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February 1990 / Volume 70 Number
SURVEY OF CURRENT BUSINESS
U.S. Department of Commerce
Bofcert A; Mosbaeher / Secretary
Mieliael $; Darby / Undersecretary
;", for Economic Affairs
1
Business Situation
2
Improving the Quality of Economic Statistics
3
National Income and Product Accounts Tables
3
17
Selected NIPA Tables
Reconciliation and Other Special Tables
19
Composite Indexes of Leading, Coincident, and
Lagging Indicators
Allan H,T#ung / Director
Carol S. Carson / Deputy Director
20
Federal Fiscal Programs
Editor-in-Chief: Carol p, Carson
Managing Editor: Leland L.Scott
26
State and Local Government Fiscal Position in 1989
29
A Guide to BEA's Statistics on Foreign Direct
Investment in the United States
39
A User's Guide to BEA Information
Bureauof Economic Analysis
Staff Contributors to This Issue: Douglas B.
Fox, Shelby A. Herman, Barbara W. Howenstine,
National Incc&ie and Wealth Bivision, Alicia M.
Quijano, James E. Rankin, Charles S. Robinson,
David E S»lBvan, Joseph a Wakefield.
SUBVBY OF CURRENT BUSINESS.
Published
monthly by the Bureau of Economic Analysis of the
0,S, Department of Commerce. Editorial correspondence should be addressed to the Editor-inChief, SURVEY OF CURRENT BUSINESS, Bureau of Economic Analysis, U.S. Department of Commerce,
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The Secretary of Commerce has determined
that the publication of this periodical is necessary
in the transaction of the public business required
by law of this Department
Blue pages: Current Business Statistics
(See page S-36 for subject index to Current Business Statistics)
Inside back cover: BEA Information
NoTE.-TIiisissueof the SURVEY went to the printer on March 9,1990. It
incorporates data from the following monthly BEA news releases:
" V, '"• •-"'•' / ; ; '.' • Gi^sNatic^
v//:;:;^v}^v;C;;;'jFeiBoiial Income aiid 0^^
Composite Indexes^of Leading, Coincident, and Lagging
Indicators (Mar; 2),
the BUSINESS SITUATION
.PRELIMINARY estimates show that
real GNP—a measure of U.S. production—increased at an annual rate of
0.9 percent in the fourth quarter of
1989, an upward revision from the 0.5percent rate of increase reported in the
advance estimates issued a month ago.
Real gross domestic purchases—a measure of U.S. demand—increased at an
annual rate of 0.1 percent in the fourth
quarter, a downward revision from the
0.9-percent rate of increase reported a
month ago. The difference in the revisions in the two estimates results from
a sharp upward revision in net exports,
a component that is included in GNP
but not in gross domestic purchases.
Revisions in prices were quite small:
The GNP price index (fixed weights)
NOTE.—Quarterly estimates in the national income and product accounts are expressed at seasonally adjusted annual rates, and quarterly
changes are differences between these rates.
Quarter-to-quarter percent changes are compounded to annual rates. Real, or constantdollar, estimates are expressed in 1982 dollars.
was revised down 0.2 percentage point
to an annual rate of 3.6 percent, and
the gross domestic purchases price index (fixed weights) was revised down
0.1 percentage point to 4.0 percent.1
Although the third-quarter revision
in real GNP was relatively small, revisions in several of the major components were large. Net exports was revised up $13.6 billion; fixed investment
and inventory investment were revised
down $6.2 billion and $6.4 billion, respectively (see table 1 on page 17).
Within net exports, a $5.2 billion
upward revision in exports stemmed
from upward revisions in both goods
(largely in the consumer goods and
"other" goods categories) and services
(in investment income). An $8.5 billion downward revision in imports was
1. The regularly featured estimates of real GNP and
GNP prices are based on 1982 weights. Alternative
measures based on more current weights are shown in
tables 3 and 4 on page 18.
Looking Ahead...
• Business Cycle Indicators. As part of a reprogramming (see page 2), BEA
plans to discontinue publication of the Business Conditions Digest and to put
a scaled-down presentation of its business cycle indicators in the SURVEY. The
SURVEY presentation, which will begin in the April issue, will include data
for over 250 series and charts for about 130 series that are widely used in
analyzing current cyclical developments.
Recruitment...
• Senior Level Positions. BEA is inviting applications for two senior
positions—Associate Director for Regional Economics and Associate Director
for International Economics. See page 25 for more information.
concentrated in goods (about one-half
in petroleum).
The downward revision in fixed investment was mainly in producers'
durable equipment (mostly in the information processing equipment and
"other" equipment categories). Residential investment was also revised
down (about one-half in multifamily
construction). The downward revision in inventory investment—that is,
change in business inventories—was
more than accounted for by a $9.0
billion downward revision in nonfarm
inventories (largely in manufacturing
inventories).
Among other GNP components, a
$3.3 billion upward revision in personal consumption expenditures was
more than accounted for by nondurables (mostly in gasoline and oil).
Impact of the revisions.—The broad
picture of the economy sketched in
last month's "Business Situation" was
not greatly altered by the revisions.
Real GNP and real gross domestic purchases both increased at a considerably
slower pace in the fourth quarter than
they had in the third.
The preliminary estimates do present a picture of a somewhat more balanced economy in the fourth quarter
than was indicated in the advance estimates. Personal consumption expenditures and net exports now show increases instead of declines, and the
increase in inventory investment is
smaller than was shown previously.
Fixed investment, however, is considerably weaker than was shown previously: Nonresidential investment now
shows a larger decline, and residential
investment now shows a slight decline
instead of an increase.
SURVEY OF CURRENT BUSINESS
February 1990
improving the Quality of Economic Statistics
On January 25,1990, the Chairman of the Council of Economic Advisers released a statement on "Improving the
Quality of Economic Statistics." This note summarizes
that statement and a similar one in the 1990 Economic
Report of the President (pages 281-285).
Last year the President established a Working Group on improving
economic statistics. It was chaired by the Chairman of the Council
of Economic Advisers, and its members included the Commerce Department's Under Secretary for Economic Affairs and representatives
of many of the other major producers and users of economic statistics in the Federal Government. The impetus for the Working Group
was the widespread concern expressed in recent years about economic
statistics—their quality, timeliness, accuracy, methodological soundness, comparability, and usefulness.
The Working Group developed a set of 25 recommendations for shortand long-term improvements. In doing so, it concentrated on setting
priorities to resolve the inevitable conflicts between various improvement goals, such as those between accuracy and timeliness. The recommendations focus on proposals that address well-known measurement errors, that are in areas important to public policy, that are costeffective, and that can be completed in a reasonable period of time.
The 25 recommendations include a number relevant to BEA's work
on national and international economic accounts, and these are indicated in the following list by italics.
Productivity, Output, and Prices
• Service Sector: Explore alternative methods for estimating
constant-dollar output; accelerate and rearrange timetable for
service sector improvements; expedite the compilation of inputoutput data; increase cooperation between the statistical establishment and academic researchers; and consider the efficacy of
mandatory versus voluntary surveys.
• International Trade: Accelerate improvements in estimates of
trade in services; extend efforts to reconcile import and export
data to Mexico, the European Community, South Korea, and
Japan; continue work to increase automation of export and import data collection; and increase the ease of access to trade data.
• Construction: Complete ongoing methodological and data collection improvements and incorporate these in the 1991 GNP revisions.
• Prices: Expand and seasonally adjust the employment cost index; and accelerate the Bureau of Labor Statistics programs to
expand and improve producer, consumer, and international price
indexes to measure service prices more accurately.
oncile differences between the various measures of saving] improve the collection, coverage, and processing procedures for the
financial flow data used in the Federal Reserve Board flow of
funds accounts; and undertake the proposed annual investment
survey at the Census Bureau.
• Inflation adjustments: Add supplementary series to the national
income and product accounts that separate the real and inflation
components of the return to capital. Currently this is done only
with the corporate profits series.
Employment, Income, and Poverty
• Family Income and Poverty: Begin research on developing a
new benchmark estimate of poverty appropriate to prices, consumption patterns, and family composition in the 1990's; and
continue publication of the experimental estimates of real family income and poverty.
• Business Establishments: Continue work toward the goal of
eliminating unnecessary duplication, but avoid the loss of unique
and important alternative data; and explore ways for the Census
Bureau to share its establishment data with the BEA, for use in
improving the national accounts.
• The Survey on Income and Program Participation: Explore
the possibility of carefully linking the data from the Survey
on Income and Program Participation (SIPP) to administrative
records, while taking great care to safeguard confidentiality.
• Labor Force: Continue the Bureau of Labor Statistics and Census Bureau efforts to improve and modernize the current population survey and the current employment statistics program; and
continue Bureau of Labor Statistics efforts to reconcile and reduce discrepancies between the employment series arising from
the household and the establishment surveys.
These recommendations are the basis for a multiyear initiative to
improve statistics. This initiative will build on improvement efforts already underway at BEA and the other statistical agencies. BEA has
reprogrammed funds during fiscal year 1990 to allow it to put more
resources into improvements. Under the reprogramming, BEA will discontinue the monthly Business Conditions Digest and put a scaled-down
presentation of its business cycle indicators in the SURVEY OF CURRENT
BUSINESS. It will also discontinue its econometric model, which has been
used to provide forecasts of the U.S. economy to agencies within the
Federal Government. The resources made available will be used to
strengthen work on the national economic accounts and on international investment surveys.
The fiscal 1991 budgets for BEA and the other statistical agencies
Investment, Saving, and National Wealth
include requests for additional funds to begin implementing some of
• The System of National Accounts (SNA): Revise the U.S. na- the recommendations. For BEA, the additional funds requested are for
tional income and product accounts to be consistent with the ma- four purposes: (1) To stop the deterioration in the quality of the U.S.
jor components of the United Nations system of national accounts, national economic accounts, using the funds to improve methodologies
which are used by most of the major industrialized nations of the and to develop and maintain source data in high-priority areas; (2) to
modernize and extend the U.S. national economic accounts, using the
world.1
• International Investment: Estimate direct investment using funds for the first phase of a U.S. move to the SNA; (3) to improve the
market values or replacement cost rather than historical cost and quality of the balance of payments estimates and related analyses, usaddress problems with the measurement of international portfolio ing the funds for work on the net international investment position and
services estimates; and (4) to improve the quality of the international
investment and other capital flows.
investment data, using the funds to prepare a computerized match of
• Domestic Investment and Saving: Accelerate work to improve data for foreign-owned companies with data for plants of those compameasures of investment and saving and to the extent possible rec- nies, to improve compliance with reporting requirements of BEA direct
investment surveys, and to strengthen the data and analysis in several
other ways.
1. An article about the SNA will appear soon in the SURVEY OF CURRENT BUSINESS.
SURVEY OF CURRENT BUSINESS
February 1990
National Income and Product Accounts Tables
Selected NIPA Tables
New estimates in this issue: Fourth quarter 1989.
The selected set of 54 national income and product accounts (NIPA) tables shown in this section presents quarterly estimates, which are updated
monthly. (In most of these tables, annual estimates are also shown.) The full set of 132 tables usually shown in July presents annual NIPA
revisions. For more information on the presentation of the estimates, see "National Income and Product Accounts Estimates: When They are
Released, Where They Are Available, and How They Are Presented" in the July 1988 SURVEY.
The full set of estimates for 1986-88 is in the July 1989 issue of the SURVEY; estimates for 1985 are in the July 1988 issue; estimates for
1984 are in the July 1987 issue; estimates for 1983 are in the July 1986 issue. Estimates for 1929-82 are in National Income and Product
Accounts, 1929-82: Statistical Tables (GPO Stock No. 003-010-00174-7, price $23.00). These publications are available from the Superintendent
of Documents; see address on inside front cover.
The full set of NIPA tables is available on diskette for $200 per year (12 updates, for the quarterly estimates prepared each month). For more
information, write to the Bureau of Economic Analysis (BE-54), U.S. Department of Commerce, Washington, DC 20230.
Table 1.1.—-Gross National Product
Table 1.2.—Gross National Product in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1988
m
Seasonally adjusted at annual rates
1989
1988
1989'
IV
I
II
1988
III
IV
Durable goods
Nondurable goods
Services l
"
HI
.. 4,880.6 5,233.3 4,926.9 5,017.3 5,113.1 5,201.7 5,281.0 5,337.6
Gross national product
Personal consumption expenditures "... 3,235.1 3,470.8 3,263.4 3,324.0 3,381.4 3,444.1 3,508.1 3349.3
469.1
455.2 473,1 452.5 467.4 466.4 471.0 486.1
1,052.3 1,123.5 1,066.2 1,078.4 1,098.3 1,121.5 1,131.4 1,142.8
1,727.6 1,874.1 1,744.7 1,778.2 1,816.7 1,851.7 1,890.6 1,937.4
i»
1988
1989'
1989
IV
I
m
II
IV
4,024.4 4,143.7 4,042.7 4,069.4 4,106.8 4,132.5 4,162.9 4,172.4
Gross national product
Personal consumption expenditures '... 2,598.4 2,669.4 2,608.1 2,627.7 2,641.0 2,653.7 2,690.1 2,692.6
Durable goods
Nondurable goods
Services '
,
, . ..
413.6 425.2 410.7 420.5 419.3 424.9 436.4 420.0
904.5 916.8 910.3 912.0 915.0 909.7 920.8 921.6
1,280.2 1,327.4 1,287.0 1,295.2 1,306.7 1,319.0 1,332.9 1,351.1
Gross private domestic investment
750.3
774.3
771.1
752.8
769.6
775.0
779.1
773.6
Gross private domestic investment
715.8
721.4
733.6
709.1
721.1
719.8
724.6
720.0
Fixed investment
Nomesidential
Structures ..
Producers' durable equipment
Residential
Change in business inventories
Nonfarm
719.6
487.2
140.3
346.8
232.4
30.6
34.2
-3.6
746.3
511.6
145.0
366.6
234.7
28.0
23.1
4.9
726.5
493.2
142.0
351.3
233.2
44.6
41.5
3.1
734.1
495.8
142.5
353.3
238.4
18.7
40.8
-22.2
742.0
503.1
144.7
358.5
238.8
27.7
19.1
8.6
747.6
512.5
142.4
370.1
235.1
27.4
23.6
3.8
751.7
519.6
146.2
373.4
232.1
27.4
19.8
7.5
744.0
511.2
146.6
364.6
232.8
29.5
30.0
-.4
Fixed investment
Nonresidential
,
Structures
Producers' durable equipment
Residential
Change in business inventories
Nonfarm .
Farm
687.9
493.8
122.2
371.6
194.1
27.9
30.7
-2.8
698.5
509.9
120.0
389.9
188.6
22.9
18.7
4.2
696.1
501.0
123.0
378.0
195.1
37.5
37.2
.3
690.8
492.7
121.4
371.3
198.1
18.3
31.9
-13.6
696.6
501.0
121.1
379.9
195.6
24.5
16.9
7.6
700.7
511.4
118.1
393.2
189.3
19.1
19.5
-.5
702.7
517.9
120.4
397.6
184.8
21.9
16.2
5.6
693.9
509.4
120.4
389.0
184.5
26.2
22.3
3.9
-73.7
-47.7
-66.2
-70.8
-54.0
-50.6
-45.1
-41.2
Net exports of goods and services '
-74.9
-52.9
-74.9
-73.8
-55.0
-51.2
-57.1
^18.2
547.7
621.3
625.3
673.0
556.8
623.0
579.7
650.5
605.6
659.6
626.1
676.6
628.5
673;6
641.0
682.2
530.1
605.0
588.9
641.8
531.9
606.9
551.4
625.2
569.7
624.6
587.5
638.7
593.1
650.2
605.4
653.5
785.1
805.8
775.9
806.4
799.7
810.3
805.3
807.9
328.9
261.5
67.4
456.2
336.8
256.5
80.3
469.0
319.8
258.8
61.0
456.1
343.9
261.6
82.3
462.5
335.5
254.4
81.1
464.2
343.6
255.8
87.8
466.7
336.1
260.1
76.0
469.2
331.9
255.6
76.3
476.0
Net exports of goods and services '......
Exports !
Imports '
...
Government purchases of goods and
services
*
Federal
National defense ..
Nondefense
State and local
968.9 1,036.0
381.3
298.0
83.3
587.6
402.9
302.2
100.7
633.1
958.6 1,011.4 1,016.0 1,033.2 1,038.9 1,056.0
406.4
300.5
105.9
604.9
367,5
296.1
71.4
591.0
399.0
298.7
100.4
617.0
406.0
301.3
104.7
627.2
402.7
307.8
94.9
636.2
404.0
301.2
102.8
652.0
Exports '
Imports '
.
Government purchases of goods and
services
Federal
National defense
Nondefense
State and local
,
,
,
1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.
1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.3.—-Gross National Product by Major Type of Product
Table 1.4.—Gross National Product by Major Type of Product in Constant
Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1988
HI
Gross national product
Final sales
Change in business inventories
Goods
Seasonally adjusted at annual rates
1989
1988
1989'
rv
I
II
1988
m
IV
..... 1,931.9 2,073.5 1,955.8 1,987.4 2,030.9 2,079.1 2,096.3 2,087.6
Final sales
..... 1,901.3 2,045.5 1,911.2 1,968.7 2,003.2 2,051.7 2,068.9 2,058.1
27.4
27.4
29.5
44.6
18.7
27.7
28.0
Change in business inventories........
30.6
Durable goods
Final sales
Change in business inventories
Nondurable goods
Final sales
Change in business inventories
Services
Structures
863.7
838.6
25.0
909.4
897.3
12.0
884.0
842.6
41.4
888.5
856.5
32.0
894.7
872.8
22.0
905.2
899.2
6.0
930.1
924.9
5.2
907.5
892.4
15.1
1,068.3 1,164.1 1,071.8 1,098.9 1,136.2 1,173.9 1,166.2 1,180.1
1,062.6 1,148.1 1,068.6 1,112.2 1,130.5 1,152.5 1,144.0 1,165.6
3.2 -13.3
21.4
22.2
14.5
5.7
5.6
15.9
2,499.2 2,700.9 2,520.3 2,570.0 2,620.8 2,667.5 2,728.1 2,787.3
449.5
458.9
450.8
459.9
461.3
455.1
456.6
462.8
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
III
4,880.6 5,233.3 4,926.9 5,017.3 5,113.1 5,201.7 5,281.0 5,337.6
4,850.0 5,205.4 4,882.3 4,998.7 5,085.4 5,174.3 5,253.6 5,308.1
27.4
27.4
44.6
18.7
27.7
29.5
30.6
28.0
1988
1989'
I
II
m
IV '
4,024.4 4,143.7 4,042.7 4,069.4 4,106.8 4,132.5 4,162.9 4,172.4
Gross national product
3,996.5 4,120.8 4,005.2 4,051.0 4,082.3 4,113.5 4,141.0 4,146.2
27.9
22.9
37.5
18.3
24.5
19.1
26.2
21.9
Final sales
Change in business inventories
Goods
1989
IV
,
Final sales
,
Change in business inventories
1,771.6 1,838.2 1,782.3 1,789.4 1,823.2 1,843.9 1,851.3 1,834.5
1,743.7 1,815.3 1,744.8 1,771.0 1,798.7 1,824.8 1,829.4 1,808.3
18.3
24.5
22.9
37.5
19.1
21.9
26.2
27.9
Durable goods
Final sales
Change in business inventories
883.6
860.9
22.7
913.5
903.7
9.7
900.8
863.4
37.3
900.5
872.4
28.1
902.3
884.2
18.1
913.0
908.0
5.0
931.3
927.2
4.2
907.3
895.6
11.7
Nondurable goods
,....
Final sales
Change in business inventories
888.0
882.8
5.2
924.7
911.6
13.2
881.5
881.4
.1
888.9
898.6
-9.7
920.9
914.5
6.4
930.9
916.8
14.1
920.0
902.3
17.7
927.2
912.7
14.5
Services
Structures
1,873.5 1,934.5 1,880.8 1,896.7 1,905.1 1,919.9 1,945.0 1,967.9
379.3
371.0
379.6
383.3
378.5
368.8
366.6
369.9
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
4
SURVEY OF CURRENT BUSINESS
February 1990
Table 1.5.—Relation of Gross National Product, Gross Domestic Purchases,
and Final Sales to Domestic Purchasers
Table 1.6.—Relation of Gross National Product, Gross Domestic Purchases,
and Final Sales to Domestic Purchasers in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1988
1988
1989'
ni
Gross national product
Less: Exports of goods and services
Plus: Imports of goods and services
Equals: Gross domestic purchases 2
Less: Change in business inventories
Equals: Final3sales to domestic
purchasers
1988
1989
IV
I
in
II
625.3
673.0
556.8
623.0
579.7
650.5
605.6
659.6
626.1
676.6
628.5
673.6
641.0
682.2
4,954.3 5,281.1 4,993.1 5,088.1 5,167.1 5,2523 5326.1 5378.8
30.6
28.0
44.6
27.7
18.7
27.4
27.4
29.5
4,923.7 5,253.1 4,948.5 5,069.5 5,139.4 5,224.9 5,298.7 53493
1988
III
IV'
4,880.6 5,233.3 4,926.9 5,0173 5,113.1 5,201.7 5,281.0 5337.6
547.7
621.3
1989 '
Gross national product
Less: Exports of goods and services
Plus: Imports of goods and services
1989
IV
I
III
II
IV
4,024.4 4,143.7 4,042.7 4,069.4 4,106.8 4,132.5 4,162.9 4,172.4
530.1
605.0
588.9
641.8
551.4
625.2
531.9
606.9
569.7
624.6
587.5
638.7
593.1
650.2
605.4
653.5
Equals: Gross domestic purchases 2..... 4,099.3 4,196.5 4,117.6 4,143.2 4,161.8 4,183.7 4,220.0 4,220.6
Less: Change in business inventories
Equals: Final sales to domestic
purchasers3
27.9
22.9
37.5
18.3
24.5
19.1
21.9
26.2
4,071.4 4,173.6 4,080.1 4,124.9 4,137.3 4,164.7 4,198.2 4,194.4
1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.
2. Purchases in the United States of goods and services wherever produced.
3. Final sales in the United States of goods and services wherever produced.
1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.
2. Purchases in the United States of goods and services wherever produced.
3. Final sales in the United States of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.7.—Gross National Product by Sector
Table 1.8.—Gross National Product by Sector in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1988
1988
1989'
ni
Gross national product
Gross domestic product
Business
Nonfarm
Nonfarm less housing
Housing
Farm
Statistical discrepancy
1988
1989
IV
I
II
III
ni
IV
4,880.6 5,233.3 4,926.9 5,0173 5,113.1 5,201.7 5,281.0 5337.6
4,847.3 5,198.8 4,894.7 4,982.9 5,078.5 5,170.8 5,247.4 5,298.6
4,153.5 4,447.6 4,194.7 4,271.1 4,347.2 4,426.7 4,489.0 4,527.4
4,087.1 4,385.2 4,119.6 4,225.5 4,280.0 4,356.0 4,431.3 4,473.3
3,685.6 3,953.3 3,714.7 3,813.5 3,862.7 3,932.5 3,992.9 4,025.2
401.5 431.8 404.9 412.0 417.2 423.5 438.5 448.1
91.3
89.0
83.2
79.7
83.7
62.3
76.1
85.8
-23.4
-24.1
-25.5
-8.6
-16.6
-18.3
-25.5
-9.6
Gross national product
Gross domestic product
Business
Nonfarm
Nonfarm less housing
Housing
Statistical discrepancy
1989
1988
1989'
IV
I
II
in
IV
4,024.4 4,143.7 4,042.7 4,069.4 4,106.8 4,132.5 4,162.9 4,172.4
3,996.3 4,115.8 4,015.6 4,040.8 4,078.5 4,1073 4,135.9 4,141.4
3,482.9 3,587.3 3,499.7 3,521.7 3,555.7 3,580.7 3,605.1 3,607.7
3,418.2 3,528.5 3,435.5 3,474.2 3,494.5 3,518.6 3,549.7 3,551.0
3,127.9 3,232.2 3,144.3 3,181.7 3,200.8 3,223.1 3,252.6 3,252.2
290.3 296.3 291.2 292.5 293.8 295.5 297.1 298.8
71.4
72.7
61.2
76.9
76.0
77.7
80.8
77.0
-7.2
-20.4
-8.0
-18.8
-14.8
-13.7
-19.7
-20.5
Households and institutions
Private households
Nonprofit institutions
188.0
9.4
178.7
210.6
9.6
201.0
190.8
9.4
181.4
195.5
9.5
186.0
201.2
9.5
191.7
207.1
9.6
197.5
2K4
9.7
204.7
219.7
9.7
209.9
Households and institutions
Private households
Nonprofit institutions
137.3
8.8
128.4
146.3
9.0
137.4
139.0
8.9
130.2
140.5
8.9
131.6
142.7
8.9
133.8
145.4
8.9
136.5
148.0
9.0
139.0
149.2
9.0
140.2
Government
Federal
State and local
505.8
159.3
346.5
540.6
169.6
371.0
509.2
159.8
349.4
516.3
160.8
355.5
530.1
168.3
361.8
536.9
169.1
367.9
544.0
170.1
373.9
551.5
171.1
380.4
Government
Federal
State and local
376.1
125.2
250.9
382.1
126.9
255.2
376.8
125.3
251.5
378.6
126.0
252.7
380.1
126.4
253.7
381.2
126.5
254.7
382.7
127.0
255.7
384.5
127.6
256.9
333
34.5
323
34.5
34.5
31.0
33.5
39.0
28.1
27.9
27.1
28.5
28.3
25.2
27.0
31.0
Rest of the world
Gross domestic business product less
3,744.3
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Rest of the world
Addendum:
Addendum:
Gross domestic business product less
housing
3,183.7
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
SURVEY OF CURRENT BUSINESS
February 1990
Table 1.14.—National Income by Type of Income
Table 1.9.—Relation of Gross National Product, Net National Product, National
Income, and Personal Income
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1988
1989 '
1988
III
1988
m
1989
IV
I
II
III
IV
4,880.6 5,233.3 4,926.9 5,017.3 5,113.1 5,201.7 5,281.0 5,337.6
Gross national product
Less: Capital consumption allowances
with capital consumption adjustment ..
Capital consumption
allowances without capital
consumption adjustment
Less: Capital consumption
adjustment
552.3
515.2
524.1
533.0
541.0
526.4
539.1
528.9
531.3
532.7
533.6
544.8
545.4
12.8
-13.2
13.6
7.1
-.3
-7.3
-20.5
--24.5
513.6
565.2
569.9
4,367.1 4,681.1 4,411.7 4,493.2 4^80.1 4,660.8 4,715.7 4,767.7
Equals: Net national product
Less: Indirect business tax and nontax
liability
Business transfer payments
Statistical discrepancy
.....
393.5
29.0
-9.6
416.9
31.8
-23.4
397.0
29.4
-8.6
402.7
30.1
-16.6
407.7
30.8
-24.1
413.4
31.5
-18.3
421.5
32.2
-25.5
424.8
32.9
18.5
9.1
11.8
20.4
19.5
15.5
-.3
1.8
Plus: Subsidies less current surplus of
3,972.6 4,264.9 4,005.7 4,097.4 4,185.2 4,249.6 4,287.3
Equals: National income
Less: Corporate profits with inventory
valuation and capital consumption
adjustments
. ...
Net interest
Contributions for social
insurance
Wage accruals less
disbursements
Plus: Government transfer payments to
persons
Personal interest income
Personal dividend income
Business transfer payments
Equals: Net national product
Less: Indirect business tax and nontax
liability plus business transfer
payments less subsidies plus current
surplus of government enterprises.......
Statistical discrepancy
Equals: National income
2,907.6 3,144.3 2,935.1 2,997.2 3,061.7 3,118.2 3,171.9 3,225.6
446.5 476.9 449.6 456.3 466.9 473.5 480.2 487.0
1,982.5 2,154.1 2,002.6 2,048.9 2,093.8 2,135.3 2,174.5 2,212.9
Supplements to wages and salaries
Employer contributions for social
insurance
Other labor income
Proprietors' income with inventory
valuation and capital consumption
adjustments
Farm
Proprietors' income with
inventory valuation adjustment....
Capital consumption adjustment
,
Equals: Gross domestic purchases
Plus: Command-basis net exports of
goods and services
Command-basis exports ' ..„
Imports
Equals: Command-basis gross
national product
492.0
501.0
509.4
517.2
525.8
251.8
231.1
255.6
236.5
259.7
241.3
263.4
246.0
266.6
250.7
270.4
255.3
327.8
352.4
327.0
328.3
359.3
355.5
343.3
351.4
39.8
46.4
37.7
32.0
59.0
51.3
36.1
39.5
47.3
-7.5
53.7
-7.2
45.0
-7.4
39.2
-7.2
66.2
-7.2
58.4
-7.1
43.5
-7.5
46.6
-7.1
288.0
259.2
-1.5
30.3
305.9
280.4
-1.3
26.8
289.3
260.4
-1.6
30.5
296.3
267.8
-1.3
29.8
300.3
274.4
-2.5
28.5
304.2
278.7
-1.9
27.4
307.2
281.0
311.9
287.3
0
-.7
26.2
25,2
295.2
471.5
478.4
444.6
479.2
448.2
455.2
469.7
476.4
482.0
488.6
Rental income of persons with
capital consumption adjustment
15.7
7.8
16.3
16.1
11.8
9.8
5.4
4.4
0
0
0
0
0
0
0
0
Rental income of persons
Capital consumption adjustment
65.4
-49.8
62.7
-54.9
65.8
^9.6
66.1
-49.9
62.9
-51.1
62.5
-52.7
63.8
-58.4
61.6
-57.2
555.7
571.1
102.2
29.0
600.4
657.8
112.4
31.8
558.0
576.3
103.6
29.4
563.7
598.6
106.4
30.1
585.6
629.0
109.4
30.8
595.3
655.1
111.4
31.5
604.2
667.8
113.2
32.2
616.6
679.5
115.7
32.9
307.8
295.2
4,024.4 4,143.7 4,042.7 4,069.4 4,106.8 4,132.5 4,162.9 4,172.4
480.2
508.4
482.7
488.1
493.5
498.9
518.6
522.4
3,544.2 3,635.3 3,559.9 3,581.2 3,613.3 3,633.6 3,644.3 3,650.0
327.8
334.0
329.2
331.2
331.3
331.8
335.5
-8.0
-18.8
-7.2
-13.7
-19.7
-14.8
-20.5
337.2
3,224.5 3,320.2 3,237.9 3,263.7 3,301.6 3,316.6 3,329.3
4,024.4 4,143.7 4,042.7 4,069.4 4,106.8 4,132.5 4,162.9 4,172.4
-74.9
530.1
605.0
-52.9
588.9
641.8
-74.9
531.9
606.9
-73.8
551.4
625.2
-55.0
569.7
624.6
-51.2
587.5
638.7
-57.1
593.1
650.2
-48.2
605.4
653.5
4,099.3 4,196.5 4,117.6 4,143.2 4,161.8 4,183.7 4,220.0 4,220.6
-71 7
533.3
6050
-455
596.3
641 8
-645
542.4
6069
-680
557.2
6252
-51 1
573.5
6246
-477
590.9
6387
-436
606.6
6502
-395
614.0
6535
4,027.5 4,151.0 4,053.1 4,075.2 4,110.7 4,136.0 4,176.5 4,181.1
1006
101 2
1019
101 1
1007
1007
1023
101.4
1. Exports of goods and services deflated by the implicit price deflator for imports of goods and services.
2. Ratio of the implicit price deflator for exports of goods and services to the implicit price deflator for
impons of goods and services with die decimal point shifted two places to the right.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
482.9
265.0
248.3
307.8
458.4
Addendum:
Terms of trade 2
513.3
249.7
228.9
316.3
436.1
[Billions of 1982 dollars]
Gross national product
478.6
340.2
415.7
Table 1.11.—Command-Basis Gross National Product in Constant Dollars
Less: Net exports of goods and
services
Exports
Imports
IV
2,429.0 2,631.0 2,452.2 2,505.1 2,560.7 2,608.8 2,654.7 2,699.9
Wages and salaries
Government and government
enterprises
Other
Corporate profits with inventory
valuation and capital consumption
adjustments
328.6
299.2
330.9
340.2
316.3
Corporate profits with inventory
valuation adjustment
281.8
269.9
284.1
298.7
279.7
275.5
268.7
Profits before tax
Profits tax liability
,
Profits after tax
Dividends
Undistributed profits
306.8
137.9
168.9
110.4
58.5
288.5
129.2
159.3
122.1
37.2
314.4
141.2
173.2
112.2
61.1
318.8
143.2
175.6
115.2
60.4
318.0
144.4
173.6
118.5
55.1
296.0
134.9
161.1
120.9
40.2
275.0
122.6
152.4
123.3
29.1
Inventory valuation adjustment
-25.0
-18.6
-30.4
-20.5
-6.3
Capital consumption adjustment
Less: Capital consumption allowances
with capital consumption adjustment ..
m
330.9
396.4
[Billions of 1982 dollars]
,
II
299.2
461.1
Table 1.10.—Relation of Gross National Product, Net National Product, and
National Income in Constant Dollars
Gross national product
I
3,972.6 4,264.9 4,005.7 4,097.4 4,185.2 4,249.6 4,287J
National income
Compensation of employees
Nonfarm
..
Proprietors' income
Inventory valuation adjustment
Capital consumption adjustment
1989
IV
328.6
392.9
4,064.5 4,427.9 4,097.6 4,185.2 4^17.8 4,400.3 4,455.9 4,537.4
Equals: Personal income
1988
1989'
Net interest ...
125.6
-9.4
-20.1
-38.3
46.8
29.4
46.9
41.5
36.6
32.3
26.5
22.0
392.9
461.1
396.4
415.7
436.1
458.4
471.5
478.4
190.7
170.0
189.7
196.9
171.9
172.9
172.6
402.0
392.8
400.7
411.5
388.6
391.7
399.3
80.3
48.0
77.6
81.7
53.4
52.0
49.3
Addenda:
Corporate profits after tax with
inventory valuation and capital
consumption adjustments
Net cash flow with inventory
valuation and capital
consumption adjustments
Undistributed profits with
inventory valuation and
capital consumption
adjustments
....
Capital consumption allowances
with capital consumption
adjustment
*
Less: Inventory valuation
adjustment
Equals: Net cash flow
321.7
344.9
323.1
329.7
335.2
339.7
349.9
354.8
-25.0
427.0
-18.6
411.5
-30.4
431.1
-20.1
431.6
-38.3
426.9
-20.5
412.2
-6.3
405.6
-9.4
6
SURVEY OF CURRENT BUSINESS
February 1990
Table 1.17.—Auto Output
Table 1.16.—Gross Domestic Product of Corporate Business in Current Dollars
and Gross Domestic Product of Nonfinancial Corporate Business in Current
and Constant Dollars
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1988
1989'
1988
m
1988
1989
IV
II
I
HI
Auto output
Capital consumption allowances with
capital consumption adjustment
Net domestic product
Indirect business tax and nontax
liability plus business transfer
payments less subsidies
Domestic income
Compensation of employees
Wages and salaries
Supplements to wages and
salaries . .
Corporate profits with inventory
valuation and capital
consumption adjustments
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment....
Capital consumption adjustment..
Net interest
Gross domestic product of
financial corporate business..
Gross domestic product of
nonflnancial corporate
business
Capital consumption allowances with
capital consumption adjustment
IV
I
II
III
IV
in | iv
Billions of dollars
Gross domestic product of
corporate business
1989
1988
1989'
2,955.0 3,140.4 2,982.8 3,048.6 3,078.6 3,126.1 3,168.5
321.7 344.9 323.1 329.7 335.2 339.7 349.9
2,633.3 2,795.5 2,659.6 2,718.9 2,743.4 2,786.4 2,818.6
354.8
278.6 295.8 281.9 284.8 288.5 293.1 300.2 301.3
2,354.7 2,499.7 2,377.8 2,434.0 2,454.9 2,493.3 2,518.4
1,951.2 2,104.4 1,969.5 2,012.0 2,050.6 2,087.7 2,122.3 z'i'is&s
1,640.5 1,775.8 1,656.0 1,691.9 1,730.2 1,761.6 1,791.2 1,820.2
310.7
328.6
313.5
320.0
320.4
326.1
331.2
285.0
263.2
137.9
125.3
84.2
41.1
-25.0
46.8
118.6
252.6
241.9
129.2
112.7
98.6
14.1
-18.6
29.4
142.8
285.9
269.3
141.2
128.1
95.9
32.3
-30.4
46.9
122.4
293.7
272.3
143.2
129.1
87.2
41.9
-20.1
41.5
128.4
269.7
271,5
144.4
127.1
102.0
25.0
-38.3
36.6
134.5
264.2
252.4
134.9
117.4
96.8
20.6
-20.5
32.3
141.4
249.5
229.3
122.6
106.6
99.0
7.6
-6.3
26.5
146.5
223.7
236.6
227.9
232.2
235.8
238.9
232.3
336.6
Final sales
Personal consumption expenditures
New autos
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
Net exports of goods and services
Exports
Imports
Government purchases of goods and
services
Change in business inventories of
new and used autos
New
Used
129.9
132.4
136.6
132.0
134.5
131.7
135.8
127.7
128.8
144.2
101.2
43.0
21.4
51.3
-29.9
-38.4
8.7
47.1
130.7
143.3
100.2
43.0
20.9
50.9
-30.0
-35.0
9.5
44.6
125.3
140.9
98.8
42.1
20.2
52.5
-32.3
-37.1
9.5
46.7
130.1
146.6
102.4
44.2
21.2
52.3
-31.1
-39.3
9.2
48.5
123.9
142.7
99.8
42.9
19.0
47.7
-28.7
-39.5
9.7
49.2
135.4
144.5
101.1
43.5
23.4
54.7
-31.3
-34.4
8.7
43.1
141.8
150.9
110.8
40.2
23.6
53.7
-30.1
-34.3
9.1
43.4
121.8
134.9
89.2
45.7
17.6
47.4
-29.9
-32.0
10.6
42.6
1.6
1.6
1.4
1.5
1.7
1.9
1.5
1.3
1.1
.5
.6
1.7
1.8
11.3
7.7
3.7
1.9
1.5
.4
10.5
11.1
-.5
-3.7
-3.9
.2
-5.9
-7.9
2.0
5.9
8.0
-2.1
101.6
60.8
104.4
58.9
105.9
60.2
107.6
58.5
106.9
57.2
107.1
60.4
102.9
62.6
100.6
55.3
Addenda:
Domestic output of new autos2 l
Sales of imported new autos
96.5
-9.4
22.0
148.6
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government
purchases.
Table 1.18.—Auto Output in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
2,731.3 2,903.8 2,754.9 2,816.4 2,842.7 2,887.2 2,936.2
297.1 317.2 298.1 303.6 308.4 312.2 321.9
2,434.2 2,586.6 2,456.8 2,512.8 2,534.4 2,575.0 2,614.3
1988
326.3
Net domestic product
Indirect business tax and nontax
liability plus business transfer
payments less subsidies
260.0 276.2 263.2 265.9 269.3 273.7 280.3 281.3
Domestic income
2,174.2 2,310.4 2,193.6 2,246.9 2,265.0 2,301.3 2,334.0
Compensation of employees
1,799.1 1,938.4 1,816.8 1,854.6 1,889.3 1,923.1 1,954.3 "iflK'i
Wages and salaries
1,511.2 1,634.2 1,526.2 1,558.1 1,592.5 1,621.2 1,647.8 1,675.1
Supplements to wages and
salaries
287.9 304.2 290.6 296.5 296.7 301.9 306.5 311.6
Corporate profits with inventory
valuation and capital
consumption adjustments
249.3 223.1 248.3 258.2 235.3 230.5 226.7
Profits before tax
233.4 217.5 237.7 242.2 242.2 223.8 211.5
Profits tax liability....
105.4
97.6 107.4 109.4 110.6 100.6
94.7
Profits after tax.
128.0 119.9 130.3 132.8 131.6 123.1 116.8
Dividends
95.4
92.6
86.4
93.7
96.0
917
83.0
98.3
29.4
Undistributed profits
45.0
24.5
37.7
46.5
33.3
20.8
Inventory valuation adjustment.... -25.0 -18.6 -30.4 -20.1 -38.3 -20.5
-9.4
-6.3
24.2
41.0
21.5
16.6
40.9
36.1
31.5
27.3
Capital consumption adjustment..
Net interest
125.8 149.0 128.5 134.0 140.4 147.6 152.9 155.1
Auto output .
Final sales
Personal consumption expenditures
New autos
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
Net exports of goods and services
Exports
Imports
Government purchases of goods and
services
Change in business inventories of
new and used autos
New
Used
1988
1989'
1989
HI
IV
I
II
m
IV
108.9
109.2
114.4
110.1
110.9
109.3
112.0
104.4
108.6
117.0
84.4
32.7
18.3
42.8
-24.5
-28.1
7.1
35.2
108.2
114.6
82.0
32.6
17.5
41.6
-24.1
-25.3
7.5
32.8
105.0
113.9
82.2
31.7
17.3
43.7
-26.4
-27.4
7.8
35.2
109.5
117.9
84.6
33.4
18.1
43.2
-25.1
-27.9
7.5
35.4
103.2
113.8
81.6
32.2
16.2
39.0
-22.8
-28.3
7.8
36.1
111.5
115.4
82.4
33.0
19.5
44.6
-25.0
-25.1
6.9
32.0
117.9
121.7
91.2
30.5
20.0
44.2
-24.2
-25.1
7.1
32.2
100.3
107.5
72.6
34.9
14.4
38.6
-24.2
-22.8
8.3
31.1
1.4
1.4
1.2
1.4
1.4
1.6
1.3
1.2
.4
-.1
.5
1.0
1.1
-.2
9.4
6.4
2.9
.6
.3
.3
7.7
8.2
-.5
-2.1
-2.2
.1
-5.9
-7.4
1.5
4.2
6.0
-1.8
84.5
50.7
84.7
48.1
88.1
50.1
88.6
48.3
86.9
46.7
87.1
49.2
83.6
51.5
81.2
45.0
Addenda:
Billions of 1982 dollars
Gross domestic product of
nonfmancial corporate
business
Capital consumption allowances with
capital consumption adjustment
Net domestic product
Indirect business tax and nontax
liability plus business transfer
payments less subsidies
Domestic income
Domestic output of new autos
'
Sales of imported new autos 2
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government
purchases.
2,419.5 2,478.9 2,434.1 2,453.2 2,459.1 2,471.3 2,497.2
279.3 292.8 280.6 283.2 285.9 288.8 296.7
2,140.2 2,186.1 2,153.6 2,170.0 2,173.2 2,182.5 2,200.4
299.8
209.2 213.2 210.1 211.9 211.3 211.8 214.4
1,931.0 1,973.0 1,943.5 1,958.1 1,961.9 1,970.8 1,986.0
215.1
February 1990
SURVEY OF CURRENT BUSINESS
Table 1.19.—Truck Output
Table 1.20.—Truck Output in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1988
1988
1989'
III
Truck output '
Final sales
Personal consumption expenditures
Producers' durable equipment
Net exports of goods and services
Exports
Government purchases of goods and
services
Change in business inventories
1988
1989
IV
I
II
III
66.3
66.0
63.8
71.2
70.3
68.1
65.9
29.2
36.7
-5.6
3.8
9.5
65.2
30.8
35.3
-6.4
3.5
10.0
65.9
29.1
36.6
-5.3
3.9
9.2
67.0
29.8
38.9
-6.9
3.7
10.5
65.5
30.3
35.7
-6.3
3.9
10,2
65.6
29.8
36.5
-6.3
3.1
9.4
5.7
5.6
5.5
5.2
5.8
.4
.7
-2.1
4.2
4.8
IV T
62.5
Truck output
l
62.9
69.2
34.0
36.2
-6.3
3.5
9.8
60.4
28.9
32.9
-6.9
3.6
10.4
5.7
5-4
5.4
Final sales
Personal consumption expenditures
Producers' durable equipment....
Net exports of goods and services
Exports
Imports....
Government purchases of goods and
services
2.6
-6.4
2.0
Change in business inventories
1988
1989 '
1989
HI
IV
I
II
III
IV
55.7
53.4
53.8
58.3
57.0
55.4
51.3
49.8
55.3
24.6
30.8
-4.7
3.2
7.9
52.8
25.1
28.5
-5.2
2.8
8.1
55.3
24.5
30.7
-4.5
3.3
7.7
54.9
24.8
31.6
-5.7
3.0
8.7
53.3
24.8
29.0
-5.1
3.2
8.3
53.5
24.4
29.6
-5.1
2.5
7.6
56.3
27.8
29.3
-5.2
2.8
8.0
48.3
23.3
26.2
-5.5
2.9
8.3
4.7
4.5
4.6
4.2
4.7
4.6
4.4
4.3
.3
.5
3.3
3.7
1.9
-1.6
-5.0
1.5
1. Includes new trucks only.
1. Includes new trucks only.
Table 2.1.—Personal Income and Its Disposition
Table 2.2.—Personal Consumption Expenditures by Major Type of Product
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1988
1988
1989'
ni
Personal income
Wage and salary disbursements
Commodity-producing industries
Manufacturing
Distributive industries
•.
Service industries
Government and government
enterprises
1988
1989
IV
I
m
II
2,429.0 2,631.0 2,452.2 2,505.1 2,560.7 2,608.8 2,654.7 2,699.9
696.3
524.0
571.9
714.4
738.2
552.9
615.0
801.0
701.6
527.2
578.0
723.0
714.7
538.1
587.5
746.7
726.6
546.3
598.8
768.4
733.7
549.9
610.8
790.8
742.6
555.7
619.4
812.4
749.8
559.6
630.8
832.3
446.5
476.9
449.6
456.3
466.9
473.5
480.2
487.0
Other labor income
228.9
248.3
231.1
236.5
241.3
246.0
250.7
255.3
Proprietors' income with
inventory valuation and capital
consumption adjustments
327.8
352.4
327.0
328.3
359.3
355.5
343.3
351.4
39.8
288.0
46.4
305.9
37.7
289.3
32.0
296.3
59.0
300.3
51.3
304.2
36.1
307.2
39.5
311.9
Nonfarm
Rental income of persons with
capital consumption adjustment...
Personal dividend income
Personal interest income
Transfer payments
Old-age, survivors, disability, and
health insurance benefits
Government unemployment
insurance benefits
„
Veterans benefits
Government employees retirement
benefits
Other transfer payments
.......
Aid to families with dependent
children
Other
Less: Personal contributions for
social insurance
Less: Personal tax and nontax
payments
m
IV
4,064.5 4,427.9 4,097.6 4,185.2 4317.8 4,400.3 4,455.9 4,537.4
1988
1989'
Personal consumption
expenditures '
1989
IV
I
II
III
IV r
3,235.1 3,470.8 3,263.4 3,324.0 3^81.4 3,444.1 3,508.1 3,549.3
Durable goods
455.2
Motor vehicles and parts
Furniture and household equipment ....
Other
Nondurable goods
211.6
162.0
81.6
1,052.3
Food .
Clothing and shoes .
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
559.7
186.8
76.8
229.0
19.5
209.5
Services '
1,727.6
Housing
Household operation
Electricity and gas
Other .
Transportation
Medical care
Other '
501.3
197.6
93.7
104.0
117.9
398.3
512.4
452.5
473.1
213.8
173.6
85.8
208.4
162.7
81.4
534.0
204.1
95.4
108.6
126.6
452.8
556.6
505.0
200.2
94.5
105.7
119.8
404.7
514.9
467.4
466.4
471.0
486.1
469.1
215.3
211.7
212.9
225.6 204.8
172.1
166.1
173.5
173.9
174.8
86.0
82.6
84.6
86.7
89.5
1,123.5 1,066.2 1,078.4 1,098.3 1,121.5 1,131.4 1,142.8
594.9 567.8 574.1
587.3 592.2 598.1
601.8
188.9
195.0
202.2 204.3
200.1
193.9
198.9
84.0
78.3
85.2
77.6
77.9
89.5
83.5
244.5 231.2
232.8 238.1
241.0
245.9 253.1
20.4
19.6
19.7
18.7
19.6
19.9
23.4
219.4
211.6
221.4
224.1
213.1
226.0 229.7
1,874.1 1,744.7 1,778.2 1,816.7 1,851.7 1,890.6 1,937.4
513.0
202.4
95.8
106.6
121.5
417.4
523.9
520.2
201.1
93.6
107.5
124.4
432.3
538.7
527.7
202.3
94.6
107.7
125.6
445.1
551.0
538.4
202.4
93.6
108.8
126.7
459.1
564.0
549.8
210.5
99.9
110.5
129.8
474.8
572.6
15.7
102.2
571.1
584.7
7.8
112.4
657.8
632.3
16.3
103.6
576.3
587.4
16.1
106.4
598.6
593.8
11.8
109.4
629.0
616.4
9.8
111.4
655.1
626.8
5.4
113.2
667.8
636.4
4.4
115.7
679.5
649.5
300.5
325.3
301.4
304.0
316.9
322.9
327.9
333.4
13.0
17.0
14.2
17.3
12.9
17,0
12.5
17.0
13.5
17.6
14.1
17.5
14.5
17.3
14.9
16.8
82.7
171.5
88.5
186.9
82.8
173.2
83.7
176.5
86.9
181.5
88.1
184.2
88.9
187.7
90.1
194.4
Table 2.3.—Personal Consumption Expenditures by Major Type of Product in
Constant Dollars
17.2
154.3
17.9
169.0
17.3
155.9
17.5
159.0
17.6
163.9
17.7
166.4
18.0
169.7
18.4
176.0
[Billions of 1982 dollars]
194.9
214.2
196.4
199.6
210.0
213.0
215.4
218.2
1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.
Seasonally adjusted at annual rates
1988
586.6
648.5
585.9
597.8
628.3
652.6
649.1
1988
1989'
664.0
III
1989
IV
I
II
m
IV '
Equals: Disposable personal income.... 3,477.8 3,779.4 3,511.7 3,587.4 3,689.5 3,747.7 3,806.8 3,873.4
Less: Personal outlays...
Personal consumption expenditures
Interest paid by consumers to
business
Personal transfer payments to
foreigners (net)
Equals: Personal saving
3,333.1 3,574.2 3,362.1 3,424.0 3,483.8 3,547.0 3,611.7 3,654.2
3,235.1 3,470.8 3,263.4 3,324.0 3,381.4 3,444.1 3,508.1 3,549.3
96.1
101.7
96.7
98.1
100.1
101.5
102.0
103.2
1.9
1.7
1.9
1.9
2.2
1.4
L6
1.7
144.7
205.2
149.6
163.4
205.7
200.7
195.1
219.2
Addenda:
Disposable personal income:
2,793.2 2,906.7 2,806.4 2,835.9 2,881.7 2,887.6 2,919.2 2,938.5
Total, billions of 1982 dollars..
Per capita:
Current dollars
14,116 15,189 14,235 14,504 14,884 15,084 15,280 15,504
1982 dollars
11,337 11,682 11,377 11,466 11,625 11,622 11,717 11,762
Population (mid-period, millions).... 246.4 248.8 246.7 247.3 247.9 248.5 249.1 249.8
Personal saving as percentage of
disposable personal income
42
5.4
4.3
4.6
5.6
5.4
5.1
5.7
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Personal consumption
expenditures '
2,598.4 2,669.4 2,608.1 2,627.7 2,641.0 2,653.7 2,690.1 2,692.6
Durable goods..
Motor vehicles and parts
Furniture and household equipment....
Other
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
Services1
Housing
Household operation
Electricity and gas
Other
Transportation
Medical care
Other '
413.6
179.2
164.8
69.6
904.5
425.2
410.7
420.5
177.9
177.1
70.2
176.2
165.3
69.2
180.6
168.0
71.8
419.3
176.1
174.8
68.4
915.0
424.9
436.4
420.0
177.0
178.5
69.4
188.4
177.4
70.6
170.0
177.6
72.4
369.6
163.4
80.7
82.7
96.3
289.0
388.3
371.7
164.4
81.4
82.9
97.1
293.1
392.7
916.8 910.3 912.0
909.7 920.8 921.6
462.1
462.8 461.9
466.0 461.4
463.2 460.5
164.1
164.6
168.9
165.0
165.8
173.3
171.5
98.2
97.4
97.2
97.6
96.5
96.6
98.3
187.2
187.8
187.0
186.0
187.6
186.5
191.3
24.4
26.6
25.3
24.0
24.7
25.3
28.1
160.5
162.4
162.5
161.5
162.9
163.2
161.7
1,280.2 1327.4 1,287.0 1,295.2 1,306.7 1,319.0 1,332.9 1,351.1
460.0
161.3
97.1
186.1
25.4
160.7
r
366.1
164.1
82.8
81.3
94.5
278.2
377.4
372.7
165.4
82.0
83.4
98.2
296.2
394.9
366.8
166.3
84.0
82.4
95.2
279.9
378.8
368.0
165.7
83.3
82.4
96.2
283.9
381.3
1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.
373.6
164.5
81.0
83.5
98.8
298.1
398.0
376.0
169.2
84.8
84.4
100.5
304.7
400.7
8
SURVEY OF CURRENT BUSINESS
February 1990
Table 3.2.—Federal Government Receipts and Expenditures
Table 3.3.—State and Local Government Receipts and Expenditures
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
1988
Receipts
Personal tax and nontax receipts
Income taxes
Estate and gift taxes
Nontaxes
.
Corporate profits tax accruals
Federal Reserve banks
Other
Indirect business tax and nontax
accruals
Excise taxes
Customs duties
Nontaxes
Contributions for social insurance
Expenditures
1989 '
1988
Seasonally adjusted at annual rates
1989
1988
III
IV
972.4 1,046.7
977.3
994.6 1,036.2 1,053.2 1,043.2
413.0
403.5
7.9
1.6
460.4
449.7
9.0
1.8
411.4
401.7
8.1
1.5
420.3
410.7
8.0
1.6
446.8
437.0
8.1
1.7
465.1
453.3
10.1
1.8
459.1
448.7
8.6
1.8
111.4
17.4
94.1
105.1
19.8
85.3
114.0
17.5
96.5
115.8
18.6
97.3
117.0
19.5
97.5
109.7
20.3
89.4
99.9
19.6
80.3
56.7
34.2
16.4
6.1
58.7
35.1
17.5
6.1
57.4
34.6
16.4
6.3
57.8
35.1
16.9
5.8
58.0
35.1
17.1
5.9
58.2
35.1
17.2
5.9
59.4
35.2
17.7
6.6
59.1
35.2
18.0
5.9
391.3
422.5
394.5
400.6
414.3
420.2
424.8
430.6
I
III
II
IV
Receipts
470.8
459.8
9.1
1.8
Personal tax and nontax receipts
Income taxes
Nontaxes
Other
Corporate profits tax accruals
Indirect business tax and nontax
accruals.
1,118.3 1,195.2 1,099.8 1,162.1 1,183.7 1,198.6 1,187.9 1,210.8
Sales taxes
Property taxes
Other
1989
1988
1989'
ni
IV
I
m
II
IV
701.6
746.4
706.0
716.5
732.6
742.6
750.3
173.7
188.1
174.5
177.5
181.5
187.5
190.0
193.2
88.5
70.3
14.8
97.4
74.9
15.7
88.6
70.9
15.0
90.3
72.0
15.1
92.9
73.2
15.3
97.6
74.3
15.6
98.7
75.5
15.8
100.4
76.7
16.1
26.5
24.1
27.2
27.4
27.4
25.2
22.8
336.8
358.2
339.7
344.9
349.7
355.3
362.1
365.7
160.5
131.0
45.2
170.8
140.3
47.1
161.7
132.3
45.7
164.8
134.5
45.7
166.8
136.8
46.1
169.4
139.1
46.7
173.1
141.4
47.5
173.8
143.7
48.1
53.3
56.7
53.7
54.6
55.4
56.2
57.1
58.1
Federal grants-in-aid
111.4
119.4
111.0
112.2
118.7
118.4
118.3
122.1
Expenditures
Contributions for social insurance
Purchases of goods and services
National defense
Nondefense.. . .
381.3
298.0
83.3
402.9
302.2
100.7
367.5
296.1
71.4
406.4
300.5
105.9
399.0
298.7
100.4
406.0
301.3
104.7
402.7
307.8
94.9
404.0
301.2
102.8
651.9
702.2
656.2
670.8
683.8
695.1
705.5
724.3
Purchases of goods and services
587.6
633.1
591.0
604.9
617.0
627.2
636.2
652.0
Transfer payments
To persons
To foreigners
438.2
425.4
12.9
472.6
459.0
13.6
438.0
426.3
11.7
447.6
429.4
18.2
460.4
448.9
11.5
466.9
455.7
11.1
475.6
461.6
14.1
487.6
469.7
17.8
Compensation of employees
Other
346.5
241.2
371.0
262.1
349.4
241.6
355.5
249.5
361.8
255.1
367.9
259.3
373.9
262.2
380.4
271.6
Transfer payments to persons
130.3
141.5
131.7
134.3
136.7
139.6
142.7
146.9
Net interest paid
-40.3
^2.7
^10.4
-41.1
-41.7
-42.3
-43.0
^3.6
Grants-in-aid to State and local
governments
111.4
119.4
111.0
112.2
118.7
118.4
118.3
122.1
Net interest paid
Interest paid
To persons and business
To foreigners
151.4
173.8
144.8
29.1
171.1
192.1
158.7
33.4
153.9
174.4
144.2
30.2
157.0
178.3
147.2
31.1
167.0
187.4
154.9
32.5
172.0
191.9
157.6
34.4
171.2
193.1
159.1
33.9
174.3
196.1
163.3
32.8
Less: Interest received by
government
Subsidies less current surplus of
government enterprises
Subsidies
Less: Current surplus of government
enterprises
.
Less: Wage accruals less
disbursements
22.4
21.0
21.2
20.5
20.4
20.0
21.9
21.8
36.0
28.9
29.2
27.0
29.4
17.6
38.9
35.9
38.5
34.2
35.3
28.5
20.1
18.3
22.8
27.0
-7.1
-2.2
-11.8
-3.0
-4.3
-6.8
-1.8
4.2
0
0
0
0
0
0
0
0
Surplus or deficit (-), national
income and product accounts ... -145.8 -148.5 -122.5 -167.6 -147.5 -145.4 -144.7
Social insurance funds.........
Other
64.1
54.8
58.2
63.6
62.7
63.7
64.3
-200.6 -212.7 -180.7 -231.2 -210.1 -209.1 -209.0
65.8
Interest paid
Less: Interest received by
government
59.9
65.9
60.7
62.2
63.7
65.1
66.6
68.1
100.2
108.5
101.1
103.3
105.4
107.5
109.6
111.7
Less: Dividends received by
government
8.3
9.7
8.5
8.8
9.1
9.5
10.1
10.0
Subsidies less current surplus of
government enterprises
Less: Wage accruals less
disbursements
Surplus or deficit (-), national
income and product
accounts
Social insurance funds
Other
-20.0
-17.6
-18.5
-20.4
-19.8
.8
.8
.8
.8
.8
.8
.8
18.3
20.8
18.3
19.3
19.8
20.6
21.1
21.7
0
0
0
0
0
0
0
0
49.7
44.3
49.8
45.7
48.8
47.5
44.9
71.1
-21.4
78.0
-33.8
72.1
-22.3
73.8
-28.1
75.4
-26.6
77.1
-29.6
79.1
-34.3
Table 3.7B.—Government Purchases of Goods and Services by Type
Table 3.8B.—Government Purchases of Goods and Services by Type in
Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1988
1989'
1988
m
Government purchases of
goods and services
Federal
National defense
,
Durable goods
Nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Structures
Nondefense
Durable goods
Nondurable goods
Commodity Credit Corporation
inventory change
Other nondurables
Services
Compensation of employees
Other services
Structures
State and local
Durable goods
Nondurable goods
Services
..
Compensation of employees
Other services
Structures
I
II
1988
m
80.5
Seasonally adjusted at annual rates
1989
rv
-21.0
-19.0
.7
-17.5
Subsidies
Less: Current surplus of government
enterprises
IV
968.9 1,036.0
958.6 1,011.4 1,016.0 1,033.2 1,038.9 1,056.0
381.3
402.9
367.5
406.4
399.0
406.0
402.7
404.0
298.0
83.9
10.9
196.1
113.2
76.0
37.2
82.9
7.0
302.2
81.9
11.2
202.5
119.8
79.3
40.5
82.8
6.6
296.1
83.7
10.5
194.7
113.0
76.2
36.9
81.7
7.2
300.5
85.1
11.1
197.4
113.7
76.2
37.6
83.6
7.0
298.7
82.7
10.8
198.8
119.1
79.1
40.0
79.8
6.3
301.3
82.8
11.7
200.5
119.4
79.0
40.4
81.2
6.3
307.8
84.5
11.0
205.4
120.0
79.3
40.7
85.4
6.8
301.2
77.6
11.3
205.4
120.6
79.6
41.0
84.8
6.8
83.3
4.6
-8.2
100.7
5.1
2.5
71.4
4.4
-19.8
105.9
4.9
11.0
100.4
5.2
3.8
104.7
5.3
5.9
94.9
4.9
-3.1
102.8
4.9
3.6
-15.6
7.4
80.0
46.1
33.9
6.8
-4.4
6.9
86.0
49.9
36.2
7.1
-25.9
6.1
79.7
46.8
32.9
7.1
4.1
6.9
83.6
47.1
36.5
6.5
-3.8
7.6
84.9
49.2
35.7
6.5
-1.0
6.9
86.6
49.7
37.0
6.9
-10.0
6.8
86.0
50.1
35.9
7.1
-2.8
6.4
86.5
50.5
36.1
7.8
587.6
633.1
591.0
604.9
617.0
627.2
636.2
652.0
29.4
46.9
442.1
346.5
95.6
69.3
32.8
52.6
475.5
371.0
104.5
72.3
29.8
47.5
446.0
349.4
96.6
67.7
30.6
48.3
453.9
355.5
98.4
72.2
31.5
50.6
463.2
361.8
101.4
71.6
32.3
52.4
471.3
367.9
103.5
71.1
33.1
52.7
479.3
373.9
105.4
71.0
34.1
54.5
488.0
380.4
107.7
75.4
Government purchases of
goods and services
Federal
National defense
Durable goods
Nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
;
Structures
Durable goods
Nondurable goods
Commodity Credit Corporation
inventory change
Other nondurables
Services
Compensation of employees
Other services
Structures
State and local
Durable goods
Nondurable goods
Services
Compensation of employees
Other services
;
Structures
.....
1989
1988
1989 '
m
IV
I
II
in
IV
785.1
805.8
775.9
806.4
799.7
810.3
805.3
807.9
328.9
336.8
319.8
343.9
335.5
343.6
336.1
331.9
261.5
84.6
14.3
156.9
89.1
60.0
29.1
67.8
5.7
256.5
82.3
14.2
155.0
89.7
59.6
30.1
65.4
4.9
258.8
84.3
13.4
155.4
88.7
59.9
28.7
66.8
5.8
261.6
85.0
14.7
156.4
89.1
59.8
29.3
67.3
5.4
254.4
82.1
13.9
153.5
89.5
59.7
29.8
64.0
4.8
255.8
82.8
14.5
153.7
89.4
59.5
29.9
64.3
4.7
260.1
84.3
14.1
156.7
89.8
59.6
30.1
67.0
5.1
255.6
79.9
14.5
156.2
90.0
59.7
30.3
66.2
5.0
67.4
5.4
-8.7
80.3
5.6
2.3
61.0
5.2
-14.7
82.3
5.6
3.9
81.1
5.7
3.6
87.8
5.8
9.1
76.0
-1.7
76.3
5.4
-2.0
-15.6
6.9
64.8
36.1
28.7
5.9
-3.8
6.0
66.6
37.2
29.4
5.9
-20.1
5.4
64.4
36.7
27.7
6.1
-2.2
6.0
67.4
36.9
30.5
5.5
-3.3
6.9
66.3
36.9
29.4
5.5
3.1
6.0
67.2
37.0
30.2
5.7
-7.7
5.9
66.3
37.3
29.0
5.9
-7.2
5.3
66.5
37.6
28.9
6.4
456.2
469.0
456.1
462.5
464.2
466.7
469.2
476.0
26.1
48.6
323.7
250.9
72.8
57.8
28.1
51.1
331.6
255.2
76.3
58.2
26.4
49.0
324.7
251.5
73.2
56.0
26.9
49.5
326.8
252.7
74.1
59.3
27.4
50.1
328.6
253.7
75.0
58.0
27.9
50.7
330.6
254.7
75.8
57.5
28.4
51.4
332.4
255.7
76.7
57.0
28.9
52.1
334.6
256.9
77.8
60.3
5:5
SURVEY OF CURRENT BUSINESS
February 1990
Table 3.10.—National Defense Purchases of Goods and Services in Constant
Dollars
Table 3.9.—National Defense Purchases of Goods and Services
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1988
National defense purchases .......
