Full text of Survey of Current Business : February 1953
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FEBRUARY
U. S. DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
OFFICE OF BUSINESS ECONOMICS
1953
SUIIVEY
OF C U H R E M T
BU§INE§§
DEPARTMENT OF COMMERCE
FIELD SERVICE
, N. Mas,
204 S, 10th St,
Memphis 3, Tenn.
229 Federal Bidg.
Atlanta 3, Ga.
86 Forsyth St. NW.
Miami 32, Fla.
36 NE. Firat St.
Baltimore 2, Md,
200 E. Lexington St.
Milwaukee 2, Wis.
207 E. Michigan St,
Boston 9, Mass.
40 Broad St.
Minneapolis 2, Minn.
607 Marquette Ave,
Baffalo S, N. Y.
117 Silicon St.
Mobile 10, Ala.
109-13 St. Joseph St.
.Batte. Mont.
306 Federal Bldff.
New Orleans 12, La.
333 St. Charles AT@.
PAGE
Charleston 4, S. C.
Area 2,
Sergeant Jasper B!dg.
New York 13, N. Y.
346 Broadway
Defense Expansion and Civilian Markets ,
1
Cheyenne, Wye. ,
308 Federal Office Bidg.
Oklahoma City 2, Okla.
114 N. Broadway
National Income and Product in 1952 . . . .
4
Chicago 1, 111.
221 N. LaSafle St,
Omaha, Nebr.
105 Federal Office
Building
No. 2
F E B R U A R Y 195a
a, L^ivitian,
Price Developments i n 1952 . . . . > . . . . . 1 1
Industrial Production . . . . . . . . . . . . 1 2
Cincinnati 2, Ohio
105 W. Fourth St,
Agricultural Production and Income "« . . ,
14
Cleveland 14, Ohio
925 Eoclid ATS,
. . . . . . . . . 16
Dallas 2. Tex.
1114 Commerce Ss*
Domestic Trade .
.....
Domestic Business Investment . . . . . . . 1 8
N e w Construction . . . . ' . . . . . . . . . .
21
International Trade . . . . . . . . . . . . . 2 4
Financing Business Investment . . . . . . . 27
T h e Business Population . . . . . . . . . . 2 9
Employment and Labor Conditions , . , . . 30
*
*•
*
MONTHLY BUSINESS STATISTICS .
Statistical Index
.....
S-l to S-40
. . Inside Back Cover
Published by the U. S. Department of Commerce^ SINCLAIR WEEKS,
Secretary. Office of Business Economics, M. JOSEPH MEEHAN,
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Denver 2, Colo.
142 New Custom
Detroit 26, Mich.
1214 Griawold St,
El Paao, Tex.
Chamber of Commerce
Bldg.
Hartford 1, Conn.
135 High St.
Philadelphia 7, Pa.
1015 Chestnut St.
Phoenix, Ari*.
311 N. Central Are,
Pittsburgh 22, Pa.
717 Liberty AT*.
Portland 4, Oreg.
520 SW. Morrison St.
ProTidence 3, R. I.
327 Post Office Annex
Reno,
1479 Wells Ave.
Richmond, Va.
400 East Main St.
Hoeaton, Tes.
430 Lamar St.
St. Louis 1. Mo.
1114 Market St*
lacksonrille 1, Fla.
311 W. Monroe St.
Salt Lake City 1, Utah
109 W. Second St., So.
Kansas City 6, Mo.
903 McGee St,
San Francisco 2. Calif.
870 Market St.
Lot Angelea 15, Cajif.
112 West 9th St.
Savannah, Ga.
125-29 Ball St.
Louisville 2, Ky.
631 Federal Bldg
Seattle 4, Wash.
123 U. S. Court House
For local telephone listing, consult section
devoted to U. S. Government
an
A REVIEW OF 1952
By the Office of Business Economics
INCREASED PRODUCTION and less
inventory accumulation permitted
substantially larger government
purchases in 1952
Change in REAL product, 1951 to 1952
BILLIONS OF 1951 DOLLARS
-5
0
+5
-10
-no
+15
GROSS NATIONAL
PRODUCT
GOVERNMENT PURCHASES
JLVESUMPTION of a more balanced growth in production , following the sharply divergent movements of the preceding year, highlighted economic developments during 1952.
As the year ended there were few industries not experiencing
production and sales higher than a year earlier, while no
single branch of the economy had dominated the general
advance. Two developments coincided in the late spring to
bring about this alteration in the economic situation.
The first was the cessation of a sharp rate of increase in
defense spending and the stabilization of private expenditures
for defense-supporting plant and equipment. Further increases in Federal defense outlays scheduled for 1953 are not
of the large magnitudes characteristic of the early phases of
the defense program. Thus, at 14 percent of the gross
national product the share of total output absorbed by
national security purchases in 1952 was not far from that
which is expected to be maintained for some time to come.
(FEDERAL, STATE ft LOCAL)
Civilian purchases advancing
PERSONAL CONSUMPTION
EXPENDITURES
It was also in the late spring of 1952 that the downward
trend was reversed in the production of most consumers'
durable goods, clothing, and textiles. These markets had
experienced slack demand since the cessation of the second
post-Korean buying wave more than a year earlier. The
initial renewal of activity in these products resulted primarily
from the liquidation of excessive business inventories which
had been accumulated in early 1951. Consumer buying was
increasing, however, and with the accelerated rise in personal
income these outlays showed pervasive advances during the
last half of the year. Fixed investment of a nondefense
character was also on the upgrade as materials became
more freely available.
The alternation of defense requirements and civilian demand as the major dynamic forces in the economy—as contrasted with the possible situation of greater demand pressures had the greatest expansionary force from both sources
coincided in time—contributed greatly to economic stability
after early 1951. It made possible expansion of total output
without general inflationary tendencies and without important shortages of end products other than specialized
machinery and military equipment.
GROSS PRIVATE FIXED
INVESTMENT
CHANGE IN BUSINESS
INVENTORIES AND NET
FOREIGN INVESTMENT
The trend of defense buying continued
upward, but with a more moderate
rate of increase
100
a:
<
80
o
a
GOVERNMENT PURCHASES
(FEDERAL, STATE & LOCAL)
5 60
a:
a:
•
Influence of labor disputes
fe 40
CO
z
J
NATIONAL SECURITY
PURCHASES
20
D
I960
'
1951
•
1952
QUARTERLY TOTALS, SEASONALLY ADJUSTED,
AT ANNUAL RATES
f. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
238593°—53
1
53-20
Work stoppages resulting from labor disputes influenced
the course of total production to an unusual extent in 1952
and caused recorded data to depart from the underlying
trends.
The major stoppage of the year occurred in June and July
in basic steel, at a time when the amount of steel flowing
through the economy was a limiting factor on production in
much of the steel-using sector of industry. Loss of produc1
SURVEY OF CURRENT BUSINESS
tion in the steel-processing industries was greatest in the
third quarter.
Fourth-quarter spurt in product
Full production in the durable goods industries in the final
quarter of the year, coupled with the continued advance of
nondurable goods and services, brought a 5-percent jump
from the third quarter in the value of the gross national
k#:^^
BILLIONS OF DOLLARS
360
The rise in
TOTAL NATIONAL
PRODUCT and
INCOME during
1952 was most
pronounced in the
fourth quarter
34O
X.
> GROSS NATIONAL
PRODUCT
320
300
280
OUTPUT of NONDURABLE GOODS
and SERVICES
showed a steady
uptrend ....
Most of the 6 percent rise from December 1951 to December 1952 in average hourly earnings in manufacturing took
place in the latter part of the year; this pattern was characteristic of the nonmanufacturing industries as well. The
longer workweek, the resumption of important increases in
hourly earnings, and a significant increase in employment
combined to create an upsurge in the Nation's payroll in
the closing months of the year. Total wage and salary
disbursements reached a seasonally adjusted annual rate of
$189 billion in December, as compared with $176 billion a
year earlier and $177^ billion in the first half of 1952.
Despite the rise in wage rates, a basic cost element, at a
time when the strength of demand was requiring full resource
utilization, the stability of nonagricultural prices was maintained. In December, the consumers' price index stooc
less than 1 percent above, and the index of wholesale prices
of commodities other than farm products and foods \% percent below, December 1951; neither index differed appreciably from its mid-year level.
1951
1952
QUARTERLY TOTALS, SEASONALLY ADJUSTED,
AT ANNUAL RATES
INDEX, 1951 =
STEEL INGOT
PRODUCTION
Weaker areas in the economy
MOTOR VEHICLE
FACTORY SALES
1951
1952
U. S. DEPARTMENT OF COMMERCE:, OFFICE OF BUSINESS ECONOMICS
product. An important part of this enlarged output was
used to bring strike-depleted inventories in the durable goods,
and especially the motor vehicle, sectors of manufacturing
and trade to a level more commensurate with high-volume
operations. In addition to this special stimulus, however,
the unusual size of the increase reflected an advance in
output which, in the absence of the steel stoppage, would
have been achieved by more even increments throughout the
year.
Evidence of acceleration in the growth of demand toward
the end of the year beyond what could be explained by distortions resulting from the steel labor dispute was not conclusive. Consumer spending and retail sales during the
Christmas buying period were, to be sure, striking. However, the fourth-quarter advance in consumer expenditures
was based upon the sharpened rise of personal income,
deriving in large measure from the lift to durable goods
production, rather than from an independent increase of
significant amount in the relationship of spending to income.
Moreover, sales of automobiles, which had been short in
the previous quarter, were largely responsible for the exceptional size of the buying advance.
Another indication of the underlying trend was the smooth
rise in the value of production of nondurable goods and
services, depicted in the chart. Still another was the fact
that new orders received by manufacturers of durable goods
and nondurable goods in the fourth quarter were each only
moderately above the average for the year as a whole.
At the production rates of the fourth quarter, the Nation's
labor and capital resources were being utilized at an exceptionally high rate. The tightness of the labor market is
indicated by the facts that unemployment was lower and
average hours of work in manufacturing higher than in any
other quarter of the postwar period.
Wage and price movements
but expansion
of DURABLE
GOODS and
CONSTRUCTION
OUTPUT was
checked in the
middle quarters
of the year by
the steel strike..,
which especially
affected the
pattern of STEEL
and MOTOR
VEHICLE PRODUCTION
February 1953
53-19
One factor underlying the continued stability of thes<
indexes despite rising wage rates was the decline in impor
prices and, particularly in the last 4 months of the year
domestic farm prices for the principal agricultural rav
materials, food crops, and meat animals. In December
prices received by farmers stood 12 percent below Decembe
1951 and 9 percent below July 1952. The parity ratio, a
96, was back to the level of the spring of 1950. Governmen
price support operations were resumed on a substantia
scale.
SURVEY OF CURRENT BUSINESS
February 1953
Not only high domestic agricultural production and marketings but also smaller exports of agricultural commodities
contributed to the decline in farm prices. Exports of
nonagricultural commodities were also down. Thus agriculture and foreign trade were two areas showing trends
diverging from those in the economy as a whole.
Comparison of 1952 with 1951
Almost all of the growth from 1951 to 1952 in the average
size of the labor force was absorbed, for the second successive
year, by the Armed Forces. According to Census Bureau
data, an increase of 537,000 in civilian nonagricultural
employment was achieved with an increase of only 82,000 in
Most prices were fairly stable during
1952, but farm prices receded
INDEX, DEC. 1949 = 100
140
PRICES RECEIVED
BY FARMERS
130 -
WHOLESALE PRICES,
COMMODITIES OTHER
THAN FARM & FOODS
120 —
ONSUMERS PRICES,
ALL ITEMS
90 I I I I M I I I I I I I I I I I I I I I I I I I ! M I I I M I I I
I960
1951
1952
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
53-18
the civilian labor force by reductions of 249,000 in agricultural employment and 206,000 in the number of unemployed.
Gross national product was about 5 percent higher in
dollars, and about 2% percent higher in real (constant dollar)
terms in 1952 than in 1951. The disposition of this additional
real product is shown in the chart on page 1. With Government employment, inclusive of the armed forces, substantially higher, the real output of the private economy was
up less—about 2 percent, according to preliminary data.
Private man-hours worked were slightly lower in 1952 than
in 1951, and real private product per man-hour increased
around 2% percent. Higher agricultural production contributed disproportionately to the increase in total output
and, in view of the drop in farm employment, especially to
the gain in output per man-hour.
Elimination of controls
On February 2, 1953, President Eisenhower, in his State
of the Union message, informed Congress that he would not
ask for extension of wage and price control authority beyond
April 30, and that in the meantime steps would be taken to
eliminate existing controls in an orderly manner. He
also stated that material and product controls, for which
present legislation expires June 30, should be ended except
with respect to defense priorities and scarce and critical
items essential for defense. The President recommended
continuance beyond June 30 of authority for Federal control
over rents in those communities in which serious housing
shortages exist. The message was followed quickly by
elimination of all wage and salary controls and major relaxations in the fields of prices and production.
The President's statement of general policy had been
preceded during 1952 by a continuing stream of Federal
orders removing or relaxing particular emergency controls.
Aside from the field of credit, however, the controls framework had remained and controls continued to operate in
major areas.
Price controls were removed from a large number of
products during 1952. Although in December ceiling prices
were still in effect for items with 55 percent of the weighted
value of all items in the consumers7 price index and 70 percent in the wholesale price index, actual prices of a wide
range of commodities were well below ceiling. Federal,
State, or local rent controls continued on almost 9 million of
the 20 million rental units in the country, with actual and
ceiling prices generally coinciding.
Wage and salary controls had remained in general effect
throughout 1952. In the last half of the year rather substantial wage increases and fringe adjustments had been approved, however, and the rise in average hourly earnings was
resumed.
Only the permanent credit powers of the Federal Reserve
Board had remained in force after the discontinuance of the
voluntary credit control program and the regulations covering installment and real estate credit. Greater use of the
more traditional methods of credit control had been made
possible by removal in 1951 of the "peg" on U. S. Government securities. In the latter part of 1952 commercial banks
found necessary considerably greater borrowing from the
Federal Reserve System in order to obtain additional reserves. Since such borrowing is normally considered temporary in nature, this situation tended to exert some restraint
on credit expansion. Relative stringency in the availability
of short-term funds resulted in a continued moderate rise in
short-term interest rates; in January 1953 the Federal
Reserve banks raised the rediscount rate from 1% to 2
percent.
Most of the individual materials and products originally
under production, distribution, and inventory controls had
been freed during 1952, and orders prohibiting or limiting
uses of other materials had been removed or relaxed. The
Controlled Materials Plan for steel, aluminum, and copper
remained in operation, although it had been liberalized in
important aspects.
Business prospects
The present year has opened with the business momentum
deriving from high production and income unabated. Productive capacity continues to increase and the armed forces
are no longer absorbing the annual growth of the labor force.
As to future trends, an analysis covering the next three
years has just been completed and published under the title
Markets after the Defense Expansion. In this report the
available facts were brought together and an appraisal given
of the future business prospect. As stated there, "It is hoped
that they will aid the businessman to reach his decisions
and conduct his operations in the light of such general economic facts as can be known."
SUKVEY OF CUKKENT BUSINESS
February 1953
National Income and Product in 1952
L HE Nation's output and income moved forward in 1952
in a setting of general stability.
The market value of the total output, as measured by gross
national product, was $346 billion, as compared with $329
billion in 1951. National income, which measures output in
terms of the total income earned in production, advanced
from $277K billion in 1951 to $290^ billion in 1952. Half of
the 5 percent rise in dollar value of output represented expansion in physical volume, the remainder reflecting the further
price increase.
Personal income—the sum of income receipts from all
sources—amounted to $268^ billion, 5% percent more than in
1951. Because of the rise in personal taxes, the advance in
disposable personal income was somewhat less, about 4
percent. This advance matched the relative increases in
consumer prices and population, so that real disposable income per capita—despite the heavier tax burden occasioned
by the defense program—was as high in 1952 as in the
previous year.
Last year's record physical volume of output was significantly higher than during the war and, as compared with
1929, was twice as large in total and more than 50 percent
greater on a per capita basis. The 2y2 percent increase over
1951, however, was not so large as the advance of 8 percent
which had occurred in the previous year—the first full year
of the impact of enlarged security expenditures.
the economy cannot be disentangled, the impact is evident
from component analysis of the national income accounts.
These clearly mirror the retarded sales of hard goods throughout the economy in the third quarter and their sharp rebound
in the final quarter, together with a substantial volume of
inventory replenishment.
Changes in business inventories have
dominated the short-term movement
of total gross private domestic
investment since Korea
BILLIONS OF DOLLARS
7S
GROSS PRIVATE DOMESTIC
INVESTMENT
50
Markets more balanced
With the effects of the scare-buying which had followed the
outbreak of hostilities in Korea largely dissipated, the market
in 1952 achieved a more balanced position. National defense outlays continued to play a major role but, with the
completion of the initial developmental stage of this vast
program, the advance last year was at a more gradual pace
than in 1951. The unusually high rates of business inventory
accumulation which had added materially to the inflationary
pressures of 1950 and early 1951 were substantially reduced
as businessmen succeeded in bringing their stocks back into
line with current sales.
The improved relationship between supply and demand in
1952 was evident not only from national income and product
measures but in two other general ways as well. One was the
comparative stability of overall prices, which fluctuated
within narrow limits throughout the year. The composite of
gross national product prices rose 2J4 percent from 1951 to
1952, as compared with 7 percent from 1950 to 1951. The
second evidence in this regard was the improvement of
balance permitting the general relaxation of economic
controls.
Second-half output movement uneven
As discussed in the introductory section of this issue, the
course of total production within 1952 was markedly affected
by work stoppages, notably in the steel industry. This is
manifested most clearly in the lack of movement of gross
national product from the second to third quarters and the
upsurge in the fourth. While the effects of the steel strike on
PRODUCERS' DURABLE
EQUIPMENT^
^^.^....JV
•••••••••••..,••••••• —
NEW CONSTRUCTION
^CHANGE IN BUSINESS
,/ INVENTORIES
*s
^*
3
1950
'
3
1951
1952
Beyond this, however, such analysis reveals the sustained
growth in many sectors in the latter half of the year, with
pick-ups apparent in a number of the consumer durables and
nondurables which had been lagging.
Government Demand
Purchases of goods and services by Federal, State, and
local governments rose from $63 billion in 1951 to $78
billion in 1952—primarily under the continuing impetus of
national security expenditures. At $49 billion, these represented 14 percent of the gross national product in 1952,
as compared with the annual rate of $17 billion—or 6
percent of the national product—in the second quarter
February 1953
SURVEY OF CURRENT BUSINESS
of 1950, immediately preceding the outbreak of the Korean
conflict.
^Advance in security outlays smaller
Although national security outlays (broadly defined to
include stockpiling, atomic energy, and Mutual Defense
Assistance in addition to the strictly military programs)
were about $12 billion higher in 1952 than in the preceding
year, the quarterly rate of increase within the period was
considerably smaller than that experienced in the first year
and a half of the defense build-up. The change in tempo
reflected, in part, the comparative stabilization of the current
operating expenses of the Defense Department, which have
been running at about a $26 billion annual rate.
About one-half of this total is directly related to the
number of military personnel and consequently has tended
to level out as the Armed Forces approached their manpower
goals of 3.7 million. The other half of current expenses
includes the operation, repair, and maintenance of military
equipment and facilities and general administrative and
research costs. In the aggregate, these also have stabilized
over the past year in line with the current level of military
operations.
Mpst of the 1951-52 expansion in national defense expenditures, accordingly, was concentrated in hard goods—
planes, tanks, vehicles, and other military equipment—and
in military construction. In this important sector, too, the
Office of Defense Mobilization reports that a large and
increasing number of items have reached their sustaining
rates. Important to note, however, is that some of the
major procurement programs are still expanding and that
further advances in total defense expenditures, though
fnoderate in scale, are expected in 1953.
Other Government expenditures rise
Nondef ense purchases of goods and services by the Federal
Government in 1952 amounted to about $5^ billion, $1%
billion higher than in the previous year. This increase
largely reflected higher outlays of the Commodity Credit
Corporation for the farm price support program. The
Corporation added substantially to its stocks of price support commodities in 1952, in contrast to heavy sales out of
inventory in the preceding year. An additional factor
contributing to the rise in nondefense expenditures was the
1951 statutory raise in Federal pay, which applied to the
latter half of that year but to all of 1952.
State and local government expenditures continued the
steady rise in progress since the end of World War II,
advancing in 1952 by $!}£ billion to a total of $23^ billion.
Employee compensation, reflecting primarily the fairly
general pattern of increase in wage scales last year, accounted
for more than half of the advance in total purchases of goods
and services. Capital outlays for construction of schools
and highways also contributed signficantly to the further
expansion. Appreciably greater rises in both of these
categories of construction are projected for 1953.
Investment Demand
Gross private domestic investment declined from $58K
"billion in 1951 to $52 billion in 1952 because of a $7 billion
drop in the rate of business inventory acumulation. Fixed
investment in new construction and producers' durable
equipment, which comprises the bulk of total investment,
registered a moderate increase over 1951. The sustained
high rate of fixed capital investment has been one of the
noteworthy achievements of this period, contributing substantially to the stability of the economy. As the accom-
panying chart indicates, fluctuations in total private domestic investment in the last two and a half years have been
largely determined by the business inventory component.
Housing outlays firm
At $11 billion, outlays for private nonfarna residential
construction last year were the same as in 1951, the second
highest year on record. Despite this similarity, the two
years displayed different tendencies. Largely because of
mortgage credit controls designed to free resources for defense production, residential outlays drifted downward in
1951 from the $13^ billion peak rate of the second half of
1950. In 1952, however, after a first quarter pickup they
were essentially stable, though advancing about $% billion at
annual rates in the final quarter.
Partly reflecting the complete suspension of the emergency
home mortgage credit controls in September, fourth quarter
Table 1.—Gross National Product* or Expenditure in
Constant Dollars 1946-52 *
[Billions of 1939 dollars]
Item
Gross National Product
Personal consumption expenditures
Durable goods. _ _
__
Nondurable goods
Services
Gross private domestic investment
.
New construction
Producers' durable equipment
Change in business inventories
Net foreign investment
Government purchases of goods
and services
Federal
State and local.
1946
1947
1948
1949
1950
1951
138.4
138.6
143.5
144.0
154.8
167.3
171.3
1952
95.7
10.4
50.2
35 2
98.3
12.3
49.5
36 4
100.3
12.6
49.7
38 0
103.2
12.9
50.7
39 6
108.5
15.4
51.6
41 5
108.4
13.3
52.4
42 6
110.5
12.5
54.6
43 3
20.3
60
19.3
22.7
18.0
7.9
25.8
9 8
28.0
9.2
24.1
90
99
11.8
6.9
8.0
12.6
11.4
13.1
13.6
13.6
4.4
.6
2.1
-1.3
2.8
5.1
1.5
2.7
4.8
1.4
.6
.0
2.0
1.6
19.6
12.8
16.1
19.2
10.9
22.2
12.9
20.6
10.9
9.7
28.9
18.9
10.1
35.1
24.6
10.5
133.7
133.7
144.3
154.0
157.1
9.7
10.3
10.5
13.3
14.3
6.8
Gross private product 3 -_-
125.6
Gross government product 3__
12.8
8.5
7.6
128.8
9.8
8.2
9.3
1. Data for earlier years are contained in July 1952 SURVEY OF CURRENT BUSINESS. Detail
will not necessarily add to totals because of rounding.
2. Gross national product less compensation of general government employees.
3. Compensation of general government employees.
Source: U. S. Department of Commerce, Office of Business Economics.
housing starts, after adjustment for seasonal variation, were
almost 10 percent higher than in the third quarter. This
gain suggests that last year's high rate of residential construction has carried over into 1953.
Business fixed investment continues high
Total expenditures for producers' durable equipment and
nonresidential construction in 1952 amounted to $38 billion—
about $K billion higher than in 1951. After allowance for the
moderate rise in capital goods prices, the physical volume of
new plant and equipment acquisitions was about the same in
the two years.
The industrial composition of fixed capital outlays, however, was somewhat altered in 1952. Further advances in
manufacturing, about equally divided between the durable
and the nondurable industry groups, and in public utilities
and communications were partially offset by moderate though
widespread declines in other sectors.
Capital expenditures showed an appreciable upturn in the
fourth quarter. This represented, in part, a recovery of
ground lost in the preceding quarter as a consequence of the
6
SUEVEY OF CUEKENT BUSINESS
interrupted flow of steel. Although the defense-related
industries were important in this advance, the pickup in
nondefense industries was noteworthy.
Inventory balance restored
Inventory-wise, the year 1952 may be conveniently subdivided. During the first half year there was a continued
scaling down of business inventory investment from the
extraordinarily high rates reached in late 1950 and early
1951. The latter build-up, it will be recalled, stemmed from
two principal factors. One was the necessity in the defense
and defense-related industries of bringing stocks into line
with the sharp advance in their output. The other was the
substantial anticipatory buying that accompanied the earlier
phases of the defense build-up.
Thereafter, with the changed supply outlook, businesses
took measures to adjust their inventory positions, bringing
the net accumulation of stocks virtually to a halt by mid1952. Substantial liquidations occurred during this period
in some industries, notably retail trade.
During the second half of 1952 there was a moderate resumption in inventory accumulation in the predominant
nonfarm sector. Approximately three-fourths of this accumulation occurred in wholesale and retail trade as dealers
generally halted the further downward adjustment of stocks
and resumed buying on a scale commensurate with current
needs.
In the manufacturing sector, there was a sizable increase
in nondurable stocks—concentrated in the third quarter—
associated with the upturn in activity in apparel, textiles,
and other soft goods lines.
In the durables component of manufacturing, the impact
of the steel strike appears to have manifested itself not so
much as an absolute decline—though small net liquidations
for the durables group as a whole did occur in both the second
and third quarters—but rather in the form of a departure
from the projected pattern of moderate growth suggested by
the experience of the past several quarters.
This hypothesis finds support in the fourth-quarter spurt
which appears to have restored the strike-upset inventory
balance in durable goods manufacturing. The accumulation
was especially strong in motor vehicles, where it accompanied
the resurgence of production in that industry. It may be
noted parenthetically that the restocking of auto dealers
following the forced inventory draft in the third quarter was
the strongest element in the fourth-quarter advance in retail
trade.
February 1953
total but, with the decline that occurred in average import
prices, showed a small increase in real volume.
Despite the picture of little change recorded in the annual
totals, there have been significant short-term fluctuations!
in the international account during the past two years.
These are discussed in another section of this issue.
Consumer Demand
Personal consumption expenditures aggregated $216 billion
in 1952, $8 billion more than in the previous year. After
allowance for price changes, about one half of this rise
represented an enlarged flow of goods and services to consumers. By contrast, the $14 billion expansion in consumer
spending from 1950 to 1951 was entirely accounted for by
higher prices, with real volume unchanged.
Consumer spending in 1952 amounted to 92 percent of
disposable income, about the same as in the preceding year.
The rate of personal saving, at roughly 8 percent, thus
continued relatively high—double the average for the period
1947-49.
Pattern of spending in 1952
Following a moderate increase in the first quarter of 1952,
consumer spending in the aggregate tended to level out in
the ensuing six months but ended the year with a brisk
upturn.
This general movement was much affected by fluctuations
in automotive outlays, attributable mainly to changes in the
steel supply. Expenditures in the automotive group dropped
Payroll Increases
in 1952 were smaller and, in the private sector,
more uniform than in 1951
PERCENT INCREASE
30 —
Net foreign investment unchanged
Net foreign investment in 1952, as in 1951, was minimal,
reflecting continued approximate balance in the international receipts and payments of the United States on current
account, despite fluctuations within the period. While
there was a net export surplus of about $5 billion on trade,
service, and investment income transactions in each of the
years, it represented, in the main, goods and services financed
by net United States Government grants and (to a minor
extent) private remittances. The value of exports corresponding to these items is included in gross national product
as part of Government purchases and personal consumption
expenditures, respectively, rather than as a component of
net foreign investment.
As contrasted with the sharp upward movement of the
preceding period, the overall volume of foreign trade was little
changed from 1951 to 1952. Both in dollar value and real
volume, commodity exports last year matched the high rates
of 1951. Commodity imports were off moderately in dollar
ALL
INDUSTRIES
GOVERN- COMMODITY- DISTRIBMENT
PRODUCING
UTIVE
SERVICE
S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
by $2y2 billion, at an annual rate, in the third quarter and
showed a rise of similar magnitude in the fourth. Apart
from this group, which comprises only 5 percent of the total,
consumer expenditures during 1952 exhibited the general
pattern of gradual rise in evidence since the spring of 1951.
In dollar terms, fourth-quarter 1952 personal consumption
was 5 percent above the same period a year ago. In real
February 1953
SURVEY OF CURRENT BUSINESS
terms, it matched the record volume of purchases in the
scare-buying splurge of the third quarter of 1950.
one-fifth to one-fourth for the two-year period. The three
exceptions are agriculture, mining, and services, which showed
below-average increases of 12-13 percent.
Further rise in nondurables and services
Consumer expenditures for nondurable goods and services,
which combined account for over half of the gross national
product, showed continued moderate growth in 1952. This
pattern characterized not only the aggregates, but major
component categories as well. The principal exception to
the pattern was furnished by the clothing group, where
consumer outlays rose only fractionally on an annual basis
but showed a marked pickup at the close of last year.
Durable goods outlays firm
Although consumer expenditures for durable goods last
year were almost $1% billion below the 1951 total of $27
billion, the movement within the year was not downward.
Outlays for durable goods other than automobiles did not
deviate far from a $15% billion annual rate in any quarter of
1952, thus continuing the relative stability that has marked
this buying since the spring of 1951. Some downdrift in the
first half and upward tendency in the second half were
evident, however.
In the automotive group, a decline that had continued
unabated since the last quarter of 1950 was halted in the first
quarter of 1952. The subsequent quarterly movement was
irregular, first because of the increase in steel allotments and
production quotas and then because of steel shortages. It
is noteworthy, however, that consumer automotive outlays
in the fourth quarter of last year were at the high annual rate
of $11 billion, well above the 1951 and 1952 annual totals
and $1^ billion higher than the 1951 quarterly low point.
A number of factors, aside from the rising income flow,
aided the consumer durables market in 1952. It would
appear that the effects of accelerated purchases made after
the Korean outbreak are being worked off, and that buyers
have been reentering the market for hard goods. Also, price
cuts in many lines of durables have provided some stimulus
to sales. The improved supply situation, apart from the
steel strike, provided a basis for greater output of items
subject to production controls. The suspension of consumer
credit controls in May greatly accelerated the expansion of
consumer credit—a large portion of which was directly
associated with the upturn in automobile purchases. Finally,
the high level of housing construction has been a mainstay
in the closely associated demand for furniture and household
equipment of all kinds.
National Income by Industries
Changes in national income by industry from 1951 to 1952
showed a wide variation from the overall rise of 5 percent.
They ranged from advances of 12 percent in Government and
10 percent in communications and public utilities to moderate
declines in mining and agriculture.
Irregularity—although to a lesser degree—also characterized the industrial movements of national income from 1950
to 1951. However, in the private sector of the economy
variations in the two periods were partly offsetting so that
the net shifts over the 1950-52 span were less uneven.
As may be expected in a mobilization period, the government sector—which consists of the compensation of its
civilian and military personnel—showed the largest percentage rise from 1950 to 1952, although the increase last year
was less than half the rate in the preceding year.
In the private sector, all but three of the major industry
divisions shown in table 2 registered advances of roughly
Government rise tapers
Since 1950, the Government advance has been determined
primarily by the rate of growth of the Armed Forces, which
had accomplished the largest part of their scheduled build-up
by the end of 1951. The advance from 1950 to 1951 was
reenforced by a sizable increase in civilian personnel as well,
mainly to staff the defense and economic stabilization agencies. The rate of growth in Federal civilian employment,
however, tapered sharply in the 1951-52 period. State and
local government, in contrast, maintained a moderate increase
in both years.
Table 2.—National Income by Major Industrial Divisions, 1950—52 *
Billions of dollars
Item
Absolute
change,
1951-52
Percentage
change,
1951-52
1950
1951
1952
239.2
277.6
290.4
12.8
4.7
17.4
5.0
12.4
20.0
5.8
14.5
19.8
5.6
15.5
-.2
1.0
— 1.1
-4.1
6.7
74.5
42.8
20.5
88.9
47.9
22.4
89.9
51.4
24.1
1.0
3.5
1.7
1.2
7.5
7.5
Transportation _
Communications and public utilities
Services _ _ _ _
13.2
7.2
22.3
14.8
8.1
24.4
15.5
8.9
25.2
.7
.8
.8
4.6
10.3
3.2
Government and government enterprises
Rest of the world
23.4
.5
30.1
.7
33.9
.7
3.8
12.5
6.4
AH industries, total
Agriculture, forestry, and fisheries— __
Mining
Contract construction
Manufacturing
_ _
Wholesale and retail trade _ _ _
Finance, insurance, and real estate __
._
__
1. Detail will not necessarily add to totals because of rounding.
Source: U. S. Department of Commerce, Office of Business Economics.
Unlike developments in most other major industrial divisions, the bulk of the large advance in manufacturing in the
2-year period since 1950 was accomplished in the first year—
accompanying the rapid acceleration of defense outlays.
That income in manufacturing moved up only fractionally in
1952 was in large measure attributable to the sharp decline
in the rate of inventory accumulation—not only in manufacturing itself but in other industries as well, since it produces the bulk of inventory goods held in the economy. As
a result of the reduction in inventory investment, discussed
earlier in the review, a larger proportion of total manufacturing output could be diverted to the rising volume of final
demand.
Continued expansion in trade
With the continued growth of consumer spending in 1952,
wholesale and retail trade exhibited a proportionate rise exceeding the all-industry total. As a consequence of this and
the above-average expansion of manufacturing in 1951, the
share of national income earned last year in each of these
industry groups—which together make up one-half of the
national income total—was about the same as in 1950.
Only two major divisions displayed similar rates of growth
in 1952 and 1951. These were communications and public
utilities and the finance group—both of whicb continued
their steady postwar uptrends.
The 1952 decline in agriculture was due to lower farm
prices, together with a further rise in production costs; physical production was markedly higher. The decline in prices
SURVEY OF CURRENT BUSINESS
8
February 1953
Table 3.—National Income and Product 1950, 1951, and 1952 *
[Billions of dollars]
Quarterly, 1952
Item
1950
1951
Seasonally adjusted at annual rates
Unadjusted
1952
I
II
i
III
IV
I
II
III
IV
NATIONAL INCOME BY DISTRIBUTIVE SHARES
National income
Compensation of employees
_
Wages and salaries
Private
Military
Government civilian
Supplements to wages and salaries
-
239.2
277.6
2290.4
70.6
71.3
72.3
276.1
288.0
285.6
287.7
2300.2
- -
153.4
145.6
123.4
5.0
17.2
7.8
178.9
169.9
141.2
8.6
20.1
9.0
190.4
181.1
148.7
46.6
44.3
36.1
2.6
5.6
2.4
47.7
45.4
37.6
50.1
47.9
39.5
2.2
186.9
177.8
145.6
10.2
21.9
9.2
197.9
188.2
155.3
2.3
186.5
177.4
145.8
10.0
21.7
9.0
190. 3
181.0
143. 3
89.2
45.9
43.5
35.5
2.5
5.5
2.4
9.3
9.6
45.2
23.7
13.3
8.2
50.6
26.2
15.6
8.9
52.5
27.6
15.2
9.6
13.0
6.8
3.8
2.3
13.0
6.9
3.7
2.4
13.1
6.9
3.8
2.4
13.4
7.0
3.9
2.5
52.1
27.3
15.4
9.4
51.9
27.6
14.8
9.5
52.5
27.5
15.2
9.8
53.6
28.2
15.5
10.0
34.8
39.6
18.4
21.2
-4.8
41.6
42.9
24.2
18.7
-1.3
240.5
239.7
222.6
.8
10.0
10.0
5.7
4.3
.0
10.0
9.6
5.5
4.1
.4
9.7
9.5
5.4
4.1
.1
210.8
210.5
26.0
24.5
.3
42.7
42.7
24.3
18.4
—.1
39.9
38.2
21.8
16.4
1.7
37.8
37.2
21.2
16.0
.6
241.5
240.3
223.0
217.3
1.2
5.8
20.9
6.4
27.4
7.0
30.7
1.7
7.6
1.7
7.7
1.8
7.4
1.8
8.0
6.7
30.0
6.9
30.5
7.1
31.1
7.2
31.3
284.2
329.2
346.3
83.4
83.3
85.2
94.4
339.7
342.6
343.0
360.1
53.2
6.4
29.1
17.8
52.8
6.0
29.0
17.8
59.7
7.9
33.6
18.2
213.2
25.2
118.0
70.0
214.9
26.4
117.8
70.8
215.0
24.2
118.9
71.9
222.0
27.3
121.4
73.3
57.3
23.7
11.6
12.0
25. P
_ _ _
___
Proprietors' and rental income *
Business and professional
Farm
Rental income of persons
-
Corporate profits and inventory valuation adjustment
Corporate profits before tax
Corporate profits tax liability
Corporate profits after tax
Inventory valuation adjustment -
- -_ -
- --
Net interest
Addendum* Compensation of general government employees--
217.1
GROSS NATIONAL PRODUCT OR EXPENDITURE
Gross national product
_
Personal consumption expenditures
Durable goods
Nondurable goods
Services
_
-
Gross private domestic investment
New construction
Residential nonfarm
Other
Producers' durable equipment
Change in business inventories, total
Nonfarm onlv
--
194. 3
29.2
102.8
62.4
208.0
27.1
113.5
67.3
216.3
25.8
119.0
71.5
50.5
5.5
27.4
17.7
50.3
22.9
12.6
10.3
22.0
5.5
4.6
58.5
23.3
11.0
12.3
24.9
10.3
9.4
52.1
23.5
11.1
12.4
25.5
3. 1
2.4
14.1
5.0
2.2
2.8
6.4
2.7
2.5
10.2
5.9
2.8
3.1
6.6
-2.3
-2.5
13.4
6.5
3.1
3.4
5.9
.9
.8
14.4
6.1
3.0
3.1
6.6
1.7
1.5
50.0
23.7
11.0
12.7
25.7
.6
—.1
49.3
23.6
11.0
12.6
25.7
.1
-.8
51.7
23.0
10.9
12.2
25.0
3.7
3.0
-2.3
.2
.2
.5
.1
-.5
.1
2.2
.4
-1.6
.2
41.9
22.2
18.5
14.2
4.3
3.9
.2
19.7
62.6
40.9
37.1
33.7
3.4
4.2
.4
21.7
77.8
54.4
49.2
46.6
2.6
5.6
.4
23.4
18.2
12.8
11.6
11.0
.6
1.3
.1
5.4
19.7
13.7
12.6
11.8
.8
1.3
.1
6.0
19.6
13.7
12.4
11.7
.7
1.4
.1
5.9
20.3
14.2
12.6
12.1
.5
1.6
.1
6.1
74.4
51.2
46.4
44.0
2.4
5.2
.4
23.2
78.0
54.9
50.3
47.2
3.0
5.1
.4
23.0
77.9
54.8
49.6
46.8
2.8
5.6
.4
23.1
80.6
56.6
50.4
48.4
2.0
6.5
.3
24.0
226.3
254.1
268.3
64.4
65.9
67.1
70.9
263.0
264.4
268.9
277.0
20.8
18.1
2.7
205.5
194.3
11.2
29.1
26.1
3.0
225.0
208.0
17.0
34.0
30.7
3.3
234.3
216.3
18.0
12.0
11.0
1.0
52.4
50.5
1.9
7.2
6.3
.8
58.8
53.2
5.5
8.0
7.2
.8
59.1
52.8
6.3
6.9
6.2
.7
64.0
59.7
4.3
33.5
30.4
3.2
229.5
213.2
16.3
33.6
30.4
3.2
230. 8
214.9
15.9
34.1
30.8
3.3
234. 8
215.0
19.8
34.6
31.3
3.3
242.5
222.0
20.5
284.2
329.2
346.3
83.4
83.3
85.2
94.4
339.7
342.6
343.0
360.1
21.5
23.8
.8
-.7
.4
24.6
25.3
.9
1.4
.5
28.1
27.2
.9
-.1
.1
6.7
6.4
.2
—.4
.1
6.9
6.7
.2
-1.8
.0
7.1
6.9
.2
-1.3
.0
7.4
7.2
.2
3.5
.0
26.7
26.3
.9
-1.6
.5
27.7
26.8
.9
1.8
.2
28.3
27.3
.9
-1.3
-.2
29.6
28.2
.9
1.1
.0
__
239.2
277.6
2290.4
70.6
71.3
72.3
276.1
288.0
285.6
287.7
2300.2
_
34.8
6.9
.0
41.6
8.2
.0
240.5
8.5
-.1
10.0
2.5
.0
10.0
2.2
.0
9.7
2.1
-.1
210.8
1.8
.0
42.7
8.5
.1
39.9
8.4
.0
37.8
8.6
-.4
241.5
8.8
.0
14.3
4.7
9.0
.8
11.5
4.9
9.0
.9
11.9
5.0
9.1
.9
2.9
1.1
2.1
.2
2.9
1.5
2.2
.2
3.0
1.1
2.1
.2
3.0
1.4
2.7
.2
11.7
5.0
8.9
.9
11.6
5.0
9.6
.9
12.0
5.0
9.3
.9
12.2
5.0
9.0
.9
226.3
254.1
268.3
64.4
65.9
67.1
70.9
263.0
264.4
268.9
277. d
-
- _-
--
- - __
--
- -
Net foreign investment
Government purchases of goods and services
Federal
- -National security
National defense
Other national security
Other
Less' Government sales
State and local
-
-
?*
DISPOSITION OF PERSONAL INCOME
Less* Personal tax and nontax payments
Federal
, State and local
Equals* Disposable personal income
Less* Personal consumption expenditures
Equals* Personal saving
__
--
- _
RELATION OF GROSS NATIONAL PRODUCT, NATIONAL
INCOME, AND PERSONAL INCOME
Gross national product
-
Less* Capital consumption allowances
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 and inventory valuation adjustment
Contributions for social insurance
Excess of \v age accruals over disbursements
Plus* Government transfer payments
Net interest paid by government.
Dividends
Business transfer payments
Equals! Personal income
1. Detail will not necessarily add to totals because of rounding.
2. Since the usual source materials on corporate profits are not yet available for the fourth
quarter, tentative and preliminary estimates of profits in that period, based upon the past
relationship of corporate profits and inventory valuation adjustment to private nonfarm
gross national product, are utilized above.
3. Not available.
4. Includes noncorporate inventory valuation adjustment.
Source: U. S. Department of Commerce, Office of Business Economics.
SURVEY OF CURRENT BUSINESS
February 1953
reflected the substantial drop in foreign demand in tbe face
of an unusually large crop—the second highest on record.
Drought conditions during the year which affected the supply
of animal feeds were also an important factor. This situation caused some acceleration in livestock marketings, placing downward pressure on livestock prices.
Distributive Shares of National Income
In substantial degree, the sizable shifts that occurred in
the distributive-share composition of the national income
last year counterbalanced the equally irregular changes that
had occurred the year before. Over the two-year period,
therefore, the general pattern of relative change in the distributive shares is evened out very considerably. This
accords roughly with the finding in connection with the industrial shifts and, indeed, was largely a function of them.
Share movements divergent
Corporate earnings and farm proprietors' income, after
registering increases substantially above the private-industry
average in 1951, showed moderate absolute declines last year.
Nonfarm proprietors' income, net interest, and rental income
made relatively small gains in 1951 but moved well above the
average in 1952. Finally, the advance in employee compensation in private industry equalled the overall rate in 1951
but exceeded it last year.
As a consequence of these offsetting relative movements,
the percentage increases from 1950 to 1952 in the income
shares originating in the private economy—-with, the exception of farm proprietors' income, as noted above—ranged
from 17 to 20}£ percent. This spread compares with varia.ions of 10-11 percentage points in the separate 1950-51 and
1951-52 relative changes.
In addition to the rise in private industry, total employee
compensation reflected sharp advances in Government military and civilian payrolls. As indicated, these advances
were much smaller last year than in 1951.
Further rise in private payrolls
Private payrolls in 1952, at $149 billion, were about $8
billion higher than in 1951. The preponderant share of the
increase reflected higher average hourly earnings, with
changes in employment and in the average workweek accounting for only a fractional part.
Table 4 provides a comprehensive summary for the past
two years of payrolls, employment, and average annual earnings by major industrial divisions. A feature of the data is
the general pervasiveness of the increases in average annual
earnings per full-time employee, together with the comparatively narrow range of variation around the overall 5
percent rise. Also revealed is the high level of employment
in the recent period.
Within the manufacturing division, the durable-goods industries continued, as in 1951, to account for a more-thanproportionate share of the total payroll expansion. However, the differential over the increase in the nondurable^
group was considerably smaller than in the preceding year—
reflecting among other factors the pickup of activity in the
nondurable lines in the second half of 1952.
Private payrolls, in general, moved ahead in the latter
part of last year. This acceleration stands out prominently
against the slight increases registered in the preceding several
quarters. In the main, it can be traced to the heavy manufacturing industries where, following the interruptions to
output caused by the lack of steel, there was a strong comeback reflected in increased employment, higher hourly wage
238593°—53
2
9
rates, and a step-up in overtime work. This was augmented
by some pickup in consumer durable and nondurable manufacturing lines that had been lagging.
Mixed trends in proprietors' incomes
The advance in total proprietors' and rental income from
$50K billion in 1951 to $52^ billion last year encompassed
sharp divergencies in the movement of major components.
Earnings of farm proprietors declined moderately, primarily
because of the fall in farm prices noted earlier. Nonfarm
business and professional proprietors' income at $28 billion
was 5 percent larger than in 1951. Following a moderate
rise in the first quarter of 1952, the income flow of this group
was fairly steady until the final quarter, when it moved up
with the expanded volume of trade. Rental income of persons, reflecting the steady rise in rental rates throughout the
Table 4.—Employment, Payrolls, and Average Annual Earnings by
Major Industrial Divisions, 1951 and 1952 !
Item
Number of fulltime equivalent
employees 2
Wages and
salaries
Data in
thousands
Millions of
dollars
1951
1951
Average annual earnings
per full-time employee
Dollars
Percentage
change
1951-52
1951
1952
52, 948 169, 906 181, 270
3,253
3,424
5.3
1952
1952
All industries, total
52, 237
Agriculture, forestry, and fisheries .. ... _ _ _ _ _ _ _ ._
Mining
Contract construction _ __ __
2,205
917
2,627
2,141
872
2,603
3,284
3,581
9,784
3,349
3,571
10, 422
1,489
3,905
3,724
1, 564
4,095
4,004
5.0
4.9
7.5
16, 142
9,214
16, 198
9,344
58, 287
30, 021
61,693
31,795
3,611
3,258
3,809
3,403
5.5
4.5
1,748
1,820
6,053
6,547
3,463
3,597
3.9
2,784
2,760
11,259
11,605
4,044
4,159
2.8
1,306
6,084
1,346
5,963
4, 643
14, 247
5,008
14, 804
3,555
2,342
3,721
2,483
4.7
6.0
9,901
28, 747
32, 392
3,121
3,272
4.8
43, 047 141, 159 148, 878
3,281
3,458
5.4
Manufacturing- _ _ _ _ _ _ _ _
Wholesale and retail trade
Finance, insurance, and real
estate
Transportation
Communications
utilities
Services
and public
Government 3
Addendum: all private industries
9,210
43, 027
and salary earners and its equivalent in work performed by part-time workers, i ull-time
employment i? defined simply in terms of the number of hours which is customary at a particular time and place. For a full explanation of the concept, see SURVEY OF CURRENT
BUSINESS, June 1945, pp. 17-18.
3. Includes government enterprises and rest of the world.
Source: U. S. Department of Commerce, Office of Business Economics.
year, showed an advance which was of considerably aboveaverage proportion, though not large in absolute amount.
Corporate Profits
Corporate profits before taxes averaged $39}£ billion (seasonally adjusted annual rate) in the first three quarters of
1952, as compared with $44 billion in the similar period of
1951.
Necessary data are not yet available for a fourthquarter profits estimate; however, past relationships of
profits to value of production (see footnote to table 3)
indicate a substantial recovery in the final quarter of last
year. The nine months' comparison shows a decline in
seasonally adjusted profits before taxes of $4/£ billion;
fourth quarter results may lower the year's decline to approximately $3 billion.
After-tax profits were less by over $2 billion, at annual
rates, in the January through September period of 1952 than
in the same months of 1951. Fourth quarter results may
lower the annual decline to approximately $!}£ billion.
SURVEY OF CURRENT BUSINESS
10
Profit margins lower
The main factor in lower corporate profits in 1952 as compared with 1951 was reduced profit margins (profits-to-sales
ratios). While corporate sales were slightly improved,
margins fell off substantially. The margin decline may, in
turn, be traced to the presence of inventory gains and losses
in reported profits. Inventory losses amounted to about
$% billion in 1952, as opposed to inventory gains of $1%
billion in 1951.
Elimination of these inventory gains and losses provides
a measure of profits earned in current production (the profits
component of national income). The relative stability of
•e
BILLIONS OF DOLLARS
60 r
February 1951
worthy was the experience of the large manufacturing sector
where profits fell almost $4 billion. Profit gains in th
transportation and communications groups approximate!;
offset declines in mining and "all other."
The sizable contraction in manufacturing profits (off one
fifth) stemmed almost entirely from lower margins, sale;
registering virtually no change. Experience in the mining
industries, where before-tax profits fell 15 percent, wa;
similar.
In the transportation industry, profits expanded 10 percen
owing to improved sales and wider margins. The rise was
centered in the railroad segment of the industry, where
freight rate increases became effective in the second quarter
Profits in the communications and other public utilities
group rose one-sixth from the first nine months of 1951 tc
the same period of last year. The two dominant industries
in the group—telephone and electric power—showed profil
increases of one-eighth and one-fifth, respectively. In the
telephone industry, the major factor in the rise was increased
sales. In electric power, expanded sales were bolstered by
widened profit margins.
Profit decline in manufacturing
INVENTORY GAINS V
^PROFITS BEFORE
:^£UX
TAXES
40
(PROFITS BEFORE TAXES PLUS
INVENTORY VALUATION ADJUSTMENT)
INVENTORY
LOSSES
Within the manufacturing sector, nearly all the 22 major
industry groups reported sizable reductions in profits for the
first nine months of last year. Only two—transportation
equipment and printing and publishing—registered improvement. The impact of the steel strike was particularly
evident in the 50 percent drop in profits of firms in primary
iron and steel.
In the 1952 period, profit margins were lower in all of
the manufacturing groups. Inventory losses in place of
Table 5.-—Corporate Profits Before Tax, by Major Industries,
Quarterly
20
\"PROFITS AFTER
[Millions of dollars]
TAXES
19 51
All industries, total
1950
195!
1952
Mining
1952
I
II
I
II
11,862
10, 932
9,981
10, 099
9,988
9,578
396
401
377
426
381
300
321
7 358
3,992
7, 005
3, 919
5,954
3, 146
6,061
3,483
5,806
3,258
5, 470
3,123
5,200
2, 621
3, 366
3,086
2,808
2,578
2,548
2,347
2 579
308
460
468
614
398
419
607
III
IV
III
9,546
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
this measure—corporate profits and inventory valuation
adjustment—may be observed in the accompanying chart.
Profits earned in current production amounted to $40%
billion in 1952—only $1 billion lower than earnings in 1951.
Subsequent discussion of the industrial, pattern of recent
profit changes is based on data for the first three quarters of
1951 and 1952. While such comparison largely abstracts
from the effects of seasonal variation, the fourth quarter
profits recovery was largely concentrated in manufacturing.
Three quarters' results thus tend to overemphasize the importance of manufacturing in the 1951-52 decline.
Profit changes by industry divergent
Total profits before taxes (unadjusted for seasonal variation) aggregated $29 billion in the first nine months of 1952,
almost $4 billion below earnings in the similar period of 1951.
Divergent movements characterized the profit experience of
the broad industry groups, as shown in table 5. Most note-
Manufacturing
Durable-goods industries ...
Non-durable-goods in dustrios
Transportat ion
Communications and public
utilities
All other industries _ _
679
600
559
678
802
697
652
3,001
2, 460
2, 623
2,320
2,601
2,692
2, 766
Source: U. S. Department of Commerce, Office of Business Economics.
1951 gains undoubtedly were important in this pattern of
reduced margins, although such inventory data are not yet
available on an individual industry basis.
The conventional grouping of manufacturing data by durable goods and nondurable goods industries does not reveal
a differential pattern with respect to 1951-52 movements of
sales, margins, and profits before taxes. This was also true
of profits and margins in a defcnse-nondefense classification
of manufacturing industries. There was, however, a distinct
tendency for defense industries to show better-than-average
sales performance notwithstanding the widely divergent experience of individual groups making up this classification.
SURVEY OF CURRENT BUSINESS
February 1953
11
Price Developments in 1952
.HE year 1952 was one of expanding output with
relatively stable prices. Average prices of final products
increased about 2 percent during the year, though prices in
the more volatile wholesale markets were lowered—dropping
3 percent.
Prices of farm products moved erratically but generally
downward; at the year end the}7 were 10 percent lower than at
the beginning of the year. For 1952 as a whole the index of
average farm prices, while below the 1951 peak, was about
equal to the previous high in 1948. The 1952 decline in
farm prices was accompanied by a drop of nearly 6 percent
in wholesale prices of processed foods. Industrial wholesale prices, on the other hand, were relatively stable with
the total reduction during the year amounting to less than
V/2 percent.
Wholesale Prices declined
during 1952 although
prices of important groups
were fairly stable . . .
-15
I
PERCENT CHANGE,
DEC. 1951 TO DEC. 1952
-10
-5
0
I
I
+5
I
Divergent price trends
Wholesale prices of rubber products, hides, skins and
leather products, textiles and apparel, and of chemicals
decreased by at least 5 percent during 1952. In these cases
increased production and supplies were important factors.
For example, total domestic production of rubber and imports
in 1952 was somewhat above 1951; production of shoes was
higher; and output of chemicals was up moderately.
with all but two
groups below postKorean peaks * . .
PERCENT CHANGE,
PEAK MONTH TO DEC. 1952
-20
-15
-10
-5
I
I
T~~
• ALL COMMODITIES
FARM PRODUCTS
PROCESSED FOODS
INDUSTRIAL COMMODITIES
RUBBER a
PRODUCTS
HIDES, SKINS, a
LEATHER PRODUCTS
TEXTILE PRODUCTS
a APPAREL
CHEMICALS a
ALLIED PRODUCTS
PULP, PAPER, a
ALLIED PRODUCTS
LUMBER a WOOD
PRODUCTS
FURNITURE a OTHER
HOUSEHOLD DURABLES
FUEL, POWER, a
LIGHTING MATERIAL
MACHINERY a
MOTIVE PRODUCTS
METALS a
METAL PRODUCTS
NONMETALLIC MINERALS,
STRUCTURAL
TOBACCO MFRS. a
BOTTLED BEVERAGES
I
I
<J. 5. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
Relatively moderate movements also characterized many
groups and items. However, prices of some important
industrial commodity groups declined substantially while a
few others increased moderately.
and all groups
above immediate
pre-Korean levels
0
PERCENT CHANGE,
2ND QTR. 1950 TO DEC. 1952
+5
+10
-H5
+20
I
I
1
12
SUEVEY OF CURRENT BUSINESS
Prices of a few major groups of items continued upward
throughout the year although the increments were moderate.
These movements reflected, in the main, cost increases. In
the case of steel higher prices were allowed with the increase
in wage rates. In other cases upward adjustments in ceilings were granted by the Office of Price Stabilization on the
basis of regulations allowing relief where costs were rising.
Wage rates were generally higher in 1952, although the
increases were smaller than from 1950 to 1951. In durable
goods manufacturing, for example, gross average hourly
earnings, excluding overtime (which is roughly a measure of
basic wage rates), in 1952 were more than 5 percent above
1951; in nondurable goods manufacturing they averaged 4
percent higher.
At the end of 1952 prices of many major groups of items,
particularly those related directly or indirectly to defense,
were fairly close to peak levels. A number of important
groups, however, were substantially below their former
highs. Prices of all major groups of items were still
significantly above mid-year 1950, although there was a
wide dispersion in the relative positions.
The easing of price pressures during most of 1951 and continuing in 1952 mirrored a number of basic developments in
February 1953
the economy. As indicated in the previous section, tota
private output increased by 2 percent from 1951 to 1952 witl
the movement being sharply upward in the last quarter o:
the year. This permitted an increased flow of goods tc
markets which was sufficient to meet the demands stemming
from the major economic sectors. Furthermore, these
demands, while continuing to advance, had become less
volatile during most of 1952, except for the temporary
dislocations due to the steel strike.
With output expanding more rapidly than demand, the
materials situation had eased perceptibly for most commodities. Allotments of controlled materials to consuming
industries were increased and some production and distribution controls were removed or relaxed. Furthermore
as the aftermath of the two buying waves following the
outbreak of war in Korea, consumer demand for many items
had eased off in 1951 and much of 1952. This resulted ill
more intensive competition in both retail and wholesale
markets. The small increase in the consumers' price index
was due to the lagging or slower-moving components—rents3
electricity, and many of the other services. The consume!
price index in 1952 averaged 113.5 (1947-49=100), representing an increase of about 2 percent over 1951.
Industrial Production
J.OTAL industrial production was high throughout
1952—although retarded at times by major work stoppages.
For some industries, output tended upward throughout the
year to new peaks. For a larger group, however, production
in the first half continued a decline which had begun in
1951 but subsequently recovered rapidly. December output in these industries was appreciably above the first
half rate and in some cases close to earlier highs.
A characteristic of the production pattern in the second
half was one of increasing uniformity with the output curve
of most industries moving upward. This pattern contrasts
with 1951 when most of the nondefense industries were
moving down or levelling off at reduced rates.
The rise in total output in the last half of 1952 reflected
in part the effort on the part of industry to recoup the loss
in production associated with the steel mill shutdown, and
to meet the advance in consumer spending. The flow of
goods to consumers was somewhat higher than in 1951 with
increases in nondurables offsetting some declines in hard
goods lines.
Production of direct defense materiel showed some further
rise during the year. The rate of increase from quarter to
quarter was considerably smaller than in 1951 when the
defense build-up was rapidly accelerating. For the year,
direct defense production accounted for about 15 percent of
total industrial production.
Most materials other than the CMP metals were in
improved supply relative to demand. Steel supplies were
influenced by the erratic movement of production. Finished
steel in the last half of the year was especially stringent and
restricted the rate of operations in the metal fabricating
industries during much of this period. Total supplies of
copper and aluminum increased moderately during the year
although with the military take higher the quantity available
for nondefense production was lower than in 1951.
Controls relaxed on other materials
With the supply of most other materials rising and with
the pressure of requirements lessened for most programs,
many materials and products originally placed under production, distribution, and inventory controls were freed
during the year.
During the year, considerable progress was made in the
program for expanding the Nation's basic facilities and this
was a major factor in the supply of many materials.
Especially noteworthy were the substantial increases in
capacity for producing steel, aluminum, and many chemical
products widely used in defense production.
Consumption of materials in defense and related industries
was substantially higher in 1952 than in 1951. Allotments of
materials for these industries approximated one-fourth of the
reduced steel supply, more than two-fifths of the aluminum,
and nearly one-third of the copper as against considerably
smaller proportions in 1951.
In 1953, the increase in the military take will be most
significant in copper, though some particular types of metalbased materials will be difficult to secure. The quantities
available for nondefense production for the year as a whole
are expected to be substantially higher on the basis of presently programmed munitions schedules, except for copper.
Last year, direct allocations of CMP materials for civiliantype products averaged around 50 percent of consumption
in the pre-Kprean base period (quarterly average, first half,
1950). During the year, however, supplemental allotments
of materials were issued so that output of many household
durables was above the allocated rate of materials. More-
13
SURVEY OF CURRENT BUSINESS
February 1953
Output of most industries expanded after mid-1952
Many industries, particularly defense and related, were consistently above the preceding year ,
INDEX, 1st HALF 1950=100
400
TRANSPORTATION
EQUIPMENT,
EXCEPT MOTOR
VEHICLES
INDEX, 1st HALF 1950 = 100
175
MACHINERY, EXGL.
HOUSEHOLD APPLIANCES
THOUSAND SHORT TONS
260
THOUSAND SHORT TONS
60
MAGNESIUM,
PRIMARY
300
150
240
40
ALUMINUM,
PRIMARY
MILLION POUNDS
100
MAN-MADE
FIBERS OTHER
THAN RAYON
80
1952
1952,
1952
200
125
220
100
100
200
60
20
40
while others sharply reversed the declining trend which began in 1951
MILLIONS
3
PASSENGER
AUTOMOBILES
MILLIONS
3
TELEVISION
SETS
INDEX, 1947-49 = 100
MILLIONS
8
MILLION POUNDS
450
RAYON AND
ACETATE
MEN'S SUITS
CARPETS AND
RUGS
1951
100
375
1951
50
1952
1951
300
1952
1952
J
1st
I
2nd
J
3rd
4th
1st
2nd
I
I
3rd
4th
1st
I
2nd
I
I
3rd
4th
1st
I
2nd
1
3rd
225
4th
over, use of existing inventories, conservation and substitution of materials, and adjustments in base period for growth
products also contributed to the higher rate of production.
Although there was some decline in the overall production
of raw materials due largely to the loss associated with the
steel shutdown, total consumption was about as high as in
1951 as many manufacturers in the metal-working industries
cut into their stocks of steel to maintain plant operations.
In some industries, consumption was somewhat lower than
in 1951 not because of supply limitations but because of a
slackening in the early part of 1952 in consumer demand for
specific products.
Following settlement of the steel dispute late in July, the
industry recovered rapidly, with output in the OctoberDecember period reaching a new peak of 28.9 million tons of
steel ingots and castings, an annual rate of close to 116
million tons. For the year as a whole, however, production
aggregated 93.1 million tons, about 11 percent below that of
1951.
Supplies of nonferrous metals expanded during the year
with moderate increases in domestic production and substantially higher imports. Producers generally maintained
operations close to capacity rates. Reflecting the addition
of new producing facilities, domestic production of aluminum
increased more than 10 percent, despite the power loss from
severe droughts in the Pacific Northwest and the Tennessee
Valley in most of the latter half of 1952 which cost perhaps
50,000 tons of output. Domestic mine production of copper,
1st
and
3rd
4th
53-24
. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
lead, and zinc was little changed from 1951 to 1952. Overall
supplies increased moderately for copper and zinc while lead
supplies nearly doubled as shipments from foreign markets
increased more than two-fold.
Outside the metals group, production of materials kept
pace with actual demand which in some cases fell below 1951.
Increased production was reported for such important basic
materials as crude petroleum, industrial chemicals, and cement
while decreases were noted for textile fibers, paperboard, and
most building products.
Strong upswing after midyear
The strong upswing in manufacturing output which began
in midsummer continued through the closing months of the
year with both the durable and nondurable goods participating in the advance. For the year as a whole, manufacturing production was a little above 1951.
The upward movement in the output of transportation
equipment—largely representing long-term contract work on
aircraft and ships—and electrical (including radios and television sets) and nonelectrical machinery can be seen in the
chart. The indexes used in the chart for these industries
represent activity as measured by the Federal Reserve index
of industrial production with rough adjustments made to
eliminate the output of motor vehicles and major household
equipment lines.
14
SUEVEY OF CURRENT BUSINESS
The stepped-up output of planes in 1952 boosted the
number of production workers in aircraft plants to over
484,000, an increase of more than one-fifth during the year.
A similar increase in employment occurred in shipbuilding
and repair yards.
Output of machinery increased further in 1952. The
moderate gain as compared with the advance in 1951 reflects
the smaller year-to-year rise in business outlays for capital
equipment. The machine tool industry—a key segment in
the machinery group turning out defense and producers'
equipment—expanded its sales by four-fifths. The high
level of shipments during the year permitted the industry to
reduce its backlogs from 19 months' to 10 months' shipments
at current rates of delivery. New orders were off more than
one-third from the very high volume of 1951, reflecting the
fact that certain Government and business programs were
reaching a peak.
Upturn in consumer durable goods output
Production of consumer durable goods was steady through
the first half of 1952, dipped in July and August and then
moved up in the fall months to reach a year-end rate about
one-third higher than in the first half of 1952. For the year
as a whole, however, output, as measured by the Federal
Reserve index for major consumer durable goods, was 12
percent lower on the average than in 1951 and nearly onethird below the peak volume of 1950.
Changes in production of 10 representative consumer
durable goods from 1951 and from 1950, which was generally
the postwar peak year in this area, are shown in the accompanying table:
Percent change in production of selected consumer durables
1950 to 195S
(percent}
1951 to 195$
(percent)
Passenger cars
Refrigerators, electricWashing machines
Vacuum cleaners
-35.2
-42. 0
-26.2
-19.5
-19. 1
-12.4
-6. 1
4. 1
Freezers, farm and home
Dryers, clothes
Air-conditioning units, room_
Water heaters, electric
Radios
Television sets
28.0
91.2
26. 5
— 27. 3
-33.4
— 18. 3
8. 6
24. 0
15.2
-14.8
-21. 1
13.2
Restrictions on the use of materials was a contributing
factor for the drop in passenger cars, whereas a reduction in
consumer demand was the more important force behind the
decline in other lines.
February 1953
The automobile industry operated on a restricted basis
throughout the year because of NPA limitation orders on
the use of metals. The production performance varied
somewhat from the quarterly pattern set by NPA but for
the year as a whole, total assemblies were in line with%
permissible production.
During the July-September period, when the full effects
of the steel shutdown were felt, passenger car completions
totalled 825,000 units. In the fourth quarter, the industry,
aided by a better supply of steel, rolled out nearly 1.3
million units—an annual rate of 5.2 million. This was the
highest rate since the second quarter of 1951, a period when
controls on production were not in effect. Last year's
output of motor vehicles totalled 5.5 million, including 4.3
million passenger cars and 1.2 million trucks. Total production was about 1.2 million under 1951.
In the household appliance group, the production gains
were in the relatively newer lines, such as freezers, dryers,
and air-conditioning units, which have shown a strong upward growth trend in the postwar years. Increases in output
were also shown for vacuum cleaners and television sets but
most other lines declined. Output of major appliances near
the year end, though up 15 percent from the first quarter,
was still about one-fifth below earlier peaks.
It should be pointed out that many manufacturers of consumer durable goods are also engaged in the production of
defense and related products and that therefore civilian goods
output as measured by the number of automobiles, refrigerators, television sets and other products produced does not
reflect total activity in these industries. Deliveries to the
Armed Forces have been increasing steadily in the past two
years and now constitute an important part of the total output of many industries. In the case of the auto industry,
for example, shipments against military and other rated
orders in 1952 accounted for roughly one-fifth of total shipjft
ments and in the case of the radio and television industry the
proportion was substantially higher.
Nondurables also turn up
Production of nondurable goods in the final quarter was at
a high rate with some groups attaining new peaks while
others recovered sharply from the rates earlier in the year.
Increases in production over 1951 for the year as a whole
occurred in clothing, leather and shoes, tobacco, industrial
chemicals, refined petroleum, and rubber products. In other
lines producing finished goods, such as food and publishing,
output was generally stable.
Agricultural Production and Income
_F ARM output reached a new high in 1952, marking the
second consecutive advance above the production plateau
maintained from the latter part of the war period through
1950. Gross farm income was about the same as in 1951,
and appreciably higher than in any earlier year, but expenses
of production rose, bringing a moderate decline in net farm
income, as shown in the accompanying chart.
The net income of farm proprietors of about $15 billiot
was more than 10 percent below the 1948 peak. Since
national income has been rising in the past few years the proportion of farm income to total income has declined substantially. In the first few postwar years, farm proprietors'
income was somewhat higher than 7 percent of total national
income, the 1935-39 average proportion, but it has now re-
SURVEY OF CURRENT BUSINESS
February 1953
ceded to 5 percent. If account is taken of the reduction in
the number of farms, however, and the increase in total
United States employment, the farm income position appears
more favorable. Income per farm operator has risen somewhat more than national income per employed worker from
the prewar period, although it is now less favorable than
during the war and most of the postwar period.
Decline in prices after midyear
The year as a whole was one of strong demand for farm
products though exports were substantially below 1951.
Increased domestic output in 1952 and a higher volume of
farm marketings than in 1951 were accompanied by roughly
proportional declines in average prices received. During
• Gross farm income in 1952 was
about the same as in 1951
* Net income was pared by rising costs
BILLIONS OF DOLLARS
50
GROSS FARM INCOME
PLUS INVENTORIES
40 -
15
during the war period. In 1952, it was second only to the
1948 high and appreciably above that of any other year.
Livestock output has followed a considerably different
pattern. It rose to a high point during the war, and then
declined in the immediate postwar years, reaching a low
point in 1948. Since that time marketings have expanded
steadily, and by 1952 exceeded the wartime peak. Cattle
herds have been built up for several years. Some slackening
in the expansion of herds in 1952 w^as accompanied by increased marketings, and prospects are for another rise in
1953.
Meanwhile, hog production which had been expanding for
a few years prior to 1952 was curtailed during the year. The
pig crop was 10 percent lower in 1952 than a year earlier and
the smallest since 1948. Farmers report a further intended
cut of 13 percent from a year earlier in the number of sows
to farrow in the spring of 1953. These successive cuts in
pig production reflect a corn-hog ratio that has been less
favorable than the long-time average.
Dairy production in 1952 was about the same as in other
recent years. In the final quarter of the year, production
began to exceed the comparable months in 1951, and there
was some weakening in the strong trend which had prevailed
in dairy prices. Support purchases of manufactured dairy
products became important and import restrictions were
tightened.
Poultry and egg production rose substantially in 1952. A
strong secular uptrend brought production to a point twice
as high as the 1935-39 average, though there w^as evidence
at the year-end that there would be a tapering off in egg
production a few months hence.
Bumper harvests
Crop production in 1952 was not only large but largerthan-expected as splendid harvesting weather contributed a
final boost to yields of a number of major crops. The
Table 6.—Index Numbers of Volume of Production for Sale and
Home Consumption
10 -
[1947-49=100]
1945
U. S. DEPARTMENT
1946
1947
1948
1949
i960
1951
OP COMMERCE. OFFICE OF BUSINESS ECONOMICS
1952
53~
Item
Livestock products:
A^eat 8.11] HI Ills
Dairv products
Poultry and eggs
1945
_ __
1946
1947
1948
1949
1950
1951
19521
108
99
125
96
98
96
99
100
106
100
100
112
104
99
120
102
97
101
103
107
110
108
76
82
98
103
119
104
100
88
106
113
101
82
102
70
103
81
92
106
112
106
99
105
108
94
104
104
90
113
108
98
95
110
92
99
98
100
100
94
100
101
104
118
117
78
115
105
107
93
79
109
100
104
94
107
104
106
105
103
101
104
102
98
107
104
87
86
62
100
91
101
60
107
96
99
94
87
98
112
114
110
83
106
the latter part of 1952, however, a substantial decline occurred in farm prices.
The major influences leading to lower farm prices were an
increase in United States supplies—somewhat greater than
had been anticipated—and a curtailment in foreign demand.
No weakening appeared in the strong tide of consumer demand for products from the farm. This is particularly true
of foods, which form the great bulk of the final demand for
farm products. Retail food store sales advanced in each of
the first three quarters of 1952, on a seasonally adjusted
basis, and held steady in the fourth quarter at a rate about
5 percent higher than a year earlier. There has been some
increase in the portion of the food dollar absorbed by marketing agencies, however, and a corresponding decline in the
portion received by farmers.
All livestock
Crops:
Food grains
Feed crops
Cotton (lint and seed)
Truck crops__
_
Record livestock marketings
composite yield index was 10 percent higher than the average
for the past ten years and was exceeded only in 1948. The
total acreage of crops grown was smaller than in most other
recent years, though the acreage harvested was greater than
in the preceding season because of smaller crop losses.
Increases in both crop and livestock production contributed to the record farm output in 1952. Crop production in the past few years has been considerably higher than
Other vegetables
Tobacco
_ _ _ _ _ _ _
Fruits and tree nuts
_ _ __
Oil-bearing crops
Sugar crops .
_
All crops
Food production
Nonfood production
All commodities
86
94
94
105
101
94
97
101
102
81
103
87
102
84
98
110
100
106
101
93
102
103
107
104
98
100
99
100
101
99
102
106
1. Production estimates are based on crop estimates as of December 1 and estimated marketings and home consumption of livestock and livestock products.
Source: U. S. Department of Agriculture, Bureau of Agricultural Economics.
16
SURVEY OF CURRENT BUSINESS
There were bumper harvests of the principal crops—cotton,
corn, and wheat. In fact, outturns were generally good for
most crops. The principal exceptions were some of the crops
which are widely grown in the drought areas. These include
such feed crops as grain sorghum, silage and forage. As a
consequence, despite high national production of grain and
hay there were shortages of feed over an extensive area which
led to some accelerated marketing of livestock in the fall of
the year.
For the country as a whole, the supply of concentrate feeds
in the fall of 1952 was about as large as a year earlier, and
in view of the reduction in hog production, the supply per
animal unit was a little larger. The hay supply was 3 percent
smaller than a year earlier. As the number of cattle continued to increase, the supply of hay in relation to the
livestock to be fed declined below the average for the postwar years. Though the hay supply remained adequate on a
national basis, subnormal pastures and ranges throughout a
large area required heavy in-shipments for supplemental
feeding.
Food grain production was about one-third higher in 1952
than in the two preceding years and 6 percent above the
1947-49 average. The seeding of the winter wheat crop in
the fall of 1952 for harvest in the summer of 1953 took place
under drought conditions, and prospects continued poor
during the early winter months.
The potato crop was unusually small for the second year
February 1953
in a row, and 16 percent below the 1947-49 average. Markets
were only scantily supplied through much of the }^ear anc
prices were abnormally high. At the year-end prices received by farmers for potatoes were higher than in Decembei
1951, and 16 percent above parity.
