Full text of Survey of Current Business : February 1956
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEBRUARY 1956
rar
U. S. DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
SURVEY
OF CURRENT BUSINESS
DEPARTMENT OF COMMERCE
FIELD SERVICE
No. 2
FEBRUARY 1956
Alb«qaerq«e, N. Mex.
321 Post Office Bldg.
Log Angeles 15, Calif.
1031 S. Broadway
Atlanta 23, Ga.
50 Seventh St. NE.
Memphis 3, Tcnit.
22 North Front St,
Boston 9, Mass.
U. S. Post Office and
Courthouse Bldg.
Miami 32, Fla.
300 ME. First Ave.
Buffalo 3, N. Y.
117 ElHcott St.
PAGE
THE ECONOMY IN RECOVERY AND EXPANSION—
A Revieiv of 1955
1
NATIONAL INCOME AND PRODUCT IN 1955
Consumer Demand
Investment Demand
Government Demand
National Income by Industries
Types of Income
6
7
8
11
13
13
FINANCIAL DEVELOPMENTS IN 1955
17
PRODUCTION AND TRADE
Manufacturing and Mining Production
New Construction Activity
Agricultural Production and Income
Retail Trade
20
21
24
26
28
FOREIGN BUSINESS
30
*
*
*
MONTHLY BUSINESS STATISTICS... .S-l to S-40
Statistical Index
Inside back cover
Published by the U. S. Department of Commerce, SINCLAIR WEEKS,
Secretary. Office of Business Economics, M. JOSEPH ME EH AN,
Director. Subscription price, including meekly statistical supplement, is
$3.25 a year; foreign mailings, $4.25. Single copy, 30 cents. Send remittances to any Department of Commerce Field Office or to the Superintendent of
Documents, United States Government Printing Office, Washington 25, D. C.
Special subscription arrangements, including changes of address, should be
made directly with the Superintendent of Documents. Make checks payable
to Superintendent of Documents.
Charleston 4, S. C.
Area 2,
Sergeant Jasper Bldg.
Cheyenne, Wyo.
307 Federal Office Bldg,
Chicago 6, 111.
226 W. Jackson Blvd.
Cincinnati 2, Ohio
442 U. S. Poet Office
and Courthouse
Cleveland 14, Ohio
1100 Chester Ave,
Dallas 2, Tex.
1114 Commerce St.
Denver 2, Colo.
142 New Customhouse
Detroit 26, Mich.
230 W. Fort St.
El Paso, Tex.
Chamber of Commerce
Bldg.
Minneapolis 2, Minn.
2d Ave. South and
3d St.
New Orleans 12, La.
333 St. Charles Ave.
New York 17, N. Y.
110 E. 45th St.
Philadelphia 7, Pa.
1015 Chestnut St.
Phoenix, Ariz.
137 N. Second Ave.
Pittsburgh 22, Pa.
107 Sixth St,
Portland 4, Oreg.
520 SW. Morrison St.
Reno, Nev.
1479 Wells Ave.
Richmond 19, Va.
1103 East Main St.
St. Louis 1, Mo.
1114 Market St.
Salt Lake City 1, Utah
222 SW. Temple St.
Houston 2, Tex.
430 Lamar 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 Firit Ave.
For local telephone listing, consult section
devoted to U. S. Government
FEBRUARY 1956
The Economy
in Recovery and Expansion
A Review of 1955
E
CONOMIC developments in 1955 were featured by the
resumption of the long-term advance in the Nation's production and income without appreciable disturbance to the
general stability of average prices. The rapid recovery
Gross National Product
In Current and Constant (1947) Dollars
BILLIONS O F D O L L A R S
(ratio scale)
500
400
-
CONSTANT (1947) DOLLARS
300 -
200
already under way at the start of the year progressed quickly
into growth beyond previous achievements. By midyear
output had risen above the highest previous rate—-that of
the spring of 1953—and had largely absorbed the additional
production capacity provided by the technological advances
and investment of the intervening period as well as the
increase in the labor force.
Production continued to expand during the last half of
the year. The rate of advance was less sharp, however, and
more nearly commensurate with the long-term growth of the
Nation's production potential. The Federal Reserve Board
policy of credit restraint, instituted early in the year and
later strengthened, helped to check advances in demand
beyond what could be matched by additional output. Production of houses and automobiles, which set yearly records
in 1955 and contributed heavily to the earlier phase of the
business advance, was moving downward at the year-end
while output of most other major product groups was
holding even or, more generally, still advancing.
For 1955 as a whole, the value of the gross national product totaled $387 billion. Measured in dollars of constant
purchasing power, this exceeded 1953 output, the previous
high, by 4 percent and the reduced 1954 volume by 6 percent. Prices of consumer goods and services averaged about
the same in 1955 as in 1954 but those of investment items
and Government purchases—particularly of personal services—were higher, so that the dollar value of total output
increased somewhat more than the volume of production.
Substantial advance in consumption
100
90
80
70
60
50
35
1930
40
U. S. Deportment of Commerce, Office of Business Economics
371762°—56
2
45
50
55
56 - 8 - 1
The flow of goods and services to consumers, measured in
constant dollars, expanded substantially more than the
Nation's population last year and brought real consumption
per capita 4}£ percent above both 1953 and 1954. Last
year's advance followed a 4-year period in which per capita
consumption expenditures had shown relatively little increase. Through 1953 rising defense requirements had
largely absorbed increases in output in excess of population
growth, while in 1954 consumer purchases had risen about
in proportion to the population increase despite a decline in
the Nation's output. Last year's rise in real consumption
expenditures per capita represented a substantial part of the
SUKVEY OF CURRENT BUSINESS
total advance which has been achieved since the conversion
from war to peacetime production was completed in 1947.
February 1956
The expansion of output, consumption, and employment
in the United States was part of a general improvement
throughout most of the free world. Rising export and
import trade reflected and contributed to the prosperity at
home and abroad.
Dollar sales by durable goods manufacturers, which had
dropped 11 percent from 1953 to 1954, increased 18 percent
in 1955 and those of nondurable goods manufacturers, which
were off 1 percent in 1954, increased 13 percent in 1955.
Federal Reserve Board indexes showed production gains for
manufactured products of 10 percent, from 1954 and 3 percent
from 1953, and for minerals production of 10 percent from
1954 and 5 percent from 1953. On the railroads, freight-car
loadings increased nearly cftie-eighth and almost equaled the
1953 number.
In contrast to these sectors, the service and financial industries, the utilities, trade, and construction had, for the most
part, maintained or increased revenues and the scale of
operations in 1954. In 1955 the pace of expansion in these
sectors, although strong, was in the main less than in the
industrial segments which had been more affected by the 1954
business adjustment. Nonetheless gains were as much as 9
percent in retail and 8 percent in wholesale sales, 12 percent
in the value of new construction work put in place, and 15
percent in electric power production, where a strong growth
trend was operative.
A parallel pattern of differential advance, largely associated with the recovery aspect of the year-to-year change,
was evident in the distribution of the national income by
type. With total national income up 1% percent to $322
billion in 1955, corporate earnings before tax, inclusive of
the inventory valuation adjustment, rose 22 percent. Beforetax earnings of corporations had dipped rather sharply in
1954 and the subsequent advance approximately restored
the ratio between profits and national income which bad
prevailed before the downturn in the summer of 1953.
Employee compensation, which on an annual basis had
been reduced less than 1 percent in 1954, rose 6^ percent
from 1954 to 1955 as employment increased, average working
hours lengthened, and wage rates advanced. Hourly gross
earnings of production workers in manufacturing averaged
$1.88 in 1955, up 7 cents from 1954; of this amount 5 cents
represented higher straight-time rates. From December
1954 to December 1955 the advance in hourly earnings was
10 cents. Hourly earnings gains in norimanufacturing industries varied, but apparently averaged less than in manufacturing on a percentage basis; in 1954 they had generally
been larger than in manufacturing.
Most other types of earnings—nonfarm proprietors' income, rental income, and net interest—also increased in
1955. Fairly sizable advances in net private interest payments in the past few years, accompanying the advances in
debt and in interest rates, have been gradually raising the
interest share of national income from its postwar low, but
in 1955 it still amounted to only 3 percent of the total as
compared with 7 percent in 1929.
The principal exception to the general income advance,
and to the pattern of changes toward restoration of pre-1954
relationships, was the decline, for the fourth consecutive year,
of the net income of farm proprietors. At about $11 billion
in 1955 farm proprietors' income was the lowest since 1942.
Farm production set a record in 1955, but prices of agricultural products continued downward wiiile no commensurate
reduction occurred in farm costs.
Changes in pattern of production and income
Growth oj investment
Within the private nonfarm economy, sales and production
in all major industrial divisions advanced in 1955, and in
most cases exceeded any prior period. In general, the
sharpest rises from the previous year occurred in those industries which had experienced relatively pronounced reductions in 1954—mainly manufacturing (and in particular the
durable goods industries), mining, and transportation.
Gross private investment in 1955 was valued at over $59
billion. About half of the $12 billion increase from 1954
occurred in inventory investment, which switched from liquidation of $3 billion in 1954 to accumulation of a like amount
in 1955. Residential construction increased $3 billion, as did
nonresidential construction and business purchases of equipment, taken together.
Employment higher
The advance in business activity raised average civilian
employment by 2 million to a record 63 million in 1955.
Unemployment was reduced from a monthly average of 3.2
million in 1954 to 2.7 million, or 4 percent of the civilian
labor force, in 1955. While unemployment was still serious
in certain localities with special problems, the number of
major "areas of substantial labor surplus" in the U. S.
Department of Labor classification dropped from 48 (out of
149 major areas) at the close of 1954 to 19 by the end of
1955. With the exception of 3 small centers, some reduction in unemployment over the year was reported in all
major and minor areas still classified as labor surplus.
Personal Consumption Expenditures
Per Capita
In Constant (1947) Dollars
1947 DOLLARS (ratio scale)
1,500
i t ooo
900
800
700
600
i I i
500
1930
U. S. Department of Co
i i i i i i
1935
i i i
1940
erce, Office of Business Econ
i i i i
1945
i I i
1950
i I
i i
1955
56-8
-2
SURVEY OF CURRENT BUSINESS
February 1956
Selected Monthly Business Indicators
BILLIONS OF DOLLARS
INDEX, 1947-49= 100
360
160
PERSONAL INCOME *
MANUFACTURING PRODUCTION WORKERS
(ANNUAL RATE)
320
I 40
280
I 20
240
100
AVER-AGE HOURLY
GROSS EARNINGS
AVERAGE WEEKLY HOURS
200 A M ' 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
80
BILLIONS OF DOLLARS
120
INDEX, 1947-49 = 100
160
WHOLESALE
1 1 1 11 1 1 1 i 1 1 1 1 1 1 1 1 1 1 1 1 1 I 1 1 1 1 11 i 11 1 1 1 i i 11 1 1 1 1 1 1 1 1 1 i 1 1 1 1 1 1 1 11
PRICES
ALL COMMERCIAL BANKS
140
100
NONAGRICULTURAL
PRODUCTS
\
120
80
60
100
ALL COMMODITIES
AGRICULTURAL
PRODUCTS
40
80
BILLIONS OF DOLLARS
32
INDEX, 1947-49 = 100
180
INDUSTRIAL PRODUCTION
MANUFACTURERS' SALES AND
NEW ORDERS*
160
28
140
24
120
20
100
I I I I I I I I I I I I I I I I I I I I I I I I I I I I 1 I I I I I I I I I I I ll I I I I I I I I I I I I I I I I
1951
1952
1953
Seasonally adjusted
U. S. Department of Commerce, Office of Business Economics
1954
1955
SALES
16
1951
1952
1953
1954
1955
DATA: FRB, BLS, 8 QBE
56-8-3
SUEVEY OF CUERENT BUSINESS
February 1956
In dollar terms, national security expenditures had fallen
from a peak seasonally adjusted annual rate of over $53
billion in the second quarter of 1953, just prior to the Korean
armistice, to less than $41 billion in the last quarter of 1954.
They held, with only minor fluctuations, at the latter rate
throughout 1955 but, with total output expanding, their
proportion of the total continued downward. Thus it was
possible for personal consumption and investment (including
net foreign investment) each to increase its share of the total
output by nearly 2 percentage points over the 2-year period
from 1953 to 1955.
increased by nearly $2 billion, providing funds for additional
internal financing of corporate investment. With capital
consumption allowances on privately owned fixed assets up
by more than $2 billion, the net result was a rise of nearly
$3 billion in total gross private saving. At $58 billion,
gross private saving in 1955 represented 15 percent of the
gross national product, about the same proportion as in each
of the 7 previous years.
The major change in the saving position occurred in the
Government sector. In 1954 the combined deficit on income
and product transactions of all governmental units had
exceeded $7 billion, and to that extent had offset saving in
the private economy. From 1954 to 1955 total expenditures
by all Governments for goods and services, transfer payments, interest, and subsidies scarcely changed, but personal
tax payments and accruals of social insurance and business
taxes increased by a total of nearly $9 billion to convert the
preceding year's deficit to a small surplus on income and
product transactions in 1955. Thus, whereas in 1954 Government operations had to an important extent offset private
saving, in 1955 they supplemented it to a small extent. With
tax rates little altered, the rise in tax receipts or accurals
was almost entirely the result of higher incomes and sales.
This method of presentation does not, however, stress
sufficiently the place of corporate earnings in the change in
the Nation's saving. Of the increase in Government revenues on income and product account, $4}£ billion represented the rise in corporate profits tax accurals. If this
figure is combined with the advance in undistributed corporate earnings, it appears that more than half of the total
increase in the Nation's saving from 1954 to 1955 was rather
directly related to the rise in corporate earnings before tax.
The importance of corporate profits and Government
revenues in cushioning the impact of production changes on
consumer income had also been noted from 1953 to 1954
when, despite a $4 billion drop in gross national product,
disposable income had increased by $4}£ billion, lending
strength to consumer spending and preventing the possibility of a downward spiral of income and expenditures
developing. In that period the "automatic" operations of
the economic and institutional structure, which included
also an appreciable rise in unemployment benefits and other
transfer payments, had been strongly supplemented by
major reductions in tax rates, as well as by credit policies
designed to encourage investment and spending.
Changes in the Nation's saving
Tightening of credit
The $12 billion advance in gross investment in 1955 implies
an equal increase in the Nation's saving. That this was
forthcoming without greater changes in the general price
averages was the joint result of two circumstances: first,
that unused resources and continuing expansion in capacity
permitted a substantial rise in production, and hence in
real income; and, second, that institutional arrangements
were such that a major part of the additional income was
channeled to corporations and, especially, to Government,
where it resulted in a nearly equal increase in saving (or
elimination of dissaving).
The second circumstance was particularly important last
year since consumers were in a mood to spend rather freely;
a $14}£ billion increase in disposable personal income—which
compared with the $27 billion rise in gross national product—
was more than matched by the rise in consumer spending.
Personal saving was consequently reduced by about $1
billion, according to preliminary data. Corporations, on
the other hand, increased dividend payments by less than
the rise in their after-tax earnings, so that undistributed
corporate earnings (exclusive of inventory gains and losses)
At the start of 1955 the Federal Reserve authorities were
moving from a policy of monetary ease to one of active
restraint in an effort to moderate the rise in investment
demands. Actions taken were quickly reflected in short-term
interest rates, which were already pressing upward because
of the growing demand for funds. The higher cost of shortterm credit helped to restrain the sharp advance under way
in businessmen's use of borrowed funds to finance inventory
and other short-term capital requirements.
Costs of borrowing long-term investment funds increased
on the average by about }{ to % of a percentage point and
tended to dampen the growth in demand for long-term funds,
especially for marginal or postponable programs. Costs of
equity financing, on the other hand, were lowered by the continued rise of stock prices and fall in dividend-stock price
ratios.
The impact of higher interest rates was particularly apparent in increasing discounts in the markets for federally supported mortgages. Downpayment and maturity terms on
these mortgages were also tightened last summer from the
unusually easy requirements prevalent in 1954 and early
With 1.3 million nonfarm dwelling units started, a number
exceeded only in 1950 when the average unit was smaller in
size, and with business investment in plant and equipment as
high as in any previous year, the Nation in 1955 made substantial provision for the capital additions required for future
expansion of production and consumption. After the first
quarter of the year advances in business plant and equipment
outlays, designed to expand capacity and replace or modernize worn out or outmoded facilities, were very widespread
among the Nation's major industries.
Percentage advances in investment greater than in total
output are, of course, typical of periods of business recovery.
What distinguished the 1954-55 change in the disposition of
the national output from most other such periods was that
the increased proportion entering investment was not offset
to any appreciable extent by a lower proportion entering
personal consumption, but rather by a decline in the importance of Government purchases, particularly expenditures
for national security purposes:
Percentage Distribution of Gross National Product
Year
Total
Gross private
Personal con- domestic,
and
sumption ex- net foreign,
penditures
investment
Government purchases
Federal national security
Other Federal
and State and
local
1953
100. 0
63.3
13.6
14.1
9. 1
1954
100.0
65.6
13.0
12.0
9.4
1955
100.0
65.2
15.2
10.5
9. 1
February 1956
SURVEY OF CURRENT BUSINESS
1955. These developments were important in the slackened
applications for guaranteed or insured mortgages in the latter
part of 1955. By the fourth quarter such applications were
off more than one-third from the exceptionally high rate of the
year before and some easing of the restrictive features established in 1955 was undertaken in January of this year.
The rise in consumer spending from 1954 to 1955, which has
already been noted, was pervasive and affected most categories of goods and services. However, well over one-third
of the $16 billion advance was in expenditures for durable
goods, which in 1954 had accounted for only 12 percent of
total consumer expenditures. The increase in sales of
durables to consumers, amounting to $6 billion on a year-toyear basis, was at once facilitated by the ready availability
of consumer credit and the chief cause of its sharp advance
during 1955.
Total consumer credit outstanding increased by one-fifth,
or $6.1 billion, from December 1954 to December 1955, and
of this amount $5.4 billion was in installment credit—$3.9
billion in automobile paper alone.
Price developments
The price pattern which emerged from 1955 developments
differed only moderately from that of preceding years,
despite the pronounced changes in the course of production
and incomes. The stability manifested by the general price
averages over the past few years was substantially maintained. On an annual basis, the consumer price index for
city families varied less than 1 percent during the period
from 1952 through 1955, while fluctuations in the annual
indexes of prices paid by farmers for family living and of
wholesale commodity prices were only a little larger. In
each case the 1955 average differed from that of 1954 by less
than 0.5 percent. Changes during 1955 were also small.
At the year-end, the two consumer price indexes were only
fractionally above December 1954, while the wholesale
commodity price index was up 1.6 percent.
Broad differentials in price movements were also rather
similar to those of past years. At the consumer level, prices
of commodities, and particularly retail food prices, moved
downward, as they had also done in 1953 and 1954, while
the course of rents and other service prices—which had risen
less than commodities since the prewar period—remained
upward. At wholesale, prices of farm products and processed foods again declined, but more substantially than in
1954, while the average of other commodities moved higher.
The advance in wholesale prices of commodities other
than farm products and foods was larger during 1955 than
in other recent years and was concentrated in the last half
of the year. From December 1954 to December 1955 the
index of these prices increased by 4.2 percent, with more
than four-fifths of the rise occurring after June. Advances
during this period were fairly pronounced in some commodity
groups, particularly metals and metal products, forest
products, and rubber and products.
Situation at year-end
Expansion in total business continued throughout the
year. The gross national product in the fourth quarter
reached a seasonally adjusted annual rate of $397 billion,
and personal income a rate of $312 billion, about $10 billion
and $9 billion, respectively, above the year as a whole.
Nonagricultural employment in December was 800,000
above the yearly average, after seasonal adjustment.
Advances were smaller than during the recovery phase,
however, and in large measure were stemming from different
sources, with some components moving downward. Thus
gross private domestic investment and consumer expenditures for durable goods together accounted for almost fourfifths of the $26 billion rise in the annual rate of gross national
product from the third quarter of 1954 to the second quarter
of 1955, but for only one-fifth of the further $12}^ billion
advance in the shorter period from the second to the fourth
quarters of 1955.
Within this total, too, decided changes were taking place.
Residential construction activity moved down steadily after
July, leading to steps to ease mortgage credit. In December
the Federal Home Loan Bank Board acted to make additional funds available to saving and loan associations, and
in January 1956 the maximum repayment period on Government guaranteed mortgages was returned to 30 years.
Consumer spending for durable goods, particularly automobiles, also moved down in the fourth quarter, following
a period of exceptionally large sales, and contributed to the
elimination of overtime work in auto production. On the
other hand, business spending for plant and equipment,
which had started to move upward only last spring, was
rising strongly during the second half, and business investment schedules indicated further advances in early 1956.
Aside from pronounced fluctuations in dealer stocks of
passenger cars, the rate of business inventory accumulation
was fairly steady after the second quarter.
The remaining national product components—consumer
purchases of nondurable goods and services, Government
purchases, and net foreign investment, which as a group
make up three-quarters of the product total and generally
are less volatile cyclically—increased much more rapidly
after the second quarter of last year than in the preceding
three quarters. In the later period they contributed to
the advance in total output in rough proportion to their
weight, as a group, in the product total.
National Income
and Product in 1955
1 HE GENERAL character of economic activity last year,
as portrayed in the national income and product accounts,
was one of mounting strength. The recovery from the
1953-54 business readjustment which had begun in the
latter half of 1954 carried output and sales to record volumes.
After an initial period of selective advance, in which the
automobile industry figured prominently, the rise in production became widespread, with the largest increases generally
occurring in the industries where the previous declines had
been most pronounced.
At $387 billion, the gross national product exceeded the
1954 total by $26^ billion, or 7}£ percent, and surpassed the
previous peak year of 1953 by 6 percent. When allowance
is made for price changes, the 1955 total is 6 percent above
1954 and 4 percent above 1953.
The national income measure of total production expanded
similarly, from $299# billion in 1954 to $322^ billion last
year. Marked increases occurred in most types of labor and
property incomes. However, agriculture did not share in the
general gain, as lower farm prices more than offset the rise of
farm production to a record volume.
[Billions of dollars]
Seasonally adjusted quarterly totals at annual rates
1953
Gross national product
Change in business inventories __
Final purchases
National security
Civilian
1954
1955
1953
1954
1955
II
II
IV
364.5 360.5 387.2 369.3 357.6 397.3
1.2 -2.9
3.2
4. 5 -2.7
5.3
363. 3 363. 4 384.0 364.8 360. 3 392.0
51. 4 43.2 40. 8 53.2 43.6 41. 0
311.9 320. 2 343. 2 311. 6 316. 7 351. 0
National income
303.6 299.7 322.3 307.9 298.9
Disposable personal income
250.4 254.8 269.4 250.9 253.9 276.6
The 1955 rise in total output reflected not only an increase
in employment and in the number of hours worked, but also a
rise in real product per man-hour. The rate of increase in
productivity was particularly pronounced in 1955, after
having slackened in 1954 partly as a consequence of the shift
to a lower volume of production in the hard goods industries.
Technological progress and the growing stock of capital
equipment have been primary factors underlying the longterm advance.
Marked changes occurred last year in two of the areas that
had dominated the movement of the gross national product
6
from 1953 to 1954. National security expenditures, which
had been cut back sharply after the termination of the Korean
conflict and continued to decline to the end of 1954, stabilized in 1955. In addition, inventory investment shifted
direction, moving from liquidation to renewed accumulation.
Combined, these two segments of the gross national product
recorded a net rise of $3K billion last year, as compared
with a $12% billion decline from 1953 to 1954. The contrast between these movements is even more marked if the
comparison is made between the second-quarter rates of
1953 and 1954, the high and low points respectively of these
two years, and the fourth-quarter rate of last year.
Increase in civilian purchases
Civilian final purchases, however, played the key role in
the 1955 upturn. These purchases, which had increased substantially even during the period of business readjustment,
moved ahead at an accelerated pace. Advancing by $23
billion from 1954 to 1955, they accounted for more than
four-fifths of the overall increase in the gross national
product.
The pace of consumer spending quickened in 1955. A
particularly steep rise occurred in automobile purchases
which had declined moderately in the previous year. Residential construction followed a similar upward course, registering an increase for the year that was almost double the
advance from 1953 to 1954.
Starting in the second quarter of 1955, the rise was augmented by the recovery in business expenditures on new
plant and equipment. The sharp rebound that occurred
raised the fourth quarter 1955 seasonally adjusted annual
rate of fixed business investment about $5 billion above
the low point in the first quarter. The change for the year
as a whole was more moderate.
Responding to the increasing demand for a wide variety
of community services, State and local government purchases continued to rise at a fairly uniform rate through the
periods of contraction and recovery.
Overall price indexes stable
As a result of these market developments, some key
industries operated at or near capacity, and a number of
basic commodities—notably steel, nonferrous metals, and
some types of building materials—were in short supply'at
times during the year.
The buildup in total expenditures, coupled with substantial
increases in business loans, automobile credit, and home
mortgages, led the Government to shift from a policy of active
credit ease to one of moderate restraints. Financial developments during the year are reviewed elsewhere in this issue of
the SURVEY.
SUEVEY OF CUEEENT BUSINESS
February 1956
On the whole, however, the sharp advance in physical output maintained overall supply and demand in fairly even
balance. General price indexes showed a substantial degree
of stability. The composite of gross national product prices
rose by only slightly more than 1 percent from 1954 to 1955,
approximately the same as the previous year-to-year change.
Consumer prices, which affect the largest segment of the
gross national product, remained virtually unchanged on
the average. Prices underlying the other major components
of final product rose moderately. Price developments,
including those of raw and intermediate goods, are reviewed
elsewhere in this issue.
Year-end position
Gross national product continued to advance throughout
1955, but the rate of growth slackened somewhat during the
second half of the year. In the fourth quarter the retardation was attributable to a marked slowdown in the rate of
growth of final purchases, as expenditures for new cars and
new houses dropped below the unusually high rates that
were achieved earlier in the year, and other lines of expenditures, such as fixed business investment, showed a slower
rate of growth. Partly offsetting these developments was a
substantial increase in inventory investment which accounted
for about one-half of the total increase in gross national
product from the third to the fourth quarters.
Table 1.—Gross National Product or Expenditure in Constant
Dollars: 1947-55 1
1951
1952
1955
Gross National Product ._ 232.2 243.9 241.5 264.7 282.9 293.3 306.5 300.5
318.8
Personal consumption expenditures
-_
______
Durable goods
Isi endurable goods
Services
Gross private domestic investment
.
New construction
Producers' durable equipment
Change in business inventories - Net foreign investment
Government purchases of goods
and services
_ __
Federal _ _ _ _
State and local
_ _
Gross2 government product
Other gross product 3
1
1949
1954
1947
1948
1950
1953
Net accumulation of cash and securities
165.0 168.0 172.3 182.8 183.6 189.2 197.4 200.7
20 6 21 3 22.4 27 2 24 2 23 9 26 7 26 9
93.1 93.3 94.7 97.2 99.0 102.3 105.3 106.5
51 3 53 5 55.2 58 4 60.4 63 0 65 4 67 4
213.9
32 4
111.9
69 6
Net increase in private insurance and pension reserves.
29.7
14.0
38.8
16.1
28.1
15.8
45.3
20 0
45.2
19.0
39.1
18 8
39.6
19 8
36.7
21 3
45.3
24 1
16.7
17.7
15.7
18.3
18.4
18.3
19.1
17.4
18 1
5.1 -3.5
7.0
7.8
2.0
.6 -1.9
3.1
.8 —1 1
2.3
16
—.3
13
1l
63.4
58.5
-1.0
8.9
2.1
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
45 6
17 8
69.8
51.2
18.6
61.7
41.5
20.2
16.7
16.6
17.4
18.1
23.0
24.8
24.6
Net investment in nonbusiness real property
1
Net investment in noncorporate enterprises (including
farms) 2
Errors and omissions
Personal saving
1955
13
Net liquidation of consumer debt
17
5%
6
—%
-5
2
— 4J^
3
1
-5
3
17
1. Gross acquisitions of nonfarm dwellings together with nonprofit institutional construction
less depreciation and the net increase in mortgage debt.
2. Gross investment in platit and equipment, plus the net change in inventories, less depreciation, and the net increase in mortgage and other debt.
37 2
21 2
Durables lead advance
24.0
23.8
215.6 227.3 224.0 246.6 259.9 268.5 281.9 276.4
295.1
The expanded demand for consumer durables carried the
total outlays for these goods up to $35}£ billion in 1955, a rise
of one-fifth from the preceding year. (See table 2.) The
dynamic character of this rise is emphasized by the fact that
it accounted for over 20 percent of the total increase in the
gross national product even though total purchases of consumer durables comprise less than 10 percent of the production aggregate.
The sharp spurt in purchases of automobiles and parts,
from $12}£ billion in 1954 to $17 billion last year, accounted
for the major part of the advance in the durable goods total.
These expenditures reflected not only a record number of
passenger cars sold but also a shift to larger and more expensive models, and a wider acceptance of many optional
accessories, particularly of the newer automatic varieties.
On a seasonally adjusted basis, auto purchases started to
recover in the first half of 1954 from the drop experienced in
the latter part of 1953. Their annual rate rose by about $1
billion in the second half of 1954, and by an additional
1. For earlier years see July 1955 issue of the SURVEY OF CURRENT BUSINESS, pp. 22, 23.
2. Compensation of general government employees.
3. Gross national product less compensation of general government employees, i. e. 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.
A large part of the fluctuations in the rate of inventory
investment in 1955 was attributable to swings in automotive
dealers' stocks. After increasing in the first half of the year,
these underwent some liquidation in the third quarter to
make way for the new models, and experienced a sizable
build-up in the fourth. When automobile stocks are excluded, the aggregate of all other inventory investment
showed a more even pattern of moderate accumulation, in
line with the advance in overall economic activity.
Consumer spending reached a new peak in 1955, rising to
$252}£ billion. The $16 billion increment in these purchases
accounted for over half of the advance in total national output. With average consumer prices essentially stable, the
bulk of the rise represented an increase in the physical volume
of goods and services—the largest year-to-year gain since
1946.
The advance in consumer buying last year was supported
primarily by rising incomes stemming from the expanding
volume of economic activity. Disposable personal income
rose by 5% percent, from $255 billion in 1954 to $269 billion
in 1955. However, as in 1954, consumer spending increased
at a somewhat faster rate, and the proportion of income saved
dropped from 7 percent to 6 percent on an annual basis.
The disproportionate increase in consumer spending seems
to have been associated primarily with the upsurge in automobile purchases in the financing of which consumer credit
played an important role. Automobile paper accounted for
almost two-thirds of the advance in consumer credit in 1955.
The following breakdown of personal saving by changes
in major types of assets and liabilities clearly reflects these
developments. As can be seen, the major changes were a
substantial increase in the net accumulation of cash and
securities and a similar advance in the rate at which consumers were incurring new debt. In addition there occurred
a sizable drop in the growth of individuals' net investment
in new homes, reflecting largely a rapid increase in mortgage
debt. Changes in the other major components of saving
were relatively small.
Composition of Personal Saving
[Billions of dollars]
[Billions of 1947 dollars]
Item
CONSUMER DEMAND
SURVEY OF CURRENT BUSINESS
8
billion in the first half of 1955, when it reached $16}2/ billion.
Although expenditures in the latter half of 1955 averaged
slightly higher than in the first, this reflected an unusually
high third-quarter rate which was not maintained in the
closing quarter.
Purchases of consumer durables other than automobiles
also displayed strength last year. Furniture was the leading
gainer, although marked advances were also recorded in
household appliances—notably laundry equipment, refrig-
Gross National Product
By Major Components
BILLIONS OF DOLLARS
425
TOTAL GROSS NATIONAL PRODUCT
400
375
February
1956
era tors, and ranges—as well as in floor coverings and in
radio and television receivers. The continuation of the
steady expansion in new home construction and liberal
credit terms, as well as the rising trend of personal income
were important elements supporting demand for household
durables.
Rise in nondurable^
The $5 billion rise in consumer spending for nondurables
last year was less concentrated in food purchases than had
been the case for the past several years. These purchases,
however, still accounted for three-fifths of the total dollar
increase and for a larger share in real terms. Clothing
purchases, in contrast, broke out of the narrow range within
which they had fluctuated since 1951, and advanced to
$20^ billion, a rise of about $1 billion over 1954.
The steadily expanding volume of passenger car traffic was
reflected in a further advance in gasoline and oil expenditures.
These rose by %% billion, about the same as the average
annual increase in the past decade. Tobacco purchases
also rose in 1955 following a brief reversal of their uptrend
in 1953-54.
Services continue uptrend
350
325
300
275
i
1
lv-1
i
i
I
i
i
i
I
i
i
i
i
i
i
PERSONAL CONSUMPTION EXPENDITURES
250
225
200
1 7 5 IA
75
i
i
i
i
i
i
I
i
i
i
I
i
i
FIXED INVESTMENT*
50
I
25
i
25
CHANGE IN BUSINESS INVENTORIES
- 2 5 1 , 1 - 1
i
L
i
i
100
G O V E R N M E N T PURCHASES OF GOODS & SERVICES
75
50
1952
1953
1954
1955
QUARTERLY TOTALS, SEASONALLY ADJUSTED,AT ANNUAL RATES
** Including net foreign investment
U. S. Department c^f Commerce, Office of Business Economics
56-8-4
Consumer expenditures for services continued their strong
postwar growth in 1955. As in the past several years, the
rental value of housing (including imputed rentals on owneroccupied homes) was enlarged by a substantial influx of
newly constructed dwellings; new nonfarm housing starts
amounted to 1.3 million units last year. Average rents also
continued to rise from 1954 to 1955 but at a much slower rate
than in any of the preceding years of the postwar period.
The steady expansion in the rental value of housing was
accompanied by an even larger percentage rise in outlays for
the related household operating services, particularly utilities.
Electricity and gas consumption by households was up about
10 percent over 1954, with higher rates of consumption per
household accounting for about two-thirds of this rise, and the
increase in the number of users for the remainder. Telephone
service showed a similar rate of advance last year, with the
number of new subscribers accounting for about half of the
total increase.
Expenditures for personal business services showed a much
larger rise last year than they had the year before. This was
primarily attributable to the sharp advance in interest on
personal debt which reflected the increase in the volume of:
consumer debt outstanding and, to a lesser extent, the rise in
average interest rates that occurred during the year.
INVESTMENT DEMAND
Gross private domestic investment rose to $59 billion in
1955—an increase of one-fourth over 1954. The largest
single factor was the $6 billion shift in inventory investment—from liquidation of $3 billion in 1954 to an accumulation of more than $3 billion last year. The remaining half
of the increase occurred in fixed investment and was about
equally divided between business capital purchases and new
residential construction.
The boom in private nonfarm residential construction carried the total of these expenditures to $16}2/ billion in 1955,
almost one-fourth higher than in the preceding year. Outlays rose steadily within the 1954-55 period to a crest in
the third quarter of 1955 when they were at a seasonally
adjusted annual rate of $17 billion. They dropped to a
$16 billion rate in the final quarter, about the same as the
rate for the first 3 months of the year. (A more detailed
discussion of construction is presented in a subsequent section of this issue.)
February 1956
SURVEY OF CURRENT BUSINESS
Expenditures for new plant and equipment by nonagricultural business firms expanded over a broad industrial
front in 1955, totaling $28}? billion, about equal to the previous high in 1953 and 6 percent higher than in 1954, according to the Commerce-SEC survey.1 A sizable part of the
rise last year, however, reflected the increase in capital goods
prices for the year as a whole.
Table 2.—Personal Consumption Expenditures: 1953-55
[Billions of dollars]
1953
Goods and services, total
Durable goods, total
Automobiles and parts
Furniture and household equipment
Other durable goods
Nondurable goods, total.
Clothing and shoes
Food and alcoholic beverages
Gasoline and oil
Other nondurable goods
Services, total
Household operation
Housing
Transportation
Other services
1954
230.6 236.5
29.8
13. 2
12. 8
3. 9
1955
252.3
29.3
12. 5
12. 9
3. 9
35.3
16. 8
14. 3
4. 2
118.9 120.9
19 8 19 7
71. 9 73. 3
6. 6
7. 2
20. 6 20. 7
125.9
20 5
76. 4
7. 7
21. 3
86. 4
12. 6
29. 8
7. 3
36. 8
91. 2
13. 6
31. 2
7. 4
38. 9
81. 8
12. 1
27. 9
7. 3
34. 6
9
returned to their previous high. They exceeded $12}£ billion
in the fourth quarter, and a further rise of over $% billion, at
seasonally adjusted annual rates, was anticipated by manufacturers for the first 3 months of this year. During the
recent upturn capital outlays by durable goods companies
rose more rapidly than those by nondurable goods companies;
an increase of about 30 percent from the first to the fourth
quarter of 1955 in the former group compared with a 20
percent rise in the latter.
On an annual basis the largest relative gains in the durable
goods industries were shown by the stone, clay and glass, and
iron and steel industries. Nonelectrical machinery companies also stepped up investment sizably from 1954 to 1955.
Autos and primary nonferrous metals reported reduced outlays on a year-to-year basis, but evidenced substantial upward spending trends within 1955.
Among the nondurable goods industries, higher expenditures in 1955 were made by petroleum, rubber, paper and
textiles producers. Capital outlays by chemical companies
fell from 1954 to 1955; after an exceptionally low first quarter,
however, spending in the remaining quarters of 1955 was
above the corresponding quarters of the previous year. Fixed
investment by food and beverage producers during 1955 has
shown stability at somewhat lower rates than in 1954.
Nonmanufacturing
outlays generally higher
Commercial companies in 1955 recorded their third successive year of increase in capital spending; other major nonSource: U. S. Department of Commerce, Oince of Business Economics.
manufacturing industry groups slaowed recovery from reduced 1954 rates of expenditure. Capital outlays by the
Additions to productive facilities rose sharply during 1955,
"commercial and other" group exceeded $9 billion in 1955,
reversing' the steady downtrend between the third quarter of
the increase of nearly $1 billion from the preceding year
1953 and the first quarter of 1955. By year-end, capital
accounting for about two-thirds of the rise in aggregate
outlays were at a seasonally adjusted annual rate of $31
plant and equipment expenditures.
billion, as compared to $25}2 billion in the opening quarter
Railroads increased their capital improvement programs
and $29 billion in mid-1953. Capital programs reported by
in 1955 by about 10 percent while more moderate relative
business indicated further expansion in spending in early
increases were made by other transportation firms arid the
1956.
utilities. Fixed investment by mining companies in 1955
changed little from 1954.
Factors affecting investment
Within 1955, the largest relative increase was in railroads
which, along with manufacturing, had experienced the
Many factors contributed to plant and equipment demand
sharpest cutbacks in capital outlays from 1953 to 1954.
in 1955. A high and increasing rate of sales sharply raised
Railroad investment in the fourth quarter of 1955 was more
business net earnings— and, in some commodities, brought
than one-half again as large as the seasonally adjusted rate in
pressures upon capacity. Wage rate increases and selling
the opening quarter of the year, and further increases were
competition increased the demand for more efficient producexpected in early 1956. One of the striking features in the
tive facilities. New products and industrial processes, as
current capital goods situation is the rise in unfilled orders for
well as the prospect of continued population growth and
freight cars from 15,000 on January 1, 1955, to 147,000 at the
shifts, were also important investment incentives.
beginning of this year.
Rapidly increasing depreciation and amortization charges,
Capital outlays by the other major nonmanufacturing
near-record after-tax earnings, and a favorable securities
market facilitated the financing of investment in 1955. groups also advanced sizably—after seasonal allowances—
Certificates of necessity under the rapid tax-amortization
through 1955. However, except for communications schedprogram were issued for about $3 billion of defense facilities
uled spending by these industries in early 1956 was at rates
during the year. While substantially lower than in the
little different from the fourth quarter of 1955. Programs of
years 1951 to 1953, this amount compares with less than $1
communications companies indicated a further rise in the
billion of new certifications in 1954. In terms of value the
first quarter of 1956.
bulk of the 1955 certificates were issued to electric power
Shift in inventory investment
companies and railroads.
Manufacturers purchased almost $11 }£ billion of new plant
Net investment in business inventories in 1955 amounted
and equipment in 1955. This amount was somewhat larger
to
over $3 billion, as contrasted with a liquidation of similar
than in 1954 but moderately lower than in 1953.
magnitude in the preceding year. The liquidation of invenThe year 1955 witnessed
a
reversal
of
the
prior
downtrend
tories was substantially reduced in the fourth quarter of 1954
in manufacturers 7 fixed investment. Capital outlays had
and net accumulation occurred in each of the quarters of the
fallen from a seasonally adjusted annual rate of almost $12
past year. (See chart.) To a large extent, quarterly flucbillion during the first three quarters of 1953 to $10 billion
tuations reflected changes in retailers' stocks of new cars.
in the first quarter of 1955. In the ensuing six months, they
In terms of the current value of the net change, about two1. The sharper 1954-55 increase in the sum of the new nonresidential construction and
thirds of the accumulation of inventories in 1955 occurred in
producers' durable equipment components of the gross national product than in plant and
equipment expenditures as reported by the Commerce-SEC survey is due mainly to the more
trade and one-third in manufacturing. Since inventory reimportant influence of automobiles in the national product series, reflecting differences in
ductions in 1954 had been concentrated in manufacturing, the
industrial coverage.
371762°—56
2
SUEVEY OF CURRENT BUSINESS
10
1955 accumulation did not offset the previous year's decline
in that industry although it did so in the aggregate.
Increases in the book value of inventories, which differ
from the inventory component of gross national product by
including changes in replacement costs, were somewhat
larger in 1955 as industrial prices advanced, especially in the
third and fourth quarters. These price rises had a strong
effect on the book value of manufacturing inventories, particularly in the durables group.
Manufacturers9 inventory trends
February 1956
occurred in the second half of the year. Among the nondurable goods industries fluctuations were minor throughout
the year.
Trade stocks rise
The change in automobile inventories was the major
element in the advance in retail trade stocks in 1955, although
some accumulation also occurred in apparel, food, and
department stores. Wholesale inventories increased moderately. About one-half of the increase in the book value
Table 3.—Manufacturing and Trade Inventories: 1951-55
In terms of book values, more than four-fifths of the advance in factory inventories in 1955 was in the durable goods
industries, where the major liquidation of the previous year
had also occurred. Book value increases were most substantial in the metal using industries (fabricated metals,
machinery and transportation equipment) and accounted for
the bulk of the increase registered by the heavy-goods group
as a whole. Inventories of nondurable goods producers
showed little change, except for small increases in the chemical, petroleum and rubber industries.
Working stocks were substantially expanded in 1955 in
line with rising rates of production. On an overall basis,
and in durable goods manufacturing, goods-in-process
showed a larger increase than purchased materials; in nondurables goods manufacturing, on the other hand, purchased
materials accounted for the entire rise in working stocks.
The expanding volume of deliveries and the pressure of
rising orders during the year prevented any appreciable
rise in finished goods stocks held by manufacturers. After
allowance for seasonal variations, finished goods stocks of
durable goods producers were virtually unchanged in book
value during the first 6 months of 1955; a moderate increase
[Seasonally adjusted; end of period]
19 00
1951
Investment reaches record rate in late 1955 and
early 1956 with manufactures leading broad advance
BILLIONS OF DOLLARS
40 -
TotaL_
Durable goods
Nondurable goods
Manufacturing
20. 0 19. 4 19. 6 19. 2 19. 2 19. 3 19. 5 19. 6
9. 1 8. 6 8. 2 7.8 7. 7 7. 8 7. 9 8. 2
2 7 2 7 2 8 2 8 2 8 2 9 3 0 3 0
8 9 8 1 8 6 8 6 8 7 8 6 8 6 8 4
Wholesale
Durable goods
Nondurable goods
DATA: SEC 8 Q B E
U S. Department of G
:e. Office of BIT
56-8-5
9 7 9 9 10. 7 10. 3 10. 5 10 8 10 7 11 2
11. 5 11. 7 12. 0 12. 1 12. 1 12. 4 12. 5 12. 7
1.61 1. 64 1.64 1.68 1.56 1.51 1.51 1.53
1. 95 2. 09 2. 06 2. 17 1. 94 1. 85 1. 82 1. 90
1. 38 1 34 1 33 1 34 1. 29 1 26 1 27 1. 26
1 77 1 90 1 82 1 89 1 73 1 63 1 63 1. 68
Durable goods
Purchased materials
Goods-in-process
Finished goods
1. 93 2. 17 2. 07 2. 22 1. 96 1. 83 1. 81 1. 91
. 66 67 61 62 52 49 49 . 51
. 71 . 87 . 85 . 88 . 80 75 . 74 . 79
Nondurable goods
Purchased materials
Goods-in-process
Finished goods
1 63 1. 66 1. 57 1 58 1 51 1 43 1. 45 1 45
Retail
Anticipated
5. 8 5. 8 5. 9 5.8 5. 7 5. 9 6. 1 6.4
5.4 5. 6 5. 8 5. 9 5. 9 5. 9 5. 9 5.9
Stock-Sales Ratios l
Durable goods
Nondurable goods
1953
I
1954
I
1955
I 56*
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT A N N U A L RATES
11. 1 11. 3 11.7 11.7 11. 6 11. 8 12. 0 12. 3
21 2 21 6 22 7 22 4 22 6 23 2 23 2 23 9
Retail
Wholesale
10 —
42. 8 43. 8 45. 9 43. 3 43. 3 43. 8 44. 7 45. 9
Nondurable goods
Purchased materials
Goods-in-process
Finished goods
Manufacturing
:•:• PUBLIC UTILITIES 8 TRANSPORTATION
38 3 40. 1 42 9 39 8 ; 40 3 41, 1 42. 0 43. 9
36 9 36 6 37 4 37 V 37. 3 37. 6 37.9 38. 2
22. 8 24 4 26 3 24 0 24 1 24 5 25 2 26 3
7. 4 7. 3 7 4 6. 3 6 3 6. 6 6. 9 7. 0
8 6 10, 2 10. 6 9 8 9. 9 10. 0 10. 2 1 1 . 0
6. 8 6. 9 8. 3 7.9 7. 9 7. 9 8.0 8. 3
Durable goods
Nondurable goods
20 -
75. ?, 76.7 80.3 76.9 77.5 78.8 80.0 82.1
Durable goods
Purchased materials
Goods- in-process
Finished goods
Total
30 ~
June Sept. Dec.
Book Values, Billions of Dollars
-
TOTAL
1953
Mar.
Durable goods
Nondurable goods
Plant and Equipment Expenditures
1952
Durable goods
Nondurable goods
56
63 . 61
72
64
59
58
61
"Q
. 58 . 59
. 78 . 74 . 67 . 65 . 61 . 08
. 22 . 23 . 23 . 22 . 22 . 21 . 22 . 22
. 63 . 69 . 67 . 71 .68 . 64 . 64 . 63
1 20 1 18 1 25 1 29 1, 21 1 21 1 21 1 21
1, 81 1. 89 1 . 95 2. 00 1. 81 1. 77 1. 77 1. 83
. 90 .85 . 90 . 96 .91 . 92 . 92 . 90
1. 63 1. 53 1.57 1. 58 1. 50 1.49 1. 49 1. 49
2 09 2 04 2 08 2 13 1 94 1 92 1 88 1 Q1
1. 39 1 27 1. 29 1 2Q 1 25 1 25 1 26 1 25
1. Ratios are weighted average inventories to average monthly sales.
Source: U. S. Department of Commerce, Office of Business Eco-
SUEVEY OF CURRENT BUSINESS
February 1956
of trade inventories was accounted for by automobiles,
with the remainder about evenly divided between other
retail trade and wholesale trade.
Stock-sales ratios lower
The ratio of inventories to sales for manufacturing arid
trade combined declined during 1955 as a result of the relatively greater rise in sales than in stocks. (See table 3.)
The ratio fell steadily in the first 6 months and showed little
change in the third quarter. During the last quarter, it
was fractionally above the midsummer ratio. At the yearend inventories of manufacturing and trade firms represented about \% months7 sales—about as high a turnover
rate as any in the last 5 years.
Inventories
Nonfarm inventories were increased during 1955
11
The largest decline in inventory-sales ratios occurred in
the durable-goods manufacturing industries. As a result of
the particularly sharp sales rise in this area, the end-of-year
ratio of 1.9 months was a sixth smaller than that a year
earlier. However, the fourth quarter rate was above the
third quarter in all heavy-goods industries. This tendency
for inventories to advance relative to sales late in the year
centered in working stocks. The stock-sales ratio for nondurable goods producers dropped 8 percent over the year to
1.4 months' sales, one of the lowest rates in recent years.
The drop occurred in the first half of the year. On an overall
basis, the ratio showed little change thereafter.
Stock-sales ratios of trade firms showed less decline during
1955 than did those of manufacturers. As in manufacturing,
sales of durables expanded faster relative to inventories than
those of nondurables. However, the ratio for durable goods
dealers, at 1.9 for the end of the year, was up a little from
the midyear ratio largely as a result of accumulation of
motor vehicles. Retailers of nondurables reduced stock sales ratios slightly during the last 3 months of the year.
BILLIONS OF DOLLARS
Net foreign investment unchanged
CHANGE IN NONFARM INVENTORIES
(GNP COMPONENT)
6 -
Net foreign investment, which measures the excess of
exports over imports of goods and services other than those
financed by United States gifts and grants to abroad, remained negligible in 1955. The gross flow of both United
States exports and imports registered gains from 1954 to
1955, as economic activity expanded both at home and in
many foreign countries. However, these changes were of
approximately equal magnitude and did not alter the balance. The increases in trade represented larger physical
volume as unit values remained comparatively stable on a
year-to-year basis.
2 ~
GOVERNMENT
-6
1953
1954
1955
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
Stock-sales ratios were lowered during the year
as sales rose more rapidly
RATIO*
MANUFACTURING
2.0
RETAIL
TRADE
1.5
WHOLESALE TRADE
1.0
1953
1954
1955
* Ratios are based upon seasonally adjusted data; inventories are
book value end of quarter and sales are average month for quarter
U. S. Department of Commerce, Office of Business Economics
DEMAND
Combined Federal, State, and local government purchases
of goods and services amounted to $76 billion last year, about
I percent below the 1954 total. A reduction in Federal
purchases more than offset the continued rise in State and
local outlays.
Federal Government purchases in 1955 accounted for
about 12 percent of the gross national product, as compared
with 13}£ percent in 1954, and with 16}^ percent in the second
quarter of 1953 when they were at their highest point in the
postwar period.
National security expenditures continued to govern the
movement of the Federal total. These outlays were stable
throughout 1955 at approximately the rate prevailing in the
final quarter of 1954. However, inasmuch as they had moved
down from a higher rate during 1954, the total for 1955 was
almost 6 percent below the prior-year figure. The bulk of
the dollar decline was in outlays for hard goods. The impact
of the reduction of 300,000 in armed force strength on total
military payrolls was offset to a considerable extent by the
increase in pay which became effective in April of last year.
State and local government purchases, in contrast, rose
by almost $2}£ billion last year, continuing the steady uptrend that has characterized their postwar movement. At
$30 billion these outlays represented almost two-fifths of all
public purchases. Employee compensation, which rose at
about the same rate as in the preceding year, accounted for
somewhat more than half of the total increase in 1955.
Increases continued in both the number of persons employed
and in average annual earnings. The advance in the total
wage bill was divided about equally between public education
and nonschool functions. The bulk of the remainder of the
total advance last year was in construction expenditures,
primarily for schools and highways. The increase in these
programs, however, was less than in 1954.
SURVEY OF CURRENT BUSINESS
12
February 1956
Table 5.—National Income and Product, 1953, 1954, and 1955
[Billions of dollars]
!
i
1953
1954
Unadjusted
Seasonally adjusted at annual rates
195.1
1955
I
I
II
i
1954
!1
III
IV
I
II
Compensation of employees
.. -
II
III
IV
299. 7
322. 3
76.4
80.3
82.0
297.7
298.9
298.7
303.2
311.4
320.7
325. 7
207.9
221. 3
52. 6
54. 6
56.1
57.9
206.7
207.2
207.8
209.8
213.1
219.5
224.3
228.0
198.5
164.7
10.3
23 5
10 8
196.? !
162.-! ;
9.5
24.4 !
11.7
2^8. 5
173.2
9.1
26.2
12.8
49.4
40.7
2.3
6.4
3.2
51.4
42.5
2.3
6. 6
3.2
52.9
44.4
2.3
6.2
3.2
54.8
45.6 i
2.3
7.0
3.1
195. 2
161.7
9.7
23.9
11.5
195.6
162. 0
9.5
24. 1
11.6
196.1
162.1
9.4
24.5
11.7
198.1
163.8
9.3
25.0
11.8
200. 8
166. 5
9.1
25.3
12.2
207.0
171.7
9.3
25.9
12.5
211 3
175. 6
9. 1
26. 6
13.0
214.7
178.8
9.0
26.9
13.2
48.4
48.4
49.1
12.2
12.2
12.2
12.5
49.0
48.2
48.3
48.2
48.8
48.7
48.8
50.1
25. 9
12.3
10. 3
2~\ 9
12.0
10. 5
27.3
11. 1
10.7
6.6
2.9
2.7
6.8
2.7
2 7
6.9
2. 6
2.7
7.0
2.9
2.7
25.3
13.2
10.4
25.9
11.9
10.5
26.0
11.7
10. 6
26.3
11.2
10.7
26.6
11.5
10.7
27 1
11.0
10.7
27.6
10.6
10.7
28.0
11.4
10.7
37.2
33. 8
41.4
9.1
10.9
11.0
32. 6
34. 0
33. 1
35.5
39.6
42.2
41.9
38.3
21.3
17.0
i i
34. 0
17. 1
17.0
2
43.4
21.8
21.6
9.5
4.7
4.7
11.1
5.6
5.5
11.7
5.9
5.8
32.7
16. 4
16.3
2
33.7
16.9
16.8
2
33. 5
16.8
16.7
36.0
18.1
17.9
40.9
20. 5
20.4
1 3
43.0
21 6
21.4
g
44.5
22.3
22. 2
2 6
_ --
Corporate profits and inventory valuation adjustment.- _
Corporate profits before tax
Corporate profits tax liability _ _
Corporate profits after tax
Net interest
I
209.2
..
Business and professional
Farm
Rental income of persons
IV
303. 6
Wages and salaries. _ . . _ _ _ _ _ _ ._ _ .. _
Private.
Military-. - _ - . __
Government civilian
Supplements to wages and salaries
Proprietors* and rental income !
III
1
NATIONAL INCOME BY DISTRIBUTIVE SHARES
National income
1955
!
-
Addendum: Compensationof general governinentemployees
g
8.8
9.5
10. 5
2.5
2.6
2.7
2.8
31. 6
31.8
33. 3
8.2
8.4
8.0
8.7
364.5
360. 5
387. 2
91.4
95.2
97.4
230. 6
236. 5
252. 3
58.5
62.7
62.5
29 8
118.9
81.8
29.3
120.9
86.4
35.3
125. 9
91.2
7.8
28.3
22.4
9.1
30. 9
51. 4
47. 2
59. 3
14.6
25.8
11.9
13.8
24.4
1.2
19
27. 8
13.5
14.3
22.3
-2.9
—a 9
32.4
16.6
15.8
23.8
3.2
3.0
**
-.4
6.7
3.3
3.4
5.2
2.7
2.7
i
3 1
9.5
9.5
9.7
9.9
10.3
10.7
11.2
31.4
31.5
31.9
32.2
32.3
33.1
33.7
34.0
103.1
358. 3
357. 6
358. 8
367. 1
375. 3
384.8
392.0
397. 3
68.6
232. 2
235. 1
237. 9
241.0
245. 8
250.5
255. 7
257. 2
8.7
31.0
22.8
9.7
35.7
23.2
28.3
119.2
84.7
29.0
120.4
85.7
29.4
121. 5
87.0
30.4
122. 5
88.1
34.4
122.4
89.0
35. 1
125. 3
90.2
36. 9
127. 0
91.8
34.8
128.8
93.6
13.8
16.0
14.9
45.5
46.9
45.9
50.7
54.1
60.1
60. 5
63. 2
8. 2
4.3
3.9
6.2
9.1
4.7
4.4
6. 0
.9
.8
8.3
4.2
4.1
6.3
.3
25.9
11.8
14.1
22.9
—3. 2
-3.4
27.3
13.0
14.3
22.4
28. 5
14.2
14. 3
22 2
-4^9
—5.4
29.4
15.0
14.4
21.9
— 6
-LO
31.2
16. 1
15. 1
21.5
1.5
1.5
32.6
16.9
15.7
23.2
4.3
4.2
33.2
17.2
16.0
24.9
2.4
2.0
32.3
16. 2
16.2
25. 5
5.3
5. 1
2
-.3
2
-1.1
-.3
-.7
.0
-.3
19.2
75.9
75.8
74.5
75.8
74.9
75.8
77.2
9.4
GROSS NATIONAL PRODUCT OR EXPENDITURE
Gross national product
Personal consumption expenditures
Durable goods
Nondurable goods
Services
-
Gross private domestic investment
New construction
- - - Residential nonfarm
_ _ ___
Other
Producers' durable equipment
Change in business inventories — total
Nonfarm only
Net foreign investment
2 o 1
Government purchases of goods and services
Federal
National security
National defense
Other national securit v
Other
Less* Government sales
State and local
.-
84.5
77.0
75.9
18.4
19.4
81.7
-
59 5
51. 4
49 4
2.0
8 5
.4
25.0
49 2
43.2
41.4
1.8
6.3
.4
27.8
45. 8
40.8
38.8
2.0
5.4
.3
30.1
11.6
10.3
9.7
.6
1.4
.1
6.8
11.3
10. 1
9.6
.5
1.3
.1
7.6
11.4
10. 2
'^
L3
.1
7.8
11.6
10.3
9.8
5
1.4
.1
7.9
54.7
46. 8
45.0
1.8
8.3
.4
27.0
48.6
43.6
42.0
1.5
5.4
.4
27.3
47.7
42.1
40.3
1.8
6.1
4
28.1
45. 7
40.5
38.5
2.0
5.5
.3
28.7
46. 4
41.2
38.7
2.5
5. 5
.3
29.4
45.2
40.4
38.5
1.9
5.2
.3
29.7
45. 5
40. 6
39. 0
1.7
5.2
.3
30.2
46.3
41.0
39.2
1.9
5.5
.3
31. 0
_ ._
286.2
287.6
303. 3
72.4
74.7
76. 5
79.7
285.8
286. 6.
287. 3
290.8
293. 6
300.5
306. 1
312.1
35 8
32 4
3.4
250.4
32 8
29.1
3.7
254. 8
33 9
30.0
3.9
269. 4
9.7
8.6
1.2
62.7
9.3
8.2
1.0
65.5
8.6
7. 7
.9
67.9
6.3
5.5
.8
73.4
32.7
29. 1
3.6
253. 1
32.7
29. 1
3. 6
253. 9
32.8
29. 1
3. 7
254. 5
33. 1
29. 3
3.8
257.8
32. 6
28.8
3.8
261.0
33. 4
29.5
3.9
267.1
34. 4
30.4
4.0
271.7
35. 4
31.3
4. 1
276. 6
230. 6
236. 5
252.3
58.5
62.7
62.5
68.6
232.2
235. 1
237. 9
241.0
245.8
250. 5
255.7
257. 2
19 8
18.3
17.1
4.1
2.8
5.4
4.7
21.0
18.8
16.6
16.8
15.3
16.6
16.0
19.4
364. 5
360.5
387.2
91.4
95.2
97.4
103.1
358. 3
357.6
358.8
367.1
375.3
384.8
392. 0
397. 3
27.8
30. 2
1.2
13
30. 0
30.3
1.2
— 8
32. 3
31.9
1.2
7.8
7.6
.3
— 6
8.0
7.9
.3
—1 2
8.2
8.2
.3
—1 2
8.4
8.2
.3
29.2
29.9
1.2
29.fi
30.4
1.2
—2 3
30.4
30.0
1.2
—1 5
30.9
30. 7
1.2
.7
31.2
31.1
1.2
.7
31.9
31.7
1.2
-.2
32.7
32.2
1.2
8
33. 5
32. 6
1.2
.1
.5
_ - . _ _ _
-
.9
18.9
--
-
-3^2
-
DISPOSITION OF PERSONAL INCOME
Personal income
--
Less' Personal tax and nontax payments
Federal
State and local
Equals: Disposable personal income
__ _
Less: Personal consumption expenditures
Equals: Personal saving
RELATION OF GROSS NATIONAL PRODUCT,
NATIONAL INCOME, AND PERSONAL INCOME
Gross national product
Less' Capital consumption allowances
Indirect business tax and nontax liability
Business transfer payments
Statistical discrepancy
Plus: Subsidies less current surplus of government enterprises
-. . .
-.4
-.1
.5
.1
.1
.2
303. 6
299.7
322. 3
76.4
80.3
82.0
Less: Corporate profits and inventory valuation adjustmentContributions for social insurance
Excess of wage accruals over disbursements
37.2
8 7
-. 1
33.8
9 6
.0
41.4
11.0
.0
9. 1
2.9
.0
10.9
2.9
.1
11.0
2.7
-. 1
.0
Plus* Government transfer payments
12.8
5 0
9.3
1.2
15.0
5 2
10.0
1.2
16.0
5.0
11.2
1.2
4. 1
1.
2.6
.3
4. 1
1. 5
2.5
.3
3.9
1.3
2.6
.3
286.2
287.6
303. 3
72.4
74.7
76.5
Equals" National income
Dividends
Business transfer payments
Equals: Personal income
-
_-
-
.--
-
1. Includes noncorporate inventory valuation adjustment.
-.4
.3
.0
-.3
.3
.4
.6
297.7
298.9
298.7
303. 2
311.4
320. 7
325.7
32. 6 1
9.7
.0
34.0
9.6
.0
33. 1
9.6
.0
35. 5
9.6
.0
39.6
10.5
.1
42.2
10.8
.4
41.9
11.2
-.6
11.4
.0
4.0
1.2
3.5
.3
14.3
5. 1
9.7
1.2
1 5. 1
5.2
9.8
1.2
15.0
5.2
10.0
1.2
15.7
5.2
10. 6
1.2
15.9
5. 1
10.2
1.2
16.2
5.0
10.7
1.2
15.7
5.0
11.0
1.2
15.9
5.0
12.2
1.2
79.7
285.8
286.6
287.3
290.8
293.6
300.5
306.1
312.1
Source: U. S. Department of Commerce, Office of Business Economics.
February 1956
SURVEY OF CURRENT BUSINESS
NATIONAL INCOME BY INDUSTRIES
All major industrial divisions except agriculture contributed to the 7}£ percent advance in the national income
last year. (See table 4.) Manufacturing, mining, and
transportation, in which the decline after mid-1953 was
mainly concentrated, showed a marked resurgence, with
the first two of them rising to even higher levels than before
the downturn. The declines in these industries had reflected
the drop in expenditures for hard goods that had resulted
primarily from the cutbacks in national defense outlays and
in business inventory investment. Their subsequent resurgence mirrored the recovery last year in hard goods production, which was of civilian origin, and the advance in
other types of output as well.
Income originating in the other nonagricultural industry
divisions also rose appreciably last year, with gains ranging
from 1} to 8 percent. With the exception of trade, which
temporarily leveled out, these industries had continued to
advance during the 1953-54 contraction, registering at that
time a combined advance of $4)2 billion which offset about
half of the. decline that had occurred in manufacturing,
mining, and transportation.
Rise in manufacturing
The recovery in manufacturing income, which had begun
in the fall of 1954, broadened and accelerated in the first half
of 1955, as mounting purchases of automobiles and other
consumer commodities, along with increased demands for
construction materials, new capital equipment, and exports
gave a sharp spur to industrial production.
In addition to covering this increase in final purchases,
the advance in manufacturers' production was used to
replenish inventories, particularly of durable goods, which
had been liquidated during the previous decline, and to
bring stocks into line with the rising volume of sales.
Although income originating in manufacturing continued
to grow during 1955, the rate of advance tapered off in the
second half of the year. Some strategic industries by then
were operating close to capacity.
The sharp percentage rise in mining income was second
only to that in manufacturing with which it is closely allied.
Income from this industry group also started to rise in the
fourth quarter of 1954, experienced its sharpest advance in
the first 2 quarters of last year, and tended to level out in
the second half. In addition to the stepped up demands of
the metal processing and metal using industries associated
with the recovery in hard goods production, there were
continuing advances in the sale of petroleum and natural
gas to both industrial and household consumers.
The rise in transportation was more gradual than in either
manufacturing or mining, and continued throughout 1955.
At the year-end the income flow from this industry was
running at about the same seasonally adjusted annual rate
as in the first half of 1953. The total for the year as a
whole, however, was still slightly below the 1953 figure.
The other major nonagricultural industry divisions continued or resumed, as in the case of trade, their growth trends
in 1955. Income in trade had dipped in the latter half of
1953 and early 1954 but recovered before the end of that
year. Since mid-1954 trade income has advanced steadily
with the upward course of consumer buying and business
activity.
Earnings from contract construction continued to rise on
an annual basis but dipped in the last quarter. Income
originating in communications and public utilities, services,
and the finance group all followed gradual uptrends that
have been in evidence since the end of World War II.
13
Table 4.—National Income by Major Industrial Divisions: 1953—55
[Billions of dollars]
Item
1953
All industries, total
Agriculture, forestry, and fisheries
Mining
Contract construction
1954
1955
303.6 299.7 322.3
Absolute Percentage
change, chanuc,
1954-55 1954^55
22.6
7.5
16. 8
5 6
15. 3
16. 6
5 2
15.7
15. 8
5 8
16.2
g
6
.5
— 4. 8
11 5
3. 2
Manufacturing
Wholesale and retail trade
Finance, insurance, and real estate
96. 7
51. 8
89. 9 101. 8
52. 0 55. 5
11. 9
3. 5
13. 2
6. 7
26. 3
27. 9
29. 4
1. 5
5. 4
Transportation
Communications and public utilities
Services
15 8
14 6
15 5
9
6 2
10. 1
28 7
10. 8
29 8
11. 7
31 6
.9
1 8
8. 3
6 0
Government and
enterprises
Rest of the world
35. I
1. 4
35. 3
1. 8
37. 1
2 0
1. 8
2
5. 1
11 1
government
Source: U. S. Department of Commerce, Office of Business Economics.
Income in agriculture ran counter to the generally favorable trend last year, showing a further decline. The total
volume of farm marketings exceeded the record that had been
set in the previous year. Prices for both crops and livestock
averaged lower than in 1954, however, and resulted in a
reduction in aggregate receipts. A review of farm production
is presented elsewhere in this issue of the SURVEY.
The increase in income originating in government, which is
measured by compensation of government employees, was
attributable mainly to the further expansion in State and
local payrolls. The Federal Government total advanced
slightly, reflecting an increase in civilian compensation which
was partly offset by a decline in military payrolls.
TYPES OF INCOME
All major types of income, with the exception of that of
farm proprietors, shared in the advance in the national
income last year. The marked increases in employee compensation and in corporation profits more than offset the
declines that had occurred in these shares in 1954. The
1955 advance reflected to a large degree the strong recovery
that was made in industries that had lost ground from 1953
to 1954.
Total compensation of employees in 1955 was roughly
6 percent higher than in either of the two preceding years.
The bulk of the advance was in private industry payrolls.
Private wages and salaries amounted to $173 billion, as
compared with $162^ billion in 1954 and $164^ billion in
1953. These payrolls started to advance in the fourth
quarter of 1954 after remaining comparatively stable in the
three preceding quarters.
Durable goods manufacturing was the most important
factor in the initial upturn, accounting for about threefourths of the rise in that quarter. The advance was greatly
accelerated in the first half of 1955 as the pick-up in industry
became more general. Payrolls both in nondurable manufacturing and in nonmanufacturing industries made increasing contributions to the overall rise. In the second half of
the year the growth of private payrolls slackened. In the
third quarter the rate of increase in the manufacturing
industries slowed. In the fourth, these industries moved
ahead at a somewhat faster pace, and the further slowdown,
in the total private payroll advance stemmed from the movement in a number of nonmanufacturing industries.
SURVEY OF CURRENT BUSINESS
14
February 1050
Factors in payroll change
Employees in Nonagricultural
Establishments
MILL! ONS OF E M P L O Y E E S
56
TOTAL
52
48
-
x
-X
^0l~
44
40
A) 1 1 1 I 1 1 1 1 1 1 1 1 1 1 1 1 i 1 1 I i i 1 i 1 1 ! 1 1 i 1 1 1 1 1 1 1 1 1 ! 1 1 I 1 1 1
20
MANUFACTURING
16
^*
••••
n
*"^
**^^^
TOTAL ^
12
—
"^^^
••J»»»"" '^^"""""^
DURABLE -^
-
^^O-O-O^^^^^O-O-n.
•y****^^
c^^x^X^
^^^^;>-o>x>^v
^tt^yoo-ooo^**
^^ ^>-ox>^<Myo^>-cH>x>^^
8
NONDURABLE
4
*/
»i i i i i 1 i i i i i 1 i i i i i 1 i i i i i
i i i i i 1 1 i i i 1 11 1 l 1 1 I I 1 1 1 i 1
36
NONMANUFACTURING
32
3
^_
—*
""*"
TOTAL
'
28
-
-
24
-
-
20
DISTRIBUTIVE AND SERVICE INDUSTRIES
16
-
1 2
-
-
GOVERNMENT
8
\
• • • • • • •••• * • • • • • • • • • - » • • * *.»•*-•
»•-*
4
MINING AND CONSTRUCTION ~^
0
i i i > i 1 i i < i i 1 i >i i < 1 i i i i i 1 i i < i . ! i i i i i 1 i < i > i 1 i i i i i
1952
1954
1953
MONTHLY TOTALS,
SEASONALLY
1955
ADJUSTED
DATA: BLS
U. S. Department of Commerce, Office of Business E< onomics
56-8-7
The rise in average hourly earnings was the most important
element in the 1955 payroll increase. This factor and the
lengthened workweek together accounted for approximately
two-thirds of the total advance, with the remainder attributable to the rise in emplo^yment.
The principal exception to this fairly general pattern was
in the durable goods manufacturing industries. Here, employment was the most important element in the substantial
payroll increase that occurred, just as it had been the dominant factor in the decline from 1953 to 1954. The increase
in the number of production workers in these industries
accounted for about two-fifths of the 1955 payroll ris
increased wage rates for an additional one-third, and the
longer workweek for the balance.
The general pervasiveness of the increase in average
annual earnings per full-time employee from 1954 to 1955
is shown by table 6. The 4^ percent advance in the allindustry average, which resulted from changes in hours
worked as well as the further rise in basic wage rates, was
about twice as large as the 1953-54 increase. Gains in
manufacturing, mining, communications and public utilities,
and government, were between 5 and 6 percent, while those
in other industry divisions were smaller.
Additional light is cast on the earnings rise in manufacturing by the data on average hourly earnings of production
workers who comprise four-fifths of all employees in manufacturing. As shown in table 7, year-to-year increases in
hourly pay were evident in all but one of these industries
In the durable goods group, the average rise of over 4 percenl
contrasted with a 2% percent increase from 1953 to 1954
whereas hourly earnings in the nondurable goods industries
advanced at the same rate, 3 percent, in both periods.
Full-time equivalent employment in the economy as g
whole rose by almost 2 percent in 1955. A substantial parl
of the increase was in the manufacturing industries althougl
the peak of 1953 was not recovered. Large employmenl
gains were registered also in wholesale and retail trade anc
services, with smaller advances in finance, transportatior
and public utilities. The other major industrial divisions
showed small declines over the year.
In manufacturing, the employment gains (like the in
creases in hours and hourly wage rates) were most pro
nounced in the durable goods industries. The number o
production workers in these industries was 5 percent highe
than in 1954, with the percentage increases in automobile!
and primary metals considerably in excess of this average
The impact of the increase in hours of work last year was
most important in manufacturing, mining and transporta
tion. Within the latter two industry divisions the advance
in hours worked was particularly marked in bituminous coa
mining and in railroads and accounted for most of the in
crease in their payrolls.
In the durable goods manufacturing industries, the pre
vious reduction in hours was halted in the summer of 195^
and the advance started in the third quarter, preceding tin
rise in employment. The increase continued through tin
second quarter of 1955 and tended to level out thereafter
For the year 1955 as a whole, average weekly hours of worl
were restored to their 1953 position, about 1 hour above th
1954 average.
In the nondurable goods industries, hours started to edg
forward early in 1954, but otherwise showed a quarter!;
pattern similar to that in the hard goods industries, and
for the year as a whole, a similar percentage rise.
In the other industrial divisions for which separate infoi
ma tion is available the effect of increased hours was rela
tively unimportant. In fact, in two large industries, reta
February 1956
SURVEY OF CURRENT BUSINESS
trade and contract construction, the average workweek was
reduced fractionally.