Durable goods
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment
Other
Other durable goods
Nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Contractual research and
development
Installation support J
Weapons support 2
Personnel support 3
Transportation of materiel
Travel of persons
Other
Structures
Military facilities
Other
m
IV
II
I
m
IV
298.0
302.2
296.1
300.5
298.7
301.3
307.8
301.2
83.9
81.9
83.7
85.1
82.7
82.8
84.5
77.6
72.9
29.3
12.4
8.4
4.2
6.0
12.5
11.0
72.0
26.7
13.6
9.8
3.5
6.3
12.0
10.0
73.0
27.9
12.7
8.1
4.3
5.8
14.2
10.7
74.3
30.5
13.3
9.3
3.7
6.5
10.9
10.7
72.9
27.7
12.9
10.2
3.7
5.9
12.5
9.8
72.2
26.0
14.3
9.0
3.4
6.3
13.1
10.6
74.4
25.6
14.2
10.3
3.8
7.2
13.3
10.1
68.3
27.5
13.0
9.8
2.9
6.0
9.0
9.3
10.9
11.2
10.5
11.1
10.8
4.3
3.5
2.7
4.7
3.8
2.6
4.4
3.9
2.6
Petroleum products
Ammunition
Other nondurable goods
1988
1989
1988
1989'
4.7
3.8
2.7
11.7
11.0
11.3
4.6
3.6
2.7
4.6
4.2
2.9
4.4
3.9
2.7
5.3
3.6
2.4
196.1
202.5
194.7
197.4
198.8
200.5
205.4
205.4
113.2
76.0
37.2
82.9
119.8
79.3
40.5
82.8
113.0
76.2
36.9
81.7
113.7
76.2
37.6
83.6
119.1
79.1
40.0
79.8
119.4
79.0
40.4
81.2
120.0
79.3
40.7
85.4
120.6
79.6
41.0
84.8
30.7
23.8
8.9
11.8
3.7
4.0
0
30.8
23.5
8.9
11.9
3.9
3.9
-.1
30.3
23.4
8.5
11.9
3.9
3.9
-.3
31.4
23.6
9.1
11.7
3.8
3.9
.1
29.8
22.3
8.9
11.4
3.6
3.7
0
30.2
22.8
9.0
11.6
3.8
3.9
-.2
31.2
25;2
9.0
12.8
4.0
3.9
-.6
32.0
23.9
8.8
11.8
4.1
3.9
.4
7.0
6.6
7.2
7.0
6.3
6.3
6.8
6.8
4.7
2.4
4.1
2.4
4.9
2.3
4.6
2.4
4.0
2.2
3.9
2.4
4.3
2.5
4.3
2.5
National defense purchases
Durable goods
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment
Other
Other durable goods
Nondurable goods
Petroleum products
Other nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Contractual research and
development
Installation support '
Weapons support 2
Personnel support 3
.
Transportation of materiel
Travel of persons
Other
Structures
Military facilities
Other
1989 T
1989
1988
m
IV
II
I
m
IV
261.5
256.5
258.8
261.6
254.4
255.8
260.1
255.6
84.6
82.3
84.3
85.0
82.1
82.8
84.3
79.9
70.8
29.0
13.5
7.1
4.5
5.6
11.2
13.8
69.5
26.9
14.9
7.9
3.7
5.7
10.4
12.8
70.9
27.9
13.6
6.7
4.6
5.4
12.7
13.4
71.8
30.4
14.1
7.8
3.9
6.0
9.7
13.2
69.7
26.6
14.4
8.4
4.0
5.4
10.9
12.4
69.4
25.9
15.5
7.3
3.6
5.7
11.4
13.4
71.3
26.0
15.0
8.3
4.1
6.4
11.5
13.0
67.5
29.1
14.5
7.8
3.0
5.4
7.7
12.5
14.3
14.2
13.4
14.7
13.9
14.5
14.1
14.5
7.9
4.1
2.2
8.1
3.9
2.2
7.3
3.7
2.3
8.6
4.0
2.2
7.8
4.3
2.4
7.7
4.1
2.3
9.0
3.4
2.0
7.8
3.8
2.3
155.4
156.4
153.5
153.7
156.7
156.2
89.1
60.0
29.1
67.8
89.7
59.6
30.1
65.4
88.7
59.9
28.7
66.8
89.1
59.8
29.3
67.3
89.5
59.7
29.8
64.0
89.4
59.5
29.9
64.3
89.8
59.6
30.1
67.0
90.0
59.7
30.3
66.2
25.5
18.2
7.6
8.9
3.9
3.8
0
24.7
17.3
7.3
8.5
4.0
3.6
-.1
25.1
17.8
7.3
8.9
4.2
3.7
-.2
25.7
17.8
7.6
8.6
3.9
3.7
.1
24.4
16.8
7.4
8.3
3.6
3.4
0
24.1
16.9
7.5
8.4
3.9
3.6
-.1
24.9
18.3
7.3
9.1
4.1
3.6
-.5
25.4
17.3
7.1
8.3
4.3
3.5
.3
5.7
4.9
5.8
5.4
4.8
4.7
5.1
5.0
3.7
1.9
3.1
1.8
3.9
1.9
3.5
1.9
3.0
1.7
2.9
1.8
3.2
1.9
3.0
1.9
156.9
155.0
1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors
to operate installations.
2. Includes depot maintenance and contractual services for weapons systems, other than research and
development.
3. Includes compensation of foreign personnel, consulting, training, and education.
1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors
to operate installations.
2. Includes depot maintenance and contractual services for weapons systems.
3. Includes compensation of foreign personnel, consulting, training, and education.
Table 4.1.—Foreign Transactions in the National Income and Product Accounts
Table 4.2.—Exports and Imports of Goods and Services in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1988
Receipts from foreigners '
l
Exports of goods and services
Merchandise2
Durable goods 2
Nondurable goods
Services '
Factor income 3 4
Other5
Capital grants received by the United
States (net)
Payments to foreigners *
Imports of goods and services
Merchandise 2
Durable goods 2
Nondurable goods
Services 6
Factor7 income 3
Other
6
Transfer payments (net)
From persons (net)
Interest paid by government to
foreigners
Net foreign investment.
1988
1989 '
Seasonally adjusted at annual rates
1989
m
IV
I
n
1988
m
IV
547.7
625.3
556.8
579.7
605.6
626.1
628.5
641.0
547.7
322.0
206.8
115.2
225.7
116.7
108.9
625.3
369.5
240.9
128.5
255.8
136.0
119.8
556.8
327.5
208.5
119.0
229.3
118.1
111.2
579.7
341.0
221.3
119.7
238.6
125.5
113.2
605.6
358.7
231.4
127.2
246.9
131.9
115.1
626.1
372.1
239.1
133.0
254.0
136.2
117.8
628.5
370.4
246.0
124.4
258.1
134.5
123.6
641.0
376.8
247.2
129.6
264.2
141.6
122.6
0
0
0
0
0
0
0
0
547.7
625.3
556.8
579.7
605.6
626.1
628.5
641.0
621.3
449.0
294.5
154.5
172.3
83.4
88.9
673.0
480.0
309.8
170.2
193.0
101.5
91.5
623.0
448.8
294.0
154.8
174.2
85.9
88.3
650.5
468.8
312.6
156.3
181.6
91.0
90.6
659.6
469.8
309.6
160.3
189.8
97.3
92.5
676.6
480.0
308.0
172.0
196.6
105.2
91.4
673.6
482.2
309.8
172.4
191.4
101.0
90.4
682.2
487.9
311.7
176.1
194.3
102.6
91.8
15.4
1.7
13.6
13.6
1.9
11.7
20.2
1.9
18.2
13.8
2.2
11.5
12.5
1.4
11.1
15.7
1.6
14.1
19.6
1.7
17.8
33.4
30.2
31.1
32.5
14.7
1.9
12.9
29.1
-117.5
-96.5 -109.9 -122.0 -100.3
34.4
-97.5
33.9
-94.8
32.8
-93.6
1988
1989
m
IV
I
II
m
IV
530.1
588.9
531.9
551.4
569.7
587.5
593.1
605.4
Merchandise 2
Durable goods 2
Nondurable goods
344.3
234.0
110.4
387.4
266.0
121.5
344.1
234.2
109.9
358.6
248.0
110.5
372.5
254.0
118.5
386.9
262.8
124.1
390.6
272.3
118.3
399.6
274.8
124.9
Services1
Factor 5 income 3 4
Other
185.8
94.7
91.1
201.5
105.6
95.9
187.8
95.3
92.5
192.8
100.0
92.8
197.2
104.0
93.2
200.6
106.1
94.5
202.5
103.9
98.6
205.7
108.4
97.4
Imports of goods and services6
1. See footnote 5 and the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.
2. Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, which
was reclassified to "other" services.
3. Line 7 less line 16 equals rest-of-the-world product as shown in table 1.7.
4. Estimates beginning with the first quarter of 1986 exclude noninterest income of banks, which was
reclassified to "other" services.
5. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical
services and incorporate improved measurement of telecommunications services and insurance services;
incorporate new source data on travel and passenger fares; cover foreign students' expenditures in the United
States; cover repairs and alterations of equipment; and cover noninterest income of banks.
6. See footnote 7 and the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.
7. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical
services and incorporate improved measurement of telecommunications services and insurance services;
incorporate new source data on travel and passenger fares; cover U.S. students' expenditures abroad; cover
repairs and alterations of equipment.
Exports of goods and services '
1989'
605.0
641.8
606.9
625.2
624.6
638.7
650.2
653.5
Merchandise2
Durable goods 2
Nondurable goods
467.1
280.8
186.3
494.2
299.9
194.3
468.3
281.8
186.6
483.4
291.3
192.1
477.4
290.7
186.7
487.5
296.1
191.4
504.3
303.8
200.5
507.3
309.0
198.4
Services6
Factor income 3 .
Other 7
137.9
66.6
71.3
147.6
77.7
69.9
138.5
68.2
70.3
141.9
71.4
70.4
147.2
75.7
71.6
151.1
80.9
70.2
145.9
76.9
69.0
146.2
77.4
68.8
1. See footnote 5 and the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.
2. Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, which
was reclassified to "other" services.
3. Line 6 less line 13 equals rest-of-the-world product as shown in table 1.8.
4. Estimates beginning with the first quarter of 1986 exclude noninterest income of banks, which was
reclassified to "other" services.
5. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical
services and incorporate improved measurement of telecommunications services and insurance services;
incorporate new source data on travel and passenger fares; cover foreign students' expenditures in the United
States; cover repairs and alterations of equipment; and cover noninterest income of banks.
6. See footnote 7 and the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.
7. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical
services and incorporate improved measurement of telecommunications services and insurance services;
incorporate new source data on travel and passenger fares; cover U.S. students' expenditures abroad; cover
repairs and alterations of equipment.
10
SURVEY OF CURRENT BUSINESS
February 1990
Table 4.3.—Merchandise Exports and Imports by Type of Product and by EndUse Category
Table 4.4.—Merchandise Exports and Imports by Type of Product and by EndUse Category in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1988
Merchandise exports '
1988
1989'
Seasonally adjusted at annual rates
1989
HI
IV
I
II
1988
in
IV
322.0
369.5
327.5
341.0
358.7
372.1
370.4
376.8
32.9
83.0
27.9
55.1
112.4
32.5
24.2
11.0
13.2
37.0
23.1
14.0
36.0
95.8
33.6
62.1
130.6
34.7
32.2
16.2
15.9
40.2
25.7
14.5
34.8
85.2
28.6
56.6
112.9
31.9
24.9
11.5
13.4
37.8
23.6
14.2
34.6
86.4
30.2
56.3
119.7
34.3
26.6
12.2
14.4
39.5
24.9
14.5
38.6
92.6
32.5
60.1
123.4
35.5
29.9
15.1
14.8
38.7
25.0
13.7
37.9
99.0
34.0
65.0
129.3
34.4
32.2
16.5
15.7
39.3
24.9
14.4
32.3
96.6
34.4
62.2
138.3
33.2
32.0
15.9
16.1
37.9
24.1
13.7
35.0
94.8
33.6
61.2
131.6
35.8
34.6
17.5
17.1
45.0
28.8
16.2
Merchandise imports '
449.0
480.0
448.8
468.8
469.8
480.0
482.2
487.9
Foods, feeds, and beverages
Industrial supplies and materials,
excluding petroleum
Durable goods
.
....
Nondurable goods
Petroleum and products
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other1
Durable goods 1 2
Nondurable goods 2
24.9
25.1
24.8
25.1
25.1
25.1
24.9
25.3
76.4
40.9
35.6
39.3
101.8
87.9
96.4
52.8
43.6
22.3
11.2
11.2
78.3
42.5
35.8
50.3
113.4
86.3
103.0
55.9
47.2
23.6
11.8
11.8
76.3
40.1
36.2
39.1
102.7
87.0
96.5
53.0
43.5
22.5
11.2
11.2
80.6
44.1
36.5
36.9
107.1
93.0
101.8
56.1
45.6
24.4
12.2
12.2
80.2
43.5
36.6
43.4
108.7
91.3
98.4
54.7
43.7
22.7
11.4
11.4
78.1
42.5
35.6
53.8
113.9
84.8
101.2
55.2
46.0
23.1
11.5
11.5
77.4
42.0
35.4
52.2
114.1
84.9
104.9
56.9
48.0
23.8
11.9
11.9
77.4
•41.9
35.6
51.9
116.7
84.0
107.6
56.7
50.9
24.9
12.5
12.4
38.1
283.8
409.7
41.3
328.2
429.7
39.7
287.8
409.7
39.2
301.9
432.0
43.1
315.6
426.4
43.4
328.7
426.3
38.6
331.8
430.1
40.2
336.5
436.0
Foods, feeds, and beverages
Industrial supplies and materials
Durable goods
Nondurable goods
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other '
Durable goods ' 2
Nondurable goods 2
Addenda:
Exports of agricultural products 3
Exports of nonagricultural products ....
Imports of nonpetroleum products
Merchandise exports '
Foods, feeds, and beverages
Industrial supplies and materials
Durable goods
,
Nondurable goods
Capital goods, except autos
Autos..
Consumer goods
Durable goods
Nondurable goods
Other1... .
. .
Durable goods l 2
Nondurable goods 2
Merchandise imports 1
Foods, feeds and beverages
Industrial supplies and materials,
excluding petroleum
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other1
Durable goods J 2
Nondurable goods 2
,
1988
1989'
1989
m
IV
I
II
ffl
IV'
344.3
387.4
344.1
358.6
372.5
386.9
390.6
399.6
33.1
79.7
26.8
52.9
144.3
28.1
21.7
10.3
11.4
37.5
24.5
13.0
35.2
92.0
32.2
59.8
162.4
29.0
28.0
14.8
13.2
40.8
27.6
13.2
32.0
80.5
27.0
53.5
144.6
27.3
22.3
10.7
11.6
37.4
24.5
12.9
31.9
81.8
28.5
53.2
152.4
29.2
23.6
11.3
12.3
39.7
26.6
13.1
36.1
88.7
31.2
57.5
152.7
29.9
26.0
13.7
12.3
39.0
26.5
12.5
36.2
94.1
32.3
61.8
160.4
29.0
28.0
14.9
13.1
39.2
26.2
13.1
32.2
93.2
32.9
60.3
170.5
27.7
27.7
14.5
13.3
39.3
26.7
12.5
36.3
92.1
32.5
59.6
166.0
29.5
30.0
16.0
14.1
45.7
30.9
14.8
467.1
494.2
468.3
483.4
477.4
487.5
504.3
507.3
22.7
23.9
22.5
22.7
22.9
23.1
24.5
25.2
73.7
39.5
34.2
86.2
121.2
66.4
78.2
44.3
33.9
18.7
9.4
9.4
72.3
39.5
32.8
92.3
140.8
63.7
81.8
46.2
35.6
19.5
9.7
9.7
72.7
38.3
34.4
86.4
123.6
65.7
78.6
44.7
33.8
18.9
9.4
9.4
75.1
41.1
34.0
90.3
124.8
68.8
81.7
46.6
35.1
20.0
10.0
10.0
72.7
39.4
33.3
87.9
129.5
67.4
78.5
45.2
33.3
18.6
9.3
9.3
71.2
38.8
32.4
91.6
138.8
63.2
80.7
45.9
34.8
19.0
9.5
9.5
72.0
39.5
32.5
97.4
144.2
63.0
83.4
47.2
36.2
19.7
9.9
9.9
73.1
40.3
32.9
92.0
150.8
61.1
84.5
46.5
38.0
20.6
10.3
10.3
37.6
306.7
380.9
39.5
347.9
401.9
36.2
307.9
381.9
36.2
322.3
393.1
40.1
332.4
389.5
40.7
346.2
395.9
37.1
353.5
406.9
40.1
359.6
415.3
Addenda:
Exports of agricultural products 3
Exports of nonagricultural products ....
Imports of nonpetroleum products
1. Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, which
was reclassified to services other than factor income.
2. Because no data are available to distribute exports and imports of "other" merchandise between durable
and nondurable goods prior to 1986, or to distribute imports of "other" merchandise for all time periods,
estimates were distributed equally.
3. Includes parts of line 2 and line 5.
1. Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, which
was reclassified to services other than factor income.
2. Because no data are available to distribute exports and imports of "other" merchandise between durable
and nondurable goods prior to 1986, or to distribute imports of "other" merchandise for all time periods,
estimates were distributed equally.
3. Includes parts of line 2 and line 5.
NOTE.—Beginning with 1985, the definitions of the end-use categories have been changed. For a
description of the new definitions, see the technical notes in "U.S. International Transactions, First Quarter
1988," SURVEY OF CURRENT BUSINESS 68 (June 1988): 34-39 and 57.
NOTE.—Beginning with 1985, the definitions of the end-use categories have been changed. For a
description of the new definitions, see the technical notes in "U.S. International Transactions, First Quarter
1988," SURVEY OF CURRENT BUSINESS 68 (June 1988): 34-39 and 57.
Table 5.1.—Gross Saving and Investment
[Billions of dollars]
Seasonally adjusted at annual rates
1988
Gross saving
Gross private saving
.....
Personal saving
Undistributed corporate profits with
inventory valuation and capital
consumption adjustments
Undistributed profits
Inventory valuation adjustment
Capital consumption adjustment
Corporate capital consumption
allowances with capital
consumption adjustment
Noncorporate capital consumption
allowances with capital
consumption adjustment
Wage accruals less disbursements
1989 '
1989
1988
m
IV
I
m
II
IV
642.4
701.2
669.8
647.4
693.5
695.8
709.9
738.6
144.7
805.4
205.2
742.4
149.6
7693
163.4
792.1
205.7
793.7
200.7
809.7
195.1
219.2
80.3
58.5
-25.0
46.8
48.0
37.2
-18.6
29.4
77.6
61.1
-30.4
46.9
81.7
60.4
-20.1
41.5
53.4
55.1
-38.3
36.6
52.0
40.2
-20.5
32.3
49.3
29.1
-6.3
26.5
-9.4
22.0
321.7
344.9
323.1
329.7
335.2
339.7
349.9
354.8
191.9
207.4
192.1
194.4
197.8
201.3
215.3
215.1
0
0
0
0
0
0
0
0
Government surplus or deficit (-),
national income and product
-99.8
-97.9
accounts
.
. . . . -96.1 -104.3 -72.7 -121.9 -98.7
-145.8 -148.5 -122.5 -167.6 -147.5 -145.4 -144.7
Federal
44.9
47.5
48.8
45.7
44.3
49.7
49.8
State and local
Capital grants received by the
United States (net)
0
0
0
0
0
0
0
0
Gross investment
632.8
677.8
661.2
630.8
669.3
677.5
684.3
680.0
774.3 771.1 752.8 769.6
-96.5 -109.9 -122.0 -100.3
775.0
-97.5
779.1
-94.8
773.6
-93.6
-18.3
-25.5
Gross private domestic investment
Net foreign investment
Statistical discrepancy
750.3
-117.5
-9.6
-23.4
-«.6
-16.6
-24.1
11
SURVEY OF CURRENT BUSINESS
February 1990
Table 5.8.—Change in Business Inventories by Industry
Table 5.9.—Change in Business Inventories by Industry in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1988
1988
1989'
HI
Change in business
inventories
Seasonally adjusted at annual rates
1989
IV
I
1988
II
m
30.6
28.0
44.6
18.7
27.7
27.4
27.4
29.5
4.9
3.1
-22.2
8.6
3.8
7.5
-.4
34.2
70.6
-36.4
23.1
50.6
-27.5
41.5
84.4
^2.8
40.8
71.2
-30.4
19.1
76.8
-57.8
23.6
54.5
-30.9
19.8
27.2
-7.3
30.0
43.9
-13.9
Manufacturing
Durable goods
Nondurable goods
9.1
8.7
.4
6.7
6.8
-.1
6.6
7.5
-.9
14.9
14.6
.3
4.5
10.2
-5.7
9.8
5.3
4.5
14.5
9.8
4.8
-1.9
2.0
^.0
Wholesale trade
Durable goods
Nondurable goods
8.9
7.3
1.6
3.6
3.7
-.1
9.7
16.1
-6.3
4.5
2.2
2.3
-4.6
1.2
-5.9
6.1
6.9
-.9
3.3
1.9
1.4
9.5
4.7
4.8
Merchant wholesalers
Durable goods
Nondurable goods
7.7
6.0
1.7
4.0
3.9
.1
7.4
14.1
-6.7
2.4
-.2
2.6
-4.1
1.7
-5.8
6.4
7.7
-1.3
.3
-.4
.6
13.4
6.7
6.8
Nonmerchant wholesalers
Durable goods
Nondurable goods
1.2
1.3
-.4
-.2
_2
2.3
1.9
.4
2.1
2.4
_ -j
-.5
-.4
-.1
-.4
-.8
.4
3.1
2.3
.8
-3.9
-2.0
-1.9
Retail trade
Durable goods
Automotive
Other
Nondurable goods...
8.3
6.1
3.1
3.1
2.1
7.0
.1
1.3
-1.2
6.9
15.1
14.2
10.0
4.2
.9
13.6
11.4
7.7
3.7
2.1
9.9
7.3
10.6
-3.3
2.6
3.1
-5.4
36
-1.8
8.4
-2.0
-7.3
-10.6
3.3
5.3
17.1
5.7
8.7
-2.9
11.3
Other
Durable goods
Nondurable goods
7.9
2.9
5.0
5.8
1.5
4.4
10.1
3.6
6.4
7.9
3.8
4.1
9.3
3.3
6.0
4.6
-.9
5.5
4.0
.8
3.2
5.3
2.7
2.7
Nonfarm
Change in book value
Inventory valuation adjustment !
m
IV
-3.6
Farm
1988
1989 '
Change in business
inventories
1989
IV
I
II
m
IV
27.9
22.9
37.5
18.3
24.5
19.1
21.9
Farm
-2.8
4.2
.3
-13.6
7.6
-.5
5.6
3.9
Nonfarm
30.7
18.7
37.2
31.9
16.9
19.5
16.2
22.3
Manufacturing
Durable goods
Nondurable goods
8.5
8.2
.3
5.4
5.4
-.1
5.8
7.4
-1.6
12.2
13.2
-1.0
3.8
8.3
-4.5
8.3
4.1
4.2
12.0
8.2
3.9
-2.7
1.1
-3.9
Wholesale trade
Durable goods
Nondurable goods
8.5
6.6
1.9
2.7
3.0
-.4
9.8
14.3
-4.5
1.9
1.9
0
-2.4
1.0
-3.4
4.5
6.2
-1.7
2.4
1.4
1.0
6.2
3.6
2.6
Merchant wholesalers
Durable goods
Nondurable goods
7.5
5.4
2.1
3.3
3.3
0
7.4
12.5
-5.2
.4
-.3
.7
-2.1
1.5
-3.5
5.2
7.0
-1.7
-.5
-.6
.1
10.7
5.4
5.2
Nonmerchant wholesalers
Durable goods
Nondurable goods
1.0
1.2
-.3
-.7
-.3
-.4
2.5
1.8
.7
1.5
2.2
-.7
-.4
-.5
.1
-.8
-.8
0
2.9
2.0
1.0
-4.5
-1.9
-2.6
7.3
5.4
2.6
2.8
1.9
5.9
U
-1.0
5.8
13.3
12.5
8.6
3.9
.8
11.6
9.8
6.6
3.2
1.9
8.4
6.1
9.0
-2.9
2.3
2.6
-4.6
-3.0
-1.5
7.2
-1.6
-6.1
-9.0
2.9
4.5
14.1
4.8
7.3
-2.5
9.4
6.5
2.5
4.0
4.8
1.2
3.6
8.3
3.1
5.2
6.2
3.2
3.0
7.1
2.7
4.4
4.1
-.8
4.9
3.4
.7
2.7
4.7
2.2
2.5
Retail trade
Durable goods
Automotive
Other
Nondurable goods...
...
Other
Durable goods
Nondurable goods
26.2
1. The inventory valuation adjustment (IVA) shown in this table differs from the IVA that adjusts business
incomes. The IVA in this table reflects the mix of methods (first-in, first-out; last-in, first-out; etc.)
underlying book value inventories derived primarily from Census Bureau statistics. This mix differs from that
underlying business income derived primarily from Internal Revenue Service statistics.
Table 5.10.-—Inventories and Final Sales of Business by Industry
Table 5.11.—Inventories and Final Sales of Business by Industry in Constant
Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted quarterly totals
Seasonally adjusted quarterly totals
1988
III
Inventories '
IV
I
II
1989
1988
1989
m
IV '
985.3 1,004.0 1,026.6 1,033.9 1,041.8 1,055.6
Inventories '
m
IV
885.9
890.5
896.6
71.2
67.8
69.7
I
m
IV
901.4
906.8
913.4
69.6
71.0
72.0
II
77.6
75.7
78.2
77.4
77.5
80.7
Nonfarm
Durable goods
Nondurable goods
907.7
535.5
372.2
928.3
549.5
378.7
948.4
561.8
386.6
956.5
564.3
392.2
964.3
568.6
395.7
974.9
572.2
402.8
Nonfarm
Durable goods
Nondurable goods
814.7
469.6
345.1
822.7
476.7
346.0
826.9
481.2
345.7
831.8
482.4
349.4
835.8
483.5
352.4
841.4
486.4
355.0
Manufacturing
Durable goods
Nondurable goods
360.8
240.5
120.4
368.6
246.9
121.7
376.5
253.2
123.4
378.2
254.0
124.1
382.9
257.9
125.0
382.5
257.5
125.0
Durable goods
Nondurable goods
324.3
212.1
112.2
327.3
215.4
111.9
328.3
217.5
110.8
330.4
218.5
111.9
333.4
220.5
112.8
332.7
220.8
111.9
Wholesale trade
Durable goods
Nondurable goods . . . . .
215.7
138.6
77.1
218.6
140.7
77.9
221.6
142.9
78.7
223.8
145.2
78.6
225.4
146.6
78.8
228.5
148.0
80.5
Wholesale trade
Durable goods . .
Nondurable goods
193.0
121.3
71.7
193.5
121.8
71.7
192.9
122.0
70.9
194.0
123.6
70.4
194.6
123.9
70.7
196.1
124.8
71.3
188.9
122.4
66.5
191.0
123.7
67.3
193.1
125.8
67.4
195.4
128.3
67.1
196.2
129.0
67.2
200.1
131.0
69.1
166.9
107.1
59.8
167.0
107.0
60.0
166.5
107.4
59.1
167.8
109.1
58.7
167.7
109.0
58.7
170.3
110.3
60.0
26.8
16.2
10.6
27.6
17.0
10.6
28.5
17.1
11.3
28.4
16.9
11.5
29.2
17.6
11.6
28.4
17.0
11.3
26.1
14.2
11.9
26.5
14.7
11.7
26.4
14.6
11.8
26.2
14.4
11.8
26.9
14.9
12.0
25.8
14.5
11.4
218.2
112.3
56.9
55.4
105.9
223.7
116.2
59.4
56.8
107.4
229.0
119.0
62.3
56.7
110.0
231.3
118.3
61.5
56.8
113.0
231.7
117.0
59.1
57.9
114.7
238.1
119.0
61.6
57.4
119.1
Retail trade
Durable goods
Automotive
Other
Nondurable goods
190.7
98.4
48.9
49.5
92.3
193.6
100.8
50.6
50.3
92.8
195.7
102.3
52.8
49.5
93.4
196.4
101.2
52.0
49.2
95.2
196.0
99.7
49.8
49.9
96.3
199.5
100.9
51.6
49.3
98.6
Other
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Automotive
.•
Other
Nondurable goods
.
Other.....
Final sales2
Final sales of goods and structures 2
113.0
117.4
121.2
123.3
124.4
125.9
345.8
196.8
354.4
202.4
360.0
205.4
366.6
208.9
371.8
210.5
374.8
210.1
2.85
2.62
2.83
2.62
2.85
2.63
2.82
2.61
2.80
2.59
2.82
2.60
4.61
4.59
4.62
4.58
4.58
4.64
Ratio of inventories to final sales
Inventories to final sales
Nonfarm inventories to final sales..
Nonfarm inventories to final sales of goods and
structures
..
....
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
.
.
.
....
.
....
. . . .
Final sales 2
Final sales of goods and structures 2
106.7
108.2
110.0
111.0
111.9
113.1
288.5
177.0
291.9
179.5
294.3
181.4
296.8
182.8
298.6
183.0
298.5
181.5
3.07
2.82
3.05
2.82
3.05
2.81
3.04
2.80
3.04
2.80
3.06
2.82
4.60
4.58
4.56
4.55
4.57
4.64
Ratio of inventories to final sales
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated from
current-dollar inventories in this table is not the current- dollar change in business inventories (CBI)
component of GNP. The former is the difference between two inventory stocks, each valued at their
respective end-of-quarter prices. The latter is the change in the physical volume of inventories valued at
average prices of the quarter. In addition, changes calculated from this table are at quarterly rates, whereas
CBI is stated at annual rates.
2. Quarterly totals at monthly rates. Business final sales equals final sales less gross product of households
and institutions, government, and rest of the world, and includes a small amount of final sales by farms.
Farm
Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods and
structures .. .
..
..
1. Inventories are as of the end of the quarter. Quarter-to-quarter changes calculated from this table are at
quarterly rates, whereas the constant-dollar change in business inventories component of GNP is stated at
annual rates.
2. Quarterly totals at monthly rates. Business final sales equals final sales less gross product of households
and institutions, government, and rest of the world, and includes a small amount of final sales by farms.
12
SURVEY OF CURRENT BUSINESS
February 1990
Table 5.12.—Fixed Investment by Type
Table 5.13.—Fixed Investment by Type in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1988
1989 '
1988
Seasonally adjusted at annual rates
1988
1989
III
IV
I
II
in
IV '
1988
1989'
1989
ni
IV
I
II
III
IV r
Fixed investment
719.6
746.3
726.5
734.1
742.0
747.6
751.7
744.0
Fixed investment
687.9
698.5
696.1
690.8
696.6
700.7
702.7
693.9
Nonresidential
487.2
511.6
493.2
495.8
503.1
512.5
519.6
511.2
Nonresidential
493.8
509.9
501.0
492.7
501.0
511.4
517.9
509.4
140.3
145.0
142.0
142.5
144.7
142.4
146.2
146.6
122.2
120.0
123.0
121.4
121.1
118.1
120.4
120.4
97.8
26.1
100.5
28.4
98.7
26.8
97.9
28.6
101.3
28.8
98.5
28.5
101.3
28.3
100.8
28.1
78.7
22.6
77.7
23.8
79.3
23.0
78.1
24.2
79.8
24.5
76.6
24.0
77.7
23.6
76.6
23.2
12.0
4.5
10.6
5.5
12.3
4.1
11.0
4.9
9.7
4.8
9.9
5.5
10.7
5.9
11.9
5.9
17.2
3.7
14.0
4.5
17.3
3.4
15.0
4.1
12.9
3.9
13.1
4.5
14.2
4.8
15.8
4.7
346.8
366.6
351.3
353.3
358.5
370.1
373.4
364.6
371.6
389.9
378.0
371.3
379.9
393.2
397.6
389.0
114.7
81.9
121.5
91.6
116.9
83.0
115.1
87.8
117.8
92.2
122.7
90.7
122.0
91.6
123.4
91.7
174.2
68.4
188.5
73.7
178.6
69.5
172.2
72.0
180.3
74.9
189.1
73.5
191.1
73.5
193.5
73.0
76.3
73.9
74.2
79.5
77.4
74.0
76.7
73.7
72.2
76.3
77.6
79.0
79.8
80.1
67.1
82.5
65.7
63.3
61.9
65.8
66.7
63.2
64.7
62.4
60.7
63.9
64.8
65.7
66.9
66.0
55.0
67.4
194.1
96.2
19.3
78.6
188.6
91.4
18.9
78.3
195.1
95.3
19.1
80.7
198.1
97.9
19.2
80.9
195.6
98.3
19.5
77.8
189.3
91.1
19.8
78.4
184.8
87.9
18.8
78.0
184.5
88.3
17.3
78.9
Structures
Nonresidential buildings,
excluding farm
Public utilities
Mining exploration, shafts, and
Other
Producers' durable equipment
Information processing and
related equipment
Industrial equipment
Transportation and related
equipment
Other
Residential
Single-family structures
Multifamily structures
Other
232.4
116.5
23.3
92.6
234.7
115.5
23.8
95.3
233.2
115.1
23.1
95.0
238.4
119.2
23.4
95.8
238.8
121.5
24.1
93.2
235.1
114.8
25.0
95.3
232.1
112.4
24.1
95.6
232.8
113.5
22.2
97.1
Structures ....
Nonresidential buildings,
excluding farm
Public utilities
Mining exploration, shafts, and
Other
Producers' durable equipment
Information processing and
related equipment
Industrial equipment
Transportation and related
equipment
Other
Residential
Single-family structures
Multifamily structures
Other
Table 6.3B.—National Income Without Capital Consumption Adjustment by
Industry
Table 6.18B.—Corporate Profits by Industry
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1988
1988
1989'
m
National income without
capital consumption
adjustment .. .
1988
1989
rv
I
II
III
m
Corporate profits with inventory
valuation and capital consumption
adjustments
Domestic industries
Domestic industries
3,919.5 4,236.3 3,953.0 4,048.9 4,143.9 4,218.9 4,266.9
Private industries
3,352.6 3,630.0 3,382.0 3,470.1 3,549.6 3,616.8 3,656.7
Financial
Nonfinancial .
Agriculture, forestry, and fisheries..
Mining
Construction
90.4
34.4
211.2
98.2
37.4
223.3
88.0
34.8
213.2
82.5
33.9
217.4
109.5
35.0
220.5
102.7
37.2
221.6
88.7
38.3
224.3
Rest of the world
Manufacturing
Durable goods
Nondurable goods
788.6
455.0
333.6
819.1
467.9
351.2
789.9
457.4
332.6
816.1
469.2
346.9
817.1
469.9
347.2
818.2
466.7
351.5
823.1
467.9
355.2
Domestic industries
Transportation and public utilities...
Transportation
Communication ...
Electric, gas, and sanitary
services
300.2
131.1
83.6
320.6
140.8
88.2
304.7
133.6
84.5
311.1
134.9
85.7
314.5
137.1
87.8
321.4
140.0
90.0
322.0
142.1
87.2
85.5
91.6
86.5
90.6
89.7
91.4
92.7
Wholesale trade
Retail trade
Finance, insurance, and real estate..
Services
234.5
335.6
568.8
789.0
253.7
356.2
633.0
888.4
236.5
338.5
576.4
800.0
244.9
344.2
594.5
825.5
244.7
346.6
613.3
848.3
251.6
353.9
633.3
876.9
257.2
362.8
638.4
902.1
566.9
606.3
571.0
578.8
594.3
602.0
610.2
33.3
34.5
32.3
34.5
34.5
31.0
33.5
Rest of the world
IV
1
II
m
rv
IV
3,952.8 4,270.8 3,985.2 4,083.4 4,178.4 4,249.8 4,300.5
Government and government
enterprises
1989
1988
1989 '
328.6 299.2 330.9 340.2 316.3
307.8 295.2
285.0 252.6 285.9 293.7 269.7 264.2 249.5
•
Corporate profits with inventory
valuation adjustment
Federal Reserve banks
Other
Nonfinancial
35.7 29.5 37.5 35.5 34.4 33.6 22.8
249.3 223.1 248.3 258.2 235.3 230.5 226.7
43.7 46.6 45.1 46.5 46.6 43.6 45.7
281.8
269.9 284.1 298.7 279.7 275.5 268.7
238.2 223.2 239.0 252.2 233.1
231.8
223.0
29.3
20.3
9.0
28.6
21.2
7.4
17.8
20.4
-2.6
29.8
18.1
11.7
208.4
98.4
24.4
20.6
3.7
31.6
18.3
13.3
30.1
19.3
10.8
198.9 207.3 222.1 203.9 203.2 205.2
87.3 95.1 105.5 96.5 90.3 86.6
Primary metal industries
Fabricated metal products
Machinery except electrical
Electric and electronic equipment
Motor vehicles and equipment
Other
38.1
6.4
6.1
4.8
4.6
2.4
13.8
30.4
6.5
6.4
2.2
4.0
-.9
12.1
38.3
6.8
4.8
6.0
5.8
3.2
11.8
39.8
7.4
5.9
2.1
6.6
4.5
13.4
35.6
6.5
7.2
2.0
4.4
3.0
12.4
31.5
6.6
6.7
2.8
5.1
-1.9
12.2
28.6
6.7
6.2
2.3
3.0
-2.0
12.3
Food and kindred products
Chemicals and allied products
Petroleum and coal products
Other
60.3
15.7
17.4
3.7
23.5
57.0
15.0
16.6
2.2
23.2
56.8
14.9
15.6
3.8
22.5
65.7
17.2
22.0
5.3
21.2
60.9
17.4
18.5
1.2
23.8
58.8
14.8
18.1
1.0
24.9
58.0
14.8
15.9
3.9
23.4
39.3
40.1
30.6
39.7
37.0
34.9
40.8
39.2
32.2
43.5
41.8
31.3
41.6
34.1
31.7
40.8
36.9
35.2
39.4
41.9
37.4
43.7
46.6
45.1
46.5
46.6
43.6
45.7
39.0
Transportation and public utilities
Wholesale and retail trade
Other
Rest of the world
r..;...:
••••••'•"•'
SURVEY OF CURRENT BUSINESS
February 1990
13
Table 7.1.—Fixed-Weighted Price Indexes for Gross National Product, 1982
Weights
Table 7.2.—Fixed-Weighted Price Indexes for Gross National Product by
Major Type of Product, 1982 Weights
[Index numbers, 1982=100]
[Index numbers, 1982=100]
Seasonally adjusted
Seasonally adjusted
1988 1989'
1988
1988 1989'
1989
III
IV
I
n
m
IV'
Gross national product
124.1
129.6
124.9
126.2
127.7
129.3 130.2
131.4
Gross national product
Personal consumption expenditures
125.9
131.8
126.6 128.1
129.6
131.6
133.8
Final sales
Change in business inventories .
Durable goods
Nondurable goods
Services
. .
.
.
112.9 115.1 113.2 114.1
117.2 123.8 118.1 119.4
135.5 141.9 136.2 138.1
. . .
132.3
114.7 114.7 115.2 115.9
121.0 124.5 124.3 125.6
139.8 141.1 142.6 144.3
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Change in business inventories
111.3
109.0
107.1
110.2
119.5
115.6
113.1
112.1
113.8
124.2
111.5
109.3
107.9
110.2
119.3
112.7
110.5
109.1
111.5
120.1
114.1
111.8
110.5
112.7
121.8
115.2
112.6
111.6
113.3
123.9
116.1
113.5
112.7
114.0
125.3
117.1
114.5
113.6
115.1
125.9
Net exports of goods and services
Exports
Imports
.
.
.
111.2 114.5 112.6 113.3 113.7 114.6 114.4 114.6
. 106.3 110.7 106.2 107.3 109.5 111.1 109.8 111.0
Government purchases of goods and services.... 125.1
Federal
National defense
Nondefense
State and local
. . . .
117.9
:. 117.9
118.0
130.4
130.9
125.9
126.9
129.4
130.5
131.4
132.5
122.9
122.5
123.8
136.9
118.7
118.3
119.7
131.2
119.3
119.0
120.0
132.6
122.3
122.0
123.0
134.7
122.7
122.5
123.2
136.2
123.0
122.5
124.2
137.6
123.4
122.9
124.7
139.1
129.6
IV
I
124.9
126.2
127.7
n
III
rv
129.3 130.2 131.4
.
115.1
Final sales
Change in business inventories
119.9
116.2
117.3
118.1
120.0
120.3 121.2
115.0 119.7 116.0 117.1 118.0 119.8 120.1 121.0
Durable goods..
108.2 110.9 108.7 109.1 109.9 110.6 111.2 112.0
108.3 111.1 108.7 109.2 110.1 110.8 111.3 112.1
Change in business inventories
Nondurable goods
Final sales
Change in business inventories
119.8 125.9 121.3 122.8 123.6 126.3 126.4 127.3
119.5 125.7 121.0 122.5 123.4 126.1 126.2 127.1
Services
133.7
140.1
134.4
136.0
138.0
139.4
140.7
142.2
Structures
113.7
118.6
114.2
115.2
116.8
118.2
119.4
120.1
Table 7.3.—Fixed-Weighted Price Indexes for Relation of Gross National
Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers,
1982 We ights
[Index numbers, 1982=100]
124.0 129.5 124.8 126.1 127.6 129.2 130.1 131.2
122.2 129.2 123.5 124.9 126.6 129.0 129.9 131.4
92.4 97.7 92.8 92.9 94.0 100.6 98.2 97.8
131.0 136.7 131.5 133.3 134.8 136.1 137.2 138.8
Seasonally adjusted
1988 1989'
129.6
1989
1988
III
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
1989
III
124.0 129.5 124.8 126.1 127.6 129.2 130.1 131.2
Goods
Addenda:
Final sales
Personal consumption expenditures, food
Personal consumption expenditures, energy
Other personal consumption expenditures
124.1
1988
IV
I
124.9 126.2 127.7
n
m
TV'
129.3
130.2
131.4
Gross national product .
124.1
Less: Exports of goods and services
Plus: Imports of goods and services
111.2 114.5 112.6 113.3 113.7 114.6 114.4 114.6
106.3 110.7 106.2 107.3 109.5 111.1 109.8 111.0
Equals: Gross domestic purchases '
123.7
129.4
124.3 125.7
127.4
129.1
129.9
131.2
123.5
129.2
124.2 125.6
127.3 128.9
129.7
131.0
Less* Change in business inventories
Equals: Final sales to domestic purchasers 2
1. Purchases in the United States of goods and services wherever produced.
2. Final sales in the United States of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
14
SURVEY OF CURRENT BUSINESS
February 1990
Table 7.7.—Implicit Price Deflators for the Relation of Gross National Product,
Net National Product, and National Income
Table 7.4.—Implicit Price Deflators for Gross National Product
[Index numbers, 1982=100]
[Index numbers, 1982=100]
Seasonally adjusted
1988 1989'
1988
III
Seasonally adjusted
1989
IV
I
II
III
rv
r
1988
1988
1989'
III
Gross national product
121.3
126.3
121.9
Personal consumption expenditures
124.5
130.0
125.1
110.1
116.3
134.9
111.3
122.5
141.2
Durable goods
Nondurable goods
Services .
. . .
123.3
124.5
125.9
126.9
127.9
126.5 128.0
110.2 111.2 111.2
117.1 118.2 120.0
135.6 137.3 139.0
129.8
130.4
131.8
110.8 111.4 111.7
123.3 122.9 124.0
140.4 141.8 143.4
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Change in business inventories
104.6 106.9 104.4
98.7 100.3 98.4
114.9 120.8 115.4
93.3 94.0 92.9
.. 119.7 124.5 119.6
106.3
100.6
117.3
95.2
120.4
106.5
100.4
119.5
94.4
122.1
106.7
100.2
120.6
94.1
124.2
107.0 107.2
100.3 100.4
121.5 121.7
93.9 93.7
125.6 126.2
Gross national product
121.3
126.3
121.9
1989
IV
I
123.3 124.5
n
III
IV'
125.9
126.9
127.9
Less: Capital consumption allowances with
capital consumption adjustment
106.9
108.6
106.7
107.4 108.0
108.4
Equals: Net national product
123.2
128.8
123.9
125.5
126.8
128.3
109.0 109.1
129.4 130.6
Less: Indirect business tax and nontax liability
plus business transfer payments less subsidies
plus current surplus of government enterprises.. 123.3
131.6
125.9
124.5
126.5
129.4
135.3
124.0
119.9
123.7
121.3 122.3 123.6 124.5
125.5 126.8 128.1 128.8
Statistical discrepancy
Equals: National income
119.3
123.2
128.5
135.2
Net exports of goods and services
Exports
Imports
103.3 106.2 104.7 105.1 106.3 106.6 106.0 105.9
102.7 104.9 102.7 104.0 105.6 105.9 103.6 104.4
Government purchases of goods and services.... 123.4 128.6 123.5 125.4 127.1 127.5 129.0 130.7
Federal
National defense
Nondefense
State and local
115.9 119.6
114.0 117.8
123.6 125.4
128.8 135.0
114.9
114.4
117.1
129.6
118.2
114.9
128.7
130.8
118.9 118.2 119.8 121.7
117.4 117.8 118.3 117.8
123.8 119.2 125.0 134.7
132.9 134.4 135.6 137.0
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 7.5.—Implicit Price Deflators for Gross National Product by Major Type
of Product
[Index numbers, 1982=100]
Gross national product
Final sales
Change in business inventories
Goods
126.3
121.9
121.4
126.3
121.9 123.4
109.0
112.8 109.7
112.7 109.5
Final sales . . ..
Change in business inventories
109.0
Durable goods
Final sales
Change in business inventories
977
974
Nondurable goods
Final sales
Change in business inventories
123.3
121.3
996
993
1203 125.9
120.4 126.0
981
976
124.5
125.9
1246 125.8
126.9
127.9
1269 1280
112.8 113.2 1138
111.2 1114 112.4 113.1 1138
111.1 111.4
987
982
992
987
992
990
1216 1236 1234 126.1 126.8 127.3
121.2 123.8 1236 125.7 1268 127.7
133.4
139.6
134.0
135.5
137.6
138.9
140.3
Structures
118.5
123.7
118.8
120.0
1219
123.4
124.6
141.6
125.1
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 7.6.—Implicit Price Deflators for Gross National Product by Sector
[Index numbers, 1982=100]
Gross domestic product
Business
Nonfarm .....
Nonfarm less housing
Housing
Statistical discrepancy
121.3
121.3
1193
1 19.6
1178
138.3
1046
119.3
126.3
121.9
126.3
124.0
124.3
1223
145.7
1104
124.0
121.9
119.9
119.9
118 1
139.0
1173
119.9
123.3
123.3
121 3
121.6
1199
140.8
101 8
121.3
124.5
124.5
1223
122.5
1207
142.0
1130
122.3
125.9
125.9
123.6
123.8
1220
143.3
1157
123.6
126.9
126.9
1245
124.8
1228
147.6
1095
124.5
127.9
127.9
1255
126.0
1238
150.0
1035
125.5
Households and institutions
Private households
Nonprofit institutions
1370 1439 1372 139 1 141 0 1424 1448 1472
1059 1073 1061 1064 1070 1074 107.4 1076
139.1 146.3 139.3 141.3 143.2 144.7 147.3 149.8
Government
Federal
State and local
1345 141.5 135.1
127.2 133.7 127.5
138.1 145.4 138.9
Rest of the world
123.3
128.8
124.0
136.4 139.5 140.9 142.1 143.4
127.7 133.1 133.7 133.9 134.1
140.7 142.6 144.4 146.3 148.1
125.5 126.8 128.3 129.4 130.7
Addendum:
Gross domestic business product less housing... 117.6
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
[Index numbers, 1982=100]
Gross national product
121.3
Less' Net exports of goods and services
Exports
Imports ...
1033 1062 1047 105 1 1063 1066 1060 1059
1027 1049 1027 1040 105.6 1059 1036 1044
Equals: Gross domestic purchases
Plus: Command-basis net exports of goods and
services
Command-basis exports
Equals: Command-basis gross national
product
126.3
121.9
123.3
124.5
125.9
126.9
127.9
120.9
125.8
121.3
122.8
124.2
125.5
126.2
102.7
102.7
104.9
104.9
102.7 104.0
1027 104.0
105.6
105.6
105.9
105.9
103.6 104.4
1036 104.4
121.2
126 1 1216 123.1
127.4
1244 1258 1264 127.7
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 7.9.—Fixed-Weighted Price Indexes for Personal Consumption
Expenditures by Major Type of Product, 1982 Weights
[Index numbers, 1982=100]
999 1000
998 996
Services
Gross national product
Table 7.8.-—Implicit Price Deflators for Command-Basis Gross National
Product
Personal consumption expenditures
Durable goods
Motor vehicles and parts
Furniture and household equipment
Other
Nondurable goods
Food
Clothing and shoes..
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
Services
..
..
Housing
Household operation
Electricity and gas .
Other
Transportation
Medical care
Other
126.6
128.1
115.1 113.2
114.1
125.9 131.8
112.9
1186 1205 1189
103.8 105.0 104.2
118.5 123,5 118.8
117.2 123.8 118.1
122.2
115.8
791
127.5
768
134.5
129.2
118.5
865
135.3
804
142.7
135.5
136.4
1199
1127
1274
126.6
144.5
137.9
141.9
142.7
1226
1158
1297
130.5
154.5
144.1
123.5
115.1
804
128.2
775
1352
136.2
137.1
1198
1120
1279
127.6
146.0
138.2
129.6
114.7
131.6 132.3 133.8
114.7 115.2 115.9
1195 1205 1206 120 1 1209
104.7 104.8 104.1 1053 105.8
121.1 121.7 123.0 124.2 125.2
119.4
121.0
124.5
124.3
125.6
124.9
117.9
791
1298
739
137.4
126.6
118.2
799
132.1
776
139.4
138.1
139.8
129.0
119.9
927
134.4
802
141.6
141.1
131.4
119.1
850
138.6
83.2
146.0
144.3
138.9
121 7
1147
1288
128.5
148.5
139.9
140.2
1224
1155
1295
130.4
151.3
141.5
141.4
1224
1156
1294
130.5
153.5
143.4
1299
116.7
882
136.3
805
1438
142.6
143.5
1222
1149
1297
130.0
155.7
145.0
145.6
1237
117.3
1303
131.2
157.6
146.3
Table 7.14.—Fixed-Weighted Price Indexes for Exports and Imports of Goods
and Services, 1982 Weights
[Index numbers, 1982=100]
Exports of goods and services
Merchandise
Durable goods
Nondurable goods
..
Services
Factor income
Other
Imports of goods and services
Merchandise
..
.
Durable goods
Nondurable goods
Services
Factor income ..
Other
.
.
111.2
114.5
112.6
1133 113.7
104 1 1062 1062 1063
104.3 1066 1051 1055
1039 1052 108 1 1080
1213 1265 121 9 1233
1242 1298 1248 1264
1163 1207 1168 1179
, 106.3 110.7 106.2 107.3
995 1032 991
118.0 120.2 117.8
80.0 85.3 80.1
1260 1321 1268
1233 1288 1240
128.1 134.7 129.1
114.6
114.4
114.6
1061 1068 1057 1054
1058 1066 1067 1074
107 1 1067 1043 1028
1248 126 1 127 1 1280
1277 1293 1304 131 8
1196 1204 1213 1213
109.5 111.1 109.8
998 1025 1045 102 1
120.5 121.0 119.9 119.5
78.7 83.5 87.9 84.3
1293 1303 1314 1324
1255 126.8 128.4 1295
132.2 133.0 133.7 134.7
111.0
103 1
120.0
85.6
1345
130.8
137.3
15
SURVEY OF CURRENT BUSINESS
February 1990
Table 7.15.—Fixed-Weighted Price Indexes for Merchandise Exports and
Imports by Type of Product and by End-Use Category, 1982 Weights
Table 7.16.—Fixed-Weighted Price Indexes for Government Purchases of
Goods and Services by Type, 1982 Weights
[Index numbers, 1982=100]
[Index numbers, 1982=100]
Seasonally adjusted
1988
Merchandise exports
Foods, feeds, and beverages
Industrial supplies and materials
Durable goods
Nondurable goods
Capital goods except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
.
..„
Merchandise imports
Foods, feeds, and beverages
Industrial supplies and materials, excluding
petroleum
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
1988
1989'
Seasonally adjusted
1989
1988
HI
IV
I
II
106.3
106.1
106.8
105.7 105.4
106.8
104.4
104.4
104.4
103.7
118.6
115.8
110.1
120.3
102.2
94.2
110.2
104.6
105.2
105.3
105.2
104.7
118.7
115.8
110.7
119.9
102.8
95.1
110.5
100.3
103.5
104.7
103.1
105.4
120.0
116.2
109.8
121.3
100.0
90.3
109.8
96.4
102.9
103.3
102.7
106.2
121.3
116.3
109.5
121.6
101.3
93.3
109.4
99.8 102.5
104.5
104.1
106.2
106.2
99.6
104.1
104.1
104.0
102.6
115.6
111.7
106.4
115.9
101.0
94.2
107.7
102.1
104.0
104.4
103.9
105.1
119.6
116.0
110.0
120.8
101.6
93.2
109.9
109.0 108.3
105.8 105.7
105.8 105.7
105.8 105.7
102.8 103.4
116.9 117.6
111.8 113.1
107.3 107.8
115.3 117.2
103.3 102.2
96.3 93.8
110.2 110.5
UI
TV'
99.5
103.2
99.1
102.1
103.1
109.9
105.1
110.3
110.6
109.9
108.9 101.6
100.6
,. 104.1
104.1
104.0
45.6
115.3
132.4
123.1
. . . 119.2
128.7
119.2
119.2
119.2
108.2
107.2
109.2
54.5
116.5
135.5
125.8
121.0
132.5
121.4
121.4
121.4
105.2
105.2
105.1
45.2
114.6
132.4
122.7
118.4
128.7
119.2
119.2
119.2
107.4
107.4
107.4
40.8
118.0
135.2
124.4
120.6
129.9
121.7
121.7
121.7
110.1
110.0
110.1
49.4
117.6
135.5
125.2
121.0
131.1
122.5
122.5
122.5
109.3
109.0
109.6
58.7
116.3
134.3
125.3
120.3
132.3
121.5
121.5
121.5
106.0
104.0
108.1
56.4
116.0
137.5
126.9
121.9
134.0
121.0
121.0
121.0
107.3
105.7
109.0
53.5
116.5
134.7
125.6
120.7
132.5
120.7
120.7
120.7
125.9
126.9
117.9
122.9
118.7
119.3
117.9
109.3
73.9
125.8
127.2
126.7
128.1
123.2
124.2
122.5 118.3
111.4 109.6
75.4 75.7
131.5 126.0
133.6 127.5
133.0 127.1
134.8 128.2
127.5 123.2
133.6 123.8
118.0
101.6
123.8
105.3
130.5
131.4
132.5
122.7 123.0
123.4
119.0
110.1
74.7
126.9
127.7
127.3
128.3
125.5
128.8
122.0
112.2
74.9
130.5
133.1
132.6
134.1
125.5
130.8
122.5
111.5
76.7
131.3
133.5
132.8
134.9
127.1
132.1
122.5 122.9
111.1 110.6
74.4 75.6
131.8 132.4
133.7 134.0
133.0 133.4
135.1 135.1
128.1 129.3
134.2 137.3
119.7
101.7
120.0
103.3
123.0
104.6
123.2
104.8
124.2
105.3
124.7
106.3
98.6 104.8
124.2 130.1
127.5 134.0
119.2 124.1
115.2 120.1
98.1
124.5
127.6
119.7
115.9
99.8
124.9
127.7
120.6
116.6
103.1
128.9
133.4
122.1
118.2
104.0
129.9
134.1
123.4
119.6
105.2
130.6
134.3
124.8
120.8
106.8
131.0
134.3
125.9
121.6
.
130.4
136.9
131.2
132.6
134.7
136.2 137.6
139.1
,
113.4
97.3
136.7
137.8
131.6
119.6
117.4
103.7
144.0
145.5
137.5
123.7
114.0
97.7
137.8
139.0
132.3
120.4
115.0
98.4
139.5
140.8
133.4
121.3
116.2
101.8
141.5
142.7
135.8
122.9
117.0
104.2
143.2
144.5
137.0
123.2
118.7
105.3
146.6
148.2
139.1
124.5
Nondefense.
Durable goods
,....
Nondurable goods
Commodity Credit Corporation inventory
change . .
.
Other nondurables
Services
t
Compensation of employees
Other services
Structures
.. . . .
,
125.1 130.9
122.3
Services
Compensation of employees
Military..
.
.
Civilian
Other services
Structures
.. .
I
129.4
.
Durable goods
Nondurable goods t
Services....
Compensation of employees
Other services
Structures
,
IV
III
Federal
State and local
1989
HI
II
Government purchases of goods and
services
National defense
Durable goods
1988
1989'
117.7
103.5
144.9
146.4
137.9
123.9
IV'
Table 7.17.—Fixed-Weighted Price Indexes for National Defense Purchases of
Goods and Services, 1982 Weights
Table 7.18.—Current-Dollar Cost and Profit per Unit of Constant-Dollar Gross
Domestic Product of Nonfinancial Corporate Business
[Index numbers, 1982=100]
Seasonally adjusted
1988
1988
1989'
III
[Dollars]
1989
IV
I
II
Seasonally adjusted
HI
IV'
1988
National defense purchases .
Durable goods
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment
Other
Other durable goods ...
Nondurable goods..:
Petroleum products .
Ammunition
Other nondurable goods
Services
..^
„..
„
„
„
Compensation of employees
„
Military
Civilian
Other services
Contractual research and development
Installation support l
Weapons support 2 ..
Personnel support 3
Transportation of materiel
Travel of persons
Other
Structures
Military facilities
Other
117.9
122.5 118.3
119.0
122.0
122.5
122.5
122.9
109.3
111.4
110.1
112.2
111.5
111.1
110.6
112.6 111.0 111.4
107.0 107.0 106.6
116.6 117.4 118.1
131.7 126.6 127.3
92.3 90.6 91.0
111.1 108.1 109.2
116.4 112.3 113.9
105.6 103.0 103.9
113.8
110.5
118.7
130.2
90.2
110.6
115.2
105.0
112.8
106.6
119.7
131.6
91.5
111.0
116.0
105.5
112.2
106.4
114.4
132.3
93.1
111.3
116.6
105.8
111.6
104.3
113.6
132.6
94.2
111.4
117.8
106.2
75.4
75.7
74.9
76.7
74.4
75.6
58.2 58.8
98.9 102.3
115.5 119.0
60.6
99.3
115.7
58.7 58.5
99.5 101.1
117.8 118.1
60.9
102.1
118.5
57.2
102.4
118.8
58.4
103.6
120.5
131.5
126.0
126.9 130.5
131.3
131.8
132.4
133.6
133.0
134.8
127.5
124.7
136.1
121.8
158.1
97.6
111.9
127.5 127.7
127.1 127.3
128.2 128.3
123.2 125.5
120.9 122.1
131.2 132.8
117.7 119.2
152.6 161.2
93.4 99.0
108.5 108.8
133.1
132.6
134.1
125.5
122.2
132.8
119.9
157.9
99.8
111.9
133.5
132.8
134.9
127.1
125.3
135.0
121.1
155.6
97.5
111.5
133.7
133.0
135.1
128.1
125.3
137.6
122.8
157.0
96.5
111.0
134.0
133.4
135.1
129.3
125.9
139.1
123.3
161.7
96.4
113.0
. . . . 124.2
133.6
123.8
128.8
130.8
132.1
134.2 137.3
125.3
122.6
135.6
130.6
124.5
122.9
132.3 132.5
123.6 128.4
133.2
130.3
135.8 140.8
131.7 132.1
110.8
106.9
117.7
125.6
89.8
108.1
111.9
, 102.4
73.9
, 125.8
127.2
126.7
128.1
123.2
120.3
130.6
117.6
156.5
94.6
107.2
109.6
74.7
1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors
to operate installations.
2. Includes depot maintenance and contractual services for weapons systems.
3. Includes compensation of foreign personnel, consulting, training, and education.
Current-dollar cost and profit per unit
of constant-dollar gross domestic
product '
Capital consumption allowances with capital
consumption adjustment
Net domestic product
Indirect business tax and nontax liability plus
business transfer payments less subsidies
Compensation of employees
Corporate profits with inventory valuation
and capital consumption adjustments
Profits tax liability
Profits after tax with inventory valuation
and capital consumption adjustments
Net interest
,
1.129 1.171
1989
1988
1989'
III
IV
1
H
m
1.132
1.148
1.156
1.168
1.176
.123
.128
.122
.124
.125
.126
.129
1.006
1.043
1.009
1.024
1.031
1.042
1.047
.107
.899
.744
.111
.932
.782
.108
.901
.746
.108
.916
.756
.110
.921
.768
.111
.931
.778
.112
.935
.783
.103
.044
.090
.039
.102
.044
.105
.045
.096
.045
.093
.041
.091
.038
.059
.052
.051
,060
.058
.053
.061
.055
.051
.057
.053
.060
.053
.061
IV
1. Equals the deflator for gross domestic product of nonfinancial corporate business with the decimal point
shifted two places to the left.
16
SURVEY OF CURRENT BUSINESS
February 1990
Table 8.1.—Percent Change From Preceding Period in Selected Series
[Percent]
Seasonally adjusted at annual rates
1988 1989 '
1988
III
Gross national product:
Current dollars
1982 dollars
Implicit price deflator
F'
H
h H
'
'"H
. ..
*
Personal consumption expenditures:
Current dollars '
1982 dollars '
_ P. ? . ,
, . . , . "*."j
'
Durable goods:
Current dollars
1982 dollars
Implicit price deflator
Fixed-weighted price index
Nondurable goods:
Current dollars
1982 dollars
implicit price aenator
u. ai p ce ae
Services:
Current dollars!
