Full text of Survey of Current Business : February 1955
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FEBRUARY
U. S. DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
1955
SURVEY
OF
CURRENT
BUSINESS
No. 2
FEBRUARY 1955
DEPARTMENT OF COMMERCE
FIELD SERVICE
Albuquerque, N. Mex.
208 U. S. Courthouse
I-o* Angeles 15, Calif.
1031 S. Broadway
Atlanta 5, Ga.
50 Seventh St. NE.
Memphis 3, Tenn.
229 Federal Bldg.
Boston 9, Mass.
U.S. Post Office and
Courthouse BIdg.
Miami 32, Fla.
300 NE. First Ave.
Buffalo 3, N. Y.
117 Ellicott St.
THE BUSINESS SITUATION
THROUGHOUT 1954
NATIONAL INCOME AND PRODUCT IN 1954..
Consumer Demand
Investment Demand
Government Demand
National Income by Industries
Types of Income
PRODUCTION AND TRADE....
Agricultural Production
New Construction
Retail Trade
FOREIGN BUSINESS
*
PAGE
Charleston 4, S. C.
Area 2,
Sergeant Jag}>er BIdg.
1
Cheyenne, Wyo.
307 Federal Office BIdg.
New York 17, N. Y.
110 E. 45th St.
Philadelphia 7, Pa.
1015 Chestnut St.
Chicago 6, 111.
226 W. Jackson Blvd.
17
19
21
. . 23
Dallas 2, Tex.
1114 Commerce St.
Keno, Nev.
1479 Welle Aye.
Denver 2, Colo.
142 New Customhouse
Richmond 20, Va.
900 N. Lomhardy St.
Detroit 26, Mich.
230 W. Fort St.
St. Louis 1, Mo.
1114 Market St.
El Paso, Tex.
Chamher of Commerce
Bldg.
Salt Lake City 1, Utah
222 SW. Temple St.
Houston 2, Tex.
130 Lainar Ave.
•San Francisco 11, Calif.
555 Battery St.
Jacksonville 1, Fla.
311 W. Monroe St.
.Savannah, Ga.
125-29 Bull St.
Kansas City 6, Mo.
911 Walnut St.
.Seattle 4, Wash.
909 First Ave.
*
MONTHLY BUSINESS STATISTICS... .S-l to S-40
New or Revised Statistical Series
28
Statistical Index
Inside back cover
Published by the U. S. Department of Commerce, SINCLAIR WEEKS,
Secretary. Office of Business Economics, M. JOSEPH MEEHAN, Director.
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New Orleans 12, La.
333 St. Charles Ave.
7
9
9
12
13
15
26
*
Minneapolis 2, Minn.
607 Marquelte Ave.
Cincinnati 2, Ohio
442 U. S. Post Office
and Courthouse
Cleveland 14, Ohio
1100 Chester Ave.
Phoenix, Ariz.
137 N. Second Ave.
Pittsburgh 22, Pa.
107 Sixth St.
1'or(land 4, Oreg.
520 SW. Morrison St.
For local telephone listing, consult section
devoted to U. S. Government
FEBRUARY 1955
The Business Situation
throughout 1954
BUSINESS expansion resumed during the latter part of
)54. Early last year the falling activity of late 1953 gave
ay to a period of stability which extended through the
lird quarter. In the autumn production and sales turned
pward.
The moderation and brevity of the business decline were
ssociated with the fact that, as in earlier postwar periods
hen downswings occurred in some activities, important
ranches of the economy continued to expand, and no
eneral curtailment in consumer buying set in. The year's
evelopments were also importantly influenced by the condence in the future evidenced by consumers and investors,
ae near-absence of speculative commodity price fluctuaions, governmental economic policies, and the programs
esigned to stabilize the flow of consumer income which have
een gradually incorporated into the economic framework.
Aside from the course of business as a whole, the reduction
f defense spending to a level near which it was scheduled to
emain for some time was perhaps the outstanding economic
levelopment of the year. From 6 percent of the gross
lational product in the first half of 1950, national security
>urchases had risen to nearly 15 percent in the second
quarter of 1953; by the last quarter of 1954 they had been
rut back to 11 percent.
Extent of recovery
The size of the decline in production and the extent of the
fear-end recovery are indicated by the movements of gross
lational product and industrial production, both seasonally
idjusted. In the first 9 months of 1954 the value of total
output averaged 4 percent below the record second quarter
}f 1953 while industrial production, the segment most affected, was 10 percent lower. In the fourth quarter each
regained about two-fifths of the previous reduction; in
December alone, industrial output was half-way back to its
previous peak. Nonagricultural employment, too, moved
up in the fourth quarter, but the 1 percent gain was more
moderate in relation to the previous reduction of 4 percent.
The substantial magnitude of the fourth quarter advance
in production was in part the result of developments associated with the timing and depth of the automobile industry's
conversion to the new-model year, and of a reduction in the
rate of inventory liquidation, which lifted the Nation's production close to the rate of final sales. However, the ground.. ork for an advance had been laid in the preceding period
of stability in aggregate output, when broad segments of
demand were gathering strength within a stable total and
holdings of excessive business inventories were being worked
off.
328930°—55
1
The downward adjustment in 1953 had been partial and
limited rather than of general scope. Originating primarily
in two partly related developments—the pronounced downtrend in defense expenditures following the truce in Korea,
and the shift from inventor}^ accumulation by business to
inventory reduction—the adjustment was also largely
confined to these segments of demand. But small reductions
had also taken place during the latter part of 1953 in consumer spending for durable goods, in residential construction,
and in the plant and equipment expenditures of business.
With other major types of expenditure gradually rising
throughout the past year and a half, the course of this group
of components during 1954 was of particular importance in
dating the end of the downswing and the beginning of the
advance in total production.
Reduction of military purchases
Among these, national security purchases moved steadily
downward throughout the period, with the total reduction
from the peak amounting by the fourth quarter of 1954 to
$14 billion at annual rates, or one-fourth. They represented
the major contracting element in total demand all during
1954. Placement of new defense contracts picked up from
the earlier trough during the course of the year, however,
and budget data indicated that the sharp downtrend of
defense expenditures would not continue in 1955.
Business expenditures for plant and equipment were also
reduced continuously after the third quarter of 1953, but the
amount was moderate. Expansion in the large commercial
sector partially offset reductions occurring elsewhere, including those resulting from the rapid progress toward
attainment of mobilization goals for defense-supporting industries. Maintenance of business fixed investment at a
high, though declining, rate despite a rather sharp reduction
in before-tax earnings and a moderate curtailment of profits
after tax, and in particular the absence of appreciable cutbacks in previous plans as the year developed, were important
in limiting the magnitude of the business adjustment.
The other types of expenditures which in greater or lesser
degree shared in the decline of late 1953 traced quite different
courses last year. Consumer purchases of durable goods,
after their initial drop, stabilized in the first quarter and
thereafter moved gradually upward. Late in the year the
advance became more substantial as new-model cars were
sold in unusual volume in November and December, following a temporary dip in the months of the changeover period.
Residential construction followed a rather similar course,
but with a very sharp rate of advance after the first quarter.
From the first to the fourth quarters the annual rate, season-
SURVEY OF CURRENT BUSINESS
ally adjusted, at which work was put in place increased by
$3 billion, or one-fourth. The strong advance in residential
construction, stimulated in part by the further easing of
credit terms, offset reductions elsewhere in the economy
during the period of aggregate business stability, and contributed to the fourth quarter upturn.
Adjustment of inventories
Major changes in the rate of inventory investment corresponded rather closely with those in the trend of gross
national product. The rate of accumulation was cut in
the summer of 1953 and gave way to substantial liquidation
in the fourth quarter. Thereafter, liquidation continued
at about the same rate until the fourth quarter of 1954,
when it was sharpty reduced. The rate of inventory
accumulation in the first half of 1953 had been too high to
be long sustained, and to this extent the inception of the
inventory adjustment later that year may be construed
as largely independent of other contemporary developments.
However, the steady drop in defense expenditures and the
smaller decline in purchases of producers' durables, which
were accompanied by a sharp reduction in new orders for
future work received by manufacturers, were of great
importance in accentuating and extending the liquidation.
The gradual working off of excessive stocks and the
renewed placement of defense contracts and approaching
end of the sharp slide in defense spending were important
in diminishing the liquidation, while motor vehicle production
schedules were such as to sharpen the reversal between the
third and fourth quarters. Throughout the period the
stability of most prices was important in minimizing the
speculative element which in the past has often widened
i nventory swings.
Other segments of demand, comprising more than threefifths of the gross national product, moved generally upward
throughout the period of adjustment. State and local governments were under pressure to build and staff new schools
and to expand other facilities and services to cope with
enlarged requirements. They steadily increased their purchases, maintaining the $2 billion a year average advance
characteristic of the postwar period to date. With output
rising in most foreign countries United States exports of
goods and services, excluding military transfers, increased
while imports were lower, so that foreign transactions also
served as a stabilizing influence on the domestic economy.
Expansion of consumer market
But the largest element in limiting the business decline
and paving the way for the renewed advance was the steadily
growing consumer market for nondurable goods and services.
By the last quarter of 1954 the annual rate of such expenditures \vas $7 billion, or 3/2 percent, above the second quarter
of 1953, when the national product was at its peak. Their
strength—and that of personal consumption expenditures
as a whole—was based mainly upon the large and rising
flow of disposable personal income, although there was also
a small rise in the ratio of expenditures to income.
The advance of disposable income at a time when earnings
from current production, as measured by the national income, were reduced, was of strategic importance. It not
merely eliminated the basis for a downward spiral of income
and consumption, but it made of consumption an expansionary and income-stimulating force when investment and
Federal Government spending were curtailed.
Three developments produced this result. First, and most
February 1!
importantly, corporate earnings before tax absorbed the r
jor share of the reduction in national income, while corpor
dividend payments to individuals were increased. This \
possible because the share of profits paid out as dividei
previously, and indeed throughout the postwar period, 1:
been low; because of the elimination of the excess profits t;
and because the swing in the inventory movement reduced 1
need for additional corporate funds. Expressed at ami
rates, undistributed corporate earnings and corporate pro!
tax liability absorbed about $8 billion of the $9 billion drop
national income from the peak second quarter of 1953 to t
third quarter of 1954. Second, Government transfer pr
ments (chiefly unemployment insurance benefits) and Gc
ernment interest payments together increased by about $:
billion in the same period. Third, personal taxes were i
duced by $3 billion, offset in part by an increase of less th
$1 billion in contributions for social insurance.
Both the automatic workings of the economy, as express
in the pattern of changes in undistributed profits, tax liabi
ties, and unemployment benefits which accompanied the flu
tuation in business, and the specific actions taken by the Fe
era! Government to reduce personal and corporation tax
were thus of importance in producing the rising trend in d
posable income.
Production income itself, moreover, was supported to i
important extent by both "automatic" programs and policit
specifically adopted for that purpose which are not reflectc
in this comparison. The sizable farm price support activ
ties, liberalization of credit policies, and the $1 billion-a-yei
excise tax reductions were among them. In all, changes
Federal tax rates and other tax provisions estimated to sa^\
taxpayers $7% billion a year went into effect during 195
although not all of these were applicable throughout tl
year.
In the fourth quarter, disposable income rose appreciabl
as gains occurred in payrolls, dividends, and transfer pa]
ments.
Year as a whole
For 1954 as a whole the gross national product to tale
$357 billion—2 percent less than the value of the recor
output of 1953. Measured in constant prices, in order t
eliminate the effect upon these values of price fluctuations
output in 1954 was 3 percent below 1953, 1 percent abov
1952, and well above any earlier year. The decline from 195
to 1954 was almost wholly in Federal purchases of goods an<
services and in inventory investment. Investment in fixe<
assets was only slightly curtailed as the rise in new con
struction largely offset lowered purchases of producers
durable equipment. Hence the expansion and moderniza
tion of the Nation's stock of buildings and equipment con
tinned close to the rate of previous years.
Consumer expenditures, measured in constant prices, weri
fractionally above 1953 last year, and 4 percent above 1952
while the population was increasing something under 1
percent a year. On a per capita basis, therefore, the volurm
of purchases in 1954 apparently was slightly below 1953 bu
slightly above 1952.
The number of persons employed in 1954, inclusive of th<
armed forces, averaged below 1953 by more than a million
As a result of the employment reduction and the increase ii
the size of the labor force, average unemployment rose fron
1.6 million to 3.2 million.
The character of the shifts in demand for final productspart icularly the cuts in defense spending and purchases oi
producers' durable goods, and the inventory swing—were
T R E N D S IN B U S I N E S S
GROSS NATIONAL PRODUCT
450
ANNUAL RATES
400
300
250
18
ANNUAL RATES
350
16
300
14
250
1^ I
1
i
I
i
1952
l l
1953
2 0 0 Ui 1 1 1 1 1
1952
1954
1953
1954
10 LXJ n 1 1 1 1 1 1 1 1 1 1 m I M, M i i t M n 1 m
1952
1953
1954
NEW PLANT & EQUIPMENT
EXPENDITURES *
NEW RESIDENTIAL
CONSTRUCTION*
NATIONAL SECURITY
PURCHASES*
75
RETAIL SALES*
PERSONAL INCOME*
400
2.0
ANNUAL RATES
0
35
PRIVATE NONFARM
B.D.S.A. a B . L . S .
30
1.5
20 -
30
\
\
1952
\
\
\
\
\
1953
\
\
15 U
{952
1954
1953
1952
1954
MANUFACTURING & TRADE
INVENTORIES *
INDUSTRIAL PRODUCTION
90
140
80
30
120
70
"
100
60
20
ili
1953
1952
1954
NONAGRICULTURAL
EMPLOYMENT *
1953
JLL.iJJ 1 I . I ( M J t 1 I I 1 1 1 t t I I I I 1 1 I 1 I I I I
1954
1952
120
800
'" US
600
48
i
!* HO
400
44
•S
200
|
1952
* Monthly or quarterly totals, seasonally
1954
adjusted
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS-
105
.I
100
l,
1953
J952
1953
1953
1954
MOTOR VEHICLE
FACTORY SALES
CONSUMER PRICES
56
1954
35
BOOK VALUE,
END OF MONTH
80
1952
1953
MANUFACTURERS'
NEW ORDERS*
160
40
ANNUAL RATES
O.B.E. a S.E.C.
1954
0 IMM.I.
1952
1953
1954
SURVEY OF CURRENT BUSINESS
such that the employment reductions were concentrated in
the manufacturing, mining and transportation industries.
Employment in establishments manufacturing durable goods,
in particular, was cut sharply and working hours were shortened; as a result there was a rather substantial reduction of
payrolls in a number of durable goods manufacturing centers,
while other areas were relatively little affected. In addition,
the average number in the armed forces was reduced by
200,000 and agricultural employment extended its long-term
decline.
The industrial divisions of the economy which experienced
reductions in total income earned in production were the
same as those in which employment was lowered. For the
most part, the 1954 reductions followed gains in 1953; in
durable goods manufacturing, especially, the 1953 advance
had been pronounced. In agriculture, on the other hand,
the moderate 1954 reduction followed 2 years of more
substantial contraction, resulting in the main from the
downtrend in farm prices. Increases in income occurred in
1954 in the service and distributive industries (except transportation), in the utilities, and in contract construction.
Financial developments
Financial developments both reflected and contributed to
the elements of strength in the economy in 1954. A buoyant
stock market indicated the confidence of the investing public
in the future. Generally easy money conditions facilitated
business financing and were of particular moment in shaping
the upward course of residential construction.
The price of common stocks, as measured by the Securities
and Exchange Commission composite index, rose almost 40
percent between December 1953 and December 1954. Shares
of durable goods manufacturers, which increased by 55 percent, led the rise. With corporate profits after taxes moderately below 1953, the rise in stock prices was fully reflected
in earnings-price ratios, which were reduced to the lowest
point in the postwar period. Dividend payments advanced
over the year, but the stock price advance was sufficient to
reduce sharply dividend yields (dividends per share divided
by stock prices) as well.
Credit ease was most apparent in short-term money markets. Yields on 3-month Treasury bills fell from a high of
2.2 percent in June 1953 to less than .7 percent 12 months
later. Though these yields trended upward thereafter, for
the year as a whole the bill rate averaged almost 1 percentage
point below the 1953 yield of 1.9 percent. Long-term interest
rates were reduced less—the average yield on the 3% percent
Treasury bond of 1978-1983 was 2.7 percent, compared with
3.2 percent in 1953.
The general ease in loan markets reflected the combined
impact of reduced business and consumer demand for new
short-term funds, the sustained flow of funds into the capital
markets, and actions by Federal monetary authorities.
The reduced demand by business for short-term capital
was mainly a reflection of the shift in inventory trends in
1953 and 1954. In the former year the book value of manufacturing and trade inventories increased by $4 billion; last
year the reduction in book value amounted to $3K billion.
Consumers too reduced their demand for short-term credit
in 1954, principally because fewer new cars were purchased.
New installment loans amounted to $29.3 billion, about $1
billion less than in the preceding year. Repayments of
existing loans remained near the peak reached in late 1953
and for the year as a whole totaled almost $29 billion, or $2
billion more than in 1953. The small net increase in install-
February 19.~»
ment debt outstanding in 1954 compares with a rise of $3.
billion in 1953. The net liquidation of short-term consume
debt which was evident in the early months of 1954 halte
by mid-year, and in the last quarter consumers added aboi
$% billion to their outstanding installment debt.
Market for long-term funds
Demand for long-term funds, on the other hand, remain e
high in 1954. While business spending for plant and equif
ment was off moderately, individuals stepped up their d(
mand for mortgage loans. This was coupled with recor
requirements of State and local government units for cor
struction funds.
Business firms encountered little difficulty in financin
capital requirements. Retained earnings were down fror
1953 to 1954 but this drop was largely offset by higher depre
ciation allowances; these combined funds from operatioD
supplied an increased proportion of the lower 1954 total c
capital requirements.
Flow of Personal Income
Before and After Taxes
BILLIONS OF DOLLARS
400
PERSONAL
INCOME
300
\
\
200
DISPOSABLE
INCOME
100
i
i
I960
i
I
i
i
1951
t
!952
1953
1954
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
55-7-7
Individuals added nearly $20 billion to their liquid asset*
last year, about the same amount as in 1953. Acquisition!
of securities were smaller, while holdings of bank deposits
life insurance, and shares in savings and loan associations
increased by $16 billion as compared with $13 billion in 195?
These new funds were increasingly channeled by financial institutions into real estate markets in 1954, on terms mon
favorable to the borrower than in other recent years. In par-
pbruary 1955
SURVEY OF CURRENT BUSINESS
cular, federally underwritten mortgage lending was inreased and new legislation passed in 1954 permitted liberalnation of credit terms through lowering of downpayments
nd lengthening of maturities. With the expanded rate of
ousing activity total mortgage debt on 1- to 4-family houses
^as increased by almost $9 billion, about $1 billion more
hail the increase in 1953.
Federal Reserve Bank authorities assisted in a variety of
rays in achieving monetary ease. Early in the year disount rates to member banks were reduced from 2 percent
o 1/2 percent. During the summer months member bank
eserve requirements at the Federal Reserve were lowered by
Lpproximately $1% billion, thus tending to add to the lending
)otential of the banking system. Open market operations—
nirchases and sales of U. S. Government securities by the
federal Reserve Banks—were used to smooth the accessibility of reserves to banks as seasonal requirements clenanded. During the year the U. S. Treasury also aided the
3olicy of relative ease in money markets by raising new
:unds principally through issues of short or intermediate
maturities, thus avoiding direct competition with borrowers
if long-term funds.
Developments at year-end were influencing favorably the
financial positions of business and individuals. Profitability
of business appeared to be recovering, and consumer income
and saving were high. While the indebtedness of private
sectors of the economy continued to expand, accumulated
financial resources were also rising, and there had been some
overall improvement in the liquidity positions of individuals
and business during the year.
adjusted more closely to demand, industrial price changes
were generally smaller than those of farm products, and particularly of livestock and livestock products, which weakened
under heavy marketings. Scarce supplies resulting in part
from short crops abroad in the cases of coffee, tea, and cocoa,
and from prolonged work stoppages in the cases of copper
and lumber, lifted prices for these commodities, although
much of the sharp rise in the former group had been lost by
the end of the year.
Employees in Nonagricultural
Establishments
MILLIONS
60
50
40
IMONMANUFACTURING
Consumer prices stable
The monthly index of, consumer prices moved within a
range of less than 1 point during most of 1953 and all of
1954, averaging fractionally higher for the year as a whole.
Perhaps the most distinctive price characteristic of consumer
markets was the contrast between the persistent if gradual
uptrend of services and the slight downdrift of consumer
goods.
Food prices in city stores were about the same on the
average in 1954 as in 1953. During the last half of the
year, however, they were moving downward. At year-end
meats, poultry, fish and other livestock products sold at
lower prices than in 1953, and most other foods had also
edged down. Exceptions were cereal products and certain
other crop products. Apparel, solid fuels and fuel oil,
housefurnishings, transportation, and reading-recreation
prices were shaved somewhat during the year.
Higher prices of services and utilities in many cases represented in part lagging adjustments to increased costs.
Gas and electricity prices, largely controlled by public authorities, and residential rents, which in many areas remained
subject to wartime controls until 1953, were among those
which were higher in 1954.
Wholesale price trends
The wholesale price index was also unusually stable during
1954, but economic adjustments during the period w^ere
reflected to some extent in movements of component groups.
The curtailment of activity showed up in minor concessions
in wholesale prices of nonagricultural products early in the
year, while the later industrial upturn was accompanied by
a slight firming of such prices. Since industrial output was
20
10
0
I960
1951
1952
1953
1954
QUARTERLY AVERAGES,SEASONALLY ADJUSTED
DATA: F. R.B
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
55-7-4
The divergence between agricultural and nonagricultural
wholesale prices was increasingly marked in the latter part
of the year when nonagricultural products edged higher while
quotations of farm products eased off. Factors underlying
the trend of prices received by farmers are analyzed in the
agricultural section of this issue.
Raw foods were noticeably weaker than processed foods
and beverages. At the year-end the latter were virtually
unchanged from December 1953 while raw foods were down
about 6 percent, owing largely to the drop in livestock and
livestock products.
Raw agricultural nonfoods were slightly higher on the
average. This group consists largely of inedible crops
including cotton and tobacco, which were under price support, and natural crude rubber, which rose sharply from the
previous year. Manufactured agricultural nonfoods, how-
SURVEY OF CURRENT BUSINESS
6
ever, closed the year 2 percent lower than in December 1953,
due largely to somewhat reduced quotations for textile
products and leather.
For the year, prices of raw or semimanufactured agricultural materials as a group averaged below any year since
1949, and in December were also below their 1949 average.
Prices of nonagricultural products
Prices of raw industrial materials weakened noticeably
during the first part of the year, when curtailment of manufacturers' inventories of purchased materials was prevalent,
and strengthened in the latter months when stocks of materials on hand had been brought into better balance with
their consumption. Price changes were generally small,
however. Finished manufactured goods experienced even
less price decline than the raw materials during the first half
of the year. In December both groups had risen fractionally
above December 1953.
Table 1.—All Wholesale Prices and Selected Components
|
Index numbers, 1947-49 = 100
I Decem- Pecem- , 1954 ;
her
j Annual
!
her
All wholesale prices
! 109.6; 110. ll 110. 3j 109.5 100.2
All raw or semimanufactured 1
materials
| 105. 5 103. 0 103. 4 100. 9 98. 8
All manufactures
| 111 1 112 8 112 9 112 8 100 7
Agricultural products
Raw or semimanufactured
Foods _ _ _
Nonfoods
Manufactured
Foods and beverages
Nonfoods
Nonagricultural products
Raw or semimanufactured
Chemicals
Forest products
Mineral fuels
Metals
Manufactured
Chemicals
Forest products
Mineral fuels, electricity
Metals
Nonmetallic minerals _ . _
102. 4
99. 8 100. 8
98.3 93. 1 94.
98. 6 93. 1 94.
97. 0 93. <?, 95.
104 9 104 0 104.
105. 1 105. 4 106.
104. 6 101. ? 100.
4
2
97. 7
99.9
89. 0
87. 6
98. 5
98. 1
100. 1
100 7
101. 1
99. 4
0 94. 7
7 103 1
7 105. 2
7 98. Q
114.6 117. 7 116. 9 117. 6 100.4
114. 6
1 10. 5
1 17. 3
111. 5
1 19. 9
114.5
101. 2
1 1 7. 5
104. 9
121. 4
118. 0
1 1 5.4
114. 8
114. 4
113. 8
117. 5
117. 6
102. ?,
119. 0
109. 6
125. 3
124. c\
Source: U. S. Department of Labor, Bureiu of Lab or Stati
of Business Economics, II. S. Department of Commer ce .
114. 7
114. 0
115. 2
110. ?,
118. 4
117. 5
103. 0
118. 3
107. 0
125. 6
125. 0
115.
113.
117.
109.
121.
118.
103.
117.
106.
126.
126.
98 9
9 100. 0
3 98. 5
4 98. 0
8 98. 2
1 100. 9
8 101. 4
3 100 0
9 99. 3
6 101. 5
2 102. 7
8
cs data i\ arrange d by (Juice
Among major commodity groups, the mineral fuels registered the largest decline—about 4 percent for raw and semimanufactured products and 3 percent for manufactures.
Both coal and crude petroleum moved lower among the raw
fuels, while among the manufactures lower prices of gasoline
more than offset higher quotations for natural gas, fuel oil,
and electricity.
February 11
Raw forest products showed an increase for the year as
result of the appreciable jump in lumber prices, but man
factures closed down a little owing to lower prices of mi
work and plywood and of various paper and paperboa
products. Chemicals showed only small changes with tho
in crude or semimanufactured form easing nominally whi
the manufactured products edged upward.
Metallic and nonmetallic mineral products exhibited tl
strongest price trend during 1954. Steel prices advanced
little at mid-year. Steel scrap rose sharply with the end i
inventory liquidation, while the raw nonferrous metals ro
under the influence of work stoppages and increased pu
chases for the Government stockpile. Prices of metal mam
factures moved gradually upward under the leadership <
machinery and motive products. Manufactured nonmetall
structural minerals registered higher prices as most glas
concrete, structural clay, gypsum, asphalt and asbestc
products participated in a general, though modest, advaru
which was associated with the high level of constructio
activity.
No clear-cut general change in producers' costs was ev
dent. Wage rates in manufacturing industries as represente
by average straight-time hourly earnings of productio
workers were nearly 3 percent higher in 1954 than in 195£
but less overtime was worked. Equipment continued t
be modernized but gains in efficiency were partially neutral
izecl by operations substantially below capacity in importan
industries. There was no general change in freight rates
Producers' fuel costs changed variously; coal prices average<
6 percent lower while gas, fuel oil, and electricity moved up
respectively, about 1, 4, and 3 percent. Prices of raw an<
semimanufactured materials entering into finished product;
moved divergently but taken collectively averaged 1 percen
lower than in 1953.
Activity higher in early 1955
As a result of the pronounced fourth-quarter advance, the
current year has opened with production well above the
average rate of 1954. The size of the recovery had been clue
in part to the timing of automobile production schedules,
and certain branches of the economy had not shared in the
rise. The scope of the advance in business above 1954
averages, as indicated by sales of retailers, wholesalers,
and manufacturers, was nevertheless rather broad and most
segments of the economy participated, while the gain in
consumer income, and apparently also the recovery in business profits, was appreciable.
In January steel production was up substantially, passenger car assembly continued close to capacity, arid petroleum
output was higher; the late 1954 advance in total industrial
production apparently was extended. Retail sales, after
an outstanding Christmas season, continued high last
month, with both passenger car sales and other retail lines
much above January 1954. Construction activity was still
rising; on a seasonally adjusted basis, residential construction in January was 5 percent above the fourth-quarter
average. Nonagricultural employment, seasonally adjusted,
was slightly higher but, as in previous months, the gain was
slight. From these indications it appears that in January
there was some further advance in total activity above the
fourth-quarter rate.
National Income
and Product in 1954
CHANGES in total national output in the past year have
Ci
reflected mainly the adaptation of the economy to the
reductions in national defense expenditures and in the closely
allied inventory investment which began in mid-1953. The
resilience of our productive system in the face of the very
appreciable cutbacks that were involved is evidenced by the
fact that the gross national product in 1954, at $357 billion,
was only 2 percent below 1953, and exceeded the 1952 total by
3 percent.
When allowance is made for the small net increase in overall prices, the real decline in 1954 is perhaps 3 percent. The
total physical volume of production in 1954 surpassed all
years except 1953. (See table 1.)
A similar movement was displayed by the national income,
wliich was reduced from $305 billion in 1953 to $300 billion
last year. Despite this dip in incomes generated in current
production, disposable personal income available to consumers for spending and saving actually rose from $250
billion in 1953 to $253 X billion in 1954. "This was a noteworthy development of the year and had a strong stabilizing
effect on the economy.
A large part of the decline in total output which started
in mid-1953 had occurred by the end of that year, but some
of it extended into the first quarter of 1954. Overall stability characterized the next two quarters. A sharp recovery
was registered in the final quarter which carried gross
national product above the fourth-quarter 1953 rate.
The reappraisal and rescheduling of the defense program
following the end of hostilities in Korea occasioned the most
marked change in demand from 1953 to 1954, and resulted
in an $8M billion reduction in national security expenditures.
This change was accompanied by a substantial decline in
business inventories, which reflected to a considerable degree
the cutbacks in defense purchases and orders and business
reappraisals of the general supply-demand prospects. To a
considerable extent, the decline during this period was a
counterpart of the inventory buildup which characterized the
expansion of the economy during 1950-51, in response mainly
to the direct and indirect effects of rising defense production.
The total swing in inventories, from an accumulation of
$1K billion in 1953 to a liquidation of $3% billion in 1954,
amounted to $5 billion.
Approximately $6 billion of the combined drop in national
security expenditures and inventory investment was offset by
the continued rise in total civilian final purchases. As a
consequence, gross national product was reduced by only $8
billion on an annual basis.
The strength of total civilian purchases can be readily seen
from the accompanying summary table.
Further advances in total personal consumption, new
private
construction, and wState and local government outIa37s, combined with a shift in net foreign purchases, totaled
to $10 billion. Partly offsetting this were declines in investment in producers' durable equipment and in the nonsecurity expenditures of the Federal Government, which
together amounted to $4 billion.
Quarterly output movement
From the second quarter of 1953 to the first quarter of
1954 the inventory shift was about twice as large as the year
to year swing. Reinforced by the reductions in national
security expenditures that were going forward at the same
time, but mitigated by a net rise in civilian purchases, the
reduction in gross national product from the second quarter
1953 amounted to $14 billion.
Seasonally adjusted quarterly totals at annual
rates
1952
1953
1954
1954
1953
II
I
!
IV
(B illions ()f dollai-s)
Gross national product___ 346.1 364.9 357.2 369.9 355. 8 362. 0
Change in business inventories
Final purchases _ _
National security
Civilian _
3.6
1. 5 -3.7
5. 4 -4.2 -1.3
342. 5 363.4 360. 8 364.6 360.0 363.4
48. 5 52.0 43.6 54.3 46. 9 40. 5
294. 0 311. 3 317. 3 310. 3 313. 1 322. 8
National income
291.0 305.0 300.0 308.2 298.9
Disposable personal income
236.9 250. 1 253.5 250.4 252.3 255.9
During the two middle quarters, inventory liquidation
continued at about the same rate as in the previous six
months, and while depressing total output it did not have
any further effect upon its movement. National security
SURVEY OF CURRENT BUSINESS
8
outlays moved downward at about the previous rate. Their
decline was counterbalanced by the expansion of civilian
purchases, so that total gross national product was stable in
this period.
In the final quarter of 1954, favorable shifts occurred in
all three of these broad areas of demand. The inventory
liquidation which had continued unabated for a year was
reduced markedly, and sales which had been met by allowing
National Output and Income
BILLIONS OF DOLLARS
400
GROSS NATIONAL PRODUCT
\
300
NATIONAL
INCOME
200
February
in business purchases of new capital equipment, and by a dn
in automobile purchases—a sizable factor in the final quart
of 1953 and the first quarter of 1954. The fourth quart
recovery in durable goods production shown in the cha
was influenced by the sharply reduced rate of liquidation
durable goods inventories and the increase in automobi
purchases.
Reflecting the commodity composition of the output d
cline, its industrial incidence was concentrated in manufa
turing, mining and transportation. More than the enti
$5 billion decline in national income occurred in these indu
tries with partially offsetting increases in most others.
In contrast to the decline in production incomes, disposab
personal income rose by $3% billion from 1953 to 1954,
difference in movement"of S8K billion. The factors in th
development have been described in the SURVEY during tl
course of the year as the extent of their impact became know]
On an annual basis, nearly one-half of the difference w*
attributable to the divergent movement of corporate profi
and dividend disbursements. The corporate form of orgai
ization, it should be noted, is dominant in the industries i
which the bulk of the decline in production occurred. Tot*
corporate profits, which are measured before taxes in ti
national income, declined. But dividend disbursement:
which enter the stream of disposable income, increase
moderately as tax liabilities fell sharply and retained earr
ings were also reduced.
Table 1.—Gross National Product or Expenditure in Constan
Dollars, 1947-54 >
[Billions of 1947 dollars]
1948 ! 1949 ; 1950 I 1951 j 1952 ! 1953
Item
Gross National Product
too
Personal consumption
penditures,^
Durable goods
Nondurable goods
Services
"_
I960
195!
1952
1953
1954
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
U. S. DEPARTMENT Of COMMERCE, OFFICE OF BUSINESS ECONOMICS
55-7-2
ex-
Gross private domestic investment
New construction
Producers' durable equipment
Change in business inventories
Net foreign investment
Government purchases
goods and services
Federal
State and local
of
Gross government
produ c t2 _
stocks to run down were supplied once again from current
output. The decline in national security outlays slackened;
and the increase in total civilian expenditures accelerated,
aided by the very favorable reception of the 1955 automobile models. Accordingly, from the third to the fourth
quarters the gross national product rose by $6% billion
at annual rates.
The pattern of adjustment
A breakdown of gross national product is shown in the
chart presenting the trend of national output in 4 major
product groups. It illustrates in particular the marked
degree to which the decline was concentrated in durable
goods. In contrast, output of services and new construction
activity advanced, while nondurable goods production
showed little change.
The two principal causes of the decline in durable goods
output were the inventory liquidation, and the reduction in
military outlays, both of which primarily affected the hard
goods lines. Their impact was augmented by the reduction
Other gross product 3
232. 2
243.9
241.5
264.7
282.9
294.2
306.6
297.
165.0
20.6
93. 1
51.3
168.0
21.3
93.3
53.5
172.3
22.4
94.7
55.2
182.8
27.2
97.2
58.4
183.6
24.2
99.0
60. 4
189.2
23.8
102. 4
63.0
169.7
26.5
105.2
65.0
197.
25.
105.
65.
29.7
14. 0
38.8
16.1
28.1
15.8
45.3
20.0
45.2
19.0
39.9
18.9
39.3
19.9
35.
21.
16. 7
17.7
15.7
18.3
18.4
18.3
18.8
16.;
-1.0
8.9
5.1
2.1
-3.5
.8
7.0
-1.1
7.8
2.3
2.8
1.6
.6
-.3
-3.
l.i
28.6
15.8
12.8
34.9
20.8
14.0
40.3
24.3
16.0
37.7
20.5
17.3
51.8
34.2
17.5
63.5
45.7
17.8
70.8
52.1
18.7
63.:
43, :
20. 1
16.7
16.6
17.4
18.1
23.0
24.9
24.7
23. S
215. B
227. 3
224.0
246. 6
259. 9
269.3
281.9
273.2
1. For earlier years see 1954 NATIONAL INCOME supplement to the SURVEY OF CURRENT
BUSINESS, pp. 216, 217.
2. Compensation of general government employees.
3. Gross national product less compensation of general government employees, i. c. gross
product accruing from domestic business, households and institutions, and from the rest of
the world.
Source: U. S. Department of Commerce, Office of Business Economics
Two other factors contributed markedly to the divergent
movement of national and disposable income. The decrease
in personal taxes, attributable mainly to the reduction in
Federal income tax rates effective at the start of last year,
added $3% billion to available purchasing power. The
second factor was the growth in transfer payments (net of
social security contributions). The increase in these payments was primarily in unemployment benefits which offset
some of the decline in wages and salaries, but also included
other social security and militaiy benefits. Together with
increased payments of government interest, transfers added
$1% billion to the flow of disposable income from 1953 to
1954.
SURVEY OF CUEEENT BUSINESS
February 1955
Consumer Demand
Personal consumption expenditures amounted to $234
billion last year, as compared with $230 billion in 1953.
"They exceeded all previous years both in dollar value and in
real terms. Moreover, some increase was registered in each
quarter of 1954, with the fourth-quarter annual rate about
$8 billion above the corresponding quarter of 1953.
Changes in consumption
The reduction in consumer durables was confined to the
automotive group. Expenditures for furniture, equipment
and other consumer durables combined were maintained at
the 1953 rate.
Outlays for automobiles had dropped off sharply in the
final quarter of 1953 so that the year 1954 opened at a comparatively low level. However, they made an impressive
comeback during the year, and the fourth-quarter annual
rate was about the same as the 1953 average. Demand was
9
Purchases of nondurables amounted to S120K billion in
1954 as compared with $119 billion in the preceding year,
and were probably somewhat larger in physical volume.
Food expenditures showed a more than proportionate increase; clothing outlays remained about the same as in 1953;
and expenditures for other nondurables showed a slight rise
in the aggregate.
The steady postwar rise in consumer expenditures for
services continued in 1954, though at a more gradual pace,
with the total advancing to $84 K billion as compared with
$8IK billion in 1953. More than half of this increase was
due to larger rentals, including imputed rent on owneroccupied homes. The growth in the number of dwelling
units and a 3% percent rise in average rents were of about
equal importance in the advance. Purchases of electricity
and gas for residential use in 1954 were running appreciably
above the preceding year, and other household utilities and
auxiliary services continued to advance.
Shifts in saving
Recent Trends in National Output
BILLIONS OF DOLLARS
BILLIONS OF DOLLARS
120
140
DURABLE GOODS
NONDURABLE GOODS
JOO
120
80
100
60
80
140
J_L
80
SERVICES
CONSTRUCTION
120
Investment Demand
60
100
As has already been noted, the major factor in the favorable
showing of aggregate consumption was the increase in disposable income which occurred from 1953 to 1954. However, there was also some upward shift in the proportion of
disposable income spent.
Estimates of saving for 1954 are as yet too preliminary to
permit a precise quantification of this shift. According to
the income and expenditure figures that have been reviewed,
the increase in consumption was somewhat greater than the
increase in disposable income, and personal saving measured
as the difference between the two dropped slightly below the
1953 rate. Within 1954 the downdrift of saving was somewhat more pronounced. Indications from other approaches
to the measurement of saving—available information for
the first three quarters on changes in assets and liabilities
that comprise personal saving, and personal saving estimated
as the difference between total investment and business and
government saving, would indicate a larger reduction from
1953 to 1954. Whether the final figures will show more of a
shift in the spending-saving ratio than the present estimates
derived from current income and consumption flows, it is
not possible to say.
Total fixed investment in 1954 was about the same as in
1953, with residential construction up by an amount equal
to the reduction in expenditures for new plant and equipment.
The latter centered in producers' durables, purchases of which
were about 10 percent less than in 1953.
40
Residential construction
80
I I I
i I I
1952
1953
20
1954
I I I
I i I
I I i
1952
1953
1954
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
U, S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
55-7-3,
Stimulated by the early introduction of 1955 models, which
were rather widely redesigned. A shift towards larger and
more elaborate styles, together with higher prices, and an
increased demand for accessories, also contributed importantly to the increase in the value of sales.
328930°—55
The value of work put in place on nonfarm housing was
about one-eighth higher than in 1953. This constituted a
new current dollar record and was second only to 1950 in
physical volume. Within the year residential construction
rose steadily; the larger part of the increase occurred in the
second half of the year. Virtually all of the rise represented
physical volume.
Among the significant factors supporting the advance in
housing construction have been the general availability of
mortgage funds and easier credit terms to which the Housing
Act of 1954 contributed importantly.
SURVEY OF CURRENT BUSINESS
10
Business demand for new productive facilities, which had
reached its peak in mid-1953, slipped moderately throughout
1954. The cutback in investment was in part an aftermath
of the exceptionally high rate of expenditures in the earier
years of the post-Korean defense expansion.
Plant and Equipment Investment
Though moderately reduced, business purchases
of capital goods in 1954 made another large
addition to industrial capacity
BILLIONS OF DOLLARS
30
-
20 -
1952
1951
1953
1954
Commercial companies increased their capital
outlays in 1954; spending by other major
groups was curtailed
10
COMMERCIAL
AND OTHER
8 -
,
.^
^°
^
~
NONDURABLE
MANUFACTURING
DURABLE
MANUFACTURING
0
i
PUBLIC
'"" UTILITIES
© —
1 I I I 1
|
1
1953
© ANTICIPATED
1
1
1
Nonmanufacturing outlays
MINING
Capital expenditures by nonmanufacturing concerns fell
slightly from 1953 to 1954, with lowered spending by railroads and the utilities offsetting the steadily rising expansion
and modernization programs of commercial firms.
The 1954 rate of capital additions by the rails fell about
one-third from 1953, with an even greater relative decline m
equipment installations. Deliveries of freight cars were
lower than at any time since 1939, while order backlogs tor
freight and passenger cars and for locomotives were sizablv
reduced for the third successive year. In the final quarter
of 1954, however, unfilled orders rose from their lows, and
higher capital expenditures were anticipated for the first
quarter of 1955.
.
Electric power companies in 1954 maintained capital outlays at their high 1953 rates. Generating capacity of inves-
i
1
ADJUSTED,
DATA: O.B.E. & S. E. C.
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
Capital expenditures by manufacturers in 1954 ^declined
about 7 percent from the record outlays in 1953. The
drop, which accounted for two-thirds of the total reduction in
nonagricultural fixed investment, was divided between the
durable and nondurable goods industries. Within these
broad divisions there were wide divergences among the
component groups.
Among hard goods producers, changes in investment rates
from 1953 to 1954 ranged from decreases of about two-fifths
in steel and nonferrous metals to a one-third rise by motor
vehicle companies. Expenditures by the latter group passed
the $1 billion mark in 1953, and their 1954 spending was exceeded in the manufacturing area only by petroleum companies. Outlays by nonelectrical machinery companies declined sizably, while spending by electrical machinery and
stone, clay and glass products producers was moderately
lower.
Among the major nondurable goods industries, 1954 capital
expenditures by petroleum and paper companies rose from
their previous highs in 1953. Investment by other major
groups showed some contraction, ranging up to one-fourth in
textiles. Capital outlays by the chemicals group were oft
about 15 percent in 1954, reducing expenditures to about the
1952 rate.
According to last November's survey of investment intentions, manufacturers' expenditures for new plant and equipment were still tending downward as 1954 drew to a close.
There was, however, a noticeable slackening in the rate of
decline anticipated by durable goods producers.
TRANSPORTATION
1954
QUARTERLY TOTALS, SEASONALLY
AT ANNUAL RATES
55-7-5
Facilities put in place during 1954 under the accelerated
tax amortization program amounted to $4 billion, down about
$1K billion from 1953. The issuance during 1954 of almost
$2 billion of certificates of necessity brought the total value
of projects approved under this program to $30 billion—
somewhat over 80 percent of which was in place by the end
of last year.
.
.
For the year 1954 additions to productive facilities by
nonagricultural business totaled almost $27 billion, according*
to the Commerce-Securities and Exchange Commission sitfL
vey. The 1954 investment was second only to the high of
$28% billion reached in 1953 and constituted a further significant addition to the stock of business capital, which has
increased rapidly throughout the postwar period.
Among the major industry groups in the plant and equipment survey, the drop in capital outlays from 1953 to 1954
was largest in manufacturing and railroad transportation.
Expenditures by public utilities were reduced moderately
after a prolonged upward movement. Investment by mining and nonrail transportation firms showed little^change
from 1953, while investment by commercial companies continued the rise which started early in 1952. All of these
changes were quite close to those projected by business firms
for this period last February.
Trends in manufacturing
i960
6
February 1055
SURVEY OF CURRENT BUSINESS
February 105H
tor-owned companies at the end of 1954 was 10 percent higher
than at the start of the year and almost double the capacity
at the end of World War II. Expenditures by gas companies
declined throughout 1954 and further contraction was anticipated in the opening months of this year. Fixed investment in the communications industry changed little from the
previous year.
Inventories
The adjustment of inventories in response to the cutback
in defense programs and also in other sales and new orders
began shortly after mid-1953 and resulted in a net liquidation
11
The book value of inventories held by manufacturing and
trade firms, which totaled $80 billion in December 1953,
declined $8)2 billion during 1954, with manufacturing inventories accounting for almost $3 billion of the decline.
More than four-fifths of the liquidation in factory stocks
occurred in the durable goods industries. (See table 2.)
Within this group liquidation was concentrated in the metal
and machinery industries, and in automobiles. Stocks in
most other durable goods industries showed little change.
Net liquidation of inventories of durable goods manufacturers started in the final quarter of 1953 and accelerated in
the first half of last year. It tapered in the third quarter,
and was followed by some rebuilding of stocks in the fourth.
This shift centered in transportation equipment including
motor vehicles and the metal-producing group. Liquidation
continued in the machinery industries.
Change in Business Inventories
Table 2.—Manufacturing and Trade Inventories: 1951-54
Nonfarm inventories were reduced in 1954
for the first time since 1949
[Seasonally adjusted, end of period]
1954
BILLIONS OF DOLLARS
10 ~~
Item
1951
1952
1953
Mar. June Sept. Dec.
Book Values, Billions of Dollars
5 —
Total
LJ
1948
1949
I960
195!
1952
1953
1954
The rate of liquidation subsided in the
fourth quarter of 1954
75.3 77.1 81.1 80.1 79.0 77.8 77.5
Durable goods
X on durable goods
38. 2 40. 1 43.3 42. 2 40. 8 40. 2 40.4
37. 1 37.0 37.8 37. 9 38. 2 37.6 37.2
Manufacturing
Durable goods
Nondurable snoods
42.9 44.2 46.7 45.8 44.5 43.7 43.8
22. 7 24. 4 26. 8 25. 9 24.7 24. 1 24. 5
90 ? 1Q 8 19. 9 19.9 19. 8 19. 5 19.4
Wholesale
Durable goods
Nondurable goods
11.1 11.3 11.7 11.8 11.9 11.7 11.5
5.8 5.8 5.9 5.8 5.8 5.8 5.7
5.4 5. 6 5.8 6.0 6. 1 5.9 5.8
Retail
Durable goods
Nondurable goods
21.2 21.6 22.7 22.6 22.6 22.4 22.2
Q 7 9.9 10.7 10.5 10. 4 10. 2 10. 2
11.5 11.7 12. 0 12. 1 12.2 12.2 12.0
Stock-Sales Ratios
Total
5 —
n
-5
1953
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
Durable goods
Nondurable goods
2 21 1 94 2 25 ?, ?1 2 11 ?, 16 1. 98
1. 40 1 31 1. 35 1 35 1. 34 1 33 1 ?7
Manufacturing
Durable goods
Nondurable goods
1.99 1.79 1.94 1.90 1.84 1.85 1.76
?, 25 1, 95 ?, 31 2 ?,7 ?, 17 2 21 2.03
1 76 1 63 1. 59 1 57 1 54 1 54 1, 50
Wholesale
Durable goods
Nondurable goods
1. ?,?, 1. 17 1. 37 1. 39 1.31 1. 38 1.31
1. 98 1 80 1. 94 ? 0? 1. 97 ?, 03 1. 89
. 86 . 86 94 95 . 99 93 . 89
Retail
Durable goods
Nondurable goods
1.63 1.50 1.63 1.63 1.57 1.58 1.46
2. 29 ?, 03 2. 31 ?, 16 2. 07 ?, 13 1. 89
1 31 1 ?3 1 29 1 34 1 30 1 29 1, ?,?,
1954
QUARTERLY CHANGES, SEASONALLY ADJUSTED, AT ANNUAL
RATES
55-7
1.72 1, 58 1.73 1.70 1.65 1.66 1.56
Source: U. S. Department of Commerce, Office of Business Economics.
of stocks in the fourth quarter. Liquidation continued at a
fairly uniform rate through the first three quarters of 1954,
but greatly diminished in the final quarter.
Manufacturing and trade stocks
As average replacement costs changed little during the
year, inventory profits and losses were of relatively minor
importance and most of the fluctuations in book values
represented real changes in stocks.
Inventories of nondurable goods producers were relatively
stable during the first six months of the year. Most of the
liquidation in 1954 occurred during the third quarter.
Changes in manufacturing stocks by stage of fabrication
reflected largely developments in the durable goods industries. Shifts in the nondurable goods industries were much
smaller but of similar character.
The heaviest liquidation over the year—amounting to
almost half of the total—was in stocks of purchased materials;
12
SURVEY OF CURRENT BUSINESS
the remainder was about equally divided between goods-inprocess and finished goods stocks.
Liquidation appeared first in purchased materials and
goods-in-process. Both of1 these reached peaks hi the late
summer and early faH of I )53. Purchased materials storks
declined through the first half of 1954, and firmed thereafter.
The value of goods-in-proce^ stocks declined through the
early /all and then ros< substantially with the recoveiy of
output. This category scummed for the accumulation in
manufacturers' inventories during the final q.^rter.
Finished goods continued to accumulate and reached their
peak a< the end of 195°), thjs lagging the peak in workingstocks by about one quarter. Reductions continued through
most of 1954, although the change was small during the last
lew months.
Trade stocks wtre lowered slightly in 1954. Changes in
wholesale inventories were minor, with a small rise in nondurable goods offset by a reduction in holdings of durable
goods dealers.
The liquidation in retail stocks occurred entirely among
durable goods stores, and more particularly among motor
vehicle dealers. Changes in retail stocks during the year
reflected primarily movements in the stocks of these dealers.
Stock-sales ratios
Although manufacturers and distributors reduced inventories In the fall and winter of 1953-54, sales fell faster and,
at the turn of the year, stock-sales ratios were at their recent
highs, (See table 2.) During 1954, however, the trend in
these ratios was steadily downward. In the final quarter
of 1954, the rapid improvement in sales was primarily responsible for a quickening in the rate of decline in the ratio of
inventories to sales.
In manufacturing, inventories held by durable goods
producers were equivalent to just over two months of sales
at the end of 1954. Although reduced substantially during
the year, this ratio was still higher than in 1952 and the first
half of 1953. The largest relative reductions in stock-sales
ratios during the year were in fabricated metals, stone, clay
and glass products, and in nonelectrical machinery. Nondurable goods manufacturers' inventories were slightly lower
relative to sales late in 1954 than in the 1951-53 period.
The December spurt in retail sales reduced year-end stocksales ratios of most retail lines of trade; the overall seasonally
adjusted ratio of just under 1% months of sales was somewhat
below the ratio a year earlier. Especially noticeable was the
decline in the ratio for new car dealers, reflecting both
improved sales and a considerably reduced carryover.
Net foreign investment
The net import surplus of goods and services, other than
those matched by United States gifts abroad, continued
through most of 1954; but its magnitude dropped to about
$}<2 billion as compared with $2 billion in the preceding year.
The shift was due both to a rise in exports and a moderate
decline in imports. During the year the import surplus was
reduced, and a net export balance appeared in the fourth
quarter.
The increase in exports reflected favorable business conditions in major markets for American merchandise. The
movement of imports was influenced to some extent by domestic developments. After declining during the period of
business contraction, they firmed up again as business stabilized, but their increase during the year was smaller than that
of exports if allowance is made for seasonal movements.
Government Demand
Federal Government purchases of goods and services ii
1954 amounted to $50 billion—$10 billion below the 195;
total. National security purchases accounted for about $8;
billion of this decline, while the remainder occurred in non
security operations. From mid-1953 to the end of last yea
the fall in total Federal purchases was of somewhat greate
magnitude—about $16/2 billion; however, the rate of declin
was moderating in the final quarter.
Almost two-thirds of the 1953-54 reduction in national se
eurity outlays occurred in hard goods procurement. At th<
same time the personnel of the armed forces was reduced b^
200,000 persons. This was reflected in a sizable decline h
military payrolls and in the closely related current operating
expenses of the Defense Department, Construction outlay!
for military and naval facilities were also cut back. Pur
chases of goods and services associated with the developmcn
of atomic energy, and the stockpiling of strategic and critica
materials remained fairly stable over the past two years.
The change in the nonsecurity outlays of the Federal Government reflected in the main the lower level of farm price
support operations of the Commodity Credit Corporation
As a consequence of marketing quotas which reduced the
1954 output of wheat and cotton, the two chief price-suppon
crops, the total outlays of the CCC in 1954 were only aboui
half as large as in 1953.
Role of tax reductions
In evaluating the role of the Federal Government in 195354 it is necessary to consider, in addition to Federal purchases, changes in taxes as well as expenditures other than
for goods and services. As noted previously, the reduction
in personal income taxes and the increase in government
transfer payments, mainty in the form of unemployment compensation and other social security benefits, totaled to ovei
$5 billion. The decline in corporation profit taxes, which
reflected both the shrinkage in taxable income and the elimination of the excess profits tax, amounted to $4 billion.
Finally, excise taxes were reduced by about $1 billion.
Thus the reduction in purchases of goods and services was
matched approximately by an increase in transfer payments
and a reduction in tax accruals, with the balance of receipts
and expenditures, as measured in the national income and
product accounts, showing little change from year to year.
On a seasonally adjusted quarterly basis, however, substantial shifts occurred in this balance. Receipts dropped more
than expenditures in the initial phases of the business contraction, but covered a steadily increasing proportion of
Federal outlays during 1954.
State and local purchases
State and local government purchases of goods and services rose to $27 Yz billion in 1954, an increase of almost $2%
billion over 1953. Sizable advances in employment—both
school and nonschool—along with a further rise in average
earnings, raised total payrolls by more than $1 billion.
Construction outlays also increased by about $1 billion,
reaching a total of $8 billion. Highways accounted for approximately two-fifths of the total, and school construction
for about one-fourth. Expenditures for other items—
supplies, equipment, and miscellaneous services—were
slightly higher than in the previous year.
SURVEY OF CURRENT BUSINESS
February 1955
National Income by Industries
Inasmuch as the decline in output was primarily in durable
goods, its industrial impact was very uneven. As shown in
table 3, the income declines were concentrated in the manufacturing, transportation and mining industry divisions, all
of which are closely affected by the demand for hard goods.
The change in agricultural income was small in contrast to
the substantial reductions that had occurred in the previous
National Income
Decline last year centered in a few major
parts of the economy
BILLIONS OF DOLLARS
100
13
a drop of $8 billion in their combined total income. About
$6K billion of this drop occurred in manufacturing, with the
bulk of it appearing in the durable goods industries, and
particularly in the metals and metal products industries
within this group.
Nondurable manufacturing in general has shown much
less fluctuation than the durable goods industries over the
past three years, both in its rise from 1952 to 1953 and in its
contraction from 1953 to 1954.
The effects of the cutbacks in hard goods production on
the demand for raw materials were felt in mining, while
transportation —notably railroads—reflected the reduced
volume of shipments in both manufacturing and mining.
The maintenance or increase of income originating in the
other industrial divisions was indicative of the sustained
strength of final demand for output other than durable goods
noted earlier in this review. Continued advances in public
utilities, finance and real estate, services, and construction,
totaled $3 billion, and offset more than one-third of the
income decline in manufacturing, mining and transportation.
MANUFACTURING
90
Table 3.—National Income by Major Industrial Divisions: 1952-54
80
Billions of dollars
Item
1952
20
AGRICULTURE
TRANSPORTATION
All industries, total _
10
Agriculture, forestry, and fisheries
__ _ _
Mining
Contract construction __
MINING
Income in other major Industrial divisions
showed further rise
60
WHOLESALE S RETAIL
TRADE
50
40
GOVERNMENT
SERVICES
FINANCE, INSURANCE,
REAL ESTATE
30
20
CONTRACT CONSTRUCTION
10
COMMUNICATIONS a
PUBLIC UTILITIES
-
J_
1952
1953
1954
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
55-7-8
two years. Income originating in all other industrial divisions
^was higher last year than in 1953. On balance the net de'cline in the all-industry total still left intact almost twothirds of the dollar gain that was made from 1952 to 1953.
The relative changes in the income flow in manufacturing,
mining and transportation were very similar, ranging from 7
to 8 percent in the year-to-year comparisons, and involved
1953
1954
Percentage
Absolute change,
change, 1953-54
1953-54
291.0 305.0 300.0 -5.0
-1.6
18.7
5.3
14.5
16.8
5.5
15.2
16.5
5.0
15.5
'.3
-2. 1
-8.8
2. 1
Manufacturing
Wholesale and retail trade
Finance, insurance, and real estate _ _ _
_
_ _ _ _
89.8
50.9
97.3
52. 4
90.7 -6. 6
.2
52.6
-6.8
.4
24.4
26.4
27.6
1.2
4.7
Transportation
Communications and public utilities
__
Services
15.6
16.0
14.9 — 1. 1
-7.1
9.2
26.6
10.2
28.8
11.0
29.5
.8
.7
8.4
2.4
Government and government
enterprises
Rest of the world _
_
34.3
1.5
34.9
1.5
35.0
1. 6
.1
.1
.4
49
-.3
5
Source: U. S. Department of Commerce, Office of Business Economics.
A number of factors have given impetus to these industries
in recent years. Prominent among them are the sustained
high rate of construction activity (both public and private),
the increase in financing services which this and related
activities entail, the rise in average rentals, and the steady
advance in expenditures for services. The latter is evidenced
in the persistent rise in consumer services, and is seen also
in the strong uptrend in the industrial and commercial use
of electric power and gas.
Other industry divisions showed little change between
1953 and 1954. Income in trade reflected the stability of
total sales in the two years. Total farm income was reduced
slightly as prices eased somewhat further. The volume of
output remained virtually stable at the record rate of 1953.
A decline in crops was counterbalanced by an increase in
the volume of livestock.
Income originating in government increased slightly, as a
decline in Federal military and civilian payrolls was offset
by a rise in the compensation of State and local employees.
SURVEY OF CUEEENT BUSINESS
14
February 1955
Table 4.—National Income and Product, 1952, 1953, and 1954
[Billions of dollars]
j
Unadjusted
1952
1953
Seasonally adjusted at annual rates
1954
1954
I
II
1954
1953
III
IV
I
II
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
Proprietors' and rental income
_.
l
Business and professional
Farm
Rental income of persons
.
291.0
305. 0
300.0
73.8
74.9
75.1
305.9
308.2
306.2
299.9
298.9
299.6
298.8
195.4
185.0
152.2
10 5
22.4
10.4
209.1
198.0
164.5
10.2
23.3
11.1
207.3
195.7
161.9
9.6
24.1
11.7
50.9
47.9
39.4
2.4
6.0
3.1
51.3
48.3
39.9
2.4
6.0
3.0
52.0
49.1
40.9
2.4
5.8
2.9
53.1
50.4
41.7
2.4
6.3
2.7
206.2
195.3
162.0
10.3
23.1
10.9
210.0
198.9
165.3
10.4
23.2
11.1
211.4
200.3
166.7
10.2
23.4
11.1
208.8
197.6
164.1
9.9
23.5
11.2
206.4
194.6
161.2
9.7
23.7
11.8
206.6
194.9
161.5
9.5
23.8
11.7
207.2
195.6
161.6
9.6
24.4
11.6.
208.9
197.2
163.0
9.5
24.7
11.7
49.9
49.0
48.7
12.3
12.2
12.1
12.0
50.3
48.9
47.8
49.1
49.4
49.0
48.5
48.1
25.7
14.2
10.0
26.2
12.2
10.6
25.9
11.9
10.9
6.4
3.2
2.7
6.5
3.0
2.7
6.5
2.9
2.7
6.6
2.7
2.7
26.5
13.4
10.5
26.3
12.1
10.5
26.1
11.1
10.6
25.9
12.3
10.8
25.6
13.0
10.8
25.9
12.2
10.9
25.9
11.6
10.9
26.3
11.0
10.9
38.2
38.5
34.9
8.3
9.1
8.7
41.4
41.0
38.3
33.1
34.1
34.9
33.9
37.2
20.0
17.2
1.0
39.4
21.1
18.3
-1.0
35.0
17.2
17.8
-.2
8.3
4.1
4.2
-.1
9.0
4.4
4.6
.1
8.7
4.3
4.4
-.1
-.1
42.4
22.7
19.7
-.9
41.9
22.5
19.5
-.9
40.9
21.9
19.0
-2.6
32.5
17.4
15.1
.6
34.5
17.0
17.5
-.4
34.5
17.0
17.5
.4
34.2
16.8
17.4
q
-.4
7.4
31.0
8.4
31.4
9.1
31.6
2.3
7.9
2.3
7.9
2.3
7.6
2.3
8.1
7.9
31.4
8.3
31.6
8.6
31.5
8.9
31.3
9.0
31.2
9.1
31.2
9.2
31.9
9.2
32.0
346. 1
364.9
357.2
86.7
88.0
88.4
94.1
361.8
369.9
367.2
360.5
355.8
356.0
355.5
362.0
218. 4
230. 1
234.0
54.8
58.3
57.3
63.6
228.6
230.8
231.2
229.7
230.5
233.1
234.8
237.7
26.8
116.0
75.6
29.7
118.9
81.4
28.9
120. 5
84.6
6.3
27.4
21.1
7.5
29.6
21.2
6.8
29.6
20.9
8.4
33.9
21.3
30.4
118.8
79.4
30.3
119.6
80.9
30.3
118.6
82.3
28.0
118.7
83.0
28.0
118.8
83.6
28.8
120.0
84.3
28.9
121.1
84.8
29.9
122.1
85.7
Gross private domestic investment - - . - _ _ .
50.7
51.4
46.1
12.3
10.0
12.2
11.6
51.9
55.9
52.4
45.5
44.5
45.6
45.3
49.5
New construction
Residential nonfarm
Other
Producers' dui able equipment
Change in business inventories, total
Nonfarm only _. ._
. .
23.7
11. 1
12 6
23.3
3.6
3.0
25.5
11.9
13.6
24.4
1.5
2.2
27.6
13.3
14.3
22.2
-3.7
-3.8
5.6
2.4
3.2
5.6
1. 1
1.1
6.8
3.3
3.5
5.9
-2.7
-2.7
7.8
3.9
3.9
5.2
-.8
-.9
7.4
3.8
3.6
5.4
-1.2
-1.2
25.0
11.7
13.3
24.1
2.8
3.3
25.9
12.2
13.7
24.6
5.4
6.2
25.6
12.1
13.5
24.8
2.0
2.9
25.7
11.7
13.9
24.0
-4.2
-3.7
26.0
11.7
14.3
22.7
-4.2
-4.2
27.0
12.8
14.2
22.4
-3.8
-4.0
28.3
14.0
14.2
21.8
-4.8
-5.0
29.1
14.8
14.3
21.7
—1.3
-1.6
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.
GROSS NATIONAL PRODUCT OR EXPENDITURE
Gross national product. . _ Personal consumption expenditures
Durable goods
Nondurable goods
Services
... __
___ _ __ .
.
Net foreign investment
__ __
..
. .
. .. ..
Government purchases of goods and services
Federal
National security
National defense
Other national security
Other
Less: Government sales _
State and local
. __ ...
.
-.2
-1.9
-.4
-.4
-.1
-.3
.3
-1.8
-3.3
-1.8
-.6
-1.1
-1.0
-.2
.8
77.2
85.2
77.5
20.0
19.7
19.1
18.6
83.0
86.6
85.4
86.0
81.9
78.3
75.6
74.1
54.0
48 5
46.1
2.4
5.8
.4
23.2
60.1
52.0
50.0
2.0
8.5
.4
25.1
50.0
43.6
42. 1
1.4
6.7
.3
27.5
13. 7
11.7
11.4
.4
2.1
.1
6.3
12.8
11.2
10.9
.3
1.7
.1
6.9
12.0
10.5
10.1
.4
1.5
.1
7.2
11.5
10.1
9.8
.4
1.4
.1
7.2
58. 1
51.0
48.7
2.2
7.7
.5
24.9
62.2
54.3
52.0
2.3
8.3
.4
24.4
60.3
52.3
50.6
1.7
8.4
.4
25.1
59.8
50.6
48.7
1.9
9.6
.3
26.2
55.0
46.9
45.4
1.5
8.4
.3
26.9
51.3
44.7
43.5
1.2
6.9
.3
27.0
47.9
42.1
40.5
1.5
6.1
.2
27.7
45.9
40.5
39.0
1.5
5.6
.2
28.2
DISPOSITION OF PERSONAL INCOME
__
271.2
286.1
286.5
70.2
71.1
71.4
73.9
283.3
286.4
287.5
287.3
285.1
285.7
286.2
289.0
Less: Personal tax and nontax payments. .... _.
..
Federal _.
_
. _ _ ...
State and local
Equals: Disposable personal income.. - . . . . _ .
...
34.4
31. 1
3.2
236.9
36.0
32.5
3.5
250.1
32.9
29.2
3.7
253.5
11.9
10.8
1.1
58.2
6.2
5.2
.9
65.0
7.7
6.8
.9
63.6
7.1
6.3
.8
66.8
35.5
32.1
3.4
247.8
35.9
32.5
3.5
250.4
36.3
32.8
3.5
251.2
36.1
32.6
3.6
251.2
32.8
29.1
3.7
252.3
32.9
29.2
3.7
252.9
32.9
29.2
3.7
253.2
33.1
29.3
3.8
255.9
Less: Personal consumption expenditures
218. 4
230.1
234.0
54.8
58.3
57.3
63.6
228.6
230.8
231.2
229.7
230.5
233.1
234.8
237.7
18.4
20.0
19.5
3.4
6.7
6.3
3.2
19.2
19.6
20.0
21.5
21.8
19.7
18.4
18.2
346. 1
364.9
357.2
86.7
88.0
88.4
94.1
361.8
369.9
367.2
360.5
355.8
356.0
355.5
362.0
25.3
28.0
1.0
.6
27.2
30.0
1.0
1.0
29.3
30.3
1.0
-3.7
7.2
7.5
.3
-1.9
7.4
7.6
.3
-2.0
7.6
7.8
.3
26.2
29.4
1.0
-1.2
27.4
30.2
1.0
2.6
27.4
30.1
1.0
2.1
27.9
30. 3
1.0
.6
28.2
30.3
1.0
-3.0
29.0
30.2
1.0
-3.8
29.8
30.0
1.0
-4.4
30.2
30.4
1.0
-.2
-.5
-.3
7.1
7.4
.3
-1.9
j
.0
-.1
-.1
A
-.6
-.4
-.8
-.4
-.1
-.3
-.4
305.0
300.0
73.8
74.9
75.1
305.9
308.2
306.2
299.9
298.9
299.6
298.8
Personal income _ .
... .
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
291.0
Equals* National income
Less: Corporate profits and inventory valuation adjustmentContributions for social insurance
_
.,
...
Excess of wage accruals over disbursements
38.2
8.7
.0
38.5
8.8
34.9
9.7
.0
8.3
2.8
.0
9.1
2.5
.0
8.7
2.3
.0
2.1
.0
41.4
8.8
.0
41.0
8.9
-.1
38.3
8.7
—.1
33.1
8.6
-.1
34.1
9.8
.0
34.9
9.7
.0
33.9
9.6
.0
9.7
.0
Plus' Government transfer payments
Not interest paid by Government
Dividends
Business transfer payments
.
12.1
4.9
9.1
1.0
12.8
5.0
9.4
1.0
14.8
5.3
9.9
1.0
3.6
1.1
2.4
.3
3.7
1.6
2. 2
13
3.6
1.1
2.3
.3
3.8
1.4
2.9
.3
12.6
4.9
9.1
1.0
12.6
5.0
9.3
1.0
12.6
5.1
9.5
1.0
13.3
5.2
9.6
1.0
14.2
5.2
9.6
1.0
14.8
5.3
9.6
1.0
14.7
5.4
9.8
1.0
15.5
5.4
10.4
1.0
_ __
271.2
286.1
286.5
70.2
71.1
71.4
73.9
283.3
286.4
287.5
287.3
285.1
285.7
286.2
289.0
Equals: Personal income
..
1. Includes noncorporate inventory valuation adjustment.
Source: U. S. Department of Commerce, Office of Business Economics.
SURVEY OF CURRENT BUSINESS
February 1955
Types of Income
Changes in the major types of income from 1953 to 1954
reflected the fact that the drop in national income occurred
primarily in the corporate sector of the economy and that
in that sector it impinged more heavily on profits than on
the other income shares. Changes in types of income other
than corporate profits were quite moderate.
in the fourth quarter. For the year 1954 as a whole unemployment averaged about 3.2 million, or 5 percent of the
labor force, about twice the rate of the previous year. It
reached a peak in the second quarter of 1954, and was reduced
thereafter, particularly in the fourth quarter.
Table 5.—-Employment, Payrolls, and Average Annual Earnings by
Major Industrial Division, 1953-1954
Employee compensation
Compensation of employees, which represents more than
two-thirds of the national income, was about 1 percent lower
last year than in 1953. While the change in the'total was
not large, significant shifts in composition and marked fluctuations in quarterly movement occurred within this 2-year
period.
Private wages and salaries, at $162 billion, were $2% billion below 1953, while government payrolls showed a slight
rise. The reduction in private payrolls reflected a $5 billion
drop in manufacturing, mining, and transportation; about
half of it was offset by a continued moderate advance in the
other industrial divisions. (See table 5.)
The maximum decline during the 1953-54 business readjustment occurred between the third quarter of 1953 and the
first quarter of 1954. Payrolls in manufacturing (principally
the durable goods industries), mining, and transportation
dropped by $5% billion during this period, accounting for
the entire decline in the total for all private industries. As
output stabilized in 1954, payrolls steadied also, and were
maintained at a fairly even rate until the final quarter when
they turned up about $1% billion on a seasonally adjusted
annual rate basis.
Factors in payroll change
The decline in wages and salaries last year stemmed
mainly from reduced employment. Almost two-thirds of
the effects of employment on payrolls was offset by increases
in average annual earnings. These rose as the result of
further advances in hourly pay despite a moderate reduction
in the length of the workweek.
As shown in table 5 average annual earnings per full-time
employee increased from 1953 to 1954 in nearly all industry
divisions. The increase amounted to 2 percent for the total
and ranged up to 4 percent in communications and public
utilities. These advances constituted significant offsets to
the impact of the employment declines even in manufacturing and transportation. Agriculture and mining were the
only exceptions to the general pattern; average earnings in
these industry divisions were off about 1 percent.
The decline in Federal employment including the armed
forces was about twice as large as the employment increase
that occurred in State and local governments. However,
because of the greater increase in average annual earnings,
State and local payroll increases more than offset the reductions in Federal wages and salaries.
Employment trends
The number of full-time equivalent employees in 1954—
53 K million—averaged 1% million below the preceding year,
a reduction of 3 percent. On a seasonally adjusted monthly
, Jasis, employment in nonagricultural establishments declined
from the summer of 1953 through the summer of 1954. The
pickup in auto and other hard goods production, and the
increase in public education employment were largely responsible for an increment of close to K of a million employees
15
Number of full - Wages and saltime equivalent
aries
employees 1
Item
Data in thousands
1953
Millions of
dollars
Average annual earnings per full-time employee
Dollars
Percent
change
1953-54
1953
1954
53,427 197,980 195,650
3,590
3,662
2.0
1954
1954
1953
All industries, total
55, 151
Agriculture, forestry and fisheries
Mining
Contract construction
2,074
854
2,616
2,071
752
2,600
3,428
3,727
11, 102
3,382
3,253
11, 334
1,653
4,364
4,244
1,633
4,326
4,359
-1.2
-.9
2.7
Manufacturing
Wholesale and retail trade
Finance, insurance, and real
estate
17, 230
9,729
16, 014
9,715
69, 799
33, 822
65, 844
34, 965
4,051
3,476
4,112
3,599
1. 5
3. 5
1,992
2,061
7,492
7,999
3,761
3,881
3.2
Transportation
._
Communications and public
utilities
Services.-. . _.
2,763
2,592
12, 270
11, 803
4,441
4,554
2. 5
1,386
6,517
1,392
6,402
5,591
17, 272
5,850
17, 508
4,034
2,650
4,203
2,735
4.2
3.2
Government 2._.