Mixed trends in proprietors9 income
Diverse trends in the major components of proprietors'
and rental income held the increase in their combined total
to $/2 billion last year. Nonfarm business and professional
income advanced by approximately $1}£ billion, showing a
moderate uptrend throughout 1954 and 1955. Rental income of persons increased fractionally, about the same as
in the preceding year. The net income of farm proprietors,
on the other hand, showed a reduction of about $1 billion
which stemmed primarily from the further weakening in
agricultural prices as noted earlier. The advance in nonfarm
business and professional income in 1955 was widely distributed industrially. The largest part of the increase occurred
in trade establishments and reflected the spurt in retail
activity which was paced by the record* volume of auto
sales.
Net interest showed a further substantial advance in 1955,
increasing from $9}£ billion to $10}^ billion. Throughout the
postwar period this type of income has had a pronounced
uptrend, reflecting mainly the increased volume of private
lending and borrowing activity which has been an important
element in the postwar prosperity.
15
1954, and exceeded the previous record level of 1951 by
approximately $2 billion.
Inasmuch as the total effective rate of Federal and State
taxes on corporate profits appears to have been substantially
the same in 1955 as in 1954, corporate tax liability and net
income after taxes rose in line with before-tax profits. Taxes
at close to $22 billion—equal to about one-half of book
profits before taxes—amounted to $4}<> billion more than in
1954. Profits after taxes showed a like advance, and their
estimated total, also approaching $22 billion, in 1955 was
second only to that of 1950. Although before-tax profits
were lower in 1950, the effect of this difference on the net
after taxes was more than offset by that of the lower preKorean tax rates.
Corporate Profits
BILLIONS
OF DOLLARS
50
PROFITS BEFORE TAX
CORPORATE
EARNINGS*
40
Corporate profits
Preliminary information on corporate profits for 1955 is
available so far for the first three quarters of the year. The
present annual review assumes, on the basis of indirect
evidence at hand, that no major changes occurred from the
third quarter to the fourth.
Corporate profits before taxes as measured for national
income purposes, excluding inventory gains and losses, recovered sharply last year. The advance from 1954 amounted
to one-fifth, or more than $7 billion, and carried the total
for 1955 past the $41 billion mark, $4 billion above 1953 and
more than $1 billion above the previous all-time high for
1951.
When the rise began in the autumn of 1954, concurrently
with the rapid recovery of production and sales, it centered
largely in industries which had shown particularly marked
declines in 1953-54. Certain branches of durables manufacturing and transportation, in particular, recorded sharp
gains. During 1955, however, increased profits in almost
every segment of corporate business accompanied the spreading of recovery and the transition from recovery to net new
growth in the national income.
Corporate profits rose rapidly in the first half of the year.
No additional major advance seems to have occurred thereafter; but most industries were apparently able to maintain or
expand somewhat their earlier gains.
With the 1955 improvement, the overall percentage growth
in corporate earnings over the past 3 years has very nearly
matched that in the total flow of income from corporations.
However, the current ratio of profits to income originating
is still below the postwar peaks reached in 1950 and 1951.
Postwar developments in corporate profits were discussed in a
special report in the January SURVEY.
Inventory gains, which were negligible in 1954, amounted
to about $2 billion in 1955 as price advances carried the
replacement-cost value of metals and various other inventory
goods above the book values at which such goods were
charged to sales. Book profits before taxes, including inventory gains, thus increased more sharply than the national
income measure of corporate earnings. At over $43 billion
for the year, book profits were more than 20 percent above
30
20
PROFITS AFTER TAX
10
IN VEN TORY VA L UA TION AD JUS TMENT
1952
1953
1954
1955
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
U, S. Department of Commerce, Office of Business Economics
56 - 8 - 8
Dividend payments in 1955 are estimated to have been
about $11 billion, up $1 billion from 1954, and maintained
a rather steady uptrend. Most of the recent variation in
after-tax profits has been reflected in retained earnings rather
than in disbursements.
Industry pattern of profits in 1955
The preliminary data now available indicate that except
for a generally more volatile movement the industry pattern
of last year's improvement in profits strongly resembled that
described above for national income. While over half the
total increase in before-tax book profits occurred in manufacturing, every industry division is estimated to have earned
higher profits in 1955 than in 1954.
The seasonally adjusted annual rate for the JanuarySeptember period last year was above the 1954 total by close
to $9 billion, or one-fourth. About $6 billion of this advance
reflected a one-third increase in profits in manufacturing,
which together with the mining and transportation divisions
SURVEY OF CURRENT BUSINESS
16
had been particularly affected by the 1943-54 decline.
Transportation also showed marked recovery in 1955, while
the annual rate of net income in mining in the first 9 months
is estimated to have surpassed its 1953 level last year.
(Corporate income in this and other divisions is measured
before depletion, in thte national income statistics.)
Other nonfarm industries likewise resumed or continued
their postwar profits rise and the January-September annual
rates topped 1953 by significant margins. The 1954-55
advances represented chiefly a net growth above the previous peaks of recent years in most of these cases: the
utilities group, construction, finance, insurance and real
estate, and the "rest of the world" industry. A substantial
relative rise indicated for trade, like that in manufacturing,
consisted in considerable part of recovery from the earlier
setback, though each of these two divisions is estimated to
have shown 9-month annual rates of before-tax profits well
above the 1953 totals.
Within manufacturing, the annual rate of profits through
September in the durable goods industries rose more than
40 percent above the 1954 total, a percentage increase nearly
twice that of the nondurables. Profits in the latter, it should
be noted, had not declined as much as those in the durable
lines in the preceding year. Autos and the primary metals
groups accounted for the major part of the durables increase,
which was also marked by advances in lumber and in the
stone, clay and glass group as demand for building materials
strengthened. After rn.id.year the machinery and transportation equipment industries seem to have replaced the automobile group among the chief centers of expansion. For
the year as a whole, business and consumer demands combined to push durables manufacturing profits to a new high.
While increases in the nondurables were more limited, the
annual rates of profits in the first 9 months of 1955 exceeded
those for the vear 1953 in nearly every industry line. ImTable 7.—Production Workers in Manufacturing:
portant advances from 1954 were recorded in chemicals,
which accounted for almost 40 percent of the total nondurables increase, and in rubber and leather. Textiles also
moved up sharply, reversing the severe setback of the
previous year.
Table 6.—Employment, Payrolls, and Average Annual Earnings by
Major Industrial Division: 1954-55
Item
Manufactures
Durable goods
Number of fulltime equivalent
employees l
Wages and
salaries
Data in
thousands
Millions of
dollars
1954
All industries, total
- - . - 53,311
Agriculture, forestry and fisheries
Mining
•_.. _ _
Contract construct ion
1954
1955
54, 270 196, 244 208, 482
3,681
3, 842
4.4
1955
1955
3, 473
3, 552
11,367
1,675
4, 385
4,370
1,709
4, 631
4, 445
2.0
5. 6
1.7
Manufacturing
Wholesale and retail trade
Finance, insurance, and real
estate - _
-
16,015
9,629
16, 584
9, 834
66, 037
34, 736
72, 102
36, 578
4,123
3,607
4,348
3,720
5.5
3. 1
2, 053
2,127
8, 138
8,739
3, 964
4, 109
3.7
Transportation
. .__
Communications and public
utilities
_
Services
2, 562
2, 595
11,691
12, 204
4,563
4, 703
3.1
1, 389
6,420
1,409
6, 683
5, 883
17,770
6, 268
18, 886
4, 235
2,768
4, 449
2,826
5. 1
2.1
Government 2
9,819
9,682
33, 847
35, 313
3,447
3,649
5.9
43, 492
44, 588 162, 397 173, 169
3,734
3,884
4.0
41, 562
42, 692 159, 322 170, 092
3,833
3, 984
3.9
Addendum:
All private industries
All private nonfarm industries
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 or 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, Hours, and Average Hourly Earnings
Hours worked per week in 1955
^
Percent
change
from 1954
4th
quarter
average
f±"^54
j
Percent
change
Average hourly earnings in 1955
A^^I
M
™
1954
3. 8
13, 482
6.7
40.7
2.5
41.2
2.5
3.9
$1.92 I
5.5
5.1
7,822
9.2
41.3
2.7
41.9
2.7
2.00
4.2
2.05 \
5.7
89
680
-23.3
7 4
-14.3
?! 3
8.7
16.4
8.2
40. 7
40.9
41.4
41.5
41.2
41.5
1.2
.7
3.2
2.2
6.5
2.0
41.1
40.8
42.3
41.9
41.9
42.0
1.2
-.7
2.7
1.7
6.1
1.9
2.05
1.68
1.61
1.85
2.24
1.98
3.5
3.1
2.5
4.5
7.2
4.2
2.09
1.69
1.65
1. 89
2.31
2.03
4.0
1.8
4.4
5. 0
7.9
5.2
42. 6
41.5
41. 1
43. 1
41.6
41.3
5.2
2.5
1.0
1.4
3.2
2.0
2.09
1.88
2.15
2.30
1.90
1. 66
4.0
3.3
2.9
4.5
3.8
3.1
2.14
1.91
2.20
2.36
1.94
1.69
$1.88
Stone clav and glass products
Primary metal industries
Fabricated metal products
460
1 , 098
877
(i. 7
10.8
4.7
Electrical machinery
- . _ _Transportation equipment, except automobiles .. . ,. __.
Automobiles
Instruments and related products
Miscellaneous manufacturing industries
1, 167
829
669
764
220
385
1.7
4.3
-5.4
21.7
-1.3
1.6
1,213
878
673
795
226
402
10. 6
8.8
.4
22.5
3.7
4.4
41.8
40.7
40.9
42.8
40.8
40.6
3.0
2.3
1.2
5.4
2.0
1.8
5,514
2.0
5,660
3.4
39.8
2.1
40.4
2.3
1.71
1 095
93
982
1,089
451
— 5
-1.1
.6
4. 1
2.7
1, 126
104
996
1, 132
464
-LO
1.4
11
41.2
38.6
40. 1
36. 6
43.1
.5
2.4
4.7
2.8
1.9
41.8
39.6
41. 1
37.3
43.6
1.5
2.9
3.5
3.6
2.1
1.75
1.34
1.39
1.34
1.83
523
548
173
218
342
1.8
3.0
-2.3
11.8
3.3
537
558
170
230
342
3.5
4.5
-1.7
12.7
3.0
38.9
41.4
41.1
41.7
37.9
1.3
.7
.7
5.0
2.7
39.4
41.6
41.5
42.2
38.5
2.1
.7
2.0
2.7
4.6
2.35
1.99
2.36
2.09
1.41
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
.._.-.
.
Percent
4th
i change
quarter i from 4th
average
quarter
i
1954
7, 550
on-
Nondurable goods
Percent
change
from 1954
13, 064
84
697
322
476
1, 148
908
Ordnance and accessories
Lumber and wood products, except furniture.-
Percent
change
1954-55
3,464
3, 403
11,275
Annual
average
'A
Dollars
2,032
767
2, 557
Percent
change
from 4th
quarter
1954
cKe
1954
Average annual earnings
per full-time employee
2 Ofi8
776
2,580
1955 employment
Annual
average
(1,000)
February 1956
C Q
;
,
i
i
1
]
.
'.
<
;
i
5.4
3.8
4.3
4.9
4.9
4.3
3.0
1.74
4.2
4.8
3.1
2.2
1.80 ;
1.32
1.42 ;
1. 36
4^6
i. 87 ;
6.5
3.1
3.6
1. 5
3.5
4.2
4.0
6.1
2.2
2.37 ;
2.03
2.41 i
2.15
1.44
3.0
5.7
5.7
6.4
3.6
s. i
Source: Computed by the Office of Business Economics, U. S. Department of Commerce, from monthly data published by the Bureau of Labor Statistics, U. S. Department of Labor.
Financial Developments
noteworthy features stand out in the financial
developments of 1955. Total gross private saving reached
a record volume, despite a small reduction from 1954 in
personal saving. There was improvement in government
accounts as receipts increased while expenditures were
maintained at about the 1954 level. Business and consumers
made much greater use of borrowed funds in achieving the
enlarged volume of private investment and purchases of
consumer durables in 1955, and outstanding private debt
climbed to a new high.
The greatly enhanced demands for borrowed funds,
coupled with restraining actions taken by monetary authorities, resulted in upward pressure on interest rates. On the
other hand, the cost of equity financing tended downward
in 1955 as stock prices continued the rapid advance initiated
in late 1953; the gain in the overall stock-price average was
more pronounced than the rise in corporate earnings and
dividends, so that earnings-price ratios and dividend yields
reached new lows for the postwar period.
Despite the rapid rise in debt in 1955 the private economy
ended the year in a fairly satisfactory financial position,
founded primarily on a record flow of income and further
improvement in liquid asset holdings.
Gross private saving up moderately
Total gross private saving in 1955 approached $58 billion,
about $3 billion more than in 1954. (Table 1.) This gain
was, however, far less than the $12 billion rise in gross private
investment from 1954 to 1955. While gross corporate business saving expanded sharply in 1955 in response to higher
incomes, personal saving was somewhat lower as consumers
spent a higher proportion of their available income. The
rate of consumer spending tapered toward year-end, but for
1955 as a whole, personal saving equaled 6 percent of disposable personal income. Although this was the lowest
ratio since 1950, it was about the same as that prevailing in
1950 and somewhat higher than for the earlier postwar
period.
The gap between the relatively small rise in private saving
and the large gain in investment was offset in the government
accounts. Federal expenditures on income and product
accounts exceeded receipts by over $6 billion in 1954—a
deficit which drew on private sources for financing.1 Re1. Government receipts and expenditures on income and product accounts differ in a number
of respects from the regular or cash budget accounts. Like the cash, but unlike the regular
budget, they include trust account activities. Unlike both the regular and cash budgets
they exclude certain lending and capital transactions. Also, receipts in any given year include
corporate profits taxes accrued on income earned that year, rather than actual tax collections
which appear in regular budget and cash accounts.
371762°—56
3
ceipts expanded by $7 billion from 1954 to 1955 reflecting
higher consumer and business incomes. At the same time,
expenditures were lower by $2 billion. Thus, in 1955 the
Federal income and product accounts recorded a surplus
of ov r er $2)2 billion. State and local governments in 1955
operated at about the same deficit as in 1954, with a $2
billion rise in receipts offset by increased expenditures.
On cash and "conventional" bases (as distinct from that
shown in the national income accounts) the government
sector operated at a deficit in 1955 as in the preceding year.
Thus, in terms of cash flows, payments of Federal, State and
local government units amounted to $100 billion for calendar
year 1955, up by nearly $5 billion from 1954 and receipts
expanded by almost the same amount to a total of $98
billion, leaving the "cash" deficits approximately unchanged
at roughly $2 billion in 1954 and 1955. A deficit also appeared in the regular or administrative budget in 1955
although the excess of expenditures was somewhat reduced
from 1954.
Business requirements for funds expand
Gross additions to real and financial assets of nonfinancial
corporations amounted to $43 billion in 1955 of which $28
billion represented increases in the gross book value of real
assets—plant and equipment and inventories. The remainder, or $15 billion, represented additions to customer receivables, cash and other financial resources. The gross increase in total corporate assets last year was more than
double the rise in 1954. Plant and equipment outlays were
$2 billion higher than in 1954; the book value of inventories
expanded by $4 billion in 1955 compared with a net reduction
of $2.8 billion the previous year. Other current assets,
principally customer receivables and cash resources, grew by
more than $14 billion in 1955 in contrast to a negligible net
change in 1954.
Rise in external financing
As in the past, internal sources supplied a major share of
total financing requirements of corporate business. Retained earnings (inclusive of inventory profits) and depreciation allowances of nonfinancial corporations amounted to
roughly $24 billion in 1955, $5 billion higher than in 1954.
While dividend payments rose in response to the improved
earnings of business, the share of after-tax profits kept in
17
SURVEY OF CURRENT BUSINESS
IS
business was increased from 1954 to 1955. Depreciation allowances were also stepped up, reflecting not only the expanded fixed asset base but also the acceleration of set-asides
permitted by law. External sources of equity funds yielded
a somewhat larger inflow of money than in 1954 when net
sales of corporate stocks (new issues less retirements)
amounted to about $2.2 billion.
The volume of gross equity funds (retained earnings,
depreciation and net stock issues) available to corporate
business in 1955 fell considerably short of the increased
capital requirements of business. Thus, borrowing increased
Table 1.—Sources and Uses of Gross Saving
[Billions of dollars]
Gross private saving
1
| 54.2 j 55.0
57.8
19 8 i 18. %
Personal saving
Undistributed corporate profits _
7. 7 1 7. 0
Corporate inventory valuation adjustment _ i 1 — . 2
Capital consumption allowances
97 8 ! 30. 0
1
Excess of wage accruals over disbursements.
17 1
10. 4
Government surplus on income and product
-6. 0
transactions
_ _ _ . _ . . .
Federal
State and local
Gross investment
Gross private domestic investment
Net foreign investment
Statistical discrepancy
£.
?
-2. 0
32. 3
.0
'
: — 7.
i— B. 2
9 !
1
1. 2
2
\
2.7
1 ' -1. 5
49. 4
47. 0
58. 9
51. 4
o 0
47. 2
—. 3
59. 3
-. 4
1. 3
-. 8
.3
1. In principle gross private saving plus government surplus on income and product
transactions equals gross investment. Because of estimating errors, a difference may accur
and is indicated by the amount of the statistical discrepancy.
Source: U. S. Department of Commerce, Office of Business Economics.
at a rapid pace, exceeded only by the rise in the 1950-51
period. The increase in corporate debt was mainly in shortterm form, with bank loans, trade payables and Federal tax
liabilities up $10 billion. During the preceding year these
debts had been reduced by $6 billion. The net inflow of
funds from long-term debt issues amounted to $5}£ billion
in 1955, $1 billion more than in 1954. While corporate debt
rose sharply in 1955 and the cost of borrowing was also
higher, the consequent rise in interest payments was not as
great relatively as the rise in earnings of corporate business.
Generally speaking, corporations maintained a favorable
financial position throughout the year. Net working capital—the excess of current assets over current liabilities—
topped $100 billion for the first time and current assets remained about double current liabilities, the same ratio as in
other recent postwar years. Ownership of "cash" assets
also increased in 1955, about in line with the increase in
corporate activity.
Personal investment higher
The moderate decline in personal saving from $18.3 billion
in 1954 to $17 billion last year reflected the net effect of
major changes in the asset and liability position of individuals. Expenditures by individuals on new nonfarm
dwellings topped $15 billion in 1955, about $2K billion more
than in the preceding year. Outlays by noncorporate
February 19r>6
businesses (and nonprofit institutions) on plant, equipment,
and inventories approximated $16 billion, again about $2)2
billion more than in 1954. Offsetting these gross investment
outlays in 1955 were depreciation allowances of nearly $15
billion, $1 billion higher than in 1954. Thus, net investment
in real assets by individuals amounted to $16 billion last year
compared with $12 billion in 1954, and well in excess of am^
previous experience.
Groivth of liquid assets
In addition to these net purchases of real assets individuals
also increased their holdings of financial resources. Net
additions to cash, deposits, insurance and securities amounted
to almost $23 billion in 1955, roughly $4K billion more than
similar accumulations in immediately preceding years. The
major change in liquid savings from 1954 to 1955 was in the
securities component. Last year individuals added approximately $4 billion to their holdings of Government securities;
in 1954, ownership of these issues was reduced by about $1
billion.
Heavy debt financing
To make these record acquisitions of capital resources,
individuals and noncorporate firms borrowed heavily in 1955
and their debt to financial institutions and corporate business
increased at an accelerated rate. Over the 12-month period,
such indebtedness rose by $25 billion, compared with a rise of
$14J4 billion in 1954. All major components of noncorporate
debt—consumer, mortgage, and noncorporate business
(including farm)—shared in the 1955 expansion. However,
the most striking change in trend was in consumer shortarid intermediate-term installment credit, used principally
in the purchase of consumer durables.
There had been practically no net change in the amount
of this debt outstanding during 1954. In 1955 with the
mounting sales of new automobiles and other durable consumcr goods, new borrowing increased con tin u ally during
the year, and exceeded repayments by nearly $5)4 billion.
Rapid liberalization of terms of credit was a factor in the
rise of installment debt in 1955, not only through its effect
in slowing down repayments, but also in the stimulus
afforded to the wider use of credit. There were some signs
toward year-end that this trend to liberalization had been
lialted if not actually reversed.
Mortgage debt continues upward
The major element in the rise of total individual indebtedness was the nonfarm residential mortgage component. Net
mortgage debt owed by individuals to corporations and
financial intermediaries increased by $12 billion, equal to
almost half of the total rise in noncorporate debt. This was
about $3}-2 billion more than the net increase in 1954, and by
far the largest on record. The principal influence behind this
rise was the continued heavy purchases of new housing,
assisted by further liberalization of credit terms in the first
half of the year.
Beginning in the spring, steps were taken to halt and
reverse the easing credit policies of lenders. Initial cash payments were stepped up on federally underwritten mortgages,
the longer-term maturities being negotiated on such loans
were eliminated, and the Federal Home Loan Bank Board
SURVEY OF CURRENT BUSINESS
February 1956
restricted the availability of its credit which had been used to
an increasing degree in accommodating savings and loan
associations in their mortgage lending activity.
The general firming of interest rates also served to restrict
the availability of funds for federally underwritten mortgages. These fixed-interest loans became less attractive for
investment purposes as open market long-term interest rates
edged upward over the year. This was no doubt a factor in
Business and Consumer Debt
BILLIONS OF DOLLARS
( r a t i o scale)
100
MORTGAGE DEBT
( I - T 0 4 - F A M I L Y RESIDENCES)
50
19
rose more or less steadily throughout the year, the yield on
long-term U. S. Government securities stabilized in the final
months of the year at a rate slightly under 3 percent. In
general, at year-end long-term money costs were still below
the postwar peak of early 1953.
In an effort to moderate private demands for credit in
1955 the Federal Reserve early in the year moved to limit
availability of credit to member banks. The discount rate"
at which members of the system could borrow from the
Reserve Banks was raised four times in the course of the year
reaching 2% percent in November, one percentage point
above the end of 1954. Throughout 1955 open market policy
was also directed to restraining the volume of reserves available to banks, and on the average Federal Reserve bank
holdings of U. S. securities (the reduction of which tends to
lower reserves) were about $750 million below 1954. Thus,
if member banks desired to use Federal Reserve credit in
meeting private demand for funds, they had to borrow from
the central banks at the higher prevailing discount rates.
The average Federal Reserve loan balance of member banks
in 1955 was $460 million higher than in the previous year.
40
Common stock yields lower
30
COMMERCIAL 8t
INDUSTRIAL ^^ ..••'
BANK LOANS
20
CONSUMER
CREDIT
10
© Preliminary estimate
t
1945
46
i
l
J
l
47
48
49
50
51
52
53
DEBT OUTSTANDING AT END OF Y E A R
L
54
55
DATA: FRB 8 HLBB
U. S. Department of Commerce, Office of Business Economics
56
-8-9
the decline in applications for FHA and VA loans in the
latter part of 1955.
A fuller review of trends in individual indebtedness
appeared in the January SURVEY OF CURRENT BUSINESS.
Costs of financing divergent
I The cost of borrowed funds rose appreciably during 1955,
with short-term rates showing the largest absolute and relative increases. Yields on 3-month Treasury bills reached
2.6 percent in December, \% percentage points higher than
at the end of 1954 and 2 points above the low of that year.
Yields in long-term U. S. issues rose by 0.3 of a percentage
point in 1955. Unlike interest rates on other securities, which
Common stock prices continued their "bullish" drive
throughout the greater part of 1955, although at a much
reduced rate in the closing months of the year. At year-end,
the Securities and Exchange Commission stock price index
was about one-fourth above the previous year's closing
prices. For the full year, prices averaged about one-third
above 1954. Gains in industrial stock prices substantially
exceeded these overall averages.
The favorable earnings record of corporate business was no
doubt a major factor in buoyancy of stocks. Overall
after-tax corporate earnings in 1955 averaged roughly onefourth higher than in 1954. Dividends were also higher in
1955, totaling for all corporations about 10 percent above
1954. Thus, it appears that the earnings-price ratio and
dividend yields on common stocks in 1955 were at the low
point for the postwar period.
The Federal Reserve Board also took action to minimize
speculative activity in the stock markets in 1955. Last
January the minimum amount of cash required to buy stocks
was raised from 50 percent to 60 percent of the purchase
price, and in April these cash margins were further raised to
70 percent. In large part a reflection of these moves, the
rise in stock market credit was considerably dampened in
the last half of the year.
Gross stock issues increased
With borrowing costs higher and the cost of equity funds
lower in 1955, the incentive to shift from debt to equity
financing was the strongest in many years. While the net
inflow of funds from sales of stocks in 1955 was only slightly
larger than in 1954, gross stock sales in 1955 were considerably higher. Gross new issues of common and preferred
stocks were about $1 billion larger than in 1954 when sales
amounted to $3.8 billion, and were almost double the average of the previous postwar years.
Production and Trade
Movements in Production and Trade
INDEX, 1947 -49
= 100 ( ratio scale)
INDUSTRIAL PRODUCTION
(PHYSICAL VOLUME)
140
\
120
FARM OUTPUT
(PHYSICAL VOLUME)
\
IOO
BILLIONS OF 1947-49 DOLLARS
(ratio scale)
180
SALES OF RETAIL STORES
160
140
'20U,
BILLIONS OF 1947-49 DOLLARS (ratio scale)
35
TOTAL NEW
CONSTRUCTION
30
\
J_
I
25
1951
1952
1953
1954
1955
DATA: FRB, AGR., QBE, BDSA 8 BLS
U. S. Department of Commerce, Office of Business Economics
20
5 6 - 8 - 14
JLHE BROAD base of the expansion in business activity
during 1955 is clearly brought out by detailed examination
of changes in industrial and agricultural production, in new
construction activity, and in retail trade. Each of these
sectors advanced significantly during the year, although at
differential rates, to reach new record volumes for the year
as a whole. From 1954 to 1955 industrial production increased 11 percent while agricultural output advanced 3
percent. The volume of new construction, measured in
1947-49 dollars, was 9 percent higher. The volume of goods
purchased at retail stores, which had been practically unchanged from 1953 to 1954 when the economy experienced
a moderate recession, increased 9 percent in real terms from
1954 to 1955. This advance was greater than the increase
in real disposable personal income for the same period.
As the year progressed, gains in the nonfarm sector became
smaller. In the closing months of the year, retail trade leveled off while gains in industrial production were much reduced and new construction declined moderately. The volume of agricultural marketings rose more than seasonally in
the final quarter of the year.
The exceptionally large and rising demands during 1955
were reflected in a strong flow of new orders to manufacturers.
For the year as a whole, manufacturers received new orders
valued at $326 billion. In the same period they shipped
goods valued at $317 billion. New orders for factory goods
increased throughout the year and in almost every month
exceeded shipments. Thus, unfilled orders on the books of
manufacturers rose steadily to $55 }£ billion at the year-end,
$9 billion above the end of 1954.
The expansion in new orders placed with durable-goods
producers was substantially greater during 1955 than for
nondurable-goods manufacturers, with the largest relative
increases recorded in the primary metals and transportation
equipment industries. As the year drew to a close, ordering
of machinery and aircraft was showing pronounced strength!
Backlogs held by durable-goods producers at the end of 1955
were nearly 4 months of sales at the high December rate.
The ratio of unfilled orders to sales was higher than a year
before for each of the major durable-goods industries except
transportation equipment. The year-end 1955 ratio for
this industry, at 6 months of sales, was moderately below a
year earlier.
The record total of new orders for nondurables in 1955
showed an increase of 8 percent from 1954. For those
industries which carry unfilled orders on their books, backlogs rose as the inflow of 1955 orders exceeded shipments by
more than %% billion. Paper and textile companies reported
the largest relative increases in unfilled orders.
SURVEY OF CURRENT BUSINESS
February 1956
The general business advance from 1954 to 1955 was
accompanied by some increase in the total business population. The number of operating concerns in the United
States reached a new high of 4,225,000 in mid-1955, a morethan-seasonal gain of 45,000 firms during the first 6 months
of the year. The net increase in the business population
during the first half of 1955 was four times that which
occurred during the similar period of 1954, when business
21
activity was declining, nearly twice that of 1953, and about
the same as in each of the business expansion years 1950 to
1952. In general, the rise in the business population during
the first half of 1955 reflected increases in each of the major
industry groups. It should be emphasized that these
changes in the business population are relatively small and
that from a broad point of view the business population can
be regarded as nearly stable in the past several years.
Manufacturing and Mining Production
INDUSTRIAL production advanced steadily through most of
1955 under the stimulus of rising consumer and business
demand. The physical volume of production for the year
as a whole was 11 percent higher than in 1954 and 4 percent
above the previous peak reached in 1953. At the year-end
output was at a record rate though there was evidence of
some tapering off from peak rates in a few scattered industries.
Materials generally were in plentiful supply and the temporary tightness that developed earlier in the year in some
metals and building materials had in most cases eased
considerably by the year-end.
Table 1.—Industrial Production
[1947-49=100; seasonally adjusted]
Manufactures
Total
Minerals
Durables
Nondurables
124
124
123
128
138
135
135
141
114
116
114
118
113
111
110
113
125
137
116
111
133
138
139
140
142
143
144
144
147
153
155
158
160
161
161
160
122
127
126
125
128
129
130
130
121
121
120
121
123
123
125
127
139
155
126
122
4th quarter 1954 to 4th quarter
1955
12. 5
17. 5
9.3
10.6
1954 to 1955
1953 to 1955
11.2
3.7
13. 1
1.3
8.6
6. 8
9.9
5.2
1st quarter
2nd quarter
3rd quarter
4th quarter..
1954
_
_. _
Year
1st quarter
^nd quarter
JuJv
August _
September
October
November
December
1955
_ _ __
_
_
_
_ _
Year
Percent change
_ . _ . _ _ _ . _ ._
Source: Board of Governors of the Federal Reserve System.
The increase in industrial output last year was entirely
for the civilian economy. Defense production, which still
accounts for a sizable proportion of total output, was generally stable during the year, following a decline extending
back to mid-1953.
The upswing in manufacturing output in 1955 followed
the strong impetus provided by the automobile industry
beginning in the fourth quarter of 1954. The rapid expansion of motor vehicle assemblies in this period not only
engendered increased activity in industries supplying component parts and materials—steel, rubber tires, glass, radios,
and parts and accessories—but also led to a sustained
general advance in manufacturing operations.
Automobiles and the primary metals industries, with approxhnately one-eighth of the weight in the Federal Reserve
index, accounted for roughly one-third of the 10 percent rise
in total industrial output and for two-thirds of the rise in
the durable goods group from the third quarter of 1954
through April 1955, when the peak rate of automobile production was reached.
The enlarged manufacturing output was made possible by
a record flow of materials and supplies. During the course
of the year, industries producing basic raw materials geared
operations upward in line with the rising demands.
Thus production of primary metals expanded sharply in
1955 to meet the large requirements from motor vehicle and
other metal fabricating plants. Steel making facilities
turned out a record 117 million tons of steel ingots and castings, over 5 million tons more than in 1953, the previous top.
An equally impressive tonnage of finished steel products
was produced. The total of 84.7 million tons of finished
steel exceeded the high 1953 volume by 4.5 million tons.
After allowing for increased net exports, however, the increased quantity available for the domestic economy was
only 2.2 million tons. The expansion in civilian consumption though was substantially larger as takings of finished
steel for defense production were smaller than in 1953.
For the ninth consecutive year, the industry added to its
steel-making capacity. The net expansion of capacity of
2.5 million tons of steel ingots and castings brought total
rated capacity to 128.4 million tons as of January 1, 1956.
This total represents a net gain of over 37 million tons, or
two-fifths, in the 9-year period since 1946. A 3-year
facilities expansion program calling for additional productive
capacity of 15 million tons is contemplated by the industry
through modernization of existing facilities and construction
of new plants.
SUEVEY OF CUEKENT BUSINESS
22
February 1956
only moderately above the quantities available in 1954. In
general, total consumption exceeded the enlarged supplies
despite substantially reduced set-asides in 1955 as compared
with 1954 for the national stockpile. Consumption of aluminum in civilian type products has been increasing rapidly
in recent years as newly developed uses and increased use
in established product lines have greatly expanded the
market for the light metal. Trade reports indicate that the
construction industry is now the largest single consumer
of aluminum, displacing the transportation equipment industry, even though use of aluminum in aircraft output is being
increasingly supplemented by expanded consumption in
motor vehicle production. Further large-scale expansion
programs for ingot aluminum have recently been announced
by the industry.
The coal industry staged a significant comeback in 1955
as high domestic and foreign requirements pushed output to
around 470 million tons, the highest since 1951.
Expansion in nonferrous metals
Higher prices and strong demand, both domestic and
foreign, greatly stimulated output of most of the major
nonferrous metals. Production of copper rose as much as 20
percent, despite work stoppages in some mines, and output
of zinc also increased substantially. Lead production
showed little change. Most of the increase in overall new
supplies of nonferrous metals was obtained from domestic
sources, partly from higher rates of operations and partly
from new facilities. Imports, particularly of aluminum and
refined copper, were in considerably reduced volume. Unfilled order backlogs for most nonferrous metals were substantially higher at the end of the year than at the beginning.
With the benefit of new facilities, aluminum production
in 1955 came close to 1.6 million tons, a record. Because
of considerably reduced imports overall new supplies were
Output of Selected Manufactured Products
I N D E X E S ,
MACHINERY
180 — (EXCL. HOUSEHOLD
APPLIANCES)
NONAUTOMOTIVE
320 - TRANSPORTATION
EQUIPMENT
1 9 4 7 - 4 9
=
CLAY, GLASS, AND
PRIMARY METALS
180
180 - L U M B E R PRODUCTS
160
300
100
CHEMICALS AND
-
180 - A L L I E D PRODUCTS
I 60
160
-
1955
280
260
I 40
140
140
140
120
120
120
120
IOO
IOO
1954
240
I
I
I
PASSENGER CARS
I
I
M A J O R HOUSEHOLD
200
180
I
IOO
1955
1954
IOO
I
I
I
QUARTERLY
loo
180 h
I 60
160
160
140
140
120
120
IOO
IOO
160
120
1
REFINED PETROLEUM
I 80 - PRODUCTS
180 r- A L L I E D PRODUCTS
.o
120
AND
180 -GOODS
160
J 40
APPAREL
I
DATA,
-
S E A S O N A L L Y
I
I
I
PAPER AND A L L I E D
100 VV-
ADJUSTED
BASIC DATA : FRB
U. S. Department of Commerce, Office of Business Economics
56 -8 -10
February 1956
SURVEY OF CURRENT BUSINESS
Widespread advance
All of the 24 major manufacturing and mining groups
comprising the Federal Reserve production index shared in
the general advance though in varying degree. The year-toyear increases from 1954 to 1955 varied from 30 percent for
primary metals to 1 percent for tobacco products, with most
industries showing advances of 10 percent or more. Transportation equipment, which includes the production of motor
vehicles, increased 16 percent but motor vehicles as a group
showed a substantial rise of two-fifths. Exceptionally large
year-to-year production gains, averaging well over one-fifth,
were also registered for materials and components manufactured for the automobile industry.
Output for most major industry groups in 1955 was above
that of any previous year. The exceptions were fabricated
metals, machinery, instruments, textile mill, and tobacco
products and even in these cases the rate of activity in
December was above or only slightly below previous highs
of 1953.
The generally rising trend in output for selected groups of
manufactured products or industries is apparent in the
accompanying chart. The indexes of nonautomotive transportation equipment and machinery shown in the chart are
the Federal Reserve seasonally adjusted production indexes
with rough adjustments made to exclude the output of
passenger cars, trucks and parts, household appliances and
radios and television sets.
In the transportation equipment and machinery industries,
where the bulk of defense production is concentrated, all of
the rise occurred in products destined for the civilian market.
The production of nonautomotive transportation equipment—aircraft, shipbuilding, and railroad equipment—
though showing little over-all change for 1955 as a whole
reversed the downward trend evident in 1954 and the rate
at the year-end was 7 percent above the low point reached
in the fourth quarter of 1954. The bulge in the output of
this group in the final quarter of the year reflected for the
most part increased activity in aircraft plants. Backlogs
for both military and civilian type planes continue large.
In the last half of 1955 new orders placed by domestic and
foreign airlines for the newest type civilian transport planes
alone exceeded $1 billion. It should be noted that the
industry also utilizes substantial resources in research and
developmental work on long-range missile mechanisms.
New orders for railroad equipment have been placed in
large volume since May 1955. In November alone, over
51,000 freight cars for domestic use were ordered and this
was followed by the placement of 42,000 more in December.
Total backlogs for new freight cars which as recently as
May totaled only 20,000 units jumped to 148,000 by December, the highest since 1951. Deliveries of rolling stock to
railroads also improved in the last half of 1955 though the
rate at the year-end was still well under the high 1951-53
volume.
Producers of machinery enjoyed an active year even though
the industry lagged behind in the early stages of the general
recovery movement. The sharp rise in output which began in
the early spring months of 1955 corresponded in general to the
pattern of new order placement for machine tools and general
industrial machinery, which in turn reflected to a large
degree the upturn in the planned capital investment programs of business. Output advanced nearly 10 percent for
the year and reached a level at the year-end only moderately
below the high rate of 1953 when machinery plants were
concentrating on sizable defense orders. The rise in the
output of this group was an important element of strength
in sustaining the high rate of total industrial production
during the latter part of 1955.
23
Output of clay, glass, and lumber products, a large proportion of which is consumed by the construction industry,
expanded by 12 percent from 1954 to 1955. Large production gains were also reported for chemicals, paper, and
refined petroleum products, industries which have shown
strong growth trends in recent years.
The past year was an active one for the apparel industry.
The 9 percent increase in output from 1954 to 1955 reflected
a rise in consumer demand for wearing apparel. The 1955
advance lifted the rate of clothing output at the year-end
to slightly above the previous peak reached in August
1950. However, the production rise in this industry since
the 1947-49 base period has been much smaller than the
gains experienced by most other major manufacturing
industries. Output of textile mill products also increased
in 1955.
The automobile industry highlighted the 1955 production
performance by turning out close to 9.2 million units—7.9
million passenger cars and nearly 1.3 million trucks. The
passenger car count was more than 2.3 million higher than in
1954 and 1.2 million above the previous peak of 1950. In
the 3 years since 1952 when NPA materials controls were
lifted, the industry has turned out nearly 20 million passenger cars, or close to two-fifths of the total number on the
road in 1955. Truck assemblies were the highest since 1951
and more than 200,000 above 1954.
Aside from the model changeover period in September and
October, assemblies of passenger cars were maintained at a
high rate throughout the year. In the closing weeks of 1955,
however, output was cut back moderately to bring production more in line with the current rate of consumer purchases,
and this curtailment extended into early 1956. Concurrent
with the reduction in output, Saturday overtime work which
had prevailed in most assembly plants during 1955 was eliminated and scattered layoffs occurred.
Household goods production high
Strong consumer buying supported a high volume of output of major household goods in 1955. Following a long
steady rise output dropped moderately in the fourth quarter
of 1955, however, owing mainly to larger than seasonal declines in the output of appliances and television receivers.
Production of furniture and floor coverings was maintained
close to the high third quarter rate. For the year, output of
major household goods averaged 18 percent higher than in
1954 and equaled the high volume of 1950.
The year-to-year increases in output were substantial for
most individual products. As in other recent years new production peaks were limited to the relatively newer lines—
television sets, room air-conditioning units, dryers, dish washers, and food waste disposals. Among the well-established products, washing machines virtually matched the
record volume of 1950 when 4.3 million units were turned out.
About 7.8 million television receivers were produced in
1955. This was 400,000 more than in 1954 and 300,000
above the previous peak in 1950. Output expanded during
the first 9 months of 1955 and then was cut back sharply in
response to the lower volume of consumer purchases. In
the October-December period the number of television sets
turned out was one-fourth below the high volume of the
fourth quarter of 1954. Output of color television receivers
in 1955 was still small, about the same as in 1954 when an
estimated 15,000 to 25,000 sets were turned out. Radio
production hit close to 15 million, the highest since 1948 and
4.5 million above the previous year. Of this increase, 3
million represented auto radios.
New Construction Activity
CONSTRUCTION expenditures reached new highs again last
year as record outlays were made for business, residential,
'Government and institutional construction. Total expenditures in 1955 for new construction, both private and public,
amounted to $42% billion, 12 percent more than in 1954.
About three-fourths of the increase over 1954 represented
larger physical volume; construction costs in 1955, after two
years of relative stability, averaged 2}<J percent higher than
in 1954. Even though significant additions to capacity were
made by building materials producers in the recent period, the
rise in construction demand more than kept pace with the
higher output. Reflecting the supply-demand relationship,
building materials prices advanced almost without interruption throughout the year. Wholesale prices of building materials in December were about 5 percent higher than a year
earlier. Over the same period average hourly earnings of
construction workers rose about 2 percent—a smaller-thanaverage advance for recent years.
Private residential construction
Residential construction activity last year took place in a
setting of rising consumer income bolstered by continued
large holdings of liquid assets. Demand for additional housing appeared generally strong. The latest statistics showed
vacancy rates in mid-1955 to be not much higher than in
1950, although in some cities there appeared to be on oversupply of apartment house units at prevailing rentals.
Important developments in private residential construction
last year were: a record outlay in both current dollar and
real terms and a number of housing starts almost as high as
in 1950; a tightening in mortgage markets, partly the result
of competing demands for capital funds from other sectors
of the economy but also the outcome of restrictions imposed
by monetary authorities; and the declining trend in housing
starts in the second half of the year, with a resultant reversal
after July of the rise in residential activity.
Expenditures for new private nonfarm residential construction last year totaled $16.6 billion, a gain of more than
$3 billion over 1954 and $4 billion over 1950. The increase
over last year reflected not only a larger number of housing
units under construction but also a higher value per unit.
According to data of the Department of Labor, average cost
per housing unit started in 1955 rose 7 percent over 1954.
The greater part of this rise represented a continuation of
the trend stalled about 5 years ago, to meet the growing
demand for larger houses. Thus, although 1955 expenditures reflect a slightly smaller number of housing units than
in 1950, average costs per unit last year were about 15 percent higher, after an allowance for the increase in material
and labor charges. Real outlays were thus about onesixth above the 1950 peak.
The increase in residential activity through the third
quarter of 1955 was an extension—though at a slower rate—
of the rising tendency that began in the final quarter of 1953.
With residential starts leveling out in the first half of 19557
the rate of increase in expenditures slowed down considerably
as compared with 1954, as may be seen in the chart. On
a quarterly basis outlays for new residential construction
were at a peak in the third quarter after seasonal adjustment.
At that time they were 6 percent above the first quarter, in
contrast with a 21 percent advance in the corresponding
1954 period. In the fourth quarter activity fell off about 6
percent, with the month-to-month movement steadily
Digitized for downward.
FRASER
http://fraser.stlouisfed.org/
24
Federal Reserve Bank of St. Louis
Builders started 1.3 million private housing units last
year, 9 percent more than in 1954 and only 3 percent less
than were started in 1950. More than half of these units
were started with Government assistance in mortgage
financing; the number of 1- to 4-family housing units underwritten by the Government in 1955 was the highest on record.
The number of starts that were VA-guaranteed rose almost
one-third, and made up a record 30 percent of the total,
while the number of FHA-assisted homes was about the same
as in ]954—somewhat over one-fifth of the grand total.
As the chart indicates, seasonally adjusted starts were
moving downward during the second half of last year, following a period of near stability in the first half. The seasonally
adjusted annual rate of starts in the first 6 months of 1955
was 1.4 million and by the final quarter had fallen to 1.2
million.
The large number of houses put under way in the first
part of the year resulted from plans that builders had initiated in late 1954 and early 1955, when conditions for the
financing of home construction were quite favorable. VA
mortgages were available on a, no-downpayment, 30-year
basis; FHA mortgage maturities were also lengthened and
downpayment requirements reduced; and construction funds
were comparatively plentiful.
In the first half of 1955 requests for VA appraisals of new
units—a, good indicator of builders' intentions in that market—were at an annual rate of more than 700,000, as compared with a 1953 total of 250,000 and the previous record
in 1954 of 535,000. Dwelling units in FHA applications
for commitments on 1- to 4-family houses—another indicator
of builders' plans—were also running at a high rate in the first
half of the year.
With the quickening pace of general business activity
however, the demand for funds from other sectors of the
economy increased markedly, and in the second half of the
year a growing stringency in new construction money developed. In the meantime the rapid increase in home mortgage
indebtedness in the first half, coupled with the further large
increases in prospect from the heavy inflow of new plans, had
led to a tightening of terms by FHA and VA in late July:
both agencies reduced maximum mortgage terms from 30
to 25 years and increased down payment requirements.
In addition, the Federal Home Loan Bank Board early in
September imposed new restrictions against borrowing by
member savings and loan associations.
For new applications the VA eliminated completely the
widely used no-downpayment loans, which had been
increasing steadily in importance since the end of 1953,
Thus over half of the VA loans closed on new homes in 1955
were of this type, as compared with three-eighths of the
VA total in 1954 and a much smaller proportion in 1953.
There was a comparable upward movement in loans with
maturities over 25 years; last year as many as two out of
three new home loans closed had maturities from 26 to 30
years. It is of interest to note that because there was a
sizable backlog to which these new restrictive provisions did
not apply, as late as December 46 percent of VA loans
closed on new homes involved no downpayment while 82
percent had terms from 26 to 30 years.
As the year went on, particularly in the second half?
builders reduced their plans for new building. FHA applications by the final quarter were running at 40 percent below
the corresponding period of 1954 while requests for VA
appraisals were one-third lower. In December the changed
situation in housing prospects led the Home Loan Bank
SURVEY OF CURRENT BUSINESS
February 1956
Board to ease somewhat its earlier restrictions on borrowing,
while this January the VA and FHA permitted once again
mortgages with 30-year maturities.
Private nonresidential construction
Private construction other than residential rose for the
sixth successive year, with a 10 percent overall advance and
increases in all major sectors except farm construction. The
largest gain occurred in commercial building, where the development of new shopping areas in the suburbs and store
modernization programs brought about a rise of more than
50 percent over 1954 in store construction. Outlays for 1955
were close to $2 billion; after allowance for price changes,
expenditures for stores last year were apparently not far
New Construction Activity
Construction set another record in 1955, but
decreased in the fourth quarter
1LUONS OF D O L L A R S
25
different from the all-time high in commercial construction
reached in 1926-27. Office building and warehouse expenditures also exceeded $1 billion for the first time last year
although in this category real outlays are still about onefifth below the record rates of 1929-30.
The sharp recovery in industrial production, with the
resultant improvement in earnings, was a major factor in
the one-fifth advance in industrial construction over the
previous year. Such expenditures, even after allowance for
price increases, were higher than they were in 1952, when
the mobilization expansion program was at its peak. Public
utility expenditures for construction were also at a record
rate *in 1955, chiefly because of higher expenditures by
telephone and gas companies. Electric utilities spent about
the same as in the previous year while railroad construction
outlays, because of the very low rates prevailing early in
the year, were slightly less than in 1954.
Institutional and "other nonfarm private construction
registered another sizable gain. Church construction rose
substantially, expenditures for social and recreational, and
hospital and institutional facilities were up slightly, and
construction of private educational facilities was down a
little.
As the year drew to a close divergent trends became apparent in the various major sectors. The steady upward
movement in outlays for industrial building showed no
evidence of abatement but some leveling appeared in office
building and warehouse construction while store construction had been reduced.
Public construction
PRIVATE
1953
NONFARM
RESIDENTIAL
1955
1954
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
reflecting declines in private housing starts
MILLION UNITS
2.0
NEW PERMANENT NONFARM DWELLING UNITS STARTED
(PRIVATELY OWNED)
1.5
t.O
I
I I I f c . l . t 1.J...I {
1953
M 1 M, lM.tmL.LLh
1954
t a
1955
MONTHLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
DATA: BOSA a BLS
U. S. Department of Commerce, Office of Business Economics
371762°-56
56 - 8 - 1 1
Public construction totaled $12 billion in 1955, a new
record 2 percent above 1954 spending. Developments
during the year represented the continuation of recent
trends. Direct Federal construction declined for the third
successive year, approximately 20 percent from 1954, while
Federal grants-in-aid and state and local government expenditures continued the uninterrupted rise under way since
about the end of World War II. Federal outlays, including
Federal aid, constituted 29 percent of all public expenditures last year; this may be compared with a ratio of 44 percent in 1952, when outlays for defense facilities were at
their peak, but is about the same proportion as in 1948-50.
In the state and local government sector expenditures for
highways, schools and water and sewer facilities made the
largest contributions to the 1954-55 increase. Construction
of these types, being related to long-term influences such as
the increasing population and its shift to outlying areas, and
to the development of superhighways, has shown a steady
upward trend since 1945.
Highway expenditures exceeded $4 billion last year, up
10 percent from 1954. A pronounced increase took place in
outlays for educational facilities, which totaled almost $2.5
billioii, or 16 percent more than the 1954 expenditure. Outlays for water supply and sewage disposal facilities rose 11
percent, exceeding $1 billion for the first time.
The 2 categories of State and local construction that
showed decreases were hospital facilities and residential
building; the latter fell by almost one-fourth from 1954. Only
18,000 publicly financed housing units were started last year,
the lowest number since 1948.
In the Federal sector, outlays for industrial facilities
declined again but construction of military facilities increased substantially. These two categories accounted for
more than 70 percent of direct Federal spending for construction last year. Outlays for conservation and development fell 15 percent from 1954.
Agricultural Production and Income
FARM output expanded in 1955, Despite acreage restrictions
on major crops, record yields per acre and a considerable
increase in livestock marketings resulted in burdensome agricultural supplies. As a result, farm prices, following some
recovery in the early months of 1955, declined during the
remainder of the year. For the year as a whole, prices
received by farmers averaged 5 percent lower than in 1954.
Thus, although marketings were higher during the year,
cash receipts (including CCC loans) at $29.2 billion were
about 3 percent lower than in 1954.
Prices paid by farmers for items used in production averaged about the same in 1955 as a year earlier. Though
products of nonfarm origin were appreciably higher, offsetting price declines occurred in feed and in livestock
purchased. With production costs firm, net income of farm
operators was down about one-tenth and lower than in any
year since 1942.
If adjustment is made for the shift in population from the
farm and for increasing income from nonfarm sources,
income per capita of the farm population from all sources in
1955 was about equal to the average for the years since the
end of World War II.
Crop receipts lower
Moderate declines in cash receipts from both crops and
livestock occurred in 1955. In other recent }rears crop receipts
had held up rather well (though surpluses were being built
up). In 1955, cash receipts from crop marketings (including
CCC loans) at $13.1 billion were only about 8 percent below
the 1952 peak, with about one-third of the decline occurring
in the past year. The most recent reduction was principally
in receipts from wheat as marketing quotas imposed lower
acreage, yields were up only moderately, and prices were
slightly lower.
Cash receipts from marketings of livestock and products
at $16.1 billion were 4 percent below 1954 and down nearly a
fifth from the peak reached in 1951. Hog receipts accounted
for most of the drop in 1955 and cattle receipts had fallen
in earlier years.
Domestic demand for farm proclucts was strong in 1955
with increases in population and in income both contributory
influences. Consumers spent appreciably more for food in
1955 than in the preceding year but the rise appeared to be
largely in distribution including processing rather than in
value of product at the farm level. Exports of farm products
other than cotton were up substantially in 1955 as the disposal of surpluses abroad increased. Some surpluses were
reduced, and increases in those of other products, for which
production continued high, were restrained by the stepped-up
disposal program. The increased disposal activity was a
step toward restoration of balanced demand-supply conditions which was aimed more at achieving longer-term favorable effects than at providing immediate support to farm
income.
Total crop production in 1955 was 4 percent above that in
1954—and close to the high attained in 1948—as record
yields more than offset a reduction in acreage harvested.
Most of the decrease from the preceding year in acreage
harvested represented more extensive crop failure or abandonment with little change from the preceding year in total
acreage planted or grown.
26
Wheat production was a little lower in 1955 than the year
before and about one-fifth below the 10-year average as a
result of a combination of reductions in acreage allotments
and adverse weather leading to unusually large abandonment.
United States supplies for this crop year are at a record high
as the carryover on July 1, 1955, exceeded 1 billion bushels.
Production at 940 million bushels was not far, however, from
estimates for consumption and export in the current cropyear. Exports of wheat have been stepped up in the past
year following a considerable decline in the preceding few
years. The new winter wheat crop seeded in the fall of 1955
was slightly larger than the acreage seeded the year before,
and prospects at the beginning of 1956 were for somewhat
higher yields.
The statistical position of cotton has deteriorated in the
past year as a record yield on a reduced acreage resulted in a
14.7-million-bale crop; 1 million larger than in 1954. Heavy
pledging of cotton from the 1955 crop for CCC loans brought
total CCC stocks and holdings pledged against loans to 13.5
million bales at the end of 1955. Increasing production
abroad and declining U. S. exports have necessitated some
changes in U. S. export policy. Up to a million bales of
short-staple cotton held by Commodity Credit Corporation
are being made available for export at reduced prices in 1956.
Feed grain production in 1955 was near the 1948 record and
supplies available are at a new high both in total and in relation to the livestock population. Domestic feed consumption
is expected to be up from the relatively low rate of feeding
in the crop-year ending October 1, 1955, and exports have
been running substantially higher.
Table 2.— Farm Production
[I947-4U=100]
1 950
1951
1952
1958
1954
100
103
107
108
109
112
All livestock and products^ 106
111
112
114
119
122
115
101
123
114
106
127
1 19
101
111
114
100
119
108
134
124
109
134
All crops
97
99
103
103
101
105
Feed grains
Hav and forage
Food grains
Vegetables _
Fruits and nuts
104
105
83
101
102
97
110
81
95
105
102
105
105
96
102
101
108
96
100
104
105
108
85
97
106
111
114
80
100
107
117
70
101
116
98
106
115
106
95
106
112
104
106
115
102
102
118
96
111
117
110
103
112
129
Farm output
1955 P
Livestock and products
Meat animals
Dairy products
Poultry and eggs
107
Crops
Sugar crops
Cotton
Tobacco
Oil crops
_ _
p
Preliminary.
Source: U. S. Department of Agriculture, Agricultural Research Service.
SURVEY OF CURRENT BUSINESS
February 1956
More meat
Most of the rise in output of livestock and products—and
all of the drop in cash receipts—occurred in hog production,
Total pork production reached 11 billion pounds in 1956, 11
percent higher than in 1954. Hog prices were lower than a
year earlier throughout 1955, with a severe decline in prices
occurring in the fourth quarter as the seasonal peak in marketings was reached. Despite government purchases of
pork and lard, the average price of hogs dropped from $14.50
in October to $12.20 in November and to $10.60 in midDecember. For the final quarter, hog prices averaged about
30 percent less than a year earlier. As the peak of slaughter
passed prices recovered moderately at the beginning of 1956.
In the fall survey of farmers' intentions, slightly smaller
farrowings were indicated for the spring of 1956 than in the
spring of 1955.
Table 3.—Comparison of CCC Price Support Extended on 1955
Crops as of December 31 With Corresponding Figures for Crops
of Earlier Years *
[Data as of December 31 for crop of year designated]
Millions of units
Millions of dollars
Unit
Cotton, Upland
Wheat
Tobacco
_.. .
Milk and butterfat:
Butter
Cheese
Dried milk
Corn
Grain Sorghum
Rice Barley
Soybeans
Peanuts
Oats
Flaxseed
_ .
Beans, dry edible
- -
1953
1954
1955
1953
1954
bales
bu
Ib
5.5
430. 1
162.4
1.8
349.4
233. 7
5.5
222.9
323. 4
932.6
931.5
65.3
300. 4
778.4
127.9
907. 5
458.0
219.7
Ib
Ib
Ib
222.0
213. 3
395.4
175. 2
124.0
371. 3
124. 1
116.3
373.9
144.0
81.9
61.8
99.3
42.1
56.8
70.6
40. 3
63.1
bu
cwt
cwt
bu
bu
86. 5
14.2
1.2
32.5
27.7
19.1
42.5
15.4
85.0
23.4
88.8
43.5
12.5
66.7
22.8
136.8
33.4
6.0
38.0
70.5
30.4
99.6
74.3
94.8
50.7
136. 8
75.9
66. 3
57.8
45.7
Ib
bu
bu
cwt
449. 5
43.4
15.2
2.7
13.2
60. 2
5.7
2.5
298.6
51.9
6.8
2.3
47.6
34.5
55. 2
21.9
1.4
45.6
17.3
18.2
33. 7
31. 4
19.2
15. 2
82.0
51. 0
13.3
2,733.0 1,888.2
2,254.5
All other
Total
1955
1. Represents loans made, purchases, and purchase agreements.
27
when feed prices decline. Prices of poultry products were
subject to considerable variation during the year, however,
and at year-end egg prices were rising and were more than
a third above a year earlier, whereas broiler prices were
declining and were even with about a year ago.
Rise in product per man-hour
Farm gross national product in constant dollars advanced
3 percent from 1954 to 1955. At $25.2 billion in constant
1947-49 dollars it was 16 percent above the 1947-49 average
and 20 percent above 1941. Farm gross national product
is a value-added concept obtained by subtracting from the
total value of farm output the value of (intermediate) materials used up in the production process, such as fertilizer,
purchased feed, and motor fuel. It measures production
occurring on farms, without duplication, and is "gross" only
in the sense that depreciation and other capital consumption
allowances are not deducted. It is computed both in
current dollars and in "real" or 1constant (1947-49) dollars;
only the latter is discussed here.
The rise in total farm output has paralleled that in farm
GNP since the end of the war but has been greater from the
prewar period to date, rising 28 percent since 1941. Throughout this period machinery has been substituted for labor, so
that the value of farm product per man-hour has risen at an
average rate of 4 percent per year.2 During the same
period total output of agriculture per man-hour increased
at an average rate of 4.7 percent per year.
The more rapid rise from 1941 to date in total output than
in farm gross national product results from an increasing
proportion of intermediate to final product. The rising
proportion occurred before and during the war years, however, and has not continued in the postwar period. The rise
in the past has been more pronounced during periods when
prices received by farmers were relatively high in relation
to prices of intermediate products since in such periods intermediate products are more freely used.
In recent years, prices received have declined more than
the prices of intermediate products, and in constant dollar
terms the ratio of intermediate products to total output has
declined. More specifically, the use of the relatively higherpriced intermediate products has increased less than total
Source: U. S. Department of Agriculture, Commodity Stabilization Service.
Beef and veal production in 1955 was 4 percent above the
previous high in 1954. The strength of demand was such
that during the first three quarters of the year prices were
about the same as in 1954, but large marketings of cattle
(as well as hogs) lowered prices in the final quarter. A considerable rise in cow and heifer slaughter in 1955 suggests
that the several-year rise in the size of the calf crop may
have reached its peak.
Milk production edged higher in 1955 despite a reduction
in the number of cows. Consumption of dairy products was
also higher and smaller purchases were made by the CCC for
price support purposes. Total stocks of dairy products,
especially butter, were sharply reduced during the year.
The income position of dairy farmers improved in 1955 as
prices held about even with 1954 and feed prices declined
substantially during the year.
Poultry and egg producers also had a better year in 1955
with slightly higher production, a 7 percent average increase
in prices from 1954, and a material reduction in feed prices.
Whereas many dairy farmers raise most of their own feed
and to this extent do not benefit directly from lower feed
prices, most commercial poultry and egg producers purchase
the bulk of their poultry feed and hence have lower costs
Table 4.—Farm Gross National Product
[Billions of dollars]
Current dollars
Constant 1947-49 dollars
1952
1953
1954
1955
1952
1953
1954
37.2
34.4
34.1
33. 1
35.2
34.9
37.3
37.9
13.7
j
12.6
12.7
12.5
12.4
12,6
-.1
—.1
-.1
-.1
12.5
i
12.6
3. Plus: Other items,-
-.1
-. !
4. Equals: Farm gross national product
-.. _ -
23.4
21.7
21.4
20.5
22.7
23.3
24.6
25. 2
1. Total value of farm output 2. I/ess: Value of intermediate products consumed, total
1956
Source: U. S. Department of Commerce, Office of Business Economics, based largely upon
data from U. S. Department of Agriculture.
output during these years. This appears to be an adjustment to the less favorable price relationships for the farmer.
In terms of current or actual prices, the ratio of intermediate
products to final products has continued upward throughout
this period.
1. Historical estimate of current and constant dollar farm QNP are shown in the August
1954 issue of SURVEY OF CURRENT BUSINESS.
2. The man-hours represent the monthly average for each year of the number at work
in agriculture times the average hours from the Census Monthly .Report of the Labor Force.
Retail Trade
RETAIL sales in 1955 reached a total of $185 billion, about
$15 billion or 9 percent above the previous year. Since
retail prices were fairly stable in 1955, the physical increase
in sales about matched the rise in dollar values. New sales
highs were established in every major kind of retail business,
Advances were largest in the durable-goods categories, and
sales for the group as a whole rose by $9 billion, or 15 percent. Nondurable businesses accounted for an increase of
$6 billion or 5 percent.
Retail sales moved up steadily throughout the year. In
the final quarter, the rate of increase was reduced by a slight
decline in sales of durable goods. Sales of nondurablegoods stores continued their steady advance of about 1
percent per quarter.
A feature of the 1955 sales picture was the considerable
reliance placed on consumer credit to supplement the rising
incomes. Three-fourths of the consumer credit increase of
$5 billion during the year was in automobile sales financing.
Retailers sold 7.4 million new automobiles in 1955—a third
above the 1954 total—to establish a new sales record. Production continued at a high pace throughout the year, and as
a result of the slowdown in sales in the final weeks, new car
inventories increased sharply. At the turn of the year,
downward adjustments were being made in factory schedules.
Other durable-goods stores fared well in the 1955 sales
picture. Furniture and appliance store sales strengthened
following a fairly long period of relative stability and in 1955
were up about 10 percent over 1954; lumber, building and
hardware dealer sales rose 9 percent.
Sales of nondurable-goods stores moved generally upward
throughout the year, advancing at a somewhat sharper rate
than in 1954. From a seasonally adjusted total of $28.2 billion in the third quarter of 1954 they moved to $30.3 billion in
the fourth quarter of 1955. Last year marked the sixth sucessive year of advance in purchases of nondurable commodities.
The greatest 1954 to 1955 sales gain in the nondurab
categories, 8 percent, was registered by gasoline service
Record automobile sales
stations. This rise, which has averaged about the same in
each of the last four years, reflects in large part the increase in
About three-fourths of the $9 billion rise in the sales of
motor vehicles on the road. Passenger car registrations,
durable-goods stores from 1954 to 1955 was accounted for which had increased by 2 million in 1954 to a total of 48
by the automotive group which includes dealers in new and
million cars, reached 52 million by the end of 1955.
used cars, trucks, parts and accessories and other products
Sales by general merchandise stores in 1955 were up about
some of whom have substantial receipts from services.
7
percent
over 1954. After advancing at an average rate of
Starting in 7the fall of 1954, when the 1955 models with their
2 percent per quarter during the first 9 months, they de"new look' were introduced, sales of automotive dealers,
clined slightly, on a seasonally adjusted basis, at the yearseasonally adjusted, advanced at an average rate of about 6 perend.
cent per quarter for four consecutive quarters, exceeding by far
The outstanding advance at department stores was in the
the gains shown for any other group. In the final quarter
major appliance departments which registered a 25 percent
of the year, however, automotive dealers' sales leveled off,
sales gain in 1955. This sharp advance reflected, in part,
primarily because of reduced demand for new cars. For
increased promotional activity and the use of special sales
the full year 1955, sales of automotive stores amounted to
by such stores to meet the challenge of discount houses in
$38.2 billion, more than one-fifth above 1954.
the appliance field.
Table 5.—Sales of Retail Stores by Kinds of Business, 1952-55
Departmental variations also suggest some trading up by
consumers as a result of the steady rise in income. For
[Billions of dollars]
, - ..
._ .
._
example, while total sales of stores reporting on a depart- —
• ' --•"
1955 quarters
mental basis were up 5 percent in 1955 over 1954, within this
seasonally adjusted
aggregate sales rises tended to be much more pronounced in
annual rates
1952 19-53 1954 1955
departments handling higher priced goods. Increases of
i
I | n in ; rv
10 to 15 percent were shown for sporting goods and cameras,
fine jewelry and watches, silverware and clocks, and luggage.
164. 1 170.7 170.7 185.5 178.8 -183.9 1187.9 189.5
All retail stores i
On an overall basis, sales for main stores showed a 5 percent
Durable-goods stores *
55. 3 60.4 58.2 67.0 63.2 | 66.4 i 69.0 ; 68.5
gain compared to a 3 percent rise for basement stores which
generally handle lower priced lines.
28. 3 33.3 31.7 38.2 36. 0 ! 37. 9 i 39. 6 39. 1
Automotive group
.
Motor vehicle, other auto dealers- 26. 4 31.5 30.0 36. 3 34. 2 : 36. 0 j 37. 5 37. 1
The favorable sales experience encouraged department
9.8 i 9. 9 i 10. 2
10.2
9. 1 10. 1
8.9
9.1
Furniture and appliance group
Lumber, building, hardware group. 10.2 10. 4 10.1 11.0 10.3 ; 11. 1 | 11.2 11.3
stores to increase new orders placed with manufacturers in
Nondurable-goods stores l
108.8 110.4 112.5 118.5 115.5 117.5 119.0 121,0
1955 by 9 percent over the previous year. At the year-end,
outstanding orders were nearly a fifth above year-ago figures
10. 6 10.3 10. 1 10.8 10.5 • 10.7 ! 10.8 ' 10.9
Apparel group
5.2
4.9
5. 0 i 5. I i 5. 3
5. 4
4.7
4.8
Drug and proprietarv stores
and the ratio of inventories to December sales was somewhat
12.7 13.0 13. 1 13.7 13.0 ! 13. 6 14.0 i 13.9
Eating and drinking places
39.8 40.8 41.6 43.6 43. 0 i 43. 2 i 43. 8 i 44. 6
Food group
_
above the year before.
32.2 33. P. 35.0 36.9 36.3 i 36. 4 : 37.0 i 37.8
Grocery stores
Gasoline service stations , - - . . - 10.0 10.5 11.4 12.4 12.1 ! 12.3 ' 12.4 ' 12.8
Sales of apparel stores, which had been declining moderately since the end of 1952, definitely reversed their direction
General merchandise group - . - 18.7 19.0 18.9 20. 1 19.4 i 19.9 20.4 i 20.3
Department stores, excluding
!
J
i
in 1955 to advance by 6 percent over 1954 dollar volume
10.3 10.4 10.3 10.9 10.4 i 10. 7 i 11.1 ; 11.0
mail-order
Increases of a similar magnitude were indicated at drug and
food stores and eating and drinking places.
1. Sales of jewelry stores, other durable-goods stores, and other nondurable-goods stores are
not shown separately but are included in the appropriate total.
Chain stores shared in the business upswing in 1955.
Source; U. S. Department of Commerce, Office of Business Economics and Bureau of the
Sales of retail organizations operating eleven or more stores
Census.
28
l
!
SURVEY OF CURRENT BUSINESS
February 1956
amounted to $34 billion for the year, a 7 percent increase
over 1954. This was a somewhat better performance than
that experienced by all retail stores exclusive of motor vehicle
dealers, which are unimportant in the chain store field. The
1955 share of total retail business, exclusive of motor vehicle
dealers, going to chains with eleven or more retail stores
was 22.7 percent.
The gain in chain store sales relative to total trade activity
was most strongly evident in department store operations.
Chain department store sales rose 12 percent in 1955 compared to a 2 percent advance for all other department stores.
This may be associated with increases in the number of
branch department stores being opened in new shopping
center developments.
Table 6.—Ratio of Retail Sales to Disposable Personal Income
Sales of Retail Stores
1953
1954
69.3
68.2
67.0
68.8
l
23.3
24. 1
22.8
24.9
Automotive group
Motor vehicles, other auto
dealers
Furniture and appliance group
Lumber, b u i l d i n g , h a r d w a r e
12. 0
13. 3
12.4
14. 2
11. 1
3. 8
12. 6
3. 6
11. 8
13. 5
3.6
3.7
4. 3
4. 2
4. 0
4. 1
46.0
44. 1
44. 1
44.0
4. 5
2. 0
5. 4
16. 8
13. 6
4. 2
4. 1
1. 9
5. 2
16. 3
13. 4
4. 2
4. 0
1. 9
5. 2
16. 3
13. 7
4. 5
4.0
1. 9
5. 1
16. 2
13. 7
4. 6
7. 9
7. 6
7. 4
7. 5
4. 3
4. 1
4. 0
4. 0
All retail stores 1
ALL RETAIL STORES
Durable-goods stores
48
2TOUD
44
Nondurable-goods stores L
Apparel group
Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores
Gasoline service stations
40
36
lv_J
12
4
I
i
L
I
l
I
I
I
I
I
I
l
I
AUTOMOTIVE GROUP
(
I
I
»
I
i
i
1955
1952
BILLIONS OF DOLLARS
52
29
General merchandise group
Department stores, excluding
mail-order
1. Sales of jewelry stores, other durable-goods stores, and other nondurable-goods stores are
not shown separately but are included in the appropriate total.
Source: U. S. Department of Commerce, Office of Business Economics and Bureau of the
Census.
i
I
t
I
I
I
i
I
I
l
I
I
12
DURABLE-GOODS STORES
(EXCL. AUTOMOTIVE GROUP)
In the case of eating and drinking places also, the relative
advance in sales of chains exceeded those of independent
stores by a significant margin, a 7 percent rise for sales of
chains comparing with 4 percent for all other such establishments. For grocery stores, which form the most important sector of chain store operations, the relative advance
in sales of chain stores was only slightly higher than for
nonchain grocery organizations. At apparel and drug stores
increases in activity shown by chains in 1955 were less than
those registered by organizations operating fewer than 11
stores.
Sales-income ratio up
l—L
32
J
L
NONDURABLE-GOODS STORES
28
24
1952
1953
1954
QUARTERLY TOTALS, SEASONALLY
U. S. Department of Commerce, Office of Business Economics
1955
ADJUSTED
56 -
The ratio of total retail sales to disposable personal income
moved upward from 67 percent in 1954 to 69 percent in 1955
although there was a slight decline in this figure in the fourth
quarter. The rise in the proportion is attributable primarily
to increased sales by motor vehicle dealers. For this kind
of business the ratio of sales to income went up from 11.8
in 1954 to 13.5 in 1955. Slight advances in the proportion
were also shown for the other major durable-goods groups.
At nondurable-goods stores the ratio of total sales to
disposable personal income showed little change between
1954 and 1955. A slight decline in the ratio for food stores
and eating and drinking places was largely offset by small
increases in those of gasoline service stations and general
merchandise stores.
Foreign Business
P OREIGN purchases of United States produced goods and
services contributed appreciably to the rise in United States
business activity during 1955. The 10 percent rise from 1954
in exports (excluding shipments of military supplies and
services provided under grant-aid programs) compares with
the 1Y<L percent increase in the value of the aggregate output
of this country.
Exports of goods and services, seasonally adjusted at annual rates, rose by more than $1 billion from the third to the
fourth quarter of 1954, remained fairly stable through the
first half of 1955, and rose again by about $1.2 billion in the
second half of last year. Foreign purchases thus contributed
to the advance in business activity during the early phase
of the upswing, and again during the last half of 1955, when
the rise in domestic purchases was slowing down.
Upswing in exports to Europe and Canada
Nearly 60 percent of the $1.4 billion rise from 1954 to 1955
in nonmilitary merchandise exports represented greater shipments to Western Europe, and 33 percent reflected expanded
exports to Canada. Business activity in both areas, as in
the United States, had expanded to record rates during the
year.
However, there has been a continuous upward movement
of economic activity in Western Europe since the second
quarter of 1953, whereas Canadian business activity, having
undergone a period of adjustment in 1954, did not start to
expand until the latter part of 1954. This difference largely
explains the fact that the most recent rise in exports to
Canada began only in the second quarter of 1955, whereas
the upswing in exports to Western Europe started a year
earlier.
In 1955, as during the previous year, the United Kingdom,
Germany, and the Netherlands accounted for a large portion
of the rise in shipments to Western Europe. The new credit
restrictions and other anti-inflationary measures adopted
during the year by the United Kingdom and a number of
European countries so far have exerted little effect on their
demand for imports from the United States, the bulk of
which consist of food, tobacco, and basic industrial materials.
Sales to countries in the outer sterling area, including
South Africa, Australia, New Zealand, India, and Pakistan,
were responsible for most of the export advance outside
Europe and Canada.