Chain price index
Fixed-weighted price index
Gross private domestic investment:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
IV
I
11
III
7.2
3.0
4.1
4.2
4.5
7.5
3.2
4.4
4.4
5.2
7.5
2.7
4.7
4.1
4.3
7.9
3.7
4.0
4.6
4.8
7.1
2.5
4.6
4.9
5.0
6.2
3.0
3.2
2.8
2.9
4.4
.9
3.2
3.5
3.6
7.4
3.4
3.9
4.1
4.3
7.3
2.7
4.4
4.5
4.7
7.5
3.3
3.9
4.3
4.6
7.6
3.0
4.6
4.8
4.9
7.1
2.0
4.8
4.7
4.8
7.6
1.9
5.7
5.8
6.3
7.6
5.6
1.9
2.1
2.2
4.S
.4
4.4
4.3
4.4
8.1
6.2
1.9
2.2
2.4
3.9
2.8
1.1
1.8
2.0
-1.8
39
2.2
2.8
3.1
13.8
9.9
3.7
3.1
3.2
-.9
-1.1
0
2.1
2.0
4.0
5.5
-1.4
-.3
0
13.5 -13.3
11.3 14 2
2.2
1.1
1.4
2.6
1.6
2.5
5.4
1.6
3.7
4.0
4.1
6.8
1.4
5.3
5.4
5.7
9.5
5.0
4.2
4.6
5.0
4.7
.7
3.8
4.5
4.5
7.6
1.3
6.2
5.5
5.5
8.7
-2.3
11.5
11.5
12.0
3.6
5.0
-1.3
-1.0
-.6
4.1
.3
3.6
4.5
4.1
8.5
3.8
4.6
4.7
4.8
8.5
3.7
4.7
4.7
4.7
8.9
4.5
4.2
4.4
4.7
7.9
2.6
5.1
5.4
5.5
8.9
3.6
5.0
5.0
4.9
7.9
3.8
4.1
4.1
3.9
8.7
4.3
4.0
4.2
4.3
10.3
5.6
4.6
4.7
4.9
3.2
.8
12.7 -9.2
11.8 -12.7
9.2
6.9
2.8
-.7
2.1
2.7
-2.8
-2.5
.
7.3
5.8
1.5
2.6
3.3
3.7
1.5
2.2
3.2
3.9
4.2
2.4
1.9
1.4
2.1
4.3
-3.0
7.5
3.8
4.2
4.4
3.4
.8
4.1
5.0
3.1
2.4
.8
3.7
3.9
2.2
1.1
1.1
3.0
3.5
-4.0
-4.9
.7
2.5
3.2
9.7
8.4
1.2
2.4
3.4
5.0
3.3
1.6
2.9
3.8
5.1
2.6
2.5
1.9
2.7
2.1
-6.5
9.2
4.4
4.7
6.0
6.9
-.8
3.2
4.7
7.7
8.6
-.8
2.1
3.0
5.7
5.2
.4
2.3
3.1
-6.3
-6.4
.4
2.7
3.5
4.9
-.1
5.0
4.5
5.2
3.3
-1.8
5.1
4.3
4.7
6.1
1.6
4.3
4.2
5.5
1.4
-5.1
6.8
3.9
4.5
6.3
-1.0
7.7
4.8
5.3
-6.2
-9.5
3.7
4.6
4.2
11.1
8.0
3.0
4.5
3.9
0*
.7
3.5
3.1
11.7
11.5
.1
1.6
2.2
5.7
4.9
.8
2.4
3.3
4.8
2.9
1.7
1.0
1.0
2.3
-6.9
10.3
4.6
4.8
6.0
9.6
-3.3
2.6
4.4
13.6
14.8
-1.3
1.1
2.2
3.6
4.6
-.8
1.4
2.6
-9.1
-8.4
-.8
2.5
3.8
Structures:
1982 dollars
Implicit price deflator
Chain price index
Producers' durable equipment:
Current dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
2.7
-.4
3.0
3.1
3.1
1.0
-2.8
4.0
4.0
4.0
1.9
1.9
.3
.3
.3
9.2
6.3
2.7
2.7
2.6
Exports of goods and services:
Current dollars '
1982 dollars '
Implicit price deflator
Chain price index
Fixed-weighted price index
22.1
17.6
3.8
4.9
5.3
14.2
11.1
2.8
2.5
2.9
19.5
9.7
8.9
9.0
9.9
17.5
15.5
1.5
2.0
2.4
Imports of goods and services:
Current dollars '
1982 dollars '
Implicit price deflator
Chain price index
Fixed-weighted price index
10.7
6.8
3.7
5.3
5.0
8.3
6.1
2.1
3.7
4.1
10.6
10.2
.4
.5
.3
18.9
12.6
5.2
5.0
4.2
,
.7 -6.1
-5.0 -12.3
5.8
7.1
5.9
7.3
5.8
7.2
-5.0
-9.2
4.6
4.7
4.6
1.2
-.6
1.9
2.0
2.0
19.1
14.0
4.6
1.5
1.6
14.2
13.1
1.1
2.3
2.5
1.5
3.9
-2.2
-.9
-.4
8.2
8.6
-.4
.8
.6
5.7
-.4
6.3
7.2
8.6
10.7
9.3
1.1
4.4
5.7
-1.8
7.4
-8.4
-3.6
-4.4
5.2
2.0
3.1
3.6
4.5
1. Percent changes for 1986 and the first quarter of 1986 reflect discontinuities in the series.
NOTE.—The fixed-weighted price index and the chain price index, both of which are weighted averages of
the detailed prices used in the deflation of GNP, are measures of price change. In calculating changes in
these indexes, the composition of GNP is held constant. Consequently these changes reflect only changes in
prices. The fixed-weighted price index measures price change over any period, using as weights the
composition of GNP in 1982. The chain price index measures price change between two consecutive periods,
IV
I
n
m
rv'
6.9
2.6
4.2
4.3
4.7
-.6
-3.6
3.0
1.9
4.7
23.9
16.7
6.3
3.8
3.5
1.8
-3.3
5.5
8.0
8.0
6.9
5.4
1.3
3.7
3.3
2.2
-2.4
4.8
2.9
2.8
6.7
1.3
5.4
3.2
3.3
-.1
-3.2
3.1
2.3
4.1
5.7
2.4
3.2
3.4
4.2
-9.8
-9.5
-.3
-2.2
4.4
49.5
33.7
12.0
3.1
2.1
-7.1
-9.4
2.4
10.2
10.4
7.2
10.0
-2.3
2.4
1.2
-3.2
-8.4
5.5
1.8
1.2
1.3
-4.9
6.5
1.2
1.4
National defense:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
1.1
-1.4
2.6
2.2
3.6
1.4
-1.9
3.3
3.4
3.9
-2.5
-5.5
3.2
2.1
2.0
6.1 -2.4
4.4 -10.6
1.8
9.0
2.8
9.6
2.5 10.4
3.5
2.2
1.4
1.8
1.6
8.9
6.9
1.7
1.4
.3
-8.3
-6.7
-1.7
.9
1.4
Nondefense:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
-4.0
-9.4
5.9
2.4
5.4
20.9
19.1
1.5
3.7
4.9
-33.6 383.9 -19.2
18.3 -32.5
37.4 -43.9
-24.3 231.3 -5.7
-12.3
45.9 -14.4 -14.1
20.9
4.2 11.8
-16.7
4.1
2.8
1.2 10.4
10.6
.4
3.4
37.7
1.6
34.8
2.1
1.5
7.9
3.2
4.5
4.7
4.9
7.7
2.8
4.8
4.9
5.0
5.6
.9
4.8
4.7
4.8
9.7
5.7
3.8
4.2
4.4
8.2
1.5
6.6
6.6
6.4
6.8
2.2
4.6
4.6
4.7
5.9
2.2
3.6
3.6
3.9
10.3
5.9
4.2
4.5
4.6
3.3
3.8
4.2
2.4
4.3
4.6
3.4
3.5
4.3
2.5
4.5
4.5
1.8
5.2
5.5
2.1
5.1
5.4
3.5
2.4
2.5
3.9
4.0
4.3
3.7
4.2
3.1
4.2
4.5
1.6
4.3
5.2
4.7
4.1
4.3
3.1
4.6
4.8
3.1
4.9
5.0
2.7
2.8
2.9
.5
3.5
3.6
3.2
3.8
4.2
2.5
4.3
4.6
1.8
3.4
4.3
4.5
4.4
4.5
1.2
5.3
5.5
2.7
5.1
5.3
3.3
2.4
2.5
-.4
3.9
4.0
Command-basis gross national product:
1982 dollars
Implicit price deflator
4.5
3.3
3.1
4.0
4.3
3.0
2.2
5.0
3.5
4.3
2.5
4.6
4.0
1.9
.4
4.2
Gross domestic product:
1982 dollars
Implicit price deflator
4.4
3.3
3.0
4.1
3.1
4.0
2.5
4.7
3.8
4.0
2.9
4.6
2.8
3.2
.5
3.2
4.6
3.1
3.0
3.9
3.0
4.5
2.5
4.8
3.9
3.3
2.8
4.3
2.8
2.9
.3
3.3
5.2
2.8
3.2
3.9
4.4
3.4
4.6
5.8
2.4
3.0
2.8
4.3
3.6
3.3
.1
3.9
8.5
4.4
8.7
4.1
9.1
4.9
8.9
4.3
11.9
6.6
6.5
.8
6.5
4.4
7.2
2.7
Federal:
Current dollars
.
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
State and local:
Current dollars
1982 dollars .
.
Implicit price deflator
.
.
.
....
Fixed-weighted price index
Addenda:
Gross domestic purchases:
1982 dollars
Final sales:
1982 dollars
Fixed-weighted price index
Final sales to domestic purchasers:
1982 dollars
Chain price index
Business:
1982 dollars
Implicit price deflator
Nonfarm:
1982 dollars
Implicit price deflator
.....
Disposable personal income:
1982 dollars
Residential:
Current dollars
1982 dollars
Implicit price deflator.
Chain price index
Fixed-weighted price index
1989
III
4.6
.4
4.1
3.7
4.6
Fixed-weighted price index....
Nonresidential:
Current dollars
1982 dollars
Implicit price deflator
Government purchases of goods and services:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
1988
1989'
IV'
7.9
4A
3.3
3.7
4.2
7.2
6.2
Fixed investment:
Current dollars
....
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Fixed-weighted price index
Seasonally adjusted at annual rates
1988
1989
using as weights the composition of GNP in the first period. The implicit price deflator is a byproduct of the
deflation of GNP. It is derived as the ratio of current- to constant-dollar GNP (multiplied by 100). It it the
average of the detailed prices used in the deflation of GNP, but the prices are weighted by the composition
of GNP in each period. Consequently, the implicit price deflator reflects not only changes in prices but also
changes in the composition of GNP, and its use as a measure of price change should be avoided.
February 1990
17
SURVEY OF CURRENT BUSINESS
Reconciliation and Other Special Tables
Table L—Revisions in Selected Component Series of the NIPA's, Fourth Quarter of 1989
Percent change from
preceding quarter at annual
rates
Seasonally adjusted at annual rates
Advance
Preliminary
Difference
Preliminary
Advance
Billions of current dollars
GNP
5,337.0
5,337.6
0.6
4.3
4.4
3,230.1
3,225.6
-4.5
7.5
6.9
National income
Compensation of employees
Corporate profits with inventory valuation and capital consumption
adjustments
Other
.
834.4
834.2
-.2
7.1
7.0
4,540.9
4,537.4
-3.5
7.9
7.5
Billions of constant (1982) dollars
GNP
Less' Exports....
Plus' Imports
. . .
Equals: Gross domestic purchases
Personal consumption expenditures
Nonresidential fixed investment
Residential investment ,
Change in business inventories
Government purchases
. .
.
.
4,168.1
4,172.4
4.3
.5
.9
600.2
662.0
605.4
653.5
5.2
-8.5
4.9
7.5
8.6
2.0
4,229.9
4,220.6
-9.3
.9
.1
2,689.3
514.0
186.0
32.6
807.9
2,692.6
509.4
184.5
26.2
807.9
3.3
-4.6
-1.5
-6.4
0
-.1
-3.0
2.6
.4
-6.4
-.6
1.3
1.3
3.8
3.7
3.5
4.1
3.6
3.5
3.2
4.0
Index numbers, 1982=100 '
GNP price index (fixed weights)
GNP price index (chained weights)
GNP implicit price deflator
.
Gross domestic purchases price index (fixed weights)
131.4
131.4
0
128.0
131.2
127.9
131,2
-.1
0
1. Not at annual rates.
NOTE.—For the fourth quarter of 1989, the following revised or additional major source data were incorporated: For personal consumption
expenditures, revised retail sales for November and December, for nonresidential fixed investment, construction put in place in November (revised)
and December, manufacturers' shipments of equipment for November (revised) and December, and partial information on plant and equipment
expenditures for the quarter, for residential investment, construction put in place for November (revised) and December; for change in business
inventories, manufacturing and trade inventories for November (revised) and December; for net exports of goods and services, merchandise exports
and merchandise imports for November (revised) and December, and partial information on inflows of investment income for the quarter; for
government purchases of goods and services, Federal outlays for December, and State and local construction put in place for November (revised)
and December; for wages and salaries, revised employment, average hourly earnings, and average weekly hours for November and December, and
for GNP prices, detailed merchandise export and import price indexes for December, unit-value indexes for petroleum imports for December, and
residential housing prices for the quarter.
Table 2.—Reconciliation of Changes in BEA-Derived Compensation Per Hour with BLS Average Hourly
Earnings
[Percent change from preceding quarter at seasonally adjusted annual rates]
1989
BEA-derived compensation per hour of all persons in the nonfarm business sector (less housing)
l
Less: Contribution of supplements to wages and salaries per hour
I
II
5.2
5.2
-8
2
III'
IV
5.4
6.1
0
1
-1
Plus: Contribution of wages and salaries per hour of persons in housing and in nonprofit institutions
0
Less: Contribution of wages and salaries per hour of persons in government enterprises, unpaid family workers,
and self-employed
-3
0
o
-3
Equals: Wages and salaries per hour of all persons in the nonfarm private business sector
6.3
5.2
5.7
6.2
-1.0
1.8
1.9
-4
1.8
-.3
-3
1.8
.1
-4
1.8
3.6
4.0
4.1
38
Less contribution of:
Wages and salaries per hour of nonproduction workers in manufacturing
BEA adjustment to average hourly earnings2
Other differences3
.
Equals: BLS average hourly earnings of production or nonsupervisory workers on private nonagricultural
payrolls
. .
.
r
.2
.3
11
Revised.
p
Preliminary.
1. The Bureau of Labor Statistics (BLS) estimates of changes in compensation per hour in the nonfarm business sector for the four quarters are
4.9, 5.6, 5.3, and 6.9 percent.
2. For a discussion of this adjustment, see page 19 of the July 1988 SURVEY OF CURRENT BUSINESS.
3. Includes BEA use of non-BLS data and differences in detailed weighting and seasonal adjustment procedures.
18
SURVEY OF CURRENT BUSINESS
February 1990
Table 4.—Gross National Product in 1982 and 1987 Dollars; Annual and
Quarterly Percent Changes
Table 3.—Gross National Product in 1987 Dollars
[Billions of 1987 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1989
1989"
I
II
IIP
1989
1989 '
IV
Personal consumption expenditures
Durable goods
Nondurable goods..
Services
.
Gross private domestic investment
Fixed investment
.
Nonresidential
Structures
.
.
Producers' durable equipment
Residential
Change in business inventories
,
.
. .
Government purchases of goods and services
Federal
Nondefense
State and local
3,192.1 3,159.5 3,173.6 3,216.5 3,218.9
454.8
467.8
450.0
448.8
455.3
1,025.9 1,024.6 1,018.6 1,030.7 1,029.6
1,710.9 1,684.9 1,700.3 1,718.0 1,740.5
733.3
706.3
487.3
133.3
354.0
219.0
27.0
738.0
710.2
482.9
135.2
347.7
2273
27.7
734.7
709.7
489.8
131.6
358.2
219.9
25.0
731.9
708.5
493.8
133.5
360.3
214.6
23.4
728.5
696.8
482.6
132.7
349.9
214.2
31.7
-37.3
582.1
619.4
^14.2
565.3
609.5
-38.0
581.2
619.2
-37.3
585.8
623.1
-29.6
596.1
625.8
955.2
378.9
284.6
948.1
377.5
282.0
95.6
570.6
957.8
384.3
283.8
100.4
573.5
956.5
379.9
289.8
90.0
576.6
958.4
373.8
282.6
91.3
584.5
94;3
,
576.3
Addenda:
Gross domestic purchases
Final sales
GNP price index (fixed weighted), 1987=100
r
4,880.6 4,845.6 4,866.1 4,904.9 4,905.8
, 4,816.4 4,773.6 4,803.1 4,844.2 4,844.5
108.2
106.6
107.9
108.7
109.6
Revised.
' Preliminary.
NOTE.—For background information about tables 4 and 5, see "Alternate Measures of Real GNP" in the
April 1989 SURVEY OF CURRENT BUSINESS. Revised estimates beginning in 1986 appeared on page 19 of the
August 1989 SURVEY and page 20 of the November 1989 SURVEY.
IV
4,843.3 4,801.3 4,828.1 4,867.6 4,876.2
GNP
Net exports of goods and services
Exoorts
cxpum
Imports
rar
n
I
GNP:
1987 dollars
1982 dollars
Personal consumption expenditures:
1987 dollars
1982 dollars . . .
Durable goods:
1987 dollars
1982 dollars
Nondurable goods:
1987 dollars . . . .
1982 dollars
,
Services:
1987 dollars
1982 dollars
Gross private domestic investment:
1987 dollars
. .
1982 dollars
Fixed investment:
1987 dollars
1982 dollars
Nonresidential:
1987 dollars
1982 dollars
Structures:
1987 dollars
1982 dollars
Producers' durable equipment:
1987 dollars
1982 dollars
....•'.
Residential:
1987 dollars
1982 dollars
Change in business inventories:
1987 dollars
1982 dollars
Net exports of goods and services:
1987 dollars
1982 dollars
.
Exports:
1987 dollars
1982 dollars
.
.
Imports:
1987 dollars
1982 dollars
Government purchases of goods and services:
1987 dollars
1982 dollars
Federal:
1987 dollars
1982 dollars
National defense:
1987 dollars
1982 dollars
Nondefense:
1987 dollars
1982 dollars
State and local:
1987 dollars
1982 dollars
2.9
3.0
3.1
3.7
2.3
2.5
3.3
3.0
.7
.9
2.7
2.7
2.3
2.0
1.8
1.9
5.5
5.6
.3
.4
4.3
5.5
11.9
11.3
2.2
2.8
......
,
-2.5
-1.1
-15.3
-14.2
1.4
1.4
2.0
1.3
-2.3
-2.3
4.8
5.0
-.4
.3
3.6
3.7
3.8
3.6
3.7
3.8
4.2
4.3
5.3
5.6
.2
.8
1.8
6.9
-1.8
_1
-1.5
2.7
-1.8
-2.5
.7
1.5
1.1
3.4
-.3
2.4
-.7
1.1
-6.4
-4.9
2.4
3.3
4.1
6.9
5.8
8.6
3.3
5.2
-8.8
-6.4
-.7
-1.8
2.1
-1.0
5.9
8.0
-2.4
0
3.7
4.9
4.9
9.6
2.4
4.6
-11.1
-8.4
-2.9
-2.8
-4.8
-5.0
11.4
11.1
16.7
14.0
4.7
6.1
-10.2
-9.5
12.6
14.8
-12.4
-12.3
-9.3
-9.2
-.7
-.6
11.7
13.1
3.2
3.9
7.2
8.6
-1.2
-.4
6.5
9.3
2.5
7.4
1.7
2.0
2.0
2.6
-3.2
-3.3
4.2
5.4
-.5
-2.4
.8
1.3
1.1
2.4
-9.9
-9.4
7.4
10.0
-4.5
-8.4
-6.3
-4.9
2.6
2.2
8.7
6.9
-9.6
-6.7
,
-2.0
-1.9.
-11.2
-10.6
11.6
19.1
-6.0
-5.7
21.6
37.4
-35.4
-43.9
5.9
1.6
2.7
2.8
1.6
1.5
2.0
2.2
2.2
2.2
5.6
5.9
2.2
2.4
1.1
1.8
1.7
2.1
3.2
3.5
.1
.1
3.0
3.1
3.0
3.1
2.5
3.1
3.5
2.7
0
.5
GNP price index (fixed weighted):
1987-100
1982=100
4.3
4.5
4.7
4.8
5.0
5.0
2.8
2.9
3.6
3.6
Real GNP chain output measure
2.9
3.2
2.1
3.3
.9
Addenda:
Gross domestic purchases:
1987 dollars
1982 dollars
Final sales:
1987 dollars
1982 dollars
r
f
Revised. (1987-dollar estimates only).
Preliminary.
February 1990
19
SURVEY OF CURRENT BUSINESS
Composite Indexes of Leading, Coincident, and Lagging Indicators
Recent Data and Percent Changes
1989
Index
Mar.
Feb.
May
Apr.
June
July
Sept.
Aug.
Nov.
Oct.
Dec.
1990
II
Jan.'
||
1989
I
II
III
IV
Index (1982=100)
Leading index
145.6
144.7
145.8
144.2
144.0
144.1
144.8
145.0
'144.4
'144.5
'145.3
145.3
145.4
144.7
144.6
'144.7
Coincident index
132.0
132.0
132.8
132.5
132.8
132.6
133.9
133.5
'133.0
'133,6
'133.9
133.0
131.9
132.7
133.3
'133.5
119.3
120.1
119.3
120.3
120.5
120.1
120.1
119.9
'120.3
120.2
'120.5
119.9
119.2
120.0
120.0
'120.3
Percent change from preceding month (quarter)
Leading index
.
Coincident index
-.3
.2
1.0
-.6
.8
-1.1
.1
.5
.1
'-.4
.1
'.6
0
.7
-.5
0
.6
-.2
.2
-.2
1.0
-.3
'-.4
.5
'.2
-.7
1.0
.6
-.7
.8
.2
-.3
0
-.2
.3
'-.1
'.2
-.5
2.7
.7
.7
'.1
.5
0
'.2
'.2
f Preliminary.
' Revised.
NOTE.—Quarterly data are averages of monthly figures. Quarterly percent changes are computed from quarterly data.
Long-Term Perspective: January 1970 to January 1990
1982 = 100 (Ratio scale)
160 i-
80 L-
-1 80
87
Note.—Peak (P) indicates the end of business cycle expansion and the beginning of recession
(shaded area). Trough (T) indicates the end of business cycle recession and the beginning of
expansion. Business cycle peaks and troughs are designated by the National Bureau of Economic
U.S. Department of Commerce, Bureau of Economic Analysis
88
89
90
Research, Inc. The numbers entered on the chart indicate the length of leads (-) and lags (+) in
months from the business cycle turning dates.
By JOSEPH C. WAKEFIELD
Federal Fiscal Programs
THE
fiscal year 1991 budget, like
its recent predecessors, calls for reductions from baseline outlays—that is,
outlays that would take place without policy changes—to bring the deficit
within the mandated limits of the Balanced Budget and Emergency Deficit
Control Act of 1985 (as amended). The
outlay reductions—which are not as
deep as those in earlier budgets—are
to be implemented by program reductions, terminations and recisions, management improvements, and sales of
loans and physical assets.
To increase receipts, the budget proposes to lower the capital gains tax
(increasing individual income taxes in
the short run as taxpayers realize more
capital gains), to implement management reforms to improve tax collections, to extend social security and
medicare coverage to all State and local government employees (increasing
social insurance contributions), to extend the telephone excise tax, and to
introduce or increase a variety of feessuch as customs fees and airport and
airway fees—to be paid by users and
beneficiaries of Federal services.
The budget shows that national defense outlays increase 2.4 percent in
1991. (In real terms, according to
the administration, national defense
outlays decline 2.1 percent.) Outlays
for the procurement of military hardware decline 2.0 percent in 1991, double the decline in 1990. The largest
increase—15.6 percent—is for the category "atomic energy and other defenserelated activities/' Nondefense outlays
increase 3.2 percent in 1991. (In real
terms, nondefense outlays decline 1.0
percent.) A large increase is proposed
in the category of receipts that are a
direct offset to outlays—called undistributed offsetting receipts.
Economic assumptions
According to the Economic Report of
the President, the administration's eco20
nomic assumptions are for "continued
healthy economic growth and high levels of resource utilization, with inflation low and declining in later years."
The report states that "economic policies and developments during 1989,
particularly the containment of inflation, have set the stage for continued
strong growth."
Table 1.—Economic Assumptions Underlying the
Fiscal Year 1991 Budget
Calendar year
Actual
1988
Estimates
1989
1990
1991
Billions of dollars
GNP:
Current dollars
1982 dollars
4,881
4,024
5,236
4,144
5,583
4,244
6,002
4,379
Incomes:
Personal income
Wages and salaries
Corporate profits before taxes
4,065
2,429
307
4,424
2,626
303
4,701
2,805
360
5,039
3,022
421
Percent change from preceding
year
GNP in current dollars:
Annual average
Fourth quarter
GNP in 1982 dollars:
Annual average
GNP deflator
Annual average
Fourth Quarter
Consumer Price Index: '
Annual average
Fourth Quarter
.
.
...
7.9
7.5
7.3
6.7
6.6
7.0
7.5
7.6
4.4
3.4
3.0
2.7
2.4
2.6
3.2
3.3
3.3
4.0
4.2
4.0
4.1
4.2
4.2
4.1
4.0
4.2
4.8
4.4
3.9
4.1
4.0
4.0
Percent
Unemployment rate:
Annual average
Fourth Quarter
2
5.4
5.3
5.2
5.3
5.4
5.4
5.3
5.2
Insured unemployment rate: 3
Annual average
2.1
2.1
2.2
2.1
Interest rate: 4
91-day Treasury bills
10-year Treasury notes
6.7
8.8
8.1
8.5
6.7
7.7
5.4
6.8
1. Consumer Price Index for urban wage earners and clerical
workers.
2. Percent of labor force, including armed forces residing in the
United States.
3. Insured unemployment under the State regular unemployment!
insurance program, excluding recipients of extended benefits, as percentage of covered employment under that program.
4. Average rate on new issues within a year. The estimates assume,
by convention, that interest rates vary with the rate of inflation.
Source: The Budget of the United States Government, Fiscal Year
1991.
Real GNP is forecast to increase 2.6
percent from the fourth quarter of 1989
to the fourth quarter of 1990 and 3.3
percent to the fourth quarter of 1991
(table 1). Real GNP increased 2.7 percent during 1989, or 1.9 percent when
adjusted for effects of the drought in
late 1988. The Council of Economic
Advisers, in describing the outlook for
1990 in the Economic Report, noted
that the economy was affected by a
number of disruptive events in late
1989. In September, Hurricane Hugo
hit South Carolina, and in October, the
Loma Prieta earthquake hit northern
California. In addition, a strike at
a major aircraft manufacturer halted
work for most of October and November, and exceptionally cold weather in
December may have reduced economic
activity. The Council states that estimates indicate that the "strike alone
subtracted nearly one-half percentage
point from fourth-quarter growth in
real GNP." The Council also states
that the recovery from these events
notwithstanding, "growth is expected
to be relatively slow early in 1990 and
then is expected to gain momentum
later in the year."
The rate of inflation is expected to
edge up slightly in 1990: The GNP deflator is forecast to increase 4.2 percent (fourth quarter to fourth quarter),
compared with 4.0 percent in 1989.
Increases in food and energy prices,
which caused much of the fluctuation
in the rate of inflation in 1989, are expected to be modest in 1990.
The Council states that "in line with
moderate real growth, little change is
expected in the rate of capacity utilization and the rate of unemployment. This will reduce upward pressure on prices caused by sectoral capacity bottlenecks and tightening labor markets." The unemployment rate
is expected to increase slightly to 5.4
percent by the fourth quarter of 1990.
The level of employment is expected
to increase 1.2 million for the year,
February 1990
SURVEY OF CURRENT BUSINESS
and the interest rate for 91-day Treasury bills is expected to decline to 6.7
percent.
For 1990, the Council based the
real GNP increase (fourth quarter to
fourth quarter) on the following assessment. Personal consumption expenditures and nonresidential fixed investment are expected to increase about
the same as in 1989—2 A percent and
4.2 percent, respectively. The continued growth in nonresidential fixed investment is expected because "the need
for further capacity will continue to
stimulate growth in investment, particularly for equipment." Residential
investment is expected to increase 5.1
percent, in contrast to a 6.1-percent decline in 1989. According to the Council,
"further declines in interest rates and
a rebound from slow housing production in 1989 are expected to stimulate
housing construction in 1990. Housing starts are projected to average 1.5
million units at an annual rate by the
fourth quarter of 1990." Inventory
investment is not expected to add to
growth of real GNP in 1990 as it did in
1989. In 1989, inventory investment
Table 2.—Relation of Baseline Budget to the
Budget
[Billions of dollars]
Fiscal year
1990
1991
Receipts
1,072.8 1,156.3
Baseline estimate
Plus: Proposed legislation:
Reduce the capital gains tax
Management reforms
Extend social security coverage to State
and local government employees not
participating in a retirement program
,
Extend medicare hospital insurance
coverage to State and local government
employees..
... ..
Extend and modify collection of telephone
excise tax
.. ..
Stabilize payroll tax deposit rules
Other
.5
.1
4.9
2.5
2.1
1.7
.2
1.6
.9
.2
1,073.5 1,170.2
Equals' The budget
Outlays
Baseline estimate
Plus: Proposed program increases:
Food stamps
Commerce and housing credit
General science space and technology
Other
Proposed program reductions:
Medicare
.
National defense
Farm income stabilization
Income security
Energy . .
Transportation.
Health
Net interest
Undistributed offsetting receipts:
Federal Communication Commission
fees
Sale of major assets
.. ..
Lease of naval petroleum reserve
Other
Other
Equals: The budget
, 1,194.8 1,241.0
15.2
2.4
IA
1.0
-5.5
-3.2
-2.5
-2.3
-1.5
-1.0
-.7
-.7
,
-2.3
-1.3
-1.0
-.6
-2.6
1,197.2
1,233.3
was largely due to the replenishment
of farm stocks following the drought
and to the accumulation of motor vehicle inventories, particularly in the
fourth quarter; farm inventory investment is expected to be more modest in
1990. According to the Council, "as in
1989, improvements in real net exports
are expected to be smaller and more
gradual over the near term, relative
to the strong gains in 1987 and 1988."
Nonetheless, net exports are expected
to contribute to real GNP growth. Federal Government purchases of goods
and services are expected to decline 2.7
percent, compared with a 3.0-percent
decline in 1989. According to the Council, the 1990 decline reflects "a continued commitment to deficit reduction."
State and local government purchases
are expected to increase 2.0 percent,
slightly slower than in 1989.
Baseline estimates
Baseline estimates show what receipts and outlays would be without
policy change. In concept, they are neither recommended amounts nor forecasts; they are bases with which administration or congressional proposals can be compared. In recent years,
administration budgets presented two
sets of baseline estimates—those for
current services and those required by
the Balanced Budget and Emergency
Control Act of 1985 (as amended and
commonly known as Gramm-RudmanHollings or GRH). To alleviate confusion resulting from various baseline estimates, the fiscal year 1991 budget
presents a single set of baseline estimates. This baseline conforms to GRH
requirements and can be used to determine whether automatic spending
reductions are necessary to meet the
1991 deficit target set by GRH. The
level of receipts generally assumes that
tax changes occur as scheduled under
current law, and the level of outlays is
generally that needed to maintain ongoing Federal programs and activities
in real terms. The estimates are based
on the same economic assumptions as
those underlying the budget.
Budget receipts are $13.9 billion
higher than baseline receipts, reflecting the administration proposals to
increase receipts, as previously mentioned (table 2). Budget outlays are
$7.7 billion lower than baseline outlays. This estimate reflects an anomaly
to satisfy a GRH requirement to exclude expired programs from the baseline. The baseline, therefore, assumes
21
that the food stamp program, which
is scheduled to expire at the end of
fiscal year 1990, will not be renewed.
The budget includes a renewal of the
program. After adjusting the baseline to include the food stamp program, budget outlays are $22.8 billion
lower than baseline outlays; proposed
program reductions ($25.2 billion) exceed proposed program increases ($2.4
billion).
The largest program increase—$1.4
billion—is for general science, space,
and technology and reflects the administration proposal to increase spending
for basic research, the space shuttle
program, a space station, and exploration, including a mission to Mars.
The largest program reduction—$5.5
billion—is for medicare and reflects
proposals to reduce payments for hospital capital costs, medical education,
and outpatient services. National defense outlays are reduced $3.2 billion by proposals to reduce the number of military personnel, to eliminate weapons systems, and to implement management reforms. Proposals to reduce reliance on price-support
payments and to enforce the cap on
such payments contribute to the reduction in spending for farm income
stabilization. A proposal to eliminate
the January 1991 cost-of-living adjustment for Federal retirees and their
option to withdraw contributions in a
lump sum reduces spending for income
security. A number of proposals—
including the use of competitive bidding to sell certain Federal Communication Commission radio licenses, the
sale of parts of various power marketing administrations, and the lease of
the naval petroleum reserve—increase
undistributed offsetting receipts.
Table 3.—Federal Government Receipts and
Expenditures
[Billions of dollars]
Fiscal year
Actual
Estimates
1989
1990
1991
990.7
1,142.6
-152.0
1,073.5
1,197.2
-123.8
1,170.2
1,233.3
-63.1
1,046.4
1,175.6
-129.2
1,128.3
1,246.5
-118.2
1,239.3
1,287.7
-48.4
-187.7
-162.8
-103.6
Budget
Receipts
Outlays
...
Surplus or deficit (—)
. .
National income and product
accounts
Receipts
Expenditures
Surplus or deficit (—)
Cyclically adjusted surplus or
deficit (-)
Sources: The Budget of the United States Government, Fiscal Year
1991, and the Bureau of Economic Analysis.
22
SURVEY OF CURRENT BUSINESS
The budget estimates
February 1990
Table 4.—Budget Outlays by Function
The budget deficit decreases from
$123.8 billion in fiscal year 1990 to
$63.1 billion in fiscal year 1991 (table 3 and chart 1). Of the $60.7 billion decrease in the deficit, $37.3 billion is the result of an assumed decline in the baseline budget deficit, and
$23.4 billion is the result of the administration's deficit-reduction proposals.
Receipts increase $96.7 billion—or
9.0 percent—in 1991, to $1,170.2 billion. Receipts in 1990 are $1,073.5 billion, up 8.4 percent from 1989. Administration proposals increase receipts
$13.9 billion in 1991. The largest increase is $4.9 billion as a result of lowering the capital gains tax. Extending social security and medicare coverage to all State and local employees increases receipts $3.8 billion, and management reforms increase receipts $2.5
billion.
Outlays increase $36.1 billion—or
3.0 percent—in 1991, to $1,233.3 billion. Outlays in 1990 are $1,197.2 billion, up 4.8 percent from 1989. The
1991 increase is the net result of $51.5
billion in increases and $15.4 billion
in decreases. Table 4 shows budget
outlays by function: Four functions—
national defense, social security, net
interest, and medicare—account for
over one-half of the increase in total outlays. The largest increase—
$16.3 billion—is for social security
CHART 1
Federal Fiscal Position:
Surplus or Deficit (-)
Billion $
Ol
[Billions of dollars]
Fiscal year
Change from preceding year
1988
1991
1990
Total
National defense
Social security
Net interest
Income security
Medicare
Health
.
.......
Veterans benefits and services
Agriculture
International affairs
Energy
Undistributed offsetting receipts
All other functions
.
.
..
•
Addendum:
National defense social security net interest and medicare
All other functions
.
1,064.0
1,142.6
1,197.2
1,233.3
78.6
54.6
36.1
290.4
219.3
151.7
129.3
78.9
44.5
31.9
29.4
17.2
18.8
10.8
10.5
2.3
-37.0
65.9
303.6
232.5
169.1
136.0
85.0
48.4
36.7
30.1
16.9
27.7
12.8
9.6
3.7
-37.2
67.7
296.3
248.5
175.6
146.6
96.6
57.8
37.7
28.9
14.6
22.7
14.1
14.6
3.2
-36.5
76.6
303.3
264.8
173.0
153.7
98.6
63.7
41.0
30.3
14.9
17.2
16.6
18.2
3.0
-43.6
78.6
13.2
13.2
17.4
6.7
6.1
3.9
4.8
.7
-.3
8.9
2.0
.9
1.4
-.2
1.8
-7.3
16.0
6.5
10.6
11.6
9.4
1.0
-1.2
-2.3
-5.0
1.3
5.0
-.5
.7
8.9
7.0
16.3
-2.6
7.1
2.0
5.9
3.3
1.4
.3
-5.5
2.5
3.6
-.2
-7.1
2.0
740.3
323.7
790.2
352.4
817.0
380.2
839,7
393.6
49.9
28.7
26.8
27.8
22.7
13.4
Sources: The Budget of the United States Government, Fiscal Year 1991, and the Bureau of Economic Analysis.
and includes $7.3 billion for a 3.9percent cost-of-living adjustment, effective January 1, 1991. The largest
decline—$5.5 billion—is for commerce
and housing credit; it is due to declines in spending by the Bank Insurance Fund—the successor to the Federal Deposit Insurance Corporation—
and the Federal Savings and Loan Insurance Corporation Resolution Fund
(see "NIPA Treatment of the Bailout
of Thrift Institutions" in the December
1989 SURVEY OF CURRENT BUSINESS for a
description of these funds).
are consistent with the budget estimates (table 3). Estimates of the Federal sector, which are integrated conceptually and statistically with the rest
of the NIPA's, differ in several respects
from the budget estimates. Unlike
those in the budget, these estimates
exclude financial transactions, such as
loans, and they record several categories of receipts and expenditures on
a timing basis different from that of
the budget. (For a more detailed discussion of the differences, see Government Transactions, Methodology Paper Series MP-5, listed on the inside
back cover.) Table 5 shows the relaFederal sector
tion between budget receipts and NIPA
BEA has prepared estimates of the receipts, and table 6 shows the relaFederal sector on the national income tion between budget outlays and NIPA
and product accounts (NIPA) basis that expenditures.
Table 6.—Relation of Federal Government Expenditures in the National Income and Product Accounts to the Budget
[Billions of dollars]
[Billions of dollars]
IIscal yeai
1989
-100
Budget receipts
Less: Coverage differences
-150
Plus: Netting differences:
Contributions to government
employees retirement funds ...
Other
-200
Unified Budget
-250
J \ ! I LJ I I L
1981 82 83 84 85 86 87 88 89 90* 91*
Fiscal Year
* Estimates by OMB and BEA
Note—The cyclically adjusted surplus or deficit is based on
6-percent unemployment rate trend GNP.
U.S. Department of Commerce, Bureau of Economic Analysis
90-2-1
1991
1990
1989
Table 5.—Relation of Federal Government Receipts
in the National Income and Product Accounts to
the Budget
-50
1989
Timing differences:
Corporate income tax
Federal and State
unemployment insurance
taxes
Withheld personal income tax
and social security
contributions
,
Excise taxes
Other
1990
FIscal yeai
1991
1,142.6 1,197.6 1,233.3
2.0
2.2
2.4
41.7
201
45.0
201
48.3
239
-6.8
-4.7
-1.9
.6
-.3
-.4
2.5
-.4
-2.3
1.4
1
-.6
Miscellaneous
Equals: Federal Government receipts,
NIPA's
1,046.4 1,128.3 1,239.3
1989
Budget outlays
Less: Coverage differences:
Geographic
Other
Financial transactions:
Net lending
Other
Net purchases of land:
Outer Continental Shelf.
Other
Plus: Netting differences:
Contributions to government
employees retirement funds ...
Other
Timing differences:
National defense purchases
Other
Miscellaneous.
Equals: Federal Government
expenditures, NIPA's
1990
1991
1,142.6 1,197.2 1,233.3
6.0
-4
6.3
2
6.5
-28
12.4
11 1
112
89
110
86
-.9
4
-.6
4
-.9
-1 1
41.7
20.1
45.0
20.1
48.3
23.9
-.3
28
5.0
35
.4
4
1,175.6 1,246.5
1,287.7
.1
SURVEY OF CURRENT BUSINESS
February 1990
Federal receipts on the NIPA basis
3.7 billion increase due to higher
are $1,239.3 billion in fiscal year 1991, tax bases and a $22.3 billion increase
up $111.0 billion from 1990 (chart 2). due to tax changes (table 7). The inThe 1991 increase is the result of an crease due to tax changes is largely accounted for by social security rate and
base increases and by proposed legislation. The proposal to reduce the capTable 7.—Sources of Change in Federal
ital gains tax increases personal tax
Government Receipts, NIPA Basis
and nontax receipts. Proposed legislafBillions of dollars]
tion, including permanently extending
Change from
the telephone excise tax (which expires
preceding fiscal year
December 31, 1990) and auctioning
1990
1989
1991
certain Federal Communication Com81.9 111.0
Total receipts
. .
81.6
mission radio licenses, increases indi70.4
88.7
Due to tax bases
78.3
11.5
22.3
Due to tax changes
3.3
rect
business tax and nontax accruMedicare Catastrophic Coverage Act of
als. The proposal to extend social secu.1
1.6
1988
-1.7
Omnibus Budget Reconciliation Act of
rity and medicare hospital coverage to
1989
.7
4.3
.9
Social security
8.3
7.6
1.0
all State and local government employProposed legislation
.6
13.7
ees increases contributions for social
38.4
Personal tax and nontax receipts
44.2
44.0
insurance.
37.8
40.2
Due to tax bases
44.2
4.4
.6
Due to tax changes
Federal expenditures on the NIPA
Omnibus Budget Reconciliation Act of
.1
.1
1989
basis
are $1,287.7 billion in 1991, up
Proposed legislation .
.
.5
4.3
$41.2
billion from 1990 (charts 3 and
11.9
Corporate profits tax accruals....
20.5
5.5
4). Table 8 highlights the major factors
Due to tax bases
10.7
20.6
4.8
1.2
-.1
Due to tax changes
.7
that contribute to recent changes in
Omnibus Budget Reconciliation Act of
1.2
.8
1989
.7
Federal expenditures. The largest inProposed legislation
-.9
crease in 1991—$15.8 billion—is for so2.2
7.0
Indirect business tax and nontax accruals
.6
cial security, including $10.2 billion for
-.2
1.4
Due to tax bases
.6
2.4
Due to tax changes
2.9
cost-of-living adjustments. Within purOmnibus Budget Reconciliation Act of
1989
2.3
-.5
chases, Federal employee pay raises
.1
Proposed legislation
6.1
add $4.5 billion, and purchases by the
29.4
39.4
Contributions for social insurance
31.3
National Aeronautics and Space Ad22.1
27.0
Due to tax bases
,
28.7
12.4
7.3
Due to tax changes
,
2.6
ministration add $3.3 billion; partly
Medicare Catastrophic Coverage Act
.1
of 1988
-1.7
1.6
offsetting these increases is a $3.2 bilOmnibus Budget Reconciliation Act of
.7
.5
1989
lion
decline in purchases of military
8.3
7.6
Social security '
1.0
hardware. Grants-in-aid to State and
4.2
Proposed legislation
local governments for public assistance
1. Consists of social security rate and base changes since 1988.
increase $5.8 billipn. Net interest paid
l
23
declines $1.1 billion, and an increase in
the Postal Service surplus more than
accounts for the decline in subsidies
less the current surplus of government
enterprises.
Table 8.—Sources of Change in Federal
Government Expenditures, NIPA Basis
[Billions of dollars]
Change from
preceding fiscal year
1989
1990
1991
71.6
70.9
41.2
21.9
1.5
3.7
2.5
1.2
9.6
19.3
.8
4.7
3.3
1.4
3.7
10.2
-3.2
4.5
3.2
1.3
.3
2.0
5.1
1.4
3.7
.9
9.2
1.0
8.2
3.3
5.3
1.6
3.7
28.9
13.1
8.1
2.3
.5
4.9
36.5
15.5
11.0
3.7
2.7
3.6
22.8
15.8
2.5
1.1
.3
3.1
Grants-in-aid to State and local
governments
Public assistance
Hiehwavs
Education
Other
7.2
4.6
-.5
1.0
2.1
10.8
6.9
.3
.4
3.2
9.8
5.8
Net interest paid
19.6
7.6
-1.1
-6.0
-4.9
-1.0
1.2
-.1
-1.2
-3.3
-1.3
-5.3
1.8
1.1
.4
-.5
.1
2.0
1.5
-1.2
-2.9
Total expenditures
Purchases of goods and services
Military hardware
National defense
Nondefense
Commodity Credit Corporation
National Aeronautics and Space
Administration
Other
National defense
Nondefense
. ..
Transfer navments
Social security
Military and civilian pensions
Unemployment benefits
Other
Subsidies less current surplus of
government enterprises
Commodity Credit Corporation
Agriculture subsidies
Postal Service
Other
L5
2.5
1. Consists of pay raises beginning with January 1989.
CHART 4
CHART 2
Federal Government Expenditures,
NIPA Basis
Federal Government Receipts,
NIPA Basis
Changes in Federal Government
Expenditures, NIPA Basis
Billion $
-20
Billion $
600 i—
Billion $
600
0
20
40
60
80
• Excluding Proposed Legislation
TOTAL
500
500
Transfer Payments
400
400
National
Defense
Purchases
300
300
Nondefense
Purchases
200
Transfer
Payments
100
Net Interest
Paid
Personal Tax and Nontax Receipts
Contributions for Social Insurance
200
Corporate Profits Tax Accruals
100 -
Fiscal Year
1991*
D 1990*
D1989
Net Interest Paid
I
1981 82
Indirect Business Tax and Nontax Accruals
I I I
I I I I I
83
84
85 86 87 88
Fiscal Year
89
* Estimates by BEA
U.S. Department of Commerce, Bureau of Economic Analysis
90* 91*
All Other
1981 82 83 84 85 86 87 88 89 90* 91*
I
Fiscal Year
90-2-2
* Estimates by BEA
U.S. Department of Commerce, Bureau of Economic Analysis
* Estimate by BEA
90-2-3
U.S. Department of Commerce, Bureau of Economic Analysis
90-2-4
24
SURVEY OF CURRENT BUSINESS
February 1990
Table 10.—Federal Government Receipts and Expenditures, NIPA Basis
[Billions of dollars; quarters at seasonally adjusted annual rates]
Calendar year
Fiscal year
Actual
1989
1990
Estimates
Actual
Estimates
1991
Actual
1989
Estimate
1990
1991
1990
1989
I
II
ni
IV
I
II
III
IV
I
II
III
1,046.4
1,128.3
1,239.3
1,046.7
1,154.4
1,036.2
1,053.2
1,043.2
1,054.3
1,119.7
1,138.1
1,164.5
1,195.1
1,228.9
1,254.7
1,272.6
Personal tax and nontax receipts
Omnibus Budget Reconciliation Act of 1989
Proposed legislation
Other
. . .
.
457.3
539.7
.2
4.8
534.7
460.4
503.6
.1
446.8
465.1
459.1
470.8
490.0
498.1
.1
457.3
495.7
.1
.5
495.1
460.4
502.9
446.8
465.1
459.1
470.8
489.9
498.0
508.1
.1
1.0
507.0
518.4
.1
1.7
516.6
535.0
.2
4.6
530.2
546.6
.2
7.9
538.5
550.5
.2
3.4
546.9
Corporate profits tax accruals
Federal Reserve banks
Other
Omnibus Budget Reconciliation Act of 1989
Proposed legislation
Other
115.4
19.7
95.7
.7
127.3
20.8
106.5
1.9
105.1
19.8
85.3
1.1
132.2
21.1
111.1
2.1
117.0
19.5
97.5
.7
109.7
20.3
89.4
.8
99.9
19.6
80.3
1.3
93.8
19.7
74.1
1.6
124.5
21.1
103.4
1.8
128.6
21.1
107.5
2.0
135.7
21.1
114.7
2.2
140.0
21.1
118.9
2.4
95.0
104.6
147.8
21.1
126.7
2.7
-1 0
125.0
84.2
109.0
96.8
88.6
79.0
72.5
101.6
105.5
ii'is
'iiisT
144.5
21.2
123.4
2.6
-1.3
122.1
150.2
21.2
129.1
2.7
-1.3
127.7
156.4
21.2
135.3
2.9
-1.3
133.7
57.6
66.8
1.8
6.2
58.9
58.7
61.7
3.1
58.0
58.2
59.4
59.1
59.9
3.1
60.5
3.1
57.6
59.8
2.3
.1
57.4
58.7
57.6
58.0
58.2
59.4
59.1
56.8
57.4
60.9
3.1
.3
57.5
65.4
3.1
3.7
58.6
66.8
1.3
7.0
58.5
67.4
1.3
7.1
59,0
67.9
1.3
7.1
59.5
416.1
334.5
316.5
445.5
362.8
342.1
484.9
399.5
375.1
422.5
339.5
321.6
456.8
373.5
352.8
414.3
331.8
313.9
420.2
337.4
319.5
424.8
341.7
323.8
430.6
347.1
329.1
445.3
363.2
342.5
451.0
369.0
348.3
459.8
375.5
354.8
471.3
386.3
365.5
482.6
397.7
373.3
490.5
404.7
380.4
497.8
411.6
387.3
1.1
4.1
1.0
3.5
3.6
3.8
3.9
4.0
3.3
4.1
3.4
4.1
3.6
4.7
6.5
4.2
359.4
24.3
4.7
-1 4
21.0
Receipts
Indirect business tax and nontax accruals
Omnibus Budget Reconciliation Act of 1989
Proposed legislation
Other
Contributions for social insurance
Social Security
Tax on wages and salaries
Base increases:
January 1990
January 1991
Rate increase:
January 1990
Other
Tax on self-employment earnings
.
Chanee in definition of "taxable earnines"
Other
Medicare Catastrophic Coverage Act of 1988:
Income-tax-based premium
Other
Expenditures
Purchases of goods and services
National defense
Pay raises:
January 1990
January 1991
Other
Pay raises:
January 1990
January 1991
Commodity Credit Corporation inventory
change
..
National Aeronautics and Space Administration ..
1990 Census
Other
7
1.0
37
6.2
6.3
6.3
17.9
332.7
20.7
1.3
-.3
19.8
338.4
20.7
1.3
-.3
19.8
344.6
20.7
1.3
-.3
19.8
6.4
4.0
351.2
20.7
1.3
-.3
19.8
6.5
4.2
355.4
24.3
4.7
-1.4
21.0
6.6
4.2
362.1
24.3
4.7
-1.4
21.0
6.6
4.2
368.8
24.3
4.7
-1.4
21.0
.5
1.4
81.6
-.5
-1.6
82.6
83.5
84.3
85.1
84.9
85.7
86.2
63
321.6
17.9
1.0
341.7
20.7
13
313.9
17.9
319.5
17.9
323.8
17.9
329.1
17.9
17.9
19.8
17.9
17.9
17.9
-.5
83.9
.5
1.4
80.6
.5
1.4
80.9
.5
1.4
81.3
18.0
336.3
20.7
1.3
-3
19.8
.5
1.1
80.0
-.5
.4
82.9
85.5
.5
1.4
81.1
1,175.6
1,246.5
1,287.7
1,195.2
1,258.9
1,183.7
1,198.6
1,187.9
1,210.8
1,246.3
1,254.3
1,257.3
1,277.7
1,291.6
1,294.2
1,286.3
400.5
302.4
419.8
307.5
430.0
309.1
402.9
302.2
422.3
307.8
399.0
298.7
406.0
301.3
402.7
307.8
404.0
301.2
418.0
307.6
421.8
307.4
423.5
308.0
426.0
308.1
429.5
308.5
432.9
309.8
431.3
309.9
2.4
3.2
3.2
3.2
305.1
112.3
3.2
2.4
303.5
120.9
3.1
302.4
98.1
302.2
100.7
304.6
114.6
298.7
100.4
301.3
104.7
307.8
94.9
301.2
102.8
304.5
110.4
304.2
114.4
304.8
115.5
304.9
117.9
3.2
3.0
302.3
121.0
3.2
3.2
303.4
123.1
3.2
3.2
303.5
121.4
1.2
1.3
1.3
1.3
1.3
1.2
1.3
1.4
1.3
1.4
316.5
18.0
-3
3.2
1.3
1.0
1.3
1.0
-5.1
10.8
.2
-1.4
11.7
1.2
-4.4
11.1
.5
-1.9
12.3
1.2
-3.8
11.1
.4
-1.0
11.4
.5
-10.0
11.4
.5
-2.8
10.7
.5
-2.1
11.4
.6
-2.2
11.7
2.5
-2.2
12.4
1.5
-1.1
13.7
.3
-1.1
14.8
-1.1
15.6
-1.1
15.9
92.3
99.8
-1.1
15.0
.1
-.8
105.3
93.5
101.7
92.7
93.8
93.0
94.4
99.3
101.1
102.5
103.7
104.8
105.9
-3.1
107.0
Transfer payments
To persons
Social security
Benefit increases:
January 1990
January 1991
Other
Medicare
....
Medicare Catastrophic Coverage Act of 1988..
Regular
Proposed reductions
Other
Other
To foreigners
461.6
448.3
223.7
498.1
484.6
239.2
520.9
507.7
255.0
472.6
459.0
227.4
505.0
491.6
243.1
460.4
448.9
225.0
466.9
455.7
227.0
475.6
461.6
228.1
487.6
469.7
229.6
497.2
486.0
241.2
500.5
489.7
242.5
507.6
493.9
243.7
514.7
496.9
245.1
520.3
509.2
256.5
521.7
511.0
258.3
526.6
512.9
260.1
8.2
10.9
10.9
11.0
231.0
105.0
2.5
102.5
11.1
7.3
236.6
107.4
10.8
223.7
93.9
1.9
92.0
225.0
91.9
.3
91.6
227.0
96.0
2.5
93.4
228.1
99.8
5.0
94.8
229.6
103.7
6.1
97.6
230.4
104.0
5.3
98.7
231.6
105.5
1.0
104.5
234.1
108.0
11.1
9.6
235.8
107.6
11.2
9.7
237.4
107.2
11.2
9.8
239.1
106.8
107.5
102.5
140.5
13.4
94.4
133.7
13.6
91.6
132.0
11.5
93.4
132.8
11.1
94.8
133.6
14.1
97.6
136.4
17.8
98.7
140.7
11.2
104.5
141.7
10.8
107.5
142.7
13.8
108.0
-2.0
110.0
143.8
17.8
imT
92.0
130.7
13.4
232.2
106.3
1.6
104.7
-.5
105.2
142.2
13.4
232.7
107.5
107.4
-5.5
112.9
145.3
13.3
227.4
97.9
3.5
94.4
-4.5
112.1
145.1
11.1
107.2
-6.8
114.0
145.5
10.7
106.8
-8.7
115.5
146.0
13.7
Grants-in-aid to State and local governments
Medicaid
Aid to families with dependent children
Highways
Education
Other
115.8
34.5
11.1
13.1
11.0
46.0
126.6
40.1
12.0
13.4
11.4
49.6
136.4
44.8
12.6
13.4
12.9
52.6
119.4
35.6
11.3
13.6
11.3
47.5
129.0
41.4
12.2
13.4
11.7
50.3
118.7
33.2
11.8
14.8
11.6
47.4
118.4
35.7
11.1
13.2
10.9
47.6
118.3
36.5
10.8
11.9
11.1
48.0
122.1
37.1
11.7
14.5
11.7
47.1
125.0
39.6
11.9
13.4
11.2
48.9
127.6
40.8
12.1
13.4
11.4
49.9
130.4
42.0
12.3
13.4
11.9
50.8
132.9
43.2
12.4
13.4
12.3
51.6
135.2
44.3
12.5
13.4
12.7
52.3
137.7
45.4
12.7
13.4
13.1
53.1
139.6
46.4
12.8
13.4
13.5
53.5
Net interest paid
168.6
176.2
175.1
171.1
176.4
167.0
172.0
171.2
174.3
177.1
177.1
176.2
175.1
175.1
175.1
175.1
29.1
25.8
25.3
29.2
26.2
38.5
35.3
20.1
22.8
29.0
27.3
19.6
29.0
31.5
26.8
13.8
4.6
13.1
15.2
.2
-4.0
3.3
7.8
17.0
1.3
-3.5
3.4
9.8
18.5
.1
-6.5
5.0
10.3
15.0
1.1
-2.2
3.2
8.4
17.5
1.3
-4.2
5.9
18.0
14.5
.8
-.6
7.6
12.0
14.8
1.0
-.1
6.2
1.7
15.0
1.3
-4.2
.2
9.6
15.7
1.3
-4.1
3.1
11.5
16.8
1.3
-3.7
3.1
9.2
17.4
1.3
-3.7
3.1
1.3
17.7
1.3
-3.8
3.4
11.5
18.0
1.5
-5.4
3.4
14.9
18.3
1.7
-6.8
3.4
11.6
18.6
-6.8'
3.4
1.3
18.9
-3.0
-6.8
-129.2
-118.2
-48.4
-148.5
-104.5
-147.5
-145.4
-144.7
-156.5
-126.6
-116.2
-92.8
-82.6
-62.7
-39.5
-13.7
Subsidies less current surplus of government
enterprises
. .
Agriculture:
Commodity Credit Corporation deficit
Agricultural subsidies
. . . .
Housing
.
.
Postal Service
Other
. .
Surplus or deficit (-)
109
February 1990
SURVEY OF CURRENT BUSINESS
25
Table 9 shows the relation between fleet the pattern of enacted and pro- endar year 1988 (table 11). The deficit
national defense outlays in the budget posed legislation and the administra- increased in 1989 but is expected to deand national defense purchases on the tion's projected quarterly pattern of cline in 1990. In 1990 and 1991, the
NIPA basis. In 1991, outlays, which wages and profits. Expenditures re- cyclically adjusted deficit follows a patare recorded on a checks-issued basis, flect the pattern of proposed legislation tern similar to that of the NIPA deficit,
increase more than purchases, which and selected other items, mainly pay although at a higher level. It declines
are recorded on a delivery basis.
raises for Federal employees and cost- sharply in the first quarter of 1990 and
Quarterly pattern.—Table 10 shows of-living adjustments in social secu- continues to decline steadily through
the major factors that affect the quar- rity and Federal employee retirement the third quarter of 1991.
terly pattern of receipts and expendi- benefits.
The Federal deficit, which was virtutures through fiscal 1991. Receipts really flat through 1989, declines sharply
in the first quarter of 1990 as re- Table 11.—Cyclically Adjusted Surplus or Deficit
Table 9.—Relation of National Defense Purchases ceipts increase more than expendi(-), NIPA Basis
in the National Income and Product Accounts to tures. The first-quarter increase in
[Billions of dollars; quarters at seasonally adjusted annual rates]
National Defense Outlays in the Budget
receipts—$65.4 billion—includes a soBased on 6-percent unemployment
[Billions of dollars]
cial security base and tax rate inrate trend GNP
crease and the initial effects of the
Level
Change
Fiscal year
Omnibus Budget Reconciliation Act
ActuEstimates
Calendar
year
of 1989.
Thereafter, the deficit
al
1990
1989
1991
continues to decline steadily as in- 1988
-172.5
-13.0
1989
-187.3
-14.8
creases in receipts outpace increases in 1990
National defense outlays in the budget
303.6 296.3 303.3
-145.8
41.5
expenditures.
Department of Defense, military
,
294.9 286.8 292.1
Quarters
78.8
75.3
Military personnel
80.7
Cyclically adjusted deficit.—Cycli- 1988:
87.0
86.1
88.3
Operation and maintenance
81.6
80.9
79.3
-173.1
5.9
cally
adjusted receipts, expenditures, H.....
Aircraft
27.2
26.7
27.6
-168.0
5.1
and surplus or deficit are estimates of HI
10.1
9.7
Missiles. .
. . .
9.5
-150.8
17.2
Ships
10.6
11.1
11.0
198 1
-47.3
what these measures would be if the IV..
8.4
8.2
Weapons
8.8
1989:
Ammunition
2.0
1.8
2.3
economy
were
moving
along
a
trend
I
Other
22.0
-185.2
22.6
22.5
12.9
II
-183.3
Research, development, test, and
1.9
GNP path—a path free from cyclical Ill
.
evaluation
37.0
37.0
36.5
-184.3
-1.0
fluctuations—rather than along its ac- IV
Other
8.6
7.0
8.5
-196.5
122
tual path. Consequently, cyclical fluc- 1990:
Atomic energy and other defense-related
activities
9.6
11.1
8.7
-165.0
31.5
tuations in the economy do not affect III
-155.1
9.9
.6
.6
Plus: Military assistance purchases
.5
Ill
-134.8
20.3
cyclically adjusted budgets.
IV
-128,4
6.4
As measured using cyclical adjust2.1
2.1
2.2
Less: Grants-in-aid and net interest paid...
-.4
3.0
-5.0
Timing difference
1991:
ments based on a 6-percent unemploy- I
-7.0
Other adjustments
-3.3
-7.8
-114.1
14.3
II
-96.7
17.4
ment rate trend GNP, the Federal sec- III
Equals: National defense purchases, NIPA's.. 304.4 307.5 309.1
-75.2
21.5
tor of the NIPA's was in deficit in cal-
Senior Vacancies
BEA invites applications for two senior positions—Associate Director for Regional Economics
and Associate Director for International Economics.
The Associate Director for Regional Economics coordinates the work of the Regional Economic Measurement Division and the Regional Economic Analysis Division, prepares analyses
of major developments and problems in regional economics, and advises Government officials
and consults with public and private groups on matters related to BEA's regional economics
program.
The Associate Director for International Economics coordinates the work of the Balance of
Payments Division and the International Investment Division, prepares analyses of major developments and problems in international economics, and advises Government officials and
consults with public and private groups on matters related to BEA's international economics
program.
These are career reserved positions in the Senior Executive Service; the salary range for SES
positions currently is $71,200 to $83,600.
The deadline for applications is April 4, 1990. For copies of vacancy announcements or for
other information about the positions or application procedures, contact James J. Hartman, Administrative Officer, Bureau of Economic Analysis, U.S. Department of Commerce, Washington,
DC 20230 (phone (202) 523-0508).
The Department of Commerce is an equal opportunity employer.
By DAVID F. SULLIVAN
State and Local Government Fiscal Position in 1989
1 HE surplus of State and local governments, as measured on a national
income and product accounts (NIPA)
basis, was $44 billion in 1989, $6^2 billion less than in 1988 (table 1). This
deterioration in the overall fiscal position was the net result of a $7 billion
increase in the surplus
of social insurance funds and a $121/2 billion increase
in the other funds deficit. The fiscal position of State and local governments has deteriorated steadily since
1984: The other funds surplus declined
through 1986 and a deficit appeared
in 1987. In 1988, the deterioration
was the result of a slowing in the pace
of personal tax and nontax receipts
and a strong increase in expenditures.
The continued deterioration in 1989—
despite a strong rebound in personal
tax and nontax receipts—was the result of a decrease in corporate profits
tax accruals, a slowing in the pace of
indirect business tax and nontax accruals, and another strong increase in
expenditures.
in 1988.1 In its effect on accruals, the
decrease in corporate profits more than
offset tax rate increases imposed by
several States on corporate profits in
1989.
Personal tax and nontax receipts accelerated; these receipts increased 8^2
percent in 1989, up from 4^2 percent
in 1988. The acceleration was traceable to income taxes, which increased
10 percent in 1989, up from 2x/2 percent
in 1988. The pattern of income taxes
eration in 1989. The deceleration in total receipts was more than accounted
for by corporate profits tax accruals,
which decreased 9 percent in 1989, following a 12-percent increase in 1988.
Receipts other than corporate profits
taxes increased 7 percent in 1989; they
increased 6^2 percent in 1988. Personal tax and nontax receipts accelerated sharply in 1989, following a sharp
deceleration in 1988. Indirect business
tax and nontax accruals and Federal
grants-in-aid decelerated in 1989, following accelerations in 1988. Contributions for social insurance increased
at about the same rate in 1989 as in
1988.
The decrease in corporate profits tax
accruals reflected corporate profits before tax, which decreased 6 percent in
1989, following a 15-percent increase
1. The estimates of 1988 and 1989 corporate profits tax accruals are subject to larger revisions than the
other components of receipts; they were prepared by extrapolating the 1987 estimate using NIPA estimates of
domestic profits before tax (less Federal Reserve bank
profits) as the indicator. The basic source of the 1987
estimate was detailed collections data underlying the
Census Bureau's Quarterly Summary of Federal, State,
and Local Tax Revenue.