_ . _ __
Federal
State and local - --_ _ _
9,990
5,877
4,108
9,828
5,547
4,276
33, 477
19, 826
13, 631
33, 712
18, 836
14, 856
3,351
3,373
3,318
3,430
3,396
3,474
4! 7
45, 161
43, 599 164, 503 161, 938
3,643
3,714
1.9
43, 226
41, 669 161, 451 158, 940
3,735
3,814
2. 1
Addendum:
All private industries
All private nonfarm industries
•_ _
2.4
1. Full-time equivalent employment measures man-years of full-time employment of wage
and salary earners and its equivalent in work performed by part-time workers. Full-time
employment is 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.
2. Includes government enterprises and rest of the world.
Source: U. S. Department of Commerce, Office of Business Economics.
Employment declined in manufacturing, transportation,
mining, and government, and in the services, where a decrease in domestic employment was responsible for the
change. Finance, insurance, and real estate registered a
gain, while all other industry divisions maintained employment at about 1953 levels.
In manufacturing the employment losses occurred among
production workers, and on the average were heavier in the
durable goods industries. (See table 6.) Within the durables group, metal and metal-working industries were particularly affected. Among the larger nondurable goods industries textile mill products had the most unfavorable employment experience.
The average workweek in manufacturing declined by 2
percent from 1953 to 1954. In general, the industry pattern
of work-week reductions paralleled that of the employment
losses. On a seasonally adjusted basis, the major part of
the decrease in employment and hours occurred in the
second half of 1953. Employment continued to decline
into the summer of 1954, leveling out and increasing thereafter. Average hours worked stabilized earlier and showed
a moderate uptrend during most of 1954.
Proprietors* and rental income
Proprietors' and rental income in 1954 showed little change
from the preceding year, either in total or in composition.
Although net income of farm proprietors fluctuated widely
within the past two years, the 1954 total was only slightly
SURVEY OF CURRENT BUSINESS
16
less than that of 1953. This small change compared with very
appreciable declines in the two preceding years. After some
increase in the opening months of 1954, farm prices drifted
downward and resulted in a reduction in farmers' net income
in the last three quarters of the year.
With the decline in output concentrated in industries that
are primarily corporate in organization, business and professional incomes were off only fractionally from 1953 to
1954. Noncorporate sales were well maintained in the
aggregate and the available data indicate that profit margins,
by and large, also remained stable. Auto dealers, who
experienced a reduction both in sales and profit margins on
an annual basis, were the principal exception.
Corporate profits
Information on last year's corporate profits is so far
limited to reports covering the first three quarters only,
and does not reflect the improvement of business toward
year-end. A rise in the fourth quarter is assumed in the
present review of 1954 experience.
Corporate profits before taxes dropped from $39 % billion
in 1953 to around $35 billion last year. The 1953 total
includes approximately $1 billion in net inventory gains;
profits as measured for national income purposes exclusive
of such gains showed a somewhat smaller reduction.
This figure was close to that recorded in 1950, and about
$4 billion below the 1951-53 average. For various reasons
profits have not participated fully in the post-Korean expansion, the 1950-53 rise in national income having reflected a
more-than-proportionate increase in compensation of employees within most industries. Cyclical and other transitory factors, such as the sharp reaction of corporate profits
to the onset of the business readjustment in 1953 and to the
steel strike in 1952, partly explain this pattern of events, but
other factors not yet fully analyzed may also have been
involved.
February 1955
The 1953-54 decline in before-tax profits, which reflected
the general pattern of the output contraction, was accompanied by a sharp reduction in corporate profits tax liabilities.
With the decline in taxable net income and the termination,
of the Federal excess profits tax, such liability dropped from
$21 billion in 1953 to about $17 billion last year. It may be
noted that, pending the availability of the necessary information, the effects of the Internal Revenue Code of 1954
have not yet been taken into account in these estimates.
After-tax profits, at around $18 billion, held close to their
1953 level, and dividend disbursements rose somewhat.
On a seasonally adjusted quarterly basis, the decline in
profits which began in 1953 ended by the close of the year,
and before-*tax profits in the aggregate were stationary during
the first three quarters of 1954.
Industrial shifts in 1954 profits
The industry pattern of change in before-tax profits was
in general conformity with the pattern of change in the
industrial structure of the national income, profits showing
their usual relative volatility. The declines from 1953 were
concentrated mainly in transportation and manufacturing,
with partial data indicating a drop also in trade (particularly
auto retailing). For the first 9 months of last year,
aggregate profits in these three industry divisions were
at a seasonally adjusted annual rate close to $5 billion less
than their combined total for 1953. Communication and
public utility industry profits were up about $% billion on
the same basis. Changes in most other industry divisions
appear to have been minor.
Among manufacturing industries, the profits drop from
1953 was sharpest in the durables groups and particularly
in the metals and metal-fabricating Jines, and was general
but less marked in the nondurables. There were certain
notable exceptions: earnings held up relatively well in the
transportation equipment group and in stone, clay and
glass; while in textiles and apparel severe declines were
reported.
Table 6.—Production Workers in Manufacturing: Employment, Hours, and Average Hourly Earnings
1954 employment
Annual Percent 4th qtr.
average
change
average
(1,000) from 1953 (1,000)
IVlaii u fac tures
Durable goods
-
Ordnance and accessories
Lumber and wood products, except furniture
Furniture and fixtures
Stone clay and glass products
Primary metal industries
_ _ _ _
Fabricated metal products
Machinery except electrical
Electrical machinery _ _ __
Transportation equipment, except automobiles
Automobiles
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
_ ____
Apparel and other finished textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber products
Leather and leather products
__
Hours worked per week in 1954
Percent
change
from 4th
qtr. 1953
Annual Percent
change
average from
1953
Average hourly earnings in 1954
4th qtr.
average
Percent
change
from 4th
qtr. 1953
Annual
average
Percent
change
from 4th
qtr. 1953
12, 631
-8.8
12, 688
-6.5
39.7
-2.0
40.2
.0
$1.81
2.3
$1.82
1.7
7,233
-11.4
7,223
-8.9
40.2
-2.7
40.8
.0
1.92
2.7
1.94
2.1
—.2
2.7
1.0
1.0
-1.8
-.2
1.99
1.63
1.57
1.77
2.10
1.90
4.7
.6
1.9
2.9
1.9
2.7
2.02
1.67
1.58
1.79
2.14
1.93
6.2
2.5
1.3
2.3
2.9
3.2
-3.6
.5
-1.0
4.7
-2.2
-.7
2.01
1.82
2.08
2.20
1.83
1.61
2.6
3.4
4.0
2.8
2.8
2.5
2.03
1.83
2.10
2.25
1.85
1.61
1.5
2.2
2.9
3.7
2.2
.6
129
663
288
432
991
837
-30.6
-6.0
-9.7
-6.1
-12.5
-10.2
110
710
298
439
985
834
-41.5
3.3
-2.9
-3.9
-9.7
-7.3
40.2
40.6
40.2
40.6
38.7
40.6
-2.0
2
—.1
-5.4
-2.6
40.5
41.4
41.2
41.2
39.3
41.2
1,145
810
732
602
219
3S4
-12.1
-12.9
-6.5
-20.8
—9.5
-7.5
1,096
826
696
622
213
393
-11.9
-9.2
-10.5
-11.5
-12.0
-6.9
40.6
39.8
40.5
40.5
40.0
39.9
-4.0
-2.5
— 1.9
-1.5
-3.4
-2.2
40.4
40.5
40.7
42.2
40.4
40.5
5,396
-5.0
5,466
-3.1
39.0
-1.3
39.5
.8
1.66
3.1
1.67
2.5
1,093
94
984
1,041
437
-3.6
-1.1
-10.0
-5.5
1,110
106
993
1,052
440
-3.6
1.0
-5.2
-3.6
-1.1
41.0
37.4
38.3
35.6
42.3
-2^0
-2.2
-1.6
41.3
37.8
39.7
36.0
42.8
-.2
-3.1
3.7
.3
-.2
1.68
1.30
1.36
1.35
1.75
4.3
4.8
-.7
1.5
3.6
1.70
1.28
1.37
1.35
1.77
3.7
3.2
.0
.0
3.5
618
527
177
197
330
1.0
-4.4
-4.8
-10.9
-4.9
525
528
174
206
332
.2
-3.5
-4.9
-2.8
-.3
38.4
41.1
40.7
39.8
37.0
-1.3
-.5
2
-L2
-1.9
38.7
41.3
40.5
41.3
37.1
-.8
.0
-.7
5.4
1.4
2.27
1.91
2.28
1.97
1.38
3.2
4.4
3.2
2.1
.7
2.29
1.93
2.28
2.03
1.38
3'. 8
.9
5.7
.0
Q
Source: Computed by the Office of Business Economics from monthly data published by the Bureau of Labor Statistics, U. S. Department of Labor.
Percent 4th qtr.
change
from 1953 average
Production and Trade
INDUSTRIAL production held generally steady through
the summer at the reduced rate reached in the first quarter
and then advanced during the remainder of the year. At the
year-end, output was somewhat above the average of the first
9 months, 5 percent below the peak second quarter of 1953
and slightly higher than the 1952 average.
The slackened pace of inventory liquidation towards the
end of 1954, coupled with a renewed rise in the durable goods
industries paced by a sharp spurt in automobiles were the
major influences in reversing the trend of factory production.
Basic to the improvement in output was the advance in
consumer purchasing.
.
For 1954 as a whole, the decline in industrial production
from the previous year, as measured by the Federal Reserve
index, amounted to 6 percent, about the same as that which
occurred in the 1948-49 adjustment. The reduction in 1954
resulted largely from a sizable cut in purchases of defense
goods and some tapering off in demand for producers and
consumer durables. The reduction in output was accentuated by cutbacks in stocks of goods held by business firms
which reduced production in some instances below the rate
of consumption.
.
Although year to year declines in manufacturing production were fairly widespread among the major industries,
they were much more pronounced among the durable goods
than among nondurable goods. Minerals production dropped
chiefly because of curtailment in the output of coal, iron ore
and nonferrous metals which more than offset a small increase
in natural gas. In only a few major industries was output
for the year as a whole as high or higher than in 1953. At
year-end, however, production in most major industries was
up substantially from earlier lows.
Reflecting the reduced rate of finished goods production,
output and consumption of raw and semifinished materials—
particularly those of nonagricultural origin—were below the
record 1953 volumes. Overall consumption of materials,
however, declined less than output as consumers in many
cases used up inventories of materials on hand. This was
especially true in the case of metals.
sharper than that experienced by the metal-processing industries as a whole. As measured by the Federal Reserve
production index, the output of metal fabricating establishments, which normally consume roughly four-fifths of the
total available domestic supply of finished steel products,
fell only 10 percent from 1953 to 1954. The size of the decline in finished steel shipments when considered in relation
to the activity in consuming industries suggests that consumers were liquidating substantial amounts of inventories
in 1954.
,, i94J~4$MOQ,
180
ISO
J40
ItO
''$
NONDURABLE
I 1 II I I
Steel output turns up
The steel industry began the year with operations at 75
percent of rated capacity as of January 1, 1954; this rate
gradually fell to 60 percent by midsummer, and then turned
steadily upward to reach 82 percent of capacity in the week
before the Christmas seasonal let-down. The average for
the year as a whole was 71 percent of rated capacity, equivalent to 88.3 million tons of steel ingots and castings. This
Vas 23 million tons below the 1953 total and the lowest volume since 1949 when 78 million tons were turned out.
Last year's ingot production provided 63 million tons of
finished steel products for the metal-consuming industries,
a decline of one-fifth from 1953. This decrease was much
328930°—55
During the year, 1.5 million tons were added to raw steelmaking facilities. The net addition brings total rated
capacity to a record 125.8 million tons.
The expansion of steel production continued in January
of this year. Operations averaged 83 percent of the enlarged
rated capacity as of January 1, 1955, equivalent to over 8.8
million ingot tons—an annual rate of 106 million tons. In
early February, operations climbed to 87 percent of rated
capacity.
17
18
SUKVEY OF CUKEENT BUSINESS
Copper9 lead, and zinc supplies
Production and consumption of nonferrous metals fell well
below the 1953 volume. Producers generally cut back mine
operations, particularly in the early months of 1954, in response to lower demand and to reduce inventories. Imports
in the form of ore, concentrates, and refined metal were also
lower.
Copper production declined 10 percent despite the opening
of four new large mines during 1954. A part of the drop resulted from an extended work stoppage in late summer, at a
time when consumer stocks were well depleted and when a
substantial pickup in demand was in progress. Shipments of
copper rose sharply in the latter part of the year, roughly
one-third above the first-quarter rate. Because of the temporary tightened-supply situation, a sizable quantity of
copper from the national stockpile was released for sale to
consuming industries.
Lead and zinc supplies were adequate in relation to
demand although domestic mine output and imports of
Table 1.——Output of Selected Industrial Products
Percent
change
Product
1951
1952
1953
105.2
93.2
111.6
88.3
-5
-21
Thous. sh. tons___
837
Bil. bd. ft... _
38.1
Mil.bbls
246
Mil. std. brick
6,625
937
38.2
249
5,889
1, 252
39.3
264
5,874
1,461
37.0
270
6,165
56
-3
8
5
17
-6
2
5
116
79.4
667
5,539
6,096
129
83.8
691
7,323
7,215
125
38.3
670
6,601
7,347
8
-52
0
19
21
—54
-3
-10
2
12, 627 10, 935 13, 369 10,401
4,075 3,570 3,650 3,425
238
380 1,045 1,230
5
-4
224
-22
-6
18
Unit
1954 P
1952
to
1954
1953
to
1954
Durables
Steel ingots and steel for
castings.
Aluminum
Lumber
Cement
Brick
Glass containers
Freight cars
Tractors, total _
Motor vehicles
Television sets
_
_ _
Mil. sh. tons
__ Mil. gross
Thous
Thous
Thous
Thous
Radios
Refrigerators
Air-conditioning units,
room.
Freezers farm and home
Washing machines
__
Dryers clothes
Thous
Thous
Thous
118
96.0
794
6,765
5,385
-
-3
1,050
3,373
492
1,140
3,168
635
1,090
3,516
737
975
3,580
908
-14
13
43
-6
2
23
19.6
241
482
419
1,141
19.3
258
533
436
1,192
21.7
259
532
423
1,267
19.4
248
526
406
1,270
0
-4
—1
-7
7
-11
-4
—1
-4
0
Mil. sh. tons
26.1
Mil Ibs
2,431
Thous Ig tons
845
Thous. running 10, 037
bales.
Mil. Ibs
484
24.4
2,333
799
9,181
26.5
2,777
848
9,323
26.5
2,780
623
8,600
9
19
-22
-6
0
0
-27
-8
466
495
376
-19
-24
1,294
210
1, 136
263
1,197
301
1,036
346
32
-10
15
1,434
1,749
2,134
2,350
34
10
534
2,248
467
2,290
457
2,360
390
2,314
-17
1
-15
-2
Thous
Thous
Thous
- - -
Nondurables
Suits men's
Dresses, women's. ._
Shoes and slippers
Cigarettes, small
Motor fuel
Mil
Mil_...
___ Mil
Bil
Mil. bbls
Paper and board
Plastics and resin materialsRubber, synthetic
Cotton consumption
Wool consumption,
parel and carpet.
ap-
Rayon and acetate
Synthetic fibers, other
than rayon.
Synthetic detergents
Mil. Ibs
Mil. Ibs _ _
_.
.
Mil. Ibs.
Minerals
Bituminous coal _
Crude petroleum
__
Mil. sh. tons
Mil. bbls- ...
_
p—Preliminary.
Sources of data: Brick, glass containers, tractors, clothing, shoes, paper and board, cotton,
and wool, U. S. Department of Commerce, Bureau of Census, and Business and Defense
Services Administration; aluminum, cement, and motor fuel, U. S. Department of the
Interior, Bureau of Mines; detergents, U. S. Department of Agriculture; cigarettes, U. S.
Department of Treasury, Internal Revenue Service; plastics, U. S. Tariff Commission;
steel, American Iron and Steel Institute; lumber, National Lumber Manufacturers Association; motor vehicles, Automobile Manufacturers Association; refrigerators, air-conditioning
units, dryers, and freezers, Electrical Merchandising, McGraw-Hill Publishing Company;
washing machines and dryers, American Home Laundry Manufacturers Association;
freight cars, American Railway Car Institute; television sets and radios, Radio-ElectronicsTelevision Manufacturers Association; synthetic fibers, Textile Organon, Textile Economics
Bureau, Inc.
February 1955
both metals were considerably less than in 1953. In contrast with the situation in copper, the Government during
the year purchased substantial quantities of lead and zinc
from producers' stocks for the national stockpile.
The reduced level of copper and zinc output, which in
some months was below consumption, and a rise in the
demand for these metals in the last half of 1954 brought
about a considerable reduction in inventories held by
producers and consumers. Copper stocks held at refinery
plants were reduced from a high of 126,000 tons in March
to 33,000 in October 1954 though they were slightly above
this figure at the year end.
Record aluminum supplies
Among the light metals, the production of primary aluminum and its principal ore, bauxite, reached new peaks,
and output of titanium sponge metal doubled the 1953 volume while production of magnesium declined.
The record domestic aluminum production achieved in
1954, nearly 1.5 million tons, was largely the outgrowth of
planned new capacity installed over the past four years.
Imports of primary aluminum, which were substantially
below the exceptionally large volume of 1953, plus domestic
production brought total new supplies to 1.7 million tons
compared with a little less than 1.6 million tons in 1953.
Total consumption of primary and secondary aluminum,
however, fell moderately below the record high of 1953 owing
to a reduction in military takings. Civilian consumption of
aluminum was a record in 1954, amounting to 1.3 million
tons. The strong trend toward the increased use of aluminum in building products as well as in certain types of
automotive equipment continued in 1954 and contributed
importantly to the higher volume of nondefense use.
A part of the production from new facilities was purchased
by the Government for the national stockpile.
The expansion program for primary aluminum inaugurated
in the middle of 1950 and calling for a doubling of capacity—
from about 750 thousand tons to 1.5 million tons—has been
virtually completed. Only one plant involving 60,000 tons
remains to be completed under the program and this is
scheduled to go into operation in July of this year.
Output of materials other than metals was closely geared
to consumption. Production of construction materials, paper
and board, plastics and resin materials, and crude petroleum
was in reduced volume in the early months of 1954 but
subsequently recovered with output by the end of the year at
or close to record rates. For the year as a whole, output of
these products was about as high as or only slightly below
1953. Lumber mills turned out a smaller volume but this was
largely due to a prolonged work stoppage in midsummer,
usually the peak producing period. Production of synthetic
rubber and coal was down by sizable proportions and this
was also true for activity in cotton and woolen mills. Yearend rates of output for these industries, however, were up
considerably from earlier lows.
The downward trend in coal consumption continued in
1954. Last year's use of bituminous coal represented only
two-thirds of the 1947 volume, the peak postwar year, and
was 3 percent below 1939.
The variability in recent production trends for a selected
list of industrial products can be seen in the accompanying
table. Most of the items shown registered production decreases from 1953 to 1954 though a number increased while
others showed little change. The output declines ranged*
from an extreme of 50 percent for freight cars to as low as 1 *
percent for shoes, with the majority of the decreases being
under 10 percent.
February 1955
SURVEY OF CUERENT BUSINESS
Declines in durable goods
The sharpest decline in manufacturing activity from 1953
to 1954 was in the heavy-goods industries and, in particular,
in plants producing primary metals and fabricated metal
products. Activity in these groups was particularly affected
by the inventory adjustment and the slackening in demand
for producers and defense goods. At year-end operations
were at advanced rates.
The effect of the decline in ordnance and to a much lesser
extent in business outlays for capital equipment was evident
in the production trends of most types of producers durables,
especially machine tools, some lines of industrial machinery,
farm machinery, tractors for farm and industrial use, transportation equipment, and integral and fractional horsepower
motors. Declines in these categories more than offset the
gains in pulp and paper, printing, and dairy and milk
products machinery, and in such specialized equipment as
electronics computing and calculating machines. Over the
year, the decline in the value of manufacturers' shipments of
nonelectrical machinery amounted to about one-tenth.
The fast growing electronics equipment industry group
slowed down a bit in 1954 as aggregate sales of close to $6
billion were somewhat below the record 1953 total. The
slight decline in this group resulted from lower takings by the
Armed Forces. Defense orders have accounted for a large
proportion of the total output of electronics equipment and
components.
Defense goods production, which had been expanding
sharply since the middle of 1950, reached a peak in the
second quarter of 1953 and has since been generally declining. The rate of decrease in the October-December
period was smaller than in earlier quarters. Though most
military end items were affected by cutbacks the immediate
impact on individual defense industries varied. Activity in
plants turning out aircraft, as measured by deliveries of air
frame weight, was well maintained throughout 1954 and
unfilled order backlogs in this industry are still large. On
the other hand, shipbuilding yards working on military and
civilian orders were less active and this was also true for
plants rolling out motor trucks. Placement of military
orders which generally runs uneven from quarter to quarter
have been in larger volume since the relatively low JanuaryMarch 1954 rate and there has been a noticeable improvement in recent months in new orders for civilian goods.
19
Production of consumer durable goods increased in November and December of 1954 when a sharp spurt in passenger
car assemblies lifted total output by the year-end to a rate
only slightly below the high second quarter of 1953. Because of the substantially lower volume in the first 10
months, consumer durables output for the year as a whole, as
measured by the Federal Reserve index, was 8 percent below
that of the previous year.
All of the major components shared in the year-to-year
drop in varying degrees. Declines of around 10 percent were
registered for passenger cars and furniture and floor coverings while the decreases in household appliances and radios
and television sets were less than 5 percent. Output of
television sets actually increased but the number of radios
turned out was sharply lower.
Passenger car production fluctuations were influenced by
the shift in the timing of the model changeover period. The
buildup in auto assemblies in November and December
following the changeover shutdowns was exceptionally rapid.
In December output was at an annual rate of over 8.0 million
units, and this exceptionally high rate was maintained in
January.
Total factory sales of passenger cars in 1954—5.5 million
in domestic and 207 thousand in foreign markets—exceeded
assemblies by 200 thousand. Dealers' stocks of new cars at
the year-end were relatively low.
Year-to-year changes in production of individual consumer
durable products were mixed. In general, output of some of
the relatively new products—dryers, room air-conditioners,
and food waste disposals—reached new high marks, a continuation of the strong postwar uptrend for these lines. On
the other hand, output of products with long-established
markets generally declined.
Nondurables reflect steady demand
Output of nondurable goods which was more stable than
the durables segment moved moderately upward through
most of the first half of 1954, dipped slightly in the summer
months, and then advanced in the remaining months of the
year. For most of the nondurable finished lines—foods,
shoes, soaps, sanitary paper products, drugs and medicines,
and refined petroleum products—demand was well maintained. In some other lines such as apparel and tires and
tubes output declined.
Agricultural Production
THE VOLUME of agricultural output in 1954 was maintained
at the record rate established in 1953 as a reduction in crop
production was offset by an expansion in livestock marketing.
The trend of prices received was irregularly downward during
the year. The average for 1954 was about 3 percent lower
than in 1953 though at the end of 1954 farm prices were 6
percent lower than a year earlier. Since the volume of
marketings did not change from 1953 to 1954, cash receipts
were down about as much as agricultural prices.
Though prices paid by farmers for production items averaged the same in 1954 as in 1953 total production expenses
are estimated to be down slightly in 1954. Net income was
also off slightly; the reduction was less, however, than in each
of the two preceding years. If adjustment is made for the
decline in farni population, income per person on farms was
relatively stable in the past 3 years and about equal to the
average for 1947-49. The ratio of farm income per capita
to nonagricultural income per capita was lower in 1954 than
during the war and early postwar years but was somewhat
higher than in 1929 and most prewar years.
Rather substantial long-term adjustments affecting American agriculture appear to be bringing about a better balance
between the farm and nonfarm sectors of the economy.
A smaller proportion of output was acquired by the government in 1954 than in 1953 as domestic commercial channels
and exports absorbed a somewhat larger portion. Whereas
SURVEY OF CURRENT BUSINESS
20
Commodity Credit Corporation loans and purchases for price
support for 1953 crops were about 10 percent of farm receipts
in 1953, support operations for the 1954 crops were down to
about 6 percent in 1954. Reduced support activity was
necessary for the three commodities which accounted for
about three-fourths of support extended on 1953 crops—
cotton, corn, and wheat. Cotton and wheat acreages were
February 1955
each cut back about one-fifth in 1954 as marketing quotas
went into effect, and production was reduced somewhat less.
On the other hand price support activity in 1954 increased
for each of the principal feed grains other than corn, and for
the food grains—rye and rice—and for tobacco as output of
all these crops increased.
Large crop supplies
Agricultural Trends
Crop production in 1954 was about 3 percent lower than
the large crop harvested in 1953 and about equal to the
average for the postwar period. The total harvest was somewhat larger than expected domestic and export demand, and
thus an addition to the large carryovers at the beginning of
the season is expected. The rise in supplies, however, as
calculated by the Department of Agriculture is considerably
smaller than in the preceding year.
The volume of farm marketings was
sustained at a record high in 1954
INDEX, 1 9 4 7 - 4 9 = 100
120
LIVESTOCK AND
PRODUCTS
no
Table 2.—Cash Receipts From Farm Marketings Including CCC
Loans
100
CROPS
[Billions of dollars]
90
Total
Year
Crops
Livestock and
products
80
1946
1947
1948. _ _
1949
Prices received were moderately lower
INDEX, 1910- 14 = 100
1950
1951- _
1952
1953 v
1954
350
LIVESTOCK AND
PRODUCTS
300
_
_
_ _ _
24.6
29. 7
30. 2
27. 9
10. 8
13. 2
13. 1
12. 6
13. 7
16. 5
17. 1
15. 4
28. 3
32. 8
32. 7
31. 4
29. 9
12. 4
13.2
14. 3
14. 2
13.2
16. 0
19.6
18. 4
17. 3
16. 7
p—Preliminary.
Source: U. S. Department of Agriculture.
250
ALL
COMMODITIES
CROPS
200
j
150
j
t
t
Cash receipts also declined
BILLIONS OF DOLLARS
35
30
ALL MARKETINGS
(INCL.CCC LOANS)
25
LIVESTOCK AND PRODUCTS
20
15
10
CROPS
_J
1946
I
47
48
49
I
50
i
51
52
53
54
DATA: AGRICULTURE OEPT.
0. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
55-7-10
A wheat crop of 970 million bushels was harvested in 1954,
about 200 million bushels less than a year earlier. Though
this is the smallest crop in more than a decade, it is slightly
larger than estimated domestic consumption and exports
during the current year. The carryover on July 1, 1954, was
900 million bushels. Despite the large supply of wheat,
prices strengthened during the latter part of 1954 as farmers
placed 350 million bushels of the new crop under loan, reducing the supply of "free" wheat, i. e., wheat not in CCC stocks
or pledged for price-support loans.
Marketing quotas for the crop to be harvested in 1955 are
smaller than for the crop harvested in 1954 and fall seeding
of the new crop was reduced 6 percent from a year earlier.
Support price for the new crop will be 82% percent of parity
price for wheat, but not less than $2.06 per bushel as compared with the 1954 support price of $2.24.
The 1954 cotton crop was about 13.6 million bales, down
nearly 3 million bales from 1953. Such a crop is about equal
to estimated domestic consumption and exports during the
current year in contrast with the preceding year when about
4 million bales were added to the carryover, bringing the
total to 9.6 million bales as of August 1, 1954. Cotton
growers have ratified marketing quotas and acreage allotments for the 1955 crop which are about 15 percent lower
than in the past year. The price received by farmers for f
cotton during the harvest season was around 34 cents peri k
pound, almost 2 cents above a year earlier. The 1954 price
was only slightly below parity.
February ltKV>
SURVEY OF CURRENT BUSINESS
21
Corn acreage in 1954 was nearly as large as in 1953 as
many farmers in the corn belt chose to plant more than their
acreage allotment at the expense of losing eligibility for price
support loans. Drought in a considerable area reduced
yields, however, and production was slightly under the
3-billion-bushel average for the past decade and 7 percent
below 1953. At the same time, however, production of other
feed grains—oats, barley, and grain sorghum—was expanded,
not only in the corn belt, but in the cotton belt and in the
wheat areas as well. Total feed grain production exceeded
1953 and other recent years.
The increase of about 5 percent in supply of feed concentrates available for the current feeding year is somewhat
larger than the year before, but there is also some increase
in the estimated number of livestock to be fed. Feed grain
production in 1954 added to a record carryover and a large
supply of by-product feeds provides a near-record supply
per animal unit for the 1954-55 feeding year.
quarter of 1954, but tapered off after a reduction in support
prices. A net outflow into commercial channels occurred in
the latter part of the year. With somewhat lower prices and
increasing population, consumption of dairy products was
higher in 1954 than in 1953, and the increase in production
only about half as great as the year before, with much of the
Shifts in livestock expansion
Table 3.—Volume of Farm Marketings and Home Consumption
[1947-48=100]
Year
All commodities
Total
crops
All livestock
All commodities
All
crops
All livestock
1920
62
65
64
85
90
88
1925
67
72
70
85
91
89
1930
69
75
72
82
89
86
61
70
66
70
81
76
74
76
83
81
87
84
86
95
104
107
80
82
90
94
99
82
84
90
87
92
93
95
103
112
113
89
90
98
101
105
89
87
96
98
106
106
104
103
97
101
99
97
100
97
103
93
90
98
98
104
111
108
105
97
99
104
101
102
97
101
96
94
97
106
100
102
104
108
112
115
99
101
104
109
109
93
89
92
97
90
99
99
101
103
105
96
96
97
100
98
1935
The strong uptrend in livestock output of the past few
years continued in 1954, though during the course of the
year there was evidence of some shifting among the principal
products. For the period since 1948, which marked a low
point in the cattle cycle, livestock marketings have expanded
more rapidly than population. The rise became more rapid
after 1951, with livestock marketings expanding 12 percent
in the three years ending in 1954. The increase was accompanied by a decline of about one-fourth in the price of
livestock and livestock products with the downtrend continuing through the end of 1954.
Two of the principal products of this group—beef and
dairy products—had developed surplus problems during the
closing months of 1952 and 1953 which necessitated special
government action to stem the decline in prices. In different
ways each of these "marketing difficulties" was somewhat
eased during 1954. Though beef cattle marketings were up
substantially again in 1954, they were more evenly distributed
during the year and prices were relatively stable. At the
time of the usual seasonal peak for range cattle marketings in
the autumn, a broad demand developed for feeder cattle and
a substantially higher proportion of cattle went into feed lots
for further finishing than in the corresponding period of 1953.
As a consequence, the seasonal breaks in cattle prices which
had characterised 1952 and 1953 did not appear in 1954.
There was also evidence that the cattle cycle was approaching a peak, following a sustained rise of several years. Calf
slaughter was up substantially in 1954 and cow slaughter was
also higher. Steer slaughter was lower following a decline
in the number of steers on farms during the preceding year.
The rate of accumulation of dairy products slowed in 1954
and price support purchases were reduced during the course
of the year. Such purchases were quite large in the first
Per capitai
Total
_
.
1940
1941
1942
1943
I944_
1945
1946_
1947
19481949
1950
1951
1952
1953
1954
p
.
_ _
»—Preliminary.
Source: U. S. Department of Agriculture, Agricultural Marketing Service.
increase coming in the first half of the year. Stepped-up
surplus disposal programs, both domestic and foreign, resulted
in a rise in governmental stocks during 1954, only about half
as large as that occurring in 1953; as a result of a bulge in the
first quarter, however, government purchases in 1954 were
about as large as in 1953.
For the shorter-cycle livestock, hogs and poultry, there
was an expansion in production in 1954. The expansion was
moderate in the case of hogs, and the last half of the year
showed a decline from the first half as prices averaged considerably lower than in the 2 proceeding years. For poultry,
the expansion was substantial, with marketings rising 6 to 8
percent for the year as a whole, gaining momentum during
the year, and bringing a sharp decline in poultry and eggprices and in cash receipts.
New Construction
THE VALUE of new construction put in place totaled $37
billion in 1954, about $2 billion above 1953. This was a
major force which helped to sustain economic activity during the period. Almost all of the increase was in private
construction.
There were substantial gains in new home building over
the previous year, and a small rise in other private and in
total public construction. The demand for new nonfarm
housing increased throughout the year. The high rate
in recent years had been sustained by such factors
as high incomes, the substantial accumulation of
liquid assets, a growing population and the movement to
the suburbs. These factors also contributed to expanded
requirements for commercial plant and for institutional and
public service facilities.
A feature of the year was the increased volume of funds
SURVEY OF CURRENT BUSINESS
22
that were supplied to finance last year's construction. With
yields on long-term securities lower in 1954, home mortgages
became more attractive to lenders. The more favorable
terms at which mortgage money was available found a ready
response by builders and home purchasers. In addition, the
groundwork was laid for a further bolstering of residential
demand with the enactment last summer of Government
legislation liberalizing FHA mortgage terms.
New Construction Activity
BILLIONS OF DOLLARS
30 -
to
1952
1951
1954
1953
Private housing starts rose through the year-'
the fourth quarter rate was as high as 1950
MILLION UNITS
1.5 —
L"»;
1.0 —
.1U
"i
'<!
-
'"j
"
—
c-
1950
51
52
ANNUAL TOTALS
1954
53
QUARTERLY TOTALS, SEASONALLY
ADJUSTED, AT ANNUAL RATES
DATA: 8.D.S. A. a B. L. S.
U.S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
There was little change in total construction costs on the
average from 1953 to 1954. In real terms the aggregate construction figure for 1954 as a whole was a record, although
of the major components, residential activity was not quite
so high as it was in 1950, while real public construction expenditures were still well below the World War II peak.
After declining slightly from mid-1953 to the early part of
1954, construction costs as measured by the Department of
Commerce Index began to rise again, with advances in prices
of cement, lumber and structural steel. In addition, average
hourly earnings in the building trades advanced in the fall,
after a period of stability earlier in the year.
Housing dominates rise
Construction activity showed a steady rise through 1954,
in contrast to 1953, when comparatively little change within
the year was apparent in the aggregate. In the fourth quarter of 1954 the seasonally adjusted rate of expenditures was
9 percent higher than it was in the final quarter of 1953.
Most of the rise within the year was attributable to private
residential construction. After a seasonally adjusted decline
from the second to the fourth quarter of 1953, activity in
this area rose over $3 billion to an adjusted annual rate of
$14.8 billion in the final three months of 1954.
Starts approach 1950 rate
Builders started 1.2 million nonfarm units in 1954, the
largest number since 1950, when 1.4 million units were put
underway. Last year's performance represents an advance
over each of the previous three years when starts were
relatively constant at just over 1 million units. As the
bottom of the accompanying chart shows, in the fourth
quarter of the year, starts had reached a seasonally adjusted
rate equal to the record 1950 average. The heavy flow of
FHA and VA applications continued through the year-end.
Noteworthy about the 1954 expansion in homebuilding
was the extent of Government support in the form of guaranteeing or insuring the financing of new homes. Almost one
out of every two private nonfarm housing units started
last year had its financing underwritten by FHA or VA.
This was somewhat above the 38-40 percent in the preceding 3 years and about the same proportion as in 1950. By
the final quarter of 1954 the proportion of units that were
Government underwritten had increased to about 60 percent. In addition, if apartment house construction is excluded it is clear that 1954 was a record year for Government
underwriting of single-family construction. Table 4 presents historical data on the relative importance of FHA and
VA in housing starts.
Construction was an expansionary factor in 1954"
the value of residential activity rose 13 percent
1950
February 1955
VA program increases most
The increase in the Government share of financing last
year was attributable almost entirely to the VA program.
The FHA proportion—just under one-fourth—was about
the same as in 1953 and somewhat low compared with other
postwar years. For 1954 as7 a whole the number of units
guaranteed by the Veterans Administration exceeded for
the first time the number of starts that were FHA-insured.
That a rise in FHA starts is in prospect, however, is indicated
by the heavy inflow of FHA applications following the
enactment of new housing legislation last summer. The
most important features of the new law with respect to
private home construction were lengthened loan maturities
(up to 30 years) and higher loan-value ratios now permitted
over a wide range of house prices in the FHA program.
Financing of existing houses was also made easier.
Favorable terms stimulate demand
The differential growth of the two Government programs
is also a reflection of differing financing requirements and
suggests the character of the forces that are stimulating
current housing demand. First, to an increasing extent,
veterans are purchasing with no dow^npayment and with
long mortgage maturities. Last year one out of four VA
home loans closed were of the no-downpayment variety as
against only 7 percent in 1953. By the end of the year
three-eighths of all VA units were of this type. Longer
maturities have also become much more prevalent; about
two-thirds of VA loans closed last year had maturities of
25 to 30 years, in contrast to an average of 38 percent with
such maturities in 1953.
SURVEY OF CURRENT BUSINESS
February 1955
Other private construction
Private construction other than residential showed mixed
trends. The total for the year was over $12 billion, up
slightly from the previous year. Industrial, railroad and
farm construction fell by 10 percent or more, and outlays by
public utilities were about unchanged. Store, warehouse and
office building construction and the group embracing religious, education, and social and recreational facilities
each rose about one-fifth from the previous year.
Table 4.—Total Private Nonfarm Housing Starts and Percentage
Government-Underwritten
units)
1939
1946
1947
1948
1949
1950
1951
1952
1953
1954
_
___
_____
_ ___ _ __
1st quarter
2d quarter
3d quarter
4th quarter
Total
FHA
VA
Percent
34. 5
Percent
34. 5
Percent
22. 9
52. 0
43. 4
47. 4
10. 4
27. 0
32. 2
36. 8
12. 5
25. 0
11. 2
10. 6
1, 352. 2
1, 020. 1
1, 068. 5
1, 068. 3
1, 196. 1
50. 8
40. 4
39. 4
38. 2
48. 7
36. 0
25. 8
26. 2
23. 6
23. 1
14. 8
14. 6
13. 2
14. 6
25. 6
232. 2
326. 5
339. 3
298. 1
39. 4
45. 1
51. 0
57. 4
21. 5
23. 1
23. 2
24. 3
17. 9
22. 0
27. 8
33. 1
458.
662.
845.
913.
988.
4
5
6
5
8
sources. These indicate that about half the new stores
being planned for 1955 by multi-unit organizations are ir new
shopping center locations, although only a small fraction of
existing chain units are so located at present.
Industrial construction declined for the second successive
year as more post-Korean expansion programs in the manufacturing area were brought to completion. Railroad outlays also declined—about 15 percent from 1953—partly as a
result of the sharp drop in traffic and in railroad operating
income in 1954. Outlays by telephone and electric utilities
were little changed from high rates which earlier characterized these industries.
Divergent trends in public construction
Government
Private starts
23
Source: Based on Bureau of Labor Statistics, FHA and VA data.
Commercial construction showed the most pronounced
gain over 1953; in real terms the volume was a postwar high
and the largest since 1930, though still well below the amount
of work done in the late twenties. New office building construction, modernization of existing stores, and the development of new shopping centers in outlying areas dominated
activity this year as in other recent years. The trend to
the suburbs is suggested by data recently compiled by trade
Aggregate public construction in 1954, about $11% billion
in total, was up a little from 1953. Spending on State and
locally owned facilities (including Federal grants-in-aid which
totaled $.7 billion in each year) rose from $7.2 billion to $8.0
billion. Federal expenditures dropped from $4.2 billion to
$3.4 billion.
With the defense mobilization program less in the forefront, there has been a shift in the nature of public construction expenditures as well as in the importance of the roles
played by Federal and local governments. Federal programs
for the construction of defense facilities are well past their
1952 peak. Indeed, three-fourths of the decline in Federal
construction outlays last year was attributable to lower outlays for military and related installations. Nonmilitary
Federal expenditures have also been reduced, such as those
for veterans7 hospitals and conservation and development
programs, although outlays for road construction increased.
In contrast, State and local construction related in large
part to the school, highway and other facility needs of the
increased population and its shift to outlying areas have
expanded considerably. The major exception was public
housing, where statutory limitations on Federal assistance
have sharply lowered public housing starts. Schools, hospitals, highways, water and sewer facilities all registered sizable increases over the previous year. Much of the 1953-54
advance in highway construction was concentrated in new
toll facilities.
Retail Trade
RETAIL SALES totaled $171 billion in 1954, little changed
from the record reached in 1953. Activity was sustained by
the generally favorable financial position of consumers including a somewhat greater flow of after-tax income and
large holdings of liquid assets. Though utilized less, on the
whole, than in 1953, credit was readily available during 1954.
In some areas, competitive factors became increasingly felt,
and retailers engaged in more extensive promotional activity.
The year saw considerable divergency in the sales experiences of the various kinds of trade, with the nondurable
goods lines generally faring better than stores selling primarily durable goods. Nondurable goods stores sales rose
$2.1 billion or 2 percent from 1953 to 1954. Offsetting was
a 4 percent reduction in sales of durables.
To some extent the trend in retail activity within 1954 was
similar to that of total economic activity—-the significant
difference being the fact that retail trade recovered all of
its earlier loss. After a decline from mid-1953 through the
early months of 1954, seasonally adjusted sales firmed up
in the second and third quarters and advanced sharply at
the year's end.
Although lagging behind year-ago rates through most of
the year, the sales spurt in the last two months, and more
especially in December, was sufficient to make up the deficiency in the earlier months. Sales in the fourth quarter
of the year reached a seasonally adjusted annual rate of
over $174 billion, to exceed the previous high reached in
the second quarter of 1953. Sales in every major line of
trade were higher than in the final quarter of 1953.
SURVEY OF CURRENT BUSINESS
24
Durable-goods sales lower
The automotive group showed the greatest fluctuation in
volume of sales during the year. Sales of motor vehicle
dealers after recovering from their January 1954 low were
almost back to the 1953 high point in June and then declined
rapidly through October as a result of widespread factory
shutdowns for model changeovers. The timing of the model
changes in 1954 was, on the average, advanced about a
month as compared to other recent years. In addition, the
changeovers were somewhat more extensive than usual. As
a result the falling off in production and sales in the JulyOctober period was more rapid than in the same period of
1953.
As new models became available, trade in this area increased sharply. For the automotive group as a whole sales
in the fourth quarter, on a seasonally adjusted basis,
amounted to $8% billion, only 4 percent below the high
reached in the second quarter of 1953. Sales for the year as a
whole, however, were nearly 5 percent less than in 1953.
Retailers sold five and one-half million new automobiles
in 1954, 5 percent less than in 1953 but higher than in any
other postwar year except 1950. New car inventories were
reduced about 160,000 units during 1954.
In the lumber, building materials, and hardware group,
sales on a seasonally adjusted basis declined through April
but thereafter exhibited a definitely rising trend.
Sales of Retail Stores
1954 sales equaled 1953 as a result of
fourth quarter record
BILLIONS OF DOLLARS
200 -
J50 —
1
too -
50 -
1951
53
54
52
ANNUAL TOTALS
1954
QUARTERLY TOTALS, SEASONALLY
ADJUSTED, AT ANNUAL RATES
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
The upward movement was due mostly to changes in
activity at lumber and building material dealers, although
hardware stores also showed a moderate upswing in the latter
part of the year. Lumber prices began rising after the first
quarter and were up about 4 percent by the year's end.
For the furniture and appliance group as a whole a slight
decline was indicated in 1954 from 1953. In this group,
however, a drop for appliance and radio stores was almost
offset by a rise for furniture and homefumishings. Seasonally adjusted sales of household appliance and radio stores
exhibited a moderate downtrend through most of the year.
Part of the decline was due to the weakening price situation
as discounting practices became more widespread.
February 10.1
The number of radio sets sold at retail in 1954 was dowi
somewhat from the previous year, while television set sale
rose, according to trade sources. Most of the increase ii
television sets occurred in the last quarter of the year
Average unit prices for both commodities were lower than ii
1953. Among big-ticket home appliances, 1954 sales of dish
washers, clothes dryers and room airconditioners were u]
sizably, while the volume of freezers and ironing machine!
was reduced. Most types of small electrical appliance;
moved at a slower rate than in 1953; broilers and port-able
food mixers were significant exceptions.
Nondurable sales continue strong
After moving along a high plateau in 1953 and through the
early part of 1954 overall sales of nondurable goods stores
began moving upward again in the latter part of the year,
With the exception of the apparel and general merchandise
stores which showed small declines from 1953 to 1954, all
the major nondurable groups registered advances over 1953.
Expenditures at food stores, which had been rather stable
through 1953 and the first half of 1954, rose in the final six
months and were higher for the year as a whole. With food
prices, on the average, about unchanged from a year ago,
the advance in expenditures reflects a rise in the physical
volume of food purchased. Sales at eating and drinking
places also exceeded 1953.
A large increase in sales for the year was reported by
gasoline service stations. The steady rise for these establishments in recent years is in large part a reflection of the
increasing number of automobiles on the road, the requirements for higher quality gasoline for some of the later model
cars, and the continued increase in demand for services. In
the past two years the number of passenger car registrations
have increased by over 4 million.
Although total apparel store sales last year were slightly
below 1953, no significant trend was evident. Heavy
Christmas bimng, however, lifted the December sales to a
high for the year and above the low point reached in the last
quarter of 1953.
Department stores sales for the year 1954 were also slightly
below the previous year. This reflected the relatively low
volume of sales in early 1954. On a seasonally adjusted
basis, the trend in activity was upward during the year and
sales in the fourth quarter were about 8 percent above the
first, and about equal to previous high marks.
Since mid-year 1954, new orders placed with manufacturers
by department stores have been above the low year-ago
figures by substantial margins. Outstanding orders which
had been below y ear-ago rates for the first nine months,
exceeded the previous year in the final quarter.
Drug store sales, which in the first quarter of this year had
risen, on a seasonally adjusted basis, from the last quarter of
the previous year moved along at a fairly steady rate thereafter. Total sales in 1954 established a high mark for this
group.
Groceries lead chains in sales gains
In the overall sales picture in 1954 there was lit tie difference
in trends between chain store organizations and all retail
stores. Chain organizations operating elevenr or more stores
had a volume of nearly $32 billion for the 3 ear, an increase
over 1953 of about 2}<> percent. Excluding motor vehicle
dealers from the comparison since chains are unimportant in
this group, this was only a slightly better relative change than
that indicated for sales of oil retail stores. As a result the
SURVEY OF CURRENT BUSINESS
February
1954 share of the total business in these trades going to
chains did not change significantly from the 22 percent in
1953.
Table 5.—Sales of Retail Stores, by Kinds of Business, 1951-54
[Millions of dollars]
If 51
All retail stores!
Durable-goods stores
1<)53
158 223 1f>4 085 170 741
]
Automotive group
Motor vehicle, other auto
dealers
Furniture and appliance
uroup
_
- Lumber, building; hardware
i^roup
Nondurable-goods stores
19 f>2
1
Apparel group
Drug and proprietary stores _
Eating and drinking places- _
Food group
Grocery stores
Gasoline service stations
195 4
170,
f>G4
54, 479
55, 270
60, 371
58, 173
9*
9,S
337
33, 320
31, 665
?6 393
31 498
29 Q69
8 9?,6
9, 125
9, 079
10, 421
10, 1 35
103 744 108, 815 110, 370
112, 401
1 5(>
9fi 9S9
*
fi04
10 ?OS
10, ?00
4, 547
12, 207
37, 6?,6
30 346
9, 151
General merchandise group _ _ 18, 202
Department stores, excluding mail-order
10, 095
10,
9,00
10, 633
10, 256
4, 717
12, 688
30, 771
4, 790
13, 003
40, 777
10, 536
10, 147
4, 940
13, 127
41, 635
34 993
11, 443
18, 694
19, 006
18, 857
10, 277
10, 370
10, 272
39 ?38
9, 976
33 623
1. Sales of jewelry stores, other durable-eoods storey and other nondurable-goods stores are
not shown separately but are included in the total.
Source: U. S. Department of Commerce. Office of Business Economics and Bureau of the
Census.
Practically all of the increase in chain store sales from
1953 to 1954 stemmed from grocery stores. These stores,
whose sales account for about two-fifths of all chain store
business, increased their dollar volume by about $1 billion,
or nearly 8 percent from 1954. Sales by groceries with from
one to ten outlets on the other hand were virtually unchanged
from 1953 to 1954. As a result of these gains grocery chains
continued to increase their share of all grocer}7 business;
chain groceries with eleven or more stores, which had accounted for close to 37 percent of the dollar sales of all
groceries in 1953, raised this proportion to over 38 percent
in 1954.
Sales of both the large and the medium and smaller inultiu n i t grocery7 organizations with eleven or more outlets
advanced in 1954, but those of the medium and smaller
sized groups advanced more. For example, while total chain
grocery sales were up about 8 percent for the year, if the very
largest multi-unit organizations are excluded from the comparison, the rise in sales for the year for the remainder
exceeds 10 percent.
This is related, in part to extensive activity in the construction of new supermarkets in newly developed shopping cen-
328930°—55-
25
ters in which the medium sized chains have been leading on
a relative basis. It is noted that the very largest chain
organizations are still continuing to reduce the number of
stores in operation, tending to drop the smaller and less
efficient stores. However, the rate of decline in number of
stores has been slackening.
Ratio of sales to income declines
The ratio of retail purchases to disposable personal income
declined from 68.3 percent in 1953 to 67.3 percent in 1954.
The reduction reflected the slight rise in income and unchanged sales.
The decline in the ratio among the major trade groups was
concentrated largely in the durables where it fell from 24 to
23 percent. The most significant change was that for motor
vehicle dealers. For this group the ratio of 12.6 percent
in 1953 fell to 11.8 percent in 1954. The 1954 value, however, was still well in excess of the ratio in any of the years
prior to World War II.
Table 6.—Ratio of Retail Sales by Groups to Disposable Personal
Income, 1951—54
[ Percent]
1951
1952
1953
70. 0
69. 3
68. 3
67.3
24. 1
23. 3
24. 1
22. 9
12. 5
12. 0
13. 3
1 2. 5
11. 6
11. 1
12. 6
11. 8
3. 8
3. 8
3. 6
3. 6
4. 5
4. 3
4. 2
4. 0
45. 9
45. 9
44. 1
44.4
Apparel group
Drug and proprietary stores.
Eating and drinking places _ _
Food group
Grocerv stores
Gasoline service stations
4. 5
2. 0
4
16. 6
4.
2.
5.
16.
1
9
2
3
13. 4
0
13. 6
4. ?,
13. 4
4. ?,
4. 0
1. 9
5. 2
16. 4
13. 8
4. 5
General merchandise group __
Department stores, excluding mail-order
8.
7. 9
4. 5
A
7. 6
4. i
All retail stores
Durable-goods stores
J
l
Automotive group
Motor vehicle, other auto
dealers
Furniture and appliance
group
Lumber, building, hardware
group
Nondurable-goods stores
l
5
0
4
8
3
4.
1.
5.
16.
1954
7. 4
4. 1
1. Sales of jewelry stores, other durable goods stores and other nondurable goods stores are
not shown separately but are included in the total.
Source: U. S. Department of Commerce, Office of Business Economics and Bureau of the
Census.
The ratio of nondurable goods to disposable consumer
income rose somewhat in 1954, largely as a result of the
increased expenditures at groceries and gasoline service
stations. For both of these types of retail trade the ratios
were at new highs.
Foreign Business
LHE contraction of domestic business in 1954 lowered
imports, but with economic expansion continuing abroad
sales of goods and services to foreign countries rose by
about $500 million.
Merchandise and services imports declined by about $600
million and United States Government foreign grants and
net capital outlays shrank by about $700 million. The
decline in our foreign expenditures as well as the rise in our
exports, totaled about $1.8 billion; thus our international
transactions acted as a stabilizing influence on domestic
business activity during the past year.
The upswing in production and incomes did not take place
in all foreign areas. Coffee and cocoa prices, after a sharp
rise during the first half of the year, started to decline, and
the international market for sugar and wool weakened.
This affected our business with Latin America. The decline
in economic activity in Canada, although considerably less
than in the United States, reduced our sales in that market.
Table 1.—Major changes in the United States balance of payments
from 1953 to 1954 1
[Billions of dollars]
Foreign expansion continued
The fact that this net change in our foreign transactions
could be absorbed by foreign countries was due to two
factors.
One was the first in the outflow of United States capital
which amounted to about $1.2 billion, and the other was
the fact that the large excess in foreign dollar receipts in
1953 permitted a reduction in net foreign receipts of about
$600 million last year without causing a deterioration in the
financial position of foreign countries as a whole. On the
contrary, preliminary data indicate that transactions with
the United States added an additional amount of about
$1.7 billion to foreign gold and dollar assets in 1954. The
total of net gold and dollar payments to foreign countries
since 1950 thus amounted to about $9.5 billion, and, therefore, more than offset the net gold and dollar payments by
foreign countries to the United States during the early
postwar years which amounted to $7.1 billion.
The rise in the outflow of private United States capital
reflected the easier credit supply in this country and higher
yields on capital abroad. These conditions encouraged large
foreign capital issues here during the first half of the year,
and facilitated a substantial outflow of medium and shortterm capital during the second half. To some extent the
rise in short-term claims on foreign countries offset the rise
in foreign dollar assets. Direct investments appear to have
been smaller than in 1953.
The rise in foreign gold and dollar assets in 1954 as well
as during the preceding years accrued mainly to Western
Europe. The rising strength in the financial position of
nearly all countries in that area facilitated further relaxations
of controls on their international transactions and a continued rise in their production and incomes.
This economic expansion resulted in increased purchases
in this country which more than offset the decline in our sales
in other areas. Particularly it compensated for the decline
in our purchases of many raw materials, both foreign and
domestic, and contributed to the stabilization of raw material
prices. The stability in these prices in turn, reduced the
incentives for the liquidation of inventories in this country.
26
Change
1953
1954
11. 0
5. 5
10. 3
5. 6
2. 0
1. 3
.4
1. 6
12. 4
4. 6
12. 8
4. 7
.4
.1
2. 3
1.7
-.6
United States expenditures abroad
United States imports:
Merchandise
Services _ _
United States Government grants 2 and
capital (net)
United States private capital
Total United States expenditures _
_
_
Foreign expenditures in the United States
United States exports:
Merchandise 2
Services
Foreign accumulation of gold and dollar assets.
1. Based on preliminary estimates.
2. Excluding grants in the form of military goods and services.
Source: U. S. Department of Commerce, Office of Business Economics.
Various measures taken by the Government of Japan to
correct the balance of payments disequilibrium of that country also affected our exports. Before the end of the year,
however, both Canada and Japan shared in the general upswing of business activity, improving also the market for our
exports.
Export markets expanded
The rising trend in United States merchandise exports
highlighted developments in United States foreign trade
during 1954. By the final quarter of the year exports (excluding military-aid items) had climbed to $3.5 billion or
$300 million more than in the last quarter of 1953 (see chart).
For 1954, taken as a whole, exports totaled $12.8 billion,
having gained by about $0.4 billion over 1953.
February 1955
Western European countries stepped up purchases in the
United States by over $400 million, thus accounting for more
than half the rise in overseas exports from 1953 to 1954.
The largest increases occurred in shipments to the Netherlands, Germany, and the United Kingdom—those countries
which over the past two years had the largest additions to
their reserves of gold and dollars.
The new measures adopted by these and other European
countries to liberalize dollar imports were primarily to establish greater freedom in markets for raw materials to supply
their rising industrial requirements. Manufacturing output
in Western Europe had moved up sharply in the second
quarter of 1953 and continued to advance in 1954. Comparing the first three quarters of 1954 with the corresponding
period of 1953 the rise was at least 9 percent.
Hence the increase in United States exports consisted
largely of nonferrous metals, cotton, industrial chemicals,
oilseeds and other raw materials to supply those industries
which generally contributed most to the overall industrial
expansion in Europe.
Even with the increased imports from the United States,
however, inventories of many of these raw materials in the
United Kingdom and Continental Europe were drawn down
during the year.
Sales of cotton and other agricultural commodities for
foreign currencies under Section 550 of the Mutual Security
Act of 1953, and of surplus fats and oils at competitive world
prices, also contributed to the higher exports to Europe.
Through November 30 reported shipments to Western
Europe in 1954 under the Section 550 program—principally
cotton, tobacco, wheat and lard—amounted to $133 million
as compared with about $14 million in 1953 when the program was first introduced.
Varied trends in other areas
Exports to Australia, New Zealand, and South Africa also
were affected favorably in 1954 by the liberalization of
import controls. Although Australia announced the reimposition of new import restrictions in the latter part of the
year, South Africa, Pakistan, and India recently took further
steps to open their markets to United States exporters.
The decline in exports to Canada reflected the easing of
domestic business there. Seasonally adjusted data show
that the export decline which began in the middle of 1953
was followed by a moderate rise in the second quarter of
1954.
Thereafter through October shipments to Canada
were relatively stable and had not yet reflected the recent
strengthening in the Canadian economy.
Brazil which had rigidly curtailed its imports from the
United States for nearly two years, permitted a substantial
increase beginning in the second quarter of 1954. At the
same time, shipments to Colombia were higher by about $60
million, accounting for most of the remaining rise in exports
to Latin America.
Through October, however, export data had not yet reflected the new tightening of import restrictions by these
two countries whose prospective dollar incomes may be
affected by the reaction in coffee prices from the high peak
reached during the summer of 1954 after a rapid and
substantial advance.
During 1954, Japan also tightened its controls over dollar
imports as earnings from military expenditures declined and
domestic anti-inflationary measures were undertaken.
Nevertheless, exports to Japan were somewhat higher in
1954 than in 1953 due mainly to heavy shipments of cotton
and wheat financed by the United States Government.
27
SURVEY OF CURRENT BUSINESS
Imports lower
After allowing for seasonal variations, imports appear to
have remained rather stable during the year at an annual
rate of about $10.3 billion after a decline during the second
half of 1953.
The $660 million drop in imports for 1953 to 1954 was due
almost entirely to lower purchases of metals, fibers, rubber,
fats and oils, hides and skins, and other industrial raw
materials.
Food imports decreased in quantity but were maintained
in value owing to higher average unit prices for coffee and
cocoa. Purchases of newsprint were as high as in 1953 and
the value of petroleum imports increased, mainly because of
higher prices. Imports of most finished goods (except
clocks and watches) also compared favorably with those in
1953.
Trends in Foreign Trade
TOTAL EXPORTS
GENERAL IMPORTS
(EXCL MILITARY AID)
16
1952
14
1954
1953
g 12
1953
10
I
I
I
QUARTERLY
_f
TOTALS, AT ANNUAL RATES
"** Quarterly data adjusted for shipping strike; see text footnote
DATA:CENSUS BUREAU
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
5 5 - 7 -13
The stability in imports of raw materials during the first
half of the year and the slower rise than in domestic manufacturing activity during the latter part of 1954 is explained
in part by private and Government inventory policies.
While manufacturers' inventories of purchased materials
began to decline early in 1954, stocks of some imported
materials, especially metals, continued to accumulate.
Inventories of lead and zinc kept rising until the third
quarter, and refinery stocks of copper until May when the
Government purchased 100,000 tons of Chilean copper for
its stockpile. Strikes which developed here and abroad
during the second half of the year caused a liquidation of
inventories.
Note.—Chart data were adjusted for the shipping strike in March
1954 by transferring $600 million of exports and $200 million of imports
(at annual rates) from the second to the first quarter of the year.
SURVEY OF CURRENT BUSINESS
28
February 1955
duction and in the demands of other industrialized countries.
Over the past year consumption of a number of imported
raw materials including wool, hides and skins and certain
fats and oils has declined relative to consumption of similar
domestically produced items. Petroleum and rubber were
major exceptions, however.
Developments in the steel and aluminum industries also
involved a partial shift from imports of fabricated products
to imports of unprocessed raw materials, and hence a decline
in the relationship between the value of imports and the value
of the national product. The expansion in domestic aluminum production entailed greater imports of bauxite, but
this did not offset in full the reduction in the value of aluminum imports as compared with 1953. Likewise the greater
imports of iron ore supplied by the steel industry's new producing facilities abroad coincided with a 50 percent drop in
our imports of steel mill products with the lowering of general
demand in this country for these products in 1954.
It appears that earlier in 1954 the downward adjustment
in imports did not fully reflect the lower industrial requirements. Hence in the latter part of 1954, the rise in imports
may also have lagged behind the rising demand.
Government stockpiling of commodities which are imported (estimated by applying import unit values to net
quantities added to inventories) remained relatively stable
at an annual rate of $600-700 million from the second
quarter of 1953 through the third quarter of 1954. although
significant changes occurred in composition.
If tin is excluded, Government stockpiling of metals which
are important in our imports increased by perhaps $160
million in January-September 1954 over the first 9 months
of 1953. These higher purchases coincided in a number of
cases with reduced consumption and hence had a stabilizing
influence on domestic and foreign production.
Shifts from foreign to domestic sources of supply reflected
to a large extent fluctuations in market conditions outside
the United States brought about by changes in foreign pro-
NEW OR REVISED STATISTICAL SERIES
Indexes of Electrical Equipment Sales and Orders: Revised Series for Page S-341
[1947-49=100]
Household refrigerators, sales billed
Month
1934
January .
February
M arch
\ pril
May
June
__
July
\ugust
September . .
October
November
December
.._
...
Monthly average
1935
1936
1937
1939
1938
1940
1941
19462
1947
1948
1949
67.0
57.7
78.5
85.3
89.8
93.2
92.6
95.8
115.1
111.5
107.2
125. 5
128.8
114.2
124.9
109.8
112.0
100.3
115. 1
142. 4
181.0
168.0
167.0
168.8
139.9
121.0
167.7
123.1
93.1
78.6
78.1
77.9
83.0
67.8
65.4
97.5
93.3
106.0
107.6
95.7
80.5
88.3
1950
1951
1952
1953
9.6
22.4
41 2
72.3
75. 5
51. 5
28. 0
36.0
(53.4
79.3
72.7
47.6
35.3
53.9
79.8
89.1
96.4
69. 5
51.3
73. 6
105. 6
100. 4
99.8
80.2
31. 1
42.9
51.6
63.0
53. 1
31.1
44.8
59.7
72.7
75. 2
79.2
67.9
81.3
86.4
106. 2
120. 6
102.9
118.0
112.4 i
132. 6
151.3
136. 1 i
118.6
' 36. 2
32. 8
22. 0
10.9
8.2
8.0
19 8
45.7
32. 6
15.9
12.9
13.9
22.4
60. 1
31.4
23.5
13.0
22.9
36.1
57.8
36.1
24. 8
20.3
26.9
32.8
26. 3
27.6
18.4
10.2
9.5
14.1
47.5
27.4
21. 1
17.9
16.0
26.8
77.8
64. 6
35.2
27.6
25.0
36. 1
107.6 I
85.8
52.1
42.1 i
29.1 i
31.9
60.1
61.9
65.2
74.7
68.4
69.2
88.2
67.7
91.5
100.3
92.6
107.5
118.1
94.6
114.9
127.1
124.9
110.3
106. 9
104.2
104.8
85.5
69.9
81.9
154. 9
149.2
153.8
119.9
116.0
111.2
49.2
49.5
58.1
57.4
44.2
58.6
100.2
75.2
69.2
62.3
77.2
74.8
87.4
62. 6
62.2
46.4
35. 2
53.1
31.2
39.3
50.9
59.2
31.6
47. 1
69.3
93.2
51.4
85.0
111.4
103.6
145.6
86.7
77.4
76.5
'
Insulating materials, sales billed
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
20 5
20. 4
22.8
23.3
22. 8
19. 3
24.6
23.6
26.3
28.0
29.4
29.9
32.1
31.8
39.7
37.8
36.4
35.2
17.0
15.8
17.0
15.6
15.8
16.3
23.5
23.5
27.1
23.5
23. 9
24.9
34.9
31.4
32.8
32.4
32.2
30.0
54.2
55. 7
63.5
66. 7
76. 5
71.9
81.6
82.5
83.4
91.3
108.9
111.8
126. 6
123.1
120.1
122. 9
114.8
120.7
129.4
118.2
114.8
119.2
108. 5
111.1
121.0
110. 5
115.8
108.6
63.5
54.7
65.4
65.9
70.7
66.3
113.5
109.1
118. 5
118.3
105. 5
103.0
103.3
102.7
116.5
108.6
100.6
103.1
105.1
96.3
103. 6
86.9
77.3
76.4
98.2
104.9
121.5
112.9
131.9
130.7
176.2
164.1
187.5
178.6
177.7
173.7
151.4
145.7
148.8
150.0
142.6
137.7
174.2
176.5
190. 2
189.1
173.9
174.4
16.7 20.2
17.1
22.4
- - i 14.2
23.7
16.1
29.7
> 15.3
25.2
! 16.2
22.7
31.2
29.4
30.6
32. 6
31.1
34.0
32.4
31.9
33.9
30.8
23.1
19.7
15.3
19.6
22. 6
22.6
23.4
22.3
22.8
26. 5
28.9
36. 1
38.4
35. 1
31.4
34.5
34.2
41.3
41.7
49.3
74^7
80.5
70.3
74.3
95.3
96.7
108.7
114.0
109.9
113.5
123.7
123.3
122.1
125. 4
123.1
124.0
99.0
113.2
102.7
104.3
99. 5
94. 6
86.0
73.7
47.9
60.4
59.0
66.3
73.6
83.1
85.9
102.7
96.9
98.6
94.7
93.7
102.3
111.3
100.9
103.1
94.5
103.4
113.1
114.2
114.3
114.4
69.1
74.2
83.6
84.0
90.9
89.7
109.3
136.9
147.4
160.6
159.8
165. 1
145.9
161.2
150.1
160.2
145.2
131.7
122. 5
127.9
141.8
161.2
154.8
176.3
149.8
152. 8
152.6
154.4
129.6
133. 1
16.8
29.2
32.1
18.6
27.8
35.5
(58. 6
93.8
121.2
111.1
89.1
77. 3
106. 2
107.4
86.4
131.6
162. 7
146.7
162. 6
1947
1948
1949
1950 I 1951
1952
1953
1934
January
February
March
April
May
June
.
July
August
September
October
November
December
...
_.
!
j 14 8
14. 2
20.0
- 18.1
19. 2
20. 0
M onthly average
22. 8
Motors and generators, new orders
Quarter
:
1934
First quarter
Second quarter
Third quarter
Fourth quarter
..
.
-
..
..
Quarterly average
1935 1936
1937
1938
1939
24. 2
14.8
17.6
16. 1 20. 3 35.2
14.9
22.633.2
17. 4
22. 8 36. 1
48.5
44.3
35. 6
27.0
22.1
22.0
19. 7
21.6
25. 3
26.5
30.9
44. 2
15.8 : 20.8
38.9
21.4
32.2
1943
1944
1945
1946
180.5
120.2
129.0
133.4
91.7
110.1
111.2
101.2
94.7
88. 5
75. 6
99.0
92. 8 147. 9
134.7 1 126.8
150.8 j 99.3
158.8 1 126.2
95. 0
106.1
93.4
97.0
84.4
77.2
72.1
74.8
109.1
108.8
177.5
217.2
251.3
224.4
193.2
184.6
166.6
166.4
149.0
157.8
156.2
186. 3
171.3
144.6
170. 1 | 140.7
103. 5
89.5
134.2 125.0
97.9
77. 1
152. 8
213. 4
1(50.0
164.6
1940 j 1941
1942
!
•
!
!
33. 1
83. 9
40.2 10H. 2
47.6 108.5
73. 9 ; 106. I
147.2
214.1
178.6
140.3
31.7 i
i
48. 7 ! 101.6
i
i
!
j
!
1
Compiled by the National Electrical Manufacturers Association. Revisions reflect use of new base period.
2 Sufficient data not available to complete the index for 1942-45.
'•' Average for 6 months.
* BUSINESS STATISTICS
Wlontki
THE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1953 Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $1.50) contains monthly data for the years 1949 to 1952, 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 1949. Series
added or revised since publication of the 1953 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.
Data from private sources are pro-
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.
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
1953
1955
1954
January
December
February
March
April
May
June
July
Septem- October Novem- December
ber
ber
August
January
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates: t
National income, total
__.
bil. of dol _
Compensation of employees, total
Wages and salaries, total _ _
Private
Militarv..
_.
Government civilian. __
Supplements to wages and salaries
do
do
do
do
do
do
...
Proprietors' and rental income, total cf
do
Business and professional d*
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
Gross national product, total
299. 9
298.9
299.6
298 8
208. 8
197. 6
164. 1
9.9
23.5
11.2
206.4
194.6
161 2
9.7
23 7
11.8
206.6
194.9
161 5
9 5
23 8
11.7
207.2
195.6
161 6
9 6
24 4
11 6
208.9
197.2
163 0
9 5
24 7
11.7
49.1
25.9
12.3
10.8
49.4
25.6
13.0
10.8
49 0
25.9
12 2
10.9
48 5
25.9
11 6
10 9
48
26
11
10
33.1
32.5
17.4
15. 1
.6
8.9
34. 1
34.5
17.0
17 5
— .4
90
34. 9
34.5
17 0
17 5
4
9 1
33 9
34 2
16 8
17 4
_ 3
9 2
— 4
9 2
1
3
0
9
do ._
360.5
355. 8
356 0
355 5
362 0
Personal consumption expenditures, total
Durable goods-.. _
Nondurable goods
Services
do
_do._ .
do
do
229.7
28.0
118.7
83.0
230. 5
28.0
118.8
83.6
233. 1
28 8
120 0
84 3
234.8
28 9
121 1
84 8
237.7
29 9
122 1
85 7
Gross private domestic investment, total
New construction
Producers' durable equipment
_.
Change in business inventories . _
do
do
do
do
45.5
25. 7
24.0
-4.2
44.5
26.0
22.7
—4.2
45 6
27 0
22.4
—3 8
45
98
21
4
3
3
8
8
49 5
29 1
21 7
13
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...
Personal income, total
Less: Personal tax and nontax payments .
Equals: Disposable personal income
Personal saving§
do.
do
do
do
2
8
—.6
—1 1
—1 0
86.0
59. 8
50. 6
26. 2
81.9
55. 0
46.9
26. 9
78.3
51 3
44 7
27 0
75
47
42
27
6
9
1
7
74
45
40
°8
1
9
5
2
287.3
36.1
251. 2
21 . 5
285. 1
32.8
252. 3
23 8
285.7
32.9
252 9
19 7
286
32
253
18
2
9
2
4
289
33
255
18
0
1
9
2
:::
PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:f
Total personal income
Wage and salary disbursements, total
Commodity-producing industries
Distributive industries
Service industries
...
Government
bil. of dol_.
287. 0
284.9
285. 0
285. 0
284. 4
286. 2
286.5
285. 7
285.4
286. 6
286. 3
do
do
do
do
do
196.0
85.5
52.1
25 0
33.4
194. 7
84.5
51.9
24 8
33.5
194.7
84, 6
51.8
24 9
33 4
194. 5
84.2
52 0
25 0
33 3
194.3
83.7
52 0
95 2
33 4
195.0
84 2
52 3
95 2
33 3
195.5
84 0
52 5
25 5
33 5
195 7
83 4
53 1
25 4
33 8
195
82
52
25
34
195
82
52
25
34
196
82
52
26
S4
6. 7
50.2
23.8
14.4
6.6
49.6
23.9
14.8
6.6
49.6
23.9
15 0
6.6
48.9
23. 9
15 8
6 6
48.2
24.0
15 9
66
49 4
24. 0
15 8
66
49 2
24.1
15 8
6 6
47 9
24.2
15 8
4.1
4.7
4.8
4.7
4.6
4.6
4.7
4.5
Other labor income ...
.
do
Proprietors' and rental income
do
Personal interest income and dividends
do
Transfer payments.
...
do
Less personal contributions for social insurance
bil. of dol. .
5
7
8
8
2
4
4
9
9
2
1
9
9
1
2
' 289. 3
291.1
r 84 6
197 4
84 3
52 9
53 0
r 26 2
34 3
04 o
6 6
48 2
24.3
15 5
6 6
48 8
24.4
16 0
6 6
47 2
24.5
16 5
6 6
r 48 3
'24. 6
16 4
6 6
48 9
26 2
4.7
4.6
4.6
4.7
4.7
ia 7
Total nonagricultural income
.
do
269. 6
267. 9
268.2
lit*. 8
269.1
269. 7
270.3
270.6
270.2
271.1
272.3 ' 274. 6
276.1
T
Revised.
imnt?ev% Serie?>- Quar.terl7 ^nates ofnational income and product have been revised back to 1939 (annual data, to 1929): quarterly and monthly estimates of personal income, back to
1929 (monthly revisions prior to May 1953 appear in the 1954 issue of the National Income Supplement). For quarterly data prior to 2d quarter 1953, see pp. 8 and 9 of the July 1954 SURVEY
^Includes inventory valuation adjustment.
$ 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.
