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DECEMBER I9$2 '<<**>> VOLUME /2 NUMBER
12
BUSINESS
U.S. DEPARTMENT OF COMMERCE ^ECONOMICS AND STATISTICS ADMINISTRATION
BUREAU OP ECONOMIC ANALYSIS
DECEMBER 1992
VOLUME 72 NUMBER
12
SURVEY of CURRENT BUSINESS
U.S. Department of Commerce
Barbara Hackman Franklin, Secretary
\\
Economics and Statistics
Administration
Bureau of Economic Analysis
Carol S* Carson, Director
Ediwr~in-Chief* Douglas R, Fox
Managing Editor: LelandL Scott
1
Business Situation
2
4
Corporate Profits
National Income and Product Accounts
4
Selected NIPA Tables
23
25
26
NIPA Charts
Reconciliation and Other Special Tables
Summary National Income and Product Series, 1929-91
38
U.S. International Transactions, Third Quarter 1992
65
1993 Release Dates for BEA Estimates
66
Subject Guide, Volume 72 (1992)
Publication Staff: W, Konnie Foster,
M." Gretchea Gibson, Eiic B, Manning,
Donald JLParschalk
OF ODKRBHT BUSINESS* Published
monthly by the Bureau of Economic Analysis of the
U,S, Department of Commerce. Editorial correspondence should be addressed to the Editor-in-Chief,
SURVEY OF CimRENT BUSINESS, Bureau of Economic
Analysis^ US. Department of Commerce, Washington, DC 20230,
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(Seepage S-36for contents and subject index)
Inside back cover: BEA Information
NOTE.—This issue of the SURVEY went to the printer on January 5> 1993.
It incorporates data from the following monthly BEA news releases:
Gross Domestic Product (Dec. 22),
Personal Income and Outlays (Dec. 23), and
Composite Indexes of Leading, Coincident and Lagging
Indicators (Dec. 30).
SURVEY OF CURRENT BUSINESS
December 1992
THE BUSINESS SITUATION
Larry R. Moran
prepared the first
section of this
article, and Daniel
Larkins prepared
the section on
corporate profits.
HE "FiNAi/'estimate of growth in real gross
± domestic product (GDP) for the third quarter of 1992 is 3.4 percent, 0.5 percentage point
lower than the "preliminary" estimate reported in
last month's SURVEY OF CURRENT BUSINESS (table i).1 The downward revision was more than
accounted for by revisions in the change in business inventories and in net exports of goods and
services. Revised Census Bureau data for September was the major cause of these revisions; for
inventories, the downward revision was primarily
in wholesale and retail trade, and for net exports,
the revision was primarily the result of an upward
revision in merchandise imports. Residential
fixed investment and merchandise exports also
were revised downward, but only slightly; personal consumption expenditures was not revised;
and nonresidential fixed investment and government purchases—mostly Federal Government
purchases—were revised upward.
The "final" estimate for real gross domestic purchases showed a 4.i-percent increase, 0.2
percentage point lower than the "preliminary"
estimate.
(Unlike GDP, gross domestic purchases excludes exports of goods and services and
includes imports of goods and services.)
The "final" estimate for the fixed-weighted
price index for gross domestic purchases showed
an increase of 2.5 percent, the same as the "preliminary" estimate; the "final" estimate for the
fixed-weighted price index for GDP showed an increase of 2.1 percent, o.i percentage point lower
than the "preliminary" estimate.
i. Quarterly estimates in the national income and product accounts are
expressed at seasonally adjusted annual rates, and quarterly changes are differences between these rates. Quarter-to-quarter percent changes are anniialized.
Real, or constant-dollar, estimates are expressed in 1987 dollars and are based
on 1987 weights.
Looking Ahead...
• User's Guide. An updated "User's Guide to BEA Information" will appear in the January SURVEY. The guide will
contain descriptions of BEA'S programs, products, and services
as well as order information and forms.
Gross national product (GNP).—Real GNP increased 3.9 percent in the third quarter (table 2).
GNP equals GDP plus receipts of factor income
from the rest of the world less payments of factor income to the rest of the world. In the third
quarter, payments decreased more than receipts.
Table 1.—Revisions in Selected Real NIPA Components,
Third Quarter 1992
[Seasonally adjusted at annual rates]
Billions of
1987 dollars
Percent change
from preceding
quarter
Final estimate minus Prelimi- Final espreliminary nary es- timate
timate
estimate
Gross domestic product .
....
Less: Exports of goods and services
Plus: Imports of goods and services
Equals: Gross domestic purchases
-5.7
-.3
2.7
-2.7
3.9
9.4
12.8
3.4
9.2
14.8
4.3
4.1
3.7
9.4
2.5
3.1
Personal consumption expenditures
Durables
Nondurables
Services
0
-.1
-.2
.3
3.7
9.5
2.5
3.0
Fixed investment
Nonresidential
Residential
Change in business inventories
Nonfarm
Farm
1.3
1.6
-.3
1.6
1.9
.8
2.3
3.1
.2
3.3
6.3
1.4
3.8
7.5
1.4
-.1
2.2
2.1
0
2.5
2.5
Government purchases
Federal
....
State and local
-5.2
-5.2
0
1.2
1.1
.1
Index
numbers,
1987=1 00 J
GDP price index (fixed weights)
Gross domestic purchases price index (fixed
weiohts)
1. Not at annual rates.
GOP Gross domestic product
NIPA National income and product accounts
NOTE—Final estimates for the third quarter of 1992 incorporate the following revised or
additional major source data that were not available when the preliminary estimates were
prepared a month ago.
Personal consumption expenditures: Revised retail sales for September.
Nonresidential fixed investment. Revised construction put in place for August and
September, revised manufacturers' shipments of equipment for September, and revised
shipments of complete civilian aircraft for September.
Residential investment. Revised construction put in place for August and September.
Change in business inventories: Revised manufacturing and trade inventories for
September.
Net exports of goods and services: Revised merchandise exports and imports for
September and revised exports and imports of services for the quarter. Government
purchases: Revised State and local government construction put in place for August and
September.
Net interest Financial assets held by households for the quarter and net interest from the
rest of the world for the quarter.
Corporate profits: Revised domestic book profits and profits from the rest o! the world for
the quarter.
GDP prices: Revised housing prices for the Quarter.
SURVEY OF CURRENT BUSINESS
2 • December 1992
Table 2.—Relation of Gross Domestic Product, Gross
National Product, and Command-Basis Gross National
Product in Constant Dollars
[Seasonally adjusted at annual rates]
Percent change
irorn preceding
quarter
Billions of 1987 dollars
1 PV0I
Level
Gross domestic product
1992:111
1992:11
1992:111
4,933.7
18.7
41.3
1.5
3.4
105.0
-2.1
-2.6
-7.4
-9.3
8.3
-8.0
40.9
-28.1
4,945.6
8.4
46.5
680.9
-4.0
701.1
-8.7
19.9
-4.9
4,965.8
3.6
56.6
.3
103.0
-.7
93.0
Less: Exports of goods and
services and receipts of
factor income from the rest
of the world
Plus: Command-basis exports
of goods and services and
receipts of factor income ..
Equals: Command-basis
gross national product ...
1992:11
1992:111
Plus: Receipts of factor
income from the rest of
the world
Less: Payments of factor
income to the rest of the
world
Equals: Gross national
product
Change from preceding quarter
Addendum:
Terms of trade l
9.9
1.5
.7
3.9
-2.3
6.0
12.2
4.7
6.0
-2.7
1. Ratio of the implicit price deflator for exports of goods and services and receipts of
factor income to the corresponding implicit price deflator for imports with the decimal point
shifted two places to the right.
NOTE.-Levels of these series are found in tables 1.10 and 1.11 of the "Selected NIPA
Tables."
Table 3.—Corporate Profits
[Seasonally adjusted at annual rates]
Level
1992:111
Change from
preceding
quarter
1992:11 1992:111
Billions of dollars
Profits from current production
Domestic
Financial
Nonfinancial
Rest of the world
IVA
.
CCAdj
Profits before tax
Profits tax liability
Profits after tax
Profits by industry:
Profits before tax with IVA
Domestic
Financial
Nonfinancial
Manufacturing . .
Trade
Transportation and public utilities
Other
Rest of the world
Receipts (inflows)
Pavments (outflows)
374.1
309.0
4.4
65.1
12.1
-8.4
20.5
-7.7
-9.7
29.7
-10.1
3.7
354.1
131.8
222.2
10.7
30.6
278.5
344.4
279.3
40.3
239.0
118.0
43.7
40.6
36.7
65.1
68.4
3.3
7.7
3.0
.7
8.4
-8.8
17.1
17.7
6.8
-7.2
-.1
7.7
0
7.7
-14.3
-18.4
-20.6
2.3
4.1
5.8
2.7
-22.7
-12.3
-10.5
-17.0
-21.1
-21.0
0
2.8
-3.0
-1.6
1.7
4.1
1.3
-2.8
Dollars
Unit prices, costs, and profits of domestic
nonfinancial corporations:
Unit price
Unit labor cost
Unit nonlabor cost
Unit profits from current production
1.152
.757
.295
.100
0.005
-.001
-.001
.007
0.001
-.002
.003
0
NOTE.-Levels of these and other profits series are found in tables 1.14, 1.16, 6.16C, and
7.15 of the "Selected NIPA Tables."
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
About two-thirds of the decrease in payments was
in interest payments, and about one-third was in
profits of U.S. affiliates of foreign corporations.
In estimating real GNP, the current-dollar value
of exports of goods and services is deflated by
export prices, the current-dollar value of imports of goods and services is deflated by import
prices, and the current-dollar value of most factor
income is deflated by the implicit price deflator for net domestic product. In estimating
command-basis GNP—a measure of U.S. production in terms of its purchasing power—the
current-dollar value of exports of goods and services and receipts of factor income is deflated by
the implicit price deflator for imports of goods
and services and payments of factor income. In
the third quarter, command-basis GNP increased
more than GNP—4.7 percent, compared with 3.9
percent—reflecting an improvement in the terms
of trade. In the second quarter, commandbasis GNP had increased less than GNP—0.3
percent, compared with 0.7 percent—reflecting a
deterioration in the terms of trade.
Corporate Profits
Profits from current production—profits before tax (PBT) plus inventory valuation adjustment (IVA) and capital consumption adjustment
(ccAdj)—decreased $14.3 billion, to $374.1 billion,
in the third quarter after increasing $4.4 billion
in the second (table 3). Profits from the domestic operations of financial corporations decreased
$20.6 billion in the third quarter, reflecting the
effects of Hurricanes Andrew and Iniki. Profits from the domestic operations of nonfinancial
corporations increased $2.3 billion, reflecting an
increase in the real gross product of these corporations. Profits from the rest of the world
increased $4.1 billion.
Cash flow from current production, a profitsrelated measure of internally generated funds
available to corporations for investment, increased $9.5 billion after decreasing $1.2 billion.
The increase in cash flow, together with a small
decrease in (current-dollar) nonresidential fixed
investment, lifted cash flow as a percentage of
nonresidential investment to 90.7 percent from
88.8 percent.
Hurricanes Andrew and Iniki substantially reduced profits in the third quarter. Although
many of the effects of the hurricanes are embedded in the source data used to estimate profits
and thus cannot be easily estimated, some of the
effects are more apparent: Casualty insurance
SURVEY OF CURRENT BUSINESS
losses of $60 billion were partly offset by about
$14 billion of reinsurance payments from foreign
insurers to domestic insurance companies.2
Profits by industry.—Profits in manufacturing increased $2.8 billion in the third quarter after
increasing $17.7 billion in the second.3 Manufacturers of electronic and other electric equipment and of "other" durable goods posted
the largest increases; most other manufacturers
posted decreases.
Profits in trade decreased $3.0 billion in the
third quarter after increasing $6.8 billion in
the second; the decrease was at the retail level
and was widespread. Profits in transportation
and public utilities decreased $1.6 billion after
decreasing $7.2 billion; most of the decrease
was accounted for by utilities, especially electric
utilities.
Profits from the rest of the world increased
$4.1 billion in the third quarter after decreasing $7.7 billion in the second. This component
2. The losses by insurance carriers are mainly reflected in profits of financial industries; however, the industry estimates of profits generally are
based on consolidated company reports, so profits of nonfinancial industries are also affected because some nonfinancial corporations own insurance
companies.
3. PBT with IVA is used as the measure of industry profits because
estimates of the ccAdj by industry are not available.
of profits measures receipts of profits from foreign affiliates of U.S. corporations less payments
of profits by U.S. affiliates of foreign corporations. Receipts increased $1.3 billion, reflecting
increased receipts from petroleum and manufacturing affiliates. Payments decreased $2.8 billion,
reflecting decreased payments by petroleum and
other nonmanufacturing affiliates.
PBT and related measures.—PBT decreased $22.7
billion in the third quarter. The difference
between this decrease and the $14.3 billion decrease in profits from current production reflects
changes in the IVA and in the ccAdj.
The IVA is an estimate of inventory profits with
the sign reversed. Inventory profits decreased $5.8
billion, reflecting a slowdown in the rate at which
prices of inventoried goods increased. The Producer Price Index, a major source for inventory
prices, slowed to a i.p-percent increase (annual
rate) in the third quarter from a 4.5-percent
increase in the second.
The ccAdj is the difference between the predominantly tax-based depreciation measure that
underlies PBT and BEA'S estimate of the consumption of fixed capital. The ccAdj increased $2.7
billion in the third quarter. S
December 1992 •
3
SURVEY OF CURRENT BUSINESS
December 1992
NATIONAL INCOME AND PRODUCT ACCOUNTS
Selected NIPA Tables
New estimates in this issue: Third quarter 1992, final.
The selected set of national income and product accounts (NIPA) tables shown in this section presents quarterly estimates, which are updated monthly. (In most tables, the annual estimates are also shown.) Alternative
quantity and price measures are not yet available; leaders are shown for these parts.
The tables shown are available on the day of the gross domestic product (GDP) news release on printouts
and diskettes on a subscription basis or from the Commerce Department's Economic Bulletin Board. Most
shown in this section are available, beginning with 1959, on diskette or magnetic tape. For order information,
write to the National Income and Wealth Division (BE-54), Bureau of Economic Analysis, Washington, DC 20230,
or call (202) 523-0669.
NOTE.—This section of the SURVEY is prepared by the National Income and Wealth Division and the
Government Division.
Table 1.1 .—Gross Domestic Product
Table 1.2.—Gross Domestic Product in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1990
1991
1991
II
Gross domestic
product
Personal consumption
expenditures
Durable goods
Nondurable goods
Services
Gross private domestic
investment
Fixed investment
Nonresidential
Structures
Producers' durable
equipment
Residential
Change in business
inventories
Nonfarm
Farm . . .
Net exports of goods and
services
Exports
Imports
Government purchases
Federal
National defense
Nondefense
State and local
1992
IV
III
I
1990
3,748.4 3,887.7 3,871.9 3,914.2 3,942.9 4,022.8 4,057.1 4,108.7
464.3 446.1 441.4 453.0 450.4 469.4 470.6 482.5
1,224.5 1,251.5 1,254.2 1,255.3 1,251.4 1,274.1 1,277.5 1,292.8
2,059.7 2,190.1 2,176.3 2,205.9 2,241.1 2,279.3 2,309.0 2,333.3
799.5
721.1
710.2
732.8
736.1
722.4
773.2
781.6
793.2
577.6
201.1
731.3
541.1
180.1
732.0
545.8
185.2
732.6
538.4
175.6
726.9
528.7
169.7
738.2
531.0
170.1
765.1
550.3
170.3
766.6
549.6
166.1
376.5
215.6
360.9
190.3
360.6
186.2
362.8
194.2
358.9
198.2
360.8
207.2
380.0
214.8
383.5
217.0
-10.2
-10.3
0
-21.8
-27.0
5.2
-1.2
-68.9
21.8
-15.3
-27.1
16.0
557.0
625.9
598.2
620.0
594.3
609.6
602.3
629.5
622.9
638.9
.2
1.4
9.2
14.5
-5.3
-15.8
-13.3
8.1
6.4
1.7
15.0
-8.1
-37.1
-36.0
628.1
636.2
625.4
662.5
639.0
675.0
-2.4
447.3
323.8
123.6
643.2
449.9
325.9
124.0
640.8
447.2
321.9
125.3
646.0
440.8
314.7
126.1
649.5
445.0
313.6
131.4
658.0
444.8
311.7
133.1
664.3
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
9.7
5.3
1,043.2 1,090.5 1,090.8 1,093.3 1,090.3 1,103.1 1,109.1 1,124.2
426.4
314.0
112.4
616.8
II
III
II
55222 5,677.5 5,657.6 5,713.1 5,753.3 5,840.2 5,902.2 5,978.5
6.3
3.3
3.1
1991
1991
455.2
319.6
135.7
669.0
Gross domestic
product
Personal consumption
expenditures
Durable goods
Nondurable goods
Services
Gross private domestic
investment
Fixed investment
Nonresidential
Structures
Producers' durable
equipment
Residential
Change in business
inventories
Nonfarm
Farm
Net exports of goods and
services
Exports
Imports
Government purchases
Federal
National defense
Nondefense
State and local
1992
IV
III
I
III
II
4,877.5 4,821.0 4,817.1 4,831.8 4,838.5 4,873.7 4,892.4 4,933.7
3,260.4 3,240.8 3,239.3 3,251.2 3,249.0 3,289.3 3,288.5 3,318.4
419.4 416.1
432.3 430.0 439.8
439.3 414.7 411.3
1,056.5 1,042.4 1,046.3 1,044.8 1,035.6 1,049.6 1,045.6 1,052.0
1,764.6 1,783.7 1,781.8 1,787.0 1,797.4 1,807.3 1,812.9 1,826.6
739.1
661.1
649.5
672.0
676.9
668.9
713.6
724.9
732.9
538.1
179.1
670.4
500.2
157.6
669.8
503.0
162.2
671.4
498.7
153.0
669.3
492.1
148.4
681.4
495.8
149.4
705.9
514.7
149.1
710.0
518.7
144.7
359.0
194.8
342.6
170.2
340.8
166.9
345.8
172.6
343.7
177.3
346.4
185.6
365.6
191.2
374.0
191.3
-9.3
-9.6
-1.0
.3
-20.4
-24.5
4.1
1.6
11.8
-4.2
-51.8
-21.8
-17.4
-31.6
-20.5
-21.5
-43.9
-52.7
510.0
561.8
539.4
561.2
536.1
553.5
544.2
575.8
561.4
581.8
565.4
586.8
563.4
607.3
575.9
628.6
929.9
941.0
945.6
940.2
933.1
937.0
934.2
943.0
383.6
283.3
100.3
546.3
388.3
282.8
105.5
552.7
393.8
287.6
106.2
551.8
387.2
280.6
106.6
553.0
378.2
271.0
107.2
554.9
375.3
265.6
109.7
561.8
372.7
262.1
110.6
561.5
379.5
267.4
112.1
563.5
6.2
3.7
2.5
.6
7.5
-12.6
-10.7
-1.9
7.8
6.0
1.8
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
15.0
9.6
5.3
SURVEY OF CURRENT BUSINESS
Table 1.3.—Gross Domestic Product by Major Type of Product
December 1992 • 5
Table 1.4.—Gross Domestic Product by Major Type of Product
in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
1991
1991
1990
II
Gross domestic
product
Final sales of domestic
product
Change in business
inventories
Goods l
Final sales
Change in business
inventories
Durable goods
Final sales
Change in business
inventories
Nondurable goods
Final sales
Change in business
inventories
Services 1
Structures
Seasonally adjusted at annual rates
1992
IV
III
I
II
5,515.9 5,687.7 5,679.4 5,712.9 5,744.2 5,855.9 5,894.1 5,963.5
6.3
-10.2
-21.8
.2
9.2
-15.8
8.1
15.0
2,166.4 2,182.5 2,179.1 2,195.1 2,197.6 2,217.8 2,241.3 2,273.4
2,160.0 2,192.7 2,200.9 2,194.9 2,188.4 2,233.6 2,233.2 2,258.4
6.3
919.7
920.6
-.9
-10.2
-21.8
.2
9.2
888.4
907.6
890.2
916.8
903.8
910.8
897.6
905.7
904.3
923.6
-19.2
-26.5
-7.0
-8.1
-19.3
-15.8
8.1
15.0
941.8
932.3
946.5
943.8
9.5
2.7
1,246.7 1,294.1 1,288.9 1,291.3 1,300.0 1,313.5 1,299.5 1,326.9
1,239.5 1,285.1 1,284.1 1,284.1 1,282.7 1,310.0 1,300.8 1,314.6
7.2
9.0
4.8
7.2
17.3
3.5
1.4
12.3
2,846.4 3,030.2 3,013.8 3,053.6 3,090.3 3,142.2 3,173.4 3,217.8
509.4
464.7
464.7
464.4
465.5
480.1
II
III
5,522.2 5,677.5 5,657.6 5,713.1 5,753.3 5,840.2 5,902.2 5,978.5
487.6
487.3
1991
1991
1990
Gross domestic
product
Final sales of domestic
product
Change in business
inventories
Goods1
Final sales
Change in business
inventories
Durable goods
Final sales
Change in business
inventories
Nondurable goods
Final sales
Change in business
inventories
Services1
Structures
1992
IV
III
I
II
III
4,873.7 4,892.4 4,933.7
4,877.5 4,821.0 4,817.1 4,831.8
4,871.3 4,830.3 4,837.4 4,831.2 4,830.9 4,886.3 4,884.6 4,918.7
6.2
-9.3
-20.4
.6
7.5
-12.6
7.8
15.0
1,956.8 1,911.2 1,907.6 1,918.3 1,915.7 1,924.0 1,936.7 1,966.2
1,950.7 1,920.5 1,928.0 1,917.7 1,908.2 1,936.6 1,929.0 1,951.3
6.2
880.3
881.0
-.7
-9.3
-20.4
.6
7.5
834.1
851.6
836.3
860.2
845.3
851.7
839.4
846.8
-17.5
-24.0
-6.4
-7.4
-12.6
842.4
859.6
-17.3
7.8
15.0
874.2
865.7
883.6
880.2
8.6
3.3
1,076.6 1,077.1 1,071.4 1,073.0 1,076.3 1,081.7 1,062.5 1,082.7
1,069.7 1,069.0 1,067.8 1 0660 1 061.3 1,077.0 1,063.3 1,071.1
6.9
8.2
7.0
3.6
15.0
4.7
-.8
11.6
2,463.0 2,497.6 2,497.3 2,503.7 2,509.0 2,520.1 2,522.4 2,537.5
457.7
412.2
412.1
409.8
413.7
429.5
433.3
429.9
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.5.—Relation of Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
Table 1.6.—Relation of Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers in Constant
Dollars
[Billions of dollars]
Gross domestic product .. 55222
Less: Exports of goods and
services
557.0
Plus: Imports of goods and
services
625.9
Equals: Grossl domestic
5,591.1
purchases
Less: Change in business
inventories
63
Equals: Final sales to 2
domestic purchasers
5,584.8
[Billions of 1987 dollars]
5,677.5 5,657.6 5,713.1 5,753.3 5,840.2 5,902.2 5,978.5
598.2
594.3
602.3
622.9
628.1
625.4
639.0
620.0
609.6
629.5
638.9
636.2
662.5
675.0
5,699.3 5,672.9 5,740.3 5,769.3 5,848.3 5,939.4 6,014.5
-102
21 8
2
92
-158
81
150
5,709.5 5,694.7 5,740.1 5,760.1 5,864.1 5,931.3 5,999.5
1. Purchases by U.S. residents of goods and services wherever produced.
2. Final sales to U.S. residents of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Gross domestic product
Less: Exports of goods and
services
Plus: Imports of goods and
services
Equals: Gross
domestic
purchases ]
Less: Change in business
inventories
Equals: Final sales to 2
domestic purchasers
4,877.5 4,821.0 4,817.1 4,831.8 4,838.5 4,873.7 4,892.4 4,933.7
5100
5394
5361
5442
561 4
5654
5634
5759
561.8
561.2
553.5
575.8
581.8
586.8
607.3
628.6
4,929.3 4,842.8 4,834.4 4,863.4 4,858.9 4,895.2 4,936.3 4,986.4
6.2
-9.3
.6
-20.4
7.5
-12.6
7.8
15.0
4,923.1 4,852.1 4,854.8 4,862.8 4,851.4 4,907.7 4,928.5 4,971.4
1. Purchases by U.S. residents of goods and services wherever produced.
2. Final sales to U.S. residents of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.7.—Gross Domestic Product by Sector
Table 1.8.—Gross Domestic Product by Sector in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Gross domestic
product
Business
Nonfarm
Nonfarm less housing ....
Housing
Farm
Statistical discrepancy
Households and institutions
Private households .
Nonprofit institutions
General government
Federal
State and local
Addendum:
Gross domestic business
product less housing
55222 5,677.5 5,657.6 5,713.1 5,753.3 5,840.2 5,902.2 5,978.5
4,702.8 4,803.8 4,786.7 4,835.2 4,867.2 4,937.4 4,988.6 5,057.5
4,612.4 4,702.8 4,677.1 4,725.5 4,772.9 4,826.9 4,877.6 4,940.0
4,162.8 4,229.8 4,207.3 4,251.4 4,289.5 4,341.1 4,386.9 4,413.2
449.6 473.0 469.8 474.1 483.4 485.8 490.7 526.8
850
792
779
30.5
16.4
81.6
29.0
80.1
30.9
82.5
35.1
244.1
249.3
253.5
258.3
261.5
264.8
92
234.8
92
240.0
93
244.2
94
248.9
9.6
251.9
9.7
255.1
627.6
626.8
628.7
632.7
644.4
652.2
656.2
1920
1924
434.5
191 1
441.6
1982
435.6
191 3
437.4
198.7
453.5
199.0
457.2
791
5.4
21.9
82.5
27.1
227.8
246.1
94
218.4
92
236.9
591.6
1803
411.4
4,248 7 4,326.3
446.2
Gross domestic
product
Business
Nonfarm
Nonfarm less housing ....
Housing
Farm
Statistical discrepancy
Households and institutions
Private households
Nonprofit institutions
General government
Federal
State and local
Addendum:
Gross domestic business
product less housing
4,877.5 4,821.0 4,817.1 4,831.8 4,838.5 4,873.7 4,892.4 4,933.7
4,170.1 4,103.9 4,098.3 4,116.1 4,123.1 4,156,8 4,174.4 4,212.5
4,094.7 4,015.8 4,007.1 4,021.6 4,036.3 4,058.8 4,076.1 4,109.2
3,704.3 3,621.0 3,612.6 3,626.1 3,640.3 3,661.1 3,677.0 3,709.1
400.1
390.4 394.9 394.5 395.5 396.0 397.6 399.1
69.4
18.7
68.0
23.2
68.5
26.0
72.8
13.9
73.6
24.4
72.5
25.9
74.0
29.2
197.7
202.4
201.9
203.1
204.8
206.7
206.7
208.8
8.8
188.8
8.2
194.2
8.3
193.5
8.3
194.9
8.2
196.6
8.3
198.4
8.4
198.3
8.4
200.5
509.8
514.7
516.9
512.6
510.6
510.3
511.3
512.3
156.3
3535
157.1
3575
158.6
3583
155.5
153.4
357.3
152.5
357.7
151.8
359.5
151.1
361.2
70.5
4.9
37758 37052
3571
SURVEY OF CURRENT BUSINESS
6 • December 1992
Table 1.9.—Relation of Gross Domestic Product, Gross National
Product, Net National Product, National Income, and Personal
Income
Table 1.10.—Relation of Gross Domestic Product, Gross National
Product, Net National Product, and National Income in Constant
Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1990
1991
1991
1990
1992
1991
1991
II
Gross domestic product
Plus: Receipts of factor
income from the rest of the
worldl
Less: Payments of factor
income2 to the rest of the
world
Equals: Gross national
product
Less: Consumption of fixed
capital
Capital
consumption
allowances
Less: Capital
consumption
adjustment
Equals: Net national product
Less: Indirect business tax
and nontax liability
Business transfer
payments
Statistical discrepancy
Plus: Subsidies less current
surplus of government
enterprises
Equals: National income
Less: Corporate profits with
inventory valuation and
capital consumption
adjustments
Net interest
Contributions for
social insurance
Wage accruals less
disbursements
Plus: Personal interest income
Personal dividend
income
Government transfer
payments to
persons
Business transfer
payments to
persons
Equals: Personal income
Addenda:
Net domestic product
Domestic income
Gross national income
5,522.2 5,677.5
5,657.6
5,713.1 5,753.3 5,840.2 5,902.2 5,978.5
160.6
143.5
143.2
137.8
133.1
132.9
131.3
128.8
139.9
126.0
126.5
124.5
122.3
113.3
124.3
115.3
5,542.9 5,694.9 5,674.3 5,726.4 5,764.1 5,859.8
602.8
566.2
626.1
623.5
574.2
568.5
-36.6
-51.9
4,940.1 5,068.8
-54.9
5,050.9
444.2
26.4
5.4
4.2
475.2
28.1
21.9
.5
468.2
27.9
27.1
1.6
624.9
576.4
637.1
588.2
631.4
598.0
5,909.3
5,992.0
638.2
697.7
608.9
642.8
-48.5 -48.8 -33.5
-54.8
-29.3
5,101.5 5,127.0 5,228.3 5,271.1 5,294.3
480.0
28.4
30.5
-7.1
487.9
28.6
16.4
5.1
4,468.3 4,544.2 4,529.2 4,555.4
493.8
29.4
29.0
497.6
29.8
30.9
506.4
29.9
35.1
4,679.4 4,716.5
-3.4
4,719.6
3.2
3.6
361.7
460.7
346.3
449.5
347.3
444.4
341.2
450.5
347.1
446.9
384.0
430.0
388.4
420.0
374.1
407.3
502.3
528.8
526.5
532.1
535.2
546.2
550.8
554.4
.1
694.5
-.1
700.6
-.4
696.2
0
701.8
0
703.3
0
684.8
0
675.2
0
663.2
140.3
137.0
136.7
135.6
134.3
133.9
136.6
141.0
664.6
748.3
739.8
754.0
21.2
22.8
22.6
23.1
4,664.2 4,828.3
4,806.9 4,846.2
849.3
818.6
23.3
4,907.
24.1
24.4
24.8
5,028.9 5,062.0
4,919.4 5,051.4 5,034. 5,088.2 5,116.3 5,208.7 5,264.1 5,280.9
4,447.6 4,526.^ 4,512.5 4,542.; 4,588.4 4,659.8 4,709. 4,706.1
5,537.5 5,673.1 5,647.2 5,695.9 5,747.' 5,830.8 5,878.4 5,956.9
1. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
2. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.
Gross domestic product
Plus: Receipts of factor
incomel from the rest of the
world
Less: Payments of factor
income to the rest of the
world2
Equals: Gross national
product
Less: Consumption of fixed
capital
Equals: Net national product
Less: Indirect business tax
and nontax liability plus
business transfer payments
less subsidies plus current
surplus of government
enterprises
Statistical discrepancy
Equals: National income
Addenda:
Net domestic product
Domestic income
Gross national income
4,877.5 4,821.0
4,817.1
III
1992
IV
I
II
III
4,831.8 4,838.5 4,873.7 4,892.4 4,933.7
141.1
120.8
120.9
115.4
110.8
109.7
107.6
105.0
122.6
105.4
106.2
103.6
101.0
92.7
101.0
93.0
4,895.9 4,836.4 4,831.8 4,843.7 4,848.2 4,890.7 4,899.1 4,945.6
554.9
569.3
565.8
569.6
579.1
576.4
578.0
628.3
4,341.0 4,267.2 4,266.0 4,274.1 4,269.1 4,314.3 4,321.1 4,317.3
396.5
4.9
391.6
393.1
394.3
391.3
396.3
399.5
402.5
18.7
23.2
26.0
13.9
24.4
25.9
29.2
3,939.7 3,856.9 3,849.6 3,853.8 3,863.9 3,893.6 3,895.8 3,885.6
4,322.6 4,251.7 4,251.2 4,262.3 4,259.4 4,297.3 4,314.4 4,305.4
3,921.2 3,841.5 3,834.9 3,842.0 3,854.2 3,876.6 3,889.1 3,873.6
4,891.0 4,817.8 4,808.6 4,817.7 4,834.3 4,866.3 4,873.2 4,916.4
1. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
2. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.
Table 1.11.—Command-Basis Gross National Product in Constant
Dollars
[Billions of 1987 dollars]
4,895.9 4,836.4 4,831.8 4,843.7 4,848.2 4,890.7 4,899.1 4,945.6
Gross national product
Less: Exports of goods and
services and receipts of
factor income from the rest
651.0 660.2 657.0 659.6 672.2 675.0 671.0 680.9
of the world
Plus: Command-basis exports
of goods and services and
receipts of factor income l . 641.2 662.7 660.9 666.8 678.2 689.9 681.2 701.1
Equals: Command-basis
gross national product .... 4,886.1 4,838.9 4,835.7 4,850.9 4,854.2 4,905.6 4,909.2 4,965.8
Addendum:
100.9 102.2
101.5
103.0
100.4
101.1
Terms of trade2
98.5
100.6
1. Exports of goods and services and receipts of factor income deflated by the implicit price deflator for
imports of goods and services and payments of factor income.
2. Ratio of the implicit price deflator for exports of goods and services and receipts of factor income to the
corresponding implicit price deflator for imports with the decimal point shifted two places to the right.
NOTE—Percent changes from preceding period for selected items in this table are shown in table 8.1.
SURVEY OF CURRENT BUSINESS
Table 1.16—Gross Domestic Product of Corporate Business in
Current Dollars and Gross Domestic Product of Nonfinancial
Corporate Business in Current and Constant Dollars
Table 1.14.—National Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
1990
1991
1991
II
National income
Compensation of employees
Wages and salaries
Government
Other
Supplements to wages and
salaries
Employer contributions
for social insurance ...
Other labor income
Proprietors' income with
IVA and CCAdj
Farm
Proprietors' income with
IVA
CCAdj
Nonfarm
Proprietors' income
IVA
CCAdj
Rental income of persons
with CCAdi
Rental income of persons ..
CCAdj
Corporate profits with IVA
and CCAdi ....
Corporate profits with IVA ..
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
IVA
CCAdj
Net interest
Addenda:
Corporate profits after tax
with IVA and CCAdj
Net cash flow with IVA
and CAdj
Undistributed profits
with IVA and CCAdj
Consumption of fixed
capital
Less: IVA
Equals: Net cash flow ....
Seasonally adjusted at annual rates
1992
II
I
IV
1990
III
1991
1991
II
III
1992
I
IV
II
III
4,468.3 4,544.2 4,529.2 4,555.4 4,599.1 4,679.4 4,716.5 4,719.6
3,291.2 3,390.8 3,379.6 3,407.0 3,433.8 3,476.3 3,506.3 3,534.3
2,742.9 2,812.2 2,804.3 2,824.4 2,845.0 2,877.6 2,901.3 2,923.5
514.8 543.5 543.4 544.3 546.4 554.6 561.4 564.3
2,228.0 2,268.7 2,260.9 2,280.0 2,298.6 2,323.0 2,339.9 2,359.1
548.4
578.7
575.2
582.6
588.7
598.7
605.0
610.8
277.4
271.0
290.4
288.3
289.1
286.1
292.0
290.6
293.7
295.0
299.4
299.2
301.5
303.6
302.9
307.9
366.9
368.0
370.4
367.1
377.9
393.6
398.4
397.4
41.7
35.8
41.3
29.5
37.9
40.1
38.5
31.5
48.9
-7.6
37.1
-7.6
45.4
-7.5
47.5
332.2
318.7
3
329.1
316.5
-.3
337.6
322.4
-.5
340.0
325.6
-.1
353.6
339.1
-.8
16.0
13.8
12.9
15.6
14.4
15.2
-12.3
-10.4
-12.3
-10.3
-6.6
-4.5
49.5
-7.8
43.4
325.2
310.0
8
76
74
45.8
-7.3
39.7
-8.2
359.9
344.8
365.9
350.2
-.5
-1.0
16.1
3.3
16.2
6.4
44.6
47.5
44.3
47.0
54.7
51.7
60.0
90.3
-56.9
-57.9
-56.6
-57.3
-61.3
-56.2
-56.6
-83.9
361.7
346.3
347.3
341.2
347.1
384.0
388.4
374.1
341.2
355.4
136.7
218.7
149.3
337.8
334.7
124.0
210.7
146.5
342.2
332.3
122.9
209.4
146.2
331.9
336.7
127.0
209.6
333.1
332.3
125.0
207.4
143.9
360.7
366.1
136.4
229.7
143.6
361.4
376.8
144.1
232.7
146.6
344.4
354.1
131.8
222.2
151.1
69.4
64.2
63.2
64.5
-4.8
63.4
86.2
-5.4
86.1
71.1
-9.7
-14.2
20.5
460.7
3.1
9.9
145:1
8.4
5.1
9.3
449.5
444.4
450.5
.7
-15.5
14.1
23.3
27.0
29.7
446.9
430.0
420.0
407.3
225.1
222.3
224.4
214.2
222.2
247.6
244.3
242.3
444.0
458.8
460.6
452.5
464.6
490.1
488.9
498.4
75.7
75.8
78.1
69.0
78.3
104.0
97.7
91.2
368.3
-14.2
458.1
CCAdj Capital consumption adjustment
IVA Inventory valuation adjustment
III
December 1992
383.0
3.1
455.6
382.5
9.9
450.7
383.5
-4.8
457.3
386.3
.7
463.9
386.1
-5.4
495.6
391.2
-15.5
504.3
407.2
-9.7
508.1
Billions of dollars
Gross domestic
product of corporate
business
Consumption of fixed capital ..
Net domestic product
Indirect business tax and
nontax liability plus
business transfer
payments less subsidies
Domestic income
Compensation of
employees
Wages and salaries ...
Supplements to wages
and salaries
Corporate profits with
IVA and CCAdj
Profits before tax
Profits tax liability ..
Profits after tax
Dividends
Undistributed
profits
IVA
CCAdj
Net interest
Gross domestic
product of financial
corporate business ..
Gross domestic
product of
nonfinancial
corporate business ..
Consumption of fixed capital ..
Net domestic product
Indirect business tax and
nontax liability plus
business transfer
payments less subsidies
Domestic income
Compensation of
employees
Wages and salaries ...
Supplements to wages
and salaries
Corporate profits with
IVA and CCAdj
Profits before tax
Profits tax liability ..
Profits after tax
Dividends
Undistributed
profits
IVA
CCAdj ..
Net interest
3,308.3 3,352.2 3,340.1 3,365.8 3,391.5 3,437.3 3,471.4 3,488.4
368.3
383.0
382.5
383.5
386.3
386.1
391.2
407.2
2,940.0 2,969.2 2,957.6 2,982.3 3,005.1 3,051.2 3,080.2 3,081.1
318.8
342.2
336.4
346.8
351.5
355.7
357.5
364.0
2,621.2 2,627.0 2,621.3 2,635.5 2,653.7 2,695.5 2,722.7 2,717.2
2,182.8 2,219.5 2,212.4 2,230.3 2,245.7 2,261.4 2,277.8 2,294.4
1,833.9 1,855.8 1,850.7 1,863.3 1,874.9 1,890.6 1,903.1 1,916.5
367.0
370.9
370.8
374.7
377.9
280.9
265.9
122.9
143.1
126.7
279.3
274.7
127.0
147.7
123.6
284.2
269.4
125.0
144.5
131.9
315.3
297.4
136.4
161.0
116.6
327.4
315.9
144.1
171.7
122.3
309.0
289.0
131.8
157.1
126.9
15.9
16.4
-15.5
14.1
27.0
30.2
-9.7
29.7
142.4
9.3
125.9
44.4
-5.4
23.3
49.5
9.9
5.1
127.9
24.1
-4.8
12.6
3.1
8.4
127.7
123.7
118.7
117.5
113.8
271.8
278.4
277.4
281.4
280.4
299.2
292.5
276.8
348.9
363.7
296.0
289.7
136.7
153.0
129.3
279.8
268.2
124.0
144.2
128.3
23.7
-14.2
20.5
361.7
.7
3,036.5 3,073.8 3,062.7 3,084.4 3,111.1 3,138.1 3,178.8 3,211.6
329.3
341.2
341.0
341.5
343.5
342.7
347.6
363.3
2,707.2 2,732.6 2,721.7 2,742.9 2,767.5 2,795.4 2,831.3 2,848.3
290.9
310.8
305.5
314.7
318.7
322.6
324.1
330.1
2,416.3 2,421.8 2,416.2 2,428.2 2,448.8 2,472.8 2,507.1 2,518.2
2,019.0 2,048.6 2,042.0 2,058.6 2,071.8 2,081.0 2,096.4 2,109.5
1,695.1 1,711.3 1,706.6 1,718.2 1,727.9 1,738.0 1,749.7 1,760.2
323.9
337.3
335.4
340.5
343.9
343.0
346.6
349.3
248.3
232.9
229.9
207.3
231.4
205.2
226.5
211.2
235.3
209.7
255.7
227.3
276.2
254.5
100.8
153.7
113.4
278.5
248.6
40.4
37.1
35.0
-9.7
39.5
134.6
130.3
92.8
81.1
80.3
83.3
82.1
90.2
140.2
118.5
126.2
117.3
124.9
115.5
127.9
113.9
127.6
120.9
137.1
107.1
6.7
.7
8.8
3.1
9.3
9.9
29.5
19.4
16.2
14.1
-4.8
20.1
24.8
30.1
-5.4
33.8
149.0
143.4
142.9
143.0
141.7
136.0
21.6
-14.2
-15.5
96.6
152.0
117.0
Billions of 1987 dollars
Gross domestic
product of
nonfinancial
corporate business ..
Consumption of fixed capital ..
Net domestic product
Indirect business tax and
nontax liability plus
business transfer
payments less subsidies
Domestic income
2,740.0 2,698.0 2,687.4 2,699.1 2,722.0 2,737.6 2,760.8 2,787.6
303.4 309.5 308.5 310.2 312.0 313.2 314.0 326.9
2,436.6 2,388.5 2,378.9 2,389.0 2,410.0 2,424.3 2,446.9 2,460.7
253.2 249.0 248.8 251.0 249.5 252.6 254.8 257.4
2,183.4 2,139.6 2,130.1 2,138.0 2,160.5 2,171.8 2,192.0 2,203.4
CCAdj Capital consumption adjustment
IVA Inventory valuation adjustment
SURVEY OF CURRENT BUSINESS
8 • December 1992
Table 2.1 .—Personal Income and Its Disposition
Table 2.2.—Personal Consumption Expenditures by Major Type of
Product
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
1990
1991
1991
II
Personal income
Wage and salary
disbursements
Commodity-producing
industries
Manufacturing
Distributive industries
Service industries
Government
Other labor income
Proprietors' income with
inventory valuation and
capital consumption
adjustments
Farm
Nonfarm
Rental income of persons
with capital
consumption
adjustment
Personal dividend income
Personal interest income
Transfer payments to
persons
Old-age, survivors,
disability, and health
insurance benefits
Government
unemployment
insurance benefits
Veterans benefits
Government employees
retirement benefits
Other transfer payments
Aid to families with
dependent children
Other
Less: Personal
contributions for social
insurance
Less: Personal tax and
nontax payments
Equals: Disposable personal
income
Less: Personal outlays
Personal consumption
expenditures
Interest paid by persons ....
Personal transfer payments
to rest of the world (net)
Equals: Personal saving
Addenda:
Disposable personal
income:
Total, billions of 1987
dollars
Per capita:
Current dollars
1987 dollars
Population (mid-period,
millions)
Personal saving as
percentage of
disposable personal
income
Seasonally adjusted at annual rates
1992
II
I
IV
III
1991
1991
II
III
1992
IV
I
III
II
4,664.2 4,828.3 4,806.9 4,846.2 4,907.2 4,980.5 5,028.9 5,062.0
2,742.8 2,812.2 2,804.7 2,824.4 2,845.0 2,877.6 2,901.3 2,923.5
745.6
556.1
634.6
847.8
514.8
737.4
556.9
647.4
883.9
543.6
734.6
553.4
647.0
879.4
543.8
738.8
559.0
651.1
890.2
544.3
741.5
563.9
652.9
904.3
546.4
736.8
559.9
660.9
925.3
554.6
743.1
564.7
662.9
933.9
561.4
742.4
565.5
667.7
949.1
564.3
271.0
288.3
286.1
290.6
295.0
299.2
303.6
307.9
366.9
368.0
370.4
367.1
377.9
393.6
398.4
397.4
41.7
35.8
41.3
29.5
37.9
40.1
38.5
31.5
325.2
332.2
329.1
337.6
340.0
353.6
359.9
365.9
-12.3
-10.4
-12.3
-10.3
-6.6
-4.5
3.3
6.4
140.3
137.0
136.7
135.6
134.3
133.9
136.6
141.0
694.5
700.6
696.2
701.8
703.3
684.8
675.2
663.2
685.8
771.1
762.4
777.1
799.8
842.7
859.7
874.1
352.0
382.0
378.9
384.2
390.6
405.7
412.1
417.1
18.0
17.8
27.5
18.1
28.3
18.5
27.6
18.1
30.0
18.1
39.7
20.2
41.7
18.7
40.4
18.5
94.0
203.9
101.3
242.1
100.4
236.3
101.0
246.1
102.0
259.1
106.4
270.7
106.4
280.8
106.6
291.5
19.8
22.0
21.8
22.7
23.0
23.4
23.6
184.2
220.2
214.6
222
224.0
236.4
247.7
257.4
267.9
Personal consumption
expenditures
Durable goods
Motor vehicles and parts ....
Furniture and household
equipment
Other
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services
Housing
Household operation
Electricity and gas
Other household
operation
Transportation
Medical care
Other
3,748.4 3,887.7 3,871.9 3,914.2 3,942.9 4,022.8 4,057.1 4,108.7
464.3
446.1
441.4
453.0
450.4
469.4
470.6
482.5
202.4
185.4
180.7
189.3
190.9
198.9
200.7
201.7
172.1
170.4
171.5
172.2
168.9
176.3
176.3
182.4
89.8
90.2
89.3
91.5
90.6
94.1
93.5
98.5
1,224.5 1,251.5 1,254.2 1,255.3 1,251.4 1,274.1 1,277.5 1,292.8
601.4
206.9
108.5
617.7
209.0
105.5
619.2
210.8
105.5
617.9
212.0
104.7
620.0
206.8
103.5
627.9
216.5
102.8
623.2
217.4
105.4
627.3
224.3
107.7
12.6
11.7
11.4
11.8
11.3
11.6
13.8
13.0
295.1
307.7
307.3
308.9
309.8
315.4
317.7
320.5
2,059.7 2,190.1 2,176.3 2,205.9 2,241.1 2,279.3 2,309.0 2,333.3
97.6
574.0
223.7
103.6
571.5
224.8
104.4
576.5
226.1
104.6
583.0
225.5
105.2
590.9
223.5
101.8
597.4
227.9
104.2
603.3
225.8
104.8
117.4
142.8
524.9
629.5
120.1
147.3
580.2
664.9
120.3
146.2
572.5
661.3
121.5
148.2
586.3
668.9
120.3
149.8
603.2
679.6
121.8
152.6
614.8
697.5
123.6
152.5
629.0
702.2
121.0
153.1
642.0
709.1
547.5
215.0
Table 2.3.—Personal Consumption Expenditures by Major Type of
Product in Constant Dollars
[Billions of 1987 dollars]
224.8
238.4
237.4
240.1
241.5
246.8
249.3
251.5
621.3
618.7
617.2
618.6
622.3
619.6
617.1
628.8
4,042.9 4,209.6 4,189.7 4,227.6 4,284.9 4,360.9 4,411.8 4,433.2
3,867.3 4,009.9 3,994.4 4,036.6 4,065.5 4,146.3 4,179.5 4,229.9
3,748.4 3,887.7 3,871.9 3,914.2 3,942.9 4,022.8 4,057.1 4,108.7
109.6 112.5
112.7 112.5
112.8 113.3 112.0 111.2
9.3
9.7
9.8
9.9
9.7
10.2
10.4
10.0
175.6
199.6
195.3
191.0
219.4
214.6
232.3
203.3
3,516.5 3,509.0 3,505.2 3,511.5 3,530.8 3,565.7 3,576.0 3,580.5
16,174 16,658 16,604 16,706 16,885 17,143 17,297 17,332
14,068 13,886 13,891 13,876 13,913 14,017 14,021 13,998
250.0
252.7
252.3
253.1
253.8
254.4
255.1
255.8
4.3
4.7
4.7
4.5
5.1
4.9
5.3
4.6
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
1990
III
Personal consumption
expenditures
Durable goods
Motor vehicles and parts ....
Furniture and household
eauioment
Other
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services
Housing
Household operation
Electricity and gas
Other household
opearation
Transportation
Medical care
Other
3,260.4 3,240.8 3,239.3 3,251.2 3,249.0 3,289.3 3,288.5 3,318.4
439.3
414.7
411.3
419.4
416.1
432.3
430.0
439.8
192.2
171.0
167.2
173.3
174.0
181.5
180.2
179.0
1695
1686
1693
74.8
1704
1679
1744
76.5
1744
75.4
181.5
776
750
757
742
79.3
1,056.5 1,042.4 1,046.3 1,044.8 1,035.6 1,049.6 1,045.6 1,052.0
520.8
185.9
515.8
181.3
516.3
183.2
515.0
183.7
515.3
177.5
518.9
184.1
513.5
184.4
514.3
190.8
86.4
10.1
85.2
86.0
84.7
9.7
250.5
9.8
251.0
86.0
10.0
85.7
10.2
85.8
12.0
86.0
10.9
250.7
249.8
250.1
253.4
250.0
9.4
248.6
1,764.6 1,783.7 1,781.8 1,787.0 1,797.4 1,807.3 1,812.9 1,826.6
474.7
203.7
92.4
111 3
124.7
423.9
537.6
478.2
204.7
477.9
206.5
478.8
206.5
479.8
204.6
95.2
96.6
96.3
95.6
1096
1099
1102
1090
121.2
438.8
540.7
121.5
435.6
540.2
121.2
440.5
540.1
121.0
447.2
544.8
481.2
201.6
92.9
108.7
120.3
449.6
554.6
483.3
204.2
94.5
1097
121.3
453.7
550.5
485.8
205.6
94.0
111.6
124.1
458.1
553.1
SURVEY OF CURRENT BUSINESS
December 1992
Table 3.2.—Federal Government Receipts and Expenditures
Table 3.3.—State and Local Government Receipts and Expenditures
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
1990
1991
1991
II
Receipts
Personal tax and nontax
receipts
Income taxes
. .
Estate and gift taxes
Nontaxes
Corporate profits tax accruals
Federal Reserve banks
Other
Indirect business tax and
nontax accruals
Excise taxes
Customs duties
Nontaxes
Contributions for social
insurance
Expenditures
Purchases
National defense
Nondefense
Transfer payments (net)
To persons
To rest of the world (net) ...
Grants-in-aid to State and
local governments
Net interest paid
Interest paid
To persons and business
To rest of the world (net)
Less: Interest received by
government
Subsidies less current surplus
of government enterprises .
Subsidies
Less: Current surplus of
government enterprises ..
Less: Wage accruals less
disbursements
Surplus or deficit (-),
national income and
product accounts
Social insurance funds
Other
1990
1992
IV
III
Seasonally adjusted at annual rates
II
I
II
1,107.4 1,122.2 1,117.3 1,127.7 1,129.4 1,143.3 1,149.8 1,155.4
482.6
470.1
473.4
461.4
473.1
461.6
473.4
460.6
472.2
460.5
468.4
456.4
464.2
452.3
475.5
462.9
11.6
11.0
10.6
11.8
10.7
10.9
10.8
11.5
.9
1.0
1.0
1.0
1.1
1.1
1.1
1.1
113.9
102.5
101.6
104.9
103.3
112.2
118.3
108.2
23.6
90.3
20.8
81.7
20.8
80.8
20.5
84.4
20.3
83.0
19.3
92.9
19.0
99.3
17.7
90.5
66.0
36.3
17.5
12.2
78.2
45.6
17.2
15.3
76.3
45.6
16.1
14.6
78.3
45.6
17.1
15.6
80.8
45.7
18.9
16.2
79.2
46.0
17.1
16.1
79.8
46.1
17.9
15.8
81.3
46.6
18.7
16.0
444.9
468.2
466.3
471.1
473.2
483.5
487.4
490.4
1,273.6 1,332.7 1,329.4 1,348.7 1,388.1 1,432.5 1,452.7 1,459.8
426.4
314.0
112.4
447.3
323.8
123.6
449.9
325.9
124.0
513.3
499.9
514.8
546.6
-31.8
545.5
551.7
13.4
521.9
550.2
-28.3
132.3
153.3
176.6
209.2
171.4
444.8
311.7
133.1
455.2
319.6
135.7
565.9
564.7
1.3
609.8
597.8
619.5
605.9
622.6
610.6
12.0
13.6
12.0
153.4
163.6
165.1
174.1
174.0
188.1
221.1
182.3
186.8
221.3
181.9
190.1
223.2
185.0
186.8
220.3
182.0
187.5
221.9
183.1
187.8
221.1
182.0
39.0
38.9
39.4
38.2
38.2
38.9
39.1
32.6
34.0
33.0
34.6
33.2
33.4
34.5
33.3
25.1
27.5
23.1
29.1
24.4
31.2
15.7
22.0
27.7
33.4
25.7
30.9
26.9
31.6
20.2
24.7
447.2
321.9
125.3
440.8
314.7
126.1
445.0
313.6
131.4
-6.2
151.9
186.9
220.9
181.9
37.9
2.4
6.0
6.8
6.3
5.7
5.2
4.7
4.5
.1
-.1
-.4
0
0
0
0
0
-166.2 -210.4 -212.2 -221.0 -258.7 -289.2 -302.9 -304,4
64.0
50.1
-230.2 -260.6
50.5
52.2
46.2
28.5
1991
1991
III
28.4
262.7 -273.2 -304.8 -317.6 -331.3
30.1
3345
Receipts
Personal tax and nontax
receipts
Income taxes
Nontaxes
Other
Corporate profits tax accruals
Indirect business tax and
nontax accruals
Sales taxes
Property taxes
Other
Contributions for social
insurance
Federal grants-in-aid
Expenditures
Purchases
Compensation of
emolovees
other „::!:..::::::::::::
Transfer payments to persons
Net interest paid
Interest paid
Less: Interest received by
government
Less: Dividends
received by
government!
Subsidies less current surplus
of government enterprises .
Subsidies
Less: Current surplus of
government enterprises ..
Less: Wage accruals less
disbursements
Surplus or deficit (-),
national income and
product accounts
Social insurance funds
Other
III
1992
IV
II
I
III
729.3
777.9
769.3
783.5
804.6
817.8
834.0
840.0
138.7
106.0
145.4
110.3
144.1
109.5
145.2
109.9
150.1
114.2
151.1
114.6
152.9
115.8
153.3
115.7
15.5
17.2
16.7
18.4
16.5
18.1
16.8
18.5
17.1
18.8
17.4
19.1
17.7
19.4
18.0
19.6
22.7
21.5
21.3
22.1
21.7
24.2
25.8
23.6
378.2
183.5
155.4
397.0
189.0
167.7
391.9
186.2
166.2
401.7
192.3
169.3
407.1
192.9
172.4
414.6
197.3
175.6
417.8
198.5
178.9
425.1
201.6
182.3
39.4
40.4
39.5
40.1
41.8
41.7
40.4
41.2
57.3
60.6
60.2
61.0
62.0
62.7
63.4
64.0
132.3
153.3
151.9
153.4
163.6
165.1
174.1
174.0
699.2
760.7
752.8
768.1
782.5
801.2
816.3
830.8
616.8
643.2
640.8
646.0
649.5
658.0
664.3
669.0
411.4
205.4
435.6
207.6
434.5
206.4
437.4
208.6
441.6
207.9
446.2
211.8
453.5
210.8
457.2
211.8
164.7
198.0
193.2
202.3
211.8
220.8
229.4
238.7
-52.4
-48.4
-49.0
-47.9
-46.6
-45.4
-44.3
-43.3
60.7
63.7
63.4
64.1
64.8
65.4
66.1
66.8
110.8
110.4
110.1
10.0
10.1
113.1
112.1
112.4
112.0
111.3
9.0
9.5
9.5
9.5
9.6
9.7
-20.9
.4
-22.6
.4
-22.8
.4
-22.9
.4
-22.6
.4
-22.5
.4
-23.2
.4
-23.6
.4
21.3
23.0
23.2
23.2
23.0
22.9
23.6
24.0
0
0
0
0
0
0
0
0
9.2
30.1
17.1
16.5
15.4
22.0
16.6
17.7
63.0
60.3
60.7
59.9
59.4
58.4
58.0
57.2
-32.9
-43.1
-44.1
-44.5
-37.3
-41.8
-40.3
-48.0
SURVEY OF CURRENT BUSINESS
1O • December 1992
Table 3.7B.—Government Purchases by Type
Table 3.8B—Government Purchases by Type in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
1990
1991
1991
II
Government purchases
Federal
National defense
Durable goods
Nondurable goods
Services
Compensation of
employees
Military
Civilian
Other services
Structures
Nondefense
Durable goods
Nondurable goods
Commodity Credit
Corporation
inventory change ...
Other nondurables
Services
Compensation of
employees
Other services
Structures
State and local
Durable goods
Nondurable goods
Services
Compensation of
employees
Other services
Structures
II
I
IV
III
Seasonally adjusted at annual rates
1992
II
III
1,043.2 1,090.5 1,090.8 1,093.3 1,090.3 1,103.1 1,109.1 1,124.2
426.4 447.3 449.9 447.2 440.8 445.0 444.8 455.2
314.0 323.8 325.9 321.9 314.7 313.6 311.7 319.6
84.2
11.8
84.1
12.2
86.2
11.2
82.7
11.2
80.2
12.5
79.5
10.3
76.7
12.1
211.8
222.5
223.3
223.7
217.1
218.7
216.8
.11.7
222.0
125.5
132.6
133.0
131.3
130.9
135.2
135.2
135.2
82.9
42.5
86.4
88.6
44.0
90.0
89.2
43.8
90.3
87.5
43.8
92.4
86.5
44.4
86.2
88.9
46.3
83.4
88.4
46.8
81.6
88.2
47.0
86.8
80.1
6.3
4.9
5.2
4.3
4.9
5.2
6.0
5.7
112.4
5.9
5.1
123.6
6.8
7.0
124.0
7.1
8.0
125.3
7.0
7.0
126.1
7.0
5.3
131.4
7.2
7.1
133.1
7.4
8.0
135.7
8.0
9.2
-1.7
1.3
6.6
99.5
-.3
7.3
102.1
-2.0
93.4
.4
6.6
100.4
7.4
102.9
-.7
7.9
106.2
-.2
8.2
107.2
1.5
7.7
106.6
54.8
38.6
59.4
41.0
59.4
40.1
60.0
42.1
62.9
43.2
10.9
63.5
43.7
10.4
63.8
42.8
11.9
6.8
1991
1991
1990
8.0
9.4
9.5
9.2
60.2
42.7
10.8
616.8
643.2
640.8
646.0
649.5
658.0
664.3
669.0
34.9
56.0
36.4
58.0
36.3
57.7
36.4
57.9
36.7
57.8
36.8
57.3
37.0
58.7
37.2
59.2
440.6
462.1
461.6
463.8
466.6
470.4
475.7
478.9
411.4
435.6
434.5
437.4
441.6
446.2
453.5
457.2
29.2
85.3
26.6
86.7
27.1
85.3
26.5
87.8
25.0
88.4
24.2
93.5
22.2
92.9
21.7
93.7
Government purchases
Federal
National defense
Durable goods
Nondurable goods
Services
Compensation of
employees
Military
Civilian
Other services
Structures
Nondefense
Durable goods
Nondurable goods
Commodity Credit
Corporation
inventory change ...
Other nondurables
Services
Compensation of
employees
Other services
Structures
State and local
Durable goods
Nondurable goods
Services
Compensation of
employees
Other services
Structures
929.9
941.0
383.6
283.3
388.3
282.8
80.3
78.6
10.4
9.3
188.3
108.8
72.2
36.6
79.5
1992
II
I
IV
III
945.6
393.8
287.6
940.2
933.1
937.0
387.2
280.6
378.2
271.0
375.3
265.6
80.7
74.1
III
934.2
372.7
262.1
943.0
71.5
11.0
74.8
10.3
181.1
9.7
177.2
174.5
177.5
104.6
103.5
102.5
101.8
69.0
35.6
76.6
67.8
35.7
73.7
66.6
35.9
72.0
65.9
35.9
75.7
77.5
10.0
74.7
10.8
189.6
9.9
192.5
189.5
108.6
110.0
106.6
72.9
35.7
81.0
74.5
35.5
82.5
71.2
35.4
82.9
5.4
4.2
4.4
3.6
4.3
4.5
5.1
4.8
100.3
5.7
5.2
105.5
6.8
6.5
106.2
7.0
7.4
106.6
7.1
6.3
107.2
7.2
5.4
109.7
7.5
6.9
110.6
7.8
7.4
112.1
8.4
7.8
.7
5.9
1.5
5.9
-.1
6.5
-.1
7.0
.1
7.3
.9
6.9
-1.0
6.2
-1.2
6.6
82.3
83.9
83.4
85.1
85.1
85.6
86.3
85.5
47.5
34.8
48.6
35.4
48.6
34.9
48.9
36.2
48.8
36.3
49.0
36.5
49.3
36.9
7.2
8.2
8.3
8.1
9.5
9.7
9.2
49.3
36.2
10.4
546.3
552.7
551.8
553.0
554.9
561.8
561.5
563.5
32.2
48.4
32.7
50.3
32.7
50.3
32.8
50.4
32.8
50.5
32.7
50.5
32.7
50.6
32.8
50.7
387.8
391.3
392.1
390.9
391.1
391.6
392.9
394.6
353.5
357.5
358.3
357.1
357.3
357.7
359.5
361.2
34.4
77.8
33.8
78.3
33.8
76.7
33.8
78.9
33.8
80.6
33.9
86.9
33.4
85.2
33.4
85.4
Table 3.10.—National Defense Purchases
Table 3.11.—National Defense Purchases in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
National defense
purchases
314.0
3238
325.9
321.9
314.7
313.6
311.7
319.6
Durable goods
84.2
84.1
86.2
82.7
80.2
79.5
76.7
80.1
Military equipment
Aircraft
Missiles .
Ships
Vehicles
Electronic equipment
Other
Other durable goods
Nondurable goods
79.5
29.0
78.1
27.0
79.9
27.8
76.7
27.1
74.0
71.3
74.0
150
164
159
158
227
157
12.5
12.1
12.5
11.2
11.3
45
7.1
11 4
4.6
47
6.7
11 2
6.0
56
7.5
106
6.3
158
126
49
6.1
101
6.0
257
163
120
38
6.2
101
6.2
73.5
23.1
43
6.5
125
6.0
41
6.2
11 3
5.4
224
167
11 4
50
6.9
11 7
6.1
11.8
12.2
11.2
11.2
12.5
10.3
12.1
11.7
Petroleum products
Ammunition
Other nondurable goods ....
Services
Compensation of
employees
Military
Civilian
Other services
Contractual research and
development
Installation support '
Weapons support2
Personnel support3
Transportation of
material
Travel of persons
Other
Structures
Military facilities
Other
5.3
3.4
3.0
5.0
3.6
3.5
3.9
3.8
3.5
4.5
3.4
3.3
5.1
39
3.5
4.1
2.6
3.6
3.8
5.1
3.2
4.0
4.2
3.5
211.8
2225
223.3
223.7
217.1
218.7
216.8
222.0
1326
88.6
44.0
90.0
1330
89.2
43.8
90.3
1313
87.5
43.8
92.4
1309
86.5
44.4
86.2
135.2
135.2
135.2
82.9
42.5
86.4
88.9
46.3
83.4
88.4
46.8
81.6
88.2
47.0
86.8
31.7
22.5
10.4
13.6
25.6
23.1
11.2
13.0
25.5
22.3
10.6
13.5
26.0
23.3
11.1
13.4
24.1
22.8
12.1
11.6
22.0
24.2
11.5
11.6
22.8
23.0
12.0
11.6
23.8
24.9
12.5
12.2
93
8.5
-8
108
8.4
-7
—1 3
6.3
4.9
5.2
3.6
2.6
2.5
2.4
2.8
2.5
125.5
47
4.1
-6
9.3
__ c
6.2
8.3
-.4
5.4
7.3
-.4
6.0
8.1
-8
4.3
4.9
5.2
6.0
5.7
1.9
2.4
2.6
2.3
3.1
2.1
3.7
2.3
3.4
2.3
97
10.2
68
1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors to
operate installations.
2. Includes depot maintenance and contractual services for weapons systems, other than research and
development.
3. Includes compensation of foreign personnel, consulting, training, and education.
National defense
purchases
Durable goods
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment
Other
Other durable goods
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods ....
Services
Compensation of
employees
Military
Civilian
Other services
Contractual research and
development
Installation support2l
Weapons support
Personnel support3
Transportation of
material
Travel of persons
Other
Structures
Military facilities
Other
379.5
267.4
283.3
282.8
287.6
280.6
271.0
265.6
262.1
267.4
80.3
78.6
80.7
77.5
74.7
74.1
71.5
74.8
75.7
27.5
15.6
11.3
72.6
24.9
16.8
18.3
74.6
25.8
16.6
10.6
71.5
25.2
16.4
10.7
68.3
23.1
17.1
10.1
67.9
20.9
16.6
65.7
20.7
16.4
68.2
20.0
17.7
42
6.7
103
4.5
9.3
43
6.3
99
6.0
10.4
53
7.1
94
6.1
9.9
46
5.7
89
6.0
10.0
33
5.8
89
6.4
10.8
9.6
38
6.0
109
6.3
9.7
9.6
3.7
5.7
9.7
5.8
11.0
9.6
4.5
6.3
10.1
6.6
10.3
3.6
3.1
2.6
3.7
3.7
3.0
3.3
3.7
3.0
3.6
3.6
2.8
3.8
4.0
3.0
3.7
2.9
3.1
3.2
5.0
2.8
3.1
4.1
3.1
188.3
189.6
192.5
189.5
181.1
177.2
174.5
177.5
108.8
722
366
108.6
729
357
110.0
745
355
106.6
712
354
104.6
690
356
103.5
678
357
102.5
101.8
66.6
35.9
72.0
65.9
35.9
75.7
20.3
20.2
10.2
21.1
21.6
10.5
79.5
81.0
82.5
82.9
76.6
73.7
29.7
20.3
23.4
20.3
23.3
19.7
23.7
20.4
21.7
19.9
10.4
19.9
21.3
9.5
11.6
5.1
3.8
_5
9.8
9.3
9.6
10.3
10.8
10.7
8.9
10.3
12.6
10.5
7.7
8.4
-.4
7.5
-.6
7.4
-.6
9.0
-1.0
9.8
8.8
8.9
9.1
6.9
7A
6.1
6.7
6.8
7.3
-.6
5.4
4.2
4.4
3.6
4.3
4.5
5.1
4.8
3.3
20
2.3
19
2.5
19
1.7
1.8
2.4
1.8
2.8
1.7
3.2
1.9
3.0
1.8
1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors to
operate installations.
2. Includes depot maintenance and contractual services for weapons systems, other than research and
development.
3. Includes compensation of foreign personnel, consulting, training, and education.
SURVEY OF CURRENT BUSINESS
11
December 1992
Table 4.1 .—Foreign Transactions in the National Income and Product
Accounts
Table 4.2.—Exports and Imports of Goods and Services and
Receipts and Payments of Factor Income in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
1990
1991
1991
II
Receipts from rest of the world
III
Seasonally adjusted at annual rates
1992
IV
I
II
1990
737.5 740.1 756.0 761.0 756.7 767.9
717.6
741.7
557.0
398.1
262.6
135.5
159.0
598.2 594.3 602.3 622.9 628.1 625.4 639.0
423.1 421.1 423.5 437.7 437.3 435.2 446.7
282.0 284.2 285.2 293.3 293.2 292.8 298.3
141.0 136.8 138.4 144.3 144.1 142.4 148.3
175.1 173.2 178.8 185.3 190.8 190.2 192.4
Receipts of factor income 2
160.6 143.5 143.2 137.8 133.1 132.9 131.3 128.8
Capital grants received by the United
States (net)
....
0
0
0
0
0
0
0
0
Payments to rest of the world ... 717.6 741.7 737.5 740.1 756.0 761.0 756.7 767.9
Imports of goods
and services
Merchandise l
Durable
Nondurable
Services l
625.9
507.8
314.5
193.3
118.1
Payments of factor income3
139.9 126.0 126.5
Transfer payments (net)
From persons (net)
From government (net)
From business
Net foreign investment
620.0 609.6 629.5 638.9 636.2 662.5 675.0
499.9 489.5 508.7 516.2 513.1 537.0 559.7
315.3 305.7 323.1 327.5 330.2 339.1 352.9
184.6 183.9 185.6 188.7 182.9 197.9 206.7
120.1 120.0 120.8 122.7 123.1 125.5 115.3
-13.3 -16.7
9.3
9.7
9.8
13.4 -28.3 -31.8
5.2
5.3
5.3
27.9
-76.1
9.0
18.2
124.5 122.3 113.3 124.3 115.3
9.1
9.9
-6.2
5.3
16.2
9.7
1.3
5.3
27.4
10.2
12.0
5.3
29.3
10.4
13.6
5.3
II
III
Exports of goods and services
Merchandise l
Durable
Nondurable
Services l
27.1
10.0
12.0
1991
1991
Exports of goods and services
Merchandise 1
Durable
Nondurable
Services1
III
1992
IV
I
II
Hi
561.4
407.3
277.0
130.3
154.0
565.4
408.1
276.1
131.9
157.3
563.4
408.0
278.4
129.6
155.4
575.9
420.4
285.8
134.6
155.5
110.8
109.7 107.6 105.0
510.0
368.5
249.2
119.3
141.4
539.4
392.5
266.4
126.1
146.9
Receipts of factor income2
544.2
395.2
269.6
125.5
149.0
141.1 120.8 120.9 115.4
Imports of goods and services
Merchandise *
Durable
Nondurable
Services l
561.8
460.3
291.2
169.1
101.5
561.2 553.5 575.8 581.8 586.8 607.3 628.6
463.5 454.9 477.9 482.2 488.0 507.8 526.4
296.7 286.6 306.9 311.0 316.3 327.0 342.1
166.8 168.3 171.0 171.3 171.8 180.8 184.3
97.7
98.5
99.6
98.8
99.5 102.2
97.9
Payments of factor income3
122.6
105.4
536.1
390.1
267.9
122.1
146.1
106.2 103.6 101.0
92.7
101.0
93.0
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services.
2. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
3. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.
5.1
-22.9 -21.5 -16.0 -59.4 -49.6
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services.
2. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
3. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.
Table 4.3.—Exports and Imports of Merchandise by End-Use Category
Table 4.4.—Exports and Imports of Merchandise by End-Use Category
in Constant Dollars
[Billions of dollars]
Exports of merchandise
Foods, feeds and beverages ..
Industrial supplies and materials
Durable goods
Nondurable goods
Capital goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable aoods ... .
Imports of merchandise
Foods, feeds and beverages ....
Industrial supplies and materials, except
petroleum and products
Durable goods
Nondurable goods
Petroleum and products
Capita) goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Addenda:
Exports of agricultural products l
Exports of nonagricultural products ...
Imports of nonpetroleum products
1. Includes parts of line 2 and line 5.
398.1
423.1
421.1
351
357
331
423.5 437.7 437.3 435.2 446.7
367
386
402
378
423
102.0 106.4 106.5 104.1 104.9 104.2 104.8 106.6
35.7
66.3
37.2
69.2
38.0
68.5
37.8
66.2
36.4
68.5
36.1
68.1
35.7
69.1
38.0
68.6
153.3 167.0 169.4 166.7 176.3 176.4 173.9 173.7
32.2
25,9
952
36.5
42.8
229
36.4
27.3
1033
40.0
45.9
38.7
27.2
1034
39.7
44.5
238
232
35.4
26.8
1045
43.7
44.9
40.8
27.9
1076
41.7
48.2
42.6
27.4
1064
42.9
47.9
37.7
28.6
1076
46!2
48.5
232
249
249
250
33.3
28.9
111 5
49.0
51.3
257
19.9
22.2
21.3
21.7
278
274
230
256
25.6
279
232
281
23.6
284
240
237
14.2
13.9
13.9
13.7
14.0
12.8
12.0
11.9
142
139
139
137
140
128
120
119
507.8 499.9 489.5 508.7 516.2
513.1
267
265
27.6
263
264
78.0
268
537.0 559.7
291
81.4
28.3
82.4
77.6
75.6
75.3
75.5
390
363
360
365
370
396
389
394
38.7
39.2
39.2
38.9
41.0
41.3
42.5
51.7
42.9
56.6
12.3
33.8
91.9
91.2
80.9
623 51 2 517 525 488 41 5
116.0 120.7 120.4 121.3 122.1 125.1 131.4 138.0
10.5
23.0
11.7
26.1
12.2
25.8
825
829
824
87.7
84.9
79.1
12.5
27.1
81.7
90.8
11.5
26.8
12.1
27.7
13.5
30.7
838
854
872
88.6
87.8
105.3 108.0 101.6 109.9 118.7 116.2
55.7
49.6
32.2
16.1
16.1
56.8
51.2
33.0
16.5
16.5
53.3
48.4
33.8
16.9
16.9
40.2
40.1
37.5
58.2
63.0
517
557
3? 4
89.5
119.2 128.6
67.0
61.6
62.0
16.2
33.6
16.8
16.8
60.2
56.0
34.9
17.4
17.4
17.4
17.4
40.7
43.2
43.3
41.9
46.3
16?
573
347
174
34 R
174
357.9 382.9 383.6 382.9 394.5 394.0 393.3 400.3
445.5 448.7 437.8 456.2 467.4 471.6 485.3 503.1
Exports of merchandise
Foods feeds and beverages
Industrial supplies and materials
Durable goods
Nondurable goods
Capital goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
imports of merchandise
Foods, feeds, and beverages
Industrial supplies and materials, except
petroleum and products
Durable goods
. .
Nondurable goods
Petroleum and products
Capital goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
..
Durable goods
Nondurable goods
Addenda:
Exports of agricultural products '
Exports of nonagricultural products ...
Imports of nonpetroleum products
1.Includes parts of line 2 and line 5.
368.5 392.5 390.1
395.2 407.3 408.1 408.0 420.4
304
31 3
291
325
334
351
330
381
89.4
31.0
58.4
95.5
32.4
63.1
95.3
33.1
62.2
95.1
33.2
61.9
96.4
31.9
64.5
97.5
31.7
65.8
96.7
30.7
66.0
96.6
32.1
64.5
150.0 163.7 165.4 ' 163.8 172.5 173.1 174.0 177.1
28.6
33.8
87.6
34.0
39.2
21.4
17.8
25.6
12.8
12.8
30.9
40.6
92.2
36.3
40.9
21.6
19.2
248
12.4
12.4
33.1
39.3
93.0
36.0
39.4
21.0
18.5
24.8
12.4
12.4
29.8
41.3
927
39.4
39.9
21.0
18.9
245
12.2
12.2
34.2
43.9
94.4
37.5
42.7
22.7
20.0
24.9
12.4
12.4
35.5
44.1
93.5
38.4
41.3
?1fi
19.7
22.8
11.4
11.4
31.4
48.3
94.4
41.1
41.9
21.9
20.0
21.2
10.6
10.6
27.4
52.1
97.6
43.5
44.1
22.6
21.5
20.9
10.5
10.5
460.3 463.5 454.9 477.9 482.2 488.0 507.8 526.4
24.5
25.3
24.1
24.5
24.9
27.2
26.4
66.3
65.5
69.1
71.4
70.8
31 3
31 9
325
347
327
33.7
52.1
34.2
48.6
64.7
30.7
33.9
51.5
66.5
326
34.5
52.4
36.6
46.5
36.7
46.7
38.1
50.9
71.4
33.3
38.1
52.5
25.5
113.9 124.4 122.6 127.6
10.4
10.5
9.3 10.0
14.4
14.4
41.1
73.4
75.7
95.4
50.6
44.8
29.3
14.6
14.6
39.0
73.1
70.7
90.2
47.6
42.6
15.0
15.0
43.9
73.2
80.7
97.7
52.2
45.5
28.9
14.4
14.4
35.1
35.5
32.9
36.3
29.9
74.7
80.4
93.3
50.0
43.4
289
300
129.3 135.6 146.9 157.0
10.1
9.6 10.0
11.2
45.7
74.0
78.3
48.6
77.0
76.4
56.2
79.4
77.7
65.2
81.7
78.4
104.6 102.2 103.5 110.2
58.2
541 54.3
55.9
48.7
29.8
14.9
14.9
48.0
30.9
15.4
15.4
49.2
30.7
15.3
15.3
52.1
30.4
15.2
15.2
38.1
38.7
37.6
42.2
333.4 357.0 357.2 358.9 369.2 369.4 370.4 378.2
408.2 414.8 403.4 425.5 435.7 441.3 456.8 473.9
SURVEY OF CURRENT BUSINESS
12 • December 1992
Table 5.1 .—Gross Saving and Investment
[Billions of dollars]
Seasonally adjusted at annual rates
1991
1990
II
Gross saving
Gross private saving
Personal saving
Undistributed corporate
profits with inventory
valuation and capital
consumption adjusments
Undistributed profits
Inventory valuation
adjustment
Capital consumption
adjustment
Corporate consumption of
fixed capital
Noncorporate consumption
of fixed capital
Wage accruals less
disbursements
Government surplus or
deficit (-), national
income and product
accounts
Federal
State and local
Capital grants received by
the United States (net)
Gross investment
Gross private domestic
investment
Net foreign investment
Statistical discrepancy
1992
1991
I
IV
III
II
III
718.0
708.2
701.3
679.4
698.2
677.5
682.9
696.9
854.1
175.6
901.5
199.6
896.9
195.3
884.9
191.0
934.8
219.4
950.1
214.6
968.1
232.3
992.1
203.3
75.7
69.4
75.8
64.2
78.1
63.2
69.0
64.5
78.3
63.4
104.0
86.2
97.7
86.1
91.2
71.1
-14.2
3.1
9.9
20.5
8.4
5.1
9.3
368.3
383.0
382.5
234.6
243.1
241.0
0
0
0
0
.7
-5.4
15.5
-9.7
14.1
23.3
27.0
29.7
383.5
386.3
386.1
391.2
407.2
241.4
250.7
245.3
247.0
290.4
0
0
0
0
-4.8
-136.1 -193.3 -195.6 -205.6 -236.6 -272.6 -285.2 -295.2
-166.2 -210.4 -212.2 -221.0 -258.7 -289.2 -302.9 -304.4
15.4
16.5
17.1
9.2
17.7
16.6
22.0
30.1
0
0
0
0
0
0
0
0
723.4
730.1
728.4
709.9
714.6
706.5
713.8
732.0
799.5
-76.1
721.1
9.0
710.2
18.2
732.8
-22.9
736.1
-21.5
722.4
-16.0
773.2
-59.4
781.6
-49.6
27.1
30.5
16.4
29.0
30.9
35.1
5.4
21.9
Table 5.4.—Fixed Investment by Type
Table 5.5.—Fixed Investment by Type in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1990
II
Fixed investment
Nonresidential
Structures
Nonresidential buildings, induding
farm
Utilities
Mining exploration, shafts, and
wells
Other structures
Producers' durable equipment
Information processing and related
equipment
Computers and
peripheral
eouioment l
aff_...::::..:::::.:.:.:::
Industrial equipment
Transportation and related
equipment
Other
Residential
Structures
Single family
Multifamily
Other structures
Producers' durable equipment
IV
I
II
577.6 541.1 545.8 538.4 528.7 531.0 550.3 549.6
201.1 180.1 185.2 175.6 169.7 170.1 170.3 166.1
127.4 132.4
122.6
116.8
115.8
114.4
108.1
27.2
28.6
28.6
28.9
29.0
30.5
30.7
31.1
15.4
15.3
15.6
14.5
14.5
13.5
10.3
13.4
11.8
13.6
13.3
150.1
8.3
8.8
8.7
9.6
9.4
376.5 360.9 360.6 362.8 358.9 360.8 380.0 383.5
124.7 127.4 129.9
139.3
123.6
121.3
34.8
88.1
89.5
34.2
89.4
81.3
33.3
88.0
81.5
34.5
90.2
79.2
36.1
91.2
79.6
37.6
92.3
78.3
39.6
91.7
79.0
41.4
97.9
80.8
83.1
81.0
85.1
71.0
85.9
71.8
88.4
70.6
82.6
69.3
82.3
70.4
98.3
71.3
91.2
72.2
123.0
131.4
215.6 190.3 186.2 194.2 198.2 207.2 214.8 217.0
208.8 183.7 179.5 187.5 191.7 200.3 207.9 209.9
111.7 115.1 117.4
108.7 95.4
89.5 100.4 104.8
19.3
80.8
6.8
15.1
73.1
6.6
15.4
74.5
6.7
14.1
73.0
6.7
13.8
73.0
6.5
12.9
75.8
6.9
14.2
78.6
6.9
II
12.8
79.7
7.1
Fixed investment
Nonresidential
Structures
Nonresidential buildings, including
farm
Utilities
Mining exploration, shafts, and
wells
Other structures
Producers' durable equipment
Information processing and related
equipment ..
Computers and peripheral
equipment *
Other
Industrial equipment
Transportation and related
eauioment ....
Other
Residential
Structures
Single family
Multifamily
Other structures
Producers' durable equipment
1992
1991
1991
III
793.2 731.3 732.0 732.6 726.9 738.2 765.1 766.6
1. Includes new computers and peripheral equipment only.
III
1990
1992
1991
1991
III
IV
I
II
III
732.9 670.4 669.8 671.4 669.3 681.4 705.9 710.0
538.1 500.2 503.0 498.7 492.1 495.8 514.7 518.7
179.1 157.6 162.2 153.0 148.4 149.4 149.1 144.7
134.9
113.0
117.5
103.6
103.0
101.4
24.1
25.0
25.1
25.2
25.2
26.5
26.5
95.2
26.8
12.6
11.7
11.9
11.0
11.1
10.5
10.4
10.7
10.6
12.0
7.6
7.9
7.7
108.3
8.5
8.5
9.4
359.0 342.6 340.8 345.8 343.7 346.4 365.6 374.0
130.0
136.1
131.9
139.0
143.8
148.2
153.8
167.1
45.3
84.7
79.0
51.4
84.7
68.9
48.4
83.5
69.4
53.6
85.4
67.1
57.6
86.2
67.0
61.5
86.8
65.7
67.9
85.9
65.9
75.5
91.6
66.5
76.7
73.2
75.0
62.5
76.0
63.4
77.7
62.0
72.3
60.6
71.2
61.2
84.1
61.8
78.2
62.1
194.8 170.2 166.9 172.6 177.3 185.6 191.2 191.3
188.2 163.9 160.4 166.3 171.0 179.0 184.6 184.6
89.4
102.9
103.7
97.6
85.5
80.5
93.9
100.6
17.3
73.3
6.5
13.6
64.8
6.4
1. Includes new computers and peripheral equipment only.
13.9
66.0
6.5
12.6
64.3
6.4
12.4
64.7
6.3
11.6
66.8
6.6
12.7
69.0
6.6
11.3
69.6
6.7
SURVEY OF CURRENT BUSINESS
Table 5.10.—Change in Business Inventories by Industry
December 1992 • 13
Table 5.11.—Change in Business Inventories by Industry in Constant
Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
1996
1991
1991
II
Change in business inventories
Farm
Nonfarm
Change in book value
Inventory valuation adjustment
Manufacturing
Durable goods
Nondurable goods ..
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Automotive
Other
Nondurable goods
Other
Durable goods
Nondurable goods
6.3 -10.2
3.1
0
3.3 -10.3
24.5 -14.0
-21.3
3.8
3.8 -7.5
.4 -11.3
3.4
3.8
5.0
.9
2.3 -1.5
2.4
2.7
3.7
1.8
2.5 -1.4
3.1
1.2
1.3
-.8
-.2 -.1
-.7
1.5
-4.3
2.2
-2.5
-1.5
-.9
-1.9
-.1
-12.6
-14.0
1.4
-11.9
-13.5
1.6
-11.3
-12.0
.7
-.6
-8.2
-7.9
.9
1.4
4.7
4.9
.2
-1.7
14
-.4
3.9 -3.3
1 2 -5.9
-1.1
-7.1
-1.5
-4.7
-1.1
-3.8
-3.8
-.1
I
9.2 -15.8
.2
1.4 -5.3
24
-1.2
14.5 -13.3
5.9 16.3 -5.6
11.2
1990
1992
IV
III
-21.8
5.2
-27.0
-38.1
Seasonally adjusted at annual rates
-1.8
-12.5
-16.3
-.3
3.9
-.3 15.5
-3.7
9.4
3.4
6.1
17.4
10.5
-2.0
-5.1
3.1
1.6
1.4
.3
7.0
-2.0
-1.1
-.9
14.4
14.3
8.4
7.0
1.3
6.0
70
.9
9
1.8
-3.8
-3.2
13.4
-2.8
-2.0
-.8
II
III
8.1
1.7
6.4
15.0
28.8
5.3
9.7
22.9
-22.4 -13.2
-7.7
3.4
10.1
-5.8
-15.1 -9.3
1.6
9.3
5.0
-6.7
3.8 -3.0
5.7
2.8
-10.1
1.9 -5.8
3.3
2.5 -4.2
-6.1
5.9
-9.5
1.3
3.4 -3.4
-5.5
-.7
1.3
1.2
-.2
1.5
-.6
-.1
1.5 -.2
.2 12.9 11.0
7.7
7.3 11.1
6.1
1.8
5.4
5.0
5.9
1.9
-7.1
1.8
3.3
-1.7
3.4 -2.6
1 4 2.0 -1.9
.2
4.8 -4.5
-7.8
1991
1991
II
Change in business inventories
Farm
Nonfarm
Manufacturing
Durable goods
Nondurable goods .
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Automotive
Other
Nondurable goods
Other
Durable goods
Nondurable goods
6.2
2.5
3.7
3.7
.4
3.4
4.6
2.2
2.4
3.7
2.4
1.3
.8
-.2
1.1
-3.7
-2.3
-1.4
-.8
-1.5
-.9
-1.0
.2
-20.4
4.1
-24.5
-11.4
-12.8
1.4
11 1
-12.2
1.1
-10.5
-10.8
.3
-.6
-9.3
.3
-9.6
-6.9
-10.3
3.4
.9
-1.3
2.2
1.5
-1.2
1992
.6
1.6
-1.9
11.8
-10.7
-11.3 -8.7
-14.8 -13.5
3.5
4.8
13.3
56
8.4 -9.0
-3.2
3.4
5.0
3.3
-7.6
-7.3
15.2
-1.5
-4.6
-5.3
-4.3
-1.0
-6.2
-3.4
-2.8
3.0
1.6
1.3
.2
3.5
-.7
-.5
-.1
.5
6.5
4.8
1.7
-1.8
-1.1
-.7
12.3
.8
-.9
1.6
7.6
6.5
1.1
5.2
11.5
-6.0
-2.6
-1.8
-1.3
3.2
7.8
1.8
6.0
15.0
-1.8
11.8
9.9
5.5
4.4
1.9
-2.5
III
I
Inventories
1,089.6 1,085.5 1,082.1 1,085.1
Farm
96.9
93.0
90.5
101.1
Nonfarm
988.5 988.6 991.6 992.1
Durable goods
571.7 569.1 568.5 568.3
Nondurable goods
416.8 419.5 423.1 423.8
Manufacturing
411.9 409.9 406.7 404.0
Durable goods
265.2 262.7 259.4 256.4
Nondurable goods
146.7 147.1 147.3 147.6
Wholesale trade
231.4 231.8 235.5 236.0
Durable goods
147.6 146.6 149.6 148.7
85.9
85.2
Nondurable goods
87.3
83.7
204.7 204.6 208.8 209.8
Merchant wholesalers
131.2 129.8 133.0 132.4
Durable goods
77.4
75.9
74.8
73.5
Nondurable goods
26.7
27.2
26.2
26.6
Nonmerchant wholesalers
16.4
16.6
16.8
16.4
Durable goods
10.4
10.1
10.2
9.8
Nondurable goods
248.9 252.5 255.8 257.4
Retail trade
119.1 121.3 121.5 124.9
Durable goods
63.5
61.7
65.0
63.1
Automotive
58.4
Other
59.8
57.8
.57.4
129.7 131.1 134.3 132.5
Nondurable goods
Other
94.7
96.4
93.6
94.5
Final sales of domestic business2 ... 399.3 401.8 403.9 411.1
Final sales of goods and2 structures
222.1 221.6 221.2 226.1
of domestic business
II
1991
414.5
92.4
1,006.1
573.7
432 4
405.2
252.7
152.5
238.7
152.0
86.7
21 1 .6
135.3
76.3
27.1
16.7
10.4
267.0
130.7
67.6
63.0
136.3
95.3
419.1
226.7
228.8
999.4
572.0
427.5
403.1
253.9
149.1
238.3
150.7
87.6
211.7
134.4
77.3
26.6
16.3
10.3
263.3
128.6
67.4
61.1
134.7
94.8
2.73
2.48
2.70
2.46
2.68
2.45
2.64
2.41
2.63
2.41
2.62
2.40
4.45
4.46
4.48
4.39
4.41
4.40
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated from
current-dollar inventories in this table is not the current-dollar change in business inventories (CBI) component of
GDP. The former is the difference between two inventory stocks, each valued at their respective end-of-quarter
prices. The latter is the change in the physical volume of inventories valued at average prices of the quarter. In
addition, changes calculated from this table are at quarterly rates, whereas CBI is stated at annual rates.
2. Quarterly totals at monthly rates. Rnal sales of domestic business equals final sales of domestic product
less gross product of households and institutions and general government and includes a small amount of final
sales by farm.
.1
1
Inventories . .
Farm
Nonfarm
Durable goods
Nondurable goods
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Automotive
Other
Nondurable goods
Other
Final sales of domestic business2 ...
Final sales of goods and2 structures
of domestic business
III
1992
IV
I
II
III
976.3
976.4
978.3
975.2
977.1
85.0
85.4
84.3
83.8
84.3
85.6
891.3
522.0
369.3
375.4
244.5
130.9
204.6
131.8
891.1
520.4
370.7
894.0
518.6
375.5
370.7
239.0
131.7
207.9
133.1
891.4
514.2
377.1
368.5
235.6
132.9
206.5
130.9
892.9
516.4
376.5
366.9
233.6
133.3
207.3
132.1
895.3
517.2
378.0
367.9
232.5
135.4
206.8
132.8
373.5
242.7
130.8
204.6
131.0
980.9
72.8
73.6
74.8
75.7
75.2
73.9
180.6
116.9
180.2
115.7
184.0
118.1
182.8
116.0
183.3
117.3
182.4
117.6
63.8
24.0
15.0
64.5
24.4
15.3
65.9
23.9
15.0
66.8
23.7
14.9
66.1
24.0
14.8
64.8
24.3
15.2
9.0
222.8
109.7
9.1
226.0
111.6
8.9
229.0
111.8
8.8
229.2
113.4
9.2
232.1
115.9
9.1
234.5
117.6
57.8
51.9
59.4
52.1
59.2
52.5
60.4
53.0
61.8
54.1
62.2
55.3
113.1
114.4
117.3
115.8
116.2
117.0
88.5
87.0
86.3
87.1
86.5
86.1
342.0
342.0
342.1
346.0
346.7
348.8
195.0
194.0
193.5
197.2
196.9
198.4
2.85
2.61
2.86
2.61
2.86
2.61
2.82
2.58
2.82
2.58
2.81
2.57
4.57
4.59
4,62
4.52
4.54
4.51
Ratio of inventories to final sales of domestic
business
Ratio of inventories to final sales of domestic
business
Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods
and structures
II
III
1,090.9 1,098.5
91.4
-1.6
-1.7
Seasonally adjusted quarterly totals
1992
IV
1.5
1.2
1.3
-.2
9.7
6.7
1.6
5.1
3.0
-4.2
[Billions of 1987 dollars]
II
2.8
-5.1
-5.0
1.1
-.2
1.3
[Billions of dollars]
l
8.3
-2.3
-3.1
Table 5.13.—Inventories and Final Sales of Domestic Business
by Industry in Constant Dollars
1991
-4.4
-3.5
Table 5.12.—Inventories and Final Sales of Domestic Business
by Industry
Seasonally adjusted quarterly totals
5.3
9.6
3.9
2.1
5.1
1.7
4.4
-.8
III
1.5
3.2
5.0
-4.9
-8.4
9.5
5.7
II
-6.5
-8.0
-.3
0
12.8
-.2
7.5 -12.6
-4.2
-1.0
2.7
-.6
-.1 -1.4
-.5
.8
1.7
1.7
4.4
-1.6
-1.3
4.5
-.1
-.3
3.3 -2.8
-3.6
-3.4
I
IV
III
Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods
and structures
1. Inventories are as of the end of the quarter. Quarter-to-quarter changes calculated from this table are at
quarterly rates, whereas the constant-dollar change in business inventories component of GDP is stated at annual
rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product
less gross product of households and institutions and general government and includes a small amount of final
sales by farm.
SURVEY OF CURRENT BUSINESS
14 • December 1992
Table 6.1C.—National Income Without Capital Consumption Adjustment
by Industry
Table 6.16C.—Corporate Profits by Industry
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1990
1991
1991
II
National income
without capital
consumption
adjustment
Domestic industries
Private industries
Agriculture, forestry, and
fisheries
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
Transportation and public
utilities
Transportation
Communications
Electric, gas, and
sanitary services ....
Wholesale trade
Retail trade
Finance, insurance, and
real estate
Services
Government
Rest of the world
III
1990
IV
I
II
II
III
4,496.5 4,587.5 4,575.6 4,595.4 46395 4,704.5 4,737.4 4,765.9
4,475.7 4,570.1 4,558.9 4,582.2 4,628.8 4,684.9 4,730.4 4,752.4
3,815.9 3,870.6 3,860.7 3,881.0 3,923.7 3,967.0 4,004.1 4,021.7
96.9
37.1
90.9
36.7
96.5
36.3
84.5
36.4
92.9
35.5
95.4
36.0
94.8
34.9
88.3
35.5
222.7
210.1
206.7
211.9
213.6
214.4
218.9
220.1
855.4
483.2
372.2
841.0
464.2
376.7
836.9
464.9
371.9
846.7
466.0
380.6
848.6
467.8
380.9
850.7
467.5
383.3
874.6
477.3
397.3
877.0
481.6
395.4
325.9
137.1
335.2
140.8
338.1
142.3
333.6
139.8
336.4
142.6
339.2
145.4
333.3
140.6
334.6
143.7
91.9
95.3
95.1
96.2
95.2
97.9
97.3
97.9
96.8
99.0
100.7
97.6
98.6
95.9
95.4
93.0
258.3
391.7
266.0
403.3
267.4
402.9
266.5
403.3
265.8
409.9
264.9
413.6
270.2
416.1
273.1
413.3
673.8 685.0
954.3 1,002.4
1991
1991
1992
679.8 687.7 694.2 704.0 698.5 702.5
996.1 1,010.5 1,026.9 1,048.8 1,062.8 1,077.3
659.8
699.4
698.2
701.2
705.0
717.8
726.2
20.7
17.4
16.7
13.3
10.8
19.6
7.0
730.7
13.5
Corporate profits with inventory
valuation and capital
consumption adjustments
Domestic industries
Financial
Nonfinancial
Rest of the world
Receipts from the rest of the world ...
Less: Payments to the rest of the
world
Corporate profits with inventory
valuation adjustment
Domestic industries
Financial
Federal Reserve banks
Other
Nonfinancial
Manufacturing
Durable goods
Primary metal industries
Fabricated metal products ....
Industrial machinery and
equipment
Electronic and other electric
equipment
Motor vehicles and
equipment
Other
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
361.7
III
1992
IV
I
II
III
346.3 347.3 341.2 347.1 384.0 388.4 374.1
296.0 279.8 280.9 279.3 284.2 315.3 327.4 309.0
47.7
49.9
49.6
52.8
48.9
59.6
51.2
30.6
248.3 229.9 231.4 226.5 235.3 255.7 276.2 278.5
65.7
67.7
2.0
66.5
62.5
66.3
61.7
61.9
59.8
62.9
59.1
68.7
67.1
-4.0
-4.7
-2.2
-3.8
-1.6
61.0
67.1
6.1
65.1
68.4
3.3
341.2 337.8 342.2 331.9 333.1 360.7 361.4 344.4
275.5 271.3 275.9 270.0 270.2 292.0 300.4 279.3
56.7
21.4
35.3
218.8
106.9
40.5
3.1
6.3
11.3
7.5
-2.6
14.9
66.5
13.2
16.2
14.6
22.5
43.9
35.8
32.1
65.7
60.9
20.2
40.7
60.7
20.2
40.5
63.6
20.0
43.6
59.7
19.8
39.9
70,1
18.8
51.3
210.4 215.1 206.4 210.5 221.9
89.3
25.8
90.3
29.0
91.8
26.2
87.5
24.8
97.5
31.8
61.3
18.5
42.8
40.3
17.2
23.1
239.0 239.0
115.2 118.0
38.3
43.8
1.1
5.4
1.2
5.5
.2
5.8
1.4
6.0
.8
6.1
1.1
7.8
.3
7.8
8.9
9.7
6.8
9.2
8.6
9.5
9.3
6.8
7.2
6.4
1.8
7.4
4.5
9.0
6.6
-6.9
10.8
63.5
16.6
16.1
7.7
23.1
46.1
44.0
31.1
66.5
6.9
5.5
-7.5
13.2
61.3
16.6
-4.3
12.2
65.7
18.4
-4.9
62.7
14.6
65.7
15.2
76.9
19.5
14.0
74.2
17.1
14.1
17.1
20.1
17.8
17.1
11.1
29.2
42.2
46.7
35.0
61.0
17.5
10.1
29.4
40.6
43.7
36.7
65.1
6.8
23.8
49.6
45.5
29.8
66.3
4.2
25.9
42.2
41.7
30.7
61.9
6.2
5.1
8.2
22.9
45.6
44.5
32.9
62.9
24.5
49.4
39.9
35.1
68.7
10.4
1.9
SURVEY OF CURRENT BUSINESS
December 1992 • 15
Table 7.1 .—Fixed-Weighted and Alternative Quantity and Price indexes for Gross Domestic Product
[Index numbers, 1987=100]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1990
Gross domestic product:
Current dollars
121.6
Quantity indexes:
107.4
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
Price indexes:
Fixed 1987 weights
113.5
Chain-type annual weights ....
Benchmark-years weignts
113.2
Implicit price deflator
Personal consumption expenditures:
Current dollars
122.8
Quantity indexes:
106.8
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weignts
Price indexes:
115.3
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weignts
115.0
Implicit price deflator
Durable goods:
115.0
Current dollars
Quantity indexes:
108.8
Fixed 1987 weights
Chain-type annual weignts . ..
Benchmark-years weignts
Price indexes:
Fixed 1987 weights
106.3
Chain-type annual weights
Benchmark-years weights
105.7
Implicit price deflator
Nondurable goods:
Current dollars
121.1
Quantity indexes:
Fixea 1987 weights
104.5
Chain-type annual weights
Benchmark-years weignts
Price indexes:
Fixed 1987 weights
116.2
Chain-type annual weights
Benchmark-years weignts
Implicit price deflator
115.9
Services:
125.8
Current dollars
Quantity indexes:
Fixed 1987 weights
107.8
1991
1991
1990
1992
II
III
IV
I
II
III
125.1
124.6
125.8
126.7
128.6
130.0
131.7
106.2
106.1
106.4
106.6
107.4
107.8
108.7
118.1
117.7 118.6 119.3 120.4
121.3
121.9
117.8 117.5 118.2 118.9
119.8 120.6
121.2
127.4
126.9
128.2
129.2
131.8
132.9
134.6
106.2
106.1
106.5
106.4
107.8
107.7
108.7
120.4
119.9
120.8
121.8
122.9
124.0
124.8
120.0
119.5
120.4
121.4
122.3
123.4
123.8
110.5
109.3
112.2
111.6 116.3
102.7
101.9
103.9
103.1
108.9
108.6
109.5
109.8 110.3 111.3 111.8
107.6
107.3
108.0
108.3
108.6
109.4
123.8
124.0
124.2
123.8
126.0
126.4 127.9
103.1
103.5
103.3
102.4
103.8
103.4
PivoH 1Qft7 lA/oinhtc
107.1
116.6 119.5
106.5
108.9
109.7
104.0
120.5
120.3
120.6
121.3
121.8
122.7
123.4
120.1
119.9
120.2
120.8
121.4
122.2
122.9
1.33.8 132.9
134.7
136.9
139.2
141.0
142.5
108.9
109.1
109.8
110.4
110.7
111.6
Benchmark-years weignts
Implicit price deflator
Gross private domestic investment:
Current dollars
Quantity indexes:
Fixed 1987 weights
108.8
116.9 123.1
122.5
123.8
125.1
126.6
127.8
128.7
116.7 122.8
122.1
123.4
124.7
126.1 127.4
127.7
106.7
96.2
94.8
97.8
98.2
96.4
103.2
104.3
98.6
88.2
86.7
89.7
90.3
89.3
95.2
96.8
Phain-tvnp annual wpinhtc
Rpnohrnsirk-vparc wpinhtQ
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weignts
Implicit price deflator
Fixed investment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weignts
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weignts
ImDlicit orice deflator
109.7
101.4
101.2 101.2
92.7
109.1 110.8
108,2
Chain-type annual weights
Benchmark-years weights .
Implicit price deflator
Producers' durable
equipment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
109.1
92.6
101.3 100.5 102.1 105.8
92.9
92.6
94.2
97.6
106.0
98,2
110.6 111.2 111.1 111.1 111.0 111.6
109.3
109.1
108.6
108,3
108.4
108.0
1992
1991
II
III
IV
I
II
III
116.0
108.7
109.6
108.2
106.2
106.7
110.6
110.4
108.1
100.5
101.0
100.2
98.9
99.6
103.4
104.2
108.3
110.4 110.2
110.6
110.7
110.8
111.1 111.5
107.3
108.2
108.5
108.0
107.4
107.1
106.9
106.0
117.4
105.1
108.1
102.5
99.1
99.3
99.4
97.0
104.6
92.0
94.7
89.3
86.6
87.2
87.0
84.4
112.4
114.3
114.2
114.9
114.4 114.0
114.4 115.0
114.2 114.8
114.4 113.9
114.2
114.9
110.5
116.4
117.5
112.3 114.3
M5.3
110.6 110.5
111.1 110.0
110.0 104.9
104.4 105.9
105.3
106.1
112.0
114.6
106.1
108.3
108.1
108.3
108.7
109.2
109.5
109.8
104.9
105.4
105.8
104.9
104.5
104.2
103.9
102.5
95.7
84.5
82.7
86.2
88.0
92.0
95.4
96.3
86.5
75.6
74.1
76.6
78.7
82.4
84.9
84.9
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
110.8
111.8
111.6
112.5
111.9
111.7 112.4 113.4
Implicit price deflator
110.7
111.8
111.6
112.5
111.8
111.7
112.3
113.4
153.0
164.4
163.3
165.5
171.2
172.6
171.8
175.6
140.1
148.2
147.3
149.5
154.2
155.3
154.8
158.2
110.1 112.4 112.3 112.1 112.8
113.0
113.6
114.1
Imnlirit nrirp ripflatnr
Residential:
Current dollars
Quantity indexes:
CivoH "1 QQ7 u/ninhte
Benchmark-years weionts
Price indexes:
Fixed 1987 weights
Nonresidential:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
Implicit price deflator
Structures:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Price indexes:
1991
Phain-tvnp annual uupinhtc
Exports of goods and services:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Imports of goods and services:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
109.2
110.9
110.9
110.7 111.0
111.1
111.0
111.0
123.4
122.3
120.2
124.1
126.0
125.5
130.7
133.1
110.8
110.7
109.2
113.6
114.8
115.7
119.8
124.0
112.6
113.7 113.0
112.8 113.7 112.9
114.2
115.8
111.4
110.5
108.4
109.1
107.4
110.1
109.3
109.8
SURVEY OF CURRENT BUSINESS
l6 • December 1992
Table 7.1.—Fixed-Weighted and Alternative Quantity and Price Indexes
for Gross Domestic Product—Continued
Table 7.2.—Fixed-Weighted and Alternative Quantity and Price Indexes
for Gross Domestic Product, Final Sales, and Purchases
[Index numbers, 1987=100]
[Index numbers, 1987=100]
Seasonally adjusted
Seasonally adjusted at annual rates
1990
1991
1991
II
Government purchases:
Current dollars
118.3
Quantity indexes:
Fixed 1987 weights
105.5
Chain-type annual weights ....
Benchmark-years weights
Price indexes:
112.5
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weignts
112.2
Implicit price deflator
Federal:
110.8
Current dollars
Quantity indexes:
99.7
Fixed 1987 weights
Chain-type annual
weights
Benchmark-years
weights
Price indexes:
112.0
Fixed 1987 weights
Chain-type annual
weights
Benchmark-years
weights
111.2
Implicit price deflator
National defense:
107.5
Current dollars
Quantity indexes:
Fixed 1987
97.0
weights
Chain-type annual
weights
Benchmark-years
weights
Price indexes:
Rxed 1987
112.2
weights
Chain-type annual
weights
Benchmark-years
weights
Implicit price deflator .... 110.8
Nondefense:
121.0
Current dollars
Quantity indexes:
Fixed 1987
108.0
weights
Chain-type annual
weights
Benchmark-years
weights
Price indexes:
Fixed 1987
111.5
weights
Chain-type annual
weights
Benchmark-years
weights
Implicit price deflator .... 112.0
State and local:
124.2
Current dollars
Quantity indexes:
110.0
Rxed 1987 weights
Chain-type annual
weights
Benchmark-years
weights
Price indexes:
112.9
Fixed 1987 weights
Chain-type annual
weights
Benchmark-years
weights
112.9
Implicit price deflator
III
1990
1992
IV
I
II
III
123.7 123.7 124.0 123.7 125.1 125.8 127.5
106.7 107.3
106.7 105.8 106.3 106.0 107.0
116.5
116.9 117.7
116.0
115.9 115.4
116.2 116.9 116.2
114.5
100.6
98.2
100.9 102.3
118.6 119.6 120.3
116.3 116.9 117.7
118.7
119.2
115.6 115.5 118.3
97.5
96.8
98.6
116.7 115.9 116.9 118.3 120.1 120.9 122.0
115.2 114.3
115.5 116.6 118.6 119.3 120.0
110.9 111.6
110.2 107.8 107.4 106.7 109.4
96.8
98.5
116.5 115.5
114.5
96.1
116.7
113.3 114.7
92.8
90.9
89.8
118.5 120.2 121.0
91.5
122.2
116.2 118.1 118.9 119.5
133.0 133.5 135.0 135.7 141.5 143.3 146.1
113.6 114.3
114.8 115.4 118.1 119.1
119.7
120.7
120.2 120.9
117.0
116.9
117.6
117.7
117.1
116.8
117.6
117.6 119.8 120.3 121.0
129.5 129.0
130.1 130.8 132.5 133.8 134.7
111.3
111.1
111.4
111.7
116.4
116.2
116.9
117.2 117.4
116.4 116.1
116.8 117.1
113.1
117.1
113.1
113.5
118.5 118.9
118.3 118.7
NOTE.—The quantity and price indexes in this table are calculate from weighted averages of the detailed output
and prices used to prepare each aggregate and component. The fixed weighted measures use as weights the
composition of output in 1987. For the alternative indexes, the chain-type indexes with annual weights use weights
for the preceding and current years, and the indexes with benchmark-years weights use weights of 1959, 1963,
1967, 1972, 1977, 1982, and 1987 and the most recent year Percent changes from preceding period for selected
items in this table are shown in table 8.1.
1991
Gross domestic product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Final sales of domestic product1:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Gross domestic purchases2:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weignts
Implicit price deflator
Final sales to domestic purchasers3:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
1992
1991
II
III
IV
I
II
III
121.6
125.1
124.6
125.8
126.7
128.6
130.0
131.7
107.4
106.2
106.1
106.4
106.6
107.4
107.8
108.7
113.5
118.1
117.7
118.6
119.3
120.4
121.3
121.9
113.2
117.8
117.5
118.2
118.9
119.8
120.6
121.2
122.2
126.0
125.8
126.6
127.3
129.7
130.6
132.1
107.9
107.0
107.2
107.0
107.0
108.3
108.2
109.0
113.6
118.2
117.8
118.7
119.4
120.4
121.4
122.0
113.2
117.8
117.4
118.3
118.9
119.8
120.7
121.2
119.4
121.7
121.1
122.6
123.2
124.9
126.8
128.4
105.3
103.4
103.2
103.9
103.8
104.5
105.4
106.5
113.7
118.1
117.6
118.5
119.2
120.2
121.1
121.9
113.4
117.7
117.3
118.0
118.7
119.5
120.3
120.6
119.9
122.6
122.3
123.3
123.7
125.9
127.4
128.8
105.7
104.2
104.3
104.4
104.2
105.4
105.8
106.8
113.8
118.2
117.8
118.6
119.3
120.2
121.2
122.0
113.4
117.7
117.3
118.0
118.7
119.5
120.3
120.7
1. Equals GDP less change in business inventories.
2. Equals GDP less net exports of goods and services or the sum of personal consumptions expenditures,
gross private domestic investment, and government purchases.
3. Equals gross domestic purchases less change in business inventories or the sum of personal consumption
expenditures, gross private domestic fixed investment, and government purchases.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
SURVEY OF CURRENT BUSINESS
Table 7.3.—Fixed-Weighted and Alternative Quantity and Price Indexes
for Gross National Product and Command-Basis Gross National
Product
December 1992
Table 7.6.—Price Indexes for Fixed Investment by Type, Fixed
1987 Weights
[Index numbers, 1987=100]
[Index numbers, 1987=100]
Seasonally adjusted
Seasonally adjusted
1990
1991
II
III
1990
IV
I
II
II
124.9 126.0 126.8 128.9 130.0 131.9
122.0
125.3
107.7
106.4 106.3 106.6 106.7 107.6 107.8 108.8
113.5
118.1
117.7
118.6 119.3 120.4 121.3 121.9
113.2
117.8
117.4
118.2
153.0 158.1
138.8 140.8
157.2
140.1
157.8 161.2
140.6 143.3
119.8
120.6 "l2l".2
162.3 161.3 163.7
143.9 143.1 145.2
153.0 164.4 163.3 165.5 171.2 172.6 171.8
136.8 141.3 141.0 142.2 144.6 147.1 145.3
175.6
149.5
122.0 125.3 124.9 126.0 126.8 128.9 130.0 131.9
107.5 106.5 106.4 106.7 106.8 107.9 108.0 109.3
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 7.4.—Price Indexes for Personal Consumption Expenditures
by Major Type of Product, Fixed 1987 Weights
[Index numbers, 1987=100]
Personal consumption
expenditures
Durable goods
Motor vehicles and parts
Furniture and household equipment ..
Other
Nondurable goods . .
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services
Housing
Household operation .. .
Electricity and gas
Other household operation
Transportation
Medical care
Other
Addenda:
Price indexes for personal
consumption expenditures:
Chain-type annual weights . .. .
Benchmark-years weights .
106.3 108.9 108.6 1095
1098
1103
1113
1088 1085 1096 1099 1100 ill 6 1128
102.4 103.0 102.9 103.3 102.9 103.8 104.1 103.8
1194
1212
1228
1235
1245
121.3 1218 122.7 123.4
1157
1206
1201
1204
1203
1213
121 7 1223
111.4 115.3 115.1 115.5 116.6 117.6 118.0
125.6 123.8 122.6 1217 122.1 1199 122.8
1255 121 2 1170 1173 1205 1135 1151
1175
1237
1231
1242
1255
1264
1279
1177
1253
1193
1289
116.9 123.1 122.5 123.8 125.1 126.6 127.8 128.7
115.4 1202
119.7 120.5 121.7 1230 123.7 124.3
1093 1101 1108 111 4 1122 1131
1059
1056
1098
1088
106.0
114.5
124.2
117.4
110.6 110.5 111.4
121.9 120.8 1227
1328 132.0 133.7
123.7 123.1 124.5
1080
111
110.8
110.6
111.2
111.1
111.1
111.0
111.6
108.3
110.4
110.2
110.6
110.7
110.8
111.1
111.5
Structures
Nonresidential buildings, including
farm
Utilities
Mining exploration, shafts, and
wells
Other structures
112.4
114.3
114.2
114.9
114.4
114.0
114.4
115.0
111.3 112.8 112.6 113.2 112.8 112.4 112.8
113.3 114.4 114.2 114.8 114.8 115.1 115.6
113.6
116.0
122.7 130.5 130.7 132.3 130.5 129.9 129.3
110.0 112.2 112.8 112.7 111.6 110.0 111.2
128.4
111.8
Producers' durable equipment
Information processing and related
equipment
Computers and peripheral
equipment1
Other1
Industrial equipment
Transportation and related
eauioment
Other
106.1
108.3
108.1
108.3
108.7
109.2
109.5
109.8
96.2
94.6
95.0
94.0
93.8
93.8
93.2
92.3
78.6
70.0
71.8
68.3
66.9
65.3
62.4
59.0
104.1 105.7 105.6 105.8 106.1 106.8 107.2 107.8
113.4 117.9 117.3 117.9 118.7 119.1 119.8 121.4
108.8 113.4 112.9 113.7
111.0 114.4 114.0 114.7
114.7 115.9 116.9
115.2 115.6 116.1
117.1
117.0
112.4
113.4
110.8
111.8
111.6
112.5
111.9
111.7
Structures
Single family
Multifamily
Other structures
111.0
111.4
111.2
110.2
112.0
111.7
111.4
112.8
111.8
111.2
110.9
112.9
112.7
112.3
112.0
113.5
112.1
111.7
111.4
113.0
111.9 112.6 113.7
111.0 111.9 113.3
110.7 111.6 112.9
113.5 113.8 114.5
Producers' durable equipment
104.1
104.2
103.6
105.5
103.6
104.4 105.0
Residential
105.3
Addenda:
Price indexes for fixed investment:
Chain-type annual weights
Benchmark-years weights
1087
1101
1096
1104
111.3
124.2
135.6
125.6
113.0
127.3
137.6
126.9
113.8
126.4
139.6
128.4
Table 7.9.—Price Indexes for Exports and Imports of Goods
and Services and for Receipts and Payments of Factor Income,
Fixed 1987 Weights
[Index numbers, 1987=100]
1247
116.2 120.5 120.3 1206
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
1118
1054
1205
II
1. Includes new computers and peripheral equipment only. Prior to 1982, all computers and peripheral
equipment are included in other information processing and related equipment (line 11).
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
115.3 120.4 119.9 120.8 121.8 122.9 124.0 124.8
1159
I
109.1
Fixed investment
Nonresidential
118.9
III
IV
III
Gross national product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weignts
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weignts
Implicit price deflator
Less: Exports of goods and services
and receipts of factor income:
Current dollars
Quantity index, fixed 1987 weights
Plus: Command-basis exports of
goods and services and receipts
of factor income:
Current dollars
Quantity index, fixed 1987 weights
Equals: Command-basis gross
national product:
Current dollars .