A number of Latin American markets, notably Mexico and
Argentina, also expanded during 1955. On the whole, however, exports to Latin America were slightly lower than in
1954. This reflects the effects of the downturn in coffee
prices beginning in August 1954. Exports to Brazil, which
had enjoyed a temporary upsurge in 1954, again became
subject to rigid curtailment throughout 1955 with a resulting
reduction over the year of about $220 million. Shipments to
Colombia declined during 1955 but during the first half of the
year were partly financed through temporary measures, such
as drawings on reserves and short-term credits, since Colombia's dollar receipts during this period had dropped even
faster.
Exports to Japan were moderately lower than in 1954, but
recovered considerably from the decline which had occurred
in the last half of that year. The recovery reflected not only
the expansion of the Japanese economy but also the current
improvement in Japan's gold and dollar reserve position.
30
The geographic pattern of changes provides a partial explanation of the fact that exports of foodstuffs and raw materials, other than cotton, increased much more, percentagewise, from 1954 to 1955 than exports of manufactured goods.
Another reason was the rise in exports by other industrial
countries, which met to an increasing extent the world demand for industrial goods. The recent tendency of raw materials to absorb a larger, and manufactured goods a smaller,
share in exports is even more noticeable if 1955 exports are
compared with those in 1953. (See table 1.) This is in
contrast to the previous long-term tendency for the proportion of manufactured goods to total United States exports
to rise.
The advance from 1954 in shipments of industrial raw materials alone (excluding cotton and other agricultural items)
amounted to $750 million or more. Overseas coal shipments, destined mainly to support Western Europe's rising
industrial requirements, rose by about $175 million, thus
providing a major stimulus to increased output in the bituminous coal industry. Exports of steel (excluding scrap)
rose by roughly $170 million and thus claimed a slightly
larger portion of domestic output than in 1954.
Steel scrap exports, mainly to Western Europe, Japan, and
to some extent Canada, climbed to approximately 5 million
tons in 1955 as compared with about 1.5 million tons in 1954.
In value, the increase amounted to almost $125 million.
Part of the rise in domestic output of a number of other
basic materials—notably chemicals, woodpulp, other wood
and paper products, and synthetic rubber—was also channeled into markets abroad during 1955. Foreign demand
for nonferrous metals increased too, but the rise in such exports was restricted b}^ the imposition of export quotas during
the year.
Upturn in capital goods exports moderate
Considered in the aggregate the rise in exports of capital
equipment from 1954 to 1955 (excluding merchant vessels
transferred to foreign registry) amounted to roughly $175 to
$200 million with the bulk of the increase going to Canada.
Changes in demand for such exports had varying effects
on the output of domestic industries. Producers of construction and mining machinery boosted sales to Canada
alone by over $45 million and to other foreign areas by at
least $25 million. The civil aircraft industry also increased
its exports as well as its domestic shipments; it marketed 36
percent of its production abroad in the first 9 months of
1955—a slightly higher portion than in the year 1954.
Exports of railway freight cars also claimed a somewhat
larger portion of domestic output than in 1954. The increase in exports of freight cars, however, only partially
offset the drop in shipments of railway passenger cars to
Canada, and total exports of railway equipment in 1955 were
approximately $25 million below 1954.
Several other major equipment industries which traditionally depend to a large extent upon exports, namely
producers of machine tools, motor trucks and busses, and
agricultural machinery, experienced little change in foreign
sales during 1955 although domestic orders increased. Foreign demand for some of these products is being supplied to
an increasing extent from foreign sources.
SURVEY OF CURRENT BUSINESS
February 1956
Passenger cars and automobile parts and accessories dominated the rise in exports of consumer durables as well as in
domestic sales of such items. Of the total gain of perhaps
$300 million in exports of consumer durables from 1954 to
1955, passenger cars accounted for about $70 million and
automobile parts and accessories for approximately $115
million. By far the largest portion of the additional exports
went to Canada, where passenger car output and sales also
established new records in 1955. Other countries, particularly Sweden, Belgium, Venezuela, Cuba, and the Union of
South Africa, also shared substantially in the increased
shipments.
Table 1.—United States Exports (Excluding Military Aid) First 10
Months of 1955 Compared with Similar Period of Preceding 2
Years
January-October 1955 percent
change from—
January-Octo- January- October 1953
ber 1954
16
12
_ _
17
23
Raw materials (excluding cotton) and semimanufactures
Cotton
_ __
Finished manufactures, total
50
2
9
28
-33
8
34
60
99
72
36
-1
25
59
59
3
31
9
7
18
0
Total exports
Agricultural goods excluding cotton
Selected product groups:
Coal and related products
Iron and steel
Nonferrous metals
Wood and paper
Chemicals
Machinery
Automobiles and parts . ..
Textiles
_ _..
. __
Source: Basic data; U. S. Department of Commerce, Bureau of the Census.
During the first half of 1955 foreign demand for household
appliances and for radio and television sets from the United
States was little changed from the first half of the previous
year. In the third quarter of 1955, however, such exports
showed signs of increasing strength, reflecting in part the
beginning of an upturn in Canadian import demand.
Textile exports displayed a similar pattern, with gains limited
largely to the latter part of 1955.
Rise in most agricultural exports
The gain in agricultural exports during 1955 was aided by
Government programs including sales for foreign currencies
and exchanges of agricultural commodities for strategic and
critical materials.
Grain shipments increased by nearly $200 million with
larger exports of coarse grains as wrell as wheat. In the first
part of 1955 exports of wheat to Western Europe were considerably larger than in the same period of 1954 as a result
of the poor quality of the 1954-55 wheat harvest in that area.
During the early part of the current crop year, however,
our exports of oats and sorghums and corn expanded again.
Coarse grain exports from the United States in the latter
part of 1955 were additionally stimulated by the reduction
in supplies available for export from Argentina, as well as
by rising livestock numbers and higher feeding rates abroad.
Tobacco and soybean exports also gained substantially during; 1955.
31
Food shipments under foreign relief programs advanced
by over $90 million and were more than twice as large as
iii 1954.
The aggregate rise from 1954 to 1955 in agricultural exports other than cotton amounted to about $450 million.
Cotton exports, which fell by nearly $320 million as compared
with 1954, were handicapped by a number of factors. These
included increased production elsewhere which is sold at
lower prices than United States produced cotton, the leveling
out in foreign cotton consumption, and the partial switch
to synthetic fibers. At the same time foreign purchases of
American cotton may have been delayed in anticipation of
the special million bale export program effective in January
1956.
The sale of services, and income from foreign investments, rose by approximately the same proportion as exports
of merchandise. Incomes on United States direct investments abroad increased in Europe as a result of the general
rise in economic activity, and in other areas because of higher
output and prices of raw materials. A larger portion of
total foreign earnings appear to have been remitted to United
States parent companies than was the case last year.
Imports of goods and services rise 10 percent
The rise in foreign expenditures here was facilitated by a
nearly equal rise in foreign incomes from the sale of goods
and services to the United States, from United States investment abroad, and from the transfer of funds through
Government grants arid private remittances.
The net gain of $1 billion in imports of industrial raw
materials highlighted import developments during 1955.
Business purchases of such imported materials climbed by
$1.2 billion but Government stockpile acquisitions declined
by over $200 million from 1954 to 1955.
Prices of raw materials, particularly rubber and copper,
advanced significantly during the year under the pressure of
rising demands in Europe and in the United States. Price
increases occurring in the latter part of 1955 were not fully
reflected in the 1955 statistics, however, due to time lags
between orders and imports.
The increase from 1954 to 1955 in the volume of industrial
raw material imports, exclusive of Government stockpile
purchases, amounted to about 15 percent as compared with
a 10 percent rise in the index of domestic manufacturing
production. Most important among rising raw material
imports were petroleum, iron ore, and wood products.
Notwithstanding the large overall advance in such imports, those of a number of basic metals associated with
durable goods output did not rise above 1954, or increased
only moderately. Imports
of aluminum, copper, and nickel
were limited by suppl}7 shortages abroad and releases from
Government contracts were necessary to meet industrial
demand for these materials. In the case of lead and zinc
private inventories were reduced to meet rising requirements.
World newsprint supplies likewise became tighter during
the year. Imports expanded only moderately and, although
domestic production increased, inventories were drawn down
to help meet the enlarged demand.
Producers of textiles, leather, and other nondurable goods
that also participated substantially in the business upswing
in 1955 generally encountered a relatively abundant foreign
supply of raw materials. Greater imports of apparel wool
and raw silk were obtained at prices lower than in 1954
while increased purchases of carpet wool entailed only a
moderate advance in price. Enlarged imports of synthetic
textile filaments and furs also supported the rise in domestic
nondurable goods output during 1955.
SUEVEY OF CURRENT BUSINESS
32
As has been characteristic of most of the postwar period,
imports of manufactured consumer goods increased relatively
more—over one-fourth—than sales of domestically produced
goods. The $250 million advance in these imports during
1955 encompassed a wide range of individual items with
notable increases occurring in imports of finished textiles,
automobiles, and diamonds.
The aggregate value of imports of food, beverages, and tobacco dropped by about $150 million during 1955. This
decline can be attributed almost entirely to the drop in
coffee and cocoa prices from the extraordinary highs prevailing in 1954. The value of most of the other major food
imports was relatively stable.
Although the volume of coffee imports rose by approximately 335 million pounds under the stimulus of the lower
prices effective in 1955, the dollar value fell by about $120
million as compared with the previous year. The reaction
of cocoa demand to the reduced prices was apparently delayed arid the quantity of imports was even slightly lower
than in 1954.
Table 2.—Major Changes in the United States Balance of Payments
from 1954 to 1955l
[Billions of dollars]
Change
1954
1955
10. 3
5. 6
11. 5
6. 1
1. 2
.5
United States Government grants 2 and
capital
1. 5
2. 2
.7
United States private capital
1. 6
1. 0
Q
United States expenditures abroad
United States imports:
Merchandise
Services
.
_ _
Total United States expenditures
1. 8
Foreign expenditures in the United States
United States exports:
Merchandise 2
Services
12. 7
5. 1
Transactions unaccounted for (net)
Foreign accumulation of gold and dollar assets
through transactions with the United States. _
1.8
14. 1
5. 5
1. 4
.4
.2
2
1. 6
-.2
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.
Private payments for services increased by about $350
million over 1954. This includes a rise of about $100 million
in tourist expenditures. Military and other Government
service expenditures were about $200 million higher. Most
of the rise in these private and Government payments accrued
to Western Europe.
Private capital outflow smaller
Net outflows of private capital to foreign countries were
about $1 billion in 1955, including $750 million for direct
investments abroad and $250 million for short- and mediumterm loans and transactions in foreign securities.
The total for direct investments was about the same as in
other recent years, and, when considered together with an
equally large amount invested annually out of undistributed
foreign earnings, indicates a strong long-term buildup of
essential productive facilities abroad. Portfolio and shortterm capital outflows were much less than the extraordinary
amount of $860 million registered for 1954, but were in line
with the average for other postwar years.
February 1956
Foreign investment activity by United States enterprises
in recent years has been based on, and contributed to the
large gains in economic activity not only in foreign countries,
especially Canada and Western Europe, but also in the
domestic economy. About half of the direct investment
capital flow in 1955, as in other years since 1951, went to
Canada. Most of the new capital was invested in the petroleum and mining industries, but some went also into manufacturing and financial enterprises.
Direct investments in Western Europe during the year
reached a record amount of about $125 million, in addition
to which about $275 million of new investments were financed
from undistributed earnings.
Net capital flows to Latin America do not appear to have
been higher than the $100 million recorded for 1954, with
manufacturing investments accounting for about half.
Large investment outlays by petroleum and mining companies in this area are financed out of depreciation and other
charges against earnings, so that they are not reflected in
these estimates of net capital flows.
Direct investment capital flows to the rest of the world
were about $150 million in 1955, about the same as in 1954,
and were mainly directed to the petroleum industry.
Portfolio and short-term capital outflows were substantially smaller than in 1954 because of the high domestic
demand for investment funds, repayments of earlier loans,
and a large return flow of funds placed in the London
market in 1954. Also, the very large volume of short-term
outflows in 1954 had already raised the outstanding debt in
some countries, especially in Latin America, to unusually
high levels. Rising interest rates in the United States curtailed the sale of new foreign bond issues in this market for
most of the year and also caused a sizable liquidation of
existing holdings of Canadian bonds. On the other hand,
American investors purchased over $100 million of the
shares of Canadian and European corporations, but this
activity was reduced at the end of the year.
Government grants and credits up
Largely because of increased payments to support military
budgets abroad, Government grants rose by about $250
million. The net outflow of Government capital was more
than $400 million larger than in 1954 because of smaller
loan repayments by foreign countries and the increased
acquisition of foreign currencies from the sale of agricultural
commodities.
Foreign dollar accumulation continues
Since the rise in foreign receipts from the United States
was not quite as large as the rise in foreign expenditures
on goods and services here, the transfer of gold and dollar
assets to foreign countries was about $200 million smaller
than the $1,750 million of last year. However, a larger
share of net foreign dollar receipts was used for long-term
investments here, and the increase in foreign holdings of
gold and liquid dollar assets resulting from transactions with
the United States was reduced from about $1.5 billion in
1954 to about $1.2 billion last year. Newly mined gold
probably added perhaps another $400 million to foreign
reserves. For foreign countries as a whole the rise in gold
and liquid dollar assets, which amounted to about 6 percent,
appears to have been more than sufficient to facilitate continued expansion of international trade and business activit}'.
However, there are important areas where reserves were
diminished during the year, and balance of payments considerations may require continued restrictions on domestic
demands and imports.
BUSINESS STATISTICS
JL HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1955 Statistical Supplement to the SURVEY OF
CURRENT BUSINESS. That volume (price $2.00) contains monthly data for the years 1951 through 1954 and monthly averages for earlier years
back to 1929 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1951. Series
added or revised since publication of the 1955 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. In most instances, the terms "unadjusted" and "adjusted" used
to designate index numbers and dollar values refer to adjustment of monthly figures for seasonal variation.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely,
through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
Data from private sources are provided
1956
1)55
1954
December
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates:
National income, total _ _
bil. of dol__
303.2
311.4
320.7
325. 7
do
do
do
do
do
do _ _
209 8
198 1
163 8
9 3
25 0
11 8
213 1
200 8
166 5
Q l
25 3
12.2
219
207
171
9
25
12
5
0
7
3
9
5
224.3
211 3
175. 6
0 1
26 6
13.0
Proprietors' and rental income, totalcf
- -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
48.2
26 3
11 2
10.7
48.8
26 6
11 5
10.7
48.7
27 1
11.0
10.7
48.8
27 6
10. 6
10.7
50.1
28 0
11.4
10.7
35 5
36 0
18 1
17 9
—.5
9 7
39 6
40 9
20 5
20 4
—1.3
9 9
42 2
43.0
21 6
21.4
10 3
41 9
44. 5
22 3
22 2
—2. 6
10. 7
-3.1
11 2
Compensation of employees, total
Wages and salaries total
Private
Military
Government civilian
Supplements to wages and salaries
Gross national product, total
228.0
214 7
178. 8
9 0
26 9
13.2
"'
do
367 1
375 3
384 8
392 0
397 3
Personal consumption expenditures total
Durable goods
Nondurable goods
Services
do
do
do
do
241 0
30 4
122.5
88 1
245
34
122
89
250 5
35 1
125.3
90 2
255 7
36. 9
127 0
91.8
257
34
128
93
2
8
8
6
Gross private domestic investment, total
New construction Producers' durable equipment
Change in business inventories
.
do _
do_
do
do^ _
50 7
29.4
21 9
— .6
60
32
23
4
60 5
33. 2
24 9
2.4
63
32
25
5
2
3
5
3
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
.9
— .4
—.7
74.5
45 7
40 5
28 7
75.8
46 4
41.2
29 4
74
45
40
29
9
2
4
7
75.8
45. 5
40.6
30.2
77
46
41
31
8
4
4
0
54 1
31.2
21 5
15
1
6
2
3
— 3
.0
2
3
0
0
Personal income, total
Less: Personal tax and nontax payments
Equals: Disposable personal income
do
do
do
290 8
33 1
257 8
293 6
32 6
261 0
300 5
33 4
267 1
306 1
34.4
271 7
312 1
35 4
276 6
Personal saving§
do-
16 8
15 3
16 6
16.0
19 4
_
-
PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:
Total personal income
293 4
292 2
293 2
295 7
298 9
301 4
301 6
305 3
305 3
307 9
309 2
r 312 o
315 0
do
-do. ...
do
do
do
198.8
84.8
53 1
26 6
34 3
199.3
85.4
52 9
26 8
34 2
200.3
86.3
53 0
26 7
34 3
202. 6
87.8
53 6
27 0
34 2
204. 6
88.9
53 6
27 2
34 9
207.3
90.6
54 5
27 4
34 8
208.0
90.9
54 9
27 4
34 8
212.4
91.7
55.7
27 8
37.2
211.2
91.5
56. 1
27 9
35.7
212. 4
92 2
56.4
28.0
35.8
213.3
92.8
56 4
28 2
35.9
-215.3
r
94. 0
T
56 s
'•r 28 5
36 0
215. 7
94. 1
57 0
28 6
36 0
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. -
6.7
48.9
26. 5
17 1
6 8
49.1
25.0
17 0
6 8
48.8
25.3
17 0
6 8
48.5
25.5
17 4
6 9
49.0
25. 9
17 6
6 9
48.8
26.1
17 5
6 9
48.5
26. 3
17 1
7.0
47.9
26. 4
16 9
7.0
48.8
26.7
16 9
7. 1
49.7
27.1
16 9
7 1
49.8
27.4
16 9
7 1
50. 2
27. 6
17 1
7 2
50. 2
29. 9
17 4
4.6
5.0
5.0
51
5.1
5.2
5 2
5.3
5.3
5.3
5.3
Total nonagricultural income
_ . . . do.- 291. 7
278. 1
276.5
277.7
280. 9
283.7
286. 6
287.2
290.8
293.0
T
Revised.
o* Includes inventory valuation adjustment.
9 Government sales are not deducted.
§ Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above.
294. 4
Wage and salary disbursements, total
Commodity-producing industries--, Distributive industries
Service industries
Government
-
bil of dol
T
5.3
r
296. 6
5.4
299.8
S-l
January
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
February 19."iC
1956
11 55
January
February
March
April
May
I June
July
August
Septem- October Novem- December
ber
ber
January
GENERAL BUSINESS INDICATORS—Continued
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly totals:
All industries
Manufacturing
Durable-goods industries
Nondurable-goods industries
. _..
1
6,988
5, 847
7,009
7,449
do
_ . _do-- do
2, 965
1,373
1, 592
2, 249
1,063
1, 186
2 795
1,278
1, 517
2,899
1,378
1,521
3 377
1, 699
1, 678
do
do
do
do
do
244
180
379
1, 109
2,110
186
179
359
845
2,030
235
217
420
1, 052
2, 290
248
215
401
1,174
2,512
264
318
418
1 307
2, 278
26. 18
25 65
27 19
29 65
mil o f d o l
Mining
Railroads
Transportation, other than rail
Public utilities
Commercial and other
Seasonally adjusted quarterly totals at annual rates:
All industries
bil o f d o l
Manufacturing
Durable-goods industries
Nondurable-goods industries
do
do
do
10.58
4.80
5.79
10.17
4.78
5.39
10.84
5 06
5. 78
11.97
5. 77
6.20
Mining
Railroads
Transportation other than rail
Public utilities
Commercial and other
do
do
do
do
do
.91
.68
1 53
4 01
8.46
.80
74
1 46
4 01
8.46
.94
80
1 62
4 09
8.90
.99
96
1 60
4 43
9.70
1
7 962
30 86
12. 64
6 23
6 41
1
1
4
9
97
15
66
70
74
FARM INCOME AND MARKETINGS $
Cash receipts from farming, including Government
payments, total __
mil. ofdol
Farm marketings and CCC loans, total _ _ -do
Crops
,
do
Livestock and products, total?
- do Dairy products
do
Meat 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
2,071
2,436
3,067
3,644
3,333
1,948
653
1, 295
387
611
262
2,061
868
1,193
371
543
259
2,426
1, 095
1,331
354
685
279
3, 054
1, 678
1,376
337
707
318
3, 629
2,088
1,541
344
836
347
3, 312
1,900
1,412
333
708
359
181
366
294
231
341
311
307
314
366
387
350
461
593
362
547
738
406
500
671
372
130
80
169
134
67
184
135
90
169
143
127
156
165
157
171
203
240
175
242
297
201
214
239
196
2,812
2, 571
1,948
1,921
1,998
1,919
2,782
1,456
1, 326
335
704
272
2,536
1,245
1,291
311
741
219
1,917
738
1,179
299
618
243
1, 898
577
1,321
348
671
286
1,983
645
1,338
365
674
272
1,902
511
1,391
396
673
283
420
515
349
382
440
340
289
261
310
286
204
348
299
228
352
180
185
175
165
167
163
129
106
146
129
79
166
1,959
INDUSTRIAL PRODUCTION
Federal Peserve Index of Physical Volume
Unadjusted combined index
Metal fabricating (incl ordnance)
Fabricated metal products
Machinery
Nonelectrical machinery
Electrical machinery
Transportation equipment 9
Autos
Trucks
Aircraft and parts
Instruments and related products
Furniture and fixtures
Lumber and products
Stone, clay, and glass products
Miscellaneous manufactures
Nondurable manufactures
Food and beverage manufactures
Food manufactures 9
M^cat products
Bakery products
Beverages
Alcoholic beverages
Tobacco manufactures
Textile-mill products 9
Cotton and synthetic fabrics
Wool textiles
128
132
135
138
138
138
139
130
139
142
147
146
141
do
do
do
do do
129
143
117
121
160
133
147
129
130
159
136
151
136
138
167
140
154
142
146
169
140
155
144
148
166
140
155
143
151
166
141
155
144
147
167
132
146
122
133
127
140
153
132
141
150
144
157
143
150
173
149
'164
149
154
171
148
163
149
156
173
143
159
147
do
do _
do
do
do
156
124
146
123
191
159
124
148
126
191
162
126
152
129
196
165
130
154
132
195
166
131
152
134
189
165
134
151
135
181
163
135
153
137
184
157
130
142
131
165
162
139
153
131
194
165
142
161
137
207
173
145
169
141
223
174
139
164
141
208
171
138
162
145
194
do
do
do- .do
_ - do
do. - do
do
- do~
191
174
94
478
142
112
116
134
134
200
195
98
479
140
109
117
132
129
205
210
87
477
142
113
125
134
134
209
215
J04
479
145
114
126
140
137
213
223
137
472
144
111
129
146
135
209
205
132
469
142
113
129
149
137
200
184
134
466
149
116
137
155
141
197
195
126
469
147
113
118
149
133
192
166
106
469
150
123
133
158
142
185
130
102
484
155
127
136
158
149
200
153
106
490
158
128
138
161
154
215
212
122
501
160
128
123
159
152
207
do
do
do
do
do
do
do
do
do
_do
do
115
101
104
136
98
88
84
83
98
104
70
120
98
102
138
94
84
80
105
104
114
70
122
97
99
124
95
89
86
104
108
116
72
125
100
100
128
95
101
100
105
109
118
74
124
101
100
118
94
107
106
99
109
118
79
124
104
102
114
97
113
107
109
108
116
83
127
112
108
114
100
127
117
116
106
110
85
117
111
109
104
100
121
106
92
91
96
73
128
117
118
118
98
114
104
112
108
115
79
130
122
125
129
99
111
102
107
106
111
80
135
124
125
143
100
118
117
109
112
117
85
132
115
118
150
99
126
1947-49=100
Manufactures
_
Durable manufactures
Primary metals 9
Steel
Primary nonferrous metals
__
-
-
162
128
112
154
149
112
118
83
95
110
116
117
123
113
99
116
111
113
121
117
Apparel and allied products -- -do
92
105
108
113
105
94
100
105
107
100
112
109
Leather and products
do
139
154
155
156
148
153
158
152
129
157
140
167
Paper and allied products
_ - -do- ~ 151
154
151
135
150
148
150
156
140
147
158
127
Pulp and paper
do
121
122
123
128
127
127
119
131
135
135
133
123
Printing arid publishing
do- - . .
165
165
165
163
158
166
158
156
162
171
176
178
Chemicals and allied products
do
184
182
185
176
190
177
182
197
169
182
192
166
Industrial chemicals
do
134
133
131
136
138
134
136
140
132
138
129
142
132
Petroleum and coal products
do
141
135
140
143
139
131)
141
144
143
148
142
140
Petroleum refining
do
146
147
133
'144
151
121
144
146
150
145
155
128
Rubber products. . . _
_ _ _ _ _ _ _ __do .. r
Revised.
v Preliminary.
' Estimates based on anticipated capital expenditures of business; those for the 1st quarter of 1956 appear on p. 4 of the December 1955 issue of the SURVEY.
9 Includes data not shown separately.
JAnnual estimates beginning 1910 and monthly data beginning January 1953 for cash receipts, also monthly data beginning January 1953 for indexes of cash receipts and volume of marketis, have been revised to take into account the latest information on production, disposition, and price. Unpublished revisions (prior to August 1954) will be shown later.
SURVEY OF CURRENT BUSINESS
February 1056
1954
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
December
S-3
19,>5
January
F
U
^y ~ j
M
*
rch
April
May
June
1956
July
August
Septem- October Novem- December
ber
ber
January
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION— Continued
Federal Reserve Index of Physical Volume— Con.
Unadjusted index— Continued
Minerals
Coal
Crude oil and natural gas
Metal mining
Stone and earth minerals
114
75
138
76
122
117
77
142
79
115
do
130
132
do
_do.
do
131.
143
121
133
145
127
1947-49 = 100 .
do
do
do
.
do
__
Adjusted, combined index
Manufactures
_
Durable manufactures
Primary metals
_
__
Metal fabricating (incl. ordnance)
do
Fabricated metal products
do
Machinery
do
Nonelectrical machinery. . _. . . do
Electrical machinery
do
r 155
Transportation equipment
Instruments and related products
Furniture and fixtures . _ . . . _
Lumber and products
Stone, clay, and glass products. _ _. .
Miscellaneous manufactures
' 189
do
do
do
do
do
do
Nondurable manufactures
do
Food and beverage manufactures
do
Tobacco manufactures
._ do
Textile-mill products
do
Apparel and allied products
_ __ _ _ _do
Leather arid products
_. _
_ . - . do Paper and allied products
Printing a n d publishing _ _ _ _ _
_
Chemicals and allied products
Petroleum and coal products
...
Rubber products
Minerals
Coal
Crude oil and natural gas
Metal mining
Stone and earth minerals
-
-
.. ._
_
_ _
T
124
82
141
126
139
136
138
139
139
138
151
138
140
153
140
141
155
143
141
155
134
135
136
148
136
r
190
r 197
140
109
129
136
132
r
T
200
199
142
109
127
138
133
121
107
107
102
110
105
121
106
106
103
106
104
140
123
155
131
143
160
129
r 147
126
162
130
151
131
r
191
T
163
134
153
134
r
189
»• 164
r
r
r
192
166
135
158
138
197
T
r
r
198
r 202
149
121
133
153
145
151
122
125
152
143
143
112
127
143
136
202
143
113
127
146
136
202
142
117
128
149
142
135
155
136
r
r
T
88
143
136
139
126
87
144
117
135
125
91
147
140
142
143
144
144
142
158
139
144
160
146
145
r
148
146
161
149
145
160
151
170
141
199
173
149
164
143
205
172
139
162
143
198
170
139
160
142
196
205
155
125
127
155
145
208
156
124
130
153
145
159
123
123
157
145
168
137
r
159
r 161
140
196
T
203
153
124
127
155
145
T
107
106
143
123
158
134
138
147
125
161
134
140
151
125
163
136
144
156
126
168
134
147
156
128
170
136
149
155
128
170
134
137
153
128
168
135
138
120
74
142
110
126
123
79
144
114
124
121
72
145
113
132
119
72
143
100
129
121
81
139
111
129
122
86
139
117
129
120
87
139
88
130
121
82
141
105
130
132
142
151
155
156
147
144
137
139
136
149
174
130
109
108
258
94
163
195
137
108
124
260
95
174
210
146
111
138
272
97
179
215
151
114
151
260
99
180
223
145
111
150
228
99
167
205
136
109
145
189
102
160
184
141
113
152
192
106
152
195
115
105
116
143
103
152
166
141
117
127
254
110
145
130
159
124
151
289
115
139
r jdl
r
142
144
H5
r 144
r
150
152
r
r
161
* 192
r
136
109
«• 133
222
100
163
192
r
140
130
* 140
226
100
163
190
141
113
r
r
T
r
T
r
107
100
r
do
do
do
do
do
13(5
do
do .. do. -do
do -
IK;
121
155
129
133
73
138
103
127
107
107
104
r
111
r
T
r
r
127
108
109
106
114
105
r
109
r
109
r
107
r 114
r
126
108
101
106
112
r
T
r
!61
141
105
102
r
128
r
rl27
125
108
100
107
112
10?
101
124
T
r
126
83
142
141
141
126
109
103
r
107
7
112
105
' 107
r
119
77
139
104
135
133
»•
119
139
141
134
134
147
131
158
126
146
125
r
189
193
121
74
119
72
143
101
128
r
r 121
122
77
139
131
133
118
71
145
86
122
157
125
145
124
187
125
145
140
108
131
135
131
119
79
144
85
113
r
128
108
T
!29
r
123
157
130
173
139
147
!23
127
87
147
131
125
80
144
127
133
146
159
147
!57
153
T
162
127
145
315
r
120
178
212
150
124
132
279
117
162
193
137
80
143
r
r 141
i20
119
133
130
112
158
131
171
137
147
r
80
130
112
110
121
102
157
130
173
135
!42
193
124
155
146
111
100
109
116
105
100
107
M16
104
r
207
161
131
142
CONSUMER DURABLES OUTPUT
Unadjusted total output
1947-49=100
Major consumer durables
Autos
M'alor household goods
Furniture and floor coverings
Appliances and heaters
Radio and television sets
~-^
Other consumer durables
do
do
do
do
do
do
do ..
Adjusted total output
do
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
._
r
131
-"146
'167
T
130
r
r 157
r
242
90
188
133
107
126
225
98
105
' 117
r
159
r 191
r
r
134
107
130
226
99
r
T
r
T
r
160
173
r 151
169
188
r 155
222
103
117
145
269
106
117
' 146
290
106
171
193
155
121
143
294
107
142
r
r
T
r
r
r
111
153
152
r
151
147
172
T 168
r
194
r
167
196
r 148
r 143
161
187
141
121
134
235
114
114
195
156
T
123
r 147
279
111
r
121
137
259
r H4
BUSINESS SALES AND INVENTORIES §
Manufacturing and trade sales (adj.), total. _bil. of dol..
Manufacturine;, total
Durable-goods industries
-
__ -
-
_ .. do do
Wholesale trade total
Durable-goods establishments
Nondurable-goods establishments
Retail trade, total
. ..
Durable-goods stores
Nondurable-goods stores
do
do
do
-~-.
_-
do _ .
do
do _
Manufacturing and trade inventories, book value, end
of month (adjusted), total
_ bil. of doL
Manufacturing, total
Durable-goods industries
Nondurable-goods industries
Wholesale trade, total
Durable-^oods establishments
Nondurable-goods establishments
48.7
48.7
48.9
50. 7
50.9
51.7
52.3
51.9
52.8
53.1
24. L
11,6
12 5
24.3
11.8
12 4
24.6
12.0
12 6
26.0
12.9
13 1
26.0
12 8
13 2
26.6
13 3
13 3
27 1
13 5
13 6
26.7
13.5
13 2
27.2
13 7
13 5
27 2
13 7
13 5
9 5
3.0
6.5
9 5
3. 1
6.4
9 5
3. I
6.4
9 7
3.2
6.5
9 6
3.2
6.4
9 7
3.3
6.4
9 7
3.3
6,5
9 6
3.3
6.3
9 9
3.4
6.4
15.1
5.3
9.8
14.9
5. 1
9 7
14.8
5.2
9.6
15. 1
5.5
9.6
15.3
5 5
9.7
15. 4
55
9.9
15 4
56
9.8
15. 5
5.7
9.8
53. 2
53.2
27.3
13 7
13 6
27 3
13 7
13 6
10 0
3.4
6.6
10 1
3.4
6.7
r 1Q ]
3.4
6. 6
10 1
3.4
6.7
15.7
5 8
9.9
15 8
58
10 0
15 8
5 8
10 0
15 8
5 7
10 1
15 8
5 7
10 1
r
76.9
76. 9
77. 3
77.5
77 7
78 3
78 8
79 2
79 6
80 0
r go 9
r 81 6
82 1
-do
do
do
43.3
24 0
19.2
43.2
24 0
19.2
43.3
24 0
19.2
43.3
24 1
19.2
43 3
24 2
19.1
43 5
24 3
19.2
43 8
24 5
19.3
43 9
24 6
19.4
44 3
24 8
19.5
44 7
25 2
19.5
r 45 4
T 25 7
19.7
r 45 7
19.6
45 9
26 3
19. 6
do
do
do
11.5
5 7
5.8
11.5
5 7
5. 8
11.7
5 7
n' 9
11.6
5 7
5' 9
11.7
5 7
5.9
11.8
11.8
5 Q
59
11.9
6 0
5" 9
11.9
6 0
5 9
12.0
6 1
59
12.2
6 2
6 0
12.3
6 3
60
12. 3
6 4
5 9
23 4
10.8
12.5
23 3
10 8
12.5
23 2
10 7
12.5
23 3
10 7
12.6
r 93 6
23 9
11 2
12. 7
5 8
60
Retail trade, total
do
22.1
22.2
22 4
22 6
22 8
23 0
23 2
Durable-goods stores
_ _.
_ do . _ _
10.1
10.5
10.2
10.3
10.5
10 8
10 8
Nondurable-goods stores.
.... . . do ...
12.0
12.1
12.0
12.1 !
12.2
12.3
12.4
r
Revised.
§The term "business" here includes only manufacturing and trade. Business inventories as shown on p. S-l cover data
data for manufacturing are shown on p. S-4; those for retail and wholesale trade on pp. S-9, S-10, and S-ll.
r
26 6
13 3
13 4
52.5
r
r 26 1
T
r
11 0
!2.6
for all types of producers, both farm and nonfarm.
Unadjusted
SUEVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
February 1956
1956
1955
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
January
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
27 596 j r 27 830 i r 27, 292 i 26, 952
13, 682
13 502 1 '• 13, 656 r r13, 723
2, 454
2, 390
2, 369
2, 353
r
1,381
1.328
1,548
1 536
' 3, 473 ; 3,747
3,577
3.535
lies value (unadjusted), total
mil of dol
Durable-goods industries, total
do
Primary metal
--.
. _do...
Fabricated metal
do
Machinery (including electrical)
do.
Transportation equipment (including motor
vehicles")
mil. of dol
Lumber and furniture
do
Stone clay and glass
do
Other durable-goods industries
do
24, 164
11, 737
1,793
1, 043
3,287
23 699
11,400
1,873
1 078
2.920
23 971
11 796
1, 898
1 090
3, 134
27 550
13 899
2,225
1 291
3,628
26 296
13 300
2 178
1 278
3,326
26 325
13 390
2,241
1 259
3,382
27 394
13 974
2, 349
1 397
3 682
24 644
12' 114
1 , 875
1 294
3 036
27 411
13' 494
2 223
3,213
3, 166
3, 239
1 009
3, 852
1 176
3, 805
1 100
3 529
1 244
3 342
1 034
'631
1 057
902
3 142
1 344
744
1 124
2 956
1 285
1 076
643
970
3 732
1 136
1 107
1 149
Nondurable-goods industries total
do
Food and beverage
do
Tobacco
-- do
Textile
__
- - --do ...
Paper
do
Chemical
do
Petroleum arid coal
do
Rubber
- --do _ .
Other nondurable-goods industries
do
12, 427
3, 975
12 299
3 908
12 175
3 799
13 651
4 117
12 996
4' 045
12 935
4 176
13 420
4 377
12 530
4' 148
14 094
4 419
14 174
4 352
1,077
1,047
1,004
1, 151
1.072
1,043
1,148
1,621
2, 470
1 776
2, 339
1 737
2 238
2 025
2,388
2 006
2, 238
1 979
2,229
1 955
2 338
1 753
2 276
1, 855
1. 759
1.980
2,339
2, 073
1, 881
1,927
1 856
13 917
4 392
360
1,187
883
1 984
2 382
470
2 259
lies value (adjusted), total
Durable-goods industries, total
Primary metal
Fabricated metal
Machinery (including electrical)
Transportation equipment (including
vehicles)
mil.
Lumber and furniture
Stone clav and glass
Other durable-goods industries
do
do
do
do
do
motor
of dol
do
do
do
Nondurable-goods industries, total
do
Food and beverage
do
Tobacco
^o
Textile
--- -- d o _ _ .
Paper
-- -- - - - .-.do.. .
Chemical
do
Petroleum and coal
do
Rubber
do
Other nondurable-goods industries
do
nventories, end of month:
Book value (unadjusted), total
do
Durable-goods industries, total
do
Primary metal
do
Fabricated metal...
...
...do
Machinery (including electrical)
do
Transportation equipment (including motor
vehicles)
mil. of dol
Lumber and furniture
do
Stone clav, and glass
_. .
do ._
Other durable-goods industries
do
By stages of fabrication:
Purchased materials
bil, of dol
Goods in process
do
Finished goods
__do
Nondurable-goods industries, total
mil. of dol.
Food and beverage
do
Tobacco
do
Textile
- do ._
Paper
do
Chemical
do
Petroleum and coal
do
Rubber
-.-do-..
Other nondurable-goods industries
do
By stages of fabrication:
Purchased materials
_ __bil. of dol_.
Goods in process
- do
Finished goods
_.
do
Qventories, end of month:
Book value (adjusted), totnL...
Durable-goods industries, total
Primary metal
mil. of dol._
do
do.. ._
Machinery (inc 1 udin cr electrical)
do
Transportation equipment (including motor
vehicle^)
mil of dol
I umber and furniture
do
Stone clay and ^Inss
do
r
Other durable-goods indust ies
do
By stages of fabrication:
Purchased materials
bil of dol
Goods in process
do
Finished ^oods
do
Nondurable-goods industries f~otal
Food and beverage
Tobacco
Textile
Paper
Chemical
Petroleum and coal
Rubber
By stages of fabrication:
Purchased materials
GrOods in Drocess
Finished
ffoods
'Revised.
_
mil of dol
do
do
do
- do ...
do
do
do
_
bil of dol
do
do _.
955
530
916
317
712
400
944
498
921
277
756
437
505
921
268
731
418
651
309
847
475
300
803
459
672
968
343
824
460
716
343
844
488
316
952
776
453
1 585
3 332
T
921
879
2 040
2, 362
451
483
2 359
2,450
26, 025
12, 805
2, 133
1, 278
3, 193
26, 651
13, 322
2,213
1 325
3, 410
27, 111
13, 527
2, 315
1 383
3, 547
26, 731
13, 503
2.138
1 407
3 475
27 229
13, 745
2 285
3, 061
3 221
1 026
3, 197
1 051
3,486
1 069
3, 546
1 048
3, 609
1 125
3,329
1 208
3, 615
1 198
3 413
1 280
3 438
1 236
1, 057
1,013
1,091
1,044
3 252
1 131
' 665
1,035
13, 584
4,329
13, 228
4,223
13, 484
4 291
13, 532
4 249
13, 376
4. 104
12, 527
3,991
299
12, 437
3,993
298
574
980
12, 620
4,029
298
1,015
632
637
970
652
988
13, 116
4, 1 13
13, 220
4, 246
13, 329
4,189
303
326
336
688
318
657
316
682
330
1, 035
1,096
1,117
1,172
1,148
1,133
1.109
1,131
1,740
2 293
1,787
2.307
1,902
2,341
1, 961
2,346
1,985
2,386
1,844
2,299
2 001
2 3«2
2,010
2 346
1,981
440
466
1,912
2,284
1,880
1,970
2,088
2,103
2,019
2,109
2.108
2 041
2 151
417
424
807
787
445
841
465
844
465
834
471
874
456
43,511
24, 047
3, 345
2, 391
7,820
43, 503
24, 053
3,280
2, 417
7,822
43, 477
24, 121
3,229
2,420
7,844
43, 483
24, 268
3, 166
2, 486
7,898
43, 344
24, 352
3, 126
2, 546
7, 955
43, 649
24, 539
3, 134
2,601
8,029
43, 976
24, 755
3, 116
2,716
8,078
43, 855
24, 574
3, 201
2, 656
8,009
43, 945
24, 618
3,281
2, 594
7,983
5,825
1,690
5, 831
1,719
5, 863
1,742
5,940
1,731
5, 922
1,736
5,925
1,752
5, 998
1,747
5, 865
1,773
5, 953
1.759
2,116
2,102
2,116
2, 133
2,152
2,183
2,194
2, 164
6.5
9.7
7.8
6.4
9.8
7.9
6.3
9.8
8.0
6.2
6.2
6.3
6.6
10.0
10.0
10.0
6.5
19, 464
4,730
1,919
2, 327
1,014
3. 082
2, 669
19,450
4,697
1,963
2,330
1,028
3, 049
?, 581
19,356
4, 543
1 , 984
2, 380
1,055
3, 045
2,590
19,215
4, 391
1,901
2, 396
1,057
3, 022
2,587
2,902
2,996
3, 003
8.1
2.7
8.7
7.9
2.8
8.7
43, 265
24, 023
3, 235
2 440
7, 881
860
882
907
914
8.1
915
8.2
915
8.3
906
10.1
8.2
906
10.0
870
456
r
2,152
2,122
2,103
6.8
7.0
7.1
7.7
r 10. 5
7.8
7 1
10 6
'8.0
7.2
10.9
8.1
10.0
7.8
10.2
3,063
3.173
3,251
3,233
3,163
3,065
7.9
2.9
8.6
7.8
2.9
8.5
7.7
2.9
8.4
7.6
2.9
8.5
7.6
2.9
8.7
7.6
2.9
8.7
7.6
3.0
8.7
7. 7
43, 196
23, 984
3,239
2 417
7,804
43, 256
24, 028
3, 262
2 420
7, 794
43, 332
24, 112
3, 288
2 461
7, 788
43, 264
24, 159
3, 266
2 496
7,816
43, 549
24, 304
3,236
2 501
7,919
43, 779
24. 457
3,188
2 587
7, 905
43, 938
24, 563
3,197
2 604
8,010
44, 315
24, 768
3,259
2 620
8,069
44, 703
25, 182
3, 305
2 757
8,110
5, 780
1.690
5 838
1,719
5,861
1,724
5, 883
1,714
5,864
1,719
5, 876
1, 735
5,961
1,747
5,905
1,755
5,990
1,742
6, 136
1,795
r 6, 331
2,137
2,102
2.146
6.3
9.8
7.9
6.4
9.7
7.9
19 242
4 532
1, 845
2, 399
1, 004
3,013
2,643
2 9S5
860
821
7.8
2.8
8.6
897
897
906
914
830
2,095
2,091
2,110
2,140
2.172
2,186
2,174
2,165
6.3
9.8
7.9
6.3
9.9
7.9
6.5
9.9
7.8
6.5
6.6
6.7
10.0
10.0
6.6
6.9
19 212
4 558
1, 852
2, 354
1, 028
3,020
2,634
19 228
4,499
1,842
2,380
1,034
3,019
2,670
19, 220
4,442
1, 846
2. 396
1,036
2,982
2,667
19, 105
4.400
1,839
2, 380
1,034
2.943
2, 658
19, 245
4, 391
1,842
2, 396
1,038
2, 995
2,670
2 976
3 002
3 046
3 067
7.8
2.8
8.6
7.7
2.8
8.7
7.7
2.8
8.7
2.8
8.6
782
805
784
10.1
10.1
7.8
8.0
19, 322
4, 344
1,857
2,426
1, 034
3,024
2, 713
19, 375
4,358
1,832
2,398
1,063
3, 039
2,753
3, 103
3, 074
7.8
2.9
8.5
7.8
2.9
8.6
7.9
810
7.9
850
19, 582 ' 19, 647 19, 858
4, 623
4, 656
4, 661
1, 837
1,777
1 797
2, 450
2,349
2,377
1. 058
1,028
1,031
3,294
3,101
3 142
2, 668
2,880
2 823
848
888
2, 943
' 2 928 2,984
'7.9
3.0
8.6
888
790
872
811
887
865
914
10.2
3.0
'8.7
r
45, 356
' 25, 659
3,426
2, 726
8,240
1,843
947
'7.0
r
10.5
8.0
8.2
19, 547
4,374
1,829
2,434
1,078
3, 112
2, 755
19, 521
4,392
1,763
2,397
1, 026
3,188
2,787
19, 697
4,497
1,759
2,397
1,049
3,190
2,824
3 079
3,102
3,094
3,079
7.8
2.9
8.6
7.9
3.0
8.6
7.9
3.0
8.6
8.0
3.0
8.7
853
2,267
6 610
1, 837
983
2.114
7.9
827
13, 629
4. 092
333
1, 105
871
1,957
2.522
' 6, 388
' 1, 806
' 901
' 2, 094
900
3,040
875
' 655
1,005
r 6, 346
1,806
887
19, 365
4,475
1,728
2,373
1,016
3, 063
2,815
842
144
6, 066
1, 777
896
19, 327
4,348
1,719
2,410
1, 046
3,047
2,783
824
r I
46. 058
26, 200
3, 631
2, 652
8.373
19, 281
4,221
1,722
2,422
1,052
3, 051
2,753
821
3.390
1,140
677
1.074
' 3, 576
' 45, 317
' 25, 670
' 3, 600
' 2, 649
' 8, 232
19, 221
4,108
1,764
2,450
1,034
3, 053
2,686
806
2.022
27. 288
13. 659
2, 362
1, 398
3.618
44, 959
44, 266
24 901 r 25, 377
3,512
3, 379
2, 617
2. 674
8, 093
7,996
19,110
4, 145
1,805
2,444
1,038
2,993
2,670
806
443
2 228
' 13, 622
' 4, 047
'327
1,112
' 1,197
877
'886
1,939
'2,014
2,339
' 2, 479
447
482
r
2,231
2, 190
18,992
4, 228
1 , 857
2, 404
1,044
2, 967
2,605
821
r
327
319
1.068
754
T
670
1,764
2,287
741
13, 270
4. 010
323
1, 094
836
1,798
2,724
27, 343
27, 224 rr 26, 637
13, 261 ' 13,721
13, 692
2,324
'r 2, 393
2 394
1 382
1,395
1 436
3 472 r 3, 553
3 474
1, 046
742
13 569
4, 084
'334
'1,221
'886
r
1,919
r
2, 454
r
25, 976
12, 860
2,087
1 253
3,318
586
990
3, 457
1, 060
616
1,020
r
1, 246
1, 244
2 058
2 346
24, 649
12, 029
1, 950
1 147
3 130
985
596
964
r
320
338
24, 287
11, 850
1, 829
1, 123
3,075
1 510
3, 633
1, 133
'668
1 045
738
730
24, 097
11,570
1,719
1,098
3,147
3 484
r
r
3, 087
1 188
863
874
902
8.2
'2 9
8.5
8.5
2.9
8.5
' 45, 669 45. 859
' 26, 050 26, 280
' 3, 491 3, 521
' 2 759 2 734
' 8. 397 8,455
' 6, 475
'1,843
' 948
' 2, 137
6.589
1,819
983
2,179
'6.9
' 10.8
'8.3
7.0
11.0
8.3
' 19,619
4, 450
1,779
2,426
1,041
3,157
2,768
935
' 3, 063
19, 579
4, 420
1, 766
2, 500
1,048
3,214
2,641
1
8.2
3.0
8.4
8.1
3.1
'8.4
3,055
.
SURVEY OF CURRENT BUSINESS
February 1956
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
S-5
1955
January
February
March
April
May
June
1956
July
DecemOctober NovemAugust September
ber
ber
January
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
New orders, not (unadjusted), total
mil. of dol.
Durable-goods industries, total
_ _ do
Primary metal
do
Fabricated metal
__
do
Machinery (including electrical)
do
Transportation equipment (including motor vehicles)
mil. of dol_Other durable-goods industries
do
'28, 21 3 rr 27, 726
14, 061
14, 026
2 302 r 2 613
1 540 *• 1 412
3 882 T 3 582
24, 309
11, 788
2 151
1, 159
3 029
24, 324
11, 940
2 222
1,135
2 983
24, 268
12, 023
2 397
1,064
3 191
28, 310
14, 596
2 896
1, 463
3 656
26, 043
13, 132
2 504
1,218
3 345
26, 708
13, 713
2, 513
1,298
3 321
28, 314
14, 571
2 328
1,640
3 929
26, 100
13, 347
2 316
1, 445
3 639
28, 443
14, 580
2 559
1, 686
3 698
28, 744
14, 766
2 406
1,617
4 029
3,173
2,276
3,015
2,585
2,871
2, 500
3,658
2,923
3,337
2,728
3, 768
2,813
3,548
3,126
3, 234
2 713
3,191
3 446
3,733
2 981
do _ _ _
do
do
12, 521
2 901
9, 620
12, 384
2 893
9,491
12, 245
2 870
9,375
13, 714
3 253
10, 461
12,911
2 888
10, 023
12, 995
2 957
10, 038
13, 743
3 403
10 340
12 753
3 010
9 743
13, 863
3 159
10 704
13 978
3 195
10 783
New orders, net (adjusted), total
...
do _ _
Durable-goods industries, total. _ _
_ _ _ -do _ _
Primary metal
_
do
Fabricated metal. _ _ _ _ _ _
d o ._
Machinery (including electrical)
do
Transportation equipment (including motor vehicles)
mil. of dol
Other durable-goods industries _. _. -do _ _
24, 760
11, 963
2,068
1,288
2,933
24, 641
12, 142
2, 136
1,135
2,936
24, 845
12,170
2 446
1,120
3 233
26, 482
13, 353
2, 586
1,306
3,404
26, 116
12, 879
2, 385
1,194
3 179
27, 720
14, 331
2, 538
1,366
3, 531
27, 795
14, 033
2 477
1,562
3 734
27 044
13 571
2 339
1 445
3 656
28, 718
15, 145
2 611
1, 606
3 833
28 301
14, 936
2 532
1,525
4 165
3,173
2,501
3,350
2,585
2,871
2,500
3, 325
2,732
3,337
2,784
3, 966
2,930
3 225
3,035
3 334
2 797
3 844
3, 251
3 733
2,981
r 3 434
2 818
r 3 553
r 2 701
4 501
2 714
Nondurable-goods industries, totaldo ___
Industries with unfilled orders?
do
Industries without unfilled orders! . __ . do
12, 797
3,119
9,678
12, 499
2,922
9,577
12, 675
2 899
9,776
13, 129
3,040
10. 089
13, 237
3,008
10, 229
13, 389
3, 146
10, 243
13, 762
3 336
10, 426
13 473
3 382
10 091
13, 573
3 191
10 382
13, 365
2 958
10 407
13 372
3 036
10 336
r 13, 635
T 3 139
T
10 496
13, 702
3 118
10 584
Unfilled orders, end of month (unadj.), total
do
Durable-poods industries, total
do
Primary metal
do
Fabricated metal
do
Machinery (including electrical) .._ ._
do
Transportation equipment (including motor vehicles)
mil of dol
Other industries, including ordnance
do. _ _
46, 529
43, 790
3, 760
3,184
13, 363
19, 505
47, 174
44, 350
4 109
3,241
13, 446
19, 354
47, 471
44, 577
4 608
3,215
13, 503
18, 986
48, 231
45, 274
5 279
3,387
13, 531
18, 792
47, 978
45, 106
5 605
3,327
13, 550
18, 324
48, 361
45, 429
5 877
3,366
13, 489
18, 360
49, 321
46, 066
5 856
3 609
13, 736
18, 419
50, 777
47 299
fi' 297
3 760
14 339
18,311
51, 809
48 385
6 633
3 861
14 705
18, 360
52, 957
49 649
6 686
3 942
15 199
19, 137
53, 340
50 054
6 619
3 934
15 504
19 484
r
53, 774
r 50 357
55, 524
52 165
7 086
4 197
16 227
20, 621
Nondurable-goods industries, total
Industries with unfilled orders 9
Industries without unfilled orders'!
__
__
T
r
3, 434
2 903
14 152
3' 309
10 843
r
^ 3 726
T 2 593
4 501
2 470
13 700
r 3 296
13 212
2 900
10 312
r 10 4Q4
r 27 466 r 98
' 14 094 T 14
2 373 T o
1 540 r I
3 929 r 4
315
680
751
5f,q
006
r (•) 842
r
r
28, 702
15 490
2 698
1 560
4 261
r 3 955
15 713
19, 577
29
15
2
1
4
300
598
594
683
106
3,978
4,200
4, 265
4, 285
4,300
4, 337
4,446
4 592
4 826
4, 685
4 513
T
4 260
4, 034
..do .
2,739
2,824
2,894
2,957
2,872
2,932
3,255
3 478
3 424
3,308
3 °86
r 3 417
3,359
. number
11, 981
13, 181
11, 369
13,417
11, 756
12, 029
12, 605
10, 893
10, 983
11,024
10 698
10, 157
11, 527
number
917
939
877
1,038
903
955
914
861
888
822
919
945
908
do
do
do
do
do
72
130
204
413
98
87
87
195
456
114
60
113
188
412
104
66
108
225
520
119
66
106
154
484
93
80
121
168
499
87
75
114
200
446
79
68
102
179
423
89
59
134
158
430
107
75
114
168
366
99
81
136
180
437
85
70
133
196
462
84
73
136
191
404
104
40, 103
37, 872
42 056
41, 209
35, 968
34, 714
36 667
32 543
36 O9^
33 120
34 777
42 783
41 643
1,857
5,926
17, 526
8,509
6,285
3, 154
9,044
11, 636
9,647
4,391
2, 244
7,624
18, 922
8,928
4,338
2,916
4,468
16, 921
11,972
4,932
2,229
6,450
12, 653
10, 765
3,871
'
1,998
4,885
14, 093
10, 874
2,864
5 259
4,702
13, 888
9 564
3,254
1 502
6 289
11, 865
8 605
4 282
'
1 987
9 663
10 102
10 024
4 252
2 666
4' 256
10 798
8 253
1 147
3 655
8 713
lo' 407
9 586
2 416
1 239
9 744
14 106
1° 626
5 068
1
7
11
10
10
Nondurable-goods industries, total 9
BUSINESS INCORPORATIONS^ 1
New incorporations (48 States)
INDUSTRIAL AND COMMERCIAL FAILUREScf
Failures, total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
-
Liabilities (current), total
Commercial service
Construction
Manufacturing and mining
Retail trade
_
Wholesale trade
thous. of dol
___
...
do
do
do _
do
___do_
106
341
554
775
867
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products.
- _ 1910-14—100
239
243
244
243
247
244
243
237
233
235
230
225
223
226
do
do
d o
do
do
243
221
276
202
939
247
257
275
204
241
244
258
268
203
240
243
262
269
198
939
252
270
270
197
236
255
308
955
200
940
244
230
266
196
232
238
993
271
190
2^2
298
211
277
178
214
229
230
285
174
217
224
227
°31
264
170
°21
93 1
278
167
220
224
231
274
164
2°0
244
259
171
220
do
do
do
do
218
279
182
430
216
274
192
425
203
270
198
436
204
264
200
437
216
261
297
437
209
259
305
436
239
256
213
435
235
257
170
435
213
245
141
437
210
225
129
497
188
227
130
143
193
228
143
438
207
239
144
455
225
235
161
452
do
do
do
do
do
236
264
253
155
284
240
258
263
163
284
245
255
264
190
285
243
248
260
199
281
242
241
269
185
274
234
236
260
175
953
242
235
276
176
251
237
949
261
178
247
237
249
951
191
240
240
257
250
209
226
236
264
240
195
222
225
^67
216
195
219
264
273
253
264
271
256
265
273
256
265
274
254
263
274
251
263
274
250
262
274
°48
260
273
247
259
272
246
261
274
246
259
273
244
T 273
243
259
272
246
283
283
284
284
282
°82
281
279
279
280
279
r 278
281
Sfi
Parity ratio0
do. .
86
84
84
87
86
86
87
86
r
Revised.
9 Includes textiles, leather, paper, and printing and publishing industries; unfilled orders for other nondurable-goods industries are zero.
*t For these industries (food, beverages, tobacco, apparel, petroleum, chemicals, and rubber), sales are considered equal to new orders.
cf Data are from Dun and Bradstreet, Inc.
§ Includes sweetpotatoes and dry edible beans.
© Ratio of prices received to prices paid (including interest, taxes, and wage rates).
84
82
81
80
80
Crops. _
_.
_
--_-_
Commercial vegetables, fresh market.
Cotton
_ _ _ _ _ _
Feed grains and hay
Food grains
Fruit
Oil-bearing crops
Potatoes!
Tobacco
Livestock and products
Dairy products
Meat animals
Poultry and eggs.
__ _ . _
Wool
_
Prices paid:
All commodities and services.-,
_
do
Familv living items. _ _ _ _ _ _ _ _ _
do
Production items
do
All commodities and services, interest, taxes, and
wage rates-.
1910-14—100
261
272
250
279
r
219
9«fC
201
°04
920
259
221
9 fin
207
2Q5
222
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
February 1956
1955
January
February
March
April
May
June
1956
July
DecemOctober NovemAugust September
ber
ber
COMMODITY PRICES—Continued
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 - _ _ . _ _
- _ _ do .
Pood 9
do
Dairy products
_ _ _ -_ ._
do
Fruits and vegetables
do
Meats, poultry, and
fish
do
Housing 9
do
Gas and electricity
do
Housefurnishings
do
Rent
do
Medical care
do
Personal care
_
__
do
Reading and recreation
do
Transportation
do
Other goods and services
do
WHOLESALE PRICEScf
U. S. Department of Labor indexes:
All commodities
1947-49 = 100
Farm products 9
do
Fruits and vegetables, fresh and dried
do
Grains
do _
Livestock and live poultrv
do
Foods, processed 9
do
Cereal and bakery products
do
Dairv products and ice cream
do
Fruits and vegetables, canned and frozen.. do
M^eats poultrv and
fish
do
Commodities other than farm products and
foods
1947-49 = 100-Chemicals and allied products 9
do
Chemicals, industrial ..- _ . - _ ...do. _ _
Drugs and Pharmaceuticals §
do
Fertilizer materials
_______
-_do -Prepa^ed paint
do
Fuel, power, and lighting materials 9 , _ do Coal
do
Electricity
do
Gas
- __ .--do --_
Petroleum and products
do
Furniture, other household durables 9
do
Appliances, household
do
Furniture, household
do
Radio receivers and phonographs _ .--do
Television receivers
do
Hides, skins, and leather products 9
do. -.
Footwear
do
Hides and skins _
_ _ . _ . _ do-..
Leather
do
Lumber and wood products _ _ .
- _ do _
Lumber
_ - _ _ _ _ _ do _ Machinery and motive products 9
- do
Agricultural machinery and equip
do
Construction machinery and equip
do
Electrical machinery and equipment
do
Motor vehicles
_.
__.do - _
Metals and metal products 9
do
Heating equipment
do
Iron and steel
- _ _ _ do
Nonferrous metals
- do
Nonmetallic minerals, structural 9
do
Clay products
do
Concrete products
do
Gypsum products
do
Pulp, paper, a n d allied products _ _ _ _ _ _ d o _ .
Paper
do
Rubber and products
do
Tires and tubes
_~ _ _ _ _ do
Textile products and apparel 9
_ __
do
Apparel
do
Cotton products
do
Silk products
do
Synthetic textiles
do
Wool products
- _
do
Tobacco mfs. and bottled beverages 9 - _ do Beverages, alcoholic
do
Cigarettes
_ _ ._ _ _
do
Miscellaneous
do
Toys, sporting goods
do
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
1947-49=100
Consumer prices
do
Retail food prices
do
1
207. 6
207.3
207.5
207.5 1
207. 9
207.7
207.8
208.6
208.1
208. 9
' 208. 7
•• 208. 2
114.3
104. 3
110.4
106. 8
108 4
102. 2
114.3
103. 4
110.8
106. 1
110.7
102. 5
119.6
109. 9
104. 8
129. 7
126. 8
113.5
106. 4
127 4
119.8
114.3
103. 2
110.8
105. 4
112,0
102. 3
119.6
110.3
104. 6
130. 0
127.0
113.5
106. 6
1?7 ?,
119.8
114.2
103. 1
111.2
104. 6
117.5
103. 0
119.5
110.3
104. 5
129.9
127. 3
113.7
106. 6
125 3
119.8
114. 2
103.3
111.1
104. 0
120.2
102. 1
119.4
110.9
103. 7
130. 3
127. 5
113.9
106. 5
1 25. 5
119.9
114.4
103. 2
111.3
104.1
119. 5
103.8
119.7
110.7
103.8
130. 4
127.6
114.7
106.2
125. 8
119.9
114.7
103.2
112. 1
104. 7
121.9
103. 7
119.9
110.8
103.6
130. 4
127.9
115.5
106. 3
125. 4
120.3
114.5
103.4
111.2
105. 7
111.3
102.9
120.0
110.8
103.2
130.5
120. 3
113. (5
106.6
127 3
119.9
114.3
103.3
110. 6
106. 4
110.6
102. 4
119 6
109 4
104. 6
129. 5
126. 5
113. 7
106.9
127 6
119.9
114.9
104.6
111.6
106.5
110.2
103.5
120.4
111.2
103.6
130.5
128.2
116.6
106. 7
125. 3
120.6
114.9
104. 6
110.8
107.5
108.5
100.9
120.8
111.2
104.4
130.8
128.7
117.0
106. 7
126.6
120.6
115.0
104. 7
109.8
107.8
109.0
97.1
120.9
111.5
104. 5
130. 9
129.8
117. 5
106.8
128.5
120.6
109. 5
89.9
90.9
92, 5
74.0
103.5
116.8
108 2
106. 0
85 2
110.1
92 5
105. 2
93.5
79.4
103.8
116.9
107.0
104. 6
87. 6
110.4
93. 1
103. 8
93. 1
80.7
103. 2
116.3
107. 2
104.4
86.9
110.0
92.1
104. 4
92. 2
79.9
110.5
94.2
120.9
91.0
84.0
102. 5
116. 8
106. 9
104. 7
86.0
109. 9
91.2
118.7
92.4
78.4
102. 1
118.3
104. 0
104.1
85.7
110.3
91,8
104. 7
90.3
83. 1
103.9
117. 6
104.6
104. 5
91.4
110.5
89.5
98.7
86.7
79.4
103.1
117.6
106. 0
104.6
88.5
110.9
111.7
89.3
102.1
81.4
75.5
111.6
86.8
92.9
82.4
71.8
100.2
114.8
105.0
107.4
81.6
111.2
84.1
102. 6
79.8
62.2
114.9
107.0
117.4
93. 6
59. 3
113.3
112 8
107. 5
105. 2
100. 7
110.2
110. 4
115.7
109. 4
112. 9
95.4
69.2
115.2
107. 1
117.3
93. 6
61.8
113.6
112.8
108. 5
105. 2
100. 7
113.0
111.7
115.5
108. 7
112.5
95. 4
69. 0
115.7
91.9
111. 6
49. 5
81.2
120. 3
120. 0
125. 8
121. 5
133. 2
126. 8
121. 7
130. 1
113. 9
135. 8
127.9
122.0
135. 8
116. 7
122. 1
115. 9
126. 9
132. 0
134.9
95.2
98.4
89 9
123.9
87.2
106.7
121.4
114.3
124.0
116.3
127. 5
115.7
107. 1
118.0
93.2
55 2
113. 5
114.8
107.4
102.3
97.8
113. 1
111.5
115. 1
107. 3
112.8
94. 7
68.8
93.2
111. 5
56. 9
83.6
122.4
122.9
126. 3
121. 5
134,1
126. 4
121. 9
132. 9
113. 6
136. 4
138. 3
122.3
136. 8
118.2
122.1
117.4
128.0
138. 3
142. 3
95.0
98.0
90.4
122.8
87,2
106. 0
121.6
114.7
124.0
94.0
113.2
115. 5
106. 8
117.6
93. 2
53. 2
113.1
314.8
107.0
100.4
97.8
111.0
111.5
115. 1
106. 5
113. 1
94.7
69.0
92.9
111.4
53. 3
85.0
123. 5
124.2
126. 7
121.5
134. 3
126, 5
122.0
132. 5
113. 5
135. 6
137. 8
123. 2
137.0
118.2
122.1
117.7
128.9
138.0
142.3
95. 0
98.0
90.3
123.2
86. 9
106,1
121. 6
114.7
124. 0
115.6
106. 8
117.8
93.0
53.8
111.0
114.8
106.8
100. 6
97.2
110.4
111.5
115. 2
106. 4
112.9
94. 7
68.8
92.9
111.4
55.7
83.8
123. 7
124.7
127.1
121. 5
134. 7
126. 5
122.0
132.6
113. 5
135.8
137.8
123.7
137.3
118. 3
122.1
118.3
129. 2
140.3
142.3
95.2
98.6
90.6
124.0
86.6
105.5
116.5
106. 0
118.2
92.8
55. 9
I 1 1.7
114.8
106.4
101.5
96.1
108.9
111.6
115. 5
106. 5
113.1
94.0
68.9
93.7
111.4
58.2
85.1
124.1
125.1
127.5
121. 5
134.7
126.7
122.0
136.7
113.6
143. 1
139.5
125. 3
141. 3
118. 3
122.1
119.0
130.7
143. 4
142.3
119.0
106.5
118.9
92.3
58.2
112.3
115.0
108.0
108.7
94.3
109.3
114.2
91. 8
111. 6
47.4
81. 5
120. 0
119.8
125. 7
121.2
132. 6
12fi. 8
121. 7
129. 8
114.3
135. 0
127. 6
121.8
135. 4
117. 4
122. 1
115.6
106. 8
117.5
93. 1
55, 4
J 13. 6
114.0
108. 5
105.1
99.5
116.6
111.7
115. 1
107. 2
112.7
94. 7
68.8
92.2
111. 5
50. 7
82.1
121.4
121.8
126. 1
121. 5
133.8
126. 4
121. 5
131. 9
113.6
136. 2
134. 3
121. 9
136. 5
118. 2
122, 1
116.8
128.0
138.0
.142. 3
121.6
114.7
124.0
91.3
113.2
1~!9 7
109 1
105.4
129 4
98.0
112.9
136. 8
139, 9
95. 2
98.2
90.2
124.1
87.3
106. 6
121.4
114.3
124.0
97.0
113.2
91.3
87.5
90.6
90.8
87.5
90.4
107. 1
117.4
93. 3
61 . 0
113.5
113.1
108.7
105. 2
100. 1
116.3
111.7
115.4
108. 5
112. 6
94. 7
68.8
92, 3
111.5
51.6
82.2
121.2
121.4
126. 1
121. 6
133. 8
126.7
121. 5
131. 5
113. 7
135. 8
133. 7
121.8
136. 1
117,0
122.1
116.6
1 28. 0
140. 6
142,4
95.2
98.2
90. 6
122.4
86, 7
106, 3
121.6
114.6
124.0
97.1
113. 1
90. 6
87.5 i
90.3 :
101.6
116.5
107.2
104.8
83.3
95.3
98.3
90.8
121.1
87.5
106. 1
121.6
114.7
124. 0
95. 6
113.2
90. 9 1
87.5 !
90.3
90.5
87. 6 •
89.9
91.0
87. 6 '
90.0 i
128.0
115. 8
106.3
125. 4
120.4
88.1
99.5
78.6
75.5
101.9
115. 1
107. 8
105. 0
86.3
117.5
101. 5
114.4
104.3
106.8
87.5
98.8
115.1
105.9
107.7
77.8
105. 9
118.1
92.4
54.6
112.1
114. 8
107.2
102.2
96.6
106.8
113.0
116.0
106.6
114.3
89.2
68. 9
118.5
106.0
118.2
92.4
55.8
112.0
114.8
108.0
108.1
95.5
107.8
114.0
116.4
106.2
115.2
89.4
69.3
93.8
111.4
58.9
85.0
125.1
126.4
128.5
122.4
138.2
127.7
122.0
139. 5
116.0
144.9
145.0
126.1
142.9
118.6
122.1
119.7
130.5
148.7
147.2
94.0
111.4
60.9
85.1
125.7
127.1
130.0
126.3
140. 5
130.6
122.0
141.9
117.2
145.0
154.2
126.4
143.9
119.8
122.1
120.5
131.0
151.7
147.2
116. 9
106.1
115.6
89.5
69.5
95.3
113.5
62.3
86.1
125.4
126.8
131.4
126.7
142.1
130.7
124.7
142.4
117. 3
145.7
153.9
126.8
144.3
120.2
122.1
122.8
131.2
147.8
147.2
95.3
98.6
91.0
126.8
86.8
105. 0
95.3
98.6
91.7
128.7
86.7
103.9
89.1
113. 2
121.6
114.7
124.0
90.8
113.1
121.7
114.7
124.0
89.8
113.4
95.4
98.6
92.5
126.8
86.7
103.0
121.7
114.7
124.0
90.3
113.6
95.4
98.7
92.8
123.7
86.1
102.8
121.7
114.7
124.0
91.5
113.8
119.4
106.6
119.3
92.3
57.6
112.3
115. 0
108.6
109.0
94.3
110.8
115.0
117.2
106. 3
116.4
89.8
69.5
96.4
115.4
60.2
87.7
125.0
126.4
132. 5
126.1
142.4
131.4
126.5
142.9
117.4
146.0
153.9
125.2
144. 5
120.2
122.1
123.2
131.7
150.6
151.8
95.6
99.0
'93.2
120.8
85.8
102.8
121.7
114.7
124.0
88.0
114.3
90.7
87.4
89.8
90.5
87.2
89.2
90.2
87.3
89.9
89.5
87.0
89.6
89.6
87.0
90.3
89.9
87.0
91.1
208.1
1
114.7
104.7
109.5
107.7
110.7
94.6
120. 8
111.5
103.4
131. 1
130. 2
117.9
106.8
127. 3
120. 6
111.3
83.4
102.8
82.7
59.3
98.2
115. 2
107.2
107. 8
75.3
119.7
106. 7
119.4
92.3
56. 6
112.3
115. 8
108. 9
109.4
94.3
110.8
115.6
117.4
106. 3
116. 5
90.0
69. 5
96. 7
115.4
61.1
88.4
125. 1
126. 4
132.8
126. 2
143. 0
131. 6
126. 7
143 9
117.4
147.1
155. 8
125.4
144.6
120.2
122 1
123. 6
133. 0
151. 0
151.8
95.6
99.1
93.7
120.6
84.9
102.8
121.7
114.7
124.0
88.7
114.9
2
2
2
89. 8
87 2
91. 3
r
Revised. l Index based on 1935-39 = 100 is 191.8. 2 Indexes based on 1935-39=100 are as follows: Measured by— wholesale prices, 47.0 (December); consumer prices, 52.1 (December);
retail food, 45.2 (December).
9 Includes data not shown separately, cf For actual wholesa e prices of individual commodities, see respective commodities. §Effective with the January 1955 index, cosmetics and
related products were transferred from drugs, etc., to the "other chemicals" subgroup.