S-l
SURVEY OF CURRENT BUSINESS
S-2
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Survey
ber
February 1955
1954
January
February
March
April
May
June
1955
July
August
Septem- OctoberjNo ^m- Decemb
ber
ber
January
GENERAL BUSINESS INDICATORS—Continued
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly totals :t
All industries
7,666
6,240
6,918
6,629
16,894
do _
do
do
3,392
1,628
1,764
2,641
1 224
1 417
2, 932
1 336
1,597
2,706
1 230
1, 475
2,962
1,366
1,596
Mining
do
Railroads
do
Transportation other than rail
do
Public utilities
do
Commercial and other
do
Seasonally adjusted quarterly totals at annual rates:
All industries
bil. of dol
288
341
376
1,246
2 023
223
248
360
910
1 859
266
245
355
1 108
2 013
256
182
353
1, 058
2 075
276
174
340
1,134
2,009
28.56
27 48
27 19
27.00
12.22
1 10
1.26
1 52
4.46
8 00
11.87
95
1 06
1 47
4.29
7 84
11 37
1 06
92
1 36
4 43
8 05
11.30
1 02
.79
1 40
4.12
8 37
mil. of doL.
Manufacturing
Durable-goods industries
Nondurable-goods industries
Manufacturing
Mining
Railroads
Transportation other than rail
Public utilities '
Commercial and other
do
do
do
do
do
do
1
26.59
11.11
1.10
.62
1.39
4.07
8.30
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
M^eat animals
do
Poultry and eggs
do
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
2 939
2 927
1 466
1,461
348
763
334
2 629
2 611
1 195
1 416
329
790
276
1 960
1 946
643
1,303
313
703
267
2 014
1 990
538
1 452
342
813
279
1 914
1 881
494
1 387
345
758
258
2 062
2 033
'589
1 444
389
757
258
2 176
2 137
793
1,344
380
684
241
2 246
2 228
977
1 251
359
624
246
2,581
2,569
1,219
1,350
348
727
259
3,158
3 146
1,753
1,393
326
791
260
3 535
3 525
2 068
1 457
335
829
276
3,278
3,259
1,748
1,511
320
880
297
442
518
385
394
422
373
294
227
343
300
190
382
284
175
365
307
208
380
317
281
354
336
345
329
388
431
355
475
620
367
532
731
384
492
618
398
173
183
166
160
167
155
123
96
143
127
78
164
120
67
161
133
78
174
147
116
171
151
139
159
168
168
167
201
233
177
222
265
189
200
211
192
124
124
126
126
124
124
124
116
123
126
130
130
128
132
144
118
122
160
156
126
150
121
207
130
144
117
182
144
93
475
139
113
123
138
124
139
194
116
P2, 700
p 1,400
p 1,300
INDUSTRIAL PRODUCTION
Federal Reserve Index of Physical Volume f
Unadjusted combined indexf
1947-49~100
Manufactures
Durable manufactures
Primary metals
Steel
Primary nonferrous metals
ISIetal fabricating (incl ordnance)
Fabricated metal products
Machinery
Nonelectrical machinery
Electrical machinery
Transportation equipment
Autos
Trucks
Aircraft and parts
Instruments and related products
Furniture and fixtures
Lumber and products
Stone clay and glass products
Glass and pottery products
Miscellaneous manufactures
Nondurable manufactures
Food and beverage manufactures
Food manufactures
M^eat products
Bakery products
Beverages
Alcoholic beverages
Tobacco manufactures
Textile-mill products
Cotton and synthetic fabrics
Apparel and allied products
Leather and products
Paper and allied products
Pulp and paper
Printing and publishing
Chemicals and allied products
Industrial chemicals
Petroleum and coal products
Petroleum refining
Rubber products
'
»
r
do
do
do
do
do
do
do
do
do
do
125
140
110
114
145
155
126
149
137
172
126
140
113
115
145
155
124
146
132
172
128
141
113
114
147
155
123
147
134
172
128
140
108
106
147
153
121
145
132
172
125
137
107
105
147
150
120
141
128
166
125
136
108
108
147
148
121
138
126
162
125
135
109
109
149
147
122
137
125
162
116
125
94
96
142
138
116
128
119
145
125
132
100
97
139
144
124
138
118
176
127
135
103
102
137
145
124
145
122
189
••131
140
112
112
142
150
126
150
121
207
do
do
do
do
do
do
do
do
do
do
174
107
98
483
155
112
99
128
116
138
183
135
103
483
148
106
104
122
115
128
183
138
103
489
147
107
116
126
120
133
182
142
101
485
145
106
117
128
121
131
181
151
101
475
140
101
119
128
117
125
180
146
101
472
138
98
122
130
117
124
175
143
96
472
135
100
115
131
115
127
165
125
78
469
132
99
91
128
107
121
165
123
79
465
132
107
102
134
116
130
155
81
74
470
137
111
123
136
118
136
159
70
do
do
do
do
do
do
do
do
do
do
110
99
102
125
97
84
80
92
87
90
111
97
101
126
95
82
78
98
91
97
115
96
98
112
97
89
86
96
95
100
115
98
98
115
96
98
98
101
94
100
114
98
97
106
96
103
100
99
93
99
114
103
100
105
96
115
108
108
94
99
115
110
106
108
98
126
114
113
92
96
108
109
107
102
99
118
103
92
82
85
117
115
116
108
98
108
96
111
97
101
119
120
124
120
98
107
98
109
r
97
100
123
117
118
127
99
110
107
111
103
109
120
108
110
135
99
97
99
do .
do
do
do
do
do
do
do
do
do
98
87
119
117
122
146
147
128
137
111
107
94
126
128
116
146
145
125
134
114
115
102
133
132
118
150
150
126
136
114
116
100
135
133
121
150
150
121
129
118
108
94
136
131
122
147
150
120
128
116
103
89
134
132
121
145
150
123
130
118
99
94
136
136
119
144
152
124
131
121
91
87
120
116
113
138
146
122
130
85
110
101
137
134
116
144
150
124
131
94
101
94
137
133
122
149
153
127
133
118
106
98
146
140
125
154
157
126
132
131
107
94
139
138
125
155
162
128
135
124
r
78
464
138
113
134
139
125
140
157
123
147
124
192
143
114
136
137
103
110
123
13
11
115
109
110
112
109
111
112
111
110
111
113
111
Minerals
do
58
62
63
61
68
71
74
77
68
57
Coal
.
do ..
75
75
70
137
134
136
135
133
137
134
130
133
129
Crude oil and natural gas
do
134
130
138
74
119
79
108
74
73
76
91
108
100
Metal mining
do
75
98
119
122
127
125
114
113
129
130
108
130
Stone and earth minerals
do
129
"126
T
!
Revised.
*> Preliminary.
Estimates based on anticipated capital expenditures of business; those for the 1st quarter of 1955 appear on p. 5 of the December 1954 SURVEY.
{Revisions for 1952 for new plant and equipment appear on p. 10 of the March 1954 SURVEY. Revisions for 1952 and 1953 for farm income and marketings are on p. 24 of the January 1955 SURVEY; for 1951, on p. 24 of the April 1954 SURVEY.
t Revised series. For a detailed description of the revision and monthly and annual data beginning 1947, see the December 1953 issue of the FEDERAL RESERVE BULLETIN.
SURVEY OF CURRENT BUSINESS
February
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
1954
1953
December
S-3
January
February
March
April
May
June
1955
July
August
Septem- October Novem- December
ber
ber
January
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION— Continued
Fed-eral Reserve Index of Physical Volume 9— Con.
126
125
125
123
123
125
124
123
123
124
126
129
130
do
- do. __
do
_ do
do
_ do do
-do _
12"
142
113
156
126
146
133
172
127
141
111
155
126
143
130
169
126
139
109
151
123
141
130
163
125
135
103
147
120
138
125
163
125
134
103
147
119
138
125
163
126
136
106
148
121
138
124
163
125
135
108
147
122
139
124
170
124
134
103
147
122
141
125
173
125
135
105
148
124
144
125
181
126
136
105
148
121
147
125
189
128
139
110
149
124
148
123
195
131
143
118
155
126
149
122
199
132
145
120
156
123
144
120
192
do
do
do
-do
...do. .
do
182
154
106
110
129
136
185
148
105
115
125
130
179
147
103
120
130
132
173
144
104
116
130
130
174
139
103
114
128
127
178
138
102
120
130
128
170
135
104
108
129
131
170
136
106
96
131
130
166
135
109
97
132
133
161
137
109
116
134
132
164
137
109
128
132
132
184
138
109
124
137
132
198
142
109
Nondurable manufactures
. - _ __ __do
Food and beverage manufactures.
do
Tobacco manufactures
_ __ _ _-do
Textile-mill products
do
Apparel and allied products
_ __ _ .-do _ _
Leather and products
do
112
103
112
90
101
93
113
105
100
91
104
94
114
106
98
91
106
94
114
106
103
91
108
93
115
107
103
94
109
94
117
110
108
95
107
94
116
108
107
93
106
95
114
105
101
95
102
100
114
105
99
94
103
96
115
105
102
118
105
119
r 95
117
105
102
101
104
94
102
108
95
125
120
145
128
116
126
120
143
124
112
129
119
146
126
110
131
119
146
122
113
133
120
146
124
113
137
120
148
125
119
136
121
148
124
120
133
121
148
122
97
135
121
149
121
98
137
121
150
125
r 117
138
121
150
124
123
136
120
151
127
122
113
69
133
101
127
113
70
134
103
119
113
68
135
101
124
112
62
137
96
124
109
58
137
78
120
111
65
134
91
121
114
69
136
99
122
112
70
133
91
125
109
68
130
83
121
108
67
129
82
121
109
70
130
112
69
134
81
125
116
73 _ _
138
130
143
144
144
110
118
324
101
136
152
174
136
125
136
144
132
106
115
257
99
133
147
166
133
Ad jus ted, combined index
-- 1947-49=100--
Manufactures
Durable manufactures
Primary metals
Metal fabricating (incl. ordnance)
Fabricated metal products
Machinery
_ _
Nonelectrical machinery
Electrical machinery
_
-
Transportation equipment
..
Instruments and related products..
Furniture and fixtures
Lumber and products
Stone, clay, and glass products
Miscellaneous manufactures
Paper and allied products
Printing and publishing _
Chemicals and allied products
Petroleum and coal products _„
Rubber products
_•
Minerals ..
Coal
Crude oil and natural gas
Metal mining..
Stone and earth minerals.
do
do
-do
do .
do
. . . . do
do
do
do
do
101
91
r gl
121
137
134
121
131
CONSUMER DURABLES OUTPUT
Unadjusted, total output*
Major consumer durables
Autos. _. __
Major household goods
Furniture and floor coverings
Appliances and heaters
Radio and television sets
Other consumer durables
1947-49=100.
do
do ._
do
do _
do
do _
do
103
106
107
106
104
92
156
96
112
121
135
109
99
98
173
92
117
127
138
119
103
117
170
95
119
129
142
120
102
117
182
94
119
131
151
116
97
116
172
92
116
126
146
110
92
112
155
92
116
125
143
112
93
112
165
94
102
107
125
92
89
88
116
90
113
121
123
121
102
101
234
94
108
111
81
139
108
122
279
101
Adjusted, total output* _
Major consumer durables
Autos..
Major household goods
Furniture and floor coverings
Appliances and heaters. . .
Radio and television sets
Other consumer durables
.-do .
.-do
do
do
do
do
do
.-do
109
114
127
104
99
95
145
97
112
119
133
108
98
104
148
95
113
121
134
110
99
111
142
96
112
119
133
109
99
105
151
94
116
126
139
116
97
114
178
93
119
130
145
120
96
117
198
93
119
128
136
124
96
110
246
96
117
127
127
128
102
115
245
93
115
125
121
131
106
109
270
91
r 109
47,209
46,450
46, 714
47,094
47, 636
46, 914
47, 779
47, 417
46, 717
46, 985
r 46, 224
47, 990
49, 566
24, 126
23, 620
12, 322
12, 342
23,978
11,344
12,634
24 260
11, 395
12, 865
24, 055
12, 550
24, 064
11, 385
12, 679
24, 418
11,576
23,902
11,580
23, 482
10, 952
12, 530
23 612
10 933
12, 679
r 24 361
T 10 664 T 11 559
' 12, 477 ^ 12, 792
24 917
12 042
12, 875
-do _
do
_. _.do___
9,151
3,011
6,140
8,926
2,859
6,067
9,122
9,130
2,894
6,228
2,870
6,260
8,976
2,822
8,892
2,836
6,056
9,080
2,930
6,154
6 150
2,951
6,139
_..do __
do
do
13, 932
13, 622
13, 972
4,626
9,306
13, 900
14, 242
4,436
4,745
9,228
4,858
9,042
4,882
9,360
14, 044
9,313
14, 439
5 024
9,415
._
109
111
70
r 149
111
124
338
r 104
r
106
r
109
r 86
r 132
114
r 94
134
107
112
278
98
107
111
268
98
99
101
BUSINESS SALES AND INVENTORIES§
Manufacturingandtradesales(adj.), total t
Manufacturing, total f
Durable-goods industries
Nondurable-goods industries
mil. of dol__
do
. do
do
..
Wholesale trade, totalt.
Durable-goods establishments
Nondurable-goods establishments
Retail trade, total
Durable-goods stores
.
Nondurable-goods stores
Manufacturing and trade inventories, book value, end
of month (adjusted), totalt
mil. of dol._
Manufacturing, totalt
Durable -goods industries.
Nondurable-goods industries
-..
Wholesale trade, totalt
Durable-goods establishments.Non durable-goods establishments
Retail trade, totalt
- Durable-goods stores
Nondurable-goods stores
-
9,186
11,278
11,502
12, 916
4,730
11,287
12, 768
r
r 23 141
9,085
2,942
9 159
2,865
2,833
6 294
6 179
r 9 268
' 2, 923
r g 345
9 526
6, 143
14, 272
4,911
9,361
14, 150
4, 770
14 214
4 798
9,417
14 071
4 689
9, 382
14 361
4 948
9,412
15 123
5 320
9,090
9,380
9 012
3,027
6 499
9,803
81,072
80,688
80,390
80,093
79, 516
79, 372
79, 000
78, 349
78, 163
77, 790
T
77 653
77 516
46, 722
26, 752
19, 970
46, 382
26, 526
19, 856
46, 115
45, 774
26,168
25,900
19, 947
19, 874
45, 183
25, 345
19, 838
44, 798
24, 926
19, 872
44 535
24, 689
19 846
44 194
24, 383
19 811
43 929
24, 232
19 697
43 668
24 120
19 548
r 43 819
r 24 3S4
r 19 435
43 811
r 24 441
r 19 370
43 835
24 468
19 357
do
do--_
do
11, 689
11,785
5,866
11,854'
11 865
11 752
11 783
5 841
5,942
11 697
5' 816
5,881
11 727
5 868
5 859
r 11 712
5 857
r 5 855
11 508
5 722
5 786
...do ..
do
do
22, 66]
10, 668
11, 993
22 451
10 286
22 425
10 234
21 996
9 974
T 22 130
r 10 079
22 173
10 161
do
__do
do
5,900
5,789
5,841
6,013
11,756
5,799
5,957
11,643
5,728
11,770
5,800
5,919
5, 915
5, 970
5,768
6,097
22, 521
10, 688
22, 421
10, 584
22, 563
10, 486
22, 690
10, 412
22,804
22,600
10, 502
10, 383
5,763
5,989
22 403
10, 190
77, 542
T
11,837
12,077
12, 302
11,833
12, 278
12, 217
12, 191
12, 213
12, 022
12, 165
12', 051
12! 012
r
Revised.
v Preliminary.
9 See note marked "t" on p. S-2.
*New series. Compiled by the Board of Governors of the Federal Reserve System. For description of the index and back figures, see the May 1954 FEDERAL RESERVE BULLETIN and subsequent issues.
§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 p. S-4; those for retail and wholesale trade, on pp. S-9 and S-10.
t Revised series. Effective with the December 1953 SUKVEY, the data reflect adjustments to more recent benchmarks; all revisions prior to 1953 are available upon request (most of the
data published in the 1953 issue of BUSINESS STATISTICS are now obsolete).
SURVEY OF CURRENT BUSINESS
S-4
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Survey
ber
February
1955
19 54
January
February
March
April
May
June
July
-^tHr-
DecemOctober November
ber
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Sales :f
Value (unadjusted), total
mil. of dol
Durable-goods industries
_
_ _
do ...
Nondurable-goods industries
do
24, 490
11,814
12,676
23, 263
11,165
12.098
24, 384
11.804
12, 580
22, 266
10, 252
12,014
23. 943
10. 855
13. 08*
24, 406 ' 24, 335'24,24,
407 4( 24. 954
11,552
11,109 Ml, 090 '
11, 51 12. 227
13, 384 '12.12.
855 & 12, 727
13. 297
23, 902
23, 620
24, 064
24,418
23, 978
24, 260
24, 055
23, 482
23,612
'23. 141 '24,
24,3613f
24,917
1 1 . 576
1, 645
1,076
1.349
1,902
2, 046
11.580
1,609
1,176
1 , 328
1 . 959
2, 101
11.278
1,580
1.132
1,269
1,968
1,962
11.385
1,528
1,173
1,355
1.941
1,981
11,502
1, 575
1,223
1,305
1,939
2,052
11,344
1,505
1,156
1,291
1, 862
2,083
11.395
1,567
1,180
1,316
1,901
1,974
11,287
1, 528
1,184
1,318
1, 920
1,800
10, 952
1,468
1. 144
1,276
1,838
1, 774
11, 5(
10, 933 ' 10, 664'11,569
1,525 ' 1. 581 1,707
1, 7C
1.082
1,120
1,
145
1,14
1. 2?
294
1,238
1,333
1,844
1,866
1,778
1,84
1,986
1,523 «• 1, 340
1.9$
12, 042
1,700
1, 130
1,406
1, 823
2,388
947
345
731
540
423
572
1, 005
325
659
517
364
537
942
309
659
573
348
536
931
317
688
569
353
549
971
300
693
547
356
541
940
317
680
601
354
555
914
334
678
599
364
568
1,061
300
684
608
354
530
949
311
688
597
331
576
948
318
740
625
363
572
12, 550
12,322
12,342
12,679
12,916
12, 634
12.865
12, 768
12. 530
12,679
3,863
572
304
1,040
873
3, 802
626
292
992
857
3,681
648
291
1 , 035
825
3,802
628
309
1,060
806
3,977
677
305
1,073
866
3,827
672
304
1,115
826
3,844
649
299
1.064
818
3, 748
682
301
1,040
938
3. 785
582
306
1, 023
909
3, 779
609
311
1,054
903
267
70)
774
1,601
2,186
369
259
680
748
1, 569
2, 149
348
274
676
832
1,590
2,139!
351 1
290
730
776
1,692
2,198
388
278
733
750
1,720
2, 162
375
297
714
769
1,664
2,089
357
355
766
767
1,724
2,202
377
377
753
746
1 , 675
2,134
374
349
742
751
1 . 686
2. 060
337
331
742
801
1,735
2,080
334
do
do
do...
46, 947
26, 697
20. 250
46, 772
26, 598
20.174
46, 355 !
26, 235
20. 12(
45, 959
26, 042
19,917
45, 351
25, 629
19,722
44, 974
25, 336
19,638
44, 684
24, 977
19, 707
44,157
24, 460
19, 697
43, 548
24, 038
19, 510
bil. of dol
do
_ _ do. -
16.4
13.3
17.2
16.0
13.5
17.2
15.8
13.3
17.3
15.4
13.3
17.3
14.9
13.2
17.2
14.8
12.9
17.3
14.8
12.7
17.2
14.9
12.4
16.8
14.8
12.2
16.6
46, 722
46, 382
46,115
45, 774
45, 183
44, 798
44, 535
44, 194
26, 752
3, 425
3, 131
3,440
5, 647
3,396
26, 526
3,388
3,012
3,342
5, 551
3,482
26, 168
3,344
2,948
3,326
5,512
3,380
25, 900
3,354
2,917
3,248
5,416
3,296
25, 345
3. 226
2,837
3,167
5, 297
3, 189
24, 926
3,153
2,768
3,103
5, 222
3,098
24, 689
3.071
2,831
3,062
5. 148
3,021
24, 383
3,107
2, 773
3,049
5, 097
2,899
2, 769
642
1,033
890
882
1,497
2,784
661
1,022
907
895
1,482
2,732
666
1, 015
917
883
1,445
2,753
665
1,025
906
874
1,446
2, 690
665
1,010
916
883
1,465
2, 652
661
1,003
919
888
1, 459
2, 691
650
98!
895
874
1,465
2,622
664
958
883
862
1,469
2, 695
656
944
866
850
1, 448
2,736
661
952
872
850
1,404
19, 970
19, 856
19, 947
19, 874
19, 838
19, 872
19, 846
19,811
19, 697
19, 548
3, 544
1,195
1,877
2,412
1, 792
3,492
1,209
1,887
2,422
1,762
3, 468
1,222
1, 930
2, 376
1,760
3, 437
1.198
1, 912
2, 383
1. 766
3, 416
1, 167
1,872
2,361
1,741
581
750
3, 053
2, 791
810
595
1,046
748
3, 085
2,771
829
580
1,021
734
3, 146
2, 790
784
567
1. 007
735
3. 1 47
2. 784
761
572
1,026
737
3,092
2, 760
804
Nondurable-goods industries, total
do
do
do.do
do
. .-. do
Leather and leather products
Paper and allied products
..
Printing and publishing
Chemicals and allied products...
Petroleum and coal products
Rubber products . _ _ ,
-
do _._ do
do
- do -.do
- do.. -
mil. of dol
Durable-goods industries, total
_
Primary m^tal
Fabricated metal products
Klectrical machinery and equipment
Machinery, except electrical _ _ __
Motor vehicles and equipment
do
do
do
do
do
do
Transportation equipment, n. e. s
Furniture and
fixtures
Lumber products, except furniture
Stone, clay, and glass products
Professional and scientific instruments
Other industries, including ordnance
Nondurable-goods industries, total-
25. 300
12,208
13.092
24. 126
Transportation equipment n e s
doFurniture and fixtures _
do
Lumber products, except furniture _ _ . --do
Stone, clav, and glass products
do
Professional and scientific instruments
do
Other industries, including ordnance
do
Book value (adjusted), total
22, 970
10. 968
12.002
do
do
do
do
do. _ .
do
Durable-goods industries, total
Primary metal. _
_ _ . . ._
Fabricated metal products
Electrical machinery and equipment
Machinery, except electrical
Motor vehicles and equipment
Inventories, end of month :f
Book value (unadjusted) , total
Durable- goods industries
Nondurable-goods industries
By stages of fabrication: J
Purchased materials
Goods in process
_
Finished goods
23, 062
10, 870
12, 192
do
Value (adjusted), total
Food and kindred products
Beverages
_ ._
_. .
Tobacco manufactures
Textile-mill products
Apparel and related products
23, 929
11,615
12,314
do-.
do do
do do
do.
. . do^.
' 1,046
320
755
615
355
554
'94
'943
'290
'2f
'823
'85
'61
'610
359
'3t
r
'568
5f
878
288
890
599
343
597
' 12,477 '12,
12,792
7<
12 875
'3.7(
' 3, 704 '
3. 736 3,845
'646
627
'fc
537
'319
'31
288
292
1,026
'992 ' 1,05
1,017
'84
'920
'848
830
' 302 r'308
'3(
341
'719
7'
735
734
814
'816
'81
810
1, 815 1 820
1,710 '
'1,81
' 2, 053 '
' 2,
2,171r 2 261
332
388
3£
43, 236 ' 43, 394'43.
43.49341
23, 786 ' 24, 060'24,
24,055
0,
19, 450 19, 334 '19,
19,438
4r
14.7
12.3
16.3
44 102
24, 428
19, 674
14.
14.8
'12.
'
12.4
16.2
16.
15.1
12.7
16.3
43. 929
43,668 ' 43, 81943, 811
8
43, 835
24. 232
3,082
2. 759
3. 041
5. 101
2. 790
24, 120 ' 24, 384
'24,
24,
441&
3, 053
3, 069 '
3, 116
'3,11
2,769
2, 765 '
2, 777
'2,7'
2,983
3, 007 ' 3, 0(
001
5, 038
4, 983
'4,9*
4,979 '
2,802 ' 3. 004 '
3,Of064
'3,
24, 468
3,232
2,772
2,947
4,931
2, 898
14.7
12.5
16.2
' 2, 845 ' 2, 8',
828 3,030
664
652
6,
653
970
971
'91
'997
872
'857
871
'8,
825
837
'820
'85
1,372 '
1 345 1,339
'1,3'
r
19,435 '
19,19,
3703'
19, 367
'3,4
' 3, 384 '
3, 410
1, 138 ' 1,
120
1,15
1, 856 ' 1, 8.
855
T
2, 328 ' 2, 3:
337
'1,710 '
' 1,
1, 668
6t
3, 459
1, 140
1, 861
2, 370
1, 668
Food and kindred products
Beverages
Tobacco manufactures
Textile-mill products.
Apparel and related products
do
do
do
do-~ do.-
3, 525
1,155
1,812
2, 513
1,901
3, 524
1,162
1,842
2, 464
1,872
3, 589
1,161
1,840
2, 455
1,863
3, 598
1, 196
1,833
2,442
1,791
3, 596
1,188
1, 865
2,412
1,762
Lcather and leather products
Paper and allied products
Printing and publishing
Chemicals and allied products __
Petroleum and coal products
Rubber products
do
do
do
do -do _
do
582
1,044
752
3, 093
2, 725
868
581
1, 034
769
3, 067
2, 697
844
1,048
702
3, 080
2, 719
857
573
1 , 050
767
3, 072
2,703
849
580
1 , 047
777
3, 061
2, 738
812
do
do
do
21 , 448
9, 347
12, 101
20, 882
8, 687
12.195
21, 520
9, 495
12,031
23, 857
10, 779
13, 078
22, 944
10, 290
12,654
21, 708
9, 472
12, 236
2;>, 099
10,297
12.802
21, 725
9, 712
12,013
22, 904
9,918
12, 986
25, 132 r 24, 579 '23,
23, 9(
906
11, 696 ' 11,401 '10,
864
10,8
13, 436 ' 13, 178'1313,0
042
do....
22, 026
20, 749
22,011'
22, 859
23,017
22, 819
22, 886
22, 551
22, 560
do
do
do
do
do
motor
of dol- .
do . . .
9, 507
1, 450
1,045
949
1.613
«, 475
1,205
746
987
1,378
9, 629
1,278
932
1, 264
1, 599
10,206
1,269
956
948
1,677
10,021
1,353
954
1, 049
1,705
10, 050
1, 273
918
1 , 000
1,657
9, 985
1. 450
1,153
905
1,793
9, 700
1,212
959
1,002
1, 612
9, 978
1,417
1,079
1, 009
1. 655
24, 463 ' 23, 858'
24,24,
366 3 25,409
11,699 '11,478 '11,521
11,5
12.311
1, 529 r 1, 656
1,814
2, 039
1,8
970
1, 161
1,372
1,4(
1,406
1, 400
1, 142
1,349
993
1,3^
1,758
1,774
1, 854
1,766
1,7<
2, 289
2, 221
2, 198
1,961
2, 255
2, 301
2, 922
2, 434
2, 683
2, 277
2,820
2, 382
2,242
2, 442
2,467
2,448
2, 272
2,546
12,459
12,274
12,387
12,653
12,990
12, 769
12, 901
12, 851
12, 582
New orders, netrt
Unadjusted, total
Durable-goods industries
Nondurable-goods industries
Adjusted, total
Durable-good? industries, total
.
Primary metal
Fabricated metal products.
Electrical machinery and equipment
Machinery, except electrical
.
Transportation equipment, including
vehicles and parts
...
. . .mil.
Other industries, including ordnance. _ _
Nondurable-goods industries, total
do . _
1,0(!-1
2, 862
2, 925
2,999
2,830
3, 030
2, (531
2, 917
2,988
Industries with unfilled orders 9
do
9, 852
9, 643
9, 913
9, 823
9, 525
9,665
9, 739
10,071
Industries without unfilled orders^.
do
r
Revised.
f Revised series. See corresponding note on p. S-3.
JRevised data beginning December 1949 appear on p. 22 of the June 1954 SURVEY.
9 Includes textiles, leather, paper, and printing and publishing industries; unfilled orders for other nondurable-goods industries are zero,
fFor these industries (food, beverages, tobacco, apparel, petroleum, chemicals, and rubber), sales are considered equal to new orders.
2, 691
9, 768
3,143
2,899
573
1, 050
715
3, 080
2, 763
838
581
'5~
'579
0530. 1, 039
't, t,
' 724
699
3,074
'
3, 076
'3,0"
' 2, 71
729 2,646
819
8
T
24, 810
12, 024
12 786
' 3, 177 2, 4<
496
2,568
2,6<
2,690
3,400
2,653
12, 764 ' 12, 380' 12,
12,845
8^
13, 098
3,013
9, 751
' 2, 746'
'2,7'
2, 779 3,125
«• 9, 634
10, (K
10.066
9.973
January
SUKVEY OF CURRENT BUSINESS
February 195i
Unless otherwise stated, statistics through 1952 and 1953
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Survey
ber
S-5
1955
1954
January
February
March
April
May
June
August
July
Decem~-| October November
ber
January
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Unfilled orders end of month (unadj ) totalf mil of dol
Durable-goods industries, total
do
Primary metal _ _ _ _ _ _
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 _ _ _ _ _ d o Nondurable-goods industries, total 9 --
do
58 308
55, 959
5,108
4,643
10,317
8, 156
56 128
53, 776
4,729
4,435
10, 059
7 770
54 684
52 303
4,448
4 201
9,962
7 435
53 241
50 874
4,202
3 994
9,489
7 083
51 695
49 350
3,964
3 823
9,261
6 828
50 140
47 657
3 667
3 629
8 952
6 523
48 855
46 150
3 422
3 637
8 627
6 301
48 314
45 610
3,298
3 530
8,516
6 186
47 275
44 673
3 296
3 374
8 236
6 119
48 001
45 260
3,296
3 256
8 275
5 928
48 245
45 571
3,356
3 136
8,094
5 836
r 47 399
47 255
' 44 766 44 563
'3 479 3,777
r 3 154
3 210
r
7,587
7 967
r 5 699
5 659
23, 044
4,691
22, 322
4,461
21, 740
4,517
21, 658
4,448
21 188
4,286
20 789
4,097
20 184
3,979
19 906
4,174
19 406
4,242
20 210
4,295
20 992
4, 157
r 20 416
r
4 051
2,349
2,352
2,381
2,367
2,345
2,483
2,705
2,704
2,602
2,741
2,674
8,915
9,543
8,533
10, 514
10, 272
9,280
9,748
9,409
9,041
9,256
813
64
89
193
382
85
867
60
86
192
450
79
926
74
109
207
449
87
1,102
87
143
198
551
123
975
66
92
200
535
82
943
81
111
200
460
91
965
81
132
208
455
89
856
80
95
165
417
99
912
80
100
187
451
94
43, 754
1,871
4,154
23, 731
9,757
4,241
29, 592
3, 134
3, 166
11, 431
8, 623
3,238
47, 774
4,341
4,082
23, 043
11, 770
4,538
57, 280
3,506
7,255
15, 359
26, 043
5,117
42, 512
1 648
3,692
20, 568
12, 030
4,574
38, 494
2 961
3,674
15 621
11, 739
4 499
41,613
2 045
4,514
18 454
11, 722
4 878
32, 230
2 524
4,958
9,986
9,622
5,140
32, 582
2 381
2,386
12 388
11, 225
4 202
r
20 440
3,890
2 633
2,692
9,852
9,735
11,981
819
59
88
153
406
113
871
68
109
189
414
91
933
68
110
179
490
86
917
72
130
204
413
98
381
290
584
262
879
366
29 000
1 952
4 733
7 547
11 845
2 923
35 067
4 065
6 859
8 099
10 466
5 578
40 103
1 857
5 926
17 526
8 509
6 285
BUSINESS INCORPORATION Stf
New incorporations (48 States) .. .
-number. _
INDUSTRIAL AND COMMERCIAL FAILURES^
Failures, total .
Commercial service
Construction
_ _ _ .
Manufacturing and mining
Retail trade
Wholesale trade
_ number
do
do
__do._do
do
Liabilities, total
Commercial service
Construction
___ _ _
Manufacturing and mining
Retail trade
.__
Wholesale trade
thous. of dol
do
do
do
__do. _.
,
do
_
36
2
5
11
11
5
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products§
254
259
258
256
257
258
248
247
251
246
242
244
239
244
do
do
do
do
238
230
205
427
240
233
207
420
237
236
208
443
239
238
208
443
240
234
208
443
249
227
207
446
244
216
205
445
248
225
202
446
250
228
207
430
247
233
210
444
243
235
204
441
244
239
199
438
241
239
202
430
248
241
204
425
do
do
do
do
260
237
224
269
254
222
271
268
258
210
233
269
263
212
246
275
267
217
225
283
272
215
279
286
274
240
200
283
272
228
243
286
288
235
223
294
292
248
170
276
293
218
191
275
281
206
237
277
276
207
216
279
275
222
263
274
do
do
do
do
269
285
282
218
277
309
274
213
277
315
267
208
271
316
257
188
271
333
237
178
267
331
230
168
251
299
229
168
247
286
237
171
251
287
245
178
245
277
253
162
242
267
263
153
243
237
257
264
156
240
263
258
163
260
270
249
263
271
254
264
271
255
264
272
255
265
273
256
267
276
256
265
276
252
263
277
247
264
277
250
263
273
251
262
273
250
9R9
979
261
272
250
264
273
254
278
282
282
283
283
284
282
280
282
280
279
283
92
91
90
91
91
88
88
89
88
279
07
279
91
87
86
Q«
209.1
209.5
208.9
208.3
208.1
208.7
209.0
209.7
209 0
208 2
207 6
207. 6
207 4
1910-14=100.-
Crops
Food grains
_
Feed grains and hay
Tobacco _ _ _ _ _ _ _
Cotton
Fruit
Commercial vegetables, fresh market
Oil-bearing crops
.
Livestock and products. _
Meat animals
.
Dairy products
Poultry and eggs
__ _
_
_ __
Prices paid:
All commodities and services
do
Family living items
do
Production items
_
do
All commodities and services, interest, taxes, and
wage rates $
..
1910-14=100-Parity ratio ©J
do
9fifi
266
1 t\Q
RETAIL PRICES
All commodities (U. S. Department of Commerce
index)
1935-39—100
Consumer price index (U. S. Department of Labor):
All items
1947-49—100
Apparel-.
Food
Dairy products
Fruits and vegetables
Meats, poultry, and
__
fish
Housing
Gas and electricity
Housefurnishings
Rent___
_ __.
114.9
115.2
115.0
114.8
114.6
115.0
115 1
115 2
115 0
114 7
114 5
114 6
i 114 3
do
do
do._do_ __
do
105.3
112.3
110.3
109.2
107.8
104.9
113.1
109.7
110.8
110.2
104.7
112.6
109.0
108.0
109.7
104.3
112.1
108.0
107.8
109.5
104. 1
112.4
104.6
110.0
110.5
104.2
113.3
103.5
114.6
111.0
104.2
113 8
102.9
117.1
111.1
104.0
114. 6
104.3
120. 1
109 7
103.7
113 9
105. 1
114 7
107 6
104 3
112 4
105 8
110 5
106 7
104 6
111 8
106 7
111 1
103 9
104 6
111 1
106.6
109 6
103 5
104
110
106
108
102
3
4
8
4
2
do
do. _
do
__.do
118.9
107.2
108.1
127.6
118.8
107.1
107.2
127.8
118.9
107.5
107.2
127.9
119.0
107.6
107.2
128.0
118.5
107.6
106.1
128.2
118.9
107.7
105.9
128.3
118.9
107.6
105 8
128.3
119.0
107.8
105 7
128.5
119.2
107 8
105 4
128 6
119 5
107 9
106 0
128 8
119 5
108 5
105 6
129 0
119
108
105
129
119
109
105
129
7
1
4
4
125 1
112.7
106 4
128 9
120.1
125 2
113.3
107 0
126 7
120.3
125 5
113 4
106 6
126 6
120.2
125 7
113 5
106 5
126 4
120.' 1
125 9
113 4
106 9
125 0
120.' 1
126 1
113 8
106 8
127 6
120.' 0
124.1
124.4
123.6
123.7
Medical care
do
124.9
125.1
113.9
113.6
114.1
Personal care
_
do
112.9
113.7
113.0
108.9
Reading and recreation
do
108.2
108.7
106.4
108.0
106.5
129.4
128.9
Transportation
._
do
130.5
129.0
129.1
129.1
120.3
120.2
120.3
Other goods and services
do
120.2
120.1
120.1
r
Revised.
1 Index on base previously used (1935-39=100) is 191.1.
t See corresponding note on p. S-3.
9 See corresponding note on p. S-4.
d* Data are from Dun and Bradstreet, Inc.
§ Revised beginning 1910 to incorporate revisions in the component price series and to reflect changes in the basic
p.23 of the April 1954 SURVEY.
J Revisions for 1937-53 for prices paid and 1910-53 for parity ratio appear on p. 24 of the April 1954 SURVEY.
0 Ratio of prices received to prices paid (including interest, taxes, and wage rates).
r
5
7
4
2
~~
196 3
113 6
106 6
127 3
119.9.
weights; revised annual data for 1910-53 for prices received anDear on
S-6
SURVEY OF CURRENT BUSINESS
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistica/ DecemSupplement to the Survey
ber
February
1954
January
February
March
April
June
May
1955
July
Septem- October Novem- December
ber
August
January
COMMODITY PRICES—Continued
WHOLESALE PRICESd"
U.S. Department of Labor indexes:
All commodities
1947-49 = 100 _ _
Farm products
Fruits and vegetables, fresh and dried,
Grains
Livestock and live poultry
do
.do.
do
_do
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_ .
Commodities
foods
other
than farm products and
1947-49 = 100
110.1
110.9
110.5
110. 5
110.9
110.0
110.4
110 5
94.4
89.8
90.6
83.9
97.8
91.2
91.3
91.8
97.7
89.7
91.6
91.3
98.4
89.6
93.0
92.4
99.4
97.4
92.9
94.9
97 9
104. 4
91 2
93.0
94 8
96. 6
86 5
87 7
96 2
110.9
88 1
83. 2
95
108
91
83
104.3
112 2
111.3
106. 2
112 4
109.4
104 8
112 7
107 4
105 3
112 6
106 1
105 9
113 2
103 0
106 8
113 3
101 7
105 0
113 5
102 4
106 5
114 0
105 1
106 4
113 2
105 9
103.9
89.7
103. 8
96. 4
103.0
92 9
103.0
92.8
103. 3
94.3
104. 5
98.3
104.7
92.3
104.7
94.1
111.0
109.7
110 0
109 f
110 2
93
101
92
77
1
9
9
5
93 2
103 9
93 5
76 4
r 89 0
q2
107
93
79
105 5
113 8
106 6
103 7
114 5
108 7
103 8
116 5
108 8
r 103 5
116 $
108 2
irio 7
104.8
92 0
105.0
92 0
105. 5
85.8
105. 5
86 3
r 106, 0
85 2
104.5
87 8
8
3
2
4
110 0
93
99
93
80
6
8
6
7
96 Q
92 5
74 0
9
0
6
3
1O7 1
114.6
114. 6
114.4
114.2
114.5
114.5
114 2
114.3
114 4
114 4
114 5
114 8
114 9
•I1C 0
do
-do
do
107. 1
118.6
93.8
107.2
118.4
93.9
107. 5
118.4
93.9
107. 4
117.9
93.9
107.2
117 4
94.0
107.1
117 3
94.0
106 8
117 0
94.0
106.7
117 1
94.0
106 8
117 4
94.0
106 8
117 4
94.0
106 9
117 6
93.6
107 0
117 7
93.6
107 0
117 4
93.6
107 1
do
do
do
58.6
113.9
112.7
61.2
114.0
112.8
63 5
114.0
112 8
60 5
114.0
112 8
59 8
114. 1
112 8
59 3
114.0
112 8
55 7
111 6
112 8
52 0
112. 1
112 8
53 5
112 1
112 8
54 0
112 3
112 8
56 5
112 1
112 8
57 8
112 2
112 8
r 59
111.1
112. 5
100.7
109.6
114.9
110.8
111 9
100. 7
111 8
114.2
110.5
110 9
101 3
113 5
113. 5
109.2
107 9
102.9
111 5
111.5
108 6
104 1
101 8
112 3
112.1
108
104
101
109
111.
107 8
104 7
101 8
107 8
110.9
106.2
104 9
101.8
105 4
108.2
106 9
105 2
102 4
105 4
109.3
106 9
105 5
101.2
106 0
109.4
106 9
105 1
101 8
105 8
109.3
107 4
105 1
103 0
107 3
109.5
Furniture, other household durables do .
Appliances, household
do
Furniture, household
_ _ _ __do
Radios
do
Television sets
do
115.0
109.1
114.1
94.3
74 0
115. 2
109. 6
114.2
96 1
73 5
115. 1
109 7
113.9
96 1
73 8
115.0
109. 5
113.7
95 7
73 8
115. 6
109 9
113. 6
95 7
73 8
115.
109
113.
95
73
115 4
109 8
113 1
95 6
70 fi
115. 3
109.7
112.8
95.6
70 3
115
109
112
95
68
3
7
9
4
5
115.3
109. 4
112.8
95 4
68 7
115.6
109 5
112.8
95 4
68 7
115
109
112
95
69
6
1
9
4
2
115
109
112
95 4
69 2
115 7
109 9
119 9
95 4
69 0
Hides skins, and leather products
Footwear
Hides and skins
Leather
do
do
do
do
95. 6
111.8
57.7
88.7
95 3
111.9
56 8
88.1
94 9
111.9
55 4
87 4
94 7
111.9
56 0
86. 3
94 6
111.9
56 5
86 0
96
111.
62
87 6
95
111
60
87
6
9
6
4
94.9
111.8
58.2
86.5
94
111
55
84
0
8
8
4
93.0
111.8
51. 5
82.9
92 4
111.8
49 5
82. 1
92
111
59
82
g
7
7
0
91
111
47
81
8
6
4
5
9 9 fl
111 6
do
do
117.4
116.4
117.0
115. 9
116.8
115 5
116. 7
115.6
116.2
115 3
116.1
115 0
116 3
115 5
119.1
118. 6
119. 1
118 7
119.3
119.0
119.8
119.5
119.9
119 6
120.0
119 8
120 3
120 0
do
do
do
do
do
124.3
122 5
131. 1
126. 8
118.5
124.4
122 7
131. 2
126. 8
118. 9
124 5
123 0
131 5
126. 8
118.9
124. 5
122 3
131. 7
126.8
118.9
124 4
122 3
131. 6
126. 5
118. 9
124 4
122 6
131 5
126. 0
118 9
124 3
122 3
131 5
125.9
118 9
124.3
122.3
131.5
125.8
118.9
124 3
122 1
131 5
125. 7
118 9
124.4
121.9
131.6
125. 6
118.9
124.3
122 0
131.6
125. 2
118.6
125 3
121 3
131 8
126.7
121 0
125 7
1^1 2
132 6
126. 8
121 7
125 9
do
do
do
- -do
127.5
115. 5
132.8
122. 1
127 2
1 ! 5. 3
132.0
121. 5
126. 2
114.8
131 0
119.8
126. 3
114.4
130. f
121. 2
126.8
114. 5
131 1
123.4
127. 1
113.9
131 8
123. 6
127. 1
113 8
131 8
123 7
128.0
114.0
133.6
124.2
] 28. 6
114.1
133 8
125.1
129.1
114.1
134. 1
126.2
129.7
114.3
135.0
127.4
129
114
135
127
9
3
5
2
129.8
114 3
135 0
127.6
130 3
113 7
Nonmetallic minerals, structural
Clay products
Concrete products
Gypsum products
do
do
do
do
120.8
132 1
117.2
l?2 1
120. 9
131 9
117.2
122. 1
121.0
131 9
117.6
122 1
121.0
132 0
117.3
122 1
120.8
132 0
117.3
122 1
119.3
132 0
117.3
122 1
119. 1
132 0
117 5
122 1
120.4
132.0
117.7
122. 1
120.5
132 3
117 9
122 1
121. 7
135 4
117.8
122. 1
121.9
135 4
117.8
122 1
121.8
135 4
117 4
122 1
121. S
135 4
117 4
122 1
122.2
Pulp, paper, and allied products
Paper
do
do
117. 1
126.8
117.0
126. 8
117. 1
126 8
116.6
126. 8
116.3
126 8
115.8
126 5
115.8
126 5
116.2
126. 5
116.3
126 5
116. 3
126. 5
116.3
126 5
116.0
126 5
115.9
126 9
116. 3
127 5
-do
do
124.8
130. 1
124.8
130.3
124.6
130. 3
124.9
130.3
125.0
129. 3
125. 1
129.3
126. 1
129 3
126.8
129. 3
126.4
129 6
126.9
129.6
128.5
129. 6
131.4
134 9
132 (
134 9
136 4
139 8
do
__do
_. do
95.8
97.9
90.9
90. 1
99. 1
90.4
95.3
98.8
88.8
95.0
98. 6
88.5
94.7
98. 2
88. 5
94.8
98.2
88.3
94.9
98. 1
88.4
95.1
98.4
88.9
95.3
98.6
89 1
95.3
98.6
89.2
95.4
98. f
89.9
95.2
98.4
89 9
95.2
98 4
S9 9
95.2
98 ^
90 2
do
- do
do
139. 3
85.5
112. 1
142. 1
85.4
111.0
135.8
85.4
109. 0
135. 1
84.9
109.3
132. 3
84.6
109. 2
131. 6
85.2
109. 5
123. 9
85.6
110. 1
124.2
85.7
109.8
126. 3
85.7
110.3
128.4
85.8
109.6
127.0
86.1
108.4
127.4
86.9
106. f
123. 9
87 2
106 7
124.2
87 4
106 7
Tobacco mfrs. and bottled beverages
do
Beverages, alcoholic
_
_ _ _ _do
Cigarettes
do
1 18. 1
114.9
124.0
118.2
115.0
124. )
118.0
1 14. 6
124.0
117.9
114.6
124.0
121.5
114.6
124. )
121.4
114.3
124.0
121.4
114.2
124.0
121.4
114.2
124.0
121. 5
114.3
124 0
121.5
114.3
124.0
121.5
114.3
124. 0
121.4
114. 3
124 0
121.4
114 3
124 (
121.4
114 3
1°4 0
Miscellaneous
Toys sporting goods
100. 1
113.2
101.1
113. 1
102.8
113.0
104.9
113.0
110.3
113. 6
109.2
1 13. 6
105. 1
113. 6
103.9
113.5
102.3
113 4
99.1
112.7
96.7
112 7
97 0
112 8
98 (
112 c
97 2
113 6
90.8
87.0
89.0
90.2
86.8
88.4
90.5
87.0
88.8
90.5
87. 1
89.2
90.1
87.3
89.0
90.2
87.0
88.3
90.9
86. 9
87.9
90.6
86.8
87.3
90.5
87 0
87.8
90.9
87.2
89. (
91.2
87 3
89.4
90.9
87 3
90.0
Chemicals and allied products
Chemicals, industrial
Drugs, Pharmaceuticals, cosmetics
Fats and oils, inedible
Fertilizer materials
Prepared paint
--
Fuel, power, and lighting materials
Coal
Electricity
Gas
Petroleum and products
-do
do
do
do
do____
Lumber and wood products.
Lumber
__
Machinery and motive products
Agricultural machinery and equip
Construction machinery and equip
Electrical machinery and equipment
Motor vehicles
Metals and metal products
Heating equipment
Iron and steel
Nonferrous metals
--
Rubber and products
Tires and tubes
-
Textile products and apparel
Apparel
Cotton products
-
Silk products..
Synthetic textiles
Wool products
- -
-
-
___
-do _
do
2
6
8
0
93.6
113
112
110 7
r 107
108 1
105 2
100 7
110 9
111.6
105
r 100
110
110.
r
r
4Q ^
81 2
133 1
126.8
121 7
1^8 1
PURCHASING POWER OF THE DOLLAR
As measured by —
Wholesale prices
Consumer prices
Retail food prices
r
_ _ _
_
1947-49=100-.
do
do - _
1
1
91.3
87 5
90 (
190.7
l
Revised.
Indexes on base formerly used (1935-39=100) are as follows: Measured by—wholesale prices, 47.5 (January); consumer prices, 52.3 (December): retail food, 44.8 (December).
cTFor actual wholesale prices of individual commodities, see respective commodities.
SURVEY OF CURRENT BUSINESS
February 1955
Unless otherwise stated, statistics through 1952 and 1953
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Survey
ber
S-7
IS 54
January
February
March
April
May
June
1955
July
DecemOctober NovemAugust September
ber
ber
January
CONSTRUCTION AND REAL ESTATE
I
CONSTRUCTION ACTIVITY
mil. of doL-
2,712
2,444
2,346
2,567
2,813
3,114
3,364
3,522
3,637
3,614
3,479
3,285
2,985
2,761
Private total
do
Residential (nonfarm) _
_ 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
- do
Public utility
do
Public total
do
Nonresidential building
do
Military facilities
_
do
Highway
do _
Other types
do
New construction (seasonally adjusted), total?
mil. of doL_
Private total
do
Residential (nonfarm)
__ .
-do
Nonresidential building, except farm and public
utility
mil. of dol
Farm construction
do
Public utility
do
Public total
do
Nonresidential building
do _
Highway
do
1,917
951
850
78
1,710
816
730
63
1, 637
758
675
61
1,779
863
770
71
1,927
980
860
96
2,122
1,107
970
111
2,278
1,193
1,050
114
2,392
1,267
1,125
113
2,459
1,313
1,175
110
2,457
1,326
1,195
106
2,410
1,321
1,195
102
2,347
1, 292
1,175
95
2,202
1,214
1,115
77
2.027
1,091
1,000
70
507
177
182
103
347
795
350
78
174
193
486
179
164
102
299
734
354
73
130
177
474
176
157
106
292
709
345
69
125
170
469
173
154
114
326
788
365
75
160
188
464
169
151
127
348
886
528
164
189
157
389
1,086
397
89
385
215
549
161
203
164
400
1,130
409
89
415
. 217
552
160
207
167
415
1,178
423
93
440
222
551
160
207
153
415
1,157
403
96
445
213
541
79
230
200
490
165
167
145
371
992
387
78
320
207
197
126
410
1,069
378
96
390
205
551
169
200
106
386
938
358
90
300
190
534
172
18f
93
349
783
339
83
185
176
527
175
185
93
302
734
337
85
145
167
2, 955
1,992
981
2, 965
1, 995
978
3,051
3,005
2 Oil
989
3,027
980
498
137
360
963
392
289
507
136
365
970
401
270
516
135
365
1,047
409
327
35, 777
1,300
479
821
38, 361
1,152
363
789
3,804
36. 450
540, 338
New construction (unadjusted), totalt
ie;
3,089
2 059
1 040
2 131
1,105
3,078
2, 122
1,102
3,094
2,173
1, 150
3,145
2,219
1,192
3,157
2,234
1,214
3,105
2,221
1,210
3,192
2,259
1,228
3, 262
2,292
1,262
3,352
2,361
1,299
514
134
366
994
387
300
512
133
366
968
376
293
518
132
367
958
375
297
513
131
367
956
377
292
517
129
367
921
364
292
521
128
367
926
373
288
515
127
367
923
365
299
50f
126
367
884
352
274
526
125
368
933
376
288
524
124
368
970
380
305
552
124
368
991
383
302
40, 787
1,221
436
785
55, 659
1,528
484
1,043
65, 521
1 692
477
1 215
65, 641
1 925
669
1,256
59, 741
1,733
625
1,108
60, 996
1,837
681
1,156
61, 612
1,573
509
1,064
65, 832
1,816
589
1,227
67, 701
1,965
633
1,332
54, 671
1,499
475
1,024
62, 394
1,829
617
1,212
3,661
33, 937
473, 077
3,871
32, 259
468, 712
41, 561
532, 060
45 971
605, 427
51 913
672, 288
5,647
5,367
49, 014
656, 445
5, 744
48, 877
641, 513
5,251
42, 549
550, 550
5,321
5,090
45, 303
50, 258
646, 825 670, 934
4,302
5,017
38, 559
51, 396
491, 090 701, 427
30, 492
46, 614
433, 500
33, 442
48, 156
462, 482
35, 621
52, 706
508, 773
48, 718
69, 631
667, 737
57, 531
80, 422
796 133
57, 019
84, 946
825 300
51,414
73, 138
720, 266
51, 988
74, 756
745, 440
53, 403
70, 591
692, 736
57, 928
78, 995
777, 332
59, 900
85, 814
851, 824
48, 656
55, 407
71, 778
77, 300
708, 691 761, 577
1,153
226, 634
951
134, 304
1,007
191, 855
1,623
209, 986
2 040
219, 400
324, 032
2,427
2,458
287, 104
2, 693
351, 895
2,442
2,357
262, 682 293, 285
1,988
342, 592
1,317
204, 595
1,514
272, 910
328
99, 292
307
82, 124
51, 920
382
117, 734
544
70, 908
548
103, 633
502
69, 449
571
98, 087
516
66, 897
457
98, 790
492
99, 989
396
94, 474
45f
92, 923
168
151
208
177
161
154
195
185
171
180
196
201
194
216
191
205
225
251
196
213
234
257
193
216
240
251
207
227
225
236
206
233
229
243
218
244
234
254
231
253
231
256
241
263
232
254
255
264
211
237
259
277
1,511
766
767
934
1,439
1,437
1,161
1, 575
1,271
1,479
996
1,215
«• 1, 373
6, 605
148
4, 336
i 2, 121
4 726
1,748
1 852
1,125
4 036
1,299
1 007
1,729
6,075
1,078
2, 649
2, 347
7 791
1 211
4 005
2 575
6 255 ' 10, 472
2,141
1,480
1 820 r 4, 504
2,954
3, 826
7,624
1,379
3,437
2,808
8,391
1,711
3,408
3, 272
7,821
1,206
4,301
2,314
8, 376
582
5,485
2,309
5,076
1,500
1,919
1,657
i 8, 691
2,698
1
3, 639
1
2, 354
65.8
64.5
48 8
13
66.4
65. 1
48 4
13
75.2
73 9
52 2
13
95.2
93 2
69 2
2 0
107.7
106 5
78 4
12
108.5
107.4
76 1
1i
116.5
112.6
83.9
3.9
116.0
112.9
84.6
3.1
114.3
113.0
81.4
1.3
115.7
113.4
80.6
2.3
'110.7
110.5
' 80.2
'30.3
103.0
102.7
77.2
.3
91.0
89.6
67.1
1.4
1,060.0
1, 056. 0
1,152 0
1 130 0
1 102 0
1,083 0
1,175.0
1, 188. 0
1,211.0
56.5
54.7
43.7
2.1
8.9
18
66.1
64.9
55 2
2.5
r
7.3
1 2
95.0
93 0
79 0
3.4
10 6
2 0
100.2
99.1
88 2
3.2
7 7
1 i
'92.3
T
91.3
81 5
2.9
6 8
10
108.1
104.2
93.0
3.0
8.2
3.9
'98.1
96.2
85.1
'3.1
8.1
1.8
2,004
CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.):
Total projects
number
Total valuation
- - mil. of dol
Public ownership
do
Private ownership
do
Nonresidential buildings:
Projects
- - number.
Floor area
thous. of sq. ft
Valuation
thous. of doL_
Residential buildings:
Projects
-- number
Floor area
thous. of sq. ft
Valuation
thous of dol
Public works:
Projects
- - number
Valuation
__thous. of doL.
Utilities:
Projects
number
Valuation
thous. of dol_.
Value of contract awards (F. R. indexes):
Total unadjusted
.
1947-49=100
Residential unadjusted
do
Total adjusted
_ _ - do
Residential adjusted
do
Engineering construction:
Contract awards (ENR)§
mil. of dol. Highway concrete pavement contract awards:©
Total
thous of sq yd
Airports
- -do
Roads
do
Streets and alleys
- __ do_- NEW DWELLING UNITS
( U. S. Department of Labor)
New permanent nonfarm dwelling units started:
Unadjusted:
Total, privately and publicly owned. ..thousands. _
Privately owned, total
_
do
In metropolitan areas
do
Publicly owned
do
Seasonally adjusted at annual rate: 9
Privately owned, total
do
Residential construction authorized (nonfarm; housekeeping units only), all permit-issuing places :f
New dwelling units, total-.. __ - __ thousands
Privately financed, total
do
Units in 1-family structures
do
Units in 2-family structures.
_ _ _ _ do .
Units in multifamily structures
do
Publicly financed, total
do
1
1
4,936
r
r
5,406
r
99. 8
r
98. 2
r
88.3
r
2. 9
r
7.0
1.7
r
r
1,248.0 ' 1, 287. 01, 385. 0
r
97. 3
r
95.9
r
86.
7
r
2.8
6.4
1.5
'94.3
'94.1
84.2
2.7
'7.2
.2
1,295
88.0
87.8
65.4
.2
1, 473. 0 1, 424. 0
88.0
87.7
77.9
2.7
7.3
.3
CONSTRUCTION COST INDEXES
122.3
Department of Commerce composite:]:
1947-49=100..
121.9
121.0
121.2
121.3
121.0
123.0
123.1
121.7
122.7
122.7
122.6
123.0
392
Aberthaw (industrial building) _
1914 = 100
393
393
395
396
American Appraisal Co., The:
585
Average, 30 cities
_ _
1913=100
584
585
594
585
591
586
586
598
595
589
597
598
598
C41
Atlanta
do
641
641
641
639
642
640
639
649
649
639
649
649
649
609
New York
._
do
623
624
624
623
624
623
625
624
629
629
629
629
629
525
522
522
529
San Francisco
do
530
530
539
530
530
539
545
545
545
545
576
576
576
St. Louis
.
do
577
579
596
595
577
594
599
596
598
599
599
422
418
'419
Associated General Contractors (all types)
do
492
422
420
430 1
429
432
424
431
432
432
432
' Revised.
* Preliminary.
i Data includes some contracts awarded in prior months but not reported.
^Revisions for new construction (unadjusted) for 1950-1953 appear on p. 24 of the September 1954 SURVEY. Minor revisions back to 1915 for the Department of Commerce construction
cost index are shown in the May 1953 and May 1954 issues of the Construction and Building Materials Statistical Supplement.
9 Adjusted data not shown in SURVEY prior to the October 1954 issue.
§Data for December 1953 and April, July, September, and December 1954 are for 5 weeks; other months, 4 weeks.
© Data for March, Tune, August, and December 1954 are for 5 weeks; other months, 4 weeks.
fRcvised series. These data cover nonfarm residential construction authorized in all places (both urban and rural) that require building permits; they replace the former urban-building
series which covered new dwelling units authorized in all places denned as urban in the 1940 Census.
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
1953
December
February 195,
1954
January
February
March
April
May
June
1955
July
DecemOctober NovemAugust September
ber
ber
January
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION
COST INDEXES— Continued
E. H. Boeckh and Associates:!
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
Brick and wood
do
Frame
- --do_ _
Steel
do
Residences:
Brick
do .
Frame
do
Engineering News-Record -.d"1
Building 9
1947-49—100
Construction 9
do
Bu. of Public Roads— Highway construction:
Composite standard mile
1946 — 100
CONSTRUCTION MATERIALS
Production of selected construction materials, index:
Unadjusted
. -1939= 100- Adjusted
do
REAL ESTATE
Home mortgages insured or guaranteed by—
Fed. Hous. Adm.: Face amount
thous. of dol_.
Vet Adm • Face amount
do
Federal Home Loan Banks, outstanding advances to
member institutions
mil. of dol _
New mortgage loans of all savings and loan associations, estimated total
thous. of dol_.
By purpose of loan:
Home construction
do
Home purchase
do
New nonfarm mortgages recorded ($20,000 and under),
estimated total
mil. of dot
Nonfarm foreclosures*
number. _
Fire losses _ __
- thous. of doL.
256.3
253.8
257.1
254.9
251.9
255. 2
254.3
250.9
253.7
254.0
250.7
253.7
254. 2
250.2
252.8
255.7
251 3
253.9
256.1
251.5
254.7
257.3
252.8
256.2
257.9
253 3
256.3
258.3
253.7
256.5
258.5
253.9
256.8
258.2
253.4
256. 8
258. 5
253. 8
257.1
262.5
259.1
255. 1
257.2
243.0
261.4
257.9
253.5
254.7
241.9
260.4
257. 3
252 5
252.5
241.3
260.2
257.2
252. 5
252.7
241.2
261.0
257.4
251.9
251. 5
241.2
262 9
258.8
253 1
252.6
242 2
263 4
259.3
253 6
253.9
242 4
265 0
261.0
254 9
255.4
244 7
265 8
261. 7
255 3
255.5
245 5
266 1
262.1
255 4
255.7
245 9
266.3
262.2
255.6
256.1
245.9
266.0
262.0
255. 5
256.1
245.6
266 2
262.2
255 7
256. 4
245 9
257.7
252 6
255.7
250 5
254.2
248 3
254.2
248.9
253.4
247 4
254.5
248 3
255.3
249 3
256.8
250 8
257 0
250 8
257 2
251 1
257.5
251 4
257.4
251.4
257. 7
251 7
129 1
135. 5
129.3
135.7
129.2
135.5
129.4
135.8
129 6
136.5
130 0
137.2
131 3
138.6
134 7
141.8
134 4
141 4
134 7
141 7
135 0
141.9
135.1
142.0
135. 4
142.2
127.7
131 8
127 0
147.1
166.4
138.7
162.4
143.8
174.3
167.0
176.7
172.6
173.6
174.3
164.7
177.2
165.6
173, 057
252, 433
183, 443
247, 561
154,255
268, 144
161,872
225, 681
152, 886
249, 213
146, 580
269, 616
164,217
308, 931
r
128 1
125 4
r
r
160.9
151 2
154, 598
293, 652
r
T
135 9
142 6
177. 3
156 6
P 188. 9
P 175 7
T 189. 9
p 171.4
P 176. 9
* 178. 5
150, 706
418 182
135, 743
409 864
153, 592
517, 807
182, 894
492, 850
201, 289
555 699
952
751
677
630
613
608
675
630
659
689
708
743
583, 538
494, 859
539, 359
710, 130
731, 533
728, 369
809, 937
802, 356
840, 693
828, 170
824, 223
806, 718
187, 422
258, 641
137 475
151,935
217,119
125 805
176, 074
219, 846
143 439
245, 604
288, 212
176 314
256, 844
297, 895
176 794
254, 361
301, 497
172 511
283 088
341, 421
185 428
280 756
348, 998
172 602
288 985
371, 951
179 757
282 060
368, 912
177 198
283, 385
364, 267
176 571
278, 125
357, 022
171 571
1,622
1,971
83, 440
1,372
1,830
86, 493
1,425
1,921
78, 928
1,784
2,326
84, 821
1,793
2,225
77, 933
1,804
2, 147
62, 282
1,990
2, 326
65, 533
2,027
2,188
69, 532
2,086
2,049
78, 163
2 122
2,304
64, 087
2,156
2,148
2,267
57, 668
61, 663
83, 881
DOMESTIC TRADE
ADVERTISING
Printers' Ink advertising index, ad justed :f
164
162
165
174
165
161
178
Combined index
1947-49=100.167
167
173
168
169
170
165
168
166
166
161
168
174
173
163
Business papers
do
173
171
160
167
135
136
138
133
134
141
140
Magazines
_ _ _ .do. __
133
133
144
132
128
126
152
164
162
159
160
170
155
159
160
Newspapers
do
164
156
161
157
144
153
140
130
162
163
143
146
138
Outdoor
. . -.do
147
156
152
138
69
64
64
66
55
59
53
50
60
Radio (network)
do
56
64
60
60
234
224
225
216
294
304
Television (network)
1950-52=100-.
250
240
275
264
263
280
298
130.3
146.4
172.8
146.7
191.7
188.9
180.9
149.6
180.0
Tide advertising index, unadjusted
1947-49=100 ,
168 4
131 1
159 6
130 3
Radio advertising:
T
14, 185
13, 895
12, 205
13, 286
12,112
11,
187
12, 267
Cost of facilities, total
thous. of dol
'
11,
429
10
445
9 529
10, 764
10
950
9 571
r
r
774
896
1,063
781
669
857
957
785
Automotive, incl. accessories-.
_ _ _ _ _ _do_ _
1,011
692
721
693
631
3,393
3,935
3,713
3,710
2,576
2,492
Drugs and toiletries
do
2
130
3,315
3,182
3,413
2
556
2
546
2 222
2,798
3,012
3,256
3,136
2,476
2,648
2,481
2,537 r 2, 578
Foods, soft drinks, confectionery
do 2,326
2,361
2 608
2,453
1,253
1,482
1,428
1,263
1,254
1,358
1,161 «• 1, 219
1,287
Soaps, cleansers, etc
- do_ _ _
1,208
1,200
1,135
1,117
1,068
1,161
1,353
1,183
977
867
812
Smoking materials
do
1,023
709
771 r 1 021
575
613
3,264
3,395
3,343
2,911
3,
043
'3,068
3,251
All other _ - _ _
..
d o .
3,081
2
621
3,210
2,644
2
647
2 469
Television advertising:*
24, 682
25, 056
22, 944
26, 208
25, 922
24, 536
25, 347
Cost of facilities, total
do
671 «• r32, 075
33, 560
23 669 'r 26 198 r 31
22 945
2,342
2,052
2,147
2,243
3, 432
2,331
2,476
1 932 r 2 837
2 268
Automotive, including accessories
do
3,388
1 934
1 969
4,838
4,330
4,559
4,525
6,721
4,630
4,397
Drugs and toiletries. .
_
do__.
7,357
6,053 r 7,202
5,073
5,504
5, 182
5,314
5,486
6,010
5,087
5,702
5,554
Foods, soft drinks, confectionery
do _
6,735
5, 436
7,453
6 571
5 795
5 447
5 377
2,306
2,413
2,496
3,037
3,145
2,952
3,055
2,996
2,882
Soaps, cleansers, etc_. _ _ _ _ _ _ _
do _
3,054
2,484
3,296
2,798
3,426
3,175
3,546
3,465
3,619
3,442
3,556
Smoking materials _ _
do__.
3,728 T 3,734
3,510
3,929
3,559
3,585
6,651
5,805
6,829
6,810
6,409
All other
do _
8, 307
6,648
5,434
5 855
8,278
8, 139
4 426
4 348
Magazine ad ver Using :i
33,
288
57,
613
46,
191
44,
167
60,
328
62, 984
Cost, total
do
63 511
50 324
63 048
51 787
33 576
36 548
45 077
3,039
3,578
4,657
5,609
1,813
5,514
3,238
Apparel and accessories
_
- _ do
4,728
5,712
6 399
814
4 202
3 340
4,264
2,491
5,755
4,393
6,329
5,416
Automotive, incl. accessories
do
3 262
5,878
3 714
4,972
3 162
3 787
3 714
1,062
1,659
2,327
3,427
2 184
4, 157
Building materials
do
4,670
3 236
1 554
3 198
1 741
3 641
859
5,048
3,961
3,218
5,334
4,713
5,215
Drugs and toiletries
___ _ do
5,795
5,210
6 195
3 499
3,798
4 460
4 361
8,164
7,437
6,040
4,931
Foods, soft drinks, confectionery
do
6,672
6,953
6 695
8 477
8 885
5 999
5 457
5 357
6 472
4' 5gg
2,014
4,116
2,694
2,431
1,270
Beer, wine, liquors _ _ _
_ __ do
4, 135
2,616
1 521
3 158
2,380
1 967
2 005
2,778
2,248
3,928
738
4,862
4,241
Household equipment and supplies
do
4 439
3 259
1 733
1 348
3 005
4 450
2 807
I 510
1,526
1,881
1,099
2,533
3,358
Household furnishings _ _ _ . _
__
do
3,426
1,762
2 948
681
1 001
3 690
2 510
3,179
3,788
4,044
Industrial materials
do
3,243
2,637
4 020
4 229
2 793
2 719
4 769
3 755
4 303
3 036
444
715
921
976
Soaps, cleansers, etc
__do
583
1,273
760
781
810
515
'456
'729
294
1,329
1,471
1,453
1,026
1,350
Smoking materials
do__
1, 662
1,549
1,691
1,377
1, 138
1,087
1 285
1 492
15, 491
9,922
All other.
,
do
13, 400
13, 120
16, 196
16, 727
18 390
12 938
17 502
9 297
9 943
14 732
12 622
4,754
4,131
3,161
3 655
Linage, total
thous. of lines
4 551
4 284
4 306
3 214
4 999
3 104
3 864
4 656
3 283
Newspaper advertising:
Linage, total (52 cities)
_.
do - . 224, 299 182, 932 180, 732 216, 155 233, 264 234, 644 216, 570 185, 771 199 363 218 909 244, 880 238 475 229 480
44, 499
Classified
do
43, 297
46, 054
51, 778
50, 024
55, 689
50 193
52 030
54 501
48 793
51 050
53 001
45 160
181,001 136, 878 136, 233 166, 131 181, 486 178, 955 164, 540 135 579 146 362 167 858 190 379 189 682 184* 320
Display, total
__
__ _ do _
9,240
10,048
10, 192
14, 147
11,336
Automotive
do
14, 647
15 129
12 572
11 520
15 617
10 781
9 760
8 074
2,457
3,099
2,897
4,071
Financial _
_
__ - do
3,065
2,905
2 921
3' 255
3 227
3 179
2 673
2 278
3 218
27, 608
22, 626
33, 979
26, 573 1 34, 084
General
_ do
34, 896
31,312
34 513
37, 559
23, 952
23 526
28 981
26 038
140, 449
99, 989
Retail
do
97, 963 117,611 130, 295 126, 506 115, 179
96, 880 109, 777 126,444 137, 069 136, 298 146. 991
'Revised.
v Preliminary.
§ Copyrighted data; see last paragraph of headnote, p. S-l.
cfData reported at the beginning of each month are shown here for the previous month.
9 Revisions for building cost indexes for August-November 1950 and July 1951 and for construction cost indexes for August 1950-November 1952 and May 1953 will be shown later.
*New series. Mortgage foreclosures, compiled by the Housing and Home Finance Agency, Home Loan Bank Board, represent estimates of the total number of mortgage foreclosures in all
nonfarm areas of the U. S. Television advertising cost, compiled by the Publishers' Information Bureau, Inc., covers gross time charges for network advertising on major television networks
(ABC, NBC, Columbia, and Du Mont).
tRevised series. Data reflect the adoption of a more recent comparison base (except for television) and adjustments of the radio and television
components to cover only the network portion of these media. Revisions prior to January 1953 will be shown later.
{Revised to exclude magazine sections of newspapers. Comparable
data prior to August 1953 will be shown later.
SURVEY OF CURRENT BUSINESS
February 19T>i
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Survey
ber
S-9
1955
IS 54
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
January
DOMESTIC TRADE—Continued
PERSONAL CONSUMPTION EXPENDITURES
Seasonally adjusted quarterly totals at annual rates: J
Goods and services, total bil. of dol -
229. 7
230.5
233. 1
234. 8
237.7
do
do
do
28.0
11.7
12.6
28 0
11.6
19 8
28 8
12.6
12 4
28.9
12.4
29.9
13.1
Nondurable goods, total
Clothing and shoes
Food and alcoholic beverages
Gasoline and oil
do
do
do
do
118.7
19.5
71.9
6.9
118.8
19 5
72.0
6 9
120.0
19. 7
72.5
7 0
121. 1
19 4
73.7
7.0
122. 1
20. 0
74. 2
7. 1
Services, total
Household operation
Housing .
__
Transportation
do
do
do
do
83. 0
12. 1
28.6
X3 6
12 0
29.0
7.2
S4 3
12. 1
29.3
7 2
S4 8
Durable goods, total
Automobiles and parts
Furniture and household equipment
RETAIL TRADE
All retail stores:
Estimated sales (unadjusted), total
r>. 6
12.8
85 7
12.3
29. 8
7.3
i
!
r>. 2
29. 5
7 3
16, 444
12, 339
12, 065
13, 540
14.324
14, 246
14, 658
14, 390
13, 896
14, 139
14, 665
14, 531
' 17,872
4,944
2.279
2,099
180
3, 861
2,124
2,014
110
4, 070
2,254
2,142
112
4, 768
2.771
2,644
127
4. 963
2.841
2,699
143
5, 020
2. 832
2,695
137
5, 458
3.095
2.936
159
5,022
2,747
2,588
159
4,916
2,672
2, 526
146
4,842
2, 536
2.399
136
4,853
2,491
2,344
147
4,786
2,478
2,338
141
5, 614
2, 824
2, 636
187
1,000
535
465
861
564
297
670
364
307
627
462
165
652
362
290
654
482
172
690
398
292
738
542
196
695
407
288
808
587
221
739
444
296
849
620
22S
758
438
319
918
686
232
733
422
310
919
687
233
730
434
296
923
707
216
740
433
307
936
706
230
812
488
325
947
704
243
836
503
333
898
652
246
do
do
...do
do
do
do
11, 500
1,364
352
524
291
196
8,478
678
160
271
132
115
7, 996
604
134
250
116
103
8,772
715
152
297
143
124
9,361
949
198
379
188
185
9,227
821
184
337
149
152
9, 200
852
204
326
163
159
9,368
722
154
283
147
138
S. 980
681
133
266
154
128
9, 296
847
164
323
188
172
9, 812
911
192
350
204
165
9,744
920
211
361
195
152
do
do
do
do
do
516
1,096
3,618
3,018
914
407
988
3, 357
2,837
855
394
962
3,112
2,607
800
401
1,004
3,340
2,799
870
398
1,035
3,422
2,866
903
406
1, 100
3,447
2,886
955
406
1, 134
3,385
2,833
989
407
1,221
3,689
3,121
1,052
396
1,207
3,374
2,828
1, 026
392
1, 156
3,475
2,920
975
406
1,139
3,661
3, 100
1,017
398
1,067
3,452
2, 893
994
' 530
1,113
3, 920
'r 3, 304
1, 008
General-merchandise group
Department stores, excl. mail-order
Mail-order (catalog sales)
Varietv stores _ _ _. . _
.