A cotton crop of 15 million bales was harvested in 1952
about the same as in 1951.
Exports decline as supplies increase
Agricultural exports in 1952 were valued at $3.4 billion
as compared with $4 billion in 1951. During the earlj
months of 1952, farm exports ran ahead of a year earlier, but
declined substantially in the latter part of the year at the
same time that the principal crops were being harvested and
beginning to move to market. Prices of a number of principal farm products declined to support levels, and a large
volume was placed under loan or purchased by the Commodity Credit Corporation. At the year-end, CCC had
invested $1.4 billion in support of 1952 crops as compared
with $835 million for the preceding crop at the same date a
year earlier.
Over one-half of this total represented price support for
wheat. New loans made on cotton and corn were expanding
at the year-end. In the perishable commodity group, butter
was being purchased by the CCC for price support at the rate
of 1 million pounds per day.
Domestic Trade
lETAIL trade activity in 1952 was characterized by an
upward trend that increased appreciably in strength at the
year's end. This marked a continuation of the improvement
in sales position which had begun in mid-1951 following a
downward shift early in that year. In the fourth quarter
of 1952, sales reached a seasonally adjusted annual rate of
$170 billion—exceeding by 8 percent the dollar total for the
corresponding quarter of 1951.
Total sales of all retail stores for 1952 at $164 billion were
4 percent larger than the previous year total. Part of this
represented higher average prices so that the change in
physical volume was relatively small. Retail sales rose only
slightly less from 1951 to 1952 than did disposable personal
income, and again accounted for about 70 percent of consumers' after-tax income.
On the whole, chain store sales advanced slightly more
from 1951 to 1952 than did those of independent retailers.
By lines chains increased somewhat their share of total sales
in the grocery and department store sectors, while the apparel
chain proportion declined moderately. There were no appreciable differences between the trends of chain and independent stores in other major kinds of business.
Largest advance in nondurables
The retail trade pattern in 1952 varied considerably
among major groups of retail stores, an el more widely in individual commodities. Sales of the nondurable goods group
rose 5 percent for the year as a whole with its major components recording small upward movements throughout 1952,
after allowance for seasonal factors. The durable goods total
which increased slightly from 1951 to 1952, again showed
substantial fluctuations within the year as they had in the
preceding year. The swings were partly due to the cessation
of consumer credit controls in May and, more importantly,
to the steel shutdown and the resultant decline around mid-
year in the supply of some major consumer durable goods,
notably automobiles.
Food store sales continue growth
Expenditures for food continued the steady advance which
had characterized the previous year, rising in total about 6
percent for the year (see upper panel of chart). Food
prices again averaged higher but the physical volume of
food moving through retail channels was also up. Food
stores were one of the few retail groups receiving an increased
share of the consumer dollar in 1952.
Sales of most other nondurable goods groups also showed
moderate increases. In a number of lines of trade, notably
general merchandise, apparel, and drug stores, the pick-up
in the last quarter was above that shown in the earlier quarters.
Durables recover at year's end
Total sales at durable goods stores did not show the regu
larity of movement which occurred in the nondurable sector.
This was importantly influenced by the pattern of sales
activity exhibited by motor-vehicle dealers as automotive
sales account for about half of all sales of durable goods.
With production of automobiles restricted to some extent
in 1951 by materials shortages, sales in the automotive
group had declined steadily from the high point in the first
quarter of 1951 through early 1952. In the second quarter
of last year, sales increased by almost one-sixth as automobile production rose and consumer credit controls were
removed.
The movement was reversed, however, in the third quarter as steel shortages led to a decline in automobile output.
In the fourth quarter, after the resumption of steel production, auto firms went rapidly into full production with the
result that sales mr.de their best showing for the year.
SUEVEY OF CUEEENT BUSINESS
February 1953
In most other durable-goods categories, after a rise in the
first quarter, sales were stabilized although some strength
developed in the late months of the year. Relative to 1951,
homefurnishiiigs and jewelry stores registered the largest
sales increases last year, while hardware was the only major
trade category to decline.
Retail Sales rose in 1952 to reach
new high at year end
INDEX, 1951 = 100
All nondurablegoods stores
showed sales
gains
110
APPAREL
100
•*
RAL
MERCHANDISE
j
90
!
Automobile
sales recovered
quickly after
third quarter
steel shortage
no
17
stations have been authorized, and construction of many of
them is now under way.
Wholesale Trade
Wholesale sales in 1952 were slightly below those of 1951
in dollars and with wholesale commodity prices lower, the
physical volume was moderately higher than in the previous
year. Sales were generally stable during the first eight
months of 1952, and then showed renewed strength during
the remainder of last year. In the fourth quarter, sales were
close to record rates.
The dollar decline in wholesalers' sales in 1952 was
entirely attributable to the 5 percent drop in durable goods.
Sales of most durable goods lines improved during the year
but few had returned to the very high rates recorded in early
1951. Every major trade in this group had lower sales in
1952 than in 1951. By year's end all except the machinery
and metals group had moved above year-earlier totals.
The effect of the steel strike was evident principally in
lowered sales of automotive products in mid-1952. Sales
of metals wholesalers were fairly well maintained during this
period by drawing down warehouse stocks.
Sales of nondurable goods wholesalers during 1952 were
slightly higher than in 1951. The year-to-year gain was
entirely due to sales increases of about 5 percent each in
foods, drugs and sundries, tobacco, and beers, wines and
liquors. Apparel and dry goods sales in 1952 were under
the previous year, but this decline reflected lower prices.
Sales of paper products also were off from 1951.
Table 7.—Sales of Retail Stores by Kinds of Business, 1951-52
[Millions of dollars]
100
1952 quarters seasonally adjusted
1951
no
100
1951
1952
SEASONALLY ADJUSTED
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS*
53-11
While the effect of the removal of credit controls seemed
evident in the case of automobiles its impact on other lines
was less apparent. In department stores, sales of certain
durables such as television and other major home appliances
rose appreciably in the second quarter although in the latter
part of the year they were below year-ago rates.
Television sales were influenced also by the removal of
the freeze on transmitting-station construction by the
Federal Communications Commission which led to the
actual operation of about 21 new television broadcasting
stations during the ye&r. Since the middle of 1952, 165 new
238593°—53
3
II
| III
IV
39,581
41, 186
40, 549
42, 512
55, 164
13, 290
14,315
13,203
14,419
Automotive group
28, 156
Motor vehicle, other automotive dealers
26, 282
Tire, battery, accessory dealers 2- 1,874
Furniture and appliance group
8,604
Furniture,
homefurnishings
stores
_ _ - 5,095
Household appliance, radio
stores 2
_ _ _ 3,509
28, 303
6,546
7,546
6,478
7,783
26, 352
1, 951
8,938
6,054
492
2,200
7,060
486
2,180
5.989
488
2,214
7,299
484
2, 326
5,273
1,290
1,294
1,299
1,380
3,665
910
885
915
946
Jewelry stores 2
1,351
Lumber, building, hardware group. 10, 208
Lumber, building materials
dealers
- - _ - 7,470
Hardware stores 2
2,738
1,398
10, 158
353
2,561
356
2,562
363
2,560
353
2,480
7,534
2,624
1,886
675
1,898
664
1, 916
644
1, 832
648
_ _ _ _ _ _ 103, 744 108,819
158,223 163,983
l
26, 290
26,872
27, 346
28, 092
Apparel group
Men's and boys' wear stores
Women's apparel, accessory
stores
Family and other apparel
stores 2
Shoe stores
10, 209
2,461
10, 709
2,550
2,530
596
2,613
587
2,629
622
2,848
702
4,049
4,224
1,016
1,045
1,051
1,096
2,015
1, 684
2,225
1,710
518
400
566
414
537
419
582
468
Drug and proprietary stores
Eating and drinking places
Food group !
Grocery stores. _
Gasoline service stations
4,547
12, 207
37, 626
30, 346
9,151
4,723
12, 688
39, 776
32, 265
9,959
1,175
3,133
9,604
7,762
2,392
1,163
3,163
9, 868
8,005
2,434
1,167
3,183
10, 146
8,237
2,520
1,212
3, 203
10, 159
8, 262
2, 603
General merchandise group
Department stores, excl. mail
order
_ _
Mail order (catalog sales)
Variety stores
_
_ _ _
Other general merchandise
stores
_ _ _
Liquor stores
_ - _
18, 202
18, 678
4,465
4,595
4,641
4,880
10, 095
1,309
2,859
10, 262
1,343
2,987
2,446
318
718
2,531
330
750
2,551
339
758
2,681
350
754
3.939
2^975
4,086
3,173
983
741
985
801
993
803
1,094
813
Nondurable goods stores
90
I
54, 479
All retail stores 1
Durable goods stores *_
Homefurnishings
sales picked up
sharply in
second half—
building
materials lagged
1952
1. Sales of other durable goods stores, other food stores, and other nondurable good.s stores
are not shown separately but are included in the totals.
2. Estimates for these groups have a significantly higher sampling variability than the
remaining groups.
Source: U. S. Department of Commerce, Office of Business Economics and Bureau of
the Census.
SURVEY OF CURRENT BUSINESS
18
February
Domestic Business Investment
I,
INVESTMENT during 1952 by private nonagricultural
business declined about $5 billion from 1951, with moderate
increases in the acquisition of plant and of equipment only
partly offsetting a reduction in the rate of inventory accumulation. Farmers invested less in both inventories and fixed
assets, the combined reduction amounting to $1 billion,
while expenditures for residential and institutional construction were little changed from 1951.
Movements in investment in 1952 reflected the changing
requirements of a more advanced defense program, private
demand which was rising during the year, and the mid-year
steel stoppage. The net results of these factors can be seen
in the charts.
Both trade and manufacturing inventories showed moderate accumulation for the year as a whole. Within the year,
developments on the supply side, particularly those arising
from the steel shutdown, obscured the gradual rise in the
aggregate demand for inventories as requirements for civilian
holdings rose while the need to add further to stocks to support defense production was dwindling. Total inventory
holdings at the end of 1952 appeared well balanced and about
in line with the current sales and order position. The rate
of increase in durable goods inventories in the fourth quarter,
however, was subject to a temporary special stimulus as an
aftermath of the steel strike.
Capital outlays in 1952 reached a new high, although the
total rise was small in comparison with the sharp advance
earlier in the post-Korean period. Fourth quarter expenditures were the largest of the year. Businessmen have indicated in a special survey that they expect in 1953 to continue
last year's rates of plant and equipment investment.
A comparison of fixed investment by industries shows many
industries with lower outlays in 1952 than in 1951, despite
the increase in the all-industry total. In recent quarters,
however, downward movements have been checked or reversed in most of these industries, with transportation as the
outstanding exception.
Plant and Equipment Expenditures
Expansion of productive facilities in 1952 continued at a
high rate. Business expenditures for new plant and equipment totaled $27 billion, or 2 percent above 1951. After
allowance for the moderate rise in capital goods prices, the
two years were about equal in the physical volume of fixed
asset acquisition.
The high point in capital goods expenditures was reached
in the final quarter of 1952 with a seasonally adjusted annual
rate of over $28 billion. This compares with almost $27.5
billion in each of the first two quarters, and less than $26
billion in the third quarter when installations were delayed
by the steel strike.
Government aids through rapid tax amortization and other
defense programs in 1952 continued to provide a stimulus to
capital goods demand. The value put in place on projects
with certificates of necessity was some $3 billion higher than
in 1951, as compared with less than a billion dollar rise in
total capital spending, and probably reached its peak in 1952.
As the year progressed, however, program increases in nondefense sectors became evident. These were associated both
with an improved consumer market and profits outlook, and
with an easing, except for the temporary influence of the
steel shutdowns, in the supply of materials.
Industrial patterns
Manufacturing, communications, and electric power were
the only major industries to increase their rate of capital
goods investment from 1951 to 1952. Capital outlays by
Plant and Equipment Expenditures
^
Changes in investment were more selective
in 1952 than in 1951
^
Communications and manufacturing were the
major areas of strength
PERCENTAGE CHANGES, I960 TO 1951 AND 195! TO 1952
-20
-10
0
-HO
+20
+30
-30
+ 40
ALL INDUSTRIES
COMMUNICATIONS
DURABLE-GOODS
MANUFACTURING
NONDURABLE-GOODS
MANUFACTURING
PUBLIC UTILITIES
RAILROADS
TRANSPORTATION
OTHER THAN RAIL
MINING
COMMERCIAL
AND OTHER
(J. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
53-6
SURVEY OF CURRENT BUSINESS
February 1953
the two latter industries each rose about one-sixth while expenditures by manufacturers were about 12 percent higher
than a year earlier. Capital outlays by the transportation,
mining, and commercial industries were moderately reduced.
(See table 8.)
TUT
r
•
•
7
7
Manufacturing expansion in record volume
Manufacturers purchased a record $12.5 billion of new productive facilities in 1952, with the durable and nondurable
goods groups contributing almost equally to the $1.3 billion
increase from 1951. Within these groups the largest increases occurred in industries closely related to the defense
program, while the few declines were in noridefense areas.
Among producers of hard goods, the 1952 investment of
$1.7 billion by iron and steel companies was almost 30 percent higher than in the previous year— while the $0.5 billion
capital expenditure by nonferrous metals companies was up
by 80 percent. More moderate relative increases occurred
in electrical and nonelectrical machinery— 8 and 13 percent,
respectively— and in motor vehicles (10 percent) and nonautomotive transportation equipment (17 percent).
The stone, clay and glass and the fabricated metals groups,
on the other hand, made fixed investments during 1952 about
one-fifth below 1951.
Nondurable goods manufacturers increased plant and
equipment outlays by $600 million in 1952, to a total of
$6.6 billion. Petroleum companies in 1952 spent $2.5
billion, or two-fifths of this amount. This was one-half billion dollars more than their expenditures in 1951. Investment of $1.5 billion by companies in the chemicals field was
up one-sixth from 1951. Rubber companies in 1952 upped
their capital spending by one-third and beverage firms by
nearly one-fourth. Sizable cutbacks from high 1951 rates
of fixed investment were made by textiles and paper companies, and there was a moderate decline in capital outlays
by food companies.
Transportation outlays decline
The railroads and the nonrail transportation group each
reduced acquisitions of capital facilities by somewhat over
5 percent from 1951 to 1952. In the latter group sizable
increases in investment by airlines and transit companies
were more than offset by lowered expenditures by pipelines,
trucking and other transport companies.
The railroads increased their outlays for road betterment
and additions., but cut back their investment in rolling stock.
Purchases of locomotives fell about 5 percent from 1951 and
installations of freight and passenger cars were off by onefifth. Despite the lowered rate of installations, unfilled
orders for locomotives and freight cars at the end of last year
were down substantially from the end of 1951.
Electric power up, gas utilities down
Total capital outlays in 1952 by public utilities at $4 billion
were about $100 million higher than in 1951. Here, an increase of about $400 million in spending by electric power
companies was largely offset by declines in capital outlays by
gas and other utility companies.
Electric generating capacity in 1952 increased about 6
million kilowatts, about one million less than in 1951 and
some 3 million kilowatts less than the 1952 defense goal.
Failure to meet this goal was in large part traceable to material shortages and deficiencies in heavy power equipment
delivery. The 1953 program calls for installation of almost
12 million kilowatts, of which three-fourths is scheduled by
private power companies. Full realization of this goal,
however, may again be affected by some continuing material
shortages.
19
In the mining field, capital outlays made in 1952 by
petroleum and nonferrous metals extraction companies were
lower than in 1951, while other mining expenditures were
little changed. Communications companies increased their
Table 8.—Expenditures o n N e w Plant a n d Equipment b y U . S .
Business * 1951-53
[Millions of dollars]
19 52
1951
Manufacturing
_ __
1953
19522
Jan.March
AprilJune
JulySept.
Jan.OctDec.2 March '2
11, 130
12, 452
2,742
3,264
2,934
3,512
3,067
Durable goods industries..
5,168
5,869
1,326
1,506
1,387
1,649
1,397
Primary iron and steel _
P r i m a r y nonferrous
metals
Fabricated metal products
Electrical machinery
and equipment
Machinery except electrical
1,304
1,681
356
468
386
471
405
277
502
109
122
141
131
109
421
350
87
89
80
93
91
359
389
80
96
92
121
105
675
763
176
189
175
223
220
736
810
171
189
205
245
Motor vehicles and
equipment
Transportation equipment excluding motor vehicles
Stone, clay and glass
products
Other durable goods <_ _
182
214
65
62
39
48
388
826
293
866
83
199
79
212
72
196
59
258
Nondurable goods industries
5,962
6,583
1,416
1,758
1,546
1,863
1,670
657
311
695
634
381
512
156
67
136
168
88
135
144
98
110
166
127
131
154
92
103
489
433
99
108
108
116
117
Food and kindred products
Beverages
Textile mill products,.
Paper and allied products
Chemicals and allied
products _ _
Petroleum and coal
products
Rubber products
Other 5n o n d u r a b l e
goods -
(3)
42
(3)
193
1,283
1,507
325
375
366
441
393
2,014
187
2,494
245
492
55
714
67
567
58
721
66
678
50
327
378
86
103
94
95
84
911
850
208
220
201
221
208
Railroad
1,474
1,398
362
381
290
365
322
Transportation, other than rail
1,492
1,394
361
378
310
345
320
Public utilities
3,855
3,961
847
957
970
1,187
996
Commercial and other 6
7,470
6,804
1,708
1,713
1,715
1,668
1,607
26,332
26, 860
6,228
6,913
6,420
7,298
6,519
Mining
Total
Seasonally Adjusted at Annual Rates
[Billions of dollars]
ManufacturingMining _ _
Railroad
Transportation, other than raiL
Public utilities
Commercial and other 6
Total
12.04
.93
1.57
1.47
4.14
7.27
12.80
.87
1.48
1.35
3.99
6.85
11.92
.79
1.20
1.25
3.70
6.87
13.40
.86
1.35
1.53
4.00
7.12
13.47
.95
1.32
1.24
4.37
7.33
27.43
27.37
25.72
28.27
28.68
1. Data exclude expenditures of agricultural business and outlays charged to current account.
2. Estimates for the fourth quarter of 1952 and the first quarter of 1953 are based on anticipated capital expenditures as reported by business in November 1952. The seasonally
adjusted data for these quarters are also adjusted when necessary for systematic tendencies
in anticipatory data.
3. Data not available separately but are included in totals.
4. Includes lumber products, furniture and fixtures, instruments, ordnance and miscellaneous manufactures.
5. Includes apparel and related products, tobacco, leather and leather products and printing and publishing.
6. Includes trade, service, finance, communication and construction.
Source: U. S. Department of Commerce, Office of Business Economics, and Securities and
Exchange Commission.
1952 capital spending to about $1.6 billion, a figure surpassed only in 1948. All major industries in the commercial
and other group spent less in 1952 than in the previous year—
although increased programs were under way in the latter
part of last year.
SURVEY OF CURRENT BUSINESS
20
Inventory Developments
The book value of inventories held by manufacturers,
wholesalers and retailers at the end of 1952 totaled almost
$73.5 billion—some $700 million more than at the beginning
of that year. Replacement costs declined throughout the
year, so that the increase in physical units was larger than
that indicated by book values. These inventory movements
were moderate when contrasted to the previous year when
the net change in nonfarm inventories amounted to $9.5
billion while book values rose even more.
The patterns of inventory changes within the past year,
however, were similar for manufacturing and trade with both
groups affected first by the dislocation of supply conditions
entailed in the steel production stoppages, and reacting later
in the year to the improvement in consumer demand.
The interplay of these forces produced, on balance, a
period of slight liquidation of business inventories (particularly in trade) during the first half of 1952 and accumulation
of both trade and manufacturing stocks in the second half.
Manufacturers'
inventories continue rise
As in 1951, the bulk of the business inventory increase
recorded for 1952 occurred in industrial stocks. Even
though the building of inventories for defense production
waned during 1952, at year-end many manufacturing companies were still adding materials for the fulfillment of defense contracts.
February 1953
During the first 6 months of the year book values of manufacturers 7 inventories declined by over $100 million. Inventories were drawn down in July, but with resumption of
steel production rose steadily throughout the remainder of
the }^ear. The entire $700 million advance during the
second half reflected a rise in quantity of goods on hand.
Durable goods inventories were generally expanded and
book values rose in the course of 1952 by $1.2 billion. On the
other hand, stocks held by nondurable goods producers declined by $600 million. The difference in behavior was associated with the importance of producer and defense, as distinguished from consumer directed commodities. The larger
advances were in such defense-related industries as transportation equipment, electrical machinery, and primary
metals together with chemicals, rubber and petroleum.
The largest reductions in stocks occurred in textiles, apparel,
and leather with lesser liquidation by furniture manufacturers.
Composition of inventories
The composition of the 1952 inventory increase in terms of
stages of fabrication evidenced a distinct improvement in
manufacturers' inventory position. Whereas finished goods
inventories accounted for nearly half of the 1951 rise, shipping stocks declined last year. The decrease centered in
nondurables; the aggregate of finished durable goods remained relatively unchanged over the year.
There was also a drop in the book value of purchased materials and parts, due in part to lower prices but more im-
Inventory growth during 1952 was moderate
following the sizable build-up in 1951
1952
ADJUSTED, AT ANNUAL RATES
1951
1952
SEASONALLY AOJtfSTED, AT ANNUAL RATES
U. 5. DEPARTMENT
OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
SURVEY OF CURRENT BUSINESS
February 1953
portantly to the cautious buying policies of consumer goods
producers (whose orders had begun to taper in early 1951)
and to the progress on defense production. Goods were being
channeled progressively faster to defense production lines
after the blueprint and tooling-up period of 1951.
Thus the rise in goods-in-process inventories was more
than twice as large as the aggregate book value increase in
manufacturers' inventories. Both durable- and non-durablegoods producers advanced this type of inventory but the
increase was proportionately much larger for the heavy
industries.
Stock-sales position
Manufacturers not only achieved a better balance of stocks
during 1952 but also improved their inventory-sales position.
Table 9.—Book Value of Business Inventories
[Billions of dollars]
Seasonally adjusted at, end of period
1950
Dec.
Total
Manufacturing
Wholesale trade
Retail trade
1952
1951
Mar.
June
Sept.
Dec.
Mar.
June
Sept. Dec. v
62.9
67.8
72.0
73.7
74.1
73.6
72.9
73.4
74.9
34.1
9.7
19.1
36.4
10.3
21.2
39.7
10.6
21.7
42.1
10.5
21.1
43.0
10.3
20.8
43.2
10.1
20.3
42.9
9.9
20.1
43.2
9.9
20.3
43.6
10.2
21.1
(f) Preliminary.
Source: U. S. Department of Commerce, Office of Business Economics.
^tock-sales ratios held relatively firm during the first three
quarters of the year and declined slightly in the last 3
months, in contrast to a consistent rise during 1951. For all
manufacturers, the ratio at the end of 1952 was 1.8 as compared with 2.1 at the beginning of the year.
Most major industries contributed to this reduction in the
ratio of inventories to sales. Exceptions were primary
21
metals where sales rose less than inventories, and petroleum
where both sales and inventories increased at the same rate.
Retail inventories expand late in 1952
Retail inventory developments in 1952 were characterized
by appreciable liquidation during the first half year and
accumulation in the latter half. Stocks declined $1 billion
from the first of the year to mid-summer. Additions to
stocks starting in September offset the earlier decline so that
for the year as a whole there was a slight increase in book
values. Retail sales, however, increased more so that stocksales ratios fell from their 1951 high.
The shift from disinvestment to investment in inventories
centered generally in durable-goods retail stores and particularly among motor vehicle dealers. The fall and early
winter rebuilding of durable-goods stocks, however, did not
quite equal the liquidation earlier in the year. Non-durablegoods retail inventories showed relatively small month-tomonth fluctuations—from April forward mostly in an upward direction. Nearly $500 million was added to soft-goods
stocks during 1952, primarily by apparel and department
stores.
Wholesale inventories stable
Wholesalers held the over-all volume of their stocks on
hand relatively unchanged from the end of 1951 to the end of
1952. Liquidation of stocks during the earlier months was
just about balanced by subsequent accumulation. Book
values declined almost $400 million in the first 6 months, but
despite continued declines in prices of materials during the
second half, book values moved up by $300 million.
In contrast to the situation at retail, there was little difference between durable- and non-durable-goods wholesalers
with respect to inventory developments during 1952. Here,
there was an increase in stocks of producers and defense
supplies and a lowering in consumers' goods. Stock-sales
ratios at the close of 1952 were little different from the start
of the year, but substantially below prewar rates.
New Construction
J_ OTAL new construction activity amounted to $32.3
billion in 1952, up 5 percent from 1951. Since unit construction costs were up by more than 4 percent, little increase
occurred in the physical volume of work put in place.
Developments during the year were highlighted by the
slowing rate of expansion in public defense construction,
declines in private defense-related industrial construction
after the first quarter, and increases in residential, commercial and other less essential projects as larger supplies
of critical materials became available, against a background
of generally buoyant demand.
Materials restrictions progressively eased
By the latter part of the first quarter of 1952, actual and
prospective increases in overall production of the basic
metals, combined with a tapering off of the rise in defense
and defense-related production, improved the materials
outlook significantly. Accordingly, the National Production
Authority approved many new projects in the commercial,
institutional and public nondefense areas, so that advance
planning could begin, with increased allotments to follow in
the third quarter. Self-authorization schedules were enlarged as the year progressed.
As the steel supply became more plentiful by December,
new orders were issued significantly increasing the amounts
of steel and copper that could be self-authorized for commercial and most other types of construction, beginning
January 1, 1953. The ban on recreatonal projects, in effect
since October 1950, was lifted, and self-authorization quotas
set for the first quarter 1953. Similar privileges were
granted for public road and highway construction later, on
January 21.
The Director of Defense Mobilization, in his eighth
quarterly report to the President, looked forward to further
SURVEY OF CURRENT BUSINESS
22
relaxation of construction controls during 1953, as increased
supplies of steel and aluminum for nonmilitary uses materialize.
The Commerce Department's index of production of
selected building materials was up 4 percent in the final
quarter of 1952 compared with a year earlier, although the
index for the year as a whole was a bit below 1951. Most of
the gain during the year was due to increased output of iron
and steel products for construction uses.
Construction costs up moderately
The 4 percent rise in unit construction costs from 1951 to
1952 was chiefly due to higher average hourly earnings of
Total Construction Activity
rises 6 percent during 1952 with the private
sector sharing in the gain
BILLIONS OF DOLLARS-RATIO SCALES
10
8
6
5
4
3
_
PRIVATE
2
7"
^PUBLIC
1950
1951
1952
4TH QUARTER TOTALS
Less essential private
types rise in 1952 as
restrictions ease .. .
and defense construction
continues upward,
but at a slower rate
4.0
4.0
3.0
3.0
2.0
2.0
^INDUSTRIAL a
PUBLIC UTILITY
1.0
.8
1.0
.8
.6
.5
.4
.3
.6
.5
COMMERCIAL
INSTITUTIONAL
/-^.PUBLIC
DEFENSE
.4
.3
.2
.2
1950
1951
1952
4TH QUARTER TOTALS
1950
1951
1952
4TH QUARTER TOTALS
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
53-13
construction labor, which rose by roughly 6 percent during
the year. Over the same period, employment eased slightly,
according to BLS reports covering contract construction,
while average hours worked per week increased around
2 percent.
February 1953
The prices of building materials, the other chief component
of unit construction cost indexes, were virtually stable during
1952, and slightly below 1951. Although some types of
materials, such as building paper and board, and insulation
materials, showed price increases, most were stable or even
declined moderately, as in the case of paints and paint
materials, and hardware.
Private Construction
Private outlays for residential building in nonfarm areas
amounted to more than $11 billion in 1952, up fractionally
from 1951. Increased outlays for additions and alterations to
existing structures accounted for the gain, while outlays for
new permanent units were unchanged. During the year,
however, residential construction advanced substantially,
rising about 11 percent from the fourth quarter 1951 to the
final quarter of 1952. Even after adjustment for price
increases, the advance was significant.
The rise in activity reflected the gradual, generally upward movement in numbers of new units started. From a
low point of little more than 0.9 million starts in mid-1951,
seasonally adjusted at an annual rate, private starts reached
1.0 million in the final quarter 1951, and almost 1.2 million
in the last quarter of 1952. The preliminary 1952 total of
1,074 thousand private starts exceeded the 1,020 thousand
recorded in 1951.
The starts data indicate that new permanent nonfarm
units have been added to the housing stock during the past
year or more at a rate considerably in excess of the increase
in nonfarm households, which amounted to 900,000 units
during the year ending last April, according to Census
Bureau surveys. As discussed in Markets after the Dejens>
Expansion, the difference may be accounted for by replacement building and/or additions to the inventory of vacant
units. Private surveys indicate, however, that vacancies
are still not a deterrent to new building in most urban areas,
and residential rents continued to advance throughout the
year.
The high level of residential building was bolstered in the
final months of 1952 by the relaxation in September of
Regulation X, as required by the 1952 amendments to the
Defense Production Act. Five percent downpayments are
still required on Federal Housing Administration and
Veterans Administration loans, however, and loan maturity
provisions are retained. Under the provisions of the
amended Act, the more stringent controls would be reimposed if the rate of housing starts remain above 1.2 million
for three consecutive months.
The volume of FHA home insurance written and VA home
loan guaranty declined significantly in 1952, while conventional mortgage recordings increased by a more than offsetting amount. The renewed upward tendency of long
term interest rates in the latter part of 1952 led to increasing
pressure from various sectors of the financial community for
upward revision of the 4 and 4^ percent VA and FHA
interest rates.
Around 40 percent of all private starts were still being
made under the FHA and VA loan programs in the latter
part of the year, with increasing applications and appraisal
requests foreshadowing a continued high volume for the time
being. This has involved increasing support from the
Federal National Mortgage Association for the VA loans
which are selling at a discount in the private secondary
mortgage market in some areas.
In the 220 localities now designated as critical defense
areas, over 98,000 dwelling units had been approved for
SURVEY OF CURRENT BUSINESS
February 1953
special FHA mortgage insurance aid by the end of the year
1952. Of this total, over 42,000 units had been started,
and almost 25,000 completed, mostly during the year 1952.
This program was accelerated by the appropriation of about
t>29 million for community facilities involving close to $13
million of Federal assistance in loans and grants, as well as
by supporting operations of FNMA.
23
Despite the fact that about $4.5 billion of military, naval,
and atomic energy construction has been put in place in
the Continental United States during the past two and onehalf years, a large amount of funds for these purposes still
remains unspent. Since June 1950, Congress has appropriated more than $10.5 billion for domestic public defense
construction. Thus, at the close of 1952, about $5.5 billion
was available to finance such construction in the future.
Divergent trends in other private types
Although industrial construction was up by almost 10
percent from 1951 to 1952, the trend during 1952 was
gradually downward. This reflected chiefly the slowing
rate of expansion of defense production capacity, as discussed
more fully in the section of business plant and equipment
outlays. Public utility outlays continued up, but at a
slower rate than in the preceding year.
On the other hand, whereas commercial construction was
down by one-fifth from 1951 to 1952, there was a definite
upswing beginning about mid-year as controls were eased.
The demand situation was buoyant, reflecting deferral of
projects due to restrictions imposed after Korea, against the
background of increasing needs as population continued to
increase at a rapid rate and residential construction remained high.
Institutional construction was likewise below the 1951
total in 1952, but showed a small increase between the
fourth quarters. The largest gains during the year were
shown by social and recreational, educational and religious
construction, with hospital and miscellaneous institutional
types declining.
The very sharp increase in nonresidential contract awards
in the latter part of 1952, as reported by the Dodge Corporation, coupled with increased allocations of materials and the
lifting of the prohibition on recreational construction as of
January 1, 1953, underlined the bright prospects for commercial and institutional construction as the new year got
under way.
Farm construction, on the other hand, declined by around
6 percent from 1951 to 1952. This reflected the decline
from earlier peaks in the price and income situation of farmers, as well as the fact that most of the accumulated backlog
of construction projects appeared to have been exhausted
by the comparatively large volume of farm building in the
postwar period.
New Public Construction
More than $10% billion of public new construction was
put in place in 1952, up by one-eighth from the previous
year. Although there was a leveling off during the year,
this rate in terms of either current or constant dollars was
the highest on record with the exception of the early years
of World War II. Further, public construction advanced
to almost one-third of the total construction activity from
an average of 25 percent during the period 1946-51.
Defense construction up sharply
For the past two years, public construction directly related
to the defense effort has been one of the more dynamic
elements in the rise in total construction activity. Construction outlays for the military establishment and the
Atomic Energy Commission amounted to $2.5 billion in
1952, up by almost $1 billion from the total for the previous
year. The rate of increase between the fourth quarters of
1951 and 1952 was much less striking, however.
Nondefense
activity stable in 1952
Public new construction for nondefense purposes was put
in place in 1952 at an annual rate only slightly in excess of
that for 1951. When adjusted for the rise in construction
costs which occurred during the year, the 1952 rate was
virtually unchanged from that for the previous year and
still below that for the record year 1939. This relative
stability in nondefense public construction outlays since 1950
may be traced to a combination of factors including rising
construction costs, fiscal difficulties of many State and local
governments, and shortages of specific fabricated metal
products involving Federal Government regulations.
Although material shortages exercised a significant restricting influence upon nondefense public construction in 1951, this
factor was of lesser consequence with respect to the level of
public works activity in 1952. While it is true that some
delays were experienced due to difficulties in obtaining needed
metal products, it appears that indicated metal requirements
for public construction were substantially above NPA
allotments only for highway, social and recreational facilities. In the case of highway construction, NPA allotments
in 1952 amounted to less than two-thirds of the total steel
requested. Thus, it is likely that outlays for roads and
streets last year might have been somewhat larger had steel
supplies been more ample. While shortages of certain steel
products may temporarily delay particular highway projects,
material shortages are not expected to be an important
limiting factor this year, as recent liberalization of selfauthorization schedules indicate.
With respect to particular types of nondefense public
works, only highway, school, and residential construction
showed increases in 1952. New highway construction, which
had been put in place in 1951 at about the same rate as in
1950, rose by one-eighth last year to $2.7 billion, accounting
for the bulk of the rise in nondefense public construction
between 1951 and 1952. It is of interest to note that construction outlays for toll highway facilities which have been
increasing sharply in the postwar period, were reduced somewhat in 1952. That this lull is only temporary is evidenced
by the sale of more than $700 million of toll road and bridge
bonds during the past year.
An estimated $1.6 billion for public educational facilities
were put in place last year, a record amount even if adjusted
for price changes. Public elementary school enrollments
have continued to increase, however, and were especially
heavy in the fall of 1952.
As a result of tightened statutory limitations on the start
of new Federally subsidized dwelling units, public housing
starts numbered 57,000 in 1952 as compared with more than
71,000 in the previous year. The 1952 rate of activity increased one-tenth above that for the previous year, however,
since there was a large carry-over of work in progress on 1951
starts and on the 1952 starts which were concentrated in the
first half of the year. The reduced number of starts authorized by Congress for fiscal year 1953 will have a more important effect upon activity in the current calendar year.
24
SURVEY QF CURRENT BUSINESS
February 1053
International Trade
Fc
OK 1952 as a whole the value of United States trade
with the rest of the world was slightly below the $26 billion
total of 1951. Exports again amounted to $15 billion while
imports fell $300 million short of the $11 billion peak reached
during the previous year.
During the course of 1952, significant changes developed
in our export trade, and important though less pronounced
alterations occurred in the case of imports. American exporters noted a sharply declining foreign demand for their
products, which was only in part due to tightened import and
exchange controls imposed by some countries to prevent further increases in foreign borrowing or to reduce imports in
line with available dollar incomes. On the other hand,
domestic importers, that had curtailed their purchases fairly
early in 1951 as a result of improved supplies and anticipation of lower prices, increased their buying of many items
after prices had become more in line with those of other
commodities. The total volume of goods imported was
The more than seasonal decline in ndnmilifary EXPORTS
during 1952 involved
and few coyfitrtes
few commodities * * *
MILLIONS OF DOLLARS
&ISLL10NS QF DOLLARS
ALL OTHER
^COUNTRIES
ALL OTHER
COMMODITIES
500
500
COTTON, GRAINS, TOBACCO,
TEXTILES, OVERSEAS FUEL,
CHEMICALS, AUTOS
STERLING AREA, BRAZIL,
ARGENTINA, BELGIUM, FRANCE,
ITALY, GERMANY, PHILIPPINES
I I I ! I I I I I I I I I I I I i I I I I I 1 I I M II
II f II
M \ I t I 1I II I
I I I I I I I ! 1 I I
IMPORTS recovered after the drop in 1951 except for,,.
a few commodities . * .
and from few countries
uooo
t,ooo
ALL OTHER
^COMMODITIES
WOOL, RUBBER, COCOA, HIDES B
FURS, CATTLE a MEAT, COPRA,
WOODPULP, ALCOHOL, STEEL
500
500
STERLING AREA (EXCL. U, K.), BRAZIL,
ARGENTINA, URUGUAY, BELGIUM,
FRANCE, PHILIPPINES
nil I I I I
1950
I M M I I i I t I
I I I I I I I I I II
195!
1958
.OFF/CET OF MUSlHESS
51950
1951
1952
SURVEY OF CUREENT BUSINESS
February 1953
actually as great as in 1951, although declining prices reduced
the total value.
Export decline reduced trade surplus
By far the most notable development in international
trade of the United States was the decline in exports which
began in June. As a result the export surplus excluding
military-aid shipments was reduced to an annual rate of $1.5
billion in the 6 months ended November as compared to
$4.5 billion in the previous half-year (see chart). The total
trade surplus fell somewhat less sharply as rising shipments
under the military-aid program offset in part the lower
exports of other goods.
25
greater than during the 1951-52 crop year. European
countries also increased their production of coal and hydroelectric power and their use of petroleum. Favored with
mild weather, they were able to reduce their coal purchases
here. The large gap in petroleum supplies resulting from
the loss of Iranian output was filled by expanding refinery
Declining exports reduce
trade surplus
Export drop not general
The large reduction in United States exports during the
latter half of 1952 did not reflect a general decline in world
demand for American goods. At least 70 percent of the $3.2
billion (at an annual rate) drop from the 6-month's period
ending in May to the subsequent half-year ending in November can be accounted for by lower shpments of a few major
items to a small number of countries.
Of the declining export commodities, raw cotton was by
far the most important. In the same manner, no other
single commodity import fell to as great an extent as raw
wool. Much of the contraction in trade in both fibers can
be traced to the lowered activity of the textile industry,
both here and abroad—particularly in Europe. Weaknesses in export outlets as well as in domestic demands
depressed the industry in major producing countries. At
their low point in July 1952 United States exports of textile
products were only one-half the high rate recorded in March
1951.
The ability of the textile industry to meet at least part of
its reduced requirements for raw materials from stocks accumulated during the previous year also explains in part the
sharp reduction during 1952 in exports of raw cotton and
imports of raw wool. Stocks of cotton in some consuming
countries had become excessive relative to reduced demands.
Our inventories of wool, bolstered by heavy post-Korean
imports, were likewise drawn upon to meet currently lower
requirements.
As a result of the lower demands, stocks of both cotton and
wool have accumulated in several major producing countries.
Greater production outside the United States has also augmented world supplies of raw cotton. Lower prices, especially for wool, explain in part the large value declines
pictured in the chart.
The impressive rise last fall in domestic and foreign textile
manufacturing should foreshadow at least some improvement
in the cotton and wool trades. Other favorable signs are the
recent recovery in wool prices and the gradual increase in
exports of textile products during the latter part of 1952.
EXPORTS, EXCL.
MILITARY AID
U. S. DEPARTMENT
OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
capacity in Europe and by increasing the flow of crude oil
in Middle Eastern countries other than Iran.
Exports to Sterling Area and Europe
The pronounced rise during 1951 in total nonmilitary exports to Continental Europe, particularly to Belgium, France,
Italy, and Germany, and the subsequent decline in 1952,
closely paralleled the movement of the four commodities
discussed above—raw cotton, grains, coal, and petroleum
products. An even greater rise and fall in purchases of
sterling area countries, notably the United Kingdom and
India, can be explained to a large extent by changing demands for cotton and orain.
Grain and fuel also prominent in export drop
Exchange restrictions lowered exports
Reduced shipments of grain, coal, and petroleum products
accounted for much of the remaining drop in exports. In
1951 and in the first part of the past year foreign countries,
unable to meet increased requirements from domestic sources
or to obtain even normal imports from certain traditional
foreign suppliers, made extraordinary purchases in the United
States.
The picture changed greatly during 1952. India's need
for emergency grain imports disappeared as domestic production improved and stocks became more ample. Record
supplies of grain became available for export from Canada;
and harvests in North Africa and in Western Europe were
Shipments to the sterling area were further depressed by
the tighter import and exchange controls imposed in early
1952.
United States tobacco exports to the United Kingdom were
among those most affected by these new controls. Shipments during the second half of 1952 were only one-fifth as
large as in the similar period of 1951. However, since much
of the reduction in foreign buying apparently occurred because it was possible to utilize stocks previously imported,
and since other supplying countries have not increased production to any large extent, tobacco exports may recover
relatively faster than shipments of other basic agricultural
238593°—53
4
26
SURVEY OF CURRENT BUSINESS
products such as grains and cotton. Export markets for
some other American goods, particularly in the Union of
South Africa and Australia, were also adversely affected by
the tighter import controls.
Brazil, which had been purchasing goods beyond its ability
to pay, imposed tighter import restrictions early in 1952 to
prevent a further accumulation of indebtedness and to begin
repayment. At their peak in December 1951, exports to
Brazil, which included some extraordinary grain shipments
but consisted mainly of automobiles, machinery, chemicals,
and other manufactured goods amounted to $970 million at
an annual rate; in October and November 1952, such shipments had declined to an annual rate of about $300 million.
Also noteworthy was the drop in sales to Argentina which,
faced with an adverse balance-of-payments position, had
tightened its exchange restrictions earlier than Brazil; the
resulting decline in United States exports had begun in the
fall of 1951.
Machinery, steel exports continue high
Foreign demands for American goods otherwise were
fairly well maintained throughout the year. Shipments of
most t}^pes of machinery, dollarwise the largest United States
export item, were even further increased as compared to 1951.
The larger exports represented in part deliveries on orders
placed during the previous year or earlier. Also, the lag
between receipts of new orders and deliveries became narrower as the pressure on American producers grew less intense.
More than half of the machinery exported during 1952 went
to Western Hemisphere countries, in most of which American
companies had undertaken large-scale investment programs
and local Government and private industries were implementing other sizeable industrialization and development projects.
Canada, Venezuela, Mexico, and Cuba stand out as particularly large markets.
A number of countries outside the Western Hemisphere,
also having embarked on programs for increasing national
production, preferred to maintain or increase their imports of
capital equipment even though in some cases other purchases
from the United States had to be curtailed.
Demands for American steel likewise continued high and,
as domestic output increased, were more fully satisfied. Except for the period affected by the strike, steel exports moved
upward during the year. This was in contrast to our own
reduced need for steel imports from European suppliers,
particularly Belgium and France. Purchases from these
countries started an almost continuous decline as early as the
middle of 1951, rising in the last part of 1952 apparently only
as a result of the strike.
Changes in imports
The dip in imports which occurred fairly early in 1951 also
involved largely a few commodities originating in a relatively
small number of countries (see chart). Some of these countries were the same ones which accounted for the decline in
United States exports.
During 1952, dollar earnings of the outer sterling countries
continued to be lower than during the first half of 1951, even
though the United States resumed its buying of tin early in
the year. The decline in wool prices from the abnormal highs
of early 1951 was not halted until the middle of 1952, and, as
discussed previously, the volume imported was substantially
smaller than in the previous year. Another sharp break in
prices for natural rubber occurred early in 1952, reflecting
mainly the increased competition offered by the synthetic
product and the near attainment of the Government stockpiling goal. Earnings from cocoa also declined as buyers
February 1953
liquidated inventories and reduced purchases because of the
small crop and resulting high prices.
The reduction in demand for raw wool lowered Argentine
and Uruguayan dollar earnings. Brazil likewise received
fewer dollars in 1951 owing to lower shipments of cocoa, hides,
and oilseeds. However, the decline in imports from Brazil
was far smaller than the reduction in exports to Brazil.
These imports and the few others shown separately on the
chart accounted for nearly 40 percent of total imports during
the first half of 1951. The reduced purchases of these items
since that time kept total import payments below their former peak even though imports of "other commodities" as
well as imports from " other countries" (see chart) increased
substantially during 1952.
Fewer adjustments in 1953 foreseen
Major fluctuations in our international trade, such as those
which characterized the past three years, seem unlikely to
occur during the year ahead. Basic supply scarcities, which
explain most of the wide swings in both exports and imports,
have largely disappeared as a result of increased production
in the United States and the rest of the world and, in some
cases, reduced consumption. Expansion in Government and
private inventories of many commodities has also subsided.
However, as a result of the continued high demands resulting
from high production and incomes, prices of most basic items
moving in world trade have become fairly stable.
With a continuing high rate of domestic business activity
in prospect, it appears that the demand for most imported
goods will continue to be at least as high as it is currently.
Hence foreign countries should be able to earn sufficient
dollars to maintain their existing purchases from the United
States at or near current rates.
Better balanced trade with most countries
An examination of our changed trading position vis-a-vis
various major areas and countries also supports the conclusion that foreign expenditures for American exports have
become better aligned with current and prospective dollar
incomes.
In the last half of 1952 Western Europe's trade deficit
with this country (excluding military aid) had declined to
less than $1 billion at an annual rate as compared with nearly
$2.5 billion during the last six months of 1951. The outer
sterling area also improved its financial position, having
developed a surplus with the United States early in 1952.
Japan's continued trade deficit- was more than offset by
dollar earnings from other sources, mainly heavy United
States military expenditures.
Commerce with Canada, our largest trading partner,
became even more brisk than in 1951. Exports to Canada
increased, mainly as a result of the elimination of credit
restrictions and the high rate of production and investments
in that country. Imports from Canada, which had been
unaffected by the 1951 recession in import buying, continued
a moderate rise in 1952, reflecting not only the increase in
newsprint prices, but also greater purchases of metals and
some other Canadian products. The considerably higher
export surplus with Canada as compared with 1951 was
facilitated by Canada's greater dollar receipts from transactions with countries other than the United States.
A number of other Western Hemisphere countries were
also able to increase their dollar earnings during 1952, mainly
by greater sales of nonferrous metals. Hence, the reductions
which these countries made in their purchases here were
sufficient to bring their trade with the United States near
balance.
SURVEY OF CURRENT BUSINESS
February 1053
27
Financing Business Investment
Ti
HE past year featured a continued heavy demand for
long-term funds both by business to finance expansion of
fixed capital and by consumers to finance housing purchases.
Consumers also sharply expanded short-term borrowing to
buy automobiles and other durable consumer goods. Business short-term needs for additional working capital funds,
on the other hand, were considerably reduced from the high
requirements in 1951. As overall inflationary pressures
subsided, the direct credit controls introduced earlier in the
defense build-up were lifted during the year.
Terms of equity financing improved substantially over the
year with the yield on equity securities steadily dropping as
a buoyant market carried stock prices to the highest level
since 1929. The cost of borrowed long-term funds continued
relatively low in 1952 with the supply of capital for business
maintained in generally adequate volume. On the other
Fixed capital programs expanded
further in 1952, but inventory
needs were reduced •. •
50
Financing Corporate Requirements
USES OF CORPORATE FUNDS
40 —
a:
<
j
o 30 —
a
OTHER CURRENT
ASSETS
INVENTORIES
a.
o
(O
z 20 —
o
DO
I0
PLANT AND
EQUIPMENT
—
I960
1951
1952
resulting in less emphasis on short-term
financing, while long-term funds
were raised in record volume
50
SOURCES OF CORPORATE FUNDS
40 —
The new capital requirements of corporate business in 1952
amounted to about $31 billion, $9 billion less than the record
sums required in 1950 and 1951 despite outlays for fixed
capital which reached a new high in 1952. The major difference in the pattern of financial requirements in 1952 as
compared with the preceding two years was the sharp reduction in additions to working capital, with the result that
these requirements, which accounted for almost one half of
total needs in 1951, accounted for one quarter of the smaller
total in 1952.
The book value of corporate inventories in 1952 increased
less than $1 billion, in contrast to expansions of $8 billion
and $10 billion respectively in 1950 and 1951 (table 10).
The small rise for 1952 as a whole reflected renewed accumulation of corporate inventories in the latter part of the
year which more than offset mild inventory liquidation in
the earlier months. While the increase in corporate receivables was about the same as in 1951, there was a smaller
growth in receivables from business offset by a more rapid
expansion of credit to consumers. Mainly as a result of
increased consumer borrowing from business, net recehables (receivables less payables) rose more rapidly in 1952
than in the previous year.
Short-run financing pressure eased
SHORT-TERM
FINANCING
0 3 0 -
<fl
Z
hand, there was a further rise in short-term rates, particularly
in the latter part of the year as the seasonal upturn of business
demand for bank loans was superimposed on increased
consumer borrowing.
Both business and consumers improved their liquidity
positions over the year. While additions of liquid resources
by business concerns were of moderate proportions, individuals continued to accumulate liquid assets at a pace exceeding
even the high rate of the preceding year. On balance at
year-end, the financial positions of both consumers and
business appeared generally adequate for the maintenance
of a high rate of business activity.
It may be noted that for the year as a whole reduced
business requirements for working capital, more particularly
inventories, served to offset much of the expansionary pressure stemming from the government sector of the economy.
Under the impact of the rise in Federal defense expenditures
in 1952, a moderate deficit on government income and
product accounts replaced the substantial surplus of 1951.
The following discussion reviews the year's developments
in financing the capital requirements of corporate business
and of individuals.
LONG-TERM
EXTERNAL
FINANCING
o
<£ n
O —
O
.J
RETAINED
EARNINGS AND
DEPRECIATION
® 10I960
1951
1952
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
53-14
Reduced working capital requirements were reflected in
the substantially moderated additions to current liabilities.
The sharp rise in short-term bank loans to business which
began in mid-1950 and continued with some abatement to
the later part of 1951 wais moderated still more this past
year. Corporate bank borrowing underwent a net expansion of about $1^ billion in contrast to a rise of over $4 billion in 1951. The 1952 bank-loan expansion was due largely
to defense-related demand for funds, with little net change
apparent in other sectors. Partly as a result of this easing
pressure for short-term funds the voluntary credit restraint
SUEVEY OF CURRENT BUSINESS
28
program initiated under the authority of the Defense Production Act was suspended in May of last year.
With book profits down somewhat. Federal tax accruals
in 1952 actually fell short of tax payments whereas the
increase in profits tax liabilities in 1951 provided a sizable
volume of temporary investment funds in that year.
Long-term financing increased
In financing higher fixed capital requirements corporations
placed greater relative emphasis on the capital markets as a
source of funds in 1952 but continued, as in the past, to
[Billions of dollars]
1951
1952
2
Uses
Plant and equipment-Increase in current assets — total
_ _ _ _ _ _ _
Inventories (book value)
Receivables
Cash, deposits and U. S. Government securities
Other current assets
Sources
Total uses
3
Retained profits
Depreciation _ _
Net new issues —total
Stocks
Bonds__
__
Increase in other liabilities
Mortgage loans _ _ _
_ _ _ _ _
Bank loans
Trade payables
Federal income tax liabilities
Other current liabilities
__
Total sources
Discrepancy (uses less sources) _ _
_ _
_ __ _
_
16.9
23.1
8.0
9 9
4.9
.3
22.2
18.1
10.2
4 6
2.9
.4
23.0
8.0
10
4 5
2.0
.5
40.0
40.3
31.0
11.6
7.8
37
1 7
2 0
9 0
8.8
6 4
2 8
3 6
18.0
.9
1 5
6.7
7.4
15
15.8
.9
4 2
4 3
5.6
41.1
40 0
— 1.1
.3
7
10
8
2
5
0
5
0
5
5
5.5
10
1 5
2 5
— 1.0
15
The overall financial position of corporations at year-end
appeared to be generally satisfactory. Liquidity showed
some improvement over the year, reversing the tendency
which had been apparent since 1950. The continued availability of a large volume of funds retained from operations
Table 11.—Relation of Corporate Bond and Stock Yields
[Percent per annum]
Common stock
Bond yield
Average for period:
1924-26
1929
1940-41
._
1948
1950
1951
1952
- -
_
_
_
-.
_ _ _
. _
5.5
5.2
3.5
3.1
2.9
3.1
3.2
Dividend
yield
Earningsprice ratio
5.5
3.5
5.7
5.7
6.4
6.2
5.6
10.5
6.2
8.4
12.6
12.7
9.4
7.9
31 0
1. Excluding banks and insurance companies.
2. Preliminary and based on incomplete data. Estimates have been rounded to nearest
$0.5 billion.
3. Including depletion.
Source: U. S. Department of Commerce based on Securities and Exchange Commission
and other financial data.
depend on internal funds for the major share of financing
needs.
With 1952 book profits after taxes reduced about $1% billion from 1951 and dividends slightly increased, retained
earnings of nonfinancial corporations amounted to $7 billion
in 1952, roughly $2 billion less than in 1951. However,
there was a largely offsetting expansion of depreciation and
amortization allowances, with the result that the volume of
capital expansion financed from internal equity funds—retained earnings and depreciation—totaled $17$ billion, approximately the same as in 1951.
Almost $8 billion of net new money was raised through
the issue of bonds and stocks in 1952. This was $1% billion
more than in 1951 and far above any other year on record.
While net stock financing in 1952 was about the same as in
1951, amounting to about $2}£ billion, new money flowing to
corporations from the sale of bonds rose to $5}^ billion.
Throughout most of the postwar period, public-utility companies were the dominant users of the new-securities markets. Since the start of the present defense build-up, however, manufacturing corporations have stepped up their
security sales markedly. These two industrial groups have
accounted for by far the preponderant part of total net new
money—both bonds and stocks—raised in the recent period.
The flotation of this huge volume of new securities was
achieved on terms about as satisfactory as in the preceding
year. Long-term interest rates were relatively steady during 1952 and only fractionally higher than in the preceding
year. The most striking development in financing terms
followed from the continued upward movement of stock
prices. With corporate earnings somewhat lower and dividends only fractionally higher, the ratios of average earnings and dividends to stock prices in 1952 were down 15 and
10 percent, respectively, from 1951. As may be seen in
table 11, these measures of the cost of equity financing \vere
not only substantially below the postwar peak but compared
rather favorably with prewar periods of high economic activity, with the exception of 1929. Interest costs were, however, still substantially below the cost of equity funds and this
was no doubt an important consideration in the continued
heavy reliance on debt financing.
Liquidity tends upward
Table 10.—Sources and Uses of Corporate Funds, 1950—52 1
1950
February 1953
Source: Bond yields, Moody's Investors Service; dividend yields and earnings-price ratio,
U. S. Department of Commerce, based on Cowles Commission Monograph No. 3 and similar
data from Moody's published indexes of stock prices, dividends, and earnings.
served to offset the impact of rapid debt expansion on the
capital structure of corporate industry. While interest payments were higher as a result of the increase in debt, their
charges when measured against the funds available for payment were still well below any prewar ration.
Financial Position of Individuals
With personal income rising somewhat more than expenditures, savings of individuals rose from about $17 billion in
1951 to $19 billion last year. In each of the past two years
these savings have been predominantly in highly liquid
form (table 12). Additions to cash and deposits in 1952
totaled $9^ billion, $1^ billion more than in 1951, and an
amount far above any previous peacetime year other than
1946 when consumer spending was still affected by shortages
of goods.
Net security purchases were likewise made in record
volume as about $4/2 billion, largely corporate bonds and
stocks, were added to individuals' holdings. Together with
increases in equity in private insurance, these three forms of
liquid savings amounted to over $18 billion in 1952, $2}£
billion more than in 1951, and 75 percent more than the
volume of such savings in 1950. If account is taken only of
the most liquid assets—cash and U. S. Government securities—individual holdings at the end of the year were well in
excess of prewar ratios of these assets to income.
As may be seen from table 12 consumers also increased
their indebtedness very substantially in 1952. The rise in
short-term borrowing, mainly to finance purchases of durable
consumer goods, was in sharp contrast to the situation in
1951 when little net expansion took place. To some extent,
the added borrowing last year, as well as the relative stability
in 1951 reflected the changed conditions with respect to credit
SURVEY OF CURRENT BUSINESS
February 1953
controls. These controls, combined with the let-up in consumer spending following the post-Korean buying waves,
served to keep credit purchases in check in 1951. Consumer
credit Regulation W was, however, lifted early in 1952, and
the subsequent easing of credit terms facilitated the rapid
credit expansion in the latter part of the year.
29
standards. By the end of 1952 individuals' accumulated
liquid resources were still high in historical perspective.
Holdings of cash, deposits and United States securities curTable 12.—Increases in Selected Liquid Asset Holdings and
Indebtedness of Individuals, 1950—52
[Billions of dollars]
Consumer debt rises
With housing purchases continuing at near record rates,
consumers again in 1952 added sizably to their long-term
mortgage debt. The rise in outstanding indebtedness has
been at a decreasing rate in recent years due largely to a
steady rise in repayments—an expected development in view
of the sharp upward trend of mortgage borrowing over the
whole postwar period.
While consumer borrowing has been steadily expanded
over the postwar period, it will be remembered that through
the war period net liquidation of debt occurred at a time when
consumer incomes and savings were rising sharply. With
huge wartime accumulations of liquid resources, consumers
were in an extremely favorable financial position at the wear's
end and thus were able to both expand borrowing and reduce
the acquisition of liquid assets while maintaining debt positions and liquidity which remained favorable by prewar
Selected liquid assets:
Currencv and deposits
Securities
Equity in private insurance
Total
Consumer indebtedness
Short-term
Mortgage _ _ _ _
_
.. _ _
Total
1952
1951
1950
5.7
.8
3.9
7.9
3.7
4.2
9.5
4.4
4.5
10.4
15.8
18.4
3.2
7.0
.4
6.4
3.2
5.3
10.2
6.8
8.5
Source: Securities and Exchange Commission except for 1952 which was estimated by
U. S. Department of Commerce, Office of Business Economics.
rently represent over 100 percent of annual consumer expenditures compared with a proportion of roughly two-thirds
in the late twenties. However, the continued rise in debt in
1952 appears to have brought consumer debt outstanding to
about the same proportion of income as in the earlier period.
The Business Population
JL HE Nation's business population increased moderately
in 1952, continuing the rise which has characterized every
postwar year except 1949. Since the wartime low in 1944,
the business population has grown by 1 million and
currently comprises over 4 million concerns.
The overall rise has not been large since the Korean
invasion, and has not kept pace with the expansion in total
business volume as it did in earlier postwar years. This is
not surprising in view of the shifts in use of resources and
manpower that have been necessary in the defense expansion
period.
The impact of post-Korean developments can also be
seen in the changing industrial distribution of concerns.
Most notable were the increases in such defense-related
industries as durable goods manufacturing, transportation
and construction. Some reductions, on the other hand,
occurred in retail trade and in nondurable goods manufacturing (see table 13).
The industrial changes within the business population
in 1952 were similar to those in 1951 except for manufacturing
as a whole. Here there was a slight loss in the number of
concerns last year following a slight gain in 1951. The
relative changes since 1950 are shown by major industry
division in the top section of the chart.
Construction and transportation continue up
During 1952, contract construction and transportation
account for practically the entire increase in the business
population. The persistent and strong demand for construction was reflected in a 6 percent increase over the
previous year in the average number of construction firms.
Transportation followed with a gain of 5 percent, mostly
increases in small trucking and warehousing concerns.
Contract construction—perhaps the most volatile of the
major industry divisions—now contains nearly twice as
Table 13.—Annual Average Number of Firms in Operation, and Percent Change, by Major Industry Divisions, Selected Years 1940—52
Average Number of Firms in Operation (thousands)
1940
1943
1948
1949
1950
1951
Percent Change
1952 i
1940-52
1943-52
1948-49
1949-50
1950-51
1951-52
|
All industries
3, 382. 8I
j 3,382.8
Mining and quarrying
Contract construction
Manufacturing
Durable
Nondurable
Transportation, communication and other public
utilities
Wholesale trade
Retail trade
Finance, insurance and real estate
Service industries
1. Preliminary.
3, 964. 8
3, 045. 1
3, 990. 7
3, 980. 4
4, 008. 9
4, 043. 5
19.5
32.8
-0.6
0.4
0.7
0.9
37.3
199.2
226. 7
86.0
140.7
32.3
157. 5
238.8
97.5
141.3
35.2
321.0
329.6
156. 4
173.2
34.6
335.0
312.0
145.8
166.2
34.2
358. 0
303.0
142. 1
160. 9
34.2
375.4
305. 9
150. 4
155. 5
34.4
396. 3
304. 1
154. 5
149. 6
-7.8
98.9
34.1
79.7
6.3
6.5
151.6
27.3
58.5
5.9
-1.7
4.4
-5.3
-6.8
-4.0
-1.2
6.9
-2.9
-2.5
-3.2
0
4.9
1.0
5.8
-3.4
.6
5.6
—.6
2.7
-3.8
148. 0
146.8
1, 596. 0
310.5
718.3
121.0
141.5
1, 400. 3
301.2
652.5
188.3
202.7
1, 709. 6
346.8
857.4
189.3
203.0
1, 693. 2
344.7
853.0
194.2
204.0
1, 685. 2
347 2
854.5
204.4
207.1
1, 672. 3
352. 1
857.5
214.7
210.9
1, 662. 9
357. 0
863. 5
45.1
43.7
4.2
15.0
20.2
77.4
49.0
18.8
18.5
32.3
.5
.1
-1.0
-.6
-.5
2.6
.5
-.5
.7
.2
5.3
1.5
-.8
1.4
.4
5.0
1.8
-.6
1.4
.7
NOTE: Data may not necessarily add to total due to rounding.
Source: U. S. Department of Commerce, Office of Business Economics.
SURVEY OF CURRENT BUSINESS
30
The BUSINESS POPULATION
has shown little change in Korean period
Since 1950 the strength in construction and
transportation has balanced losses in retail trade
PERCENT CHANGE, 1950 - 52
-4
0
+4
+8
February 1953
producers of nondurable goods. Manufacturing was the
only major industry division in which the number of operating
firms increased during World War II as a result of sharp
increases among durable-goods producers. The manufacturing
population reached a postwar peak in 1947—about
1 3Tear earlier than the other major industry divisions—and
declined until 1950.
In 1952, as in the previous year, moderate increases in
wholesale trade, finance and service firms have balanced a
small relative decrease in the number of retail businesses.
Recent regional shifts
ALL INDUSTRIES
As the lower section of the chart shows, all regions of the
United States with the exception of the Far West and Northwest shared in the post-Korean rise of about 50,000 firms.
The small decline in the business population in the Far West
followed a period of rapid growth, from the low during
World War II to 1948, in which this region led the national
advance of almost 1 million firms.
The Southeast and Southwest have continued a betterthan-average growth since 1944. When the present business population is compared with the number of firms in
operation in 1944, these two regions show the greatest
gains, with the Far West appearing in third place. To a
large extent the more favorable showing in the Southern
areas in the past 2 years is attributable to growth in
retail trade—in contrast to the decline in the number of these
firms in all other regions except the Middle East.
Among the major industry divisions, only manufacturing
shows a pattern of recent regional changes strikingly different
from that depicted in the chart for all industries combined.
Manufacturing firms in the Far West increased
more than
in any other region (7 percent). NewT England and the
Southeast followed with 5 percent each. The number o,
manufacturers declined moderately in all other regions except
the Middle East where the number remained unchanged.
CONTRACT CONST.
TRANSPORTATION, ETC.
WHOLESALE TRADE
FINANCE, ETC.
SERVICE INDUSTRIES
MINING a QUARRYING
MANUFACTURING
RETAIL TRADE
while gains in the South have off-set
minor losses in the West
UNITED STATES
Business turnover
SOUTHEAST
SOUTHWEST
MIDDLE EAST
CENTRAL
NEW ENGLAND
FAR WEST
NORTHWEST
U-. 5. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
53-12
many firms as in 1940 and more than 2% times as many as
in 1943.
The total number of manufacturers is currently about the
same as in mid-1950. The rise in the durable-goods sector
has been largely offset by a reduction in the number of
In 1952 the number of new businesses established was
about 5 percent greater than in the previous year, business
discontinuances were 4 percent lower, and there was practically no change in the number or rate at which firms in
operation changed hands.
More new firms were formed in 1952 than in any yea
since 1947. New firm formation reached a peak in the
reconversion year of 1946 when more than 600,000 new
concerns entered the business population. The trend in
number of new businesses was downward until 1949, after
which each year has seen some increase in the number of
newly established concerns. However, about one-third fewer
firms were formed in 1952 than in the record year of 1946.
The number of discontinued businesses has varied only
moderately each year since 1948 when the readjustment of
the business population from the dislocations of World
War II had been virtually completed. About 350,000
concerns discontinued operations during 1952, while ownership of about 400,000 other firms changed hands.
Employment and Labor Conditions
G
CONTINUED expansion of output and further growth
of half a million in the average size of the armed forces resulted
in a rise in total employment and a reduction of unemployment in 1952. Civilian employment averaged 61.3 millions.
The increase of 0.3 million from the 1951 average was covered
by the decrease of 0.2 million in unemployment and the 0.1
million expansion in the civilian labor force.
Unemployment averaged 2.7 percent of the civilian labor
force. Except for the height of wartime activity both absolutely and relatively fewer persons were out of work and
SURVEY OF CURRENT BUSINESS
February 1953
looking for a job than in any year since compilation of these
data began in 1940.
1952 average
Civilian noninstitutional population:
14 years of age and over.
Not in labor force
Civilian labor force, total
Unemployed ___
Employed
Agriculture
Noiiagriculture
_
_
Change from
1951
(thousands)
109, 676
700
46, 710
618
62, 966
82
1,673
—206
61,293
288
6, 805
- 249
54, 488
537
The portion of the civilian noninstitutional population of
working age in the labor force averaged 57.4 percent during
the year, down 0.3 percent from the 1950 and 1951 figures.
This is a high rate of labor force participation although below
that in years of full war activity. Most of the 700,000
increase—two-thirds of them women—during the year in
the civilian population of working age did not, however,
enter the labor force. Instead larger proportions of young
civilians, both men and women remained in school in 1952
as compared to 1951, relatively more young women turned
to keeping house and somewhat larger proportions of older
persons, especially men, retired.
31
ordnance and transportation equipment other than automobiles, and the consumer goods industries, such as textiles
and apparel, which had experienced a fall in demand in 1951.
Since the workweek in the former industries in 1951 was
already longer than the average for all manufacturing, the
expansion came entirely from the employment of additional
workers—59 percent more in the former industry and 29
percent more in the latter.
Expansion of work in the reviving consumer soft goods industries, by contrast, was effected largely by the lengthening
of the workweek which had been sharply reduced in the
period of falling sales from second quarter 1951 through
first quarter 1952. The workweek in the textiles, apparel,
and leather industry groups lengthened by 2 hours or more
between the final quarters of 1951 and 1952, or about 6 per-
Labor Force Developments
~ Followed Clear Cut Trends
MILLIONS OF PERSONS
70
Armed forces
build-up
affected
civilian
labor force
growth....
Shift in employment pattern
Some of the employment pattern shifts in 1952 represented
a" continuation of long range trends. Most basic of these is
the gradual shift of manpower out of raw material producing
industries into commodity fabrication and distribution. As
already shown, agricultural employment declined one quarter
million or about 3.5 percent from 1951 in continuation of the
well-established trend based on the rapid growth of productivity on the farms. Among major nonagricultural industries the largest decline occurred in those producing raw
minarals where productivity has also made especially rapid
strides. Here employment dropped 5 percent from 1951
to a level more than one-tenth below the postwar peak
reached in 1948.
Salary and wage workers
All nonagricultural industries
Manufacturing
Mining
Contract construction
Transportation and public utilities.
Trade
Finance
Service
Government, civilians
Employment, 1952 average
Percent change
Thousands
from 1951
46, 865
1.00
15, 985
875
2, 546
4, 168
9,943
1, 961
4, 761
6, 628
.33
-4. 89
-.90
. 58
1. 42
4. 14
. 04
3. 72
Construction was the only other nonagricultural industry
group to experience lower employment. Manufacturing
employment, retarded at mid-year by labor-management
disputes, registered only a nominal increase for the year as a
whole but in December was three quarters of a million above
December 1951. The largest relative employment gains
occurred in the finance group which includes banking and
investment, and in government with Federal employment
up 6.3 percent, chiefly in defense agencies, and State and
local employees up 2.5 percent.
Total employment of production workers in manufacturing was virtually unchanged, on a monthly-average basis,
but there were important shifts among manufacturing industries as adjustments were made to the changing pattern of
demand including the continued rise in defense production
and the accelerated buying of consumer goods. These
changes were reflected in shifts both in employment and in
length of the workweek and, of course, in total man-hours
worked (see table).
The two groups of industries that stood out above the
all-industry average with respect to man-hour expansion were
those primarily engaged in defense production, such as
60
j
50
i
i
10
and agricultural
employment
declined to
a new l o w . . . .
I
0
I
I
I
60
while nonagricultural employment
reached new
highs . . . .
50
40
•V
10
and unemployment
was lower than
since the war
1945 46
47
48
49
50
51
52
ANNUAL AVERAGES
U. S. DEPARTMENT
OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
63-10
cent, compared to the all-manufacturing average workweek
extension of 2 percent. Even with these additional hours,
however, the workweek in consumer soft goods lines at the
year end averaged considerably less than in the durable goods
industries—the differential remaining larger than is usual
for years of high activity.
Factory pay up substantially
Continuing the upward trend, the average hourly earnings
of factory workers rose 5.7 percent between the fourth
SURVEY OF CURRENT BUSINESS
32
quarters of 1951 and 1952. This was a smaller gain than
those recorded in either 1950 or 1951 but in view of the
virtual stabilization during the year of average prices paid by
consumers for goods and services, it represented the largest
annual advance in real earnings (i. e., adjusted for changes in
consumers' prices but not for higher direct taxes) since 1949.
During the three years from the closing quarter of 1949 to
the final quarter of last year, real hourly earnings of manufacturing production workers rose successively 4.1, 0.5, and
4.3 percent per year for a total of 9 percent.
Reflecting in part the varying intensities of demand for
the products of the different industries, 1952 increases in
average hourly earnings, upon the basis of final quarter comparisons, varied widely among industries. Gains were more
than 17 cents an hour in the primary metal and automobile
industries while at the other end of the scale workers in the
apparel group received 1.3 cents more an hour and textile
workers got an additional 3.1 cents. The rise in this period
for all manufacturing averaged 9.2 cents per hour. Pay increases in all major industry groups except apparel exceeded
the 1.3 percent rise in consumer prices.
The lengthening of the workweek during the year led to
some increase in the premium pay for overtime included in
the average hourly earnings of factory workers. Hence the
pay increase between the closing quarters of 1951 and 1952
of 9 cents an hour was composed of approximately 8 cents
increase in straight time and 1 cent of additional overtime.
Petroleum and coal products
A utomobiles
Printing and publishing
Primary metal industries
Transportation equipment
automobiles
Machinery except electrical
Change IV 1951 to IV 1952
1
>
HH
Change IV 1950 to IV 1951
Change IV 1949 to IV 1950
Table 14.—Changes in Average Hourly Earnings of Manufacturing
Production Workers, Between Fourth Quarters of 1949 and 1952,
by Industry Groups
Percent increase
(M
Fourth
quarters
1949 to 1952
2 W)
K>'3
oi
i|
o >r
« t ^1
^ '3 i v'z
°53 # *
1
qS
>
»—t
$1.803 $0. 087 $0. 113 $0. 164 $2. 167
.696 .150 .114 .172 *2. 132
.840 .068 .087 .114 2.109
.577 .124 .127 .175 2.003
:
20.2
25.7
14.6
27.0
6.7
11.6
12.7
6.8
7.4
4.3
8.1
_ _-
.608
.539
.088
.137
.129
.125
.131 *1.956
.100 1.901
21.6
23.5
8.0
9.6
5.8
4.2
Rubber products
Ordnance and accessories
Fabricated metal products
Instruments and related products
Electrical machinery and equipment-.
Chemicals and allied products
.509
1.490
1.461
1.414
1.438
1.432
.104
.117
.128
.131
.101
.126
.125
.113
.102
.126
.116
.085
.129
.126
.105
.110
.079
.081
1.867
1.846
1.796
1.781
1.734
1.724
23.7
23.9
22.9
26.0
20.6
20.4
9.8
9.9
9.2
11.7
6.9
6.9
6.0
5.9
4.8
5.2
3.4
3.6
A l l manufactures. _ _ _ _ _
1.397
.122
.107
.092 1.718
23.0
9.1
4.3
Stone, clay, and glass products
..
Paper and allied products
Food and kindred products
Lumber and wood products except
furniture
Miscellaneous manufactures. _. _
1.379
1.355
1.304
.120
.113
.085
.086
.080
.110
.105 1.690
.091 1.639
.075 1.574
22.6
21.0
20.7
8.7
7.4
5.2
4.5
3.6
1.285
1.268
.110
.091
.099
.088
.054 1.548
.081 1.528
20.5
20.5
6.9
6.8
2.3
4.2
Furniture and fixtures
Textile mill products
Leather and leather products .
Apparel and other finished textile
products
Tobacco manufactures
1.236
1.195
1.139
.097
.110
.087
.097
.029
.059
.074 1.504
.031 1.365
.059 1.344
21.7
14.2
18.0
7.9
1.4
4.8
3.8
1.0
3.2
1.155
1.008
.073
.100
.043
.057
.013 1.284
.040 1.205
11.2 -1.3 -0.3
6.1
19.5
2.1
*December estimated.
except
February 1953
Labor dispute losses large
Work stoppages in 1952 resulted in the direct loss of an
estimated 55 million man-days, a total surpassed only once
in the 26 years that these figures have been compiled—in
1946 when 116 million man-days were lost. The last previous year of large time losses was 1949 with 50 million mandays of work stoppage.