SURVEY OF CURRENT BUSINESS
February 1956
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
S-7
1955
January
February
March
April
May
June
1956
July
August
Septem- October Novem- December
ber
ber
January
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY
mil. of dol._
3, 092
2,815
2,698
2, 989
3, 283
3, 606
3,881
4, 044
4,101
4,086
3,953
3, 617
3,177
2,849
Privato, total
do
Residen tial (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
2 263
1,258
1, 150
86
2 073
1, 122
1,030
71
2 002
1, 049
960
68
2 193
1. 185
1, 085
79
2 367
1,319
1, 19(
106
2 547
1, 430
1,270
133
2 730
1, 544
1, 380
133
2 829
1,590
1 430
127
2 858
1,587
1 435
2 844
1, 561
1 410
2 765
1, 508
1 360
2 632
1,422
1 280
2 410
1,283
1 160
2 126
1,078
975
552
184
192
93
348
543
186
189
92
302
548
187
198
95
297
558
186
207
103
333
563
184
214
114
357
592
184
236
131
378
633
190
259
141
396
668
199
277
148
407
686
205
286
150
421
714
213
303
137
420
719
218
305
112
415
717
225
296
94
388
683
226
269
83
351
654
228
249
83
303
829
351
88
214
176
742
342
78
155
167
696
320
77
150
149
796
349
82
190
175
916
361
98
270
187
1 059
374
106
375
204
1 151
382
120
430
219
1 215
1 243
380
129
500
234
1 242
387
122
480
226
1 188
353
134
485
216
985
318
115
355
197
767
287
106
200
174
723
290
97
165
171
3,429
2, 350
1,307
3,422
2,400
1 338
3. 453
2 438
1 348
3, 464
2 464
1 349
3, 525
2 525
1 391
3. 581
2 550
1 419
3, 565
2 545
1 420
3,566
2 ,578
1 435
3,568
2 591
1 433
3,573
2 599
1 422
3, 526
2 551
1 374
3, 518
2 517
1 345
3,489
2 486
1 326
3,457
2 439
1 983
539
124
366
554
123
368
582
122
371
604
121
374
624
120
376
629
119
374
621
117
374
641
116
373
658
115
373
679
114
372
683
371
680
111
370
669
110
369
667
110
369
1, 079
393
393
1 022
388
342
1 015
380
339
1 000
370
337
1 000
360
336
1 025
' 362
352
1 020
363
339
988
344
338
977
335
334
974
338
327
975
329
332
1 001
1 003
1 018
62, 394
1,829
617
1,212
56 285
1, 504
480
1, 024
58 456
1 581
472
1,109
75 533
2 135
677
1 458
79 184
2 322
676
1 646
75 896
2 185
675
1 510
75 141
2 255
757
1 498
73 130
2 272
64 144
1 895
61 135
1 863
54 856
1 797
50 551
1 921
1 511
1 346
1 312
1 269
1 190
4 227
42 768
565
4 284
41 861
534
5 799
51 925
759
6 135
51 989
706
6 107
51 736
726
6 217
57 218
843
6 715
64* 544
5 715
47* 886
' 681
49 837
50, 696
70, 031
690
52, 583
74, 545
744
67, 539
98, 806
9QO
70, 088
107, 850
1 070
66, 558
97, 248
1 Oil
65, 459
95, 481
951
62, 799
94, 491
959
979
174
1,234
248
1,803
273
2,301
342
2, 610
290
2, 887
382
383
76
355
55
462
113
660
204
621
158
r 227
263
260
295
264
307
260
291
290
336
253
286
New construction (unadjusted), total
Public, total
Nonresidential building
Military facilities
Highway _ _
Other types
___
do
___do
do
_ do _
do
New construction (seasonally adjusted), total
Private, total
_ _
__ _
Residential (nonfarm)
Nonresidential building, except farm and
utility
mil.
Farm construction
Public utility
Public, total
Nonresidential building
Highway
do
do
do
public
of dol
do_
do
do
do
do
119
119
116
372
133
510
297
110
H9
334
357
92
322
367
73
330
367
CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.):
Total projects
number
Total valuation^ _
mil. ofdoL
Public ownership
do
Private ownership
._
- _do_- -
Nonresidential buildings:
5,017
Projects
number
51,396
Floor area
thous of sq ft
701
Valuation
mil. of dol
Residential buildings:
Projects
number. . 55, 407
Floor area
thous. of sq. f t _ - 77, 300
762
Valuation
mil of do!
Public works:
1,514
Projects
number. _
273
Valuation
.
mil. of dol
Utilities:
456
Projects
... _ _ _ _
number
93
Valuation
mil. of doL _
761
549
57 673
2 035
' 621
1 414
c c^n
692
663
727
55, 514
82, 058
835
49, 211
72, 039
733
53, 033
76, 964
700
48, 346
73, 638
726
44, 302
70, 440
2 960
332
2,447
299
2,316
1,772
1,398
1 394
578
79
656
88
468
79
606
224
467
111
426
129
AAQ
296
332
245
280
294
320
253
290
281
301
257
296
271
277
259
278
253
258
250
256
249
246
260
252
244
243
270
252
244
233
273
1 526
1 369
1 693
5, 999
7,171
1 895
3' 345
1 931
i 8, 909
6,920
1 ^ 99Q
3 287
2 341
T 1 0
90.0
89 2
63.8
g
75.0
72 2
52.5
2 g
74.0
73 0
52.7
10
1 251 0 r 1 221 0
1 203 0
1 187 0
1 183 0
1,373
1,295
1 085
1 987
1 449
1 727
1 882
1 684
1 240
1 786
8, 691
2, 698
3, 639
2,354
7,134
2 600
2 769
1 765
7,289
2 134
3* 635
1 590
9. 504
2 021
3' 988
3 495
8, 470
2 855
2* 279
3 336
8, 7609
1 24
3' 305
4* 213
9, 292
950
3 966
4 376
5,787
944
9 237
2 606
9,346
288
5 321
3 737
5,798
490
2 246
3 062
89.9
87.9
64. 9
2.0
113.8
112.8
86.0
1.0
132. 0
130 5
95. 4
1.5
137. 6
135 1
97.3
2 5
134.8
131 4
96. 2
3 4
122.6
121 9
87.7
7
124.7
122 3
89.2
2 4
114.9
113 6
82.2
13
1, 370. 0
1,367.0
1, 350. 0
1 362 0
1,371 0
1 283 0
1 310 0
_ _
mil. of dol
1
1
1
NEW DWELLING UNITS
( (7. /S. Department of Labor)
New permanent nonfarm dwelling units started:
Unadjusted:
90.6
Total, privately and publicly owned- ._ thousands. .
87.6
89.9
Privately owned, total
___
do
87.3
In metropolitan areas
do
69.0
67.8
Publicly owned
do
.7
.3
Seasonally adjusted at annual rate:
Privately owned, total
_ . _ _ _ _. ..do... 1, 478. 0 1,416.0
Building construction authorized, all permit-issuing
places:
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 CONSTRUCTION COST INDEXES
Department of Commerce composite
1947-49 =100- _
Aberthaw (industrial building)
1914=100-.
American Appraisal Co., The:
Average, 30 cities
.
1913 = 100-Atlanta
.
- _ _ _do _
New York
do
San Francisco
.. - ... do St. Louis
_do
277.4
76.0
66.3
2.9
6.8
1.4
76.3
75.9
67.3
2.1
6.5
.3
78.8
76 8
67.9
2.5
6.3
2.1
115.6
114 7
100. 5
4.0
10.1
.9
119.3
118 5
107. 5
3.3
7.8
.8
120. 1
117 4
104. 4
3.2
9.8
2.8
115. 1
113 0
102.2
2.9
7.9
2.1
98.2
97 4
89.4
108 1
106 3
95.3
96 3
95 3
86.1
5 5
2.7
2.2
.8
8 3
18
122.5
396
122.7
122. 7
123. 0
396
123. 5
123.8
124. 6
397
125. 8
126.2
598
649
629
545
599
598
649
629
545
599
599
649
629
550
600
600
650
630
551
601
2.4
601
602
604
611
613
650
654
654
664
664
628
6%
697
629
641
553
556
568
573
601
601
604
605
601
r
2
Revised.
1 Data include some contracts awarded in prior months but not reported.
Revision for October 1954 (thous.): Total, 94.0.
§ Data for December 1954 and March, June, September, and December 1955 are for 5 weeks; other months, 4 weeks,
cf Data for December 1954 and March, June, August, and November 1955 are for 5 weeks; other months, 4 weeks.
277
368
Engineering construction:
Contract awards (ENR)§
Highway concrete pavement contract awards:d"
Total
thous. of sq. yd_ _
Airports
do
Roads
do
Streets and alleys
do
aop.
709
S93
r
214
r
r
r
T
4
730
A(\ A K Q
211
'235
* 258
••275
239
260
286
527
4Q 1 ^R
Value of contract awards (F. R. indexes):
Total, unadjusted
1947-49=100
Residential, unadjusted.
_ __ _do Total, adjusted
do
Residential, adjusted-.
do
T
r
551
1 0^9
2 413
0
r
KOA
105. 8
r 104 8
T
75.8
280
70 0
69 6
62.8
7 0
10
89 4
87 7
78.7
2.1
6 9
17
126.5
126.7
126.8
614
665
642
575
606
616
665
642
577
618
666
643
578
399
AQ A9A
71 1
359
"
124
qni
1 593
1 9Q9
2.2
4 6
.4
127. 0
401
fin?
f\08
619
666
643
580
RHQ
622
667
644
582
f\1Q
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
February 1!)50
1955
January
February
March
April
May
June
1956
July
August
Septem- October
ber
Novem- December
ber
January
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES— Continued
Associated General Contractors (all types) .. 1913 =100.E. H. Boeckh and Assoeiates:§
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:c?
Building
.
1947-49 = 100.Construction
do
Bu. of Public Roads — Highway construction:
Composite, standard mile
1946=100.CONSTRUCTION
432
432
432
432
434
435
439
443
443
441
444
446
446
258.5
253. 8
257. 1
258.8
254.6
257.7
258.8
254. 7
257.9
259.0
254. 9
258.6
260.7
256.2
260.0
261.8
257.3
261.3
263.8
259. 5
263. 1
266.1
262. 0
264.3
266.7
262.6
264.9
267.8
263.6
265.7
268.5
264.4
266.2
269.1
265.1
266.7
270.1
266.1
267 3
266. 2
262.2
255. 7
256. 4
245.9
266. 4
262. 5
256.2
257. 4
246.0
266.5
262.6
256.3
257. 7
246.1
266. 7
262.9
256. 8
258. 8
246.3
268. 5
264. 5
258. 1
260.3
247.4
269.7
265. 6
259. 6
261. 8
248.3
271. 5
267.3
261.3
263.8
249.8
274.0
271.9
262.3
264.5
257.5
274.6
272.4
263.2
264.8
257.8
275.7
273.3
264.0
265. 4
258. 5
276.3
273.8
264.6
266.4
259.0
276.8
274.4
265.2
266.9
259.4
278.1
275.3
265.7
267 3
260.8
257.7
251. 7
258.4
252.4
258. 6
252. 6
259. 3
253. 5
260.7
254.9
262. 3
256. 4
263. 9
258.3
264.9
259.1
265.6
259. 6
266. 3
260. 3
266.8
260.8
267.4
261.3
268.0
261.9
135.4
142.1
135.9
142.4
135.9
142.5
136.2
142.9
136.8
144.2
137.4
144.8
138.3
145.7
141.4
148.4
141.7
148. 5
141.4
148.8
141.8
148.6
141.6
148.6
142.1
149.3
128.1
127.6
125.5
129. 4
452
142.9
150.2
131.1
MATERIALS
Output of selected construction materials, index :f
Iron and steel products
1947-49—100-Lumber and wood products
do
97.6
124.9
r
145. 0
135.3
134.9
124.6
274, 376
589, 859
273, 493
717, 334
275, 334
755, 018
261, 480
620, 173
104.5
117.7
104.5
116.7
130.1
136.4
133.5
129. 9
136.2
136.6
154.2
142.3
127.6
119.6
144.1
146.0
149.5
139.7
252, 393
622, 155
226, 434
566,118
269, 267
531, 647
243, 346
514, 998
229, 813
548, 510
269, 487
552, 928
230, 031
520, 545
279, 312
617, 282
REAL ESTATE
Home mortgages insured or guaranteed by—
Fed. Hous. Adm.: Face amount
thous. of doL 201,289
555, 699
Vet Adm • Face amount
do
Federal Home Loan Banks, outstanding advances to
867
member institutions
mil of dol
New mortgage loans of all savings and loan associa853
tions, estimated total
mil. of dol_
By purpose of loan:
295
Home construction
do
369
Home purchase
do
189
All other purposes
do_ __
New nonfarm mortgages recorded ($20,000 and under),
2,267
estimated total
mil. of dol.
2,224
Nonfarm foreclosures
number
83, 881
Fire losses
thous. of dol
717
688
702
754
821
1,017
1,061
1,187
1,275
1,344
1, 364
1,417
744
775
1,026
1,016
1,069
1,157
1, 054
1,171
1,012
880
782
746
252
326
166
265
340
171
386
427
212
380
430
205
395
470
205
418
536
204
371
494
188
416
553
201
342
503
167
303
426
152
261
385
137
253
351
142
2,024
2,305
75, 265
1,958
2,189
85, 046
2, 455
2,595
88, 197
2,357
2,447
78, 632
2,483
2,457
71, 789
2,636
2, 861
70, 828
2,463
2,209
61, 614
2,697
2,254
71, 103
2,522
2,294
65, 970
2,387
2,316
2,188
58, 778
68, 784
89, 212
DOMESTIC TRADE
ADVERTISING
Printers' Ink advertising index, adjusted:
Combined index
1947-49 = 100
Business papers
do
IVTagazines
do
Newspapers
do
Outdoor
do
Radio (network)
do
Television (network)
1950-52=100
Tide advertising index, unadjusted
1947-49 = 100..
Radio advertising:
Cost of facilities total
Automotive incl accessories
Drugs and toiletries
Foods soft drinks confectionery
Soaps cleansers etc
Smoking materials
All other
thous of dol
do
do
do
do
do
do
Television advertising:
Cost of facilities total
Automotive, including accessories
Dru°'s and toiletries
Foods, soft drinks, confectionery
Soaps cleansers etc
Smoking materials
All other
do
do
do
do
do
do
do ..
Magazine advertising:
Cost total
do
Apparel and accessories,--do
Automotive, incl accessories
do
Building materials
do
Drugs and toiletries
do
Foods, soft drinks, confectionery _ _ . . _ do Beer wine liquors
do
Household equipment and supplios
Household furnishings
Industrial materials
Soaps cleansers etc
Smoking materials
All other
do
do
do
do
do
do
162
«53
°304
182
165
137
182
144
60
294
181
164
140
182
132
61
304
182
167
141
186
152
57
300
179
168
145
178
149
54
301
186
165
148
188
156
54
311
191
172
145
201
146
56
324
191
164
143
190
151
58
371
196
179
150
203
142
55
343
193
184
150
191
171
50
338
••186
187
141
190
151
46
325
166
159
204
156
46
338
149.6
140.9
158.6
191.0
195.3
202.8
191.5
150.6
156.6
191.5
217.0
219.2
11,187
857
2, 4Q2
2,481
1,254
1,023
3,081
10, 786
822
2,574
2,353
1,064
957
3,014
10,215
834
2,341
2,343
1,023
883
2,790
11,239
875
2,644
2,532
1,168
965
3,056
9,924
775
2,342
2,142
1,046
928
2,690
10, 106
845
2,330
2,231
1,095
931
2,674
9,434
928
2,129
2, 125
1,014
821
2,416
8,273
829
1, 636
1, 750
712
783
2, 563
0)
33, 560
3,388
7, 357
7, 453
3, 296
3,929
8,139
33, 446
3,506
7,727
7,735
3,453
3,388
7, 636
31,279
3,239
6, 835
7, 339
3, 333
3,262
7,271
34, 574
3,725
7,657
7,991
3,728
3,601
7,873
32, 702
3,387
7,440
7,374
3,592
3,348
7,562
33, 450
3,773
7,565
7,182
3,762
3,714
7,456
31, 724
3,511
7,771
7,185
3,531
3,468
6,258
29, 997
3,670
8,762
6, 069
3, 416
3,354
4,725
30, 345
3,358
8, 061
5,947
3,849
3, 203
5,328
33, 045
3, 620
8,043
6,922
4,134
3, 499
6,826
38, 119
4,936
9, 363
7,869
4,326
3,652
7,973
38, 897
4, 935
8, 850
8,131
4,422
3, 764
8,794
45. 077
3, 340
3,714
859
4, 361
6,472
4, 568
34, 648
1,856
4,177
1,394
3,289
5,234
1, 507
47, 479
3,025
4,523
2,303
4,780
7, 390
2,220
56, 966
4,852
5,308
3,447
4,995
7,916
2,472
67, 133
5, 267
7,112
4,179
5,738
7,625
3,108
66, 611
5,492
6,621
3, 906
5,867
7,352
3,225
53, 083
2, 993
' 5,815
3,153
5,400
7,026
2,720
37, 329
918
4,540
1,690
4,221
6, 388
2,084
40, 836
4,197
3,762
1,699
3,744
6,139
1,888
58, 673
7,515
3,661
3,848
4,845
7,347
2, 354
71, 084
6,193
5,926
3,610
6,241
9,223
3,555
68, 295
4,876
7, 504
2,258
6, 064
8, 533
4,148
2,807
1,510
3,036
294
1,492
12, 622
913
1, 291
2,313
506
1,055
11,113
1, 913
1, 726
3,089
1,073
1,350
14, 088
2,958
2, 657
3,675
971
1, 486
16, 229
4, 999
3,561
4,567
791
1,362
18, 822
5,131
3,842
4, 983
1,098
1,622
17, 472
4,012
1,860
4,208
695
1,458
13, 742
1,748
715
3,200
492
1,272
10, 063
1,670
1,496
3, 451
540
1,369
10, 881
3.674
2', 493
4,469
836
1,524
16, 108
4,901
4,309
5,680
946
1,548
18, 954
4,790
3, 516
4,943
778
1, 362
19, 523
174
a 161
141
« 160
r
r
197
3,402
4,794
4,548
5,032
4,927
3,395
4,205
4,348
3,771
5, 570
4,689
3,283
Linage, total
thous. of lines..
7
r
Revised.
1 Data are no longer available.
° R evisions fc r Novem ber 1954: ]Business r)apers, 16" ; newspa]Ders, 172; i •adio (net work), 61 televisioia (networ k), 285
1
§ Copyrighted data; see last paragraph of headnote, T1
p. SS-l.
G? Data reported at the beginning of each month are shown here for the previous month.
f Revised series.
163. 0
3,669
4,114
SURVEY OF CURRENT BUSINESS
February 1956
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
S-9
1955
December
January
February
March
April
May
June
1956
July
August
Septem- October Novem- December
ber
ber
January
DOMESTIC TRADE—Continued
ADVERTISING— Continued
Newspaper advertising:
Linage, total (52 cities)
Classified
Displav, total
\utomotive
Financial-.
General
RetPil
_ ___
thous. of lines
229, 480
___
do __ 45, 160
-
__do
184,320
do
8 074
_ do __
3,218
do
26 038
146, 991
do
- ~
196 204
50 842
194 395
48, 519
145, 362 145 876
9 980
11 040
4' 51 6
2 708
24 785
27 748
106 081 104 379
242 549
57, 756
243 834
59, 996
260 381
64, 921
243 718
61, 286
212 279
60,911
219, 750
63, 121
246 154
62, 714
273, 073
65, 684
268, 516
58, 567
242 542
50, 144
184,
15
3
34
131
183,
17
3
33
130
195.
18
3
36
136
182,
19
3
34
125
151
15
3
24
107
156,
15
2
23
114
183, 440
16 054
3 007
30 849
133 530
207, 390
19 797
3, 678
39 778
144, 137
209,
20
3
38
147,
192, 398
12 568
3, 421
27 128
149, 281
793
292
530
414
557
838
079
382
243
135
460
499
278
696
986
432
541
203
278
409
368
226
772
968
402
629
914
657
800
259
949
045
440
514
950
PERSONAL CONSUMPTION EXPENDITURES
Seasonally adjusted quarterly totals at annual rates:
Goods and services, total
.__
_ _ bil. ofdoL
241.0
245 8
250.5
255 7
257.2
do
do
do
30 4
13.4
12 9
34 4
16 4
13 9
35 1
16 6
14 2
36 9
18 0
14 7
34 8
16.0
14 3
Nondurable goods, total 9 -do
Clothing and shoes _
- _ _ _ _ _ _ _ _ do
Food and alcoholic beverages
- _ .-do
Gasoline and oil
_ _
_
do
122 5
20.0
74.4
7.4
122 4
19 8
74.0
7 5
125 3
20 5
75.9
7 7
__do
do_ __
do __
do
88.1
13.0
30.2
7.3
89 0
13 1
30 6
74
90
13
31
7
mil. of doL.
17, 872
13,279
12,762
14,704
15,622
15,468
15,734
15, 398
15, 622
15,905
15, 824
15, 894
i- 19, 268
5,614
2,824
2. 636
187
4 482
2 645
2,532
113
4 503
2 707
2, 591
116
5 430
3 305
3,170
135
5,704
3 431
3, 271
159
5 845
3 409
3. 252
157
6 125
?> 536
3.' 355
180
5 720
3 271
3,080
191
5 980
3 435
3. 252
182
5 900
3 367
3, 201
167
5,564
2 964
2,786
1/7
5 539
3 039
2,866
172
6, 186
3 118
2,910
208
1,025
600
425
698
410
288
682
405
277
761
456
305
757
466
292
809
510
299
847
522
325
825
492
333
854
514
340
822
490
331
909
562
348
927
584
343
916
597
319
663
493
170
639
480
160
795
599
196
900
672
228
998
752
246
1 040
798
242
973
735
238
1 032
795
237
1 037
786
251
1 047
788
259
958
715
244
947
630
317
do
do
do
do
do
do
12 258
1,448
354
566
313
215
8 797
'693
149
284
136
125
8? 260
602
130
247
120
106
9 274
*796
155
328
167
146
9 917
986
194
384
199
209
9 (523
878
184
352
166
177
9? 608
868
197
326
167
178
9 678
756
160
287
156
153
9 642
740
144
281
165
150
10 005
910
166
342
206
197
10 260
974
193
374
227
180
10 355
988
219
382
222
165
13 083
r i 598
402
621
353
222
do
do
do
do
do
530
1,113
3,920
3 304
1,008
420
1 013
3 398
2 868
949
394
950
3,253
2 742
873
409
1 026
3,527
2 983
944
416
1 080
3,689
3 127
988
419
1 136
3 514
2 950
1 046
425
1 168
3 591
3 025
1 066
434
1 274
3 761
3 198
l' 117
432
1 282
3 617
3' 055
l' 108
425
1 220
3 766
3 205
1 049
437
1 204
3 705
3 146
1 083
432
1 126
3* 648
3 078
l' 085
r 590
1 182
4 168
3 542
1 104
do
do
do _ _
do
do _ _
do
2, 850
1,555
173
549
574
458
1 244
676
83
186
299
248
1,171
611
85
190
284
240
1,464
796
107
219
342
256
1,650
897
94
278
381
266
1 584
866
99
243
376
268
1 565
852
102
248
363
266
1 412
745
82
• 244
342
289
1 562
833
111
255
364
287
1 674
920
112
266
377
302
1 807
993
116
282
416
312
1 956
1,076
158
291
432
319
3 010
1,617
183
595
616
493
Durable goods, total 9
_
Automobiles and parts-.. - Furniture and household equipment -
Services, total 9
-Household operation,
Housing
_
Transportation. .__ _
0
4
5
7
128 8
21.2
78.3
7 9
91 8
13.7
31 4
7.4
93.6
14.2
31.9
7.5
127
20
77
7
2
4
0
4
RETAIL TRADE
All retail stores:
Estimated sales (unadjusted), total
Durable-goods stores 9 - -Automotive group
Motor-vehicle, other automotive dealers
Tire, battery, accessory dealers
do ._
do
do __
do
Furniture and appliance group _ ___ . d o
Furniture, homefurnishings stores _ _ _ __do
Household-appliance, radio stores
do
Lumber, building, hardware group
_-do
Lumber, building-materials dealers ._ _ _ d o _ _ _
Hardware stores
.
__. do
Nondurable-goods stores 9
\pparel group
Men's and boys' wear stores
Women's apparel, accessory stores
Familv and other apparel stores
Shoe stores
Drug and proprietary stores
Eating and drinking places
Food group
_
Grocery stores
Gasoline service stations
_
_
General-merchandise group
_ _ _ _ _ _
Department stores, excl. mail-order cf
Mail-order (catalog sales) _
.__
Variety stores
Other general-merchandise stores _ _ _ Liquor stores
Estimated sales (adjusted), total
_____
do
r
14 864
14, 765
15 060
15, 251
15 368
15 345
15 484
15 662
15 840
15 777
15 808
15 795
5 320
3,054
2,904
150
5 143
2,844
2,700
143
5 209
2,990
2,841
149
5 458
3,169
3,020
149
5 522
3,202
3,044
158
5 507
3,108
2,955
153
5 570
3', 171
3,011
160
5 640
3,148
2,963
184
5 763
3,363
3,192
171
5 840
3 384
3,214
171
5 764
3' 280
3,107
173
5 689
3 261
3,090
171
5 677
3? 233
3,068
165
Furniture arid appliance group. _ .. _ do _
Furniture, homefurnishings stores
_.do . _ _
Household -appliance, radio stores
do
766
475
290
805
488
317
810
496
314
836
496
340
837
504
334
826
498
329
823
503
320
887
536
352
827
492
336
826
497
329
849
517
332
838
525
313
873
546
327
Lumber, building, hardware group
Lumber, building-materials dealers
Hardware stores.- _ - _ . . _
909
668
241
879
647
232
836
623
213
863
645
219
890
661
229
955
719
236
938
707
231
923
684
239
916
684
232
950
705
245
963
725
238
935
710
225
929
689
240
9,803
912
188
374
177
173
9,722
889
184
356
180
169
9 556
870
188
338
183
161
9,602
867
183
334
193
157
9, 729
889
194
342
183
169
9 860
905
197
350
188
170
9,775
878
196
338
180
164
9 844
905
193
353
190
168
9 900
892
194
339
186
173
10 000
895
183
346
192
173
10 013
908
183
355
201
169
10 119
916
191
354
200
172
10 118
912
193
372
189
159
413
1, 070
3 657
3, 103
974
425
1,092
3 560
3 007
1,023
412
1,085
3 577
3 010
998
418
1,083
3 602
3 053
1,007
427
1, 141
3 525
2 980
1,023
428
1, 126
3 636
3 069
1 026
431
1, 140
3 635
3 063
1,030
439
1, 158
3 561
3 004
1, 034
442
1 165
3 683
3 114
1 026
449
1 167
3 696
3 133
1 033
447
1 159
3 686
3 121
1 042
447
1 164
3 728
3 164
1 078
459
1 158
3 726
3 176
1 083
Drug and proprietary stores
Eating and drinking places _ _ _ _ _ _ _
Food group
Grocery stores
Gasoline service stations
__ - __
do
do
do
do
do _
1,654
General-merchandise group
do
1,669
1,584
1,677
1,676
1,615
1,723
1,630
1,671
1, 693
1,672
1,700
1,711
Department stores, excl. mail-order
do
904
902
912
849
861
889
958
877
901
923
914
913
926
104
Mail-order (catalog sales) _ _
do _ 104
112
107
106
112
113
111
109
115
110
117
110
285
254
276
Variety stores
do
269
268
271
258
276
268
282
273
286
290
374
393
404
Other general-merchandise stores.- .
do
384
377
377
377
378
381
378
384
370
385
284
294
273
292
277
277
290
290
Liquor stores
do
303
306
307
300
308
f
Revised.
i Advance estimate.
9 Includes data not shown separately.
cfCorrcction: 1951 monthly average for combined department-store and mail-order sales (old series) shown in the 1955 edition of BUSINESS STATISTICS should read $927,000,000.
1
2 772
1
704
459
15, 123
Nondurable-goods stores 9
do
Apparel group
do
Men's and boys' wear stores _. _ . . .. do
Women's apparel, accessorv stores-- _. do. _
Familv and other apparel stores
_-do
Shoe stores
do
13, 948
' I 163
Durable-goods stores 9
do
Automotive group _
- do
Motor-vehicle, other automotive dealers, .do
Tire, battery, accessory dealers ___ . . . do _ _ _
do
_..do
-do
1
771
i 714
i
i
i
i
i
i
3
2
i
440
057
478
996
021
i i 278
1
695
SURVEY OF CURRENT BUSINESS
S-10
1954
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of DecemBUSINESS STATISTICS
ber
February
1955
January
February
March
April
May
June
1056
1
July
August
Septem- October Novem- December
ber
ber
JanuJt
t
ary
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores— Continued
Estimated inventories:
Unadjusted, total
Durable-Roods stores
Nondurable-goods stores
mil of dol
- . _ do _ _
do
.
Adjusted, total
do
Durable-goods stores
. __ .. ._ do .
Automotive group
do
Furniture and appliance group- _
do _
Lumber, building, hardware group
do
Nondurable-goods stores Apparel group
._
Food group
General-merchandise group
do
do _
do
do
Firms with 11 or more stores:
Estimated sales (unadjusted), total 9
20, 670
9,240
11, 430
20, 970
9,700
11, 270
22, 010
10, 270
11, 740
23, 520
10, 950
12, 570
23,5
23, 570
11,2
11, 280
12,2290
12,
23,390
11, 240
12. 150
22, 840
10, 920
11, 920
22, 730
10, 850
11, 880
23, 080
10, 760
12, 320
23, 300
10, 390
12,910
23, 890 '24, 780
10, 390
10, 930
13,500 r 13, 850
22, 420
10. 410
12, 010
22, 090
10, 060
3, 430
1,900
2,410
22, 210
10, 160
3,650
1,850
2,330
22, 360
10, 330
3,770
1,890
2. 310
22, 590
10. 450
3, 900
1,890
2,290
22, 760
22,7
10,5
10, 540
3,9
3,960
1,9
1,910
2,2
2, 290
23, 000
10, 750
4, 130
1,920
2. 310
23, 190
10, 780
4,100
1, 950
2, 330
23, 370
10, 840
4,160
1,960
2, 350
23, 350
10, 850
4,150
1.960
2, 350
23, 230
10, 720
3, 970
1,970
2,380
23, 290 r 23, 590
10, 720 r 11, 000
3, 990 '4,250
1,980
1, 960
2,380
2, 360
23, 910
11, 240
4,470
1, 970
2, 380
12, 030
2,570
2,310
3,920
12, 050
2,650
2,380
3,830
12, 030
2,710
2, 350
3,820
12, 140
2,770
2,310
3,870
12,2
12, 220
2,800
2,8
2,3
2,380
3,8
3,830
12, 250
2,740
2,420
3,860
12, 410
2,740
2, 450
3, 990
12, 530
2,770
2,500
4,020
12, 500
2, 730
2,510
4,040
12, 510
2,760
2,480
4,050
12, 670
12, 570 r 12, 590
2,720
2,780
2,760
2. 570
2,540
2,570
4,050 ' 4, 080 4,170
3,718
2,316
2, 255
2.632
2.9
2.906
2,721
2, 778
2,729
2, 713
2,896
2, 949
2,994
4,029
Apparel group 9
Men's and boys' wear stores
Women's apparel, accessory stores
Shoe stores _.
do
...do __.
do
do
296
32
119
86
126
12
48
41
113
10
44
37
174
14
67
56
2212
17
81
79
178
15
72
62
176
16
66
64
146
11
60
54
143
9
61
50
185
12
69
68
196
17
76
62
201
20
78
59
316
33
128
91
Dru? and proprietary stores
Eating and drinking places
Furniture, homefurnishings stores _ _
do..
do
do
92
58
32
60
53
23
57
.50
24
60
56
32
64
56
26
62
58
31
62
60
28
65
62
27
62
63
30
63
62
27
65
63
33
63
60
35
99
63
33
1, 360
570
565
267
536
240
687
327
8
807
3
389
760
377
774
378
706
346
781
369
827
404
874
425
938
428
1,470
622
203
425
1,288
58
74
80
140
1,083
50
42
73
144
1,071
54
42
93
170
1,166
61
49
116
1
2215
1,253
1,2
68
57
105
186
1. 135
75
56
110
190
1,164
80
63
103
181
1, 212
77
69
117
192
1,121
84
64
120
200
1,225
81
57
130
212
1,200
78
59
141
224
1, 175
70
58
221
456
1,417
58
85
' 2, 898
2, 916
do
General-merchandise group 9 .. ...
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
_ _ _ d o ___
2,798
2, 754
2. 717
2,778
2,7
2,774
2,825
2,784
2,809
2,836
2, 875
2,820
Apparel group 9
do
Men's and boys' wear stores
do
Women's apparel, accessory stores... _ _ d o
Shoe stores
do
Drug and proprietary stores
do
Eating and drinking places
do
Furniture, homefurnishings stores
do
188
18
73
62
66
57
27
181
15
69
62
63
56
31
169
15
66
56
63
57
30
178
15
68
61
63
57
30
1
175
15
70
60
66
57
28
181
16
71
61
64
57
28
172
15
67
57
64
59
28
179
15
72
60
66
59
30
177
15
70
59
64
60
29
181
15
70
61
66
60
28
182
16
72
60
65
60
30
189
16
73
64
66
62
29
185
16
74
60
70
62
28
General-merchandise group 9
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
820
385
812
393
758
357
802
380
795
379
3
800
369
780
359
814
383
819
386
839
397
800
376
'833
'388
820
384
120
216
1,154
70
52
114
206
1,127
66
55
107
197
1,164
70
55
115
205
1,168
70
55
1
112
2205
1,170
1,1
69
58
117
211
1,193
73
55
113
206
1,184
70
55
121
205
1,161
71
60
119
210
1,191
71
58
126
215
1.203
69
60
120
205
1,185
68
59
121
216
1,208
69
59
120
208
1, 240
69
60
200
277
163
276
140
268
132
266
1
137
2
267
139
267
135
266
125
266
125
268
137
274
148
282
163
296
217
333
46
14
44
14
43
14
48
15
44
15
45
15
46
15
43
14
46
14
45
15
47
15
47
15
4fi
15
47
43
10
45
43
12
45
43
12
44
44
12
45
44
11
45
44
11
46
43
11
45
42
13
45
42
13
44
44
12
44
43
13
44
44
12
46
43
11
148
P212
Estimated sales (adjusted), total 9
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
do
Sales by type of payment:
Cash sales
. .percent of total sales. „
Charge account sales
_
do
Installment sales
do
1947-49=100..
'202
91
88
100
1
114
116
110
98
105
123
128
do
-. -. _ _ do_ -_
do
do
_ do
do
'236
106
90
88
87
110
94
107
82
84
83
103
89
129
90
98
93
120
104
141
1
108
1
114
1
112
1
136
1
123
134
111
116
110
133
119
121
107
112
104
120
113
122
82
96
96
123
111
129
86
103
104
129
117
136
120
123
116
131
127
154
115
126
125
146
131
165
141
' 147
147
155
142
p 25f>
P 206
p203
p 205
p241
p 212
81
82
83
91
89
93
88
93
101
111
101
97
1
108
99
1
109
1
125
1118
1
112
108
101
114
129
120
116
95
100
107
118
106
113
89
77
90
107
102
107
102
82
92
112
109
118
119
111
124
138
122
123
126
116
125
140
135
126
'126
'210
80
85
85
91
92
97
145
p 179
v 194
v 213
*236
p 2(>7
p 217
116
119
112
115
1
119
117
114
124
118
121
122
122
p 122
' 136
137
114
116
111
140
124
134
109
109
108
129
114
133
107
114
107
134
120
1
142
1
108
1
119
1
116
1
142
1
126
137
111
117
113
134
120
136
107
114
108
132
118
152
114
122
124
145
136
143
107
115
114
139
124
140
112
118
116
131
127
148
114
120
120
138
125
142
116
' 121
Sales, unadjusted, total U. S.J
Atlanta
Boston
Chicago
Cleveland
Dallas
Kansas City
Minneapolis...
New York
Philadelphia
Richmond ...
St. Louis
San Francisco
_
. __
._
_.
_ __.
. .
.
_ _ do _
do
do
. _ do
do
do._ _
Sales, adjusted, total U. S.J __ . _
Atlanta
Boston
Chicago
Cleveland _
Dallas
Kansas City
_ _ _
_
.
do._
-
do _
do
do
_ _ _ . . _ do__.
do
. .do
200
r 189
191
228
'206
180
r
188
' 199
'232
194
no
112
110
136
120
139
159
164
149
118
136
124
*
p
p
p
v
p
P95
P 125
147
114
121
119
144
124
1
108
103
111
112
103
107
107
111
Minneapolis—
._ _ _ _ d o ___
107
112
109
r 110
P 11U
r
1
105
104
107
108
102
103
New York
do
108
101
106
108
P 110
109
110
1
' 114
114
121
111
115
115
108
Philadelphia
. do
113
114
120
P 122
120
121
1
136
129
128
123
' 129
134
122
134
126
Richmond _
_
do _
133
132
P 131
134
1
117
122
108
119
114
116
120
122
132
St. Louis
do—
123
p 125
124
120
1
123
122
118
120
118
118
125
118
'119
p 123
126
125
126
San Franciscodo—
r
Revised.
P Preliminary.
9 Includes data not shown separately.
t Data for 1946-55 have been revised to reflect current seasonal patterns and to allow for changes in the samples used in computing the unadjusted indexes. Revisionis beginning with 1946
for total United States appear on p. 24 of the October 1955 SURVEY; unpublished revisions for the districts are available upon request.
SURVEY OF CURRENT BUSINESS
February 1956
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
S-ll
1<)55
January
February
March
April
May
June
1958
July
DecemAugust SeptemOctober November
ber
ber
January
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
Department stores—Continued
Stocks, total U. S., end of month:J
Unadjusted
A d justed
1947-49=100.
do_. _
Mail-order and store sales:
Total sales, 2 companies
Montgomery Ward & Co
Sears, Roebuck & Co
110
125
110
123
117
123
127
124
129
124
127
123
121
127
119
127
126
129
135
129
145
129
148
'131
p 119
p 135
thous. of dol.
do
do__.
523,056
131, 875
391,181
266,312
53,456
212,856
242, 847
52, 271
190,576
319, 249
76, 420
242,829
376,049
88, 607
287, 442
370, 491
84, 767
285, 725
377,031
83, 922
293,109
347, 362
74,182
273,179
380,967
87,181
293, 786
391, 258
92, 071
299.187
414,465
102,795
311,670
431, 702
110,174
321, 527
570,391
146,155
424, 236
mil. of dol.
do
do.._
9,600
3,010
6,590
8,690
2,720
5, 970
9,140
3,220
5,920
9,320
3, 270
6,050
10,110
3,450
6,660
9,660
3,190
6,470
10, 540
3,570
6,970
10, 730
3, 640
7.090
' 10. 500 • 10, 600
3, 530
3. 5PO
' 6, 910 r 7,070
10,170
3,410
6,760
11,740 i 11,770 i 11,620 I 11,570
5,650 i 5,850 i 5.940 I 6,000
6,090 ! 5,920 i 5,680 \ 5,570
11,550
6,060
5,490
11,520 i 11,660
6,040 1 5,950
5,480
5,710
11,870
5,970
5.900
12.180
6,000
6. 180
r
286, 607
58, 523
228.084
WHOLESALE TRADE
Sales, estimated (unadj.), total
Durable-goods establishments
Nondurable-goods establishments
Inventories, estimated (unadj.), total
Durable-goods establishments
Nondurable-goods establishments
do..
do_
do_
11,560
5,460
6,100
8,450 I
2.800 !
5,650 i
9,700
3,270
6,430 j
12, 600
12, 620 12, 290
6. 060 ' 6.060 6,080
6, 540 ! r 6. 560
6,210
EMPLOYMENT AND POPULATION
POPULATION
Population, continental United States:
Total, incl. Armed Forces overseas.-
--thousands.. 163,699
163,930
164, 158
164, 367
164, 595
164, 799
165,023
165, 248
165, 495
165. 762
166,022
166, 280
166, 512
Noninstitutional population, estimated number 14
years of age and over, total©
thousands. - 116, 763
166, 738
EMPLOYMENT
116, 855
116, 901
117,051
117,130
117, 236
117,318
117,404
117, 517
117.634
117,749
117,864
117, 995
66,811
66, 700
66, 550
66, 840
67, 784
68, 256
69, 692
70, 429
70, 695
69, 853
70. 250
70. 164
69, 538
68, 691
63, 526
60, 688
5,325
55, 363
2,838
63, 497
60 150
5,297
54, 853
3,347
63, 321
59 938
5, 084
54, 854
3,383
63, 654
60 477
5, 692
54, 785
3,176
64, 647
61 685
6 215
55, 470
2 962
65 192
62 703
6 963
55, 740
2 489
66, 696
64 016
7, 681
56, 335
2 679
67 465
64 994
7 704
57, 291
2 471
67 726
65 488
7 536
57, 952
2 237
66 882
64 733
7 875
56, 858
2 149
67 092
65 161
7 905
57, 256
2 131
67 206
64 807
6 920
57, 887
2 398
66 592
64 165
5 884
58, 281
2 427
65 775
62 891
5 635
57, 256
2 885
do
49, 952
50 156
50 352
50 212
49 346
48 979
47 626
46 975
46 823
47 781
47 409
47 701
48 457
49 388
do
do
do
do.- .
49, 463
16 050
9,144
6,906
47, 741
15 925
9 113
6,812
47, 753
16 060
9 220
6,840
48, 212
16 201
9 323
6,878
48, 643
16 255
9' 418
6 837
48, 918
16 334
9' 501
6 833
49, 508
16 577
9 624
6. 953
49, 420
16 475
9 511
6 964
49, 858
16 807
9 578
7 229
50, 322
16 91'
9 645
7 270
50, 471 r 50, 629
16 999 r 17 049
9 762 •r 9' 867
1 237 r 7 182
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 bus lines
... .do _ _ .
Trucking and warehousing *
do
Telephone
do
Telegraph
__
__
.
__
do
Gas and electric utilities
do. --
747
93
43
212
741
94
43
211
737
94
40
210
739
95
38
208
739
97
37
205
742
97
34
208
760
99
37
211
749
90
35
209
754
93
35
208
758
100
34
9QQ
751
100
35
°09
296
104
2,426
3,996
1,187
123
748
694
42
555
294
100
2 237
3,927
1. 153
122
724
693
41
553
293
100
2 169
3, 937
1,152
121
732
696
41
553
296
102
2 255
3,966
1, 157
121
744
700
41
554
295
105
2 399
3, 939
1, 159
120
748
667
42
554
297
106
2 526
3,997
1,196
120
755
674
42
557
306
107
2 615
4, 081
1,224
118
760
715
42
565
308
108
2 701
4,113
1,240
112
762
727
42
571
309
109
2 746
4,137
1 246
113
773
731
42
572
305
110
9 748
4,152
1, 242
116
791
728
42
566
299
108
2 685
4,127
1 236
115
800
715
43
561
11,354
2,860
8,494
1,903
1, 494
767
10, 419
2 817
7 602
1,327
1,462
749
10, 309
2 806
7 503
1,269
1, 467
749
10, 408
2 813
7 595
1,305
1 471
755
10 549
2 804
1 745
1 372
1 478
763
10 534
2 801
7' 733
l'342
1 487
768
10 643
2 826
7 817
1 349
1 503
777
10 633
2 858
7* 775
1 313
l' 506
785
2, 136
5,588
463
327
155
7,166
2,124
5,533
456
326
153
6 835
2,132
5,536
462
324
150
6 873
2.150
5,571
463
325
154
6 922
2,161
5, 674
480
329
157
6 927
2, 171
5, 733
488
333
160
6 881
2, 206
5, 775
514
338
161
6 851
2, 237
5, 816
574
339
156
6 696
T 48 432
15, 992
9,105
6,887
r 48 4Q4
15 993
9, 124
6,869
r 48 470
16 091
9,211
6,880
r 48 760
16 229
9, 300
6,929
r 48 882
16' 380
9 405
6 975
r 49 942
r 49 638
16 635
9' gi8
7 017
743
2, 491
3,986
10, 575
2,147
5,644
r
6, 854
741
2 486
3,974
10, 574
2, 145
5 646
r
6 845
741
2 451
3, 984
10, 541
2, 154
5 649
r
6 859
739
2 483
3, 986
10, 633
2, 161
5 656
r
6 873
743
2 502
3,946
10, 600
2,161
5 674
749
r 2 539
4, 000
10, 655
2,171
5 676
r ft 907
49 514
16 688
9 627
7' 061
'
756
r 2 514
r 9 54(j
r 2
4, 064
10,711
2,184
5 690
T g qo7
4, 082
10,765
2, 204
5 730
r ^ 019
Total labor force, including Armed Forces., . d o
Civilian labor force, total ..
Employed
Agricultural employment
Non agricultural employment
Unemployed
... ._ do do
do __
do
_ do~.
Not in labor force
Employees in nonagricultural establishments:
Total unadjusted (U. S. Dept. of Labor)
Manufacturing
Durable-goods industries
Nondurable-goods industries _.
Wholesale and retail trade
Wholesale trade
Retail trade 9
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 d1
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 d"
_-_
do
Transportation and public utilities
do
Wholesale and retail trade
do
Finance, insurance, and real estate
do
Service and miscellaneous
do
Government cf
_ _
..do _
T
r
r
r
T
r 6
870
16? 545
9 523
7 022
r
10
2
7
1
1
638
863
775
315
499
788
10
2
7
1
1
2.241
5, 818
575
338
1.51
6 717
r 49
16
9
7
757
718
P61
615
046
r
T
'51, 299 v 49. 541
r 17 009 ''16 798
r 9 884 /> 9 802
r 7 125 P g 996
754
r 754
JOG
r 99
P 98
212
P 213
36
°ll
r
300
107
T 2 580
' 4, 143
1 225
115
809
736
42
560
li 126
824
87°
945
395
51 6
785
10 909
2 909
8* 000
1 444
1 527
785
2. 223
5. 791
509
336
155
6 91 1
2. 216
5, 730
472
334
157
•• 2, 213
' 5, 690
461
333
156
7 H'id-
~" H74
49 835
16 6C*1
9 634
1 0,57
9 736
7 086
r
T 9
Q49
1 ' 570
r
fjfjt)
p
74ft
' 4, 164
?99
v 2 243
p 4, 095
r 11 747
p 10 845
r 9' QTO
„ n Q94
r 1 964
cgcj
r i
799
p i 407
P l' 555
p 78(5
2, 220
5, 658
"2,216
" 5, 600
104
r 9 407
r 8 184
T 1
118,080
r
790
r
r
r 1 R QA9
r 9 826
r 7 136
Q 842
P Q HOk
T 7 106
jt 7 053
9 493 r 9 471
4, 132
' 4, 153
' r 10, 868 * 10, 941
r
2, 224
2, 231
M, 144
"11,007
p 2, 238
r
~rn
747
7'4
519
r 9 537
9 ^19
4, 106
10. 797
2.208
5 732
r g 948
4. 135
10.824
2 '?23
5 705
r 6 966
4,116
10, 801
2,227
r
7<>n
6 9^1
r
r
x 71 c
T 7 009
r
r Q gey
!
Production workers in manufacturing industries:
Total (U. S. Dept. of Labor)
T
thousands.. 12,645
12,649
12, 523
12, 778
12,816
12, 882
12, 951
13, 086
13, 262
13, 373
13, 446 r 13. 498 ' 13. 460 " 13, 240
Durable-goods industries
. _ do
7 282 ! 7 375
7,218
7,182
7 457
r 1 RIV-J
7 79Q 1 r 7 Q'ta
v 7 7fi"-t
7 530
7 499
7 62'^
7 630
7 553
r
Ordnance and accessories
do
94 I
97
96
91 i
94
90 i
' 89
89
88
87 .
84
84 i
83
P82
r
Revised.
p Preliminary.
| See corresponding note on p. S-10.
©Beginning July 1955, estimates relate to the calendar week which contains the 12th of the month (except December 1955 estimates which cover the week of Dec. 4-10)- earlier data relate
to the calendar week containing the 8th of the month.
9 Includes data for industries not shown.
'
*New
series. Figures relate to establishments primarily engaged in local or long-distance trucking, transfer, and draying services or in the storage of farm products and other goods.
rf1 Reflects preliminary revisions for seasonally adjusted estimates of total employment and the construction and Government divisions; revisions beginning January 1953 \\ill be shown
later.
SURVEY OF CURRENT BUSINESS
S-12
1954
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
December
February 1956
1955
J anuary
February
March
April
May
June
1956
July
August
Septem- October Novem- December
ber
ber
January
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Production workers in mfg. industries — Continued
Total (U. S. Dept. of Labor)— Continued
Durable-goods industries — Continued
Lumber and wood products (except furniture)
thousands. .
Sawmills and planing mills
do
Furniture and
fixtures
_
do_
Stone, clav, and glass products
do_Primary metal industries 9
- do
Blast furnaces, steel works, and rolling mills
thousands. Primary smelting and refining of nonferrous
metals
thousands
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
thousands- ..
Machinery (except electrical)
do
Electrical machinery . _
..do _
Transportation equipment 9
do
Automobiles
. _._ _ _
__do
Aircraft and parts
do
Ship and boat building and repairs
do
Railroad equipment
.
_
do
Instruments and related products
__do. Miscellaneous mfg. industries
do
661
360
297
437
1, 002
631
350
293
430
1,013
639
353
296
434
1,032
634
3f>5
298
442
1, 057
651
360
297
450
1,076
683
373
298
456
1,096
727
389
300
466
1,115
720
387
298
460
1,098
731
393
313
472
1,112
726
387
320
479
1, 134
478
1, 135
'696
375
323
'477
'1, 151
493
498
508
520
531
544
557
560
564
568
559
563
53
53
53
53
54
54
55
44
51
55
55
55
843
1, 106
809
1, 375
702
525
104
37
218
373
834
1,109
800
1,400
730
523
104
38
217
360
844
1, 125
803
1,426
750
523
106
41
216
371
860
1,144
803
1,447
773
520
108
40
219
377
868
1,164
804
1,462
789
518
107
41
218
376
877
1,174
809
1, 456
789
509
109
42
211
379
884
1,182
816
1,447
782
503
113
41
220
385
863
1,160
802
1,420
761
502
108
42
219
372
877
1,155
818
1,379
722
501
105
43
220
388
894
1,149
855
1, 357
689
510
103
46
223
400
904
1,194
885
1,378
711
512
101
46
225
407
' 912
'906
'1,213 ' 1,237
874
'870
' 1, 484 ' 1, 514
831
519
99
46
* 225
'227
'394
'405
*895
p 1, 244
P854
P 1. 496
5,427
1,062
264
72
151
173
114
5,341
1.007
256
72
135
168
107
5,367
985
250
73
125
169
105
5,403
991
248
74
128
169
109
5,359
1,011
246
78
142
169
114
5,352
1, 035
251
83
149
171
118
5,456
1,089
255
89
183
174
122
5,452
1,150
257
90
233
174
129
5,709
1,250
259
88
327
172
127
5, 750
1,245
263
83
325
173
122
5,717
1,191
265
78
260
175
120
' 5, 659 ' 5, 607
'1,130 ' 1, 068
268
75
199
175
115
v 5, 477
v 1, 007
100
983
443
200
91
977
444
192
89
985
446
196
83
985
445
197
80
983
446
196
80
965
431
197
82
974
433
202
79
954
429
194
105
986
440
206
114
989
438
208
113
991
439
210
101
998
442
211
'96
'998
p90
P987
1,073
442
223
1,069
437
221
1,101
437
222
1,110
439
222
1,057
441
223
1,041
444
223
1,058
451
226
1,025
448
227
1,101
459
229
1,115
462
229
1,123
464
229
' 1, 135
465
231
' 1, 136
464
t 1, 108
P457
519
534
206
172
133
207
85
335
222
512
534
207
169
132
209
85
336
225
512
535
209
170
132
209
87
345
228
516
548
212
172
133
212
87
347
227
516
551
214
173
132
211
89
337
222
516
550
215
175
134
216
90
331
218
521
545
217
176
135
219
91
342
225
518
542
219
177
135
216
92
342
225
520
543
218
176
134
217
91
351
229
530
553
218
174
132
223
92
346
224
535
557
218
'537
'558
P529
P 556
130
226
92
344
222
' 170
p 167
'234
P232
'346
P343
Production workers in manufacturing industries, adjusted:
Total
thousands
Durable-goods industries
do
Nondurable-goods industries
-.do
12, 580
7, 177
5,403
12, 586
7,191
5,395
12, 673
7, 269
5,404
12, 798
7, 350
5,448
12, 934
7,443
5,491
13, 081
7,549
5,532
13, 200
7,634
5,566
13, 119
7, 609
5,510
13, 127
7,592
5,535
13, 160
7,614
5,546
13, 270
7,701
5,569
Production workers in manufacturing industries :
Indexes of employment:
Unadjusted
_
1947-49=100
Adjusted
_ _ _ _ _ _ ___
do - _
102.2
101.7
101.2
101.8
102. 3
102.5
103.3
103.5
103.6
104.6
104.1
105.8
105.8
106.7
104.7
106.1
107.2
106.1
108.1
106.4
108.7
107.3
2, 113. 2
206.1
2,116.4
207.0
2, 122. 1
207.5
2, 127. 4
207.3
2, 132. 9
207.7
2, 157. 4
211.3
2, 161. 3
211.9
2, 164. 5
211.5
2, 146. 9
209.2
2, 146. 1
209.6
1,037
1,033
1,035
1,040
1,081
1,109
1,121
1,126
1,122
1,115
' 1, 107
v 1, 103
78.2
77.5
78.0
78.1
78.1
78.7
78.4
79.5
81.6
80.5
83.7
81.9
84.6
82.8
85.0
83.5
84.7
84.5
'84.2
86.0
p83. 5
P85.4
P83. 0
PS4.9
143.1
141.5
144.4
146.6
146.7
150.1
152.1
151.0
154.6
158.7
161.2
' 163. 9
163.8
p 158. 4
40.5
41.1
40.7
40.2
40.9
40.0
40.4
41.1
40.5
40.6
41.4
40.6
40.3
41.2
40.6
40.8
41.6
40.8
40.7
41.2
40.9
40.4
40.9
40.3
40.6
'41.1
40.4
40.9
41.4
41.0
41.1
41.7
41.0
41.2
41.9
41.4
'41.3
'41.9
'41.3
P40. 6
P41.0
P41.3
40.8
40.9
41.4
41.1
40.0
40.7
40.7
40.5
40.6
40.4
40.8
41.2
41.3
40.6
40.6
40.8
41.1
41.3
41.3
40.9
40.4
40.6
40.3
41.3
41.2
41.0
41.7
40.7
41.8
41.6
41.8
42.5
41.6
41.9
41.5
40.5
40.9
40.6
41.3
40.6
41.5
42.1
42.0
41.9
40.5
41.0
41.4
42.3
41.9
41.8
41.1
41.5
42.4
41.9
41.6
40.5
41.5
42.1
41.6
41.7
'41.0
P40.0
42.3
'41.8
' 42 "!
P40.5
P40. 9
39.1
39.7
39.8
40.2
40.5
40.9
41.0
40.1
39.9
41.4
40.6
40.8
40.5
40.6
40.4
40.5
40.6
40.7
40.5
40.5
38.8
41.4
41.2
41.1
41.6
40.9
41.1
40.8
41.2
41.0
41.4
41.4
41.2
41.6
41.6
42.1
41.3
42.1
41.2
41.4
41.6
41.6
41.8
42. 1
42.2
42.3
41.8
42.4
Nondurable-goods industries _
Food and kindred products 9
Meat products __ _ _
Dairy products
Canning and preserving
Bakery products
Beverages
_
_
_ . do
do
do
do
_
do
do
do
Tobacco manufactures
do
Textile-mill products 9
- - -- - do
Broad-woven fabric mills
_ . ...do ._
Knitting mills
_ . _ do
Apparel and other finished textile products
thousands..
Paper and allied products
do
Pulp, paper, and paperboard mills
do
Printing, publishing, and allied industries
thousands.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
Miscellaneous employment data:
Federal civilian employees (executive branch):
United States, continental
thousands i 2,431. 1
i 209. 8
Washington, D. C., metropolitan area
do
Railway employees (class I steam railways) :
1,059
Total
thousands ,
Indexes:
79.8
Unadjusted
1947-49=100-81.5
Adjusted
_
__do . -
716
381
323
539
' 557
219
'171
129
231
94
'332
'211
'665
321
'471
f
1, 162
-
638
p 319
P464
p 1,160
P226
P384
' 13, 412 ' 13, 396 p 13, 299
' 7, 797 ' 7, 810 p 7, 767
' 5, 615 ' 5, 586 p 5, 532
' 109. 1
' 108. 4
' 108. 8
' 108. 3
p 107. 0
P 107. 5
2, 142. 2 1 2,1 435. 2
r
214. 7
209. 6
PAYROLLS
Manufacturing production-worker payroll index, unadjusted (U. S. Dept. of Labor)—
1947-49=100-.
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor):
All manufacturing industries
hours
Durable-goods industries
_
do .
Ordnance and accessories _ _
- -do. .
Lumber and wood products (except furniture)
hours-.
Sawmills and planing mills
do
Furniture and
fixtures
do
Stone, clay, and glass products
do
Primary metal industries 9 __
_ _ _ _ do
Blast furnaces, steel works, and rolling mills
hours. Primary smelting and refining of nonferrous
metals
__
hours
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
hours. Machinery (except electrical)...
do. _
l
'41.8
Ml.l
43.1
P42. 7
Includes temporary Post Office employees hired during Christmas season; t here were about 30 4,300 sueti employe es in all cireas in I)ecember 1954 and
' Revised.
» Preliminary.
310,000 in December 1955.
9 Includes data for industries not shown.
SUKVEY OF CURRENT BUSINESS
February 1956
1954
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
December
S-13
1955
January
February
March
April
May
1956
DecemOctober NovemAugust September
ber
ber
July
June
January
EMPLOYMENT AND POPULATION—Continued
LABOR CONDITIONS— Continued
Average weekly hours per worker, etc. — Continued
All manufacturing industries, etc.— Continued
Durable-goods industries— Continued
Electrical machinery- .
hours Transportation equipment 9
- --- -- do. _
A utoinob iles _ _
do
Aircraft and parts
do
Ship and boat building and repairs
do Railroad equipment
do
Instruments and related products
do
Miscellaneous mfg industries
do
40.5
42.5
44.0
41 4
Nondurable-goods industries
do
Food and kindred products 9
, _ .do _ _
Meat products. _
do
Dairy products.. __ _ - - _ _ _ _ _ _._do- Canning and preserving
do
Bakery products _ _ __- .. .. .. - -do _.
Beverages
do
Tobacco manufactures
Textile-mill products 9
Broad- wo ven fabric mills
Knitting mills
do
-do
do
do
Apparel and other finished textile products
hours. .
Paper and allied products
do
Pulp, paper, and paperboard mills..
do
Printing, publishing, and allied industries
hours.
Chemicals and allied products
do
Industrial organic chemicals
_ . _ _ do
Products of petroleum and coal
do
Petroleum refining . . .__ _
.. do .
Rubber products
do
Tires and inner tubes. _
. _
do
Leather and leather products
do
Footwear (except rubber)
do
Nonmanufacturing industries:
Mining:
Metal
do
Anthracite
.
do ._
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production hours
Nonmetallic miring and quarrying
do
Contract construction
._ . . ... ..do ...
Non build ing construction
do
Building construction
_
...
do..
Transportation and public utilities:
Local railways and bus lines . do _
Telephone
do
Telegraph
.
_
_
do _
Gas and electric utilities
do
Wholesale and retail trade:
Wholesale trade
do
Retail trade (except eating and drinking places) 9
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 dvoinsr plants
do
Industrial disputes (strikes and lock-outs) :
Beginning in month:
Work stoppages
number. .
Workers involved
thousands
In effect during month:
Work stopnages
.
_
number. _
Workers involved
. _ .thousands. _
Man-days idle during month
do .
6
5
9
5
0
8
4
3
41.5
43.1
44.7
41 7
38.2
40 3
41.5
41 2
r
41. 6
Ml. 8
p 41.0
p40. 1
r 41 4
41 2
p 40 7
p 40 2
1
7
9
5
9
2
9
40
41
42
42
39
41
r 40
3
6
8
9
9
0
0
40 3
41.6
44 4
42.6
36 4
41.0
39 9
r
40 4
Ml. 8
p 39 9
p 41 5
4
5
0
5
41
40
41
39
0
8
2
4
38
41
41
39
r
39 1
41 2
p 37 9
p 40 3
37.1
43 6
45.0
-37.1
T 43 6
P 36.5
p 43 2
39.1
41 5
40 8
41 6
41 4
42 0
42 0
37 6
36 6
39.1
41 6
41 2
41 3
41 4
42 6
42 5
37 9
37 0
'39.7
Ml 8
p 38. 7
p 41 5
r 41 o
p 41 3
42 8
28 7
36 5
42 8
37 2
37 4
42 6
1
8
7
6
7
40
45
38
42
37
8
9
5
8
4
41
45
37
41
36
0
6
4
4
3
40
44
35
38
34
3
4
4
4
7
3
2
4
6
43
40
42
41
0
1
4
4
42
39
42
41
4
9
2
6
42
40
41
41
9
3
9
5
39.2
40 4
40.5
40 6
40 4
42.4
43 8
41 1
39 5
39 4
40 5
40 5
40 5
42.7
44 3
41 3
39 6
39 5
40 5
40 6
40 6
42. 1
43 5
40 7
39 6
40 0
40 3
40 1
40
42
44
41
39
40
40
40
8
7
3
0
9
1
6
5
40
40
40
41
39
40
40
40
6
3
0
0
8
7
8
5
39
41
42
41
39
40
40
39
8
7
5
2
1
5
2
7
40 6
41.1
41 5
41 0
39 1
40 9
40 6
40 3
40 3
41.2
41 3
41 4
39 5
40 8
41 2
40 9
39.8
41.4
42.8
42.8
38. 2
40.9
39.5
39 3
40.8
41 7
43.3
37 7
40.4
39 4
39
40
40
43
38
40
39
5
5
0
3
2
5
7
39
40
40
43
38
40
40
7
5
5
2
0
4
2
39
40
40
43
37
40
40
0
3
0
0
7
3
5
39
41
41
43
38
41
40
6
1
3
8
3
1
7
39
41
41
44
39
41
40
9
5
3
0
3
4
7
39
41
41
44
39
41
42
7
9
7
8
7
4
2
39
41
41
43
39
40
41
9
1
6
7
2
9
4
40
41
42
43
39
41
40
38.4
40.2
40.6
38 3
37 7
39.6
39 9
37 4
37
40
40
38
0
0
1
2
37
40
40
38
6
0
1
4
36
38
39
36
4
7
1
3
38
39
40
37
8
5
0
5
39
39
40
38
4
8
0
1
38
39
40
37
3
6
3
7
39
40
40
38
2
2
7
6
40
40
41
38
36.3
42.7
43.8
36.0
42.3
43.7
36.7
42 5
43.8
37.1
42 8
44.0
35.6
42 5
43.7
36.3
42 9
44.0
36.6
43 0
44 1
36.0
43 1
44.5
36.9
43 2
44 4
36.8
43 6
44 5
37.2
43 5
44 6
39.0
41 4
41.0
40.6
40.6
41.8
41.6
37.8
37.2
38.2
41 1
40.7
40.8
40.9
41.3
41. 1
37 9
37.5
38.4
41 2
40.8
40 2
40.2
41 3
40. 7
38 8
38 5
38.8
41 4
41.0
40 7
40.4
41 0
40.3
38 5
38 1
38.5
41 3
40.9
41 0
40 7
41 8
42 4
36 6
36 0
38.7
41 3
41.0
41 4
41.0
42 0
42. 1
36 7
36.0
38.7
41 4
41 1
41 2
40 6
42 3
43 1
37 9
37 5
38.7
41 2
40 9
41 3
40 8
41 3
42 7
37 7
37 4
38.9
41 2
40 8
41 0
40 4
41 3
42 1
38 3
38 1
39.3
41 5
41 1
41 3
40 8
41 5
41 4
37 2
36 3
41.7
35.1
37. 1
42.8
31.9
37 1
42 0
36.3
37 8
41 6
31.9
36 9
41 1
28 8
37 2
42 2
30.8
37 4
42 2
35 1
39 0
41 2
35 5
38 2
42 1
33 5
37 5
40.3
43.4
36.4
38.4
36.0
41.7
42.4
35. 4
36.8
35.1
39.9
41.6
35. 3
37.9
34.7
40.1
43. 6
36.6
39.6
35.9
40.2
43 9
36.0
38 2
35. 4
41.2
45.3
37.4
40.2
36.7
40
45
37
41
36
1
3
7
2
7
40
45
38
42
37
8
4
2
1
2
40
45
37
41
36
43.2
39.3
41.4
41.4
42.5
38.9
41.3
40.9
42.9
39 0
41.3
40.9
42.8
39.0
41.5
40.8
43.0
39 4
42.0
40 9
43. 3
39.8
42. 3
41.0
43
39
42
41
9
4
3
1
43
40
42
41
2
0
2
4
43
40
42
41
4
2
6
6
r
r 41 2
p 40 8
r 3Q 2
P 39 3
36 3
40.8
40.4
40.3
40.3
40 3
40.6
40 6
40 9
40 6
40 7
40 7
40 9
39.5
37.1
38.4
44.4
38.9
35. 3
38.0
44.0
38.9
35.1
37.9
44.2
38.8
35.2
37.6
44.2
38.6
34.7
37.6
44.2
38.8
34.6
37.7
44.1
39.1
35 4
38 3
44.2
39.7
35.9
39 1
44.1
39.6
35.7
39 1
43. 8
39.1
35 0
38 4
44.0
38.7
34 8
38 1
43.7
38.6
34 5
37 9
43.9
41.8
40.3
39.5
42.1
40.0
39.0
41.8
39.8
38 0
41.7
40.2
39.2
41.6
40.3
39.7
41.2
40.8
41.0
41 3
40 4
40 1
41 3
40.6
39 *>
41 6
40.0
38 5
41 2
40 3
40 3
41 5
40 6
40 2
41 5
40 2
39 4
153
29
225
.50
250
90
300
165
325
210
375
170
500
500
425
750
450
220
400
240
400
225
225
90
175
50
293
78
486
325
80
400
380
125
570
450
220
1,600
500
310
2, 600
2,600
575
310
700
650
3 400
650
900
3 200
650
380
3. 000
600
430
2 800
2,600
600
320
475
190
2 650
350
200
2 000
397
373
453
480
542
548
514
603
622
587
504
431
1,519
1,962
1.038
1,880
1,005
1 657
1,009
1,471
910
1 263
898
1 121
969
1,092
877
961
725
858
794
784
937
863
1 193
1 123
1,670
1 70, 882
1,694
165, 469
1,600
178,762
1,345
135.779
1,136
117,402
1,057
108, 861
924
91,602
839
92, 834
763
83 169
672
70, 091
685
r 74 674
861
95 153
44
92
105
35
95
111
10, 224
33
88
107
25
69
86
25
55
66
40
56
64
32
59
68
24
47
62
6,528
20
35
42
4,243
27
37
40
4, 132
32
47
51
5, 230
4.4
4.4
.3
1.1
2.8
.2
4.1
35
.3
12
18
.2
3.3
31
3
12
r
p2.4
p2 9
p 2
p14
P11
p. 2
U. S. Employment Service placement activities:
393
Nona^r icultural placements
thousands..
Unemployment compensation, State laws (Bureau of
Employment1 Security):
Initial claimscf
thousands. . 1,450
1,666
Insured unemployment weeklv average
do
Benefit payments:
1,365
Beneficiaries, weekly averaged" - do. __
Amount of paymentscf
thous. of dol._ 153,050
Veterans' unemployment allowances:
41
Initial claims
.thousands79
Insured unemployment, weekly average.
do —
87
Beneficiaries, weekly average
do
9, 381
Amount of payments
thous. of dol_.
10,198
11,337
Labor turnover in manufacturing establishments:
3. 3
2.5
3.2
Accession rate.— _ .monthly rate per 100 employees. _
2.9
3.0
2.5
Separation rate, total
do
.2
.2
.2
Discharge
do
1.5
1.1
1.7
Lay-off
do
.9
1.0
1.0
Quit
-.
do ...
.2
.3
.2
Military and miscellaneous
do
r
Revised.
v Preliminary.
9 Includes data for industries not shown.
<? Beginning 1955 includes data relative to UOFE (January 1955 initial claims, 29,000;
41
41
41
41
39
39
41
41
40 3
42. 1
43 0
41 5
39.4
40 1
40 2
40 2
3.6
3.0
.2
1.3
1.3
9
8,423
6,739
6,606
6,764
37
60
70
7,681
3.5
3.1
.3
1.2
1.5
.2
3.8
3.2
.3
1.1
1.5
.2
4.3
3.2
.3
1.2
1.5
.2
3.4
3.4
.3
1.3
1.6
.2
4.5
4.0
.3
1.3
2.2
,2
beneficiaries, 2,700; benefits paid, $307,000).
r
r
1 4
.2
P 1 462
SURVEY OF CUEREXT BUSINESS
S-14
Unless otherwise stated, statistics through 1954 and ! l954
descriptive notes are shown in the 1955 edition of | T^npm
BUSINESS STATISTICS
| her
February 195$
19* 5
January
February
March
April
May
June
1956
July
August
Septem- October Novem- December
ber
ber
January
EMPLOYMENT AND POPULATION—Continued
WAGES
Average weekly gross earnings (IT. S. Department of
Labor) :
A.11 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
fixture*'
do
Stone, clay, and glass products
do
74 12
80. 15
82 21
73 97
80. 16
81 20
74 74
80. 56
82 22
75 11
81. 56
82 42
74 96
81.58
82 42
76 30
82. 78
82 82
76 11
81.99
83 44
76 36
82.62
82 62
76 33
82.61
82.42
77 71
84. 46
85 28
78 50
85. 07
85 28
79.52
86.31
86.94
66. 91
66.67
65 83
73. 98
66. 34
66. 75
63 99
73. 49
66. 50
67.57
65 67
73. 49
66. 10
66. 99
65 67
74. 75
67. 06
67. 40
64 48
75. 17
68. 47
69. 64
64. 71
76, 91
71.90
73.10
66 98
77. 52
69. 66
70. 35
64 96
77.23
72. 21
72. 83
68.46
77.93
70. 93
71.62
69. 37
79. 19
71.10
71.80
69. 96
78.77
Primary metal industries 9
.. 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. Machinery (except electrical)
do
Electrical machinery
do
85. 60
87. 26
87.29
88. 34
89. 40
90. 69
91.30
92.57
91.94
97. 39
87. 98
90. 1 2
89. 95
91.25
92. 34
93. 66
95. 12
98. 65
96.96
81 00
81 61
81 20
81 41
81 61
82 62
82 82
84 65
81. 48
80. 70
83. 44
74. 52
80. 15
82.82
74. 56
80. 34
83.64
74.74
80.73
84.87
75.33
80. 34
85.70
75. 52
81. 54
87. 15
76. 30
80. 95
87. 57
75. 92
81.99
86.11
74.82
82.78
86.94
75.92
Transportation equipment 9
do
\utomobiles
do
\ircraft and parts
do
Ship and boat buildinsr and repairs.- _ _ _ d o . _
Railroad equipment
do
93. 08
99 44
87.77
83. 10
88.88
92. 62
96 75
88.81
82.74
87.82
93.28
98 99
87 95
82. 95
85. 89
94.37
100 56
88.38
82. 76
84. 14
92. 62
97 88
87.10
83.16
88.00
94.79
88. 15
R3. 39
88.62
88 26
89 20
88 15
83.18
90 35
92 99
97 75
89 40
81.72
90 32
Instruments and (rrelated products
Miscellaneous mf industries
75. 33
60 18
75.17
65 93
76. 14
66 12
76.14
66 58
75. 76
65 76
75. 92
66. 83
77 93
66 42
do
do . do
do
do_ __
do
do . _
66. 47
70. 79
81. 75
69.34
55.39
69.12
78.21
66.02
70. 18
79. 65
70. 58
54. 67
68 28
77.62
66. 36
70.07
76 00
71 . 45
56. 15
68.85
78.61
66.70
70.07
77.76
71.28
56. 24
68. 28
80.00
65.91
70. 12
76. 00
70.95
57.68
68. 11
81.41
67. 32
71.51
79.30
72.71
56. 68
69.87
82.21
Tobacco manufactures
do
Textile-mill products 9
do
Broad-woven fabric mills
do
Knittinf mills
do
Apparel and other finished textile products
dollars _ Paper and allied products
do
Pulp, paper, and paperboard mills.
do
Printing, publishing, and allied industries
dollars ..
Chemicals and allied products
do
Industrial organic chemicals.
do -
49.92
55. 07
53.59
50. 56
50 14
54. 25
52. 67
49. 37
49 58
55. 20
53 33
50. 81
51.51
54. 80
52. 93
50. 69
50.60
53. 02
52. 00
47. 92
49.01
76.01
82. 34
48.60
75 72
82. 16
49.55
76. 08
82. 34
49. 71
77.04
83. 16
90. 09
79.90
84.46
88. 24
79. 73
84. 25
89.47
80.34
84.86
Products of petroleum and coal
Petroleum refining
Rubber products
Tires and inner tubes
Leather and leather products
Footwear (except rubber) _
92 57
96.22
84. 85
98.18
52. 16
49. 10
93 02
96. 93
83. 84
97.41
52. 68
49.88
87.57
89. 86
92. 01
Nondurable-goods industries
Food and kindred products 9
Meat products
Dairy products
Canning and preserving. _ _
Bakery products
Beverages
.. _
. do
do
. _
-
do
. do
do
do
do
. do
Nonmanufacturing industries:
Mining:
Metal
do
Anthracite
...
. _ . _ do
Bituminous coal
...
do ...
Crude-petroleum and natural-gas production:
Petroleum and natural-gas
production
dollars . .
Nonmetallic mining and quarrying
do
Contract construction
do
NoTibuilding construction
do
Building construction. .
.
.
do
Transportation and public utilities:
Local railways and buslines
do _ _ _
Telephone
.. .
- do
Telegraph
do
Gas and electric utilities..