Table 2.—State and Local Government Receipts, NIPA Basis
Calendar years
Billions of dollars
Receipts
State and local government receipts
increased 6x/2 percent in 1989,^2 percentage point less than in 1988 (table 2). General own-source receipts—
that is, receipts excluding contributions for social insurance and Federal
grants-in-aid—showed a similar decel-
Table 1.—State and Local Government Receipts,
Expenditures, and Surplus or Deficit, NIPA Basis
[Billions of dollars]
Cal endar y<;ars
1985
Receipts
Surplus or deficit (-)
Social insurance funds
Other funds
1986
1987
1988
1989
581.8 626.3 656.1 701.6 746.4
5167 563.5 604.8 651.9 702.2
65.1 62.8 51.3 49.7 44.3
51.3 57.2 63.7 71.1 78.0
5.6 -12.4 -21.4 -33.8
13.8
NOTE.—The estimates for 1988 and 1989 are in table 3.3 in the
"Selected NIPA Tables" in this issue; the estimates for 1985-87 are in
table 3.3 in the "National Income and Product Accounts Tables" in
the July 1989 SURVEY OF CURRENT BUSINESS.
26
1985
Receipts
.. . .
General own-source receipts
Personal tax and nontax receipts
Income taxes ..
Nontaxes
Other
.
Corporate profits tax accruals
Indirect business tax and nontax accruals
Sales taxes
. . .
Prooertv taxes
Other
.
1986
1987
Percent change
1988
1989
1986
1988
1989
581.8
626.3
656.1
701.6
746.4
7.6
4.8
6.9
6.4
438.9
472.4
503.5
537.0
570.4
7.6
6.6
6.6
6.2
140.2
72.2
56.2
11.8
151.5
77.6
61.2
12.7
165.8
86.3
65.8
13.8
173.7
88.5
70.3
14.8
188.1
97.4
74.9
15.7
8.0
7.5
8.9
7.4
9.5
11.2
7.5
8.7
4.7
2.6
7.0
7.4
8.3
10.0
6.5
6.2
-9.1
20.2
22.5
23.7
26.5
24.1
11.6
5.2
12.0
278.5
131.0
107.1
40.5
298.5
140.0
114.6
43.8
314.0
149.2
121.3
43.5
336.8
160.5
131.0
45.2
358.2
170.8
140.3
47.1
7.1
6.9
7.1
8.1
5.2
6.5
5.8
-.6
7.3
7.6
8.0
3.9
6.4
6.4
7.1
4.2
6.2
6.6
6.4
8.5
7.2
6.9
6.6
6.1
5.8
Contributions for social insurance
43.2
47.1
50.0
53.3
56.7
8.9
Federal grants-in-aid
99.7
106.8
102.6
111.4
119.4
7.1
581.5
438.6
627.7
473.8
655.5
502.9
700.7
536.0
743.2
567.1
7.9
8.0
Addendum—Receipts excluding selected law
changes:
Total?.
General own-source receipts
1987
-3.9
4.4
6.1
NOTE.—Estimates of the effect on receipts of law changes are calculated as follows. For changes of which BEA is aware (hence the use of
"selected" in the line title in the table), the estimate is of the amount of the change over the 12-month period after the change is introduced. For
personal taxes, the change is introduced when the tax is paid/refunded or when withholding is changed. For indirect business taxes, the change is
introduced to coincide with the transaction affected. The calculations are made by months for personal taxes and nontaxes (because they are used to
prepare monthly estimates of disposable personal income) and by quarters for other taxes. Two characteristics of the resulting estimates should be
noted. First, aggregation of the monthly or quarterly estimates to calendar years may give results that appear anomalous. For example, a sales tax
imposed for 1 year beginning July 1 would be recorded as follows: (a) For quarters, an increase in receipts by the amount of the 12-month yield in
the third quarter of that year and a decrease by the same amount in the third quarter of the following year, and (b) for calendar years, an increase
in receipts by the amount of the 12-month yield divided by 2 in the year that the increase takes place, no change in receipts in the following year,
and a decrease by the amount of the 12-month yield divided by 2 in the year after that (i.e., 2 years after the increase). Second, a law change after
July, which is the beginning of the fiscal year for many States, would have more impact on receipts of the next calendar year than on those of the
calendar year in which it occurs.
The effects of tax law changes excluded from receipts to derive the addenda items in the table are the effects of the changes beginning with
those introduced in 1984. The 12-month effects, recorded for calendar years as described above, are cumulated.
February 1990
continued to reflect both behavioral responses of taxpayers to the Tax Reform
Act of 1986 and State and local legislative actions. Beginning in 1986, taxpayers have deferred income to later
years to take advantage of lower income tax rates provided by the Tax Reform Act after 1986. This and other behavioral responses to the Tax Reform
Act had the largest effect on 1987 income taxes, but also affected 1988 and
1989. The net effect on income taxes of
these taxpayer responses was to add an
estimated $3 billion in 1987, $V2 billion
in 1988, and $lx/2 billion in 1989. In
addition, State legislation reduced income taxes an estimated $2^2 billion in
1988 and.$^2 billion in 1989. This legislation included actions, particularly
in 1988, by a number of States to return all or part of the "windfall" associated with the Tax Reform Act. In
the absence of both the taxpayer responses and the legislative actions, income taxes would have increased 8^2
percent in 1988 and 9*/2 percent in
1989.
Indirect business tax and nontax accruals decelerated in 1989; these accruals increased 6^2 percent, down
from 7^2 percent in 1988. Both sales
and property taxes decelerated about
1 percentage point. Sales taxes would
have decelerated about l*/2 percentage
points in the absence of legislative actions, which added nearly $3 billion to
sales taxes in 1989; they had added
about $2x/2 billion in 1988. In the
absence of these actions, sales taxes
would have increased 4x/2 percent in
1989 and 6 percent in 1988. Other indirect business tax and nontax accruals increased 4 percent in 1989, about
the same as in 1988.
Contributions for social insurance increased 6*/2 percent in both 1989 and
in 1988, reflecting the steady growth
in wages and salaries of State and local government employees. Federal
grants-in-aid decelerated in 1989; they
increased 7 percent, down from 81'2
percent in 1988. The deceleration was
more than accounted for by decreases
in 1989 in grants for highways, social
services, and community development.
In contrast, grants for medicaid, education, mass transit, and some other
types of grants increased more than 9
percent in 1989.
Expenditures
State and local government expenditures increased 7^2 percent in 1989,
slightly less than in 1988 (table 3).
SURVEY OF CURRENT BUSINESS
27
Purchases of goods and services and
transfer payments to persons, the two
largest categories of expenditures, decelerated slightly in 1989.
Purchases of goods and services increased 7x/2 percent in 1989, down
from 8 percent in 1988. Compensation of employees decelerated slightly,
purchases of structures decelerated
sharply, and purchases of other goods
and services accelerated. The deceleration in purchases of structures was
accounted for by highway construction,
which decreased $x'2 billion, after a $3
billion increase in 1988. Construction
other than for highways increased $3x/2
billion in 1989; the largest increases
were for educational buildings, sewers,
and other buildings, such as offices and
prisons.
The acceleration in other purchases
of goods and services was most marked
in purchases of nondurable goods, although purchases of durable goods and
of services other than compensation
also contributed. Measured in constant (1982) dollars, other purchases
increased at about the same rate in
1989 as in 1988 (table 4); purchases
of durables decelerated slightly, while
purchases of nondurables and of other
services increased at about the same
rate as in 1988. A sharp acceleration
in prices of nondurables was the major
reason for the acceleration in currentdollar purchases of nondurables given
the steady increase in the constantdollar measure. The fixed-weighted
price index for nondurables purchased
by State and local governments increased 6^2 percent in 1989, up from
2^2 percent in 1988, primarily because of a sharp increase in petroleum
prices, following a decrease in 1988.
The fixed-weighted price indexes for
durables and for other services also accelerated in 1989, but not as sharply
(see table 7.16 in the "Selected NIPA
Tables" in this issue).
Expenditures other than purchases
accelerated in 1989; these expenditures increased 7*/2 percent in 1989,
up from 6^2 percent in 1988. Transfer payments to persons increased 8x/2
percent in 1989, down from 9 percent
in 1988; this slight deceleration was
Table 3.—State and Local Government Expenditures, NIPA Basis
Calendar years
Percent change
Billions of dollars
1985
1986
1987
1989
1988
1986
1987
1988
1989
516.7
563.5
604.8
651.9
702.2
9.1
7.3
7.8
7.7
465.6
278.8
53.7
133.2
505.7
300.3
60.6
144.8
544.5
322.1
64.6
157.9
587.6
346.5
69.3
171.9
633.1
371.0
72.3
189.8
8.6
7.7
13.0
8.8
7.7
7.3
6.5
9.0
7.9
7.6
7.3
8.9
7.7
7.1
4.3
10.4
Transfer payments to persons
Benefits from social insurance funds
Public assistance
Other
101.1
30.3
65.1
5.7
110.9
33.9
70.7
6.3
119.6
37.3
75.6
6.7
130.3
41.0
82.1
7.2
141.5
44.8
88.8
7.8
9.6
11.7
8.6
10.5
7.9
10.2
6.9
6.5
9.0
10.0
8.5
7.8
8.6
9.3
8.2
8.1
Net interest paid
Interest paid
Less: Interest received by government
-32.4
42.2
74.6
35.2
39.4
-34.4
47.9
82.3
39.9
42.3
-37.5
53.8
91.3
45.8
45.5
-40.3
59.9
100.2
52.3
47.9
-42.7
65.9
108.5
58.4
50.2
13.5
10.2
13.4
7.4
i'i.3
11.0
14.8
7.5
11.4
9.7
14.1
5.2
9.9
8.3
11.6
4.8
4.5
4.4
.2
5.5
5.4
.2
6.7
6.6
.1
8J
8.1
.2
9.7
9.5
.2
22.1
23.0
-3.8
21.6
22.3
-.7
23.2
23.3
18.1
17.0
17.0
16.5
-13.1
.7
13.8
-13.2
.7
13.9
-15.1
.7
15.8
-17.5
.7
18.3
-20.0
.8
20.8
2.3
.8
3.0
13.7
3.0
15.7
1.7
13.9
0
0
0
0
0
Expenditures
Purchases of goods and services
Compensation of employees.
Other
Other
Less' Dividends received
Social insurance funds
Other
Subsidies less current surplus of government
enterprises
Subsidies '
Less: Current surplus of government enterprises
Less' Wage accruals less disbursements
Table 4.—State and Local Government Purchases in Constant Dollars
Calendar years
Billions of 1982 dollars
1985
State and local government purchases
Compensation of employees
Structures
Other .
. .."•"
Addendum:
Fixed-weighted price index, total purchases
1986
1987
1988
Percent change
1989
1986
1987
1988
1989
405.2
427.5
442.1
456.2
469.0
5.5
3.4
3.2
2.8
235.0
48.4
121.8
240.8
53.7
132.9
246.0
56.4
139.7
250.9
57.8
147.6
255.2
58.2
155.6
2.5
11.0
9.2
2.2
5.0
5.1
2.0
2.5
5.6
1.7
.8
5.4
115.3
119.2
124.3
130.4
136.9
3.4
4.3
4.9
5.0
28
traceable to State and local retirement
benefits and medical care transfers. In
1989, interest paid decelerated for the
fifth consecutive year; interest received
also decelerated, so that the increase in
net interest paid was less in 1989 than
in 1988.
Fiscal position
The fiscal position of State and local
governments as indicated by the other
funds measure deteriorated in 1989;
the deficit increased from $28 billion
in the fourth quarter of 1988 to $44^2
billion in the fourth quarter of 1989
(chart 5).2 The year began, however,
with an improvement in the fiscal position, reflecting a large increase in receipts, specifically in Federal grantsin-aid. The fiscal position deteriorated
throughout the rest of the year, ending with a $10 billion increase in the
other funds deficit in the fourth quarter. The deterioration resulted from
increases in expenditures that consistently exceeded increases in receipts.
After a $16 billion increase in the first
quarter, receipts slowed to an average
increase of $9 billion a quarter; much
of the slowing was due to the pattern
of corporate taxes, which decreased $2
billion a quarter in the last three quarters of the year. In the fourth quarter,
Federal grants-in-aid increased $4 billion; this increase included a $1^2 billion increase in disaster relief grants
in response to Hurricane Hugo and the
Loma Prieta earthquake.
Expenditures, on the other hand, increased at an average of nearly $131/r2
billion throughout the year. A smallerthan-average increase in the third
quarter was due to a slight decrease
in purchases of structures and to a
smaller-than-average increase in purchases of nondurables resulting from a
decrease in prices of petroleum products. A large increase in the fourth
SURVEY OF CURRENT BUSINESS
x
quarter was due to a $4 /2 billion increase in purchases of structures, an
increase in prices of petroleum products following the third-quarter decrease, and spending by State and local governments in response to Hurricane Hugo and the Loma Prieta earthquake. Purchases of goods and services
and transfers to persons increased an
estimated $1 billion and $x/2 billion, respectively, in the fourth quarter as a
result of these two natural disasters.
Outlook
A major factor in the outlook for
the State and local fiscal position in
1990 will be the pace of economic activity; this discussion assumes year-toyear economic growth of about 2 percent in 1990, less than the nearly 3 percent attained in 1989. General ownCHART 5
State and Local Government
Surplus or Deficit, NIPA Basis
Billion $
90 TOTAL AND SOCIAL INSURANCE FUNDS
80
70
Total
Social Insurance Funds
/
\
60
50
40
30
20 OTHER FUNDS
10
0
-10
-20
-30
-40
2. The quarterly estimates of State and local governments receipts and expenditures for 1989 are shown in
table 3.3 of the "Selected NIPA Tables" in this issue of
the SURVEY OF CURRENT BUSINESS.
-50
_L
1986
1987
_L
1988
1989
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
90-2-5
February 1990
source receipts are likely to increase
about 7 percent, assuming a modest increase in corporate profits before tax in
1990 that would reverse the decrease
in corporate profits tax accruals experienced in 1989 and assuming no further
tax legislation. Legislative changes already enacted should reduce personal
income taxes about $1 billion in 1990
and should increase sales taxes about
$2 billion. Federal grants-in-aid are
likely to increase about 8 percent, reflecting substantial increases in grants
for medicaid, aid to families with dependent children, and health care. If
contributions for social insurance increase at about the same rate in 1990
as in 1989, total receipts are likely to
increase to about $795-800 billion.
On the expenditures side, the increase in purchases is likely to be
smaller in 1990 than in 1989. Given
the deterioration in the fiscal position,
State and local governments are likely
to curb the growth of expenditures,
particularly purchases other than compensation and structures. Purchases of
structures, in contrast, are likely to increase more in 1990 than in 1989, despite little change in the level of grants
for capital purposes. Another source
of funds for purchases of structures,
new borrowing by State and local governments, increased in 1989. In addition, State and local government construction will probably include some
rebuilding of highways and other structures damaged in the Loma Prieta
earthquake. Assuming a 6-percent increase in structures, total purchases
would increase about 7 percent. Transfer payments are likely to increase
slightly faster in 1990 than in 1989,
led by increases in medical care transfers, which are largely financed by Federal grants. Increases in other expenditures similar to those experienced in
1989 would bring total expenditures to
about $750-755 billion in 1990.
Accordingly, the NIPA surplus would
increase slightly, to about $45-50 billion. The social insurance funds surplus is likely to increase to about $85
billion, so that the other funds deficit
would increase to about $35-40 billion.
By ALICIA M. QUIJANO
A Guide to BEA Statistics on Foreign Direct
Investment in the United States
THE recent surge in foreign direct
investment in the United States has
caused a great deal of public debate
on the magnitude and significance of
such investment.
Attention is focused on questions such as how much
is invested, who is investing from
abroad, what industries are most affected, what States receive the most
investment, and how are these investments financed. This guide is designed
to help those interested in foreign direct investment in the United States
understand the data that are collected
and published by the Bureau of Economic Analysis (BEA). Its purpose is
to explain the types of information collected and clarify the differences in the
data sets.
Direct investment implies that a person in one country has a lasting interest in and a degree of influence over the
management of a business enterprise
in another country. The criteria used
to distinguish direct investment from
other types of investment are rather
arbitrary. In most countries, some percentage of ownership of a foreign company is used. The criterion used in
the United States is set forth in the
International Investment and Trade in
Services Survey Act, which authorizes
the collection of the direct investment
data by BEA. Under the act, ownership
or control of 10 percent or more of an
enterprise's voting securities is considered evidence of a lasting interest in
or a degree of influence over management sufficient to constitute direct investment. Thus, foreign direct investment in the United States is defined
as the ownership or control, directly or
indirectly, by one foreign person of 10
percent or more of the voting securities of an incorporated U.S. business
NOTE.—Much of the material in this article was
drawn from methodologies and technical notes
by Betty L. Barker, R. David Belli, and Ned G.
Howenstine, which appear in other sources.
Further Information
About Direct Investment
A list of other articles, publications,
and diskettes on direct investment is available from BEA. Requests should be sent to
International Investment Division, Bureau
of Economic Analysis, U.S. Department of
Commerce, BE-50, Washington, D.C. 20230.
enterprise or the equivalent interest in
an unincorporated U.S. business enterprise. Any foreign investment that is
not direct investment by this definition is considered portfolio investment.
Data on portfolio investment are collected by the Treasury Department and
are included, together with BEA's data
on direct investment, in the U.S. international transactions accounts and
in the U.S. international investment
position of the United States, both of
which appear in the SURVEY OF CURRENT
BUSINESS.
BEA's data provide comprehensive
and reliable information needed to
monitor, assess the impact of, and
guide U.S. policy on foreign direct investment in the United States. They
give a detailed picture of the levels, growth, origin, and State and
industrial distribution of foreign direct investment and of the financial
and operating characteristics of the
U.S. affiliates.
The data are collected under the International Investment and Trade in Services Survey
Act by means of mandatory surveys of
the U.S. affiliates of foreign companies;
they are published in regular articles
in the SURVEY and in supplementary
publications.1
1. See table 5 on page 34. The data are also available on diskette or magnetic tape, and BEA can prepare
additional tabulations at cost, within the limits of available resources.
General Description of Data
BEA collects three broad sets of data:
(1) Balance of payments and the direct
investment position data, (2) financial
and operating data of U.S. affiliates,
and (3) establishment and acquisition
data. Each of these data sets focuses
on a distinct aspect of foreign direct
investment in the United States. The
balance of payments and direct investment position data track the transactions and positions of both new and
existing U.S. affiliates with their foreign parents; the financial and operating data provide a picture of the overall activities of the U.S. affiliates; and
the acquisition and establishment data
track new direct investments, regardless of whether the invested funds were
raised here or abroad.
Balance of payments and direct
investment position data
This set of data covers the U.S. affiliate's transactions and positions with
its foreign parent or other members of
its foreign parent group. (See box on
page 30.) The major items included
in the U.S. balance of payments are
direct investment capital flows, direct
investment income, royalties and license fees, and other services transactions with affiliated foreigners. The
foreign direct investment position in
the United States is a component of
the U.S. international investment position. Balance of payments data are
collected in two BEA quarterly surveys and are published in quarterly
articles on U.S. international transactions in the March, June, September,
and December issues of the SURVEY OF
CURRENT BUSINESS. The position data
are published in the U.S. international
investment position article in the June
SURVEY. More detailed tables on capital
and income flows and on the position
appear in the August SURVEY.
30
SURVEY OF CURRENT BUSINESS
Direct investment capital flows con- For example, the foreign direct investsist of equity and intercompany debt ment position in the United States was
flows between U.S. affiliates and their $271.8 billion at yearend 1987. In
foreign parent groups and the foreign 1988, net capital inflows were $58.4
parents' share of the reinvested earn- billion and net valuation adjustments
ings of their U.S. affiliates. They rep- were a negative $1.4 billion. Adding
resent the financing supplied to an af- the latter two figures to the 1987 posifiliate by its foreign parent group. As tion gives the yearend 1988 position of
discussed in the box, capital flows can $328.9 billion (table 1).
take place between the U.S. affiliate
The direct investment position estiand the foreign parent, the ultimate mates are carried at book value and are
beneficial owner (UBO), or other mem- not adjusted to current value. Thus,
bers of the foreign parent group.
they largely reflect prices at the time
The direct investment position equals of investment rather than prices of the
the yearend book value of the foreign current period. For a brief discussion
parent groups' equity (including re- of book value, see the section on chartained earnings) in, and net outstand- acteristics of the data.
ing loans to, their U.S. affiliates. In
Direct investment income consists of
other words, it is the cumulative value (1) the foreign parents' shares of the
of net capital inflows from foreign di- U.S. affiliates' earnings (net of U.S.
rect investors. The position at the withholding taxes on distributed earnend of the current year is equal to ings) and (2) interest on intercompany
the position at the end of the previous
year plus net capital inflows and valu- ues on U.S. affiliates' books, which are used to record
ation adjustments in the current year.2 the position and hence changes in the position. For ex2. Valuation adjustments primarily reflect differences between transaction values, which are used to
record direct investment capital inflows, and book val-
ample, these adjustments include differences between
the sales value and the book value of affiliates that are
sold by foreign parents and differences between the purchase value and the book value of affiliates that are acquired by foreign parents.
February 1990
Table 1.—Foreign Direct Investment in the United
States: Position, Capital, Income, and Other
Flows, 1987-88
[Millions of dollars]
1988
1987
Position
Capital inflow (outflow)
Equity capital
Intercompany debt
Valuation adjustments
,.
Income
Earnings
Interest
271,788
328,850
46,894
30,621
1,481
14,792
4,480
58,435
40,362
6,560
11,513
-1,373
9,500
5,874
3,626
16,748
11,830
4,918
Royalties and license fees
Other service charges
843
968
-616
-694
debt of the U.S. affiliates with their foreign parent groups. Earnings is defined as the foreign parent's share in
the net income of the U.S. affiliate, after provision for U.S. income taxes. Interest is defined as interest paid by
the U.S. affiliate to the foreign parent
group, net of interest received by the
U.S. affiliate from the foreign parent
group and net of U.S. and foreign withholding taxes.
Relationships and Transactions of U.S. Affiliates with Their Foreign Parent Groups
In many cases, a U.S. affiliate is only one unit in a global network of
corporate affiliations. Thus, a U.S. affiliate may have a foreign parent
who, in turn, is owned by a direct investor of a third country or who
has affiliates in other countries.
An affiliate's foreign parent is the first person outside the United
States in the U.S. affiliate's ownership chain that has a direct investment interest in the affiliate. Its ultimate beneficial owner (UBO) is
that person, proceeding up the U.S. affiliate's ownership chain beginning with and including the foreign parent, that is not owned more than
50 percent by another person.
The foreign parent group (FPG) consists of (1) the foreign parent,
(2) any foreign person, proceeding up the foreign parent's ownership
chain, that owns more than 50 percent of the person below it, up to
and including the UBO, and, (3) any foreign person, proceeding down
the ownership chain(s) of each of these members, that is owned more
than 50 percent by the person above it. In the U.S. balance of payments, transactions of U.S. affiliates with all members of the FPG, not
only transactions with foreign parents, are shown as transactions with
"affiliated" foreigners.
The diagram below illustrates relationships and transactions that
could occur between a U.S. affiliate and members of the FPG. Company A is a U.S. chemical company owned 50 percent by Company B, a
Netherlands finance affiliate, which is owned 100 percent by Company
C, a French manufacturing company. No single investor has more than
50-percent ownership of Company C. Like Company B, Company D, a
British company, is owned 100 percent by Company C. Therefore, Company A's foreign parent is Company B; Company A's UBO is Company
C. Company A's FPG consists of Companies B, C, and D. Company D is
in the FPG because, even though it does not have an ownership interest
in the U.S. affiliate, it is owned more than 50 percent by Company C,
the UBO.
If Company A receives a loan from Company D, the transaction would
be treated as a direct investment transaction in the balance of payments
accounts, because Company D is part of the FPG. The flow would be
recorded as an intercompany debt inflow from the United Kingdom;
repayments by the affiliate would be recorded as outflows to the United
Kingdom.
If Company A pays dividends to Company B, the transaction would
be recorded as a direct investment income payment between the United
States and the Netherlands in the U.S. balance of payments because
the dividends are paid directly to the foreign parent (not the UBO). If
the Netherlands company (Company B) then passes on the dividend to
the French UBO (Company C), this transaction would not be a U.S.to-foreign transaction; it is a foreign-to-foreign transaction and as such
is not recorded in the U.S. balance of payments. (It would, however,
be recorded in the balance of payments accounts of France and the
Netherlands.)
The direct investment positions of both Company B and Company D
are equal to the book value of their cumulative debt or equity transactions with Company A over time and are calculated at yearend. For
Company B, the position is equal to its equity (including reinvested
earnings) in Company A plus any net outstanding loans by it to Company A. Company D has an investment position with Company A equal
to the remaining balance of the loan. The position of Company C in
Company A is zero because it has no direct equity interest in Company
A and has made no loans to Company A.
UBO
Company C
(France)
100%
100%
Foreign Parent
Company B
(Netherlands)
I
I
U.S. Affiliate
Company A
Member of FPG
Company D
(United Kingdom)
Dividend
I
I
Intercompany loan
February 1990
Royalties and license fees are payments by U.S. affiliates to, less receipts
by U.S. affiliates from, their foreign
parents and other members of the foreign parent groups of fees for the use
or purchase of intangible property or
rights, such as patents, trademarks,
copyrights, franchises, manufacturing
rights, and other intangible assets or
proprietary rights. Payments and receipts are net of U.S. and foreign withholding taxes.
Other services transactions consist of
payments by U.S. affiliates to, less receipts by U.S. affiliates from, their foreign parents and other members of
the foreign parent groups of service
charges, charges for the use of tangible property, and film and television tape rentals. Service charges consist of fees for services—such as management, professional, or technical
services—rendered between U.S. affiliates and their foreign parent groups.
Financial and operating data
The primary focus of the financial
and operating data is on the overall operations of the U.S. affiliate,
not just on the affiliate's transactions
or positions with the foreign parent
group. The data cover, among other
things, U.S. affiliates' balance sheets
and income statements, employment
and employee compensation, merchandise trade, sources of external financing, and selected data by State (table
2). They cover only nonbank U.S. affiliates. (Selected data for bank affiliates
are available from the Federal Reserve
System.) The estimates are based on
sample data from BEA's Annual Sur-'
vey of Foreign Direct Investment in
the United States or on universe data
from BEA's Benchmark Survey of Foreign Direct Investment in the United
States. (The benchmark survey, or
census, is BEA's most comprehensive
survey and is normally conducted every 5 years.) An annual article in
the SURVEY OF CURRENT BUSINESS gives
a brief description and analysis of the
data. Separate publications provide
more detailed data. Data are available
annually for 1977 forward.
The information collected on the
overall operations of U.S. affiliates may
be used to analyze the impact of foreign
direct investment on the U.S. economy.
For example, the information
can answer questions such as: How
31
SURVEY OF CURRENT BUSINESS
Table 2.—Selected Data of Nonbank U.S. Affiliates,
1986-87
Change
1986
1987
Amount Percent
Thousands of employees
Employment
2,937.9
3,159.7
221.8
8
Millions of dollars
Total assets
838,039 926,042
88,003
11
Gross property, plant, and
equipment
Manufacturing '
Commercial property 2
Other
320,215 346,212
n.a. 124,803
n.a. 90,886
n.a. 130,523
25,997
n.a.
n.a.
8
n.a.
n.a.
n.a.
Sales
Goods
Services
Investment income
672,004 731,392
n.a. 621,848
n.a. 90,764
n.a.
18,780
59,388
n.a.
n.a.
n.a.
9
n.a.
n.a.
n.a.
Net income
U.S. merchandise exports
shipped by affiliates
U.S. merchandise imports
shipped to affiliates
2,458
9,859
7,401
301
49,560
47,929
-1,631
-3
125,732 140,617
14,885
12
n.a. Not available.
1. Consists of the gross book value of property, plant, and equipment
used for manufacturing, including petroleum refining.
2. Consists of the gross book value of all commercial buildings and
associated land owned by the affiliate that is used or operated by the
affiliate or leased or rented to others. Commercial buildings include
apartment buildings, office buildings, hotels, motels, and buildings used
for wholesale, retail, and services trades (such as shopping centers,
recreational facilities, department stores, bank buildings, restaurants,
public garages, and automobile service stations).
many people do foreign-owned companies employ? How much do affiliates
spend on plant expansions? What are
their assets or sales? To answer these
questions, data on the activity of the
affiliate as a whole are needed, regardless of the foreign ownership share or
the source of financing. Therefore, the
data are not adjusted for percentage of
foreign ownership. For example, if a
French company has a 49-percent interest in a U.S. affiliate, all of the affiliate's employment is included in the
data because all of the employees are
affected by the foreign parent's influence or control over the management of
the enterprise. (As discussed earlier, a
10-percent-or-more ownership interest
is considered evidence that a foreign
parent has sufficient influence or control over the management of the enterprise to constitute direct investment.)
In some cases, however, data users
may want to focus their analysis on
U.S. affiliates in which the foreign parent has a majority ownership share. In
response to this need, BE A is developing separate estimates of financial and
operating data for majority-owned U.S.
affiliates—those owned more than 50
percent by foreigners. These estimates
are expected to be available by mid1990.
Acquisition and establishment data
In the late 1970's, after an unprecedented surge in foreign direct investment, BEA developed and implemented a survey of new investments
that requires a report from every U.S.
business that is newly acquired or established by a foreign direct investor.
Since 1979, this survey has provided
BEA with the information on new investments needed to continually update its universe of foreign direct investment. The survey also provides
users with more timely information on
new investments than was available
previously. The results of the survey
are summarized in an annual SURVEY
article, and supplementary tables containing additional detail are available
from BEA.
The data from the survey cover
(1) existing U.S. business enterprises
in which foreign direct investors acquired, directly or through their U.S.
affiliates, at least a 10-percent ownership interest and (2) new U.S. business
enterprises established by foreign direct investors. The data do not cover
the acquisition of additional equity in
an existing U.S. affiliate by the foreign parent, the acquisition of an existing U.S. affiliate from a different foreign investor, or plant expansions by
an existing U.S. affiliate. These transactions are not considered new investments because they do not result in
U.S. affiliates being added to the direct investment universe; rather, they
are considered either a transfer or an
expansion of an ongoing investment by
foreign direct investors.
The survey provides data on investment outlays, that is, on how much foreign direct investors spend in a given
year to acquire or establish new U.S.
affiliates. Outlays are the total dollar cost of the equity interests acquired
or established. The survey also includes data on the number and type
of investments and investors and on
selected operating items—total assets,
sales, net income, employment, and
acres of U.S. land owned—for the new
U.S. affiliate.
Outlays are presented by type of investor, that is, the foreign parent or
an existing U.S. affiliate of the foreign
parent (table 3). In the first case, the
foreign parent acquires a direct ownership interest in the U.S. affiliate; in
the second case, the foreign parent acquires an indirect ownership interest
through its existing U.S. affiliate.
32
SURVEY OF CURRENT BUSINESS
Table 3.—Investment Outlays by Country of Each Ultimate Beneficial Owner, 1987-88
[Millions of dollars]
1988"
1987'
Acquisi- Estabtions lishments
Foreign
direct
investors
Total
All countries
Canada
Europe .
Of which:
France
Germany, Federal Republic of
Netherlands
Switzerland
United Kingdom
Latin America and Other Western
Hemisphere
Africa
Middle East
Asia and Pacific
Of which:
Australia
Japan
United States
Addenda:
European Communities (12)
OPEC
.
By type of
investment
By type of
investor
By type of
investment
U.S.
affiliates
Total
By type of
investor
Acquisi- Estabtions lishments
Foreign
direct
investors
U.S.
affiliates
40,310
33,933
6,377
11,773
28,536
65,019
60,003
5,016
16,400
1,276
1,169
107
409
867
10,405
10,291
114
752
9,653
25,517
24,003
1,514
6,634
18,884
34,157
32,641
L516
6,958
27,199
2,044
4,664
391
2,085
15,142
1,949
4,318
204
1,926
14,648
96
347
188
160
494
946
319
122
1,302
3,300
1,098
4,345
269
784
11,842
3,753
1,375
1,937
2,017
21,520
3,276
1,242
1,837
1,593
21,371
477
133
100
424
149
201
430
218
530
4,779
3,553
944
1,719
1,487
16,741
1,483
1,030
454
526
957
106
83
23
86
20
0
(D)
o
CO
CO
28
23
5
6
22
925
465
460
527
398
1,004
933
71
112
892
10,928
7,112
3,816
3,522
7,406
19,278
16,004
3,274
8,467
10,811
2,691
7,006
2,609
3,340
82
3,666
663
2,103
2,028
4,903
4,211
14,166
4,014
11,524
197
2,642
255
7,599
3,956
6,567
(°)
(D)
CO
CO
CO
41
29
12
19
22
22,895
1,077
21,631
592
1,264
485
5,112
554
17,783
523
31,175
1,322
30,157
1,250
1,018
72
6,274
433
24,901
889
48,619
' Revised.
fD Preliminary.
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000 (±).
The Sets of Data Compared
Acquisition and establishment data
compared with balance of payments
data
The acquisition and establishment
data and the balance of payments data
provide different measures of the annual growth in foreign direct investment in the United States.
The acquisition and establishment
data cover the actual outlays to establish or acquire new U.S. affiliates, regardless of how or by whom the investment was financed. Thus, the outlays
may be made by either the foreign parent or an existing U.S. affiliate, and
the source of financing may be other
than the foreign parent group, such as
local borrowing by existing U.S. affiliates. In contrast, the balance of payments data cover only transactions between foreign parent groups and U.S.
affiliates. If, for example, a U.S. affiliate of a German chemical manufacturer acquired a U.S. chemical company by borrowing funds in the United
States, the borrowed funds would be
included in investment outlays but not
in capital inflows in the balance of payments because the acquisition did not
involve funds from the foreign parent.
February 1990
son from another because no new affiliate was created. For example, if
a German chemical manufacturer acquired a U.S. chemical company that
was already foreign owned, and thus
already a U.S. affiliate, the purchase
would not be covered in the acquisition
and establishment data. This transaction would be included in the balance of
payments data only if the new foreign
parent group provided funds to another
U.S. affiliate to finance the acquisition
indirectly.3
Finally, the two sets of data are presented differently. The balance of payments data are presented by country
of foreign parent and by industry of
affiliate. The acquisition and establishment data are presented by country of UBO and by industry of the U.S.
business enterprise acquired or established. (See subsections on country and
industry classification on pp. 34r-35.)
Financial and operating data compared
with balance of payments data
Another difference is that direct investment capital flows finance any of
the various operations of existing as
well as new U.S. affiliates, whereas
investment outlays finance only acquisitions and establishments of new
U.S. affiliates. For example, if a German chemical manufacturer supplied
its U.S. affiliate with funds to expand
a plant, the funds would be included in
the balance of payments data as a capital inflow, but would not be included
in the acquisition and establishment
data as an investment outlay because
no new affiliate was created.
Direct investment capital flows related to acquisitions or establishments
occur if the foreign parent purchases
the equity directly or if the foreign parent or another member of the foreign
parent group supplies funds to a U.S.
affiliate in order to acquire or establish
another U.S. business. Even in these
cases, the capital flows may not equal
total outlays, because the capital flows
may have financed only a portion of the
total. In any event, this type of inflow
cannot be separated from other capital
flows between the foreign parent group
and its U.S. affiliates.
The acquisition and establishment
data do not cover the acquisition of
an existing affiliate by one foreign per-
These two sets of data provide different measures of the size of foreign direct investment in the United States.
The measures differ mainly because
the financial and operating data cover
the overall activities of the U.S. affiliate and are not adjusted for percentage of foreign ownership. In contrast,
the balance of payments data focus exclusively on the foreign parent group's
investment in the affiliate.
The balance of payments data and
the financial and operating data are
closely related but the terminology
used for certain items in the two sets
of data can be a source of misunderstanding to users. For example, data
users often confuse the direct investment position—a balance-of-payinentsrelated item—with the total assets of
the affiliate—a financial and operating
item. Total assets of the affiliate cover
all assets of the affiliate carried in its
balance sheet, regardless of how the
assets are financed. The position is the
portion of the affiliate's assets that is
financed by the foreign parent or other
members of the foreign parent group in
the form of debt or equity.
3. This transaction would not be included in the balance of payments data if the foreign parent purchased
capital stock in the U.S. affiliate from another foreign person, because that would be a foreign-to-foreign
transaction. However, if the foreigners are in different countries, offsetting valuation adjustments would
be made by BEA to the direct investment position to reduce the position of the seller's country and to increase
the position of the purchaser's country.
Table 4.—External Financial Position of Nonbank U.S. Affiliates, Transactor by Account, 1987
[Millions of dollars]
External sources of funds
Current liabilities and long-term debt
Total
Total
AH transactors
Other foreign persons
U.S. persons
To banks
To
nonbanks
Receivables and financial
investments
Owners'
equity
excluding
retained
earnings
Total
Current
and
noncurrent
receivables
Noncurrent
financial
investments
783,759
608,830
130,085
478,745
174,929
272,717
226,663
46,054
234,689
25,569
523,501
92,520
24,573
491,737
3,204
14,155
112,725
89,315
10,418
379,012
142,169
996
31,764
24,604
8,325
239,788
22,997
5,825
197,840
1,607
2,500
41,948
One way to see the relationship between the direct investment position
and total assets of the U.S. affiliate
is by examining the composition of external financing of affiliates. Table 4
presents information on the external
sources of funds, including funds from
the foreign parent group, used by affiliates to finance assets in 1987. Affiliate liabilities and owners' equity are
broken down by transactor—that is, by
the foreign parent .group, unaffiliated
foreign persons, or U.S. persons. The
values for liabilities and owners' equity of the foreign parent group are
roughly equal to the direct investment
position.4
Two important observations can be
made from this table. First, although
financing from foreign parent groups is
an important source of funds, financing
from U.S. sources is even more important. Second, foreign parents account
for more than 80 percent of all owners' equity in nonbank U.S. affiliates.
Thus, although only a 10-percent ownership interest in an affiliate qualifies
as direct investment, most foreign parents wholly own, or have a majority interest in, their U.S. affiliates.
Another financial and operating data
item that is sometimes confused with
the position is the gross book value of
property, plant, and equipment of affiliates. This item is taken from affiliates' balance sheets and is a measure of their total fixed assets, regardless of how these assets are financed. The direct investment position, as stated earlier, is the cumulative value of financing provided by the
foreign parent group, regardless of how
the funds are used. Thus, the position
4. The figure for equity and debt investment by the
foreign parent group ($234.7 billion) in table 4 does not
match the position figure ($271.8 billion), primarily because the former, unlike the latter, does not cover bank
affiliates and, for nonbank affiliates, does not include
retained earnings or affiliates' receivables due from the
foreign parent group. Also, the external financing data
are on a fiscal year basis, whereas the position data are
on a calendar year basis.
33
SURVEY OF CURRENT BUSINESS
February 1990
reflects sources of funds, whereas the
gross book value of property, plant, and
equipment reflects uses of funds.
BEA data on the gross book value of
property, plant, and equipment are collected by State. Thus, they provide a
measure of the extent of the operations
of affiliates in a given State. However,
information on the amount of foreign
parent financing of affiliate operations
in a State, or on how much foreign direct investors spend on property, plant,
and equipment in the State, is not collected by BEA.
The financial and operating data are
generally presented by country of UBO
and the balance of payments data are,
as noted earlier, presented by country of foreign parent. The country of
foreign parent is often the same as
the country of UBO. Exceptions arise
when, for certain foreign tax, regulatory, or other purposes, foreign direct investors find it advantageous to
hold or finance their direct investments
in the United States through third
countries. For example, many Canadian UBO's hold their U.S. affiliates
through affiliates in the Netherlands
for tax reasons. In addition, a significant portion of U.S. affiliate financing,
including equity capital, comes from affiliates in Caribbean offshore financial
centers.
Characteristics of the Data
Data Collection
All foreign direct investments in
U.S. business enterprises, including all
ownership of real estate other than for
personal use, are subject to mandatory reporting to BEA under the International Investment and Trade in
Services Survey Act (P.L. 94-472, 90
Stat. 2059, 22 U.S.C. 3101-3108, as
amended). The data are collected by
means of a series of surveys. Table
5 describes the types of information,
the data collection procedures, and the
publications where the results can be
found.
Confidentiality
Information collected by BEA is protected against unauthorized public disclosure by the International Investment and Trade in Services Survey Act.
The act states that the information collected cannot be published or released
in such a manner that the person or
company that furnished the information can be specifically identified. The
act further specifies that the information collected must be used only for statistical and analytical purposes. Use of
an individual company's data for tax,
investigative, or regulatory purposes is
prohibited.
Confidentiality is crucial for maintaining the integrity of the direct investment data collection system. Confidentiality assures companies that
their competitors will not gain an unfair advantage by having access to
their data and that the data are gathered for statistical, not regulatory, purposes. If confidentiality were not guaranteed, companies would be less willing to provide accurate information,
and the quality of the resulting statistics would suffer.
To ensure confidentiality, data are
tested before publication to determine
if they should be suppressed (that is,
not shown). To avoid disclosing the
data of an individual company, a "(D)"
is placed in the data cell. The suppression of data in a cell limits analysis by
users. However, BEA can do analyses based on individual company data,
and it can use individual company data
to do special analyses for outside researchers at cost, as long as the results do not disclose proprietary information. The act also permits other
Federal agencies to have access to the
individual company data if they are
designated to perform analytical or statistical functibns under the act.
Valuation of the direct investment
position
As noted previously, the direct investment position estimates are carried at book value. Thus, they largely
reflect prices at the time of investment
rather than prices of the current period. As a result, the foreign direct investment position may be understated
in relation to current value.
34
SURVEY OF CURRENT BUSINESS
Book value is used mainly because
historical cost is the accepted basis
for company accounting records both
in the United States and many other
countries. Thus, with few exceptions,
book values are the only ones readily
available to companies required to report in BEA surveys. For those companies that do have current value estimates, the estimates differ from company to company. For example, estimates may represent an "exit" or sale
value, which can be based on an independent appraisal of an affiliate or
on offers by potential buyers; or an appraisal oriented towards tax or regulatory reporting; or some measure of specific interest to the company itself or to
its shareholders. BEA is investigating
the feasibility of using indirect methods to estimate the current value of the
foreign direct investment position.
Country classification
The foreign parent and UBO of a
U.S. affiliate are each classified by
country. For affiliates with more than
one foreign parent or UBO, each foreign parent and UBO is classified
separately.
The financial and operating data
and the acquisition and establishment
data are published primarily by country of UBO because the country of the
person that ultimately controls, and
February 1990
that therefore derives the benefits from
owning or controlling, the U.S. affiliate
is considered the most important in analyzing these data sets. When a given
affiliate has two or more UBO's, the
data are shown in the country of the
UBO having the largest percentage of
ownership in the U.S. affiliate.
The direct investment position and
balance of payments data are classified by country of foreign parent rather
than by country of UBO. Any transactions with other members of the
foreign parent group are assigned to
the countries of the other members.
This classification is consistent with
the U.S. balance of payments methodology, which requires that each trans-
Table 5.—BEA's Foreign Direct Investment Surveys
Survey title and number
Types of information
Data collection procedures
SURVEY OF CURRENT BUSINESS article
and related publications
Initial Report on a Foreign Person's
Direct or Indirect Acquisition,
Establishment, or Purchase of the
Operating Assets of a U.S. Business
Enterprise, Including Real Estate (BE13) and Report by a U.S. Person Who
Assists or Intervenes in the
Acquisition of a U.S. Business
Enterprise by, or Who enters into a
Joint Venture with, a Foreign Person
(BE-14).
Investment outlays by foreign direct
investors for the direct or indirect
acquisition or establishment of a new
U.S. affiliate, and selected operating
data of the new U.S. affiliate (total
assets, sales, acres of land, net
income, and employment).
Mandatory report required when a
foreign person or an existing U.S.
affiliate establishes or acquires a 10percent or more voting interest in a
U.S. business enterprise and when real
estate is purchased other than for
personal use. An exemption form is
required if the newly acquired or
established U.S. affiliate costs less
than $1 million and does not own
more than 200 acres of land.
"U.S. Business Enterprises Acquired or
Established by Foreign Direct
Investors" in the May SURVEY OF
CURRENT BUSINESS. Supplementary
tables available from BEA for 1980
forward.
Transactions of U.S. Affiliate, Except an
Unincorporated Bank, with Foreign
Parent (BE-605) and Transactions of
Banking Branch or Agency with
Foreign Parent (BE-606B).
Changes in foreign parents' equity in
their U.S. affiliates; intercompany
debt transactions between U.S.
affiliates and foreign parent groups;
foreign parents' share of affiliate net
income, distributed earnings, capital
gains and losses, reinvested earnings,
and interest; royalties and license
fees; and other services transactions
between U.S. affiliates and their
foreign parent groups.
Mandatory quarterly survey of U.S.
affiliates, when an affiliate's assets,
annual sales, or annual net income
exceeds $20 million.
Quarterly data on capital, income, and
other flows appear in the March, June,
September and December SURVEY
articles on U.S. international
transactions. Direct investment
position data appear in the June
SURVEY article on the U.S.
international investment position.
Detailed tables on the position and
related capital, income, and other
flows between parents and affiliates
appear in the August SURVEY.
Annual Survey of Foreign Direct
Investment in the United States (BE15).
U.S. affiliates' balance sheets and
income statements; external financial
position; property, plant, and
equipment; employment and employee
compensation; U.S. merchandise
trade; and research and development
expenditures, including selected data
items by State.
Mandatory annual survey of U.S.
affiliates, when an affiliate's assets,
sales, or net income exceeds $10
million. Beginning in 1988, a long
form must be filed by affiliates with
assets, sales, or net income over $20
million, and a short form must be
filed by affiliates with assets, sales, or
net income are between $10 million
and $20 million.
"Operations of U.S. Affiliates of
Foreign Companies," usually in the
May SURVEY. (In 1989, this article
was replaced by an article on the
1987 benchmark survey in the July
SURVEY (see below); the article will
also appear in the July SURVEY in
1990.) More detailed data for 1977-85
appear in separate publications
available from BEA by the same title.
Revised 1986 data are available from
GPO.
Benchmark Survey of Foreign Direct
Investment in the United States (BE12).
Complete financial and operating data
for each U.S. affiliate of foreign direct
investors, including selected items by
State, and data on the investment
position and transactions between U.S.
affiliates and their foreign parent
groups.
Mandatory benchmark survey, or census,
taken every 5 years of each U.S.
affiliate, when the U.S. affiliate's
assets, sales, or net income exceeds
$1 million or when the affiliate owns
200 or more acres of U.S. land.
Affiliates below the exemption level
must file an exemption claim on
which they report the value of their
assets, sales, and net income.
Affiliates with assets, sales, or net
income greater than $20 million file a
long form; those with assets, sales, or
net income exceeds $1 million, but
for which no one item exceeds $20
million, file a short form.
Preliminary data appeared in "U.S.
Affiliates of Foreign Companies: 1987
Benchmark Survey Results" in the
July 1989 SURVEY. More detailed data
appear in a separate publication
available from GPO entitled Foreign
Direct Investment in the United
States: 1987 Benchmark Survey,
Preliminary Results. Final results will
be available this summer.
February 1990
action be assigned to the foreign country with which it occurred.
Industry classification
Data can be classified by industry in
three ways: Industry of U.S. affiliate,
industry of sales, and industry of UBO.
The most widely used classification is
by industry of U.S. affiliate.
When data are classified by industry of U.S. affiliate, BEA assigns each
affiliate the code of the industry that
accounts for the largest percentage of
the affiliate's sales. The procedure is
as follows:
(1) A U.S. affiliate is first classified in
the major industry that accounted for
the largest percentage of its sales. Major industry groups are (a) agriculture,
forestry, and fishing, (b) mining, (c)
petroleum, (d) construction, (e) manufacturing, (f) transportation, communication, and public utilities, (g) wholesale trade, (h) retail trade, (i) finance,
insurance, and real estate, and (j)
services.
(2) Within the major industry group,
the U.S. affiliate is classified in the
two-digit subindustry in which its sales
were largest.
(3) Within this two-digit industry,
the U.S. affiliate is classified in the
three-digit subindustry in which its
sales were largest.
This procedure ensures that the U.S.
affiliate is not assigned to a threedigit subindustry that is outside its
major industry even if its sales in that
subindustry exceed its sales in the
largest three-digit subindustry within
its major industry.
When classified by industry of affiliate, all data for an affiliate are shown
in a single industry, even if the affiliate has activities in several industries. Thus, the distribution of data
by industry of affiliate may differ from
the distribution that would result if
each of the activities of an affiliate
were separately classified by industry.
For example, U.S. affiliates of many
foreign automobile manufacturers are
classified in wholesale trade, not in
transportation equipment manufacturing, because most of their sales result
from the wholesale distribution of imported cars rather than from sales of
cars they manufacture in the United
States,
When classified by industry of sales,
data in secondary industries are shown
in those industries rather than all data
being shown in the affiliate's primary
35
SURVEY OF CURRENT BUSINESS
Comparisons of Foreign
Direct Investment Data
With All-U.S.-Business Data
industry. The items that are available by industry of sales are employment and sales. Prior to 1987, these
data were only available in benchmark
years, but are now available annually.
Classification by industry of UBO is
much less detailed than classification
by industry of affiliate. Each UBO is
assigned to 1 of 17 broad industry categories that is specified by the affiliate.
This section provides examples of affiliate data and all-U.S.-business data
that are reasonably comparable and
that provide an indication of the foreign investment share of the U.S. econ-
Table 6.—Selected Comparisons of Nonbank U.S. Affiliates and All Nonbank U.S. Businesses, 1986-87
1986
U.S.
affiliates
1987
All U.S.
businesses
U.S.
affiliates
All U.S.
businesses
U.S. affiliates as a
percentage of all U.S.
businesses
1986
1987
Thousands of employees
2,938
84,055
3,160
86,584
3.5
Billions of dollars
U.S. merchandise trade:
U.S. merchandise exports
U.S. merchandise imports
,
Research and development expenditures.
Expenditures for new plant and equipment
Gross product
. ,
49.6
125.7
226.5
365.7
47.9
140.6
253.9
406.3
21.9
34.4
18.5
34.6
5.8
28.5
148.3
61.7
379.5
3,626.0
6.2
31.6
151.9
64.9
389.7
3,875.9
9.4
7.5
4.1
9.6
8.1
3.9
2,265.2
.6
.6
Millions of acres
14
Acres of land owned
14
2,265.2
Table 7.—Total Assets and Sales of U.S. Affiliates and All U.S. Businesses in Manufacturing, 1986-87
Millions of dollars
All U.S. businesses
U.S. affiliates
1986
1986
1987
1987
U.S. affiliates as a
percentage of all U.S.
businesses
1986
1987
Total assets
Stone, clay, and glass products
Chemicals and allied products
Primary metal industries
Petroleum and coal products
Food and kindred products '
Electric and electronic equipment
Printing and publishing
Instruments and related products
Fabricated metal products
Paper and allied products
Machinery, except electrical
Textile products
Transportation eauiDment ..
..
Other
243,429
276,764
1,994,119
2,135,266
12.2
13.0
11,610
70,709
15,231
51,003
2,406
21,029
20,156
11,124
4,419
7,199
5,264
10,433
1,188
6,897
4,761
15,016
75,552
14,975
58,352
5,875
27,689
20,121
10,521
7,652
7,820
6,027
12,171
1,417
7,412
6,164
46,784
217,166
73,942
334,952
41,329
219,791
173,262
94,154
62,943
84,491
69,082
211,901
26,729
251,406
86,187
48,057
244,446
78,678
338,384
43,956
235,690
190,363
99,617
78,988
86,746
85,279
213,658
30,817
276,740
83,847
24.8
32.6
20.6
15.2
5.8
9.6
11.6
11.8
7.0
8.5
7.6
4.9
4.4
2.7
5.5
31.2
30.9
19.0
17.2
13.4
11.7
10.6
10.6
9.7
9.0
7.1
5.7
4.6
2.7
7.4
Sales
Manufacturing
Stone, clay, and glass products
Chemicals and allied products
Primary metal industries
Petroleum and coal products .
....
Rubber and plastics products.
.
Food and kindred products '
Electric and electronic equipment
..
Instruments and related products
Fabricated metal products
Paper and allied products
Textile products
Transportation eauioment
Other
....
222,025
262,343
2,220,931
2,378,212
10.0
11.0
11,602
60,120
16,283
31,408
2,885
21,676
23,579
8,627
4,493
8,819
5,170
10,857
1,588
10,034
4,884
12,075
70,238
18,259
41,641
6,546
27,751
25,704
9,049
6,802
8,879
6,350
13,087
1,840
8,253
5,869
52,901
205,778
85,523
226,519
60,596
317,523
193,892
107,552
63,152
115,694
74,844
201,284
46,226
322,438
147,009
54,338
225,200
93,627
248,324
63,293
340,135
210,870
116,587
74,171
123,994
95,576
206,438
48,284
324,117
153,258
21.9
29.2
19.0
13.9
4.8
6.8
12.2
8.0
7.1
7.6
6.9
5.4
3.4
3.1
3.3
22.2
31.2
19.5
16.8
10.3
8.2
12.2
7.8
9.2
7.2
6.6
6.3
3.8
2.5
3.8
1. Includes tobacco manufacturing.
NOTE.—In this table, unlike most other tables on direct investment published here and elsewhere, petroleum and coal products is included in
manufacturing in order to be consistent with the industry classification of the all-U.S.-business data.
36
omy. Table 6 shows selected U.S. affiliate and all-U.S.-business data for all
industries combined, and table 7 compares total assets and sales of U.S. affiliates and all U.S. businesses in manufacturing. Table 8 lists the sources of
the all-U.S.-business data. The data in
tables 6 and 7 are included here only to
illustrate some of the comparisons that
can be made. Additional comparisons
may also be possible.
As tables 6 and 7 indicate, the U.S.
affiliate share of the total U.S. economy
varies according to the measure used.
Analyses of several measures and the
variations among them can be found in
other BE A publications.5
It should be noted that, in cases
where reasonably comparable U.S. affiliate and all-U.S. data are available,
not all measures are available for every
industry. For example, for some items,
such as assets and sales, comparable U.S. affiliate and all-U.S.-business
data are available only for manufacturing. For other items, such as
employment, strictly comparable data
are available only at the all-industries
level. 6
For a few items, such as the foreign
direct investment position, no readily
available U.S. counterpart exists. Because the position is the most commonly used measure of direct investment, many users would like to relate it to a comparable figure for all
U.S. businesses. However, the position, as explained earlier, is the cumulation of capital flows between U.S. affiliates and members of the foreign parent group, and it is a concept relevant
only in a balance of payments context.
Regardless of the measure used,
comparisons of the U.S. affiliate and
all-U.S.-business data should be made
with caution because of definitional
and conceptual differences in the data
series, such as differences in valuation,
industry classification, and coverage.
Valuation.—Comparisons of U.S. affiliate assets and all-U.S.-business
data on assets may be affected by the
use of book rather than current value.
When a company is acquired, whether
by foreign or U.S. buyers, its assets are
often revalued to reflect the new, gen5. For the most recent analysis, see "U.S. Affiliates of
Foreign Companies: 1987 Benchmark Survey Results"
in the Uuly 1989 SURVEY OF CURRENT BUSINESS.
6. However, reasonable comparisons below that level
can be made using all-U.S. employment data disaggregated by industry of establishment and affiliate data
disaggregated by industry of sales. See the subsection
on industry classification below and the article cited in
footnote 5 for further explanation.
SURVEY OF CURRENT BUSINESS
erally higher value implicit in the acquisition price. Because much of the
growth in foreign direct investment in
recent years has involved acquisitions,
the share of affiliates' assets that has
been revalued is probably much higher
than that for all U.S. businesses. Thus,
affiliates' assets may tend to be overstated relative to assets of all U.S.
businesses.
Industry
classification.—Comparisons of U.S. affiliate and all-U.S.business data at detailed industry levels are not appropriate when the affiliate data are classified by industry
February 1990
at the enterprise (company) level and
the all-U.S.-business data are classified by industry at the establishment
level. For example, when affiliate employment is classified by industry of enterprise but all-U.S.-business employment is classified by industry of establishment, comparisons of the affiliate share of U.S. employment can only
be made for broad industry groups,
such as petroleum, manufacturing, or
wholesale trade.
In benchmark years and in future
annual publications, comparisons of
employment can be made using data
Table 8.—AH-U.S.-Business Data Sources Comparable to Foreign Direct Investment
in the United States Data
Item
All-U.S.-business data source
Comments
Employment.
Table 6.6B, "National Income and
Product Accounts Tables," July
SURVEY OF CURRENT BUSINESS.
Employment of government and
government enterprises, banks, and
private households must be subtracted
from all-U.S. data. FDIUS data are
classified by industry of enterprise;
all-U.S. data are classified by industry
of establishment. Thus, comparisons
can only be made for major industries.
Employment by industry
of sales.
Same as above..
FDIUS data available for 1980 and 1987
and will be available annually for
1988 forward.
Manufacturing
employment by State.
Employment and Earnings, May 1988,
Bureau of Labor Statistics, U.S.
Department of Labor.
Total assets..
Quarterly Financial Report for
Manufacturing, Mining, and Trade
Corporations, Census Bureau, U.S.
Department of Commerce.
Comparison is limited to manufacturing
because of differences in coverage.
Sales.
Same as for total assets
Same as for total assets.
Expenditures for new
plant and equipment.
"Plant and Equipment Expenditures,
Third Quarter 1989," Commerce
News Release (CB-89-199), December
1989, Census Bureau, U.S.
Department of Commerce.
These data have been collected and
published by the Census Bureau since
August 1988. Data for years prior to
1987 are available in the June issues
of the SURVEY OF CURRENT BUSINESS.
Gross product..
Table 6.1, "National Income and
Product Accounts Tables," July
SURVEY OF CURRENT BUSINESS.
All-U.S. data are classified by industry
of establishment. Government,
banking, and private household figures
should be subtracted from all-U.S.
data for a closer comparison. FDIUS
tables are available from BEA.
Merchandise trade..
Highlights of US. Export and Import
Trade (publication FT990), Census
Bureau, U.S. Department of
Commerce.
Research and
development
expenditures.
Research and Development in Industry,
National Science Foundation.
Acres of land owned..
Geography Division, Census Bureau,
U.S. Department of Commerce.
FDIUS Foreign direct investment in the United States.
Although the totals in the two data sets
are comparable, industry comparisons
are limited because of differences in
industry classification. For a given
industry, all-U.S. data include R&D
performed by companies in that
industry and exclude R&D performed
for companies in that industry by
others; FDIUS data include R&D
performed for the companies in that
industry by others and exclude R&D
performed by the companies in that
industry for others.
February 1990
classified by industry of sales. Affiliate employment classified by industry of sales should approximate that
classified by industry of establishment
(plant) because an affiliate that has an
establishment in an industry usually
also has sales in the industry.
Another difference in industry classification between affiliate data and allU.S.-business data is the treatment of
the petroleum and coal products industry. In the affiliate data, companies in this industry are classified
in petroleum, whereas in the all-U.S.business data, they are classified in
manufacturing. However, in this in-
SURVEY OF CURRENT BUSINESS
37
stance, the affiliate data can be easily (QFR) contains data on total assets and
reclassified to be comparable to the all- sales by U.S. manufacturing subindusU.S.-business data.
try. The comparisons made with these
all-U.S.-business data are limited to
manufacturing because the QFR data
Coverage.—The data for U.S. af- for mining and trade cover only corfiliates can be compared with data porations with assets over $25 milfor all U.S. businesses at fairly de- lion, whereas the universe estimates
tailed industry levels by using all-U.S.- for U.S. affiliates cover U.S. business
business data classified at the enter- enterprises with assets, sales, or net
prise level. However, differences in income over $1 million. Also, the exclucoverage between the two data sets sion of unincorporated businesses from
may preclude comparisons for some in- the QFR mining and trade data means
dustries. The Census Bureau's Quar- that a significant portion of the allterly Financial Report for Manufactur- U.S.-business activity in these indusing, Mining, and Trade Corporations tries is missing.
A Comprehensive Reference on the U.S. Economy
C^TT A TPYC^TFYJ^C!
€N
Historical data, sources, definitions, and methods
of compilation for over 2,000 series, including . . .
General business activities, such as:
• Business sales and inventories
• Construction and real estate
• Consumer, producer, and farm prices
• Finance
• Foreign trade
• Industrial production
• Labor force, employment, and earnings
• Personal income and outlays
BUSINESS STATISTICS,
1961-88
And industries, such as:
• Chemicals
• Electric power and gas
• Food and tobacco
• Lumber
• Metal and machinery
• Petroleum and coal
• Pulp and paper
• Textiles
The new edition, the 26th of this supplement to the SURVEY OF CURRENT BUSINESS, presents monthly data for 1985-88 and
annual data for 1961-88 for all series that appear in the SURVEY'S blue pages. For key series, the monthly data extend
back to 1961.
The volume also presents quarterly and annual data for 1957-88 for selected series prepared by the Bureau of
Economic Analysis: National income and product accounts and U.S. international transactions.
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A User's Guide to BEA Information
Publications, Computer Tapes, Diskettes, and Other Information Services
BEA. provides basic information on such key issues
as
economic growth, inflation, regional development, and
the Nation's role in the world economy. This guide,
which lists the most recent and most frequently requested BEA products and services, helps users locate
that information.
The guide contains program descriptions and entries
for specific products and services. The first section, entitled "General," describes the products and services that
cut across the range of BEA's work. The following sections describe the products and services related to BEA's
four program areas: National economics, regional economics, international economics, and other tools for measuring, anatyzing, and forecasting.
General
BEA's current national, regional, and international estimates usually appear first in news releases. The information in news releases is available to the general public
in three forms: On recorded telephone messages, online
through the Economic Bulletin Board, and in BEA Reports. This section describes these services, as well as the
SURVEY OF CURRENT BUSINESS—BEA's monthly publication
of record—and products related to it. Most of BEA's work
is presented in the SURVEY OF CURRENT BUSINESS, either in
full or summary form. The presentations of current estimates and analyses are usually on a regular schedule;
this schedule is noted in each of the program-description
sections that follow. For more information on BEA's programs, products, and services, write to the Public Information Office, BE-53, Bureau of Economic Analysis, U.S.
Department of Commerce, Washington, DC 20230, or call
(202) 523-0777.
1.1 Recorded Telephone Messages. Brief (3-5 minutes) recorded telephone messages summarizing key estimates immediately after their release. (See outside
back cover for 1990 release dates.) The messages are
available 24 hours a day for several days following release. The usual time of release (eastern standard or
eastern daylight time) and the telephone numbers to call
are:
Leading Indicators (8:30 a.m.)
(202) 898-2450
The message is updated weekly, usually on Monday, to include recently available component
data that will be incorporated into the next release.
Gross National Product (8:30 a.m.)
-2451
Personal Income and Outlays
(10:00 a.m.)
-2452
Merchandise Trade, Balance of Payments
Basis or U.S. International
Transactions (10:00 a.m.)
-2453
The message summarizes the most recently released of these two series.
1.2 Economic Bulletin Board. Online computer access to news releases and other information. BEA places
an increasing range of its information on the Economic
Bulletin Board (EBB) maintained by the Office of Business Analysis of the Department of Commerce. News
releases are available on the Bulletin Board shortly after their release. (See outside back cover for 1990 release
dates.) Selected estimates and articles such as the "Business Situation" and other SURVEY OF CURRENT BUSINESS
articles are also available. (Other items in this guide
that are available through the EBB are marked "EBB"
after the title.) The Bulletin Board may be accessed by
personal computer, computer terminal, or word processor equipped with a modem; the information available
on it—which includes information from several Federal
agencies—may be either viewed on the user's screen or
downloaded. The Bulletin Board is available by subscription from NTIS. A $25.00 registration fee covers 2 hours
of connect time on the system; additional time is charged
by the minute. Instant hook-up is available. For more
information, call the Commerce Department's Office of
Business Analysis at (202) 377-1986.