Source: IT. S. Department of Labor, Bureau of Labor Statistics.
Table 15.—Production Workers in Manufacturing: Employment and Hours Worked Per Week
Annual
average
(1,000)
All nondurable goods
_______
_
Petroleum and coal products
_ _
Printing and publishing .
Primary metal industries
Tobacco manufactures
__ __ __
Stone, clay and glass products
Chemicals and allied products.
Food and kindred products Machinery, except electrical
Lumber and wood products, except
furniture
*December estimated.
Percent
change
from
1951
Fourth
quarter
average
Percent
change
from IV
quarter
1951
Annual
average
(1,000)
Percent
change
from
1951
Fourth
quarter
average
(1,000)
Percent
change
from IV
quarter
1951
64
28.0
42.9
-1.4
41.6
-6.1
2. 574
59.9
2,662
20.2
28.8
1.2
-9.1
20.2
11.9
11.7
*42.3
38.4
*40.3
-.9
3.8
2.0
*42. 4
38.5
*42.0
-.7
6.1
5.8
27, 410
13, 286
26. 316
27.6
5.0
-7.2
29, 002
13, 783
30, 786
19.4
18.7
18.2
396
-1.5
431
11.7
41.0
.2
42.3
3.4
16, 236
—1.3
18, 231
15.5
1,031
732
238
298
1, 120
808
-.8
3.1
6. 7
-1.0
-5.6
-2.8
1. 070
782
250
313
1. 157
858
4.8
9.1
8.7
6.8
1.9
6.3
36.7
41.4
41.9
41.5
39.1
41.6
1.9
0
-.7
.7
.8
-.2
37.4
42.2
42.8
42.4
40.6
42.6
5.6
1.0
2^2
6.6
1.9
37. 838
30, 305
9,972
12.367
43, 792
33, 613
1.2
3.1
6.0
-.3
-4.8
-3.0
40, 018
33, 000
10, 700
13, 271
46, 974
36, 551
10.7
10.1
9.5
9.1
8.6
8.4
-.5
7,690
5.2
41.5
-.5
42.3
1.2
302, 909
-1.0
325,287
6.4
422
2.7
42.8
7
44.0
3.3
17, 420
-3.8
18, 568
6.0
13,437
3.9
40.7
41.5
2.0
524, 338
-1.2
557, 636
5.9
226
3.7
40.7
.2
41.4
8,791
-1.1
9,356
5.4
60
407
12,883
._
Annual
average
684
358
733
7,299
Rubber products
*~
fr0™ T V
™™ t p r
Q
^95i
62.2
All durable goods
All manufactures
j Fourth
; quarter
average
(1,000)
64S
346
653
Ordnance and accessories
Transportation equipment, except
automobiles
Leather and leather products
Automobiles-Miscellaneous manufacturing industries
Apparel and other finished textile
products
Electrical machinery
Instruments and related products
Furniture and fixtures
Textile mill product^
Fabricated metal products
Paper a n d allied products _ _ _ _ _ _
Percent
change
from
1951
Total man-hours worked per week in 1952
Hours worked per week in 1952
1952 employment
216
-1.2
-1.4
~o'
5,584
-2.0
5,747
2.1
39.7
.5
40.4
2.8
221, 685
-1.5
232, 179
5.0
195
513
1,078
83
455
527
1,146
1,248
0
.2
-7.0
2.5
-4.8
-1.5
-2.1
1.2
202
524
1,173
88
465
535
1, 165
1, 250
2.5
1.0
1.3
2.3
-1.5
-1.1
-1.2
-.4
40.5
38.8
40.7
38.1
41. 1
41.3
41.7
42.9
-1.2
0
-1.9
-.5
-1.2
-1.2
40.8
39.3
41.7
39.3
41.8
41.8
42.0
43.1
-.3
1.0
.5
-.5
1.2
0
-.2
-1.2
7, 898
19, 904
43, 875
3,162
18, 701
21, 765
47, 788
53, 539
-1.2
.2
-8.8
1.9
-6.0
-2.7
-2.5
2
8,242
20, 593
48, 914
3,458
19, 437
22, 363
48, 930
53, 875
2.3
2.0
1.8
1.8
—.3
— 1.1
— 1.4
-1.6
685
-7.6
688
-4.2
41.2
41.6
1.7
28, 222
—6.9
28, 621
-2.5
Source: U. S. Department of Labor, Bureau of Labor Statistics.
~d
BUSINESS STATISTICS
Wlontki
-L HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1951 Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $1.50) contains monthly data for the years 1947 to 1950, and monthly averages for earlier years
back to 1935 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1947. Series
added or revised since publication of the 1951 Supplement are indicated by an asterisk (*) and a dagger (f), respectively, the accompanying footnote indicating where historical data and a descriptive note may be found. The terms "unadjusted" and "adjusted" used to designate index
numbers and dollar values refer to adjustment of monthly figures for seasonal variation.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely.
vided through the courtesy of the compilers, and are subject to their copyrights.
1952
1951
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
Data from private sources are pro-
December
January
February
March
April
May
June
July
August
Septem
ber
October November
December
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCTf
Seasonally adjusted quarterly totals at annual rates:
National income, total
bil of dol
Compensation of employees, total
do
Wages and salaries, total
do
Private
do
Military
do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' and rental income, totalcf do
Business and professionalcf
do
Farm
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment total
bil of dol
Corporate profits before tax total
do
Corporate profits tax liability
do
Corporate profits after tax
do
Inventory valuation adjustment
do
Net interest
do
285.6
183.4
174.3
143.8
T
288.0
186.5
177.4
145.8
10.0
21.7
9.0
52.1
27.3
15.4
9.4
9.6
20.9
9.1
53.1
26.6
17.0
9.4
42.7
42.7
42.5
39.5
22.2
17.3
3.0
6.6
285. 6
186.9
177.8
145.6
10.2
21.9
9.2
51.9
27.6
14.8
9.5
18.4
— .1
6.7
r39.
9
T
38 2
r
21.8
r
16 4
1.7
6.9
r
24.3
T
Gross national product, total
do
Personal consumption expenditures total do
Durable goods
do
Nondurable goods _
do
Services
do
Gross private domestic investment
do
New construction
do
Producers' durable equipment
do
Change in business inventories
do
Net foreign investment
do
Government purchases of goods and services,
total
bil. of dol
Federal (less Government sales)
do
National security 9
do
State and local
do
337.1
210.5
25.3
116.2
69.0
52 9
22.4
24.7
5.8
2.6
339 7
213 2
25.2
118.0
70.0
50 0
23.7
25.7
.6
2.2
342.6
214 9
26.4
117.8
70.8
49 3
23.6
25.7
.1
.4
71.2
48.9
44.3
22.3
74.4
51.2
46.4
23.2
78.0
54.9
50 3
23.0
Personal income, total
Less" Personal tax and nontax payments
"Equals* Disposable personal income
Personal saving§
262.0
30.4
231.5
21. 1
do
do
do
do
263.0
33. 5
229. 5
r
16.3
r
r
r
7
3
0
3
v 300 2
197.9
188 2
155 3
9 3
52.5
27 5
15.2
9 8
9 6
53 6
28 2
15. 5
10 0
287
190
181
148
37 8
37 2
21.2
16 0
.6
71
r
r
T>
v
P
P
343 0
215 o
24 2
118.9
71 9
51 7
23 0
25.0
3 7
-1.6
360
222
27
121
73
57
23
25
8
77.9
54 8
49 6
23.1
264.4
"•33.6
230.
8
T
15.9
1
0
3
4
3
3
7
6
1
2
80 6
56 6
50 4
24*0
268.9
34. 1
234. 8
r
19.8
277
34
242
20
r
r
41 5
40 3
23 ()
17 3
1 2
7 2
0
6
5
5
PERSONAL INCOME, BY SOURCE f
Seasonally adjusted, at annual rates:
Total personal income
bil. of dol_.
Wage and salary disbursements, total.. do__ _
Commodity-producing industries
do
Distributive industries.
do -__
Service industries _
_._ do
Government
do
Wage and salary receipts, total.
do _ _ _
Other labor income
_ _ _ _do
Proprietors' and rental income
do
Personal interest income and dividends__do
Transfer payments.. _
_ .do
Less personal contributions for social insurance O
bil. of dol. .
Total non agricultural income
do
263. 4
176.0
77.5
46.7
20.8
31.0
172.6
4.3
53.3
21.1
12.1
263.4
176. 7
77.3
47.1
20.8
31.5
173.1
4.3
53.4
20.1
12.8
263.5
178.0
78.2
47.1
20.9
31.8
174.5
4.3
52.1
20.5
12.4
261.9
177.3
77.7
47.0
20.8
31.8
173.9
4.3
50.7
21.0
12.4
262.5
176.7
76.9
47.0
21.0
31.8
173.4
4.4
51.2
21.5
12.3
264.5
177.9
76.7
47.7
21.3
32.2
174.6
4.4
51.7
21.5
12.6
266. 7
179.3
77.2
48.5
21.3
32.3
175.8
4.5
52.8
21.4
12.5
263.9
177.4
74.0
49.3
21. 5
32.6
173.9
4.5
52.2
21.3
12.4
269. 6
182. 5
78. 7
49.4
21.5
32.9
179.0
4.5
51.8
21.4
13.1
273.8
185.3
81.6
49.3
21.6
32 8
181.9
53. 4
21.4
12.9
276. 1
187 5
82.9
49.9
21.8
32 9
184.0
4 6
53 5
21.3
13.0
3.4
3.9
3.8
3.8
3.6
3.6
3.8
3.9
3.7
3.7
3.8
240.7
241.7
243.4
242.7
242.9
244.9
245,9
243.4
249.4
253. 0
255 4
r 275. 8
187. 9
r
83. 5
r
49. 6
21.9
r
32. 9
r
184. 4
4.6
r
52 9
21.3
12.8
r
279.2
189.4
84.7
49.9
21.8
33.0
185.8
4.6
54 5
21.2
13. 3
3.7
3.8
255. 7
258. 0
NEW PLANT AND EQUIPMENT
EXPENDITURES*
1
6, 228
6,420
6, 913
7.421
7 298
All industries, quarterly total
mil of dol
i 3 512
3,264
2, 742
2 934
3 335
Manufacturing
do
1
_
201
208
244
220
Mining
do
221
i 355
362
290
381
432
Railroads
do
1
301
344
310
378
Transportation other than rail
do
345
i i 137
957
847
970
Public utilities
do
1, 117
1
1,708
1,715
1,713
1,949
Commercial and other
do
1, 668
r
Revised.
» Preliminary.
i Estimates for October-December based on anticipated capital expenditures of business.
fRevised series. Quarterly estimates of national income and product and quarterly and monthly estimates of personal income have been revised beginning 1949; see pp. 29-31 of the July
1952 SURVEY for the data.
^Includes inventory valuation adjustment.
9 Government sales are not deducted.
§ Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above.
OData through 1951 represent employee contributions only; thereafter, personal contributions of self-employed
persons are also included.
JRevised beginning 1939. For revised annual data for 1939-51 and for quarterly data beginning 1947, see pp. 20 and 21 of the August 1952 SURVEY.
S-l
SUEVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1951
December
January
Febru- | March
ary
April
May
Tune
J
July
August
September
October
November
Decemher
GENERAL BUSINESS INDICATORS—Continued
FARM INCOME AND MARKETINGS*
Cash receipts from farming, including Government
payments, total
mil of dol
Farm marketings and CCC loans, total
do Crops _
.. _ _.
...
do-_Livestock and products, total
do
Dairy products
__
- ._ do . _
Meat animals
do
Poultry and eggs
. d o _..
Indexes of cash receipts from marketings and CCC
loans, unadjusted:
All commodities
1935-39=100-.
Crops
do
Livestock and products
- - do.. Indexes of volume of farm marketings, unadjusted:
All commodities
1935-39=100-Crops
do
Livestock and products
do_ .-
3,012
2,994
9
2,642
2,619
1,111
1,508
330
2 043
2, 010
2 122
2,079
2 100
2 053
1,433
1, 561
325
638
628
571
573
1.372
330
1.451
369
1,482
389
924
243
1, 569
433
873
354
809
227
817
254
812
262
825
272
452
506
411
395
393
397
303
226
361
314
222
382
310
202
390
157
160
154
145
137
151
115
82
140
119
76
151
176
2 142
2 381
2 361
1,510
427
2 711
2 697
1 235
1,462
410
2 882
2 874
1 377
1,497
394
769
271
759
269
812
278
98*
316
323
202
413
356
301
398
407
436
385
434
487
394
116
64
155
123
68
164
139
108
162
154
165
145
161
182
145
851
3 6?0
3' 609
1 926
1,683
370
4 T23
4 C9S
2 303
1,795
385
1 088
T Q £,46
r 3 528
' 1 877
1, 651
346
3 072
3' 056
l' 537
1,519
338
330
911
384
826
349
544
681
443
618
814
472
532
663
435
461
544
400
196
237
164
220
274
179
190
217
170
180
197
168
INDUSTRIAL PRODUCTION
Federal Peserve Index
Unadjusted, combined index
1935-39= 100- .
217
217
218
217
215
211
205
194
218
'232
233
'235
P233
do _
227
227
229
228
224
224
215
203
228
'242
245
' 246
v 246
do
_. do
do
do
do
do _
do
do
do
280
263
280
261
281
261
283
263
277
245
278
246
249
140
142
175
148
176
149
175
145
168
155
169
122
358
207
196
235
125
359
216
206
243
133
360
217
204
249
150
165
'292
'270
167
183
135
359
218
204
252
152
170
143
354
218
203
257
133
353
216
199
260
148
352
210
195
246
269
244
'160
175
'301
141
178
232
139
143
331
201
184
241
do
do
do_ _.
do
do
-- do
212
220
177
201
320
221
205
188
169
219
318
218
208
196
168
232
322
219
212
200
167
239
327
222
216
226
168
242
329
227
224
241
167
260
338
231
225
237
169
266
339
229
216
236
160
255
287
162
231
261
169
272
300
175
Nondurable manufactures
do _ _
Alcoholic beverages
do
Chemical products
do __
Industrical chemicals
_ _ __ do
Leather and products
do
Leather tanning
do
Shoes
do __
Manufactured food products
do __
Dairy products
do
Meat packing
do
Processed fruits and vegetables
do
185
154
302
563
88
79
94
158
95
195
96
184
145
302
562
100
86
110
151
86
193
83
186
152
300
562
109
96
118
149
97
175
84
184
155
298
563
108
86
122
148
116
165
82
180
155
295
559
102
84
114
149
152
152
89
180
158
291
558
105
90
115
154
197
147
96
187
176
296
563
102
90
111
165
217
147
124
181
186
295
565
90
77
98
174
215
137
179
195
159
299
do
do
..do
do
do
do . _ _
do _ _
do
do
do
do
do . _ _
183
181
281
185
215
178
250
152
136
283
118
137
187
185
281
188
211
170
248
157
144
296
116
176
194
190
281
188
212
175
243
160
150
294
122
167
192
188
278
204
210
180
242
152
141
288
112
164
186
181
261
166
205
180
235
144
130
280
108
174
182
175
209
165
157
174
242
151
135
287
117
178
182
177
251
72
216
175
246
154
133
312
112
197
159
153
259
67
225
145
225
147
111
343
103
179
188
180
280
169
231
157
242
170
143
369
123
193
198
172
142
361
134
197
- do
do
- do
do
do
__do
159
170
86
135
193
89
162
175
91
147
194
88
162
174
77
135
199
91
158
170
68
122
199
90
165
171
74
119
201
130
143
140
73
107
159
159
149
161
74
102
193
75
144
155
57
91
190
81
161
161
61
102
194
164
180
180
88
144
203
178
166
167
95
93
203
164
do
218
221
222
221
216
211
204
193
"•215
'228
do
Manufactures
Durable manufactures
Iron and steel
Lumber and products
Furniture
Lumber
__
Machinery
Nonferrous metals and products
Fabricating
Smelting and refining
Stone clay, and glass products
Cement
Clay products
Glass containers
Transportation equipment
Automobiles (incl parts)
Paper and products
Paper and pulp
Petroleum and coal products
Coke
Gasoline
Printing and publishing .. _.
Rubber products
Textiles and products
Cotton consumption
Rayon deliveries
Wool textiles
Tobacco products
Minerals
Fuels
Anthracite
Bituminous coal
Crude petroleum
Metals
Adjusted combined indexed
r
r
r
248
251
'305
'283
'159
'190
' 143
' 372
'240
' 236
'251
232
263
167
267
' 234
'226
'353
'247
' 368
'261
'201
200
159
309
152
159
336
'354
'225
'216
213
197
251
'568
116
95
129
185
214
138
'234
159
' 305
' 567
'111
280
164
'190
151
'363
' 236
' 231
P214
252
'167
262
245
210
'376
'271
?387
P272
'199
P193
' 577
'279
'194
192
128
v 387
P245
p 239
P261
267
173
154
r
v 194
'171
112
104
118
178
133
169
95
123
-'311
5288
P151
231
P166
163
142
'313
'594
v 317
p610
114
106
120
'165
106
'190
'114
. _ ..
P159
107
208
p99
191
181
'192
205
194
279
195
184
'282
'289
177
234
166
'179
182
233
P289
P183
P231
'252
' 177
'258
'183
'263
'176
P273
^167
145
377
'137
203
225
180
149
356
137
184
' 170
' 177
172
141
337
159
v 160
1*172
87
135
71
125
'202
'132
P200
'230
'234
P235
P88
228
231
232
231
225
224
214
202
225
'237
'242
'245
P247
Durable manufactures
Lumber and products
Lumber
Non ferrous metals
Smelting and refining. „
Stone, clay, and glass products
Cement
Clay products
Glass containers
do_.
do
do
- do
do . . _
do _
do
do
do _ _
282
154
141
207
235
219
242
172
216
282
159
150
216
243
217
233
182
223
284
162
154
217
249
224
257
177
239
285
158
149
218
252
222
244
175
239
277
152
143
218
257
220
238
173
242
277
142
128
216
259
217
230
168
243
247
146
134
210
247
222
222
170
269
230
141
128
201
242
214
215
158
266
r267
'149
'290
'299
155
140
155
138
P313
P164
'225
'236
'304
' 161
'146
'240
248
222
227
161
261
251
224
231
161
254
Nondurable manufactures
Alcoholic beverages
Chemical products
Leather and products
Leather tanning
Manufactured food products
Dairy products
Meat packing
Processed fruits and vegetables-
do
_-do.
do
do
do
do
- do__
do
do
185
176
298
88
79
160
136
163
123
189
174
300
100
86
162
137
162
128
190
171
297
107
90
165
138
182
133
188
170
294
108
86
166
142
179
150
100
181
150
292
105
90
160
148
146
147
180
152
298
103
92
166
147
148
161
179
162
299
91
.81
162
145
194
155
195
162
303
112
103
M anuf actures
157
292
102
84
163
146
165
146
147
138
135
213
251
221
231
' 163
261
191
151
302
116
97
'164
;
148
158
'123 1
'302
112
97
'188
148 1
170
' 143 !
165 !
146
169
'151
251
' 221"
149
P245
P260
P 221
233
161
242
P161
197
180
P 194
'308
P313
113
103
'161
147
' 170
'124
254
225
166
p]61
152
176
v 127
JRevisions for January 1950-July 1951 based on final data will be shown later. Revisions for 1910-49, incorporating changes in methods of estimation and adjustments in production, disposition, and prices, are shown on p. 23 of the December 1951 Sr RVEY.
cf Seasonal factors for a number of industries were fixed at 100 during 1939-42; data for these industries are shown only in the unadjusted series.
SURVEY OF CURRENT BUSINESS
February 195?»
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1952
1951
December
S-3
February
January
March
April
June
May
July
August
September
October
November
205
194
'175
December
GENERAL BUSINESS INDICATORS—Continued
i
INDUSTRIAL PRODUCTION— Continued
Federal Reserve Index— Continued
A d justed cf— Continued
Manufactures— Continued
N endurable manufactures— Continued
Paper and products
1935-39=100-_
Paper and pulp
_
do
Printing and publishingdo
Tobacco products _
do
i
184
182
174
147
187
185
193
189
192
188
185
181
182
175
181
176
160
154
188
180
192
181
203
192
175
176
177
175
177
174
175
184
170
178
176
189
157
172
165
186
165
187
176
190
163
122
167
125
167
128
164
125
166
141
140
143
147
65
142
65
156
131
175
164
'148
' 145
Business sales (adjusted), total
mil. of doL_
Manufacturing, total . .
do
Durable-goods industries
do
Nondurable-goods industries
do
Wholesale trade, total- . .
do
Durable-goods establishments
do
Nondurable-goods establishments . _ do
Retail trade, total
do
Durable-goods stores
_ __
do
Nondurable-goods stores
do
42, 794
20, 962
9, 745
11,217
8, 765
2,642
6, 123
13 067
4,251
8,816
44, 792
22, 634
10 861
11,773
9,004
2, 704
6,300
13 154
4,366
8,788
45, 866
23 506
11 35?
12, 154
8, 954
2, 773
6, 181
13 406
4 611
8, 795
43, 431
22 085
10 632
11,453
8,326
2,578
5 748
13 020
4,314
8,707
45, 748
23 538
11 310
12, 228
8,862
2,787
6 075
13 348
4 496
8,851*
45, 533
23 247
11 328
11,918
8,448
2,669
5,779
13 838
4 931
8,907
44, 381
21 888
10 060
11,828
8 493
2, 698
5 795
14 000
4 887
9, 113
44, 455
21 858
9 777
12'. 081
8 949
2,817
6 132
13 648
4 494
9,154
43, 612
21 898
10 437
11, 460
8,371
2, 495
5, 876
13 343
4,200
9,142
46, 276
23, 663
11 510
12,154
9. 055
2, 793
6, 262
13, 558
4,508
9,050
' 48, 329
' 24, 753
11,968
' 12, 785
9, 389
2, 931
6, 458
14, 198
4,846
9,341
'
'
'
'
46, 241
23, 465
11, 676
11, 789
' 8, 773
' 2, 737
' 6, 036
' 14, 003
' 4, 766
' 9, 237
47, 889
24, 200
11, 952
12, 247
9,367
2,962
6, 405
14, 322
4,808
9,514
Business inventories, book value, end of month
("adjusted), total
mil. ofdol
Manufacturing, total
do
Durable-goods indu stries
do
Nondurable-goods industries
. do
Wholesale trade, total
do
Durable-goods establishments
_ _ do
Nondurable-goods establishments
do_
Retail trade, total
_ .
do
Durable-goods stores
... .do_
Nondurable-goods stores
_ do
74, 059
43. 039
22, 884
20, 156
10,266
5, 1 07
5, 159
20, 754
9, 726
11,028
73, 996
43, 077
23,110
19, 967
10, 238
5,127
5,111
20, ('81
9, 775
10, 906
73, 829
43, 168
23, 31 3
19, 855
1 0, 036
5, 01 1
5, 025
20, 625
9, 789
10, 836
73, 620
43, 237
23, 401
19, 836
10, 062
5, 055
5,007
20, 321
9,583
10, 738
73, 876
43, 402
23, 596
19 805
9,997
5, 054
4, 943
20, 477
9,624
10, 853
73 074
43, 144
23, 595
19, 550
9 861
4, 955
4, 906
20, 069
9,112
10, 957
72 913
42, 892
23. 348
19, 544
9 896
4,858
5,038
20 125
9, 030
11, 095
72 765
42. 748
22, 962
19, 786
9 890
4,864
5,026
20, 127
8, 749
11,378
72, 714
43, 107
23, 200
19, 908
9 862
4,934
4,928
19, 745
8,626
11,119
73, 437
43, 224
23, 292
19, 932
9,932
4, 964
4.968
20, 281
8,956
11, 325
74, 189
43,415
23, 615
19, 800
10, 122
4,986
5.136
20, 652
9, 175
11, 477
'
'
'
'
'
74, 738
43, 578
23, 835
19, 743
10, 191
5,084
' 5, 107
' 20, 969
' 9, 458
' 11, 511
74, 872
43, 630
24, 133
19, 497
10, 187
5,079
5,108
21,055
9,572
11, 483
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS f
Sales:
Value (unadjusted), total
mil. of doL.
Durable-goods industries
do
Nondurable-goods industries.
do-
21, 026
9,963
11,063
22; 260
10, 459
11,801
22,416
10, 694
11, 723
23, 205
11, 270
11,934
22, 950
11 237
11,713
22, 478
11, 056
11, 422
21, 640
10, 284
11,356
20, 051
8,844
11,207
22, 605
10 579
12,026
24, 700
11, 905
12, 795
' 26, 488 ' 23, 442
' 11, 510
12, 787
' 13, 701 '11,932
24, 226
12,213
12, 013
20, 962
9,745
1,889
1,070
999
1,863
1, 295
615
276
22, 634
10,861
1,964
1,240
1,064
2, 050
1,647
645
264
til4
496
284
592
23, 506
11,352
2,018
1,205
1,103
2, 136
1, 645
733
306
678
549
280
701
22 085
10, 632
1,973
1,126
1,059
1,970
1,599
677
313
576
484
257
597
23 538
11,310
1,994
1, 256
1, 036
2, 079
1, 736
746
318
687
472
303
684
23 247
11,328
1, 934
1, 197
1,069
2, 033
1, 812
817
336
642
509
297
684
21 888
10,060
1. 085
1,154
1,964
1, 815
736
350
597
483
265
619
21 858
9,777
1,113
1,184
1,106
1,942
1,167
790
377
621
497
302
678
21 898
10,437
1, 930
1,053
1,168
1, 833
1,309
811
389
600
522
261
563
23, 663
11,510
2,107
1,156
1, 256
1, 966
1,831
749
419
629
545
245
607
' 24, 753 ' 23, 465
'11,676
11,968
2,100
2,198
1, 177
1,263
1,238
1,205
2, 060
2,068
1,826
1,842
'923
812
362
410
678
'596
' 518
553
'255
277
'623
663
24, 200
11,952
2,008
1,243
1,303
2,004
1, 887
878
352
758
498
330
692
11,217
3,116
504
281
1,122
950
238
621
668
1,419
1,937
362
11,773
3,161
499
318
1,143
997
252
714
760
1,523
1, 938 |
468
1 2, 1 54
3, 382
11,453
3, 1 26
530
292
1 , 093 1
958
231
651 1
702
1,515
1 , 949
406
12, 228
3,280
11,918
3,312
568
311
1,148 1
1,121 !
274
630 j
720
1,566
1,846
424
11, 828
3, 1 71
12, 081
3,267
11, 460
3,012
12, 785
3,452
do
do
do
43, 056
22, 650
20, 406
43, 473
23 092 !i
20, 381
43, 594
23 379 i
20,215
43, 732
23 647
20, 084
43, 614
23 813
19, 801
_ do
do
.do
16, 994
11,000
15, 063
16,847
11, 334
15.291 :
16, 675
11,641
15,, 278
16,539 i
11, 808
15,, 385
43, 039
22, 884
2,814
2,414
2,927
5, 292
2, 733
1,950
549
1,069
827
757
1, 551
43, 077
23.110
2, 866
2,358
2, 899 :
5. 385
2, 747
2, 039
569
1,064
857
23,313
2, 893
2, 10P
3, 042 j
5. 428
2, 683
2. «82
5F,1
1,064
43, 237
23. 401
2, 882 !
2,438 i
3, 074
5,465
2, 670
2, 124
549
1, 058 i
903
735
1, 504
Minerals
Metals _.
_ _ __
_ _
do
do
195
185
181
168
172
' 171
'138
v 164
* 121
BUSINESS SALES AND INVENTORIES^
Value (adjusted), total
do
Durable-goods industries, total _
__ do
Primary metals _ ._
do
Fabricated metal products
do
Electrical machinery and equipment... do
Machinery, except electrical
do
Motor vehicles and equipment
....do
Transportation equipment, n. e. s
do
Furniture and
fixtures
do
Lumber products, except furniture.. ...do
Stone, clay, and glass products
do
Professional and scientific instruments- .do
Other industries, including ordnance... do--_»
Nondurable-goods industries, total .- do
Food and kindred products
do
Beverages
do
Tobacco manufactures
do. _
Textile-mill products
do .
Apparel and related products
do
Leather and leather products
_ _ do
Paper and allied products
do
Printing and publishing
_ do
Chemicals and allied products
do
Petroleum and coal products
. do
Rubber products
do
Inventories, end of month:
Book value (unadjusted), total
Durable-goods industries
Nondurable-goods industries
By stages of fabrication:
Purchased materials .
Goods in process
Finished goods
_
425
245
531
475
312
1,148
1,045
270
694
733
1,606 \
2, 047
442 j
991
!
i
|
1
684
267
650
704
1, 495
1, 945
1, 560
1, 956
430
408
1,473
2,003
452
12,154
3,246
534
324
1,137
1, 068
275
699
678
1,602
2, 109
482
43, 407
23 924
19, 483
42, 972
23 518
19, 454
42, 660
23 050
19, 610
42, 707
23 116
19, 591
42, 660
23, 147
19, 513
42, 920
23, 385
19, 536
' 43, 226
' 23, 553
' 19, 673
43, 670
23, 930
19, 740
16, 303
1 1, 900
1 6, 1 56
11,919
15,332
15, 871
11,782
15, 320
15, 737
11,813
15, 110
15, 699
12.041
14, 967
15, 836
12, 132
14, 692
16, 058
12, 272
14, 590
' 16, 241
' 12, 266
' 14, 719
16, 612
12,210
14, 848
43, 402
23 5Q 5
2, 886
2, 445
3,119
5, 539
2, 669 i
2,170
560
1,041
922
748
1, 498
43, 144
23. 595
2, 909
2,432
3, 133
5, 525
2, 674
2,177
566
1,040
926
748
1,466
42, 892
23. 348
2,945
2,344 ]
3,107
5, 461
2 562
2, 202
556
1,030
937
762
1,444
42, 748
22, 962
2, 928
2, 235
3,062
5,314
2, 51 7
2, 248
555
1, 005
922
757
1.420
43, 107
23, 200
2,971
2,309
3,037
5,280
2 641
2,291
532
1,010
904
770
1, 456
43, 224
23, 292
3, 031
2,318
3,031
5, 274
2,636
2,343
534
1,006
892
764
1,462
43,415
23, 615
3,084
2, 362
3,039
5, 275
2, 735
2,472
533
1,019
874
778
1,445
' 43, 578
' 23, 835
' 3, 165
' 2, 401
' 3, 032
' 5, 287
' 2, 853
' 2, 455
543
'1, 054
'852
'785
' 1, 408
43, 630
24, 133
3,221
2,439
3,084
5, 333
2, 873
2,480
521
1,124
843
789
1,426
564
318
1,244
1,130
261
633
760
1,573
2 028
437
638
310
609
325
1, 116
1, 124
1,162
1,171
290
625
573
310
1, 058
965
282
667
667
1,660
2, 181
' 11, 789
' 3, 191
'457
'309
'1,084
' 1, 143
'234
'663
'678
' 1, 532
' 2, 059
464
438
513
327
1,188
1,281
265
734
720
12, 247
3,321
550
349
1,120
1, 262
281
666
681
1, 548
2, 031
I
.
Book value (adjusted), total
.do
Durable-goods industries, total
do
Primary metals
do
Fabricated metal products
do ..
Electrical machinerv and equipment __do
Machinery, except electrical
do
Motor vehicles and equipment
do
Transportation equipment, n. e. s
do
Furniture and
fixtures
do
Lumber products, except furniture
do ...
Stone, clay, and glass products
do
Professional and scientific instruments. do
Other industries, including orojaance.-.do
T
1 , 5W
in. u;8
757
1, 528
Revised.
* Preliminary.
d1 See note marked "cT" on p. S-2.
§The term "business" here includes only manufacturing and. trade. Business inventories as shown on p. S-l cover data for all types of producers, both farm and nonfarm. Unadjusted
data for manufacturing are shown on this page; those for retail and wholesale trade, on pp. S-8, S-9, and S-10.
tRevised series. All components of business sales, inventories, and orders have been revised since publication of the 1951 STATISTICAL SUPPLEMENT. The latest revision (affecting data
back to 1949) and appropriate explanations of changes for all series except retail sales appear in the October 1952 SURVEY (see pp. 12 It.) and in the November 1952 issue (soe pp. 18 ff.); the new
estimates of retail sales (which begin with data for 1951), together with the revised old series for 1951, were first shown in the September 1952 SURVEY, pp. 17 ff. Data through 1948 for manufacturers' sales and inventories and wholesale sales and inventories, comparable with current figures, appear in the October 1951 SURVEY (see pp. 17-19 and 23, 24).
SURVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
February 1953
1952
1951
December
January
February
March
April
May
June
July
August
September
October
November
December
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDER Sf— Continued
Inventories, end of month— Continued
Book value (adjusted) — Continued
Nondurable-goods industries, totaL.mil. of dol__
Food and kindred products
do
Beverases
do
Tobacco manufactures
do
Textile-mill products
do
Apparel and related products
_
do
Leather and leather products
do
Paper and allied products
._ _ _ . do._ _
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber products
- _ - do__
20, 156
3,479
1 233
1,761
3,045
1, 816
613
986
795
2,984
2,600
843
19, 967
3.456
1 229
1.722
2,991
1,779
615
995
786
2,979
2,574
840
19, 855
3,549
1 987
1 694
2, 374
1,694
581
1,027
779
2,966
2,556
848
19, 836
3 556
1 317
1 685
2 772
1, 650
587
1, 032
772
2,998
2,602
865
19. 805
3,522
1 313
1, 693
2.779
1, 590
582
1,059
778
2, 986
2, 628
877
19, 550
3 486
1 3?1
1 704
2,735
1, 543
575
1,039
751
2, 973
2,544
878
19, 544
3 473
1 296
1 693
2, 734
1 537
558
1,028
741
3,011
2,607
864
19, 786
3 485
1 989
1 724
2, 764
1 685
554
1 007
715
2, 995
2,683
884
19, 308
3 489
1 259
1 720
2 798
1 770
543
972
722
3,022
2 728
884
New orders, net (adjusted), totalO
- do _
Durable-goods, industries, total
do
Primary metals
do
Fabricated metal products
do
Electrical machinery and equipment
do
Machinery, except electrical
_
__ do
Transportation equipment, including motor
vehicles and parts
mil. of dol
Other industries, including ordnance
do
Nondurable-goods industries, total
do
Industries with unfilled orders 9
do
Industries without unfilled ordersf - -- do
22, 174
10, 937
1,737
1,176
1,274
2,092
22, 695
11,115
2,013
1, 175
1,195
1,966
23, 493
11,392
1,947
1,058
1,550
1,984
23, 075
11,841
1, 749
984
1,955
1,708
24, 569
12, 761
2,258
1.262
1, 289
1,934
23, 284
11,492
1,883
1,275
1, 156
1,713
24, 327
12, 423
1,271
1, 278
1, 355
1,908
23 688
11,393
1 374
1,252
1,174
1,916
21 792
9 938
1 789
1, 142
1,066
1,515
2,536
2,123
11, 237
2,668
8, 568
2,421
2,346
11, 579
2,675
8,904
2, 488
2,364
12, 101
2,792
9,310
3,330
2,116
11,234
2,457
8,777
3,447
2,517
11,808
2,477
9, 330
3,009
2, 456
11,792
2,645
9,146
4,019
2,592
11,904
2,791
9,113
3,069
2,609
12, 295
2,996
9,298
2, 308
2,118
11, 854
3 067
8,787
Unfilled orders (unadjusted), totalO
Durable-goods industries, total
Primarv metals
_
Fabricated metal products
Electrical machinerv and equipment
Machinery, except electrical
Transportation equipment, including
vehicles and parts
mil.
Other industries, including ordnance
Nondurable-goods industries, total 9
65, 795
62, 410
8,074
5,739
8,954
12,018
66, 823
63, 506
8,125
5,934
9,038
12, 165
67, 088
63, 797
7. 983
5, 819
9,227
12, 171
68, 992
65, 887
7,800
5,781
10, 596
11,941
69, 978
67, 114
8,042
5, 997
10, 735
11,719
69, 230
66, 309
7,838
5,974
10, 754
11,303
72, 541
69, 340
8, 104
6,088
1 1, 302
11,097
74, 985
71, 705
8, 561
6 196
11, 497
11, 279
21, 846
5,780
3,385
22, 192
6,052
3,317
22, 414
6,132
3,292
23, 644
6, 125
3,105
24, 394
6,228
2,864
24, 344
6,097
2,922
26, 478
6,271
3,201
27, 563
6,609
3,280
do ._.
do
do._ _
do
do
do
motor
of dol
do
do
19, 932
3 443
1 968
1 726
2 833
1 725
541
973
734
3,022
2 788
877
24 386
12 198
2 194
1 375
1,311
1 883
19, 800
3 4^8
l' 222
1*726
2*841
1 609
549
960
744
3,010
2,777
874
r 24 472
11, 772
2 211
1,289
1,324
1,926
'r19, 743
3 450
r 1 202
r
T
1 742
2, 743
1 618
T 545
r
T 775
3, 009
2, 805
r
974
r
r
r
r
11,134
1 855
1,169
r
'1,184
3,171
2,265
12 187
2 823
9 364
2,571
2, 451
r 12 700
2 822
r
9, 878
75, 220
71 882
8,597
6.226
11,419
11,115
75, 662
72 305
8 465
6 383
11,512
10 942
74, 478
71 956
8, 406
6 335
11, 501
10 651
r
27, 912
6,613
3,338
28 587
6,417
3 357
28, 249
6,112
3,223
r
1, 999
r
2, 481
2, 445
2, 167
11,654
r
12 284
2 784
2 525
9, 130
T
73, 163
r
70 049
T
8, 125
T
6 209
r
r
23 847
11 564
1 807
1 488
1,433
1 701
r
r
r
549
991
768
2,936
2,743
879
22 788
T
19, 497
3 308
1 179
1 776
2 660
1 706
2,969
9,500
71,527
68 654
7,945
6 284
11,241
11,361
10 438
10 026
28 081
27 137
5,901
r
5,954
3, 114
2,873
BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURN-OVER
Operating businesses, end of quarter, total
Contract construction
ATanufacturiri 0 "
Service industries
Retail trade
Wholesale trade
All other
thous
do
do
do
do
do
do
4,014.0
380. 3
304 3
859 6
1,664.0
208 4
597.5
4, 035. 9
390. 6
305. 1
863.2
1, 663. 9
210.0
603.2
P 4, 044. 2
v 398. 7
?303 6
f 863. 9
v 1,661. 3
•P 210. 8
T 605. 9
New businesses quarterly total
Contract construction
Manufacturing
Service industries
Retail trade
\Vholesale trade
411 other
do
do
do
do
do
do
do
82 4
12.8
8.8
15. 3
29. 1
3 9
12.5
122 8
24.2
12.9
21 2
41.6
5.3
17.6
110.6
22.2
10.8
18.6
39.6
4.6
14.8
Discontinued, businesses, quarterly total
Contract construction
do
do
do
do
do
do
80
11
9
13
33
3
8
6
6
9
7
6
1
8
100.8
13.9
12 1
17.6
41 6
37
11.9
p 102. 4
P 14. 1
p 12 3
p 17.9
p42. 2
v3 8
v 12. 1
do
83 7
130 2
101 0
Service industries
Retail trade
^Vholesale trade
All other
Business transfers quarterly total§
___ _ _
—
BUSINESS INCORPORATIONS^
6,913
8,357
7,138
7,902
8,284
7,915
7,819
7,549
7,088
7,529
8,223
number. do
do
..do. ...
do
do
612
48
71
131
296
66
671
50
68
143
348
62
619
52
70
133
304
60
715
55
72
148
371
69
780
58
93
171
375
S3
638
60
75
111
333
59
671
52
78
128
340
73
580
41
48
133
299
59
594
51
58
109
316
60
539
36
50
107
288
58
thous. of doL
do
do
do
do ..
do
19, 403
1,874
2,251
6,515
5,177
3,586
26, 208
4,249
2,672
8,365
7,761
3,161
19, 474
1,649
1,935
5,614
6, 548
3,728
29, 232
4, 563
2,485
13, 046
6, 905
2, 233
29, 530
1, 744
3,853
12, 633
7,050
4,250
21, 193
1,219
2,646
10, 217
5,264
1,847
21, 222
1,971
2,990
6,971
7,024
2,266
22, 789
1,466
3,196
8,882
5,434
3,811
16, 322
1,809
1.816
5,056
5,255
2,386
20, 138
947
2,729
6,780
5.317
4,365
New incorporations (48 States)
number
r
6, 741
8,213
631
52
88
146
291
54
590
61
62
121
280
66
583
43
76
131
288
45
35, 049
2,175
5,167
13,079
6, 078
8,550
18, 757
3,027
1,588
5,853
5,865
2,424
23, 400
953
5,068
8 458
7,046
1,875
INDUSTRIAL AND COMMERCIAL
FAILURES^
Failures, total
Commercial service
Construction
_
Manufacturing and mining.
Retail trade
Wholesale trade
Liabilities, total
_.
Commercial service
Construction
. _
Manufacturing and mining
Retail trade
TVholesale trade
r
_ _
._
Revised.
p Preliminary.
f Re vised series. See corresponding note on p. S-3.
O Adjusted data for new orders replace the unadjusted series formerly shown; for data beginning 1948, including those for unadjusted unfilled orders ^see pp. 17 and 18 of the November
1952 SURVEY.
9 Includes textiles, leather, paper, and printing and publishing industries; unfilled orders for other nondurable-goods industries are zero.
IFor these industries (food, beverages, tobacco, apparel, petroleum, chemicals, and rubber), sales are considered equal to new orders.
§Revisionsfor 1944—1st quarter 1951 appear in corresponding note in June 1952 SURVEY.
d"Data are from Dun & Bradstreet, Inc.
SURVEY OF CURRENT BUSINESS
February 1953
1952
1951
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
December
S-5
January
February
March
April
May
June
July
August
September
October
November
December
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products § 1910-14=100..
Crops
do
Food grains
do
Feed grains and hay..
do _
Tobacco
do
Cotton
_.do...
Fruit
do
Truck crops ._.
.
do. _
Oil-bearing crops
_
_ do
Livestock and products
do...
Meat animals
__
. do
Dairv products
do...
Poultry and eggs
.
_ _ do
305
280
253
233
440
339
177
331
309
328
379
314
233
300
277
251
234
431
325
171
337
303
320
376
316
200
289
259
249
230
436
313
168
217
296
317
377
317
181
288
265
251
229
435
309
176
265
284
310
372
305
177
290
272
250
229
435
313
179
308
279
306
372
291
180
293
270
245
227
436
303
190
285
280
313
394
281
175
292
277
238
226
437
319
220
250
289
306
380
277
181
295
276
230
227
436
311
214
287
307
312
376
286
208
295
272
236
233
436
319
206
229
310
316
372
295
225
288
264
240
234
428
329
200
182
305
309
349
307
227
282
260
240
219
429
311
215
189
304
301
328
316
228
277
257
248
213
412
288
195
238
300
295
310
318
238
269
257
247
218
428
268
206
256
300
280
291
309
221
275
270
280
276
271
280
276
271
281
273
272
273
273
273
273
274
273
274
271
271
272
269
269
269
268
269
266
267
269
264
Prices paid:
All commodities
1910-14—100
Commodities used in living
do
Commodities used in production
do
All commodities, interest, taxes, and wae-e rates
1910-14=100..
273
272
275
275
271
278
276
271
281
284
287
288
288
289
289
286
286
287
285
282
281
280
Parity ratio9
107
105
100
100
100
101
102
103
103
101
100
99
96
All commodities (U. S. Department of Commerce
index)
1935-39 - 100
210.8
210.9
208.9
208.7
209.7
210.3
210.6
211.8
211.8
211.1
210 7
210. 4
209.6
Coal (U. S. Department of Labor indexes) :f
Anthracite, chestnut
.
1935-39=100
Bituminous all sizes
do
215.2
207.3
215.2
207.3
215.2
207.3
215.2
207.3
213.0
207.3
200.2
205.0
201.0
205.5
206.6
206.8
208.1
207.9
211.6
208 7
219.4
212.1
221.6
213.6
227.9
214.4
Consumers' price index (U. S. Dept. of Labor):
All items
.. --- -- .1935-39=100
Apparel
do
Food
-.do
Cereals and bakery products
do
Dairy products
do
Fruits and vegetables
do
Meats, poultry, and fish ,
do
Fuel, electricity, and refrigeration
do
Gas and electricity
...
do
Other fuels
do
Housefurnishings
_
do
Kent
do
Miscellaneous ._.
do
189.1
206.8
232.2
190.4
213.2
236. 5
270.1
144.9
97.5
206.6
210.2
139.2
169.1
189.1
204.6
232.4
190.6
215.8
241.4
272. 1
145.0
97.6
206.8
209.1
139.7
169.6
187.9
204.3
227.5
190.9
217.0
223.5
271.1
145.3
97.9
206.7
208.6
140.2
170.2
188.0
203.5
227.6
191.2
215.7
232.1
267.7
145.3
97.9
206.8
207.6
140.5
170.7
188.7
202.7
230.0
191.1
212.6
247.2
266. 7
145.3
98.0
206.1
206.2
140.8
171.1
189.0
202.3
230.8
193.8
210.6
253.8
266.0
144.6
98.2
203.1
205.4
141.3
171.4
189.6
202.0
231.5
193.3
209.8
250.0
270.6
144.8
98.4
203.4
204.4
141.6
172.5
190.8
201.4
234.9
194.4
212.3
253.2
270.4
146.4
98.3
208.4
204.2
141.9
173.0
191.1
201.1
235.5
194.2
213.8
242.3
277.3
147.3
99.0
209.0
204.2
142.3
173.2
190.8
202.3
233.2
194.1
216.7
227 6
277.0
147.6
99.0
210 1
205.0
142 4
173.8
190.9
202.1
232. 4
194.3
218.1
227.3
271.5
148.4
99.0
212.8
204.6
143. 0
174.4
191.1
201.3
232.3
194.3
218.2
236.7
265. 5
149.0
99.4
213.7
204.9
143.9
174.7
U. S. Department of Labor indexes (revised) :f
All commodities
._
1947-49=100..
113.5
113.0
112.5
112. 3
111.8
111.6
111.2
111. 8
112. 2
111.8
111. 1
110. 7
109. 6
Farm products
- do
Fruits and vegetables, fresh and dried.- .do
Grains
do
Livestock and live poultry
do
111.3
117.4
105.1
107.5
110.0
121.5
103.6
106.7
107.8
112. 6
101.7
106. 2
108.2
123.9
102.0
105.2
108.7
127.3
100.9
106. 6
107.9
128.9
98.8
108.9
107. 2
124.2
95.4
107.2
110.2
128.2
94.9
108.2
109.9
124.3
96.9
106.4
106. 6
115.6
96.9
99.3
104.9
111.7
95.0
94.8
'103.6
113.2
96.5
93.0
99.2
112. 3
96.1
86.8
Foods processed
do
Cereal and bakery products
_
do
Dairy products and ice cream
do
Fruits and vegetables, canned and frozen
1947-49=100..
Meats, poultry, and
fish
do
110.7
107.9
113.0
110.1
107.5
113.2
109.5
107.4
115. 1
109.2
107.5
113.3
108.0
107.4
112.2
108.6
107.0
110.6
108.5
106.7
110.1
110.0
106.5
113.8
110.5
106. 4
114.3
110.3
106.5
116.4
108.5
106.4
115.9
107. 7
107. 1
115. 5
104. 3
106.8
113. 0
106.2
113. 6
105.7
113.5
104.8
110.8
104.9
111.0
104.6
109.4
104.2
112.1
103.5
110.1
103.9
110.6
105.1
112.3
105.9
109.4
105. 9
104.1
'106.0
' 102. 0
105.0
93.9
114.6
108.4
120.8
95.2
61.5
108.9
109.9
114.3
106.7
118.1
94.8
56.8
109.4
109.3
114.2
105.9
117.5
93.4
51.2
109.6
108.7
113.8
105.4
117.0
93.1
47.3
109. 6
107.9
113.3
104.8
116.8
92.7
42.6
109. 8
108.0
113.0
104.3
115.1
92.2
47.2
111.5
107.3
112.6
104.3
114.9
92.2
52.0
109.9
107.0
112.5
104.2
114.7
92.1
49.8
110.7
106.9
113. 0
104.0
1 14. 6
92.1
47.5
110.9
106.9
113.2
104.0
114.3
92.1
48.9
111.0
107.0
113.0
103.9
113.9
92.0
51.0
111.0
106.5
112.8
103. 5
112.7
91.9
'53.1
111.1
106. 3
112.9
103.3
112.3
91.3
52.8
113.0
106.1
' 106. 7
'113.6
.
...do..
RETAIL PRICES
r
1
190. 7
201. 1
229.9
194. 5
217.1
236.4
262. 4
149.9
99.6
216.5
205. 3
145. 3
175.0
WHOLESALE PRICEScf
Commodities other than farm products and
foods
. 1947-49 = 100
Chemicals and allied products
do
Chemicals, industrial .
.
_ do.
Drugs, Pharmaceuticals, cosmetics. ..do
Fats and oils, inedible
.
do
Fertili/er materials
do _
Paint and paint materials
.
_ do
Fuel, power, and lighting materials
do
Coal
do...
Flectricity
.
_
do__
Gas
do
Petroleum and products
do
Furniture and other household durables
1947-49=100..
Appliances, household
do
Furniture, household
.. _ _ d o
Eadios, television, and phonographs.. do
107.4
108.9
98.0
106. 6
110.8
107.4
108.8
98.0
106.6
110.8
107.2
108.8
98.0
107.0
110.4
107. 4
108. 7
99.1
105.7
110.6
106.3
104.9
99.1
106.6
109. 5
106.0
104.9
98.0
104.2
109.9
105. 9
105. 3
98.5
102.0
109.6
106.0
106.0
99.1
101.4
109.4
105. 8
106.5
100.7
100.4
108.3
106. 2
107.6
101.3
100.3
108.5
106. 6
113.3
98.5
100. 4
108. 5
' 104. 9
108.1
107.2
116.1
98.5
104.9
107. 9
112.7
108.2
115.1
93.0
112.3
108.0
113.6
93.1
112.4
108.0
113.5
93.1
111.9
107.4
113.4
90.7
112.1
107.8
113.4
90.7
111.7
107.3
113.1
90.7
111.6
106.8
112.7
93.8
111.6
106.8
112.6
93.8
111.5
106. 8
112.5
93.7
112.0
107.3
112.6
93.7
112.0
107.2
112.6
93.7
112.1
107.2
112. 8
93.8
112.3
107. 5
113.0
93.8
Hides, skins, and leather products
Footwear
__ .
Hides and skins
Leather
.
do
_ do
do
do
105.1
116.5
81.7
98.7
102.2
115.9
69.7
97.0
99.5
116.1
63.7
89.5
98.0
115.9
59.6
87.6
94.1
113.9
49.7
84.4
94.7
111.1
58.1
84.5
95.9
111.0
59.5
88.9
96.2
110.6
61.8
89.3
96.5
110.6
64.4
89.3
96.5
110. 6
64.4
89.3
'96.6
110.6
'65.0
'89.9
' 97. 6
111.0
'69.2
' 90.1
99.0
112.0
70.6
92.9
Lumber and wood products
Lumber .
_ do
do
120.3
120.4
120.1
120.4
120.3
120.6
120.5
120.7
120.9
121.3
120.7
121.1
119.9
120.1
120.2
120.4
120.5
120.6
120.4
120.6
120.2
120.2
119.7
120.0
119.7
119.8
r 98. 0
120.8
121.4
121.4
120.7
121.6
121.3
122.0
121.3
'121.4
121.4
121.8
121.6
Machinery and motive products
do
121.5
120.2
121.5
121.8
121.5
121.5
121.8
121.5
121.5
121.6
121.5
121.5
121.6
121.7
Agricultural machinery and equip _ do _
124. 9
125.4
124.6
125.2
124.0
125.4
124.9
125.3
125.3
125.8
Construction machinery and equip do
125.8
126.3
126. 2
119.9
121.5
121.6
121.8
119.8
121.5
120.9
120.8
120.0
119.0
Electrical machinery and equipment-do
119.7
' 119. 5
119.6
120.0
116.5
120.0
119.7
119.7
117.1
119.7
119.7
119.7
119.7
119.7
119.7
Motor vehicles
_
do
119. 7
r
Revised.
1 Index on old basis for December 1952 is 191.0.
§ January 1953 indexes: All farm products, 267; crops, 251; food grains, 245; feed grains and hay, 214; tobacco, 419; cotton. 252; fruit, 208; truck crops, 237; oil-bearing crops, 291; livestock
and products, 281; meat animals, 303; dairy products, 296; poultry and eggs, 218.
9 Ratio of prices received to prices paid (including interest, taxes, and wage rates).
of1 For actual wholesale prices of individual commodities, see respective commodities.
fRevised series. Indexes of retail prices of coal (for residential heating) reflect use of new base period and expansion of city coverage; comparable data are available for various periods back
to 1913 and will be shown later. Revised wholesale price indexes reflect use of new base period, expansion of commodity coverage, and changes in the classification system, weights, and calculation method; for monthly data beginning January 1947, see pp. 22-24 of the Marrh 1952 SURVEY. Revised monthly data for 1926-46 for "all commodities" and "all commodities, except farm
products and foods" are on p. 24 of the June 1952 issue. It should be noted that the revised wholesale price series does not replace the former index (1926=100) as the official index of primary
market prices prior to January 1952.
SUBVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
February 195.3
1952
1951
December
February
January
March
April
May
June
August
July
September
October
November
December
123.9
113 6
127 0
122 5
114 5
124.0
112.7
117.7
124.0
113 6
1277 0
12 3
114 6
124 0
112 7
117 7
115.5
124 9
126.4
126.3
98.6
98.3
98.4
T
139 3
'89.0
112 6
115 9
124 9
127 7
126 3
98 2
98 3
97 7
139 7
87 8
112 6
COMMODITY PRICES—Continued
WHOLESALE PRICE So"— Continued
U. S. Department of Labor indexes (revised) :J— Con.
Commodities other than farm prod., etc.— Con.
Metals and metal products
1947-49=100.Heating equipment
do
Iron and steel
, __do
Nonferrous metals
do
Nonmetallic minerals structural
do
Clay products
- _ —do
Concrete products
do
Gypsum products
_ _ do__
122. 5
114.5
123. 1
124.2
112 8
121,4
112.4
117.7
122.4
114.0
123.1
124.2
112 9
121.4
112.4
117.7
122.6
114.0
123. 2
125.0
112 9
121.4
112.4
117.7
122.6
114.0
123.2
124.9
112.9
121.4
112.4
117.7
122. 5
113.9
123.0
124.8
112.8
121.3
112.4
117.7
121.8
113. 7
122.8
122. 0
112.9
121.4
112.4
117.7
121.1
113.5
122.4
120.0
113.8
121.4
112.4
117.7
121.9
113.6
122.3
124.0
113.8
121.3
112.4
117.7
124. 1
113.7
127.2
124.4
113 8
121.3
112.4
117.7
124.6
113.7
127. 5
124.7
113 8
121.3
112.7
117.7
124.1
113 7
127.3
122 9
114 4
124.0
112.7
117.7
Pulp, paper, and allied products . .....do...
Paper
do
Rubber and products
- do
Tires and tubes
do__
Textile products and apparel
do
Apparel
. _ _ _ _ do_,.
Cotton products.
.
do
Silk products
do
Synthetic textiles
....
do
118.4
122. 4
144.3
133.4
104. 0
102. 1
103. 3
125 3
91.7
120 3
118. 2
122.8
144.1
133.4
103.3
101.7
102. 8
126. 0
91.4
118 0
118.3
123.7
143.1
133.4
102.1
101. 7
101.0
130. 2
89.9
114.4
117.7
123.8
142.0
133. 4
100.6
101.6
99.6
129.1
87.3
111.8
117.4
123.5
140. 6
133.0
99.9
101.2
98.6
128.4
86.7
109.2
116.9
123.5
140. 4
133.0
99.3
100. 8
97.2
128.8
86.8
111.7
116.7
124.2
133.4
130.5
99.0
100.3
95.4
129.8
88.6
112.8
115.3
123.8
130.0
129.6
98.9
99.5
96.1
134.7
89.2
113.9
115.6
124.0
127.8
126.3
99.1
99.1
97.6
139 3
90.5
113 3
115.6
124.0
126.3
126.3
99.5
99.3
98.9
139 3
89.9
112 4
115.5
124.9
126.0
126.3
99.2
98.4
99.2
140 0
89.5
113 2
Tobacco mfrs. and bottled beverages.- -.-do
Beverages, alcoholic
do
Cigarettes
_. -do_ ...
108. 1
105. 9
105.0
108.1
105. 9
105.0
110.8
111.2
105.0
110.8
111.2
105.0
110.8
111.2
105.0
110.8
111.2
105.0
110.8
111.2
105.0
110.8
111.2
105.7
110. 8
111.2
105.7
110.8
111.2
105.7
110.8
111.2
105.7
110.8
111.2
105. 7
110.8
111 2
105.7
46.0
52.9
43.1
46.3
52.9
43.0
46.5
53.2
44.0
_.
46. 5
53. 2
43. 9
46. 7
53.0
43. 5
46.8
52 9
43.3
47.0
52.7
43.2
46.7
52.4
42.6
46.6
52 3
42. 5
46.7
52 4
42.9
47.0
52 4
43.0
47.2
52 3
43.0
47.7
52 4
43.5
3,098 |
3,011 i
2,787
2, 513
2,030 i
1,049 !
935 i
96 ;
1,988 I
1,048 '
935;
95 1
1,924
1.033
925
90
1,789
953
865
70
430 !
187 I
101 i
168
376
434
189
104
139 i
360 |
435
190
109
117
331
421
187
107
103
304
49 i
332 i
117 |
215 i
70 i
SO
724
47
314
107
120
62
74
T
r
PURCHASING POWER OF THE DOLLAR
As measured byWholesale pricest— —
. — --. .1935-39=100..
Retail food prices
do
__
;
1
...
. -
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY 9
New construction, total
mil. of dol.
Private, total
do....
Residential (nonfarrn)
....do
New dwelling units
do
Additions and alterations
do
Nonresidential building, except farm and public
utility, total-.--.
—..mil. of doL =
Industrial——-------. ——.
do__._
Commercial—,,.
.
_ ——.._do.....
Farm construction___ — _—...- — — — — - - - - d o , _ . _
Public utility—. — — — — -do—.
Public, total.... ———.-do_.
Residential-- — —
..._.—
..do..
Nonresidential building—.___—_,........do..
Military and naval
_.._
_._.do_
Highway
.
.
..do.
Conservation and development.
do.
Other types.-....
...do.
2,366
2,174
2,088 !
2,332 !
1,674
840
760
66
1,517 !
719 !
650 '
56 |
1,463 i
676 i
600
63
1,617 ;
415
200
92
415 i
209
83
110
267
no
303
66
289
88
111
72
66
406
209
799
710
398
202
74 :
123 i
2,516 i
1,690 i!
849
750
2,743
2,945
1,811 !
922 ;
810 :
99
386
194
292:
715 !;
55
311
100
115
657
ti3
286
91
90
62
54
343
109
1,068
53
369
127
350
79
90
54
351)
116
250
72
84
1,023 !
52 i
352
125
330
'77
87
CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.):
28,832
Total projects
.
numberTotal valuation
thous. of doL 1,234,339
502,416
Public ownership
do_-_
Private ownership
do.. . 731,923
Nonresidential buildings:
number.
Projects
.-thous. of sq. ft.
Floor area
thous. of dol.
Valuation
Residential buildings:
number.
Projects
..thous. of sq.ft.
Floor
thous. of doL
Valuation
Public works:
number.
Projects
-.
Valuation
.— -_,thous. of doL
Utilities:
number..
Projects
thous. of dol..
Valuation
Value of contract awards (F. R. indexes) :f
Total, unadjusted
1947-49=100..
Residential, unadjusted
do....
Total, adjusted
do—
Residential, adjusted
— .do....
Engineering construction:
Contract awards (ENR)§
31,842
902, 091
296,897
605,194
50,097
63, 709
50,845
52,078
52.909 ! 47,006 ! 50,542 | 41,569 ! 34,661
33, 76?
45, 041
885,206 11,321,254 1,597,517 1, 563,660 1,488,850 1,511,285 jl, 438, 725 | 2,039,203 j 1,310,958
! 1,248, 803 1, 467,384
557,803 559,140 I 618, 737
338, 662
554, 050 636,357
501, 258 11, 269, 355 ; r 410, 433
490, 650 i 477, 693
546,544 767,204 961,160 1.005,857 929,710 892.548 937, 467 jr 779,848 i 890,525 758,153 989,691
3,262
43,016
593, 007
3, 325
24, 868
357,676
3, 472
24,941
301, 404
24, 204
37,985
346,104
27, 380
37, 423
337, 721
29, 069
45, 380
396,438
1,064
138,859
840
130,814
930
124, 885
302
156, 369
297
75,880
296
62, 479
134
124
166
145
132
118
161
142
136
145
156
163
i
-—thous. of dol.-j 829,173 1,196, 798
4,311
33, 345
463, 276
4,449
39, 343
562, 256
1, 429
193,714
5, 088
37,346
462, 863
5,022
41, 725
551, 500
43, 447
73,847
681, 61,4
43, 465
64,003 j
608,078 |
1,814
241, 740
2, 680 I
1,838
2,310 i
243,458 ! 208,887 i 176, 652
509 !
441 |
387 j
545 i
71,547 : 111,907 i 127,414 i 109,589 !
166
183
164
174
I
i
j
i
5,161
38,822
470,520
196
222
171
189
203
221
168
186
200
213 i
172 |
193 i
465
97,063
194
199
177
196
40, 440
56, 743
518,471
400 |
439
82,302 I 71, 713
218 ;
192 I
207
193 ,
43,312 j 35,487 ! 29, 808
55,872 i 48. 996
65.489
438, 580
528,429
602,313
1,665
152, 455
1,336 |
911
195,265 ; 134,114
404
85, 670
364 \
353
63,633 i 185, 590
209
192
207
191
200 i
180
'210
185
••177
!
T
172 |
'196 !
'178 i
164
152
202
178
788,429 11,042,851 ! 1,180, 340 11,433,642 j 1,140,654 i 2, 310, 504 12,210,572 j 952,218 1,446,381 ,1,079,879 j 906.976
Highway concrete pavement contract awards:©
|
6,587 i
7,047
5,386 i
6,702 i
6,081
5, 537
5,411 !
3,487 !
Total
thous. of sq. yd.-! * 4,159
l
729
791 !
843 1
1,070 i
1,691 !
427 !
238 I
621
Airports
—
----—do—j
413
3,401 ;
2,657
2,652 !
1,051 i
3,289 ;
3,128
2,901
1,497 I
Roads
—.
do— 1* 2,197
2,359
I
2.803
3,201
2,795
\
2,783
i
1,695
!
2,248
1,856 !
1,369 i
Streets and alleys.
do
1 1,549
r
1
Revised.
Data include some contracts awarded in prior months but not reported.
cPFor actual wholesale prices of individual commodities, see respective commodities.
JSee note marked " t" on p. S-5.
fRevised series. Purchasing-power data are based on revised price indexes shown on p. S-5; for revisions through 1951, see p. 24 of the June 1952 SURVEY.
reflect use of new base period; revisions prior to 1951 will be shown later.
.
9 Revisions for January-March 1951 (except for grand total, total public, and military and naval, which have been further revised) are shown at bottom
SURVEY; revisions for 1947-50 and for January-August 1951 (for the three series aforementioned) will be shown later.
§Data for January, May, July, and October 1952 are for 5 weeks; other mouths, 4 weeks.
QData for January, May, July, and October 1952 are for 5 weeks; other months, 4. weeks.
4,382 ;
3, 589
39,788 i 51,596
461,476 i 709,100
5,258
1,512
1.486
2,259
2,571 f
390 !
1,193 '
i 4, 675
446
' 2, 775
1
1,454
Indexes of contract awards
, « , . , ,
of p. 8-4 of the June 1952
SURVEY OF CURRENT BUSINESS
February 1953
1951
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
December
S-7
1952
January
February
March
April
May
June
July
August
September
November
October
December
CONSTRUCTION AND REAL ESTATE— Continued
NEW DWELLING UNITS AND URBAN
BUILDING
New permanent nonfarm dwelling units started
(U S Department of Labor)
.--numberUrban building authorized (U. S. Dept. of Labor):
New urban dwelling units, total
number. .
Privately financed, total
do
Units in l-family structures. ._
do
Units in 2-family structures
do ...
Units in multifamily structures
do
Publicly financed, total
_
do -.
Indexes of urban building authorized:f
Number of new dwelling units
1947-49 = 100-.
Valuation of building, total
do
New residential building
do
New nonresidential building
do
Additions, alterations, and repairs
do
r
i 76, 000
60, 800
64, 900
77, 700
103,900
106, 200
109,600
103, 500
102, 600
99, 100
100, 800
101, 100
86, 000
27, 807
26, 782
21, 224
1,700
3, 858
1,025
37, 659
34, 374
28, 376
2, 386
3, 612
3, 285
45, 676
43, 163
34, 978
3,017
5, 168
2, 513
57, 937
49, 845
40, 139
3, 469
6, 237
64, 867
56, 241
45, 938
3, 558
55, 075
48, 850
41, 084
3, 060
52, 126
50, 584
8,064
6, 225
1,542
5, 673
1,418
r 53, 971
52, 347
42, 620
2,713
7,014
8,092
53, 296
51, 878
42, 352
3,078
6,448
1,418
r 1, 624
' 41, 721
37, 975
30, 745
2,447
4,783
' 3, 746
37, 508
33 902
26' 356
4,706
41,804
2,930
5,850
49, 250
47, 832
38, 867
6,745
8,626
61, 436
53, 372
43, 644
3, 532
6,196
61.3
82.1
91.8
99.7
80.8
87.8
100.9
107.5
126.2
81.4
97.4
130.1
140.7
166. 1
110.3
115.1
142.5
152.3
183.8
115.6
118.6
129.5
147.0
171.2
113.5
133. 2
121.8
157.0
161. 7
152.7
149.4
116.0
145. 6
150.9
139. 9
138.7
108.2
133.8
139.4
128.6
124.6
117.1
143. 0
155.2
127.8
132.9
119.9
147.8
161.2
132.9
131.9
'88.9
'114.3
' 117. 9
' 114.6
' 100. 0
82.7
107. 1
106. 3
115. 1
91.7
117.5
374
118.4
118.3
118.6
374
119.5
119.7
120.8
383
121.8
122.4
122. 7
383
122.6
122.5
122.5
383
539
573
548
494
533
380
542
581
549
497
535
380
543
581
550
497
535
378
544
582
551
498
537
378
545
582
552
499
541
379
548
584
554
504
543
381
550
588
554
504
544
382
555
600
554
513
549
391
558
602
555
513
549
393
561
604
556
514
551
394
562
604
557
521
551
397
564
604
572
521
551
398
567
604
573
522
558
399
235.9
237.2
237.0
237.9
248.0
236.7
237.4
247.8
237.2
237.7
248.0
238.3
238.5
248.9
239.4
239. 2
249.5
242. 1
241.3
251.9
243.5
242.9
252.7
245.3
244.5
253.8
246.0
245.2
254.4
246.4
245.5
254.2
246.4
245.3
253.4
245. 1
253. 3
239.2
238.0
243.8
239.0
237.9
243.7
239.7
238.3
244.0
241.0
239.3
242.2
240.7
245.3
243. 4
245. 8
247.8
246.8
245.7
248.8
251.9
251.5
222.7
223.3
226. 1
255. 8
226. 4
256. 4
222.6
251.5
222. 4
248.6
247.5
249.8
257.0
229.5
231. 2
249.4
248.5
250.5
257.3
232.2
249.8
' 248. 2
250. 5
256. 8
232. 4
249.7
' 248. 0
250. 0
255.8
232.3
249. 8
248. 5
245. 1
252.1
247.3
245.4
248.5
246.5
248.3
246.2
248.5
246.2
249.4
246.9
250.0
252. 5
253. 3
247. 4
249.8
251.1
254. 8
251.5
254.6
251.2
253.8
250.3
253.7
250.4
254.2
120.0
120. 9
120.1
121.3
120.5
121. 5
120.6
122.3
121. 3
123.0
122.0
124.0
122.6
126.0
124.9
128.9
125.6
129.5
125.6
129.9
126.0
129.9
' 125. 7
129.7
125.7
129.6
r
75^4
''82.6
'76.0
3,292
2,585
4, 961
3,606
CONSTRUCTION COST INDEXES
Department of Commerce composite t- 1947-49=100-Aberthaw (industrial building)
.1914=100-American Appraisal Co.:
Average, 30 cities
1913=100-.
Atlanta
_ _,
do
New York
_ do
San Francisco - _ _
- __
do
St. Louis
do
Associated General Contractors (all types), .-do
E. H. Boeckh and Associates, Inc.:§
Average, 20 cities:
Apartments, hotels, and office buildings:
Brick and concrete. -U. S. avg. 1926-29= 100. .
Brick and steel
do
Brick and wood
..
__
do _Commercial and factory buildings:
Brick and concrete
do
Brick and steel
do
Brickandwood
do.- Frame
do ...
Steel
. _ _.
do
Residences:
Brick
do
Frame
do
Engineering News-Recorded"1
Building
..
1947-49=100-.
Construction
- do
Bu. of Public Roads— Highway construction:
Composite standard mile
1925 29 — 100
246. 9
237.7
237.0
242. 7
250. 5
221. 9
252.8
169.1
166. 7
249.9
255. 5
232.3
250. 1
176.0
174.9
171 8
246.3
CONSTRUCTION MATERIALS
Production of selected construction materials, index:J
Unadjusted
1939 — 100
Adjusted
do
r
131.9
' 149. 2
' 138. 9
' 162. 6
r 138. 7
' 168. 1
' 149. 4
' 158. 1
' 156. 2
«• 157. 1
' 156. 9
148. 3
r
' 149. 2
* 139. 4
' 149. 7
' 140. 7
' 173. 6
' 153. 4
' 177. 6
' 165. 2
' 184. 6
' 166. 6
P 155. 4
v 156. 8
REAL ESTATE
Home mortgages insured or guaranteed byFed. Hous. Adm.: New premium paying
125, 629
127, 751
123, 807
177, 097
134, 248
147, 208
159, 063
125, 363
162, 487
185, 442
157, 428
147, 057
thous. of doL- 124, 701
244, 042
202, 758
235, 651
195, 987
242, 103
243, 087
226, 936
189, 189
217, 292
220, 008
267, 958
301, 276
202, 746
Vet. Adm.: Principal amount
do
Federal Home Loan Banks, outstanding advances
791
864
581
591
589
752
653
656
665
612
806
715
687
to member institutions . .,
mil. ofdol..
New mortgage loans of all savings and loan associa541, 295
522, 681
549, 140
586, 035
586, 842
514, 098
595, 994
616,352
658, 787
617, 431
400, 443
427, 835
404, 033
tions, estimated total
-_ thous. of doL_
By purpose of loan:
161, 405
182, 636
163, 074
197, 525
191,812
171, 907
192, 667
207, 589
115, 168
190, 039
199, 720
131, 487
125, 287
Home construction
do
238, 587
251, 884
243, 112
248, 448
257, 069
264, 692
213, 723
183, 733
185. 920
303, 107
279, 192
182, 710
285, 337
Home purchase
.„
.do
49, 446
49, 104
42, 379
49, 739
50, 076
49, 595
53,014
37, 9G6
43, 397
50, 457
54, 597
37, 322
50, 850
Refinancing do
21, 797
24. 452
18, 959
19, 730
24, 238
25, 065
15, 033
15, 567
20, 148
12, 895
26, 097
25, 997
24, 625
Repairs and reconditioning .
do
56, 674
60, 405
62, 098
51, 464
64, 128
45, 819
48, 603
63, 184
61,794
53, 968
63, 044
67, 497
61, 973
All other purposes
do
New nonfarm mortgages recorded ($20,666 and
under), estimated total
thous. of doL. 1, 308, 151 1, 298, 254 1, 270, 908 1, 393. 317 1, 482, 161 1, 511, 488 1, 512, 734 1, 590, 319 1, 597, 783 1, 587, 523 1, 727, 343 '1,492,390 1, 553, 457
11.3
11.1
11.7
12.1
11.6
11. 1
12.4
11.1
11.5
11.7
Nonfarm foreclosures, adjusted index. 193 5-39 =100. .
62, 354
72, 254
67, 380
69, 925
58, 585
74, 155
74, 127
61, 675
58, 949
65, 129
68, 206
63, 958
56, 462
Fire losses
thous. of dol..
DOMESTIC TRADE
ADVERTISING
Printers' Ink advertising index, adjusted:
Combined index
1935-39=100
Business papers..
_.
do ..
Magazines ,
do
Newspapers - . . _ _ _ _ _ . _
_ _ -do ..
Outdoor
...do
Radio.-- . ..
do ..
Tide advertising index, unadjustedf.- 1947-49= 100. .
Radio advertising:
Cost of facilities, total
thous. of dol..
Automotive, incl accessories
do
Drugs and toiletries
do
Electric household eQiiipment
do
Financial
do
Foods soft drinks confectionery
do
Gasoline and oil
do
Soap, cleansers etc
do
Smoking materials
do
All others
.
_..do
J Data for January
435
470
357
304
352
253
117.2
453
481
379
293
346
244
115.6
447
487
369
304
401
253
127.7
438
511
371
300
362
248
141.3
439
514
404
294
362
247
153.2
433
515
388
310
354
236
154.1
436
520
362
329
372
241
140. 8
445
554
403
327
359
226
114.2
14, 619
464
3,751
147
326
14, 520
407
3, 993
224
359
3, 917
475
1, 592
1,772
1,781
13, 561
276
3,691
204
353
14, 520
329
3,949
204
348
3,862
493
1, 558
1,632
2,145
13, 948
319
13, 970
370
3,847
3,885
9, 557
196
171
356
153
365
3,802
3,734
12, 972
345
3,612
251
343
3,233
2,604
431
1,624
1,596
1,801
424
1,698
1,546
1,795
452
1,660
1,416
1,659
381
1,079
700
1,263
4,090
512
1,432
1,794
2,102
1953, 71,000.