Other general-merchandise stores
Liquor stores
.
Estimated sales (adjusted), total
Durable-goods stores
Automotive group, . _ _
Motor- vehicle, other auto dealers
Tire, battery, accessory dealers
do
do
do
do
do
do
do
do
do
do
do
2,748
1,477
181
526
564
462
13, 932
4. 626
2,509
2, 365
144
1, 167
624
75
176
292
269
13, 622
4,436
2, 285
2,148
137
1,142
599
82
188
273
256
13, 972
4,745
2,502
2,349
153
1,330
724
94
198
314
266
13, 900
4,858
2, 738
2. 595
143
1,567
863
94
249
361
266
14, 242
4,882
2, 728
2,582
146
1,478
819
86
222
350
262
14,044
4, 730
2, 581
2, 449
132
1, 514
830
96
231
358
250
14, 439
5, 024
2, 826
2, 682
144
1,334
697
77
228
332
280
14, 272
4,911
2,640
2,490
150
1.424
761
95
231
337
264
14, 150
4,770
2, 571
2,430
141
1, 543
852
103
235
353
276
14, 214
4,798
2,564
2, 434
131
1, 686
923
107
255
401
283
14,071
4,689
2,485
2, 348
137
1,821
1, 025
140
265
391
287
14, 361
4,948
2, 685
2,547
138
'r 2, 850
1, 555
173
549
574
458
15, 123
5, 320
3, 054
2,904
Furniture and appliance group
Furniture, homefurnishings stores
Household-appliance, radio stores
Lumber, building, hardware group
Lumber, building-materials dealers
Hardware stores
do
do
do
do
do
do
738
418
320
820
597
223
784
443
341
827
599
228
779
453
326
849
619
230
758
433
326
784
570
214
777
440
337
781
566
215
769
436
333
800
582
217
740
423
317
818
598
220
775
447
328
846
614
231
724
415
310
864
644
219
728
426
302
867
645
222
752
444
308
875
648
227
744
448
296
905
674
231
766
475
290
909
668
241
do
do
do
do
do
do
9, 306
868
188
354
167
158
9, 186
845
187
339
163
156
9,228
878
199
341
177
162
9, 042
807
196
308
164
140
9, 300
876
200
340
182
153
9,313
822
194
330
160
138
9, 415
885
207
354
179
146
9,361
855
184
348
178
145
9,380
823
178
315
190
140
9,417
820
177
311
183
149
9,382
812
173
309
175
155
9,412
823
173
330
166
154
9, 803
912
188
374
177
173
do
do
do
do
do
408
1,064
3,432
2, 890
933
430
1,066
3,378
2,857
936
416
1,099
3, 396
2, 831
916
410
1,049
3,362
2, 831
915
416
1, 105
3,366
2,835
938
410
1,102
3,434
2,872
954
412
1,128
3,434
2, 860
956
403
1,141
3,443
2,887
955
404
1,107
3,497
2,927
969
410
1,106
3, 570
2, 992
950
407
1,085
3,522
2, 966
982
411
1, 070
3, 494
2,944
985
413
1, 070
3, 657
3, 103
974
1,629
870
118
260
381
308
1,505
823
96
236
349
316
1,528
822
100
250
357
297
1,490
806
98
226
360
289
1, 606
857
104
250
394
292
1,539
840
100
234
365
270
1,581
854
103
249
374
280
1,569
862
104
250
353
277
1,576
854
101
256
364
291
1. 566
849
100
257
359
283
1, 565
867
98
247
353
266
1, 570
870
101
258
341
266
1,669
904
107
285
374
281
do
do
do
21, 208
9, 876
11,332
2i,369
10, 233
11, 13f>
22, 046
10, 476
11,570
'23, 321
10, 913
12,408
23, 351
11,080
12,271
23,016
10, 898
12, 118
22, 131
10, 489
11,642
21, 843
10, 239
11, 604
22, 143
10, 164
11,979
22, 498
9,887
12,611
22, 633
9,570
13,063
' 23, 271
' 9, 838
13, 433
20, 672
9, 246
11, 426
Adjusted, total
... .
...
. do
Durable-goods stores
do
Automotive group
...do
Furniture and appliance group
do
Lumber, building, hardware group
do
22, 66J
10, 668
3,748
2, 039
2, 495
22, 521
10, 688
3, 895
I, 984
2, 437
22,421
10,584
3,868
1,994
2, 351
22, 563
10, 486
3, 807
2, 013
2, 313
22, 690
10, 412
3,773
1,992
2,315
22, 804
10, 502
3, 821
2,018
2,322
22, 600
10,383
3, 751
2, 001
2, 302
22, 403
10, 190
3,671
1,923
2,294
22. 451
10, 286
3. 743
1,915
2,318
22. 425
10, 234
3, 657
1,926
2, 336
21, 996
9,974
3, 361
1,930
2, 337
r
22, 173
10,161
3, 533
1,903
2, 405
mil. of doL-
Durable-goods stores
_
Automotive group
Motor- vehicle, other auto dealers
Tire, battery, accessory dealers
do
do
do
do
Furniture and appliance group
do
Furniture, homefurnishings stores
do
Household-appliance, radio stores
. do
Lumber, building, hardware group
do
Lumber, building-materials dealers
do Hardware stores
_ do
Nondurable-goods stores... _
A pparel group .
Men's and boys' wear stores
Women's apparel, accessory stores
Family and other apparel stores
Shoe stores
Drug and proprietarv stores . _ _
Eating and drinking places.
Food group
_ __
Grocerv stores
_
Gasoline service stations
Nondurable-goods stores
Apparel group
Men's and boys' wear stores
Women's apparel, accessory stores
Family and other apparel stores
S hoe stores. _ _ _
_ - . _ _ .
Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores.
. ...
Gasoline service stations
.
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
22, 130
'T 10, 079
3, 444
1,929
2,341
r
1
13, 313
! 2, 744
1
1, 025
600
425
916
597
319
12, 258
I, 448
354
566
313
215
T
r
r
690
i 670
1391
i 992
i 3,412
2, 845
i 931
1
i 1,218
i 669
m
11,837! 12, 077
12, 213
12, 191
12,302
12,278
12, 022
12, 165
11,833
12, 051
12, 217
11, 993
Nondurable-goods stores.
do
12,012
2,521
2,6121
2.594
2, 713
2,811
2,686
2,667
2. 736
2,700
2, 685
2, 726
Apparel group
. do- 2,697
2,572
2,416'
2, 394
2, 344
2,488
2, 365
2, 533
2, 586
2, 437
2, 578
2, 290
2,566
Food group
do
2, 306
2,298
3.772
3,742
3. 816
3, 730 1
3,721
3,732
3, 668!
3,673
3,858
3, 814
3, 738
3, 665
General-merchandise group
do
3,907
r
1
Revised.
Advance estimate.
t Re vised s eries, Q uarterly t stimates have bee i revised back to 1939; amulal data, to 1929. Revisions prior to 2d quarter 1953 for t he grand
total, total durable and nondurable goods, and services are shown as components of gross national product in table 5 on pp. 8 and 9* of the July 1954 SURVEY; those for the subgroups appearing
the 1954 issue of the National Income Supplement.
t Revised series. See corresponding note on p. S-3.
SURVEY OF CURRENT BUSINESS
S-10
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Surrey
ber
February 1955
1955
1954
January
February
March
April
June
May
DecemOctober NovemAugust September
ber
ber
July
January
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores— Continued
Firms with 11 or more stores:
Estimated sales (unadjusted), total
mil. ofdoLApparel group
do_
Men's and boys' wear stores
do
Women's apparel, accessory stores - - do
Shoe stores
do
Dru01 and proprietary stores
- - do Eating and drinking places
do
Furniture homefurnishings stores
do
General-merchandise group
do
Department stores
do
Dry -goods, other general-merchandise stores
mil. of doL .
Variety stores
do
Grocerv stores
do
Lumber building-materials dealers
do
Tire battery accessory stores
do
Estimated sales (adjusted) total
Apparel group
Men's and boys' wear stores
Women's apparel accessory stores
Shoe stores
Drug and proprietary stores
Eating and drinking places
Furniture homefurnishings stores
do
do
do
do
do
do
do
do
General-merchandise group
do
Department stores
do
Dry-goods, other general-merchandise stores
mil. of doL_
Variety stores
- - do
Grocery stores
do
Lumber building-materials dealers
do
Tire battery accessory stores
do
Department stores:
Accounts receivable, end of month:
Charge accounts
1947-49=100
Installment accounts
do
Ratio of collections to accounts receivable:
Charge accounts
percent
Installment accounts 9
do
Sales by type of payment:
Cash sales
percent of total sales _ _
Charge account sales
do
Installment sales
do
Sales unadjusted total U S J
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
do
- do
. .._
do.. .
do do
do
Sales adjusted, total U. S.J
Atlanta
Boston
Chicago
Cleveland
Dallas
Kansas Citv
Minneapolis
New York
3,457
287
35
113
81
88
57
33
2,240
120
12
45
37
60
50
22
2,150
113
10
45
36
57
49
25
2,429
155
14
58
48
59
54
31
i 2, 687
212
18
81
73
62
54
27
i 2. 603
165
14
66
57
61
55
32
i 2, 605
171
16
65
61
61
57
28
i 2, 643
139
11
58
52
63
58
28
i 2, 470
131
10
55
47
60
58
29
i 2, 598
170
13
62
63
60
57
28
i 2, 802
183
17
68
61
64
57
33
i 2, 743
186
20
71
54
61
54
32
i 3, 718
296
32
119
86
92
58
32
1,282
509
501
223
510
220
604
278
737
346
697
347
729
354
655
314
692
321
732
355
797
380
848
385
1,360
570
194
410
1, 129
50
72
76
133
1,097
41
37
71
144
1,000
47
39
84
155
1,086
54
43
108
198
1,128
60
50
96
174
1,114
64
49
104
182
1,069
70
59
94
175
1,206
70
58
104
178
1,029
72
52
98
184
1,077
75
49
120
199
1,183
71
51
125
210
1,081
68
49
203
425
1,288
58
74
2,620
2,543
2,585
2,584
167
15
62
56
61
55
30
12,613
167
14
67
54
62
56
30
175
16
69
56
64
55
29
i 2, 595
160
14
63
53
63
54
28
i 2, 619
167
16
66
54
63
55
28
i 2, 652
164
15
67
54
64
55
32
i 2, 655
166
16
65
55
63
55
29
i 2, 654
168
16
63
57
64
55
29
1 2, 607
168
15
64
59
63
54
30
i 2, 660
177
17
67
59
63
57
27
i 2, 797
188
18
75
62
66
57
27
188
20
75
56
63
54
23
164
14
64
54
62
54
29
760
318
693
312
715
324
718
330
736
344
702
322
740
338
730
336
748
345
745
351
722
334
745
345
819
385
130
203
1,064
59
50
103
186
1,082
56
51
104
195
1,087
61
52
105
191
1,090
61
49
105
192
1,088
60
51
99
187
1, 120
62
48
106
199
1,098
62
52
107
190
1,128
63
54
109
200
1,119
63
49
102
199
1,120
64
51
105
193
1,108
61
52
107
200
1,116
67
50
120
216
1,154
70
52
194
259
159
252
138
243
127
236
131
236
130
233
130
232
117
226
117
228
127
231
135
238
150
249
200
277
46
14
45
13
43
14
48
15
14
46
14
47
14
45
14
45
13
46
13
47
14
48
13
46
14
48
43
9
47
42
11
46
43
11
46
43
11
46
44
10
4;
43
10
46
44
10
47
42
11
46
43
11
45
44
11
44
44
12
45
44
11
47
43
10
192
219
194
188
' 186
"210
189
171
178
'190
'215
185
195
83
94
83
82
80
94
83
75
81
80
80
83
85
86
101
81
83
80
98
86
83
83
84
89
88
86
89
110
86
86
82
102
90
79
85
91
97
92
88
110
129
108
109
105
119
110
101
101
109
124
112
107
106
120
102
108
98
119
109
104
98
104
114
106
107
106
114
106
108
KM
112
108
96
99
104
113
110
105
88
106
77
86
82
111
97
84
7c
78
93
89
100
98
115
83
98
94
115
104
99
80
85
102
100
112
123
115
113
105
121
114
111
106
111
122
111
112
118
141
110
114
111
135
121
122
110
113
130
123
116
137
154
••133
133
134
147
130
'120
132
146
153
137
134
'201
P233
P200
v 192
v 192
P225
P201
P180
P184
p 198
P232
P193
P210
P90
113
127
108
115
112
125
114
107
101
109
123
109
107
104
121
109
108
102
111
117
112
107
105
117
102
101
92
115
103
95
99
106
119
108
111
111
127
105
111
104
120
113
100
102
109
122
114
111
108
122
102
108
98
123
109
104
100
105
115
106
114
112
129
106
110
107
127
115
103
102
109
120
122
114
111
132
107
106
105
132
118
105
101
109
117
112
115
112
131
104
108
108
127
112
105
105
107
120
110
115
107
113
138
110
111
106
129
116
106
105
105
124
112
116
114
135
' 110
110
109
130
113
••104
105
111
124
115
114
'118
P136
pill
P117
p 116
P 134
"117
109
lOf
101
114
107
101
102
107
115
104
110
p 113
P 105
p 113
P133
P 118
P 118
do
do
do
'123
113
109
do
do
109
123
108
120
114
119
126
121
127
120
126
121
116
122
115
124
120
124
129
125
138
124
139
124
p 110
P 123
511,657
231, 649
52, 587
179, 062
228, 687
53, 131
175, 556
278, 044
67, 406
210, 638
333, 209
83, 562
249, 647
335, 726
78, 109
257, 617
352, 655
313, 704
69, 881
243, 822
327, 837
77, 591
250, 247
345, 570
81, 298
264, 272
370, 634
88, 435
282, 199
384, 428
93, 531
290, 898
523, 056
131, 875
391, 181
9,152
2, 959
6,193
8,014
8,103
2,628
5,475
9,135
8,751
8,526
5,745
9,465
3,060
6,405
9,515
2,781
5, 589
9,461
2,984
6,477
9,632
3,089
6,543
11,697
5,678
11,937
5,863
11,914
11, 553
11,488
11, 503
11, 627
5,712
5,915
11, 752
5,642
6,110
- do
do
do
do
do do
do
- - - do
- - do
' 109
Richmond
St Louis
San Francisco
Stocks, total U. S., end of month:t
Unadjusted
\djtisted
Mail-order and store sales:
Total sales, 2 companies
thous. of dol
Montgomery Ward & Co
. _ .
do
Sears Roebuck & Co
do
WHOLESALE TRADE
Sales estimated (unadj.), total f
_ mil. of dol
Durable-goods establishments.
do - .
Nondurable-goods establishments
_
do
Inventories estimated (unadj ) totalf
Durable-goods establishments
Nondurable-goods establishments
111
107
122
105
106
104
119
110
104
101
106
109
108
108
-
do
do
- - do_ ._
138, 930
372, 727
6,019
2,425
6, 074
5, 947
5,967
2,928
6,207
11,843
6, 053
5,790
2,902
5,849
11,601
6,022
5,579
6,040
5, 513
81,318
271,337
5,881
5,607
2,872
6,643
5,720
5,783
r
r
9, 469
3,095
6, 374
11, 944
5,641
6, 303
'r 9, 627
3, 023
' 6, 604
'11,916
5,611
r
6, 305
T>
121
266. 312
53, 456
212, 856
9,597
3,007
6,590
11,564
5,460
6,104
' Revised.
* Preliminary.
i Excludes comparatively small sales amounts for certain lines of trade also excluded from this series prior to April 1954.
9 Revised beginning 1953; not strictly comparable with earlier data.
JData for 1946-53 have been revised to reflect changes in seasonal factors and other minor changes. Unpublished
revisions (prior to July 1952) will be shown later.
t Revised series. See corresponding note on p. S-3.
SURVEY OF CURRENT BUSINESS
February 195;
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
1953
S-ll
1954
January
December
February
March
April
May
June
1955
July
August
Septem- October Novem- December
ber
ber
January
EMPLOYMENT AND POPULATION
POPULATION
Population, continental United vStates:
Total, incl. Armed Forces overseas©
thousands..
160, 873
161,100
161, 331
161, 542
161, 763
161, 969
162, 187
162, 414
162, 670
162, 947
163.211
163. 465
163, 698
163, 930
115, 634
115, 738
115,819
115,914
115, 987
116,083
116,153
116 217
116, 329
116 432
116 547
116,659
116,763
116 855
66, 485
66, 292
67, 139
67, 218
67, 438
67, 786
68, 788
68, 824
68, 856
68, 566
68, 190
67, 909
66.811
66, 700
62, 993
60, 680
5 370
55, 310
2 313
62, 840
59,753
5 284
54, 469
3 087
63, 725
60, 055
5 704
54, 351
3 670
63, 825
60, 100
5 875
54, 225
3 724
64, 063
60,598
6 076
54, 522
3 465
64, 425
61,119
6,822
54, 297
3,305
65, 445
62, 098
7 628
54, 470
3 347
65, 494
62 148
7 486
54 661
3 347
65, 522
62 277
6 928
55 349
3 245
65
62
7
54
3
244
145
527
618
100
64,882
62 141
7 239
54 902
2 741
64, 624
61, 732
6 154
55, 577
2 893
63, 526
60 688
5 325
55, 363
2 838
63
50
5
54
3
49, 149
49, 446
48 680
48 696
48, 549
48, 297
47 365
47 393
47 473
47 865
48 357
48 750
49 952
50 155
50, 197
16, 765
9 773
6,992
48, 147
16, 434
9,591
6,843
47, 880
16 322
9 480
6,842
47, 848
16, 234
9 389
6,845
48,068
16, 000
9 260
6,740
47, 935
15,836
9 152
6,684
48, 137
15, 888
9 123
6, 765
47 808
15 627
8 863
5' 754
48, 045
15 863
8 875
6 988
48 526
16 019
g' 950
7' 069
48, 668 r 48, 827 T 49 476 P 47
16 058 r 15 107 T 15 o<)5 P 15
9 065 rr 9 182 r 9 201 p 9
6 925 T 5 894 P 5
6*993
822
106
49
266
805
104
46
261
790
103
45
252
772
102
42
237
749
98
39
220
737
99
29
213
744
100
27
214
735
100
719
89
25
205
r 32
202
737
98
25
207
298
104
2 632
4,187
1,329
127
704
43
556
295
99
2 349
4,069
1,266
127
701
42
555
291
98
2 356
4,039
1,244
126
701
41
554
292
99
2 415
3,992
1,215
126
700
41
555
291
101
2 535
4,008
1,206
125
700
42
556
292
103
2 634
4,008
1,216
124
699
41
557
300
104
2 729
4,032
1,229
123
699
41
563
303
105
2 795
4,043
1 232
122
705
41
569
301
105
2 851
4,030
1 224
121
703
41
569
295
105
2 817
4,032
1 216
120
696
41
564
287
104
2 777
4^012
1 207
120
r 594
41
560
11 361
2,830
8, 531
1,960
1 429
839
2,040
5 435
475
335
167
6,955
10 421
2,794
7,627
1,369
1 401
825
2, 033
5 377
467
333
165
6 659
10 310
2 792
7,518
1 305
1 406
818
2,044
5 380
474
330
163
6 639
10 305
2 780
7,525
1 319
1 399
812
2,057
5 406
474
329
164
6 667
10 496
2 762
7,734
1 409
1 420
808
2,075
5 506
'488
331
171
6 699
10 375
2,746
7,629
1,339
1 416
809
2,081
5 563
502
334
171
6 701
10 414
2 757
7 657
1 325
1 422
812
2,104
5 601
527
337
172
6 625
10 377
2 780
7 597
1 290
1 414
812
2,126
5 638
'584
338
167
6 467
10 350
2 781
7,569
1 290
1 405
810
2,126
5 634
583
332
162
6 454
10 480
49, 109
16,704
9,733
6,971
48, 812
16,497
9,599
6, 898
48 607
16, 349
9 467
6,882
48 441
16, 262
9 364
6,898
48, 268
16, 122
9 245
6,877
48, 177
16, 038
9,171
6,867
48 102
15 994
9 126
6, 868
47 982
15 775
8 962
6, 813
47 945
15 733
8 910
6,823
818
2,686
4,176
10, 579
2, 050
5 490
6,606
805
2, 581
4,118
10, 577
2,054
5 487
6,693
794
618
087
543
065
490
661
772
2,654
4 012
10, 552
2 067
5 488
6,634
753
2,641
4 015
10, 524
2 075
5 506
6,632
744
2,634
4 Oil
10,494
2,081
5 508
6,667
740
2,624
4 016
10,480
2 083
5 518
6 647
742
637
014
507
095
555
657
730
2 640
4 001
10' 504
2' 095
5 551
6 691
EMPLOYMENT
Noninstitutional population, estimated number 14
vears old and over, totaled
. ._. -thousandsTotal labor force, including Armed Forces
Civilian labor force, total
Employed
Agricultural employment
Nonagricultural employment
Unemployed
do
do
- do
do
. do_ _
do
N^ot in labor force
do
Employees in nonagricultural establishments^
Total, unadjusted (U. S. Dept. of Labor)
do
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.- .
do ._
Local railways and buslines
_. do
Telephone
do
Telegraph
do
Gas and electric utilities
do.-_
Wholesale and retail trade
Wholesale trade
_ _ _ _
Retail trade
General-merchandise stores.
__
Food and liquor stores
Automotive and accessories dealers
Finance, insurance, and real estate
Service and miscellaneous
Hotels and lodging places
Laundries
Cleaning and dyeing plants
Government
Total, adjusted 9
Manufacturing
Durable-goods industries
Nondurable-goods industries
do
do
- do _ _
do
do
do
do
do
do
-do
do
do
do
_ __do
do
do
Mining
do
Contract construction . _ _ _ _ _ _
.do _ . Transportation and public utilities
do
Wholesale and retail trade.- - - _ _ _ do _ . _
Finance, insurance, and real estate
_ - do
Service and miscellaneous
do
Government
_ --.do -
2
4
10
2
5
6
2
4
10
2
5
6
2 786
7' 694
1 360
1 ' 4-1 q
804
2,115
516
329
163
1 K 7OQ
6,848
2
000
1 n 4sn
716
90
203
r 721
93
32
204
r 720
92
497
150
?97
853
347
80°
939
13'"
797
p 719
P 93
203
289
103
101
' 2 724 rr 2 547
'3,992
3, 997
1 187
118
694
41
559
p 98
P 2 3^0
p 3, 941
r 2 849
T 8 551
r i 935
1 456
'823
' 2, 110
•p 10 f)08
P 2 819
P 7 g8q
P 1 343
•p i ^25
P810
p 2, 100
v ft
'
r 7 129
p R S'^Q
10 581 r 10 782
2' 815 r 2 844
7 766 T 7 938
1 410 r i 531
1 428
1 438
801
808
2,110
2,108
5r 549 r 5 511
479
468
330
328
166
165
6 865 r g 882
r 11 400
48 209 r 48 398
15 886 r 15 018
9 035 T 9 14]
6,851 ' 6, 877
r 48 390 p 48 463
r 15 034 P 15* 995
T 9 159 P q 147
r 6, 872 P 6, 849
r K. 470
r 717
f
716
2 6209 r 2 645 r 2
3
r
3
q82
4 OO
T
10 476 r 10 532 T 10
2 121
2 119 T 9
5 549 r 5 539 r e
6 839 T g 846 r «
71 fi
599
987
515
121
533
704
p
P 2
P 3
f 10
P 9
719
58^
98 T
555
191
T> fi 871
Production workers in manufacturing industries: 9
19 511
12,212
13, 319
Total (U. S. Dept. of Labor)
thousands
12, 449
13, 002
12 480
12 652 r 12 597 r 19 585 p 12 ^9$
12, 437
12,590
12 818
12 906
Durable-goods industries
do
6 917
6 933
7 309
7 791
7 208
7 616
7 177
7 133 r 7 247 r 7 9fi;>
7 430
7 520
7 015
Ordnance and accessories.,- _ _
do_
109
184
T
HO
117
125
113
137
177
p 105
120
112
150
165
114
Lumber and wood products (except furniture)
604
654
thousands. 679
617
701
613
643
649
627
720
-713
697
p 657
'685
Sawmills and planing mills
do
324
344
359
372
361
331
351
347
343
381
379
378
Furniture and
fixtures
do
272
301
r 9Q/1
293
277
288
275
9QK
290
283
292
299
299
*.o<
424
Stone, clay, and glass products
do
448
428
427
434
427
429
428
427
t -T^Q
438
Glass and glassware, pressed or blown, __do
74
.83
77
78
78
78
76
78
78
76
76
76
Primary metal industries
do
1,074
991
1,049
983
969
1,010
976
968
1,027
969
'988 ' 1,003 p 1,007
965
Blast furnaces, steel works, and rolling mills
534
485
491
522
thousands. _
483
484
502
488
511
'481
489
485
Primary smelting and refining of nonferrous
metals..
_.
_._
thousands
48
48
47
48
47
48
48
48
49
45
48
46
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
thousands -_
875
874
809
833
831
852
840
864
819
820
829
'845
'843
P 843
Heating apparatus (except electrical) and
plumbers' supplies
thousands. .
89
97
92
92
90
91
90
95
91
98
98
98
-t irvo
Machinery (except electrical) _.
_
do
1,238
1,230
1, 108
1 202
1 151
1 187
1 165
1 093
1 220
1 095
1 091 r 1 091 r 1 1H^
Electrical machinery
do
883
855
776
827
r 898
765
791
782
811
839
802
817
Transportation equipment
_ do
1,487
1,470
1 342
1 324
1 277
1 409
1,380
1 237
1 435
1 184
1 246 r 1 326 f 1 "371
Automobiles
do .. . .
r 549
707
677
594
637
625
561
601
534
655
478
630
r 551
Aircraft and parts
do- _
586
602
570
565
592
585
575
596
556
559
552
Ship and boat building and repairs
do
126
125
120
122
111
109
115
116
102
101
102
98
Railroad equipment
_. .
do
60
59
42
34
53
48
44
55
37
36
37
36
Instruments and related products
do
241
237
215
229
224
233
220
210
210
214
213
213
'213
P211
Miscellaneous mfg. industries
do
407
389
386
375
374
380
393
363
378
392
398
395
'379
"366
r
Revised. *> Preliminary.
©Minor changes hav,e been made for May 1950-October 1951. Revisions for November 1951-December 1952 appear at bottom of p S-10 of the March 1954 SURVEY
cPMonthly data for January-December 1953 have been revised to improve the overall reliability of the estimates and to provide figures more comparable with data beginning Januarv
1954 which are based on the expanded sample. The revised estimates for 1953 appear in the January 1955 SURVEY.
J<*uu<*i.
9 Data for employment and hours and earnings have been revised effective with the June 1954 SURVEY to adjust to the first quarter 1953 benchmark. Revisions beginning 1951 are available
upon request to the Division of Manpower and Employment Statistics, Bureau of Labor Statistics, 17. S. Department of Labor, except for the estimates of employment adjusted for seasonal variation
which are available from the Board of Governors, Federal Reserve System. Beginning September 1954, the estimates of the number of employees by industry division and the number and index
of production workers m manufacturing industries (p. S-12) adjusted for seasonal variation are compiled by the U. S. Department of Labor, Bureau of Labor Statistics The BLS is currently
using the seasonal factors formerly used by the Board of Governors, Federal Reserve System.
'
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated, statistics through 1952 and 1953
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Survey
ber
February 1 !>.">,'
1954
January
February
March
April
May
June
19.*5
July
August
Septem- October Novem- December
ber
Jann-
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT—Continued
Production workers in mfg. industries?— Continued
Total (U. S. Dept. of Labor)— Continued
Nondurable-Roods industries .
thousands- .
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
Knitting mills
do
A pparel and other finished textile products
thousands
Men 's and boys' suits and coats
_ . _do
Men's and boys' furnishings and work clothing
thousands. Women's outerwear
do
Paper and allied products
do _
Pulp, paper, and paperboard mills
do
Printing, publishing, and allied industries
thousands- .
Newspapers
C^ommei'ci'vl printing
Chemicals and allied products
Industrial organic chemicals
Products of petroleum and coal
Petroleum refining
Rubber products
Tires and inner tubes
Leather and leather products
Footwear (except rubber)
do
__
do
do
do
do
do
do
do
... do _
do . - _
Production workers in manufacturing industries, adjusted 9
Total
- thousands
Durable-goods industries. . _ - do
Nondurable-goods industries
-do
Production workers in manufacturing industries: 9
Indexes of employment:
Unadjusted
1947-49=100..
Adjusted
_ . .
.
do
Miscellaneous employment data:
Federal civilian employees (executive branch) :cT
United States, continental __. .
thousandsWashington, D. C M metropolitan area
do
Railway employees (class I steam railways) :
Total
*
- thousands.
Indexes:
Unad j usted
1935-39 = 100 .
Adjusted
do
1
5, 528
1.083
267
74
149
177
120
104
1,028
477
199
5, 386
1,024
256
73
132
173
115
97
997
466
190
5, 386
1,009
250
74
125
175
112
80
995
463
194
5, 388
1,009
246
1 , 084
121
1.062
119
275
331
442
221
5,295
126
174
115
84
989
460
193
5, 281
1,011
241
80
135
174
117
82
979
455
192
5, 229
1,031
239
84
144
172
122
82
969
452
192
5, 303
1,079
247
88
165
174
127
82
981
457
197
1, 142i
246
88
225 1
176
133
83
953
442
192
5. 516
1. 224
251
85
306
174
127
102
981
452
202
5. 596
1.252
257
81
332
173
122
110
987
453
204
5,519
1,169
'262
77
'234
••204
' 5, 450 '5.421 * 5.32S
T
1, 052 f 1.000
' 1, 102
263
75
176
174
118
103
' 101
r n
'995
'992
-155
204
1,088
122
1,101
121
1 , 030
IK
985
105
987
108
980
107
1.050
115
1 , 053
114
1,050
"•110
' 1, 053 ' 1,065
106
268
333
438
219
271
344
437
218
275
349
436
219
268
314
433
217
261
287
433
218
262
284
436
220
248
296
430
217
269
317
436
219
273
312
441
220
'276
'305
440
'218
275
313
'440
218
525
148
173
540
217
181
139
209
87
332
219
514
142
171
540
214
178
138
206
86
332
222
514
143
169
536
207
178
138
203
85
339
225
517
146
168
539
204
177
137
199
85
338
226
516
146
168
534
202
176
137
195
83
325
218
515
147
167
525
201
179
138
197
84
315
211
519
148
168
517
201
181
140
198
85
324
217
513
145
167
513
201
181
141
173
67
327
218
514
145
167
516
201
179
139
177
68
337
224
523
147
170
524
201
1 77
137
199
85
330
217
525
148
170
529
202
175
' 135
204
87
329
'213
524
148
170
528
205
' 173
135
'205
86
'331
217
13,251
7,748
12,840
12,705
7, 295
5,410
12,632
7,227
12.371
7,020
12, 334
5, 405
12, 589
7,182
5, 407
12, 388
7, 405
5, 435
5, 351
5, 362
5. 381
12, 485
7,104
5, 381
102.3
100.9
' 175
' 119
' 110
998
' 453
'438
f 433
' 525
r- 519
528
' 528
' 172
' ] tift
'210 " " " ' 211
'335
' 12,610 ' 12, 622
13,063
12,935
5, 503
7, 621
5, 442
7, 509
5, 426
107. 7
107. 1
105. 1
105.6
104. 3
104. >
103. 6
103. 8
101.8
102.7
100.5
102.
100.9
101.8
98.7
100.0
100. 6
99.7
102.0
100.2
2, 453. 6
i 211.7
22,157.6
2
2, 148. 7
206. 6
2.147.0
2, 141.4
206. 7
2, 134.0
205. 7
2, 137. 6
2, 135. 4
2, 130.9
206. 4
2.115.9
207. 1
1.190
1,139
1, 114
1,089
1,081
1,091
1.104
1, 107
1,099
1,092
1 , 083
' 1,064
P 1 , 058
113.2
115.0
108. 6
112.9
106. 2
108. i)
103. 8
106.5
103.1
104.8
104. 1
104. 5
105.3
103. 9
105. 7
103. 5
104.9
102.8
104. 3
101.8
103. 4
100. 0
p 101. 5
p 100.6
P 102. 3
P 100. 7
147.2
140.8
140. 5
138.4
135.0
135. 1
136. 6
132. 3
135. 1
138.4
' 139. 6
206. C)
207.7
207.4
6,972
7,007
204. 7
' 1.052
' 330
> 12. 58S
' 7, 206
' 5, 404
' 7, 226 F 7. 2KJ
' 5, 396 * 5. 378
' 102. 7
' 101.9
' 102. 6
' 102. 0
* 101.3
' 101. 8
2. 121.3 '2. 138.7 2. 128.4
205. 5
' 206. 0
205. 5
PAYROLLS
Manufacturing production-worker pavroll index, unadjusted (U. S. Dept. of Labor) 9 . I -..1947-49 =100.
142.8
' 144. 0
f 141. 5
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor) : 9
40.2
39. 9
" 40. 2
' 40. ('»
39.6
39. 7
39. 7
39. 6
39. 3
39. 0
39. 5
39.4
40.2
39.4
\11 manufacturing industries
.hours.
40.8
40.4
41. 1
40. 1
39. 9
'•• 40. 9
39. 7
40. 0
40. 1
40.0
39.7
40.2
40. 1
40. S
Durable-goods industries. . .
do
40.8
40. 5
' 40. 7 '• 39. 8
40. 1
40.1
40. 0
39. 7
40.1
40.2
40. 1
40. (
40. <
40.1
Ordnance and accessories.do
Lumber and wood products (except furniture)
r
41.5
41.5
p 40. 3
40. 9
40.4
41.5
39. 9
40.
40. 9
40. 8
40. 2
39.4
40. 2
40. 0
hours
42.0
41.9
42.2
41.2
40. 5
40. 6
40.
41.7
40. 6
41.7
39.2
40. 4
Sawmills and planing mills. . . - - - . - do_ _ .
41.0 i " ' 4 1 . ? " " /' 40. 4
41.2
39. 6
40.8
40.6
40.
39. 5
38.8
39. 1
40. 1
39.6
40.7
Furniture and
fixtures
do
41.1 j
41 . 2
40. 4
f 40. 4.
40.3
40.4
40.1
' 41. (
40.7
40.7
40. 4
40.
39.7
40.7
Stone, clay, and glass products
do
39. 7
39. 2 ~"'r~4Q~2
38.8
39. 3
39. 1
39. 0
38. 4
38.3
39. (j
39.
39. 0
39. 4
Glass and glassware, pressed or blown ...do...
38.
S
38.
{)
39.
3
38.
8
P 40. 5
38.
5
38.
3
38.
4
38.4
38.
0
38.
39.
3
39.
8
Primary metal industries
do
Blast furnaces, steel works, and rolling mills
37. 7
38. 4
37.4
37. 3
38. 0
37. 6
37. 1
38. i)
37. 5
37.8
36. 8
39. 2
hours..
Primary smelting and refining of nonferrous
. .
40. 3 1
40. 0
39. 3
40. 2
40. 3
39. 8
39. 8
40.0
39. 9
41.7
41.1
40.6
metals
hours
Fabricated metal prod, (except ordnance, mar
41.2
40. 9
40. 5
'• 41 . 5
40.7
41.7
40. 7
40. 1
40.7
40. 7
40.4
40. 6
40. 0
41.5
chinery, transportation equipment) _ .hours
Heating apparatus (except electrical) and
40. 7
40.4
40.1
40. 0
40.1
39. 4
39.1
38.4
39. 3 i
39.3
38. 6
39. 8
plumbers' supplies
- . ..
hours..
40.2
40.3
40.2 1
'40.9
40.3
p 40. 6
40.5
40. 0
40.5
40.1
41.3
41.1
41.2
42.0
Machinery (except electrical)
do
40.7
40.4
' 40. 5 * 40. 5
39. 8
40.1
39.6
39. 3
39. 5
39. 2
39. 6
39. 9
39.3
40. 2
Electrical machinery
do
40.4
41.
f
40.2
P 42. 2
'
4
2
.
5
40.0
39.9
40.2
40.6
40.1
40.2 !
40. 5
39.8
40.7
Transportation equipment
- . _ . - - . do
42.4
40.6
39.8
40.0
39. 3
40. 9
39. 2
40.4
39.5
39.5 |
41.0 i
40.1
\utomobiles
do
j
41.4
40.7
40.8
40.8
40.8
40.7
40. 5
40.7
41.0
41.2 1
40. 6
41.8
Aircraft and parts
do
38.7
38.5
37.9
39.0
39.1
38.8
38.7
39. 1
39.4
39. 0
38.0 i
39. (
Ship and boat building and repairs
do
40.0
38.2
38.4
36.8
38.6
38.5
38. 2
38.5
39.2
39. 5
39.2
39. f
Railroad equipment
do
40. 3 i
40.1
39.5
' 40. 5
P 40. 3
39.9
39. 8
39.5
39. 6
40.2
39.6
40.4
39.9
41.3
Instruments and related products
do
Miscellaneous mfg. industries
do....
40.7
39.4
40.1
40.0 39.2
39.4
39.0! 39.0
39.9
40.0
40.5
40.4
' 40. 7
MO. 2
l
2
' Revised.
p Preliminary.
Includes temporary Post Office employees hired during Christmas season; there were about 289,000 such employees in all areas.
Data beginn ng Jaimary 1954 are revised to include additional employees now classified as Federal employees although they are paid from funds appropriated to the District of Columbia. Adjusted data for December 1953, comparable with January 1954: Continental U. S., 2.454,300; Wash., I). C., 212,400.
9 See corresponding note on p. S-ll.
cTData beginning January 1953 exclude employees in the General Accounting Office and Government Printing Office who were transferred to the legislative branch; employment m these
agencies at the end of January 1953 was as follows: Continental United States— GAO, 6,200; GPO, 7,700; Wash., D. C.— GAO, 4,600; GPO, 7,400. Also, the data beginning January 1953 exclude
i onn employees
^TV^I^TT^O of
^t Howard
TT/^Trrr.^/1 University
T7v,?.r™»*o?fTT and
oTirl Gallaudet
rioUonrlof College
Pnllocro who
whn are
nrA not
nnf now
nnw classified
P nssifipH as
«<; Federal
Fp.Hpral employees.
pmnlnveps In
Tn addition
nflrlitirvn to
to the
the flfnrement
inner! exclusions,
exclusions, the
the January
Tanuarv 1953
1953figure
figure for
1,300
aforementioned
for
Continental U. S. reflects a downward revision of approximately 16,000 employees based on more accurate reports from the Post Office Department.
SURVEY OF CURRENT BUSINESS
February 11)55
1954
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 19-53 Statistical
Supplement to the Survey
December
S-13
January
February
March
April
May
June
1955
July
August
Septem- October Novem- December
ber
ber
January
EMPLOYMENT AND POPULATION—Continued
LABOR CONDITIONS— Continued
Average weekly hours per worker, etc. — Continued
All manufacturing industries, etc. — Continued
Nondurable-goods industries 9
hours
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
Knitting mills
do
Apparel and other finished textile products
hours.Men's and boys' suits and coats
do
Men's and boys' furnishings and work clothing
hours ._
Women's outerwear
do
Paper and allied products
do
Pulp, paper, and paperboard mills
do
Printing, publishing, and allied industries
ho UTS. .
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
Xonmanufacturing industries: 9
Mining:
Metal
do
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production hours
Xonmetallic mining and quarrying
do
Contract construction
do
\onbuilding construction
do
Building construction
do
Transportation and public utilities:
Local railways and bus lines J
do
Telephone
do
Telegraph
do
Has and electric utilities
do
"Wholesale and retail 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 and miscellaneous:
Hotels, vear-round
do
Laundries
do
Cleaning and dyeing plants
do
39.3
41.3
41.6
43. 5
37.9
41.0
40.1
39. 3
38 8
40.5
39.7
43 3
37. 5
41 0
40,0
35. 9
38. 0
37,9
37 0
38.8
40.4
39.7
43 2
36.7
40.8
40,1
36.0
38.0
38.0
36 9
38, 1
40.2
39 5
43 3
36.2
40 9
40.5
36.3
37.1
37.2
35 6
38.5
40.8
40.4
43.4
38.0
41.0
40.3
37.3
37. 3
37.1
36. 1
38.9
41.4
41.0
44.6
38. 6
41.4
41.1
38. 3
37.8
37. 6
36 9
39.0
41.5
41.7
44.6
39.4
41.1
41.5
37.9
37.8
37.8
36.6
39.2
41.2
40. 9
43.2
40. 5
40.8
40.6
38.5
38.5
38.4
37.6
39.3
41.5
41.2
43. 6
40. 8
41.0
40.6
39.4
38. 6
38.7
37. 5
39.2
40.9
41.5
43. 5
38.4
40.7
40.4
40.1
39.2
39.5
38.3
39.5
41.4
43. 0
42. 6
37. 1
40.8
39.9
36.9
39.9
40.4
38.6
'39.7
'41.4
*39. 2
p 40. 5
38.4
38.6
37 1
38.5
40.9
41.5
43 1
37.7
40.8
39. 3
36.2
37.4
37.5
36 1
' 38. 2
MO. 2
p37. 1
v 39. 5
35.9
30. 6
34.8
34.9
36. 1
36. 0
36.2
35, 6
34.3
32.9
34.9
32.9
35. 0
34.0
35. 2
35.5
36.2
35.0
35. 9
35.4
35. 7
'32.9
36. 1
33. 9
"36.4
p 35. 9
35. 7
35. 5
42.8
44.0
34.4
34.5
41.9
43.4
35. 9
35.7
41.9
43. 3
36.1
35. 9
42. 1
43.4
34.6
33.8
41.6
42.8
34.8
34.8
42.1
43.2
35.4
33. 7
42.4
43.6
35. 5
34.1
42. 4
43.8
36.9
35.2
42.6
43.6
36.7
34.1
42.5
43.6
' 36. 8
' 33. 6
42.7
' 43. 7
36. 6
34.9
42.8
43.8
<• 42.7
v 42. 5
39.3
37.4
40.5
41.5
40.7
40.7
40.7
39.2
37 3
37.7
37.2
38.4
35.6
39.9
41.1
40.5
40.5
40.5
38.7
37 5
37. 6
37.4
38.2
35. 6
39.3
41.1
40.4
40.3
40. 2
38.9
37.4
38. 0
37.9
38.6
35.7
39.8
41.1
40.2
40.2
40.2
38.5
36 6
37.7
37.3
38.1
35.9
39.3
41.1
40.3
40.3
40.2
38.7
37 9
35. 6
34.9
38.2
36.1
39.1
40.9
40. 5
41.2
41. )
39.7
39 4
35.4
34.5
38. 3
36.1
39.0
41.2
41.0
41.4
41.0
40.2
40. 2
36. 7
35. 9
38.3
35.8
39. 5
40.9
40.5
41. 1
40.8
39. 4
38. o
37. 5
37. 2
38.5
35. 6
39.4
40.9
40. 5
41. 0
40.7
39. 1
37.4
37.4
36. 9
38.6
36.0
39.4
41.2
40.9
41.2
40. 6
39. 3
38 3
36. 2
35. 1
'38.4
'36.0
39.4
'41.2
' 40. 6
' 40. (i
'40.4
' 41). 4
T
39. 3
' 35. 7
' 34. 3
38.5
35.9
39.6
41.3
40.8
40.8
40.7
41.2
40.8
36. 9
35.8
'39.0
"38.1
44 o
26.2
33.3
43 6
28 6
33.2
41 7
29.7
32.0
40 5
25.6
29.7
39 8
26 2
28.9
40 0
25.4
30.9
40.7
36.3
33.2
40.4
29 2
30.4
40 9
33. 0
33. 1
40 4
23 6
32. 6
' 40 2
'34. 1
' 35. 3
40 5
33. 7
35.4
40 2
44.0
36.8
39. 1
36.3
40 7
41.0
34.3
36.0
33.9
40 3
42.9
36.7
39.8
36.0
40 2
42.9
37.0
39.7
36.4
40.2
43.4
37.0
39.3
36.5
41.3
44.5
37.5
40.6
36.7
40.1
44.9
38.1
41.8
37.1
40.6
45.2
38.1
42.3
36.9
41.4
45. 1
38.0
42.0
37.0
40 8
44 7
36.8
39 9
36.0
' 40. 2
'44.9
37.4
' 40. 4
36. 6
40.4
44.5
37. 1
41.0
36.1
44.5
38.5
41. 1
41.6
44.4
38.2
40.9
41.3
43 4
38 0
41 4
41. 1
43.2
38.2
41.2
41.0
43 1
38.2
42. 1
41.0
43.3
38.5
42.1
41.0
43.7
38.7
41.7
41.2
42.9
39.2
41.7
41.5
43.0
38.9
41.8
41.3
42
40
41
41
7
0
9
7
' 42.8
'39.8
42. 1
' 42. 0
42.4
. _Ml. 3
P 41. 2
' 40. 5
v 40. 5
'41.8
p 41. 5
' 37. 8
P 37. 9
39. r
41.5 _ _
41.3
40 7
40 2
40 2
40 2
40 2
40 4
40.4
40.4
40 4
40 4
' 40 5
40 5
39.2
36.3
38.6
44.4
39.0
34.9
38.3
44.2
39. 1
35 0
38.2
44 4
39.1
35.2
38.3
44.4
39. 1
35. 5
38.3
44. 5
38.9
34.7
38.1
44.3
39. 3
35.3
38.8
44. 4
39.8
36.2
39. 6
44.4
39.7
36. 0
39.3
44.3
39
35
38
44
38.9
' 34. 9
'38.0
' 44.2
38.8
34.8
38.1
44.3
41.9
40.6
39.9
41.8
39.7
38.2
42.0
39 8
38.6
41.9
39.6
39.2
41.7
40.4
42.0
41.8
40.3
40.1
41.9
40.5
41.0
41.7
40.0
38.8
41.8
39.4
38.2
41 9
40 1
39 7
' 41.7
40 5
r
40. 1
42.1
40.0
39.6
2
2
7
2
.
Industrial disputes (strikes and lock-outs):
Beginning in month:
375
350
125
350
350
225
300
225
250
145
Work stoppages-..
.number
300
200
350
230
180
30
140
180
100
70
130
80
76
50
Workers involved
thousands
170
130
In effect during month:
575
550
500
354
400
275
550
450
375
350
Work stoppages
- . . . __
number
400
500
550
370
280
230
300
75
200
150
150
173
100
Workers involved
thousands
140
280
280
3, 750
2,200
1,750
1,300
3,600
500
1,000
1,880
Man-days idle during month
do
1,200
1,200
750
1,800
2 400
.43
.24
97
. 12
Percent of available working time
. 14
.09
.20
.21
.39
.14
.05
. 13
21
U. S. Employment Service placement activities:
439
470
439
378
39 1
353
393
478
428
333
426
Nonagricultural placements . . _ _ ..--thousands
487
520
Unemployment compensation, State laws (Bureau of
K m ployment Security) :
1, 335
1,272
1,227
1,749
1,442
1, 340
1,616
1, 157
1, 392
1,194
1, 450
1, 123
1, 100
Initial claimst
- ---thousands
1, 862
1, 924
2, 070
2,034
1,509
1, 692
2,181
2,170
2, 175
insured unemployment, weekly average*
do
1,463 «• 1, 666
1,466
1,580
Benefit payments:
1,597
1,818
1, 124
1, 850
1,592
1,864
1, 523
1, 894
1, 953
Beneficiaries, weekly average
do
1,223
1.414
' 1, 365
1,299
200, 837 185, 601 190, 959 167, 980 162, 653 153. 737 135, 299 132,089 153,050
Amount of payments
- ..
.thous. of dol_. 120, 780 158, 418 179, 284 215,650
Vetrrans' unemployment allowances :cf
34
38
29
39
30
38
33
35
36
34
Initial claims
. _ _ _ --thousands
41
28
28
87
82
79
77
64
82
78
45
85
O/
Insured unemployment, weekly average
do
79
68
75
65
97
97
94
69
89
47
101
100
103
Beneficiaries, weekly average _ . _
do. 87
92
75
73
9,894
9,755
10, 238
8, 975
6,599
5,043
10, 153
8,085
1 0, 840
Amount of payments
thous. of dol..
9,444
9,381
7, 520
7,377
Labor turnover in manufacturing establishments:
2.9
3.5
2.4
2. 7
2. 1
3.3
2.8
2.5
2.8
Accession rate
monthly rate per 100 employees..
3.4
P2.7
3.6
3.3
r3 Q
3.1
4.0
v3 o
3.1
3.3
3.7
4.3
3.5
3.8
3.5
Separation rate, total
do
39
33
2
2
o
.2
.2
.2
.2
.2
.2
.2
2
2
Discharge. _ _ _ _
_.
do
t> i 7
1.6
2 8
1.7
2.4
2.3
2.2
1.9
2.5
1.7
Lav-off
do
1 7
16
16
1.1
1.1
1.0
1. 1
1.1
1.0
1. 1
p 9
1.0
1.4
18
12
Quit
- do
10
2
r
.2
.2
v .2
.2
.2
.2
.2
.3
Military and miscellaneous
do
.3
.3
.2
.l
T
Revised.
* Preliminary.
9 See corresponding note on p. S-ll.
i Revised to include only privately operated lines; data shown in the March 1954 SURVEY and earlier issues cover both privately operated and government-operated lines.
t Re
vised series. Beginning with the February 1954 SURVEY, data have been revised to exclude transitional claims and, therefore, more closely represent instances of new unemployment.
*N T ew series. Compiled by the U. 8. Department of Labor, Bureau of Employment Security. Data for insured unemployment for continental U. S. (excluding Alaska) have been"substitutt-d for the series on number of continued claims filed. The insured unemployment series is derived by adjusting the number of weeks of unemployment for the lag between the week of
unemployment and the time the claim is filed, so that the adjusted series refers to the week in which unemployment actually occurred. The monthly figures are averages of weekly data adjusted for split weeks in the month on the basis of a 5-day week. Weekly averages for 1952 appear in the February 1954 SURVEY.
o"Beginning with the February 1954 SURVEY, data for veterans' unemployment allowances cover only unemployment compensation benefits under the Veterans Readjustment Assistance
Act of 1952. The figures for initial claims exclude transitional claims; the insured unemployment figures exclude claims from veterans which were filed to supplement benefits under State or
railroad unemployment-insurance programs to eliminate duplicate counts in the State data shown above; the number of beneficiaries and the amount of payments include all veterans whether
or not the payments supplement benefits under either State or railroad insurance programs.
SUKVEY OF CUEEENT BUSINESS
S-14
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
December
February 10H5
1955
1954
January
February
March
April
May
June
July
August
Septem- October |No 7 - Decemb r
ber
ber
January
EMPLOYMENT AND POPULATION—Continued
WAGES
Average weekly gross earnings (U. S. Department of
Labor) : 9
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 glassware, pressed o r b l o w n _ _ _ d o
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, and trans, equip.)
dollars _ Heating apparatus (except electrical) and
plumbers' supplies
__ ___ dollars Machinery (except electrical)
do
Electrical machinery . .
do
72. 36
77 52
78.94
70.92
76.59
77.60
71.28
76.38
78.40
70.71
76.00
79.19
70.20
75. 43
78.21
71.13
76.21
78.80
71. 68
76.40
79.40
70.92
75. 83
79.80
71.06
76. 59
80.20
71.86
77.39
80.60
72.22
77.97
81.41
64.32
64. 64
03 90
71.23
69. 34
82.78
62. 65
62.72
61. 78
69.48
68. 64
81.74
63. 76
63.92
62. 16
70.70
70.09
79.52
64.40
64.96
62. 56
70. 30 1
70.49
78.28
65.93
65.77
61.00
70.18
68.94
77.90
67.03
67.23
60. 53]
71. 101
69. 81 1
79.49
68. 71
68. 80
62.17
70. 701
69. 45
80.70
63. 24
64. 64 i
62. 02
71.331
69. 50
80.81
65. 57
67. 10
63. 74
72.04
70.77
80.64
67.47
70.06
64.46
72.85
71.53
82.39
' 70. 14
' 70. 81
65. 10
73. 34
' 72. 25
- 82. 64
69.31
' 66. 67 r- (>4. 88
69. 72
M13.S3
64.78 ""ti~57
r
73.98
73. 80 * 72. 72
71.74
r
84. 10 ~ ~86.03 VST. 08
85.46
84.80
81.27
79.12
79.39
81.22
83. 22
84.00
82.43
84.90
-84. 4s!
86. 40
82.54
83.40
79.98
78.20
78.41
78.40
79.39
79.60
79. 60 j
79.39
r 80. 40
81.00
78.02
76.92
76.33
75. 95
75.39
77.33
76.92
75. 60
76.95
77.74
' 78. 53
79.52
73.63
84. 42
72.36
71.80
82.40
70.74
73.10
82.60
72.22
73.10
82.20
71.28
70.66
81.00
70.56
73.28
81.61
71.50
74. 59 ;
81. 41i
72.07
72.34
SO. 60
71.53
75.14
80. 80
72.04
75.20
81.81
72.98
76.92
81.61
73.93
85. 88
87.42
85.27
82.37
82.76
75.17
65.53
85.86
89.79
83.23
78.66
82.32
72.22
63.43
84.82
85.72
85.28
81.12
82.95
73.12
64.16
84.21
84. 93
84. 46
81.95
81.93
72.76
64.00
84.82
87.26
83.43
80.70
80.08
72.07
62.72
85. 67
88.34
83.84
80.94
80. 85
72.07
63.43
84. 59
85. 28
84. 86
80. 55
81. 45
72.83
63.36
84.38
85. 06
84.66
80. 11
80.60
72.29
62.79
85. 63
88. 00
85.27
81. 12
81.79
72.29
63.84
86.00
89. 15
85.68
78. 83
78.02
73.82
64. 40
T
r
65. 21
90.69
94.98
87.77
80.88
87.20
74. 56
65.04
64.45
68.15
76. 54
68.73
53.44
66.42
75.39
63. 53
68.71
76.78
69.39
55. 04
66.10
75.06
64.02
67.64
73.05
69.71
54.38
66.42
76.80
64.02
67.87
73. 05
69.12
53. 95
66.50
77.79
62.87
67.54
72.68
68.85
52. 85
67.08
78.57
63.91
68.54
74.74
69. 01
54. 72
67.65
78.18
64. 57
69. 55
75. 85
71. 36
53. 27
68. 31
80. 56
64.74
69.72
77.98
71.81
54. 77
68.64
82.17
64. 68
67. 57
76.07
69. 55
55. 89
68.14
78.76
65.24
68.48
77. 87
71.07
56. 30
68. 88
79.17
65. 07
68. 30
78.02
? 70. 47
' 52. 99
' 68. 38
' 78. 78
65. 97
70. 79
83.42
68. 59
52. 68
68. 14
79.00
Tobacco manufactures
do
Textile-mill products
_
do
Broad -woven fabric mills
do
Knittingmills _
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
49.13
52.61
51.34
48.60
45.97
50.86
49.13
47.65
46.31
52.06
50.03
48.84
47.52
51.68
50.16
48.71
49.01
50.46
48.73
46.99
49.98
51. 10
48.97
47.65
51. 71
51.41
49.63
48.34
51. 54
51.41
49.52
47.58
49. 67
52. 36
.50. 69
48.88
48.86
52. 50
51.08
49.13
r 49. 72
53. 31
52. 14
r
50. 17
47.60
54. 66
53.33
50. 95
48.82
58.19
47.68
55.84
49.46
57.96
49.59
57.32
45.62
52.64
46.07
52.97
46. 55
55.08
47.17
56.80
48.87
57.05
48.82
57.35
r
47.84
53. 63
48.37
54.92
40.70
53.61
73.62
80.08
39.56
52.44
72.07
78.55
41.29
54.62
72.07
78.37
41.15
54.93
72.83
78.99
39.10
49.01
71. 55
77.47
39.67
49.76
72.83
78.19
40.00
48.53
74.20
79.79
39.76
50.81
74.62
81.47
41.70
53.15
74.98
81.10
41.84
52. 17
75. 23
81. 97
41 . 58
' 50. 40
' 76. 01
41.72
nl.65
75. 76
81.91
88.43
96.87
86.67
77.61
81.81
86.02
90.07
85.79
76.86
81.41
85.95
90.42
84.50
76.86
81.20
86.85
90.68
85.57
76.86
81.20
86.11
92.26
84. 50
77.27
82.62
86.71
93.86
84.46
77.71
82.62
86.94
93.50
85.02
79.10
84.05
86.94
92.01
85.72
79.35
84.24
87.40
91.85
85.10
78.94
83.43
88.39
94.68
85.89
79.52
85.07
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 industriesMining:
Metal
do
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural -gas production:
Petroleum and natural-gas production
dollarSNonmetallic mining and quarrying
do._Con tract construction
do
Nonbuilding construction
do
Building construction.
do
Transportation and public utilities:
Local railways and bus linesj
do
Telephone
do
Telegraph
do
Gas and electric utilities
_
do
Wholesale and retail 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, insurance, and real estate:
Banks and trust companies
-- -do__
Service and miscellaneous:
Hotels year-round
do
Laundries
- __do
91.98
96.05
75.66
82.43
52.03
49.10
91.53
95.58
75.08
82.88
51.89
49.37
90.68
94.47
75.47
83.03
52.44
50.41
90.45
94.47
74.31
80.89
52.40
49.98
91.08
94.8
75.0
84.1
49.13
46.4
93.52
97.17
77.81 I
88.65
49.21
45.89
93. 98
97. 17
79. 60
92.06
51.01
47.75
94.53
97. 51
76.83
87.01
51.38
48.73
93.07
96.05
76.25
85.65
51.24
48.71
92.40
64.7
82.25
92.00
70.93
82.34
85.49
74.84
79.04
82.62
63.74
73. 06
81.1
64.4
71.6
82.00
62.74
76.32
83.84
96.20
83.00
83.63
73.58
75.39
90.4
76.1
92.3
89.93
93.2
92.8
70.9
87. 1
83.8
87.4
91.08
73.78
92.85
91.14
93.24
90.45
74.22
93 2'
90! 12
94.28
90.4
75.0
92.8
89.6
94.1
94.58
77.88
94.50
93.79
94.69
90.63
78.58
95.63
96.14 !
95.72 j
77.4
65.8
73.1
82.3
78.5
65.7
72.8
81.7
77.25
65.74
73.69
80.97
77.33
65.70
73.75
80.77
77.5
66.0
75.7
80.7
77.94
67. 3£
75. 7£
81. 5S
73.1
Transportation equipment
do
Automobiles
_ _ _. __do
Aircraft and parts
do
Ship and boat building and repairs _ _ do
Railroad equipment
.do
Instruments and related products
do
Miscellaneousmfg industries
do
Nondurable-goods industries
Food and kindred products
Meat products
Dairy products
Canning and preserving
Bakery products
Beverages
Clean in e an d d vein s nlants
r
do
do
do
do
do
do
do
_
do
' 74. 19
r
r
r 82. 16
r
' 80. 90 p 8(1 93
75.79
81.81 """'•" 83.' 44 " VS2.'S2
r
74.48
74. 52 p 75. 33
r
93. OS
p 92. 00
~rr 7~>. 33 "V74."96
Cn. 93 p 65. 53
'%%
p 65. 86
p 70. 07
^ 49. 60
55. 07
f 48. 60
p 54. 12
r
49. 14
v 48. 47
";7S-m
" P75.65
r
87. 94
rr 94. 32
86. 29
r 78. 69
r 83. 64
88.17
93.70
86.72
79.71
84. 46
95.58
97.85
77.81
86.18
49.%
46.68
* 92. 57
'r 95. 75
81.20
r 90. 39
^ 49. 62
f 45. 62
93.43
' 92. 3 p 91.94
96. 87
83. 22 |"VS5;6
T 85. 49
95. 47
50. 92 '"'"52.5 ' ~P 52. 30
47.21
83.85
82.50
82.09
84.03
56.88
81.17
r 83. 62
' 86. 27
I
' 87. 54
84.24
85. 2(
87. 71 j
92.57
80.46
95. 63
97. 29
95. 20
93.98
79.83
95.38
97.44
96.20
93.02
79.57
93.84
92.97
94.32
' 90. 85
r 79. 92
' 95. 74
*T 94. 131
96. 26
94. 9£S)
95. 15>]
94. 5^»
79.10
67.34
77.15
82.40
78.51
68.60
77.15 !
83.83
78. 2C
67.6?
77. 33
83.42
78.14
71.60
77. 93
85.49
' 78. 32
r 72. 04
78.31
' 86. 94
77. 5()
72.6,
76. 7*J
85. 0**!
73.93
73.93
74.34
74.34
74.74
' 74. 92
74.9 j|
58.51
42.35
62.57
76. 37
58. 3C
41. 7€
62. QC
75. 7£
57.62
40.83
61.53
74.70
57. IS
T
40. 48
'r 60. 8C
75. 14
56.6 5|
41.0
61.3 1
74.4 21
r
91. 3C
78. r
73.2
72.7
72.36
72.76
54.4
39.9
59.8
72.3
55.7
40.1
59.7
71.6
55.91
39.90
59.59
72.82
55.91
40.13
59. 7£
73.26
55.9
39.7
59.7
74.7
56.41
39.91
59.82
75. 7t
57.38
41.30
60.92
76.37
55.6
56.5
56.79
56.47
56.7
57.lt
57.09
57.66
57. 7£
57.71
' 58. M
57.8 B 1
39.8
40.60
46. 6S
39.7
39.7
45.0
39.90
39.80
45.55
39.81
39.60
46.26
39.6
40.8
50.4
40.13
40. 3C
47.32
39.81
40.50
49.20 1
40.03
40.00
45. 78
40. 1C
39. 4f
45. 4f
40.64
40. 5C
47.24
r 40. 8*
41.2 0
40. 0 0:
46. 7 j , _ _
Revised.
*> Preliminary.
9 See corresponding note on p. S-ll.
JRe vised series. See note marked "J" at bottom of p. S-13.
87. 26
90. 54
r 85. 47
80.85
' 82. 51
' 74. 30 P 73. 97
80. 15 P SO. 16
' 82. 21 p 80. 79
73.57
79. 15
82.01
40. 5t)
r 47. r.>
89. 70
p 87. 63
P 79. 93
SURVEY OF CTJRKENT BUSINESS
February 1955
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
1953
December
S-15
1954
January
February
March
April
May
Juno
1955
July
August
Septem- October Novem- December
ber
ber
January
EMPLOYMENT AND POPULATION—Continued
WAGES— Continued
Average hourly gross earnings (U. S. Department of
of Labor) : 9
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 glassware, pressed or blown
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
\utomobiles
Aircraft and parts
Ship and boat building and repairs
Railroad equipment
Instruments and related products
Miscellaneous mfg. industries
Nondurable-goods industries
Food and kindred products
Meat products
Dairy products
Canning and preserving
Bakery products
Beverages
__
1.80
1.90
1.93
1.80
1 91
1.94
1.80
1 90
1 96
1.79
1 90
1 97
1.80
1 90
1 97
1 81
1 91
1.97
1.81
1 91
1.98
1.80
1 91
1 99
1.79
1 91
2 00
1 81
1 93
2 01
1 81
1 93
2 01
1 83
1 94
2 01
1.60
1.60
1.57
1.75
1.76
2.08
1.59
1.60
1.56
1.75
1.76
2.08
1.59
1.59
1.55
1.75
1.77
2.06
1.61
1.60
1.56
1.74
1.78
2.06
1.64
1.62
1.56
1.75
1.80
2.05
1.68
1.66
1 56
1.76
1 79
2.07
1.68
1.67
1.57
1.75
1. 79
2.08
1.55
1.55
1.57
1.77
1.81
2.11
1.58
1.59
1.57
1.77
1.81
2.10
1.67
1.68
1 58
1.79
1 82
2.14
'1.69
' 1.69
1 58
1.78
T
1 82
'2.13
1.67
1.66
1 58
1.80
1.83
2.14
2.18
2 18
2 15
2 15
2 14
2 16
2 19
2.24
2 21
2.27
'2.24
2.25
1.97
2.00
1 97
1.96
1.97
1 96
1.97
2.00
1.98
2.02
2.01
2.01
1.88
1.89
1.88
1.88
1.88
1.90
1.89
1.89
1.90
1.91
1.92
1.85
2.01
1.80
1.86
2.00
1.80
1.86
2.00
1.81
1.86
2.00
1.80
1.84
2.00
1.80
1.86
2.01
1.81
1.86
2.01
1.82
1.85
2.01
1.82
1.86
2.01
1.81
1.88
2.03
1.82
1.89
2.03
1.83
do
do
do
do
do
do
do
2.11
2 18
2 04
2 08
2 09
1 82
1.61
2 12
2 19
2 05
2. 07
2 10
1 81
1.61
2 11
2 17
2 07
2 08
2 10
1 81
1.60
2 10
2 15
2 06
2 08
2 09
1 81
1.60
2 11
2 16
2 06
2 08
2 08
1 82
1.60
2 11
2 16
2 06
2 07
2 10
1 82
1.61
2 12
2 17
2 08
2 06
2 11
1 83
1.60
2 12
2 17
2 08
2 07
2 11
1 83
1.61
2.13
2 20
2 09
2 08
2 13
1 83
1.60
2.15
2.24
2.10
2.08
2.12
1.85
1.61
' 2 16
'2.23
'2.10
2. 10
' 2. 16
1.85
1.61
do
do
do
do
do
do
do
1.64
1.65
1 84
1 58
1.41
1 62
1.88
1.65
68
85
61
46
62
91
1.65
1 67
1 84
1 61
1 45
1 62
1 92
1.65
1 68
1 84
1 60
1 47
1 63
1 94
1 65
1 68
1 84
1 59
1 46
1 64
1 94
1 66
1 68
1 85
1 59
1 44
1 65
1 94
1.66
1 68
1 85
1 60
1 38
1 65
1 96
1.66
1 68
1 87
1 61
1 39
1 67
1 98
1.65
1 64
1 86
1 61
1 38
1 67
1 94
1.66
1.65
1.89
1.63
1.38
1.68
1.95
1.25
1.37
1.33
1 31
.27
.36
1.31
1 32
1 29
1.37
1 32
1 32
1 32
1.36
1 32
1 32
1 35
1 36
1 31
1 32
1 34
37
32
32
1 35
1.36
1 32
1 31
1 36
1.36
1 31
1 30
1 29
1.36
1 32
1 30
1.36
1.59
1.37
1.60
1.37
1 61
1.37
1 61
1.33
1 60
.32
61
1.33
1 62
1.34
1 60
1.14
1.51
1.72
1.82
2.25
2.59
2.14
1.87
2.01
1.15
1 52
1.72
1.81
2.24
2.53
2.15
1.87
2.01
1.15
1 53
1 72
1.81
2.25
2 54
2.15
1 87
2.01
1.14
1 53
1.73
1.82
2.25
2.54
2.15
1 87
2.02
1 13
1 45
1 72
1.81
2.26
2 57
2.15
1 88
2.05
1 14
1 43
1 73
1.81
2.27
2 60
2.16
1 90
2.04
1.13
1 44
1.75
1.83
2.27
2 59
2.18
1 92
2.05
2. 261
2.36
1.93
2.21
1.38
1.32
2.26
2.36
1.94
2.21
1.38
1.32
2 25
2.35
1 94
2.22
1.38
1.33
2.25
2.35
1.93
2.21
1.39
1.34
2.26
2.36
1 94
2.22
1 38
1.33
2.27
2.37
1.96
2.25
1.39
1.33
2.10
2.47
2.47
2.11
2.48
2.48
2.05
2 52
2.47
2.04
2.49
2.46
2.04
2.46
2.48
2.25
1.73
2.51
2.30
2.57
2.28
1.73
2.54
2.33
2.58
2.26
1.72
2.53
2.29
2.59
2.25
1.73
2.52
2.27
2.59
1.74
1.71
1.78
1.98
1.77
1.72
1.78
1.98
1.78
1.73
1 78
1.97
1.79
1.72
1.79
1.97
1.80
1.81
1.80
1.39
1.10
1.55
1.63
1.43
1.15
1.56
1.62
1.43
1.14
1 56
1.64
.95
1.00
1.17
.95
1.00
1.18
1. 933
3. 086
1.908
Tobacco manufactures _
do
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-do
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 prod^
dollars
Nonmetallic mining and quarrying
do
Contract construction. .
_
__
do
Nonbuilding construction _
do
Building construction. _ _ _ _
.do _.
Transportation and public utilities:
Local railways and bus linesj
do
Telephone
_
. d o
Telegraph
do
Gas and electric utilities ...
do
Wholesale and retail 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 and miscellaneous:
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
' Revised.
p Preliminary,
skilled labor, $3.188.
v 1 84
P 1 96
P 2 03
' 1. 63
pl.61
1 58
' 1. 80
•p 1 58
pl.80
'2.14
v 2. 15
1.93
'1.94
v 1.95
1.89
2.03
1.83
2.04
' 1. 84
r> 2. 04
T 1.86
2.18
2.24
2.12
2.09
2.18
1.85
1.61
2.19
p 2. 18
1.86
1.62
p I. 86
p 1. 63
1.66
1.67
1.88
r
1.62
' 1.38
1 68
' 1. 95
1.67
1.71
1.94
1.61
1.42
1.67
1.98
1.67
1.71
"1.68
pl.73
1.24
1.36
1.32
1.31
'1.24
1.36
1.32
'1.31
1.29
1.37
1.32
1.32
' 1.30
1.37
pl.31
p 1. 37
1.35
1 63
1.36
1.62
1.34
' 1.63
1.34
1.62
'1.35
p 1. 35
1 12
1 49
1 76
1.86
2.27
2 57
2 17
1 94
2 08
1.13
1 51
1.76
1.86
2.27
2 58
2.16
1 93
2.06
1.14
1.53
1.77
1.88
2.29
2.63
2.18
1.93
2.08
' 1.13
' 1 . 50
* 1.78
'1.88
2.29
'2.62
r
2 19
1.91
2.06
1.14
1.48
1.77
1.87
2.29
2.61
2.19
1.93
2.07
' 1.78
p 1.78
2.30
P2.30
' 1.93
•p 1.94
2 27
2.37
1 98
2.29
1 39
1.33
2 30
2 39
1 95
2 26
1 37
1.31
2 27
2.36
1 95
2.29
1 37
1.32
2.32
2.41
1.98
2.25
1.38
1.33
2.28
2.37
'2.01
'2.30
1.39
1.33
2 29
2.38
2.02
2.34
1.38
1.32
2 28
p 2. 27
2.05
2.47
2.47
2.06
2 65
2.50
2 07
2 52
2 48
2.05
2 50
2.48
2.08
2.41
2.49
'2.08
2.53
2.48
2.08
2.58
2.48
2.25
1.73
2.51
2.28
2.58
2.29
1.75
2.52
2.31
2.58
2.26
1.75
2.51
2.30
2.58
2.28
1 78
2. 51
2 30
2.58
2.27
1.77
2.51
2 32
2.60
2.28
1.78
2.55
2.33
2.62
r
2.26
1.78
2. 56
2.33
'2.63
2.26
1.77
2.56
2.32
2.62
1.80
1.73
1 80
1.97
1.80
1.75
1 80
1.99
1.81
1.74
1 85
2.00
1.83
1 75
1 85
2.02
1.82
1.74
1 85
2.02
1.83
1.79
1.86
2.05
' 1.83
' 1.81
1 86
'2.07
1.83
1.83
1.85
2.06
1.81
1.82
1.83
1.83
1 84
1.84
1.85
1 85
1.85
1.43
1.14
1 56
1.65
1.43
1.12
1.56
1.68
1.45
1.15
1 57
1.71
1.46
1. 17
1 57
1.72
1.47
1 17
1 58
1 72
1.47
1.16
1 58
1.71
1.47
1.16
1.59
1.69
1.47
1 16
1 60
1 70
1.46
1.18
1.61
1.68
.95
.1.00
1.18
.95
1.00
1.18
.95
1.01
1.20
.96
1.00
1.18
.95
1 00
1.20
.96
1 00
1.18
.96
1 00
1.19
.97
1.01
1.19
' 98
1 00
1 19
.98
1.00
1.18
1.944
3.095
1.944
3.095
1.944
3.100
1.947
3.100
1.964
3.112
1.979
3. 133
1.997
3 147
2.009
3.148
2.016
3 169
2.019
3 180
2.022
3 184
.90
1.943
1.61
1.961
1.902
.84
1.913
1.46
1.939
1.916
.87
1.932
1.51
1.919
1.937
75
1 944
1.58
1 942
9 See corresponding note on p. S-ll.
1 83
1 q,5
r 2 02
t Revised series.