Quantity index, fixed 1987 weights
1992
1991
1991
1992
1991
111 5
114.5
127.2
141.2
129.1
Exports of goods and services
Merchandise1
Durable
Nondurable
Services l
110.1
112.4
112.3
112.1
112.8
113.0
113.6
114.1
109.3 109.8 109.9 109.2 109.8 109.6 110.0 110.1
1085
1069
1084
1083
113.5
112.1
11? f> 110.4
1120
1189
1183
1193
1088
1115
1093
1095
1099
120.3
110.1 110.7 1104
121.2 122.3 123.6
Receipts of factor income2
113.9
118.7
118.4
119.4
120.1
121.2
122.0
122.7
Imports of goods and services
112.6
113.7
113.0
112.8
113.7
112.9
114.2
115.8
111 5
109.9
114.2
117.5
111 2 1107
111.4 111.3
109.6
1108
125.0 123.6
111.2 110.0
110.9 111.6 111.7
108.7 110.3 106.8
125.1 125.3 126.0
111.3
112.2
109.6
127.5
113.0
113.5
112.0
128.6
114.1
119.6
122.3 123.1
123.5
Merchandisel
Durable
Nondurable
Services l
Payments of factor income3
119.2
1101
120.3
121.1
Addenda:
Price indexes for exports of goods
and services:
Chain-type annual weights
Benchmark-years weights
Price indexes for imports of goods
and services:.
Chain-type annual weights
Benchmark-years weights
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services.
2. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
3. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.
NOTE.— Percent changes from preceding period for selected items in this table are shown in table 8.1.
l8 • December 1992
SURVEY OF CURRENT BUSINESS
Table 7.10.—Price Indexes for Exports and Imports of Merchandise
by End-Use Category, Fixed 1987 Weights
Table 7.11.—Price Indexes for Government Purchases by Type,
Fixed 1987 Weights
[Index numbers, 1987=100]
[Index numbers, 1987=100]
Seasonally adjusted
1990
Exports of merchandise
Foods, feeds, and beverages .
Industrial supplies and materials
Durable goods
Nondurable goods
Capital goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable aoods ....
Imports of merchandise
Foods feeds and beverages
industrial supplies and materials, except
petroleum and products
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Addenda:
Exports of agricultural products l
Exports of nonagricultural products ...
Imports of nonpetroleum products
1. Includes parts of line 2 and line 5.
1991
1991
Seasonally adjusted
1990
1992
II
III
IV
I
II
III
109.3
109.8
109.9
109.2
109.8
109.6
110.0
110.1
115.7
114.1
115.5
113.4
103.8
112.3
114.8
111.4
115.2
109.7
105.4
117.8
115.5
111.7
115.1
110.2
105.3
117.1
113.6
109.5
115.0
107.0
105.5
118.9
117.9
109.0
114.6
106.4
105.9
119.3
117.2
107.2
114.7
103.8
106.0
120.2
116.8
108.6
117.0
104.8
105.7
120.4
112.8
110.4
119.7
106.2
105.6
121.4
78.1
69.4
71.2
67.4
66.1
64.7
62.3
58.4
109.8
107.4
110.7
109.9
111.3
111.2
111.2
111.2
113.7
110.5
113.8
111.7
115.7
112.5
112.5
112.5
113.1
110.2
114.4
112.4
116.1
112.3
112.3
112.3
114.2
110.9
113.7
111.2
115.8
112.1
112.1
112.1
115.1
111.2
114.3
111.4
116.8
112.7
112.7
112.7
115.5
111.8
117.7
117.4
118.1
112.6
112.6
112.6
115.9
112.3
117.9
116.2
119.5
113.0
113.0
113.0
116.7
112.6
118.0
116.0
119.8
113.4
113.1
113.1
111.5
111.2
110.7
110.1
111.2
110.0
111.3
113.0
104.0
108.4
109.1
108.2
108.8
111.7
107.2
106.7
116.8
117.9
115.6
119.6
105.2
112.6
114.9
114.5
115.3
105.2
106.2
117.7
115.8
115.3
116.3
100.5
106.1
117.1
113.4
113.7
113.2
100.2
104.9
118.9
112.8
112.8
112.8
104.9
106.0
119.3
113.6 114.3
114.1 116.2
113.2 112.3
88.7
101.6
105.0 103.8
120.2 120.3
114.8
116.5
116.3
108.2
105.8
121.4
80.3
71.7
73.2
70.9
68.6
66.8
65.1
63.5
111.0
108.8
113.3
112.4
114.5
111.5
111.5
111.5
114.2
112.5
114.0
113.9
114.1
112.8
112.8
112.8
113.7
112.2
113.4
113.3
113.6
112.8
112.8
112.8
112.8
112.8
113.5
113.5
113.5
112.2
112.2
112.2
114.7
113.6
114.5
114.6
114.5
112.7
112.7
112.7
113.9
114.7
115.0
113.7
116.6
112.9
112.9
112.9
112.8
114.9
116.5
116.3
116.7
113.1
113.1
113.1
115.8
115.9
117.9
117.4
118.5
114.5
114.1
114.1
114.3 112.9 114.2
108.6 109.4 109.3
110.5 111.9 111.9
111.6
108.9
111.3
114.4 113.2
109.2 109.1
111.9 112.4
112.9
109.6
112.4
110.5
110.1
113.6
Government purchases
Federal
National defense
Durable goods
Nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Structures
Nondefense
Durable goods
Nondurable goods
Commodity Credit Corporation
inventory change
Other nondurables
Services
Compensation of employees
Other services
Structures
State and local
Durable goods
Nondurable goods
Services
Compensation of employees
Other services
Structures
Addenda:
Price indexes for government
purchases:
Chain-type annual weights
Benchmark-years weignts
Price indexes for Federal national
defense purchases:
Chain-type annual weights
Benchmark-years weights
Price indexes for Federal nondefense
purchases:
Chain-type annual weights
Benchmark-years weights
Price indexes for State and local
purchases:
Chain-type annual weights
Benchmark-years weights
1991
1991
II
III
1992
IV
I
II
III
112.5
116.5
117.7
118.6
119.6
120.3
116.7
116.0
115.9
116.9
112.0
116.9
118.3
120.1
120.9
122.0
112.2
108.9
125.5
112.8
115.3
114.8
116.2
109.3
116.1
116.5
111.6
121.1
118.6
122.1
121.5
123.3
113.6
118.0
115.5
110.7
117.9
117.6
120.8
119.7
123.0
113.1
117.9
116.7
110.8
117.5
119.3
123.1
122.9
123.7
113.8
120.6
118.5
113.0
120.6
121.2
125.1
125.4
124.6
115.5
116.1
120.2
112.9
112.0
124.3
130.7
131.2
129.6
115.2
116.3
121.0
112.9
116.9
125.2
131.9
132.8
130.1
115.4
118.5
122.2
113.7
121.5
126.4
132.9
133.9
130.8
117.0
119.8
111.5
104.5
117.0
106.6
116.9
106.7
117.6
107.1
117.7
105.6
119.7
103.0
120.2
102.9
120.9
103.1
109.1
113.3
115.5
110.2
110.6
108.7
119.4
122.4
115.2
113.3
108.8
118.9
122.2
114.4
113.5
109.3
119.9
122.7
116.0
113.8
108.6
120.8
123.4
117.2
113.3
109.6
123.8
128.4
117.3
112.6
109.4
124.0
128.7
117.5
113.4
108.9
125.6
132.6
115.5
118.9
112.9
108.2
115.6
113.5
116.5
116.4
111.2
115.1
118.1
122.0
116.2
110.8
114.6
117.7
121.4
116.9
111.3
114.9
118.7
122.6
117.2
111.9
114.5
119.4
123.7
117.4
112.4
113.4
120.3
124.9
118.5
113.2
115.9
121.2
126.4
118.9
113.5
116.7
121.5
126.7
81.7
76.5
77.9
76.1
72.1
70.0
65.1
64.3
109.6
110.5
111.2
111.1
109.5
107.4
108.8
109.7
SURVEY OF CURRENT BUSINESS
December 1992 •
Table 7.12.—Price Indexes for National Defense Purchases, Fixed
1987 Weights
Table 7.14.—Implicit Price Deflators for Gross Domestic Product
by Sector
[Index numbers, 1987=100]
[Index numbers, 1987=100]
Seasonally adjusted
Se asonallyf adjusted
1990
1991
III
1990
1992
1991
II
IV
I
II
National defense purchases
Durable aoods
Military eauiDment
Aircraft
Missiles
Ships
Vehicles .
Electronic equipment
112.2 116.5 115.5 116J 118.5 120.2 121.0 122.2
Other durable goods
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Contractual research and
development
Installation support l
Weapons support23
Personnel support
Transportation of material
Travel of persons
Other
Structures
Military facilities
Other
Addenda:
Price indexes for national defense
purchases:
Chain-type annual weights
Benchmark-years weights
105.9 107.0 106.8 107i1 107.6 107.8
113.0 115.4 115.5 115.9 115.4 1152
109.0 108.8
116.2 116.1
1080
1076
1031
125.5
121.1 117.9 117.5 120.6 112.0 116.9 121.5
1456
1321
108.9 111.6 110.7 110.8 113.0 112.9 112.9 113.7
1089
111.5
99.5
1102
1107
112.0
114.0
101.6
100.3
1172
1152
1177
1138
111 0 111 2 1136
1124
1080
1125
99.9
1176
1154
1073
1171
1000
1186
1188
1067
1135
1168
99.9
1184
1191
1071
131 7 1088
1139
1162
1148
1177
101.0
101.3
1187
1190
1194
1207
1027
1201
1125
1239
1081
1082
120.6
119.5
120.3
119.4
119.9
118.9
112.8 118.6 117.6 1193
1212
1243
1252
126.4
1153
1148
1231
1229
1237
1251
1254
1246
1307
131 9 1329
113.8
115.5
1088
1101
1148
1184
112.3 109.5
116.1 120.1
1221
1215
1208
1197
116.2 123.3
109.3 113.6
123.0
113.1
106.1
110.7
1088
1088
113.6
112.8 1141
1099
1180
96.5
1156
1267
1149
1255
1160
1263
102.5
112.3
101.9
101.8
1127
1135
107.3
1079
1160
1239
1286
1251
131 2 1328
1339
1296
1152
130.8
117.0
1099
1135
1180
131 1 1326
105.6 103.7
111 5 1125
1301
1154
1096
131.0
133.3
1105
1315
1109
138.4
1200
131 9 1364
102.1
1091
101.4
110.8
1080 111 5 1133
131 0 1251 1285
1142
1302
2. Includes depot maintenance and contractual services for weapons systems, other than research and
development.
3. Includes compensation of foreign personnel, consulting, training, and education.
Table 7.13.—Implicit Price Deflators for the Relation of Gross
Domestic Product, Gross National Product, Net National Product,
and National Income
[Index numbers, 1987=100]
113.2 117.8 117.5 118.2 118.9 119.8 120.6 121.2
113.8 118.7 1184
1194
120.1
1212
122.0
122.7
1140
1202
121 1 1223
1231
1240
1195
1191
113.2 117.8 117.4 118.2 118.9 119.8 120,6 121.2
110.4
111.0
113.8 118.8 118.4 119.4 120.1 121.2 122.0
122.6
108.6
117.6
112.8
110.0
110.2
128.4 125.8
117.1 116.8
109.7
130.7
117.5
110.0
130.7
118.0
109.5
131.2
118.8
131.1
119.5
134.1
120.1
113.4 117.8 117.7 118.2 119.0 120.2 121.1 121.5
113.8 118.8 118.4 119.4 120.1 121.2 122.0 122.7
113.4 117.8 117.7 118.2 119.1 120.2 121.1 121.5
1. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
2. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.
Gross domestic product
Business
Nonfarm
Nonfarm less housing
Housing
Farm
Statistical discrepancy
Households and institutions
Private households
Nonprofit institutions
General Government
Federal .
State and local
Addendum:
Gross domestic business product
less housino
III
1992
IV
I
II
113.2 117.8 117.5 118.2 118.9 119.8 120.6
112.8
112.6
112.4
115.2
120.5
112.8
117.1
117.1
116.8
119.8
114.0
117.1
116.8
116.7
116.5
119.1
121.3
116.8
115.2 121.6 120.9
106.0 111.4 110.9
115.7 122.0 121.3
117.5
117.5
117.2
119.9
115.5
117.5
118.0
118.2
117.8
122.0
106.9
118.0
122.7 123.8
111.7 113.2
123.2 124.2
III
121.2
118.8
118.9
118.6
122.2
110.8
118.8
119.5
119.7
119.3
123.0
110.5
119.5
125.0
113.9
125.4
126.5 126.8
114.9 116.4
127.0 127.2
120.1
120.2
119.0
131.7
111.4
120.1
116.1 121.9 121.3 122.6 123.9 126.3 127.6 128.1
115.3 122.2 121.3 123.0 124.6 129.9 130.8 131.7
116.4 121.8 121.3 122.5 123.6 124.7 126.2 126.6
112.5
116.8
Table 7.15.—Current-Dollar Cost and Profit Per Unit of ConstantDollar Gross Domestic Product of Nonfinancial Corporate Business
[Dollars]
111 6 1122
114.9
1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors to
Gross domestic product
Plus: Receipts of factorl income from
the rest of the world
Less: Payments of 2factor income to the
rest of the world
Equals: Gross national product
Less: Consumption of fixed capital
Equals: Net national product
Less: Indirect business tax and nontax
liability plus business transfer
payments less subsidies plus current
surplus of government enterprises ....
Statistical discrepancy
Equals: National income
Addenda:
Net domestic product
Domestic income
II
1133
1186
116.1 118.0 117.9 120.6 116.1 116.3 118.5 119.8
1080
1991
1991
III
Current-dollar cost and profit
per unit of constant-dollar
gross domestic product 1
Consumption of fixed capital
Net domestic product
Indirect business tax and nontax
liability plus business transfer
payments less subsidies
Domestic income
Compensation of employees
Corporate profits with inventory
valuation and capital
consumption adjustments
Profits tax liability
Profits after tax with inventory
valuation and capital
consumption adjustments
Net interest
1.108 1.139 1.140
1.143 1.143 1.146 1.151 1.152
.126
.127
.127
.126
988 1013
1013
1016
1017
.120
.126
.130
1,0?1 10?6
1.022
.125
106
882
115
898
114
899
117
900
117
900
118
903
.759
.760
.763
.761
.903
.760
117
908
.737
.759
.757
.091
.085
.086
.084
.086
.093
.100
.100
034
030
030
031
030
033
037
035
.057
.054
.055
.053
.056
.053
.053
.053
.053
.052
.060
.050
.064
.049
.065
.047
118
1. Equals the deflator for gross domestic product of nonfinancia! corporate business with the decimal point
shifted two places to the left.
SURVEY OF CURRENT BUSINESS
2O • December 1992
Table 8.1.—Percent Change From Preceding Period in Selected Series
[Percent]
Seasonally adjusted at annual rates
1991
1991
1990
II
Gross domestic product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Personal consumption expenditures:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weiohts
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Durable goods:
Current dollars
Quantity indexes:
Rxed 1987 weights
,
Chain-type annual weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Nondurable goods:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Services:
Current dollars
Quantity indexes:
Rxed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Rxed 1987 weights
Chain-type annual weights
Benchmark-years weights
Gross private domestic investment:
Current dollars
Quantity indexes:
Rxed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Rxed 1987 weights
Chain-type annual weights
Benchmark-years weights
Fixed investment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Nonresidential:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights .
Benchmark-vears weiahts
5.2
.8
2.8
-1.2
IV
III
5.2
Seasonally adjusted at annual rates
1990
1992
4.0
I
2.8
III
II
6.2
4.3
5.3
1.7
1.2
.6
2.9
1.5
3.4
3.5
3.0
2.4
3.6
2.9
2.1
4.5
4.0
6.4
3.7
5.4
4.4
3.0
8.4
3.5
5.2
1.2
6
2.0
1.5
3
5.1
-.1
3.7
5.3
4.4
3.3
3.0
1.1
-3.9
1.7
-.3
-5.6
-.7
8.1
10.9
1.7
2.4
2.9
3.6
6.5
2.2
3.0
.4
1.3
-.6
1.7
.7
.5
6.1
-1.3
3.6
3.1
3.5
-2.3
18.0
-3.1
16.5
3.5
1.0
-2.1
2.6
10.5
9.4
1.8
3.6
1.8
-1.2
7.5
1.1
4.9
-3.5
5.5
1.1
2.4
1.8
-1.5
2.8
2.5
2.5
Structures:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Producers' durable
equipment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Residential:
Current dollars
Quantity indexes:
Rxed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights ....
1992
1991
1991
II
HI
IV
I
II
4.0
-10.4
-9.7
-19.2
-12.8
.9
.8
-12.0
-10.6
-20.8
-11.5
2.7
3.1
.5
-1.0
2.1
1.7
III
.5
-9.5
-.8 -11.3
1.4
2.1
1.1
2.2
-1.6
-.9
2.5
-4.2
2.1
23.0
3.7
^.6
.7
6.0
-2.4
3.2
24.1
9.5
2.0
-.1
.6
-4.1
-6.6
-11.7
8.1
18.3
-9.1
-12.6
7.0
14.4
2.7
.9
.7
1.6
8.5
11.3
-1.3
1.6
1.1
1.1
19.4
15.5
4.2
20.1
12.6
.2
3.3
-2.1
-.7
2.5
3.8
Exports of goods and services:
Purront Hnllarc
9.6
7.4
15.6
5.5
14.4
3.4
FivoH 1QR7 u/einhte
8.1
5.8
16.6
6.2
13.3
2.9
14
9.2
Price indexes:
Fixed 1987 weights
1.7
2.1
-.3
.5
2.1
1.7
6.5
-.9
5.1
3.0
-.1
15.6
3.7
1.0
-7.9
7.0
4.5
1.2
2.8
1.2
.£.
4.2
3.5
1.8
6.2
4.9
-1.7
9.0
Quantity indexes:
-.6
2.4
Rpnrhmark-uparQ u/Pinhte
7.6
6.3
7.5
5.6
6.5
7.0
5.3
4.3
1.9
1.1
3.0
1.2
2.3
2.2
1.2
3.1
5.6
5.3
4.3
4.2
4.0
4.9
3.8
2.9
-3.9
-9.8
2.7
13.3
1.8
-7.2
31.2
4.4
-5.7
-10.6
2.2
14.6
2.9
-4.6
29.5
6.5
Imports of goods and services:
Quantity indexes:
Fixed 1987 weights ..
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Government purchases:
Current dollars
Quantity indexes:
Fixed 1987 weights
13.7
6.1
17.1
4.2
-.6
9
-2.3
Benchmark-years weiohts
Price indexes:
FivpH 1QR7 u/pinhtc
—.7
-2.8
2.5
-7.8
-8.5
1.6
10
-3.1
-.8
1.0
A
1.8
-1.2
-.3
6.4
7.4
.1
15.4
15.2
.8
2.3
1.5
1.7
-6.3
-4.0
-5.3
-7.0
1.8
15.4
-.5
-A
-7.0
-3.1
-3.4
-5.2
3.0
16.1
3.1
2.4
1.9
,<i
1.2
,4
E
1.2
1.4
Chain-tvoe annual weiohts
Benchmark-vears weiohts
Federal:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weiohts
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weiphts
National defense:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ...
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
2.9
24
-1.2
r
2.0
1.2
4.5
4.1
1.1
4.7
3.1
7.6
.7
— .6
4.5
3.9
-5.6
./
-6.5
3.5
3.1
-1.7
3.5
-2.9
-1.1
4.8
-3.0
1.7
2.7
-5.6
-9.0
5.0
3.0
17.6
14.7
6.0
5.6
2.2
5.6
-1.2
3.5
-2.7
2.8
-8.7
-1.4
-2.4
-9.4
-13.0
-7.7
-5.2
6.5
5.6
3,8
2.4
9.7
-4.8
3.9
14.8
4.8
3.9
-3.0
7.8
3.2
7,.5
3.6
10.5
8.3
4.1
SURVEY OF CURRENT BUSINESS
December 1992 •
21
Table 8.1 .—Percent Change From Preceding Period in Selected
Series—Continued
Table 8.2.—Selected Per Capita Product and Income Series in
Current and Constant Dollars and Population of the United States
[Percent]
[Dollars]
Seasonally adjusted at annual rates
1990
1991
II
Nondefense:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights ... .
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
State and local:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Addenda:
Final sales of domestic product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights ..
Gross domestic purchases:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Final sales to domestic purchasers:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
10.5
5.8
4.5
10.0
5.2
4.8
18.7
4.3
2.6
16.6
1.5
2.3
3.2
2.3
II
I
IV
III
Seasonally adjusted at annual rates
1992
1991
.3
17.9
9.7
7.3
1990
5.3
8.0
3.3
5.5
1.5
2.2
4.3
2.9
3.3
2.2
5.3
3.9
2.9
3.4
1.2
.6
.9
1.4
5.1
-.2
1.4
3.1
2.3
2.5
.9
.8
4.0
1.4
5.7
3.1
4.7
2.4
2.2
8.0
2.6
4.8
1.3
-.8
1.3
-.5
0
4.7
-.1
2.8
4.5
4.0
3.6
2.9
2.4
3.6
3.1
2.1
4.9
1.9
4.2
4.8
2.0
5.6
6.4
5.2
1.7
2.4
-.4
3.0
3.4
4.1
.4
-1.8
4.6
3.8
2.5
2.9
2.5
3.1
3.2
2.5
5.4
2.2
3.7
3.2
1.4
7.4
4.7
4.7
1.3
.7
-.9
4.7
1.7
3.5
3.8
2.6
2.8
2.5
3.1
3.2
2.5
2.7
4.3
3.7
2.7
6.8
3.4
5.7
.8
1.0
.4
3.6
.7
3.9
3.5
3.0
2.4
3.6
2.9
2.1
1.7
1.3
.3
4.3
.3
4.7
5.3
1.9
3.7
.7
5.5
2.2
7.3
4.0
4.8
1.2
2.0
.5
.8
4.6
-1.4
Benchmark-years weights .. ..
Gross national product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weignts
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Command-basis gross national
product:
Quantity index, fixed 1987 weights ...
Disposable personal income:
Current dollars
1987 dollars
5.2
.9
4.5
.7
6.8
1.5
-1.2
4.0
-1.0
4.1
-.2
NOTE.—Except for disposable personal income, the quantity and price indexes in this table are calculated from
weighted averages of the detailed output and prices used to prepare each aggregate and component. The fixed
weighted measures use as weights the composition of output in 1987. For the alternative indexes, the chain-type
indexes with annual weights use weights for the preceding and current years, and the indexes with benchmarkyears weights use weights of 1959, 1963, 1967, 1972, 1977, 1982, and 1987 and the most recent year.
Current dollars:
Gross domestic
product
Gross national
product
Personal income .
Disposable
personal
income
Personal
consumption
expenditures ...
Durable goods
Nondurable
goods
Services
Constant (1987)
dollars:
Gross domestic
product
Gross national
product
Disposable
personal
income
Personal
consumption
expenditures ...
Durable goods
Nondurable
goods
Services
Population (midperiod,
thousands)
1992
1991
II
III
7.5
3.9
1991
III
IV
I
II
111
22,092
22,466
22,422
22,577
22,671
22,958
23,141
23,373
22,175
18,660
22,535
19,106
22,488
19,050
22,629
19,151
22,713
19,337
23,035
19,578
23,169
19,717
23,426
19,790
16,174
16,658
16,604
16,706
16,885
17,143
17,297
17,332
14,996
1,857
15,384
1,765
15,345
1,749
15,468
1,790
15,537
1,775
15,814
1,845
15,907
1,845
16,063
1,887
4,899
8,240
4,952
8,666
4,971
8,625
4,961
8,717
4,931
8,831
5,008
8,960
5,009
9,053
5,054
9,122
19,513
19,077
19,090
19,094
19,066
19,159
19,182
19,288
19,587
19,138
19,149
19,141
19,104
19,225
19,208
19,335
14,068
13,886
13,891
13,876
13,913
14,017
14,021
13,998
13,044
1,757
12,824
1,641
12,838
1,630
12,848
1,658
12,803
1,639
12,930
1,700
12,893
1,686
12,973
1,719
4,227
7,059
4,125
7,058
4,147
7,061
4,129
7,062
4,081
7,082
4,126
7,104
4,099
7,108
4,113
7,141
249,961 252,711 252,329 253,053 253,776 254,388 255,054 255,786
22 • December 1992
SURVEY OF CURRENT BUSINESS
Table 8.3.—Auto Output
Table 8.4.—Auto Output in Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1990
Auto output
Final sales . .
Personal consumption expenditures .
New autos
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
Net exports
Exports
Imports
Government purchases
Change in business inventories of
new and used autos
New
. . . .
Used
Addenda:
Domestic output of new autos l
Sales of imported new autos2
1991
1991
1992
1990
II
III
IV
I
II
III
129.7
119.7
118.8
125.0
122.3
125.1
135.0
135.0
132.9
130.4
119.7
115.3
119.8
112.0
120.9
117.7
120.8
117.5
129.9
124.4
130.3
122.0
129.3
121.4
96.7
33.7
35.5
55.1
79.5
35.8
36.6
59.8
78.5
33.5
36.8
60.2
78.7
39.0
38.8
65.0
82.7
34.8
35.7
58.1
87.6
36.7
36.0
57.6
83.1
38.9
38.7
65.2
82.3
39.1
36.2
61.8
-19.6
-35.4
-23.3
-33.9
-23.3
-30.6
-26.3
-37.1
-22.4
-33.8
-21.6
-32.0
-26.5
-32.0
-25.6
-29.9
10.5
45.9
11.7
45.6
10.9
41.6
13.3
50.4
11.7
45.5
12.4
44.4
13.4
45.4
16.5
46.4
2.4
-3.2
-2.3
-.9
99.5
61.3
1.7
1.7
0
-.3
.4
94.7
56.2
-1.0
-3.1
2.1
90.4
58.4
1.6
1.3
4.1
3.9
.2
1.5
.7
.8
99.4
60.7
98.0
54.5
1.5
-4.8
-3.1
-1.7
98.5
56.8
1.7
1.6
4.7
2.9
1.8
5.8
4.7
1.0
104.8
105.5
61.1
57.9
1991
1991
Auto output
.. .. 121.7 109.3
125.8 109.2
Final sales
Personal consumption expenditures .. 125.0 107.6
91.6
New autos
72.6
33.4
Net purchases of used autos
35.0
33.3
32.4
Producers' durable equipment
52.1
54.7
New autos
-18.9 -22.3
Net purchases of used autos
-34.6 -32.2
Net exports
Exports
9.9 10.6
44.5
Imports
42.8
2.2
Government purchases
1.5
Change in business inventories of
-4.1
new and used autos
.1
New
-3.3
-.5
Used
-.8
.6
Addenda:
Domestic output of new autos 1
93.3
86.4
58.1
51.4
Sales of imported new autos2
1992
II
III
IV
I
II
III
110.7
112.2
109.4
111.2
121.4
118.6
109.1
104.7
108.8
108.9
109.1
108.3
117.7
115.0
115.6
110.8
112.7
108.4
71.8
32.9
32.5
55.0
71.6
37.3
34.2
59.1
75.0
33.3
31.4
52.7
79.2
35.8
31.2
52.0
74.3
36.6
33.5
58.3
73.0
35.4
31.7
54.8
-22.5 -25.0
-29.6 -35.6
9.9 12.0
-21.3
-31.7
-20.8
-29.7
-24.8
-30.2
-23.1
-28.8
10.6
42.3
11.2
40.8
11.9
42.1
14.6
43.4
39.5
47.6
1.4
1.3
1.2
1.3
1.4
1.3
1.6
-.7
2.2
3.4
2.9
.5
.3
-.7
1.1
-6.6
-4.9
-1.7
5.8
4.1
1.7
6.0
5.1
.9
84.2
53.4
89.9
55.2
88.0
49.4
87.1
51.3
94.8
54.6
94.4
51.4
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
Table 8.5.—Truck Output
Table 8.6.—Truck Output In Constant Dollars
[Billions of dollars]
[Billions of 1987 dollars]
Truck output l
Rnal sales
Personal consumption expenditures ..
Producers' durable equipment
Net exports
Exports
Imports
Government purchases
Change in business inventories
1. Includes new trucks only.
72.4
73.5
67.9
69.1
71.6
72.9
78.0
81.7
81.2
39.4
33.1
69.4
36.2
30.9
69.9
34.8
29.6
70.3
38.1
30.9
71.1
38.6
33.8
71.1
37.9
34.0
84.4
43.2
37.1
82.3
44.6
37.6
-54
4.2
9.6
6.3
-38
5.4
9.2
60
-21 -42
54
6.2
9.6
8.3
55
75
-54
5.3
-65
46
-43
6.2
-50
5.3
10.7
11.1
10.5
10.3
41
56
-1.0
-1.5
1.3
1.8
6.9
-.7
84
-2.7
50
-1.1
Truck output *
Rnal sales
Personal consumption expenditures ..
Producers' durable equipment
Net exports
Exports
Imports
Government purchases
Change in business inventories
1. Includes new trucks only.
67.0
680
60.4
62.0
63.4
64.1
68.1
70.2
69.2
626
36.4
30.6
61.7
32.0
27.7
62.3
33.5
27.6
62.5
33.8
29.8
62.0
33.0
29.7
72.4
37.0
31.9
70.1
38.0
32.1
-50
3.9
8.9
58
-33
48
82
54
1 9 -37
49
58
8.5
75
49
68
-48
47
9.4
36
-57
4.0
9.7
4.9
-37
53
9.0
72
-42
4.6
8.8
4.3
-1.0
-1.3
-.6
1.2
1.7
6.1
30.9
26.8
-2.3
-.9
SURVEY OF CURRENT BUSINESS
December 1992
NIPA Charts
Jan. July July
F T P
Nov
T
Billion 1987 $; seasonally adjusted annual rates
V Personal const mption expenditures- -
Gross private domestic investment
Change in business inventories
Net exports of gbods and services-
Government purchases-
1964 65
66 67
72
73
74 75
76 77
78 79
80
82 83
84 85
86 87
88 89 90
91 1992
SURVEY OF CURRENT BUSINESS
24 • December 1992
Percent Change
Percent Change
10 GROSS DOMESTIC PURCHASES PRICE INDEX
REAL GROSS DOMESTIC PRODUCT1
(FIXED WEIGHTS)1
-10
1989
1990
1991
1992
Percent Change
10 REAL GROSS DOMESTIC PURCHASES
1990
1991
1992
Billion $
SCO
1
•--.••
1989
, ll
111
CORPORATE PROFITS WITH IVAAND CCAdj2
400
300
200
•10
100
1989
1990
1991
1992
1989
1990
1991
1992
1990
1991
1992
Percent Change
10 REAL DISPOSABLE PERSONAL INCOME
1
I .11.
i
1.1 I
• r
-10
1989
1990
1991
1992
1 , Percent change at annual rate from preceding quarter; based on seasonally adjusted estimates.
£ Seasonal adjusted ann«at rate w* inventory valuation adjustnwrt, and CpAtjj ts capital consumpffen a^ustment
3. Petscmaf saving as potming* of disposal pe^^afi)^omeT35asedQfi
U.S. Department of Commerce, Bureau of Economic Analysis
SURVEY OF CURRENT BUSINESS
December 1992
Reconciliation and Other Special Tables
Table 1.—Relation of Net Exports of Goods and Services and Net Receipts of Factor Income in the National
Income and Product Accounts (NIPA's) to Balance on Goods, Services, and Income in the Balance
of Payments Accounts (BPA's)
[Billions of dollars]
Seasonally adjusted at annual rates
Line
Exports of goods, services, and income, BPA's
Less: Gold BPA's
Statistical differences1
Other items
.
. . .
. . .
1992
1991
1991
II
III
IV
I
II
III
1
704.9
699.6
703.3
719.6
724.7
720.1
732.5
2
3
4
3.6
0
0.5
3.2
0
0.1
3.4
0
0.5
3.6
0
0.7
3.8
3.5
3.7
1.4
0
-0.6
0.1
-0.3
0
Plus: Adjustment for grossing of parent/affiliate interest payments .
Adjustment for U S territories and Puerto Rico
Services furnished without payment by financial intermediaries except life insurance
carriers and private noninsured pension plans
5
6
7
9.2
9.2
9.3
9.5
9.8
10.1
10.4
Equals: Exports of goods and services and receipts of factor income, NIPA's
8
741.7
737.5
740.1
756.0
761.0
756.7
767.9
9
716.6
706.4
723.6
731.4
720.3
760.1
761.9
10
11
12
2.9
0
0
3.0
0
0
2.3
0
0
3.1
0
0
2.3
1.7
0
3.6
1.1
0
2.8
1.4
0
Imports of goods, services, and income, BPA's
Less: Gold, BPA's
Statistical differences1
Other items
Plus: Gold, NIPA's
Adjustment for grossing of parent/affiliate interest payments
Adjustment for U.S territories and Puerto Rico
Imputed interest paid to rest of world
.
.
.
5.5
26.1
5.7
26.2
5.4
25.9
5.4
25.7
4.4
25.5
13
14
15
16
-2.4
9.2
9.2
9.3
9.5
9.8
Equals: Imports of goods and services and payments of factor income, NIPA's
17
746.0
736.0
754.0
761.2
Balance on goods, services, and income, BPA's (1-9)
18
-11.7
-6.8
-20.3
-11.8
Less Gold (2-10+13)
Statistical differences (3-11) l
Other items (4-12)
19
20
21
-1.7
-2.0
-1.1
-1.7
Plus: Adjustment for U.S. territories and Puerto Rico (6-15)
22
Equals: Net exports of goods and services and net receipts of factor income, NIPA's
(8-17)
23
....
1
1. Consists of statistical revisions in the NIPA's that have not yet been incorporated in the
BPA's (1992:111) and statistical revisions in the BPA's that have not yet been incorporated in the
NIPA's (1992:1-1992:11).
5.5
20.0
-2.2
5.7
19.9
-2.2
5.4
20.1
-2.2
5.4
20.2
0
0.5
0
0.1
0
0.5
0
0.7
6.1
6.3
5.8
5.5
-4.3
1.5
-13.9
-5.2
-1.2
4.4
4.3
25.3
-3.3
4.3
4.3
25.8
-2.8
4.3
20.2
10.1
20.7
10.4
749.6
786.8
790.3
4.4
-40.0
-29.4
0.3
-3.4
20.2
0.1
14
0
19
0
0
5.3
5.1
5.1
-2.3
11.4
-30.1
-22.4
26 • December 1992
SURVEY OF CURRENT BUSINESS
Summary National Income and Product Series, 1929-91
TABLES 1-4 PRESENT summary series from the national income
and product accounts (NIPA'S): Tables i and 2 cover currentand constant-dollar gross domestic product (GDP) and its components, table 3 covers NIPA price indexes, and table 4 covers
national income and personal income. Revised estimates for
1929-58 are being published for the first time on a basis comparable with the estimates for 1959 forward that were released in
the December 1991 comprehensive NIPA revision.
Except for the fixed-weighted price indexes (FWPI'S) and the
GDP implicit price deflator, the annual estimates in these tables begin with 1929, the quarterly current-dollar estimates begin
with 1946, and the quarterly constant-dollar estimates begin with
1947. Annual and quarterly estimates beginning with 1959 are
shown for the FWPI'S for personal consumption expenditures
(PCE) by major type, for residential fixed investment, and for
government purchases by type, as well as for the GDP implicit
price deflator. (A forthcoming volume, National Income and
Product Accounts of the United States: Volume i, 1929-58, will include the FWPI for PCE by major type and the GDP implicit price
deflator back to 1929 for annual estimates and to 1947 for quarterly estimates. Volume 2, covering 1959-88, is already available;
for order information, see inside back cover.)
The FWPI'S for several NIPA aggregates—GDP, total fixed investment, nonresidential fixed investment, exports, imports, and
gross domestic purchases—are not published for periods before
1982. For these periods, the combination of the high level and
very rapid decline in the price index for computers and the large
1987 quantity weights for computers results in misleading measures of price change for components and aggregates that include
computer purchases.
These tables do not include the two alternative quantity and
price indexes that BEA introduced in the 1991 comprehensive
NIPA revision. These alternatives use the Fisher Ideal index formula to provide a measure of change between two periods. In
one alternative, the weights change each year; in the other, the
weights change each benchmark year—that is, at about 5-year
intervals. (Estimates for these alternatives for 1959-88 have been
published in National Income and Product Accounts of the United
States: Volume 2,1959-88.)
Tables i through 4 follow. E3
Data Availability
The full set of NIPA estimates for 1929 to the present—except
for the pre-1959 estimates of the alternative quantity and price
indexes—is now available on diskette and magnetic tape. For
order information, write to the National Income and Wealth Division (BE-54), Bureau of Economic Analysis, Washington, DC
20230, or call (202) 523-0669.
SURVEY OF CURRENT BUSINESS
December 1992 • 2J
Table 1.—Gross Domestic Product
[Billions of dollars; quarterly data are seasonally adjusted at annual rates]
Personal consumption expenditures
Year and
quarter
GDP
Total
Durable Nondurable
goods goods
Services
Net exports
Gross private domestic investment
Total
Non-
residential
Residential
CBI
1929
103.1
77.5
9.2
37.7
30.5
16.7
1930
1931
1932
1933
1934
90.4
75.8
58.0
55.6
65.1
70.2
60.7
48.7
45.9
51.4
7.2
5.5
3.6
3.5
4.2
34.0
29.0
22.7
22.3
26.7
29.0
26.2
22.3
20.2
20.5
10.6
1935
1936
1937
1938
1939
72.3
82.7
90.8
84.9
90.8
55.9
62.2
66.8
64.2
67.2
5.1
6.3
6.9
5.7
6.7
29.3
32.9
35.2
34.0
35.1
21.5
23.0
24.7
24.6
25.4
1940
1941
1942
1943
1944
100.0
125.0
158.5
192.4
211.0
71.2
81.0
88.9
99.7
37.0
42.9
50.8
58.6
64.3
26.4
28.5
31.3
34.6
37.4
13.6
18.2
10.5
108.5
7.8
9.7
6.9
6.5
6.7
1945
1946
1947
1948
1949
213.1
211.9
234.3
260.3
259.3
119.9
144.3
162.3
175.4
178.9
8.0
15.8
20.4
22.9
25.0
71.9
82.7
90.9
96.6
94.9
40.0
45.8
51.0
56.0
59.0
10.9
31.3
35.0
48.1
36.7
10.6
17.3
23.5
26.8
24.9
12.1
15.6
14.6
1950
1951
1952
1953
1954
287.0
331.6
349.7
370.0
370.9
192.7
208.7
219.7
233.5
240.7
30.8
29.9
29.3
32.7
32.1
98.2
109.2
114.7
117.8
119.7
63.7
69.7
75.7
83.0
89.0
54.2
60.3
54.0
56.3
53.8
27.8
31.8
31.9
35.1
34.7
20.5
18.4
18.6
19.4
21.1
1955
1956
1957
1958
1959
404.3
426.2
448.6
454.7
494.2
259.1
271.9
286.7
296.3
318.1
38.9
38.2
39.7
37.2
42.8
124.7
130.8
137.1
141.7
148.5
95.5
103.0
109.9
117.4
126.8
69.0
72.2
70.6
64.5
78.8
39.0
44.5
47.5
42.5
46.5
25.0
23.6
22.2
22.3
28.1
4.9
4.1
.9
-.4
4.2
1960
1961
1962
1963
1964
513.4
531.8
571.6
603.1
648.0
332.4
343.5
364.4
384.2
412.5
43.5
41.9
47.0
51.8
56.8
153.1
157.4
163.8
169.4
179.7
135.9
144.1
153.6
163.1
175.9
78.7
77.9
87.9
93.4
101.7
49.2
48.6
52.8
55.6
62.4
26.3
26.4
29.0
32.1
34.3
3.2
2.9
6.1
5.7
5.0
1965
1966
1967
1968
1969
702.7
769.8
814.3
889.3
959.5
444.6
481.6
509.3
559.1
603.7
63.5
68.5
70.6
81.0
86.2
191.9
208.5
216.9
235.0
252.2
189.2
204.6
221.7
243.1
265.3
118.0
130.4
128.0
139.9
155.2
74.1
84.4
85.2
92.1
9.7
102.9
34.2
32.3
32.4
38.7
42.6
1970
1971
1972
1973
1974
1,010.7
1,097.2
1,207.0
1,349.6
1,458.6
646.5
700.3
767.8
848.1
927.7
85.3
97.2
110.7
, 124.1
123.0
270.4
283.3
305.2
339.6
380.8
290.8
319.8
351.9
384.5
423.9
150.3
175.5
205.6
243.1
245.8
106.7
111.7
126.1
150.0
165.6
41.4
55.8
69.7
75.3
66.0
1975
1976
1977
1978
1979
1,585.9
1,768.4
1,974.1
2,232.7
2,488.6
1,024.9
1,143.1
1,271.5
1,421.2
1,583.7
134.3
160.0
182.6
202.3
214.2
416.0
451.8
490.4
541.5
613.3
474.5
531.2
598.4
677.4
756.2
226.0
286.4
358.3
434.0
480.2
169.0
187.2
223.2
274.5
326.4
62.7
82.5
110.3
131.6
141.0
1980
1981
1982
1983
1984
2,708.0*
3,030.6
3,149.6
3,405.0
3,777.2
1,748.1
1,926.2
2,059.2
2,257.5
2,460.3
212.5
228.5
236.5
275.0
317.9
682.9
744.2
772.3
817.8
873.0
852.7
953.5
1,050.4
1,164.7
1,269.4
467.6
558.0
503.4
546.7
718.9
353.8
410.0
413.7
400.2
468.9
123.3
122.5
105.7
152.0
178.9
1985
1986
1987
1988
1989
4,038.7 2,667.4
4,268.6 2,850.6
4,539.9 3,052.2
4,900.4 3,296.1
5,250.8 3,523.1
352.9
389.6
403.7
437.1
459.4
919.4
952.2
1,011.1
1,073.8
1,149.5
1,395.1
1,508.8
1,637.4
1,785.2
1,914.2
714.5
717.6
749.3
793.6
832.3
504.0
492.4
497.8
545.4
568.1
185.9
216.6
225.2
232.0
230.9
1990
1991
5,522.2
5,677.5
464.3
446.1
1,224.5 2,059.7
1,251.5 2,190.1
799.5
721.1
577.6
541.1
3,748.4
3,887.7
5.9
1.1
1.7
3.7
6.7
8.7
12.2
7.1
9.3
6.1
7.8
Total
Federal
State
and
local
Percent change from preceding
period
GDP
Final
Gross
sales of domesdomes- tic purtic
product chases
GNP
4.0
1.7
.4
5.9
5.6
8.6
1.5
7.1
101.4
102.7
103.9
2.4
1.8
.8
.6
.9
-.4
4.4
2.9
2.0
2.0
2.6
4.1
2.9
1.9
1.9
2.2
9.2
9.2
8.1
7.9
9.7
1.6
1.7
1.6
2.1
3.0
7.6
7.5
6.4
5.9
6.6
90.7
76.9
60.4
57.1
65.7
90.0
75.7
57.9
55.5
64.8
91.1
76.3
58.3
55.9
65.4
-12.4
-16.2
-23.5
-10.5
-15.2
-21.4
-12.4
-15.9
-23.5
-12.3
-16.3
-23.5
-.6
.3
0
0
.1
.3
-4.1
17.1
-5.6
15.1
-4.1
16.7
-4.2
17.0
4.3
5.8
7.5
5.5
6.1
1.3
1.7
2.1
2.1
3.0
1.1
1.2
2.7
-.6
.2
-.2
-.2
0
.9
.8
2.8
3.0
4.0
3.8
3.9
3.0
3.2
4.0
2.8
3.1
10.0
12.1
11.7
12.7
13.5
3.0
5.2
4.7
5.2
5.5
6.9
6.9
7.1
7.4
8.1
71.2
81.5
88.1
85.5
90.6
72.5
82.9
90.8
83.9
90.0
72.7
83.0
91.2
85.3
91.3
11.1
14.4
12.0
14.3
1.1.1
14.5
7.7
9.7
6.3
5.4
7.4
3.5
4.1
2.2
1.4
1.4
2.4
4.4
1.9
-.8
-.9
1.4
1.0
-.3
4.8
5.4
4.3
3.9
4.8
3.4
4.4
4.6
6.3
6.9
13.8
24.8
59.5
88.9
96.9
6.0
97.7
98.7
17.1
52.0
81.7
89.5
7.8
7.7
7.6
7.3
7.4
120.6
156.6
193.2
211.9
124.1
158.9
194.7
213.2
100.4
125.5
159.0
192.8
211.5
6.7
7.5
7.0
7.9
83.3
29.2
26.2
31.4
38.5
75.4
19.6
13.8
16.5
21.0
12.4
14.8
17.5
214.6
205.7
234.8
254.7
262.1
214.0
204.8
223.5
254.9
254.1
213.5
212.6
235.5
261.8
260.7
1.7
7.8
-1.1
-2.5
-1.5
-1.4
6.2
-.5
5.6
-2.4
-2.2
-.9
7.1
7.9
9.6
5.4
5.2
14.1
18.7
15.5
14.4
.7
2.4
1.0
-.8
.3
12.3
17.0
16.3
15.2
15.7
11.6
14.6
15.3
16.0
15.4
39.5
60.2
74.9
81.0
76.0
20.2
39.0
52.4
56.8
49.0
19.3
21.3
22.6
24!2
27.0
281.1
321.6
346.2
368.2
372,8
286.4
329:2
348.6
370.8
370.6
288.5
333.6
351.8
372.0
373.1
.4
2.3
4.0
.4
17.6
21.2
23.9
20.4
20.6
17.2
18.9
19.9
20.0
22.3
75.8
79.8
87.4
93.5
99.0
46.2
47.5
51.6
54.0
57.1
29.6
32.3
35.8
39.5
41.8
399.3
422.1
447.7
455.1
490.0
403.9
424.0
444.6
454.3
495.8
2.4
3.4
2.4
3.3
5.5
25.3
26.0
27.4
29.4
33.6
22.8
22.7
25.0
26.1
28.1
99.8
107.0
116.8
122.3
128.3
55.3
58.6
65.4
66.4
67.5
44.5
48.4
51.4
55.8
60.9
510.1
528.9
565.5
597.5
643.0
3.9
1.9
1.4
35.4
38.9
41.4
45.3
49.3
31.5
37.1
39.9
46.6
50.5
136.3
155.9
175.6
19t.5
201.8
69.5
81.3
92.8
99.2
66.8
74.6
82.7
92.3
100.5
57.0
59.3
66.2
91.8
55.8
62.3
74.2
91.2
-3.1
124.3
127.5
212.7
224.3
241.5
257.7
288.3
100.1
100.0
106.9
108.5
117.6
13.6
-2.3
-23.7
-26.1
-23.8
136.3
148.9
158.8
186.1
228.9
122.7
151.1
182.4
212.3
252.7
321.4
341.3
368.0
403.6
448.5
-14.7
-14.7
-20.6
-51.4
-102.7
279.2
303.0
282.6
276.7
302.4
293.9
317.7
303.2
328.1
405.1
-115.6
-132.5
-143.1
-108.0
-79.7
302.1
319.2
364.0
444.2
508.0
215.6 ;
6.3
-10.2
190.3
-68.9
-21.8
557.0
598.2
5.7
8.6
5.9
4.5
6.5
7.3
8.4
6.3
199.7
207.7
217.9
222.2
134.9
140.1
148.9
153.2
12.6
14.7
17.1
18.7
78.9
80.6
85.1
86.3
43.5
44.9
46.7
48.2
25.1
32.2
33.3
34.6
13.6
16.1
18.7
20.9
1947: 1
II
Ill
IV
226.7
230.6
234.9
245.0
156.6
160.5
164.1
168.2
19.4
20.0
20.3
22.0
87.7
90.1
92.1
93.6
49.4
50.5
51.7
52.6
33.6
32.4
32.9
41.2
22.8
23.2
23.3
24.5
10.4
10.4
12.3
15.1
1948: 1
II
Ill
IV
251.1
258.3
265.3
266.6
170.9
174.7
177.6
178.5
22.0
22.4
23.7
23.3
95.1
97.0
97.0
97.3
53.9
55.3
56.9
57.9
44.9
48.0
50.4
49.0
26.2
26.0
27.0
28.1
15.2 ;
16.3
16.1
15.0
1949: I
II
III
IV
261.6
258.1
259.9
257.7
177.4
179.0
178.3
180.8
22.8
24.8
25.8
26.8
96.3
95.3
93.5
94.3
58.3
58.9
59.0
59.8
40.9
33.9
37.2
35.0
26.6
25.5
24.1
23.5
14.0
13.7
14.5
16.3
1950: 1
II
Ill
IV
268.3
277.9
295.3
306.7
183.6
187.5
201.2
198.6
27.7
28.1
35.6
31.5
94.8
96.3
100.9
100.9
61.1
63.0
64.7
662
44.4
49.9
56.2
66.3
24.2
26.6
29.6
30.6
18.1
20.4
22.3
21.3
1951:1
321.6
329.1
335.8
340.0
209.7
205.3
207.9
211.9
33.8
28.9
28.3
28.4
107.8
107.4
109.4
112.0
68.0
69.0
70.2 .
71.4
62.1
65.0
59.5
54.6
30.9
31.8
32.5
32.2
20.8
18.2
17.2
17.5
Imports
Final
Gross
Gross
sales of domesdomes- tic pur- national
product
tic
chases
product
8.6
5.3
2.9
2.5
3.3
11.0
1946: 1
II ....
Ill
IV
Ill "!!Z!
IV
Exports
Net
Government purchases
5.9
7.4
8.7
9.3
-2.8
5.9
10.1
3.5
1.8
-1.9
13.8
10.5
9.1
9.7
2.3
8.0
9.9
17.7
14.3
-5.7
16.7
24.7
27.9
12.8
-9.5
25.4
-15.9
-5.5
71.1
24.6
8.6
26.3
16.2
33.3
.4
10.8
-1.7
-1.3
-1.2
1.2
-3.0
-8.0
.6
10.8
11.2
11.7
10.1
9.2
9.8
-6.5
7.0
10.2
25.0
26.8
21.3
8.4
8.1
-3.0
7.3
7.8
9.6
23.5
29.9
23.3
9.7
9.5
1.0
-.6
1.3
.4
10.6
11.1
-.4
10.7
15.5
-4.1
14.1
7.2
12.7
15.0
14.4
9.9
7.0
10.0
25.0
26.7
21.2
9.7
1.0
-.4
10.8
11.2
-.5
10.7
15.6
7.6
6.4
1.3
5.9
6.4
-.1
5.4
5.7
.3
406.8
429.1
451.8
457.5
497.0
9.0
5.4
5.2
1.4
8.7
7.1
5.7
6.1
1.7
7.7
9.0
5.0
4.9
2.2
9.1
9.0
5.5
5.3
1.3
8.6
510.9
528.4
5692
599.8
642.5
516.6
535.4
575.8
607.7
653.0
3.9
3.6
7.5
5.5
7.4
4.1
3.7
6.9
5.7
7.6
3.0
3.4
7.7
5.4
7.1
3.9
3.6
7.5
5.5
7.5
101.3
693.0
756.0
803.8
880.2
949.8
698.8
767.9
812.9
89016
960.7
708.1
774.9
819.8
895.5
965.6
8.4
9.5
5.8
9.2
7.9
7.8
9.1
6.3
9.5
7.9
8.8
9.9
5.9
9.6
7.9
8.4
9.4
5.8
9.2
7.8
112.6
124.3
134.7
149.2
170.7
1,008.4
1,089.2
1,197.1
1,331.9
1,444.4
1,009.5
1,100.2
1,215.0
1,349.0
1,461.8
1,017.1
1,104.9
1,215.7
1,362.3
1,474.3
5.3
8.6
6.2
8.0
9.9
129.4
135.8
147.9
162.2
179.3
192.0
205.5
220.1
241.4
269.2
1,591.5 1,572.3 1,599.1
1,751.7 1 ,770.7 1,785.5
1,949.4 1,997.8 1,994.6
2,204.8 2,258.8 2,254.5
2,475.9 2,512.5 2,520.8
507.1
561.1
607.6
652.3
700.8
209.1
240.8
266.6
292.0
310.9
298.0
320.3
341.1
360.3
389.9
2,717.5 2,722.8
3,005.2 3,045.3
3,165.5 3,170.2
3,410.6 3,456.5
3,706.1 3,879.9
417.6
451.7
507.1
552.2
587.7
772.3
833.0
881.5
918.7
975.2
344.3
367.8
384.9
387.0
401.6
428.1
465.3
496.6
531.7
573.6
4,014.1
4,260.0
4,513.7
4,884.2
5,217.5
4,154.3 4,053.6
4,401.2 4,277.7
4,683.0 4,544.5
5,008.4 4;908.2
5,330.5 5,266.8
6.9
5.7
6.4
7.9
7.2
8.3
6.1
6.0
8.2
6.8
7.1
5.9
6.4
6.9
6.4
6.6
5.5
6.2
8.0
7.3
625.9
620.0
1,043.2
1,090.5
426.4
447.3
616.8
643.2
5,515.9
5,687.7
5,591.1
5,699.3
5,542.9
5,694.9
5.2
2.8
5.7
3.1
4.9
1.9
5.2
2.7
8.7
9.2
9.9
193.2
200.5
209.5
215.9
200.3
208.4
218.6
223.0
iij.9
16.0
19.2
12.8
2,742.1
3,063.8
3;179.8
3,434.4
3,801.5
10.0
11.8
8.1
8.7
11.5
11.6
13.1
11.5
8.8
11.9
3.9
8.1
10.9
11.3
8.4
10.2
10.1
11.3
13.1
12.3
9.8
10.6
5.3
7.7
8.7
13.0
14.2
15.4
13.6
6.6
7.0
7.0
7.3
33.1
28.2
27.3
28.1
24.4
19.1
17.4
17.3
10.8
194.0
199.1
212.1
217.7
7.5
8.2
7.7
8.3
25.8
26.4
26.2
26.3
14.0
14.3
13.6
13.1
11.7
12.1
12.6
13.3
226.4
231.7
237.7
243.4
215.9
219.3
223.2
235.8
227.8
231.7
236.1
246.3
9.6
28.1
30.5
32.3
34.7
14.3
16.1
17.0
18.7
13.7
14.4
15.3
15.9
247.6
252.6
257.9
260.7
243.9
253.2
260.4
262.2
252.6
259.9
266.8
268.1
10.4
12.0
11.1
9.6
9.4
8.9
9.1
36.8
39.0
39.3
39.0
20.4
21.7
21.3
20.7
16.5
17.2
18.0
18.3
261.2
263.4
261.4
262.6
255.2
251.9
254.8
254.8
263.0
259.5
261.2
258.9
-7.3
-5.2
-3.3
1.9
9.5
17.0
21.1
8.1
8.5
6.9
7.7
28.8
11.0
16.9
15.2
15.4
14.6
.4
6.4
6.2
5.1
2.9
16.0
15.6
14.0
12.0
2.1
1.6
-.8
-.2
11.6
11.8
12.2
13.5
10.2
13.0
13.7
38.2
38.9
38.7
42.0
19.6
19.9
19.2
22.0
18.6
19.0
19.5
20.0
266.3
275.0
291.0
292.2
266.1
276.3
296.1
306.9
269:6
279.3
296.9
308.4
17.4
15.1
27.5
16.4
13.8
25.4
.1
1.9
3.7
4.1
15.0
17.0
18.0
18.1
14.9
15.2
14.3
14.0
49.7
57.0
64.7
69.5
29.2
35.8
43.1
47.7
20.4
21.1
21.6
21.9
311.1
314.2
325.9
335.1
321.5
327.3
332.1
336.0
323.2
331.1
337.9
342.3
20.8
28.5
9.9
4.9
-.3
14.2
-6.5
5.4
5.8
.2
7.2
5.2
4.9
4.4
14.5
9.2
14.0
9.2
10.4
15.0
-4.3
8.5
2.9
3.5
5.7
7.3
5.9
2.0
2.9
4.3
25.8
28.0
22.6
9.7
1.6
-5.3
-1.5
-4.9
-7.5
6.0
18.3
19.4
19.4
17.6
-1.2
-2.8
9.5
10.0
10.5
10.1
18.3
2.0
2.8
9.8
8.3
5.2
16.9
9.8
10.6
10.0
5.1
9.0
10.4
11.0
8.4
7.6
12.6
12.8
13.1
11.2
8.4
11.8
4.1
9.0
12.2
.1
6.4
7.2
5.3
8.6
10.0
12.1
8.2
8.5
11.7
11.7
13.0
11.8
8.8
11.7
3.8
8.0
10.7
17.2
21.1
8.3
8.8
7.0
7.8
24.5
18.4
7.1
8.4
8.7
4.3
14.5
16.2
11.8
10.6
12.1
11.1
.8
3.4
-10.3
-3.0
5.7
1.6
4.0
15.8
11.8
2.8
-5.0
4.7
0
2.0
-7.4
-5.3
2.7
-3.5
19.1
16.1
31.9
15.5
17.5
15.1
27.9
16.3
20.3
20.6
10.2
7.5
6.0
4.7
8.4
5.3
SURVEY OF CURRENT BUSINESS
28 • December 1992
Table 1.—Gross Domestic Product—Continued
[Billions of dollars; quarterly data are seasonally adjusted at annual rates]
Personal consumption expenditures
Year and
quarter
GDP
Total
Durable Nondurable
goods goods
Services
Gross private domestic investment
Total
Nonresidential
Residential
Net exports
CBI
Government purchases
Exports Imports
Net
Total
Federal
State
and
local
Final
Gross Gross
sales of domesdomes- tic pur- national
tic
product
product chases
1952: 1
II
III
IV
343.2
343.7
349.6
3622
213.3
217.4
219.9
228.0
28.9
29.1
27.4
31.5
111.4
113.7
115.9
117.9
72.9
74.6
76.5
78.6
55.4
49.9
53.9
57.0
32.4
32.9
29.8
32.5
18.0
18.5
18.5
19.4
4.9
-1.5
5.6
5.1
3.6
1.8
-.1
-1.1
18.6
16.5
15.1
15.2
15.0
14.6
15.3
16.3
70.9
74.5
76.0
78.3
48.9
51.8
53.5
55.2
22.0
22.7
22.5
23.1
338.3
345.2
344.1
357.1
1953: 1
II
369.0
372.4
371.8
366.8
33.0
32.9
32.7
32.1
57.8
57.9
57.2
522
34.3
34.8
35.9
35.4
19.7
19.8
19.2
18.9
3.8
3.4
22
-22
-.8
-1.4
-.7
-.4
15.0
15.1
15.7
15.1
15.8
16.4
16.3
15.5
80.4
82.3
80.7
80.8
56.5
58.6
56.3
55.7
23.8
23.7
24.4
25.0
31.4
32.1
31.6
33.3
118.1
'118.1
117.6
117.5
118.7
118.8
119.9
121.3
80.5
82.5
84.2
84.7
366.3
366.6
371.2
379.4
231.6
233.5
234.5
234.2
236.4
239.1
241.4
246.0
86.3
88.2
90.0
91.4
51.6
512
54.7
57.8
34.5
34.3
35.0
34.9
19.0
20.3
21.8
23.2
-1.9
-3.4
-2.1
-.3
-.4
2
.5
1.1
14.3
16.3
15.8
16.5
14.8
162
15.3
15.5
78.8
76.1
74.6
74.6
52.8
49.5
47.0
46.7
1955: 1
II
Ill
IV
392.3
400.6
408.9
4152
252.2
257.2
261.5
265.6
36.5
38.8
40.6
39.6
122.3
124.0
125.0
127.5
93.4
94.4
95.8
98.4
642
68.1
69.9
73.7
35.4
37.9
40.4
42.5
25.0
25.6
252
24.2
3.7
4.6
4.2
7.1
1.0
-.3
.6
.1
172
16.8
18.1
18.3
162
17.1
17.4
18.1
75.0
75.5
76.9
75.8
1956: 1
II
Ill
IV
417.6
423.1
427.8
436.5
37.9
38.0
37.6
39.3
129.1
130.0
131.3
132.7
1002
101.8
103.9
106.0
73.1
71.5
72.6
71.5
42.8
43.9
45.4
45.9
23.7
23.9
23.5
23.0
6.6
3.7
3.7
2.5
.3
1.8
2.5
4.4
19.3
20.8
21.7
23.0
18.9
19.0
19.3
18.5
1957: 1
II
Ill
IV
444.9
446.6
453.9
449.0
40.3
39.8
39.4
39.1
134.5
135.8
1392
138.9
107.5
108.9
110.5
112.9
71.9
71.9
73.4
65.1
47.0
47.1
48.4
47.5
22.6
222
22.0
21.9
2.3
2.6
3.0
-4.3
4.7
4.0
3.9
3.3
24.8
24.3
23.6
22.9
1958: 1
II
Ill
IV
441.6
445.8
459.1
472.3
267.2
269.7
272.8
278.0
282.3
284.5
289.1
290.9
290.5
293.5
298.6
302.5
37.1
36.3
37.0
38.3
139.5
140.8
142.8
143.9
113.9
116.4
118.9
120.3
60.5
58.7
65.5
73.2
43.6
42.0
41.4
43.0
20.9
21.0
22.5
24.9
-4.0
-42
1.5
5.2
1.0
.4
.7
-.4
1959: |
II
Ill
IV
483.5
496.2
496.4
500.5
310.5
316.4
321.7
323.8
41.6
43.4
44.2
42.0
1462
147.6
149.2
150.8
122.7
125.4
1282
131.0
76.7
82.7
76.3
79.4
44.5
46.1
47.8
47.6
27.8
28.8
28.3
27.5
4.4
7.8
2
4.3
1960: 1
II
Ill
IV
514.0
512.9
515.8
510.8
43.3
44.2
43.7
42.5
150.9
153.8
153.4
154.4
133.1
135.4
136.3
138.6
89.1
79.4
78.4
68.1
49.4
502
48.9
48.5
28.4
26.1
25.3
25.3
1961:1
515.1
525.9
536.6
549.5
327.3
333.4
333.4
335.5
336.4
341.4
344.4
351.7
40.0
41.0
42.3
44.3
155.9
156.8
157.4
159.6
140.5
143.5
144.8
147.8
70.2
75.4
82.2
84.0
47.4
48.3
48.6
50.2
1962: 1
II
IV
561.9
569.4
576.2
578.9
3562
362.2
366.4
372.7
45.3
46.6
47.1
49.1
161.5
162.9
164.4
166.3
149.4
152.7
154.8
157.3
89.3
87.9
89.1
85.4
1963: 1
II
Ill
IV
588.1
596.7
609.4
618.3
502
51.5
52.2
53.3
167.5
168.2
170.7
171.2
158.6
161.0
164.8
167.9
1964: 1
II ...
Ill
IV
634.8
643.6
654.1
659.7
55.4
56.8
58.6
56.6
175.3
178.5
182.0
183.1
1965: 1
679.8
691.9
708.3
730.7
753.1
762.2
775.3
788.5
797.7
803.8
820.5
835.3
376.3
380.6
387.7
392.3
401.7
409.4
418.1
420.6
431.2
438.2
447.4
461.5
471.8
476.8
486.1
491.7
62.1
61.9
63.8
66.1
69.2
66.5
69.1
69.3
496.6
506.1
513.5
521.0
859.6
883.7
900.3
913.7
1969: 1
II
Ill
IV
937.3
951.1
970.7
978.8
1970: 1
II
Ill
IV
Percent change from preceding
pe
GDP
Final
Gross
sales of domesdomes- tic purtic
product chases
GNP
345.3
345.9
351.7
364.2
3.7
.6
7.1
15.1
3.8
8.4
-1.3
16.0
4.4
2.8
9.5
16.4
3.6
.7
7.0
15.0
365.2
369.0
369.7
368.9
339.6
341.9
349.8
363.3
369.7
373.7
372.5
367.2
371.0
374.5
373.7
368.7
7.7
3.8
-.6
-5.3
9.4
4.3
.7
-.8
7.3
4.4
-1.3
-5.6
7.I
3.1
-.8
-5.3
26.0
26.6
27.6
27.8
368.3
370.0
373.3
379.7
366.8
366.4
370.7
378.4
368.4
368.7
373.4
381.9
-.5
.3
5.1
9.1
-.7
1.9
3.6
7.1
-.5
-.4
4.8
8.5
-.3
.3
5.2
9.4
46.1
46.2
47.1
45.5
28.9
29.4
29.7
30.2
388.6
396.0
404.6
408.1
391.3
400.9
408.2
415.1
394.8
403.1
411.4
417.8
14.3
8.8
8.5
6.4
9.6
7.9
9.0
3.5
14.4
10.2
7.5
6.9
14.3
8.7
8.5
6.4
76.9
80.0
79.9
82.6
45.7
48.0
47.2
49.2
31.2
32.0
32.7
33.4
411.0
419.4
424.1
434.0
4172
421.3
425.3
432.1
420.5
426.0
430.8
4392
2.3
5.4
4.5
8.4
2.9
8.4
4.6
9.7
2.1
3.9
3.9
6.5
2.6
5.4
4.6
8.0
20.1
20.3
19.8
19.6
86.0
86.2
87.5
89.8
51.4
50.8
51.4
52.8
34.6
35.4
36.1
37.0
442.7
443.9
450.9
453.3
4402
442.6
450.0
445.7
448.1
450.1
4572
451.7
7.9
1.5
6.7
-42
8.2
12
6.4
22
7.7
2.2
6.8
-3.7
8.4
1.8
6.5
-4.8
20.4
20.4
20.5
20.5
19.5
20.1
19.7
20.8
89.6
93.2
94.3
97.0
51.5
54.2
54.3
56.0
38.1
39.0
40.0
40.9
445.6
450.1
457.6
467.1
440.7
445.5
458.4
472.7
444.4
448.6
461.8
475.0
-6.4
3.9
12.5
12.0
-6.6
4.0
6.9
8.6
-4.5
4.4
12.1
13.1
-6.3
3.9
12.3
11.9
-1.7
-2.5
-1.1
-1.4
19.7
20.0
21.8
21.1
21.4
22.5
22.9
22.5
98.0
99.6
99.5
98.7
56.3
57.7
57.6
56.9
41.7
41.9
41.9
41.7
479.1
488.4
4962
4962
485.3
498.8
497.5
501.9
4862
498.9
499.3
503.6
9.8
10.9
2
3.3
10.7
8.0
6.5
0
11.1
11.6
-1.0
3.6
9.8
10.9
.3
3.5
11.3
3.0
42
-5.7
.9
1.7
3.0
4.0
242
25.2
25.9
25.8
23.3
23.5
22.9
21.7
96.7
98.4
100.9
103.1
53.7
542
55.8
57.3
42.9
44.2
45.1
45.8
502.7
509.8
511.6
516.4
513.1
511.1
512.8
506.7
517.0
516.0
519.0
5142
11.2
-.9
2.3
-3.8
5.3
5.8
1.4
3.8
92
-1.6
1.3
-4.7
11.1
-.8
2.3
-3.6
25.3
25.5
26.9
27.8
-2.6
1.6
6.7
6.0
4.4
3.3
2.8
2.9
26.1
252
26.1
26.8
21.7
21.9
23.3
23.9
1042
105.9
107.1
110.8
56.7
58.2
58.7
60.6
47.5
47.6
48.4
50.2
517.7
524.4
529.9
543.5
510.7
522.7
533.7
546.6
518.8
529.4
540.2
5532
3.4
8.7
8.4
10.0
1.0
5.3
4.3
10.7
32
9.7
8.7
10.0
3.6
8.4
8.4
10.0
51.4
53.0
53.7
532
28.4
292
29.2
29.1
9.5
5.6
62
3.1
2.3
3.2
2.9
1.5
26.6
28.1
28.0
27.0
24.3
24.9
25.1
25.5
114.1
116.1
117.9
119.2
63.7
65.1
66.2
66.7
50.4
51.0
51.7
52.6
552.4
563.7
570.0
575.8
559.7
5662
573.3
577.4
565.7
573.5
580.3
583.7
9.3
5.4
4.9
1.9
6.7
8.4
4.5
4.1
9.9
4.7
5.1
2.9
9.3
5.6
4.8
2.4
90.3
91.8
94.7
96.6
53.1
54.7
56.3
58.1
30.2
32.2
32.5
33.7
7.0
4.9
5.9
4.8
2.0
3.7
3.1
4.4
27.2
29.6
29.8
31.1
252
25.9
26.7
26.8
119.5
120.5
124.0
125.0
65.4
65.6
67.4
672
54.1
54.9
56.5
57.8
581.1
591.8
603.5
613.5
586.1
592.9
606.4
613.9
6.5
6.0
8.8
6.0
3.7
7.6
8.1
6.8
6.2
4.7
9.4
5.0
6.3
5.8
8.8
6.1
171.1
174.2
177.5
180.9
100.6
100.4
101.5
104.4
59.6
61.4
63.5
652
35.4
342
33.7
33.8
5.6
4.8
4.3
5.4
5.9
4.9
5.4
5.7
32.9
32.6
33.9
35.0
27.0
27.7
28.4
29.3
126.6
128.8
129.0
129.1
67.6
68.2
67.4
66.6
59.0
60.6
61.5
62.5
629.2
638.7
649.7
654.3
11.1
5.7
6.7
3.5
10.6
62
7.1
2.9
10.1
6.4
6.3
3.4
11.3
5.5
6.8
3.3
185.6
189.1
192.8
200.0
183.5
187.1
190.8
195.5
115.8
115.8
119.1
121.3
33.9
34.2
34.3
34.5
12.3
9.2
9.5
7.8
66.1
67.6
70.0
74.1
63.6
65.6
68.2
69.7
14.7
6.4
10.5
13.1
13.5
12.5
122
17.0
35.0
362
382
38.8
147.5
153.5
159.0
163.4
75.9
80.2
83.8
85.3
71.6
73.3
752
78.1
12.8
4.9
7.1
7.0
9.6
5.6
7.3
4.5
13.5
5.6
7.7
6.6
13.1
7.4
9.5
12.9
12.9
4.9
7.0
72
67.8
71.2
71.3
72.2
215.1
219.4
224.3
2282
126.6
122.5
129.5
133.5
84.3
84.5
84.7
87.2
28.3
31.6
33.4
36.0
14.0
6.4
11.4
10.2
2.3
2.1
1.1
2
41.7
41.1
40.7
41.9
39.4
39.0
39.5
41.7
1722
173.1
176.3
180.6
91.8
91.4
93.2
95.0
80.4
81.7
83.1
85.6
685.3
697.7
713.7
735.6
758.2
767.3
780.3
793.9
803.0
809.0
826.2
841.0
8.3
9.4
9.8
14.5
34.8
332
31.9
29.2
667.5
682.7
698.8
722.8
739.6
749.7
763.1
771.5
783.7
797.5
809.1
825.2
12.8
7.3
9.8
13.3
130.5
129.9
129.4
131.9
31.5
36.3
35.7
38.0
38.2
38.2
39.0
40.4
129.8
133.3
138.2
143.8
198.5
202.6
206.4
210.9
3.0
4.7
3.7
4.1
3.2
2.0
.8
1.5
28.5
31.7
32.0
33.9
204.2
207.7
210.7
211.4
213.7
215.5
217.8
220.6
69.7
72.4
75.3
78.9
82.2
84.2
85.3
85.7
628.9
1 638.7
648.6
654.0
i 676.8
687.3
704:6
726.6
749.9
760.2
774:5
787.0
795.4
801:7
819.3
835,1
592.7
601.1
613.9
623.0
639.9
648.5
659.2
664.5
4.7
3.1
8.6
7.4
6.5
72
5.9
8.2
4.3
3.2
9.1
7.9
4.7
3.0
8.8
7.4
539.0
552.6
568.3
576.6
77.3
79.3
83.6
83.8
227.6
232.6
238.6
241.1
234.1
240.6
246.1
251.6
135.3
141.7
140.3
142.4
90.6
89.9
91.8
96.0
36.9
38.2
38.9
40.9
7.8
13.7
9.6
5.4
-12
-.6
-1.3
-1.9
432
44.8
47.0
462
44.4
45.4
48.2
48.2
186.5
190.0
192.9
196.7
98.0
98.6
99.4
100.6
88.5
91.4
93.5
96.1
851.8
870.0
890.6
908.3
860.8
884.3
901.5
915.6
865.5
889.8
906.6
920.0
12.2
11.7
7.7
6.1
13.5
8.8
9.8
8.2
12.9
11.4
8.0
6.4
12.2
11.7
7.8
6.0
85.8
862
86.4
86.5
154.3
154.1
159.1
153.3
99.5
101.4
105.1
105.6
432
43.4
43.2
40.7
11.6
9.3
10.9
7.1
-1.9
-1.8
—1.3
'.1
41.9
50.9
51.0
532
43.8
52.7
52.4
53.1
196.9
2002
204.6
205.4
925.7
941.7
959.8
971.7
7.9
7.1
7.9
5.1
105.8
107.1
108.2
105.7
40.7
39.4
40.4
45.0
2.1
3.7
5.4
-22
1.1
2.4
9
'A
54.7
57.6
57.3
58.3
53.5
55.2
56.4
57.9
208.9
210.0
214.5
217.3
107.5
110.4
114.8
117.5
4.5
5.8
7.8
1.4
6.7
5.1
7.1
4.5
10.7
5.9
8.3
2.8
4.1
5.3
8.5
1.6
10.7
5.9
8.4
3.4
148.6
150.2
154.0
148.5
943.7
939.2
957.3
952.8
976.7
972.0
978.7
984.8
988.5
996.0
987.6
1,000.0 1,001.3 1,010.4
1,017.4 1,022.0 1,029.4
1,028.6 1,026.0 1,032.5
10.7
6.0
8.5
3.4
281.1
286.5
294.3
301.3
99.0
99.6
102.2
1,01.3
101.4
99.6
99.6
99.8
98.0
100.6
102.4
104.1
852
86.4
87.3
82.5
245.5
250.2
254.2
258.8
264.7
268.2
271.9
276.5
256.6
262.1
267.6
274.7
989.7
1,003.8
1,022.8
1,026.4
587.9
598.5
608.3
620.0
631.0
641.1
653.5
660.3
1971:1
II
Ill
IV
1,069.8
1,0882
1,108.4
1,122.3
679.6
693.6
706.0
722.1
93.1
95.9
98.1
101.9
3082
315.8
323.4
331.7
1692
175.2
180.1
177.7
1082
111.1
112.4
115.3
48.6
54.6
58.3
61.5
12.4
9.5
9.4
.9
.8
-3.8
-3.1
-6.0
59.5
59.5
62.4
55.9
58.7
63.3
65.5
61.9
220.2
2232
225.5
228.5
99.5
99.7
1002
100.5
120.6
123.5
125.2
128.1
1,057.4
1,078.7
1,099.0
1,121.5
1,069.0
1,092.0
1,111.5
1,128.3
1,077.3
1,0962
1,115.7
1,130.2
18.0
7.1
7.6
5.1
11.7
8.3
7.7
8.4
17.8
8.9
7.3
6.2
18.5
72
7.3
5.3
1972: 1
II
Ill
IV
1,160.9
1,192.5
1,217.7
1,256.8
739.2
757.1
775.1
799.7
105.3
108.5
111.8
117.4
278.3
282.0
284.4
288.5
293.2
301.5
308.5
317.4
340.8
3472
354.8
364.9
1922
203.3
209.4
217.6
120.6
123.5
126.3
133.8
66.6
682
69.6
74.3
5.0
11.6
13.6
9.4
-8.6
-8.3
-7.9
-7.1
63.5
63.1
66.2
72.1
722
71.4
74.1
79.2
238.1
240.4
241.1
246.5
107.0
108.1
105.6
106.7
131.0
132.3
135.5
139.9
1,155.9 1,169.5
1,180.9 1,200.8
1.204.1 1,225.7
1,247.3 1,263.8
1,1692
1,200.8
1,226.8
1,265.9
14.5
11.3
8.7
13.5
12.8
8.9
8.1
15.1
15.4
11.1
8.6
13.0
14.5
11.3
8.9
13.4
iii ! " "
IV
1954: 1
II .
HI
IV
..
II
III '"""I,
IV
iii "!.""!"
Ill ".""!"'.
IV
1966: 1
Ill ""Z
IV
1967: 1
II
III
IV
1968: 1
Ill """"!
IV
4.6
5.9
7.7
12
SURVEY OF CURRENT BUSINESS
December 1992
Table 1.—Gross Domestic Product—Continued
[Billions of dollars; quarterly data are seasonally adjusted at annual rates]
Personal consumption expenditures
Year and
quarter
GDP
Total
Durable
goods
Nondurable
goods
Services
Gross private domestic investment
Total
residential
Residential
Non-
Net exports
CBI
Government purchases
State
and
local
Final
Gross
Gross
sales of domesdomes- tic pur- national
product
tic
chases
product
Exports
Imports
81.0
88.3
94.3
103.4
85.4
89.5
91.1
98.7
252.7
255.4
257.7
265.1
108.9
108.5
107.0
109.8
143.7
146.9
150.7
155.4
1,291.3
1,317.8
1,346.9
1,371.5
1,308.7
1,335.6
1,355.2
1,396.4
1,315.1
1,346.2
1,372.3
1,415.6
114.6
123.7
124.5
134.4
110.3
129.4
133.6
136.6
273.8
283.1
292.8
303.4
112.3
114.3
118.8
124.9
161.5
168.8
174.0
178.5
1,397.1
1,427.6
1,466.2
1,486.5
1,406.6
1,449.7
1,483.8
1,506.9
1,428.1
1,460.7
1,490.2
1,518.3
2.8
97
8.7
8.4
138.0
131.8
133.7
141.7
124.9
115.2
122.1
128.7
310.5
316.7
324.5
333.8
126.1
127.7
129.8
134.1
184.4
189.1
1,500.5
1,535.6
1,602.8
1,650.4
1,525.2
1,564.0
1,627.6
1,679.5
2.4
1947
1997
1,526.5
1,567.5
1,612.5
1,659.6
-1.1
-5.0
-7.2
143.1
146.0
150.9
155.4
138.9
147.1
155.9
162.7
337.4
338.4
341.3
347.9
133.2
134.0
135.7
140.1
204.2
204.3
205.6
207.8
1,7017
1,725.8
17607
1,8187
1,713.6
1,747.5
1,784.9
1,836.8
1,733.7
1,763.3
1,797.2
1,847.7
-21 2
-21 5
-21.2
-30.8
154.8
161.3
161.8
157.1
1761
3559
3657
371.3
379.2
1427
2131
2183
222.5
225.9
1 8665
l!927!8
1,976.6
2,026.6
1 ,902.9
l!9744
2,036.2
2,077.6
1 9027
l!973i8
2,0362
2,065.8
164.0
185.6
190.5
204.5
203.3
208.9
385.8
3977
409.3
421.5
154.9
169.4
230.9
237.0
245.6
252.1
2,064.9 2,129.5
2,185.1 2,237.1
2,2472 2,299.3
2,321.8 2,369.3
2,112.4
2,232.8
2,295.9
2,377.1
210.7
219.9
233.1
251.9
229;9
243^2
257.3
280.4
427.1
440.1
454.9
471.9
172.5
175.2
180.4
189.2
254.6
264.8
274.5
2827
2,3787 2,418.4
2,430.1 2,476.6
2,516.0 2,547.5
2,578.6 2,607.3
2,425.2
2,483.0
2,559.6
2,615.3
267.5
2762
282.7
290.4
304.6
292,8
279.2
299.0
490.5
504.1
507.4
526.4
198.6
208.5
208.8
220.6
291.9
295.5
298.6
305.8
2,643.1
2,646.1
2,741.2
2,839.7
2,687.3
2,660.5
2,701.8
2,841.5
2,687.7
2,679.4
2,739.8
2,861.5
Net
Total
Federal
1973: 1
II
Ill
IV
1,304.4
1,334.5
1,358.4
1,401.2
824.0
838.8
857.3
872.6
125.7
124.6
124.3
121.7
327.0
333.6
344.0
353.7
371.3
380.6
388.9
3972
232.1
241.4
240.1
258.7
141.2
149.0
153.7
156.4
77.9
75.8
75.0
72.7
13.1
16.7
11.4
29.6
1974: 1
II
Ill
IV
1,410.9
1,444.1
1,474.7
1,504.8
891.0
919.0
946.7
954.2
119.5
123.6
129.5
119.3
365.6
376.7
388.0
392.9
405.9
418.6
429.2
442.0
241.8
247.7
244.4
249.3
159.0
163.7
168.5
171.0
69.0
67.5
67.4
60.0
13.8
16.5
18.3
-5.6
-9.1
-2.1
1975: 1
II
III
IV
1,513.6
1,552.1
1,614.4
1,663.3
978.9
1,008.3
1,042.1
1,070.3
124.0
129.1
138.9
145.4
400.3
411.1
423.0
429.8
454.6
468.1
480.1
495.1
211.0
210.6
236.3
2462
166.3
166.0
169.7
173.9
57.7
59.9
64.6
68.7
-12.9
-15.4
1.9
3.7
13.1
16.6
11.6
12.9
1976: 1
II
Ill
IV
1,717.8
1,746.4
1,779.9
1,829.6
1,104.8
1,124.5
1,153.9
1,189.1
1552
439.4
446.3
455.8
465.8
510.3
520.8
5372
556.7
271.3
284.6
289.7
299.8
179.1
183.4
189.8
196.4
76.2
80.7
80.6
92.5
16.1
20.6
19.2
10.9
1977- 1
II ..
Ill
IV
1,881.7
1,952.9
2,015.1
2,046.8
1,225.5
1,253.5
1,284.7
1,322.4
1752
180.3
184.6
190.5
477.4
485.6
492.0
506.9
572.9
587.6
608.2
625.0
321 6
3552
380.3
376.0
2088
218^5
226.8
238.8
1978: 1
||
III
IV
2,090.2
2,213.9
2,274.7
2,352.0
1,351.7
1,410.1
1,442.7
1,480.3
187.9
205.3
205.5
210.4
516.7
534.5
549.4
565.5
647.1
670.2
687.8
704.4
391.9
429.4
447.3
467.4
245.7
270.1
284.0
2982
121.0
130.5
135.8
139.0
252
302
-39.3
-23.3
-24.6
-17.3
1979: I
II
HI
IV
2,399.2
2,453.3
2,523.3
2,578.8
1,520.4
1,554.8
1,607.1
1,652.5
211.8
210.6
218.3
216.0
583.6
599.8
624.5
645.5
725.0
744.4
764.3
791.0
470.9
481.7
485.5
482.9
311.9
317.7
334.7
341.5
138.6
140.9
143.5
141.2
20.4
-192
232
7.3
2
-23.3
1980: 1
II
III
IV
2,650.1
2,643.9
2,705.3
2,832.9
1,701.5
1,704.9
1,762.3
1,823.6
218.7
211.3
221.8
667.1
673.8
6862
704.6
815.7
832.9
864.9
8972
495.3
451.5
432.1
491.5
353.6
342.5
352.1
367.1
134.6
111.2
115.9
131.3
7.1
-22
-35.9
-37.1
-16.6
3.5
-6.8
-8.6
1981: 1
li
Ill
IV
2,953.5
2,993.0
3,079.6
3,096.3
1,876.0
1,908.9
1,952.1
1,968.0
230.8
225.5
236.3
221.4
731.3
741.6
748.5
755.5
913.9
941.7
967.2
991.1
548.5
543.3
575.4
564.7
383.7
400.7
418.4
437.1
131.9
128.7
120.1
109.5
32.9
13.9
36.9
18.1
-16.3
-16.0
-10.0
-16.4
303.0 , 319.3
305.8
321.7
299.9
310.0
303.4
319.7
545.4
556.8
562.2
579.9
229.0
239.8
241.8
252.6
316.4
317.0
320.3
327.4
2,920.6 2,969.8
2,979.2 3,009.0
3,0427 3,089.6
3,0782 3,1127
2,985.5
3,023.5
3,112.4
3,1337
1982: 1
II
Ill
IV
3,092.9
3,146.2
3,164.2
3,195.1
2,005.4
2,029.4
2,073.1
2,128.7
230.9
232.9
235.2
246.9
7612
1,013.3
1,0332
1,060.4
1,094.6
517.9
522.1
509.4
4642
432.6
419.4
405.0
397.7
104.7
102.8
102.4
112.8
-19.3
-2
2.0
-46.3
-17.5
763.3
777.5
787.3
-30.3
-29.5
291.9
293.9
279.0
265.6
309.4
299.0
309.3
295.1
587.1
599.8
612.0
631.6
255.8
261.0
268.0
281.4
331.3
338.8
344.0
350.3
3,112.3
3,146.4
3,162.1
3,241.4
3,110.4
3,151.3
3,194.5
3,224.6
3,123.7
3,179.2
3,193.8
3,222.6
1983: 1
II
Ill
IV
3,254.9
3,367.1
3,450.9
3,547.3
2,162.9
2,231.9
2,288.7
2,346.8
2512
791.7
810.4
829.4
839.8
1,120.0
1,151.4
1,178.3
1,209.3
478.3
532.5
561.2
614.8
385.3
3872
401.3
426.9
130.3
148.1
162.0
167.7
-37.3
270.1
281.0
297.7
202
-23.7
-44.9
-65.2
-71.8
270.6
272.3
277.7
2862
294.3
317.2
342.9
358.0
637.5
6477
666.3
657.6
284.6
291.0
302.6
2897
352.9
3567
363.7
367.9
3,2922
3,370.0
3,453.0
3,527.1
3,2787
3,412.0
3,516.1
3,619.1
3,283.8
3,394.0
3,481.6
3,578.4
1984: 1
II
Ill
IV
3,666.9
3,754.6
3,818.2
3,869.1
2,392.4
2,444.5
2,477.8
2,526.4
307.6
317.9
318.0
3282
854.1
872.0
878.2
887.8
1,230.8
1,254.6
1,281.7
1,310.4
693.6
719.2
739.9
722.8
441.0
463.9
479.3
491.5
174.7
180.6
179.8
180.4
77.9
74.7
80.7
51.0
-95.5
-104.5
-103.8
-107.1
293.1
302.1
305.7
308.7
388.5
406.7
409.5
415.7
676.3
695.4
704.4
727.0
297.9
309.6
311.2
3247
378.4
385.8
393.1
4022
3,589.0
3,679.8
3,737.5
3,818.1
3,762.3
3,859.1
3,922.1
3,976.2
3,694.2
3,778.3
3,843.3
3,890.2
1985: 1
II
Ill "......"
IV
3,940.0 2,589.2
3,997.5 2,636.4
4,076.9 2,704.2
4,140.5 2,739.8
3422
347.0
368.2
354.4
899.9
914.3
923.8
939.5
1,347.1
1,3752
1,412.2
1,446.0
700.5
714.8
706.0
737.0
499.1
506.1
499.6
511.3
182.1
182.0
186.5
193.1
19.3
26.7
19.9
32.6
-91.8
-116.0
-118.9
-135.5
305.0
302.7
295.8
304.7
39,6.8
41,8.7
4t4.7
440.2
742.2
762.4
785.6
799.2
330.0
338.2
352.1
356.9
4122
3,9207 4,031.8
3,970.9 4,113.6
4,057.0 4,195.8
4,107.9 4,276.0
1986: 1
II
III
IV
4,215.7
4,232.0
4,290.2
4,336.6
2,784.8
2,812.3
2,882.0
2,923.1
363.8
376.1
411.6
406.8
950.1
943.9
951.0
963.7
1,470.9
1,492.3
1,519.4
1,552.6
752.8
724.1
696.4
697.1
501.6
490.1
486.0
491.7
203.1
216.7
222.4
224.2
48.1
17.4
-12.0
-18.8
-127.8
-129.7
-139.4
-1332
311.5
313.0
318.4
333.9
439.2
442.7
457.8
467.1
805.9
825.3
851.2
8497
352.2
364.2
381.5
373.1
469.7
476.6
4,167.6
4,2147
4,302.3
4,355.4
1987: 1
II
III
IV
4,408.3
4,494.9
4,573.5
4,683.0
2,962.8
3,030.1
3,091.4
3,124.6
384.9
401.4
419.7
408.8
989.0
1,007.6
1,018.4
1,029.4
1,588.8
1,621.2
1,653.3
1,686.4
7252
733.9
737.9
8002
479.3
489.7
507.8
514.3
2228
226.4
2252
226.5
23.1
17.8
59.3
-140.3
-145.1
-143.8
-1432
336.3
355.7
371.5
392.4
476.5
500.8
515.3
5?5.6
860.6
876.0
888.0
901.4
375.6
384.5
387.1
392.5
485.0
491.5
501.0
509.0
1988: 1
II
Ill
IV
4,752.4
4,857.2
4,947.3
5,044.6
3,199.1
3,260.5
3,326.6
3,398.2
428.8
433.1
433.5
452.9
1,041.5
1,062.0
1,085.8
1,105.8
1,728.8
1,765.4
1,807.3
1,839.5
770.6
788.4
800.7
814.8
526.8
544.1
550.3
560.2
227.0
230.5
233.3
237.3
16.8
13.8
17.1
17.3
-122.0
-105.6
-98.5
-106.0
418.5
438.8
452.4
467.0
540.5
544.3
550.9
573.1
9047
913.8
918.5
937.6
386.6
386.0
383.5
392.0
1989: 1
II
Ill
IV
5,150.0
5,229.5
5,278.9
5,344.8
3,440.8
3,499.1
3,553.3
3,599.1
450.8
457.6
470.8
458.3
1,121.1
1,146.5
1,157.1
1,173.5
1,868.8
1,895.1
1,925.4
1,967.3
843.9
840.3
819.6
825.2
563.4
568.4
571.5
568.8
236.8
232.1
228.5
226.2
43.7
39.8
19.6
30.2
-£5.1
-£0.1
-79.7
-73.9
489.7
509.5
509.0
523.8
574.9
589.6
588.7
597.7
950.4
9702
985.6
994.5
1990: 1
II
Ill
IV
5,445.2
5,522.6
5,559.6
5,561.3
3,672.4
3,715.3
3,787.8
3,818.2
478.0
463.5
463.0
452.7
1,199.3 1,995.0
1,208.7 2,043.1
1,235.3 2,089.6
1,254.5 2,111.1
820.3
833.0
805.7
739.0
580.1
572.1
585.2
572.9
232.1
223.1
210.1
197.1
-72.1
-59.9
-76.3
5412
37.7
10.4
-31.0
-672
551.2
555.9
579.7
6,13.3
611.2
6322
646.9
1991:1
II
III
IV
5,585.8
5,657.6
5,713.1
5,753.3
3,821.7
3,871.9
3,914.2
3,942.9
439.5
441.4
453.0
450.4
1,245.0 2,137.2
1,254.2 2,176.3
1,255.3 2,205.9
1,251.4 2,241.1
705.4
710.2
732.8
736.1
551.4
545.8
538.4
528.7
182.6
186.2
-28.5
-21.8
.2
9.2
-28.7
-15.3
-27.1
-16.0
5732
594.3
602.3
622.9
1992; I
||
Ill
5,8402 4,022.8
5,9022 4,057.1
5,978.5 4,108.7
469.4
470.6
482.5
1,274.1
1,277.5
1,292.8
722.4
773.2
781.6
531.0
550.3
549.6
2072
214.8
217.0
-8.1
628.1
625.4
639.0
157.5
160.8
166.6
1982
2,279.3
2,309.0
2,333.3
976
1117
115.0
116.9
1942
198.2
NOTE.—GDP Gross domestic product; CBI Change in business inventories; GNP Gross national product
8.5
152
25!o
38.4
20.3
28.7
27.5
-2.8
-2.1
4.9
8.1
-15.8
8.1
15.0
Percent change from preceding
period
-4.4
-1.1
3.2
4.7
4.3
4.2
-242
-28.6
-5.1
-37.1
-36.0
182!s
183.0
187,9
215n
221 ;8
1
146^8
148.8
153.3
1607
1637
GDP
16.0
9.6
7.4
13.2
Final
Gross
sales of domesdomestic purtic
product chases
14.9
15.0
8.5
9.1
7.5
12.7
77
9:0
12.8
11.3
57
112
112
8.5
6.0
3.0
9.7
6.4
-1.7
12.0
97
187
127
122
12.4
13.8
10.5
162
8.2
8.8
10.6
17.0
6.8
7.9
5.8
8.3
13.8
12.1
11 9
109
152
153
13.4
10.5
10.5
13.1
11.6
ie!o
6.4
8.8
25.9
11.4
14.3
8.3
9.3
11.9
9.1
11.5
-.9
9.6
ia!s
7.8
25.4
11.9
14.0
10.2
8.9
14.9
10.3
10.4
.5
152
GNP
16.5
9.8
8.0
13.2
3.6
9.4
8.3
7.8
1.8
10.6
17.3
13.4
13.5
7.0
7.9
117
124
15!8
13.3
8.4
5.9
10.4
21.8
11.6
12.7
24.8
11.8
14.9
8.6
10.0
12.0
97
12.8
-3.9
6.4
9.3
8.3
9.9
12.9
9.0
11.5
-12
9.3
20.2
15.2
22.3
19.0
18.1
11.9
19.3
18.5
8.3
8.8
4.7
5.4
112
3.0
12.3
4.5
4.5
2.0
-.3
5.4
5.6
3.8
5.5
12.1
22
-.4
7.1
2.3
4.0
10.4
117
6.4
9.8
102
8.9
14.2
7.2
77
14.5
10.3
6.9
17.3
12.8
12.2
16.8
10.7
5.2
2.8
-1.3
7.3
1.8
37
7.8
14.1
107
11.6
13.6
67
5.6
9.4
7.1
5.0
52
9.0
5.1
57
8.4
82
7.9
6.9
5.9
7.9
6.7
7.5
1.6
5.6
4.4
5.9
4.6
8.6
5.0
6.5
1.7
6.4
3.7
7.4
7
5.9
3.8
4,412.4
4,497.5
4,577.7
4,690.5
6.8
8.1
72
9.9
2.8
8.6
8.4
4.9
72
8.3
6.8
9.6
6.8
7.9
7.3
4,874.4
4,962.7
5,045.8
5,150.7
4,764.3
4,862.7
4,951.6
5,054.3
6.1
9.1
7.6
8.1
5,1062
5,1897
5,259.3
5,314.6
5,235.1
5,309.6
5,358.6
5,4187
5,164.0
5,243.3
5,294.7
5,365.0
604.3
610.0
619.7
633.0
5,437.1
5,484.9
5,5492
5,592.3
5,517.4
5,582.6
5,635.9
5,628.5
451.3
449.9
447.2
440.8
636.3
640.8
646.0
649.5
445.0
444.8
455.2
658.0
664.3
669.0
5,855.9
5,894.1
5,963.5
9.9
6.9
5.4
10.5
3,955.7
4,012.9
4,089.5
4,156.2
7.5
6.0
82
6.4
11.2
4,343.5
4,3617
4,429.7
4,469,8
4,231.4
4,239.1
4,300.0
4,340.5
4,385.2
4,477.1
4,568.6
4,623.7
4,548.6
4,640.0
4,717.3
4,826.2
518.1
527.8
535.1
5457
4,735.6
4,843.4
4,9302
5,027.3
392.3
401.6
407.3
405.1
558.1
568.6
578.4
589.3
1,0247
1,034.3
1,042.4
1,071.3
420.3
424.4
422.6
438.3
602.0
609.6
629.5
638.9
1,087.5
1,090.8
1,093.3
1,090.3
6362
662.5
675.0
1,103.1
1,109.1
1,124.2
4242
433.4
442.4
453.7
4612
6.4
8.9
10.2
9.4
7.4
8.1
4.1
7.4
6.9
8.6
6.4
8.5
7.5
8.6
8.6
6.3
3.8
5.1
6.4
6.7
5.5
4.3
67
5.8
37
4.6
9.0
6.3
4.0
5.4
5,464.1
5,537.0
5,577.8
5,5927
7.7
5.8
2.7
.1
9.5
3.6
4.8
3.1
7.5
4.8
3.9
-.5
7.6
5.4
3.0
1.1
5,614.4 5,614.6
5,679.4 5,672.9
5,712.9 5,740.3
5,744.2 5,769.3
5,614.9
5,674.3
5,726.4
5,764.1
1.8
52
4.0
2.8
1.6
47
2.4
2.2
5,848.3
5,939.4
6,014.5
5,859.8
5,909.3
5,992.0
62
4.3
5.3
8.0
2.6
4.8
10.0
4.2
4.8
2.0
1.6
4.3
37
2.7
5.6
6.4
5.2
6.8
3.4
5.7
-1.0
3O • December 1992
SURVEY OF CURRENT BUSINESS
Table 2.—Gross Domestic Product in Constant Dollars
[Billions of 1987 dollars; quarterly data are seasonally adjusted at annual rates]
Personal consumption expenditures
Year and
quarter
GDP
Total
Durable
goods
Nondurable
goods
Services
Gross private domestic investment
Total
Nonresidential
Residential
Net exports
CBI
Net
Government purchases
Exports
Imports
Total
Federal
State
and
local
Final
Gross
sales of domes- Gross
domes- tic pur- national
tic
chases product
product
821.8
554.5
48.1
238.5
267.9
152.8
100.6
41.6
10.6
1.9
36.0
34.1
112.6
21.9
90.7
8112
819.9
827.4
1930
1931
1932
1933
1934
748.9
691.3
599.7
587.1
632.6
520.0
501.0
456.6
447.4
461.1
38.1
32.4
24.5
24.4
27.8
2292
228.3
211.7
205.0
215.7
252.6
2402
220.4
218.1
217.6
1072
82.7
54.0
31.4
27.7
34.2
25.3
21.0
11.1
-.8
-.3
-5.8
30.1
27.0
22.0
22.9
23.4
122.0
125.5
120.5
116.1
131.4
24.4
24.9
25.9
30.9
40.0
97.6
12.7
29.8
24.7
19.6
19.9
22.3
749.7
699.1
617.3
597.3
638.4
749.1
693.7
602.1
5902
633.6
7542
695.5
603.0
589.9
634.8
1935
681.3
777.9
811.4
778.9
840.7
487.6
534.4
554.6
542.2
568.7
34.6
43.1
2262
252.4
262.8
266.6
279.7
226.8
238.9
246.6
239.4
246.4
42.4
57.9
69.1
51.3
56.5
17.5
22.0
23.8
24.0
33.9
10.0
13.6
-5.4
23.9
25.3
31.9
30.7
32.7
31.1
30.4
33.8
26.5
28.1
135.7
158.6
675.9
767.8
797.8
784.3
837.7
688.5
783.0
813.3
774.7
836.0
814.5
162.5
174.0
40.2
63.5
56.8
62.3
65.1
782.2
844.2
906.0
1,070.6
1,284.9
1,540.5
1,670.0
5952
629.3
628.7
647.3
6712
48.3
54.6
37.8
293.0
311.5
317.9
327.6
346.2
253.9
263.1
273.1
285.6
292.7
69.0
81.6
49.6
41.3
54.6
38.1
40.4
20.4
12.4
10.9
8.2
2.8
-11.1
-28.1
37.5
39.1
26.3
22.3
24.6
29.2
36.3
37.4
50.4
53.5
180.7
289.1
586.0
867.7
968.0
189.0
492.5
781.1
884.3
891.2
1,043.2
1,273.6
1,540.6
1,675.6
897.7
1,067.8
1,296.1
1,568.6
1,699.0
908.8
1,074.4
1,288.4
1,543.6
1,673.3
1,602.6
1,272.1
1,252.8
1,300.0
1,305.5
714.6
779.1
793.3
813.0
831.4
302.4
332.2
345.2
356.8
3622
82.6
78.5
114.9
131.5
136.0
122.1
12.8
52.5
67.0
80.1
74.3
-23.9
195.5
198.8
229.8
187.4
-8.7
28.0
80.1
377.3
391.7
382.3
384.0
389.2
.3
13.7
-9.1
26.5
41.9
16.6
17.3
32.8
66.7
79.1
60.7
59.9
56.7
40.2
37.1
44.1
42.5
829.4
271.0
218.8
240.6
269.3
742.9
175.4
110.7
126.3
139.8
108.1
114.3
129.5
1,611.4
1,244.1
1,252.5
1286.3
1,314.5
1,626.5
1,245.6
1,210.9
1,283.4
1,288.1
1,605.0
1,276.0
1,258.5
1,307.0
1,311.8
1,418.5
1,558.4
1,624.9
1,685.5
1,673.8
874.3
894.7
923.4
962.5
987.3
95.0
88.2
86.4
95.0
96.8
400.4
412.7
429.0
443.7
449.4
378.9
393.8
407.9
423.8
441.2
256.4
255.6
231.6
240.3
234.1
132.5
140.6
138.6
148.9
101.4
22.5
30.0
11.1
53.0
64.3
62.3
59.5
49.7
532
59.9
66.6
64.4
284.5
397.0
467.6
489.8
454.7
145.6
256.3
324.6
339.7
292.7
138.9
140.7
143.0
150.1
162.0
1,396.0
1,528.4
1,615.3
1,680.4
1,679.4
1,415.3
1,547.4
1,622.5
1,692.6
1,676.1
1,425.6
1,567.4
1,634.3
1,694.2
1,683.3
1,768.3
1,803.6
1,8382
1,829.1
1,047.0
1,078.7
1,104.4
1,122.2
1,178.9
114.8
470.5
486.0
495.5
500.0
518.5
461.7
483.5
500.2
519.7
546.0
284.8
282.2
266.9
245.7
296.4
160.5
171.2
172.1
154.3
165.2
1082
98.8
92.7
93.7
72.9
117.6
-2.3
13.6
441.7
444.0
465.3
476.0
475.3
268.7
264.8
276.1
272.0
265,7
173.0
179.2
189.2
204.0
209.6
1,752.2
1,791.5
1,836.1
1,831.4
1,915.2
1,773.5
1,804.8
1,836.6
1,843.9
1,950.6
1,779.0
1,815.5
1,850.9
1,839.7
1,939.6
1,970.8 1,210.8
2,023.8 1,238.4
2,128.1 1,293.3
2,215.6 1,341.9
2,340.6 1,417.2
115.4
109.4
526.9
537.7
553.0
563.6
588.2
568.5
591.3
620.0
648.0
688.3
290.8
289.4
343.3
371.8
173.3
172.1
185.0
192.3
214.0
109.4
110.1
120.6
135.0
142.1
15.6
16.0
15.7
101.8
115.4
105.5
107.7
112.9
476.9
501.5
5242
536.3
549.1
259.0
270.1
287.3
285.7
281.8
217.9
231.4
236.9
250.6
267.3
1,962.7 1,978.5 1,982.8
2,016.6 2,029.3 2,037.1
2,112.5 2,138.6 2,143.3
2,199.6 2,221.4 2,231.8
2,324.9 2,338.1 2,358.1
184.5
190.8
616.7
647.6
659.0
686.0
703.2
724.1
7602
796.2
837.0
877.2
413.0
438.0
418.6
440.1
461.3
250.6
276.7
270.8
280.1
296.4
137.3
124.5
120.2
136.4
140.1
25.1
36.7
27.6
23.6
24.8
118.1
125.7
130.0
140.2
147.8
124.5
143.7
153.7
177.7
189.2
566.9
622.4
667.9
686.8
682.0
282.1
319.3
350.9
353.1
340.1
284.8 2,445.4
303.1 2,579.5
317.0 2,657.5
333.7 2,773.2
341.9 2,8482
2,476.9 2,488.9
2,6342 2,6332
2,708.9 2,702.6
2,834.4 2,815.6
2,914,
2,890.9
2,873.9 1,813.5
2,955.9 1,873.7
3,107.1 1,978.4
3,268.6 2,066.7
3,248.1 2,053.8
183.7
201.4
225.2
246.6
2272
717.2
725.6
755.8
777.9
759.8
429.7
475.7
5322
591.7
543.0
292.0
286.8
311.6
357.4
356.5
131.8
168.1
198.0
196.6
155.6
20.8
22.5
37.7
30.9
-45.9
-56.5
-34.1
161.3
161.9
173.7
210.3
234.4
196.4
207.8
230.2
244.4
238.4
665.8
652.4
653.0
644.2
655.4
315.0
290.8
284.4
265.3
262.6
350.9 2,868.0
361.6 2,935.2
368.6 3,084.5
378.9 3,230.9
392.9 3,217.;
2,909.1 2,891
3,001.8 2,975.9
3,163.6 3,128.8
3,302.7 3,298.6
3,252.2 3,282.4
3,221.7
3,380.8
3,533.3
3,703.5
3,796.8
2,097.5
2,207.3
2,296.6
2,391.8
2,448.4
226.8
256.4
280.0
292.9
289.0
767.1
801.3
819.8
844.8
862.8
912.5
946.7
997.4
1,042.2
1,066.8
1,103.6
1,149.5
1,196.8
1,254.1
1,296.5
437.6
520.6
600.4
664.6
669.7
316.8
328.7
364.3
412.9
448.8
134.7
166.4
201.9
214.5
207.4
-13.9
23.1
-6.4
232.9
243.4
246.9
270.2
293.5
209.8
249.7
274.;
300.1
304.1
663.5
659.2
664.1
677.0
262.7
263.1
268.6
271.7
400.8
401.1
401.0
408.4
417.6
3,235.6
3,355.3
3,499.0
3,666.3
3,783.2
3,198.6
3,387.1
3,561.1
3,733.3
3,807.4
3,247.6
3,4122
3,569.0
3,739.0
3,845.3
3,776.3
3,843.1
3,760.3
3,906.6
4,148.5
2,447.1
2,476.9
2,503.7
2,619.4
2,746.1
262.7
264.6
262.5
297.7
338.5
860.5
867.9
8722
900.3
934.6
1,323.9
1,344.4
1,368.9
1,421.4
1,473.0
594.4
631.1
540.5
599.5
757.5
437.8
455.0
433.9
420.8
320.
490.
164.8
151.6
124.1
174.2
199.3
326.1
296.7
285.9
305.7
289.9
304.1
304.1
342.1
427.'
704.2
713.2
723.6
743.8
766.9
284.8
295.8
306.0
320.8
331.0
419.4
417.4
417.6
423.0
436.0
3,784.6
3,818.6
3,777.8
3,902.
4,080.6
3,745.;
3,821.;
3,767.;
3,962.8
4,270.5
3,823.4
3,884.4
3,796.1
3,939.6
4,174.
4,279.8
4,404.5
4,539.9
4,718.6
4,838.0
2,865.8
2,969.1
3,052.2
3,162.4
3,223.3
370.1
402.0
403.7
428.7
440.7
958.7
991.0
1,011.1
1,035.1
1,051.6
1,537.0
1,576.1
1,637.4
1,698.5
1,731.0
745.9
735.1
749.3
773.4
784.0
521.8
500.3
497.8
530.8
540.0
202.0
2262
225.2
222.7
214.2
22.1
-155.1
-143.1
-104.0
309.2
329.6
364.0
421.6
471.8
454.6
484.;
507.1
525.;
545.4
813.4
855.4
881.5
886.8
904.4
3552
373.0
384.9
377.3
376.1
458.2
482.4
496.6
509.6
528.3
4,257.6
4,395.9
4,513.7
4,698.6
4,808.3
4,425.1
4,559.6
4,683.0
4,822.6
4,911.:
4,295.0
4,413.5
4,544.5
4,726.3
4,852.7
4,877.5
4,821.0
3,260.4
3,240.8
439.3
414.7
1,056.5
1,042.4
1,764.6
1,783.7
739.1
661.1
538.1
5002
194.8
6.!
-9.3
-51.8
-21.8
510.0
539.4
561.8
561
929.9
941.0
4,929.3
4,842.8
4,895.9
4,836.4
1,239.5
1,2472
1255.0
1,269.5
784.0
796.8
796.7
795.7
632
64.1
65.0
70.7
377.1
385.1
386.2
381.0
343.7
347.6
345.5
344.0
194.9
189.3
191.7
219.1
133.8
131.3
129.6
131.4
61.6
58.4
67.4
80.6
-.5
-.4
43.1
43.
45,
35.4
80.1
82.9
37.0
39.0
35.4
37.2
217.
217.
803.3
811.6
814.5
822.6
70.9
70.5
73,1
74.3
381.8
385.7
381.9
386.6
350.6
355.5
359.5
361.6
227.0
232.6
232.7
226.9
137.8
79.5
24.1
15.7
14.2
12.4
65.6
59.1
60.1
57.
41.6
43.3
45.9
45.4
229.7
Ill "II
IV
1,284.0
1,295.7
1,303.8
1,316.4
1949:1
II ....
Ill
IV
1,305.3
1,302.0
1,312.6
1,301.9
823.9
834.3
831.3
836.2
732
362.
81.1
82.7
83.3
131.4
124.1
117.;
391.6
363.7
361.4
361.3
200.9
176.3
187.8
184.5
64.8
64.3
59.1
51.3
43.6
43.1
41.42.0
1950:1
II
Ill
IV
1,350.9
1,393.5
1,445.
848.8
865.0
899.3
884.3
396.1
400.0
406.7
398.8
367.2
378.4
383.;
386.5
222.6
245.7
264.2
293.3
118.6
129.6
50.7
42.8
51
45:
1936
1937
1938
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
2,470.5
2,616.2
2,685.2
2,796.9
2,873.0
1947:1 ..
II .
IV
1948:1
1951:1
IV
1952:1
II
1,497.0
1,573.8
1,622.4
1,707.5
1,771.2
452
362
42.6
342
32.2
34.8
552
65.7
722
1092
108.8
102.5
114.4
1202
130.3
140.7
1562
166.0
1672
85.5
86.6
108.9
99.0
387.
1,504.1
1,548.3
1,585.4
1,596.0
899.8
884.9
894.2
899.9
98.8
86.3
84.0
83.8
409.
1,607.7
1,612.1
1,621.9
1,657.8
903.4
919.'
925.4
945.2
85.7
88.
82.
89.7
672
25.0
26.6
41.1
652
89.9
106.4
69.9
93.4
121.8
149.4
81.4
53.5
59.8
3212
1462
9.1
85.0
83.4
86.3
93.5
1702
-7.8
-17.5
-10.2
5.4
3.0
14.7
27.4
11.3
-.1
9.6
5.1
-5.2
-1.2
2.1
8.1
7.2
5.9
25.5
34.3
372
13.6
-8.3
24.6
-17.5
4.4
67.9
8.5
26.3
19.9
29.8
-5.2
7.1
842
17.2
13.5
140.
141.4
1.6
-14.9
-21.8
-7.6
-5.5
-10.5
-5.8
2.5
-6.4
-18.0
-23.7
-37.5
-41.5
-352
-4.1
-27.8
-29.9
-10.6
30.7
22.0
-7.4
-56.1
-122.0
-16.5
-4.7
-14.8
10.8
13.9
15.9
49.4
405.7
415.1
420.4
391.5
392.9
395.2
395.8
264.9
270.1
252.6
234.9
137.0
140.8
143.6
141.1
97.4
84.2
78.8
79.5
30.5
45.1
30.3
14.3
417.4
426.7
433.1
438.8
4002
404.9
410.0
416.;
237.9
219.7
227.3
241.4
141.5
142.5
130.4
139.9
81.6
83.0
14.7
-5.9
14.5
14.9
823
2.3
16.1
12.1
81.5
75.4
102.1
107.7
102.5
3.2
-7.1
-2.3
134.0
138.0
93.3
4.2
4.6
-5.6
134.
1152
-7.2
-5.1
-1.9
-5.6
9.7
14.
68.7
74.8
84.0
-2.3
-2.4
-3.0
-1.0
7.9
6.3
-2.6
1.4
3.3
10.4
15.3
15.3
12;
5.9
-2 H
622
67.7
78.0
85.0
73.7
73.8
88.4
89.9
95.0
80.
72.5
792
83.4
88.5
95.6
96.1
95.3
1522
76.2
258.
100.7
94.6
85.2
91.4
95.6
95.1
95.4
100.2
108.9
104.5
100.2
93.5
86.7
83.7
86.5
95.6
684.1
780.0
112.6
110.0
111.9
108.3
104.9
107.1
109.4
111.2
1,240.0
1,247.6
1,260.2
1,262.4
1,196.4
1,203.3
1,209.7
1,234.1
1,244.
1,252.9
1,260.'
1,275.6
111.0
113.3
115.1
254.
118.;
122.4
127.3
136.8
1,274.3
1,281.5
1,286.6
1,302.8
1,259.9
1,280.0
1,289.6
1,303.9
1,290.9
1,302.9
1,310.9
1,323.5
2592
270.2
275.9
272.0
137.1
142.3
143.1
136.8
1222
1,305.6
1,318,
1,317.3
1,316.7
1,284.1
1,280.8
1,294.9
1,292.^
1,312.1
1,308.6
1,318.
1,307.6
271.5
276.6
284.3
305.5
133.7
137.7
145.1
165.9
139.2
139.6
1,340.1
1,379.6
1,429.2
1,435.1
1,343.0
1,387.3
1,447.;
1,483.'
1,357.0
1,400.
1,453.1
1,492.3
197.3
242.0
281
304.2
138.7
140.8
141.6
141.6
1,473.6
1,503.
1,555.2
1,581.7
1,500.;
1,537.9
1,570.2
1,580.7
1,511.2
1,557.
1,594.9
1,606.2
311
322.6
141.8
144.3
141.5
144.5
1,593.0
1,618.0
1,607.1,642.8
1,595.(
1,6062
1,6242
1,664.fi
1,617.3
1,621.8
1,631.3
1,666.8
221.3
219.4
235.
242.3
52.8
57.1
55.'
55.7
59.5
65.1
66.5
66.0
562
54.7
51.2
50.7
336.1
382.8
423.3
445.8
69.8
62.5
58.0
58.7
57.1
56.6
60.3
65.8
453.7
466.8
471.6
478.2
330.
333.7
117.
127.9
132:
1352
137.9
138.
Percent change from preceding
period
GDP
-8.9
-7.7
-13.3
-2.1
7.7
7.7
142
4.3
-4.0
7.9
7.8
18.2
20.0
19.9
8.4
-4.0
-20.6
-1.5
3.8
.4
8.7
9.9
4.3
3.7
-.7
5.6
2.0
1.9
-.5
5.5
2.2
2.7
52
4.1
5.6
5.5
5.9
2.6
4.2
2.7
0
2.9
5.1.
5.2
-.6
-.8
4.9
4.5
4.8
2.5
—5
1.8
-2.;
3.9
6.
3.
2.9
3.1
3.9
2.5
.8
-12
2,
2.5
4.'
4.7
3.'
2.5
3.9
-3.3
-1.0
3.3
-3.2
15.9
13.2
15.7
11.:
5.
12.3
10.0
2.7
3.0
1.2.5
Final
Gross
sales of domesdomes- tic purtic
chases
product
-7.6
-6.7
-11.7
-3.2
6.9
5.9
13.6
3.9
-1.7
6.8
6.4
17.1
22.1
21.0
8.8
-3.8
-22.8
.7
2.7
2.2
6.2
9.5
5.7
4.0
-.1
4.3
2.2
2.5
-.3
4.6
2.5
2.7
4.8
4.1
5.7
5.2
5.5
3.0
4.4
2.7
.7
2.3
5.1
4.7
-.4
.6
3.7
4,
4.8
3.2
0
.9
-1.1
3.3
4.6
4.3
3.