1.3 BEA Reports (EBB, news release). Five sets of
reports that present the information contained in the
What's New?
• Business Statistics, 1961-88 (see reference no. 1.6);
• State Personal Income: 1929-87 (see reference no. 6.2);
• Foreign Direct Investment in the United States: 1987 Benchmark
Survey, Preliminary Results (see reference no. 10.4);
• Discontinuance of Business Conditions Digest (see box on
page 50).
39
SURVEY OF CURRENT BUSINESS
40
February 1990
How To Use This Guide and
How To Order BEA Products and Services
Entries in this guide are arranged by program area. A sample entry follows:
2.7 The National Income and Product Accounts of the United States,
1929-82: Statistical Tables (publication). The full set of NIPA tables. Also
includes a selected bibliography and the definitions and classifications underlying
the NIPA's. (1986) Available from GPO: Stock No. 003-010-00174-7, price $23.00.
The sample entry begins with a reference number, which consists of a number, a period, and a second number; the first number refers to the
subject area, and the second number refers to the specific product.
Products and services are available from three sales agents. Abbreviations used for the sales agents follow:
l£S!A/B12A--Economic and Statistical Analysis/Bureau of Economic Analysis
GPO--U.S. Government Printing Office, Superintendent of Documents
JYT/S-National Technical Information Service
Order forms are provided at the end of this guide. They give the agents' complete mailing addresses and, for GPO and NTIS, telephone
and fax numbers for placing charge orders. Orders placed by mail must include title and stock or accession numbers (see sample entry) and
must be accompanied by payment.
BEA news releases for the following areas: Gross national product; personal income and outlays; regional
reports; international reports; and composite indexes of
leading, coincident, and lagging indicators. The reports
contain summary estimates. All reports are available online through the EBB (see reference no. 1.2). The printed
reports are mailed the day after estimates are released.
Annual subscriptions to the printed reports may be ordered individually or for the group of five sets. Order
information for the group of five sets is given below. For
information on individual sets: Gross national product,
see reference no. 2.1; personal income and outlays, see
reference no. 2.2; regional reports, see reference no. 5.1;
international reports, see reference no. 8.1; and composite indexes, see reference no. 11.1.
All Five Sets. Usually a total of 55 printed reports.
Available from ESA/BEA: Accession No. BEA-19-S,
price $110.00 per year.
1.4 Survey of Current Business (publication). A
monthly journal containing estimates and analyses of
U.S. economic activity. Includes the "Business Situation"—a review of current economic developments—and
articles pertaining to the national, regional, and international economic accounts and related topics. A few of the
articles that appeared in 1989 were "Alternative Measures of Real GNP," "U,S. Affiliates of Foreign Companies: 1987 Benchmark Survey," "County and Metropolitan Area Personal Income, 1985-87," "BEA's Measurement of Computer Output," and "Leading Indicators and
the Trime Mover' View." "Looking Ahead," a box on
the first page of each issue of the SURVEY OF CURRENT
BUSINESS, highlights upcoming special articles, changes
in the schedule for regular articles, and the availability of major BEA publications. (The June and December issues contain subject guides for the January-June
and the January-December issues, respectively.) Current quarterly estimates of the national income and product accounts (see reference no. 2.0) appear every month.
In addition, the journal contains 36 pages of tables (the
S-pages) that present over 1,900 major economic series
obtained from public and private sources. Available from
GPO: List ID SCUB, price $18.00 per year (second class),
$22.50 (foreign), or $43.00 (domestic first class); $6.50
single issue.
1.5 S-page Data (EBB, diskette). Series shown in the
S-pages (or blue pages) of the current issue of the SURVEY
OF CURRENT BUSINESS. Updated monthly. Available online
through the EBB (see reference no. 1.2). The diskettes
are available from ESA/BEA on a subscription basis: Accession No. BEA CBA 87-401, price $200.00 per year.
1.6 Business Statistics, 1961-88 (publication).
Monthly or quarterly data for 1985-88 and annual data
for 1961-88 for series that appear in the S-pages (or blue
pages) of the SURVEY OF CURRENT BUSINESS. These series
include business sales, inventories, and orders; prices;
employment and unemployment; construction; banking
and finance; transportation; and many other industries
and commodities. An appendix provides data for principal BEA series of the national income and product accounts and of U.S. international transactions. Also contains definitions of terms, sources of data, and methods
of compilation. (1990) Available from GPO: Stock No.
003-010-00198-4, price $16.00.
National Economics
BEA's national economics program encompasses the
national income and product accounts, government
transactions on a national income and product accounting basis, and the input-output accounts.
National income and product accounts
2.0 The national income and product accounts
(NIPA's)—the most widely used branch of the national
economic accounts—show the value and composition of
the Nation's output and the distribution of incomes generated in its production. The accounts include estimates
February 1990
SURVEY OF CURRENT BUSINESS
of gross national product (GNP)—the market value of
the Nation's output of goods and services—in current and
constant dollars, GNP price measures, the goods and services that make up GNP in current and constant dollars,
national income, personal income, and corporate profits.
In addition, BEA produces specialized measures such
as estimates of auto and truck output, gross domestic
product of corporate business, housing output, and business inventories and sales. Measures of the inventory
and fixed capital stocks consistent with the NIPA output measures are also provided. Further, the accounts
provide a consistent framework within which estimates
of special interest—such as expenditures to protect the
environment—are prepared. (Information about the environmental estimates is provided in program description 12.0.)
The estimates of GNP are prepared each quarter in
the following sequence: Advance estimates are released
in the first month after the end of the quarter, and, as
more detailed and comprehensive data become available,
preliminary and final estimates are released in the second and third months, respectively. Estimates of personal income and outlays are prepared each month. The
NIPA's are also revised in each of the following 3 years,
usually in July, and in comprehensive (benchmark) revisions, usually every 5 years (most recently in 1985).
Current quarterly and monthly estimates are reported
in the SURVEY OF CURRENT BUSINESS; quarterly NIPA estimates appear in a set of 54 "selected" tables, and monthly
personal income and outlays estimates are reported in
the S-pages (or blue pages). The full set of annual revisions (132 tables) usually is reported in the July issue.
Annual estimates of the fixed capital stock are reported
in the August issue.
In addition to the current and historical estimates described in the entries that follow, a considerable amount
of component detail (for example, purchases of private
structures by type) and industry detail (for example,
change in business inventories by industry) is available.
For further information about this detail or about the
listed computer tapes, printouts, and diskettes, write to
the National Income and Wealth Division, BE-54, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230, or call (202) 523-0669.
For specific questions, the following telephone numbers
may be used:
41
ence no. 1.2). Printed reports are mailed the day after
estimates are released. (This set of reports is included
in the five sets of BEA Reports; see reference no. 1.3.)
The gross national product printed reports are available
from ESA/BEA on a subscription basis: Accession No.
BEA-15-S, price $24.00 per year.
2.2 BEA Reports: Personal Income and Outlays
(EBB, news release). Monthly reports with summary
NIPA estimates that feature personal income and outlays. Reports are available online through the EBB (see
reference no. 1.2). Printed reports are mailed the day
after estimates are released. (This set of reports is included in the five sets of BEA Reports; see reference no.
1.3.) The personal income and outlays printed reports
are available from ESA/BEA on a subscription basis: Accession No. BEA-14-S, price $24.00 per year.
2.3 Monthly Advance National Income and Product Accounts Tables (EBB, diskette, or printout). NIPA
estimates as they appear in the current issue of the
SURVEY OF CURRENT BUSINESS. Updated monthly. Available
online through the EBB (see reference no. 1.2). Diskettes
and printouts are available 1 day after the release of
GNP and are available from ESA/BEA on a subscription
basis:
Diskette—Accession No. BEA NIW 85-401, price
$200.00 per year.
Printout—Accession No. BEA NIW 83-201, price
$100.00 per year.
2.4 Key Source Data and Assumptions (EBB,
printed table). Available source data and assumptions
for missing source data that are used to prepare the advance estimates of GNP. Available in January, April,
July, and October. Available online through the EBB
(see reference no. 1.2). Annual subscriptions for the
printed table begin in January and are available from
ESA/BEA: Accession No. BEA NIW 84-209, price $25.00
per year.
A recorded telephone message summarizing the latest
GNP estimates is available by calling (202) 898-2451 (see
reference no. 1.1). A recorded message summarizing the
latest personal income and outlays estimates is available
at (202) 898-2452.
Historical estimates:
2.5 National Income and Product Accounts
(diskette). Most NIPA tables with estimates from 1929
to the present. Available from ESA/BEA: Accession No.
BEA NIW 89-401, price $100.00 (5 diskettes). (Diskettes
can be ordered individually; for information, write or call
the National Income and Wealth Division.)
2.6 National Income and Product Accounts (computer tape). The full set of NIPA tables with estimates
from 1929 to the present. Available from ESA/BEA: Accession No. BEA NIW 83-001, price $100.00.
2.7 The National Income and Product Accounts of
the United States, 1929-82: Statistical Tables (publication). The full set of NIPA tables. Also includes a
selected bibliography and the definitions and classifications underlying the NIPA's. (1986) Available from GPO:
Stock No. 003-010-00174-7, price $23.00.
Current estimates:
2.1 BEA Reports: Gross National Product (EBB,
news release). Monthly reports with summary NIPA
estimates that feature GNP and corporate profits. Reports are available online through the EBB (see refer-
Recent information related to the NIPA's:
2.8 Index of Items Appearing in the National Income and Product Accounts Tables (publication). An
index to the NIPA tables with listings by general subject
area as well as by detailed series. Appeared in July 1987
GNP
Personal income and outlays
Corporate profits .
Personal consumption expenditures
Gross private domestic investment . . . . . .
GNP by industry
(202) 523-0824
-0832
-0888
-0819
-0791
-0795
42
SURVEY OF CURRENT BUSINESS
SURVEY OF CURRENT BUSINESS. (1987) Available from GPO:
Stock No. 003-010-00180-1, price $1.25.
2.9 National Income and Product Accounts Estimates: When They Are Released, Where They Are
Available, How They Are Presented (reprint). A guide
to assist users in locating NIPA estimates and to explain some of the conventions used in their presentation.
Appeared in January 1988 SURVEY OF CURRENT BUSINESS.
(1988) Available upon request from the National Income
and Wealth Division.
February 1990
items over the last decade that provided methodological information about GNP. Appeared in July 1987
SURVEY OF CURRENT BUSINESS. (1987) Available from
GPO: Stock No. 003-010-00179-8, price $2.00.
2.14 Government Transactions (NIPA Methodology Paper No. 5). Presents the conceptual basis
and framework of government transactions in the
national income and product accounts, describes
the presentation of the estimates, and details the
sources and methods used to prepare estimates of
Federal transactions and of State and local transacMethodology Papers (publications). A series of pations. (1988) Available from GPO: Stock No. 003pers that documents the conceptual framework of the
010-00187-9, price $5.50.
NIPA's and the methodology used to prepare the esti2.15
Evaluation of the GNP Estimates (reprint). An
mates. To date, five papers are available. (Papers on
evaluation
of the GNP estimates, covering the reliabilpersonal consumption expenditures and gross private ity of estimates,
sources of error and types of statistical
fixed domestic investment will be completed next. Their improvement, status
of source data, documentation of
availability will be announced in the SURVEY OF CURRENT methodology, release schedules,
and security before reBUSINESS.)
lease. This article appeared in the August 1987 SURVEY
2.10 An Introduction to National Economic Ac- OF CURRENT BUSINESS. (1987) Available from ESA/BEA:
counting (NIPA Methodology Paper No. 1). An in- Accession No. BEA CBA 88-101, price $5.00.
troduction to the concepts of the U.S. NIPA's that
2.16 The Use of National Income and Product Acplaces these accounts within the larger framework
of national economic accounting. Shows the step- counts for Public Policy: Our Successes and Failures
by-step derivation of a general national economic (BEA Staff Paper No. 43). An evaluation using two indiaccounting system from the conventional account- rect approaches. The first reviews the "accuracy" of the
ing statements used by business and government estimates, using the size of revisions to GNP estimates
and inferred for other transactors. Also shows how as an indicator. The second reviews users' recommenthe income and product accounts, the capital finance dations drawn from publications issued over the last 30
accounts, and the input-output accounts—the ma- years. (1985) Available from ESA/BEA: Accession No.
jor branches of national economic accounting in the BEA CBA 86-101, price $1.25.
United States today—are derived from this general
2.17 The Underground Economy: An Introduction
system. Also appeared in March 1985 SURVEY OF (reprint). A discussion of the coverage, measurement
CURRENT BUSINESS. (1985) Available from GPO: Stock methods, and implications of the underground economy.
No. 003-010-00158-5, price $1.25.
Part of the discussion features the relation between the
NIPA's
and the underground economy—illegal activities
2.11 Corporate Profits: Profits Before Tax, Profits
Tax Liability, and Dividends (NIPA Methodology in the context of the NIPA's, three sets of NIPA estimates
Paper No. 2). A description of the concepts, sources, sometimes misunderstood as being measures of the unand methods of the corporate profits components of derground economy, and the effect on NIPA estimates
the NIPA's. (1985) Available from GPO: Stock No. of possible misreporting in source data due to the underground economy. Article appeared in the May 1984
003-010-00143-7, price $2.50.
and July 1984 issues of the SURVEY OF CURRENT BUSINESS.
2.12 Foreign Transactions (NIPA Methodology Pa- (1984) This reprint contains both items 2.17 and 2.18.
per No. 3). A description of the preparation of es- Available from ESA/BEA: Accession No. BEA CBA 84timates in the NIPA's of net exports (both current- 101, price $5.00.
and constant-dollar), transfer payments to foreign2.18 Improved Adjustments for Misreporting of
ers, capital grants received by the United States,
interest paid by Government to foreigners, and net Tax Return Information Used to Estimate the Naforeign investment. Also describes the relation- tional Income and Product Accounts, 1977 (reprint).
ship between foreign transactions estimates in the A description of the use of tax return information in
NIPA's and those in the balance of payments ac- the NIPA's and the methodology used to prepare the imcounts. (1987) Available from GPO: Stock No. 003- proved adjustments that were subsequently incorporated
in the 1985 comprehensive revision. Article appeared in
010-00178-0, price $2.75.
2.13 GNP: An Overview of Source Data and Esti- the June 1984 SURVEY OF CURRENT BUSINESS. (1984) This
mating Methods (NIPA Methodology Paper No. 4). reprint contains both items 2.17 and 2.18. Available from
Basic information about GNP, including the concep- ESA/BEA: Accession No. BEA CBA 84-101, price $5.00.
tual basis for the account that presents GNP, def2.19 Wealth (computer tape). Annual estimates
initions of each of the components on the income through 1989 of gross and net stocks, depreciation, and
and product sides of that account, and a summary, discards for fixed nonresidential private and residential
presented in tabular form, of the source data and capital, durable goods owned by consumers, and fixed
methods used in preparing estimates of current- and capital owned by governments. For fixed private capiconstant-dollar GNP. Also provides an annotated tal, contains estimates by each NIPA type of equipment
bibliography, with a directory, of the more than 50 and structures starting in 1925. For fixed private cap-
February 1990
SURVEY OF CURRENT BUSINESS
43
ital, also contains estimates of total equipment, total for measuring energy production and consumption and
structures, and the total of equipment and structures describes the methodology of the new accounts. Pulls toowned by each two-digit SIC establishment-based indus- gether energy data from a wide variety of sources and ortry starting in 1947. For durable goods owned by con- ganizes the data in the framework of the national income
sumers, contains estimates by each NIPA type of goods and product accounts. (1987) Available from ESA/BEA:
starting in 1925. For fixed capital owned by govern- Accession No. BEA CBA 87-101, price $10.00.
ments, contains estimates by each NIPA type of equipment and structures, separately for the Federal Govern- Government transactions
ment and for State and local governments, starting in
3.0 BEA's estimates of government receipts, expendi1925. The estimates are in historical-cost, constant-cost,
and current-cost valuations. Also includes stock series tures, and surplus or deficit are on a national income and
similar to those used by the Bureau of Labor Statistics product accounting basis. The estimates are prepared
to derive measures of capital input for multifactor pro- separately for Federal and for State and local governductivity studies. The investment series through 1989 ments on the same schedule as described for the NIPA's.
used to derive all of these estimates are also included, in Reconciliations of the Federal sector on a NIPA basis and
the same detail as the stock estimates, in historical-cost the unified budget prepared by the Office of Management
and constant-cost valuations. Updated annually. Avail- and Budget are the basis for an article in the SURVEY OF
able from ESA/BEA: Accession No. BEA NIW 89-001, CURRENT BUSINESS, usually in February, about Federal
fiscal programs for the next fiscal year and for detailed
price $100.00.
tables in the July issue. These reconciliations, and more
2.20 Detailed Investment by Industry (computer specialized work such as described in the papers that foltape). Annual estimates through 1989 of investment low, facilitate analysis of the effects of government fiscal
owned by each two-digit SIC establishment-based indus- policies on the economy. An article on the fiscal positry, separately for each detailed NIPA type of equipment tion of State and local governments is usually published
and structures. (The Wealth tape in item 2.19 also in- in February. For further information, write to the Govcludes investment series for each industry, but only for ernment Division, BE-57, Bureau of Economic Analysis,
total equipment, total structures, and the total of equip- U.S. Department of Commerce, Washington, DC 20230,
ment and structures.) The estimates are in historical- or call (202) 523-0715. For specific questions, the followcost and constant-cost valuations. Updated annually.
numbers may be used:
Available from ESA/BEA: Accession No. BEA NIW 89- ing telephone
Federal
.,.
(202) 523-0744
002, price $100.00.
State and local
-0725
National defense
-5017
2.21 Detailed Wealth by Industry (computer tape).
Annual estimates through 1989 of gross and net stocks,
3.1 Government Transactions (NIPA Methodology
depreciation, and discards for fixed nonresidential pri- Paper No. 5). Presents the conceptual basis and framevate capital owned by each two-digit establishment- work of government transactions in the national income
based SIC industry, separately for each detailed NIPA and product accounts, describes the presentation of the
type of equipment and structures. (The Wealth tape in estimates, and details the sources and methods used to
item 2.19 also includes estimates of gross and net stocks, prepare estimates of Federal transactions and of State
depreciation, and discards for each industry, but only for and local transactions. (1988) Available from GPO: Stock
total equipment, total structures, and the total of equip- No. 003-010-00187-9, price $5.50.
ment and structures.) Also includes stock series simi3.2 Cyclical Adjustment of the Federal Budget and
lar to those used by the Bureau of Labor Statistics to Federal Debt: Updated Detailed Methodology and Esderive measures of capital input for multifactor produc- timates (BEA Staff Paper No. 45). Description of the
tivity studies. The estimates are in constant-cost and models that BEA uses to estimate the cyclically adcurrent-cost valuations. Updated annually. Available justed Federal budget and inflation-induced changes in
from ESA/BEA: Accession No. BEA NIW 89-003, price the cyclically adjusted budget. The quarterly data for
$100.00.
the variables in the models and the regression equations
2.22 Fixed Reproducible Tangible Wealth in the underlying the coefficients are presented. The paper also
United States, 1925-85 (publication). Annual estimates discusses the cyclical adjustment of Federal debt and
of the stock of privately owned and government-owned shows some results. (1986) Available from NTIS: Accesdurable equipment and structures and of durable goods sion No. PB87-157376, price $23.00 (paper copy), $8.00
owned by consumers for 1925-85. Estimates are for fixed (microfiche).
nonresidential private capital by major industry group
(farm, manufacturing, and nonfarm nonmanufacturing), Input-output accounts
for residential capital by tenure group (owner-occupied
and tenant-occupied), for government-owned fixed capi4.0 Input-output accounts for the United States show
tal by type of government (Federal, and State and local), how industries interact—providing input to, and taking
and for 11 types of durable goods owned by consumers. output from, each other—to produce the GNP. Bench(1987) Available from GPO: Stock No. 003-010-00177-1, mark tables, based largely on the economic censuses, are
price $18.00.
prepared every 5 years; the latest benchmark table is
2.23 Dollar Measures of Energy Production and for 1977, and the next (which will be available in midConsumption in the United States, 1972-82 (BEA 1990) will be for 1982. Annual tables are prepared usWorking Paper No. 5). Presents a new set of accounts ing basically the same procedures as used for the bench-
44
SURVEY OF CURRENT BUSINESS
mark tables, but with less comprehensive and less reliable source data. Associated tables showing capital flows
from producing to using industries and employment and
employee compensation by industry are also prepared.
The computer tapes, diskettes, and printouts listed below
are for the tables at the 85-industry level; more detailed
tables are also available. For further information about
this detail or about the listed computer tapes, diskettes,
and printouts, write to the Interindustry Economics Division, BE-51, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230, or call (202)
523-0792. For specific questions, the following telephone
numbers may be used:
Benchmark tables
Annual tables
Methodology
Computer tapes, diskettes, and printouts .
(202) 523-0683
-0867
-0683
-0792
4.1 Annual 85-Industry Input-Output Tables
Based on the 1977 Benchmark Input-Output Study:
1985 Summary Input-Output Tables (computer tape,
diskette, and printout). Five tables: (1) Use table, (2)
make table, (3) commodity-by-commodity direct requirements table, (4) commodity-by-commodity total requirements table, and (5) industry-by-commodity total requirements table. Available from ESA/BEA:
Computer tape—Accession No. BEAIED 90-001, price
$100.00.
Diskette—Accession No. BEA IED 90-401, price $40.00
(two diskettes). (Diskettes can be ordered separately
for $20.00: please specify diskette A for tables 1, 2,
and 3 or diskette B for tables 4 and 5.)
Printout—Accession No. BEA IED 90-201, price
$55.00.
4.2 Annual 85-Industry Input-Output Tables
Based on the 1977 Benchmark Input-Output Study:
1984 Summary Input-Output Tables (computer tape,
diskette, and printout). Five tables: (1) Use table, (2)
make table, (3) commodity-by-commodity direct requirements table, (4) commodity-by-commodity total requirements table, and (5) industry-by-commodity total requirements table. Available from ESA/BEA:
Computer tape—Accession No. BEA IED 89-002, price
$100.00.
Diskette—Accession No. BEA IED 89-402, price $40.00
(two diskettes). (Diskettes can be ordered separately
for $20.00: please specify diskette A for tables 1, 2,
and 3 or diskette B for tables 4 and 5.)
Printout—Accession No. BEA IED 89-202, price
$55.00.
4.3 Annual 85-Industry Input-Output Tables
Based on the 1977 Benchmark Input-Output Study:
1983 Summary Input-Output Tables (computer tape,
diskette, and printout). Five tables: (1) Use table, (2)
make table, (3) commodity-by-industry direct requirements table, (4) commodity-by-commodity total requirements table, and (5) industry-by-commodity total requirements table. Available from ESA/BEA:
Computer tape—Accession No. BEA IED 89-001, price
$100.00.
Diskette—Accession No. BEA IED 89-401, price $40.00
(two diskettes). (Diskettes can be ordered separately
February 1990
for $20.00: please specify diskette A for tables 1, 2,
and 3, or diskette B for tables 4 and 5.)
Printout—Accession No. BEA IED 89-201, price
$55.00.
4.4 Annual 85-Industry Input-Output Tables
Based on the 1977 Benchmark Input-Output Study:
1982 Summary Input-Output Tables (computer tape,
diskette, and printout). Five tables: (1) Use table, (2)
make table, (3) commodity-by-industry direct requirements table, (4) commodity-by-commodity total requirements table, and (5) industry-by-commodity total requirements table. Available from ESA/BEA:
Computer tape—Accession No. BEA IED 88-001, price
$100.00.
Diskette—Accession No. BEA IED 88-401, price $40.00
(two diskettes). (Diskettes can be ordered separately
for $20.00: please specify diskette A for tables 1, 2,
and 3 or diskette B for tables 4 and 5.)
Printout—Accession No. BEA IED 88-201, price
$55.00.
4.5 Annual 85-Industry Input-Output Tables
Based on the 1977 Benchmark Input-Output Study:
1981 Summary Input-Output Tables (computer tape,
diskette, and printout). Five tables: (1) Use table, (2)
make table, (3) commodity-by-industry direct requirements table, (4) commodity-by-commodity total requirements table, and (5) industry-by-commodity total requirements table. Available from ESA/BEA:
Computer tope—Accession No. BEA IED 87-003, price
$100.00.
Diskette—Accession No. BEA IED 87-409, price $40.00
(two diskettes). (Diskettes can be ordered separately
for $20.00: please specify diskette A for tables 1, 2,
and 3 or diskette B for tables 4 and 5.)
Printout—Accession No. BEA IED 87-218, price
$55.00.
4.6 Annual 85-Industry Input-Output Tables
Based on the 1977 Benchmark Input-Output Study:
1980 (Revised) Summary Input-Output Tables (computer tape, diskette, and printout). Five tables: (1) Use
table, (2) make table, (3) commodity-by-industry direct
requirements table, (4) commodity-by-commodity total
requirements table, and (5) industry-by-commodity total
requirements table. Available from ESA/BEA:
Computer tape—Accession No. BEA IED 87-002, price
$100.00.
Diskette—Accession No. BEA IED 87-406, price $40.00
(two diskettes). (Diskettes can be ordered separately
for $20.00: please specify diskette A for tables 1, 2,
and 3 or diskette B for tables 4 and 5.)
Printout—Accession No. BEA IED 87-212, price
$55.00.
4.7 The Input-Output Structure of the U.S. Economy, 1977 (reprint). An explanation of the concepts,
conventions, definitions, and uses of the 1977 inputoutput tables. Includes the input-output tables at the
85-industry level as published in the May 1984 SURVEY
OF CURRENT BUSINESS; the tables have since been revised
(see the next item). Also includes an extensive bibliography of BEA publications relating to input-output. (1984)
Available from ESA/BEA: Accession No. BEA IED 84101, price $5.00.
4.8 1977 (Revised) 85-Industry Input-Output Tables (computer tape, diskette, and printout). Five tables:
(1) Use table, (2) make table, (3) commodity-by-industry
direct requirements table, (4) commodity-by-commodity
total requirements table, and (5) industry-by-commodity
total requirements table. The revised input-output tables reflect the statistical changes and the changes in definition and classification incorporated in the 1985 comprehensive revision of the national income and product
accounts. Available from ESA/BEA:
Computer tape—Accession No. BEA IED 87-001, price
$100.00.
Diskette—Accession No. BEA IED 87-403, price $40.00
(two diskettes). (Diskettes can be ordered separately
for $20.00: please specify diskette A for tables 1, 2,
and 3 or diskette B for tables 4 and 5.)
Printout—Accession No. BEA IED 87-206, price
$55.00.
Regional Economics
BEA's regional economics program provides estimates,
analyses, and projections by region, State, metropolitan
statistical area, and county.
5.1 BEA Reports: Regional Reports (EBB, news release). Reports (usually six a year) with summary estimates of State personal income (quarterly and annual)
and of county and metropolitan area personal income
(annual). Reports are available online through the EBB
(see reference no. 1.2). (The EBB carries, in addition
to the news release, estimates of personal income and
wages by State and by industry.) Printed reports are
mailed the day after estimates are released. (This set of
reports is included in the five sets of BEA Reports', see
reference no. 1.3.) These printed reports are available
from ESA/BEA on a subscription basis: Accession No.
BEA-17-S, price $12.00 per year.
Regional estimates
6.0 Current quarterly State personal income estimates are reported in the January, April, July, and October issues of the SURVEY OF CURRENT BUSINESS. The annual
estimates of State and local area personal income for a
given year are subject to successive refinement. Preliminary annual State estimates, based on the current
quarterly series, are released 4 months after the close
of the reference year and published in the April SURVEY
OF CURRENT BUSINESS. Revised annual estimates based on
more reliable source data are published in the August
SURVEY. These estimates are subsequently revised to incorporate newly available information used to prepare
the current local area estimates. The revised State estimates, together with the current local area estimates,
are published in the following April SURVEY. The annual
estimates emerging from this process are subject to further revision for several succeeding years (the State estimates in April and August and the local area estimates
45
SURVEY OF CURRENT BUSINESS
February 1990
in April), as additional data become available. The routine revisions of the State estimates for a given year are
normally completed with the fourth April release. After that, the estimates will be changed only to incorporate a comprehensive revision in the national income and
product accounts-which takes place approximately every
5 years-or to make important improvements to the estimates through the use of additional or more current
State and local area data.
Through the Regional Economic Information System,
the following data sets are available: Quarterly and annual State personal income and wage and salary disbursements; annual State disposable personal income
and personal tax and nontax payments; annual State
full- and part-time wage and salary employment; annual
State and county personal income, transfer payments,
and farm income and expenses; and annual State and
county full- and part-time total employment. The system
includes an information retrieval service that provides a
variety of analytical tabulations for counties and specified combinations of counties. All of the tabulations are
available in several media.
BEA also makes its regional estimates available
through the BEA User Group, members of which include State agencies, universities, and Census Bureau
Primary State Data Centers. BEA provides its estimates
of income and employment for all States and counties
to these organizations with the understanding that they
will make the estimates readily available.
For further information, write to the Regional Economic Measurement Division, BE-55, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230, or call (202) 523-0966. For specific
questions, the following telephone numbers may be used:
Quarterly State personal income
Wage and salary income and employment
Proprietors' income and employment
(202) 523-0911
-0945
-0937
6.1 Local Area Personal Income, 1982-87 (publication). An annual publication that presents personal income by major type of payment and earnings by major industry, population, and total and per capita personal income for States, counties, and metropolitan areas. (Estimates are available from BEA on computer
tape, diskette, and printout.) (1989) Publication available from GPO.
Volume 1.
Summary: Regions, States, and
Metropolitan Areas. Estimates for the United
States, regions, States, and metropolitan areas. Also
contains county definitions of metropolitan areas,
a detailed description of sources and methods, and
samples of tables available. GPO Stock No. 003010-00192-5, price $14.00.
Each of the following volumes provides a methodology
and estimates for the listed States and their counties
and metropolitan areas.
Volume 2. New England, Mideast, and Great
Lakes Regions. (Connecticut, Delaware, District of
Columbia, Illinois, Indiana, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island,
Vermont, and Wisconsin) GPO Stock No. 003-01000193-3, price $15.00.
46
SURVEY OF CURRENT BUSINESS
Volume 3. Plains Region. (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and
South Dakota) GPO Stock No. 003-010-00194-1,
price $11.00.
Volume 4. Southeast Region. (Alabama, Arkansas,
Florida, Georgia, Kentucky, Louisiana, Mississippi,
North Carolina, South Carolina, Tennessee, Virginia, and West Virginia) GPO Stock No. 003-01000195-0, price $17.00.
Volume 5. Southwest, Rocky Mountain, and Far
West Regions and Alaska and Hawaii. (Alaska,
Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oklahoma, Oregon,
Texas, Utah, Washington, and Wyoming) GPO Stock
No. 003-010-00196-8, price $15.00.
6.2 State Personal Income: 1929-87 (publication).
Estimates of annual personal income and disposable personal income, total and per capita, for 1929-87 and
1948-87, respectively; annual personal income by major
type of payment and earnings by industry for 1929-87;
and quarterly total personal income for 1969-88. The
estimates are for each State, eight BEA regions, and the
United States. A comprehensive statement of sources
and methods used for estimating State personal income
is provided. (1989) Available from GPO: Stock No. 003010-00197-6, price $16.00.
Regional analyses and projections
7.0 BEA prepares analyses to identify and measure
factors that determine area differences in total and per
capita income and in industry employment and output. Long-term projections of personal income, employment, and earnings by industry are prepared every 5
years for all States and metropolitan areas and for selected States and areas in other years. BEA maintains
mid-term regional econometric models to forecast annual
changes in economic activity and to analyze the impacts
of projects and programs. In conjunction with the projections work, BEA has developed estimates of gross state
product. These estimates, prepared by industry, supplement the estimates of personal income described in program description 6.0. For further information, write to
the Regional Economic Analysis Division, BE-61, Bureau
of Economic Analysis, U.S. Department of Commerce,
Washington, DC 20230, or call (202) 523-0946. For specific questions, the following telephone numbers may be
used:
February 1990
allowances; indirect business tax and nontax liability;
and other, mainly capital-related, charges. The estimates are for the 50 States, nine BEA regions, and
the United States and for 61 industries. Estimates are
in current and constant dollars. These estimates were
originally published in the May 1988 SURVEY OF CURRENT
BUSINESS, with errata on page 37 of the October 1988
SURVEY. (1988) Available from ESA/BEA:
Computer tape—Accession No. BEA REA 88-401, price
$100.00.
Diskettes—A diskette for a region contains estimates
for the United States, the BEA region, and each
State of the region. (The Southeast region, on two
diskettes, costs $40.00.)
Area
New England
Mideast
Great Lakes
Plains
Southeast (AL-LA)
Southeast (MS-WV)
Southwest
Rocky Mountain
Far West (plus AK
and HI)
Accession No.
BEA REA 88-402
BEA REA 88-403
BEA REA 88-404
BEA REA 88-405
BEA REA 88-406
BEA REA 88-407
BEA REA 88-408
BEA REA 88-409
Price
$20.00
$20.00
$20.00
$20.00
$20.00
$20.00
$20.00
$20.00
BEA REA 88-410
$20.00
7.2 Experimental Estimates of Gross State Product by Industry (BEA Staff Paper No. 42). A description of the issues and methodology for preparing estimates of gross state product—the State equivalent of
GDP. The estimates are consistent with BEA's State personal income and with GNP by industry. Estimates for
1963, 1967, 1972, and 1977 are presented. (These estimates were superseded; see item description 7.1.) (1985)
Available from NTIS: Accession No. PB85-240885, price
$23.00 (paper copy), $8.00 (microfiche).
7.3 Regional Multipliers: A User Handbook for
the Regional Input-Output Modeling System (RIMS
II) (publication). An explanation of how to use regional
input-output multipliers, by industry, for output, earnings, and employment. Includes information on how to
perform systematic analyses of the regional economic impacts of projects and programs. Also contains multipliers for all States from RIMS II, sample tables of inputoutput multipliers, and hypothetical case studies. (1986)
Available from NTIS: Accession No. PB86-230216, price
$23.00 (paper copy), $8.00 (microfiche).
7.1 Gross State Product, Annual Estimates, 196386 l (computer tape, diskette). These estimates are the
counterpart of gross domestic product and provide the
most comprehensive measure of State production now
available. Gross state product is measured in current
dollars as the sum of four components for each industry:
Compensation of employees; proprietors' income with inventory valuation adjustment and capital consumption
7.4 1985 OBERS BEA Regional Projections 2 (two
volumes). Estimates for 1969,1973,1978, and 1983, and
projections for 1990, 1995, 2000, 2005, 2015, and 2035
for total personal income, population, per capita personal
income, and employment and earnings by industry for
the United States, States, and metropolitan statistical
areas. (1985)
Volume 1. State Projections to 2035. Available from
NTIS: Accession No. PB86-124526, price $23.00 (paper copy), $8.00 (microfiche).
Volume 2. Metropolitan Statistical Area Projections to 2035. Available from GPO: Stock No. 003010-00159-3, price $12.00.
1. Gross state product estimates for 1987 and 1988 will be published in the
summer of 1990.
2. Updated long-term projections will be published in the summer of 1990.
Long-term regional projections
Mid-term regional projections
Regional input-output multipliers
Gross state product by industry
(202) 523-0971
-9212
-9213
-9180
SURVEY OF CURRENT BUSINESS
February 1990
International Economics
BEA's international economics program encompasses
the international transactions accounts (balance of payments) and the direct investment estimates. The international transactions accounts, which measure U.S.
transactions with foreign countries, include merchandise
trade, trade in services, the current-account balance, and
capital transactions. The direct investment estimates
cover estimates of U.S. direct investment abroad and foreign direct investment in the United States, income and
other flows associated with these investments, and other
aspects of the operations of multinational enterprises.
8.1 BEA Reports: International Reports (EBB,
news release). Reports (usually 13 a year) with summary estimates of merchandise trade, balance of payments basis (quarterly); summary of international transactions (quarterly); international investment position
(annual); capital spending by majority-owned foreign affiliates (semiannual); direct investment (annual); and related topics. Reports are available online through the
EBB (see reference no. 1.2). Printed reports are mailed
the day after estimates are released. (This set of reports
is included in the five sets of BEA Reports; see reference no. 1.3.) These printed reports are available from
ESA/BEA on a subscription basis: Accession No. BEA18-S, price $26.00 per year.
U.S. international transactions
9.0 The international transactions accounts provide
a detailed and comprehensive view of economic transactions between the United States and foreign countries.
The accounts include estimates of merchandise exports
and imports; travel, transportation, and other services;
foreign aid; and private and official capital flows, including direct investment. (Information about direct investment and international services is provided in program description 10.0.) Current estimates, including estimates of merchandise trade on a balance of payments
basis, are reported in the March, June, September, and
December issues of the SURVEY OF CURRENT BUSINESS. Estimates include detail for the current and capital accounts,
classified by type of transaction and by area. Each June,
these estimates are revised back 4 years.
Estimates of the international investment position of
the United States appear in June. International travel
estimates usually appear in May or June. For further
information, write to the Balance of Payments Division,
BE-58, Bureau of Economic Analysis, U.S. Department
of Commerce, Washington, DC 20230, or call (202) 5230620. For specific questions, the following telephone
numbers may be used:
Current-account analysis
Current-account estimates
Merchandise trade
Capital-account transactions
Government transactions
(202) 523-0621
-0625
-0668
-0603
-0615
A recorded telephone message summarizing key estimates of merchandise trade or U.S. international transactions, whichever is the most recent release, is available
at (202) 898-2453 (see reference no. 1.1).
47
9.1 U.So Merchandise Trade Data (printout,
diskette). Seasonally adjusted and unadjusted exports
and imports for the end-use categories used by BEA to
derive trade totals on a Census basis. Series begin in
1979. Updated monthly or quarterly. Available from
ESA/BEA on a subscription basis:
U.S. Merchandise Trade Data, Monthly.
Printout—Accession No. BEA BPD 86-201, price
$100.00 per year.
Diskette—Accession No. BEA BPD 86-401, price
$200.00 per year.
U.S. Merchandise Trade Data, Quarterly. Also includes, on a balance of payments basis, exports of
agricultural products, nonagricultural products, and
nonmonetary gold, and imports of petroleum and
products, nonpetroleum products, and nonmonetary
gold.
Printout—Accession No. BEA BPD 86-202, price
$40.00 per year.
Diskette—Accession No. BEA BPD 86-402, price
$80.00 per year.
9.2 U.S. Merchandise Trade: Exports and Imports by End-Use Category, Monthly (computer tape).
Monthly end-use detail (not seasonally adjusted) on a
Census basis for exports and imports for 70 countries and
areas. Series begin in 1978. Updated monthly. Available
from ESA/BEA:
U.S. Merchandise Exports, Monthly. Accession No.
BEA BPD 86-001, price $100.00.
U.S. Merchandise Imports, Monthly. Accession No.
BEA BPD 86-002, price $100.00.
9.3 U.S. Merchandise Trades Exports and Imports by End-Use Category, Quarterly (computer tape).
Quarterly end-use detail (not seasonally adjusted) on a
Census basis for exports and imports for 70 countries
and areas. Series begin in 1978. Updated quarterly.
Available from ESA/BEA:
U.S. Merchandise Exports, Quarterly. Accession No.
BEA BPD 86-003, price $100.00.
U.S. Merchandise Imports, Quarterly. Accession No.
BEA BPD 86-004, price $100.00.
9.4 U.S. Merchandise Trade; Exports and Imports
by End-Use Category, Annually (computer tape, printout). Annual end-use detail on a Census basis for exports
and imports for 70 countries and areas. Series begin in
1978. Updated annually. Available from ESA/BEA:
U.S. Merchandise Exports, Annually.
Computer tape—Accession No. BEA BPD 86-005,
price $100.00
Printout—Accession No. BEA BPD 86-103, price
$55.00
U.S. Merchandise Imports, Annually.
Computer tape—Accession No. BEA BPD 86-006,
price $100.00
Printout—Accession No. BEA BPD 86-104, price
$55.00
9.5 Status Report on Statistical and Methodological Improvements in the U.S. Balance of Payments
Statistics (BEA Working Paper No. 6). Reviews major
problems, such as timing and coverage, in the balance
of payments accounts; describes statistical and method-
48
SURVEY OF CURRENT BUSINESS
February 1990
ological improvements BEA has undertaken to resolve
some of the problems; and discusses projects for future
improvements. (1988) Available from ESA/BEA: Accession No. BEA OD 88-001, price $5.00.
NOTE.—For a discussion of the relationship between foreign transactions estimates in the balance of payments
accounts and those in the national income and product
accounts, see reference no. 2.12.
or call (202) 523-0659. For specific questions, the following telephone numbers may be used:
Direct investment and international services
10.1 Foreign Direct Investment in the United
States: Operations of U.S. Affiliates of Foreign Companies (publication, diskette). The results of BEA's annual survey of foreign direct investment in the United
States. Contains information on the financial structure
and operations of nonbank U.S. affiliates of foreign direct investors. Data are classified by industry of U.S.
affiliate, by country and industry of ultimate beneficial
owner, and, for selected data, by State. Updated annually.
Foreign Direct Investment in the United States:
Operations of U.S. Affiliates of Foreign Companies, Revised 1986 Estimates. (1989)
Publication—Available from GPO: Stock No. 003010-00190-9, price $3.25.
Diskette—Available from ESA/BEA: Accession No.
BEA IID 89-401, price $20.00.
NOTE: The annual survey publication for 1987 has been
replaced by the publication for the 1987 benchmark survey of foreign direct investment in the United States.
(See reference no. 10.4.)
10.2 Foreign Direct Investment in the United
States: Direct Investment Position and Related Capital and Income Flows, 1980-88 (computer tape). Annual estimates of the foreign direct investment position
in the United States and selected capital and income
flows between U.S. affiliates and their foreign parent
companies. Estimates are for 32 countries by 16 industries. Available from ESA/BEA: Accession No. BEA IID
80-002, price $100.00.
10.3 Foreign Direct Investment in the United
States, 1980 (publication). The results of BEA's 1980
benchmark survey of foreign direct investment in the
United States. Contains information on the financial
structure and operations of the U.S. affiliates of foreign
direct investors in 1980. Data are classified by industry
of U.S. affiliate, by country and industry of foreign parent or ultimate beneficial owner, and, for selected data,
by State. Also contains a complete methodology for foreign direct investment in the United States and copies of
the survey forms and instructions. (1983) Available from
ESA/BEA: Accession No. BEA IID 83-101, price $10.00.
10.4 Foreign Direct Investment in the United
States, 1987 Benchmark Survey, Preliminary Results
(publication, diskette). The preliminary results of BEA's
1987 benchmark survey of foreign direct investment in
the United States. (Final results will be available in the
summer of 1990.) Contains information on the financial
structure and operations of the nonbank U.S. affiliates
of foreign direct investors in 1987. Data are classified
by industry of U.S. affiliate, by country and industry of
foreign parent or ultimate beneficial owner, and, for selected data, by industry of sales and by State. (1989)
10.0 BEA conducts quarterly, annual, and benchmark surveys of U.S. direct investment abroad and of foreign direct investment in the United States. The information collected relates to the direct investment position
and flows of capital, income, royalties and license fees,
and other service charges between parent companies and
affiliates; capital expenditures by majority-owned foreign
affiliates of U.S. companies; the financial structure and
operations of U.S. parent companies and their foreign
affiliates; the financial structure and operations of U.S.
affiliates of foreign companies; and U.S. business enterprises acquired or established by foreign direct investors.
The information on the annual and quarterly surveys
usually appears in the SURVEY OF CURRENT BUSINESS on
the following schedule:
Foreign direct investment in the United States:
• The position and balance of paymentsflows,in June,
with additional detail in August.
9 Operations of U.S. affiliates of foreign companies, in
May (July for 1989 and 1990 issues).
9 U.S. business enterprises acquired or established by
foreign direct investors, in May.
U.S. direct investment abroad:
9 The position and balance of payments flows, in June,
with additional detail in August.
• Operations of U.S. parent companies and their foreign affiliates, in June.
© Capital expenditures by majority-owned foreign affiliates of U.S. companies, in March and September.
BEA is expanding and improving the information it
provides on U.S. international trade and investment in
services. (For a description of the major elements of this
program, see part I of "U.S. Sales of Services to Foreigners" in the January 1987 SURVEY OF CURRENT BUSINESS.
The most recent improvements are outlined in the Technical Notes section of "U.S. International Transactions,
First Quarter, 1989" in the June 1989 SURVEY.) Information on sales of services by U.S. parents, their foreign
affiliates, and the U.S. affiliates of foreign companies is
collected as part of the benchmark and annual surveys
on their financial structure and operations. BEA has
also completed a benchmark survey and is conducting an
annual follow-on survey on selected U.S. services transactions with unaffiliated foreign persons.
For further information on direct investment and international services, write to the International Investment Division, BE-50, Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, DC 20230,
Foreign direct investment in the United
States
International services
Operations of U.S. parent companies and
their foreign affiliates
Operations of U.S. affiliates of foreign
companies
U.S. direct investment abroad
(202) 523-0640
-0646
-0649
-0650
-0649
February 1990
SURVEY OF CURRENT BUSINESS
Publication—Available from GPO: Stock No. 003010-00188- 7, price $5.00.
Diskette—Available from ESA/BEA: Accession No.
BEA IID 89-402, price $20.00.
10.5 U.S. Business Enterprises Acquired or Established by Foreign Direct Investors, Supplementary
Tables (tables, diskette). The results of BEA's survey
of new foreign direct investments in the United States.
Summary tables appeared in the May 1989 SURVEY OF
CURRENT BUSINESS article. This set of 21 supplementary
tables contains additional detail for 1987 and 1988 on the
number of investments and investors, investment outlays, and selected operating data of the U.S. business
enterprises acquired or established. Comparable tables
for 1980- -86 are also available. (1989) Available from
ESA/BEA:
1987-88:
Tables—Accession No. BEA IID 89-105, price
$10.00.
Diskette—Accession No. BEA IID 89-405, price
$20.00.
1980-86:
Tables—Accession No. BEA IID 89-106, price
$18.00.
Diskette—Accession No. BEA IID 89-406, price
$20.00.
10.6 Foreign Direct Investment in the United
States: Gross Product of Nonbank U.S. Affiliates,
1977-87 (tables) Presents, by industry of U.S. affiliate
and by country of ultimate beneficial owner, estimates
of U.S. affiliates' gross product. (1989) Available from
ESA/BEA: Accession No. BEA IID 89-407, price $10.00.
10.7 U.S. Direct Investment Abroad: Operations of
U.S. Parent Companies and Their Foreign Affiliates
(publication, diskette). Results of BEA's annual survey
of the worldwide operations of tXS- multinational companies. Contains information on the financial structure
and operations of both U.S. parent companies and their
foreign affiliates. Data are classified by country and industry of foreign affiliate and by industry of U.S. parent.
Updated annually.
U.S. Direct Investment Abroad: Operations of U.S.
Parent Companies and Their Foreign Affiliates,
Preliminary 1987 Estimates. (1989)
Publication—Available from GPO: Stock No. 003010-00191- 7, price $4.25.
Diskette—.Available from ESA/BEA: Accession No.
BEA IID 89-404, price $20.00.
U.S. Direct Investment Abroad: Operations of U.S.
Parent Companies and Their Foreign Affiliates,
Revised 1986 Estimates. (1989)
Publication—Available from GPO: Stock No. 003010-00189- 5, price $4.25.
Diskette—Available from ESA/BEA: Accession No.
BEA IID 89-403, price $20.00.
10.8 U.S. Direct Investment Abroad: Balance of
Payments and Direct Investment Position Estimates,
1977-81 (publication). Contains revised estimates of the
U.S. direct investment position abroad and balance of
payments transactions between U.S. parent companies
and their foreign affiliates for 1977-81. Includes esti-
49
mates by country and industry of foreign affiliate. (1987)
Available from ESA/BEA: Accession No. BEA IID 86150, price $5.00
10.9 U.S. Direct Investment Abroad, Country by
Industry Estimates, 1950-88 (computer tape). Annual
estimates of the U.S. direct investment position abroad
and of selected capital and income flows between U.S.
parent companies and their foreign affiliates. Estimates
are for 56 countries by 7 industries for 1950-65, 56 countries by 14 industries for 1966-76, 76 countries by 15
industries for 1977-81, and 80 countries by 15 industries for 1982-88. Available from ESA/BEA: Accession
No. BEA IID 50-002, price $100.00.
10.10 U.S. Direct Investment Abroad: 1982 Benchmark Survey Data (publication, computer tape). Results of BEA's latest benchmark survey of over 2,000 U.S.
multinational companies and their 18,000 foreign affiliates. Presents a detailed account of U.S. direct investment abroad in 1982, including data on balance sheets;
income statements; employment; employee compensation; U.S. merchandise trade; sales of goods and services;
research and development expenditures; property, plant,
and equipment; and taxes. Data are classified by country and industry of affiliate and industry of U.S. parent.
(1985)
Publication—Available from NTIS: Accession No. PB
86-169117, price $45.00 (paper copy), $8.00 (microfiche).
Computer tape—Available from ESA/BEA: Accession
No. BEA IID 86-001, price $100.00.
10.11 International Services: New Information
on U.S. Transactions With Unaffiliated Foreigners
(reprint). A presentation of the results of a new BEA
benchmark survey of selected U.S. international services
transactions. This article appeared in the October 1988
SURVEY OF CURRENT BUSINESS. (1988) Available upon request from the International Investment Division.
Other Tools for Measuring, Analyzing, and
Forecasting
BEA's work on economic accounts is supplemented by
various other tools for measuring, analyzing, and forecasting economic developments. These include a system
of business cycle indicators and a set of estimates relating to the environment.
Business cycle indicators
11.0 BEA maintains a system of indicators to track
business cycles. The system features the composite indexes of leading, coincident, and lagging indicators. The
composite indexes were revised as of the release of January 1989 data in March 1989. The revision incorporated
changes in components, changes in methodology for computing the indexes, and updated statistical factors and
historical revisions in data. (An article presenting the revision appeared in the January 1989 issues of the SURVEY
OF CURRENT BUSINESS and the Business Conditions Digest.)
50
SURVEY OF CURRENT BUSINESS
The data base includes series classified as cyclical indicators (because they conform well to broad fluctuations in
economic activity), as well as other series useful in interpreting the economic situation and outlook. Each month
a preliminary value of the composite indexes for the latest month and the revised values for the 5 preceding
months are released. Once a year, in the fall, the composite indexes are recalculated to incorporate historical
revisions in component data. Summary information on
the composite indexes appears in the SURVEY OF CURRENT
BUSINESS. For further information, write to the Business
Outlook Division, BE-52, Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, DC 20230,
or call (202) 523-0800. A recorded telephone message at
(202) 898-2450 provides current data for the composite
indexes (and the leading index components) immediately
upon their release. The message is updated weekly, usually on Monday, to include recently available component
data that will be incorporated into the next release (see
reference no. 1.1).
Current data:
11.1 BEA Reports: Composite Indexes of Leading,
Coincident, and Lagging Indicators (EBB, news release). Monthly reports with summary estimates of the
composite indexes. Reports are available online through
the EBB (see reference no. 1.2). Printed reports are
mailed the day after estimates are released. (This set
of reports is included in the five sets of BEA Reports; see
reference no. 1.3.) The printed composite index reports
are available from ESA/BEA on a subscription basis: Accession No. BEA-16-S, price $24.00 per year.
11.2 Business Conditions Digest (publication). A
monthly publication containing tables and charts for
more than 300 series, including business cycle indicators
and other series that help evaluate economic conditions.
Features the composite indexes of leading, coincident,
and lagging indicators. Also includes historical data and
data sources. Available from GPO: List ID BCD, price
$44.00 per year (domestic first class), $55.00 (foreign);
$4.00 single issue.
11.3
Business Conditions Digest Current Data
(EBB, diskette, printout). Data for the last 4 years for
most of the series in Business Conditions Digest (more
than 300 series). Updated monthly. Available online
through the EBB (see reference no. 1.2). Diskettes and
Business Conditions Digest To Be Discontinued
As the SURVEY went to press, decisions on a reprogramming at BEA
were finalized. As part of the reprogramming, BEA plans to discontinue publication of Business Conditions Digest and to put a scaleddown presentation of its business cycle indicators in the SURVEY OF
CURRENT BUSINESS. The SURVEY presentation, which will begin in
the April issue, will include data for over 250 series and charts for
about 130 series that are widely used in analyzing current cyclical
developments. For information on the effects of the reprogramming
on the availability of the products and services listed in this section,
write or call the Business Outlook Division, BE-52, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, D.C.
20230, telephone (202) 523-0800.
February 1990
printouts are available from ESA/BEA on a subscription
basis:
Diskette—Accession No. BEA SID 86-401, price
$200.00 per year.
Printout—Accession No. BEA SID 88-201, price
$100.00 per year.
Historical data:
11.4
Business Conditions Digest Historical Data
(diskette). Historical data (from 1945, when available,
to the present) for most of the series in Business Conditions Digest (more than 300 series). Updated monthly.
Available from ESA/BEA: Accession No. BEA SID 86402, price $40.00 (two diskettes).
11.5 Handbook of Cyclical Indicators (publication).
Series descriptions and data for 1947-82 for all series that appear in Business Conditions Digest. Includes an explanation of how the composite indexes
are constructed. (1984) Available from NTIS: Accession
No. PB85-106946, price $23.00 (paper copy), $8.00 (microfiche).
Environmental estimates
12.0 BEA maintains a set of annual current- and
constant-dollar estimates of capital expenditures and operating costs for pollution abatement and control. These
estimates, which are prepared within the framework of
the national income and product accounts, are classified
by sector (consumers, business, and government) and by
element of the environment affected (air, land, and water). The most recent SURVEY OF CURRENT BUSINESS article
reporting the capital expenditures appeared in November 1988, and the most recent article reporting the total expenditures (including operating costs) appeared in
June 1989. For further information, write to the Environmental Economics Division, BE-62, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230, or call (202) 523-0687. For specific
questions, the following telephone numbers may be used:
Total expenditures
Capital expenditures
(202) 523-4821
-0882
12.1 BEA Reports: Pollution Abatement and Control Expenditures (EBB, news release). News release
on annual pollution abatement and control expenditures.
Available online through the EBB (see reference no. 1.2).
Printed release available by calling or writing the Environmental Economics Division.
12.2 Stocks and Underlying Data for Air and Water Pollution Abatement Plant and Equipment (printout). Estimates of the gross and net capital stocks at
historical, constant, and current cost; estimates of capital expenditures in constant and current dollars; price
indexes by media (air and water) and for selected industry groups (manufacturing, electric utilities, and other
nonmanufacturing); and estimates of lifetimes by media
for pollution abatement plant and equipment. Available
from ESA/BEA: Accession No. BEA EED 86-201, price
$35.00.
CURRENT BUSINESS STATISTICS
The statistics here update series published in BUSINESS STATISTICS: 1986, a statistical supplement to the SURVEY OF CURRENT BUSINESS. That volume
(available from the Superintendent of Documents for $16.00, stock no. 003-010-00181-0) provides a description of each series, references to sources of
earlier figures, and historical data as follows: For all series, monthly or quarterly, 1983 through 1986, annually, 1961-86; for selected series, monthly or
quarterly, 1961-86 (where available).
The sources of the series are given in BUSINESS STATISTICS: 1986; they appear in the main methodological note for each series, and are also listed
alphabetically on pages 145-146. Series originating in Government agencies are not copyrighted and may be reprinted freely. Series from private sources
are provided through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated in footnotes below,
data through 1986 and methodological
notes are as shown in BUSINESS STATISTICS:
1986
1988
Annual
,, .,
umis
1987
1988
Dec.
1990
1989
j-.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
4417 5
44437
4,456 9
4,467.1 '4,501 8 '4,543.9 '4,566.6
Jan.
GENERAL BUSINESS INDICATORS
PERSONAL INCOME BY SOURCE f
Seasonally adjusted, at annual rates:
Total personal income
bil. $..
Wage and salary disbursements,
total
do
Commodity-producing industries,
total
do
Manufacturing
do
Distributive industries
.do....
Service industries .
do
Govt. and govt. enterprises .
do
Other labor income
do
Proprietors' income: :j:
Farm
do
Nonfarm
do
Rental income of persons with capital
consumption adjustment
bil. $..
Dividends
do
Personal interest income
do
Transfer payments
do
Less: Personal contributions for
social insurance
do
Total nonfarm income
do
DISPOSITION OF PERSONAL INCOME t
Seasonally adjusted, at annual rates:
Total personal income
bil $
Less: Personal tax and nontax
payments
do
Equals: Disposable personal income
do....
Less: Personal outlays
do
Personal consumption expenditures
do
Durable goods
do....
Nondurable goods
do
Services
do ....
Interest paid by consumers to
business
do
Personal transfer payments to
foreigners (net)
do
Equals: personal saving
do
Personal saving as percentage of disposable
personal income §
percent
Disposable personal income in constant (1982)
dollars
bil $
Personal consumption expenditures in
constant (1982) dollars
..
do
Durable goods
do
Nondurable goods .
do
Services
do
Implicit price deflator for personal consumption
expenditures
index, 1982-100 .
3,777.6
40645
42063
4,273.1
4,319.5
4,360.7
4,387 1
43963
r
r
4,602.5
27115
2 727.7
7489
'5577
r
628.9
'830
0
r
4870
2553
r
7485
r
5579
'635.5
r
8383
4891
2569
7477
5558
642.5
8435
4940
258.5
39 8
3136
r
386
3157
392
3186
11.7
1164
684.0
6509
13.3
117.2
688.2
6675
2152
214 8
4 383 1 4 398 6
r
r
'218 9
2179
2178
2163
4 412 4 '4 440 0 '4 482 3 '4,506.2
2277
4,541.6
4 443 7
44569
4 467 1 '4 501 8 '4 543 9 '4 566 6
46025
6452
3,798.5
3 5887
34853
478.4
1 130 0
1,877.0
648 3
3,808.6
3 624 8
3*521 2
498.9
1 129 7
1,892.6
6538
3,813.4
3 621 6
3 517 8
480.9
1 134 6
1,902.3
26684 '2 693 4
22494
24290
25167
25454
25573
2,579 4
2,601 3
26035
26217
26447
26510
6499
4903
531.9
6483
419 2
2128
696 3
524 0
571.9
714 4
446 5
2289
7140
5364
590.6
753 6
458 5
2382
7206
5414
597.3
7628
4646
2397
724 3
544 0
598.1
767 9
4670
2413
7348
5535
601.0
774 5
4692
2429
732 5
548 6
610.0
787 5
471 2
244 4
732 6
549 0
609.1
7883
473 6
2460
736 1
5520
613.3
796 6
4757
2475
739 2
553 4
620.2
8073
4780
2491
744 2
5569
615.6
8109
480 2
2507
7446
5568
622.5
818 9
4824
2522
751 9
5631
'628.0
r
8287
r
4849
2538
41 6
2700
39 8
288 0
294
297 4
480
2996
65 9
3006
630
300 8
56 4
304 6
54 3
303 5
43 2
304 6
388
306 3
36 5
3080
329
307 4
400
3063
13.4
920
5232
548 2
157
102 2
571 1
5847
16.0
1069
6064
595 6
13.8
108 4
6165
6107
11.8
109 4
6289
614 2
9.9
110 3
641 5
6242
98
111 0
6484
623 9
9.8
111 4
6552
625 5
97
111 8
661 8
6309
9.3
1128
6650
6326
8.4
1133
6679
636 4
-1.6
1136
6704
6402
1729
3 714 7
1949
40037
200 1
4 1559
209 0
4 204 0
209 8
4 2324
211 3
4 276 5
2126
4309 4
2127
4320 5
213 8
43526
3 777 6
4 064 5
4206 3
4 273 1
4 319 5
4 360 7
4387 1
4 396 3
4 417 5
571 7
3,205.9
3 104 1
3010 8
421.0
998 1
1,591.7
586 6
3,477.8
3 333 1
3 235 1
455.2
1 052 3
1,727.6
631 2
600 9
3,605.4 3,641.9
3 444 2 3 467 3
3 343 3 3 3656
473.1
482.4
1 074 6 1 093 8
1,786.3 1,798.7
621 7
3,697.8
3 487 1
3 3847
464.2
1 098 6
1,821.9
631 9
3,728.8
3 496 9
3 3940
461.8
1 102 5
1,829.6
668 4
3,718.7
3 534 4
3 432 1
477.4
1 112 9
1,841.8
649 1
3,747.2
3 547 9
3 4450
466.5
1 126 7
1,851.9
640 2
3,777.2
3 558 6
34554
469.1
1 125 0
1,861.3
r
-8.2
1148
6749
644 6
r
660 4
'3,841.4
'3 632 4
'3 528 1
'470.4
1 1352
1,922.6
2 694 7
r
r
'9.8
1158
6795
653 1
r
r
6631
'3,880.7
r
3
646 5
r
3'541 6
'467.9
1 1404
1,933.3
r
r
6679
6685
'3,898.1 3,934.6
r
3703 1
3
683
8
r
3r 578 3 35982
493.4
469.1
1 1528 1 155 3
1,956.4 ,1,949.6
921
989
989
99 5
100 2
1007
101 0
101 5
101 9
101 7
1020
1022
1025
1032
103.8
103.2
19
101 8
19
144 7
19
161 2
22
174 6
22
210 7
22
231 9
14
184 3
14
199 4
14
218 6
16
209 8
16
1837
16
191 8
17
r
209 1
17
'234 2
1.7
'214 3
1.7
231 5
32
42
45
50
56
56
55
54
55
54
51
51
'5 5
2 676 6
2793 2
2841 0
2 852 9
2 891 9
29000
2 8740
2 884 1
2904 5
2 913 4
29240
2 5137
389 6
890 4
12337
2 598 4
413 6
904 5
1 280 2
2 634 5
432 o
907 0
1 2955
2636 5 2 647 0 2 639 6 2 6524
430 5
417 1
417 2
423 7
918 1
9157
906 3
911 3
1 297 1 1 311 7 1 311 2 1 3157
119 8
124 5
126 9
127 7
127 9
128 6
129 4
2 651 5 2 657 1
423 0
421 3
911 2
911 7
1 318 4 1 3229
129 9
r
57
58
2920 1 '2 922 6 '2 942 1 '2 950 8
2948 1
2673 3 27033 2 693 8 '2 684 2 r 2r 685 0 '2 708 7 2696 0
4380
'418 8
'422 5
418 6
432 5
447 1
429 8
923 6
910 1
'929 5
'917 0
'918 2
922 5
916 2
1 327 3 1 333 8 1 337 7 1 344 7 1 348 2 1 360 4 1 347 9
1300
130 4
1303
1306
131 4
131 9
1321
1335
INDUSTRIAL PRODUCTION 0
Federal Reserve Board Index of Quantity Output
Not Seasonally Adjusted
Total index .
By industry groupings:
Mining and utilities
Manufacturing
Nondurable manufactures
Durable manufactures
Seasonally Adjusted
Total index .
By market groupings:
Products total
Final products
Consumer goods
1298
137 2
1364
137 1
140 1
139 5
140 9
140 2
144 9
140 0
1464
147 1
144 8
141 7
"1384
1369
do
do
do
do. ..
104 3
1347
136 8
133 1
107 5
1427
143 9
1419
109 4
141 4
141 1
1416
1102
1422
141 6
1427
111 1
1456
1450
146.0
1066
1458
145 6
145.9
104 5
147 7
148 Q
1475
1023
147 3
147 8
1469
1062
1522
154 5
1505
106 9
146 2
151 3
1426
109 8
1533
158 3
1498
1087
154 2
158 6
151.1
106 6
1520
157 7
147.9
107 5
1482
152 1
145.4
"110 6
"1437
"146 1
"141.9
109 2
142 1
1454
139.7
do
129 8
137 2
140 4
1408
140 5
1407
141 7
141 6
142 0
141 9
1425
1423
141 8
142 2
"1425
140 9
do
do
do....