See note marked "J" at bottom of p. S-13.
' 2 05 p 2.06
' 1 39 p 1. 38
2.022
3 186
2.022
3 188
88
§ Rates as of Feb. 1, 1955: Common labor, $2.022
SURVF.Y OF CURRENT BUSINESS
S-16
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Survey
ber
February
1954
J
ary~
F
arvU"
March
April
May
June
1<)55
July
August
^H0010^!^111" Dberm"
!
1
January
FINANCE
BANKING
Acceptances and commercial paper outstanding:
Bankers' acceptances
mil, o f d o l .
Commercial paper ©
do
Agricultural loans and discounts outstanding of agencies supervised by tlie Farm Credit Adm.:
Total
mil of del
Farm mortcra°'e loans total
do
Federal land banks
do
Land Bank Commissioner
do
Loans to cooperatives
do
Other loans and discounts
do
Bank debits, total (345 centers) t
New York Citv
.
6 other centerscf
.
do
.do.- do
Federal Reserve banks, condition, end of month:
A ssets, total
mil, of dol. .
Reserve bank credit outstanding, total
do
Discounts and advances
do
^ United States Government securities
do
(Jold certificate reserves
do
574
586
635
545
716
580
735
2,189
1,197
1,180
17
373
620
360
619
356
647
2,271
1 228
1 212
16
350
693
168, 596
65, 367
35, 557
154,281
62, 306
30, 806
141. 926
56,115
29, 341
52,315
26, 880
50, 509
25, 437
156
24, 639
21,274
50, 692
25, 688
350
24, 509
21, 270
28
25, 91C
21, 354
623
694
616
641
589
679
589
747
563
794
2, 368
1 °57
I 242
15
304
808
609
803
325
814
14
339
767
103, 508
64, 965
33, 785
154,849
151, 503
58, 316
31, 526
21, 293
21,239
49, 746
25, 183
184
24, 325
21, 220
49,174
24,812
50, 759
25, 642
37
25, 037
312
772
171,354
67, 913
36. 666
1 54, 759
60, 479
149,812
33.152
59, 535
31, 159
50, 704
25, 316
147
24, 632
21, 278
50, 089
25, 382
17?
50, 494
25, 781
245
24,632
21, 283
61. 155
31, 556
24 696
200
24, 023
21,117
.«
873
733
2, 305
1 293
1, 281
13
364
648
369
703
377
658
149, 899
56, 744
30, 922
152,321
156, 843
58, 787
32, 230
186. 317
49, 778
25, 183
132
24, 271
21, 129
50, 035
50, 863
25, 944
398
24, 888
21, 030
50, 872
25, 885
143
24, 932
58, 792
30, 706
25.401
297
24, 381
21,079
52,315
49, 746
50, 509
50, 494
50, 704
49, 174
50, 759
50, 089
50, 692
49, 778
Liabilities, total
do
50, 035
21,422
20, 454
21,143
20. 773
20, 688
20, 808
20, 898
20, 934
19, 805
20, 264
Deposits, total
_ __ ..
do. 20, 373
19,011
20, 160
18,316
19,412
19, 384
IS, 702
19, 563
19, 194 , 19, 528
18, 676
18, 722
Member-bank reserve balances
do
505
763
939
672
599
684
368
744
952
591
Excess reserves (estimated)
do
471
25, 567
25, 885
26, 558
25, 472
25, 544
25, 566
25, 601
25, 588
25, 487
25, 757
25. 706
Federal Reserve notes in circulation
do ._
44.5
45.9
46. 5
45. 7
46.4
46.1
45.8
45.6
45.7
46. 0
45.6
Reserve ratio
. percent
Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month:!
Deposits:
54, 949
53.319
54, 108
53, 930
51, 812
55, 588
54, 066
53,913
55, 472
55, 043
Demand, adjusted
mil. of dol . . 56,217
Demand, except interbank:
Individuals, partnerships, and corporations
55, 360
54, 71 5
54, 746
54, 597
52, 824
54, 791
55, 831
54, 488
55, 884
57, 256
mil. of dol. . 57,817
3, 963
4, 232
4, 033
4,329
4,093
4, 308
4,418
3, 939
3, 756
3, 908
3, 865
States and political subdivisions
do
2,594
2,982
2,275
2,091
4, 085
2, 671
3,838
2,424
2, 605
3, 793
3, 247
United States Government. ___ _ . _-do_
18,718
19, 808
19,124
19,050
19, 637
19, 359
18, 779 1 18,917
19 915
20 122
19 887
Time except interbank total
^o
Individuals, partnerships, and corporations
17,619
18, 337
18, 304
18,041
17, 771 1
17, 596
17, 854
17,734
18, 433
18,699
18, 520
mil. o f d o L .
932
1,285
1,129
970
1,146
1,087
1,078
994
1,195
1,220
1, 257
States and political subdivisions
do
13,870
13,
860
13, 406
12.794
13,040
13,017
12,948
13, 772
12,983
13, 791
Interbank (demand and time) _ . _ _ _
do
14, 301
40, 282
42, 492
41,945
40, 177
41,300
40, 697
38, 738
40, 133
44, 194
44, 237
46, 088
Inv?stments, total
do
U. S. Government obligations, direct and guaran32, 989
32, 800
32, 160
34, 221
33, 724
30. 850
32, 292
35, 862
33, 196
37, 358
35, 696
teed, total
mil of dol
2, 076
2,569
3, 045
2, 619
2, 987
2,084
2.517
3,135
2,428
2, 868
2, 500
Bills
do
2, 684
2, 737
5,303
2, 754
2,777
3,045
4,097
4,764
2,369
2, 559
2, 504
Certificates
do
21 598 I
21, 502
18, 952
18,517
21, 742
21,654
21,388
21,313
23, 515
23, 654
23, 801
Bonds and guaranteed obligations
do
6,411
8,688
6, 674
4, 530
6, 582
4, 649
6, 756
6, 680
6, 653
6. 670
4,798
Notes
do
7.482
8,017
8. 221
7,888
7,841
7,708
8,271
8,104
8, 498
8,730
8, 375
Other securities
.. .- do
39, 076
40, 374
38. 254
38, 950
38, 324
38, 722
39, 422
38, 441
38, 844
37, 967
38, 495
Loans (adjusted) , totalQ
do
22,
638
23,
380
21,524
21,884
22,
763
22,
407
22,183
21, 599
20, 798
21. 104
21,015
Commercial, industrial, and agricultural . . .do
2, 248
2.379
2, 005
2,180
1.744
2,141
1, 758
1,907
2, 466
2, 403
2,228
To brokers and dealers in securities
do
Other loans for purchasing or carrying securities
826
875
899
847
868
849
915
811
904
941
991
mil. of dol. .
6, 486
6, 671
6, 553
6,592
6, 522
6, 481
6, 718
6, 478
6, 902
6, 997
6,831
Real-estate loans... _ _ _ _ _
do
7, 825
8, 019
7 77°
7,924
7,787
7, 753
7,721
7, 754
Other loans
do
7,949
7, 866
7, 893
Money and interest rates :§
Bank rates on business loans:
3.76
3.72
3. 60
3 56
In 19 cities
percent
3.51
3.34
3. 50
3.29
New York City
do
3 61
3 79
3 74
7 other northern and eastern cities
do
3 57
3 98
4 10
4 03
3 95
11 southern and western cities
do
1.50
1.75
1.75
2.00
2.00
1.50
1.50
1.50
1.50
1. 50
1.50
Discount rate (N Y F R Bank)
do
2.08
2.97
2.08
2.50
2.56
2.97
2.04
2.50
2.00
2.00
2.00
Federal intermediate credit bank loans
do
4.17
4.17
4.17
4.17
4.17
4.17
4.17
Federal land bank loans
do
4.17
4. 17
4.17
4.17
Open market rates, New York City:
1.25
1.25
1.25
1.88
1.48
1.68
1.25
1.88
1.25
1.25
Acceptances, prime, bankers' 90 days
do-.__
1.76
1.58
2.25r
1.56
2.11
2.00
2.00
1.31
1.33
1.45
Commercial paper, prime, 4-6 months
do
1.31
3 2
3.00
3.00
3.25
3.25
3.00
3. 00
3,13
3.00
3.00
3.00
Call loans, renewal (N. Y. S. E.)
do
2.88
2.88
3.01
2.88
3.13
3.13
2.88
3.13
2.88
2.88
2.88
Time loans, 90 days (N. Y. S. E.)
do
Yield on U. S. Govt. securities:
.782
.984
.892
.650
1.053
1.011
1.214
1. 630
1.007
.710
.987
3-month bills
do
1.79
1.78
1.80
1.74
1.84
2.22
2.04
1.69
1.71
1.80
1.85
3-5 vear taxable issues . . .
do _ .
Savings deposits, balance to credit of depositors:
14,914
14, 768
14,651
14, 694
14, 442
14, 341
14, 993
14, 500
15,112
14, 943
15, 150
New York State savings banks
mil. ofdol
2,251
2,272
2,291
2, 310
2,326
2,343
2, 360
2, 230
2,209 v 2, 189 "2,171
U. S. postal savings..—.
._. .do_ ._
CONSUMER CREDIT (Short- and Intermediateterm)
28, 666
29, 537
28, 372
27, 833
28, 095
28, 724
28, 140
28, 725
28, 856
28, 736
Total outstanding, end of month 9 _ .
mil. of dol .
28, 975
21,717
21, 487
21, 426
21, 836
21, 582
22, 187
21, 381
21, 849
21, 935
21, 901
21,952
Installment credit, total 9
do
10, 341
10, 168
10, 002
9,919
9,942
10, 010
10, 158
Automobile paper
do_.
10, 365
10, 298
10, 349
10, 340
5, 367
5, 370
5,443
5,413
5, 588
5,697
5, 294
5,328
Other consumer-goods paper
d o _ _ _ 5,831
5, 324
5, 287
1,614
1,649
1, 635
1,634
1, 623
1,617
1,635
1, 642
1,642
Repair and modernization loans
do
1,637
1,637
4, 547
4, 405
4,366
4, 454
4,346
4, 361
4,641
4, 586
4,481
Personal loans
do
4,616
4 651
By type of holder:
18, 538
18, 192
18, 300
18, 758
18, 325
18. 245
18, 545
18, 671
18, 753
18 726
18, 731
Financial institutions, total
do
8,783
8, 729
8,714
8,722
8,998
8,914
8,755
8,688
8, 763
8,731
Commercial banks
_
._ _
do,_
8,637
5,944
6, 060
5,892
5,974
6, 147
5, 901
6,062
6,294
6,315
6,189
6,256
Sales-finance companies
do
1,124
1,207
1,175
1. 136
1,115
1,157
1,103
1,267
1 250
Credit unions
do
1,228
1 270
2,477
2,489
2,494
2,488
2, 450
2,456
2,465
Other
do
2,466
2,504
2,504
2,491
3,162
3,429
3, 179
3,189
3,291
3,282
3, 181
3,182
Retail outlets, total
do
3, 178
3,170
3,226
1,040
1,037
1, 027
1,031
1,032
1, 065
1, 032
1,032
995
1, 063
1,041
Department stores
do
903
820
821!
829
823
872
849!
830
822
818
821
Furniture stores.
_
. do
366
380
379
375
371J
368
370
Automobile dealers
...
do
i
390
386
389
390
;
!
1.106
Other
do.—
1,049
943
943
963
943
929
942
928
958
998
T
Revised.
» Preliminary.
©Revised to cover 11 dealers.
tRevised series. Bank debits have been revised to include additional centers and to represent debits to demand deposits; data for 1943-53 appear on p. 23 of the
d" Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
I Revised beginning 1952 to expand coverage of the series by making a net addition of 8 banks. Revisions for January-May 1952 will be shown later.
ONet loans less loans to banks.
§ For bond yields see p. S-20.
9 Revisions for 1952 appear on p. 24 of the June 1954 SURVEY. Data beginning 1953 have recently been revised to incorporate
mation; unpublished revisions (for January-September 1953) will be shown later.
768
769
2 381
1 275
1*261
319
822
335
734
687
762
73,817
38, 217
21,033
163, 378
62, 642
33, 531
49, 626
24, 960
475
23, 885
21,038
26. 253
45.1
49, 626
20, 138
18,918
v 554
25, 640
46.0
56, 414
58, 445
57, 639
57, 876
3, 956
4, 223
60,117
58,317
4, 232
2, 320
20 198
50, 863
20, 457
18, 985
518
26, 081
45.2
19,941
18, 555
1,183
14,113
45, 669
37, 106
2, 378
2, 240
23, 936
8, 552
50, 872
20,371
18,876
T
258
3, 939
2, 597
20, 169
18,806
1,154
14, 273
45. 526'
36, 902
2, 543
18, 864
1, 126
13, 651
44, 783
2, 367
2,688
35, 799
2, 065
2,551
23, 102
8,081
8,984
40, 576
22, 054
2, 582
1,037
1,113
7.176
8, 205
1,056
7,279
8,311
8,563
40,114
22,214
7,083
8, 075
2,768
23, 391
8,200
8,624
41, 008
22, 486
1.50
1.96
4.17
3. 55
3.30
8 . 55
3.90
1.50
1.90
4.17
1.25
1.31
3.00
2.88
l.?5
1.31
3.00
2. S8
2. SK
.948
1.90
1.174
1.94
1 . 257
2.11
15, 252
» 2, 1 54
15,475
P 2, 137
15, 55S
29, 209
30. 125
22, 467
10, 396
5, 668
1,616
4,787
22,014
10, 296
5,398
1,631
4,689
18,719
8,586
6,325
1,282
2,526
3, 295
1,098
846
390
961
1.33
1.47
3. 00
18, 935
8, 633
6,421
1,293
2, 588
3, 532
1,201
890
394
1.047
September 1954 SURVEY.
more comprehensive infor-
SURVEY OF CURRENT BUSINESS
February 10H5
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
1953
S-17
1955
18 54
December
January
February
March
April
May
June
August J Seg£m- October Novem- December
ber
July
January
FINANCE—Continued
CONSUMER CREDIT (Short- and Intermediateterm) — Continued
Total outstanding, end of month— Continued
Non installment credit total 9
mil. of dol
Single-payment loans
. do
Charge accounts
do
Service credit
-do
By type of holder:
Financial institutions
.
do.
Retail outlets
do
Service credit
-do
Installment credit extended and repaid: I
Unadjusted:
Extended total
do
Automobile paper
do..
Other consumer -goods paper
do
All other
...do.. .
Repaid total
do
Automobile paper
. .do. .
Other consumer-goods paper
do
All other
__.dOAd justed:
Extended, total
do. ..
\utomobile paper
do
Other consumer-goods paper
do_ _ _
All other
do
Repaid, total
.
do
Automobile paper
.doOther consumer-goods paper .
do
All other
do
6,921
2. 335
'2. 807
1,779
7,023
2,377
2,892
1,754
7, 195
2,407
3,042
1,746
7, 658
2, 420
3, 518
1, 720
2, 807
1, 779
2,377
2,892
1,754
2,407
3, 042
1,746
2, 420
3, 51 S
1,720
2.. 477
1,114
607
756
2, 425
L063
641
721
2,441
1,062
629
750
2,407
1,046
636
725
2, 454
1, 031
687
736
2,437
1, 056
650
731
r
r
2, 554
1,040
r
716
798
2, 492
1,084
r
642
766
3, 046
1, 184
936
920
2, 593
1,084
666
843
2,452
1,059
665
728
2,363
1,006
667
690
2.407
1.034
612
761
2, 479
1,067
678
734
2,472
1,076
608
788
2, 404
1.014
635
755
2,459
1,067
632
760
2, 425
1,039
653
733
r
2,612
r
1,r 109
11,347
10, 644
49
10, 123
834
340
3,148
2,827
45
2,059
790
254
4., 801
3.911
48
3.806
829
119
5.280
4. 951
48
4,277
8S8
117
2,887
2,639
47
1,850
850
140
4,905
4,201
52
3, 791
839
224
4.217
3. 742
47
3, 204
801
165
5, 203
249
352
3,374
1,229
7,308
1,763
376
4,650
519
4,827
213
336
3,061
1,217
6. 731
332
334
3,370
2, 695
5, 019
541
321
3.261
897
4,857
346
349
3,300
863
3,842
368
373
P 3, 316
p -215
6. 288
1, 200
401
P 3, 739
^947
273, 475
271, 280
229, 913
41,367
2, 195
271, 260
268, 910
226, 681
42, 229
2,350
270, 984
268, 681
226, 528
42. 152
2,303
274, 955
272, 693
230, 214
42. 479
274, 810
272, 440
230, 033
42. 407
2, 370
278, 752
276, 400
234, 161
42, 238
2,352
7.350
2. 219
3. 41 1
1.720
6, 888
9
165
3. 002
1,721
6,558
2, 133
2,682
1, 743
6. 452
2.150
2, 564
1,738
6. 669
2,181
2.723
1. 765
6. 885
2.313
2, 786
1, 786
6, 949
2,334
2,819
1,796
6.876
2,303
2, 773
1,800
6, 835
2,312
2. 734
1, 789
2, 219
3 411
1.720
2.165
3,002
1,721
2. 133
2,682
1,743
2,150
2. 564
1, 738
2.181
2, 723
1, 765
2,313
2,786
1,786
2. 334
2,819
1,796
2. 303
2, 773
1,800
2.312
2. 734
2. 696
964
883
849
2 416
1. 027
639
750
1,947
780
538
629
9
298
963
672
663
1, 956
809
510
637
2,210
957
619
634
2, 380
1,020
574
786
2,581
1,111
719
751
2.400
1.038
615
747
2, 355
1. 015
645
695
2,397
1,047
607
743
2, 336
987
650
699
2, 703
1,244
659
800
2,473
1,078
662
733
2, 549
1, 163
622
764
2.417
1,033
661
723
2.414
1.053
637
724
2.323
1.026
620
677
2, 306
907
689
710
2, 368
985
681
702
2,356
958
636
762
2.377
1,041
644
692
2, 293
956
601
736
2,456
1,053
688
715
2, 357
963
644
750
2. 358
1. 025
629
704
2,319
983
603
733
2, 392
1,010
658
724
2,492
1,113
648
731
2,413
1,056
658
699
' 4. 845 r 5, 200
' 4, 588 ' 5, 033
'44
MO
r
3 913 ' 4, 036
'691
r 771
' 196
'352
6, 425
5,444
41
5, 366
859
159
13,013
11.434
44
11,866
954
149
3. 956
2, 751
52
2, 865
860
179
5, 037
3.592
44
3, 946
877
170
r
4,707
372
345
3, 568
423
5, 555
588
340
3,830
797
5, 296
350
383
3,691
872
274, 782
272, 536
231, 466
41, 070
2,246
270, 235
267, 823
226, 821
41,002
2,412
271. 047
268, 855
227, 806
41,049
2, 192
80
80
81
21
58, 106
511
538
58, 159
464
510
58, 189
523
628
58, 129
508
693
r
r
r
r
677
826
2, 500
1,098
r
631
771
2, 702
1, 298
679
785
2. 488
1,083
64?.
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures: §
Receipts, total
Receipts, net
Customs
Income and emplovment taxes
Miscellaneous internal revenue
\11 other receipts
Expenditures total
Interest on public debt
Veterans' services and benefits
National securitv
All other expenditures
mil. of dol. .
do
_do__
do
do
do
do
. - do_
do
do
do
Public debt and guaranteed obligations:
Gross debt (direct) f end of month, total
do
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:
\mount outstanding, end of month
do
Sales series E through K
. 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 homeowners _ _ _
_.do
Foreign loans
do
All other
do
Commodities, supplies, and materials
do._.
IT S Government securities
- do
Other securities and investments
do
Land, structures, and equipment
. do .
All other assets..
do.-_
Liabilities, except interagencv, total
do
Bonds, notes, and debentures ._
do
Other liabilities
_ do
Privately owned interest. ._.
- - - - do
U. S. Government interest
. .do
LIFE INSURANCE
Assets, admitted:
All companies (Institute of Life Insurance) , estimated
total
mil. of do!
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_-_
R ailroad
do
Other..
_ _
do
r
6 437
5 218
1.294
245
376
343
' 4.
228
'
3,
648
r
539
981
275, 168
272. 881
231, 684
41, 197
2,287
274, 849
272, 632
231, 623
41, 009
2,216
76
75
77
77
57,934
423
514
57,918
561
704
57, 960
515
560
58, 050
602
598
38, 937
19,883
6, 810
2, 930
8. 043
2 303
2.514
2, (502
3, 425
8. 062
2, 451
39,313
19 877
7 370
2, 858
7, 987
1,842
2, 696
2 969
3, 425
8 035
2,312
39, 602
18, 489
6 389
2 814
7, 965
1 576
3 369
2 911
3 439
8 077
3,317
5 075
1, 257
3 818
434
33, 429
5 944
1 . 025
4 920
470
32, 899
5 085
1,052
4 033
486
34 030
5S, 200
546
562
278, 439
275, 696
233, 427
42, 268
2, 743
29
34
34
34
24
38, 207
464
544
58, 242
456
507
58, 299
466
510
58, 358
557
633
58, 456
742
772
|
78. 201
69, 992
78. 866
70, 544
79, 251
70, 884
79. 649
71, 238
80.114
71,645
80, 547
71,997
80, 981
72, 361
81, 510
72, 737
81,965
73, 086
82, 362
73. 455
82, 850
73, 852
83, 338
74, 229
68. 587
42, 317
10.435
8, 427
12,295
3.484
16, 102
68. 989
42, 607
10, 509
8,407
12, 325
3, 505
16, 267
69, 337
42, 801
10, 541
8,414
12, 447
3,507
16, 307
69, 652
42, 942
10,461
8,306
12, 548
3,499
16, 433
70, 024
43, 087
10, 464
8,287
12, 621
3,520
16, 482
73,364
43,233
10,475
8,194
12,655
3,525
16, 578
70, 716
43, 362
10, 316
8,011
12, 766
3,574
16, 705
71, 160
43, 509
10, 230
7,861
12, 820
3,573
16, 886
71. 529
43, 598
10,197
7.839
12, 857
3, 552
16,992
71.930
43. 713
10. 088
7, 757
12, 953
3, 542
17,129
72, 341
43, 870
9,993
7,692
13, 002
3,587
17, 287
72, 754
43, 919
9, 969
7, 616
12, 989
3,587
17, 373
823
20, 961
1,786
19, 175
2,569
1,942
2. 175
854
21,219
1,794
19, 425
2,579
1,960
2.223
Cash ...
do
790
889
911
793
799
818
807
842
826
815
Mortgage loans, total _.
.
. do
19, 321
19, 410
19, 689
19, 525
19. 885
20, 028
20, 197
20, 366
20. 767
20, 555
Farm _
do
1, 666
1,685
1,697
1,674
1,744
1.714
1.728
1,759
1,779
1,770
Other. ._
do
17,655
17, 840
17,992
17, 736
18, 171
18, 300
18, 453
18, 607
18. 988
18, 785
Policy loans and premium notes
- .__ - do.__
2, 436
2,480
2, 460
2,494
2,447
2,507
2,523
2, 536
2, 560
2. 549
Real-estate holdings
do
1,740
1,792
1,769
1,778
1,854
1,801
1,812
1,838
1.914
1. 879
Other admitted assets
do
1,862
1,980
1,959
1. 959
1,868
1,966
1,989
2, 161
2,053
2. 122
r
Revised.
P Preliminary.
9 See note " 9 " on page S-16.
t For a description of these new data and for figures prior to January 1953, see the January and March 1954 issues of the FEDERAL RESERVE BULLETIN.
§ Data are on a budgetary basis.
278, 853 278, 750
276, 51 1 275, 731
234, 160 233, 165
42, 351
42, 566
2, 342
3,019
SURVEY OF CUEEENT BUSINESS
S-18
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Survey
ber
February 1955
1955
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
January
FINANCE—Continued
LIFE INSURANCE— Continued
Life Insurance Agency Management Association :
Insurance written (new paid-for insurance) :
Value, estimated totalf
mil. of dol._
Group and wholesale J
do
Industrial J
do. __
Ordinary total cf
do
New England
- do
Middle Atlantic
do
East North Central
do
West North Central
do
South Atlantic
- do_ .
East South Central
do
West South Central
do
Mountain _ _ _ _ _
do_
Pacific
- do. __
Institute of Life Insurance:
Payments to policyholders and beneficiaries, estimated total
thous. of dol
Death benefits
- do
Matured endowments
do
Disability payments
do
Annuity payments
do
Surrender values
___.
do
Policy dividends
do
Life Insurance Association of America :t
Premium income (39 cos ) total
- do
Accident and health
do
Annuities
-do
Group
do
Industrial
do
Ordinary
do
3,735
1,050
485
2,200
144
490
467
189
263
88
197
86
260
2,584
428
444
1,712
122
418
375
143
180
72
153
59
191
2,779
418
551
1,810
124
439
402
151
195
75
168
60
197
3,424
492
602
2 330
155
538
505
201
261
96
216
84
274
3,183
467
572
2 144
137
515
452
177
250
90
201
75
247
3,286
602
607
2 077
141
480
440
173
252
84
184
72
251
3 138
431
555
2 152
137
495
452
184
258
87
200
75
264
3 154
641
520
1 993
123
440
424
177
239
84
184
76
247
2 944
391
547
2 006
125
432
428
177
243
86
188
76
251
2 958
487
535
1 936
112
409
418
174
234
85
188
76
240
3 072
400
598
2 074
126
449
443
175
258
87
187
83
265
10, 271
7 489
563
2 219
146
505
483
181
276
96
186
84
263
481, 224
191,711
49, 345
9,495
37, 426
64, 579
128, 668
437, 531
172, 796
50, 744
10, 242
49, 115
65, 474
89, 160
374, 908
163, 906
40, 856
8,573
35, 062
62, 825
63, 686
461, 416
196, 916
49, 479
10,241
38, 682
79, 293
86, 805
408, 692
171,065
45, 376
9, 573
36, 458
72, 312
73, 908
377, 515
158, 955
41,416
8 804
34, 379
67, 400
66, 561
427, 419
183, 689
45,644
8 861
37, 859
71, 445
79, 921
386, 791
158, 681
40, 535
9 041
39 763
66, 530
72 241
380 859
168, 048
39 247
8 648
34 907
69, 738
60 271
394 119
168, 679
39 154
8 662
35 608
67, 885
74 131
371,915
151, 957
44, 863
8 809
35, 818
66, 690
63, 778
399, 965
169, 921
49,254
8,947
38, 626
72, 863
60,354
942, 298
96, 825
204,911
71, 221
118,852
450, 489
669, 865
88, 698
101,219
77, 237
90, 155
312, 556
639, 410
82, 273
86, 309
57, 444
70, 623
342, 761
722, 082
87, 704
89, 843
66, 055
85, 132
393. 348
619, 537
90, 562
80, 333
56, 866
67, 571
324, 205
627, 606
86, 381
79, 300
49, 621
74, 642
337, 662
697, 825
88, 165
82, 751
63, 721
83, 043
380, 145
649, 190
90 063
98, 097
64 886
64 772
331 372
630, 661
87 548
74, 080
55 141
78, 386
335 506
661
86
81
58
76
358
463
72?
417
039
298
982
622, 319
85 987
73, 224
52, 530
66, 241
344, 337
695, 482
90,642
85, 437
75, 584
80, 033
363, 786
22, 030
-21.2
3,526
2,081
64, 400
40, 30C
9,600
6,100
21, 956
-43.3
7,074
1,555
63, 400
40, 800
10, 300
5,100
21,958
-9.9
303
1, 930
61, 800
39, 300
10, 900
4,900
21, 965
-2.0
389
9,397
68, 700
42, 400
12,900
5,400
21, 969
37.5
1,088
3,517
66, 000
41, 900
12, 500
4,900
21, 973
-48.4
2,004
68,900
43, 200
13, 400
5,000
21, 927
-16.9
541
3,831
70, 000
43, 300
13, 200
6,100
21, 908
—72 7
852
2,400
71 100
44 300
13 300
6 100
21.809
—65.4
1 274
2,978
71, 400
45,200
J2,900
5 800
21,810
—34 6
1 065
2 128
21, 759
—34.6
781
2,377
21, 710
-36.7
1,203
2,712
13, 100
5 100
13,300
5.600
13,500
5,600
282
3,870
.853
314
4,412
.853
128
5,618
.853
182
6,326
.853
190
4,843
.853
134
5,124
.853
167
5,956
.853
227
7 146
853
460
9 351
.853
262
7 727
.853
196
8,366
.853
1,144
9,036
.853
2,361
6,678
3, 751
2,553
4,065
3,372
2,050
4,203
3,163
2,314
2,299
3,775
2,700
2,328
3,643
2,508
3,494
3,229
2,703
4,672
3,609
2,732
2 283
1,997
2,783
2, 853
2,779
2,754
3,236
2,840
3,117
3,366
30, 781
209, 175
2, 694
5,564
29, 981
207, 100
2,800
4,400
29, 904
206, 200
2,900
5,800
29, 707
205, 100
3,000
6,900
29,735
206, 200
3,100
5,800
29, 870
207, 600
3,100
6,400
30, 500
29, 922
29, 985
29 929
30 074
29 892
209, 354 P209 100 P210 500 p 211, 800 ' 215, 400 * 217, 300 p
3,256 v 3 400 v 3 400 p 3 300 J>3 200 P 3, 200
7,581 P 5 200 P 6 900 p 6 000 P 7, 500 p 8, 300
200, 917
102, 451
70, 375
28,091
199,800
102, 300
70, 600
26, 900
197, 400
99, 600
71, 000
26, 900
195, 200
96, 700
71, 700
26,900
197, 300
98, 600
72, 000
26,700
198, 000
98, 700
72, 500
26,800
198, 517
98, 132
73, 292
27, 093
TO 200, 400
p 100 000
r> 73 700
f> 26 800
p 200,300
P 99, 400
•P 74 000
* 26, 900
p 202, 500
p 101, 200
p 74, 400
P 26, 900
43.1
26.8
19.7
42.7
24.1
18.6
42.7
25.5
19.2
44.6
29.2
19.7
41.3
27.6
18.8
41.9
25.5
18.8
44.2
26.8
19.7
41.6
24 9
18 8
40.0
24.8
18 5
40.4
25.3
19.4
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, IT. S
mil. of dol. .
Net release from earmark §
do
Exports
thous. of dol
Imports
do
Production reported monthlv 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. offineoz_
Mexico
- do
United States
_
do
Money supply:
Currency in circulation
mil of dol
Deposits and currencv, 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
Currencv outside banks
.__ do
Turnover of demand deposits except interbank and
U. S. Government, annual rate:f
New York City
ratio of debits to deposits .
6 other centers 9
do
338 other reporting centers
- do
r
v 204, 800
P 103, 100
P 74 700
v 26, 900
r
39.3
23.6
18 6
r
21, 713 P 21, 714
1.8
2, 363
3,024
.853
r
30, 509 v 29 788
218, 700
p 3, 400
P5.900
p 205, 800
P 104, 100
P 74, 300
P 27, 500
P 209,400
P 106,900
P 75, 100
p 27, 400
42.2
26.3
20.7
928.1
P21.2
r
853
48.1
42.0
P 25 4
9 19 5
PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Fed. Trade and SEC) :*
Net profit after taxes, all industries
mil. of dol
Food and kindred products
do
Textile mill products
- -_
do
Lumber and wood products (except furniture)
mil. of dol
Paper and allied products
do
Chemicals and allied products.. _
do
Petroleum refining
do
Stone, clay, and glass products _
do _ _
Primary nonferrous metal
do
Primary iron and steel
_
_ do. __
Fabricated metal products (except ordnance,
machinery, and transport, equip.)- mil. of dol__
Machinery (except electrical)
do
Electrical machinery
_ _
do
Transportation equipment (except motor vehicles,
etc )
mil. of dol
Motor vehicles and parts
_
do
All other manufacturing industries
do
2,591
190
33
2, 595
174
32
2,922
234
16
2,658
252
29
24
105
238
624
80
109
205
14
114
282
543
68
99
167
42
122
303
520
135
121
185
43
116
287
505
147
106
146
103
184
163
84
229
173
116
253
162
113
196
146
80
233
218
90
291
236
110
340
265
97
191
286
1,302
1,298
1,796
1,338
Dividends paid (cash) , all industries .
- do
Electric utilities, net profit after taxes (Fed. Res.)
268
324
268
266
mil. of dol
Railways and telephone cos. (see pp. S-23 andS-24).
r
Revised.
» Preliminary.
t Revised data for January-July 1952 for new paid-for insurance written are shown on p. S-17 of the October 1953 SURVEY; revisions for 1951-52 for premium income will be shown later.
cf Data for 1953 for total ordinary insurance written include revisions not distributed by regions.
§ Or increase in earmarked gold (—).
tRevised series, reflecting change in number of reporting banks and centers. Data for 1943-53 for New York City appear on p. 23 of the September 1954 SURVEY; those for other centers will
be shown later.
9 Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
* New series. Compiled jointly by the Federal Trade and Securities and Exchange Commissions. Data are estimated totals based on reports from all manufacturing corporations registered
with SEC, all nonregistered manufacturing corporations with total assets of $5,000,000 and over at the end of 1949, and a sample of nonregistered manufacturing corporations with total assets of
less than $5,000,000 at the end of 1949. Comparable data for 1951-53 appear on p. 27 of the December 1954 issue of the SURVEY.
SUKVEY OF CURKENT BUSINESS
February 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Survey
ber
S-19
1955
1954
January
February
March
May
April
June
July
August
Septem- October Novem- December
ber
ber
January
FINANCE—Continued
1
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
M/unicipal State etc
do
Foreign
do
Refunding total
do
Domestic total
do
Corporate
do
Federal agencies
do
Municipal State etc
do
Securities and Exchange Commission::}:
Estimated gross proceeds, total
do
By type of security:
Bonds and notes, total
do
Corporate
do
Common stock
do
Preferred stock
do
By type of issuer:
Corporate, total
do
Manufacturing
do
Mining
do
Public utility
do
Railroad
do
Communication. ..
_
do
Real estate and financial
do
Noncorporate, total
do
TJ S Government
do
State and municipal
do
New corporate security issues:
Estimated net proceeds, total
do
Proposed uses of proceeds:
New money, total
do
Plant and equipment
do
Working capital
do
Retirement of securities
do
Other purposes
do
Proposed uses by major groups:
Manufacturing total
do
New monev
do
Retirement of securities
do
Mining, total
do
New monev
do
Retirement of securities
do
Public utility, total
do
New money
do
Retirement of securities
do
Railroad, total
do
New money do
Retirement of securities
do
Communication total
do
New money
do
Retirement of securities
do
Real estate and financial total
do
New money - _
do
Retirement of securities
do
State and municipal issues (Bond Buyer):
Long-term
thous. of dol
Short-term
,_
. d o
2 324
2 219
2 161
1 388
0
773
58
106
106
36
62
g
1,838
1 342
1 334
536
47
751
8
495
482
179
268
34
1,921
1 754
1 715
859
31
826
39
167
167
96
45
26
1,632
1,053
1,046
731
32
282
7
579
579
396
181
2
783
605
546
267
0
279
59
178
178
76
85
17
1,947
4,386
2,438
2, 151
1,298
2,131
' 6, 547 ' 1, 366
2,529
1,726
4,184
647
73
130
2, 189
808
118
131
1,991
1,077
87
74
1,224
369
30
44
2,010
893
62
59
' 6, 230 ' 1, 263
'334
'817
66
2fi4
52
'37
2, 371
852
97
61
726
110
29
367
16
31
90
628
88
41
314
31
26
52
511
735
1, 237
532
72
314
43
2
192
914
508
280
443
124
15
161
13
27
16
854
546
300
1,014
154
43
252
130
331
48
1,117
464
652
'437
'113
'61
'66
1 319
1,057
311
76
448
7
9
160
1,381
523
855
' 1,133
1 186
850
208
36
507
1
41
27
3,537
2 669
783
'31
'929
466
'459
1,011
188
74
463
62
44
104
1, 518
557
891
448
713
616
836
1,041
1,223
437
1,001
'1,117
'428
99C
410
338
72
9
29
590
473
117
53
70
471
389
82
129
16
614
472
142
183
38
812
635
177
182
47
853
667
186
325
45
310
210
100
91
36
749
617
132
224
27
'865
' 487
'378
' 109
' 143
'251
' 149
'102
'129
'48
530
373
157
404
62
52
46
86
76
6
39
25
12
309
237
73
31
19
12
26
25
305
256
21
74
61
0
442
381
60
7
7
0
9
8
0
159
59
97
528
507
4
71
39
27
310
170
129
43
18
25
2
2
0
190
54
128
123
95
16
14
12
0
159
102
55
13
10
0
27
27
0
16
9
3
152
125
17
41
39
'305
••291
6
'32
'21
9
'271
' 193
' 61
45
20
25
'98
'98
0
'266
' 205
' 110
'92
187
88
63
69
52
51
18
25
204
181
8
34
32
1
501
327
173
1
1
0
40
40
0
26
22
1
i 977
835
441
0
393
44
140
140
20
115
4
830
758
745
315
32
398
13
72
72
15
55
2
1 304
1 167
1 087
1 537
1 346
1 329
2,736
1,655
1,386
1,913
2,642
1, 385
51
43
1,545
462
90
20
1,297
366
63
27
1,699
1,478
423
38
202
60
611
48
1,258
423
777
571
136
34
279
48
27
12
1,083
561
399
456
53
20
272
30
7
52
930
515
414
1,464
563
1,413
1,111
303
26
25
531
485
46
18
13
418
400
9
37
34
1
200
184
8
59
59
0
608
608
0
47
40
1
134
111
16
32
29
1
276
275
!1 117
490
39
557
81
136
136
71
58
7
513
144
69
602
522
485
114
730
17
191
191
112
76
3
408
111
110
1,706
1 311
1,311
611
64
636
0
395
395
285
96
14
'308
^36
'275
45
'99
'268
'5,414
4,611
615
r 75
12
11
0
7
0
51
40
0
107
95
0
29
28
0
362
306
46
16
14
2
30
22
0
88
54
0
777, 141
218, 734
399,429
304, 473
414, 306
438, 195
569, 850
266, 676
735, 074
249, 648
782, 572
244, 326
854, 718
176, 741
280, 426
339, 707
300, 344
257, 554
651, 593
351, 010
210
310
158
250
136
244
160
369
183
413
116
344
117
369
254
496
200
363
147
311
129
236
239
237
297
1,694
709
1,170
1,690
741
1,108
1,688
1,716
1,062
1,054
1,786
819
1,094
1,841
836
1,186
309
1,857
838
1,173
1,926
877
1 169
1,998
910
1,194
2, OS1
924
1,291
2,131
924
1,364
2,242
972
1,416
100. 91
101.31
78.67
100. 62
101. 00
78. 74
100. 53
100. 90
78.96
100. 39
100. 74
79 71
100. 13
100. 47
79. 85
100. 07
100. 43
78.92
117.5
126.9
100. 36
117.8
128.4
100. 28
117.6
127.2
99.92
117.5
126. 9
99.69
117.4
127 A
99.27
126. f
98.97
92 201
102, 829
85, 991
90, 886
64,498
68, 903
70 651
77, 015
98 178
99,831
150 401
155, 797
90,201
100, 365
84, 448
88, 658
62, 600
66. 632
68, 690
74, 512
96 042
96,368
147, 784
152, 634
(2)
48
48
0
26
25
(2)
2
()
18
17
0
269
258
0
30
23
7
7
o
(2)
248
161
75
129
6
123
328
326
2
48
43
3
' 59
MO
r (2)
'65
' 46
' 18
51
(2)
.50
'75
'21
54
'31
'20
459
152
307
61
43
18
44
43
103
83
11
615, 479 ' 458, 795 890,718
260, 413 ' 133, 922 320, 272
COMMODITY MARKETS
Volume of trading in grain futures:
Corn
Wheat ,
mil of bu
do
211
312
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. Members
Carrying Margin Accounts)
Cash on hand and in banks
Customers' debit balances (net)
Customers' free credit balances
Money borrowed
_
mil of dol
do
do
do
768
787
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.),
99.32
98.32
100. 28
100. 64
100. 71
100. 00
101.00
total§
.
dollars
99.74
98.74
101.12
100. 68
101. 41
100. 40
101. 04
Domestic-. __
_
do
77.49
78.34
77.64
77.17
76.30
77.90
78.17
Foreign
do
Standard and Poor's Corporation:
Industrial, utility, and railroad (Al-f- issues) :
116.5
113.5
117.5
117.9
114.6
117.0
118.1
Composite (17 bonds)
dol. per $100 bond
125.4
125.6
123. 6
122.3
123.6
123. 9
123.9
Domestic municipal (15 bonds) . .
do
97.42
95.85
98.62
99.87
99.68
99.49
100. 36
U. S. Treasury bonds, taxable
do
Sales:
Total, excluding U. S. Government bonds:
All registered exchanges:
83, 039
87, 702
74, 769
73, 721
80, 038
79, 128
73, 701
Market value
thous of dol
91,416
83, 764
84, 141
92, 499
91, 677
97, 078
82, 290
Face value
do
New York Stock Exchange:
81, 229
77, 099
86, 220
72,116
72, 013
78, 470
72, 601
Market value
do
94, 863
82, 136
80, 225
81, 102
88, 486
89, 996
88, 276
Face value
do
r
2
Revised.
1 Includes International Bank securities not shown separately.
Less than $500,000.
{Revisions for 1952-February 1953 will be shown later.
§Data for bonds of the International Bank for Reconstruction and Development, not shown separately, are also included
in computing average price of all listed bonds.
125.4
97.88
SURVEY OF CURRENT BUSINESS
S-20
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Survey
ber
February
1954
January
February
I
March j April
May
! June
1»55
July
August
DecemS^™- October November
ber
January
FINANCE—Continued
SECURITY MARKETS— Continued
Bonds— Continued
Sales— Continued
New York Stock Exchange, exclusive of stopped
sales face value total §
thous of dol
IT. 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
_._
do
\a
do
A
. - do
Baa
do
By groups:
Industrial
do
Public utility ..
--do
Railroad
do
Domestic municipal:
Bond Buyer (20 bonds)
do
Standard and Poor's Corp. (15 bonds)
-do ,_
U. S. Treasury bonds taxable
do
69, 272
1
69. 271
75 856
6
75, 850
62, 595
13,102
79, 181
0
79, 181
65. 421
13.691
75. 166
0
75. 166
64, 443
10. 629
73 779
0
73, 779
64, 860
8,822
77 847
0
77, 847
68, 552
9,238
83 871
10
83, 861
74, 966
8,781
76 251
5
76, 246
68. 307
7. 878
59 575
1
59. 574
50. 574
8. 965
67 945
5
67, 940
57, 516
10, 362
97 202
0
97, 202
88, 096
9. 009
126 487
62, 126
6,861
86, 352
0
86, 352
72, 247
13,970
99, 828
97, 871
1, 406
101, 539
99, 122
1,842
101,246
99, 162
1,421
101,936
99, 419
1.842
107, 646
105,557
1,424
107, 346
104, 843
1,838
107, 976
105, 867
1.441
107, 286
104, 782
1.839
108 356
106, 255
1.440
107,288
104, 781
1,843
105 094
102 990
1,436
105, 091
102, 577
1,849
105 582
103, 474
1,437
104,835
102, 325
1,844
105 727
103, 608
1, 445
104, 770
102, 268
1,837
109 495
107. 382
1. 440
108,816
106 322
1,829
109 350
107. 232
1,448
108. 778
106. 280
1 . 833
109 395
107, 269
1, 453
108, 965
106, 477
1, 823
109 139
107,012
1,454
109, 003
106, 516
1, 822
106 517
104, 442
1,403
106, 438
103 995
1,778
3. 39
3.34
3.23
3.14
3.12
3.13
3.16
3.15
3. 14
3.13
3.13
3.13
3.13
3. 15
3.13
3.28
3.40
3.74
3.06
3.22
3.35
3.71
2.95
3.12
3.25
3.61
2.86
3.03
3.16
3.51
2.85
3.00
a. 1 5
3.47
2.88
3.03
3.15
3.47
2.90
3.06
3.18
3.49
2.89
3.04
3.17
3.50
2.87
3.03
3.15
3.49
2.89
3.04
3. 13
3.47
2.87
3.04
3.14
3.46
2.89
3.04
3.13
3.45
2.90
3 04
3.14
3 45
^
3
3
3
3.28
3.37
3.52
3.23
3.31
3.47
3.12
3.23
3.35
3.05
3.14
3.24
3.04
3.13
3.19
3.06
3.13
3.21
3.10
3.15
3.23
3.10
3.13
3. 23
3.07
3.12
3.21
3.07
3.13
3.22
3.06
3.11
3.23
3.06
3.10
3.22
3 07
3. 10
3 23
3 (ix
3 Vr
3 *> >
2.58
2.59
2.79
2.46
2.50
2.68
2.39
2.39
2.60
2.44
2.38
2.51
2.49
2.47
2.47
2.51
2.49
2.52
2.40
2.48
2.54
2.26
2.31
2.47
2.26
2,23
2.48
2.35
2.29
2.51
2.33
2.32
2.52
2.33
2.29
2.55
2.36
2.33
2 57
0
3*>
"> (^
689. 5
134.7
239. 8
8.3
244.1
68.9
84. 2
1.9
1, 274. 5
78.7
833. 1
93.9
588. 3
108.0
212. 5
6.8
227.6
55. 8
96. 7
2.1
1 252 5
86.4
816. 5
94.5
525.8
130.6
149.9
2.3
339 6
68.0
170.7
4 6
1 264 5
93.9
822.0
93 8
594 2
114.3
211.6
6.5
256. 6
75.2
104.4
1.7
1 941.0
233.5
1, 237. 8
140.1
104.4
68.0
32.3
92.3
9.6
1.1
56.9
10.1
17.0
4.0
39.4
102.3
60.0
43.8
23.2
107.6
70. 2
24.7
51.3
7.2
1.1
57.3
2.9
7.6
4.1
38.4
100.7
55.2
37.4
23.4
107.2
66.8
13.7
48.2
7.1
1.6
64.8
9.5
13.2
7.2
39.0
102.6
51 2
38.3
23.7
107.8
74.4
20.3
52.4
6.9
1.2
55.9
4.4
8.2
5.6
42.1
113.9
87.0
47.4
39.2
4.11
4.30
2.09
3.25
3.01
3.26
4.14
4.34
2.11
3.24
3.01
3.28
4.14
4.34
2.13
3.11
3.01
3.37
4.18
4.41
2.13
3.11
3.01
3.37
4.22
4.47
2.13
3.11
3.01
3.37
4.22
4.47
2.13
3.14
3.01
3.37
4.24
4.47
2.13
3.15
3.01
3.37
4.22
4.43
2.13
3.15
3.05
3.37
4.22
4.43
2.13
3.15
3.07
3.37
4.23
4.46
2.13
3.15
3.08
3.37
4.42
4.72
2.13
3.17
3.09
3.37
4.43
4.73
2.14
3.14
3.15
3.37
4. 4S
4.79
2. 14
3.19
3. 15
3. 39
Stocks
Cash dividend payments publicly reported:
1,715.2
Total dividend payments
mil of dol
170.6
Finance
do
1,081. 7
Manufacturing
_.
_do_._
141.3
Mining
do
Public utilities:
43.7
Communications
do. .
100.3
Heat, light, and power.
_
_
-do
87.4
Railroad
do
48.8
Trade
do
41.4
Miscellaneous
do
Dividend rates, prices, yields, and earnings, common
stocks (Moody's):
4.08
Dividends per share, annual rate (200 stocks) -dollars- .
4.27
Industrial (125 stocks)
do
2.09
Public utility (24 stocks)
do
3.21
Railroad (25 stocks)
do
2.97
Bank (15 stocks)
_ _do
3.26
Insurance (10 stocks).
do ...
Price per share, end of month (200 stocks)
Industrial (125 stocks)
Public utility (24 stocks)
Railroad (25 stocks)
Yield (200 stocks)
Industrial (125 stocks) ._
Public utility (24 stocks)
Railroad (25 stocks) __ .
Bank (15 stocks)
Insurance (10 stocks)
. do
do
do
do...
73.50
77.06
39.61
43.18
77.11
81.37
40.87
46.58
77.85
81.98
41.42
46.80
80.56
85.53
42.56
46.40
84.67
90.76
42.91
47.16
86.51
92.86
43.79
49.63
87.60
94.34
43.91
50.01
91.97
98.49
46.67
52.98
88.91
95.06
45.44
50.01
94. 65
102. 88
45.90
51.47
92.64
100. 66
44.18
52.29
100. 60
110. 13
46. 33
58.38
105. 40
115. 64
47.56
64.27
10*121
116.83
4fi. 94
f>4. 35
percent..
. do
do
_ do
do
do
5. 55
5.54
5.28
7.43
4.61
3.26
5.33
5.28
5.11
6.98
4.72
3.20
5.32
5.29
5.09
6.92
4.77
3.08
5.14
5.07
5.00
6.70
4.81
3.17
4.94
4.86
4.96
6.59
4.66
3.08
4.88
4.81
4.86
6.27
4.62
2.94
4.82
4.74
4.85
6.28
4.59
2.88
4.61
4.54
4.56
5.95
4.35
2.73
4.75
4.66
4.69
6.30
4.32
2.79
4.46
4.31
4.64
6.12
4.39
2.77
4.57
4.43
4.82
6.02
4.50
3.00
4.39
4.29
4.60
5.43
4.26
2.74
4.20
4.09
4. 50
4.89
4.09
2.52
4. 22
4. 10
4. 5f>
4. %
4. 14
2. 58
Earnings per share (at annual rate), quarterly:
8 08
2.78
Public utility (24 stocks)
do
8.76
Railroad (25 stocks)
do
Dividend yields, preferred stocks, 11 high-grade
4.20
4.15
(Standard and Poor's Corp.)
percentPrices:
106. 74
103. 86
Dow-Jones & Co., Inc. (65 stocks)
dol. per share-281.15
286. 64
Industrial (30 stocks)
._ .
do
52.54
53.33
Public utility (15 stocks)
do
98.17
96.37
Railroad (20 stocks)
_ do .
Standard and Poor's Corporation:
Industrial, public utility, and railroad :d"
190.7
195.4
Combined index (480 stocks)
1935-39=100206.2
211.9
Industrial, total (420 stocks)
do
197.0
201.0
Capital goods (129 stocks).
do .
177.0
172.9
Consumers' goods (195 stocks)
do
125.2
126.7
Public utility (40 stocks)
_
- do
159.5
156.9
Railroad (20 stocks). _.
do ..
124.3
122.8
Banks, N. Y. C. (16 stocks)
do
229.4
238.0
Fire and marine insurance (17 stocks)
_do.
Sales (Securities and Exchange Commission) :
Total on all registered exchanges:
1,568
1,533
Market value
.mil. of dol
65, 081
64, 873
Shares sold
thousands
On New York Stock Exchange:
1,344
1,296
Market value
mil. of dol
45, 458
47, 313
Shares sold
thousands
Exclusive of odd lot and stopped sales (N. Y.
33, 375
Times)
thousands. . 36, 159
Shares listed, New York Stock Exchange:
Market value, all listed shares
...mil. of dol._ 117,257 123, 190
2,927
2,931
Number of shares listedmillions..
r
**3
Oft
15
4r>
7 75
2.81
3.14
8 25
2.85
4.60
7 50
2.88
6 42
4.08
4.04
4.02
4.03
4.05
4.04
4.01
3.98
3.93
3.92
3.93
3. 1'S
111.55
292. 13
54.39
102. 44
113.11
299.15
55. 64
101.38
115.94
310.92
56.39
102. 01
120. 74
322. 86
57.37
108. 62
122.69
327. 91
57.92
110. 89
127. 66
341. 27
59.43
116. 65
129. 76
346. 06
61.01
118. 29
130.40
352. 71
61.04
116.03
131. 54
358. 30
59.43
118. 41
137. 84
375. 50
60.12
126. 95
145. 81
393. 84
61.43
139. 64
147.98
398. 43
62. 39
142. 45
199.6
216.5
204.8
178.1
128.8
165.8
121.7
243.7
204.9
222.9
211.7
180.5
131.0
165.4
120.7
248.1
212.7
233.1
225.3
184.6
132.5
163.7
121.8
249.1
219.8
241.5
235.9
189.2
134.9
173.0
124.8
260.6
221.8
244.0
241.6
191.2
135.0
175.7
125.8
265.1
231.1
254.5
255.9
202.4
139. 5
184.1
131.3
283.3
236.4
260. 6
257.2
207.3
142.3
187.2
135. 7
293.3
238.5
264.4
257.3
209.4
140.7
182.0
135.4
284.1
243.5
271.4
262.5
214.8
139.4
186.7
135.9
274.8
252.2
282.0
278. 5
221.2
141.4
196.7
138. 0
278.5
264. 5
296.7
296.8
228.7
144.4
217.5
147.6
295.9
208. S
301,9
302. 7
232, 2
145. 1
222. 4
150. 5
302. 3
1,700
60, 104
2,043
75, 234
2,173
84, 949
2,122
84, 979
2,105
88, 072
2,453
89, 573
2 752
97, 306
2,178
81,922
2,371
88, 329
2,987
101, 956
3,714
135, 761
1,458
43, 482
1,751
52, 932
1,879
62, 793
1,846
61,746
1,823
61, 602
2,144
67, 359
2.410
70, 904
1,852
53, 201
2, 031
61, 725
2,577
71, 843
3,196
93, 705
33, 295
44, 132
43, 867
41,913
42, 225
51, 854
56, 928
41,232
44, 169
63, 930
76, 456
124, 906
2,937
129, 122
2,943
134, 586
2,967
137, 928
2,979
139, 188
3,047
145, 843
3,063
142,284
3,071
150,659
3,093
148, 163
3,094
160, 986
3,107
169, 149
3,174
74. 64 C
Revised.
* Preliminary.
§Sales and value figures include bonds of the International Bank for Reconstruction and Development not shown separately; these bonds are included also in computing average price <
all listed bonds shown on p. S-19.
c^Number of stocks represents number currently used; the change in the number does not affect the continuity of series.
F,i.nuu-.v in-,.-
SURVEY OF CUREENT BUSINESS
Unless otherwise stated, statistics through 1952 and 1953
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Survey
ber
S-21
1954
January
February
March
April
May
June
1955
July
Au£;ust
Decemg£m- October November
ber
Se
January
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS (QUARTERLY)t
Exports of goods and services, total
mil. of dol
Vf ilitarv transfers under aid programs, net
do
Other merchandise, adjusted
do
Income on investments abroad
do
Other services
do
5,230
803
3,209
585
633
4,767
826
2,849
464
628
3 516
Imports of goods and services, total
Merchandise, adjusted cf
Income on foreign investments in U. S.
Military expenditures
Other services cf
do
- do
do
do
do
3,939
2,596
143
679
521
3,717
2, 514
4,198
106
592
505
2,752
108
662
676
Balance on goods and services
do
-f 1, 291
+1,050
+1,493
+803
Unilateral transfers (net), total
Private
Government
do
do
do
-1,375
— 1,356
-106
— 1,250
— 1 479
— 111
— 1 368
—1 214
— 110
— 1 104
II S long- and short-term capital (net), total
Private
Govpmrnent
do
do
do
—213
— 192
-206
-328
+122
—408
—287
-390
—21
-301
— 18
+14
Foreign Ion?- and short-term capital (net)
do
+232
+443
+239
+439
Gold sales [purchases (— )]
do
+130
+56
+8
+164
Errors and omissions
do
-65
+13
+147
+95
-117
— 1,258
4,807
700
2 933
473
701
5 691
996
479
700
4,004
2, 455
95
647
807
FOREIGN TRADE
Indexes
Exports of U. S. merchandise: J
Quantity
1936-38=100
Value
do
Unit value
do
Imports for consumption: t
Quantity
do
Value
do
Unit value
do
Agricultural products, quantity:
Exports, U. S. merchandise, total:
Unadjusted
1924-29—100
Adjusted
do
Total, excluding cotton:
Unadjusted
do
-Vdjusted
do
Imports for consumption:
Unadjusted
do
\4justed
.
. . do
271
551
203
218
443
203
238
480
202
225
458
203
285
580
203
281
570
203
296
600
203
261
525
201
235
468
199
226
451
199
'258
513
199
251
505
201
159
437
276
149
411
276
144
398
276
153
426
279
161
460
285
141
405
286
164
474
289
139
400
288
140
403
287
133
379
284
132
371
281
144
405
282
90
73
72
69
82
94
89
97
90
114
92
119
92
132
75
110
64
80
70
60
102
74
103
81
123
108
100
99
107
125
114
123
119
141
133
156
120
150
115
145
97
101
109
94
150
116
147
127
107
106
103
100
95
94
101
90
115
108
96
98
106
114
81
89
78
85
80
85
78
77
81
84
thous. of long tons
do
4,887
3,751
8,435
3, 855
8,198
3,965
8,799
5,616
9,148
8,232
6,552
8,892
6,570
9,845
6,386
9,154
Fxport-! including reexports total^I
mil of dol
By geographic regions: A
Africa
thous. of dol
\siaandOceania
- do
Europe
do
Northern North America
do
Southern North America
_ do
South America
do
Total exports by leading countries:A
Africa:
E gvpt
_
do
Tfnion of South Africa
do
Asia and Oceania:
Australia, including New Guinea
do
British Malaya
__do
China, including Manchuria. _
do
India and Pakistan
_
do
Japan
do
Indonesia
- doRepublic of the Philippines
do
Europe:
France
do
Germany
do
Italy
do
Union of Soviet Socialist Republics
do
United Kingdom
_ . do
North and South America:
Panada ,
_ _ _ _
... d o
1, 352. 6
1,091.5
1, 181. 5
I, 123. 9
1, 425. 4
1, 398. 6
1, 474. 2
1, 290. 4
1, 150. 2
1,109.3
1, 263. 4 ' 1, 242. 0 p 1, 289. 0
40, 139
233, 499
296, 900
210, 820
146, 731
152, 735
36, 212
169, 995
219, 562
199, 629
131, 033
40, 403
197, 705
246, 191
207, 876
129, 801
124, 424
28,851
61, 756
234, 484
49, 322
202, 834
278, 076
267, 974
132, 824
146, 668
59,900
181, 712
292, 575
242, 929
125, 654
150, 837
46, 736
176, 835
249, 817
219, 896
119, 602
162, 471
49, 525
141, 224
225, 279
215, 117
118, 878
153, 954
48, 916
146, 943
229, 643
213, 547
144, 125
49, 198
158, 828
351, 361
232, 886
139, 864
161, 779
3,429
21, 323
2,753
17, 093
2,976
17, 201
2,814
18, 878
3,073
3,967
18, 760
18, 943
14, 383
2,275
0
13, 364
55, 914
8,317
23, 878
17, 574
3, 292
0
16, 892
43, 990
5,189
22, 876
17, 816
2,447
0
12, 950
32, 024
3,032
23, 421
14, 734
2,412
18, 838
21, 599
34, 072
34, 337
32, 186
23
47, 777
22, 586
33, 220
21, 581
86
50, 706
Shipping Weight
Water-borne trade:
Exports, incl. reexports §
General imports
' 6, 339
9, 133
r
5,986
8,970
Value*
Latin American Republics, total.
Argentina
Brazil
Chile
do
do
. do
do
117,026
174, 984
222, 065
243, 766
116,330
96, 671
306,117
256, 833
166, 798
178, 762
2,692
2,546
2,724
4,064
3,794
3,407
16, 124
18, 100
19, 409
12, 147
28, 524
21, 447
18, 424
8,710
1,576
13, 046
2,691
11,685
14, 986
18, 323
0
10,019
0
0
17, 369
83, 157
7, 112
25, 826
13, 289
73, 562
27, 699
39, 292
21, 869
2,996
0
19, 845
83, 896
8,131
33, 307
75, 993
6,876
20, 551
22, 920
1,926
2,262
4
2,857
0
21,326
25, 857
24, 628
79, 089
7,126
35, 072
62, 099
8, 740
26, 467
20. 305
44, 769
15, 627
31, 693
44, 609
27, 906
25, 315
39, 898
26, 955
5,925
121,960
45, 528
173, 184
349, 767
241, 925
139, 921
155, 596
0
3,579
2
2,276
0
12, 842
32, 140
12, 547
40, 907
16, 945
44, 063
4,396
4,657
4,067
29, 897
31, 348
26, 559
21, 549
32, 070
16, 324
78
53, 724
22, 830
31 145
17, 459
32, 471
49, 286
28, 179
35, 321
59 611
33, 316
61, 910
101, 546
30, 887
37, 903
27, 508
31,770
1
0
3
2
2
1
62, 673
44, 293
49, 748
39, 838
44, 649
46, 297
210, 813
199, 625
207, 870
243, 763
256, 827
267, 971
242, 833
219, 877
215, 097
213, 533
232, 872
241, 920
283, 616
11, 498
33, 541
12, 916
236, 172
243, 225
7,748
31,824
4,580
326, 759
8,183
46, 781
7,911
264, 400
9,527
203, 511
4, 594
23, 334
262, 902
11,396
42, 518
6, 074
268, 002
10, 291
48, 601
4,602
263, 268
14, 193
47,901
4,364
253, 947
9 342
39, 865
287, 136
12, 348
36,611
281, 090
15 802
34, 936
5,947
6,801
7,905
22, 368
25, 030
5,263
5,083
6,058
40, 645
5,494
1
4
0
70, 210
21, 369
30, 697
29, 510
17, 312
22, 743
27, 846
26, 138
31, 354
33, 673
32, 598
35, 270
28, 039
Colombia
do
32, 798
28, 386
40, 234
33, 185
34, 305
36, 721
39, 008
34, 109
35, 760
35,353
39, 958
38, 377
Cuba
do
53,159
56, 653
63, 128
43, 648
62, 238
53, 953
58, 923
48, 282
48, 165
48, 497
52, 256
47, 312
Mexico -- do- -_
39, 202
41, 129
34, 652
48, 043
46, 966
56, 934
47, 433
41,618
37.229
43, 057
47, 131
46. 331
Venezuela
do
<• Revised.
* Preliminary.
tRevisions for 1946-53 for balance of payments appear on pp. 16 and 17 of the July 1954 SURVEY; those prior to August 1953 for foreign-trade_will be shown ]ater.
oPExcludes military expenditures.
§Exclu<
§Excludes
"special category" shipments and all commodities exported under foreign-aid programs as Department of Defense controlled cargo,
1 Total exports and data by economic
classes and commodities include shipments under the Mutual Security Program. Total MSP shipments are as follows (mil. dol.): December 1953ic classes
December 1954 respectively—215.3; 169.3; 184.4; 203.4; 167.2; 264.2; 359.3; 267.6; 200.4; 156.8; 103.7; 85.1; 100.1.
/^Excludes shipments under MSP and "special category" shipments not made under this program.
SURVEY OF CURRENT BUSINESS
S-22
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Survey
ber
February 1955
1954
January
February
March
April
May
June
1955
July
DecemAugust SeptemOctober November
ber
ber
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value}:— Continued
Exports of U. S. merchandise, total^
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_ .
1, 343. 2 1, 080. 1
1, 169. 7
1,115.6
1, 412. 9
1, 389. 1 1, 463. 1 1, 280. 9
1,140.9
1, 098. 7
1, 251. 6
1, 230. 7
187, 508
55, 462
69, 998
154,628
875, 645
133, 447
45, 234
55, 092
131,713
714, 650
134, 323
53, 472
62, 914
142, 367
776, 582
137, 969
55, 748
69, 620
129, 186
723, 124
158, 519
65, 793
63, 025
165, 713
959, 843
144, 403 168, 747
65, 699
73, 492
67, 372
61, 772
151, 847 151,939
951, 967 1,014,906
123, 005
65, 747
55, 394
154, 354
882, 362
121, 853
51, 644
52, 862
152, 194
762, 304
126,224
46, 257
59, 721
141, 524
725, 014
224, 474
64, 567
68, 071
163, 530
731, 002
217, 101
63, 873
74, 739
157,000
717, 960
304, 090
68, 347
18, 294
70, 169
22, 167
53, 252
205, 715
54, 136
15,755
55, 932
15, 982
26, 710
236, 064
71,415
19,169
65, 951
20, 005
16, 451
244, 937
80, 369
22, 105
60,018
15,066
17, 820
259, 365
79, 777
21, 280
65, 155
22, 028
22, 355
254, 461
64, 484
27, 758
70,230
21, 991
23, 085
26T, 290
83, 706
28, 400
58, 979
19, 647
23, 215
213, 478
43, 290
23, 505
62, 404
21, 785
23, 040
186,044
35, 403
19, 735
54, 228
18, 435
22, 216
193, 149
38, 164
20, 448
49, 074
16, 781
37, 827
312, 047
67, 823
25. 354
' 63; 543
21, 992
75, 505
329, 345
74, 441
27, 273
58, 691
24, 527
46, 073
Nonagricultural products, total
mil. of dol..
Automobiles, parts, and accessories^thous. of doL Chemicals and related products §cf
do
Coal and related fuels
do
Iron and steel-mill products
do
1, 039. 2
94, 660
82, 256
18, 480
44, 642
874.4
100,611
63, 208
18, 261
39, 969
933.6
113, 927
73, 216
15,669
39, 077
870.7
102, 810
66,613
15, 521
35, 791
1,153.5
147, 935
103, 184
23, 309
50, 001
1,134.6
134, 634
86, 590
28, 154
38, 646
1, 195. 8
113,054
90, 425
29, 701
39, 682
1,067.4
104, 683
87, 314
25, 617
41, 594
954.8
82, 669
85, 387
31, 925
43, 742
905.6
81,315
81, 626
28, 697
41, 408
939.6
80, 931
93, 035
35, 588
45, 562
9G1.3
91, 063
86, 120
31, 731
41, 439
Alachinery total §
\gricultural
Tractors parts and accessories
Electrical §
Metal working!
Other industrial
do
do
do
do
do
do
249, 630
7,831
27, 933
65, 396
23,106
113, 550
194, 487
8,954
20, 027
56, 365
16, 495
83, 545
218, 269
11,107
24, 831
56, 913
20, 713
94, 768
200, 172
13, 170
24, 253
51,613
11,817
92, 129
298, 255
15, 210
32, 151
78, 356
22, 855
135, 264
258, 677
14, 035
30, 411
66, 398
18, 710
117, 089
243, 638
10, 722
27, 762
65, 430
19, 760
109, 599
230, 226
11,818
27, 363
61, 270
15, 235
104, 025
204, 840
10,089
26, 877
50,096
20, 597
89, 193
208, 796
8,192
22, 577
55, 316
13, 449
98, 581
214, 810
7,236
23, 378
58, 731
14, 180
99, 743
228, 909
7,437
24, 518
61, 437
17, 044
106, 971
Petroleum and productscf
Textiles and manufacture*5
do
do
61,261
55,214
51, 571
47, 368
51,611
52, 312
45,483
43, 957
59, 087
65, 598
59, 772
51, 469
65, 494
49, 758
56, 738
45, 461
53, 408
48, 997
46, 909
51,017
57, 018
57,434
55, 383
53, 627
do
906, 869
833, 704
809, 111
857, 844
957, 459
828, 797
946, 744
821, 309
824, 521
780, 678
763, 173 ' 838, 833 p 949, 000
do
do
do
do
do
do
59, 802
126, 230
184, 287
211,718
104, 871
219, 961
55. 813
124, 291
160, 641
160, 888
129, 727
201, 346
60, 740
118, 576
155, 734
172, 594
133, 367
168, 103
49, 954
119,677
147, 593
203, 258
144, 410
192, 958
70, 444
159,985
197, 710
185,912
1 33, 467
209,942
55, 330
144, 867
159,112
193, 338
110, 380
165, 766
57, 234
155, 108
180, 134
219, 824
108, 125
226, 320
42, 200
132, 990
159, 995
201, 679
91,488
192,958
40, 785
148, 973
162, 231
206, 279
89, 868
176, 387
31, 543
142, 120
171, 945
205, 055
68, 973
161, 043
37, 742
127, 219
182, 073
201, 653
69, 231
145, 258
44, 288
129, 904
196, 756
211,055
72, 250
184, 580
do
do
1,149
8,248
1,433
6,616
1,178
6,853
3,037
9,170
4,083
8,253
2,244
9,790
1, 658
7,782
1,646
9,409
1,947
7,708
727
5,745
610
6,851
490
6,248
11, 878
13,918
913
19, 630
17. 867
13, 169
17, 765
12, 253
11, 484
694
20, 342
17, 693
12, 577
18, 534
8,361
10,176
435
20, 932
15, 563
12, 369
19, 346
4,989
11, 529
374
21,491
16, 178
10, 714
19, 408
15, 474
13, 137
1,958
20,656
29, 510
13, 542
29, 362
9,046
14, 780
348
17, 928
22, 764
13, 052
23, 658
9,636
18, 848
189
16,817
23, 672
17, 596
31,313
9,611
12, 232
118
19, 305
22, 155
10, 997
27, 814
10, 578
17, 496
261
17, 443
27, 427
16, 260
24, 604
13, 192
13, 519
695
19,039
27, 336
13, 537
22, 457
7,623
15,642
269
15, 268
24, 360
18, 383
17, 435
7,768
15,001
951
17, 250
27, 043
13, 462
15, 873
12 523
20, 939
13, 386
577
41,211
11,010
21,511
8,777
711
36, 973
10, 901
17, 958
11,655
717
37, 457
10, 278
18, 983
10, 551
854
37, 861
15,217
28,611
13,045
1,342
48, 370
12, 229
21, 750
10, 865
1,065
40, 429
14,680
26, 132
10, 754
1,146
45, 042
13, 065
20, 913
9,724
999
39, 504
12, 674
24, 841
11, 804
1,038
38, 860
12, 158
23,640
10, 924
1,604
43,083
14, 985
25, 380
14, 308
524
41, 263
15,833
29, 920
14, 888
890
35, 452
211, 642
160, 826
172, 541
203, 226
185, 879
193, 328
219, 782
201, 437
206, 175
204, 898
201, 607
210, 760
261,327
7,112
44, 991
17,863
38, 236
49, 413
23, 457
38, 634
317,005
11, 526
39, 997
37, 154
72, 747
38, 256
26, 748
40, 113
268, 307
11,415
38, 961
23, 705
57, 450
34, 527
19, 534
37,908
252, 123
8,942
34,265
14, 818
51, 595
37, 667
24, 358
38, 674
216,263
8,016
34, 181
15,260
34, 347
26, 805
19,558
40, 138
194, 180
6,500
59, 125
6,724
15, 554
19, 791
20, 950
37, 412
237, 374
5,894
55, 643
13, 044
37, 097
14, 992
21, 042
48, 550
829, 731
971, 607
819, 779
826, 540
776, 778
760, 741
831, 654
185, 487
163,018
82,040
203, 238
197, 870
General imports total
By geographic regions:
Africa
Asia and Oceania
Europe
Northern North America
Southern North America
South America
By leading countries:
Africa:
Egypt
Union of South Africa
Asia and Oceania:
British M^alava
China including M^anchuria
do
do
T
Indonesia
do
do
Europe:
FclllC
- -
Italy
Union of Soviet Socialist Republics
United Kingdom
North and South America:
do
do
do
do
do ...