2.7
4.1
2.3
1.3
-.8
-8.6
-7.4
-13.2
-2.0
7.4
8.7
13.7
3.9
-4.7
7.9
7.4
18.9
21.4
21.0
8.3
-4.3
-23.4
-2.8
6.0
.4
9.9
9.3
4.9
4.3
-1.0
5.8
1.8
1.8
.4
5.8
1.4
2.6
5.4
3.9
5.3
5.9
6.4
2.8
4.6
2.8
-2
3.2
5.4
4.4
-1.5
-1.6
5.9
5.1
4.8
2.0
-1.6
2.0
-1.4
52
7.8
3.6
3.0
2.7
3.0
1.8
.4
-1.8
8.6
6.
3.0
4.5
-5.
-1.0
4.5
7.3
12.3
15.2
1.6
14.6
7.0
2.9
6.4
-2.6
9.1
16.5
13.9
18.6
10:
4.8
10.
3.
2.8
4.6
10.4
GNP
-8.9
-7.8
-13.3 ,
-2.2
7.6
7.8
14.0
4.4
-4.0
7.9
7.7
18.2
19.9
19.8
8.4
-4.1
-20.5
-1.4
3.9
.4
8.7
9.9
4.3
3.7
-.6
5.7
2.1
2.0
-.6
5.4
2.2
2.7
5.2
4.1
5.7
5.5
5.8
2.6
4.2
2.7
0
2.9
5..1
5.4
-,,5
-1.1
5.1
4.6
4.8
2.8
-.6
1.6
-2.3
3.8
6.0
2.9
2.8
3.0
4.0
2.7
.9
-12
2.6
2.5
4.8
4.9
3.8
2.5
3.9
-3.4
-1.0
3.2
-3.4
16.0
13.3
16.0
11.3
5.2
12.7
10.1
2.8
2.8
1.1
2.4
9.0
SURVEY OF CURRENT BUSINESS
December 1992
Table 2.—Gross Domestic Product in Constant Dollars—Continued
Personal consumption expenditures
Year and
quarter
GDP
Total
Durable Nondurable
goods
goods
Services
Net exports
Gross private domestic investment
Total
Nonresidential
Residential
88.0
88.2
84.9
842
CBI
Net
Government purchases
Exports
Imports
Total
Federal
State
and
local
Percent change from preceding
Final
Gross
sales of domesGross
domes- tic pur- national
tic
product
product chases
norinrl
puriuu
GDP
Final
Gross
sales of domesdomestic
chaPses
product
GNP
11.6
10.7
5.7
-7.8
-6.7
-9.1
-6.7
-6.0
58.4
58.9
61.4
59.4
65.0
68.0
68.1
65.4
488.9
494.4
490.2
485.6
341.4
346.9
3392
331.3
147.5
147.5
151.0
154.3
1,675.7
1,684.6
1,6822
1,679.0
1,694.0
1,704.4
1,694.6
1,677.2
1,6962
1,704.8
1,696.2
1,679.6
85.1
90.6
96.1
102.0
-5.2
-9.3
-6.6
-1.4
-5.0
-2.7
-1.5
.1
56.6
64.6
62.4
65.0
61.7
67.3
63.9
64.9
470.4
457.6
449.3
441.4
311.2
297.7
285.4
276.5
159.2
159.9
163.9
164.8
1,666.0
1,667.7
1,684.3
1,699.7
1,665.9
1,661.1
1,679.2
1,6982
1,669.9
1,667.5
1,686.9
1,708.8
-2.5
148.3
157.5
165.1
171.3
109.6
111.0
108.5
103.7
11.3
16.8
15.7
20.6
-1.0
-7.5
-5.2
-7.0
67.0
65.3
69.3
69.4
68.0
72.8
74.5
76.4
449.3
439.6
442.7
435.1
278.3
266.6
269.4
260.4
170.9
173.0
173.3
174.6
1,731.2
1,741.8
1,762.5
1,773.3
1,743.5
1,766.1
1,783.3
1,800.9
1,753.3
1,769.1
1,788.8
1,804.8
10.8
2862
283.9
281.6
277.0
169.0
170.9
173.4
171.5
100.7
100.0
98.0
96.6
16.5
12.9
102
8.9
-6.8
-2.7
-1.7
6.4
72.3
77.0
79.5
83.2
79.1
79.7
812
76.8
434.9
443.3
443.5
454.1
258.7
264.6
263.6
272.3
176.3
178.7
180.0
181.8
1,770.5
1,785.5
1,792.0
1,817.8
1,793.8
1,8012
1,803.9
1,820.3
1,799.2
1,810.6
1,814.6
1,837.4
-1.5
2722
269.3
273.8
252.3
172.3
1712
174.5
170.4
5.4
2.3
1.3
-2.6
-13.0
-16.3
-13.4
-16.8
88.7
86.3
84.0
81.0
72.7
73.2
74.0
74.6
83.3
84.0
82.7
83.6
85.8
89.5
87.4
91.4
461.7
462.9
468.7
467.8
466.5
476.9
476.3
484.1
276.1
275.7
278.8
273.8
267.8
274.9
270.5
274.9
1,831.5
1,829.5
1,843.4
1,840.1
1,831.0
1,832.5
1,849.9
1,833.1
1,849.3
1,848.8
1,864.6
1,841.0
159.5
153.1
149.9
154.8
4.9
5.3
7.8
-9.6
-13.3
-11.8
3.1
12.8
189.9
194.0
234.4
229.4
247.3
271.9
95.1
92.8
91.6
91.5
882
88.1
94.3
104.3
185.7
492.2
495.3
503.5
509.1
495.1
497.9
500.6
5072
508.0
517.9
525.3
527.5
198.8
202.0
205.9
2092
1,803.4
1,816.2
1,837.8
1,868.1
1,803.1
1,820.6
1,854.3
1,897.7
1,800.8
1,815.4
1,851.4
1,8912
117.6
112.0
514.9
516.9
519.9
522.4
532.7
542.4
550.6
5582
290.7
308.9
288.1
297.8
158.8
163.8
169.1
169.0
116.4
120.7
118.5
115.0
15.5
24.4
.5
13.9
-21.4
-25.0
-20.3
-20.5
70.9
72.0
77.5
74.7
92.3
97.0
97.8
95.3
476.1
478.2
474.9
471.9
266.4
268.4
265.0
262.8
209.7
209.8
210.0
209.1
1,889.4
1,913.1
1,930.3
1,928.0
1,926.3
1,962.5
1,951.1
1,962.4
1,915.1
1,947.7
1,941.8
1,953.6
1,201.7
1,216.4
1,210.8
1,214.1
114.5
117.6
116.2
113.2
5228
529.6
527.0
528.0
564.4
569.1
567.6
572.9
321.8
292.0
288.5
261.0
173.8
176.1
171.7
171.4
118.4
108.6
105.3
105.4
29.6
7.2
11.6
-15.9
-13.4
-10.4
-5.6
-12
84.9
88.3
90.5
902
98.3
98.7
96.1
91.4
466.8
473.7
479.9
4872
254.9
257.3
259.5
264.3
211.9
216.4
220.4
222.9
1,947.3
1,964.5
1,962.1
1,977.0
1,990.3
1,982.1
1,979.3
1,962.3
1,988.1
1,983.3
1,985.8
1,974.0
1,977.4
2,006.0
2,0352
2,076.5
1,218.1
1,235.6
1,238.8
1,261.0
106.7
109.3
114.4
532.1
537.7
536.9
543.9
579.3
590.6
592.6
602.7
266.4
279.9
302.4
308.9
169.0
171.0
171.8
176.8
105.9
106.3
1122
115.8
-8.5
2.6
18.5
16.3
-.9
-6.0
-6.7
-8.4
90.7
86.5
90.7
91.4
91.6
92.6
97.4
99.8
493.7
496.6
500.7
515.1
263.8
268.3
269.7
278.6
229.9 1,985.9 1,9782 1,991.1
228.3 2,003.5 2,012.0 2,018.9
231.0 2,016.7 2,041.9 2,048.4
236.5 2,060.2 2,084.9 2,090.1
3.4
5.9
6.0
8.4
1.8
3.6
2.7
8.9
3.3
7.0
6.1
8.7
3.5
5.7
6.0
8.4
IV
2,103.8
2,125.7
2,142.6
2,1402
1,273.5
1287.0
1,298.2
1,314.3
116.7
119.1
120.1
125.0
548.9
550.6
554.5
558.2
608.0
617.4
623.5
631.1
321.4
322.0
327.3
314.1
180.0
186.1
188.3
185.4
118.0
121.6
121.5
121.3
23.3
14.2
17.5
7.4
-11.9
-7.8
-8.9
-13.5
91.1
97.3
97.5
94.2
103.1
105.0
106.3
107.6
520.8
524.4
526.0
525.3
286.8
289.1
288.1
285.1
234.0
235.3
238.0
2402
2,080.5
2,111.5
2,125.2
2,132.8
2,115.7
2,133.5
2,151.5
2,153.7
2,117.3
2,140.6
2,157.7
2,157.6
5.4
4.2
32
-.4
4.0
6.1
2.6
1.4
6.0
3.4
3.4
.4
5.3
4.5
3.2
0
1963: 1
II
HI
IV
2,170.9
2,199.5
2237.6
2,254.5
1,322.5
1,332.3
1,350.7
1,362.0
127.3
129.7
131.3
133.0
561.0
561.8
565.4
566.1
634.2
640.8
654.1
663.0
330.8
339.5
349.3
353.5
183.7
189.7
195.1
200.7
125.8
135.0
137.5
141.6
21.3
14.9
16.7
11.2
-10.4
-5.2
-6.1
-1.6
94.4
102.1
103.4
107.3
104.8
107.3
109.5
109.0
528.1
532.9
543.6
540.6
283.4
285.9
290.0
283.4
244.7
247.0
253.6
257.1
2,149.6
2,184.6
2,220.9
2,243.3
2,181.3
2,204.7
2,243.6
2,256.1
2,187.4
2,215.3
2,253.6
2,271.0
5.9
5.4
7.1
3.1
32
6.7
6.8
4.1
5.2
4.4
7.2
22
5.6
52
7.1
3.1
1964: I
II
Ill
IV
2,311.1
2,329.9
2,357.4
2,364.0
1,388.0
1,409.3
1,433.8
1,437.6
137.8
140.6
144.8
139.4
575.7
584.9
595.9
596.3
674.5
683.7
693.2
701.9
372.1
367.9
371.3
376.0
2052
210.4
217.8
222.7
150.0
142.1
139.5
136.9
16.9
15.4
13.9
16.4
4.6
1.1
2.5
1.9
113.6
112.6
116.8
118.7
109.0
111.5
114.3
116.8
546.4
551.6
549.8
548.4
285.3
285.1
280.5
276.2
261.1
266.5
269.3
272.2
2,294.2 2,306.5 2,329.3
2,314.5 2,328.8 2,347.3
2,343.5 2,354.9 2,375.4
2,347.6 2,362.1 2,380.6
9.4
3.6
5.1
.7
9.2
3.9
4.6
1.2
1965: 1
||
III
IV
2,410.1
2,442.8
2,485.5
2,543.8
1,463.4
1,480.9
1,503.1
1,540.6
152.2
152.4
157.3
162.8
602.8
609.5
617.6
637.2
708.4
719.0
7282
740.7
407.6
407.5
418.1
418.9
236.4
245.9
255.0
265.0
1372
138.3
138.5
135.2
34.0
23.4
24.6
18.6
-7.5
-5.0
-7.8
-5.3
1052
121.0
119.0
127.1
112.7
125.9
126.8
132.4
546.6
559.3
572.1
589.6
272.3
277.8
282.7
295.8
274.4
281.5
289.5
293.8
2,376.1
2,419.4
2,460.9
2,525.1
2,417.6
2,447.7
2,493.3
2,549.1
2,429.1
2,462.5
2,503.8
2,560.3
8.0
5.5
7.2
9.7
9.7
5.1
7.7
9.3
8.4
5.6
6.9
9.3
1966: 1
2,596.8
2,601.4
2,626.1
2,640.5
1,559.6
1,566.1
1,582.0
1,587.6
169.9
162.0
166.3
166.0
641.9
6472
651.7
649.4
747.9
756.9
764.0
7722
449.5
435.9
435.1
431.4
275.0
276.8
279.2
275.8
86
.7
3.9
2.2
96
1.4
4.9
2.0
8.6
.7
3.7
2.3
411.7
406.1
424.9
431.8
271.0
269.7
268.8
273.4
665.8
663.2
668.7
673.9
301.1
315.3
328.5
332.3
351.8
347.7
352.0
352.2
26138
2,618.5
2,642.7
2,657.8
781.9
791.8
802.5
808.6
136.5
140.3
148.3
149.6
151.6
150.6
151.8
161.0
2,608 1
2,617.4
2,648.9
2,6622
655.4
659.0
658.8
662.7
125.2
124.3
125.5
127.9
131.0
129.5
128.3
131.3
2,560.7
2,569.3
2,593.2
2,594.8
162.8
170.0
168.1
167.8
-11.4
-16.0
-22.8
-21.7
-20.5
-21.1
-23.5
-29.7
297.9
3002
303.3
310.9
1,600.2
1,620.8
1,629.4
1,639.0
36.1
32.1
32.9
45.7
34.3
17.8
31.6
26.8
599.0
615.4
631.8
6432
2,6572
2,669.0
2,699.5
2,715.1
138.4
127.0
122.9
109.9
106.4
118.6
124.4
131.6
313.9
315.5
316.7
321.7
2,622.9
2,6512
2,667.9
2,688.3
2,677.7
2,690.1
2,723.0
2,744.8
2,674.2
2,685.5
2,717.9
2,732.8
2.6
1.8
4.6
2.3
4.9
7.5
7.0
10.9
58
1.4
3.8
2
4.4
4.4
2.5
3.1
2.3
1.9
5.0
32
2.5
1.7
4.9
22
1968: 1
II
III
IV
2,752.1
2,796.9
2,816.8
2,821.7
1,672.9
1,696.8
1,7252
1,735.0
178.2
182.0
189.4
188.5
675.5
683.0
692.9
692.7
8192
831.9
842.9
853.8
433.0
447.0
442.3
438.0
280.9
275.5
277.7
286.4
132.2
135.6
138.1
139.6
20.0
36.0
26.5
12.1
-36.8
-35.7
-37.4
-40.1
134.2
137.6
1462
142.9
170.9
173.2
183.6
183.1
682.9
688.7
686.7
688.8
356.4
355.9
350.3
349.7
326.5 2,732.1
332.8 2,760.9
336.4 2,790.3
339.1 2,809.6
2,788.8
2,832.6
2,854.2
2,861.8
2,770.3
2,815.6
2,836.0
2,840.6
5.6
6.7
2.9
.7
6.7
4.3
4.3
2.8
6.6
6.4
3.1
1.1
5.6
6.7
2.9
.7
1969: 1
II
Ill
IV
2,864.6
2,867.8
2,884.5
2,875.1
1,754.7
1,765.1
1,775.0
1,790.1
192.0
190.9
190.6
189.7
698.7
702.3
703.8
708.0
863.9
871.8
880.6
892.4
466.2
460.6
471.0
447.4
293.1
293.8
300.9
297.7
144.3
1432
141.9
131.3
28.9
23.7
28.2
18.5
-38.9
-44.1
-43.3
-39.8
128.4
154.5
153.1
155.0
167.3
198.6
196.3
194.8
682.6
686.3
681.7
677.3
342.2
343.5
339.3
335.4
340.4
342.7
342.4
342.0
2,835.8
2,844.1
2,856.3
2,856.6
2,903.5
2,912.0
2,927.7
2,914.8
2,883.6
2,886.0
2,901.7
2,892.2
62
.4
2.3
3.8
1.2
1.7
0
6.0
12
22
6.2
.3
2.2
1970; I
2,867.8
2,859.5
2,895.0
2,873.3
1,800.5
1,807.5
1,824.7
1,821.2
185.2
187.3
174.2
714.6
714.0
718.0
722.3
900.7
9062
918.5
924.7
431.8
423.6
439.4
424.1
294.9
292.5
295.5
284.9
131.9
122.8
129.5
143.2
5.1
8.4
14.4
-4.0
-36.0
-33.9
-34.4
-36.4
157.3
163.3
161.3
1632
193.3
197.1
195.7
199.6
671.5
6622
665.3
664.4
326.3
315.1
310.9
307.5
345.2
347.1
354.3
356.9
2,862.8
2,851.1
2,880.6
2,877.3
2,903.8
2,893.4
2,929.4
2,909.7
2,885.5
2,877.9
2,913.0
2,889.7
2,939.9
2,9442
2,962.3
2,977.3
1,849.9
1,863.5
1,876.9
1,904.6
193.0
197.8
203.3
211.5
724.0
724.9
724.2
729.4
932.9
940.8
949.4
963.7
467.8
476.2
482.0
476.8
284.9
2862
285.8
290.3
151.1
166.1
1742
181.0
31.9
23.8
21.9
5.4
-34.0
-48.8
-47.0
-53.8
162.5
162.7
171.0
151.4
196.5
211.5
218.0
2052
656.1
653.3
650.4
649.7
297.7
292.7
289.3
283.6
358.4
360.7
361.1
366.1
2,908.0
2,920.5
2,940.3
2,971.8
2,973.8
2,993.0
3,009.3
3,031.1
2,959.7
2,965.4
2,981.2
2,997.4
9.6
.6
2.5
2.0
4.3
1.7
2.7
4.4
9.1
2.6
2.2
2.9
3,037.3 1,929.3
3,089.7 1,963.3
3,125.8 1,989.1
3,175.5 2,032.1
215.9
220.9
225.7
238.3
734.9
752.7
761.7
774.0
978.5
989.6
1,001.6
1,019.8
511.3
527.4
542.1
547.8
299.7
306.1
311.4
329.1
193.1
197.1
197.6
2042
18.4
24.2
33.1
14.4
-612
-57.0
-53.9
-54.0
169.5
166.5
173.9
185.0
230.7
2235
227.8
239.0
657.9
656.0
648.5
649.5
290.7
290.6
280.3
275.8
3672
365.4
3682
373.7
3,018.9
3,065.5
3,092.7
3,161.0
3,098.5 3,058.4
3,146.7 3,110.5
3,179.7 3,148.4
3,229.4 3,197.8
8.3
7.1
4.8
6.5
6.5
6.3
3.6
9.1
9.2
6.4
4.3
6.4
3,253.3
3,267.6
3,264.3
3,289.1
253.4
2482
245.9
239.0
780.7
773.7
780.5
776.7
1,029.7
1,040.1
1,047.3
1,051.6
586.8
596.3
580.0
603.6
344.3
357.7
363.1
364.3
211.2
200.5
192.1
182.6
31.3
38.1
24.8
56.7
-49.7
-36.6
-26.1
-23.9
200.7
209.2
212.4
219.0
250.3
245.9
238.5
242.9
652.3
645.9
636.8
642.0
276.9
270.0
256.8
257.7
375.3
375.9
380.0
3842
3,222.0
3,229.5
3,239.6
3,232.4
3,303.0 3,279.4
3,3042 3,295.6
3,290.4 3,2972
3,313.0 3,322.1
102
1.8
-.4
3.1
7.9
.9
1.3
-.9
1953: 1
II
Ill
IV
1,687.3
1,695.3
1,687.9
1,671.2
958.0
963.4
9632
965.3
94.9
93.3
93.5
98.1
444.0
445.2
442.5
443.0
4192
424.9
427.1
424.1
247.1
246.6
241.2
226.3
147.5
147.7
150.5
149.8
1954: 1
II
1,660.8
1,658.4
1,677.7
1,698.3
969.1
976.9
992.9
1,010.4
94.2
94.0
96.3
445.9
444.1
4502
457.4
429.1
438.8
446.4
450.3
226.3
226.5
237.0
246.4
146.3
145.2
147.5
145.8
1,025.1
1,041.3
1,051.3
1,070.2
108.2
IV
1,742.5
1,758.6
1,7782
1,793.9
460.5
467.8
472.0
481.6
456.4
458.3
461.7
470.5
269.1
285.2
289.3
295.6
1956: I
II
Ill . ...
IV
1,787.0
1,798.5
1,8022
1,826.6
1,072.7
1,074.0
1,078.8
1,0892
1112
109.2
108.5
108.1
486.5
484.6
484.6
488.2
475.0
4802
485.7
492.9
1957: 1
II
Ill
IV
1,836.4
1,834.8
1,8512
1,830.5
1,097.1
1,100.3
1,107.4
1,113.0
111.6
109.3
106.8
107.5
490.4
493.1
500.0
498.3
1958: 1
||
Ill
IV
1,790.1
1,804.4
1,840.9
1,880.9
1,1022
1,114.3
1,130.6
1,141.7
102.0
1959: I
III
IV
1,904.9
1,937.5
1,930.8
1,941.9
1,159.5
1,175.5
1,188.0
1,192.7
1960: 1
II
Ill
IV
1,976.9
1,971.7
1,973.7
1,961.1
1961:1
II
Ill
IV
1962: 1
iii "!.'""."
IV
1955: |
II
Ill
||
II
ill ".I!".".!'.
HI
IV
1967: 1
II
Ill
IV
HI
IV
1971: |
II
HI ..."
IV
1972; |
II
Ill
IV
1973: 1
H
III
IV
.'.
2,063.9
2,062.0
2,073.7
2,067.4
102.7
1152
117.6
118.2
1012
101.7
105.1
111.9'
1162
1072
1882
1872
7.3
1.9
-1.7
-3.9
-.6
4.7
5.0
3.8
4.5
3.6
2.6
.8
5.5
22
-.4
3.6
-4.4
-8.5
32
8.3
9.0
5.2
7.0
-1.4
2.3
7.4
-1.0
.4
-2.5
10.4
3.3
4.8
.1.1
-1.3
-1.0
-12
5.1
-3.0
8.2
2.1
-.6
-.8
-3.1
.4
4.0
3.7
7.2
2.5
-2.3
-4.0
-2.0
-3.9
-2.7
-1.1
-2.3
4.4
4.6
7.6
2.5
4.8
2.5
11.1
-.6
3.4
1.4
5.9
-1.6
3.1
-.5
3.1
-.7
-7.7
2.9
4.8
6.8
4.6
5.1
3.6
-.5
4.1
3.6
-.5
3.1
.9
-1.6
42
-.5
72
2.0
5.3
4.0
4.0
-.6
4.7
5.3
10.8
3.7
4.5
3.6
-1.2
1.7
.6
3.7
2.5
.9
5.1
2.4
.3
3.9
2.6
-.1
3.5
-3.6
-5.0
-6.4
-8.4
3.9
7.6
9.7
6.2
7.7
-2.3
2.3
5.8
-1.6
3.3
8.2
8.9
52
7.0
-1.2
2.5
7.3
-1.0
.5
-.6
-3.4
-2.4
10.7
3.1
4.9
.9
-1.8
-1.3
-1.5
-1.4
-1.0
5.1
-2.7
9.4
.1
-1.7
2.8
-.9
5.0
-32
10.0
.8
2.1
2.2
8.4
7.0
5.0
6.4
10.6
2.0
2
3.1
SURVEY OF CURRENT BUSINESS
32 • December 1992
Table 2.—Gross Domestic Product in Constant Dollars—Continued
[Billions of 1987 dollars; quarterly data are seasonally adjusted at annual rates]
Personal consumption expenditures
Year and
quarter
GDP
Total
Durable
goods
Nondurable
goods
Services
Net exports
Gross private domestic investment
Total
residential
Residential
Non-
CBI
1974: 1
II . .
Ill ... .
IV
3,259.4 2,050.8
3,267.6 2,059.0
3239.1 2,065.5
3,226.4 2,039.9
230.9
233.5
235.3
209.1
766.3
761.2
760.7
750.9
1,053.6
1,064.3
1,069.5
1,079.9
565.1
554.6
528.5
523.7
364.0
363.3
354.9
343.7
169.3
161.5
156.0
135.6
31.9
29.8
17.6
44.4
1975: 1
II
Ill
IV
3,154.0 2,051.8
3,190.4 2,086.9
3249.9 2,114.4
3,292.5 2,137.0
214.6
218.5
233.3
240.7
752.1
767.1
773.5
775.6
1,085.0
1,101.3
1,107.6
1,120.6
419.8
411.3
451.7
467.7
320.7
312.4
315.5
318.5
127.0
129.4
-28.0
-30.6
1382
-2.0
1976: |
II
Ill
IV
3,356.7
3,3692
3,381.0
3,416.3
2,179.3
2,194.7
2,213.0
2,242.0
254.0
254.4
2562
261.0
789.2
799.3
805.2
811.6
1,136.1
1,141.0
1,151.6
1,169.4
509.4
521.8
159.0
163.6
532.1
323.6
324.9
330.8
335.7
1977: 1
||
III .. ..
IV
3,466.4
3,525.0
3,574.4
3,5672
2271.3
2,280.8
2,302.6
2,331.6
272.3
278.1
282.1
287.3
817.8
815.7
816.7
829.2
1,1812
1,187.0
1203.8
1215.1
563.6
602.7
628.3
607.1
351.6
360.5
366.6
378.5
1978: 1
II
Ill
IV
3,591.8
3,707.0
3,735.6
3,779.6
2,347.1
2,394.0
2,404.5
2,421.6
279.0
300.4
295.2
297.0
833.5
840.9
848.0
856.9
1,234.6
1252.8
1,261.3
1,267.7
625.4
663.6
676.2
693.1
383.1
411.0
423.0
434.3
206.3
215.6
217.9
1979' I
II
Ill
IV
3,780.8
3,784.3
3,807.5
3,814.6
2,437.9
2,435.4
2,454.7
2,465.4
293.8
285.9
292.4
283.8
860.5
856.6
863.5
870.8
1,283.6
1,292.8
1,298.7
1,310.9
679.0
682.3
666.5
651.1
444.1
442.9
454.7
453.4
2132
1980: 1
II
Ill
IV
3,830.8
3,732.6
3,733.5
3,808.5
2,464.6
2,414.2
2,440.3
2,469.2
279.7
246.3
258.4
266.6
869.2
857.4
855.3
859.9
1,315.6
1,310.4
1,326.6
1,342.8
650.4
577.5
544.3
605.5
457.7
430.7
428.2
434.7
185.6
150.4
153.4
170.0
1981:1
II
274.4
262.6
271.3
250.0
867.3
868.6
867.9
868.1
1,333.8
1,344.9
1,348.2
1,350.6
643.8
627.0
644.5
609.1
444.9
450.9
461.6
462.5
1662
iv
3,860.5 2,475.5
3,844.4 2,476.1
3,864.5 2,487.4
3,803.1 2,468.6
1982: 1
||
HI
IV
3,756.1 2,484.0
3,771.1 2,488.9
3,754.4 2,502.5
3,759.6 2,539.3
259.3
258.6
260.0
272.3
867.6
867.7
872.7
880.7
1,357.1
1,362.6
1,369.8
1,3862
553.9
559.5
545.0
503.5
453.6
440.1
424.8
417.2
124.8
120.8
119.5
1983: 1
II
Ill
IV
3,783.5
3,886.5
3,944.4
4,012.1
2,556.5
2,604.0
2,639.0
2,678.2
274.3
294.0
303.3
319.1
885.2
893.8
907.1
915.2
1,396.9
1,416.1
1,428.6
1,443.9
519.7
588.0
620.8
669.5
403.1
407.6
423.0
449.6
150.1
170.5
185.7
190.6
-33.5
9.9
1984: 1
II
III
IV
4,089.5
4,144.0
4,166.4
4,1942
2,703.8
2,741.1
2,754.6
2,784.8
329.6
339.0
337.6
347.7
920.6
936.2
938.5
942.9
1,453.6
1,465.8
1,478.6
1,4942
739.9
463.7
4872
500.4
509.6
1985: 1
II .. .
Ill
IV
4,221.8
4,254.8
4,309.0
4,333.5
2,824.9
2,849.7
2,893.3
2,895.3
360.1
364.4
386.4
369.6
949.2
955.6
961.3
968.7
1,515.5
1,529.8
1,545.6
1,557.1
732.6
748.4
739.6
763.1
518.8
525.8
1986: 1
II
HI
IV
4,390.5
4,387.7
4,412.6
4,427.1
2,922.4
2,947.9
2,993.7
3,012.5
378.9
3902
423.1
415.7
980.8
9902
992.3
1,000.9
1,562.8
1,567.5
1,578.3
1,595.8
776.4
746.3
711.7
705.9
5132
1987: 1
4,460.0
4,515.3
4,559.3
4,625.5
3,011.5
3,046.8
3,075.8
3,074.7
389.4
403.1
417.7
404.7
1,005.6
1,011.3
1,012.9
1,014.6
1,616.5
1,632.4
1,6452
1,655.5
IV
4,655.3
4,704.8
4,734.5
4,779.7
3,128.2
3,147.8
3,170.6
3,202.9
425.1
426.9
423.8
439.2
1,023.5
1,031.0
1,039.3
1,046.8
1989: 1
II
III
IV
4,817.6
4,839.0
4,839.0
4,856.7
3,203.6
3,212.2
3,235.3
3242.0
4352
440.2
450.6
436.8
1990: 1
II
Ill
IV
4,890.8
4,902.7
4,882.6
4,833.8
3259.5
3,260.1
3,273.9
3,248.0
1991:1
II
III " ".
IV
4,796.7 32235
4,817.1 3,239.3
4,831.8 3,251.2
4,838.5 3,249.0
111 !!..!....
HI
IV
1988: 1
II
ill .'!..'
1992: 1
4,873.7
II
4,892.4
III 'ZI 4,933.7
3,289.3
3288.5
3,318.4
Imports
-5.3
-4.5
-92
2.6
229.0
240.2
230.4
237.8
234.3
244.7
239.6
235.1
648.8
658.6
6542
660.1
264.0
260.1
266.2
23.3
32.7
18.4
233.9
227.7
229.7
240.2
210.7
195.0
211.4
222.0
659.2
659.5
665.4
669.7
238.9
239.9
246.4
248.4
236.0
246.1
254.7
262.1
244.0
250.8
250.5
242.1
Total
Federal
260.0
State
and
local
Final
sales of
domestic
product
~
vjiOSS
Gross
domes- national
tic pur- product
chases
Final
Gross
sales of domesdomes- tic purtic
product chases
GDP
388.8 3,227.6 3,264.7 3,298.4
394.6 3,237.8 3,272.1 3,304.3
-3.6
-3.4
-1.6
-8.7
1.0
-.6
1.3
-5.7
-2.9
-3.0
-3.8
-2.1
0
5.0
3.9
-11.0
3.5
9.7
-9.2
4.5
5.4
.9
3,221.4
3,182.0
3,248.3
3,223.7
3,272.2
3,254.6
262.0
261.5
262.6
264.6
397.1
398.0
402.8
405.1
3,181.9
3,221.0
3,251.8
3,287.7
3,130.7
3,157.7
3,231.5
3,274.4
3,177.3
3,213.9
3,275.5
3,323.6
665.1
658.9
657.0
655.9
258.6
258.1
257.7
2582
406.5
400.8
399.3
397.7
3,329.8
3,335.9
3,353.7
3,401.6
3,353.8
3,375.4
3,389.3
3,430.0
3,386.8
3,400.5
3,412.7
3,448.9
8.0
1.5
1.4
4.2
52
.7
22
5.8
271.8
276.0
273.0
277.9
659.2
666.7
666.0
664.3
259.4
264.2
264.3
264.3
399.9
402.5
401.7
400.0
3,441.5
3,490.7
3,520.4
3,543.4
3,494.1
3,5502
3,596.9
3,603.0
3,503.9
3,561.7
3,610.8
3,599.3
6.0
6.9
5.7
-.8
4.8
5.8
3.4
2.6
7.7
6.6
5.4
.7
248.7
271.6
274.5
286.0
295.6
298.1
301.4
3052
666.1
675.9
681.8
684.1
263.5
270.4
270.3
270.1
402.6
405.4
411.5
414.0
3,555.8
3,670.1
3,700.3
3,739.0
3,638.6
3,733.5
3,762.5
3,798.8
3,629.1
3,737.9
3,769.8
3,819.3
2.8
1.4
4.0
286.5
284.9
292.9
309.9
303.8
305.3
300.2
307.1
681.2
687.0
693.6
695.3
270.4
269.9
273.5
272.9
410.8
417.1
420.1
422.4
3,759.1
3,754.6
3,802.5
3,816.7
3,798.1
3,804.7
3,814.8
3,811.9
3,821.2
3,829.8
3,862.0
3,868.3
319.6
323.0
320.1
319.5
308.5
290.0
273.1
287.9
704.7
707.9
701.9
7022
281.0
2882
285.6
284.4
423.7
419.7
-37.2
.8
11.1
33.1
47.0
31.5
417.8
3,823.7
3,7362
3,770.7
3,807.7
3,819.7
3,699.5
3,686.5
3,776.9
3,884.6
3,782.3
3,780.5
3,846.2
32.6
15.8
35.7
14.1
29.0
27.9
20.9
10.0
328.1
332.0
323.3
321.1
299.0
304.1
302.3
311.1
712.2
713.4
711.7
715.5
290.6
297.3
297.5
297.9
421.6
416.2
414.2
417.5
3,827.9 3,831.5
3,828.6 3,816.5
3,828.8 3,843.6
3,789.0 3,793.1
3,901.6
3,882.8
3,904.9
3,848.5
3.5
3.5
-17.7
-19.0
306.1
306.5
293.9
280.4
302.6
302.9
311.5
299.4
714.7
719.2
724.6
735.9
299.5
301.6
307.0
316.0
415.2
417.6
417.6
419.9
3,780.6
3,772.6
3,753.7
3,804.5
3,752.6
3,767.6
3,772.1
3,778.6
3,793.0
3,810.3
3,789.4
3,791.7
12.1
29.3
-28.0
-45.9
-67.0
-83.7
282.5
283.7
286.1
291.5
310.5
329.5
353.1
375.1
735.3
740.4
751.5
748.1
315.5
319.2
326.3
322.2
419.8
421.2
425.3
425.9
3,817.0 3,811.5
3,876.6 3,932.3
3,932.3 4,011.4
3,982.8 4,095.8
3,816.5
3,916.7
3,978.8
4,046.6
196.4
202.4
199.7
198.8
79.9
71.0
73.0
47.9
-108.4
-121.0
-1272
-131.4
298.0
303.9
308.2
312.8
406.3
424.9
435.4
444.2
754.1
763.3
766.0
784.3
323.8
329.6
328.7
341.7
430.4
433.7
437.3
442.6
4,009.6 4,197.9
4,073.1 4,265.0
4,093.5 4,293.6
4,1462 4,325.5
199.0
198.9
202.7
207.4
14.8
23.7
19.8
30.2
-127.1
-1492
-149.6
-155.4
310.9
309.8
304.3
312.0
438.1
459.0
454.0
467.4
791.5
805.8
825.7
830.5
343.4
350.0
363.5
363.7
448.1
455.8
4622
466.7
4,207.1
4,231.0
4289.2
4,303.3
215.0
228.0
231.3
230.5
48.1
500.1
492.5
495.5
182
-12.0
-20.1
-143.1
-157.1
-164.3
-156.0
320.9
323.9
330.6
342.9
464.0
480.9
494.9
498.9
834.9
850.6
871.6
864.8
359.4
369.7
385.5
377.5
475.4
480.9
486.0
487.3
729.3
735.7
738.4
793.8
481.1
490.7
508.6
510.6
225.7
227.7
224.3
223.3
-150.0
-146.3
-139.8
-136.0
342.1
356.5
371.5
386.1
492.1
502.7
511.3
522.1
869.1
879.0
884.9
893.0
376.8
384.5
386.8
391.6
1,679.6
1,690.0
1,707.5
1,716.9
756.9
769.4
782.2
785.0
517.7
531.4
535.2
538.8
220.0
222.0
223.5
225.3
16.1
23.5
20.9
-113.4
-98.1
-101.9
-102.7
407.1
417.2
424.1
4382
520.5
515.2
526.1
540.9
883.7
885.6
883.7
894.5
1,048.1
1,047.0
1,052.6
1,058.9
1,720.3
1,725.1
1,7322
1,746.3
802.9
794.5
769.0
769.5
539.5
542.2
541.8
536.7
2222
215.4
211.2
208.0
41.2
36.9
16.0
24.9
-79.8
-70.0
-77.5
-67.4
454.5
472.0
472.9
487.7
534.3
541.9
550.5
555.0
453.5
439.2
437.7
426.6
1,058.3
1,057.1
1,059.1
1,051.6
1,747.7
1,763.7
1,777.1
1,769.8
763.0
770.2
743.1
680.0
544.8
535.6
542.9
529.3
210.7
201.8
189.1
177.5
112
-26.8
-58.4
-56.9
-59.3
-32.7
500.2
508.7
508.4
522.6
412.0
411.3
419.4
416.1
1,043.0
1,046.3
1,044.8
1,035.6
1,768.5
1,781.8
1,787.0
1,797.4
646.0
649.5
672.0
676.9
507.0
503.0
498.7
492.1
164.1
166.9
172.6
177.3
-25.1
-20.4
.6
7.5
-17.9
-17.4
-31.6
-20.5
432.3
430.0
439.8
1,049.6
1,045.6
1,052.0
1,807.3
1,812.9
1^26.6
668.9
713.6
724.9
495.8
514.7
518.7
185.6
191.2
191.3
-12.6
7.8
-21.5
-43.9
-52.7
5192
760:£
773.1
756.4
5172
525.5
4.9
182
2.8
-62
181.8
26.9
33.3
27.2
14.7
187.1
207.9
207.7
204.8
24.9
34.3
54.0
23.8
-27.8
-25.2
36.0
36.9
35.3
40.6
-46.8
-26.5
-26.9
21.7
29.7
-17.3
-20.4
144.3
1612
2182
209.8
206.7
199.7
160.2
147.3
132.5
1312
5.0
-2.0
7.1
-3.6
-24.4
-1.5
.7
-44.9
22.5
17.3
5.4
59.9
192
7.5
32.8
15.0
-8.3
-13.7
-225
-35.9
-192
-7.3
2.8
4162
4.7
7.7
5.3
13.5
GNP
-2.0
-4.8
394.1
393.9
NOTE.-GDP Gross domestic product; CBI Change in business inventories; GNP Gross national product
Exports
Net
Percent change from preceding
oeriod
Government purchases
13.5
10.1
2.6
1.7
4.9
10.8
-2.8
.7
4.7
7.9
6.0
7.8
1.6
1.4
4.3
6.5
6.8
5.6
-1.3
3.4
12.5
3.1
4.8
3.3
42
3.1
3.9
3.5
5.4
.1
.4
2.5
.7
22
-.5
52
1.5
-.1
.7
1.1
-.3
.2
.9
3.4
.7
.7
.8
-12.0
1.7
-10.1
-2
7.1
1.7
-8.8
-9.9
.1
8.3
3.7
4.0
5.6
2.1
.1
0
-1.7
2.1
-6.2
-4.9
1.6
-1.8
-4.1
-.9
-.8
-2.0
.6
5.5
2.6
6.1
7.0
1-3
6.4
5.9
5.2
4,119.1
4,169.4
4,193.0
4,216.4
7.9
5.4
2.2
2.7
2.7
6.5
2.0
5.2
4,349.0
4,404.0
4,458.6
4,488.9
4,238.1
4,270.5
4,321.8
4,349.5
2.7
32
5.2
2.3
4,342.4
4,369.5
4,424.7
4,447.2
4,533.6
4,544.7
4,577.0
4,583.1
4,406.4
4,394.6
4,422.3
4,430.8
492.3
494.6
498.1
501.4
4,437.5
4,497.9
4,553.9
4,565.6
4,610.0
4,661.6
4,699.1
4,761.5
379.7
377.2
373.7
378.4
503.9
508.3
510.0
516.1
890.8
902.3
912.2
912.6
370.1
376.9
381.5
376.1
520.7
525.4
530.7
536.5
558.6
565.6
567.7
555.3
926.8
929.4
924.8
938.5
515.9
536.1
544.2
561.4
533.8
553.5
575.8
581.8
565.4
563.4
575.9
586.8
607.3
628.6
11.3
-1.4
102
5.9
5.9
-1.6
-1.9
2.9
-52
-5.7
-4.2
1.6
.5
.7
3.5
13.3
8.3
8.7
2.3
-5.6
-1,8
-22
.2
2.6
10,9
6.5
7.0
6.5
2.7
3.0
7.4
5.0
2.3
2.3
6.0
2.3
5.6
1.3
22
5.2
5.1
2.7
2.1
3.1
4.9
2.6
5.4
-.3
2.3
1.3
3.7
2.5
5.1
2.0
4.0
1.0
2.9
.5
4,463.9
4,517.8
4,563.6
4,633.0
3.0
5.1
4.0
5.9
-.9
5.6
5.1
1.0
2.4
4.6
3.3
5.4
3.0
4.9
4.1
6.2
4,636.2 4,768.7
4,688.7 4,802.8
4,710.9 4,836.4
4,758.7 4,882.4
4,667.1
4,710.3
4,738.7
4,789.0
2.6
4.3
2.5
3.9
6.3
4.6
1.9
4.1
.6
2.9
2.8
3.9
3.0
3.8
2.4
4.3
4,776.3 4,897.3
4,802.0 4,908.9
4,823.0 4,916.5
4,831.8 4,924.1
4,830.7
4,851.6
4,853.4
4,875.1
32
1.8
0
1.5
1.5
2.2
1.8
.7
12
1.0
.6
.6
3.5
1.7
.1
1.8
383.4
385.4
378.3
387.3
543.4 4,883.3 4,949.2
544.0 4,870.0 4,959.7
546.5 4,871.4 4,941.9
551.2 4,860.6 4,866.5
4,907.8
4,915.5
4,898.9
4,861.4
945.1
945.6
940.2
933.1
394.1
393.8
387.2
378.2
551.0
551.8
553.0
554.9
4,821.8
4,837.4
4,831.2
4,830.9
937.0
934.2
943.0
375.3
372.7
379.5
561.8
561.5
563.5
4,886.3 4,8952 4,890.7
4,884.6 4,936.3 4,899.1
4,918.7 4,986.4 4,945.6
4,814.6
4,834.4
4,863.4
4,858.9
4,822.0
4,831.8
4,843.7
4,848.2
2.8
1.0
-1.6
-3.9
4.3
-1.1
.1
-.9
10.4
2.1
.9
5.3
-1.1
2.5
.8
2.7
.6
-1.4
-6.0
-1.3
-3.0
-4.2
1.7
1.2
.6
1.3
-.5
0
1.7
2.4
-.4
-32
.8
1.0
.4
2.9
1.5
3.4
4.7
-.1
2.8
3.0
3.4
4.1
3.6
.7
3.9
-3.0
-3.2
December 1992
SURVEY OF CURRENT BUSINESS
• 33
Table 3.—Price Indexes and the Gross Domestic Product Implicit Price Deflator
[Index numbers, 1987=100; quarterly data are seasonally adjusted]
Fixed-weighted price indexes
Personal consumption expenditures
Year and
quarter
GDP
Total
. .
1959
Durable
goods
Nondurable goods
Percent change from
preceding period
Fixed investment
Services
Total
Government purchases
Exports
Non-
residential
Imports
Residential
Total
Federal
Gross dopurState and mestic
chases
local
30.4
54.4
31.4
23.9
25.0
24.6
28.6
21.5
25.6
30.8
31.1
31.3
31.6
31.9
54.1
53.8
53.4
53.1
53.1
31.8
32.0
32.1
32.5
32.8
24.5
25.0
25.3
25.7
26.1
25.1
25.1
25.0
24.7
24.9
25.1
25.5
26.3
26.8
27.3
29.0
29.3
30.0
30.6
31.3
22.1
22.5
23.4
23.8
24.2
26.0
26.3
26.9
1965
1966
1967
1968
1969
32.2
32.8
33.7
35.0
36.3
52.1
51.3
51.8
53.1
54.2
33.3
34.3
35.1
36.5
38.1
26.7
27.4
28.3
29.6
30.7
25.5
26.4
27.2
28.6
30.6
27.9
29.0
30.2
31.8
33.7
32.0
32.8
33.9
35.6
37.4
24.8
26.0
27.4
28.9
30.8
28.4
29.4
30.3
31.8
33.4
1970
1971
1972
1973
1974
37.9
39.5
40.8
42.7
46.7
55.1
56.7
57.1
57.8
61.0
39.9
41.1
42.4
45.3
51.3
32.4
34.3
35.9
37.4
40.3
31.7
33.5
35.5
38.6
42.7
36.2
38.6
41.1
43.7
46.9
40.2
42.9
46.0
48.4
50.2
33.1
35.3
37.3
40.1
44.3
35.2
37.1
38.8
41.3
44.9
1975
1976
1977
1978
1979
50.5
53.3
56.7
60.7
65.8
66.0
69.1
71.7
75.2
80.0
55.3
57.5
60.8
64.7
71.3
43.7
46.9
50.5
54.6
59.0
46.7
49.7
54.7
61.4
68.2
51.4
54.4
57.7
61.7
66.8
54.6
57.3
60.4
64.1
68.9
48.9
52.1
55.7
59.9
65.1
49.2
52.3
55.9
60.3
65.5
72.6
78.9
83.2
86.7
89.9
84.7
89.5
92.4
93.7
94.9
79.6
86.0
88.8
91.1
93.7
65.3
71.9
77.4
82.4
86.4
73.3
79.6
85.0
88.5
92.2
75.2
82.3
88.5
92.2
95.6
71.9
77.6
82.3
85.5
89.6
. .
84.8
88.1
91.1
95.6
94.8
94.7
100.3
98.3
96.8
75.3
81.3
85.3
87.3
89.8
100.4
101.2
99.7
99.9
97.7
96.8
Gross domestic purchases
GDP
1960
1961
1962
1963
1964
1980
1981
1982
1983
1984
FWPI
GDP IPD
272
27.7
85.4
88.3
91.0
71.7
78.9
83.8
87.2
91.0
3.9
3.4
3.3
3.1
1985
1986
1987
1988
1989
94.3
97.0
93.3
96.1
96.0
97.1
962
96.1
90.9
95.8
95.7
97.9
97.3
98.8
92.1
95.8
98.2
97.3
94.6
93.8
95.4
97.6
97.9
99.0
93.5
96.5
94.0
96.6
94.4
96.9
100.0
103.9
108.6
100.0
104.3
109.5
100.0
102.0
104.5
100.0
103.8
109.5
100.0
105.1
110.7
100.0
103.3
106.3
100.0
102.8
105.6
100.0
104.3
107.8
100.0
105.7
108.2
100.0
105.4
108.5
100.0
103.7
107.9
100.0
102.8
107.1.
100.0
104.3
108.6
100.0
103.9
108.6
100.0
103.9
108.5
3.5
2.8
3.1
3.9
4.4
3.3
2.8
3.5
3.9
4.4
1990
1991
113,5
118.1
115.3
120.4
106.3
108.9
116.2
120.5
116.9
123.1
109.1
110.8
108.3
110.4
110.8
111.8
110.1
112.4
112.6
113.7
112.5
116.5
112.0
116.7
112.9
116.4
113.7
118.1
113.2
117.8
4.5
4.0
4.6
3.8
1959' 1
II
HI
IV
30.3
30.4
30.5
30.6
54.2
54.4
54.4
54.4
31.2
31.3
31.5
31.6
23.8
23.9
24.0
24.1
24.9
25.0
25.0
25.0
24.4
24.5
24.6
24.7
28.4
28.5
28.7
28.7
21.3
21.4
21.5
21.6
25.4
25.6
25.7
25.8
1960: 1
II
III
IV
30.6
30.8
30.9
31.0
54.3
54.3
54.1
53.8
31.6
31.8
31.9
32.0
24.2
24.4
24.6
24.8
25.0
25.1
25.1
25.1
24.9
25.0
25.2
25.3
28.8
28.8
29.2
29.2
21.9
22.0
22.1
22.3
26.0
26.0
26.1
26.0
1961:1
II
Ill
IV
31.1
31.1
31.1
31.1
53.9
53.9
53.9
53.7
32.0
31.9
32.0
31.9
24.9
24.9
25.0
25.1
25.1
25.1
25.1
25.0
25.2
25.5
25.5
25.7
29.1
29.3
29.3
29.4
22.2
22.5
22.6
22.8
26.1
26.2
26.4
26.5
1962' I . . . .
II .. ..
Ill
IV
31.2
31.3
31.3
31.4
53.5
53.4
53.3
53.1
32.0
32.1
32.2
32.3
25.1
25.3
25.4
25.5
25.1
25.0
25.0
24.9
26.1
26.2
26.3
26.5
29.8
29.8
29.9
30.4
23.3
23.4
23.4
23.4
26.7
26.8
26.9
27.0
1963- 1
II
III
IV
31.4
31.5
31.6
31.7
53.0
53.0
53.1
53.2
32.3
32.4
32.5
32.6
25.6
25.7
25.8
25.9
24.9
24.8
24.5
24.7
26.7
26.7
26.8
27.0
30.5
30.6
30.5
30.9
23.7
23.7
23.9
24.0
27.1
27.1
27.2
27.4
1964- 1
31.8
31.9
31.9
32.0
53.3
53.1
53.0
52.8
32.8
32.8
32.8
32.9
26.0
26.1
26.2
26.3
24.4
24.8
24.9
25.4
27.1
27.3
27.4
27.5
30.9
31.2
31.4
31.5
24.1
24.2
24.3
24.4
27.5
27.6
27.7
27.9
1965: 1
||
III
IV
32.1
32.2
528
52.5
52.0
51.3
33.1
33.3
33.4
33.5
26.5
26.6
26.7
26.9
25.3
25.4
25.3
26.0
27.6
27.7
28.0
28.3
31.6
31.7
32.1
32.4
24.5
24.7
24.8
25.1
28.2
28.3
28.5
28.7
1966: 1
||
Ill
IV
32.5
32.7
33.0
332
51.1
51.2
51.4
51.5
33.9
34.1
34.4
34.6
27.0
27.2
27.5
27.8
25.7
26.5
26.4
26.9
28.6
28.9
29.1
29.4
32.5
32.8
32.9
33.1
25.5
25.8
26.2
26.5
29.0
29.3
29.5
29.9
1967' I
II
III
IV
33.3
33.5
33.8
34.1
51.5
51.6
51.9
52.4
34.8
34.9
35.3
35.5
28.0
28.2
28.5
28.7
27.0
27.0
27.2
27.7
29.8
30.0
30.3
30.8
33.4
33.7
34.0
34.6
26.9
27.2
27.5
27.8
30.0
30.1
30.4
30.8
1968: 1
II
III
IV
34.5
34.8
35.1
35.5
52.7
52.9
53.2
53.6
35.9
36.3
36.7
37.1
29.1
29.4
29.7
30.0
28.2
28.4
28.4
29.5
3.1.2
31.5
32.0
32.5
35.0
35.3
36.0
36.4
28.3
28.7
29.0
29.5
31.2
31.6
32.0
32.4
1969: 1
II
Ill
IV
35.7
36.1
36.5
36.8
53.8
54.2
54.3
54.6
37.4
37.9
38.4
38.8
30.2
30.5
30.9
31.3
30.1
30.5
30.7
31.2
32.8
33.3
34.0
34.5
36.6
36.9
37.8
38.2
29.9
30.5
31.0
31.6
32.7
33.2
33.7
34.0
1970: 1
II
Ill
IV
1971: |
||
Ill
IV
37.3
37.6
38.0
38.6
54.6
54.8
55.1
55.9
39.3
39.8
40.1
40.5
31.7
32.1
32.5
33.1
31.1
32.3
31.5
31.8
35.3
35.9
36.5
37.0
39.3
39.9
40.5
40.9
32.2
32.8
33.4
33.9
34.5
35.1
35.3
35.7
39.0
39.4
39.8
40.0
56.6
56.9
56.8
56.5
40.6
41.0
41.3
41.6
33.6
34.1
34.6
35.0
32.6
33.3
33.9
34.4
37.8
38.4
38.9
39.4
42.0
42.6
43.2
43.9
34.6
35.2
35.6
35.9
36.4
37.0
37.4
37.7
III
IV
:.:.:;.:.::::
323
32.3
SURVEY OF CURRENT BUSINESS
34 • December 1992
Table 3.—Price Indexes and the Gross Domestic Product Implicit Price Deflator—Continued
[Index numbers, 1987=100; quarterly data are seasonally adjusted]
Percent change from
preceding period
Fixed-weighted price indexes
Personal consumption expenditures
Year and
quarter
GDP
Total
Durable
goods
Nondurable goods
Fixed investment
Services
Total
Nonresidential
Government purchases
Exports
Imports
Residential
Total
Federal
State and
local
Gross domestic purchases
56.9
57.1
57.3
57.1
42.0
422
42.5
43.0
35.4
35.7
36.0
36.4
34.9
35.0
35.6
36.6
40.4
40.8
412
42.0
45.3
45.6
46.0
47.0
36.6
37.0
37.6
38.2
38.2
38.6
39.0
39.6
41.7
42.4
43.0
43.8
57.4
57.7
57.9
58.1
43.6
44.8
45.8
47.0
36.6
37.1
37.7
38.3
37.1
38.1
39.3
40.0
42.8
43.4
44.0
44.6
47.6
48.0
48.8
492
39.0
39.8
40.4
41.1
40.1
40.8
41.6
42.6
IV
44.9
46.1
47.3
48.5
58.6
59.8
61.9
63.6
49.0
50.7
52.1
53.5
39.1
39.9
40.8
41.6
41.0
42.0
43.3
44.5
452
462
47.5
48.6
49.1
49.7
50.6
51.5
42.2
43.5
45.0
46.3
43.3
44.2
45.5
46.6
1975: 1
||
Ill
IV
49.4
50.0
50.9
51.7
64.5
65.7
66.3
67.3
54.4
54.7
55.7
56.5
42.6
43.3
44.1
44.9
45.6
46.4
46.9
47.7
50.4
50.9
51.6
52.6
54.1
54.0
54.4
55.7
47.4
48.5 Z.Z.1"
49.3
502
48.0
48.7
49.7
50.5
1976: 1
II
IV
523
52.8
53.7
54.5
68.1
68.7
69.4
70.3
56.7
57.0
57.7
58.4
45.6
46.3
47.3
482
48.0
49.4
502
51.1
53.3
54.1
54.4
55.7
56.2
57.1
57.1
59.0
51.1
51.9
52.4
53.1
51.2
51.8
52.6
53.6
1977-1
II
HI
IV
55.4
56.3
57.2
58.0
70.9
71.2
71.8
72.7
59.4
60.5
61.3
61.9
49.1
50.0
51.0
51.9
52.4
53.9
55.5
57.1
56.3
572
58.1
59.5
592
59.8
60.6
62.1
54.1
55.1
56.1
57.4
54.3
55.4
56.4
57.4
1978: I
||
Ill
IV
58.9
602
61.3
62.3
73.5
74.6
75.9
77.0
62.8
64.2
65.4
66.5
53.0
54.1
55.2
56.2
58.7
60.6
62.4
63.9
60.1
61.1
62.1
63.5
62.7
63.4
64.3
65.9
58.1
59.2
60.4
61.6
58.2
59.7
60.9
622
1979: 1
||
Ill
IV
63.6
65.1
66.6
68.1
78.3
79.8
80.4
81.4
682
70.3
72.4
74.2
57.1
582
59.6
61.1
65.1
67.3
69.6
71.0
64.6
65.8
67.3
69.3
66.9
67.9
692
71.6
62.8
64.2
65.9
67.5
63.5
64.8
66.3
67.6
1980: 1
II
Ill
IV
70.1
71.8
73.5
75.0
82.9
842
85.4
86.5
77.0
78.8
80.5
822
62.8
64.5
662
67.8
72.9
74.5
76.2
77.7
71.0
72.6
73.7
76.1
72.9
74.4
74.9
78.7
69.5
71.3
72.7
74.1
692
70.8
72.5
74.4
1981:1
||
76.9
782
79.6
80.8
87.5
89.0
902
912
84.6
85.7
86.6
87.3
69.6
70.9
72.8
74.2
79.7
80.7
81.8
82.9
77.6
78.9
80.0
82.0
79.9
81.2
82.3
85.6
75.8
77.0
78.3
79.2
76.5
77.9
79.7
81.4
.
1973: 1
II
III
IV
1974: 1
It
iii ZZ
ZZZI
III
Ill
IV
"zzz:
Gross domestic purchases
GDP
40.4
40.7
41.0
41.3
1972: 1
II ..
Ill
IV
FWPI
GDP IPD
1982: 1
II
III
IV
83.4
84.3
85.4
86.3
81.8
82.5
83.8
84.7
91.8
92.4
92.6
92.6
88.0
882
89.4
89.7
75.5
76.6
78.2
79.6
96.1
95.6
95.4
95.4
101.5
100.4
99.8
99.6
84.1
85.1
85.8
862
101.0
100.9
100.1
99.4
103.4
101.7
100.3
99,4
83.3
84.6
85.5
86.7
86.8
882
88.8
90.4
80.5
81.7
82.9
83.8
84.2
84.9
85.9
86.7
82.3
83.4
84.3
85.0
4.3
5.3
4.1
3.2
4.6
3.8
1983: 1
II
III
IV
87.0
87.7
88.5
89.3
85.3
86.3
87.3
882
93.1
93.3
93.9
94.5
89.7
90.9
91.7
92.0
80.7
81.7
82.9
84.2
95.4
94.8
94.5
94.6
99.2
98.4
97.8
97.6
86.9
86.9
87.3
88.0
99.5
99.4
99.6
100.3
97.9
98.0
97.7
97.3
87.5
88.2
88.8
89.3
91.5
92.2
92.7
92.7
84.4
85.1
85.9
86.7
872
87.9
88.6
89.3
86.0
86.6
87.5
88.4
3.6
3.1
3.7
3.8
1984: 1
||
Ill
IV
90.0
90.6
91.4
92.3
88.9
89.5
90.3
91.0
94.5
94.9
95.0
952
93.0
93.4
93.8
94.4
85.0
85.8
86.9
87.9
94.5
94.4
94.7
95.1
97.0
96.6
96.7
97.0
89.1
89.3
90.1
90.8
100.0
100.6
99.8
99.3
97.5
97.5
96.2
96.0
90.8
91.6
92.6
93.9
94.3
94.7
95.7
97.7
882
892
90.1
91.1
90.1
90.6
91.3
92.1
89.7
90.6
91.6
92.3
3.3
2.7
3.6
3.7
2.6
3.0
3.4
3.1
3.5
2.3
3.2
3.7
"
93.2
93.9
94.6
95.5
91.9
92.8
93.7
94.8
95.8
95.9
96.0
96.3
952
96.0
96.4
972
89.0
90.1
91.4
92.9
952
95.3
95.8
96.4
96.8
97.0
97.5
97.9
91.6
91.5
92.1
93.1
98.5
98.5
97.8
97.9
94.1
94.1
94.0
96.0
94.3
95.1
95.5
96.9
97.0
97.6
97.6
99.4
92.2
93.2
93.9
94.9
92.9
93.6
94.3
95.4
93.3
94.0
94.6
95.5
3.9
3.3
3.0
3.8
3.1
3.2
3.2
4.6
1986: 1
II ...
Ill
IV
96.0
96.6
97.3
98.0
95.4
95.5
96.3
97.1
96.4
96.6
97.4
97.9
97.0
95.4
95.9
96.3
942
95.3
96.3
97.3
96.9
97.5
982
98.8
98.0
98.5
992
99.5
94.5
95.1
96.1
97.3
97.5
97.3
96.7
97.6
96.0
92.5
93.0
93.7
97.1
97.3
97.7
98.3
99.1
99.0
99.0
99.0
95.5
95.9
96.7
97.8
95.9
96.1
96.9
97.6
96.0
96.5
972
98.0
2.2
2.4
2.8
3.1
2.3
.8
3.2
3.0
1987: 1
II
III . .
IV
98.9
99.5
100.4
101.3
98.4
99.5
100.5
101.6
98.9
99.6
100.5
101.1
98.4
99.6
100.5
101.5
98.3
99.3
100.5
101.9
99.4
99.7
100.0
101.0
99.6
99.8
99.9
100.7
98.7
99.4
100.4
101.5
98.3
99.8
100.1
101.8
96.8
99.6
100.8
102.8
99.0
99.7
100.4
101.0
99.7
100.0
100.1
100.2
98.5
99.4
100.6
101.5
98.7
99.5
100.4
101.4
98.8
99.5
100.3
1012
3.4
2.8
3.3
3.6
4.5
3.6
3.6
3.9
1988: 1
II
Ill
IV
1022
103.3
104.7
105.6
102.3
103.6
105.0
106.2
100.9
101.5
102.4
103.3
101.8
103.0
104.6
105.7
103.0
104.5
105.9
107.2
1022
102.9
103.4
104.5
101.8
102.5
103.0
104.0
103.3
103.9
104.5
105.4
103.0
105.6
107.1
107.0
104.0
106.0
105.0
106.4
102.4
103.3
104.1
104.9
101.9
102.6
103.0
103.7
102.8
103.8
104.9
105.8
102.3
103.4
104.5
105.6
3.6
4.5
5.4
3.7
3.7
4,4
4.3
4.2
1989: 1
||
Ill
IV
106.9
108.2
109.2
110.1
107.5
109.1
110.0
1112
103.8
104.2
104.8
1052
107.1
109.7
110.1
111.0
108.7
109.9
111.3
112.8
105.3
106.1
106.7
107.3
104.7
105.3
106.0
106.6
106.6
107.8
108.2
108.8
108.1
108.5
108.1
108.1
108.3
109.4
107.9
108.7
106.7
107.6
108.2
1092
106.1
106.8
107.3
108.3
107.2
108.2
109.0
109.8
107.0
108.3
109.1
110.1
102.1
103.2
104.5
105.5
106.9
108.1
109.1
110.1
5.0
4.7
3.7
3.6
1990: 1
II
Ill
IV
111.6
112.9
114.2
115.3
113.0
1142
116.0
118.0
105.9
106.1
106.4
106.9
113.7
114.6
117.0
119.8
114.3
116.0
117.8
119.5
1082
108.6
109.4
110.0
107.3
107.7
108.6
109.4
1102
110.6
111.3
111.2
108.9
1092
110.3
111.8
110.9
109.3
112.6
118.5
110.9
111.7
113.0
114.4
110.4
111.2
112.6
113.9
1112
112.1
113.3
114.8
111.7
112.7
114.3
115.9
111.3
112.6
113.9
115.0
5.4
4.6
4.7
4.1
5.2
5.0
3.1
3.9
5.9
3.7
5.6
5.8
1991: 1
II
Ill
IV
116.7
117.7
118.6
119.3
119.0
119.9
120.8
121.8
107.8
108.6
109.5
109.8
119.8
120.3
120.6
121.3
121.2
122.5
123.8
125.1
110.5
110.6
1112
111.1
110.1
110.2
110.6
110.7
111.4
111.6
112.5
111.9
112.4
112.3
112.1
112.8
115.4
113.0
112.8
113.7
115.5
116.0
116.9
117.7
115.5
115.9
116.9
118.3
115.5
116.2
116.9
117.2
116.9
117.6
118.5
119.2
116.5
117.5
1182
118.9
4.7
3.5
3.0
2.4
3.1
2.5
2.9
2.5
1992: 1
II
Ill
120.4
121.3
121.9
122.9
124.0
124.8
110.3
111.3
111.8
121.8
122.7
123.4
126.6
127.8
128.7
111.1
111.0
111.6
110.8
111.1
111.5
111.7
112.4
113.4
113.0
113.6
114.1
112.9
1142
115.8
118.6
119.6
120.3
120.1
120.9
122.0
117.4
118.5
118.9
120.2
121.1
121.9
119.8
120.6
121.2
3.6
2.9
2.1
3.1
32
2.5
1985: 1
Ill
IV
NOTE.-GDP Gross domestic product; IPD Implicit price deflator; FWPI Rxed-weighted price index.
The fixed-weighted price indexes for GDP, total fixed investment, nonresidenfial fixed investment, exports, imports, and gross domestic purchases are not shown for periods before 1982 because for these periods the combination of the high level and very rapid decline of the
price index for computers and the large 1987 quantity weights for computers results in misleading measures of price change for components and aggregates that include computer purchases.
SURVEY OF CURRENT BUSINESS
December 1992 • 35
Table 4.—National Income and Disposition of Personal Income
[Billions of dollars; quarterly data are seasonally adjusted at annual rates]
Compensation of employees
Year and
quarter
National
income
Total
Wages
and salaries
Supplements to
wages
and salaries
Proprietors' income
with IVA and
CCAdj.
Farm
Nonfarm
Rental
income
of persons
with
CCAdj.
Corporate profits with IVA and CCAdj.
Total
CCAdj.
IVA
1929
85.3
51.1
50.5
.7
6.1
8.4
4.9
102
.5
-.9
1930
1931
1932
1933
1934
74.1
59.0
42.8
40.2
49.0
46.9
46.2
39.2
30.5
.7
.6
.6
6
.6
4.3
3.4
2.1
25
2.9
7.1
5.3
3.3
30
4.4
4.2
3.4
2.7
20
1.6
6.9
2.4
-.7
-7
1.9
3.3
2.4
1.0
-.7
-.4
-.3
-.3
-.6
1935
1936
1937
1938 ..
1939
56.7
64.6
72.7
66.2
71.6
37.4
43.0
48.0
45.0
48.2
36.7
42.0
46.1
.7
1.0
1.8
20
2.2
5.2
4.3
6.0
4.4
4.4
52
6.4
6.9
6.6
7.1
1.6
1.7
1.9
24
2.6
3.4
5.6
6.4
4.3
5.9
-2
-.7
0
1.0
-.7
1940
1941
1942
1943
1944
79.9
103.1
136.5
170.0
182.8
522
499
-2
109.6
121.3
105.8
116.7
27
32
4.1
4.6
4.8
92
62.1
82.1
44
6.4
8.3
64.8
85.3
23
2.8
3.2
3.8
4.5
1945
1946
1947
1948
1949
181.8
180.9
196.9
221.8
215.6
123.3
119.6
130.1
142.1
142.0
117.5
112.0
123.1
1950
1951
1952
1954
240.0
277.7
292.1
307.0
307.0
155.4
181.6
196.3
210.4
209.4
147.2
171.6
185.6
199.0
197.2
1955
1956
1957
1958
1959
337.1
357.2
373.7
376.0
410.1
225.9
244.7
257.8
259.8
281.2
212.1
229.0
239.9
241.3
259.8
1960
1961
1962
1963
1964
425.7
440.5
474.5
501.5
539.1
296.7
305.6
3274
345.5
371.0
1965
1966
1967
1968
1969
586.9
643.7
679.9
741.0
798.6
1970
1971
1972
1973
1974
39.8
31.1
29.6
34.3
290
33.7
430
46.0
10.1
12.0
11.9
10.7
13.8
16.9
18.1
5.8
7.6
7.0
65
7.3
12.4
14.8
15.0
19.1
21.6
20.5
174
12.6
230
232
8.2
10.0
10.7
11.5
12.1
13.5
16.0
15.0
12.8
12.3
25.2
28.0
29.4
30.5
31.1
10.7
11.6
13.8
15.7
17.8
18.5
21.4
11.2
11.0
10.9
12.8
10.7
34.1
35.9
37.9
38.6
41.1
272.8
280.5
2993
314.8
337.7
23.8
25.1
112
281
30.7
332
399.8
443.0
475.5
524.7
578.4
363.7
400.3
428.9
471.9
518.3
833.5
899.5
992.9
1,119.5
1,198.8
618.3
659.4
726.2
1975
1976
1977 ...
1978
1979
1355
134.7
14.8
20.1
24.3
24.4
-2.1
-.6
-2.5
-12
-.8
-.3
-.6
5.0
5.8
5.8
63
6.7
19.8
17.2
23.1
7.6
8.4
9.5
35.2
-5.0
402
-12
1.0
305
28.4
-5.3
-5.9
-2.2
1.9
38.0
38.1
37.2
-1.0
12.0
12.4
13.1
13.9
14.7
47.7
46.4
46.0
-1.7
-2.7
-1.5
52.3
-.3
-.3
40.6
42.4
15.3
15.8
50.7
51.6
-2
.3
11 9
445
165
596
o
11.8
10.6
45.9
49.8
17.1
17.3
65.1
72.1
.1
-.5
36.1
42.7
46.6
52.8
60.1
12.9
14.0
12.7
12.7
14.4
52.1
55.3
58.2
62.4
64.5
18.0
18.5
19.4
18.2
18.0
82.9
88.6
86.0
92.6
89.6
-12
66.8
74.9
87.6
1042
14.6
15.2
19.1
65.3
70.9
78.3
17.8
18.2
16.8
77.5
90.3
103.2
322
843
173
1164
-6.6
-4.6
-6.6
-200
891.3
551.5
584.5
638.7
7086
772.2
119.1
25.5
89.8
15.8
104.5
-39.5
1,285.3
1,435.5
1,609.1
1,829.8
2,038.9
948.7
1,058.3
1,1773
1,333.0
1,496.4
814.7
899.6
9940
1,120.9
1,255.3
134.0
158.7
23.7
18.3
97.5
114.6
13.5
12.1
-11.0
-14.9
1833
171
1294
212.1
241.1
21.5
24.7
146.2
157.0
121.9
147.1
175.7
199.7
202.5
1980
1981
1982
1983
1984
2,198.2
2,432.5
2,522.5
2,720.8
3,058.3
1,644.4
1,815.5
1,916.0
2,029.4
2,226.9
1,376.6
1,515.6
1,593.3
1,6842
1,850.0
267.8
299.8
322.7
345.2
376.9
11.5
21.2
13.5
160.3
159.6
157.3
184.3
214.7
177.7
182.0
151.5
212.7
2642
-43.0
-25.7
1985 ...
1986
1987
1988
1989
3,268.4
3,437.9
3,692.3
4,002.6
4,249.5
2,382.8
2,523.8
2,698.7
2,921.3
3,100.2
1,986.3
2,105.4
22612
2,443.0
2,586.4
396.5
418.4
437.4
478.3
513.8
215
22.3
31.3
30.9
40.2
238.4
261.5
279.0
293.4
307.0
8.7
32
4.3
-13.5
280.8
271.6
319.8
365.0
362.8
1990
1991
4,468.3;
4,544.2
3,2912
3,390.8
2,742.9
2,812.2
548.4
578.7
41.7
35.8
3252
332.2
-12.3
-10.4
1946: 1
||
Ill
IV
170.9
177.7
184.9
190.0
115.2
117.6
121.4
124.4
107.7
109.6
113.5
130
1172
75
8.0
78
7.2
21.0
22.0
22.1
21.2
1947: 1
H
Ill
IV
192.4
193.7
196.9
204.5
127.2
128.7
130.1
134.3
119.7
121.5
123.4
127.8
7.6
7.3
6.7
6.5
16.7
13.1
14.8
15.6
20.6
20.2
1948: 1
II
Ill
IV
213.8
221.1
225.4
227.0
138.0
139.7
144.6
146.0
131.4
133.2
138.1
139.5
6.6
6.5
6.5
6.5
15.6
18.8
18.5
16.9
1949: 1
II
III
IV
220.0
215.0
215.1
212.1
144.2
142.0
141.2
140.6
136.9
134.6
133.9
133.4
7.3
7.4
7.3
72
13.3
12.7
12.1
12.4
1950: 1
II
Ill ..
IV
221.2
231.8
247.3
259.8
144.7
150.8
159.1
167.1
137.1
142.9
150.8
158.3
7.7
7.9
8.3
8.8
12.8
12.8
13.7
14.9
1951: 1
II .
Ill
IV
269.2
275.6
280.4
285.6
175.1
180.7
183.9
186.6
165.5
170.8
173.8
176.2
9.6
9.9
15.7
15.8
15.9
16.6
1953
;..
8128
10.1
10.4
11.9
2.4
21.3
13.6
161
16.5
412
-.3
-2.1
-1.6
-3.7
-5.9
-.6
-.6
-1.1
-1.1
-1.0
-1.1
-1.0
-.8
-.5
2
.4
Net interest
Personal
income
Less:
Personal
tax and
nontax
Equals:
DPI
10.6
9.2
4.6
84.2
2.3
81.8
79.4
2.5
3.0
585.8
3.4
-.1
75.3
64.4
49.1
46.0
52.8
2.1
1.5
1.1
12
1.3
732
71.4
61.6
49.5
46.6
52.1
1.8
1.3
2.5
2.1
5422
519.7
449.8
437.0
462.0
59.5
67.8
1.6
2.0
2.7
26
2.2
57.9
65.8
70.5
23
3.0
5.7
75.0
91.9
4,3
.4
pay-
1.7
3.1
12
2.3
4.8
4.8
4.4
39
3.9
42
6.9
7.5
4.4
7.6
3.3
5.5
5.9
34
62
3.9
3.7
3.6
35
3.5
76
32
32
3.1
2.7
2.3
122.3
150.6
164.4
2.1
1.8
2.4
24
2.7
-1.5
10.4
18.3
22.0
25.6
24.5
-1.9
10.7
10.6
11.5
11.5
9.3
732
675
71.9
77.4
94.9
63.0
48.0
44.8
51.5
649
69.7
17.6
18.6
116.6
133.1
145.8
170.0
177.7
190.1
2090
206.1
20.6
18.4
21.1
149.4
159.3
169.1
206
1884
18.0
188.1
227.8
256.5
273.7
290.4
293.0
20.1
28.4
33.5
34.9
31.8
207.7
228.1
240.2
255.5
326.3
346.7
1,130.8
1,185.2
1,214.6
1,236.0
1,284.9
360.5
376.2
398.7
418.4
454.7
339.9
351.3
3728
393.7
423.1
20.6
24.9
259
24.6
31.6
5.7
6.6
6.5
5.9
6.9
1,313.0
1,356.4
1,414.8
1,461.1
1,5622
109.9
491.0
530.7
568.6
617.8
663.8
456.5
494.4
522.8
573.9
620.5
34.6
36.3
45.8
43.8
43.3
7.0
6.8
8.1
7.1
6.5
1,653.5
1,734.3
1,811.4
1,886.8
1,947.4
109.0
108.7
132.0
722.0
784.9
848.5
57.5
65.4
59.7
8.0
8.3
7.0
9.0
8.9
2,025.3
2,099.9
2,1862
2,334.1
2,317.0
2,355.4
2,440.9
2,512.6
2,638.4
2,710.1
279.9
298.8
51.1
51.0
28.4
28.2
324
182
409.2
426.5
453.4
476.4
510.7
48.7
50.3
564
612
11.2
13.1
14.6
16.1
552.9
601.7
646.5
709.9
773.7
831.0
893.5
980.5
1 0987
1,205.7
5.3
5.6
5.7
5.6
6.4
78.8
85.1
81.8
90.6
89.0
47.9
51.4
51.2
49.4
21.1
24.3
28.1
30.4
33.6
5.6
4.8
5.3
55
1.2
78.4
90.1
44.0
52.4
62.6
40.0
45.4
49.3
1309
81 6
565
142.8
91.0
71.8
140.4
173.7
2033
237.9
261.4
89.5
80.0
85.1
1303
492
890.9
860.0
826.1
872.9
874.5
5.7
7.1
72
7.4
6.3
34.6
38.7
41.3
40.9
44.5
34.9
40.0
192
8.5
3.0
5.8
3.7
15.9
21.3
22.6
24.0
22.0
314.5
337.5
356.5
3672
391.2
68.0
627.2
713.9
824.7
863.8
901.8
264.0
277.5
292.6
302.3
324.7
6.1
6.8
7.9
9.7
102
-.3
.3
32
3.9
4.6
3.8
10.7
23.1
24.5
25.0
942.5
9782
1,009.7
1,053.5
1,071.5
27.7
28.3
27.5
23.8
29.7
222
5052
565.9
585.5
547.6
590.3
5.9
7.3
7.2
7.0
6.2
49.7
50.3
48.9
42.7
53.4
25.3
100.4
109.3
2.9
9.8
26.9
32.6
36.5
2.3
4.4
4.0
-.3
2.4
12.3
16.5
17.3
18.0
16.2
20.8
21.3
21.6
19.4
82.1
89.7
1.4
2.9
2.8
-2
1.7
-3.1
-3.9
-1.1
195.4
211.6
222.9
237.5
245.0
3.0
3.5
3.8
4.5
5.4
234
722
-.5
28.6
13.6
43.2
44.7
40.2
41.6
39.2
15.8
20.7
56.6
62.9
67.7
65.1
68.0
-1.5
-1.7
120.8
145.7
164.1
177.5
181.1
-3.0
-3.4
-3.1
-2.5
-1.7
-.8
DPI in
constant
(1987)
dollars
ments
20.0
24.9
31.9
35.9
29.6
-1.2
-1.3
-1.3
Saving
as percentage
of DPI
Profits
aftertax
-2.4
-2.9
-3.2
-3.0
-.3
Equals:
Less:
Personal Personal
saving
outlays
Profits
before
tax
548
58.0
56.0
61.9
71.0
77.9
92.1
2612
3152
5.0
10.8
6.9
1406
9581
159.1
1,046.5
664.5
719.4
788.7
8720
953.1
154.4
173.4
156.4
182.3
210.0
240.1
2802
1,150.9
1,264.0
1,391.3
1,567.8
1,753.0
1,050.6
1,171.0
1,303.4
1,460.0
1,629.6
100.3
100.7
120.5
149.9
1,307.3
1,446.3
1,601.3
1,807.9
2,033.1
107.8
123.3
8.7
7.4
6.3
6.9
7.0
10.4
27.8
240.9
228.9
176.3
210.7
240.5
156.1
147.8
113.2
133.5
146.4
191.2
233.4
262.4
270.0
307.9
2,265.4
2,534.7
2,690.9
2,862.5
3,154.6
312.4
3602
371.4
368.8
395.1
1,952.9
2,174.5
2,319.6
2,493.7
2,759.5
1,799.1
1,982.6
2,120.1
2,325.1
2,537.5
153.8
191.8
199.5
168.7
222.0
7.9
8.8
8.6
6.8
8.0
2,733.6
2,795.8
2,820.4
2,893.6
3,080.1
2
9.7
-14.5
-27.3
-17.5
55.5
44.1
46.4
44.7
37.4
225.0
217.8
287.9
347.5
342.9
1285
111.3
160.8
210.5
201.6
3262
3502
360.4
387.7
452.7
33798
3,590.4
3,802.0
4,075.9
4,380.3
436.8
459.0
512.5
527.7
593.3
29430
3,131.5
3,289.5
3,548.2
3,787.0
2 753.7
2,944.0
3,147.5
3,392.5
3,634.9
189.3
187.5
142.0
155.7
152.1
6.4
6.0
4.3
4.4
4.0
3,162.1
3,261.9
3,289.5
3,404.3
3,464.9
361.7
346.3
-14.2
3.1
20.5
355.4
334.7
218.7
210.7
4,664.2
4,828.3
621.3
618.7
4,042.9
4,209.6
3,867.3
4,009.9
175.6
199.6
4.3
4.7
3,516.5
3,509.0
5.8
5.8
5.8
5.9
14.3
16.9
17.7
20.1
-12
-1.5
-2.8
-8.1
-8.9
-22
-2.8
-3.2
17.0
21.9
28.6
32.3
460.7
449.5
17
1.8
1.8
1.9
19.8
23.5
23.7
25.4
-9.7
-4.7
-4.0
-5.2
-3.3
-2.8
-2.8
-2.8
32.7
30.9
30.6
33.4
212
20.9
5.7
5.7
5.8
6.0
20.0
19.8
21.7
22.1
22.9
23.4
23.6
6.2
6.4
6.4
6.4
29.4
31.0
30.1
31.7
-2.9
-2.9
-2.8
-.1
-2.8
-3.1
-3.4
-3.4
35.0
36.9
36.3
35.1
23.1
6.4
6.5
6.8
7.0
30.4
28.0
29.3
26.0
1.4
2.8
3.0
.2
-3.1
-3.1
-3.0
-2.9
29.5
33.1
37.6
40.7
-.7
26.1
7.4
7.6
7.7
8.0
27.6
27.7
28.2
28.6
8.1
8.3
8.5
8.8
39.5
39.6
40.2
41.5
202
232
23.1
23.3
24.0
24.6
262
90
8.9
8.4
132
20.8
21.9
22.1
23.3
18.7
-166
-25.0
-41.6
-9.9
-8.5
-4.1
-3.3
-7.3
-8.5
-8.7
-1.0
3.5
1.5
-7.6
-11.7
-11.0
-13.1
-17.3
-20.2
-21.2
-14.9
8.4
104.5
109.5
108
861
93.4
93.0
87.9
1701
172
1529
1361
16.8
175.2
181.0
184.3
18.5
19.0
18.9
156.7
162.0
165.3
141.5
150.4
154.8
152
2.4
2.4
2.4
2.3
186.7
184.9
192.9
196.2
20.5
20.7
21.0
22.1
166.2
171.8
174.1
158.3
162.2
165.8
170.0
22.9
24.1
23.7
23.0
2.5
2.4
2.4
2.4
2022
207.6
213.1
213.1
22.6
20.5
19.6
19.8
179.6
187.1
193.5
193.3
173.0
176.8
179.7
180.6
32.0
28.2
29.3
28.7
21.0
18.5
2072
205.8
2052
206.3
19.1
18.3
17.6
17.1
1882
18.8
2.6
2.7
2.7
2.7
187.6
187.6
189.2
179.5
181.2
180.6
183.2
-2.7
-2.9
-3.0
-3.4
32.9
39.3
47.9
52.6
19.3
23.0
28.0
30.8
2.9
3.0
3.0
3.1
220.4
229.9
239.6
17.8
18.8
20.1
23.7
202.6
202.4
209.8
215.9
186.1
190.1
204.0
201.4
-3.6
-3.4
-3.3
-3.1
51.8
44.0
40.0
43.1
25.5
21.7
19.9
21.6
3.3
3.5
3.6
3.6
248.2
2552
258.7
264.1
25.7
27.6
29.1
31.1
222.5
227.6
229.6
233.0
212.6
208.2
210.8
214.8
13.9
181
20.5
192
2212
1642
11.7
10.6
11.0
9.7
7.2
6.4
8.0
2.0
6.0
4.1
4.8
1.2
3.5
2.4
8322
815.0
834.3
823.5
6.6
3.7
5.5
7.1
6.6
844.0
869.4
887.4
890.9
4.6
3.4
3.7
32
874.1
874.4
874.3
875.0
8.2
6.0
2.8
6.7
936.9
933.7
937.8
961.7
4.4
8.5
82
7.8
954.7
980.9
987.6
989.5
10.3
13.8
12.7
8.7
6.4
6.9
6.0
16.5
12.2
5.8
14.5
9.9
19.4
18.8
18.2
36 • December 1992
SURVEY OF CURRENT BUSINESS
Table 4.—National Income and Disposition of Personal Income—Continued
[Billions of dollars; quarterly data are seasonally adjusted at annual rates]
Compensation of employees
Year and
quarter
National
income
1952: |
II
Ill
IV
286.6
286.9
292.3
302.4
1953: 1
||
III '
IV
307.8
310.2
308.7
301.4
'"
Total
Wages
and salaries
Supplements to
wages
and salaries
Proprietors' income
with IVA and
CCAdj.
Farm
Nonfarm
191.6
193.0
196.5
204.3
208.2
211.6
211.7
210.2
181.2
182.4
185.7
193.3
196.9
200.1
200.3
198.7
10.5
10.6
10.8
11.1
16.6
13.6
11.3
11.5
11.5
11.6
13.4
12.9
12.3
12.6
30.6
30.5
30.4
30.4
208.3
207.9
208.5
212.8
217.3
223.8
228.8
233.8
238.3
242.9
246.0
251.8
255.5
257.2
259.9
258.4
255.4
255.0
261.1
267.4
196.4
195.9
196.3
200.3
204.2
210.3
214.6
219.4
11.9
12.0
12.2
12.4
13.4
11.9
12.3
11.7
30.3
30.9
13.1
13.5
14.1
14.4
11.7
11.5
11.0
10.5
223.3
227.5
229.9
235.3
238.2
239.6
241.8
240.1
237.3
236.9
242.6
248.4
15.0
15.4
16.1
16.5
17.3
17.6
18.1
18.3
14.7
152
28.8
29.2
29.5
302
Rental
income
of persons
with
CCAdj.
9.0
9.3
9.6
9.9
102
Corporate profits with IVA and CCAdj.
Total
38.8
36.5
36.3
40.4
Net interest
Profits
before
tax
Profits
aftertax
-3.3
-3.1
-3.1
40.7
38.6
38.7
42.6
20.9
20.0
20.1
22.1
3.7
3.8
3.9
4.0
44.4
44.5
43.5
34.0
22.8
22.8
0
-2.9
-2.6
-2.4
-1.9
0
0
-.7
-.5
-2.0
-1.9
-1.7
-1.4
36.4
37.6
39.9
43.0
-.8
-.5
2
-2
-.4
-.9
CCAdj.
IVA
1.3
12
.7
.8
-.4
pay-
17.4
4.3
4.4
4.5
4.9
35.1
35.0
34.8
34.6
233.8
236.3
242.7
248.0
252.1
256.4
256.8
257.0
20.0
20.6
22.0
23.7
5.1
5.3
5.5
5.7
291.1
290.2
292.6
298.5
31.9
31.6
31.7
32.1
259.2
258.6
260.9
266.3
48.2
48.8
50.0
51.9
26.8
27.2
27.8
28.9
5.9
6.1
6.3
6.2
33.1
34.0
35.1
36.1
270.9
277.3
283.5
287.7
50.1
51.2
48.5
51.3
28.1
28.7
27.4
29.0
6.5
6.8
6.9
6.8
37.4
38.5
39.1
40.0
291.4
296.5
300.5
306.9
52.1
49.9
48.8
44.6
29.3
28.0
27.4
25.0
7.5
7.8
8.2
8.2
40.8
41.5
41.7
41.2
38.3
39.0
43.7
50.0
21.4
21.8
24.3
27.7
9.0
9.5
9.9
10.3
40.6
40.0
41.2
41.6
309.9
314.0
318.3
318.8
319.3
321.9
329.5
334.7
53.0
57.8
51.9
50.8
29.6
10.1
-.6
-.9
-.7
322
102
28.9
28.3
10.2
10.4
42.8
44.1
44.9
46.0
339.5
346.8
348.0
352.4
-.4
-.3
-2
-.1
56.1
51.7
49.4
47.3
31.1
28.7
27.5
26.5
10.8
10.7
11.3
11.8
304.0
311.3
318.6
323.9
328.7
335.0
339.6
346.9
350.8
355.5
360.1
360.0
359.9
362.0
370.7
376.3
382.4
390.9
392.9
398.5
404.4
408.9
411.1
412.6
47.7
48.7
49.1
49.4
356.7
3602
362.0
363.1
.1
.4
.4
.3
46.4
49.2
52.1
56.4
25.8
27.2
28.8
31.1
12.2
12.9
13.4
14.1
49.6
49.9
50.5
3.0
3.1
3.2
3.3
3.4
3.9
4.0
4.4
4.6
4.4
4.7
4.5
4.9
5.3
5.6
5.4
55.5
55.3
56.9
57.8
31.7
31.7
32.7
33.5
13.6
14.5
14.9
15.3
416.3
422.2
429.4
438.2
443.7
451.3
456.5
462.1
57.3
60.8
62.4
64.1
32.9
34.7
35.6
36.6
15.3
15.7
16.4
16.9
57.4
57.8
67.5
67.5
69.1
68.0
39.7
39.6
40.6
40.1
17.4
17.9
18.6
18.9
75.2
77.7
78.8
83.6
45.8
47.4
48.0
50.7
20.2
21.0
21.6
21.7
612
62.7
5102
5.6
5.5
5.6
5.7
85.7
85.9
85.2
83.5
51.8
51.9
51.5
50.5
22.8
23.8
24.7
25.9
466.8
471.8
478.6
488.1
497.0
505.7
515.4
524.6
534.8
544.8
559.0
572.9
584.3
593.9
607.5
621.1
366.8
372.3
378.8
386.9
391.3
397.1
400.9
4052
409.4
414.0
420.4
429.6
439.7
452.0
459.8
467.2
473.7
482.4
497.8
66.1
70.2
72.5
75.2
5182
631.1
638.6
652.3
664.0
682.4
702.0
719.6
735.4
76.0
75.7
78.9
80.8
11.4
11.6
11.7
11.8
34.4
35.7
37.5
41.0
33.1
33.7
34.6
35.1
11.9
12.0
12.0
-1.1
122
46.2
47.4
47.9
49.0
10.3
10.8
11.5
11.3
352
35.7
36.0
36.6
12.3
12.3
12.5
12.7
46.7
46.7
45.7
46.5
-2.9
-3.6
-3.0
-1.6
-1.7
102
10.8
11.4
11.4
37.6
37.9
38.3
37.9
12.9
13.0
13.2
13.4
47.9
46.9
46.5
42.7
-2.4
-1.5
-1.3
-1.8
-1.5
-1.1
18.1
18.2
18.6
19.0
13.5
13.1
12.6
12.2
37.8
38.2
38.7
39.6
13.6
13.8
14.0
37.3
37.9
41.9
47.7
254.0
260.5
260.9
263.9
270.7
273.4
273.9
273.3
20.8
21.3
21.7
21.9
11.4
10.6
10.0
10.7
40.2
41.3
41.5
14.1
14.5
14.9
15.2
51.3
50.7
50.9
-.3
.8
23.5
23.8
24.0
24.1
10.0
11.1
11.6
12.2
40.9
40.8
40.4
40.3
152
15.3
15.4
15.5
54.9
50.8
49.8
47.4
46.3
50.6
52.8
56.6
-.9
-.6
.5
.3
-1
1.0
.3
-2
.4
-.1
-.8
.5
222
302.9
303.2
306.6
315.2
1955: 1
II
III
IV
1958: I
H
III
IV
326.2
334.6
340.6
346.9
349.4
355.2
358.6
365.8
371.5
373.7
377.5
372.1
366.6
367.6
378.4
391.4
1959: 1
||
III
IV
402.0
414.7
409.8
414.2
1960: 1
II
III
IV
426.1
425.8
426.4
424.6
274.8
281.9
282.5
285.8
294.2
297.1
297.9
297.4
1961:1
||
Ill
IV
425.8
435.2
444.1
456.7
298.3
302.4
307.4
314.1
273.7
277.6
282.2
288.4
24.5
24.8
25.2
25.7
12.1
11.4
11.7
12.4
41.4
42.8
43.4
15.6
15.8
15.9
16.1
1962' I
II
HI
IV
465.3
471.8
477.0
483.8
488.7
497.6
504.9
514.7
320.6
326.6
329.5
333.0
293.2
298.7
301.1
304.2
307.9
312.3
316.8
322.2
328.2
334.8
341.4
346.7
27.4
27.9
28.3
28.8
12.1
11.7
11.7
12.2
43.9
44.5
44.9
44.9
16.2
16.3
16.6
16.9
59.0
58.3
59.4
61.6
30.0
30.3
30.9
31.7
11.9
11.5
11.6
12.1
45.0
45.4
46.1
47.0
17.0
17.2
17.0
17.2
61.7
65.0
32.1
32.9
33.6
34.3
10.7
10.0
10.2
11.7
48.5
49.8
50.5
50.6
17.4
17.3
17.3
17.3
71.9
71.7
72.8
71.9
352.8
358.8
3662
377.1
3857
395.9
406.1
413.4
34.9
35.6
36.5
37.5
11.9
12.7
13.2
13.9
51.0
51.6
52.2
53.6
17.6
18.0
18.1
18.3
79.7
81.9
82.9
87.0
-1.1
-1.5
-1.9
41.2
547
185
902
-12
43.1
44.2
15.6
13.4
13.4
13.6
54.9
55.5
56.2
18.3
18.5
18.6
88.7
87.1
88.3
-2.7
-3.6
-1.0
45.1
45.8
47.0
48.3
12.5
12.0
12.9
13.3
57.2
57.8
59.0
58.9
19.1
19.7
19.7
19.3
85.4
84.3
85.5
88.6
-1.3
-1.7
-2.8
5.5
5.6
5.9
5.9
80.3
80.0
81.3
85.5
48.1
48.1
49.1
51.4
26.7
27.6
28.5
29.4
50.4
52.1
53.6
55.1
12.6
12.0
12.5
13.6
60.4
62.1
63.3
63.8
18.5
18.3
89.5
93.1
932
17.9
94.5
-4.7
-2.9
-3.0
-4.1
5.7
5.7
5.5
5.6
88.5
90.3
90.6
93.0
49.9
51.0
182
29.9
30.5
30.5
30.7
556.6
570.4
587.4
599.1
418.8
423.5
431.9
441.5
454.1
465.9
478.3
489.3
499.0
511.3
526.3
536.4
57.6
59.1
61.0
62.7
12.8
13.7
14.5
16.8
64.4
64.8
64.9
63.9
17.9
18.3
18.1
17.8
942
-4.9
-52
93.0
90.2
51.7
50.0
48.4
47.4
322
91.4
88.9
84.0
62
6.4
6.6
6.5
33.1
34.2
35.0
747.4
764.9
783.8
798.7
609.5
615.0
623.4
625.2
545.0
549.0
555.6
556.3
64.5
66.0
67.8
69.0
15.5
13.5
14.2
15.0
64.0
64.6
65.8
66.9
17.6
17.7
17.4
18.3
76.3
79.8
79.4
74.5
-8.8
-4.6
-6.6
6.2
5.7
5.4
52
44.7
44.4
44.9
42.1
36.7
39.0
41.4
43.1
808.1
827.9
839.0
849.0
14.7
18.0
18.5
18.4
18.0
87.3
89.2
91.1
93.7
-3.6
-4.7
-5.6
-4.5
4.8
4.9
4.9
4.6
86.1
88.9
91.7
93.6
48.8
50.7
542
44.3
45.3
46.0
55.7
462
866.3
887.8
901.3
918.7
18.6
14.2
16.9
17.4
98.8
99.1
-5.8
-5.8
-5.8
-9.0
5.2
4.6
5.3
5.9
99.4
100.4
104.3
114.0
59.4
60.1
62.8
68.3
46.5
47.9
50.1
52.5
-16.1
-21.7
-19.0
-23.4
5.7
5.2
5.0
6.1
128.3
130.8
129.3
135.4
79.1
54.1
54.0
57.0
60.8
1956' I . ..
||
|||
IV
1957: 1
II
Ill
IV
1963: 1
II
Ill
IV
1964: 1
II
Ill
IV
526.1
534.4
544.5
551.4
1965: 1
||
III
IV
1966: 1
II
Ill
IV ...'.
1967: 1
II
HI
IV
1968: 1
II
HI
IV '"."'.".'.
568.1
579.6
590.7
609.1
628.7
637.2
648.5
660.3
664.8
670.7
684.7
699.3
337.9
342.6
347.7
353.9
360.3
367.7
375.0
381.0
387.6
394.4
402.6
414.6
426.9
438.1
449.2
457.6
463.9
469.4
479.0
489.8
422
412
422
504.5
518.0
531.9
544.5
1971:1
II
III
IV
715.5
733.9
749.6
764.9
778.1
791.7
808.0
816.5
819.7
829.5
841.6
843.1
874.4
891.3
906.4
925.9
642.2
654.1
664.5
676.7
570.1
580.2
588.6
598.9
72.2
73.9
75.9
77.7
14.6
17.5
67.9
70.1
71.9
73.8
1972: 1
II
Ill
IV
1973: |
II
Ill
IV
955.5
971.0
1,001.6
1,043.3
1,080.8
1,098.6
1,127.0
1,171.7
701.4
716.9
731.2
755.4
617.8
630.4
642.3
664.2
683.2
700.0
716.1
735.3
83.6
86.5
88.9
91.3
15.0
16.6
19.9
24.9
75.3
76.3
79.6
82.2
100.3
102.4
105.3
108.7
23.4
28.4
32.0
45.1
85.3
82.9
84.1
84.8
1969: 1
II
Ill
IV
1970: 1
II
III
IV
..
783.5
802.4
82U
844.0
142
142
562
662
67.7
103.8
110.9
172
117.9
114.4
115.3
18.9
1182
16.5
16.5
_g
-22
-2.8
-12
-.9
-2
.3
-2
-.9
-1.4
-1.5
-1.4
-.6
-1.1
-1.0
1.0
2
-2
-.8
-.2
-.1
-.9
-.7
-.4
-.4
-4.9
-8.4
-62
-.9
-.8
872
85.8
78.9
78.7
802
75.9
Less:
Personal
outlays
Equals:
Personal
saving
216.3
220.6
223.3
231.6
235.4
237.5
238.7
238.5
17.4
15.7
19.4
Saving
as percentage
of DPI
DPI in
constant
(19817)
dollars
ments
1954: 1
II
Ill
IV
32.1
Equals:
DPI
32.3
33.3
33.8
34.5
10.5
10.8
11.1
312
Less:
Personal
tax and
nontax
266.1
269.6
276.5
282.5
287.1
291.3
291.6
291.6
-32
41.1
40.2
39.1
32.1
-1.6
-2.0
Personal
income
512
52.7
812
81.3
85.0
945.0
959.7
987.3
1,029.9
1,053.7
1,078.6
1,108.5
1,153.9
51.352.4
542
55.5
56.9
582
58.6
57.3
53.7
55.6
57.3
61.1
62.4
83.3
86.7
97.1
101.3
107.9
111.2
109.5
111.0
110.4
111.4
106.5
107.6
104.4
106.9
108.9
114.5
129.0
130.9
132.3
135.8
1352
136.8
141.9
148.3
16.4,
7.5
6.7
8.0
6.6
16.7
18.8
18.1
18.6
6.6
7.3
7.1
7.2
990.0
999.6
1,021.1
1,027.9
1,042.7
1,057.7
1,054.7
1,059.1
240.6
243.3
245.9
250.4
18.6
15.3
15.0
16.0
72
5.9
5.8
6.0
1,062.5
1,056.6
1,073.0
1,093.7
256.7
262.0
266.5
270.8
272.6
275.3
278.5
283.8
2882
290.4
295.1
296.9
296.6'
299.5
304.6
308.6
316,7
322.8
328.4
330.8
334.5
340.8
341.0
343.3
344.1
349.1
352.2
359.7
14.2
15.3
17.1
17.0
5.3
5.5
6.0
5.9
6.4
7.1
7.3
7.5
22.7
22.4
25.0
26.1
7.0
7.5
7.3
6.9
7.1
7.0
7.6
7.8
22.8
24.0
19.6
21.7
6.7
6.9
5.6
62
22.2
19.5
20.9
19.8
6.2
5.4
5.8
5.5
1,1012
1,122.3
1,140.0
1,159.6
1,170.0
1,180.5
1,188.3
1,202.2
1,204.4
1,214.3
1,219.5
1,220.0
1,211.4
1222.2
1,247.5
1,262.9
1,267.7
1,288.4
1,285.1
1,298.2
1,309.4
1,314.4
1,314.4
1,313.8
22.6
23.2
26.6
27.3
6.2
62
7.0
7.0
1,3282
1,347.6
1.362..6
1,3872
364.3
370.5
374.9
381.5
385.3
389.9
397.4
402.3
411.9
419.9
429.0
431.7
27.1
26.6
26.0
23.7
6.9
6.7
6.5
5.9
1,399.0
1,410.9
1,420.6
1,428.8
24.1
24.1
23.1
27.3
27.8
32.1
30.7
35.5
5.9
5.8
5.5
6.4
6.3
7.1
6.7
7.6
31.2
32.4
38.4
36.4
6.6
6.7
7.7
7.1
34.0
523.7
535.0
546.0
442.5
450.0
459.5
473.8
4842
489.5
499.0
504.7
36.0
41.2
6.6
6.5
6.7
7.6
1,438.9
1,449.3
1,464.8
1,491.4
1,5192
1,555.9
1,576.5
1,597.2
1,607.6
1,630.5
1,672.7
1,703.0
1,713.0
1,720.2
1,7412
1,762.9
555.0
562.9
573.4
583.3
5992
615.3
622.5
634.1
509.8
519.8
527.0
534.6
553.1
567.1
583.4
592.1
45.3
43.0
46.4
48.6
8.2
7.6
8.1
8.3
1,788.6
1,802.6
1,819.5
1,834.9
46.1
39.1
42.0
7.7
7.8
6.3
6.6
1,859.6
1,889.4
1,889.9
1,9082
639.5
653.7
674.3
687.7
697.7
716.5
732.5
741.5
604.0
625.3
637.4
35.5
38.5
49.0
50.3
5.6
5.9
7.3
7.3
1,908.5
1,927.9
1,967.8
1,985.6
648.8
659.0
671.6
678.5
48.9
57.4
60.9
62.9
7.0
8.0
8.3
8.5
1,990.6
2,020.1
2,045.3
2,045.2
761.9
780.9
792.4
8042
63.8
68.4
67.1
62.3
8.4
8.8
85
7.7
2,073.9
2,098.0
2,106.6
2,121.1
816.0
828.8
855.0
894.1
698.1
712.5
725.3
741.9
759.3
777.8
796.3
821.5
56.7
51.0
58.7
72.6
6.9
6.1
6.9
8.1
2,129.7
2,149.1
2,193.9
2,272.0
918.5
941.8
966.5
1,005.7
846.4
862.0
881.3
898.4
72.1
79.7
85.3
7.9
8.5
8.8
2,300.7
2,3152
2,337.9
2,382.7
6152
18.8
21.2
22.1
23.1
21.8
23.6
23.3
21.9
342
482
107.3
10.7
December 1992 • 37
SURVEY OF CURRENT BUSINESS
Table 4.—National Income and Disposition of Personal Income—Continued
[Billions of dollars; quarterly data are seasonally adjusted at annual rates]
Compensation of employees
Year and
quarter
National
income
Toy
Wages
and salaries
Supplements to
wages
and salaries
Proprietors' income
with IVA and
CCAdj.
Farm
Nonfarm
Rental
income
of persons
with
CCAdj.
Corporate profits with IVA and CCAdj.
Total
IVA
CCAdj.
Profits
before
tax
Profits
aftertax
Net interest
Personal
income
Less:
Personal
tax and
nontax
payments
Equals:
DPI
Less:
Equals:
Personal Personal
saving
outlays
Saving
as percentage
of DPI
DPI in
constant
(1987)
dollars
1974: |
||
Ill
IV
1,174.3
1,184.4
1,211.0
1,225.5
861.7
882.1
904.4
917.0
748.1
765.2
783.0
792.4
113.6
117.0
121.4
124.6
322
19.5
22.3
28.0
86.3
88.9
91.9
922
18.6
16.3
15.9
12.6
109.5
107.0
102.9
98.7
-33.0
-38.3
-51.5
-35.0
4.6
2.7
.5
-3.2
137.8
142.6
153.9
136.9
89.0
91.2
97.1
86.8
66.0
70.6
73.7
77.1
1,165.5
1,185.6
1,223.9
1,247.7
151.1
157.0
162.9
165.4
1,014.3
1,028.5
1,061.0
1,082.3
916.0
944.3
972.3
979.9
98.3
84.2
88.7
102.4
9.7
8.2
8.4
9.5
2,334.7
2,304.5
2,315.0
2,313.7
1975: 1
II .. .
Ill
IV
1,224.6
1,251.9
1,311.3
1,353.4
919.4
931.0
957.3
987.1
127.7
130.8
136.1
141.5
20.3
202
26.1
28.2
93.4
95.0
99.0
102.7
132
13.9
13.6
13.5
100.2
112.6
134.3
140.4
-12.7
-7.3
-12.2
-11.7
-5.6
-7.0
-8.2
-9.6
118.4
126.9
154.7
161.6
75.8
81.0
97.8
103.4
78.1
79.2
81.1
81.6
1,255.1
1,284.7
1,324.8
1,364.5
166.1
129.8
161.9
167.7
1,089.0
1,154.9
1,162.8
1,196.8
1,004.5
1,033.6
1,067.9
1,096.5
84.5
121.3
95.0
100.3
7.8
10.5
8.2
8.4
2,282.5
2,390.3
2,359.4
2,389.4
1976: 1
II
Ill
IV
1,399.9
1,419.4
1,445.4
1,477.2
1,021.9
1,045.5
1,069.6
1,096.2
791.8
800.2
821.2
845.6
871.1
889.2
908.3
929.8
150.9
156.3
161.3
166.5
21.3
17.5
17.1
17.3
110.1
113.7
115.3
119.4
13.6
12.4
11.4
11.0
151.2
146.0
146.0
145.0
-11.6
-15.5
-15.9
-16.6
-10.9
-12.2
-12.1
-11.6
173.7
173.8
174.1
173.2
108.4
1092
110.0
110.3
81.8
84.4
85.9
88.3
1,400.7
1,426.4
1,460.5
1,497.6
171.6
178.8
185.8
193.2
1,229.1
1,247.7
1,274.7
1,304.4
1,131.7
1,152.0
1,182.1
1,218.1
97.4
95.7
92.6
86.4
7.9
7.7
7.3
6.6
2,424.5
2,434.9
2,444.7
2,459.5
1977: |
||
Ill
IV
1,525.7
1,5862
1,647.4
1,677.0
1,124.5
1,161.0
1,193.3
1,230.4
949.9
980.8
1,007.3
1,038.0
174.6
1802
186.0
192.4
17.4
15.3
18.9
16.6
123.7
127.4
131.6
134.8
10.4
9.0
9.9
6.7
155.1
175.4
190.2
182.0
-22.3
-16.0
-10.6
-17.7
-11.6
-11.3
-10.1
-11.0
189.0
2028
210.8
210.6
121.5
129.7
135.1
134.8
94.7
98.0
103.5
106.5
1,534.6
1,575.0
1,626.8
1,668.8
205.7
206.4
209.1
218.9
1,328.9
1,368.6
1,417.7
1,449.8
1,255.6
1,284.7
1,317.0
1,356.2
73.4
83.9
100.7
93.7
5.5
6.1
7.1
6.5
2,463.0
2,490.3
2,541.0
2,556.2
1978: 1
II
Ill
IV
1,715.4
1,813.4
1,863.2
1,927.1
1,265.8
1,316.1
1,352.8
1,397.5
1,063.1
1,106.7
1,137.9
1,176.1
202.7
209.4
214.9
221.4
17.3
23.7
23.4
21.7
137.9
146.1
148.0
152.6
82
7.7
10.0
9.8
174.4
201.8
2062
216.4
-22.3
-24.9
-24.6
-28.4
-11.7
-12.8
-13.8
-14.3
208.4
239.5
244.5
259.1
137.5
154.0
158.0
167.8
111.8
118.1
122.9
129.1
1,712.3
1,783.6
1,838.8
1,896.8
2223
233.4
246.9
258.0
1,490.0
1,5502
1,592.0
1,638.8
1,387.5
1,447.9
1,482.6
1,522.1
102.6
102.3
109.4
116.7
6.9
6.6
6.9
7.1
2,587.3
2,631.9
2,6532
2,680.9
1979: 1
||
HI
IV
1,969.6
2,010.2
2,063.6
2,112.4
1,441.5
1,474.2
1,514.2
1,555.7
1,209.5
1,236.6
1,2702
1,304.8
232.0
237.6
243.9
250.9
27.0
24.3
24.9
22.8
151.2
156.0
160.9
160.0
8.1
6.7
7.9
10.7
204.8
204.7
203.0
197.6
-37.3
-41.7
-452
-422
-15.3
-17.2
-18.2
-18.6
257.3
263.5
266.4
258.4
168.2
174.1
178.1
173.4
136.9
144.3
152.8
165.6
1,947.9
1,995.1
2,063.8
2,125.7
264.6
273.0
286.1
297.1
1,563.6
1,599.7
1,653.9
1,701.4
119.7
122.5
123.9
127.2
7.1
7.1
7.0
7.0
2,6992
2,697.6
2,715.3
2,728.1
1980: 1
II
Ill
IV
2,163.4
2,136.8
2,189.7
2,302.9
1,596.5
1,617.8
1,649.6
1,713.6
1,337.7
1,353.9
1,379.9
1,434.9
258.8
264.0
269.7
278.7
142
.9
11.3
19.7
161.5
157.5
158.4
163.7
13.6
9.1
12.6
17.4
196.6
163.5
167.5
183.0
-54.4
-35.0
-43.0
-39.7
-19.6
-20.4
-20.7
-20.1
270.6
218.9
231.2
242.8
174.3
144.5
151.0
154.6
180.9
187.9
190.3
205.6
2,190.5
2,206.0
2,281.9
2,383.2
296.8
304.9
315.7
332.3
1,683.4
1,722.2
1,777.7
1,828.6
1,893.7
1,901.1
1,966.1
2,050.9
1,751.9
1,755.3
1,813.4
1,875.9
141.8
145.8
152.8
175.0
7.5
7.7
7.8
8.5
2,742.9
2,692.0
2,722.5
2,777.0
1981:|
II
HI
IV
2,378,7
2,400.3
2,475.7
2,475.3
1,766.0
1,797.3
1,835.0
1,863.6
1,473.4
1,500.3
1,532.8
1,556.0
292.6
297.0
3022
307.6
22.8
23.3
22.3
16.4
166.8
158.7
157.9
155.1
21.3
20.1
20.1
21.9
189.8
176.4
191.8
170.1
-39.4
-25.9
-18.9
-18.6
-21.5
-21.0
-20.3
-21.9
250.7
223.3
231.0
210.6
159.5
143.7
147.6
140.3
212.0
224.6
248.6
248.2
2,453.9
2,497.5
2,580.2
2,607.1
344.4
356.9
371.7
367.9
2,109.5
2,140.6
2,208.5
2,2392
1,929.8
1,964.5
2,009.4
2,026.8
179.7
176.1
199.1
212.3
8.5
82
9.0
9.5
2,783.7
2,776.7
2,814.1
2,808.8
1982: 1
||
HI
IV
2,474.3
2,524.1
2,540.2
2,551.5
1,887.8
1,908.1
1,927.6
1,940.4
1,572.1
1,586.9
1,602.3
1,611.8
315.7
321.2
325.3
328.6
15.8
162
11.5
10.2
144.1
156.4
158.9
169.6
21.2
20.0
22.4
24.1
146.1
152.4
157.1
150.3
-12.0
-9.4
-9.8
-8.6
-19.4
-17.1
-13.4
-9.6
177.4
178.9
180.3
168.6
114.4
114.0
114.6
109.9
259.3
271.0
262.6
256.8
2,626.7
2,679.9
2,710.4
2,746.8
3702
376.5
366.8
372.1
2,256.5
2,303.4
2,343.6
2,374.7
2,065.2
2,089.9
2,134.3
2,190.9
191.3
213.5
209.3
183.8
8.5
9.3
8.9
7.7
2,795.0
2,824.8
2,829.0
2,832.6
1983: |
II
Ill
IV
2,605.5
2,691.4
2,751.8
2,834.3
1,966.4
2,003.9
2,046.1
2,101.2
1,629.0
1,661.6
1,698.9
1,747.3
337.4
342.3
347.1
353.9
7.5
3.2
-7.5
6.3
170.8
182.4
190.0
193.8
23.5
23.3
19.3
22.2
177.5
214.6
229.5
229.1
.6
-8.4
-18.5
-7.6
3.4
11.1
14.3
12.9
173.5
211.9
233.7
223.8
113.6
133.0
145.7
141.6
259.7
263.9
274.5
281.8
2,7722
2,632.7
2,879.4
2,965.8
366.4
375.4
361.8
371.6
2,405.8
2,457.3
2,517.6
2,594.3
2,226.6
2,298.1
2,357.6
2,417.9
1792
159.2
160.0
176.3
7.4
6.5
6.4
6.8
2,843.6
2,867.0
2,903.0
2,960.6
1984: |
II
III
IV
2,972.9
3,037.4
3,088.3
3,134.4
2,160.9
2,208.3
2,250.3
2,288.1
1,791.4
1,833.7
1,871.1
1,903.9
369.5
374.7
3792
3842
31.4
15.2
16.7
21.9
205.1
216.3
219.6
217.7
264.1
270.8
260.5
261.3
258.5
254.0
229.3
220.1
155.1
152.6
141.8
136.3
288.7
304.5
317.2
321.1
3,062.1
3,121.7
3,192.1
3,242.5
378.3
387.5
401.2
413.4
2,683.9
2,734.2
2,791.0
2,829.1
2,466.4
2,521.1
2,556.2
2,606.5
217.4
213.1
234.8
222.6
8.1
7.8
8.4
7.9
3,033.2
3,065.9
3,102.7
3,118.5
3,198.0
3,243.9
3,289.7
3,341.9
2,328.6
2,362.8
2,397.3
2,442.5
1,938.7
1,968.4
1,998.9
2,039.1
389.9
394.4
398.4
403.3
28.0
25.9
14.4
17.8
229.1
233.1
240.3
250.9
-13.9
-7.0
1.1
3.5
-3.2
2.4
5.6
-3.8
19.5
23.7
30.2
37.7
1985: |
II
Ill
IV
22.8
22.3
24.0
24.3
22.1
21.6
17.3
14.0
49.2
56.7
59.2
56.9
220.8
218.0
229.5
231.8
125.2
124.8
129.8
1342
323.5
323.4
326.1
331.9
3,313.0
3,358.0
3,391.3
3,456.7
450.1
407.1
441.1
448.8
2,862.9
2,950.9
2,9502
3,007.9
2,672.4
2,722.1
2,791.6
2,828.7
190.5
228.8
158.6
179.2
6.7
7.8
5.4
6.0
3,123.6
3,189.6
3,156.5
3,178.7
1986: 1
3,397.4
3,423.5
3,444.9
3,486.0
2,067.4
2,085.4
2,115.0
2,153.9
12.8
32.1
20.6
23.6
34.1
27.9
20.7
42.4
258.9
260.3
265.8
260.9
122
10.7
7.0
4.7
27.7
15.4
6.6
-10.7
109.2
106.0
111.0
119.2
345.8
351.9
353.3
349.7
3,521.4
3,580.7
3,612.0
3,647.8
445.8
450.2
461.4
478.5
22
1.3
2.4
6.8
251.0
284.4
304.9
3112
140.2
157.9
169.1
176.0
352.5
358.2
362.3
368.6
474.0
535.5
511.8
528.6
322.1
342.9
353.0
372.2
-37.6
-15.7
-3.3
-13.5
48.8
47.4
44.8
37.9
38.1
40.0
37.6
33.9
368.9
345.7
323.1
334.1
195.5
207.2
213.4
226.0
214.1
202.0
190.5
200.0
374.9
376.5
391.1
408.1
433.8
454.9
462.4
459.8
510.8
530.4
527.7
542.0
5752
599.1
593.8
605.1
3,456.8
3,507.6
3,575.2
3,6532
3,730.0
3,758.3
3,795.4
3,864.3
2,8762
2,905.4
2,976.2
3,018.2
3,057.4
3,125.5
3,187.1
3,220.1
3,294.8
3,355.7
3,422.8
3,496.7
199.3
225.1
174.4
151.1
184.5
98.5
115.2
169.8
6.2
4.1
42
2.8
3,715.8
3,759.5
3,8142
3,918.5
3,967.7
4,037.9
4,102.9
4,195.2
4,305.2
4,357.4
4,3892
4,469.4
3,075.5
3,130.5
3,150.6
3,169.3
3,241.9
3,224.0
3,302.4
3,389.9
3,548.0
3,609.8
3,666.3
3,715.5
162.0
151.8
152.4
156.4
182.0
148.5
129.0
148.8
6.5
7.2
5.5
4.8
5.7
3.1
3.5
5.0
4.7
4.3
4.3
4.3
4.9
4.0
3.4
3.9
3,227.5
3,281.4
3,272.6
3,266.2
273.6
277.3
282.3
282.6
50.9
44.7
41.1
39.6
41.6
45.1
49.2
49.9
211.5
208.6
215.4
235.7
2,196.9
22323
2,278.9
2,336.7
410.2
414.5
4202
428.6
430.4
433.2
437.7
448.4
266.8
277.0
294.3
284.9
1987: 1 .