.
do
Wholesale and retail trade:
Wholesale trade
do
Retail trade (except eating and drinking places) 9
dollars.General-rnerchandise 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, vear-round _
.do
Laundries
do
Cleaning and dyeing plants, ,_do
T
Revised.
v Preliminary.
9 Includes data for industries not shown.
r
79. 71
86. 31
86. 73
p 78 36
v 84. 05
p 86 73
68.45
70.14
69.04
79.04
r 68. 06
P 65. 60
T
p 66 42
p 77.30
96.10
96.33
r
103. 91
99. 47
100. 37
89 42
88 58
87 54
84.02
88. 83
76. 17
85. 67
90. 10
79.46
84.44
90.74
79.27
92.06
95 45
88.98
83.67
93. 25
93
96
90
84
94
11
23
67
93
25
94 21
98 47
91 30
84.24
91 54
99 56
106 39
91 74
82.13
94 30
76 38
65 51
77. 55
66 50
79 52
68 30
80 32
69 38
80 51
69 63
67 83
71.38
79 30
73 04
55. 81
70 79
82.21
67 89
72 07
80 48
75 26
54 79
70 79
87.35
67 83
71. 10
83 62
72.98
56. 45
70. 35
85.28
68
72
87
73
58
71
84
Q7
98
52
95
65
28
66
69 32
73 63
87 74
72 07
59. 05
71 34
82.00
70 12
74 88
94 13
72 42
53.51
72 16
82.19
T
54. 71
54. 51
53. 20
49. 50
55 55
54.92
53 20
50 29
54 00
54.25
53 20
49 01
50 57
55.48
54. 13
50.95
50 50
56. 70
56 17
51 21
51 25
57. 53
56 44
53. 19
51 46
58.50
57 41
53 86
r
46. 99
76.93
83. 47
47. 92
77. 65
83. 60
48. 68
78 69
85. 1 1
47.88
79 30
86.78
49.82
79 92
87.02
50. 05
81 10
88. 11
50. 59
81 35
88.31
90.79
80.32
85. 69
89.71
81 . 36
87.12
90. 95
81.77
86. 51
90. 95
82.80
87. 54
90. 95
83.22
87 94
91. 42
82.81
86.90
93.14
84. 25
89 60
91 25
94. 87
84 25
96. 46
53. 93
51. 59
93 61
96. 96
83.64
95.51
53. 52
51. 05
95 94
99.72
86. 53
102. 18
51.24
48.24
97 70
101.27
87. 36
101.88
51. 75
48.24
97 23
100. 28
88 83
105. 60
53. 44
50. 63
99 53
102 41
86 32
103 33
52. 40
49 74
97 58
99.79
86 32
102. 72
53. 24
50.67
90. 31
76.88
92.01
88. 20
94.74
94. 50
87.78
80.07
91.88
86.31
74.88
93.00
89.46
77.62
93. 87
90 73
87.40
98. 28
91 46
86 27
95 50
90. 68
76. 38
94.28
89.47
95. 40
95. 49
75. 05
91 69
85. 01
93. 02
89.38
74.05
91 43
88.31
91.96
91. 43
77.17
94 06
91.48
94.42
93.67
78.58
92 52
89.39
93. 10
96.41
81.99
96 12
94. 07
96. 52
93. 03
82.90
96 89
96.41
96.89
79. 49
70.74
77. 00
84.87
78. 63
69. 63
76 82
84. 25
79.37
70.98
76 82
84. 66
79. 18
70.20
77. 19
84. 05
79.98
71.71
78. 54
84. 66
80. 54
72. 83
79. 52
85. 28
75. 89
75. 1 4
74. 96
75.76
76. 1 7
77. 14
56. 88
41. 92
61. 44
76. 37
57. 57
41.65
61. 18
75. 68
57. 57
41.07
61. 02
76. 91
57.42
41. 18
60. 54
78. 68
57. 51
40. 60
60. 54
80.00
58. 20
40. 83
61.07
81. 14
101.00
r
r
69. 37
79. 00
r
97. 67
' 84. 85
93.10
r
79. 87
p 83. 43
p 92 66
P 79. 13
r
95 30
T 90 23
r
80 73
70 04
p 79 77
TJ fiK 34
70 30
76 08
•P 69 83
p 75 95
53 96
58.50
P 53 06
p 57. 23
50.46
81 53
89.10
'50.46
r
81 97
T 50. 01
P 81 65
92.67
83.42
88. 13
92.28
84.86
89 82
r
94. 49
85. 27
p 92. 11
p 85. 08
100 36
102 82
86 74
101 02
52. 45
49 01
99 84
103 09
89 04
103 74
53. 39
49.41
99 95
103 91
92 44
107 95
54.96
51 06
r gg 4Q
P 99 12
94 73
85.76
94.50
96 73
72 61
96 73
97 58
96 72
99.86
96 92
96. 29
83. 99
98 94
99 36
98 95
92.63
84.73
98 02
99. 01
97.99
95. 88
85. 83
100 87
102 29
100 61
96. 35
84.36
98 36
99 36
98.01
94.30
81.70
93 10
91 78
93 34
82.09
70.92
79 52
85. 49
81
72
79
86
81. 40
72. 76
79.71
87.78
81. 70
72 58
79 71
87 77
80.56
73 42
79 34
89.02
81
75
78
89
78 53
77.95
78 96
79 37
78 94
59. 04
42.13
62. 43
81.77
60. 34
43. 08
63 73
81 14
60. 19
42.48
63. 73
81. 03
59. 82
42. 00
62 98
80 96
58. 82
41. 76
62 48
79. 53
58. 67
41.06
62 54
79 46
22
00
34
94
97 13
08
76
35
23
58. 51
58. 97
59. 02
59. 08
59. 00
58. 69
58. 50
58. 77
58. 67
59. 09
60. 25
60.64
41.38
40. 70
47, 01
41. 26
40. 40
46. 41
40. 96
40.20
45, 22
40. 45
40.60
47.04
40. 35
40. 70
47.24
40. 79
41.62
49.61
40. 47
40. 80
48. 12
40.89
41.01
47.04
40.77
40.40
45. 82
41.20
40 70
48. 36
41. 50
41 01
48.24
41.50
40 60
47. 28
r
r
r
r
88 99
P gy 72
r
56. 45
p57. 38
SURVEY OF CURRENT BUSINESS
February lf)r>6
1954
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
December
S-15
1956
19 55
January
February
March
April
May
June
August
July
Septem- October Novem- December
ber
ber
January
EMPLOYMENT AND POPULATION—Continued
WAGES— Continued
Average hourly gross earnings (U. S. Department of
Labor) :
4.11 manufacturing industries
dollars
Durable-goods industries
do
Ordnance and accessories.
do
Lumber and wood products (except fiirniture)___
dollars—
Sawm ills and plan ing m ills
-.do
Furniture and fixtures
do
Stone, clay, and glass products.
do
Primary metal industries 9
do
Blast furnaces, steel works, and rolling mills
dollars..
Priinary smelting and refining of nonferrous
metals _ _ _ _ . . ...
dollars
Fabricated metal prod, (except ordnance, machinery, transportation equipment) dollars. .
Machinery (except electrical)
do
Electrical machinery
.
do
I 83
1 95
2. 02
1 84
1 96
2. 03
1 85
1 96
2. 03
1 85
1 97
2. 03
1 86 •
1 98 ''
2.03
1 87
1 99
2.03
1.64
1.63
1 59
1 80
2.14
1.63
1.64
1 58
.81
2.16
1.63
1.64
1 59
1.81
2.15
1.62
1 . 63
1 59
1.81
2.16
1.66
1.66
1 60
1.82
2.17
1.67
1 67
1 59
1.84
2.18
2. 04
1 90
2 04
2.08
1 91
2 04
2.08
1 93
2 06
2.10
••2.10
1.72
1 72
1 61
1.85
2.20
1.729
1 7
1 60
1.87
2.28
1.74
1 73
1 63
1.86
2.27
1.73
1 73
1 64
1.89
2. 33
1.73
1 73
1 65
1.88
2.31
1.69
1.69
1 64
1.90
2.31
1.66
p 1.64
T i 64
r
1.89
2.32
•» \ 64
p \. 89
2.03
? 16
1 92
>' 2. 03
P 2 17
p 1 93
2 28
p 2 25
1 95
1 70
p I 9f>
v 1.70
9 ()(i
2.27
2.26
2.27
2.28
2.29
9 32
2 46
2.43
2 51
2.45
2.46
2.01
2 01
2 01
2.01
2 03
2 04
2 09
2 10
? 16
2 15
2 13
1.94
2 04
1.84
1.95
2 03
1 85
1.95
2 04
1 85
1.95
2 05
1 86
1 . 95
2 06
1 86
1.96
2 07
1 87
1.96
9 08
1 87
1.99
2 08
1 88
1.99
2 09
1 87
2.01
2 11
1 89
2. 03
2 13
1 qi
2.02
2 14
1 91
2. 19
2 26
2. 12
2.12
2.20
2. 20
2 25
2 14
2.10
2.19
2 20
2 26
2 14
2 10
2.18
2 21
2 27
2 14
2 09
2.13
2 20
2 25
2 14
2. 10
2. 20
2
2
2
2
2
2
2
2
2
2
9
2
2
2
2
2
2
2
2
2
2
2
9
2
2
2
2
2
2
2
2
2
2
2
2
do ...
.do ...
1 86
1.63
87
.64
1 88
1 64
1 88
1 64
1 88
1 64
1 87
1 65
1 91
1 64
1 90
1 65
1 91
1 65
1 93
1 67
1 94
1 68
1 94
1 69
__do
do ..
... .-..do
do
do
do
.
do
1.67
1.71
1.91
62
.45
69
.98
.68
72
.91
63
.45
69
.97
1 68
1 73
1 90
1 65
1 47
1 70
1 98
1
1
1
1
1
1
1
68
73
92
65
48
69
99
1.69
1 74
1.90
1 65
1.53
1 69
2 01
1
1
1
1
1
1
2
70
74
92
66
4K
70
02
1
1
1
1
1
1
2
70
72
92
66
42
71
02
1
1
1
1
1
1
2
71
72
93
68
38
71
07
1 70
1 73
2 01
1 67
1 44
1 72
2 06
1
1
2
1
1
1
2
72
75
04
70
47
73
07
1
1
2
1
1
1
2
72
77
05
68
48
74
05
1 74
1 80
2 12
1 70
1 47
1 76
2 06
r
1 74
1 82
T 1. 75
*> 1 83
1
1
1
1
1
1
1
1
37
37
32
32
1.39
1 37
1 33
1 32
1
1
1
1
41
38
33
32
1
1
I
1
41
38
33
32
1 41
1 37
1 32
1 30
1 29
1 38
1 33
1 32
1
1
1
1
25
40
37
33
1 25
1 41
1 37
1 35
1 34
1 42
1 38
1 36
r 1 38
1 42
v \ 40
r \ 42
- do
do
do...
do
do
22
28
15
09
21
19
23
15
09
22
23
30
17
09
23
24
30
17
14
28
26
33
19
15
31
27
35
20
16
30
31
38
20
15
34
Tobacco manufactures
do
Textile-mill products 9
do
Broad-woven fabric mills
do
Knitting mills
do
Apparel and other finished textile products
dollars. .
Paper and allied products. _
.do
Pulp, paper, and paperboard mills
do
Printing, publishing, and allied industries-do
Chemicals and allied products...
do
Industrial organic chemicals. —do
.30
37
.32
32
.33
37
.32
32
.35
.78
.88
2.31
1.93
2. 00
.35
.79
.88
2.31
1.94
2.07
1.35
1.79
1.88
2.33
1.95
2.08
1.34
1.80
1.89
2.34
1.94
2.09
1.32
1.81
1.91
2. 33
1.97
2.13
1.32
1.81
1 90
2. 35
1.98
2. 11
1.33
1.83
1 93
2.35
2.00
2 13
1.33
1.84
1 95
2.35
2.02
2 15
1.35
1.85
1.96
2.35
2.01
2.13
1.36
1.86
1 98
2.37
2. 03
2 18
1.36
..87
I 98
2.37
2.01
2.16
1.36
1.87
1 98
2.36
2.04
2 18
Products of petroleum and coal
Petroleum refining
Rubber products
...
. _ ,
Tires and inner tubes
Leather and leather products
_
Footwear (except rubber)
2.28
2 37
2.03
2.36
1.38
1. 32
2.28
2 37
2. 03
2.37
1.39
1.33
2.27
2 36
2 04
2.37
1 39
1.34
2 30
2 40
2 04
2.37
1 39
1.34
2.34
2 45
2.07
2.41
1.40
1.34
2 36
9 47
2 08
2 42
1 41
1.34
2 36
2 47
2 10
2 45
1 41
1.35
2 41
2 51
o Q9
2 42
1 39
1. 33
2 38
2 47
2 09
2.44
1 39
1.33
2 43
2 52
2 09
2 44
1 41
1.35
2 40
2 49
2 12
2 47
1 42
1.35
2 42
2 51
9 17
2 54
1 45
1.38
2. 10
? 56
2.48
2. 11
2 41
2.48
2.10
2 61
2 50
2.11
2 51
2 49
2. 10
2 60
2 50
2 12
2 52
2 51
2 15
2 49
2 52
2 22
2 43
2 50
2 25
2 56
2 52
2 26
9 53
2 65
2 28
2 60
2 67
2 67
2.25
1.76
2.59
2.33
2. 65
2.29
1.77
2.59
2.31
2.65
2.24
1.78
2. 59
2 33
2. 65
2.28
1.77
2. 57
2 31
2.63
2.33
1.79
2.57
2.34
2. 63
2. 34
1.81
2.57
2 34
2 63
2.32
1 83
2.57
9 34
2 64
2.36
1 85
2.59
9 3fi
2 fi6
2.31
1.85
2.60
2 38
2 67
2. 35
1 87
2.62
2 39
'> 69
2. 35
1 85
2. 63
2 40
2 70
2
1
2
9
1.84
1.80
1 86
2.05
1.85
1. 79
1 86
2. 06
1.85
1 82
1 86
2 07
1.85
1 80
1 86
2. 06
1.86
1 82
1 87
2.07
1.86
1 83
1 88
2 08
1.87
1 80
1 88
2 08
1.88
1 80
1 88
2 10
1.88
1 81
1 88
2 11
1.90
1 88
2 12
1.90
1 84
1 88
2 14
1
1
1
2
1.86
1 86
1 86
1 88
1 89
1 90
1 91
1 92
1 92
1 94
1 95
1 93
1.44
1.13
1.60
1.72
1.48
1.18
1.61
1.72
1.48
1.17
1.61
1.74
1.48
1.17
1.61
1.78
1 . 49
1.17
1.61
1.81
1 50
1.18
1 62
1.84
1 51
1 19
1 63
1 85
1
1
1
1
52
20
63
84
1 52
1. 19
1 63
1.85
1
1
1
1
53
20
64
84
1 52
1 20
1 64
1.82
1
1
1
1
99
1.01
1. 19
98
1.01
1. 19
98
1.01
1 19
97
1.01
1 20
97
1.01
1 19
99
1 02
1 21
98
1 01
1 20
99
1 01
1 20
98
1 01
1 19
I 00
1 01
1 °0
I 00
1 01
1 20
1 00
1 01
1 20
2. 022
3 186
2. 022
3 188
2 019
3 188
2.021
3 190
2 025
3 190
2 050
3 207
2 059
3 227
2 073
3 247
2 087
3 264
9 087
3 971
2 093
3 286
9 Q94
3 289
1. 928
.88
1.949
1.64
1.977
1. 925
.85
1.946
1.74
1.942
1. 941
.88
1 962
1 72
1.938
1 954
1 983
1 72
1 987
do
do
..do ...
do
do
..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
Non building construction
do
Building construction _ . _ _
. . ..do ...
Transportation and public utilities:
Local rail wavs and bus lines
- 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
Service and miscellaneous:
Hotels, vear -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.
v Preliminary.
9 Includes data for industries not shown.
§ Rates as of Feb. 1, 1956: Common labor, $2.117; skilled labor, $3.309.
" 1 93
v 2 05
p 2. 10
1 88
2 01
2. 04
i on
2.25
Instruments and related products
Miscellaneous mfg. industries
r
1 93
1 89
2 02
2.05
1 87
2. 00
Transportation equipment 9
Automobiles
A ircraft and parts
.
Shin and boat building and repairs
Railroad equipment
Nondurable-goods industries.
Food and kindred products 9
Meat products .__
Dairy products
Canning and preserving
Baker v products
Beverages
-
i
34
38
33
33
1 81
r
>• 1. 36
* 1.88
p 1.37
v 1.89
r
2.38
' 2. 04
P2.38
'' 2. 05
r 9 4()
p 2 40
r 2 IB
p 2 15
1 44
p I 4fi
9 097
3 990
2 107
'•} 298'
2 28
34
84
63
39
9 69
89
88
87
15
52
19
65
81
.91
SUEVEY OF CURRENT BUSINESS
•S-16
1954
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of DecemBUSINESS STATISTICS
ber
February 1056
1955
January
February
March
April
May
June
1956
July
August
Septem- October Novem- December
ber
ber
January
FINANCE
|
BANKING
Acceptances and commercial paper outstanding:
Bankers' acceptances
_
_ _ _ mil. ofdol__
Commercial paper
do
Agricultural loans and discounts outstanding of agencies supervised by the Farm Credit Adm.:
Total
mil of dol
Farm mortgage loans total
do
Federal land banks
do
Land Bank Commissioner
do
Loans to cooperatives
do _
Other loans and discounts
do
873
733
869
713
831
703
807
681
2,434
1, 347
1.336
12
339
747
767
623
686
572
655
572
650
593
655
580
671
564
662
547
642
542
642
510
2, 605
1,408
1 408
2 651
1,421
1 421
2 670
1,436
1 436
2 663
1,451
1 451
2 641
1,464
1 464
2 604
1 477
1 477
2 592
1 497
1 497
392
735
374
721
2,305
1,293
1,281
13
364
648
368
662
355
696
186,317
73, 817
38, 217
163, 393
62, 642
33. 531
149, 744
57, 091
31,595
50, 872
25. 885
143
24, 932
21, 033
49, 626
24, 960
475
23, 885
21,038
49, 442
24. 769
'485
23, 605
21,032
49, 434
24, 667
391
23,613
21,027
49,913
24, 988
560
23, 61 2
20. 985
49, 306
24, 780
460
23, 662
20, 988
49, 666
24, 601
128
23, 607
20, 994
50, 488
25, 719
754
24, 091
20, 994
49, 880
24, 911
470
23, 760
20, 993
50, 243
25, 250
603
23, 834
20, 994
50 221
25, 430
706
24, 024
21, 007
51 197
25, 776
618
24, 256
21,002
52 340
26, 507
108
24, 785
21, 009
50 615
25, 122
852
23, 466
21,010
50, 872
20, 371
18, 876
258
26, 253
49, 626
20, 138
18,918
581
25, 640
49, 442
19, 879
18, 562
471
25, 609
49, 434
19, 806
18, 283
412
25, 528
49, 913
20, 158
18, 495
334
25, 496
49, 306
19, 685
18, 221
192
25, 656
49, 666
19,268
18, 066
-73
25, 868
50, 488
20, 451
18, 999
688
25, 945
49, 880
19, 532
18, 368
217
26, 004
50, 243
19, 741
18, 423
211
26, 142
50, 221
19, 848
18, 565
172
26, 246
51, 197
19,770
18, 474
57
26, 629
52, 340
20 355
19, 005
* 102
26, 921
50, 615
19 881
18, 750
p404
26, 170
45.1
46.0
46.2
46.4
46.0
46.3
46.5
45.3
46.1
45.8
45.6
45.3
58, 445
57, 639
56, 270
55, 590
56, 969
56,011
56, 156
55, 865
55, 931
56, 306
56, 394
60, 117
3, 939
2,597
58, 317
4,232
2,320
57, 762
3,960
2,633
56, 474
4,062
2, 534
57, 921
4,216
3,105
57, 624
4,361
3,148
57, 376
4,258
3,224
56, 984
3, 963
3, 374
57, 523
3,990
3,256
58, 316
3,772
2,635
Time except interbank total 9
do
Individuals, partnerships, and corporations
mil. of dol_States and political subdivisions
do
Interbank (demand and time)-_ do
20, 169
20, 198
20, 280
20, 329
20, 319
20, 363
20, 449
20, 333
20, 385
18, 806
1,154
14, 273
18, 864
1, 126
13, 651
18, 930
1, 145
13, 402
18, 990
1,132
13, 085
18, 969
1,142
12, 988
19,037
1,113
12, 974
19, 173
1,059
13, 058
19,104
1,018
13, 339
19, 146
1,032
12, 977
Investments total
- - --do
U. S. Government obligations, direct and guaranteed total
--- - - mil. of doL
Bills
do. Certificates
do
Bonds and guaranteed obligations
do- _
Notes
do
Other securities
_ _ _
do_ -
45, 526
44, 783
43, 590
41, 932
42, 960
41, 724
40, 798
40, 765
36, 902
2,543
2,768
23, 391
8,200
8,624
35, 799
2,065
2,551
23, 102
8, 081
8,984
34, 599
1,816
1,633
22, 076
9,074
8,991
32, 885
1,286
1,117
21,806
8,676
9,047
33, 983
1,750
1,911
21, 682
8,640
8,977
33, 026
1,081
1,149
21,490
9,306
8,698
32, 076
1,019
31, 975
1,160
Loans (adjusted) totalO
do
Commercial industrial, and agricultural
do _ _
To brokers and dealers in securities
do
Other loans for purchasing or carrying securities
mil. of dol- Real -estate loans
-- - - do . . '
Other loans
do
41,008
22,486
2,688
40, 483
21,926
2,582
40, 751
22, 241
2.374
41, 448
22, 597
2,483
41,818
22, 545
2,660
1,113
7,176
8,205
1,056
7,279
8,346
1,080
7,359
8,408
1,113
7,474
8,488
1,108
7,570
8,652
ank debits total (345 centers)
New York City
B6 other centers cf
do-__
do
- - do.-
Federal Reserve banks, condition, end of month:
\sset<* tot-il 9
mil. of dol
Reserve bank credit outstanding, total 9 - - -do
Discounts and advances
do
United States Government securities
do
Gold certificate reserves
do
Liabilities total 9
- _
Deposits total 9
Member-bank reserve balances
Excess reserves (estimated)
Federal Reserve notes in circulation
Reserve ratio
-
do___
d°
do
do
do
- - percent
Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month:
Deposits:
Demand adjusted
_
-_ _ mil. ofdol..
Demand, except interbank:
Individuals, partnerships, and corporations
mil. of doLStates and political subdivisions.. . _
do
United States Government.
do _
Money and interest rates :§
Bank rates on business loans:
In 19 cities
New York City
325
792
178, 924 1158.296
67, 242
57, 634
39,908
34, 494
318
835
0
319
878
0
336
894
o
341
893
0
357
855
0
386
791
1167,714 U77.917 1161,748 '1167,343 ••1168,967 ^175,779 ''173,190
62,211
67, 634
58, 904
62, 550
58, 980
67,568
63 406
36, 570
37, 569
34, 123
35, 803
35, 863
35, 126
36, 876
743
21,313
o
o
1
200,523
81 027
40 193
r
44. 4
45. 6
56,900
58, 882
57, 607
58, 130
4,055
2,876
59,475
3,971
2,870
62, 166
4,026
2, 239
58,946
4,399
1,477
20, 405
20, 513
20,367
20, 527
20, 416
19, 210
993
13, 077
19, 356
952
13, 515
19,192
971
13,111
19, 354
969
13, 882
19, 251
963
12, 917
39, 716
39, 044
39, 124
38,006
38, 380
36, 983
30, 948
30, 347
30, 559
29,643
636
824
20,777
7,406
8, 363
30, 122
1, 535
28, 822
1,044
20, 680
6,997
8,258
20, 230
6,850
8,161
985
625
994
496
842
9,001
8,722
932
21,077
8,806
8,790
20, 965
8,373
8,768
20, 787
8,070
8,697
1,196
20, 644
7,877
8,565
42, 440
22, 636
2,742
43, 674
23, 501
2,678
44, 113
23, 550
2,775
44,696
24, 171
2,467
45, 449
24.660
2, 406
46, 499
25, 303
2,689
47,331
26,014
2,605
48, 356
26, 673
2,852
47, 711
26, 260
2,625
1, 155
7,719
8,910
1,190
7,873
9,153
1,190
7, 993
9,340
1,184
8, 120
9,492
1,194
8,257
9,669
1,245
8,073
9,926
1,248
8,188
10,015
1,271
8. 147
10. 159
1,302
8,154
10, 197
910
do
3.55
3.30
3 55
3.90
do
do
do
1.50
1.90
4.17
1.50
1.79
4.17
1.50
1.79
4.17
1.50
1.79
4.17
1.75
1.83
4.17
1.75
1.92
4.17
1.75
2.08
4.17
1.75
2.42
4.17
2.00
2.42
4.17
2.25
2.56
4.17
2.25
2.65
4.17
2.50
3.00
4. 17
2.50
3.00
4.17
1.25
1.31
3.00
1.33
1.47
3.00
1.38
1.68
3.00
1.38
1.69
3.00
1.43
1.90
3.00
1.50
2.00
3.00
1.50
2.00
3.00
1.50
2.11
3.01
1.67
2.33
3.34
2.08
2.54
3.40
2.23
2.70
3.50
2.17
2.81
3.55
2.43
2.99
3.63
1.174
1.94
1.257
2.11
1.177
2.18
1.335
2.30
1.620
2.39
1.491
2.40
1.432
2.42
1.622
2.54
1.876
2.73
2.086
2.72
2.259
2.58
2.225
2.70
2.562
2.83
15, 475
2,137
15,558
2,116
1 5, 604
2. 095
15,770
2,075
15,764
2, 052
15, 830
2, 030
15, 985
2,008
16, 022
1,984
16,073
•• 1, 961
16,190
v 1, 943
16, 191
p 1, 925
16,295
* 1,908
16,509
v 1, 890
30, 655
31,568
32, 471
32, 896
33,636
34,293
34,640
35 059
36 225
23, 513
24,149
24, 914
25, 476
26, 155
26, 699
26, 963
27,247
27, 895
10,396
10, 641
11,482
12, 561
10,459
11,985
13, 038
11,053
Auto mobile paper
do
5,668
5, 609
5, 484
5, 492
5,639
5, 676
5, 655
5,479
Other consumer-goods paper
do
1,562
1, 616
1,574 1
1,534
1,570
1,530
1,550
1, 546
Repair and modernization loans
do
5,152 ! 5, 192
4,787
5,063
4,794
4,833
4,912
5, 005
Personal loans.
__
__ _ - _ . .-. do
r
!
Revised.
v Preliminary.
Data are for 344 centers.
d* Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
9 Includes data not shown separately.
O Exclusive of loans to banks and after deduction of valuation reserves; individual loan items are shown gross.
§ For bond yields, see p. S-20.
13, 547
5,762
1,589
5,257
13, 929
5,848
1,611
5,311
14, 095
5,917
1,627
5, 324
14, 172
6,057
1,634
5,384
14, 312
6 435
1,641
5. 507
11
th
rl
t 'n
percent
do
"ti
Discount rate (N Y F R. Bank)
Federal intermediate credit bank loans
Federal land bank loans
Open market rates, New York City:
Acceptances, prime, bankers' 90 days
Commercial paper, prime. 4-6 months
Call loans, renewal (N. Y. S. E.)
Yield on U. S. Govt. securities:
3-month bills
3_5 year taxable issues
do
do
_do .._
- do
do
Savings deposits, balance to credit of depositors:
New
York State savings banks
mil of dol
LT. S. postal savings
-....do _ . _
Installment credit, total
3 93
3.76
3 95
4 17
3 77
3.54
3 76
4 11
|
CONSUMER CREDIT
(Short- and Intermediate- term)
Total outstanding end of month
3.56
3.30
3 55
3.95
3 54
3.29
3 55
mil of dol
do
30. 125
29, 760
29,518
29, 948
22, 467
22, 436
22, 508
22, 974
698
•-:::::::
16 584
SURVEY OF CURRENT BUSINESS
February 1956
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
S-17
1955
J
a?y" | Fear™' | Mareh
April
June
May
1956
July
Septem- October Novem- December
ber
ber
August
January
FINANCE—Continued
CONSUMER CREDIT— Continued
(Short- and Intermediate-term)
Total outstanding, end of month— Continued
Installment credit — Continued
By type of holder:
Financial institutions, total
mil.
Commercial banks
Sales-finance companies
Credit unions
Other
Retail outlets, total
Department stores
Furniture stores
Automobile dealers
Other
1
of doL
do
do - _
do
do _
do---.
_ do
- do
do
do .
- _
_ _
--
19, 153
8,688
6, 570
1,298
2, 597
19,613
8,844
6,808
1,330
2, 631
3,53
1,20
890
394
1,047
3, 459
1.158
862
397
1,042
3, 355
1,108
848
404
995
3, 361
1,123
838
420
980
i
20, 127 1 20, 718 ! 21, 432
9,020 ! 9, 228 ! 9, 495
7,747
7,390
7,077
1,434
1,360 1 1,395
2, 756
2. 670
2, 705
3, 386
1,138
834
437 !
977 1
3, 482
1,160
851
481
990
3,431
1.150 !
842 i
457
982
21,980
22, 605
9, 656
9,871
8,087
8,422
1,495
1,458
2,779 | 2. 817
I
3, 496
3,550
1,155
1. 167
856
871
501
523
984 i
989
23,86
10, 34
8,93
1.58
2,99
23,10
10,06(
8.667
1. 528
2,846
23, 324
10, 145
8,771
1.547
2,861
23, 524
10,227
8,825
1,556
2, 916
3. 598
1. 191
878
538
991
3, 639
1,203
889
54f>
1.001
3,723
1,251
909
5-50
1,013
4,03
1,42
95f
55f
1,09"
7, 658
7. 324
7,010
6, 974
7,142
7,419
7,557
7, 420
7,481
7. 594
7,677
7,812
8,33(
do ._
do ...
do
2,420
3, 518
1,720
2, 371
3,225
1,728
2, 427
2,831
1, 752
2,481
2, 735
1,758
2.496
2. 859
1,787
2, 589
3,011
1,819
2, 686
3, 040
1.831
2, 59"
2,991
1,834
2,629
3,019
1,833
2,657
3, 108
1,829
2, 66f
3,218
1,793
2, 757
3, 285
1,770
2,77t
3,79"
1, 75"
do _ _
do
- do
2,420
3,518
1,720
2, 371
3 225
1, 728
2, 427
2. 831
I! 752
2,481
2, 735
1. 758
2, 496
2, 859
1.787
2, 589
3, 01 1
1,819
2,686
3, 040
1,831
2, 595
2,991
1, 834
2,629
3,019
1, 833
2. 657
3, 108
1.829
2,666
3,218
1,793
2, 757
3, 2a5
1,770
2, 77f
3, 797
1, 757
__do
_- do
- do __
do
3. 046
1,184
936
926
2,389
1,060
616
713
2,416
1, 167
529
720
3,159
1, 569
708
882
3, 089
1,512
703
874
3. 206
1,616
741
849
3. 443
1, 766
766
911
3,131
1, 594
711
826
3, 436
1,745
793
898
3, 241
1,592
783
866
3. 051
1,417
785
849
3,103
1,341
850
912
3, 508
1,369
1,090
1,049
-- do
do -_
do
- - do _
2, 593
1, 084
666
843
2, 420
997
675
748
2,344
985
654
705
2,693
1,157
713
823
2, 550
1,083
690
777
2, 570
1,113
678
779
2. 678
1,190
682
806
2,569
1,117
674
778
2,757
1,236
707
814
2.697
1, 210
697
790
2,787
1,251
716
820
2,819
1,264
710
845
2, 860
1, 229
712
919
do ...
do
do do_ -.
2,762
1,298
679
785
2,823
1,233
788
802
2,898
1,382
660
856
3, 035
1,472
741
822
3,017
1,404
736
877
3, 091
1. 517
'736
838
3, 165
1. 580
754
831
3,122
1,510
791
821
3,200
1,559
770
871
3, 279
1.613
756
910
3. 064
1.467
721
876
3, 175
1,429
802
944
3,185
1. 503
792
890
- do
do. ...
do
- do ~
2,488
1,083
643
762
2,496
1,020
684
792
2, 521
1,071
680
770
2,562
1,096
683
783
2,552
1,093
672
787
2, 634
1, 139
687
808
2,612
1, 165
678
769
2,602
1,132
697
773
2, 714
1,195
720
799
2,691
1, 173
696
822
2, 773
1.231
719
823
2.830
1,280
699
851
.2, 747
1,228
690
829
mil. of dol .
do ..
do^ _ - - do
do _ . _
- do
4,217
3,742
47
3, 204
801
165
4,833
4,655
48
3,638
716
430
5, 954
5,427
47
4, 857
774
276
11, 089
9,741
60
9,906
995
127
4, 941
3,732
51
3,976
795
119
6,119
4, 438
56
4, 849
939
276
11,279
10. 125
57
9,921
989
311
3,089
2,765
54
1,924
877
234
5,848
4, 734
55
4, 459
945
390
6,180
5,498
57
4.968
947
208
2,998
2,692
62
1.873
890
173
5, 527
4, 662
65
4,215
1,008
240
5,337
4, 889
56
3,962
879
440
do_...
- do - _do-_.
do
do ...
6,288
1,200
401
3,739
947
4, 942
222
379
3,176
1, 166
4,831
396
365
3, 048
1,022
5,894
478
386
3,759
1, 271
5, 228
355
383
3,382
1, 108
5, 356
443
381
3,346
1,187
6, 753
1, 476
398
4,146
733
5,382
592
364
2,863
1,564
6. 225
522
434
3, 420
1,850
5, 340
529
363
3,611
837
5, 355
542
364
3. 161
1,288
5, 172
542
P426
p 3, 116
v 1,089
5, 651
595
P408
P 3, 477
P 1, 170
278, 439
275, 696
233, 427
42, 268
2,743
278, 182
275, 565
233, 517
42, 047
2,617
274, 048
271, 200
229, 103
42, 097
2, 847
276, 649
273, 924
232, 233
41, 691
2, 725
277, 472
274, 804
232, 563
42, 240
2,668
274, 374
271, 741
228, 491
43,250
2, 633
277, 584
274, 955
231,615
43, 340
2,629
278, 309
275, 711
231, 472
44, 238
2, 598
277, 476
274. 879
230! 988
43, 891
2, 597
279. 818
277, 277
233, 619
43, 657
2,541
280, 136
277, 628
233, 615
44, 013
2,508
280, 769
277, 799
233, 873
43, 926
2,970
-
- -_
--
Installment credit extended and repaid:
Unadjusted:
iCxtended total
Automobile paper
Other consumer-goods paper
All other
- -~
Repaid total
Automobile paper
Other consumer-goods paper
All other
Adjusted:
Extended total
Automobile paper
Other consumer-goods paper
411 other
18, 977
8,651
6,462
1.282
2, 582
do —
Noninstallment credit, total
Single-payment loans
Charge accounts
Service credit
By type of holder:
Financial institutions
Retail outlets
Service credit
18, 93
8,63
6,42
1,29
2,58
-
- --
Repaid total
Automobile paper
Other consumer-goods paper
All other
:
in
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 security
All other expenditures
-
Public debt and guaranteed obligations:
Gross debt f direct) end of month, total
-do _ 278, 750
275, 731
Interest bearing total
do
Public issues
-~ -do. .- 233, 165
42, 566
Special issues
do
3,019
Noninterest bearing
do
Obligations guaranteed by U. S. Government, end
34
of month
mil. of dol- .
U. S. Savings bonds:
58, 358
Amount outstanding end of month
- do
557
Sales Dories F through K
do
633
Redemptions
_ do ...
Government corporations and credit agencies:
Assets, except interagency, total
mil.
Loans receivable total (less reserves)
To aid agriculture
-. To aid homeowners
Foreign loans __ _ _ - ..
\ll other
Commodities, supplies, and materials
U. S. Government securities
Other securities and investments
Land, structures, and equipment
All other assets
of deldo
do -_
do
do _ . _
do
do
do
do
do
do
1
24
27
33
37
43
44
42
43
48
48
53
53
53
58, 456
742
58. 605
602
543
58, 701
614
605
58, 639
535
682
58, 64]
488
581
58, 643
496
619
58, 672
494
589
58, 703
487
543
58, 532
462
722
58, 494
451
574
58,501
438
526
58, 548
466
545
58, 193
645
1, 126
772
41, 403
19,348
6,929
2,907
8,001
1, 739
41, 996
19, 782
7,466
3,013
7,968
1 593
40, 639
18 927
6, 362
3 095
8, 032
1 932
3,852
2,967
3,432
8,046
3,758
3,612
3,187
3,429
7,982
4,004
3, 475
3 108
3 430
7,821
3 87s
5,605
5,285
Liabilities, except interagency, total
do
4, 900
1.88?
Bonds, notes, and debentures
.__ . _do ....
1,592
1.101
i
3 01 Q .
Other liabilities
_ do
4. 183
4,013 j;
508
543
!
/ifi8
Privately owned interest
do
U. S. Government interest
do
' 35, 610
35,848
! 35,171
r
Revised.
> Preliminary.
i Effective with the fiscal year ended June 30, 1955, changed from a due and payable basis to an accrual basis.
280, 049
277, 170
233, 584
43, 585
2,879
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
February 1950
1955
January
February
March
April
May
1956
June
July
August
Septem- October Novem- December
ber
ber
January
FINANCE—Continued
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U. S. life insurance companies
mil. of doLBonds (book value), domestic and foreign, total
mil. of doLU. S. Government
do
State, county, municipal (IT. S.)
__.do
Public utility (U. S.)
.
-do .
Railroad ( U S )
do
Industrial and miscellaneous (U.S.)
do. Stocks (book value), domestic and foreign, total
mil. of doLPreferred (U. S.) .
. ...
...do .-Common (U. S.)
do
Mortgage loans, total
do _ .
N on farm
do
Real estate
do - .
Policy loans and premium notes
do
Cash
do
Other assets
. - . ._
do _ _ _
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance):©
Value, estimated total
mil ofdol
Group and wholesale
.do ._
Industrial
do
Ordinary, total©
_
.._ __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:
Premium income (39 cos ), total^f
do
Accident and health
do
\nnuities
do
Group
do
Industrial
do
Ordinary
do
84, 068
84, 912
85, 324
85, 627
86, 061
86, 515
86, 967
87, 636
88, 087
88, 529
89, 016
89, 491
46, 184
9,021
1, 833
13, 065
3 682
16, 002
46, 653
9,233
1,940
13, 140
3 705
16. 063
46, 690
9,242
1,977
13, 154
3 719
16, 092
46, 764
9,091
1,964
13, 191
3 716
16, 293
46, 900
9,105
1,965
13, 205
3 724
16, 395
47, 005
9,058
1,956
13, 203
3 774
16, 519
47, 087
9,046
1,957
13, 236
3 771
16, 594
47, 350
9,096
1,979
13, 309
3 771
16, 732
47, 414
9,179
1,979
13, 319
3 776
16, 704
47, 578
9,129
1,983
13, 366
3 786
16, 858
47, 742
9,027
1,990
13. 400
3 877
16,985
47, 743
8,891
1,987
13 457
3 871
17,070
2,710
1.693
1,012
25, 928
23, 882
2,275
3,087
1,200
2,684
2, 756
1, 715
1,036
26, 223
24. 171
2, 310
3, 127
1, 140
2, 703
2,763
1,714
1, 044
26, 474
24, 405
2, 344
3.144
1,111
2,798
2, 773
1,707
1, 059
26, 727
24, 629
2,367
3, 159
1,029
2.808
2,791
1,711
1,073
26, 949
24, 824
2, 381
3,177
1,027
2, 836
2, 787
1,696
1,084
27, 217
25, 067
2 407
3, 190
1,067
2,842
2,829
1,709
1,112
27, 483
25, 310
2,420
3,207
1,064
2, 877
2,869
1,724
1 137
27, 748
25 551
2,453
3 230
1 094
2,892
2, 875
1,728
1 139
28, 001
25 787
2,471
3 245
1, 169
2,912
2, 870
1.720
1.142
28, 250
26, 025
2,492
3,260
1,142
2,937
2,879
1,719
1 152
28, 563
26 320
2,506
3 271
1, 133
2,922
2,899
1 731
1 160
28 868
26 613
2, 523
3 283
1,200
2, 975
4,137
1, 159
510
2,468
150
536
522
215
286
103
233
98
297
3,104
386
516
2,202
158
525
467
180
237
92
214
77
251
3, 358
620
544
2, 194
151
520
471
179
247
92
202
83
250
3, 830
462
590
2,778
188
641
585
226
311
116
275
107
328
5, 645
2,602
540
2, 503
162
578
524
201
296
109
240
96
298
3,641
452
607
2, 582
174
597
539
205
310
110
241
101
304
4,026
711
570
2,745
186
641
567
230
325
112
258
102
324
3 588
647
528
2,413
154
546
514
206
289
102
224
92
285
3,674
568
540
2,566
154
540
555
214
320
111
251
100
321
3,746
833
561
2,352
147
499
508
201
290
105
229
91
281
3 710
579
571
2,560
163
573
562
202
319
109
234
102
296
4,598
1,336
549
2,713
177
617
586
211
338
123
243
102
317
525, 998
207, 594
54, 241
9, 795
40, 551
71, 445
142, 372
477,058
182, 799
58 328
10, 588
47, 722
74, 776
102 845
424, 607
176, 943
51, 320
8, 869
38, 307
73, 883
75 285
498, 084
201, 474
58, 805
9,216
39,210
86, 702
102 677
419, 386
180, 933
45,512
9,064
33, 921
73, 970
75 986
439, 941
187, 324
50,619
9,171
36, 427
76, 500
79 900
444, 925
183, 192
50, 254
9,236
38, 655
75, 608
87 980
398, 481
167, 650
44 147
8, 659
35, 454
66, 159
76 412
442, 123
199, 661
48, 500
9, 062
36, 983
76, 312
71 605
421,191
180,095
44, 423
8.674
38, 327
67, 737
81 935
425, 367
182, 028
51, 605
8,800
39, 519
73, 861
69 554
435, 673
189, 453
53, 464
9,207
39, 485
71,667
72 397
907, 544
102, 185
175, 582
70, 301
128, 007
431, 469
2,174,366
286, 266
298 036
232, 210
251 671
1,106,183
2,058,101
293, 953
236 984
201,277
218, 293
1,107,594
5 857
2,258
511
3, 088
192
680
665
248
363
129
292
136
383
2,069,637
299, 608
255 004
207, 207
216 461
1,091,357
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U. S. (end of mo.) ...mil. ofdol
Net release from earmark §
do
Exports
thous of dol
Imports
- do
Production, reported monthly total 9
-do Africa
do
Canada
do
United States
do . Silver:
Exports
do
Imports
__
-_
-_
do
Price at New York
dol. per fine o z _ _
Production:
CanadaO
thous of fine oz
Mexico
_____
__
._
do
United States
do
Money supply (end of month) :
Currency in circulation
mil. of doL _
Deposits and currency, total
do
Foreign banks deposits, net
_ _ do
U S Government balances
do
21,713
1.8
2,363
3,024
71, 300
45, 500
13, 500
5,800
21, 714
-9.7
788
3,016
70, 400
45 800
12 800
5,000
21,716
-.8
689
3, 905
67, 900
43, 800
12 300
4,800
21,719
-27.7
674
3. 388
73, 300
47 200
13 000
5, 400
21, 671
-41.8
182
2,658
71,400
46 800
12 900
5,000
21, 674
-1.0
314
4,854
21, 678
694
4,511
21, 682
—.1
859
2, 476
21, 682
—2.9
183
3,794
21, 684
10.6
969
5, 392
21, 686
-7.1
230
10,645
21, 688
-27.0
778
32, 648
47, 600
13, 400
5,300
47, 400
13, 000
5,600
48, 500
13 500
4,100
49 100
13, 500
5, 900
48, 500
13, 800
7,000
13 800
6, 800
6,300
233
5,795
.853
640
4,321
.853
290
6, 351
. 853
1,695
5,840
.873
138
5,223
.871
236
3,999
.889
290
7,423
.897
210
6, 549
.905
261
5, 818
.908
649
'7,299
.908
910
6, 717
.918
522
6, 655
.915
2, 365
3,029
3, 169
2, 175
4, 908
3, 416
1, 961
6, 726
2, 753
2 386
4,660
3 560
2, 270
3,922
3,068
2, 236
3, 415
3,075
2, 462
3.035
3, 089
2, 386
3,691
596
2,482
3,053
2,005
2, 332
2,836
2,840
30, 509
218,882
3, 329
5,869
29, 789
217, 500
3,200
5,000
29, 817
216 000
3, 100
6,000
29, 800
214 500
3, 200
6, 100
29, 769
216, 900
3,100
6, 400
30, 009
216, 600
3,200
6, 700
30, 244
30, 559
30, 993
30, 317
30, 422
31, 158
30, 229
217, .595 P218. 800 p218, 200 P218, 800 P220, 700 P221, 200 P224, 300
3, 247 P 3, 300 p 3, 100
p 3, 200 v 3, 200 P 3, 200 P 3, 200
6,610 p 7, 400 v 6, 400 P 5, 800 f> 6, 200 p 5, 800 p 5, 300
Deposits (adjusted) and currency, total . -.do -- 209, 684
106, 550
Demand deposits adjusted
do
75, 282
Time deposits
_
_ _ _ _
__ , do
27 852
Currency outside banks
do
Turnover of demand deposits except interbank and
U.S. Government, annual rate:
48.1
New York City
ratio of debits to deposits- 28.1
0 other centerscft
-- - do. _ _
338 other reporting centers t
do
21.0
209, 200
107 000
75, 400
26 800
206, 900
104 500
75, 700
26 800
205, 300
102 400
76, 200
26 700
207, 400
104 500
76, 200
26 700
206, 700
103 300
76, 500
26 800
207, 738 p208, 100 p208, 600 p209, 700 »211, 300
103, 234 "103, 900 pl()3 900 P104 900 ?106 100
77, 129 P77, 100 p 77, 400 v 77, 700 p 77, 900
27 375 p27 100 t> 27 300 p 27 200 » 27 300
42.0
25.4
19.6
41.9
26.4
19.6
41.7
30.2
20 0
37.3
27.1
i 19.2
1
42.7
28.4
20.6
g
1
44.7
28.3
20.8
1
40.7
26.6
20.4
T
1
38.2
25.9
19 9
1
43 5
27.4
21 1
r
21,690
-23. 8
591
27, 305
721
6, 736
.905
.904
2,290
2,432
1
44.7
26.5
20 3
3,087
P212, 200 P215, 700
pl06 900 P109 700
p 77,400 P 78, 200
P 27 900 p 27 900
1
45.4
*29.0
J>22 0
51 3
p 28.3
v p 21 9
PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Fed. Trade and SEC):
3,878
3 057
3 735
Net profit after taxes all industries
mil of dol
3 335
255
223
201
301
Food and kindred products
do
79
37
81
Textile mill products
- do
87
Lumber and wood products (except furniture)
82
57
64
85
mil. of dol_154
127
154
Paper and allied products. _ _
do
130
T
l
Revised.
v Preliminary.
Data for 337 centers.
0 Revisions for insurance written for January-August 1954 are shown in the November 1955 SURVEY. Revisions for silver production in Canada for January-September 1954 are shown
ill the December 1955 SURVEY.
© Data for January-December 1954 include revisions not distributed by regions.
1 Effective with 1955, data are quarterly totals.
§ Or increase in earmarked gold (—).
9 Includes data not shown separately.
concludes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
% Revisions beginning with 1943 appear on p. 24 of the October 1955 SURVEY.
SURVEY OF CURRENT BUSINESS
February 1956
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
S-19
1956
19 55
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
January
FINANCE—Continued
PROFITS AND DIVIDENDS— Continued
Manufacturing corporations — Continued
Net profit after taxes— Continued
Chemicals and allied products,
mil. ofdol
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...
Dividends paid (cash), all industries
...do __
Electric utilities, net profit after taxes (Fed. Res.)
mil of dol
Railways and telephone cos. (see pp. S-23 and S-24).
327
662
116
134
230
364
575
111
159
262
413
566
1P2
18?
345
429
600
190
157
312
81
175
203
111
224
167
132
298
173
158
269
172
105
275
305
102
501
278
115
578
316
99
359
369
2,002
1,422
1, 436
1,565
288
341
296
284
SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
capital and refunding)
_
. mil. ofdol
New capital, total
do
Domestic, total..
__ .
.
_. do _.
Corporate
do
Federal agencies
do
Municipal, State, etc.
.do _
Foreign
_ __
do
2,043
1,569
1,522
654
0
868
47
1,446
1,114
1,015
431
52
533
98
864
729
726
382
32
313
3
2,003
1,663
1, 632
1 067
49
517
31
1,244
975
959
509
31
419
16
1,324
1, 123
1, 121
749
36
336
2
1, 628
1 493
1 492
592
236
664
1
475
Refunding, total 9 _ _
do
450
Domestic, total-.
__
do 368
Corporate do
63
Federal agencies
„
do- _.
19
Municipal, State, etc
- .
do
Securities and Exchange Commission:
2,552
Estimated gross proceeds, total
do
By type of security:
2,387
Bonds and notes, total __
..
do
854
Corporate
do
103
Common stock
.
do
62
Preferred stock
. ...
do . _ _
By type of issuer.
1,019
Corporate, total 9
do
189
Manufacturing.._
do ...
75
Mining
do
463
Public utility. -. _
- do _ .
62
Railroad
do
44
Communication
---do 110
Real estate and
financial
do
1,534
Noncorporate, total 9 __ .
_ . _ do. 557
U S. Government
,
do
State and municipal ....
. do 906
New corporate security issues:
1,004
Estimated net proceeds, total
do.__
Proposed uses of proceeds:
515
New money, total
do
367
Plant and equipment
do_-_
147
Working capital
do
400
Retirement of securities
do
89
Other purposes _
- .. .
do _ _ _
State and municipal issues (Bond Buyer):
906, 056
Long-term
thotis of dol
327, 572
Short-term
_ _
do -
332
332
134
192
6
135
135
45
80
11
340
340
137
194
9
269
269
173
91
6
201
201
84
115
3
135
135
92
41
2
2,706
1,431
2,583
1,654
4,399
1,947
2,487
1 656
1 640
T
T
2, 695
r
1,850
1,916
' 1,573
r
719
192
86
1, 765
1, 001
113
38
2,518
484
135
53
1,294
364
113
25
2,033
871
512
37
1,453
475
146
54
4,095
694
209
95
1,684
533
206
57
2 333
583
101
53
1 440
672
200
16
1 466
574
93
82
672
190
20
242
64
7
98
2,034
742
541
501
86
13
111
1
45
149
930
602
328
1,420
644
49
226
25
27
386
1, 163
614
540
675
172
31
218
93
19
116
979
535
429
998
435
15
249
13
25
185
3,401
3,020
350
796
180
82
280
18
71
82
1, 151
496
651
737
358
32
105
4
46
129
1 750
1 265
470
887
173
29
91
187
92
281
768
509
259
749
190
52
224
31
29
166
892
481
407
660
492
1,396
659
977
778
723
870
735
r
1, 282
r
705
985
r
1, 125
'997
r
!28
r
75
r
82
'592
'459
r
!33
r
73
r
39
807
554
253
64
114
925 818 r QQl 017
136* 646 242 810
397 355
148, 913
2, 492
' 1,r 299
!59
r
43
r
1,299
••138
'28
r
!70
66
r
698
r
l!2
1,396
461
926
r
719
J-201
14
••287
12
r
40
r
90
r
1,132
438
r
661
1,001
377
50
275
52
36
94
915
466
397
465
325
140
114
81
362
177
185
56
74
1,190
759
431
135
71
444
260
185
165
50
791
567
224
74
112
635
440
194
81
62
514
247
057
140
69
623
287
335
216
32
562
368
194
55
118
541, 449
191,319
327, 527
262, 627
539, 767
209. 769
429, 030
200, 591
349 648
149, 768
650 780
218, 322
470 161
301 267
258 707
330 455
407 314
200 458
348
2,443
1, 023
1,616
2,558
1,069
1,696
2,653
1.063
1,779
2,701
1,022
1,939
2,752
973
2, 062
2,731
928
2,119
337
2 757
917
2,093
2 780
918
2 080
2, 752
887
2,064
2 848
977
2 124
2 789
920
2 159
2 796
'876
2 260
2 820
895
2 298
100. 07
100. 43
78.92
99. 05
99.39
79.06
98. 41
98. 76
78. 05
98.62
98.97
78.55
98.27
98. 59
79.06
98.36
98.67
80.36
97. 91
98 19
80 28
96.98
97 24
80 92
96.95
97. 19
82 10
97 44
97 71
81 82
98 07
98 35
81 27
97 65
97 96
79 06
97 08
97 37
78 91
117.0
126.6
98.97
116.7
125. 4
97.88
115. 7
124.9
96. 97
115. 4
124. 4
97.08
115.2
124 9
96.31
114.7
125. 1
96.53
114.5
123 9
96 37
114.3
121 4
94 96
113.3
120 5
94.51
113.1
121 3
94 87
113.5
122 5
95 83
113. 7
122 7
95 46
112.4
119 8
95 07
150, 401
155, 797
115, 121
129, 547
86, 843
90, 703
93, 992
100, 868
80, 463
89, 342
82 141
90, 512
108 696
111 629
93 547
96 276
82 604
83 401
106 046
108* 464
195 875
177 186
90 762
87 870
9^ 283
95 692
147, 784
152. 634
111,885
126, 209
84, 516
88. 119
92, 031
97. 287
78, 899
87. 152
80, 249
86, 856
106 849
108. 668
91 216
90. 405
80 549
80. 933
104 134
l()fi. 239
194 268
175. 133
88 662
85. 283
93 795
93. 748
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 ..
Bonds
Prices:
Average price of all listed bonds (N. Y. 8. E.),
total§ . . _ .
dollars .
Domestic
_ _
--do -.
Foreign
do
Standard and Poor's Corporation:
Industrial, utility, and railroad (Al-j- issues):
Composite (17 bonds).
dol. per $100 bond-Domestic municipal (15 bonds)
do
U". S. Treasury bonds, taxable . ._ - do
Sales:
Total, excluding U. S. Government bonds:
All registered exchanges:
Market value
,
-thotis. of dol
Face value
_. do...
New York Stock Exchange:
Market value.-.
-do - _ .
Face value
do
r
Revised.
p Preliminary.
9 Includes data not shown separately.
§ Data for bonds of the International Bank for Reconstruction and Development, not shown separately, are included in computing average price of all listed bonds,
121 3
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
February 1950
1955
January
February
March
April
May
1956
June
July
August
Septem- October Novem- December
ber
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
U. 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. .
Aa
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 - _
Stocks
Cash dividend payments publicly reported:
Total dividend payments
mil. of dol
Finance
_ _ _ _ _ _
_ __do
Manufacturing
_ do
Mining
_-do .
Public utilities:
Communications
do
Electric and gas
- _
do _
Railroad
do
Trade
_ . . _ do
Miscellaneous
do
Dividend rates, prices, yields, and earnings, common
stocks (Moody 's):
Dividends per share, annual rate (200 stocks) .dollars _ .
Industrial (125 stocks)
do
Public utility (24 stocks)
_ . __ . - do Railroad (25 stocks)
do
Bank (15 stocks)
do Insurance (10 stocks)
do
Price per share, end of month (200 stocks) 9 - - -do
Industrial (125 stocks)
do
Public utility (24 stocks)
do
Railroad (25 stocks)
.do
Yield (200 stocks)
percent
Industrial (125 stocks)
- do . .
Public utility (24 stocks)
do
Railroad (25 stocks)
_ . . _ . - _ . - - do
Bank (15 stocks)
do
Insurance (10 stocks)
do
Earnings per share (at annual rate), quarterly:
Industrial (125 stocks)
dollars
Public utility (24 stocks)
do
Railroad (25 stocks)
do
Dividend yields, preferred stocks, 11 high-grade
(Standard and Poor's Corp.)- --percentPrices:
Dow-Jones & Co., Inc.3 (65 stocks)
dol. per share. .
Industrial (30 stock' )
do
Public utilitv (15 stocks)
do
Railroad (20 stocks)
. do ...
Standard and Poor's Corporation:
Industrial, public utility, and railroad: cf
Combined index (480 stocks) ...
1936-39=100..
Industrial, total (420 stocks) 9
do
Capital goods (128 stocks)
.
do
Consumers' goods (195 stocks)
do
Public utility (40 stocks)
.. do ..
Railroad (20 stocks) __
do
Banks, N. Y. C. (12 stocks)
do
Fire insurance (16 stocks)
_ _ _ _ _ . do - . Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
mil. of dol
Shares sold
_
_ thousands
On New York Stock Exchange:
Market value
. . - mil. of dol- .
Shares sold
thousands
Exclusive of odd lot and stopped sales (N. Y.
Times)
.
..
thousandsShares listed, New York Stock Exchange:
Market value, all listed shares
_ - mil. of dol
Number of shares listed
millions
T
126,487
0
126,487
118, 359
8, 051
101,100
4
101,096
93, 654
7. 356
79. 992
4
79, 988
73,110
6,819
81 373
0
81, 373
73, 806
7, 547
80 570
0
80, 570
74, 930
5, 592
76 572
0
76, 572
64, 444
12. 041
99 554
0
99, 554
89 672
9,846
79 184
0
79, 184
71 587
7, 535
87 826
0
87, 826
82 368
5 445
119 758
1
119, 757
114 398
5 329
83 974
5
83, 969
78 916
5' 026
75 397
Q
75 397
69 708
5' 668
80 651
106, 517
104, 442
1,403
106. 438
103,995
1,778
105. 476
103, 351
1, 456
106, 491
103. 985
1,841
104,518
102,427
1,433
106,204
103,713
1. 836
104, 349
102, 266
1,428
105, 806
103 334
1,818
104. 344
102,238
1 , 449
106. 184
103, 696
1,833
104,459
102,314
1.487
106,200
103,694
1,851
104, 282
102, 181
1,443
106. 513
104 061
1.797
104, 002
101.892
1 454
107, 237
104 785
1,797
103,997
101, 853
1, 496
107, 273
104 796
1,822
104 548
102 416
1 487
107 291
104 818
1 817
106 110
103 982
1 477
108 199
105 727
1 817
105 501
103' 449
l'40^
108 039
105' 607
1 777
104 750
102 701
1 399
107' 898
105 471
1 772
3.13
3.15
3.18
3.20
3.21
3.23
3.23
3.24
3 29
3.31
3 30
3 29
3 33
3 30
2.90
3.04
3.14
3.45
2.93
3.06
3. 15
3.45
2.99
3. 10
3.17
3.47
3.02
3. 13
3.18
3. 4«
3.01
3. 13
3.19
3.49
3.04
3.15
3.21
3.50
3. 05
3.14
3. 22
3.51
3.06
3.14
3.24
3.52
3
3
3
3
11
20
28
56
3.13
3 ?2
3.31
3 59
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3.07
3.10
3.23
3 08
3.12
3. 25
3 12
3. 15
3.28
3 14
3.17
3 31
3 14
3.17
3.30
3 17
3.19
3.32
3 18
3.21
3.31
3 18
3.22
3.32
3 25
3 26
3 36
3 25
3 29
3 40
3 23
3 27
3 38
3 22
3 28
3 38
3 26
3 31
3 42
3 23
3 28
3 40
2.36
2.33
2.57
2.43
2.39
2.65
2.45
2.42
2.72
2.42
2.45
2.71
2.40
2.43
2.77
2.39
2.41
2.75
2.48
2.48
2.76
2 56
2.62
2.87
2 63
2 67
2 91
2 53
2.63
2 88
2 45
2 56
2 82
2 52
2 55
2 85
2 58
2 71
2 88
2 64
1, 978. 4
239. 2
1.261.8
138. 2
721.1
142.0
233.7
4.7
259. 5
70.8
85. 5
2.2
1, 340. 4
91.0
869.2
100.1
669. 0
118.8
235. 2
7.1
251. 3
62.0
104.8
3.3
1, 390. 3
93.6
909.6
104.0
669.2
142.3
221.8
7.3
263 3
56.1
107 9
3.1
1 488 4
108.5
985 7
113 2
669 0
128 5
234 9
91
42.5
118. 0
88.9
47.6
42.2
121.8
81.1
32. 9
93.5
11. 4
1.3
67.9
10.2
17.0
4.6
39.3
111.0
64. 5
38.7
26.6
126. 4
85.1
23.9
57.0
15. 5
1.4
61.9
4.5
8.3
5.1
40.4
112.9
62.5
38.6
28.7
127.5
86.9
18.0
57.5
7.9
4 3
71 1
6 5
8. 1
6 2
38
114
58
41
28
4.43
4.73
2.14
3.14
3.15
3.37
105. 40
115. 64
47. 56
64.27
4 20
4.09
4.50
4.89
4.09
2.52
4.48
4.79
2.14
3.19
3.15
3.39
106. 21
116. 83
46. 94
64.35
4.22
4.10
4.56
4.96
4.14
2.58
4.56
4 90
2.14
3 23
3.15
3 39
108. 30
118.49
48.59
67.42
4.21
4.14
4.40
4.79
4. 06
2 51
4.59
4 92
2 18
3 23
3 14
3 49
108. 90
117.61
47 97
67.42
4 21
4.18
4 54
4.79
3 89
2 58
4.60
4.93
2.18
3.36
3.15
3.49
111.68
122.40
49.12
72.21
4.12
4. 03
4.44
4. 65
3.94
2.50
4.62
4.95
2.21
3.36
3.15
3.49
111.49
122. 15
48. 54
71.63
4. 14
4.05
4.55
4.69
4.06
2. 49
4.63
4.95
2.23
3.40
3.15
3.49
119.66
133.41
49.21
72. 96
3.87
3.71
4.53
4.66
4.01
2.40
4.66
5 00
2.23
3.42
3.15
3.49
123. 15
137. 85
51.39
71.63
3.78
3.63
4.34
4.77
3 95
2 45
4.79
5 18
2.23
3 42
3. 15
3 49
122. 44
137. 59
51 43
71.06
3 91
3.76
4 34
4.81
3 93
2 56
9 43
2.94
9.97
10 90
3.08
8.86
9 70
3 03
7 00
9
2
6
1
2
4.81
5 20
2 24
3 42
3 23
3 49
122. 51
138.21
49 83
69. 60
3 93
3 76
4 50
4 91
4 06
2 67
10
19
30
59
128
87
17
55
7
10
18
29
58
294
S5
112
2
6
2
2
0
5
2
4
7
7
1 5
73 4
34
97
7 2
4.90
5 30
2 24
3 60
3 23
3 49
119.02
133. 96
48 53
67 42
4 12
3 96
4 62
5 34
4 16
2 73
5.19
5 69
2 27
3 70
3 26
3 60
126. 95
143. 78
49 q0
74 47
4 09
3 96
4 55
4 97
4 09
2 63
15
22
33
62
11
19
30
60
9 86
2 418 7
265 8
1 547 0
' 230 5
42
126
117
51
38
1
4
4
3
2
5. 20
5 71
2 27
3 79
3 30
3 63
127.97
145. 67
49 35
72 29
4 06
3 92
4 60
5 24
4 22
2 69
5. 22
5 72
2 27
3 86
3 30
3 65
123.91
140. 11
49 10
70 76
4 21
4,08
4 62
5 46
4 41
•> gr,
10 20
3 13
9 18
3.93
3.98
4.00
4.01
3.98
3.99
3.98
3.96
4.01
4.06
4.04
4 01
4 05
4. 03
145. 81
393. 84
61.43
139. 64
147. 98
398. 43
62.39
142. 45
151.70
410. 25
63.29
145. 64
152. 75
408. 91
63.87
149. 06
158. 35
422. 99
64. 56
157. 51
157.89
421 . 55
64.06
157.75
162. 77
440. 79
64. 23
161.16
166. 90
462. 16
65. 51
158. 98
164.94
457. 29
65.87
155. 19
169. 99
476 43
65.36
160 08
160. 92
452 65
62. 31
149 99
169. 48
476 59
64 76
159 29
172. 36
484 58
64 98
163 34
168. 18
474 75
63 60
157 94
264.5
296.7
296.8
228.7
144.0
217.5
147.6
295. 9
268.8
301.9
302.7
232.2
145. 1
222.4
1 50. 5
302.3
278.1
312.4
316.2
235. 0
149.6
231.9
153.9
311.1
277.5
310.8
315.3
233.8
150.4
237.9
157.3
312.4
286.2
321. 5
330.2
241.0
151.8
252. 1
164.2
322. 5
285.0
319.7
331.9
239.8
152.3
250.9
156. 7
327.0
300. 7
340.5
356.2
250. 6
153.4
258.9
157. 2
331.4
315.3
359.6
369.1
270.0
156.4
256. 1
158.4
334.5
311.0
354 2
361.6
269. 1
155. 9
250.0
160.4
320.5
323. 2
371 1
380 3
282.8
154 8
257.0
165 3
314.9
306.2
350 1
350 6
272. 6
150 6
240.5
157 5
293 1
321.5
369 2
370 2
285.9
153 8
254 6
160 9
309 3
3,714
135, 762
3,996
142, 277
3,547
131,210
3 795
135, 043
3,155
105, 677
2,675
98, 219
3,247
116, 222
3, 081
95, 984
2 579
84 622
3 323
107, 344
2 978
95 888
2 728
101 986
2 925
105' 915
3,196
93 705
3, 438
96 769
3,067
90 745
3,277
91 252
2,734
71 171
2,316
68, 645
2,784
79, 175
2,654
68 416
2 229
59 906
2 864
75 519
2 598
66 364
2 358
72 613
2 512
69 211
327.0
r 37^ g
379 0
284.2
153 2
r
257 7
162 5
315 0
76, 456
74, 646
60, 815
66, 865
53, 788
45. 427
58, 148
48, 459
41 , 806
60, 100
42, 178
46 380
50, 991
169, 149
3.174
171, 155
3,208
175, 588
3,236
175. 806
3,262
181,386
3,284
182, 830
3, 341
194, 406
3,434
198, 228
3 475
197, 994
3 492
197. 536
3 519
192 782
3 560
204 650
3 766
207, 699
3 836
322. 9
371 7
373 0
275. 8
152 9
249. 4
160 &
308 1
47, 197
Revised, v Preliminary.
§ Sales and value figures include bonds of the International Bank for Reconstruction and Development not shown separately; these bonds are included in computing the average price of
all listed bonds shown on p. S-19.
9 Includes data not shown separately.
d" Number of stocks represents number currently used; the change in the number does not affect the continuity of series.
SURVEY OF CURRENT BUSINESS
February 1956
Unless otherwise stated, statistics through 1954 and 1954
descriptive notes are shown in the 1955 edition of DecemBUSINESS STATISTICS
ber
&-21
1955
January
February
March
April
May
June
1956
July
August
Septem- October Novem- December
ber
ber
January
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS (QUARTERLY)
E xports of goods and services, total
mil. of doL _
Military transfers under grants, net ._
... do. _ _
Merchandise, adjusted, excluding military transact ions
mil. of dol
Income on investments abroad
do
Other services and militarv transactions
do
5.583
607
5,183
499
5, 469
614
3,501
720
755
3, 443
534
707
3. 536
Imports of goods and services, total
Merchandise adjusted cf
Income on foreign investments in U. S
M' ilitarv expenditures
Other services cf
_- do _..
do
_ __do
do
do
3,894
2,575
114
651
554
4, 092
2 762
113
648
569
Bal-ince on goods and services
- ..do
|
5, 362
609
766
3,378
578
797
4,444
2 799
126
759
760
4, 516
2 813
127
682
894
553
1
4-1, 689
+1, 091
+1, 025
+846
do.. _ _ -1,216
-125
do
-1,091
do
-1, 224
-112
— 1,112
-1,239
-110
—1. 129
— 1 123
-104
—1 019
U. S. long- and short-term capital (net), total
do
Private
do ...
Government
--do _ _
-640
-632
-8
-74
-3
-71
—561
-397
-164
—291
—235
-56
Foreign long- and short-term capital (net)
Gold sales [purchases ( — )]
Errors and omissions
-
do
do
do _ _
+324
+70
-227
+156
+30
+21
+538
+33
+204
+490
15
+93
1936-38=100.do
.-do
265
536
202
234
473
202
250
501
201
270
546
202
254
513
202
262
533
203
264
536
203
254
515
203
246
500
204
248
509
205
276
568
206
257
533
207
do ._.
do _.
do
158
454
286
149
420
282
145
411
283
173
490
283
150
425
283
167
467
279
164
459
280
155
429
277
167
468
280
163
464
284
175
494
283
181
512
283
1924-29=100.- -- -do.
110
91
92
89
96
112
108
123
75
93
72
91
95
127
do. __
-do ---
146
132
133
133
143
171
160
183
113
133
108
126
145
175
91
88
99
97
91
90
111
99
99
93
109
111
97
104
91
100
100
106
6,148
9,529
5,281
9,343
5,989
8,924
6,145
10, 294
7,789
8,960
8,850
10, 372
9,466
11, 124
Unilateral transfers (net), total _
Private
Government
FOREIGN TRADE
Indexes
Exports of IT. S. merchandise :t
Quantity
Value
I' nit value
Imports for consumption:]:
Quantity
Value
Unit value
Agricultural products, quantity:
Exports, U. S. merchandise, total:
Unadjusted
Adjusted
Total, excluding cotton:
XTnad justed
Adjusted
Imports for consumption:
Unadjusted
\djusted
do
do
Shipping Weight
Water-borne trade:
Exports, incl. reexports §_
General imports
thous. of long tons..
do
9,549
10, 099 i 9, 760
10, 524 ' 11, 566 i 11, 060
Value t
Exports (mdse.)f including reexports, totall.mil. of dol.. 1, 318. 2 1, 165. 6 1, 233. 2 1, 342. 3 1, 263. 6 1, 308. 0 1, 315. 8 1, 267. 1 1, 228. 3 1,248.9 1, 395. 1 ••1,308.8 pi, 363.0
By geographic regions:A
45,305
48, 155
52, 931
56, 464
56, 218
Africa
thous. of doL- 51, 230
50, 046
52, 460
43, 922
41, 925
44, 031 49, 664
198, 647 185, 937 197, 451 232, 770 195, 704 197, 669 176, 425 185, 169 159, 112 175, 914 199, 272 199, 170
Asia and Oceania
do
382,
503
332, 903 374, 971 360, 938 313, 202 307, 285 349, 601 333, 232 305, 628 334, 348 382, 914 368, 477
Europe
do
222, 825 205, 787 221, 882 265, 001 277. 835 293, 582 286, 065 254, 356 271, 858 276, 224 295, 584 277, 241
Northern North America
do
Southern North America
._
do - 145, 988 133, 683 125, 590 147, 725 142, 331 134, 729 138, 089 136, 808 135,015 136, 707 146, 472 155, 201
165, 202 127, 166 123, 613 135, 786 137, 419 126, 333 125, 792 132, 610 129, 951 127, 616 138, 969 139, 073
South America
_
do
By leading countries: A
Africa:
4,217
7,879
7,566
3,620
4,471
Egypt
do
8,016
10, 630
7,416
4,814
7,078
4, 503
5,507
22, 199
16, 566
23, 660
24, 768
25, 202
Union of South Africa
do
25,401
23, 934
22, 203
17, 061
17, 466
19, 546 20, 863
Asia and Oceania:
15, 534
26, 819
18, 568
Australia, including New Guinea
do. - . - 18,811
13, 475
13, 554
11,221
12, 671
22, 392
13, 718
17, 210 20, 795
3,154
3,190
3,575
2,755
British Malaya
do ..
2, 981
2,389
2,739
3,185
3,445
2,637
3,093
2,316
0
0
0
0
0
0
China including Manchuria
cio
0
0
0
0
3
0
21, 799
17, 290
20, 029
27,029
India and Pakistan
_ _ do 20, 905
16, 829
16, 900
20, 272
18, 181
15, 240
23, 388
15, 618
54, 227
57, 855
51,914
52, 489
51, 241 50, 748
Japan
do
44, 847
52, 982
52, 884
54, 734
54, 157
46, 506
5,890
5,621
8,044
4,619
5,919
4,532
Indonesia
do _
5,714
6,331
7,163
6,020
5, 614
8,493
32,670
35, 723 35, 898
27, 498
29, 627
Republic of the Philippines
do28, 407
23, 340
21, 666
37, 759
23,281
22, 244 31, 564
Europe:
34, 833
33,012
28, 119
27, 379
France
do
27, 991 31, 285
26, 483 32, 944
29, 726
27, 182
28, 376 35, 765
394
0
11
0
0
60
East Germany .