3,792
447
1,482
1,590
1, 726
2,658
340
338
456
548
369
310
383
254
111.2
10, 941
256
3, 003
316
367
2,971
434
r
I, 257
776
1,559
r
456
547
387
318
344
264
141.9
473
570
408
330
371
256
157.6
475
529
420
340
378
268
165.4
' 12, 857 ' 15, 403
323
'396
' 3, 254 ' 4, 282
304
431
331
308
3,319
'
3,
683
?
455
'376
' 1, 623
' 1, 704
1,042
1,292
2,206
' 2, 930
488
539
394
323
373
265
127.3
14, 279
640
3,770
387
285
3,424
366
1,482
1,271
2,655
r urban building and
SURVEY OF CURRENT BUSINESS
S-8
1952
1951
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
December
February 1953
January
February
March
April
May
June
July
August
September
October
November
DOMESTIC TRADE—Continued
AD VERTI SING—Con tinued
Magazine advertising:!:
Cost, total
thous. of dol
Apparel and accessories
do
Automotive, incl accessories
do
Building materials
do
Drugs and toiletries
do
Foods soft drinks confectionery
do
Beer wine liquors
do
46, 113
3,333
2,985
865
5,698
6,247
4,443
31, 904
1,673
2,476
1,208
4,543
4,692
1,590
44, 629
3,108
2,878
1,919
6,107
7,147
2,290
60, 247
5,420
5,095
3,054
7,065
7,854
2,851
59, 648
5,029
4,999
3,683
6,469
7,150
2,477
60,016
4,735
5,237
3,296
6,166
6,742
2,619
51, 515
3,119
4,925
2, 842
7,051
7,660
2,331
35, 240
862
3,702
1,388
5,816
5,695
1,977
38, 442
3,588
3,671
1,549
5, 456
5,472
1,672
56, 978
6,469
4,366
3,127
6,653
6,883
2,388
63, 494
5, 250
4,775
3,139
7,556
9,047
2,924
63, 849
4,296
5,102
2,363
7,657
8,753
3,250
3,136
2,099
2,891
854
1,532
12,028
762
1,176
2,372
736
1,088
9, 588
2,167
1, 521
2,887
971
1,209
12, 424
3,970
2,709
3,769
1,356
1,357
15, 748
4,401
3,644
3,872
1,466
1,259
15, 199
5,004
3,867
4, 016
1,376
1,395
15, 564
3,407
1,788
3,572
941
1,566
12,311
1,646
579
2,643
745
1,198
8,989
1,375
979
2,861
774
1,398
9,648
3,688
2,747
3,774
1,266
1,437
14, 182
4,590
4,015
3,981
1,509
1,480
15, 228
4,171
3,290
4,175
1,429
1,527
17, 838
3,346
3,466
3,985
4,855
4,468
4,093
3,213
3,133
3,960
4,798
4,898
4,299
3,162
do .__
do
do
do
do
do _ _
do
214, 041
42. 998
171, 043
6,559
2,526
25, 044
136,915
178,077
46, 345
131, 731
8,208
3,663
21, 020
98, 840
184, 640
46, 621
138,019
7,889
2,282
25, 749
102, 100
213, 228
52, 943
160, 285
8,553
2,756
30, 203
118, 773
218, 407
52. 790
165, 617
9,565
3,133
31, 742
121, 177
225, 606
56, 670
168, 936
10. 457
2,684
33, 444
122, 352
209, 251
52, 744
156, 506
10, 288
2,762
31, 251
112, 204
175,447
47, 979
127, 468
7,351
3,046
25, 674
91, 398
186, 555
52, 741
133, 814
7,781
1,894
22, 061
102, 077
214, 509
54, 124
160, 385
7,367
2,596
29, 711
120, 709
245, 004
56, 593
188, 410
10, 383
2,518
39, 411
136, 098
234, 873
52, 399
182, 474
10, 734
2,400
34, 359
134, 981
219, 798
45, 563
174, 235
8,847
2,550
24, 506
138, 332
thousands _ _
thous. of dol
7,271
124, 214
7,268
130, 038
6,948
124, 086
8,025
147, 902
7,255
132, 616
6,719
123, 981
6,511
122, 134
6,242
119, 289
6,174
119, 935
6,711
127, 034
6,764
125, 622
6,275
114, 728
7,299
131, 677
Household equipment and supplies
Household furnishings
Industrial materials
Soaps cleansers, etc
Smoking materials
All other
Linage, total
. .
Newspaper advertising:
Linage, total (52 cities)
Classified
Display total
Automotive
Financial
General
Retail
do
do
do
do
do
do
»
_ _ thous. of lines-
-
--
--
POSTAL BUSINESS
Money orders issued (50 cities):
Domestic:
Number
_ Value
PERSONAL CONSUMPTION
EXPENDITURES
Seasonally adjusted quarterly totals at annual rates :J
UUTdUie gOOUb, U d
-
- -
Furniture and household equipment- _ -do
<UJOiniilg dilU .. Ot-b
Lrdboiine dim on_ _ _
-_ --
-
-
.
210.5
213.2
214.9
215.0
222.0
25.3
9.5
11.6
4 3
25.2
9.6
11.3
4.3
26.4
11.3
10.8
24.2
88
11 2
4.3
27.3
11.2
11.7
4.5
116.2
20.7
70.4
5.6
2.0
4.9
12.5
118.0
20.6
71.8
5.9
2.0
5.2
12.5
117.8
20.0
72.3
6.0
2.0
118.9
20.3
73.2
121.4
21.9
73.5
6. 3
2.0
5.2
12.5
69.0
10.6
22.5
4.1
4.0
5 7
22.0
70.0
10.7
22.9
4.2
4.1
5.9
22.3
70.8
10.9
23.2
4.3
6.1
2.1
51
12.1
5.1
12.4
73.3
11.2
24.0
4.3
4.2
6.0
23.6
71.9
10.9
23.5
4.3
4.3
4.2
4.1
5.8
5.9
22.5
22.9
RETAIL TRADE
All retail stores :t
Estimated sales (unadjusted), total., .mil. of doL~
Durable-goods stores
do
Automotive group
do
Motor-vehicle, other automotive dealers
mil. of doLTire battery accessory dealers
do _
Furniture and appliance group
do
Furniture, homefurnishings stores
do
Household-appliance, radio stores
do
Jewelry stores
do
Lumber, building, hardware group
do
Lumber, building-materials dealers. _do —
Hardware stores
do ..
Nondurable-goods stores
Apparel group
IVTen's and boys' wear stores
Women's apparel accessory stores
Family and other apparel stores. ._
Shoe stores
Drug and proprietary stores
Eating and drinking places
do
do
do
do
do _.
do
do
do
Food group
do
Grocery stores
do
Gasoline service stations
do
General-merchandise group
do
Department stores, excl. mail -order _ _ do
Mail-order (catalog sales)
do
Variety stores
do
Other general-merchandise stores
do
Liauor stores
_ --do
!
15,375
4,543
1,961
11,844
3,793
1,974
11,744
3,867
2,020
12, 736
4,139
2,180
13, 396
4,573
2,372
14, 350
5, 224
2,826
13, 814
5, 122
2,757
13, 396
4,627
2,374
13, 448
4,410
2,103
13, 620
4,670
2,353
14, 819
5,116
2,681
1,778
183
921
515
405
319
784
493
291
1,840
134
635
362
273
87
633
467
166
1,899
121
618
352
266
80
673
503
170
2,048
132
629
373
256
82
742
552
190
2,219
154
647
392
255
90
869
640
229
2,647
179
738
456
282
117
941
697
244
2,582
175
740
442
298
108
939
706
233
2,200
174
713
419
294
95
923
709
214
1,929
174
754
468
286
104
905
689
216
2,179
174
756
445
311
100
924
700
224
2,509
172
834
495
339
123
961
728
233
T
' 126
'812
' 593
' 219
2,133
210
1,051
588
463
284
837
551
286
10,832
1,380
381
512
311
176
490
1,047
8,050
692
169
286
140
97
366
958
7, 877
610
140
262
117
91
383
946
8, 596
779
165
336
152
126
379
1,002
8,823
910
186
380
180
164
370
992
9,126
871
192
352
172
154
386
1,059
8,692
832
198
308
178
148
380
1,064
8,769
700
161
274
142
124
388
1,130
9, 038
770
163
316
156
136
392
1,149
8,950
910
196
365
184
165
374
1,114
9.703
1, 023
240
411
221
151 !
401
1,122
' 9, 509
' 1,018
'274
-•384
'216
'144
'385
' 1, 044
11, 684
1,593
464
551
367
211
519
1,108
3,418
2,736
816
2,515
1,358
155
486
517
347
3,083
2,489
726
1,190
652
90
174
274
210
3,026
2,467
716
1,164
616
93
191
263
225
3,253
2,627
762
1,324
730
94
214
286
240
3,248
2,601
781
1,467
815
99
244
309
241
3. 419
2,792
834
1,531
871
94
240
325
266
3,228
2,644
847
1,444
808
98
224
314
235
3,397
2,764
905
1,269
667
86
212
304
254
3,453
2,820
915
1,450
783
104
236
328
260
3,242
2,641
860
1,523
857
117
225
324
250
3,440
2,787
902
1, 773
979
137
258
398
283
' 3, 427
' 2, 763
' 852
' 1,
769
r
978
'139
'257
' 395
'289
3,561
2,871
854
2,774
1,506
191
511
566
420
' 14, 024
'T 4, 514
2, 319
2, 166
••153
'823
r
481
' 342
;
16, 793
5,109
2,344
lUnpublished revisions for magazine advertising for January, February, March, and October 1950 and January, February, September, October, and November 1951 are available upon
..quest Revisions of personal consumption expenditures (1949-51) are shown on p. 20 of the November 1952 SURVEY.
reqi
tRevised series Beginning with the September 1952 SURVEY, retail sales data have been replaced by a new series based on new sampling procedures developed by the Bureau of the Census.
The new estimates'begin with January 1951: see pp. 16 ff. of the September 1952 SURVEY for figures covering the entire year 1951 for both the new and old series and for discussion of the new
data.
S-9
SUEVEY OF CUKEENT BUSINESS
February 1953
1952
1951
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
December
January
Febru-
ary
March
April
May
June
July
August
Septem-
October
Novem-
Decem-
' T14, 003
4, 766
r
2, 553
r
2,r 393
160
T
794
M68
r
327
14, 322
4 808
2 581
2,411
170
ber
ber
ber
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
All retail stores— Continued
Estimated sales (adjusted), total t
mil. of dol._
Durable-goods stores
do
Automotive group
do
Motor-vehicle, other automotive dealers.do
Tire, battery, accessory dealers
do
Furniture and appliance group
do
Furniture, homefurnishings stores
do
Household-appliance, radio stores
do
13, 067
4,251
2,143
1,992
151
705
419
286
13, 154
4, 366
2,134
1,968
166
746
436
310
13, 406
4,611
2,313
2,147
166
741
430
310
13, 020
4,314
2,099
1,938
161
714
423
291
13, 348
4,496
2,304
2,148
156
685
412
274
13,838
4,931
2,672
2, 505
166
726
433
294
14, 000
4,887
2,571
2,407
163
768
450
318
13, 648
4,494
2,258
2,102
156
744
435
308
13, 343
4,200
1,922
1,758
164
745
448
297
13, 558
4,508
2,297
2,129
168
726
415
310
14, 187
4 846
2,648
2,494
154
752
448
304
117
780
554
226
119
813
591
222
117
889
662
226
117
860
633
226
117
853
632
222
122
837
620
217
118
873
647
226
120
869
660
209
122
859
642
217
121
831
614
217
129
833
618
215
8,816
869
200
350
179
140
392
1,033
8,788
871
205
348
182
136
391
1,037
8,795
836
198
340
165
133
394
1,058
8,707
823
193
328
171
130
389
1,038
8,851
854
188
353
179
135
387
1,039
8,907
848
196
335
181
136
386
1,064
9,113
910
203
357
207
143
390
1,060
9,154
876
208
349
182
138
389
1,069
9,142
889
204
359
187
139
394
1,067
9, 050
865
210
344
169
142
384
1 048
9,341
925
224
359
193
149
399
1 062
r
3,210
2,597
791
1, 538
837
109
237
355
225
3,202
2,589
794
1,503
828
108
237
331
242
3,200
2,586
801
1,506
815
110
243
339
252
3,202
2,587
797
1,455
803
100
238
314
247
3,271
2,636
810
1,474
800
105
244
325
263
3,256
2, 641
805
1,537
853
109
252
323
269
3,341
2,728
820
1,584
877
116
254
338
270
3,402
2,756
832
1 526
826
117
251
331
273
3,345
2,713
841
1 607
891
115
261
340
263
3 398
2,768
846
1 509
833
107
246
322
267
3 418
2 770
854
1 629
898
114
259
357
278
T
19, 530
9,200
10, 330
19, 685
9,436
10, 249
20, 335
9,625
10, 710
21,228
10,030
11, 198
21, 103
10, 128
10, 975
20, 542
9,689
10, 853
19, 825
9,229
10, 596
19 209
8 621
10, 588
19 279
8 314
10, 965
20 434
8 739
11 695
21 564
9 125
12 439
r
22 129
T
9, 436
' 12, 693
19 789
9*047
10, 742
20, 754
9,726
3,176
1,902
508
2,327
1,813
20, 681
9,775
3,129
1,846
507
2,471
1,822
20, 625
9,789
3,141
1,788
496
2,539
1,825
20, 321
9, 583
3,106
1,709
488
2,494
1,786
20, 477
9, 624
3,200
1,713
488
2,429
1,794
20, 069
9,112
2,888
1,667
479
2,380
1,698
20, 125
9,030
2, 864
1,625
494
2,364
1,683
20, 127
8 749
2 591
1 707
488
2,332
1,631
19, 745
8 626
2,564
1 701
480
2,273
1,608
20, 281
8 956
2 875
1 693
486
2,233
1, 669
20 652
9 175
3 093
1 643
500
2,229
1 710
* 20, 969
' 9, 458
'r 3, 272
1, 643
'499
' 2, 281
' 1, 763
21 055
9 572
3 424
1 643
11,028
2,581
772
2,092
3,248
2,335
10, 906
2,517
766
2,011
3,382
2,230
10, 836
2,537
773
2,036
3,256
2,234
10, 738
2,436
770
2,096
3,248
2,188
10, 853
2,503
782
2,057
3,296
2,215
10, 957
2,583
11, 095
2,636
760
2,110
3,271
2,318
11 378
2 714
790
2 080
3 358
2 436
11 119
2 700
765
2 001
3,276
2 377
11 325
2 748
752
2 099
3,351
2 375
11 477
2 817
799
2 091
3 383
2 387
r
111
2,023
3,295
2,279
11 511
2, 830
'801
r
2, 089
r 3, 424
' 2, 367
11 483
2 767
3,214
270
32
109
76
84
50
30
2,094
128
14
49
38
58
49
20
2,090
119
13
47
37
58
46
22
2,307
157
17
63
48
59
48
26
2,440
198
19
77
67
59
51
24
2,586
176
17
73
57
60
53
31
2,423
173
18
67
60
59
52
26
2 334
132
12
57
45
59
54
23
2 504
142
11
63
48
60
54
26
2 476
175
15
68
60
58
54
26
2 744
191
21
76
53
62
56
30
' 2, 666
'182
3 437
General-merchandise group __ _.. __ -do
Department stores
do
Dry-goods, other g e n e r a l - m e r c h a n d i s e
stores
mil. of dol
Variety stores
_
._ - do
Grocery stores
do
Lumber, building-materials dealers
do
Tire, battery, accessory stores _ __ _ _ do-__
1,196
479
524
226
533
224
604
269
705
318
741
365
711
343
618
284
719
326
735
346
856
396
'835
'366
1,338
187
385
1,018
52
65
77
135
905
49
35
76
146
897
51
36
89
160
970
53
40
107
187
930
63
47
109
180
1,023
71
55
105
170
908
73
59
91
163
954
72
56
112
183
999
76
57
100
180
930
78
49
131
201
1 015
81
54
135
203
207
410
Estimated sales (adjusted), total _
_
do__
Apparel group
do
Men's and boys' wear stores
_ _ do_.
Women's apparel, accessory stores
do. __
Shoe stores
do
Drug and proprietary stores
_
do._.
Eating and drinking places
_ do_ __
Furniture, homefurnishings stores
do
2,423
177
18
73
52
60
48
22
2,411
171
17
68
52
61
50
26
2,417
164
18
64
52
62
49
26
2,352
156
16
61
51
60
48
28
2,442
170
17
68
53
62
51
26
2,469
164
17
67
52
61
53
30
2,553
174
18
70
57
62
52
28
2,511
168
19
71
54
60
54
25
2,562
174
18
73
57
62
53
26
2,537
167
16
65
55
61
54
24
General-merchandise group
do
Department stores
_
do_ _
Dry-goods, other g e n e r a l - m e r c h a n d i s e
stores
-.mil. of dol
Variety stores
do
Grocery stores
_ _
_
_ do_ _
Lumber, building-materials dealers _ _ _ do. _.
Tire, batterv. accessorv stores...
do
713
294
715
336
723
336
680
311
720
322
741
343
766
351
726
325
758
332
723
327
2 613
178
18
71
53
61
54
28
777
350
129
188
936
63
47
93
184
927
61
51
98
185
919
72
50
98
179
919
68
46
113
187
937
65
49
108
189
936
66
52
113
193
959
68
56
99
192
984
66
47
117
202
985
69
52
100
197
1,008
62
49
118
202
1 009
62
52
Jewelry stores
do
Lumber, building, hardware group
do
Lumber, building-materials dealers-^ do
Hardware stores ,
_
._ do _
Nondurable-goods stores _ . _ _ . _ .
Apparel group
Men's and boys' wear stores
.
Women's apparel, accessory stores
Family and other apparel stores _
Shoe stores
Drug and proprietary stores^
. _._
Eating and drinking places
do _.
do
do
do
do _
do
do _
do
Food group
do
Grocery stores
- - . _ _ _ - _ do __
Gasoline service stations
do
General-merchandise group
do
Department stores, excl. mail-order. . do
Mail-order (catalog sales).
_ _ _ _ _ do_ _ _
Variety stores
do
Other general-merchandise stores
do
Liquor stores
_
_do
Estimated inventories:*,?
Unadjusted, total
Durable-goods stores _ _
Nondurable-goods stores
_ .-
do
do
__ do._
Adjusted, total- _
_ _ _ do._Durable-goods stores
do
Automotive group ._- __
do__ _
Furniture and appliance group
do
Jewelry stores
_
_
__
__ do_
Lumber, building, hardware group.- do
Other durable-goods stores
___do
Nondurable-good stores
Apparel group
Drug and proprietary stores
Food group
_
General-merchandise group _ _ _ _
Other nondurable-goods stores
do
do_ _ _
do.__
do
do_
do _
Firms with 11 or more stores :f
Estimated sales (unadjusted), total
do
Apparel group
_
_
__do
Men's and boys' wear stores
do
Women's apparel, accessory stores
_ do.__
Shoe stores
do
Drug and proprietary stores
_ do
Eating and drinking places
do
Furniture, homefurnishings stores
do
r
465
315
121
'829
r
610
'219
103
818
605
214
9,r 237
903
9, 514
1 020
r227
r
354
176
146
398
1, 051
r
T
r
T
780
3, 362
* 2,T 735
866
' 1 570
'879
'110
r
238
'343
r
255
r
21
'74
49
60
r
50
'31
250
384
213
173
415
1 090
3 378
2 757
884
1 680
904
125
257
394
280
492
2,229
1, 784
813
2 182
3,345
2 376
301
35
119
90
87
54
27
539
1,020
r 64
1 056
' 2, 545
2,615
49
173
45
74
'30
190
19
77
59
62
51
28
' 726
'317
802
342
' 18
71
50
62
' 52
' 117
188
1,013
'64
'53
140
204
1, 008
60
52
' Revised.
fRevised series; see note marked "f" on p. S-8.
cf Data represent new estimates adjusted for comparability with the new series of retail sales, For the new estimates for December 1950 and the entire year 1951 and for revisions of the old
jries (1949-51), see pp. 14 ff. of the November 1952 SURVEY.
SURVEY OF CURRENT BUSINESS
S-10
1951
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
Febrnarv 1953
19 =52
December
January
February
March
April
May
June
August
July
September
October
*<-<»-
December
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
j
Department stores:
Accounts receivable, end of month:!
Charge accounts
1947-49 = 100
Instalment accounts
_ _ ._ _
_ do ._
Ratio of collections to accounts receivable:
Charge accounts __
^percent
Instalment accounts
do
Sales by type of payment:
Cash sales
percent of total sales .
Charge account sales
do
Instalment sales
do
Sales, unadjusted, total U. S.f
Atlanta
Boston
Chicago
Cleveland
Dallas
Kansas City
Minneapolis
New York
Philadelphia
__ _ _.
Richmond
St. Louis
San Francisco
1947-49=100.do
do
do
do
do
do
... - _ - d o _ .
do
do _
do
do
do
'Sales, adjusted, total U. S.f_
_ do ._
Atlanta
do
Boston
_
_ _ _ do_. Chicago
do
Cleveland
_.
_ do
Dallas
do
Kansas City
__
do
Minneapolis
do
New York
do
Philadelphia
_
do
* Richmond
_
do
St Louis
do
San Francisco
_
_
do. _
Stocks, total U. S., end of month:f
Unadjusted
. . . _ _ do ...
Adjusted
do
Mail-order and store sales:
Total sales, 2 companies
thous. of dol
Montgomery Ward & C o _ _
do
Sears Roebuck & Co
do
Rural sales of general merchandise:
Total U. S., unadjusted
1935-39=100._
East
do
South
do
Middle West
do
Far West
- - - do
Total U. S., adjusted .
do
East
do
South
. _ ._
_ -do. __
Middle West
do
Far West
..
_
do
177
197
142
190
124
182
117
178
121
175
122
176
120
178
107
177
108
180
118
190
128
201
138
211
183
233
45
19
47
19
45
18
48
20
46
18
48
19
46
18
46
17
46
17
47
18
50
18
48
17
48
17
49
42
9
48
42
10
48
42
10
48
42
10
48
43
9
47
43
10
47
43
10
48
41
11
48
41
11
46
43
11
46
43
11
47
42
11
49
42
9
184
204
188
176
181
••202
185
166
83
90
81
81
87
95
86
72
80
81
80
81
83
83
93
75
80
83
93
85
83
82
82
83
80
86
92
110
87
89
95
105
93
80
85
97
96
89
90
103
118
103
99
104
114
104
100
94
103
110
101
104
108
122
102
104
105
125
112
105
95
108
115
106
114
105
117
103
103
105
116
106
96
95
102
114
103
108
84
96
73
82
82
104
93
84
69
76
87
81
96
98
115
83
97
99
114
110
103
76
86
100
98
111
112
126
111
110
110
128
115
108
100
110
121
110
115
119
132
111
116
119
134
120
124
110
120
128
121
117
133
P 194
p221
P193
* 186
108
119
102
105
115
122
115
97
100
110
114
111
106
106
112
100
104
108
115
106
113
100
110
109
100
108
105
114
104
103
106
115
105
94
97
109
114
99
103
103
116
99
100
104
114
104
98
96
102
108
98
106
108
127
101
104
103
128
112
104
96
107
116
102
118
111
138
103
105
112
132
114
100
98
107
122
111
114
105
120
106
97
105
123
114
104
95
106
106
99
110
114
131
109
111
113
127
119
115
102
115
127
110
116
106
121
101
103
105
119
108
98
95
105
112
104
114
115
126
109
113
116
128
113
110
105
114
120
114
118
119
106
118
113
116
120
115
122
116
120
118
112
118
110
120
114
118
124
120
477, 842
146, 189
331,653
248, 926
63, 912
185, 014
246, 182
67, 879
178, 303
279, 095
79, 273
199, 822
332, 482
93, 423
239, 059
368, 073
101,381
266, 692
354, 385
92, 345
262, 040
304, 313
82, 995
221,318
351, 558
101, 150
250, 409
499.6
453.7
534.4
468. 5
606.5
340.8
314.0
386.4
315.7
386.8
248.5
228.4
273.8
236.3
276.8
328.3
301.3
342.2
315.1
376.1
263.3
242.7
296.1
240.0
284.7
314.6
292.4
340.3
300.0
381.1
276.3
271.1
306.1
257.9
301.4
304.6
285.4
340.1
276.7
354.6
299.6
273.7
319.7
280.2
344.5
313.1
288.1
348.3
287.1
368.4
283.9
253.5
301.8
269.8
327.7
316.5
282.3
364.1
304.5
365.7
308.3
280.0
345.4
286.9
370.7
345. 5
311.1
397.5
313.2
396.5
249.5
215.6
270.5
234.6
313.6
336.3
304.5
387.0
314.1
384.3
9,274
2, 542
6,732
10,150
4,904
5,246
8,786
2,412
6,374
10, 341
5,144
5,197
8,154
2,493
5,661
10,190
5,114
5,076
8,108
2,579
5, 529
10, 298
5,255
5,043
8,187
2,771
5,416
10,110
5,287
4,823
8,116
2,706
5,410
9,855
5,161
4,694
8,240
2,728
5,512
9,761
5,005
4,756
77
r
r
r
185
!99
168
!90
109
120
106
109
109
122
113
104
••102
105
'113
107
r
!09
r
!07
r
r
145
127
129
139
145
132
M20
123
143
r
142
194
215
P195
173
175
194
215
126
136
*>179
P205
••113
106
128
P115
P130
P108
p 116
117
130
P 119
109
101
111
122
P 113
P 118
134
120
136
120
P 108
p 119
373, 724
102, 462
271, 262
418, 732
118,142
300, 590
391, 569
108, 525
283, 045
390, 870
315.6
280.7
330.8
295.3
396.2
342.3
320.1
368.4
318.9
404.3
344.5
299 7
390.4
316 8
415.6
311.5
289 0
343. 1
294 4
363. 3
378.3
356.9
445.0
366.8
410.8
316.3
310.3
348.2
312.2
365.5
432.6
441.5
' 478. 2
393. 7
500.3
333. 8
310.5
347.0
299.6
399.0
554.4
502.9
585.8
352.7
662.3
8,596
2,718
5,878
9,665
4,809
4,856
8,699
2,646
6,053
9,735
4,814
4,921
9,523
2,983
6,540
9,925
4,824
5,101
10, 389
3,254
7,135
10, 177
4,790
5,387
r
9, 481
2,797
6, 684
' 10, 202
4,860
T
5, 342
9,795
2,853
6,942
128
105
108
113
129
117
' 107
98
109
••115
546, 465
155,594
371.8
330.8
411.7
351.5
418.4
WHOLESALE TRADE*
Sales estimated (unadjj, total
mil.
Durable-goods establishments .
_
Nondurable-goods establishments
Inventories, estimated (unadj.), total.
Durable-goods establishments
Nondurable-goods establishments. _ _ _
of dol
do
do
do. _ _
do
do
r
10, 023
4,878
5,145
EMPLOYMENT AND POPULATION
POPULATION
Population, continental United States:
Total, incl. armed forces overseas
thousands_.
155, 548
155, 750
155, 964
156, 163
156, 371
156, 568
156, 770
156, 981
157, 234
157, 505
157, 768
158, 012
158, 233
109, 200
51, 844
57, 356
109, 260
51,852
57, 408
109, 274
51, 810
57, 464
109, 274
51, 758
57, 516
109,328
51, 762
57, 566
109, 426
51, 804
57, 622
109, 556
51, 872
57, 684
109, 692
51, 948
57, 744
109, 804
52, 000
57, 804
109, 906
52, 040
57, S66
110,074
52, 144
57, 930
110, 198
52, 208
57,990
110,315
58, 298
58, 166
do.
do.
do.
62, 688
43, 114
19, 574
61, 780
42, 864
18, 916
61, 838
42, 858
18, 980
61, 518
42, 810
18, 708
61, 744
42, 946
18, 798
62, 778
43, 262
19, 516
64, 390
44, 464
19, 926
64,176
44, 720
19, 456
63, 958
44, 396
19, 562
63,698
43, 468
20, 230
63, 146
43, 196
19, 950
63, 646
43, 218
20, 428
62, 921
43, 196
19, 682
do_
do_.
do_
61,014
42, 106
18, 908
59, 726
41,480
18, 246
59, 752
41, 482
18, 270
59, 714
41, 586
18, 128
60, 132
41,898
18, 234
61,176
42, 290
18, 886
62, 572
43, 326
19, 246
62, 234
43, 476
18, 758
62, 354
43, 392
18, 962
62, 260
42, 604
19, 656
61,862
42, 482
19, 380
62, 228
42, 404
19, 824
61, 509
42, 244
19, 236
do_
do.
do_
6,378
54, 636
1,674
6,186
53, 540
2,054
6,064
53, 688
2,086
6,012
53, 702
1,804
6,412
53, 720
1,612
6,960
54, 216
1,602
8,170
54, 402
1,818
7,598
54, 636
1,942
6,964
55, 390
1,604
7,548
54, 712
1,438
7,274
54,588
1,284
6,774
55, 454
1,418
5,697
55, 812
1,412
EMPLOYMENT
Employment status of civilian noninstitutional
population:
Estimated number 14 years of age and over,
total
thousands-Male
do
Female
do
Civilian labor force, total
Male
Female
Employed
Male
Female
Agricultural employment
Nonagricultural employment
Unemployed
46, 512
47,436
_-_
do
46,512
47, 480
47, 756
47, 584
46, 648
45, 166
45, 846
46, 928
46, 552
47, 394
45, 516
46, 208
Revised.
vised.
p Preliminary.
t Revvised series. Data have been revised to reflect use of new base period and to incorporate other major changes. Revisions back to 1919 for sales by districts will be shown later. Published revisions
svisions appear
appea as follows: Accounts receivable (1941-51), p. 32 of the July 1952 SURVEY; total U. S. sales (1919-50), p. 32 of the February 1952 SURVEY; total U. S. stocks, p. 32 of the July
1952 I SURVEY.
J Data on total wholesale trade have been substituted for the series on service and limited-function wholesalers. For annual sales, 1939-48, and end-of-year inventories, 1938-48, see p. 24 of
the October 1951 SURVEY; revisions beginning 1949 appear on pp. 16 ft. of the October 1952 SURVEY.
Not in labor force_
T
February
SURVEY OF CURRENT BUSINESS
1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1951
December
8-11
19 52
January
February
March
April
June
May
July
August
September
October
November
December
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Employees in nonagricultural establishments:
Total, unadjusted (U. S. Dept. of Labor)
thousands . _
Manufacturing
_
do
Durable-goods industries
do
Nondurable-goods industries
do
Mining, total
_ _ __ _ - - do. _
Metal
do
Anthracite
do
Bituminous coal _ _ _ _
- do
Crude-petroleum and natural-gas production
thousands.
Nonmetallic mining and quarrying . do
Contract construction
do
Transportation and public utilities
do
Interstate railroads
_ . _ _ . .. _ _ _ d o _ _
Local railways and bus lines
do
Telephone
do _
Telegraph
do
Gas and electric utilities
-do. .
47, 663
15,913
9,000
6,913
45, 913
15,776
8,946
6,830
45, 899
15, 859
9,010
6,849
46, 001
15, 869
9, 035
6,834
46, 299
15, 795
9, 054
6,741
916
106
67
369
909
107
67
367
902
107
62
366
904
107
67
363
46, 329
15, 654
8,991
6,663
46, 292
15, 410
8, 621
6,789
896
107
60
357
893
107
66
348
814
77
65
294
784
74
61
269
269
105
267
101
266
106
272
106
2,316
4, 103
1,394
266
101
2,296
267
105
2, 518
4,161
1,426
267
101
2,308
4,111
1,392
2, 522
4,131
1,416
141
660
47
526
2, 663
4, 168
1, 396
4,140
1,352
141
654
47
527
141
653
47
526
4, 118
1,395
139
664
47
526
2,416
4,096
1,404
139
648
275
106
2,722
137
669
528
529
137
674
45
538
Trade
do
Wholesale trade
- do.
Retail trade
do
General-merchandise stores
_ - do. _
Food and liquor stores
- - -do
Automotive and accessories dealers. -.do
Finance
do
Service
do
Hotels and lodging places
do
Laundries
- - do
Cleaning and dyeing plants
do
Government
- _ _ _ do
10, 660
2, 657
8,003
2,092
1,316
768
1,912
4,702
9,643
2, 624
7,019
1,416
1,286
743
1,919
4, 667
428
354
153
6,490
9,668
2, 623
7,045
1,437
1,287
738
1, 937
4,681
430
353
154
6, 528
9, 845
2,605
7,240
1,527
1,295
737
1, 952
4,748
6,551
9,773
2,601
7,172
1,466
1, 293
742
1,958
4,796
450
363
164
6,602
9, 838
2,618
7, 220
1,460
1, 292
754
1,977
4,837
6,881
9,720
2,622
7,098
1,472
1,282
749
1,909
4,671
424
356
154
6,509
Total adjusted (Federal Reserve) ...
do _ .
Manufacturing
do
Mining
- do _.
Contract construction
do
Transportation and public utilities. _ _ do
Trade
do
Finance
- _ _ do
Service
do
Government
do
46, 608
15,811
46, 471
15, 830
46, 594
15, 877
46, 552
15, 894
46, 556
15,931
916
916
2,545
4,139
9, 852
1,919
4,742
6,528
912
2,593
4,147
9, 860
1,929
4,738
6,538
911
899
2, 523
4,154
9,862
1, 937
4,728
6,543
12, 766
7,264
12, 820
7,306
54
55
654
391
296
452
119
668
396
296
447
120
426
356
154
2, 569
4,161
9,893
1, 931
4,749
6,578
Production workers in manufacturing industries:
12,911
Total (U S. Dept. of Labor) - - - .-thousands..
7,322
Durable-goods industries
do
52
Ordnance and accessories
do
Lumber and wood products (except furni696
ture)
thousands
412
Sawmills and planing mills
do
296
Furniture and
fixtures
. do
465
Stone clay and glass products
do
123
Glass and glass products _ _ _
- do.
1,164
Primary metal industries
._
. .do. . Blast furnaces, steel works, and rolling
573
millsf
. thousands- .
Primary smelting and refining of n on fer47
rous metals
. - - - - th ousan d s . .
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
806
thousands. _
Heating apparatus (except electrical) and
119
plumbers' supplies
thousands
1,269
Machinery (except electrical)... ._
- do. .726
Electrical machinery
do
1,235
Transportation equipment __ . ... _ do ...
645
Automobiles
do
407
Aircraft and parts
_ _ _
__do_ __
111
Ship and boat building and repairs. __do
63
Railroad equipment
- do __
232
Instruments and related products
do
381
Miscellaneous mfg industries
do
5,589
Nondurable-goods industries - _ . - - do .
1,122
Food and kindred products
. _. do __
252
Meat products .
- do. _
96
Dairy products
do _..
120
Canning and preservingdo
190
Bakery products
do
146
Beverages _ _ _ - _ _ _ . . . do
85
Tobacco manufactures _ . _ _ . _
do . .
1,141
Textile-mill products
_ _ _ _ _ _ _ _ .do
548
Broad-woven fabric mills... _ _ . _ _ do
211
Knitting mills
_ . _ . - do. _ Apparel and other finished textile prod1,035
ucts
_ . .- . thousands ._
123
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
235
clothing
thousands-.
296
Women 's outerwear
_
_ do
410
Paper and allied products
do
212
Pulp, paper, and paperboard mills.-. do
Printing, publishing, and allied industries
520
thousands. .
155
Newspapers
_.
_.do
171
Commercial printing.. _ . _
. .do. ..
'Revised.
»Preliminary.
^Figures for 1939-46 on the revised basis for the indicated series,
46, 006
15,162
8,301
6,861
47, 124
16,028
8,916
7,112
897
107
63
346
266
••108
' 2 763
r 4, 228
138
682
46
545
2,781
4,208
1, 394
138
688
46
r
546
475
369
165
6,585
9,792
2,626
7,166
1,419
1,293
757
1, 993
4,855
509
371
161
6,558
9,784
2,637
7,147
1,410
1,287
752
1, 993
4,844
505
369
156
6, 589
9 970
2,644
7 326
1, 516
1,298
-•748
1,971
r 4, 829
'468
'364
46, 559
15, 870
46, 348
15, 547
46, 170
15, 362
2, 517
4,116
9,849
1,942
4,748
6,554
894
2,497
4,134
9,912
1,948
4,772
6,572
46, 970
15,924
810
2,536
4,139
9,964
1, 957
4,789
6,606
111
2,544
4,099
9, 965
1,964
4,783
6,676
2, 575
4,160
9,967
1,973
4,796
6,686
12,815
7,316
56
12, 733
7,329
12, 588
7,262
59
12, 329
6,888
12, 061
6,559
58
60
60
12, 886
7, 146
670
398
296
449
121
678
405
292
452
123
635
387
287
449
123
709
427
285
441
123
676
1,110
438
358
161
889
59
1,162
1,160
1,154
1,143
1,141
570
570
567
558
557
155
134
540
47
48
47
48
48
47
47
804
807
807
806
798
769
115
1,276
116
1,281
116
1,280
115
1,282
113
1,269
115
1,261
727
442
295
458
127
' 1,411
' 137
' 2 613
' 4, 234
1,413
' 10 105 ' 10 301
2, 658
2 687
7 614
7 447
1 720
1,602
1,316
1,320
754
'767
1,968
1,972
4,770
4 727
416
'430
'364
362
163
6,695
162
6,663
r
13 285
r 7 444
r
63
r 719
' 700
r
438
'304
r
r
462
132
1, 153
r
432
309
465
133
' 1, 162
696
425
P 668
p 316
P 462
135
' 1 172 p 1 184
46
726
783
'821
'844
'860
112
1.203
121
1,181
722
714
708
706
685
1,288
1,307
1, 323
1,169
663
430
667
437
672
447
521
454
708
1,192
525
466
P871
r 130
' 128
130
' 1 193 ' 1 215 ' 1 248 P i 287
r 781
P 801
764
743
P i 441
' 1 330 ' 1 387 r i 423
r 680
' 708
740
'477
'448
484
'134
135
133
' 56
57
55
246
r 250
242
P 253
P 430
414
428
' 434
115
62
122
61
126
61
232
374
128
57
233
381
234
382
133
60
236
380
233
376
135
59
135
50
233
382
230
375
238
395
5,502
1,068
5,514
1,060
246
94
106
187
136
82
244
95
105
187
134
80
1, 123
540
209
527
210
5,404
1,057
233
100
114
186
136
77
1,093
507
210
5,326
1,074
230
107
122
183
146
77
1,083
503
209
5,441
1,138
1,131
5,499
1,057
239
96
104
189
138
78
1,113
518
210
506
212
5,502
1,215
234
114
211
195
163
78
1,081
509
209
5,740
1,279
232
111
280
194
160
87
1,120
r
519
221
1,029
1,052
1,051
127
128
127
996
121
959
113
972
119
982
117
1,050
128
129
228
300
405
211
233
309
404
210
238
306
401
208
239
275
398
206
238
252
398
206
240
252
403
209
239
269
395
203
249
292
408
209
' 292
' 411
'208
510
151
507
152
508
152
507
152
507
154
170
511
154
166
167
166
507
154
509
154
167
167
165
165
134
57
p 7 049
' 315
' 467
568
643
428
T> 10 878
P 2 705
p 8 173
P 2 115
p 1,341
p 776
p 1,979
P 4 701
' 13 378 ' 13 447 p 13 487
' 7 583 ' 7 709 P 7 778
' 63
63
P 65
46
1,266
p 2 444
v 4, 239
' 47, 301 ' 47, 402 ' 47, 630 p 47, 754
r
' 16 319 ' 16 489 p 16 571
16 196
'869
' 873
'881
P 869
2 573
' 2 582
' 2 562
2 494
4,248
' 4, 206
' 4 238
4 239
9 979
' 9 981
' 10 013 P 10 095
1,988
1,981
1 999
' 1 992
r
4 746
' 4 751
4 781
4 748
6,693
6,680
6 712
6 739
47
727
P339
136
685
46
530
683
47
535
48
1,251
••634
1,082
262
107
2 702
' 4, 241
1,422
' 136
'540
160
'263
108
r
682
46
6,712
63
338
'566
725
232
113
155
190
153
78
63
'336
565
1,235
424
63
••345
273
109
697
424
288
453
125
716
633
415
' 47, 891 ' 48, 006 P 48, 836
r 47, 789
' 16, 430 ' 16, 539 ' 16, 662 v 16 677
' 9 218
' 9 368 ' 9 507 P 9 587
r
7, 212
' 7, 171
' 7, 115
v 7 090
'871
'874
'886
p869
r
102
' 104
103
v 105
' 5 841
' 5 795
r I
r I
314
'236
104
r 313
r 1Q5
151
91
r 1 141
522
225
235
'235
available since publication of the 1951 STATISTICAL SUPPLEMENT, will be shown later.
'515
155
'167
245
96
150
194
146
99
' 227
' 195
146
91
' 1 150
r 88
r 1 161
524
228
' 1 068 ' 1 065
253
r 5 738
P 5 709
' 1 157 P i 104
128
' 256
P 85
P i i6i
527
230
r I
066
P i 078
126
255
287
r 284
r 417
' 421
'209
210
522
155
524
156
169
170
v 427
"527
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1952
1951
December
February 1953
January
February
March
April
May
June
July
August
September
October
November
December
EMPLOYMENT AND POPULATION—Continued
j
i
EMPLOYMENT— Continued
i
Production workers in mfg. industries — Continued
Total (U. S. Dept. of Labor)— Continued
Nondurable-goods industries— Continued
Chemicals and allied products
thousands,.
Industrial organic chemicals
do
Products of petroleum and coal _ ... do .
Petroleum refining
do
Rubber products .
. _ __ do ,
Tires and inner tubes
do
Leather and leather products.
_ do _,
Footwear (except rubber)
do
Manufacturing production-worker employment
index, unadjusted (U. S. Dept. of Labor) t
1947-49 = 100 ..
Manufacturing production -worker employment
index, adjusted (Federal Reserve)!- 1947-49=1 00 _.
Miscellaneous employment data:
Federal and State highways, total §
number, _
Construction (Federal and State)
do
Maintenance (State)
do
Federal civilian employees:
United States
_ _
thousands
Washington, D. C., metropolitan area, .do
Railway employees (class I steam railways) :
Total
thousands
Indexes:
Unadjusted
1935-39=100,.
Adjusted
- - - do
1
538
171
196
155
219
95
323
205
536
170
193
153
218
94
330
213
538
168
193
153
215
94
342
221
538
168
194
152
215
94
344
222
104.4
103.2
103.6
103.6
102.9
103.5
103.6
103.8
103.7
104.0
246, 185
75, 055
118, 551
230, 985
59, 281
118, 621
227, 488
59, 491
115, 126
239, 087
68, 500
116,987
270, 654
99, 013
118,411
2, 344
248
2, 359
249
2, 370
248
2. 381
249
2, 389
248
1,285
1,257
1,252
1,255
122.2
124.2
119.9
124.6
119.4
122.3
119.7
122.7
132.9
130.4
131.0
41.2
42.2
45.1
40.8
41.8
44.4
40.8
40.4
42.0
41.2
40.0
42.2
530
163
197
155
213
95
336
217
526
168
203
159
'217
'94
355
228
535
170
203
159
' 222
94
355
224
535
172
••203
159
••226
95
'357
224
* 535
512
163
190
155
215
95
340
221
511
166
191
158
202
93
340
219
513
168
205
161
212
92
357
232
101.8
99.7
97.5
104.2
' 107. 4
' 108. 2
' 108. 7
p 109. 0
103.4
100.8
99.2
103.4
r
' 106. 5
r 107. 6
p 108. 1
296, 941
120, 225
122, 354
328, 561
141, 561
128, 338
341, 207
149, 194
131, 788
344, 947
151, 418
132, 378
2,392
248
2,419
251
2,420
251
2,407
248
2,388
245
1,265
1,277
1,257
1,214
1,256
1,272
1,285
1,274
1,261
120.5
122.5
121.8
122.3
120.1
118.4
116.0
113.5
119.7
117.2
121.3
118.4
' 122. 5
' 118. 5
P121. 4
p 120. 3
P119.9
p 121. 8
131.9
128.1
128.1
126.4
121.1
133.3
' 142. 1
' 144. 2
' 145. 3
p 148. 8
40.7
41.7
44.7
40.7
41.7
44.3
39.8
40.8
43.4
40.2
41.1
43.7
40.5
41.2
43.5
39.9
40.2
42.3
40.6
41.0
41.0
41.3
Ml. 9
'42. 7
41.4
42.2
M2. 1
41.2
'42.0
'41.2
p 41. 8
P42.7
M1.4
40.1
39.5
41.5
40.6
38.8
41.5
40.6
40.1
41.5
41.0
39.6
41.2
40.4
39.9
41.3
41.1
39.9
41.4
40.7
40.3
40.6
40.5
38.9
39.0
41. 1
40.9
40.9
41.0
39.8
39.2
42.2
42.1
41.0
40.9
39.7
40.1
40.9
40.5
40.3
40.2
38 5
39^5
41.9
41.6
41.2
41.1
40.0
40.4
Ml. 6
Ml. 4
42.0
Ml. 3
39.7
Ml. 1
42.1
' 41.7
42.5
M2. 1
40.9
Ml. 4
'41.4
41.1
'42.0
'41.4
40.6
'41.5
P42.7
P42.0
41.9
40.8
40.6
41.4
37.4
37.4
36.8
37.7
40.3
MO. 9
40.8
41.0
41.4
41.5
41.6
41.8
41.5
41.9
41.8
41.9
41.6
Ml. 7
Ml. 5
41.6
42.3
41.8
41.8
41.7
40.7
41.3
40.9
39.8
40.8
42.0
42.4
42.2
41.3
44.1
42.0
41.7
40.4
44.1
40.5
40.8
42.6
41.4
40.5
43.9
41.9
41.5
40.5
43.2
40.7
41.0
42.1
41.0
40.4
43.6
41.6
41.4
40.4
43.2
40.0
41.4
41.7
40.8
40.5
43.5
41.5
41.3
40.4
42.9
40.9
41.3
41.7
40.9
39.0
42.8
40.7
40.7
39.9
42.0
40.5
40.3
41.4
40.1
40.2
42.9
40.6
41.1
40.1
42.8
41.1
40.4
41.8
40.5
40.2
42.7
40.9
40.7
39.4
42.7
40.9
40.6
41.6
40.3
39.6
41.6
39.9
39.3
35.9
42.7
40.5
40.1
40.7
39.8
40.6
42.1
40.9
40.3
38.4
42.3
40.4
39.8
41.5
40.7
r
41.6
42.9
Ml. 9
M2.2
Ml. 8
43.6
40.5
42! 3
Ml. 6
M2.1
42.9
'42.0
'42.1
'42.3
42.7
39.5
'39.4
'42.5
'42.2
41.0
'42.8
'41.8
'41.7
41.8
43.0
37.6
39.2
' 42. 5
42.2
39.9
42.3
44.2
44.1
38.3
41.5
40.8
39.5
39.3
39.3
37.8
39.5
41.6
42.5
44.0
38.0
41.2
40.5
38.4
38.9
39.0
37.0
39.5
41.4
41.4
43.9
38.4
41.5
40.7
36.9
38.8
38.4
37.8
39.3
41.0
40.6
43.8
38.1
41.0
40.4
36.6
38.1
37.2
37.8
38.4
40.7
40.3
43.8
37.5
41.1
40.6
34.6
37.2
37.1
36.2
39.0
41.4
40.7
44.3
37.9
41.8
41.8
37.9
37.7
37.1
36.9
39.5
42.1
41.1
45.6
38.7
42.3
42.3
38.6
38.4
37.7
37.6
39.5
42.1
40.9
45.1
41.0
41.9
43.0
37.9
38.5
38.1
38.0
40.0
41.4
40.2
44.1
40.2
41.8
41.4
39.1
39.7
39.3
39.0
MO. 4
M2.3
Ml. 4
M4.6
r
43. 0
Ml. 9
MO. 9
'39.6
40.2
40.0
'39.2
40.3
'41.9
42.0
43.7
'41.3
41.7
'40.5
'40.0
'40.5
40.6
39.8
'40.2
'41.9
43.6
43.8
36.8
41.6
41.3
'38.7
40.4
40.5
39.8
P40. 7
P42.2
36.4
33.2
36.2
34.2
36.0
33.7
37.3
36.2
r
37.4
36.7
'37.4
36.1
37.4
35.9
^37.4
37.2
36.0
41.8
42.6
37.3
34.8
42.4
43.1
36.8
35.0
42.4
43.4
38.0
36.2
43.0
43.6
'38.2
35. 7
43.5
44.0
38.8
35.0
43.9
44.3
38.8
35.4
'43.9
44.5
p44. 1
38.6
36.5
40.0
40.9
40.3
37.2
35.7
40.5
40.4
37.3
36.8
38.8
36.4
40.2
41.1
40.3
40.8
40.4
40.9
41.1
38.2
37.8
38.5
36.1
40.3
40.7
40.5
41.3
40.8
39.6
39.8
38.5
38.3
38.9
36.1
40.3
40.9
40.7
40.8
40.2
40.6
40.5
39.5
39.7
39.2
36.5
40. 5
41.5
MO. 8
41.2
40.5
Ml. 1
MO. 7
'38.6
38.1
39.0
36.4
40.4
41.7
41.0
40.8
40.1
Ml. 2
MO. 4
'38.2
37.2
38.9
36.3
40.0
'41.8
41.4
'40.9
40.6
41.1
40.0
'37.7
36.4
517
161
168
126
213
95
330
213
105. 6
P201
P229
P362
334, 323 '315,261 p 277, 756
149,271 ' 138, 599 p 102, 749
126, 444
121,337 p 119, 630
2,383
245
2,380
'245
2,378
244
PAYROLLS
Manufacturing production-worker payroll index,
unadjusted (U. S. Dept. of Labor) t- 1947-49 =100..
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor) :
All manufacturing industries
hours
Durable-goods industries
do
Ordnance and accessories, ._ .
_do, ,
Lumber and wood products (except furniture)
_ - , , hours _
Sawmills and planing mills
do
Furniture and
fixtures
do
Stone, clay, and glass products
do
Glass and glass products
do
Primary metal industries
do
Blast furnaces, steel works, and rolling
mills J
hours
Primary smelting and refining of nonferrous
metals
hours
Fabricated metal prod, (except ordnance, machinery, transportation equipment) hours,
Heating apparatus (except electrical) and
plumbers' supplies
hours
Machinery (except electrical)
do
Electrical machinery
_ , _ ,do
Transportation equipment
do
Automobiles
do
Aircraft and parts
do
Ship and boat building and repairs _.do
Railroad equipment
do
Instruments and related products
- do
Miscellaneous mfg. industries
do
Nondurable-goods industries
Food and kindred products
Meat products
Dairy products
Canning and preserving
Bakery products
Beverages
Tobacco manufactures
Textile-mill products
Broad-woven fabric mills
Knitting mills
. do
do
do
do
do
do
do
do
do
do
do
Apparel and other finished textile products
35.0
36.8
36.0
36.7
36.2
hours..
32.9
33.4
35.3
34.7
33.7
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
35.8
36.5
36.7
35.7
35.8
clothing
hours
34.2
36.2
36.4
35.9
35.8
"Women's outerwear
do
41.4
42.4
42.6
42.5
42.8
Paper and allied products,
- do
42.2
43.6
43.6
43.8
44.2
Pulp, paper, and paperboard mills, ,,do
Printing, publishing, and allied industries
38.2
38.4
38.7
38.6
39.4
hours _ _
36.1
36.1
36.1
35.8
37.5
Newspapers
do
39.5
40.3
40.3
39.7
40.7
Commercial printing
do
41.0
41.3
41.6
41.4
41.8
Chemicals and allied products
do
40.2
40.4
40.3
40.3
40.7
Industrial organic chemicals
do
40.5
40.7
40.9
40.8
41.2
Products of petroleum and coal
_ do
40.3
40.5
40.7
41.0
41.3
Petroleum refining
do
39.6
40.5
40.3
40.9
41.2
Rubber products.,
._ _.
do_ _
39.3
40.6
39.8
40.9
41.0
Tires and inner tubes
do
37.1
38.4
38.7
38.7
37.8
Leather and leather products.,
_ do
36.7
38.2
38.6
38.7
36.9
Footwear (except rubber)
do
r
Revised.
v Preliminary.
fRevised series. Indexes have been shifted to ne w base peiiod; mont hly data fo r 1919-50 ai•e shown 01i pp.
§ Total includes State engineering, supervisory, and admiinistrative e mployees ]aot shown separately.
19 and 20 of the October li 52 SURVEY
r QQ g
r
r
P41.3
"42.3
^43.3
P43. 6
P42. 7
P42. 7
P43.3
P42.5
P39.1
P41.0
?39. 9
Ml. 8
P40.7
P42.0
"39.6
t See note rnarkf id "t" on j). S-ll.
SURVEY OF CURRENT BUSINESS
February 1953
Unless other-wise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-13
1952
1951
December
January
February
March
May
April
June
August
July
September
October
November
December
EMPLOYMENT AND POPULATION—Continued
LABOR CONDITIONS— Continued
Average weekly hours per worker, etc. — Continued
Nonmanufacturing industries:
Mining:
Metal _
_-. _ _
_ hours
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
hours
Nonmetallic mining and quarrying
do
Contract construction
do
Nonbuilding construction
_
. do. .
Building construction
do
Transportation and public utilities:
Local railways and bus lines
do
Telephone
_ do
Telegraph f
do
Gas and electric utilities
do_ ._
Trade:
Wholesale trade
_ _ _. do__ _
Retail trade (except eating and drinking
places)*
.._ .
hours _
General-merchandise stores
do
Food and liquor stores
__ do
Automotive and accessories dealers do
Service:
Hotels, year-round
do
Laundries do
Cleaning and dyeing plants
do
Industrial disputes (strikes and lock-outs):
Beginning in month:
Work stoppages
number _
Workers involved
thousands..
In effect during month:
Work stoppages
number. .
Workers involved
thousands
Man -days idle during month . _
do
Percent of available working time
_TJ. S. Employment Service placement activities:
Nonagricultural placements
thousands _
Unemployment compensation (State laws):
Initial claims
do
Continued claims
do
Benefit payments:
Beneficiaries, weekly average - _ _ _ _ do__ _
Amount of payments
thous. of dol
Veterans' unemployment allowances:
Initial claims
- -.thousandsContinued claims
do
Amount of payments
_ . thous. of dol
Labor turn-over in manufacturing establishments:
Accession rate. . .monthly rate per 100 employees. .
Separation rate, total
_
do
Discharge
.
do_ ..
Lay-off
- do. ..
Quit
- - -do.
Military and miscellaneous
do_
r
r
T
44.4
31.1
38.4
44.3
32.6
38.5
44.1
30 9
35.9
44.5
30.1
35.4
43.1
28 1
29.9
44.4
33 3
31.8
42.6
30.]
28.5
43 1
26 7
28 1
41.8
44.0
37.9
38.9
37.7
41.7
43.7
37.9
39.6
37.5
40.8
44.3
38.3
40.2
37.9
41.6
43.8
37.1
38.5
36.9
41. 1
44.8
38.0
39.8
37.6
40 6
45.7
38.6
41.2
37.9
41.3
45.8
39.4
42.2
38.7
41 0
44 9
39 1
41.8
38 4
46.4
38.7
43.9
41.9
46.5
38.5
43.9
41.4
46.6
38.5
44.0
41.4
46.1
34.9
46.9
38.7
41.4
41.2
47.1
39.0
44. 5
41.2
46 9
39.3
44 8
41 5
47 0
39.0
44 5
41.4
40.7
40.4
40.4
40.1
40.4
40 5
40 6
40.6
T
47.6
38.8
44.3
42.1
41.1
1
43.9
29 2
36.2
r
40 5
45.8
39 3
42.4
38 5
r
r
r
T
T
r
r
r
r
44.7
31 7
32.5
43.1
35 7
35.4
40 7
46.6
39 7
43.2
38 8
41 5
45.0
37 5
39.1
37 1
T
45 8
38.9
42 3
41.6
45 6
39.0
41 9
41.8
r
40.7
40.6
5
2
39 8
45 2
r
r
r
39
34
39
45
2
7
2
3
39.0
34 6
39.2
45 2
42 4
41 0
* 42 7
40 9
r 41 g
42 6
40.5
40 7
44.9
34 1
38 9
41 3
46.4
39 8
43. 6
38 8
r
r
T
r
46 0
39.0
42 6
41.6
40 7
40.1
37.0
40.0
45.4
39.8
35.8
39.4
44.9
39.8
35.9
39.4
45.0
39.8
35.8
39. 5
45.1
39.7
36.0
39.6
45.4
39.6
35.7
39.2
45.3
40.1
36.3
40.2
45.3
40.4
36 6
40.6
45 4
40.4
36 5
40.7
45 2
r
39
r
35
r
43.2
41.4
41.1
42.8
41.5
40.7
42.8
40.9
39.8
42.5
40.9
40.1
42.8
41.1
41.3
42.6
41.4
42.0
42 6
41.8
42.6
42 4
41.2
40 3
42 6
40.6
40 3
r
r
186
82
400
190
350
185
400
240
475
1,000
475
300
425
170
425
125
450
225
475
230
425
470
250
90
357
130
1,020
.13
600
250
1, 250
.14
550
250
1,270
.15
600
320
1,400
.17
650
1,200
5,300
.61
675
1,200
7,500
.90
650
1,000
14, OGO
1 68
650
850
12, 500
1 44
675
310
2,100
.25
700
360
3 200
37
650
600
3,500
475
220
1, 500
. 19
r 41 5
37
200
80
350
120
1,000
11
426
473
427
465
566
572
581
556
588
658
641
507
467
1, 152
4,114
1,382
6,157
890
5, 169
867
4,834
1,109
4,825
915
4,445
978
4, 255
1 585
4 961
733
4 301
568
2 985
679
2 746
690
2 576
1 126
3 844
797
70, 624
1,185
116,469
1,146
105, 023
1,113
101, 564
993
94, 385
918
86, 958
918
83, 511
880
88 612
980
95 389
631
62 094
530
54 228
536
47 730
69 061
1
3
57
1
4
83
(2)
(2)
3.0
3.5
.3
1.5
1.4
.3
4.4
4.0
.3
1.4
1.9
.4
3.9
3.9
.3
1.3
1.9
.4
3.9
3.7
.3
1.1
2.0
.3
67.40
72.71
77.62
66.91
72.15
77.26
66.91
72.18
78.76
60.18
59.47
60.48
65.30
66. 28
77. 73
57.02
56. 56
59.84
64.35
64. 14
76.86
79.44
71.58
(2)
(2)
(2)
(2)
(2)
(2)
(2)
(2)
1
31
1
28
1
25
1
13
3.7
4.1
.3
1.3
2.2
.3
3.9
3.9
.3
1.1
2.2
.3
4.9
3.9
.3
1.1
2.2
.3
4.4
50
.3
2 2
2.2
3
5.9
4.6
.3
1.0
3.0
.3
.4
7
3.5
3
67.40
72.81
78.85
65.87
71.07
77.04
66.65
71.76
78.22
67.15
71.98
77.73
65 76
69 67
75 55
67.76
72. 49
74.09
70 04
r 75 84
'79 64
59.11
58.47
60.26
65.23
65.54
75.85
59.59
58.85
60.67
65.76
66.59
76. 55
61.13
60. 37
59.48
64.88
65.16
71.53
59.96
60.45
59.80
65.85
66. 78
72 17
64. 73
65. 17
60. 02
66. 09
67.37
73.38
63. 11
62. 94
58 56
64 92
65 49
71 89
66. 20
66. 35
60. 19
67.03
68.48
77 77
77. 93
76. 53
78.33
70.16
70.46
70.77
72.04
73.54
73. 17
74.03
73.33
74.41
74.36
75 55
71.78
71.06
71.27
71.43
69.64
70.95
70.18
67. 66
71.49
79.95
69.97
70. 07
79.81
70.22
69. 85
79.70
69.93
70.35
80.00
70. 43
67.74
78.62
69. 03
69.99
79. 06
68.90
70. 11
78.87
69.73
68.43
76.46
67 91
79.48
79.91
80.57
74.12
77.81
71.70
60.53
79.47
80. 55
79. 53
74. 85
76.79
71.02
59.94
79.24
79.83
80.01
74.32
78. 12
71.02
60.18
80.08
80.84
80.57
76.81
78.55
71.47
60.57
78.47
79.68
78.08
75.01
76.25
70.71
59.31
79.57
80.24
80.38
76.36
76.11
71.81
60.39
79.12
79.27
80.36
76.03
77.79
71.97
60.01
75 50
71.33
80.66
74.76
74.83
70 49
59. 06
78.38
77.76
80. 03
75.87
75.82
72.04
60.68
3
65
3
54
2
44
(2\
()
(2)
(2)
672
(2)
9
6
4
5.6
4 9
5.2
4 2
' 4.0
'3 5
m
4
3
"3.3
v3 5
v 3
v 1i
p17
P 3
r
70 78
T 76 82
r 75 81
P 72 36
P 78 61
P 76 30
' 64. 79
64 94
r 63 29
r 70 17
73 40
T 83 00
p 62. 12
4
.4
7
2.8
3
r
T
7
2 1
WAGES
Average weekly earnings (U. S. Department of
Labor) :
All manufacturing industries
dollars.
Durable-goods industries
do
Ordnance and accessories
.._ do
Lumber and wood products (except furniture)
dollars. Sawmills and planing mills . - -do. _
Furniture and
fixtures
_
do, _.
Stone, clay, and glass products
do
Glass and glass products
do
Primary metal industries
do
Blast furnaces, steel works, and rolling mills!
dollars
Primary smelting and refining of nonferrous
metals
..
- dollars
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
dollars -_
Heating apparatus (except electrical) and
plumbers' supplies
dollars. _
Machinery (except electrical) ..
. do
Electrical machinery
do
Transportation equipment
do
Automobiles
_ __ _ do. ..
Aircraft and parts
do
Ship and boat building and repairs.__do
Railroad equipment
___
do. __
Instruments and related products . do. __
Miscellaneous mfg. industries
do
r
p
1
2
70 59
T 76 72
r 78 10
' 66. 10
66 53
62 41
68 39
69 32
r
T
r
81.97
r
86. 79
r
84. 86
85.69
76.67
r
77 81
r 76 90
77 75
70.67
r
74. 26
71.17
77.84
69. 86
*r 74. 05
80 31
T
72 11
T 75. 36
80 87
T 72 66
T
r
r
r
r
r
r
r
r
r
T
r
r 81 Ql
85 16
88 20
>•r 84. 24
77. 68 i
r
74. 75
r
74 45 |
r
62.69 :
66. 27
66 55
63 50
r 70 43
71 86
r 82 14
r
75. 68
85 80
90 23
83. 09
76. 16
76 00
75 10
63. 85
r
P 64 56
P 71 44
P 85 62
75. 71
v 78. 37
73.47
T 81 36
T 72 40
P 83 54
P 74 26
r 85 19
P 87 96
88 74
84. 50
72.91
76 01
T 75 52
' 64. 40
P 77 90
v 65. 66
Revised.
Preliminary.
See note "f" for this page; comparable figure for December 1951, 43.8.
Less than 500 claims.
tRevised series. Beginning 1952, data cover all domestic (land-line) employees except messengers and those compensated entirely on a commission basis; earlier data exclude general and
divisional headquarters personnel and trainees in school.
*New series. Data beginning 1947 will be shown later.
JSee note marked "I" on p. S-ll.
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1951
December
February 1953
1952
January
February
March
April
May
June
July
August
September
October
November
December
EMPLOYMENT AND POPULATION— Continued
WAGES—Continued
Average weekly earnings, etc. — Continued
All manufacturing industries— Continued
Nondurable-goods industries
dollars. _
Food and kindred products
do
Meat products
__.do _
Dairy products
do
Canning and preserving
do
Bakery products
do
Beverages
do
Tobacco manufactures
do
Textile-mill products
_
do
Broad -woven fabric mills
do
Knittinf mills
do
Apparel and other finished textile products
dollars.
Men's and boys' suits and coats.do
Men's and boys' furnishings and work
clothing
dollars
\Vom en's outerwear
do
Paper and allied products _
_ . do
Pulp, paper, and paperboard mills.. _do
Printing, publishing, and allied industries
dollars. .
Newspapers
do
Commercial printing
do
Chemicals and allied products
do
Industrial organic chemicals
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products
do
Footwear (except rubber)
do
Non manufacturing industries:
Mining:
Metal
do
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production :
Petroleum and natural-gas production
dollars..
Nonmetallic mining and quarrying
do
Contract construction
do
Nonbuilding construction
do
Building construction
do
Transportation and public utilities:
Local railways and bus lines
do
Telephone
do
Telegraph f
do
Gas and electric utilities
do
Trade:
Wholesale trade
do
Retail trade (except eating and drinking
places)*
dollars
General-merchandise stores
do
Food and liquor stores
do
Automotive and accessories dealers. . do
Finance:
Banks and trust companies
do
Service:
Hotels year-round
do
Laundries
do
Cleaning and dyeing plants
do
Average hourly earnings (U. S. Department of
Labor) :
All manufacturing industries
_ dollars
Durable-goods industries
. do
Ordnance and accessories
do
Lumber and wood products (except furniture)
_
. . .
dollars
Sawmills and planing mills
do
Furniture and
fixtures
do
Stone, clay, and glass products . _ . . do. -.
Glass and glass products
do
Primary metal industries
do
Blast furnaces, steel works, and rolling
millsj
dollars
Primary smelting and refining of nonferrous
metals .
dollars
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
dollars .Heating apparatus (except electrical) and
plumbers' supplies
dollars. _
Machinery (except electrical)
. do ._.
Electrical machinery
do
Transportation equipment _ . ..do .
Automobiles
do
Aircraft a n d parts .. _ _ _
_ _ do .
Ship and boat building and repairs. ..do
Railroad equipment ...
. d o
Instruments and related products
do
Miscellaneous rnfg. industries
do
Nondurable-goods industries
Food a n d kindred products
Meat products
Dairy products
Canning and preserving
Bakery products
Beverages
do
______do - - do. ..
do
do
do
do_.
60.45
64. 13
73.06
61.48
51.02
59. 43
73.48
46. 53
52.70
52.62
48.08
60.04
63.40
69.66
62.79
50.35
59.04
72.94
45.27
52.40
52.10
47.66
60.12
63. 30
68.72
62.29
51.11
60.09
73. 50
43.69
52.22
51.19
48.31
60.13
63.30
68.09
62.55
51.40
59.29
73.41
43. 88
51.32
49.48
48.16
58.71
62.80
67.78
62.24
50. 44
60.25
73. 81
41.45
49.85
49.08
45.94
59.71
64.09
68.82
62. 95
49. 50
61. 57
76.95
45.40
50.78
49.42
46.86
60.83
65.34
69.91
65. 30
50.62
62.27
78.68
46.74
51.61
50.37
47.23
61.03
65.13
70.35
64.99
52.56
61.89
80.93
46.24
51.78
51.02
47.80
61.68
63.67
69.39
63.72
52.98
61.36
78.16
46.92
53.48
52.62
49.14
' 62. 42
' 64. 34
••71.17
46. 26
49.98
46.40
50.00
47.56
51.67
47.36
52.63
43.58
48.20
45.06
48.77
45.21
50.86
45.72
49.54
38.09
52. 30
66.68
72.22
38.06
53.38
66.39
71.29
39.02
54.78
66.57
71.68
39.34
53. 14
67.48
72 93
38.02
47.81
65.33
69.88
39. 47
49.43
66.34
71.01
39. 35
48.79
67.71
72.54
79.43
88.65
78.75
69.10
72.45
82.94
87.14
73.91
86.26
48.61
45.57
77.28
83. 13
78.18
69.06
72.11
82.66
86.67
74.19
86.99
49.54
47.52
77.64
84.19
77.26
68.81
72.02
82.09
85. 63
73. 31
85.75
50.19
48.52
79.06
84. 55
79. 55
69.18
72.54
82.09
85. 50
72. 58
83. 46
50. 46
49.15
78.23
85.02
78. 21
69.09
73.20
82. 34
85.68
71.40
81.90
48.53
46.57
79. 86
87.42
79.96
69.73
73. 67
75.22
76.58
73. 47
84.96
48.90
46. 63
79.43
69.98
86.28
79.12
73.58
86.39
79.25
68.97
80.27
80.59
67.00
79.26
77.67
62.52
66.68
83.85
67.32
83.83
79.08
84.94
84.53
66. 69
84.74
81. 26
85. 35
82.29
67. 60
85.95
82.73
86.60
84.57
67. 50
83. 51
79.46
84. 57
75.35
59. 44
72.21
73.63
73. 92
59.68
i 70. 77
73. 20
73. 52
59. 83
70.90
72. 82
66. 58
66.42
49.92
37.52
54. 44
67.06
51.22
38.27
54.53
66.68
r> 64. 06
p 67. 35
p 48. 36
' 76. 89
r 75. 61
r 47. 01
54.55
' 53. 76
r
49. 71
' 47. 52
' 55. 16
54.89
50.67
' 62. 83
' 66. 24
76.78
64.82
48.61
62.36
78. 35
' 46. 83
' 55. 15
54.72
50.75
48.12
54.16
r 48. 47
' 55. 27
r
48. 02
'54.37
' 47. 72
53.60
38.64
51.63
68.39
74.17
40.13
54.70
69.36
73.99
r 40. 61
' 41. 52
r 53. 94
'71.08
' 75. 72
' 51. 56
r 71. 64
' 75. 89
41.55
51.47
' 72. 04
76.72
80.16
87.32
80.52
70. 65
74.07
84.95
87. 83
75.01
87.79
50. 04
47.74
79.93
86.64
80.64
70.29
74.68
88.05
90.82
72.15
84.22
50.01
47.80
80.83
86.89
80.20
70.68
75.13
87.31
90.37
73.65
85.29
52.02
50.50
r 82. 16
r 88. 91
'81.45
71.30
' 76. 21
' 89. 28
' 92. 10
r
75. 17
' 86. 24
' 48. 73
' 81. 90
r 88. 89
81.89
71.47
r
76. 51
' 87. 96
r
90. 79
' 75. 11
' 85. 45
'51.11
47.91
' 81. 57 * 85. 03
88. 57
81.32
r
72. 15 ~~p~72.~36~
77.67
' 88. 38 *> 88. 93
91.92
' 77. 10
p 79. 84
87.40
' 50. 78 p 53. 34
47.21
80. 45
74.69
70. 25
79.32
66.67
64.30
80.38
59.35
63.45
81.17
65.70
80. 55
' 85. 40
' 76. 73
' 87. 91
' 83. 99
' 70. 85
' 75. 86
82.62
80.86
86.16
83.10
69. 31
85. 20
82. 43
85. 92
81.93
70.74
85.81
84.42
86. 03
85.53
71.31
87.35
86.72
87.50
85.85
70.45
87.78
86.36
88.09
85. 70
73.10
89.64
89.93
89. 59
89.00
' 75. 17
' 92. 18
r
94. 05
'91.68
'
'
'
'
87.02
75. 86
93. 10
94. 35
92. 77
90. 35
73.62
88.20
85.04
88.93
74.89
59.29
71.02
73.28
74. 31
53. 92
76.17
60.60
73.24
73.46
76.91
60.80
72.40
74.41
78.14
62.29
72.84
74.78
78.68
62. 05
72. 00
74.81
r
77. 56
r 62. 95
' 74. 51
r 76. 25
' 77. 63
' 63. 72
74.62
' 77. 17
77.70
64. 66
73.79
78.54
66. 13
66.62
66.49
66.94
67.59
67.80
68.13
' 68. 70
' 69. 07
69.06
50.98
37.44
54.45
67.37
50. 90
37.20
54.87
67.74
50. 97
37.04
55.16
69.28
51.68
37.91
55.12
71.08
52. 85
38.80
56.68
71.71
53.09
38.98
56.96
70.91
53.00
38.84
56.94
69.61
r
52. 30
r 37. 66
' 56. 32
r 70. 65
' 52. 29
' 37. 51
' 56. 02
' 71. 53
51.87
37.02
56.13
71.73
' 65. 61
' 55. 13
r 61. 89
r 51. 26
62. 47
64. 78
72. 74
63. 89
55. 05
62.22
r> 47. 62
p 56. 09
p 72. 46
51.81
52.05
52.14
52.30
52.03
52.12
51.96
52.44
52.48
^ 52. 41
' 52. 80
53.12
36.81
38. 34
44.14
36.47
38.55
44.08
36.59
37.96
43.14
36.38
38.00
43.39
36.72
38.47
45. 22
36. 76
39.00
46.41
36.72
39. 54
47.20
36.72
38.73
44.45
36.98
38. 20
44.13
' 36. 97
' 38. 95
' 46. 02
' 37. 36
' 39. 06
' 46. 36
37.70
38.84
45. 18
1.636
1.723
1.721
1.640
1.726
1.740
1.644
1. 731
1. 762
1.656
1.746
1.780
1.655
1.742
1.775
1.658
1.746
1.790
1.658
1.747
1.787
1.648
1.733
1.786
1.669
1.768
1.807
1.669
••1.810
' 1. 865
1.705
'1.818
'1.855
'1.718
' 1. 829
'1.840
p 1. 731
P 1. 841
p 1. 843
1.475
1.472
1.440
1.585
1.657
1.842
1.422
1.432
1.442
1.585
1. 653
1.852
1.456
1.458
1.452
1.591
1.655
1.841
1. 475
1.475
1. 469
1. 600
1.669
1.849
1.502
1.498
1.465
1.602
1.675
1.834
1.459
1.478
1.462
1.606
1.678
1.841
1.534
1.548
1. 464
1.616
1.697
1.830
1.543
1.544
1.453
1.615
1.701
1.820
1.580
1.595
1.461
1.631
1.712
1.925
r
'
r
1. 589
1. 607
1.486
1. 656
1.746
' 1.993
' 1. 574
' 1. 596
'1.494
' 1. 673
1.757
'1.984
' 1. 565
1. 580
' 1. 507
'1.695
1.808
2.000
p 1. 504
1.896
1.910
1. 885
1.892
1.876
1.884
1.923
1.911
2. 034
r
2. 122
' 2. 080
2.090
1.729
1.772
1.759
1.771
1.767
1. 776
1.779
1.803
1.843
r
1. 866
' 1. 853
1.869
1. 697
1.700
1.705
1.713
1.711
1.718
1.716
1. 700
1. 732
r I. 768
' 1. 785
' 1. 794
p 1.810
1.731
1.813
1.666
1.730
1.818
1.676
1.729
1.828
1.681
1.737
1.839
1.697
1.737
1.837
1.696
1.741
1.843
1.697
1.744
1. 847
1.705
1.728
1.838
1.702
1.753
1.849
1. 708
' 1. 780
' 1. 872
r
1.721
'1.790
1.885
1. 730
1.792
'1.901
' 1. 732
p 1.916
p 1.739
1.906
1. 978
1.827
1.830
1.907
1. 683
1.462
1.915
1.989
1.841
1.839
1.873
1. 687
1.462
1.914
1.976
1.852
1.858
1.887
1. 703
1.475
1.939
2.001
1. 878
1.878
1.902
1.714
1.481
1.928
.997
.859
.852
.892
. 708
. 479
1.936
2.001
1.878
1.858
.884
.718
.491
1.944
2.012
1.882
1. 859
1. 916
1. 730
1.489
1.921
1.987
1.889
1.846
1.866
1.732
1.484
1. 945
2. 025
1.892
1.878
1. 905
1.736
1.491
2.018
2.110
' 1.932
' 1.918
r
1.902
' 1. 760
' 1. 507
' 2. 038
' 2. 133
'1.946
'1.928
' 1. 767
'1.513
' 2. 043
2. 123
1.965
1.939
1.939
' 1. 777
' 1. 526
1.515
1.516
1.653
1.394
1. 332
1.432
1.520
1.524
1.639
1.427
1. 325
1.433
1.801
1.522
1.529
1.660
1.419
1. 331
1.448
1.806
1.530
1. 544
1.677
1.428
1.349
1. 446
1.817
.529
.543
1.682
1.421
1.345
1. 466
1 SI 8
.531
.548
.691
.421
1.306
1. 473
1.841
1. 540
1. 552
1.701
1. 432
1. 308
1.472
1. 860
1.545
1.547
1.720
1.441
.282
.477
1.882
1.542
1.538
1.726
1.445
1.318
1. 468
1.888
' 1.719
••1.471
r
1.282
r
1. 477
'1. 880
' 1. 550
' 1. 546
' 1. 732
'1.462
' 1. 333
1.492
' 1. 867
1.563
- 1. 581
1. 761
1.480
1.321
1.499
1.897
1.801
r
Revised.