II
HI
IV
3,572.3
3,645.9
3,722.3
3,828.8
2,477.5
2,499.9
2,535.2
2,582.5
2,627.3
2,665.5
2,716.6
2,785.1
1988: 1
3,888.8
3,966.3
4,027.6
4,127.6
4,203.9
4,240.8
4,248.0
4,305.2
2,834.6
2,895.4
2,950.2
3,004.9
3,048.2
3,077.5
3,112.2
3,162.8
2,371.5
2,422.9
2,467.0
2,510.6
2,545.3
2,567.4
2,595.1
2,637.9
463.1
472.5
483.2
494.3
502.9
510.1
517.1
524.9
35.4
34.1
23.1
30.9
51.3
42.3
29.0
38.4
285.5
292.0
293.8
302.5
305.3
305.8
305.7
311.4
-9.6
-18.6
-21.6
290.1
268.7
263.1
264.6
282.6
315.6
338.0
343.3
352.1
364.2
365.3
: 378.3
369.4
369.9
357.3
354.5
4,400.7
4,475.3
4,479.3
4,517.9
3,223.7
3,281.2
3,320.5
3,339.6
2,686.1
2,735.7
2,768.2
2,781.4
537.6
545.5
552.3
5582
48.1
43.6
32.2
42.8
319.8
322.7
328.8
329.7
-16.2
-13.8
-9.5
-9.6
'• 367.6
I 384.0
351.4
344.0
-6.6
3.8
-32.6
-212
30.2
24.4
17.0
10.5
344.0
355.8
367.0
354.7
211.6
2182
224.0
221.0
457.6
457.6
456.0
471.4
4,571.7
4,640.5
4,692.6
4,751.9
609.4
624.6
627.3
623.8
3,962.3
4,015.9
4,065.3
4,128.1
3,789.2
3,833.2
3,908.0
3,938.8
173.1
182.7
157.3
189.3
4.4
4.6
3.9
4.6
3,516.8
3,523.9
3,513.7
3,511.6
4,493.0
4,5292
4,555.4
4,599.1
3,343.0
3,379.6
3,407.0
3,433.8
2,774.9
2,804.3
2,824.4
2,845.0
568.1
5752
582.6
588.7
34.3
41.3
29.5
37.9
3222
329.1
337.6
340.0
-12.4
-12.3
-10.3
-6.6
349.6
347.3
3412
347.1
6.7
9.9
-4.8
.7
5.3
5.1
9.3
14.1
337.6
332.3
336.7
332.3
216.3
209.4
209.6
207.4
456.2
444.4
450.5
446.9
4,752.8
4,806.9
4,846.2
4,907.2
616.8
617.2
618.6
622.3
4,136.0
4,189.7
4,227.6
4,284,9
3,9432
3,994.4
4,036.6
4,065.5
4.7
4.7
4.5
5.1
3,488.7
3,505.2
3,511.5
3,530.8
4,679.4
4,716.5
4,719.6
3,476.3
3,506.3
3,534.3
2,877.6
2,901.3
2,923.5
598.7
605.0
610.8
40.1
38.5
31.5
353.6
359.9
365.9
^.5
3.3
6.4
384.0
388.4
374.1
-5.4
-15.5
-9.7
23.3
27.0
29.7
366.1
376.8
354.1
229.7
232.7
2222
430.0
420.0
407.3
4,980.5
5,028.9
5,062.0
619.6
617.1
628.8
4,360.9
4,411.8
4,4332
4,146.3
4,179.5
4,229.9
192.8
195.3
191.0
219.4
214.6
232.3
203.3
4.9
5.3
4.6
3,565.7
3,576.0
3,580.5
II
HI
IV
II
III
IV
1989: 1
II
HI
IV
1990: 1
II
ill "."I""
IV
1991: 1
II
Ill
IV
1992- 1
||
Ill
-42
NOTE.-IVA Inventory valuation adjustment; CCAdj Capital consumption adjustment; DPI Disposable personal income.
-10.0
-13.9
-16.1
-17.8
-18.8
-26.1
-32.6
-31.7
3,295.2
3,241.7
3,285.7
3,335.8
3,380.1
3,386.3
3,407.5
3,443.1
3,472.9
3,450.1
3,455.7
3,480.9
SURVEY OF CURRENT BUSINESS
December 1992
U.S. International Transactions,
Third Quarter1992
By Christopher L Bach
HE u.s. CURRENT-ACCOUNT deficit decreased
T
to $14.2 billion in the third quarter of 1992
from $17.8 billion (revised) in the second quar-
$17.1 billion in the third quarter, following an
outflow of $29.7 billion in the second.
ter (table A).1 Increases in the surpluses on
both services and investment income and a decrease in net unilateral transfers more than offset
an increase in the merchandise trade deficit.
Much of the increase in the services surplus was
attributable to losses recovered from foreign reinsurers for damage caused by Hurricanes Andrew
and Iniki.
Recorded capital transactions shifted to net
outflows of $2.9 billion in the third quarter from
net inflows of $47.5 billion in the second. Large
swings in bank-reported claims and liabilities
accounted for the shift.
The statistical discrepancy (errors and omissions in recorded transactions) was an inflow of
U.S. dollar in exchange markets
In the third quarter, the dollar depreciated 7 percent on a trade-weighted quarterly average basis
against the currencies of 10 industrial countries
and 4 percent against the currencies of 22 OECD
countries and 4 newly industrialized countries in
the Far East (table B, chart i). Steady depreciation in July and August was partly offset by
appreciation during the European currency crisis
in September.
During the first 2 months of the quarter,
the dollar depreciated, reflecting the same economic conditions that existed in the second
quarter: Interest-rate differentials against dollar
assets widened further, as U.S. short-term rates
fell faster than European rates (chart 2); slow
economic growth in the United States continued,
i. Quarterly estimates of U.S. current- and capital-account components
are seasonally adjusted when significant seasonal patterns are present. The
accompanying tables present both adjusted and unadjusted estimates.
Table A.—Summary of U.S. International Transactions
[Millions of dollars, seasonally adjusted]
1991
Line
Lines in tables 1 and 10 in which transactions are included are indicated in ( )
1 Exports of goods, services, and income (1)
Merchandise, excluding military (2)
2
Services (3)
3
Income receipts on investments (11)
4
5 Imports of goods, services, and income (15)
Merchandise excluding military (16)
6
Services (17)
7
Income payments on investments (25)
8
9 Unilateral transfers (29)
10
11
12
13
U.S. assets abroad, net (increase/capital outflow (-))
(33).
U.S. official reserve assets, net (34)
U.S. Government assets, other than official reserve
assets, net (39).
U.S. private assets, net (43)
15
16
Foreign assets in the United States, net (increase/
capital inflow (+)) (48).
Foreign official assets, net (49)
Other foreign assets net (56)
17
18
Allocations of special drawing rights (62)
Statistical discrepancy (63)
19
Memorandum:
Balance on current account (69)
14
r
Revised.
p Preliminary.
January-September
1992
1991
I
704,914
415,962
163,637
125,315
-716,624
-489,398
-118,341
-108,886
174,262
100,636
38,128
35,498
II
174,910
103,324
40,371
31,215
III
175,832
104,151
41,777
29,904
IV
I
IK
III'
Change:
1992 Nil
3,089
3,348
437
1991
1992
544,314
326,222
133,385
84,707
19,310
18,111
13,109
11 910
-533,769 -560,570
-363,008 -394,540
-88,116
91 278
-82,645
-74,752
-26,801
-31,532
-3,162
7,893
525,004
308,111
120,276
96,617
181,169
107,946
44,724
28,499
180,028
107,464
44,112
28,452
183,117
110,812
44,549
27,756
-176,268 -176,594 -180,907 -182,856 -180,073
-118,962 -119,721 -124,325 -126,390 -125,168
29,589
-29,754 -30,226
-30,880
-28,773
-27,284
-26,828
-28,533
-26,240
-24,025
-190,018
132 022
-31,474
-26,522
-190,479
137350
-28,924
-24,205
-5,328
2,550
2,317
-7,812
-6,876
936
12,302
21 687
179,911
107,851
43,362
28,698
-696
-461
Change:
1991-92
14,199
4,115
-6,012
-4,273
-62,220
-640
-7,050
-10,368
-44,158
-4,250
37
-20,157
-20,194
-18,058
-24,370
-6,312
5,763
3,397
-353
1,014
1,225
1,952
488
-277
-385
4,538
3,833
2,359
-420
-1,057
-38
1,464
1,073
3,877
3,180
-2,179
-4,533
-71,379
-1,360
-7,644
-17,426
-44,947
-3,155
-1,150
-21,724
-20,574
-26,430
-26,029
401
66,980
-7,840
2,959
22,933
48,929
18,563
47,415
17,286
-30,129
18,052
83,264
65,212
18,407
48,573
5,650
13490
-4,178
7,137
4,115
18,818
12,819
36,110
21,192
-2,629
20,895
26,520
7738
25,024
-28,633
1 496
5,587
12,465
34,349
48,915
28,762
36,450
1 078
-3,713
1,660
-1,478
2,447
-8,410
-29,650
17,109
46,759
-3,531
-20,951
-17,420
-3,682
12,193
2,431
11 087
-7,218
-5,903
-17,802
-14,238
3,564
3,537
-37,943
-41,480
8,028
-437
—6,999
-108
-700
-33,989
SURVEY OF CURRENT BUSINESS
December 1992 • 39
the German economy was slowing. In August,
the dollar continued to depreciate, particularly
against the German mark. Concerted central
bank intervention on two occasions did little to
interrupt the decline of the dollar, which approached 1991 lows against the German mark by
the end of the month.
During September, pressures against the dollar ceased temporarily as most attention focused
on the mark and its relationship to other currencies in the Exchange Rate Mechanism (ERM)
of the European Monetary System (EMS) and be-
with prospects for a significant pickup uncertain; and evidence accumulated that industrial
countries abroad, including both Germany and
Japan, were experiencing substantial slowdowns
in economic growth.
In response to the slow U.S. economic growth,
the Federal Reserve eased monetary policy in
early July, and market participants expected further easing in the absence of a stronger recovery.
Meanwhile, rapid monetary growth in Germany
led the Bundesbank to tighten monetary policy in mid-July, despite evidence suggesting that
Indexes of Foreign Currency Price of the U.S. Dollar
December 1980=100
120 f
110
100
QQI
I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I | I I I I I I I I I I I I I I I I I I I
1988
1980
1990
-;
u 1<CM«tctesof22re^
tfe^ahds,Mew2$alartd,fl<p^
Date: U^r>pariraentofthet$asur^^d^*mori1hmfes,.
1991
1992
KOTJ& »—""•***»-*- <s»—^« «^f-&i,—
2, Currencies of Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, and United Kingdom.
Data: Federal Reserve Board. Monthly average rates. Index rebased by BEA.
,
,
US. Department of Commerce, Bureau of Economic Analysis
Table B.—Indexes of Foreign Currency Price of the U.S. Dollar
[December 1980=100]
1991
Trade-weighted average against 26 currencies
l
Trade-weighted average against 10 currencies2
Selected currencies:3
Canada
European currencies:
Belgium
France
Germany
Italy
Netherlands
Switzerland
United Kingdom
Japan
. .
19 91
1992
III
IV
I
II
III
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
98.7
95.5
97.2
96.8
93.4
97.0
96.8
96.2
93.7
96.0
97.3
98.4
98.7
97.0
94.7
93.9
92.2
94.1
102.6
96.9
97.0
96.8
90.0
100.3
99.8
96.8
94.2
94.7
96.9
99.5
98.8
97.1
94.5
90.8
89.1
90.2
95.6
94.9
98.4
99.9
100.5
95.1
94.3
94.5
95.9
96.7
98.9
99.7
99.3
100.3
100.0
99.7 , 99.6
102.2
1132
1057
1053
121.8
121.1
105.0
119.5
95.3
129.9
108.9
110.2
126.5
109.9
126.5
105.5
121.6
101.7
117.3
88.5
1390
91.8
85.1
82.6
1306
85.7
80.4
82.4
82.1
74.4
86.1
85.9
82.4
79.5
130.6
130.0
121.2
135.4
135.4
130.5
125.9
85.4
81.7
85.1
83.0
77.2
73.1
89.3
83.1
89.1
83.0
85.5
80.5
139.2
132.2
132.7
123.5
136.0
136.3
131.9
128.5
64.9
61.6
61.2
59.4
63.9
62.2
61.7
60.9
102.7
118.3
80.3
1274
83.2
78.8
129.8
59.7
105.3
121.0
82.3
130.5
85.3
81.7
132.1
60.8
108.0
123.9
84.5
1338
87.6
84.7
136.2
63.2
107.2
122.5
83.9
1321
86.9
85.3
133.7
63.6
105.5
119.8
82.5
1305
85.5
83.7
129.8
62.2
102.3
116.3
80.0
1274
83.0
80.0
126.6
60.4
130.0
62.1
1. Currencies of 22 OECD countries—Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France,
Germany, Greece, Iceland, Ireland, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom—plus Hong Kong, Republic of Korea, Singapore, and Taiwan. Data: U.S. Department of the Treasury. End-of-month rates for months; averages of end-of-month rates for quarters.
Sept.
1992
82.5
77.8
97.1
110.5
75.9
1202
78.7
74.9
122.4
59.9
94.2
107.9
73.6
1176
76.4
72.8
120.8
60.1
94.5
108.4
73.8
125.9
76.5
71.7
127.2
58.3
2. Currencies of Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, and United
Kingdom. Data: Federal Reserve Board. Monthly and quarterly average rates. Index rebased by BEA.
3. Data: Federal Reserve Board. Monthly and quarterly average rates. Indexes prepared by BEA.
SURVEY OF CURRENT BUSINESS
4O • December 1992
tween the EMS and those currencies linked to
the EMS through the European Currency Unit
(ECU). Market participants began to question
the relationship among currencies when disparities in interest rates and monetary policies and
uncertainties about the current status of monetary unification led to a crisis in confidence.
Consequently, a currency crisis ensued, leading to European central bank interventions of
unprecedented size, large changes in interestrate differentials within Europe, a small cut in
German official interest rates, two currency realignments, and the suspension of the pound
sterling and the Italian lira from the ERM. The
French franc came under pressure, but it stabilized amid intervention purchases of francs and
a rise in French interest rates. Outside the EMS,
severe pressures developed on the Nordic currencies, resulting in sizable market interventions
and considerable increases in short-term interest rates, particularly in Sweden. The Finnish
markka's peg to the ECU was also suspended.
Initially, the dollar was not directly involved in
the crisis, as most of the pressures were among
European currencies. However, during the middle weeks of September, the dollar appreciated
as dollar investors sought refuge from European
currencies, and European financial intermediaries sold marks to meet the demand for dollars.
Once the pressures subsided late in September,
the dollar depreciated toward the levels of late
August, particularly against the German mark.
Fluctuations of the dollar against the Japanese
yen in August and September were narrower than
against the German mark, with the dollar gradually depreciating to a historical low against the
yen at the end of the quarter. Dollar depreciation against the yen in mid-September reflected
some repatriation of capital by Japanese companies with the approach of the fiscal half-year close
on September 30, some inflows to Japan in response to a sharp rebound in the Japanese stock
market, and some flows into yen-denominated
assets in response to developments in the EMS.
The dollar was little changed during the quarter
against the currencies of the newly industrialized
'countries in the Far East.
Current Account
Merchandise trade
The merchandise trade deficit increased to $26,5
billion in the third quarter from $24.6 billion in
the second. The increase resulted from a larger
increase in imports than in exports.
Exports.—Exports increased $3.3 billion, or 3 percent, to $110.8 billion in the third quarter; volume
increased 4 percent. Nonagricultural exports
accounted for two-thirds of the current-dollar
increase.
Nonagricultural exports increased $2.2 billion,
or 2 percent, to $99.2 billion in the third quarter; volume increased 3 percent (table C, chart 3).
U.S. and Foreign Interest Rales
1089
1990
1. Interest rates for 3-month interbank loans or short-term paper for other Group of 10 countries and Switzerland
weighted by average total trade shares in1972-76.
Data: Federal Reserve Board.
U.S. Department of Commerce, Bureau of Economic Analysis
1991
1992
SURVEY OF CURRENT BUSINESS
There were sizable increases in industrial supplies
and materials, in consumer goods, and in automotive products. Capital goods excluding civilian
aircraft continued to exhibit steady growth, led
by computers and parts, semiconductors, and
telecommunications equipment. However, this
growth was virtually offset by a sharp drop in
civilian aircraft, leading to little change in total
capital goods exports for the quarter. The decline in the value of the dollar since mid-ippi has
probably encouraged U.S. exports, particularly
nonagricultural exports. However, that stimulative effect has been tempered by slower economic
growth in industrial countries abroad. For the
first 3 quarters of 1992 (at a seasonally adjusted
annual rate), the pace of expansion in capital
goods exports was just one-half the pace for the
year 1991. Most of the slowdown was in capital goods to Western Europe and Japan. Capital
goods have continued to show strength to Latin
America and to "other" countries in Asia and
Africa, where growth has not slowed as much
and the demand for capital goods has remained
strong, though weaker than in 1991. Industrial
supplies and materials have also slowed sharply,
as a result of only small increases in building
materials and paper products and decreases in
chemicals, energy products, and metals over 1991.
Consumer goods have increased at about the
same pace as in 1991.
Agricultural exports increased $1.1 billion, or
11 percent, to $11.6 billion in the third quarter
of 1992; volume increased 12 percent. In current dollars, soybeans, after declining in the three
previous quarters, increased to a record high
and accounted for more than one-half of the increase. The increase in soybean exports was the
result of (i) European, Canadian, and Chinese
rapeseed harvests that were considerably smaller,
thereby increasing the demand for oilseeds, and
(2) concerns that the U.S.-European Community conflict over agricultural trade subsidies
December 1992 • 41
would reduce the availability of soybeans, leading
European importers to accelerate purchases.
Imports.—Imports increased $5.3 billion, or 4
percent, to $137.4 billion in the third quarter;
volume increased 3 percent. Three-fourths of
the current-dollar increase was accounted for by
nonpetroleum imports.
CHART 3
Growth in U.S. Merchandise
Nonpetroleum Exports and Imports
1987;MOO
260
240
EXPORTS
Gonsumef goods (nonfood)*
Capital goods*
220
200
180
160
140
120
100
60
220
IMPORTS
200
180
160
140
120
100
80
1987
1988
•Except automotive
1989
1990
1991
1992
** Excluding petroleum
U.S. Department of Commerce, Bureau of Economic Analysis
Table C.—U.S. Merchandise Trade, Current and Constant (1987) Dollars
[Balance of payments basis, millions of dollars, quarters seasonally adjusted]
Constant (1987) dollars
Current dollars
1991
1990
1990
1991
III
IV
I
\V
1992
1991
1992
1991
III
III"
IV
I
II'
III"
Exports
Agricultural products
Nonaoriculturai products .
388,705 415,962 104,151 107,851 107,946 107,464 110,812
40,186 40,127 10,170 10,791 10,823 10,467 11,602
348,519 375,835 93,981 97,060 97,123 96,997 99,210
360,836 387,373
35,127 35,469
325,709 351,904
Imports
Petroleum and products
Nonpetroleum products
497,558 489,398 124,325 126,390 125,168 132,022 137,350
62,297 51,178 13,122
12,195 10,368 12,931 14,214
435,261 438,220 111,203 114,195 114,800 119,091 123,136
452,796 455,958 117,336 118,653 119,578 125,701 129,916
52,077 48,640 13,096 11,625 11,689 12,727 13,198
400,719 407,318 104,240 107,028 107,889 112,974 116,718
r
Revised.
*• Preliminary.
97,544 100,758 101,151 101,175 104,734
9,524
9,672
9,080
9,396 10,557
88,464 91,234 91,479 91,779 94,177
42 • December 1992
SURVEY OF CURRENT BUSINESS
Nonpetroleum imports increased $4.0 billion,
or 3 percent, to $123.1 billion in the third quarter; volume also increased 3 percent (table C,
chart 3). Nearly all of the increase in current
dollars was accounted for by consumer goods,
which have risen strongly since early 1991, and
by capital goods, which have risen strongly for
several years. By area, the largest increases in
consumer goods were from China and Japan, and
the largest increases in capital goods were from
the newly industrialized countries in the Far East
and Japan.
For the first three quarters of 1992 (at a seasonally adjusted annual rate), imports of both
consumer goods and capital goods have accelerated substantially over the year 1991, with these
two categories accounting for nearly two-thirds
of the step-up in nonpetroleum imports. Both
have been encouraged by the gradual pickup in
the U.S. economy. Capital goods from the newly
industrialized countries in the Far East (mainly
computers, peripherals, and parts, semiconductors, and communications equipment) have accounted for more than one-half of the step-up
in total capital goods in 1992 over 1991. Capital goods from Western Europe and Japan have
also accelerated in 1992. Consumer goods have
increased even more strongly than capital goods,
dominated by the step-up from China, other
developing countries in Asia, and the newly industrialized countries in the Far East. China
now accounts for 18 percent of consumer goods
imports, up from 11 percent early in 1991.
Petroleum imports increased $1.3 billion, or 10
percent, to $14.2 billion in the third quarter of
1992. Both prices and volume increased. The
average price per barrel increased to $18.55 from
$17.47. The average number of barrels imported
daily increased to 8.39 million from 8.10 million.
Consumption and inventories increased, while
domestic production decreased.
Balances by area.—The deficit with the developing countries increased in the third quarter of
1992, while the deficit with the industrial countries decreased. The deficit with the developing
countries increased $3.5 billion, to $15.1 billion,
as a result of increases in the deficits with China
and with the newly industrialized countries in the
Far East; an increase in the surplus with Latin
America was partly offsetting. The deficit with
the industrial countries decreased $1.4 billion, to
$12.4 billion; the deficit with Canada decreased,
that with Western Europe increased, and that
with Japan was unchanged.
For the first three quarters of 1992 (at a seasonally adjusted annual rate), the deficit increased
to $91.2 billion from $73.4 billion for the year
1991. Nearly three-fourths of the increase was accounted for by an increase in the deficit with the
industrial countries; this deficit increased $12.4
billion, to $45.3 billion, mostly as a result of a decrease in the surplus with Western Europe. The
deficits with Japan and Canada increased by only
small amounts. The deficit with the developing
countries increased $4.9 billion, to $48.6 billion;
a large increase in the deficit with countries in
Asia was partly offset by a large increase in the
surplus with Latin America.
Service transactions
The surplus on service transactions increased to
$15.6 billion in the third quarter from $12.6 billion
in the second. Receipts increased to $44.5 billion from $44.1 billion, and payments decreased
to $28.9 billion from $31.5 billion.
Travel receipts decreased slightly to $13.4 billion; these receipts have changed little for several quarters, as the slowdown in industrial
economies abroad has restrained overseas travel
to the United States. Travel payments were
unchanged at $10.9 billion.
Passenger fare receipts increased slightly to $4.2
billion, and passenger fare payments decreased
slightly to $2.9 billion.
Other transportation receipts increased slightly
to $6.2 billion. Other transportation payments
increased to $6.0 billion from $5.7 billion as
a result of higher freight and port expenditure
' payments.
Other private service receipts increased to $12.7
billion from $12.4 billion. Other private service
payments dropped sharply to $4.2 billion from
$6.8 billion, largely as a result of losses recovered
from foreign reinsurers for damage caused by
Hurricanes Andrew and Iniki in late August and
mid-September. (The full amount of recoveries
are recorded on an accrual basis when disasters
occur, rather than when claims are presented to
the insurance companies.)
Transfers under U.S. military sales contracts
decreased slightly to $2.7 billion, and direct
defense expenditures abroad decreased to $3.2
billion from $3.4 billion.
Investment income
The surplus on investment income increased to
$3.6 billion in the third quarter from $1.9 billion
in the second. Receipts of income on U.S. assets abroad decreased to $27.8 billion from $28.5
SURVEY OF CURRENT BUSINESS
billion, but this decrease was exceeded by a drop
in payments of income on foreign assets in the
United States to $24.2 billion from $26.5 billion.
Direct investment income.—Receipts of income on
U.S. direct investment abroad edged up $0.2 billion in the third quarter to $13.3 billion. Over the
first three quarters of 1992 (at a seasonally adjusted annual rate), receipts have increased only
slightly, but they are up 7 percent from receipts
in 1991. Whereas the slowdown in industrial
economies abroad has held down the rise in receipts, depreciation of the dollar since mid-1991
has raised reported receipts.
Payments of income on foreign direct investment in the United States decreased to $0.4
billion from $1.1 billion. The decrease was more
than accounted for by an increase in operating
losses by petroleum affiliates of European parents and by banking affiliates of Japanese parents;
manufacturing earnings increased. The rise in
manufacturing earnings since mid-i99i and so
far in 1992 has led to a swing in total income
payments to gains of $0.8 billion at a seasonally
adjusted annual rate in 1992 from losses of $3.7
billion in 1991. This swing is partly attributable
to the gradual pickup in the U.S. economy.
Portfolio investment income.—Receipts of income
on other private investment abroad decreased to
$12.5 billion in the third quarter from $13.8 billion in the second, and payments of income on
other private investment in the United States decreased to $14.1 billion from $15.7 billion. Both
receipts and payments were reduced by sharply
falling interest rates. Receipts of income on U.S.
Government assets increased to $1.9 billion from
$1.6 billion, and payments of income on U.S.
Government liabilities increased slightly to $9.8
billion.
Unilateral transfers
Net unilateral transfers decreased to $6.9 billion in the third quarter from $7.8 billion
in the second. U.S. Government grants accounted for much of the decrease; disbursements dropped, and there were no receipts from
coalition partners in Operation Desert Storm.
Capital Account
Recorded capital transactions shifted to net outflows of $2.9 billion in the third quarter from
net inflows of $47.5 billion in the second. Large
changes both in U.S. assets abroad and in foreign
assets in the United States accounted for the shift.
December 1992 •
17.S. assets abroad
U.S. assets abroad increased $20.2 billion in the
third quarter, following no change in the second. Large inflows on U.S. bank-reported claims
shifted to a small outflow, and outflows for U.S.
purchases of foreign securities increased.
U.S. official reserve assets.—U.S. official reserve
assets decreased $2.0 billion in the third quarter,
following a $1.5 billion decrease in the second.
Holdings of German marks decreased in the third
quarter, both as a result of an ongoing program
with German monetary authorities to reduce U.S.
holdings through a series of off-market transactions and as a result of U.S. intervention in
the foreign exchange markets. Both activities
occurred in the first 2 months of the quarter.
Claims reported by banks.—U.S. claims on foreigners reported by U.S. banks increased $0.4
billion in the third quarter. There were large,
nearly offsetting movements within the total:
Banks' own claims payable in dollars and foreign currencies decreased $12.2 billion, while
banks' domestic customers' claims increased $12.6
billion.
Banks' own claims on foreigners payable in
dollars were sharply reduced by $26.4 billion in
the third quarter, as banks scaled back their
interoffice claims with financial centers in the
Caribbean and the United Kingdom in July and
August. This scaling back in claims was approximately matched by reductions in liabilities on
the same financial centers. In part, these reductions reflected continued restraint on the demand
for bank credit abroad due to slowing economic
growth and to the attractiveness of bonds as an
alternative to bank credit, given the substantial
declines in long-term interest rates over the past
2x/2 years. These sharp reductions in claims were
partly offset by strong demand for funds from
banks in Japan to improve asset quality, to meet
accounting requirements for the fiscal half-year
close, and to meet credit demands in response to
developments in the European Monetary System
(EMS).
Banks' own claims payable in foreign currencies increased $14.2 billion in the third quarter.
This surge in demand for currencies by Japan
and Western Europe, part of which was probably related to the European currency crisis in
September, was met by matched borrowing of
currencies from abroad.
Banks' domestic customers' claims increased
$12.6 billion. The increase was more than ac-
43
SURVEY OF CURRENT BUSINESS
44 • December 1992
counted for by an increase in negotiable and
readily transferable instruments, largely U.S.
money market mutual funds' purchases of newly
issued certificates of deposit by foreign banks in
the United Kingdom.
Net U.S. purchases of foreign bonds were $5.5
billion in the third quarter, unchanged from the
second. Foreign new issues in the United States
increased to $7.3 billion from $5.4 billion, reaching a level second to that attained in the first
quarter of 1990, when there was a large restructuring of Latin American debt. Issuers were
attracted by a 3O-basis-point decline in U.S. interest rates at a time when most European rates were
up 10-20 basis points and by the absence of the
currency instability that plagued the European
capital markets. New issues by foreign private
corporations increased more than 50 percent to
$3.8 billion.
Foreign securities.—Net U.S. purchases of foreign securities increased $5.9 billion in the third
quarter to a record $14.1 billion. U.S. investors
resumed their heavy net purchases of foreign
stocks, while net purchases of foreign bonds were
unchanged.
Net U.S. purchases of foreign stocks were $8.6
billion in the third quarter, more than triple
the net purchases of $2.8 billion in the second.
Purchases, which were strong throughout the
quarter, may have been boosted late in the quarter when U.S. mutual and pension funds moved
heavily into foreign stocks. Net purchases from
Western Europe, much of which were from the
United Kingdom, were $6.4 billion, up from $0.2
billion. British transactions included a large single new issue in July. Purchases from France
were strong in July but tapered off sharply in
August and September among concerns about
the relationship between the French and German currencies and about the sharp drop in the
French stock market. Purchases from Switzerland were strong in September, when investors
sought an alternative to the weak German stock
market. Net purchases from Japan were $1.6 billion, up from $0.3 billion; purchases were strong
in all 3 months but were especially heavy in August, when the Japanese Government announced
a stimulative program of increased Federal expenditures and aid to banks suffering from poorly
performing real estate loans.
Direct investment.—Net capital outflows for U.S.
direct investment abroad edged up to $7.2 billion
in the third quarter from $7.0 billion in the second. The increase resulted from a $0.9 billion
increase in reinvested earnings, which was partly
offset by decreases of $0.7 billion in intercompany
debt outflows and $0.1 billion in equity capital
outflows.
Foreign assets in the United States
Foreign assets in the United States increased $17.3
billion in the third quarter, down sharply from
an increase of $47.4 billion in the second. A large
shift to a decrease in foreign official assets accounted for the slowdown. Inflows into private
assets were about unchanged.
Foreign official assets.—Foreign official assets in
the United States decreased $7.7 billion in the
third quarter, following an increase of $20.9 billion in the second (table D). Large decreases
in foreign holdings of both U.S. Treasury securities and bank deposits in September more
Table D—Selected Transactions with Official Agencies
[Millions of dollars]
1991
1991
Line
1 Changes in foreign official assets in the United States,
net (decrease -) (table 1, line 49).
Industrial countries!
Members of OPEC2
Other countries
2
3
4
I
II
January-September
1992
Ill
IV
I
II'
Ill''
Change:
1992 ll-lll
1991
Change:
1991-92
1992
18,407
5,650
-4,178
4,115
12,819
21,192
20,895
-7,738
-28,633
5,587
34,349
28,762
-8,629
-5,304
32,340
-8682
-3,309
-2,699
1,830
158
-4,288
8,245
3,204
1,023
8,592
6072
2,459
12,661
13,427
-2,125
9,593
7,430
3,061
-3,369
20857
5,186
-12,962
11 833
-6,327
23,747
12069
3395
18,885
23902
9,722
-4,862
1,014
3,877
1,225
-1,057
1,464
1,952
488
4,538
2,359
-2,179
5 Changes in U.S. official reserve assets, net (increase
-) (table 1, line 34).
5,763
660
13,672
-353
Activity under U.S. official reciprocal currency
arrangements with foreign monetary authorities:3
6
6a
6b
Foreign drawings, or repayments (-), net
Drawings
Reoavments
r
Revised.
p Preliminary.
1. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
40
-40
40
-40
143
-143
40
-40
143
-143
103
-103
2. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries.
3. Consists of transactions of the Federal Reserve System and the U.S. Treasury Department's Exchange Stabilization Fund.
SURVEY OF CURRENT BUSINESS
than accounted for the decrease. The September
transactions were concentrated among industrial
countries and were probably related to the crisis
in the European currency markets.
Liabilities reported by banks.—Liabilities reported
by U.S. banks to private foreigners and international financial institutions, excluding U.S.
Treasury securities, increased $19.9 billion in the
third quarter.
Banks' own liabilities payable in dollars increased $4.4 billion in the third quarter. U.S.owned banks sharply reduced their liabilities
to Caribbean financial centers, reflecting a major scaling back of interoffice liabilities in July
and August; this scaling back was approximately
matched by a similar-sized reduction in claims on
the same financial centers. These reductions with
the Caribbean were partly offset by a small increase in borrowing in September to meet a slight
pickup in loan demand in the United States. In
contrast, foreign-owned (mostly Japanese) banks
borrowed heavily from overseas for several reasons. First, largely in August, foreign-owned
banks in the United States borrowed from abroad
to fund a pickup in U.S. loan demand that
was created when a few large U.S. corporations
switched their borrowing to the bank credit market from the commercial paper market. Second,
throughout September, Japanese-owned banks in
the United States borrowed from abroad to fund
parent banks in Japan to improve asset quality,
to meet accounting requirements for the fiscal
half-year close, and to fund credit demands in
response to developments in the EMS. Third, to
meet temporary funding requirements, foreignowned banks substituted overnight borrowing
from the Eurodollar markets for funds previously
obtained in the U.S. federal funds market.
Banks' own liabilities payable in foreign currencies increased $14.4 billion in the third quarter.
Most of the borrowing was to meet demand for
foreign currencies in Japan and Western Europe,
part of which was probably related to the European currency crisis in September. These inflows
were matched by a similar-sized outflow in banks'
own claims payable in foreign currencies.
U.S. Treasury securities.—Net foreign purchases
of U.S. Treasury securities fell sharply to $5.4 billion in the third quarter from $10.3 billion in
the second. A drop in U.S. interest rates relative to foreign rates and the dollar's weakness
against European currencies throughout most of
the quarter led to large net sales by international
investment funds in the Caribbean and by conti-
December 1992 •
nental European countries. Partly offsetting these
net sales were Japanese net purchases throughout
the quarter, reflecting in part a shift in holdings from U.S. agency bonds to U.S. Treasury
securities, and British net purchases in August.
Other U.S. securities.—Net foreign purchases of
U.S. securities other than U.S. Treasury securities
dropped sharply to $3.1 billion from $10.3 billion. Net sales of U.S. stocks accelerated, while
net purchases of U.S. bonds slowed.
Net foreign sales of U.S. stocks accelerated to
$4.0 billion from $1.5 billion. The sluggish pace
of expansion in the United States, low consumer
and business confidence levels, and high unemployment levels overshadowed unexpectedly good
corporate earnings. Sales by the United Kingdom
were due partly to profit taking as the dollar appreciated over the pound early in the quarter and
partly to the sharp rebound in British stock prices
and repatriation of assets after the United Kingdom suspended its participation in the European
Exchange Rate Mechanism. Swiss, German, and
Canadian investors all shifted from net purchases
to net sales.
Net foreign purchases of U.S. bonds slowed
to $7.1 billion from $11.8 billion. New issues
sold abroad by U.S. corporations dropped to $5.5
billion from $7.1 billion but remained relatively
strong. The Eurobond market was shaken by
many of the same fears that affected all European
capital markets—namely, concerns about monetary unification, exchange-rate relationships both
before and during the currency crisis, and the
course of monetary policies. Consequently, newissue activity declined despite a faster drop in
Eurobond rates than in U.S. long-term rates. The
share of new issues denominated in dollars increased to 63 percent from 52 percent, partly as a
result of the currency instabilities within Europe.
Net foreign purchases of U.S. agency bonds
dropped sharply to $1.1 billion from $5.0 billion, as Japanese investors sold agency bonds in
exchange for U.S. Treasury issues.
Direct investment.—Foreign direct investment in
the United States shifted to net outflows of $3.4
billion in the third quarter from net inflows of
$5.3 billion in the second. Most of the shift
was accounted 'for by intercompany debt, which
shifted to net outflows of $2.3 billion from net
inflows of $4.0 billion. Equity capital inflows
decreased to $2.0 billion from $4.2 billion. Reinvested earnings decreased to -$3.0 billion from
—$2.9 billion.
Tables i through 10 follow. H
45
46 • December 1992
SURVEY OF CURRENT BUSINESS
Table 1.—U.S. International Transactions
[Millions of dollars]
Not seasonally adjusted
(Credits +; debits-)1
Line
1991
1991
II
1
2
3
4
5
6
7
8
9
10
11
12
13
14
Merchandise adjusted excluding military2
Services3
Transfers under U.S. military agency sales contracts4
Travel
Passenger fares
Other transportation
Royalties and license fees5
Other private services5
U.S. Government miscellaneous services
income receipts on U S assets abroad
Direct investment receipts
Other private receipts
U.S. Government receipts
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
Merchandise adjusted excluding military2
Services3
Direct defense expenditures
Travel
Passenger fares
Other transportation
Royalties and license fees5 ...
Other private services5
U.S. Government miscellaneous services
Other private payments
U.S. Government payments .. ..
Unilateral transfers net
U S Government grants4
U.S. Government pensions and other transfers
Private remittances and other transfers6
U.S. assets abroad, net (increase/capital outflow (-))
U.S. official reserve assets, net7
Gold
Reserve position in the international Monetary Fund
Foreign currencies
U.S. Government assets, other than official reserve assets, net
U.S. credits and other long-term assets
Repayments on U.S. credits and other long-term assets8
U.S. foreign currency holdings and U.S. short-term assets, net ...
U S. private assets net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
U.S. claims reported by U.S. banks, not included elsewhere
Foreign assets in the United States, net (increase/capital inflow
Foreign official assets in the United States, net
U.S. Government securities9
U.S. Treasury securities
Other 10
Other U.S. Government liabilities11
U.S. liabilities reported by U.S.
banks, not included elsewhere
Other foreign official assets12
.
Other foreign assets in the United States net
Direct investment
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
.. .
U.S. liabilities reported by U.S. banks, not included elsewhere
Seasonally adjusted
1992
III
I
IV
II "
1992
1991
II
III''
III
I
IV
II'
\\\P
704,914
176,942
173,604
179,935
180,516
182,062
180,203
174,910
175,832
179,911
181,169
180,028
183,117
415,962
106,310
100,141
107,922
108,852
110,491
105,933
103,324
104,151
107,851
107,946
107,464
110,812
163,637
10,691
39,430
2,517
44,640
2,556
42,482
3,049
43,178
2,994
43,047
2,816
47,684
2,693
40,371
2,517
41,777
2,556
43,362
3,049
44,724
2,994
44,112
2,816
44,549
2,693
48,757
15,627
23,625
12,121
3,778
5,812
14,841
4,917
6,114
12,188
3,868
6,082
12,099
3,833
5,963
13,470
4,006
6,109
15,924
5,121
6,296
12,150
3,878
5,858
12,608
4,063
6,017
13,244
4,308
6,099
13,663
4,233
6,055
13,511
4,114
6,154
13,444
4,211
6,189
17,799
46,444
693
4,262
10,796
145
4,288
11,713
212
5,155
12,003
137
4,579
13,566
144
4,739
11,630
279
4,753
12,595
301
4,370
11,453
145
4,484
11,838
212
4,578
11,948
137
4,872
12,762
144
4,857
12,381
279
4,966
12,745
301
125,315
49,221
67,990
8,104
31,202
12,232
17,259
1,712
28,822
10,458
16,339
2,026
29,530
12,164
15,779
1,587
28,486
12,848
14,069
1,568
28,524
13,255
13,751
1,518
26,587
12,150
12,527
1,910
31,215
12,125
17,259
1,831
29,904
11,539
16,339
2,026
28,698
11,297
15,779
1,622
28,499
12,950
14,069
1,480
28,452
13,086
13,751
1,615
27,756
13,303
12,527
1,926
-190,479
-716,624
-177,292
184,249
-184,500
174186
-190,659
194544
-176,594
-180,907
-182,856
-180,073
190018
-489,398
-119,427
124329
-129,722
-122,633
-131,420
137612
-119,721
-124,325
-126,390
-125,168
-132,022
137350
-118,341
-16,215
-30,210
-3,944
-32,798
-3,550
-28,709
-3,588
-28,041
-3,619
-32,339
-3,439
-32,423
-3,241
-29,589
-3,944
-29,754
-3,550
-30,226
-3,588
-30,880
-3,619
-31,474
-3,439
-28,924
-3,241
-36,958
-10,636
-23,297
-10,150
-2,825
-5,763
-12,190
-3,278
-6,082
-6,429
-2,489
-3,848
-8,520
-2,435
-5,719
-11,783
-3,205
-5,615
-13,887
-3,508
-6,133
-9,445
-2,706
-5,806
-9,622
-2,755
-5,953
-9,963
-2,792
-5,816
-10,859
-2,846
-5,845
-10,855
-3,052
-5,656
-10,893
-2,930
-5,997
-3,984
-25,154
-2,097
-6,065
-1,012
-6,056
-1,056
-6,791
-1,026
-6,226
-1,030
-6,636
1 080
-4,011
-1,015
-6,545
-1,041
-6,174
1 061
-6,780
-4,222
-629
-507
-496
-631
-563
-1,002
-6,197
^89
1 013
-6,232
-489
-629
-507
-496
-631
-108,886
3,675
-73,575
-38,986
-27,655
750
-18,690
-9,715
-27,122
254
-17,532
-9,843
-26,069
1,005
-17,513
-9,561
-23,512
1,385
-15,343
-9,554
-26,828
547
-17,532
-9,843
-26,240
834
-17,513
-9,561
-24,025
872
-15,343
-9,554
-975
-26,900
-1,466
-15,710
-9,724
-14,080
-9,775
-27,284
1,121
-18,690
-9,715
-24,509
-654
-26,522
-1,088
-15,710
-9,724
1078
-563
-24,205
-350
-14,080
-9,775
8,028
4,546
-5,869
-4,693
-6,933
7359
-6,703
4,115
-6,012
-4,273
-6,999
7812
-6,876
24,487
-3,462
-12,996
8,214
-1,986
-2,620
-3,085
-2,490
8,214
-1,986
-600
-687
-646
-930
-812
-796
-793
-3,196
-3,667
-3,344
-3,401
-3,303
-3,233
78
-1,080
-3,271
-2,620
-3,069
78
-1,478
-3,292
-3,085
-1,146
-3,581
-3,417
-62,220
-6,628
-11,690
-40,544
-5,053
-2,085
-21,637
-7,050
-10,368
-44,158
-4,250
37
-20,1157
5,763
1,014
3,877
1,225
-1,057
1,464
1,952
1,014
3,877
1,225
-1,057
1,464
1,952
6
-23
17
1,232
-172
-23
17
1,232
172
168
111
1
1,631
173
118
-447
-1,051
877
-177
-367
6,307
-190
72
1,132
-114
3,986
3,397
-12,123
16,522
-1,002
-1,056
754
-71,379
-27,135
-45,017
-9,138
2,188
-11,783
-18,771
-8,473
-12,403
5,526
-4,753
2,304
-1,846
66,980
18,407
17,116
15,815
1,301
1,600
-1,668
1,359
48,573
11,497
16^41
34,918
-504
-203
3,204
-8,382
12,055
-468
-273
-168
-173
-118
-996
2,243
72
1,132
-107
-347
-315
-420
-937
-1,163
953
-1,781
1,269
197
-1,056
839
23274
-8,731
-14,103
7644
3,681
-11,783
17426
-7,128
-12,403
2,304
-1,846
909
-80
-137
-203
-385
-1,163
1,023
-1,781
1,199
197
-137
-21,724
7,181
-14,103
2,959
22,933
48,929
18,563
47,415
17,286
12,819
13,694
12,619
1,075
21,192
15,449
14,909
540
96
5,534
113
20,895
12,825
11,126
1,699
598
7,547
75
-7,7:38
589
115
4,115
6,098
5,624
474
654
-2,732
95
7,137
7,322
13,289
15,212
18,818
29
-1,306
10,012
36,110
5,680
1,408
4,832
-2,629
-3,820
26,520
5,311
10286
10,333
25,024
-3,361
5,364
3,076
-1275
-27,411
1,575
8,508
725
23,465
1,942
-4,474
1,141
24,789
1,660
883
-1,478
-6,137
2,447
613
-6,410
4,023
-29,650
410
17,109
-7,680
-20,929
10,708
1,624
-31,679
15,261
2,078
-16,397
10,782
3,931
-20,174
12,023
3,076
-18,539
13,136
2,458
-17,222
13,844
4,474
-24,558
12,638
1,930
-26,538
15,625
3,551
-8,597
-7,359
-15,956
-14,341
-6,703
-21,044
-1,684
4,115
2,431
-5,075
-6,012
-11,087
-2,945
-4,273
-7,218
1,096
-6,999
-5,903
-9,990
-7,812
-17,802
-7,362
-6,876
-14238
23,545
47,967
18,090
48,101
17,892
12,819
13,694
12,619
1,075
21,192
15,449
14,909
540
96
5,534
113
20,895
12,825
11,126
1,699
598
7,547
-75
-7,738
589
912
875
-8,202
-1,000
-219
115
4,115
6,098
5,624
474
654
-2,732
95
7,834
8,019
13^89
15,212
19,430
641
-1,306
10,012
35,148
4,718
1,408
4,832
-3,103
-4,294
27,207
5,998
10,286
10,333
25,630
-2,755
5,364
3,076
-1,275
-27,411
1,575
8,508
725
23,465
1,942
-4,474
1,141
-13,678
-1,078
777
4,659
1,835
-12,433
-30,060
-73,436
45,296
16,429
-13,117
9,219
3,547
-24,188
11,842
1,701
-21,800
13,774
3,461
-13,781
15,137
4,974
-11,710
8,028
-3,682
4,546
4,195
-10,645
-5,869
-16,514
-4,565
-4,693
-9258
6,330
-6,933
-405
979
-80
-4,178
-3,772
-3,553
3,656
-4,178
-3,772
-3,553
-628
-937
2,243
-277
3,137
10,943
3,137
10,943
4,551
-273
-38
4,764
15,859
4,764
15,859
383
-1,051
887
-996
1,269
-23,219
1,269
-23,219
-942
-468
-437
2,403
2,403
-344
-914
3,180
-8,382
12,030
-1,150
-7,009
-8,221
-3,202
-9,061
-8,221
421
3,986
-969
-3,155
-15,075
-8,703
-3,889
-15,809
-8,703
-219
-114
-2,490
-44,947
-11,692
-11,305
-41,322
-8,067
-11,305
-298
6
-190
1
1,631
111
-858
-3,521
-551
n.a.
-440
-323
n.a.
19,945
421
-942
-298
-344
-914
383
-828
4,551
-551
n.a.
-440
-323
912
875
-8,202
1000
n,a.
19,945
62
63
63a
64
65
66
67
68
69
Statistical discrepancy (sum of above items with sign reversed) ....
Of which seasonal adjustment discrepancy
Memoranda:
Balance on merchandise trade (lines 2 and 16)
Balance on services (lines 3 and 17)
.....
Balance on investment income (lines 1 1 and 25)
Balance on goods,
services, and income (lines 1 and 15 or lines 64,
13
65 and 66)
Unilateral transfers, net (line 29)
Balance on current account (lines 1 ,15, and 29 or lines 67 and 68) 13
See footnotes on page 64.
-350
-603
SURVEY OF CURRENT BUSINESS
December 1992
•
47
Table 2.-U.S. Merchandise Trade
[Millions of dollars]
Seas anally adji sted
Notse asonally a Jjusted
1991
Line
1931
I
A
II
1991
1992
I
IV
III
II r
1
III''
1992
I
IV
III
II
IK
III*
Balance of payments adjustments to Census trade data:
EXPORTS
military grant shipments . ..
421,729 102 759 107641 101468 109861 111113 112 924 108060 101806 104655 105 477 109,791 110207 109,896 112940
Adjustments:
2
Private gift parcel remittances
293
71
66
70
3
Gold exports, nonmonetary
225
184
38
3
4
5
6
Inland U.S. freight to Canada2
U.S.-Canadian reconciliation adjustments, n.e.c., net3
Merchandise exports transferred under
U.S. military agency sales contracts
identified in Census documents4
Other adjustments net5
7
8
Equals: Merchandise exports, adjusted to balance of payments basis
excludina "military" (table 1. line 2)
-4,970 -1 137
-1 315
-288
83
68
70
71
66
70
12
75
115
184
38
3
-1 126 -1 159 -1,548
-1,954
-2,132
-1,779
-241
-402
-444
-533
-309
86
-477
415 962 101 589 106 310 100 141 107922 108 852 110491 105933
-1 137 -1 126
-288
-309
100 636 103 324
86
-1 159 -1,548
-241
-477
83
68
70
12
75
115
-1954
-2132
-1,779
-402
-444
-533
104151 107851 107 946 107464 110812
IMPORTS
q
Merchandise imports, Census basis ' (general imports)
487,125 115,261 118,882 123,828 129,154 122 218 130 632 136838 118302 119176 123825 125 822 124753 131234 136,577
Adjustments:
m
11
12
13
14
15
Electric energy
Gold imports nonmonetary
Inland freight in Canada2
U.S.-Canadian reconciliation adjustment, n.e.c., net3
Merchandise imports
of U.S. military agencies identified in Census
documents4 .
Other adjustments net67
87
949
2525
-1,190
-98
21
299
654
-284
-31
22
203
650
-309
-21
22
216
591
-300
-28
22
231
630
-297
-18
21
701
-289
-18
22
369
714
-267
-50
22
335
689
-249
-23
21
299
654
-284
-31
22
203
650
-309
-21
22
216
591
-300
-28
22
231
630
-297
-18
21
701
-289
-18
22
369
714
-267
-50
22
335
689
-249
-23
1ft
excluding "military" (table 1 line 16)
B
489398 115920 119427 124329 129 722 122633 131 420 137 612 118962 119721 124 325 126390 125 168 132 022 137 350
Merchandise trade, by area 8and country, adjusted to balance of payments
basis, excluding military:
EXPORTS
1
Total all countries (A-6)
2
3
4
5
6
7
8
9
10
11
Western Europe
European Communities
Belgium and Luxembourg
France
Germany9
Italy
Netherlands
United Kingdom
Other
Western Europe, excluding EC
12
13
14
15
Canada3
Japan
Australia, New Zealand, and South Africa 10
Australia .
16
Eastern Europe
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
415,962 101,589 106,310 100,141 107,922 108,852 110,491 105,933 100,636 103,324 104,151 107,851 107,946 107,464 110,812
116,802
101,278
10,692
15,338
20,759
8,449
13,259
21,515
11,266
15,524
30,465
26,282
2,980
4,115
5,099
2,113
3,411
5,591
2,973
4,183
30,387
26,384
2,720
3,795
5,779
2,270
3,399
5,638
2,783
4,003
26,267
22,896
2,520
3,652
4,951
1,731
2,611
4,785
2,646
3,371
29,683
25,716
2,472
3,776
4,930
2,335
3,838
5,501
2,864
3,967
31,120
27,501
2,497
4,145
5,526
2,366
3,854
5,936
3,177
3,619
28,347
24,901
2,466
3,642
4,977
2,273
3,099
5,609
2,835
3,446
26,296
23,131
2,486
3,281
4,748
2,088
2,909
4,947
2,672
3,165
30,288
26.125
2,967
4,100
5,073
2,099
3,382
5,571
2,933
4,163
29,521
25,634
2,638
3,679
5,608
2,209
3,319
5,466
2,715
3,887
27,250
23,755
2,608
3,773
5,132
1,800
2,726
4,955
2,761
3,495
29,743
25,764
2,479
3,786
4,946
2,341
3,832
5,523
2,857
3,979
30,910
27,313
2,485
4,127
5,498
2,346
3,811
5,913
3,133
3,597
27,522
24,174
2,393
3,534
4,827
2,207
3,016
5,442
2,755
3,348
27,392
24,086
2,582
3,407
4,941
2,170
3,044
5,143
2,799
3,306
85,006
47,213
20,205
12,077
22,618
11,881
20,506
11,313
21,677
11,942
22,068
12,199
23,877
11,197
21,728
11,774
20,078
11,898
21,962
11,590
21,247
11,846
21,719
11,879
21,948
12,040
23,209
10,941
22,619
12,430
2,248
8,255
1,852
1,884
2,209
2,310
1,812
2,203
2,165
1,843
1,821
2,278
2,313
1,805
2,136
4,838
1,384
941
1,004
1,509
1,279
1,230
1,394
1,323
936
1,109
1,470
1,225
1,217
1,507
Latin America and Other Western Hemisphere
Brazil
Mexico
Venezuela
Other
63,233
6,137
33,140
4,596
19,360
13,392
1,153
7,058
950
4,231
15,940
1,416
8,434
1,208
4,882
16,514
1,861
8,495
1,182
4,976
17,387
1,707
9,153
1,256
5,271
17,702
1,363
9,755
1,219
5,365
19,142
1,402
10,364
1,401
5,975
19,033
1,319
10,209
1,463
6,042
13,247
1,144
6,979
943
4,181
15,473
1,366
8,190
1,172
4,745
17,147
1,921
8,821
1,225
5,180
17,366
1,706
9,150
1,256
5,254
17,568
1,359
9,676
1,212
5,321
18,623
1,360
10,089
1,361
5,81 £
19,884
1,365
10,668
1,529
6,322
Other countries
in Asia and Africa810
Asia810
Members of OPEC
China
Hong Kong
Korea, Republic of
Singapore
Taiwan
Africa810
Members of OPEC
90,225
81,184
11,196
6,261
8,099
14,876
8,727
12,684
8,660
1 703
22,015
19,741
2,428
1,362
1,930
3,901
2,415
2,964
2,179
392
22,659
20,448
2,743
1,591
1,997
3,656
2,361
3,144
2,115
385
22,194
20,036
2,852
1,587
2,110
3,541
1,880
3,334
2,078
458
23,357
20,959
3,173
1,721
2,062
3,778
2,071
3,242
2,288
468
22,672
20,600
3,319
1,611
1,948
3,870
2,058
3,179
1,990
398
24,495
22,051
3,286
1,888
2,214
3,459
2,562
3,727
2,245
532
23,543
21,097
2,766
1,645
2,250
3,160
2,272
3,251
2,323
361
21,760
19,535
2,404
1,342
1,910
3,848
2,411
2,921
2,132
379
22,021
19,865
2,658
1,549
1,940
3,558
2,290
3,059
2,063
378
23,140
20,857
2,961
1,650
2,190
3,704
1,943
3,482
2,196
483
23,304
20,927
3,173
1,720
2,059
3,766
2,083
3,222
2,269
463
22,450
20,413
3,296
1,592
1,932
3,826
2,052
3,146
1,957
392
23,816
21,426
3,181
1,838
2,154
3,366
2,484
3,627
2,194
523
24,732
22,097
2,899
1,705
2,351
3,341
2,354
3,419
2.503
383
390
199
134
57
134
57
260389
18439
136,744
65404
3986
32,000
61,023
4,720
34,264
66303
5,156
36,406
63,375
4,906
35,736
66,348
5,150
36,296
67,474
5,108
35,364
64,543
5,323
37,598
65,855
5,104
39,853
International organizations and unallocated
199
Memoranda:
33
34
35
Industrial countries88
Members of OPEC
Other countries8
See footnotes on page 64.
67659
4,577
34,074
67974
5,145
35,733
66,377
5,483
38,631
63,066
4,872
37,995
64909
3,941
31,587
65,757
4,442
33,125
SURVEY OF CURRENT BUSINESS
48 • December 1992
Table 2.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Not seasonally adjusted
Line
1991
1991
I
II
Seasonally adjusted
1991
1992
III
II r
I
IV
III''
1
II
1992
II r
I
IV
III
III''
B Merchandise trade, by area and country, adjusted to balance of payments
basis, excluding military8—Continued:
IMPORTS
36 Total, all countries (A-16)
37
38
39
40
41
42
43
44
45
46
Western Europe
European Communities
Belgium and Luxembourg
France 9
Germany
Italy
Netherlands
United Kingdom ..
Other
Western Europe excluding EC
47
48
49
50
Canada3
Japan
Australia New Zealand and South Africa 10
Australia
51
Eastern Europe
52
53
54
55
56
Latin America and Other Western Hemisphere
Brazil
.
Mexico
Venezuela
Other
57
58
59
60
61
62
63
64
65
66
Other countries
in Asia and Africa8 10
Asia810 .
Members of OPEC
China
Hong Kong
Korea, Republic of
Singapore
Taiwan
Africa810
Members of OPEC
67
489,398
115,920
101,884
85,700
4,110
13,181
26,025
11,675
4,851
18,258
7,600
16,184
24,900
20,903
1,030
3,153
6,576
2,876
1,023
4,410
1,835
3,997
25,388
21,332
1,060
3,315
6,371
2,851
1,115
4,675
1,945
4,056
24,848
21,055
928
3,341
6,072
2,922
1,375
4,539
1,878
3,793
26,748
22,410
1,092
3,372
7,006
3,026
1,338
4,634
1,942
4,338
25,016
21,137
1,016
3,366
6,396
2,795
1,169
4,558
1,837
3,879
27,472
23,187
1,139
3,752
7,093
3,027
1,314
4,904
1,958
4,285
27,943
23,873
1,203
3,625
7,092
3,229
1,575
5,176
1,973
4,070
25,581
21,475
1,058
3,240
6,759
2,954
1,053
4,527
1,884
4,106
25,442
21,378
1,062
3,322
6,384
2,857
1,119
4,685
1,949
4,064
24,851
21,058
928
3,342
6,074
2,922
1,376
4,537
1,879
3,793
26,010
21,789
1,062
3,277
6,808
2,942
1,303
4,509
1,888
4,221
25,569
21,603
1,038
3,441
6,540
2,856
1,194
4,657
1,877
3,966
27,600
23,295
1,144
3,770
7,126
3,041
1,320
4,926
1,968
4,305
27,898
23,836
1,201
3,619
7,083
3,224
1,573
5,166
1,970
4,062
93,008
91,502
21,862
22,687
24,312
20,885
22,532
23,241
24,302
24,689
24,042
23,169
26,305
22,531
24,209
24,180
22,427
23,320
24,369
20,930
22,534
23,253
23,678
23,999
24,536
23,688
26,424
22,638
24,167
24,148
3,970
945
1,070
1,058
897
926
959
891
971
1,071
1,057
871
947
963
890
1,799
496
404
444
455
481
421
555
509
405
443
442
492
423
554
62,971
6,843
31,495
8,177
16,456
14,980
1,706
7,191
2,083
4,000
15,851
1,817
7,995
1,856
4,183
15,844
1,597
7,891
2,189
4,167
16,296
1,723
8,418
2,049
4,106
15,949
1,892
8,146
1,707
4,204
17,390
1,950
9,158
1,831
4,451
17,742
1,829
8,970
2,243
4,700
15,332
1,751
7,374
2,111
4,096
15,889
1,820
8,018
1,861
4,190
15,825
1,596
7,891
2,175
4,163
15,925
1,676
8,212
2,030
4,007
16,239
1,933
8,307
1,715
4,284
17,468
1,959
9,199
1,838
4,472
17,693
1,826
8,951
2,227
4,689
134,264
119,717
15,185
18,969
9,279
16,973
9,947
23,020
14,286
8,381
30,050
26,473
3,766
3,550
1,955
3,899
2,266
5,091
3,418
2,161
31,517
27,763
3,687
4,010
2,013
4,104
2,406
5,410
3,719
2,260
36,362
32,696
3,904
5,622
2,653
4,538
2,519
6,325
3,625
2,014
36,335
32,785
3,828
5,787
2,658
4,432
2,756
6,194
3,524
1,946
33,050
30,193
3,640
5,043
2,070
3,857
2,524
5,720
2,816
1,341
36,342
32,112
3,816
5,682
2,234
4,076
2,716
6,020
4,197
2,423
42,092
38,043
4,246
7,863
2,771
4,542
2,954
6,573
3,996
2,113
30,822
27,189
3,824
3,659
2,013
4,009
2,331
5,237
3,474
2,186
31,615
27,853
3,696
4,032
2,021
4,114
2,413
5,426
3,727
2,265
36,362
32,714
3,883
5,637
2,658
4,541
2,522
6,332
3,606
2,000
35,465
31,961
3,782
5,641
2,587
4,309
2,681
6,025
3,479
1,930
33,697
30,814
3,669
5,153
2,116
3,943
2,580
5,849
2,841
1,345
36,506
32,261
3,832
5,709
2,245
4,095
2,729
6,048
4,213
2,431
42,000
37,974
4,223
7,852
2,767
4,535
2,950
6,564
3,972
2,097
293,305
33,071
163,022
71,151
8,307
36,462
72,509
8,175
38,743
72,389
8,467
43,473
77,256
8,122
44,344
73,819
6,986
41,828
78,139
8,394
44,887
77,964
8,989
50,659
73,075
8,425
37,462
72,667
8,194
38,860
72,404
8,417
43,504
75,159
8,035
43,196
75,420
7,033
42,715
78,501
8,426
45,095
77,843
8,934
50,573
119,427 124,329
129,722 122,633 131,420 137,612 118,962 119,721 124,325 126,390
125,168 132,022
137,350
International organizations and unallocated
Memoranda:
68
69
70
Industrial countries88
Members of OPEC
Other countries8
BALANCE (EXCESS OF EXPORTS +)
71
72
73
74
75
76
77
78
79
80
81
Total, all countries
Western Europe
European Communities
Beloium and Luxemboura
France .
.
Germanyy 9
itaiy
: ::::: :
Netherlands
United Kinadom
Other
Western Europe excluding EC
-73,436 -14,331 -13,117 -24,188 -21,800 -13,781 -20,929 -31,679 -18,326 -16,397 -20,174 -18,539 -17,222 -24,558 -26,538
:
: ;;:: ::::...: ::...:.::.:
82
83
84
85
Canada3
japan
Australia New Zealand and South Africa 10
Australia
86
Eastern Europe
87
88
89
90
91
Latin America and Other Western Hemisphere
Brazil
Mexico ...
Venezuela
Other
92
93
94
95
96
97
98
99
100
101
Other countries
in Asia and Africa810
Asia810
Members of OPEC
China
Hong Kong
Korea, Republic of
Singapore
Taiwan
Africa810
Members of OPEC
102
International organizations and unallocated
14,918
15,578
6,582
2,157
-5,266
-3,226
8,408
3,257
3,666
-660
5,565
5,379
1,950
962
-1,477
4,999
5,052
1,660
480
-763
-592
-581
2,388
1,181
1,138
186
2,284
963
838
-53
-8,002 -1,657
-44,289 -10,610
1,419
1,841
1,592
311
-1,121
-1,191
1,236
246
768
2,935
3,306
1,380
404
-2,076
-422
6,104
6,364
1,481
779
-1,647
875
1,714
1,327
-110
-2,116
-691
-870
-429
2,500
867
922
2,685
1,378
1,340
1,785
705
877
-371
-260
-839
-754
-742
1,283
.
-344
-2,344
-1,141
1,334
-229
699
-905
4,707
4,650
1,909
860
-1,686
-855
2,329
1,044
1,049
57
-1,694 -2,026 -2,625 -1,974 -2,428 -2,481 -2,349
-9,004 -11,928 -12,747 -10,970 -11,334 -12,406 -11,422
4,079
4,256
1,576
357
-776
-648
2,399
2,697
1,680
431
-942
3,733
3,975
1,417
509
-1,862
5,341
5,710
1,447
686
-1,042
-236
-212
-2,299
-2,142
-1,054
1,471
-23
829
-78
879
1,249
-601
-510
-834
2,200
781
766
-1,122
1,350
418
882
2,529
1,014
969
2,617
1,256
1,256
1,696
516
787
-177
-298
-242
-369
-957
-506
250
1,381
-756
-2,407 -1,287 -i,959 -2,588 -3,215 -1,548
-9,340 -11,407 -12,120 -11,648 -11,697 -11,718
4,285
907
814
1,151
1,413
886
1,244
1,274
872
750
1,221
1,442
858
1,173
1,358
3,039
888
537
560
1,054
798
809
839
814
531
666
1,028
733
794
953
1,322
325
930
1,441
30
938
1,329
1,155
-574
-599
1,369
-950
-774
-503
-477
-698
1,017
1,247
1,037
1,341
1,633
262
-1,588
-706
-553
1,645
-3,581
2,904
-133
-1,133
231
-44,039
-38,533
-3,989
-12,708
-1,180
-2,097
-1,220
-10,336
-5,626
-6,678
-8,035
-6,732
-1,338
-2,188
-25
390
199
-32,916
-14,632
-26,278
-5,747
-4,321
-4,462
14<
-2,127
-1,239
-1,769
89
-401
439
-648
699
670
264
604
-1,007
809
1,291
1,091
-16
735
-529
-548
-510
-607
1,609
1,206
1,239
-395
-793
-488
-430
-780
1,165
1,161
1,524
1,342
-1,168
85
1,753
1,752
-8,858 -14,168 -12,978 -10,378 -11,847 -18,549
-7,315 -12,660 -11,826 -9,593 -10,061 -16,946
-944
-1,052
-321
-1,480
-655
-530
-2,419 -4,035 -4,066 -3,432 -3,794 -6,218
-596
-543
-122
-521
-16
-20
-654
-997
-1,382
-617
13
-448
-154
-682
-45
-685
-£39
-466
-2,266 -2,991 -2,952 -2,541 -2,293 -3,322
-1,604 -1,547 -1,236
-826
-1,952 -1,673
-1,875 -1,556 -1,478
-943
-1,891 -1,752
134
57
-2,085
-9,062
-7,654
-1,420
-2,317
-103
-161
80
-2,316
-1,342
-1,807
-416
-454
172
-689
555
890
2,191
-461
1,717
-9,594 -13,222 -12,161 -11,247 -12,690 -17,268
-7,988 -11,857 -11,034 -10,401 -10,835 -15,877
-1,324
-922
-609
-373
-651
-1,038
-2,483 -3,987 -3,921 -3,561 -3,871 -6,147
-416
-184
-528
-91
-81
-468
-1,194
-117
-S37
-543
-729
-556
-123
-579
-598
-528
-245
-596
-2,367
-1,664
-1,887
-2,850
-1,410
-1,517
-2,803
-1,210
-1,467
-2,703
-2,421
-2,019
-1,908
-3,145
-1,469
-1,714
134
57
-9,029
-3,511
-7,768
-8,811
-2,885
-6,900
199
-884
-953
Memoranda:
103
104
105
Industrial countries88
Members of OPEC
Other countries8
See footnotes on page 64.
-4,850 -11,366 -10,953
-3,598 -3,747 -2,966
-t,669 -9,209 -7,938
-5,845 -11,762 -14,898
-1,841 -2,911 -4,117
-6,095 -6,256 -12,664
-8,166
-4,484
-5,875
-6,910
-3,752
-5,735
-7,946 -13,958 -11,988
-1,925 -3103 -3,830
-7,351 -7,497 -10,720
SURVEY OF CURRENT BUSINESS
December 1992 •
49
Table 2—U.S. Merchandise Trade—Continued
[Millions of dollars]
Not seasonally adjusted
Line
1991
1991
1
C
Merchandise trade, by principal end-use category, adjusted to balance of
payments basis, excluding military:
1
Merchandise exports, balance of payments basis, excluding military (A-8)
2
3
Agricultural products
Nonaoricultural products
4
5
6
7
8
9
10
11
12
13
14
Nonagricultural (fish, distilled beverages, etc.)
Fish and shellfish
15
III
II
415,962 101,589
106,310
40,127
375,835
10,630
90,959
9,199
97,111
Foods, feeds, and beverages
35,737
8,970
Agricultural
Grains and preparations
31,746
13,284
3,483
5,228
3,993
3,872
5,979
4,618
7,979
3,466
763
1,516
1,182
934
1,391
1,006
3,991
3,270
wheat
Corn
.r::: :::: :: :":: r::::
Soybeans
Meat products and poultry
Vegetables, fruits, nuts, and preparations
Other agricultural foods feeds and beverages
Industrial supplies and materials
16
17
18
19
20
Agricultural
Raw cotton
Tobacco, unmanufactured
Hides and skins, including furskins
Other agricultural industrial supplies
21
22
23
24
25
Nonagricultural
Energy products
Fuels and lubricants11
Coal and related fuels
Petroleum and products
Seasonally adjusted
1992
IV
I
1992
1991
IIr
IIP
100,141 107,922 108,852 110,491 105,933
I
II
100,636
103,324
9,958
95,975
9,800
90,836
9,366
93,958
9,234
9,777
8,627
8,312
3,528
965
1,279
703
1,080
1,636
1,365
8,374
3,517
1,128
1,289
816
1,144
1,447
1,450
7,529
3,299
763
1,483
811
973
1,424
1,022
1,236
1,027
922
738
1,403
1,186
26,719
27,143
27,923
2,142
564
379
301
898
2,386
796
435
372
783
1,963
558
473
337
595
24,837
3,320
3,289
1,481
1,535
24,577
3,717
3,701
1,370
1,859
24,757
3,268
3,236
1,191
1,600
III
IV
I
II r
\\\P
107,464
110,812
10,170
93,981
10,791
97,060
10,823
97,123
10,467
96,997
11,602
99,210
8,285
9,175
9,650
10,059
9,445
10,589
7,232
2,765
721
1,030
1,012
906
1,440
1,109
8,364
3,592
906
1,487
1,095
950
1,509
1,218
8,621
3,628
1,093
1,228
1,075
1,043
1,606
1,269
8,711
3,685
1,260
1,170
987
1,098
1,644
1,297
8,429
3,483
965
1,202
926
1,073
1,579
1,368
9,626
3,877
1,128
1,459
1,520
1,157
1,622
1,450
1,098
937
1,053
883
811
639
1,029
811
1,348
1,139
1,016
832
963
746
26,983
28,580
27,408
26,875
27,114
26,995
27,059
27,721
1,542
276
279
347
640
2,220
867
271
364
718
2,082
653
487
361
581
1,751
379
386
338
648
2,110
617
277
318
898
2,058
568
368
339
783
1,987
566
495
332
594
1,916
424
481
371
640
25,960
3,464
3,444
1,262
1,707
25,441
3,467
3,444
1,226
1,781
26,360
4,254
4,245
1,360
2,581
25,326
3,254
3,242
1,215
1,617
25,124
3,213
3,183
1,375
1,535
25,004
3,686
3,669
1,338
1,859
24,937
3,512
3,481
1,436
1,600
25,072
3,392
3,372
1,190
1,707
25,805
3,385
3,362
1,144
1,781
8,841
91,300
11,457
96,465
11,567
97,285
10,337
100,154
8,109
8,596
10,062
10,351
7,110
2,851
721
1,131
748
914
1,490
1,107
7,392
3,277
906
1,333
618
931
1,348
1,218
9,265
3,690
1,093
1,248
1,445
1,093
1,750
1,287
9,115
3,794
1,260
1,145
1,381
1,066
1,597
1,277
991
830
999
829
1,204
1,032
797
579
109,977
28,759
28,253
26,246
8,163
2,516
1,421
1,381
2,845
2,588
1,135
336
399
718
2,024
603
473
367
581
1,409
214
233
314
648
101,814
14,407
14,339
5,288
7,592
26,171
4,031
4,021
1,136
2,581
26,229
3,339
3,328
1,301
1,617
104,151 107,851 107,946
26
27
28
29
30
Paper and paper base stocks
Textile supplies and related materials
Chemicals, excluding medicinals
Building materials, except metals
Other nonmetals ...r.
8,769
6,566
31,309
7,628 : • • >
9,666
2,229
1,579
8,273
1,818
2,383
2,309
1,749
8,170
2,015
2,484
2,142
1,605
7,568
1,878
2,395
2,089
1,633
7,298
1,917
2,404
2,300
1,676
7,633
1,916
2,523
2,364
1,739
8,234
2,054
2,615
2,398
1,660
7,591
2,079
2,590
2,196
1,581
8,158
1,879
2,352
2,246
1,676
7,864
1,881
2,394
2,158
1,659
7,780
1,926
2,426
2,169
1,650
7,507
1,942
2,494
2,247
1,679
7,524
1,980
2,487
2,299
1,665
7,920
1,916
2,526
2,415
1,718
7,834
2,139
2,629
31
32
33
34
35
36
37
38
Metals and nonmetallic products
Steelmaking materials
Iron and steel products
Nonferrous metals
Nonmonetary gold
Other precious metals
Other nonferrous metals
Other metals and nonmetallic products
23,469
1,713
4,486
11,201
3,563
892
6,746
6,069
5,858
390
1,055
3,001
1,021
231
1,749
1,412
6,163
535
1,250
2,840
789
206
1,845
1,538
5,929
389
1,151
2,793
857
240
1,696
1,596
5,519
399
1,030
2,567
896
215
1,456
1,523
5,441
359
1,026
2,563
942
248
1,373
1,493
5,490
409
1,034
2,365
864
195
1,306
1,682
5,656
449
975
2,612
916
214
1,482
1,620
5,940
458
1,059
3,001
1,021
231
1,749
1,422
6,011
443
1,253
2,840
789
206
1,845
1,475
5,962
395
1,138
2,793
857
240
1,696
1,636
5,556
417
1,036
2,567
896
215
1,456
1,536
5,508
418
1,030
2,563
942
248
1,373
1,497
5,354
341
1,038
2,364
864
195
1,305
1,611
5,685
459
961
2,612
916
214
1,482
1,653
167,029
39,184
43,043
40,641
44,161
44,368
44,175
42,534
38,925
42,345
41,683
44,076
44,096
43,480
43,645
128,944
13,559
115,385
10,051
7,644
3,098
6,021 • ' :
24,967 !
31,077
3,266
27,811
2,329
1,690
717
1,394
5,857
32,911
3,480
29,431
2,699
1,873
829
1,544
6,502
31,497
3,370
28,127
2,629
1,877
742
1,494
6,089
33,459
33,325
3,443
3,570
30,016 29,755
2,394
2,382
2,204
1,953
810 i
840
1,589 ',
1,556
6,454
6,519
34,304
3,463
30,841
2,657
2,162
855
1,589
6,735
33,887
3,491
30,396
2,641
1,976
905
1,534
6,482
30,832
3,248
27,584
2,306
1,690
721
1,400
5,929
32,205
3,373
28,832
2,608
1,873
796
1,498
6,174
32,456
3,451
29,005
2,700
1,877
774
1,541
6,273
33,451
3,487
29,964
2,437
2,204
807
1,582
6,591
33,053
3,533
29,520
2,373
1,953
842
1,553
6,520
33,599
3,357
30,242
2,574
2,162
821
1,546
6,403
34,912
3,565
31,347
2,711
1,975
948
1,581
6,691
27,293
14,349
10,467
2,487
9,008
6,989
3,515
2,452
634
2,234
6,759
3,737
2,579
649
2,260
6,338
3,497
2,688
595
2,178
7,207
3,600
2,748
609
2,336
7,035
3,762
2,673
618
2,482
7,106
3,840
2,769
679
2,449
6,866
4,097
2,893
618
2,384
6,791
3,522
2,452
632
2,141
6,803
3,626
2,579
641
2,234
6,712
3,529
2,688
616
2,295
6,987
3,672
2,748
598
2,338
6,839
3,771
2,673
609
2,387
7,146
3,728
2,769
669
2,424
7,257
4,138
2,893
638
2,515
7,715
4,246
392
9,678
6,299
454
8,775
5,478
369
10,280
6,601
422
10,662
7,385
381
9,424
6,099
447
8,245
4,884
402
7,701
4,246
392
9,686
6,299
454
8,858
5,478
369
10,203
6,601
422
10,662
7,385
381
9,434
6,099
447
8,331
4,884
402
39
40
41
42
43
44
45
46
47
48
49
50
51
52
Capital goods, except automotive
Machinery except consumer—type
Electric generating machinery electric apparatus and parts
Nonelectric, including parts and attachments
Oil drilling, mining, and construction machinery
Industrial engines, pumps, and compressors
Machine tools and metalworking machinery
Measuring, testing, and control instruments
Other industrial, agricultural, and service industry machinery
Computers, peripherals, and parts ..
Semiconductors
Telecommunications equipment
Other office and business machines
Scientific, hospital, and medical equipment and parts
53
54
55
Civilian aircraft, engines, parts
Civilian aircraft, complete, all types
Other transportation equipment
36,448
22,624
1,637
56
Automotive vehicles, engines and parts
40,045
8,952
10,992
9,525
10,576
10,874
12,654
10,451
8,783
9,926
10,918
10,418
10,725
11,545
12,245
57
58
59
60
61
To Canada
Passenger cars new and used
Trucks buses and special purpose vehicles .
Engines and engine parts
Other parts and accessories
22,499
6,311
2,845
2,944
10,399
5,220
1,577
666
646
2,331
6,249
1,745
780
853
2,871
5,291
1,407
660
720
2,504
5,739
1,582
739
725
2,693
5,505
1,277
573
779
2,876
6,656
1,826
742
916
3,172
5,138
1,285
576
734
2,543
5,014
1,584
647
609
2,174
5,475
1,414
678
760
2,623
6,242
1,775
741
832
2,894
5,768
1,538
779
743
2,708
5,211
1,194
570
744
2,703
5,927
1,542
652
820
2,913
6,129
1,699
661
838
2,931
62
63
64
65
66
To other areas
.
Passenger cars new and used
Trucks buses and special purpose vehicles
Engines and engine parts
,
Other parts and accessories .
17,546 ,
5,379
2,568
1,807
7,792
3,732
1,230
530
374
1,598
4,743
1,463
867
441
1,972
4,234
1,080
621
456
2,077
4,837
1,606
550
536
2,145
5,369
1,968
577
571
2,253
5,998
1,989
886
659
2,464
5,313
1,618
675
620
2,400
3,769
1,138
530
382
1,719
4,451
1,313
867
419
1,852
4,676
1,537
621
474
2,044
4,650
1,391
550
532
2,177
5,514
1,911
577
606
2,420
5,618
1,800
886
624
2,308
6,116
2,432
675
647
2,362
45,944
11,602
11,579
10,902
11,861
12,090
12,598
12,478
11,540
11,131
11,233
12,040
11,985
12,137
12,862
21,935
5,381
22,056
8,370
1,953
5,523
1,311
5,552
1,911
527
5,412
1,403
5,674
2,152
493
5,346
1,326
5,102
2,054
454
5,654
1,341
5,728
2,253
479
5,675
1,545
5,932
2,360
483
6,016
1,621
6,136
2,439
446
6,315
1,569
5,713
2,268
450
5,554
1,287
5,472
1,865
514
5,268
1,348
5,411
2,047
452
5,369
1,366
5,363
2,162
501
5,744
1,380
5,810
2,296
486
5,694
1,525
5,822
2,304
469
5,848
1,556
5,875
2,321
414
6,356
1,618
6,009
2,393
497
17,230
4,122
4,334
4,231
4,543
4,026
3,907
3,710
4,181
4,229
4,267
4,553
4,086
3,798
3,750
67
68
69
70
71
72
73
Consumer goods (nonfood) except automotive
Consumer nondurable goods, manufactured
Medical, dental, and pharmaceutical preparations, including vitamins
Consumer durable goods, manufactured
Household and kitchen appliances and other household goods
Unmanufactured consumer goods (gem stones, nursery stock)
Exports nee
See footnotes on page 64.
• December 1992
SURVEY OF CURRENT BUSINESS
Table 2.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
1991
1991
I
II
1991
1992
III
IV
I
II "
III'
I
II
1992
III
IV
I
IK
III'
C Merchandise trade, by principal end-use category, adjusted to balance of
payments basis, excluding military—Continued:
74
Merchandise imports, balance of payments basis, excluding military
(A-16)
489,398
115,920
119,427
124,329 129,722 122,633 131,420
137,612 118,962 119,721 124,325
126,390
125,168 132,022
137,350
75
76
Petroleum and products7
Nonpetroleum products
51,178
438,220
12,769
103,151
12,904
106,523
13,217
111,112
14,317
123,295
13,122
111,203
12,195
114,195
10,368
114,800
12,931
119,091
14,214
123,136
77
Foods, feeds and beverages
26,467
6,426
6,897
6,329
6,815
6,736
7,230
6,771
6,405
6,903
6,567
6,592
6,699
7,271
7,077
18,874
2,908
1,738
3,961
5,328
1,773
4,907
7,593
5,651
1,595
4,794
850
538
981
1,515
376
1,072
1,632
1,248
305
4,968
732
427
1,109
1,485
443
1,200
1,929
1,488
356
4,360
678
337
938
1,062
436
1,247
1,969
1,468
415
4,752
648
436
933
1,266
518
1,388
2,063
1,447
519
5,044
838
522
997
1,595
370
1,244
1,692
1,273
326
5,224
675
378
1,056
1,540
557
1,397
2,006
1,407
502
4,680
637
328
900
1,110
534
1,500
2,091
1,450
549
4,627
850
538
981
1,212
463
1,122
1,778
1,345
354
4,937
732
427
1,109
1,431
435
1,231
1,966
1,468
413
4,607
678
337
938
1,325
430
1,236
1,960
1,440
434
4,703
648
436
933
1,360
445
1,318
1,889
1,398
394
4,881
838
522
997
1,301
448
1,297
1,818
1,344
380
5,198
675
378
1,056
1,491
547
1,430
2,073
1,389
588
4,950
637
328
900
1,400
526
1,487
2,127
1,436
599
132,032
32,611
33,292
33,063
33,066
31,454
35,240
36,115
32,852
33,045
33,115
33,020
31,446
34,994
36,205
3,985
128,047
55,664
55,091
1,011
31,600
13,725
13,621
1,041
32,251
13,932
13,813
932
32,131
14,250
14,063
1,001
32,065
13,757
13,594
1,128
30,326
11,699
11,551
1,124
34,116
14,094
13,951
1,011
35,104
15,484
15,282
927
31,925
13,805
13,701
1,029
32,016
14,035
13,916
991
32,124
14,255
14,068
1,038
31,982
13,569
13,406
1,044
30,402
11,609
11,461
1,109
33,885
14,214
14,071
1,074
35,131
15,512
15,310
Paper and paper base stocks ...
Textile supplies and related materials
Chemicals excluding medicinals
Building materials, except metals
Other nonmetals
8,450
6,143
14,859
6,843
7,224
2,254
1,365
3,742
1,470
1,572
2,133
1,505
3,825
1,764
1,659
2,028
1,591
3,565
1,895
1,970
2,035
1,682
3,727
1,714
2,023
1,940
1,671
4,203
1,918
1,924
2,017
1,760
4,192
2,115
2,117
2,092
1,738
4,056
2,145
2,192
2,284
1,403
3,638
1,564
1,586
2,138
1,467
3,754
1,649
1,638
2,020
1,580
3,684
1,803
1,966
2,008
1,693
3,783
1,827
2,034
1,959
1,695
4,057
2,032
1,932
2,024
1,720
4,122
1,985
2,092
2,091
1,729
4,188
2,044
2,180
Metals and nonmetallic products
Steelmaking materials
Iron and steel products
Nonferrous metals
Nonmonetary gold
Other precious metals
Bauxite and aluminum
Other nonferrous metals
Other metallic and nonmetallic products
28,864
1,611
10,112
12,809
2,897
2,342
3,152
4,418
4,332
7,472
303
2,643
3,421
814
693
841
1,073
1,105
7,433
454
2,534
3,338
742
618
817
1,161
1,107
6,832
432
2,392
2,949
575
536
800
1,038
1,059
7,127
422
2,543
3,101
766
495
694
1,146
1,061
6,971
305
2,626
2,968
566
472
784
1,146
1,072
7,821
421
2,779
3,454
888
600
775
1,191
1,167
7,397
416
2,705
3,128
698
508
737
1,185
1,148
7,645
376
2,729
3,421
814
693
841
1,073
1,119
7,335
418
2,496
3,338
742
618
817
1,161
1,083
6,816
411
2,385
2,949
575
536
800
1,038
1,071
7,068
406
2,502
3,101
766
495
694
1,146
1,059
7,118
381
2,696
2,967
565
472
784
1,146
1,074
7,728
389
2,746
3,454
888
600
775
1,191
1,139
7,387
395
2,701
3,127
698
507
737
1,185
1,164
120,735
29,099
30,074
30,336
31,226
30,870
32,808
34,484
29,809
30,090
30,321
30,515
31,277
32,844
34,505
108,009
12,922
95,087
3,322
4,600
4,098
2,788
21,630
26,131
3,213
22,918
931
1,166
1,032
652
5,594
26,769
3,246
23,523
978
1,147
1,163
652
5,457
26,981
3,200
23,781
729
1,129
977
712
5,139
28,128
3,263
24,865
684
1,158
926
772
5,440
27,611
3,218
24,393
681
1,235
933
741
5,448
29,176
3,323
25,853
753
1,286
929
765
5,772
31,117
3,488
27,629
806
1,315
849
799
5,776
26,841
3,324
23,517
930
1,157
1,032
675
5,567
26,785
3,167
23,618
952
1,103
1,163
663
5,362
26,966
3,183
23,783
736
1,145
977
721
5,259
27,417
3,248
24,169
704
1,195
926
729
5,442
28,019
3,284
24,735
679
1,211
933
751
5,369
29,212
3,246
25,966
726
1,241
929
777
5,687
31,138
3,492
27,646
818
1,341
849
807
5,917
26,111
13,083
9,824
4,197
5,434
5,941
3,070
2,255
999
1,278
6,285
3,210
2,334
969
1,328
6,785
3,366
2,527
1,035
1,382
7,100
3,437
2,708
1,194
1,446
6,757
3,622
2,432
1,178
1,366
7,502
3,800
2,480
1,192
1,374
8,480
3,969
2,851
1,268
1,516
6,203
3,172
2,417
1,021
1,343
6,443
3,148
2,437
1,013
1,334
6,768
3,306
2,472
1,029
1,370
6,697
3,457
2,498
1,134
1,387
6,925
3,686
2,576
1,187
1,418
7,674
3,723
2,587
1,245
1,377
8,460
3,907
2,784
1,263
1,500
12,726
11,742
3,326
2,968
2,695
582
3,305
3,045
882
3,355
3,132
1,000
3,098
2,870
862
3,259
3,013
777
3,632
3,369
1,145
3,367
3,063
895
2,968
2,695
582
3,305
3,045
882
3,355
3,132
1,000
3,098
2,870
862
3,258
3,013
777
3,632
3,369
1,145
3,367
3,063
895
84,941
20,205
20,473
20,636
23,627
21,827
23,025
20,852
20,311
19,771
22,708
22,151
21,958
22,375
22,83-4
8,024
3,725
2,129
359
1,811
7,595
3,361
2,106
347
1,781
8,736
4,032
2,253
448
2,003
7,052
3,214
1,812
363
1,663
5,958
2,673
1,437
278
1,570
7,014
3,574
1,532
344
1,564
8,285
4,386
1,759
395
1,745
7,525
3,414
1,997
356
1,758
7,735
3,340
2,212
352
1,831
7,917
3,584
2,081
397
1,855
8,250
4,009
2,041
406
1,794
78
79
80
81
82
83
84
85
86
87
Agricultural
Coffee cocoa and sugar
Green coffee
Meat products and poultry
Vegetables, fruits, nuts, and preparations
Other agricultural foods feeds and beverages
Nonagricultural (fish, distilled beverages, etc)
Whiskey and other alcoholic beverages
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
Agricultural
Nonagricultural products
Energy products
Fuels and lubricants711
Capital ooods except automotive
. . .
.
Machinery except consumer—type .
Electric generating machinery, electric apparatus and parts
Nonelectric including parts and attachments
Oil drilling, mining and construction machinery
Industrial engines, pumps, and compressors
Machine tools and metalworking machinery
Measuring, testing, and control instruments
Other industrial, agricultural, and service industry machinery
Computers, peripherals, and parts
Semiconductors
Telecommunications equipment
Other office and business machines
.Scientific, hospital, and medical equipment and parts
Transportation equipment except automotive
Civilian aircraft engines parts
Civilian aircraft, complete all types ...
Automotive vehicles engines and parts
10,342
12,288
12,883
117,434 112,291 118,537
12,924
106,038
12,937
106,784
Passenger cars, new and used
Trucks buses and special purpose vehicles
Engines and engine parts
Other parts and accessories
28,782
14,047
6,725
1,373
6,637
5,909
2,741
1,376
275
1,517
7,828
4,079
1,668
388
1,693
7,021
3,502
1,552
351
1,616
From other areas
Passenger cars new and used
Trucks buses and special purpose vehicles
Engines and engine parts
Other parts and accessories
56,159
31,553
2,448
5,082
17,076
14,296
8,483
596
1,244
3,973
12,645
6,610
536
1,269
4,230
13,615
7,549
641
1,197
4,228
15,603
8,911
675
1,372
4,645
14,232
7,734
569
1,292
4,637
14,289
7,505
538
1,333
4,913
13,800
6,992
534
1,342
4,932
14,353
8,572
596
1,224
3,961
12,757
6,815
536
1,208
4,198
14,423
8,205
641
1,260
4,317
14,626
7,961
675
1,390
4,600
14,223
7,759
569
1,277
4,618
14,458
7,766
538
1,274
4,880
14,584
7,599
534
1,414
5,037
108,024
50,636
24,562
6,575
51,648
18,771
9,410
6,662
5,991
5,740
23,453
11,491
5,526
1,518
10,547
4,180
1,642
1,316
1,100
1,415
24,185
11,386
5,163
1,488
11,440
4,343
1,955
1,390
1,312
1,359
29,829
14,251
7,241
1,876
14,040
5,089
2,667
1,842
1,702
1,538
30,557
13,508
6,632
1,693
15,621
5,159
3,146
2,114
1,877
1,428
26,997
13,285
6,630
1,702
12,342
4,649
2,249
1,547
1,403
1,370
28,391
13,448
6,521
1,665
13,496
5,156
2,441
1,670
1,549
1,447
34,774
16,879
8,892
2,110
16,182
5,841
3,208
2,082
1,993
1,713
25,459
12,103
5,765
1,582
11,947
4,468
2,058
1,529
1,315
1,409
25,406
11,959
5,668
1,556
12,076
4,348
2,136
1,546
1,385
1,371
27,478
12,792
6,247
1,687
13,138
4,816
2,347
1,752
1,577
1,548
29,681
13,782
6,882
1,750
14,487
5,139
2,869
1,835
1,714
1,412
29,039
13,848
6,831
1,753
13,830
4,887
2,742
1,786
1,664
1,361
29,811
14,168
7,170
1,732
14,182
5,151
2,638
1,837
1,619
1,461
32,112
15,246
7,717
1,914
15,141
5,548
2,811
1,964
1,832
1,725
17,199
10,576
4,126
2,357
4,506
2,835
4,136
2,581
4,431
2,803
4,749
2,928
4,726
2,790
4,616
2,813
4,126
2,357
4,506
2,835
4,136
2,581
4,431
2,803
4,749
2,928
4,727
2,790
4,617
2,813
6,623
1,769
1,671
1,555
1,628
1,821
1,936
1,803
1,769
1,671
1,555
1,628
1,821
1,937
1,804
135
136
137
138
139
140
141
142
143
144
Consumer goods (nonfood) except automotive
...
Consumer nondurable goods,- manufactured
Textile apparel and household goods except rugs
Footwear of leather rubber and other materials
Consumer durable goods manufactured
>
Household and kitchen appliances and other household goods
Toys, shooting, and sporting goods, including bicycles
Television and video receivers
Radio and stereo equipment, including records, tapes, and disks
Unmanufactured consumer goods (gemstones, nursery stock)
145
146
147
Imports nee and U S goods returned
•U.S. goods returned
Other products, including balance of payments adjustments not included
above (minimum value shipments and miscellaneous imports)
See footnotes on page 64.
December 1992 • Jl
SURVEY OF CURRENT BUSINESS
Table 3.—Selected Service Transactions
[Millions of dollars]
Notseasonally acijusted
Line
1991
1991
I
1 Exports of selected services
II
Seasonally
III
IV
I
II'
adjusted
1991
1992
III*
I
II
1992
III
IV
I
II '
III*
152,252
34,316
36,769
41,873
39,296
40,040
39,954
44,690
35359
37,709
39,010
40,177
41,585
41,017
41,555
Travel (table 1, line 5)
Passenger fares (table 1, line 6)
Other transportation (table 1, line 7)
Freight ....
Port services
Other
48,757
15,627
23,625
7,237
15,332
1,056
9,608
3,064
5,618
1,792
3,561
265
12,121
3,778
5,812
1,861
3,686
265
14,841
4,917
6,114
1,829
4,024
261
12,188
3,868
6,082
1,755
4,061
266
12,099
3,833
5,963
1,783
3,897
283
13,470
4,006
6,109
1,760
4,070
279
15,924
5,121
6,296
1,810
4,208
278
10,758
3,379
5,651
1,792
3,594
265
12,150
3,878
5,858
1,861
3,732
265
12,608
4,063
6,017
1,829
3,927
261
13,244
4,308
6,099
1,755
4,078
266
13,663
4,233
6,055
1,783
3,989
283
13,511
4,114
6,154
1,760
4,115
279
13,444
4,211
6,189
1,810
4,101
278
8
9
10
11
12
13
14
Royalties and license fees (table 1, line 8)
Affiliated
U.S. parents' receipts
U.S. affiliates' receipts
Unaffiliated
Industrial
processes1
Other2
17,799
14,014
13,500
514
3,785
2,586
1,199
4,094
3,184
3,066
118
911
633
278
4,262
3,329
3,222
107
933
638
295
4,288
3,331
3,224
107
957
649
309
5,155
4,171
3,989
182
984
666
318
4,579
3,565
3,404
161
1,014
690
324
4,739
3,703
3,569
134
1,036
707
329
4,753
3,703
3,549
154
1,051
721
330
4,365
3,454
3,324
130
911
633
278
4,370
3,437
3,322
115
933
638
295
4,484
3,527
3,408
119
957
649
309
4,578
3,594
3,446
148
984
666
318
4,872
3,858
3,684
174
1,014
690
324
4,857
3,821
3,678
143
1,036
707
329
4,966
3,915
3,743
172
1,051
721
330
15
16
17
18
19
20
21
22
23
24
25
26
?7
Other private services (table 1, line 9)
Affiliated services
U.S. parents' receipts .
U.S. affiliates' receipts
Unaffiliated services
Education
Financial services
Insurance, net
Premiums received
Losses paid
Telecommunications
Business, professional, and3 technical services
Other unaffiliated services
46,444
14,639
9,614
5,025
31,805
5,752
4,689
2,063
6,169
4,106
2,794
10,403
6,104
11,932
3,521
2,374
1,147
8,411
2,269
1,155
489
1,503
1,014
684
2,306
1,508
10,796
3,572
2,479
1,093
7,224
740
1,214
505
1,528
1,022
693
2,572
1,501
11,713
3,641
2,360
1,281
8,071
1,442
1,123
524
1,554
1,031
703
2,732
1,547
12,003
3,905
2,401
1,504
8,099
1,301
1,197
546
1,585
1,039
714
2,793
1,548
13,566
4,001
2,260
1,741
9,566
2,565
1,285
576
1,620
1,044
724
2,777
1,639
11,630
3,783
2,290
1,493
7,847
830
1,225
597
1,646
1,049
733
2,805
1,658
12,595
3,847
2,339
1,508
8,748
1,637
1,251
610
1,662
1,052
738
2,846
1,666
11,206
3,684
2,456
1,228
7,522
1,380
1,155
489
1,503
1,014
684
2,306
1,508
11,453
3,565
2,454
1,111
7,888
1,404
1,214
505
1,528
1,022
693
2,572
1,501
11,838
3,732
2,383
1,349
8,106
1,477
1,123
524
1,554
1,031
703
2,732
1,547
11,948
3,659
2,322
1,337
8,289
1,492
1,197
546
1,585
1,039
714
2,793
1,548
12,762
4,193
2,337
1,856
8,569
1,568
1,285
576
1,620
1,044
724
2,777
1,639
12,381
3,781
2,267
1,514
8,600
1,583
1,225
597
1,646
1,049
733
2,805
1,658
12,745
3,950
2,362
1,588
8,795
1,684
1,251
610
1,662
1,052
738
2,846
1,666
100,029
21,019
25,778
28,618
24,613
23926
28,269
28,619
23,166
25,156
25,575
26,131
26,765
27,404
25,120
6189
12,190
3,278
6,082
3056
2,798
8,429
2,489
5,848
2958
2,645
8,520
2,435
5,719
2827
2,638
11,783
3,205
5,615
2825
2549
13,887
3,508
6,133
3007
2902
7,927
2,383
5,723
2903
2,591
9,445
2,706
5,806
3030
2,550
9,622
2,755
5,953
3056
2,664
9,963
2,792
5,816
2958
2,615
10,859
2,846
5,845
2827
2,762
10,855
3,052
5,656
2825
2,594
10,893
2,930
5,997
3,007
2,762
229
245
254
241
224
228
226
233
243
955
687
37
650
268
206
62
1,002
1,013
1,015
724
53
671
278
217
61
726
38
688
287
225
62
721
55
666
294
232
62
741
34
707
300
236
64
756
47
709
305
239
66
772
52
720
308
242
66
6,180
2,414
1,266
1,148
3766
6,197
2,366
1,276
1,090
6,232
2,358
1,285
1,073
3874
6,545
2,431
1,336
1,095
6,174
1,972
1,076
4114
4,202
6,780
2,470
1,232
1,238
4,311
4,222
2,726
1,312
1,414
1,496
179
627
619
187
562
647
187
558
674
185
683
698
198
735
724
207
750
741
2,723
2,104
1,380
584
377
2,820
2,173
1,378
664
393
2,906
2,232
1,399
677
379
2,979
2,281
1,406
717
425
3,045
2,320
1,430
717
398
3,093
2,352
1,447
749
416
2
3
4
5
6
7
?R
Imports of selected services
W
30
31
V
33
34
Travel (table 1, line 19)
Passenger fares (table 1, line 20)
Other transportation (table 1, line 21)
35
%
37
38
39
40
41
Royalties and license fees (table 1, line 22)
4?
43
44
45
4R
47
48
49
50
51
5?
Other private services (table 1 line 23)
Affiliated services
U.S. parents' payments
U.S. affiliates' payments
Unaffiliated services
Education
Financial services
Insurance, net
Premiums paid
Losses recovered
Telecommunications
Business, professional, and technical services
Other unaffiliated services3
53
54
Port services
Other
U.S. parents' payments
U.S. affiliates' payments
Unaffiliated .
Industrial processes l
Other2
See footnotes on page 64.
36958
10,636
23,297
11947
10421
2,044
5,603
2903
2474
10,150
2,825
5,763
3030
2504
929
226
229
3,984
2857
941
673
37
636
268
206
62
975
697
53
644
278
217
61
1,012
1,056
1,026
1,030
1,080
726
38
688
287
225
62
762
55
707
294
232
62
727
34
693
300
236
64
725
47
678
305
239
66
774
52
722
308
242
66
6242
2,482
1 229
1,253
6065
2,259
1 229
1,030
3806
6,056
2,175
1,220
6,791
2,654
1,486
1,168
6,226
2,028
1,043
4,011
2,507
4137
4198
6636
2,354
1 189
1,165
4282
146
627
619
185
562
647
230
558
674
176
683
699
162
735
724
204
750
741
255
829
2,723
2,820
2104
2173
1,380
584
405
1,378
664
370
2,906
2,232
1,399
677
343
2,979
2,281
1,406
717
456
3,045
2,320
1,430
717
430
3,093
2352
1,447
749
390
183
2,674
1 127
881
246
25154
9,570
5163
4,407
15585
737
2430
2,639
11,428
8789
5,563
2,642
1575
3761
955
3881
985
1249
1,258
1504
-2,147
3,125
5272
1,463
758
347
3831
254
1,041
896
237
1,061
228
1,078
206
829
-2,147
3,125
5,272
1,463
758
387
December 1992
SURVEY OF CURRENT BUSINESS
Table 4.—Selected U.S. Government Transactions
[Millions of dollars]
1992
1991
1991
Line
I
A1
U.S. Government grants and transactions increasing Government assets, total
...
...
.
.
II
III
IV
I
II '
III'
-11,361
-16,488
-6,956
10,837
1,246
3,637
4,385
4,074
-24,487
3,833
14,220
-42,539
-18,181
1,420
3,073
-22,674
-8,214
483
2,915
-11,612
1,986
551
6,039
-4,604
-78
1,379
2,193
-3,650
2,620
1,225
1,849
3,085
1,624
2,268
2,490
662
1,828
12,123
1,499
10,089
31
505
(
1,635
283
1,236
4
112
1,056
420
501
-2
137
8,382
341
7,897
11
133
1,051
455
455
19
122
937
314
497
1
125
1,163
298
740
-2
128
1,002
10
58
8
203
-5
468
21
273
-14
80
13
137
-14
10
56
95
3
13
22
4
10
17
1
17
47
1
16
9
50
2
15
n
34
By category
2
3
4a
4b
5
6
7
8
9
Grants net (table 1 line 30 with
sign reversed)
Financing military purchasesl
Other grants
Cash contributions received from coalition partners for Persian Gulf operations
Credits and other long-term assets (table 1 , line 40, 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
..
17
18
19
20
21
22
23
Foreign currency holdings and short-term assets, net (table 1, line 42 with sign reversed)
Foreign currency holdings (excluding administrative cash holdings) net
Receipts from:
Sales of agricultural commodities
Interest
Repayments of principal
Reverse grants
. . . . . . .
Other sources8
Less currencies disbursed for:
Grants and credits in the recipient's currency
..
Other grants and credits
..
Other U S Government expenditures 8
Assets acquired in performance of U.S. Government guarantee and insurance obligations net
Other assets held under Commodity Credit Corporation Charter Act net
Assets financing military sales contracts, net2
Other short-term assets (including changes in administrative cash holdings), net
24
25
26
27
28
29
30
31
32
Capital subscriptions and contributions to international financial institutions excluding IMF
Under Agricultural Trade Development and Assistance Act and related programs
Under Foreign Assistance Act and related programs
Under Export-Import Bank Act
Under Commodity Credit Corporation Charter Act
Under other grant and credit 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
33
34
35
36
37
38
39
40
41
42
Estimated transactions involving no direct dollar outflow from the United States
Expenditures on U S merchandise
Expenditures on U S services4
Financing of military sales contracts by U.S. Government5 (line C6)
By long-term credits l
By short-term credits
.
By grantsl
U S Government grants and credits to repay prior U S Government credits1 4 6 ..
.
U S Government long- and short-term credits to repay prior U S private credits and other assets
Increase in liabilities associated
with
U.S.
Government
grants
and
transactions
increasing
Government
assets (including changes in
retained accounts)7 (line C1 1 j
Less receipts on short-term U.S. Government assets (a) financing military sales contracts l (b) financing repayment of private
credits and other assets and (c) financing expenditures on U S merchandise
Less foreign currencies used by U S Government other than for grants or credits (line A1 9)
Estimated dollar payments to foreign countries and international financial institutions
10
11
12
13
14
15.
16
...
..
.
...
.
..
.
. . .
-807
-453
n
13
0
5
11
5
3
3
6
n
1
n
29
88
48
177
39
391
73
300
35
174
33
154
38
-37
31
57
-13'
1,499
5,270
16,621
1,604
4,656
-41,558
201
189
535
283
418
4,305
373
508
-22,457
36
29
74
420
368
3,058
150
161
-11,273
41
48
168
341
4,165
5,853
884
3,702
-4,318
65
39
183
455
320
3,405
197
285
-3,510
58
73
110
48
35
56
22,684
4,349
3,127
3,098
387
4,859
716
1,061
1,432
129
2,118
815
610
437
103
12,612
1,545
826
328
49
3,095
1,273
630
901
106
2,711
11,147
1,165
1,303
1,516
168
334
85
221
279
9,480
472
n
n
n
13
189
-34,046
5
29
-21,347
4
48
-9,074
16,522
16,014
3,953
6,570
1,864
3,505
122
508
2,836
2,703
67
1,999
421
214
1
133
754
630
38
318
273
1,600
1,418
8,559
1,014
n
n
n
-23
30
11
n
-197
1
5
3
189
954
n
1,781
381
1,249
14
137
n
n
9
10
30
-197
n
-3
22
314
311
2,888
109
194
298
272
3,582
441
206
-249
-524
19
33
124
381
350
2,309
377
268
244
17
30
159
2,937
869
609
1,099
143
3,448
1,641
677
781
50
2,835
938
868
653
85
795
65
303
957
202
201
731
153
215
567
277
130
n
n
n
n
n
39
-1,776
4
73
-1,849
9
35
700
-14
33
937
30
1,239
125
12,055
11,929
3,716
4,012
915
3,283
4
126
877
753
133
241
256
8
116
125
909
779
114
410
157
97
1
131
953
824
33
341
424
23
3
130
1,269
1,140
89
411
465
174
1
129
868
830
421
278
654
651
96
75
598
567
875
895
1,840
510
1,735
40
2,776
362
1466
-637
-664
-465
1,432
129
3,082
117
362
781
50
2,942
214
3,098
387
2,177
177
30
1,099
143
-107
By program
By disposition3
43
44
45
B1
2
3
4
5
6
7
8
Repayments on U.S. Government long-term assets, total (table 1, line 41)
Receipts of principal on U.S. Government credits
Under Agricultural Trade Development and Assistance Act and related programs
Under Foreign Assistance Act and related programs ....
Under Export-Import Bank Act
Under Commodity Credit Corporation Charter Act
Under other credit programs
Receipts on other long-term assets
C1
2
3
U.S. Government liabilities other than securities,
total, net increase (+) (table 1, line 53)
Associated with military sales contracts2
....
U.S. Government cash receipts
from
foreign
governments
(including prinipal repayments on credits financing military sales
1
contracts) net of refunds
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* (line A36)
..
By long-term credits l
..
By short-term credits
By grantsl
Less transfers of goods and services (including transfers financed by grants for military purchases, and by credits) '2 (table 1 , line
4
5
6
7
8
9
10
11
12
13
14
15
Associated wiih U.S. Government grants and transactions increasing Government asseis (incuding changes in retained accounts)7
(line A42)
Associated with other liabilities
Sales of nuclear material by Department of Energy
Sales of space launch and other services by National Aeronautics and Space Administration
Other sales and miscellaneous operations
.
See footnotes on page 64.
2,711
1,303
10,691
2,569
n
182
-68
115
134
n
38
-1
38
2
n
437
103
328
49
-344
-341
2,209
102
301
901
106
-208
653
85
334
279
795
957
731
567
2,517
2,556
3,049
2,994
2,816
2,693
n
143
-33
28
149
n
3
-18
16
4
<3
-16
34
-21
n
21
10
28
-17
n
31
-7
31
7
42
6
-5
-21
December 1992 • 53
SURVEY OF CURRENT BUSINESS
Table 5.—Direct Investment: Income, Capital, Royalties and License Fees, and Other Private Services
[Millions of dollars]
Not seasonally adjusted
(Credits +; debits -)
Line
1991
1991
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
U.S. direct investment abroad:
Income with current-cost adjustment, before deduction of withholding taxes
(table 1 line 12)
Distributed earnings
Reinvested earnings
Interest
U S parents' receipts
U.S. parents' payments
1
Less Current-cost adjustment
Less: Withholding taxes
Equals: Income
without current-cost adjustment, after deduction of withholding
taxes1
Petroleum
ManufacturingOther
Capital with current-cost adjustment (table 1 line 44)
Equity capital
Increases in equity capital23.
Decreases in equity capital
Reinvested earnings
Intercompany debt
U.S. parents' receivables
U.S. parents' payables
Less: Current-cost adjustment (line 8 with sign reversed)
Equals: Capital without current-cost adjustment1
Equity capital (line 15)
Petroleum
Manufacturing;
Other
Reinvested earnings without current-cost adjustment (line 18 less line 22)
Petroleum
Manufacturing
Other
Intercompany debt (line 19)
Petroleum
Manufacturina
Other
1
'
Royalties and license fees, before deduction of withholding taxes, net
U.S. parents' receipts (table 1, part of line 8)
U.S. parents' payments (table 1, part of line 22)
Other private services, before deduction of withholding taxes, net
U.S. parents' receipts (table 1, part of line 9)
U S. parents' payments (table 1, part of line 23)
Foreign direct investment in the United States:
Income with current-cost adjustment, before deduction of withholding taxes
(table 1, line 26)
Distributed earnings
Reinvested earnings
Interest
U S affiliates' payments
U S. affiliates' receipts
Less: Current-cost adjustment
Less* Withholding taxes ..
Equate: lIncome without current-cost adjustment, after deduction of withholding
taxes
Petroleum
Manufacturina
Other
Capital with current-cost adjustment (table 1 line 57)
Equity capital
Increases in equity capital23
Decreases in equity capital
Reinvested earnings ...
Intercompany debt
US affiliates' payables
U.S. affiliates' receivables
Less: Current-cost adjustment (line 49 with sign reversed)
Equate* Capital without current-cost adjustment l
Equity capital (line 56)
Petroleum
Manufacturina ...
..
.
Other
'
Reinvested earnings without current-cost adjustment (line 59 less line 63)
Petroleum .
Manufacturing
Other
Intercompany debt (line 60)
Petroleum .
Manufacturing
Other
Royalties and license fees, before deduction of withholding taxes, net
US affiliates' payments (table 1, part of line 22)
US. affiliates' receipts (table 1, part of line 8)
Other private services, before deduction of withholding taxes net
U.S. affiliates' payments (table 1, part of line 23)
U.S. affiliates' receipts (table 1, part of line 9)
See footnotes on page 64.