138 3
136 8
127.8
1459
144 3
133.9
149 4
147 7
138.2
150 1
1482
138.5
150 0
148 6
138.7
150 5
148 9
138.4
151 6
150 2
139.5
151 7
150 4
139.2
152 5
151 2
139.9
151 8
1502
138.7
152 5
151 1
139.3
1524
150 8
139.0
151 5
149 4
140.2
1523
150 2
140.5
"153 5
"151 5
"141.4
151 3
1488
138.2
1977 — 100
See footnotes at end of table
S-l
S-2
SURVEY OF CURRENT BUSINESS
Unless otherwise: stated in footnotes
below, data through H)8(j and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
,, ...
Lims
1987
February 1990
1988
Annual
1988
Dec.
1990
1989
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION <>—Continued
Seasonally Adjusted— Continued
By market groupings — Continued
Final products— Continued
Durable consumer goods
1977=100...
Automotive products
do
Autos and trucks consumer
do
Autos, consumer
do....
Trucks, consumer
. r .do....
Home goods
do
Nondurable consumer goods
do....
Consumer staples
do
Consumer foods and
tobacco
do
Nonfood staples
do....
Equipment
do
Business
and
defense
equipment
do ....
Business equipment
do
Construction, mining,
and farm
do
Manufacturing
do ...
Power
do ....
Commercial
do ....
Transit
do
Defense and space equipment
do....
Intermediate products
do....
Construction supplies
do....
Business supplies
do
Materials
do ..
Durable goods materials
do....
Nondurable goods materials
do....
Energy materials
do
By industry groupings:
Mining and utilities .
do
Mining
do
Metal mining
do
Coal
do
Crude oil
Natural gas
Stone and earth minerals
Utilities
Electric....
Manufacturing
Nondurable manufactures
Foods
Tobacco products
Textile mill products
Apparel products
Paper and products
Printing and publishing
Chemicals and products
Petroleum products
Leather and products
Durable manufactures
Lumber and products
Furniture and fixtures
See footnotes at end of tables.
131.6
1316
1331
96.0
201.9
131 6
141.4
1497
130.1
1289
1283
95.0
190.0
131 1
141.4
149.9
132.2
1317
1317
98.8
192.8
1326
142.2
1507
131.2
1286
1274
96.0
185.5
1333
142.1
150.7
130.8
1256
1233
91.4
182.5
1348
143.3
151.9
127.3
1202
1146
81.2
176.7
1327
142.8
151.4
128.7
1223
1193
86.4
180.5
1335
143.2
152.0
127.9
1206
117.1
92.7
162.4
133 4
143.1
151.8
127.9
1192
113.1
91.5
153.3
1344
144.7
153.8
127.4
120.3
114.7
84.3
171.2
132.8
145.3
154.8
"128,5
"123.6
"118.3
"84.2
"181.7
"132.2
"146.1
"156.0
119.7
''99.5
''78.5
'56.1
120.2
135.0
145.1
154.7
1363
138.5
1489
140 9
149.1
1582
144 5
153.6
1604
144 8
154.2
161 1
144 3
155.4
161 6
1433
156.9
162.8
1447
156.9
1643
1447
156.9
1654
1457
158.4
166.1
144 2
158.9
165.5
1456
158.7
166.8
145.9
157.9
166.5
147.9
160.0
161.7
149.1
160.7
163.2
"149.3
"162.9
"164.9
160.2
162.9
153.6
1445
163.3
157 6
166.2
1626
167.1
1638
167.9
1650
168.9
1663
170.3
1678
171.5
1691
172.0
1696
171.3
168.5
172.5
1699
172.1
169.6
167.1
164.8
168.6
166.6
"170.6
"168.8
168.3
165.9
r
74.3
136.3
92.8
252.4
1257
180.0
156.6
142.3
1688
128.1
139.4
137.1
1005
75.6
137.8
92.7
254.3
1252
179.3
155.1
139.5
1684
127.4
138.6
135.9
1005
76.9
138.6
93.0
257.6
123.9
178.7
156.1
139.3
170.4
127.3
137.9
136.0
101.0
77.6
139.7
93.6
260.1
1248
179.9
156.5
140.2
1704
128.2
139.0
137.1
101.7
76.3
140.9
93.3
263.2
125.3
180.7
156.3
140.2
170.0
127.9
138.7
136.8
101.1
74.8
142.8
92.5
264.5
124.8
181.1
157.0
141.2
170.4
127.7
139.4
137.3
99.1
73.0
143.8
92.8
263.8
120.1
182.0
157.5
142.2
170.6
128.3
139.9
138.5
99.1
72.1
143.5
94.2
265.6
124.4
182.7
157.5
141.5
171.2
128.8
140.9
138.3
99.5
74.7
143.1
93.8
265.1
122.2
182.1
157.8
140.9
172.3
128.6
140.4
136.7
100.9
75.2
142.0
r
94.8
'259.3
107.7
176.0
158.6
142.6
172.3
128.7
139.2
138.4
101.7
75.4
141.8
'95.1
'262.4
111.2
176.6
159.5
143.9
172.8
128.4
138.8
138.0
101.9
"76.4
"141.6
"94.7
"263.4
"121.5
"177.7
"160.3
"143.7
"174.4
"127.6
"137.5
"137.5
"101.7
'77.5
142.1
'95.0
''261.3
107.4
177.7
159.9
144.0
104 3
100.7
77.6
131.8
92 7
100.3
85.5
128.2
110.3
126.6
134.7
136.8
137.8
103 5
115.9
107.4
144.4
172.1
140.2
935
163 6
60.0
133.1
130.3
152.8
119 1
81.3
70 6
101 6
111.0
1527
172.3
129.2
111.8
143 9
1075
103.4
93.2
137.9
92 9
98.5
86.6
139.9
114.3
132.0
142.7
143.9
142.7
105 2
116.2
109.1
150.3
184.2
151.9
960
174 4
595
141.9
137.3
162.1
122 6
89.2
78 1
110 2
120.9
1708
1801
132.1
1172
154 3
1089
104.9
111.9
155.1
889
95.8
87.0
149.4
115.4
132.9
146.3
147.1
145.8
107 0
117.9
108.8
151.7
188.0
158.1
980
177 5
60.2
145.7
143.0
165.4
125 1
90.0
77 6
113 4
125.1
177 8
180.9
136.8
125.5
159 1
1072
103.0
106.9
144.7
889
95.6
84.8
150.8
114.0
131.0
147.2
148.5
146.6
1050
120.2
110.2
153.8
193.0
159.0
980
175 9
629
146.2
139.9
166.3
126 6
93.2
82 2
113 9
124.5
1787
1809
136.7
1249
161 0
1068
100.9
98.6
134.7
89 5
94.9
89.0
142.5
116.5
135.3
146.8
148.1
146.3
1047
119.4
110.2
151.7
194.6
158.5
963
175 0
629
145.9
132.8
164.8
125 4
91.1
79 1
113 7
124.5
180 8
1817
136.4
1234
161 3
1075
101.5
98.1
137.7
89 6
92.9
88.6
143.5
117.5
137.0
147.0
148.6
145.4
101 5
119.7
109.9
151.7
198.5
159.2
970
176 4
61.2
145.8
133.4
165.8
125 5
88.4
759
112 0
123.8
1830
1816
134.8
120.4
1618
1079
102.4
96.8
145.5
89 1
91.6
86.3
144.5
117.1
137.1
148.0
149.6
146.6
109 2
122.5
111.3
150.7
200.1
159.3
973
178 0
614
146.9
135.1
168.0
124 7
90.1
77 0
114 9
123.1
184 7
1822
136.4
1220
163 0
1072
102.0
94.0
137.1
90 5
94.7
87.6
146.6
115.6
135.8
148.1
149.5
147.2
1059
123.6
111.5
150.1
199.0
158.2
969
180 5
60.3
147.1
135.5
170.2
123 9
87.2
73 2
113 7
124.8
186 5
1816
135.5
119.7
164 3
1063
101.5
101.2
129.2
90 6
92.2
88.8
150.2
114.3
134.6
148.7
150.5
147.9
104 2
123.8
111.9
150.2
200.5
159.9
979
182 3
60.5
147.4
137.2
170.8
123 9
87.3
72 9
114 6
125.2
187 5
181.9
134.2
116.4
1657
106.6
102.1
106.2
130.2
908
91.9
86.8
152.1
114.0
134.9
148.5
150.8
147.3
97 1
123.5
111.4
152.4
199.9
162.2
98.3
182 3
60.8
146.8
136.9
169.0
122 9
89.2
754
115 2
125.4
1867
181.4
131.3
110.4
1660
106.5
102.4
103.7
135.4
903
90.7
87.8
151.5
113.3
134.2
149.2
151.1
148.3
999
123.2
111.1
152.8
200.6
161.5
97.7
183 6
60.2
147.8
136.5
168.0
123 9
90.3
759
117 4
125.5
187.8
183.7
133.2
114.2
164.1
107.7
103.5
104.3
144.2
900
91.5
86.4
148.8
114.5
135.5
148.8
151.1
148.8
973
123.2
111.2
153.4
203.1
159.3
98.4
184 2
60^4
147.2
135.7
167.6
1234
89.2
754
115 2
124.4
188.2
182.7
131.9
112.7
163.1
108.6
104.4
104.0
144.4
'909
'90.9
'90.4
151.8
115.6
136.8
148.0
152.4
150.3
99.2
123.5
110.0
155.5
'204.8
161.3
98.1
186 0
'60.0
144.9
137.4
167.5
123 6
'89.0
764
112 8
124.1
184.1
182.2
123.9
110.1
162.5
"110.1
108.7
"102.4
104.5
104.4
IMA """"138.3
91 2
"897
"90.0
'91.3
"89.6
91.0
"153.6
151.1
"122.8
115.5
"145.0
136.6
"148.6
148.5
"152.4
152.7
"151.7
151.6
106.5
104.6
mil. $.. 5,394,437 5,829,069
533,442
466,290
475,439
527,377
510,744
530,722
539,496
484,836
532,799
'"507,081 '511,811
230 827 231 485
124 175 123 578
106,652 107,907
139 356 139 970
607
'54 448 '53
'84 908 r86 363
136
898 140 356
r
70302
68 591
'68,307
70,054
507,328
228 353
120 924
107,429
139 428
53071
86357
139 547
69 343
70,204
507,555 517,745
228 048 234 042
120 432 123331
107,616 110,711
139516 141 413
53 901
52886
87 512
86630
139 991 142 290
69 345
68796
71,195
72,945
518,088
233 071
122 962
110,109
142 543
54 139
88404
142 474
70 293
72,181
515,695
231 236
121 720
109,516
142 500
54016
88484
141 959
69 147
72,812
511,144
225 922
117 114
108,808
143 555
54653
88 902
141 667
70220
71,447
4650
212 4
126 8
1257
4602
209 1
126 3
124 8
4635
210 6
126 9
1260
4622
209 3
1269
1260
4581
2047
127 8
1256
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do....
do....
do....
do....
do ....
do
do ..
do....
do....
do
Retail trade
Merchant wholesalers
131.5
1325
135 6
99.6
202.3
1307
141.1
1494
74.6
137.0
91.8
248.9
124.9
180.5
155.0
141.4
166.7
128.3
139.0
136.3
102.6
Fabricated metal products
Nonelectrical machinery
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments
Merchant wholesalers total
Durable goods establishments
Nondurable goods establishments
Mfg. and trade sales in constant (1982)
dollars (seas adj ), total §
131.9
1345
1380
105.1
199.1
1300
140.5
148.9
719
131.3
89.4
245.2
1151
185.8
151.5
138.6
1625
125.2
135.4
132.0
1015
do....
do
Durable rood's industries
Nondurable goods industries
Retail trade total
Durable goods stores
125.3
124 9
1227
93.4
177.0
1256
137.1
1449
62.2
117.9
82.6
226.5
1084
188.9
143.4
131.5
1535
118.2
125.0
125.9
998
Primary metals
Iron and steel
BUSINESS SALES
Mfg. and trade sales (unadj.), total :f:
Mfg. and trade sales (seas, adj.),
total :j:
120.2
1185
115 1
90.7
160.5
121 6
130.6
1374
do ...
1
1
5,394,437 5,829,069
1 2 390 045 1% 611 589
1 263 492 l'388 211
1,126,553 1,223,378
J
l 521 4171 1 629 150
628 543
572 489
948 928 1 000 607
1
1
do
1 482 975 1 588 330
782 744
do
725 683
757,292
do ...
805,586
d
do...
do
do
bil $
do
do
4658
2157
1268
123 3
4576
207 6
1258
1242
4648
212 1
126 4
1263
121.5
109.3
153.5
'206.8
162.1
'98.2
'1852
'57.5
145.5
138.9
167.9
'124 3
85.1
'72.0
'109 8
125.4
187.5
181.3
125.1
110.4
161.9
"122.3
"108.2
"154.1
"207.7
"161.6
"95.5
"184 1
"55.6
"145.9
"139.0
"168.5
"1236
"83.0
"70.2
"107 1
"124.7
"188.2
"180.9
"128.6
"110.7
"160.8
531,921
530,642 '524,579
544,977
526,290
238 150
128 347
109,803
144 860
55876
88984
143 280
71 228
72,052
522,760
233 562
124 393
109,169
145 293
55,861
89 432
143 905
71543
72,362
519,975
231 995
121 840
110,155
143 426
53,980
89446
144 554
71598
72,956
'522,289
'232 826
123 209
109,617
144 387
'54,067
'90 320
145 076
'72,575
'72,501
522,528
231 759
122 098
109,661
144,058
52,924
91 134
146,711
72,610
74,101
4725
2154
129 6
127 6
4689
211 4
1298
1278
464.7
2092
1275
1280
467.4
2101
1276
1297
126.6
136.6
137.4
100.0
153"3
109.6
129.6
147.2
152.7
r
209.0
'99.0
143.3
P
84.8
123.4
186.6
181.9
115.1
•-87.0
161.6
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
S-3
SURVEY OF CURRENT BUSINESS
February 1990
Annual
,, .,
Unlts
1987
1988
1990
1989
1988
Dec.
Feb.
Jan.
Mar.
Apr.
May
June
July
Sept.
Aug.
Nov.
Oct.
Jan.
Dec.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INVENTORIES
Mfg. and trade inventories, book value
(non-LIFO basis), end of period,
(unadjusted), total :|:
mil. $..
690,458
743,191
743,191
753,035
763,793
770,121
777,354
780,377
779,755
783,708
782,573
785,213
804,080 '810,792
784,204
Mfg. and trade inventories, book value
(non-LIFO basis), end of period,
(seas, adj.), total :i:
mil. $..
700,761
753,718
'753,299
759,803
763,051
765,504
771,340
778,093
780,802
787,584
790,368
790,572
793,157 '797,046
795,196
Manufacturing, total
Durable goods industries
Nondurable goods industries
do....
do....
do...
331,132
216,598
114,534
354,163
233,666
120,497
354,163
233,666
120,497
357,458
236,810
120,648
359,056
238,165
120,891
361,130
239,330
121,800
363,458
240.486
122 c<79
365,055
241,689
366,492
242,295
370,803
245,813
370,890
245,621
123 366
124 197
124 990
371,489
246,378
125111
125 269
371,712 '372,813
246,427 217,610
125,285 125,203
371,468
246,470
124,998
Retail trade, total
Durable goods stores
Nondurable goods stores
do....
do ....
do....
206,981
106,271
100,710
221,242 '"220,510
114,994 114,248
106,248 106,262
222,584
115,704
106,880
224,185
116,169
108,016
224,693
115,993
108,700
226,656
117,093
109,563
230,423
118,835
111,588
231,762
119,542
112,220
232,831
119,864
112,967
235,350
121,782
113,568
236,791
123,030
113,761
235,326 ''237,246
120,422 120,830
114,904 116,416
237,030
119,387
117,643
Merchant wholesalers, total....
Durable goods establishments
Nondurable goods establishments
do....
do....
do
162,648
106,482
56,166
178,313 178,626
115,743 116,075
r
62,570
62,551
179,761
117,255
62,506
179,810
117,932
61,878
179,681
117,424
62,257
181,226
119,069
62,157
182,615
120,481
62,134
182,548
120,231
62,317
183,950
122,142
61,808
183,529
121,520
62,009
182,891
120,614
62,277
186,119 186,987
122,351 122,876
63,768 '64,111
186,698
122,718
63,980
688.0
327.3
193*6
691.1
328.8
194*8
690.8
328.3
195*5
194*9
693.0
329.6
195*6
699.0
334.4
697.0
333.4
702.5
332.7
199*5
167.1
167.8
167*7
'701.2
333.5
197*5
170*2
'704.9
'334.2
199~6
166.9
196*1
168.6
196.0
167.4
694.5
330.4
196*4
167*8
697.0
333.5
194*7
167.0
690.5
328.3
195*7
166*5
171.1
170.3
ratio
1.49
1.48
1.50
1.51
1.49
1.50
1.51
1.54
1.50
1.51
1.53
1.53
1,52
do
do
do
do
do
1.53
1.88
1.54
1.92
1.57
1.97
1.58
1.99
1.55
1.95
1.57
1.97
1.58
1.99
1.56
1.92
1.60
2.02
1.60
2.01
1.60
2.02
.54
.88
.50
.55
.91
.51
1.59
1.97
.53
.87
.48
.56
.93
.50
.54
.92
.49
.54
.93
.49
.55
.94
.50
1.64
2.10
do
do
do
do
1.13
1.12
1.13
1.13
1.11
1.12
.44
.18
.50
.44
.18
.51
1.13
.44
.18
.51
.44
.19
.51
.42
.19
.50
.42
.18
.51
1.15
.43
.19
.52
.43
.19
,53
Retail trade, total
Durable goods stores
Nondurable goods stores
do
do
do
1.58
'2.10
1.25
1.59
'2.16
1.24
1.61
2.19
1.25
1.61
2.19
1.25
1.60
2.17
1.25
1.62
2.19
1.26
1.63
2 21
L27
1.62
2,19
1.27
1.62
2.18
1.28
1.63
2.20
1.27
1.64
2.23
1.28
1.64
'2.23
1.29
1.65
2.26
1.29
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments...
do
do
do
1.30
1.69
1.28
1.67
1.29
1.70
1.28
1.71
1.27
1.72
1.28
1.71
1.29
1.74
1.30
1.74
1.28
1.71
1.27
1.69
1.29
1.71
1.29
1.69
1.27
1.69
Mfg. and trade inventories in constant (1982)
dollars, end of period(seas. adj.),total §....bil. $ ..
Manufacturing
do
Retail trade
.
do
Merchant wholesalers
do
691.1
329.1
168.8
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade total j
Manufacturing, total
Durable goods industries
Materials and supplies
Work in process
Finished goods
Nondurable goods industries
Materials and supplies
Work in process
Finished goods
Manufacturing and trade in constant (1982)
dollars, total §
do
Manufacturing
do
Retail trade .
do
Merchant wholesalers
do
.92
.89
1.48
1.52
1.53
1.36
1.49
1.55
1.54
1.33
.88
1.50
1.57
1.55
1.34
.87
1.51
1.58
1.56
1.34
.85
1.49
1.55
1.54
1.32
.86
.86
1.50
1.57
1.54
1.33
1.50
1.58
1.55
1.33
.58
.99
.53
.87
1.52
1.63
1.52
1.34
.53
.91
.48
1.14
.43
.19
.52
.54
.93
.50
1.15
.43
.19
.53
.56
.95
.51
1.14
.42
.19
.52
.55
.95
.51
1.14
.43
.19
.52
.55
.96
.50
1.14
.43
.19
.52
.86
.86
.87
.88
.86
1.48
1.55
1.51
1.32
1.49
1.58
1.51
1.31
1.51
1.59
1.55
1.33
1.51
1.59
1.56
1.33
1.50
1.59
1.56
1.31
MANUFACTURERS' SHIPMENTS,
INVENTORIES, AND ORDERS t
Shipments (not seas, adj.), total
mil. $
2,390,045 2,611,589
226,032
212,037
229,134
238,698
235,253
233,725
245,779
207,794
233,026
247,693
238,230 '231,320
228,887
Durable goods industries, total
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
Fabricated metal products
Machinery, except electucal
Electrical machinery.....
Transportation equipment
Motor vehicles and parts
Instruments and related products
do
do
do
do
do
do
do
do
do
do,
1,263,492
62,142
117,092
50,812
135,005
216,605
210,695
323,026
197,049
66,805
1,388,211
64,044
142,196
60,950
144,064
247,152
227,136
351,927
219,257
72,456
122,482
110,887
4,849
12,181
5,068
11,771
18,612
17,642
29,190
20,158
5,830
121,870
5,064
12,905
128,704
125,254
5,709
12,940
124,193
5,556
12,537
5,239
13,760
21,972
19,324
32,534
21,266
6,387
131,766
104,423
5,034
11,040
4,464
12,419
19,405
17,369
22,072
11,728
122,298
5,725
12,120
4,863
13,927
20,950
19,854
31.128
19,455
132,337
122,206
4,653
10,123
5,918
6,134
14,581
24,436
22,314
33,365
19,962
7,055
125,350 122,261
'5,414
5,900
12,059 11,271
'4,586
4,890
14,506 13,693
21,561 '21,345
20,098 '20,365
'31,955
31,212
20,121 '20,636
'6,456
6,659
Nondurable goods industries, total
Food and kindred products
Tobacco products
Textile mill products
do
do
do
do
1,126,553 1,223,378
356,804
324,996
22,240
19,935
59,774
57,481
103,550
30,719
2,455
101,150
29,650
107,264
31,572
110,728
32,654
115,356
34,416
4,742
5,397
5,615
5,236
114,013
33,322
2,399
5,747
103,371
30,693
5,118
109,532
32,421
2,267
5,268
112,880 109,059
33,791 r32,689
2,363
2,111
'5,428
5,657
106,681
32,682
2,527
4,624
124,187
240,476
124,218
91,089
10,528
20,397
10,363
10,822
20,853
10,044
7,885
11,036
21,483
10,162
8,200
11,098
21,960
10,611
11,001
22,413
12,094
8,466
10,787
21,739
11,933
11,387
22,463
12,331
8,683
10,439
20,213
11,905
10,641
'20,202
11,545
'"7,322
10,106
20,770
12,140
4,815
11,796
4,836
11,732
23,686
20,728
31,993
18,020
6,523
1,218
5,198
13,210
21,421
19,078
32,477
21,778
6,138
1,574
5,221
13,075
5,365
14,012
24,125
20,808
32,811
20,518
6,535
109,994
32,928
2,392
5,391
13,591
22,010
19,558
32,854
21,739
6,085
109,999
31,613
1,733
5,915
12,955
5,208
14,369
25,744
21,282
31,883
19,246
6,949
1,300
4,531
1,886
5,715
12,210
4,841
2,331
5,607
5,754
10,949
21,099
11,495
11,091
21,837
12,076
8,249
4,135
12,800
23,942
21,659
31,429
16,242
6,964
Paper and allied products
Chemical and allied products
Petroleum and coal products
Rubber and plastics products
do
do
do
do
Shipments (seas, adj.), total.
By industry group:
Durable goods industries, total #
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
do
230,827
231,485
228,353
228,048
234,042
233,071
231,236
225,922
238,150
233,562
231,995 '232,826
231,759
do
do
do
do
124,175
5,549
12,861
120,924
5,356
12,553
5,080
120,432
123,331
5,103
5,128
122,962
5,404
12,250
5,048
121,720
5,466
12,179
4,858
117,114
5,287
12,100
4,867
128,347
5,201
123,578
5,575
12,869
5,222
12,215
4,973
124,393
5,328
11,978
4,863
121,840 123,209
r
5,431
5,515
11,819 11,499
'4,765
4,845
122,098
5,336
10,950
4,422
do
do
do
do
do
12,865
21,642
19,953
32,521
20,948
13,198
21,491
19,794
31,834
20,850
13,044
21,939
19,225
30,698
19,700
13,135
21,948
19,541
30,298
18,941
13,269
22,054
20,299
31,489
20,146
13,370
22,253
19,952
31,177
19,805
13,327
22,558
19,839
30,003
18,154
13,392
21,586
19,564
27,096
15,752
14,060
22,842
20,064
35,295
22,598
13,939
22,245
20,312
32,167
19,239
13,983
21,985
19,930
29,819
18,518
14,114
'22,355
19,994
'31,142
19,829
14,084
21,956
20,634
30,624
18,661
6,595
'6,564
6,736
110,155 109,617
32,882 '32,858
'2,134
2,323
'5,395
5,311
10,976 11,007
21,166 '21,266
11,924 11,492
'7,512
7,556
109,661
33,052
Fabricated metal products
Machinery, except electrical
Electrical machinery .
Transportation equipment
Motor vehicles and parts
Instruments
and
related
products
Nondurable goods industries, total #
Food and kindred products
Tobacco products
Textile mill products.
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
See footnotes at end of tables.
do
do
do
do
do
do
do.
do
do
110,252
212,705
124,528
80,510
7,518
8,162
5,150
5,451
12,377
12,486
8,516
7,194
8,127
5,451
6,342
6,403
6,259
6,200
6,308
6,439
6,393
6,264
6,344
6,549
106,652
30,995
107,907
31,720
107,429
31,842
107,616
32,364
2,003
5,333
10,896
20,862
11,090
7,875
110,711
32,283
109,516
32,245
108,808
31,730
109,803
32,968
1,961
109,169
32,258
2,008
5,342
10,885
21,455
10,992
8,246
10,857
20,877
11,902
7,943
1,957
1,878
1,819
5,397
10,956
21,110
10,237
5,520
10,938
21,327
10,384
8,568
5,458
10,802
21,021
10,786
7,986
8,318
2,104
110,109
32,470
2,083
5,337
10,927
21,497
12,306
10,900
21,478
11,934
8,174
8,310
5,315
1,893
5,311
10,906
21,457
11,986
8,072
1,792
5,254
10,846
21,820
11,522
8,021
5,216
11,046
20,566
12,103
7,954
7,010
2,014
4,943
10,567
21,445
12,080
7,598
S-4
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
SURVEY OF CURRENT BUSINESS
1987
February 1990
1988
Annual
,, .,
Units
1988
Dec.
1990
1989
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SHIPMENTS,
INVENTORIES, AND ORDERS "—Continued
Shipments (seas, adj.)— Continued
By market category:
Home goods and apparel
mil. $.. 1 164,861 '170,860
Consumer staples
do
'461 025 1 501 301
Equipment and defense products,
except auto
do .... '391,189 '433,296
Automotive equipment
do.... 1 223,069 '248,003
Construction materials, supplies, and
intermediate products
do.... '192,664 '204,769
Other materials, supplies, and
1
intermediate products
do
957 237 1 052710
Supplementary series:
1
Household durables
do
'79,219
75 607
Capital goods industries
do.... '445,633 '486,607
'380017
Nondefense
do
'336
190
1
Defense . . .
.
do
109 443 ' 106 590
Inventories, end of year or month:
Book value (non-LIFO basis),
348,465
(unadjusted), total
do.... 325,695
229,040
Durable goods industries, total
..do .... 212,265
119,425
Nondurable goods industries, total
do....
113,430
Book value (non-LIFO basis),
354 163
(seasonally adjusted) total
do
331 132
By industry group:
Durable goods industries,
233,666
total #
do.... 216,598
7 505
7 216
20,279
Primary metals
do....
18,189
10,119
Blast furnaces, steel mills
do....
8,590
23552
Fabricated metal products..
do
22684
46,729
Machinery, except electrical
do....
41,935
Electrical machinery
do....
40,683
39,396
Transportation equipment
do ....
63,229
57,203
Motor
vehicles
and
parts
do ....
11,839
11,391
Instruments and related
products.
...
do
14 040
12669
By stage of fabrication:
Materials and supplies
do....
65,252
61,255
Work in process
do
108 392
99952
60022
Finished goods
do
55391
Nondurable goods industries,
total #
.
do
120 497
114 534
Food and kindred products
do....
26,361
24,744
5 609
5 586
Textile mill D duct
d
7 605
7 458
Paper and allied products
do
12065
11 242
Chemicals and allied
27 515
products
do
25061
Petroleum
and
coal
products
do ....
8,879
9,951
Rubber
and plastics
products
do
10 326
9 112
By stage of fabrication:
Materials and supplies
do....
47,294
44,354
19 291
18 752
Finished goods
do
53 912
51 428
By market category:
26 313
26 772
Consumer staples
do
42399
44 900
Equip, and defense prod.,
exc auto
do
105 287
96 004
Automotive equipment
do
14 611
14 013
Construction materials, supplies, and
intermediate products
do....
25,250
24,222
Other materials, supplies, and
intermediate products
do
137 802
127 722
Supplementary series:
12 791
12 843
Capital goods industries
do
121 064
110 643
85 691
77 139
Defense
do
35373
33 504
New orders, net (unadj.), total
do... 2,423,597 2,659,525
Durable goods industries, total
do... 1,293,236 1,435,605
Nondurable goods industries, total
do ... 1,130,361 1,223,920
New orders, net (seas, adj.), total
do... '2,423,597 '2,659,525
By industry group:
Durable goods industries, total
do ... ' 1,293,236 ' 1,435,605
' 122 590 '144 128
1
Blast fu aces tee! 'i'ls
d
' 60 273
53 724
Nonferrous and other primary metals
do
' 59 129 '73288
Fabricated metal products.
do... ' 136,494 ' 142,602
Machinery, except electrical
do... '221,041 '253,798
Electrical machinery
do
'212 442 ' 227 440
Transportation equipment
do... '337,585 '388,832
Aircraft, missiles, and parts
do... '116,403 '136,560
Nondurable goods industries, total
do... '1,130,361 '1,223,920
Industries
with
unfilled
orders :!:
do
'291418 '311,623
Industries without unfilled
orders () •
•••
do
'838943 '912297
By market category:
Home goods and apparel
do
'166091 '170374
'460 952 '501 477
Equip, and defense prod., exc. auto
do..
'409,548 '466,606
Automotive equipment
do
'223 543 '247 655
Construction materials, supplies, and
intermediate products
do..
' 192,464 '205,319
Other materials, supplies, and
intermediate products
do..
'970,999 ' 1,066,503
Supplementary series:
Household durables
do..
'78,985
'75,832
Capital goods industries
do ..
'466,264 '528,817
Nondefense
do ..
'356,478 '419,559
Defense
do..
'109,786 '109,258
See footnotes at end of tables.
15,317
43 518
15,108
44 467
14,797
44 556
14,608
44 969
14,894
45727
14,660
45 902
14,668
45 471
14,513
45 362
14,823
46622
14,657
46076
14,918
46808
14,745
'46,780
15,002
47,503
38,315
23,527
37,178
23,343
37,153
22,154
37,802
21,351
38,337
22,522
38,616
22,256
38,878
20,356
38,317
17,956
40,285
24,963
40,530
21,578
38,644
20,933
'39,184
'22,205
39,453
20,979
18,102
18,390
17,400
17,251
17,473
17,331
17,355
17,124
17,899
17,463
17,767
17,700
17,199
92 048
92 999
92 293
92067
95089
94 306
94508
92650
93558
93258
92925
r
92,212
91,623
6934
42,772
32 675
10 097
6933
42,060
33 330
8730
6955
41,858
33 455
8403
6864
42,528
34079
8449
6,977
43,232
34 599
8633
6948
43,224
34527
8697
6,781
43,984
34759
9,225
6,705
42,456
34263
8193
6,918
45,082
36 146
8936
6,758
44,962
35,730
9,232
7,025
42,424
34,171
8,253
'6,997
'42,875
'34,122
'8,753
7,291
44,107
34,377
9,730
348,465
229,040
119,425
356,430
235,168
121,262
360,741
238,967
121,774
362,082
240,180
121,902
365,848
242,195
123,653
368,621
244,712
123,909
366,693
242,874
123,819
371,440
246,576
124,864
372,752
247,377
125,375
369,102
244,580
124,522
370,808 '371,439
245,807 '246,486
125,001 124,953
365,520
241,750
123,770
354 163
357 458
359 056
361 130
363 458
365 055
366,492
370 803
371 489
370,890
371,712 '372,813
371,468
233,666
7 505
20,279
10,119
23552
46,729
40,683
63,229
236,810
7 561
20,589
10,222
23776
47,407
41,090
64,660
238,165
7 609
20,785
10,353
23771
47,532
41,371
65,368
239,330
7 630
20,880
10,537
23,962
47,730
41,288
65,996
240,486
7 704
21,036
10,563
23,947
47,660
41,553
66,681
241,689
7 740
21,223
10,526
23892
47,820
41,564
67,557
242,295
7 748
21,275
10,532
23,726
47,885
41,087
68,333
245,813 246,378
7 799
7 840
21,233
21,413
10,657
10,658
24,170
24,105
48,370
48,234
41,787
41,637
70,081 70,164
245,621
7 844
21,040
10,613
23,934
48,429
41,316
69,785
246,427 '247,610
'7 832
7 870
20822 '20,742
10,533 10,570
23,761 '23,732
48,411 '48,681
41,318 '41,191
70,666 '71,725
246,470
7 809
20,551
10,467
23,351
48,214
40,842
72,736
11,839
12,282
12,246
12,169
12,134
12,237
12,152
13,030
12,686
12,339
12,433
12,310
11,833
14 040
14125
14 218
14336
14,361
14062
14,107
14,098
14095
14,277
14,350
14,452
14,058
65,252
108 392
60022
66,273
109 309
61228
66,852
110 118
61 195
67,278
111 555
60497
66,887
113381
60,218
66,748
114 291
60650
66,681
114668
60,946
67,565
116 487
61,761
67,746
116 560
62072
67,611
115,477
62,533
68,010 '68,058
115,756 117,051
62,661 '62,501
67,699
117,128
61,643
120 497
26,361
5 609
7 605
12065
120 648
26,266
5 349
7*636
12093
120 891
26,245
5 432
7 606
11 941
121 800
26,301
5 372
7 495
11 905
122 972
26,588
5 403
7 648
11 943
123 366
26,181
5 431
7 810
12 070
124 197
26,180
5 525
7 803
12320
124 990
26,416
5 669
7 973
12 483
125 111
26,326
5 659
8 093
12572
125,269
26,442
5 587
8 086
12,597
125,285 125,203
26,243 '26,283
'5 551
5 583
'8 071
8 140
12,605 12,554
124,998
26,436
5473
8 197
12,560
27 515
27 601
27 880
28 510
28 816
29 069
29 182
29209
29396
29415
29386
'29,273
28,897
8,879
9,376
9,578
9,897
10,346
10,423
10,695
10,554
10,452
10,335
10,370
10,286
10,424
10 555
10657
10631
10,629
10,640
10,592
10,517
10326
10418
10405
10 572
10 567
10619
47,294
19 291
53 912
46963
19 532
54 153
46900
19 522
54 469
46,858
20 075
54 867
46,780
20 493
55 699
46,679
20 290
56 397
46,773
20 524
56*900
46,891
20 837
57 262
47,073
20 919
57 119
46,643
20 985
57641
46,769
21405
57 111
'47,069
'21,146
'56,988
46,857
21,168
56,973
26 313
44 900
26 177
44 206
26 058
44279
26 053
44454
26 257
44977
26 419
44 909
26 286
45 269
26 811
45 666
27 218
45788
27 548
45,777
27 729
45,731
'27 937
'45,711
27 778
45,703
105 287
14 611
106 390
15002
107 523
15?045
108 309
15013
109 160
15 165
109 580
15'245
110 611
15 287
111 854
16 243
112 073
15 845
111 923
15,428
112,353 113,574
15,447 15,266
114,176
14,802
25,250
25,201
25,059
25,042
24,986
25,405
25,521
26,038
26,087
26,025
'25,987
25,691
137 802
140 482
141 092
142 259
142 913
143 497
143 518
144 191
144,478
144,189
144,393 144,338
143,318
12 791
121 064
85 691
35373
235,710
132,230
103,480
238,886
12 952
122'944
87 167
35777
222,407
120,986
101,421
236,075
12 927
124 034
88 241
35793
235,462
128,116
107,346
231,306
13 046
124 742
88 326
36416
246,325
135,749
110,576
233,011
13 110
125*413
89 051
36 362
240,054
130,202
109,852
239,907
13 146
126 541
89 755
36786
231,196
121,766
109,430
233,753
13 026
127 190
90 414
36776
246,498
132,111
114,387
235,157
13 232
128 543
91 443
37 100
213,360
109,964
103,396
230,447
13 513
129 122
91 720
37 402
229,098
118,323
110,775
236,793
13 687
128,834
91 803
37031
247,945
132,753
115,192
234,354
13 688
129,794
92 075
37,719
237,369
125,267
112,102
234,067
'13 717
131,239
'93 098
'38,141
'238,524
130,044
108,480
'239,710
13 613
131,905
93977
37,928
241,696
135,122
106,574
244,203
132,149
13 210
5 350
128,479
13 079
5 840
124,107
12 602
5 112
125,377
11 885
4 635
129,372
12 865
4 741
123,524
12 481
4 870
125,137
11 770
4 424
122,031
11 510
4 436
126,766
11 251
4 435
125,227
11 399
4 541
124,262 130,175
11 022 11 249
'4 640
4 768
134,351
10 816
4 457
6902
12,917
21,710
19 922
39,550
14,145
106,737
6274
12,983
22,384
19 563
36,133
13,350
107,596
6568
13,377
21,921
19 573
33,381
10,730
107,199
6412
12,910
22,255
18 272
37,050
15,892
107,634
7 163
13,007
22,731
19 890
37,062
15,240
110,535
6686
12,792
22,288
18 677
33,470
11,405
110,229
6528
13,435
23,348
19 593
33,414
12,312
110,020
6295
12,820
20,917
19773
34,012
17,134
108,416
5972
13,275
22,643
19424
36,514
12,426
110,027
6,012
13,689
22,554
20,898
32,555
11,570
109,127
'5,828
5,465
13,875 13,800
21,476 '22,676
20,131 '21,609
33,185 '36,779
12,135 14,901
109,805 109,535
5,591
14,089
21,604
22,689
40,885
18,422
109,852
27018
26660
26994
26701
27,305
27315
27,544
26,768
27,571
27,282
27,040
'27,485
26,862
79 719
80936
80205
80933
83230
82914
82476
81 648
82456
81,845
82,765
'82,050
82,990
15 504
43 491
46,534
23 633
15457
44 417
40,472
23 295
14 646
44 525
40,503
22 141
14 473
44 945
41,711
21 342
14977
45683
43,728
22 344
14 361
46 136
40,138
22 Oil
14558
45 554
43,069
20 255
14 540
45 278
40,711
17 777
14769
46 651
40,089
24 820
14,823
46 040
41,707
21 423
15,148
46 809
40,634
20788
14,816
'46 793
'44,506
'22,230
15,445
47 448
51,040
20,965
26,059
18,098
18,163
17,180
17,106
17,366
17,295
17,219
16,805
17,337
17,546
17,685
17,575
17,553
91,626
94,271
92,311
93,434
95,809
93,812
94,502
95,336
93,127
92,815
93,003
'93,790
91,752
7,158
49,839
39,432
10,407
7,206
47,167
40,352
6,815
6,813
45,348
37,189
8,159
6,703
48,598
38,137
10,46
7,119
48,940
40,389
8,551
6,639
44,862
37,290
7,572
6,673
48,084
39,146
8,938
6,801
49,071
41,445
7,626
6,913
45,086
37,130
7,956
6,893
45,980
35,341
10,639
7,139
45,546
35,975
9,571
'6,994
'50,168
'38,90
11,267
7,42
55,84
45,89
9,95
Jan.
SURVEY OF CURRENT BUSINESS
February 1990
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
S-5
1990
1989
1988
Annual
I T n l..t s
U
1987
1988
Dec.
Jan.
Mar.
Feb.
Apr.
June
May
July
Sept.
Aug.
Nov.
Oct.
Jan.
Dec.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SHIPMENTS,
INVENTORIES, AND ORDERS tt_Continued
Unfilled orders, end of period (unadjusted),
total
mil $
415 998
Durable goods industries, total
do.... 396,563
Nondurable goods industries with
unfilled orders :j:
do....
19,435
Unfilled orders, end of period (seasonally
adjusted) total
mil. $.. 421,243
By industry group:
400 720
23 ggg
P 'marv metals
'
d
Blast furnaces, steel mills
do....
11,637
Nonferrous and other primary metals
do....
10,265
Fabricated metal products
do
29 970
Machinery, except electrical
do.... 52,702
Electrical machinery
do.... 93,696
Transportation equipment
do
173 733
Aircraft,
missiles,
and
parts
do
144 343
Nondurable goods industries with
unfilled orders $ .
do
20523
By market category:
Home goods and apparel
do
9 075
Consumer staples
do
675
Equip, and defense prod., excl.
252 751
Automotive equipment
do
9 239
Construction materials, supplies, and
intermediate products
do....
15,060
Other materials, supplies, and
134 443
Supplementary series:
Household durables
do
6 480
Capital goods industries
do
301 674
Nondefense
do
139 814
Defense
do.... 161,860
BUSINESS INCORPORATIONS @
New incorporations (50 States and Dist. Col.):
Unadjusted
:
number ..
Seasonally adjusted
do
685,572
463 934
443,957
463 934
443,957
474 304
454,056
480 632
460,302
488 259
467,347
493 060
472,295
490 531
469,868
491 250
470,213
496 816
475,754
492 888
471,779
493 140
472,195
19,977
19,977
20,248
20,330
20,912
20,765
20,663
21,037
21,062
21,109
20,945
492,279 r499,483
472,112 '479,895
512,292
492,811
19,588
19,481
20,167
r
468,860
468,860
473,450
476,403
481,366
487,231
487,913
491,834
496,359
495,002
495,794
497,866 504,750
517,194
447 868
25 737
10,903
447 868
25 737
10,903
452 769
25 947
11,521
455 952
25 996
11,553
460 897
25*504
11,085
466 938
25 883
10,698
467 500
26 114
10,520
470 917
25 705
10,086
475 834
25 115
9,655
474 253
24 151
9,117
475 087
23 572
8,795
475
477 509 r484
22775 r 22 525
'8,593
8,718
496 728
22391
8,628
12,591
28 406
59,963
93,498
212 120
12,591
28406
59,963
93,498
212 120
12,121
28 191
60,856
93,267
216419
12,106
28524
60,838
93,615
219 102
12,075
28299
61,145
92,346
225 854
12,781
28037
61,822
91,937
231 427
13,140
27459
61,857
90,662
233 720
13,190
27567
62,647
90,416
237 131
13,059
26995
61,978
90,625
244 047
12,634
26210
61,779
89,985
245 266
12,431
25960
62,088
90,571
245 654
11,737 11,611
25,852 rr25,538
61,579 r61,900
90,772 92,387
249 020 r254 657
11,426
25,543
61,548
94,442
264,918
174 722
174 722
179 176
181,110
187,793
193 939
196,185
198,610
206,512
208,617
209,565
212,498 '218,199
227,026
20992
20992
20681
20451
20469
20293
20413
20917
20525
20749
20707
20,357
8 387
836
8 387
836
8736
786
8 585
755
8 450
731
8 533
687
8 234
921
8 124
1 004
8 151
920
8 097
949
8 263
913
8493
914
286 731
8 888
286 731
8888
290 025
8840
293 375
8 827
297 284
8 818
302 675
8 640
304 197
8395
308 388
8 294
310782 310 586
7 972
8 115
311 763
7 817
r
20,275
r
20,466
8564
'927
9007
872
313753 r319 075
7697
7 672
330 662
7683
15,541
15,541
15,314
15,094
14,949
14,842
14,806
14,670
14,351
13,789
13,872
13,665
14,019
148 477
148 477
149 749
149 767
151 134
151 854
151 360
151 354
154 040
153 609
153 166
153 244 154 822
154 951
6 122
345 037
179 640
165,397
6 122
345 037
179 640
165,397
6 395
350 144
186 662
163,482
6 253
353 634
190 396
163,238
6092
359 704
194 454
165,250
6 234
365 412
200 244
165,168
5925
367 050
203 007
164,043
5817
371 150
207 394
163,756
5913
377 765
214 576
163,189
5908
377*769
215 560
162,209
6043
378 787
215 171
163,616
r
6 154
6 157
381 909 r389 202
216 975 r221 754
164,934 167,448
6292
400 944
233 271
167,673
684,109
58,165
58 516
58,031
58499
55,905
58724
68,311
60 133
55,411
55 245
62,242
57738
61,041
57 586
51,373
54 478
56,755
56 642
51,014
54 502
INDUSTRIAL AND COMMERCIAL
FAILURES @
Failures, total
number .. 61,384
4,276
3,894
4,663
57,093
Commercial service
do
1650
1 752
1 316
22756
23928
Construction....
do
6775
566
514
6811
583
Manufacturing and mining
do
4912
359
288
4 703
399
Retail trade
do
890
889
11 485
12272
938
Wholesale trade
do ....
270
4,353
338
311
4,451
Liabilities (current) total
mil $ 34 8182 35 892 7 2 026 8 2 100 0 2316 1
Commercial service
do
7 761 2 7 944 4
376 2
480 3
3183
Construction . .
do
2359 8 1 853 9
94 8
103 6
989
Manufacturing and mining
do
4 074 3 4 5027
2647
317 4
391 1
Retail trade
do
2 734 7 3 991 3
161 3
140 6
161 6
94 i
Wholesale trade
do
1 534 1 20720
104 6
49 4
Failure annual rate
No. per 10,000 concerns..
102.0
98.0
3,679
4,180
4,406
3,926
4,783
1281
1 441
1 655
1 411
1 732
539
586
573
538
649
300
321
357
288
379
820
962
948
814
1 080
236
304
304
315
380
2 948 0 6 145 6 1 873 2 2 igg o 4 073 4
428 8
413 2
441 5
435 0 1 076 8
141 9
100 9
141 1
129 3
2627
2909
3127
2340
3269
1664
235 2
259 8
139 5
200 4
149 7
59 o
106 2
77 6
81 1
63 2
13,790
53,175
53 282
50,440
55982
4,226
3,676
4,231
1,299
1230
1 394
607
532
628
387
336
387
968
832
920
319
275
314
2 960 0 1 751 2 2 223 9
487 4
453 6
596 8
2257
1697
1889
1599
259 8
2648
229 9
201 1
1 091 6
93 9
456
862
3,989
1,325
530
380
832
287
20008
5660
1150
185.9
1587
104 9
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS t
Prices received, all farm products
1910-14 = 100..
Crops #
..
do
Commercial vegetables
do
Cotton
do
Feed grains and hay
do....
Food grains .
do
Fruit
do
Tobacco
do
Livestock and products #
do....
Dairy products
do....
Meat animals
do
Poultry and eggs
do....
Prices paid:
Production items
do
All commodities and services, interest, taxes,
and wage rates (parity index)
1910-14-100..
Parity ratio §
do
r
579
460
r
726
503
268
282
r
673
1 289
703
764
921
244
r
r
633
'547
r
716
r
485
378
378
r
683
1 336
721
746
949
269
849
908
1,110
52
1,165
54
112.5
117.0
r
r
r
r
608
r
940
r
462
r
431
r
440
r
660
584
r
718
r
467
r
422
r
433
r
700
1 260
739
826
939
288
683
678
1 242
762
820
983
294
r
r
55
r
678
598
r
853
r
446
r
430
r
442
r
686
1 232
762
801
992
292
r
r
r
r
rg08
r
871
r
496
r
682
594
r
765
r
469
436
445
r
641
1 227
773
777
991
343
436
442
r
667
1 230
742
752
957
316
r
671
r
r
r
592
r
755
r
r
679
610
r
778
r
492
436
r
441
r
751
1 230
752
746
966
335
483
415
1-426
r
743
1 230
754
752
972
328
673
592
835
rgQg
398
421
r
658
1 392
757
771
980
314
r
661
1-554
1-698
r
508
r
379
417
r
675
1 377
773
807
996
316
r
656
1-547
1-663
r
540
378
416
r
736
1 441
769
856
968
316
1-959
57
1227
r
55
120.8
121.8
122.5
124 1
124 4
124 6
125 0
1220
123 9
122.6
1220
124 2
122.9
1220
124 3
123.0
1226
124 8
123.4
56
55
r
r
r
r
555
r
r
551
r
742
r
519
r
375
r
420
1-673
1 400
r
817
r
985
1017
309
700
585
1,245
508
374
424
609
1398
820
985
1,018
316
955
974
1,224
54
56
1,241
56
662
r
552
r
714
r
555
371
418
r
771
1 416
778
899
984
293
672
691
1-552
373
411
r
771
1 398
794
948
988
306
681
r
959
r
56
r
1220
55
949
1,207
57
674
54
53
55
CONSUMER PRICES 0
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
ALL ITEMS, WAGE EARNERS AND
CLERICAL WORKERS (CPI-W)... 1982-84 = 100 ..
ALL ITEMS, ALL URBAN CONSUMERS
(CPI-U)
1982-84-100
Special group indexes:
All items less shelter
do
All items less food
do
All items less medical care
do....
See footnotes at end of tables
120.2
119.2
119.7
121 6
1223
123 1
123 8
1192
121 3
120.1
1199
1220
120.8
121 0
122 9
121.7
121 7
123 5
122.3
113 6
118 3
120 5
121 1
111 6
113 6
112.6
1159
1183
117.0
118 1
120 4
119.1
1187
120 8
119.7
122.8
123.2
123.2
123.6
124.4
124.6
125.9
125 6
125 9
1261
1274
1231
1254
124.0
1233
1256
124.2
123.5
1258
124.4
125.0
1267
125.7
124.2
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
February 1990
1990
1989
1988
Annual
I T .,
Unlts
1987
1988
Jan.
Dec.
Mar.
Feb.
May
Apr.
June
Sept.
Aug.
July
Jan.
Dec.
Nov.
Oct.
COMMODITY PRICES—Continued
CONSUMER PRICES t— Continued
(U.S. Department of Labor Indexes)— Continued
Not Seasonally Adjusted
All items (CPI-U)— Continued
Commodities
1982-84 = 100..
Nondurables
do
Nondurables less food
do....
Durables
do
Commodities less food
do....
Services
do
Food #
do....
Food at home
do....
Housing
do
Shelter #
do
Rent, residential
do ....
Homeowners' cost
12/82=100..
Fuel and other utilities #
1982-84 = 100..
Fuel oil and other household
fuel commodities
do....
Gas (piped) and electricity
do....
Household furnishings and operation
do....
Apparel and upkeep
do....
Transportation
do ....
Private
do....
New cars
do....
Used cars
do ....
Public
do....
Medical care
.
...
do
125.7
118.2
116.6
118.5
127 1
127.8
131.1
104.4
113.5
1139
107.5
112.2
109^4
128.1
120.7
119.1
120.2
1293
130.1
134.0
105.0
113.9
114 3
107.1
112.5
109.2
128.9
122.2
121.2
120.7
1298
130.5
134.4
106.0
114.3
114.9
107.6
112 4
109.5
129.4
122.9
122.0
121.1
1303
130.9
134.7
105.9
115.2
116.2
109.4
111.9
110.5
130.0
123.5
122.7
121.5
131.2
131.1
135.0
105.9
116.7
118.4
112.8
111 8
112.5
130.2
124.2
123.5
121.6
131.2
131.4
135.4
106.2
117.5
119.3
113.9
111 9
113.2
130.8
124.9
124.4
122.1
131.8
131.7
136.2
107.0
117.2
119.0
113.1
112 1
112.8
131.6
125.0
124.3
122.9
132.3
132.3
136.5
109.2
117.0
118.7
112.2
111 9
112.1
132.5
125.5
124.8
123.9
133.6
133.0
137.3
109.7
116.7
118.4
111.5
111.4
111.6
133.1
125.8
124.9
124.2
134.1
133.5
138.1
109.7
117.3
119.3
112.9
111.3
112.4
133.4
126.1
125.0
124.3
134.1
133.9
138.9
109.7
118.1
120.1
114.1
112.1
113.4
133.7
126.5
125.4
124.4
134.8
134.7
139.7
108.0
118.3
120.0
113.6
113.0
113.4
134.1
126.9
125.8
124.5
135.2
135.2
140.3
107.5
118.2
119.8
112.6
113.5
113.0
134.6
127.4
126.5
124.9
135.6
135.5
140.9
108.4
119.9
122.0
114.2
113.8
114.1
135.4
130.4
131.0
125.9
136.3
135.8
141.1
110.8
77.9
103.8
78.1
104.6
76.8
104.1
80.5
105.1
81.4
104.9
81.5
104.8
82.5
105.0
81.5
106.1
80.2
110.5
79.7
111.1
78.9
111.3
79.3
111.0
82.0
107.6
83.9
106.1
88.7
107.0
113.1
107.5
107.1
110.6
105.4
104.2
114.6
113.1
121.1
130.1
109.4
115.4
108.7
107.6
116.9
118.0
123.3
138.6
110.6
118.0
110.8
109.6
119.1
120.2
126.5
142.3
110.9
115.3
111.1
109.8
119.5
120.5
127.5
143.8
110.9
115.3
111.6
110.3
119.6
120.5
128.1
145.2
110.5
119.3
111.9
110.7
119.6
120.5
128.2
146.1
110.7
120.9
114.6
113.6
119.4
120.7
128.4
146.8
110.8
120.4
116.0
115.0
119.5
121.0
128.9
147.5
111.1
117.8
115.9
114.9
119.1
121.3
129.6
148.5
111.4
115.0
115.4
114.3
118.6
121.1
129.7
149.7
111.4
115.0
114.3
113.1
117.7
120.3
130.1
150.7
111.7
120.0
113.7
112.4
117.0
119.8
130.1
151.7
111.9
122.7
114.5
113.3
118.6
119.7
130.6
152.7
111.9
122.1
115.0
113.7
120.5
120.1
131.3
153.9
111.7
119.2
115.2
113.9
121.8
119.7
131.7
154.4
112.1
116.7
117.2
115.9
122.3
118.9
134.2
155.9
.3
113.5
109.4
121.2
119.8
117.8
110.6
109.5
118.2
128.5
.6
114.3
110.0
122.2
121.0
117.6
111.3
110.2
118.8
129.1
.4
114.8
110.4
122.7
121.5
117.7
112.1
111.0
119.1
129.6
.5
115.3
110.9
123.5
122.5
118.8
112.6
111.5
119.5
130.2
.7
116.6
112.5
124.2
123.2
119.3
115.1
114.2
119.5
130.6
r
.4
117.2
113.0
124.9
124.1
119.5
115.8
115.0
119.5
131.1
.2
117.3
112.9
125.2
124.4
118.9
115.7
114.8
119.3
131.6
r
.3
117.3
112.8
125.6
124.6
118.3
115.3
114.3
118.8
132.3
.0
116.8
111.9
125.9
124.9
116.9
114.2
113.0
118.5
132.7
.2
117.1
112.2
126.3
125.1
118.6
113.9
112.7
118.1
133.0
.5
117.7
112.8
126.8
125.6
119.4
114.5
113.3
118.8
133.6
118.0
112.9
127.4
126.5
119.4
114.6
113.4
119.8
134.2
.4
118.2
113.1
128.0
127.1
119.0
115.0
113.8
120.8
134.9
1.1
120.3
114.9
130.5
130.8
119.0
117.4
116.2
121.6
135.7
109.0
110.5
110.8
111.5
112.3
113.2
112.9
112.8
112.0
112.4
112.7
112.7
113.0
114.9
107.7
1075
101.8
108.2
104^3
120.2
113.5
111.9
114 2
1213
123.1
124.8
103.0
111.5
1118
105.8
110.4
Seasonally Adjusted t
All items, percent change from
previous month.
Commodities....
1982-84=100
Commodities less food
do
Food
do
Food at home
do
Apparel and upkeep
do
Transportation
do
Private
do
New cars ..
do
Services
do....
r
.c
PRODUCER PRICES §
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
All commodities
1982 =
By stage of processing:
Crude materials for further
processing.
..
..
Intermediate materials, supplies, and
components
Finished goods #
Finished consumer goods
Capital equipment
By durability of product:
Durable goods ....
Nondurable goods
Total manufactures
Durable manufactures
Nondurable manufactures
Farm products, processed foods and
feeds
Farm products ...
Foods and feeds, processed
Industrial commodities
Chemicals and allied products
Fuels and related prod., and
power
Furniture and household durables
Hides, skins, and leather products
Lumber and wood products
Machinery and equipment
Metals and metal products
Nonmetallic mineral products
Pulp, paper, and allied products
Rubber and plastics products
Textile products and apparel
Transportation equip #
Motor vehicles and equip
100 ..
102.8
106.9
93.7
96.0
97.3
101.4
101.2
103.2
104.4
106.1
104.1
103.9
101.1
102.3
101.8
102.3
104.0
106.7
do....
do....
do....
do ....
101.5
105.4
103.6
111.7
107.1
108.0
106.2
114.3
109.4
110.0
108.2
116.4
110.6
111.1
109.4
117.1
111.0
111.7
110.1
117.5
111.5
112.1
110.6
117.5
112.4
113.0
111.8
117.6
112.7
114.2
113.2
118.3
112.7
114.3
113.1
118.8
112.5
114.1
112.8
118.7
112.0
113.4
111.9
119.0
112.4
113.6
112.2
118.9
112.3
114.8
113.3
120.3
112.2
114.8
113.2
120.6
112.0
115.3
113.9
120.7
113.4
117.5
116.6
121.1
do....
do....
do....
do....
do....
109.9
97.5
104.4
109.6
99.2
114.7
101.1
109.1
114.1
104.1
117.2
102.8
111.4
116.4
106.4
118.1
104.8
112.5
117.1
107.8
118.3
105.2
112.9
117.4
108.3
118.5
106.1
113.4
117.6
109.2
118.7
107.4
114.4
117.8
110.8
118.9
108.6
115.0
118.1
111.6
119.0
108.2
114.9
118.3
111.3
118.8
108.1
114.7
118.2
110.9
119.0
106.7
114.2
118.4
110.0
119.2
107.2
114.5
118.6
110.4
120.0
107.2
115.2
119.5
110.8
119.9
107.3
115.1
119.4
110.8
119.6
108.0
115.1
119.2
110.9
120.0
110.7
116.5
119.6
113.1
do....
do ....
do....
do....
do...
103.7
95.5
107.9
102.6
106.4
110.0
104.9
112.7
106.3
116.3
112.9
108.9
115.0
108.1
121.7
115.0
112.0
116.6
109.6
123.7
114.6
110.8
116.6
110.1
124.3
116.1
113.8
117.5
110.5
124.5
115.0
111.0
117.2
111.8
124.9
116.8
115.1
117.9
112.4
124.9
115.4
111.8
117.4
112.4
124.1
115.5
110.5
118.1
112.2
123.1
115.0
109.3
117.9
111.4
121.9
114.5
108.0
117.9
111.9
121.4
114.3
106.9
118.1
112.4
121.5
115.4
108.5
119.0
112.2
121.4
116.5
111.1
119.3
112.3
120.9
118.2
114.5
120.2
114.2
120.8
do...
do...
do...
do...
do...
do...
do...
do...
do...
do..
do..
do..
70.2
109.9
120.4
112.8
110.4
1.07.1
110.0
121.8
103.0
105.1
112.5
111.7
66.7
113.1
131.4
118.9
113.2
118.7
111.2
130.4
109.3
109.2
114.3
113.1
65.6
114.5
130.1
119.0
114.8
124.0
111.7
133.5
111.3
110.5
116.3
116.0
68.1
115.0
131.2
120.1
115.6
125.3
111.8
135.1
111.9
111.0
116.8
116.2
68.9
115.3
133.2
122.0
116.0
125.1
111.8
136.3
112.2
111.3
117.1
116.5
69.9
115.7
136.8
123.2
116.3
125.6
112.0
136.9
112.7
111.2
116.8
115.5
74.2
116.2
136.1
125.2
116.5
125.6
112.6
137.4
113.0
111.6
116.4
114.8
76.0
116.5
134.8
126.5
116.9
125.2
112.7
137.8
113.0
111.8
117.2
115.6
75.8
117.0
135.2
127.4
117.3
124.0
112.8
137.9
112.8
112.2
117.6
115.9
75.5
117.5
136.9
128.9
117.8
123.0
112.8
138.0
112.8
112.6
116.9
114.5
72.0
117.9
137.2
129.0
118.0
123.0
112.8
138.4
112.6
112.9
117.1
114.5
73.9
117.9
138.0
129.0
118.2
123.7
112.9
138.6
112.7
113.0
116.6
113.8
73.7
118.0
138.4
130.7
118.3
123.8
112.9
139.1
112.4
113.2
119.9
119.4
73.0
118.0
138.2
129.8
118.6
122.9
113.1
139.2
112.5
113.5
119.9
118.6
74.1
118.2
139.7
128.3
118.9
121.6
113.1
139.3
112.5
113.6
119.8
118.4
80.1
118.7
138.6
129.0
119.5
121.7
113.6
140.1
113.0
114.4
119.8
117.4
102.3
102.3
103.0
104.6
107.1
112.2
114.1
112.5
118.1
109.7
118.7
104.5
120.
112.4
114.7
113.3
119.7
110.
118.7
105.
119.
112.4
114.8
113.3
120.8
109.
118.7
104.
120.
112.3
115.5
114.
121.5
110.5
119.3
105.
120.
113.6
117.6
116.9
124.0
113.4
118.9
109.5
120.9
.87
.79
.86
.79
.851
.785
do
Seasonally Adjusted t
Finished goods, percent change from previous
month
By stage of processing:
Crude materials for further processing
1982 = 100
Intermediate materials, supplies, and
components
do.
Finished goods #
do
Finished consumer goods
do
Foods...
do
Finished goods, exc. foods
do
Durable
do
Nondurable
do
Capital equipment
do
PURCHASING POWER OF THE DOLLAR
As measured by:
Producer prices
1982 = $!. 00
Consumer prices
1982-84 = $! 00
See footnotes at end of tables.
1.1
r
97.9
109.6
110.0
108.3
115.
104.
115.
r
99.0
116.2
.949
.880
.92
.84
.90
.83
r .(
101.9
101.8
103.5
104.5
104.5
103.3
103.5
101.
110.8
111.2
109.6
117.0
106.0
116.1
100.3
116.8
111.2
111.9
110.5
117.9
106.9
116.7
101.4
117.3
111.9
112.4
111.0
118.6
107.3
116.8
102.0
117.5
112.5
113.1
111.9
118.0
109.0
116.4
104.4
117.4
112.6
113.9
112.9
118.6
110.
117.
105.
118.
112.3
114.0
112.8
117.9
110.2
117.7
105.6
118.8
112.1
113.6
112.1
118.1
109.2
117.4
104.3
118.9
111.8
113.3
111.6
118.5
108.
117.8
102.7
119.
.87
.80
.875
.806
.876
.804
.88
.80
.900
.826
89o
.823
.892
.818
.88
.81
r
.880
.800
.87
.79
SURVEY OF CURRENT BUSINESS
February 1990
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
Annual
I T .,
Unlts
1987
S-7
1988
1988
Dec.
1990
1989
Ja,
Feb.
Mar.
Apr.
May
June
July
37,578
29683
18,092
12442
37,948
29,947
18,680
400,091
31,291
18,953
12931
13 015
8,198
1 344
4790
Aug.
Sept.
Oct.
Jan.
Nov.
Dec.
12 358
''36,405
r
28,910
16,880
11899
31,745
25,486
14,186
9,976
9,155
1 677
5,240
r
8,894
1593
r
5,099
8,074
1,550
4,509
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE @
New construction (unadjusted), total
mil. $..
Private, total #
do
Residential
do....
New housing units
do
Nonresidential buildings, except farm and
public utilities, total #
mil. $..
Industrial
do
Commercial
do
Public utilities:
Telecommunications *
do
Public total #
do
Buildings (excl military) #
do
Housing and redevelopment
do
Industrial
do
Military facilities
do....
Highways and streets
do.. .