* Preliminary.
1 See note "f" on p. S-13; comparable figure for December 1951, $70.47
fRevised series, See note "f" on p. S-13.
*New series. Data beginning 1947 will be shown later.
r
r
'
r
'
|See note marked "J" on p. S-ll.
1.545
' 1.521
r 1. 929
P 1. 512
P 1. 701
P 2. 024
P 2. 060
v 1. 799
p 1.545
P 1. 574
p 1.596
SURVEY OF CURRENT BUSINESS
February 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
19 52
1951
December
S-15
January
February
March
April
May
June
July
August
September
October
November
December
EMPLOYMENT AND POPULATION—Continued
WAGES— Continued
Average hourly earnings, etc.— Continued
All manufacturing industries— Continued
Nondurable-goods industries— Continued
Tobacco manufactures _
. _ . _ dollars. _
Textile-mill products
do
Broad-woven fabric mills _
.
do
Knitting mills
do
Apparel and other finished textile products
dollars-.
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
dollars
Women's outerwear
_ do __
Paper and allied products
do
Pulp, paper, and paperboard mills
do _
Printing, publishing, and allied industries
dollars. _
Newspapers
do
Commercial printing .
do _
Chemicals and allied products
do
Industrial organic chemicals
do _
Products of petroleum and coal
do
Petroleum refining _
_
do
Rubber products
do
Tires and inner tubes
_
do
Leather and leather products
do
Footwear (except rubber)
do
Nonmanufacturing industries:
Mining:
Metal
do
Anthracite
__
._ do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars
Nonmetallic mining and quarrying
do
Contract construction _ . _
do
Nonbuilding construction
do
Building construction.
_
do
Transportation and public utilities:
Local railways and bus lines
do_ Telephone
do
Telegraph f
do
Gas and electric utilities
do
Trade:
Wholesale trade
do
Retail trade (except eating and drinking
places)*
. _ dollars.General-merchandise stores - do
Food and liquor stores _ do. _.
Automotive and accessories dealers do
Service:
Hotels, year-round
do _
Laundries
do
Cleaning and dyeing plants.
do
Miscellaneous wage data:
Construction wage rates (ENR):§
Common labor
dol. per hr
Skilled labor ... _ _ ___
do
Farm wage rates, without board or room (quarterly)
dol per hr
Railway wages (average, class I)
do
Road-building wages common labor
do
1.178
1.341
1.339
1.184
1.346
1.333
1 278
1.199
1.347
1.330
1 274
1.198
1.340
1.323
1 269
1.198
1.347
1.332
1 270
1.211
1.344
1.336
1 256
1.220
1.345
1.339
1 258
1.200
1.347
1. 339
1 260
' 1. 187
1.357
' 1. 344
r
1 268
' 1. 188
' 1. 362
1.352
1.273
' 1. 210
»• 1. 365
1.351
1.275
f 1. 218
p 1. 368
1 272
1.179
1.347
1.336
1 288
1.278
1.483
1.289
1.497
1.296
1.489
1.287
1.491
1.245
1.465
1.238
1.469
1.249
1.487
1.270
1.470
1.290
1.496
r
' 1. 296
1. 506
r
* 1. 284
1. 506
' 1. 276
1.493
P 1.293
1.064
1.461
1.558
1.634
1.066
1.487
1.562
1.635
1.069
1.505
1.570
1.644
1.072
1.468
1.584
1.665
1.062
1.398
1.578
1.656
1.061
1.373
1.587
1.667
1.055
1.402
1.597
1.683
1.050
1.475
1.613
1.709
1.056
1.511
1.613
1.697
r
1. 063
1.511
1. 634
1. 721
r
2.016
2.364
1.935
1.653
1.780
2.002
2.322
1.940
1.660
1.785
2.022
2.332
1.946
1.662
1.787
2.043
2.342
1.974
1.675
1.800
2.048
2.355
1.980
1.685
1.821
2.069
2.395
1.999
1.705
1.828
2.066
2.399
2.003
1.719
1.838
2.076
2.400
2.001
1.727
1.844
2.078
2.407
1.990
1.728
1.846
* 2. 096
* 2. 436
'2.011
1.718
T
1. 868
r
r
2.013
2.110
1.794
2.104
1. 286
1. 235
2.021
2.114
1.814
2.127
1.290
1.244
2.012
2.104
1.810
2.112
1.297
1.257
2.017
2.111
1.801
2.097
1.304
1.270
2.033
2.126
1.803
2.084
1.308
1.269
2.022
2.145
1.814
2.103
1.311
1.267
2.082
2.174
1 834
2.136
1.310
1.263
2.132
2.226
1.822
2.116
1.299
1.248
2.140
2.248
1 814
2. 106
1.317
1.272
' 2. 167
r
2. 274
r
1. 829
r
2. 119
r
1. 328
r
1. 279
1.789
2.250
2.247
1. 786
2.257
2. 244
1.797
2.232
2.236
1.811
2. 226
2.239
1.802
2.225
2.230
1.812
2. 243
2.209
1 862
2.215
2 256
1.865
2.223
2.258
1.849
2.250
2.225
2.006
1.530
2.212
2.033
2.253
2.027
1. 526
2.236
2. 052
2.276
2.017
1.526
2.244
2.058
2.285
2.033
1.541
2. 251
2. 064
2.292
2.022
1.547
2.242
2.071
2.285
2.018
1.548
2.223
2.049
2.270
2.071
1 557
2.217
2 055
2.261
2.094
1.569
2.245
2.066
2.294
2.116
1.596
2.281
2. 121
2.327
1.583
1.532
1 630
1.749
1.593
1.542
1
1 612
1.747
1.581
1.554
1.615
1.759
1.607
1.540
1.614
1.770
1.612
1.545
1.624
1.566
1.783
1.666
1.585
1.626
1.802
1.674
1.591
1 618
1.807
T
1.769
1.633
1 559
1 627
1 806
r
r
T
r
r
r
r
1. 902
2. 250
2. 260
2.155
1. 620
' 2. 316
T
2. 157
r
2. 363
T
r
r
1.686
1. 614
1 749
1.833
1. 070
' 1. 473
r
1. 632
r
1. 713
1.071
1.454
r 1. 641
p 1. 643
1.724
2. 100
2. 442
2.027
1.714
' 1. 866
>• 2. 097
2.440
2.033
* 2. 131
r 1. 726
* 1. 731
»• 2. 156
2. 264
r
1. 823
r
2. 115
1.338
1.288
r 2. 161
r
r
r
r
r
r
r
r
T
r
1.876
r
2.264
1 876
2.185
r 1. 347
P 2. 185
p 1 901
P 1. 347
1.297
1. 879
2. 235
2. 334
1.917
2. 265
2.434
2.138
1. 628
2. 345
2. 184
2. 391
2.177
1.636
2.352
2. 175
2.397
1.695
1. 638
1 764
1. 855
1.704
1.658
1 761
1 879
1 688
r
1. 697
1 701
1.324
1. 070
1. 415
1. 563
1.334
r
1.081
r
1. 429
' 1. 579
1.330
1.070
1.432
1.587
.875
.955
1. 109
.885
.959
1.110
1.803
2.909
1.817
2.921
1.817
2.937
1.851
1.858
76
1.853
1 48
1.906
454
550
454
565
449
591
478
575
492
539
350
908
352
896
2 297
1,088
1,062
26
369
841
414
775
433
725
2,221
1,102
1,078
23
421
697
131,960
57 052
74, 908
110, 578
43 166
67, 412
123,886
49 278
74 608
137, 731
55 560
82 171
115, 497
44 746
70, 751
153, 516
65, 692
87, 824
1.620
1.632
1.637
1.649
1.658
1.657
1 669
1.670
1.678
1.245
1.014
1.361
1.477
1.287
1.069
1.384
1.485
1.281
1.043
1.382
1.497
1.279
1.039
1.389
1.502
1.284
1.029
1.393
1.526
1.305
1.062
1.406
1.569
1.318
1.069
1.410
1.583
1.314
1. 065
1.403
1.562
1.312
1.064
1.399
1.540
.852
.926
1.074
.852
.929
1.083
.855
.928
1.084
.856
.929
1.082
.858
.936
1.095
.863
.942
1.105
.862
.946
1.108
.866
.940
1.103
.868
.941
1.095
1.651
2.751
1.654
2.758
1.659
2. 758
1.664
2.770
1.680
2.774
1.690
2.797
1.706
2.808
1.755
2.849
1.793
2.885
1.801
86
1.807
1 29
1.830
1.809
.83
1.788
1.38
1.802
1.821
.87
1.835
1.41
430
510
416
495
450
539
r
r
r
T
.872
r
. 950
1. 109
r
r
1 817
2.942
» 89
FINANCE
BANKING
Acceptances and commercial paper outstanding:
Bankers' acceptances
mil. of dol
Commercial paper
. _ . _ _ do
Agricultural loans outstanding of agencies supervised by the Farm Credit Administration:
Total
mil of dol
Farm mortgage loans, total ...
do_
Federal land banks _ _
... _ do
Land Bank Commissioner. _
do
Loans to cooperatives
_ _
do
Short-term credit
do
Bank debits, total (141 centers)
New York City
_
Outside New York City
..do
do
do
490
434
492
480
422
544
493
517
458
534
357
820
337
860
2 313
1,074
1,046
27
343
896
124, 664
52 057
72, 607
121,433
49 535
71 898
129, 870
54 922
74, 948
2 110
1,029
998
32
429
651
408
678
396
718
2 194
1,' 050
1,021
30
377
766
129, 549
53 500
76 049
123, 059
48, 106
74, 953
114,113
45 375
68, 738
125, 269
50 180
75 089
Federal Reserve banks, condition, end of month:
Assets, total
mil. of dol_.
49, 900
48, 941
52, 492
49, 323
48, 590
49, 213
49, 549
48, 939
50, 252
50, 496
51,341
50, 479
Reserve bank credit outstanding, totaL.-do
25, 009
24, 821
26, 740
23, 783
23, 551
25, 216
23, 904
23, 270
23, 632
24, 152
24, 747
25, 855
Discounts and advances
.
do. .
19
59
328
676
952
1,318
1,895
598
133
1,270
1,591
477
22, 729
United States Government securities.- -do
23, 801
22, 514
22, 363
22, 906
22, 853
23, 821
22, 528
22, 273
23, 146
23, 694
23, 575
Gold certificate reserves- _
do. .
22, 115
22, 106
22, 143
22, 145
21, 468
21, 731
21, 992
22, 103
22, 146
22, 147
22, 147
22, 140
Liabilities, total
do
49 900
48, 941
49 213
49 549
48 939
50 479
51 341
52, 492
49 323
48 590
50 252
50 496
Deposits, total...
. do
22, 583
21, 192
21,412
20, 559
21, 952
22, 056
21, 004
21, 336
20, 746
21, 175
21,455
22, 273
Member-bank reserve balances
do
19, 982
19, 381
21, 149
20, 056
20, 077
19, 733
19, 940
20, 066
19, 778
20, 323
20, 411
20, 616
r
Excess reserves (estimated)
.
do
389
492
-192
795
634
591
495
835
319
728
797
620
Federal Reserve notes in circulation
do
25, 064
24, 405
24, 826
25, 119
25, 949
24, 423
24, 371
24, 332
24, 567
24, 843
25, 215
25, 426
Reserve ratio
percent. .
45.6
46.4
47.9
48.1
48.8
47.3
46.4
49.0
48.6
48.1
46.9
47.5
a
r
Rate as of January 1, 1953.
Revised.
v Preliminary.
1 See note "f" °n P- S-13; comparable figure for December 1951, $1.609.
§Hates as of January 1, 1953: Common labor,. $1.817; skilled labor, $2.942.
tRevised series. See note "t" on p. S-13.
*New series. Data beginning 1947 will be shown later.
51, 852
25, 825
156
24, 697
21, 986
51, 852
21, 344
19, 950
-570
26, 250
46.2
SUKVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1952
1951
December
February 1953
January
February
March
April
May
June
July
August
September
October
November
December
FINANCE—Continued
BANKING—Continued
Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month:
Deposits:
Demand, adjusted
mil. ofdol
Demand, except interbank:
Individuals, partnerships, and corporations
mil. of doLStates and political subdivisions
do._
United States Government
do _
Time, except interbank, total. _ _
do.
Individuals, partnerships, and corporations
mil. of doL_
States and political subdivisions
do . _ _
Interbank (demand and time)
do
Investments, total
do
U. S. Government obligations, direct and
guaranteed, total
. _ - mil. ofdoL
Bills
do
Certificates..
do ._
Bonds and guaranteed obligations
do
Notes _
__
do
Other securities
do
Loans, total
_
do...
Commercial, industrial, and agricultural- -do
To brokers and dealers in securities
do Other loans for purchasing or carrying securities
mil. of doLReal-estate loans
_
do - _
Loans of banks
do
Other loans _
_
do
Money and interest rates :d"
Bank rates on business loans:
In 19 cities
percent
New York City
do
7 other northern and eastern cities
do
11 southern and western cities
do
Discount rate (N. Y. F. R. Bank)
do
Federal intermediate credit bank loans
do
Federal land bank loans
do
Open market rates, New York City:
Acceptances, prime, bankers', 90 days
do _
Commercial paper, prime, 4-6 months
do
Call loans, renewal (N. Y. S. E.)
do
Time loans, 90 days (N. Y. S. E.)
do
Yield on U. S. Govt. securities:
3-month bills
do
3-5 year taxable issues
do
Savings deposits, balance to credit of depositors:
New York State savings banks
mil. of doL.
U S postal savings
do
53, 370
54, 328
52, 683
51, 162
52, 303
52, 863
51, 708
52, 766
52, 275
52, 317
53,586
54, 392
54,6^
55, 554
3,582
2,225
16, 026
54, 798
3,694
1,644
16, 070
53, 646
3,599
2,545
16, 205
51,729
3,710
3, 666
16,318
52, 913
4,070
3,184
16, 383
53, 152
4,021
2,917
16, 509
52, 818
3,705
6,914
16, 631
53, 189
3,698
4,793
16, 651
53, 253
3, 558
3,144
16, 706
53, 835
3,515
3,561
16, 829
54, 799
3,561
3,450
16,929
55, 454
3,559
3,784
16, 974
57,5^
3,7^
3,5
17, 2(
15, 152
712
13, 519
39, 056
15, 176
728
11,834
39, 260
15, 275
761
11,481
38, 833
15,385
764
12, 042
38,316
15, 444
767
10, 998
38, 563
15, 554
780
10, 895
38, 983
15, 689
763
11,990
41,019
15, 687
779
11, 274
40, 800
15, 751
765
11,965
39, 503
15, 883
756
12, 261
39, 093
16, 002
738
12,175
39, 747
16, 027
751
12, 492
40, 215
16, 3(
7,
13,6
39,8
32, 224
4,129
3,596
18, 531
5,968
6,832
35, 161
21,419
1,340
32,419
4,319
3,698
18, 456
5,946
6,841
34, 757
21, 160
969
31,892
3,855
3,798
18, 286
5,953
6,941
34, 693
21, 157
1,077
31,163
3,415
3,611
18, 220
5, 917
7,153
34, 795
21, 172
1,278
31,456
3,624
3,684
18, 274
5,874
7,107
34, 770
20, 796
1,695
31,719
3,544
3,728
18, 524
5,923
7,264
34, 863
20, 530
1,885
33, 582
3,734
3,885
20, 016
5,947
7,437
36, 472
20, 567
2,792
33, 267
3,313
3,700
20, 288
5,966
7,533
35,315
20, 581
1,988
31, 932
2,582
3,211
20, 149
5,990
7,571
35, 685
21,017
1,461
31, 579
2,513
2,617
20, 121
6,328
7,514
36, 680
21, 671
1,416
32, 361
3,610
2,433
20, 057
6,261
7,386
37, 238
22,274
1,437
32, 947
4,460
2,445
19, 974
6,068
7,268
38, 051
22, 949
1,606
32, 5(
4,0*
2,4
20, (X
5, 9!
7,3
38, 6<
23, 2(
1,9<
687
5,658
564
6,028
667
5,669
822
6,011
660
5,652
691
5,999
677
5,657
540
6,021
660
5,674
438
6,056
659
5,690
463
6,187
789
5,726
759
6,393
717
5,764
386
6,436
792
5,824
614
6,537
767
5,890
826
6,670
742
5,945
618
6,784
725
'5,992
431
' 6, 918
7
6,0(
1
7,1,
1.75
2.73
4.17
1.75
2.73
4.17
3.51
3.27
3.46
3.90
1.75
2.73
4.17
1.75
2.72
4.17
1.75
2.71
4.17
3.49
3 29
3.44
3 84
1.75
2.71
4.17
1.75
2.71
4.17
1.75
2.71
4.17
3.
3.
3.
3.
1.
2.
4.
3.27
3.01
3.23
3.67
1.75
2.71
4.17
1.75
2.73
4.17
1.75
2.73
4.17
3.45
3.23
3.47
3.79
1.75
2.73
4.17
1.69
2.31
2.38
2.47
1.75
2.38
2.45
2.56
1.75
2.38
2.38
2.56
1.75
2.38
2.38
2.56
1.75
2.35
2.38
2.56
1.75
2.31
2.38
2.56
1.75
2.31
2.38
2.56
1.75
2.31
2.38
2.56
1.75
2.31
2.57
2.61
1.75
2.31
2.63
2.63
1.75
2.31
2.63
2.63
1.75
2.31
2.63
2.63
1.
2.
2.
2.
1.731
2.09
1.688
2.08
1.574
2.07
1.658
2.02
1.623
i 1.93
1.710
1.95
1.700
2.04
1.824
2.14
1.876
2.29
1.786
2.28
1.783
2.26
1.862
2.25
2.1
2.,
12, 175
2,705
12, 208
2,695
T
12, 267
2, 682
12,382
2,669
12, 438
2,651
12, 531
2,633
r
12, 678
2, 618
12, 730
2,601
12, 786
2,586
12, 896
2,572
12, 943
v 2, 561
' 13, 046
v 2, 552
13,2
2,5
Total consumer credit, end of month. __mil. of dol._
Instalment credit, total
_. do Sale credit, total
__
do .__
Automobile dealers
do
Department stores and mail-order houses
mil. of doL.
Furniture stores
_
do
Household-appliance stores
do
All other retail stores (incl. jewelry) _. do
20, 644
13, 510
7,546
4,039
20, 126
13, 314
7,322
3,962
19,717
13,185
7,158
3,927
19, 565
13, 156
7,047
3,891
19, 788
13,319
7,099
3,946
20, 293
13, 806
7,421
4,171
20, 961
14, 409
7,820
4,446
21, 213
14, 745
8,039
4,597
21, 433
14, 939
8,149
4,634
21, 657
15, 193
8,339
4,708
r 22, 289
r 15, 573
8,653
4,882
1,186
971
613
737
1,129
933
592
706
1,082
909
567
673
1,060
893
548
655
1,064
894
541
654
1,101
924
551
674
1,132
954
588
700
1,142
974
612
714
1,166
995
625
729
1,217
1,013
648
753
1,278
1,045
666
782
Cash loans, total
-___
do
Commercial banks
do
Credit unions
_ _
do._
Industrial banks
_
do
Industrial-loan companies
do
Insured repair and modernization loans
mil. of dol._
Small-loan companies
do
Miscellaneous lenders
do_ _
5,964
2,510
542
301
229
5,992
2,521
541
300
230
6,027
2,542
545
301
232
6,109
2,593
553
303
235
6,220
2,642
568
307
239
6,385
2,726
589
319
246
6,589
2,838
614
330
254
6,706
2,892
631
341
259
6,790
2.931
647
346
263
6,854
2,971
662
352
264
' 6, 920
3,011
677
359
266
v 6, 972
v 3, 039
p683
p361
p268
p 7, 1
"3,0
P6
938
1,268
176
951
1,273
176
956
1,275
176
963
1,285
177
983
1,302
179
1,004
1,320
181
1,024
1,346
183
1,032
1,366
185
1,039
1,377
187
1,044
1,375
186
' 1, 045
1,376
186
p 1, 050
v 1, 384
p 187
P 1,0
p 1,4
do
do _ do - -
4,587
1,436
1,111
4,253
1,445
1,114
3,967
1,448
1,117
3.855
1,443
1,111
3,913
1,437
1,119
3,921
1,431
1,135
3,980
1,435
1,137
3,891
1,443
1,134
3,902
1,456
1,136
3,848
1,469
1,147
4,075
1,488
1,153
p 4, 242
P 1, 516
P 1, 156
M, 7
P 1,5
P 1, 1
Consumer instalment loans made during the month,
by principal lending institutions:
Commercial banks
.mil. ofdol
Credit unions..
. do
Industrial banks
do
Industrial-loan companies
do . _
Small-loan companies
do
354
84
50
42
292
393
85
46
38
184
373
91
46
37
181
429
95
52
41
216
429
103
50
39
211
479
116
52
44
236
497
122
56
44
248
473
113
53
42
238
418
105
50
41
211
423
105
51
39
196
449
113
55
45
209
p392
?97
P47
p39
"214
p4
Pl
5,576
5,279
44
4,599
823
111
5,153
4,953
44
3,944
826
339
6,194
5.553
43
5.258
805
88
10, 800
9,886
44
9,816
825
115
5,187
4,323
47
4,186
849
105
4,688
3,809
45
3,663
828
152
10, 220
9,796
45
9,147
845
183
3,649
3,316
48
2,464
949
188
4,585
4,050
47
3,546
862
130
6,875
6,585
52
5,834
877
112
3,355
3,099
65
2,227
923
139
4,731
4,151
44
3,624
888
175
6,3
6,0
6,742
5,018
5, 659
6,070
6,930
6,016
5,704
5,105
5,627
5,455
Expenditures, total
do
1,518
172
559
183
320
350
689
1,057
142
228
Interest on public debt.-_
do..
361
359
401
362
353
367
404
396
400
449
Veterans Administration
do
3,884
2,971
3,699
3,791
4,008
3,
775
3,
155
i
3,
425
3,414
3,070
National defense and related activities do_ _
2,137
1,502
1,353
1,150
1,337 !
1,523 '•
1,186 1
1,100
1,363 i 1,412 i
All other expenditures
do
T
Revised.
*> Preliminary.
1 Beginning April 1, 1952, includes \% percent note of December 15, 1955, and 2^ percent bond of March 15, 1956-58.
c? For bond yields see p. S-19.
6,383
572
363
3,723
1, 725
5,161
185
354
3,302
1,319
7,1
1,1
3
4,0
1,5
CONSUMER CREDIT
Charge accounts
Single-payment loans
Service credit
v 22, 803
* 15, 889
' 8, 917
P 5, 038
p23,9
v 16,5
p9,3
P 5,1
* 1,4
" 1, 333
' 1, 069 P 1, 1
P7
P672
Pg
P805
p'3
P2
p
p
p?
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures:
Receipts, total__
.
.mil.
Receipts, net
Customs __
Income and employment taxes
Miscellaneous internal revenue. _
All other receipts
ofdol._
do
do
do
do ___
do
5,0
9
SUEVEY OF CUKKENT BUSINESS
February 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-17
1952
1951
December
January
February
March
April
May
August
June
July
259, 105
256, 863
219,124
37, 739
2,242
263,073
260, 908
222, 963
37 945
2,165
September
October
November
December
FINANCE—Continued
FEDERAL GOVERNMENT FINANCE—Con.
Public debt and guaranteed obligations:
Gross debt (direct), end of month, total
mil. of doL.
Interest-bearing, total
... _ _
do
Public issues
do
Special issues
do
Noninterest bearing
do
Obligations guaranteed by U. S. Government,
end of month
mil. of dol
U. S. Savings bonds:
Amount outstanding, end of month
do
Sales, series E, F, and G
do
Redemptions __
do
Government corporations and credit agencies:
Assets, except interagency, total
mil. of dol
Loans receivable, total (less reserves)
do
To aid agriculture. ... ._
.
do. _
To aid home owners
do
To aid railroads
do
To aid other industries _
- . do
To aid banks
do
To aid other financial institutions
do
Foreign loans
do
All other
do
Commodities, supplies, and materials
do
U. S. Government securities
do
Other securities
do
Land, structures, and equipment
do
All other assets
__
do ...
Liabilities, except interagency, total..- ... .do
Bonds, notes, and debentures:
Guaranteed by the United States
do
Other
do
Other liabilities.
do
Privately owned interest
U. S. Government interest
do
do
Reconstruction Finance Corporation, loans and
securities (at cost) outstanding, end of month,
totaled
mil. of dol
Industrial and commercial enterprises, including
national defensecf
rnil of dol
Financial institutions
_ _ _ do. __
Railroads
..
do
States, territories, and political subdivisions. do
Republic of the Philippines
do
Mortgages purchased
do
Other loans _
_
do
259, 419
257, 070
221,168
35, 902
2,348
259, 775
257, 482
221 , 249
36, 233
2,294
260, 362
258, 136
221,776
36, 360
2,226
258, 084
255, 794
219, 301
36, 493
2,290
258, 292
256, 102
219, 356
36 746
2,191
259, 905
257, 739
220, 540
37 198
2,167
263, 186
261,060
222 753
38 307
2 125
262. 682
260, 577
222 216
38 360
2 105
264,
262,
224
38
2
919
820
430
390
099
267,
265,
226
38
2
432
345
557
788
087
267,
265,
226
39
2
391
293
143
150
098
42
38
37
41
44
45
46
34
39
40
45
51
54
57. 739
296
401
57, 809
440
492
57, 821
338
410
57,814
330
428
57, 772
313
437
57, 739
292
422
57, 807
364
431
57, 827
367
467
57, 868
356
399
57 871
330
416
57 903
347
398
57 958
303
346
58 046
375
422
26, 744
14 422
4, 161
2 142
101
488
814
6,110
779
1, 461
2 226
3, 463
3, 358
1,813
26, 858
14, 422
4, 239
2, 363
98
473
0)
597
6, 096
731
1,322
2,422
3,451
3, 406
1,835
27, 933
15 913
4,058
2 387
85
464
(i)
653
7 617
801
1 350
2 364
3 438
3 186
1,683
28 922
16 890
4,563
2 437
84
480
(i)
716
7 826
933
1 377
2 371
3 436
3 212
1 636
2, 573
2,499
2,472
2,774
43
1,369
1, 161
38
1,214
1,247
44
1 228
1 200
39
1 301
1,434
329
23, 842
349
24, 010
357
25 104
367
25 780
0)
831
816
803
800
795
778
754
751
753
769
787
790
793
447
84
99
19
60
78
44
439
79
99
19
57
78
45
433
76
96
18
57
77
45
432
73
96
19
57
77
46
430
71
95
19
57
76
46
420
68
95
424
54
82
16
54
74
47
427
53
82
16
54
74
47
444
53
82
16
54
73
47
458
51
82
76
46
425
55
83
16
54
75
46
73
47
464
50
80
22
54
72
47
472
47
80
22
54
72
47
73 034
65 332
16
57
22
54
LIFE INSURANCE
Assets, admitted:
All companies (Institute of Life Insurance), estimated totalt
mil. of dol
Securities and mortgages! ----do
49 companies (Life Insurance Association of
America) total
mil of dol
Bonds and stocks, book value, total
do
Govt. (domestic and foreign), total.. _ do...
U. S. Government
_
do ._
Public utility
do
Railroad
_
_ _ _ d o _ __
Other
do
Cash
__
.do . .
Mortgage loans, total
do
Farm _
__
__do _ .
Other
do
Policy loans and premium notes __ _.do .__
Real-estate holdings
do
Other admitted assets
do
67, 983
60, 919
68, 554
61, 385
68, 907
61. 734
69, 250
62, 125
69, 604
62, 500
69, 959
62, 789
70 334
63 083
70, 774
63, 590
71, 123
63, 855
71 578
64 205
72 034
64, 665
72 415
65, 010
59, 999
37, 946
11,871
9, 657
10, 781
3, 134
12 160
848
16, 027
1,350
14, 676
2, 193
1,426
1, 559
60, 350
38. 056
11. 767
9,561
10, 814
3,150
12 326
924
16, 185
1, 357
14, 828
2,199
1,432
1, 554
60, 640
38, 187
11, 706
9,514
1C, 846
3,164
12 470
851
16, 336
1,375
14,961
2, 206
1,445
1,615
60, 938
38, 385
11, 588
9,436
10, 909
3. 182
12 706
785
16,459
1, 388
15, 071
2,217
1,464
1,628
61, 237
38, 587
11. 546
9,409
10, 961
3,185
12 895
773
16. 583
1, 406
15, 176
2.226
1,471
1,597
61, 547
38, 692
11,275
9,151
11, 030
3, 196
13 190
62, 201
39, 079
11, 134
9.007
11, 109
3, 251
13 585
16, 976
1,454
15, 521
2,254
1,510
1,634
62, 495
39, 184
11,131
9,025
11,184
3,253
13 615
758
17,082
1.463
15 619
2, 262
1,520
1 688
62 808
39 310
11,127
9 044
11 212
3 281
13 690
820
17 188
1 471
1*1 717
2 270
1 526
1 694
63 159
39 565
10, 924
8 887
11 346
3 301
13 994
16, 719
1,423
15, 296
2,236
1, 483
1,637
61 857
38 780
11,096
8 989
11 066
3 238
13 380
847
16 852
1 439
15 413
2,246
1 498
1 633
63 479
39 757
10, 967
8 935
11 362
3 314
14 115
767
17 411
1 490
15 921
2, 280
1 550
1 714
Life Insurance Agency Management Association:
Insurance written (new paid -for insurance):
Value, estimated total §
mil. of dol
Group § _
_ ... ...
do __
Industrial §
do
Ordinarv, total
do
New England
do
Middle Atlantic
do
Fast North Central
do
West North Central
do
South Atlantic _.
do
Fast South Central
do
West South Central
do
Mountain
do
Pacific
_. .
._
do ...
2,478
477
436
1. 565
101
333
333
152
199
68
138
60
181
2,031
191
382
1, 458
102
333
314
126
166
60
149
52
156
2, 179
244
454
1,481
99
329
333
129
179
61
140
53
160
2,495
246
530
1,719
113
384
363
144
207
72
178
69
190
2.571
339
497
1,735
115
406
367
142
209
69
168
63
197
2,803
582
537
1,684
111
388
349
147
205
67
161
64
191
2 589
?
442
464
1 683
113
382
355
148
203
69
161
60
192
2 442
351
420
1 671
115
377
358
148
198
67
156
62
189
2 319
312
442
1 565
99
334
336
141
190
64
154
61
187
2 504
' 440
470
1 594
104
347
340
140
199
67
156
59
182
2 661
346
499
1 816
122
411
384
160
219
780
750
Institute of Life Insurance:
Payments to policyholders and beneficiaries,
364, 248
366, 424
389 502
329, 638
estimated total
thous. of dol
344 261
336 714
318 461
339 822
338 501
322 636
141, 621
155, 851
167. 995
148. 934
Death claim payments
do
149. 388
150, 656
145 944
148 980
154 506
146 410
37, 549
46, 560
38, 984
Matured endowments
.
_.do
41, 738
38. Ill
37, 479
31 584
35, 126
33 809
34 400
7,988
8,351
Disability payments
do
9.887
8,666
8,367
8, 273
8 229
8 845
8 651
8 253
38, 294
27, 987
28. 819
30, 826
29. 175
Annuity payments
do__
30, 671
29, 886
31, 177
31 200
28 532
52, 774
47, 712
Surrender values
do
57, 169
58, 473
55, 895
50,648
47, 978
50, 453
52, 947
48, 768
73, 992
101,391
Policy dividends
.
do
72, 489
58, 952
55. 142
54. 840
53,980
65. 435
57. 194
Zft 973
r
Revised.
i Less than $.500,000.
(^Includes loans under the Defense Production Act of 1950.
{Revisions for January-July 1950 are shown in corresponding note in the October 1951 SURVEY.
§Revisions, available upon request, are as follows: Total insurance written, January 1949-January 1951; group, January 1950-January 1951; industrial, 1949.
803
17 311
1 481
15 830
2, 276
1 540
1 664
162
68
212
2 516
373
474
1 669
113
398
356
136
199
71
150
61
184
339 557
154 860
39 111
9 220
31 605
52, 916
51 845
304 060
141 626
39 337
7 874
28 595
45, 127
48 W\
3 319
950
421
1 948
124
426
429
172
230
84
174
78
230
417
168
40
9
28
53,
1 17
402
314
498
244
870
198
97S
SUEVEY OF CUKRENT BUSINESS
S-18
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
February 1953
1952
1951
December
January
February
March
April
May
June
July
August
September
October
November
554, 584
70, 794
67, 806
46, 061
68, 809
301, 114
December
FINANCE—Continued
LIFE INSURANCE— Continued
Life Insurance Association of America:
Premium income (39 cos.), total thous. of doL_
Accident and health
do
Annuities - _ _ _
do
Group
do
Industrial
do
Ordinary
do
743, 465
71, 169
148, 522
48, 449
115, 161
360, 164
549, 118
53, 541
90, 144
60, 164
63, 880
281, 389
540, 742
58, 392
72, 425
47,211
66, 827
295, 887
647, 575
63, 831
84, 833
52, 941
87, 382
358, 588
520, 597
61, 474
65, 077
46, 677
62, 142
285, 227
583, 172
65, 448
65, 718
46, 683
85, 525
319, 798
617, 890
60, 836
71, 293
46,790
88,711
350, 260
550,760
62, 430
86, 209
52, 221
56, 801
293, 099
560, 435
65, 307
67, 392
43, 687
79, 894
304, 155
594, 066
66, 237
69, 008
47, 491
85, 313
326, 017
555, 235
66, 888
76, 978
47, 442
71, 553
292, 374
22, 695
289, 861
2,375
8,800
62 388
37 773
13, 160
4 850
22, 951
137,452
13, 223
76, 864
62 527
38, 741
12,410
4,962
23,190
23, 290
152, 219 -103,092
17, 805
1,473
168, 129
158, 600
61 024
63 285
38, 830
36, 602
12, 765
12, 343
4,647
4,848
23, 297
-75,357
1,313
97, 932
63 319
38, 557
12, 710
4 961
23, 296
27, 084
2,824
30, 060
66 202
40, 033
12, 806
5,147
23, 346
19, 266
3, 445
40, 051
23, 350
-31, 394
1,580
26, 047
23, 344
-32, 620
2,861
5,947
23, 342
—13, 776
1,244
34, 590
23, 339
-92, 430
2,988
86, 465
38, 739
12, 475
5,461
39, 886
13, 062
6 403
39 673
12, 944
6 498
39 411
13, 408
6 212
40, 114
14,122
6,769
89
157
513
142
587
215
236
216
382
411
258
270
3, 656
.880
6,125
.880
6,177
.880
8, 126
.880
4,678
.880
1,535
4,680
.854
5,038
.828
5, 733
.829
4,877
.833
4,499
.833
7,778
.833
5, 009
.833
4,578
.833
1 778
3, 338
3,766
2,016
2,605
3,430
2,081
5,318
3,854
2 529
4,768
4,043
1, 854
9, 525
3,682
2,998
29, 206
193, 404
2,279
5,141
185, 984
98, 234
61, 447
26, 303
28, 386
191, 600
2,100
4,300
185, 200
97, 900
61, 700
25, 600
28, 465
191, 500
2,200
5,900
183. 400
95, 700
62, 000
25, 600
28, 473
192,300
2,200
7,100
182, 900
94, 800
62, 400
25, 700
28, 464
192, 200
2,200
6, 300
183, 800
95, 100
62, 700
25, 900
28, 767
192, 900
2, 300
6, 300
184, 400
95, 300
63, 000
26, 000
29, 026
194, 960
2, 319
7, 737
184, 904
94, 754
63, 676
26, 474
28, 978
v 197, 200
p 2, 600
•e 8, 900
p 185, 800
v 95, 700
*> 63, 800
v 26, 200
29, 293
v 197, 000
p 2, 600
P 8, 200
P 186, 200
P 95. 800
p 64, 100
P 26, 300
29, 419
p 197, 900
P 2, 500
P 8, 100
P 187, 400
P 96, 400
P 64, 500
P 26, 600
29, 644
P 199, 900
P 2, 500
P 7, 200
P 190, 200
P 98, 600
P 64, 900
P 26, 700
30, 236
p 202, 700
P 2, 500
p 8, 600
P 191, 600
p 99, 400
p 64, 800
p 27, 400
37.9
22.6
30.1
20.6
32.5
21.4
34.0
22.0
34.4
21.1
34.3
21.3
38.6
22.2
35.1
20.7
31.4
20.2
34.6
21.5
34.4
21.3
36.3
22.8
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U. S
mil. of dol
Net release from earmark §
thous. of dol__
Exports
do
Imports _ ._
_ _
..do ._.
Production reported monthly total
do
Africa
do
Canada
do
United States
do
Silver:
Exports
do
Imports
do
Price at New York
dol. per fine oz__
Production:
Canada
thous of fine oz
Mexico
do
United States
do
Money supply:
Currency in circulation
mil. of dol
Deposits and currency, total
__
_._ do
Foreign banks deposits, net
do
U. S. Government balances .
_ do
Deposits (adjusted) and currency, total- --do
Demand deposits, adjusted
.
do
Time deposits
do
Currency outside banks
do
Turn-over of demand deposits except interbank and
U. S. Government, annual rate:
New York City
ratio of debits to deposits
Other leading cities
do
2 036
5,547
3,219
r
r
2, 273
3, 199
3,273
r
1, 882
3, 976
3, 292
r
1, 809
3,858
3,307
r
2, 220
2,921
2,272
T
1, 787
3,107
3,235
r
r
23, 337
23, 187
-29, 004 -263, 189
1, 580
5,587
1,872
13, 697
6,031
2,427
r
3,093
30,
P 203,
P 2,
P 6,
p 194,
433
800
400
900
500
p 101, 100
P 65, 800
p 27, 500
41.9
23.1
PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Federal Reserve) :J
Profits after taxes total (200 corps ) mil of dol
Primary metals and products (39 corps ) do
Machinery (27 corps )
do
Automobiles and equipment (15 corps ) do
Food and kindred products (28 corps ) do
Petroleum refining (14 corps )
Dividends total (200 corps )
do
do
Nondurable goods (94 corps )
do
Electric utilities, profits after taxes (Fed. Res.)t
932
565
217
123
185
368
52
125
148
815
501
220
81
170
314
40
108
129
624
338
29
80
191
287
42
105
111
683
375
102
91
144
308
49
107
114
567
325
242
482
273
210
476
270
206
475
270
205
226
257
214
207
Railways and telephone cos. (see p. S-23).
SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
capital and refunding)
mil. of dol
New capital, total
do
Domestic total
do
Corporate
do
Federal agencies
do
Municipal State etc
do
Foreign
do
Refunding, total
do
Domestic total
do
Corporate
do
Federal agencies
do
Municipal, State etc
do
1,093
1,232
883
838
562
0
276
45
211
205
83
102
19
930
929
541
39
349
1
302
302
10
71
221
855
697
667
346
36
285
30
158
158
74
76
8
1, 220
1,139
994
812
38
144
145
81
81
13
63
4
852
0
305
8
156
156
80
72
4
873
629
601
292
130
179
28
244
244
23
172
49
2,452
6,441
1,175
1,339
1,932
1,213
2,137
2,255
6,251
1,309
1.095
1,257
348
50
29
381
45
37
1, 758
1,137
874
169
6
414
49
27
1,896
428
135
107
95
22
14
747
544
201
463
187
171
12
19
26
876
444
428
1,049
490
272
47
27
51
43
723
480
219
1,584
i 1, 278
1,109
1,409
1,251
1,239
704
80
452
36
303
299
40
257
2
677
56
376
119
306
306
151
144
11
587
38
615
11
158
155
3
141
11
Securities and Exchange Commission :J
2,494
2,336
2,194
1,698
1,649
1,780
Estimated gross proceeds, total
do
By type of security:
1,534
1,425
2,139
2,248
2,063
1,545
Bonds and notes, total
do
771
870
474
314
748
636
Corporate
_ _ . . - .do. .
154
163
161
135
132
48
Common stock
_ - - do
61
82
104
83
10
63
Preferred stock
. _. - _ _ . d o _ _
By type of issuer:
972
1,116
605
478
967
871
Corporate, total
do
570
354
291
373
353
487
Manufacturing.-. _ _
-do
112
271
281
186
400
260
Public utility
do
12
34
120
29
17
23
Railroad
_
- do .26
2
3
6
48
26
Communication
do
57
40
15
13
20
24
Real estate and
financial
- - - do
1,378
1,589
1,220
677
1,368
909
Noncorporate, total
do
1,024
967
515
722
928
601
U. S. Government
do
222
396
565
145
397
296
State and municipal .._ - . _ _ _
do
'Revised.
P Preliminary.
1 Includes International Bank securities not shown separately.
§ Or increase in earmarked gold (—).
t Revisions for 1939—1st quarter of 1951 for manufacturing corporations and electric utilities and for January-March
962
808
800
363
0
437
9
154
154
72
79
2
1,381
i 1, 225
1,157
20
224
12
126
126
50
74
2
810
461
461
202
56
203
0
349
349
153
188
7
1,576
1,273
1,237
652
112
84
1,519
1,393
1,381
1,137
157
33
848
291
355
52
29
70
1,309
1,603
5,132
4,898
978
624
356
256
46
495
69
226
1951 for SEC data will be shown later.
588
335
15
26
68
883
531
294
725
181
59
966
338
220
58
97
51
1,171
547
389
SURVEY OF CURRENT BUSINESS
February 1053
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1952
1951
December
S-19
January
February
March
April
May
June
July
August
September
October
November
December
FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission!— Continued
New corporate security issues:
Estimated net proceeds, total
mil. of doL_
Proposed uses of proceeds:
New money, total
_ __ _
do
Plant and equipment
do
Working capital
_ _ _ _
do
Retirement of debt and stock, total, -do
Funded debt
do
Other debt
do
Preferred stock
do
Other purposes
_ _ _ _ _ _ do
Proposed uses by major groups:
Manufacturing, total
do
New money
do
Retirement of debt and stock
do
Public utility, total
__ _ _ _ _ _ _ d o .. _
New money
do
Retirement of debt and stock
_do. _
Railroad total
do
New money
-do _
Retirement of debt and stock
do
Communication total
do
New money
do
Retirement of debt and stock _ . _ do _
Real estate and financial, total
do
New money
- - _
do
Retirement of debt and stock. . _ _ d o
State and municipal issues (Bond Buyer):
Long-term
thous of dol
Short-term
«,. «...
do
856
595
469
954
951
1,097
836
1,290
420
456
1,034
483
955
771
682
90
55
42
11
2
29
559
487
72
23
8
15
0
13
413
278
134
49
35
13
1
7
875
655
221
60
15
45
(0
19
844
613
232
83
9
70
3
24
925
735
189
163
126
38
0
9
747
553
194
84
38
46
0
5
1,234
1.053
180
48
34
14
0
8
280
215
65
130
119
5
5
10
386
288
98
63
45
14
3
7
775
519
255
251
92
157
3
9
403
308
95
49
30
14
5
31
859
742
117
58
31
26
1
38
480
428
34
255
240
15
22
22
0
25
24
1
23
18
3
349
331
11
184
177
7
17
17
0
2
2
285
238
43
110
107
3
29
29
0
3
3
0
13
12
366
336
20
393
365
28
12
12
0
6
6
0)
20
15
2
350
329
15
265
256
7
34
34
0
47
45
3
56
55
0
559
502
56
276
256
20
119
41
78
26
26
0
40
34
5
287
255
31
349
331
17
51
16
35
29
29
0
70
68
0
351
329
21
250
248
1
46
46
0
493
493
0
68
41
24
132
89
36
105
102
3
94
10
85
22
22
0
14
9
4
185
131
53
168
165
0
12
12
0
18
18
(0
25
16
8
579
445
128
331
217
114
15
13
1
26
25
1
67
59
5
269
218
27
47
47
0
27
15
12
51
49
2
42
33
6
334
263
39
217
215
2
57
42
15
97
96
0)
51
49
1
229, 897
24,376
389, 495
292, 063
0)
14
11
1
0)
r
T
265, 503
215, 196
574, 694
93, 863
303, 614
156,037
150, 618
200, 194
456, 005
172, 674
406, 484
232, 726
637, 232
120, 022
245, 344
266, 630
211, 533
232, 288
473, 750
96, 518
309, 105
161, 739
242
380
248
338
220
304
191
286
219
364
198
286
229
378
233
461
233
349
210
250
257
229
226
265
288
291
378
1,292
816
695
1,289
809
633
1,280
790
652
1,293
756
734
1,315
756
818
1,312
725
847
365
1,327
708
912
1,387
692
1, 126
1,338
675
926
1,333
692
891
1, 316
692
860
1,347
706
878
343
1,362
724
920
97.43
97.92
72.44
98.01
98.49
73.48
97.83
98.30
73.39
98.26
98.75
73.07
98.87
99.36
98.82
73. 75
99. 31
73. 70
98.61
99.10
73.69
98.43
98.88
75.52
98.14
98. 57
76.12
97.46
97.87
76.11
98.05
98.50
75.32
98.19
98.62
75.97
97. 81
98. 25
75.84
114.8
130.9
115.6
130.8
96. 27
96.77
96.87
115.9
131.4
116.2
132.7
2 97. 95
116.3
131. 9
98.91
116.1
130.9
98.32
116.0
130.4
98.40
115.8
128.6
97.09
115.7
126.6
96. 86
114.7
125.0
96.44
115.2
125.4
96.96
115.3
125. 3
96. 37
58, 376
71,347
63, 229
75, 892
51, 332
61, 626
51, 113
59, 745
59, 014
71, 124
61, 104
72, 093
52, 964
62, 057
51, 585
5S, 329
100, 320
101, 867
56, 237
61,325
76, 955
85, 250
73, 183
83, 953
94, 402
105, 865
56, 026
67, 670
60, 802
72, 524
49, 298
58, 610
49, 640
57, 821
57, 456
67, 299
59, 632
69, 663
51,432
59, 968
50, 210
56, 686
98, 416
99,742
54, 113
58, 855
74, 892
82, 455
71, 599
81, 988
92, 009
102, 843
60, 525
3
60, 522
54, 325
6, 079
66, 971
68
66, 903
59, 389
49, 109
0
49, 109
42, 912
6,174
58, 123
30
58, 093
52, 190
61, 624
0
61, 024
55, 621
5,918
59, 323
0
59, 323
53, 321
5, 933
62, 055
0
62, 055
55, 580
6,410
62, 242
0
62, 242
55, 573
6,544
59, 136
0
59, 136
52, 793
6,269
61, 127
0
61, 127
53, 624
7,395
69, 082
25
69, 057
61, 194
7,777
78, 042
26
78, 016
71, 608
6,341
86. 042
45
85, 997
79, 101
6,819
95, 634
93, 920
1,332
98, 158
95, 920
1,839
96, 269
94, 537
1, 349
98, 221
95, 985
1,836
96,158
94, 431
1,344
98, 292
96, 060
1,832
96, 699
94, 978
1,338
98,415
96, 183
1,831
97, 355
95, 625
1,347
98, 466
96, 239
1,827
97, 311
95, 583
1, 345
98, 474
96, 249
1,825
95, 964
94, 238
1,343
97,315
95, 092
1,823
100, 273
98, 401
1,439
101,871
99, 516
1,905
100, 537
98. 656
1,448
102, 444
100, 091
1,902
99, 712
97, 838
1,447
102,315
99, 963
1,902
100, 349
98, 494
1,430
102, 341
99, 993
1,898
100, 551
98, 621
1,440
102, 405
99, 999
1, 896
100. 256
98, 276
1,492
102, 502
100, 025
1, 967
3.25
3.24
3.18
3.19
3.16
3.16
3.17
3.17
3.18
3.19
3.22
3.20
3.19
3.01
3.06
3.31
3.61
2.98
3.05
3.32
3.59
2.93
3.01
3.25
3.53
2.96
3.03
3.24
3.51
2.93
3.01
3.20
3.50
2.93
3.00
3.20
3.49
2.94
3.03
3.20
3.50
2.95
3.04
3.19
3.50
2.94
3.06
3.21
3.51
2.95
3.07
3.22
3.52
3.01
3.08
3.24
3.54
2.98
3.06
3.24
3.53
2.97
3. 05
3.22
3.51
2.99
3.20
3.33
3.00
3.20
3.34
3.02
3.20
3.36
3.05
3.22
3.39
3.05
3.19
3.37
3.04
3.19
3.34
2.38
2.42
2.74
over.
2.37
2.40
2.71
2.38
2.40
2.75
COMMODITY MARKETS
Volume of trading in grain futures:
Corn
_
Wheat
mil. of bu__
do
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. Members
Carrying Margin Accounts)
Customers' debit balances (net)
Customers' free credit balances
Monev borrowed
__
do__
do
do_
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.),
total §
dollars
Domestic
_.
do
Foreign
do
Standard and Poor's Corporation:
Industrial, utility, and railroad (Al+issues):
Composite (17 bonds)
dol. per $100 bond__
Domestic municipal (15 bonds)
do
U S Treasury bonds taxable
do
Sales:
Total, excluding U. S. Government bonds:
All registered exchanges:
Market value
thous. of dol
Face value _ __
... _ ._ _.do. New York Stock Exchange:
Market value
do
Face value
_
do _
New York Stock Exchange, exclusive of stopped
sales, face value, total §
thous. of doL
TJ. S. Government
do
Other than U. S. Government, total§
do
Domestic _ _ _ _ _ . _ _ _ do
Foreign
. . .
do .
Value, issues listed on N. Y. S. E.:
Market value, total, all issues §
mil. of dol
Domestic
do
Foreign
__
do _
Face value, total, all issues §
do.
Domestic
do
Foreign
do .
Yields:
Domestic corporate (Moody's).
percent. .
By ratings:
Aaa
Aa
A
Baa
_ ___
.
do _ .
do
do
do
96.85
7,399
116.5
132.1
5,858
By groups:
2.99
2.97
3.00
2.98
3.00
2.97
2.97
Industrial
_. do_.
3.19
3.24
3.23
3.21
3.19
3.19
3.20
Public utility __ .
do
3.50
3.32
3.48
3.31
3.38
3.36
3.32
Railroad
. _.
do_
Domestic municipal:
2.15
2.05
2.08
2.07
2.11
2.03
2.10 !
Bond Buyer (20 bonds)
do
2.04
2.10
2.05
2.07
2. 10
2.10
2.01
Standard and Poor's Corp. (15 bonds). --do
2
2.57
2.71
2.70
2.61
2.74
2.70
2.
64
U. S. Treasury bonds, taxable
do
r
]
2
Revised.
Less than $500,000.
Beginning April 1, 1952, series based on taxable bonds due or callable in 12 years and
^Revisions for January-March 1951 will be shown later.
§Sales and value figures include bonds of the International Bank for Reconstruction and Development not shown separately;
all listed bonds.
•
2.15
2.12
2.61
over; prior
2.34
2.28
2.33
2.22
2.71
2.70
thereto, 15 years and
these bonds are included also in computing average price of
S-20
SURVEY OF CURRENT BUSINESS
Unless other-wise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1952
1951
Decem-
ber
February 1953
Febru-
January
ary
March
May
April
June
August
July
Septem-
ber
October
Novem-
ber
Decem-
ber
FINANCE—Continued
SECURITY MARKETS— Continued
Stocks
Cash dividend payments publicly reported :t
Total dividend payments
mil. of dol
Finance
do ._
Manufacturing
do
Mining
_
do _
Public utilities:
Communications _ _
_ _
_
. do. _
Heat light, and power
do
Railroad
do
Trade __
do
Miscellaneous
do
Dividend rates, prices, yields, and earnings, 200
common stocks (Moody 's):
Dividends per share, annual rate (200 stocks)
dollars _Industrial (125 stocks)
do
Public utility (24 stocks)
do
Railroad (25 stocks) .
_
. . do.-.
Bank (15 stocks)
do
Insurance (10 stocks)
, do ,
1, 819. 6
212.6
1,134.4
152.1
505. 7
107.4
169. 6
4.7
181.4
42.3
64.4
2.3
1, 202. 1
75.9
813.5
97.6
533.5
93.0
195.2
8.2
233. 5
44.8
117.7
3.4
1.176.4
79.8
754.0
97.6
541.7
127.0
198.5
6.8
230.8
50.3
106.1
3.3
1 158 3
77 7
754 9
95 0
522
99
201
8
7
0
9
1
248
63
113
2
7
0
5
l
1 742 3
193 5
1 038 1
154 4
41.7
80.9
69.6
80.9
47.4
83.4
53.2
17.8
56.8
12.8
.7
46.3
7.1
15.0
3.3
25.5
74.2
51.6
39.8
24.0
89.8
57.6
24.1
53.9
11.7
.8
48.6
3.3
10.4
4.5
42.4
76.2
55.8
45.6
25.0
88.9
55.9
12.4
38.7
13.5
.8
49.1
6.4
10.4
4.4
42 0
75 7
42 4
47. 1
23 5
88
56
14
40
12
9
8
9
5
6
51
2
8
6
9
5
9
0
8
47
95
88
79
45
3.88
4.13
1.90
2.55
2.64
2.84
3.92
4.18
1.90
2.55
2.64
2.84
3.92
4.18
1.89
2.64
2.64
2.84
3.92
4.19
1.91
2. 65
2.60
2.84
3.94
4.21
1.91
2.65
2.60
2.84
3.95
4.22
1.91
2.67
2.63
2.84
3.96
4.22
1.91
2.69
2.64
2.88
3.96
4.22
1.91
2.69
2.64
2.88
3.96
4.22
1.92
2.71
2.64
2.87
3.95
4.20
1 92
2 81
2 68
2 87
3.95
4 18
1 92
2 85
2 68
2 88
3.93
4 17
1 92
2 87
2 66
2 98
3.93
4 16
1 Q2
2 87
2 75
2 98
69.94
74.24
33. 85
40.00
70.90
75.09
34. 42
42.26
68.39
72. 00
34.41
41. 59
71.35
75.63
34.73
45.28
68.29
71. 73
33.97
43.80
69.96
73. 59
34.57
45.49
72.61
77.01
34.65
47.68
73.47
78.01
35.09
47.97
72.57
76.52
36. 15
47.70
71.09
74. 58
36 34
46. 57
71.02
74.35
36 25
46.43
74.42
78 20
37 36
49 74
76. 66
80 89
37 85
51 66
5. 55
Yield (200 stocks)
percent
5.56
Industrial (125 stocks)
do
5.61
Public utility (24 stocks)
__ _ . do
6.38
Railroad (25 stocks)
do
4.45
Bank (15 stocks)
_. do .
3.47
Insurance (10 stocks)-,
_ -_
-_-do_E am ings per share (at annual rate), quarterly:
8.09
Industrial (125 stocks)
dollars
2.44
Public utility (24 stocks)
do
12.94
Riilroid (25 stocks)
do
Dividend yields, preferred stocks, 11 high-grade
4.28
(Standard and Poor's Corp.)
percent- Prices:
96.73
Dow-Jones & Co., Inc. (65 stocks) dol. per share, .
266. 09
Industrial (30 stocks)
do
46.72
Public utility (15 stocks)
- do. ..
82.30
Railroad (20 stocks)
do
Standard and Poor's Corporation:
Industrial, public utilitv, and railroad :§
182.5
Combined index (480 stocks) . - _ 1935-39= 100- _
199.1
Industrial total (420 stocks)
do
189.4
Capital goods (129 stocks)
do
167.6
Consumers' goods (195 stocks)
do
115.5
Public utility (40 stocks)
do
150. 5
Railroad (20 stocks)
__ ._ do
110.2
Banks N Y C. (16 stocks)
do
192.0
Fire and marine insurance (17 stocks)
do...
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
1,501
Market value
mil. of doL
63, 170
Shares sold
-thousands.
On New York Stock Exchange:
1,279
Market value
mil. of dol
44, 886
Shares sold
thousands
Exclusive of odd lot and stopped sales
30, 083
(N. Y. Times)
thousands. ~
Shares listed, New York Stock Exchange:
Market value, all listed shares
mil. of dcl_. ! 109, 484
Number of shares listed
millions- _ : 2,616
5.53
5.57
5.52
6.03
4.41
3.38
5.73
5.81
5.49
6.35
4.50
3.41
5.49
5.54
5.50
5.85
4.41
3.37
5.77
5.87
5.62
6.05
4.58
3.41
5.65
5.73
5.53
5.87
4.57
3.30
5.45
5.48
5.51
5.64
4.56
3.18
5.39
5.41
5.44
5.61
4.52
3.21
5 46
5.51
5.31
5.68
4.39
3.15
5 56
5.63
5.28
6 03
4.23
3. 18
5 56
5.62
5 30
6 14
4 29
3.15
5 28
5. 33
5 14
5 77
4 19
3 10
5 13
5.14
5 07
5 56
4 ig
2 99
Price per share, end of month (200 stocks) _ _ d o
Industrial (125 stocks)
do
Public utility (24 stocks)
do
Railroad (25 stocks)- _
... _ ... -do .
6.68
2.47
5 61
T
r
6.50
2.49
5 75
6 50
2 61
r 7 84
4.26
4.22
4.16
4.07
4.04
4.04
4.09
4.12
4.12
4.16
4.12
4.11
99.39
271.71
48.61
84.81
98.31
265. 19
48.87
85.05
100.02
264. 48
49.80
89.55
100. 24
262. 55
49.13
92.19
100. 87
261.61
49.29
94.61
104. 26
268. 39
49.81
100. 30
106. 25
276. 04
49.86
101. 85
107. 10
276. 70
50.75
102. 95
105. 29
272. 40
50.30
100. 43
103. 92
267 77
49.59
99 83
107. 25
276 37
51.04
103 19
111.67
285 95
52. 06
109 85
186.9
204.3
192.4
169.2
117.0
155.4
115. 4
197.6
183.2
199.2
184.7
165. 9
117.5
155.0
114.5
196.9
185. 3
201.4
184.4
167.2
117.7
161.3
113.3
199. 6
183.7
199.4
180.7
166. 3
116.7
164.6
110.9
198.4
183.7
199.2
181.7
166.1
117.1
166. 9
111.1
203.7
187.6
203.9
186.9
168.8
116.2
173.7
111.6
211.7
192.1
209.7
192.7
173.5
116.9
175. 2
112.8
215. 4
191.1
207.8
191.4
174.8
118.6
175.3
114.7
215.4
188.2
204.2
187.6
172.8
118.5
171.1
117.6
214.5
183.4
198 4
182.6
169.5
117.4
166.9
120.1
215.2
189. 8
205 5
190.2
175.7
120.9
172.4
121.5
223.1
197.0
213 7
198 5
183.2
123 3
184.6
125 1
230. 5
1,922
71,188
1,598
62, 651
1, 451
64, 450
1,647
66,676
1, 262
59, 431
1,285
56, 845
1,317
61, 433
1,154
41, 576
1,198
48, 989
1,316
62, 389
1,331
56, 903
1.906
78. 990
1,618
49, 431
1,351
42, 296
1,219
43, 464
1,373
41, 601
1,077
43, 060
1,098
42, 325
1,122
45, 916
978
29, 433
1,012
35, 165
1,121
47, 653
1,145
43, 340
1,647
57 885
37, 141
27, 195
29, 513
28, 963
23, 586
25, 516
24, 115
20, 905
24, 135
25, 981
30, 239
40, 516
111, 580
2, 627
108, 471
2.634
113,099 '
2. 644
107, 848
2, 661
110,690
2,691
114, 489
2,706
115,825
2,728
114, 506
2,736
112, 633
2,769
112,152
2,773
117, 363
2,777
120, 536
2.788
i
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS (QUARTERLY)
Exports of goods and services, total
M^erchandi^e adjusted
Income on investments abroad
Other Cervices
mil. of doL .
do
do
do
5, 520
4,130
670
720
.
..
5.310
4.167
422
721
5, 317
4, 088
454
775
4,613
3,407
466
740
3, 860
2,690
99
1 071
do
do
do
3. 593
2, 645
111
837
3, 855
2,962
89
804
3,867
2,844
109
914
Balance on goods and services
do
+ 1,927
+1,455
+ 1,450
Unilateral transfers (net) total
Private
do
do
-1,204
-114
-1,090
-916
-96
-820
— 1,328 !
-94
-1, 234
U" S long- and short "term capital (net) total do
Private
do
Government
do
— 502
-422
-80
-375
-235
-140
— 729
-519
-210
—212
-15
-197
Foreign long- and short-term capital (net)
+404
+ 173
+508
+716
Imports of goods and services, total
Merchandise adjusted
Income on foreign investments in TJ S
do
Increase (— ) or decrease (+) in U. S. gold stock
mil. of doL.
Errors and omissions
r
-
do.. __
-709
-555
+84
+218
1
l
-104
+203
Revised.
* Preliminary.
^Revisions for dividend payments for January-March 1951 will be shown later.
§Number of stocks represents number currently used; the change in the number does not affect the continuity of series.
8
0
4
4
7
+753
—1 262
-86
— 1 176
•
+7
-2
SURVEY OF CURRENT BUSINESS
February 1053
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-21
1952
1951
December
January
February
March
April
May
June
July
August
September
October
November
December
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE
Indexes
Exports of U. S. merchandise:
Quantity
Value
"Unit value
.
Imports for consumption:
Quantity
Value
__
Unit value
Agricultural products, quantity:
Exports, domestic, total:
Un adjusted
Adjusted
Total, excluding cotton:
Unadjusted
Adjusted
Imports for consumption:
Unadjusted
_
Ad justed
1936-38=100__
do
.
do
281
586
208
247
509
206
262
542
207
279
578
207
262
544
208
287
595
208
231
473
205
199
411
206
214
435
203
242
465
205
239
486
203
238
480
202
do
. do
do
131
390
299
149
446
300
147
440
298
157
474
302
154
456
296
142
411
290
145
418
289
143
407
284
140
398
283
151
430
284
169
471
279
138
388
280
148
116
129
123
125
151
121
143
95
120
104
129
81
110
56
75
65
73
77
62
93
70
88
70
157
141
157
163
164
207
178
213
139
169
159
181
121
148
102
130
112
112
117
93
142
113
125
109
93
92
121
116
120
118
122
110
118
112
104
106
107
116
101
113
108
117
111
116
116
119
90
92
8,309
6,322
8,473
7,705
7,346
6,894
8,207
7,338
8,211
7,673
9,463
8,061
8, 450
8,109
6,970
7,688
7,769
7, 580
7,421
8,344
-
1924-29 - 1 00
do
do
do
_.
do___
do
Shipping Weight
Water-borne trade:
Exports, incl. reexports 1
General imports
thous. of long tons..
do
r
Value
1,438
1,252
1, 335
1,421
1.337
1.466
1,164
1,015
1,072
1, 217
1,193
1,180
51, 379
294, 444
439, 696
180, 642
155, 186
205, 633
48, 346
223, 430
386, 044
192, 422
136. 435
152, 748
55, 557
258, 238
340, 248
203, 736
151, 888
188, 542
71, 799
238, 846
373, 171
227, 215
159, 127
200, 362
58, 616
220, 724
272, 795
242, 089
147, 395
175, 944
50, 757
227, 161
313,810
264, 760
157, 216
174, 466
44, 050
185, 467
250, 342
249, 278
137, 015
139, 958
34, 408
145, 877
173, 967
210, 072
138, 970
131, 629
41,419
150,310
198,278
219, 462
124, 740
135, 988
38, 714
147. 406
222, 051
245, 681
123, 657
139, 439
43, 993
170, 409
244, 370
256, 153
143, 791
133, 895
37, 393
159, 489
245, 018
244, 712
132, 055
127, 487
4,033
21, 503
7,718
22, 166
5,757
17, 524
7,521
29, 070
10, 320
20, 825
5,015
19, 522
4,419
17, 738
3,564
13, 175
5,563
14, 291
6,742
15, 085
12,367
14, 806
4,556
13 571
26, 026
5,047
0
82, 097
55, 251
12. 606
41. 028
19,368
3,884
0
69. 625
44. 693
10, 343
23, 045
17, 352
4,002
0
78, 827
51. 988
11, 800
25, 543
20, 973
3.792
0
66. 817
51, 065
12, 455
25, 275
17, 362
3,215
0
47, 376
64, 035
9,971
21. 225
14, 430
3,240
0
37, 951
78, 114
10, 046
21, 404
11, 583
1,714
0
29,040
56,011
9,267
25, 780
10, 128
3,129
0
18, 205
34, 138
12, 756
23, 020
7,922
2,171
0
14, 646
42, 515
10, 762
22, 317
12, 222
2,900
0
13, 914
40,164
9,964
21, 383
16, 645
2,712
0
13, 526
54, 763
9,984
21, 517
9 970
2,436
14, 079
51 195
13,009
23 988
48, 341
55, 299
44, 122
5
103, 044
41, 079
63, 151
41, 611
5
78,569
29, 283
47, 137
41, 971
2
75, 810
43, 142
40, 801
48, 362
2
87, 006
34, 349
22, 132
37, 398
2
57, 632
36, 328
31, 191
48, 893
(0
54, 608
27, 977
27, 715
49, 496
3
41, 522
16, 917
20, 148
19, 267
0)
32, 695
18, 991
36, 327
17, 192
(i)
33, 716
21, 654
33, 249
18, 607
0)
50,950
26, 924
47, 113
23, 781
4
52, 491
26 166
32, 926
23 363
2
46 008
180, 641
342, 788
18, 878
81, 924
19, 346
20, 256
44, 168
63, 502
39, 235
1,428
192, 422
274, 314
14, 750
57, 904
10, 460
15, 722
39, 866
55, 840
33, 666
1,240
203, 736
323, 981
14, 143
75, 328
12, 094
20, 957
49, 427
56, 992
43, 400
1,322
227, 196
343, 583
15, 138
74. 784
15, 125
20, 843
48, 697
65, 611
47,156
1,408
242, 081
306, 026
13, 211
65, 575
11, 083
18, 349
44, 035
58, 987
44, 977
1,327
264, 698
314, 096
13, 398
57, 825
12, 218
21, 231
43, 821
65, 843
44, 537
1,451
249, 028
259, 504
9,156
43, 231
8,287
17, 904
40,983
56, 103
42, 148
1,152
210, 009
253, 782
7,730
40, 082
8,171
18, 172
45, 014
52, 435
38, 451
1,003
219, 391
246, 061
16, 561
35, 359
8,054
20, 582
36, 946
49, 291
35, 387
1,061
245, 671
248, 588
13, 761
29, 788
10,412
17, 637
39, 463
46, 181
47, 728
1,207
256, 137
261, 073
11, 241
28, 995
10, 169
19, 069
45, 514
52, 546
43, 536
1,185
244 711
243 734
9 740
336, 272
109, 195
69, 724
161, 459
751, 674
255, 504
128, 094
60, 466
137, 139
658, 692
228, 038
130, 213
74, 109
139, 200
750, 303
188, 038
176, 398
64, 346
160, 116
819, 341
157, 558
137, 995
56, 354
161, 789
813, 072
157, 579
151, 944
68, 541
153, 893
919,525
142, 627
102, 165
58, 618
129, 620
719, 150
87, 049
72, 353
59, 376
108, 167
675, 614
114, 755
79, 566
48, 961
115, 362
70] , 977
147,010
79, 157
50,460
124, 369
806, 082
154, 523
97, 084
61,091
132, 980
739, 036
168, 052
89, 325
58, 850
122, 624
731, 600
460, 168
213, 167
20, 540
115, 574
27, 657
43, 939
377, 196
148, 899
20, 141
130, 256
27, 048
25, 886
378, 434
132, 039
19, 473
146, 557
26, 936
23, 684
372, 263
94, 195
19, 383
183, 533
23, 498
21, 324
296, 338
73, 752
18, 261
145, 176
16, 303
14, 644
317, 504
68, 084
22, 242
165, 833
14, 666
21, 879
243, 173
55, 740
24, 857
107, 312
12, 144
20, 087
169, 534
10, 287
20, 634
84, 668
13, 414
21, 070
186, 086
21, 048
18, 789
82, 284
14, 369
28, 160
220,016
50, 569
16,818
89, 237
10, 706
35, 629
263, 745
61,166
21, 028
108, 283
13, 345
30, 816
270, 661
67, 142
21,924
98, 036
13, 022
31, 980
Nonagricultural products, total
do
Automobiles, parts, and accessories^
-do
Chemicals and related productsd71
do
Coal and related fuels* _
do __
Iron and steel-mill products
_ do
968,157
99, 081
89, 030
52, 262
67, 534
862, 698
77, 987
76, 200
58, 747
62, 802
943, 489 1, 035, 976 1, 030, 429 1, 133, 978
104, 987 104, 080
101, 234
109, 788
69, 503
78, 664
80, 859
68, 266
45, 331
44, 868
43, 128
48, 512
74, 883
62, 168
78, 382
71, 770
909, 007
89, 248
65, 073
48, 016
50, 779
833. 025
69, 854
60, 313
38, 398
29, 866
874, 534
55, 944
62, 549
44, 549
41, 410
987, 061
67, 809
60, 728
41, 334
55, 825
920, 971
70,412
61,664
35, 400
66, 310
899, 790
64, 750
58, 203
35, 154
59, 779
Machinery, totalled
_ __do _
Agricultural _ _ _ _ _ _ _ _ _ - _ _ . d o _ _
Tractors, parts, and accessories §
do
Electrical §d* _ _ _
do__
Metal working
do
Other industrial cf
- - -- do _
237, 952
10, 557
28, 477
49, 002
18, 303
118, 798
214, 603
10, 818
27, 251
42, 731
19, 764
104, 267
243, 726
12, 332
29, 740
52, 645
20, 287
116, 625
231, 876
15, 728
27, 689
51, 568
20, 605
107, 408
212, 764
13, 394
20, 633
48, 731
20, 025
101, 569
204, 495
13, 102
15, 741
49, 137
20, 251
98, 790
197, 191
8,003
14, 549
48, 367
21, 736
95, 390
214, 131
8,201
18,715
48, 969
24, 906
103, 382
192, 887
7,389
15, 257
46, 555
21, 126
92, 904
Exports, including reexports, total f
mil. of doL.
By geographic regions:
Africa
thous. of doL.
Asia and OceaniaA _.
do. .
EuropeA
.
do
Northern North America
do _
Southern North America
_ do
South America..