49,221
47,834
29,947
17,887
1,387
4,548
-3,161
1 062
1,312
IV
III
II
14,367
13,941
7,153
6,788
427
1,185
12,232
11,904
6,417
5,486
328
1,163
-758
-835
-378
-309
10,458
10,154
5,591
4,563
304
1,144
I
II r
12,848
12,408
8,017
4,391
440
978
-840
12,164
11,836
10,786
1,050
329
1,055
727
-226
149
-537
313
354
240
406
148
316
14,433
3,655
4,623
6,155
12,187
1,967
5,202
5,018
10,444
2,312
3,852
4,280
11,907
2,121
4,975
4,811
-27,135 -12,782
-11,650 -2,405
-21,693 -4,495
2,090
10,043
-17,887 -6,788
2,402 -3,589
-2,669
1,130
1,271
-920
2,188
557
-2,995
3,552
-5,486
7,117
-8,473
-3,355
-4,680
1,325
-4,563
48,970
10,055
18,651
20,264
1877
8,994
-465
-448
-148
-163
-253
13,204
2,346
5,278
5,580
-8,067 -15,809
-6,448 -3,071
-9,523 -4,797
1,727
3,076
-1,050 -4,391
-556
-570
-6,348
-4,693 10,370 -5,713
4,138 -10,940 -2,635
-9,061
-1,214
-2,592
1,379
-5,750
-2,097
-6,216
4,119
-8,731 -11,994
-1,150 -2,405
-5,660 -4,495
4,510
2,090
-6,146 -6,000
-1,435 -3,589
-654
-2,669
3,681
557
-2,995
3,552
-3,993
7,117
-7,128 -11,692 -15,075
-3,355 -6,448 -3,071
-4,680 -9,523 -4,797
3,076
1,727
1,325
-3,217 -4,675 -3,657
-570
-8,348
-556
10,370 -5,713
-4,693
4,138 -10,940 -2,635
-7,009
-1,214
-2,592
1,379
-3,698
-2,097
-6,216
4,119
-7,181
-1,150
-5,660
4,510
-4,596
-1,435
-598
-1,468
-1,289
-4,789
-1,115
-1,166
-2,508
-556
1,425
149
148
163
-8,216 -15,958
-6,448 -3,071
-712
130
-827
-1,448
-4,288 -2,374
-1,199 -4,539
218
1,529
-1,175 -2,930
-242
-3,138
-570
-8,348
1,044 -1,415
409
-716
-2,023 -6,217
-9,225
-1,214
130
253
378
309
-8,985 -12,372
-1,150 -2,405
3,372
557
21
1,173
-280
-1,525
656
-6,399
1,100
2,290
-1,189
1,091
2,339
-1,249
1,190
2,456
-1,266
1,178
2,454
-1,276
1,098
2,383
-1,285
986
2,322
1,336
1,261
2,337
1,076
1,035
2,267
-1,232
1,049
2,362
-1,312
1,005
3,306
-3,054
6,360
-2,301
-2,922
621
1,385
3,251
-1,682
4,933
-1,866
-2,357
492
-1,466
429
-1,815
2,244
-1,895
-2,374
479
-654
1,170
-1,268
2,438
-1,823
-2,321
497
1,174
3,293
-1,963
5,256
-2,119
-2,691
571
1,121
3,264
-1,859
5,122
-2,142
-2,729
587
547
2,707
-1,563
4,270
-2,161
2676
516
834
3,135
-2,263
5,398
-2,301
-2,922
621
872
2,738
-1,721
4,459
-1,866
-2,357
492
-1,088
807
-2,124
2,931
-1,895
-2,374
479
1,474
-1,569
3,043
-1,823
-2,321
497
278
275
-52
296
-50
348
-68
275
-80
285
-62
285
-67
278
275
-52
296
-50
348
-68
1,162
-1,712
-934
649
-1,334
-630
-559
-235
-336
-893
-483
328
-1,869
607
-336
-515
-483
328
-1,565
607
5,998
4,226
5,144
5,311
4,226
5,144
-3,361
2,006
3,366
-1,360
-3,043
-2,324
1,027
-3,350
-145
872
-90
-673
931
1,176
1,413
1,163
1,242
1,956
-1,880
7,376
9,312
-1,936
-5,603
-3,653
786
-4,439
8,019
7,493
8,557
-1,064
-4,425
4,950
-1,424
6,374
641
5,440
5,953
4,718
7,615
8,369
-4,294
5,390
6,323
-513
-755
-933
-3,658
-1,142
2,304
-3,446
-6,360
3,463
3,572
2244
4,016
4,728
-109
-4,933
-4,751
-1,924
-2,827
-712
-2,755
2,006
3,366
-1,360
-2,438
-2,324
1,027
-3,350
-275
-285
-285
-278
-275
-296
-348
-1,605
7,376
257
2,352
4,767
-5,328
26
-2,326
-3,028
-3,653
-1,247
759
-3,166
8,304
7,493
^28
5,097
2,824
-4,140
925
5,440
138
1,822
3,480
-3,373
4,995
7,615
146
2,522
4,947
-6,082
-184
-433
6,294
4,226
31
1,867
2,327
-1,947
103
-2,408
2,006
78
359
1,569
-2,089
-150
-756
-730
-2,460
-3,189
3,463
665
1,026
1,771
-4,018
5,390
196
1,726
3,468
-4,657
297
-1,127
-3,827
-4,751
-1,124
-1,897
-1,731
-388
-1,663
4,016
126
2,010
1,879
530
-2,034
-2,324
-525
-707
-531
-693
-678
618
-4,407
5,025
-107
-1,253
1,147
-280
-918
-544
979
-637
-4,302
43
-2,112
-2,233
7,117
9
-582
7,689
899
329
-145
701
-90
-350
437
1,176
1,413
1,163
1,242
1,956
-1,532
7,376
9,312
-1,936
-5,256
-3,653
786
-4,439
7,322
7,493
8,557
-1,064
-5,122
4,950
-1,424
6,374
29
5,440
5,953
5,680
7,615
8,369
-3,820
5,390
6,323
-513
-755
-933
-918
-4,270
-1,142
2,304
-3,446
-5,398
3,463
3,572
-2,931
4,016
4,728
-109
-4,459
-4,751
-1,924
-2,827
-275
-285
-285
-278
-275
-296
-348
7,606
7,493
314
5,440
138
1,822
3,480
-3,985
5,958
7,615
146
2,522
4,947
-5,120
-3,012
2,006
78
359
1,569
-2,694
1,539
-3,199
-1,258
7,376
257
2,352
4,767
-4,981
26
-1,979
-3,028
-3,653
-1,247
759
-3,166
-568
-722
-650
-584
-664
-520
-559
-748
-712
-150
-184
-433
-3,544
5,390
196
1,726
3,468
^,183
297
-1,453
-3,235
4,950
-1,070
-1,342
-2,459
-1,142
27
-53
-1,116
-1,498
-3,189
3,463
665
1,026
1,771
-3,827
-4,751
-1,124
-1,897
-1,731
5,607
4,226
31
1,867
2,327
-2,635
103
-1,075
-1,663
4,016
126
2,010
1,879
-569
-518
-533
-688
-666
-428
5,097
2,824
-4,837
-636
6,656
-555
-671
161
134
154
130
115
119
148
63
-1,030
1,093
326
336
-1,168
1,504
755
328
-1,165
1,493
250
-1,258
1,508
80
-1,148
1,228
21
-1,090
1,111
276
1,073
1,349
242
-1,095
1,337
-985
-673
269
-1,032
-451
182
1,741
-699
-520
-2,516
-1,813
-1,435
-219
-616
107
-955
-3,862
1,147
-2,242
-2,767
-2,097
175
-1,573
-227
-287
-635
107
1,281
-280
1,217
2,260
-1,043
-699
-472
-2,520
-3,407
-1,435
-219
-909
118
-1,525
656
-4,849
3,691
3,743
-52
-5,914
245
-3,081
-3,078
-2,097
175
-1,573
-227
-659
-581
-593
-750
3,630
3,678
-47
285
-67
-688
-7,435
-1,150
3,650
3,684
-34
285
-62
-537
-644
-7,173
-1,214
130
226
3,391
3,446
-55
275
-80
6,656
253
-7,354 -11,841 -15,224
-3,355 -6,448 -3,071
-712
130
-598
-827
-1,468 -1,448
-1,289 -4,288 -2,377
-3,443 -4,824 -3,805
-331
-1,363
1,548
-2,331 -2,692
-967
-1,113 -2,162 -2,661
-570
-8,348
-556
1,044 -1,415
1,425
409
-716
-236
-1,744 -2,023 -6,217
3,370
3,408
-38
1,122
-518
-636
163
3,269
3,322
-53
254
2,414
-1,244
3,658
-2,161
-2,676
516
-2,161
-2,674
514
-654
-781
148
3,287
3,324
-37
750
2,892
-1,533
4,425
-2,142
-2,729
587
-636
-401
-152
149
3,497
3,549
-52
1,667
3,786
-1,817
5,603
-2,119
-2,691
571
-2,459
-1,142
27
-53
-1,116
1877
8,994
3,522
3,569
-47
3,675
12,399
-7,648
20,046
-8,723
-11,018
2,295
-3,235
4,950
-1,070
-920
269
-1,032
915
2,401
-1,486
36
-593
-750
-781
-1,852
-6,378
-1,000
-2,065
-3,313
-3,589
503
-2,534
-1,559
1,141
2,360
-1,220
-741
-537
-149
12,897
1,691
4,997
6,209
1,250
2,479
-1,229
-6,273
-11,910
3,618
-1,624
1,097
4,145
-727
-226
12,718
1,721
5,202
5,794
1,146
2,374
-1,229
12,619
27,925
113
11,794
16,018
-18,924
-840
-309
11,178
1,814
4,553
4,811
4,451
9,614
-5,163
-1,122
-835
11,452
2,769
4,404
4,280
3,371
3,404
-34
4,994
-758
-378
12,064
2,152
4,894
5,018
3,934
3,989
-55
11,497
27,925
32,192
-4,267
-20,046
3,618
5,238
-1,620
-448
-253
14,276
3,320
4,802
6,155
3,187
3,224
-38
527
-464
-163
12,140
1,946
4,613
5,580
3,169
3,222
-53
-635
13,303
12,747
8,151
4,596
556
1,005
13,089
1,538
5,342
6,209
3,029
3,066
-37
1,472
13,086
12,601
8,903
3,698
485
950
12,681
1,901
4,986
5,794
-1,744
-917
12,950
12,510
8,853
3,657
440
978
353
7,689
2,907
-1,170
11,297
10,969
6,294
4,675
329
1,055
352
-236
-354
11,539
11,235
8,018
3,217
304
1,144
\\\P
381
-582
-183
12,125
11,796
7,803
3,993
328
1,163
IIr
I
268
-8,699
-3,355
13,317
13,500
14,260
13,833
7,833
6,000
427
1,185
IV
313
1,879
557
21
1,173
-535
III
370
378
-5,795
II
362
-28,197 -13,160
-11,650 -2,405
-1,689
-401
1 895
-152
-6,066 -1,852
-18,949 -7,166
-2,653 -1,221
-7,474 -2,300
-8,822 -3,645
2,402 -3,589
2,981
503
-2,943 -2,534
2,363 -1,559
-2,834
-2,426
7,117
9
12,150
11,594
5,448
6,146
556
1,005
I
264
226
-637
III*
13,255
12,770
7,019
5,750
485
950
1992
1991
329
309
1,062
Seasonally adjusted
1992
-653
-584
-76
-2,034
-2,324
-664
1,539
-3,199
-567
-548
707
174
-709
-720
143
172
960
276
-1,238
1,514
174
-1,414
1,588
-896
1,856
54 • December 1992
SURVEY OF CURRENT BUSINESS
Table 6.—Securities Transactions
[Millions of dollars]
Line
1991.
(Credits +; debits -)
A1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
B1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Foreign securities, net U.S. purchases (-), (table 1, line 45 or lines 2 + 13 below)
Stocks, net U.S. purchases
New issues in the United States
Of which Western Europe
Canada
Latin America ...
oKr.z: LZT..ZZ i r.
zz; zr; ZZTTZ
"
Bonds, net U.S. purchases
New issues in the United States
By issuer:
Central governments and their agencies and corporationsl
Other governments and their agencies and corporations
Private corporations
International financial institutions2
By area:
Western Europe
Canada
Japan
Latin America
Other countries
International financial institutions2
International financial institutions2
Other transactions in outstanding bonds net3
Western Europe
.
'
Of which United Kingdom
Canada
Other
U.S. securities, excluding Treasury securities and transactions of foreign official agencies, net
foreign purchases (+) (table 1 line 59 or lines 2 + 10 below)
Stocks, net foreign purchases
...
By area:
Western Europe
Of which Germany .
Switzerland
United Kingdom
Canada
Japan
Other
.
.
.
.
. ..
Corporate and other bonds net foreian purchases
New issues sold abroad by U S corporations
U S federally-sponsored agency bonds net
Other outstanding bonds net
By area:
Western Europe .
Of which Germany
Switzerland
United Kingdom
Canada
japan
Other countries .
.
International financial institutions2
.
. . . .
III*
-9,526
-11,783
-12,403
-11,305
-8,703
-6,747
-9,145
-8,532
-5,732
-7,487
-2,755
-8,613
-332
-1,945
-1,291
-388
-610
-2,378
-1,082
-927
-2,417
-1,142
-2,755
-2,347
(D)
155
-24,210
-11,343
-6,391
608
-13,275
-200
(D)
D
-627
389
-4,884
80
(D)
-203
-868
-100
-674
-7,200
-4,458
-2,465
306
-2,504
-7,241
-2,950
1 821
-544
-451
-3,354
-1,935
-1,478
373
-2,507
715
-6,560
-2,893
-1,767
346
-1,543
-2,470
( )
-1,424
-6,415
-2,000
D
( )
-460
-3,380
-1,059
-338
908
1,071
178
-320
1 104
-14,103
-5,858
-4,037
-2,362
60
-1,583
-298
-14,861
-2,779
-2,638
-3,871
-5,573
-1,216
-5,466
-20,993
-5,261
-7,016
-2,544
-6,172
-4,674
-5,361
7318
-1,452
-6,000
-10,099
-3,442
-95
-1,519
-2,163
-1,484
-1,100
-1,495
-3,726
-257
-791
-288
-1,742
-1,706
-1,722
-2,418
-2,525
-695
-159
-2,343
-2,468
-1,104
-1,031
-1,635
-3,772
-455
-130
-880
-7,054
-7,840
-1,455
-2,322
-2,390
-2,503
-1,241
-1,968
-2,319
-1,197
-2,162
-1,566
-3,404
-1,612
-2,655
-860
^155
-261
-1,165
-618
-350
-1,692
-3,442
-1,078
-1,484
7,401
1,604
4,435
643
719
748
81
447
213
7
-1,269
-13,617
-14,262
-4,399
2,399
14,348
1,734
732
339
283
-643
-696
-347
-5,490
-667
-339
-268
-101
-513
-695
-159
-1,104
-130
-680
1,396
696
581
119
1,822
344
1,153
20
305
3,435
483
2,254
291
407
1,483
187
864
361
71
1,539
141
655
120
623
1,810
390
700
620
100
-3,149
-7,630
-6,353
1,333
2,982
3,238
1,010
-2,531
201
2,074
-2,836
-9,957
-9,258
-1,223
2,006
6,338
1,975
-3,377
-2,470
803
1,683
2,866
-1,644
-2,533
-3,813
125
51
713
18
-1,654
-1,450
11
-2,507
4,1(58
34,918
4,862
15,212
10,012
4,832
4,551
10,333
3,076
9,175
1,416
7,453
2,062
-1,756
-3,131
-1,478
-4,002
-150
-973
-325
-834
99
69
74
148
591
0
1,372
-2,699
73
-1,669
253
-1,496
872
-3,336
1,002
-1,745
91
183
-1,105
689
-3,828
-629
-614
-928
806
4,603
3,731
1,093
4,501
2,256
3,423
94
1,160
1,071
1,177
1,879
974
25,743
3,446
7,759
7,950
6,588
20,931
8,823
-4,011
3,241
851
8,092
1,556
-1,889
4,176
3,785
-11
13,071
1,569
569
9,370
1,292
5,706
5,667
7
1,748
261
459
563
557
218
772
151
5,183
449
476
3,589
682
992
1,080
2,757
259
74
2,408
-178
-134
2,262
1,301
410
949
15,571
-3,442
-29
-88
854
2,092
-4,185
-338
-89
.
IIr
I
-45,017
-347
Redemptions of U S -held foreign bonds3
Western Europe
Canada
IV
III
-30,156
J
.
II
-8,221
-5,946
Western Europe
Of which United Kingdom
Canada
Jaoan
1992
1991
I
-229
-248
197
779
-646
-646
-166
3,240
2,253
-1,664
1,184
-140
-101
-184
-706
-151
-409
-2,324
-234
-238
284
298
7,682
11,811
7,078
5,422
2,631
-1,465
6,077
2,699
-1,094
7,077
4,976
-242
5,480
1,097
501
3,383
600
4,513
991
313
3,504
5,028
471
4,480
341
-135
-181
-119
-440
2,810
219
1,256
1,562
168
-487
-107
3,934
3,513
-32
-2,042
4,714
-42
3,426
59
1,743
4,881
278
5,361
540
217
4,322
1,699
141
-104
-525
8,631
Memoranda:
Other foreign transactions in marketable, long-term U.S. securities included elsewhere in international
transactions accounts:
1
2
3
4
5
Foreign official assets in the United States (lines in table 9):
U S Treasury marketable bonds (line A4)
Other U S Government securities (line A6)
U.S. corporate and other bonds (part of line A14)
U.S stocks (part of line A14)
Other foreign transactions in U S Treasury bonds and notes (table 9, line B4)
See footnotes on page 64.
-219
102
13
15,069
474
210
-115
-1,581
10,227
1,075
186
197
-9
-216
-4,558
912
241
-1,241
3,498
December 1992 • 55
SURVEY OF CURRENT BUSINESS
Table 7.—Claims on and Liabilities to Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns
[Millions of dollars]
19<)1
Line
A1
2
3
4
5
B
7
8
9
10
11
12
13
14
Claims, total (table 1, line 46)
Financial claims
Denominated in U.S. dollars .
Denominated in foreign currencies
By type: Deposits l 12
Other claims
3
By area: Industrial countries ...
Of which United Kingdom
Canada .
Caribbean banking centers4
Other
Commercial claims
Denominated in U.S. dollars .
Denominated in foreign currencies
15
16
By type: Trade receivables
Advance payments and other claims
17
18
19
By area: Industrial countries53 ...
Members of OPEC ...
Other
R1
?
3
4
5
fi
7
8
9
m
11
1?
1991
Debits -; decrease in U.S. liabilities or increase in U.S. assets.)
Commercial liabilities
Denominated in U.S. dollars
Denominated in foreign currencies
13
By type* Trade payables
. ..
Advance receipts and other liabilities
14
15
16
By area: Industrial countries53
Members of OPEC
Other
See footnotes on page 64.
III
ing June
30, 1992
2,304
-298
1,269
4,764
3,137
n.a,
96,898
2682
5,678
-2,996
-718
2436
4341
3471
-555
-674
2,991
4,298
43
2,649
822
na
n.a.
n.a.
79752
66,121
13,631
7,997
-1,032
2,779
2,966
-718
2,970
5,003
3,825
-214
-284
-534
-662
-354
n.a.
n.a.
75,650
4,102
5,459
3,995
1,916
1,525
-19
2,794
2,223
325
2,179
1,341
1,015
569
-66
-1,919
-1,909
345
1,245
-44
2,405
2,340
231
-35
66
3,822
2,935
1,205
955
1,577
4,217
1,864
30
n.a.
n.a.
n.a.
n.a.
n.a.
57,402
40,023
11,974
21,052
1,298
-1 439
-1,175
-314
-296
420
-1 167
-1,011
423
-334
-109
-225
na
n.a.
n.a.
17146
16,192
954
n.a.
n.a.
14,594
2,552
-129
n.a.
n.a.
n.a.
11,063
1,071
5,012
1,141
n.a.
47,282
n.a.
-254
25
-18
-378
-346
-32
-583
-856
-128
-186
-263
-115
-1,120
-417
-248
223
449
-226
238
-69
450
-47
150
-910
-549
-361
-277
-619
-445
236
-527
-520
-565
69
45
-1475
-1,652
1 132
242
-119
-1,275
-628
-697
-309
-561
-11
-1,430
-465
847
..
\\P
2,251
-405
..
1
IV
2565
2,311
254
-96
By area* Industrial countries3
Of which United Kingdom
Caribbean banking centers4
III
5,526
-223
Denominated in U S dollars
Denominated in foreign currencies
II
6965
7,390
-425
-264
Liabilities, total (table 1, line 60)
I
Amounts
1992
198
-608
-110
-260
-17
65
152
-341
_1
-998
-926
-72
-44
0
475
-58
677
-257
422
-16
14
-156
342
81
-869
-298
308
115
-426
-877
-149
-141
235
35
153
-161
1,575
725
1,942
895
758
137
515
500
15
1,456
1 354
760
666
175
-40
32
1 656
680
815
-135
-142
-856
340
340
-1 243
515
180
-15
164
81
-436
-490
-442
380
103
102
695
-265
65
92
-44
-79
-1225
1,146
na
n.a.
21,585
16341
5,244
842
-13
-786
-135
na
na
n.a.
na
17080
6,964
3,123
1 382
na
210
-21
231
486
548
-62
1 220
994
226
na
n.a.
25697
24,248
1,449
-21
231
512
-26
586
634
na
na
9,500
16197
99
116
na.
n.a.
na
15,330
2,669
7698
221
-297
286
-472
101
857
1 005
$6 • December 1992
SURVEY OF CURRENT BUSINESS
Table 8.—Claims on Foreigners Reported by U.S. Banks
[Millions of dollars]
1992
19<J1
Line
(Credits +; decrease in U.S. assets. Debits -; increase in U.S. assets.)
1991
I
II
III
IV
I
IK
1 Total (table 1 line 47)
-4,753
17,909
-1,846
2,403
-23,219
15,859
10,943
By type:
Banks own claims
-9,192
13,669
-2512
3223
-23 572
13,497
-2889
12278
-7383
6207
-13991
1 136
-14 534
710
4,939
5,992
4794
6731
-2,791
3,540
-6950
-4411
4175
-197
1 953
1 052
4,586
-1,384
-14331
-2662
-1,031
4,033
557
3166
9276
6,985
1 014
3
3,745
1 468
2239
-4,094
-714
4946
-15 091
-2456
1 659
-2191
5717
750
-10695
-5879
1 739
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
Payable in dollars
By borrower:
Claims on:
own foreign offices
unaffiliated foreign banks
foreign public borrowers1
other private foreigners
By bank ownership:2
U.S.-owned banks' claims on:
own foreign offices
unaffiliated foreign banks
other foreigners
Foreign-owned banks' claims on:
own foreign offices
unaffiliated foreign banks
other foreigners
Payable in foreign currencies ...
......
Banks' domestic customers' claims
Payable in dollars
Deposits
Negotiable and readily transferable instruments
Outstanding collections and other
Payable in foreign currencies . ..
By area:
Industn'al countries3
Western Europe
Of which United Kingdom
Canada
Jaoan
Other '
'
27
Caribbean banking centers4
28
29
30
31
32
33
Other areas
Of which Members of OPEC included below5
Latin America
Asia ....'
Africa 6
Other
Memoranda:
1 Internationa! banking facilities' (IBF's) own claims, payable in dollars (lines 1-13 above)
By borrower:
Claims on:
2
own foreign offices
....
...
...
3
unaffiliated foreign banks
4
foreign public borrowers
5
all other foreigners
By bank ownership:2
6
U S -owned IBF's
7
Foreign-owned IBF's
8 Banks' dollar acceptances payable by foreigners
See footnotes on page 64.
Amounts
III*
ing Sept.
30, 1992
-440
629,418
2,801
12,180
558,724
925
26397
485 539
541
2631
6
-2,042
3,737
1 888
946
-5,646
17,057
6194
4,520
-1,374
297,556
105854
31,411
50,718
-6079
1 398
2088
-8,845
-6387
-5381
2,023
1 837
-3190
23,227
-2385
3000
125 179
37 635
46314
6047
1 766
-1 744
-8252
-4060
914
9386
9018
3345
1 714
51
-1 510
-6170
8579
146
172377
68219
35815
1 391
4871
-2984
-9581
12361
1876
-14217
73 185
4439
1,404
-866
3,417
-1 147
3035
4240
2,306
-2680
5907
-921
1934
666
-2,061
-2336
280
_5
2727
-820
-120
-122
94
-92
-700
353
1,279
4272
-2864
-129
-926
2362
1,950
-2282
4010
412
8142
9,708
424
8,875
409
-1 566
-12620
-13,140
1 750
-14,018
-872
520
70 694
66,786
15 348
38,258
13180
3908
5,531
6501
11978
83
-668
-385
19,962
14432
14609
-1,681
7,002
209
10,682
6942
3634
-1,439
5,470
-291
286
-4234
-2927
2392
2,384
-256
-25,399
-10639
-3338
811
-15,524
-47
28,089
5249
4699
-204
22,380
664
-4,678
-13731
-5472
-261
9,823
-509
-29,083
-7,395
644
-1,327
-20,056
-305
322,307
141 960
39984
21,775
114,2210
4368
-22863
-5,141
-18115
-1597
1,990
-5,199
15,162
30,718
179,248
12579
3024
7841
7,553
231
-3,046
3088
-1359
622
1,064
27
1,375
5587
2174
3646
3708
105
-1872
3714
263
-416
2,262
33
1 835
190
1 946
3989
519
66
-4384
-7031
-3825
-2087
-4,367
139
-716
459
-2173
-604
806
125
132
-2075
-442
-60
-3,737
200
1522
127863
23 393
55064
59,379
3740
9,680
17,321
22,825
-2,771
3,296
-6,029
5,392
8,922
-5,563
225,240
10958
180
6,051
132
16335
5408
639
443
2295
-5065
663
-664
-1 008
817
2,683
804
-6664
-980
2,066
-451
-279
5441
394
-164
4476
2711
1,698
37
-14775
8187
2,215
-1 190
117210
70422
17,835
19773
8929
8392
6886
3688
19*137
1 645
4633
-7404
1 333
1 817
1 479
1 912
-1 209
-4820
1 996
-5982
11 374
1 088
6492
2430
316
1 698
-3865
936
55 538
169702
8507
-6303
m
SURVEY OF CURRENT BUSINESS
December 1992
•
57
Table 9.—Foreign Official Assets and Other Foreign Assets in the United States Reported by U.S. Banks
[Millions of dollars]
1992
1991
Line
(Credits +; increase in foreign assets. Debits-; decrease in foreign assets.)
A1 Foreign official assets in the United States (table 1, line 49)
2
3
4
5
6
7
8
9
10
11
12
13
14
By type:
U.S. Treasury securities (table 1, line 51)
Bonds and notes, marketable
Bonds and notes nonmarketable
Other U.S. Government securities (table 1, line 52)
Other U S Government liabilities (table 1 line 53)
U.S. liabilities reported by U.S. banks, not included elsewhere
(table 1, line 54)
Banks' liabilities for own account payable in dollarsl
Time depositsl 2
Other liabilities . .
Banks' custody liabilities, payable in dollars13
Other foreign official assets (table 1 line 55)
1991
I
II
III
I
IV
II'
III'
Amounts
outstanding Sept.
30, 1992
18,407
5,650
-4,178
4,115
12,819
21,192
20,895
-7,738
430,934
15,815
13,180
2,262
373
1,301
1,600
-1,668
2,612
718
1,965
-3,367
1,125
4,477
-3,442
90
-29
868
2,920
4,254
-3,553
536
-4,185
96
5,624
5,869
12,619
2,298
10,227
94
1,075
11,126
7,135
4,322
-323
4,356
-4,558
-331
-121
1,699
598
7,547
7,759
289
88
7,382
912
875
-8,202
-7,465
130
-1,471
-6,124
383
14,909
9,451
5,361
97
540
96
5,534
5,419
-1,300
1,193
5,526
115
113
-75
-1,000
331,599
113,634
213,462
4,503
15,281
20,381
43,219
40,068
1,761
16,267
22,040
3,151
20,454
24,873
-5,302
9,735
25,309
867,028
-338
-222
-160
1,359
102
4,374
-1,334
766
862
-2,350
706
115
93
474
654
-2,732
-2,913
103
-1,372
-1,644
181
95
2,563
-15,390
-14,122
7,202
16,241
2,850
13,289
-1,306
1,408
-828
10,286
5,364
169,488
670
15,571
758
2,092
-1,780
15,069
275
-1,581
1,417
-9
-303
-525
1,655
8,631
1,866
3,498
21,260
148,228
-3,198
17,891
1,548
5
-2,010
15,210
89
-503
-445
-358
-690
3,114
12
2,086
873
-2,194
493
583
8,558
1,145
1,978
2,814
572
10,905
144,998
13,585
,-13,678
1,078
-3,388
-18,240
-15,986
-10,323
-27,411
-23,445
-17,944
8,508
13,103
9,354
23,465
27,406
15,525
-4,474
-4,920
2,299
-3,219
19,945
18,798
4,396
697,540
629,610
544,444
6,043
-6,513
3,620
1,207
7,729
11,396
10,452
7,811
337,045
-567
1,529
-7,126
2,182
20,829
127,321
59,249
-984
-219
421
-942
1,648
-344
-914
-377
997
2,373
-3,747
-537
-737
-212
By area (see text table D):
B1
2
Other foreign assets in the United States (table 1, lines 58 and 61)
By type:
U S Treasury securities (line 58)
By security:
3
4
5
6
7
8
9
10
Marketable bonds and notes
By holder:
Foreign banks
Other private foreigners
International financial institutions4
U.S. liabilities reported byl U.S. banks (line 61)
Banks' own liabilities
12
13
14
By account:
Liabilities to own foreign offices
Liabilities to unaffiliated foreigners:
demand deposits
time deposits12
other liabilities
15
16
17
18
By holder:
Liabilities to:
own foreign offices
unaffiliated foreign banks
other private foreigners
international financial institutions4
11
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
1
By bank ownership:5
U.S.-owned banks' liabilities to:
own foreign offices
unaffiliated foreign banks
other private foreigners and international financial institutions4
Foreign-owned banks' liabilities to:
own foreign offices
unaffiliated foreign banks
other private foreigners and international financial institutions4
Payable in foreign currencies
Banks' custody liabilities payable in dollars '3
Of which negotiable and readily transferable instruments
By area:
Industrial countries6
Western Europe
Canada
Other
Caribbean banking centers7
Other areas
Of which Members of OPEC included below8
Latin America
Asia
Africa 9
Other
International 'banking facilities' (IBF's) own liabilities, payable in dollars (in lines A9, and B10 above) ...
2
3
4
5
By holder:
Liabilities to:
own foreign offices
unaffiliated foreign banks
foreign official agencies
other private foreigners and international financial institutions4
6
7
By bank ownership:5
U S -owned IBF's
Foreign-owned IBF's
8
..
Negotiable certificates of deposit held for foreigners1 (in lines A13 and B27 above)
See footnotes on page 64.
-2,122
-10,463
3,154
-1,223
-4,150
1,563
-1,316
-16,221
-4,027
984
2,972
4,191
6,043
-6,946
-4,388
1,902
-6,513
-4,830
751
269
3,620
-17,997
-2,866
7,729
7,534
-702
1,207
8,347
-1,747
1,547
-13,451
1,752
-6,454
3,461
701
-1,975
-2,842
-1,994
-4,793
652
925
-229
-451
19,494
-8,698
-2,035
-59
-8,291
319
5,595
-15,155
-1,574
6,000
7,695
-1,125
266
-13,177
3,814
6,936
1,427
-551
-329
1,355
4,103
1,775 •
11,396
-8,539
-2,332
1,774
10452
8,665
-2,663
1,231
7,811
-1,262
924
-3,077
337,045
129,214
70,714
7,471
481
-83
17,096
1,216
2,031
-9,000
429
-4,554
-10,256
610
1,047
125,248
26,699
45,820
7,958
7,053
345
-5,700
-9,755
-2,589
-1,452
8,236
3,122
18,067
-1,872
-3,200
211,797
102,515
32,365
2,890
14,402
85,166
1,147
1,474
67,930
15,892
450,717
321,335
26,002
103,380
274,869
141,442
53,876
47,749
65,027
4,402
24,264
-526
788
•
4,466
-5,663
-5,501
3,749
11,881
-7,219
-14.756
1,973
-2,254
1,256
-3.966
-4,595
-1,151
-3,941
2,096
446
-8,986
-3,371
364
-5,979
11,838
-10,913
-9,242
2,467
-4,138
-8,332
3,855
-3,211
1,638
53
-4,902
13,143
-2,730
-77
-5,356
1,366
,
57
1,203
27,504
18,550
-3,448
12,402
-2,938
307
1,191
-4,793
1,926
130
3,044
-6,031
4,304
-1,337
-10,998
1,693
1,036
3,317
-4,033
2,177
599
2,293
13,683
15,067
25
-1,409
-7,414
3,466
1,423
-10
2,440
54,855
20,216
3,870
30,769
-25,579
-3,967
671
-3,117
1,239
-28
-2,061
-228
-222
8
-375
-5,962
1,974
196
3,473
3,669
61
529
-22,366
-14,317
1,292
-9,341
9,965
-1,721
1 590
4,591
-4,987
-52
-1,303
-16,877
-9,508
-23,020
5,647
10,004
-8,485
-1,548
14,592
304,305
-5,730
-9,605
805
-2,347
-2,839
-6,183
368
7,934
-1,858
3,216
5,640
1,532
245
-6,475
-16,996
1,862
-1,411
-797
-384
781
-8,809
1,765
-2,222
-9,227
5,545
713
1,421
22,857
-3,525
-1,154
-3,586
160,090
104,435
19,735
20,045
-18,432
1,555
-4,409
-5,099
-8,360
-14,660
-4,601
10,248
-1,062
11,066
3,499
11,984
-6,873
5,325
723
13,869
51,999
252,306
383
275
838
-86
654
-759
-396
-289
-728
... .
-269
-252
-404
-731
-644
-991
-387
6,955
SURVEY OF CURRENT BUSINESS
December 1992
Table 10.—U.S. International
[Millions
European Communities (12) 14
Western Europe
(Credits +; debits-)1
Line
1991
1991
1
Exports of goods, services, and income
2
Merchandise, adjusted, excluding military2
3
4
Services3
Transfers under U.S military agency sales contracts4
5
6
7
8
9
10
11
12
13
14
Travel
Passenger fares
Other transoortation
....
..
...
5
Royalties and license fees
Other private services5
..
U S Government miscellaneous services
Income receipts on U S assets abroad
Direct investment receipts .
Other private receipts
U S. Government receipts .
15
16
Merchandise, adjusted, excludino military2
17
18
Services3
Direct defense expenditures
19
20
21
Travel ..
Passenger fares
Other transportation
22
23
24
Royalties and license fees5
Otner private services 5
U.S. Government miscellaneous services
25
26
27
28
29
30
31
32
33
:
Unilateral transfers net
U.S Government grants4
...
.
U S Government pensions and other transfers
6
Private remittances and other transfers
U.S. assets abroad, net (increase/capital outflow (-))
34
35
36
37
38
U S official reserve assets net7
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U.S Government assets other than official reserve assets, net
U S credits and other long—term assets
Repayments on U S credits and other long—term assets8
U.S. foreign currency holdings and U S. short-term assets, net
43
44
45
46
47
U.S. private assets, net
Direct investment
Foreign securities
..
..
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
U S claims reported by U S banks not included elsewhere .
48
Foreign assets in the United States, net (increase/capital inflow (+))
49
50
51
52
53
54
55
Foreign official assets in the United States net
U S Government securities9 .
..
US Treasury securities
Other10
Other U.S. Government liabilities11
U S liabilities reported by U S banks not included elsewhere
Other foreign official assets12
'
56
57
58
59
60
61
Other foreign assets in the United States, net
Direct investment
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
U S liabilities reported by U S banks not included elsewhere
62
IV
III
I
II'
II
III''
III
222,233
56,295
51,755
56,134
57,214
55,480
54,066
191,348
48,665
44,820
116,802
30,387
26,267
29,683
31,120
28,347
26,296
101,278
26,384
22,896
55,996
3,120
13,473
770
15,619
845
14,794
790
14,053
776
15,214
763
16,976
576
46,466
2,138
11,156
550
13,149
526
13,945
5,841
7,473
3,451
1,391
1,816
4,585
1,977
1,906
3,449
1,447
1,892
3,235
1,178
1,870
4,188
1,460
2,060
5,261
2,067
2,111
11,178
5,230
5,795
2,723
1,232
1,402
3,860
1,817
1,492
9,995
15,472
150
2,377
3,647
20
2,329
3,898
80
2,964
4,231
21
2,575
4,383
36
2,663
4,054
27
2,709
4,214
39
8,951
13,047
127
2,134
3,100
15
2,090
3,290
74
49,435
24,136
22,239
3,060
12,435
6,068
5,668
698
9,868
3,872
5,217
780
11,657
5,685
5,261
710
12,041
6,429
4,869
743
11,919
6,262
5,005
652
10,794
5,046
4,824
924
43,604
20,017
20,761
2,826
11,125
5,214
5,254
658
8,775
3,167
4,903
705
-208,323
-53,796
-53,703
-51,790
-49,586
-57,036
-56,838
-177,686
^16,067
-46,042
-101,884
-25,388
-24,848
-26,748
-25,016
-27,472
-27,943
-85,700
-21,332
-21,055
-52,642
-11,657
-14,031
-2,846
-15,169
-2,626
-12,299
-2,639
-11,663
-2,467
-14,987
-2,294
-14,964
-2,197
-45,733
-10,695
-12,152
-2,604
-13,126
-2,371
-12,835
-5,499
-7,928
-4,020
-1,610
-2,021
-4,928
-1,886
-1,999
-2,507
-1,158
-1,985
-2,569
-1,080
-1,960
-5,004
-1,832
-1,956
-6,154
-2,011
-2,156
-11,549
-4,817
-6,128
-3,601
-1,405
-1,535
-4,329
-1,660
-1,561
-2,831
-11,003
-668
-751
-755
-751
-753
-796
-586
-2,681
-3,037
-2,620
-2,886
-1,414
-2,190
-9,618
-514
-2,670
-2,335
-2,360
-196
-298
-218
-216
-262
-235
-738
-159
-889
Income payments on foreign assets in the United States
Direct investment payments
Other private payments
U S Government payments
.
1991
1992
1991
II
-53,797
-1,375
-33,832
-18,590
-14,377
-13,686
-961
-976
-6,622
-4,794
-7,980
-4,730
4,844
-290
4,169
^70
-972
-224
-89
-282
-232
-12,743
279
-8,385
-4,637
-12,907
-710
-7,483
-4,714
-200
-187
-318
-284
-346
-235
1,647
404
425
402
394
-34,754
8,602
-18,487
-26,967
-7,772
4,660
1,529
1,254
1,576
-607
4,660
1,529
1,254
1,576
-607
653
1,116
-39
-8
-82
80
-6
122
-56
199
-21
-40,067
-16,566
-32,821
2,817
6,503
7,080
2,481
-3,302
929
6,972
18,570
1,249
-424
n
-i
124
-46,252
-1,984
-29,238
-15,030
-12,582
-1,195
-7,488
-3,899
102
6,378
252
212
5,314
-9
-67
-141
-252
-755
-11,861
-1,143
-6,845
-3,873
-189
-189
447
494
1,319
449
468
-18,335
-16,333
-30,584
4,807
-16,248
1,904
2,379
5,495
1,965
1,372
1, 304
2,379
5, 495
1,965
1,372
58
509
258
789
-22
-56
-82
29
-3
29
-51
96
-16
-7,395
588
123
779
2, 920
7, 394
2,899
2,151
-5,274
793
5,229
-17,650
-1,346
-11,641
-1,874
-2,789
63
-71
124
9
-13
-167
-142
127
26
-19,863
-1,718
-12,086
-1,825
-4,234
-28,619
-4,882
-14,459
1,360
-10,638
-7,152
-7,958
-7,362
2,920
5,248
-5,891
5,411
28,235
13,708
36, B52
15,285
21, D72
-5,599
7,158
-2,908
869
4,915
9,755
13, 166
-5,208
18)
(18)
(18'|
(17)
17,321
8,188
-2,982
3,773
12,920
8,606
-1,008
17
( )
17
aa
301
-4, 512
-4, 93
2, 134
-13, 730
-20,
(17)
(17)
8
17
18
-161
-268
-259
-13,931
-1,756
-7,488
-4,687
225
1
i"!
-651
76
-149
-14,576
-1,785
-8,004
-4,787
11
4,542
-1,125
(17)
2,856
970
17
23,320
4,159
17
( )
684
-98
17
192
8
-18,770
-2,116
-9,259
n.a.
(17)
17)
17)
$
R
3,953
-4,002
23, 687
4, 730
«Q
-36,
-14,
-32,
;88)
(18)
17
18\
141
110
(18)
R
18)
(18)
(18)
(18)
17
( )
(17)
H
20,493
-452
Q
n.a.
(18J
-33
(18l>
(18)
n
(179is)
n
2,526
2,590
8,418
(18)
6,872
( )
(17)
12,815
678
18_
950
-13,377
-16,980
3,717
-10,527
-2,059
10,101
6,104
2,390
875
227
-2,658
-1,556
18
-1,538
1,647
2,012
-3,137
-2,772
102
-2,670
15,578
733
-2,649
13,662
6,378
20,040
5,052
-1,457
2,598
252
2,850
1,841
23
-3,087
-1,222
212
-1,011
996
17
( )
( )
( )
( )
( )
-2,570
-4,920
15,113
-5,412
14,918
3,354
-4,363
13,910
4,844
18,754
4,999
-1,942
2,499
1,419
450
-3,817
-1,948
-89
-2,037
2,935
2,495
-1,086
4,344
3,
^
638
17
-719
18
-14,348
18
1,424
3,062
Allocations of special drawing rights
63
with sign reversed)
64
65
66
67
68
69
.
Memoranda:
Balance on merchandise trade (lines 2 and 16)
...
...
. ...
Balance on services (lines 3 and 1 7)
Balance on investment income (lines 1 1 and 25)
Balance on goods, services, and income (lines 1 and 15 or lines 64, 65, and 66) 13
Unilateral transfers net (line 29) ....
Balance on current account (lines 1, 15, and 29 or lines 67 and 68) 13
See footnotes on page 64.
-558
-290
2,209
-866
7,628
-200
-187
4,144
7,441
-997
SURVEY OF CURRENT BUSINESS
December 1992 • 59
Transactions, by Area
of dollars]
European Communities (12) "
1991
1992
IV
I
European Communities (6) 15
United Kingdom
1992
1991
II"
III''
III
IV
I
II'
\\\P
Line
1992
1991
II
II
III
IV
115,410
I
IK
\\\P
47,949
50,194
47,965
47,282
54,674
13,965
13,191
12,803
14,671
13,795
13,728
29,492
26,320
29,797
29,792
28,526
27,993
1
25,716
27,501
24,901
23,131
21,515
5,638
4,785
5,501
5,936
5,609
4,947
68,'
197
17,963
15,465
17,351
18,388
16,457
15,512
2
12,242
11,671
12,642
14,459
14,903
3,717
4,282
3,824
3,748
4,033
4,612
7,106
6,772
6,310
6,904
7,934
540
544
374
636
201
144
143
68
140
126
25,222
1,036
5,917
547
265
268
245
241
304
152
3
4
2,727
2,566
1,055
1,446
3,346
1,322
1,594
4,483
1,365
1,024
1,003
1,322
1,645
5,797
1,379
2,058
1,407
1,284
1,677
2,346
479
272
f>94
295
502
286
107
270
477
298
700
301
99
1,635
4,160
2,048
1,131
1,055
1,450
3,346
656
799
381
846
703
848
567
859
2,646
3,570
2,332
3,705
2,395
3,418
2,445
3,555
1,954
4,879
485
451
584
512
506
542
5,f586
1,219
1,266
1,277
1,374
1,285
1,288
6,332
1,366
1,443
1,355
1,593
1,734
1,830
1,522
1,827
1,574
1,674
1,595
1,779
16
26
22
34
95
6
67
9
13
5
10
26
8
5
6
9
9
23
)91
V105
11,022
5,805
4,530
10,422
5,158
4,662
9, 392
4, 389
18,257
3,865
14,346
4,609
1,132
3,476
4,124
4,154
1,226
2,926
4,169
1,198
2,970
21,691
5,612
3,365
1,607
3,749
5,673
3,525
1,544
5,094
3,311
1,191
5,165
4,547
3,()27
2,<192
1,552
1,298
1,2 88
1,<334
7
"rag
<J25
1, )86
953
5
6
7
8
9
10
f>63
687
602
855
46
1
1
42
1, 788
3, 98
1
1
1
5,774
2,553
639
610
604
592
586
757
11
12
13
14
-44,026
-42,318
-48,942
-48,854
-63,131
-16,715
-16,377
-15,502
-15,046
-17,215
-16,225
-98,034
-25,079
-25,149
-24,564
-23,464
-27,263
-27,707
15
-22,410
-21,137
-23,187
-23,873
-18,258
-4,675
-4,539
-4,634
-4,558
-4,904
-5,176
-59,842
-14,712
-14,638
-15,834
-14,742
-16,325
-16,724
16
-10,666
-2,390
-10,171
-2,357
-13,059
-2,085
-12,967
-2,032
-13,852
-1,273
-3,618
-4,058
-3,304
-3,158
-3,458
-303
-287
-270
-240
-4,040
—256
-26,594
-8,583
-7,114
-2,107
-7,354
-1,910
-6,249
-1,994
-5,988
-2,005
-7,489
-1,719
-7,607
-1,665
17
18
-2,308
-1,021
-1,527
-2,305
-4,502
-1,600
-1,533
-5,390
-1,774
-1,716
-3,599
-1,775
-1,618
-1,048
-1,257
-765
-406
-401
-799
-381
-389
-1,293
-1,540
-2,350
-1,198
-1,228
-2,572
-2,934
-574
-376
-631
-438
-6,261
-2,166
-3,284
-2,053
-646
-801
-741
-1,535
-452
-821
-400
-841
-735
-840
-794
-930
19
20
21
-284
-292
-1,117
-4,697
-260
-287
-309
-296
-302
-1,124
-1,130
-1,343
-1,082
-1,176
-487
-123
-127
-134
-136
-146
-303
-834
-147
22
23
24
-2,480
-2,735
-3,448
-3,376
4,924
-948
4,448
-571
-577
-591
-593
-2,675
-2,273
-2,538
-1,276
-1,048
^1,380
-175
-175
-210
-187
-159
-10,950
-11,010
-256
-274
-280
-1,189
-1,061
-1,229
-18
-14
-31
-16
-7,330
-7,590
-1,065
-4,868
-1,657
-11,598
1,138
-3,253
-3,157
83
543
-20
-1,535
-6,093
-1,658
-1,678
227
6,107
129
5,502
n
-108
-593
-869
-4,305
-3,955
-1,455
-1,556
-8,272
-1,254
-5,369
-1,649
268
776
205
217
163
195
203
-82
(*)
n
_•fit)
-77
-82
-808
-292
-5,536
-1,434
203
1,260
-1,095
-16
-7,563
175
1, 379
-247
-5, 46
-6,164
-257
13,:J64
-1,079
-7,780
-1,179
159
-613
-593
-428
-8,422
-1,322
-5,670
-1,430
-3,822
169
>97
4,987
211
3,225
-31,021
-3,355
-21,959
-5,707
-12,696
-1,679
-7,001
-4,016
-12,013
-1,594
-6,473
-3,924
-7,J
-505
-421
3,477
(528
3,495
n
-6,<
682
228
-407
-436
-1,440
-1,523
-1,J08
-1,164
-1,602
-1,623
-1,539
-1,533
-1,476
25
26
27
28
144
166
149
162
212
29
2
0
-111
n
271
260
275
323
30
31
32
-30
447
485
547
894
-30
234
-29
437
247
193
-31
226
-32
234
-31
258
1,032
236
(*)
_ 07
251
-20,427
-6,481
-10,173
-12,217
-9,473
7,011
-13,085
-12,115
-1,174
-3,957
-7,523
-18,785
-1,580
-3,084
-7,907
-3,222
-3,083
-3,350
33
1,620
511
3,098
3,572
-5
-1
-1
-1
-1
-1
-2
5,500
1,966
1,374
1,621
512
3,099
3,574
i"620
511
3,098
3,572
-5
-1
-1
-1
-1
-1
-2
5,500
1,966
1,374
1,621
512
3,099
3,574
34
35
36
37
38
68
-79
13
-98
90
20
-9
-70
50
12
-3
126
4
-1
109
-4
9
-4
-16
-4
-2
-4
29
8
133
113
12
22
4
-1
113
-4
-4
9
-4
-38
6
-9
6
-8
1
-5
29
1
1
0
""i
-13,262
-3,930
-2,836
2,784
-9,280
-15,786
-1,165
7,009
4,536
-2,326
1,165
3,634
-12,223
-1, 69
-3,964
-7,518
-1,926
-6,236
-24,269
-11,105
-3,542
-1,106
-2,620
-4,456
-2,145
-9,524
-3,895
-1,887
-3,763
-2,598
-1,365
-6,183
-3,598
-6,932
1,129
-207
-202
-6,790
-9,593
-1,723
-23,555
3,707
11,978
-13,082
-6,819
-7,005
-7,851
-5,844
2,931
3,759
28,201
7,748
28,910
24,442
8,502
(18)
2
(18)
(18)
8J
(*)
44
-189
-196
149
-2
-22,115
-3,461
-13,^174
1,«.39
'1
-200
)l8)
-197
-118
_ 41
5
-7,331
i.a.
/18V
! 35
30
R
/IS)
5,; 51
18)
-1919
3$
2, 354
,
>23
i
248
-4,596
961
-2,927
-11,214
2,081
-3,338
-4, 134
3, 162
4, 599
-3,579
4,126
-5,472
-1,038
3,011
11,473
11,692
13,101
R
R
R
R
R
18)
PI
R
421*0
'(18)
-K?
.3
18)
2,118
4,660
2,
1, 508
1,147
47
i
18
20,438
18
(18)
(18)
2 146
3,363
1, 374
9,123
910
565
l.a.
986
9,581
18
21 ,403
18
22,546
18
-5,864
-288
-4,705
F
P
-7
45
(.8)
18
646
301
300
18\
13
18)
'(18)
-8,<
-1,<
I8
-1,259
(18)
-182
18
8,396
18)
644
10,896
-14
-4,794
R
R
R
8)
R
*)
18\
18)
!
8J
—76
n.a.
j'j
-13
R
-53
o
2, 008
773
18
9,<528
2,829
(18)
18
220
10,033
8\
-3,535
402
13,713
-6,169
-73
R
R
Rs
()
-24
'i
R
R
433
186
-114
-112
990
-1,D37
— 781
-2,538
-7,280
9,571
15,741
n.a.
?
}
-96
"I
•!
-2
321!
161
2,364
(18)
-4.Q
18)
3, 251
-506
2,038
253
_ 344
732
473
-174
'(18)
n.a.
18
-6,110
-398
18
-9,571
18
435
18
9,959
123
18
-1,915
40
2.I3
(18)
18
18)
(18)
345
387
265
n.a.
6,141
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
')
(18)
3$
18)
1,189
9,752
-107
216
-116
R
']
(18)
18
596
- 27
a
(18)
-2,411
-412
8J
-17
-£
18)
18)
-107
-8, 20
—t127
-4,617
R
12
-427
18
15,438
56
57
58
59
60
61
62
-11,857
-9,318
3,306
1,576
6,364
1,500
1,714
-358
3, 924
159
12
-2,274
-2,322
7,876
-977
-1,572
268
4,083
8,051
175
-17,963
-417
203
-774
-10,921
-742
1,492
-1,304
13,042
-10,338
8,651
-3,428
3,257
1,050
-12,764
-8,456
963
99
246
224
867
520
1,378
-3,812
-2,750
-3,656
-4,086
-2,699
-2,343
776
205
-3,186
217
-7,680
-2,546
-2,969
3,179
163
-2,536
590
— 375
195
-180
-5,927
705
-7
-4,118
-3,420
-1,104
-4,684
1,833
-229
8,655
-1,372
10,093
17,376
3,251
-1,197
2,359
4,413
6,107
23,483
1,153
-3,421
-2,497
203
227
-3,217
-2,270
1,337
827
-11,206
1,517
2,915
3,646
523
322
3,193
5,233
2,360
6,327
129
592
1,171
144
166
4,541
1,315
5,399
-248
-7,912
-12,889
63
132
-1,212
64
65
66
67
68
69
-586
327
1,717
1,171
149
1,263
162
6,476
1,425
286
212
498
SURVEY OF CURRENT BUSINESS
6o • December 1992
Table 10.—U.S. International
[Millions
Canada
Eastern Europe
(Credits+; debits-)1
Line
1991
1991
1992
Exports of goods, services, and income
1991
1991
III'
6,769
1,243
1,442
1,849
1,651
1,550
1,766
113,517
30,007
27,781
Merchandise, adjusted, excluding military2
4,838
941
1,004
1,509
1,279
1,230
1,394
85,006
22,618
20,506
Services3
Transfers under U.S. military agency sales contracts4
1,101
1
250
D
322
0
301
1
274
1
301
17,982
129
4,524
36
4,669
Passenger fares
Other transportation ,
387
105
309
101
26
56
113
26
109
106
34
74
76
20
110
100
21
73
119
24
73
8,499
1,040
1,094
2,225
260
259
2,251
233
287
Royalties and license fees5
Other private services5
U.S. Government miscellaneous services
18
260
21
5
58
5
4
65
4
4
70
9
5
84
4
4
66
10
5
75
5
1,215
5,955
50
1,446
10
307
1,535
19
830
-7
186
651
52
2
50
(*)
116
5
51
61
42
-14
55
72
-7
62
16
46
-4
49
0
72
14
48
9
10,529
3,075
7,433
2,866
2,606
Income receipts on U.S. assets abroad
Direct investment receipts
Other private receipts
U.S. Government receipts
Imports of goods, services, and income
Merchandise, adjusted, excluding military2 .
-2,844
-706
-1,799
-404
Services3
Direct defense expenditures .
-701
-752
-890
-103,504
-26,818
-25,821
-455
-481
-421
-555
-93,008
-24,312
-22,532
-2,902
-773
-273
-1
-171
-1
-171
-1
-279
-1
-279
-1
-8,339
-246
-2,085
-66
-54
-134
-50
-16
-60
-45
-10
-75
-140
-29
-65
-139
-30
-3,705
-249
-837
-972
-66
-204
-1,724
-1
-36
-5
-1
-36
-8
-1
-34
-5
-1
-34
-10
-1
-35
-5
-93
-3,035
-175
-24
-718
-35
-22
-734
-58
-58
-50
1
-20
-30
-52
1
-18
-35
-56
1
-16
-41
-2,157
1,841
-2,806
-1,192
-421
614
-734
-301
-387
617
-684
-320
-318
-70
-84
-389
70
-97
27
-97
14
-6,683
-5,473
927
-341
-84
-237
-125
-26
Other private services5
U.S. Government miscellaneous services .
-3
-137
-22
-1
-34
-6
U.S. Government grants4
U.S. Government pensions and other transfers
Private remittances and other transfers6
-216
1
-50
-56
-79
-138
-19
-31
-8
-36
n
-38
-2,454
-203
-1,827
-216
-235
-225
-1,697
-28
-728
-18
-7
-178
-1,637
-7
-183
-24
-7
-185
-37
-7
-191
-36
-8
-182
-30
-8
1,331
-1,005
-502
-608
-643
U.S. assets abroad, net (increase/capital outflow (-)) .
789
1,807
10
-252
-2
Travel
Passenger fares
Other transportation .
Income payments on foreign assets in the United States ,
Direct investment payments
Other private payments
U.S. Government payments
21
997
1,868
0
-274
-225
-92
-219
7
U.S. official reserve assets, net
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. credits and other long—term assets
Repayments on U.S. credits and other long-term assets8
U.S. foreign currency holdings and U.S. short-term assets, net
1,334
-2,502
3,831
5
-32
-35
U.S. private assets, net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns .
U.S. claims reported by U.S. banks, not included elsewhere
-1,967
-242
-33
-161
-22
-15
-18
1,558
-2,145
-52
-51
-2
-227
-31
5
-201
-116
Foreign assets in the United States, net (increase/capital inflow (+))
Foreign official assets in the United States, net
U.S. Government securities9
US Treasury securities
Other10
Other U.S. Government liabilities11
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets12
46
22
50
-4
25
-3
-6,729
-1,276
-7,399
1,863
83
-1,052
905
-791
356
2,392
2,836
67
-1,336
25
a
4,172
-1,324
-326
-867
18
107
83
392
13
R
'11
Other foreign assets in the United States, net
Direct investment
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
U.S. liabilities reported by U.S. banks, not included elsewhere
18
3
2,053
18
-68
430
11
n
n.a.
118
83
168
18
18
a
Allocations of special drawing rights
Statistical discrepancy, and transfers of funds between foreign areas, net (sum of above items
with sign reversed)
Memoranda:
Balance on merchandise trade (lines 2 and 16)
Balance on services (lines 3 and 17)
Balance on investment income (lines 11 and 25)
Balance on goods, services, and income (lines 1 and 15 or lines 64, 65, and 66)13
Unilateral transfers, net (line 29)
Balance on current account (lines 1,15, and 29 or lines 67 arid 68)13
See footnotes on page 64.
,
,
-2,924
-315
3,039
273
614
3,925
-2,454
1,472
537
-2
2
538
-203
335
560
49
61
670
-1,827
-1,158
-207
-434
1,054
127
-16
1,165
-216
798
130
22
950
-235
715
-819
-131
-225
573
2t
15
876
-225
651
-5,848
-1,108
-2,871
-8,002
9,643
8,372
10,013
-1,694
2,439
2,444
-2,026
3,189
-70
3,119
1,960
-84
1,877
-318
9,695
1,767
2,220
SURVEY OF CURRENT
BUSINESS
December 1992
6l
1992
Line
Transactions, by Area—Continued
of dollars]
Canada
Japan
Latin America and Other Western Hemisphere
1992
1991
1991
1991
1992
1991
1991
IV
III*
II"
I
II
IH
IV
I
II"
III*
II
III
IV
I
II"
III*
28/462
29,309
30,980
28,998
118,762
29,538
31,304
31,173
30,790
32,016
32,294
83,965
20,757
21,012
21,234
21,413
19,539
20,488
1
21,677
22,068
23,877
21,728
63,233
15,940
16,514
17,387
17,702
19,142
19,033
47,213
11,881
11,313
11,942
12,199
11,197
11,774
2
4,397
28
4,915
32
4,687
27
4,845
30
24,806
313
5,893
62
6, 368
77
6,781
102
6, 399
70
6,387
98
7,072
93
24,685
431
5,879
100
6,981
98
6,355
112
7,041
112
6,317
76
7,079
79
3
4
1,926
247
306
2,281
342
296
2,160
276
299
2,290
246
317
11,668
2,258
3,734
2,810
555
873
3,295
369
883
3,217
546
1,170
2,737
574
1,107
3,062
• 591
947
3,474
736
982
8,561
4,070
3,105
2,006
940
797
2,718
1,244
807
2,222
1, 066
722
2,470
1,268
714
2,258
1,055
725
2,659
1,249
739
5
6
7
355
1,527
9
290
1,666
8
305
1,600
20
299
1,646
17
622
6,083
128
157
1,401
34
155
1,551
38
174
1,542
31
177
1, 698
36
168
1,486
36
170
1,583
35
3,352
5,151
14
814
1,218
5
857
1,255
3
921
1,307
5
861
1,612
4
887
1,299
17
855
1,404
94
8
9
10
2,388
512
1,876
0
2,325
737
1,580
9
2,416
733
1,683
0
2,425
968
1,449
8
30,723
9,977
19,961
784
7,705
2,616
5,009
81
8,121
2, 315
4,945
262
7,006
2,590
4,341
75
6, 689
2, 736
3,840
113
6,487
2, 964
3,374
149
6,189
2, 951
2,950
288
12,067
2,363
8,356
1,348
2,997
484
2,110
403
2,718
475
1,965
278
2,937
761
1,826
349
2,173
446
1,532
195
2,025
396
1,366
264
1,634
358
1,117
160
11
12
13
14
-26,650
-26,366
-29,321
-27,903
-110,309
-27,528
-27,818
-27,662
-26,638
-27,898
-26,507
-115,863
-26,644
-29,219
-31,229
-27,927
-28,614
-29,688
15
-24,302
-24,042
-26,305
-24,209
-62,971
-15,851
-15,844
-16,296
-15,949
-17,390
-17,742
-91,502
-20,885
-23,241
-24,689
-23,169
-22,531
-24,180
16
-1,795
-60
-1,498
-35
-2,214
-41
-2,869
-41
-20,800
-5,011
-87
-5,136
--89
-5,585
-82
-5,586
-5,420
-4,396
-3,340
-3,269
-3,334
-3,102
-3,365
-112
-112
-12,703
-1,441
-3,029
-109
-344
-373
-336
-357
-285
-285
17
18
-573
-447
_ 959
-74
-1,658
-97
-2,736
-567
-2,963
-3,115
—I579
-2,836
-598
-2,903
-540
-2,304
-555
-560
-140
-654
-155
-680
-153
-764
-160
-514
-545
-563
-4,738
-1,090
-1,322
_ 148
-1,194
-666
-141
-177
-10,955
-2,157
-2,206
-2,625
-178
-1,220
-1,028
-1,174
-51
-4,775
-7
-1,239
-83
-7
-93
-78
-750
-2,864
-51
-200
-679
-171
-651
-182
-763
-192
-746
-181
-749
-184
-783
-5,087
-4,370
19
-3,335
-1,053
-2,244
—48
-229
-31
-811
-43
-552
444
-722
-274
-77
-44
-169
-19
-764
-20
-827
-29
-568
-230
-91
-26
-857
-80
-801
95
-644
-252
-79
-353
-29
-811
-56
-825
6
-541
-290
-94
-514
-537
-303
-26,538
155
-22,437
-4,256
-489
-545
-656
-14
-1,159
-76
-9
-1,160
-87
-17
-1,247
-74
-7
-1,175
--88
-6,666
-86
-5,592
-6,838
-5,781
260
^,954
-1,087
-5,003
243
-4,283
-963
-3,892
-1,057
-2,134
-2,341
-2,108
-111
-5,511
-1,216
-988
-10,125
-2,119
-3,630
-3,842
-138
-14
-14
-12
-26
-15
22
23
24
-11,657
1,484
-7,076
-6,065
-2,730
601
-1,861
-1,470
-2,638
390
-1,543
-1,485
-3,271
-93
-1,691
-1,487
-1,424
1,405
-1,416
-1,413
-2,981
-1,489
-1,373
-2,143
533
-1,216
-1,460
25
26
27
28
8,800
2,123
567
-42
-79
-28
-64
29
624
-10
-47
P1
-To
-53
3
-11
-72
(*)
-11
-17
-11
-53
30
31
32
726
-15,360
-24,921
-102
-613
-554
-118
-2,216
-99
8
-134
-439
-224
-674
-128
-426
-180
-558
-157
9,009
-40
23
8
-5,883
-1,446
-1,492
-1,471
-1,540
-1,502
-1,530
-168
1,749
-83
-3,782
-5,138
-17,848
-15,935
-3,079
1,951
-11,250
11,882
29,647
-1
27
-i
19
8
1,749
1,522
-914
330
811
-4,186
11
ijQ
116
(17)
1,321
-1,822
3,129
14
"9
-5,158
-1,928
-1,903
1,181
-3,791
-H641
-2,446
—i443
-204
-261
-1,327
-19,168
-6,134
659
1,335
-15,028
-850
2,949
1,175
23,517
2, 292
-2,267
-110
-837
-250
-432
12
R
-1,898
31
20
19
(*)
a aR
-2,287
9
3
6
R
39
656
— 128
737
143
570
189
-418
(17)
(17)
n.a.
-266
(17)
18
4$
239
19,242
-389
-272
1,647
-397
2,732
-345
-389
-272
1
-1
-4
-1
-2
1
0
-12,050
21,997
8,591
-461
-207
-668
-686
-249
-297
-24,785
-13
-4,716
30,664
-2,001
-1,423
-2,921
-41
2,384
-15,014
1, 019
-11,073
3,733
544
-2,303
22
5,470
-28,954
-3,201
-5,466
-681
-114
376
-7,290
22,211
12,653
-4,699
5,663
-3,363
a
H
18
_4
21
12
_3
-16
R
R
R
°)
3
3
R
718)
R
H
20
;:}
R
18
-372
']
(18)
(18)
(18)
(18)
2,362
1, 374
18)
-1,186
— 610
1235
-150
18,744
18
72
10,1 91
•3
121
-3,742
18
i.a.
18
3$
17
2,731
\
1,997
-559
-5,642
18
-1
-20,056
13,512
-14,495
-1,908
28,990
48
(18)
49
50
51
52
53
54
55
|
1
695
II
_ 104
(18)
(18)
(18)
18)
1 617
1,680
1 177
3
18
6,801
438
-16,092
A
-66
-9,857
18
(18)
3,241
281
-6,578
18
R
'18)
18
1,117
290
10,732
10
560
R
n
(18)
(18)
(18)
(18)
—715
874
-793
161
-10,31 8
(18)
1 037
-3,Q
18
n.a.
I! s
18
18
18)
-105
3
R
(18)
43
44
45
46
47
9,823
( )
-3g1
39
40
41
42
_ 108
-15,524
18
469
0
33
34
35
36
37
38
140
-62
22,380
5,183
i.a.
-30,290
1
-2
-401
18)
1,
18
-4
-508
(18)
(18)
-1
-102
8)
18
(18
18
18J
-1 1B1
724
331
K4
347
-10
-136
29,653
-2, 700
1, 389
5,978
199
-10
-136
1
11, 399
-1,301
-2,653
1, 303
14,550
-261
3,335
-7
-11,414
-4,528
-480
(17)
-345
2,023
-4,944
1,103
(18)
-162
8,319
2,732
-4,584
-4S165
733
1, 67
-2,019
R
3,442
-18
21,606
-397
-15,918
37
-1,924
438
-14,469
77
8
164
_ 275
388
51
-119
1,647
218
-5
-230
-72
2,147
-10
-14
-10,403
1,505
__•MS
2,217
3
/18\
aR
n.a.
-17
19
20
21
-15
-97
20
-102
-632
18
'118
-3,947
18
-2,280
n.a.
31 ,503
56
57
58
59
60
61
62
702
-1,918
-747
2,963
-3,997
-€,166
-9,218
1,370
3,777
-10,529
-4,236
36,701
5,895
7,594
11. 386
-2,625
2,602
1,836
1,813
-77
1,736
-1,974
3,418
1,499
2,942
-91
2,851
-2,428
2,473
1,615
1,659
-79
1,580
-2,481
1,976
1,600
1,095
-94
1,001
262
4,006
4,185
8,453
-10,125
-1,673
89
882
1,039
2,010
-2,119
670
1, 532
1,284
3, 486
-3,842
-357
1,753
713
1,686
4, 151
-2,341
1,810
1,752
967
1,400
4, 118
-2,108
2,011
1,291
2, 377
1,820
5, 787
-2,244
3,543
-44,289
11,982
410
-31,897
8,800
-23,097
-9,004
2,850
267
-5,887
2,123
-3,764
-11,928
3,642
80
-8,207
567
-7,639
-12,747
3, 086
-109
1,091
1,196
1,225
3,511
-2,134
1,377
-334
-9, 995
-42
-10,038
-518
-10,970
3,707
749
-6,515
-79
-6,594
2,692
5,195
63
-11,334
3,215
-12,406
3,714
64
65
66
67
68
69
-956
-509
-9,075
-28
-9,102
-9,200
-64
-9,264
SURVEY OF CURRENT BUSINESS
62 • December 1992
Table 10.—U.S. International
[Millions
Australia
(Credits +; debits-)1
Line
1992
1991
1QQ1
II
1 Exports of aoods. services, and income
1,884
2,209
2,310
1,812
2,203
2,165
892
61
933
54
893
42
804
53
905
22
970
46
763
372
278
211
94
299
208
102
264
197
94
246
147
90
305
204
90
335
211
98
394
651
3
88
160
0
107
164
0
116
177
3
98
169
1
117
167
2
118
16?
0
1 694
268
67
201
362
176
184
2
528
343
184
1
453
318
134
n
633
484
148
1
598
447
151
-6,933
-1,696
-1,944
-1,725
-1,620
-1,566
-1,601
3
4
Services3
Transfers under U.S military aaencv sales contracts4
3445
11
12
13
14
15
3044
209
1 053
Royalties and license fees5
Other private services5
U.S. Government miscellaneous services
.
Income receipts on U S assets abroad
Direct investment receipts . . .
Other private receipts
U.S. Government receipts
910
781
3
Imports of goods, services, and income
3733
3731
8,255
8
g
10
III''
3740
3,504
13394
Merchandise adjusted excluding military2
Travel
Passenger fares
Other transportation
II'
3069
2
5
6
7
I
IV
III
n
16
Merchandise, adjusted, excluding military2
-3,970
-1 070
-1 058
-897
-926
-959
-891
17
18
Services3
Direct defense expenditures
-2,550
-592
-666
-677
-634
-583
-632
19
20
21
Travel
Passenger fares
Other transportation
-873
-317
-855
22
23
24
Royalties and license fees 5
Other private services 5
U S Government miscellaneous services
-358
25
26
27
28
29
30
31
32
33
-197
-545
..
Unilateral transfers, net
.
U.S. assets abroad, net (increase/capital outflow (-))
U S official reserve assets net7
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U S Government assets other than official reserve assets net
U S credits and other long— term assets
Repayments on US credits and other long—term assets8
U o foreign currency holdings and U S short—term assets net
43
44
45
46
47
U S private assets, net
Direct investment
..
Foreign securities
U S claims on unaffiliated foreigners reported by U S nonbanking concerns
U S claims reported by U S banks not included elsewhere
Foreign official assets in the United States net
U § Government securities9
US Treasury
securities
Other10
Other U S Government liabilities "
U S liabilities reported by U.S. banks not included elsewhere
Other foreign official assets12
56
57
58
59
60
61
Other foreign assets in the United States net
Direct investment
.
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
US liabilities reported by U S banks not included elsewhere
64
65
66
67
68
69
Memoranda^
Balance on merchandise trade (lines 2 and 16)
Balance on services (lines 3 and 17)
.
Balance on investment income (lines 11 and 25)
Balance on goods services and income (lines 1 and 15 or lines 64 65 and 66) I3
Unilateral transfers net (line 29)
Balance on current account (lines 1 15 and 29 or lines 67 and 68) 13
See footnotes on page 64.
32
-52
-42
-49
-131
-128
-12
-80
-9
-1?
-81
-8
-60
71
-30
100
-24
90
-38
-76
-79
3
-24
-57
-27
16
-20
-23
-46
-6
-9
-6
-11
-6
-16
-6
-21
-6
-10
-6
14
101
-420
456
-507
26
-2
2
4
10
1
8
-6
1
3
8
2
1
3
13
-1
97
-430
-419
-510
-246
-128
-533
-259
. .
444
-41
660
-5
-11
6
284
187
(18)
(18)
-534
1,456
18
—13
-803
-486
162
14
171
n.a.
14
716
-187
-488
-2,434
-119
-1,094
(18)
(18)
8\
18)
18
8)
8)
18\
18
18
18
54
41
M
-11
M
-11
(8)
8)
(8)
8
18)
(18)
M
)
(18)
(18)
(18)
186
501
128
(18)
(18)
21
78
804
-248
-385
641
-43
H
M
18
( 8)
18
-487
-551
-170
18
20
-802
12
-431
/ 8\
-485
3
-1 078
1,308
( 8)
Statistical discrepancy, and transfers of funds between foreign areas, net (sum of above items with sign reversed)
-152
-220
-8
-78
-17
-21
1,109
63
-10
-86
-177
-17
.
Allocations of special drawing rights
-21
-100
-67
-181
-207
-14
24
62
-11
-91
_g
-255
-69
-407
Foreign assets in the United States, net (increase/capital inflow (+))
49
50
51
52
53
54
55
-136
-80
-217
-13
-13
-999
-228
-89
-84
-216
-34
152
-51
329
-16
-233
-246
-19
-83
-11
-412
_7
-10
-61
-52
34
35
36
37
38
48
-199
-211
-62
Income payments on foreign assets in the United States
Direct investment payments
Other private payments
U.S. Government payments
U.S. Government grants4
U S Government pensions and other transfers
Private remittances and other transfers6
_S
-34
-352
303
-57
18
-192
1,110
(18)
266
137
2 037
18
-3 714
(18)
64
-298
(18)
(18)
-242
18
(18)
(18)
-393
(18)
228
-80
18
(18)
(18)
15
-206
-28
18
424
18
n.a.
-1,1 63
-1,111
-2,186
-2,955
911
-1,619
4,285
814
1,151
1,413
886
1,244
895
301
234
267
142
216
377
170
393
322
609
339
520
1,449
2,174
2,132
-7,094
1,282
6,461
1348
-69
-14
6392
1 334
1,560
-17
1543
2,006
-216
1,274
-21
-27
-16
-20
1,984
1,422
2,158
2,112
64 • December 1992
SURVEY OF CURRENT BUSINESS
FOOTNOTES TO U.S. INTERNATIONAL TRANSACTIONS TABLES 1-1O
General notes for all tables:
' Revised. * Preliminary. 'Less than $500,000 (±)
n.a. Not available.
D
Suppressed to avoid disclosure of data of individual companies.
Table 1:
1. Credits, +: Exports of goods, services, and income; 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; increase in foreign
official assets in the United States.
Debits, -: Imports of goods, services, and income; 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; decrease in foreign
offical assets in the United States.
2. 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 2.
3. Includes some goods: Mainly military equipment in line 4; major equipment other materials, supplies, and
petroleum products purchased abroad by U.S. military agencies in line 18; and fuels purchased by airline and steamship
operators in lines 7 and 21.
4. Includes transfers of goods and services under U.S. military grant programs.
5. Beginning in 1982, these lines are presented on a gross basis. The definition of exports is revised to exclude
U.S. parents' payments to foreign affiliates and to include U.S. affiliates' receipts from foreign parents. The definition
of imports is revised to include U.S. parents' payments to foreign affiliates and to exclude U.S. affiliates' receipts from
foreign parents.
6. Beginning in 1982, the 'other transfers" component includes taxes paid by U.S. private residents to foreign
governments and taxes paid by private nonresidents to the U.S. Government.
7. For all areas, amounts outstanding Sept. 30,1992, were as follows in millions of dollars: Line 34,74,207; line
35,11,060; line 36,11,561; line 37,9,261; line 38,42,325. Data are preliminary.
8. Includes sales of foreign obligations to foreigners.
9. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible and nonconvertible
bonds and notes.
10. Consists of U.S. Treasury and Export-Import Bank obligations, not included elsewhere, and of debt securities of
U.S. Government corporations and agencies.
11. Includes, primarily, U.S. Government liabilities associated with military agency sales contracts and other
transactions arranged with or through foreign official agencies; see table 4.
12. Consists of investments in U.S. corporate stocks and in debt securities of private corporations and State and
local governments.
13. Conceptually, the sum of lines 69 and 62 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) includes adjustments for the different geographical treatment of
transactions with U.S. territories and Puerto Rico, and (c) includes services furnished without payment by financial pension
plans, except life insurance carriers and private noninsured pension plans. A reconciliation of the balance on goods
and services from the international accounts and the NIPA net exports appears in the "Reconciliation and Other Special
Tables" section in this issue of the SURVEY OF CURRENT BUSINESS. A reconciliation of the other foreign transactions in the
two sets of accounts appears in table 4.5 of the full set of NIPA tables (published annually in the July issue of the SURVEY).
Table 2:
1. Exports, Census basis, represent transactions values, f.a.s. U.S. port of exportation; imports, Census basis,
represent Customs values (see Technical Notes in the June 1982 SURVEY). Unadjusted data are as published by the
Bureau of the Census. Seasonally adjusted data reflect the application of seasonal factors developed jointly by Census
and BEA, and are the same totals except for six series which use quarterly factors; these series are not seasonally
adjusted by Census (see Technical Notes in the June 1991 SURVEY).
2. Beginning in 1990, the Census Bureau replaced its compiled export statistics with counterpart Canadian import
statistics. Similarly, Statistics Canada replaced its compiled export statistics with counterpart U.S. import statistics. This
exchange of data has eliminated the need for the inland freight adjustment on U.S. exports, but not on U.S. imports.
3. Adjustments in lines A5 and A13, B12, B47, and B82 reflect the Census Bureau's reconciliation of discrepancies
between the merchandise trade statistics published by the United States and the counterpart statistics published in
Canada. These adjustments are distributed to the affected end-use categories in section C.
4. 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 A14), to the extent such trade is identifiable from
Customs declarations. The exports are included in tables 1 and 10, line 4 (transfers under U.S. military agency sales
contracts); the imports are included in tables 1 and 10, line 18 (direct defense expenditures).
5. 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; coverage adjustments for special situations in which shipments were
omitted from Census data; deduction of the value of repairs and alterations to foreign-owned equipment shipped to the
United States for repair; and the inclusion of fish exported outside of U.S. customs area.
6. Deduction of foreign charges for repair of U.S. vessels abroad, which are included in tables 1 and 10, line 21
(other transportation); coverage adjustments tor special situations in which shipments were omitted from Census data;
and the deduction of the value of repairs and alterations to U.S.-owned equipment shipped abroad for repair.
7. Beginning in 1986, New Zealand and South Africa are included in "Other countries in Asia and Africa," with New
Zealand included as part of "Asia" and South Africa as part of "Africa."
8. Annual and unadjusted quarterly data shown in this table correspond to country and area data in table 10, lines 2
and 16. Trade with international organizations includes purchases of nonmonetary gold from the International Monetary
Fund, transfers of tin to the International Tin Council (ITC), and sales of satellites to Intelsat. The memoranda are defined
as follows: Industrial countries: Western Europe, Canada, Japan, Australia, New Zealand, and South Africa; Members
of OPEC: Venezuela, Ecuador, Iraq, Iran, Kuwait, Saudi Arabia, Qatar, United Arab Emirates, Indonesia, Algeria, Libya,
Nigeria, and Gabon; Other countries: Eastern Europe, Latin America and Other Western Hemisphere, and other countries
in Asia and Africa, less OPEC. For all years, "Asia" and "Africa" exclude certain Pacific Islands and unidentified countries
included in "Other countries in Asia and Africa."
9. Includes nuclear fuel materials and fuels.
Tabled:
1. Patented techniques, processes, and formulas and other intangible property rights that are used in goods
production.
2. Copyrights, trademarks, franchises, rights to broadcast live events, and other intangible property rights.
3. Other unaffiliated services receipts (exports) include mainly expenditures of foreign governments and international
organizations in the United States. Payments (imports) include mainly wages of foreign residents temporarily employed
in the United States and Canadian and Mexican commuters in U.S. border areas.
Table 4:
1. Expenditures to release foreign governments from their contractual liabilities to pay for military goods and services purchased through military sales contracts—first authorized (for Israel) under Public Law 93-199, section 4, and
subsequently authorized (for many recipients) under similar legislation—are included in line A3. Deliveries against these
military sales contracts are included in line C10; see footnote 2. Of the line A3 items, part of these military expenditures
is applied in lines A40 and A43 to reduce short-term assets previously recorded in lines A38 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 for the recipient countries and is applied directly to lines A39 and C9. A third part of line A3, disbursed
directly to finance purchases by recipient countries from commercial suppliers in the United States, is included in line
A34. A fourth part of line A3, representing dollars paid to the recipient countries to finance purchases from countries
other than the United States, is included in line A45.
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 partly 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.
4. Line A35 includes foreign currency collected as interest and line A40 includes 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 C10 that was delivered
without prepayment by the foreign purchaser. Also includes expenditures of appropriations available to release foreign
purchasers from liability to make repayment.
6. Includes purchases of loans from U.S. banks and exporters and payments by the U.S. Government under
commercial export credit and investment guarantee programs.
7. Excludes liabilities associated with military sales contracts financed by U.S. Government grants and credits and
included in line C2.
8. Lines A16 and A19 exclude offsetting amounts for the receipt and near immediate conversion into dollars of cash
contributions in foreign currencies from two coalition partners tor Persian Gulf operations. The amounts were $6,475
million in 1991:1 and $2,147 million in 1991:11.
Tables:
1. Petroleum includes, and manufacturing and "other" industries exclude, the exploration, development, and
production of crude oil and gas, and the transportation, refining, and marketing of petroleum products, exclusive of petrochemicals. "Other" industries includes wholesale trade; banking; finance (except banking), insurance, and real estate;
services; and other industries—agriculture, forestry, and fishing; mining; construction; transportation, communication, and
public utilities; and retail trade.
2. Acquisition of equity holdings in existing and newly established companies, capital contributions, capitalization of
intercompany debt, and other equity contributions.
>
3. Sales (total and partial), liquidations, returns of capital contributions, and other dispositions of equity holdings.
Table 6:
1. Primarily provincial, regional, and municipal.
2. Largely transactions by International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Asian Development Bank (ADB), and Inter-American
Development Bank (IDB).
3. Estimate for scheduled redemptions and identifiable early retirements. Includes estimates based on Canadian
statistics for redemptions of Canadian issues held in the United States. Unidentified and nonscheduled retirements appear
inlineA30.
Table 7:
1. Deposits include other financial claims for the United Kingdom, Canada, Bahamas, and British West Indies
(Cayman Islands) due to the commingling of these categories in foreign source data.
2. Primarily mortgages, loans, and bills and notes drawn on foreigners.
3. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
4. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.
5. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries.
Tabled:
1. Includes central governments and their agencies and corporations; state, provincial, and local governments and
their agencies and corporations; and international and regional organizations.
2. U.S.-owned banks are mainly U.S.-chartered banks and Edge Act subsidiaries. U.S. brokers' and dealers'
accounts may be commingled in some categories. Foreign-owned banks include U.S. branches and agencies of foreign
banks and majority-owned bank subsidiaries in the United States.
3. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
4. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.
5. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries.
6. Includes Eastern Europe and international and regional organizations.
Table 9:
1. Negotiable certificates of deposit issued by banks in the United States are included in banks' custody liabilities
and are separately identified in memorandum line 8. Nonnegotiable certificates of deposit are included in time deposits.
2. Includes borrowing under Federal funds or repurchase arrangements, deferred credits, and liabilities other than
deposits.
3. Mainly negotiable and readily transferable instruments, excluding U.S. Treasury securities.
4. Mainly International Bank for Reconstruction and Development (IBRD), International Development Association
(IDA), International Finance Corporation (IFC), Asian Development Bank (ADB), Inter-American Development Bank (IDB),
and the Trust Fund of the International Monetary Fund.
5. U.S.-owrred banks are mainly U.S.-chartered banks and Edge Act subsidiaries. U.S. brokers' and dealers' liabilities
may be commingled in some categories. Foreign-owned banks are U.S. branches and agencies of foreign banks and
majority-owned bank subsidiaries in the United States.
6. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
7. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.
8. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries.
9. Includes Eastern Europe and international and regional organizations.
Table 10:
For footnotes 1-13, see table 1.
14. The "European Communities (12)" includes the "European Communities (6)," United Kingdom, Denmark, Ireland,
Greece, Spain, and Portugal.
15. The "European Communities (6)" includes Belgium, France, Germany (includes the former German Democratic
Republic (East Germany) beginning in the fourth quarter of 1990), Italy, Luxembourg, Netherlands, European Atomic
Energy Community, European Coal and Steel Community, and European Investment Bank.
16. Includes, as part of international and unallocated, the estimated direct investment in foreign affiliates engaged in
international shipping, in operating oil and gas drilling equipment internationally, and in petroleum trading. Also includes
taxes withheld, current-cost adjustments associated with U.S. and foreign direct investment, and small transactions in
business services that are not reported by country.
17. Details not shown separately; see totals in lines 49 and 56.
18. Details not shown separately are included in line 61.
SURVEY OF CURRENT BUSINESS
December 1992
Transactions, by Area—Continued
of dollars]
International organizations and unallocated '6
Other countries in Asia and Africa
1991
1992
1991
II
II
III"
57
1,187
1,099
1,055
1,067
1,260
1,189
1,378
402
330
243
231
311
314
349
2,886
111
928
2,262
1
223
562
0
222
547
265
547
1
239
597
0
248
608
93
249
625
0
0
8
9
10
3,398
2,258
792
348
5,858
567
4,517
774
1,465
105
1,169
191
1,375
85
1,107
182
1,733
372
1,184
176
1,604
241
1,191
172
1,695
257
1,269
169
1,477
108
1,196
173
11
12
13
14
-3,321
-809
-805
-793
-782
-768
-758
34,508
34,400
35,802
36,192
10,818
22,194
23,357
22,672
24,495
23,543
390
31,053
6,487
7,331
1,489
8,349
1,443
7,909
1,976
8,598
1,951
8,003
1,831
9,251
1,869
4,569
4,644
1,550
6,159
1,248
396
1,514
1,581
560
1,690
1,004
330
1,582
1,053
303
1,545
1,397
399
1,604
1,788
587
1,661
1,276
10,610
326
310
2,305
71
308
2,699
67
356
2,602
60
334
3,358
54
347
2,350
74
14,179
8,200
4,517
1,463
3,415
1,892
1,184
339
3,656
2,141
1,063
452
3,241
1,914
1,052
275
3,130
1,948
861
320
3,304
2,163
857
283
-165,528
-39,295
-44,167
-43,968
-40,565
-44,705
-50,359
-134,264
-31,517
-36,362
-36,335
-33,050
-36,342
-42,092
-18,235
-2,480
-4,621
-4,756
-4,462
-4,514
-5,212
-5,376
-592
-398
-463
-634
-693
-592
-5,945
-1,775
-4,958
-1,649
-1,769
-1,471
-1,450
-1,942
^52
-1,336
-2,014
-466
-485
-401
-1,228
-1,239
-7
-26
-2,449
-603
-13,029
472
-5,522
-7,979
-589
-556
-451
-541
-541
-543
-1,539
-417
-381
-279
-336
-328
-331
-168
-535
-129
-7
-44
-43
-41.
-44
-44
-128
-44
17
18
19
20
21
22
23
24
-3,171
-51
-1,278
-1,843
-3,001
182
-1,146
-2,037
-3,151
145
-1,201
-2,095
-2,891
262
-1,059
-2,093
-1,079
769
-1,626
-36
-65
-64
-67
-49
-94
25
26
27
28
-155
-2,502
-3,140
-2,429
-5,927
-1,334
-1,294
-1,848
-1,470
-1,782
-1,729
29
1,026
-2,227
-93
-1,348
-96
-810
-747
-118
-189
-231
-4,370
M71
-1,187
-79
-1,160
-414
-182
-985
-47
-1,169
-235
-262
-820
-199
-111
-984
-1,284
-1,134
30
31
32
-932
-5,319
-1,429
-1,361
2,696
-3,175
95
1,791
1,872
33
-544
-118
-109
-7
-61
-167
-291
-177
-367
-190
34
35
36
37
38
-1,164
-1,164
-325
-325
-285
-285
-349
-349
278
1,329
214
-13
-1,252
-918
413
495
-5
-1,820
3,090
326
800
5
1,959
-2,820
161
438
-5
-3,414
-918
-378
-802
2,985
3,739
2,748
-7,249
-125
-384
451
275
-5,180
5,903
-39
-102
-290
-185
-513
-246
446
-132
-322
474
375
-977
-193
-448
-257
-168
-147
-142
3,111
3,464
2,850
-7,209
-1,564
-1,043
-747
-834
-5,187
-1,408
(JQQ
—<jyy
21,220
-450
-331
-312
-273
2,302
-74
3,908
1,463
40
2,292
962
-4,425
-85
692
-3,380
-9,734
5,433
11,172
14,141
10,796
5,235
P
453
135
R
R
n.a.
(18)
<3
tj3
(18)
18
459
3,063
-583
R
R
a
a
a
ijQ
217
9,085
18
18
659
12,510
602
193
R
R
.a
a
&
710
6,059
18
-220
-1
72
-342
-249
223
-407
-168
-169
-161
-241
133
218
-215
280
246
-397
-23
17
6
-114
-227
223
-411
-402
-424
-172
-401
-173
-168
1
111
-118
-174
-174
-255
-255
39
40
41
42
2,418
119
505
'-^88
2,133
33
1,686
5
409
43
44
45
46
47
-2,868
-232
-232
(18)
-1,464
114
2,215
2,135
2,041
-44
1
22
0
0
-21
^44
1
22
0
0
864
-1,122
-1,420
—285
113
—285
2,193
2,135
2,041
-2,868
-278
-275
-296
-348
a
n.a.
2,348
n.a.
1,794
843
3,256
18
389
-89
566
-21
(18)
R
R
478
418
-43
-1 1,040
-177
-132
-1
-221
18\
P
18
-102
-520
-1
332
8,755
-3,148
4,117
-25
7,810
14,961
-2,243
-3,049
157
-1,343
-1,863
-684
-642
15
16
-3,157
207
-1,405
-1,959
-650
£3
&
5
6
7
-626
-166
-3,518
R
3
4
-622
-160
-1,336
-82
-1,085
1
1
2
-648
-137
1,723
-89
1,182
-6,212
8,371
2,666
-671
-140
7,229
-91
9,937
2,955
-572
-160
717
17,445
2,671
-484
-1,487
-7
-6
2,652
-592
-149
13,277
18
-4
-5
III"
2,845
34,199
22,659
-1,386
II"
134
33,405
90,225
-408
I
IV
III
2,608
135,457
-1,224
Line
1992
1991
1991
IIr
I
IV
III
18
23
1,410
<3
81
-1,207
18
a
-145
18
418
a
-4
2,248
18
(18)
(18)
-39
58
2,391
18
1S
501
66
1,770
48
49
50
51
52
53
54
55
(18)
-161
n.a.
18
-2,359
56
57
58
59
60
61
62
-14,363
6,185
80
-4,304
1,775
2,179
16,680
-44,039
12,818
1,150
-30,071
13,277
-16,794
-8,858
2,710
258
-5,890
6,454
564
-14,168
3,592
607
-9,969
717
-9,252
-12,978
3,448
70
-9,460
-10,378
4,084
129
-6,165
-2,502
-8,667
-11,847
2,791
153
-8,903
-3,140
-12,043
-18,549
3,875
507
-14,167
-2,429
-16,596
-155
-9,615
-983
390
2,326
4,780
7,496
-5,927
1,569
2,317
-3,319
755
-2,649
-4,237
817
63
598
1,245
1,842
-1,334
508
134
544
1,126
1,803
-1,294
509
57
604
1,391
2,052
-1,848
204
526
1,363
1,889
-1,470
419
719
1,468
2,187
-1,782
405
647
1,262
1,909
-1,729
180
64
65
66
67
68
69
SURVEY OF CURRENT BUSINESS
December
1993 Release Dates for BEA Estimates
Subject
State Personal Income, 3d quarter 1992
Gross Domestic Product, 4th quarter 1992 (advance)
Personal Income and Outlays, December 1992
Release
Date*
Jan. 26
Jan. 28
Jan. 29
Composite Indexes of Leading, Coincident, and Lagging
Feb. 2
Indicators, December 1992.
Gross Domestic Product, 4th quarter 1992 (preliminary) . Feb. 26
Merchandise Trade (balance of payments basis),
4th quarter 1992.
Personal Income and Outlays, January 1993
Composite Indexes of Leading, Coincident, and Lagging
Indicators, January 1993.
Summary of International Transactions, 4th quarter 1992
Gross Domestic Product, 4th quarter 1992 (final)
Corporate Profits, 4th quarter 1992 (preliminary)
Personal Income and Outlays, February 1993
Composite Indexes of Leading, Coincident, and Lagging
Indicators, February 1993.
State Personal Income, 4th quarter 1992 and Per Capita
Personal Income, 1992 (preliminary).
Gross Domestic Product, 1st quarter 1993 (advance) —
Corporate Profits, 4th quarter 1992 (revised)
Personal Income and Outlays, March 1993
Composite Indexes of Leading, Coincident, and Lagging
Indicators, March 1993.
Metropolitan Area Personal Income, 1991
Gross Domestic Product, 1st quarter 1993 (preliminary)
Corporate Profits, 1st quarter 1993 (preliminary)
Merchandise Trade (balance of payments basis),
1st quarter 1993.
Personal Income and Outlays, April 1993
Composite Indexes of Leading, Coincident, and Lagging
Indicators, April 1993.
Summary of International Transactions, 1st quarter 1993
Gross Domestic Product, 1st quarter 1993 (final)
Corporate Profits, 1st quarter 1993 (revised)
Mar.
1
Mar.
Mar.
1
2
Mar.
Mar.
Mar.
Mar.
Mar.
16
26
26
29
31
Apr. 27
Apr. 29
Apr. 29
Apr. 30
May
4
May
May
May
May
26
28
28
28
June
June
June 15
June 30
June 30
f These are target dates and are subject to revision.
The dates for June, July, and August are especially tentative because
BEA will move to a new location during that time period.
If the move necessitates changes in release dates,
BEA will provide as much notice as is possible.
Subject
Release
Date*
Personal Income and Outlays, May 1993
Composite Indexes of Leading, Coincident, and Lagging
Indicators, May 1993.
State Personal Income, 1st quarter 1993
Gross Domestic Product, 2d quarter 1993 (advance)
Personal Income and Outlays, June 1993
July
July
July
July
July
22
29
30
Composite Indexes of Leading, Coincident, and Lagging
Indicators, June 1993.
State Per Capita Personal Income, 1992 (revised)
Merchandise Trade (balance of payments basis),
2d quarter 1993.
Aug.
3
Aug. 24
Aug. 30
Sept.
Sept.
Sept.
Sept.
1
1
2
3
Sept.
Sept.
Sept.
Sept.
14
29
29
30
Composite Indexes of Leading, Coincident, and Lagging
Indicators, August 1993.
State Personal Income, 2d quarter 1993
Gross Domestic Product, 3d quarter 1993 (advance)
Personal Income and Outlays, September 1993
Oct.
1
Composite Indexes of Leading, Coincident, and Lagging
Indicators, September 1993.
Nov.
2
Gross Domestic Product, 3d quarter 1993 (preliminary) ..
Corporate Profits, 3d quarter 1993 (preliminary)
Merchandise Trade (balance of payments basis),
3d quarter 1993.
Personal Income and Outlays, October 1993
Composite Indexes of Leading, Coincident, and Lagging
Indicators, October 1993.
Summary of International Transactions, 3d quarter 1993
Gross Domestic Product, 3d quarter 1993 (final)
Corporate Profits, 3d quarter 1993 (revised)
Personal Income and Outlays, November 1993
Composite Indexes of Leading, Coincident, and Lagging
Indicators, November 1993.
Dec.
Dec.
Dec.
1
1
1
Dec.
Dec.
2
3
Dec.
Dec.
Dec.
Dec.
Dec.
14
22
22
23
29
Gross Domestic Product, 2d quarter 1993 (preliminary) ,
Corporate Profits, 2d quarter 1993 (preliminary)
Personal Income and Outlays, July 1993
Composite Indexes of Leading, Coincident, and Lagging
Indicators, July 1993.
Summary of International Transactions, 2d quarter 1993
Gross Domestic Product, 2d quarter 1993 (final)
Corporate Profits, 2d quarter 1993 (revised)
Personal Income and Outlays, August 1993
Oct. 21
Oct. 28
Oct. 29
For further information, call (202) 523-0777, or write to
Public Information Office (BE-SI), Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, DC 20230.
66
SURVEY OF CURRENT BUSINESS
SUBJECT
December 1992
GUIDE
VOLUME 72 (1992)
This guide lists articles and "Business Situation" sections by subject, giving the title, issue
number, and beginning page number.
Gross domestic product
General
Sir Richard Stone and the Development of National Economic
Accounts. 3:27.
User's Guide to BEA Information. 2:37.
1993 Release Dates for BEA Estimates. 11:55; 12:65.
National
Business Situation: Advance Estimates. Fourth Quarter and
Year 1991, 1:1; First Quarter 1992, 4:1; Second Quarter 1992,
7:1; Third Quarter 1992, 10:1.
Business Situation: Final Estimates. Fourth Quarter 1991, 3:1;
First Quarter 1992, 6:1; Second Quarter 1992, 9:1; Third
Quarter 1992, 12:1.
Business Situation: Preliminary Estimates. Fourth Quarter
1991, 2:1; First Quarter 1992, 5:1; Second Quarter 1992, 8:1;
Third Quarter 1992, 11:1.
Business cycle indicators
Composite Index of Coincident Indicators and Alternative
Coincident Indexes. 6:42.
Input-output
Annual Input-Output Accounts of the U.S. Economy, 1987.
Corporate profits
Preliminary Estimates. Fourth Quarter 1991, 3:2; First Quarter
1992, 5:7; Second Quarter 1992, 8:6; Third Quarter 1992,11:7.
And Property Income in 1991. 4:5.
Revised Estimates. First Quarter 1992, 6:2; Second Quarter
1992, 9:3; Third Quarter 1992, 12:2.
Fixed capital stock
Fixed Reproducible Tangible Wealth Series in the United
States. Revised Estimates, 1:106; 1988-91, 8:37.
Summary Fixed Reproducible Tangible Wealth Series. 192590, 1:136; 1925-91* 10:29.
Government transactions
Federal Budget Estimates, Fiscal Year 1993. 3:29.
Federal Personal Income Tax Liabilities and Payments:
Revised and Updated Estimates, 1959-91. 8:32
Government Sector. Fourth Quarter 1991, 3:2; First Quarter
1992, 5:8; Second Quarter 1992, 8:8; Third Quarter 1992,11:8.
Relationship Between Personal Income and Adjusted Gross
Income: New Estimates for 1989-90 and Revisions for 195988. 5:33.
State and Local Government Fiscal Position in 1991. 3:36.
Motor vehicles
Motor Vehicles, Model Year 1992. 10:31.
National income and product accounts
(NIPA'S)
Annual Revision of the U.S. National Income and Product
Accounts. Annually, 1989-91, and Quarterly, First Quarter
1989 to First Quarter 1992: 7:6. Newly Available Tables:
9:27.
Index to the NIPA Tables. 1:86; 7:117.
National Income and Product Accounts Tables. Selected NIPA
Tables: 1:5; 2:8; 3:5; 4:9; 5:10; 6:3; 8:10; 9:5; 10:8; 11:10; 12:4.
NIPA Tables: 1987-90, 1:23; 1988-91, 7:46, 9:27. Errata: 2:29;
4:30; 9:37.
Summary National Income and Product Accounts, 1991. 9:38.
Summary National Income and Product Series, Annual and
Quarterly Estimates. 1959-90, 2:30; Errata, 4:31; i959~9i>
9:40; 1929-91 and First Quarter 1929 to Third Quarter 1992,
12:26.
December 1992 •
SURVEY OF CURRENT BUSINESS
Pollution abatement and control
Pollution Abatement and Control Expenditures: Estimates for
1990 and Revised Estimates for 1972-89. 6:25.
Quantity and price indexes
Alternative Measures of Change in Real Output and Prices.
4:32.
Economic Theory and BEA'S Alternative Quantity and Price
Indexes. 4:49.
Reconciliation and other special tables
Reconciliation of BEA Compensation and BLS Earnings. 2:28;
5:31; 8:31; 11:31.
Reconciliation of NIPA Net Exports of Goods and Services and
Net Receipts of Factor Income with BPA Balance on Goods,
Services, and Income. 3:26; 6:24; 9:26; 12:25.
International
Balance of payments
Reconciliation of U.S.-Canadian Current Account. 11:32.
U.S. International Transactions. Fourth Quarter and Year
i99i> 3^51; First Quarter 1992, 6:60; Second Quarter 1992
9:56; Third Quarter 1992, 12:38.
International services
U.S. International Sales and Purchases of Private Services: U.S.
Cross-Border Transactions, 1986-91, and Sales by Affiliates,
1989-90. 9:82.
Investment position
International Investment Position of the United States in 1991.
6:46.
Reconciliation and other special tables
Reconciliation of NIPA Net Exports of Goods and Services and
Net Receipts of Factor Income with BPA Balance on Goods,
Services, and Income. 3:26; 6:24; 9:26; 12:25.
U.S. direct investment abroad
Capital Expenditures by Majority-Owned Foreign Affiliates of
U.S. Companies. Plans for 1992, 3:43; Latest Plans for 1992,
9:48.
Detail for Historical-Cost Position and Balance of Payments
Flows, 1991. 8:116.
Rates of Return on Direct Investment. 8:79.
U.S. Multinational Companies: Operations in 1990. 8:60.
Foreign direct investment in the United States
Detail for Historical-Cost Position and Balance of Payments
Flows, 1991. 8:87.
Establishment Data for 1987. 10:44.
Gross Product of U.S. Affiliates of Foreign Direct Investors,
1987-90. 11:47.
Rates of Return on Direct Investment. 8:79.
U.S. Affiliates of Foreign Companies. Operations in 1990, 5:45;
Errata, 9:133.
U.S. Business Enterprises Acquired or Established by Foreign
Direct Investors in 1991. 5:69.
6j
Regional
Personal income
Comprehensive Revision of State Personal Income. 8:44.
County and Metropolitan Area Personal Income, 1988-90.
4:81.
Personal Income by State and Region. Third Quarter 1991,
1:138; Fourth Quarter 1991 and Per Capita Personal Income
for 1991, 4:72; First Quarter 1992, 7:137; Second Quarter 1992,
10:38.
Detailed Data on U.S. Multinational Companies
ILS. DIRECT INVESTMENT ABROAD:
1989 Benchmark Survey, Final Results
This publication presents the final results from the latest benchmark survey, or census, of the worldwide operations of U.S.
multinational companies. Benchmark surveys are BEA's most comprehensive surveys, both in terms of companies covered and
information gathered.
The publication contains detailed 1989 data on the financial structure and overall operations of U.S. parent companies and their
foreign affiliates. In the 263 tables organized by industry of parent or by country and industry of affiliate, you can find data on:
• Balance sheets and income statements
9
Employment and employee compensation
U.S. DIRECT INVESTMENT ABROAD
TW9S« chmok Survey, Final Results
• Property, plant, and equipment
1
Merchandise trade
• Sales of goods and services
1
Research and development expenditures
This publication provides some of the most detailed information on U.S. multinational companies collected by the U.S.
Government. Order your copy today!
These data are also available on diskette; for more information call BEA at (202) 523-0655.
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C-l
SURVEY OF CURRENT BUSINESS
December 1992
BUSINESS
CYCLE
Footnotes for pages C-l through C-5
Charts
Historical data for selected series
C-6
C-7
C-25
INDICATORS
Business cycle expansions and contractions
Cyclical leads and lags for selected indicators
Titles and sources of series
C-45
C-46
C-47
NOTE TO USERS: The National Bureau of Economic Research, Inc., has identified March 1991 as a cyclical trough in U.S.
economic activity. Shading for the July 1990-March 1991 recession has been added to the charts in this section.
Series originating in Government agencies are not copyrighted and may be reprinted freely. Series from private sources
are provided through the courtesy of the compilers and are subject to their copyrights.
Current and historical data for the series shown in the C-pages are available on printouts, diskettes, and the Commerce
Department's Economic Bulletin Board. For more information, write to Business Cycle Indicators Branch, Business Outlook
Division (BE-52), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230.
NOTE.—This section of the SURVEY is prepared by the Business Cycle Indicators Branch.
Series
no.
Year
1991
1992
Series title and timing classification
1991
Dec.
Nov.
Oct.
Jan.
Mar.
Feb.
May
Apr.
| June
July
Sept.
Aug.
|
Oct. | Nov.*
1. COMPOSITE INDEXES
The Leading Index
910 •
•
1•
5*
8*
32 »
20*
29*
92*
99*
19*
106*
83 *
950
•
Composite index of leading indicators, 1982=100 (L.L.L) ....
Percent change from previous month
Percent change over 3-month span, AR
,
Leading index components:
Average weekly hours mfg (L L L)
Average weekly initial claims for unemployment
insurance, thous. (L,C,L) ' ±.
Mfrs.' new orders, consumer goods and materials,
bil.1982$(L,L,L).
Vendor performance, slower deliveries diffusion index,
percent (L,L,L).
Contracts and orders for plant and equipment, bil. 1982$
(L,L,L).
Index of new private housing units authorized by local
building permits, 1967=100 (L,L,L).
Change in mfrs.' unfilled orders, durable goods, bil.
1982$, smoothed (L,L,L)t.
Change in sensitive materials prices, percent, smoothed
(L,L,L)t.
Index of stock prices, 500 common stocks, 1941-43=10,
NSA (L.L.L).
Money supply M2, bil. 1982$ (L.L.L)
Index of consumer expectations, U. of Michigan,
1966:1=100, NSA (L.L.L)©2.
Diffusion index of 11 leading indicator components:
Percent rising over 1 -month span
Percent rising over 6-month span
143.4
.3
4.1
145.2
.1
-.8
144.9
-.2
-.8
144.7
-.1
3.1
146.3
1.1
6.8
147.3
.7
9.1
147.9
.4
5.6
148.3
.3
5.3
149.2
.6
2.5
148.8
-.3
M.9
'149.0
'148.5
'148.4
M
'-1.9
-.3
'-1.1
-.1
'.3
40.7
40.9
40.9
41.0
40.9
41.1
41.1
41.1
41.3
41.0
41.0
41.0
40.9
41.1
444
422
436
435
424
427
431
414
415
429
412
437
454
392
'41.3
372
1,048.27
90.62
89.73
85.92
88.10
89.08
88.61
90.19
89.75
90.78
'91.54
89.97
'90.42
'92.06
'93.94
50.3
50.6
49.5
48.0
48.7
49.5
47.4
49.9
50.6
52.3
50.7
51.9
37.01
42.94
42.98
45.21
44.43
44.30
46.45
'44.35
'44.73
'45.34
47.3
489.80
75.5
-1.31
41.91
'44.07
79.3
78.1
85.6
88.2
91.4
87.2
84.4
84.1
82.3
86.1
85.8
89.7
-1.15
-1.41
-1.73
-1.85
-2.22
-2.54
-2.63
-2.73
-2.75
-2.97
-3.17
-3.46
-.65
-.82
-.72
-.53
.17
.56
.81
.85
'.51
.30
376.18
386.88
385.92
388.51
416.08
412.56
407.36
407.41
414.81
408.27
415.05
417.93
418.48
2,409.5
2,400.2
2,401.4
2,402.1
'2,405.9
2,417.8
2,405.3
2,397.4
2,395.2
'2,382.5
'2,377.5
'2,377.5
2,380.0
-.39
-.21
'.73
149.1
'.5
'150.3
'.8
'4.9
48.9
'46.36
52.1
'45.47
90.8
'-3.15
89.8
'-3.04
-.05
412.50
-.49
422.84
'2,380.5 '2,380.9
70.3
70.5
61.9
61.5
59.1
61.8
70.3
70.5
71.2
70.7
67.6
69.5
67.4
67.5
78.2
50.8
61.7
45.5
36.4
36.4
63.6
50.0
72.7
63.6
59.1
72.7
68.2
40.9
68.2
45.5
63.6
45.5
54.5
36.4
54.5
50.0
59.1
36.4
54.5
68.2
'68.2
'68.2
124.5
-.3
124.6
0
123.7
-.7
123.3
-.3
122.8
-.4
-3.1
-2.9
-4.1
-5.7
-1.0
123.4
.5
.3
123.4
0
2.0
123.4
0
0
123.4
0
-.3
123.3
-.1
1.3
123.8
.4
-.6
108,142
3,388.7
108,200
3,386.0
108,377
3,377.6
108,496
3.380.7
108,423
3,377.3
108,594
'3,375.8
The Coincident Index
920*
•
41*
51 •
47*
57*
951
•
Composite index of coincident indicators, 1982=100 (C,C,C)
Percent change from previous month
Percent change over 3-month span AR
Coincident index components:
Employees on nonagricultural payrolls, thous. (C,C,C) ....
Personal income less transfer payments, bil. 1987$, AR
(C.C.C).
Index of industrial production, 1987=100 (C.C.C)
Manufacturing and trade sales, mil. 1982$ (C.C.C)
Diffusion index of 4 coincident indicator components:
Percent rising over 1 -month span
Percent rising over 6-month span
108,310
3.382.2
108,285
3,384.5
108,139
3,372.1
107.1
108.4
108.1
5,626,499 '475,803 ' 473,738
47.9
44.8
75.0
115.1
-.6
0
108,154
3,399.0
108,100
3,372.5
107.4
106.6
107.2
107.6
108.1
108.9
466,626
474,654
478,523
479,892
481,019
478,395
50.0
37.5
50.0
37.5
50.0
100.0
111.3
-.3
111.1
-.2
110.8
-.3
109.5
108.4
-7.6
-5.2
-2.8
-6.3
-1.2
-9.4
-1.0
-9.7
13.8
1.46
14.6
1.43
14.9
1.44
15.3
1.47
16.4
1.44
17.0
1.42
0
87.5
75.0
75.0
100.0
108.0
-.4
107.5
-.5
-7.1
-7.5
17.1
1.42
17.0
1.42
75.0
75.0
87.5
123.2
-.5
'-.6
'123.1
'-.1
-1.0
123.5
'.3
3
1.6
'87.5
100.0
123.7
3
.2
108,485 '108,497 '108,531 '108,636
'3,387.5 '3,382.4 '3,408.3 '3,411.0
'109.3
109.4
'108.8
108.5
'109.1
484,377 '489,764 '483,771 '488,030 '487,933
25.0
75.0
3
3
25.0
'109.7
'37.5
'75.0
3
100.0
'104.2
'104.3
4
105.7
100.0
The Lagging Index
930*
4
91*
77*
62*
109*
101*
95*
120*
952
4
940*
Composite index of lagging indicators, 1982=100 (Lg.Lg.Lg)
Percent change over 3-month span, AR
Lagging index components:
Average duration of unemployment, weeks (Lg.Lg.Lg) $ .
Ratio, mfg. and trade inventories to sales in 1982$
(Lg,Lg,Lg).
Change in labor cost per unit of output, mfg., percent,
AR, smoothed (Lg.Lg.Lg) tAverage prime rate charged by banks, percent, NSA
(Lg.Lg.Lg).
Commercial and industrial loans outstanding, mil. 1982$
(Lg,Lg,Lg).
Ratio, consumer installment credit outstanding to
personal income, percent (Lg.Lg.Lg).
Change in Consumer Price Index for services, percent,
AR, smoothed (Lg.Lg.Lg) t.
Diffusion index of 7 lagging indicator components:
Percent rising over 1 -month span
Percent rising over 6-month span
Ratio, coincident index to lagging index, 1982=100 (L,L,L) .
3.1
8.46
-.9
8.00
-.5
7.58
1.6
7.21
1.1
6.50
.3
6.50
-.4
6.50
'105.4
104.8
-1.1
-9.3
'-.8
-9.7
'-.6
-5.2
104.9
.1
'-4.5
18.3
1.42
18.6
1.41
18.3
1.40
18.2
1.42
18.3
1.40
-1.1
'-1.4
'-1.9
'-1.9
-1.2
6.50
6.50
6.02
6.00
6.00
'-.7
'-1.9
4
19.4
'.2
366,724
368,222
368,053
366,095
361,479
15.13
14.91
14.89
14.72
14.74
14.60
14.52
14.43
14.36
14.35
14.30
'14.25
'14.21
'14.06
4.6
4.0
4.1
4.3
4.3
4.1
4.2
4.2
3.9
3.6
3.4
3.2
2.9
3.3
7.1
0
4
42.9
60.0
21.4
'14.3
'117.0
118.1
117.4
'118.1
42.9
28.6
35.7
28.6
108.3
111.9
111.3
111.3
112.1
21.4
35.7
0
113.8
0
114.3
35.7
0
114.8
14.3
7.1
116.1
f-.5
6.00
354,601 '356,534 '356,640 '353,166 '359,773 '366,857
369,110
42.9
28.6
18.2
6.00
372.429
35.7
42.9
1.3
"1.40
373,050
29.2
15.5
4
'.1
3.1
385,475
NOTE-The following current high values were reached before October 1991: May 1991-BCI-106 (2,422.2); July
1991-BCI-920 (125.0); and August 1991-BCI-92 smoothed (-0.96).
See page C-6 for other footnotes.
1.7
6.50
106.3
r
28.6
'57.1
'118.4
3.8
4
70.0
'117.0
SURVEY OF CURRENT BUSINESS
C-2 • December 1992
441
442
451
452
453
1*
21 4
54
464
60
484
42
41 4
963
404
904
37
434
45
914
44
Labor force:
Civilian labor force, thous
Civilian employment, thous
Civilian Jabor force participation rates (percent):
Males 20 years and over
Females 20 years and over
Both sexes 16-19 years of age
Marginal employment adjustments:
Average weekly hours mfg (L L L)
Average weekly overtime hours, mfg. (L,C L)
Average weekly initial claims for unemployment
insurance, thous. (L,C,L) ' ±.
Job vacancies:
Index of help-wanted advertising, 1967=100 (L,Lg,U)
Ratio, help-wanted advertising to unemployed (L,Lg,U) ...
Employment:
Employee hours in nonagricultural establishments,
bil. hours, AR (U.C.C).
Persons engaged in nonagricultural activities, thous.
(U,C,C).
Employees on nonagricultural payrolls, thous. (C,C,C) ....
Diffusion index of employees on private nonagricultural
payrolls, 356 industries:
Percent rising over 1-month span
,
Percent rising over 6-month span
Employees in goods-producing industries, thous. (L,C,U)
Ratio, civilian employment to population of working age,
percent (U.Lg.U).
Unemployment:
Number of persons unemployed, thous. (L,Lg,U) $
Civilian unemployment rate, percent (L.Lg.U) $
Average weekly insured unemployment rate, percent
(L,Lg,U)2$.
Average duration of unemployment, weeks (Lg.Lg.Lg) $ .
Unemployment rate, 15 weeks and over, percent
125303
116,877
125,508
116,867
77.3
57.9
51.7
578
407
3.6
444
409
3.7
422
94
.330
77.2
51.7
90
.310
125 374
116,772
77.1
57.7
51.4
40.9
3.7
436
'90
'.311
125,619
116,728
126,046
117,117
126287
117,043
77.0
77.0
77.1
579
582
582
51.1
51.6
52.1
41 0
3.7
435
409
3.6
424
41 1
3.7
427
90
.301
85
.283
126590
117,348
127160
117,656
127 549
117,574
111
127532
117,772
127437
117,737
127273
117,701
126959
117,625
127238
118.045
77.3
58.5
50.5
77.5
58.5
49.9
77.9
58.3
51.2
77.5
58.8
50.9
77.1
581
583
51.1
77.3
58.2
52.9
77.3
58.6
51.8
50.5
51.7
41.1
41.1
41.3
41.0
41.0
41.0
40.9
41.1
38
431
3.9
414
415
38
429
38
412
37
437
35
454
38
392
'41.3
'39
372
89
.286
126830
117,675
93
.299
90
.292
4:1
93
.291
92
.274
91
.277
77.5
585
93
.285
90
.280
92
.293
'94
'.304
199.67
199.68
199.74
200.14
199.45
201.05
200.64
200.12
201.07
200.10
199.92
200.86
'199.30
'200.14
'201.68
113,644
113,663
113,500
113,545
113,951
113,811
114,155
114,465
114,478
114,322
114,568
114,519
114,459
114,465
114,834
108,310
108,285
108,139
108,154
108,100
108,142
108,200
108,377
108,496
108,423
108,594
108,485 '108,497 '108,531 '108,636
45.2
49.6
''41 4
45.0
39.6
23,830
47.1
46.1
23,704
46.8
44.0
23,613
46.9
43.4
23,584
43.5
47.8
23,527
47.9
50.6
23,525
47.5
49.7
23,532
58.4
51.1
23,530
51.4
473
23,548
'49.3
23,470
23,459
42.6
'42.1
23,362
'49.9
''48.6
'53.4
'23,296
'23,257
'23,281
61.6
61.4
61.3
61.2
61.4
61.3
61.4
61.6
61.5
61.4
61.5
61.4
61.3
61.2
61.4
8,426
6.7
3.1
8,641
6.9
3.1
8,602
6.9
3.1
8,891
7.1
3.1
8,929
7.1
3.2
9,244
7.3
3.1
9,242
7.3
3.1
9,155
7.2
3.2
9,504
7.5
3.1
9,975
7.8
3.1
9,760
7.7
3.2
9,700
7.6
3.0
9,572
7.5
3.0
9,334
7.4
2.9
9,193
7.2
2.8
13.8
14.6
14.9
15.3
16.4
17.0
17.1
17.0
18.3
18.6
18.3
18.2
18.3
19.4
18.2
1.9
2.0
2.1
e
2.4
2.5
2.5
2.4
2.6
2.9
2.8
2.8
2.7
2.8
2.6
3. OUTPUT, PRODUCTION, AND CAPACITY UTILIZATION
55*
50
49
47*
734
74*
75*
124
82*
Output:
Gross domestic product, fail. 1987$ AR (C,C,C)
Percent change from previous quarter, AR
Gross national product, bil. 1987$, AR (C,C,C)
Value of domestic goods output, bil. 1987$, AR (C.C.C)
Industrial production indexes, 1987=100:
Total (C,C,C)
Durable manufactures (C C C)
Nondurable manufactures (C L L)
Consumer goods (C,L C)
Capacity utilization rates (percent):
total industry (L C U) . ..
Manufacturing (L,C,U)
4,821.0
4,838.5
.6
4,848.2
1,915.7
-1.2
4,836.4
1,911.2
48737
2.9
4,890.7
1,924.0
'4,933.7
48924
15
'3.4
48991
1,936.7
'4,945.6
'1,966.2
108.4
1082
1101
109.7
108.1
1078
1096
1100
1074
1071
1095
1091
1066
1058
1095
1081
1072
1070
1096
1088
1076
1070
1104
1093
1081
1076
1107
1101
1089
1091
1109
1108
1085
1085
111 0
1096
1094
1090
111 7
1104
'1091
'1092
'111 3
'1108
'1088
'1082
'111 6
1103
'1093
'1092
'111 6
'111 0
'109.7
794
798
793
78.2
78.7
78.2
787
111
780
770
783
774
784
775
787
111
791
782
786
778
791
781
'788
'779
'785
'774
'787
'777
'789"
'779
107.1
1071
107.9
107.5
'1097
'1122
'111.3
4. SALES, ORDERS, AND DELIVERIES
57*
59*
7*
8*
92*
32*
Sales:
Manufacturing and trade sales, mil. 1982$ (C,C,C)
Sales of retail stores, mil 1982$ (U L,U)
Orders and deliveries:
Mfrs.' new orders, durable goods, bil. 1982$ (L.L.L)
Mfrs.' new orders, consumer goods and materials,
bil. 1982$ (L.L.L).
Mfrs.' unfilled orders, durable goods, mil. 1982$0
Change from previous month bil 1982$
Change from previous month, bil. 1982$, smoothed
(L,L,L)t.
Vendor performance, slower deliveries diffusion index,
percent (L.L.L).
5,626,499 '475,803 '473,738
1,456,797 '121,817 '120,954
1,145.58
1,048.27
466,626
121,289
474,654
124 356
478,523
125395
479,892
123 531
481,019
123932
478,395
124305
484,377 '489,764 '483,771 '488,030 '487,933
124 205 125514 '125486 '126301 '128545 ' 128 852
96.04
89.97
'100.71
'92.06
97.83
90.62
97.76
89.73
92.39
85.92
95.63
88.10
95.19
89.08
96.92
88.61
98.62
90.19
96.46
89.75
99.09
90.78
96.43
'91.54
392,358 397,414
-1 59
-207
-1.31
-1.15
395,078
392,358
391 162
387,088
384088
382 275
379 305
376 850
372 579
-234
-272
-120
-407
-300
-181
-297
-246
-427
-1.41
-1.73
-1.85
-2.22
-2.54
-2.63
-2.73
-2.75
-2.97
50.6
49.5
48.0
48.7
49.5
47.4
49.9
50.6
52.3
50.7
51.9
116.8
116.9
118.6
'119.9
47.3
50.3
'96.38
'90.42
'98.63
'93.94
369 071 '364,610 '364735 '361,021
-351
12 '-371
'-446
-3.17
'-3.15 '-3.04
-3.46
48.9
52.1
5. FIXED CAPITAL INVESTMENT
124
134
10
204
274
94
11
97
61
1004
Formation of business enterprises:
Index of net business formation, 1967=100 (L.L.L)
Number of new business incorporations (L L L)
Business investment commitments:
Contracts and orders for plant and equipment, bil.$
(L,L,L).
Contracts and orders for plant and equipment, bil. 1982$
(L,L,L).