_ _ . __ _ _ _ _ _ _ ... d o _
209
128
0
0
0
0
41, 461 48, 392
51, 438
42, 296
West Germany
do
48, 386
55, 076
52, 746
51, 693
47, 240
49, 307 50, 464
47, 933
39, 683 24, 602
Italy
do
33.311
28, 566
32, 568
30, 792
31, 854
29, 471
23, 193
25, 416
28, 370 30, 928
112
1
18
Union of Soviet Socialist Republics
do
33
15
3
1
1
10
12
0
64
United Kingdom
do
79, 758
74, 793 79, 654
64, 794
78, 599
58, 112
60, 931 84, 989
75, 531
88,694 101,624
69, 992
North and South America:
222, 814 205, 785 221, 868 264, 996 277, 830 293, 580 285, 951 264, 345 271, 771 276, 195 295, 583 277, 241
Canada
do
295, 475 247, 216 235, 696 267, 055 265, 063 247, 340 251,689 257, 786 252, 511 250, 681 269, 865 278, 592
Latin American Republics, total 9
do
12, 939
12, 771
10, 469
12, 536
10, 278
Argentina
- _ _
- do
10, 900
13, 366
9,036
1 7, 570
11, 702
13, 280
12, 873
32, 417
21,144
18, 055
20,013
Brazil
do
18, 328
18, 209
17, 393
18, 707
20,845
18, 084
16, 863
21, 923
10, 360
5,422
8,244
9,897
6,351
Chile
do
6, 656
6,413
8,391
6,188
7,125
8,580
6,546
32, 134
27, 110
26, 313
28, 830
Colombia
do
32. 609
25, 903
23, 802
27, 312
24, 432
24, 632
25, 928
28,315
39, 049
35, 751 36, 124
41, 385
Cuba
do
40, 328
37, 837
34, 990
39, 792
33, 176
32, 533
36, 064 40, 007
54, 045
50, 785
49, 562
58, 990
57,833
Mexico
-.
.-do
53, 874
56, 220
66, 494
61, 232
59, 781
55, 571 61,452
50, 029
41, 620 40, 851
45, 372
Venezuela
... .- -. ..do. 44. 102
42. 900
54. 727
46. 998
40. 631 47. 235 47. 080
40. 505
T
Revised.
v Preliminary.
1 Revisions for September 1954 (thous. long tons): Exports, 5,995; imports, 8,974.
cf Excludes military expenditures.
^Revisions for January-July 1954 will be shown later.
§ Excludes "special category" shipments and all commodities exported under foreign-aid programs as Department of Defense controlled cargo.
ITotal exports and data by economic classes and commodities include shipments under the Mutual Security Program. Total MSP military shipments are as follows (mil. dol.):
December 1954-December 1955, respectively—97.6; 85.3; 94.7: 92.2; 93.9; 131.1; 128.0; 127.8; 127.9; 99.1; 119.3; 72.7; 83.7.
AExcludes shipments under MSP and "special category" shipments not made under this program.
9 Includes countries not shown separately.
SURVEY OF CURRENT BUSINESS
S-22
1954
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of DecemBUSINESS STATISTICS
ber
February 19-".G
1955
January
February
March
April
May
June
1956
July
Septem- October Novem- December
ber
ber
August
January
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
i
1
!
FOREIGN TRADE— Continued
Valued— Continued
Exports of U. S. merchandise, totalf
mil. of doL .
By economic classes:
Crude materials
. thous. of dol Crude foodstuffs
do
M anufactured 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, 306. 8 1, 152. 5
1,221.9
1, 329. 7 1, 250. 7 1, 299. 0
1,306.3
1, 256. 4
1, 219. 4
1, 239. 6 1, 384. 9
1, 299. 3
205, 292
82 196
64, 813
175, 133
779. 411
154, 128
75 478
57. 225
169, 157
696. 553
147, 440
82 321
64, 879
183, 561
743, 660
152, 571
96 344
69, 368
188, 825
822, 549
136, 236
56 904
61,703
191, 240
804, 633
140. 224
62 739
59, 864
191,393
844, 766
156, 519
86 777
70, 530
185, 248
807, 209
132, 021
97 143
69, 742
184, 772
772, 730
139, 148
84, 503
62, 718
184, 127
748, 936
177, 044
69, 125
69, 979
197, 440
726, 024
206, 913
62 956
80, 820
213, 637
820, 569
182, 894
71 418
84, 864
195, 337
764, 776
339, 332
94, 640
20, 722
78, 530
24, 231
32, 082
273, 394
63, 523
18, 690
72, 436
22. 920
25, 566
275, 041
59, 010
20, 314
80, 632
21, 895
22, 986
295, 431
69, 564
24, 869
102, 102
20,815
26, 769
209, 624
45, 680
22, 656
58, 814
22, 380
15 573
228, 068
43, 376
24, 182
63, 736
18, 784
18,572
278, 992
56, 379
25, 748
86, 044
18, 922
21,780
255, 380
11,746
24, 621
98, 035
18, 990
39 720
222, 062
11,957
24, 062
83, 417
19, 814
34, 758
257, 879
21,914
21,872
75, 124
18, 323
63. 749
290, 102
35, 952
29, 171
65, 176
24, 618
63,719
294, 223
26, 697
24, 801
72, 362
25, 328
47, 214
967.5
879.1
946.8
1,034.2
1,041.1
1, 070. 9
1, 027. 3
1,001.0
997.4
981.7
1, 094. 8
1, 005. 1
Chemicals and related products §
Coal and related fuels
Iron and steel-mill products
thous. of dol . 111,840
do . _ 86, 301
27, 942
do
56, 342
do
109, 267
79, 626
20, 230
53. 673
117, 663
84,011
27, 087
58, 156
136, 375
93, 307
22, 942
67, 160
148, 602
99, 036
40 085
68 626
142, 967
89, 224
41 248
65, 908
123, 306
86, 231
45 193
64, 512
108, 326
86 650
42 849
68 490
96, 115
91, 772
51, 948
62, 075
87, 138
91, 168
53, 139
69, 547
90, 393
97, 658
56, 174
78, 046
106, 756
93,002
47, 614
74, 053
Machinery, total§0
Agricultural
Tractors, parts and accessories
Electrical f
Metal working §
Other industrial
do _ . _ 238, 764
do
7 752
do
25, 808
do ___ 60, 829
17 677
do
114, 435
do
227, 179
8,872
26, 331
64, 834
14, 893
101,025
242, 323
10 362
28, 616
69, 841
16 932
104, 242
268, 459
12, 601
31,694
71, 538
16, 991
121, 462
269, 294
13 750
31 595
78, 489
15 734
116 779
266, 762
13 340
30 975
74, 544
17 840
116 546
250, 293
11 673
30 563
66 241
17 162
113 417
248, 527
10 978
27 879
69 140
15 981
114 120
221, 946
9,203
23, 467
58, 408
14, 906
107, 047
234,164
7,342
20, 282
66, 922
15.621
113.814
268, 480
7 402
30, 372
67, 830
19, 251
131, 254
267, 669
7,621
29, 046
71, 636
17, 859
129, 542
do
do
55, 422
54 570
46, 356
47 208
47, 104
49 588
49, 973
63 230
49, 338
57 248
56 881
51 435
54 291
48 841
61 625
43 218
61,867
46, 060
53,215
49, 499
58, 566
56 184
48, 227
53, 489
of dol
942.3
870 3
849 5
1,018 9
870 7
966 1
938 8
885 3
958. 9
945. 1
1,009 8
1, 064. 2
57, 877
121,325
208, 355
215 858
107, 106
231 792
45, 650
151, 478
163, 357
183 268
144, 864
181 721
51,513
140 966
179, 263
183 828
138, 023
155 888
65, 105
188, 066
225, 429
212, 704
145, 593
181, 983
56, 291
159 534
179, 754
204 344
116 874
153 951
54, 848
196 428
195, 678
229 672
121 274
168 179
46, 765
172 416
191 809
244 108
112' 651
171 058
42, 605
173 843
186 566
208 720
97 032
176 547
47, 641
187, 165
If 8, 698
244,711
93, 949
186, 698
50, 444
169, 362
207, 166
234, 531
91,127
192,516
50, 189
167 362
237, 722
239 114
87, 889
227 561
44, 716
184, 843
254, 637
240, 578
114, 948
224, 517
do
do
1,379
5,972
1,500
7,512
1,821
7,914
4,515
10, 604
3 381
6. 321
1,417
10, 905
1 868
9 781
2 273
5,829
1,365
4,273
1.507
7.789
823
7,124
1,594
6,914
do
do
do
do
do
do
do
6 979
14 552
15 830
11,634
4 158
15 870
13 854
20, 906
1,034
25, 701
34, 509
18, 376
22, 673
13? 297
19 629
15 518
22 967
6 026
22' 300
13 053
20 692
11,251
22, 673
4 810
20, 155
10, 959
18, 474
21 967
34 418
14,471
28 333
21 Oil
35 880
15, 502
26 229
18, 803
39, 384
18, 967
31, 290
11,211
20, 946
2,547
17,416
38, 976
18. 461
19, 537
17, 875
43, 826
16, 259
15, 840
20, 492
47, 796
21, 335
14, 699
Nonagricultural products, tota!0
Automobiles, parts, and accessories
mil. of doL.
_
Petroleum and products
Textiles and manufactures
General imports total
mil
By geographic regions:
Africa
thous.
\sia and Oceania
Europe
Northern North America
Southern North America
South America
*
By leading countries:
Africa:
Egvpt
Union of South Africa
Asia and Oceania:
Australia including New Guinea
British Malava
China in eluding Manchuria
India and Pakistan
Tapan
Indonesia
Republic of the Philippines
Europe:
France
F ast Germany
\Vest Germany
Italy
Union of Soviet Socialist Republics
United Kingdom
North and South America:
Canada
Latin American Republics total©
Argentina
Brazil
Chile
Colombia
Cuba
Mexico
Venezuela
of doL_
do
do
do
do
do
r
21, 893
34, 416
15, 257
16. 728
965
14, 962
16 886
15.512
17, 142
17. 654
21, 43S
50 370
810
30, 218
12, 413
2 025
52 662
34, 132
14, 147
1,175
55, 507
32. 511
11,716
1 983
49, 433
37, 722
19, 265
3,050
59, 543
37, 000
19, 006
55, 535
32, 650
13,461
1 386
46 650
183, 239
183, 772
212, 666
204, 327
229, 640
243, 965
208, 589
244, 342
234, 196
239, 114
240, 433
297 516
7,585
56 529
12, 726
38 722
36 289
40, 976
47, 716
265 376
9,222
36 045
14, 990
32. 812
34 524
41, 800
46, 389
297 964
13, 198
40, 587
17, 482
32, 075
45, 858
40, 474
58, 546
251 086
11,048
43 923
17, 258
19 994
36 703
32, 353
44 190
271 605
10, 593
42 437
17,087
33, 236
31 609
38, 528
46 579
263 755
12, 789
38 917
19. 224
32 901
35 901
34, 282
47, 103
258 171
11,391
51 823
14, 773
35 452
32 866
30, 390
42, 647
262, 446
11,861
46, 809
15, 273
40, 067
33, 816
27, 147
50, 404
259, 869
13, 295
66, 033
14. 430
28, 699
32, 654
27, 100
42, 801
294, 402
8, 583
77, 450
13, 522
60, 606
35, 471
20, 248
46, 159
312, 283
8,434
76, 885
23, 106
43,716
37, 79S
30, 671
49, 915
312 055
6,962
96 842
15, 003
40, 434
17 689
27, 851
51, 788
220
692
759
597
866
272
299
400
560
59, 403
959 2
951 0
1, 013. 0
1, 050. 6
254 593
138.533
90, 986
243, 379
223 491
244, 327
191, 034
95, 054
239, 781
242, 793
247 693
193, 732
104 694
251, 584
252 943
348 658
11 452
120,060
6 554
39 591
38, 674
23 605
311 696
15 579
90, 136
5 628
33 974
37, 399
22 752
300 664
8 592
102, 375
5 219
28 509
40, 308
22 096
315 631
15, 759
94, 141
4,837
39 854
42, 086
23, 678
305 778
11,342
96, 678
3,167
37 757
32, 656
20, 963
352, 523
9,869
146, 813
4,887
38, 286
28, 744
21, 694
360 386
13, 987
138, 192
4,476
43 053
27, 898
18, 899
553 873
6 452
609 893
8,672
630 155
7,429
578 304
5,812
643, 532
4,437
645, 204
5,215
660, 464
3,403
690, 261
3,568
98 197
30? 495
12 093
21 945
50 320
74 215
109 207
30' 885
14 093
25 250
52 767
76 546
110
40
13
30
53
82
123 240
48 236
13,874
28 790
48, 449
84 180
121 099
44,911
15,091
28 942
53, 222
81 840
125 014
48, 285
14, 272
29 878
54, 722
95 184
254 086
178 541
105 029
230, 281
237 657
224 817
146 713
92 409
210, 693
197 730
237
174
95
236
214
360 957
30 821
174, 374
3 171
24 480
10', 423
15 444
358 965
19 055
140, 526
3 924
27 719
36, 502
21 646
318 963
22 471
107, 899
3 506
30 358
36, 335
17 518
372 905
26 086
105, 413
6, 181
39 470
44, 384
26. 404
318 490
18 019
90 882
4 342
40 661
37, 144
23 629
570 245
11,990
503 283
9,394
524 366
9,975
632, 690
7,853
95 277
31 129
14, 984
28 296
51 451
95 028
207
485
037
210
200
552
436
250 407
141,289
96 877
253, 465
217 124
204 075
169* 294
82 655
209 166
178 140
88
29
15
22
43
84
632
879 0
872 4
735
600
719
304
890
003
363
672
200
732
202
17. 440
272
219 902
148 645
93 594
211,427
205 399
1 005 6
201
198
86
199
175
75
23
11
22
46
85
693
106
479
453
717
097
843 3
206 286
242*022
71 546
217 783
193 565
862 2
339
958 6
283
931
657
116
563
941 9
243
143
100
235
219
024
017
248
358
239
675
Revised.
* Preliminary.
JRevisions for January-August 1954 will be shown later.
1 See similar note on p. S-21.
9 Data for semimanufacturers reported as "special category, type 1" are included with finished manufactures.
©Includes data not shown separately.
§ Excludes "special category, type 1" exports; electrical machinery data are excluded through 1954 only.
807
27, 655
14,121
1 291
50 886
215, 837
97 431
28 382
14 974
22 675
52' 963
87 896
848
16 154
do
do
do
do
do
do
do
do
931 2
56
25, 894
14. 183
do
do
28 378
33, 902
16, 605
31,614
72
19, 836
35 510
-do
do
16 666
28 171
18, 337
22 620
241
31, 354
21, 298
57, 376
919
21, 189
22, 526
17, 843
17, 830
744
13, 170
12, 805
21,706
9,740
389
814
21,755
13, 486
1 147
48 699
14, 058
23, 457
14, 192
Nonagricultural products total©
do
Furs and manufacturers
do
Nonferrous ores, metals, and manufactures, total
thous of dol
Copper incl ore and manufactures
do
Tin including ore
do
Newsprint
17, 055
25, 041
14, 238
9,814
843
do
do
do
do
do
do
Imports for consumption total
mil of dol
By economic classes:
"Crude materials
thous of dol
Crude foodstuffs
do
Manufactured foodstuffs and beverages
do
Semimanufactures
do
Finished manufactures
do
By principal commodities:
\gricultural products total©
do
Cocoa or cacao beans incl shells
do
Coffee
do
Hides and ^kins
do
Sugar
\Vool and mohair unmanufactured
726
99
34
14
23
46
75
814
609
800
485
794
272
119 896
42 297
15,366
31 738
54, 381
85 45Q
1
_
SURVEY OF CURRENT BUSINESS
February 1956
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
S-23
1955
January
February
March
April
May
1956
July
June
August
Septem- October | No ™ m - Decemb
ber
ber
January
TRANSPORTATION AND COMMUNICATIONS
I
|
i
I
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. _
44, 365
19, 697
9,833
2,518
1,426
45, 092
15, 347
6,574
2,601
1,485
40, 790
14, 753
6,694
2,367
1,320
45, 696
18, 174
7,597
2,732
1,521
thous. of dol__
do
39, 517
17, 161
27, 258
8,965
26, 849
8,993
-cents..
millions
14.0
863
136.1
14.1
783
119.6
14.1
731
113 0
45, 786
17, 427
7, 268
2,950
1,620
47, 302
17, 727
6,976
2.976
1.592
47, 526
18, P33
6, 910
3,121
1, 765
49 180
16, 967
6, 305
3,070
1,760
32, 326
13, 712
29S 580
11 411
29, 921
11 483
33. 341
13 858
29, 622
10, 314
14.2
837
126 3
14.3
800
124 2
14.3
802
121 8
14.3
756
116 3
14.4
665
107 9
r
50 062
20, 578
6,827
3 064
1,748
48 394
21 366
6, 736
3 071
1,692
49 201
21, 526
7, 015
3,081
1, 674
45 592
19 257
7,009
2 705
1,453
32, 560
12 392
32, 986
13 421
33, 730
14 193
33, 761
13 476
14.4
700
113 4
14.5
745
111 3
14.6
773
120 1
14.6
768
122.5
4.124
3,054
559
53
167
207
50
251
247
1,520
r
r
Express Operations
Transportation revenues
Kxprcss privilege payments
Local Transit Lines
Fares, average cash rate
Passengers carried revenue
14.7
801
Large Motor Carriers (Intercity)
Carriers of property (quarterly totals) :1
^Vurnber of reporting carriers
Operating
revenues total
thous of dol
Fxpen c es total
do
Revenue freight carried
thous. of tons
Carriers of passengers, class I (quarterly totals) :
dumber of reporting carriers
Operating revenues total
thous. of dol
Fxpenses total
do
2,026
905, 121
891, 941
69, 051
789
787
763, 552
722, 339
52, 405
789, 338
748, 376
53. 467
164
89, 616
84, 667
79, 068
159
159
77, 332
77, 876
70 136
157
92, 607
83,613
76 367
110, 236
90 926
80 363
789
807 935
771 144
54, 515
Class I Steam Railways
Freight carloadings (A. A. R.):cT
Total cars
thousands __
Coal
do
Coke
do ._Forest products
do
Grain and grain products
do
livestock
do
Ore
do __.
ATerehandise 1 c 1
do
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. _
\Terchandis3 1 c 1
do
Miscellaneous
do
Total adjusted
do
Coal
do -..
Coke
do
Forest products
-~ -do_. Grain and grain products
do
Livestock
do. _
Ore
do. _
Merchandise I c l
-do __
Miscellaneous
do
Freight-car surplus and shortage, daily average:
Car surplus total 9
number
Boxcars
-~
do _Gondolas and open hoppers
do Car shortage total $
do
Box Cars
._.. -.-do.
Gondolas and open hoppers
- -do_
Financial operations:
Operating revenues, total 9
mil. of dol_
Freight
do
Passenger
- - -do - _
Opcratin0" expenses
do
Tax accruals, joint facility and equipment rents
mil. of doLN"et railway operating income
_
do . _
Net in co met
do
Operating results:
Freight carried 1 mile
mil of ton-miles
Revenue per ton-mile
cents
Passengers carried 1 mile, revenue
. . . - millions. _
3,048
595
46
198
221
40
77
289
1,582
* 2, 505
M88
'40
r
164
2,621
1,394
1,444
114
106
125
137
133
60
57
40
127
110
103
127
133
132
61
53
37
123
113
105
131
138
124
45
49
39
128
115
91
134
135
120
49
59
40
137
120
95
142
133
123
58
136
39
140
130
105
147
145
137
52
271
40
146
130
99
148
153
155
41
296
42
144
131
104
151
146
197
41
305
42
140
131
109
160
156
152
49
303
41
142
138
115
167
155
154
80
320
41
151
139
115
166
149
162
103
283
41
154
135
121
173
141
149
91
212
40
149
124
124
181
140
127
66
73
37
137
124
123
181
145
135
62
67
37
137
123
106
119
154
142
62
184
41
135
121
103
121
148
132
64
210
39
134
122
105
124
144
127
56
198
40
136
123
91
133
135
130
62
204
40
144
123
95
144
133
140
65
177
39
142
128
105
149
139
155
57
177
40
144
125
99
151
147
152
50
191
42
140
125
104
156
145
164
50
190
43
139
126
109
166
148
141
51
202
40
140
127
115
169
143
138
60
213
39
139
129
115
169
141
162
67
202
40
141
131
121
173
144
152
72
202
40
143
134
124
172
158
136
68
235
39
145
137
123
172
161
135
65
268
39
149
40, 960
2,348
27,410
244
237
0
71,087
9,568
49, 286
38, 468
3,351
28, 230
1,427
1,334
14,414
2,911
2,317
6, 350
3, 866
2,048
9,583
3,383
866
10, 456
6,103
3,788
8,467
250
3,008
13, 491
10, 824
2,362
5 045
13, 369
8,018
5, 179
12, 922
7,299
5,332
3,505
136
894
20, 942
11,615
8,692
3,574
247
359
15, 916
8,952
6,672
5 558
598
870
3,673
5.757
1, 451
761
34
21,810
2,398
11,657
2,418
1,834
281
5,164
368
341
3
47, 171
6,445
30,145
687
665
23
•797.
4
r
652. 2
69.0
628.3
752.7
625. 9
65.3
590.0
724.3
611.8
55.3
564.1
825.2
703.2
56.5
612.0
796.0
673.9
58.2
602.2
850.4
724.7
59.2
634.9
875.1
737.9
66.8
644.9
849.6
711.2
70.0
644.8
905.1
764.9
68.2
669.7
876 6
745 9
59.6
651 8
907.6
777.5
55.9
671.3
873 9
744 1
57.8
656 8
858.2
706.4
69.9
60.6
!08. 0
126.6
94.1
68.7
51.9
93.6
66.6
46.1
115.4
97.7
77.9
106.4
87.4
67.0
114.2
101.2
86.7
124.2
106.0
88. 1
112.1
92.6
72.4
125.7
109.7
90 6
121.0
103.8
79 6
125. 4
110.9
90 0
114.1
103.1
79.9
77.8
47 588
1.421
2,625
48, 161
1.357
2,488
46 098
1.382
2, 057
50, 996
51 205
1.372
1.423
2,117 | 2. 222
55,833
1.354
2,270
54 938
1.389
2,561
54, 463
1.366
2,793
57 044
1.373
2, 743
57 222
1. 351
2,315
60 694
1.332
2,152
55 229
9,249
6,604
2,645
8,449
6,261
2,188
8,748
6, 437
2.311
9,446
6,884
2, 563
11,183
7,986
3.197
11, 554
8, 495
3, 059
11, 790
8,604
3,186
11, 839
8,690
3,149
11,885
8,842
3 044
11,822
8,762
3,060
3,404
1.030
3,453
1.065
3.376
'987
3,760
1.123
3,750
1.316
3,464
1.333
3,932
1.419
3,703
1,469
3,883
1.517
3,810
1,268
r
3,731
1,760
1,351
r
447
42
168
171
27
67
255
3,085
529
47
186
208
23
332
258
1,503
2, 713
'35
'58
••234
1, 297
r 189
511
42
171
177
25
56
243
3,063
510
47
179
194
29
307
251
1, 547
3,417
3.433
569
56
205
217
40
179
308
1,859
2, 575
3,114
3,142
1,799
528
50
192
217
27
344
257
535
51
185
208
40
352
249
1,499
1,522
697
66
231
287
71
410
327
2,036
553
57
219
335
27
416
324
274
372
453
297
726
69
210
220
46
103
284
1,484
2,005
573
55
173
185
34
74
225
2, 945
1, 503:
1, 246
Waterway Traffic
Clearances, vessels in foreign trade:
Total U S ports
thous. of net tons
Foreign vessels
_
_ do
United States vessels
do
Panama Canal:
Total
thous. of long tons
In United States vessels
do
10, 141
7,362
2,779
3,669
1.305 !
3,279
1.045
3,707
1.051
r
Revised.
§ Beginning January 1955, data include local service operations of one carrier.
*J Data beginning 1st quarter 1955 cover large motor carriers having operating revenues of $1,000,000 or above.
d* Data for December 1954 and April, July, October, and December 1955 are for 5 weeks; other months, 4 weeks.
1954, $76,800,000.
9 Includes data not shown separately.
JRevised data for November
SUBVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
February
1955
January
~ j March
April
May
June
1956
1956
July
August
Septem- October Novem- December
ber
ber
January
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION— Continued
Travel
Hotels:
Average sale per occupied room
dollars
Rooms occupied
_
_ .percent 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 and renewed
do
National parks, visitors.
thousands _
Pullman Co.:
Revenue passenger-miles
millions
Passenger revenues. ___
thous. of dol_.
6.89
59
229
7.17
73
252
7.25
74
252
7.02
75
241
7.65
73
259
6.98
74
277
7.61
74
280
7.19
65
235
7.97
71
260
7.78
74
258
8.17
78
265
8.07
71
260
7. 10
58
236
72, 730
69, 840
48, 675
41, 779
25, 005
277
69, 272
76, 638
45, 881
30, 472
34, 356
318
80, 021
85, 524
41,745
30, 235
40, 173
309
91, 535
98. 615
51, 586
38, 963
56, 399
437
90, 092
104, 604
57,129
40, 232
60, 675
690
109, 558
107, 290
61, 419
42, 713
71, 055
1,162
105, 876
140, 127
60, 765
53, 226
71. 626
2,547
134, 363
149, 959
64, 022
50, 396
40, 624
4,492
157, 479
113, 468
73, 692
51, 897
40, 963
4,472
134, 963
87, 534
80, 738
51,205
31,086
2,070
104, 192
75, 861
66, 381
45, 025
26. 746
1,170
25 990
432
28. 310
310
571
7,474
702
9,224
587
7,710
600
7,884
543
7,129
521
6,823
571
7,500
545
7,148
564
7,388
533
6,971
555
7,252
561
7, 311
448, 387
257,149
154, 870
311,916
58, 457
45, 858
441, 354
258, 047
146, 783
289,318
62, 143
46, 093
429, 188
254, 859
137, 976
281. 240
60, 261
46,310
454, 235
260, 606
157 059
307, 210
59, 123
46, 545
449 942
261, 586
151 080
299. 165
61, 148
46,746
457 793
263, 022
157 307
306, 503
61, 220
46, 961
460 582
264, 035
158 688
304, 354
64, 294
47, 175
454, 265
261, 072
155 069
301, 554
61, 979
47, 406
475, 538
265, 605
170, 757
318, 788
64, 084
47. 652
467 757
267, 576
160 757
309, 829
64, 401
47, 952
475 879
273, 400
162 431
312, 558
68, 096
48, 232
19, 733
17, 479
973
17, 552
15, 953
737
16, 996
14,880
1,302
19, 859
16, 332
2,677
18, 920
15, 825
2, 254
19, 598
16, 446
2,300
20, 042
16, 535
2 660
18, 110
16, 574
714
20,175
17, 215
2, 155
19, 451
16, 926
1 758
19, 074
16, 470
1 872
18, 665
16,365
1 592
3,011
1,862
864
2, 676
2, 104
301
2,452
1,972
220
2,933
2, 068
599
2, 579
2 088
236
2,771
2 131
367
2 902
2 123
521
2, 769
2 128
364
2,817
2, 156
374
2, 963
2 169
516
2 831
1 983
578
2,724
2 030
448
2,998
2, 353
540
2,754
2,272
333
2, 635
2,198
351
2,893
2, 306
466
2,689
2,275
296
2,743
2,317
306
2, 875
2,302
452
2,761
2, 272
374
2,954
2,247
601
2,997
2,300
585
2 985
2,311
572
2,973
2,428
473
COMMUNICATIONS
Telephone carriers:
Operating revenues 9
Station revenues
Tolls message
Operating expenses, before taxes
Net operating income
Phones in service, end of month
thous. of dol
do
do
do
_ _ ._ - do^ __
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...
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
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
253, 687
60, 516
44, 834
259, 445
66 372
270, 363
62, 388
42, 666
260, 357
67 494
249, 398
53, 804
40. 551
232, 826
62 751
285, 239
72, 522
53,813
269, 319
69 599
286, 567
71, 923
58, 644
235, 158
59 266
296, 799
74, 505
73, 859
294, 847
71 677
261, 285
73, 941
80, 244
292, 908
73 362
236, 759
77, 527
91, 906
291,424
68 693
237, 202
74, 634
96, 362
295, 492
66 577
231,954
71, 374
77, 167
293, 929
69 399
265,868 -268,859
76 033
80 686
63, 138
52 607
316, 614 r 308, 104
79 237
76 418
316, 948
78 154
199, 140
2,214
264 317
213, 732
2,349
276 286
190 108
2, 132
289 323
206 932
2, 466
312 208
201 956
2 422
311 551
191, 743
2,422
306 851
178 428
2,326
261 312
173, 595
2,249
197 401
173 057
2,397
244 502
173 097
2,384
318 254
190 556
2 582
320 269
199 341
2 638
298 313
304 081
385, 270
8,707
300, 604
385, 787
9,000
301, 769
359, 569
8,181
275, 326
420, 085
9, 538
317, 245
387, 242
9 657
278, 266
442, 594
10,734
336, 554
416, 147
10 289
338, 232
380, 422
9,690
330, 413
392, 964
9,967
332, 687
413, 071
9 982
334 488
442, 612
10 801
357, 013
r
434 159
10 287
345 872
356 573
53, 066
49, 451
50, 490
62, 841
48, 451
54, 900
56, 923
40, 905
42, 238
55, 154
56,279
71, 485
75, 973
69, 511
68,483
66, 972
72, 365
66, 925
63, 263
66,232
67, 906
74, 570
1,300
1,313
1,266
1,388
1,339
1, 255
1,122
1,202
1,259
1,355
1, 416
1, 465
22.35
22.35
22.35
22. 35
22. 35
1,373
'
22.35
22. 35
22.35
22.35
22.35
22.35
22.35
J» 22. 35
41,069
63, 578
1,142
43, 071
67, 886
1,194
36, 944
60, 353
1,202
48, 100
78, 590
1, 509
45, 256
72,127
1,217
41, 621
70, 477
1,413
43, 729
67, 664
1,406
43, 987
66, 359
1,099
44, 647
69, 499
912
47, 421
66 299
716
47, 014
70, 722
1,705
47, 263
73 491
1 385
39 523 *• 36 499
51 873 49, 984
28, 545
30, 904
20 969 21 439
35, 023 37, 046
795
902
35 855
44, 842
31, 257
13, 585
40, 970
720
36 263
38, 560
24, 877
13, 683
39, 225
1 007
40 923
39, 417
25, 994
13 424
37, 831
929
40 903
40 273
28, 062
12 211
36 894
908
41 911
44' 710
34^ 912
9 798
37 787
946
18 878
19, 382
4 013
22 180
18, 874
8 642
21 140
21, 476
8 383
20 42^
18 893
9 825
19 914
22 607
7 079
20 383
21 273
6 065
Creosote oil, production
_ _ _ -thous. of gal
10, 088
9, 565
8 934
8 538
11 064
10 681
13 014
10 167
DDT, production
thous. of lb_
9,359
6,036
11, 334
9,319
10, 703
10, 456
10, 673
9, 216
Ethyl acetate (85%), production
do
5, 105
7,336
6,171
7,017
8,395
4,571
6,639
9,006
Ethvlene glycol, production _ _
do 54, 032
51, 599
72, 854
82 831
55, 206
60 605
55 756
74 909
Formaldehyde (37%HCHO), production
do
84, 910
77, 226
82, 131
99, 344
95, 422 111,366 104,641 104, 700
Glycerin, refined, all grades:
Production
do
18 566
17 275
20 032
20 660
18 345
20 461 21 384
15 608
Consumption
_ _ _.._
.do
14, 642
15, 144
14, 836
15 848
14 165
16 306
15 692
16 055
Stocks, end of month
_._ ._
_do _
30,379
28, 391
30, 073
27, 061
28, 699
25 880
26 913
28 688
Methanol, production:
Natural
thous. of gal..
176
170
192
157
167
181
185
186
Synthetic.. . .
.
_^do
16,974
15, 393 13, 825
15, 531
16, 740
15,886
17,463
16, 071
Phthalic anhydride, production
thous. of lb. . 28, 376
25, 798
24, 976
29,263
29,330
30,450
24, 851 31, 582
r
Revised.
» Preliminary.
9 Includes data not shown separately.
cf Data (except for alcohol) are reported on basis of 100-percent content of the specified material unless otherwise indicated.
11 539
11, 277
7,726
86 963
93, 912
9 807
10, 190
7,765
84 885
97 092
10 340
10, 273
7,809
84 693
107 005
10 273
10,310
6,124
75 535
111' 181
22 102
16 510
28 146
20 436
17 193
29 200
23 093
17 647
30 241
21 819
17 054
30* 546
187
17 465
29, 735
190
17 590
30, 414
197
17 698
31, 174
186
17 206
29! 980
Nitric acid (100% HNOs)
do
Oxygen (high purity)
_ . mil. of cu. ft
Phosphoric acid (50% HsPO^
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 tonsSodium sulfate (Glauber's salt and crude salt cake)
short tons__
Sulfuric acid:
Production (100% HaSOO — -thous. of short tons..
Price, wholesale, 66°, tanks, at works
dol, per short tori..
Organic chemicals :cf
Acetic acid (synthetic and natural), production
thous. of lb-_
Acetic anhydride, production
- . _ _ do . .
Acetylsalicylic acid (aspirin) , production
do
Alcohol, ethyl:
Production
thous of proof gal
Stocks, end of month, total
.
do .
In industrial alcohol bonded warehouses . do
In denaturing plants
- .
do
Used for denaturation
__ _ __ . - _ - d o Withdrawn tax-paid
do
Alcohol, denatured:
Production
_ - - _ _
thous. of wine gal
Consumption (withdrawals)
- - do --.Stocks, end of month
-do
33 651
35 304
33 015
r 53, 917 <• 52, 130 r 53, 068
r 33, 643 ••31, 724 '31,791
21 277
20, 275
20 406
32, 792
35, 045
31, 839
672
755
703
17,173
17, 340
5,434
18 862
19, 346
4 934
17 677
17,174
5 455
35 615 r 37 784
48, 109
49 720
'27.316 ' 27. 991
20 793 21 729
37, 855
36 230
927
650
r
r
20 404
20, 645
5 238
19 504
20, 156
4 504
T
19 989
18, 585
5 267
272, 748
85 611
212 816
432, 319
58, 811
74 934
r
22 943
is' 719
34* 280
36 660
SURVEY OF CURRENT BUSINESS
February 1956
S-25
1955
1954
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of DecemBUSINESS STATISTICS
ber
January
February
March
May
April
June
1956
July
August
Septem- October Novem- December
ber
ber
January
CHEMICALS AND ALLIED PRODUCTS—Continued
FERTILIZERS
Consumption (10 States)©
Exports total 9
Nitrogenous materials
Phosphate materials
Potash materials
thous. of short tons
short tons
do
do
do
786
511
369
304,985 r 284, 959 *• 321, 465
49, 490
22, 733
97, 057
259 139 216,270 172,074
10, 529
21,039
10, 759
ar
r
1,839
287, 049
59, 568
183,344
r
559
1,650
241
1,001
378, 105 r 324, 919 ••232 878 r 285. 452
76,515
48, 403
33, 511
31, 568
268, 969
r
292
172
344, 305 r 488, 983
76, 340
40, 228
270, 631 377 472
22, 784
24, 752
r
440
472, 202
82, 376
362 413
13, 771
428
355, 75S
86, 295
239,013
11,172
257, 181
12, 160
177, 583
24, 519
9,242
206, 699
35, 078
241, 269
322, 904
177.029
61,015
160,943
124, 702
82, 693
26, 074
10, 421
9,784
8,654
1 5, 778
146, 927
80, 698
42. 876
15, 898
28, 107
175, 655
120, 566
57, 674
9,712
25, 904
164, 745
113, 116
52, 914
2, 536
12, 104
6,798
17, 946
33 838
175, 413
121, 309
34, 652
10, 157
33, 407
18, 490
Imports total 9
- do
Nitrogenous materials, total .
do.
Nitrato of soda
do
Phosphate materials
.
___ _ . d o - _
Potash materials
do
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
port warehouses
dol per short ton
214,033
189, 058
84, 555
8,986
5, 498
228, 075
190, 506
59, 359
236, 247
165, 449
49, 463
9,294
12, 868
11,194
41,339
353, 695
256, 702
70, 535
20, 126
48, 161
51.25
51.25
51. 25
51.25
51.25
51.25
51.25
51.25
51.25
51.25
51 25
51.25
P 51 25
Potash deliveries
Superphosphate (100% A.P.AJd 1
Production
Stocks e n d o f m o r t h
.
154,317
187, 873
200, 116
266, 832
235, 857
164, 411
61, 750
93, 209
115, 859
137, 897
145 617
161, 564
153 431
206. 309
326, 579
209,017
210, 165
347, 728
228, 764
274, 322
233, 572
221, 442
210,818
143, 181
289, 542
93, 769
291, 246
136, 990
292, 176
182 209
214 898
216,247
347, 161
301,413
318,512
333, 608
230, 676
375, 653
980
53, 594
1,017
52, 571
810
876
685
346
280
315
478
466
521
53, 167
58, 535
62, 651
65, 632
68, 967
60, 043
74, 622
69, 589
69, 983
411
67, 244
418
63, 900
478
3,228
447
400
435
3,214
3,201
3,091
438
2,996
456
2,925
425
2,875
488
2,887
501
2,943
499
3,000
3 004
short tons
-
do
do
71, 768
8,030
248, 022
148, 981
85, 402
28. 273
MISCELLANEOUS
Explosives (industrial), shipments:
Black blasting powder
thous. of Ib
High explosives
do
Sulfur (native):
Production
thous. of long tons
Stocks (producers')* end of month
do
545
537
3,095
FATS, OILS, OILSEEDS, AND BYPRODUCTS
Animal fats, greases, and oils:
Animal fats:
Production!
Consumption , factory:}:
Stocks, end of month _._
Greases:
Production!
Consumption, factory!
Stocks, end of month
Fish oils:
Production!
Consumption, factory
Stocks, end of month .
thous. of Ib
do
_-do
-
._ _
Vegetable oils, oilseeds, and byproducts:
Vegetable oils, total:
Production, crude!
Consumption, crude, factory!
Stocks, end of month:!
Crude!
Refined §
..
Exports
_- _ _
Imports, total
Paint oils
All other vegetable oils
Copra:
Consumption, factory
Stocks, end of month
Imports
Coconut or copra oil:
Production:
Crude..-. .
.
Refined
Consumption, factorv:
Crudot--*
Refined
Stocks, end of month:
Crude
Refined
Imports
_ .. _
do
do
do
56, 556
27- 550
75, 025
do
do
do _.
6,698
11,074
65, 108
mil. of Ib
do
do
do ...
-thous. o f l b .
do
do
do
-
1
1
465, 537 1 417, 837 1 454, 822 1 410, 136 1424,815 i 403, 658 i 366,773 1 424, 471 1 428, 1 72 ' 473 050 i 552, 270 i 563 263
193, 206 1 197, 710 1 203, 837 1 196, 426 1 208, 264 ' 196, 409 1 151, 030 1 200, 406 '212,739 '211,287 '213,374 i 202, 079
412, 194 1415,127 1415,106 1409,530 1 410, 501 1 394, 025 ' 390,904 1 370, 588 1 347. 756 ' 335, 770 1388,643 1461,625
(2)
(2)
(2)
(2)
(2)
2
( )
(2)
(2)
(2)
3
532
3 8, 275
51, 494
3312
3345
8, 391
3 47, 554
3 10, 564
3 46, 141
551
521
547
524
487
489
493
564
669
799
674
806
671
689
124,960
34. 006
3, 058
30, 948
95, 711
40, 053
168, 751
45, 306
3
3
(22)
( 2)
()
31,415
3 12,732
3 36, 962
3
3
(22)
()
(2)
(22)
( 2)
()
( 22 )
()
(2)
(2)
3 9, 989
3 40, 574
333,986
3
228,944
11,438 3 10,968
3
(22)
( 2)
()
(2)
(2)
3
(2)
(2)
(2)
326 161
3
3
3
9, 337
61, 779
9, 653
s 70, 455
3 11,233
15 432
312, 375
98, 049
(2)
(2)
2
()
(2)
(2)
(2)
'3 12. 2^0
r3
r3
12,977
104,893
3
3
3
4 093
12 756
98, 947
36, 045
s 68, 129
441
486
443
496
415
495
390
391
414
447
493
482
671
573
645
714
617
703
579
656
514
564
490
479
485
429
504
409
563
426
26, 052
38, 601
50, 809
42, 447
2, 766
39, 681
77, 636
45, 936
2,194
43, 742
111,215
33, 136
40, 770
34, 271
1,299
32, 972
60, 688
32, 250
3 933
28 318
63,
24,
1
23
517
732
145
587
73, 059
43, 677
3 375
40, 302
22, 926
22 292
28 115
31, 203
27, 420
24, 085
42 014
31,940
26. 873
17, 267
23 401
25, 407
20 137
25 099
94, 337
r
665
597
616
590
654
468
678
523
6,858
38, 005
38, 448
27, 248
40, 233
1,402
38, 832
27. 678
16, 053
24, 998
29, 211
16, 579
25, 448
22, 415
15, 736
19, 810
28, 344
15, 313
34, 819
31, 089
16, 674
25, 234
28,011
19,231
31, 743
32, 933
18. 474
30, 524
35, 537
27, 441
36, 747
28, 899
28, 737
27, 596
36, 068
32, 005
40, 438
28, 240
36, 056
29, 282
41, 327
30, 955
29, 144
23 909
39, 835
38 211
34, 747
34 988
40 689
32 465
T
34, 378
31 688
32 532
25 719
do
do
42, 061
25 091
43, 613
24 231
43, 043
24 327
49, 801
28 476
43, 342
27 496
46, 344
29 755
46, 234
26 402
34 598
21 431
54 334
33 155
52 944
32 556
49 213
32 720
49 273
T 32 535
42 972
27 072
do
do
do
68, 733
10 344
6 402
68 715
11 982
10 459
61 012
11 772
14 617
68 573
11 844
12 225
73 996
11 054
9 633
73 119
9 554
9 835
78 603
10 174
14 265
84 979
12 760
10 969
85 529
13 242
15 790
82 533
14 067
8 771
78 825
12 581
9 244
75 871
14 407
19 139
75 913
13 164
488
609
2,321
119
598
1,842
84
514
1,412
36
438
1,010
13
318
7
285
294, 034
245, 510
293, 109
242, 133
254 430
257, 064
218 928
278, 909
196, 923
146, 394
196, 278
141, 494
169 946
145, 221
157, 682
146, 167
29, 997
159, 433
144, 295
28 524
141 252
141, 288
25 294
. . thous. of Ib
do
--
1
2,049
short tons...
do
do
__
426,417
133,596
254, 218
Cottonseed:!
Receipts at mills
thous. of short tons..
Consumption (crush)
do
Stocks at mills, end of month
_ do
Cottonseed cake and mcnl:!
Production
short tons
Stocks at mills, end of month
_ _ . _
_do
Cottonseed oil, crude:!
Production
_ thous. o f l b
Stocks, end of month
do
Cottonseed oil, refined:
Production
_
do
Consumption, factory
- ._ - . d o _
In margarine
do
2,602
36, 000
19
197
36, 639
3,503
17,697
19 431
42 335
422
243
209
349
212
1, 066
494
345
917
1, 689
708
1 898
1, 406
781
2 523
570
672
2 421
154 119
273, 098
139 630
266, 945
95 378
237, 998
78 293
203, 090
103 409
169, 703
233 349
150, 240
328 503
170 721
370 633
1 73, 742
317 153
163, 049
150 978
125, 738
110 834
106, 593
101 987
96, 409
67 251
73, 552
56 962
53 915
70 391
58 955
159 431
87 689
236 807
155 640
262 589
204 267
226 931
192' 182
161 402
138, 285
28 949
117 110
119, 302
19 165
105 709
135, 366
21 325
87 033
134, 560
20 718
59 120
95 852
14' 330
57 996
105 137
16 336
96 846
101 707
20 868
140 847
125 255
24 473
189 943
130 453
31 115
185 720
117 038
26 834
705
131
165
344
Stocks, end of month §!
mil. of Ib
668
661
546
562
527
568
433
378
287
273
324
283
Price, wholesale, drums (N. Y.)
dol. per Ib
.204
.206
.206
.199
.222
.198
.207
.191
.201
.188
' 188 p. 188
.215
r
Revised.
v Preliminary.
i Beginning 1955, data include greases (other than wool) and both crude and refined products (except that production
figures exclude refined lard); refined products (not included prior to
3
1955) are no longer reported separately from crude.
2 Beginning 1955, data are included with animal fats; see note 1.
Beginning 1955, data may include some refined fish oils (not formerly
included); figures included for consumption and stocks of cod, cod-liver, and other liver oils are incomplete.
© States represented are: North Carolina, South Carolina, Georgia, Florida, Alabama, Tennessee, Arkansas, Louisiana, Texas, Oklahoma. According to quarterly reports from Virginia,
consumption in that State is as follows (thous. short tons): 1955—January-March, 287; April-June, 349; July-September, 71.
9 Includes data not shown separately.
c? A. P. A. (available phosphoric acid).
! Revisions for January -July 1954 (August 1953-July 1954 for cottonseed and products) will be shown later.
§ Includes stocks owned by the Commodity Credit Corporation.
» Revisions for January-November 1954 are as follows (short tons): 218,581; 201,132; 282,514; 259,586; 314,470; 266,153; 308,139; 413,443; 377,461; 461,326; 237,330.
SURVEY OF CURRENT BUSINESS
^-26
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
February 1956
19 55
January
February
March
April
May
June
1956
July
August
Se
ber
em
j°
ctober
Novem- December
ber
January
CHEMICALS AND ALLIED PRODUCTS—Continued
FATS, OILS, ETC.— Continued
Vegetable oils, oilseeds, and byproducts — Con.
Flaxseed:
2
* 40, 808
Production (crop estimate)
thous, of bu
40,638
Oil mills:*
2 7f2
2 023
4 275
2 341
1 861
1 552
Consumption
do
1 884
3 138
*>• 014
2 635
3 064
3 132
3 263
5, 2P2
4, 550
1, 654
1, 035
1, 807
7,166
Stocks, end of month
-do __
4, 276
2, 559
3,034
4,797
7,542
6, 695
1,006
3.35
3.25
3.24
3.21
3.38
3.35
3.29
3.15
3.10
3.17
Price, wholesale, No. 1 (Minneapolis) _dol. perbu__
3.36
3.34
3.08
Linseed oil, raw:
54, 1 65 46, 204
84, 708
59, 703
Production*
thous. of Ib
37, 058
36, 801
40, 707
30, 891
41, 248
52, 553
61, 403
62, 493
64 470
39, P61
34, 933
40, 974
45, 085
43, 533
43, 619
45, 991
46, 629
46, 724
56, 220
41, 236
Consumption, factory*
do
50, 888
43, 583
80, 294 108, 296 136, 013
Stocks at factory, end of month*
_
do_ _. 186, 6P7 181, 927 164, 731 171, 597 161, 853 139, 750 110, 324
62, 259
63, 138
68, 623
.123
.125
.125
.131
.132
.130
.126
.123
.131
.135
.136
. 127 •p . 128
Price, wholesale (Minneapolis)
dol. per Ib
Soybeans:
2
1311 gf5
371 276
21,483
22,119
18,712
19, 777
19, 525
20, 031
21,012
21, 347
19, 891
25, 388
25, 394
23, 869
Consumption, factory
_ _ _ d o . _ 21,181
33, 243
44, 613
24, 355
12, 912
10, 200
10, 775
74, 133
17, 549
10, 541
7,201
20, 117
81, 784
88, 365
Stocks, end of month
do
Soybean oil:
Production:
227, 765 230, 957 214,068 210, 643 218,083 229, 163 243, 635 235, 756 219, 494 206, 411 279, 908 277, 042 261,550
Crude
thous oflb
204, 180 205, 325 187, 174 219, 803 199, 755 217,411 224, 826 182, 704 213, 151 202, 904 240, 688 232, 664 232, 155
Refined
do
Consumption, factory, refined*
. _ do _ 197, 029 192, 795 185, 616 219,097 194, 676 211,230 216, 075 166, 083 190, 072 210, 645 220, 896 T 215,687 234, 323
Stocks, end of month:
83, 164 119, 559 113,578 109, 178 109, 695 135, 084 138, 232
94, 695
109, 116 118,602 128, 114 107, 732 104, 438
Crude
do
70 pgp,
66 197
67, 247
70, 699
66 755
80 090
68 183
64, 702
78, 623
77, 514 r 82 310
73 078
67 093
Refined*
do
.191
. 195
.194
.194
.186
.181
.171
.174
.187
.188
.175
.185
Price, wholesale, refined (N. Y.)_. . _ dol. per Ib
p. 173
Margarine:
116,346 124,476 119,803 125, 781 104, 407 3112,569 105, 024
79, 699 3 91, 592 3113, 923 124, 428 r116, 447 3115 218
Production
thous o f l b
23, 484 3 25, 580 3 24, 252
22, 206 3 25, 881 '322, 835
27, 279 3 23, 763 3 25, 467 3 28, 390 s 26, 428
20, 632
Stocks (factory and warehouse), end of mo -do
23, 703
Price, wholesale, colored, delivered (eastern IT. S.).
.273
.273
.273
.273
.273
.273
.273
.273
.273
.273
dol. per Ib
.273
.273
P. 273
Shortening:
178, 888 172, 515 168, 263 187, 778 159,921 182,210 188, 782 121, 993 151,447 158, 370 180, 783 161,917 141, 387
Production
thous. o f l b
122, 760 3119,826 3 128, 537 3 150, 179 3158,191 3 145, 034 3 154, 234 3 138,949 3149,813 3140,726 3 136, 658 3137,012 3142,961
Stocks, end of month _
_ do
PAINTS, VARNISH, AND LACQUER
Factory shipments total
thous. of dol
Industrial sales
- do
Trade sales
do
SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:
Cellulose acetate and mixed ester plastics:
Sheets rods and tubes
thous. of Ib
Molding and extrusion materials
do
Nitrocellulose sheets rods and tubes
do
Other cellulose plastics
do
Phenolic and other tar acid resins
Polystyrene
Urea and melamine resins
Vinyl resins
Alkyd resins
Rosin modifications
Miscellaneous
do
do
do
do
do
do
do_ __
93, 633
41,811
51,822
109,796
45,017
64, 779
104, 023
44, 363
59, 660
133,311
54, 072
79, 239
135, 089
53, 096
81,993
143, 397
54, 443
88, 954
149, 721
56, 336
93, 385
124, 563
47, 208
77, 355
137, 609
55, 309
82, 300
133, 267
52, 198
81, 069
125,214
54, 792
70, 422
118, 993
53, 223
65, 770
3, 662
6,470
3,290
6, 908
414
553
3,215
7,177
4,281
7,422
483
744
3,265
7,574
427
584
3,247
7,758
403
561
3,903
7, 723
415
333
2. 283
6,271
260
313
3, 390
7,681
329
452
4,012
8,728
3,880
8,374
415
385
3,495
8, 394
451
643
33,010
35, 205
20, 344
49, 773
30, 285
9,209
36, 105
34, 394
36, 860
20, 698
53, 782
31, 441
11.353
35, 806
37, 195
36, 360
20, 676
51,650
31,909
10, 478
37, 041
41, 459
44, 185
24, 956
59. 767
38, 899
12,126
42, 259
39, 448
41,824
23,711
56, 773
38, 835
12, 096
47, 846
39, 876
42, 550
22, 636
61,731
38, 444
11,820
48, 750
41, 994
42, 273
21,231
56, 118
39, 136
11,665
47, 143
30, 288
35, 749
17,110
54, 628
31,979
12, 303
41, 744
39, 087
41, 144
22,416
57. 022
35, 886
10. 767
48, 151
42, 221
50, 304
24, 280
60, 968
36, 700
12, 148
53, 104
44,619
48, 460
26, 498
62, 159
35, 480
12, 628
56, 304
44, 663
48, 272
25, 197
62, 200
34, 464
11,080
58, 258
364
559
413
332
396
430
r
T
3.35
101.241
46, 000
55, 241
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total
mil. of kw.-hr.
Electric utilities, total
do
By fuels
do By water power
do
Privately and municipally owned utilities
Other producers (publicly owned)
Industrial establishments, total
By fuels
By water power... -
do
do
. . _ _ do
do
.. ._ do -
Sales to ultimate customers, total (Edison Electric Institute)
mil of kw -hr
Commercial and industrial:
Small light and power
do
Large light and power
- - - . _ _ _ do
Railways and railroads
Residential or domestic
Rural (distinct rural rates)
Street and highway lighting
Other public authorities
Interdepartmental
- -
do_ do
do
do
do
do
49, 890
43, 449
34, 402
9,047
50, 404
43, 955
34, 526
9,429
46, 269
40, 230
31,659
8,571
51,153
44, 449
34,051
10, 399
48, 376
42, 035
31,567
10, 468
49, 939
43, 354
33, 539
9,815
50, 725
44, 234
34, 525
9,709
52, 924
46, 625
37, 275
9,350
55, 917
49, 353
39, 821
9,532
52, 907
46, 335
38, 168
8,167
54, 206
47, 367
38, 601
8,766
54, 513
47, 751
38, 543
9,208
57, 571
50, 715
41, 408
9 307
36 308
7,140
36 294
7.661
33 230
7,000
36 248
8,201
34 257
7,778
35, 326
8,028
36 012
8,222
37, 848
8,777
40 179
9,175
37, 595
8,740
38, 759
8,608
39, 100
8,651
41 477
9, 238
6,441
6, 020
6,448
6, 139
6, 039
5, 742
6, 703
6, 375
6,341
6,017
6, 585
6, 277
308
6,490
6,204
286
6,299
6, 052
247
6,563
6, 309
254
6,572
6,365
207
6,839
6,608
231
6,762
6, 524
6, 856
6, 632
37 092
38, 198
37, 654
38, 283
38, 140
38, 127
38, 850
39 557
41, 957
42, 122
41, 829
41 688
6, 279
18, 250
6, 384
18,414
6,311
18,133
6, 269
19, 253
6,225
19, 496
6,240
20, 248
6, 586
20, 778
7,601
20, 551
7,497
21, 895
7,476
21, 982
7, 026
22, 512
6,738
22, 364
440
437
416
10,375
719
371
830
51
335
928
334
817
50
365
9,208
879
314
822
49
305
833
49
352
9,706
1,266
330
860
52
354
11 071
399
10,958
605
379
822
48
374
10, 203
356
876
54
356
9,672
954
396
862
51
655. 779
651. 058
644. 841
639, 059
661. 284
690, 352
695, 804
684, 701
421
637
417
820
46
Revenue from sales to ultimate customers (Edison
Electric Instituted
thous. of dol_- 644. 528
T
1
309
601
421
829
40
660. 153
Revised.
v Preliminary.
Revised estimate of 1954 crop. 2 December 1 estimate of 1955 crop.
(units as above): Margarine, 26,960; shortening, 119,597.
* Revisions for January-July 1954 will be shown later.
296
3
329
324
9,917
370
8, 975
958
296
837
52
647, 704
9, 262
1, 160
9,812
1,213
237
224
391
10 073
770
422
883
47
681. 561
Beginning January 1955 excludes quantities held by consuming factories. Comparable data for December 1954
SURVEY OF CUKEENT BUSINESS
February 1956
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1955
1954
Decem-
ber
S-27
Janu-
ary
Febru-
ary
March
April
May
June
1956
July
August
Septem- October Novem- Decem-
ber
ber
ber
January
ELECTRIC POWER AND GAS—Continued
GAS
Manufactured and mixed gas (quarterly ):cf
Customers, end of quarter, total
thousands
Residential (incl. house-h eating)
do
Industrial and commercial
do
Sales to consumers, total
mil. of therms
Residential (incl. house-heating)
_
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 consumers total
mil of therms
Residential (incl house-heating)
do
Industrial and commercial
-do _
Revenue from sales to consumers, total thous. of dol _
Residential (incl. house -heating).-.do
Industrial and commercial
do
5,741
5,318
420
847
552
289
115, 786
84, 816
30, 345
5,510
5,097
409
1,210
879
323
155, 784
118,446
36, 572
5,361
4,961
398
827
516
302
110, 431
79, 476
30, 325
5,173
4,793
378
546
274
264
75 929
50, 946
53, 422
22, 159
20, 398
1, 734
15, 352
4, 723
9,780
695,511
386, 598
288, 052
22, 498
20, 672
1,799
19 565
8,715
10, 159
1,021,488
658, 033
344, 245
22, 641
20, 870
1,744
14, 221
3,931
9,602
648 215
342, 971
287, 646
22 973
21,212
1 734
12 044
l' 741
9 590
478 745
194 055
267 158
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production!
thous. of bbl
6,486
Taxable withdrawals
_ do _
6,440
r
Stocks, end of month! .
_ _ _ do
9 , 161
Distilled spirits:
r
Production!
_
_ _ _ _ _ _
thous. o f t a x g a l
16, 036
Consumption, apparent, for beverage purposes
thous. of wine gal__ 23, 008
Tax-paid withdrawals!
thous. of tax gal__ 10, 667
r
Stocks, end of month!-.
- _ _ -do
840, 707
Imports
thous. of proof gal
2,444
Whisky:
Production!
thous. of tax gal-- 10, 286
Tax -paid withdrawals!
_ - _ _ _ do
6, 022
r
Stocks, end of month!
do
707 346
Imports
_ __
. thous. of proof gal
2,209
Rectified spirits and wines, production, total 9 1
thous. of proof gal_
*r 6, 233
Whisky!
do
5 504
Wines and distilling materials:
Effervescent wines:
Production!
_.
thous. of wine gal
105
Taxable withdrawals!
do
229
Stocks, end of month!
do
1 036
Imports _ _ _
_.do
127
Still wines:
Production!_ __
._
do __
3, 628
r
Taxable withdrawals §!__ _ _
do_ _
12, 6S8
Stocks, end of month §!
do_ ._ r 192, 399
Imports
do
733
Distilling materials produced at wineries!
_do_
6,212
6,216
5,388
9, 577
5 772
5,330
9,647
13, 267
13, 753
12, 333
8,654
842, 588
1 307
12, 949
10,007
843, 285
1 374
8,239
4,742
708 242
1, 162
9,470
5,609
709 665
1,258
r
' 4, 707 ' 5, 489
4 012
4 907
r
143
107
1 170
30
227
83
1 304
29
7 899
6 902
10,193
8 284
7 187
10,815
r
S 968
7 998
11,278
9 394
8 460
11,627
14, 962
13,155
15, 768
15, 505
r
13, 407 Ml, 422
r
842, 566 844, 138
1 802
1 783
16, 130
10, 825
844 320
1 734
9 073
5,181
716 078
1 560
r
r
15, 622
10 725
7, 027
710 970
1 613
r
10 122
5, 361
713 985
1 620
r
7, 171
6 445
160
112
1 333
33
T
1,941 r 1, 643 r 1 937
r
10, 022 ' 10, 5,r6 r 13, 194
r
182, 002 T 171, 795 r 160, 299
402 r 410
555
1 973
1,938
3 204
r
6,340
5 718
r
212
108
1 420
42
178
r
!11
r i 473
51
5, 657
4 909
r
6 432
6 248
10 166
5 775
6 129
9 427
11,379
19 388
34 917
31 189
15, 673
11,369
836 110
1 591
16,906
13,613
834 529
2 253
18. 507
17 083
832 581
2 525
20, 856
16 731
833 201
3 620
5 550
4,526
715 550
1 484
8 142
5,267
716 304
1,421
11 189
7, 226
717 568
2 031
12
9
717
2
863
216
991
310
13 538
8,978
719 656
'-} 282
5, 992
5 315
5,310
4 237
7,382
6 383
10 156
9 013
9,930
8 761
9 210
9 025
11 000
13, 421
9 391
16,915
13, 774
841 496
1 983
14, 217
10, 951
838 800
1 596
8 915
6, 567
715 861
1 816
r
7, 783
6 810
266
137
70
78
175
114
102
132
106
191
160
247
1 401
1 567
1 613
51
1 570
36
1 346
33
54
1 458
1 322
1 281
10, 982
10 174
150, 398 r!40 895
539
526
r 648
T 2 325
1 267
10 842
128 475
8 929
122 153
1 487
9 926
112, 250
513
606
417
900
393
452
5 633
52 431
124, 895
^2 139
.578
102. 465
097 617
.582
91, 585
295 043
.590
r
r
7 252
7 405
10 380
8 913
8 608
11 380
728
19 571
11 120
120 826
79
l'->9
79 474
13 347
184 Oil
61 8
145 546
43 340
13 369
214 698
94, 070
91, 040
202 294
.584
104, 555
84
56
531
505
93
61
506
478
889
93 578
DAIRY PRODUCTS
Butter, creamery:
Production (factory) !
thous. of lb_.
Stocks, cold storage, end of month
do
Price, wholesale, 92-score (New York)___dol. per l b _ _
Cheese:
Production (factory), total !
thous. of Ib
American, whole milk t
do_ Stocks, cold storage, end of month, total _
do
American, whole milk
do
Imports. _ _ _ _ _ _ _ _
do
Price, wholesale, American, single daisies (Chicago)
dol. per l b _ _
Condenscd and evaporated milk:
Production, case goods: !
Condensed (sweetened)
thous. of Ib
Evaporated (unsweetened)
_ _
do
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened)
thous. of lb_.
Evaporated (unsweetened)
__ _ . do
Exports:
Condensed (sweetened)
_
do
Evaporated (unsweetened)
do
Price, wholesale, U. S. average:
Evaporated (unsweetened)
dol. per case.Fluid milk:
Production
mil. of lb_ _
Utilization in mfd. dairy products
do
Price, dealers', standard grade _
dol. per 100 Ib
Dry milk:
Production: $
Dry whole milk
thous. of lb__
Nonfat dry milk solids (human food)
do
Stocks, manufacturers', end of month:
Dry whole milk..do,.
Nonfat dry milk solids (human food)
do
Exports:
Dry whole milk.
_ . _ _
do
Nonfat dry milk solids (human food)
do_
Price, wholesale, nonfat dry milk solids (human
food), U. S. average
_ _
_ dol. per Ib
99, 297
378 610
.608
108, 190
341 655
.583
103, 835
314 568
.581
120, 775
311 462
.579
129, 375
293 203
.579
158, 535
308 154
.579
153, 080
334 ^01
-578
91 475
61 566
548, 850
518, 879
5 111
93 475
64 130
522, 676
492, 833
3 509
90 245
63 010
499, 742
470, 092
3 502
110 480
79 *685
493, 433
462, 949
5 109
126 175
95 890
501, OPO
467, 671
4 195
162 970
129 475
527 '739
493, 909
3 708
157 900
126' 330
581 168
542, 609
3 453
199 02 5
100 715
597 ( 85
561, 482
2 530
113 990
85 340
596' 891
562^ 41 9
3 567
99 595
70 795
5°2 241
559, 448
3 174
.374
.369
.370
.370
.370
.368
.368
.368
.368
.389
.378
.379
.378
2 097
153 218
2 600
164 000
2 110
174 800
2 950
230 100
2 125
255 750
1 700
325 750
2 140
304 500
3 000
257 800
3 010
227 500
2 540
184 500
3 925
164 500
o 07 r
142 200
4 025
152 800
r 3, 739
206, 954
4,775
143, 494
4,569
104 537
3,895
97 640
5,783
135 026
5,526
258 438
5, 570
357 514
6,457
412 415
7,177
448 700
5, 482
427 570
7,381
383 871
7 556
274 432
4,752
214 239
52
8,227
53
11,373
19
14, 079
18, 061
o
38
16.612
81
200
717
10 205
12 419
1 513
9 745
436
9 866
12 346
1 433
10 407
1 512
17 445
9
OKA fi9fi
. 58(5
91
63
566
536?
200
070
481
355
K cno
970
100
094
435
G uqn
i (\• r i o r
.588
190
380
098
729
5.56
5.56
5.56
5.57
5.57
5.57
5.57
5.57
5. 57
5.57
5.57
5 64
5.71
8,841
3,249
5 03
9,105
3,520
r
4 99
8,884
3,396
4 93
10, 447
4, 095
4 84
11,264
4,485
4 71
13, 088
5,591
4 68
12, 665
5,415
4 69
11, 704
4, 449
4 80
10, 616
3,775
4 90
9,618
3,322
5 01
9,324
3,244
5 10
8,724
3,075
5 19
9,023
3, 453
5 10
7,378
94, 994
7,500
110,500
6, 650
105,600
8, 650
132,000
9,100
152,800
10, 650
197,800
10, 325
181,300
8.070
127,500
7,400
98, 600
8,900
89, 100
8,300
88, 200
8,925
87 500
8,750
113 700
8,245
51, 250
8,238
55, 826
6 712
60, 918
7 678
64, 126
7 477
88, 341
9 067
125, 861
10 773
150, 162
12 281
140, 501
11 875
117, 246
10 998
101, 566
10 314
87, 758
10 640
81, 231
8 661
80, 677
3,130
14, 080
2,982
25, 699
3,616
9,549
3 830
35, 616
4 626
22 455
3 196
2 060
3 111
32 575
3 901
17 066
4 588
17 371
2 871
17 859
3 988
17 712
3 244
26 148
.155
.154
.154
.153
.153
.152
.153
.153
' Revised.
1
cf Revisions for 1953 and for the 1st and 2d quarters of 1954 are available upon request. Totals include data not shown separately.
.154
.155
.154
.154
Amei
~"~"~580~
.375
9,604
504
.154
1954; dairy products—butter, cheese, (total and
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
February 1056
1955
Decem-
January
ber
Febru-
March
ary
April
May
June
1956
July
DecemOctober November
ber
Au?
January
FOODSTUFFS AND TOBACCO— Continued
i
FRUITS AND VEGETABLES
Apples:
Production (crop estimate) ._
thous. ofbu MOO, 854
2, 886
Shipments, carlot
no. of carloads..
Stocks, cold storage, end of month
thous. of bu. . 24, 878
Citrus fruits, carlot shipments
no. of carloads . 11,610
Frozen fruits, juices, and vegetables:
Stocks, cold storage, end of month:
Fruits
thous. of Ib . . 377, 950
248, 001
Fruit juices
do
649, 321
Vegetables
do
Potatoes, white:
Production (crop estimate)
thous of bu 1356 031
Shipments, carlot
- no. of carloads - 14,141
Price, wholesale, U. S. No. 1 (New York)
3. 698
dol. per 100 lb._
2,471
18, 975
2,413
13, 194
2,498
7,793
2,187
4,114
9, 445
8,678
9,503
9,304
i
268, 216
1,860
1,677
810
376
362
212
234
233
539
9,121
3, 466
34, 379
9,731
9,965
8,223
6,308
4,696
4,467
2 105,293
' 2, 935 ' 2, 783
34, 854
27, 559
2, 333
'4,742 r 10, 887
8,324
1
386, 726
456, 995
222, 407
451,283
426, 679
208, 365
513,638
396,454
250, 582
492, 970
418,876
391,944
417, 332
482, 910
440, 672
362, 434
605, 154
16, 750
22, 498
20, 865
18, 502
24, 758
10, 035
9, 463
11, 641
3. 225
3. 342
3.750
7.167
6.508
4.131
2.563
3.269
3,033
3.217
41, 430"
35, 549
43, 395
52, 778
29,690
29, 620
41,461
50, 275
46, 723
39, 177
35, 827
38, 968
i 370, 502
do
10, 070
_.do. -
16,321
8, 975
10,311
7,140
9,112
18, 249
24, 067
26, 258
16, 156
14, 266
13, 836
2 390,969
13, 975
13, 013
' 27 517 27, 141
23, 121
165, 195
4,175 ' 1, 352 3, 761
21,184
19, 701
16, 954
32, 696
28, 468
••256,013
12, 168
8, 050
28, 168
26, 149
25, 167
9,478
5,050
27, 038
189 510
1. 235
1.116
1.239
1. 099
348, 163
296, 333
576, 981
309, 152
357, 503
505, 428
18,281
470,439 ! 458, 921
325,288 287, 547
672,574 692, 821
444. 087
245, 393
663, 160
416, 673
258, 025
621, 721
2
381,631
13, 585 ' 14, 824 ' 15, 410
18, 542
' 3. 206 p 2. 884
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye, wheat).--thous. of bu._
Barley:
Production (crop estimate)
Receipts, principal markets
Stocks, domestic, end of month:
On farms
do
Exports, including malt
-do
Prices, wholesale (Minneapolis):
1.441
1. 420
No. 2, malting
..dol. per bu_.
] . 290
1.350
No 3 straight
do
Corn:
i 3, 010
Production (crop estimate)
mil of bu
10, 954
Grindings, wet process
thous. of bu_. 11,670
30, 975
27, 831
Receipts, principal markets
... -do
Stocks, domestic, end of month:
' 65, 218 62, 809
Commercial
do
On farms
mil of bu '2 093.2
9,569
6,980
Exports, including meal
- - - thous. of bu_.
Prices, wholesale:
1. 522
1.524
No. 3, yellow (Chicago)
dol. per bu..
1.450
1.448
Weighted average 5 markets, all grades
do _
5,019
3, 534
' 23, 527 31, 574
'343,724
4,776
5,369
9,017
1.431
1.413
1.439
1.342
1.443
1.342
1.421
1.291
1.412
1.290
1.279
1. 180
1.271
1.171
1.240
1.127
1. 258
1. 155
1. 251
1.130
10, 836
19, 423
11,949
15, 530
10, 621
13, 028
11,524
18, 433
11,912
19, 683
10, 938
17, 535
12, 541
30, 689
11, 358
28,185
12, 502
40, 062
11, 590
51, 592
3 185
11,188
22, 843
63, 192
56, 199
'1 425.7
11, 434
46, 385
41,315 ' r36, 805 27, 070
948. 9
4,408
5,666
11, 768
28, 050
65, 517
70, 910
2, 191. 4
73, 073
8,088
31, 710
3 310 8
11, 352
38, 721
9, 955
1.495
1.434
1.463
1.390
1.460
1.439
1.472
1.490
1.305
1.323
1.307
1.244
1.188
1.180
1. 173
1.201
1.250
1.269
1.245
1.268
23, 146
22, 109
8,727
5,185
6,349
2 1, 576
8,887
23, 085
38, 217
37, 581
'1,246,086
2, 175
.610
33, 297
27, 283
26, 575
981, 205
22, 693
7,241
136, 489
27, 053
66, 097
24, 959
46, 122
21, 970
69, 504
35, 426
24, 692
81,284
95, 868
101, 792
106,170
r 116,
721
2
4,784
1.482
1.487
1.473
1.483
Oats:
1
1, 497
Production (crop estimate)
mil of bu
6, 629
5,392
10,510
12, 704
8, 193
7,159
8,371
Receipts, principal markets- _ _ _ _ _ _ thous. of bu.
Stocks, domestic, end of month:
15,866
20, 055
20, 499
14,498
15,833
20, 448
17, 886
Commercial
- -- -- do . .
3249.213
'920,789
'551,570
On farms
do
3,237
701 "~i~862~ ""I, "260
3, 061 "~i~782" ~ ~ ~ i ~ 5 2 7 ~
Exports including oatmeal
_ - _ do
.712
.814
.797
.708
.710
.839
. 771
Price, wholesale, No. 3, white (Chicago), dol. per bu_Rice:
Production (crop estimate)
thous of bags 9
California:
Receipts, domestic, rough
thous. of l b _ _
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of month
thous. of Ib
Southern States (Ark., La., Tenn., Tex.):
Receipts, rough, at mills
do
Shipments from mills, milled rice
_ do
Stocks, domestic, rough and cleaned (cleaned
basis) end of month
mil o f l b
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._
Wheat:
Spring wheat
do
Receipts principal markets
thous of bu
Disapnearance
do
Stocks, end of monthCanada (Canadian wheat)
_ - - _,_do__ _
United States domestic total cf
mil o f b u
Commercial
- ...
... thous. of bu..