_ _
do___
Total exports by leading countries:
Africa:
Egypt
_
__ _ .
do
Union of South Africa
do
Asia and Oceania:
Australia, including New Guinea
_ do
British Malaya
do
ChinaO
_
_ _ _ _ _ do
India and Pakistan
do
Japan
_
_ _ _ _ _ _
do
Indonesia
do
Republic of the Philippines _ _ _ _ _ _ do
Europe:
France
do
Germany
do
Italy _
_ _ _ _ _ _ _ _ __ ___ do _
Union of Soviet Socialist Republics _ _ do
United Kingdom
_
_ _.
do
North and South America:
Canada
_
do
Latin- American Republics, total . __ _ do _ _ _
Argentina
_ _
do
Brazil
_ do_ _
Chile
_
_ _
do
Colombia
do
Cuba
_
do
Mexico
-_ _ _ _ _ d o _
Venezuela
do
Exports of U. S. merchandise, totalj___mil. of dol._
By economic classes:
Crude materials
thous of dol
Crude foodstuffs
_ __
do
Manufactured foodstuffs and beverages. -do
Semimanufactures 9
do
Finished manufactures 9
do
By principal commodities:
Agricultural products, total
do
Cotton, unmanufactured _ _ _ _
_do
Fruits, vegetables, and preparations
do
Grains and preparations
do
Packing-house products _ _ _ _
do._
Tobacco and manufactures* _ __ do
264, 465
13, 872
34, 684
53, 875
23, 550
126, 394
238, 860
13, 927
30, 698
51, 155
21, 275
111, 879
264, 374
14, 543
34, 118
56, 299
23, 302
125, 740
1,388
o
25' 010
10 083
20 462
41, 127
51 216
41 570
1,170
1,379
74, 137
64, 207
74, 343
71, 352
65, 018
63, 018
70, 074
60, 502
59, 078
70, 896
64, 260
Petroleum and products
_do
63, 073
72, 721
56, 162
53, 894
59, 900
69, 591
42, 697
50,630
58, 491
48, 051
57, 290
50. 822
Textiles and manufactures
-do
55. 496
Revised. 1 Less than $500. ^Totai exports and various component items include shipments under the Mutual Security Program as follows (mil. dol.): December 1951-December 1952,
respectively—59.6; 65.0; 82.0; 96.9; 153.7; 225.9; 112.0; 129.2; 159.9; 244.0; 154.6; 189.4; 275.8.
Beginning July 1950, certain items classed as "special category" exports, although included
in total exports, are excluded from water-borne trade and from area and country data.
ABeginning 1952, Turkey is included with Europe; previously, with Asia.
9 Data for semimanufactures reported as "special category, type 1" are included with finished manufactures.
©Including Manchuria beginning January 1952.
*New series. Data prior to August 1951 will be shown later.
§Excludes "special category" exports not shown separately for security reasons.
cfData beginning January 1951 have been adjusted to conform to the 1952 revision of the export schedule.
r
SUKVEY OF CUKEENT BUSINESS
S-22
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1952
1951
December
February 1053
January
February
March
April
May
June
July
August
September
November
October
December
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
1
Value—Continued
General imports, total
thous. of dol _
By geographic regions:
Africa
do
Asia and Oceania A
do __
"R nrope A
do
Northern North America
do
Southern North America
do
South America
do
By leading countries:
Africa:
Egypt
do
Union of South Africa
do
Asia and Oceania:
Australia, including New Guinea ._ do
British Malaya
do
ChinaO
do
India and Pakistan
do
Japan
do
Indonesia
do
Republic of the Philippines
do
Europe:
France
do
Germany
do
Italy
do
Union of Soviet Socialist Republics
do
United Kingdom
do
North and South America:
Canada
do
Latin-American Republics total
do
Argentina
do
Brazil
do
Chile
do
Colombia
do
Cuba
do
Mexico
do
Venezuela
do
Imports for consumption, total
do
By economic classes:
Crude materials
do
Crude foodstuffs
do
Manufactured foodstuffs and beverages do
Semimanufactures
do
Finished manufactures
do
By principal commodities:
Agricultural products, total
do
Cocoa or cacao beans, incl. shells*
do
Coffee
do
Hides and skins
do
Rubber crude including guavule
do
Sugar
do
Wool and mohair unmanufactured
do
Nonagricultural products total
do
Furs and manufactures
do
Nonferrous ores, metals, and manufactures,
total
thous of dol
Copper incl ore and manufactures do
Tin including ore
do
Paper base stocks
do
Newsprint
do
Petroleum arid products
do
800, 629
921,887
892, 033
963, 299
932, 854
834, 771
860, 240
836, 043
816, 958
877, 352
918, 077
803, 849
34, 967
151,799
153,046
190, 085
93, 283
177, 449
68, 408
172, 689
176, 237
186, 971
127, 202
190, 380
68, 605
182, 938
153, 682
177, 268
131,474
178, 065
76, 649
205. 720
169,576
195, 583
137,915
177,856
56, 085
203, 049
174,429
189. 792
135, 787
173, 712
43, 370
168,924
149,273
195,517
129,294
148,392
54,123
181,317
159,892
210, 970
107, 033
146, 905
47, 234
157,056
156, 770
191,404
99, 374
184, 204
35, 249
160, 944
147,708
183, 408
90, 054
199, 595
30, 281
150,032
170, 650
206, 652
85, 695
234, 043
35, 033
165, 552
190, 603
219, 112
35, 596
124, 157
175, 506
221, 746
83, 799
183, 074
1,063
6,529
16, 453
11,844
18, 907
10,052
14,179
12,833
2,973
8,994
2, 367
7,809
766
8,652
7,548
8,275
2, 460
423
8,287
323
6,858
1.851
7.414
22, 486
16, 907
4, 725
19,317
14, 233
20, 075
15,858
8,518
38, 434
4,902
22, 437
17,466
29, 704
14, 626
16, 605
39, 094
5,068
28, 069
14, 520
23, 281
17,213
12, 293
65, 314
4,911
22, 905
18, 540
21,921
21,284
21, 916
42, 297
3, 699
27, 422
14,932
28. 098
16, 624
15, 676
27, 839
2, 336
25 352
16,064
23, 445
22, 348
10, 459
32, 890
1,663
22, 873
16,984
29, 120
26, 801
10,814
21,013
1,424
25, 296
18,957
18, 856
25, 973
8,771
23, 100
1,099
26, 374
17,985
24, 676
23, 484
9,302
21, 632
590
24, 231
23, 629
18,914
19, 024
8,138
19, 941
1,341
24, 912
24, 629
22, 755
18, 873
6,685
20,328
518
15, 172
14,811
12,979
2, 251
35, 446
20, 351
17, 682
11, 242
1,150
39, 017
15,020
16,009
13,019
506
31,128
13. 940
16. 434
12, 593
3,139
39, 961
14,010
14, 949
12,371
2.220
47, 267
11,202
15, 936
10, 679
805
43, 422
13,159
15,661
12, 576
1,611
37, 635
12, 684
17.099
12,412
1,508
40, 374
12,486
16,668
12, 552
1,241
35, 332
11,765
19, 133
10, 998
1,617
42, 995
15, 483
23, 001
17, 251
1,373
46, 041
12, 568
23, 810
190,080
249, 596
7,912
85, 000
11,693
36, 596
13,325
32, 850
27, 014
800, 223
186, 970
293, 779
8,294
69, 839
22, 246
42.011
30, 577
41,284
34, 098
914, 588
177, 265
288, 100
7,309
80, 426
13, 502
33, 950
32, 473
36,177
30, 222
901,437
195.485
292. 942
9. 945
74. 507
20. 292
28. 329
41.927
39, 686
31.027
971,397
189, 682
290. 462
10,900
66. 865
15,124
28, 071
47, 531
37, 497
35, 694
936,120
195,514
257, 240
9.208
48,216
16,290
21 . 697
57,131
32, 836
32, 936
843, 220
210. 425
237, 953
12,178
49, 431
13,102
24, 246
40, 437
30, 800
32,131
857, 259
190,757
268, 683
15,100
49, 574
22, 453
33,176
36, 730
25, 755
32, 731
835, 114
182,942
278, 508
11,328
63, 144
31,195
35, 704
42, 347
26, 401
31,717
815,445
205, 855
306, 621
16,441
88, 896
36, 518
36, 324
37, 109
25, 98,9
34, 804
882, 131
218, 769
287, 196
19, 574
76, 739
216, 242
187, 554
58, 588
183, 533
154,304
269, 095
193, 714
79, 253
204, 964
167, 563
270, 459
207, 041
75, 511
185,931
162, 495
300. 390
194,068
92, 714
21 5, 678
168, 547
293, 547
172,612
91,061
206, 379
172, 522
231 , 668
135,926
105,828
203, 498
1 66, 299
243, 288
149, 603
94, 516
199, 645
170, 207
213,860
149,360
97,012
199,799
175,083
209, 826
144,482
97, 640
201.379
162, 117
205, 857
177, 241
102, 381
220, 500
176, 152
268, 708
162, 006
89, 410
243, 517
202, 268
360, 194
10,533
138,847
5,154
43, 997
7, 566
35,215
440, 029
9,536
436, 838
19,274
134,147
5, 493
80, 393
25, 749
37, 906
477, 750
6, 571
439, 197
17,071
153,943
4 026
73, 821
29 394
33, 648
462, 240
6, 352
435, 698
20, 992
138,108
4. 238
80. 730
43, 382
33, 850
535, 699
8,079
408, 335
17,900
115,485
6. 223
75 927
41 . 832
37,711
527, 785
7,767
353, 198
21 , 291
76,128
4,496
49, 046
50, 893
31, 579
490, 022
6,500
344, 843
22, 303
82, 679
6, 532
52, 1 32
43, 653
23, 339
512,416
7,293
328, 522
10, 161
95, 442
5, 832
32, 558
43, 724
27, 645
506, 592
7,168
337,172
6, 871
99, 124
5, 298
40. 999
44, 526
24, 060
478, 273
5, 790
360, 598
6,344
126, 550
3,935
30, 996
40, 161
25, 086
521, 533
4,924
65, 183
19, 859
7,871
30, 483
44, 799
48, 103
65, 581
28, 625
2, 552
33, 477
42, 230
60, 458
78, 895
22, 774
5,244
31,727
43, 246
53,717
132, 381
27, 391
22, 370
29, 326
44, 960
55, 321
129, 090
24, 906
31,076
24. 649
45, 587
60,156
116,138
21,763
22, 384
25, 569
44, 484
58, 290
122, 110
20, 857
34, 388
24, 703
50, 938
55, 079
126,292
41 , 986
32, 037
21, 546
50, 191
53, 913
109, 014
42, 836
28, 282
23, 718
47, 359
51, 754
114, 528
47, 940
23, 344
26, 390
49, 899
52, 230
86,031
31,261
30, 066
24, 447
29,511
32, 964
965, 908
371,257
2 897
109, 590
4,869
32,613
19, 528
63, 073
594, 651
201,716
19, 926
20, 924
13,682
13, 828
14,128
982
38, 609
201,634
250, 416
15. 737
57, 728
27, 782
28, 044
20, 284
33, 160
32, 574
795. 493
152, 094
74,815
208, 081
178. 701
290, 160
8, 653
94, 992
3.728
27, 077
13, 708
16,719
505, 333
2,611
122,912
41,848
103, 248
30. 693
27, 071
20, 980
27, 323
47, 937
53, 979
64, 260
1,021.900
181,802
7,035
51,003
1 051 500
40,714
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Airlines
Operations on scheduled airlines:
Miles flown, revenue
thousands..
Express and freight carried
short tons..
Express and freight ton-miles flown..thousands..
Mail ton-miles
flown
do
Passengers carried, revenue
do
Passenger-miles flown, revenue
do
32, 274 - 34, 069
17,815
18, 341
11,442
11.700
5, 109
5,527
r
1,831
2, 054
973, 389 1,116,764
36, 475
36, 612
35, 566
36, 213
2 55, 643
13, 720
12, 475
15, 826
5,731
5,225
5,201
2,128
2,183
2,140
1,142,731 1, 121, 868 1,119,674
34, 211
1,571
834, 298
30, 896
16, 269
11, 734
5,688
1,520
799, 871
thous. of dol.
do...
22, 746
44
20, 143
77
20, 061
97
20, 090
46
19, 982
19
19, 958
<*5
19, 592
2
19, 505
d
19, 793
0)
20, 561
56
20, 901
7
20, 921
50
cents..
millions..
thous. of dol..
10. 8224
1,099
139, 200
10. 8808
1,072
128, 500
11. 0560
1,006
123, 900
11.0852
1,062
126, 500
11. 1922
1,053
129, 400
11.2579
1,050
128, 300
11.3820
962
118,000
11.4477
921
117,300
11. 7810
919
121, 800
11.9148
975
119,000
11. 9465
1,048
133, 500
12. 1776
964
127, 700
12, 444
7,966
33, 363
19, 142
13, 039
5,681
1,733
926, 746
33, 887
19, 233
12, 887
5,649
1,889
994, 729
32, 221
18, 484
11,911
5,871
1,576
852, 723
30,973
19,121
r
11,612
5,115
2,012
1,081,742
14, 566
5,554
1,879
972, 158
Express Operations
Operating revenues
Operating income
4
Local Transit Lines
Fares, average cash rate
Passengers carried, revenue
Operating revenues
12.2311
1,059
Class I Steam Railways
Freight carloading (A. A. R.):cf
r
3,294
2,608
2,236
3,363
3,882
4,001
3,677
2,671
2,886
3,624
2,912
2,828
2, 700
Total cars
thousands..
439
636
478
613
607
317
713
517
587
686
498
627
-584
Coal
do
57
58
58
74
68
22
15
60
65
79
53
66
'66
Coke
do
179
179
178
243
225
164
201
170
175
172
218
165
- 151
Forest products
do
221
263
187
232
255
204
253
168
195
234
162
182
197
Grain and grain products.._
do
49
66
67
42
26
24
42
36
36
34
33
37
-35
Livestock
do
r 77
357
371
403
96
44
447
387
85
105
211
76
70
Ore
do
302
289
278
364
360
350
257
265
377
297
263
294
-257
Merchandise, 1. c. 1
do
r
1,673
1,579
1,938
1,803
1,155
1,298
1,852
1,377
1,405
1,888
1,480
1,463
1,349
Miscellaneous
-do
r
d
2
Revised.
Deficit.
* Less than $500.
Data covers July-September.
ABeginning 1952, Turkey is included with Europe; previously, with Asia.
©Including Manchuria
beginning January 1952.
*New series. Data prior to August 1951 will be shown later.
for March, May, August, and November 1952 are for 5 weeks; other months, 4 weeks.
SURVEY OF CURRENT BUSINESS
February 1953
1952
1951
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
December
S--23
January
February
March
April
May
June
July
August
September
October
November
December
TRANSPORTATION AND COMMUNICATIONS—Continued
TR AN SPORT ATION—Con tinued
Class I Steam Railways— Continued
Freight carloadings (Federal Reserve indexes':
Total unadjusted
1935-39=100.
Coal
do
Coke
do
Forest products. _ _ _
_.
- d o ...
Grain and grain products
do
Livestock _ _ _
_ do . .
Ore
do
Merchandise, 1. c. 1
_ _ .-.
- --do ...
Miscellaneous
do
123
127
216
128
128
133
214
139
146
64
64
44
138
126
120
203
140
137
57
69
47
140
124
111
198
141
128
53
75
48
142
123
103
163
142
115
65
195
47
139
124
101
178
131
116
59
292
45
138
111
96
68
144
165
45
82
44
122
104
75
56
147
183
45
73
43
116
129
101
154
157
145
61
323
46
141
145
135
187
151
138
93
352
48
155
138
93
185
146
157
117
314
48
158
138
123
195
149
144
95
258
47
150
120
111
200
135
123
66
77
43
135
133
Total adjusted
_
__ .-do. _127
Coal
do
206
Coke
- - -do _144
Forest products
do
143
Grain and grain products
do _
68
Livestock
do
235
Ore
-do _44
Merchandise 1 c 1
do
142
Miscellaneous
do
Freight-car surplus and shortage, daily average:
7,855
Car surplus total
number.
1,456
Box cars
do
298
Gondolas and open hoppers
do _
3,889
Car shortage, total __ .
_ ...
do _.
1,201
Box cars
do _
2,336
Gondolas and open hoppers
do
Financial operations:
Operating revenues, total
thous. of dol. 'r 902, 169
689, 380
Freight
_-do_ _
88, 238
Passenger
do
Operating expenses
- do. . r 674, 001
Tax accruals, joint facility and equipment rents
thous. of dol. - *r 119,477
108, 692
Net railway operating income
do
1 50, 661
Net income^
- do
Operating results:
52, 664
Freight carried 1 mile
mil of ton-miles
1.372
Revenue per ton -mile
cents
3,354
Passengers carried 1 mile, revenue
..millions-
141
133
203
155
146
67
256
46
151
136
120
192
146
140
72
277
49
149
133
111
196
141
139
66
257
47
149
126
103
166
142
130
73
212
46
141
122
101
179
126
132
66
212
45
137
108
96
69
139
161
56
53
44
119
102
75
57
146
153
56
46
43
115
125
101
160
149
134
65
216
46
140
134
135
189
140
123
70
235
45
144
127
93
188
139
157
76
233
46
145
134
123
195
152
147
76
233
46
144
131
111
191
152
131
69
248
45
144
11, 255
3,906
1,430
2,014
8, 185
1,012
2,084
3,992
1,747
1.550
9,264
2,161
1,516
2.621
845
993
17, 100
4,108
3,339
1,874
365
857
24, 363
11,153
2, 554
2,296
704
959
28, 136
14,669
6,372
2,933
1,865
717
40,311
7,477
26, 642
2,070
1,490
448
5, 693
r 13, 934
331
' 1 , 691
113
' 6, 310
12,028
- 4, 924
3,822
'
1,958
T
7,691
2, 743
8,914
25
6, 996
14, 194
8, 235
5,169
5, 294
33
2, 030
7,075
4, 253
2,472
24, 003
8,113
10.456
792
449
173
867, 034
712, 906
82, 343
685, 369
844, 966
704, 301
73, 470
649, 687
875, 471
729, 286
74, 077
675, 135
847, 478
702, 145
71, 906
667,433
870, 315
720, 138
75, 955
676, 418
814,338
663, 869
81,702
645, 934
790, 718
644, 792
80, 482
634, 398
899, 734
744, 841
80, 548
663, 360
942,139
796, 010
70, 581
674, 577
985,215
838,101
66, 027
707, 483
908, 004
769, 593
65, 025
661, 229
935, 061
762, 543
84, 069
711,367
115,598
66, 067
119,385
75, 895
49, 244
123,697
76, 639
50, 239
107,732
72,313
45, 341
110,927
82, 970
54, 342
100, 529
67, 875
48, 988
95, 357
60, 9G3
35. 469
131,334
104, 939
78 155
146, 650
120, 913
94, 456
157,064
120, 669
90, 073
136, 088
110, 687
84, 158
114,091
109, 602
54, 700
1.367
54, 089
1. 370
2,697
55, 949
1.372
2,759
52, 147
1 412
2,684
54, 557
1 393
2,802
47, 293
1 475
3,065
44,817
1 524
3,076
56, 949
1 377
3 133
58,213
1.430
2,696
58, 066
1. 503
2,481
56, 975
1.417
2,416
8,348
4,688
7,837
4,696
3, 141
8,839
5, 389
3, 449
2,637
1,004
2,619
1,011
3,115
1,130
3,039
1,035
2,979
1,188
2,948
1,256
2,649
762
2,511
909
2,888
1,148
3,261
1,236
2,866
1,077
3,057
1, 109
6.37
77
242
6.39
79
240
6.24
77
225
6.74
79
251
6.20
78
266
6.70
79
260
6.39
72
237
7.15
76
255
6.91
78
251
7.13
83
259
7.17
72
241
6.49
63
233
53, 587
52, 188
1,628
26, 501
17, 592
216
50, 857
54, 537
1,661
24, 862
27, 374
232
61, 682
71, 370
1,417
19, 205
31, 638
299
65, 249
68, 599
1,439
23,897
44, 164
346
61, 610
72, 209
1 518
20 431
48, 658
559
58, 893
79, 967
1 704
18 898
51, 528
1,075
76, 484
109, 740
1 744
18 361
45, 330
2,455
88 798
111, 036
115 846
94,685
34, 150
4,008
29, 361
4,270
25, 062
1,603
21,497
982
17, 109
375
26, 700
237
780
9,531
12,072
985
886
10, 808
867
10, 655
762
9,343
763
9,446
809
10, 145
682
8,618
716
9,074
718
9,113
717
9,064
665
8, 368
341, 381
199, 422
117, 526
339, 151
198, 907
115,814
332, 063 345, 353
196, 952 i 202, 195
110,319 '• 118, 143
343 596
203, 861
114 762
352 525
205, 171
121, 895
351 732
206, 102
119 781
351 597
204, 358
120 635
354 143
205,114
122 471
357 925
210, 387
120, 911
370, 929
116, 164
127, 665
242, 793
do
40, 855
_
do
thousands. . 40, 679
240, 030
39, 077
40, 127
231, 914 \ 238, 954
42, 437
39, 702
40, 516
40, 314
234, 873
43, 627
40, 662
248, 667
41, 238
40. 847
245, 862
42, 238
40 966
258, 743
37, 140
41 105
252, 771
41 077
41 255
255, 480
40, 878
41 419
261, 973
44, 112
41, 621
10, 384
12, 894
S, 247
15, 839
14, 544
474
15,847
15, 101
*47
15,633
14, 883
*gg
17,251
15,534
974
17, 842
15, 850
1,253
15, 881
14, 761
435
135
65
73
43
134
3,396
1,859
41,364
3,089
r
Waterway Traffic
Clearances, vessels in foreign trade:§
Total U S ports
thous of net tons
Foreign
do
United States
do
Panama Canal:
Total
thous. of long tons
In United States vessels
._«.. »_do
8,197
4,690
3,508
2,915
1,205
3, 660
Travel
Hotels:
Average sale per occupied room
dollars, _
Rooms occupied f_
percent of total
Restaurant sales index
same month 1929=100.Foreign travel:
U S citizens, arrivalscf
number
U. S citizens, departurescf-- -do
Emigrants
do
Immigrants
_ _
_. - do - Passports issued
do
National parks, visitors .
thousands. .
Pullman Co.:
Revenue passenger-miles
millions
Passenger revenues
thous of dol
6.18
' 63
218
COMMUNICATIONS
Telephone carriers:©
Operating revenues
Station revenues.
Tolls message
__
Operating expenses, before taxes
Net operating income Phones in service, end of month
thous of dol
do
do
Telegraph, cable, and radiotelegraph carriers:
Wire-telegraph:
Operating revenues _ _ thous. of dol
Operating expenses, incl. depreciation
do
Net operating revenues _. _ _ . ._ _ _ d o Ocean-cable:
Operating revenues
. . _ _-do
Operating expenses, incl. depreciation
do
Net operating revenues
..
. do
Radiotelegraph :
Operating revenues
do
Operating expenses, incl. depreciation
do
Net operating revenues
_. --do - -
r
17, 423
15, 548
1,317
16,789
15, 191
717
15, 875
14, 328
716
16, 801
14, 923
1,016
7,233
10, 243
* S, 698
2,448
1, 73C
517
2,199
1,752
236
2,114
1,733
192
2,237
1,759
274
2,155
1,702
251
2,250
1,722
270
2,081
1,766
105
2,164
1,880
60
2,101
1,798
91
2,377
1,779
383
2,470
1,804
438
2,272
1,820
256
2,726
2,669
2,099
2,510
2,013
372
2,592
2,094
388
2,433
2,066
252
2,546
2,156
271
2,517
2,056
340
2,585
2,084
388
2,385
2,038
246
2, 461
2,090
259
2,611
2,160
360
2,391
2,069
267
2,156
495
443
d
d
' Revised.
Deficit.
JRevised data for November 1951, $72,423,000.
§Beginnirig July 1951, data exclude vessels under time or voyage charter to Military Sea Transportation Service.
fRevised series. Data beginning 1951 have been adjusted to the levels of the 1948 Census of Business. Revisions for January-November 1951 (percent): 76; 79; 77; 80; 79; 80; 73; 77; 80; 84; 76.
cfData exclude arrivals and departures via international land borders; land-border departures during the 12 months ended June 1950 amounted to less than 1 percent of total departures.
©Data relate to continental United States. Beginning January 1952, data exclude reports from several companies previously covered and include figures for some not included in earlier
data.
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
February 1953
1952
1951
December
January
February
March
April
May
June
July
August
September
October
November
December
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production :J
Ammonia, synthetic anhydrous (commercial)
151,632
160, 034
177,059
165, 305
158, 848
172,099
160, 859
short tons.
630
442
0)
Calcium arsenate (commercial)
do 0)
0)
0)
0)
60, 601
56, 074
58, 380
72, 178
67, 788
67, 974
69, 095
Calcium carbide (commercial)
do
53, 756
63, 579
44, 062
45, 807
47, 307
72,417
41, 033
Carbon dioxide liquid gas and solidO
do
214,128
229, 472
200, 169
221,169
215, 570
230, 271
229, 681
Chlorine gas
-- do
53, 129
48, 851
60, 191
57, 966
58, 868
50, 669
59, 055
Hydrochloric acid (100% HC1)
_ do
150
763
1, 550
1,520
1,985
279
1,456
Lead arsenate (acid and basic)
do
122,670
137, 924
144. 696
128, 065
140, 976
128, 978
135, 206
Nitric acid (100% HNOs)
do. _
1,954
1,941
2,008
2,156
1,131
2,019
1,940
Oxygen (high purity)
mil of cu. ft
172, 135
153,497
173, 334
151, 922
151, 684
168, 272
151, 099
Phosphoric acid (50% HsP04)
short tons
Soda ash, ammonia-soda process (98-100%
363, 579
334, 449
372, 529
358, 448
337, 710
367, 380
374, 204
Na2COs)
short tons.
6,428
9,722
5, 656
11,224
8.590
6, 745
10, 030
Sodium bichromate and chromate
do
230, 883
250, 564
258, 521
263, 320
247, 734
271, 996
275, 845
Sodium hydroxide (100% NaOH)
do
Sodium silicate, soluble silicate glass (anhy36, 794
41, 194
46, 852
38, 565
43, 599
45, 705
43, 192
drous)
short tons
Sodium sulfate, Glauber's salt and crude salt
65, 646
65, 838
67, 031
72, 078
67, 363
73, 973
69. 639
cake
short tons
Sulfuric acid (100% H 2 S04):
1, 181, 247 1,165.356 1, 131, 289 1, 174, 836 1, 115, 602 1, 109, 076 1, 007, 709
Production
do
Price, wholesale, 66°, tanks, at works
20.00
20.00
20.00
20.00
20.00
20.00
20.00
dol. per short ton..
Organic chemicals:
Acetic acid (synthetic and natural), production
26, 380
27. 980
30, 261
26, 535
37, 711
29, 138
34, 874
thous of Ib
27, 591
51, 944
31, 536
59, 358
45, 887
42, 711
67, 032
Acetic anhydride production
do
1,247
1,073
957
1,109
1,185
1,178
952
Acetylsalicylic acid (aspirin) production do
Alcohol, ethyl:
33, 857
26, 062
42, 254
42, 421
41, 129
32. 922
39, 825
Production
thous of proof gal
97, 550
82, 344
94, 566
74, 420
94, 442
95, 361
89, 361
Stocks total
do
In industrial alcohol bonded warehouses
55, 592
50, 584
58, 891
54, 937
51, 949
58, 660
thous. of proof gal. . 59, 296
23, 837
30, 395
41, 959
35, 675
35, 782
40, 425
30, 064
In denaturing plants
do .
33, 102
34, 108
44, 935
30, 539
40, 939
48, 917
42, 061
TTsed for denaturationf
do
1,447
1,755
1,993
1,788
1,395
1,861
2,399
Withdrawn tax-paid
do
Alcohol, denatured:
17,
868
18,368
24,
060
16,
481
21,
924
26,
106
22,
458
Production
thous. of wine gal_
18, 018
20, 284
19, 984
24, 768
21, 501
21. 388
21, 957
Consumption (withdrawals)
do
8,055
12,
093
8,555
10,
478
13,
608
14,037
8,340
Stocks
do .
7,077
14,401
13, 546
13. 293
10, 635
11, 559
11, 293
Creosote oil production
thous. of gal
5, 873
4,419
4 204
4, 160
5,470
4,359
3 887
Fthvl acetate (85%) production
thous of Ib
Glycerin, refined (100% basis):
High gravity and yellow distilled:
7,099
6,770
5, 647
6,745
7,538
6,192
4,849
Production
thous. of Ib
6,374
6, 385
5,521
6,239
5,798
5,617
5,087
Consumption
do
14, 427
17, 578
16,219
18, 104
17,013
17, 447
15, 284
Stocks
do
Chemically pure:
5,428
12, 528
11,113
7,178
11, 529
11, 704
9.681
Production
do_ 7,008
7,040
7,219
7,015
7.398
7,976
6,407
Consumption
do
24, 507
29, 435
28, 382
26, 685
28, 107
26, 582
25, 483
Stocks
do
Methanol, production:
175
173
158
192
185
201
115
Natural (100%)
thous of gal
11, 881
13, 498
13, 951
13,111
13, 756
14, 226
17, 224
Synthetic (100%)
do. .
19, 225
21, 348
21, 263
19, 462
21,519
18, 844
20, 694
Phthalic anhydride production
thous. of Ib
167, 574
704
52, 238
80, 662
194, 285
49. 282
0)
118, 340
1,046
153, 609
173, 326
45, 812
79, 391
207, 964
54, 462
0)
128, 886
1,862
179. 200
171, 721
0)
47, 947
65, 370
206, 966
57, 334
0)
134, 588
2,023
185, 295
184, 319
0)
56, 315
r
55, 292
227, 970
61, 646
0)
140, 866
2, 251
r
205, 074
178, 562
0)
56 150
46, 201
219, 804
61, 659
381
147, 180
2, 152
179, 544
336, 327
3, 722
224, 462
370, 877
5,882
242, 721
349, 218
7,001
242, 700
405, 778
8,355
260, 742
431, 598
8,107
256, 512
34, 403
35, 521
44, 948
59, 997
44, 373
58, 999
66, 516
68, 913
75, 070
76, 017
968, 467
0)
r
1,066,592 1,079,457 1, 164, 427 1, 159, 061
20.00
20.00
20.00
20.00
20.00
34, 256
65, 963
845
32, 979
70, 859
823
32, 781
74, 404
807
38, 746
80, 829
1,189
39, 190
69, 515
1, 145
39, 292
77, 437
32, 984
82, 661
36, 439
87, 430
35, 839
85, 838
31, 552
81, 702
42, 182
83, 245
47, 610
29, 827
35, 397
2,052
47, 420
35, 241
28, 577
1,629
48, 430
39, 000
31, 249
2,057
46, 419
39,419
35,172
2,058
42, 281
39,421
34, 286
2,101
44, 833
38, 412
40, 638
1.448
19, 039
17,468
9,100
6,509
4,152
15, 437
18, 261
7, 158
12, 547
8,813
16, 987
16, 799
7,326
12, 538
7,984
19, 226
19,166
7,347
13, 026
7,363
19, 613
18, 428
8,548
14, 059
8,082
23, 417
23, 665
8,285
5,855
6,003
13, 553
6,511
6,538
12, 246
7,279
6,975
12, 066
7,602
8,101
11, 447
7,043
7,102
11,006
6,237
6,628
21, 684
9,035
7,536
19, 080
10, 040
7,991
17, 173
11, 147
8,886
16,211
10, 629
7,527
15, 336
195
11, 890
18, 955
179
12, 059
16, 462
234
11, 143
17, 954
194
13, 367
19, 036
178
13, 329
20, 480
530
136, 743
7,652
117, 254
7,227
2389
203, 643
24, 643
164, 357
7,015
2380
208, 593
19, 939
170, 215
7,227
2599
171, 683
28, 068
124,084
5,893
2559
246, 357
7,955
223, 350
12, 602
2
572
169. 969
7,850
148, 826
7,848
208, 013
173, 163
202, 037
219, 807
255, 151
257, 090
173, 298
Imports total
. do
151, 448
96, 732
147, 263
165, 806
186, 622
152, 137
101, 457
Nitrogenous materials total
do
90, 517
18,
706
72,
814
59,
960
33,
915
54,
651
41,
780
Nitrate of soda
do
14, 698
17, 510
8,588
17, 751
6,832
21, 606
19, 358
Phosphate materials
do
23,
258
26,
981
27,
731
55,
022
12,
488
49,
833
44,
934
Potash materials
do
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
57.00
57.00
57.00
57.00
57.00
57.00
57.00
port warehouses
dol. per short ton__
127, 810
125, 600
157, 711
123, 582
140, 625
114, 903
121, 535
Potash deliveries
short tonsSuperphosphate (bulk):
941, 330
966, 024 1, 033, 449 .1, 101, 454 1, 137, 270 1,074,722
893, 639
Production
- - __do. 897, 818 1, 018, 081 1, 238, 946
Stocks end of month
do- -- 1, 251, 797 1, 293, 588 1,217,295 1, 046, 710
141,032
100, 674
37, 015
7,318
21, 293
169, 119
122, 146
50, 865
8, 166
27, 336
236, 462
171, 634
60, 905
6,460
33, 020
220, 823
165,102
69, 842
10,856
30, 821
194, 024
133 078
66. 738
26, 160
22 218
57. 00
113, 167
57.00
122, 979
57.00
149, 678
57.00
139, 778
57.00
119,040
926, 657
1,366,549
957, 418
1,424,214
r
20.00
FERTILIZERS
Consumption (14 States) §
Exports total
Nitrogenous materials
Phosphate materials
Potash materials
thous. of short tons..
- short tons..
do
do
do
'622
209, 754
27, 632
145, 546
5,433
1,152
201, 552
20, 560
154, 761
9, 056
1,348
214, 991
28, 775
161, 570
7,619
1,827
191, 261
10, 802
163, 553
7,469
1,819
204, 452
15, 296
173, 431
6,147
1,167
207, 943
15, 353
176, 649
7,887
2685
57.00
116,044
929, 313 rl,047,118
917, 658
939, 038
1,405,661 r l, 402,545 1, 398, 028 1, 506, 627
NAVAL STORES
Rosin (gum and wood):
Production, quarterly total
drums (520 Ib.)...
Stocks end of quarter
do
Price, gum, wholesale, "WG" grade (N.Y.), bulk
dol. per 1001b._
Turpentine (gum and wood):
392, 400
722, 580
507, 600
748, 700
49.40
167 540
197, 630
4.80
9.65
9.35
8.70
127 940
194, 450
.66
3 948, 760
904, 650
8.55
8.55
8.50
8.35
8.35
8.70
3
331 000
214, 640
.62
8.50
8.50
8.40
Stocks, end of quarter
do
------""""."62"
."63"
"61 "
".76
."86"
."62"
~60~
Price, gum, wholesale (N.Y.)
dol. per gaL_
.60"
r
1
2
Revised.
Not available for publication.
Total for 12 States; excludes data for both Virginia and Kentucky (effective July 1952, Kentucky will report semiannually; see note "§"
3
below for quarterly data for Virginia).
Total for April-September.
4 Savannah price. January 1952 quotation (Savannah) for rosin, $9.40; for turpentine, $0.80.
JRevised data for January-October 1950 and 1951 are available upon request.
©Data beginning January 1951 exclude amounts produced and consumed in the same plants manufacturing soda ash.
tRevised series. Data shown prior to the November 1951 SURVEY represent alcohol withdrawn for denaturation.
§Figures exclude data for Virginia; effective January 1951, this State reports quarterly. Data for Virginia (thous. short tons): 1951—January-March, 312; April-June, 288; July-September..
91; October-December, 111; 1952—January-March, 322; April-June, 331; July-September, 90; October-December, 100.
SUKVEY OF CURRENT BUSINESS
February 1953
1952
1951
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
December
S-25
January
February
March
April
May
June
July
August
September
October
November
December
1 016
59 840
902
56, 709
CHEMICALS AND ALLIED PRODUCTS—Continued
MISCELLANEOUS
Explosives (industrial), shipments:
Black blasting powder
High explosives
_
Sulfur:
Production
_ _ _ _ _ _ _
Stocks
long tons
do
1,355
55, 512
1,164
53, 297
thous oflb
do
1,193
59, 669
842
57, 659
556
63, 111
706
61, 905
489
57, 251
586
51,315
764
62 515
1 010
66, 177
1 184
66 621
454, 960
445, 014
435. 828
412, 481
460, 058
433, 871
477, 939
443,017
428, 810
447 481
430 811 436, 143 422, 560
2, 837, 432 2, 851, 214 2, 883, 571 2, 850, 666 2, 808, 368 2, 827, 506 2, 902, 335 2, 982, 331 3, 047, 591 3, 081, 284 3, 064, 952 3, 053, 843 3, 068, 855
FATS, OILS, OILSEEDS, AISD
BYPRODUCTS
Animal fats, greases, and oils:J
Animal fats:
Production
thous of Ib
Consumption, factory
_
do_
Stocks, end of month
do
Greases:
Production
do
Consumption, factory
do_
Stocks, end of month
do
Fish oils:
Production
do
Consumption, factory
__ do
Stocks, end of month cf
do
Vegetable oils, oilseeds, and byproducts:}:
Vegetable oils, total:
Production, crude
_ _
_ mil. of Ib
Consumption, crude, factory
do_._
Stocks, end of month:
Crudecf
do
Refined
do__
Exports
thous. of Ib
Imports, total
do___
Paint oils
do
All other vegetable oils—
do
Copra:
Consumption, factory
short tons
Stocks, end of month
do
Imports. _ _
do_
Coconut or copra oil:
Production:
Crude _.
thous. oflb
Refined
do
Consumption, factory:
Crude
__
do
Refined
do.
Stocks, end of month:
CrudecT
do
Refined
_
_
do
Imports
__do
Cottonseed:
Receipts at mills
thous. of short tons
Consumption (crush).
__do_
Stocks at mills, end of month
do
Cottonseed cake and meal:
Production
.
short tons
Stocks at mills, end of month
do_
Cottonseed oil, crude:
Production
thous. of Ib
Stocks, end of month
do_
Cottonseed oil, refined;
Production _ _
do_
Consumption, factory
do
In oleomargarine ._
do, _
Stocks, end of month
do
Price, wholesale, drums (N. Y.)*__dol. perlb.^
Flaxseed:
Production (crop estimate) §
thous. of bu_
Oil mills:
Consumption
do
Stocks, end of month
do
Price, wholesale, No. 1 (Minn.)
dol. per b u _ _
Linseed oil, raw:
Production
thous of Ib
Consumption, factory
do
Stocks at factory, end of month.
_ do
Price, wholesale (N. Y.)
dol. perlb.Soybeans:
Production (crop estimate) §
thous. of bu__
Consumption, factory
do
Stocks, end of month
__do_
Soybean oil:
Production:
Crude
thous. of lb__
Refined
_
do
Consumption, factory, refined
do. _
Stocks, end of month:
Crude
do
Refined
_
__ _ _
do
Price, wholesale, refined (N. Y.)__.dol. per lb___
398,619
96, 644
303, 436
417,530
121, 909
327, 037
388. 109
121,614
329. 625
365, 093
119, 944
325, 955
349, 058
117,906
329, 408
321, 630
114, 807
336, 784
305 335
115,548
367, 590
290 088
95, 111
377, 329
286 050
114 199
339 625
290 840
110, 119
329, 643
358 024 r 367 547
104 045
128 965
327, 150
296 004
432 751
105, 973
406, 370
56, 659
42, 189
100, 465
58, 919
45, 248
103,801
58,217
42, 173
105, 938
52,114
40, 075
100, 536
50, 357
37,913
105, 411
49, 982
36, 701
111,895
49 486
31, 969
115 580
44 932
31 098
118 495
46 040
35 164
113 738
43 600
37, 100
107 634
54 838
44 866
101 I*i2
55 434
34 533
107 530
57 588
32 518
114 150
2,305
9,089
96, 437
900
9,840
82, 084
169
8,578
73, 295
298
9,429
73, 055
5,141
9,451
68, 538
11,060
9,758
66, 640
12 748
10,174
69, 931
22 631
8,331
84, 479
22 683
9' 919
88, 854
13 407
11,763
89, 990
9 268
15 957
103, 115
5 743
14 975
92, 801
3 037
10 832
90, 117
552
478
584
529
522
509
483
482
430
487
382
442
343
410
305
361
354
394
433
413
627
566
592
532
566
562
1,254
445
68, 101
35, 813
442
35, 371
1,279
504
39,913
39, 332
1,886
37, 446
1,287
556
58, 899
24, 878
2,050
22, 827
1,275
589
61, 395
24, 596
2,563
22, 032
1,202
632
58, 561
31, 067
4,389
26, 678
1,123
624
49,815
28, 638
2,049
26, 590
1,054
572
32, 674
30, 935
5 051
25, 884
1 017
536
30 911
35. 478
5 447
30, 031
962
438
27 991
32, 922
2 153
30, 769
28, 859
21, 546
41,011
29, 807
27, 492
34, 681
30, 476
25, 202
36, 287
26, 367
20, 923
25, 848
32, 794
11, 952
23, 608
23 068
11,267
21, 892
16 051
4,061
16, 456
18 028
11 974
21, 390
952
498
41 331
35 171
5 177
29, 993
37 ggs
13 570
29 563
36, 929
22, 714
37, 492
31, 625
38, 132
27, 987
33,176
30, 494
41, 626
31,011
29, 564
32, 465
21,486
27, 765
22, 632
26 745
36, 1 59
20, 254
47, 698
27, 486
42, 364
25, 099
45, 222
26, 727
48, 037
28, 085
48,315
28, 306
43, 436
26, 131
92, 073
8,839
9,718
82. 279
9,863
7,173
82, 143
9, 103
1,767
81,387
9,013
3,731
79, 869
8,961
7,921
67, 285
8,899
7,522
617
653
1,931
322
688
1,515
163
545
1,180
55
433
802
22
306
518
303, 841
55, 430
319, 884
56, 737
253, 208
56, 176
201, 182
47, 336
206, 005
186, 292
218, 547
188, 644
176, 041
174, 795
143, 727
162, 209
182, 865
118, 578
35, 335
292, 881
.213
2
2
1
185, 037
135, 226
44, 497
336, 814
.203
1
164, 076
117, 870
35, 623
383, 410
.220
1
136, 955
107,399
28, 019
413, 893
.190
1
r
i 049
474
1 115
689
3 RR4.
32 525
1 096
578
37 005
37, 943
2 494
35, 449
32 550
10 070
23,507
35 228
16 591
43 529
30 262
12 324
24 433
29 524
12 900
47 692
36 466
41,096
38 003
45, 425
41, 035
38 622
31 423
37, 619
30 958
41 119
23, 431
51 836
30 364
56 545
34, 112
61, 323
35, 858
47 506
26 344
47 818
27, 401
56 707
7,596
9,777
49 699
7,578
15,089
50 718
8 730
12 237
46 974
7,616
10, 137
42 465
8 334
14,152
45 915
8 415
16, 162
47 506
7 980
14
218
315
14
153
176
78
117
137
398
148
386
1 170
521
1 035
1 757
782
2 010
1 097
719
2 388
539
666
2 261
146, 191
46, 396
101, 133
57, 870
69, 838
58, 946
55, 746
45, 104
70 059
47 876
248 660
81 857
379, 384
115, 114
348 802
144 420
317 680
155 303
106, 633
129, 093
72, 082
96, 917
52 822
58, 602
41 143
41, 077
44 768
38 375
156 459
103 809
249, 604
162, 946
79, 578
113, 260
28, 764
401, 400
.185
54, 023
90 150
17, 070
1361,320 i
.205
123, 723
106, 108
28, 523
434, 758
.180
1
100, 080
109. 369
28, 784
432, 620
.180
1
42
92
23
318
285
727
978
006
.205
71 655
103 262
32 434
i 288 212
.191
r
no Af)Q
36 190
1
213 966
231 827
' 188 505 178 154
173, 856 r 190 034
119, 867
r 86 397
29,2*8
24 707
343 165 i 445 493 i
r
^191
. 193
198 893
95 697
26 480
544 595
.196
3
34, 696
31 002
2,581
7,098
4.56
2,298
6,407
4.54
2,243
5,547
4.23
2,196
4,430
4.16
1, 897
3,608
3.93
2,083
3,440
3.96
2,172
3,059
4.00
1,580
3,346
'4.01
2 295
3 794
4.17
2 303
5 461
4.17
2 903
6 154
4.08
2 699
*) 621
4.10
2 285
4 967
4.10
52, 120
42, 363
656, 147
.212
46 857
40, 462
652, 657
.210
44 020
41, 734
659, 688
.195
45 707
43, 661
659, 383
.186
38 953
44, 651
646, 589
.176
41 647
43, 685
638, 021
.178
44 015
43 565
637, 975
*.155
31 860
45 899
634, 474
4. 150
46 904
54 981
622 350
*! 152
46 702
51 841
616 537
4.156
58 017
53 608
6224 079
.151
54 620
47 674
626 611
4.150
46 016
42 335
634 959
4.148
282, 477
23, 217
61, 852
24, 046
50, 901
22, 457
49, 430
21, 540
42, 708
20, 129
32, 307
19, 682
28, 493
18, 617
30, 838
17, 539
22 339
17, 549
9 071
14, 969
11 632
22, 507
85 496
«• 21, 997
r 89 783
221, 798
149, 822
134, 518
234, 386
179, 073
159, 187
222, 247
180, 626
168, 379
218, 381
183, 469
164, 911
204, 138
198, 641
171, 062
199, 002
181, 249
171, 244
189, 977
177, 198
188, 112
179, 498
162 158
142, 825
178, 795
175 008
154 982
155, 632
166 542
187 729
238, 300
199 066
210 621
3
r
230, 609
173 576
171 950
291 682
21, 397
79 852
226, 633
198 811
182 331
224, 072
245, 027
230, 950
197 473
240, 510
197 471
185 122
98 287
180 130
124 629
153 651
136 414
139 602
83, 920
109, 459
103, 120
97, 092
130, 234
126, 720
111 280
116 618
96 020
124 222
75 677
73 545
83 716
.165
.150
.155
.179
.148
.144
.174
.174
!l56
.151
!l70
!l61
!l67
r
2
3
4
Revised.
i Includes stocks owned by Commodity Credit Corporation.
Revised estimate.
December 1 estimate.
Minneapolis price; comparable data for May 1952, $0.155.
^Revisions for 1950 and for January-September 1951 for production, consumption, and stocks will be shown later.
cf Beginning with September 1950, data included for sperm oil, crude palm, castor, and coconut oil are on a commercial stocks basis.
*New series. Compiled by the U. S. Department of Labor, Bureau of Labor Statistics. Data prior to February 1951 will be shown later.
§Revisions for flaxseed (1946-49) and soybeans (1944-49) appear in corresponding note in the September 1952 SURVEY.
SUEVEY OF CUKRENT BUSINESS
S-26
1951
Unless other-wise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
December
February 1953
1952
January
February
March
April
May
June
July
August
September
October
November
December
125 694
18, 615
123, 403
23, 362
105 480
21, 694
116 840
25 283
CHEMICALS AND ALLIED PRODUCTS—Continued
FATS, OILS, ETC.—Continued
Vegetable oils, oilseeds, etc. — Continued
Oleomargarine:
Production
thous.oflb
Stocks (factory and warehouse) _
do
Price, wholesale, vegetable, colored, delivered
(eastern U. S.)* -dol.perlb
Shortenings and compounds:
Production
thous. oflb..
Stocks, end of month
do
96, 240
18, 830
128, 145
17, 485
114, 051
24, 951
96, 762
21, 655
101, 136
22, 419
100, 709
15, 839
104 040
26, 837
68 695
23 807
86 564
15 584
1
.289
.289
.259
.259
.253
.249
.266
.271
.269
'.281
*.284
i .284
116, 509
101,441
128,313
94, 405
131, 040
91, 890
128, 912
89, 120
127, 375
93, 408
138, 692
83, 228
142, 749
81, 922
112, 624
88, 436
125,114
92, 559
140, 171
74, 126
178, 057
86, 653
126, 622
93, 678
131. 749
93 668
r
120, 966
48, 711
72, 255
95, 848
55, 296
40, 552
93, 572
52, 249
41, 323
2,852
6,679
589
468
2,345
5,629
506
529
39, 144
37, 919
1 9, 868
39, 247
33, 936
8,639
21, 728
35 539
38, 515
18 315
39, 881
27, 644
8,914
21 274
284
PAINTS, VARNISH, AND LACQUER f
thous. of dol
do
__
_ _ do
77, 889
45, 465
. 32,425
113,445
42, 031
71,414
106, 386
41, 608
64, 778
110, 938
41, 594
69, 344
124, 670
44, 287
80, 383
126, 768
44, 620
82, 148
122, 571
40, 757
81,814
111,093
36, 808
74, 285
113,282
40, 974
72, 308
117 831
44. 262
73.569
SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:
Cellulose acetate and mixed ester plastics:
Sheets rods and tubes
thous. of Ib
Molding and extrusion materials.
do
Nitrocellulose sheets rods, and tubes
do
Other cellulose plastics
do
2, 526
2, 894
467
507
2,957
4,243
521
734
1,942
4,178
508
792
1,841
4,380
479
784
1,880
4,985
527
683
1,770
4,122
485
657
1,713
3,805
453
400
2 013
4.504
377
442
1,998
4,866
439
404
2,223
6,109
581
303
28, 970
26, 467
12, 961
42, 029
24. 929
6,729
15, 169
31, 652
27, 395
16, 005
43, 446
28, 616
6,592
15. 860
28, 731
26, 518
14,933
39, 245
28, 014
7,855
13, 163
28, 262
25, 951
15, 459
39, 208
28, 300
7,502
16, 586
24, 131
24, 967
14, 233
35, 955
28. 418
7,396
17, 122
24, 009
23, 959
14, 955
31. 897
29, 326
8,030
17, 341
24, 827
26, 413
15,312
29, 357
28, 507
7,882
17, 467
20 981
26, 259
11 189
28, 756
24, 342
7, 337
14 368
26,850
22, 007
16, 669
29, 582
25, 692
7,572
17, 868
Factory shipments, total
Industrial sales
Trade sales
_ __
-
Phenolic and other tar acid resins
Polystyrene
Urea and melamine resins
Vinyl resins §
Alkyd resins!
__
__
__ __
Rosin modifications
Miscellaneous resins §
do
do
do
do
_ _ do_ .
do
do
r
30 996
27. 484
16 942
32. 764
31,
224
r
9, 488
18, 078
r
r
r
T
r
ELECTRIC POWER AND GAS
ELECTRIC POWER!
Production (utility and industrial), total
mil. of kw.-hr_.
Electric utilities, total__.
.__ _ _ do __
By fuels
do
By water power _
__ _ _
. do_
Privately and inunicipallv owned utilities
mil. of kw.-hr._
Other producers
do
Industrial establishments, total
do
By fuels
do
By water power
do
Sales to ultimate customers, total (Edison Electric
Institute)
mil of kw -hr
Commercial and industrial:
Small light and power
do
Large light and power
do
Railways and railroads
do
Residential or domestic
do
Rural (distinct rural rates)
do
Street and highway lighting
do
Other public authorities
do
Interdepartmental
do
Revenue from sales to ultimate customers (Edison
Electric Institute)
thous of dol
38, 517
33, 170
24, 044
9,126
39, 710
34, 203
24, 302
9,901
36, 768
31, 536
22, 075
9,461
38, 568
33, 040
22, 597
10, 443
36, 736
31, 515
21, 553
9, 962
37, 065
31, 824
22, 132
9,692
36, 052
31, 525
22, 366
9,160
37, 007
32, 523
23, 785
8,738
39, 752
34, 361
25, 844
8,518
38, 759
33, 376
26, 019
7,357
40, 511
34, 821
27, 797
7,025
39, 351
33, 747
27, 225
6,522
42, 310
36, 452
28, 231
8,221
28, 543
4 627
5,347
4,927
420
29, 006
5 197
5,507
5,042
465
26, 717
4,819
5,232
4, 766
466
27, 647
5,393
5, 529
5,022
506
26, 559
4,956
5,221
4,753
469
26, 910
4,915
5, 240
4,745
496
26, 451
5,075
4,526
4, 141
385
27, 249
5 274
4,484
4,159
326
28, 860
5 501
5,391
5,026
365
28, 619
4 757
5,383
5,067
316
30, 227
4,594
5,690
5,422
268
29, 338
4 409
5,604
5,361
243
31, 343
5 109
5, 858
5, 537
321
28, 263
29, 217
28, 708
28, 453
27, 766
27, 178
26, 856
26, 914
28, 781
29, 440
29, 279
29, 364
4,976
13 704
527
7,447
521
347
699
43
5,124
13 797
523
8, 170
503
348
717
35
5,048
13, 700
488
7,902
496
318
722
35
4,945
13, 869
504
7,548
544
298
710
35
4,792
13, 764
458
7,157
598
268
698
30
4,767
13, 669
444
6,679
639
249
691
40
5, 046
13 069
404
6,544
800
236
713
44
5,361
12 638
396
6, 567
994
242
671
45
5,583
14 097
401
6,657
1,061
262
675
45
5,501
14 681
398
6,817
1,015
287
698
43
5,236
14, 823
426
6, 950
766
321
714
44
5, 185
14 611
433
7,446
605
341
709
34
501 349
522 258
514, 575
504, 334
494, 080
486, 460
488, 551
493, 359
512, 716
521, 495
521 103
527 280
GAStf
Manufactured and mixed gas (quarterly) :
8 057
Customers end of quarter total
thousands
7 505
Residential (incl house-heating)
do
548
Industrial and commercial
do
832
Sales to consumers total
mil of therms
520
Residential
do
296
Industrial and commercial
do
Revenue from sales to consumers, total
thous. of dol__ 127, 481
91, 562
Residential (incl. house-heating)
do
34, 598
Industrial and commercial ._
do _ _ .
Natural gas (quarterly) :
17, 066
Customers, end of quarter, total
thousands,.
15, 683
Residential (incl. house-heating)
do
1,364
Industrial and commercial
do .
Sales to consumers, total
mil. of therms. . 11, 719
3, 753
Residential (incl. house-heating)
do
7,462
Industrial and commercial
__do
Revenue from sales to consumers, total
thous. of doL. 454, 744
188, 353
Industrial and commercial
r
do
7,932
7,376
551
1, 156
785
353
7,336
6,819
512
809
491
308
6, 713
6 243
468
540
268
263
165, 655
121, 287
42, 851
120, 928
86, 277
33, 743
83, 954
57,416
25, 932
17, 553
16, 101
1,434
14, 861
6,409
8,037
18, 145
16, 694
1,433
11, 113
3,212
7,529
648, 863
434, 422
315,515
222, 670
190, 375
176, 242
ooe 110
___
i
18,899
17,441
1,438
9, 576 1
1,329
7, 630
l
Revised.
Based on 1. c. 1. shipments. Data prior to September 1952 are for carlots.
*New series. Compiled by U. S. Department of Labor, Bureau of Labor Statistics. Data prior to February 1951 will be shown later.
fRevised series. Data are estimated total factory shipments of finished paint, varnish, and lacquer. Figures supersede those shown in the SURVEY prior to the June 1952 issue,
which did not measure total shipments. Available figures for 1951 (January-November, respectively) comparable with the present series are as follows (thous. dol.): Total shipments—128,102;
117,025; 132,257; 122,925; 128,048: 121.382; 109,449; 116,205; 100,074; 109,571; 94,065; industrial—48,807; 44,938; 52,638; 47,892; 48,325; 45,348; 42,477; 45,378; 38,659; 43,565; 39,488; trade—79,295; 72,087;
79,619; 75,G33;79,723; 76,034; 66,972; 70,827; 61,415; 66,006; 54,577.
§ See note "1" in the February 1952 SURVEY and earlier issues regarding changes in classification and coverage beginning with data for January 1951.
I Unpublished revisions for January-July 1950 and 1951 for electric-power production will be shown later.
cfAll sales data formerly expressed in cu. ft. are now published in therms by the compiling source; 1932-49 figures expressed in therms and minor revisions for customers and revenue for
1932-44 will be shown later. Revisions for the first 2 quarters of 1950 are shown in the corresponding note in the October 1951 SURVEY; those for the first 2 quarters of 1951 will be shown later.
SUKVEY OF CURRENT BUSINESS
February 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1951
December
S-27
1952
January
February
March
April
May
June
July
August
September
October
November
December
7,132
7,182
10 597
6,844
6,852
10, 132
5,787
5,908
9,598
6,686
6,774
9,096
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
Production
thous. of bbl._
Tax-paid withdrawals
_
do
Stocks end of month
do
Distilled spirits:
Production
thous of tax i?al
Consumption, apparent, for beverage purposes
thous of wine ?al
Tax-paid withdrawals
thous. of tax gal
Stocks, end of month
do
Imports _
_
thous. of proof gal
Whisky:
Production
_
thous. of tax eal
Tax-paid withdrawals
do ...
Stocks, end of month- _
do
Imports
thous. of proof sal
Rectified spirits and wines, production, total d"
thous. of proof gal_.
Whiskv
....doWines and distilling materials:
Sparkliner wines:
Production __ _.
thous. of wine gal
Tax-raid withdrawals
do
Stocks, e n d o f month- _ _ _ _ _
do
Imports
do
Still wines:
Production
_
do
Tax-raid withdrawals
__
. ..do- _
Stocks, end of month, _
do
Imports .
_ . _ ... _.
__..do--Distilling materials produced at wineries do
6,291
6,089
9,240
6,971
6,447
9,303
6,607
5,604
9,895
7, 326
6,099
10, 663
7,439
6,744
10, 891
7,962
7,381
10, 941
19, 396
17, 033
15, 547
15, 009
14, 194
11, 642
8,577
6 444
6 453
9 837
20, 691
12, 265
10, 558
19, 427
7,731
925, 195
1,696
12, 038
6,588
932, 578
1,254
12, 459
7,747
936, 420
1,210
14, 449
9,757
940, 071
1,515
13, 905
9,573
941,057
1,315
14, 618
9,345
940, 432
1,362
13, 119
9,721
937, 156
1,326
13, 140
9,972
932, 414
1,229
13 432
8,006
929 033
1,088
1 5, 322
11, 509
921, 480
1,575
19 463
15,909
909, 081
2,048
18, 966
15, 013
898, 143
2,360
10,216
894, 495
10, 465
4,682
760, 803
1,516
9,548
4,095
765, 029
1,129
9,114
4,646
767, 819
1,102
8,648
5,536
768, 745
1,401
8, 045
4,997
769, 763
1,208
6,793
4,546
769, 996
1,265
4,823
5,026
767, 558
1,234
2,515
4,322
763, 490
1,141
2,677
3,980
760, 079
979
3,208
6,204
754, 200
1,443
3, 859
9,053
745, 1 81
1 826
3,683
8,312
737, 913
2 162
5,782
5,676
735, 175
7,354
6,516
5,100
4,348
6,091
5,410
7,090
6,186
6,944
6,037
7,422
6,469
7,024
6,150
7,590
6, 389
5,936
4,785
8,585
7,504
11,446
10,116
11, 536
10, 455
7,732
6,614
118
173
1,316
98
141
76
1,365
41
67
61
1, 354
27
55
59
1, 334
31
201
69
1,458
31
129
71
1,510
36
102
86
1,515
35
63
73
1, 503
28
100
78
1, 518
29
62
112
1,467
40
90
158
1,384
64
86
8,396
10, 904
231, 617
605
25, 981
2,937
10,704
222, 569
391
6,253
1, 368
10, 630
210, 203
292
526
1,462
11,411
199, 116
416
456
1,644
10, 453
189, 087
427
770
1,640
9,368
181,416
365
126
853
9.120
170, 606
360
155
547
7,980
162 733
272
1,758
1 741
8,440
153 728
297
68, 706
20 940
11, 993
162 350
324
49, 009
66 H82
13,822
219 5P5
513
124 199
70, 397
27, 051
.791
77, 980
13, 874
.803
78, 795
7,879
.845
93, 095
6, 505
.738
104. 120
10, 522
.714
1 34, 980
30, 821
.693
130. 210
68,616
.690
121 465
99, 751
.714
108 320
111,400
.737
94 885
111 319
.732
89 575
102 177
.716
66, 491
43, 684
222, 136
194, 784
3,863
70,170
45, 955
193,272
167, 824
4,895
70, 860
47, 125
166,040
142, 945
3, 385
86. 350
59, 025
155,195
133,815
2,832
103,235
75, 075
158, 949
139, 705
3,263
139, 160
107, 525
185, 927
164, 654
1,904
139,870
109,780
217, 604
192, 920
2,942
121,925
64, 81 5
239, 632
211,477
3,873
112 370
85, 340
253, 563
222, 933
3 502
99 235
73, 905
262, 467
231,503
6 486
89 090
63 270
256, 885
225 317
5 939
78 110
53 290
rr 242, 509
210 029
5 699
.449
.444
.436
.429
.423
.429
.435
.436
444
465
463
457
431
13, 636
6,191
141, 096
13, 400
6, 550
157, 000
14, 400
6,400
163, 800
17, 600
7,350
205, 000
21,250
4,500
261, 850
36. 920
4,200
369, 500
27 400
4,750
349, 000
20 660
3,500
273, 250
21 200
3 650
277, 200
14 600
4 650
245, 625
10 250
3 725
208, 000
10 100
4 575
171,750
9,185
225, 988
6, 585
140,611
7,388
74, 505
8,237
76, 443
7,299
123, 180
8,195
225, 802
9,540
390, 517
7,975
417,013
7,842
480 266
8, 354
408 805
7 190
493 073
9 OTO
r 3 275
167, 100
r 7 519
446 641
1,262
6,048
6,856
5,731
3,215
7,025
4,729
5,676
2,301
8,296
2,656
8.031
1,528
10 351
2,321
10 570
1 665
9 029
1 484
5 764
1 361
12 342
1 071
7 740
10.80
6.19
10.80
6.25
10.80
6.34
10. 80
6.38
10.80
6.39
10.80
6.32
10 80
6.30
10.80
6.33
10 80
6.38
10 80
6.39
10 80
6.40
10 80
6.39
10 80
6.33
7.797
2,477
5.43
8,178
2,706
5.44
8,170
2,731
5.48
9,494
3,292
5.46
10. 129
3, 823
5.33
12, 049
5,061
5.26
11 956
4,972
5.23
11 039
4,439
5.33
10 210
4,062
5.43
9 060
3 558
5.55
8 578
3 247
5.66
7 797
2 768
5.70
8 176
3 250
5.63
6, 157
35, 960
7,415
45, 350
6.830
49, 250
8,540
67, 800
8, 945
82, 050
11 035
120, 850
13 570
115,875
9 950
85^ 300
6 175
50, 590
5 475
45, 100
4 840
43, 000
5 840
65, 950
17,917
42, 265
16. 765
29, 677
14, 625
24, 327
13, 343
34, 566
14, 558
54, 691
16 785
108, 457
18 946
150 703
21 385
161 821
9 900
70, 650
23 602
167 576
22 306
153' 634
20 210
135 012
17 nnn
124 344
127 576
4,932
2,508
3,663
1,639
3, 494
7,908
5,371
4,305
2,499
4,415
2 842
9,839
5 118
2,303
3 453
3, 567
2 921
5,824
2 599
2,515
3 186
3,365
4, 196
.151
.152
.156
.159
.163
.163
.163
.165
.165
.167
.166
.166
8,975
8,412
10, 962
10, 116
9,266
11 190
8,634
8, 159
11 126
589
DAIRY PRODUCTS
Butter, creamery:
Production (factory)J
thous. of Ib
Stocks, cold storage, end of month
do
Price, wholesale, 92-score (New York)_dol. perlb..
Cheese:
Production (factory), totalj.
thous. of Ib
American, whole milkj
. do._Stocks, cold storage, end of month, total. . do
American, whole milk .
. _. do
Imports
do
Price, wholesale, American, single daisies (Chicago)
_
dol. per Ib
Condensed and evaporated milk:
Production:!
Condensed (sweetened):
Bulk goods
thous oflb
Case goodsO
do
Evaporated (unsweetened), case goods do
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened)
thous. of lb_
Evaporated (unsweetened)
do
Exports:
Condensed (sweetened)
do.
Evaporated (unsweetened") _
do
Prices, wholesale, U. S. average:
Condensed (sweetened) .
dol. per case
Evaporated (unsweetened)
do
Fluid milk:
Production J
_
_ mil. oflb
Utilization in mfd. dairv products. _
do__.
Price, dealers', standard grade
dol. per 100 lb__
Dry milk:
Production: J
Drv whole milk
thous of Ib
Nonfat dry milk solids (human food)
do
Stocks, manufacturers', end of month:
Dry whole milk
Nonfat dry milk solids (human food).
do
Exports:
Drv whole milk
_
do
Nonfat dry milk solids (human food)
do
Price, wholesale, nonfat dry milk solids (human
food), U S. average
dol. per lb_.
r
95 855
72,418
.678
76 420
83 951
.699
o RQK
84
55
236,
204
840
330
833
224
8 320
382 563
1 ^ 9RQ
_
„_
.164
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu_. 1 110. 660
2 QO 696
T
2,856
2,449
Shipments, carlot
no. of carloads..
2.047
2.008
1,450
935
283
405
289
1,439
5,520
2, 609
2,712
22, 113
16, 014
Stocks, cold storage, end of month.. thous. of bu__
10, 753
5,983
2,894
1,037
282
153
238
6,221
26, 892
* 24, 941
20, 198
11,839
Citrus fruits, carlot shipments
no. of carloads_.
11, 548
10, 472
11, 397
11. 218
12, 605
9,561
9,709
5,994
5,131
5,345
' 6, 417 13, 301
Frozen fruits, stocks, cold storage, end of month
465, 137 471, 101 466, 735
thous. of lb__ 496, 386
475, 636
537, 679
580, 264
593, 518
578, 699
556, 897
532, 993 ' 493, 402 458, 833
Frozen vegetables, stocks, cold storage, end of
month
thous. of lb__ 498, 340
444, 409
398, 699 348, 023
313, 708
301, 739
336, 911 385, 494
463, Oil
530, 091 ' 576, 522 r 569, 974
536, 501
Potatoes, white:
2
Production (crop estimate)!
thous. of bu _ 1 320, 519
347
504
~-~~~~~"
16, 378
Shipments, carlot
no. of carloads
18, 556
22 043
1 fi 47*}
91 A3fi
24 138
13 534
12 825
24 094
12 335
13 037
18, 093
Price, wholesale, U. S. No. 1 (New York)
5.540
6.875
dol. per 100 lb__
6.660
6.025
5. 820
5.570
4.844
6.708
7.025
4.792
6.188
' 5. 481
4.973
r
2
Revised
1 Revised estimate.
December 1 estimate.
cf Figures beginning July 1952 exclude production of wines and vermouth; for July 1951-June 1952, such production totaled 91,000 gallons.
{Revisions for production of dairy products prior to November 1950 are available upon request as follows: Beginning 1949 for butter cheese and nonfat dry milk solids; beginning 1950 for
condensed and evaporated milk and dry whole milk. Revisions for fluid milk (January 1940-February 1951) will be shown later Revised estimates for production of potatoes for 1944-49 are
shown in corresponding note in the September 1952 SURVEY.
©Figures beginning 19.50 represent whole milk only; earlier data cover both whole and skimmed milk.
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1952
1951
December
February 1953
January
February
March
April
June
May
July
August
September
October
November
December
FOODSTUFFS AND TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal
48, 220
thous. of bu_.
Barley:
i 254, 287
Production (crop estimate)! _
do
8,039
Receipts, principal markets
__ do
Stocks, domestic, end of month:
25,
483
Commercial
_
do
r
124, 046
On farms!
do
2,995
Exports including malt
do
Prices, wholesale (Minneapolis) :
1.593
No. 2, malting
dol. per bu__
1.440
No 3, straight
do
Corn:
Production (crop estimate)!
mil of bn
Grindings, wet process
thous. of bu._
Receipts, principal markets
_ __ _
do
Stocks, domestic, end of month:
Commercial
_
do
On farmst
mil of bu
Exports including meal
thous of bu
Prices, wholesale:
No. 3, white (Chicago)
_dol. perbu._
No. 3, yellow (Chicago)
do
Weighted average, 5 markets, all grades. -do
i 2, 899
9,238
34, 498
r
r
1
California:
Receipts, domestic, rough
thous. of Ib
Shipments from mills, milled rice.
do. Stocks, rough and cleaned (cleaned basis), end
of month
thous. of Ib
Southern States (Ark., La., Term., Tex.):
ece pr , r u g , at
, . _ _ _ _ _
Stocks, domestic, rough and cleaned (cleaned
Exports
do
Price, wholesale, head, clean (N. 6.)--dol. per lb._
Rve:
Receipts, principal marketsf
do
Stocks, commercial, domestic, end of month. do
Price, wholesale, No. 2 (Minn.)
dol. per bu._
Wheat:
® duct o (G op esi
op g
^ -
a e;,io i±
Receipts, principal markets
Stocks, end of month:
Canada (Canadian wheat)
"h
c
t
'11
do
uub. °
-
b
Exports total including
^Vheat only
flour
50, 863
52, 905
37, 529
28, 794
35,649
38, 420
44, 716
40,261
9,710
9,481
7,787
7,194
7,909
6,172
10, 110
23, 234
11, 264
8,613
8,294
22, 042
21,005
16, 385
14, 646
17, 899
16, 967
2,305
1,187
880
3,560
5,575
20, 085
132, 890
6,195
18, 989
3,903
14, 798
r2
38, 046
14, 861
930
19, 160
r
77, 962
4,024
4,415
3,829
1.638
1.471
1.549
1.407
1.492
1. 331
1.423
1.308
1.443
1.234
1.530
1.316
1.612
1.430
1.709
1.648
1.626
1.480
1.631
1.545
1.598
1.505
1.612
1.457
10, 858
44, 823
10, 002
32, 248
10, 486
27, 248
10, 745
18, 316
10, 487
17 358
20, 041
14, 293
9,557
10, 194
18, 206
11, 006
21, 567
12, 095
48, 645
10, 769
56, 549
2 3, 307
9, 965
33, 489
63, 778
32, 526
599. 7
18, 186
' 31, 204
60, 880
7,237
62, 039
2, 173. 2
16, 005
r
' 40, 813
4, 521
61,849
<• 1,052.7
10, 437
50, 173
8,197
7,532
6,859
(4)
1. 926
1.699
(4)
1.913
1.597
1.998
1.802
1.587
(4)
1. 847
1. 637
1.868
1.818
1.731
(4)
6,420
5,826
6,805
6,602
21, 186
17, 065
503
.912
11,785
519, 236
778
.931
9,057
208
.992
215
.887
120, 540
80, 214
131, 132
129, 926
120, 622
73, 485
50, 534
65, 063
r
do
do
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
dol. per bu__
No. 2, hard winter (Kansas City)
do
No 2, red winter (St. Louis)
_
do__ _
Weighted avg., 6 markets, all grades
do
r
9,964
20, 772
17, 167
4,237
3,314
2,854
1.842
1.756
1.900
1.830
1.763
(4)
(4)
11,715
9,130
21, 604
22, 030
11,966
16, 038
3 245, 772
r
1.808
1.735
r
3171.4
5,275
r
(4)
1.808
1.764
1.760
1.716
r
89, 767
76, 982
99, 177
1.575
1.569
1. 630
1. 597
(4)
5,573
4,735
2 1 , 268
13, 979
30, 140
26, 546
312
278
24, 101
30, 814
378
328
.829
' 1,006,932
223
.908
.833
319
.865
.920
.907
.904
65, 414
35, 882
74, 247
33, 526
28, 695
36, 124
23, 302
41, 993
12, 593
3,298
177, 837
61, 546
154, 481
66, 808
110, 166
93, 444
7,276
12, 153
65, 882
107, 170
90,015
51, 859
.105
101, 657
.104
199, 214
.105
149, 231
.106
.107
1,770
3,210
1.951
3,285
302
2 15,910
2,470
2,892
1.978
1.920
588
34, 204
25, 041
791,661
.919
2
77, 352
76, 825
42, 642
54, 187
25, 175
32, 838
48, 200
30, 032
199 749
177,402
209 432
158, 633
125, 522
125, 513
129,682
181,874
187, 253
217,515
134 497
277 223
91, 122
211,604
11, 757
108, 570
676, 066
87, 408
.096
642, 963
89, 502
.100
598, 059
193, 280
.105
511,299
104, 199
. 105
442, 860
129, 517
.105
285, 248
259, 380
.105
153, 772
61,979
141,312
.105
.105
i 21,301
1,267
6, 344
2.051
741
6,136
2.036
636
5,844
1.915
864
5,321
2.027
480
2,825
1.945
1.163
1, 995
1.928
547
1,278
2,449
218,333
852, 971
199, 890
7,659
13,415
(4)
1.586
1.571
10, 705
2 227, 008
(4)
101,771
1
1
1
.
Commercial
do
Interior mills, elevators, and warehouses
TV/T
68, 928
58, 785
980 8
334 5
646. 3
32, 396
thous. of b u _ r 279 453
-
54, 902
51, 954
1, 892. 2
10, 165
Oats:
1
1,321
Production (crop estimate) t
mil of bu
9,450
Receipts, principal markets
thous. of bu._
Stocks, domestic, end of month:
26, 931
Commercial
_ _ do_ _ _
' 845, 476
On farms!
do
254
Exports including oatmeal
do
1.045
Price,wholesale,No.3,white(Chicago).dol.perbU-.
Rice:
54, 239
:
202, 169
517, 914
124, 865
202, 564
208, 850
144. 640
216, 427
213. 163
163, 161
r
r
202 001
113 567
334, 518
34, 807
29, 383
44, 900
41, 297
46, 780
42, 139
112 357
80, 760
197, 895
53, 349
49, 049
2. 568
2.541
2.625
2.488
2.546
2.519
2.555
2.471
2.505
2.492
2.547
2.422
2.540
2.496
2.492
2.436
r
1.861
328
2,905
1.914
2,698
2
23, 598
r
815
2 1,291.4
22, 191
29, 072
2.038
1,568
1.972
:.