Mfrs.' new orders, nondefense capital goods, bil. 1982$
(L.L.L).
Construction contracts awarded for commercial
and
industrial buildings, mil. sq. ft.(L,C,U) © 3.
New capital appropriations mfg bil $ (U Lg U)
Backlog of capital appropriations mfg bil $ (C Lg Lg) 0
Business investment expenditures:
New plant and equipment expenditures by business
bil.$, AR (C,Lg,Lg).
New plant and equipment expenditures by business
bil. 1987$, AR(C,Lg,Lg).
115.3
629 901
115.3
53892
115.9
54165
115.1
52898
116.9
57469
115.7
55065
115.7
57403
115.0
54462
406.17
33.53
'36.31
29.81
33.83
33.94
35.72
34.86
33.41
34.48
32.88
32.11
'33.83
'35.63
'31.69
489.80
41.91
'44.07
37.01
42.94
42.98
45.21
44.43
44.30
46.45
'44.35
'44.73
'45.34
'46.36
'45.47
452.63
38.70
41.50
34.75
39.97
39.42
42.39
40.51
41.98
43.67
'41.54
'41.63
'42.80
'4326
'43.03
532.30
52.08
39.50
39.94
39.37
46.93
41.43
41.60
35.27
43.73
40.13
42.92
36.48
47.91
42.03
12987
117.0
'58,718
'3190
'95.51
9551
528 39
52987
53572
54091
'547.53
'"565.40
48858
49336
50020
50599
'51702
'"536.53
NOTE.-The following current high values were reached before October 1991: July 1991-BCI-7 (103.63), BCI10 (38.98), BCI-92 change (5.66), and BCI-124 (80.0); August 1991-BCI-92 smoothed (-0.96); September 1991-
112.9
48673
BCI-82 (78.8); and 3d Q 1991-BCI-11 (33.83).
See page C-6 for other footnotes.
SURVEY OF CURRENT BUSINESS
Series
no.
Series title and timing classification
Year
December 1992 •
1991
1991
Oct. |
Nov.
C-3
1992
Dec.
Jan.
Mar.
Feb.
Apr.
|
May | June
|
July
| Aug.
Oct.
Sept.
| Nov.*
5. FIXED CAPITAL INVESTMENT-Continued
69*
76*
86 •
87 •
88 •
28 •
29*
89 •
Business investment expenditures—Continued:
Mfrs.' machinery and equipment sales and business
construction expenditures, bil.$, AR (C,Lg,l_g).
Index of industrial production, business equipment,
1987=100 (C.Lg.U).
Gross private nonresidential fixed investment, bil. 1987$,
AR:
Total (C Lg C)
Structures (Lg Lg Lg)
Producers' durable equipment (C,Lg,C)
Residential construction and investment:
New private housing units started, thous., AR (L.L.L)
Index of new private housing units authorized by local
building permits, 1967=100 (L,L,L).
Gross private residential fixed investment bil 1987$ AR
(L.L.L).
437.36
121.5
443.53
122.3
5002
44289
121.8
41637
121.4
42447
119.9
43440
121.0.
44923
121.5
43280
123.0
42789
124.5
4921
1484
4958
1576
1494
5147
1491
342.6
3437
3464
365.6
45756
124.1
44252
124.4
r
428 98
r
125.9
125.3
126.7
"127.4
r
1,222
'1,224
'1,242
51 8.7
1447
374.0
r
1,085
1,085
1,118
1,180
1,257
1,340
1,086
1,196
1,147
1,100
1,233
79.3
78.1
85.6
88.2
91.4
87.2
84.4
84.1
82.3
86.1
85.8
89.7
90.8
89.8
r
191.3
1912
1856
P 438 31
r
r
75.5
1773
442 61
r
1,014
1702
r
6. INVENTORIES AND INVENTORY INVESTMENT
70
77*
30*
314
Inventories on hand:
Mfg. and trade inventories, bil. 1982$ (Lg,Lg,Lg)0
Ratio, mfg. and trade inventories to sales in 1982$
(Lg,Lg,Lg).
Inventory investment:
Change in business inventories bil 1987$ AR (LLL)
Change in mfg. and trade inventories, bil.$, AR (LJLJL) ".'.
684.64
1.46
682.42
684.64
681.68
1.44
1.47
1.44
'23.1
75
'14.0
32.1
-48.4
-93
-7.8
682.87
1.43
681.64
1.42
681.70
682.35
1.42
1.42
19.1
29.1
120.31
683.23
685.64
1.41
1.40
-7.2
46.1
42.0
'687.11
1.42
'685.28
1.40 *
" 682.91
'1.40
r
15.0
78
-126
5.5
680.67
1.42
19.2
'-18.2
'-31.1
120.39
118.70
-1.40
7. PRICES
99*
98
23*
336
337 ^
Finished consumer goods 1982=100
Percent change over 1 -month span
334
333
332
331
Sensitive commodity prices:
Index of sensitive materials prices 1982=100
Percent change from previous month
Percent change from previous month, smoothed
(L,L,L)t.
Index of producer prices for sensitive crude and
intermediate materials, 1982=100 (L,L,L).
Cattle hides
Lumber and wood products
Wastepaper, news ..
Wastepaper, mixed, NSA
Wastepaper, corrugated
Iron and steel scrap
Copper base scrap .
Aluminum base scrap
Other nonferrous scrap, n.e.c., NSA
Sand, gravel, and crushed stone
Raw cotton
Domestic apparel wool
Index of spot market prices, raw industrial materials,
1967=100, NSA (U.L.L)©1.
Copper scrap, $ per Ib. ©
Lead scrap, $ per Ib. ©
Steel scrap, $ per ton©
Tin, $ per Ib., NSA©
Zinc, $ per Ib., NSA©
Burlap, $ per yd., NSA©
Cotton, $ per Ib. © .
Print cloth, $ per yd., NSA©
Wool tops, $ per Ib., NSA©
Hides, $ per Ib., NSA©
Rosin, $ perl 00 Ib.©
Rubber, $ per Ib.©
Tallow, $ per Ib. © .
Producer Price Indexes:
Finished goods, 1982=100
Percent change over 1 -month span
Percent chancie over 6-month span AR
Finished goods less foods and energy, 1982=100
Percent change over 1 -month span
^
311
^
320
323
120*
Capital equipment 1982=100
Percent change over 1 -month span
Percent chancie over 6-month span AR
Intermediate materials, supplies, and components,
1982=100.
Percent change over 1 -month span
Percent chancie over 6-month span AR
Crude materials for further processing! 1982=100
Percent change over 1 -month span
Percent chancie over 6-month span AR
Fixed-weiqhted price index oross domestic business
product, 1987=100.
Percent change from previous quarter AR
Consumer Price Indexes for all urban consumers:
All items 1982-84=100 NSA
Percent change over 1-month span
Percent chanqe over 6-month span AR
All items less food and energy 1982-84=100
Percent change over 1 -month span
Percent chancie over 6-month span AR
Services 1982-84=100
Percent change from previous month AR
Percent change from previous month, AR, smoothed
(Lg,Lg,Lg)t.
See footnotes on page C-6.
119.49
115.94
-.50
-.65
-.59
-.82
136.19
173.4
132.1
101.7
64.1
165.2
147.6
170.0
143.0
135.8
128.7
116.0
.56
121.26
.79
.81
121.24
.17
139.83
141.97
141.97
142.03
141.60
168.7
138.8
172.5
143.9
166.3
146.3
161.0
146.3
168.9
146.1
170.2
145.3
89.7
53.2
89.2
52.5
83.4
51.7
83.1
55.6
85.6
56.3
89.3
56.5
155.1
138.2
155.7
123.7
122.6
129.7
150.1
138.4
162.5
134.9
127.8
129.3
149.6
143.6
161.4
138.6
133.6
130.2
150.9
141.9
159.1
145.9
136.8
130.1
152.2
139.9
161.9
146.2
135.8
130.0
150.0
139.5
169.5
141.6
134.2
130.2
116.14
116.20
.22
116.48
.24
-.72
-.53
-.29
-.39
134.66
134.82
135.84
136.08
157.1
133.7
163.7
134.3
163.7
136.4
91.6
53.7
94.1
52.9
91.2
52.8
146.1
147.0
164.9
128.5
127.5
129.4
151.8
146.4
163.9
125.6
126.3
129.6
154.2
143.9
165.8
125.4
124.0
129.8
116.54
.34
-.21
118.64
1.80
1.41
-.02
.85
'120.95
'-.24
120.51
'-.36
-.10
'.51
.30
'141.26
140.77
164.9
'143.4
'90.9
'52.1
'148.1
'141.1
'175.3
'144.7
'136.7
'130.9
169.8
144.2
'.73
92.8
51.1
135.3
134.6
176.7
145.1
139.7
130.8
116.55
-1.81
-.05
-.49
142.88
142.34
142.89
179.0
148.3
100.1
179.4
149.1
177.0
150.3
51.5
98.0
55.8
99.0
53.5
134.7
136.4
165.4
133.9
134.2
131.0
136.2
134.1
157.2
134.9
128.5
131.3
143.3
135.0
153.4
131.2
123.6
131.3
68.6
99.9
67.0
94.8
66.0
95.7
66.9
91.9
72.5
87.4
78.3
84.8
88.4
85.6
87.1
88.2
90.8
89.5
85.0
97.0
85.4
92.7
84.8
95.4
84.7
85.2
80.1
87.0
70.4
283.0
271.7
271.0
269.2
265.6
262.8
268.0
278.1
281.5
284.2
285.7
283.1
284.7
277.7
267.7
.848
.156
96.257
3.417
.601
.282
.698
.834
4.172
.847
.817
.138
97.097
3.585
.505
.272
.591
.880
3.670
.752
.808
.137
96.907
3.555
.546
.271
.563
.880
3.738
.755
.784
.141
98.319
3.545
.593
.271
.567
.816
3.980
.710
.825
.149
90.326
3.677
.573
.271
.552
.782
3.888 >
.706
59.172
.854
.161
89.321
3.769
.562
.271
.529
.730
3.775
.678
122.8
.3
25
134.1
.4
'20
121.1
.2
28
129.1
.2
'1 4
114.0
123.1
.2
21
134.5
.3
17
121.6
.4
23
129.2
.1
16
114.5
123.4
.2
25
134.2
-.2
15
122.0
.3
28
129.1
-.1
g
115.3
123.4
0
20
'134.4
M
4
121.9
-.1
27
'129.2
'.1
2
'115.3
123.5
.1
10
134.3
-.1
123.9
.3
124.0
.1
123.7
-.2
134.6
.2
134.4
-.1
134.5
.1
122.0
.1
12
129.4
'.2
2
115.2
122.5
.4
122.7
.2
122.3
-.3
129.4
0
129.2
-.2
129.3
.1
115.4
115.3
115.1
.4
9
.1
25
.2
'37
.4
27
100.0
1.7
41
.7
28
101.7
1.7
112
'0
23
'101.5
'-.1
.2
-.1
-.2
102.6
1.6
102.5
-.1
102.3
-.2
141.3
~~2 .
141.8
^
44£0
.2
148.3
.2
149.0
.5
149.4
.3
152.8
1.6
2.9
153.7
7.3
3.3
154.3
4.8
3.8
99.0
1.7
-8
97.3
-1.7
70
98.3
1.0
'88
138.6
'—3
29
145.7
.4
38
150.0
2.4
4.1
'-.2
8.7
2.8
139.3
—5
31
146.4
.5
38
150.7
5.7
4.2
139.5
"-2
32
146.8
.3
36
151.2
4.1
4.2
1317
32
147.1
.2
32
151.4
1.6
3.9
o
1.1
101.0
'-.5
4.7
'121.0
1203
2.8
t3&l
M
34
145.1
.3
41
149.7
4.1
4.3
.795
122.4
.2
21
133.6
.3
27
120.8
.2
22
128.8
.3
22
113.8
59.113
1194
137.9
—2
34
144.7
.2
39
149.2
5.0
4.3
3.625
122.2
.2
15
133.2
.1
35
120.6
.3
12
128.4
.1
27
113.7
-.6
31
144.4
.3
38
148.6
4.1
4.1
.815
.494
.160
-.1
-9
137.8
~j
3.750
.490
.153
0
_7
100.4
-1
_2
137.4
~-2
31
143.9
.2
38
148.1
4.1
4.0
.764
.467
.155
-.3
-1 1
100.5
21
-40
JL3&2
'.2
30
142.1
4
42
146.3
4.6
4.6
3.840
.466
.164
-2
-23
101.2
-1 0
21
.730
.459
.144
121.9
-.2
11
133.1
.5
32
120.2
-.4
5
128.3
.5
28
113.2
38
4.000
.465
.133
122.1
-.1
10
132.4
.2
29
120.7
-2
7
1186
.765
.465
.139
122.2
.1
12
132.2
.2
29
120.9
1
7
127.5
.2
24
114.0
1175
4.000
.520
.245
.525
.675
.456
.134
122.1
.2
12
132.0
2
31
120.8
3
7
127.3
.2
24
114.0
1.0
-43
.764
.573
.245
.508
.690
.793
.150
92.262
3.802
.434
.124
121.7
0
1
131.1
.3
29
120.5
-1
5
126.7
.2
23
114.4
-21
-22
4.000
.673
.249
.539
.696
.841
.179
89.930
3.952
60.423
.429
.120
-108
.800
.663
.252
.563
.700
.895
.168
87.280
4.344
60.729
.435
.122
o
4.000
.635
.258
.578
.744
.986
.153
86.022
4.409
60.729
.460
.126
97.3
.768
.156
60.914
.469
.132
98.3
4.000
.673
.266
.538
.782
1.017
88.589
4.503
60.729
.457
.136
.2
27
113.9
.696
.665
.269
.520
.782
.911
.168
91.065
4.352
60.181
.457
.130
1277
4.040
.640
.271
.534
.787
.873
.175
91.241
4.032
59.821
59.880
58.997
.601
.271
.529
.758
.825
.177
91.185
3.870
59.406
58.997
60.914
60.226
.827
.168
89.510
3.756
'2.3
140.2
-3
26
147.4
.2
26
151.8
3.2
3.6
140.5
s!o
147.7
.2
3.0
152.2
3.2
3.4
140.9
"—3
3.2
148.0
.2
3.2
152.6
3.2
3.2 !
SURVEY OF CURRENT BUSINESS
C-4 • December 1992
Series
no.
1991
Year
1992
Series title and timing classification
1991
Oct.
Nov.
Dec.
| Feb.
Jan.
| Mar. | Apr. | May
June
|
July
|
Aug.
Sept. |
Nov.*
Oct.
8. PROFITS AND CASH FLOW
16*
18*
224
81*
26*
35
Profits and profit margins:
Corporate profits after tax bil $ AR (L L L)
Corporate profits after tax, bil. 1987$, AR (L,L,L)
Ratio, corporate domestic profits after tax to corporate
domestic income, percent (L,L,L).
Ratio, corporate domestic profits after tax with IVA and
CCAdj to corporate domestic income, percent (U,L,L).
Ratio, implicit price deflator to unit labor cost all
persons, nonfarm business sector, 1 982=1 00(L,L,l).
Corporate net cash flow, bil. 1987$, AR (L.L.L)
2074
177.5
54
2107
181.5
55
59
2297
197.9
60
60
r
2327
199.3
63
66
2222
"1892
58
67
65
1024
1027
1033
1037
1035
418.2
427.0
4592
4635
'466.2
9. WAGES, LABOR COSTS, AND PRODUCTIVITY
Wages and compensation:
345
Index of average hourly compensation all employees,
nonfarm business sector, 1982=100.
Percent change from previous quarter AR
346
Index of real average hourly compensation, all
employees, nonfarm business sector, 1982=100.
Percent change from previous quarter AR
53*
Wages and salaries in mining, mfg., and construction,
bil. 1987$, AR(C,C,C).
Unit labor costs:
63
Index of unit labor cost, all persons, business sector,
1982=100 (Lg,Lg,Lg).
Index of labor cost per unit of output, mfg., 1987=100 ...
Percent change from previous month, AR
62*
Percent change from previous month, AR, smoothed
(Lg,Lg,Lg)t.
Productivity:
370
Index of output per hour all persons business sector
1982=100.
Percent change over 1 -quarter span, AR
•
+
Percent change over 4-quarter span AR
Index of output per hour all persons nonfarm business
358
sector, 1982=100.
1450
1471
51
102.7
32
103.0
8
606.8
607.9
133.1
107.0
1.2
3.1
-3
599.5
1032
8
595.8
595.1
133.8
106.9
108.0
107.4
107.1
11.9
-3.3
13.1
-6.5
-3.3
-.5
1.7
1.6
1.1
111 2
1101
1087
594.9
595.2
-9
597.5
106.9
-22
.3
106.8
-1 1
-.4
106.5
-33
-1.1
'592.4
1507
r
36
1032
MO
'591.6
'588.0
'591.7
'588.6
' 106.2
r
106.5
'34
-1.2
107.0
5.8
'.2
'106.0
'-10.7
'-1.9
r
r
106.5
r
'106.2
-1.4
'-1.9
r
o
r
-33
o
'-.5
r
1.0
3.4
r
111 1
1106
134.3
M135
1125
3.9
r
29
1096
593.5
134.1
1123
3.3
25
.3
18
r
1030
133.8
107.2
-.9
25
37
603.1
r
1494
1485
1119
10. PERSONAL INCOME AND CONSUMER ATTITUDES
52
51*
58
83*
122
123*
Personal income:
Personal income bil. 1987$ AR (C C,C)
Personal income less transfer payments, bil. 1987$, AR
(C.C.C).
Indexes of consumer attitudes:
Consumer sentiment,
U. of Michigan, 1966:1=100, NSA
(L.L.L)©1.
Consumer expectations, U. of Michigan, 1966:1=100,
NSAfUU)©1.
Consumer confidence, The Conference Board, 1985=100
Consumer expectations, The Conference Board,
1985=100 (L.L.L).
4,024.8
3,382.2
4,040.7
3,384.5
4,025.9
3,372.1
4 066.5
3,399.0
4,058.5
3,372.5
4,079.1
3,388.7
4,076.2
3,386.0
4,070.9
3,377.6
4,078.4
3,380.7
4,076.5
3,377.3
'4,078.1 '4,094.3 '4,090.9 '4,121.3 '4,119.9
'3,375.8 '3,387.5 '3,382.4 '3,408.3 '3,411.0
77.6
78.3
69.1
68.2
67.5
68.8
76.0
77.2
79.2
80.4
76.6
76.1
75.6
73.3
85.3
70.3
70.5
61.9
61.5
59.1
61.8
70.3
70.5
71.2
70.7
67.6
69.5
67.4
67.5
78.2
68.5
60.1
52.7
52.5
50.2
47.3
56.5
65.1
71.9
72.6
61.2
59.0
57.3
54.6
65.6
85.8
79.5
69.7
72.6
68.7
63.5
76.7
89.7
96.9
95.9
80.1
78.3
74.2
70.7
85.7
1.88
'.43
'1.17
11. SAVING
290
295
292
298*
293*
Gross saving bil $ AR
Business saving bil $ AR
Personal saving bil $ AR
Government surplus or deficit bil $ AR
Personal saving rate percent
6982
7082
701 9
219.4
-2366
5.1
-1933
47
6829
7359
232.3
-2852
5.3
6775
7354
7154
1996
2146
-272 6
49
'696.9
'7889
'203.3
'-2952
'4.6
12. MONEY, CREDIT, INTEREST RATES, AND STOCK PRICES
854
102*
105
106*
107
108
93
94
112*
113*
111
110*
14
39
Money:
Percent change in money supply M1 (L.L.L)
Percent change in money supply M2 (L,C,U)
Money supply M1, bil. 1982$ (L.L.L)
Money supply M2 bil 1982$ (ILL)
Velocity of money:
Ratio, gross domestic product to money suppy M1
(C.C.C).
Ratio, personal income to money supply M2 (C,Lg,C) ....
Bank reserves:
Free reserves mil $ NSA (L U U) \
Member bank borrowings from the Federal Reserve,
mil.$, NSA (L,Lg,U).
Credit flows:
Net change in business loans, bil.$, AR (L,L,L)
Net change in consumer installment credit, bil.$, AR
(L.L.L).
Percent change in business and consumer credit
outstanding, AR (L.L.L).
Funds raised by private nonfinancial borrowers in credit
markets, mil.$, AR (L,L,L).
Credit difficulties:
Current liabilities of business failures, mil.$, NSA
(L,L,L)t.
Percent of consumer installment loans delinquent 30
days and over (L,L,L)2Ot
.70
.25
609.2
2,409.5
1.02
.18
618.6
2,400.2
1.19
.40
623.8
2,401.4
.75
.24
627.2
2,402.1
635.3
'2,405.9
6.464
6601
2.26
.78
647.9
2,417.8
.40
.86
.04
649.8
2,405.3
651.1
2,397.4
-.12
6.301
1.22
.04
658.1
2,395.2
'-.26
654.5
'2,382.5
.92
'-.07
659.7
'2,377.5
-.27
1.31
'28
666.5
'2,377.5
1.59
'.31
675.7
2,380.0
1.430
1.424
1.438
1.434
1.436
1.441
1.445
1.449
1.454
1.458
'1.457
1.459
882
373
834
261
785
108
788
192
771
233
990
77
939
91
1,049
90
845
155
684
229
681
284
684
251
707
287
-39.46
-7.54
-7.63
21.31
-8.68
-15.18
-68.50
-1.93
-46.39
38.45
-2.68
-18.49
-43.00
-25.38
-10.72
-62.69
-11.88
-.12
23.10
-13.19
'-11.34
-13.87
'-40.56
'17.28
-57
-1 5
-54
-41
.6
-72
-60
-7.0
-3.1
-3.2
'126896
188554
2.58
262
2.06
'308,460
97,471.1 '8,628.3 '5,260.2 '6,659.9
258
9.83
258
-38
'-36
'1.470
'1.468
'931
'939
'104
143
'106.36
'2.57
"-7
'216612
'239116
'8,445.7 '6,839.3 '6,325.7 '7,881.2 '12,020.3 '13,932.0 '3,574.6 '9,031.7 '3,215.7 '7,876.4
294
2.84
2.86
2.67
94 (764).
See page C-6 for other footnotes.
2.77
'.29
'691.8
685.6
'2,380.5 '2,380.9
'6.137
6.215
1.419
N0TE.-The following current high values were reached before October 1991: May 1991-BCM06 (2,422.2); June
1991-BCI-14 (3,064.3) and' BCI1991-BCM22 (78.0) and BCI-123 (100.9); July 1991-BCI-93 (345);r, iand' August
'
"~
1.37
'.23
2.60
2.55
2.60
2.46
'87.18
SURVEY OF CURRENT BUSINESS
Series
no.
Series title and timing classification
Year
1991
December 1992 •
1991
Oct.
Nov.
C-5
1992
I Dec.
Jan.
| Feb.
Mar.
| Apr.
May
| June
July
Aug.
Sept. | Oct. | Nov.*
720,664 "722,104 ' 722,31 7
12. MONEY, CREDIT, INTEREST RATES, AND STOCK PRICES-Continued
Outstanding debt:
66
Consumer installment credit outstanding, mil.$
(Lg,Lg,Lg) 0.
72
Commercial and industrial loans outstanding, mil.$,
(Lg.Lg.Lg).
1014
Commercial and industrial loans outstanding, mil. 1982$
(Lg,Lg,Lg).
954
Ratio, consumer installment credit outstanding to
personal income, percent (Lg,Lg,Lg).
Interest rates (percent, NSA):
1194
Federal funds rate (L Lg Lg)
11,4, Ju ^BiscQjjnLtatiJ>rj ne.w91-day Treasury bills (C.Lg.Lg)
1164
Yield on new high^f^rc^r|Jo^rbOTdr(l^t^t|) ..:::.
1154
Yield on long-term Treasury bonds (C.Lg.Lg)
117
Yield on municipal bonds, 20-bond average (U.Lg.Lg) ....
118
Secondary market yields on FHA mortgages (Lg,Lg,Lg) .
1094
Average prime rate charged by banks (Lg.Lg.Lg)
194 Index of stock prices, 500 common stocks, 1941-43=10,
NSA (UL.L).
727,799
729,225
727,960
727,799
728,618
728,395
727,404
723,821
722,928
722,919
721,820
449,234
434,230
433,507
427,799
423,933
427,137
427,309
425,768
423,653
418,429
420,354 '419,409 "416,029 '424,892 '432,157
385,475
373,050
372,429
369,110
366,724
368,222
368,053
366,095
361,479
354,601
15.13
14.91
14.89
14.72
14.74
14.60
14.52
14.43
14.36
14.35
14.30
"14.25
5.69
5.41
9.05
8.16
6.92
9.25
8.46
<&2L
5.03
8.81
7.88
6.68
8.71
8.00
4.81
t£6
8.72
7.83
6.73
8.69
7.58
if
^J13,
3.84
8.36
7.48
6.54
8.72
6.50
-4.06
^84
8.63
7.78
6.74
8.74
, 6.50
3.98
~TO
8.62
7.93
6.76
8.85
6.50
-3J3
3.81
8.59
7.88
6.67
8.79
6.50
J2fi
8.55
7.58
6.69
8.10
7.21
857
7.80
6.57
8.66
6.50
3.70
8.45
7.72
6.49
8.56
6.50
J2L25
3.28
8.19
7.40
6.13
8.12
6.02
^3fl ...
r
3!l4
7.96
7.19
6.16
8.08
6.00
376.18
386.88
385.92
388.51
416.08
412.56
407.36
407.41
414.81
408.27
415.05
.
r
356,534 " 356,640 "353,166 "359,773 '366,857
"14.21
'14.06
3.22
^237
7.99
7.08
6.25
8.06
6.00
JUO
2.84
8.17
7.26
6.41
8.29
6.00
ZQ9
3.14
8.23
7.43
6.36
8.54
6.00
417.93
418.48
412.50
422.84
'6,960
'79.7
13. NATIONAL DEFENSE
525
548
557
570
5644
Defense Department prime contract awards, mil $
Manufacturers' new orders, defense products, mil.$
Index of industrial production, defense and space
equipment, 1987=100.
Employment, defense products industries, thous
Federal Government purchases, national defense. bil.S. AR
93,877
91.1
8,462
89.1
4,946
88.8
8,425
88.1
11,134
8,075
86.7
11,262
6,126
86.2
12,961
6,730
85.6
12,393
8,101
84.7
10,996
5,854
84.2
10,098
7,167
83.6
14,142
5,630
82.7
9,807
6,462
'81.8
'11,184
5,170
81.0
"7,464
"80.5
1,159
323.8
1,137
1,129
314.7
1,124
1,116
1,108
313.6
1,098
1,084
1,076
311.7
1,065
1,054
1,046
"319.6
"1,038
'1,030
37,083
3112
7318
"42696
"3,493
6,005
36,405
3584
7522
"43494
"4,229
6036
35,717
3,109
7504
"42 903
"3,982
5,989
107,464
132,022
-24,558
38,163
3729
8210
"44957
"4,813
5,918
37,805
3621
7858
"45 127
"5,259
5675
35,799
3417
7598
"44796
"4,213
5815
'110,812
'137,350
'-26538
"37,882
3828
8453
"46459
4,512
6669
39,184
4053
8024
46218
4,648
5984
"1088
'109
"1093
'115
'110
'100
'1032
'97.8
'113
14. EXPORTS AND IMPORTS
602
604
606
612
614
616
6184
6204
622
Exports, excluding military aid shipments, mil.$
Exports of domestic agricultural products, mil.$
Exports of nonelectrical machinery, mil.$
General imports mil $ §
Imports of petroleum and petroleum products, mil.$§
Imports of automobiles and parts, mil.$
Merchandise exports, adjusted, excluding military, mil.$ ' ....
Merchandise imports, adjusted, excluding
military, mil.$ > ....
Balance on merchandise trade, mil.$ 1
422,389
38,533
89,427
487129
50,154
68,941
415,962
489,398
-73,436
36,840
3,502
7,656
42712
4,041
6,150
37,268
3,290
7,996
41 382
3,736
5,941
107,851
126,390
-18,539
36,052
3,594
7,749
41 674
3,968
5,539
35,466
3,292
7,352
"41 314
"3,438
6,066
37,653
3,610
7,948
"40 975
"3,340
5,644
107,946
125,168
-17,222
15. INTERNATIONAL COMPARISONS
474
721 4
7284
7254
7264
7224
7274
7234
320
4
738
4
735
736
732
4
4
4
737
4
733
4
194
7484
7454
7464
7424
7474
7434
7504
7584
7554
7564
7524
7574
7534
Industrial production indexes (1987=100):
United States
OECD, European countries2
Japan
Federal Republic of Germany
France
United Kingdom
Canada
Consumer price indexes (1982-84=100):
United States NSA
Percent change over 6-month span AR .
Japan NSA
Percent change over 6-month span AR
Federal Republic of Germany, NSA
Percent change over 6-month span AR
France NSA
Percent change over 6-month span AR
United Kingdom, NSA
Percent change over 6-month span AR
Italy NSA
Percent change over 6-month span, AR
Canada NSA
Percent change over 6-month span AR
Stock price indexes (1967=100, NSA):
United States
Federal Republic of Germany
France
United Kinodom
itaiy
:.! :."::::.::::::::...;::::::..:::::.::..:::::: :::.::....:
Canada
Exchange rates:
Exchange value of U.S. dollar, index: March 1973=100,
NSA^
Foreign currency per U.S. dollar (NSA):
Japan (yen)
Federal Republic of Germany (d. mark)
France (franc)
United Kingdom (pound)
Italy (lira)
Canada (dollar)
1071
110
100
1081
96.4
1084
"110
1239
117
111
101
1066
97.2
1081
111
1238
118
110
100
1125
96.7
1074
108
1220
113
109
100
1056
95.3
1066
111
121 5
119
"110
99
1095
95.6
1072
112
1207
120
110
100
1120
96.4
1076
111
1177
118
"109
99
111 6
"96.6
1081
110
1176
117
111
100
1054
"96.9
1089
110
1156
117
109
99
"1102
"96.5
1085
"109
1181
116
"109
99
1081
"96.5
1094
110
1190
115
110
100
"1087
"96.1
"1091
108
'1144
115
110
100
1036
"97.9
136.2
30
1150
23
116.0
41
137.2
29
156.9
42
1700
5.8
143.1
28
137.4
3.1
1164
25
117.4
28
138.6
32
158.7
37
1723
4.1
143.4
13
137.8
3.1
1166
23
117.9
34
138.9
37
159.3
40
1735
5.0
144.0
.3
137.9
3.4
1160
3.5
118.0
38
139.1
34
159.4
40
1740
5.4
143.4
.7
138.1
3.4
1158
3.1
118.5
34
139.4
28
159.3
46
1754
5.4
144.0
18
138.6
2.9
1157
.3
119.2
3.1
139.8
29
160.1
43
1759
5.6
1441
8
139.3
3.1
1163
2.1
119.7
3.9
140.2
26
160.6
37
1766
5.7
144.6
11
139.5
3.2
1175
1.2
120.0
41
140.5
26
163.1
34
1773
5.0
1446
15
139.7
3.2
1176
1.6
120.5
36
140.9
20
163.7
29
1783
5.4
1449
24
140.2
2.6
1175
1.2
120.7
30
141.0
16
163.7
27
1789
5.1
1452
21
140.5
3.0
1166
-1 0
120.7
35
141.4
•1 9
163.1
25
1791
4.6
1456
15
140.9
3.2
1169
141.3
141.8
1175
1176
4092
16684
317.0
8142
1,145.5
321.7
3921
4208
16940
3158
861 7
1,207.1
304.7
397.3
4198
1 6318
313.2
8569
1,177.6
306.4
3903
4226
15334
301.3
8097
1,130.6
299.4
396.9
4526
14747
315.1
891 2
1,177.6
321.3
4063
4488
1 4260
3267
9078
1,195.7
326.2
4047
4431
1 333 0
331.6
9204
1,178.2
312.1
3856
89.73
90.69
87.98
85.65
86.09
88.04
90.44
89.84
88.30
85.91
82.57
80.97
81.98
85.03
90.04
130.77
134.51
129.63
1.6893
1.6208
1.6585
5.7583
5.5391
5.6388
.5619
.5667
.5803
1 239 62 1 263 20 122104
1 1279 1.1302
1 1460
128.04
1.5630
5.3406
.5473
1 18221
1.1467
125.46
1.5788
5.3858
.5528
1 18976
1.1571
127.70
1.6186
5.5088
.5625
121592
1 1825
132.86
1.6616
5.6400
.5801
1 24828
1.1928
133.54
1.6493
5.5773
.5693
1 241 55
1.1874
130.77
1.6225
5.4548
.5526
1 22095
1.1991
126.84
1.5726
5.2940
.5391
1 18952
1.1960
125.88
1.4914
5.0321
.5215
1 129.83
1.1924
126.23
1.4475
4.9119
.5146
1 100.00
1.1907
122.60
1.4514
4.9378
.5416
1,176.21
1.2225
121.17
1.4851
5.0370
.6050
1,309.64
1.2453
123.88
1.5875
5.3706
.6550
1,36445
1.2674
110
124.1
118
4432
451 2
1 1760 12428
334.9
3377
951 3
9694
1,207.1
1,284.2
302.2
311.0
3792
3828
120.9
121.2
121.7
141.5
141.5
142.0
163.2
17
1792
163.8
164.4
1798
1809
145.6
145.5
145.7
'1097
142.0
164.1
4441
451 5
448.7
4552
4600
454.6
1 242.8
1,177.8 '1,153.5
1 1760 1 1327 1 0939
285.2
'273.2
316.2
292.2
"266.3
3358
9004
"8455
8580
9388
8953
8580
1,178.8
1,147.5 '1,076.1 '1,109.2 '1,173.8 '1,250.1
'291.2
"298.0
"267.0
"260.1 "'237.5 "'259.1
384.5
3828
3891
372.6
377.0
370.8
16. ALTERNATIVE COMPOSITE INDEXES
9904
9914
9924
9934
1967=1 0044
CIBCR long-leading composite index
CIBCR short-leading composite index, 1967=1 00
BEA coincident composite indexes: s
Modified methodology 1982=1 00
Stock and Watson methodology, Aug. 1982=1 005
See footnotes on page C-6.
2381
204.1
2437
"208.8
2427
"209.2
241.6
207.3
244.0
211.0
2467
211.8
246.4
213.4
247.3
"213.8
249.5
"215.0
250.2
"216.2
252.7
217.6
"253.5
217.5
"254.6
216.8
"253.8
"217.3
'255.2
'220.0
1244
129.5
1249
130.8
1246
130.5
124.5
129.8
124.3
129.3
1248
129.7
124.9
130.1
125.0
130.7
125.2
131.3
125.2
131.2
125.6
132.0
"125.5
"131.7
125.5
"131.6
"125.9
"131.9
'126.0
'132.3
SURVEY OF CURRENT BUSINESS
C-6 • December 1992
FOOTNOTES FOR PAGES C-l THROUGH
a
AR
c
©
e
Anticipated.
Annual rate,
Corrected.
Copyrighted,
Estimated.
Available data for later period(s) listed in notes.
NSA
p
r
•
§
o
05
Not seasonally adjusted.
Preliminary.
Revised.
Graph included for this series.
Major revision-see notes.
End of period.
UC.Lg.U Cyclical indicator series are classified as L (leading), C (coincident), Lg (lagging), or U (unclassified) at reference cycle peaks, troughs, and overall. Series classifications
are shown in parentheses following the series titles.
$ Cyclical indicator series denoted by i are inverted (i.e., the sign is reversed) for cyclical analysis calculations, including classifications, contributions to composite indexes,
and current high values.
t Cyclical indicator series denoted by t are smoothed by an autoregressive-moving-average filter developed by Statistics Canada.
For information on composite indexes and other concepts used in this section, see "Composite Indexes of Leading, Coincident, and Lagging Indicators" in the November 1987
SURVEY OF CURRENT BUSINESS and "Business Cycle Indicators: Revised Composite Indexes" in the January 1989 SURVEY.
References to series in this section use the prefix "BCI-" followed by the series number. Unless otherwise noted, series are seasonally adjusted.
Percent Change data are centered within the spans: 1-month changes are placed in the ending month, 3-month changes are placed in the 3d month, 6-month changes are
placed in the 4th month, 1-quarter changes are placed in the ending quarter, and 4-quarter changes are placed in the 3d quarter.
Diffusion indexes are defined as the percent of components rising plus one-half of the percent of components unchanged. Diffusion index data are centered within the spans:
1-month indexes are placed in the ending month and 6-month indexes are placed in the 4th month.
High values reached by cyclical indicators since the last reference cycle trough (March 1991) are shown in boldface type; high values reached prior to the period shown in the
table are listed at the bottom of each page. For inverted series, low values are indicated as highs.
Sources for series in this section are shown on pages C-47 and C-48 in the October 1992 SURVEY.
PageC-1
Page C-4
* Preliminary December 1992 values: BCI-19 = 434.86 and BCI-109 = 6.00.
1. Data include initial claims made under the July 1992 Emergency Unemployment Compensation
amendments. Data exclude Puerto Rico, which is included in figures published by the source agency.
2. Copyrighted. This series may not be reproduced without written permission from the University
of Michigan, Survey Research Center, P.O. Box 1248, Ann Arbor, Ml 48106-1248.
3. Excludes BCI-57, for which data are not available.
4. Excludes BCI-77 and BCI-95, for which data are not available.
* Preliminary December 1992 values: BCI-122 = 78.3, BCI-123 = 104.5, and BCI-85 = 0.37.
1. Copyrighted. This series may not be reproduced without written permission from the University
of Michigan, Survey Research Center, P.O. Box 1248, Ann Arbor, Ml 48106-1248.
2. Copyrighted. This series may not be reproduced without written permission from the American
Bankers Association, 1120 Connecticut Avenue, NW, Washington, DC 20036.
Page C-2
* Anticipated 1st quarter 1993 values: BCl-61 = 576.07 and BCI-100 = 549.35; anticipated 2d quarter
1993 values: BCl-61 = 591.20 and BCI-100 = 566.54.
1. Data include initial claims made under the July 1992 Emergency Unemployment Compensation
amendments. Data exclude Puerto Rico, which is included in figures published by the source agency.
2. Data exclude Puerto Rico, which is included in figures published by the source agency.
3. Copyrighted. This series may not be reproduced without written permission from McGraw-Hill
Information Systems Company, F.W. Dodge Division, 1221 Avenue of the Americas, New York, NY
10020.
Page C-3
* Preliminary December 1992 value: BCI-23 = 266.8.
1. Copyrighted. This series may not be reproduced without written permission from Commodity
Research Bureau, Inc., 75 Wall Street, 22d Floor, New York, NY 10005.
Page C-5
NOTE.—Major data revision: General imports (BCl-612) and general imports of petroleum and petroleum products (BCI-614) have been revised by the source for 1992 to reflect the updating of basic
statistics. For further information, contact the U.S. Department of Commerce, Bureau of the Census,
Foreign Trade Division, Washington, DC 20233.
* Preliminary December 1992 values: BCI-119 = 3.04, BCI-114 = 3.26, BCI-116 = 8.13, BCI-115
= 7.32, BCI-117 = 6.24, BCI-109 = 6.00, BCI-19 (1941-43=10) = 434.86, BCI-19 (1967=100) = 473.0,
BCI-748 = 1,195.2, BCI-745 = 271.0, BCI-746 = 863.2, BCI-742 = 1,298.6, BCI-747 = 275.2, BCI-743
= 371.4, BCI-750 = 90.13, BCI-758 = 123.89, BCI-755 = 1.5752, BCl-756 = 5.3741, BCI-752 = 0.6412,
BCI-757 = 1,400.63, and BCI-753 = 1.2737.
1. Balance of payments basis: Excludes transfers under military grants and Department of Defense
sales contracts (exports) and Department of Defense purchases (imports).
2. Organisation for Economic Co-operation and Development.
3. This index is the weighted-average exchange value of the U.S. dollar against the currencies of
the other G-10 countries plus Switzerland. Each country is weighted by its 1972-76 global trade. For a
description of this index, see the August 1978 Federal Reserve Bulletin (p. 700).
4. This index is compiled by the Center for International Business Cycle Research (CIBCR), Graduate
School of Business, Columbia University, New York, NY 10027.
5. For an explanation of this index, see The Composite Index of Coincident Indicators and Alternative
Coincident Indexes" in the June 1992 SURVEY.
Notes for Pages C-7 Through C-24
The following notes explain general features of the charts that appear in this section:
• Business cycle peaks (P) and troughs (T), as designated by the National Bureau of Economic
Research, Inc., are indicated at the top of each chart. The shaded areas represent recessions.
• For each series classified as a cyclical indicator, the timing classifications at peaks, at
troughs, and overall are shown in a box adjacent to the title. (L = leading, C = coincident, Lg =
lagging, U = unclassified.) A complete list of series titles and sources is shown in the April and
October issues of the SURVEY.
• Arithmetic scales are designated "Scale A." On the same arithmetic scale, equal vertical
distances represent equal differences in data. (For example, the vertical distance from 10 to 15
is the same as the distance from 100 to 105.)
t Logarithmic (log) scales are designated L-1, L-2, or L-3 to indicate their relative size. On
log scales of the same size, equal vertical distances represent equal percentage changes. (For
example, the vertical distance from 10 to 15 is the same as the distance from 100 to 150.)
Compared with an L-1 scale, the same percentage change covers half the distance on an L-2
scale and one-third the distance on an L-3 scale.
• Data are monthly unless otherwise indicated. Quarterly data are indicated by a "Q" following
the series title.
• Some series include a centered moving average, which is shown as a heavy line
superimposed on the actual monthly data.
• Parallel lines across a plotted series indicate a missing data value, change in definition, or
other significant break in continuity.
• The box near the end of each plotted series indicates the latest data month (Arabic numeral)
or quarter (Roman numeral) shown or, for series computed over a span of time (diffusion indexes
and rates of change), the latest data period used in computing the series.
SURVEY OF CURRENT BUSINESS
December 1992 • C-7
Composite Indexes
Aug. Apr.
P T
Apr. Feb.
P T
Dec. Nov.
P T
Nov. Mar.
P T
Jan. July July Nov.
PT P T
1956 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 921993
NOTE—The numbers and arrows indicate length of leads (-) and lags (+) In months from business
cycle turning dates. Current data for these series are shown on page C-1.
C-8
SURVEY OF CURRENT BUSINESS
• December 1992
Composite Indexes: Rates of Change
Aug. Apr.
P T
Apr. Feb.
P T
Dec. Nov.
P T
Nov. Mar.
P T
Jan. July July Nov.
PT
P T
index of 7 Fagg ng indicate
Composite Indexes: Diffusion
Percent of components rising over 6-month span
1956 5 7 5 8 5 9 6 0 6 1 6 2 6 3 6 4 6 5 6 6 6 7 6 8
NOTE.—Current data for these series are shown on page C-1.
70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 921993
SURVEY OF CURRENT BUSINESS
December 1992
Composite Indexes: Leading Index Components
Aug. Apr.
P T
Apr. Feb.
P T
Jan. July July Nov.
PT P
T
July Mar.
P T
r nancfe-slow r deliveries dlffusio i inde)
1956 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 921993
NOTE.—Current data for these series are shown on page C-1.
• C-9
C-10 • December 1992
SURVEY OF CURRENT BUSINESS
Composite Indexes: Leading Index Components—Continued
Aug. Apr.
P T
Apr. Feb.
P T
Dec. Nov.
P
T
Nov. Mar.
P
T
Jan. July July Nov.
PT
P
T
July Mar.
P T
1956 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 921993
1. This series is smoothed by an autoregresslve-moving-average filter developed by Statistics Canada.
2. This is a copyrighted series used by permission; it may not be reproduced without written permission
from the University of Michigan, Survey Research Center.
NOTE.—Current data for these series are shown on page C-1.
SURVEY OF CURRENT BUSINESS
December 1992 • C-ll
Composite Indexes: Coincident Index Components
Aug. Apr.
P T
Apr. Feb.
P T
Dec. Nov.
P
T
Nov. Mar.
P
T
Jan. July July Nov.
PT
P
T
July Mar.
P T
1956 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 921993
NOTE.—Current data for these series are shown on page C-1.
C-12 •
December 1992
SURVEY OF CURRENT BUSINESS
Composite Indexes: Lagging Index Components
Aug. Apr.
PT
Apr. Feb.
P T
Dec. Nov.
P T
Nov. Mar.
P T
Jan. July July Nov.
PT
P
T
1956 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 921993
l.TO
NOTE.—Current data for these series are shown on page C-1.
SURVEY OF CURRENT BUSINESS
December 1992
• C-13
Employment and Unemployment
1965 66
67 68
69 70
71 72
73 74 75 76
NOTE.—Current data for these series are shown on page C-2.
77 78
79
80 81 82
83 84 85 86
87 88
89 90 91
92 1993
C-14
*
SURVEY OF CURRENT BUSINESS
December 1992
Output, Production, and Capacity Utilization
Jan. July
P T
Dec. Nov.
P
1965 66
67 68
T
69 70 71
72 73 74 75 76
NOTE.—Current data for these series are shown on page C-2.
77 78
July
P
79 80 81
Nov.
T
82
July Mar.
P T
83 84 85 86
87 88
90
91
92 1993
December 1992
SURVEY OF CURRENT BUSINESS
Sales and Orders
Jan. July July
F T P
Nov.
T
July Mar.
P T
Wages and Consumer Attitudes
i n 1987(ol
(ann. rite, bil. col.)
1965 66
67 68
69
70 71 72
73 74
75
NOTE.—Current data tor these series are shown on pages C-2 and C-4.
76 77 78
79 80
81
82
83 84 85 86
87 88 89
90 91
92 1993
• C-15
SURVEY OF CURRENT BUSINESS
C-16 • December 1992
Fixed Capital Investment
_J
Dec. Nov
P T
1965 66
67 68
69 70
Jan. July July
F T P
71 72 73
74
75 76
77 78
1. This is a copyrighted series used by permission; it may not be reproduced without written
permission from McGraw-Hill Information Systems Company, F.W. Dodge Division.
79 80
81
July Mar.
P T
Nov.
T
82
83 84 85 86 87
88 89
90 91
NOTE.—Current data for these series are shown on page C-2.
92 1993
SURVEY OF CURRENT BUSINESS
December 1002
• C-17
Fixed Capital Investment—Continued
Dec. Nov.
P T
Jan. July
P T
July
P
Nov.
T
JulyMar.
P T
vestment in 1987 d
86. Tote I, Q
1965 66
67 68
70 71 72 73 74 75 76 77 78 79
1. Dotted line represents anticipated expenditures.
NOTE.—Current data for these series are shown on pages C-2 and C-3.
80 81 82 83 84 85 86
87 88
89 90 91
92 1993
C-18 •
SURVEY OF CURRENT BUSINESS
December 1992
CYCLICAL INDICATORS
Fixed Capital Investment—Continued
Dec. Nov.
P T
Jan. July July
F T P
Nov.
T
JulyMar.
P T
Inventories and Inventory Investment
1965 66
67 68 69 70 71
72 73 74 75
NOTE.—Current data for these series are shown on page C-3.
76 77
78 79 80
81 82
83 84 85
86 87
88
90 91
92 1993
December 1992
SURVEY OF CURRENT BUSINESS
• C-19
Prices and Profits
Ratio, corporate domestic profits after tax with IVA
unit labor cost, nonfarm busi
1965 66
67 68
69
70 71
72 73 74 75
76 77 78
IVA Inventory valuation adjustment. CCAdj Capital consumption adjustment.
NOTE.—Current data for these series are shown on pages C-3 and C-4.
79 80
81 82 83
84
85 86
87
88
89
90 91
92 1993
1. From June 1981 forward, this is a copyrighted series used by permission; it may not be
reproduced without written permission from Commodity Research Bureau, Inc.
C-20
•
SURVEY OF CURRENT BUSINESS
December 199.2
Money, Credit, and Interest Rates
JulyMar.
P t
ge in money su
LLL
oney
(peoent)1 TTi±
of 91-da/Treasury bills
(ann.rale.bll.do.)1
corpora :e bonds (pe
Net chjange in Consume installrflent
dp'-)1
ten i Treasury bonds (pe
HO.fundsr sedbyp ivatenonfinan
in credit markets, Q (ann. rate, bil
'
1
,i.i/4«, , . . I . , , L. , I . , .
1981 82
83 84 85 86
87
88 89 90
91 92 1993
1. The heavy line is a centered 6-term moving average.
NOTE.—Current data for these series are shown on pages C-4 and C-5.
1981 82
83 84 85 86
87
88
89 90 91 92 1993
SURVEY OF CURRENT BUSINESS
December 1992
Alternative Composite Indexes
1965 66
67 68
70 71
72 73 74
75 76 77 78
79
CIBCR Center for International Business Cycle Research (Columbia University).
1. See "The Composite Index of Coincident Indicators and Alternative Coincident Indexes,' SURVEY
OF CURRENT BUSINESS 72 (June 1992): 42-45.
80 81
82 83
84 85 86
87 88
89
90 91
NOTE.—Current data for these series are shown on page C-5.
92 1993
• C-21
C-22
SURVEY OF CURRENT BUSINESS
• December 1992
OTHER IMPORTANT ECONOMIC MEASURES
Prices
July
P
Other Measures
Nov.
T
July
P
Nov.
T
July Mar.
P T
Percent change
saving rate.Q «pent)
Fixed-weighted price
domes tic busin jss prod
Price Indexes for all urpan co
320c.JAllitems
Government sur
__ 336c, Hi isbed gs ods_
noutpjt per hour
businessjsecto (ann
337c. Finished gdods less foods ap energy
1-quarter span
4. Federal Government purcha
defense, QJann
334ii. Finished consu
333c.CJpitaleqiii
mediate materials, supplies, anjompone,nts
il
ndise imports, adjusjed^ ex
tary, Q (ann. rate
Crude materials f>r
further prpcessin
618^Merchandise exports, ad|u
excluding military, Q (ann. rm, b I. dot.)
1981 82 83 84 85 86 87 88 89 90 91 92 1993
NOTE.—Current data for these aeries are shown on pages C-3, C-4, and C-5.
1981 82 83 84 85 86 87 88
90 91 92 1993
SURVEY OF CURRENT BUSINESS
December 1992
OTHER IMPORTANT ECONOMIC MEASURES
International Industrial Production
July Nov.
P
T
International Consumer Prices
July Mar.
P T
July Nov.
P
T
nt change over 6-month spaiBinnual rate
productionUnited Stales
)ECD European countries
republic of Ger
Republic o LGermar y
United Kingdom
nitedKiigdom
1981 82
83 84 85 86
87 88 89 90 91 92 1993
NOTE.—Current data for these series are shown on page C-5.
1981 82 83 84 85 86
87 88
90 91
92 1993
•
C-23
C-24
•
December 1992
SURVEY OF CURRENT BUSINESS
OtHER IMPORTANT ECONOMIC MEASURES
International Stock Prices
July
P
Nov.
T
International Exchange Rates
July
P
July Mar.
P T
Nov.
T_
ighted-a verage exchange value
1981
82
83 84
85 86
87 88 89 90 91 92 1993
NOTE.—Current data for these series are shown on page C-5.
1981 82
83 84 85 86
87 88
89
90 91
92 1993
SURVEY OF CURRENT BUSINESS
December 1992
S-l
CURRENT BUSINESS STATISTICS
Series originating in Government agencies are not copyrighted and may be reprinted freely. Series from private sources
are provided through the courtesy of the compilers and are subject to their copyrights.
Current data for the series shown in the S-pages are available on diskette on a subscription basis or from the Commerce
Department's Economic Bulletin Board. Historical data, data sources, and methodological notes for each series are published
in BUSINESS STATISTICS, 1963-91. For more information, write to Business Statistics Branch, Business Outlook Division
(BE-52), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230.
NOTE.—This section of the SURVEY is prepared by the Business Statistics Branch.
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown in
BUSINESS STATISTICS, 1963-91
Annual
1991
1990 | 1991
Oct.
1992
Nov. | Dec.
Jan. | Feb.
Mar.
Apr. |
May |
June |
July |
Aug. |
Sept. | Oct.
Nov.
1. GENERAL BUSINESS INDICATORS
PERSONAL INCOME BY SOURCE t
[Billions of dollars]
Seasonally adjusted, at annual rates:
Total personal income
Wage'and salary disbursements, total
Commodity-producing industries, total
Manufacturing
Distributive industries
Service industries
Government
Other labor income
Proprietors' income: *
harm
Nonfarm
Rental "income of persons with capital consumption
adjustment
Personal dividend income .
Personal interest income
Transfer payments to persons
Less: Personal contributions for social insurance ...
Total nonfarm income
48283
48893
48874
49449
49432
49887
50096
50154
50327
50385
r
2,835.4
744.3
565.7
650.0
8966
5446
293.6
2,838.5
737.3
560.5
653.2
2,861.2
742.9
565.4
655.4
2,852.8
733.9
2,884.9
2,895.0
739.6
2,890.6
563.6
2,905.7
742.8
564.2
r
561.6
901.4
914.8
5481
2,907.6
745.3
566.3
664.7
936.3
5613
5641
271.0
2,812.2
737.4
556.9
647.4
883.9
5436
288.3
302.1
303.6
305.0
41.7
35.8
40.9
3252
3322
3397
31.4
361 9
-123
1403
-104
1370
-123
1347
6945
685.8
224.8
45996
7006
7038
771.1
238.4
47704
4,6642
4 828.3
48893
48874
46642
2,742.8
745.6
556.1
634.6
' 847.8
5148
557.1
654.4
737.1
561.1
741.2
663.4
661.0
936.1
929.8
5586
296.4
5528
297.8
664.9
928.0
5550
299.2
29.1
43.8
30.5
40.7
49.0
48.1
36.1
3395
3407
3490
3548
3569
3586
3592
5465
295.0
-48
911.7
-28
-42
1343
1338
7026
1336
6931
7941
7034
7937
240.7
48265
241.2
48365
242.5
48793
8117
8355
244.9
48907
-62
5560
300.7
-32
-12
33
663.1
935.7
'50564
'50809
'5139.2
5,149.9
2,91 1.2 '2,930.9
'663.8
r
940.7
r
5641
306.4
'743.5
'565.3
'668.3
'954.5
'5646
307.9
'2,928.3
'740.9
'565.0
'670.9
'952.1
'5643
309.3
'2,948.9
'748.5
'570.6
'672.4
'959.5
'5685
2,969.8
746.5
568.4
679.5
310.8
312.2
30.6
24.9
39.1
56.0
3638
'3638
'3699
'3755
42.9
3801
50487
r
742.7
r
566.1
r
r
80
1338
1342
1354
1366
1379
6844
8443
247.3
49258
6769
8482
248.2
49382
6760
8542
248.3
49449
6752
8609
249.8
49739
6744
49887
627.9
43608
41538
40303
4755
1 2806
22743
50096
609.0
44006
41537
40303
4635
1 2695
22973
44007
41627
4039 9
4626
1 2740
23033
41749
40526
4686
1 2803
23037
44195
42009
40787
4805
1 2783
23199
864.1
249.9
49844
96
'36
1395
141 3
'6631
r
6686
869.4
"2505
'872.8
'252.0
'4 995 3 '50087
'61
1423
'6578
'880.0
'251.9
'50189
'140
1438
'6548
'889.0
'253.5
'5 060 1
976.1
5676
151
1453
653.3
886.2
255.0
5,083.7
DISPOSITION OF PERSONAL INCOME t
[Billions of dollars, unless otherwise indicated]
Seasonally adjusted, at annual rates:
Total personal income
Less: Personal tax and nontax payments .:
Equals'
Disposable personal income
Less1 Personal outlays
Personal consumption expenditures
Durable goods
Nondurable goods
Services
Interest paid by persons
Personal transfer payments to rest of the world
(net)
Equals' personal saving
Personal saving as percentage of disposable
personal income §
'.
Disposable personal income in constant (1987)
dollars
Personal consumption expenditures in constant
(1987) dollars
Durable goods
Nondurable goods
Services
Implicit price deflator for personal consumption
expenditures, 1987=100
'50564
'630.1
'5,139.2
5,149.9
644.2
4,505.7
43178
49449
49432
621.3
618.7
621.6
621.2
624.1
4,042.9
38673
3,748.4
4643
12245
20597
4 209.6
40099
3 887.7
42677
40431
39208
43209
40844
621.8
4321 4
4131 3
3961 5
40078
451 1
4691
12495
2220 1
22447
4500
12530
22585
1096
4461
1 2515
2 1901
1125
42662
40688
39465
4502
1126
1126
1133
1133
1133
1124
111 9
111 8
'2331 6
111 4
9.3
9.7
97
9.7
9.7
10.2
102
102
104
104
104
'100
'100
'100
'100
100
1756
1996
2245
1973
2365
1901
2070
2468
2380
2402
2186
'2026
'2123
'1949
'2052
1878
4.3
47
48
51
48
49
49
53
55
53
50
'48
'46
46
44
3,5165
35090
35264
35134
35525
35493
35659
3581 9
35733
35786
35761
'35744
'35855
'3581 7
'36092
36049
3,260 4
4393
1,0565
1 7646
32408
32398
32501
32570
3291 7
4158
4148
4176
4338
1 0527
18052
1 8121
1 8182 '1 8237
'1 0525
'1 8332
'1 0628
'1 8333
33577
4505
1 0662
18139
'33153
4400
1 0524
'1 8229
'451 5
1 0347
1 8046
3300-9
4386
1 0436
'441 5
1 0347
18006
32848
4276
1 0488
1 8084
'33476
1 0372
1 7868
32803
4239
1 0444
'33272
4147
32805
4256
1 0409
'33126
4378
1 0424
1 7837
32956
4377
1 0552
1 8027
115.0
120.0
121.0
121.4
121.6
121.8
122.3
122.9
123.2
123.4
123.6
123.8
'123.5
124.2
124.7
125.0
1092
1070
1098
1075
1052
1049
1075
1071
1066
1073
110.2
1079
'111 8
'111.7
'110.9
109.1
102.6
108.0
109.9
111.6
107.8
101.1
109.2
107.4
107.1
107.9
101.4
97.5
111.7
110.4
113.5
102.0
105.6
108.2
107.8
108.7
100.0
117.2
104.6
104.4
104.9
99.3
126.2
103.5
103.1
104.0
100.5
121.2
106.9
106.8
107.0
98.3
110.3
107.7
107.7
107.7
98.5
102.0
107.7
107.1
108.5
98.1
95.9
109.1
108.7
109.6
96.8
100.9
112.3
110.7
114.4
96.5
108.0
108.9
106.0
112.7
'98.2
'98.1
'107.2
'113.5
'110.5
'117.2
'104.4
'113.6
'99.7
'96.6
'117.7
'113.3
'111.8
'115.2
102.2
101.7
110.5
109.7
111.4
109.2
107.1
108.4
108.1
107.4
106.6
107.2
107.6
108.1
108.9
108.5
109.4
'109.1
'108.8
'109.3
109.7
1101
110.8
107.3
1081
109.6
107.5
1090
110.6
109.7
109.0
110.6
110.0
108.4
109.9
109.1
107.5
108.7
108.1
108.1
109.4
108.8
108.5
109.8
109.3
109.0
110.6
110.1
109.7
111.4
110.8
109.0
110.5
109.6
109.6
111.0
110.4
'109.8
'111.5
'110.8
'109.3
'110.1
'111.9
'111.0
110.4
112.2
111.3
1251 7
12723
22664
1134
50154
50327
614.7
617.6
44151
50385
619.0
'5048.7
'624.1
'4 424 6 '44263
'42220
'41006
4798
1 2892
1 0512
'42140
'40928
'4832
1 2939
'23158
111 2
'5,080.9
'632.2
'44487
638.1
'4,501.1
'4 253 8 '4 295 9
'41326
'4846
'1 2954
'23526
'111 2
'41749
'4963
4 196.7
4950
'1 3103 1 3148
'2 368 2 23869
111 1
'111 0
1 841 1
INDUSTRIAL PRODUCTION
[1987=100]
Not seasonally adjusted:
Total index
By industry groups:
Mining ..
Utilities .
Manufacturing
Durable
Nondurable
Seasonally adjusted:
Total index
By market groups:
Products total
Final products
Consumer aoods
See footnotes at end of tables.
110.4
111.0
110.3
SURVEY OF CURRENT BUSINESS
S-2 • December 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1963-91
Annual
|
1990
1992
1991
1991
Oct. |
Nov. |
Jan. |
Dec.
Feb. |
Mar. |
Apr. j
June
May
July
Aug.
"109.2
106.8
100.6
"111.1
"111 2
"110.1
Sept. I
Oct.
Nov.
r
"108.6
'108.9
105.9
"108.3
r
111.7
'109.4
"94.2
'124.8
'124.1
r
107.2
108.9
109.2
107.2
108.7
112.0
109.6
1. GENERAL BUSINESS INDICATORS-Continued
INDUSTRIAL PRODUCTION-Continued
[1987*100]
Seasonally adjusted—Continued
By market groups—Continued
Final products—Continued
Consumer goods—Continued
Durable
Automotive products
Autos and trucks
Other durable goods
Nondurable
Foods and tobacco
Clothing
Chemical products
Paper products
Energy products
Business equipment
Information processing and related
Office and computing machines .
Industrial
Transit
Autos and trucks
Defense and space equipment
Oil and gas well drilling
Manufactured homes
Intermediate products
Construction supplies
Business supplies
Materials
Durable
Nondurable
Energy
By industry groups:
Mining
Metal mining
Coal
..
Oil and gas extraction #
Crude oil
Natural gas
Stone and earth minerals
Utilities
Electric
Gas
Manufacturing
Durable
Lumber and products
Furniture and fixtures
Clay, glass, and stone products
Primary metals
Iron and steel
Nonferrous
Fabricated metal products
Nonelectrical machinery
Electrical machinery
Transportation equipment
Motor vehicles and parts . .
Instruments
Nondurable . . .
Foods
Tobacco products
Textile mill products
Apparel products
Paper and products
Printing and publishing
Chemicals and products
Petroleum products
Rubber and plastics products
Leather and products
1061
102.2
1024
98.3
1075
1060
1046
101 3
1053
1062
1079
106.7
101.3
1051
109.3
908
105.7
94.2
84.3
103.6
957
108.3
106.5
97.2
1076
1089
1103
105.9
957
113.2
119.6
106.8
935
115.9
123.4
107.8
963
117.0
125.6
103.6
990
108.0
111 1
108.1
965
117.9
126.4
108.1
1092
108.0
104.0
110.2
108.6
106.6
100.5
110.3
107.2
106.9
101.6
943
108.3
109.1
111 1
110.6
107.8
111.5
1103
1100
1098
1102
1107
1107
1097
1108
107.0
962
118.0
126.8
107.3
950
118.1
126.8
107.4
952
118.3
124.7
107.8
951
119.4
124.6
107.6
953
120.8
125.1
107.7
964
121.4
124.3
107.2
955
121.6
121.7
108.6
968
121.5
121.9
96.7
1025
"950
122.0
"121.8
r
1062
1059
1080
1085
1120
1093
1068
1064
1070
1089
1072
1048
1074
1155
1123
1094
1102
1104
119.9
134.1
160.6
100.7
121.0
134.6
162.4
101.3
121.5
136.0
164.9
101.3
1300
96.7
1272
89.2
1331
1242
84.9
1292
94.7
1289
95.0
124.5
139.2
170.5
103.4
133.3
105.6
111 6
124.1
140.4
174.0
102.9
131.8
101.7
111 8
124.4
141.9
178.0
103.4
128.7
101.1
1305
96.5
121.4
134.0
159.1
102.3
129.5
111 3
123.0
137.9
168.2
101.7
131 7
101.3
1123
121.6
131.5
155.6
108.1
111 4
121.8
133.4
157.8
104.2
1109
123.0
127.2
149.6
115.2
111 9
122.3
131.7
156.0
106.8
97.3
1093
90.6
91.0
89.1
88.8
86.2
85.6
84.7
84.2
83.6
82.7
790
781
87.0
792
100.7
792
100.3
746
86.3
739
101.7
762
85.4
88.1
75.8
87.5
86.7
941
97.1
786
112.0
1041
1039
103.8
1039
1044
1039
104.4
104.4
105.1
1125
"125.9
"143.5
182.0
"102.7
"132.6
101.3
"81.8
750
106.1
"104.4
954
110.1
959
109.4
95.0
967
109.7
965
109.0
97.8
97.2
98.6
"985
109.0
107.7
109.4
109.7
1104
1102
109.7
101 3
110.4
100.6
"108.5
"108.1
r
111 1
r
110.3
"1009
99.7
1664
98.0
1540
98.6
107.7
105.2
109.4
1033
961
96.1
71 8
98.3
955
109.9
1040
96.0
99.7
107.8
111 8
106.0
105.5
107.4
106.6
110.0
105.8
1071
1088
1070
1081
109.6
107.1
1023
1031
107.1
100.4
107.3
1021
1086
1077
1022
1081
106.0
1004
1005
102.5
101.1
1007
1465
996
151 5
108.4
941
98.8
1540
97.8
1442
98.4
1529
107.9
960
107.6
930
107.3
924
107.9
927
1078
1085
88.9
1124
1059
87.4
1091
1058
87.5
1056
1064
88.0
1042
1048
86.9
1062
1035
1036
1074
1097
1059
108.0
108.9
109.4
111.0
107.9
106.8
106.4
107.7
1108
1127
1122
1093
1090
1107
1083
1528
1502
113.4
955
109.3
958
884
87.5
1046
1193
105.2
109.6
105.8
106.1
106.8
1083
1089
1001
1087
1094
975
1558
1030
91 9
864
101 3
991
1542
1040
942
865
107.6
934
107.6
939
98.1
109.0
111 2
111.7
102.9
100.6
1637
112.0
940
84.5
1107
1080
1056
85.4
1122
1062
108.2
111 0
977
107.3
106.7
109.3
85.8
111 4
r
98.8
"1656
107.5
924
r
84.5
1106
1064
"108.8
106.9
' 104.5
98.2
"108.7
'111.3
"108.7
r
95.4
' 123.8
"124.3
r
106.3
111.9
r
125.3
'143.4
"184.0
"101.9
r
130.3
99.1
81.0
74.4
"80.5
80.2
79.7
85.2
111.2
"119.9
123.5
104.0
"96.8
M09.0
"104.5
"97.8
"109.1
'108.1
'110.9
'110.1
101.3
104.8
r
r
108.0
110.1
110.5
102.2
r
r
r
109.1
'112.3
'97.4
'108.6
'111.8
"96.6
107.9
111.0
109.7
'110.3
108.2
96.3
100.8
r
96.0
r
102.0
103.0
"100.6
'101.4
'129.1
111.9
'95.6
"97.2
'117.9
'109.2
110.8
109.7
101.2
102.3
1127
1047
1099
1102
96.6
1097
95.3
1130
95.4
1127
1090
1086
108.1
1074
1081
1085
1090
1099
1096
1102
'1101
r
111 6
101 1
105.9
105.8
108.2
109.7
106.1
105.8
126.5
111 4
105.5
1071
1082
1078
1071
1058
1070
1070
1076
1091
97.4
1085
1090
"1092
r
103.3
954
100.3
998
101.0
95.6
96.7
96.6
97.1
100.9
100.9
100.9
100.6
124.1
111 0
102.0
102.2
101.8
102.2
126.7
112.3
102.1
101.8
105.6
106.4
104.4
102.6
127.8
112.6
941
99.1
95.0
99.6
98.2
101.6
100.4
123.5
989
938
100.5
952
100.6
975
969
967
974
988
992
98.7
92.8
98.1
94.6
98.6
95.0
101.4
102.5
972
101.1
94.4
99.9
92.8
102.6
102.4
102.9
101.9
123.5
103.5
105.6
100.5
101.8
122.8
101.3
101.7
100.8
101.2
121.9
102.5
105.0
121.4
102.7
103.7
101.2
100.5
121.9
1098
1107
99.7
95.9
1106
98.0
94.6
1100
93.8
87.1
1107
96.8
93.8
1109
96.5
94.2
99.6
98.2
118.7
119.0
109.6
109.5
118.3
109.5
118.6
109.6
118.6
110.4
119.0
110.7
102.7
119.8
110.9
100.4
118.5
111.0
1101
1096
1092
1096
1102
1096
1093
1090
977
104.4
947
102.5
988
103.1
994
104.7
101 3
105.3
101 0
106.3
102.5
106.8
103.6
105.3
96.8
1101
98.8
90.8
116.9
118.1
107.8
107.9
102.4
100.4
118.2
110.1
1076
1086
1001
1094
1022
100.6
105.5
987
100.7
964
100.5
93.0
98.9
99.7
99.9
100.0
122.9
98.0
98.5
1025
102.2
126.4
112.2
96.7
97.7
"989
"101.7
"96.4
104.3
104.4
104.2
"102.5
"129.3
113.0
r
97.0
99.4
118.5
r
111.7
'111.3
"1106
"1159
"106.1
1098
1066
107.1
98.8
96.1
98.7
98.8
99.0
97.5
97.7
97.8
98.0
99.0
98.1
99.4
105.4
112.0
105.0
112.1
106.1
1101
1109
108.3
110.2
107.6
110.1
109.0
114.4
113.5
106.0
113.2
113.0
106.7
112.6
107.0
114.5
112.6
108.6
113.0
107.1
114.8
112.7
106.6
113.2
104.6
114.4
113.4
106.9
114.0
105.8
113.8
114.8
109.7
115.4
107.0
113.7
115.8
110.3
116.5
105.8
113.4
117.0
108.5
117.1
107.3
113.0
117.5
108.9
117.3
109.6
112.3
118.0
109.1
118.5
99.9
88.1
83.9
84.3
83.2
83.0
81.4
82.9
84.1
86.2
86.2
87.1
1142
"94.1
118.2
97.6
"106.3
'111.4
"117.6
104.3
"119.0
"84.8
r
r
rQO p
'108.6
'113.1
'118.1
'107.4
'117.6
"85.8
'101.4
"96.8
'104.7
'107.1
"101.3
'102.0
"130.4
'112.5
'97.4
'101.4
'117.8
'111.6
'110.9
'107.4
'104.1
'97.5
'106.2
'11 2.6
'118.4
'111.1
'118.6
'86.1
'111.6
r
r
1100
108.7
105.9
97.6
BUSINESS SALES
See footnotes at end of tables.
6,489,457
1
6,406,052
563,232
6 406 052 r 540 772
1
2 873 502 1 2 821 699 240 912
1 468 644 1 422 578 12277
118,14
1,404,858
1,399,121
6 489 457
1
r
541,579
540,264
240 980
122814
118,166
1,842739 r 154,464 "153974
652,951
"54,693
"55,34
r
"99,28
1,189,788
99,1 2
1
1
r
1,790 448 1,741 614 145,39
145,310
r
7122
89026
846 466
70855
r
74455
900 187
895148
7416
1,825507
660,779
1,164,728
552,437
531,919
232,730
116869
115,861
154,280
55,406
98,874
144,909
70467
74442
491,363
536,977
233,247
118698
114,549
510,044
556,171
546,661
544,017
545 424
240,684
123503
117,181
547081
241 749
123483
118,266
157,808
56,919
100,889
145,922
71 280
74642
159,753
57,961
101,792
157,873
57,122
100,75
146,867
7280
7406
158385
57,442
100,943
146,947
237,898
121 991
115,907
146,366
71 644
74722
7214
7480
99.5
165.8
105.0
94.0
84.0
113.4
'105.1
[Millions of dollars; constant (1982) dollar series
in billions of dollars]
Manufacturing and trade sales (unadj.), total
Manufacturing and trade sales (seas adj ) total
Manufacturing total
Durable goods industries
Nondurable goods industries
Retail trade total
Durable goods stores
Nondurable goods stores
Merchant wholesalers total
Durable goods establishments
Nondurable goods establishments
Manufacturing and trade sales in constant (1982)
dollars (seas, adj.), total
Manufacturing
Retail trade
Merchant wholesalers
'108.6
1 1 1 .3
111.8
101.1
"98.9
"165.2
'102.8
"93.7
1075
950
98.4
109.2
"98.8
164.6
103.7
r
93.3
'84.6
113.5
r
105.5
r
1099
977
'112.9
126.7
"145.8
"187.0
'102.2
'132.2
105.6
94.9
126.2
123,5
106.8
113.4
127,4
147.1
109.0
102.9
131.5
107.7
551,605
546,145
579,829
543,394
554 363
552 480
556,467 '576,315
r
558,745
558,479
241 479
122344
119,135
247,252
125831
121,421
559,701
247,216
124 789
122,427
241,014 "245,838
123364 "125346
r
117,650 120,492
244,023
124923
119,100
159,111
57,643
101,468
158,982
57,686
101,296
160,784
58,580
102,204
145,555
71 340
74215
148,129
73832
74297
151,701
7535
76350
160,999 "162,171 165,180
58,254 "59,259
60,936
102,745 '102,912 104,244
150,467 "150,736 149,276
75077 "73,96
73,735
75390 r 76 775 7554
580,822
105.4
96.5
96.9
1 04.8
107.6
100.8
102.9
131.7
113.0
96.9
102.1
117.3
112.2
111.?
106.8
105.7
97.9
107.8
111.6
119.6
111.4
119.7
88.3
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1963-91
1991
Annual
1990
|
December 1992 •
Oct. |
1991
1992
Nov. | Dec.
Jan.
Feb.
Mar. |
Apr. | May
June
July |
Aug. |
Sept.
r
Oct.
1. GENERAL BUSINESS INDICATORS-Continued
BUSINESS INVENTORIES
[Millions of dollars; constant (1982) dollar series in
billions of dollars]
Manufacturing and trade inventories, book value
(non-LIFO basis), end of period, (unadjusted),
total
Manufacturing and trade inventories, book value
(non-LIFO basis), end of period, seas, adj.),
total ...
Manufacturing total
Durable goods industries
Nondurable goods industries
Retail trade total
Durable goods stores
Nondurable goods stores
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
Manufacturing and trade inventories in constant
(1982) dollars end of period (seas adj.) total ...
Manufacturing
Retail trade
Merchant wholesalers
826,239
818,459
835,985
828,184
386043
246,966
139077
243162
117454
125,708
198,979
130,566
68,413
398851
259,746
139105
240217
119,331
120,886
196,917
130,793
66,124
r
839,717
843,679
818,459
824,342
825,505
388279
249,202
139077
240 879
116,873
124,006
196,347
128,126
68,221
388555
249,738
138817
r
240011
r
11 6,629
r
123,382
r
195,776
r
127,625
r
68,151
819,052
824,489
826,727
831,591
827,531
823,801
829,131
829,935
833,1 61
848,900
828,184
824,150
824,609
826,204
831,872
832 866
383 255
244,395
138860
383 239
243,787
139452
383 286
242,447
140839
382 854
241,891
140963
243162
117,454
125,708
198,979
130,566
68,413
240 986
115,918
125,068
241 938
117,259
124,679
247 349
122,694
124,655
198,730
129,517
69,213
199,416
129,834
69,582
244288
119,827
124,461
198,677
129,059
69,618
248813
123198
125,615
200,205
131,211
68,994
835373
383491
241 258
142233
251 382
124421
126,961'
200,500
130,968
69,523
836,972 r835,457
384 434
245,754
138680
828,630
382 206
242,512
139694
247 992
122,884
125,108
198,432
129,203
69,229
828,032
386 043
246,966
139 077
197,397
129,402
67,995
385596
242,036
143560
250 302
124 348
125,954
201,074
132,274
68,800
r
384 390
'240,550
r
383 827
239417
143 840 144410
r
251 142 250 398
r
124 204 123780
r
r
126,938
199,925
67,940
126,618
198,641
131,251
67,390
"1 31 ,985
r
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total
1.52
1.53
1.56
1.53
1.52
1.51
1.51
1.52
150
149
1.51
Manufacturing total
Durable goods industries
Materials and supplies
Work in process
Finished goods
Nondurable goods industries
...
. . ..
Materials and supplies
Work in process
Finished goods
Retail trade total
Durable goods stores
Nondurable goods stores
Merchant wholesalers total .
Durable goods establishments
Nondurable goods establishments
Manufacturing and trade in constant (1982) dollars,
total
Manufacturing
Retail trade
Merchant wholesalers
1 61
203
56
.97
51
1.61
1.66
1.65
1.59
1.58
203
56
.97
51
211
58
1.24
158
212
127
1 53
204
1 24
151
202
1 22
1 55
210
1 24
1 96
54
.92
50
1 18
.44
19
55
1 57
214
124
1 55
1 92
53
89
49
120
.44
19
56
1 97
54
.93
50
1 19
.44
19
56
1 59
1 gs
55
93
51
1 18
.44
19
55
156
214
125
53
120
.45
19
56
207
57
.98
52
1 21
.45
19
57
1 61
200
55
.95
50
1 18
44
19
56
1 55
213
123
1 16
43
19
54
157
214
124
1 55
1 93
54
89
50
1 16
43
18
54
1 56
212
1 24
1 60
1 96
55
91
51
1 22
45
20
58
1 55
213
1 23
M35
1 79
r
92
135
1 81
92
137
1 85
92
1 36
1 82
93
1 36
181
93
1 35
1 77
94
1 35
1 79
93
1 36
1 81
92
1 35
1 78
93
1 32
1 74
91
1 34
1 76
91
250716
127915
5220
11516
4909
14392
20,151
17,038
35419
22,117
10,500
122,801
33,623
2590
6,514
10635
24156
13,959
241 483
226829
115517
210835
104302
233 875
250 588
240 550
243 922
131 400
4949
1 1 ,290
4885
13666
23,580
18,158
34928
20,375
11,002
124 991
5322
1 1 ,438
4802
13506
20,094
16,887
34335
22,227
10,036
226244
109301
113,729
31,778
119,188
33,158
123510
5222
11,372
4830
13233
20,116
16,508
33610
20,735
9,962
117,040
32,300
264164
137601
5833
11 818
4984
14396
25,167
18.640
35714
21 134
11,300
126,563
33670
4304
6760
10960
26486
14523
9640
247 252
242 572
120 146
4496
11,060
4730
13068
19,325
16,601
32721
19,626
9,885
125831
5320
1 1 ,291
124 789
1 18
.44
19
55
'155
r
211
r
1.01
r
r
1.50
1 49
1 56
1 92
1 57
1 92
54
50
53
89
50
1 19
1 21
44
19
56
45
19
57
r
.88
r
r
^ 55
210
1 23
r
r
r
1 52
203
1 21
1 33
1 78
1 33
1 78
88
89
MANUFACTURERS' SHIPMENTS, INVENTORIES,
AND ORDERS t
[Millions of dollars]
Shipments (not seas adj ) total
Durable goods industries total
Stone clay and glass products
Primary metals
Blast furnaces steel mills
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment
Transportation equipment
...
Motor vehicles and parts
Instruments and related products
Nondurable goods industries, total
Food and kindred products
Tobacco products
Textile mill products
,
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
c
• hioments (seas adi \ total
By industry group:
Durable goods industries total #
Stone clay and glass products
Primary metals
Blast furnaces steel mills
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment ...
Transportation equipment
Motor vehicles and parts
Instruments and related products
Nondurable goods industries total #
Food and kindred products
Tobacco products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
See footnotes at end of tables.
2 873 502
2 821 699
1 468 644
63468
146,052
62121
163053
256,344
194,849
367 927
214,964
123,777
1 422 578
57103
129969
54876
156877
242,835
199,544
363218
206,379
123,945
1,399,121
387,050
32273
67,756
124367
289 039
160391
103602
1,404,858
384,009
29923
65,951
131 444
288184
172589
101 398
9413
240 912
122771
4,801
10,948
4699
13572
20,327
16,881
33,222
19,405
10451
118141
32,539
2,721
5987
10,431
24,381
13,135
9,000
122547
4798
10,685
4506
13421
19,579
17,751
32,960
19,201
10,751
118,936
32,749
3682
6,116
10,114
23035
13,690
8358
240 980
4012
4136
9,548
10361
4600
11 602
16,941
14,694
25928
15,964
9,035
4117
12118
21,713
17,666
28,237
13,583
11,118
111,312
31,791
3025
5,332
9,948
22598
12,425
7745
232 730
106,533
29,318
1 734
5,131
10,023
23298
11,037
8285
233 247
116,869
4,684
10,620
4573
13084
19,731
17,201
28,778
16,716
10,255
115861
32,369
2,504
118,698
4,785
10,857
4698
13043
20,194
16,531
30,003
17,309
10130
114549
31,648
2,689
5901
5812
5917
5917
10,311
23,842
13,266
8,812
10,367
23,725
12,474
8,666
10,293
23,989
11,576
8,948
10,373
23,993
12,382
8,963
122,814
4,771
10,845
4609
13624
20,463
17,210
32,495
18,679
10569
118166
32,760
3,190
S-3
2013
3241
1849
5,759
10437
24040
11 259
8945
237898
6,264
10615
25282
11 690
9288
5,917
10280
25426
12831
240 684
241 749
123503
4,952
10,948
4689
12957
20,871
17,249
32,617
19,128
10331
117181
32.392
2,720
6036
10,407
24,047
12,749
9,038
123483
5,094
11,112
121 991
4,850
11,066
4764
13077
20,055
16,811
32,604
18,812
10276
115907
32,219
2,576
9195
4713
13136
20,616
17,184
32,488
19,472
10461
118266
33,186
2,111
6043
10,387
24,502
13,213
8,978
118,931
33567
2484
6002
10227
25185
13546
9060
241 479
122344
5184
11,223
4665
13044
20622
17,157
31,880
19,775
10106
119135
32,940
2,165
6033
10,386
24,958
13,640
8,790
4731
13411
21 622
17,293
32,835
19,515
10472
121 421
32390
3,522
5371
10401
4301
12192
18,219
16,162
24811
13562
9,236
116,943
31 393
2351
5374
10438
24088
14283
8653
247216
5518
11,166
4640
13395
21 050
18,143
31,574
19,035
10161
122427
32,666
3,304
6173
6198
10,503
25.315
14.399
8,890
10,668
25,458
14,205
8,989
r
262 873 256175
122149 r134183
131 489
r
5832
6044
6108
11 132 r1 1,333 11 417
r
4882
4660
4765
13488 r 14 241 14263
19,503 r 23,179
20,826
20,006
17,158
18,506
30917 "r 33 010 35283
19,317
19,562
23284
9,786 r1 1,276 10,172
120,423 r 128,690 124,686
32745 r 35 532 34376
1 994 M053
2268
r
6,447
6,792
6451
r
10758
10711
10548
r
24672 26 118 24328
13926 M4190
14257
r
8959
9146
9199
r
241 014 245 838 244 023
123364
5428
10,921
4628
13400
20924
17,293
31,673
19,494
r
r
8,791
5535
10,878
M656
5569
10733
13 455
21 ,060
18,1 99
r
31 ,579
13299
20834
18444
32190
19,879
10099
r
r
r
r
r
10118
117650
32,662
2,045
6084
10,502
24,637
13,111
125 346 124923
r
r
19,005
10565
4601
120 492 119 100
r
33.560
r
3,493
6143
r
10,456
r
24,862
r
12,898
" 8,763
r
33140
2,426
5955
10.332
24,422
13,083
8,750
Nov.
SURVEY OF CURRENT BUSINESS
December 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1963-91
Annual
1990
|
1991
1991
Oct.
Nov.
1992
Dec.
Jan.
Feb. |
Mar. |
Apr. [
May J^
June |
July ]_
Aug. j
Sept.
Oct. |
Nov.
1. GENERAL BUSINESS INDICATORS-Continued
MANUFACTURERS' SHIPMENTS, INVENTORIES,
AND ORDERS-Continued t
[Millions of dollars]
Shipments (seas, adj.)—Continued
By market category:
Home cioods and aooarel
Machinery and equipment
Automotive equipment
173073
646,854
462,558
110302
178,379
181 320
648,872
457838
103971
169,189
15813
54,449
39,835
15412
16799
54,006
39548
9900
15311
r
17075
" 56,374
r
40,448
r
9635
r
15 736
17139
54,750
40,329
9944
15460
r
79 258
79387
r
7255
39505
31 839
7666
16275
53,811
39934
9526
15073
16314
54,288
39,299
9723
15226
16497
54,600
38751
9808
15249
16492
56,216
40895
14,390
15925
53,275
39,015
9424
14875
15726
53,645
37,078
14441
9691
17112
56,533
39905
9569
15434
15946
52,913
37,841
8659
14,489
16085
55,051
39925
9429
14594
8615
9717
Other materials, supplies, and intermediate
products
Supplementary series:
Household durables
Capital goods industries
Nondefense
DefensG
962115
928 029
78786
78133
76064
77041
78223
78842
79566
79415
80983
80736
78972
78356
468,590
363718
104 872
80036
467 572
365708
101 864
6943
40,170
31 509
7107
6851
7030
40244
31950
8294
7094
39282
30896
8386
38443
30603
7840
6960
40887
32830
8057
7353
39923
31 847
8076
7194
38,417
30168
8249
6854
39,668
30930
8738
7018
40216
31 643
8573
6725
37,692
29422
8270
Inventories, end of year or month:
Book value (non-LIFO basis), (unadjusted), total
Durable goods industries, total
Nondurable goods industries, total
392,493
254508
137,985
379,926
241 915
138,011
388,727
249622
139,105
387,971
248831
139,140
379,926
241,915
138,011
383,927
244 639
139,288
385,716
245 863
139,853
383,614
244 207
139,407
384,499
244 122
140,377
385,623
244 562
141,061
381,008
241 110
139,898
383,467
241 616
141 851
386,989 " 383,1 05 384,066
243 425 r239 697 239 289
143,564 r 143,408 144,777
398,851
386 043
388,555
388,279
386,043
384,434
383,255
383,239
382,206
383 286
382854
383 491
385,596
259,746
8,162
22195
10961
24,551
49,118
32,544
76,931
13070
25,643
246,966
8,006
20187
9995
22,693
46,406
30,852
74,469
12806
24,636
249,738
7,902
20619
10132
22,937
47,634
31,172
75,177
12839
24,812
249,202
8,000
20427
10049
22,998
47,205
31,070
75,404
13022
24,562
246,966
8,006
20187
9995
22,693
46,406
30,852
74,469
12806
24,636
245,754
7,948
19875
9853
22,939
46,110
31,002
73,673
12366
24,362
244,395
7,966
19751
9870
22,791
45,613
31,006
73,263
12297
24,166
243,787
7,919
19896
9858
22717
45,324
30,977
73,028
12387
23,999
242,512
7,903
19864
9737
22750
45,122
30,919
71,892
12336
23,890
242,447
7,924
19835
9748
22982
45,057
30,871
71,531
12284
23,874
241,891
7,955
19835
22973
44,845
31,009
70,889
12284
23,918
241,258
7,941
19833
9828
23258
44,906
30,895
70,146
12230
23,920
242,036 '•240,550 239,417
7,917
8,023
'7,981
19974 r 19 885 19712
r
9823
9697
9685
23310 r23,172
22948
45,161 "45,089
44,986
31,097 r 31 ,021
30,698
69,527
70,330 r 69,431
12483 r 12 627 12471
23,867 r23,814
23,497
72,697
122,564
64,485
67,645
117,575
61,746
68,264
118751
62,187
67,002
115,848
61,545
66,542
115330
61,915
66,535
114004
61,973
66,735
113727
61 985
67,304
112540
62047
66,800
111 644
62814
67,304
111,741
62,991
139,077
30,038
6,408
8623
13,532
34,082
11,286
11,120
139,077
30,032
6,236
8,588
13,508
34,050
11,722
11,182
67,645
117,575
61,746
139,077
30,038
6,406
8,623
13,532
34,082
11,286
11,120
67,566
116,593
61,595
139,105
28,857
5,946
8,822
13,448
33,405
13,236
11,800
68,562
118,868
62,308
138,817
30,012
6,433
8,708
13,426
33,747
11,660
11,164
138,680
29,857
6,472
8,721
13,630
33,750
10,887
11,123
138,860
29,951
6,519
8,752
13,599
34,003
10,826
10,980
139,452
30,260
6,499
8,750
13,634
33,924
11,118
10,891
139,694
29,849
6,630
8,763
13,738
33,997
11,206
10,910
140,839
30,309
6843
8,849
13,759
34,033
11,473
10,957
140,963
30,531
6460
8,942
13,554
33893
11,823
11,077
142,233
30,558
9,032
13,631
34221
12,071
11,112
143,560
30,713
6,913
9,093
13,744
34,733
11,985
11,195
51,603
22,434
65,068
51890
22,002
65,185
51811
22,449
64,557
51 440
22101
65,536
51 890
22,002
65,185
51 608
22218
64,854
51 555
22352
64,953
51 750
22374
65,328
51 880
22578
65,236
52060
22611
66,168
52528
22645
65,790
52962
22643
66,628
52782
22957
67,821
26,916
56,675
91 328
6,853
23,529
27,067
57711
89997
6624
22,392
26,505
57859
90465
6553
22,536
26,743
57788
90413
6649
22,591
27,067
57711
89997
6624
22,392
27,545
57190
89853
6535
22,324
27,725
57482
88880
6456
22,453
27,933
57918
88071
6499
22,613
28,168
57963
87593
6403
22,730
28,510
58697
87404
6*347
22,919
28,874
58329
87332
6340
23,060
29,014
59073
87218
29,143
59612
88 196
6318
6431
23,062
22,998
132718
126 107
127404
127 285
126107
125404
125159
125 105
124832
125298
125430
13,277
127422
87,194
40228
2 885 005
1 479 884
1,405,121
2,885,005
12714
121 587
85357
36230
2 805 293
1 404 750
1 400 543
2,805,293
12512
123500
85988
37512
246 333
124100
122233
238,542
12654
122951
85880
37071
238 726
120173
118553
238,679
12714
121 587
85357
36230
224 698
113420
111 278
229,925
12876
120910
85239
35671
213117
106539
106578
232,467
12834
119706
84297
35409
230 845
116923
113922
233,388
12848
119029
83535
35494
249 552
129515
120 037
237,606
12857
117709
83020
34689
239643
122551
117092
240,771
12946
117415
82701
34714
240 441
121 808
118633
238,696
13046
116476
82312
34 164
259174
132795
126379
244,542
1,479,884
146,569
62,620
71,357
161,289
255,709
194,958
383,142
140,080
1,404,750
127631
53,713
63,264
155748
238988
198,231
357,473
126,216
120,227
10699
4,712
5,081
13369
19,660
16,817
31,643
10,246
120,343
10712
4,276
5,572
13426
19771
17,070
32,415
12,228
118,011
10125
4,056
5,138
13266
20,447
16,824
28,767
9,420
117,750
11 216
4,751
5,601
13,043
19,973
16,571
29,100
8,102
120,187
10632
4,636
5,014
12732
20623
16,738
31,191
10,322
122,393
11 061
4,706
5,410
12594
20141
17,170
32,984
10,535
119,808
11 117
4,648
5,382
12645
20078
17,081
30,810
8,886
1,405,121
350,008
1 055113
1,400,543
341,602
1 058 941
118,315
28,914
89401
118,336
28,734
89602
113,921
10,143
3,935
5,239
13,009
19,195
17,571
27,628
9,290
116,004
28,477
87,527
114,456
27,769
86687
115,638
27,755
87,883
117,419
28,575
88844
118,378
28,495
89883
173,396
646681
485646
109981
178,313
182,049
648860
448541
104138
169,809
16,006
54,505
38560
9672
14,392
16,185
54988
41 266
9384
14,344
16,003
53,581
34716
8,556
14,416
15,720
52,957
37497
8,670
14,613
15,762
53,264
37772
9,438
14,790
15,862
53,795
39828
9487
14,991
959719
926 755
77485
78193
75066
76831
77830
77847
481 626
386723
94.903
80283
452000
358342
93.658
7082
37914
29453
8.461
7111
6937
35394
26969
8.425
6643
38 168
30093
8.075
6826
35589
29463
6.126
Book value (non-LIFO basis), (seasonally
adjusted), total
By industry group:
Durable goods industries, total #
Stone, clay, and glass products
Primary metals
Blast furnaces steel mills
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment
Transportation equipment
Motor vehicles and parts
Instruments and related products
By stage of fabrication:
Materials and supplies
Work in process
Finished goods
Nondurable goods industries, total # .;
Food and kindred products
Tobacco products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
By stage of fabrication:
Materials and supplies
Work in process
Finished goods
By market category:
Home goods and apparel
Consumer staples
Machinery and equipment
Automotive equipment
Construction materials and supplies
Other materials, supplies, and intermediate
products
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense
New orders net (unadj.), total
Durable goods industries total
Nondurable goods industries, total
New orders, net (seas, adj.), total
By industry group:
Durable goods industries, total
Primary metals
Blast furnaces, steel mills
Nonferrous and other primary metals
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment ...
Transportation equipment
Aircraft, missiles, and parts
Nondurable goods industries, total
Industries with unfilled orders $
Industries without unfilled orders 0
By market category:
Home goods and apparel
Consumer staples
Machinery and equipment
Automotive equipment
Construction materials and supplies
Other materials, supplies, and intermediate
products
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense
See footnotes at end of tables.
8661
38012
33066
4.946
9816
6751
7248
MO 362
r
32 033
r
8329
38916
31 173
7743
r
r
384,390
'•67,296
110,652
62,602
66,283
111 043
62,091
143,840
'30,595
r
6,701
'9,113
r
13,768
r
34,980
r
1 1,859
r
11,317
144,410
30,824
6,820
9,139
13,842
35,230
11,611
11,387
r
r
383,827
r
52914
23 075
'67,851
53020
23048
68,342
'29,176
'59418
'88 201
'6478
'22,913
29,176
59927
87940
6454
22,744
125705
126331 '126265
125772
13046
115812
82130
33682
222388
105043
117345
242,307
13061
115996
83091
32905
236 506
116081
120425
236,880
12916
114304
82756
31 548
254843
130448
124395
244,003
123,164
11 505
4,852
5,631
13210
21 239
17,477
31,391
9,921
119,861
11 288
4,635
5,740
12906
20678
18,157
27,610
7,089
118,888
28,225
90663
121,378
28,689
92689
122,446
29,409
93037
119,376 '119,801 124,659
11 147
'9885
10301
4,594
'4,317
4,418
5,571
4,874
'4,667
13142 '13860
13550
20547 "21 ???
20810
17,343 '18,488
18,775
32,097
28,399 '26,814
7,367
10,265
'6,569
117,504 '120,150 119,344
27,964 '28,160
29,087
89540 '91 990 90257
16,477
54294
38249
9775
15,313
16,347
54593
39213
9822
15,209
16,814
56209
39210
9700
15,396
17,192
56580
37781
9544
15,379
16,900
53997
36984
9874
15,283
'16,938
'56 386
'38810
'9621
'15,786
17,542
54790
40205
9906
15,540
77812
79674
78174
80143
80242
78473
'78269
79142
6714
7269
38002
29901
8.101
6905
36323
30469
5.854
6952
38 120
30953
7.167
7388
34926
29296
5.630
7161
'7266
'35741
'30571
'5.170
7528
39018
31 712
7.306
38893
32163
6.730
34615
28153
6.462
r
'12946
'114534
'82 936
'31 598
'256610
'128327
'128283
'239,951
:::=
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1953-91
Annual
1990
December 1992
1991
1991
Oct. |
Nov.
•
S-5
1992
Dec.
Jan. |
Feb. |
Mar.
Apr.
May
June |
July |
Aug.
Sept.
Oct. |
Nov.
1. GENERAL BUSINESS INDICATORS-Continued
MANUFACTURERS' SHIPMENTS, INVENTORIES,
AND ORDERS-Continued ft
[Millions of dollars]
Unfilled orders, end of period (unadjusted), total
Durable goods industries, total
Nondurable goods industries with unfilled orders $ .
Unfilled orders, end of period (seasonally adjusted)
total
By industry group:
Durable goods industries, total #
Primary metals
Blast furnaces steel mills
..
Nonferrous and other primary metals
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment
Transportation equipment
Aircraft, missiles, and parts ...."
Nondurable goods industries with unfilled
orders $
By market category:
Home goods and apparel
Consumer staples
;
Machinery and equipment
Automotive equipment
Construction materials and supplies
Other materials, supplies, and intermediate
products
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense
r
518,671
497 552
21,119
502 265
479 724
22541
507153
484195
22958
504396
481 821
22575
502 265'
479 724
22541
504547
481 961
22586
501,517
478738
22,779
500481
476 853
23628
499 574
475 894
23680
496,093
472711
23,382
491,103
467 905
23,198
487,247
463647
23,600
481,181
457 579
23,602
521811
505 631
510737
508 436
505 631
504 851
500 341
497 263
496 285
493 502
490792
485 883
481 749
499,828
24176
10974
25,603
57,185
43612
275248
238,202
482,208
21 784
8738
10072
24,469
53,398
42 307
269 367
234,666
487,627
22394
9709
9773
24,742
54,626
42077
270 597
234,578
485,156
22261
9376
10031
24,544
53,934
41 937
270517
235,285
482,208
21 784
8738
10072
24,469
53,398
42307
269 367
234,666
481,521
21052
8096
10011
24,692
53,651
42600
268131
233,529
477,280
21,202
8,083
10307
24,658
53,569
42360
264627
230,162
473,964
20886
8030
10056
24,433
53,321
41849
263 201
229,522
472,874
20835
8023
10047
23,891
52,846
41835
263 697
229,303
470,338
20,729
8,006
9873
23,492
52,302
41,759
262 627
228,277
467,671
20,943
8,127
9958
23,291
51,919
41,943
261 183
227,160
462,743
21,065
8,122
10,125
22,802
51,547
41,957
257219
224,107
458,755 r r453,210
21 291 20,298
r
7,749
8,088
r
9805
10383
r
22,544
22,949
51,170 "51,332
42007 r '42,296
253945 249 180
221,668 ''218,154
21,983
23,423
23,110
23,280
23,423
23,330
23,061
23,299
23,411
23,164
23,121
23,140
10,076
1,244
214,466
1 689
14004
9,699
1,372
215,486
1 793
14229
9,799
1,308
216,827
1 748
13978
10,076
1,244
214,466
1 689
14004
9,850
1,288
214,121
1,701
14128
9,687
1,276
212,879
1,715
14043
9,274
1,260
212,773
1,676
13961
9,437
1,266
211,722
1,727
14048
9,286
1,259
212,185
1,741
14007
9,608
1,253
210,500
1,725
13991
123368
124,305
124,367
123,368
123,158
122,765
121,734
121,843
120,604
5479
380218
237 480
142738
5691
377 920
235 027
142893
5483
377671
234 952
142719
5455
373,592
233 485
140,107
372 241
233698
138543
370,961
232 703
138258
46419
54165
52951
52898
59940
57469
52917
55065
62282
57403
58111
54462
7167
8485
2255
1867
1 137
1 044
669
562
6915
1 652
1 357
16953
632
552
6075
87 750 6 101262 52601
r
8683 1 1488
47 721 7
2004
2292
38936
1 2522
2970
11 1033
3706
2277
69843
777.1
178.9
39100
6546
1 707
864
545
8550
8059
2215
2201
9918
9,150
1,257
223,822
1 519
13375
124,677
•
393 439
242 409
151 030
377 920
235027
142 893
5475
382422
236 057
146365
643022
628 567
54000
53892
5261
5691
5139
5314
22,994
r
r
474,91 8 473,586
451 ,723 450,682
r
22,904
23,195
475 862 475,842
452,946
19,866
7,566
9540
23,200
51,308
42,627
249 087
218,390
'22,652
22,896
9,689
1,299
208,375
1,700
13935
'9,653
9,790
'1,302
1,290
205,811 '204,174
1,674
'1,660
13907 '13,957
10,057
1,342
204,049
1,622
14,038
119,762
119,270
118,771 '117,782
117,536
368,841
232 569
136272
5,193
366,074
230 692
135382
5228
361,077
228141
132,936
'5,213
356,776 '352,155
225121 '223,659
131 655 '128,496
5,486
351,668
223,532
128,136
52,664
48673
58,248
58718
5201
5195
BUSINESS INCORPORATIONS @
[Number]
New incorporations (50 States and DC):
Unadjusted
Seasonally adjusted
INDUSTRIAL AND COMMERCIAL FAILURES @
[For failures, number; for liabilities, millions of dollars]
Failures total
Commercial service
Manufacturing and mining
Retail trade
Wholesale trade
Liabilities (current) total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
Failure annual rate number per 1 0 000 concerns
60432
16063
8072
5090
12826
4376
64 044 1
67673
29052
68297
7*7160
24148
87 113
22644
11 783
1282
436
66599
23729
2809
331 5
6870
545.0
1 108
729
1 723
685
84457
26607
219.0
6209
1590.8
552.8
1 043
654
1 628
613
68392
1 3836
169.8
5341
24446
230.5
9102
7741
8437
8643
2,257
2507
2473
2,196
1 057
1 157
1 179
1 110
570
648
728
626
1 635
1 832
1 683
1 430
491
567
617
565
63257 7881 2 120202 139320
1,057.6
1 026.1
6296 2,551.7
197.9
190.3
385.6 2,756.9
6696 19383
5209
1804
515.5
635.9
483.3
799.6
4,499.7
125.4
262.9
95.2
7923
7522
2,114
943
572
1 432
525
3,215.7
744.6
138.0
169.3
346.3
206.6
8,580
2,406
1 091
629
1 628
586
35750
997.2
320.3
3254
345.8
231.7
9 031 .7
732.1
159.1
1,901 0
1,394.6
1,74010
630
506
681
467
369
354
566
1,348
633
505
773
454
348
339
599
1,439
631
'633
506
778
444
343
358
589
1,587
'501
'826
'445
'330
'358
'581
'1,582
760
820
996
267
768
826
1,007
272
762
826
994
273
'1,016
273
2317
973
611
1 573
551
750
2. COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS t
[1910-14=100]
Prices received, all farm products
Crops #
commercial vegetables
Cotton
Feed grains and hay
Food grains
Fruit
Tobacco
Livestock and products # ..
Dairy products
Meat animals
Poultry and eggs
Prices paid:
Production items
All commodities and services, interest, taxes, and
waoe rates (parity index)
Parity ratio §
1483
666
561
677
553
371
316
992
1 559
651
544
579
529
363
351
1,007
1,548
636
538
764
514
365
370
802
1,582
626
521
565
469
368
390
771
1,570
630
532
682
436
377
400
766
1,530
649
552
826
419
388
424
778
1,521
653
565
972
421
389
417
754
1,700
820
837
1 088
298
776
747
1 047
282
762
826
997
274
737
844
940
270
735
844
935
271
732
826
941
263
750
789
997
254
745
764
998
254
681
548
707
548
388
338
694
993
644
546
729
439
391
408
780
1,409
747
764
1,002
253
643
533
613
441
393
407
753
1,409
758
789
1,011
257
640
528
600
480
390
382
718
1,409
757
807
1,000
259
'772
'820
1 005
1,011
1,009
1 314
1,322
1,324
49
48
48
626
500
724
427
327
373
629
1,582
r758
813
981
290
988
1 003
998
1 265
1 299
1 298
54
51
50
49
48
48
129.0
134.3
135.4
135.8
135.9
136.0
136.4
137.0
137.3
138.4
138.8
139.1
139.6
139.8
1362
137.4
137.8
137.9
138.1
138.6
139.3
139.5
137.8
139.7
138.1
1307
140.2
140.5
140.9
141.3
141.8
142.0
135.0
138.0
135.2
135.0
138.1
135.3
135.1
138.3
135.5
135.5
138.8
135.9
136.2
139.5
136.5
136.6
139.7
136.7
136.9
140.1
136.9
137.2
140.7
137.4
137.3
141.1
137.6
137.7
141.4
138.0
138.4
141.8
138.4
138.9
142.4
138.8
139.2
142.7
139.0
1303
CONSUMER PRICES
[1982-64=100]
Not seasonally adjusted:
All items, wage earners and clerical workers (CPIAll items all urban consumers (CPI-U)
Special group indexes:
All items less shelter
All items less food
All items less medical care
See footnotes at end of tables.
128.2
130.3
128.8
133.5
136.1
133.8
134.6
137.7
134.9
SURVEY OF CURRENT BUSINESS
S-6 • December 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
1991
Annual
1990
|
1991
Oct. |
1992
Nov.
Jan. |
Dec.
Feb.
Mar.
Apr.
May |
June |
July |
Aug. |
Sept. |
Oct. |
Nov.
2. COMMODITY PRICES-Continued
CONSUMER PRICES-Continued
[1982-64=100, unless otherwise indicated]
Not seasonally adjusted-Continued
All items (CPI-U)-Continued
1228
126.0
119.9
113.4
1174
1392
1266
130.3
124.5
116.0
121 3
146.3
1272
131.0
126.1
116.3
1224
148.1
1278
131.5
126.7
117.0
1230
148.3
1275
131.1
125.5
117.2
1224
148.8
1272
130.6
124.2
117.4
121 6
149.6
1276
131.1
124.9
117.6
1221
1501
1284
132.1
126.2
117.9
1230
1507
1288
132.4
126.8
118.2
1235
1508
1291
132.8
128.0
118.4
1244
1509
1292
132.8
128.1
118.5
1245
151.7
1290
132.5
127.8
118.6
1243
152.5
1293
133.0
127.9
118.5
1243
153.0
1299
133.8
129.1
118.5
125.1
153.2
1303
134.2
129.8
119.2
125.7
153.7
130.5
134.2
129.8
120.0
126.1
154.0
Food*
Food at home
132.4
1323
136.3
1358
135.8
1344
136.2
1350
136.7
1355
137.2
1364
137.5
1366
138.1
1375
138.1
1374
137.4
1362
137.4
1361
137.2
1357
138.0
1369
138.5
1374
138.3
1372
138.3
137.0
Housing
Shelter # .
Rent, residential . . .
Homeowners' cost, Dec. 1982=100
Fuel and other utilities #
Fuel oil and other household fuel
commodities ... .
Gas (piped) and electricity
Household furnishings and operation
128.5
1400
1384
144.6
111 6
133.6
1463
143.3
150.2
1153
134.7
147.7
144.6
152.1
1157
134.7
1479
145.0
152.6
1153
135.0
1482
1452
153.0
1160
135.7
1492
145.4
153.2
1162
136.1
1498
1456
153.5
1159
136.6
1504
1464
154.1
1158
136.5
1502
1462
154.2
1158
136.7
1502
1463
154.4
1168
137.7
151 1
146.6
155.0
1190
138.3
151 8
1470
155.5
1194
138.6
1523
147.0
155.8
1194
138.4
151.9
147.2
156.0
1198
138.5
152.5
148.0
156.8
1185
138.5
152.4
148.6
157.2
118.3
993
946
909
948
947
920
915
905
899
898
901
900
897
109.3
113.3
112.6
116.0
112.9
116.4
111.2
116.5
112.4
116.3
112.8
116.7
112.0
117.3
111.5
117.7
111.3
118.0
113.0
117.9
117.4
118.2
117.6
118.4
117.5
118.3
89.7
118.5
118.3
91.4
115.4
118.4
92.1
114.8
118.5
Apparel and upkeep
Transportation
Private
New cars
Used cars
Public
Medical care
1241
1205
1188
1210
1176
1426
1628
1287
1238
121 9
1253
1181
1489
1770
1327
1240
1224
1250
1202
1449
1807
1329
1250
1234
1266
1206
1470
181 8
1296
1253
1234
1276
1201
1498
1826
1279
1245
1225
1280
1178
151 5
1843
1302
1241
1220
1281
1161
1507
1862
1334
1244
1222
1282
1157
1535
1873
1333
1252
1229
1282
1179
1547
1881
1331
1263
1243
1284
1205
151 6
1887
131 0
1269
125.4
1282
1231
1453
1894
1292
127.2
125.5
1278
124.8
1483
1907
1302
126.9
125.4
1276
126.4
1467
191 5
1333
126.8
125.4
127.4
127.7
1456
1923
1350
128.0
126.1
128.2
129.1
1529
1933
1345
129.2
127.0
129.7
129.9
1574
1943
154
U2
Nondurables
Nondurables less food
Durables
Commodities less food
Services . . .
Seasonally adjusted
All items, percent change from previous month or
year
Commodities
Commodities less food
Food
Food at home
Apparel and upkeep
Private
New cars
Services
2
4
2
1
3
5
2
1
3
1
.3
.2
.4
.2
127.1
1221
1364
1352
127.6
1226
1370
1359
127.6
1224
1374
1364
127.3
1221
136.8
135.4
127.8
1227
1372
1360
128.5
1234
1379
1370
1286
1236
1378
1367
1288
1241
1373
1358
129.2
1246
137.5
135.9
129.3
1249
137.3
135.6
129.7
1249
138.5
137.3
130.0
1251
139.1
138.1
130.3
1255
139.1
138.2
130.4
125.7
139.1
138.0
1303
131 1
1296
130.0
131 9
1327
1318 - , 1323
1320
131.8
131.8
132.1
132.5
132.6
1240
1225
1262
1245
1229
1263
1248
1230
1265
1244
1224
1266
1242
1223
1267
1251
1230
1272
1257
1235
1278
1261
1242
1280
126.7
1254
1285
127.3
1258
1286
127.2
1259
1291
127.2
1259
1296
128.0
1262
1293
128.6
1265
129.5
1481
1486
1492
1497
1500
1507
151 2
151 4
151 8
1522
1526
1528
1537
1543
116.4
1164
1159
115.6
1160
116 1
1163
1172
118.0
117.9
117.6
117.8
118.1
117.6
PRODUCER PRICES §
[1982=100 unless otherwise indicated]
Not seasonally adjusted:
All commodities
By stage of processing:
Crude materials for further processing
Intermediate materials, supplies, and
components
Finished goods #
Finished consumer goods
Capital equipment
By durability of product:
Durable goods
Nondurable goods
Total manufactures
Durable manufactures
Nondurable manufactures
1163
116.5
r
108.9
101.2
99.9
99.7
97.7
96.9
98.6
97.9
98.8
101.2
102.1
-101.7
100.9
102.0
101.8
101.5
114.5
1192
1182
1229
114.4
1217
1205
1267
114.2
1222
1208
1279
114.0
1223
1209
1279
113.7
121 9
1203
1280
113.2
121 8
1200
1286
113.5
1221
1203
1287
113.6
1222
1204
1289
1138
1224
1207
1291
1145
1232
1217
1290
115.4
1239
1226
1289
r
115.5
1237
1224
r
1288
115.3
1235
1222
1288
115.6
1233
1221
1280
115.4
1243
1228
1301
115.1
1239
1223
1300
121.2
1122
118.1
120.7
1152
122.9
111 7
119.0
122.7
1152
123.3
111 3
119.2
123.3
1150
123.2
111 3
119.2
123.2
1152
123.2
1105
118.8
123.2
1144
123.6
1098
118.7
123.6
1138
123.9
1103
119.1
123.8
1143
124.2
1101
119.2
124.1
1143
124.3
1106
1197
124.2
1151
124.4
1120
120.3
124.2
1163
124.3
1133
120.6
124.2
1170
124.3
1131
120.5
124.2
1167
124.2
1127
120.3
124.1
1164
123.9
1133
120.3
123.8
1167
124.8
1131
120.9
124.8
1168
124.7
1127
120.7
124.7
1166
Farm products, processed foods and feeds
Farm products
Foods and feeds, processed
118.6
112.2
121.9
116.4
105.7
121.9
115.1
101.5
121.9
114.8
101.6
121.4
114.5
100.6
121.4
115.2
1028
121.3
116.3
105.5
121.7
116.7
106.4
121.8
115.8
103.2
122.0
117.0
105.8
122.5
116.9
104.7
123.0
115.8
102.5
122.4
115.3
102.1
121.9
115.3
101.6
122.1
115.2
102.6
121.5
114.9
102.0
121.4
Industrial commodities
1158
1165
116.7
1167
1161
1157
1160
1159
1164
1173
1182
r
118.3
118.1
118.3
118.6
1183
1236
82.2
119.1
141.7
1297
1207
123.0
114.7
141.3
113.6
114.9
121.5
118.2
1256
81.2
121.2
138.9
1320
1230
1203
1172
143.0
1152
116.3
126.4
122.1
1249
81.3
121.4
136.3
1332
123.0
119.3
117.4
142.6
114.7
116.7
129.1
125.8
1249
81.2
121.4
137.1
1334
123.1
118.9
117.2
142.8
114.6
116.8
128.9
125.4
1250
79.1
121.5
137.6
1346
1232
118.7
117.1
142.7
114.7
116.9
129.0
124.9
1246
76.3
121 8
138.6
1376
1233
1182
1172
144.1
114.7
117.4
129.8
124.8
1245
76.8
121.8
139.0
1429
1235
118.9
117.1
144.2
114.3
117.6
129.7
124.6
1244
75.8
1219
139.8
1457
1236
1194
1173
144.4
114.3
117.7
130.0
124.9
1248
77.1
1220
139.9
1475
1234
1196
1169
144.9
1146
117.8
130.2
124.8
1252
79.7
1221
140.7
1476
1234
1195
1169
145.2
1149
117.7
130.2
124.7
1260
83.2
1222
140.8
1463
1232
1196
1170
145.1
1150
117.9
130.1
124.3
r
1264
'83.3
r
122.2
-140.1
r
1453
1231
120.0
117.1
145.2
r
115.2
-117.8
-1302
124.4
1269
82.8
122.1
140.7
1449
1231
120.2
117.3
145.3
115.3
118.1
129.6
123.9
1265
84.0
122.2
140.8
1484
1232
119.6
117.4
145.8
115.8
118.0
128.1
121.1
1270
83.3
122.2
140.8
1485
123.3
118.9
117.5
146.0
115.6
118.2
132.0
126.9
1275
82.3
122,5
140..5
1492
1232
1182
1177
145.8
1157
117.9
131.9
126.9
1
1
1005
1004
983
973
990
973
983
1000
101 7
r
101 5
101 0
1026
1025
1023
114.0
1221
1208
1233
1196
1244
1161
127.3
114.0
1222
1209
1231
1198
1246
1162
127.5
113.9
1221
1207
1230
1195
1247
1158
127.7
113.2
121 9
1202
1225
1190
1254
1149
1283
113.7
1222
1206
1237
1192
1252
1152
128.4
113.8
1224
1208
1231
1196
1258
1156
1288
1140
1228
121 1
1227
1202
1259
1164
1291
1145
1231
121 6
1225
1209
1258
1175
1292
115.3
1234
1220
1228
1214
1254
1184
1291
r
115.2
1235
1220
123.4
121.2
1262
1177
129.4
115.4
123.9
1225
123.9
121.6
1261
1184
129.4
115.3
124.0
1227
t24.0
121.9
125'
1193
129.2
115.1
123.7
1223
1234
121 6
1256
1186
1293
Chemicals and allied products
Fuels and related prod., and power
Furniture and household durables
Hides, skins, and leather products
Lumber and wood products
Machinery and equipment
Metals and metal products
Nonmetallic mineral products
Pulp, paper, and allied products
Rubber and plastics products
Textile products and apparel
Transportation equipment #
Motor vehicles and equipment
Seasonally adjusted:
Finished goods, percent change from previous
month or year
By stage of processing:
Crude materials for further processing
Intermediate materials, supplies, and
components
Finished goods #
,
M9
r
r
1
2*(
Foods
Finished goods, exc. foods
Durable
Nondurable
Capital equipment
115.3
1234
121 9
r
122.5
121.4
1259
1181
r
129.2
-2
PURCHASING POWER OF THE DOLLAR
As measured by:
Producer prices 1982=$1 00
Consumer prices, 1982-84*$1.00
See footnotes at end of tables.