I n t e r i o r mills, e l e v a t o r s , a n d w a r e h o u s e s
thous of bu
Merchant mills
do
On farms
do
Exports, total, including
"Wheat only
flour
do
do
1
~2~ 049" ~~"i~6i2~
.578
(4)
11, 292 "16," 855"
3,123 """2," 838"
.635
(4)
64, 216
31, 945
28, 489
129, 028
70, 745
125, 049
133. 373
119,108
101,451
142, 168
93, 542
133, 772
117,056
89, 733
59,811
117, 630
109, 027
127, 276
85, 952
67, 491
72, 047
47, 693
49, 203
17, 510
62, 941
98, 056
50, 954
113,344
61,315
112,015
58, 409
133, 727
18, 276
115,091
10, 437
88, 903
15,054
65, 285
12, 660
71, 627
238, 219
120, 707
987.9
44, 623
.094
916. 5
42,515
.094
784.8
25,011
.094
653. 8
112,005
.094
610.1
75,114
.105
599.2
123. 393
. 113
495. 9
76, 788
.113
389.4
137, 272
.113
360.6
42, 291
.093
661. 6
150, 886
.089
1 , 097. 0
153, 729
.089
1,127.8
118, 445
.093
24, 320
921
10, 940
1. 300
1, 296
' 9, 541
1.420
419
9. 274
1. 396
206
8,779
1.322
282
8, 498
1.246
291
6,679
1. 233
858
6,496
1.142
2, 877
8,673
1.042
1,638
9,138
1.046
902
8, 932
1.112
1,384
8,136
1.061
1,674
8,414
1.026
i 984 8
180 5
804 3
25, 923
'"213,573
T
1
1
23, 349
43, 754
986,179 1,032,421 241, 850
260, 028 185,179 121,168
I
28, 032
r
354, 877 356, 258
'1 471 4
374, 369 366, 942
517, 943
126, 382
'321 321
26, 544
22, 643
. 668
2 53, 420
85, 457
33, 125
1
.694
28, 084
19, 823
r
27, 482
* 254, 060
343, 399 T 332, 021
'1 218 2
351, 913
356, 237
24, 105
r
38, 436
36, 015
'207, 108
31, 802
24, 768
2 938 2
2 232 8
2 705 4
21,007
219, 910
324, 164 '323,669 ' 348. 489 ' 378, 766 '372,182 '374,487 '•366,890 ' 363, 288 ' 364, 732
'31,021.6
'1 753 7
1, 535. 0
364, 462 3380,409 427, 416 446, 093 448, 678 440, 750 421,248 403, 181 390,508
3399,298
3 60, 144
'339 130
430. 732
101.475
27, 907 i 33, 109
23, 828 j 28, 184
57, 958
2 29 187
1, 553
8. 369 ~~~6~714
1. 160
1.156
351, 749
'211 592
24, 567
21,149
45, 199 101, 574
199. 1 4 6
p. 093
19, 498
14,373
18.904
14, 745
26, 798
22, 383
'594 312
'141 403
' 428, 541
27, 051
23, 376
24, 501
20, 762
17,283
14, 242
543,101
126,878
320, 800
11,422
7, 153
19,312
14, 534
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
2.621
2. 668
2. 729
2. 756
2.742 j 2. 734
2, 513
2.478
2.758
2.511
2.487
2.447
2. 505
2.708
dol. per bu._
2.410
2. 461
2. 443
2. 531
2.198
2. 1 55
2 456
2. 190
2. 160
2. 253
2. 242
2.151
2. 465
No 2, hard winter (Kansas Citv)
.-do
2.207
2.230
2. 280
2. 278 ' 1. 948
1. 968
2.338
2. 156
1.945
1.923
2.204
2.035
No 2 red winter (St Louis)
do
2.043 i 2. 153
2.205
2. 666 : 2. 428
2. 263
2.610
2.478
2. 593
2.646
2. 635
2. 407
2.397 ! 2. 445
2.603
2.461 i 2. 445
Weighted avg., 6 markets, all grades
do
r
l
2
Revised.
»
Preliminary.
Revised
estimate
of
1954
crop.
December
1
estimate
of
1955
crop.
4
3
No quotation.
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 Ib.
cf The total includes wheat owned by the Commodity Credit Corporation and stored off farms in its own steel and wooden bins; such data are not included in the breakdown of stocks.
SUEVEY OF CURRENT BUSINESS
February 1056
1954
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
December
S-29
1955
January
February
March
April
May
June
1956
July
August
Septem- October Novem- December
ber
ber
January
FOODSTUFFS AND TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Continued
Wheat flour:
Production:
Flour
_
-thous. of sacks (100 lb.)_. 19, 174
78.3
Operations, percent of capacity
Offal
_ short tons._ 382, 856
19, 156
85.6
384, 216
17, 714
83.1
356, 211
19, 884
81.1
394, 156
17, 428
78.1
347, 874
17, 523
78.4
349, 892
18, 470
78.8
371,280
17,612
82.6
356, 099
18, 615
76.0
371, 633
19, 174
85.7
377, 855
21, 000
93.8
411, 194
19, 758
88 3
384, 694
19,317
86 3
376 700
44, 524
44, 567
41, 186
46, 104
40, 443
40, 691
42, 944
41, 063
43, 239
44, 301
48, 369
45, 489
44, 462
2,199
1,785
4,111
1,895
1,577
1,605
4,632
1,305
1,832
2 050
Grinding of wheat
_
_ -thous. of bu._
Stocks held by mills, end of quarter
thous of sacks (100 Ib.)
Exports
do _ - Prices, wholesale:
Spring, short patents (Minneapolis)
dol. per sack (100 Ib.) _
Winter, hard, short patents (Kansas City)-_do
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
thous. of animals. Cattle
do
Receipts principal markets
do
Shipments, feeder, to 9 corn-belt States _ __. .do. .Prices, wholesale:
Beef steers (Chicago)
_
dol. per 100 Ib
Steers, stockcr and feeder (Kansas City)
do
Calves vealers (Chicago)
do
Hogs:
Slaughter (federally inspected)
thous. of animals. .
Receipts principal markets
do
Prices:
Wholesale, average, all grades (Chicago)
dol. per 100 lb-_
Hog-corn price ratio
bu. of corn equal in value to 100 Ib. of live hog..
Sheep and lambs:
Slaughter (federally inspected)
thous. of animals
Receipts principal markets
do _
Shipments, feeder, to 9 corn-belt States _ _ -doPrices, wholesale:
Lambs average (Chicago)
dol. per 100 Ib
Lambs feeder, good and choice (Omaha)
do~ MEATS
Total meats:
Production (carcass weight, leaf lard out), inspected
slaughter
_
- mil. o f l b
Stocks (excluding lard), cold storage, end of month
mil. of lb__
Exports (including lard)
do
Imports (excluding lard)
_ ._ _ do
Beef and veal:
Production, inspected slaughter
_ thous. of lb._
Stocks, cold storage, end of month
do
Exports _
-_
.__
_
_ __ do
Imports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(fiOO-700 Ibs) (New York)
dol. pcrlb_.
Lamb and mutton:
Production, inspected slaughter
thous. of lb_.
Stocks cold storage end of month
do
Pork (including lard), production, inspected slaughter
thous. of lb__
Pork (excluding lard):
Production, inspected slaughter
do __
Stocks, cold storage, end of month.. ... _. _do
Exports
do
Imports
_ -.
._
do Prices, wholesale:
Hams, smoked, composite
dol. per lb__
Fresh loins. 8-12 Ib. average (New York)
do
Lard:
Production, inspected slaughter
thous. of lb._
Stocks, dry and cold storage, end of month
do
Exports
do
Price, wholesale, refined (Chicago)
dol. per lb_.
4,661
1,674
1,467
1,750
4,713
2,114
6.910
6.325
6. 755
6.205
6.650
6.025
6.805
6.095
6.645
6.060
6.990
6.225
6.800
6.030
6. 755
6.030
6.150
5. 775
6. 225
5.625
6.275
5.775
639
1,583
2,177
355
563
1, 521
2,322
294
517
1 313
1, 767
171
660
1, 524
2,086
212
596
1, 452
2,040
272
588
1 560
2,277
236
611
1 641
2,122
149
550
1 524
1,956
169
646
1, 797
2, 596
«257
710
1, 752
2, 533
"529
728
1 693
3,058
947
700
1 662
2 674
734
2 091
420
26. 21
19. 23
21. 00
26. 12
20. 40
27.00
24. 46
20. 46
29. 00
24.12
21.28
25. 00
23.36
21.25
20.00
22. 18
20.01
24.00
22.15
19.03
23.00
22. 52
18.19
22.00
22. 33
17. 69
23. 00
22.67
17.97
24.00
21. 95
18.02
26. 00
20 84
16. 92
22 00
20 30
15. 89
P 24 00
6, 119
3, 315
5, 519
3,183
4, 638
2, 587
5, 491
2,924
4,472
2,473
4,164
2,337
3,713
2,140
3,428
1,929
4,475
2,519
5,144
2,682
6,144
3,251
6, 857
4 099
7 394
4 056
16.97
16.51
15.91
15. 90
16.48
16.39
17.54
16.12
15.31
15.75
14. 30
12.01
10.38
11. 08
12.2
12.1
11.7
11.3
12.2
11.7
13.1
11.9
12.1
12.7
12.7
11.2
9.2
9.4
1, 167
1,192
185
1,223
1,334
226
1,080
1,029
135
1,244
1,166
120
1,180
1, 302
156
1,228
1,246
113
1,205
1,110
96
1,076
1,043
147
1,239
1,288
a 259
1, 344
1,625
« 545
1,248
1,797
513
1, 162
1 273
'247
1 , 1 tt
I 091
161
19. 25
18.05
20.88
20.22
21.75
20.75
22.75
20.97
21.50
19.83
23.00
0)
23.50
0)
21.12
0)
20.75
2 17. 60
19.75
17.83
19.50
18.18
18 62
17 88
18 25
16 68
2,120
1,993
1,665
1,962
1,736
1,760
1,753
1,596
1,897
1,977
2,121
2 254
2 340
800
81
24
844
75
24
837
69
19
835
65
27
822
74
22
740
55
27
614
51
29
529
50
30
448
53
30
405
49
26
444
81
23
601
91
28
782
912, 239
208, 380
6, 718
5, 795
883, 371
193, 580
6, 993
6, 511
760, 473
166, 014
6, 443
5 725
890, 867
154, 349
3,369
9 082
844, 205
143, 849
1,934
8 361
901, 574
130, 593
2,547
8 760
952, 637
117, 362
2,188
13 197
878, 641 1,032,932 1,021,504
115, 238 120, 581 120,886
2, 852
2,721
2,426
12, 244
12 070
14, 072
999, 507
136, 278
3,100
9 428
970, 324
176,613
2 349
12 150
961, 519
227, 485
5 078
' 6. 165 v 6. 070
r 5. 625 P 5. 750
633
1
p,1 7
.455
.460
.449
.435
.417
.402
.398
.395
.405
.420
.396
.376
.362
54, 704
9,714
58, 810
8,767
53, 174
8,743
61, 429
9,089
56, 802
9, 677
57, 606
9, 957
52, 892
8,851
47, 030
8,597
54, 343
8,737
58, 742
8,683
55, 245
9,569
52, 853
53, 849
10 7"
851, 694 1,009,567
834, 963
800, 728
747, 208
670, 129
809, 765
896, 472 1,065,839 1,230,521 1,324,890
628, 102 749, 899 618, 489
530, 537 543, 929 539, 434
6 244
6 476
6 344
11,573 ' 15, 244 11,336
587,211
477, 028
5 969
15, 484
549, 989
375, 741
5 491
H, 272
494, 676
297, 962
4 231
15, 526
605, 362
218, 624
3 642
13,717
678, 528
179,182
4 461
11, 633
805, 841
205. 197
6 441
11,513
908 359
306* 714
5 823
14 503
967 766
421 624
. 534
.472
.539
.458
.501
.492
.456
.409
.454
.374
p. 448
.326
1,153,238 1,050,606
843, 809
448, 645
4,037
16, 074
. 556
.412
225, 859
104, 125
57, 324
.173
POULTRY AND EGGS
Poultry:
64, 744
Receipts 5 markets
thous of Ib
269, 863
Stocks, cold storage (frozen), end of month
do
Price, wholesale, live fowls, heavy type, No. 1
.175
(Chicago)
_
_ _ _ dol. per Ib
Eggs:
Prod uction, farm
m illions. _
5, 589
Dried egg production
thous. of lb_.
1,336
Stocks, cold storage, end of month:
193
Shell
thous. of cases. .
Frozen
..
_ _
thous. of Ib
74, 928
Price, wholesale, extras, large (Chicago)
dol. per doz._
.317
771, 981
504, 624
4,843
15, 292
. 536
.431
r Q 884
.479
.425
.479
.422
.506
.453
.525
.508
.540
.564
203, 886
124, 391
54, 807
.163
163, 743
137,882
47, 253
.153
189,884
137, 357
46, 056
.156
158, 080
140, 352
56, 492
.168
156, 320
144, 149
36 591
.148
144, 297
133, 394
32, 365
.155
128, 545
117, 578
29, 886
.155
149, 419
97. 014
35, 672
.133
159, 349
75,011
30 545
.138
190, 120
74, 756
56 426
.153
235, 332 261,249
98 426 146 9S5
66 532
' . 138 P . 125
40, 480
251,296
36 267
211, 258
39, 349
162, 472
40, 666
127, 549
48 999
107, 309
50 411
97, 960
46 646
101, 942
55 937
119, 769
58 494
161,947
68 413
258, 413
80 480
259, 687
74 756
229, 294
.188
.243
.280
.240
.253
.245
.245
.215
.235
.233
210
5,771
1,919
5, 518
1,902
6, 584
2,357
6, 529
2, 932
6,440
2, 913
5,701
3,292
5,285
2,643
4, 895
1, 319
4,798
1,159
5,181
1, 136
5, 186
739
5, 467
449
235
66, 245
268
62, 517
479
83, 672
1,183
125, 833
2,088
170, 933
2,292
193, 888
2,244
194. 706
1,680
179 920
1,140
155 365
804
127 847
333
101 395
113
75 204
.334
.422
.410
.373
.346
.369
.370
.464
.514
84, 645
85, 277
83, 644
76, 950
62, 435
65, 623
47, 198
60, 941
106, 860
. 496
.501
f>
r
Revised.
* Preliminary.
thous. of dol__
long tons..
dol. per lb._.
1 No quotation.
r
100,215
22, 494
18, 874
19, 264
26, 268
.375
.400
.468
.488
Average for 2 weeks (August 22—September 2).
27, 181
.475
2
14, 339
21, 109
19, 726
11,656
16, 335
.365
.318
.370
.333
.381
« For 8 States (South Dakota excluded).
.514
106,842 * 115. 327
99, 065
14, 738
.340
p . 324
21, 336
.324
19 00
16 96
.368
.346
47 239
235
MISCELLANEOUS FOOD PRODUCTS
Confectionery, manufacturers' sales
Cocoa or cacao beans:
Imports (incl. shells)
Price, wholesale, Accra (New York)
20 01
17.13
.447
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
February 1956
19 55
January
February
March
April
June
May
July
August
Septem- October Novem- December
ber
ber
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS
FOOD PRODUCTS— Con.
Coffee:
Clearances from Brazil, total
thous. of basso*. To United States
do
Visible supply, United States
do Imports
do
Price, wholesale, Santos, No. 4 (New York)
dol. per lb__
Fish:
Stocks, cold storage, end of month
thous. of lb_ „
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 -
1, 082
630
799
2,084
918
424
729
1.JB99
.685
.670
.545
.583
.580
.545
.585
.535
.550
.610
.568
194, 338
175,001
150, 471
127, 477
122, 669
128, 899
139, 582
168,310
184,217
191, 504
190, 783
2, 087
1,888
2, 513
4, 288
4, 688
4,478
3,988
3, 638
3,132
2,882
549,214
215, 486
146, 234
149,465
317, 409
29, 065
43, 747
443, 730
102, 247
55, 429
558, 851
171,995
48, 992
630, 496
208, 785
37, 866
634, 000
234. 789
45, 901
476, 796
173, 424
35, 545
611,799
212,814
47, 821
756, 514
298, 793
569, 000
567, 000
2, 468
572, 995
569, 723
3,272
711,171
706,617
4, 554
625, 097
619,459
5, 638
697, 094
681,204
5,890
823, 025 861,826
820, 274 857,594
2, 751
4, 232
1,889
583
1,823
541
1,781
418
1, 753
604
1,612
401
1,329
613
329, 562
263. 644
65, 840
23, 063
14,144
303, 089
229, 478
73,610
42, 861
30, 933
344, 404
256, 507
87. 894
68, 783
54, 288
303, 954
207,315
92, £60
46, 308
45, 905
323, 786
130,787
189, 845
38,816
38, 371
. 060
. 060
. 498
. 085
10, 198
.497
. 085
10, 225
r
Deliveries, total _ _ _ .
do.-. 671, 196
669, 122
For domestic consumption
do
2,074
For export
.
.
do ...
Stocks, raw and refined, end of month
1,927
thous. of short tons__
Exports
short tons..
690
Imports:
101,453
Raw sugar, total
do
87, 990
From Cuba
do
3, 051
From Philippine Islands
do
679
Refined sugar, total
_ . . _ do
50
From Cuba
do
Prices (New York):
. 060
Raw, wholesale
dol. per Ib
Refined:
.497
Retail §
dol per 5 Ib
.085
Wholesale
doi per Ib
8,494
Tea, imports
thous of Ib
TOBACCO
Leaf:
Production (crop estimate)
__ .mil. o f l b _ _ i 2, 244
Stocks, dealers' and manufacturers', end of quarter,
4,774
total
mil oflb
Domestic:
301
Cigar le'if
do
Air-cun-d, fire-cured, flue-cured, and miscella4 269
neous domestic
mil o f l b
Foreign grown:
17
Cierar leaf
do
186
Cigarette tobacco
do
Exports, including scrap and stems.. ...-thous. of lb._ 39, 430
7,640
Imports, including scrap and stems
do
Manufactured products:
14,556
Prod uction , manufactured tobacco , to tal
do
5, 689
Chewing plug, and twist
do
5. 764
Smoking"
do
3.104
Snuff
do
Consumption (withdrawals):
Cigarettes (small):
2, 805
Tax-free
millions
26, 651
Tax-paid
^
do
Cigars (large), tax-paid
'.
thousands.- 425. 958
Manufactured tobacco and snuff, tax-paid
14,842
thous. o f l b .
1,399
Exports cigarettes
millions
Price (wholesale), cigarettes, manufacturer to wholesaler and jobber, f. o. b. destination
3.938
dol. per thous--
578
228
776
1,338
i
923
490
51.7
1,473
996
645
520
1,353
723
322
490
1,775
1,356
829
546
1,357
943
497
492
1, 547
1,221
681
527
1,415
1,882
1,134
528
2,215
1,810
1, 207
521
1, 480
1. 126
657
831
1,661
914
564
2,144
. 530
.540
r
188. 953
175, 297
2, 532
2, 132
1,882
119, 175
541,149
240, 626
521,457
515, 800
201,641
752. 375
449, 748
168, 780
164. 908
88, 590
884, 525
879, 436
5, 089
798, 299
793, 627
4,672
733, 258 r 609, 182 571,554
727, 967 * 604, 932 569, 169
' 4, 250 2,3S5
5, 291
1,091
406
963
304
864
290
1,132
606
301, 645
164,425
133, 580
40, 764
40, 552
341, 875
190, 523
132,418
32, 794
31,735
365, 892
204, 979
155, 457
24, 751
22, 359
263, 483
189, 940
46, 256
40, 798
39. 271
261.645
231, 389
30, 252
14, 303
12. 546
. 058
.059
. 060
.060
.061
.060
. 060
.061
. 494
.084
15,459
.495
.084
7,842
. 495
. 084
7, 61 5
. 496
.084
4, 366
.496
.084
7,490
.496
.084
8, 633
.496
.084
8, 695
.497
.085
8,047
' 1. 717
909
.535
1, 918
265, 534
242, 385
16,513
7,334
5,677
'. 059
p. 058
.501
. 085
9, 341 _
. 501
P. OS5
2 2. 256
4,819
4,404
4,708
376
36S
334
307
4, 233
3. 845
4, 202
4 675
5 176
30, 931
8, 699
28, 033
8, 482
19
191
36, 867
9, 594
18,643
8,864
21,846
9,390
18
173
25,199
10,831
48, 826
8,414
45, 236
9, 698
18
154
85, 404
9,479
85," 254
9, 766
63. 404
10. 383
16,251
6. 536
6,516
3,199
1 5, 698
6,012
6, 377
3, 309
18,618
7, 253
7, 653
3,711
16,636
6, 455
6. 832
3, 349
17,886
6, 896
7, 641
3, 349
18,110
7, 363
7,140
3, 606
12,763
5, 468
5, 233
2, 062
17,934
7,233
7,024
3,678
17,388
6. 967
7, 054
3. 366
17 395
6, 880
7, 256
3, 260
16,
6,
6,
3,
2, 644
30. 438
408, 334
2,516
28, 655
399, 885
2. 672
33. 695
467, 522
2, 399
28, 788
445. 701
2, 339
34,-498
51 6, 022
2, 723
35, 648
510.219
2, 369
28, 561
414,250
2,232
36, 760
535, 596
2. 937
32, 076
533, 707
1 5, 921
1, 109
14, 968
1,447
18,242
1,213
1 6, 320
1,208
1 7, 308
1,169
1 7, 555
1 , 275
13, 021
1,468
17, 518
1,080
3 938
3. 938
3. 938
3. 938
3. 938
3. 938
3.938
19
175
179
627
304
249
2, 449
32 937
551,082
2.416
32, 644
613, 199
16. 624
1,2«0
16,807
1, 402
16. 909
1,226
3.938
3. 938
3. 938
3.938
12, 581
159
23
2,277
2, 776
1 1 , 698 1
129
41
2,313 1
2, 197
7, 281 i
91
15
1,964
578
11,541
292 i
18 i
2,172
2, 298
9,640
81
28
2,412
890
!
. .T(l()
. 133
1
P 3. 938
LEATHER AND PRODUCTS
|
HIDES AND SKINS
Imports, total hides and skins 9 _lhous. of Ib._
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^/15 Ib
dol. per lb_.
Hides, steer, heavy, native, over 53 Ib
do
7,125
55
1,836
628
. 325
. 098
9,227
91
51
2,513
986
;
;
1
i
.325 !
. 108 |
9, 217
117
58
1,701
1,576
.375
. 108
16,806 i
83 1
43 i
2,422 !
5.082
8,336
101
9
2.453
1,079
.400 I
.105 |
.490
.118
.425 1
.108
400
.120
.450
. 135
.475 1
.138
. 475
.148
. 500
.148
882
2,148
2,186
2,143
863 j
2,169 '
2.227
2,266
891
2,219
2,394
2,243
606
1.664
1,823
1, 574
871 i
?()9 !
1 , 994
2,498 !
827 i
2 157 !
1 , 996
2,074
890 !
9 5>m
2, 1 82
2, 163
836
2. 230
2. 230
2.329
j
i
!
99 1
33
3,989
71
88
2.826
67
19
3,334
39
72
2, 839
85 :
85 i
3, 407
64 l
12 i
3, 576
121 '
30 ;
3, 429 j
57
77
3, 009
\
. 600
. 605
. 603
. 603
.595 i
.600
.600 ;
.605
'
. 930
. 950
. 920
.942
.987 '
.998 '
.987 ';
1.022
LEATHER
Production:
956
945
983
1,019
Calf and kip__
thous. of skins_2.192
2.109 i 2,085
2,325
Cattle hide
thous of hides
2, 433
2,197 i 2.171
Goat and kid
thous. of skins. . 2. 190
1 , 923
2,144
1,923
2,117
Sheep and lamb.
... do
Exports:
Sole leather:
61
34
32
102
Bends, backs, and sides
thous of lb.
19
20
73
39
Offal, including welting and belting offal, ._ do
3,224 ; 3,418
4,029
3, 574
Upper leather
thous. of sq. ft.Prices, wholesale:
. 595
Sole, bends, light, f. o. b. tannery
dol. per lb-_
. 595
. 595 !
. 600
Upper, chrome calf, B and C grades, f. o. b. tan.870 l
.893
. 910
.877
nery
dol. per sq. ft_.
T
v
Revised.
Preliminary.
1
2
Revised estimate of 1954 crop.
December 1 estimate of 1955 crop.
cf Bags of 132 Ib.
§Data represent price for New York and Northeastern New Jersey.
i
11,952 !' 13.309
105 ?
130
30
19
3.216 ! 2, 158
2,575 ! 2,712
:
9
9 Includes data for types not shown separately.
P. 500
P. 133
v. 605
1
M.022
:::::::::
SURVEY OF CURRENT BUSINESS
February 1956
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1955
1954
Decem-
ber
S-31
Janu-
ary
Febru-
ary
March
April
May
June
1956
July
August
Septem- October Novem- December
ber
ber
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers:
Production, total
thous. of pairs
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 house-wear
do
Athletic
do
Other footwear
_ _ _ __.
_ __ do
Exports
do _
Prices, wholesale, f. o. b. factory:
Men's and boys' oxfords, dress, cattle hide upper,
Goodyear welt _. .
1947-49=100-Women's oxfords (nurses'), side upper, Goodyear
welt
1947-49 = 100..
W omen's and misses' pumps, suede split __ _do
44, 165
48, 424
48 971
57, 398
47, 979
47, 160
49, 590
41, 054
54 115
50, 610
48, 197
42, 921
45, 551
39, 939
45, 477
45, 322
52, 611
43, 344
41, 992
43, 422
36, 037
46, 691
42, 767
40, 628
36, 162
40, 834
8,934
1, 585
19, 606
6 345
3,469
9,041
1,914
24, 605
6 432
3, 485
8,928
1,851
24, 876
6 444
3.223
10, 037
2,244
29, 405
7 090
3. 835
9,321
1,807
23, 832
5 248
3, 136
8,916
1,726
23, 038
5 366
2, 946
8,887
1,961
23, 529
5 918
3, 127
7 409
1,688
20 290
4 609
2,041
9,316
1,997
26 246
6 074
3.058
9 127
1, 857
23 622
5 223
2, 938
9,246
1, 586
21, 472
5 358
2 966
7, 905
1,331
19, 142
5 060
2,724
8,711
1, 586
21, 674
5 705
3, 158
3, 757
337
132
283
2,429
331
187
303
3.098
337
214
372
4,215
370
202
509
4,133
369
133
336
4,689
352
127
262
5, 566
342
260
212
4 569
254
194
256
6 461
386
577
330
7, 245
388
210
392
7,068
375
126
368
6,274
370
115
335
4, 185
388
144
110.0
110.0
110.0
110.0
110.0
110.0
110.0
110 0
110 0
110. 0
112 8
116.8
V 116 8
116.8
112.3
116.8
112.3
116.8
112.3
116.8
112.3
116.8
112.3
116.8
112.3
116.8
112.3
116.8
112.3
116 8
112.3
116.8
112.3
118. 1
117.4
118. 1
117.4
f 118 1
P 117.4
3 653
3 543
LUMBER AND MANUFACTURES
LUMBER— ALL TYPES
National Lumber Manufacturers Association: t
Production, total
mil bd ft
Hardwoods
do
Softwoods
. ...
do
3 085
586
2,499
2 812
561
2,251
2 946
'605
2,341
3 387
3 253
2 888
614
3 431
577
671
703
2,641
2,816
3 598
' 635
2, 963
3 111
612
622
3 042
629
2.758
2 465
3, 039
2 872
2 728
669
2,442
2 280
3 067
588
2 479
2 827
584
2 243
2 966
3 481
3 466
3 519
3 754
3 235
3 360
3 076
658
697
678
688
641
755
716
2 823
2 769
2 841
3 066
2 594
3 670
'703
2 967
3 471
667
2 299
2 759
2 605
2 360
2 778
'672
2 106
9 241
3,966
5 275
9 225
3, 943
5 282
9 205
3,881
5 324
9 111
3, 852
5 259
8 898
3,767
5 131
8 818
3 711
5 107
8 662
3 658
5 004
8 468
3 594
4 874
8 454
3 506
4 948
8 526
3 464
5 062
8 597
3' 411
5' 186
8 618
3 364
5 254
8 729
3 300
5' 429
63 251
281,356
53 776
251, 592
84 682
262 054
65 670
292 816
68 963
262, 035
86 261
314 087
74 556
353 651
60 614
307 625
74 673
385 231
60 868
35l' 108
K9 154
309' 254
56 231
272, 349
889
801
829
832
879
758
829
807
729
957
732
810
828
752
906
791
908
925
1 033
1 016
961
868
803
884
935
829
849
830
848
918
911
826
853
934
837
752
819
648
759
725
719
762
850
776
800
655
676
815
742
873
603
606
740
672
942
649
583
709
672
968
Exports, total sawmill products.
M bd. ft
32 448
Sawed timber
do
8 398
Boards, planks, scantlings, etc . _
do
24 050
Prices, wholesale:
Dimension, No. 1 dried, 2" x 4", R. L.
dol. per M bd. ft.. 82. 999
Flooring, B and better, F. Q., 1" x 4", R. L.
dol. per M bd. ft— 131. 361
Southern pine:
Orders, new
mil. bd. ft_.
630
Orders, unfilled, end of month
do
239
Production
do
694
Shipments
do
650
Stocks, gross (mill and concentration yards), end of
month
mil. bd. ft
1 746
Exports, total sawmill products _
M bd. ft
7,442
Sawed timber
do
3 104
Boards, planks, scantlings, etc
do
4,338
Prices, wholesale, composite:
Boards, No. 2 and bettor, 1" x 6", R. L.
dol. per M bd. ft.. 78.199
Flooring, B and better, F. G., 1" x 4", S. L.
dol. per M bd. ft_. 151.839
Western pine:
Orders, new
mil. bd. ft
676
Orders, unfilled, end of month
.
do
439
Production
do
612
Shipments
do
619
Stocks, gross, mill, end of month . ..
do
1, 764
Price, wholesale, Ponderosa, boards, No. 3 common,
1" x8"
dol. per M bd. ft..
71.96
30, 088
14 055
16 033
46 802
25 572
21 230
31 815
17 636
14 179
42 792
20 463
22 329
40 033
17 644
22 389
26 233
15 715
10 518
21 887
10 357
11 530
30 472
15 214
15 258
21 503
11 861
9 642
30 933
17 247
12 986
20 477
9 378
11 099
83. 972
85. 534
85. 071
85. 624
87. 115
87. 535
88. 074
89. 173
89. 320
89. 180
131. 361
132. 178
132. 178
132. 178
132. 178
131.867
131.867
131.867
132.194
132.504
702
276
666
665
673
746
753
273
784
776
775
789
290
738
736
274
764
800
754
713
654
285
776
780
735
794
303
672
646
288
695
721
285
750
797
293
734
746
269
737
229
712
694
217
688
613
] 747
6,500
2 648
3 752
1 773
7 737
2 529
5' 208
781
405
958
447
1 783
8 399
2 151
6*248
743
398
265
133
1 717
7 367
1 654
5 713
670
757
550
207
1 658
6 222
1 772
4 450
1 638
f>' 674
1 915
4 759
1 656
5 545
2 138
3 407
1 731
Shipments, total
do
Hardwoods _
_
do
Softwoods
do
Stocks, gross (mill and concentration yards), end of
month, total
mil. bd ft
Hardwoods .. _
_ do
Softwoods
do
Exports, total sawmill products
Imports, total sawmill products _
.
SOFTWOODS
Douglas fir:
Orders, new
Orders, unfilled, end of month
Production
Shipments
__
Stocks, gross, mill, end of month
HARDWOOD
. M bd. ft
do
mil. bd. ft. _
do
do
do
„
do
]
9
2
6
3 438
1
8
1
6
779
930
967
963
1
7
2
5
1
6
1
5
712
r
87. 962
608
741
710
678
614
1 032
p 88. 094
132. 504 P 134. 174
601
78. 480
78. 471
77. 527
77. 256
77. 702
77. 174
77. 434
78. 922
80.155
80. 683
* 81. 474
P 80. 651
151.609
150.996
150. 996
150.384
149.426
149. 426
149. 426
151.263
151.018
149. 916
149. 916
149. 916
597
485
491
551
1, 703
598
696
766
742
860
543
682
716
603
513
770
772
514
8SO
859
826
628
493
633
680
850
702
477
535
590
747
453
959
909
367
638
616
1, 601
418
592
577
1 567
1 565
1 586
1 596
1 646
454
872
S25
380
846
775
1 648
511
760
750
1 693
1 764
72.26
74.18
75. 17
77.20
78.49
80. 05
80.41
80. 76
80.74
80. 13
3 950
11 700
4 450
3 950
11,050
4 850
12 550
4 000
11,050
4 625
13' 425
3 525
3' 625
10 900
(35()
125
750
000
550
4 5 50
1 5' 300
3 650
4 450
9 800
5 250
15 550
4 300
4* 950
g 300
89 816
65 157
97 834
88 960
57. 375
116 741
87 013
93 476
94* 885
52. 966
107 966
98* 574
90 400
91 321
52*. 045
r
1 786
1 801
79. 36
P 79. 36
FLOORING
Maple, beech, and birch:
Orders, new
Orders, unfilled, end of month
.
Production
Shipments
_ ___
__
Stocks, mill, end of month
__ ..
Oak:
Orders, new
Orders, unfilled, end of month
Production
Shipments
Stocks, mill, end of month _
___
r
M bd ft
do
do
do
_ . do
do
do
do
do
do
Revised.
v Preliminary.
^Revisions for 1954 appear in the December 1955 SURVEY.
4' ooo
5
14
3
4
10
500
050
900
000
775
111 554
108 122
106 193
107' 090
so! 301
4
15
3
4
10
108 916
111 682
100 543
104 160
44. 633
98
104
105
105
4ft
351
696
896
337
400
103
100
111
111
44
623
159
772
732
154
4
15
3
4
8
975
600
950
600
600
5
1.5*
4
5*
8*
550
475
850
425
000
4
14
4
4
7
250
350
100
775
525
3
12
'•*
4
7
450
000
875
225
300
3
11
3
3
7
850
750
900
900
200
4
12
4
•3
7
98
100
99
100
42
538
226
328
294
188
105
99
109
108
44
632
403
306
070
494
99
91
105
105
084
074
238
810
87
85
10°
100
44
858
704
070
684
344
78
72
102
95
741
123
317
049
61 168
93 665
S2? 732
49 Q58
si ai9
300
()')()
100
800
500
<i9 .54.5
Janu-
ary
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
February 1956
1955
December
January
February
March
April
May
June
1956
October Novem- 1 DecemAugust September
ber
ber
July
January
LUMBER AND MANUFACTURES—Continued
PLYWOOD
Hardwood (except container and packaging) :
Shipments (market) , quarterly total
M sq. ft., surface measure-- 203, 556
29, 096
Inventories (for sale), end of quarter
do
Softwood (Douglas fir only), production
392,
810
M sq ft , %" equivalent-
211,577
31, 157
393, 101
'
389, 408
444, 081
220, 908
33, 847
412, 756
418, 950
215, 326
32, 858
416, 207
321,111
414,569
422, 532
427, 948
423 235
672, 163
328, 060
184,286
27, 120 !
767, 919
414, 678
169,872
25 887
837, 373
442, 674
172, 396
17, 083
782, 285
419, 495
160,518
15 508
413, 501
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfrs.) :
Exports, total
- _ _ short tons - 667, 541
400, 707
Scrap
do
128, 106
Imports, total
_
do ..
27, 695
Scrap
do
801,766 815, 901
413,481 450, 418
116,948 139, 166
9 836
13 302 i
844, 999
512, 579
132, 644
13 041
827, 315
448, 402
103. 978
11 777
7, 068
3, 905
3, 163
6 988
7,243
7,199
3, 947
3, 252
7 186
7 259
6, 773
3,844
2, 929
6 852
7, 184
6 048
3, 457
2,591
6 101
7,132
6, 850
3,829
3,021
6, 623
7,357
6,786
3,921
2, 865
6 788
7, 355
7,248
4,002
3, 245
7 217
7,385
7,213
3 969
3,244
7 214
7, 385
3 227
1, 835
10 109
6 056
5, 312
11 366
11 820
12, 621
10 532
13, 704
14, 835
9 402
13, 034
14.633
7, 803
14, 160
15,117
6, 846
13.830
14, 544
6, 130
12 846
13,696
5 279
7, 266
9, 268
3, 277
0
631, 371
368, 280
104,291
11 124
660, 518
359, 187
112,934
24 923
778, 290
421,004
109, 723
11 524
6, 185
3,290
2, 896
5 685
7 349
6, 004
3,384
2 619
6 066
7 284
5, 874
3.294
2 580
5 993
7 156
7,072
3,909
3 162
7 071
7 158
2 907
1, 896
6 737
2 787
1 587
8 023
2 741
1, 531
9 227
Iron and Steel Scrap
Production and receipts total
thous. of short
Home scrap produced
_ _ _
Purchased scrap received (net)
Consumption total
Stocks consumers' end of month
tons
do - do
do
do
Ore
Iron ore:
All districts:
Mine production
thous of long tons
Shipments
do
Stocks at mines end of month
do
Lake Superior district:
Shipments from upper lake ports
do
Consumption bv furnaces
_ _ _
do
Stocks end of month total
do
A t furnaces
_
do
On Lake Erie docks
do
Imports
"Manganese ore imports (manganese content)
do __
do
18
0
6, 341
44, 018
37, 427
6, 591
6, 620
37, 470
31, 360
6, 110
6,447
31, 108
25, 222
5, 886
7,481
23,711
18,616
5, 095
3, 758
7, 290
18, 907
14, 545
4,362
11,606
7,798
21, 901
17, 465
4, 436
12, 595
7,473
27, 361
22, 455
4, 906
13, 334
7. 273
33. 424
27 940
5, 485
13, 572
7, 485
39. 500
33. 100
6, 405
12,757
7, 539
45, 406
38, 459
6,948
12, 244
7, 850
49, 523
42, 167
7. 356
7,410
7,488
51, 040
43, 718
7, 323
1.178
1,081
931
67
1, 248
1,220
2, 045
2,490
2, 498
60
2, 871
2,518
2, 857
2, 237
72
982
1, 296
1 050
1, 070
1,151
1, 253
1,113
1, 310
r 1, 306
579
1,160
1,226
716
59
0
66
87
81
86
98
90
75
p 7, 102
p 4, 034
v 3, 068
P 7 27'?
p 7 243
184
7,
44,
37,
6,
663
359
539
820
64
Pi<r Iron and Iron Manufactures
Castings, gray iron:
Orders unfilled for sale
Shipments total
thous of short tons
do
Castings, malleable iron:
Orders unfilled for sale
short tons
Shipments, total
do
Eor 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 Northern
do
783
966
934
1,315
1,294
578
689
680
707
99 817
82, 028
48, 000
101 766
85, 979
48, 721
99 730
102, 364
60, 063
104, 091
101, 226
57, 397
106, 446
98, 397
57, 317
107, 559
99, 456
60, 261
115,420
75, 570
44. 914
123, 473
82, 448
48, 126
116. 636
87, 215
55, 471
121,261
90, 866
53, 804
5, 587
5, 576
5,785
5,827
5,443
5, 560
6, 464
6,531
6, 385
6,412
6,805
6, 770
6,544
6, 4(58
6,391
6, 082
6, 601
6,462
6,703
6,612
6, 965
6,937
6,699
r 6, 690
6, 954
p 6, 833
2 536
2 447
2 384
2 213
2 097
2 084
2, 116
2,332
2,471
2,483
2 421
r 2 361
p 2 295
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
56.00
56. 50
57. 88
58. 50
59.00
58. 45
58.50
59. 00
58. 45
58.50
59. 00
58.45
58.50
59.00
58.45
58.50
59.00
58. 45
p 58. 50
p 59. 00
93, 547
69, 843
11,489
98, 238
75, 044
13, 809
106, 430
80, 729
16, 501
127, 460
98, 926
19, 339
120,053
92, 237
16, 646
122, 465
92,713
16, 810
133,887
102, 457
19, 591
97, 875
71, 170
11,631
126, 406
96, 290
20, 576
140, 843
107, 622
23, 594
472.7
128. 5
96.4
32 0
487.8
135. 9
103. 0
33 0
491.9
135.4
102.1
33 3
507.1
154.4
119.2
35 2
499.4
149. 6
113. 5
36 2
509.4
147.0
109.4
37.7
519.6
155.5
117.0
38.4
513. 3
115.0
82.7
32.3
547.0
134.8
99.9
34.9
552.4
148.8
110.1
38.6
559.7
158.0
120.0
38.0
8,287
8, 838
8,497
9,982
9, 815
10, 328
9,746
9,101
9, 595
9,882
10, 501
1,092
564
563
85 064
80, 599
49, 005
938
1,062
852
1,106
745
1,074
1, 310
688
713
714
697
p 1,272
116,981
99, 280 plOO,011
58, 069
Steel, Crude and Semimanufactures
Steel castings:
Shipments total
For sale total
Railway specialties
Steel forgings (for sale):
Orders, unfilled
Shipments, total
Drop and upset
short tons
do
do
thous. of short tons..
do
do
Steel ingots and steel for castings:
Production
do
Percent of capacity^
Prices, wholesale:
Composite finished steel
dol per Ib
Steel billets, rerolling, carbon, f. o. b. mill
dol. per short ton-Structural shapes (carbon) f o b mill dol per Ib
Steel scrap, No. 1, heavy melting (Pittsburgh)
dol per long ton
79
83
88
93
95
97
1
94
85
90
96
145,674 r 152, 381 pl66, 102
110, 409 116, 908
23, 745
25, 635
584.7
158.1 " P 158. 1
119.7
38.4
10, 247
r 10, 504
10,811
98
99
99
99
r
.0542
.0542
.0542
.0542
. 0542
. 0542
. 0542
. 0576
. 0580
. 0580
.0582
.0582
. 0581
74. 00
0452
74. 00
0452
74. 00
. 0452
74. 00
.0452
74. 00
. 0452
74. 00
. 0452
74. 00
. 0452
78.50
.0487
78. 50
. 0487
78. 50
.0487
78.50
.0487
78.50
.0487
p 78. 50
p . 0487
32.50
36.50
36.50
38.50
38. 50
34.50
34.50
39.50
44.50
43.50
44.50
45.50
p 50. 00
2,217
1,797
2,198
1,742
2,145
1,747
2, 303 !
2,125
2, 342
1,990
2,123
2,062
2,377
2 514
2, 317
2, 078
1, 953
2,230
109
1,910
2,075
1,741
2,042
138
1,840
2, 185
90
116
1,871
2,032
77
283, 386
170, 125
113,261
247, 688
279, 642
170,068
109, 574
240, 159
397, 799
230, 016
167,783
347,471
427, 434
266. 148
161. 286
386, 053
565, 220
392, 145
173, 075
511, 684
511, 429
355, 914
155,515
443, 363
501, 455
343, 966
157, 489
445, 349
Steel, Manufactured Products
Barrels and drums, steel, heavy types (for sale) :
Orders unfilled end of month
thousands
Shipments
do
Stocks end of month
do
Cans, metal, shipments (in terms of steel consumed),
total for sale and own use
short tons
Food
do
Nonfood
do
Shipments for sale.- do
89
104
259, 585
154, 507
105, 078
224, 128
307, 939
171,568
136, 371
265, 592
106
321, 281
178, 528
142,753
273, 649
107
379, 767
222, 797
156,970
330, 050 !
125
114
124
r 252, 716
'150,311
' 102, 405
r 212, 971
147
270, 693
156, 504
114, 189
230, 573
' Revised.
f Preliminary.
t For 1956, percent of capacity is calculated on annual capacity as of January 1,1956, of 128,363,090 tons of steel; for 1955, data are based on capacity as of January 1,1955 (125,828,310); December 1954. on capacity as of January 1, 1954 (124,330,410 tons).
SURVEY OF CURRENT BUSINESS
February 1956
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1956
1955
1954
December
S-33
January
February
March
April
May
June
July
DecemAugust SeptemOctober November
ber
ber
January
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Steel, Manufactured Products — Continued
Closures (for glass containers), production
millions
Crowns, production. __ _
__ ._ thousand gross. _
Steel products, net shipments:
Total 9
. thous. of short tons Bars: Hot rolled, all grades
_ _ _ do -_Reinforcing
_
- - do
Semimanufactures
do
Pipe and tubes
do
Plates
do
Rails
_
do
Sheets
__
___ _. do _ .
Strip* Cold rolled
do
Hot rolled - __
_. do _ _
Structural shapes, heavy
do
Tin plate and terneplate
do
Wire and wire products.
.. do
1,218
18, 196
1,247
23, 663
1, 245
23, 993
1,516
29, 480
1,389
27, 982
1,404
30, 691
1 532
33, 640
1, 251
28,319
1,544
31, 251
1,454
26, 662
1 492
26, 079
5,449
619
123
200
497
421
40
2, 054
128
160
347
270
352
6,010
6,120
7, 269
7,279
747
184
303
824
560
118
2, 416
141
182
398
534
508
7,541
7,770
770
209
325
967
600
127
2.428
152
198
378
651
542
6, 251
7, 054
7,217
2,108
2, 307
7,378
739
186
289
873
619
95
2,394
148
172
426
588
469
623
116
203
578
439
97
2,229
133
158
336
419
393
630
128
255
610
457
103
2, 166
131
159
338
433
415
764
161
310
795
543
122
2, 450
153
178
407
514
502
774
215
290
872
571
121
2,439
148
193
414
607
515
627
177
264
824
506
104
109
145
357
368
363
717
197
283
885
543
88
137
162
378
553
455
814
202
276
877
607
86
2,452
159
177
420
310
469
r
1, 413
26, 338
1 347
23, 192
7,248
758
194
314
884
639
74
2,499
161
183
436
300
439
7,581
834
194
312
885
678
98
2 641
163
183
449
328
426
NONFERROUS METALS AND PRODUCTS*
Aluminum:
Production, primary, domestic
short tons.. 127, 035 128. 203 116,236 130, 272 126, 394 131, 128 127, 634 132, 669 133, 551 r130, 606 134, 655 133, 689 140, 748
27, 609
29, 919
29, 491
27, 091
28, 923
30, 925
23, 687
Estimated recovery from scrap©
do
28, 521
33, 933
31 785
30, 681
Imports (general):
13, 519
18,409
15, 674
12, 593
17, 621
20, 174
12, 957
12, 753
10, 235
14, 416
20, 391
12 183
Metal and alloys crude
do
888
1,172
1,065
1, 170
895
1,546
1. 467
2. 126
1,702
2, 689
2,216
2,038
Plates, sheets, etc
do
.2220
. 2303
.2427
.2440
. 2440
. 2320
. 2320
. 2320
.2320
. 2320
. 2320
.2440
.2440
Price, primary ingot, 99%-fdol. per l b _ _
. 2440
Aluminum shipments:
r 353 2
298.1
289.7
342.4
341. 7
303. 9
324. 3
347.9
355. 6
301. 6
357.0
344.4
Mill products and pig and ingot (net)
mil. of lb__
343. 1
195. 6
206. 2
227.9
234. 3
210. 2
205. 2
234. 7
250.0
244. 1
255. 7
Mill products, total cf ___ _
do. _.
243. 0
248.8 * 245'. 5
108. 7
141.4
125. 2
123. 3
128.4
137. 1
134. 5
113.3
114.0
112.0
136. 4
138.3
Plate and sheet cf
do
138.6
64.0
64.4
66.9
75. 1
71.7
55.0
64.9
67.1
68.5
73.0
79.0
72. 2
Castings
.__
do
Copper:
Production:
r
91,053
r 81, 613
83, 300 r 83, 492 ' 93, 769 >• 89, 154 r 90, 824 «• 89, 392 r 33, 343 r 67, 235 «• 90, 271 r 92, 192
Mine, recoverable copper
short tons
88 575
119,264 117, 153 111,015 120,611 111,348 127, 124 117, 639
78, 905 129 791 127 537 123,095 135 675
42, 566
Refinery, primary
do
86, 809
88, 3.12
55, 824
96, 549
89, 444
85, 118
81,021
94, 876
21, 294
94 218
94, 260
99 349
97, 234
From domestic ores
_
do
32, 455
28. 195
28, 841
23, 081
21, 272
29, 994
28, 219
26, 230
26, 351
33.319
30, 575
32, 557
From foreign ores
.__ __
do
36, 326
«r!6,172 T 15,834 r 15, 028 r 19, 383 r 18, 858 ' 18, 827 r 20, 015 r 12, 557 ' 15, 201 T 21, 328 r 22, 665 r 22, 071
Secondary, recovered as refined
do
21 073
Imports (general):
49, 369
46, 581
54, 753
46, 755
52,154
44, 041
39, 307
63, 706
45, 858
44, 619
57, 130
45, 339
Refined, unref., scrap © _.
_-do
12, 643
11,153
14, 449
12, 283
15, 935
12, 104
27, 345
20, 784
23, 770
10, 150
11,120
20, 876
Refined
do
Exports:
30, 119
19, 322
13, 790
26, 929
15, 372
28, 753
28, 575
37, 375
19, 341
22, 294
25, 673
20, 293
Refined, scrap, brass and bronze ingots
do
9, 544
17, 760
16,434
15,702
19, 202
15, 883
24, 890
17, 811
10, 521
20, 658
15, 719
18,615
Refined
__ _
do
71, 233
Consumption, refined (by mills, etc.)_._ _ _ do ._ 127, 323 126, 308 119, 609 137, 361 133, 130 135, 513 141, 044
90, 493 126, 772 150,780 r 148, 449 pl56 159
Stocks, refined, end of month, total
_. _ d o _ _ _ _ 131, 174 121,835 120, 643 117, 786 111, 375 121,024 112, 187 101, 860 122, 682 153, 738 151,238 r 156, 801 "158, 320
92, 558
81,807
75, 668 102 742 106 185 112, 897 P108 762
75, 1 58 67, 334
71,086
77, 683
73 632
78 865
Fabricators'
do
.2970
.4296
.3815
.2978
. 4405
Price, bars, electrolytic (N. Y.)
dol. per l b _ _
.3294
.4303
. 3570
.3570
.3570
.3270
.3570
.4348
.4375
Copper-base mill and foundry products, shipments
(quarterly) :
551
666
Brass mill products, total
mil oflb
677
521
P661
359
p411
401
392
345
Copper wire mill products ©
do
P
219
258
234
238
Brass and bronze foundry products
do
263
Lead:
Production:
28, 230
28, 602
27, 347
27, 004
28, 442
25, 846
26 976
26, 666
28, 807
30, 961
26, 710
Mine, recoverable lead
short tons
34, 718
35, 007
35, 947
32, 742
36, 876
34, 765
29, 836
31, 147
38, 976
40, 980
36, 290
Secondary, estimated recoverable ©
do
36, 479
31,407
21,107
33, 286
33, 633
38 999
34, 023
32, 640
40, 735
48, 597
30, 214
40, 794
Imports (general), ore©, metal
do
40 335
91,000
93, 000
86, 000
96, 100 100, 400 102, 900
83, 800 106, 600 111, 500 114, 700 108, 100
Consumption, fabricators', total do 99, 000
Stocks, end of month:
Producers', ore, base bullion, and in process ©
109, 131 107,314 114,481 108, 513 106, 023 107, 257 106, 409 103, 636 125. 644 1 22. 352 124 811 116,204
(ABMS)
short tons
89,611
52, 804
81, 858
62, 599
32 767
29 384
48, 988
42, 843
62 398
38, 198
26 147
24, 146
Refiners' (primary) ref and antimonial © do
122, 198 113,364 120, 142 112, 742 112,170 124, 145 123,686 118,583 116,683 115, 104 110,247 109, 525
Consumers' total
do
59, 104
61, 857
56, 361
50, 762
53, 412
49, 046
45, 771
50, 053
50, 939
52, 872
46, 413
53, 209
Scrap (lead-base, purchased), all consumers -do
.1500
".1615
. 1500
1510
.1500
.1500
. 1500
. 1500
1550
. 1500
.1500
.1500
1550
Price pig desilverized (N. Y )
dol per Ib
1556
Tin:
2, 692
2,608
1,842
1.147
Production, pig, total _
long tons
2,728
2,582
2 092
2 036
1, 986
1,106
2,298
2, 003
Imports for consumption:
2, 019
1, 857
1,312
2,180
1,861
1, 163
1,443
819
2, 116
2,437
1, 769
1,966
Ore ©
_
- do
5,924
5,615
5.449
5, 598
4,143
6, 385
6,026
5, 520
5, 454
3, 918
5, ()] 0
Bars, pigs, etc^
_
_ _ _ _ do
6, 900
6,900
7,280
7,825
7, 985
7, 785
6, 640
7,820
8, 050
7, 810
7, 965
7, 960
Consumption, pig, total
- __
do
4, 330
5,310
5 015
5, 305
5, 160
4, 520
4, 500
4,730
5,160
5 200
5, 010
5, 330
Primary
do
45
9
4
122
175
185
174
91
20
48
83
177
71
Exports incl reexport (metal)
do
14, 751
16, 331
15,616
13, 675
16, 362
13, 513
14, 761
14, 944
17, 161
16, 348
16, 509
17,448
Stocks pig, end of month, total
do
14, 979
16, 965
15, 685
14, 550
13, 644
15, 580
12, 835
14, 100
13, 905
16,115
13, 970
17, 267
Industry,
. _ _._
_ ___ _ _ _ d o
. 8857
. 9646
. 9626
.9364
. 9139
1.0482
.9787
. 9609
.9137
. 9683
.8727
.9077
.9104
1. 0776
Price, pig, Straits (N. Y.), prompt
dol. per l b _ .
Sine:
39, 555
41, 817
41, 205
39, 389
42, 323
41,787
44, 273
43, 477
42, 886
45, 216
41,338
Mine production, recoverable zinc
short tons.. 39, 035
Imports (general) :
40,811
41, 600
57,410
34,134
38, 949
35, 802
39, 076
29, 832
35, 191
45, 944
41, 262
42, 700
Ores and concentrates ©
do
18, 094
22, 031
14, 730
14, 697
15,828
16, 538
18,111
13, 048
13,166
15, 696
13, 257
20, 627
Metal (slab blocks)
do
Slab zinc:
Production (primary smelter), from domestic and
79, 555
79, 001
80 602
460
78, 836
78, 399
foreign ores
short tons
80, 139
73, 785
83 395
77, 087 r82,
78, 917
81, 173
r
5,609
5,004
5,192
6, 038
6, 361
5,483
5, 457
5,937
5,784
6, 989
5, 387
Secondary (redistilled) production, total
do
7.014
91,849
92 739
94 913
91 312
Consumption, fabricators', total
do
81, 742
85 119
80 602
97 940
87 687
70 589
96 388
98. 275
1,518
1,550
Exports
_ _ _ _ _ __ __ _
do
151
589
973
756
413
4,428
1,918
760
3,053
2,618
Stocks, end of monthProducers', smelter (AZI)_ _ _ . ___ . _ _ do_
124, 277 117,152
74, 579
46, 084
42, 167
48, 603
96, 165
43, 868
63, 184
51, 290
90, 837
38, 058
40 979
100, 757
Consumers'
do
97 013 101 734 102 438 103 304 104 003 106 983 114,115 120 943 120, 262 115 681 117 879
Price, prime Western (St. Louis)
dol. per l b _ _
.1150
.1300
. 1250
.1293
.1150
.1300
.1250
.1193
.1223
.1150
.1150
. 1343
.1300
.1200
Zinc oxide (zinc content of ore consumed)
7.175
7.062
6.148
6.725
short tons ._
6.774
8. 065
8.140
6.237
6.563
7.021
6. 610
6.376
r
Revised.
*» Preliminary.
9 Includes data not shown separately.
©Basic metal content.
cf Data beginning January 1955 are not strictly comparable with earlier data because of a change in coverage and method of reporting.
*New (or substituted) series in most cases. All series (except as noted) are compiled by the 17. S. Department of Interior, Bureau of Mines; data prior to August 1954 for new series will bo
hown later. General imports comprise imports for immediate consumption plus material entering the country under bond. Aluminum—prices of aluminum ingot are as quoted by the
American Metal Market; shipments of mill products plus pig and ingot are compiled jointly bv the U. S. Department of Commerce, BDSA and Bureau oj the Census. Copper—exports, consumpion, and stocks of copper and shipments of mill and foundry products are compiled by BDSA. Lead—producers' stocks of lead ore and bullion are compiled by the American Bureau of Metal
Statistics: stocks of scrap lead are in gross weight. Tin—total stocks include Government stocks available for industry use. Zinc—primary smelter production of slab zinc is derived by subracting secondary (redistilled) production at primary and secondary smelters (compiled by Bureau of Mines) from total smelter production (compiled by American Zinc Institute).
« Revisions for August-November 1954 (short tons): 15,638; 16,076; 17,192; 15,557.
SURVEY OF CURRENT BUSINESS
S-34
1954
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
December
February 1956
1955
January
February
March
April
June
May
1956
July
August
Septem- October Novem- December
ber
ber
January
METALS AND MANUFACTURES—Continued
HEATING APPARATUS, EXCEPT ELECTRIC
Radiators and convectors, cast iron:
Shipments
thous. of sq. ft. of radiation. .
Stocks, end of month
do
Oil burners:
Shipments _
number .
Stocks, end of month
__ _
_ do_ _.
Stoves and ranges, domestic cooking, excl. electric:
Shipments, total _
number- _
Coal and wood
do
Gas (incl. bungalow and combination)
do _ .
Kerosene, gasoline, and fuel oil .. --- _ . . do_ _ _
1,956
5, 434
1, 675
5, 876
1, 970
6, 106
2,419
6,416
2, 035
6,991
1,732
7 898
2,208
7 903
1,865
7 520
3,615
6 378
3,326
5 845
3,115
5 234
2,779
4 666
46, 882
57,125
57, 282
50. 686
58, 041
51, 163
59, 218
62, 655
60,155
71,864
65, 407
69, 732
68 600
68, 141
70, 945
65, 462
100, 826
59, 572
107 972
50, 174
94 689
49 268
63 186
55 828
160, 494
5,586
146,135
8,773
167, 752
5, 564
153, 065
9,123
200, 306
5, 527
186, 436
8, 343
232, 431
6,063
217, 466
8,902
196, 705
4 283
182, 502
9,920
199, 682
4 107
187, 735
7, 840
216, 879
4 817
204 170
7,892
156, 745
5 367
145 951
5, 427
238,014
6 460
219, 083
12, 471
238, 214
7 752
218, 280
12, 182
227. 506
834
633
12, 039
198 852
7 053
183 531
8,268
Stoves, domestic heating, shipments, total.
do _ _ _ 110, 245
9,094
Coal and wood
- ._ . _ do. .,
74, 51 3
Gas
do
26, 638
Kerosene, gasoline, and fuel oil
do
75, 004
4,824
41, 646
28, 534
90, 897
4,422
38, 228
48, 247
105,357
7,710
50 350
47, 297
98, 307
8,624
50 311
39, 372
122,722
10, 624
74 605
37, 493
186, 201
15, 589
116 854
53 758
233, 198
26 304
142 723
64 171
311,164
45, 107
185 481
80, 576
353,820 r 399, 454 303, 546
56 196 r 65 947
47 447
214 388 r251 629 212 565
83 236
43 534
81 878
Warm-air furnaces (forced-air and gravity air-flow),
shipments, total
__. _ _ _ . .number _ 81,130
Gas
do - . 50, 341
28, 055
Oil
do
2, 734
Solid fuel
_ do . .
163, 458
Water heaters, gas, shipments
do
85, 476
50, 923
31, 899
2, 654
200, 001
79, 537
47, 740
28 917
2,880
214 703
87, 121
53, 673
30 510
2,938
248 754
91,908
58,012
31 484
2,412
231 694
99, 937
62, 696
34 284
2 957
216 731
117,376
74, 125
39 657
3 594
214 607
107, 905
64, 563
38 902
4 440
207 226
163, 741
99, 558
57 792
6,391
260 438
164, 154
101, 828
54 105
8 221
224 027
T
r
6
r
208
T
150, 331
94, 368
47 660
8*303
218 521
120 948
77, 427
37 202
6 319
184 761
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly totals:
Blowers and fans, new orders...
thous. of dol._
Unit heater group, new orders
_ _ do
Foundry equipment (new), new orders, net
mo. avg. shipments, 1947-49=100-.
Furnaces, industrial, new orders, net:
Electric processing
thous. of dol _
Fuel-fired (except for hot rolling steel)
do
55,813
14 648
39, 739
16,087
53, 013
16 497
58 170
18 228
113.9
81.0
90.4
163.6
178.6
145.7
186.8
213.4
134.0
156.7
108 6
154 4
1,246
4,100
1,148
3, 543
976
4,390
1,342
5 609
2, 234
5 032
1,813
3 801
2, 635
2 836
786
2 981
1,348
4 101
964
6 579
1, 532
7 061
1, 543
4 131
2,188
8 191
203 0
167 3
209 4
168 2
214 6
202 5
178 1
180 1
243 7
180 9
263 2
198 8
217 8
152 9
221 3
164 6
207 3
195 4
347 1
204 9
r 433 3
T 214 2
P 530 8
P 237 l
Machine tools (metal-cutting types) :
202 9
New orders
mo av? shipments 1945—47 = 100
203 4
Shipments
do
Pumps (steam, power, centrifugal and rotary), new
4,787
orders
thous o f d r l
Tractors (except contractors' off-highway and garden) :
Shipments total
thous oi dol °157,655
0
87, 71 6
Wheel-type
do
Tracklaving
do. _ « 69, 939
5 220
6 709
6 161
5 447
6 411
7 419
5 834
7 022
5 664
7 048
5 249
7 624
66 178
41,431
24, 747
71,786
45, 807
25, 979
79 302
54, 025
25, 277
94 718
64, 847
29, 871
82 289
51 016
31,273
79 179
47 911
31, 268
63 360
38 613
24, 747
52 359
*>$ 308
23, 051
59 140
29 736
29, 404
81 728
42 589
39, 139
67 355
33 ?88
34, 067
77 fill
39* 321
38, 290
1,796
1,478
1,647
1,321
1,281
1,572
1 794
2 024
2 777
3 039
3 036
T 2 626
2 555
125
131
133
141
152
158
163
161
160
166
162
146
217.0
264. 8
1,261 6
250. 1
357.4
1,068 1
262.7
353. 2
1 089 7
358.2
370. 6
1,482 3
244.1
313. 5
1 099 8
261.2
341.8
1 ll-i 0
241.7
354. 5
1 204 9
207.8
245 9
718 5
255. 5
308. 3
403 8
414. 9
947 6 il 302 4
350. 7
362 3
1 500 2
307.5
361 3
1 580 8
i 833. 4
654. 6
702.5
i 831. 2
583.2
467.4
i 590. 0
344. 3
647. 9
i 939. 5
759. 7
631. 7
138. 3
1 32. 0
137.0
1 60. 0
160.0
154.0
158. 0
117.0
147.0
156. 0
156. 0
155.0
10, 535
9,426
10,076
12,211
11, 106
10, 909
11, 522
9, 856
11,057
12, 827
12, 399
11,668
3,794
1,540
25,911
4,037
1,571
24, 049
3,918
1,565
25, 898
4,876
1.803
29 762
4,591
1,815
30 521
4,778
1,799
32 504
4,679
1,750
35 310
3, 136
1,367
53 017
4,505
1,817
31 611
3,818
1,639
29 682
4 607
1,914
32 216
4,409
1,776
29 522
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), shipments
thousands
Household electrical appliances:
Refrigeration, output (seas, adj.)* 1947-49=100..
Vacuum cleaners (standard type), sales billed
thousands..
Washers, domestic sales billed
do
Radio sets production§
do
Television sets (incl. combination), production!
thousands..
Insulating materials arid related products:
Insulating materials, sales billed, index
1947-49=100.Fiber products:
Laminated fiber products, shipments ©
thous. of dol. Vulcanized fiber:
Consumption of fiber paper .
-thous. of Ib
Shipments of vulcanized products thous. of dol ..
Steel conduit (rigid), shipments
thous. of ft
Motors and generators, quarterly:
New orders, index
1947-49=100
Polyphase induction motors, 1-200 hp:J
New orders
_
thous. of dol- .
Billings
do
Direct current motors and generators, 1-200 hp:l
New orders
thous. of dol
Billings
do
1
1
1
156. 7
155.0
186 0
208 0
34, 476
36, 184
38, 649
34 638
44, 407
41 298
49 969
40 578
8,130
9,942
6,729
9 052
10, 545
8 179
9 950
7 220
243. 5
357 5
r 1 ] 78fi 3
r
i 604. 6
f>l 125
p590.
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
2,816
Production. - _.
_ . _ .. thous. of short tons 2, 333
1, 640
2,442
1, 910
2,024
1, 755
2,333
1,888
1, 812
2,127
2,383
2,4<
«• 2, 268
Stocks in producers' storage yards, end of month
1,164
1,293
1, 145
1,267
966
thous. of short tons._
1,132
1,081
1,000
942
1,008
1,048
720
886
348
311
253
242
Exports
-..
.
do --_
148
176
226
207
302
418
331
17.
Prices:
25.67
25. 67
25. 64
25.40
25. 52
25. 96
Retail, composite
dol. per short ton24.08
24.18
24.48
24.63
25.18
24.50
25.51
11-829
13. 657
13. 721
13. 721
11.829
12. 257
12. 524
Wholesale, chestnut, f. o. b. car at mine
do
13. 721
13. 721
12.257
13. 261
13. 324 v 13. 643
r
l
Revised.
*> Preliminary.
Represents 5 weeks' production.
° Quarterly total.
*New series. Compiled by the Board of Governors of the Federal Reserve System. The seasonally adjusted index reflects changes in total output of refrigerators, freezers, room air cond
tioners, and dehumidifiers. Monthly data beginning 1947 will be shown later.
§ Radio production comprises home, portable battery, automobile, and clock models; television sets include combination models. Data for December 1954 and March, June, Septembe
and December 1955 cover 5 weeks; other months, 4 weeks.
© Data beginnirg August 1955 cover 20 companies; earlier data, 19 companies.
t Data for polyphase induction motors cover 34 companies; for direct current motors and generators, 27 companies.
SURVEY OF CURRENT BUSINESS
February 1956
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
S-35
1955
January
February
March
April
May
June
1956
July
August
Septem- October Novem- December
ber
ber
January
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL- Continued
Bituminous:
Production . . _ . . _ _
_ thous. of short tons- 38, 151
Industrial consumption and retail deliveries, totalj
thous. of short tons r 35, 529
Industrial consumption, totalj
do
r 29, 742
Electric-power utilities . _ _
do _ ' 11, 642
Coke ovens
do
7 995
Beehive coke ovens
_ _
_____
do
66
Steel and rolling mills
do
506
Cement mills
__
do
775
Other industrials
do
7 194
36, 580
35 545
37 060
34 620
38, 620
36 320
36, 470
43, 000
40, 740
36, 334
30, 101
11,750
8 258
99
506
755
7 316
33 769
27, 916
10 840
7 631
'l05
504
670
6 892
35 105
30, 243
11 234
8 755
169
511
707
7 578
31, 207
28, 368
9 906
8 519
196
417
672
7 411
31, 478
29, 123 1
10. 505
8 927
31 356
28, 716
10 808
8 593
31, 441
29, 083
11, 464
8 621
34, 231
30, 831
12 290
8 886
34, 850
30, 539
11 783
8 858
*244
365
687
238
342
707
276
357
710
268
364
703
222
387
714
r
43, 550
45, 270
40, 581
r 34, 387
13, 026
r
9 020
45, 430
37, 533
14 482
9 431
315
486
768
373
575
871
8 339
9 281
10 265
1 351
1 486
60
1 435
T
56
4 820
6, 194
7 897
«• 70, 325
68, 431
67 433
38 228
13 350
41 650
37 533
32, 713
12 382
9 151
291
407
732
r
r
7 093
6 887
6 508
7 003
7 283
do
do
1 544
20
1 415
2
1 271
3
1 278
11
1 203
44
1 240
1 159
1 154
1 253
1 228
43
49
56
52
do
5,787
6,233
5 853
4,862
2 839
2, 355
2 640
2, 358
3,400
4 311
69, 201
68, 391
39 711
12, 335
606
1,311
12 953
1,475
65, 869
65, 166
38 095
11, 476
556
1, 155
12 487
1 397
63, 751
63 130
36 796
11 066
509
1 082
12 337
1 340
63, 664
63 022
37 035
10 776
505
963
12 494
1 249
64, 001
63 270
37 376
10 702
534
970
12 469
1 219
66, 356
65, 471
38 347
69, 452
68 310
39 225
12' 747
68, 042
66, 845
38 405
12, 348
70, 988
69 701
39 288
13 674
71, 700
70 443
39 872
13 993
558
548
567
580
1 140
13 405
1, 166
13 258
1, 120
1 236
13 762
1 174
1 289
13 556
1 153
do. -
810
703
621
642
731
885
1 142
1, 197
1 287
1 257
1 231
1 114
Exports
-_ _
_
do_. _
Prices:
Retail, composite
dol. per short ton Wholesale:
Screenings, indust. use, f. o. b. car at mine-, do
Large domestic sizes, f. o. b. car at mine .-do
2 481
1 804
2 539
9 282
4 569
4 717
4 992
4 652
5 708
5 436
5 534
4 656
15 08
15 10
15 10
15 10
15 00
14 77
14 81
14 83
14 93
15.25
15 40
15.43
15 46
4.482
6.951
4.481
6. 951
4.481
6.949
4.480
6.920
4.401
6.369
4. 377
6.371
4.390
6.423
4.395
6.588
4. 430
4.706
6.738
4. 737
7. 104
f 4. 722
<• 7. 187
v 4 727
v 7. 199
43
5, 580
471
61
5. 745
457
64
5, 327
436
102
6,131
486
117
6,014
438
135
6,287
476
157
166
6,229
467
178
6. 234
6 452
*• 189
6, 357
479
145
6,039
483
163
6,001
6 640
2 942
1 624
1 317
421
50
2 748
1 654
1 094
449
29
2 614
1 632
981
474
43
2 526
] 579
946
476
39
2 485
1 529
956
498
29
2 346
1 373
2 188
1 227
2 112
1 198
1 975
1 291
914
437
57
2 064
1 250
961
440
44
13. 75
13.75
13. 75
13.75
13. 75
13.75
13. 75
2 743
198 213
88
224, 382
2, 486
209 600
90
228, 737
2 340
191 392
92
211, 365
2,738
213 454
90
228, 594
2,787
206 600
87
214, 080
2 594
206 983
2 798
198 389
258, 385
67 309
172, 081
18 995
260, 156
67 916
172, 635
19 605
258, 630
66 574
172,429
19 627
264, 430
68 829
176, 193
19 408
797
23 066
2.82
381
20, 799
2.82
976
20. 912
2.82
771
24, 480
2.82
Railroads (class I)
Bunker fuel (foreign trade)
Retail-dealer deliveries
_
Stocks, industrial and retail dealers', end of month,
total _
thous. of short tons. .
Industrial, total
_. __ _ _
do Electric-power utilities
do
Coke ovens
do
Steel and rolling mills
do
Cement mills
_
do
Other industrials
do
Railroads (class I)
- _- do_ _
Retail dealers
.
35
11,516
561
1,015
12 840
1,192
1*235
71
70
40
13
747
516
208
892
570
1 304
13 420
1 122
7.166
r 69, 211
r
39 720
13 604
r
527
1 342
12 923
1 095
v 44 750
50
576
1 270
12 922
1 087
998
COKE
Production-.
Beehive
thous. of short tons
Oven (byproduct)
.___do
Pntrnlnnm r-okp 9
dn
Stocks, end of month:
Oven-coke plants, total
do
At furnace plants
_ _
_ do- _
\ t merchant plants
do
Petroleum coke
_
._
- do
Exports
.
do. .
Price, beehive, Connellsville (furnace)
dol. per short ton._
973
473
42
417
814
402
39
684
361
45
13.75
13.65
2 661
205 600
2 834
206 604
473
1 7^2
l' 240
' 542
r
520
r i 748
1 319
r 429
330
48
307
58
13.63
13. 63
13.63
2 746
201 919
9 473
211 770
2 598
210 406
225
1 697
1 386
311
13. 88
PETROLEUM AND PRODUCTS
Crude petroleum:
Wells completed
number
Production
thous. of bbl
Refiner v 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
A t tank farms and in pipelines
do
On leases
do
Exports
Imports
. _ - ._ _ _ - - Price (Oklahoma-Kansas) at wells
do
_do-._dol. per bbl__
89
91
234, 986
234, 966
264, 601
69 399
175, 702
19 500
256, 427
65 920
93
225, 699
224, 510
275, 232
71 215
184,317
19 700
276, 948
71 293
185, 771
19 884
270, 850
70 788
1,431
20, 818
2.82
1,166
23, 106
2.82
1,053
24 739
2.82
181,076
18 986
Refined petroleum products:
Fuel oil:
Production:
Distillate fuel oil
thous, of bbl__ 51 718
47, 094
51, 719
52, 779
46, 033
53, 926
48 839
34 683
Residual fuel oil
do
36 722
38 276
33 288
34 426
32 3°2
36 806
Domestic demand:
Distillate fuel oil:
_ do
68, 513
58, 252
37, 177
75, 843
73, 801
31,726
29, 994
Residual fuel oil
do
51, 475
41,848
43, 668
54, 055
55, 880
40, 754
51.386
Consumption by type of consumer:
Electric-power plants
do
4 884
8 912
7 687
5 678
7 432
6 813
4 602
Railways (class I)
do
7 699
7 635
7 688
8 268
8 467
8 093
8' 337
Vessels (bunker oil)
_. _ do _5, 916
6, 708
6, 022
6, 379
6, 332
' Q, 362
5, 803
Stocks, end of month:
Distillate fuel oil
_
do
86 692
62 457
83 559 100 652
69 283
70 139
108 144
Residual fuel oil
do _ 52, 105
49, 457
46, 042
44, 970
43, 838
45, 083
44, 398
Exports:
Distillate fuel oil
. _ __
do
1 786
1 898
919
1 521
2 109
1 258
2 145
2 Q85
9 231
Residual fuel oil
do
2 819
2 256
1 720
2 535
2 380
Prices, wholesale:
Distillate (New York Harbor, No. 2 fuel)
.102
. 102
dol. per gal__
.102
.102
.102
.101
.101
Rosidual (Okla., No. a fuel)
dol. per bbl.. 1.400
1. 500
1.600
1. 500
1. 500
1. 500
1.700
Kerosene:
Production
thous. of bbl_. 11, 796
12, 665
11,080
9,164
10, 471
9, 373
8 084
Domestic demand.