% 341
341 104
26, 284
121,058
101, 851
88, 954
T
87, 348
269 976
r
195, 182
3 255, 594
3 93, 924
2 57, 879
s 39, 568
3 63, 079
39, 759
36, 154
41, 733
38, 565
31,812
2.503
2.492
2.440
2.485
2.446
(4)
2.405
2.505
2.306
2.414
108, 133
27, 602
2.104
2.350
149, 329
59, 153
43, 666
211 559
23, 804
21, 383
' 224, 407
1, 344, 121
313, 561
242, 463
* 237, 465
308, 618
293, 878
276, 075
21,417
17, 232
26, 831
23, 385
»• 365 177
r 150, 243
r 510, 819
26, 716
22, 305
2.547
2.447
2.323
189, 545
279, 426
2.251
2.154
2.314
r
190, 469
2.211
2.413
r
2.470
2.409
2.288
2.474
2 238. 6
1,052.8
23, 372
248, 742
251,212
1, 102, 932
259, 257
311,409
128, 199
399, 412
32, 693
29, 081
2.504
2.416
2.329
2.519
20, 149
16, 146
2.541
2.458
2.306
2.567
2.533
2. 445
2.329
2. 568
Wheat flour:
Production:
19, 714
19,099
18, 671
18, 990
18,065
19, 177
18, 101
18, 519
21, 081
17, 920
17, 599
21,212
18, 386
Flour
thous. of sacks (100 lb.)_78.2
79.3
84.7
77.5
88.9
79.1
82.3
73.6
82.7
76.5
75.3
86.4
82.0
Operations perc6nt of capacity
362, 804
386, 219
380, 000
396, 826
387, 693
352. 881
367, 535
364, 216
376, 243
424, 466 r 377, 270
429, 296
Offal
'_
.short tons__ 375, 647
44, 698
44, 107
45, 901
44, 530
43, 458
42, 234
42, 217
43,337
49, 088
41,096
42, 025
49, 683
43,333
Grindings of wheat
- thous. of bu_.
Stocks held by mills, end of month
4,152
4,834
4,360
5,033
4,701
thous of sacks (100 Ib )
1,893
1,796
1,479
1,551
1,718
1,807
1,547
1,992
1,360
1,845
2.328
' 1, 545
Exports
do
Prices, wholesale:
Spring, short patents (Minneapolis)*
5.824
' 5. 635
5.390
5.505
' 5. 830
5.630
5.590
5.675
5.720
5.585
5.865
6.044
5.935
dol. per sack (100 Ib.)
«• 5. 625
5.225
5.528
' 5. 500
5.325
5.225
5.600
5.375
5.500
5.650
5.575
5.600
5.710
Winter, hard, short patents (Kansas City )*__ do _ _
r
2
Revised.
1 Revised estimate.
December 1 estimate.
3 Old crop only; new grain not reported until beginning of new crop year (July for barley, oats, and wheat; October for corn).
< No quotation.
JThe indicated grain series have been revised as follows: Production—barley, corn, oats, 1944-49; rye, wheat, 1945-49; rice, 1949; stocks on farms—barley, corn, oats, 1944-49; wheat, 1945-49;
domestic disappearance of wheat and total United States stocks of domestic wheat, 1945-49. All revisions will be shown later.
fRevised series Data are furnished by the Chicago Board of Trade and represent receipts at 12 interior primary markets; for names of markets and data for January 1948-July 1950, see
note marked "t" on p. S-28 of the October 1951 SURVEY.
, . . , . , , , . « . u i~«
, * i_
cf The total includes wheat owned by the Commodity Credit Corporation and stored off farms in its own steel and wooden bins; sucn data are not included in tne breakdown of stocks.
*New series. Data prior to February 1951 will be shown later.
SURVEY OF CURRENT BUSINESS
February 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1952
1951
December
S-29
January
February
March
April
May
June
July
August
September
October
November
December
FOODSTUFFS AND TOBACCO—Continued
LIVESTOCK
Cattle and calves:
Slaughter (Federally inspected) :
Calves
thous. of animals
Cattle
.do
Receipts, principal markets
..do .._
Shipments, feeder, to 8 corn-belt States
do
Prices, wholesale:
Beef steers (Chicago)
_ . dol. per 100 Ib
Steers, stock er and feeder (Kansas City). -do
Calves, vealers (Chicago)
_ do Hogs:
Slaughter (Federally inspected)
thous. of animals. .
Receipts, principal markets
_ do
Prices:
Wholesale, average, all grades (Chicago)
dol. per 100 lbHog-corn ratio
bu. of corn equal in value to 100 Ib. of live hog- Sheep and lambs:
Slaughter (Federally inspected)
thous. of animals. .
Receipts, principal markets
do
Shipments, feeder, to 8 corn-belt States
.do ..Prices, wholesale:
Lambs, average (Chicago) _. dol. per 1001b._
Lambs, feeder, good and choice (Omaha)-.do
344
998
382
1,096
1,648
133
343
985
1,481
158
397
927
1,473
143
405
938
1,581
128
388
1,009
1,593
155
392
966
1,584
152
430
1,100
1,898
185
426
1,135
2,078
338
496
1,215
2,641
563
602
1 390
3,101
1 088
510
1 151
2,379
667
523
1,252
2,023
250
30.45
36.00
34.25
31.19
36.50
33.78
32.06
37.00
33.41
31.99
38.50
33.39
31.32
37.00
33.29
32.06
36.75
32.22
27.21
34.50
32.53
25.24
32.00
32.52
25.17
32.00
32.19
23.57
31.50
32 09
22.76
33.00
31 37
22.31
33 00
28.77
20.50
29.02
6,912
4,174
6,835
4,373
5,779
3,626
5,776
3,561
5,281
3,163
4,482
2,800
4,259
2,771
3,641
2,268
3,592
2,203
4,290
2,540
5,492
3 099
5,772
3,326
7,251
4,233
17.74
19.11
1,533
200
34.59
17.42
17.07
16.56
16.58
19.61
19.25
19.96
19.98
18.55
16.76
16.52
!0.5
10.4
10.4
10.1
9.8
11.8
11.2
11.6
12.1
11.2
12.2
11.5
10.7
810
946
119
1,042
1,150
123
990
971
109
971
988
119
941
1,068
131
939
1,070
141
926
1 045
133
908
1 067
176
1,020
1 455
479
1,243
2 119
722
1,427
2 228
788
1,069
1 289
319
1,218
1,267
203
30.75
30.50
30.25
(')
28.00
0)
26.88
0)
28.88
0)
28.12
0
28.38
0)
28.38
24.25
28.62
24.63
25 50
23.10
23.88
21.25
22.62
20.50
21.62
19.18
1,557
1,320
65
1,476
1,201
62
1,444
1 161
44
1,418
983
49
1,395
825
50
1,527
696
37
1,819
636
55
1,742
r
779
59
2,127
1,076
566, 992
252 350
892
610, 297
224 432
1,636
582, 712
201 504
1,531
659, 036
171 444
1,666
669, 445
167, 437
1,240
713, 624
184, 158
1,150
801, 489
214 594
1,365
662, 271
252 306
1,153
735, 078
301, 001
r
MEATS
Total meats (including lard):
1,715
1,977
1,866
Production (inspected slaughter).
mil. of lb._
1,656
1,264
966
1,313
1,146
Stocks, cold storage, end of month
do
108
94
115
113
Exports
do
Beef and veal:
693, 420
656, 307
557, 237
Production (inspected slaughter)
thous. of lb_. 585, 399
234, 679
267, 437
265, 700
Stocks, cold storage, end of month
do
256, 247
850
660
1,006
Exports
do -.
1,116
Price, wholesale, beef, fresh, steer carcasses, choice
.579
.562
.571
.560
(600-700 Ibs ) (New York)
dol. per Ib
Lamb and mutton:
37, 915
50, 536
Production (inspected slaughter)
thous. of Ib.48, 201
48, 986
Stocks, cold storage, end of month
do. .
13, 840
13, 720
13, 532
14, 896
'Pork, including lard, production
(inspected
slaughter)
... .
_. thous. of Ib - 1, 242. 339 1, 269, 791 1, 072, 252 1, 050. 706
Pork, excluding lard:
905, 863
771, 472
931,607
759, 957
Production (inspected slaughter)
do
704, 992
548, 604
822, 006
793, 870
Stocks cold storage, end of month _
do
10
337
11,257
7
675
8 512
Exports
do
Prices, wholesale:
.544
.527
.546
Hams smoked composite
dol. per Ib
.526
.427
.423
.433
Fresh loins, 8-12 Ib. average (New York) ..do
.448
Lard:
220, 934
248, 037
Production (inspected slaughter)
thous. of lb_- 246, 363
213, 346
53, 614
49, 284
70, 803
53,816
Stocks cold storage end of month
_ do
88, 194
96, 445
100, 339
79, 627
Exports
.do .
.190
.175
Price, wholesale, refined (Chicago) ___dol. per lb_.153
.175
r
564
559
540
534
559
562
556
545
514
45, 703
13, 067
45, 306
16, 141
41, 392
14 902
38, 601
11 814
43, 880
11,318
52, 839
12, 553
61, 726
16,002
47, 505
17 580
56, 616
22, 631
r
944, 623
820, 518
819, 934
720, 191
681, 587
760, 409
955 425 1,031,841 1,335,205
682 678
823, 741
7 997
594 319
727 665
8 655
601 250
685 033
9 285
525 855
542 707
10 833
506 990
407, 558
5 892
571 228
290, 931
5 673
715 279
234 894
5 768
.531
.430
531
.550
569
.535
585
.552
616
.612
571
.569
191,803
88 821
51, 552
.145
165, 818
105 749
46, 395
.145
160. 274
132 041
29 038
.145
141,823
132 583
32 421
.140
127, 696
124 296
37, 288
.138
765 850
319 643
7 386
984 200
508 091
569
.515
552
.449
558
.402
138, 047
109 157
26, 611
.143
175, 664
78 992
43 043
.143
194, 381
r 85 925
46 638
.133
256, 269
117 682
74, 618
294, 424
.250
70, 745
287, 073
.262
r
.113
POULTRY AND EGGS
Poultry:
Receipts, 5 markets . .
thous. of lb. . 76, 887
302, 151
Stocks, cold storage, end of month
do
.284
Price, wholesale, live fowls (Chicago) §_dol. per lb_ .
Eggs:
Production , farm
millions. .
4,793
429
Dried egg production
... _
thous. of lb.
Stocks, cold storage, end of month:
141
Shell
. . thous. of cases.
67, 200
Frozen
thous of lb
Price, wholesale, extras, large (Chicago)
.496
dol. per doz_.
35, 651
300, 000
.275
35, 067
270, 397
.295
42, 273
232, 832
.295
41,462
194, 965
.258
58, 058
185, 688
.225
52, 212
174, 040
.218
47, 806
157,045
.215
52,536
144, 508
.235
64, 955
182, 786
.245
81, 748
279,191
.225
5, 409
894
5,716
1,681
6,441
2,325
6,191
2,220
5,983
2,037
5,032
1,427
4,463
1 571
4,155
1,140
4,108
1,069
4,402
758
4,510
957
5,063
685
238
53, 055
942
60, 576
1,596
84 295
2,184
111 185
3,184
145 863
3,357
166 419
2,728
163 359
2,169
144 326
1,709
123 661
1,000
95 333
r
393
r 72 402
156
50 497
.398
.364
.382
.396
.359
.404
.525
.553
.553
.631
.560
.489
r
MISCELLANEOUS FOOD PRODUCTS
89, 249
Confectionery, manufacturers' sales*.. ..thous. of dol. . 93, 000
78, 125
74, 423
84, 067
60, 318
54, 335
99, 443
47, 200
113, 374
101,012
101, 394
60, 948
Cocoa:
Imports
_ _ _ . .
... _
long tons. . 16, 747
32, 672
30, 307
27, 023
24, 020
28, 764
12, 977
28, 764
8,705
9,043
4 210
13
272
r
.326
.381
Price, wholesale, Accra (New York).. dol. per lb_.
.384
.384
.358
.331
.378
.381
.333
.354
'.340
.308
.318
Coffee:
Clearances from Brazil, total
thous. of bags..
1,609
1,521
1,015
1,604
1,331
1,024
953
1,177
1,455
1,601
1,456
1, 450
1,453
945
To United States
do
758
899
871
624
626
566
719
924
1 045
893
846
817
689
Visible supply, United States}:
do
658
850
955
966
579
691
756
889
605
529
691
611
Imports
_
do
2,048
2,042
1,707
1,126
1,227
1 408
2,280
1,978
1 870
1 454
1 615
1 394
Price, wholesale, Santos, No. 4 (New York)
.541
.535
.550
.550
dol. per lb-_
.548
.545
.530
.533
.548
.545
.535
.540
.538
Fish:
25, 946
23, 139
Landings, fresh fish, Sports
. thous. of lb_.
29, 224
37, 963
51, 478
58, 606
76 851
64 754
72 504
54 114
31 529
49 126
168, 792
125. 704
148. 113
Stocks. cold storage, end of month
do
190. 493
200. 944 r 21 0.658
1 92. 81 7
183. 826
176. 254
152. 396
113. 544
123. 762
113. 996
f
J
Revised.
No quotation.
§Series revised to represent quotations for heavy type.
*New series. Compiled by the U. S. Department of Commerce, Bureau of the Census, representing estimated total sales by manufacturers of confectionery and competitive chocolate products. The figures exclude sales of chocolate coatings and cocoa produced by chocolate manufacturers and sales by manufacturer-retailers with a single business location. Revised data for
January 1949-June 1951 are shown in corresponding note in the September 1952 SURVEY.
JFor revised data for July 1949-October 1950, see note marked "J" on p. S-29 of the January 1952 SURVEY.
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
February 1953
1952
1951
December
January
February
March
April
May
June
July
August
September
October
November
December
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS—Con.
Sugar:
Cuban stocks, raw, end of month
thous. of Spanish
United States:
Deliveries and supply (raw basis) :
Production and receiptsProduction
-_ short
Entries from off-shore
Hawaii and Puerto Rico
427
718
1,883
3,033
4,033
4,423
4,388
3,970
3,645
3,320
2,895
2,620
2,170
472,810
164, 866
155, 925
84, 442
364, 959
72, 083
32, 439
293, 390
40, 217
24, 680
692, 525
221, 145
29, 006
596, 991
180, 047
18, 150
673, 682
200, 747
46, 465
503, 896
142, 458
34, 190
617, 564
167,422
9.971
573, 936
177, 671
91, 126
725 621
237, 299
602, 545
387 590
273, 166
732 540
226 961
108, 362
388, 838
194 724
123, 853
'541,391
Deliveries, total
do
r
521 268
For domestic consumption
do
For export
do __ r 20, 123
Stocks, raw and refined, end of month
thous. of short tons__
' 1.751
18, 264
Exports, refined sugar
- short tons, Imports:
75, 340
Raw sugar total
do
74 217
From Cuba
do
1,120
From Philippine Islands.
-_ do
581,376
578, 699
2,677
544, 553
542, 900
1, 653
862, 480
860, 405
2,075
612, 641
608, 995
3, 646
596, 990
595, 062
1,928
896, 355
894, 103
2,252
758, 308
755,061
3,247
734, 684
731, 376
3,308
744, 355
742, 146
2,209
680, 035
677 919
2,116
519,868
518
373
T
1 495
596, 070
593 793
2 277
1,613
867
1,473
1, 122
1,241
11,522
1,283
25, 423
1,400
31, 620
1,114
28, 369
917
6,116
831
2,525
697
649
1,045
12, 376
1,518
562
1,602
246, 416
223 704
22, 708
275, 173
232 234
42,938
398, 577
307, 151
91, 394
344, 860
281, 355
62, 886
436, 800
310 072
120, 728
358 007
198 421
159, 587
356, 970
208 611
148, 359
345, 357
245 485
82, 308
305 205
240 343
63, 861
124 473
96 836
17, 875
120 331
102 °13
9,599
1
0
10, 221
10, 220
22, 073
21,873
27, 245
26, 895
52, 053
51, 403
31,464
30, 664
36, 198
35, 524
38, 106
33, 287
43, 038
41, 012
46, 738
43, 590
40, 675
35,160
2,618
0
dol per Ib
.058
.058
.059
.063
. 062
. 062
. 066
.066
.064
.065
.066
.064
.060
dol per 5 Ib _
dolperlb-.
thous. of Ib
.482
.081
6, 713
.483
.081
7,769
.480
.080
6,659
.476
.080
9,855
.489
.085
8,798
.492
.085
7,132
.492
.085
7,044
.494
.086
8,482
.494
.086
8,094
.495
.086
9, 506
.495
.086
7,430
. 495
. 086
5, 530
.494
.085
Refined sugar, total
From Cuba
Prices (New York) :
Raw, wholesale
__
Refined:
Retail
Wholesale
Tea imports
_
_-
._
tons...
tons.
do
do
do
do
TOBACCO
Leaf:
Production (crop estimate) t
mil.oflb Stocks, dealers' and manufacturers', end of quarter total
mil of Ib
Domestic:
Cigar leaf
do
Air-cured, fire-cured, flue-cured, and miscellaneous domestic
mil of Ib
Foreign grown:
Ci^arleaf
do
Cigarette tobacco
do
Exports including scrap and stems . thous. of lbImports including scrap and stems
do
1
T
r
2 2. 207
2, 331
4,245
4,271
3,828
3 951
350
402
387
362
3, 732
3, 648
3,244
3 410
18
170
60, 623
5,734
Manufactured products:
14, 958
Production manufactured tobacco total do
5,739
Chewing plug and twist
do
6,018
Smoking
_. _ _ - -do
3,201
Snuff
do
Consumption (withdrawals):
Cigarettes (small):
3, 508
Tax-free
..
- millions. . ;
Tax-paid
_ . do .. -j 23, 847
367, 906
Cigars (large) tax-paid
thousands
Manufactured tobacco and snuff, tax-paid
14, 353
thous. o f l b - _
1, 443
Exports, cigarettes - _ . .
-.millions-. i
Price, whosesale, cigarettes, manufacturer to
wholesaler and jobber, f. o. b. destination*
3. 555
dol. per thous~- I
33, 836
8,572
29, 752
8,862
19
176
25, 891
7,466
18, 126
7,685
27, 078
8,978
19
179
27, 497
7,987
26, 087
8,966
34, 730
9,619
18
161
50, 451
9,173
41, 777
9, 584
43, 055
9 226
19, 884
7,516
8,619
3,749
18, 553
7, 253
7,826
3,473
17, 912
6,705
7,729
3,478
18, 048
6,898
7,852
3,298
18, 892
7,328
8,456
3,109
18, 444
7,324
7,995
3,126
16, 319
6,827
7,230
2,263
18, 554
7,011
8, 373
3, 170 '
20, 051
7, 366
9, 406
3, 279
21,342
7,936
9,781
3,625
16 P3
6 378
6,843
2 903
4,141
33, 133
494, 556
2,974
29, 308
446, 560
3,107
29, 878
478, 101
2,889
31, 774
491, 964
3,348
32, 920
496, 512
2,365
34, 511
496, 450
2,833
33, 837
504, 045
4,325
34, 950
526, 696
4,294
37, 372
624, 867
3, 408
30, 386
497, 950
2,859
30, 066
438 744
19, 450
1,517
18, 490
1,215
16, 759
1,566
18, 076
941
18, 331
1,492
18, 443
1,043
15, 744
1,329
18, 787
1,810 i
19, 287
1, 266
21,392
1,304
15, 357
1,244
14, 984
3. 555
3.555
3.555
3.555
3.555
3.555
3.555
3.555 ;
3. 555
3.555
3.555
3. 355
4, 366
35, 972
485, 006
LEATHER AND PRODUCTS
HIDES AND SKINS
Imports, total hides and skins %
thous. of lb-_
Calf and kip skins
thous of pieces
Cattle hides J
do
Goatskins t
do
Sheep and iamb skins
do
Prices, wholesale (Chicago):
Calfskins, packer, heavy, 9^/15 Ibs.* dol. per lb_
Hides, steer, heavy, native, over 53 Ibs.*. --do
11, 426
110
116
1,864
1,133
12, 972
81
186
2,367
668
10, 717
26
109
1,613
880
10, 388
27
74
1,770
1,998
16, 447
169
128
1,812
3,228
12, 771
127
239
2,015
1,565
19, 148
164
133
2,419
4,224
19, 460
211
232
3,416
1,903
16, 003
209
75
2,648
2,520
11,963
194
90
2,804
1,100
13, 759
97
45
2,796
2,059
9 134
142
.379
.188
.400
.140
.375
.133
.325
.128
.275
.103
.388
.143
.388
.148
.425
.155
.450
.175
.475
.160
.488
.160
. 513
.170
l
21 :
2 381
720
. 488
.165
LEATHER
Production:
732
685
805
792
703
769
717
914
601
967
* 1,046
Calf and kip _
_ . .. __ thous. of skins ...
847 '...
1,862
1,753
1,782
1,880
1, 827
1,610
1,880
1,555
1,879
2,224
1,910
Cattle hide
thous. of hides
1 959
2,417
2,614
2,513
2, 430
2,440
2,337
2,595
2, 066
2,293
2,338
' 2, 939
Goat and kid -._
thous. of skins _ .
2,577 . .
2,279
2,291
2,047
2,081
2, 102
2,315
1,911
1,881
2, 555
2,718
Sheep and lamb
do
2 441
2,953
Exports:
Sole leather:
27
60
16
25
17
8
10
56
39
25
Bends backs and sides
thous. of Ib
75
24
113
76
49
35
82
43
20
73
45
51
92
Offal, including belting offal .
do
13
2,482
2,321
1,549
1,925
2,587
2,436
2,134
2,270
3,125
Upper leather
thous of sq. ft
2,798
2 512
2,288
Prices, wholesale:
.705
3.740
.710
.670
.705
.760
.670
.780
.695
'.685
.705
Sole, bends, light, f. o. b. tannery*. __dol. per l b _ _
.710
.690
Upper, chrome calf, B and C grades, f. o. b. tan.842
3.842
.835
.805
.787
.848
.873
.808
.928
'.955 !
.987
.890
.938
nery*
dol. per sq. ft..
3
r
2
Spe 3ification c langed; eai-Her data n ot strictly comparabl e.
Revised.
* Revised estimate.
Decembei * 1 estimate?.
t Revisions for tobacco (1944-49) are shown in no ue marked '§" in the September 1952 SUEV EY; those f or the indicated serie s for hides and skins 1950) in n ote marke I "r in the October
1951 issue.
*New series. Compiled by U. S. Department of Labor, Pw'eau of Lab or Statistics ; data prior to Augus t 1951 for sole leather and prior to Februar y 1951 for iipper will 1DC shown later.
SURVEY OF CURRENT BUSINESS
February 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-31
1952
1951
Decem-
ber
January
Febru-
ary
March
April
May
June
July
August
Septem-
ber
October
Novem-
ber
Decem-
ber
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers:t
Production, total
thous. of pairs
Shoes, sandals, and play shoes, except athletic,
total
thous. of pairs
By types of uppers :&
All leather
do
Fart leather and nonleather
do
By kinds:
Men's
do
Youths' and boys'. _
__
do. .
Women's
do
Misses' and children's
do _
Infants' and babies'
do
Slippers for housewear
_
do...
Athletic
do
Other footwear
_ _ do_
Exports§
do
Prices, wholesale, f. o. b. factory:*
Men's and boys' oxfords, dress, cattle hide
upper, Goodyear welt
dol. per pair..
Women's oxfords (nurses'), side upper, Goodyear welt
dol. per pair..
Women's and misses' pumps suede split do
32, 227
41,306
42, 518
43, 967
43, 082
41, 436
39, 747
38, 520
46, 552
44, 100
46, 341
28, 794
38, 290
39, 133
40, 142
38, 879
37, 248
35, 408
33, 946
40, 703
37, 842
39, 185
32, 659
25,511
3,283
33, 694
4,596
34, 081
5,052
34, 408
5,734
32, 658
6,221
31, 536
5,712
30, 735
4,673
29, 938
4,008
36, 385
4,318
33, 906
3.936
35, 057
4,128
29, 080
3 579
7,023
1,068
13, 740
4, 356
2,607
3,032
176
225
302
8,577
1.263
19, 676
5,623
3, 151
2, 511
216
289
219
8,541
1,371
20, 365
5,667
3,189
2,851
233
301
321
8,531
1,374
21, 191
5, 785
3, 261
3,277
223
325
400
8, 613
1,369
20, 363
5,292
3,242
3,647
216
340
386
8,462
1,492
18,973
5, 168
3,153
3,626
209
353
352
8,279
1,586
17,926
4,728
2,889
3,816
181
342
280
7,256
1,485
18, 385
4,393
2,427
4,070
169
335
246
8,986
1,949
21,910
5,135
2, 723
5,249
234
366
331
8,775
1,826
19,419
5,040
2,782
5,638
264
356
386
9,339
1,709
19,446
5,553
3 138
6,442
286
428
433
7, 866
1,442
15, 580
4, 882
2 889
5, 668
237
368
346
5. 523
5. 523
5.523
5.523
5.311
5.126
5.126
5.126
5.126
5.126
5.126
' 5. 151
5.212
4.678
3.890
4.678
3.801
4.861
3.767
4.861
4.678
4.646
4.646
3.700
4.479
3.700
4.479
3 700
4.479
3 700
4.479
3 700
r
4.632
3 716
38, 932
4. 529
3 700
LUMBER AND MANUFACTURES
LUMBER— ALL TYPES
80, 437
Exports, total sawmill products
M bd. ft
160, 885
Imports, total sawmill products
do
National Lumber Manufacturers Association:©
2,494
Production, total
mil. bd. ft
558
Hardwoods
_ . _ _ _
do _
1,936
Softwoods.... ._
.
_ _ . _do . _
2,402
Shipments, total
_
do
518
Hardwoods
._
- - _ -do ...
1,884
Softwoods
do
Stocks, gross (mill and concentration yards), end
8,110
of month total
mil bd ft
2,952
Hardwoods
do
5,158
Softwoods
.
doSOFTWOODS
Douglas fir:©
Orders, new
_ _
do.
Orders, unfilled, end of month
do
Production,,
.
do_
Shipments
do
Stocks, gross, mill, end of month
. _ do
Exports, total sawmill products.
M bd. ft...
Sawed timber
_
do_ .
Boards, planks, scantlings, etc .
do
Prices, wholesale:
Dimension, No. 1 common, 2" x 4", R. L.
dol. per M bd. ft..
Flooring, B and better, F. G., 1" x 4", R. L.
dol. per M bd. ft
Southern pine:©
Orders new
mil bd ft
Orders, unfilled, end of month
do
Production
- do
Shipments
do
Stocks, gross (mill and concentration yards), end
of month
mil. bd. ft
Exports total sawmill products
M bd ft
Sawed timber
do
Boards planks scantlings, etc
do
Prices, wholesale, composite:
Boards, No. 2 and better, 1" x 6" x R. L.*
dol. per M bd. ftFlooring, B and better, F. G., 1" x 4" x S/L*
dol. per M bd. ft..
Western pine:©
Orders, new
_ mil. bd. ft
Orders, unfilled, end of month
do
Production ...
.
_ ..
.
_ do _ _
Shipments
- _
doStocks, gross, mill, end of month
do
Price, wholesale, Ponderosa, boards, No. 3 common, 1" x 8"
dol. per M bd. ft_
755
904
717
668
924
43, 652
14, 856
28, 796
i 45, 873
142, 814
94, 248
168, 653
69, 868
203, 316
75, 651
190, 425
68, 990
209, 112
61, 137
221,006
47, 533
183, 140
65, 135
200 342
48, 534
227 340
40, 949
255 581
44, 363
241 379
2,743
567
2,176
2,777
574
2,203
2, 805
626
2,179
2,879
631
2,248
2, 958
670
2,288
2,950
645
2, 305
3,162
612
2, 550
3,217
612
2,605
3,030
604
2,426
2,996
604
2,392
3,158
614
2,544
2,999
558
2, 441
3,196
630
2, 566
3, 030
569
2,461
3 398
705
2, 693
3, 305
656
2,649
3 464
701
2, 763
3,450
685
2,764
3 528
692
2,836
3,496
720
2,776
••3r 030
691
r 2, 339
3,001
708
2,293
2 883
618
2, 265
2,857
630
2,227
8,206
3, 082
5,124
8,127
3, 077
5,050
8,106
3,075
5,031
8,016
3,075
4,941
8,046
3, 075
4, 971
8,204
3,131
5,073
8,343
3,192
5,151
8 436
3,241
5,195
8 451
3,256
5,194
8 509
3 228
5,281
8 477
3 211
5,266
8 481
3, 199
5,282
883
1,030
799
752
971
15,250
9,110
6,140
814
1,001
830
833
968
55, 541
17,657
37, 884
806
961
860
835
993
37, 254
9,292
27, 962
906
904
919
949
903
43, 300
19, 090
24, 210
727
848
746
771
878
32, 496
10, 498
21, 998
775
828
829
784
923
31, 621
7, 121
24, 500
900
990
778
727
948
19, 542
8,886
10, 656
865
921
920
920
948
36, 450
12, 369
24, 081
913
812
961
1,007
902
18, 856
7,268
11, 588
919
758
943
929
945
15,900
7,462
8,438
768
755
795
759
982
14, 100
4,156
9,954
804
820
816
735
1,043
r 86. 310
v 84. 946
81.368
81. 508
82. 467
82. 887
85. 239
84. 840
84. 840
86. 303
86. 436
86. 576
86. 576
128. 209
126. 575
126. 575
125. 432
125. 759
124. 942
122. 868
121. 234
120. 418
120. 418
120. 418
522
310
595
549
748
312
791
746
712
327
707
697
700
318
688
709
744
300
758
762
749
296
780
753
752
334
699
714
756
326
735
764
759
365
705
720
776
372
747
769
802
376
787
798
677
372
670
681
599
295
708
676
1,576
11,665
3,725
7,940
1,621
8,878
1,390
7,488
1,631
11,975
2,595
9,380
1,610
10, 278
2,400
7,878
1,606
10, 276
1,364
8,912
1,633
11,025
5,673
5,352
1,618
8, 150
1,993
6, 157
1,589
6,477
1,928
4,549
1, 574
5 985
1, 351
4,634
1,552
5 317
1,152
4,165
1,541
4 300
1,104
3,196
1,530
6 163
1 776
4 387
1,562
«• 81. 921
p 82. 060
' 122, 051 p 124.504
80. 797
80. 642
80. 196
79. 765
79. 676
79. 662
78. 815
79. 250
80. 260
81. 483
81. 572
155. 061
155. 061
155. 061
155. 061
155. 061
155. 061
155. 406
156. 068
158. 322
158. 358
158. 971
496
716
393
447
1,820
552
684
335
454
1,690
490
472
365
441
1,609
498
465
451
473
1,585
608
602
564
579
1,594
609
501
592
571
1,615
680
548
698
633
1,680
739
610
753
678
1,755
737
656
737
687
1,805
719
675
709
650
1,864
737
657
747
706
1,905
592
613
572
561
1,855
614
628
462
550
1,767
78.74
78.58
79.22
80.39
82.10
82.28
83.51
83.50
83.54
83.23
81.55
'•81. 31
P 82. 62
176,257
195, 384
88, 454
244,011
238, 911
92, 577
253, 003
260, 815
85, 003
269, 857
269, 732
85, 350
282, 864
282, 070
85, 800
231, 160
230, 155
86, 033
269, 066
273, 123
81, 849
224, 756
211, 998
92, 747
281, 488
274, 449
101, 103
292, 489
290, 201
102, 614
235, 439
239, 002
99 507
265, 913
269, 010
95 617
3,150
12, 300
3,750
3, 550
7,575
4,800
13, 050
4,500
3,750
8,250
3, 550
12, 250
4,150
4,250
8,050
158. 971 p 158.971
SOFTWOOD PLYWOOD
Production
thous. of sq. ft., %" equivalent..
Shipments
... do
Stocks, end of month
do
r
r
T
303, 863
303, 237
103 498
r
T
r
HARDWOOD FLOORING
Maple, beech, and birch:
Orders, new
Orders, unfilled, end of month • _
Production
_
_ _ _ __
Shipments
Stocks, mill, end of month
3,600
3,575
3,550
3 450
2,850
4,100
3 800
4 050
3 900
3 650
9 650
11, 700
10, 700
9,700
10, 200
9 650
9,500
9,600
9 600
9 600
4,350
3,900
3,000
4,300
3,650
3,900
4,000
3,400
4,200
3, 200
2 950
3,675
3,800
3,350
3 650
3,650
3 800
4,250
3,550
3 350
9,575
9,475
9,675
9,400
8,900
8,600
10, 200
10, 175
10,000 1
8,650
r
l
Revised.
*> Preliminary.
Data beginning January 1952 have been adjusted to conform to the 1952 revision of the export schedule.
^Revisions for January-October 1950 are available upon request.
cf The figures include a comparatively small number of "other footwear" which is not shown separately from shoes, sandals, etc., in the distribution by types of uppers: there are further
small differences between the sum of the figures and the totals for shoes, sandals, and play shoes, because the latter, and also the distribution by kinds, include small revisions not available by
types of uppers.
§Excludes "special category" items.
*New series. Data are compiled by the U. S. Department of Labor, Bureau of Labor Statistics; monthly data prior to March 1951 (February 1951 for softwoods) will be shown later.
©Revised monthly data for 1948-50 will be shown later.
M bd. ft
_
do
__-do_
do
do
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
February 1953
1952
1951
Decem-
ber
January
Febru-
ary
March
April
May
June
July
August
Septem-
ber
October
Novem-
ber
Decem-
ber
LUMBER AND MANUFACTURES—Continued
HARDWOOD FLOORING— Continued
Oak:
Orders, new
Orders, unfilled, end of month _
Production
Shipments
Stocks mill, end of month
M bd. ft
. _ _ do _.
do
do _ _ . .
do
49, 607
53, 002
64, 181
54, 554
82, 087
77, 919
56, 995
78, 657
73, 926
86, 818
87, 840
67, 795
73, 094
77, 040
82, 872
80, 919
76, 931
75, 660
77. 366
81,168
89, 018
79, 142
82, 922
84, 643
77, 817
84, 306
78, 777
84, 953
84, 671
77, 257
64, 926
69, 938
79, 701
77, 844
77, 096
70, 446
66, 775
79, 941
79, 428
77, 609
75, 162
61, 721
80, 074
81, 531
75, 371
81, 178
61, 132
82, 021
84, 132
73, 260
87, 303
57, 998
91, 034
94, 691
69, 603
63, 707
50, 843
76, 794
74, 393
72, 004
387, 320
19 790 i
177,224 '
11. 707
73 232
56, 093
72 716
67, 982
76 738
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfrs.):
Exports total
short tons
Scrap©
do
Imports total
do
Scrap
do
416, 700
19,115
257, 307
22,013
402, 297
406, 835
16,247
21 , 992
1 82, 090
235, 432
15,169 |
9, 285
502, 778
17,074
148. 562
12,115
483, 074
21, 200
119.661
13, 441
529, 393
29, 928
99, 315
7, 635
339, 759
42, 058
92, 539
2,829
223, 832
54, 735
89, 559
4.805
302, 285
36, 708
111,957
7,601
368, 120
21,991
142,036
8, 024
448,197
39,176
221,304
5,133
Iron and Steel Scrap
Consumption total§
thous of short tons
Home scrap
do
Purchased scrap
do
Stocks consumers', end of month, total§
do
Home scrap
do
Purchased scrap . _ . . _ .
_ _ do . .
Ore
Iron ore:
All districts:
Mine production
thous of long tons
Shipments
_ . _ ... __ do .Stocks at mines end of month
do
Lake Superior district:
Shipments from upper lake ports
do
Consumption bv furnaces... ..
. do ..
Stocks end of month, total
do
At furnaces
.
_ _
do - On Lake Erie docks
do
Imports
do
Manganese ore, imports (manganese content)
thous of long tons
6,141
3, 166
2,975
4,366
1,199
3.168
6,549
3, 426
3,123
4, 356
1,166
3,190
6.241
3, 215
3, 026
4,697
1,153
3, 544
6,611
3, 407
3, 204
5, 072
1,178
3.894
6,004
3, 027
2,977
5, 473
1. 236
4,238
6,014
3,034
2,980
5, 861
1,263
4,598
2,295
985
1,309
6, 245
1,272
4,973
2, 201
906
1, 295
6,590
1,299
5, 291
6,127
3, 060
3, 067
7,027
1,379
5, 648
6,477
3,270
3,207
7,045
1,388
5, 658
7, 007
3,573
3,434
7, C33
1,428
5, 605
0,676
3,444
3 231
0, 930
1,350
5. 586
3, 682
3.132
5, 794
3,704
2,108
7,404
3,605
2, 160
8,849
3,714
2,341
10,236
9,073
8,655
10,629
13, 693
13. 769
10, 551
1,552
3,163
8,940
2,783
1,805
9,906
14, 974
15, 992
8 888
15, 912
16, 301
8 500
14,271
15,588
7,183
9 448
11,531
5 119
791
7,639
43, 711
37,315
6, 396
656
0
7,527
35, 927
30, 369
5. 558
659
0
7,229
29, 207
24, 693
4,514
624
0
8,022
21, 451
18, 082
3, 369
674
6.532
6, 616
19, 592
16, 487
3, 105
687
1 2, 497
6, 932
25, 904
22, 230
3, 675
699
2,487
1, 403
27, 170
22, 611
4,559
860
1,904
1,544
27, 388
22, 904
4,484
726
14, 368
7,243
34, 137
29, 449
4,688
847
14, 389
7,659
41, 532
36, 206
5,326
1,172
13,013
8,048
47, 839
41, 699
6, 140
1,065
9, 295
7,826
51, 208
44, 318
6,890
1,012
65
78
70
73
80
63
47
58
63
64
90
88
427
8,220
45, 172
39. 055
6, 116
Pig Iron and Iron Manufactures
Castings, gray iron:§
Orders unfilled for sale
thous of short tons
Shipments total
do
F o r sale
_ _ _ _ _
do
Castings, malleable iron:§
Orders unfilled for sale
short tons
Shipments total
do
For sale
do
Pig iron:
Production
_ _
_ _ thous. of short tons
Consumption§
do
Stocks (consumers' and suppliers'), end of month §
1 847
1,033
583
1 801
1, 199
694
1 766
1,155
655
1 711
1,172
661
1 614
1, 205
653
1 459
1,101
620
1 446
835
502
1,410
636
432
1 513
1,002
602
1 451
1,119
626
1 392
1,233
684
1 309
1, 001
590
215, 134
76 045
45, 543
202, 799
87, 003
54, 988
193, 061
82, 898
50, 129
196, 896
80, 960
49, 084
198, 215
89, 270
56, 337
180. 382
81.770
51, 476
173, 353
74, 446
46, 511
166, 517
45, 266
29, 675
162,832
63.716
39. 308
168,307
75, 950
45, 849
168, 609
88, 062
52, 922
167, 842
76, 099
46, 708
5,977
5, 916
6,040
6, 106
5, 785
5, 750
6, 300
6,219
5, 225
5,280
5, 492
5, 402
1, 068
1,110
1,003
946
5, 831
5, 671
6,164
0,007
6, 515
6,510
6,227
6, 128
1 751
1 761
1 764
1 789
1 715
1,729
1,669
1,689
1,801
1 804
1, 830
2 303
Prices, wholesale:
Composite
dol. per long ton..
"Basic (furnace)
.
- d o
Foundry, No. 2, f. o. b. Neville Island .-. do
53. 07
52. 00
52. 50
53.67
52.00
52. 50
53. 67
52. 00
52. 50
53. 67
52.00
52. 50
53. 67
52.00
52. 50
53. 80
52.00
52. 50
53.81
52. 00
52. 50
54. 26
52. 00
52. 50
56.31
54.50
55. 00
56. 31
54.50
55. 00
50.31
54. 50
55. 00
56. 31
54. 50
55. 00
165 110
123, 448
32, 733
183 738
139, 488
36, 650
174 626
133, 602
31,317
173. 694
131.997
32. 118
173, 635
132. 129
35, 227
141, 628
114,410
30, 455
119, 036
97, 633
20, 752
150, 232
113, 997
24, 013
158, 392
121, 402
19, 930
165, 155
124, 626
22. 610
148, 259
110,407
22, 287
0, 510
50. 31
v 54. 50
p 55. 00
Steel, Crude and Semimanufactures
Steel castings:
Shipments total
short tons
For sale total
do
Railway specialties
do
Steel forgings:1f
1
Orders unfilled total
do
Shipments for sale total
do
Drop and upset
do
Press and open hammer
do
Steel ingots and steel for castings:
Production
thous of short tons
Percent of capacity!
Prices, wholesale:
Composite, finished steel
dol. per lb_.
Steel billets, rerolling (producing point)
dol. per short ton..
Structural steel (producing point)
dol. per lb__
Steel scrap, heavy melting (Pittsburgh)
dol. per long ton__
175, 075
134, 325 !
33, 549 !
410 646 1 471 620 1 464 255 1 359 752 1 349 288 1
176, 441
168, 286
165, 023
190, 774
187, 487
125, 736 1
109 014
127. 768
129, 761
125, 042
61.013
42. 550 j
56, 009
62, 445
48. 673
8,891
101
9, 404
102
7,991 i
90 1
318 889 1 248 204 1 289 597 U 399,969 1 391 998 1 393 137 1 398 702
178, 475
155, 884
155, 840
135, 398
96, 828 i 120,966 149, 642
130, 515
112,870
114, 271
69, 165
179,535
101, 861
107, 966
47, 960
43, 008
41, 569
33, 537
27, 663
141,431
41, 676
8, 205
89
1,639
18
1,627
18
9,062
102
9, 807
107
9,690
106
9, 136
99
8,657
101
.0471
.0471
.0471
.0471
.0471
.0471
.0471
.0476
.0498
.0498
.0498
. 0498
.0498
56.00
.0400
56.00
.0400
56.00
.0400
56. 00
.0400
56.00
.0400
56.00
.0400
56.00
.0400
56.00
.0400
59.00
.0420
59.00
.0420
59. 00
.0420
59.00
. 0420
" 59. 00
P . 0420
44.00
44.00
44.00
44.00
44.00
44.00
44.00
44.00
44.00
44.00
44.00
44. 00
44.00
7,830
2,176
31
8,126
2,085
66
7,570
1,961
59
7,737
2,008
58
7.484
2,207
51
7,052
2,117
48
6,406
1,655
35
6,502
1,629
25
6,133
1,964
34
5,733
2,188
41
5,396
2,277
36 i
4,884
1,892
28
4,949
2,046
48
8,499
92
9.439
100
Steel, Manufactured Products
Barrels and drums, steel, heavy types:
Orders unfilled, end of month
thousands
Shipments
_ _ _
do
Stocks, end of month
do
'Revised.
*> Preliminary.
* See note marked 'T' for this page.
©Data beginning 1951 have been adjusted in accordance with the revised export schedule to exclude exports of tinplate, circles, strips, etc.
§Data beginning January 1951 are estimated totals derived from a survey of approximately 1,300 establishments by the Bureau of Mines and the Bureau of the Census.
IData beginning August 1952 are estimated industry totals based on reports from producers whose shipments in 1947 accounted for 98 percent of total shipments; unfilled orders are for
commercial forgings only, i. e., exclude forgings for own use. Data for May 1951-July 1952 are as reported by producers whose shipments averaged 50 tons or more per month; unfilled orders
for this period inclrde captive shipments.
JFor 1952, percent of capacity is calculated on annual capacity as of January 1, 1952, of 108,587,670 tons of steel; 1951 data are based on capacity as of January 1,1951, of 104,229,650 tons.
SURVEY OF CURRENT BUSINESS
February 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1951
December
S-33
1952
January
February
March
April
June
May
July
August
September
October
November
December
METALS AND MANUFACTURES—Continued
IKON AND STEEL—Continued
Steel, Manufactured Products—Continued
Cans, metal, shipments (in terms of steel consumed),
total
short tons
Food
__
do .
Nonfood
do
Shipments for sale
. _. do
Commercial closures, production
millions
Crowns, production _ _
thousand gross
Steel products, net shipments:
Total
thous. of short tons
Bars, hot rolled— Carbon and alloy
do
Reinforcing .. . .. do _
Semimanufactures
do
Pipe a n d tubes
._ _ ___ _ _ _ _ _ _ do
Pln<es
do
Rails
_. _
_ _
do
Sheets
do
Strip — Cold rolled
_ _ _ _ _
do
Hot rolled
do
Structural shapes, heavy _ _ _ _ _ - d o
Tin plate and terneplatedo__.
Wire and wire products
_
_ do
235, 107
140, 325
r
r
234, 372
143, 997
90, 375
195, 980
976
22, 717
235,
235, 64
648
144,
144, 43
439
91,20
91, 209
199,
199,44
445
89
896
24, 316
24,31
266, 920
157,279
109, 641
228, 841
962
25, 357
287, 223
173, 414
113, 809
240, 976
1,104
27, 774
277, 629
175, 158
102, 471
239, 311
1,071
30, 241
333, 416
218, 947
114, 469
287, 127
1,010
30, 773
423, 894
293, 370
130, 524
388, 040
998
28, 531
465, 820
348, 906
116, 914
421, 221
1,126
29, 462
460, 155
348, 500
111,655
405, 368
1,146
33, 060
355, 341
240,159
115,182
304, 836
1,229
33, 467
6, 411
748
162
313
777
708
146
1,590
154
180
409
352
441
6,589
797
168
285
811
707
156
1,644
180
186
427
298
477
6,35
6,358
75
757
15
158
26
268
79
795
71
711
13
138
1,53
1,534
15
158
17
171
43
437
35
359
44
448
6,890
801
193
317
872
784
162
1,609
156
170
431
478
465
5,922
693
144
292
718
658
128
1,434
143
143
354
398
422
5,947
740
158
305
723
637
133
1,484
140
156
361
334
403
1,250
123
28
55
182
110
11
321
62
33
36
104
85
1,414
130
35
120
152
107
3
425
59
35
29
125
108
6,312
744
188
306
717
680
121
1,567
127
155
428
479
416
6,542
787
181
352
797
649
148
1,639
156
192
386
412
447
7,156
'846
197
377
861
709
156
1,819
189
207
412
435
497
6,648
828
153
350
783
679
145
1,714
166
194
416
388
443
72, 454
203, 624
76, 934
325, 071
212,
212,48
481
72,37
72, 374
77, 069
311,137
76, 880
209, 286
80, 803
248, 033
77, 476
272, 633
78, 368
318, 763
85, 175
305, 987
76, 882
323, 849
77, 312
374, 602
74, 639
296, 613
.0775
.0775
.077
.0775
.0775
.0775
.0768
.0725
.0708
.0740
.0750
.0750
.0750
175.2
40.9
134. 3
75.5
.383
193.8
44.6
149.1
81.3
.383
191.
191.3
45.
45.0
146.
146.3
78.
78.7
.38
.383
200.1
46.4
153.6
82.9
.383
209.7
49.8
159. 9
85.1
.383
205.5
47.8
157.8
86.5
.383
200.9
45.3
155. 5
87.7
.383
188.8
40.1
148.7
86.1
.402
206.3
46 8
159.6
92.2
.402
165.7
95.8
.402
183.8
107.6
.402
165.6
98.2
.402
78, 939
' 77, 670
* 79, 229 ' 80, 528
' 82, 227 T 73, 923
86, 680
98, 532
119, 577
71, 528
16, 599
36, 021
19, 229
16, 792
83, 192
100, 269
130, 430
60, 836
i 10, 598
49, 580
16, 674
32, 906
80,87
80, 876
95, 979
95,97
104,
104, 79
795
59,74
59, 747
12,84
12, 842
41,94
41, 941
28,36
28, 361
13,58
13, 580
.242
.2420
33, 499
27, 273
r 34, 299
28, 501
''34,
34,33
339' 33, 432 r 34, 496
40,14
41, 251
40, 148
35, 762
36,754
37,274
25, 339
43, 746
40, 390
28, 578
.1900
.1900
.190
.1900
.1900
.1892
.1573
.1526
.1600
.1600
.1600
.1440
.1416
15, 390
42,46
42, 460
81, 496
57, 770
73, 435
67, 611
32, 765
4), 196
47, 440
59, 392
41, 305
1,984
1,99
1,990
4,52
4,524
13,
29
13, 297
3,61
3,617
9,56
9,567
2,022
4,489
18, 242
9,004
9,119
1,989
3,919
26, 172
15, 458
10, 645
1,952
3,751
33, 093
22, 741
9,820
2189
1,789
26, 301
15, 904
10,358
2163
1,933
31, 037
21, 009
9,996
2231
4,553
25 233
16,411
8,140
2,732
4,527
25, 273
15,534
9,361
3,601
5,002
1,47
1,472
59
598
1.215
1. 2150
821
7,752
1. 2150
732
10, 894
1. 2150
934
7,418
1. 2150
3,070
9,951
1. 2150
5,481
6,619
1. 2150
2,378
8,501
1. 2150
1,136
7, 586
1. 2138
94, 782
203, 902
774
16, 903
245, 036
152, 116
'
92, 920
r
207, 193
992
24, 875
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary
short tons
Imports, bauxite _ . _ _ _ ._ long tons
Price, wholesale, scrap castings (N. Y.)
dol. perlb-_
Aluminum fabricated products, shipments,
totaled
mil. of Ib
Castings
do
Wroueht products, total c?
-- do _
Plate, sheet, and strip
do
Brass sheets, wholesale price, mill
dol. per l b _ _
Copper:
Production:
Mine production, recoverable copper
short tons__
Crude (mine or smelter, including custom intake)
short tons
Refined
.__
_.
do
Deliveries, refined, domestic
do
Stocks, refined, end of month
do
Exports, refined and manufactured
do
Imports, total
_.
do _
Unrefined, including scrap
do
Refined
do Price, wholesale, electrolytic (N. Y.)__dol. per I b _ _
Lead:
Ore (lead content) :
Mine production
short tons__
Receipts by smelters, domestic ore
do
Refined (primary refineries) :
Production^,- _ _ __
do.
Shipments (domestic)
do
Stocks, end of month. _ _
do _
Price, wholesale, pig, desilverized (N. Y.)
dol. per lb_.
Imports, total, except mfrs. (lead content)
short tons,.
Tin:
Production, pig
long tons
Consumption, pig
do _ _ .
Stocks, pig, end of month, total§
do
Government§-_
do _
Industrial
do
Imports:
Ore (tin content)
__ ___
_ _ do
Bars, blocks, pigs, etc
do
Price, wholesale, Straits (N. Y.)
dol. perlb__
Zinc:
Mine production of recoverable zinc
short tons__
Slab zinc:
Production
_
do _ _
Shipments, total
do
Domestic
do
Stocks, end of month-..
__ do .
Price, wholesale, prime Western (St. Louis)
dol. per lb__
Imports, total (zinc content)
short tons
For smelting, refining, and export
do
For domestic consumption:
Ore (zinc content)
do
Blocks, pigs, etc,-do _.
.2420
25, 765
1,972
4,397
17,843
6,753
11,018
1,820
1,591
.2420
4,879
14,751
4, 525
10, 125
144
1,005
r
72,
72,69
691
87, 110
94, 563
112, 625
58, 487
15, 303
48, 272
25, 928
22, 344
.2420
44,13
44, 133
41,29
41, 291
31,29
31, 297
89, 479
98, 402
107, 355
61, 223
19, 494
42, 948
23, 354
19, 594
.2420
39, 329
38, 225
41, 820
48, 943
39, 161
41, 040
92, 946
97, 593
105, 860
55, 351
20, 252
37, 172
14, 342
22, 830
.2420
r
33, 824
36, 149
45, 546
28, 591
58, 775
r
' 79, 207
«• 76, 284
' 74, 166 •• 74, 907
80, 392
92, 151
98, 416
70, 856
18, 347
33, 061
26, 338
6,723
.2420
81, 601
96, 049
115,384
73, 657
15,435
65, 847
38, 883
26, 964
.2420
79, 368
95, 366
127, 910
83, 771
14, 604
61,111
21, 355
39, 756
.2420
31, 002
32, 962
' 29, 862 ' 30, 232 ' 30, 386r 33, 523
28, 829
32, 393
32, 919
33, 770
38, 987
39, 563
58, 190
37, 489
51, 534
44, 140
41, 836
45, 499
39, 767
82, 426
98, 930
135, 486
71, 456
20, 945
67,817
25, 605
42, 212
.2420
r
r
42, 791
49, 850
31, 837
84, 824
105, 770
138, 759
59, 760
18,226
59, 910
21,028
38, 882
.2420
51, 521
43, 150
37, 718
4,869
6,883
1.2123
1. 0973
57, 269
»• 59, 323
''58,
58,94948
81,769
83, 205
78, 403
75, 039
26, 703
77,29
77, 296
77,44
77, 448
70,92
70, 928
26,55
26, 551
85, 028
85, 575
79, 897
26, 004
83,011
85, 592
72, 716
23, 423
83, 797
74, 076
63, 701
33, 144
77, 463
47, 265
35, 769
63, 342
76, 930
43, 353
38, 714
96,919
73, 167
78, 435
72, 963
96, 651
76, 019
78, 129
69, 343
94, 541
80, 588
79, 787
71, 659
95, 342
84, 909
73, 694
21, 901
60, 904
r
61, 211
' 62, 663 ' 57, 068 ••50,642
r
49, 482
29, 160
30, 537
49, 806
51, 271
35, 686
14, 266
1. 0300
T
75, 730
' 80, 436
100, 075
125, 338
69, 237
13, 016
59, 230
24, 016
35, 214
.2420
r
' 48, 748
53, 346
2,177
5,860
1. 2127
48, 899
78, 563
' 90, 756
81, 439
83, 149
.1950
6,473
18,711
2,306
.195
.1950
49,22
49, 225
4,99
4,996
.1950
123, 605
6,821
.1950
122, 483
7,993
.1950
104, 640
5,047
.1574
106, 749
2,097
.1500
79, 445
832
.1406
9,470
1,164
.1398
14, 976
1,371
.1330
21,322
2,939
.1250
11, 858
2,555
9,727
7,725
11,741
4,664
38,98
38, 980
5,24
5,249
108, 280
8,504
106, 925
7,565
92, 716
6,877
98, 165
6,487
62, 708
15, 905
4,088
4,218
4,454
9,151
6,105
12, 278
7,027
2,276
33, 552
55, 159
23,087
51, 470
.1950
23, 925
HEATING APPARATUS, EXCEPT
ELECTRIC
Boilers, radiators and convectors, cast iron:
Boilers (round and square):
Shipments
thous. oflb_.
11, 168
11,318
10,21
10, 211
9,161
9,480
13, 346
17, 285
16, 962
29, 455
24,037
Stocks, end of month
_ _ _ do
69, 677
73, 039
77,26
77, 267
81,800
87, 814
79, 487
88,017
90, 225
73, 627
63,833
Radiation:
Shipments
thous. of sq. ft__
2,470
2,784
2,074
2,22
2,226
1,760
2,145
2,915
2,925
4,729
3,974
7.784
Stocks, end of month
do
8.382
8.70
8,702
10, 010
8,893
7,676
8,782
9,665
5,032
6,607
r
l
Revised.
Data beginning 1952 are in accordance with the revised
export schedule and include certain primary forms of copper manufactures formerly
2
exports amounted to about $1.5 million in January-September 1951.
Production by detinners only.
cfSee note in June 1951 SURVEY regarding additional reporting companies beginning February 1951.
§Government stocks represent those available for industrial use; total stocks include small amount not distributed.
4,962
3,814
4,199
3,422
excluded; the value of such
SUEVEY OF CUKKENT BUSINESS
S-34
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1952
1951
December
February
January
February
March
April
May
June
July
August
September
October
November
December
METALS AND MANUFACTURES—Continued
HEATING APPARATUS— Continued
Boilers, range, shipments
number
Oil burners:
Orders, unfilled, end of month
do
Shipments. _
_
__ _ _
do _
Stocks, end of month
do
Stoves and ranges, domestic cooking, excl. electric:
Shipments, total
number. .
Coal and wood
do
Gas (incl. bungalow and combination)
do
Kerosene, gasoline, and fuel oil
do
Stoves, domestic heating, shipments, total.. .do
Coal and wood
do...
Gas
do .
Kerosene, gasoline and fuel oil
..
do
Warrn-air furnaces (forced-air and gravity air-flow),
shipments, total
. ...
... number..
Gas
do
Oil.
do.-_.
Solid fuel
do
Water heaters, nonelectric, shipments. _- - .do. _.
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly:
Blowers fnd fans new orders
thous of dol
Unit heater group new orders
do
Foundry equipment (new), new orders,
net.
. _ 1937-39=100..
Furnaces, industrial, new orders:
Electric
thous. of dol
Fuel-fired (except for hot rolling steel)
do
Machine tools:
New orders
1945-47=100
Shipments ...
.do ...
Mechanical stokers, 3ales:
Classes 1 2 and 3
number
Classes 4 and 5:
Number
Horsepower
_
Pumps, steam, power, centrifugal and rotary, new
orders
thous. of dol. _
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), shipmentsf
thousands
Domestic electrical appliances, sales billed:
Refrigerators, index
1936=100
Vacuum cleaners, standard type
number .
WashersO
do
Radio sets, production*
do _
Television sets (incl. combination), production*
number. .
Insulating materials and related products:
Insulating materials, sales billed, index 1 .1936=100..
Fiber products:
Laminated fiber products, shipments§
thous. of dol. .
Vulcanized fiber:
Consumption of fiber paper
thous. of lb_.
Shipments of vulcanized products
thous. of dol. .
Steel conduit (rigid) and fittings, shipments 9
short tons..
Motors and generators, quarterly:
Now orders index
1936 — 100
Polyphase induction motors, 1-200 hp:d"
New orders
thous of dol
Direct current motors and generators, 1-200 hp:cT
New orders
thous of dol
Billings
do
26, 129
31, 193
28, 245
22, 202
23, 446
22, 850
17, 851
20, 010
21, 197
21 979
20 797
18 859
38, 033
40, 392
76, 136
40, 256
45, 748
77, 518
36, 789
37, 792
80, 775
39, 163
40, 038
81, 408
36, 284
45, 805
80, 183
41, 707
51, 743
74, 183
42, 963
57, 830
72, 468
54, 737
67, 044
61, 577
63, 805
84, 620
50, 593
66 080
104, 098
42 993
57 874
119 370
36 076
42 595
72 854
39 324
168, 232
9,435
150, 930
7,867
184, 275
9,501
166, 669
8,105
187, 505
9,589
166, 687
11, 229
204, 657
8,625
185, 751
10, 281
199, 605
7,475
182, 942
9,188
179, 496
6,267
163, 446
9,783
192, 540
5,702
176, 405
10, 433
170, 146
7,080
154, 907
8,159
198, 604
8,820
180,346
9. 438
221, 468
9 037
200 946
11 485
264, 196
9 905
241 138
13 153
204, 336
7 793
187 370
9 173
184, 563
46, 751
81,611
56, 201
145, 268
22, 761
63, 696
58,811
144, 462
19,318
60, 843
64, 301
154, 434
25, 450
64,120
64, 864
147, 435
25, 381
62, 014
60, 040
172, 303
35, 676
76, 324
60, 303
230, 741
40, 963
120, 878
68, 900
393, 834
79, 027
197, 680
117, 127
515, 356
132,211
236, 849
146, 296
565, 508
158, 564
241 419
165 525
659. 965
179, 921
304, 169
175 875
3^9, 238
118,554
170 365
80 329
55, 718
26, 992
22, 778
5, 948
147, 635
50, 002
24, 306
20, 498
5,198
171, 337
48, 529
24,017
19, 309
5,203
167, 335
51, 277
25, 797
20, 848
4,632
172, 320
50, 933
27, 029
19, 695
4,209
176, 609
58, 732
32, 239
20, 583
5, 910
181, 389
70, 206
36, 627
27, 235
6,344
182,851
78, 266
38, 738
30, 950
8,578
157, 595
105, 410
51, 289
40, 654
13, 467
187, 949
116,300
54 368
46, 419
15 513
202, 432
126, 754
59 071
51, 331
16 352
218, 582
89, 708
44 947
35 227
9 534
195' 385
30, 191
13, 483
30, 828
16, 430
38, 731
11,805
32 959
14 456
230.5
404.5
200.4
310.0
385.1
225.2
353.8
343.9
311.6
365 9
335.8
258 1
343 3
2,100
2,873
2,856
3,379
1,363
2,418
2,100
1,809
2,298
3,613
3,713
3,037
1,552
2,968
2.530
6,703
1,626
5,259
1 412
2,472
2 459
1,520
1 241
2,396
1 634
3,235
376.5
264.7
347.8
266. 6
318.8
279.6
324.3
299.5
293. 5
307.9
284.6
323.0
342.9
330.8
376.3
259. 7
311.1
317.0
302 4
368 3
243.3
357.8
r 205 4
'342 5
p 222 5
v 354 2
1,095
1,327
1,145
966
1,059
1,157
1,725
1,667
2,621
2 978
3,073
r 1 g4g
1 178
115
161
115
131
143
21, 284
43, 931
57, 455
39, 165
136
50, 528
44, 329
171
33, 302
249
47, 981
172
31,079
183
158
37 656
31, 366
r HQ
r 21 191
28 979
5,553
5,517
6,020
5,925
6,354
6,140
7,957
6,299
5,921
5, 258
5,534
4, 130
1,792
1, 639
963
769
850
1,137
1,535
2,526
2,905
2 874
3 112
r 2 168
115
153
153
163
133
128
230, 263
224, 471
868, 100
230, 226
218, 956
632. 455
235, 936
261, 512
759, 453
290, 092
254, 135
975, 892
217, 169
222, 266
847, 946
216, 969
219, 882
748, 344
192
197
206. 939
281, 635
874, 253
148
188,715
209, 901
441, 736
222, 413
259, 280
543, 802
136
122
237, 541
287 91 Q
865' 654
292, 474
335 616
772, 346
152
254, 297
317 914
298 641
924 195 U 325,158
467, 108
404, 933
409, 337
510, 561
322, 878
309, 375
361, 152
198, 921
397, 769
755, 665
724, 117
780, 486
466
548
528
536
545
517
500
470
451
531
599
579
6.833
8,115
7,830
7,796
7,899
7,739
7,558
7,597
6,718
8,223
9,110
8,956
10, 196
4,170
4,836
4, 484
4,216
4, 133
3,640
3,720
2,179
3,038
3,759
4,160
3,658
4. 198
1,232
1,646
1,618
1,565
1,430
1,332
1,296
1,027
1,210
1,380
1, 694
' 1, 463;
23, 871
25, 982
25, 530
27, 328
22, 767
23, 243
13, 881
7,214
17, 021
28,645
21,944
106
1 98(3
i 921, 086
1. 671
26. 365
21,108
463 1
573
517
517
44,189
40 722
42, 455
44, 820
36, 446
40, 443
36 946
35 210
10, 713
6,619
8,793
9,410
13, 614
9,787
9 269
7,905
i
I
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
thous of short tons
Stocks in producers' storage yards, end of month
/
thous. of short tons..
Exports _ _
do
Prices, chestnut:
Retail, composite!
dol. per short ton..
Wholesale, f. o. b. car at minef
... ... do
Bituminous:
Production
thous. of short tons
Industrial consumption and retail deliveries, total
thous. of short tons. .
Industrial consumption, total .. ... ..do. _.
Beehive coke ovens
do
Oven-coke plants
.do
Cement mills
do
Electric-power utilities
do
Railways (class I)
do
Steel and rolling mills
_ _.
do
Other industrial
do
Retail deliveries
do
r
r
4, 158
'3,311
3, 333
' 3, 349
<• 3, 244
2,484
2,663
3,705
4,150
3,354
3,130
982
583
939
534
1,018
391
1,024
391
1, 026
295
1,149
340
1,264
360
1,447
233
1,420
423
1,314
496
1,300
498
1,479
465
1,668
23. 31
14. 513
23.31
14. 513
23.31
14.513
23. 31
14. 513
23.08
13. 394
21.69
13. 456
21.77
13. 631
22.38
13. 869
22.54
14. 119
22.92
14. 219
23.77
14. 681
24. 00
14. 681
24.69
16. 004
44, 000
49, 900
43, 770
41, 075
39, 300
36, 515
31, 460
25, 800
34, 320
46, 890
32, 765
r 41, 040
42, 395
42, 803
34, 660
971
8, 670
758
9, 267
4, 463
758
9,773
8, 143
44, 284
34, 895
998
8,758
740
9,540
4,301
775
9, 783
9, 389
39, 587
31, 757
927
8,171
673
8,434
3,877
743
8,932
7,830
39, 240
32, 170
899
8,807
665
8,510
3,698
677
8,914
7,070
32, 636
28, 422
685
7, 627
608
7,781
3, 321
582
7,818
4,214
30, 758
27, 741
681
7,854
637
7 724
3, 075
562
7,208
3,017
23, 213
20, 235
133
2, 930
582
7, 369
2, 569
208
6,444
2,978
23, 489
20, 270
104
3,293
603
7,597
2,342
229
6,102
3,219
32, 641
27, 429
383
8. 259
681
8,250
2,722
532
6, 602
5, 212
34,512
28, 336
624
8,230
679
8,494
2,852
538
6, 919
6,176
38, 881
31, 945
534
8,633
699
9,582
3,128
623
8,746
6,936
r
41, 278
33, 982
665
8,899
786
10, 388
3,046
698
9, 500
7,296
3,713
' 3, 093
36, 966
' 31, 910
* 556
8,446
725
9,604
3,031
653
8, 895
5, 056
r
l
Revised.
» Preliminary.
Represents 6 weeks' production.
fRevised series. For revised batteries data beginning 1947, see note at bottom of p. S-35 of the July 1952 SURVEY. Retail prices of coal are weighted averages for large cities. Wholesale
prices supersede former quotations on tracks, destination. Revised price data prior to 1951 will be • shown later.
New series. See note marked
©Figures through 1951 are estimated industry totals; thereafter, data cover reporting companies only (representing about 97 percent of total industry).
"*" on p. S-35.
^Beginning May 1952, the index includes varnished tubing and saturated sleeving.
§Data beginning January 1952 cover 14 companies;
ies; September-December
September-December 1951,
cfThe number of companies reporting is as follows: Polyphase indue15 companies.
9 Beginning January 1952, data include sales cf an additional firm; earlier data will be revised later.
tion, 2d half of 1951, 33; beginning 1952, 34; direct current, beginning 1951, 28.
SURVEY OF CURRENT BUSINESS
February 1953
S-35
1951
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
December
January
February
March
April
May
June
July
August
September
October
November
December
PETROLEUM, COAL, AND PRODUCTS—Continued
COA L— Continu ed
Bituminous— Continued
Consumption on vessels (bunker fuel)
thous. of short tons__
Stocks, industrial and retail dealers', end of
month, total
thous. of short tons. .
Industrial, total
do
Oven-coke plants
do
Cement mills, __
do_ _
Electric-power utilities _.
do
Rail ways (class I) __
do _ _ .
Steel and rolling mills
_
do
Other industrial
do _ _
Retail dealers
do
Exports
_
do
Prices:
Retail, composite t
dol. per short ton
Wholesale:
Mine run, f o b car at minef
do
Prepared sizes, f. o. b. car at minet- --do
COKE
Production :
Beehive§
thous. of short tons
Oven (byproduct)
_
__
do
Petroleum coke
do
Stocks, end of month:
Byproduct plants, total
do
At furnace plants
_ do
At merchant plants
do
Petroleum coke
__
_
do
Exports
do
Price, beehive, Connellsville (furnace)
dol. per short ton__
35
19
19
16
76
92
84
79
76
75
77
76
38
76, 636
74, 886
15,270
1,424
33, 398
4,172
1,181
19, 441
1,750
75, 423
73, 792
14, 827
1, 361
32, 692
4, 161
1,213
19,538
1,631
76, 474
74, 967
15,786
1,342
32, 710
4, 237
1,276
19,616
1, 507
77, 293
76, 042
16, 727
1,276
32, 724
4,299
1,322
19,694
1,251
78, 141
76, 810
16, 652
1,245
33. 617
4,254
1,353
19, 689
1,331
79, 496
78, 033
16, 994
1,261
34, 545
4,110
1,336
19, 787
1,463
80, 744
79, 108
16, 446
1,412
35, 802
3,996
1,269
20, 183
1,636
79, 359
77, 698
16, 136
1,456
35, 895
3, 560
1,195
19, 456
1,661
81, 238
79 567
16, 066
1,616
36, 797
3,443
1,158
20, 487
1,671
83, 298
81, 492
15, 728
1,746
37, 722
3,487
1,236
21, 573
1,806
77, 951
76 369
14. 437
1,624
36, 393
3,041
1,156
19, 718
1,582
75, 978
74, 220
13, 645
1,607
36, 195
2,897
1, 085
18, 791
1, 758
76, 745
75 036
14, 430
1,540
35, 891
3,032
1,089
19, 054
1 709
4,478
5, 163
3,982
4, 050
4,248
4,885
4,862
4,003
4,288
3,760
3,010
2,981
16.15
16.16
16.16
16.16
16.16
15.99
16.02
16.13
16.22
16.28
16.54
16.66
16.72
5 697
6. 773
o 697
6. 773
5 697
6.769
5 697
6. 745
5 624
6.349
5 623
6.317
5 629
6.378
5 640
6.487
5 640
6.544
5 655
6.680
6 016
6.951
6 016
' 7. 020
6 016
7.142
'624
'6,132
325
637
6,168
331
589
5,770
310
576
6,204
321
433
5,374
296
426
5, 536
201
112
2, 361
267
71
2,305
306
253
5,787
317
397
5,784
323
333
6,117
314
356
5,961
311
427
6 264
1,738
1,295
443
104
109
1,810
1,421
389
134
112
1,765
1,455
310
142
86
1,832
1,530
302
164
79
1,873
1,459
413
159
89
1,961
1,538
424
158
62
2,557
2,007
550
122
58
3,297
2,479
819
103
53
3 142
2,294
848
98
44
2,838
2,132
706
97
52
2,541
1,957
583
87
41
2, 445
1,920
524
96
62
2 177
1,736
441
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
1,947
191, 650
98
206, 032
2,151
192,712
94
205, 829
1,929
184, 654
95
193, 524
2,101
198, 028
93
205, 825
2,063
192, 882
89
193, 039
2,196
158,310
71
152, 062
2,017
185 917
96
204, 762
2,141
188 868
96
214, 729
1,938
192 798
99
202, 661
1,660
195, 528
98
210, 510
1,794
202 044
96
213, 358
1,777
194 611
98
211, 456
255, 783
62,311
175, 481
17, 991
254, 007
62, 436
173, 471
18,100
255, 900
64, 614
173,315
17, 971
259, 126
63, 612
177, 422
18, 092
270, 679
69, 159
183, 751
17, 769
290, 813
72, 875
197, 001
20, 937
285, 964
71,950
194 525
19, 489
275 951
70, 352
187, 341
18, 258
264
67
178
18
368
497
394
477
264, 723
65, 241
181, 580
17, 902
269 776
66, 084
185 900
17, 792
267 852
63, 777
185 624
18, 450
2,147
11,835
2.570
2,303
16, 043
2.570
2,211
14, 083
2.570
2,939
14, 186
2.570
3,340
17, 495
2.570
1,718
15, 570
2.570
2,388
17, 171
2.570
1,876
17 497
2.570
1,966
18 124
2.570
1,664
18, 306
2.570
1,526
20 065
2.570
1,805
16 788
2.570
44, 693
40, 693
45, 141
41, 483
44, 314
38, 352
43, 402
39, 482
3*9, 353
37, 602
30, 432
30, 336
43 640
36, 827
45 735
38 337
46 933
38 822
45 053
36 887
45 183
37 321
45 310
38 984
PETROLEUM AND PRODUCTS
Crude petroleum:
Wells completed __
_ - _ . _ - . number.
Production
thous. of bbl
Refinery operations _
percent of capacity
Consumption (runs to stills). _ _ ..thous. of bbl__
Stocks, end of month :c?
Gasoline-bearing in U. S., total
do
At refineries
do
At tank farms and in pipelines
do
On leases
_
_.
do_.
Exports __
do
Imports
do
Price (Oklahoma-Kansas) at wells. __dol. per bbl..
Refined petroleum products:
Fuel oil:
Production:
Distillate fuel oil
thous of bbl
Residual fuel oil. .
.__do.._
Domestic demand:
Distillate fuel oil
do
Residual fuel oil
_ _
do
Consumption by type of consumer:
Electric-power plantsj
do
Railways (class I)
do
Vessels (bunker oil)
_
do
Stocks, end of month:
Distillate fuel oil
do. _
Residual fuel oil
do
Exports:
Distillate fuel oil
_
.do
Residual fuel oil
_ _ _ do
Prices, wholesale:
Distillate (New York Harbor, No. 2 fuel)
dol. per gal..
Residual (Okla., No. 6 fuel)
dol. per bbl_.
Kerosene:
Production
thous. of bbl_.
Domestic demand . _ _ . _ _ _
do _
Stocks end of month
do.
Exports
.
- - --- do Price, wholesale, bulk lots (New York Harbor)
dol. per gal__
Lubricants:
Production
_ . thous. of bbl
Domestic demand
do
Stocks, refinery, end of month
do
Exports©
...
. . _ . _ . -do _ _ _
Price, wholesale, bright stock (midcontinent,
f. o. b. Tulsa)
dol. per gal. _
T
Revised.
57, 233
54, 382
63, 185
56, 246
54, 489
49, 796
49, 081
50, 721
33, 921
45, 119
27 867
38, 500
25 815
36 285
23 291
37 027
26 2 1
42' 094
28 836
41 267
r 39 347
T 50 395
47 176
48 304
6,333
3,244
15, 484
6,068
3 032
6,906
4,775
2,767
6,447
5,222
2 851
6,760
4,204
2 500
6,317
3,717
2 434
6,438
3,912
2 463
6 156
4 380
2 439
6 109
5 380
2 497
Q 563
6 028
2 618
6 342
7 162
2 g27
6 981
7 749
2 622
g' 354
80, 785
42, 063
i 66, 969
i 39, 523
55, 369
38, 295
48, 750
37, 971
51, 634
38, 561
51, 648
38 821
65,911
45 688
85 775
52 245
104 257
54 061
117 252
56 200
120 721
53 052
116 096
53 069
1,854
2,006
1,894
1,816
1, 654
1,847
1,316
2,059
2,791
2,244
2,641
2,500
3 613
2 588
2 999
2 473
2 306
1 583
3 269
1 194
2 840
1 373
2 949
1 271
.091
1.650
.091
1. 650
.091
1.500
.091
1.500
.091
1.400
.091
1.350
.091
1.150
.098
.950
.098
.900
.098
.900
.098
.900
.098
.900
12, 171
16, 744
24. 933
'387
13, 040
16, 633
i 22, 679
752
10, 742
14, 608
18, 530
217
11, 964
12, 853
16,817
652
10, 978
8,150
18, 955
613
7,084
5,504
19 614
950
9,519
5 268
23 061
740
11 083
5 883
27 387
796
9
11 620
6 014
32 401
' 525
10 498
7 156
35 021
?