__..do
do
do
do
do
301, 239
6,322
91, 259
8, 053
51, 376
22, 445
27, 204
42, 225
309, 312
5,103
80, 984
13, 832
37, 954
33, 638
31,715
42, 739
277, 881
7,307
50, 212
13, 591
39,911
36, 710
34, 009
38, 085
317, 252
10, 481
61, 501
14, 183
41,881
43, 656
40, 294
47, 129
324, 397
13, 539
84, 707
12, 113
38, 629
48, 058
37, 854
41, 598
rtsforconsum tion total
By economic classes:
Crude materials
Crude foodstuffs
M anuf actured foodstuffs and beverages
do
895, 780
842, 958
816, 316
874, 023
943, 462
Finished manufactures
By principal commodities:
do
Argentina
Brazil
Chile
Colombia
Cuba
M^exico
Agr C
bli «
il
ePort hpari's inol shells
Coffee
Hides and skins
Rubber crude including guayule
Sugar
do
do
do
do
do
do
do
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 and products
do
r
203, 179
247, 551
75, 445
186, 347
183, 255
206, 958
232, 363
82, 408
174, 760
146, 468
195, 888
203, 327
88, 069
166, 219
162, 813
208, 251
208, 505
97, 905
183, 540
175, 822
197, 956
241, 098
123, 309
183. 212
197, 886
203, 466
168, 214
106, 112
175, 124
176, 814
225, 389
199, 968
110, 872
242, 584
192, 794
185, 251
159, 202
93, 622
192, 272
189, 432
207, 398
142, 208
96, 615
194, 700
185, 618
197, 765
114, 793
86, 332
195, 137
182, 751
180, 801
123, 591
76, 189
187, 025
193, 136
372, 396
23, 929
175, 189
3,775
19, 704
16, 916
14, 453
371, 633
35, 681
162, 458
3,474
18, 678
32, 006
19, 433
340, 08"
25, 102
141, 089
3,132
17, 080
36, 852
14,62
361, 962
11, 940
158, 351
4,215
18, 855
45, 467
18, 975
427, 798
16,31^
175, 751
6,016
19, 461
52, 405
22, 660
327, 860
15, 049
106, 465
6,693
21, 401
42, 948
19, 576
372, 183
28, 824
127, 551
4, 885
26, 948
47, 699
21, 963
300, 844
23, 267
101, 651
4,696
17, 610
39, 445
19, 022
304, 453
16,180
90, 126
4,896
27, 214
41, 740
19, 145
259, 889
17, 291
64, 630
3,686
22, 564
30, 403
18, 533
252, 241
12, 822
75, 993
3,967
24, 371
16, 651
17, 689
288,050
18,788
106, 079
3, 752
23, 188
12, 880
15, 689
523, 383
7,924
471,325
6,844
476, 230
7,540
512, 062
5,023
515,664
6,424
501, 870
7,173
599, 424
5,375
518, 936
6,570
522, 087
4,805
516, 888
5,297
508, 500
2,838
543, 604
2,124
88, 622
19, 220
18,73
23,38
53,82
76,50
90, 994
20, 837
18,911
20, 657
42, 423
70, 077
89, 152
32, 254
12, 068
24, 873
46,515
67, 000
97, 469
26, 202
13,718
24, 920
53, 643
74, 566
88, 098
27, 685
12, 286
20, 532
47, 597
62, 135
98, 182
31, 201
11, 223
20,115
49, 478 1
65, 596
153, 634
48, 889
19, 782
28, 048
52, 529
67. 059
97, 278
37, 312
9,032
23, 884
46, 947
64, 684
96, 428
32, 542
16, 055
25, 082
52,063
62, 988
89, 048
31, 767
13, 660
25, 560
47, 487
64, 401
73, 197
17, 797
16, 015
25, 421
49, 651
67, 032
82, 969
25, 759
17, 041
27, 068
54, 284
74,077 I
i
Revised.
p Preliminary.
JRevisions prior to August 1953 will be shown later
ISee similar note on p. S-21.
9 Data for semimanufactures reported as "special category, type 1" are included with finished manufactures.
§ Excludes "special category, type 1" exports.
& Exports of jet fuel (totaling $1,719,000 in 1953) are included with petroleum and products beginning January 1954; with chemicals prior thereto.
—.
January
SURVEY OF CURRENT BUSINESS
February 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
S-23
1954
December
January
February
March
April
May
June
1955
July
August
Septem- October Novem- December
ber
ber
January
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Airlines
Operations on scheduled airlines:
Miles flown, revenue
thousands __
Express and freight ton-miles
flown
do
Mail ton-miles flown _
_ _ -do ...
Passengers carried, revenue
do
Passenger-miles flown, revenue
- _ millions. ,.
39, 361
16, 945
8,834
2,083
1,167
39, 035
13, 494
6,093
2,023
1,176
37, 345
12, 880
6,070
2,038
1,117
41, 402
14, 735
6,816
2 252
1,257
41,281
14 964
6,767
2,485
1,334
42, 758
14 780
6,344
2 520
1,363
42, 344
14 669
6,199
2 701
1,525
44, 190
13 793
6,045
2 687
1,514
37,859
12 704
6,053
2 471
1,392
42, 095
16, 478
6,160
2,621
1,436
43, 008
18, 759
6,549
2,673
1,414
40,498
17 361
6,497
2 417
1,281
38, 974
16, 557
27, 425
8,768
27, 850
9,502
33, 063
13, 977
31 215
12, 492
28 003
9,903
31 588
12 760
27 061
9,062
28 808
10 759
30, 318
8, 696
30, 784
11,982
32 132
12 458
13.2
946
142, 100
13.3
856
124, 700
13.4
803
119, 400
13.4
905
130, 300
13.5
874
130, 400
13.6
834
122 300
13.7
806
119, 900
13.7
749
117, 500
13.8
740
116, 400
13.9
785
114, 500
13.9
816
123, 400
14.0
820
127 100
14.0
862
Express Operations
Transportation revenues
Express privilege pavments
thous. of dol
do
Local Transit Lines
Fares, average cash ratef
Passengers carried, revenue
Operating revenues
-
cents_
._ .millions_.
thous. of dol
Class I Motor Carriers (Intercity)
Carriers of property (quarterly totals) :§
Number of reporting carriers
Operating revenues, total
thous. of dol
Expenses, total
do
Revenue freight carried
thous. of tons
1,882
859, 764
868, 914
65, 031
2,037
814, 650
791,010
63, 282
Carriers of passengers (quarterly totals):
Number of reporting carriers
Operating revenues, total
thous. of dol
Expenses, total
do
Revenue passengers carried
thousands
165
93, 969
90, 005
84, 726
169
78, 935
81, 034
76, 172
2
844,
807
64
042
448
973
697
169
93, 176
83 932
81 143
168
107, 372
88 267
83 553
Class I Steam Railways
Freight carloadings (A. A. R.):cf
Total cars
thousands
Coal
. . do
Coke
do
Forest products
_ do
Grain and grain products
do
Livestock
do
Ore
__ __
_ _ _ _ ___do
Merchandise, 1 . c . 1
. d o
Miscellaneous
._
do___
Freight carloadings (Federal Reserve indexes):
Total, unadjusted
1935-39=100..
Coal
_.
do
Coke
do
Forest products
...
____do___
Grain and grain products
do
Livestock
. ..
. . . do
Ore
do
Merchandise, 1. c. 1 _
_ _ _ do.
Miscellaneous
do
2,413
451
43
150
155
32
68
236
1,279
r
2,967
584
49
175
208
37
80
r
283
1, 550
2,462
421
37
158
173
24
63
253
1,332
2 412
383
34
156
166
28
58
261
1,325
2,445
378
31
157
162
31
79
253
1,356
3,345
507
37
205
228
38
303
309
1,718
2 730
439
29
163
214
23
285
235
1,342
3,251
433
35
178
312
31
351
290
1,621
2,708
438
27
155
212
31
249
252
1,344
2 711
452
29
162
199
46
228
248
1,348
3,629
635
43
230
268
77
246
327
1,803
2 685
493
35
170
220
47
110
247
1,363
2,518
487
36
169
185
34
62
239
1,306
3 054
608
50
194
225
40
75
288
1,575
108
97
142
120
112
56
62
38
124
108
100
126
122
124
56
58
38
122
107
87
116
128
122
43
55
40
126
105
78
105
126
117
51
51
41
125
108
79
96
127
118
55
88
40
128
114
84
93
133
127
53
224
39
130
116
85
93
132
158
41
255
38
129
114
80
91
120
181
47
255
38
126
114
90
87
125
149
56
217
40
127
120
98
97
140
147
89
205
41
133
124
105
109
149
150
111
170
41
136
121
106
116
143
159
85
98
41
134
114
106
125
137
133
60
57
40
127
110
103
124
133
132
61
53
37
123
117
Total, adjusted
_ .
_ _ __do_ _
97
Coal.
do
135
Coke
_
. d o
135
Forest products
do
119
Grain and grain products
_
do _
58
Livestock.
do
201
Ore
_ .do
40
Merchandise, 1. c. 1
do
132
Miscellaneous
_
_ . _ do
Freight-car surplus and shortage, daily average:
85,
062
C a r surplus, total _ _ _ _ _
_ _
_ number. .
17, 637
Boxcars
_
do
56, 383
Gondolas and open hoppers
_ _ _ do
153
Car shortage, total
do
119
Boxcars
_
do
15
Gondolas and open hoppers
do
Financial operations:
Operating revenues, total
___thous. of dol_. rr 81 5, 347
661, 295
Freight
do
74, 531
Passenger
_. do
T
696, 908
Operating expenses _ _ _ _ _ _ _ _ _ _
_
do _
Tax accruals, joint facility and equipment rents
thous. of dol._ r' 40, 606
77, 833
Net railway operating income
do
Net income.
_ _ _ do_ .
72, 108
Operating results:
45, 166
Freight carried 1 mile ..
mil. of ton -miles
1.520
Revenue per ton-mile
cents _
2,770
Passengers carried 1 mile, revenue
millions.-
120
100
120
136
124
58
231
39
133
117
87
109
133
124
54
222
41
134
112
78
104
126
127
64
177
41
132
111
79
98
127
134
62
136
39
130
112
84
94
128
144
58
136
39
128
111
85
95
127
155
54
164
38
125
109
80
94
119
151
54
159
38
125
111
90
90
119
138
59
145
40
126
111
98
98
129
131
67
137
39
123
115
105
111
141
150
72
109
40
125
118
106
116
146
163
68
109
40
129
123
106
119
154
142
62
184
41
135
121
103
121
148
132
64
210
39
134
126, 957
33, 501
79, 358
366
247
20
112, 442
22, 045
78, 680
465
330
22
130, 775
21, 318
98, 605
200
181
6
136, 335
22, 908
100, 848
261
245
0
126, 845
23, 609
88, 590
393
375
15
86, 150
19, 070
56, 783
699
689
0
95, 994
11, 937
74, 775
740
716
24
81, 002
10, 688
60, 603
447
442
3
72, 134
8,923
52, 598
998
964
0
44, 922
3,402
33,041
2,854
2 405
139
29 482
1 200
20 505
2 193
2 077
25
40, 960
2,348
27, 410
244
237
0
71 087
9 568
49 286
368
341
3
749, 826
617, 122
69, 994
626, 806
722, 334
602, 716
57, 437
586, 934
802, 534
674, 217
58,546
629, 993
765, 963
637, 994
59, 645
611, 773
765, 121
638, 974
60, 395
616, 844
803, 521
666, 029
69, 271
625, 337
779, 794
642 540
72 464
618, 597
804, 767
664, 232
73 422
623, 326
781, 619
652, 951
62, 312
607, 388
804, 392
678, 755
57, 327
611, 780
793
669
57
597
015
535
515
013
798, 023
652, 902
68 954
628, 344
90, 446
32, 574
17, 594
90, 983
44, 418
21, 545
102, 912
69, 628
48, 864
94, 149
60, 041
38, 709
89, 396
58, 881
38, 659
98, 504
79 680
58, 970
90, 094
71 103
49, 365
97, 368
84 073
64,210
94, 027
80, 204
58, 329
101,737
90 875
75, 402
101,884
94 118
75 518
60,571
109 108
46, 107
1.411
2,635
43, 047
1.459
2,129
46, 190
1.509
2,191
45, 224
1.467
2,221
49, 117
1.363
2,285
47, 637
1.443
2,644
46 914
1.427
2,879
48 921
1.405
2,926
48, 175
1.402
2,406
52, 712
1.344
2,192
48 591
1 415
2 159
Waterway Traffic
Clearances, vessels in foreign trade:
7,692
8,069
Total U. S. ports
thous. of nettons__
7,684
7,707
8,830
10, 171
9,511
9,680
9,886
9,726
Foreign
do
5,431
5,657
5,373
5,268
5,893
6,645
6,659
6,626
7,113
6,861
United States
do
2,262
2,412
2,334
2,417
3,241
2,936
2,852
3,059
2,819
3,101
Panama Canal:
2,901
3,159
3,587
Total
_.
_ . . _ thous. of long tons
3,533
3,408
3 329
3 475
2 954
3 377
3 227
3 127
3 132
3 404
In United States vessels
_ _ _do
1,026
969
946
777
977
1,038
1, 031
932
1,002
'991
878
985
i.'oao
r
Revised.
fData have been revised (beginning August 1945) to include fares charged by transit companies operating in cities having a 1950 population of 25,000 or over; revisions prior to August 1952
will be shown later.
§ Data have been revised to cover intercity carriers of all types of commodities, including common carriers of general and special commodities and contract carriers. It should be noted
that the data for 1945-53 shown in BUSINESS STATISTICS (1953 edition) and in the October 1953-Deeember 1954 issues of the SURVEY are for carriers of general commodities only. Revised
data for 1945-52 will be shown later. Revisions for the first three quarters of 1953 are shown in the January 1955 SURVEY.
c? Data for January, May, July, October 1954 and January 1955 are for 5 weeks; other months, 4 weeks.
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
1953
December
February
1954
January
February
March
April
May
June
1955
July
August
Septem- October Novem- December
ber
ber
January
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION— Continued
Travel
Hotels:
Average sale per occupied room
dollars. _
Rooms occupiedpercent of total. Restaurant sales index
same month 1929= 100. Foreign travel:
U S. citizens: Arrivals
number Departures
do
Aliens: Arrivals*
do ...
Departures*
do
Passports issued
do
National parks visitors
thousands
Pullman Co.:
Revenue passenger-miles...
millions-Passenger revenues
thous. of doL.
COMMUNICATIONS
Telephone carriers: 9
Operating revenues
thous. of doL.
Station revenues
do
Tolls, message
do
Operating expenses, before taxes. .. _ . .
do
Net operating income
do
Phones in service, end of month
thousands..
Telegraph, cable, and radiotelegraph carriers:
Wire -telegraph:
Operating revenues _
thous. of dol__
Operating expenses, incl. depreciation
.do
Net operating revenues
do
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
6.75
60
231
6.96
72
242
7.04
75
247
6.75
74
232
7.43
73
251
6.71
75
277
7.25
75
267
6.91
66
237
7.66
72
248
7.55
74
253
7.71
64, 038
55, 462
43, 379
35, 332
21, 398
296
59, 348
64, 303
41,127
26, 556
29, 069
286
62, 290
68, 680
34, 617
24, 835
34, 695
364
76,011
76, 910
44, 905
30, 565
53, 990
395
72, 722
87, 138
52, 115
37, 804
58, 430
654
78, 179
91, 220
56, 280
39, 479
56, 776
1,190
92, 068
130, 168
57, 066
52, 266
53, 432
2, 472
113.018
127, 507
62, 056
46, 236
36, 707
4,127
146, 742
94, 034
64, 504
43, 530
34, 263
4,213
126, 750
73, 984
70, 574
45, 403
26, 023
2,010
88, 706
60, 498
56, 752
40, 100
21,659
1,104
50, 477
612
8,010
783
10, 278
620
8, 151
621
8,160
576
7,559
565
7,415
621
8,167
577
7,601
640
8,422
574
7.543
583
7, 647
540
7,042
410, 793
240, 455
137,870
289, 333
52, 273
43, 963
399, 014
238, 752
127, 521
271,649
50, 381
43,915
388, 373
235, 457
120, 348
264, 804
48, 323
44, 040
410, 977
241, 184
136, 479
287,136
48, 277
44, 188
408, 652
241, 991
133,437
280, 195
50, 511
44, 350
411, 182
241, 779
135, 373
279,732
51, 845
44, 514
415, 760
243, 104
138, 921
285, 347
49, 889
44, 621
414, 837
240, 459
139, 800
287, 388
61,957
44, 766
421, 562
243, 050
144, 225
286, 027
55, 790
44, 920
422, 311 '•431,443
246, 076 251, 172
141, 432 145, 088
293. 280 290, 427
52, 414
59, 615
45, 129
45, 345
431,914
252, 812
143, 034
292, 307
58, 930
45, 568
17,991
15,721
1,668
15, 795
14, 818
164
15, 255
13, 873
593
17, 525
15,074
1,628
17,089
14, 824
1,442
16, 730
15, 004
904
17, 768
15, 445
1,499
17,111
15, 803
494
18, 072
15, 555
1,741
18, 447
15, 861
1,856
18, 267
15, 552
2,023
17, 843
15,513
1,660
2,892
1,946
704
2,480
1,862
390
2, 485
1, 839
433
2,860
1,876
731
2, 635
1,898
501
2,724
1,940
539
2,848
1,999
579
2, 704
1,918
525
2,595
1,967
377
2,743
1,794
701
2,733
1,721
761
2,781
1, 853
668
2,711
2,381
226
2, 435
2,166
134
2,346
2, 069
2, 647
2,211
311
2,490
2,153
208
2,516
2,157
222
2,620
2,191
285
2,599
2. 217
248
2,557
2,179
255
2,611
2, 320
159
2, 652
2,112
426
2 672
2,249
300
222, 430
58, 435
77, 697
243, 403
59, 504
210, 938
59, 578
69, 490
244, 252
61 871
230, 098
60, 915
59, 186
260, 052
64, 482
238, 463
58, 857
46,477
250, 952
62, 998
166, 192
1,723
232, 995
167 012
1, 694
219,823
184, 188 193 343
1, 932
1,998
245, 893 * 257, 550
199 140
385, 270
144
7.76
71
250
262
6.89
59
229
73, 293
22, 000
428
25, 005
277
34, 356
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production: J
Ammonia, synthetic anhydrous (commercial)
short tons .
Calcium carbide (commercial)
do
Carbon dioxide liquid gas and solid
do
Chlorine, gas
do
Hydrochloric acid (100% HC1)
do
Lead arsenate (acid and basic)
do
Nitric acid (100% HNOs)
do
Oxygen (high puritv)
mil. of cu ft
Phosphoric acid (50% HgP 04)
___ . _ short tons
Sodium carbonate (soda ash) , ammonia-soda process
(58% Na2O)
_
.
.
short tons..
Sodium bichromate and chromate
do
Sodium hydroxide (100% NaOH)
- .. do. _
Sodium silicate, soluble silicate glass (anhydrous)
short tons
Sodium stilfate, Glauber's salt and crude salt cake
164, 122
1, 895
210, 241
209, 972
65, 321
45, 521
227, 955
62, 362
1,026
161, 134
1,908
248, 636
206, 358
53, 554
46, 564
206, 337
57, 666
1,063
1 52, 456
1, 765
234, 740
237, 535
65, 072
50, 648
234, 640
62, 396
1,084
155, 156
1, 863
264, 625
232, 246
60, 295
58, 934
231,336
61,351
1,539
148, 261
1,742
264, 979
249, 837
59, 984
65, 720
247, 890
63, 270
1,055
157, 705
1,823
263, 086
149, 383
1, 768
240, 009
211,310
54, 351
78, 407
245, 109
58, 210
0
162, 502
1,611
221, 223
378, 658
7,752
260, 651
371, 622
8, 126
267, 083
370,311
7,810
240, 529
424, 112
8, 525
278, 210
404, 856
9,294
276, 481
413, 268
9,530
287. 773
378, 233
8,968
289, 484
380, 061
7 559
291, 039
374, 831
7,049
284, 240
390, 280
7, 263
286, 262
408, 559
8, 452
299, 587
399, 961
7, 913
292, 587
43, 957
46, 608
49, 184
58, 458
49, 144
54, 730
50, 383
39, 073
39. 983
60, 910
55, 728
49, 760
73, 173
71, 468
70, 615
70, 787
64, 569
65, 409
62, 785
62 457
62 930
63 000
71, 948
71 116
200, 573
65, 49P
50, 501
227, 040
62, 914
278
216, 786
56, 544
76, 725
243, 729
60, 122
323
0)
0)
(0
r
0)
253, f>87
60, 516
259, 445
66, 372
300,604
Sulf uric acid:
1,224
1, 194
1, 108
1 092
1, 183
1 097
1, 178
1 135
1 182
1 067
1 121
1 242
Production (100% IIsSO^
thous of short tons
Price, wholesale, 66°, tanks, at works
22.35
22. 35
22.35
22. 35
22.35
22.35
22.35
22.35 p 22 35
22. 35
22.35
22.35
22 35
dol per short *~on
Organic chemicals:
Acetic acid (synthetic and natural), production
39,012
37, 113
28, 804
44, 691 r 42, 002
31, 754
30, 537
38, 979
40, 132
38, 754
41.502
36,111
thous oflb
52, 836
48, 469
50, 342
47, 823
69, 104
69, 282
53, 336
57, 415
66, 302
51, 863
51, 786
61, 777
Acetic anhydride, production
do
1,337
1, 192
1,072
1,227
922
1,213
987
1, 151
1,105
974
1,250
1, 136
\cetylsalicylic acid (aspirin) production
do
Alcohol, ethyl:
32, 594
37, 268
35, 465
36, 521
23,912
27, 112
26,312
28, 793
34, 608
33, 552
32, 850
30, 650
33, 651
Production
_ thous. of proof gal
44, 347
46, 97t>
51, 132
46, 531
47, 590
«• 54, 170
55, 777
54, 089
53, 587
57, 509
56, 552
51, 403
53,911
Stocks, total
do
24, 978
30, 779
28, 138
26, 183
25, 850
r 35, 780
33, 204
32, 887
35, 690
33, 881
36, 443
35, 996
33 636
In industrial alcohol bonded warehouses do
19,368
19, 452
20, 794
20, 353
20, 700
20, 087
20, 681
18, 390
18, 199
20, 208
21, 066
20, 556
20, 275
In denaturing plants
do .
32, 357
33, 676
26, 171
33, 664
32, 636
27, 603
29, 733
27, 880
28, 122
32, 386
29, 825
31,839
29, 956
Used for denaturation
..do
644
697
978
941
725
835
982
1,113
'959
984
923
854
755
Withdrawn tax-paid
do
Alcohol, denatured:
18, 172
14,171
18, 176
17, 574
14, 906
17,511
r 15, 152
15, 213
16, 060
17, 471
16, 106
17, 173
16, 181
Production
thous of wine gal
18, 430
17, 394
13, 332
17, 206
17, 582
16, 210
<• 17, 454
15, 678
16, 805
15, 878
16,817
17,368
17,340
Consumption (withdrawals)
-.
do
7,377
7,637
7,377
5,421
6,603
6,412
6,704
7,483
5,512
7,002
6,276
5,500
5 434
Stocks
do
9,852
15,052
15,
750
14,
792
11,206
15,417
9,752
13,151
10,
208
9,188
9,240
8, 992
Creosote oil, production
thous of gal
7,849
6,039
6,436
3,018
6,000
5,376
5,909
5,859
5,952
7, 143
6,960
6,212
Ethvl acetate (85%), production
thous. of Ib
Glycerin, refined (100% basis):
High gravity and yellow distilled;
6,804
5,013
6, 675
5,475
5,985
6,325
5,798
4,663
3,740
4,804
4,086
5,067
4,981
Production
do
6,461
5,756
6,169
5, 576
6,685
5,753
5,820
5, 922
5,630
5,460
5, 776
5, 909
5,873
Consumption.
. do
19,
084
18,
422
19,
201
17,
464
18,
294
13,
435
18,
775
17,
259
15,939
16,
791
12, 782
15, 005
11,856
Stocks
do
Chemically pure:
14, 099
14, 023
10, 196
13, 113
11,654
12, 743
11,631
11, 238
15, 142
12, 391
12,917
11,964
15 679
Production
_ . . do
9,229
8,809
9,647
9,193
8, 662
8, 706
8,718
9,531
8,418
9,279
8,966
9,499
9 271
Consumption
do
29,
259
27,
161
28,941
27,
120
27,
986
27,
689
23,
520
28,
645
17, 445
17, 889
23,011
20, 546
18 523
Stocks
do
Methanol, production:
152
170
172
184
162
151
164
169
177
160
165
163
Natural (100%) t
thous. of gal.
13, 147
14, 079
12, 459
12, 063
14, 580
13, 735
12, 896
12, 905
14, 151
15,319
12, 979
16, 464
Svnthetic (100%)
do
19,
652
18,
532
19,
215
20,
277
22, 136
23, 258
21, 409
19, 133
19, 129
20, 233
23, 004
24, 647
Phthalic anhydride, production
..-thous. oflb..
r
l
Revised.
» Preliminary.
Not available for publication.
*New series. Compiled by the 17. -S. Department of Justice, Immigration and Naturalization Service. Data relate to the arrivals and departures of aliens, by sea and by air, between ports
of the United States and noncontiguous foreign territory. These statistics do not include border crossers, seamen, military personnel, traffic between continental United States and insular
possessions, and cruise travelers. Data prior to 1953 will be shown later. (Old series covered emigrant and immigrant aliens only.)
9 Data beginning January 1954 cover 38 companies (those having an annual gross operating revenue of $1,000,000 or more). However, the smaller number of companies continues to account
for over 90 percent of the annual gross operating revenues of the industry.
televisions for 1952 (also 1951 for ammonia and hydrochloric acid) will be shown later.
SURVEY OF CURRENT BUSINESS
February 1955
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
S-25
1955
19£ 4
1953
December
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
January
CHEMICALS AND ALLIED PRODUCTS—Continued
FERTILIZERS
Consumption (10 States) 9
Exports total!
Nitrogenous materials
PbosDhate materials %
Potash materials
.tbous. of short tons....
short tons
do
_ .
_do
do
Imports total!
do
Nitrogenous materials total
do
Nitrate of soda
do
Phosphate materials!
do
Potash materials
do
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
port warehouses
dol. per short ton
Potash deliveries
short tons
Superphosphate (100% A.P.A.)cf
Production
short tons
Stocks, end of month.
__
. .
do
399
302, 268
38, 307
252, 284
7, 325
512
211,682
25. 205
180, 810
4 590
197, 702
40, 160
148, 378
6 519
1, 772
273. 388
16, 766
242, 731
10, 444
1,717
239, 183
13, 292
209, 516
10, 057
974
310, 071
6. 966
292, 538
8,526
434
262,196
21,272
227, 693
10, 716
171
306, 751
24, 293
183,504
143,369
45, 769
9 553
20, 864
238, 752
200, 085
65, 277
13 062
11.271
252, 607
207, 263
44, 464
10 909
13, 321
338, 283
259, 781
89, 083
3, 725
33, 633
338, 161
243, 103
85, 533
14, 898
38, 073
250, 103
179, 594
67, 517
20, 591
8, 079
225, 784
178. 599
98, 419
14, 157
3, 049
53. 00
125, 933
173,747
290, 794
r
1.111
53. 00
53. 00
53. 00
1 55, 388 r 196,463 '261,238
183 643
306, 774
187 4f>4
286, 325
227, 6v5fi
234, 930
r
53. 00
53.00
221, 249 r 148, 040
216. 618
185, 090
182, 637
198, 809
268, 815
10, 112
152
409, 734
39, 477
356, 048
11,358
282
364, 339
29, 881
323, 734
6, 858
111,839
76, 583
35, 666
12, 532
7,595
140. 624
93, 905
30. 550
11,610
18, 705
202, 152 ' 155, 497 196, 532
139, 914 100, 361 152 750
52, 302
37, 439
33, 725
13, 502
9, 175
8, 690
24, 381
19, 340
31, 925
53.00
53. 00
53. 00
* 80, 404 ••100,715 "124,035
165, 683
248, 229
128, 618
273, 746
144,345
287, 371
f
53.00
137, 309
153,368
274, 194
488
225, 276
32, 82(
177, 964
12,214
508
453, 853
20, 585
420, 435
9,030
v
369
51.25
150, 221
P51.25
154,317
184,713 »• 192, 554
278, 135 r 296, 259
206, 309
326, 579
51. 25
167, 285
NAVAL STORES
Rosin (gum and wood):
Production, semiannual total
drums (520 Ib.) . .
Stocks, end of period
do
Price, gum, wholesale, "WG" grade (N. Y.), bulk
doi. per 100 lb._
Turpentinc (gum and wood):
Production, semiannual total
bbl. (50 gal.)
Stocks, end of period
do
Price, gum, wholesale (N, Y.)---..--dol. per gaL.
1, 005, 880
891, 850
817, 950
828, 080
9.00
9.00
8.75
8.75
9.00
9.00
.60
.60
8.55
8.65
8.75
8.80
9 25
f 9. 25
.60
.60
327, 910
181, 710
.72
.72
.72
.72
P. 74
8. 65
.61
.61
.60
240, 580
196, 910
.60
1,027
54,621
1, 061
52, 752
1, 035
55, 303
941
54, 756
931
55, 918
786
55, 330
541
58, 489
527
55, 395
722
60, 424
754
59, 571
937
58, 619
1,083
57, 824
980
53, 594
437
3, 022
469
3,090
437
3, 170
472
3,239
445
3, 190
465
3, 193
455
3,203
472
3, 259
462
3, 289
439
3, 229
454
3,240
467
3,210
478
3,228
364, 171
128,876
264, 848
354, 916
124, 832
269, 246
309, 854
123, 883
257, 901
325, 234
133, 470
268, 342
310, 169
118,886
262, 682
304, 763
119,467
262, 393
309, 102
113,337
245, 855
307, 271
89, 573
251, 266
310, 353
127, 022
233, 363
325, 073
131, 975
224,215
355,012
127, 040
213, 063
388, 542
129, 907
223, 411
426, 037
129, 738
254, 218
49, 098
29, 540
81,970
49, 251
27, 084
83, 322
47, 667
29, 878
74, 698
46, 502
31,977
72, 430
47, 681
28, 431
64, 371
49, 641
22, 606
69, 182
46, 879
24, 157
68, 982
46, 072
19, 147
72, 512
47, 026
23, 987
72, 888
46, 746
24, 267
71, 630
49, 362
28, 429
66, 338
53, 958
27, 464
73, 142
55, 769
27, 098
75, 025
5, 296
9,302
72,711
840
9,070
68,768
371
9,171
46, 297
358
10. 697
41, 170
2, 066
13, 768
37, 253
8,317
11,047
34, 753
19, 164
11,407
44, 101
25, 903
11, 038
56, 026
13,410
10, 269
51, 260
26, 732
13, 149
65, 710
12, 514
11, 340
56, 222
596
546
595
537
545
523
542
556
475
521
429
495
382
445
366
346
380
416
440
435
599
532
579
536
551
521
1, 005
1,260
1,025
1,323
995
1, 337
985
1,323
915
1,307
793
1,223
709
1,150
629
1,086
593
1,018
575
933
599
924
••677
834
668
799
MISCELLANEOUS
Explosives (industrial), shipments:
Black blasting powder
_._thous. of Ib
High explosives. .
,
do.. _
Sulfur (native) :
Production
thous. of long tons
Stocks (producers')
do
FATS, OILS, OILSEEDS, AND BYPRODUCTS
Animal fats, greases, and oils:
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
do
Vegetable oils, oilseeds, and byproducts:
Vegetable oils, total:
Production, crude!
. .._ .mil. of Ib
Consumption, crude, factory|
-•
do
Stocks, end of month:!
Crude
do
Refined §
.
do
r
6,471
' 6, 179
' 13, 625 11,074
63, 560
* 66, 107
80, 988
72, 232
78, 866 109, 314 155,012 150, 398
Exports.
-thous. of Ib
42, 984
40, 636 120, 900 103,171
90, 075 122, 309
33, 892
39, 926
24, 502
44, 439
28, 821
43, 053
Imports, total! do
21,315
33, 291
29, 458
54, 046
43, 901
47, 032
4,402
5,731
7, 453
1,410
9,017
Paint oils
____do
1,368
2,746
3,816
3, 86s
1,058
2, 078
6,607
35, 525
28, 160
27,411
34, 036
23, 134
36, 986
41,823
18, 569
25, 642
All other vegetable oils!
.._
do
34, 423
52, 987
40, 425
Copra:
29, 949
26,871
27, 599
27, 066
24, 327
29, 646
30, 074
33,811
27, 480
23, 030
Consumption, factory
- short tons
30, 072
27, 678
25, 257
14, 877
16, 446
10,433
Stocks, end of month
do
12, 504
12, 569
15, 715
20, 446
8,181
15, 130
21, 808
27, 508
16, 053
16,133
Imports
._
do
33, 603
27, 274
31, 106
27, 726
26, 231
26, 365
34, 128
34,016
24, 558
29, 533
19, 201
24, 148
Coconut or copra oil:
Production:
38, 165
35, 294
34, 925
35, 481
38,415
Crude
thous. of lb_.
35, 863
31, 097
38, 337
29, 498
43, 159
38, 365
35, 537
33,216
32, 263
Ro
fined
.
do
30,122
23,211
32, 939
26, 569
27, 982
30, 092
37, 407
26, 618
32, 933
30, 698
27, 441
25, 685
Consumption, factory:
48, 879
35, 503
46, 730
Crude
... .
__ _
do
42, 755
57, 539
45, 419
50, 243
43, 428
46, 550
49, 276
47, 974
40, 851
41. 950
28, 659
Refined . . . . _ . . .
do
27, 072
33, 455
22, 369
20, 608
30, 309
22, 544
28, 561
27,. 788
28, 770
27, 433
22, 382
25, 021
Stocks, end of month:
44, 313
43, 216
49, 372
Crude _
_.
do
66, 970
52, 308
45, 345
52, 334
69, 403
60, 680
48, 770
52, 343
68, 733
63, 3-36
10, 950
Refined
do
10, 437
8,884
10. 625
13, 843
10, 121
16, 249
9, 314
10. 691
9, 982
10,318
11, 12!)
10, 344
9,905
9,741
7,051
15, 868
14, 648
13, 625
Imports
.
do ._
9,448
6, 709
14, 665
13, 524
16, 277
18, 019
Cottonseed:!
21
Receipts at mills
thous. of short tons
449
22
50
128
28
113
237
810
1,213
1,503
1.142
48V
718
Consumption (crush)
.
do
270
356
598
712
207
470
624
250
532
684
659
6o<;
2, 865
307
1,332
556
891
Stocks at mills, end of month.
. do
229
2, 390
1,879
428
1,140
1,959
2,442
2,321
Cottonseed cake and meal:!
340, 919 334, 973 294, 423 278, 124 219, 851 161,713 126, 729 103, 175 121,257 260, 531 330, 412 320, 340 294, 034
Production
short tons
109, 700 109, 229 146. 087 167,313 177, 739 193, 472 198, 062 203, 321 188, 910 204, 976 2 ±3, 422 251, 547 245, 510
Stocks at mills, end of month§
do
Cottonseed oil, crude:!
94, 884
Production
_ __
thous. of lb_- 232, 230 234. 465 207, 447 200, 632 161,955 124,212
77, 097
82, 890 165,418 219, 744 215,781 196, 923
54, 013
148, 742 183, 105 184, 165 184, 799 129, 705
Stocks, end of month
do
84, 728
42, 249
35, 881
70, 954 105, 742 144, 267 146, 391
Cottonseed oil, refined:
209, 548 183, 279 188, 791 197, 063 178, 107 151, 578 106, 431
Production!
.
do
78, 738
82, 186 108,518 161,362 161, 193 157, 68"
135, 286 131,421 141,894 167, 032 176, 259 174, 462 139, 760 108, 802 147,206 154, 430 113, I3u 156, 937 146, 16"
Consumption, factory!
do
30, 952
27, 384
38, 165, 38,1131 33, 425
34, 600
35,314
In margarine!
do
24, 141
2d, 253
38, 980
33, 553
29, 997
33, 557
1,175!
1, 109
1,153
Stocks, end of month§!
mil of Ib
996
1, 069
1,178
1,155|
954
888
817
825
713
66*
r
.
206
.203!
.
193
.213
.213
. 201
Price, wholesale, drums (N. Y.)
dol. per Ib
.224
. 219
.224
.215
.2101
. 203
*. 205
r
Revised.
» Preliminary.
9 States represented are: North Carolina, South Car olina, Ge orgia, Flo rida, A lab ama, Ten nessee, Ai kansas, L ouisiana, Texas, 01dahoma, Accordii t? to quar terly repc rts from Virginia,
consumption in that State is as follows (thous. short toris): 1953--January- March, 31 9; April-J une, 322; July-Sep tember, 7l); Octobe •-Decemb er, 80; 19 >4 — Janua ry-Mareb , 305; April-Jum.-,
315; July-September, 78; Octobcr-i.ee mber, 81.
{Revisions for 1952 will be shown later.
c?A. P. A. (available phosphoric acid).
§ Includes siocks owned by the Commodity Credit Corporati on (begin ning J anu ary 1952 1or refined oil and fr orn May 1953 throiigh June : 954 for ca ke and UK,al).
SURVEY OF CURRENT BUSINESS
S-26
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
IS 54
1953
December
February
January
February
March
April
May
I>
\njrnsf j1 SepternOctober N'ovt-mAugust
ber
ber
j ber
b
July
June
CHEMICALS AND ALLIED PRODUCTS—Continued
FATS, OILS, ETC,— Continued
Vegetable oils, oilseeds, and byproducts — Con.
Flaxseed:
Production (crop estimate)
thous. of b u _ _
Oil mills:
Consumption
do
Stocks, end of month
- -do
Price, wholesale, No. 1 (Mimieapolis)_dol. per bu_.
Linseed oil, raw:
Production
thous. o f l b
Consumption, factory
do
Stocks at factory, end of monthc?
do
Price wholesale (TVTinne&po''s)
do! per Ib
Soybeans:
Production (crop estimate)
thoti 55 . of bu
Consumption factory
do
Stocks, end of month
do
Soybean oil:
Production:
Crude
thous. oflb..
Refined
do
Consumption, factory, refinedcT
do
Stocks, end of montli:
Crude 1
do
Refinedr?
do
Price, wholesale, refined (X. V.)
dol. per l b _ _
Margarine:
Product ion d*1
..thous. of lb_
Stocks (factory and warehouse)^
do
Price, wholesale, vegetable, colored, delivered
(eastern U S )
dol. per Ib
Shortening:
Production
thous. of Ib
Stocks, end of month
do
;
i 36, 668
2, 946
4, 467
4. 02
2, 687
4, 173
4.00
2, 519
3. 183
3.89
2. 26(5
57,83!
52, 087
42! 280
50, 439
36. 434
521 , 297
.153
481,025
32,012
41, 534
2, 596
1, 782
3.63
3, 545
1.946
3.47
4,058
3, 575
2,988
2,718
3.41
4,009
3.39
6, 085
3.37
44, 293
39, 263
50, 223
41, 176
231, 572
.160
69, 697
79, 719
43,111
53,989
218, 100
. 160
224, 903
.152
68, 821
41, 254
195, 183
.145
214,023
14, 795
11,140
21,735
37,312
22. 197
50, 740
21,181
9,218
2,079
3.93
44, 419
36. 362
466, 099
.145
38, 784
37, 349
438, 266
.141
40, 343
35, 141
375, 137
.142
331,862
596
3.99
2
2, 248
1,179
3.88
1,954
1,359
3.92
2,323
i
2. 752
5. 292
3. 38
58, 487
44, 051
54, 165
39, 680
186, 697
P. 127
. 148
464, 289
.140
20, 778
54, 485
18, 873
56, 948
19,252
58,53!
17,649
43, 209
17, 546
33. 454
15, 437
24, 598
15,361
52, 297
15, 321
4,894
226, 320
180, 481
228, 433
208, 706
186, 529
213, 372
188, 570
166.116
171,296
169,920
125,318
148,712
169,341
235, 894
198, 863
200, 722
239, 625
183.214
194,526
180,911
181.253
204, 223
227, 765
204, 180
196, 475
132, 221
78, 743
.209
117,683
73, 503
53, 722
.203
91, 115
54, 679
.203
96, 887
59, 988
.192
110 120
66, 755
v . 195
87, 339
22, 810
105. 344
23, 762
118,051
117,979
23,615
134, 717
19. 952
116,346
!
268, 528
20, 758
.153
.135
2
193,327
171,614
173, 189
186, 097
182, 924
175, 831
187, 113
180,938
127,217
146,845
140,958
142,208
127, 599
98, 466
.194
98, 429
.204
103,331
114,142
96,919
124. 242
116,538
26,516
118,586
21,219
102,844
23, 867
174,446
191,788
174,010
122,021
142,947
82 193
.197
99, 466
.192
138, 111
95, 000
. 185
107,293
21,779
131,959
23. 393
.283
.283
139, 943
93, 926
132, 504
92, 000
92, 557
40. 217
52 340
. 204
25, 462
. 273
.273
.283
155, 909
93, 443
178,279
180, 323
88, 576
83,881
177, 934
96, 309
104,632
100,013
117,808
39, 915
60, 098
46 792
124, 629
46, 778
77, 851
123,071
39, 877
64, 755
3, 483
6, 226
631
486
2,747
2, 816
5, 168
598
486
3,301
6, 257
662
524
2, 716
30,265
30, 842
30, 941
17, 646
40, 636
28, 475
9,661
24, 535
29, 987
33, 376
35, 421
37, 252
19, 958
46, 303
32, 796
10, 855
26, 381
. 273
. 209
90, 334
24, 643
. 283
78, 679
. 213
19, 824
210,262
T
. 267
342 795
44, 613
27, 27 9
v . 274
.283
.283
.283
151,717
115,786
112,336
160, 463
98, 826
104,414
164, 422
96, 260
182, 323
108, 083
186, 148
106, 657
178. 888
122, 760
131, 926
46, 531
85, 395
118,024
121,584
45, 275
77. 796
41, 182
76. 842
45, 042
76, 542
114,934
107, 498
43, 390
64, 108
103, 132
43, 448
93, 884
41, 950
2,812
5, 370
483
401
3, 323
6, 416
431
430
1,894
5, 193
271
371
2, 962
7,134
366
548
3 430
3 074
7, 520
332
416
3. 096
32, 805
35, 039
18, 630
42, 163
30, 152
12, 138
25, 500
29, 592
33, 250
18, 174
21,680
28, 086
13, 371
36, 486
22, 004
9. 760
22, 342
28, 824
31, 808
18, 073
34, 341
27, 540
9, 396
26, 581
33, 519
37, 352
19, 588
44, 389
27,411
33, 057
39, 196
21, 132
48, 970
27, 943
9, 767
27. 773
32. 671
32, 893
36, 495
21, 281
46, 532
28 489
10. 263
33, 196
. 270
PAINTS, VARNISH, AND LACQUER §
Factory shipments, total
Industrial sales
Trade sales
thous. of clol
do
do
SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:
Cellulose acetate and mixed ester plastics:
Sheets, rods, and tubes
thous. of Ib. .
Mold i n c and extrusion materials
do
Nitrocellulose, sheets, rods, and tubes .
do
Other cellulose plastics _
do
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
_
25, 908
16, 955
37, 357
30, 673
9, 543
26, 099
5, 367
563
412
19,148
39, 810
28, 587
11,215
25, 134
71,016
6,478
554
428
31, 567
36,889
17,892
43, 413
31,055
11,473
25, 448
43,814
31, 988
10,344
23, 722
42, 925
72, 009
7,840
362
586
9,702
59,684
51,934
7.350
300
508
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total I
mil. of kw.-hr._
Electric utilities, total
do
By fuels
_.
_ . . _ . __do ....
By water power
do .
Privately and publicly owned utilities
do
Other producers
do
Industrial establishments, total
- _do..
Bv fuels
do
By water power
_
_ . _ do . ..
Sales to ultimate customers, total (Edison Electric
Institute) J
mil. of kw.-hr
Commercial and industrial:
Small light and power
- . . do . .
Large light and power
do
45, 118
39, 083
30, 404
8,679
33, 497
5, 587
45, 478
39, 423
30, 524
8,899
33, 227
6, 196
40, 887
35,211
26, 647
8,564
29, 478
5,733
45, 166
38, 918
28, 998
9,921
32, 719
6,199
42, 857
36, 835
26, 925
9,910
30, 913
5,923
43, 529
37, 429
27, 079
10, 350
31,007
6,422
44, 975
38, 901
29,315
9,586
32, 535
6.366
45, 969
40, 077
31,319
8, 759
33, 279
6,798
47, 196
41,167
32, 825
8,342
34, 274
6 893
45, 529
39, 547
31,743
7,805
32 978
6 569
46, 709
40, 456
32, 624
7,832
33, 989
6 467
46, 464
40, 217
32, 101
8,116
33, 889
6 329
49, 887
43, 427
34, 379
9,048
36 284
7 142
6, 035
5, 668
36(5
6, 055
5,664
391
5,676
5, 291
385
6, 247
5, 781
467
6,021
5, 573
448
6,100
5, 672
427
6,074
5. 681
393
5,892
5,556
335
6, 030
5, 709
321
5,981
5 678
303
6, 253
5,922
331
6,247
5,876
371
6,460
6 040
4^1
33, 040
34, 235
33, 112
33, 032
32, 885
32, 483
33, 119
33, 845
35, 045
35,149
35, 108
35, 392
5,927
15, 765
6, 104
15,668
5, 902
15, 294
5, 794
15, 734
5, 802
15,865
5, 805
16, 075
6,119
16, 440
6,626
16,167
6,795
16, 920
6, 786
16,996
6,503
17, 385
6,264
17, 571
399
459
439
445
Railways and railroads
do
345
397
374
354
344
359
386
346
9 239
9,719
9,104
8, 425
8,942
8,321
8,163
Residential or domestic
. . ._ . .
do
10, 163
8,588
8, 723
8,740
9,200
584
612
663
756
818
945
Rural (distinct rural rates)
do
606
1 170
1,236
894
720
1 118
Street and highway lighting _
do. _ .
395
282
342
311
394
352
273
290
364
389
305
328
768
Other public authorities
_
do...
778
787
769
773
747
792
797
763
798
807
813
Interdepartmental
- do. __
43
47
49
48
57
57
53
53
56
55
49
57
Revenue from sales to ultimate customers (Edison
Electric Institute) i
thous. of dol . 589, 705 611,624 596, 954 589, 223 585, 598 579, 131 587, 473 603, 767 616, 706 620, 917 618, 364 620, 306
r
l
2
Revised.
*> Preliminary.
Revised estimate for 1953.
December 1 estimate of 1954 crop.
d" Revisions for 1952 for linseed oil and soybean oil and for September 1951-September 1952 for margarine will be shown later.
§Revisions for 1952 appear in the September 1953 SURVEY; those for 1951 will be shown later.
^Revisions for 1952 for electric-power production are shown in the October 1953 SURVEY; those for electric-power sales and revenues, in the October and November 1953 issues.
3. 35
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
1953
December
S-27
1955
1<)54
January
February
March
April
May
June
July
August
Septem- October] NO^- December
ber
Janu-
ary
ELECTRIC POWER AND GAS—Continued
GAS
Manufactured and mixed gas (quarterly) :d*
Customers, end of quarter, total
thousands. _
Residential (incl house-heating)
do
Industrial and commercial
do
Sales to consumers total
mil of therms
Residential
do
Industrial and commercial
do
Revenue from sales to consumers, total thous. of dol- Residential (incl house-heating)
do
Industrial and commercial
do
Natural gas (quarterly) :cf
Customers, end of quarter, total
thousands-Residential (incl house-heating)
do
Industrial and commercial
do
Sales to consumer^ total
mil of therms
Residential (incl house-heating)
do
Industrial and commercial
do
Kevenue from sales to consumers, total- _ thous. of doL.
Residential (incl house-heating)
do
Industrial and commercial
do
5 996
5, 557
436
1. 123
794
320
149, 015
111,429
36, 718
6, 076
5, 629
445
757
466
281
108, 476
77, 476
30, 261
20, 893
19, 229
1,640
14,045
4,097
8,916
598, 256
327, 363
251, 199
5,876
5, 447
427
808
502
299
109, 536
78, 500
30, 400
21, 183
19, 462
1, 696
17, 940
7,688
9,599
884. 848
1 564, 400!
304, 253
i
5,831
5,408
421
536
280
252
77, 386
52 728
24, 239
21, 220
19, 546
1,648
13, 198
3,755
8 873
575, 082
314, 607
246, 605 .
21 344
19, 707
1 611
11 237
1 577
8 989
410 366
166, 266
328, 550
j
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
5,954
Production
..
_ _ . _. .. -thous. of bbl
6, 176
Tax-paid withdrawals
do
9,223
Stocks, end of month _ _ . _ _
. do
Distilled spirits:
T
16,630
Production
thous. of tax gal
Consumption, apparent, for beverage purposes
r
22, 805
thous. of wine gal
10, 474
Tax-paid withdrawals
thous. of tax gal_' 859, 292
Stocks, end of month _ _.
do
2,207
Imports
thous of proof gal
Whisky:
'
9, 270
Production..
.
_ thous. of tax gal
5,981
Tax-paid withdrawals
do
r
716, 438
Stocks, e n d o f month _ _ _ _ _
. _
do
1, 990
Imports
thous. of proof gal
Rectified spirits and wines, production, total § }
6, 885
thous. of proof gal _
5, 850
Whisky.
do
Wines and distilling materials:
Sparkling wines:
81
Production }
thous. of wine gal
198
Tax-paid withdraw als}___
_ _
_
do
1,052
Stocks, end of month J
do
121
Imports
- _
do
Still wines:
4,148
Production J
do
12, 966
Tax-paid withdraw alst-__ _ _
do
202, 631
Stocks, end of month J
do
707
Imports - _ _
_
-_ _ _
.
do
4,971
Distilling materials produced at wineriest-. do
DAIRY PRODUCTS
Butter, creamery:
Production (factory) | . .
_ thous. of Ib 108, 240
Stocks, cold storage, end of month
_
do
281, 702
.666
Price, wholesale, 92-score (New York)__dol. per lb_.
Cheese:
91, 175
Production (factory), totalj
thous o f l b
American, whole milk}
do
63, 225
432, 008
Stocks, cold storage, end of month, total.. _
do
American, whole milk__
do
401, 168
Imports
_
do
5,860
Price, wholesale, American, single daisies (Chi.415
cago)--, _ _ _ _ _ _
dol p e r Ib
Condensed and evaporated milk:
Production, case goods:!
Condensed (sweetened)
thous. of l b _ 1,800
Evaporated (unsweetened)
_ _ _
do
155, 700
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened)
thous. of Ib
4,897
262, 913
E vapora ted (unsweetened)
_
do
Exports:
Condensed (sweetened)
_
.
do
747
E vaporated (unsweetened)
do
6,119
Price, wholesale, U. S. average:
5.82
Evaporated (unsweetened) __
dol. per case
Fluid milk:
Production}
mil. of lb__
8,907
3,505
Utilization in mfd. dairy products
do
Price, dealers', standard grade
dol. per 100 lb_
5.18
Dry milk:
Production:}
Dry whole milk
thous. oflb..
7,970
Nonfat dry milk solids (human food)
do
94, 250
Stocks, manufacturers', end of month:
Dry whole milk
do
10, 220
Xonfat dry milk solids (human food)
do
74, 094
Exports:
Dry whole milk
do
4,067
Nonfat dry milk solids (human food)
do
19, 237
Price, wholesale, nonfat dry milk solids (human
food), U. S. average
dol. per l b _ _
.153
9, 302
8,886
11,658
8,370
8,112
11. 391
6, 986
7 138
10, 779
6, 176
6, 475
10, 074
9, 523
8,747
15 787
13, 780
9,604
863, 5-53
1,389
13, 753
9, 805
861, 034
1 496
15,803
13, 487
854 556
2 006
5, 741
4,129
721, 020
1,288
5, 057
4 898
719, 114
1 316
7,091
6 126
5, 457
4,825
223
95
1,418
44
186
112
1,478
41
1 403
10 443
159 755
582
486
1 112
9 841
150 766
494
593
] 42, 295
346, 542
.651
141, 305
375, 584
.583
97, 190
70, 810
424, 657
396, 344
3,162
115 555
86, 575
450, 299
426, 049
4 163
.403
.393
2,350
163, 600
8,556
7,239
11,541
9,547
8, 646
11,846
14,636
13.876
13 905
14,519
12,029
864.016
1 694
15,365
11,853
864, 004
1.520
14,975
12, 143
864, 343
1 761
10,029
6, 272
718, 516
1,395
9, 802
5 998
718, 726
1 551
9, 579
5,748
719,567
1,388
9, 139
5 732
720, 713
1 616
5, 745
4, 834
7, 400
6, 349
6, 605
5 823
6,851
5 996
99
84
1, 060
27
233
69
1,217
23
147
81
1.272
28
109
74
1,297
44
1,398
9,120
193, 413
313
1,670
1, 286
10, 038
179 769
322
1, 556
1 477
12,353
170 754
404
2, 128
118,465
294, 047
.659
115,910
304, 233
.658
98, 735
72, 135
427, 464
397, 990
2,233
5,797
5, 162
9, 498
5, 909
5, 434
9, 605
7,918
6, 607
10, 406
7,949
7,011
10, 680
13, 120
14, 405
16,387
12,528
8, 650
861,381
1,336
12,671
10, 156
862,917
1,456
15,736
12, 718
864, 231
1,529
8.301
4,878
717,441
1,218
9, 020
5,315
718,413
1, 328
5,533
4,634
5. 638
6, 142
9. 506
6, 486
6,440
9, 162
26 958
21, 586
16 024
17 792
15,722
848, 142
2 344
19.530
15, 883
844,415
3 151
10. 667
845 603
6 355
7 2Q2
71o' 191
1 834
9, 263
8 610
712,017
2 123
11
8
710
2
578
907
071
891
10 ?8f
6 022
711 854
5, 304
4 506
7,852
6 957
10,036
8 910
9,821
8 868
6,224
5 500
59
67
1,458
29
117
97
1,449
35
4(*
1 59
1, 335
53
85
158
1 259
79
118
192
1 175
108
891
10 469
140 525
459
5,501
936
9,072
130 885
332
1. 590
3 398
9*873
193 334
364
9.020
26 985
11 H<)9
139 987
424
61 , 975
65 505
12 299
195 813
544
119,756
20 795
12* 726
902* 620
792
40, 197
163 815
421, 997
.577
159 755
468, 453
.575
129, 615
503, 921
.578
108 990
508 476
.579
92 555
488 618
.595
87 60C
463' 183
.600
r
86 835
423 347
.601
96 975
377 638
.608
126 930
97 400
487, 209
480 566
4 851
156 480
123 090
521, 763
494 770
4 236
153 645
122' 345
567, 541
538 051
4 510
126 885
99, 425
607, 993
572, 290
2 562
111 800
85 770
613 238
578 765
2' 934
93 405
68 775
613' 146
580 089
4 972
S7 200
61 540
595? 953
564 533
4 558
r
82
r
89
61
546
577
.383
375
370
369
.371
379
376
379
378
374
1,875
156, 900
2,150
194 900
2,480
243 100
1,675
316 000
1,775
310 500
1,975
266 000
2, 500
239 500
1,930
188 000
2,175
158 750
1,560
151 250
2, 030
1 54 500
4,753
192, 760
4,784
127, 681
4,997
102, 638
5,353
127, 497
5 242
231 456
5 010
320 487
4,723
381 177
5 139
410 379
4 762
410 168
5 113
355 473
4 934
290 624
3 773
9Q5 519
46
8,215
62
13, 228
56
11,397
77
8,901
96
12,312
22
14, 773
89
13, 120
27
10,488
164
11,923
267
10, 526
453
8,307
r
530
57' 180
579' 933
549 511
6 664
. 583
370
150
251
264
3iji)
5.76
5.73
5.69
5.44
5.39
5.45
5.50
5 54
5 56
5 56
5 56
9,172
3,796
5.11
8,980
3, 711
5.03
10, 713
4 514
4.96
11, 345
4 746
4.76
13, 178
5 658
4.62
12, 663
5 534
4.58
11, 625
4 542
4.72
10, 494
3 904
4.82
9,391
3 272
4.96
9,002
3 044
5.01
8,400
2 960
5.03
8,833
9, 100
5.03
4.~99
6,360
103, 350
6,165
102, 300
6,175
131, 650
10, 525
138, 350
10, 925
164, 750
10, 560
153, 000
8,440
110,950
7,350
83, 250
6,800
65, 775
6,640
66, 250
6,100
65, 350
7,100
84, 800
9,602
81, 056
8,510
88, 377
7,629
85, 449
8,692
83, 435
10 397
105, 792
11 956
111,482
12 910
92, 152
10 781
71, 782
9 624
54,329
8 415
44, 413
8 615
43, 012
8 245
51, 234
1,584
18, 685
2,671
15, 802
2,826
20, 107
4,906
4,655
5 729
16, 896
4 322
31, 787
4 286
8,080
4 178
4,782
3 724
10, 445
2 821
5, 354
2 243
6,054
q 940
.152
.151
.146
.149
.143
.142
.145
.151
.154
.153
.154
.155
Revised.
cf Revisions for 1952 appear in the October 1953 SURVEY; those for the 1st and 2d quarters of 1953 are available upon request
§Data beginning July 1953 exclude production of wines and vermouth; for July 1952-June 1953 such production totaled 88,000 gallons
^Revisions for July 1952-March 1953 for rectified spirits, etc., and wines and distilling materials appear in the June 1954 SURVEY; those for January-December 1952 for fluid milk production in the March 1954 issue. Revisions prior to December 1952 are available upon request as follows: Beginnng 1951 for cheese, condensed milk, and nonfat dry milk solids; beginning 1952
tor butter, evaporated milk, and dry whole milk.
r
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
1953
December
February 10.rM
19 54
January
February
March
April
June
May
July
August
Se
gjm-| October
Novem- Dec
ber
FOODSTUFFS AND TOBACCO—Continued
i
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
Shipments, carlot
Stocks, cold storage, end of month
3
thous. of bu._
no. of carloads..
thous, of b u _ _
i 93. 073
2. 796
19,894
14'. 943
2. 119
10, 679!
3 061
6. 095
2 394
3, 267
1,899
1, 302
848 j
440
490
162
197
245
806
6, 959
3,331,
2,755
30. 890!
30, 995
Citrus fruits, carlot shipments
_ _ _ _ n o . of carloads..
Frozen fruits, juices, and vegetables:
Stocks, cold storage, end of month:
Fruits p
thous. of lb..
Fruit
jui es
do
7
12, 595
10,145
9. 27C
10,655
11,202
11,411
9.121
6,591
4,736
4, 321
4. 905
7, 221
356, 338
212,105
704, 58"
3?8, 040
265, 552
030, 2CJ
293,585; 253,404 210,331
342.041; 352.552: 408.680
562.581 510.944i 469. 050
199 389
503, 172
444, 834
221.658
336, 630
458, 007
492, 594
374, 543
399, 410
602, 309
399, 606
338, 537
698, 084
413, 657
500 819
443. 724
380, 075
15 453
90 40?
18 870 I
93 Q9A
19, 630
20, 528
21.046
12, 562
11,893
14, 425
15. 618
3. 050
2.981
2.981
3. 081
3. 500
3.981
3. 375
4.054
4,835
3. 089
3, 400
\ po-p£^j-)]f>t;
(\()
Potatoes, white:
Production (crop estimate)
thous. o f b u .
1
Price, wholesale, U. S. No. 1 (New York)
dol. per lOOlb...
411,550
8 860
Rice:
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 lb.
Southern States (Ark., La., Tenn. , Tex.):
Receipts, rough, at mills..
thous. of lb...
Shipments from mills, milled rice
do. ._
Stocks, domestic, rough and cleaned (cleaned
basis) end of month
mil of lb
Exports
thous of lb
Price, wholesale, head, clean (N. O.)__dol. per l b _ _
Rye:
Production (crop estimate)
thous of bu
Receipts, principal markets
. . .
. do. _
Stocks, commercial, domestic, end of month. . _do
Price, wholesale, No. 2 (Minneapolis) ...dol. per bu. .
374,187
294,319! 253,837
709.915 689,266
249, 118
636, 425
12,543 ''13,985
r
3, 663
17,770
* 3. 695
19, 859
24. 986
23, 477
30. 062
32, 625
27, 764-
31, 276
24, 310
21. 841 1
29,462
29. 395
8,613
12.386
8, 566
7, 594
6, 531
7. 685
8, 238
28, 856
17,168|
14,376
15, 140
7,119
6. 500
20, 050
26. 946
872
5,076
23, 495
r 226 695
2,791
1,809
24, 258
846
9,121
34 945
2, 702
11, 932
422
8, 923
74. 913
526
3,214
3, 160
1 . 509
1,441
1 . 483
1 . 374
1.505
1.396
1.518
1.456
1 . 490
1.375
1.456
1.323
1.397
1.290
1.429
1.328
1.454
1. 378
1. 456
1.364
10, 232
25. 032
1 1 , 466
24, 741
11,127
10,263
25,835
10,326
25,151
10, 041
24, 105
10, 609
29, 369
10, 918
21 , 352
12, 163
22, 798
21,371
12, 102
53, 835
35. 338
33, 793
21,704
16.984
15,945
12, 866
14, 831
18, 052
20, 560
50, 873
do
do
1 0, 277
r
1,468.8
s
2 370 1 20
10, 070
27, 51 7
165 805
1 . 420
1. 290
129, 132
79, 990
125, 900
1. 524
1.448
7,101
980.1
5, 098
5,096
6,912
3,629
4,977
3,853
1 . 553
1.495
i.rao
1 . 502
1.571
1.504
1. 585
1. 532
1.610
1.577
1.614
1.581
1.652
1.610
1.639
1.601
1.540
1.522
1.481
1.462
1. 52?
1. 450
4, 660
4, 886
4,602
5, 818
7,241
16, 842
25, 750
10, 638
7, 231
7,840
2 1, 500
10,510
12, 704
13, 406
8, 648
450, 335
363
.781
4, 750
4,600
4,872
11,729
24, 900
19,992
20, 448
118
.770
s 204, 050
209
.763
20, 05f
922, 637
227
.792
217
.708
26, 278
26, 377
1, 182 323 """""348
345
"272
,786
.758
.721
779
.851
.839
.814
192
.788
r 3 359.
135, 181
104. 782
118,669
84,516
61,873
78, 605
66, 150
48, 757
52, 410
36, 159
36, 656
29, 573
3
197, 656
62 941
98, 056
821.8
112; 973
.074
1,071.8
1,049.6
987. 9
42, 229
.086
361.3
74, 435
.075
98, 694
.083
61 983
.094
P. 094
1,006
11. 708
1.250
12,115
1,310
853
12, 047
1.428
1,042
12, 161
1. 370
11,662
1, 108
2 23, 688
921
10, 940
1. 300
243, 252
169, 918
161,955
124,217
102, 436
48, 217
118, 490
859. 7
189, 258
.094
770.2
654. 6
390.6
327.3
272.0
99, 510
.090
47, 048
.085
921
1,684
8, 445
1.061
292
1.287
1.313
433
10, 309
1. 249
231
9,811
1.151
667
8,953
8,782
1. 116
1.101
20, 883
22, 028
205, 514
19, 660
26, 953
368, 888 ' 366, 01 7
354, 795
348, 139
339, 201
20, 715
1,111.6
311,573
303, 727
298, 934
295, 060
291, 191
16. 327
13. 824
14, 877
11,677
1.275
60. 332
228, 884
105, 576
54, 867
349, 007
3 902. 7
296, 715
379, 215
365, 038
394, 609
414, 580
3331,619
379 630
104, 778
297, 873
12, 397
9,613
3
24, 535
21, 524
1 9, 755
16, 752
20, 888
17, 370
r
r
1.321
47, 508
195., 401
29, 456
22, 438
335, 421
1 676 6
422, 772
329, 515
337, 675
413, 494
387, 159
r
.
15,317
12, 325
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
2. 643
2. 578
2.642
2. 602
2. 620
2. 669
2.577
2.576
2. 601
dol. per bu..
2.352
2.324
2.153
2.370
2.379
2. 393
2.417
2.447
2. 375
No. 2, hard winter (Kansas City)-.
. . do
2.101
2. 105
1.967
1.852
2. 210
2. 194
2. 226
2.327
2. 051
No. 2. red winter (St. Louis)
do
2.358
2. 545
2. 544
2.293
2.537
2.589
2.578
2, 570
2. 596
Weighted avg. , 6 markets, all grades
do
r
2
Revised.
*> Preliminary.
i Revised estimate for 1953.
December 1 estimate of 1954 crop.
s
Old. crop only; new grain not reported until beginning of new crop year (July for barley, oats, and wheat; October for corn).
9 Bags of 100 lb.; prior to the October 1953 SVRVEV, data were shown in thous. of bu. of 45 lb.
d"The total includes wheat owned by the Commodity Credit Corporation and stored oil farms in its own steel and wooden bins; such data are
2 969. 8
2 1 79. 0
2 790. 7
25, 923
216, 820
r
1,296
8,984
1.420
28,032
354 877 357, 151
1 460.2
374,368 ~~366~942
493 "OC
145. 122
315,68?
539 152
r
158 981
* 429 472
s 63, 829
s 99, 810
20, 768
17, 249
109, 027
117,630
35, 968
51,924
11,002
31, 945
28, 489
96, 857
43, 304
37, 382
11,028
13, 287
85,457
33, 125
173, 728
121, 645
47, 454
.093
7,676
58 853
93, 881
29, 233
66, 674
54, 741
36, 832
100, 069
162,158
28, 807
145, 678
36, 349
721,412
59, 246
84, 161
200, 503
.093
10, 373
11, 861
55, 934
133,848
573. 7
88, 483
.090
11,471
447, 848 1,113,665
172,842 216, 034
65, 802
13, 262
9, 679
62, 809
8,221
171,225
i 18, 163
1,713
27, 831
7,712
86, 161
207, 046
.094
30, 975
8, 045
180, 844
204, 667
1,000.7
1.441
1.350
60 218
2, 070. 2
2
149,459
16, 321
27, 141
2 o Of; 5
11 670
52 607
Wheat:
i 1, 169. 5
Production (crop estimate) total
mil o f b u
r
i 287. r
Spring wheat
do
» 881. 6
Winter wheat
do
18, 403
Receipts, principal markets . _
thous. of bu
209. 412
Disappearance
do
Stocks, end of month:
Canada (Canadian wheat) .
. .. . do _ r 377, 855
United States, domestic, totalcf
niil. of b u _ _ 1 332- f
316, 765
Cornrnercial
thous. of bu .
Interior mills, elevators, and warehouses
thous. o f b u . . 424, 292
Merchant mills
_ _
do ... 123, 467
' 423.068
On farms
do
9, 342
|
Stocks, domestic, end of month:
12. (159
11,085
Commercial
_
do
r
108. 490
On farms
do
951
416
Exports, including malt
do
Prices, wholesale (Minneapolis):
1.520
1.513
No 2 malting
dol r>er bu
1.436
1.474
No. 3, straight
_
do
Corn :
i 3,192
Production (crop estimate)
mil of bu
10, 240
10 021
Grin dings wet process
thous of bu
18,424
21,389
Receipts, principal markets
do
Stocks, domestic, end of month:
38. 221
43,1 OP
Commercial
do
r'2 144. 3
On farms
__
. mil. of bu
10, 808
6, 860
Exports, including meal
thous. of b u _ _
Prices, wholesale:
1.563
1.553
No. 3, yellow (Chicago)
dol. perbu._
1.530
1. 521
Weighted average, 5 markets, all grades .
do
Oats:
i 1, 209
Production
(crop
escim
ate)
mil
o
f
b
u
4,542
8, 131
Receipt" 5 , principal markets
thous. of b u _ _
Stocks,
domestic, end of month:
18,295
15,066
ComTT>ereial
do
'773.516
On forms
do
462 " 186
Export^, in clu diner oatmeal
do
.814
.794
Price, wholesale, No. 3, white (Chicago) dol. per bu_.
flour
VI 1,549
2,207
2 355 099
GRAIN AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal
25, 483
thous. of bu._
Barley:
Production (crop estimate)
_ _ _ _ _ _ _ _ .do. _, i 242, 544
Exports, total, including
Wheat only
2 103 773
' 2, 3S5 "
24, SS7
15, 075
12, 074
20, 924
17, 082
21 603
17, 527
2. 695
2.747
2.389
2.162
2.411
2.147
2.708
2.439
2. 26f>
2.659
2.678
2. 672
2. 759
2. 465
2.280
2.646
2 729
2^443
2.338
2. 635
not included in the breakdown of stocks.
SURVEY OF CURRENT BUSINESS
ij,h i9?)2 anil
I nlcv-,s otherWJ-.0 . tated,
statistics throu^
descriptive i < fs nr*1 shown ia the 19"«33 Statistical
Suiplement to iiie Jurvey
195.3
December
S-29
1954
ary
Febru! ary
March
April
May
June
1955
July
January
October N c v e m - J D
August September
FOODSTUFFS AND TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Continued
Wheat flour:
Production:
Flour
thous. of .sacks (lOUlb.)-O per'i tiori':; percent of capacity
O'T'il
short tons
O rindrgs o f wheat
thous. of bu
Stocks held by mills, end of quarter
thous o i' ^iif'ks (1 00 Ib )
Exports
do -_
18,35,5
77. 7
366, 297
42, 571
IS, 962
88 P>
380,153
43, 971
17,361
81 7
344,611
40, 222
18,871
77 0
376, 594
43, 729
17,217
73 5
339, 250
39, 874
16,685
74 9
327, 804
38, 582
18,041
77.4
363, 478
41,913
18, 022
77.2
361, 956
41, 902
IS, 786
80. 4
380, 751
43, 752
19, 733
88.2
397, 086
45, 846
19, 688
88.0
397,719
45, 805
19.216
85. 9
387, 185
44, 656
4, 476
1,538
1,195
1,074
4, 470
1,373
1,510
1,292
4 046
1,289
1, 510
1, 284
5 232
1,288
1, 649
1,749
Spring, short patents (Minneapolis)
dol. per sack (100 lb.)~
YVInter, hard, short patents (Kansas City). -do
6. 355
5. 935
6. 335
6. 060
6.390
6. 095
6. 355
6. 055
6. 400
6. 035
6.510
6. 135
6. 765
6. 145
6,960
6. 050
6. 685
5. 995
6.830
8. 175
6.925
6. 295
•• 6. 940
«• 6. 235
P6.910
v 6. 320
634
1,653
2,342
286
546
1 , 541
2, 245
206
518
1,302
1,844
184
660
1,511
2,320
220
598
1,417
2, 040
217
561
1,439
2,165
181
622
1,570
2, 309
130
640
1,622
2,296
174
649
1,635
2,736
314
706
1,638
2,878
540
738
1,616
2, 993
939
694
1, 602
2,980
815
639
1,583
2,177
355
23. 65
17.63
22.50
23. 93
19.83
27. 00
22. 96
20. 02
28. 00
22. 88
19.81
26. 00
23.77
20. 62
26. 00
23. 54
20.44
23. 00
23. 49
18.20
21.00
23. 47
16.12
20.00
23.71
17.88
21.75
25.00
18.10
22.00
25.42
18.84
22.50
26. 11
19.63
20.00
26. 21
19. 23
P21.00
5,194
2, 721
4,712
2, 503
3, 883
2,098
4, 554
2, 450
3,853
2,068
3, 380
1,909
3,453
1,991
3,325
1,896
3, 852
2, 251
4,743
2,496
5,178
2,746
5, 841
3, 308
6,119
3, 315
23.69
24. 82
25. 45
25. 63
26.75
24.79
21.43
19.75
20. 50
19.51
18.66
18. 39
16. 97
16. 51
18.3
17.5
14.6
14.1
14.1
12.9
12.7
13.6
12.2
12.1
LIVESTOCK
Cattle and c,ihov
Slaughter federally insnected)
Calves
._
_ - _ t h o u ^ ot animals _.
Cattle
do
Receipts, nrincipil markets
do
Shipraerns, feeder, to 9 corn-belt ^ tat PS
do
Prices, wholesale*
Beef ^tc^rs (Chicaeo)
.. . dol. ntr 100 lb__
Freer.", slocker and feeder (K msas ritv)
do
Calves, vcalers (Chicago)
_ _ ....
do
HoesSlaughter (federal^ inspected)
...thou 1 ; of animals-c
Receipts, principal rnaikct
do
Price?
Wholesale, average, all eradf s f Chicago)
«lnl per 100 lb_Ilog-corn mice rntio
bu. of corn equal in vuliv* to lOit Ib 01 live hog..
Sheep and lambsSlaughter (federally inspected 1 ) _t f i«>*is <>t •mimals.Receipts, principal markets
_
__do
Shipments, feed* r, to 9 corn-belt ^tafces
do
Prices, wholesaleT>ambs, average (Chicaeo) . .