... _
do
18 330
17 071
15 003
10 940
5 799
3 878
4 374
Stocks, end of month
do _
18 291
18 187
23 266
27, 826
26 375
21 486
29 830
9
Exports .
-.
do
96
109
326
179
15
300
' 291
Price, wholesale, bulk lots (New York Harbor)
.108
dol. per gal__
.110
.110
.110
.110
.110
.108
T
Revised.
» Preliminary.
tRevised (effective with the October 1955 SURVEY) to include bunker fuel.
9 Includes nonmarketable catalyst coke. Such production for January-November 1955 is as follows (thous. short tons):
93
91
93
224, 478
90
231 411
230, 758
256, 269
67 887
259, 201
67 823
171 247
20 131
260, 707
65 095
175, 427
20 185
171,285
168,344
19 222
20 038
872
25, 161
2.82
871
25 049
2.82
1,191
26 502
2.82
25 606
2 82
26 658
2. 82
48, 832
33 823
50, 237
33 794
48, 617
31 815
49 985
34 821
50, 393
36 412
28, 359
38. 919
33, 781
41,287
37, 290
37, 866
38, 848
42, 583
51,219
4 617
8* 185
7, 005
5 369
8 471
7, 332
5 183
8, 330
6,755
6 043
8 456
7. 061
7 096
8 688
f>', 455
119 169
44, 81*4
133 675
45, 480
143 248
46, 267
1^9 288
47, 040
141 808
44] 071
2 259
I 866
2 194
2 618
2 195
9 99f>
2 9W3
1 884
1 427
1 456
.101
1. 750
.101
1.750
.103
1.750
. 098
1.750
.098
1.750
8, 877
5 436
32 749
8 975
6 116
35' 292
9 566
9 087
36 705
10 229
13 473
33' 283
430
995
8 363
7 036
36 361
.108
.108
. 108
887
832
144
»2. 82
59, 776
93
93
. 103
.103
8 540
6,777
P. 103
P 1. 800
P. 108
198; 186; 184; 141; 204; 209; 204; 219; 189; 209; 231.
14.13
SURVEY OF CURRENT BUSINESS
S-36
Unless otherwise stated, statistics through 1954 and 1954
descriptive notes are shown in the 1955 edition of DecemBUSINESS STATISTICS
ber
February 1956
1955
January
February
March
April
May
July
August
Septem- October Novem- December
ber
ber
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Lubricants:
4, 544
Production
thous.ofbbl
Domestic demand
_ ._.
do
2, 961
9, 702
Stocks, refinery, end of month
_.do __.
Exports
do
1,296
Price, wholesale, bright stock (midcontinent,
f. o. b. Tulsa)
dol. per gaL.
. 180
Motor fuel:
Gasoline (including aviation):
111, 753
Production, total
thous. of bbl
98, 878
Gasoline and naphtha from crude oil
do
Natural-gas liquids:
Used at refineries (incl. benzol)
do ..- 10, 099
2,776
Used in other gasoline blends, etc
do
Domestic demand
Stocks, end of month:
Finished gasoline
At refineries
_.
Unfinished gasoline
Natural gasoline and allied products
4, 565
3,180
10, 162
892
3,992
2,901
10, 087
1, 094
4,602
3, 665
9,779
1,179
4,691
3, 589
9,615
1,211
4 740
3, 766
9,430
1,097
4,818
3, 750
9,233
1,208
4,557
3, 488
8,947
1,289
4 871
3,986
8,547
1,220
4 526
3,572
8,291
1, 143
4,666
3,720
8,108
1,060
5 115
3,713
8,433
1,024
.180
.180
.180
.180
.180
.180
.180
.180
.190
.190
.200
112,808
99, 419
102, 342
90, 424
109, 838
97, 207
105, 069
92, 793
111, 759
99,016
111, 759
99, 291
118, 548
105, £82
119 601
106,311
113 527
100, 259
118 652
104, 839
116 009
102, 255
10, 857
2,532
9,451
2, 467
10, 067
2,564
9,486
2, 790
10, 027
2,716
10, 001
2, 467
10, 475
2,491
10, 643
2,647
10,614
2,654
11, 903
1,910
11, 379
2,375
88, 464
105, 684
do
104, 258
96, 397
do
..do
do
__do
146, 679
80, 970
8 721
14, 038
159, 486
92, 092
10 076
12, 973
2, 154
Exports (motor fuel, gasoline, jet fuel) - --do
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. of bbL.
100-octane and above
do
Stocks end of month total
do
100-octane and above
- ~ do
Jet fuel:*
Production .
___ d o _
Domestic demand
do
Stocks end of month
.
do ._
Asphalt;:©
Production
_
...
do __
Stocks refinery end of month
do
Wax:Q
Production
do
Stocks refinery, end of month
. do Asphalt products, shipments:
Asphalt roofing, total
thous. of squares. ..
Roll roofing and cap sheet:
Smooth surfaced
do _
Mineral surfaced
.
. do _
Shingles all types
do
Asphalt sidings
- - do _ ~
Saturated felts
short tons
111, 116
115 707
120, 710
115, 653
121 816
113 379
112 558
109 212
422
070
221
004
172 396
101. 119
11 576
12, 805
165, 413
93, 285
10 188
13, 460
158
85
10
14
552
132
199
976
147, 154
76, 363
10 285
16, 327
146 844
75. 499
10 235
17, 553
141
72
10
18
352
578
560
048
140 236
71,035
9 958
1 7, 658
143 080
73, 327
10 023
18, 144
148 050
74, 852
9 821
16, 450
1,765
1 641
1,559
1,642
2 135
2,000
2,471
2 416
2, 171
2,510
1,904
.105
.125
.213
.105
.125
.211
.105
. 125
.212
.105
.125
.214
.105
.125
.216
.108
.125
.215
.108
.125
.214
.108
.125
.219
.110
.125
.218
.110
.130
.213
.110
.130
.212
8, 561
7,008
9 218
5, 569
8,019
6, 064
10 130
6 113
7,245
5 745
10 302
6 3«0
8,217
5,934
10 030
6 063
7 878
6, 433
9 605
6 098
8,771
6 496
9 675
6 124
8,926
7, 169
8 557
5 230
9,315
6 942
9 556
6 115
9,416
7 227
9 621
6 210
8, £34
6 843
10 108
6,487
9,263
7,480
10 074
6,527
8,301
6 803
10 035
6 571
3, 806
3, 643
3, 21 5
4,163
3 906
3, 472
4, 265
4 369
3 368
5, 285
5 087
3, 566
4, 243
4 202
3, 607
4 845
4 972
3 480
5,007
4 833
3 619
4 549
4 711
3 456
5 029
4 899
3 542
4 968
5 181
3 329
5, 076
5 136
3,229
4 754
4 786
3 197
4,200
7, 175
4, 246
8 623
4 230
9 888
5, 067
10 869
6,278
11 779
7, 827
11 524
8, 799
9 943
9 506
9 107
9 462
6 918
9 047
5 789
8,082
5 669
6 017
6 504
404
562
433
579
427
578
466
542
441
552
423
554
464
590
433
602
408
573
416
561
445
535
482
536
3, 134
3,190
3, 264
5, 533
6,099
5,972
6,950
5,225
7,183
6,242
5,948
4,617
568
674
603
686
652
687
1,088
1, 100
3,912
986
1,115
3 870
1,136
1,316
4,498
850
1,074
3,300
1 342
1,528
4 314
1 203
1 332
3 707
1, 190
1, 383
3 375
908
89, 320
77, 040
109, 404
69, 355
97 146
74 887
78 717
170
101
11
12
1,892
1,902
1, 925
1,134
1,063
3, 336
56, 707
62, 720
81, 326
112, 726
84
85
79
125
98
91
109
91
124
.110
. 125
.214
139
150
r
p. 200
p. 110
p. 130
.216
2,707
528
625
1, 076
2 632
1 5,54
104 4S7
81 117
2, 640
2 886
4 482
3, 027
2 7(}o
4 475
755 120
722 273
453 500
128
74
PULP, PAPER, AND PRINTING
PULP WOOD AND WASTE PAPER
Pulpwood:
Receipts .
Consumption
Stocks end of month
Waste paper:
Receipts
._
Consumption
Stocks end of month
thous. of cords (128 cu. ft.)._
do
do
_-
_.
2,680
2,512
5, 563
2, 647
2, 862
5, 348
2,189
2 752
4, 785
2,968
4, 359
2,837
4,235
2, 605
4, 363
3,075
5, 386
2 878
4 566
2 716
4 811
short tons .. 674, 021
643, 691
. do
do
454 263
655, 291
686, 004
428. 747
643, 881
676, 121
397 734
785, 696
785. 023
398, 987
743, 006
733, 154
407, 295
795, 214
793, 855
408 530
865, 151
904, 539
779 120
668, 080
633, 344
436 772
781, 481
802 637
415 277
765, 167
781 546
398 680
808 959 r 796 131
r
780 973
800 758
406 763 r 421 687
1 , 654. 5
78. 1
881.7
216. 9
212.1
104. 5
161. 1
1,564.8
1, 784. 1
82.1
1,709.4
1, 787. 9
91.5
976. 5
211.8
1,631.2
1, 810. 7
99.4
1,710.9
112 0
170. 0
1, 768. 3
89.2
971.0
210.6
219.8
112 1
165. 6
1, 873. 9 ' 1,801. 2 1,718.3
85 3
88 2
83 6
r
9°2 2
983. 4
1,005.7
201. ()
213.3
232.7
238.4
244.0 r 236. 6
116 6
108 5
100 1
186. 7
175. 9
171.3
743.4
175.9
489 6
77.9
49.0
14.0
35 0
WOOD PULP
Production :cf
Total, all grades
thous. of short tons-. 1,491.0
72. I
Dissolving and special alpha
do
784. 6
Sulfate " .-do
188.0
Sulfite
.
do .
205. 6
Groundwood
- ._
__ __ - - do._
93 3
Defibrited or exploded
do
147. 3
Soda, semichem., screenings, damaged, etc. -do
Stocks, end of month :cf
759 6
Total all mills
do
157. 4
Pulp mills
- -do 517 7
Paper and board mills
do
84 6
Nonpaper mills
- do
Exports, all grades, total
Dissolving and special alpha ...
All other
__
-
do
do .
do
53 6
13.9
39 7
2, 823
2,690
2, 645
2,417
5. 070
2.416
2,842
2,713
223. 0
233. 9
116 8
164.0
70.4
920. 2
233. 9
219.7
106. 6
158.6
731. 5
167 8
489 1
74.6
714.0
1 55. 8
485 0
73.2
712.1
154. 9
479. 5
77.7
719.3
1 62. 0
475 0
82.3
752. 9
170.8
491 2
90.9
62 5
13 1
49 4
54 A
15.1
39 3
55.5
16.1
39. 4
49 3
12.4
37.0
49 8
15.4
34 5
72 7
852. 8
196.5
206. 1
96 0
140.7
964.3
226.2
2,734
66.6
891.7
201.0
218. 0
105. 5
148.5
2,899
2 987
4 726
115.9
176.9
61 6
943. 6
204. 8
222. 1
110 8
168. 0
741.0
162, 8
491.8
86.4
759. 4
164.8
506 5
88. 1
764 5
152.1
520 2
92.3
770 4
157.4
514 8
98.1
52.5
19.0
33.5
53.5
14.5
39.0
55.0
19.7
35.4
40. 5
14.1
26.3
976.8
210.9
230.7
r
r
T
771.8
151.9
517 6
102.2
762 9
133. 1
525 8
103.9
55.0
17.6
37.4
212.5
157.2
188. 0
194.1
210. 6
208.4
159.6
181. 1
149 1
208 6
Imports, all grades, total
. do
169 5
158 2
21 5
15 9
20 5
19 2
15.2
18. 1
16 9
10 2
19 1
18 8
13 8
Dissolving and special alpha
do
16 7
142.1
194.5
177.2
190.0
172.0
135.4
161.9
186.9
All other _'
do
148.0
140.8
152.8
189.5
r
Revised.
? Preliminary.
*New series. Prior to 1954, included with data for gasoline, kerosene, and distillate fuel oil; for January-July 1954 figures, see note "l" on p. S-35 of the November 1954 SURVEY and earlie
issues.
©Asphalt—5.5
bbl. = l short ton; wax—1 bbl. = 280 Ib.
rf1 Effective with the October 1955 SURVEY, data as compiled by the Bureau of the Census have been substituted for those from the United States Pulp Producers Association.
SURVEY OF CURRENT BUSINESS
February 1056
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
S-37
1955
December
January
February
March
April
May
June
1956
July
August
Septem- October Novem- December •
ber
ber
January
PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCTS
All paper and board mills, production:!
Paper and board, total. - ... -thous. of short tons _
Paper
do Paperboard
. .
. _ _
_do--_
Wet-machine board
do _
Construction paper and board
_
_ _ d o - _.
Paper, excl. building paper, newsprint, and paperboard
(American Paper and Pulp Association):
Orders new
thous of 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
dol. per 100 Ib
Coarse paper:
Orders, new
- . thous. of 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 nt mills end of month
do
United States:
Consumption bv publishers
do
Production
_ _
_ do _
Shipments from mills
do
Stocks, end of month:
At mills
do
At publishers
- do _
In transit to publishers
do
2, 161
964
960
12
226
2,345
1,040
1, 054
12
239
2,249
989
1,024
12
224
2, 575
1,117
1, 167
14
277
2,457
1, 066
1,113
14
265
2,545
1,083
1,170
13
278
2,559
1,079
1,197
14
270
2, 265
968
1,026
9
261
2, 605
1,078
1,218
14
296
2,518
1,065
1,164
13
275
r 2, 681
r 1, 154
899. 5
606.3
852. 7
856. 7
436. 2
972.2
713.5
929. 5
930. 1
445. 7
919.5
701. 8
879.7
878.5
420.6
1, 049. 2
756. 8
999.6
1, 007. 3
413.5
956. 4
750. 9
951. 8
939.2
422.7
959.2
770.6
958. 0
952. 2
426.7
985
805
953
960
433
2
6
3
2
0
894 2
838. 6
850 7
834.8
436. 9
949 4
860 8
950 5
941 6
446.9
997 6
898 8
946 8
949 1
446.1
124.4
62.2
118.1
116.2
115 6
117. 5
62.0
121. 5
124.7
111 1
124.3
72.5
116. 7
121.5
107. 5
133.4
75.6
127.7
134. 1
101.5
124.4
78.1
120. 6
120.4
97 5
126. 1
85.9
125.2
124. 5
103 1
131 8
92 4
126 6
133 9
104 9
109 4
103. 4
98.6
98 9
99 6
113 5
96 2
116 7
118 6
94 7
128
109
123
124
100
324.1
300.1
290. 8
297.4
146. 5
345. 7
375. 2
313.9
309.9
150. 4
313.5
359. 2
295. 4
292.1
153.8
362. 4
382.4
343.9
344.1
153.6
318.9
372.2
317.2
312.7
158.0
327.7
380.0
326.3
330 1
154.3
363 6
415 4
324 6
327 8
151 1
317.0
433 3
285.8
280 7
156.2
337.1
451 5
329. 7
330 7
155 2
338
435
325
323
156
r
1,236
2, 599
1, 105
1,222
2, 475
1,082
1,137
13
278
13
260
12
243
1 033 8
896 1
1 021 7
1 008 0
462. 6
965 0
884 0
994 0
967. 0
466. 0
4
4
5
1
5
129
112
128
129
104
4
4
9
5
9
123 0
110 0
125.0
125. 0
82 0
2
i
2
8
6
357
441
337
340
153
0
2
7
6
8
r
333 0
435 0
339. 0
336 0
157.0
13.80
14.00
14.10
14.10
14.10
14. 10
14 10
14.45
14 45
14 45
14 45
14. 45
286. 5
128. 5
278 1
281.5
90.6
306. 8
152. 3
302. 3
298.9
105.7
304. 2
149. 6
293. 1
287.8
89.0
354.2
176. 4
331. 6
332.8
90.4
318. 7
172. 3
310.1
311.1
84.6
316. 8
180 5
313 4
309 0
87.7
304
175
311
311
93
6
9
4
5
5
296.9
181.0
284 0
282. 2
87.6
313. 9
188 9
311 0
308 2
93.4
331
223
306
305
88
338
210
332
328
89
316. 0
207 0
319 0
313 0
94.0
500. 1
506. 0
125.0
490. 8
466. 3
149.6
479.3
464. 1
164. 8
539. 1
512. 0
191.9
518. 6
540. 5
170.0
521 3
525 0
166 3
507 8
543 4
130 7
490 4
502.4
118 7
539 5
534 6
123 6
503 2
501 6
125 2
538 8
547 2
116 9
541 7
544 4
114 2
520 0
554 1
80 1
408. 0
109.2
111.5
383. 5
115.6
113.9
365. 2
109.9
110.6
438. 9
125.5
125. 1
431. 8
120.9
121.1
455 4
133 5
131 1
422 2
131 2
133 4
378 4
124 5
121 7
384 7
134 9
137 0
424 8
125 0
124 3
478 9
140 1
139 6
461 8
140 3
142 3
419 2
131 9
131 0
6.2
439.4
76.9
7.9
417. 8
131.1
7.2
412.2
87.7
7.6
383.1
82.6
7.4
369. 2
78.8
9 8
340 4
86.4
7 7
345 2
86.4
10 5
358 7
83.7
8 4
404 o
81.0
91
379 7
86.2
9 5
342 3
80.7
7 5
325 7
82.5
8 3
361 0
97.4
435.8
445.8
392.5
364.3
Imports
_ -.__-__- _
do _
Price, rolls, contract, delivered to principal ports
125. 75
dol. TXT short ton-. 125. 75
125. 75
125. 75
Paperboard (National Paperboard Association):
Orders, new
... . thous. of short tons. 1, 063. 0 1. 020. 3 1, 085. 0 1,311.7
450. 7
523. 4
363.0
515. 7
Orders, unfilled, end of month
do
Production, total
.
.
__.
_ -do
1, 054. 4 1, 013. 3 1, 043. 1 1, 214. 1
92
82
Percent of activity
95
96
Paper products:
Shipping containers, corrugated and solid fiber,
7,041
shipments
_
_
- mil. sq. ft. surface area
6,870
6,808
8,226
Folding paper boxes, index of value:
184.7
176.7
179.8
193.9
New orders
- _ _ . -1947-49=100168.2
172.3
151.8
178.9
Shipments
.. . _ _ - ..
._. do- -
6
9
9
5
7
7
3
4
0
0
421.2
446.7
447 5
392.0
454 8
409 3
453 1
125. 75
125. 75
125. 75
125. 75
125. 75
125.75
125. 75
1, 163. 1
507. 6
1, 142. 2
95
1 248. 4
621 0
1, 187 2
96
1 239
0
589 2
1 210 6
qq
1 082 4
602 9
1 019 2
81
1 305 7 1 167 4
585 7
665 8
1 264 3 1 192 4
99
97
1 299 8
591 3
1 260 2
7,863
7 948
8 171
7 098
8 603
8 594
188. 1
168.0
183 8
167. 1
198 9
179 9
187 3
150 3
206 6
188 5
188 1
191 0
1 175
965
210
1 069
838
231
993
800
193
920
692
228
723
588
135
951
783
168
46 166
105 782
43' 626
48 359
109 056
59 840
50 963
113 185
50 459
v 14.85
458 3
r
126. 75
p 127. 99
1 255 1
654 6
1 961 4
1 203 7
577 2
1 223 7
1 195 4
539 5
1 184 8
100
90
100
8 814
8 247
7 §27
189 7
194 3
191 6
189 2
185 2
180 7
1 467
1 256
1 086
'926
1 216
160
969
247
54 995 T 52 769
110 795 103 77^
45 720
50' 509
48 565
109' 854
.354
.325
.313
.323
.314
.455
.348
.400
.493
.433
'.453
70, 045 rr 67, 609 *T 78, 757 rr 75 604 r 81 617 T 77 819 T si 472 r 83 628 r 83 257
91 281
89 060
67, 709
68, 456
77, 173
72 123 r 75 421 T 79 497 T 62 897 T 72 722 r 76 375 r 80 389 r 8i' 661
147, 774 r!41 663 r!43 587 r!41 444 r!38 108 r!30 694 T 139 902 r!37 050 r!36 035 134 753 T 133 664
3,422
3,148
4,454
5,564
5,740
8,710
7,896
10, 497
11, 847
10, 890
11, 241
90 319
75 943
135 630
102
PRINTING
Rook publication, total
New books
_
_
New editions
_
number of editions
do
do
971
771
200
860
701
159
950
756
194
1 102
855
247
211
717
570
147
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption _ . . - . . . . - - _ . .
___ long tons . 55, 096
102, 943
Stocks, end of month
do
Imports, including latex and guayule _ .. ..do- - 43, 557
Price, wholesale, smoked sheets (New York)
dol. per Ib.288
Chemical (synthetic):
Production
... _
long tons.
58, 456
Consumption _ __ . ...
._ _ _ do _
64, 130
Stocks, end of month __
_ _
do
150. 175
2,672
Exports
do
Reclaimed rubber:
Production
_.
.
...
Consumption _ _..
Stocks, end of month
r
Revised. » Preliminary.
t Effective with the October 1955 SURVEY,
wet-machine board was formerly included with
do
do
do
25, 762
24, 546
30, 746
56, 911
101, 050
49, 941
50, 997
97, 189
50, 790
58, 472
102 058
61, 250
52, 963
101 620
61, 113
54 746
106 6f 0
61, 042
56 282
100 861
52 762
r
T
25, 237
25, 322
29, 656
25 332
24, 333
30, 125
29 574
28 674
30, 311
26 678
26 609
30, 068
27 911
27 652
29, 528
30 426
29 157
29, 725
24 034
22 563
29, 939
25 183
25 790
27. 956
26 377
26 340
27. 110
27 947 r 20 113
26 597 r 27 229
27. 565 •• 28. 473
.470
.408
28 102
24 604
31. 100
items have been revised as follows: Construction paper (formerly included in the total for paper) is now combined with construction board;
paperboard.
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through 1954 and 1954
descriptive notes are shown in the 1955 edition of DecemBUSINESS STATISTICS
ber
February 1956
1955
January
February
March
April
May
June
1956
July
August
Septem- October Novem- December
ber
ber
RUBBER AND RUBBER PRODUCTS—Continued
TIRES AND TUBES
Pneumatic casings: cf
Production
Shipments, total
Original equipment
Replacement equipment
Export
9,040
8,745
10, 083
9,153
9,949
10, 703
9,027
8,717
9,125
9 555
9 603
8 478
7,344
3,707
3, 468
169
8,911
3,785
4,967
159
8,272
3,833
4,281
157
9,907
4,780
4,926
201
9,937
4,457
5,315
165
9,865
4,352
5,361
152
10, 234
3,931
6,129
174
9,729
3 890
5,711
128
9,462
3 362
5,980
119
8 453
3 142
5,170
140
8 117
3 495
4 460
161
8 045
4 303
3 592
150
7 515
4 045
3 298
172
do. .. 14, 762
141
do
14, 949
134
15, 368
155
15, 609
180
14, 890
155
14, 936
154
15, 460
155
14, 684
125
13, 908
111
14, 674
137
16, 163
147
17 727
140
18 778
3,200
2, 569
3,089
4,116
2,850
2,862
3,234
3,327
2,836
3,250
3,005
3,233
3,136
3,565
2,768
3.450
2,923
3,733
3 169
3 261
3 119
3,004
3 052
2,875
2 719
2*686
9,519
70
8,252
58
8,244
81
8,217
96
7,963
87
7,735
62
7,326
78
6,664
67
5 917
48
5, 966
78
6 286
67
6 734
78
6 833
24 894
101
21 985
do
do
do
do_
Stocks, end of month
Exports
Inner tubes: cf
Production
Shipments
8,442
thousands
. __
__
. _.
Stocks, end of month
Exports
_
do
do
do
__do_ _
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Production
Percent of capacity
Shipments ._ _ _ __
Stocks, 3nd of month:
Finished
Clinker
_
thous of bbl
___
thous. of bbl
22 290
89
16, 347
20 223
81
13, 520
17 611
78
14, 031
22 340
89
22, 941
24 818
103
25, 295
27 031
108
29, 527
26 762
111
31, 606
27 332
107
29, 467
27 861
109
31, 883
26 958
109
29 887
27 924
do. __
do
16, 731
5,274
23, 437
7,888
27, 087
10 812
26, 516
12, 571
26, 106
12 044
23, 672
10, 439
18, 855
8 624
16, 727
7 192
12, 731
5 373
9 779
4 413
r
8 754
r
3 514
11 663
4 062
519, 144
464 080
468, 522
412 028
445, 775
405 001
562, 507
568 469
569, 355
605 391
613, 871
652 091
653, 910
684, 429
623, 164
627 200
677, 449 675 876
680 758 677 850
656, 86S
637 593
632 714
581 028
28. 430
28. b42
28. 559
28. 559
28. 654
28. 750
28. 846
28. 952
29. 308
29. 451
29. 736
151,619
121,607
132, 268
100, 512
133, 933
108, 975
163, 417
148, 750
142, 879
147, 018
156, 551
173, 337
179, 359
197, 360
151, 504
170, 587
173, 326
193 115
182, 797
187 947
171,814
171,749
174 343
157 170
163 161
117 863
68, 621
64, 351
65, 827
63, 716
65, 438
59, 583
7
2, 470
69, 059
65, 146
70, 105
67, 600
72, 353
77, 358
77, 109
72, 615
69, 870
73 376
80, 651
69, 241
74, 339
72, 165
73, 672
69 631
64, 489
69 078
59 681
8, 538
10, 449
10, 211
11, 293
11, 045
11, 758
12, 219
11. 858
13, 109
11, 234
12, 173
10, 557
10, 166
8,891
9,593
9,177
10, 930
10, 422
11, 635
12, 063
10, 996
14, 361
11, 194
11, 147
9,845
11, 332
'no
28 950
CLAY PRODUCTS
Brick, unglazed:
Production
_. __ thous. of standard brick
Shipments
do
Price, wholesale, common, composite, f. o. b plant
dol. per thous.
Clay sewer pipe, vitrified:
Production.
Shipments
Structural tile, unglazed:
Production
Shipments
_ ___
short tons
do
do
do
. _
r
566 810
480 413
29. 831 P 30. 017
GLASS PRODUCTS
Glass containers:
Production
thous. of gross
Shipments domestic, total
do
General-use food:
W arrow -neck food
do
Wide-mouth food (incl. packers' tumblers, jelly
glasses and fruit jars)
thous of gross
Beverage
Beer bottles
Liquor and wine
Medicinal and toilet
Chemical household and industrial
Dairy products
Stocks end of month
--
-_
do
-~dodo
do
do
do
do_ __
767
833
846
1,038
1,052
1,114
1,176
1,217
1,852
1,746
1,348
931
1,057
2 514
3,016
2 719
2,836
2,699
3,277
3,226
3,093
4 749
3 013
3,271
2,955
3,410
506
677
1,012
2,369
757
289
392
596
847
2,772
923
214
455
536
976
2 564
903
178
853
854
1,257
2,894
997
201
980
1,070
1,097
2 399
930
195
1,311
1,156
1,060
2,555
959
203
1,510
1,282
1,167
2,491
998
213
1,230
1,161
972
2,196
915
212
931
1,145
1,144
3,027
1,184
329
480
739
1,203
2,669
1,015
329
411
597
1,486
2,791
1,003
240
471
589
1,346
2,477
839
237
708
730
1,161
3,106
920
240
12, 892
13, 301
14, 058
14, 247
14, 521
14, 331
14, 327
14, 805
13,263
13, 040
13, 719
14, 123
12,700
GYPSUM AND PRODUCTS
Crude gypsum, quarterly total:
Imports
Production
thous of short tons
do
Calcined production quarterly total
do
Gypsum products sold or used, quarterly total:
Uncalcined uses
short tons
Industrial uses
Building uses:
Plasters:
Base -coat
All other (incl Keene's cement)
Lath
Wallboard
All other O
838
2, 550
653
2,333
877
2,589
1,327
2,871
2 026
2,025
2.148
2,402
814 663
650, 083
753, 092
761,999
do
66 327
73, 624
72, 338
72, 174
do
do
400, 172
266 754
395, 234
255, 906
476, 667
312,123
511, 104
357, 985
641.8
1,091. 4
53 8
683.3
1, 137. 4
44.3
724.4
1,157.4
55.8
771.3
1,175.1
56.9
mil. of sq. ft-_
do
do
1
•• Revised.
*> Preliminary.
1 Includes data for laminated board.
cfData for 1954 for production, shipments, and stocks have been revised. Unpublishedr evisions (for January-May) are available upon request.
O Comprises sheathing, formboard, tile, and for 1955 also laminated board.
January
SURVEY OF CUEKENT BUSINESS
February 1056
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
December
S-39
19 55
January
February
April
March
May
1956
June
July
August
12, 585
10 260
13, 674
1,945
1
550
5, 520
1 004
292
3 696
1,856
564
5,088
Septem- October Novem- December
ber
ber
January
TEXTILE PRODUCTS
APPAREL
Hosiery, shipments.
thous. of dozen pairs. . 12, 776
Men's apparel, cuttings:^
Tailored garments:
i 2, 050
Suits
_ -.
-- thous. of unitS1320
Overcoats and topcoats
do
1
4, 980
Trousers (separate), dress and sport
do
Shirts (woven fabrics), dress and sport
thous. of doz.. 1 1, 715
Work clothing:
1340
Dungarees and waistband overalls
_
_ do
1
265
Shirts
do
Women's, misses', juniors' outerwear, cuttings:
r
2,
065
Coats
thous of units
r
20, 909
Dresses
__
_ _ do
T
} , 372
Suits
do
Waists, blouses, and shirts
thous. of doz__ r 1, 406
12, 335
12, 969
14, 162
12,001
10, 713
1,848
296
5,712
1,816
288
4,944
i 2,1 065
335
1
5, 940
1,636
372
5,856
1,816
496
5, 328
1
1,840
1,876
i 2, 225
1,908
1,744
1
1.865
1,356
1,708
352
300
388
300
416
360
424
360
1
425
1
304
324
452
360
2 187
20, 453
1 773
1,248
2 110
20, 273
1 756
1,289
1 146
29, 459
880
1,358
887
28, 91 2
782
1,280
1 839
24. 548
1 040
1,286
2 170
17 136
1 137
970
2 697
22 950
1 424
1 236
313
1,388
1435
1
415
2 896
28, 070
1 846
1,446
1
410
14, 024
14. 236
14, 463
1 , 900
1
605
5, 640
1,684
400
4,944
1,716
340
5,424
i 1,910
1,856
1,864
i 1, 890
424
384
372
376
i 375
i 3Qo
2 442
21 188
930
1 055
2 564
19 997
994
1,084
2 684
20 607
1 449
1 092
1 985
18 589
1 640
789
4 815
9 553
13 052
1
1
1
455
i 400
12, 198
i 1 945
i 335
5 160
1
COTTON
Cotton (exclusive of linters) :
Production:
Ginnings§
-thous. of running bales. . 213,017 3 13,413
Crop estimate, equivalent 500-lb. bales
thous. of bales ..
Consumption^
bales '1801,596 r 71 6 045
Stocks in the United States, end of month, totalf
thous. of bales _. rr 17,716
16, 699
Domestic cotton, total .
. .
do
17, 662
16 637
On farms and in transit,
do
»•
2,
008
1,426
r
Public storage and compresses
do
14, 008
13,445
r
Consuming establishments
do
1, r646
1,767
Foreign cotton, total
do
54
62
Exports _
..
-.bales.. 496, 665 334, 044
Imports
do
16, 489
10, 129
Prices (farm), American upland
cents per lb_.
32.7
32.5
Prices, wholesale, middling, l$it", average 14 mar33.9
kets
cents per Ib
34.0
Cotton linters:^
Consumption . _
---thous. of bales. _ ••illl
125
1
Production
do
196
187
Stocks, end of month
do ._ r 1, 794
1,831
U3,618
r
4 13, 696
720 591 "•1893 238
r
695 188
r
704 029
rl
849 413
r
565 834
717 227
1
2
13, 704
874 837
737 056
741 447 1855 447
3
14, 380
5
14, 663
15, 695
15 586
1,075
12, 668
1, 843
109
307, 456
16, 805
31.7
14, 469
14, 410
730
11, 848
1,832
58
369, 241
28, 374
31.9
13, 558
13, 492
556
11,162
1,774
66
239, 330
16, 594
31.9
12, 646
12 575
500
10, 399
1,676
71
230, 690
12, 493
31.5
11. 520
11 449
273
9,705
1,471
70
280, 923
9,049
31.4
11,121
11 055
220
9,474
1,361
65
58 855
9 875
32.1
22, 764
22 703
11,801
9 729
1,173
61
60, 438
7 379
32.7
22, 824
22 777
9,818
11 782
1,177
47
116, 109
23 730
33.8
22, 827
22 767
6,921
14 515
1 331
59
191, 536
10 516
32.8
21, 745
21 688
3, 584
16 5«1
1, 523
56
137, 449
19 234
32.4
20, 768
20 708
1,476
17 561
1,671
60
31.2
30.7
34.1
33.5
33.4
33.7
33.8
33.7
33.6
33 0
32 9
33 6
33 7
34 1
115
166
1,827
i1 137
140
1,793
135
102
1,738
142
87
1,666
* 129
1
57
1,559
127
51
1,475
141
67
1,373
157
216
1,397
155
235
1,418
1
147
i 154
1,353
1
142
i 206
1 431
COTTON MANUFACTURES
Cotton cloth:
Cotton broad-woven goods over 12 inches in width,
production, quarterly
mil. of linear yards
Exports
thous of sq yd
Imports
do
Prices, wholesale:
Mill margins
_ _ _
cents per lb__
Denim, white back, 28-inch, 8 oz/vd cents per yd
Print cloth, 39-inch, 68 x 72
do ._
Sheeting, class B, 40-inch, 48 x 44-48
do
Cotton yarn, natural stock, on cones or tubes:
Prices, wholesale, f. o. b. mill:
20/2, carded, weaving
_dol. per lb._
36/2 combed knitting
do
2,497
52 641
9,953
44 123
7,683
47 427
7,035
2,594
64, 552
10, 940
47, 886
8,481
49 821
9,492
2, 455
41 467
9,305
37 192
9 435
37 097
9 922
2 405
42 051
12 755
49 885
15, 750
42 469
16, 478
26.50
35. 1
15.9
16 6
27.29
34 9
16.5
16 6
27.37
34.9
16.5
16.6
27.78
34.9
16.3
16.6
27.36
34.9
16.0
16. 5
26.59
34 9
15.8
16 3
26.34
34 9
16.0
16 1
26 65
34 9
16.3
16 1
27.21
35 4
16.3
16 9
28.91
36 4
16.4
17 3
29.78
36 4
16.6
17 5
30. 24
36 4
17 5
17 8
31.08
p 36.4
r> 18.0
p 18.1
.664
.947
.665
.947
.664
.945
.663
.945
.665
.949
.668
.955
.676
.968
.693
978
.696
984
r
.701
984
p. 708
p. 988
20, 674
19, 160
9,594
488
8,854
134.6
19, 824
18, 302
9,678
484
8,937
135.7
20, 708
19, 147
8,234
433
7,546
115 7
20, 735
19, 136
10, 088
504
9,293
141.4
20, 799
19, 243
i 12, 287
455
i 11,363
i 138. 0
20, 883
19 302
10, 290
515
9,512
144.9
20, 902
19 352
10,150
508
9,393
143. 0
20, 988
19, 440
i 11, 848
474
i 10, 992
i 133. 3
69.9
30. 6
65.4
27.5
72.7
33.2
70.3
29.8
69.9
36.2
70.8
31.3
.642
.933
Spindle activity (cotton system spindles) :f
Active spindles, last working day, total.
thous__ 20, 626
Consuming 100 percent cotton
do
19, 136
Spindle hours operated, all fibers, total, mil. of h r _ _ i 11,059
Average per working day
do
442
i 10, 239
Consuming 100 percent cotton _
do
1
122. 5
Operations as percent of capacitvd"1
- -
. 659
.931
20, 782
19, 282
9,934
497
9,184
138.0
20, 954
19, 429
10, 046
511
9,299
140.1
65.8
35.4
67.9
33.0
83.9
39.1
77.5
33.0
55 5
28.6
11,906
50 4
25.8
11, 356
44.3
22.2
17, 734
39.3
22.1
18. 604
40 1
21.0
18, 800
43 6
20.5
17, 904
46 3
25.6
17 473
44.9
24.5
17, 029
47.7
25.8
13, 057
48.6
28.9
11, 924
780
.336
780
.336
830
.336
830
.336
830
.336
830
.336
.830
.336
.830
.336
.830
.336
830
.336
20, 892
19, 365
i 12, 400
496
1
11, 485
i 138. 5
19, 840
18, 335
11, 789
481
1
10,
867
1
132. 3
1
31. 26
RAYON AND ACETATE AND MFS.
Filament yarn and staple:
Shipments, domestic, producers':
70.4
Filament yarn
mil of Ib
34.9
Staple (incl. tow)
do
Stocks, producers', end of month:
Filament yarn
do
55 6
32.0
Staple (incl. tow)
do
Imports
thous of Ib
12, 696
Prices, wholesale, viscose, f. o. b. shipping point:
780
Filament 150 denier
dol per Ib
.336
Staple, 1 5 denierO
do
Rayon and acetate broad-woven goods, production,
quarterly total
thous, of linear yards - 464, 858
T
70.6
••30.1
r
r
469, 853
478, 901
r
70.7
30.5
r
49.
r
5
29. 1
9,871
830
.326
52.2
34.2
p. 830
p. 326
452, 303
SILK
Silk, raw:
Imports
thous of Ib
Price, wholesale, white, Japanese, 20/2~2 denier, 87%
(AA) f o b warehouse
dol per Ib
692
1 400
812
879
585
658
492
505
997
1 211
1 058
4 60
4 61
4 53
4 46
4 56
4 58
4 60
4 76
4.85
4.75
4.58
1,259
r
4 43
P 4 42
WOOL
Consumption, mill (clean basis) :\
1
23, 142 1 25 896 r 22, 990 ' 22, 643 P 125,922
22 722
22 725 1 27 121
23 495 1 27 041
22 599
21 349
20 682
Apparel class
thous of Ib
10. 509 1 13. 242 11, 890 ' 11, 566p 113,961
10. 336 1 11. 260
10. 217
6.637
* 11. 070
9.960
10. 195 i 12. 676
Garnet class_do
r
2
3
4
Revised.
p Preliminary.
i Data cover a 5-week period.
Ginnings to December 13.
Ginnings to January 16.
Total ginnings of 1954 crop.
5
December 1 estimate of 1955 crop.
IData for December 1954 and March, June, September, and December 1955 cover 5-week periods and for other months, 4 weeks; cotton stocks and number of active spindles are for end
of period covered.
§Total ginnings to end of month indicated.
cf The operation rate is calculated on a 5-day, 80-hour week without any adjustment for holidays.
©Quotations beginning August 1955 not strictly comparable with earlier data.
S-40
SUEVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS
1954
February 1956
1955
December
January
February
March
April
May
June
1956
July
August
Septem- October Novem- December
ber
ber
January
TEXTILE PRODUCTS—Continued
WOOL AND MANUFACTURES— Continued
Wool imports, clean content
_ _ _ _ . thous. of lb_Apparel class (dutiable), clean content
do
Wool prices, wholesale, raw, Boston:
Territory, 64s, 70s, 80s, clean basis
dol. per lb_.
Bright ileece, 56s-58s, clean basis
_
do.
Australian, 64s, 70s, good topmaking, clean basis, in
bond
dol. per Ib
Knitting yarn, worsted, 2/20s-50s/56s, Bradford system,
wholesale price. __ _.
dol. per lb_
Woolen and worsted woven goods, except woven
felts:
Production, quarterly, total
thous. of lin. yd_Apparel fabrics, total
do_
Government orders
do.-_
Other than Government orders, total
do__.
Men's and boys'
_
do_ _
Women's and children's..
do.-_
14, 453
7,828
19, 666
12.066
17, 956
9,313
26, 938
13, 071
23 703
11,565
23 578
11, 688
22 999
10, 331
22 876
9,517
24 012
9,855
19 406
7,729
21 117
8,341
17 943
9,588
1. 560
1. 135
1.550
1.146
1.556
1.191
1.535
1.138
1.495
1 095
1.475
1 072
1.435
1 066
1.425
1 086
1. 385
1 069
1. 325
1 020
1.300
gqg
1.275
992
1. 625
1.525
1.475
1.475
1 475
1 475
1 475
1 475
1 395
1 275
1 262
1.928
1.928
1.916
1.916
1.879
1.867
1.867
1.867
1.844
1.844
1.819
74, 972
69, 476
1,208
68, 268
34, 038
34, 230
73, 764
69 564
1,105
68, 459
36, 377
32, 082
84, 266
80 296
2 769
77, 527
37 856
39, 671
76, 041
72 965
1 434
71,531
32 378
39, 153
Nonapparel fabrics, total
do. _
Blanketing
do
Other nonapparel fabrics
do
Prices, wholesale, suiting, f. o. b. mill:
Flannel, men's and boys'
1947-49=100.Garbardine, women's and children'sdo. _.
5,496
2, 554
2,942
4,200
2,815
1,385
3,970
2,969
1,001
3,076
2 111
965
112.1
103.6
112.1
103.6
112.1
97.3
112.1
97.3
112.1
97.3
112.9
97.3
112.9
97.3
1.298
1 029
1.316
1 064
1 225
1 22i
1 300
1.819
p 1 819
112.9
97.3
112.9
97.3
112.9
97.3
112.9
97.3
112.9
97.3
112 9
97 3
345
658 l
188
337
447 8
116
478
646 8
TRANSPORTATION EQUIPMENT
AIRCRAFT
Civil aircraft (complete), shipments
Airframe weight
Exportsd71-
290
522.4
97
350
859.2
83
357
962.9
115
478
1, 032. 1
162
438
762. 5
111
486
1, 139. 2
185
538
1,211 9
175
354
932 5
201
241
757.0
132
341
696 4
132
766,185
427
337
669, 936
643, 763
95, 822
79, 793
725, 379
190
185
635, 513
611,040
89, 676
73, 947
744, 942
176
148
677, 705
648, 616
67, 061
55, 253
894, 597
325
267
791, 280
765, 663
102, 992
86, 060
881, 840
519
501
753, 434
727, 907
127, 887
110, 176
849, 393
313
266
721, 139
697, 471
127, 941
108, 362
767, 182
309
237
647, 658
629, 185
119,215
101, 625
768, 621
296
256
658, 736
643, 402
109, 589
93, 739
716, 163
434
410
620, 610
602 959
95, 119
80 077
559, 962
223
198
467, 845
459 073
91, 894
76 851
35, 010
20, 393
14, 617
38, 642
21, 670
16, 972
36, 271
23, 256
13,015
37, 136
24, 136
13, 000
40, 607
23, 000
17, 607
35, 293
19, 343
15, 950
33, 458
17, 381
16, 077
30. 903
15, 181
15, 722
30, 382
15, 207
15, 175
23, 166
9 769
13 397
22, 729
8, 759
13 970
30 396
17 878
12 518
do
do
do
.-do
4,925
4,726
2,823
199
4,750
4,602
2,849
148
5,226
5,029
3,091
197
6, 402
6,140
3,739
262
6,360
6, 068
3,704
292
6,336
6,034
3,843
302
7,368
7,082
4,491
286
5, 989
5,799
3,593
190
7 254
7,050
4 483
205
7 161
6,943
4 299
218
6, 948
6,740
4,241
208
7 151
6 941
4 727
210
_ do
do
656, 611
69, 838
440, 024
62, 231
476, 584
56, 242
636, 534
64, 732
651, 855
79, 071
661, 304
82, 086
681, 372
90, 005
647, 245
84, 413
658, 964
92, 079
654, 532
89, 924
576, 045
87, 262
2,240
1, 436
1,377
804
2,014
1,605
1,605
409
2,603
2,063
1,913
540
3,133
2,368
2,068
765
3,075
1,989
1,664
1,086
4 320
2,675
2, 438
1,645
3 057
1,732
1,690
1,325
2,968
1,954
1,284
1,014
5 029
3, 187
1, 935
1,842
3 965
2, 392
1,708
1 573
4 233
2,856
2,455
1,377
r 3 845
r 2 749
2 331
1 096
3 814
2 714
2 696
1 100
757
671
57
34
761
693
40
18
725
672
36
21
953
918
45
27
920
896
36
25
1,024
1,007
49
41
1,001
982
55
48
993
977
39
33
952
937
45
42
594
583
355
350
433
424
206
204
399
390
38
38
860
851
39
39
1,736
1,733
1,730
1,727
1,723
1,720
1,717
1,709
1,704
1,702
1,702
1,700
1 694
116
6.7
13, 624
6,078
7,546
121
7.0
16, 970
7,248
9,722
124
7.1
17, 096
6,981
10, 115
117
6.8
18, 001
6,240
11, 761
114
6.6
18, 193
6,235
11, 958
110
6.4
17, 030
5,590
11, 440
103
6.0
27, 848
15, 459
12, 389
96
5.6
44, 622
23, 613
21, 009
94
5.5
50, 087
27, 201
22, 886
86
5.1
50, 642
28, 799
21, 843
80
4.7
57, 410
31, 294
26, 116
75
4.4
103, 685
46, 947
56, 738
71
4 2
135, 293
62 996
72, 297
1,227
14.5
1,290
15.6
1,298
16.1
1,215
15.7
1,247
16.5
1,186
16.2
1,204
16.7
1,228
17.4
1,105
16.5
1,048
16.1
1,016
16.1
1 013
16 4
997
16 8
493
472
455
428
360
385
470
467
704
816
876
906
854
29
28
42
45
49
38
22
59
45
23
40
62
394
387
342
444
359
507
425
476
406
678
833
578
533
521
455
506
346
670
441
650
449
636
441
638
520
1,449
1,652
1,808
1,647
3 926
2,188
1,961
2,163
2,463
2,569
2 684
2 333
number
thous. of Ib
number..
MOTOR VEHICLES
Factory sales, total
Coaches total
Domestic
Passenger cars, total
Domestic
Trucks, total
__
Domestic
_-
Exports, total
Passenger cars
Trucks and buses
Truck trailers, production, total
Complete trailers
Vans
Trailer chassis
Registrations:
New passenger cars
New commercial cars _,
number
do
do
do
do
_.do.
do
do
do_
do
601 256 r860 800
r 359
469
r 340
385
505, 177 745 993
491 893 720 667
95, 610 114' 448
81 390
98 345
799 009
410
406
695 043 i 611 200
667 920
103 556 i 105 900
86 891
6 909
6 663
4 438
246
509 155 p2 343 438
75 756 ^93 733
RAILWAY EQUIPMENT
American Railway Car Institute:
Freight cars:
Shipments total
number
Equipment manufacturers, total
do
Domestic
- __
do
Railroad shops, domestic
do
Passenger cars, equipment manufacturers:
Orders unfilled, end of month, total
doDomestic
-- do
Shipments, total
__ -do
Domestic
-do.
Association of American Railroads:
Freight cars (class I), end of month :§
Number owned O thousands
Undergoing or awaiting classified repairs
thousands _
Percent of total owned
Orders, unfilled O number. _
Equipment manufacturers
do
Railroad shops .
.. _ -do
Locomotives (class I), end of month:O
Steam, undergoing or awaiting classified repairs
number
Percent of total on line
Diesel-electric and electric: Orders, unfilled
number of power units
Exports of locomotives, total
number
INDUSTRIAL TRUCKS AND TRACTORS
Trucks, electric, shipments:
Hand (motorized)*
number
Rider-type
do
Trucks and tractors, gasoline-powered, shipments*
number
r
2
J
Revised.
? Preliminary.
Preliminary estimate of production based on Ward's Automotive Reports. Production for preceding month: 682,700 passenger cars; 98.900 trucks.
For 35 States.
cTExports revised beginning January 1954 to include 2 types of aircraft formerly classified as "special category" and therefore excluded from the total.
§ Excludes railroad-owned private refrigerator cars.
0 Data beginning December 1955 reflect reclassification of reporting roads to revised I. C. C. list of Class I line-haul railroads;
comparability with earlier data, based on ownership, is affected by less than 1 percent.
*New series. Data prior to January 1955 are not available.
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 : 1 9 5 6
•INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
Acids....
24
Advertising
,____
.____„
8, 9
Agricultural employment
___
___
II.
Agricultural loans and foreign trade
16, 17, 21, 22
Aircraft and p a r t s _ _ _ _ _ .
2, 12, 13, 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
2,3,6,8,9, 10, 12, 13, 14, 15,39
Asphalt and asphalt products
36
Automobiles
2,3,8,9,12,13, 14, 15,16,17,22,40
Pages marked S
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.
2,3,6,9,10,12,14, 15, 17
Furs....
...
22
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
„ _ „ _ _ 2,6,8, 12, 13, 14, 15,27
Bituminous coal
_ _ _ _ 11, 13, 14, 15, 35
Blast furnaces, steel works, e t C - _ _ _ _ . _
12, 14, 15
Blowers and fans...
_
_
,_ _
34
Bonds, issues, prices, sales, yields _ . .
... 17,19, 20
Book publication
,_„„___
____,.
37
Brass and bronze
______
.__.
—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 and inventories_„.«_,,____,
3
Butter
..-._.....
_
27
Gas, prices, customers, sales, revenues _ _ _
6, 27
Gasoline
. _. _
9, 36
Glass products
.
„ „ __
38
Generators and motors
,_ _ _
34
Glycerin.
24
Gold
18
Grains and products
5,6, 22, 23, 28, 29
Grocery stores
9, 10
Gross national product
1
Gross private domestic investment
1
Gypsum and products.
6, 38
Cans (metal), closures, crowns.____,
_.
._ 32,33
Carloadinps
. . ..
,__„__
23
Cattle and calves..
______
_.
29
Cement and concrete products,_ _ —
6, 38
Cereals and bakery products
._ 6, 12,13,14, 15
Chain-store sales (11 stores and over only)___
10
Cheese......
....
.... 27
Chemicals
2, 3, 4, 6, 12, 13, 14, 15,19, 22, 24
Cigarettes and cigars
, _.
6, 30
Civilian employees, Federal_,
12
Clay products (see also Stone, clay, etc.)_-_ _ _ 6, 38
Coal___.__.
3, 6, 11, 13, 14, 15, 22, 23, 34, 35
Cocoa
.
. _ . _ _ _ _ _ _ - . _ _ . . _ . . 22, 29
Coffee. _ _
- _ „ _ _ _ . - - _ . _ . _ - _ _ - _ _ 22,30
Coke
.. —
. 23,35
Commercial and industrial failures
5
Communications
11, 13, 14, 15, 19, 20, 24
Confectionery, sales
_„________
29
Construction:
Contracts awarded...,
...
______
7
Costs
______.___..
_.
7,8
Dwelling units
7
Employment, earnings, hours, wage rates__
11,
13,14,15
Highways and roads
. _ . _ > . . _ - _ _ > _ _ 7, 8, 15
New construction, dollar v a l u e . _ _ _ _ _ _
1,7
Consumer credit
...
_. 16,17
Consumer durables output, index
3
Consumer expenditures
1, 9
Consumer price index
___
6
Copper
___________
22,33
Copra and coconut oil
25
Corn
_
28
Cost-of-living index (see Consumer price
index)
6
Cotton, raw and manufactures
2,5,6, 22, 39
Cottonseed, cake and meal, oil
25
Credit, short- and intermediate-term
16, 17
Crops
... 2,5,26,28,30,39
Crude oil and natural gas
. _ __ _
._
3
Currency in circulation
__ ,
18
Dairy products.
2,5,6, 12, 13, 14, 15, 27
Debits, bank
16
Debt, United States Government_ _ .
17
Department stores
9, 10, 11, 17
Deposits, bank
16, 18
Disputes, industrial
13
Distilled spirits
27
Dividend payments, rates, and yields
1,18,19, 20
Drup-store sales
._
9, 10
Dwelling units, new
._
,__
7
Earnings, weekly and hourly
14, 15
Eating and drinking places
9, 10
Eggs and poultry
_ _ _ 2, 5, 29
Electric power
6, 26
Electrical machinery and equipment
2,
3,6,12,13,14,15,19,22,34
Employment estimates and indexes..
11, 12
Employment Service activities
13
Engineering construction
7, 8
Expenditures, United States Government.___
17
Explosives
25
Exports (see also individual commodities)
21, 22
Express operations
23
Failures, industrial and commercial
5
Farm income, marketings, and prices
1, 2, 5, 6
Farm wages
15
Fats and oils, greases
. ____ .
6, 25, 26
Federal Government
finance
17
Federal Reserve banks, condition of
,_
16
Federal Reserve reporting member banks
,
16
Fertilizers
6, 25
Fiber products
,_
34
Fire losses
8
Fish oils and
fish
.
.
._ 25, 30
Flaxseed
26
Flooring
31
Flour, wheat
, _ _ _
29
Food
2, 3, 4, 5, 6,
Digitized
forproducts
FRASER
8, 9, 10, 12, 13, 14,15, 18, 22, 27, 28, 29, 30
Hardware stores.
,
.
6, 9
Heating apparatus....
.____
—
34
Hides and skins
. _ . _ . _ _ 6, 22,30
Highways and roads____.
.____
. . _ . _ _ - 7, 8, 15
Hogs
.
.
——
29
Home Loan banks, loans o u t s t a n d i n g . _ _ _ _ _ _ _
8
Home mortgages.
—-___
8
Hosiery
.......
„_____„___
39
Hotels...
___._____.
..-_ 11, 13, 14, 15, 24
Hours of work per week_____ _
_ _ _ _ _ 12,13
Housefurnishings
,__
, _ _ _ , , _ _ _ 6, 8, 9, 10
Household appliances and radios
, _ _ _ _ 3, 6, 9, 34
Imports (see also individual commodities)
21, 22
Income, personal.._
.
1
Income and employment tax receipts
17
Industrial production indexes.__.
_._...—
2,3
Installment credit
.
_ . . _ _ _ - . 16, 17
Installment sales, department stores. _ _
10
Instruments and related products. 2, 3,12,13,14,15
Insulating materials..
...—
34
Insurance, life
,
...
18
Interest and money rates
__.
16
International transactions of the U. S _ _ _
21, 22
Inventories, manufacturers' and trade.
3, 4, 10
Iron and steel, crude and manufactures _ _ _ _ _ _
2,
6,8,12,14,15,19,22,32,33
Kerosene.
....
..
35
Labor disputes, turnover._
—. _
13
Labor force
_ . , _ _.
._.
11
Lamb and mutton.
29
Lard
. _
_.
29
Lead...
...
33
Leather and products.
_.
_ _ _ _ _ _ _ _ — __
2,
3,6,12,13,14,15,30,31
Linseed oil
_________________
26
Livestock.
2,5,6,23,29
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
8,16,17,19
Locomoti ves
,_ _ _ _
._-.__
40
Lubricants
__
36
Lumber and products
2,
3, 4, 6, 8, 9, 10, 12, 14, 15, 18, 31, 32
Machine activity, cotton
. _. _
39
Machine tools.
...
~___
,_
34
Machinery.
2,3,4,5, 6, 12, 14, 15, 19, 22,34
Magazine advertising
8
Mail-order houses, sales
,____.,
__
11
Manufacturers' sales, inventories, orders _ _ _ _ _ 3, 4, 5
Manufacturing production indexes
2,3
Manufacturing production workers, employment, payrolls, hours, wages _ _ _ _ _ 11, 12, 13, 14, 15
Margarine
_
26
Meats and meat packing
2, 5, 6, 12, 13, 14, 15, 29
Medical and personal care
__
6
Metals
2 , 3 , 4 , 5 , 6 , 11.12, 13, 14, 15, 19,32,33
M ethanol
_ _^
„_„_-___.
24
Milk ...
_-----__27
Minerals and mining.,..___ 2, 3, 11,13, 14, 15, 19, 20
Monetary statistics
____,
.
,_
18
Money supply
--,
,
18
Mortgage loans
_ . _ _ _ 8, 16, 18
Motor carriers.
—...
23
Motor fuel
36
Motor vehicles
... 6,9, 19,40
Motors, electrical
...
34
National income and product.
,____.
1
National parks, visitors._.
.__.____
24
National security
, _ 1,17
Newspaper advertising...
.
_—„
8, 9
Newsprint
22, 37
New York Stock Exchange, selected data
19, 20
Nonferrous metals
2, 6, 12, 14, 15, 19, 22, 33
Noninstallment credit
,.
.
17
Oats
.___-___._._„„_
28
Oil burners..
...
34
Oils and fats, greases
.
6,25, 26
Orders, new and unfilled, manufacturers'
5
Ordnance
...
... 11,12,14, 15
Paint and paint materials
, ___
6, 26
Panama Canal traffic.
,_
_ _ ..
23
Paper and products and pulp
2
3, 4, 6, 12, 13, 14, 15, 18, 36, 37
Passports issued
___,
..
24
Payrolls, indexes
12
Personal consumption expenditures
,
1,9
Personal income
1
Personal saving and disposable income-_____
1
Pages marked S
Petroleum and products
2,
3, 6, 12, 13, 14, 15, 19, 22, 35, 36
Pig iron
33
Plant and equipment expenditures
2, 19
Plastics and resin materials
.
26
Plywood
32
Population
n
Pork
29
Postal savings
16
Poultry and eggs
2, 5, 29
Prices (see also individual commodities):
Consumer price index.
.......
6
Received and paid by farmers
, .
5
Retail price indexes
6
Wholesale price indexes
6
Printing and publishing
2,3, 12, 13, 14, 15,37
Profits, corporation_____
.__,
1, 18, 19
Public utilities..
__
__
_
2,6,
7, 11, 13, 14, 15, 18, 19, 20, 26, 27
Pullman Company
...
.
24
Pulp and pulpwood
35
Pumps
34
Purchasing power of the dollar
. __
6
Radiators and convectors
. ___
34
Radio and television
3, 6, 8, 34
Railroads
2, 11,12,13,14,15,19,20,23,40
Railways (local) and bus lines
- 11, 13, 14, 15, 23
Rayon and rayon manufactures- _
39
Real estate
8, 16, 18, 19
Receipts, United States Government
_. _
17
Recreation
6
Refrigerators, electrical
•_,
.
34
Rents (housing), index..
6
Retail trade, all retail stores, chain stores (11
stores and over only), general merchandise,
department stores
3, 5, 9,10,11,13,14,15, 17
Rice
„______
28
Roofing and siding, asphalt
36
Rubber (natural, synthetic, and reclaimed),
tires and tubes
6, 22,37,38
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
.
_ . _ . 1,9, 11, 13, 14, 15
Sewer pipe, clay
,_
.
38
Sheep and lambs
29
Ship and boat building
12, 13, 14, 15
Shoes and other footwear-.. 6, 9, 10, 12, 13, 14, 15, 31
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) _
11
Stocks, dividends, prices, sales, yields, listings.
20
Stone and earth minerals
3
Stone, clay, and glass products
2,
3,4, 12, 14, 15,19,38
Stoves
,__
. _ _ _
34
Sugar
22,30
Sulfur
_.
25
Sulfuric acid
24
Superphosphate
25
Tea
30
Telephone, telegraph, cable, and radio-telegraph carriers
11, 13, 14, 15,20,24
Television and radio
...
3, 6, 8, 34
Textiles
2,3,
4, 6, 12, 13, 14, 15, 18, 22, 39, 40
Tile
38
Tin
22,33
Tirea and inner tubes
6, 9, 10, 12, 13, 14, 15, 38
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, 6, 9, 11, 12, 13, 14, 15, 19, 23, 40
Travel....
24
Truck trailers
40
Trucks
.
_ _ 2,40
Unemployment and compensation
11,13
United States Government bonds
16, 18, 19, 20
United States Government finance , _ _ _ _
17
Utilities. _ _ . . _ _ _ - - .
.
2,
6, 7, 11, 13, 14, 15, 19, 20, 26, 27
Vacuum c l e a n e r s . _ _ _ _ _ _ _ _ _ _ _ _ _ _
Variety stores
Vegetable oils
Vegetables and fruits
___.
Vessels cleared in foreign trade
Veterans' benefits..._.._.
.
34
9, 10
25, 26
5,6, 22, 28
23
13,17
Wages and salaries...__.
1,14, 15
Washers....
.
34
Water heaters._._.__
...
34
Wax
-._......
36
Wheat and wheat
flour
28, 29
Wholesale price indexes
6
Wholesale trade
3,5,11, 13,14,15
Wood pulp
36
Wool and wool manufactures.
2,5,6, 22, 39, 40
Zinc.
33
UNITED STATES
GOVERNMENT PRINTING OFFICE
PENALTY FOR PRIVATE USE TO AVOID
PAYMENT OF POSTAGE, $3OO
(GPO)
DIVISION OF PUBLIC DOCUMENTS
WASHINGTON 25, D. C,
OFFICIAL BUSINESS
First-Class Mail
lummaru for 1955
MAJOR BUSINESS INDICATORS, 195O-55
Item
1950
1951
1952
1953
1954
285.1
194.0
51.2
-2.2
328.2
208.3
56.9
.2
345. 2
218.3
49.6
-.2
364.5
230.6
51.4
—2.0
360.5
236.5
47.2
—.3
387.2
252.3
59.3
—.4
42.0
240.0
62.8
277.0
77.5
289.5
84.5
303.6
77.0
299.7
75.9
322.3
Personal Income
Total (bil. of dol.)
Wage and salary disbursements, total. _
Commodity-producing industries
Distributive industries
Service industries
Government.
.^
_
Other labor income
Proprietors' and rental income
Personal interest income and dividends.
Transfer payments
Less personal contributions for social
227.1
146.5
63.5
41.3
19 5
22.2
3.8
44.6
19.8
15 1
271.1
185.2
80.6
48.7
23 0
32.9
5.3
49.9
21.3
13 2
286.2
198.6
88.2
51.8
24 8
33.8
6.0
48.4
23.1
14 0
287.6
196.2
84.2
52.3
25.9
33.8
6.6
48.4
24.7
16.2
303.3
208.5
90.5
55.1
27 6
35.3
7.0
49.1
26.8
17 2
9 0
255.3
170.8
74.9
45.8
21.3
28.8
4.8
49.9
20.7
12 6
o 4
q o
30
Total nonagricultural income (bil. of dol.).
210.5
235.7
253.1
270.2
4. 5
271.9
52
288.4
New Plant and Equipment Expenditures
All industries, total (mil. of dol.)
Manufacturing
Durable-goods industries
Nondurable-goods industries
Mining
Railroads.
_ _
_
Transportation, other than rail
Public utilities __
Commercial and other. .
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
26, 493
11 632
5,614
6,018
985
1,396
1,500
3 887
7,094
28,322
11 908
5,648
6,260
986
1,311
1, 565
4,552
8,000
26, 827
11,038
5,091
5,948
975
854
1,512
4,219
8,230
28,268
11,320
5,418
5,902
933
929
1,598
4,378
9,110
National Income and Product
Gross national product, total (bil. of dol.)_
Personal consumption expenditures
Gross private domestic investment
Net foreign investment
Government purchases of goods and
services
National income (bil. of dol.)
Manufacturing and Trade Sales,
Inventories, and Orders
Sales, total (bil. of dol.) §
_
Manufacturing, total
Durable-goods industries
Nondurable-goods industries
Wholesale trade, total
Durable-goods establishments
Nondurable-goods establishments
Retail trade, total §
Durable-goods stores. _
Nondurable-goods stores
Inventories, book value, end of year,
U955
560.7
280.8
133.6
147.2
109.3
34.8
74.5
170.7
58.2
112.5
620.1
317.0
157.9
159.0
117.6
39.6
78.0
185.5
67.0
118.5
tff f>
ft 7
TQ 1
43.5
Manufacturing, total
44.0
34.5
43.0
46.2
Durable-goods industries
24.0
16.8
22 8
24.4
26.4
19.5
Nondurable-goods industries
_
17.8
20.2
19.8
19.6
Wholesale trade, total
10.5
11.6
11.1
11.3
11.7
5.5
Durable-goods establishments
5.5
56
4.9
57
6.1
5.8
Nondurable-goods establishments
5.6
5.5
6.0
20.7
Retail trade, total §
20.2
19 9
21.2
18 7
9.2
9.2
Durable-goods stores
8.2
9.0
9.9
Nondurable-goods stores.
10.5
11.4
10.9
11.1
11.3
Manufacturers' orders (mil. of dol.):
New (net), total
251, 756 294, 132 282,987 281, 067 268,297
Durable-goods industries
,
.
123, 776 152, 095 140, 250 133, 075 120, 702
Nondurable-goods industries
127, 980 142, 037 142, 737 147, 992 147, 595
Unfilled, end of year, unadjusted
41, 126 67,553 76,343 58,987 46,529
fin &
46.1
26.2
19.9
12.3
6.1
6.2
22.4
10.4
12.0
479.0
231.4
105.6
125.8
103.9
34.2
69.7
143 7
52.9
90 8
539.1
267. 7
124. 5
143.2
113.2
37.6
75.5
158 2
54 5
103 7
04
Nondurable-goods industries
Prices
Prices received by farmers (1910-14=100)
Prices paid by farmers, all commodities
and services, interest, taxes, and wage
rates (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
>.
1 A-i
550.6
274.2
131.2
143.0
112.3
36.0
76.4
164 1
55.3
108 8
70 17ft
581.1
298.4
149.6
148.8
111.9
37.1
74.8
170 7
60.4
110 4
K/J £70
XO 7QfJ
325, 895
166,245
159,650
55,524
eo -ICK
2,739
3,359
258
249
237
287
100
113 5
279
92
114 4
281
89
114 8
281
84
114 6
111.6
107.0
108.8
113.2
110.1
97.0
104.6
114.0
110.3
95.6
105.3
114.5
a 110. 7
» 89. 7
3
101. 7
2
117. 0
4,576
3,412
3,167
258
302
288
256
101
102.8
282
107
111 0
103.1
97.5
99.8
105.0
114.8
113.4
111.4
115.9
2,314
Item
Production
Farm marketings, physical volume, total
(1935-39=100)
_
Crops...
Livestock and products
_
Industrial prod., total (1947-49=100)
Durable manufactures
Nondurable manufactures
Minerals
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
(thous.)
Passenger cars
_
Trucks and coaches
1950
145
141
1951
1952
1953
1954
U955
147
112
146
137
153
120
153
146
158
124
160
156
163
134
161
149
170
125
116
111
105
128
114
115
136
114
114
163
118
116
137
116
111
3 163
1 150
* 172
139
140
155
126
122
516, 311 533,665 466,841 457,290 392, 000
1,974
2,248
2,357
2,290
2,316
469,400
3
2 263
388, 674 433,358 463,055 514, 169 544,645
38,902 37, 515 37, 462 36, 742 36, 713
624 902
39 105
96 836 105,200
8,003
6,666
1,337
6,765
5,338
1,427
Construction
28,454 31, 182
New construction, total (mil. of dol.)
Private, total
21,454 21,764
12, 600 10, 973
Residential (nonfarm)
Nonresidential, except farm and pub3,777
5,152
lic utility
Public, total
7,000
9,418
2,384
3,497
Nonresidential building
2,272
Highway
2,518
Employment Status of the Noninstitutional Population
Total 14 years old and over, monthly
110,929 112, 075
average (thous. of persons) 9
Labor force, incl. Armed Forces, total 9 _ 64, 749 65, 983
Civilian labor force 9
- 63, 099 62, 884
59 957 61 005
7,507
7,054
Agricultural employment 9 _.
Nonagricultural employment 9 ~3 142
TJnemployed
1 879
Not in labor force 9
- - 46, 181 46, 092
Employment and Payrolls
Employees in nonagricultural establish44, 738 47, 347
ments, mo. avg., total (thous.)
Manufacturing
«
14, 967 16, 104
Mining
889
916
2,333
Contract construction
2,603
3,977
Transportation and public utilities
4,166
9,645 10, 012
1,824
Finance, insurance, and real estate
1,892
5 077
5 264
Government
6,026
6,389
Production and related workers, all mfg.:
Employment index (1947-49=100)
. 99.6
106.4
111.7
Payroll index (1947-49=100)
129.8
Finance
Consumer credit (short- and intermediate-term), outstanding, end of year:
Total (mil. of dol.)
20, 813 21,468
Installment (mil. of dol.)
_ 14,490 14, 837
Federal finance (mil. of dol.):
256, 708 259, 419
Gross debt (direct), Dec. 31
Budget receipts and expenditures:!
37 306 52 979
31, 906 47, 212
Income and" employment taxes
37,728 56, 337
Expenditures, total
13, 476 30, 275
National security J
Money supply, Dec. 31 (mil. of dol.):
27,741 29,206
Currency in circulation
Deposits (adjusted) and currency, total 176, 917 185, 984
92,272 98, 234
Demand deposits, adjusted...
59, 247 61, 447
Time deposits
Currency outside banks
. 25, 398 26, 303
Foreign Trade
10,275 15, 032
Export, incl. reexports (mil. of dol.)
8,852 10, 967
General imports (mil. of dol.)
'
•ttyc
•JOfl
93,168 111,610
88 312
117 036
5,539
4,321
1,218
7,323
6,117
1,206
6,601
5,559
1,042
9,169
7,920
1,249
33,008
22, 107
11, 100
35,271
23, 877
11,930
37, 577
25,768
13, 496
42,250
30, 25C
16, 60C
5,014
10, 901
4,136
2,820
5,680
11,394
4,346
3,160
6,250
11, 809
4,641
3,750
7,624
12, OOC
4, 22£
4, IOC
113, 270 115,095 116,219
66, 560 67, 362 67, 818
62, 966 63, 815 64, 468
61 293 62 213 61 238
6,562
6,805
6,504
54,734
54,488
1 602 3 230
1 673
46, 710 47, 732 48,401
117,38£
68, 89e
65,84*C
63 19
6,73(
56, 4&
2 6&f
48, 495
48,303
16, 334
885
2,634
4,185
10, 281
1,967
5 411
6,609
49,681
17,238
852
2,622
4,221
106.3
136.6
111.8
151.4
101.8
137.7
2 105. (
3 152. 1
25,827
18,684
29,537
22,187
30, 125
22, 467
36,22
27,89,
267, 391 275, 168 278,750
280, 76'
63 841
57, 743
72, 997
44,465
61 171
57, 189
64, 854
42, 821
63 35
58, 55i
66, 12
40,50
30, 433 30, 781 30,509
194, 801 200, 917 209, 684
101, 508 102, 451 106, 550
65,799 70, 375 75,282
27,494 28,091 27,852
31,15
215, 70
109, 70^
78,20
27,90
15, 095
10, 210
15,47
11,36
64 840
58,734
70, 682
43, 176
15, 201
10, 717
2,038
5 538
6,645
15, 774
10, 873
48, 285 2 49, 39*
15, 989 2 16,2 551
770
74i
2,527 22,501
4,008 2 *4,051
10, 498
10, 721
2, 114 * 2, 19.
5 629 a 5 69<
6,751 36,92
1
2
3
Data for most items are preliminary.
Calculated by the Office of Business Economics.
For 11 months, January-November.
§New series on retail trade: Sales beginning 195
and inventories beginning December 1950. Data on old basis and comparable with earlier figures are as follows (bil. of dol.): Sales for 1951—total, 533.8; total retail, 153.0; durable, 53.2; rioc
durable, 99.8; inventories for December 1950—total, 63.4; total retail, 18.4; durable, 8.4; nondurable, 10.0.
9 Data for 1954-55 not strictly comparable with earlier data due to change in sampl
and estimating procedures,
tData beginning 1954 are on a budgetary basis and are not strictly comparable with earlier figures. JPrior to 1954, data are for national defense and relate"
http://fraser.stlouisfed.org/
activities.
Federal Reserve Bank of St. Louis
@FedFRASER