655
.101
.101
.101
.101
.101
.101
.101
.108
.108
.108
5,157
3 163
9,617
1,429
4,963
3 381
9,856
1,292
4,456
2 827
10, 049
1,357
4,921
2 990
10, 169
1,751
4,831
3 509
10, 154
1,276
3 492
2 525
9,610
1,448
4 855
3 414
9,694
1 297
4 peg
3 224
9,775
1 295
4 857
3 343
9 620
1 610
4 694
3 433
9 745
1 070
.290
.290
.290
.290
.290
.290
.270
.270
.270
.270
i New basis. Comparable data for December 1951 (thous. bbl.): Distillate fuel, 85,872; residual fuel, 42,955; kerosene, 26,940.
series.
„
_ for large
„ cities. Wholesale prices
.,
$s. Retail_prices are weighted
averages
supersede former quotations on tracks, destination.
10 919
12 230
33 289
' 358
.108
4
3
9
1
2.570
8 523
6 740
.098
.900
11 792
12 455
32 199
358
.108
Q4o
711
869
055
4 507
2 800
10 561
938
.260
.250
.108
.220
t Revised
Figures prior to 1951 will be published later.
§Revisions for 1950 will be shown later.
^Includes stocks of heavy crude in California.
f Revisions for January-July 1951 will be shown later.
©Excludes "special category" exports not shown separately for security reasons.
NOTE FOR RADIO, TELEVISION SERIES, P. S-34. *New series. Compiled by the Radio-Television Manufacturers Association. Data represent industry totals based on reports
from both members and nonmembers of the association. Both private and company brands are included. Radio production comprises home, portable battery, automobile, and clock models;
television sets include combination models. Annual totals for 1924-46 for radios and monthly data for 1947-50 for radio and television sets are shown on p/20 of the October 1952 SURVEY.
Data for December 1951 and March, June, and September 1952 cover o weeks; December 1952, 6 weeks; other months, 4 weeks.
SURVEY OF CURRENT BUSINESS
S-36
« 1952
1951
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
December
February 1953
January
February
March
April
May
June
July
August
September
October
November
December
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS—Continued
Refined petroleum products— Continued
Motor fuel:
All types:
Production, total
thous. of bbl
100, 039
98, 551
93, 134
99, 093
92, 553
74, 485
105, 022
104, 873
98, 340
107 427
104, 977
Gasoline and naphtha from crude petro82, 052
87, 096
81,819
87. 446
63, 752
86, 638
93, 373
92 564
leum
thous of bbl
88, 800
95 742
93 663
18, 724
18. 941
19, 058
18, 070
17,917
16, 796
Natural gasoline and allied products do
17, 310
17, 669
19, 605
18, 259
18, 248
Sales of 1. p. g. for fuel, etc., and trans6.988
5,608
7,702
7,953
6,727
7,183
6,063
fers of cycle products
thous. of bbl
6,574
6,934
7,296
6,020
8,459
8,113
8,038
8,041
7,398
8,838
8,761
8,437
9,759
Used at refineries _
...do _.
8,938
9,186
86, 863
82. 043
87, 065
98, 653
84, 394
99, 305
105, 307
103,
689
Domestic demand-.
_
do
101, 137
100,
095
102, 954
Stocks, gasoline, end of month:
152, 556
136, 161
143, 512
112,232
111,770
117,235
143, 910
116, 039
108, 708
110, 750
113, 698
Finished gasoline, total
.. -do
81.054
87, 458
83, 129
90, 695
64, 731
60, 389
58, 180
At refineries
do
70, 051
57, 180
57, 244
59 276
8.378
8,178
8,002
8,133
7,747
7,617
7,934
7,858
8,292
Unfinished gasoline
_ ._ .do _
7,842
7,293
7,896
8,585
9, 366
8,186
9,527
9,246
10, 035
10, 095
8,890
Natural gasoline and allied products do
9,722
8 925
2,558
2,144
3,47G
1,903
2,466
975
1,889
2,386
2,730
2,203
2,164
Exportsc?
do
Prices, gasoline:
Wholesale, refinery (Oklahoma, group 3)
.103
.103
.104
.103
.100
.103
.104
.104
.104
.104
dol. per gaL.
.104
.129
.129
.129
.129
.129
.129
.129
.129
.129
.129
Wholesale, regular grade (N. Y.)*
do
.129
.199
.202
.205
.203
.200
.201
.205
.204
.202
Retail, service stations, 50 cities
do
.203
.204
Aviation gasoline:
6,409
6,922
6,116
6,555
6,137
4,906
6,003
6,552
7,193
Production, total
thous. of bbl
6,988
6,694
5,076
5,435
5,480
4,875
5,848
4,339
5, 068
5 417
100-octane and above
do
5 977
5 325
6 191
T
8,399
8,529
7,633
8,277
8,503
7,859
7,332
Stocks, total
do
7,311
7,865
8 085
8, 397
3,761
4,421
4,422
4,356
4,483
4.507
3,878
3,863
4,751
4,259
100-octane and above
-do
4,470
Asphalt:
719, 300
739, 300
922, 900 1,009,500 1. 280, 700 1,383,600 1, 493, 500 1, 475, 100 1, 407, 100
605, 600
Production
short tons_. 671, 300
1, 203. 600 1,331,500 1, 527, 300 1, 713, 500 1,753,500 1, 660, 500 1,436,000 1,167,100
690, 400
967, 500
Stocks, refinery, end of month
do
755 800
Wax:
94, 360
95, 480
92, 400
98, 280
100. 240
80, 360
96, 880
92, 680
113,120
Production
thous. of Ib
116, 200
105, 000
202, 440
199, 360
193, 480
194, 040
190,400
179, 200
169, 680
179,760
158, 480
Stocks, refinery, end of month
_. - do
173, 600
168, 000
Asphalt products, shipments:
3,549
3,869
4,742
2,485
3,516
5,172
5,103
5, 355
6,609
Asphalt roofing, total _
_ thous. of squares. .
5,856
6,387
Roll roofing and cap sheet:
876
1,019
928
913
634
1,040
1,001
1,321
1,060
1,169
1,405
Smooth-surfaced .
.
.
do - _ ~
882
861
888
1,046
656
1,109
1,133
1,166
1,365
1,549
1,617
Mineral-surfaced
do
1,705
2,067
2,676
1,195
1,811
3,023
2,969
3,322
3,130
3,587
Shingles, all types .
_ _
do ._.
3,517
163
135
126
144
123
119
136
120
151
224
190
Asphalt sidings
do
52, 791
32, 602
46, 644
45, 957
59, 274
44, 641
56, 335
52,540
61, 200
67, 754
62, 439
Saturated felts . _ _
short tons. _
104 894
93, 148
19, 396
7,650
9,317
91,326
121, 645
63, 809
7, 8r4
8,584
3,447
.104
.129
.201
.104
.129
.203
6,977
5 661
8 451
4,536
998, 700
910, 400
106, 680
156, 520
4,254
2,931
950
1,037
2,266
174
52, 099
676
782
1,472
127
40, 792
PULP, PAPER, AND PRINTING
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
. thous. of cords (128 cu. ft.)-Consumption
do
Stocks, end of month
do.
Waste paper:
Receipts
.
_
short tonsConsumption
do
Stocks, end of month
.do
2,213
2,102
5,072
2,699
2,339
5,445
2,561
2,227
5,775
2,482
2,332
5,915
1,903
2,235
5,582
1,900
2,247
5,234
2,044
2,127
5,148
2,211
1,910
5,448
2,527
2,209
5,766
2,355
2 104
6,007
2,255
2 351
5,917
548, 752
544, 983
589, 340
665, 051
657, 518
593, 508
620, 775
632, 317
580, 809
647, 081
650,550
576, 038
650, 014
640, 933
587, 616
597, 539
618, 966
564, 079
589, 727
605, 572
548, 623
550, 030
561, 067
536, 811
631, 070
667, 847
501, 402
693, 247
698 420
496, 775
786, 664
775 224
510, 317
1,436
61, 764
759, 711
210, 283
39, 480
207, 014
83, 501
1,373
52, 739
723, 351
207, 844
37, 651
194, 723
82, 763
1,456
59, 532
763, 939
215, 584
39, 041
214, 847
86, 773
1,375
60, 737
708, 162
205, 611
37, 813
198, 464
89, 170
1,402
61, 855
724, 682
206, 808
37, 840
203, 259
87, 398
1, 323
56, 102
690, 882
184, 265
33, 893
194, 762
89, 236
1,180
55, 839
607, 453
156, 865
26, 953
181, 974
84, 161
1,381
62, 173
728, 421
196, 340
32, 708
194, 697
83, 646
1,305
60, 401
670, 471
186, 823
32, 320
185, 254
84, 958
1,461
65, 441
761, 522
205, 110
36, 628
204 312
92, 331
108, 352
23, 733
27, 772
1,540
39, 227
113, 520
26, 886
26, 144
1,781
38,912
124, 064
29, 926
30, 180
1,973
41, 861
139, 706
32, 894
34, 473
2,161
42, 547
147, 535
35, 416
34, 249
2,170
41, 088
156, 864
38, 813
38, 488
2,640
41, 030
146, 208
35, 867
33, 417
2,563
36, 722
152, 021
42, 955
32, 252
2,425
31, 983
146, 712
42, 769
32, 722
2,321
26 681
14, 540
175, 765
20, 534
65, 696
68, 278
2,273
17, 998
24, 261
161, 738
14, 623
65, 882
63, 453
2,654
14, 306
22, 369
155,331
14, 339
56, 373
61, 804
2,573
19, 544
29, 522
145.643
16, 595
49, 562
57,311
2,619
18, 878
30, 131
147, 433
15, 028
59, 365
52, 766
2,229
17, 408
19, 666
133, 599
13, 353
50, 681
46, 551
2,197
20, 205
9,883
122, 636
18, 053
47, 747
40, 689
1,743
13, 851
14, 861
138, 616
19, 333
50, 814
46, 837
2,113
18, 846
11,388
160, 423
19, 833
59, 195
50, 536
2,494
27, 773
WOOD PULP
Production:
Total, all grades
thous. of short tons. - r 1. 280
52, 325
Dissolving and special alpha'''
short tons
657, 995
Sulphate (paper grades) t do
201, 571
Sulphite (paper grades) f - -- -do
35, 526
Soda
_ . _do _ _ ' 193, 749
Oroundwood
do
Defibrated, exploded, etc
do
•• 63, 643
Stocks, own pulp at pulp mills, end of month:
Total, all grades
short tons.. f 106, 030
20, 280
Sulphate (paper grades)f
-do
33, 093
Sulphite (paper grades) f
do
1,816
Soda
do_
37, 969
Groundwood
do
Exports, all grades, total
_. Imports, all grades, total
Dissolving and special alphaf .- __ _
Sulphate (paper grades) f
Sulphite (paper grades) t Soda
Groundwood -
do
do.
do._ _
do
do__ .
do
do
23, 583
168, 237
16, 785
64, 329
63, 270
2, 430
20, 209
r
2, 150
r 2 224
5,843
2 270
2 135
5 949
685, 279
704 127
492, 249
696 821
666 607
521 735
r
1,394
59, 762
739, 059
190, 129
35, 173
189 874
93, 005
1 348
49 548
700, 304
186 717
36 004
197 113
91, 021
149, 404
42, 786
31, 489
2,282
22 563
154, 700
43, 809
32, 513
2,641
22 394
154 505
47, 159
29 918
2 403
25 131
11, 560
170, 340
25, 579
63, 100
55, 096
2,257
23, 593
11,712
200, 827
23, 787
74, 047
72, 759
2, 298
27, 107
r
r
r
r
PAPER AND PAPER PRODUCTS
All paper and paperboard mills:
Paper and paperboard production, total
2,071
2,014
1,847
2,105
1,762
1,949
2,005
2,011
2,279
' 2, 104
2,059
2,027
thous. of short tons_2,024
1,095
869
1,048
1,051
1,080
••992
1,029
981
1,022
990
969
1,118
Paper (inch building paper)
.do
974
942
859
881
867
941
1,075
875
783
743
892
••997
858
Paperboard
__ do
941
124
95
97
95
115
110
126
97
118
106
110
82
110
Building: board..
-.do
r
Revised.
cfExeludes "special category" exports not shown separately for security reasons.
*New series. Prices are for bulk lots, f. o. b. refineries. Quotations prior to 1951 will be shown later.
t Beginning with this SURVEY, data for rayon and special chemical grades of wood pulp produced by the bleached sulfate and bleached sulphite processes have been combined under the
dissolving and special alpha grades. The sulphate and sulphite grades (including bleached and unbleached) are for paper grades only. In 1949, production of dissolving and special alpha grades
averaged 35,000 tons per month. Data beginning 1950 will be shown later.
SURVEY OF CURRENT BUSINESS
February 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1952
1951
December
S-37
January
February
March
April
May
June
July
August
September
October
November
T
r
r
r
r
807 132
784, 617
756 433
749, 664
427 350
r
r
r
r
r
892 616
817, 556
851,888
861, 102
418 101
r
r
r
r
r
r
r
r
107, 357 r 91,517
92 000
' 52, 824 'r 48, 642 47,640
111,288 r 98 393
96 000
111, 547 r 95, 699
93, 000
r
98 903 101 597
104 597
December
PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCTS— Con.
Paper, excl. building paper, newsprint, and paperboard (American Paper and Pulp Association) :
820, 265
Orders, new
short tons
Orders, unfilled, end of month.. _
do __
870, 769
861, 248
Production
do
863, 959
Shipments
do
338, 617
Stocks end of month
do
Fine paper:
106, 947
Orders new
do
122, 703
Orders, unfilled, end of month..
_. ...do _
118, 200
Production
do
Shipments
.
do. __ 119.040
Stocks end of month
do
65, 795
Printing paper:
274, 755
Orders new
. -do
Orders, unfilled, end of month.. ... .. .do. _. 447, 761
291, 707
Production
do
292, 939
Shipments
._
- - - - - - - .... do
117, 748
Stocks end of month
do
Price, wholesale, book paper, "A" grade, Eng13.15
lish finish, white, f. o. b. mill*..dol. per 100 lb_.
Coarse paper:
291, 794
Orders, new
short tons
Orders, unfilled, end of month . .... .do ._ 217, 091
305, 258
Production
do
304, 411
Shipments
do
94, 367
Stocks, end of month
.
do
Newsprint:
Canada (incl. Newfoundland):
435, 287
Production
do
461,455
Shipments from mills
..do _
101,910
Stocks at mills, end of month
do
United States:
387, 783
Consumption by publishers
..
do
91, 763
Production
do ._
91, 721
Shipments from mills
do
Stocks, end of month:
7,568
At mills
do
430, 431
At publishers
do
In transit to publishers ....
do
91, 765
403, 934
Imports
do
Price, rolls, contract, delivered to principal
116. 75
ports*
_ . -. -dol. per short ton. _
/aperboard (National Paperboard Association) :
Orders, new
short tons_. 806, 300
358, 700
Orders, unfilled, end of month
do
793, 950
Production total
do
71
Percent of activity
__
_
Paper products:
Shipping containers, corrugated and solid fiber,
5,122
shipments
mil. sq. ft. surface area
Folding paper boxes, value:
498.1
New orders
1936=100
528.0
Shipments
.. .
do
962, 506
914, 567
932, 288
911,745
326, 610
842, 191
903, 374
865, 400
851,819
344, 664
852, 186
854, 820
896, 773
881, 775
361, 070
813, 274
825, 736
850, 216
842, 129
369, 375
740, 502
747, 506
817, 027
803, 031
376, 503
753, 235
729, 006
773, 003
769, 654
381, 065
715, 288
768, 806
674, 759
671, 174
384, 550
752, 557
726, 902
775, 723
768, 208
422, 465
136, 428
141, 965
126, 753
125, 513
64, 558
114, 955
138, 310
122, 133
116, 643
67, 895
108, 853
120, 280
124, 033
121, 995
69, 710
104, 915
111,930
116,076
113, 781
72, 250
91, 140
93, 500
115, 790
109, 550
78, 490
89, 628
86, 000
100, 121
96, 843
81, 905
83, 848
88, 000
84, 195
81, 323
84, 750
82, 938
57, 150
100, 213
98, 080
93 850
343, 367
475, 000
315, 983
310, 450
129, 798
288, 745
475, 150
290, 945
290, 555
130, 180
288, 200
458, 050
300, 497
295, 680
135, 960
296, 780
460, 500
295, 614
293, 550
138, 025
261, 286
425, 000
288, 313
285, 851
140, 488
276, 760
423, 000
278, 120
279, 095
139, 500
262, 177
450, GOO
238, 014
232, 209
145, 300
258, 666
422, 402
267 433
264, 517
140 775
13.15
13.55
13.55
13.55
13.55
13.55
13.55
13.55
329, 159
192, 045
320, 281
317, 727
66, 884
286, 297
193, 108
293, 068
289, 132
75, 550
294, 560
182, 684
307, 066
300, 445
82, 900
254, 759
160, 500
277, 891
276, 686
84, 100
246, 360
140, 000
269, 058
262, 180
84, 000
237, 383
135, 000
250, 159
240, 210
95, 000
221, 930
143, 000
216, 743
212, 740
99, 000
257 062 r 259 527
155, 270
170 090
256, 307 rr 245, 051
251, 791
244 705
130 250 r 130 595
470, 456
445, 212
127, 154
457, 835
441, 349
143, 640
476, 492
453, 162
166, 970
471, 235
468, 018
170, 187
495, 972
492, 478
173, 681
451, 915
483, 791
141, 805
485, 539
483, 250
144, 094
486 496
488 575
142 015
345, 315
97. 216
95, 046
348, 630
94, 759
96, 982
399, 258
99, 633
98, 696
393, 470
94, 767
94, 250
404, 071
103, 440
103, 783
379, 943
99, 080
98, 138
329, 729
94, 192
94, 933
9,738
460, 378
89, 491
385, 574
7,515
475, 502
99, 741
398, 936
8,452
457, 617
87, 887
416, 469
8,969
460, 475
72, 475
419, 848
8,626
442, 739
79, 028
409, 649
9,568
476, 479
74, 592
459, 005
8,827
532, 297
75, 474
427, 845
116. 75
116. 75
116. 75
117. 00
117. 00
119. 50
119. 50
883, 200
405, 500
835, 000
81
829, 300
355, 200
867, 800
86
923, 000
380, 400
880, 500
85
875, 600
417, 600
869, 500
82
880, 000
375, 000
906, 000
82
850, 300
352, 900
832, 800
82
845, 800
444, 200
773, 700
71
91 582
56, 738
100
268
r
93 032
r 99 195
r
r
298 820
465 435
256 921
255 785
141 915
r
r
758 480
776, 929
799, 466
799, 107
418 460
r
313, 878 r 248 823
r
487, 440 rr 460, 111
r
293 743
277 372
T
292, 239 'r 276, 1 52
r
143 419
144 639
13.55
821 000
781, 785
808 000
799, 000
427 458
305 000
461, 000
288 000
287 000
145 639
13.55
P 13. 55
513 r 263 053
184, 550 r 173,218
273, 935 'r 269, 137
280, 050 r 274, 385
124 480
119 232
272 000
176,200
269, 000
269 000
119 232
461 508
462 404
141 119
502 791
486 159
157 751
463 435
498 987
122 199
463 377
463 064
122 512
341 571
97, 831
99 008
379 669
92 301
90 645
425 981
97 144
97 789
416 974
89 842
90 429
386 627
86 659
83 007
7
573
86
400
9
582
77
422
8
561
69
432
661
016
364
597
8 074
527 525
97 206
407 300
11 726
530 651
81 258
125. 25
125. 25
f 125 25
650
502
444
541
122. 00
13.55
306
209
578
887
122 00
r
294
r
r
r
T
917, 500 1, 065, 800 1, 076, 300 1, 020, 500 1, 077, 600
388, 400
453 000
459 900
457 400
478 400
955 600
955 700 1 142 200 1 004 900 1 029 100
89
96
96
85
88
5,550
5,569
5,935
5,765
5,974
5,580
5,538
6 340
6 743
7 471
6 796
6 707
654.6
639.8
608.8
619.0
636.9
630.2
581.3
614.6
604. 1
604.1
666.4
638.7
627.4
575.5
688.9
661.3
693 4
719.1
740 4
777 5
624 1
644 6
626 7
670 8
720
557
163
723
575
148
1,371
1,081
290
1,055
855
200
1,240
937
303
1,003
754
249
601
472
129
904
699
205
949
796
153
1 118
930
188
1 263
1 034
229
893
709
184
32, 760
84 839
49 251
32 941
84 657
67 139
39 274
84 190
51 510
r 41 749
44 502
95 828
PRINTING
Book publication, total
New books
New editions
.-. .
number of editions.
do
-do
1,083
872
211
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
long tons
Stocks end of month
do
Imports, including latex and guayule
do
Price, wholesale, smoked sheets (New York)
dol. per lb_Cheinical (synthetic):
Production
_ __.
_ long tons
Consumption
do
Stocks, end of month
do
Exports
do
Reclaimed rubber:
Production
do
Consumption
do
Stocks, end of month
do ..
33, 256
76, 5fi9
45, 364
36, 989
75, 488
83, 283
34, 841
73, 959
76, 383
35, 682
61,553
85, 172
36, 417
59, 422
82, 974
36, 347
63, 988
59, 188
36, 946
72 995
67, 246
45 110
82 861
55 651
r 86 243
48 776
.270
'.290
.300
62 553
60 540
73 963 r 66' 240
133. 042 •• 123, 745
1 525
1 148
65 740
71 098
119, 616
.520
.520
.505
.505
.485
.485
.380
.315
.305
.275
76, 961
60, 421
129, 952
1,430
75, 971
70, 330
138,688
1,831
74, 943
66, 567
145, 277
2,141
79,416
69, 744
151,249
3,490
77, 437
68, 492
159, 701
2,415
61,368
67, 339
154, 339
2 350
64, 040
66 203
151,324
1 154
58 992
58 642
152, 373
1 499
59 214
61 214
150, 254
1 921
58 352
66 668
141, 837
1 573
23, 677
22, 044
45, 082
27, 755
26, 553
45, 067
23, 883
24, 518
43, 306
22, 808
24, 797
40, 579
23, 948
23, 911
39, 767
23, 142
22, 314
40, 169
21 079
21 850
38, 973
16 213
18 354
36' 287
17 131
20 548
32 224
21 732
23 131
31 430
27 405
26 830
31 463
6,441
4,517
1,800
2,519
198
8,765
210
7,872
6, 529
2,140
4,243
146
10, 039
150
7,463
6,184
2,301
3,721
163
11, 370
164
7,786
6,134
2,484
3,512
137
13, 043
181
7,189
6,967
2 814
4,038
115
13, 295
127
7,433
7,443
2 719
4,624
101
13, 263
108
7 366
9 003
2 617
6*256
130
11 668
107
7 097
1 148
1 186
5 845
117
11 647
140
6 933
7 989
1 632
6 226
131
10 637
159
8 663
7 846
3 200
4 532
114
10 821
95
7
r5
2
r3
384
892
665
140
86
12 272
85
945
226
916
173
137
14 093
5, 143
3, 556
10, 094
144
5,582
5,475
10, 343
93
5,138
4,958
10, 507
125
5 497
5,034
10,900
105
5 481
5,305
11,013
88
5 771
5 330
11, 493
63
5 536
6 040
10 974
83
4 790
4 507
11 223
134
4 867
5 431
10 627
' 79
7 391
8 049
2 g26
5 082
141
9 960
154
5 397
5*984
10 086
104
6 220
5 859
10 386
55
5 117
4 617
10 910
60
5 644
4 869
11 744
r 22 684
T 22 896
r 30 176
25 563
24 025
3o'o63
TIRES AND TUBES
Pneumatic casings:
Production
Shipments, total
.
Original equipment
Replacement equipment.
Export...
Stocks, end of month
Exports©. _
Inner tubes:
Production §
Shipments!
Stocks, end of month§
Exports
...
T
thousands
do
do
do
...do -.do
do_ _.
do
do
do_
do
Revised.
* Preliminary.
*New series. Compiled by the U. S. Department of Labor, Bureau of Labor Statistics; monthly data beginning 1947 will be shown later.
©Excludes "special category" exports not shown separately for security reasons.
§Includes data for motorcycles.
7
6
2
3
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
February 1953
1952
1951
December
January
February
March
April
May
June
July
September
October
November
December
160, 795
174, 449
182, 612
176,845
164, 085
20, 881
87
13 740
15, 964
5,280
August
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments . .reams. . 132, 524
159, 041
162, 959
174, 155
185, 451
168, 174
161, 544
157, 412
PORTLAND CEMENT
Production. . _ _
Percent of capacity
Shipments
Stocks, finished, end of month
Stocks, clinker, end of month.
. thous. of bbL_
19, 874
17, 039
16, 545
18, 095
19, 817
21, 829
20, 748
21, 342
23, 573
23, 010
24, 181
22, 048
thous. ofbbl
do
-__do. _
11,791
17, 993
T
4, 729
12, 696
22, 336
7,056
14, 362
24, 519
8,987
15,993
26, 622
10, 741
21, 764
24, 672
10, 348
23, 282
23, 220
9, 513
25, 067
18, 896
8,483
25, 084
15,158
7,548
25,915
12,819
6,262
26, 240
9, 584
5,352
27, 222
6,546
4,360
19 771
8, 823
r
4, 329
447, 208
350, 014
406, 229
353, 812
392, 482
378, 321
434, 789
411,819
484, 468
492, 488
489, 779
479, 409
510, 226
504, 459
538, 183
530, 377
531, 547
512, 135
530, 990
527 147
546, 446
551 040
471,331
440 700
85
73
76
78
86
92
90
90
99
99
101
95
CLAY PRODUCTS
Brick, un glazed:
Production!
thous. of standard brick..
Shipments^
do
Price, wholesale, common, composite, f. o. b.
plantf
dol. per thous
Clay sewer pipe, vitrified:J
Production
short tons
Shipment?
_
_
do. _
Structural tile, unglazedrt
Production
do
Shipments
._ . do
27. 366
27. 317
27. 317
27. 317
27. 217
27. 217
27. 217
i 27. 409
27. 409
27. 409
27. 409
27. 409
125, 962
83, 177
134, 045
86, 576
127, 442
97, 107
139, 685
118,092
139, 573
139, 744
128, 020
134, 221
143, 426
145, 603
132, 0(51
142, 566
136, 595
146, 934
145 012
150, 341
151 052
160, 498
130 019
120, 23"
85, 965
66, 395
81,948
71, 403
78, 061
75, 617
76, 119
69, 494
82, 647
84, 813
84, 209
82, 285
86, 470
83,994
91,836
87, 251
85, 434
87, 976
82, 911
83, 338
82, 736
88, 572
73 216
73, 326
7,603
7,568
8,941
8,485
8,783
8,053
9,400
9,005
9,523
9,577
10, 220
9,888
10, 080
9,607
10, 042
9,735
10, 700
11,126
10, 100
9,688
10, 704
10, 119
8,888
8, 296
27. 409
GLASS PRODUCTS
Glass containers:
Production
thous. of gross
Shipments, domestic, total
do
General -use food:
Narrow-neck food
do
Wide-mouth food (incl. packers' tumblers,
jelly glasses, and fruit jars). -thous. of gross. .
Beverage (returnable and nonreturn able)
thous. of gross _ _
Beer bottles
_
_
do_. .
Liquor and wine
do
Medicinal and toilet
_
do ...
Chemical, household and industrial
do
Dairy products
do
Stocks end of month
do
Other glassware, machine-made:
Tumblers:
Production
thous. of dozens.
Shipments
do
Stocks
__
do_ _ Table, kitchen, and householdware, shipments
thous. of dozens..
8, 250
7,889
674
783
859
881
1,125
1,216
915
892
1,186
1,464
1,220
719
653
1,885
2,498
2,123
2,400
2,474
2,767
2,706
2,733
3,210
2,736
2,818
2,234
2, 109
532
873
525
841
503
874
655
806
977
955
1,123
1,198
1,073
1,244
2,272
767
700
1,061
2,355
2, 064
1,860
1,834
783
1,257
1,120
2,313
476
768
1,035
2,111
666
570
1,380
2,298
484
714
961
1,928
756
28510, 166
2,161
1,962
9,453
9,635
10, 093
10,216
9,863
9,871
10. 060
10, 107
9,449
9,594
9,854
330
528
1, 381
2, 083
751
270
10, 087
3,800
3, 352
11, 579
4,883
4,473
11,837
5,136
5,514
9,989
5, 357
5, 061
10, 241
4,701
4,987
9,892
4,537
5,329
9, 073
4,831
5,491
8,349
4,966
5,245
8,023
5,833
5,181
8,628
3,816
4,050
8,389
5,696
6,012
8,035
5,191
4, 693
8, 431
4,9&
4,428
8,911
2,589
3,005
3,857
3,431
3,474
3,551
2,908
2,945
3,354
3,308
4,374
3,666
3,295
13, 278
12, 886
26, 327
906
1,795
572
330
741
679
258
840
693
199
979
783
228
850
244
940
735
233
852
739
214
905
788
264
928
327
772
327
859
307
GYPSUM AND PRODUCTS
Crude gypsum, quarterly total:
Imports
thous of short tons
Production
do
Calcined production quarterly total
do
Gypsum products sold or used, quarterly total:
TJncalcined
short tons
Calcined:
For building uses:
TCeene's cement
All other building plasters
Lath
Tile
W^llboardc?1
Industrial plasters
do
do
thous of sq ft
do
do
short tons
859
2,027
1,681
401
1,806
1,582
734
2,067
1,720
636, 366
526, 045
559, 966
471, 072
10, 648
146, 036
602 500
7,763
776, 854
71, 377
451, 841
13, 086
134, 090
508, 785
7,602
761,566
67, 484
494, 822
14, 045
143, 059
589, 300
6,670
830, 644
61, 426
r
r
1,218
2, 164
1 846
602 603
533, 226
13,337
165 283
645 548
6,265
902 174
58 438
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
._ . _ _ thous. of dozen pairs,.
Shipments
_
_
do _ _
Stocks, end of month _
do .
11,393
11,611
28, 199
13, 945
13, 366
28, 907
13, 592
14, 530
13, 465
13, 495
28, 851
13, 250
13, 961
28, 163
13. 476
13, 551
28, 067
13, 324
12,317
29, 129
13, 046
12, 481
29, 774
11, 768
11,637
29, 905
13, 892
14, 447
29, 350
14, 076
15,155
28,200
15, 627
16, 757
27, 068
14, 108
15, 034
26, 140
176
1,413
5,716
10, 786
13, 420
COTTON
Cotton (exclusive of linters) :
Production:
Ginnings§
thous of running bales
Crop estimate, equivalent 500-lb. bales
thous. of bales
Consumption^
bales. _.
Stocks in the United States, end of month,
totalf
thous. of bales..
Domestic cotton, total
.
do
On farms and in transit
do
Public storage and compresses
do-. .
Consuming establishments
do
Foreign cotton, total _
.
do _ . _
r
2 15, 072
671, 803
923, 219
769, 641
10, 638
10, 551
3,371
5,644
1,536
9,057
8,978
2,418
4,920
1,639
7,577
7,476
1,442
4,394
1,640
87
80
101
14, 715
2 15, 144
735, 251
848, 055
686, 951
674, 773
697, 637
744, 383
736, 248
915, 593
759, 737
15, 038
697, 984
6, 434
6, 337
5,257
5,160
4, 259
4,172
3,307
3, 224
2,745
2, 675
15,454
15,387
12, 778
1,795
15, 079
15,021
10, 095
3,977
14, 354
14, 303
6,401
6,644
1,258
13, 410
13, 461
4,534
7 437
1,439
12, 373
12,317
2,967
7,779
1 571
970
3,773
1,594
97
638
2,992
1,530
97
412
2,380
1,381
86
253
1,782
1,189
83
220
1,457
998
70
814
66
949
58
51
Revised. l Specification changed; earlier data not strictly comparable. 2 Total ginnings of 1951 crop. 3 Ginnings to January 16. * December 1 estimate of 1952 crop.
fRevisions for January-July 1951 will be shown later.
fRevised series. Data beginning 1947 will be shown later.
d* Includes laminated board, reported as component board.
§Total ginnings to end of month indicated.
IfData for January, April, July, and October 1952 cover 5-week periods and for other months, 4 weeks; stocks are for end of period covered.
3
4
51
55
SURVEY OF CURRENT BUSINESS
February 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1952
1951
December
S-39
January
February
March
April
May
June
July
August
September
October
November
December
TEXTILE PRODUCTS—Continued
COTTON— Continued
Cotton (exclusive of linters) — Continued
Exports .
bales
Imports
do
Prices received by farmers
cents
per
Ib
Prices, wholesale, middling, 1Me", average, 10
markets
cents p e r l b _ _
Cotton linters :1
Consumption _
_ _ ___ thous. of bales
Production
do
Stocks, end of month
do
979, 762
2,214
40.3
676, 299
15, 453
2 38. 5
587, 763
35, 470
2 36. 9
419, 104
1, 652
236.0
334, 248
1,449
2 36. 8
316, 461
373
236.0
264, 418
4,367
238.0
48, 114
6, 865
237.0
106, 853
7,797
237.9
240, 501
10. 909
2 39. 1
295, 528
7, 735
236.8
337, 208
121, 362
234.1
231.7
42.2
41.8
40.6
40.8
40.7
38.6
40.4
39.4
39.4
38.9
36.7
34.8
33.1
117
205
r
539
118
221
620
120
174
629
108
140
655
98
99
630
97
70
560
99
46
541
80
36
532
95
46
528
88
168
578
108
256
706
109
233
837
114
211
901
2,319
77, 431
1,846
62, 133
1,884
72, 283
1,999
2,381
73, 609
1, 434
59, 942
1,643
63, 442
1,295
2 264
54, 136
1,251
54, 291
2,532
63, 315
1,529
2 323
61, 830
3,976
70, 340
6,433
67,119
3,271
29.95
42.7
18.1
19.8
29.04
42.7
17.8
19.4
28.45
42.7
17.0
18.8
26.61
42.7
16.5
18.0
25.83
42.7
16.4
17.3
26.17
42.7
16.0
16.5
24.40
40.7
16.8
16.5
27.09
40.7
17.4
17.0
28.89
40.7
18.4
17.5
31.13
40.7
19.3
17.8
33.98
40.7
19.3
17.8
34. 98
40.7
18.3
17.8
36.45
40.7
» 18. 5
v 17.3
.784
1.069
.755
1.035
.738
1.019
.730
.991
.727
1.006
.733
1.022
.742
1.045
.767
1.080
.762
1.082
. 745
' 1. 075
p .728
v 1. 041
21, 398
20, 000
9, 516
476
8,870
128.1
21,432
20, 041
9, 768
501
9,134
135.1
21, 612
20,215
12,341
499
11,525
134.8
21, 583
20, 180
9,870
506
9,219
137.0
21, 632
20, 290
9,183
4.83
8,637
130.9
81.0
26.7
75.0
24.1
'73.6
'26.8
71.2
25.1
5,010
'58.4
17.8
3,872
'59.1
r
15.9
3,687
64.4
17.4
.780
.400
.780
.400
.780
.400
.780
». 366
COTTON MANUFACTURES
Cotton cloth:
Cotton broad-woven goods over 12 inches in width,
production, quarterly d"___mil. of linear yards__
Exports _ _ _ _ _
thous. o f s q . y d
Imports
do
Prices, wholesale:
Mill margins _ _ _ _ _
_
cents p e r l b _ _
Denim, 28-inch*
cents per yd
Print cloth, 39-inch, 68 x 72*
do
Sheeting, in gray, 40-inch, 48 x 44-48*
do
Cotton yarn, natural stock, on cones or tubes:
Prices, wholesale, f. o. b. mill:*
20/2 carded, weaving
dol per Ib
36/2, combed, knitting
do
Spindle activity (cotton system spindles) :1[
Active spindles, last working day, total___thous__
Consuming 100 percent cotton
do
Spindle hours operated, all fibers, totaLmil. of h r _ _
Average per working day
do
Consuming 100 percent cotton
do __
Operations as percent of capacity
21, 516
20, 264
8, 336
439
7,823
118.4
21, 360
20, 102
11,399
465
10, 686
125.8
21, 126
19, 854
9,265
471
8, 696
127.3
21, 159
19, 885
9,040
452
8,478
122.3
20, 910
19,613
10, 607
424
9,948
114.5
20, 834
19, 513
8,110
416
7,532
112.0
20, 770
19, 453
8,700
435
8,102
117.3
21, 325
19, 948
9,112
380
8,501
102.2
57.5
23.9
'63.1
27.3
57.8
23.6
55.6
19.9
'57.7
21.6
'66.8
r
24.2
75.2
27.2
83.1
26.9
RAYON AND ACETATE AND MFRS.
Filament yarn and staple:
Shipments, domestic, producers':
Filament yarn
mil.oflb
Staple (incl. tow)
_ do __
Stocks, producers', end of month:
Filament yarn
__
do__
Staple (incl. tow)
do
Imports
thous. of lb. _
Prices, wholesale:
Yarn, viscose, 150 denier, filament, f. o. b. shipping point*
dol. per lb
Staple, viscose !}/_ denier
do
Rayon and acetate broad-woven goods, production,
quarterlyd"
thous. of linear yards..
r
84.7
28.0
91.3
15.2
5,946
97.5
15.2
8,011
99.3
15.7
9,509
101.7
18.0
11, 175
99.1
18.9
7,128
90.0
17.8
3,864
78.8
15.2
3,902
65.1
15.9
3,995
57.7
15.0
5,960
.780
.400
.780
.400
.780
.400
.780
.400
.780
.400
.780
.400
.780
.400
.780
.400
.780
.400
445, 562
418, 931
406, 372
r
r
54. 9
T
15. 5
460, 583
SILK
Silk, raw:
Imports
thous. of lb
Price, wholesale, white, Japanese, 20/22 denier,
87% (AA), f. o. b. warehouse 9
dol. per l b _ _
848
1,524
1,205
975
705
861
1,275
967
893
1,363
1,071
716
4.78
4.82
4.97
4.91
4.89
4.90
4.95
5.23
5.43
5.43
5.47
5.43
25, 200
7,044
26, 342
29, 330
11,005
28, 493
24, 756
9,720
27, 432
23, 924
9,252
28, 519
30, 020
11,020
34, 347
25, 472
8,072
30, 633
27, 284
5,644
24, 824
31,350
6,380
31,013
30, 432
9,044
26, 979
30, 872
10, 548
28, 118
1
1
i 1. 644
1
P5.45
WOOL
Consumption (scoured basis) :§
Apparel class
thous of lb
Carpet class
do
Imports, clean wei^htA
do
Prices, wholesale, Boston:
Raw, territory, 64s, 70s, 80s, scoured.. _ dol. per lb_.
Raw, bright fleece, 56s, 58s, greasy, 47 percent
shrinkage
dol. per lb
Australian, 64s, 70s, good topmaking, scoured, in
bond
dol. per lb
1.850
.740
1
1. 650
1
' 38, 025
12, 860
64, 994
r
28, 324
10, 920
20, 316
1.600
1 1.580
1 1. 594
11.600
1.627
i 1. 660
i 1. 596
1. 665
1.725
.722
.644
.638
.598
.585
.585
.594
.605
.590
.620
.650
.650
1.725
i 1. 562
i 1. 375
1.375
1.425
1 1. 425
1.425
* 1. 425
i 1. 425
i 1. 535
i 1. 625
i 1. 675
1. 820
1.725
WOOL MANUFACTURES
Machinery activity (weekly average) :§
Looms:©
Woolen and worsted:
129
139
169
147
136
145
145
130
166
130
165
163
Pile and Jacquard
thous. of active hours
1,743
1,592
1,745
1,735
' 1, 893
1,534
1,647
1,528
1,727
1,811
1,763
1,885
Broad
do
18
19
19
13
14
16
19
18
13
20
18
20
Narrow
do
Carpet and rug:
128
134
114
73
56
138
100
112
126
117
113
139
Broad
do
54
51
52
48
51
40
27
46
46
47
50
52
Narrow
do
Spinning spindles:
r
61, 138
74,
918
70, 034
67, 953
69, 696
70, 037
73, 268
63, 457
67, 772
75, 293
73, 806
74,
504
Woolen
___do- __
78, 524
72, 078
68, 504
72, 644
68,175
74, 786
70, 404
71, 007
86, 475 r 86, 856
83, 377
83, 141
Worsted©
do
154
119
131
119
121
155
120
120
120
110
149
141
Worsted combs
do
Wool yarn:
54, 200
50, 984
50, 205
48, 372
60,115
51, 056
72,
190
60, 710
53, 472
57, 832
55, 340
56,
624
Production, total§©
thous of lb
5, 356
6,036
4,576
6, 092
7, 455
6, 563
6,705
7,960
6,150
7,608 r r 8, 980
6,888
Ivnitting§
do
34, 056
39, 585
36, 844
35, 008
35, 768
34, 204
40, 290
47, 705
40, 305
37, 208
Weaving §
do
38, 016
36, 716
r
7,160
11, 572
6,798
8,788
14, 255
11,612
10,816
13, 120
15, 505
12, 208
10, 172
Carpet and other§
do
13, 020
Price, wholesale, worsted yarn (Bradford
2.219
2.098
2.128
2.146
2.389
2.286
2.164
2.410
2.134
2.122
2.110
p 2. 122
2.122
machine knitting system) 2/20s*___dol. per lb__
r
2 Data for Ameri(3an upland ; comparat)le Decemt>er 1951 pri ce, 40.2 cen ts.
Revised.
p Preliminary.
1 Nominal price.
IData
for January, April, July, and October 1952 cover 5-wec k periods £ind for oth(>r months, 4 weeks; st ock data arid number of active st)indles are 'or end of p eriod covei ed.
(•f1 Beginning 1951. Droduction of broad-woven soo ds is classif led according to principal fiber c •mtent: pro duction of fabrics con taining 25.C -49.9 perce nt wool amI ravon an i cotton fa brics produced on woolen and worsted looms (which cannot be distributed between cotton and rayon goods) amounted to approximately 73 million yards in 1950.
*New series. Compiled by the U. S. Department of Labor, Bureau of Labor Statistics; monthly data beginning 1947 (except for cotton yarn) will be shov
9 Substituted series. Data beginning January 1950 will be shown later.
§Data for January, April, July, and October 1952 cover 5-week periods; other months, 4 weeks.
Alrriports of unmanufactured wool converted to a clean-weight basis; imports were formerly shown iri actual weight, i. e., in the condition received.
©Beginning 1951, looms weaving fabrics principally wool by weight.
©See note in August 1951 SURVEY regarding coverage of operations in cotton mills beginning with January 1951 data.
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
February 1953
1952
1951
December
January
February
March
April
May
June
July
August
September
October
November
December
J» 3. 627
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES— Continued
Woolen and worsted woven goods, except woven
felts :t
Production, quarterly, total
thous of lin yd
Apparel fabrics, total.. __ _
_ . do
Government orders
do
Other than Government orders, total do
Men's and boys'
do
Women's and children's
do
Nonapparel fabrics total
do
Blanketing
do
Other nonapparel fabrics
do
Prices, wholesale, f. o. b. mill:
Suiting, gabardine 56' 758"*
dol per yd
Women's dress goods, flannel, 8 oz., 54-inch
dol per yd
91, 325
3.713
82, 742
71, 466
17, 241
54, 225
27, 390
26, 835
11 276
5,572
5,704
87, 185
75, 687
23, 533
52, 154
25,111
27, 043
11 498
6,536
4,962
78, 029
32, 037
45, 992
18, 667
27, 325
13 296
8,435
4,861
3.713
i 3. 696
3.713
3.696
3.696
88, 370
78, 419
14, 828
63, 591
27, 007
36, 584
9 951
5,549
4,402
i 3. 731
3.731
i 3. 742
3.742
3 742
TRANSPORTATION EQUIPMENT
AIRCRAFT
Civil aircraft, shipments
Exports!
number
do
224
42
227
212
248
73
291
149
330
115
335
112
353
67
349
76
337
57
293
96
268
84
375, 410
778
755
273, 122
258,158
101,510
85, 493
435, 216
625
525
333, 224
315,012
101,367
85,157
482, 973
569
499
372,440
352, 064
109, 964
92, 614
529, 585
597
507
415,357
396, 393
113,631
98,110
503, 917
423
329
397, 486
380, 952
106, 008
90, 983
518, 710
484
382
407, 962
392, 471
110,264
94, 962
211, 782
224
220
168, 327
161, 862
43, 231
36, 231
270, 982
349
271
218, 577
211,140
52, 056
45, 204
551,159
387
330
438, 397
425, 266
112,375
99, 375
604, 261
389
260
471, 808
459, 958
132, 064
116,449
519, 536
319
244
405, 111
394, 313
114, 106
102, 504
31, 806
10, 468
21, 434
22, 100
9,205
12, 895
31, 614
14, 272
17, 342
33, 808
16, 280
17, 528
32, 772
17, 633
15, 139
32, 759
18, 007
14, 752
28, 598
13, 396
15, 202
22, 784
10, 813
11,971
14, 049
7,026
7,023
20, 089
10, 564
9,525
22, 005
9,410
12, 595
22, 047
9,015
13 032
4,907
4,609
2,464
2,145
250
5,392
5,033
2,560
2, 47"
2^ .
360, 256
70, 477
399, 906
69, 949
152
69
MOTOR VEHICLES
Factory sales, total
Coaches, total
Domestic
Passenger cars, total
Domestic.^
Trucks, total
Domestic
_
_
number. - ' 380, 655
845
do._ 746
do
r
293,
325
do
r
do
284,
831
T
86,
485
do
r
70, 322
_ do ._
535, 022
231
189
418,977
406,151
115,814
103, 648
Exports, totalj _ _ _
Passenger cars!
Trucks and bussesj
d o ___
do
do
Truck trailers, production, total
Complete trailers
Vans
_ _ .
All other
Trailer chassis
_.
do
do
do
do
do
4,634
4,366
1, 859
2,507
268
5,013
4, 657
1,950
2,707
313
4,655
4,416
1,873
2,543
219
5,124
4, 733
1,994
2, 739
364
5,298
4, 833
1,963
2,870
369
5,163
4,602
1,854
2,748
335
4,029
3,681
1,219
2,462
292
3,673
3,369
1,281
2,088
263
4, 471
4,108
1,897
2,211
230
4.887
4,552
2, 280
2,272
242
5, 465
5,149
2,708
2,441
260
Registrations:
New passenger cars
New commercial cars
do
do
310, 084
62, 596
301, 379
59, 661
295, 479
59, 285
322, 857
63,364
374, 288
73, 461
422,217
71, 690
423, 655
71, 471
340, 454
72, 134
215, 668
57, 786
318, 870
65, 381
383, 385
77, 486
8,643
6,082
6,082
2,561
8
8
8
0
7,383
5,494
5,494
1,889
21
21
10
0
8,161
5,840
5,838
2,321
4
4
4
0
7,433
5, 234
5,204
2,199
12
12
12
0
7,263
5,171
4,765
2,092
2
2
2
0
6, 539
4,976
4,848
1, 563
13
13
13
0
5,658
4,116
3,860
1,542
8
8
8
0
4,674
2,990
2,853
1,684
5
5
5
0
3,935
2,052
1,879
1, 883
13
13
13
0
5,577
3,103
2, 963
2,474
11
11
11
0
6,098
4,201
4,032
1,897
11
11
11
0
7,968
5,893
5,769
2,075
20
20
20
0
1,755
1,758
1,761
1,761
1,763
1,764
1,763
1,759
1,757
1,755
1,756
1,757
101
5.7
77, 984
46, 409
31,575
107
6.1
76, 870
45, 094
31, 776
102
5.8
75, 684
43, 144
32, 540
98
5.6
73, 609
42, 171
31, 438
89
5.1
74, 728
41, 381
33, 347
90
5.2
72, 400
40, 355
32, 045
88
5.0
67, 138
35, 803
31, 335
._
r
RAILWAY EQUIPMENT
American Railway Car Institute:
Shipments:
Freight cars, total
number. _
8,470
5,690
Equipment manufacturers, total _ do
5,678
Domestic
do
2,780
Railroad shops, domestic ..
do
25
Passenger cars, total
do
25
Equipment manufacturers, total
do
14
Domestic
do
0
Railroad shops, domestic
do
Association of American Railroads:
Freight cars (class I), end of month :§
1,752
Number owned
. ... . .thousands
Undergoing or awaiting classified repairs
90
thousands. .
5.2
Percent of total ownership
104,831
Orders, unfilled. .. .
. .
.number67, 973
Equipment manufacturers
do
36, 858
Railroad shops
do
Locomotives (class I), end of month:
Steam, undergoing or awaiting classified repairs
2,718
number ._
12.8
Percent of total on line
Orders, unfilled:
19
Steam locomotives, total
number
0
Equipment manufacturers. . . . . ..do
19
Railroad shops
do
Other locomotives, total
.
_ . do
1,720
1,720
Equipment manufacturers
do
0
Railroad shops . . .
. . . . do
Exports of locomotives, total
Steam
Other
do
do
do
87
5.0
98, 566
63, 482
35, 084
87
5.0
93, 605
60, 107
33, 498
89
5.1
91, 056
58, 234
32, 822
93
5.3
89,917
54, 810
35, 107
96
5.5
84, 341
51, 198
33, 143
2,643
12.7
2,701
13.3
2,480
12.6
2,502
13.0
2,237
12.1
2,170
12.0
2,131
12.0
2,217
12.7
2,125
12.5
2,015
12.1
1,939
11.9
1,890
11.9
18
0
18
1,594
1,594
0
17
0
17
1,573
1,573
0
16
0
16
1,441
1,441
0
30
0
30
1,463
1,463
0
28
0
28
1,347
1,347
0
26
0
26
1,156
1,156
0
25
0
25
1,186
1,186
0
23
0
23
976
976
0
21
0
21
841
841
0
19
0
19
864
864
0
17
0
17
777
777
0
15
0
15
817
817
0
37
1
36
73
37
56
59
39
59
54
52
43
49
45
673
581
92
658
607
51
681
611
70
702
646
56
643
598
45
652
617
35
648
554
94
394
369
25
564
528
36
516
488
28
588
549
39
622
585
37
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
Shipments, total
Domestic
Export
...
-
number
do
_.do-__-
741
674
67
r
Revised.
* Preliminary.
* Specification changed; earlier data not strictly comparable.
fRevised series. Beginning with data for 1951, the Bureau of the Census reports for woolen and worsted woven fabrics refer to goods which are principally wool by weight (i. e., exclude
fabrics containing 25-49.9 percent wool previously included).
*New series. Compiled by U. S. Department of Labor, Bureau of Labor Statistics. More complete specifications are: Worsted suiting, women's and children's gabardine, 10^i-12^oz./yd.
Monthly data for 1950 will be shown later.
t Data through December 1951 for total exports and trucks and busses exclude military-type exports not shown separately for security reasons; thereafter the figures, including those for
passenger cars, exclude all military-type exports.
§Not including railroad-owned private refrigerator cars.
•INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
Abrasive paper and cloth (coated)
38
Acids
24
Advertising
7, 8
Agricultural income and marketings
2
Agricultural wages, loans.
15
Aircraft
11,12,14,40
Airline operations
_
22
Alcohol, denatured and ethyl
24
Alcoholic beverages
2, 6,8, 27
Aluminum
.
33
Animal fats, greases
_._
_25
Anthracite
2, 5, 11, 13, 14, 15, 34
Apparel, wearing
3, 4, 5, 6, 8, 9,11, 12, 14,15, 38
Asphalt and asphalt products
36
Automobiles.2, 3, 7, 8, 9,11,12,13,14,18, 21
Balance of payments
20
Banking
,____,
15,16
Barley..
.
28
Barrels and drums
32
Battery shipments
34
Beei and veal
29
Beverages, alcoholic
2, 6,8, 27
Bituminous coal
. - _ _ . _ _ 2,11,13, 14, 15,34,35
Boilers
...
33,34
Bonds, issues, prices, sales, yields
19
Book publication
... 37
Brass
33
Brick
.
38
Brokers' loans
16,19
Building construction (see Construction).
Building contracts awarded..
6
Building costs
7
Building materials
.
7,8,9
Business, orders, sales, inventories
3,4
Businesses operating and business turn-over-.
4
Butter.......
27
Candy
-29
Cans, metal
„___
_
33
Capital
flotations...
18,19
Carloadings......
_ _ _ 22,23
Cattle and calves
29
Cement and concrete products
...
2,6,38
Cereal and bakery products, price
5
Chain-store sales (11 stores and over, only)...
9
Cheese
27
Chemicals—
2,3, 4, 5,12,14, 15, 18, 21, 24
Cigars and cigarettes
6, 30
Civil-service employees..
... 12
Clay products (see also Stone, clay, etc.)
2.38
Clothing,
---_ 5, 8, 9, 11, 12,14, 15, 38
Coal
2, 5, 11, 13, 14, 15, 34,35
Cocoa
.
__-_
-__
29
Coffee
...
- 22,29
Coke
2,35
Commercial and industrial failures
4
Construction:
Contracts awarded..
6
Costs
7
Dwelling units started
7
Employment, wage rates, earnings, hours.. 11,
12,13,14,15
Highway.
6,12
New construction, dollar value
6
Consumer credit
16
Consumer expenditures
_,
1,8
Consumers' price index
5
Copper
______
_ 21,33
Copra and coconut oil
25
Corn
._ 19,28
Cost-of-living index (see Consumers' price
index) _ ,
5
Cotton, raw, and manufactures
2, 5, 6, 21, 38, 39
Cottonseed, cake and meal, oil
25
Crops
_ _ _ „ . _ _ 2, 5, 25, 27, 28, 30, 38
Currency in circulation
18
Dairy products
Debits, bank
,__
Debt, short-term, consumer
Debt United States Government
Department stores
Deposits, bank
.
Disputes, industrial
Distilled spirits
Dividend payments and rates
Drug-store sales
.
Dwelling units started
— 2, 5, 14, 27
__
15
16
17
9, 10, 16
15,16,18
13
27
1,18, 20
8,9
.
7
Earnings, weekly and hourly
...
13,14,15
Eggs and poultry
___
2, 5, 29
Electric power
5, 26
Electrical machinery and equipment
3,4,5, 7,34
Employment estimates
10,11,12
Employment indexes
_,
12
Employment security operations
13
Emigration and immigration
23
Engineering construction
6
Expenditures, United States Government
16
Explosives
_
25
Exports (see also individual commodities)
21
Express operations
22
Factory employment, payrolls, hours, wages... 11,
12,13,14,15
Failures, industrial and commercial
4
Farm income and marketings.
2
Farm products, and farm prices.
2,5
Farm wages
15
Fats and oils
5,25,26
Federal Government,
finance
16,17
Federal Reserve banks, condition of
.
15,16
Federal Reserve reporting member banks
15,16
Fertilizers.. _.
5,24
Fiber products
34
Fire 1 osses .
,.
_
7
Pages marked S
Fish oils and
fish___._______._....
25,29
Flaxseed___
25
Flooring
31,32
Flour, wheat
...
28
Food products.
. _,
2,
3,4, 5, 7, 8, 9,11, 12, 14, 27, 28, 29, 30
Footwear.
2,5,8,9, 12,14, 15,31
Foreclosures, real estate
7
Foreign trade, indexes, shipping weight, value
by regions, countries, economic classes, and
commodity groups
_.
21,22
Foundry equipment _ _ _ „
34
Freight carloadings, cars, indexes
22, 23
Freight cars (equipment)._„_
40
Freight-car surplus and shortage
23
Fruits and vegetables
... 2, 5, 21, 27
Fuel oil..............._.__..._
35
Fuels...___„__
2,5,35
Furs
..
.
22
Furnaces
34
Furniture ..........
2,5,8,9,11,12,13,14
Gas, customers, prices, sales, revenues _ _. _.— 5, 26
Gasoline
.
. _ . 36
Glass and glassware (see also Stone, clay, etc.). 2,38
Generators and motors
34
Glycerin
.
24
Gold
_„„___„______.
.
18
Grains,.
_.„.
5, 19, 21, 28
Gross national product...
....
.
1
Gypsum and products
...__ 6, 38
Heating and ventilating equipment
6,33,34
Hides and skins..
5,22,30
Highways-__.-__
___.
.
_. 6,7
Hogs___
.......
---.___-_
29
Home Loan banks, loans outstanding
_
7
Home mortgages...... ..... .....
7
Hosiery
....
38
Hotels
— — 11,13,14,15,23
Hours of work per week
.
12,13
Housefurnishings....
5, 8, 9
Housing
......
._._...__ 5,6,7,8
Immigration and emigration..._______
...
23
Imports (see also individual commodities)
21,22
Income, personal
_ _ _ . ...—«
1
Income-tax receipts
___.
16
Incorporations, business, n e w _ _ _ _ _
_.
4
Industrial production indexes.__. , _ _ _
2,3
Instalment loans
...—
16
Instalment sales, department stores .,
10
Insulating materials
_ _, , _ _ _ _ _ _ _ _ ,
34
Insurance, life
,
.
_.
17,18
Interest and money r a t e s _ _ _ . _ _ _ _ _ _
16
International transactions of the U. S....__ 20, 21, 22
Inventories, manufacturers' and trade
3,9,10
Iron and steel, crude and manufactures
2,
6,14,21,32,33
Jewelry stores, sales, inventories..,..
8, 9
Kerosene.. _ _ „ _ _ _ . _ _ . _ _ . - _ . .
.. 35
Labor disputes, turn-over. _ . - _ _ _ - _ _
13
Labor force.
__,
10
Lamb and mutton.......
29
Lard.
.........
...
.
29
Lead
___.
.....
33
Leather and products,.-.
2,3,4, 5, 12, 14,30,31
Linseed oil.....
...........
.... ... 25
Livestock
...
..
2,5,29
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)_._.... 7, 15, 16, 17, 19
Locomotives
. . ..
.
40
Looms, woolen, activity
___,
39
Lubricants _ _ . _ _ _ _ . _ _
. _ _.
35
Lumber.................. 2, 5,11,12,13,14, 31, 32
Machine activity, cotton, wool.... .
39
Machine tools
__________
.....
34
Machinery. _ _ _ _ _ _ _ 2, 3, 4, 5, 11, 12,13, 14, 18, 21, 34
Magazine advertising- — _ _ _ _ _ _ _ _
._
8
Mail-order houses, sales___
________
10
Manufacturers' sales, inventories, orders _ _ _ _ _ 3,4
Manufacturing production indexes_.
2,3
Meats and meatpacking
.
2,5, 11, 12, 14, 29
Metals_.--___-- 2, 3, 4, 6,11, 12, 13, 14, 15, 18, 32, 33
Methanol...--_.
24
Milk
._
27
Minerals
2,3,13,14, 15
Money supply
.,
18
Mortgage loans..
7, 15,16
Motor f u e l _ _ _ _ _ _ _
...
36
Motor vehicles
3, 5, 8, 9, 40
Motors, electrical
.
,._.__.
34
National income and product
1
Newspaper advertising
,
.
.
8
Newsprint
,___
...
.
22,37
New York Stock Exchange.......
19,20
Oats
.
.
.
........ 28
Oil burners
34
Oils and fats__.._
.
5,25,26
Oleomargarine _
26
Operating businesses and business turn-over..
4
Orders, new and unfilled, manufacturers' ...
4
Paint and paint materials _ _ _ _ ,
,__ 5,26
Paper and pulp....
. 2,3, 6,11, 12, 14, 36, 37
Paper products
_
.. 2,3,4,36,37
Passports issued
,
23
Payrolls, indexes
12
Personal consumption expenditures
8
Personal income
, —.
1
Personal saving and disposable income...
1
Petroleum and products
2,
3, 4, 5, 11,12,13,14,15, 21, 22, 35,36
Pig iron
32
Plant and equipment expenditures .
1
Pages marked S
Plastics and resin materials, synthetic
26
Plywood
.
31
Population
__
10
Pork
29
Postal business..
8
Postal savings
16
Poultry and eggs
2, 5, 29
Prices (see also individual commodities):
Consumers' price index
5
Received and paid by farmers
5
Retail price indexes
5
Wholesale price indexes
5, 6
Printing
2,3,4,11,12,15,37
Profits, corporation..
1, 18
Public utilities...... 1, 5, 11,13,14, 15, 17, 18, 19, 20
Pullman Company
23
Pulpwood .
.
,__
36
Pumps
__,
34
Purchasing power of the dollar
6
Radio advertising, production
7,34
Railways, operations, equipment,financialstatistics, employment, wages
1,
11,12,13,14,15,17,18,19, 20, 22, 23,40
Railways, street (see Street railways, etc.).
Rayon and rayon manufactures
2, 6, 39
Real estate____.
.
.
7
Receipts, United States Government
16
Reconstruction Finance Corporation, loans
17
Refrigerators
,_ . ...
34
Rents (housing), index
5
Retail trade, all retail stores, chain stores (11
stores and over only), department stores,
general merchandise
.__
3,4, 8, 9,10
Rice
._
__
28
Roofing and siding, asphalt
36
Rosin and turpentine
24
Rubber, natural, synthetic, and reclaimed,
tires and tubes
22,37
Rubber industry, production index, sales, inventories, employment, payrolls, hours,
earnings
.___
2,3,4,12, 14, 15
Rural sales..
10
Rye._.
..
28
Saving, personal
.
1
Savings deposits..
.
16
Securities issued
18,19
Service industries
8, 11
Sewer pipe, clay
.
38
Sheep and lambs
29
Shipbuilding—
11, 12, 13, 14
Shoes
2,5,8,9,12,14,15,31
Shortenings
26
Silk, imports, prices
6, 22, 39
Silver
18
Skins......
__._
__
_ _ _ 5,22,30
Slaughtering and meatpacking
2,
11,12,14,29
Soybeans and soybean oil
25
Spindle activity, cotton, wool
39
Steel ingots and steel manufactures (see also
Iron and steel)
32,33
Steel, scrap
32
Stocks, department stores (see also Manufacturers' inventories)
,__
10
Stocks, dividends, issues, prices, sales, yields..
20
Stokers, mechanical
34
Stone, clay, and glass products
2,
3,11,12,13,14,38
Stoves
_.
34
Street railways and buses
___ 13,14,15,22
Sugar
_
_ 22,30
Sulfur
25
Sulfuric acid.
24
Superphosphate. ...
24
Tea
____„__
30
Telephone, telegraph, cable, and radio-telegraph carriers...-._______ 11, 13, 14, 15, 19, 20, 23
Textiles-,-....- 2, 3, 4, 6,11,12, 14, 15, 21, 38, 39, 40
Tile
...
_. 38
Tin
_.
22.33
Tires and inner tubes
6, 12, 14, 15,37
Tobacco. _ _ _ _ _ _ __ 2,3,4,5,6,7,8,11, 12,14,15,30
Tools, machine
34
Trade, retail and wholesale. 3,4,8.9.10.11,13,14,15
Transit lines, local
15,22
Transportation, commodity and passenger
22, 23
Transportation equipment..__ 2,3,4,11,12,13,14,40
Travel
23
Truck trailers...
_
_.
40
Trucks
40
Turpentine and rosin
24
Unemployment and unemployment compensation
10,13
United States Government bonds
17,18,19
United States Government,
finance
16,17
Utilities
1, 5,11,13,14,15,17,18,19, 20
Vacuum cleaners
34
Variety stores
.
9
Vegetable oils
25, 26
Vegetables and fruits
2,5,21,27
Vessels cleared in foreign trade
23
Veterans' unemployment allowances
13
Wages, factory and miscellaneous
... 13,14,15
Washers
34
Water heaters
34
Wax
_._
_
__
36
Wheat and wheat
flour
_
19, 28
Wholesale price indexes
5, 6
Wholesale trade
_
10
Wood pulp
36
Wool and wool manufactures
2, 6, 22,39, 40
Zinc.
33
or
MAJOR BUSINESS INDICATORS, 1947-52
1947
Item
1948
1949
1950
1951
19521
259.0
177.9
42.7
1.9
258.2
180.6
33.5
.5
284.2
194.3
50.3
—2.3
329.2
208.0
58.5
.2
346.1
216.3
51.8
.2
198.7
36.6
223.5
43.6
216.3
41.9
239.2
62.6
277.6
77.8
290.4
191.0
122.0
54.3
35.1
15.3
17.2
119.9
2.4
42.4
14.5
11.8
209.5
134.3
60.2
38.8
16.6
18.7
132.2
2.8
47.3
16.0
11.3
205.9
133.4
56.9
38.9
17.2
20.4
131.2
3.1
42.1
17.1
12.4
226.3
145.6
63.5
41.3
18.6
22.2
142.7
3.8
45.2
19.5
15.1
254.1
169.9
74.9
45.9
20.3
28.7
166.5
4.2
50.6
20.4
12.4
268.4
181.4
79.1
48. 5
21.3
32.4
177.9
4.5
52.5
21.1
12.7
2.1
170.8
2.2
187.1
2.2
188.7
2.9
208. 5
3.4
233.6
3.8
248.0
22,059
9,134
882
2,604
2,543
6,896
19,285
7,149
792
2,239
3,125
5,980
20, 605
7,491
707
2,323
3,309
6,775
26, 332
11,130
911
2,966
3,855
7,470
26,860
12, 452
850
2,792
3,961
6,804
National Income and Product
Gross national product, total (bil. of dol.) . 233.3
Personal consumption expenditures
165.6
30.2
Gross private domestic investment
Net foreign investment
8.9
Government purchases of goods and
services
28.6
Personal Income
Total (bil of dol )
Wage and salary disbursements, totalL .
Commodity-producing industries..
Distributive industries
._
Service industries.
Government
Wage and salary receipts, total
Other labor income
_--.
Proprietors' and rental income
Personal interest income and dividends.
Transfer payments
Less personal contributions for social
insurance
Total nonagricultural income (bil. of dol.).
New Plant and Equipment Expenditures
Al! industries total (mil of dol )
20,612
8, 703
691
2,817
1,539
7,492
Mining
Railroads and other transportation
Public utilities.
Commercial and other
Production
Farm marketings, physical relume, total.
(1 935-39 « 100)
Crops
Livestock
_.
Industrial production, total (1935-35=100).
192
198
187
194
144
139
147
200
209
237
187
148
151
158
145
176
183
202
168
135
147
138
153
220
229
273
194
164
155
151
158
219
230
280
189
160
1,974
1,857
2,020
1,842
84,894
88,640
77, 978
4,798
3,558
1,240
5,285
3,909
1,376
6,254
5,119
1,134
8,003
6,666
1,337
6,765
5,338
1,427
5,539
4,321
1,218
397,877
191,009
77, 618
113,391
87, 263
24, 428
62, 835
119.604
36, 652
82, 952
437,251
211,560
91, 133
120, 427
95, 172
27, 431
67, 741
130, 521
41, 876
88,645
415,970
196, 997
84,834
112,163
88, 252
24, 695
63, 557
130, 721
43,882
86, 839
473, 101
231,746
106, 356
125, 390
97, 666
31, 103
66,563
143, 689
52, 935
90,754
533, 440
268,014
126, 659
141,355
107, 203
34, 446
72, 757
158,223
54, 479
103, 744
546. 517
276, 460
132, 839
143.C,21
106,074
32,940
73, 134
163,983
55, 164
108, 819
187,464 208,211 190, 836 251, 598 293, 172
30,296 26,946 20, 785 40,638 65, 795
282, 192
71,527
2,245
2 2, 086
96,836 105, 200
93, 156
Electric power, industrial and utility
(mil. of kw-hr.)_
307, 400 336, 809 345,066 3388, 674 433, 358 462, 589
Lumber (mil. of board feet)
35, 404 36, 631 332,176 38,007 '36,748
37,300
Steel ingots and steel for castings
Business Sales and Orders
Manufacturing, total
Durable-goods industries..
Wholesale trade, total
Durable-goods establishments
Nondurable-goods establishments
Retail trade total $
Durable-goods stores. __
Nondurable-goods stores..
Manufacturers' orders (mil. of dol.) :
Unfilled, end of year, unadjusted
1948
1949
1950
1951
1952 »
Business Inventories
225
Durable manufactures
220
177
172
Nondurable manufactures
155
Minerals __ .
_.
149
Selected commodities, production:
Coal, bituminous (thous. of short tons) . 630, 624 599, 518 437, 868 516,311 533, 665 465, 230
Motor vehicles, factory sales, total
(thous.)
Passenger cars
Trucks and coaches
1947
Item
Business inventories, book value, end of
year, unadjusted, total (mil. of dol.) §_
Manufacturing, total
Durable-goods industries..
Nondurable-goods industries
Wholesale trade, total..
Durable-goods establishments...
Nondurable-goods establishments
Retail trade, total §.
Durable-goods stores
N ondurable-goods stores
.
Prices
Prices received by farmers (1910-14=100).
Wholesale prices (1947-49=100):
All commodities, combined index ......
Foods processed
All other
50,017 54,954 51, 521 61, 518
29, 032 31, 782 29,038 34, 176
13, 804 15, 726 13,956 16,660
15, 228 16, 056 15, 082 17, 516
7,613
7,982 7,913
9,561
3,094 3,563 3,531 4,279
4,519 4,419
4,382 5,282
13, 372 15,190 14, 570 17, 781
5,341 6,587 6,293 7,981
8,031
8,603 8,277 9,800
72, 736
43, 056
22,650
20,406
10,150
4,904
5, 246
19,530
9,200
10, 330
73,482
43, 670
23, 930
19,740
10,023
4,878
5,145
19, 789
9,047
10, 742
275
159.6
285
171.9
249
170.2
256
171.9
302
185.6
288
189.8
96.4
100.0
98.2
95.3
104.4
107.3
106.1
103.4
99.2
92.8
95.7
101.3
103.1
97.5
99.8
105.0
114.8
113.4
111.4
115.9
111.6
107.1
108.8
113.2
Construction
New construction, total (mil. of dol.)
16,689 21, 678 22, 789 28, 749 30, 893
Private total
13,256 16, 853 16, 384 21, 610 21,684
Residential (nonfarm)
6,310
8,580 8,267 12,600 10, 973
Nonresidential, except farm and
public utility
3,142 3,621 3,228 3,777 5,152
Public, total
3,433 4,825 6,405 7,139 9,209
N onresidential building.
...
599 1, 301 2,068 2,402 3,471
Employment Status of the Civilian Noninstitutional Population
Total 14 years of age and over, monthly
average (thous. of persons)
106,018 107, 175 108,156
Civilian labor force.
60,168 61, 442 62, 105
Employed, total
58,027 59,378 58,710
Agricultural employment
8,266 7,973 8,026
Nonagricultural employment
49, 761 51, 405 50,684
Unemployed
2,142 2,064 3,395
Not in labor force
45,850 45, 733 46,051
109,280
63,099
59, 957
7,507
52,450
3,142
46,181
32,329
21, 785
11, 101
4,950
10, 544
4,061
108, 976
62,884
61,005
7,054
53,951
1,879
46,092
109, 676
62,968
61, fc
6, 80</
54,488
1,C73
48, 710
Employment and Payrolls
Employees in nonagricultural establishments, mo. avg., total (thous.) _ 43, 371 44,201 43,006 44, 124 46, 401
Manufacturing
15,247 15, 286 14,146 14,884 15,931
Mining
904
943
981
932
920
Contract construction
1,982 2,165 2,156 2,318 2,569
Transportation and public utilities— 4,122 4,151 3,979 4,010
4,144
Trade
9,196 9,491 9,438 9,524 9,804
Finance
.
..
_ . . 1,641 1,716 1,763 1,812 1,883
Service
4,786 4,799 4,782 4,761 4,759
Government
5,454 5,613 5,811 5,910 6,390
Manufacturing production-worker payroll index (1947-49=100)
97.2 111.2 129.2
97.7 105.1
46,865
15, 985
875
2,546
4,168
9,943
1,961
4,761
6,628
Finance
Money supply, Dec. 31 (mil. of dol.):
Currency in circulation
_
28,868
Deposits (adjusted) and currency, total- 170,008
Demand deposits adjusted
87, 121
Time deposits
56,411
Federal finance (mil. of dol.):
Debt cross Dec 31
256,900
Budget receipts and expenditures:
Receipts, net
_
41,010
Income and employment taxes
31, 512
Expenditures total
38,576
National defense and related activities
14,541
28,224 27,600 27, 741
169, 119 169, 781 176, 917
85,520 85, 750 92, 272
57, 520 58,616 59, 247
134.2
29,206
185, 984
98,234
61,447
30,433
194,500
101, 100
65,800
252,800 257, 130 256,708 259, 419
267,391
41,450
33,630
36,209
38,122
32, 116
41, 714
37,834
31,906
38,255
53,488
47, 212
56,846
65, 523
58,734
71,366
11,201
12,848
13,506
30,308
43, 228
* Data for most items are preliminary.
2 Total for 11 months, January-November.
3 Data from U. S. Department of Commerce, Bureau of the Census.
$ New series of retail
trade included beginning 1951. Data for 1951 on old basis and comparable with earlier figures are as follows (mil. of dol.): Sales—total business, 528,192; total re tail, 152,975; durable, 53,170
nondurable, 99,805; inventories—total business, 71,925; totalretail, 18,719; durable, 8,625; nondurable, 10,094.
UNITED STATES
GOVERNMENT PRINTING OFFICE
DIVISION OF PUBLIC DOCUMENTS
WASHINGTON 25, D. C.
OFFICIAL BUSINESS
First Class
PENALTY FOR PRIVATE USE TO AVOID
PAYMENT OF POSTAGE, J300
(GPO)
@FedFRASER