_<{ol. per 100 lb__
Larnbs, feeder, good and choice (Owihn)
do
MEATS
Total meats (including lard):
Production (inspected slaughter)
mil. o f l b _ _
Stocks (excluding lard), cold storage, end of month
mil. of lb_.
Exports- _
- . - _ - . . .
do
Beef and veal:
Production (inspected slaughter)
thous. of lb__
Stoeks, cold storage, end of month
do __
Exports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs) (New York)
dol. per Ib. ..
Larnb and mutton:
Production (inspected slaughter)
thous. oflb..
Stoeks, cold storage, end of month
do
Pork, including lard, production (inspected slaughter)
thous. o f l b - .
Pork, excluding lard:
Production (inspected slaughter)
do
Stocks, cold storage, end of month
. _ do
Exports
do
Prices, wholesale:
Hams, smoked, composite
dol. perlb.Fresh loins, 8-12 Ib. average (New York)., do
Lard:
Production (inspected slaughter) . .
thous. of lb__
Stocks, dry and cold storage, end of month f _ _ . do
Exports
do
Price, wholesale, refined (Chicago)
dol. per lb-.
PQULTRY AND EGGS
Poultry:
Receipts, 5 markets
thous. of lb__
Stocks, cold storage, end of month,.do
Price, wholesale, live fowls, heavy type, No. 1
(Chicago)
dol. per lb_.
Eggs:
Production, farm
_.
_. _ millions
Dried egg production
thous. of lb_.
Stocks, cold storage, end of month:
Shell
thous of cases
Frozen
thous. of lb_ .
Price, wholesale, extras, large (Chicago)
dol. per doz_.
19, 174
78. 3
382, 856
44, 524
4, 661
-16.3
17.3
17.7
17.2
1,227
1,182
185
1,241
1,190
197
1,090
1,032
175
1,149
1,128
188
1,096
1,203
202
1,045
1,133
147
1,200
1,189
90
1,209
1,137
100
1,207
1,391
248
1,290
1,806
631
1,291
1,841
539
1, 160
1, 323
344
1, 167
1,192
185
19.25
18. 00
20. 62
19.14
21.25
20. 26
24. 25
21.44
27. 75
22.31
25.88
0)
24.00
0)
21.25
0)
19. 50
17.67
19.50
17. 46
19. 38
17.50
19.75
17.70
19. 25
18. 05
1,952
1,836
1,517
1,772
1,609
1,563
1,683
1,641
1,673
1,796
1,897
2,026
2,120
717
60
762
45
755
57
732
33
706
59
653
64
605
47
530
48
467
43
443
41
478
65
638
78
806
939, 793
269, 668
3,848
895, 446
247, 894
1,067
761,153
219, 002
5,848
886, 182
186, 362
840
828, 596
160, 002
4, 464
838, 154
138, 622
1,250
905, 294
127, 141
1,088
920, 803
122, 333
2,198
919, 606
126, 183
1,650
917, 746
121, 290
3,079
924, 790
137,718
2,346
901, 498
177, 078
3,280
912, 239
299, 944
.392
.398
. 408
.405
.417
.414
.438
.443
.450
. 455
53, 274
10,808
55, 672
9. 445
52, 190
8, 897
48, 262
8, 135
51, 950
9, 450
52, 385
8,448
53, 001
7,867
55, 324
7, 359
56, 119
7,741
52, 466
8,518
54, 704
9,8U
881, 313
702, 169
830, 303
727, 839
676, 709
725, 640
667, 645
700, 693
822, 728
915, 733 1,071,719 1,153,238
658, 662
393, 307
5, 136
526, 049
413, 507
4, 407
628, 446
418, 283
3, 832
547, 809
420, 917
4, 200
505, 239
384, 643
3,658
538, 092
346, 024
4,016
491, 002
282, 873
5,422
526, 732
228, 738
3,779
622, 033
215, 057
2,719
681, 669
233, 612
4, 995
799, 131
340, 874
6,692
.671
.574
.669
.626
.646
.587
.611
.598
.630
.534
.553
.513
.521
.450
.546
.459
178, 155
74, 322
38, 187
.205
162,215 128,867 147,106 331,394
74, 024
72, 920
78, 945
75, 525
42, 042
23, 359
39, 558
33, 607
.233
. 208
. 208
. 213
125, 254
69, 278
50, 908
. 205
137, 369
65, 689
33, 365
.190
129, 394
58, 065
29, 808
.205
127, 058
47, 818
29, 047
.213
146, 772
50, 460
25, 344
.208
171, 156
51, 349
46, 022
.185
198,822 225, 859
r
75, 1 60 104, 125
55, 013
. 190 " V.172
65, 890
275, 888
37, 325
266, 626
39, 205
184, 743
43, 216
167, 499
47, 393
151, 147
42, 779
141, 651
47, 532
146, 651
55, 555
188, 417
64, 612
275, 192
73, 380
291, 504
. 424
. 431
57, 079
12,232
59, 522
11,460
954, 712
710, 666
326,812
7, 708
.657
.509
. 673
. 550
. 396
. 638
. 541
35, 734
241, 692
. 660
. 540
41, 189
217, 456
v . 555
.412
64, 744
272, 618
.280
.300
.220
.240
.190
.165
.185
.175
.160
.180
.175
5, 448
1, 698
5,476
1, 865
6,605
3,140
6, 271
3, 104
6, 071
3,178
5, 251
2,388
4,766
1,869
4,545
1,215
4,604
953
4,994
792
5, 057
900
5, 494
1, 336
89
42, 030
75
38, 244
135
41, 639
443
91, 940
728
136, 488
1, 348
166, 983
1,639
186, 189
1,435
180, 777
1, 031
160, 797
833
138, 784
636
117,958
325
94, 658
183
74, 310
.479
.172
.355
.351
.398
.427
.409
.381
.317
97, 000
85, 262
101, 740 *• 115, 330
99,814
. 250
. 450
.403
. 380
. 397
20. 88
20. 22
. 460
843, 809
454, 498
5, 239
1, 242
.250
26.12
20.40
.431
40, 480
5, 771
. 334
MISCELLANEOUS FOOD PRODUCTS
Confectionery, manufacturers' sales t
Cocoa or cacao beans:
Imports (incl. shells)
Priccs, wholesale, Accra (New York)
Coffee:
Clearances from Brazil, total
To United States
Visible supply, United States __
Imports
Price, wholesale, Santos, No. 4 (New
thous. of doL.
long tons__
dol. per lb_.
30, 242
.468
43, 394
.542
79, 619
83, 931
74, 768
59, 390
61,415
48, 719
65, 541
103, 120
27, 081
.535
11, 905
.578
14, 265
.619
11,991
.639
22, 215
.648
17,485
.689
12, 488
.678
14, 430
.537
11, 861
.471
17, 024
r
.518
J> . 476
454
468.
1, 060
1,409
1, 725
962
599
522
932
1, 219
thous. of bags
818
1, 629
1, 082
485
795
183
1, 055
662
539
146
266
119
493
363
.
do
1, 170
630
735
637
694
832
941
723
829
820
1, 009
765
695
_. _ do
793
799
1,922
2,489
2,275
1,918
1,098
1,940
1,256
979
878
660
1, 242
871
do
York)
.855
.725
.870
883
.613
.858
.870
.760
.718
. 670
.755
.700
dol. per lb-_
.685
.720
T
]
Revised.
v Preliminary.
No quotation.
t Re vised series. Compiled by the U. S. Department of Commerce, bureau of the Census, representing factory and warehouse stocks of rendered and refined lard; data prior to June 1952
will be shown later.
tRevisions for 1952 and January-May 1953 are shown in the August 1954 SURVEY.
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
1953
February 19f>n
1954
December
January
February
March
April
May
June
July
August
1
Novem-i IVceinber | ber
Sept ember
January
FOODSTUFFS AND TOBACCO—Continued
i
MISCELLANEOUS FOOD PRODUCTS— Con.
Fish:
Landings, fresh fish, 5 ports
thous. of l b _ Stocks, cold storage, end of month
_
do - _
Sugar:
Cuban stocks, raw, end of month
thous. of Spanish tons.United States:
Deliveries and supply (raw basis):
Production and receipts:
Production
short tons. .
Entries from off-shore
do .
Hawaii and Puerto Rico
do
Deliveries, total
_ __
do .
Dor domestic consumption
do
For export
- , __ -do .-.
Stocks, raw and refined, end of month
thous. of short tons .
Exports
.
short tons
Imports:^
Raw sugar, total
do
From Cuba
do
From Philippine Islands
do
Refined sugar, total _ _
do
From Cuba
do
Prices (New York) :
Raw wholesale
dol per lb
Refined :
Retail?
-dol. per Sib-Wholesale
, _-dol. per lb
Tea, imports
thous of lb
TOBACCO
Leaf.
Production (crop estimate)
mil o f l b
Stocks, dealers' and manufacturers', end of quarter total
mil o f l b
Domestic:
Cigar leaf
do
Air-cured, fire-cured, flue-cured, and miscellaneous domestic
mil of lb
Foreign grown:
Cigar leaf
do
Cigarette tobacco
do
Exports, including scrap and stems
thous. of lb._
Im ports, including scrap and stems
do
Manufactured products:
Production, manufactured tobacco, total.
.do
Chewing plug and twist
do
Smoking
do
Snuff
do
Consumption (withdrawals):
Cigarettes (small):
Tax-free
millions
Tax-paid
do
Cigars (large), tax-paid§
thousands
Manufactured tobacco and snuff, tax-paid §
thous. of lb_.
Fxport^ cigarettes
millions
Price, wholesale, cigarettes, manufacturer to wholesaler and jobber, f. o. b. destination
dol. per thous -.
23, 951
176. 249
17,455
154, 570
28, 111
138, 468
41,265
112,288
41,524
110,328
59, 452
118,806
75, 834
140, 009
84, 605
163, 697
73, 274
190, 538
47, 478
202, 228
48, 307
204, 722
35, 270
206, 437
25/716
194, 338
«• 1,441
* 1, 201
2,437
3,316
4,341
4,316
3,991
3, 712
3,262
2,812
2,637
2,447
2. 037
473, 347
117,126
61, 688
' 802. 751
••801,708
' 1,043
137, 932
320, 741
52, 886
506, 430
.504, 421
2,009
57, 480
507, 709
108, 657
561,418
559, 043
2,375
27, 365
522, 494
147. 957
823, 814
822, 844
970
51,311
762, 870
287, 257
574, 426
569, 756
4,670
60, 519
617, 552
181, 301
659, 133
655, 707
3,426
56, 392
598, 368
190.496
808, 299
807, 168
1,131
44, 495
544, 041
159, 787
772, 780
770. 000
2,780
96, 464
759, 214
228, 846
792, 402
792, 000
402
131, 000 601, 213 797, 114
471, 248 426, 594 202, 728
200, 094 283, 327 134, 861
792, 383 r 642, 314 ' 636 664
788 000 642, 000 633, 207
-•314
r 3, 457
4.383
215, 486
146, 234
646, 457
645. 000
1. 457
1.643
596
1,668
631
1,612
745
1,479
276
1,625
1,039
1,625
291
1,484
458
1,239
439
1,108
439
929
474
1,261
351
r 1, 748
157, 648
118,711
38, 640
301
275, 725
238, 950
36, 267
20, 151
13, 694
305, 487
236, 902
66, 165
35. 595
29, 570
363, 956
282, 575
81,336
54, 938
50, 062
428, 730
292, 522
136, 203
51, 375
45, 753
331, 129
227, 304
103, 825
57, 212
52, 728
370, 023
201,573
162, 623
60, 048
50, 110
285, 305
165,368
115,160
64. 165
60. 609
328, 689
231, 782
91,932
40, 555
39, 455
282, 688
160, 492
86, 036
2, 585
540
155, 555
120, 246
35, 309
2,492
640
118,165
77, 843
29, 774
859
103
.060
.060
.061
.063
.062
.061
.061
.062
.061
.060
.059
.062
p . 060
.497
.085
10, 004
.498
.085
11,580
.499
.086
10, 783
.503
.086
18, 079
.502
.086
13, 984
. 502
.086
9,828
.502
.086
5,786
. 500
.086
5,765
. 502
.085
7,114
.498
.085
6,599
.498
.085
7, 175
497
p . 085
r
.497
. 085
8,745
1,8*3
467
2 2, 200
' 2 055
4 515
4, 540
4.084
4,240
319
370
353
319
3 997
3 969
3 546
18
181
69, 579
7, 582
30, 390
8,125
19,019
7,875
18
183
21,715
9,133
27, 560
9,528
28, 593
8, 701
17
167
26, 787
9,188
28, 964
8, 280
14, 735
5 978
5,373
3,384
15,502
6,796
5, 549
3,157
15,561
6,389
6,078
3,093
18, 476
6.865
7, 900
3,711
17,369
6,723
7, 356
3,290
1 7, 243
6. 906
7,030
3,307
17,883
7,435
6,953
3,495
3, 534
29. 141
443, 532
2, 700
28, 858
401,693
2, 638
26, 676
406, 560
2,865
32, 295
476, 514
2,485
30, 499
445, 991
2, 487
31, 863
483, 650
15,213
1,416
14, 997
1,274
14,688
1,183
18, 079
1, 252
17,402
1,415
3.938
3.938
3.938
3.938
3. 938
4, 773
301
4 °69
j
i
29, 262
10, 300
17
149
45, 852
9,848
98, 549
8 855
58,315
8 969
14, 557
6,411
5,962
2,184
18, 363
7,196
7,612
3, 555
18, 866
7, 105
8, 361
3, 399
18, 252
7,021
8,214
3,017
16, 683
6, 857
6, 933
3,193
2,798
34, 998
510,197
2,759
28, 959
434, 978
2,501
34, 568
526,817
3, 395
31, 964
503, 475
2,472
31,593
501, 498
3, 298
29, 699
573, 184
16,944
1,339
17,643
1,310
14, 275
1,273
17, 902
1,006
18, 487
1,200
17,219
1,342
16,790
1.432
3.938
3.938
3,938
3. 938
3.938
3. 938
•- 3. 938 :
9, 560
147!
109!
2.365!
17
186
3. 938
LEATHER AND PRODUCTS
HIDES AND SKINS
Calf and kip skins
thous of pieces
Cattle hides
do
Goat and kid skins
do
Sheep and lamb skins
do
Prices, wholesale (Chicago):
Calfskins packer heavy 9/-£/151b
dol perlb
Hides steer heavy native over 53 lb
do
8 770
81
36
2 034
1 033
438
. 123
8 232
123
20
2, 051
1,087
413
. 120
7 436
59
112
1,550
898
9 372
54
50
1.839
2,158
13 492
26
13
2, 440
3,288
14 633
101
10
2,268
3,757
11 554
153
33
2,166
2,219
10, 491
161
38
2, 163
1,538
10 806
63
46
2, 265
2,213
8, 879
106
13
2,414
1,097
8,713
142
23
1.876
909
413
. 103
413
.108
.413
.108
.475
.128
.455
.118
.425
.123
.350
.133
.300
.123
.325
. 113
.123'
2. 009
1,951
1,873
94o' 2,069:
2,078
1,959'
66,
4-v
3. 592'
you
p.09*
LEATHER
Production:
Calf and kip
Cattle hide
Goat and kid
Sheep and lamb
Exports :
Sole, leather:
Bends, backs, and sides
Offal including belting offal
thou^ of skins
thous of hides
thous. of skins
do
840
1 978
2. 350
1, 820
801
1.953
2. 262
1,669
791
2,015
2.330
1,870
762
2,117
2,732
2,219
712
2,039
2,149
2,001
706
2,016
2,124
2,172
751
2,038
2,477
2,141
634
1,643
2, 078
1,613
783
2,010
2, 121
2,320
730
1, 959
1,920
2,036
. . . thous. oflb- .
do
26
39
3 159
21
29
3 160
23
3 440
27
29
2 733
78
58
4, 950
93
15
3, 779
48
116
2,951
90
39
2,725
23
37
3,183
33
6
3, 723
50
18
3,360
600
090
680
670
650
635
.628
. 902
. 985
. 988
.988
.955
.908
.863
Prices, wholesale:
Upper, chrome calf, B and C grades, f. o. b. tannerv
dol. per sq. f t . _
r
1
655
665
660
660
.998
.985
.948
. 950
Revised.
*' Preliminary.
Revised estimate for 1953.
- December 1 estimate of 1954 crop.
c?Revisions for 1952 are shown in the April 1954 SFRVEV.
9 Data for January-June 1953 represent price for New York and Newark; thereafter, for New York and Northeastern New Jersey.
^Revised to represent data based on number of stamps used by manufacturers; revisions prior to -May 1952 will be shown later.
r
r
600
' .898
- _
.
.
P 595
P . 877
1, 712
SURVEY OF CURRENT BUSINESS
February 11)55
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
S-31
1954
1953
December
January
February
March
April
May
June
1955
July
August
Septem- October Novem- December
ber
ber
January
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers:!
Production, total ...
thous. of pairs .
By types of uppers:
\11 leather
do
Part leather and nonleather
_ _ do _
Shoes, sandals, and play shoes, except athletic,
total
thous. of pairs
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
\thletic
do
Other footwear _
do ..
Exports
do
Prices, wholesale, f. o. b. factory:
Men's and boys' oxfords, dress, cattle hide upper,
Goodyear welt
1947-49=100
Women's oxfords (nurses'), side upper, Goodyear
welt
1947-49=100
Women's and misses' pumps, suede split .. do . .
40, 343
42, 377
43, 702
49.812
44, 675
38. 850
43. 533
41,051
48, 523
42, 795
42. 883
41,630
44, 165
33 322
7,021
34 890
7. 487
35 182
8, 520
39 508
10, 304
34 440
10, 235
31 713
7, 137
36 135
7^398
34 290
Ox 761
39 898
8, 625
34 217
8,578
34 016
8*867
32 797
8,833
36 426
7'. 739
36. 238
39, 509
40, 488
45, 704
40, 401
35, 059
38. 772
36, 154
41, 737
35, 787
35, 349
34, 763
39, 939
8 266
1,377
17 422
6.029
3 144
3. 592
303
210
951
8,044
1,489
20 594
6,090
3 292
2,321
285
262
239
7 812
1,473
21 901
6 053
3 249
2,641
281
292
411
8 579
1,732
25 301
6 372
3 720
3 560
274
274
370
8 060
1,563
22 300
5 307
3 171
3 682
284
308
484
7 140
1, 527
18 656
4 873
2 863
3 359
268
164
972
7 812
1 734
20 722
5 370
3 134
4 346
280
135
306
6
1
20
4
2
4
783
658
791
856
066
561
228
108
280
7 848
1,953
23 065
6 122
2 749
6 315
293
178
347
7 508
1, 685
18 351
5 513
2 730
6 447
288
273
367
8 089
1, 621
17 611
5,262
2 766
6,939
331
264
403
7 876
1,451
16 621
5,733
3 082
6,427
290
150
328
8 934
1, 585
19 606
6. 345
3 469
3,757
337
132
110 3
110.3
1 10. 3
110 3
110 3
110 0
110 0
110 0
110 0
110 0
110 0
110 0
p 110. 0
117.5
112.3
117.5
112.3
117. 5
112.3
117 5
112.3
117 5
112.3
117 5
112.3
117 5 j
117 5
112.3
117 5
1 1 2. 3
117 5
112.3
117 5
1 1 2. 3
116 8
112.3
v 116 8
"112.3
112.:
LUMBER AND MANUFACTURES
LUMBER— ALL TYPES
Exports, total sawmill products
M bd ft
Imports, total sawmill products
do
National Lumber Manufacturers Association:®
Production, total
mil. bd. ft
Hardwoods. ... _.
. . ___
- do___
Softwoods
do
Shipments, total ._
do
Hardwoods
do
Softwoods
_
_ __
_ do .
Stocks, gross (mill and concentration yards), end
of month, total
mil. bd ft
Hardwoods
do
Softwoods .. ._ _ _ do.
54, 109
197, 952
44, 792
137, 219
74,212
181,590
70, 262
233, 015
65, 723
215,384
69, 742
188, 115
65, 298
255, 505
49, 128
340, 991
41, 270
354, 922
45, 861
282, 608
57, 341
294, 520
68,963
298, 175
2,875
638
2, 237
2, 706
550
2, 156
2,749
643
2,106
2,604
526
2,079
2,901
680
2,221
2,808
612
2,196
3, 358
690
2,668
3, 353
599
2,754
3, 310
660
2,649
3, 387
603
2,784
3, 273
634
2,639
3, 169
565
2,604
3,116
617
2.499
3,293
524
2,768
2,671
648
2,023
2,797
540
2,257
2,887
592
2,295
2,913
517
2, 395
3,240
584
2,657
3, 202
540
2,662
3, 349
601
2,748
3, 330
599
2,730
3,148
557
2,591
3,068
545
2, 523
3, 083
543
2, 540
3, 074
545
2, 529
8, 950
3, 1 94
5, 756
9,132
3,311
5, 821
9,221
3, 379
5, 842
9,227
3, 470
5, 757
9,183
3, 528
5, 655
9, 288
3, 598
5, 690
9,111
3, 690
8, 959
3,746
5, 213
8,929
3, 821
5,108
8,967
3,865
5,103
8,934
3, 841
5, 093
9, 054
3,879
5,175
9, 063
3, 877
5, 186
798
750
753
757
987
28,161
10,619
1 7, 542
813
777
763
779
1,002
21, 335
8,490
12,845
863
855
-791
778
1,011
39, 609
19, 937
19,672
1,033
865
963
1,013
961
40, 917
15,285
25, 632
944
763
941
1,037
898
27, 592
5,866
21, 726
951
874
858
831
925
36, 218
13,991
22 227
884
899
712
850
787
30, 393
10, 329
20, 064
369
895
342
365
791
9, 506
3, 188
6, 318
455
867
440
470
757
13, 534
3, 975
9, 559
(560
778
752
735
774
16.119
4,872
11,247
802
718
882
850
782
24, 571
10, 078
14,493
817
680
881
846
831
33, 151
13, 645
19, 506
962
742
877
889
819
SOFTWOODS
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 productsi-M bd. ft
Sawed timber t
do
Boards, planks, scantlings, etc.t
do_.
Prices, wholesale:
Dimension, No. 1 common, 2" x 4", R. L.
dol. per M bd. f t . .
Flooring, B and better, F. G., 1" x 4", R. L.
dol. per M bd. f t _ .
Southern pine:©
Orders, new
mil bd ft
Orders, unfilled, end of month
do
Production
._
_
_ _ _ _ _
do
Shipments
_ _ ._
do
Stocks, gross (mill and corcentration yards), end of
month
_____
_ _
mil. b d . ft
E xports, 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. f t _ .
Flooring, B and better, F. G., ]" x 4" x S/L
dol. per M bd. f t . .
Western pine:®
Orders, new _
m i l . bd ft
Orders, unfilled, end of month.
__
do
Production
_ __
.
do
Shipments _
do
Stocks, gross, mill, end of month
__
do
Price, wholesale, Ponderosa, boards, No. 3 common,
1" x 8". ..
_
dol. per M bd ft
HARDWOOD
r
73. 409
73. 395
73. 941
75. 054
74. 767
75. 180
76. 951
81. 592
81.779
84. 482
86. 849
125. 612
124. 950
125. 922
125. 922
125. 767
125. 767
125.440
126. 671
126.671
127. 683
132. 953
531
202
651
595
201
684
596
680
251
687
630
742
257
761
736
693
238
714
712
735
261
(590
712
355
707
798
832
331
725
856
728
297
682
762
711
290
664
718
700
276
(566
714
683
259
680
700
1 . 97(5
5. 700
640
o. 0(50
2 064
3, 986
1. 268
2, 718
2, 121
6, 380
1,528
4, 852
2, 146
5, 512
923
4, 589
2,148
6,414
1, 601
4,813
2. 120)
6. 806
1.564
5, 242
2. 035
8, 043
1, 77<
0. 273
1, 904
7, 022
1,798
5,224
1,824
(5, 329
1.202
5, 127
1, 770
5, 867
1,573
4, 294
1, 722
8,427
2.897
5, 530
1,702
8, 605
3, 135
5 470
r
83. 699 p 83. 046
131, 361 P 13 1.361
r
(5(52
682
1, 74(5
75. 605
74. 359
72. 092
72. 271
71.030
70. 268
70. (533
74. 624
74. 327
75. 218
75. 923
1 55. 685
155. 379
155.379
154. 154
152. 929
151.471
151.471
150. 981
151.557
151.680
152. 170
547
342
512
523
1 , 874
472
366
395
447
1,822
512
383
444
496
1,770
662
418
568
628
1,710
673
427
(538
664
1 , 684
G75
410
720
692
1,712
793
463
724
740
1 , (590
715
499
635
679
1, 652
785
516
791
768
1, 676
754
459
851
811
1. 716
825
422
818
788
1 , 746
694
382
679
654
1,771
(511
1,7(54
70. 65
71.71
70. 90
71.01
70. 64
70. 16
H9. 30
70. 65
71. 51
71.02
71.38
72.07
P71.95
78. 021 p 78. 224
152. 170 v 151. 881
068
439
FLOORING
Maple, beech, and lurch:
Orders, new
M bd ft
3. 850
5.150
4, 200
4, 550
4, 350
4, 050
5, 650
3, 900
5, 200
4, 300
3, 950
3, 700
Orders, unfilled, end of month
do
9, 250
9, 450
9. 300
10, 000
10,450
11,150
10. 550
11, 150
12,000
11,380
11,650
1 1 , 700
111 300
Production
. do
4, 300
4, 600
3, 950
3, 900
3, 950
3, 450
4, 750
3, 950
4,800
3, 450
4, 300
4, 450
4, 400
Shipments
... _ .
do
3. 825
3, 750
3. 650
3, 900
3. 950
3, 750
4. 400
4, 650
4, 850
4, 650
3, 900
3,500
3, 950
Stocks, mill, end of month
do
9, 300
9, 750
10,500
9, 850
10, 650
10, 350
8, 875
9, 500
8,200
8, 500
9,200
10, 350
11,050
oak:
Orders, new
do
70, 910
80, 206
89, 079
99. 618
84, 824
78, 781
99. 934
95, 444 104, 462 100, 481
91, 449
81,496
89, 810
Orders, unfilled, end of month
do
47, 688
54, 743
68, 085
76, 534
74, 554
71,364
(56, 643
79, 782
73, 118
77, 983
73, 083
64, 301
65,157
Production
do
81.218
75,518
77, 282
89, 459
90. 062
92, 604
86, 999
99, 590 100, 488
96, 999
90, 587
97, 746
97, 834
Sh ipmen ts
do
71. 221
75, 737
73,151
89. 853
90. 926
86, 688
95,213
93. 690
99, 597 100, 172 101,216
94, 988
88, 960
Stocks, mill, end of month
do
64, 149
68, 289
68, 070
66, 173
(52, 495
61,090
57, 486
54, 383
51, 268
47, 984
47, 256
49, 524
57, 375
T
Revised.
» Preliminary,
t Revised from 1950 forward to reflect adjustments t 3 1953 ben chmark n mterials; 1950-52 ai nual tota s and monthly dat a for Jam mry-Sept dinber 1953 will be shown lat
©Revised monthly data (for production, shipments , and stocks; also o -ders, exce pt for all types of himber) ar e availa.b] e upon request as f(}llows: T _>tal, all ty pes, Janu ary 1950- ? ebruary
1953; Douglas fir, January 1952-February 1953; Southerri pine, Jarmary-De ^ember 19 51; Weste rn pine, Jtmuary 19 jQ-Febru? ry 1953.
^Revisions for 1952 for exports of Douglas fir sawmil 1 product 5 will be s lown later.
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
December
Janu-
Febru-
ary
March 1
ary
April
May
I June
February 1955
July
31955
o'H^'Nri ;
Septem-
j Augusr
ber
LUMBER AND MANUFACTURES—Continued
]
PLYWOOD
;
Hardwood (except container and packaging):*
Shipments (market), quarterly total
17? 270
]VT so ft surface measure
33, 486
Inventories (for sale) end of cii"i5)7"'t<:vr
do
Softwood (Douglas fir only), production*
M sq. ft.. %"' equivalent. . 332, 290
;
!
j
'
167 888
34, (381
!
•
358,393! 318,019
376,991
!
:
j
I
! 164 857
'•
j
i
i
355, 285J
177 340i
30,741
342.385J 286,451
29 266 i
141, 689
207, 060
386, 812J 392, 579
!
r
394, 659 ' 392. 810
393, 10 i
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced rnfrs.):
Exports, totalO 9
short toiis_.
Scrap
do
Imports, total 9 - -- .- ---.
... do._ Scrap
do
j
326, 599
51 953
144, 733
2, 294
i
i
315,013 300, 433; 315,967 360. 844
62 316! 66 790 103 464! 65 419
86, 651 103, 650i
86. 632
70, 839
1,325;
3,121
1,355
2, 016
!
j
270, 706
40 561
123. 409 i
327, 602 343,611
102, 562 100, 114
140,176 139, 629
22, 033
11,073) 14, 6-50
384, 6361 405, 050 415, 036 383. 198
140,938' 188,6741 166,2901 153 558
149,686 147.345 137,893 153, 263
41,256
20. 651
29, 448 31. 796
Iron and Steel Scrap
Production and receipts, total* thous, of short tons_.
Home scrap produced*
do
Purchased scrap received (net)*
do
Consumption, total
do _
Stocks consumers', end of month
do
4,974
5, 588
3,472
2 116
5, 253
7,152
3,241
1 733
5, 123
7, 004
3,183
2,099
5,877
3,068]
1, 749J
7,0411
'
1
0
7 022
48,815
41, 145
7,671
938
41,974
1, 806
3, 040
1 767
4. 912
6,940
1 919'
5, 133
6,571
5. 090
2, 951
2 140
5, 350
6, 315
5,218
2, 965
2, 253
5, 224
6, 315
4, 557
2, 633
1, 924
4, 378
6,494
4,770
2,701
2, 069
4,664
6,599
4,729
2,717
2,011
4,814
6,510
5, 362
2, 939
2, 423
5, 356
6, 509
3,117
1, 597
4, 466'
3, 059
9,920
11,327
9,818i
10,573
10. 580
i
11,610!
12, 399
9,790
10, 994
11,987
8,796
10,295
10, 823
8,269
8,913
9,333
7, 848
6, 776
8,070
6, 554
0
1. 525
5, 287
26, 142
20, 690
10, 608
5,396
34, 996
29, 187
5,809
1,496
11,016
5, 155
40, 723
34, 537
6,186
1,540
9, 555
4, 895
45, 733
39, 199
6,534
1,691
7, 951
4,620
49, 753
43, 083
6,670
1,904
7, 25?
5, 398
51,868
44, 980
6,889
1,736
5, 303
3,181
1 921
5. 194
6,811
4, 893 j
2,974
T
r
5, 866 T 6, 18?
3, 063 p 3 ?87
2,
800 p 2, «95
T
5, 520 T- 5. 687
' 6, 852 P 7, 340
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 by 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.-
0
6, 996
2, 982
1,653
8, 399
0
5,787
3,272
4,101
5,726
2,907
1, 8°6
6, 737
18
2,918
6, 341
5,845
' 49, 975 44, 018
' 43, 06537, 427
6,591
6,911
1.711
844
5,452
932
9, 952
5 376
29, 563
24, 147
5,416
1.119
92
74
98
93
83
65
55
71
47
93
872
932
865
936
842
1,047
826
995
775
943
488
492
553
528
516
804
987
556
829
821
450
830
935
542
811
921
534
789
943
552
760
997
547
85, 565
70, 288
38, 266
81,579
74, 219
84, 342
47, 125
69, 094
69, 078
37, 792
74,515
39,102
67, 0401
67, 856
37, 306
60,163
72, 820
41,121
63, 711
50,893
25, 243
62, 494
59, 259
34, 528
66, 742
58, 01 5
33, 929
71,090
64, 321
36. 956
80, 686
70, 030
41, 609
5,779
5, 703
5,580
4,811
4, 809
4, 959
4, 892
4, 503
4, 505
4,624
5. 525
4,691
4, 724
4,813
4, 626
4,469
4, 567
4, 495
4,462
4. 486
4,984
5,061
5, 587
5, 257
' 5. 336v 5. 576
2, 800
2, 764
2,829
2. 858
2, 809
2, 729
2, 620
2,762
2,843
2.743
2, 640
r
2 533
f 2, 526
56.03
56. 00
56.50
56. 03
56. 00
56. 50
56.03
56.00
56. 03
56. 00
56. 50
56. 03
56. 00
56. 50
56.03
56.00
56. 03
56.00
56. 50
56. 03
56.00
56.50
56. 03
56. 00
56. 50
56. 03
56. 00
56. 50
56. 03
56. 00
56. 50
56. 03
56.00
56. 50 ;
56. 03
p 56. 00
v 56. 50
88, 359
64, 722
8.668
87, 085
64, 004
8, 580
87, 659
64, 812
7.742
34, 797
7,178
36, 386
29, 661
846
6,725
795
108
110
940
1,037
558
98, 158
72, 399
39, 721
5, 932
30, 587
21, 553
6, 035
Pig Iron and Iron Manufactures
Castings, gray iron:
Orders, unfilled, for sale
thous. of short tons__
Shipments, total
_
do
For 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
thous. of short tons..
Prices, wholesale:
Composite
dol. per long ton
Basic (furnace)
__ _
.
do
Foundry, No. 2, f. o. b. Neville Island- __
do _ _
56. 50
56. 50
56. 03
i
Steel, Crude and Semimanufactures
Steel castings:
Shipments, total
short tons
For sale, total
do
Railway specialties
do
Steel forgings:
Orders, unfilled, for sale
thous. of short tons_.
Shipments for sale, total
do
Drop and upset _ _
_
do
Press and open hammer
do
Steel ingots and steel for castings:
Production
_ _ _ __
_ . - do
Percent of capacity^
_ __ _
Prices, wholesale:
Composite, finished steel
dol. perlb_.
Steel billets, rerolling, f. o. b. mill
dol. per short ton..
Structural steel, f. o. b. mill
dol. perlb..
Steel scrap, heavy melting (Pittsburgh)
dol. per long ton..
1
123, 295
92, 299
18, 665
122, 758
93, 577
20, 058
116, 520
88, 699
17, 756
122.310
105,788
94,610
92 271
1 5. 502
78, 754
10, 768
70, 596
650. 5
142.6
98.9
43.7
637. 9
138.9
101.5
37.4
539. 2
126. 9
94. 2
32.7
486. 5
130.2
95. 5
34.7
459. 6
1 1 5. 8
86. 29.3
430. (i
307.
80.9
26. 2
409.2
113.1
86. 2
26. 9
395. 4
96.8
74.4
22.3 !
410. 1!
102. 2
77.2
25.0
409. 0
109. 1
81.7
27.4
382. 0
<• 113.0
86.0
r
27. 0
7,946
80
7,951
7,083
74
7, 290
6,971
75
69
68
7,473
71
7. 364
72
6,628 i
63 i
6, 667
63 1
6,807
67
7,702
73
. 0524
. 0524
.0524
. 0524
. 0524
. 0524
. 0524
. 0539
. 0542
.0542 I
72.00
.0438
72.00 i
. 0437
72. 00
72. 00
72. 00
. 0437
.0437
.0437
72.00
. 0437
74.00
.0452
. 0541
i
74. 00
. 0452
.0541 [
72.00
.0438
74.00 I
.0452 j
74. 00
. 0452
74. 00 ' * 74. OC
.0452 | P . 0452
33. 5(
30. 50
28.50
25. 5C
26.50
29. 50
29. 50
28. 50
29. 50
30. 50
32. 50
34. 50
9,337
100, 022
72, 881
8, 596
75, 848
53, 207
5,815
89, 590
66, 792
9,344
461.2
119.7 _
89.3 I~~--1I-!30.4 i
8,089
79
r8 2
' if
8,838
83
. 0542
.0542
P 32. 51
Steel, Manufactured Products
'
Barrels and drums, steel, heavy types:
3,141
2,586
3, 538
3,231
2,217
3, 208
3,101
3, 238
3, 066 !
2,939
2, 726
3,160
Orders unfilled, end of month
thousands
2,256
1,868
1,892
1. 797
2,038
1,600
1,681
1,782 :
1, 785
1,902
1,908
1 , 950
2, 003
1,848
Shipments
..
do
112
72
62 i
67
103
90
109
110
73
71
68
78
67
Stocks, end month of
do
r
Revised.
" Preliminary.
*New series. Data for hardwood plywood are compiled by the U. S. Department of Commerce, Bureau of the Census; they cover all known market producers of hardwood types, except
as indicated.
Douglas fir plywood production is compiled by the Douglas Fir Plywood Association.
Data presented are total industry figures, based on reports from plants controlling, on the average,
approximately 90 percent of industry capacity. The monthly totals are estimated from weekly reports by prorating split weeks on the basis of a 5-day workweek, with allowance for generally
observed holidays.
Data for production and receipts of iron and steel scrap are compiled by the 17. S. Department of Interior, Bureau of Mines; data prior to 1953 are not available for publication.
OIn the 1952 edition of the export schedule, certain items (pipe fittings, welding rods, bolts, fabricated structural and other shapes) were transferred from the steel-mill products to the
metal manufactures category. The data through 1952 as shown in the 1953 edition of BUSINESS STATISTICS were adjusted to include exports of these commodities for comparability with the
earlier data. Exports beginning January 1953 as published in the March 1953 SURVEY and subsequent issues exclude these items which averaged 21,300 short tons per month in 1953.
9 Revisions for 1952 are shown in the April 1954 SURVEY.
JFor 1955, percent of capacity is calculated on annual capacity as of January 1, 1955, of 125,828,310 tons of steel; for 1954, data are based on capacity as of January 1,1954 (124,330,410 tons);
December 1953, on capacity as of January 1,1953 (117,547,470 tons).
SURVEY OF CURRENT BUSINESS
February l()r>r>
1953
rwise stated, statistics through 1952 and
notes are shown in the 1953 Statistical
it to the Survey
S-33
1954
December
January
February
March
April
May
June
j
1955
July
August i ^hpf
171
! October
Novem- j December
ber
January
METALS AND MANUFACTURES—Continued
STEEL— Continued
i Products— Continued
in terms of steel consumed),
short tons
do
.do
do.
uction
- ..
ynts:
rades
million s_ ._
thousan d gross
thous. of short tons,
do
..
„ __do— .
do .
....do—.
do
..do.. -
do
..do
do
- - - do - do
do
vy
3te
ts
283 386
170, 125
113,261
247, 688
1, 328
20, 454
1,219
18, 264
1,218
18, 196
5,004
471
151
138
694
379
5, 035
530
150
141
662
395
5, 240
577
140
171
579
398
5, 449
619
59
1, 633
110
130
344
273
360
49
1,857
126
144
331
261
366
125, 089
420 340
.1100
121,252
423, 395
.1100
99f, Q
'234
3
r
46.2
53.9
r 180 4
179 7
100.8
101. 1
' 444 i 444
237 0
55.2
181 8
103.8
1
.444
264, 708
161,320
103, 388
224, 580
260, 053
157,880
102, 173
225, 597
291 408
164, 484
126,924
252, 096
323, 9C3
187,779
136,124
278, 292
317,332
179,790
137,542
275, 979
380 981
222, 832
158,149
339, 278
407,615
247, 928
159, 687
370. 498
523, 140
375, 998
147,142
478, 103
457, 992
328, 354
129, 638
408, 424 *
361 679
236, 278
125,401
319, 672
1, 137
21,972
1,089
24, 581
1.207
26, 572
1,410
31,680
1,386
31,285
1,308
29, 767
1,449
32, 026
1,209
28, 679
1,330
27, 366
1,283
21. 841
5,685
586
125
190
714
633
5, 728
569
5, 365
549
5. 584
546
5, 887
532
125
161
748
544
163
136
731
442
211
157
786
421
4,490
444
168
116
674
376
4, 681
446
113
165
664
529
5,288
479
146
153
765
457
5, 423
494
111
169
664
572
152
142
715
365
r
T
273, 616
166, 975
106, 641
239, 881
192, 403
123,416
68, 987
\ 55, 000
185
178
178
166
122
82
108
80
71
63
1,674
1,738
1 519
1,496
1,481
1 539
1,657
1,347
123
127
473
411
292
112
120
437
475
3'ifi
99
111
384
445
375
94
125
353
607
394
1 . 357
113
116
438
393
314
107
140
373
690
423
74
95
350
242
322
1 331
140
116
481
266
264
95
109
326
342
351
103
108
346
580
359
110,291
434, 958
.1033
116.247
444, 137
.0892
1 10, 483
462, 577
. 0875
122, 336
474 966
. 0892
120, 434
435 681
. 1037
125, 138
451,744
.1092
120, 758
457, 748
.1000
126, 161
442. 371
.1000
125 296
469^ 227
. 1000
120,332
413. 265
. 1081
200.8
51.6
149.2
91.2
.417
205.4
51.4
J53.9
84.3
.417
196.5
51.2
1 45. 3
8(1 5
.417
226.2
56.2
170.0
93.0
.417
227. 2
53. 0
174. 2
96. (J
.417
216.3
47.7
168.7
94.9
.417
232.3
48. 1
184.2
102.0
1
.444
209.6
39.6
169.9
94.7
!.444
227.2
42.4
184 8
104.6
i 444
77, 340
r 74, 687
66, 551
r 51, 668
r
123
200
497
421
40
2 054
128
160
347
270
352
PALS AND PRODUCTS
. _ short ton s
long tons astings (N. Y.)--dol. per lb_.
lucts, shipments, total
mil. o f l b ....do— .
1©
do
do
ice mill
dol. per Ib
verable copper.—short tons.,
er including custom intake)
short tons..
..do.—
estic
do
ionth...
do
iniifactured. . ._ _ . . - . d o
do
scrap 9
-
-
-- - do. . do....
Ivtic (N. Y.) _-.dol. perlb--
domestic ore
ries) :
short tons
do
do
do.......
do
,ilverized (N. Y.) dol. per lb_.
ifrs. (lead content) 9
short ton 8_long tons.do--..
§
do -.
th, total§
do. ..
do
do....
do
(N. Y,)
.
do....
dol. perlb. ...
verable zinc
short tons
<io
.do....
do
do
le Western (St. Louis)
dol. perlb. .
tent)- . . . _ short tons
, and export 9 -..
do...
)tion :
..do.-..
. . ...
do....
r
65, 307
r
71, 276
f
68, 397
' 71,455 * 72, 959
r
'62.111
r
'71,215
27, 354
28,812
25,499
55,617
41, 155
14,462
. 2967
30, 472
34, 790
20, 533
14,257
.2967
r
24 946
26 202
T
27 6?4
29 34?
19, 043
43,214
31, 961
11,253
.2969
r
29 531
31 520
T
31,235
46, 547
32, 867
13, 680
.2970
29, 712
51 , 974
32,118
19,856
.2970
26 900
28 508
f 25 404
25 762
26, 046
81,833
35,316
46,517
. 2970
T
26 253
28 266
r
.1100
195 6
108 6
P i 456
97 806
133, 523
119 696
47, 108
24, 183
62, 228
30, 816
31, 412
.2970
27 121
54, 574
38 161
16, 413
2970
16 783
52. 388
32 740
19 648
2970
25 867
28 603
20 508
8 095
2970
18 883
42, 382
32 786
9,596
2970
297()
">o 364
2fi' 975
r 27 066
28 835
T 95 ooi
25 244
r 25 755
9(5 884
95 9n
29 107
9(5 597
29 646
46 506
37? 017
92 719
. 1500
48, 687
35, 007
81,152
. 1350
48, 518
37, 108
92, 496
. 1326
42, 046
36, 551
97, 981
.1282
50, 808
47, 837
100 927
.1294
46, 730
47, 161
100, 441
. 1390
49, 139
40, 183
109, 302
. 140(
42, 317
46, 987
104, 626
.1411
35 716
37, 195
93 030
.1400
44 089
43 402
84 429
. 1406
47 76^
30 891
93 358
. 1460
51 276
36 307
95' 496
.1497
46 711
34 913
94 387
. 1500
30, 587
43, 043
46, 957
52, 841
49, 126
62, 081)
64,014
41, 494
34, 020
31, 120
23, 536
3 5, 679
2,986
6, 182
3, 822
2,957
6,260
4, 060
3,232
6. 350
4, 230
3,804
7,190
4,720
3, 207
7,230
4, 850
2, 23f>
7,210
5,100
1,425
7,400
5, 100
2
194
6, 300
4, 500
2 232
7 000
4. 700
2 6°5
6 700
4 600
2 636
6 700
4, 300
9 439
0 700
4 300
32, 928
\ 8, 467
14,461
35, 674
22, 767
12,907
39, 389
26, 646
12, 743
38, 204
26 650
11,554
33, 371
22 152
11,219
19, 581
6 842
12, 739
12, 925
11 380
11,380
15 127
2 502
12 625
16 4Q]
12, 925
4 406
]9 085
17 024
4 255
12 769
1 3* 667
3,648
5,802
. 8461
2 781
6,176
.8483
2 417
3. 987
. 8504
i 346
5.413
. 9188
16
5, 828
. 9353
3 100
6, 859
.9421
414
3,924
. 9654
2 562
5, 487
.9338
2 *?86
4! 601
. 9354
1 808
«! 106
. 9304
6, 450
.9110
. 8857
38, 445
T 38, 141
34, 178
'35,511
38, 338
38, 329
39, 919
r
r
1 217
5, 021
. 9612
r
r
o
0
r
r
39, 637
' 39, 398
79,116
63, 896
55, 487
180,843
78, 561
60,692
54, 865
198,712
68, 020
66, 738
57,781
199, 994
71,186
70. 080
66, 929
201 100
70, 258
70, 618
67,152
200 740
73 654
64, 566
61,859
209 828
71 540
80, 244
72 262
201 124
70 749
73, 846
58 397
198 027
71 810
76,' 584
58 188
193 <753
. 1000
73, 246
4, 454
. 0976
66, 323
2, 455
. 0938
63, 908
6, 704
. 0964
77, 774
1,264
.1025
39,112
2, 054
. 1029
50, 847
45
.1096
128, 786
1,239
.1100
57, 827
194
.1100
56, 949
157
58, 292
10, 500
52, 419
11,449
48, 525
8, 679
61,332
15,178
21, 439
15,619
40, 594
10, 208
108, 776
18,771
37. 565
20, 068
45, 885
10, 907
42, 248
39, 915
40, 008
40, 391
r
60
77,
(54
175
137
885
548
505
. 1141
26,041
2, 214
67 047
90, 415
73 967
152 137
. 1150
22, 250
128
. 1129
' 79, 208 81,417
88, 732 ' 84, 546 ' 74, 731 T 81, 509 ' 77, 830 r 78, 626 ' 86, 119 7 76, 320 r 62, 047 r 69, 882 r 79, 231 r 97, 837
123, 296 Mil, 869 * 103, 933 r 118,065 ' 112, 937 M 08, 723 r 112, 474 ' 107, 193 ' 104, 693 ' 88, 786 r 92, 918 * 116, 135
112,244
77, 091
89,017
97 436
95, 795 104, 579 111,005 106,252
92 475
89 198 105 293 r us Q25
89, 193 r 108, 187 Ml 8, 720 r 126,470 r 124, 516 r 82, 124 r 69, 289 f 69, 077 r 58, 648 ' 48, 775 * 33, 290 r 37, 094
26, 41 6
32, 105
18, 960
13,145
. 2961
127, 035
9C)7«<
.1480
20.911
16 522
9 855
9 |(J9
T m) no T 85 164
97, 617 ' 95, 523
r 77 074 r 74 goo
1 34* 636 T 124 277
. 1150
31, 205
2,481
. 1150
.H727
86 106>
93, 202
TQ ggg
11" 181
.1150
12, 853
10, 602
17, 608
10, 974
11,520
11,116
l
2
Revised. T> Preliminary.
Specifications changed; not comparable with data prior to June 1954.
Production by secondary plants only.
(BData beginning January 1954 are based on a more comprehensive survey. Comparable figures for December 1953"(mil. Ib.): Total wrought products, 150.7; plate and sheet 90.9.
9 Revisions for 1952 imports are shown in the April 1954 SURVEY.
'
§ Substituted series. Compiled by the U. P. Department of Interior, Bureau of Mines; monthly data for 1951 and 1952 appear on p. 24 of the March 1954 SURVEY. Government stocks;
represent those available for industrial use.
r
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
1954
1953
December
February lfl;"»i
January
February
March
April
May
June
1955
July
August
Septem- October Novem- December
ber
ber
January
METALS AND MANUFACTURES—Continued
HEATING APPARATUS, EXCEPT ELECTRIC*
Radiators and convectors, cast ironic?
2,095
Shipments
thous. of sq. ft..
5,957
Stocks, end of month
do
Oil burners: t
44, 631
Shipments
number-76, 872
Stocks, end of month... . .- .
do ...
Stoves and ranges, domestic cooking, excl. electric:
Shipments, total
n umber. . 150, 392
5, 516
Coalandwood.
.
do
Gas (incl. bungalow and combination)
do _ _ . 134, 904
9,972
Kerosene, gasoline, and fuel oil
- -do
Stoves domestic heatinsr, shipments, total
do
Coal and wood
- .~
do. __
Gas
do
Kerosene, gasoline, and fuel oil
do
Warm-air furnaces (forced -air and gravity air-flow),
shipments, total A
- - number ..
Gas
do
Oil
-.do
Solid fuel
do .
Water heaters, gas, shipments* . do
2,041
6,126
1,896
6,292
1,732
6,906
1,738
7,453
1,745
7,696
2,208
7,903
1,937
7,438
3,315
6,765
3,217
6,478
3,354
5,915
2,700
5,400
46, 181
75, 110
44, 175
71, 251
48, 983
77, 203
50, 350
84, 276
52, 781
82, 995
68, 798
80, 845
65, 184
75, 345
90, 662
72, 238
102, 888
57, 306
101,916
53, 174
67, 660
53,978
151, 397
4,683
137, 768
8,946
168, 062
6,110
153, 515
8,437
203, 584
5,643
188, 519
9,422
186, 951
5,876
172, 762
8,313
176, 925
3,468
164, 228
9,229
187, 944
4,206
174, 806
8,932
145 829
4, 351
134, 896
6, 582
196, 180
6,294
180, 210
9 676
222, 839
7,708
204, 947
10, 184
216 956
7,320
197, 984
11 652
190 328
6, 652
174, 549
9, 127
103, 223
11,028
64, 070
28, 125
88, 689
4,471
40, 791
43, 427
74, .542
6,117
33, 364
35, 061
94, 395
7,242
44, 691
42, 462
126, 819
6,804
77, 109
42, 906
125, 981
6,474
76, 427
43, 080
180, 323
10, 935
111 796
57, 592
203
23
114
66
901
443
195
263
261 936
36, 879
156 343
68 714
351, 135
55, 091
205, 345
90, 699
417
66
257
92
185
824
606
755
284
37
195
51
688
823
337
528
63, 612
33, 495
27, 984
2,806
135, 054
57, 192
30, 927
23, 862
2,403
161,152
57, 217
30, 505
24, 267
2,445
171, 490
69, 280
39, 870
26, 827
2.583
184. 043
72, 488
43, 566
26, 882
2,040
196, 767
82, 462
49, 661
30, 210
2,591
191, 660
95, 359
57, 229
33, 923
4,207
202, 574
92, 463
53 116
35, 474
3 873
186, 528
130, 486
75 062
48, 655
6 769
202, 990
148, 370
82, 023
57, 503
8,844
201, 405
137, 820
79 022
50 963
7 835
198, 001
107
64
38
4
175
615
312
594
709
550
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly:
Blowers and fans, new orders
thous. of dol
Unit heater group, new orders
do
Foundrv equipment (new), new orders, netf
mo. avg. shipments, 1947-49= 100..
Furnaces, industrial, new orders, net:
Klectric processing
thous. of dol
Fuel-fired (except for hot rolling steel)
do
Machine tools (metal-cutting types) :
New orders
mo. avg. shipments, 1945-47= 100. .
Shipments
do
Pumps, steam, power, centrifugal and rotary, new
orders
thous of dol
Tractors (except garden), quarterly:*
Shipments totalO
do
Wheel tvpe (excl. contractors' off-high wav). .do
Tracklayine
do _
49, 495
13,661
43, 197
16, 699
37, 709
14, 840
62, 049
14, 586
161.2
173.8
99.9
82.7
125.3
80.8
86.4
68.8
75.6
68.3
147.5
61.4
113.9
909
1, 624
1,356
1,832
994
1,686
2,042
1,119
1,262
1,711
3,051
2,423
986
3,642
457
973
1 053
1 116
986
1, 'Ml
2 403
1 936
1 190
l' 534
1 246
4 100
149. 8
301. 4
173.5
319.4
159.8
323.1
169.6
327. 2
142.8
302.7
139.5
270.3
185. 2
276. 3
124.7
205 7
147.9
203 7
180.9
213 4
148.9
191 0
4, 645
4,057
4,272
5,093
5,319
5,007
5, 176
4 733
6 706
5, 050
3 828
149, 094
76, 524
66, 201
173, 955
105, 302
60, 207
211 686
123, 050
74, 731
r 119.
5
T 179 5
p 203. 2
p 9Q3 {>
155 588
81, 158
63 041
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), ship1,890
ments
thousands
Household electrical appliances, sales billed:
53. 1
Refrigerators, indexf - 1947-49=100190.8
Vacuum cleaners, standard type
thousands . .
191.6
Washers, domestic sales
do
i 1. 101. 1
Radio sets production!
do
Television sets (incl. combination), production!
1
449. 8
thousands-.
Insulating materials and related products:
Insulating materials, sales billed, indexf
133.1
1947-49= 100- _
Fiber products:
Laminated fiber products, shipments©
8,894
thous. of doL .
Vulcanized fiber:
3,571
Consumption of fiber paper
thous. of l b _ .
1, 405
Shipments of vulcanized products- -thous. of dol- 17, 756
Steel conduit (rigid), shipments*
thous. of feet-Motors and generators, quarterly:
] 44. 6
New orders indexf
1947-49=100
Polyphase induction motors, 1-200 hp:1
36, 341
Now orders
thous of dol
37, 804
Direct current motors and generators, 1-200 hp:1
7,883
New orders
thous of dol
11, 490
'
1,788
1,422
1, 194
1, 150
1,391
1, 834
2,288
2 481
2 728
2 667
95.0
221. 2
250.' 6
872.0
91.0
199. 0
295. 2
769.2
89.0
276. 5
307. 9
940.4
73.0
220.8
258.7
745.2
74.0
209. 4
246.9
722. 1
82.0
195.8
303. 5
837. 7
93.0
193.6
242. 9
438. 1
71.0
185. 4
293 2
785. 5
73.0
238.2
379.7
1
932. 3
51.0
263.2
339 2
997. 8
420.6
426.9
' 599. 6
457.6
396. 3
i 544. 1
307. 0
633.4
i 947. 8
921.5
858. o
124.0
120.0
136. 0
124. 0
116.0
124.0
92.0
111.0
123. 0
117.0
124. 0
8, 345
8, 160
9, 598
9,235
8,843
9, 521
7,739
8, 857
10, 337
9,528
M*
10,535
3, 346
1. 421
16, 133
3, 370
1,451
17, 230
3, 850
1, 535
20. 306
3, 266
1, 388
20, 770
3,431
1, 237
21, 784
3, 128
1, 236
26, 171
2, 566
1, 037
28, 544
3, 373
1,152
2
28, 076
3, 062
1,217
3, 251
1,301
27, 622
2, 964
1, 350
29, 645
3,794
1,540
1
1
2
2 27. (\\(\
1.52.0
153.0
1 30. 0
35, 208
36 304
36, 817
35, 675
33, 448
33 501
9, 533
9 131
7, 958
10, 183
6, 755
7 337
2
r 9
410
1 794
47.0
237. 9
217.0
9
64 8
308 4
1 098 7 i 1 2B1 6 j> | 0'"54 M
2
i 833. 4
p 602. 8
PETROLEUM, COAL, AND PRODUCTS
l
j
COAL
.Anthracite:
2,443
2, 680
1,939
2. 354
2,204
1,958
2,253 :
2,194
'2,500
2,226
1,877
2,117
2, 359
Production
_,
. _. .
--thous. of short tons.2,816
Stocks in producers' storage yards, end of month
1,244
1,405;
1,504
1, 656
1, 384
1,328
1,916
1,726
1,340
1, 252
1, 223
thous. of short tons. .
1, 293
1, 293
217
152
273 j
403
145
147
159
246
193
359
130
240
Exports
.- _ .
- do.Prices:
24.41
24. 62
24.66;
24.96
26.34
26.05
24.40
25. 19
26.36
26. 36
26.36
24.40
25. 40
Retail composite 9
dol. per short ton
13. 588
13. 588
15. 533
13. 713
13.836: 13.350 r 13. 507 M3. 655
15. 533
15. 533
15. 533
12. 850
13. 381
Wholesale, chestnut, f. o. b. car at mine
do
r
p
l
2
Revised.
Preliminary
Represents 5 weeks' production.
Data beginning July 1954 are for 13 companies; earlier data, 11 companies.
J Revisions for oil burners for January-July 1952 are shown in a footnote on p. S-33 of the January 1954 SURVEY; revised data for other items of heating apparatus will be shown later.
cf Data beginning June 1953 are compiled by The Institute of Boiler and Radiator Manufacturers and represent substantially complete coverage of shipments of cast iron radiators and convectors.
A Monthly total for 1953 reflects adjustment to the annual survey. Such adjustments have not been made for components; therefore, detail does not add to total.
*Xew series. For source of data and brief description, see corresponding note on p. S-34 of September 1954 SURVEY.
t Revised to reflect use of new base period. Comparable data for 1934-53 for all series (except for foundry equipment) appear on p. 28 of this SURVEY.
O Includes contractors' off-highway wheel-type tractors.
§Radio production comprises home, portable battery* automobile, and clock models; television sets include combination models. Data for December 1953 and March, June, September
and December 1954 cover 5 weeks; other months, 4 weeks.
©Data for December 1953 cover 18 companies; beginning January 1954, 19 companies.
IData beginning 3d quarter of 1953 for polyphase induction motors cover 33 companies; for direct current motors and generators, data Cor 4th quarter 1953 and beginning 2-1 quarter 1954
cover 27 companies, 1st quarter 1954, 26 companies.
9 Revised to represent weighted average price of anthracite stove based on quotations in f> cities as follows: Baltimore, Boston, Laconia (N. H.), Madison (Wis.), Middleiown ( C o n n . ) ,
and New York.
SURVEY OF CURRENT BUSINESS
February 1955
ise stated, statistics through 1952 and
lot os are shown in the 1953 Statistical
to the Survey
1953
S-35
1955
1954
December
January
February
March
April
June
May
August
July
Septem- October Novem- December
ber
ber
January
PETROLEUM, COAL, AND PRODUCTS—Continued
CO AI^- Continued
Bituminous: d*
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 . . .
Consumption on vessels (bunker fuel)
thous. of short tons..
Stocks, industrial and retail dealers', end of month,
total _
thous. of short tons. _
Industrial, total
Oven-coke plants..
_
Cement mills
_
Electric-power utilities
Railways (class I).
Steel and rolling mills
Other industrial...
. _
do
do.. do
._ ... - do. ..
.
do
do
. do_-_
Retail dealers
do
Exports
do
Prices:
Retail, composite!
dol. per short ton .
Wholesale:
Mine run, f . o. b. car at mine
do
Prepared sizes, f. o. b. car at mine
do
COKE
Production:
Beehive
thous. of short tons
Oven (byproduct)
do...
Petroleum coke 9
do
Stocks, end of month:
Bvproduct plants, total
.
_ - . ..do _ .
At furnace plants
do
At merchant plants
... do, ..
Petroleum coke
do
Exports.. . . - _
. ..
do.. Price, beehive, Connellsville (furnace)
dol. per short ton.,
37, 423
34, 055
29, 657
31, 456
28, 380
29,050
30, 660
27, 750
33, 305
34, 385
36, 610
39, 099
31, 956
446
8,339
754
10, 585
2,092
555
9, 185
7,143
39, 772
31, 436
258
8,050
735
10, 620
1, 939
566
9,268
8,336
32, 962
26, 560
106
6,901
624
8,798
1,610
476
8, 045
6,402
34, 134
27,969
59
7,298
676
9,614
1,601
532
8,189
6, 165
27, 958
24, 487
56
6,658
625
8,438
1,347
411
6,952
3,471
26, 477
23,831
47
6,811
641
8,435
1, 356
381
6,160
2,646
25, 535
23, 256
49
6,593
576
9, 029
1,254
339
5, 416
2,279
24, 937
22, 836
45
6,581
675
9,133
1,278
315
4,809
2,101
26,453
23, 585
52
6,427
693
9,568
1,384
306
5,155
2,868
27, 113
23, 491
56
6,396
674
9,456
1,233
320
5,356
3,622
30, 180 r 31, 538
25, 783 r 26, 996
' 54
46
7,438
7,246
719
740
10,435
10, 076
1,449
1,375
432
360
6,469
5,940
4, 542
4,397
4
5
29
52
62
55
47
47
54
47
20
80,614
75, 741
75, 194
72, 033
70, 595
69, 432
69,646
67, 186
68, 566
69, 690
70, 349
' 71, 032
69, 201
79, 075
16, 486
1,461
39, 770
2, 570
977
17,811
74, 531
14, 885
1,290
38, 090
2,432
931
16, 903
74, 029
14, 730
1,173
37, 969
2,350
887
16, 920
71, 146
13, 887
1,068
37, 468
2,167
830
15,726
69, 611
12, 856
1,071
37, 504
2,049
798
15, 333
68, 606
12, 596
1,090
38, 299
1, 839
740
14,042
68, 803
12, 659
1,144
39, 125
1,811
708
13, 356
66, 286
11, 125
1,123
38, 848
1,662
639
12, 889
67, 656
11,571
1,184
39, 708
1,657
621
12,915
68, 764
11,868
1,233
40, 462
1,597
612
12, 692
69, 455
12, 190
1,287
40,889
1, 496
614
12, 979
r
1, 540
592
13, 057
68 391
12, 335
1,311
39,711
1, 475
60f
12, 953
1, 5P>9
1, 210
1,165
887
984
826
843
900
910
926
894
923
810
1, 720
1,414
1,294
1,449
2,462
3,100
3, 136
2,832
3,333
2,940
3,526
3,092
14.98
15.04
19
15. 12
15.14
15.13
15.12
14.99
5. 716
6. 807
5. 681
6. 837
5.607
6.787
5.481
6. 429
5. 403
6. 375
280
5, 825
386
164
5, 634
387
64
4,824
325
35
5,110
395
2, 727
1, 682
1,045
172
29
2,751
1, 702
1,049
209
36
2,744
1,649
1,096
222
26
14.75
14.75
14.70
14.70
4. 538
6. 398
i 4. 525
2
6. 440
35
4,658
386
29
4,772
379
2,719
1, 525
1,194
269
29
2,860
1,579
1,281
299
24
14.75
14.75
' 37, 124
70, 109
12, 475
' 1, 373
41,072
37, 082
35, 500
29,713
66
7,995
775
11,633
1,544
506
7,194
5, 787
14.73
14.78
14.89
4. 506
6. 586
i 4. 498
2 6. 711
i 4. 493
2
6. 875
31
4, 609
371
30
4,591
420
40
4,476
412
35
4,456
410
29
5,053
45C
33
5,198
444
41
5, 570
3,012
1, 657
1,355
331
36
2,973
1,609
1,364
355
46
2,843
1,619
1, 224
384
25
2,856
1,624
'1,231
395
34
2,917
1,693
1, 224
402
14
2, 851
1,638
1,213
424
34
>• 2, 804
* 1, 597
r
1,207
375
33
2, 794
1 , 624
1,170
14.75
14.75
14.75
14. 75
14.75
14. 75
14.25
13. 75
13. 7f
1
2
1
2
1
2
15.08
4. 488 »• i 4. 484 p l 4. 484
2
6. 961 p - 6. 961
6. 955
PETROLEUM AND PRODUCTS
Crude petroleum:
Wells completed J
. - ... .. .number.
Production}
thous. of bbl
Refinery operations, ..
percent of capacity .
Consumption (runs to stills)
thous. of bbl
Stocks, end of month:
Gasoline-bearing in U. S., total
do. ..
At refineries
. .
do
At tank farms and in pipelines
do
On lease*.
do
2, 253
193,378
92
215, 892
2,599
193, 453
91
215, 366
2,169
178, 603
91
197,914
2,563
201, 702
88
214, 620
2, 486
198, 440
86
204, 336
2, 467
200, 593
89
218, 178
2,298
195,000
88
208, 408
2,867
194, 037
90
214, 402
2, 534
191, 190
87
212, 708
2,298
184, 527
88
208, 155
2, 370
190, 198
86
211,851
2,371
190, 367
8(
209, 244
276, 676
72, 738
185, 165
18, 773
270,811
70, 661
180, 876
19, 274
266, 918
70, 916
177, 242
18, 760
271,867
73, 068
180, 304
18, 495
280, 310
75, 852
185, 995
18, 463
282, 250
75, 503
187, 770
18, 977
285, 155
75, 187
191,055
18, 913
284, 894
74, 574
191, 352
18, 968
281, 043
70, 659
191, 374
19, 010
274, 608
67, 989
187, 674
18,945
269, 442
68, 292
181,678
19,472
266, 61 i
Exports
.. .._ . ... . . . . . . .do.
Imports .
.
do
Price (Oklahoma-Kansas) at wells
dol. per bbl_.
1,378
19,841
2.820
1,587
18, 009
2. 820
795
17,623
2.820
873
21,683
2. 820
1,418
17, 259
2. 820
1,258
20, 145
2. 820
1, 372
20, 441
2. 820
1,073
20, 379
2. 820
1,349
20, 454
2. 820
509
20, 053
2.820
1, 485
18, 451
2.820
1,047
20, 220
2. 820
67,814
179, 709
19, 093
P 2.~820
Refined petroleum products:
Fuel oil:
Production:
Distillate fuel oilt
thous. of bbl
44, 663 3 45, 474 3 43, 256 3 45, 204 3 41, 218 3 42. 531 341,966 3 43, 892 3 45, 048 3 45, 415 3 47, 890 3 48, 666
Residual fuel oilj
do
39, 398
38. 652
36, 222
34, 754
34, 215
35, 582
33, 691
33, 749
32, 569
33, 131
33, 593
33, 047
Domestic demand:
Distillate fuel oilj
do....
64. 013 3 74, 809 3 52, 840 3 54, 222 3 38, 269 3 28, 966 3 27, 440 3 26, 864 3 29, 494 3 32, 870 3 35, 002 3 51, 279
Residual fuel oilj
do
54,092
54, 976
48,902
46, 978
42. 392
38, 074
39, 417
39, 069
36, 139
37, 358
46, 085
43, 029
Consumption by type of consumer:
Electric-power plants
do . _ .
8, 285
7,619
5, 699
4, 783
6, 456
4, 250
4, 291
4,446
4,904
4,851
5,819
5, 316
7, 668
Railways (class I)§
do
8,534
7, 839
7, 595
7, 230
7,819
6, 921
7, 7CO
7,835
7, 660
7,730
7,818
8, 192
Vessels (bunker oil)
do.
6,031
6, 612
5,494
5, 985
6,381
6, 289
6, 378
6,475
6,331
5,928
6,119
5,981
Stocks, end of month:
Distillate fuel oil.. ... . _ . _- do.
111,944 3 81, 044 3 70, 390 3 60, 270 361,721 3 73,58i 3 86, 325 3 101, 657 3116,529 3 128, 061 3 139, 128 3 133,886
Residual fuel oil..
. . . . ...
do
47, 474
49, 370
47, 119
44, 249
44, 362
47, 009
50,216
54, 365
56, 702
56, 332
56, 541
54, 891
Exports:
Distillate fuel oil .
do
2, 362
1,616
1,275
1,911
1,516
2, 176
1, 992
1,434
1,711
1,525
2, 170
2, 715
Residual fuel oil
do
1,514
1.365
1,756
2, 106
1,637
1, 793
2, 006
1,546
1,883
1,580
1,275
1,771
Prices, wholesale:
Distillate (New York Harbor, No. 2 fuel)
dol. per gal
.095
. 095
.100
.095
.097
.092
.092
.090
. 092
.092
.096
.096
» . 102
r
Residual (Okla., No 6 fuel)
dol ner bbl
1.450
1. 500
1. 450
1. 150
1.200
1.100
l.COO
1.000
1.150
L150
1.350
1. 250
P 1. 400
Kerosene:
3
3
3
3
3
3
Production
thous. of bbl
3
11,704 3 12, 086 311,542 3 10, 943 3 9, 665
9, 350
9, 177
9, 156
9, 357
9,018
9, 596
10, 619
3
1 >omestic demand J
do
18, 229 3 18, 287 2 12, 682 3 12, 990
6, 893 3 4, 861 * 4, 537 3 4, 920! 3 6, 196 3 6.555' 3 9, 261 3 12,748
Stocks, end of month
do
29, 070 3 22, 013 3 20, 183 3 17, 533 3 19, 656 3 23, 892 » 28, 184 3 31, 953i 3 34, 949 3 37, 099 3 37, 140 3 31, 547
Exports
do
418
623
609
564
584 j
158
229
398!
80
250
188
428
Price, wholesale, bulk lots (New York Harbor)
.105
dol per gal._i
.105
.110)
.107
.105
.102
.102
.100
.100)
.100
.104
.104!
P. 110
r
Revised.
* Preliminary.
' Price
for screening s for industrial use to indust rial consu mers; not compara 3le with c ata throu gh April 1954.
2 p rice for la
3
dome stic sixes; not comparable with data through April 1954.
Beginning Ja nuary 1954, jet fuel (formerly included with gasc)line, kerc sene, and distillate fuel oil) i s excluded . Jet fue rge
I for Nov(>mber 195 4 (thous.
bbl.) : Production— from gasoline, 2,992, from kerosene, 8 44; from d istillate, ,372; domes tic demaiid, 4,076; stocks, 3,0 52.
c? Revisions for January-September 1952 and January-Octobe r 1953 wil be showr later,
t Revised series, Data represent weighted averages based on quotatio ns in 26 ci ties for al sizes of b ituminou s coal,
9 Includes nonmarketable catalyst coke. Such prod uction foi• January-Novemb er 1954 is as follow s (thous. short ton s): 156; 12 2; 139; 138 ; 130; 143; 186; 176; 1 64; 172; 1 76.
J Revisions for 1952 appear on p. S-35 of the Februarv and Ma rch 1954 is sues of th R SURVEY
fU6i purchased by class l railwa s
Com nrah^dda°t^
y " ( incl - switching and terminal companies), whether for locomotive, station, shop, or other use.
SURVEY OF CURRENT BUSINESS
S-36
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
1953
December
February 1955
1955
195 4
January
February
March
April
June
May
July
Novem- DecemAugust Began,- | 0rtoN , r
ber
ber
January
PETROLEUM, COAL, AND PRODUCTS—Continued
j
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products — Continued
Lubricants:
Production
thou^ ofbbl
Domestic demand t
do
Stocks refinery end of month
do
Exports
do
Price, wholesale, bright stock (midcontinent,
f o b Tulsa)
dol p e r s a l
Motor fuel:
Gasoline (including aviation) :
Production total 9
thous ofbbl
Gasoline and naphtha from crude oil 9
thous ofbbl
Natural ^asoline u^ed at refineries
do
Natural gasoline sold to jobbers P
do
Domestic demand 9
Stocks, end of month:
Finished gasoline
At refineries
Unfinished gasoline
Natural gasoline and allied products
do
do
do
do
do
1
4 572
3, 041
10 070
1. 193
4 408
2 994
10 472
965
2 720
10 646
1 188
4 36
3, 579
10 385
1 , 002
. 195
. 190
. 190
. 190 j
112,473 i 106, 373
Asphalt products, shipments:
Asphalt roofing, total
tbous. of squares
Roll roofing and cap sheet:
Smooth surfaced
_
_ . _ do _
Mineral surfaced
do
Shingles all types
do
Asphalt sidings71
do
Saturated felts d
-.short tons
1
97, 330
1
4
3
9
1
204
321
745
456
4 5Qp,
3* 208
9 764
1 281
4 5Q8
3. 189
9 599
1 429
4 3gQ
3,419
9 251
1,264
4 563
3, 374
9, 035
1,341
4 522
3, 308
<* 230
1*67
4 475
'5.2^5
(« ] i
1,180
4,470
3, 086
9,475
1,035
180
. 180
. 180
.180i
.180
. ISO
. ISO
.180
104, 612 i 102 120
99 525
9, 873
3 075
1
94 336
9 633
2 404
i 85 244
8 987
3 099
100, 225
1
89 852
i 86 206 i 101, 549
i 90 074
8* 861
3 185
i 91 851
9 240
3 5^1
1
1
107, 952
1
95 241
9 441
3 270
103, 866 i 104,418
1
104,181 i 107, 893
1
91 956 i 95 092
9 423
9 828
3 102
2 973
1
108, 250
113.037 i 112, 231 1 110, 223
151, 129 i 163, 532 ' 172 207 173, 060 i 168 301 i 168 660 i 156 526 i 149 045 i 144,615
86, 761 i 97, 997 1 106, 821 i 104, 344 1 99, 155 i 96, 241 i 85, 569 1 79, 989 i 77,159
8 172
8, 820
8,553
8 237
7 743
8 705
8 946
8 878
8 965
10 428
10 334
11 447
15 379
13 871
14 998
10 575
12 995
15 703
p. 180
105. 325 i 107,167 i 105, 89G
1
1
92, 126
10. 487
2,712
93, 595
10.612
2, 960
i 92, 249
10, 604
3,043
104. 706 i 105, 607 i 102, 393
!