839
822
818
818
820
821
819
818
817
812
807
808
810
811
804
807
.766
.734
.728
.726
.725
.724
.722
.718
.717
.716
.713
.712
.710
.708
.705
.704
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, i963-9i
Annual
1990
December 1992 •
1991
Oct. | Nov.
| 1991
S-7
1992
Dec.
Jan.
Feb.
Mar. |
Apr. | May
June
July
Aug. |
Sept. |
Oct. | Nov.
3. CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE $
[Millions of dollars]
New construction (unadjusted), total
Private total #
Residential
New housing units
Nonresidential buildings, except farm and public
utilities total #
Industrial
Commercial
Public utilities:
Telecommunications
Public total #
Buildings (excl. military) #
Housing and redevelopment
Industrial
Military facilities
Highways and streets
[Billions of dollars]
New construction (seasonally adjusted at annual
rates) total
Private total #
Residential
New housing units
Nonresidential buildings, except farm and public
utilities, total #
Industrial
Commercial
Public utilities:
Telecommunications
Public total #
Buildings (excl. military) #
Housing and redevelopment
Industrial
Military facilities
Highways and streets
442066
334154
400956
37,490
34,250
30,303
27540
27339
30723
33,981
36,665
38,965
39,823
'40,549
'40 170
39,528
182,856
127,987
290706
157,835
110,592
26593
15,289
10,823,
24834
14,240
10,358
22143
11,965
8,718
20155
10,971
8,195
19948
10480
7,826
22626
12,424
9,299
24934
14,602
10,251
26344
15,981
10,919
28260
17,281
11,711
28462
17,686
12,085
'28 393
'17,819
'12,468
'28 169
'17,240
'12,456
28258
17,409
12,462
117,971
23,848
62862
97,841
22,280
48480
8,149
1,897
3968
7,442
1,813
3546
7,220
1,924
3305
6,328
1,568
2986
6,616
1,627
3145
7,182
1,886
3301
7,071
1,744
3268
7,127
1,768
3286
7,663
1,767
3710
7,406
1,727
3518
7,153
1,551
3432
'7,471
'1,659
'3634
7,404
1,620
3516
9,565
8,816
793
798
702
632
671
781
883
739
775
779
792
798
107912
46,208
3,498
1433
2,665
31 155
110249
50,475
3,496
1 823
1,837
29918
10897
4,536
322
133
9416
4,185
310
135
8 160
3,937
277
135
7384
3,823
285
137
7390
3,946
290
146
8097
4,167
297
162
9047
4',375
290
145
10321
4,709
266
147
10705
4,588
279
160
11 361
4,997
292
135
'12156
'5,045
'289
149
11 270
4,549
252
158
95
149
219
170
184
212
194
99?
209
190
179
3509
2456
1 865
1 395
1 353
1 478
2062
2869
3320
3451
4098
'12001
'4,786
'244
212
'206
'4100
4061
401 2
3987
4071
411 8
421 5
4276
4280
4267
4277
'4176
'4250
4293
291.7
164.7
117.5
288.3
164.5
118.0
287.4
1641
118.3
292.5
169.5
122.0
294.8
1698
123.3
301.1
1727
125.9
309.8
1826
128.8
307.0
1829
128.1
312.2
1846
128.7
307.9
1829
127.1
'300.3
'181 3
'129.2
'306.1
'1832
'131.8
309.9
1874
135.1
91.2
21 1
87.5
21 6
41 6
87.8
85.5
21 3
87.3
21 7
41 6
906
237
421
874
856
21 3
21 0
407
396
888
203
433
85.5
224
409
'795
'178
'371
'832
'189
'393
830
183
393
443
412
205
398
8.5
8.9
8.3
9.6
9.6
9.5
10.7
8.9
8.9
9.2
'89
9.1
1144
1129
51 2
1114
1146
1170
1204
1178
121 0
1198
'1173
523
3.4
16
20
302
530
35
1.8
22
327
554
36
19
25
309
532
35
17
23
314
562
32
18
27
326
1145
51 6
520
'35
18
22
31 5
542
35
1.6
23
326
'1189
'527
537
3.9
1.6
11
30.1
18
29.6
509
3.3
1.6
26
296
23 329
'97
3.7
1.6
33
19
25
173
3587
1194
'29
25
25
537
30
19
21
'333
'343
31 9
CONSTRUCTION CONTRACTS
[Millions of dollars, unless otherwise indicated]
Construction contracts (F.W. Dodge Division,
McGraw-Hill):
Valuation total
Index (mo. data seas, adj.), 1987=100 §§
Public ownership ,
Private ownership
By type of building:
Nonresidential
Residential .. .
Non-building construction
.. .
New construction planning (Engineering NewsRecord) §
245 396
'95
221 230
'89
72,090
173307
74,422
146806
90,240
105509
49645
76,898
96353
47978
r
15083
81
16277
'99
16077
'97
17038
M01
20510
98
21 746
98
19787
'88
23409
'94
21 678
'93
20170
'92
20566
'93
23836
104
r
4,240
10843
5,880
10397
5,303
10775
5608
11 429
7003
13507
6417
15329
6101
13686
7492
15917
7074
14603
6037
14133
6586
13979
7198
16638
r
8,854
9495
'4980
5,103
7427
2552
5,819
6670
3,788
5,635
6891
3551
5,649
7258
4130
5,952
9673
4885
6833
10018
4895
5893
9481
4413
8,042
10729
4638
7,073
9874
4731
6662
9167
4341
6764
9597
4205
8336
10925
4575
101.8
80.9
75.6
62.6
65.6
56.3
71.6
58.4
78.8
69.2
111 6
90.9
107.6
93.5
1152
100.2
1178
102.7
1062
93.2
1099
91.8
'1060
'91.4
'111 6
'97.2
86.0
75.9
1,085
1,085
1,118
1,180
989
933
1,196
1 019
1,100
972
1,340
1 068
1,147
907
1,257
1 109
1,086
887
999
956
1 233
1 042
M 999
'1 051
'1 224
'1 086
1242
1 100
'1 139
'959
1 122
8,141
'15188
r
213,389
HOUSING STARTS AND PERMITS
[Thousands]
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
New private housing units authorized by building
permits (17,000 permit-issuing places):
Monthly data are seas. adj. at annual rates:
Total
One-family structures
Manufacturers' shipments of mobile homes:
Unadjusted
Seasonally adjusted at annual rates
1,192.7
894.8
1,014.5
841.2
955
754
994
788
979
792
1,073
1,106
1,146
1,094
1,058
1,054
1,032
1 076
1 125
798
873
913
946
907
873
879
872
879
877
913
1883
1709
169
172
131
171
109
176
134
192
135
197
161
197
176
199
170
189
182
194
180
211
191
198
198
219
21 6
111.3
111.8
110.9
111.4
110.7
111.3
110.1
110.6
110.5
110.6
110.9
1109
111.1
111 3
111.1
111 3
111.7
1120
112.1
1126
'112.1
'1127
'112.6
'1130
113.2
1136
1,111
1,080
948
226
CONSTRUCTION COST INDEXES
Bureau of the Census, 1987=100:
Composite fixed-weighted price index *
Implicit price deflator * ..
Boeckh indexes, 1987=100:
Average, 20 cities:
Apartments hotels office buildings
Commercial and factory buildings
Residences
Engineering News-Record, 1967=100:
Building
Construction
Federal Highway Adm.— Highway construction,
1987=100:
Comoosite (ava. for vear or atr.)
See footnotes at end of tables.
110.3
1112
111.2
111.8
1087
1106
109.7
1120
1142
113.0
400.0
440.5
407.2
450.1
108.5
107.5
1130
115.7
114.3
412.3
455.4
413.2
455.8
1141
116.6
115.4
1139
116.4
115.1
412.1
455.1
100.4
412.0
455.1
410.8
454.7
414.4
458.6
102.9
1174
1177
116.9
1158
1171
116.1
415.9
460.5
418.6
462.2
420.0
462.9
110.4
421.1
464.7
1153
1178
117.4
422.4
468.5
422.8
469.4
99.9
424.4
470.3
2
2
425.2
470.9
S-8 • December 1992
SURVEY OF CURRENT BUSINESS
Annual
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
1990 |
1991
1991
1992
Nov. | Dec.
Oct.
Jan.
Feb. | Mar.
Apr. |
May |
June
7.9
86
77
83
July
Aug. |
Sept.
Oct. | Nov.
3. CONSTRUCTION AND REAL ESTATE-Continued
REAL ESTATE 0
[Thousands of units]
Mortgage applications for new home construction:
FHA applications
Seasonally adjusted annual rates
Requests for VA appraisals
Seasonally adjusted annual rates
[Millions of dollars]
Home mortgages insured or guaranteed by:
Fed. Hous. Adm.: Face amount
Vet. Adm.: Face amount §
Federal Home Loan Banks, outstanding advances to
member institutions end of period
New mortgage loans of SAIF-insured institutions,
estimated total @
By purpose of loan:
Home construction
Home purchase
All other purposes
..
115.4
51,863.74 46,990.04
15787.10
117096
2
152,230
16182
2
127,272
2
8,776
6.6
102
65
98
3,696.55 3,419.86
3,226.30
78784
79065
98.0
87
111
79065
2
80143
7.5
98
72
97
101
101
94
99
3,549.48 3,222.96 3,559.84 3,620.34
75085
75834
76275
3,910.67 4,603.26
88
101
75
94
7.1
90
4,797.76 4,588.95 4,319.72
76008
76409
76860
76194
77078
80158
143,674
12,403
12,129
15,098
13,606
15976
21,916
r
19,609
" 16,384
16,350
14,427
15,723
18,823
12261
2
125,594
2
5819
1 077
10883
412
880
10,879
365
914
13,601
582
781
12,428
397
826
14768
382
1 138
20,230
540
1 348
"17797
463
1 314
r
14 642
428
1 371
r
14,401
577
1 288
12692
447
1 110
14177
436
1 175
16,344
1,305
3,497.24 3,914.13
79349
80 954
4. DOMESTIC TRADE
ADVERTISING
[Millions of dollars]
Magazine advertising (Leading National Advertisers):
Cost total
Apparel and accessories
Automotive incl accessories
Building materials
Drugs and toiletries
Foods soft drinks confectionery
Beer wine liquors
Houshold equipment supplies, furnishings
Industrial materials
Soaps cleansers etc
Smoking materials
All other
Newspaper advertising expenditures (Newspaper
Advertising Bureau, Inc.):
Total
Classified
National
Retail
32,280
11 506
4122
16,652
6,662
2264
958
3,441
8,555
3,081
967
4,507
30,409
10567
3928
15,914
7,756
2594
1 085
4,077
WHOLESALE TRADE t
[Millions of dollars]
Merchant wholesalers sales (unadj.), total
Durable goods establishments
Nondurable goods establishments
Merchant wholesalers inventories, book value (nonLIFO basis) end of period (unadj ) total
Durable goods establishments
.'
Nondurable goods establishments
158,596
78833
79763
142,820
69291
73,529
142,864
68332
74,532
140,505
66410
74,095
134652
65541
69,111
152,557
75,970
76,587
148,832
73653
75,179
143,843
70058
73,785
152,943
77,488
75,455
152,986
75,670
77,316
149,583 "154,671
74842 "77,644
74,741 "77,027
158,563
79,458
79,105
199710
128,799
70911
196967
126 706
70261
197793
127,168
70625
199710
128,799
70911
201 522
129,586
71 936
201 586
130353
71 233
200 370
129,789
70,581
199736
130,757
68979
196558
130578
65980
198246
131,019
67,227
198806
131,735
67,071
196722 "197205
131,596 "131,127
65,126 "66,078
199372
130,137
69,235
1,825,507 1,842,739
652 951
660779
153,920
54900
157,276
52,399
182,744
58,856
140,023
49461
141,517
51 137
153,026
56,646
157,279
58882
163,840
60655
162,722
62,933
164,164
62,280
164,312 "158,771 "166,084
59,687 "59,727 "60,372
165,456
57,31 1
95,132
96,076
385,136
378,025
91,937
88,927
1 164728 1 189788
212,287
217,532
380,927
371,580
126462
130200
94,455
95,308
186,162
194,005
69,169
75,668
22,336
21,618
8,592
31,991
7,328
99020
17,780
31,478
10685
7,789
16,362
6309
1,797
r
154,464
r
55,341
7,599
28,994
7,852
104877
22,376
31,978
10,371
8,903
15,842
6,285
1,922
r
153,974
r
54,693
7,268
28,151
9,798
123888
32,919
33,428
10,300
12,599
16,239
8,204
2,325
154,280
55,406
6,629
29,374
7,010
90562
13,658
31,112
9,545
5,987
15,380
6,312
1,668
157,808
56,919
6,802
30,847
6,924
90380
15,005
29,993
9,128
6,359
15,535
6,238
1,704
159,753
57,961
8,069
34,527
7,325
96380
16,901
31,174
9,758
7,397
16,581
6,384
1,741
157,873
57,122
9,197
35,455
7,206
98397
17,701
31,717
9,911
8,249
16,272
6,530
1,802
158,385
57,442
10,032
35,741
7,319
103185
18,830
33,262
10,791
8,284
17,323
6,439
2,015
159,111
57,643
9,979
37,729
7,597
99,789
17.681
32,477
10,961
7,940
16,603
6,291
1,989
158,982
57,686
9,655
37,194
7,816
101,884
17,438
34,037
11,229
7,936
17,061
6,284
2,105
160,784
58,580
"9,262
"9,238
9,138
34,657 "35,176 "35,422
7,800
"7,643
"7,961
104,625 "99,044 "105,712
19,370 "17,659 "19,747
33,060 "31,652 "32,912
11,178 "10,607 "10,942
"8,877
9,175
"8,306
17,624 "16,402 "17,501
6,294
"6,073
"6,299
"1,959
2,050
2,057
160,999 "162,171 "165,180
58,254 "59,259 "60,936
7,991
32,039
8,471
108,145
23,675
31,781
10,537
9,445
16,416
6,223
"7,919
8,174
6,238
965
32,422
8,497
6,390
1,050
33,163
8,757
6,563
1,053
33,938
8,692
6,479
1,062
33,058
8,722
6,467
1,052
33,280
8,721
6,452
1,081
33404
8,574
6,337
1,065
33,416
8,592
6,409
1,088
33,896
8,477
6,358
1,103
33,655
"8,769
"6,587
"1,097
"34,219
"8,769
6,571
1,095
"35,867
29,798
2,624
7,446
4,005
2,629
30,494
31,245
2,669 ' 2,693
7,660
7,628
4,096
4,029
2,724
2,760
30,373
2,685
7,677
4,074
2,754
30,635
2,645
7,609
4,073
2,712
30,774
2,630
7,549
4,101
2,642
30,770
2,646
7,683
4,205
2,668
31,200
2,696
7,886
4,337
2,716
30,989
2,666
7.823
4,270
2,740
"31,512
"2,707
"7,860
"4,263
"2,767
"33,058
"2,809
"7,966
4,245
2,864
1 790,448 1,741,614
890 261
846 466
900,187
895,148
197554
129,004
68,550
RETAIL TRADE ?
[Millions of dollars]
All retail stores:
Estimated sales (unadj.), total
Durable goods stores #
Building materials, hardware, garden supply,
and mobile home dealers
Automotive dealers
Furniture, home furnishings, and equipment ...
Nondurable goods stores
General merch group stores
Food stores
Gasoline service stations
Apparel and accessory stores
Eating and drinking places
Drug and proprietary stores
Liquor stores
Estimated sales (seas adj.), total ... .
Durable goods stores # .
Bldg. materials, hardware, garden supply, and
mobile home dealers #
Building materials and supply stores
Hardware stores
Automotive dealers
Motor vehicle and miscellaneous auto
dealers
Auto and home supply stores
Furniture horne furnishings and equipment #
Furniture home furnishings stores
Household aoDliance, radio, and TV stores
See footnotes at end of tables.
r
8,059
r
r
5,963
r
6143
"985
r
32 354
1,006
r
31 ,956
r
r
29707
"2,647
'7348
r
3,932
" 2,625
29,359
r
2,597
r
7,293
r
3925
"2,549
165,832
61,249
8,620
36,092
33,313
2,779
8,098
December 1992 • S-9
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1953-91
Annual
1990
1991
1991
Oct. |
Nov.
1992
Dec.
Jan.
Mar. |
Feb.
Apr.
May
June
July
Aug.
Oct.
Nov.
104,244
19,923
104,583
19,915
Sept.
4. DOMESTIC TRADE-Continued
RETAIL TRADE t-Continued
[Millions of dollars-Continued]
All retail stores-Continued
Estimated sales (seas. adj.)-Continued
Nondurable goods stores
General merch. group stores
Department stores excluding leased
departments .
Variety stores
Food stores
Grocery stores
Gasoline service stations
Apparel and accessory stores #
Men's and boys' clothing and furnishings
r
99,1 23
r
r
99
r
281
18,335
98874
17,820
100889
19,328
101 792
19,731
100751
19,030
100943
18,947
101 468
19,053
101 296
19,025
102204
19,581
102,745
19,653
14r 491 r14656
r
586
604
r
31
,810
'31,803
r
r
29,81 6 29,830
r
10205 r10289
r
7870 r7903
14173
594
31,956
29,955
10208
7811
15304
624
32,049
30,064
10165
8057
15606
636
31,920
29,953
10210
8277
15050
574
31,823
29,830
10229
8137
14977
586
32,139
30,079
10249
8199
15180
572
31,968
29,872
10497
8318
15076
568
32,200
30,075
10539
8445
15392
551
32,284
30158
10544
8658
15570
538
32,620
30494
10437
8562
689
729
736
729
717
730
729
721
719
18,305
r
r
Women's clothing, specialty stores, and
furriers
Shoe stores
Eating and drinking places
Druo and oroorietarv stores
Liquor stores
Estimated inventories, end of period:
Book value (non-LIFO basis), (unadjusted), total
Durable goods stores #
Bldg. materials, hardware, garden supply,
and mobile home dealers
Automotive dealers
Furniture, home furnishings, and equipment
Nondurable goods stores #
General merch. group stores
Department stores excluding leased
Food stores
Apparel and accessory stores
Book value (non-LIFO basis) (seas adj ) total
Durable goods stores #
Bldg. materials, hardware, garden supply,
and mobile home dealers
Automotive dealers
Furniture home fum and equipment
Nondurable goods stores #
General merch. group stores
Department stores excluding leased
departments
Food stores
Apparel and accessory stores
Firms with 11 or more stores:
Estimated sales (unadj.), total
Durable goods stores
Auto and home supply stores
Nondurable goods stores #
General merchandise group stores
Food stores
Grocery stores
Apparel and accessory stores
Eating places
Drug stores and proprietary stores .. .
Estimated sales (sea adj ) total
Auto and home supply stores
Department stores excluding leased departments
Variety stores
Grocery stores
Apparel and accessory stores
Women's clothing, specialty stores, and
furriers
Shoe stores
Drug stores and proprietary stores
703
r
2777
r
r
709
r
1,437
16,329
6399
r
1866
2773
'1,413
16,366
r
6387
r
1873
2678
1,418
16,741
6435
1 716
2726
1,450
16,736
6461
1 851
2826
1,498
16904
6525
1 930
2817
1,436
16715
6528
1 909
2884
1,454
16,403
6537
1 933
2992
1,482
16,420
6491
1,993
2945
1,492
15,843
6459
1 985
2922
1,515
15930
6465
1 984
2971
1,501
16303
6469
2009
r
102,912
19,733
r
r
r
r
r
15594
r
545
"r 32,205
30,072
r
10419
r
8654
r
710
15728
552
15866
r
32,507
r
32,739
30,560
10443
8778
30,327
M0431
r
8755
720
r
2991
r
3015
1,472
1,489
r
r
16 601 r17 259
r
6413
6369
r
2049
2071
236,192
120507
238 823
118480
254,023
119284
257,915
121 693
238,823
118480
233,603
114791
237,187
117065
242 743
120382
247,356
123,472
245,350
123,570
244,547
123,182
246,858
121 973
246 224 rr 252 851 265,462
120315 121 909 126931
15,521
65936
16,907
115685
39,873
16,051
63003
17,007
120343
42,472
15,874
59912
18,534
134,739
51,863
16,000
61839
18,634
136,222
52,356
16,051
63003
17,007
120,343
42,472
16,204
60535
16,500
118,812
42,391
17,144
62062
16,241
120,122
42,847
17,796
63149
17,064
122,361
44,807
18,372
64610
17,336
123,884
46,081
18,288
64279
17,415
121,780
44,509
17,826
63950
17,427
121,365
44,300
17,762
61 756
17,623
124885
46,119
17,502
59565
17,934
125909
46,927
30044
25,509
17902
240217
119331
32975
26,341
17678
243162
117,454
39968
26,423
21398
r
240 011
r
116,629
40,61 1 32,975
26,991 26,341
17678
21 486
240 879 243,162
116,873 117,454
33,023
25,781
17,358
240,986
115,918
33,486
25,496
18,624
241,938
117,259
35,090
25,571
19096
244,288
119,827
35,915
25,861
19450
247 992
122,884
34,728
26,075
19199
247,349
122,694
34,358
26,150
18778
248,813
123,198
35692
26,106
20207
251 382
124,421
36353 r 38 895 42510
25,636 rr25 998 26,989
21 138 21 533 22536
250,302 rr251 142 250,398
124,348 124,204 123,780
16134
63308
17061
120886
43,529
16668
60454
17196
r
16331
r
60 454
r
16529
60555
17190
16668
60454
17196
125,708
46,311
16740
59,605
16958
125,068
46,263
17127
60456
16848
124,679
45,287
17161
61898
17341
124,461
45,626
17682
63805
17600
125,108
46,431
17450
63409
17716
124,655
46,150
17290
63545
17819
125,615
46,790
17744
63570
18075
126,961
47,356
17679
63460
18170
125,954
47,165
32763
25212
19,716
35920
26009
19,491
r
34846
r
25 750
r
19,208
34829
25,917
19,339
35920
26,009
19,491
35934
25,832
19,503
35286
25,921
19,604
35588
25,785
19,566
35951
26,075
19,646
35876
26,104
19,631
36358
26,243
19,560
36834
26,403
20,007
36869
26,195
20,170
r
37 220
r
26,327
r
723,088
92788
9894
630 300
202541
216546
212 922
56594
44863
41 642
749,487
98985
10570
650 502
206 830
226010
222037
59434
44819
45898
62,000
8130
969
53870
16840
18763
18463
4868
3818
3801
62715
893
14200
373
18574
4978
68,774
8,697
896
60,077
21 500
19,256
18928
5,814
3730
3849
62974
891
14423
385
18630
5,007
88,421
12,545
848
75,876
32034
20,171
19598
8,349
3697
5,424
62392
877
13968
370
18665
4,906
55,494
7,303
800
48,191
12891
18,908
18599
3,560
3589
3,812
64846
943
15058
400
18636
5,134
55,993
7,168
791
48,825
14352
18,102
17750
3,843
3596
3,814
65241
955
15375
406
18625
5,184
60,895
8,074
878
52,821
16125
18,700
18367
4,656
3902
3,878
64615
919
14783
366
18628
5,145
62,947
8,460
934
54,487
16841
18,932
18562
5,215
3943
4034
65168
920
14812
391
18826
5,156
66,012
9,123
969
56,889
17935
19,660
19326
5,172
4196
3,989
65531
922
14930
392
18709
5,228
63,390
9,120
997
54,270
16849
18,829
18,510
4,967
3965
3,890
65432
922
14830
392
18697
5,311
64,062
8,966
1,026
55,096
16599
19,839
19517
4,819
4158
3792
66169
927
15145
386
18730
5,429
66,391
'8910
980
"r 57,481
18515
r
19,292
r
18 985
r
5,747
4187
3834
r
66r 41 9
922
r
15343
r
386
r
19100
r
5,342
62,729
8873
962
54,056
16807
18,574
18277
5,199
3907
3714
66339
935
15349
404
18707
5,420
1,722
944
3927
1,740
953
3912
1,672
906
3936
1,777
973
3979
1,784
1 000
4019
1,783
958
4014
1,792
944
4046
1,832
972
4046
1,812
984
4019
1,760
1,018
3971
17129
125708 r r123 382 124,006
46,311
45,100 45,223
r
r
r
1,832
\ 013
'3981
17244
6369
r
17,423
r
59 490
r
17,414
61 631
18,620
19,823
r
130 942 138531
"50,561
55,270
r
r
17 760 17916
62 961 62,031
"18219
18321
r
126,938 126,618
M7.942 48,043
20,1 24
37062
26,302
20,230
1,820
1 012
3964
5. LABOR FORCE, EMPLOYMENT, AND EARNINGS
LABOR FORCE AND POPULATION
[Thousands, unless otherwise indicated]
Not seasonally adjusted:
Noninstitutional population, persons 16 years of
age and over
Labor force @
Resident Armed Forces
Civilian noninstitutional population
Civilian labor force, total
Employed
Unemployed
Seasonally adjusted:
Civilian labor force*, total
Participation rate, percent t
Employed total
Employment-population ratio,
percent t
Agriculture
Nonagriculture
Unemployed total
Long term, 15 weeks and over
See footnotes at end of tables.
189686
126424
1 637
188JJ49
124J87;
-" '~ 117,914
ft 874'
191,329
126867
1 564
189,765
125,303
116,877
8426
191,903
127182
1 614
190,289
125,568
117,555
8013
192,057
127001
1,605
190,452
125,396
117,110
8 286
192,209
126,712
1,604
190,605
125,108
116,549
8,559
192,358 192,469 192,607
126,671 126,971 127,382
1,599
1,585
1,585
190,759 190,884 191,022
125,072 - 125,386 ... 125,797
115,122 115,224 116,106
9,949
9,691
10,161
192,745
127,455
1,577
191,168
125,878
116,933
8,945
192,881
128,279
1,574
191,307
126,705
117,535
9,169
193,025
130,572
1,570
191,455
129,002
118,907
10,095
193,190
131,168
1,568
191,622
.129,600
119,754
9,845
193,356 193,513
130,039 128,610
1,566
1,566
191,790 191,947
128,473 ,127,044
119,082 117,953
9,390
9,090
193,683
128,398
1,552
192,131
126,846
118,246
8,600
193,847
128,618
1,531
192,316
127,087
118:239
8,848
66.4
66.0
125,508
66.0
116,867
125,374
65.8
116,772
125,619
65.9
116,728
126,046
66.1
117,117
126,287
66.2
117,043
126,590
66.3
117,348
126,830
66.3
117,675
127,160
66.5
117,656
127,549
66.6
117,574
127,532
66.6
117,772
127,437
66.4
117,737
127,273
66.3
117,701
126,959
66.1
117,625
127,238
66.2
118,045
627
3,186
114,728
61.6
3,233
113,644
1,504
2,323
61.4
3,204
113,663
8641
2,570
61.3
3,272
113,500
8602
2,623
61.2
3,183
113,545
8891
2,843
61.4
3,166
113,951
8,929
3,059
61.3
3,232
113,811
9,244
3,204
61.4
3,194
114,155
9,242
3,185
61.6
3,209
114,465
9,155
3,018
61.5
3,178
114,478
9,504
3,361
61.4
3.252
114,322
9,979
3,675
61.5
3,204
114,568
9,760
3,616
61.4
3,218
114,519
9,700
3,563
61.3
3,242
114,459
9,572
3,472
61.2
3.160
114,465
9,334
3,522
61.4
3.211
114,834
9,193
3,315
SURVEY OF CURRENT BUSINESS
S-10 • December 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
Annual
1990
1991
1991
Oct.
Nov. I
1992
Dec.
Jan.
Feb.
Mar.
Apr. ] May
June I
July |
Aug. [
Sept. |
Oct. | Nov.,
5. LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued
LABOR FORCE-Continued
Seasonally adjusted-Continued
Civilian labor force—Continued
Unemployed—Continued
Rates $:
All civilian workers
Men 20 years and over
Women, 20 years and over
Both sexes, 16-19 years
White
Black
Hispanic origin
Marn'ed men, spouse present
Married women, spouse present
Women who maintain families
Industry of last job:
Private nonagricultural wage and
salary workers
Construction
Manufacturing
Durable goods
Agricultural wage and salary workers
Not seasonally adjusted:
Occupation:
Managerial and professional specialty ....
Technical, sales, and administrative
support
Service occupations
Precision production, craft, and repair ....
Operators, fabricators, and laborers
Farming, forestry, and fishing
55
49
4.8
15.5
4.7
11.3
8.0
3.4
3.8
8.2
67
63
5.7
18.6
6.0
12.4
9.9
4.4
4.5
9.1
69
65
5.8
18.9
6.1
12.8
10.5
4.2
4.5
9.4
69
64
5.9
18.7
6.2
12.3
10.2
4.5
4.6
9.1
71
66
6.1
19.3
6.3
12.7
9.7
4.7
4.9
9.1
71
69
5.9
18.3
6.2
13.7
11.3
4.8
4.8
9.0
73
70
6.1
20.0
6.5
13.8
11.6
5.0
4.8
9.5
73
69
6.1
20.6
6.5
14.1
11.6
4.8
5.0
10.0
72
68
6.3
19.2
6.3
13.9
10.3
4.7
5.0
10.2
75
73
6.1
20.0
6.5
147
11.3
5.1
4.9
10.0
78
74
6.4
23.6
6.8
149
12.1
5.3
5.3
10.1
77
72
6.5
21.0
6.7
14.6
11.9
5.3
5.3
10.6
76
73
6.5
19.8
6.6
14.3
11.2
5.4
4.9
10.5
75
71
6.3
20.4
6.7
13.7
11.9
5.3
5.1
9.0
74
72
6.1
18.3
6.5
139
11.8
5.2
5.0
9.1
72
68
6.1
20.2
6.3
138
12.0
4.8
4.9
10.5
5.7
11.1
5.8
58
9.7
7.0
15.4
7.2
75
11.6
7.1
16.1
7.0
7.4
11.9
7.2
16.1
7.4
7.1
12.4
7.4
16.3
7.2
7.3
11.5
7.4
17.0
7.0
70
10.9
7.6
17.4
7.6
7.7
11.7
7.8
17.6
7.3
74
9.6
7.5
16.6
7.6
75
10.4
7.8
16.9
7.7
77
13.6
8.0
17.6
8.3
82
13.3
7.8
16.5
83
83
14.3
8.0
17.0
7.9
84
11.2
7.8
17.5
8.1
84
14.8
7.9
16.0
8.3
92
12.4
7.4
14.3
8.2
88
13.9
2.1
2.8
2.9
2.6
2.6
2.9
3.0
2.9
2.8
3.2
3.3
3.4
3.7
3.5
3.1
2.8
4.2
6.6
5.8
8.6
6.2
5.1
7.5
7.9
10.5
7.6
5.1
7.6
6.9
8.8
7.2
5.1
8.2
7.7
9.6
9.1
5.2
8.0
8.3
10.9
8.8
6.0
8.7
11.3
13.0
11.3
6.0
8.2
12.0
13.7
11.0
5.7
8.1
11.2
12.6
8.9
5.4
8.1
9.1
11.4
6.5
5.7
8.3
8.3
10.7
6.3
6.0
8.6
8.3
10.7
6.5
6.1
7.9
7.5
10.7
6.7
6.1
8.0
7.4
10.0
6.7
6.0
8.0
7.5
9.7
7.9
5.8
7.8
7.2
9.6
7.0
5.4
8.0
7.9
10.0
10.0
109782
91,478
108310
89,930
109094
90,438
109106
90,292
108966
90,212
106607
88,184
106866
88,108
107359
88,477
108140
89,248
108876
89,953
109378
90,746
108298
90,668
108244
90,746
r
108 952 '109,363
'90,580 '90,498
109,582
90,508
109782
91,478
72,361
24960
710
5,133
19117
11,130
735
507
557
757
1 423
2,099
1,676
1990
1,008
377
7,988
1 666
49
692
1,039
698
1,575
1,088
158
890
133
84,822
5,808
6200
19,677
6,729
28,103
18304
3085
4,305
10,914
108310
89,930
71,475
23830
691
4,685
18,455
10,602
679
472
524
726
1 359
2,007
1,598
1 891
980
366
7,852
1 672
49
672
1,010
688
1,541
1,072
159
864
125
84,480
5,772
6069
19,259
6,678
28,323
18380
2966
4,346
11,067
108285 108 139 108154
89,704
89,875
89,715
71,487
71,354
71,375
23584
23704
23613
667
663
674
4,592
4,642
4,585
18,361
18,388
18,329
10,530
10,498
10,466
677
678
679
467
468
469
524
520
520
714
718
715
1 347
1 352
1,351
1,967
1,958
1,981
1,574
1,581
1,578
1889
1878
1886
969
962
973
367
366
366
7,858
7,863
7,863
1 671
1 672
1 670
49
48
49
677
679
676
1,027
1,026
1,021
687
687
688
1,527
1,528
1,531
1,072
1,073
1,073
159
159
158
867
869
870
124
124
123
84,570
84,526
84,581
5,758
5,766
5,761
6,021
6040
6031
19,112
19,175
19,130
6,670
6,665
6,666
28,514
28,525
28,559
18424
18410
18450
2980
2,981
2,983
4,337
4,343
4,342
11,093
11,100
11,125
108,100
89,643
71,360
23527
657
4,587
18,283
10,422
680
466
517
711
1,344
1,954
1,570
1,850
963
367
7,861
1,672
50
678
1,024
687
1,524
1,073
158
871
124
84,573
5,746
6,010
19,118
6,665
28,577
18,457
2,981
4,347
11,129
108142 108 200 108377
89,693
89,835
89,681
71,415
71,556
71,391
23,525
23532
23530
653
646
651
4,582
4,603
4,605
18,290
18,278
18,279
10,430
10,417
10,409
686
689
688
464
467
465
517
518
520
710
710
708
1 341
1,342
1,342
1,949
1,950
1,948
1,564
1,557
1,560
1,872
1863
1859
959
956
952
. 366
366
368
7,870
7,860
7,861
1,671
1,671
1677
50
49
50
682
682
681
1,025
1,025
1,023
687
689
686
1,521
1,519
1,519
1,071
1,072
1,073
157
158
157
874
877
876
123
123
123
84,617
84,847
84,668
5,754
5,746
5,753
5,997
6,003
5993
19,092
19,177
19,143
6,675
6,682
6,673
28,584
28,707
28,643
18507
18542
18461
2,989
2,981
2986
4,345
4,346
4,360
11,134
11,173
11,196
108,496
89,950
71,675
23,548
641
4,632
18,275
10,398
687
467
522
707
1 343
1,959
1,554
1842
949
368
7,877
1,678
49
679
1,026
691
1,522
1,073
156
880
123
84,948
5,745
5993
19,150
6,681
28,833
18546
2984
4367
11,195
108,423
89,885
71,649
23,470
634
4,600
18,236
10,371
684
469
521
706
1,338
1,954
1,549
1,836
946
368
7,865
1,671
49
680
1,023
689
1,520
1,073
155
883
122
84,953
5,745
5988
19,156
6,672
28,854
18538
2,972
4,357
11,209
108,594
89,988
71,746
23,459
633
4,584
18,242
10,347
683
470
521
702
1335
1,947
1,545
1,829
943
372
7,895
1,685
49
682
1,034
689
1,522
1,070
154
884
126
85,135
5,742
5972
19,184
6,660
28,971
18606
2,957
4,388
11,261
108485
89,803
71,658
23362
626
4,591
18,145
10,298
682
465
520
701
1 334
1,941
1,536
1,816
938
365
7,847
1,672
51
675
1,013
687
1,521
1,072
153
880
123
85,123
5,729
5964
19,106
6,661
28,981
18682
2959
4,383
11,340
r
108,497
r
89,847
'71,745
r
23,296
r
620
'4,574
r
18,1 02
r
10,271
683
461
520
699
1,330
1,943
1,538
r
1,797
935
'365
r
7,831
r
1,661
50
677
'1,007
692
1,523
'1,069
152
'877
123
'85,201
'5,738
'5,957
'19,122
'6,669
'29,065
'18650
'2967
'4,401
'11,282
'108,531
'89,913
'71,876
'23,257
'622
'4,598
'18,037
'10,226
'688
'461
'517
'695
'1,323
'1,934
1,534
'1,781
'930
'363
'7,811
'1,659
'49
672
'1,004
688
1,519
'1,069
152
'877
'122
'85,274
'5,730
'5966
'19138
'6,680
'29,142
'18618
'2944
'4,390
'11,284
108,636
89,958
71,886
23,281
622
4,587
18,072
10,246
692
462
519
696
1 ,326
1,936
1,537
1,785
926
367
7,826
1,668
47
675
1,006
688
1,516
1,070
152
881
123
85,355
5,735
5,968
19,092
6,676
29,206
18678
2934
4,397
11,347
74108
12,979
72705
12,467
73,232
12,578
73,111
12,502
73,033
12,423
71,133
12,236
71,067
12,242
71,437
12,263
72,203
12,309
72,873
12,359
73,623
12,455
73,558
12,350
73,659
12,445
'73,530
'12,458
'73,491
'12,377
73,482
12,338
74108
17472
509
3,984
12,979
7,379
605
401
433
575
1 048
1,263
1,056
1,225
500
274
72,705
16,533
491
3,575
12,467
6,988
556
371
405
547
994
1,198
1,004
1,170
482
264
72,670
16,456
476
3,548
12,432
6,945
554
369
405
541
989
1,180
996
1,171
476
264
72,538
16,378
470
3,487
12,421
6,931
556
368
402
539
989
1,169
994
1,174
475
265
72,539
16,369
468
3,498
12,403
6,913
556
367
401
539
985
1,165
992
1,171
472
265
72,540
16,344
464
3,494
12,386
6,895
557
367
400
535
984
1,162
992
1,161
472
265
72,561
16,348
462
3,487
12,399
6,906
563
365
399
536
984
1,162
988
1,173
471
265
72,592
16,373
461
3,506
12,406
6,909
565
367
400
535
984
1,161
988
1,173
470
266
72,777
16,383
457
3,514
12,412
6,903
565
369
403
535
985
1,165
986
1,164
465
266
72,887
16,407
452
3,545
12,410
6,896
564
369
404
533
985
1,172
988
1,149
465
267
72,859
16,347
449
3,520
12,378
6,876
560
370
404
532
981
1,169
986
1,146
463
265
72,918
16,348
447
3,509
12,392
6,867
560
372
403
532
979
1,164
983
1,144
463
267
72,766
16,262
444
3,511
12,307
6,828
558
366
402
531
979
1,161
977
1,135
458
261
'72,810
'16,209
'440
'3,499
'12,270
'6,809
'559
'363
402
'529
'975
'1,166
'977
'1,120
'456
'262
'72,916
'16,195
441
'3,527
'12,227
'6,784
564
'363
400
'526
'970
'1,159
976
'1,110
'455
261
72,926
16,211
439
3,505
12,267
6,809
568
365
400
527
976
1,164
979
1,115
452
263
EMPLOYMENT §
[Thousands]
Employees on nonfarm payrolls by industry:
Total not adjusted for seas variation
Private sector (excl. government)
Seasonally adjusted:
Total employees nonfarm payrolls
Private sector (excl. government)
Nonmanufacturing industries
Goods-oroducina
Mining
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment
Transportation equipment
Instruments and related products
Miscellaneous manufacturing
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and misc. plastics products
Leather and leather products
Service-producing
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
Government
•
Federal
State
Local
Production or nonsupervisory workers on private
nonfarm payrolls not seas, adjusted
Manufacturing, not seas, adjusted
Production or nonsupervisory workers on private
nonfarm payrolls
Goods-oroducina
Mining
..."."'..."."'"...:."" '.' " ".
Construction
Manufacturing
Durable goods
.
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment
Transportation equipment
Instruments and related products
Miscellaneous manufacturing
See footnotes at end of tables.
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1953-91
1990 |
1991
Oct.
S-ll
December 1992
1992
1991
Annual
Nov. | Dec.
Jan.
Feb.
Mar. |
Apr. |
May |
June |
July | Aug.
Sept.
Oct.
Nov.
'5,443
'1,203
'37
5,458
1,212
35
577
840
517
835
561
100
681
100
56715
4,794
4804
16,783
4,843
25,491
5. LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued
EMPLOYMENT §-Continued
[Thousands]
Seasonally adjusted-Continued
Production or nonsupervisory workers—Continued
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and misc. plastics products
Leather and leather products
Service-producing
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
5,479
1,208
36
576
845
518
850
579
103
663
101
56172
4,798
4862
16987
4,818
24,707
5,487
1,209
37
580
853
517
845
576
103
667
100
56214
4,797
4839
16888
4,804
24,886
345
343
344
343
343
344
347
345
44.1
44.4
44.0
44.1
44.0
5,600
1,198
37
594
871
524
874
601
103
689
110
56636
4,821
4981
17425
4,876
24,534
5,490
1,207
36
580
860
518
844
572
103
669
101
56160
4,797
4833
16848
4,809
24,873
5,490
1,207
37
582
858
518
843
571
103
670
101
56 170
4,794
4823
16827
4,809
24,917
5,491
1,210
37
582
857
517
843
570
103
672
100
56 196
4,794
4815
16821
4,813
24,953
5,493
1,210
37
584
858
516
841
569
104
674
100
56213
4,797
4808
16840
4,819
24,949
5,497
1,211
37
586
858
517
841
568
103
676
100
56219
4,795
4805
16808
4,820
24,991
5,509
1,222
37
585
857
519
842
567
103
676
101
56394
4,791
5,514
1,221
37
583
861
521
842
568
102
679
100
56480
4,790
5,502
1,218
37
582
856
519
840
567
101
683
99
56512
4,794
4810
4815
4813
16874
4,826
25,093
16872
4,826
25,177
16874
4,818
25,213
5,525
1,229
37
583
867
519
841
563
101
684
101
56570
4,789
4800
16883
4,811
25,287
5,479
1,216
39
578
848
517
840
563
100
679
99
56504
4,770
4791
16815
4,812
25,316
r
r
5,461
1,204
37
580
'843
'"521
841
'560
100
676
99
'56601
' 4,789
"4,791
r
16,833
" 4,823
'25,365
'573
841
'517
'837
'560
100
'676
'99
'56 721
'4,786
'4800
'16,830
'4,830
'25,475
AVERAGE HOURS PER WEEK §
[Hours]
Seasonally adjusted:
Average weekly hours per worker on private
nonfarm payrolls: 0
Not seasonally adjusted
Seasonally adjusted
Mining
Construction $
Manufacturing:
Not seasonally adjusted
Seasonally adjusted
Overtime hours
Durable goods
Overtime hours
Lumber and wood products
Furniture and fixtures
Stone clay and glass products
Primary metal industries
Fabricated metal products
Industn'al machinery and equipment
Electronic and other electrical equipment ...
Transportation equipment
Instruments and related products
Miscellaneous manufacturing
Nondurable goods
Overtime hours
Food and kindred products
Tobacco manufactures $
Textile mill products
Apparel and other textile products
Paper and allied products
Chemicals and allied products
Petroleum and coal products $
Rubber and misc. plastics products
Leather and leather products
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate $
Services
338
342
343
342
344
346
346
34.6
44.2
36.6
34.5
44.3
34.6
44.3
34.3
43.4
34.3
43.7
382
381
392
378
379
34.3
43.7
36.7
373
34.3
44.2
38.2
389
389
389
40.8
40.7
41.1
41.7
40.6
40.6
40.9
40.4
41.1
41.2
40.7
409
37
41-.3
409
3.7
41 0
37
409
3.6
41 1
3.7
41 1
3.8
41 1
3.9
41 3
4.1
41 0
3.8
41 0
3.8
41.3
41.3
41.4
41.3
41.6
41.6
41.5
41.9
41.5
41.6
36
41.3
3.7
40.2
391
420
42.7
41.3
41.9
40.8
420
41.1
3.6
41.1
3.5
40.0
38.9
41.7
42.2
41.2
41.7
40.7
41.9
41.0
3.7
3.7
3.7
40.1
40.4
40.6
391
418
391
416
395
419
42.6
41.5
41.8
40.7
42.5
41.4
41.8
41.0
42.1
41.1
42.6
41.5
41.9
41.1
423
41.0
420
41.1
3.5
3.7
40.5
39.5
41.6
42.4
41.4
41.8
41.0
41.6
41.0
39.8
41.1
39.7
41.9
42.9
41.6
42.1
41.1
42.0
41.2
399
3.7
41.0
40.1
42.0
43.0
41.6
3.8
40.3
40.5
3.9
403
3.8
403
3.8
405
40.8
38.2
41.4
37.3
39.5
41.3
37.2
38.1
41.0
37.2
'38.7
438
437
435
38.1
43.2
43.6
41.8
38.0
38.0
43.1
43.4
41.6
38.4
39.1
40.8
37.2
43.5
38.0
43.1
43.4
41.7
37.9
38.6
38.1
28.6
35.6
32.4
38.8
38.0
28.5
35.6
38.9
38.0
28.9
35.5
324
39.3
38.5
28.9
36.3
32.7
19992
162.69
200.86
163.68
38.0
41.4
397
400
404
3.8
407
405
3.8
406
40.4
3.7
406
405
3.8
408
39.2
39.9
39.1
40.6
37.0
40.2
41.2
38.5
41.3
37.3
39.4
41.5
39.1
41.0
37.4
37.1
41.4
37.2
39.1
41.3
37.4
434
436
436
372
440
38.0
43.4
43.5
41.7
38.1
43.1
43.9
41.7
38.0
43.1
43.5
42.3
38.2
43.4
44.5
41.9
434
380
374
435
381
43.1
44.1
41.4
43.3
44.5
41.5
43.4
43.5
41.5
37.9
43.2
42.4
41.5
375
372
381
377
376
371
376
380
382
38.9
38.1
28.8
35.8
38.7
38.1
28.6
35.7
38.5
38.1
28.5
35.5
38.5
38.2
28.7
35.6
38.6
38.2
28.7
36.2
38.5
38.1
28.7
35.6
38.7
38.5
29.0
36.4
38.5
38.3
28.8
36.2
38.2
38.3
28.6
35.7
38.8
38.3
28.8
35.6
325
324
324
324
325
324
326
326
324
326
20320
16652
19976
162.91
19968
16268
19974
162.72
20014
16321
19945
162.27
201 05
163.67
20064
163.39
20012
162.74
201 07
163.97
1.63
1021
1.59
1.54
1.53
1.52
929
3904
11.64
12.02
28.61
12.43
4829
36.84
920
3902
11.60
11.97
28.42
12.38
4855
3700
904
3900
11.57
11.98
28.55
12.42
4864
37.02
917
3898
11.58
11.96
28.52
12.54
4895
36.93
120.4
103.6
120.4
103.2
59.7
1227
59.1
120.0
102.5
373
434
378
42.6
44.6
41.1
42.9
44.1
41.1
374
41.2
40.3
405
4.1
405
398
403
3.8
406
433
377
409
3.5
40.4
400
406
4.1
407
396
402
3.7
406
364
433
379
41.6
41.3
41.0
400
399
40.5
395
400
3.6
408
3.9
407
41.3
41.1
37.1
3.7
400
41.2
42.0
41.2
41.6
34.6
34.7
44.1
37.5
40.5
39.4
42.3
43.1
41.6
42.2
41.2
42.2
41.2
39.7
43.2
41.3
42.1
41.0
41.8
40.9
422
3.7
34.5
34.5
'44.1
'39.0
3.8
3.8
40.1
39.8
42.3
43.2
41.6
42.2
41.1
41.9
41.2
424
41.1
41.0
"343
34.3
'43.8
40.8
40.1
42.5
43.1
41.9
42.1
41.3
41.5
41.1
40.1
4.1
40.8
40.0
42.5
43.6
41.9
42.6
41.5
42.2
41.4
40.6
40.0
35.0
34.6
44.4
39.0
3.4
40.3
39.2
"42.5
r
42.7
'41.1
42.0
41.0
'40.9
41.0
39.5
3.8
41.8
37.4
43.9
38.1
42.9
43.8
41.5
37.8
'32.1
3.8
41.6
3.8
"40.7
3.9
41.8
3.9
40.0
41.1
40.4
42.3
43.0
41.9
42.8
41.6
41.7
41.3
40.1
40.4
40.6
39.8
"42.4
"42.8
"41.6
"42.4
41.3
41.6
"41.3
3.9
"40.9
"38.5
"40.7
37.4
"43.4
"38.2
'42.9
'44.8
41.6
'38.4
38.9
38.1
'28.9
35.6
32.5
3.9
40.8
38.9
41.1
37.6
43.5
38.1
43.0
43.9
42.0
39.3
39.4
38.5
29.0
36.4
32.7
AGGREGATE EMPLOYEE-HOURS §
[Billions of hours]
Seasonally adjusted:
Employee-hours, wage and salary workers in
nonagric. establishments, for 1 week in the
month seas ad] at annual rate
Total private sector
Mining
.
Construction
Manufacturing
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
Government
4049
11.78
12.27
29.45
12.55
4814
3669
1.49
9.04
20010
162.90
'19930
162.53
'1.40
1.48
9.15
1.48
9.37
1.43
9.16
1.43
9.15
1.45
9.09
37.25
38.91
11.49
11.94
28.52
12.36
48.90
37.38
39.04
11.59
11.94
28.68
12.49
49.39
37.10
38.79
11.56
11.86
28.49
12.38
49.23
37.20
38.79
11.62
11.80
28.43
12.26
49.21
37.23
38.55
11.68
11.90
28.64
12.58
49.79
37.17
'38.42
11.63
'11.77
"28.74
'12.32
49.17
'36.77
121.2
103.2
121.0
103.5
120.7
103.6
121.7
104.6
120.8
103.3
120.8
103.3
121.7
102.8
58.2
58.3
57.6
57.1
55.6
55.7
56.2
119.7
102.7
120.6
102.9
121.9
102.8
125.2
103.3
100.1
107.8
129.4
113.7
113.0
119.6
119.0
149.0
122.4
102.4
122.3
102.5
121.8
101.8
'120.5
'102.1
"55.0
'121.3
'101.2
'97.2
106.8
128.8
'114.0
'111.6
'119.7
"118.2
'147.8
1.50
1.50
38.79
11.51
11.91
28.53
12.40
48.60
37.19
901
38.94
11.61
12.02
28.87
12.64
49.09
37.38
907
38.94
11.54
11.94
28.59
12.63
120.7
103.5
120.3
102.8
58.7
57.8
121.9
102.6
120.2
102.1
4918
9.09
'200.14
'163.17
'1.43
"9.06
"38.40
"11.63
"11.82
'28.76
"12.44
'49.64
'36.96
201 .68
164.48
'121.4
102.2
'55.5
"121.3
"101.3
122.2
102.5
1.43
8.97
38.59
11.76
11.95
28.79
12.72
50.28
37.20
[1982=100]
Indexes of employee-hours (aggregate weekly): 0
Private nonfarm payrolls, total
Goods-Droducina
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
Service-producing
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
See footnotes at end of tables.
123.5
120.5
1098
64.0
1383
1038
62.2
1237
106.7
105.7
108.1
129.6
114.8
116.2
123.4
120.6
144.9
102.3
102.5
99.6
99.5
99.3
99.3
98.6
99.5
99.7
99.2
106.1
128.0
113.5
113.5
119.4
118.9
145.2
106.7
127.9
113.0
113.0
118.4
118.4
146.3
107.1
128.1
113.0
113.2
119.0
118.9
146.3
107.2
128.5
113.2
112.9
118.8
119.9
147.0
106.9
128.2
112.9
112.5
118.8
119.0
146.7
107.3
129.3
113.6
113.5
120.2
120.8
147.6
107.4
128.9
112.9
112.8
119.1
120.5
147.9
107.8
128.4
112.0
112.9
118.8
118.3
147.6
99.0
99.0
98.4
107.2
128.7
113.2
112.4
118.8
118.4
148.3
107.4
128.7
113.7
111.8
118.4
117.6
148.7
106.6
130.2
114.7
113.1
119.6
120.6
150.3
97.8
"106.2
129.9
"T13.9
"112.1
119.7
"119.7
'150.3
55.2
119.6
102.1
98.7
106.8
131.0
115.5
113.4
119.8
122.4
151.3
SURVEY OF CURRENT BUSINESS
S-12 • December 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
Annual
1990
1992
1991
Oct. |
1991
Nov. | Dec.
Feb. |
Jan.
Mar. |
Apr. | May
June
July
Sept. |
Aug.
Oct.
Nov.
'10.69
'1442
'1425
'11 48
'10.94
'12.06
'11.51
'9.52
'9.11
11.73
'1372
'11 41
'12.51
'10.98
'15.28
'12.03
'918
'10.74
10.22
'10.13
'15.73
'8.66
'6.98
'13.14
11.86
'14.56
'18.10
'10.44
'7.36
'13.57
'11.46
'7.20
'10.90
'10.64
10.73
1457
14.17
11 53
10.98
12.09
11.53
9.48
9.13
11.74
1380
11.43
12.58
10.99
15.31
12.11
9?0
10.81
1029
10.32
17.27
8.71
6.97
13.22
11.85
14.61
17.92
10.46
7.42
13.66
11.55
7.22
11.04
10.72
5. LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued
HOURLY AND WEEKLY EARNINGS §
[Dollars]
Average hourly earnings per worker, not seas.
adj.:0
Private nonfarm payrolls
Mining
Construction
Manufacturing
Excluding overtime
Durable goods
Excluding overtime
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment ...
Transportation equipment
Instruments and related products
Miscellaneous manufacturing
Nondurable goods
Excluding overtime
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and misc. plastics products
Leather and leather products
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
Average hourly earnings per worker, seas, adj.: 0
Private nonfarm payrolls
Mining
Construction
Manufacturing ....
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
[Dollars per hour]
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (ENR): §§
Common labor
Skilled labor
Railroad wages (average class I)
[Dollars]
Avg. weekly earnings per worker, private nonfarm: 0
Current dollars, seasonally adjusted
1982 dollars seasonally adjusted *
Current dollars, not seasonally adjusted:
Private nonfarm total
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
Transportation and public utilities
Wholesale trade
Retail trade
Finance insurance and real estate
Services
13.77
1083
10.37
11.35
10.86
9.08
8.52
11.12
1292
1083
11.77
10.30
14.08
11.29
861
10.12
9.69
9.62
16.23
802
6.57
1231
11.24
13.54
16.24
9.76
6.91
12.97
10.79
6.75
9.97
9.83
1033
1418
13.99
11 18
10.71
11.75
11.27
924
8.76
1137
1334
11 19
12.16
10.71
14.74
11.65
885
1044
9.98
9.90
16.68
830
6.77
1273
11.49
14.02
17.03
10.07
7.18
13.24
11.15
6.95
10.40
10.22
1043
1412
14.11
11 25
10.74
11.86
11.33
9.31
8.84
1142
1348
1129
12.25
10.76
15.01
11.70
886
10.47
9.98
9.87
15.76
840
6.83
1283
11.61
14.19
17.15
10.10
7.20
1326
11.18
7.03
10.47
10.32
1045
1427
13.98
11 31
10.79
11.91
11.37
933
8.84
1148
1349
11 35
12.28
10.86
15.05
11.74
893
1054
10.04
10.04
16.69
846
6.82
1288
11.61
14.22
17.39
10.14
725
1328
11.25
7.06
10.52
10.39
1049
1450
1409
11 38
1085
11.96
11.41
934
8.94
11 49
1349
11 39
12.33
10.94
15.12
11.82
908
1062
10.13
10.14
15.75
849
6.88
1298
11.68
1428
17.48
10.23
7.34
13.38
11.33
7.05
10.66
10.48
1050
1459
1404
11 29
1084
1184
11.39
934
8.85
11 46
1342
11 29
12.23
10.87
14.85
11.78
906
1058
10.14
10.08
1586
849
6.83
1290
11.60
1424
17.55
10.28
7.37
13.36
11.29
7.10
10.66
1049
1052
1452
1387
11 32
1087
1189
11.43
937
8.85
11 42
1345
11 33
12.29
10.88
14.94
11.77
907
1058
10.15
10.07
15.96
849
6.85
1288
11.59
14.23
17.92
10.24
7.39
13.47
11.36
7.10
10.81
10.54
1054
1454
14.03
11 36
10.89
11.92
11.44
934
8.89
1149
1348
11 34
12.33
10.92
14.99
11.84
911
10.63
10.18
10.13
16.76
851
6.87
1295
11.68
14.26
17.96
10.27
7.44
13.38
11.34
7.11
10.80
10.53
1054
1452
1402
11 41
1096
1195
11.49
935
8.91
11 60
1364
11 40
12.30
10.98
14.97
11.88
9 13
1071
10.27
10.20
1725
856
6.98
1302
11.64
14.39
17.92
10.33
7.47
13.43
11.34
7.12
10.75
10.50
1055
1445
1405
11 44
1094
1202
11.49
940
8.95
11 65
1365
11 43
12.38
10.99
15.17
11.86
9 10
1069
1022
10.23
1752
858
6.96
1305
11.66
14.39
17.78
10.33
7.41
13.39
11.35
7.12
10.76
1047
1053
1451
14.09
11 45
10.93
12.04
11.50
941
8.99
11 66
1369
11 43
12.44
11.06
15.18
11.90
912
1069
1020
1021
18.13
860
6.97
1303
11.67
14.38
17.62
10.36
7.41
13.40
11.33
7.10
10.70
10.42
1053
1447
14.05
1146
10.96
12.03
11.52
946
9.00
11 68
1377
11 39
12.49
11.05
15.12
11.93
911
10.73
10.24
10.18
18.38
860
6.94
1313
11.76
14.49
17.70
10.39
7.28
13.43
11.38
7.10
10.73
10.41
r
1066
1056
r
1457
1445
r
14.20 " r14.18
1144
11 53
'11.00
10.91
r
12.04
12.09
'11.57
11.49
r
948
949
9.04
9.09
'11 83
11 68
1374
'1393
r
11 41
11 43
r
12.49
12.45
'11.05
11.03
r
15.21
15.27
'r 12.03
11.93
913
908
' 10.82
10.70
r
10.29
10.18
r
10.22
10.13
r
16.02
1620
868
862
'7.00
6.96
r
1335
1307
'11.93
11.79
r
14.64
14.47
'17.93
17.72
'10.46
10.38
'7.35
7.36
13.50
13.61
'11.46
11.43
721
7.10
10.84
10.84
10.45
10.61
10.01
13.68
13.77
10.83
12.97
10.79
6.75
9.97
9.83
10.33
14.18
13.99
11.18
13.24
11.15
6.95
10.40
10.22
10.40
14.25
14.01
11.27
13.24
11.21
7.02
10.48
10.30
10.42
14.35
13.98
11.30
1327
11.25
7.04
10.54
10.35
10.46
14.43
14.02
11.32
13.34
1127
7.06
10.62
10.39
1046
14.43
13.99
11.27
13.34
11.27
7.07
10.62
10.41
10.51
14.45
13.93
11.34
13.43
11.33
7.09
10.73
10.47
10.55
14.50
14.06
11.37
13.41
11.35
7.12
10.78
10.50
10.52
14.46
14.03
11.42
13.43
1129
7.09
10.68
10.46
10.56
14.49
14.09
11.44
13.44
11.37
7.12
10.76
10.49
10.58
14.52
1420
11.44
13.47
11.38
7.11
10.76
10.53
10.58
14.50
14.11
11.45
13.43
11.38
7.14
10.76
10.53
10.66
14.55
14.21
11.51
13.53
11.51
7.16
10.96
10.61
10.63
'14.54
'14.07
'11.51
13.56
'11.44
7.18
10.84
10.59
10.65
'14.57
'14.15
'11.50
'13.54
'11.48
'7.19
'10.91
'10.62
10.71
14.66
14.17
11.53
13.66
11.55
7.20
11.07
10.68
1833
23.92
1608
1888
24.76
1568
1911
25.09
1549
1914
25.19
1510
1914
25.19
1604
1914
25.19
1613
1914
25.19
1686
1924
25.18
1661
1930
2521
1710
1932
25.27
1691
1932
25.30
16'.67
1945
25.49
16.34
1967
25.68
16.41
1973
25.75
'16.62
1973
25.76
16.42
19.75
25.81
345.35
25947
354.32
25564
356.72
25553
358.45
25585
360.87
25703
358.78
25536
363.65
25827
363.98
25723
360.84
25447
365.38
25731
362.89
25484
362.89
25430
368.84
25757
364.61
25408
367.43
255.16
.371.64
257.55
34535
60329
52601
441 86
468.76
40480
504.53
411 10
19440
35693
31948
35432
62959
53302
45503
48293
41969
512.39
42482
19877
37128
331 13
35879
62693
55311
46238
493.38
42508
511.84
42708
19965
371 69
33334
35844
63502
52844
46710
49546
43003
51 1 .28
42863
20050
37451
33560
36400
64815
53401
47455
50471
43648
517.81
43507
20586
38589
341 65
35490
63321
51527
45837
48544
42426
506.34
426 76
19738
37950
33673
35978
63743
50764
45959
48868
42320
517.25
43395
201 64
39348
34255
361 52
63685
52332
46462
493.49
42733
511.12
43319
201 92
39096
34223
36047
63307
53556
46096
48995
42519
513.03
43319
20363
38378
33915
36292
63436
54655
47018
50123
43081
518.19
43471
20434
38306
33923
36434
63554
54810
471 74
50327
43295
521.26
43281
20590
38092
33865
36434
62510
54655
46642
495.64
43027
526.46
43472
20803
381 99
34041
36960
64303
55380
47018
499.66
434.42
53325
44006
21016
39349
34485
'36564
'641 08
'526 08
'472 73
'496.90
'441 46
532.15
'436 63
20909
38482
'341 64
'368.81
'641 69
'555.75
'47412
'504.11
'437.12
'529.23
'437 77
'206.64
'38804
'34474
37126
648 37
531.38
479.65
508.99
443.21
53820
443 52
207.?1
401 86
350 54
1001
1368
EMPLOYMENT COST INDEX
[June 1989=100]
Total compensation:
Civilian workers t •
Workers, by occupational group:
White-collar workers
Blue-collar workers
Service workers
Workers, by industry division:
Manufacturing
Nonmanufacturing
Services
Public administration
Wages and salaries:
Civilian workers t
Workers, by occupational group:
White-collar workers .
Blue-collar workers ..
Service workers
Workers, by industry division:
Manufacturing
Nonmanufacturing
Services
Public administration
1122
1135
1142
1154
1128
111.1
113.1
1139
112.6
114.1
1146
113.5
114.7
115.8
114.4
116.2
1122
112.3
1146
1126
1140
113.3
1155
1140
1147
114.1
1163
1146
115.7
115.3
1182
115.8
1106
111.5
112.1
113.0
111 3
1089
111 3
112.2
109.8
111 9
112.8
110.6
1124
113.7
111.3
113.4
1103
1107
1130
1109
111.5
111 5
1137
111.9
112.2
1120
1143
112.4
112.9
1130
1159
113.1
HELP-WANTED ADVERTISING
Seasonally adjusted index 1967=100
See footnotes at end of tables.
128
93
88
89
90
85
89
93
90
93
92
91
93
'90
92
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 190-91
1991
Annual
1990
December 1992 •
1991
S-13
1992
Oct. | Nov.
Jan. | Feb.
Dec.
Mar.
Apr. |
May |
June |
July
Aug. |
Oct. | Nov.
Sept.
5. LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued
WORK STOPPAGES
Work stoppages involving 1,000 or more workers:
Number of stoppages:
Beginning in month or year, number
Workers involved in stoppages:
Beginning in month or year, thousands
Days idle during month or year, thousands
44
40
6
3
1
0
1
1
3
6
6
1
4
8
5
0
185
5,926
392
4,584
12
306
10
362
1
416
0
393
2
369
3
367
14
388
10
322
239
738
4
113
7
283
'16
M4
0
90
20184
2,514
2.4
18,058
115,957
161.64
23222
3',332
3.1
25,446
155,120
169.97
1 735
2,728
2.6
1,831
11,079
171.27
2,779
2.6
1,681
10,206
170.79
2603
3,487
3.3
2,183
13,259
170.99
2923
4,107
3.9
2,724
16,547
171.65
4,105
3.9
2,476
14,758
173.39
1,775
4,010
3.8
2,664
15,860
173.87
1 656
3,542
3.6
2,398
14,305
173.88
1 414
3,114
3.0
1,946
11,629
173.70
1 652
3,057
2.9
1,983
11,875
173.22
2040
3,029
2.9
2,049
12,342
171.70
1 444
'3,018
2.9
1,899
11,240
174.19
'1 425
2,716
2.6
1,778
10,559
' 174.42
10.4
34.1
21.1
32.6
21.1
'280
'580
UNEMPLOYMENT INSURANCE ?
State programs:
Initial claims thousands
Average weekly insured unemployment, thousands
Rate of insured unemployment, percent @
Total benefits paid, mil. $
Weeks of unemployment compensated, thousands
Average weekly benefit, dollars
Federal civilian employees unemployment insurance
(UCFE):
Initial claims, thousands
Average weekly insured unemployment, thousands
Total benefits paid, mil. $
Weeks of unemployment compensated, thousands
Average weekly benefit dollars
Veterans unemployment insurance (UCX):
Initial claims, thousands
Average weekly insured unemployment, thousands
Total benefits paid mil $
Weeks of unemployment compensated, thousands
Average weekly benefit, dollars
131.7
24.1
137.1
30.7
159.0
1,077.5
148.04
214.0
1,393.3
153.71
132.9
1540
22.4
18.4
131 7
773.3
170.58
167.8
926.8
179.49
14.1
31.0
18.8
120.7
155.50
1891
11.6
30.3
17.6
14.3
35.5
21.2
110.9
158.56
134.0
157.94
170
142
200
28.2
18.6
27.9
41.6
102.1
181.06
176
95.6
183.74
288
151.7
189.87
15.3
36.6
23.4
145.4
160.90
25.4
53.4
39.5
216.6
182.20
1887
9.1
93
34.7
20.2
32.6
20.9
123.4
163.98
127.5
163.67
18.3
59.1
39.8
196
59.2
10.1
28.0
18.2
110.6
164.27
18.7
56.3
9.7
25.6
15.9
97.2
163.50
17.6
53.8
138
27.5
17.8
17.9
31.6
20.4
108.5
163.68
125.6
162.18
21 8
252
56.3
41.4
57.0
44.1
214.4
185.45
430
232.3
185.31
41 5
224.7
184.57
382
205.9
185.35
221.4
187.08
233.3
189.24
41 375
534,540
397,939
216 796
181,143
136601
39309
538075
401,877
221480
180,397
136198
39335
546398
400,697
226667
174,030
145 701
38384
536,585
394,322
223381
170,941
142263
37767
544730
405,597
234447
171,150
139133
37733
543,172
403,160
226490
176,670
140012
131.6
160.04
24.6
61.8
44.6
120
130.6
161.46
262
r
1 449
'2,439
2.3
'1,601
'9,465
175.37
153
'32.1
'20.2
'124.9
'162.95
'254
257.8
194.03
'65.9
'51.7
'265.4
'194.68
37090
540,369 549,714
401,189 413,010
228,807 235615
172,382 '177,395
139180 136704
551,067
404,773
222,349
182,424
146294
233.9
190.67
66.1
50.0
1 546
2,572
2.5
1,601
9,463
175.47
11.8
33.6
20.6
124.0
166.46
191
69.5
53.0
270.4
196.08
6. FINANCE
BANKING
[Millions oi dollars]
Open market paper outstanding, end of period:
Bankers' acceptances
Commercial and financial company paper total
Financial companies
Dealer placed
Directly placed
Nonfinancial companies
Loans of the Farm Credit System:
Total end of period .
....
Long-term real estate loans
Short-term and intermediate-term loans
Loans to cooperatives
Federal Reserve banks, condition, end of period:
Assets total*
Reserve bank credit outstanding, total #
Loans
U.S. Government securities
Gold certificate account
Liabilities total #
Deposits total
Member-bank reserve balances
Federal Reserve notes in circulation
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
Required
Excess
Borrowings from Federal Reserve banks
Free reserves
Large commercial banks reporting to Federal Reserve
System, last Wed. of mo.:
Deposits:
Demand total #
Individuals, partnerships, and corporations
States and political subdivisions
U S Government
Depository institutions in U.S
Transaction balances other than demand
deposits
Nontransacton balances total
Individuals, partnerships, and corporations
Loans and leases(adjusted),total §
Commercial and industrial
For purchasing and carrying securities
To nonbank depository and other financial
Real estate loans
To States and political subdivisions
Other loans
Investments, total
U.S. Treasury and government agency
securities, total
Investment account . . .
Other securities
See footnotes at end of tables.
54771
557811
420,398
221362
119,036
137413
43770
528124
403,556
221 093
182463
124568
51,172
29416
10,673
11 083
51457
28767
11 223
11 467
327 573
353 061
289,394
218
281,831
11 059
44910
525 624
392,341
211 801
180,540
133283
43947
529699
394,731
213350
181,381
134968
43770
528 124
403,556
221 093
182,483
124 568
43112
535 802
403,157
221 310
181,847
132645
51,457
28767
11,223
11467
52,242
28775
11,398
12069
52,098
28776
10,650
12671
330,347
271,536
62
265,423
1 1 ,058
330347
49,783
29,413
287,906
333,129
272,481
112
266,148
11,058
333,129
40,595
29,195
280,117
36,659
30,688
281,605
274,013
52
267,601
11,057
335 971
36,952
29,480
283,383
53,057
52,165
892
108
786
55,532
54,553
979
192
788
55,812
54,809
1,003
233
771
55,238
54,174
1,065
77
990
56,282
55,254
1 028
91
939
244 247
194,355
8342
3,397
22,503
255 000
204,158
8845
2,158
23,508
230 582
182,976
7792
1,787
20,130
233,222
184,674
8026
1,771
22,077
236 975
188,976
8059
1,535
21,004
52,366
28815
11,505
12047
332,729
277,354
150
271,052
11,057
332 01 1 332 729
29,527
32,960
27,801
23,503
286,457 289,684
344466
283,729
1,359
276,883
11,060
344 466
36,839
22,740
290,772
347656
282,069
256
275,969
11,060
347656
40,270
25,302
294,107
343,638
288,180
244
282,153
11,059
343,638
36,206
29,422
295,876
364 084
50,455
49,318
1,137
90
1,049
48,825
47,825
1,000
155
845
49,496
48,584
913
229
684
49,823
48,857
965
284
681
50,162
49,227
935
251
684
51,521
50,527
994
287
707
'53,136
'52,062
'1,074
143
244 783
194,581
8,107
3,544
21,629
247,411
194,793
8,031
1,411
24,959
235 901
187,252
8,985
2,162
21,221
240,649
194,223
7,747
1,790
20,731
240,184
193,149
7,784
1,749
20,546
265,732
215,316
8,484
2,359
21,839
255,487
206,700
8,245
1,471
22,557
96,188 101,757
99,453 100,503 102,383 101,466
101,757
91,751
788004 780087 777,657 788 004 780,392 778,947 774,935 771,221
758,036 748,624 746,642 758,036 749,284 746,634 744,372 740,092
1,072,019 1,027,027 1,008,330 1,007,962 1,027,027 1,015,587 1,013,644 1,015,170 1,014,895
288696 288 876 289163 286 598
321 314
295 727 294318 294 246
294 246
14197
14351
14104
13371
14096
13129
13725
14817
14817
21832
23123
22499
22022
21 961
22529
23032
24462
23123
398 753
402887 396 067 395619 402,887 402,432 400,945 400,247 403,272
16822
17221
17866
17167
17345
17876
21 054
17876
18091
270,988 271,399 271,897 272,146
293,307
274,078 262,191 262,776 274,078
276,532 279,824 282,554 284,194 288,374 293,551 291,547
238,932
282,554
101,775
767,467
735,992
999,071
283 940
14034
21372
400,688
16972
262,065
292,835
100,711
758,296
729,710
996,078
280 193
14198
20671
399,491
16380
265,145
298,786
102,188
754,062
726,714
984,175
276 467
14620
20,185
397,707
15719
259,477
302,190
103,318
749,281
721,372
983,304
274 996
15,736
20,116
395,266
15606
261,584
315,333
106,316
739,351
713,747
936,072
278 594
15932
21,665
396,927
15631
207,323
378,429
110,515
736,595
710,088
989,342
276,773
16,261
21,519
398,901
15239
260,649
321,659
239,486
218,174
53,349
245,996
226,889
52,790
248,189
229,185
54,001
259,952
240.364
55,381
323,424
246,763
55,005
266,417
244,183
55,242
329519
271,992
106
265,213
11,058
329519
34,129
27,246
282,027
353061
289,394
218
281,831
11,059
49,783
29,413
287,906
333357
274,061
153
267,675
11 059
333357
44,061
25,513
276,792
59,150
57,456
1 665
326
1 362
55,532
54,553
979
192
788
51,584
50,501
1 083
261
834
278 721
218,263
9315
255000
204,158
8845
4,831
28,334
23,508
221 790
177,964
6984
1,634
20,553
262,002
190
252,103
11 058
327 573
48,228
38,658
267,657
353 061
2158
353 061
335 971
332011
274,830
115
267,945
11 057
91,138
797 701
762,580
177,816
167,790
61,116
225,344
206,837
57,210
220,133
201,209
56,399
223,497
203,402
56,327
225,344
206,837
57,210
228,768
208,104
55,426
233,951
212,090
54,423
239,304
215,998
54,247
237,039
214,340
.54,508
303,724
609
296,397
11,059
364 084
53,094
27,665
297,609
346817
288,917
80
282,877
1 1 ,060
346817
34,484
29,339
300,010
'931
355 187
301,688
35
295,952
11,059
355,187
37,841
30,349
306,863
54,671
53,620
1,051
104
947
SURVEY OF CURRENT BUSINESS
S-14 • December 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1963-91
Annual
1990
|
1991
1991
1992
Nov. | Dec.
Oct.
Jan. |
Feb. |
Mar. |
Apr. | May
June |
July
Aug. |
Sept.
Oct. | Nov.
6. FINANCE-Continued
BANKING-Continued
[Billions of dollars]
Commercial bank credit, seas, adj.: §
Total loans and securities 0
U.S. Government securities
Other securities
Total loans and leases 0
[Percent]
Money and interest rates:
Prime rate charged by banks on short-term
business loans
Discount rate (New York Federal Reserve
Bank) @
Federal intermediate credit bank loans
Home mortgage rates (conventional 1st
mortgages):
New home purchase (U S avg )
Existing home purchase (U.S. avg.)
Open market rates, New York City:
Bankers' acceptances 3-month
Commercial paper, 6-month $
Finance co. paper placed directly, 6-mo
Yield on U.S. Gov. securities (taxable):
3-month bills (rate on new issue)
r
r
28387 r 28520
r
566.2
562.6
r
1794 r r1797
r
2 096 6 21061
r
r
r
28631
28775
r
r
579.5
592.3
r
r
178.1
1785
r
r
2,1 05 5 21067
r
r
28776
28837 r 28843 r 28970
r
601.7 rr611.6 rr 61 9.4 rr 634.0
r
177.7
1771
1756
1776
r
2 098 8 r 2 096 5 r2 087 3 r 2 085 2
r
27236
454.2
175.6
2,093 8
28384
562.6
179.3
20965
28055
538.7
1779
20889
1001
846
800
758
721
650
650
650
650
650
650
602
600
600
600
600
698
545
500
458
411
350
350
350
350
350
350
302
300
300
300
300
2
968
2
9.73
901
9.04
878
878
838
843
828
825
817
8.02
829
8.15
821
8.14
826
8.26
830
820
815
804
781
778
772
7.58
768
744
7.93
7.95
7.53
5.70
5.85
5.60
521
5.33
5.12
485
4.93
4.76
4.42
4.49
4.31
3.97
4.06
3.95
4.00
4.13
3.96
419
4.38
4.15
392
4.13
3.89
376
3.97
3.77
380
3.99
3.80
332
3.53
3.35
3.28
3.44
3.29
310
3.26
3.11
319
3.33
3.23
7.510
5.420
5.030
4.600
4.120
3.840
3.840
4.050
3.810
3.660
3.700
3.280
3.140
2.970
2.840
748,300
742,058
729,782
729,758
742,058
733,294
725,882
721,091
718,676
718,420
719,845
718,599
721,985
r
724,198
722,700
347,466
137,450
92,911
43552
45,616
4,822
76,483
339,565
121,901
92,254
44030
40,315
4362
99,631
334835
124,299
92128
38147
41,691
4529
94,153
333,272
123,228
91 849
39460
41,337
4,388
96,224
339,565
121,901
92,254
44030
40,315
4,362
99,631
335320
119,206
91 894
41 567
39,448
4377
101,482
330,464
120,280
91,469
40015
38,479
4,151
101,024
327,697
118,353
91,164
39454
37,142
3,988
103,293
326,205
118,364
91,339
39553
36,499
4,094
102,622
324 791
116,138
91 605
37824
36,224
4193
107,645
324,171
116,690
92340
37438
35,782
4360
109,064
323,899
117,002
91,778
37219
'35,552
4,506
108,643
323 866
117,175
92270
38791
35,378
4542
109,963
324,046 324,424
•• r11 6,650 114,702
92 698 92,941
39299
38778
35,069
34,681
4499
4,452
M 12,458 112,201
28227
550.8
1788
20932
28548
r
571.2
r
1805
r
21031
29244
29130
r
645.7
638.7
r
1780
178.9
r
2 096 3 2099.8
3.140
CONSUMER INSTALLMENT CREDIT t
[Millions of dollars]
Not seasonally adjusted:
Total outstanding (end of period) #
By major holder:
Commercial banks
Finance companies
Credit unions
Retailers
Savings institutions
Gasoline companies
Pools of securitized assets
By major credit type:
Automobile
Revolving
Mobile home
Other
Seasonally adjusted:
Total outstanding (end of period) #
By major credit type:
Automobile
. ..
Revolving
Mobile home
Other
Total net change (during period) #
By major credit type:
Automobile
Revolving
Mobile home
Other
259128 r260 395 259 626
247 051 r 248 692 249 715
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
<3)
3
3
r3
3
3
223 055 3 223 458 3223160 3 223 055 3999103 3 221 071 3 219 294 217519 3 216 440 217311 3 21 5 834 3 21 5 806 215111 21 3 359
284813
232 370
20666
210451
263108
255 895
..
266 747
239 577
263 249
243349
263108
255 895
261 871
249 320
259 723
245088
259 530
242 267
258449
242 708
258665
243315
257 442
245 092
258104
244661
729,225
727,960
727,799
728,618
728,395
727,404
723,821
722,928
722,919
721,820
720,664
r
722,104
722,317
264420
241 436
262 383
242 573
263 003
242 785
263 134
244288
261 659
245 974
262 125
245 259
260 376
245 905
259 834
246220
257 339
247418
257743
247 332
256944
248043
r
257 384
r
257,412
251 653
(3)
3
(3)
(3)
(3)
223 369 3 223 004 3j?99ni9
-161
1 776 -1 265
-201
2449
(3)
3
-473
-2,037
1 137
3
221 196
819
620
131
1 503
212
(3)
(3)
*-365
31
-992
(3)
3
-816
(3)
3
(3)
(3)
(3)
(3)
220 762 3 220 020 3 21 7 541 3 21 6 874 3218162
-223
-991
-3583
-893
-9
-1,475
1 686
-1,749
646
466
-715
(3)
(3)
*-434
3
-742
3
(3)
-2479
-542
315
(3)
3
-667
-2,495
1 198
(3)
3
3)
(3)
3
250017
(3)
(3)
21 6 744 3 21 5 677 r3214703 3 21 3 252
r
213
-1 099 -1 156
1 440
404
-86
(3)
1288 s-1418
-799
711
3
(3)
-1067
r
r
440
1 974
28
1 636
(3)
3
' -974
-1 451
FEDERAL GOVERNMENT FINANCE
[Millions of dollars]
Federal receipts and outlays:
Receipts (net)
Outlays (net)
Total surplus or deficit (-)
Federal financing, total
Borrowing from the public
Other
Gross amount of debt outstanding
Held by the public
Federal receipts by source and outlays by
agency:
Receipts (net), total
Individual income taxes (net)
Corporation income taxes (net)
Social insurance taxes and contributions
(net)
Other
Outlays (net) total
Agriculture Department
Defense Department, military
Health and Human Services Department
Treasury Department
National Aeronautics and Space
, Administration
Veterans Affairs Department
'1,031, 374
M
251,683
1
-220,460
1
220,460
1
263,384
'6098
1
3 088 716
1
2 351 ,085
1
1,054,265
1
1 323 757
1
1
1
1,031
,374
1
467 243
1
93 506
78,068
114660
-269,492 -36 592
1
269,492
36,592
1
293,239 40,657
1
25 303
4681
1
3 489 997 3 651 127
1
2 628 699 2 727 824
1
380,047
1
90 670
1
1,251
,683
1
46 013
1
289,773
1
438 678
1
254 597
73,087 138,503
78,218
118,344
76,833
62,218
62,303 120,920
79,080
112,943 125,698
111,391 123,799 123,894 109,089 117,137 122,226 102920
-49,174 -50,712
14,609 -46,786
3,783 -43,146 -24,702
5,400 -48,865
49,174
50,712 -14,609
46,786 -3,783
24,702
48,865
43,146
-5,400
38,841
20,938
50,138
6,292
33,840
22,318
28,290
9,853 -1,552
-27 821
776
20901 -13095
14139
26101 -16307
15253 -50417
3 762 074 3 81 1 671 3822222 3865111 3918787 3 942 569 3 983 735 4002815 4006113
2 809,534 2,859,672 2 867 085 2 900 925 2 923 243 2 950 083 2 988 923 ? 998 776 2 997 224
78,068
39332
1 171
73,194
31 987
1,516
103,662
41 722
21,719
104,091
60451
2992
62,056
22213
1,220
28,435
9132
97 581
1,323,757 114,660
^4120
6376
^99,1 96
22,765
1
483
936
42710
1
276 887
17457
31,502
8189
117,878
5926
24,780
44655
21 486
30,996
9225
106,199
5761
23,094
43,576
49929
31,832
8765
119,755
4372
24,806
44126
18296
32,282
6,342
111,230
3906
23,262
43,595
20185
34,237
7434
123,629
5462
22,109
43,303
21 375
1,054,265
1
467 649
1
98,086
1
396,010
1
1
73,194 103,662 104,094
117878 106,199 119758
-44,684 -2,537 -15,664
2,537
15,664
44,684
25,641
22,825
11,449
-19826
20181
-4253
3681 196 3 736 276 3 743 534
2,753 465 2 776,290 2 788 596
72,917 138,430
19503
67993
1 1 ,742 14198
62,244
12012
2691
120,909
53072
20784
79,074
35098
2732
78,216
34715
1 579
118,344
55496
19896
76,833
37288
2096
47,461
8779
123,821
5080
22,948
45,693
19756
40,362
7179
109,029
5007
23,379
44316
22801
38,380
8672
117,126
3912
24,868
49575
49230
31,722
9522
122,220
3595
29,180
48176
17536
33,139
8782
102,918
3266
20,538
43333
18403
33,322
9629
112,943
3922
24,902
46703
16536
29,594
7854
125,698
7051
26,233
48427
18 116
1
12,429
1
1
13,878
1
31 214
1,251
3048
1,194
4039
1,308
2614
1,035
2445
1,044
3114
1,294
1 804
1,148
2898
1,133
2686
1,151
2514
1,179
4010
1,076
1 361
1,149
3201
1,098
4061
11 061
384.08
11 059
362.04
11 059
358.68
11 058
359.53
11 057
361.06
11 058
354.45
11 058
353.89
11 057
344.34
11 057
338.50
11 057
337.24
11 059
340.81
11 059
353.05
11 059
342.96
11 059
345.55
344.38
335.08
4.819
4.040
4.100
4.060
3.910
4.120
4.140
4.100
4.030
4.070
4.060
3.950
3.800
3.760
3.740
3.760
28 999
GOLD AND SILVER:
Gold:
Monetary stock U S (end of period) mil $
Price at New York, dot. per troy oz. $$
Silver:
Price at New York, dol. per troy oz. $$
See footnotes at end of tables.
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1953-91
Annual
1990
|
December 1992 •
1991
Oct. |
1991
S-15
1992
Nov. |
Dec.
Jan. |
M *-l '
flay |
Feb.
Aug. I
June | July |
Sept. |
Oct. |
Nov.
6. FINANCE-Continued
MONETARY STATISTICS
[Billions of dollars]
Currency in circulation (end of period)
Money stock measures and components (averages of
daily figures):
Measures (not seasonally adjusted):
287.0
307.7
8120
8604
34027
41605
49858
M2
32983
M3
L (M3 plus other liquid assets)
4,092.8
4,932.2
Components (not seasonally adjusted):
Currency
.
. . .
Demand deposits
Other checkable deposits **
Overnight RP's and Eurodollars 0
General purpose and broker/dealer money
market funds
Money market deposit accounts
Savings deposits
Small time deposits @
Large time deposits @
Measures (seasonally adjusted):
2355
277.6
291 0
81.2
333.2
501 1
911.3
1,160.5
525.5
307.7
8755
r
34133
r
41499
4,966 1
r
r
9173
8939
34349 ^34536
41691 4181 7
4,996.7
5,008.3
3032
9182
9168
9308
9547
9440
9521
9706
1 001 2 1 021 9
9830
9630
'34555 '3 461 6 '34763 '34896 '34553 '3 460 0 '34647 '34702 '34733 '34923 35105
41788 41882 '41969 '41962 '4 1644
41638 '41639 '41788 '41735 '41743 41922
49986 '5 002 4 '5 026 9 '5 027 6 '4 986 0 50009 '49976 '50182 '50329 50399
2595
2631
2801
3128
69.5
2837
3206
•70.0
2663
291 1
3288
'73.7
2700
3030
3365
'76.2
2678
3000
3425
'77.7
357.4
(i)
1
1,01 3.3
1 0971
4502
358.6
(i)
1
1,028.5
1 0801
441.9
358.1
(i)
1
1,038.7
1 0634
435.5
3582
(i)
1
1,055.4
1 0461
4249
8809
'34179
r
41590
49763
8981
891 4
r
34316 '34398
4171
0
41669
49894 49881
3629
(i)
> 980.0
1 1299
471 9
M2
M3
L (M3 plus other liquid assets)
Components (seasonally adjusted):
Currency
Demand deposits
Other checkable deposits $$
Savings deposits
Small time deposits @
Large time deposits @
2660
2673
2876
2895
3297
3332
M 0150 1 1 028 7 M 0426
1 0952 1 0792 1 0630
4423
4371
4500
2648
2838
3245
3179
3109
271 0
2695
2964
3432
'77.6
1
3667
(i)
1,078.1
1 0224
4194
1
2734
3021
3129
3500
'74.6
3608
'72.6
2757
3075
2773
3531
'69.2
3623
3673
3540
(i)
(M
fM
1,1 00.5 'U15.7 M!l22.4
1 0032
9843
'9658
4135
4024
4045
1
2808
2829
3106
3172
3192
356 1
'72.0
3564
'72.4
3597
'75.8
'3509
(i)
1,132.2
9527
3969
1
'3473
(i)
1,1 40.0
'9421
3883
1
'3480
0
1,148.5
'9273
3866
2847
3254
'3640
'74.1
rl
2870
'3360
'3695
'75.0
'3459
'3435
(i)
(i)
1,158.0 "1,169.6
'9005
'9146
'3733
381 5
931 0
9390
9428
1 0073
9543
'951 7
'9605
9731
9886
'34476 '34744 '34757 '3471 5 '34730 '34641 '3461 6 '34712 '3481 9 '34971
41737 41987 4191 8 '41794 '41787 41667 '41629 '41761 '41824 '41838
'4 980 6 '5 009 1 50199 '50127 '5 002 5 50137 '5 006 0 '5 024 6 '5 043 1
5051 0
9104
2694
2939
3390
271 6
3051
3463
M 0612 1 1 083 9
1 0429 1 0198
4279
4207
2901
3434
380 1
74.7
1
3476
0
1,181.0
8853
3690
1 0190
35072
41901
271 8
2736
2747
2762
2823
2884
2900
2789
2864
311 2
3096
3151
'3362
3392
311 0
3156
'3206
3278
3495
3500
'3740
3564
3582
3622
381 2
3567
3661
1
1 098 0 M 111 2 M 1224 M 1270 M 1344 M 1456 'M 1596 'M 171 6 M 181 6
1 0028
'8988
9562
'9280
'9152
9853
8845
9687
9424
3800
4130
4057
3732
3695
4009
3953
'3846
3885
PROFITS AND DIVIDENDS (QTRLY.)
[Millions of dollars]
Manufacturing corps. (Bureau of the Census):
Net profits after taxes, all manufacturing
Food and kindred products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Stone clay and glass products
Primary nonferrous metal
Primary iron and steel
Fabricated metal products
Machinery (except electrical)
Electrical and electronic equipment
Transportation equipment (except motor vehicles
and equipment)
Motor vehicles and equipment
All other manufacturing industries
Dividends paid (cash), all manufacturing
111,319
16,074
429
4,817
23,412
17,967
-916
2,516
583
4,638
11,205
6,409
67,965
19,639
833
2164
-369
20,558
10,868
-1,602
986
-1439
3359
-2,740
4,706
4,210
19,756
62,197
2,694
-7607
15,404
60,222
127,938
34693
172576
43809
5,065
-552
24,341
5,085
294
796
6268
2252
8,676
3,971
460
1889
-1,424
-575
401
-232
-1 148
274
-1 266
1,903
-140
1 060
1 637
1,847
234
-2658
2711
196
526
4694
15873
14815
SECURITIES ISSUED
[Millions of dollars]
Securities and Exchange Commission:
Estimated gross proceeds, total
By type of security:
Bonds and notes, corporate
Common stock
Preferred stock
By type of issuer:
Corporate total #
Manufacturing
Extractive
Public utility
Transportation
Communication
Financial and real estate
State and municipal issues (Bond Buyer):
Long-term
Short-term
14034
2203
19,215
853
19,748
1 962
15,050
999
16019
7423
19282
71.0
71.1
73.0
77.1
70.6
7417
18123
3344
18362
970
27601
8527
2681
20987
3337
19073
12905
19504
826
75.8
76.1
74.3
'729
17,497
SECURITY MARKETS
[Millions of dollars, unless otherwise indicated]
Stock Market Customer Financing
Margin credit at broker-dealers end of year or month
Free credit balances at brokers, end of year or
month:
Margin-account
Cash-account
Bonds
Prices:
Standard & Poor's Corporation, domestic municipal
(15 bonds) do/ per $100 bond
Sales*
New York Stock Exchange, exclusive of some
stopped sales, face value, total
See footnotes at end of tables.
28210
8050
19,285
66.0
10,892.70
68.8
12,698.11
71.4
1,104.51
899.00
1,037.61
1,274.73
1,251.32
1,124.58
71.0
924.16
71.7
840.52
73.7
904.49
999.56
867.62
859.79
981.83
73.6
756.31
SURVEY OF CURRENT BUSINESS
S-16 • December 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1953-91
1991
Annual
1990
|
1991
Oct.
1992
Nov. |
Dec.
Jan. |
Feb.
Mar. |
Apr.
May |
June |
July |
Aug. |
Sept. |
Oct.
Nov.
6. FINANCE-Continued
Bonds-Continued
[Percent]
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa
A
Baa
By group:
Industrials
Public utilities
Railroads . . . .
. .
Domestic municipal:
Bond Buyer (20 bonds)
Standard & Poor's Corp (15 bonds)
U.S. Treasury bonds, taxable £
9.77
9.23
8.99
8.93
8.75
8.64
8.75
8.81
8.77
8.71
8.63
8.44
8.29
8.26
8.41
8,51
9.32
8.77
8.55
8.48
8.20
8.35
8.33
7.95
7.92
7.99
8.10
883
908
878
901
873
889
869
887
856
870
837
849
821
834
817
831
9.80
9.49
9.45
9.26
9.13
9.25
9.21
828
863
881
913
8.07
905
930
829
869
883
923
8.22
956
982
10.36
831
861
882
9.05
8.84
8.65
977
925
898
893
874
861
873
877
875
870
861
842
9.76
9.21
8.99
8.93
8.76
8.67
8.77
8.84
8.79
8.72
8.64
8.46
7.31
6.90
6.69
6.78
6.58
6.65
6.74
6.77
6.69
6.58
6.42
725
745
659
664
663
641
667
669
664
657
650
8.74
8.16
7.88
7.83
7.58
7.48
7.78
7.93
7.88
7.80
7.72
851
872
832
840
8.62
8.49
8.84
8.58
8.96
823
819
838
8.34
8.32
8.44
8.49
8.53
5.89
6.31
6.33
6.52
612
608
624
7.40
7.19
7.08
7.26
7.43
Stocks
Prices:
Dow Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks)
Standard & Poor's Corporation, 1941-43=10
unless otherwise indicated: §
Combined index (500 Stocks)
Industrial, total (400 Stocks) #
Capital goods
Consumer goods
Utilities (40 Stocks)
Transportation (20 Stocks), 1982=100
Railroads
Financial (40 Stocks), 1970=10
(sdbcategories in 1941-43=10)
Money center banks
Major regional banks
Property-Casualty Insurance
N.Y. Stock Exchange common stock indexes,
12^1/65=50:
Composite
Industrial
Transportation
Utility
Finance
NASDAQ over-the-counter price indexes:
Composite 2/5/71=100
Industrial
Insurance
Bank
NASDAQ/NMS composite, 7/10/84=100
Industrial . . . .
Yields (Standard & Poor's Corp.), percent
Composite (500 stocks) 0
Industrials (400 stocks)
Utilities (40 stocks)
Transportation (20 stocks)
Financial (40 stocks) .
Preferred stocks, 10 high-grade
Sales:
Total on all registered exchanges (SEC):
Market value mil $
Shares sold, millions
On New York Stock Exchange:
Market value mil. $ .
Shares sold (cleared or settled) millions
New York Stock Exchange:
Exclusive of odd-lot stock sales (sales
effected), millions
NASDAQ over-the-counter:
Market value mil $
Shares sold millions
Shares listed, NYSE, end of period:
Market value, all listed shares, bit. $
Number of shares listed millions
965.24
2,678.94
211.53
1,040.24
1 ,048.27 1 ,087.94 1,082.22 1 077.52
2,929.32 3,019.73 2,986.12 2,958.64
21354
216.67
21032
21927
1,170.22 1,283.07 1,237.09 1,233.31
1 16627 1,174.23 1,169.58 1 167.58 1,195.56 1,174.92 1,170.50 1 154.13 1,156.92 1,138.91
3,227.06 3,257.27 3,247.41 3,294.08 3,376.78 3,337.79 3,329.40 3,307.45 3,293.92 3,198.69
21572
21315
21246
219.07
217.15
20684
20438
20607
22019
220.03
1,378.73 1,412.23 1 ,408.98 1,356.85 1 ,380.45 1,333.28 1,303.10 1,254.65 1,275.19 1,286.16
385.92
454.97
294.10
568.32
146.66
315.86
293.12
388.51
458.00
290.14
596.37
14881
312.73
291.18
416.08
493.37
320.61
632.83
14970
340.35
302.20
412.56
490.89
322.78
630.66
14306
348.31
304.54
407.36
484.86
317.67
621.24
13945
346.73
298.38
407.41
484.53
312.79
617.42
141 61
344.98
313.39
414.81
490.72
319.45
618.26
14725
356.62
335.10
408.27
481.96
312.12
598.89
14679
342.07
322.35
415.05
487.16
309.35
617.31
153.70
334.44
315.56
417.93
490.88
305.32
627.14
14997
321.77
305.61
418.48
493.56
307.68
627.04
155.36
323.19
304.24
412.50
483.33
300.35
614.96
154.28
327.46
310.25
422.84
496.09
306.09
640.65
152.12
351.64
330.89
31.22
125.65
376.83
31.21
9272
12776
392.32
34.36
10513
141.08
412.66
34.34
11059
145.83
401.84
34.29
10884
145.11
391.26
33.94
10728
14609
385.42
35.17
11736
154.88
383.81
34.90
11536
150.34
390.63
36.18
11886
153.07
415.77
35.78
11294
148.87
417.50
35.22
10970
145.81
424.70
36.13
111 21
149.35
460.56
38.03
11866
158.58
468.44
213.09
265.68
19574
9524
158.94
213.25
264.88
18852
96.77
159.77
21432
266.09
18568
9320
16004
22933
286.62
201 55
9930
174.49
228.11
286.09
20552
225.21
282.35
20409
22454
281.60
201 28
9617
9415
9491
174.04
173.49
171.05
228.54
285.16
20787
9823
175.89
224.67
279.53
20202
9722
174.82
228.16
281.90
19836
101 17
180.92
230.07
284.44
191 30
10341
180.46
230.12
285.76
191 64
102.26
178.27
226.97
279.69
19230
101.62
181.35
232.83
287.30
204 78
101.13
189.27
491 56
549.48
53565
319.34
217.09
21825
52892
593.57
53188
33782
233.23
23618
53658
604.36
55699
32883
236.64
24047
54410
617.10
56190
32663
240.48
23499
61573
707.59
61722
36812
272.66
301 41
63205
723.85
62469
38575
279.32
28905
61960
701.75
61756
39351
273.67
28000
58279
642.91
60057
40224
257.56
25679
581 47
630.97
61490
42879
257.43
25257
56666
608.48
61517
436.01
250.86
24357
56872
604.99
64264
456.84
251.82
24232
56900
603.07
67801
461.64
251.98
241 69
58068
621.06
68503
456.88
257.35
24913
605.17
650.83
72908
478.06
268.36
261 23
361
324
314
587
207
549
552
8.96
8.17
7.81
7.62
7.54
7.54
302
263
608
1 94
299
775
2.74
595
230
369
301
263
616
1 94
292
764
2.66
591
256
482
290
255
572
1 93
274
307
2.74
311
273
571
208
321
300
2.82
315
275
580
209
328
294
3.16
334.59
390.88
282.47
433.92
140.16
254.32
202.85
376.17
445.81
300.66
544.04
141 95
288.54
248.19
386.88
457.39
300.65
564.88
144.54
314.42
290.59
26.12
8550
95.53
342.56
29.69
9036
114.67
379.58
9910
9641
126.29
361.93
183.46
225.78
15862
9060
13326
205.48
257.09
17397
9226
150.18
40921
430.57
47143
31903
179.36
17017
31.27
3.38
7.93
2.58
599
1 90
285
299
306
2.63
2.69
580
584
300
265
558
297
262
547
1.87
1.97
2.01
2.17
2.16
2.12
294
300
289
294
298
291
7.61
7.53
7.47
7.21
7.09
7.22
7.43
4,154
1 61 1 667 1 776 305
53,338
58,031
152760
4,971
157817
5,071
154862
5,391
213054
6,915
177051
5,507
172592
5,529
170536
5,127
160568
4802
164313
5,080
163921
5,155
143874
4645
149 984
5,500
1 389 084
43826
132,782
136,256
133722
182510
5440
152516
4434
149 951
4386
147607
4227
138059
3926
143 429
4240
142,447
4299
124095
130809
3817
4710
1 531 813
47674
4127
4175
4351
39,665
45,267
4,085
3,727
4,156
5268
4292
4,082
4,320
3666
4,296
4,274
3647
4,019
4,469
377 468
27894
693854
41 264
72688
4078
64967
3708
64893
3632
108835
5509
79986
4264
73400
4045
78144
3942
57296
64635
3591
53571
3083
66 871
3126
63154
3597
75795
4227
2,819.78
90732
3,712.84
99622
3,470.09
97412
3,352.40 3,712.84
98683
99622
3,664.00
100117
3,718.28 3,654.92 3,742.72
101 214 102450 103269
3,782.33
107148
3,870.96 3,806.74
1 1 1 389 112519
3,840.63
113450
3,712.82
110121
3711
3,870.50 3,976.01
114047 114580
7. FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
[Millions of dollars]
Exports (mdse ) incl reexports total @
Seasonally adjusted
Western Europe
European Economic Community
Belgium and Luxembourg
France
Federal Republic of Germany
Italy
Netherlands
United Kingdom
Eastern Europe
USSR (former!
See footnotes at end of tables.
1,170.48
3,238.49
217.72
1,375.81
393 592 3
421 730 0
37 896 5
36 842.1
1129746
1187233
1032085
10,790.8
153654
21,316.5
85785
135281
220634
47855
3.577.6
101822
8 828.1
879.2
1 1761
1,621.8
6825
1 364.0
2161 0
98 026 8
10,448.3
136522
18,693.3
79873
130158
234841
42626
3.087.7
4196
324.8
36 969 6
372690
349961
36 053 0
99780 101780
8,678.3 8,784.4
869.1
748.2
12856 1 3266
1,740.3
1,791.7
7522
9244
12753 12755
1 7535 1 6976
5936
4940
503.0
357.3
344688 36 859 8
35,467.1 37 654.4
95620 10791 5
8,542.9 9,373.7
766.7
832.4
1 1881
1 423.7
1,962.4
1,765.9
7729
7400
1 1639 1 5231
1 7946 1 9030
39 784 3
37 084 7
11 4550
10,201.3
926.1
1 5320
2,050.8
8804
1 2314
23424
5021
4152
3414
393.3
299.6
241.7
39 055.2 35,978.7 34 887.0 r 36 839.1 40 252.4
381646 37 805 5 35 799 3 r 37 882 3 391854
94845 87440 86787 93930 103777
8,215.4 7,664.0 7,660.9 8,278.6 9,194.5
932.7
888.8
824.3
727.9
832.3
1,219.4
1,151.8 1,012.7 1 ,009.2 1,252.6
1,952.1
1,614.7 1,656.5
1,626.0 1,634.3
697.9
641.8
7272
838.0
686.9
1,071.7 1,296.2
1,050.8
983.0
919.5
2,2132
1 8152 1 6555 1 6521
1 7351
4937
5337
3963
3200
4189
4480
329.0
290.5
247.6
330.9
334.9
220.0
371727 36 695 9
36 405 8 357179
9901 2
96489
8,776.5 8 523.7
864.6
793.0
1 ,280.5 1 213.9
1,824.3
1,771.3
7622
7056
1,020.6
1,114.8
1 9863 1 9184
4859
287.3
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1963-91
Annual
1990
December 1992 •
1992
1991
1991
Oct. |
Nov. | Dec.
Jan. |
Feb. | Mar.
Apr. |
May |
June |
July |
Aug. |
Sept. |
Oct.
7. FOREIGN TRADE OF THE UNITED STATES-Continued
\
VALUE OF EXPORTS-Continued
[Millions of dollars]
Exports (mdse.), incl. reexports—Continued
Western Hemisphere:
Canada 0
Brazil
Mexico
Venezuela .
Asia:
China
Hong Kong
Japan
Republic of Korea
Saudi Arabia
Sinoaoore
Taiwan...:'".
Africa:
Nigeria
Republic of South Africa
Australia
OPEC
Exports of U.S. merchandise, total @
By commodity groups and principal commodities:
Agricultural products, total
Nonagricultural products, total
Food and live animals # .
Beverages and tobacco
Crude materials inedible exc fuels #
Mineral fuels lubricants etc #
Oils and fats animal and vegetable
Chemicals
Manufactured goods class chiefly by material
Miscellaneous manufactured articles
Machinery and transport equipment total
Motor vehicles and parts
69492
4432
30718
3574
70277
4603
32001
3902
470.5
658.9
44170
1 2025
676.0
7032
12375
5032
629.8
36608
14734
647.7
648.3
1 0297
64.7
148.8
67.0
1352
1006
134.1
70956 '78398
457.3
384.8
31539 3561 5
4862
4937
7951.4
480.2
3 447.1
499.6
717.7
682.1
40154
1,033.2
498.7
7092
1 0722
743.5
883.5
41238
1,187.5
591.2
949.7
1,462.9
83 865 5
50619
28 375 3
31072
851025
6,1541
33 275 6
46682
82825
4888
32235
4429
4,807.2
6,840.6
485848
143987
4,034.8
8,019.1
114823
6,286.8
8,140.5
481465
155184
6,572.2
8,807.8
13191 1
570.9
644.4
42170
12651
566.2
692.3
9978
1,732.4
85347
136787
3754542
832.9
2,086.3
84162
190835
400 839 1
674
142.1
6073
6070
8614
8069
6754
17770 1 7801 1 861 3 1 838.0 1 7897
35 972 8 346546 33 333 0 32 766 9 35 075 3 377487 35 352.9
38,783.4
341,914.0
292800
7,118.6
269849
121748
1 1906
389833
31 670 3
392853
172,521.9
26,656.3
38,462.7
362,379.8
295550
6,750.3
25 462 0
120332
1 1471
42 966 7
35 566 0
431622
187,359.9
28,175.1
3,330.1 3,954.7 3,839.7
32,258.7 31,2432 29,729.7
26934 28643 26420
494.5
601.6
561.6
19782 22308 23289
9794 10075 1 0544
1177
874
1034
37541 34088 3291.9
31826 29050 26821
40090 3761 1 36273
16,845.9 169165 15833.5
2,787.2 2,555 6 2 123.7
495310.5
487,129 0
108901 1
91,867.5
4,578.5
13,124.0
281087
127233
49719
20,2882
22752
1,065.4
102 596 5
86,480.9
4,138.7
13,372.1
262293
11 7874
4,827.0
18,519.6
46,466 0 41 777 9 40 758.3 r 39,91 6 8 r 39,1 25 2 '432807 '42 902 5 '42 128.9 r45,732.1 '45,621.6 '44,777.4' '46,4532 49,667.6
42,7122 41,382.4 41,674.5 '41,314.5 r 40,975.4 r42,696.4 '43,494.0 '42,902.7 r44,956.9 '45,127.4 '44,796.4 '46,459.0 46,217.7
78676 81632 91896 92906 86825 95744 98889 87573 91378 10350.0
96596 82637 90666
6,666.0 6,900.7 7,747.3 7,862.8 7,303.3 8,126.7 8,453.3
7,588.1 7,720.3 8,783.5
8,094.5 6,930.9 7,620.4
492.1
375.5
294.5
415.8
339.7
312.6
301.9
361.3
404.5
492.8
445.8
381.3
335.9
1,262.7
1,076.7
1,096.6
1,276.0 1,3262
1,317.0
1,289.6
1,153.3
1,003.9
1,082.9 1,249.0 1,4392 1,044.0
20004 20276 23968 24869 22852 23330 24393 23436 23326 27621
24605 22176 23955
1,012.1
8775 1 0842
9136
1 168.2 1,210.5
1,1693
8523
1 0559
9928 10090
861 1
9573
535.8
4503
367.7
442.1
519.3
4319
4655
3653
3629
3691
481 0
534.0
4418
1,511.7 1,5382 1,574.4
1,773.9
1,576.3 1,599.9
1,765.9
1,641.5 1,752.2 1,924.7
1687.0 1,421.6 1 568.7
125.2
1847
159.1
165.9
197.5
156.6
207.9
160.3
1315
1295
1560
1408
163.1
91 372 1
79764
30,172.3
9,446.4
91 141 1
67268
31,194.3
8,228.4
152238
94880
89 655 1
18 493 3
9,974.3
9,839.4
226668
5515
70448
61249
6172
617.6
30602
4507
29088
3850
621.5
745.0
43481
580.6
683.8
36020
14031
1 321.1
609.7
705.4
1 1448
979
158.5
81950
4546
35296
4938
78472
3854
35099
4753
76660
4307
33863
4548
83975
594.2
34960
4975
637.8
669.1
43524
1 3834
621.1
610.6
676.0
764.9
1 141 1 12096
5866
670.8
35661
1 0932
809.6
732.8
12963
613.1
7042
36661
12882
535.9
7922
12980
696.8
830.8
41638
13570
729.1
1,061.4
1 3046
70.8
180.1
6463
18434
822
141.8
6247
20977
97.5
89.6
68794
426.7
34766
491.8
437.5
864.2
4181 0
1,210.6
492.9
808.0
1 099.9
35.8
69.3
489.1
741.1
38400
1,0689
557.5
777.4
1 2420
1065
73.0
163.0
2532
352.3
195.3
225.3
210.3
7987
8254
6743
8206
6428
881 0
1,777.2
1 6624 1 6569 1801 2
20562
1 9715
34,883.7 37,155.8 34 232 6 331985 '349099 38,1072
3,592.0 3,786.4 3,674.9 3,634.3 3,084.1 3,154.9 3,189.8 3,021.0 3,310.9 4,097.5
29,305.8 31,2142 33,965.0 31,697.0 31,565.7 34,120.1 30,571.0 29,894.1 31,954.6 34,009.7
24421 29597 28731 27777 24052 25791 28425 26476 27130
454.3
564.5
580.9
5727
6227
509.3
579.6
506.7
5742
1 968 4 20043
22179 22605 22528 20361
1 9159
19542 20638
1 0008
8641
8170
9235
9466
9597 1 0151
8675
8648
1189
1227
3594.1
29465
37094
14,823.6
1,997.0
34669
28951
38221
16,7136
2,543.5
1134
38073
31572
43543
183019
28744
1074
3751 1
30737
39303
168164
29567
1182
3 873.0
30586
39732
163508
2951.2
1221
40069
31295
42225
18315.0
2,963.3
1229
37003
28791
37932
15224.0
2148.4
1261
1362
35125 37147
29921 31552
37442 4068 4
15,054.3 16733.8
2,261.3 2,593.4
2,756.6
VALUE OF IMPORTS
[Millions of dollars]
General imports, total <§)
Seasonally adjusted
Western Europe
European Economic Community
Belgium and Luxembourg
France
Federal Republic of Germany
Italy .
Netherlands
United Kingdom
Eastern Europe
:
USSR (former)
. Western Hemisphere:
Canada
Brazil
....
Mexico
Venezuela
Asia:
China
Hona Kona
*
Japan
Republic of Korea
Saudi Arabia
Singapore
Taiwan
*
Africa:
Nigeria
Republic of South Africa
Australia
OPEC
By commodity groups and principal commodities:
Petroleum and products . .
Nonpetroleum products
Food and live animals #
Beverages and tobacco
Crude materials inedible exc fuels #
Mineral fuels lubricants etc
Oils and fats animal and vegetable
Chemicals
Manufactured Goods class chiefly by material
Miscellaneous manufactured articles
Machinery and transport eouipment
Motor vehicles and parts
1 809.8
812.9
47.5
67.4
85928
518.3
3,1612
670.6
79721
649.7
2,787.4
70402
536.8
2,408.1
658.9
71375
622.9
2,493.0
18 975 8
92864
915827
170245
10,9782
99763
23 036 3
99999
1 0388
88553
1 961 8
1 6086
743.4
8 063.8
19038
5,977.2
17006
4,441.7
38,017.0
5,360.1
1 7333
40100
32,960.6
61 ,356.8
433 902 6
219325
46331
145240
64561 5
8023
22,468.2
599142
81 477 6
208 095 7
693821
21 952 3
48226
130790
543427
8567
24,168.7
574189
83 389 6
2107865
675254
78.1
741.3
8757
77613
14596
1002
571.9
8431
44.6
76883
6263
2,6152
534.9
50.2
55.3
42.1
58.0
94.2
58.8
85806
564.0
3,033.5
821.9
90114
584.0
3,392.8
853.7
25987
22098
7 745.9
14765
859.8
994.3
22059
27652
9244
82779
14247
9078
1 0668
21534
27407
1 051 6
9,081.5
1 5493
866.2
984.6
22244
539.6
84571
5820
2,933.3
554.5
85024
682.6
2,951.9
593.5
88149
701.3
3,161.8
683.9
72280
615.5
2,849.3
737.1
1 4368
5926
83380
1 181 3 1 3139
764.1
755.9
957.9
708.3
1 7850 1 921 1
1 6781
6669
7 776.1
1 3222
759.5
838.8
1 8895
18372
21653
8462
75489
14290
1,071.3
1 ,029.3
21080
2491 4
7,1612
1 3358
811.2
848.1
20246
7195
96.9
78168
652.9
2,978.3
685.3
86598
6246
2939.1
599.5
1 7039
6374
7,383.5
74.7
9425
8,1142
1 6456
9556
9031
805.1
1 4179
815.2
7,477.4
13683
896.7
2211 9
905.2
19855
926.3
2 006.7
20157
456.4
394.5
305.5
340.6
454.6
538.3
573.6
5733
5067
3329
1079
116.6
116.7
142.9
1197
266.6
1525
1291
1532
1372
1766
1456
1445
1552
1447
311 1
3042
2,634.5
285.5
2,532.5
364.6
2,573.1
263.7
2,155.2
3006
2,260.6
3494
2,398.6
289.2
2,617.5
3268
3,075.6
3155
3090
2,924.8
2729
2,898.5
272.4
3,143.4
18043
1 9002
4531
1,959.1
3630
1 ,81 1 0
3496
17062
4994
12341
4,835.0
1 7740
421 1
1571 1
885.0
937.6
2,901.6
17640
5530
1 0957
45241
1 0578 1 0332
42928 4 285.0
701
724
81 9
2250io 1,870.3 2,202.1
53573 47255 4501 4
89621 75512 69198
20 455 4 182873 182333
6981 7
60794 57683
859.1
1 1191 1 091 5
3,992.2
706
2,243.3
3,489.9
654
2,150.9
4731 3
44636
7051 2
67578
169534 171994
5431 0
55234
2,021.9 20502
3756
4093
1 1790 1 1858
3,748.3 4,220 2
874
868
2,362.7 2,345.7
50144 5035 1
7071 6
68251
197166 190401
63319 61285
8931
3,128.1
1 834.3 1,930.0
1,7972
4656
6147
5526
1 1632
1 1883 1 1459
4,467.9 4,980.0 5,170.8
744
1027
745
2,134.9 2,329.2 2,326.3
50604 51429 53303
70265 8*1 39 2 9171 9
183426 195944 185089
59737 5 829.4 4951.9
3931
1 1775
5,043.7
1168
81 3
2,244.3 2,312.8
50636 51687
86937 90082
18681 0 20 067 7
51441
59265
6 756.6
MERCHANDISE TRADE BALANCE
[Millions of dollars]
Trade balance:
Not seasonally adjusted
Seasonally adjusted
[Billions of 1987 dollars]
Seasonally adjusted*
Trade balance
Exports
Imports
See footnotes at end of tables.
-101 7182
-84.89
365.65
450.55
-65 399.0
-59.81
393.15
452.96
S-17
'-2265.4 r-3,496.4 r-5,729.8 r-5,433.0 r-6,676.9 '-9,642.9 '-9,890.4 '-9,614.1 -9,415.2
-8 569.5 -4,808.3 -5,762.2 '-5,448.0
r
r
r
-5,870.1 -4,113.4 -5,621.5 -5,847.4 r-3,321.0 r-5,611.7 '-7,088.2 -7,184.8 -6,792.3 '-7,321.9 '-8,997.1 '-8,576.7 -7,032.3
-5.49
-3.93
-5.45
34.35
39.84
34.79
38.72
33.79
3924
r
r
' 39.1 6
r
-5.81
33.35
-3.53
35.30
38.83
r
-5.93
34.74
'40.66
'-7.13
34.31
'41.44
'-7.11
33.72
'40.82
'-6.35
35.99
'42.34
'-6.74
35.77
'42.51
'-8.30
33.91
'4221
'-7.70
'35.95
'43.64
-6.09
37.30
43.39
Nov.
SURVEY OF CURRENT BUSINESS
S-18 • December 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
Annual
1990
1992
1991
1991
Oct.