New construction (seasonally adjusted at
annual rates), total
bil $
Private total #
do
Residential
do...
New housing units
do....
Nonresidential buildings, except farm and
public utilities, total #
bil. $..
Industrial
do....
Commercial
do
Public utilities:
Telecommunications *
do
Public, total #
do....
Buildings (excl military) #
do
Housing and redevelopment
do....
Industrial
do
Military facilities
do....
Highways and streets
do
CONSTRUCTION CONTRACTS
Construction contracts (F.W. Dodge
Division, McGraw-Hill):
Valuation, total
mil. $..
Index (mo data seas adj ) |
|
1982 — 100
Public ownership
mil $
Private ownership
do
By type of building:
Residential
Non-building construction
New construction planning
(Engineering News-Record) §
26,926
22,090
12,496
30,141
25037
14,417
32,210
26288
15,791
35,894
28467
17,103
10 554
9 831
9 217
10 544
11 161
11 799
8,291
1 345
4878
7,481
1 177
4372
7,207
7,953
7,657
8,252
14 930
58 103
1098
4219
1 214
4706
1 232
4 462
1 331
4 832
8,419
1 393
4894
8867
80 924
27 455
1499
1 413
3,579
28,523
810
5 993
2187
130
103
325
1,785
540
5 148
2032
122
59
287
1,350
682
2361
135
106
171
1,757
786
7 427
2497
177
121
323
2,540
766
7 895
2597
175
128
360
2,939
4250
4230
336 3
202.5
143.3
337 7
202.9
145.6
145.3
4168
338 1
202.1
143.2
411 9
332 5
200.7
141.8
4165
330 6
197.0
138.2
98.3
15.0
58 7
100.5
15.9
594
98.6
15.1
587
101.8
15.7
607
96.0
16.2
556
98
88.8
285
1.6
12
3.9
337
82
85.3
278
1.5
.7
3.4
308
80
83.4
299
1.6
1.1
3.4
279
78
78.7
278
1.5
1.5
3.7
261
328 739
198,101
138 947
91,994
13707
55445
97,102
9 194
77 614
25 158
1 519
1457
4,324
25,340
556
4836
2088
136
94
286
1,048
4166
333 2
200.5
642
5 104
2100
122
126
312
1,233
5922
9,166
1 547
5309
39,050
30,084
18,122
12604
r
38,523
30,360
17,956
r
8,949
1615
5 117
699
791
726
8000
2,766
8800
8966
2,844
164
105
266
2,898
2,919
170
122
315
3,407
4125
329 0
194.2
136.5
410.3
328 8
195.2
136.6
416.3
331 9
194.4
135.8
416.2
3296
192.8
134.0
97.5
15.9
568
98.7
16.3
57 4
97.6
16.4
566
101.7
17.5
577
101.1
17.9
57 1
88
79.4
292
1.6
13
2.1
278
89
85.9
299
2.1
14
3.9
274
86
83.5
295
2.1
15
4.3
273
8.5
81.5
301
2.0
1.3
3.2
261
8.3
84.4
306
2.0
1.5
3.8
274
8.4
86.6
309
1.7
2.0
4.9
276
145
166
410
3,266
r
767
8 163
r
2,726
166
r
94
279
3,004
7,494
2,693
6,259
2,561
166
r
97
r
330
r
2,461
156
115
r
r
414.6
r
3235
191.0
134.9
r
785
r
r
193.1
133.9
417.3
3288
192.3
134.9
101.2
17.7
582
101.1
17.8
r
577
r
414.6
3298
ro o
r
84.8
r
31.3
330
1,694
96.7
17.5
551
8.6
r
88.5
r
32.5
r
2.Q
91.1
33.3
1.2
1.9
1.4
3.3
r
261
4.0
r
28.9
4.0
31.6
2.0
1.1
260,730
19,198
15,776
15,086
21,080
21,725
23,796
24,650
22,330
24,128
23,371
165
66448
192 123
166
67 847
192 883
178
4777
14421
172
3723
12053
160
3998
11089
158
6011
15068
175
6042
15684
165
6754
17042
166
6859
17792
168
6,111
16,219
168
6,381
17,747
181
6,725
16,647
22,669
173
6,278
16,391
19,137
158
5,373
13,764
16,629
160
4,586
12,043
do
do
91 361
121 234
45975
90 609
122 000
48 121
6 726
9 007
3 465
6 081
7 515
2 181
5 183
7 137
2766
6 600
10 118
4'361
6 510
10 999
4 216
7 959
11 389
4 448
8 496
11 568
4586
7 976
10318
4036
8626
11 554
3,949
8786
I0il59
4,426
8 533
I0i517
3,619
6778
8^950
3,409
6 167
7,262
3,200
do
267 823
283 448
20652
23659
22688
25083
23972
20155
24319
21,210
25,170
21,042
25,564
23,182
(3)
(3)
94 2
657
100 1
699
858
59 3
117 8
83 5
1294
1004
131 7
101 4
143 2
100 3
1347
980
1224
917
1093
824
130.1
91.2
1 564
1,131
1 659
r
l,188
1 454
r
li026
1r 405
979
1 341
1,028
1 308
977
1r 414
971
1424
1,029
1'r 325
987
1263
969
1,423
1,023
1 518
1,058
1 486
I'i052
1 403
989
1 230
870
1 334
954
1 347
905
1 308
874
1281
906
1328
927
1319
946
1,356
961
CONSTRUCTION COST INDEXES
Dept. of Commerce composite -1:
1982=100 ..
Boeckh indexes:
Average, 20 cities:
Apartments,
hotels,
office
buildings.. . .
1982-100
Commercial and factory buildings
do....
Residences
do
Engineering News-Record:
Building
1967 = 100..
Construction
do....
Federal Highway Adm. — Highway construction:
Composite (avg. for year or qtr.)
1977 = 100 ...
28,166
23018
13,183
409,662
320 106
194,656
139915
258,570
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
thous
Privately owned
do
One-family structures
do
Seasonally adjusted at annual rates: <>
Total privately owned
do
One-family structures
do....
New private housing units authorized by building
permits (17,000 permit-issuing places):
Monthly data are seas. adj. at annual rates:
Total
thous
One-family structures
do....
Manufacturers' shipments of mobile homes:
Unadjusted ....
thous
Seasonally adjusted at annual
rates
do....
See footnotes at end of tables
32,469
26476
14,994
397,720
1 6227
1
1 620 5 1 488 1
1 1464 1 081 3
1 535
1,024
1 456
994
232 8
218 3
r
r
r
73.3
51.8
102.0
69.3
1,347
1,010
1,254
r
911
1,625
1,137
1,342
979
1,376
r
970
1,743
1,002
96.6
71.9
r
14 2
15 3
14 6
18 2
17 1
19 1
189
14 4
19 4
165
17.7
15.1
11.7
r
r
r
r
r
205
r
200
179
194
186
190
189
189
119.5
119.5
120.4
120.4
120.6
120.9
120.6
222
117.1
114.4
116.2
117 3
115.1
1197
1202
118.3
122 3
375.6
409.8
384.6
420.7
387.3
425.2
172.0
184.7
184.1
230
118.6
213
119.8
123 9
121.1
125 6
387.7
425.8
209
120.4
202
119.7
387.3
425.2
192.0
387.7
425.5
388.0
425.7
125.5
125.1
128.7
1248
124.0
1274
124 2
123.5
1267
124 0
121.5
126 3
386.8
425.2
119.5
388.7
427.6
176.7
389.4
428.0
390.6
428.8
394.9
432.5
183.9
126.5
126.0
130.3
125.5
125.2
128.8
395.4
432.5
395.8
433.4
396.6
435.6
2
2
395.7
435.0
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
Annual
,, .,
February 1990
1990
1989
1988
unlls
1987
1988
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Nov.
Oct.
Jan.
Dec.
CONSTRUCTION AND REAL ESTATE— Continued
REAL ESTATE <)
Mortgage applications for new home construction:
FHA applications
thous. units..
Seasonally adiusted annual rates
do....
165.3
104.9
7.2
104
6.4
86
7.3
91
9.9
92
8.3
92
12.4
132
12 2
138
9.9
128
12.5
142
10.4
132
10.9
151
9.5
141
7.6
115
9.0
113
DOMESTIC TRADE
ADVERTISING
Magazine advertising (Leading National
Advertisers):
Cost, total .
Apparel and accessories
Automotive, incl. accessories ..
Building materials
Drugs and toiletries
Foods, soft drinks, confection-
ery
Beer, wine, liquors
Houshold equip., supplies, furnishings
Industrial materials
Soaps, cleansers, etc
Smoking materials
All other
Newspaper advertising expenditures
Advertising Bureau, Inc.): ft
Total....
Classified
National
Retail
mil $
do
do
do
do
do
do
do
do
do
do
do
(Newspaper
mil $
do
do
do
29,412
10,691
3,494
15 227
7,317
2,810
895
3 612
31,197
11,771
3,586
15840
WHOLESALE TRADE t
Merchant wholesalers sales (unadj.),
total
mil $ 1 482 9751 588 330 136 599
Durable goods establishments
do
725 683 '782*744
67 261
Nondurable goods establishments
do.... 757,292 805*586
69338
Merchant wholesalers inventories, book value
(non-LIFO basis),
end of period (unadj.), total
mil $
162 964 178 884 178 884
Durable goods establishments
do
105 145 114 176 114 176
Nondurable goods establishments
do....
57,819
64,708
64,708
3,104
753
3972
745
4 502
131 786
63265
68521
127 414
62003
65*411
148 920
72946
75974
137 567
68 014
69553
148 832
73 231
75601
146 662
72803
73859
134 412
66 904
67,508
148 912
74 373
74,539
142 118
71 887
70,231
152 192 146 818
77 042 '73 599
75,150 r73,219
141 556
68842
72,714
181 054
115 885
65,169
181 481
117*512
63,969
181 246
117 890
63,356
182 305
120 185
62,120
181 114
121 145
59>69
182 346
121 043
61,303
182 771
123 080
59,691
180 360
121 019
59,341
181 925
120 951
60,974
187 550 187 982
122 504 122 334
65,046 '65,648
186,545
148,165
58,971
147,055
58,702
142,630
55,307
150,861
59,946
142,110
55,181
140,220 146,441 174,534 130,030
51,934 '52,284 r57,621 '48,654
9,069
35 242
8,737
35 016
8,187
32874
8,564
36 042
32859
RETAIL TRADE t
All retail stores:
Estimated sales (unadj.), total
mil. $..1,521,417 1,629,150 170,811 122,467 118,891 139,759 137,924
Durable goods stores #
do.... 572,489 628,543
59,847
53,754
53,784
45,146
46,036
Building materials, hardware, garden
supply, and mobile home dealers
mil. $.. 81,549
7,255
88,894
7,865
6,774
5,491
5,880
Automotive dealers
do
334 429 369 028
32 491
33 262
27 201
27 233
28 613
Furniture, home furnishings,
and equipment
do
84 562
7 054
7 505
11 130
92952
7 596
7 840
Nondurable goods stores
do.
76,431
948,928 1,000,607 110,964
84,170
73,745
85,975
General merch. group stores
do.
176,023 183,783
14,657
14,537
11,025
10,954
29,944
Food stores
do
28,373
27,204
314,605 331,892
29,459
26,125
30,888
Gasoline service stations
do.
98,680 101,916
9,113
8,599
7,649
7,985
8,499
Apparel and accessory stores
do.
6,774
5,480
82,028
77,998
6,992
5,103
12,026
Eating and drinking places
do,
147,717 157,504
13,648
13,567
11,885
12,497
13,792
Drug and proprietary stores
do,
58,729
54,958
4,814
5,223
4,778
4,898
6,498
Liquor stores
do
1 499
2 303
19 143
19 458
1 509
1 335
1 425
Estimated sales (seas, adj.), total...
do,
139,356 139,970 139,428 139,516 141,413
r
r
Durable goods stores #
do..
53901
52886
53071
53 607
54 448
Bldg. materials, hardware, garden supr
r
&ly, and mobile home dealers # .. . mil $
7 481
7 228
7 483
l 721
l 785
uilding materials and
r
r
supply stores
do
5 351
5 190
5409
5656
5620
Hardware stores .
do
1 139
1 117
1 184 l'l72
1 149
r
Automotive dealers
do .
31407
30787
30643
32 080 r31 010
Motor vehicle and miscellaneous
r
auto dealers
do....
28,868
28,273
28,174
29,615 r28,529
Auto and home supply
r
r
stores
do. ..
2514
2539
2,469
2465
2481
Furniture, home furnishings,
r
r
and equipment #
do
8195
8329
8287
7994
8293
Furniture, home furnishr
r
ings stores
do....
3,929
4,031
4,137
3,994
3,969
Household appliance, radio, and
TV stores
do....
3.768
3.697
3.665
'3.574
'3.453
See footnotes at end of tables.
7,829
8,320
3,072
7,813
7,923
29 571
r
'7,319
28 275
120 593
65,952
'6,674
'26 281
1
1
5,893
28 988
'7736
'9 015 11 211
'94,157 116,913 1 81,376
'20,124 '30,921 11,668
r
29,721 '32,960 '28,773
1
9,104
'9,366
'9,012
9,819
'5,595
'8,361 12,378
6,834
13,271 13,799 '12,764
14,456
'5,378
'6,948
'5,342
5,172
5,187
5,054
5,178
2268
1 552 1 617
1 610
1 674
1 725
1 675
1 645
142,543 142,500 143,555 144,860 145,293 143,426 144,387 144,058 ' 146,392
53,980 r54,067 '52,924 '54,999
55,861
55,876
54653
54016
54139
8 089
8 308
7 962
89,194
15,489
30,281
9,859
7,056
14,153
88,353
15,219
30,388
87,323
14,166
30,794
28,952
9,887
14,627
4,956
7 611
7593
7605
8489
90,915
15,908
30,651
9,707
7,786
14,850
7731
8 116
8 154
86,929
14,931
29,881
9,072
7,247
13,913
5,055
88,286
15,832
29,191
9,329
7,248
13,961
7583
7481
r
5 291
1221
32972
5306
r
1210
31 173
7,530
'7,340
'7,507
1201
5195
1,165
r
31,092
'30,290
'31,918
'28,362
'27,555
'29,112
5310
5402
5384
5325
1 204
31 172
1 193
31 165
1 208
31 851
5 395
1 215
32724
28,573
28,599
29,268
30,116
30,280
28,520
2,599
2566
2583
2,608
2,692
2,653
r
2,730
2,735
8366
8412
8238
8,365
8319
8,380
'8,404
'8,167
3,948
3,910
3,894
3,967
3,883
3,914
'4,077
3,820
3.853
3.928
3.762
3.791
3.802
3.828
'3.681
3,716
'8,327
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
S-9
SURVEY OF CURRENT BUSINESS
February 1990
Annual
I T n l.,t s
U
1987
1988
1990
1989
1988
Jan.
Dec.
Feb.
Mar.
May
Apr.
June
July
Aug.
Sept.
Oct.
Nov.
Jan.
Dec.
DOMESTIC TRADE—Continued
RETAIL TRADE £— Continued
All retail stores — Continued
Estimated sales (seas, adj.) — Continued
Nondurable goods stores
mil, $..
General merch. group stores
do....
Department stores excluding
leased departments
do
Variety stores
do....
Food stores
.....do....
Grocery stores
...do....
Gasoline service stations
do
Apparel and accessory stores #
do....
Men's and boys' clothing and
furnishings stores
do....
Women's clothing, specialty stores,
and furriers
do
Shoe stores
,
do....
Eating and drinking places
do....
Drug and proprietary stores
do....
Liquor stores
do
Estimated inventories, end of period:
Book value (non-LIFO basis),
(unadjusted) total
mil $
201 799 215 842
Durable goods stores #
do
105716 114 461
Bldg. materials, hardware, garden supply and mobile home dealers
do
14 861
14 126
Automotive dealers
do
60 719
56 596
Furniture, home furnishings,
16 231
18 030
Nondurable goods stores #
do
96 083 101 381
General merch. group stores
do.... 33,478
35,222
Department stores excluding
leased departments
do
28 293
26 510
Food stores
do
21 852
20 521
Apparel
and
accessory
1
stores
do
6 173
15728
Book value (non-LIFO basis),
206 981 221 242
Durable goods stores #
do
106 271 114 994
Bldg. materials, hardware, garden supply, and mobile home dealers
do
15 610
14 823
59 421
55 500
Furniture,
home furn.,
and equip
do....
18,084
16,280
Nondurable goods stores #
do
100710 106 248
General merch group stores
do
38766
36 856
Department stores excluding
leased departments
do
30 989
29 036
Food stores
do
20 362
21 706
Apparel and
accessory
stores
do
17 022
17 522
Firms with 11 or more stores:
Estimated sales (unadj ) total
mil $
567 503 598 623
Durable goods stores
do.... 67,830
74,492
Auto and home supply stores..
do....
7,274
7,624
Nondurable goods stores #
do
499 673 524 131
General merchandise group
stores
do.... 162,306 170,529
Food stores
do
179 202 187 687
Grocery stores
do
176 420 184 820
Apparel and accessory stores
do
41 866
43 888
Eating places
do
37 793
39 302
Drug stores and proprietary
stores
do
32 255
34 515
Estimated sales(sea. adj.), total #
do
Auto and home supply stores
do
Department stores excluding
leased departments
do
Variety stores
do
Grocery stores
do
Apparel and accessory stores
do
Women's clothing, specialty stores,
and furriers
do
Shoe stores
do....
Drug stores and proprietary
stores
do....
'84,908
15,662
r
86,363
15,977
86,357
15,755
86,630
15,746
87,512
15,878
88,404
15,743
88,484
16,025
88,902
16,090
88,984
16,012
89,432
16,320
89,446
16,308
'90,320
16,508
'91,134
16,567
'91,393
16,927
13 155
'687
'27,922
'26,143
r
8 576
'7,059
13 353
'675
'28,895
'27,099
'8 577
'7,196
13 238
654
29,016
27,193
8 633
6,978
13 246
643
29,046
27,156
8 847
6,977
13 400
623
29,243
27,445
9 186
7,248
13208
640
29,606
27,768
9 453
7,287
13 471
660
29,592
27,770
9 369
7,337
13 497
672
29,775
27,946
9 327
7,385
13 444
672
29,895
28,060
9072
7,444
13674
683
29,949
28,137
9054
7,377
13660
718
30,023
28,172
9 146
7,388
13,801
'754
'30,177
'28,286
'9,272
'7,510
13,940
686
'30,347
'28,455
'9,538
'7,413
14,222
766
'811
'782
778
2812
2739
1,288
1,262
13,683 13,673
'5,081
4,904
1 596 1 619
776
2707
1,209
13,677
5,199
1 614
772
2723
1,216
13,581
5,151
1 619
781
2799
1,314
13,567
5,057
1 633
774
2815
1,329
13,648
5,132
1 648
775
2792
1,345
13,676
5,095
1 641
766
2785
1,351
13,734
5,179
1 655
768
779
772
2801
1,340
13,750
5,250
1 649
2,772
1,328
13,858
5,344
1 656
2,788
1,309
13,836
5,360
1 620
215 842
114 461
215 551
114 898
221 571
117 591
226 793
119 414
229 201
120 293
230 642
121 298
230716
121 487
229 497
118 461
229 461
115480
14 861
60719
14 971
61 450
15 647
63 816
16 187
64 733
16 083
65 609
16 262
66 116
16 050
66*260
15 585
63 157
15385
59 130
18 030
101 381
35,222
17 679
100 653
34,682
17 527
103 980
36,823
17 799
107 379
38,828
17 624
108 908
39,711
17 655
109 344
39,505
17 752
109 229
39*204
17 699
111 036
40,230
18 015
113 981
41,658
28 293
21 852
27 726
21*715
29 492
21 658
31 170
21 915
32030
22032
31 913
22 338
31 628
22 464
32257
22404
33 313
22255
2,812
1,308
1,347
13,867 13,717
'5,374
'5,429
1593
'1 615
234 186 '245 722
116 007 120 456
250 831
123 997
15241
'60 416
15 091
63 110
18459 19764
118 179 125266
44,204 '48,198
20070
126 834
49,186
35409
22 552
'38 725
'23 501
40001
24145
19 833
15265
58 508
'20 600
20 518
236 791 '235 326
123 030 120 422
236 690
120 824
15 616
'63 315
15,606
63 278
18,168 18,523
113761 114 904
41 819 '42 213
18,722
115,866
42871
33691
22648
'33 940
'22 984
34633
23,159
18 690
18 588
18 542
18 485
50966
6,393
749
44 573
53 899
6,643
772
47256
51 474
6,331
727
45143
'52 459
'6,404
'758
'46,055
58837
7,264
720
51,573
14,124
16 695
16 462
3 708
3 607
13,066
16 941
16 712
3 496
3712
14,760
16 754
16 521
4*369
3 776
13,785
16 504
16 284
3*962
3 512
14,609
16 241
16012
'3*928
'3572
18,681
16 807
16 565
4626
3,405
3 081
52764
685
3 029
53 073
708
2955
53 286
715
3 089
53 308
704
2 989
53768
716
'3 039
'53 750
'712
3 198
54,240
699
12726
503
16 263
3 988
13 032
525
16 219
3 996
13 030
535
16 352
4 017
12999
529
16 293
4076
13223
533
16 432
4058
13 205
'549
'16 541
'4033
13,314
587
16 665
4,080
16 173
15965
17 323
17 922
18 034
18 003
17 769
18 578
19 344
221 242
114 994
222 584
115704
224 185
116 169
224 693
115 993
226 656
117 093
230 423
118 835
231 762
119 542
232 831
119 864
235 350
121 782
15 610
59 421
15 514
60 123
15 694
60 631
15 685
60 656
15479
62 440
15 667
63739
15613
64 054
15446
64 082
15385
65450
18,084
106 248
38 766
18,151
106 880
38 578
18,182
108016
39 049
18,162
108 700
39 459
17,856
109 563
39 496
17,906
111 588
40 439
17,968
112 220
40 866
18,116
112 967
41 345
18,179
113 568
41 458
30989
21 706
30 875 • 31 275
21 910
21 845
31 645
21 949
31 682
22 221
32 531
22 540
33 015
22508
33 427
22 586
33 380
22668
17 522
17 759
18 177
18 067
18 179
18 427
18 548
18709
74 881
10,383
634
64 498
43 742
5,206
538
38 536
42 223
4,854
503
37 369
50 597
5,790
641
44 807
49 761
6,020
658
43741
52 791
6,663
738
46 128
52 244
6,576
753
45 668
27,994
17 627
17 233
6 678
3 386
10,123
15 636
15 423
2734
3 147
10,218
14 813
14 587
2 625
2 986
13,487
16 649
16 384
3 785
3 502
13,572
15 850
15 632
3 644
3 511
14,331
16 791
16 556
3 812
3 552
4 146
50 802
622
2924
52494
645
2 846
51 858
647
3 110
51 584
650
2 830
52305
649
12 834
547
15 400
3 716
12952
548
16 099
3 884
12791
514
16 083
3779
12790
513
15 953
3 721
12 899
494
16 132
3 952
15 529
66 318
1 480
760
1 545
782
1 472
751
1 474
744
1 555
844
1 596
828
1 554
842
1 552
852
1 553
849
1 531
847
1 546
'830
1 557
850
2,846
3,071
3,159
3,049
3,033
3,081
3,078
3,127
3,175
3,214
'3,243
3,260
'30,220
'28,268
1
9,779
'7,362
'13,919
'5,499
LABOR FORCE, EMPLOYMENT, AND EARNINGS
LABOR FORCE AND POPULATION
Not Seasonally Adjusted
Noninstitutional population, persons 16
years of age and over
thous ..
Labor force @
do
Resident Armed Forces
do
Civilian noninstitutional population
do....
Civilian labor force total
do
Employed
do
Unemployed
do
188,721
126 368
1704
187,017
124 664
118 168
6495
188,865
125 698
1700
187,165
123 998
117 698
6,300
188,990
124 990
1 697
187,293
123 293
116037
7,256
124 148 124,488
66 6
66 4
117,585 117,836
63.0
62.9
3160
3 197
114,388 .114,676
6,652
6,563
124,546
66 5
117,888
63.0
3 197
114,691
6,658
124,397
66 4
117,863
62.9
3 134
114,728
6,535
1362
1 430
186,322
123 378
1 709
184,613
121 669
114 968
6 701
187,098
123 816
1 696
185,402
122 120
115978
6 142
187,340
123 791
1 696
185,644
122 095
114 786
7 309
187,461
123 590
1 684
185,777
121 906
115023
6 883
187,581
123 907
1 684
185,897
122 223
115 844
6 378
187,708
124 260
1 684
186,024
122 576
116 347
6 229
187,854
124 869
1 673
186,181
123 196
117 039
6 156
187,995
127 235
1 666
186,329
125 569
118 719
6 850
188,149
127 904
1 666
186,483
126 238
119 502
6736
188,286
127 132
1 688
186,598
125 444
119 092
6 352
188,428 188,580
125 530 126 125
1 709
1 702
186,726 186,871
123 828 124 416
117 498 118 194
6 222
6 330
do
65 6
659
Employed, total
thous
Employment-population ratio | percent .. 61.5
62.3
Agriculture
thous
3 208
3 169
Nonagriculture
do.... 109,232 111,800
Unemployed, total
do....
Long term, 15 weeks and
over
do
1 983
1 610
122 650
66 2
116 141
62.6
3 192
112,949
6,509
123 265
664
116 640
62.8
3 268
113,372
6,625
123 117
66 3
116757
62.8
3 196
113,561
6,360
123 245
66 3
117047
63.0
3 185
113,862
6,198
123 615
66 5
117 084
62.9
3 144
113,940
6,531
123 551
66 4
117 132
62.9
3 137
113,995
6,419
124 111
66 6
117 542
63.1
3 138
114,404
6,569
124 013
66 5
117 436
63.0
3 217
114,219
6,577
124 070
66 5
117 550
63.0
3 275
114,275
6,520
124 023
66 4
117,419
62.9
3 219
114,200
6,604
1 499
1 300
1 335
1 391
1 331
Seasonally Adjusted <>
Civilian labor force, total
See footnotes at end of tables.
184,490
121 602
1 737
182,753
119 865
112 440
7 425
1 476
1 295
1 461
1 338
1 359
1 378
1 422
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
Annual
February 1990
,, .,
1990
1989
1988
umls
1987
1988
Jan.
Dec.
Feb.
Apr.
Mar.
Nov.
Oct.
Sept.
Aug.
July
June
May
Jan.
Dec.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
LABOR FORCE— Continued
Seasonally Adjusted <}
Civilian labor force— Continued
Unemployed — Continued
Rates(unemployed in each group as percent
of civilian labor force in the group):
All civilian workers
Men, 20 years and over
Women, 20 years and over
Both sexes, 16-19 years
White
Black
Hispanic origin
Married men, spouse present
Married women, spouse present
Women who maintain families
Industry of last job:
Private nonagricultural wage and
salary workers
Construction
Manufacturing
Durable goods
Agricultural wage and salary workers ....
Not Seasonally Adjusted
Occupation:
Managerial and professional specialty
Technical, sales, and administrative
support
Service occupations
Precision production, craft, and repair....
Operators, fabricators, and laborers
Farming, forestry, and fishing
EMPLOYMENT §
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seas, variation
thous..
Private sector (excl. government)
do....
6.2
5.4
5.4
16.9
5.3
13.0
8.8
3.9
4.3
9.2
5.5
4.8
4.9
15.3
4.7
11.7
8.2
3.3
3.9
8.1
5.3
4.6
4.7
14.8
4.6
11.4
7.6
3.1
3.6
8.2
5.4
4.6
4.7
16.1
4.6
11.7
8.2
3.1
3.7
7.9
5.2
4.5
4.6
14.8
4.3
11.6
7.0
3.0
3.4
8.0
5.0
4.2
4.6
14.0
4.3
11.0
6.7
2.9
3.5
7.9
5.3
4.6
4.7
14.6
4.5
11.0
8.2
3.2
4.0
7.8
5.2
4.3
4.7
15.0
4.4
11.1
7.9
2.9
3.8
8.2
5.3
4.4
4.8
15.4
4.5
11.8
8.0
2.9
3.8
7.9
5.3
4.4
4.9
15.1
4.5
11.0
8.8
3.0
3.8
8.5
5.3
4.5
4.7
14.8
4.5
11.2
8.8
3.1
3.9
8.0
5.3
4.8
4.5
15.0
4.5
11.7
8.3
3.3
3.8
7.7
5.3
4.5
4.8
14.9
4.5
11.7
8.0
3.0
3.9
7.8
5.3
4.6
4.8
15.3
4.5
11.9
8.0
3.1
3.8
8.2
5.3
4.6
4.8
15.2
4.6
11.8
8.5
3.0
3.9
8.1
5.3
4.7
4.6
14.5
4.5
11.3
7.1
3.4
3.7
7.5
6.2
11.6
6.0
5.8
10.5
5.5
10.6
5.3
5.0
10.6
5.3
10.3
5.1
4.9
9.0
5.5
10.3
5.2
4.8
9.5
5.2
10.0
4.9
4.5
9.1
5.1
9.6
4.8
4.6
8.9
5.3
9.8
5.0
4.7
9.8
5.2
9.5
4.9
4.6
9.9
5.3
10.0
5.1
4.6
10.4
5.4
10.3
5.1
4.7
8.9
5.4
10.2
5.2
4.9
9.0
5.4
10.1
5.2
4.9
7.8
5.3
9.3
5.4
5.2
9.8
5.4
9.8
5.4
5.4
12.1
5.4
9.8
5.6
5.4
9.7
5.5
9.3
5.9
5.8
9.2
2.3
1.9
1.7
2.1
2.0
1.8
1.8
1.9
2.0
2.2
2.1
2.3
1.9
2.0
1.9
1.9
4.3
7.7
6.1
9.4
7.1
4.0
6.9
5.4
8.4
7.2
3.5
62
5.3
8.2
7.5
4.3
70
6.7
10.0
9.2
4.0
6.3
6.8
9.2
8.5
3.8
59
6.1
8.3
7.9
3.6
7.0
5.6
7.8
6.3
3.9
6.6
5.1
6.9
5.4
3.8
6.9
4.9
7.6
5.1
4.1
6.5
4.0
8.1
4.7
3.9
6.4
4.5
7.5
5.1
4.0
6.5
4.6
7.5
4.6
4.1
6.3
4.5
7.3
6.3
3.8
6.9
4.7
8.0
8.5
3.5
6.4
5.5
8.2
7.3
4.4
6.5
6.5
10.8
8.0
102,200
85,190
105,584
88,212
107,917
90,098
105,915
88,380
106,342
88,463
107,017
89,052
107,944
89,975
108,745
90,715
109,534
91,742
108,540
91,733
108,666
91,973
109,486
91,916
109,975 110,390 110,391 "108,265
91,904 '92,158 '92,216 "90,416
107,097
89,574
69,985
25,513
711
5,213
19,589
11,565
780
532
607
785
1,449
2,126
2,067
2,063
107,442
89,897
70,249
25,626
711
5,267
19,648
11,605
784
532
607
786
1,458
2,134
2,065
2,079
107,711
90,124
70,476
25,629
711
5,270
19,648
11,594
778
534
608
786
1,458
2,138
2,062
2,067
107,888
90,291
70,611
25,646
714
5,252
19,680
11,604
777
535
607
788
1,457
2,143
2,060
2,071
108,101
90,475
70,803
25,671
720
5,279
19,672
11,600
772
537
606
788
1,454
2,144
2,058
2,073
108,310
90,623
70,956
25,672
722
5,283
19,667
11,594
771
534
604
787
1,452
2,150
2,050
2,076
108,607
90,884
71,234
25,648
715
5,283
19,650
11,567
769
534
603
787
1,449
2,151
2,041
2,062
108,767
91,016
71,367
25,669
706
5,314
19,649
11,549
767
536
602
785
1,446
2,154
2,040
2,046
108,887
91,083
71,439
25,694
729
5,321
19,644
11,551
763
529
601
786
1,443
2,152
2,034
2,068
109,096
91,230
71,671
25,614
730
5,325
19,559
11,480
759
528
597
777
1,438
2,147
2,023
2,038
109,171 109,452 109,548 "109,823
91,328 '91,622 '91,685 "91,962
71,791 '72,105 '72,196 "72,585
25,603 '25,609 '25,533 "25,526
"740
'739
737
731
"5,409
'5,305
'5,355
5,335
19,537 19,517 19,489 "19,377
11,457 11,439 11,411 "11,310
"771
'766
'765
764
"521
'523
'525
525
"602
'600
'602
600
"767
'771
772
776
"1,410
1,430
1,427
1,434
"2,142
'2,144
'2,146
2,139
"1,996
1,994
2,012
2,018
"1,929
'2,022
'2,020
2,031
767
389
8,024
1,646
56
724
770
390
8,043
1,650
56
728
772
391
8,054
1,650
56
728
776
390
8,076
1,655
56
729
777
391
8,072
1,657
54
728
778
392
8,073
1,656
53
728
779
392
8,083
1,663
52
729
781
392
8,100
1,678
53
730
782
393
8,093
1,667
52
727
780
393
8,079
1,674
51
723
779
391
8,080
1,676
51
724
778
389
'8,078
1,673
51
'721
'773
'391
'8,078
1,676'
51
'719
"777
"395
"8,067
"1,677
"52
"714
1,090
696
1,588
1,079
162
1,092
696
1,595
1,084
160
1,096
696
1,595
1,085
161
1,101
697
1,600
1,088
161
1,098
696
1,601
1,090
162
1,095
697
1,603
1,094
162
1,093
697
1,607
1,096
163
1,094
701
1,609
1,091
163
1,095
700
1,611
1,097
163
1,088
697
1,612
1,095
163
1,084
697
1,612
1,096
164
1,084
697
1,617
1,098
164
1,079
'699
1,619
1,103
163
"1,074
"700
"1,625
"1,102
"163
840
143
81,584
5,634
6,125
19,328
839
143
81,816
5,654
6,146
19,407
843
144
82,082
5,667
6,171
19,460
845
144
82,242
5,666
6,197
19,488
843
143
82,430
5,682
6,206
19,489
843
142
82,638
5,700
6,222
19,528
841
142
82,959
5,716
6,230
19,551
841
140
83,098
5,736
6,237
19,586
841
140
83,193
5,618
6,256
19,621
837
139
83,482
5,709
6,264
19,632
837
139
83,568
5,729
6,278
19,679
835
138
'83,843
'5,753
'6,300
19,744
'832
137
'84,015
'5,832
'6,308
19,714
"824
"136
"84,297
"5,859
"6,332
"19,831
6,744
26,230
17,523
2,981
4,085
10,457
6,746
26,318
17,545
2,978
4,084
10,483
6,763
26,434
17,587
2,982
4,095
10,510
6,774
26,520
17,597
2,982
4,102
10,513
6,776
26,651
17,626
2,982
4,111
10,533
6,790
26,711
17,687
2,999
4,119
10,569
6,808
26,931
17,723
2,995
4,136
10,592
6,815
26,973
17,751
3,000
4,145
10,606
6,836
27,058
17,804
2,999
4,154
10,651
6,852
27,159
17,866
2,996
4,182
10,688
6,851
27,188
17,843
2,984
4,153
10,706
'6,871
'27,345
17,830
'2,982
'4,162
10,686
'6,882
'27,416
17,863
'2,972
'4,157
10,734
"6,892
"27,522
"17,861
"2,984
"4,145
"10,732
73,029
13,420
71,336
13,312
71,391
13,318
71,923
13,348
72,751
13,362
73,428
13,390
74,343
13,487
74,324
13,296
74,547
13,452
74,475
13,474
74,477
13,409
'74,695
13,365
'74,720
13,289
"72,944
"13,039
72,949
18,048
510
4,112
13,426
7,749
648
427
73,101
18,052
514
4,096
13,442
7,749
646
428
73,204
18,053
519
4,104
13,430
7,744
642
428
73,315
18,058
521
4,111
13,426
7,735
641
427
73,555
18,022
511
4,111
13,400
7,706
638
426
73,670
18,047
503
4,134
13,410
7,697
636
427
73,741
18,071
525
4,145
13,401
7,696
633
421
73,837
17,987
525
4,143
13,319
7,632
629
420
73,897
17,978
527
4,144
13,307
7,615
633
418
'74,174
17,975
'530
'4,169
13,276
'7,594
'633
'417
'74,198
17,902
'530
'4,114
13,258
'7,580
'632
'416
"74,433
"17,916
"531
"4,234
"13,151
"7,479
"638
"413
Seasonally Adjusted
Total employees, nonagricultural
payrolls
do.... 102,200 105,584
88,212
Private sector (excl. government)
do.... 85,190
68,809
Nonmanufacturing industries
do ....
66,166
25,249
24,708
Goods-producing
do ....
721
717
Mining
do....
5,125
4,967
Construction
do ....
19,403
19,024
Manufacturing
do ....
11,437
11,194
Durable goods
do....
741
Lumber and wood products
do....
765
530
516
Furniture and fixtures
do....
600
Stone, clay and glass products
do....
586
774
Primary metal industries
do....
747
Fabricated metal products
do....
1,431
1,401
2082
Machinery, except electrical
do....
2,008
2,070
2,069
Electric and electronic equip
do....
Transportation equipment
do....
2,051
2,051
Instruments and related
749
706
products
do....
Miscellaneous manufacturing
do....
371
386
7,967
7,830
Nondurable goods
do....
Food and kindred products
do....
1,636
1,620
Tobacco manufactures
do....
56
55
Textile mill products
do....
729
726
Apparel and other textile
products
do....
1,092
1,099
Paper and allied products
do....
693
680
Printing and publishing
do....
1,561
1,506
Chemicals and allied products
do....
1,065
1,026
Petroleum and coal products
do....
162
164
Rubber and plastics prod829
811
ucts, nee
do....
144
Leather and leather products
do....
143
Service-producing
do.... 77,492
80,335
Transportation and public utilities
do....
5,548
5,372
5,844
Wholesale trade
do ...
6,029
19,110
Retail trade
do...
18,483
Finance, insurance, and real
6,676
6,547
estate....
do...
Services...
do...
25,600
24,236
Government
do...
17;372
17,010
2,971
Federal.
do...
2,943
State
do...
4,063
3,967
10,339
10,100
Local
do...
Production or nonsupervisory workers on private
nonagric. payrolls, not seas, adjusted
thous.
71,413
68,976
13,254
Manufacturing
do
12,970
Seasonally Adjusted
Production or nonsupervisory workers on private
nonagricultural payrolls
thous.
Goods-producing
do
Mining
do
Construction
do
Manufacturing
do...
Durable goods
do
Lumber and wood products
do
Furniture and fixtures
do...
Stone, clay, and glass
products
do
Primary metal industries
do...
Fabricated metal products
do...
Machinery, except electrical
do...
Electric and electronic equip
do...
Transportation equipment
do...
Instruments and related
products
do...
Miscellaneous manufacturing
do...
68,976
17,358
511
3877
12,970
7,439
'620
413
71,413
17,775
519
4002
13,254
7,635
637
423
72,494
17,963
4 068
13,385
7 730
'647
426
72,774
18,065
510
4132
13,423
7,758
652
426
453
563
1,039
1,191
1,214
1,292
466
592
1,067
1,252
1,224
1,281
472
602
1,082
1,285
1,224
1,285
473
603
1,089
1,292
1,222
1,294
474
602
1,087
1,298
1,218
1,286
472
603
1,086
1,298
1,214
1,292
471
603
1,080
1,298
1,213
1,297
469
601
1,079
1,302
1,205
1,297
468
602
1,074
1,303
1,198
1,284
468
601
1,073
1,309
1,199
1,270
467
600
1,069
1,304
1,195
1,291
463
59?
1,062
1,299
1,189
1,262
466
590
1,061
1,293
1,184
1,255
'467
'586
1,056
1,300
1,181
1,243
'465
586
1,056
1,300
1,171
1,242
"468
"582
"1,039
"1,298
"1,176
"1,145
384
270
412
281
425
282
424
283
425
284
427
283
428
284
430
284
429
284
431
283
430
286
431
284
431
284
'429
282
'427
'285
"430
"290
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
S-ll
SURVEY OF CURRENT BUSINESS
February 1990
Annual
„ -..
1988
1990
1989
Unlts
1987
1988
Dec.
Jan.
Feb.
Mar.'
May
Apr.
June
July
Sept.
Aug.
Oct.
Nov.
Dec.
.,an.
•
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT §— Continued
Seasonally Adjusted
Production or nonsupervisory workers — Continued
Nondurable goods
thous ..
Food and kindred products
do....
Tobacco manufactures
do....
Textile mill products
do.....
Apparel and other textile
products
,
do....
Paper and allied products
do
Printing and publishing
do;....
Chemicals and allied products
....do....
Petroleum and coal products
do ....
Rubber and plastics products, nee
do
Leather and leather products
do....
Service-producing
do
Transportation and public utilities
do....
Wholesale trade
do
Retail trade
do
Finance, insurance, and real
estate.
do
Services
do....
5,531
1,148
42
630
5,619
1,163
42
632
5,655
1,172
42
628
5,665
1,175
41
630
5,677
1,177
41
630
5,693
1,182
41
630
5,686
1,184
40
630
5,691
1,184
38
630
5,694
1,190
38
630
5,7.13
1,205
39
631
5,705
1,197
39
627
5,687
1,203
38
623
5,692
1,205
38
625
5,682
'1,200
38
622
'5,678
1,202
38
'621
"5,672
'1,206
"39
"615
923
516
841
575
107
919
524
874
596
105
919
525
886
604
105
922
524
887
607
104
926
524
888
608
105
930
525
891
610
105
927
524
889
609
105
925
525
891
614
106
922
525
892
616
107
922
528
893
614
107
922
528
894
617
107
917
524
892
614
107
914
526
892
617
107
913
526
896
'617
107
'908
'527
r
898
'619
106
"904
"529
"901
"619
"105
629
120
51 618
4,455
4 682
16431
646
119
53637
4,610
4854
16 936
656
118
54531
4,691
4931
17'l06
656
119
54709
4,704
4948
17 171
659
119
54901
4,718
4970
17'215
660
119
55049
4,718
4990
17 244
660
118
55151
4,735
4996
1?'235
660
118
55,257
4,752
5007
17 280
656
118
55,533
4,763
5016
17 317
657
117
55 623
4,779
5021
17338
658
116
55,670
4,665
5 038
17388
653
116
55,850
4,758
5037
17391
653
115
55,919
4,782
5 053
17 383
649
114
'56,199
'4,800
r
5066
17,490
"641
'646
"113
113
'56,296 "56,517
"4,898
'4,878
'5 069 "5,095
17,453 "17,547
4808
21,242
4849
22,389
4879
22,924
4886
23,000
4893
23,105
4900
23,197
4902
23,283
4,918
23,300
4933
23,504
4944
23,541
4,954
23,625
4,969
23,695
4,972
23,729
'4,985
'23,858
4,987
'23,909
348
347
42 4
37 8
423
37 9
349
347
428
37 3
345
348
42 2
36 5
343
346
41 7
362
344
347
420
374
348
349
428
379
345
34.6
420
377
348
34.6
426
380
351
34.8
425
389
349
34.6
432
390
34.7
34.7
43 7
386
34.8
34.7
439
392
34.5
34.6
43.6
'38.1
34.6
34.5
'43.8
'37.0
"34.2
"34.6
"44.0
"37.7
410
41 1
41 0
41 1
3.9
418
41
403
39.8
42 5
43.6
419
425
408
41.1
3.9
418
41
39.6
39.7
422
43.4
419
426
410
41.0
4.0
417
41
400
39.8
42 2
43.5
418
425
410
41.3
3.9
419
41
405
39.9
42 5
43.3
419
427
40.9
41.0
3.8
415
39
39.7
39.4
419
43.2
417
425
41.1
41.0
3.8
415
39
39.8
39.4
422
43.3
415
425
40.5
41.0
3.9
415
4.0
39.6
39.5
423
43.0
415
424
40.8
41.0
40.9
40.8
3.7
41.2
r
416
3.9
40.2
39.6
425
42.9
415
42.2
41.2
41.0
3.8
416
3.9
40.2
39.6
422
428
41.6
42.3
40.4
39.2
423
42.5
41.5
42.0
41.1
40.7
3.7
41.2
3.7
r
40.3
'39.4
r
42.4
'42.6
41.4
42.1
41.3
40.7
'3.6
41.2
'3.6
'40.1
39.1
'41.6
42.5
'41.2
'420
"40.6
"40.7
"3.6
"41.3
"3.7
"40.2
"39.5
"42.2
"42.6
"41.4
"42.0
"4,998
"23,979
AVERAGE HOURS PER WEEK §
Seasonally Adjusted
Avg. weekly hours per worker on private nonag.
payrolls: 0
Not seasonally adjusted
hours
Seasonally adjusted . .
do
Mining "|"
do
Construction "j"
do
Manufacturing:
Not seasonally adjusted ..
do
Seasonally adjusted
do
Overtime hours
do....
Durable goods
do
Overtime hours
.
do
Lumber and wood products.
do
Furniture and fixtures
do....
Stone clay and glass products
do
Primary metal industries
do....
Fabricated metal products .
do
Machinery, except electrical . .
do
Electric
and
electronic
equip.
do
Transportation equipment
do
Instruments
and related
products
do .
Miscellaneous manufacturing
do
Nondurable goods
do
Overtime hours
do....
Food and kindred products
do....
Tobacco manufactures "f
do
Textile mill products
do
Apparel and other textile
products
do
Paper and allied products
do
Printing and publishing
do
Chemicals and allied products
do....
Petroleum and coal products $
do
Rubber and plastics products, nee
.. . .
do
Leather and leather products
do....
Transportation and public utilities
do
Wholesale trade. . . .
do
Retail trade
do
Finance, insurance, and real
estate ."j:
do
Services
do
AGGREGATE EMPLOYEE-HOURS §
Seasonally Adjusted
Employee-hours, wage & salary workers in nonagric. establish, for 1 week in the month,
seas adj. at annual rate
bil. hours..
Total private sector
do
Mining
do
Construction
do
Manufacturing
do
Transportation and public utilities
do
Wholesale trade
do
Retail trade
do
Finance, insurance, and real
estate
do
Services
do
Government
do
Indexes of employee-hours (aggregate weekly): (>
Private nonagric. payrolls, total
1977 = 100
Goods-producing
do
Mining
do
Construction
do
Manufacturing
do
Durable goods
do
Nondurable goods
do,
Service-producing
do
Transportation and public
utilities
do
Wholesale trade
do
Retail trade
do
Finance, insurance, and real
estate
do
Services
do
See footnotes at end of tables.
r
3.7
41 5
38
406
40.0
423
43.1
416
422
3.9
418
41
403
39.4
423
43.6
419
426
417
410
3.9
417
41
403
39.4
424
43.5
418
425
40 9
42 0
41 0
427
40 8
428
409
428
40 9
43 1
40 6
43 1
41 0
428
40 7
425
407
425
406
426
409
427
41 1
428
409
41.2
40.8
40.9
40.6
'41.9
"40.7
"41.5
414
39 4
40 2
3.6
40.2
39 0
418
41.5
39 2
40 1
3.7
40.3
39 8
41 1
41.1
39 0
400
3.6
40.2
399
405
41 5
394
401
3.6
40.1
380
409
415
39 5
402
3.7
40.3
37 8
40 8
41 1
39 5
40 1
3.8
40,4
36 3
41 1
415
39 8
404
3.8
40.7
38 1
417
41.1
39 6
402
3.7
40.5
39 5
41 4
41.3
39 4
403
3.6
40.7
40 1
41 4
41.4
393
402
3.8
41.0
379
412
41.1
394
40.2
3.6
40.8
373
41.0
41.0
392
40.2
3.7
41.0
403
40.6
41.1
393
40.2
3.7
40.8
40.2
40.7
r
41.0
r
39.7
40.1
3.6
40.8
39.0
'40.5
41.0
'39.3
39.9
3.6
'40.7
'37.8
40.3
"41.1
"39.5
"40.0
"3.5
"40.4
"37.4
"40.2
37 0
434
380
42.3
44 0
37 0
432
380
42.3
44 4
36 8
432
37 8
42.3
443
37 0
431
38 0
42.3
43 5
37 1
43 2
38 0
42.3
440
369
433
37 9
42.3
43 2
37 6
434
37 9
42.6
44 3
37 1
433
37 7
42.1
43 9
37 1
433
37 8
42.5
446
370
43.2
37 6
42.5
443
370
43.5
377
42.4
437
370
43.2
379
42.5
444
369
43.4
378
42.4
45.1
'36.8
43.4
37.9
'42.3
'44.7
36.3
'43.1
37.7
'42.7
'46.2
"36.6
"43.3
"37 9
"42.4
"46.8
41 6
38.2
39 2
38 1
29 2
41 7
37.5
39 3
38 1
29 1
41 4
37.7
394
38 1
291
41 7
38.0
39 6
38 1
29 1
41 7
38.6
39 4
38 1
28 9
41 6
38.0
394
38 1
289
41 6
38.3
40 1
38 3
29 1
41 5
37.4
39 5
37 9
289
41 5
37,9
394
38 0
289
41 4
37.7
39 4
381
292
41 5
38.1
39 0
380
288
415
38.1
393
381
288
414
37.7
393
38.1
290
'41.2
'37,5
39.1
38.1
28.8
'40.7
'37.2
'39.2
38.0
'28.7
"40.8
"37.2
"38.9
"38.0
"29.0
36 3
32 5
35 9
32 6
358
327
36 1
327
35 8
32 5
358
32 6
36 3
328
35 6
32 5
358
32 5
363
328
35.8
326
35.7
327
36.1
32.8
35.7
32.6
'35.7
32.6
"35.7
"32.5
189.93
15632
1.58
9.76
40.53
10.96
11.60
28.07
196.51
161 73
1.58
10.10
41.42
11.36
11.95
28.92
199.16
164 08
1.56
10.27
41.72
11.56
12.11
29.30
200.31
164 99
1.56
10.29
41.93
11.64
12.16
29.44
200.32
16472
1.55
10.32
41.95
11.63
12.23
29.24
200.33
165 01
1.57
10.34
41.91
11.62
12.28
29.29
202.10
166 62
1.61
10.41
42.08
11.81
12.37
29.47
200.85
165 17
1.57
10.21
41.88
11.71
12.24
29.32
201.37
165 96
1.57
10.32
41.91
11.77
12.31
29.35
202.54
167 18
1.55
10.53
41.86
11.80
12.39
29.73
201.67
166 29
1.63
10.56
41.88
11.42
12.36
29.39
202.73
16663
1.66
10.47
41.71
11.68
12.39
29.47
'203.33
167 38
1.66
10.61
'41.50
11.73
12.46
29.62
r
204.91
167.32
1.67
10.80
'41.47
11.72
12.46
'29.57
'202 73
166.87
1.66
10.38
41.31
11.87
12.48
'29.48
"203.76
"167.84
"1.69
"10.91
"41.09
"11.88
"12.50
"29.99
12.37
41.45
33.61
12.50
43.90
34.78
12.58
44.97
35.08
12.69
45.28
35.32
12.61
45.20
35.60
12.62
45.38
35.32
12.79
46.09
35.49
12.59
45.65
35.68
12.71
46.04
35.41
12.88
46.44
35.36
12.75
46.30
35.38
12.72
46.53
36.10
12.88
46.92
35.95
12.77
'46.85
'37.59
12.79
'46.92
35.86
"12.79
"46.99
"35.92
120.7
98.9
80.8
132.7
93.2
90.7
96.9
132.8
124.9
101.5
81.8
137.5
95.5
93.6
98.3
137.8
126.8
102.3
80.2
139.4
96.2
94.6
98.4
140.3
127.4
103.0
79.9
141.2
96.7
95.2
98.9
140.9
127.2
102.9
80.1
140.5
96.7
95.0
99.3
140.6
127.6
102.9
81.1
140.3
96.7
94.9
99.5
141.2
128.7
103.5
83.4
141.0
97.2
95.2
100.1
142.6
127.6
102.4
81.8
138.2
96.4
94.3
99.5
141.5
128.1
102.5
81.2
139.3
96.4
94.0
99.9
142.2
129.2
103.0
80.3
142.7
96.3
93.8
100.1
143.7
128.5
103.3
84.4
143.5
96.4
94.0
99.9
142.4
128.9
102.8
85.3
143.1
95.8
93.3
99.7
143.3
129.2
102.4
85.5
143.8
95.2
92.2
99.6
144.0
129.1
102.5
'86.2
145.8
'94.8
91.9
r
99.2
143.9
128.8
101.2
'85.4
139.4
'94.5
'91.7
'98.7
144.0
"129.6
"102.3
"86.9
"149.7
"93.9
"90.6
"98.7
"144.7
109.0
118.7
122.4
113.2
122.8
125.5
115.5
124.9
126.7
116.4
125.3
127,2
116.2
125.9
126.7
116.2
126.4
126.9
118.6
127.2
127.7
117.3
126.1
127.2
117.3
126.7
127.4
117.7
127.2
128.9
113.7
127.3
127.5
116.8
127.6
127.5
117.4
128.0
128.4
117.3
128.3
128.3
119.5
128.0
127.5
"119.1
"128.7
"129.6
140.9
152.8
140.9
161.5
141.2
165.8
142.1
166.4
140.8
166.1
141.8
167.3
143.8
168.9
141.9
167.5
142.7
169,0
145.0
170.8
143.3
170.4
1.43.8
171.4
145.0
172.2
143.8
172.0
143.9
172.4
"143.8
"172.4
qQ
o.o
0 0
S-12
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
methodological notes are as shown in
BUSINESS STATISTICS: 1986
Ann ual
February 1990
1990
1989
1988
Units
y
ept.
y
Dec
Jan
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS §
Average hourly earnings per worker: 0
Not seasonally adjusted:
Private nonagric. payrolls
dollars..
Mining .
do
Construction .
do
Manufacturing
do....
Excluding overtime
do....
Durable goods
do
Excluding overtime
do
Lumber and wood products
do....
Furniture and fixtures....
do....
Stone, clay, and glass products
do,...
Primary metal industries
do....
Fabricated metal products
do
Machinery, except electrical
do
Electric and electronic
equip
do....
Transportation equipment
do....
Instruments and related
products
do
Miscellaneous manufacturing
do
Nondurable goods
do....
Excluding overtime
do....
Food and kindred products
do
Tobacco manufactures
do
Textile mill products
do....
Apparel and other textile
products
do
Paper and allied products
do
Printing and publishing
do....
Chemicals and allied products
do....
Petroleum and coal products
do
Rubber and plastics products, nee
do....
Leather and leather products
do....
Transportation and public utilities
do....
Wholesale trade
do....
Retail trade .
.
do
Finance, insurance, and real
estate
do
Services
do
Seasonally adjusted:
Private nonagricultural payrolls
dollars..
Mining
do....
Construction
do
Manufacturing
do .
Transportation and public utilities
do ....
Wholesale trade
do
Retail trade
do
Finance, insurance, and real
estate. .
do
Services
do ....
Indexes of avg. hourly earnings, seas, adj.: <>
Private nonfarm economy:
Current dollars
1977 = 100 ..
1977 dollars t
do
Mining :!::!:
.
do
Construction
.
do
Manufacturing
do
Transportation and public utilities
do ....
Wholesale trade ft
do
Retail trade
do
Finance, insurance, and real
estate jt
do
Services
do
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (ENR): §§
Common labor
$ per hr
Skilled labor
do...
Railroad wages (average, class I)
do...
Avg. weekly earnings per worker,
private nonfarm: <£>
Current dollars seasonally adjusted
1977 dollars, seasonally adjusted t
Current dollars, not seasonally adjusted:
Private nonfarm, total
dollars.
Mining
do
Construction
do
Manufacturing
do ...
Durable goods
do
Nondurable goods
do
Transportation and public
utilities
do
Wholesale trade
do
Retail trade
do
Finance, insurance, and real
estate
do
Services
do
8.98
12 54
1271
9.91
9.48
10 44
9 98
8.40
7.67
10.25
11.94
10 00
1072
9.29
1275
13 01
10.18
9.72
1071
10 21
8.61
7.94
10.47
12.15
10 26
11 01
9.46
13 03
13 19
10.37
9.88
1090
10 36
8.76
8.06
10.57
12.26
10 44
1124
9.54
13 20
13 26
10.37
9.91
10 90
10 40
8.71
8.10
10.59
12.27
10 45
11 21
9.55
13 22
13 21
10.38
9.92
1091
10 41
8.69
8.08
10.62
12.27
10 46
1123
9.56
13 15
1326
10.41
9.94
1093
1043
8.68
8.13
10.62
12.27
1047
1125
9.62
13 19
1330
10.41
9.95
10 93
1044
8.76
8.12
10.71
12.26
1048
11 26
9.59
13 13
1328
10.42
9.98
10 94
1047
8.79
8.16
10.69
12.25
1049
1129
9.58
13 03
1324
10.44
9.98
10 98
1049
8.85
8.23
10.73
12.32
10 51
11 32
9.63
1295
1333
10.47
10.02
10 99
1052
8.92
8.26
10.75
12.40
1053
1135
9.61
13 11
1333
10.44
9.97
10 98
1049
8.93
8.29
10.77
12.36
1050
1132
9.77
13 15
1348
10.55
10.05
11 10
1058
8.98
8.40
10.79
12.47
10 64
11 41
9.81
13 10
13.52
10.52
10.04
11 06
1056
8.99
8.39
10.82
12.43
1057
11.43
9.81
13 13
13.51
10.58
10.10
11 10
1060
'8.99
8.40
10.87
12.51
1061
11.48
'9.84
13.34
13.66
10.66
10.18
11 18
10.67
'9.02
'8.40
10.87
12.53
10.69
11.57
"9.89
"13.39
"13.43
"10.60
"10.16
"11.04
"10.57
"8.95
"8.40
"10.87
"12.48
"10.55
"11.50
9.88
12 9 J
10.13
13.31
10.29
13.59
10.27
13.58
10.26
13.59
10.30
13.65
10.31
13.60
10.33
13.58
10.37
13.65
10.41
13.61
10.40
13.70
10.47
13.89
10.43
13.84
10.47
13.85
10.52
13.92
"10.46
"13.58
9 72
9 98
10 13
10 12
10 14
10 17
10 17
10 17
10 25
10 31
10 29
10 32
10 35
10 36
1049
"10.47
776
9.18
8.78
893
1407
7.17
801
9.43
9.02
9 10
1468
7.37
820
9.61
9.18
9 25
14 31
7.52
822
9.62
9.22
9 27
1439
7.60
823
9.62
9.22
926
1475
7.59
823
9.66
9.24
933
1534
7.59
821
9.65
9.25
932
1587
7.60
824
9.68
9.28
934
1613
7.62
824
9.70
9.28
937
1648
7.65
829
9.77
9.34
935
1634
7.66
8.20
9.71
9.27
928
1572
7.69
839
9.80
9.32
932
1469
7.76
8.38
9.80
9.34
927
1491
7.77
8.49
9.86
9.41
938
15.01
7.82
'8.60
'9.95
'9.51
'9.47
15.46
7.86
"8.61
"9.99
"9.58
"9.46
"15.89
"7.92
594
11 43
10.28
12.37
14 58
6 12
11 65
10.52
12.67
1498
629
11 81
10.70
12.90
1521
632
1178
10.73
12.85
15 24
632
1180
10.74
12.88
1545
634
1184
10.79
12.91
1546
632
1183
10.73
12.92
15 50
632
1189
10.76
12.98
1534
633
1191
10.75
12.98
1523
628
1204
10.83
13.12
1534
632
1190
10.89
13.08
1523
641
1199
11.05
13.18
1543
639
1197
11.04
13.25
1563
r
6.42
12.08
11.05
13.26
15.64
r
6.45
12.11
11.07
13.31
15.80
"6.45
"12.08
"11.14
"13.40
"15.96
8.92
6.08
12.03
9.60
612
9.14
6.27
12.32
9.94
631
9.31
6.44
12.42
10.14
643
9.32
6.48
12.47
10.23
648
9.31
6.49
12.50
10.23
647
9.33
6.54
12.46
10.21
648
9.35
6.55
12.51
10.36
652
9.40
6.58
12.49
10.28
649
9.41
6.59
12.48
10.31
649
9.45
6.54
12.58
10.40
6.49
9.44
6.53
12.56
10.35
650
9.46
6.63
12.70
10.47
6.61
9.47
6.64
12.69
10.50
6.62
9.50
6.67
12.67
10.55
r
6.64
'9.60
'6.73
12.70
10.62
'6.66
"9.71
"6.80
"12.75
"10.64
"6.74
8 73
849
9 09
8 91
9 32
916
9 46
9 25
9 47
928
943
929
9 59
934
948
930
9 48
926
959
933
950
929
962
949
971
959
969
961
9.76
'9.69
"9.84
"9.77
8.98
12.54
1271
9.91
12.03
960
612
9.29
12.75
1301
1018
12.32
9 94
631
9.45
C1)
1315
1031
12.36
10 11
6 43
9.49
9.52
C1)
1322
1037
12.48
10 18
645
9.54
I1)
1326
1040
12.50
10 21
647
9.61
C1)
1333
1040
12.52
10 36
6 51
9.60
C1)
1332
1042
12.54
10 28
649
9.62
C1)
1332
10.45
12.54
10 33
652
9.69
(')
1342
10.48
12.61
10 44
654
9.69
C1)
1337
10.52
12.57
1039
657
9.74
C1)
13.39
10.55
12.67
1047
658
9.78
(')
13.44
10.55
12.68
1054
6.61
9.78
13 18
1033
12.45
10 19
6 44
13.52
10.57
12.61
1054
r
6.61
'9.83
(*•)
13.62
10.60
12.65
10.59
'6.65
"9.84
(')
"13.35
"10.56
"12.74
"10.60
"6.69
873
8.49
9 09
8.91
9 35
9.10
9 40
915
9 35
9.19
9 36
9.24
9 54
9.32
945
9.33
9 53
9.34
968
9.46
957
9.43
966
9.49
977
9.58
967
9.54
9.79
'9.62
"9.77
"9.66
173.5
94 0
182 2
1549
174 9
176.1
177 1
160 9
179.0
93 3
185 5
1583
178 8
181.1
182 7
1659
181.7
927
187 3
159 9
180 9
182.8
186 6
168 2
( 22 )
( )
187 5
181 1
1957
189 8
200 2
193 9
(2)
(2)
16 86
22.12
14.25
17 33
22.67
15.00
17 62
22.99
15.28
17 63
22.99
15.30
17 64
23.02
15.59
17 64
23.05
15.25
17 64
23.05
15.33
17 64
23.05
15.29
17 74
23.12
15.35
17 74
23.12
15.45
17 74
23.12
16.07
17 93
23.15
16.21
17 93
23.57
16.10
1798
23.61
16.06
1810
23.71
16.30
18.10
23.71
312 50
169.28
322 36
167.81
327 92
167.39
330 25
167.55
329 39
166.44
331 04
166.44
335 39
167.44
332 16
165.17
33285
165.10
337 21
166.85
335 27
165.98
337 98
166.74
33937
166.85
33839
165.80
'339.14
165.51
"340.46
"164.31
312.50
531 70
480 44
406.31
433 26
369 04
322.36
539 33
493 08
418.40
447 68
378 14
330.15
557 68
491 99
432.43
463 25
389 21
329.13
557 04
483 99
425.17
455 62
383 84
327.57
551 27
478 20
423.50
45277
382 88
328.86
55230
49592
426.81
45578
38543
334.78
564 53
504 07
426.81
455 78
386 97
330.86
551 46
500 66
426.18
454 01
387 20
333.38
555 08
503 12
429.08
457 87
390 91
338.01
550 38
518 54
424.04
449 49
39080
335.39
56635
519 87
425.95
453 47
391 31
339.02
57466
52033
434.66
462 87
39690
341.39
57509
52998
430.27
457 88
39494
338.45
'572
47
r
514.73
'434.84
460 65
39834
'340.46
'584.29
'505.42
'440.26
'468.44
'402.98
"338.24
"589.16
"506.31
"430.36
"454.85
"397.60
471 58
36576
17870
484 ig
378 71
183 62
490 59
387 35
190 33
490 07
387 72
184 03
48875
386 69
183 10
488 43
386 96
184 68
497 90
39575
188 43
490 86
389 61
186 91
494 21
39281
189 51
500 68
39832
19405
494 86
394 34
192 40
500 38
39891
191 03
49999
40215
19132
'495 40
401 96
189.90
'497 84
'405.68
194.47
"492.15
"402.19
"190.74
31690
27593
32633
290 47
33366
298 62
34151
301 55
33903
300 67
337.59
301 00
34812
306 35
33749
301 32
33938
302 80
348.12
308 82
340.10
305 64
343.43
30937
350.53
314 55
345.93
31329
'348.43
'314.93
"351.29
"316.55
EMPLOYMENT COST INDEX
Civilian workers "|"
6/81 100
Workers, by occupational group
White-collar workers
do
Blue-collar workers
do
Service workers
do
Workers, by industry division
Nonmanufacturing
Services
Public administration
do
do
do
HELP-WANTED ADVERTISING
Seasonally adjusted index
1967 = 100.