142, 437i 141,046 * 142, 163
i 74, 786 i 73, 571 i 74, 291
8,441
8,479
8. 61 5
15 868
1 5, 358
15 168
0
056
2 084
2 204
2 384
.105
.125
.217
.105
.125
.213
. 105
. 125
.213
.105
. 125
.213
7 857
6,393
10 984
5 472
7,966
6,272
9,899
5 803
7,642
6,127
9. 289
5 420
7, 924
6, 209
* 9, 727
' 6 053
7, 868
6,090
9,506
5 730
7, 775
9, 579
8,850
8,542
8,726
7,150
7, 999
5,912
7,413
5, 702
5,371
6,165
474
663
409
609
433
597
408
571
453
567
450
572
485
589
4,923
5,374
6, 484
5,251
6,029
7. 062
6. 088
5,108
3,094
1, 005
1,011
2,907
113
58, 865
1,021
1,076
3,277
114
76, 110
1,146
1,301
4,029
151
89, 56
978
1,110
3, 162
115
69, 903
1,139
1,324
3, 566
147
73, 797
1,349
1,553
4. 160
153
91.088 ,
1,233
1,319
3, 537
144
73. 069
975
1,138
2, 996
125
70, 798
554
655
1, 885
86
55, 553
2, 701
2, 644
4 854
1 954
9 9f)"[
1 23"
.111
.137
.218
.108
. 135
.216
.108
. 135
.216
.108
135
.214
. 108
135
.218
.108
135
.216
7, 070
6, 230
10, 172
5 498
7, 245
6, 156
10, 773
5 759
6, 991
5, 580
11 099
5 380
7, 359
6 220
11.486
5 719
7 209
5. 806
11 685
5 582
7, 567
6,569
12, 400
6 632
7, 990
7,157
10, 637
5 301
3, 888
7,314
3, 447
8,370
3 956
9. 589
4. 895
10, 970
5, 392
11, 530
6,888
11,383
420
538
442
598
420
619
478
644
434
612
2, 698
2,565
2,846
3, 824
596
661
1,441
107
48, 872
573
673
1, 319
89
47, 989
637
670
1,540
94
93, 417 i
l
806
843
2, 175
116
55, 760
. Ill
. 141
.220
1
i 94, 798
10, 334
3,118
1
9 3;)9
Prices, gasoline:
Wholesale, refinery (Oklahoma, group 3)
dol. per gal.. _
Wholesale regular grade (N Y)
do
Retail, service stations, 50 cities
do
Aviation gasoline:
Production total
thous ofbbl
100-octane and above
do
Stocks total
do
100-octane and a,bove
do
Asphalt:©
Production
do
Stocks refinery end of month
do
Wax:0
Production
do
Stocks refinery end of month
do
7
4 991
. 105
135
.214
•P. 105
P. 2Ki
125
•
PULP, PAPER, AND PRINTING
VOOiy AND WASTE PAPER
r
2,220
2,157
5, 639
2, 393
2,387
5,639
2,388
2, 197
5, 835
2,292
2,473
5, 672
2, OCO
2,371
5 288
2, 035
2,457
4, 867
2, 308
2,475
4,699
2,304
2,266
4 737
2,488
2,515
4 708
2,487
2.414
4 794
646, 134
620, 455
478, 791
620,217
648, 266
454, 246
628, 731
639,813
443,016
719,354
716,052
447, 363
686, 600
668, 050
462, 590
662, 742
672, 590
453, 259
692,151
696, 500
447, 988
593. 086
576, 537
466, 326
670, 672
694, 972
440, 130
671, 957
683. 164
419, 126
679, 893 «• 682, 749
702, 283 r 678, 695
414, 332 T 422, 740
677, 954
650, 960
451, 863
1,337
ies
thous. of short tons
r
45,016
ind special alpha
short tons
aper grades)
. . . ...
do . . 720, 957
184,693
aper grades)
do
34, 343
do
d . _ __.
.
. . do. . - 191,255
82, 766
exploded, etc. _ _ _ _ _
- . ..do
Ip at pulp mills, end of month :
Ies __ _ _
_
. short tons - 148,629
41,252
>aper grades)
- do. .
32, 808
aper grades)
do
2, 957
do
27, 298
)d
. . . .
__do-
1,487
59, 370
808, 709
201,593
38, 590
201,614
82, 246
1,362
61,837
735, 3C3
182,715
35,213
185,446
76, 057
1,541
63, 338
832, 420
210,086
40,182
209, 157
80, 987
1,484
56, 703
792,919
199, 339
37, 841
200, 064
96,615
1,574
60, 742
854, 198
204, 781
39, 831
202,487
107, 026
1,562
64, 784
841, 999
200, 217
40, 123
202, 546
108, 715
1,416
55, 302
743, 809
182, 706
27, 634
193, 596
105, 428
1,605
71, 702
865, 602
207, 051
38, 769
203, 727
105, 102
1, 505
61. 825
802, 452
1 95, 329
31. 407
200,111
104,055
1,686
74. 840
921. 247
208, 075
34, 620
210, 356
109. 301
1,635
75 558
891, 867
199, 166
r
35 369
r
207,
820
r
104, 053
1,493
71, 775
779,533
190, 937
33 068
203, 699
102, 368
155,081
42, 188
33, 457
3, 754
28, 436
159, 946
44, 248
32, 363
3,657
21), 056
164, 003
44, 329
33, 262
3, 608
29, 494
161,745
43,819
33, 020
3,388
29, 965
178,010
52, 093
37,351
4, 373
30, 851
188, 667
53, 150
41, 138
4, 873
28, 707
174, 276
51,060
33, 876
4, 315
26,289
177, 846
49, 317
33, 518
4 008
25, 218
176, 083 182. 082
49. 791 1 57! 239
36, 929 i 38 384
2 995 •
2 777
22. 749 j 21,251
r
158, 515
44, 494
32 020
2 975
18,289
f month
thous. of cords (128 cu. ft.)
....
do.....
do
_ short tons.
do
do
f month
2, 557
'r 2, 579
4 840
2,645
2,428
5 058
WOOD PULP
des total
do
des, totalcf
id special alpha
)er grades)
.
_ _
do
. - __do
do
- . do
do.
do
R AND PAPER PRODUCTS
28, 965
14,291
19, 675
26, 896
24, 229
34, 328
30, 680
59, 623
44, 894
177, 164
17, 232
76, 627
57, 990
3,297
20, 862
144,813
16,210
60,617
46, 507
3,048
16, 793
171, 821
18, 302
74,031
54, 606
2,912
21 , 360
178,770
20,451
76, 531
57, 522
3,502
19,301
152, 845
22, 309
66,210
45,513
2, 555
15,866
150,868
17,823
63, 66C
47, 105
3,287
18, 710
192, 698
21,413
89, 151
60, 188
3, 585
17,043
163, 559
20, 340
78, 867
43, 738
2,477
17, 670
172, 705
18, 178
80, 693
48. 551
3,154
21, 117
i
i
i
49, 790 '
44 131
39 392
] 71, 727 174 891
22. 724
16 881
72 923
83 849
51.432
51 624
3,876 !
3 201
19. 951 • 18 548
206 427
19, 078
88 053
68 646
3,018
26 028
aaperboard mills:
i per board production, total
2,238
2, 043
2,303
2,272
1,991
2,023
2,164
2,186
2,288
2,214
thous. of short tons_1,094
1,012
1,136
1,066
1,014
973
1,117
1,C78
1,074
buildiiig paper)
do
1 090
1,045
1,030
1,041
923
891
996
986
916
1,040
i
do
993 !
106
130
126
95
101
133
126
127
132
card.... .
do
131 ;
r
Revised.
* Preliminary.
i See note "3" On p. S-35.
J Revisions for 1952 appear on p. S-35 of the February and March 1954 issues of the SURVEY.
9 Revisions for 1952 (old basis) appear on p. S-36 of the February 1954 SURVEY; revisions for 1952 (comparable with data for 1953) will be shown later.
§ Revised effective with the October 1954 issue of the SURVEY to cover items indicated.
©Asphalt—5.5 bbl. = l short ton; wax—1 bbl. = 280 Ib.
d" Revisions for 1951 for saturated felts and 1952 for wood-pulp imports will be shown later.
195, 442
61 184
42 645
2 760
r
20, 852
2. 367
1 150|
1,077
140
r 2, 294
2,170
1 110 1 068
1 051
979
133
123
r
.21
SURVEY OF CURRENT BUSINESS
February 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Survey
ber
S-37
19 54
January
February
March
April
May
1955
DecemAugust SeptemOctober November
ber
ber
July
June
January
PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCTS— Continued
Paper, excl. building paper, newsprint, and paperboard (American Paper and Pulp Association) :t
Orders, new
short tons
Orders unfilled end of month
do
Production
do
Shipments
_ _ . . _ do
Stocks, end of month
do
Fine paper:
Orders, new
do
Orders, unfilled, end of month
. _ -do
Production
do
Shipments
do
Stocks end of month
do
Printing paper:
Orders, new
do
Orders unfilled end of month
do
Production
do
Shipments
do
Stocks end of month
do
Price, wholesale, book paper, "A" grade, English
finish, white f o. b. mill
dot, per 100 Ib
Coarse paper:
Orders, new
short tons
Orders unfilled end of month
do
Production
do
Shipments
do
Stocks end of month
do
Newsprint:
Canada (incl. Newfoundland):
Production
do
Shipments from mills, .
do
Stocks at mills, end of month
do
United States:
Consumption by publishers
do
Production
do
Shipments from mills
do
Stocks, end of month:
At mills
do
At publishers
do
In transit to publishers
do
Imports
- do
Price, rolls, contract, delivered to principal ports
dol. per short ton
Paperboard (National Paperboard Association):
Orders, new
_ __
_.
thous. of short tons
Orders unfilled end of month
do
Production, total
. .
do
Percent of activity - -...
-Paper products:
Shipping containers, corrugated and solid fiber,
shipments t
_ _ m i l . sq. ft surface area
Folding paper boxes, value:
New orders
1947-49= 100Shipments
do
818, 131
589, 958
838, 559
834, 170
406, 868
875, 002
684, 558
883, 841
884, 315
394, 618
800,817
561, 091
832, 975
817, 427
406, 158
939, 598
592,116
927, 526
916, 598
412, 529
843, 494
547, 633
874, 583
878, 354
410, 021
841, 999
533, 638
866, 681
858, 755
417, 941
882, 399
540, 558
869, 849
872, 942
414, 271
814, 525
587, 819
758, 760
756, 126
410, 562
96,009
49, 334
104, 122
100, 360
99, 271
102, 345
56, 967
103, 041
106, 930
92, 357
100, 984
58, 725
102, 297
101,987
93, 035
114, 482
57, 995
115, 847
110, 927
95, 555
108, 483
57, 500
111,501
109, 879
97, 819
108, 140
56, 305
110, 232
107, 488
99, 287
110, 655
54, 190
113, 292
112,059
100, 256
302, 577
311,864
289, 628
290, 655
159, 614
298, 488
291, 065
306, 062
304, 21 2
161.460
265, 291
268, 590
283, 994
279, 074
166, 420
342, 798
294, 740
322,188
323, 037
165, 570
279, 943
258, 238
303, 684
311,678
157,576
287, 338
249, 515
298, 138
300 216
155, 498
13.80
13. 80
13.80
13. 80
13.80
260, 949
121,145
279 291
281, 243
76, 356
293, 628
126, 855
297 093
290, 916
85, 460
272, 375
127, 052
278, 203
271, 865
86, 525
296, 475
124, 040
302, 944
297, 929
88, 295
473, 325
488, 571
111, 244
476, 151
452, 470
134, 925
457, 927
437, 780
155, 072
388, 237
89, 656
90, 240
363, 057
96, 284
95, 132
8,026
477, 800
73, 969
149, 804
881, 041 867, 980 ' 889, 447f 871, 786
609, 967 612, 394 »• 603, 520 ' 587, 348
888, 960 '"861,811 ' 915, 483 * 889, 438
880, 206 856,917 r 907. 515 r 881, 555
421, 584 428, 204 ' 431, 529r 447, 029
946, 000
609, 000
894, 000
895, 000
431, 000
97, 310
64, 215
91, 363
91,221
98, 804
106, 820
63, 587
112, 279
106, 813
104, 741
108, 552 ' 116, 182 '114, 116
63, 230 ' 62, 695 ' 49, 457
110, 331 'r 119, 167 ••116,306
107, 736 r 113, 389 r 111,713
109, 274 110,361 '110,627
116, 000
55, 000
112,000
110, 000
107, 000
320, 207
265, 175
299, 890
304, 524
149, 540
292, 019
292, 305
256, 760
255, 785
150, 515
297, 809
295, 870
308, 034
306, 948
151, 600
307, 601 r 308, 605
302, 427 »• 294, 558
299, 596 r 311, 139
297 900 r 310, 482
153, 295 7 153, 952
351,000
324, 000
322, 000
326, 000
149, 000
13.80
13.80
13.80
13.80
13.80
276, 225
117,975
276, 575
277, 423
85, 870
273,217
112, 185
283 596
278, 859
91. 116
278, 907
111,330
285 178
279, 933
97, 445
265, 092
120, 685
252, 002
249, 880
95, 198
302, 502
140, 375
293, 602
289, 863
99, 898
283, 590
138, 597
281, 316
280, 946
99, 935
515, 482
481, 487
189, 067
500, 199
503, 292
185, 974
497, 221
497, 561
185, 634
490, 726
523, 966
152, 394
503, 979
481, 686
174, 687
503, 145
518, 844
158, 988
491, 153
482, 559
167, 582
525, 996
541, 835
151,743
522 109
542, 994
130 858
500, 119
505, 987
124, 990
345, 642
88, 197
86, 219
400,311
98, 115
100, 585
414, 877
89, 839
88, 968
422, 157
96, 670
98, 716
384, 444
96, 564
96, 148
338, 471
96, 324
96, 597
360, 825
99, 492
98, 503
388, 321
96, 592
98, 202
437, 191
110,328
107, 407
420 422
106 479
107 920
407, 980
109, 217
111,526
9,178
470, 536
88, 739
356, 455
11, 156
488, 503
96, 457
391, 503
8,686
495, 871
85, 178
454, 297
9,557
484, 226
81, 181
399, 824
7,511
446, 739
72, 300
410, 631
7,927
453, 407
80, 566
438, 833
7,654
481, 612
71, 086
393, 102
8,643
508, 703
66, 199
434, 103
7,033
490, 256
64, 769
396, 943
9, 954
448 907
77, 057
415 231
8,513
434 131
88, 372
455, 406
6,204
439 446
76, 917
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125 75
P 125. 75
1,011.2
3y2. 4
992.2
885.4
330.8
939.7
921.7
321.0
926.8
1, 140. 4
424.9
1,064.4
997.4
369.1
1, 014. 6
1, 086. 6
364.2
1,056.5
1, 033. 1
359.8
1,054.6
964. 3
390.3
916.8
1, 044. 0
330.7
1, 068. 5
1, 069. 0
428.8
1, 004. 1
1, 092. 4
390. 5
1, 105. 7
1, 078. 9
343 2
1, 102. 1
1, 067. 3
r
363 0
1,055. 1
79
89
89
90
88
90
89
74
92
r
88
r
r
r
r
r
292, 438
290 372
302, 431
303 333
153 050
13 80
13. 80
285, 726 r 290, 976
r
136, 413 r 132 933
r
301, 887 T 297 084
r
302, 127 T 297 316
T
98, 741 r 96, 024
297, 000
133, 000
288 000
292, 000
94, 000
13.80
r
r
94
93
82
6, 356
5,815
5,966
7,153
6,952
6,714
6, 785
6,250
7,010
7,242
7,626
7, 195
7,051
156.4
155.8
174.0
163.7
182.3
167.9
214.7
185.0
198.6
182.2
164.5
165.1
203.1
179.9
173.7
159.9
199.8
183.9
194.1
180.0
187.2
186.9
168.0
177.2
179.8
168. 2
974
789
185
826
650
176
878
707
171
1,102
1,101
1,391
1,101
781
644
137
923
714
209
802
661
141
888
754
134
1,408
1,198
941
811
130
860
701
159
1,020.3
450 7
1, 013. 5
92
PRINTING
Book publication total
New books
"Njp-yp editions
--
number of editionsdo
do
855
247
894
207
290
I
210
971
771
200
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
long tons
Stocks end of monthdo
Imports, including latex and guayulej
do . _ _
Price, wholesale, smoked sheets (New York)
dol. per lb._
Chemical (synthetic):
Production
long tons
Consumption
do __
Stocks end of month
_ _
do
Exports
-_ -_
-do_ -_
Reclaimed rubber:
Production
do
ConsumDtion
do
Stocks, end of month.
__
do
42, 400
112,316
45, 947
46, 960
112, 679
47, 140
46, 897
115, 228
42, 645
53, 709
112, 829
47, 721
51, 451
106, 564
49, 855
51, 398
104 377
55, 983
54, 253
104 541
66, 698
37, 894
109 564
40, 614
38, 069
124 810
59, 124
52, 412
119 191
48, 618
.209
.204
.200
.203
.214
.213
.231
.244
.231
.241
59, 373
50, 902
175, 845
2,643
57,299
50, 173
180, 839
1,397
53, 356
49, 060
183, 405
2,103
55, 835
56, 060
184, 284
2,923
47, 581
53, 654
174, 983
2,358
46, 554
52, 628
167, 583
2,759
45 954
57, 195
157, 172
2,032
46, 964
41, 552
162, 944
3,228
48, 807
42, 051
170, 159
3,018
51 384
53, 878
161 662
2,161
21, 208
18, 868
32,319
19, 960
19, 114
31, 865
21, 000
19,461
32, 393
23, 305
22, 882
32, 148
21, 628
21,883
31. 359
21, 184
20, 536
31, 105
22, 207
22 321
30, 845
17, 907
16, 301
31, 304
15, 444
17, 660
27, 692
22 332
19 926
29 632
6,482
5,663
2,617
2,902
6,299
7,002
2,891
3,993
7,042
6,308
2,634
3,557
7,981
7,629
3,163
4,350
8, 065
8,243
3,131
4, 935
7,965
8,319
3,020
5,115
8 796
9 079
2,890
6,029
6,360
8,885
2,782
5,949
5,427
8,080
2,527
5,429
14, 977
123
15, 706
15, 709
16, 077
15, 906
15, 504
155
7 279
6 269
1,601
4, 537
178
193
15, 218
12, 640
9,985
80
167
136
116
11, 184
6,399
6,013
10, 869
6,266
6 001
11,234
5,909
6 002
11,170
5 739
6 631
10 379
4,132
6 257
8 429
3,773
5 748
6,588
67
73
55, 191
55 970 r 53 326
115 970 ' 105 025 102 458
45 474
49 432
r
.265
.273
.288
018
287
Q05
908
58 456
63 509
150 298
23 444
22 098
30 395
22 915
T 22 321
T 29 451
25 568
24 275
31 199
7 869
6 266
1, 8«8
4,251
7 626
r 6 842
3 124
r
3, 560
8 444
7 347
3 707
3,470
12, 799
13 676
14 774
3 953
3 087
8 313
3 246
2 681
r g 706
62
3 201
2 569
9 299
69
55 644
55
58, 309 r 57
161 167 r 156
3,294
2
r
.325
TIRES AND TUBES
Pneumatic casings: d1
Production
Shipments total
Original equipment- Replacement equipment
Export
Stocks, end of monthExports
Inner tubes: cf1
Production
Shipments
Stocks end of month
Exports
thousands
do
-do
do
- -do
do
do
- _ _ - _ _
r
.
do
do
do
do
143
118
137
106
4,537
4 622
11, 874
5,395
6,834
10, 107
68
50
117
119
5,896
5,617
10, 448
61
116
49
176
89
184
104
160
68
130
131
4 490
4 034
7 179
65
147
120
158
169
147
Revised.
P Preliminary.
\ Revisions for 1947-April 1953 for paper will be shown later; data prior to 1947 for unfilled orders and stocks of paper are on a different basis from revised figures, hence not comparable.
Revisions for January 1952-February 1953 for shipping containers and for various months in 1952 for rubber imports appear in the May 1954 SURVEY.
<? Data for production, shipments, and stocks have been revised beginning January 1953. Revisions prior to June 1953 are available upon request.
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through 1952 and 1953
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Survey
ber
February
1954
January
February
March
April
• ~r "•
May
i ""
June j
July
August
Septem- October November
December
January
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments
reams..
187, 434
166.452
158,773
179,124
163,553
162,256
177. SIR
142, 262
151,217
173, 046
169, 267
167, 960
171, 087
20, 243
84
14, 130
16 895
78
15 202
27, 562
10 091
20 097
83
18, 751
28, 905
11 925
21 730
93
23 589
27 045
11 681
93 279
96
24 911
25 412
10 392
22 802
97
28 632
19. 609
8 585
25 467
10*>
27 628
17 451
7 203
25 681
103
28 802
14 403
6 029
25 549
106
29 062
10 901
4 720
25 887
104
27 133
9 660
3 806
23 841
99
22 781
10 720
3 589
%> 290
19, 231
5, 349
17, 769
74
11, 143
25, 869
8 240
456, 985
380, 495
377. 536
294 766
376. 203
382 387
473, 662
460 448
514, 238
532 442
522, 589
527 964
554, 413
588 209
537. 984
573 536
582, 952
586 532
576, 185
589 340
561, 190
571 103
557, 097
548 588
PORTLAND CEMENT
Production
. , _
_
Percent of capacity
Shipments
Stocks, finished, end of month
Stocks, clinker, end of month . .
thous. of bh]
thous. of bbl
- do
do
r
16 373
CLAY PRODUCTS
Brick, un glazed:
Production!
thous. of standard brick
Shipments t
do
Price, wholesale, common, composite, f. o. b.
plant
dol. per thous
Cla,y sewer pipe, vitrified:!
Production
_. ._
.
. ^ short tons
Shipments
do
structural tile, unglazed:?
Production
_ . . do
Shipments
..
.
do
P 28 430
28. 147
28 033
°8 033
28 033
28 151
28 151
28 151
28 193
28 289
9,8 382
28. 382
r 28 430
132. 725
95, 623
118.054
1 23, 951
100 596
1 45, 251
129 280
138 364
143 050
136 696
139 563
151 249
150 497
135 475
153 426
148 594
162 363
156 115
157 590
148 169
153 246
148 573
140 320
76, 84-1
02 907
67.871
72. 370
64. 521
81,025
55. 146
77 972
83, 21 1
80 703
83, 272
81 331
86, 670
83 562
83, 890
78 663
84 626
80 906
81 278
77 095
81 367
79 160
79 699
71 874
9, 328
9, 765
10. 009
8 820
9, 748
8, 455
11,200
11.923
10, 751
9,291
11,548
11,219
10, 958
10, 810
9. 878
11,386
10, 839
11 018
9, 883
10 634
10, 843
10, 079
9, 252
9 164
749
805
779
1, 364
1, 145
1,365
1,037
925
1 098
1 511
1, 121
829
7<i7
2,649
2, 843
2,593
3,392
2,519
2,869
2,803
2,948
3,724
3,211
3,033
2, 670
2.514
1,139
727
1,019
2. 305
744
433
347
514
937
2,262
600
916
1 . 358
3,013
1,096
184
776
817
923
1,985
933
193
1,003
1, 168
1 051
2, 255
932
196
1,268
1,234
1 033
2. 398
971
214
912
1 133
856
878
234
350
549
913
2,175
930
166
2.039
848
217
525
900
950
2, 512
1 023
286
343
677
1 165
2,412
1 012
303
325
586
1 408
2, 360
1 003
243
310
561
1 304
2 301
9^4
245
506
677
1 01 9
2 282
777
289
10, 932
11,520
12,563
11,991
13. 099
13, 745
13, 708
14, 329
14, 360
13, 299
13, 684
13, 423
12, 8<i2
4,124
3 914
5, 1 80
4 399
H)! 356
5, 355
5 064
9. 980
6.067
6, 075
6 152
9, 852
5, 651
6 225
9* 297
4, 963
5 39Q
R. R.50
3. 943
5, 131
5 654
10 272
4 fjj(5
8 751
8 652
5,122
4 768
9*, 036
5,780
10,184
6 270
8 535
5. 489
4 888
9! 1 81
4, 568
4 237
9, 450
2, 444
2, 750
3. 122
3, 802
3,148
2,987
2.827
2. cm
2,966
3,503
4,175
3, 180
2, 853
84 965
GLASS PRODUCTS
('lass containers:
Production
. ...
thous. of gross
Shipments, domestic, total
. . . . . . . do General-use food:
X arrow-neck food
do ..
Wide-mouth food (incl. packers' tumblers,
jelly glasses, and fruit jars)
thous. of gross.
Beverage (returnable and nonreturnable)
thous. of gross. Heer 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 dozensShipments
do
Stocks
do
Table, kitchen, and householdware, shipments
thous. of dozens- -
5 9]3
8.494
8 824
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:
TTncalcined
short tons
Calcined:
For building uses:
Base-coat plasters
do
Keene's cement. _ _ _
_ do
All other building plasters
do
Lath
thous. of sq. ft
Tile
do
Wallboardd*
do
Industrial plasters
short tons
0
737
2.139
1 , 789
* 508
1 , 854
1 . 690
692 260
409 354
« 10.968
"216.489
r
9ft]
1.894
2,070
547.39S
687. 950
733, 922
372 016
1 0. 909
437 736
12, 251
224, 711
634, 857
7 668
493 276
13, 984
266 419
688, 526
8 335
1, 070 718
60 138
193.391
« 602. 239
7 437
948. 798
61 , 008
1, 140
2,381
S81
r 9
51 7, 846
6. 71 0
935 205
1)4, 018
1,044,226
62, 087
TEXTILE PRODUCTS
APPAREL
Hosiery, shipments
_ _ thous, of dozen pairs. „
Men's apparel, cuttings:* ^
Tailored garments:
Suits
thous. of units
Overcoats and topcoats
do
Trousers (separate) , dress and sport
.do
Shirts (woven fabrics), dress and sport
thous. of doz
Work clothing:
Dungarees and waistband overalls
.do
Shirts
do
13,126
14.274
11.924
12.675
i 11. 825
287
1
4,114
2
1,840
2
256
M, 512
4.848
5
1
* 1, 520
1 . 668
1
22 256
372
348
392
1 , 639
1
240
i 365
1,732
276
1
1 2, 628
10,844
1,810
i 295
5, 520
1,412
320
4. 800
4,464
1 , 850
1 , 692
1,476
'355
1
445
384
360
340
356
1,524
392
12,215
10, 724
13,790
15, 120
1
H 1, 630
510
1
4. 440
944
280
3,120
3,840
1
1
1 , 430
1,184
1,432
i 1,650
1345
288
276
392
364
»385
1,660
480
1,655
i 440
4, 380
' 435
i 395
14, 121
1,456
352
4,224
14, 588
3
T 3
1, 576
3 324
4, 272
12, 762
13
13
2, 120
i 3 320
4, 980
1, 552 ' 3 1,728 i s 1,715
408
852
3360
r 3
364
i * 340
3 ^65
1
Women's, misses', juniors' outerwear, cuttings (quarterly through 1953) :*
1,542
1,650
2. 442
771
3, 187
2.217
5. 827 2 2 2. 200
2,751
2, 452
2, 269
Coats
. - .thous. of units _ . .
2,463
2, 035
19,332
56, 026
26, 870
20, 356
26, 720
24, 465
16, 577
20,429
21,091
17,157
17, 593
Dresses
..do...
18,511
18, 675
2
3, 044
1,774
1 . 843
747
475
1 , 639
971
1,203
874
1,257
738
Suits
do
1 158
1 464
-'1,1 52
3, 205
1.432
1,189
1,036
1,249
1,150
1,073
Waists, blouses, and shirts
thous. of doz,. _
1,200
1,234
1,170
1,140
986
T
2
Revised.
» Preliminary.
i Data cover a 5-week period.
See note marked "*" for change in sample coverage beginning January 1954. 3 Based on sample of manufacturers ae'
counting for 75 percent of 1953 output.
{Revisions for 1952 are shown in the August 1953 SURVEY.
d"Includes laminated board (reported as component board) also sheathing and formboard.
*New series.
Compiled by the U. S. Department of Commerce, Bureau of the Census. Data are estimated industry totals derived as follows: Men's apparel—estimates for January-October
1954 are based on a monthly sample survey of manufacturers, accounting for approximately 75 percent of the total 1952 production; data prior to 1954 are based on a sample covering establishments that accounted for about 90 percent of the total 1951 cuttings of these items. Women's outerwear—based on reports from establishments classified in the women's principal outerwear industries
for the specified items; monthly data beginning January 1954 are estimated from reports of producers that account for approximately 75 percent of total output; quarterly estimates prior to 1954
are based on reports from 2,500 establishments accounting for about 90 percent of total shipments in 1951. Cuttings for 1950 and 1951 will be shown later; data for 1952 (except men's dungarees,
etc.) are shown at bottom of p. S-38 of the December 1953 SURVEY. Cuttings of men's dungarees and waistband overalls for January-December 1952 and January 1954 appear in the April 1954
SURVEY.
VData
for December 1953 and March, June, September, and December 1954 cover 5-week periods and for other months, 4 weeks.
0
Revisions for 1953 (units as above): Uncalciued gypsum (2d and 3d quarters)-—660,880:670.504; keene's cement (2d and 3d quarters)—13,816; 12,241; all other building plasters (1st, 2d, and 3d
quarters)—164,995; 192,708:227,963; lath (2d quarter)—596,719.
SURVEY OF CURRENT BUSINESS
February ll>5f
1953
Ijnless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical DecemSupplement to the Survey
ber
S-39
1954
January
February
March
April
May
June
1955
i
[ July
I
| August
Septem- October Novem- December
ber
ber
January
TEXTILE PRODUCTS—Continued
COTTON
Cotton (exclusive of 1 raters):
Production:
15, 165 i 16,119
G innings §
thous. of running bales..
Crop estimate, equivalent 500-lb. bales
thous. of bales,. r
Consumption!
bales _ . s 756, 758 r f>78, 472
Stocks in the United States, end of month,
' 16, 680
total!
thous. of bales
15 726
Domestic cotton, total _ - . . _ _ .
_._ _ . _ d o . _ ~ 'T 16,615
15,665
3,010
On farms and in transit
do
1 906
Public storage and compresses _
do _ _ - 'r 11,964
12, 058
1, 642
Consuming establishments
do
1 701
65
Foreign cotton,
total
_ _ d o _ ..
61
Fxports
bales
Imports9-- do
Prices (farm), American upland I rr cents per Ib
Prices, wholesale, middling, ^i6 t average 10
markets
cents per Ib
Cotton linters:!
Consumption
thous. of bales
Production .
_ . ...
do ._
Stocks, end of month
.
do
2
16,317
389
1.694
5, 691
9, 670
r
16, 465
685, 546 ^ 844, 092 ' 659, 300
12, 439
3
13,039
i 13,44)5
4
2
r
r
5
13, 569
703, 697 3 801, 748
541,5,%
667, 443
815,315
706, 603
14 673
14 610
1 360
11 462
1 788
63
13 411
13,346
1 082
10, 495
1 769
66
12 362
12 287
906
9 698
1 683
75
11 397
11 316
868
8 907
1 541
81
10 189
10,112
606
8. 1 50
1 356
77
9 576
9 500
9
55
8,071
1 174
76
20 125
20, 046
10 760
8 304
982
79
19 721
19, 650
7 719
10. 862
1 069
71
19 431
19, 367
5 286
12, 733
1 348
64
18 820
18, 761
3 441
13, 803
1 517
59
645. 472^ 77$, 558
17 500
17, 436
1 977
1 3, 824
1 f>35
(>3
375, 035
11,070
30 7
296 651
6 503
30 1
385 420
12 866
30 4
429 659
16 258
31 1
422 048
24 163
31 6
336 120
11 679
32 9
434 934
8,177
32 3
227 855
8 719
32 2
189 585
9 941
34 0
199, 322
6. 538
34 6
350 753
6 635
34 7
389 524
6, 898
33 2
32 7
32 5
32.6
33 2
34 0
34 2
34 2
34 4
34 2
34. 4
34 2
34 5
34 3
33 9
34 1
34 2
5 109
6 221
1,351
113
222
1 428
95
197
1 457
599
s
189
1 542
105
150
1 590
108
115
1 637
* 113
584
1 589
96
64
1, 546
112
82
1. 525
5
100
6
177
1 , 587
117
224
1 666
117
214
1, 763
2, 558
49, 493
6,306
45 560
4,777
50 457
4,597
2, 512
44 540
3,988
64 206
6*242
47 243
4 730
2,454
49 818
4,202
48, 282
4, 355
47, 160
5, 110
2. 304
50. 809
7, 622
55 821
6 907
48, 507
10, 887
29.13
34.9
15.9
17.5
28.56
34.9
16.0
17.3
27.18
34.9
15.8
16.8
26.84
34.9
15.4
16.8
26. 75
34 9
15. 4
16. 5
26.28
34 9
15.3
16.3
26. 50
34.9
15. 4
16.3
26.48
34.7
15.8
16.3
26. 51
35.9
16.3
16.4
26.00
35.9
16.5
16.4
26 60
35 9
16 5
16.5
26.80
35 9
16.3
16.6
.630
.927
.625
.921
.630
.921
.632
.921
.630
.921
.627
.917
.633
.921
.636
.917
.633
.917
.633
.919
.642
.931
20, 933
19, 695
20, 897
19, 652
20, 888
19, 656
20, 872
19, 626
20, 715
19, 457
20. 627
19, 325
20,646
19. 332
20. 606
19, 286
20, 633
19, 306
20,634
19, 276
20, 696
19, 295
10, 246
436
9, 683
118. 8
9 145
457
8 631
124.7
9 231
469
8 697
128. 1
« 11 454
458
5
10 799
6
1 25. 3
8 991
457
8 475
125.3
8 932
447
8 366
122.6
* 10, 939
447
10, 216
' 122. 8
7,066
372
6, 578
102.4
9,171
459
8,583
126.2
s 11, 222
458
5
10, 455
5
126. 0
9, 735
493
9,042
136.3
53.9
21 9
55. 9
24 3
r
r
53.1
32.1
53.2
35.8
'62.1
32.4
64.2
32.4
r
f
5
113
M96
1 785
COTTON MANUFACTURES
Cotton cloth:
Cotton broad -woven goods over 12 inches in width,
production, quarterly cf
mil. of linear vards
Exports
thous of sq. vd
Imports?
. _ .do
Prices, wholesale:
Mill margins ._ ._
... _ _ .cents per Ib-..
Denim, 28-inch
cents per vd
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. perlb 36/2, combed, knitting
. do
Spindle activity (cotton system spindles):!
Active spindles, last working dav, total
Consuming 100 percent cotton __ ...
6
thous..
do
8
Spindle hours operated, all fibers, total mil. of hr
Average per working dav
_
do
Consuming 100 percent cotton
do
Operations as percent of capacity - . .
5
5
5
r
26. 50
T 35 1
P 16. 0
p 16. 6
.637
931
v. 641
p. 933
20,782
19, 348
20, 626
19, 136
9 464 5 11 059
442
485
8 768 s 10 239
134 6 5 122 5
RAYON AND ACETATE AND MFRS.
Filament yarn and staple:
Shipments, domestic, producers':
Filament yam
mil.oflb
Staple (incl tow)
do
Stocks, producers', end of month:
Filament yarn
do
Staple (incl. tow) ...
do
Imports
__
thous. of Ib
Prices, wholesale:
Yarn, viscose, 150 denier, filament, f. o. b. shipping
point
dol. per Ib
Staple viscose, 1^£ denier
do
Kay on and acetate broad-woven goods, production,
quarterly c?
thous. of linear vards
6
r
60.8
29 2
55.6
24 1
60.4
28 9
58.3
32 1
r
57.9
35.7
66 9
33 5
70 4
34 9
r
77.2
32.7
1,775
78.6
33. 1
1, 215
75.9
30.9
1,691
75 4
28.3
2,264
69.8
28.3
3, 509
68 5
27.9
2 178
67.0
28.0
3,106
70.2
29.0
2,940
73.2
30.1
5,785
64.8
30.3
7,536
61.4
33.2
8,300
58 9
'33.6
9 915
55 6
32 0
.780
336
.780
336
780
336
.780
336
.780
336
.780
336
.780
.336
.780
.336
.780
.336
.780
.336
.780
.336
780
336
P 78Q
P 336
402,378
422, 167
406, 017
383. 248
SILK
Silk, raw:
Imports
thous. of Ib
Price, wholesale, white, Japanese, 20/22 denier, 87%
(A A), f. o. b. warehouse.. dol. per Ib. ~
521
465
449
366
1,051
671
843
654
890
567
814
777
5.43
5.58
5.39
5.23
5.07
5.03
4,53
4.55
4.68
4.83
4.75
4 78
20 590
10, 685
18, 653
9,840
19 737
9,788
24, 520
11,738
21,735
9,237
23, 040 « 528, 084
9. 286
8, 31 9
21,301
5, 903
23 760
9, 253
24 813
* 11,578
20. 048
9,502
T 19 044
9 172
12, 889
8,182
17,147
9,367
14, 277
7,154
17, 823
10, 576
22, 067
10, 768
19, 868
10, 458
21,603
12,385
19,012
8,989
18, 478
9,401
17, 757
8,085
17,003
8,317
13 897
7,884
1. 725
1. 205
1.725
1.205
1.725
1.196
1.675
1.122
1.688
1.160
1. 767
1.187
1.756
1.166
1.762
1.211
1.771
1.220
1.712
1.196
1.600
1 075
1.560
1 135
1. 779
1.775
1. 775'
1. 725
1. 725
1.731
1.184
1
1. 725J
1. 725'
1.725
1.725
1.725
1.725
1.675
1. 625
p 4. 60
WOOL
Consumption, mill (clean basis) :!J
\pparelclass
Carpet class
thous oflb
do
Imports clean content 9
do
Apparel class (dutiable), clean content*
...do
Prices, wholesale, raw, Boston:
Territory, 64s, 70s, 80s, clean basis
dol. per Ib- .
Bright fleece, 56s-58s, clean basis
-do
Australian, 64s, 70s, good topmaking, clean basis, in
bond.
- .
.-dol. perlb
5
8
6
6
5
s 23 055
11 455
5
7
1 . 550
1 146
1.525
r
Revised.
*> Preliminary.
i Giimings to January 16. 2 rTotal gimiiiigs of 1953 crop. 3 Ginnings to December 13. < December 1 crop estimate. * Data cover a 5-week period.
6
Data cover a 14-week period; other data are for 13 weeks.
Nominal price.
§ Total ginnings to end of month indicated.
it Data for December 1953 and March, June, September, and December 1954 cover 5-week periods and for other months, 4 weeks; stocks and number of active spindles are for end of period
covered.
9 Revisions for 1952 appear in corresponding note in April 1954 SURVEY.
*New series. Imports of wool are compiled by the C7. S. Department of Commerce, Bureau of the Census; dutiable wool covers essentially the apparel class; data prior to April 1952 will be
shown later.
t Re visions for 1952 are shown in the August 1953 SURVEY.
<? Revisions for broad-woven goods for first and second quarters of 1952 are shown in the October 1953 SURVEY.
SUEVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
1953
December
19 54
F
£r j *•«*
January
February 1955
April
June
May
1955
July
August
Septem- October Novem- December
ber
ber
January
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, Bradford system,
wholesale price..
_ . . „ _ . ... dol. per Ib
Woolen and worsted woven goods, except woven
felts:*
Production, quarterly, total
thous. oflin. y d _ _
Apparelfabrics, 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, suiting, f. o. b. mill:
Flannel, 12-13 oz /yd., 57" 100"
1947-49=100
Gabardine, 10^-12^ oz./yd., 56"/58"
do
2.098
2.073
2. 037
i 70, 885
i 162, 810
4, 116
i 58, 694
i 27, 820
1
30, 874
1
8,
1
5,
1
075
717
2, 358
112.9
103.6
112.9
103.6
111. 5
103.6
2.025
2. 037
2.037
2.043
2.043
2.037
2.037
62, 738
54, 835
958
53, 877
26, 461
27, 416
69, 440
63, 559
570
62, 989
30,078
32,911
72, 662
67. 736
456
67, 280
28,103
39, 177
7,903
4,455
3, 44«
5 881
3, 346
2 535
4 926
2,949
1 977
112.1
103.6
112.1
102.6
112.1
103.6
112.9
103.6
2.013
1.989
P 1.956
p 112.1
* 103. 6
112,9
103.6
112 9
103.6
112 9
103. 6
111.6
103.6
»• 112. 1
103.6
265
84
174
61
288
108
290
369 942 f 287, 730
397
326
385
314
300, 998 221, 195
292 721 214,913
68,618 *r 66, 138
48, 966
50 845
587 785
305
251
498, 248
477 927
89, 232
72 862
766, 012
422
332
669, 778
643, 605
95,812
79, 768
29, 261
12 519
16, 742
TRANSPORTATION EQUIPMENT
AIRCRAFT
Civil aircraft, shipments
Exports 9
250
105
278
92
240
65
312
106
359
116
309
95
316
67
293
105
264
68
number. _
_ do.__
do
do_, do
.. do
do
484, 707
424
393
389, 628
373, 666
94, 655
80, 227
551, 134
405
365
454, 562
435, 139
96, 167
83, 563
534, 145
328
322
446, 676
425, 392
87, 141
72, 468
633, 003
297
289
531, 529
510,024
101,177
85,154
631, 769
379
348
534, 667
515,192
96, 723
79, 439
588, 562
274
251
497, 062
478, 889
91,226
73, 712
598, 876
351
349
507, 055
489, 994
91,470
74, 250
530 416
246
190
451, 663
437, 028
78, 507
62, 161
521 450
309
306
445, 306
431 371
75, 835
60 263
do
do
do ___
21, 578
10, 884
10, 694
29, 700
16,448
13, 252
31,433
18,195
13, 238
21,685
12, 177
9,508
45, 725
24, 836
20, 889
37, 479
18,296
19, 183
30, 254
14,697
15,557
29, 154
13, 210
15, 944
26,794
11 519
15 275
26, 645
9 556
17, 089
22, 224
6,357
15, 867
do
do _..
do
do
do
5,592
5, 196
2,316
2,880
396
4,724
4,585
1,899
2,686
139
4,667
4,502
1,767
2,735
165
5, 000'
4,741
1,879
2,862
259
4,746
4,535
1,865
2,670
211
4,844
4,638
1,934
2,704
206
5,258
4,987
2,479
2,508
271
3,686
3,465
1,858
1,607
221
3 899
3,740
2 052
1,688
159
4 271
4,105
2 256
1,849
166
4,521
4,356
2,551
1,805
165
413,937
68, 659
340, 698
60, 694
369, 592
60, 843
480, 731
72, 583
508, 102
75. 332
520, 958
78,209
596, 719
85, 858
474, 316
65,] 81
440, 312
64,180
407, 844
66, 174
395, 943
71, 254
4,752
3,169
2,873
1,583
5, 101
3,815
3,658
1,286
4,041
3,014
2.947
1,027
4,826
3,796
3,793
1,030
4, 195
3,138
2,981
1.057
3,658
2,513
2,028
1,145
2,683
1,263
1,230
1,420
2,051
955
705
1,096
2,450
990
837
1,460
2,958
1,600
1,208
1,358
2,348
1,338
807
1,010
1,770
1,085
617
685
2,232
1,428
1,369
804
712
398
97
26
686
384
99
17
690
405
40
22
636
374
59
36
572
330
64
44
541
314
41
26
500
285
44
30
502
316
65
34
450
291
52
25
587
448
42
22
563
434
38
25
514
405
54
34
757
671
57
34
1,776
1,777
1, 775
1,773
1.771
1,768
1,764
1,757
1,753
1,750
1,745
1,739
1,736
88
4.9
27, 678
12, 256
15, 422
91
5. 1
23, 537
9, 153
14,384
94
5.3
20, 548
6,784
13,764
98
5.6
16, 896
4,068
12. 828
104
5.8
13, 964
2, 132
11,832
112
6.3
12, 169
1,214
10, 955
116
6.6
11,429
1,793
9,636
118
6.7
10, 334
1,731
8,603
122
6.9
11,016
3, 911
7,105
126
7.2
10, 232
4,403
5, 829
123
7.0
11, 785
4,952
6,833
120
6.9
13, 639
6,581
7,058
116
6.7
13, 624
6,078
7, '546
1,232
10 5
1,215
10 6
1,210
10 8
1.222
11 2
1. 169
11 1
1,180
11 4
1,081
11.0
1,102
11.4
1,233
13 1
1.237
13.5
1,226
13. £
1,227
14.5
493
number
-do
-
MOTOR VEHICLES
Factor v sales, total
Coaches, total
Domestic
Passenger cars, total. __
Domestic
Trucks, total
Domestic
-
_
_.
.__
_ __
Exports, total 9.
Passenger cars 9
Trucks and busses 9
....
--
Truck trailers, production, total
Complete trail erscf
. Vans
__
All other cf
Trailer chassis
_ . _ __ _ _
Registrations:
New passenger cars
New commercial cars
_
._
_
do
_ _ _ ______do
r
4 876
' 4, 743
'2 822
1,921
133
2
659 700
2
92 100
4,925
4,726
2,823
1,903
199
381 081 3 681, 668
64, 735 4 73, 426
r
RAILWAY EQUIPMENT
American Railway Car Institute:
Freight oars:
Shipments, total ._ _ _ _
E quipment manufacturers , total
Domestic
_
Railroad shops, domestic
number
do .
do
do _
Passenger cars, equipment manufacturers:©
Orders unfilled, end of month, total*
Domestic
Shipments total
Domestic
do
do
do
do
Association of American Railroads:
Freight cars (class I), end of month :§
Number owned
thousands
Undergoing or awaiting classified repairs
thousandsPercent of total ownership
_. Orders, unfilled
number
E quipment manufacturers
do
Railroad shops
do
Locomotives (class I), end of month:
Steam, undergoing or awaiting classified repairs
number. .
Diesel-electric and electric: Orders, unfilled
number of power units- -
1,117
11. 1
571
486
521
365
300
170
124
133
99
115
158
267
.number
46
37
33
26
57
46
36
42
34
39
32
33
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
number
do
do
673
630
43
523
485
38
467
437
30
473
448
25
366
344
22
445
417
28
445
389
56
413
368
45
357
278
79
357
319
38
348
318
30
359
304
55
Exports of locomotives, totall
Shipments total
Domestic
Export
394
356
38
T
Revised.
» Preliminary.
1 Data cover a 14-week
period; other data, 13 weeks. 4 2 Preliminary estimate of production based on Ward's Automotive Reports. Production for pre3
ceding month: 642,000 passenger cars; 94,000 trucks.
Estimate based on 33 states.
Estimate based on 34 states.
^Revisions for 1952 are shown in the August 1953 SURVEY.
9 Data exclude all military-type exports. Scattered monthly revisions for 1952 for motor vehicles will be shown later.
d'Revised beginning 1952 to include production of converter dollies; data as revised are comparable with figures through 1951 shown in the 1953 issue of BUSINESS STATISTICS. Revisions
for January-September 1952 are shown in the December 1953 SURVEY.
e Excludes railroad shops except when noted.
*New series; monthly data prior to 1953 will be shown later.
§Not including railroad-owned private refrigerator cars.
^Revised exports for May 1952,41 locomotives.
U. S. G O V E R N M E N T P R I N T I N G O F F I C E : 1955
•INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
Abrasive paper and cloth (coated)
38
Acids..
.______.__,
24
Advertising
_
8
Agricultural employment
11
Agricultural loans and foreign trade
16,17, 21, 22
Aircraft and parts.
_
2,11,12,14,15,40
Airline operations
23
Alcohol, denatured and ethyl
24
Alcoholic beverages
2, 6, 8, 27
Aluminum
33
Animal fats, greases, and oils
25
Anthracite
_
11,13,14,15,34
Apparel
2,3,4,5,6,8,9,10,12,13,14,15,38
Asphalt and asphalt products
36
Automobiles
2,3,8,9,11,12,14,15, 16, 22,40
Bakery products
__
_ _ . 2,12,13,14,15
Balance of payments
21
Banking
14,16
Barley
_
_
28
Barrels and drums
__
32
Battery shipments
34
Beef and veal
__
29
Beverages.-2,4,6,8,12,13,14,15,27
Bituminous coal
_ 11, 13,14,15,35
Blast furnaces, steel works, etc
11,12,14,15
Blowers and fans
34
Bonds, issues, prices, sales, yields
19, 20
Book publication
37
Brass
33
Brick
_
38
Brokers'loans and balances
16,19
Building and construction materials
8,9,10
Building costs __
_
7,8
Business incorporations, new
5
Business sales ana inventories
3
Butter27
Pages marked S
Food products
2,3,4,5,
6, 8, 9, 12, 13, 14, 15,18, 22, 23, 27, 28, 29, 30
Foreclosures, real estate
8
Foreign trade indexes, shipping weight, value
by regions, countries, economic classes, and
commodity groups
21, 22
Foundry equipment
34
Freight carloadings
23
Freight cars (equipment)
40
Freight-car surplus and shortage
23
Fruits and vegetables
_ 5, 6, 22, 28
Fuel oil
35
Fuels
_______
6, 34, 35
Furnaces
._
34
Furniture
2, 3, 4, 6, 9, 10, 11, 12, 14, 15, 16
Furs.
22
Gas, prices, customers, sales, revenues.
5I, 6, 27
Gasoline
_
__
_
- 9,36
Glass products
_ 2, 11, 12, 14, 15,38
34
Generators and motors
_
24
Glycerin
18
Gold
_
_Grains and products
5, 6, 19, 22, 23, 28, 29
Grocery stores
_
_
- - 9,10
1
Gross national product
1
Gross private domestic investment
6,38
Gypsum and products
9
Hardware stores
_Heating apparatus
_ _ _ _ 11, 12, 14, 15,34
Hides and skins
.
_. —. _ _ 6, 22,30
Highways and roads
7,', 8, 15
29
Hogs
_-_
8
Home Loan banks, loans outstanding
Home mortgages.
_____
8
38
Hosiery
_.
Hotels
11, 13, 14, 15,24
Hours of work per week,
>._,_ 12, 13
Cans (metal), closures, crowns
33
Housefurnishings
5, 8,1, 9, 10
Carloadings
._
23
Household appliances and radios
„ . 3, 6,
', 9, 34
Cattle and calves
_
29
Cement and concrete products. __
6,38
21,22
Imports (see also individual commodities).
Cereals and bakery products
6,12,13,14,15
1
Income, personal
Chain-store sales (11 stot es and over only).
10
17
Income-tax receipts
Cheese
27
Industrial production indexes
_
2,3
Chemicals
2,3,4, 6,12,13,14,15,18, 22, 24
16,17
Installment credit
Cigarettes and cigars.
6,30
10
Installment sales, department stores
_
Civilian employees, Federal
12
Instruments and related products. 2, 3, 11, 12, 14,15
Clay products (see also Stone, clay, etc)
6,38
34
Insulating materials-_
"______
Coal
.
2,3,6,11,13,14,15,22,23,34,35
17,18
Insurance, life.,
„
..--i,-*.
Cocoa._
_
22,29
16
Interest and money rates
'__
:
Coffee
_._-_
- 22,29
21,22
International transactions of the U. S .
Coke
----- 23,35
Inventories, manufacturers' and trade.... 3, 4, 9, 10
Commercial and industrial failures
5
Iron and steel, crude and manufactures
2,
6,18,22, 32, 33
Communications. _ _
. 11,13,14, 15, 19, 20, 24
Confectionery, sales...
29
35
Kerosene
.
,:.. Construction:
Contracts awarded
—
7
13
Labor
disputes,
turnoverCosts7,8
11
Labor force
Dwelling units
.
„_
7
29
Lamb
and
mutton
Employment, earnings, hours, wage rates-11,
29
Lard
_
13,14,15
33
Lead
Highways and roads
7,8,15
Leather
and
products
New construction, dollar value
1,7
, ,,,
, 30, 31
Consumer credit
16,17
Linseed oil ......... _ ..... ..............
26
Consumer durables output, index
3
Livestock...
.......
________________
2,
5,
6,
23, 29
Consumer expenditures-.
1,9
Loans,
real
estate,
agricultural,
bank,
brokers'
Consumer price index
5
(see also Consumer credit) __________ 8, 16, 17, 19
Copper
22,33
Locomoti ves ___________ ---- _ ------------ —
40
Copra and coconut oil
25
Lubricants _______________________________36
Corn.
„._ 19,28
2,
Lumber
and
products
______________________
.
.
Cost-of-living index (see Consumer price
3, 4, 6, 9, 10, 11, 12, 14, 15, 18, 31, 32
index)
_
5
Cotton, raw and manufactures.
2, 5, 6, 22,39
Machine activity, cotton ___________ _ ______ . _
39
Cottonseed, cake and meal, oil
25
34
Machine tools __________________ ..... _____
Credit, short- and intermediate-term
16,17
Machinery ____ 2, 3, 4, 5, 6, 11, 12, 14, 15, 18, 22, 34
Magazine advertising ____ ............... ___
Crops
._ 2,5,25,28,30,39
8
Crude oil and natural gas
2,3
Mail-order houses, sales________________ _ _ _ _
10
Currency in circulation
18
Manufacturers' sales, inventories, orders_____ 3,4, 5
Manufacturing production indexes__________ 2,3
Dairy products
2,5,6,12,13,14,15,27
Manufacturing production workers, employDebits, bank
16
ment, payrolls, hours, wages ____ 11, 12, 13, 14, 15
Debt, United States Government
17
Margarine ____________________ ____________ _
26
Department stores
9,10,16
Meats and meat packing.. 2, 5, 6, 12, 13, 14, 15, 29
Deposits, bank. _ _
__
16,18
Medical and personal care __________________ 5
Disputes, industrial
13
Metals ____ 2, 3, 4, 5, 6, 11, 12, 13, 14, 15, 18, 32, 33
Distilled spirits
27
24
Methanol ______________________ _ _____ _ _ _ _
Dividend payments, rates, and yields
. 1,18, 20
Milk ____ _____ _ ______________ ____ _ _ _ _ _ _ _ _
27
Drug-store sales
__
9,10
Minerals and mining. 2, 3, 11, 13, 14, 15, 19, 20, 23
Dwelling units, new
7
18
Monetary statistics ___________ --- _ ------- --Money supply____________________________
18
Earnings, weekly and hourly
14,15
Mortgage
loans
________
_________________
8,
16,
17
Eating and drinking places
•_.=
_. 9, 10
23
Motor
carriers.
......
_
...............
----Eggs and poultry
2, 5, 29
Motor fuel _____ ...... _ ..... -------- ......
36
Electric power
6, 26
Motor vehicles ______________ ....... _ 4, 6, 9, 18, 40
Electrical machinery and equipment
2,
34
Motors,
electrical
_______
......
.....
.
.
.
--3,4,5,11,12,14,15,18,22,34
1
National income and product ........... ---Employment estimates and indexes
11,12
24
National parks, visitors____________-________
Employment Service activities
13
National security____________._______..... 1, 17
Engineering construction
7, 8
Newspaper advertising ..... _______ ..... ---8
Expend itures, United States Government
17
22,37
Newsprint ________________________________
Explosives
25
19,
20
New
York
Stock
Exchange,
selected
data.
_
_
_
Exports (see also individual commodities)
21, 22
Nonferrous metals ____ 2, 6, 11* 12, 14, 15, 18, 22, 33
Express operations
23
Noninstallment credit________.... ---------- 17
Failures, industrial and commercial _
5
Oats ___________ ....... _ _ _
...........
----28
Farm income, marketings, and prices
1,2,5,6
Oil burners ____________ ....... ___________ _
34
Farm wages
15
Oils and fats, greases ____________________ 6, 25, 26
Fats and oils, greases
6, 25, 26
Orders,
new
and
unfilled,
manufacturers'
_____
4,5
Federal Government
finance
17
Ordnance......____________._______... 11, 12, 15
Federal Reserve banks, condition of
16
Paint and paint materials ______________ ---- 6, 26
Federal Reserve reporting member banks
16
Fertilizers
. . 6, 25 Panama Canal traffic _______ ...... ----- ---- 23
Paper and products and pulp
..........
----2,
Fiber products
34
3, 4, 6, 12, 13, 14, 15, 18, 36, 37
Fire losses..
8
Passports issued --- _ ------- ...... __ ...... _
24
Fish oils and fish __
25,30
Flaxseed
26
Payrolls, indexes.. ......... _____ - — ------ 12
Flooring
31
Personal consumption expenditures ____ ...... 1,9
Personal income _____ ..... — ...... ----- _ _
1
Flour, wheat
29
Pages marked S
Personal saving and disposable income
1
Petroleum ^nd products
2,
3, 4, 6, 12, 13, 14,15, 18, 22, 35, 36
Pig iron.
_
_
__.
32
Plant and equipment expenditures. .^
._ 2,19
Plastics and resin materials
__
26
Plywood
32
Population
_
_
11
Pork
29
Postal savings
16
Poultry and eggs
2, 5, 29
Prices (see also individual commodities):
Consumer price index
5
Received and paid by farmers
5
Retail price indexes
5
Wholesale price indexes_
6
Printing and publishing
2, 3, 4, 12,13, 14,15, 37
Profits, corporation
1,18
Public utilities
2, 6,
7,11,13,14,15,17,18,19, 20, 26, 27
Pullman Company
24
Pulp ani pulpwood
36
Pumps
. 34
Purchasing power of the dollar
6
Radiators and convectors
34
Radio and television
3,6,8,34
Railroads
_
2,
11, 12, 14, 15, 17, 18, 19, 20, 23, 40
Railways (local) and bus lines
11,13,14,15, 23
Rayon and rayon manufactures.
39
Real estate
„
8, 16, 17,19
Receipts, United States Government
17
Recreation
_._ :
5
Refrigerators, electrical
34
Rents (housing), index
___.
__
S
Retail trade, all retail stores, chain stores (11
stores and over only), general merchandise,
department stores
_ 3, 5, 9,10, 11, 13,14,15
Rice
28
Roofing and siding, asphalt
36
Rosin and turpentine
25
Rubber (natural, synthetic, and .reclaimed),
tires and tubes
6, 22,37
Rubber products industry, production index,
sales, inventories, prices, employment, payrolls, hours, earnings
2,3,4, 6,12,13,14,15
Rye____
.
28
Saving, personal._„
___,-,
__
1
Savings deposits
-16
:*-,.
Securities issued
-_
19
Services
1, 5,11,13,14,15
Sewer pipe, clay
38
Sheep and lambs
<._,_,._,_..•
29
Ship and boat building.
_ . _ _ _ - _ _ _ 11,12,14,15
Shoes and other footwear. _ _ _ . 6, 9,10,12,13,14,15
Shortening
„— _______
26
Silk, prices, imports.
6,39
Silver
18
Soybeans and soybean oil
-___-_
26
Spindle activity, cotton
39
Steel ingots and steel manufactures (see also
Iron and steel)
_____________
2,32,33
Steel scrap
32
Stocks, department stores (see* also Inventories)
10
Stocks, dividends, prices, sales, yields, listings.
20
Stone and earth minerals
-_
2,3
Stone, clay, and glass products
2,
3,4,11,12,14,15,18,38
Stoves
34
Sugar
22,30
Sulfur
_
25
Sulfuric acid
_
24
Superphosphate
25
Tea
30
Telephone, telegraph, cable, and radio-telegraph carriers
11,13,14,15,19, 20, 24
Television and radio
3,6,8, 34
Textiles
2,3,
4,6,12,13,14,15,18,22,38,40
Tile___.
_
38
Tin
.
_.
__ 22,33
Tires and inner tubes_____ 6, 9,10,12,13,14,15, 37
Tobacco. _
, 2, 3, 4, 5, 6, 8,12, 13,14,15, 22, 30
Tools, machine
.
34
Tractors
__
-._,.
34
Trade, retail and wholesale
3,
5,9,10,11,13,14,15,17
Transit lines, local
»--.-«.'
23
Transportation and transportation equipment
2,
3,4,5,9,11,13,14,15,18,23,40'
Travel.
24
Truck trailers
40
Trucks
,.
2,40
Turpentine and rosin
25
Unemployment and compensation
11, 13
United States Government bonds
16,17,19, 20
United States Government
finance_;
17
Utilities
2,5,
6, 7, 11, 13, 14, 15,17,18,19, 20, 26, 27
Vacuum cleaners
34
Variety stores..
9,10
Vegetable oils
_
25, 26
Vegetables and fruits
5, 6, 22,28
Vessels cleared in foreign trade
23
Veterans' benefits
13,17
Wages and salaries..
1,14,15
Washers
34
Water heaters
34
Wax
36
Wheat and wheat
flour
19,28,29
Wholesale price indexes
6
Wholesale trade...
3, 5,10,11,13,14, 15
Wood pulp
36
Wool and wool manufactures.___;___
6, 22,39, 40
Zinc....
33
UNITED STATES
GOVERNMENT PRINTING OFFICE
DIVISION OF PUBLIC DOCUMENTS
WASHINGTON 25, D. C»
PENALTY FOR PRIVATE USE TO AVOID
PAYMENT OF POSTAGE, $300
(GPO)
OFFICIAL BUSINESS
First-Class Mail
tl&ticat *3wm/nara for 1954
MAJOI* BUSINESS INDICATORS, 1949-54
19545
1949
1950
1951
1952
1953
Gross national product, total (Ml. of dol.) _
Personal consumption e "rpenditures
Gross private domestic investment
Net foreign investment
Government purchases of goods and
257.3
180.6
32.5
.5
285.1
194.0
51.2
—2.2
328.2
208.3
56.9
.2
346.1
218.4
50.7
—.2
364.9
230.1
51.4
—1.9
43.6
42.0
62. 8
77.2
National income (bil. of dol.)-
--
216.2
240.0
277.0
291.0
Total (bil. of dol.)
Wage and salary disbursements, total „
Commodity-producing industries
206,8
134.4
66.9
39.0
18.0
20.5
3.0
42.0
17.2
12.4
227.1
146.5
63.5
41.3
19.6
22.2
3.8
44,6
19.8
15.1
255.3
170.8
74.9
45.8
21.3
28.8
4.8
49.9
20.7
12.6
271.2
185.1
80.6
48.7
23.0
32.8
6.5
49.9
21.4
13.1
286.1
198.1
88.1
61.7
24.8
33.6
6.3
49.0
22.8
13.3
286.5
195.7
83.8
62.6
25.5
33.7
6.6
48.7
24.3
15.9
2.2
2.9
3.4
3.8
4.0
4.7
190.8
210. 5
235.7
253.3
270.0
270.7
Item
Item
1951
1952
1S53
1954'
367.2
234.0
46.1
Farm marketings, physical volume, total
(1935-39=100) .
Crops
_ _.
Livestock
151
158
146
144
139
147
146
137
153
152
143
158
159
153
164
3 159
3147
3
168
85.2
77.5
305.0
300.0
Industrial production, total (1947-49=
100)
_. Manufactures
_
Durable manufactures
Nondurable manufactures - Minerals
97
97
95
99
94
112
113
116
111
105
120
121
128
114
115
124
125
136
114
114
134
136
153
118
116
125
127
138
116
111
437,868 516,311 533,663 466,841 457, 290
1,974
2,290
2,330
1,842
2,248
389, 514
82,118
345,066 388,674 433,358 463,055 514,169
32,901 38,902 38,094 38,240 39,268
644,645
37,085
Personal Income
Service industries
Other labor income
„ _
Proprietors' and rental income
Personal interest Income and dividends
Transfer payments.™.—
Less personal contributions for social
insurance
Total nonagrieultural income (bil. of dol.)_
Selected commodities, production:
Coal, bituminous (thous. of short tons)Crude petroleum (mil. of bbl.)
Electric power, industrial and utility
(mil. of kw-hr.)
Lumber (mil. of board feet)
Steel ingots and steel for castings
(thous of short tons)
Motor vehicles, factory sales, total
fthous )
Passenger cars
Trucks and coaches
AH industries, total (mil. of dol.)
Manufacturing _ . „ _
Durable-goods industries Nondurable-goods industries
Mining
__
Railroads
Transportation, other than rail _
Public utilities
Commercial and other
19,285
7,149
2,594
4,555
792
1,352
887
3,125
6,980
20,605
7,491
3,135
4,356
707
1,111
1,212
3,309
6,775
25,644
10,852
5,168
5,684
929
1,474
1,490
3,664
7,235
28,391
12,276
5,821
6,455
1,011
1,312
1,464
4,648
7,778
26,493
11,632
5,614
6,018
985
1,396
1,500
3,887
7,094
26,682
11,240
5,156
6,085
1,021
848
1,408
4,209
7,965
552,958
276, 548
134, 473
142, 075
112, 325
36, 974
76,351
164,085
65, 269
108,813
586,034
303,356
152, 698
150,658
111,936
37, 141
74, 795
170, 742
60,370
110,370
507,740
287,780
135,914
151,866
109,295
34, 794
74,501
170, 665
58, 173
112,492
75,986
44,442
24, 367
20,075
11,310
6,541
5,769
20,234
9,162
11,072
79,852
46,947
26, 697
20,250
11,697
5,678
6,019
21, 208
9,876
11,332
76,338
44,102
24,428
19,674
11,564
5,460
6,104
20,672
9,246
11,426
190, £36 251, 756 292, 691 284, 524 286, 330
79, 107 123, 776 152, 621 142,658 136, 494
111,729 127, 980 140, 070 141, 866 149, 836
20,785 41, 126 67, 357 75, 333 58, 308
18,423 36, 550 63, 977 72, 162 55, 959
3, 380
3,171
2,349
2, 362
4,576
277, 072
124, 635
152,437
47, 255
44, 563
2, 692
inventories, book value, end of year,
unadjusted, total (mil. of dol.)§
51, 521
29,038
13, 956
Durable-goods industries
15,082
Nondurable-goods industries
7,913
Wholesale trade, total
3,531
Durable-goods establishments
Nondurable-goods establishments— __ 4,382
Retail trade, total §
14, 570
6,293
Durable-goods stores
Nondurable-goods stores
8,277
Manufacturers' orders (mil. of dol.)
New (net), total
Durable-goods industries
Nondurable -goods industries
Unfilled, end of year, unadjusted...
Durable-goods industries.N ond arable-goods industries
479,000
231, 416
105, 649
125, 766
103,896
34,196
69,700
143, 689
62,936
90,753
537,853
266,460
125, 194
141,266
113, 168
37,626
75,542
158,225
54,478
103,744
63,707
34,534
16,768
17, 766
10, 474
4,858
5,616
18,699
8,161
10, 638
74,095
43,123
22,689
20,434
11,068
5,651
5,517
19,904
8,989
10, 915
93,168 111, 610
6,765
3,338
1,427
5,339
4,321
1,218
7,323
6,117
1,206
6,601
5,550
1,0*2
22,789
16, 384
8,267
28,454
21,454
12,600
31,182
21,764
10,973
33, 008
22,107
11, 100
35,256
23,877
11,930
37,170
25,720
13,450
3,228
6,405
2,068
2,131
3,777
7,000
2,384
2,272
5,152
9,418
3,497
2,518
5,014
10,901
4,136
2,820
5,680
11,379
4,352
3,165
6,189
11,450
4,535
3,525
Total 14 years old and over, monthly
109,773 110,929 112,075 113,270 115,095
average (thous. of persons)
63, 721 64,749 65,983 66,560 67, 362
Labor force, incl. Armed Forces, total
62,105 63,099 62,884 62,966 63,815
Civilian labor force
68,710 59, 957 61,005 61,293 62, 213
Employed total
6,805
7,054
7,607
6,562
8,026
Agricultural employment.
50,684 52,450 53,951 64,488 55,651
Nonagricultural employment
1,673
1,879
1,602
3,395 3,142
Unemployed
46,051 46,181 46,092 46, 710 47,732
Not in labor force
116,220
67, 818
64,468
61,238
6,504
54,734
3,230
48,402
Employment and Payrolls
Employees in nonagricultural establishments, mo. avg., total (thous.)—.
Manufacturing
Mining
Contract construction
Transportation and public utilities
Wholesale and retail trade
Finance, insurance, and real estate
Government
Production and related workers, all rnfg.:
Payroll index (1947—49 ~- 100)
43,295
14,178
918
2,165
3,949
9,513
1,736
5,000
6,837
44,696
14,967
889
2,333
3,977
9,645
1,796
5,098
5,992
47,289
16,104
916
2,603
4,166
10, 012
1,862
5,278
6,348
48,306
16, 334
885
2,634
4,185
10,281
1,657
5,423
6,609
93.8
97.2
99.6
111.7
106.4
129.8
106.3
136. 6
49,060 348,280
17,259 s 16, 040
2745
844
2,644 » 2, 627
4,224 2 4, 021
10,533 2 10, 524
2,025 22,091
5,486 2 5, 521
6,645 * 6, 710
112.0
151.6
250
240
100
101.8
258
246
101
102.8
302
271
107
111.0
258
262
92
114.4
250
264
89
2114.8
99.2
92.8
95.7
101. 3
103.1
97.5
99.8
105.0
114.8
110.1
111.6
113.4
107.0
97.0
104.6
111.4 ! 108.8
115.9 1 113.2 ! 114.0
2 110.3
» 95. 7
* 105. 3
"114.6
Exports, incl. reexports (mil. of dol.)
General imports (mil. of dol.)
i
i
i
1
1
|
i
!
2 102. 1
2 138. 2
Finance
Money supply, Dec. 31 (mil. of dol.):
27,000 27, 741 29, 206 30, 433 30,781
Currency in circulation
Deposits (adjusted) and currency, total. 169, 781 176,917 185, 984 194, 801 200,917
85, 750 92, 272 98, 234 101, 508 102, 451
Demand deposits, adjusted
58, 616 59, 247 61, 447 65, 799 70, 375
25, 415 25, 398 26, -'103 27, 494 28, 091
Currency outside banks
Federal finance (mil. of dol.):
257, 130 256, 70S 259, 419 267, 301 275, 168
Gross debt (direct), Dec. 31
Budget receipts and expenditures: f
37, 514 37,306 52, 979 64, 840 63, 841
Receipts, net
__
Income and employment taxes— _ _ _ 32, 116 31,900 47, 212 58, 734 57, 743
41,106 37, 728 56, 337 70,682 72, 997
Expenditures, total
12, 849 13, 476 30, 275 43, 176 44, 465
National security \
._
288
273
100
113.6
88,312
8,003
6,666
1,337
Employment Status of the
Noninstitutional Population
j
Prices
Prices received by farmers (1910-14= 100) _
Prices paid by farmers (1910-14=100;
Parity ratio (1910-14—100)
Consumer prices (1947-49=100)
Wholesale prices (1947-49=100):
All commodities, combined index
Farm products _._
Foods, processed
All other
- _ _
96,836 105,200
Construction
Manufacturing and Trade Sales.
Inventories, and Orders
Sales, total (mil. of dol.) §
„_
415, 970
Manufacturing, total__
196,997
84,834
Durable-goods industries.. _
112, 163
Nondurable-goods industries
88,252
Wholesale trade, total
24,695
Durable-goods establishments
63,557
Nondurable -goods establishments
Retail trade, total §-_
_
_. __ 130, 721
43,881
Durable-goods stores
86,839
Nondurable-goods stores
77,978
6,254
5,119
1,134
New construction, total (mil. of dol.)
Private, total
Residential (nonfarm)
Nonresidential, except farm and public utility
Public, total
. Nonresidential building
Highway
New Plant and Equipment Expenditures
1950
Production
National Income and Product
-
1949
30, 509
209, 400
106, 900
75, 100
27, 400
278, 750
61, 169
57, 189
04, 851
42, 808
Foreign Trade
12, 051
6,622
10, 275
8,852
15, 032
10, 907
lo, 201
10, 717
15, 774
10, 873
15, 073
10, 207
@FedFRASER