Nov. |
Dec.
Jan. |
Feb. |
Mar. |
Apr. | May
June |
July |
Aug. |
Sept. |
Oct. |
115.1
1031
117.1
115.3
1051
1170
114.8
1030
116.8
125.5
1258
126.5
Nov.
7. FOREIGN TRADE OF THE UNITED STATES-Continued
Export and Import Price Indexes
[1985=100]
All exports
Agricultural exports
Nonagricultural exports
113.8
1088
114.9
114.7
1070
116.1
115.0
1095
1159
115.1
1092
116.1
All imports
Petroleum imports
Nonpetroleum imports
123.2
133.7
1233
1238
114.4
1062
1158
113.9
1052
1153
114.7
1085
1157
114.7
1085
1157
1146
1068
1159
1150
1070
1163
115.3
1076
1166
1154
1069
1168
1235
1232
1233
1231
1226
1233
1243
1249
874
762
727
727
743
674
655
667
685
738
765
771
772
773
793
1295
131 6
1314
131 7
1323
1331
1336
1331
1323
1320
1327
1334
1340
1343
1347
372 052
150737
389 562
162346
33234
14178
36101
13770
35172
14302
32709
13388
31 791
13944
31 140
14682
32230
14216
30496
13925
31 276
14315
32881
13919
495 239
283,392
448852
272,286
37975
25,775
34168
22,866
37444
22,987
37632
23,117
32743
21,217
36593
22670
38135
23,280
39406
22686
41545
24,774
40995
26,340
3608
60.0
4667
3855
61.7
4929
4453
69.1
5550
4906
72.6
6004
51 32
75.7
6207
4031
63.8
5130
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight foous metric tons
General imports:
Shipping weight ihous metric tons
Value, mil. $
8. TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers
Certificated route carriers:
Passenger-miles (revenue) billions
Ton-miles (revenue) total millions
Operating revenues (quarterly) mil $ §
Passenger revenues mil $
Cargo revenues mil $
Mail revenues mil $
Operating expenses (quarterly) mil $ § . . . .
Net income after taxes (quarterly) mil $ §
Domestic operations:
Passenger-miles (revenue) billions
Cargo ton-miles millions
Mail ton-miles, millions .
Operating revenues (quarterly) mil $ §
Operating expenses (quarterly) mil $ §
Net income after taxes (quarterly) mil $ §
International operations:
Passenger-miles (revenue) billions
Cargo ton-miles millions
Mail ton-miles millions
Operating revenues (quarterly) mil $ §
Operating expenses (quarterly) mil $ §
Net income after taxes (quarterly) mil. $ §
45793
62.4
58342
44780
62.6
56889
75984
58,430
5432
75023
57,055
5508
3808
61.7
4958
3378
58.4
4479
3748
62.5
4798
3404
56.5
4343
3258
57.4
4211
18409
14,064
1 497
3826
62.5
4922
19301
14,764
1450
18830
14,550
1 391
970
944
258
276
280
77898
-3995
76,815
-1986
19,243
-877
19292
-593
19,894
-689
34023
5075
1489
33241
4946
1,411
57994
58983
-3411
56165
56691
-1 271
11770
5471
11539
5259
513
493
17990
18914
-584
18858
20124
-715
8671
8484
2766
2498
2812
2450
2384
2800
2638
2784
3247
3591
3730
2879
477
123
444
120
398
166
383
126
391
118
434
127
428
130
435
122
440
117
440
122
434
119
446
123
13996
14220
-537
1042
507
43
880
488
49
935
427
60
14253
14556
-505
14313
14249
-48
954
390
39
874
407
37
4413
5,022
-340
1026
496
39
970
463
39
1071
1206
1315
1402
11 53
480
38
502
38
498
39
483
39
492
37
209.9
203.2
5,048
5,338
-184
4,518
5,043
-545
Urban Transit Industry
Passengers carried total millions
Motor Carriers
Carriers of property, large, class I, qtrly.:
Number of reporting carriers number
Operating revenues total mil $
Net income, after extraordinary and prior period
charges and credits mil $
Tonnage hauled (revenue), common and contract
carrier service mil tons
766
698
675
688
657
723
699
681
679
100
100
100
100
100
21 810
22091
5840
5553
6037
442
314
58
82
165
172
178
47
47
49
174.8
182.1
28 516
27 616
Freight carried—volume indexes, class 1 and II
intercity truck tonnage (ATA):
Common carriers of general freight, seas, adj.,
1967=100
189.6
189.4
185.0
196.0
193.9
198.3
202.8
* 202.6
201.5
r
202.1
200.6
Class 1 Railroads $
Financial operations, quarterly (AAR), excluding
Amtrak:
Operating revenues total mil $ $
Freight mil $
Passenger excl Amtrak mil $
Operating expenses mil $
Net railway operating income mil. $
Ordinary income mil $ t
Traffic:
Revenue ton-miles, qtrly. (AAR), billions
Producer Price Index, line haul operations, 12/
84=100
1
27845
26949
7133
6,908
7049
6,831
•94
94
24
23
24
24,736
2,676
M953
28062
6,158
6,664
-38
-92
8,452
-826
-745
595
587
265
162
1,034.0
1,039.8
267.0
265.3
258.8
107.5
109.3
1
1
1
109.3
109.4
109.3
109.5
109.9
"109.9
7001
6,794
109.9
110.0
110.0
--266.6
109.8
110.0
109.9
2
108.9
2
83.6
110.1
110.2
196
Travel
Lodging industry:
Restaurant sales index same month 1967=100
Hotels' Average room sale dollars 0
Rooms occupied % of total
Motor hotels* Average room sale dollars 0
Rooms occupied % of total
Economy hotels* Average room sale dollars 0 . ..
Rooms occupied % of total
Foreign travel:
U s citizens* Arrivals (quarterly) thousands
Departures (quarterly) thousands
Aliens' Arrivals (quarterly) thousands
Departures (quarterly) thousands
Passports issued, thousands
National parks, recreation visits, thousands U
See footnotes at end of tables.
1
19 505
19 022
16908
1
15 024
3,689
3,376
293
359
204
248
275
340
347
313
367
308
243
224
207
56,948
56,750
4,913
2,070
1,565
1,594
1,715
2,325
3,343
-5,120
•'7,722
" 10,379
- 10,1 83
6,739
4,348
1
1
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, ises-ei
Annual
1990
December 1992 •
1991
1991
Oct. |
Nov. |
1992
Dec.
Jan. |
Feb. |
Mar.
Apr.
June
May
July
Aug.
Sept.
8. TRANSPORTATION AND COMMUNICATION-Continued
COMMUNICATION
Telephone carriers:
Operating revenues mil $ #
Tolls message mil $
Operating expenses (excluding taxes) mil $
Net operating income (after taxes) mil $
Access lines millions
9. CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
[Thousands of short tons, unless otherwise indicated]
Production:
Aluminum sulfate commercial (17% AI2Os)
Chlorine gas (100% CI2)
Hydrochloric acid (100% HCI)
Phosphorus elemental
Sodium hydroxide (100% NaOH)
Sodium silicate anhydrous
Sodium sulfate (100% Na2S04)
Sodium tripolyphosphate (100% NasPsOjo)
Titanium dioxide (composite and pure)
Sulfur, native (Frasch) and recovered:
Production thous metric
tons
. . .
Stocks (producers') end of period, thous. metric
tons
-.
1227
11,809
3,140
346
12030
816
786
497
1 077
1 185
11,421
3301
10262
9494
(2)
287
276
2,849
2,709
306
724
70
664
77
646
70
11 713
3044
2937
2953
870
794
462
(4)
214
170
(4)
760
754
791
2,733
223
168
(4)
818
748
797
213
186
334
291
291
1 095
758
801
798
r
1,017
r
r
765
724
916
845
766
319
272
804
1,423
1,499
16958
7107
2,495
7,749
2853
12175
44281
17020
7310
2,230
7,524
3137
12342
43308
18,887
738
5,700
5,460
5507
147840
749 525
462,293
5603
152183
758 823
472,215
1 410
38958
182,611
120,710
M2.8
M243
2908 5
2865
1
3 622 2
M267
M9.4
M261
'29137
2981
1
3 925 3
13963
3
1 1073
1,1988
106.9
101.9
111 4
111 7
1055
1156
1095
368
374
326
362
374
391
278
392
373
240
5949
645.7
2979
17.2
6649
702.7
3546
596
556
623
661
477
318
56.9
61.2
61.8
39.8
61 7
61 3
337
48.1
30.8
97.1
64.9
55.4
137
191
254
295
8.8
10.3
19.9
15.2
24.3
26.8
Inorganic Fertilizer Materials
[Thousands of short tons, unless otherwise indicated]
Production:
Ammonia synthetic anhydrous
Ammonium nitrate original solution
Ammonium sulfate
Nitric acid (100% HN03)
Nitrogen solutions (100% N)
Phosphoric acid (100% P20S)
Sulfuric acid (100% H2S04)
Superphosphate and other phosphatic fertilizers
(gross weight):
Production
Stocks end of period
Potash sales (K26)
Imports:
Ammonium nitrate thous metric tons
Ammonium sulfate thous metn'c tons
Potassium chloride thous. metric tons
Sodium nitrate thous metric tons
1,415
1,302
1,499
1,184
1,209
1 130
1 061
1 036
4,607
1950
4176
1 770
4606
1936
543
569
611
1,801
2019
2,038
758
859
927
3145
10916
3171
11 140
3142
10965
19,418
4,915
5,009
5,092
689
701
454
695
526
388
304
680
406
779
635
261
848
Industrial Gases
[Millions of cubic feet]
Production:
Acetylene
Hydrogen (high and low purity)
Nitrogen (high and low purity)
Oxygen (high and low purity)
. .
Organic Chemicals §
[Thousands of metric tons, unless otherwise indicated],
Production:
Acetylsalicylic acid (aspirin)
Ethyl acetate
Formaldehyde (37% HCHO)
Glycerin refined all grades mil Ib 0
Methanol synthetic
Phthalic anhydride
1
5.7
(3)
299
337
7795
692
1 278
39215
198,360
121,740
1 333
38612
196371
121 384
r
7884
275
290
9956
1033
289
269
230
335
332
8062
7827
282
Consumption (withdrawals) mil wine gal
For fuel use mil wine gal
Stocks, end of oeriod. mil. wine aal.
See footnotes at end of tables.
....
953
203
315
9.1
330
8.8
336
123
315
542
506
273
12.3
15.1
19.2
19.9
1126
297
8505
1120
9682
9994
1023
ALCOHOL
Ethyl alcohol and spirits:
Production mil tax gal
Stocks end of period mil tax gal
Denatured alcohol:
S-19
1096
1134
373
409
804
353
597
39.0
Oct.
Nov.
SURVEY OF CURRENT BUSINESS
S-20 • December 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1953-91
Annual
1991
1990
1991
Oct. |
Nov.
1992
Dec.
Jan.
Feb. |
Mar. |
Apr. |
May |
June
July |
Aug.
Sept. I
9. CHEMICALS AND ALLIED PRODUCTS-Continued
PLASTICS AND RESIN MATERIALS
[Thousands of metric tons]
Production:
Phenolic resins
Polyethylene and copolymers
Polypropylene
Polystyrene and copolymers
Polyvinyl chloride and copolymers
2
943 8
8 550 5
3,524.7
2
46241
M1129
1
1
1
1
1
7 5140
3,397.2
1 9180
859.2
18429
814.3
3 977 4
1 0276
26706
981.4
1,027.0
6622
r
1 8654
901 8
1 864 0
914.3
1 6282
1 381 7
1 376.9
2831 5
1 1187
1,059.4
6534
34270
1 4834
1,131.5
8121
32781
1,363.2
1,093.0
8219
PAINTS, VARNISH, AND LACQUER
[Millions o{ dollars]
1 1 727 7
4,9136
4,032.6
2781 5
Total shipments
Architectural coatings
Product coatings (OEM)
Special purpose coatings
11 7073
48819
3,976.7
28488
10. ELECTRIC POWER AND GAS
ELECTRIC POWER
[Millions of kilowatt-hours, unless otherwise
indicated]
Production:
Electric utilities total
By fuels
By waterpower
2808151
2,528,225
279 926
2 823 025
2,547,508
275516
Sales to ultimate customers, total (Edison Electric
Institute)
Commercial §
Industrial §
Railways and railroads
Residential or domestic
Street and highway lighting
Other public authorities
Interdepartmental
2,667,321
734584
926161
5,297
910,296
14895
72,399
3689
2,710,674
749 686
921 552
5420
938,517
15204
76713
3582
652,498
180292
229825
1,348
217,039
4049
18,966
666,891
178371
223865
1,410
239,100
3984
19373
644856
183074
235 065
1 258
202547
3607
18702
744,804
210989
246 307
1,263
261,505
3586
20543
980
787
603
612
175,503
183361
43,078
44131
43675
53422
54539
50,058
4269
55442
50883
4340
54442
50,883
4340
56241
51 589
4434
165
48
171
49
171
49
166
51
9937
4,639
2,241
1,754
1 122
2929
1,447
3674
2011
Revenue from sales to ultimate customers (Edison
Electric Institute) mil. $
223258
205 720
17538
221203
202 904
18299
233 585
211,710
21 873
243 877
ppp^/l?
21 535
217756
199,798
17958
224 655
203,101
21 553
210538
191,098
19439
220229
197,958
22270
236818
214133
22685
265 931
246,234
19697
255441
237,396
18045
GAS
Total utility gas, quarterly (American Gas
Association):
Customers end of period total thousands @
Residential
Commercial
Industrial @
. . .
Other
Sales to customers total fry'/ Btu
Residential
Industrial
Electric Generation
Other
.. .
Revenue from sales to customers, total, mil. $ ..
Residential
Commercial
Industrial
Electric generation
Other
9,846
4,471
2,193
1,890
1 120
171
674
481
274
53
181
45,174
25014
10,610
6034
2,963
45316
26060
10,802
5372
2,537
553
545
900
494
196
73
13368
7871
3'158
1 525
18137
10751
4,322
1 625
649
165
379
227
11. FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production mil bbl.
Taxable withdrawals, mil. bbl.
Stocks, end of period, mil. bbl.
Distilled spirits (total):
Production mil tax gal
Consumption, apparent, for beverage
purposes mil wine gal . . .
Stocks, end of period, mil. tax gal.
Imports, mil. proof liters
Whisky:
Production mil tax gal
Stocks end of period, mil. tax gal.
Imports, mil. proof liters
Wines and distilling materials:
Effervescent wines:
Production mil wine gal
Taxable withdrawals mil wine gal
Stocks end of period mil wine gal
Imoorts mil liters
Still wines:
Production mil wine gal
Taxable withdrawals mil wine gal
Stocks end of period mil wine gal
Imports mil liters
Distilling materials produced at wineries, mil.
wine oal
See footnotes at end of tables.
20365
184.51
12.68
20219
18099
1264
1665
1513
1375
1447
1342
13.23
1364
12.84
12.64
15.65
13.78
13.29
1610
13.60
16.00
1806
15.65
14.79
1800
15.53
15.29
1889
1646
1545
1895
1747
1538
11834
10875
1443
852
909
1023
909
958
11 01
718
707
37441
42249
34630
40210
3070
43739
3316
437.52
3963
402.10
2339
437.80
2434
435.43
2723
438.93
2862
44231
39196
441 87
7991
371 60
71 12
341 87
666
506
731
709
660
694
618
470
37575
37533
341.87
377.29
377.95
380.72
38075
331 59
2635
25.50
1760
2276
2380
1609
391
443
252
1 51
191
1 82
1.08
1679
.93
1.17
1767
155
153
1804
1 02
2.47
1609
223
3.38
1630
2290
1777
42715
41725
57636
39439
37641
58009
13790
3237
52791
6071
3337
55464
3329
3246
58009
695
469
333
274
502
641
3322
57349
3062
57227
3517
51682
3475
511 96
3235
50361
3083
40075
108.07
110.73
33.07
10.69
4.41
7.02
10.68
4.08
2.32
3.36
3.42
1782
1 04
1834
1683
1499
1755
16.04
14.50
3399
16645
42666
448
210
37714
10907
1 55
379.44
121
238
246
1.36
1776
1.41
1769
1.77
1582
464
2935
391 38
4489
2862
411 02
9.17
18.05
Oct. I
Nov.
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
Annual
1990 |
December 1992 •
1991
1991
Oct. |
Nov. |
S-21
1992
Dec.
Jan. |
Feb. |
Mar. |
Apr. |
May |
June |
July |
Oct. I
Aug. Sept.
Nov.
11. FOOD AND KINDRED PRODUCTS; TOBACCO-Continued
DAIRY PRODUCTS
Butter:
Production (factory) mil Ib
Stocks, cold storage, end oVpS7'flS''£'".'.!'.'."!Z
Producer Price Index 1982=100
Cheese:
Production (factory), total, mil Ib
American, whole milk, mil Ib
Stocks, cold storage, end of period, mil, Ib.
American whole milk mil Ib
1 3022
416.1
713
1023
567.1
740
1008
543.0
744
1294
539.4
703
1560
568.6
681
1320
630.3
606
1299
655.7
607
1197
701.7
607
1183
734.1
604
1032
7662
559
968
848
900
780.6
r
560
732.3
56.0
630.7
58.7
1004
560.0
58.7
514.1
245.5
438.8
338.7
497.1
231.3
445.9
348.0
542.7
246.4
449.0
335.5
534.7
244.9
450.0
334.7
550.9
261.8
459.1
343.5
548.0
259.7
465.2
343.4
546.0
259.3
497.1
369.9
535.9
242.4
488.0
3642
520.0
222.9
470.9
349.8
561.8
2402
449.1
326.8
60612
2,890.8
457.8
347.2
6090.8
2,804.9
415.3
317.8
521.0
226.4
429.3
337.8
502.3
218.3
409.0
319.1
533.7
247.7
415.3
317.8
602.6
543.1
46.8
39.1
43.9
46.3
45.5
52.4
54.0
54.7
52.4
50.7
44.3
42.2
51.9
581
347
663
442
347
50.6
58.7
61.0
60.7
73.8
82.6
82.9
86.8
77.8
65.6
125772
89998
13.74
125683
90451
12.26
10212
7245
13.50
9926
6725
13.90
10418
7602
13.80
10,684
8,162
13.50
10230
7620
12.90
11,092
8,244
12.50
10,866
8,045
12.50
11,258
8,376
12.90
10,868
8,235
13.20
10,939
8,080
13.40
10,756
10,300
13.50
13.50
175.1
879.2
106.8
877.5
11.0
48.7
9.1
53.3
9.0
86.0
10.3
80.2
9.2
78.1
10.7
82.8
11.8
13.1
822
892
14.5
81.3
13.7
76.0
15.5
59.2
10.6
52.8
Imports thous metric tons
Price, wholesale, Cheddar, single daisies (Chicago),
$ per to. ..
.
Condensed and evaporated milk:
Production, case goods, mil. Ib
Stocks, manufacturers', case goods, end of period,
mil Ib
Exports thous metric tons
.. .
Fluid milk:
Production on farms mil Ib t
Utilization in manufactured dairy products mil Ib
Price, wholesale, U.S. average, $ per 100 Ib
1 3363
539.4
695
Dry milk:
Production:
Dry whole milk, mil. Ib
Nonfat dry milk (human food), mil. Ib.
Stocks, manufacturers', end of period:
Dry whole milk mil Ib
Nonfat dry milk (human food), mil. Ib.
Exports, whole and nonfat (human food), thous.
metric tons
Price, manufacturers' average selling, nonfat dry
milk (human food) $ per Ib
r
58"3
10,569
10,273
r
P 13.30
13.40
14.1
53.6
112
8.5
6.0
6.4
8.5
7.0
6.8
72
8.6
92
8.9
39.6
36.9
61.0
60.8
64.5
62.4
66.2
76.3
12.4
112.5
6.7
61.0
10.9
98.4
7.9
114.6
113.6
95.6
81.9
.948
893
.966
.991
.993
.921
.932
.924
1.011
1.071
1.092
1.132
1.146
1.039
1.023
110.9
111.6
108.6
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn oats rye wheat), mil bu
Barley:
Production (crop estimate) mil metric tons
Stocks (domestic), end of period, total, m/7. metric
tons
On farms mil metric tons
Off farms mil metric tons
2
9192
On farms mil metric tons
Off farms mil metric tons
«7 150
6
4 274
6
2 876
117.0
108.3
2
201 53
2
6
176 29
123 80
6
52 49
6
6
6
Exports including meal and flour mil metric tons
Producer Price Index, No. 2, Chicago, 1982=100 .'.
Oats:
Production (crop estimate) mil metric tons
Stocks (domestic), end of period, total, mil. metric
tons
On farms mil metric tons
Off farms mil metric tons
Exports including oatmeal metric tons
2
5189
5
5
2 278
1203
1 075
Producer Price Index, No. 2, Minneapolis,
1982=100
Winter wheat' m/7 metric tons
'.)
V'""*ii'
-
Exoorts total includino flour mil metric tons
Wheat onlv. mil. bu
.'. .'.
See footnotes at end of tables.
97.0
2
3 520
5
2 485
1341
1 144
5
5
70.4
2
115.2
115.1
117.4
116.9
114.8
115.1
16615
10909
5707
97.1
97.5
3
11585
6630
4955
95.5
100.8
102.2
3
27.95
15.38
12.57
69.56
3855
31 .02
3
108.9
104.6
102.9
5
107.0
96.4
88.3
89.0
83.8
82.0
79.1
90.3
83.1
87.4
1.854
.885
968
5
5
74.5
76.3
78.5
79.2
93.6
91.1
82.1
88.8
882
83.5
1 457
'605
779
554
550
542
500
464
672
471
562
569
440
554
514
513
490
475
552
534
2106
1904
2277
2089
1,904
1,788
1,177
1,538
1,249
1,112
970
766
102.4
110.2
109.6
2 258
2
t
111.3
2
6
6
109.4
111.9
112.1
112.4
104.1
111.1
100.7
101.3
101.1
104.9
104.9
105.6
82.1
87.9
248
879
835
27447
2
19 20
2
55 27
62 14
51 93
6
20 77
6
31 16
107.9
7 006
665
Stocks (domestic), end of period, total, mil. metric
113.9
10150
6614
Producer Price Index, medium grain, milled,
1982=100
.
Wheat:
Production (crop estimate) total mil metric tons
112.3
10351
6942
Stocks, domestic, rough and cleaned (cleaned
basis) end of period mil Ib
Rye:
Production (crop estimate) mil metric tons
Producer Price Index, No. 2, Minneapolis,
1982-100
117.0
9042
5.639
3.403
2 800
983
1.817
4
4
189 86
76.1
27080
113.4
4
4700
2221
2480
7150
4274
2876
16615
109 09
6
57 07
100.9
5
Rice:
Production (crop estimate) mil metric tons
Southern States mills:
neceipis, rougn, rrom proouce s, . o.
fr j
10113
6 656
3841
6
2816
6
Exports including malt thous metric tons §
Producer Price Index, No. 2 feed, Minneapolis,
1962=100
. . .
Corn:
Production (crop estimate, grain only), mil. metric
tons
Stocks (domestic), end of period, total, mil. metric
tons
2
6
53 91
16 56
23734
6743
74.7
85.0
2
39 29
6
15 37
6
23 91
1645
1548
3929
1537
2391
2415
750
1665
1289
4
12.84
4
394
4
890
56.88
2631
30.56
S-22
SURVEY OF CURRENT BUSINESS
• December 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
Annual
|
1990
1991
Oct. |
1991
1992
Nov. |
Jan. |
Dec.
Feb. |
Mar. |
Apr. | May
June
July I
Aug. I
Sept. I
Oct. I
Nov.
11. FOOD AND KINDRED PRODUCTS; TOBACCO-Continued
GRAIN AND GRAIN PRODUCTS-Continued
Wheat-Continued
Producer Price Indexes:
Hard red winter, No. 1, ord. protein (K.C.),
1982=100
Hard red spring, No. 1, ord. protein (Minn.),
1982=100 H,
Wheat flour:
Production:
Rour thous sacks (100 to)
Millfeed fnous sn tons
Grindings of wheat tnous bu
Stocks held by mills, end of period, 'thous. sacks
(100 Ib)
Exports, thous. metric tons .
. .
Producer Price Index, 6/83=100
863
781
890
905
982
1055
1134
1066
101 0
978
1040
889
81 2
884
91 6
931
91.1
82.1
92.7
93.2
101.8
107.4
117.5
1123
1079
111 7
118.1
100.3
949
1039
1048
106.4
354348
6109
788186
362311
6436
808 966
32246
32735
29238
29445
29498
29112
30145
6,267
5,660
100.2
94.5
100.9
104.8
105.7
23740
24966
562
306
579
264
310
29542
594
527
29438
29152
582
526
534
529
527
521
521
551
601
72,219
73445
65656
65965
66157
6570*1
66313
65806
65859
68695
75870
100.1
97.5
102.7
109.7
116.4
111.5
110.3
109.2
111.0
2369
1958
1 982
2225
1950
2172
2169
2166
2312
990
653
644
305
579
264
650
325
681
354
700
393
754
430
808
487
920
580
295
300
280
275
280
280
285
285
305
188.6
191.6
16.4
16.1
16.7
16.4
15.4
16.8
16.2
15
21
16
12
20
25
28
27
15
16
17
21
15
16
20
19
20
19
19
760
.714
679
687
739
591
557
557
574
520
1,742
32391
1398
31887
127
125
131
128
111
120
108
103
105
106
107
107
111
2855
2508
2491
2856
2377
2599
2525
2688
2fe63
2802
2721
2748
2793
8,292
7,744
7,708
8,144
7,153
7,934
7,610
6,897
7,166
7,461
7,494
8,217
8,598
43.51
3829
18.9
16.6
16.6
15.2
161
156
164
181
18.8
191
188
19.5
501
449
471
469
422
481
503
374
419
427
400
470
452
5,660
5,522
33471
6,083
r
104.9
98.9
2328
2223
2287
2357
1 015
1 021
1 096
1 067
662
673
734
710
305
330
340
305
315
16.4
15.8
16.4
16.4
16.0
16.7
34
30
29
23
22
17
21
19
20
20
20
560
530
579
POULTRY AND EGGS
Poultry:
Slaughter mil Ib
Stocks, cold storage (frozen), end of period, total,
mil Ib
Turkeys mil Ib
Price, in Georgia producing area, live broilers, $
per to
Eggs:
Production on farms, mil. cases §
Stocks, cold storage, end of period:
Shell, thous. cases §
...
Frozen, mil. Ib.
Price, wholesale, large (delivered; Chicago), $per
doz
r
r
320
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves, thous. animals
Cattle tfious animals
Prices, wholesale:
Beef steers, $per 100 Ib.
Steers, stacker and feeder $ per 100 Ib.
Calves, vealers (So. St Paul), dollars
Hogs:
Slaughter (federally inspected), thous. animals
Prices:
Wholesale, average, all weights (Sioux City), $
per 100 Ib.
Hog-corn price ratio (bu. of corn equal in value
to 100 Ib. live hog)
Sheep and lambs:
Slaughter (federally inspected) thous animals
Price, wholesale,il lambs, avg. (San Angelo, TX),
$per100lb
.
78.89
92.15
82,901
70.93
88.60
85,952
54.72
22.5
21.4
5469
5504
5404
r
20.5
20.9
5120
MEATS
Total meats (excluding lard):
Production mil Ib
Stocks, cold storage, end of period, mil. Ib.
Exports (meats and meat preparations), thous.
metric tons
Imports (meats and meat preparations), thous.
metric tons
Beef and veal:
Production, total, mil. Ib.
Stocks cold storage end of period mil Ib
38,606
39584
3708
3324
3284
3622
3088
3376
3259
3235
3422
3441
3406
3558
3655
566
662
633
650
662
708
691
725
707
692
669
646
596
613
636
22,950
23,223
2,142
1,839
1,809
2,067
1,732
1,811
1 924
2,063
2,039
2,004
2,018
2,038
292
303
313
292
336
1,876
306
306
320
309
310
306
300
295
281
295
357
362
32
29
31
31
28
32
33
25
27
27
25
30
6
6
7
6
7
8
9
10
11
12
9
c
29
8
15299
16000
1 534
1456
1444
1 524
1 329
1 414
1 378
1 510
1 588
311
300
308
311
341
1 287
1 374
234
1467
1332
353
372
363
345
323
307
267
297
307
1186
1146
1171
1158
1147
1052
1042
1059
1056
1043
1054
1084
1081
1088
1128
372
344
321
313
332
375
ImDorts' thous metric tons
Price, wholesale, beef, fresh steer carcasses,
choice (600-700 lbs.)(Central U.S.), $ per Ib.
Lamb and mutton:
Production total mil Ib
Stocks, cold storage, end of period, mil. Ib.
Pork (excluding lard):
Production total mil Ib
Stocks, cold storage, end of period, mil. Ib.
Exports, fnous. metric tons
Prices:'
Producer Price Index, hams and picnics, except
canned 12/88=100*
Fresh loins, 8-14 Ib. average, wholesale
(Omaha), $ per to.*
1 1752
8
1 0087
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans, imports (including shells),
Coffee:
Imports, total, metric tons
U.S. Import Price Index, 1985=100
Rsh:
Stocks, cold storage, end of period, mil. to.
See footnotes at end of tables.
59.3
54.6
343
380
471
52.4
385
394
380
326
41.7
305
39.2
384
390
115 1
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
Annual
1990 |
December 1992 •
1991
1991
Oct.
S-23
1992
Nov. | Dec.
Jan.
Feb. |
Mar. |
Apr. |
May |
June |
July Aug.
Sept. |
Oct.
Nov.
11. FOOD AND KINDRED PRODUCTS; TQBACCQ-Continued
MISCELLANEOUS FOOD PRODUCTS-Continued
Sugar:
Exports, raw and refined, metric tons
Imports raw and refined thous metric tons
Producer Price Indexes: '
Raw (cane), 1982=100
Refined 1982=100
Tea imports metric tons
119.2
113.7
121.6
122.7
114.2
120.8
114.4
120.6
113.5
1204
112.6
120.0
112.4
1201
112.6
120.2
112.4
120.2
111.4
119.9
110.6
120.0
r
111.0
120.0
111.7
15,071
38,331
22,490
43,718
r
1209
112.8
119.8
113.6
119.9
112.7
119.8
TOBACCO
Leaf:
Production (crop estimate) mil Ib
Stocks, dealers' and manufacturers', end of .period,
mil Ib
Exports incl scrap and stems metric tons
Imports incl scrap and stems metric tons
Manufactured products:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt millions
Taxable, millions
Cigars (large) taxable millions
Exports cigarettes millions
M 626
1
1,660
3674
3744
178742
523,094
2233
193778
516338
2133
3744
3560
3276
18,535
40,464
15542
57,123
15781
32,744
8,173
35,718
13777
39,584
11,040
48,518
12,572
43,622
13,896
39,012
17,461
51,667
193
191
157
139
156
181
162
165
217
163.4
162.8
163.9
164.0
r
164.7
163.2
164.2
165.3
163.7
143.8
126.4
119.7
143.7
126.4
120.4
143.7
126.6
121.5
r
145.2
126.5
121.5
145.0
126.7
121.5
145.0
126.9
123.1
143.9
126.5
120.0
145.1
126.6
123.6
r
168
185
12. LEATHER AND PRODUCTS
LEATHER
Upper and lining leather thous SQ ft
Producer Price Index, leather, 1982=100
177.6
168.4
201 648
168633
40903
41809
41 184
33436
28537
8803
3,563
29569
8585
3,655
3405
2482
519
494
1358
141 0
124.0
115.2
161.5
162.4
162.8
161.3
161.8
LEATHER MANUFACTURES
Footwear:
Production total thous pairs
Shoes, sandals, and play shoes, except athletic,
thous parrs
Slippers, thous pairs
Athletic, thous. pairs
Other footwear thous pairs
Exoorts thous oairs
Producer Price Indexes:
Men's leather upper, dress and casual,
1982=100
Women's leather upper 1982=100
Women's plastic upper, 1982=100
120.9
113.4
1408
124.7
116.9
141.4
124.5
116.9
1422
124.5
116.9
144.6
125.1
117.1
1450
1438
126.2
119.9
126.1
119.9
r
13. LUMBER AND PRODUCTS
LUMBER-ALL TYPES #
[Millions of board feet, unless otherwise indicated]
National Forest Products Association:
Production, total
Hardwoods
Softwoods
Shipments total
Softwoods
Stocks (gross) mill end of period total
Hardwoods
Softwoods
Exports, total sawmill products
Imports total sawmill products thous cubic meters
2
2
2
3,774
58,834
10213
33763
3,933
937
828
816
862
831
2,996
2645
2438
2974
2797
3169
2900
46 083
10,1 02
35,981
43860
9,844
34,016
4012
3477
3370
3912
3693
4078
3682
966
808
843
904
869
899
921
910
910
3,046
2,669
2,527
3018
2833
3127
2778
2696
3037
2963
2968
2999
4734
4616
4741
4710
4616
4603
4567
4608
4730
4731
4678
4606
4418
4419
8749
8,009
3,473
3,254
3,882
54,638
9 480
45 159
2
2
3,836
894
3,628
860
4,121
952
951
3,862
962
3,632
3,911
3,746
960
996
959
2701
2,951
2886
2787
3565
3936
931
3884
3878
959
2815
3909
SOFTWOODS
[Millions of board feet, unless otherwise indicated}
Douglas fir:
Orders new ...
Orders, unfilled, end of period
Production
Shipments
Stocks (gross) mill end of period
Exports total sawmill products thous cubic meters
Sawed timber thous cubic meters
Boards, planks, scantlings, etc., thous. cubic
meters . .
Producer Price Index, Douglas fir, dressed,
1982=100
See footnotes at end of tables.
723
665
468
675
646
781
612
451
621
629
773
683
504
580
630
723
734
586
654
652
725
532
481
641
637
729
750
528
748
703
774
626
542
643
612
805
617
465
644
694
669
739
532
659
676
745
599
492
642
639
748
646
461
630
677
701
675
496
654
640
715
718
523
703
691
727
139.6
137.3
138.0
143.3
148.7
164.1
169.8
171.1
167.8
161.8
' 167.0
171.5
176.6
170.8
452
504
8,751
8798
7,908
7957
772
138.0
176.6
SURVEY OF CURRENT BUSINESS
S-24 • December 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
Annual
1990
1991
Oct.
1991
Nov. |
1992
Dec.
Jan.
Feb. |
Apr. |
Mar.
May |
June
July |
Aug. |
1 376
1 249
Sept.
Oct. |
Nov.
13. LUMBER AND PRODUCTS-Continued
SOFTWOODS-Continued
[Millions of board feet, unless otherwise indicated]
Southern pine:
Orders new
Orders, unfilled, end of period
Production
Stocks (gross), mill and concentration yards, end of
period
Exports total sawmill products cubic meters
Producer Price Index, southern pine, dressed,
1982=100
Western pine:
Orders, new
Orders unfilled end of period
Shipments
Stocks (gross), mill, end of period
Producer Price Index, other softwood, dressed,
1982=100
1
1 169
1 003
697
571
648
719
674
684
741
800
859
708
1 169
1,204
740
571
903
849
709
12367
12,415
671
992
972
758
12911
1
12,763
1250
1,288
1 083
1 126
1 177
1,189
1 180
1 134
1 067
1 024
1 170
1205
1228
1 315
1 115
1,193
1 141
1??9
2,197
2,134
2,071
2084
2134
2,125
2,081
2,069
2,114
2,158
2,125
2,043
1,959
1,990
111 0
111.0
1093
111 0
1137
1177
1285
1339
1357
1342
1264
"1235
127.3
136.6
10,582
9,535
868
552
818
859
732
536
743
748
699
493
688
742
841
577
736
757
695
523
756
749
878
524
880
877
669
470
755
723
746
441
790
774
891
471
832
863
690
442
743
719
888
520
765
810
737
482
746
775
893
499
858
876
1
12 827
12287
1 425
1 072
1 201
1 086
1 035
1,264
1 279
130.2
130.9
483
493
10,452
10605
1,211
9,510
9525
1,196
1,255
1,250
1,196
1,175
1,182
1,185
1,217
1,274
1,200
1,224
1,179
1,150
1,132
126.3
130.0
128.4
130.1
135.2
142.5
157.0
167.3
1707
1679
1596
M538
148.5
152.1
150.2
153.1
13.1
15.0
15.8
16.3
18.2
18.2
17.7
14.7
13.7
14.7
14.1
21.1
166
8.0
161
7.7
191
7.6
163
7.7
194
6.8
184
7.1
165
8.2
185
7.3
173
7.0
201
7.5
15.8
21 1
16.7
186
8.4
195
6.3
'5.7
174
5.6
HARDWOOD FLOORING
[Millions of board feet]
Oak:
Orders, unfilled, end of period
Shipments
Stocks (gross), mill, end of period
8.3
2053
10.0
15.8
1999
7.7
14. METALS AND MANUFACTURES
IRON AND STEEL
[Thousands of short tons]
Exports:
Steel mill products
Scrap
Pig iron
Imports:
Steel mill oroducts
Scrap
Pig iron
.
. . .
Iron and Steel Scrap
[Thousands of metric tons, unless otherwise indicated]
Production
Receipts net
Consumption
Stocks end of period
Composite price, No. 1 heavy melting scrap:
American Metal Market, $ per metric ton
Ore
[Thousands of metric tons]
Iron ore (operations in all U.S. districts):
Mine production
Shipments from mines
Imports
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
Consumption at iron and steel plants
Stocks total end of period
At mines
At furnace yards
At US docks
Manganese (manganese content) general imports
4,303
12765
16
6,346
10301
486
668
1
427
973
4
447
676
3
427
779
3
362
917
4
357
744
4
389
707
2
369
969
2
376
775
2
297
937
1
336
645
2
332
987
3
341
956
3
17162
1,424
15741
1,183
1230
1312
1 325
1 576
1 132
1288
1 584
1 425
1 394
1 390
1438
1,383
1,386
383
479
123
52
98
43
108
33
83
4
84
69
125
75
112
18
165
21
90
61
90
37
144
56
124
25
144
67
23083
39624
63705
3989
21 300
35773
57828
4250
1 777
3,333
5109
3877
1761
3,045
4855
3937
1 736
3132
4880
4250
1 846
3526
5249
4285
1 845
3,333
5226
4243
1 901
2530
5520
4210
1907
3409
5392
4190
1 704
3415
5432
4170
1 825
3,493
5371
4188
1 761
3,215
5059
4187
105.46
91.79
89.12
84.80
84.32
84.32
85.14
86.61
87.24
85.90
83.72
56408
57,010
18054
55516
54,967
13335
4582
5,421
1 168
4290
4673
1494
4840
5835
1 445
4735
2,480
4376
1,745
4412
2,532
4845
5,431
752
367
386
759
5133
6056
1 564
73,797
73681
3,199
21,569
4795
15,910
2273
65,133
63658
4,045
25445
4853
17,611
2981
6,612
5669
1,020
25,117
6256
16,711
2150
6,065
5739
6,232
5641
2,897
5776
2,156
5720
2,836
5970
158
231
75
3
5,604
5809
278
475
25,358
5873
17,030
2455
25,445
4853
17,611
2981
24,527
7131
14,843
2553
23,162
9864
11,309
1989
20,922
11 745
8,175
1 002
54,925
50019
48,503
44638
4,251
3989
4,300
3712
4,338
3830
4,390
4228
4,175
4157
130
214
166
202
214
227
219
8259
6270
7174
5391
290
169
261
140
17
r
1 731
3,320
5211
M132
1 769
3,425
5242
4170
83.66
83.95
84.32
83.00
4624
5,941
1 453
4771
6,049
1282
4630
6,186
1 175
4993
4,859
1 335
4538
5,291
6,997
5823
7,565
5588
7,273
5669
6,453
5,763
708
628
20,550
11 159
7,991
1 400
21,501
10236
9,161
2104
22,492
9027
11,157
2308
23,046
7763
12,769
2514
6,765
5,672
r
526
21,721
6438
13,925
2834
6,525
5,414
540
22,735
5,976
15,040
2923
23,190
5227
15,731
2,938
4,524
4379
4,400
4290
4,444
4307
4,232
4162
4,347
4255
4,299
4258
4,065
4063
5,329
184
211
222
211
216
224
220
r
r
493
Pig Iron and Iron Products
[Thousands of short tons, unless otherwise indicated]
Production (including production of ferroalloys)
Consumption thous metric tons
Stocks end of period thous metric tons
Castings, gray and ductile iron:
Shipments total
For sale
Castings, malleable iron:
Shipments total
For sale
See footnotes at end of tables.
r
December 1992 •
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1953-91
Annual
1991
1990 | 1991
Oct. |
1992
Nov. |
Dec.
*l
Feb. |
Mar. |
A pr. |
May |
June | July 1
Aug. |
Sept. 1 Oct.
14. METALS AND MANUFACTURES-Continued
Steel, Raw and Semifinished
[Thousands of short tons, unless otherwise specified]
Steel (raw):
Production
Rate of capability utilization, percent
Steel castings:
Shipments total
For sale total
Steel Mill Products
98015
84.0
87310
74.2
7711
78.0
7461
78.0
7347
74.4
7754
80.5
7432
82.4
8043
83.5
7875
85.3
7968
83.5
7584
82.1
7545
78.9
7526
78.7
7249
78.3
7742
80.9
6,471
1,133
1,031
1,001
84,981
78,868
7,499
6,427
6,118
6,867
7,101
6,949
6,751
7,105
6,693
6,786
6,934
7,090
6313
6093
7945
6872
5,722
6938
642
548
599
37
522
498
539
27
498
400
538
59
511
481
622
58
543
479
548
56
587
422
635
59
627
445
628
68
571
470
588
47
563
450
414
36
555
478
637
36
580
472
575
32
555
504
578
31
533
539
611
29
1215
626
457
1 063
551
400
1 030
534
395
1 099
600
361
1 027
543
356
1 167
619
413
1 075
590
355
1 062
579
354
1 139
581
437
1 106
518
416
1 144
606
409
1 151
617
403
128
337
80
345
108
302
64
310
97
300
52
371
132
347
75
277
123
298
77
267
130
375
86
344
125
328
87
331
124
364
75
351
1 155
637
380
132
382
79
392
115
338
78
344
113
335
73
354
123
340
323
126
381
71
313
3,696
1,253
1 175
3,102
1,090
2,870
1,008
970
959
3,398
1,154
1 111
3,177
1,096
1 033
3,426
1,133
1 145
3,361
1,128
1 099
3,221
1,042
1035
3,390
1,079
1082
3,087
1,017
1 007
3,259
1,090
1 029
3,388
1,140
1 127
3,461
1,128
1 108
908
[Thousands of short tons]
Steel products, net shipments:
Total (all grades)
Byproduct:
Semifinished products
Structural shapes (heavy), steel piling
Plates
Rails and accessories
Bars and tool steel total
Bars: Hot rolled (including light shapes)
Bars* Reinforcing
Bars: Cold finished
Pipe and tubing
Wire-drawn and/or rolled
Tin mill products
Sheets and strip (including electrical), total
Sheets* Hot rolled
Sheets: Cold rolled
By market (quarterly):
Service centers and distributors
Construction incl maintenance .
Contractors' products
Automotive
Rail transportation
Machinery, industrial equipment tools .. .
Containers, packaging, snip, materials
Other
519
486
14727
7,878
5305
1,486
13214
6,902
4934
1326
4,652
4,488
918
864
4032
39,784
13,388
13199
4040
36,244
12,987
11 356
18,250
7391
2,793
10,444
17,485
6814
2,261
9,445
'
71
4,685
1 684
5,165
1 697
4,872
1897
1,714
1 798
570
613
607
633
2604
2656
2,901
2532
207
355
250
414
941
250
433
190
413
1,100
8965
1038
8747
901
837
2104
4,474
38378
1 648
4,278
36100
140
81
59
129
75
54
124
72
52
127
72
55
129
75
54
130
75
55
133
75
58
134
75
59
133
75
58
134
75
59
130
74
56
131
73
58
67
59
56
56
59
59
60
61
58
59
58
4,048
2,393
4,121
2,210
347
195
337
174
343
167
344
204
320
199
343
191
330
199
342
202
9596
3403
1 0247
2565
904
81 0
224
880
185
1007
931
21 9
21 5
971
250
946
268
6798
437.7
7928
508.7
680
807
673
508
438
497
50.0
34.5
31.0
48.5
47.8
.7404
.5946
.5246
.5241
.5034
.5367
14,761
11,964
7,514
2,049
15,298
11,667
7,501
1,905
1,371
1,034
1,265
1,241
1,313
1,008
649
943
607
4013
3913
3992
3923
1 587.2
1,576.6
1 1832
393.5
4408
1 6344
1,577.4
1 1362
441.2
4178
141 3
141.0
441 3
261 7
1051
8888
8859
2
1,727
2
641
2
237
2
950
2
60
2
135
2
297
2
2 974
[Millions of short tons]
Producing steel mills, inventory, end of period:
Total
Steel in process
Finished steel .
Steel service centers (warehouses), inventory, end of
period
r
73
58
127
70
57
60
54
58
330
190
339
190
340
189
330
192
963
260
878
260
824
300
1034
386
336
398
500
503
52.1
49.9
49.9
52.4
44.8
46.9
5820
5928
6103
.5999
.5842
5982
.5965
.5815
1,263
1,343
1,097
1,245
1,070
1 265
1,075
1 318
1069
1 303
1 062
686
691
687
696
1,334
1,034
r
663
1,339
1,060
702
3872
3916
1520
145.0
1019
1520
149.4
1049
44.4
131
r
NONFERROUS METALS AND PRODUCTS
[Thousands of metric tons, unless otherwise specified]
Aluminum:
Production, primary (dom. and foreign ores)
Recovery from scrap
Imports:
Metal and alloys crude . .
. . .
Plates sheets bars etc
Exports:
Metal and alloys, crude
Plates, sheets, bars, etc
Price, U.S. market, 99.7% purity, monthly average,
$ per Ib.
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.), mil. Ib
Mill products total mil Ib
Sheet and plate, mil. Ib.
Castings mil Ib
Inventories, total (ingot, mill products, and scrap),
end of period mil Ib
Copper:
Production:
Mine, recoverable copper
Refined from primary materials
Electrolytically refined @
Electrowon
Refined from scrap
Imports, unmanufactured:
Refined unrefined scrap (copper cont.) . . .
Refined
Exports:
Refined and scrap
Refined
Consumption refined (reported by mills etc )
Stocks refined end of period
Price, avg. U.S. producer cathode, delivered, $ per
See footnotes at end of tables.
S-25
874
568
209
259
r
r
688
974
608
3913
3872
3876
3899
3971
4032
4008
3869
r
131.7
137.4
1489
134.5
1337
136.7
1279
124.1
1491
139.0
949
975
912
38.8
43.2
45.5
321
39.6
326
39.3
373
278
398
420
348
935
41.8
880
362
341
1552
153.3
1065
46.8
r
986
1430
145.6
1036
151 3
134.4
992
1415
140.3
1002
40.0
367
394
278
4420
2886
592
363
387
268
320
180
376
226
352
245
450
319
446
252
376
253
462
261
450
247
376
253
647.2
2112
2150
679.7
2632
2058
41.3
42.9
52.1
43.2
12.0
48.1
13.0
132
179
154
132
30.5
11 7
101
154
168
120
43.2
21 7
38.4
134
202
111
189
116
199
115
1.2316
1.0933
1.1134
1.1003
1.0297
1.0493
1.0910
4
48.6
39.9
34.2
184
124
184
180
117
108
197
122
123
192
123
1.0072
1.0503
1.0618
1.0474
9.3
173
r
431
354
680
396
132
"154
188
167
1.1865
1.1714
1.1249
r
163
.5373
Nov.
SURVEY OF CURRENT BUSINESS
S-26 • December 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, i963-9i
1991
Annual
1990
I
1991
Oct. |
1992
Dec.
Nov.
Jan.
Feb.
Mar. |
Apr. |
May |
June
July |
31 2
71 0
31 5
324
723
163
338
Aug.
Sept. |
Oct.
Nov.
14. METALS AND MANUFACTURES-Continued
NONFERROUS METALS AND PRODUCTSContinued
[Thousands of metric tons, unless otherwise specified]
Copper-base mill and foundry products, shipments
(quarterly total):
Brass mill products mil Ib
Copper wire mill products (copper content), mil ID.
Brass and bronze foundry products, mil. Ib.
Lead:
Production:
Mine recoverable lead
Recovered from scrap (lead content)
Imports ore (lead content)
Consumption total
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content) ABMS
Refiners' (primary), refined and antimonial (lead
content)
Consumers' (lead content) 0
Scrap (lead-base, purchased), all smelters
(gross weight)
Price, common grade, delivered, $ per Ib. @@
Tin:
Imports (for consumption):
Ore (tin content), metric tons
Metal, unwrought, unalloyed, metric tons . . ..
Recovery from scrap, total (tin content), metric tons
As metal metric tons
Consumption, total, metric tons
Primary metric tons
Exports (metal), metric tons
Stocks, pig (industrial), end of period metric tons
Price, Straits quality (delivered), $ per Ib
Zinc:
Mine prod recoverable zinc
Imports:
Ores (zinc content)
Metal (slab blocks)
Consumption (recoverable zinc content):
Ores
Scrap, all types
Slab zinc:
Production, total $
Exports
Stocks, end of period:
Producers', at smelter (ABMS)
Consumers'
Price, high grade, $ per Ib . . .
389
746
280
261
70.7
75.9
360
761
136
340
340
665
152
M659
1
883.7
128 9
12463
1069
1024
927
1025
99
993
539
688
745
709
688
71 5
714
671
700
655
679
25.5
86.5
9.1
4.1
302
4.5
9.1
9.8
21 6
32.0
46.1
50.8
15.8
54.1
536
252
604
289
626
265
633
149
135
122
122
142
167
173
133
131
165
.3462
.3448
.3465
.3449
.3429
3430
3438
3427
3453
3633
M740
19229
101 3
1
1 275 2
4
72.0
r
201
.4602
168
3348
33810
17,275
29102
r
9,1 72
71 5
1083
177
985
733
157
960
1035
156
948
r
r
326
776
325
777
143
1048
1063
697
678
683
266
686
223
'656
177
660
173
192
3052
2,151
2493
2752
2542
2027
1940
1877
3319
2896
186
203
531
15
472
16
356
0
529
17
499
18
544
17
535
18
543
17
562
17
470
17
44,363
36900
49,000
36900
4,300
3300
4,100
3100
4,000
2900
3,800
2800
3,800
2800
3,800
2800
3,800
2800
3,700
2700
3,800
2800
3,800
2800
658
970
105
63
59
249
119
136
232
113
186
121
4829
3.8629
3024
3.6285
6616
3.5862
6,347
3.5519
3,024
3.5427
3022
3.6786
3369
3.7574
2844
3.7525
2877
3.8683
2901
4.0270
2651
4.3167
3111
4.5323
5154
5178
390
334
380
41 5
488
477
403
407
404
462
467
454
1.0
631 7
5491
10
553
5.3
539
1.0
650
45
520
106
526
39
588
2.3
503
20
397
47
522
61 6
r
71 1
3058
r
551
18
529
17
'3,500
2800
3,600
2900
144
r
3321
4.4188
r
3464
4.3420
68
557
24
24
2
2
2
2
2
2
2
2
2
2
2549
2528
21 1
21 1
21 1
21 1
21 1
21 1
21 1
21.1
21.1
21 1
21 1
21.1
207.8
991 0
1944
9020
166
820
4
16.8
16.5
772
4
172
899
4
17.7
938
5
180
850
4
17.3
760
6
769
6
830
5
17.4
r
845
860
55
162
842
4
17.6
58
175
859
6
4.6
389
5277
3.7
345
4856
4.5
358
5464
4.6
389
5729
5.8
381
5450
6.0
41 6
5289
6.7
370
5695
5.3
370
6053
5.7
395
6317
4.8
454
6375
4.5
369
6239
4.5
395
6495
3.8
375
6537
3
3.9800
484
491
2
4.6
61 0
7459
694
18.1
5
r
18.6
17.1
4.4
4.7
5596
MACHINERY AND EQUIPMENT
{Millions of dollars, unless otherwise specified]
Industrial heating equipment, new orders (domestic),
qtrly #
Electric processing heating equipment
Fuel-fired processing heating equipment
Materials handling equipment, dollar value bookings
index 1982=100
Industrial supplies, machinery, and equipment:
New orders index, seas, adj., 1987=100
Industrial suppliers distribution:
Sales index, not seas, adj., 1990=1.00
Inflation index, not seas. adj. (tools, material
handling equipment, valves, fittings, abrasives,
fasteners metal products etc) 1977=100
Fluid power products shipments indexes:
Hydraulic products, 1990=100
Pneumatic products, 1990=100
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.
433.0
89.6
1403
4040
87.9
1333
733
135
131
1084
21.7
44.0
68.5
14.1
11.4
131 9
1351
1589
1328
1329
1601
1350
1793
1540
1532
121 1
1075
1076
110.0
106.3
102.3
110.8
116.1
115.1
112.8
118.1
125.1
128.2
119.7
1.0000
.9552
1.0616
.8974
.8617
.9854
.9298
1.0213
.9997
.9648
1.0221
.9408
.9708
1.0024
1894
1959
1963
1968
1959
1976
1981
1985
1992
1995
1998
1995
1993
1994
100.0
100.0
87.9
99.3
• 90.3
108.3
81.8
95.7
78.3
92.5
87.7
97.8
86.9
96.9
96.9
106.1
93.3
104.8
89.5
95.9
96.7
105.0
90.9
104.0
90.0
98.5
"96.7
M01.5
99.2
106.3
155.85
13390
17730
15535
1,102.3
161.55
14085
14435
11870
1,119.5
283.65
241 35
21700
181 65
1,186.2
158.55
15340
10625
9750
1,238.4
159.60
14065
14025
121 80
1,257.8
183.40
16320
21545
18570
1,225.8
158.00
13425
15645
13050
1,227.3
109.35
9650
12440
10030
1,212.2
145.50
12475
161 15
13980
1,196.6
154.60
14270
13310
11010
1,218.1
91.50
7480
13170
10725
1,177.9
204.70
16390
19970
r
16570
'1,182.9
119.10
10230
14260
11730
1,159.4
68.80
5135
58.45
4835
273.4
69.15
41.35
85.90
7690
256.6
59.25
43.45
65.00
5290
250.9
58.85
50.85
53.55
38.05
256.2
56.65
45.35
60.75
46.60
252.1
59.40
47.65
71.05
5230
240.4
61.50
56.05
42.85
3465
259.1
49.80
37.60
45.10
33.40
263.8
65.95
50.20
78.30
62.80
251.5
50.75
37.40
50.90
4410
251.3
68.75
60.85
39.75
3315
280.3
71.15
61.60
54.30
4910
297.2
88.05
81.90
55.45
41 00
329.8
2 070.30
1 771 95
232960
2 004 45
1,164.0
1,89395
1 54920
1 871 80
1 595 35
1,186.2
894.40
76055
970.30
851 10
304.4
74815
54635
801.65
62460
250.9
1861
r
r
r
r
86.7
95.6
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
Annual
|
1990
December 1992 •
1991
1991
|
Oct.
S-27
1992
Nov.
Jan.
Dec.
Mar. |
Feb.
May
Apr.
June
July
Aug. |
Sept. | Oct.
Nov.
14. METALS AND MANUFACTURES-Continued
MACHINERY AND EQUIPMENT-Continued
Tractors used in construction, shipments, qtrty:
Tracklaying (ex. shovel loaders) units
Tracklaying (ex. shovel loaders) mil $
Wheel (contractors' off-highway)' mil $
Shovel loaders, units
Shovel loaders, mil. $
8303
1,073.0
4058
3490
57766
1,959.6
ELECTRICAL EQUIPMENT
/Thousands/
Batteries (auto -type replacement) shipments
Radio sets, factory sales, domestic market II
Television sets (inch combination models), production,
total market $$
65187
21,585
21,779
Household major appliances, industry shipments #
Air conditioners (room)
Dishwashers
Disposers (food waste)
Microwave ovens/ranges
Ranges
Refrigerators
Freezers
Washers
Dryers, including gas
Vacuum cleaners (qtriy )
43,194
4,150
3637
4,137
8126
3,444
7,101
6,833
2,213
6,773
1,768
5,729
1,380
19,649
1,846
2,009
2,300
1,257
1,586
1,821
1,489
1,619
1,869
40,997
2,807
3,515
22
3,251
31
3,143
76
3,163
103
3,220
227
4,107
523
3,842
545
3,846
557
4,035
380
342
312
739
319
648
118
593
418
306
280
854
295
513
106
485
373
296
338
272
349
698
253
466
90
512
386
268
294
680
251
477
91
502
356
331
350
689
300
614
128
602
435
321
298
618
302
640
120
508
357
293
304
650
270
657
132
495
356
321
416
628
301
788
176
553
388
300
311
620
281
813
205
486
340
66585
18,530
3571
4,002
7234
3,309
7,273
1296
6192
1414
4,320
11 082
4,313
10970
1 950
2,429
3,906
2057
2,401
3,936
6197
4,351
1,388
fiQfi
282
492
125
468
360
4,405
1,502
2620
5,116
1,585
4367
1,404
4,770
1,344
5,557
1,524
6,099
1,929
6,696
2,813
6,731
2,556
1,402
1,933
2,448
2,046
3,671
243
3,664
106
3,855
5
3,837
24
310
389
736
289
660
166
575
394
329
458
787
305
716
135
625
449
346
331
903
346
691
160
582
434
5,526
1,783
2702
2913
2894
GAS EQUIPMENT (RESIDENTIAL)
[Thousands]
Furnaces warm air shipments
Ranges, total shipments
Water heaters (storage), automatic, shipments
239
245
378
208
226
314
224
215
370
r
153
181
361
163
187
356
158
208
364
152
213
364
142
209
335
166
224
339
176
204
317
195
193
316
224
224
338
257
15. PETROLEUM, COAL, AND PRODUCTS
COAL
[Thousands of short tons, unless otherwise specified]
Anthracite:
Production
Exports thous metric tons
Producer Price Index 1982=100
Bituminous and lignite:
Production
Consumption total
Electric power utilities
Industrial total
Coke plants (oven and beehive)
Residential and commercial
Stocks end of period total
Electric power utilities
Oven-coke olants
Exports excluding lignite thous metric tons
Producer Price Index 1982=100
3506
3445
376
324
258
247
257
279
296
1055
105.6
105.1
106.3
106.3
106.4
106.4
106.4
105.7
992,539
90,445
81,870
79,521
87,979
82,102
85,835
82,364
772 315
61948
63830
66718
158004
158813
158605
158004
8386
9,618
95.8
97.0
3503
3,512
1,025,569
896 427
773549
116,154
39824
6724
168210
156 166
12045
3329
95984
97.3
97.1
96.2
274
1052
80,197
287
180
199
183
178
178
105.2
105.4
105.4
105.9
105.9
105.6
79,968
79,712
83,329
82,536
84,286
78,442
952
95.6
94.7
63.4
58.6
93.6
94.4
93.6
94.7
94.9
95.9
'95.2
96.5
3,710
3,266
5892
3565
3523
3676
5850
3720
3850
3,634
3,546
2,267
2,212
2,170
2,288
60.6
63.1
4231
4186
COKE
[Thousands of short tons, unless otherwise specified]
Production:
Beehive and oven (byproduct)
Petroleum coke §
Stocks, end of period:
Oven-coke plants total
At furnace plants
At merchant plants
Petroleum coke
27616
40332
24046
41493
6117
3,815
1918
2107
2107
2101
1,674
1,856
1,856
1,838
244
252
252
263
1,436
1,953
1,635
1,888
1,953
1,977
2,084
2,026
2027
1,755
271
2,198
2,354
Exports thou metric tons
PETROLEUM AND PRODUCTS
[Millions of barrels, unless otherwise specified]
Crude petroleum:
Producer Price Index, 1982=100
Gross incut to crude oil distillation units
Refinery ooeratino ratio % of capacity
All oils, supply, demand, and stocks:
New supply total 0
Production:
Crude petroleum
Natural gas plant liquids
Imports:
Crude and unfinished oils
Refined products
Change in stocks all oiis
Product demand total
Exports:
Crude petroleum
Refined oroducts
See footnotes at end of tables.
66.3
64.0
55.1
51.3
53.5
56.0
59.2
64.3
49304
4067
3947
4220
4070
3697
4030
4293
4286
'61.9
4395
87
86
83
84
87
84
81
85
86
88
92
91
89
70.9
4981 3
61.9
51.0
4120
91
62087
61298
5171
502.3
509.2
520.1
461.8
500.8
514.6
516.3
500.6
538.7
524.9
509.4
26847
5983
27070
6392
2306
2263
228.3
213.8
226.8
218.7
220.4
214.2
220.0
214.8
210.6
55.0
2198
54.0
23251
6008
22756
5080
1893
1825
1832
55.5
56.5
52.1
197.4
156.5
392
-37
422
304
459
-67
443
-37
380
-74
65129
64657
5553
529.7
569.1
561.9
397
424
272.4
322.8
28
25.6
38
24.0
41
33.5
3.7
31.8
393
55.9
1806
375
-230
-161
514.3
548.7
.6
24.0
3.3
25.0
53.9
55.6
2007
41 3
2005
11 5
531.3
.7
27.4
53.6
1946
56.1
54.2
54.1
2283
215.1
202.9
399
205
383
8
344
183
408
7
418
138
5362
536.6
557.6
549.4
530.9
3.3
24.2
3.2
25.5
1.7
27.1
4.1
20.3
2.0
23.3
*
S-28
SURVEY OF CURRENT BUSINESS
• December 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
Annual
1990
1991
Oct. |
1991
1992
Nov. |
Dec.
Jan. |
Feb. |
Mar. |
Apr.
May |
June |
July |
Aug. |
Sept. |
5088
2267
507.8
2244
5288
2366
525.0
2308
505.5
2209
.3
1.7
.4
.6
80.9
83.2
31 0
84.8
87.9
284
488
44
260
433
46
207
Oct. |
Nov.
15. PETROLEUM, COAL, AND PRODUCTS-Continued
PETROLEUM AND PRODUCTS-Continued
[Millions of barrels, unless otherwise specified]
All oils, supply, demand, and stocks—Continued
Domestic product demand, total #
Gasoline
Kerosene
Distillate fuel oil
Residual fuel oil
Jet fuel
Lubricants
Asphalt
Liquefied petroleum gases
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
Prices, regular grade (excl. aviation):
Producer Price Index, 1982=100
Retail, U.S. city average (BLS):
Leaded, $ per gal
..
Unleaded, $ per gal
Aviation gasoline:
Production
Stocks end of period
Kerosene:
Production
Stocks, end of period ..
. .
Producer Price Index (light distillate), 1982=100 .
Distillate fuel oil:
Production
Imports
Stocks end of period
Producer Price Index (middle distillate),
1982=100
Residual fuel oil:
Production
Imports
Stocks, end of period
Producer Price Index 1982=100
Jet fuel:
Production
Stocks, end of period
Lubricants:
Production
Stocks end of period .
Asphalt:
Production
Stocks end of period
Liquefied petroleum gases:
Production, total
At gas processing plants (L.P.G.)
At refineries (L R G )
Stocks (at plants and refineries)
6,200.8
26496
15.5
1,102.5
4485
555.6
6,100.6
2631 7
16.9
1,066.1
422.6
537.1
526.9
2264
501.9
2108
531.5
2244
526.4
2155
489.7
2037
.8
3.4
3.3
3.5
94.5
87.6
95.7
100.0
319
462
47
188
342
441
41
103
405
407
458
47
58
50.5
54.6
59.7
59.3
21
939
381
403
43
60
594
358
424
46
73
522
46.3
42
71
520.4
9P91
25
98.6
5031
2182
10
920
314
41 9
7
853
319
412
56
154
300
431
46
207
445
45
203
46.2
47.5
16021
8945
569.5
1569
5507
1 6204
9022
569.6
1561
5622
597
534
1763
568.0
1622
616.3
1 6206
9084
585.7
1454
5668
1 6170
8931
568.5
147.1
5767
1 6440
9107
568.5
1592
5741
1 6472
9120
568.5
1548
5803
1 6170
8931
568.5
147.1
5767
1 6084
9097
568.5
151 9
5468
15854
9148
568.5
1536
5088
1 5693
'9071
568.5
1589
5032
1 5808
9164
568.5
1555
5089
25484
182.4
25540
1833
2099
168.3
2109
175.0
2285
183.3
2190
192.8
1963
1914
2081
1829
2093
1841
2209
1873
2167
189.6
2240
183.1
2123
1682
2125
169.8
69.2
69.9
70.1
67.0
60.6
599
60.4
645
733
79.1
79.7
78.8
75.9
76.1
1.073
1.054
1.058
1 079
1 136
1.179
1 175
1.158
1.158
1.154
.7
18
5
.6
8
.7
.9
.9
.8
16
16
.5
15
16
14
16
16
17
13
10
8
38
6
40
13
38
g
5.1
5.7
61.2
63.5
66.5
64.2
63.8
953
888
895
80.3
1.149
1.164
1.140
1.122
1.134
8.0
.7
.4
16
17
.5
16
16
163
56
140
58
11
16
17
6.4
59
75.4
65.9
65.5
68.7
942
931
10675
101 5
1322
735
3466
1838
48.6
572
51 0
1 601 3
9118
568.5
1531
5364
21 8
46.5
48.6
1 621 1 1 6349
8934
571.4
570.1
163.3
1550
5673
5783
1 081 0
1.123
5.8
21
4.7
48
42
7
38
63.6
54.4
59.0
55.8
57.0
963
87.4
777
853
886
91 1
900
60
67
977
60
920
56
965
1043
560
590
621
654
299
102
400
437
748
64
75
78
70
1435
1383
1445
1435
1267
652
676
71 0
622
544
277
141
430
402
307
121
404
353
270
103
383
388
341 1
1654
499
491
1085
573
252
136
483
519
269
136
490
405
326
170
499
452
299
109
443
379
430
41.9
44.7
381
429
41 8
385
11
71
1271
646
633
653
682
642
268
100
399
468
260
87
383
455
253
107
430
492
243
105
473
505
495
536
431
454
41 2
457
45.6
434
448
46.5
456
47.9
45
49
109
51
11 6
47
118
165
197
169
164
567
5250
488
43.9
47.7
48.1
474
488
438
41 6
612
124
570
123
45
122
42
121
47
123
48
123
45
122
50
123
52
124
11 1
44
106
1640
1568
187
223
144
184
106
199
90
223
77
248
81
277
95
305
125
321
141
320
157
276
164
244
6384
456.2
1822
6831
487.5
1956
560
536
561
562
42.7
40.3
221
171
923
117.4
1075
220
846
232
979
135
782
630
409
221
41.2
136
923
655
425
230
993
624
42.5
123
628
427
201
725
644
41.3
140
551
399
152
676
634
42.0
1097
1203
131 8
1329
39.6
PULPWOOD
[Thousands of cords (128 cu. ft,)]
1
1
99,304
99 109
5,961
98659
98242
5688
8602
8293
6122
7839
7966
6126
8095
8006
5688
8824
8626
5717
8086
7935
5711
8194
8166
5655
8101
8411
5580
8331
8693
5594
8711
8861
5484
9048
9209
5373
8765
8924
5358
20,981
22733
1076
2017
1065
1 930
1054
1883
1076
2,024
1,097
1 917
1 045
2114
1 030
2002
1 040
2076
1 056
2095
1 090
2058
1 112
2117
1078
2101
1 111
63818
1 370
51950
6,404
4,094
5483
5186
5472
5681
5254
5525
5489
5320
5417
5711
5419
5318
219
518
451
WASTE PAPER
[Thousands of short tons]
1
Inventories, end of period
915
WOODPULP
[Thousands of short tons]
Production:
Total
Dissolving pulp
Paper grades chemical pulp
Groundwood and thermo-mechanical
Semi-chemical
Inventories, end of period:
Producers' own use
Producers' market
Consumers' purchased
/
[Thousands of metric tons]
Exports, all grades, total
Dissolving and special alpha
Allother
Imports, all grades, total
Dissolving and special alpha
All other
See footnotes at end of tables.
1
63 050
1293
51 192
6,345
4,219
226
476
392
108
121
4270
4,462
556
372
535
336
546
344
548
363
197
547
347
195
513
345
219
518
451
247
548
450
105
4,451
139
4,631
120
114
110
127
115
129
101
4528
4499
4343
4433
4676
4408
4350
511
332
529
349
537
340
521
347
521
335
558
363
543
339
531
337
245
571
410
236
480
438
225
530
434
240
570
385
230
507
423
225
596
399
245
676
388
228
710
370
110
4,301
63.1
73
53
1154
543.2
52.1
41 4
65.8
1228
47
16. PULP, PAPER, AND PAPER PRODUCTS
Receipts
Consumption
Inventories end of period
75.3
(2)
8.5
17
48
114
468
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1953-91
Annual
1990 |
December 1992 •
1991
1991
Oct. |
Nov. |
S-29
1992
Dec.
Jan.
Feb. |
Mar.
Apr.
May |
June |
Sept.
July
Aug.
6899
3362
3,538
6,914
3421
3,492
6,839
3379
3,460
134.2
118.8
135.9
119.8
136.8
124.2
Oct.
Nov.
136.5
123.4
133.6
122.1
16. PULP, PAPER, AND PAPER PRODUCTS-Continued
PAPER AND PAPER PRODUCTS
[Thousands of short tons, unless otherwise specified]
Paper and board:
Production (API):
Total
Paper
. ..
Paperboard
.
Producer Price Indexes:
Paperboard 1982=100
Building paper and board, 1982=100
Selected types of paper (API):
Groundwood paper:
Orders new .
.
Orders, unfilled, end of period
Shipments
Coated papers:
Orders new
Orders, unfilled, end of period
Shipments
Uncoated free sheet:
Orders, new
1
78,782
39359
39,423
79531
39115
40,416
7049
3528
3522
6530
3173
3,357
6619
3145
3474
6816
3314
3510
6553
3191
3362
6988
3376
3612
6707
3273
3,433
6706
3201
3505
6821
3295
3,526
1359
112.2
1302
111.8
1327
110.9
1328
1106
1332
1109
1334
112.5
1336
117.1
1334
119.2
1343
118.5
1343
119.1
1343
118.9
M 868
221
1 806
1778
230
1 775
138
283
163
105
245
143
129
225
140
151
255
128
117
332
116
131
317
134
110
226
127
140
229
124
131
257
123
155
274
140
150
263
139
160
266
129
!
7430
589
7,536
7294
576
7,310
660
666
685
527
600
588
550
576
566
665
641
597
637
685
602
627
689
616
583
636
583
642
664
625
640
665
655
661
699
664
683
696
658
614
607
685
1
11,479
1
11 503
11,544
11 552
1,098
1 088
946
923
813
929
999
969
1,068
956
1 068
1 001
990
981
906
926
991
957
1,054
997
1,008
999
961
989
*2377
^5802
2276
5669
190
486
176
458
182
464
210
480
193
466
208
502
196
470
193
480
193
470
190
456
201
497
188
493
9,068
9,074
315
8,977
8,756
536
706
735
606
699
686
619
615
714
536
720
665
618
707
654
671
710
737
644
703
741
606
778
815
569
692
766
494
685
754
424
747
724
448
737
785
400
5,997
6007
46
12127
802
6,206
6154
98
11 380
816
530
513
139
1 051
804
527
545
122
1 012
764
528
552
98
952
816
551
546
103
894
902
509
517
95
878
819
532
532
95
541
541
95
530
539
85
519
526
78
-552
565
65
542
545
62
513 , 570
516
556
59
73
1195
1209
1173
1164
1162
1153
1148
1123
1088
1083
1066
1066
1062
1088
1089
318,102
320,180
31,358
25,150
23,453
28,934
25,532
27,730
29,178
26,856
28,368
28,886
27,898
27,956
30,517
1
Unbleached kraft papers:
Shipments
Tissue paper production
[Thousands of metric tons, unless otherwise specified]
Newsprint:
Canada:
Production
Shipments from mills
Inventory, end of period
United States:
Production
Shipments from mills
Inventory end of period
Estimated consumption all users 0
Publishers' stocks end of period #
Producer Price Index, standard newsprint,
1 982=100
Paper products:
Shipping containers, corrugated and solid fiber
shipments, mil. sq. ft. surf, area
r
r
17. RUBBER AND RUBBER PRODUCTS
RUBBER
[Thousands of metric tons, unless otherwise specified]
Natural rubber:
Consumption
Stocks end of period
Imports, incl latex and guayule
U S Import Price Index 1985=100
Synthetic rubber:
Consumption
Stocks end of period
Exports (Bureau of Census)
2
83903
9434
860.34
1041
997
101 2
1079
1056
1026
211453
1 820 78
40366
)
TIRES AND TUBES
/Thousands/
Pneumatic casings:
Shipments total
Original equipment
Replacement equipment
Exports
Stocks end of period
Exports (Bureau of Census)
Inner tubes:
ExDorts (Bureau of Census)
See footnotes at end of tables.
1
21 0,662
260 424
54191
188838
17,393
42649
...
202,390
256875
48582
188303
18,998
35533
19,588
25656
5296
18448
1,826
34567
16,354
19392
4106
13846
1,359
34 772
15,173
17661
3064
13,145
1,452
35533
18,772
19590
3868
13925
1,777
38400
18,762
19895
4175
14076
1,645
40687
20,356
23702
4783
17128
1,789
41 212
19065
23447
4726
17068
1653
40981
18874
23492
5039
16841
1 612
40576
19,380
24170
4723
17,662
1,784
40201
17,273
21 910
3282
16,964
1,665
39918
20,306
23 472
4507
17,171
1,795
40654
19,975
24589
4518
18,152
1,919
39789
838
879
359
1087
S-30
SURVEY OF CURRENT BUSINESS
• December 1992
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1953-91
Annual
1992
1991
1991
1990
Oct. |
Nov.
Dec.
Jan. |
Feb. |
Mar. |
Apr. | May
June
July
Aug.
Sept. |
44,625
43,913
43,700
44,239
" 118.4
118.5
118.5
Oct.
Nov.,
18. STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement, thous. bbl.
1
467,211
1
41 5,203
44,163
31,667
26,041
24,482
24,541
30,474
37,654
40,482
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face), mil. standard
brick . .
Structural tile, except facing, thous. sh. tons
Sewer pipe and fittings, vitrified, thous. sh. tons
Floor and wall tile and accessories, glazed and
unglazed, mil. sq. ft.
Producer Price Index, brick and structural clay tile,
12/84=100
6,872.7
P
1,341.4
5,404.8
U
1 1937
1,537.3
195.6
43.8
39.1
509.2
429.8
112.8
114.1
115.1
116.2
1,471,447
1,350,658
289,704
284,986
281,111
277,657
25,331
24,498
22,898
21,044
17,455
18,207
22,502
21,054
24,193
20,545
25,982
25,558
24,703
24,269
23,986
25,188
24,730
26,269
25,138
26,181
'25,247
r
25,056
23,313
24,206
23,546
60,261
88,551
26,297
23,477
57,141
84,304
24,038
1,870
4,686
7,133
2,033
1,380
3,845
6,511
1,831
1,202
3,710
5,661
1,673
1,692
3,871
6,402
1,941
1,898
3,843
6,341
1,818
2,407
4,939
7,823
2,342
2,304
4,810
7,695
2,306
2,292
5,259
7,936
2,301
2,668
5,592
7,851
2,616
2,506
5,231
8,426
2,419
2,924
4,757
7,506
'2,459
2,649
4,617
7,279
2,022
71,967
74,683
7,292
6,128
4,895
5,852
5,312
6,621
5,784
6,190
6,364
6,531
r
6,098
6,511
13,190
1,174
43,162
12,816
1,198
44,058
1,348
136
44,103
1,254
95
45,638
988
78
44,058
1,147
149
45,208
1,139
194
48,579
1,294
132
49,726
1,270
100
48,947
1,113
97
48,145
1,030
148
46,215
915
153
45,297
r
1,149
"45,407
1,003
125
44,326
. M4.760
1
14,688
1,373
1,401
1,199
1,168
1,204
1,073
1,312
1,294
1,206
1,253
1,220
1,421
1,283
1,344
1,164
1,201
1,320
1,321
1,404
1,423
1,390
"1,395
1,411
1,399
116.4
116.5
116.5
116.6
116.6
116.9
38.2
1181
117.2
117.8
118.3
119.4
119.3
GLASS AND GLASS PRODUCTS
[Thousand gross, unless otherwise specified]
Flat glass, mfrs.' shipments, tfious. $
Glass containers:
Production
Narrow-heck containers:
Food
Beverage
Beer
Liquor and wine
Wide-mouth containers:
Food and dairy products
Narrow-neck and wide-mouth containers:
Chemical, household, and industrial
Stocks, end of period
340,555
378,380
391,358
"163
GYPSUM AND PRODUCTS
[Thousands of short tons]
Production:
Crude gypsum (exc. byproduct)
Calcined
Imports, crude gypsum
Sales of gypsum products:
Uncalcined
Calcined:
Industrial plasters
Building plasters, total (incl. Keene's cement)
[Millions of square feet]
Board products, total
Lath
i
Veneer base
Gypsum sheathing
Regular gypsum board
Type X gypsum board
Predecorated wallboard
Vie mobile home board
Water/moisture resistant board
1
1
15,658
16,272
1
8,726
1
7,634
764
588
717
748
442
525
729
745
948
675
562
1
5,310
'5,272
467
482
496
425
382
377
398
446
525
515
481
485
1,748
1
39
23
1,097
460
9
62
58
1,435
1
31
18
916
368
7
48
46
1,363
1
31
16
865
361
6
40
43
1,625
1
38
36
1,034
403
7
54
53
1,537
1
34
32
985
377
6
53
50
1,622
1
34
34
1,009
412
7
69
55
1,466
1
31
31
914
370
7
66
47
1,706
1
39
37
1,062
435
7
70
54
1,908
1
45
40
1,204
480
7
72
58
1,661
1
38
38
1,032
415
7
80
51
1,806
1
39
40
1,147
437
8
78
55
14
451
1,674
682
744
3
3552
3552
16958
16,958
14,016
2,395
16167
16167
9,140
6,520
547
507
4
i *!
8
'20,445
15
442
268
12,268
5,978
98
713
662
1
18,317
12
396
227
11,286
5,033
85
670
608
1,862
1
40
42
1,184
460
7
68
59
19. TEXTILE PRODUCTS
FABRIC
[Millions of linear yards]
Woven fabric, finishing plants:
Production (finished fabric)
Cotton
....
Manmade fiber and silk fabrics
Inventories held at end of period
Cotton
Manmade fiber and silk fabrics
Backlog of finishing orders
Cotton
Manmade fiber and silk fabrics
COTTON AND MANUFACTURES
[Thousands of running bales, unless otherwise
specified]
Cotton (excluding (inters):
Production:
Ginnings 0
Crop estimate thous net weight bales §
Consumption
Stocks in the United States total end of period #
Domestic cotton total . .. .
On farms and in transit
Public storage and compresses
Consuming establishments
See footnotes at end of tables.
15,064
15505
^8383
11978
11978
1,522
9,875
581
17,146
17614
6
8,474
13,275
15,891
16,766
7,595
5
3
730
3
718
752
7240
7240
5953
5953
3
8,367
13579
13,579
1,924
11,075
2,199
13579
13579
1,924
11,075
870
11 748
11 748
864
499
189
330
268
140
83
10,290
9,206
7,696
6,273
5,057
3,723
2,806
18282
18282
15,426
2,227
580
580
594
580
631
637
628
641
663
629
10285
10285
898
8516
8516
885
4504
4504
910
764
12,599
16?59
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
Annual
1990
December 1992
Oct. | Nov.
S-31
1992
1991
1991
•
Dec.
Jan.
Feb. |
Mar.
Apr. |
May |
June |
July |
Aug. |
Sept. |
Oct. | Nov.
19. TEXTILE PRODUCTS-Continued
COTTON AND MANUFACTURES-Continued
Cotton (excluding (inters)—Continued
Imports thous net weight bales .
Price(farm), American upland, cents per Ib. 0
Price,1 Strict Low Middling, Grade 41, staple 34
(1 /ie"), average 10 markets, cents per Ib.
Spindle activity (cotton system spindles):
Active spindles, last working day, total, millions
Consuming 100 percent cotton, millions
Spindle hours operated, all fibers, total, billions
Average per working day, billions
Consuming 100 percent cotton billions
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (ptrly) mil sq yd
Orders, unfilled, end of period, compared with
average 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 equivalent, thous. net weight
boles §
Imports, raw cotton equivalent, thous. net weight
bales § .
...
.. .. .
Producer Price Index, gray cotton broadwovens,
1982=100 .
.
2
67.1
3
74.8
56.8
62.7
60.9
55.6
51.6
49.6
49.9
52.0
52.2
56.9
55.3
53.8
52.6
'52.7
50.6
56.7
58.3
54.7
53.9
51.5
50.8
52.0
55.0
55.4
58.8
60.9
57.6
53.5
49.5
50.0
8.8
3.8
5.8
.233
4
2.3
8.7
3.7
4.8
.241
2.0
8.7
3.8
> 4 5.9
.236
4
2.4
8.7
3.8
4.8
.237
2.0
8.7
3.8
4.8
.240
2.0
8.6
3.7
5.6
.226
4
2.3
8.5
3.7
4.2
.212
1.8
8.5
3.7
4.6
.231
2.0
8.5
3.6
5.5
.220
4
2.3
8.4
3.5
4.6
.230
2.0
'117.3
1172
117.3
116.9
117.1
119.4
3
9.7
3.8
65.8
.254
25.8
9.2
3.7
60.4
.231
24.3
9.2
3.7
14.8
.224
5.9
4,464
4,404
1 094
113.8
114.9
206.2
299.1
213.2
273.3
55.3
67.5
52.6
66.6
60.5
70.5
547
68.4
4,193.7
3,990.8
4,282.3
3,984.1
1,121.9
1 0677
1,064.0
1,008.0
'1,119.8
r
1 0455
1,135.3
1,026.6
9.4
17.3
10.4
27.0
10.4
27.0
10.9
26.9
12.2
33.4
13.1
29.8
304.2
347.0
351.1
333.7
351 1
333.7
3424
321.2
' 31 0.8
'336.2
316.0
326.4
115.7
115.5
120.6
12.1
71.7
21.4
50.3
137.2
14.4
86.5
18.2
68.2
2.56
3.70
140.7
169.6
115.4
115.8
115.9
4
4
4
1 144
116.9
116.8
116.7
4
4
4
4
1 163
116.7
116.8
117.5
MANMADE FIBERS AND MANUFACTURES
[Millions of pounds]
Fiber production, qtrly:
Cellulosic filament yam
Rayon staple, including tow
Noncellulosic, except textile glass:
Yarn and monofilaments
Staple incl tow
Textile glass fiber
Fiber stocks, producers', end of period:
Cellulosic filament yam ..
Rayon staple including tow
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
Staple incl. tow
Manmade fiber and silk broadwoven fabrics:
Producer Price Index, gray synthetic broadwovens,
1982=100
116.8
118.2
7.8
2.5
5.4
5.1
1.2
3.9
33.9
3.6
9.0
1.2
7.8
1.58
1.48
1.48
2.42
2.15
2.74
116.5
119.0
121.8
122.0
'122.6
122.7
122.7
120.8
10.6
2.5
8.1
8.8
2.4
6.5
359
4.3
6.2
2.0
4.2
6.9
1.9
4.9
5.0
1.8
3.3
3.9
1.7
2.1
5.5
1.0
4.5
1.95
1.96
1.99
1.93
1.88
1.88
1.88
1.73
1.55
2.77
2.64
2.68
2.56
2.24
2.20
2.02
2.05
119.9
120.3
10.2
2.4
7.8
8.1
1.7
6.4
36.9
4.6
7.3
2.0
5.3
1.55
1.63
1.77
2.70
2.59
2.80
120.9
WOOL AND MANUFACTURES
[Millions of pounds, unless otherwise specified]
Wool consumption, mill (clean basis):
Aooarel class
Carpet class
Wool imports clean yield t
Unimproved and other grades not finer than 46's ...
48's and finer
Wool prices, raw, shorn, clean basis:
Domestic—Graded territory, 64's, staple 2%" and
up, delivered to U.S. mills, $ per Ib
Australian, 64's, Type 63, duty-paid, price at
Australian Wool Corp., Charleston, SC, $perlb.
Wool broadwoven goods, exc. felts:
Production (qtriy ) mil sq yd
41.5
456
47.2
5
()
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other),
shipments, quarterly, mil. sq. yd. f
' 1,360.1
' 1,255.7
309.9
332.7
341.8
18,120
172,317
7,728
92,778
18,592
159,332
11,208
93,094
4,901
33,865
2,904
21,240
3,300
44,903
2,556
25,734
4,027
41,212
2,904
23,552
298,988
38,761
305,462
36.721
72,772
8,878
71,296
9,562
79,412
9,168
APPAREL
[Thousands, unless otherwise indicated]
Women's, misses', juniors' apparel cuttings, qtrly:
Coats
Dresses
.
Suits (incl pant suits jumpsuits)
Skirts
Slacks, jeans, dungarees, and jean-cut casual
slacks
Blouses thou doz
See footnotes at end of tables.
347.2
SURVEY OF CURRENT BUSINESS
S-32 • December 1992
1991
Annual
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91
1990
1991
Oct. | Nov.
1992
Dec.
Jan.
Feb. |
Mar. | Apr.
May |
June
July |
Aug. |
Sept. |
Oct. |
Nov.
19. TEXTILE PRODUCTS-Continued
APPAREL-Continued
[Thousands, unless otherwise indicated]
Men's apparel cuttings, qtrly:
Suits
Coats (separate), dress and sport
Trousers, slacks, jeans, pants, etc
Shirts, dress and sport, thous. doz.
Hosiery, shipments, thous, doz. prs
11,302
13,945
458,476
103,239
328,622
9,559
13,854
486,143
90,439
324,867
31,948
28,226
2403
3,448
129,117
24028
24,191
2699
3603
118,164
27084
4
76,978
2456
3216
123,091
26380
85,160
79,367
20. TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
[Millions of dollars]
Orders new (net) total
U.S Government
Prime contract
Sales (net) receipts or billings total
U.S Government
Backlog of orders end of period #
U.S. Government
Aircraft (complete) and parts
Engines (aircraft) and parts
;
Missiles, space vehicle systems, engines,
propulsion units and parts
Other related operations (conversions,
modifications) products services
Aircraft (complete):
Shipments
Exports commercial
3
145 965
56,264
1 41,293
3
3
3
3
136 646
73,552
3
250,079
82,01 7
146,382
3
26,558
3
3
3
3
3
132 644
66,668
129 924
3
3
134 578
66 710
3
247,597
3
84,827
147;551
3
24,734
3
3
31 ,648
3
32,981
3
15 961
3
14 575
18444
22629
6050
5,502
9,499
6898
2,601
5407
4874
8,388
2701
1 951
1 890
2711
572
523
719
CR|
526
193
83
6.1
22
462
416
623
V
458
165
83
6.2
21
378
338
^6U
438
173
79
5.9
20
404
371
573
,664
1945
MOTOR VEHICLES (NEW)
[Thousands, unless otherwise specified]
Passenger cars:
Factory sales (from U.S. plants):
Total
Domestic
Retail sales, total, not seas, adj
Domestics §
Imports §
Total seas adj at annual rate millions
Domestics millions §
Imports millions §
Retail inventories, domestics, end of period: §
Not seasonally adjusted
i
Seasonally adjusted
Inventory-retail sales ratio, domestics
Exports (Bureau of Census) total
To Canada
i
.
Imoorts (ITC) comolete units
From Canada total ;
Registrations 0, total new vehicles
Imports, including domestically sponsored
Trucks and buses:
•
Factory sales (from U.Sl plants):
Total
. .... ,
...
Domestic
M
Retail sales: i
•,'
Total, not seasonally adjusted *
0-1 0,000 libs. GVW, domestics
0-10,000 IDS. GVW, imports *
10,001 IDS. GVW and over t
Total, seasonally adjusted *
0-10,000 Ibs. GVW domestics
0-10,000 Ibs. GVW, imports *
10 001 Ibs. GVW and over f
Retail inventories, domestics, end of period:
Not seasonally adjusted! I......:
Seasonally adjusted @ .
Exports (BuCehsus) ....:....
'.
Imports (BuCensus), including separate chassis
and bodies L........:i
..
Registrations 0, hew vehicles, excluding buses not
, produced on truck chassis
Truck trailers and chassis, complete (excludes
detachables) shipments number
Van type, number ...^....i. i.
Trailer bodies (detachable), sold separately number
Trailer chassis (detachable) sold separately number
1,408
6137
2,251
AM
404
156
80
5.9
21
497
167
85
6.2
23
506
457
735
""541
194
83
6.0
23
'417
506
454
J29
546
183
82
60
22
548
489
747
182
84
63
21
572
523
J88
635
203
89
67
22
362
334
~Z49
573
176
83
64
19
is
474
436
688
418
388
_66D
483
177
80
60
20
~516
173
83
6.3
20
1,243
1 379
2.5
1,283
1 301
2.5
1,267
1 310
2.6
1,316
1 310
2.5
1,283
1 301
2.6
1,318
1 258
2.5
1,304
1 242
2.4
1,303
1 256
2.5
1,422
1 303
2.6
1,345
1 335
2.6
1,341
1 326
2.4
1,151
1 350
2.5
1,166
1 430
2.9
39446
12202
9,103
3,459
37365
1 196.0
8,234
3,295
3694
3236
3152
3104
1151
2904
111 3
1221
692
283
610
247
590
225
665
253
693
260
692
257
837
312
2604
71 6
754
287
2570
824
611
2890
864
628
253
3148
1093
2931
1051
2973
851
619
245
2856
1208
3373
3035
378
347
303
272
244
218
249
232
302
277
376
342
349
317
365
331
368
334
232
212
330
306
344
319
4,156.0
3,594.6
329.6
283.2
310.8
272.8
352.4
307.0
295.9
258.5
325.9
289.1
395.2
348.3
417.4
370.8
424.4
381.0
459.3
415.9
410.4
365.4
406.8
366.8
408.4
367.3
3192
26.4
20.0
21.5
16.5
23.6
21.9
19.0
18.4
17.8
19.0
23.8
23.0
21.0
25.7
21.3
22.1
19.4
23.9
20.8
24.2
17.7
17.4
23.7
341.4
2974
354.2
3099
377.2
3324
344.2
3007
25.4
24.9
23.5
186
195
21 4
22.8
20.7
363.1
3204
214
21 3
370.5
3268
220
21 7
381 8
3374
212
231
3975
3550
204
221
411 9
3707
190
222
3682
3267
191
224
1418
3719
3448
4,649.9
3,947.5
404.0
298.4
242.2
1002
1,074.3
1 1032
985.5
1 011.9
1,004.3
1),017.6
1,054.4
1 023.0
985.5
1011.9
1,025.8
1,009.7
1,105.2
1 0731
1,166.6
1 1256
1,166.7
1 1475
1,169.5
1 1309
1,140.1
1 081 4
1,000.6
1 0670
4,798
4,345
370
321
357
351
313
373
406
412
482
436
149117
103,894
(5)
122477
84,626
(5)
,
11346
8,006
10059
7,456
9970
7,211
12279
9,220
13007
10,028
14011
10,594
14645
11 140
15 174
11859
16060
12468
13731
10423
3179
2,816
3,527
2,675
2,290
2,425
1967
1836
1729
1423
17,214
24,491
32,063
32,063
27,197
27,197
11 328
11,328
24,674
24674
22,682
22,682
5,943
5,943
6,383
6,383
4,660
4,660
8,421
9215
9215
9,215
9,215
12975
12975
222
405.8
3686
r
-2.6
Equipment manufacturers
New orders
Unfilled orders end of period
Equipment manufacturers
Freight cars (revenue), class I railroads (AAR): $
Number owned end of period thousands
Capacity (carrying) total end of month mil tons
Avsraae oer car tons
See footnotes at end of tables.
8421
5,962
5,962
8,354
8,354
15367
15,367
1,215
1 339
2.6
711
293
389.3
3484
14.5
17.2
237
>615
e
465
150
•'82
6.2
«2Q
1,249
1 332
2.6
994.6
1 060.5
389
642
249
(2)
M24.3
379.9
17.6
'26.8
M57.8
4151
17.4
r
374.8
338.2
16.0
20.6
424.2
381 2
18.7
253
243
996.0
1 ,056.6
1,047.1
1,062.4
1,081.0
1,047.1
446
392
15 887
12467
15955
12493
1429
1,642
RAILROAD EQUIPMENT
[Number, unless otherwise specified]
Freight cars (new), for domestic use; all railroads and
private car lines (excludes rebuilt and export cars):
709
""'537
172
83
6.3
20
1027
227
r
(2)
7,509
7,509
4,620
4,620
12479
12,479
SURVEY OF CURRENT BUSINESS
December 1992 • S-33
FOOTNOTES FOR PAGES S-l THROUGH 8-32
General notes for all pages:
r Revised,
p Preliminary,
e Estimated,
c Corrected.
Address requests for data to:
Business Statistics Branch
Business Outlook Division (BE-52)
Bureau of Economic Analysis
U.S. Department of Commerce
Washington, D.C. 20230
Page S-1
Page S-8
f Revised series. See Tables 2.8-2.11 in the July 1992 SURVEY for revised estimates for 1989-91.
Also see the article on the comprehensive revision of the national income and product accounts that
appears in the December 1991 issue of the SURVEY.
I Includes inventory valuation and capital consumption adjustments.
§ 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.
# Includes data for items not shown separately.
f Effective with the July 1992 SURVEY, M3 data have been revised to benchmark the data to the
1989 and 1990 Annual Surveys of Manufactures, and to reflect updated seasonal factors.
1. Advance estimate.
2. Beginning with Feb. 1989 data, associations in conservatorship are excluded.
0 Home mortgage rates are under money and interest rates on p. S-14.
§ Data include guaranteed direct loans sold.
# Includes data for items not shown separately.
@ Data are for closed mortgage loans of thrift institutions insured by the Savings Association
Insurance Fund (SAIF)-FSLIC-insured institutions prior to Sept. 1989.
f Effective June 1992 SURVEY, estimates of wholesale sales have been revised back to January
1989 and wholesale inventories have been revised back to December 1990. Revised data and a
summary of changes appear in the report Revised Monthly Wholesale Trade, Sales and Inventories
January 1986-March 1992, BW/91-RV, available from the Bureau of the Census, Washington, DC
20233.
t Effective June 1992 SURVEY, retail trade data have been revised. Estimates of retail sales
have been revised back to December 1991 and inventories have been revised back to January 1982.
Revised data and a summary of changes will appear in the report Revised Monthly Retail Sales
and Inventories, January 1982-December 1991, BR92-R, available from the Bureau of the Census,
Washington, DC 20233.
Page S-4
Page S-9
Page S-2
1. Based on data hot seasonally adjusted.
# Includes data not shown separately.
Page S-3
1. Based on data not seasonally adjusted.
1. Advance estimate.
# Includes data for items not shown separately.
# Includes data for items not shown separately.
| Includes textile mill products, leather and products, paper and allied products, and printing and
t The participation rate is the percent of the civilian noninstitutional population in the civilian
publishing industries; unfilled orders for other nondurable goods industries are zero.
labor force. The employment-population ratio is civilian employment as a percent of the civilian
noninstitutional population, 16 years and over.
0 For these industries (food and kindred products, tobacco, apparel and other textile products, petroleum and coal, chemicals and allied products, and rubber and plastics products) sales are
@ Data include resident armed forces.
considered equal to new orders.
t See note y for p. S-8.
t See note "f" for p. S-3.
Page S-5
1. Based on data not seasonally adjusted.
@ Compiled by Dun & Bradstreet, Inc.
# Includes data for items not shown separately.
§ Ratio of prices received to prices paid (parity index).
J See note T for p. S-4.
t In the Feb. and July issues of the SURVEY each year, data for the most recent six to eight years
are subject to revise and are available upon request,
tt See note "f" for p. S-3.
Page S-6
§ For producer price indexes of individual commodities, see respective commodities in the Industry
section beginning p. S-19. All indexes subject to revision four months after on'ginal publication.
# Includes data for items not shown separately.
Page S-10
1 The unemployment rates are the number of unemployed in each group as a percent of the civilian
labor force in that group.
§ Effective with June 1992 SURVEY, data have been revised, back to April 1990, unadjusted, and
back to Jan. 1987, seasonally adjusted, to reflect new benchmarks and seasonal adjustment factors.
The June 1992 issue of Employment and Earnings contains a detailed description of the effects of
these revisions. All of the revised historical series are published in a spedal supplement to Employment
and Earnings. This supplement, when combined with the historical bulletin, Employment, Hours, and
Earnings, United States, 1909-90 comprises the full historical series on national data obtained from
the establishment survey.
Page S-11
§Seenote"§"forp. S-10.
| This series is not seasonally adjusted because the seasonal component is small relative to the
trend-cycle and/or irregular components and consequently cannot be separated with sufficient precision.
0 Production and nonsupervisory workers.
Page S-7
Page S-12
1. Computed from cumulative valuation total.
2. Index as Dec. 1,1992: building, 425.5; construction, 471.0.
\ Effective July 1992 SURVEY, data have been revised back to 1987. Effective July 1991 SURVEY,
data were revised back to 1986. Effective July 1990 SURVEY, data were revised back to 1985. Revised
data are available from the Construction Statistics Division at the Bureau of the Census, Washington,
DC 20233.
# Includes data for items not shown separately.
§ Data for Mar., May, Aug., and Nov. 1990, and Jan., May, Aug., and Oct. 1991 are for five weeks;
other months four weeks.
# The fixed-weighted price index is a weighted average of the individual price index series used
to deflate the Value of New Construction Put in Place (VIP) series. In calculating the index, the
weights (the composition of current dollar VIP in 1987 by category of construction) are held constant.
Consequently, the index reflects only changes in prices. The implicit price deflator is a derived ratio of
total current to constant dollar VIP (multiplied by 100). It is the average of the individual price indexes
used in the deflation of VIP, but the prices are weighted by the composition of VIP each period. As a
result, the implicit price deflator reflects not only changes in prices, but also changes in the composition
of VIP, and its use as a measure of price change is discouraged. Effective July 1992 SURVEY, data
have been revised back to 1989.
§§ Effective March 1992 SURVEY, the Construction Contracts Valuation Index has a new base year
of 1987. Data have been revised back to 1983 and are available upon request.
§ See note "§" for p. S-10.
0 Production and nonsupervisory workers.
J Earnings in 1982 dollars reflect changes in purchasing power since 1982 by dividing by Consumer
Price Index.
§§ Wages as of Dec. 1,1992: Common, $19.75; Skilled, $25.83.
f Excludes farm, household, and Federal workers. '
Page S-13
1. Effective Feb. 28,1989, there was a break in the series due to the enlargement of the panel of
reporting dealers to 17 and of reporting direct issuers to 36. End of month figures on the old basis are
as follows: All issuers, 481,734; financial companies, 373,717; dealer placed, 172,330; directly placed,
201,387; and nonfinancial companies, 108,017.
2. Average for Dec.
# Includes data for items not shown separately.
§ Excludes loans and federal funds transactions with domestic commercial banks and includes
valuation reserves (individual loan items are shown gross; i.e., before deduction of valuation reserves).
t Covers 50 States and the District of Columbia. Only regular benefits are included.
@ Average weekly insured unemployment for 12-month period divided by average monthly covered
employment (lagging 4 full quarters for annual figure and 2 full quarters for monthly figure).
S-34 • December 1992
SURVEY OF CURRENT BUSINESS
Page S-14
Page S-21
1. Data are for fiscal years ending Sept. 30 and may include revisions not distributed to the months.
2. Weighted by number of loans.
3. Outstanding loans for mobile homes are included with other credit.
4. Beginning Sept. 1991, the Federal debt series are net of premium and discount.
§ Effective June 1992 SURVEY, data have been revised to reflect new benchmark and seasonal
adjustments and are available from the Banking and Money Market Statistics Section of the Division
of Monetary Affairs at the Federal Reserve Board, Washington, DC 20551.
# Includes data for items not shown separately.
0 Excludes loans to commercial banks in the U.S.
\ Rates on the commercial paper placed for firms whose bond rating is Aa or the equivalent.
ft Courtesy of Metals Week.
1. Previous year's crop. New crop is not reported until Sept. (crop year: Sept. 1-Aug. 31).
2. Crop estimate for the year.
3. Stocks as of June 1.
4. Stocks as of June 1 and represents previous year's crop; new crop .not reported until June
(beginning of new crop year).
5. Stock estimates are available once a year as June 1 stocks and shown here in the May column
and (as previous year's crop) in the annual column.
6. Stocks as of Dec. 1.
§ Excludes pearl barley.
@ Quarterly data represent the 3-month periods Dec.-Feb., Mar.-May, June-Aug., and Sept.-Nov.
Annual data represent Dec.-Nov.
f Coverage for 21 selected States, representing approximately 85 percent of U.S. production.
| Effective June 1992 SURVEY, the consumer installment credit series have been revised back to
1985 to incorporate new information and updated seasonal adjustment factors. These revisions are
available from the Mortgage and Consumer Finance Section, MailStop 93 at the Federal Reserve
Board, Washington, DC 20551.
Page S-15
Page S-22
§ Cases of 30 dozen.
# Series first shown in the Jan. 1991 SURVEY.
Page S-23
1. Money market deposit accounts are included with savings deposits.
it Includes ATS and NOW balances at al! depository institutions, credit union share draft balances,
and demand deposits at thrift institutions.
0 Overnight (and continuing contract) RPs are those issued by commercial banks to the nonbank
public, and overnight Eurodollars are those issued by Caribbean branches of member banks to U.S.
nonbank customers.
1. Crop estimate for the year.
2. Reported annual total; revisions not distributed to the months.
3. Data suppressed because they did not meet Census publication standards.
# Totals include data for items not shown separately.
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.
1. Reported annual total; monthly revisions are not available.
Page S-16
1. Beginning with Jan. 1992 data, the data include the republics of the former USSR, excluding Estonia,
Latvia, and Lithuania.
@ Data may not equal the sum of the geographic regions, or commodity groups and principal
commodities, because the revisions to the totals are not reflected in the component items.
§ Number of issues represents number currently used; the change in number does not affect the
continuity of the series.
t For bonds due or callable in 10 years or more.
# Includes data for items not shown separately.
^ The March through August 1991 issues of the SURVEY showed month-end yields for 1991 rather
than monthly averages.
Page S-17
1. See note "1" for p. S-16.
@ See note "@n for p. S-16.
# Includes data not shown separately.
0 Data include undocumented exports to Canada, which are based on official Canadian import
totals.
Page S-18
1. Reported annual total; quarterly or monthly revisions are not available.
2. For month shown.
# Includes data for items not shown separately.
§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled service.
J The threshold for Class I railroad status is adjusted annually by the Interstate Commerce
Commission to compensate for inflation.
0 Average daily rent per room occupied, not scheduled rates.
## Data represent entries to a national park for recreational use of the park, its services,
conveniences, and/or facilities.
f Before extraordinary and prior period items.
Page S-19
1. Reported annual total; monthly or quarterly revisions are not available.
2. Figure suppressed because it did not meet Census publication standards.
3. Data are partially estimated for first three quarters of 1991 and are not available. Value for 4th
quarter 1991 is based on partially estimated production data.
4. Data withheld to avoid disclosing figures for individual companies.
# Includes data for items not shown separately.
§ Data are reported on the basis of 100 percent content of the specified material unless otherwise
indicated.
0 Data for 1991 are reported quarterly.
Page S-20
1. Reported annual total; monthly or quarterly revisions are not available.
2. Quarterly data are no longer available.
§ Data are not wholly comparable from year to year because of changes in classification.
@ Includes less than 500 electric generation customers not shown separately.
Page S-24
Page S-25
1. Reported annual total; monthly revisions are not available.
2. For month shown.
@ Includes domestic and foreign ores.
§ Source: Metals Week.
Page S-26
1. Reported annual total; monthly revisions are not available.
2. Less than 50 tons.
3. Break in comparability beginning Jan. 1,1991, because of a change in the Metals Week pricing
series for zinc.
4. Monthly data not available for 1990 and 1991.
0 Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap,
t Source for monthly data: American Bureau of Metal Statistics. Source for annual data: Bureau
of Mines.
# Includes data not shown separately.
@@ Price represents North American Mean.
Page S-27
1. Annual total includes revisions not distributed to the months or quarters.
# Includes data for items not shown separately.
§ Includes nonmarketable catalyst coke.
O Includes small amounts of "other hydrocarbons and alcohol new supply (field production)," not
shown separately.
it March, June, September and December are five-week months. All others consist of four weeks.
Page S-28
1. Reported annual total; revisions not allocated to the months.
2. Beginning May 1991, the leaded gasoline price is not statistically valid for publication.
# Includes data for items not shown separately.
Page S-29
1. Reported annual total; revisions not allocated to the months.
0 Source: American Paper Institute. Total U.S. estimated consumption by all newspaper users.
# Compiled by the American Newspaper Publishers Association.
Page S-30
1. Reported annual total; revisions not allocated to the months.
2. Figure suppressed because it did not meet Census publication standards.
3. Data cover five weeks; other months, four weeks.
4. Beginning Jan. 1989, sales of industrial plasters are included with building plasters.
5. Dec. 1,1992 estimate of the 1992 crop.
6. Total for crop years, 1989/1990 and 1990/1991 respectively.
# Includes data for items not shown separately.
0 Cumulative ginnings to the end of month indicated.
§ Bales of 480 Ibs.
SURVEY OF CURRENT BUSINESS
Page S-31
1. Annual total includes revisions not distributed to the months.
2. Weighted average for crop year, Aug. 1-Jul. 31.
3. Spot market average for crop year, Aug. 1-Jul. 31.
4. For five weeks; other months four weeks.
5. No price because the Australian market was shut down for the month of July.
<C> Based on 480-lb. bales, preliminary price reflects sales as of the 15th; revised price reflects
total quantity purchased and dollars paid for the entire month (revised price includes discounts and
premiums).
f The total may include some miscellaneous wool imports.
Page S-32
1. Annual total includes revisions not distributed to the months.
2. Production of new vehicles (thous. of units) for Oct. 1992: passenger cars, 522; trucks and
buses, 412.
3. Data are reported on an annual basis only.
December 1992 ©
S-35
4. Beginning in 1992, data are available only on a quarterly basis.
5. Beginning Jan. 1989, shipments of trailer bodies are included with trailer chassis to avoid
disclosure of data from individual firms.
6. Effective with the Dec. 1991 SURVEY, data have been revised back to 1988 and are available
upon request.
7. Data withheld to avoid disclosing figures for individual companies.
# 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.
0 Courtesy of R.L Polk & Co.; republication prohibited. Because data for some States are not
available, month-to-month comparisons are not strictly valid.
* Effective with the July 1992 SURVEY, seasonally adjusted retail sales for trucks and buses have
been revised back to 1989, and are available upon request.
t Includes some imported trucks over 10,000 Ibs. GVW.
1 Excludes railroad-owned private refrigerator cars and private line cars.
@ Effective with the Mar. 1992 SURVEY, seasonally adjusted retail inventories for trucks and buses
have been revised back to 1977, and are available upon request.
S-36 • December 1992
SURVEY OF CURRENT BUSINESS
INDEX TO CURRENT BUSINESS STATISTICS
Sections
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade
Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communication
.
1-5
5,6
7,8
8,9
9-13
13-16
16-18
18,19
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products;
Leather and products
:
Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
Rubber and rubber products
Stone, clay, and glass products
Textile products
Transportation equipment
tobacco
Footnotes.
19,20
20
20-23
23
23,24
24-27
27,28
28,29
29
30
30-32
32
. 33-35
Individual Series
Advertising
.....................................
8, 12
Aerospace vehicles
.................................
32
Agricultural loans
..................................
13
Air carrier operations
................................
18
Air conditioners (room) .....
..........................
27
Aircraft and parts
...............................
4, 5, 32
Alcohol, denatured and ethyl
...........................
19
Alcoholic beverages
...............................
8, 20
Aluminum
.......................................
25
Apparel
.............................
2, 4-6, 8-12, 31, 32
Asphalt
.........................................
28
Automobiles, etc
...................
2-4, 6, 8, 9, 14, 15, 17, 32
Banking
......................................
13,14
Barley
..........................................
21
Battery shipments
..................................
27
Beef and veal
.....................................
22
Beverages
...................................
8, 17, 20
Blast furnaces, steel mills
............................
3-5
Bonds, issued, prices, sales yields
....................
15, 16
Brass and bronze
..................................
26
Brick
...........................................
30
Building and construction materials
....................
2, 4, 5
Building costs
......................................
7
Building permits
....................................
7
Business incorporation (new), failures
......................
5
Business sales and inventories
........................
2, 3
Butter
...........
...............................
21
Carpets
.........................................
31
Cattle and calves
..................................
22
Cement
.........................................
30
Chain-store sales, firms with 11 or more stores
...............
9
Cheese
.........................................
21
Chemicals
.......................
2-4, 10-12, 15, 17, 19, 20
Cigarettes and cigars
................................
23
Clay products
.................................
2-4, 30
Clothing (see apparel)
Coal
.....................
.
...................
2, 27
Cocoa
..........................................
22
Coffee
..........................................
22
Coke
...........................................
27
Combustion, atmosphere, heating equipment
................
26
Communication
......
...........................
15, 19
Construction:
Contracts
......................................
7
Costs
......
..................................
7
Employment, unemployment, hours, earnings
..........
10-12
Housing starts
..................................
7
New construction put in place
........................
7
Consumer credit
...................................
14
Consumer goods output, index
........................
1,2
,*.- JJJl
n^opplFancTcopper
. 25, 26
21
Com
...........
Cost of living (see Consumer Price Index)
.................
5, 6
Cotton, raw and manufactures
.....................
5, 30, 31
Credit, commercial bank, consumer
......................
14
Crops ........ .
..........................
5, 21-23, 30
Crudeoil
......................................
3,27
Currency in circulation
...............................
15
Dairy products
...................................
Debt, U.S. Government
..............................
Deflator, PCE
......................................
Department stores, sales, inventories
......................
Deposits,bank
.....................
.
...........
Dishwashers and disposers
............................
5, 21
14
1
9
13,15
27
Disposition of personal income
Distilled spirits
Dividend payments
Earnings, weekly and hourly
Eating and drinking places
Eggs and poultry
Electric power
Electrical machinery and equipment
Employee-hours, aggregate, and indexes
Employment and employment cost
Exports (see also individual commodities)
1
20
1,15
12
8,9
5,22
2, 20
2-5,10-12,15, 27
11
10-12
16-18
Failures, industrial and commercial
5
Farm prices
5,6
Fatsandoils
17
Federal Government finance
14
Federal Reserve System
13
Federal Reserve member banks
13
Fertilizers
19
Fish
22
Flooring, hardwood
24
Flour, wheat
22
Fluid power products
26
Food products
2-6, 8,10-12,15,17,20-23
Foreign trade (see also individual commodities)
16-18
Freight cars (equipment)
32
Fruits and vegetables
5
Fuel oil
:... 6,28
Fuels
2, 6,17, 27, 28
Furnaces
27
Furniture
.,
.'.'.'.'
2^6,8-12
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gypsum and products
Hardware stores
Heating equipment
Help-wanted advertising index
Hides and skins
Hogs
Home loan banks, outstanding advances
Home mortgages
Hotels, motor hotels, and economy hotels
Hours, average weekly
Housefurnishings
Household appliances, radios, and television sets
Housing starts and permits
Imports (see also individual commodities)
Income, personal
Income and employment tax receipts
Industrial production indexes:
By market grouping
Installment credit
Instruments and related products
Interest and money rates
Inventories, manufacturers' and trade
Inventory-sales ratios
Iron andsteel
2, 6,20
28
30
19
14
5, 21, 22
9
30
8
26
12
6
22
8
8
18
11
2, 4-6,8, 9
27
7
17,18
1
14
1,' 2
14
2-4,10-12
443,4,8,9
3
2,15,24,25
Laborforce
9,10
Lamb and mutton
22
Lead
26
Leather and products
2,6,10-12, 23
Livestock
5,22
Loans, real estate, agricultural, bank (see also Consumer credit). 8,13
Lubricants
28
Lumber and products
2, 6,10-12, 23, 24
Machine tools
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
5,22
Medical care
6
Metals
2-6,10-12,15, 24-26
Milk
21
Mining
2,10-12
Mobile homes, shipments, installment credit
7,14
Monetary statistics
15
Money and interest rates
14
Money supply
15
Mortgage applications, loans, rates
8,13,14
Motor carriers
18
Motorvehicles
2-4,6, 8, 9,15,17, 32
National parks, visits
18
Newsprint
New York Stock Exchange, selected data
Nonferrous metals
29
16
2, 4,5,15,2.5,26
Oats
Oils and fats
Orders, new and unfilled, manufacturers'
Outlays, U.S. Government
21
17
4, 5
14
Paint and paint materials
20
Paper and products and pulp
2-4,6,10-12,15,28,29
Parity ratio
5
Passenger cars
2-4, 6, 8, 9,15,17,32
Passports issued
18
Personal consumption expenditures
1
Personal income
1
Personal outlays
.1
Petroleum and products
2-4,10-12,15,17,27,28
Pig iron
24
Plastics and resin materials
20
Population
9
Pork
22
Poultry and eggs
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 (see also individual commodities)
6
Profits, corporate
15
Public utilities
1, 2,7,15,16,20
Pulp and pulpwood
28
Purchasing power of the dollar
6
Radio and television
Railroads
Ranges and microwave ovens
Rayon and acetate
Real estate
Receipts, U.S. Government
Refrigerators
Registrations (new vehicles)
Rent (housing)
Retail trade
Rice
Rubber and products (incl. plastics)
Saving, personal
Savings deposits
Savings institutions
Securities issued
Security markets
Services
Sheep and lambs
Shoes and other footwear
Silver
Spindle activity, cotton
Steel and steel manufactures
Stock market customer financing
Stock prices, yields, sales, etc
Stone, clay, glass products
Suaar
Sulfur.
Sulfuric acid
Superphosphate
Synthetic textile products ..
8,27
12,16,18,32
27
31
8,13
14
27
32
6
2,3, 5, 8-12,14,32
21
2-4, 6,10-12,29
1
13
8,14
15
15,16
6,10-12
22
23
14
31
24,25
15
16
2-4,10-12,15,30
23
,
Tea imports
Telephone carriers
Television and radio
Textiles and products
Tin
Tires and inner tubes
Tobacco and manufactures
Tractors
Trade (retail and wholesale)
Transit lines, urban
Transportation
Transportation equipment
Travel
Truck trailers
Trucks
23
19
27
2-4,10-12,15, 30-32
26
29
2-4,10-12,23
27
2,3,5, 8-12,32
18
6,10-12,15,16,18
2-6,10-12,15,17,32
18
32
2,32
Unemployment and insurance
U.S. Government bonds
U.S. Government finance
Utilities
Vacuum cleaners
Variety stores
9,10,13
16
14
2, 6,7,15,16,20
27
s
Wages and salaries
Washers and dryers
Water heaters
Wheat and wheat flour
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc
1,12
27
27
21,22
2,3,5, 8,10-12
28
31
26
.
*U.S.G.P.O.:1993-956-337
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