See footnotes at end of tables.
153
158
0)
(!)
(2)
(2)
(2)
(2)
(2)
(2)
145 5
147 3
148 9
151 3
1528
1497
138 2
1485
151 9
139 6
1500
153 4
141 3
1512
1564
1429
1537
157.9
144.1
155.5
140 1
147 7
1597
1544
141 9
1497
161 8
1567
143 5
151 2
163 1
1579
145 1
1540
167 5
161.8
1464
155.5
169.2
163.0
161
156
155
151
159
152
147
150
147
146
151
145
14
146
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 198(5
S-13
SURVEY OF CURRENT BUSINESS
February 1990
,, .
unus
Annual
1987
1988
1988
1990
1989
Dec.
Jan.
Mar.
Feb.
June
May
Apr.
Nov.
Oct.
Sept.
Aug.
July
Jan.
Dec.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WORK STOPPAGES
Work stoppages involving 1,000 or more workers:
Number of stoppages:
Beginning in month or year
number
Workers involved in stoppages:
Beginning in month or year
thous ..
Days idle during month or year
do
UNEMPLOYMENT INSURANCE *
State programs:
Initial claims
thous
Average weekly insured unemployment
do
Rate of insured unemployment @
percent
Total benefits paid
mil $
Weeks of unemployment compensated
thous
Average weekly benefit
dollars..
Federal civilian employees unemployment
insurance (UCFE):
Initial claims
thous
Average weekly insured unemployment
do....
Total benefits paid
mil. $..
Weeks of unemployment compensated
thous
Average weekly benefit
dollars..
Veterans unemployment insurance (UCX):
Initial claims
thous
Average weekly insured unemployment
do
Total benefits paid
mil $
Weeks of unemployment compensated
thous
Average weekly benefit
dollars..
46
40
o
3
o
2
174
4456
118
4364
0
52
7
153
0
138
30
950
16795
15919
1 633
1 949
1 319
1 363
1 109
2265
24
14175
2048
21
13070
1824
21
1085
2 647
26
1 411
2618
26
1252
2520
25
1529
2 246
21
1 141
103 895
146.23
92919
145.86
7638
147.19
9 875
148.36
8722
148.28
10474
151.06
7 882
149.83
1178
1214
95
122
80
79
81
22.3
143.1
21.2
131.7
1 002 1 1 043 6
137.09
131.43
22.9
14.4
22.5
13.1
27.4
15.2
25.8
13.3
95 2
137.94
1069
142.19
91 1
145.54
98 1
147.02
4
7
1 064
7
o
8
7
6
4
55
1227
0
938
145
1364
204
3717
14
1909
60
3098
1 209
1 311
1 555
1 266
1 082
1 447
1 564
1 944
1963
19
1 127
1 855
19
1204
2055
21
1,060
r
1782
18
958
1863
r
26
1,045
r
2,010
2.0
1,041
2,128
2.4
1,224
7 727
179.30
6614
162.81
r
7269
150.69
r
8880
150.98
6490
152.61
r
6945
155.90
r
7640
154.87
8,182
155.10
89
107
12.4
90
78
2060
19
1 198
r
18.3
9.7
21.5
10.6
720
144.22
71 6
144.33
69 0
140.33
r
759
139.87
r
964
136.45
78 3
135.12
23.6
13.2
1400
141 7
99
11 3
91
108
90
92
88
91
102
90
178
1210
181
1231
128
75
167
94
165
83
156
96
150
79
143
88
140
78
141
r
80
147
90
138
79
794 9
152.26
787 6
156.27
47 6
158.32
59 2
159.05
522
158.44
604
158.66
49 4
159.00
54 0
162.38
484
161.80
r
49 2
163.43
r
549
164.31
47 5
165.72
r
1
2
402
3
308
9.4
9.7
21.9
11.2
22.3
11.9
21.5
11.8
1506
74.11
r
858
138.99
832
141.30
r
r
105
r
20.6
10.6
18.0
10.3
20.0
10.4
8
2,380
r
r
99
10 1
153
r
8.9
150
8.6
533
166.73
517
165.61
99
148
85
r
51 3
166.10
r
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
mil $
Commercial and financial company
paper, total
do....
Financial companies
do
Dealer placed
..
do
Directly placed
do
Nonfmancial companies
do
Loans of the Farm Credit System: **
Total, end of period
.. .
mil $
Long-term real estate loans
do
Short-term and intermediate-term
loans
....
do
Loans to cooperatives
do....
Federal Reserve banks, condition, end of period:
Assets, total # ..
.
mil $
Reserve bank credit outstanding, total #
.
do
Loans
....
do
U.S. Government securities
do....
Gold certificate account
do
Liabilities, total #
.
do
Deposits, total
do
Member-bank reserve balances
do....
Federal Reserve notes in circulation
do
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
mil $
Required
do....
Excess
..
.
do
Borrowings from Federal Reserve
banks
..
do
Free reserves t
do
Large commercial banks reporting to Federal
Reserve System, last Wed. of mo.: :(:
Deposits:
Demand, total #
mil. $..
Individuals, partnerships, and
corporations
do....
States and political subdivisions
do....
U S Government
do
Depository institutions in U S
do
Transaction balances other than demand
deposits
do
Nontransaction balances, total
do....
Individuals, partnerships, and
corporations
do ....
Loans and leases(adjusted),total §
do....
Commercial and industrial
do....
For purchasing and carrying
securities
do....
To nonbank depository and other
financial
do....
Real estate loans
do
To States and political subdivisions
do....
Other loans
do
Investments, total
..do ....
U.S. Treasury and Govt. agency securities,
total
do
Investment account
do....
Other securities
do....
See footnotes at end of tables.
1
r
66 631
66 631
62212
62933
62458
64 357
62396
64 115
65588
65764
2
373,586
2
287 274
2
115 034
2
172 240
2
86312
451,762
354 127
161 535
192 592
97635
451,762
354 127
161 535
192 592
97 635
468,690
362 469
163 718
198751
106 258
5
487,007
5
377 749
5
174 807
5
202*942
5
486,783
377 094
173 464
203 630
109 689
498,606
379 647
172 577
207 070
118 959
501,589
378 388
170 122
208 266
123 201
504,371
380 375
170 174
210 201
123 996
503,095
381 029
175 978
205 051
122 066
513,786
388 935
180 822
208 113
124 851
52498
34 346
51 428
32182
51 428
32 182
50744
31 051
50390
30624
50 589
30 474
9 927
8,225
9 256
9,990
9256
9990
9286
10408
9 980
9787
10240
9*.876
275 566
293 674
293 674
286 771
284 582
281 635
303 807
286 551
295 816
283 237
282 515
236 046
3*815
222,551
11078
275 566
48368
41,784
250 945
2' 170
238,422
11 060
293 674
48898
39,347
250 945
2 170
238,422
11 060
293 674
48898
39,347
241 413
863
232,933
11 056
286 771
48 245
35,810
230 795 238 435
2454
1 602
229,499 228,643
11 061
11 061
284 582 281 635
44 126
42 587
36,985
37,394
257 498
1*952
232,150
11 061
303 807
61 753
37,968
234 286
2*033
223,535
11 060
286 551
39794
33,553
239 059
841
231,767
11 063
295 816
50 038
37,381
226 230
594
218,676
11 066
283 237
40258
34,339
212 890
229 640
229 640
221 619
222 769
224 857
225 336
229 372
230 848
3
62 123
3
61,094
3
3
63 739
3
62,699
3
60 212
59,255
957
61 288
60 511
776
58911
57 881
1 031
59 587
58 681
905
2 289
194
1 720
508
70 565
1 029
3
111
3
1 040
3
109 258
63739
62,699
1 040
63 468
62323
1 145
60693
59,539
1 154
1 716
568
1 662
529
1 487
717
63 813
63 660
511,881
385 798
178*481
207 317
126*083
512,446
384 785
173 119
211 666
127 661
516,426
387 137
175770
211 367
129 289
290 607
293 439
292 539
304 465
2929
225 192
'541
217,409
11 066
282 515
39 114
31,924
228 704
598
221,051
11 065
290 607
46348
32,253
226 441
270
218,176
11062
293 439
46018
32,351
230 516
182
223,142
11060
292 539
43395
37,277
236 991
481
228,367
11,059
304 465
46430
38,327
2260
7
218,3
11,0
2929
43,2
29,4
230 229
230 766
229 076
230 467
235 306
241 739
234,4
60 254
59288
966
59 559
58 674
885
60126
59,188
938
60989
60,044
945
r
62,810
r
61,888
r
922
62,9
61,9
10
694
378
675
251
693
267
555
486
349
617
265
677
4
6
248,307
232,3,
60397
59,378
1 020
735
l3716
568
247,354
247,112
247,112
219,279
228,985
217,185
220,021
244,114
219,187
215,981
215,034
222,501
216,550
223,373
190,551
6,741
3 258
27 450
195,301
6,993
2711
24 187
195,301
6,993
2 711
24 187
174,977
6,770
2 531
19413
181,031
5,868
1 709
23 360
173,682
5,209
2983
18 950
174,716
6,247
4 649
18 567
189,983
5,894
2 678
25996
173,820
6,078
2 516
20081
172,343
5,862
3046
19 246
172,097
5,182
3 084
19 517
175,734
6,415
3 113
19 506
173,248
5,978
2 262
19716
178,974 197,212
5,623
7,248
1 865
1 793
24251
21049
i85,r
66 953
565,156
75384
624,038
75384
624,038
75 222
651,187
75969
657,494
75386
667,737
77 604
667,428
74 271
673,096
71 824
674,735
72951
682,063
73 459
686,827
72787
687,094
74794
700,138
76012
703,876
79238
704,060
80 2(
719,8*
524,426
847,282
287,385
585,178
918,698
301,013
585,178
918,698
301,013
609,588
931,166
304,520
615,114
942,497
309,355
625,588
948,734
310,400
626,154
948,493
314,548
631,788
963,570
317,429
634,594
963,811
313,436
642,708
967,448
319,341
647,353
971,706
317,064
648,506
976,688
314,783
661,528
986,018
317,857
665,907
992,651
318,983
666,397 680,9*
994,060 1,003,4$
318,691 319,9,
1 813
478
1 490
332
r
7,1(
22'
21 2*
12,496
14,090
14,090
12,605
13,620
15,134
14,102
15,640
17,028
16,360
16,280
16,699
16,948
15,760
16,261
16,04
23,927
261 036
32,664
229 774
196,170
22,858
301 629
28,441
250 667
200,806
22,858
301 629
28,441
250 667
200,806
21,198
312 261
27,999
252 583
207,976
20,435
314 359
27,822
256 906
207,398
19,728
318 227
27,660
257 585
209,135
20,064
322 112
27,436
250 231
205,775
21,426
325 963
27,143
255 969
209,890
21,810
330 487
26,996
254 054
212,393
21,813
333 971
26,735
249 228
214,014
21,815
340 854
26,514
249 179
214,323
21,590
342 740
26,222
254 654
213,744
22,424
345,702
26,061
257 026
226,339
22,872
350,282
25,389
259 365
227,886
22,334
352,500
24,940
259 334
223,349
21,7(
358,5*
24,7£
262 3r
240,9$
122881
111,856
73,289
128 633
114,447
72,173
128 633
114,447
72,173
135 364
118,426
72,612
135 161
120,353
72,237
137 135
120,529
72,000
134 058
121,154
71,717
137 220
124,003
72,670
140 742
128,575
71,651
142 550
129,326
71,464
143 671
131,501
70,652
143 947
132,031
69,797
157 973
138,399
68,366
161 418
141,011
66,468
156 556
140,002
66,793
1739*
148,84
66,94
S-14
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
SURVEY OF CURRENT BUSINESS
Annual
,, .f
1988
1987
February 1990
Dec.
1990
1989
1988
Jan.
Feb.
Mar.
Apr.
Aug.
June
July
2,470.9 2,486.3
373.5
370.7
1864
187 2
1 913 1 19265
2,496.8
373.8
185 8
19373
2,518.1 2,534.4
376.6
374.4
1828
184 6
1 959 1 1 974.9
May
Sept.
Oct.
Nov.
Dec.
2,544.1
378.8
182.9
1,982.4
2,575.5
391.7
1827
2,001.1
2,583.9
397.5
180.3
2,006.1
2,577.4
396.9
181.3
1,999.2
Jan.
FINANCE—Continued
BANKING— Continued
Commercial bank credit, seas, adj.: §
Total loans and securities <>
bil. $ ..
U.S. Government securities
do....
Other securities
do
Total loans and leases Q
do
Money and interest rates:
Prime rate charged by banks on
short-term business loans
percent..
Discount rate (New York Federal
Reserve Bank) @ @
do
Federal intermediate credit bank
loans
do
Home mortgage rates (conventional 1st
mortgages):
New home purchase (U.S. avg.)
percent..
Existing home purchase(U S avg )
do
Open market rates, New York City:
Bankers' acceptances, 3-month
do ....
Commercial paper, 6-month :(:
do....
Finance co. paper placed directly, 6-mo
do ....
Yield on U.S. Gov. securities (taxable):
3-month bills (rate on new issue)... percent..
2,239.6
335.5
195 3
1 7088
8.22
566
8 54
2
2
2,417.2
361.4
194 0
18619
2,422.8
360.4
189 6
18729
2,451.9
361.8
190 4
18997
2,464.9
368.8
189 7
19065
9.32
10.50
10.50
10.93
11.50
11.50
11.50
11.07
10.98
10.50
10.50
10.50
10.50
10.50
10.11
620
650
650
659
700
700
700
700
700
7.00
7.00
7.00
7.00
7.00
7.00
2,417.2
361.4
194 0
18619
(3)
8.94
894
2
8.83
2
901
9.04
931
9.20
931
9.46
9 44
9.63
962
9.88
976
9.82
1013
10.09
1027
10.06
10 10
9.83
9.81
9.87
9.82
9.77
9.86
9.78
9.80
9.70
9.69
9.59
9.68
6.75
6.85
7.56
7.68
8.96
8.97
8.93
9.02
9.27
9.35
9.83
9.97
9.68
9.78
9.35
9.29
8.97
8.80
8.54
8.35
8.47
8.32
8.59
8.50
8.42
8.24
8.21
8.00
8.15
7.93
7.97
7.96
6.37
7.14
8.24
8.44
8.65
9.17
9.29
8.97
8.22
7.80
7.49
7.56
7.50
7.45
7.33
7.34
5.820
6.690
8.090
8.290
8.480
8.830
8.700
8.400
8.220
7.920
7.910
7.720
7.590
7.650
7.640
7.640
618,191
671,362
671,362
684,674
682,274
682,154
687,288
692,263
697,270
699,019
706,098
709,606
711,271 '716,900
729,322
287 154
141 120
81,007
45 080
60226
323 931
146 212
87,110
47863
62572
323 931
146 212
87,110
47863
62572
318 287
141 194
86,980
42804
62,792
316 898
141 292
86,865
41071
62674
314743
140 207
87,346
40,762
62,007
318 603
141 730
88,222
40,591
61,808
321 053
143 265
88,874
40829
61648
323 107
144 882
89,488
40,962
60,178
323 368
145 424
89,672
40,787
60,134
326 997
145 990
90,727
41,180
59,679
329 543
147 207
90,980
41,171
59,679
331 135 r333,679
144 418 143 760
91,051 '90,816
42,680
41,434
58,678 '58,439
340,103
141 793
90,920
47,017
58,172
CONSUMER INSTALLMENT CREDIT t
Not seasonally adjusted
Total outstanding (end of period) #
By major holder:
F'
Credit unions
Retailers
Savings institutions
Seasonally adjusted
Total outstanding (end of period) #
By major holder:
Commercial banks
Finance companies
Credit unions
Retailers
Savings institutions
By major credit type:
Revolving
Mobile home
By major holder:
Commercial banks
Credit unions
Savings institutions
By major credit type:
Automobile ..
Revolving
Mobile home
mil. $..
d
do ....
do
do
do.
659 507
682,020
687,397
691,162
693,911
698,132
700,849
700,344
703,001
704,371
707,562 '712,160
717,074
do
do
do
do
do
318,925
145,180
86,118
43,498
62,099
316,797
141,795
87,093
40,986
62,867
318,423
143,419
87,813
41,052
63,109
318,242
143,070
88,514
41,300
62,735
320,458
144,378
89,330
41,301
61,919
323,363
145,523
89,890
41,323
61,311
324,438
146,055
90,073
41,649
59,920
323,621
145,488
89,852
41,798
60,092
326,135
144,386
90,016
41,989
59,229
327,327
144,188
89,892
42,221
59,883
330,746 '332,675
141,273 141,396
89,856 r89,677
42,554
42,319
58,890 '58,264
334,936
140,484
89,886
42,744
57,693
do
do
281 174
174,792
25,744
5 094
286 382
176,716
26,036
22 513
288 767
178,570
25,992
5 376
288 850
182,831
24,168
3 765
289 654
184,500
23,993
2 749
290 741
186,502
23,952
4 221
290 192
189,622
23,685
2 717
288 526
191,028
23,630
505
288 533
194,398
22,938
2 657
287 754 288 747 '289 200
195,302 196,379 199,240
22,947 '22,567
22,991
'4 598
3 191
1 371
289 459
203,301
22,602
4 913
1,075
532
183
326
-1,391
-817
567
-221
149
172
-549
3,120
-267
-1,667
1,406
-56
do
do
2,242 -2,127
3 385
1 692
975
378
2 513
588
768
177
do
do ....
do
1 248
1,762
261
do
FEDERAL GOVERNMENT FINANCE
Federal receipts and outlays:
Receipts (net)
mil $
Outlays (net)
do
Total surplus or deficit ( )
do
Federal financing, total
do...
Borrowing from the public
do ...
Other
do.
Gross amount of debt outstanding
do...
Held by the public
do
Federal receipts by source and outlays by
agency:
Receipts (net), total
mil. $.
Individual income taxes (net)
do
Corporation income taxes (net)
do...
Social insurance taxes and contributions
(net)
mil. $
Other
do ...
Outlays (net), total
do...
Agriculture Department
do...
Defense Department, military
do ...
Health and Human Services
Department
mil. $.
Treasury Department
do...
National
Aeronautics
and
Space Adm
,
do
Veterans Affairs Department
do ...
GOLD AND SILVER:
Gold:
Monetary stock, U.S. (end of
period) @
mil $
Price at New York :fc:j:
dol. per troy oz.
Silver:
Price at New York tt
dol per troy oz
See footnotes at end of tables.
5208
1,924
293
1,626
1 624
720
67
242
-181
349
701
247
-375
-816^
2,905
1 145
560
22
-608
2385
1,854
44
82
4,261
1824
804
1,670
-174
1087
2,002
-41
68 205
61 897
89 306
'854 143 '908 166
93729
1 1 002 147 '1 063 318 105 171
86 500
89 769 103 984
35779
11 442
27 871
2 806
148 005 ' 155 151
35,779
11,442 -2,806
27,871
'155,151
'148,005
1
13,405
17,190
150,070 '166,139
7,359
11,910
1
22374
10,165
468
2065 ' 10,988
10681
1
2,355,206 '2,614,581 2,707,284 2,720,742 2,745,577 2,763,562
'1 897 761' 2 063 9002 117 766 2 125 125 2 142 315 2 155 684
1
1
2,216
1 308
816
2,514
1 102
'l64
191
-863
1,192
198
-124
232
654
3,419
2 915
-36
98
-993
1,929
123
'-179
235
'-626
2,261
912
209
190
-571
3,370
-692
-779
904
53
993
1,076
-44
'453
'2,861
'-380
259
4,062
35
99,542
89,130
71,213
68,426
99,233
76,161
66191
71 025 108 249
128 892
89,622
94,515 100,172 103,770
98310 105 299
84430
96 491 100 460
88320
9,920
22,150 -6,066 -26,089 -28,959 -14,641
18 239
7789
25466
40 572
14,641 -9,920
28,959
26,089
6,066
22,150
18,239
25,466 -7,789
-40,572
15,841
6,821
19,790
36,690
6,672
35,854
1,098 -3,962
10,214
-1,291
7,820 -25,761
9,169
-606 -10,601
22,201 -13,704
15252 -8,887
-39,281
2,779,291 2,800,128 2,823,955 2,824,487 2,860,454 2,881,112 2,924,765 2,946,111 2,975,537 2,996,900
2 154 393 2 164 607 2 165 705 2 161 743 2 197,597 2,204,270 2,240,959 2,260,749 2,267,570 2,283,411
'908,166
'401 181
'94,195
93,729
39 673
22,294
89,306
48627
3,181
61,897
23 427
907
68,205
17769
12,744
128,892
68533
14,689
71,025
25336
1,926
108,249
49,876
20,878
66,191
29,377
2,042
76,161
36,932
1,963
99,233
45,026
19,430
68,426
35,493
729
71,213
34,448
2,385
89,130
37,385
18,878
99,542
56,044
3,118
'334,335
'303318
1
'78,454
74,342
'1,063,318
'1,002,147
1
49,593
'44,003
1
273,938 '281,935
24698
7,063
105,171
4,917
28,201
31,652
5,846
86,500
4,610
19,281
32086
5,479
89,769
4,153
22,546
30,268
7,423
103,984
3,832
28,918
39,496
6,173
88,320
4,589
20,590
35349
8,414
96,491
3,677
24,327
31,276
6,215
100,460
3,209
28,379
27,941
6,832
84,430
3,018
20,478
28,470
8,794
98,310
2,247
25,313
29,259
5,518
105,299
3,074
27,750
24,308
7,896
94,515
3,821
19,152
26,791
7,588
100,172
5,167
24,586
25,805
7,062
103,770
3,553
27,759
32,863
7,517
89,622
3,762
21,137
854,143
'392
557
1
83,926
'351,315
180,345
'373,169
'201,644
33,491
34,577
31,487
15,492
32,227
16,473
35,553
16,380
31,650
16,443
34,363
19,227
38,818
35,659
31,642
14,325
34,859
16,886
34,590
14,482
33,207
14,813
34,029
19,457
35,840
40,660
35,172
15,315
'7591
'26,952
'9092
' 29,249
884
3,527
822
1,182
709
2,278
1043
3,758
809
1,246
966
2,805
998
3,587
822
1,211
989
2,257
1,003
3,628
1,126
1,492
976
2,611
1,065
3,653
904
1,077
11 078
446.504
11 057
436.931
11 057
418.488
11 056
404.014
11 061
387.776
11 061
390.143
11 061
384.400
11 060
371.316
11 063
367.598
11 066
374.978
11 066
364.928
11 065
361.890
11062
366.884
11,060
392.320
409.150
415.596
7 009
6 535
6 108
5 972
5 891
5930
5791
5 447
5280
5 236
5 179
5133
5133
5.465
5.533
5.243
1
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
S-15
SURVEY OF CURRENT BUSINESS
February 1990
1988
Annual
I T .t
Units
1987
1988
Dec.
1990
1989
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
FINANCE—Continued
MONETARY STATISTICS
Currency in circulation (end of period)
bil. $..
Money stock measures and components (averages
of daily figures): t
Measures (not seasonally adjusted):
Ml
bil $
M2 . .
do
M3
do....
L (M3 plus other liquid assets)
do....
Components (not seasonally adjusted):
Currency
do....
Demand deposits
do
Other checkable deposits 1 j
do
Overnight RP's and Eurodollars 6
do
General purpose and broker/dealer
money market funds
do
Money market deposit accounts
do.
Savings deposits
do
Small time deposits @
do
Large time deposits @
.
do
Measures (seasonally adjusted):
Ml
do
M2
do.
M3
do
L (M3 plus other liquid assets)
do.
Components (seasonally adjusted):
Currency
do
Demand deposits
do
Other checkable deposits #
do.
Savings deposits
do
Small time deposits @
do
Large time deposits @
do
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Bureau of the Census):
Net profits after taxes, all
Food and kindred products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Stone, clay and glass products
Primary nonferrous metal
Primary iron and steel
Fabricated metal products
Machinery (except electrical)
1
do....
do....
do
do....
do....
do
do....
do .
do....
do....
Transportation equipment (except motor
vehicles and equipment)
mil. '$..
Motor vehicles and equipment
do....
All other manufacturing industries
do .
Dividends paid (cash), all manufacturing
do....
230.2
247.7
247.7
744.2
2,863.2
3,591.9
4,243.8
776.0
3,009.4
3,819.2
4,528.8
'804.5
'3,085.2
'3,932.5
'4,692,9
188.8
294.3
254.3
205.3
289.0
274.4
'214.8
'298.9
r
283.8
247.6
249.2
242.9
'812.1
'791.7
'785.0
'779.1
'778.1
'782.3
'774.4
'767.7
'791.6
'775.9
'773.0
'793.5
'3,085.6 '3,065.8 '3,080.7 '3,100.2 '3,071.2 '3,099.1 '3,132.7 '3,146.4 '3,156.3 '3,178.9 '3,204.4 '3,235.1
'3,935.5 '3,925.7 '3,954.4 '3,971.1 '3,950.7 '3,978.5 '4,005.4 '4,011.7 '4,009.1 '4,016.7 '4,039.6 '4,057.9
'4,700.6 '4,694.5 '4,729.8 '4,760.0 '4,745.1 '4,771.7 '4,793.2 '4,812.8 '4,818.9 '4,830.3 '4,854.6 4,883.3
802.4
3,245.2
4,062.3
222.9
283.0
289.5
'211.7
290.5
'284'.3
211.9
'275.8
'278.2
'213.9
'276.0
'279.0
'215.1
'283.3
'286.3
'216.6
'273.6
'270.3
'218.4
'276.7
'271.8
219.7
'281.8
'272.7
'219.2
'277.1
'273.7
'218.6
'276.3
'276.5
'218.9
'280.7
'278.1
'221.0
'281.6
'282.1
225.3
'291.6
'288.4
'86.5
'83.3
'82.0
'78.5
'77.8
'79.6
'80.9
'78.3
'74.8
'75.3
'74.9
'76.9
81.0
79.3
78.1
'83.3
213.8
552.2
408.1
865.7
461.8
232.2
517.5
426.4
979.2
512.5
'240.5
'503.8
'424.8
1,028.4
r
541.1
'312.8
'309.8
'301.3
'294.9
'286.8
'275.6
'266.8
'260.7
'248.4
'260.7
'256.8
'242.9
'487.9
'483.2
'474.6
'470.6
'467.0
'461.4
'458.6
'458.8
'472.8
'481.7
'487.0
'496.5
r
'406.3
'407.6
'407.2
404.6
'404.9
'407.3
'406.2
'406.4
'417.0
'417.1
'412.9
'421.5
'1,044.6 '4,057.0 1,067.1 1,083.7 1,099.8 1,113.5 1,125.1 1,131.2 1,132.1 1,135.5 1,137.3 1,139.2
'557.9
'563.6
'565.4
'567.4
'570.4
'562.1
'570.7
'572.6
'572.5
'566.6
'553.5
'545.9
319.6
489.4
408.0
1,144.8
553.2
r
787.5
'3,072.4
'3,918.4
'4,676.1
'794.8
'789.4
'788.1
'782.9
'780.4
'786.7
'773.7
'776.2
'782.1
'785.5
'785.8
'779.1
'3,073.6 '3,078.1 '3,086.9 '3,089.4 '3,085.3 '3,101.6 '3,127.0 '3,146.7 '3,163.3 '3,181.5 '3,200.8 '3,222.2
'3,926.1 '3,936.8 '3,956.6 '3,965.1 '3,965.6 '3,984.9 '4,007.2 '4,012.0 '4,012.0 '4,016.6 '4,029.8 '4,043.8
'4,682.8 '4,699.9 '4,732.1 '4,757.1 '4,756.7 '4,778.9 '4,804.1 '4,818.1 '4,823.4 '4,830.4 '4,845.8 4,865.8
794.9
3,233.5
4,053.2
211.8
'287.0
'281.3
'427.8
'1,031.0
'541.1
'221.9
'220.4
'220.0
'219.3
'218.6
'214.1
'217.8
'217.2
'216.6
'215.7
'215.3
'213.2
'279.7
'278.8
'280.0
'278.1
'278.5
'276.3
'281.3
'283.9
'284.9
'284.5
'279.6
'279.6
'285.7
'282.8
'280.8
'278.4
'276.0
'273.0
279.1
'280.2
'280.6
'274.5
'272.8
'277.9
'409.0
'407.9
'406.1
'405.5
'404.0
'403.3
'403.4
'405.4
'412.0
'417.9
'421.0
'424.2
1,042.7 1,054.2 1,066.4 1,084.1 1,103.0 1,114.0 1,122.4 1,130.0 1,132.6 1,135.9 1,138.5 1,142.6
'558.1
'560.9
'562.7
'565.6
'570.5
'574.7
'574.9
'573.1
'568.3
'560.1
'553.3
'546.7
224.6
277.3
285.5
410.5
1,143.4
554.4
115,599
15,627
1
1,891
1
5,520
* 16,559
1
10,900
;
2,911
1
1,077
'1,356
1
4,427
1
10,203
1
9,570
154,583
20,671
1,560
8,081
23,651
21,225
2,453
4,256
993
5,335
13,778
11,143
37,410
4,751
377
1,911
5,561
6,039
556
1,116
515
642
3,615
2,762
38,302
3,668
387
1,979
6,873
5,658
-8
1,234
476
2,116
2,667
2,396
36,546
4,016
499
2,022
6,800
3,822
779
1,219
450
1,648
2,401
2,518
33,717
3,443
406
1,850
6,285
4,733
844
1,099
429
1,458
2,254
2,422
'4,677
10,647
5,019
12,474
1,022
3,272
1,338
3,867
1,343
3,469
1,076
1,154
1
20,234
23,944
5,271
5 651
5,560
6,264
1
49,512
57,064
16,509
16 521
17 453
15,781
228,387
10,421
(2)
172,499
45,485
6,506
7,627
2,088
475
(2)
(2)
(2)
224,490
33,327
4,742
12,793
3,078
4,031
147,030
10,221
1,066
1
185
0
59
8,454
( 22 )
()
( 22 )
( )
( 22)
(2 )
()
117,011
22,602
11,496
1,419
'7,210
1,403
'8,523
1,350
'9,697
1,840
'8,440
'5,023
'8,176
'963
14,634
'4,577
'9,776
1,847
10,646
'5,457
11,336
1,468
10,142
1,835
10,427
'814
14,030
'2,426
6,004
449
31,990
32,740
32,740
32,530
31,480
32,130
32,610
33,140
34,730
34,360
33,940
35,020
35,110
34,630
34,320
32,640
4,750
15,640
5,660
16,595
5,660
16,595
5,790
15,705
5,605
16,195
5,345
16,045
5,450
16,125
5,250
15,965
6,900
19,080
5,420
16,345
5,580
16,015
5,680
15,310
6,006
16,340
5,815
16,345
7,040
18,505
6,755
17,370
64.2
66.0
68.2
68.2
67.3
65.8
66.2
553.49
734.37
878.24
712.42
805.75
769.80
925.98
1
1
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds total..
mil $
275,418
By type of security:
Bonds and notes, corporate
do.... 191,339
Common stock
do.... 65,835
Preferred stock
do
11,735
By type of issuer:
Corporate, total #
mil. $.. 268,909
Manufacturing
do
46,472
Extractive. . .
. .
do
8,229
Public utility
.
do
19,943
Transportation
.. .
do
6,698
Communication
do
7,326
Financial and real estate
do.... 151,049
State and municipal issues (Bond Buyer): §
Long-term
do
105,523
Short-term
do.... 20,271
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at broker-dealers, end of year
or month
...
mil $
Free credit balances at brokers, end of year
or month:
Margin-account
do
Cash-account .
do
Bonds
Prices:
Standard & Poor's Corporation, domestic
municipal (15 bonds)
dol. per $100 bond..
62.7
62.0
Sales:
New York Stock Exchange, exclusive of some
stopped sales, face value, total
mil. $.. 9,726.24 7,701.39
See footnotes at end of tables.
62.9
640,57
65.0
632.13
64.3
558.88
63.2
591.39
66.9
829.83
67.9
66.9
844.00 1,075.17
S-16
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
methodological notes are as shown in
BUSINESS STATISTICS: 1986
Anr ual
February 1990
1990
1989
1988
Units
Sept.
y
FINANCE—Continued
Bonds— Continued
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa
:
A
Baa
By group:
Industrials
Public utilities
Railroads
Domestic municipal:
Bond Buyer (20 bonds)
Standard & Poor's Corp. (15
bonds)
U.S. Treasury bonds, taxable :1:
percent..
9.91
10.18
10.03
10.05
10.05
10.18
10.14
9.95
9.50
9.34
9.36
9.41
9.34
9.32
9.30
9.43
do ....
do ....
do ....
do
9.38
9.68
9.99
10 58
9.71
9.94
10.24
1083
9.57
9.81
10.11
10 65
9.62
9.81
10.10
10 65
9.64
9.83
10.13
10 61
9.80
9.98
10.26
1067
9.79
9.94
10.20
10 61
9.57
9.75
10.00
10 46
9.10
9.29
9.59
10 03
8.93
9.14
9.42
9 87
8.96
9.14
9.45
9 88
9.01
9.23
9.51
9 91
8.92
9.19
9.44
9 81
8.89
9.14
9.42
9 81
8.86
9.11
9.39
982
8.99
9.27
9.54
994
do ....
do....
do
9.83
9.98
9 63
9.91
10.45
1003
10.04
10.02
1006
10.08
10.02
10 04
10.08
10.02
10 05
10.19
10.16
10 19
10.13
10.14
10 27
9.97
9.92
10 31
9.51
9.49
10 17
9.34
9.34
10 05
9.35
9.37
9.39
9.43
9.31
9.37
9.30
9.33
9.28
9.31
9.42
9.44
do ....
7.69
7.66
7.50
7.29
7.56
7.64
7.40
7.15
7.02
6.86
7.16
7.40
7.24
7.04
6.97
7.24
do
do....
7 73
8.64
774
8.98
7 66
9.13
7 41
9.07
7 47
9.16
7 61
7 49
9.18
7 25
8.95
6 97
8.40
697
8.19
7 08
8.26
7 27
8.31
7 22
8.15
7 13
8.03
701
8.02
7 13
8.39
9.33
1
Stocks
Prices:
Dow Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks)
Standard & Poor's Corporation: §
Combined index (500 Stocks)
1941-43 = 10..
Industrial, total (400 Stocks) #
do
Capital goods
do....
Consumer goods
do....
Utilities (40 Stocks)
do
Transportation (20 Stocks)
1982 = 100...
Railroads
1941-43 — 10
Financial (40 Stocks)
1970=10..
Money center banks
1941-43 = 10..
Major regional banks
do.-..
Property-Casualty Insurance
do ....
N.Y. Stock Exchange common stock indexes:
Composite
12/31/65=50..
Industrial
do . ..
Transportation
do
Utility
do
Finance
do
NASDAQ over-the-counter price indexes:
Composite
2/5/71-100
Industrial
do
Insurance .
do
Bank
do
NASDAQ/NMS composite
7/10/84=100..
Industrial
do
Yields (Standard & Poor's Corp.):
Composite (500 stocks)
percent.
Industrials (400 stocks)
do
Utilities (40 stocks)
do
Transportation (20 stocks)
do....
Financial (40 stocks)
do
Preferred stocks, 10 high-grade
do ....
Sales:
Total on all registered exchanges (SEC):
Shares sold
On New York Stock Exchange:
Market value
Shares sold (cleared or setNew York Stock Exchange:
Exclusive of odd-lot stock sales
(sales effected)
NASDAQ over-the-counter:
Market value
Shares sold
Shares listed, NYSE, end of period:
Market value, all listed shares . .
Number of shares listed
84946
2,275.99
201 70
929 19
990 60 1 065 83 1 078 40 1,049.44 1,004.41 1,029.12 1,001.68
932.47
89732
88052
95580
86699
85145
81730
77217
2,060 82 2,148 58 2,234.68 2,304.30 2,283.11 2,348.91 2,439.55 2,494.90 2,554.03 2,691.11 2,693.41 2,692.01 2,642.49 2,728.47 2,679.24
223.19
23205
22102
21664
21595
215 52
19629
21808
20672
187 98
186 64
188 88
185 15
17974
18281
95539 1 009 31 1 073 18 1 046 32 1 098 04 1 139 83 1 158 90 1 223 05 1 407 13 1 462 67 1 342 02 1 188 12 1,182.98 1,139.75
86383
286.83
33090
288.23
323.77
11270
228.91
166 90
28.15
112.03
10954
311.50
265.79
30668
252.83
305.95
108 74
209.02
15873
24.09
92.05
103.22
271.62
276.51
31907
253.87
331.12
113 02
225.63
171 25
24.79
98.74
103.82
266.65
285.41
33017
262.80
339.49
11437
237.65
178 57
25.51
99.73
10472
274.49
294.01
339 70
273.90
353.53
11688
251.42
187 76
26.68
104.23
109.91
288.70
292.71
33774
262.31
352.18
116 65
245.69
18535
26.96
104.67
10929
295.79
302.25
34847
265.71
368.61
119 91
250.63
182 19
28.31
113.23
113.96
307.82
313.93
36088
274.71
386.24
12774
262.59
194 13
29.10
114.86
121.88
301.76
323.73
37036
279.47
399.70
13350
268.10
198 07
30.85
122.57
129.20
316.61
331.93
37945
282.04
411.63
13722
276.07
197 89
31.70
122.12
132.01
321.65
346.61
39663
296.33
434.05
14047
307.44
211 31
33.16
127.09
136.60
344.12
347.33
39708
294.62
430.76
14098
315.42
21545
33.24
125.45
135.63
345.97
347.40
39634
288.65
439.31
14271
297.89
208 51
33.76
130.47
132.49
364.37
340.22
388.11
277.78
430.31
14337
272.41
198 92
32.48
117.79
123.77
381.59
348.57
398.43
286.06
432.27
152.18
276.07
209 58
31.14
111.50
116.75
373.23
339.97
390.58
286.06
423.16
146.04
270.90
21040
29.68
103.93
114.22
362.11
161.70
19531
14039
74 30
146 48
149.91
18095
134 12
71 77
12726
155.35
18775
14407
74 81
12883
160.40
19462
153 09
75 87
13226
165.08
20000
162 66
77 84
13719
164.60
199.20
160 14
77 66
13791
169.38
20481
164 32
79 72
143 26
175.30
211.51
16889
8407
14659
180.76
216.75
17347
8790
15409
185.15
221.74
179 32
9040
15778
192.94
231.32
197 52
9290
16486
193.02
230.86
20202
9344
16551
192.49
229.40
19036
9467
16655
188.50
224.38
17426
9495
160.89
192.67
230.12
177 25
9973
155.63
187.96
225.79
173.67
95.69
150.11
40274
42272
425 25
46495
172.49
161 06
37443
37949
408 17
444 14
161.95
14678
37578
371 11
42534
43645
163.15
14424
389 32
38571
441 91
446 01
169.07
149 98
404 08
399 80
461 07
45887
175.62
155 66
40399
39674
46940
45758
175.67
154 51
417 13
40976
48035
457 31
181.71
159 95
43599
431 81
48304
46050
190.19
16895
447 61
43784
503 78
47570
195.38
171 32
44670
434 03
51343
47214
195.04
169 85
461 83
44847
53562
48422
201.86
175 63
46928
45501
53304
485.08
205.14
178 19
46968
455 91
53837
460.01
205.35
17864
45470
44163
546.07
427.08
198.82
173 11
44901
440.00
547.35
395.94
196.47
17283
439.35
436.80
522.05
386.67
192.26
171.71
308
2 62
652
2.20
3 60
8.37
364
3 14
7 08
2.48
4 34
9.24
368
3 19
698
2.34
4 26
9.38
364
3 14
699
2.41
4 15
9.31
359
3 10
692
2.17
4 03
9.31
368
3 18
7 06
2.24
4 07
9.43
359
3 10
6 95
2.21
3 90
9.50
352
3 06
6 62
2.09
3 85
9.32
3.44
3 01
635
2.04
3 64
8.96
338
2 97
620
1.98
3 58
8.81
3.28
286
611
1.93
3 42
8.75
3.29
288
605
1.88
3 44
8.82
3.29
289
595
2.02
3 39
8.85
3.39
2 98
5.93
2.32
357
8.73
3.33
2 94
5.53
2.33
377
8.75
8.80
millions
2 284 166 1 584 106 117 060
52474
3 922
63 771
122 524
4 049
143 957
4 675
148 021
4*530
136 598
4 115
157 168
4 722
178 088
4*967
144 776
4 141
190 751
5'l46
153 234
4416
185 652
4889
136 342
4064
144 168
4377
mil $
1 983 311 1 377 711 100 228
102 736
124 800
126 697
116 894
133 978
153 329
122 567
164536
129 727
161 383
115,042
122,748
3 264
3 909
3 694
3 356
3 887
4092
3 283
4 242
3 517
4 022
3 217
3572
53 038
44 018
3 222
.millions..
47,801
40,850
2,845
3,532
3,217
3,503
3,238
3,749
3,967
3,250
3,948
3,035
4,013
3,032
3,214
3,794
mil $
millions
498,301
498
301
37,890
37
890
347,089
347
089
31,070
31
070
25,761
25761
2,488
2488
33 475
33,475
2,716
2716
30 227
30,227
2,532
2 532
33,452
33452
22,883
883
32,232
32
232
22,666
666
40,870
40870
3,080
3 080
41,572
41 572
3,029
3029
33,680
33680
2,502
2 502
39,575
39575
3,031
3 031
34,690
34690
2,626
2 626
45,016
3,166
3166
31,814
2,538
2 538
34,645
2,760
2760
41,869
3,029
bil $
millions..
2,216.31
221631
71,802
2 545 11 22,591.64
2,969 05 3,029.65 2,814.43
2,925 38 2,969.05
3 800 82 2,925.38
2 787 49 2,771.49
3 022 19 3,800.82
2 980 46 3,022.19
2 771 49 2,980.46
22,457.46
457 46 22,457.46
591 64 22,709.88
2 609 24 2,545.11
457 46 2,609.24
709 88 2,787.49
82,797
83,605
81,641
81,925
79,462
79,534
79,969
79,117
79,117
78,381
77,767
77,521
76,093
76,603
76,836
76,093
FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
Exports (mdse.), incl. reexports,
total @
Seasonally adjusted f
Western Europe *
European Economic Community *
Belgium and Luxembourg *
France
Federal Republic of Germany
Italy
Netherlands *
United Kingdom
Eastern Europe *
Union of Soviet Socialist Republics
See footnotes at end of tables.
31,182.5
mil $ 254,121.9 322,426.4 28,982.1 27,294.6 27,963.5 33,130.8 31,367.2 31,271.1 31,536.9 28,726.7 29,609.5 30,009.0 31,906.1 '30,351.9
r
do .
28,863.8 28,980.1 28,839.1 30,064.5 30,759.1 30,455.2 31,285.8 30,468.0 30,561.5 30,680.3 31,034.4 30,373.8 31,108.5
do
69,717.7 87,857.7
8,239.5 7,330.7 7,688.7 9,606.4 8,620.9 8,589.0 8,314.7 7,961.7 7,533.0 8,835.8 8,870.2 8,351.5 8,732.3
do.... 60,575.0 75,755.3 7,019.6 6,417.6 6,801.2 8,223.3 7,372.8 7,322.3 7,216.5 6,878.3 6,372.6 7,644.5 7,632.1 7,286.5 7,423.9
767.7
755.0
750.6
758.2
do
615.6
654.4
721.5
834.0
759.8
616.9
648.0
6,189.4
761.8
660.9
7,410.5
963.8 1,035.0
822.6 1,014.1 1,026.0
936.7
987.7 1,015.4
do .
958.4
846.5 1,051.0
927.8
7,943.2
9,969.7
899.9
do.... 11,747.7 14,347.6 1,293.0 1,185.7 1,415.1 1,529.2 1,373.1 1,555.3 1,447.5 1,169.7 1,216.9 1,463.8 1,623.2 1,443.9 1,459.5
647.3
590.4
621.6
540.1
544.9
do
569.9
598.2
628.5
5,529.7
658.8
680.0
574.5
578.1
644.8
6,775.4
978.3
957.2
920.6
819.6 1,274.5
do....
801.4
965.4
946.8
8,216.7 10,116.5 1,018.8
848.4 1,123.2
839.2
918.1
do.... 14,113.9 18,364.4 1,633.7
1,406.3 1,602.3 2,137.9 1,848.7 1,629.0 1,643.9 2,093.6 1,556.0 1,713.5 1,744.3 1,813.1 1,677.5
537.9
493.8
255.3
157.0
do
191.3
288.0
478.4
628.4
576.8
523.5
706.9
459.0
2,199.5
3,649.6
363.7
do....
1,479.8
2,768.9
. 272.8
373.9
461.9
623.0
459.8
442.0
405.0
228.8
134.5
90.4
179.3
426.4
446.3
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
S-17
SURVEY OF CURRENT BUSINESS
February 1990
Annual
,, ..
1990
1989
1988
Units
1987
1988
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Nov.
Dec.
6,557.9
434.9
2,000.7
206.7
5,783.1
505.7
2,060.2
227.0
306.6
555.3
483.7
469.2
3,723.9 3,751.8
1 110 0 1 1204
327.3
286.8
699.6
581.7
965.7
1,010.3
443.4
514.2
4,072.6
1,160.5
344.7
706.1
1,125.2
Aug.
Sept.
Oct.
62285
4615
2,145 4
1887
6404 1
401 6
1,998.7
208.7
69629
458.6
2,346.0
255.0
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS— Continued
Exports (mdse.), incl. reexports — Continued
Western Hemisphere:
Canada A
mil $
Brazil
do
Mexico
do
Venezuela
do
Asia:
China *
do
Hong Kong *
do
Japan
do
59 814 3
4 039 9
14 582 2
3 586 0
71 6220
4 266 5
20 628 4
4 611 9
5 021 4
3 497 3
3 983 1 5 687 4
28 248 6 37 725 2
8 098 7 11 231 8
3,776.1
3,373.4
5,767.6
4,052.7
7,412.7 12,129.1
5 517 8
408 0
1 917 9
458 6
6 086 0 6484 8
3348
386 1
1 843 5 20521
3682
3840
3859
5339
379 3
5269
3 3156 29392
932 5
1 156 5
319.9
342.5
556.6
453.6
705.5
924.3
4992
4942
32921
9989
294.5
507.5
833.9
7 417 6
304 9
20917
2224
69580
434 5
2 154 3
2239
5 147 7
3955
20421
2156
471 0
404 4
581 8
589 0
5194
6020
41675 36369 36029
1 186 4 1 009 0 1 158 2
290.5
334.7
302.6
566.8
795.6
557.3
919.0 1,023.3 1,004.9
355 2
6596
39664
1 302 5
275.4
606.5
940.0
4562
7037
6447
585.8
5065
501 1
3,942.3 3,932.9 3,555.4
1 241 5 1 087 5 1 170 6
282.7
243.1
251.1
592.3
618.8
666.8
894.9
976.1
924.2
7 248 8
3334
21752
2877
7 0066
3480
20588
2479
r
Saudi Arabia *
do....
Singapore *
do ....
Taiwan *
do....
Africa:
33.6
38.6
39.2
37.7
27.3
112.8
33.1
40.7
19.4
31.7
43.5
27.5
356.7
Nigeria *
do ....
34.3
295.1
151.1
117.0
149.8
127.0
150.5
124.4
149.4
105.7
138.2
175.9
157.5
112.7
130.5
1,687.6
1,281.2
Republic of South Africa
do....
640.2
630.4
813.2
909.7
799.7
714.7
690.7
6815
689.2
6088
616.9
5519
69729
Australia *
do
8135
5494 8
993.8 1,098.1 1,036.2 1,475.1
920.6
974.5 1,088.0
1,326.0 1,164.5 1,154.0 1,124.5 1,103.8 1,101.4
OPEC *
do .... 11,058.1 13,994.3
r
Exports of U.S. merchandise, total @
do.... 245,115.0 310,049.1 27,676.5 26,320.5 26,881.7 31,688.5 30,224.8 30,109.9 30,289.3 27,641.2 28,533.7 28,842.1 30,691.5 29,085.5 29,708.6
By commodity groups and principal
commodities:
3,357.0 3,469.7 4,040.2 3,421.1 3,314.1 3,048.8 2,966.2 2,768.2 3,011.8 3,392.2 3,654.8 3,559.8
Agricultural products, total
do.... 28,636.2 37,046.6 3,510.7
Nonagricultural products, total
do .... 215,222.7 285,379.8 25,471.4 22,058.6 23,641.3 28,126.3 26,435.7 26,818.4 26,862.6 24,928.1 25,614.7 27,440.2 28,487.4 26,515.0 27,622.7
2,384.0
2,240.0 2,413.1 2,918.2 2,497.1 2,579.4 2,396.5 2,533.6 2,332.4 2,398.1 2,401.6 2,540.8 2,473.0
Food and live animals #
mil. $.. 19,178.8 26,701.2
566.9
570.9
477.7
446.4
384.0
434.7
452.6
491.4
433.0
398.7
469.6
3,666.7
383.9
445.4
4,608.4
Beverages and tobacco
do....
Crude materials, inedible, exc.
fuels #
do
20416 3 25 524 5 2485 6 20836 22721 2,621 4 22623 22335 22185 2,178.5 2,045.8 2,058.6 2,343.4 2,184.5 2,444.5
945.9
981.1
886.9
841.1
842.5
717.6
783.0
831.1
871.0
813.9
673.0
678.2
867.1
Mineral fuels, lubricants, etc. #
,do....
8,278.5
7,713.1
Oils and fats, animal and vege1050
86 4
113 2
124 4
1653
109 0
93 2
105 1
105 7
127 8
115 0
99 6
116 3
table
do
1 538 4
981 4
Chemicals
do.... 26,380.9 32,644.5 2,801.9 2,561.0 2,860.9 3,231.2 3,328.0 3,406.5 3,364.9 3,111.4 3,067.5 2,992.5 2,943.0 2,821.4 2,796.8
Manufactured goods classified chiefly
17 136 1 24 525 5 2379 2 1 769 6 2 1064 2 5958 2266 1 2 354 2 23727 2 158 1 2351 8 23325 24705 2 226.0 2,239.1
Miscellaneous manufactured
articles *
do
19 409 0 25 820 7 2 507 4 J 2 1722 24233 29659 26505 26723 30451 2,671.9 2,733.9 2,797.3 2,781.2 2,792.3 2,931.6
Machinery and transport equipment,
total
mil $ 108 596 0 142 375 4 13 129 2 10 102 1 11 231 6 13 788 9 12 839 1 12 533 6 12 797 5 11 8107 11 9658 13 212 1 13 508 6 11 864.8 13,145.1
69 637 0 88 432 0 8 381 4
Transport equipment total
do
38 959 0 46 702 8 4087 5
Motor vehicles and parts
do .... 20,878.8 24,019.7 1,957.9 2 1,744.0 2,049.2 2,260.2 2,143.3 2,124.2 2,038.4 1,403.5 1,668.5 1,944.8 2,171.5 2,080.5 1,982.1
VALUE OF IMPORTS
General imports, total @
Seasonally adjusted "|"
Western Europe *
European Economic Community *
Belgium and Luxembourg *
France
Federal Republic of Germany
Italy
Netherlands *
Eastern Europe *
Union of Soviet Socialist Republics
Western Hemisphere:
Canada
Brazil
Mexico . .
Venezuela
Asia:
China *
Hong Kong *
Japan
do.... 406,241.0 440,952.3 39,383.9 36,032.1 36,687.1 40,146.8
do
39 668 4 37 877 3 38 220 3 39 549 0
do.... 95,496.1 100,442.8 9,490.7 7,284.2 8,313.1 9,209.7
do.... 81,188.0
8,028.1
84,938.5
6,071.8 6,772.5 7,721.1
do....
436.4
379.3
4,493.3
4,170.9
307.3
361.4
do
107302 12 508 5 1 1023
927 4 1 053 3 1 128 0
do
27 069 3 26 361 9 2649 1 1 902 1 1 9583 2*334 5
do
11 039 6 11 576 0 1 025 6
8261 1 1429
763 2
do
4012
45589
39636
4393
3560
411 4
17 341 3 17 976 4 1 735 4 1 211 7 1 520 2 1 586 4
do
204 2
2 162 6
159 6
1 9226
203 3
233 4
do....
424.7
586.0
104.5
73.8
42.4
mil. $..
do...
do
do ....
71,085.0
7,865 4
20 270 8
5,579.0
81,397.9
9,294 3
23 259 7
5,157.4
6,476.8 7,891.3 7,295.8
7312
6727
7596
1 967 1 1 977 9 2 141 5
404.5
416.3
519.5
do
do
do
6 293 5
9 854 1
84 575 0
16 986 9
4*433 1
6 201 0
24,621.8
8 510 9
10'237 8
89 518 7
2o'l05 1
5*620 2
7*973 3
24,713.9
818 2
915 6
8 477 7
1 937 4
'590 5
773 5
2,112.9
787 7
8107
64726
80.9
7,636.2
6747
2278 8
546.4
38,185.1 40,895.7
39 044 7 40 534 3
8,389.4 8,667.3
6,935.3 7,212.9
394.1
404.1
1 1620 1 034 7
2 091 6 2 086 1
9798
9253
3709
3469
1 397 8 1 681 6
144 7
153 3
64.4
7,483.2
7134
2377 0
553.5
40.6
8,138.8
6271
2 5437
632.1
932 6
727 7
668 6
823 3
743 3
6349
622 5
6957
7 942 1 8390 8 7 530 2 7 884 2
1 488 5 1 613 3 1 553 6 1 661 2
587 6
623 7
*512 5
*563 4
780 0
686 6
709 7
598 3
1,822.7 1,708.9 1,863.7 2,092.0
40,494.1
39 292 8
8,539.3
7,172.0
397.8
13000
19806
10533
377.2
1 378 7
190 2
81.9
39,456.4
38,709 0
8,811.5
7,466.5
420.1
1 111 7
2,155 1
1,1802
406.1
1 514 7
1860
63.5
40,513.9
40,662.1
8,249.7
7,146.1
299.5
1011.2
2,064.0
1,113.7
375.2
1 655 5
1667
54.8
r
38,605.8 43,404.3 r40,913.4
39,193.5 41,283.1 40,665.5
7,660.7 9,330.7 9,092.5
6,397.4 7,780.4 7,611.6
418.1
409.1
372.5
949.0 1,127.8 1,161.5
1,836.1 2,233.4 2,140.5
775.1 1,136.6 1,095.6
445.5
491.5
388.0
1 496 4 1 724 6 1 674 9
164.7
173.8
168.9
52.2
37,591.1
38,277.7
8,176.8
6,843.5
331.3
1,061.9
2,051.4
954.0
398.3
1 399 8
145,1
56.1
47.7
44.5
6,755.9
608.1
2,067.1
650.8
941.7
747.8
7,557.7
1 486 3
6885
8500
1,851.2
7,506.6
829.5
2253 2
542.6
5,619.1
759.1
2 1600
526.7
7,393.0
788.8
23802
552.7
7,014.3
635.7
2216.5
541.1
7,794.9
729.4
2,436.4
650.8
7,680.9
609.4
2,354.0
665.2
1 016 6
808 1
7 906 5
1 699 0
630 7
692 0
2,131.2
1 1549
8759
7 9854
1 748 7
584 5
729 2
2,182.0
1,283 7
968.8
7 914 8
1 754 6
654 4
795 3
2,384.6
1,183.0
889.0
76188
1 691 5
564 3
818 5
2,176!5
1,338.4
1,058.4
8631 1
1 782 1
534 g
850 3
2,290.7
1,130.4
883.6
7751.6
1 6500
674 3
820 1
1,990.9
S d' A b' **rea
do....
*562 6
^. l Ta *
oo....
619 7
Taiwan *
do ....
1,831.3
Africa:
398.9
453.2
330.5
492.7
483.6
653.0
Nigeria *
do ....
490.6
523.4
313.3
3,573.4
404.7
323.2
269.6
3,278.5
359.3
111.3
132.9
123.6
130.6
123.1
111.6
Republic of South Africa .
do
1361
1402
1290
1236
145 5
1 5129
1 345 5
121 5
119 8
346.4
359.2
380.2
317.0
311.2
340.5
332.0
Australia *
do....
326.7
271.6
309.4
307.8
274.3
3,541.3
3,007.2
296.3
OPEC *
do
23 953 1 22 962 2 1 9843 2 2339 1 997 6 22164 2458 0 2900 6 2 6404 27894 28179 2,489.5 2,595.7 2,824.8 2,636.8
By commodity groups and principal
commodities:
Petroleum and products *
mil. $.. 42,285.4 38,786.5
3,558.0 3,281.3 3,737.7 4,135.8 4,834.0 4,294.9 4,364.2 4,399.2 4,081.9 4,409.1 4,427.4 4,100.4
3,338.5
Nonpetroleum products *
do
3636152 402 165 8 36 045 4 32 339 2 34 278 9 36 174 3 34 088 0 36 240 2 35 985 6 34,690.8 36,632.8 34,417.3 38,922.9 36,512.1 33,490.7
1,793.8 1,514.2 1,728.3 1,702.3 1,689.3
Food and live animals #
do.... 20,547.1 20,109.8 1,769.6 1,924.0 1,771.6 1,792.4 1,689.4 1,810.5 1,657.1 1,612.6
336.9
454.5
490.8
371.5
Beverages and tobacco . .
do
371.5
327 1
3353
321 1
3585
3245
301 2
354 4
4 104 9
371 1
41226
Crude materials, inedible, exc.
fuels #
do.... 11,525.7 13,624.4 1,161 5 1,325 0 1,207.1 1,405.7 1,283.5 1,373.7 1,284.8 1,180.8 1,389.8 1,239.1 1,297.5 1,227.0 1,156.3
Mineral fuels, lubricants, etc
do.... 44,219.5 41,041.5
3,605.2 3,816.0 3,567.3 4,024.4 4,392.2 5,104.1 4,542.9 4,603.1 4,657.8 4,326.7 4,652.2 4,636.0 4,326.0
Oils and fats, animal and vege69.3
63.1
68.7
table
do ....
48.9
64.8
59.3
69.0
568.1
80.1
62.4
38.3
62.2
44.7
86.5
887.5
Chemicals
do
162134 19 559 7 17062 18196 17232 19232 17042 17380 17762 1,656 8 1,723.0 1,534.3 1,857.4 1,735:4 1,561.0
Manufactured goods classified chiefly
by material . .
mil $
53 356 3 62 249 0 5087 2 5 2755 50784 52944 5 1303 53652 52702 51716 5,471.5 4,918.2 5,533.1 5,121.6 4,361.4
Miscellaneous manufactured
articles *
do
65 183 1 69 748 9 5937 5 5409 0 5 616 5 5 6750 5375 6 6 081 4 6 6267 7 1579 75434 68653 7,702 3 6,750.1 5,836.0
Machinery
and
transport
equipment
do ... 177,808.7 197,016.7 18,477.4 14,969.5 17,077.4 18,288.0 17,195.9 18,021.1 17,518.2 16,233.1 16,741.1 16,436.0 18,446.2 17,911.3 16,923.2
Machinery total #
do
99 432 9 117 281 0 10 807 4
Transport equipment
do
78 375 8 79 772 4 7 538 4
Motor vehicles and Darts
do... 70.763.8 71.065.0 6.814.5 2 5.472.5 6.218.4 6.510.0 6.031.9 6.123.8 5.801.1 5.029.5 4,907.8 5.221.1 6.193.5 6,112.6 5,718.3
See footnotes at end of tables.
Jan.
S-18
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
methodological notes are as shown in
BUSINESS STATISTICS: 1986
February 1990
1988
Ann ual
1990
1989
Unlts
Dec
Oct
P
Jan
FOREIGN TRADE OF THE UNITED STATES—Continued
Indexes
Exports of U.S. merchandise:
Unit value @
Quantity
Value
General imports:
Unit value @
Quantity
Value
158.6
127.0
201.4
169.6
149.8
254.1
176.3
159.0
280.4
174.0
144.6
251.7
172.5
155.7
268.5
175.5
181.5
318.6
174.6
169.4
295.7
175.6
169.9
298.4
176.6
167.7
296.2
177.2
155.9
276.2
( 33 )
( )
(3)
164.6
169.2
278.5
172.9
175.1
302.7
174.4
182.9
318.9
176.2
168.4
296.7
177.5
174.2
309.3
179.7
182.8
328.7
181.5
173.4
314.8
182.3
185.6
338.2
181.5
182.8
331.7
181.4
177.3
321.6
(3)
324,125
99,011
361,173
125,782
34,266
11,995
29,117
10,672
28,962
11,721
34,760
13,277
33,036
12,564
34,284
12,756
34,563
11,957
29,061
11,989
30,188
11,736
23,165
8,878
427,913
245'030
464,606
254/766
43,501
23^213
38,364
19^959
36,814
2liO!5
39,414
22^283
38,573
21,372
44,918
23,426
41,664
23,109
44,013
24,113
44,960
23,835
40,768
21,667
1977 = 100
do
do
do
do
do
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight
thous. met. tons..
Value
mil $
General imports:
Shipping weight
thous met tons
Value
mil. $..
(3)
(3)
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers
Certificated route carriers:
Passenger-miles (revenue)
bil..
Passenger-load factor
percent
Ton-miles (revenue), total .
mil
Operating revenues (quarterly) # §
mil. $ ..
Passenger revenues
do
Cargo revenues
do
Mail revenues
do
Operating expenses (quarterly) §
do
Net income after taxes (quarterly) §.. . . do .
Domestic operations:
Passenger-miles (revenue)
bil
Cargo ton-miles .
.
mil
Mail ton-miles
do ....
Operating revenues (quarterly) §
mil $
Operating expenses (quarterly) §
do....
Net income after taxes (quarterly) §
do....
International operations:
Passenger-miles (revenue)
bil
Cargo ton-miles
mil
Mail ton-miles
do
Operating revenues (quarterly) §
mil $
Operating expenses (quarterly) §
do...
Net income after taxes (quarterly) §
do
Urban Transit Industry
Passengers carried total "j"1
404.47
623
50469
1
56 787
44 918
J
6434
924
1
54 339
465
423.30
62 5
53 800
1
63
633
1
50 296
J
7 478
1
972
1
60
136
J
1785
33.48
583
4413
16030
12474
2 017
269
15495
240
32.18
562
4 099
29.37
569
3834
36.03
650
4670
16385
12768
2 199
236
16 075
189
33.57
620
4373
35.38
625
4 535
40.05
697
5030
17 632
13 803
2 142
237
16497
577
41.90
69 5
5 200
44.38
724
5441
34.70
60 5
4 500
36.15
61 9
4 711
33.79
605
4470
32469
4 340
1,313
J
45 658
1
43,925
'66
32931
4843
1,367
1 50 052
1
47,562
1
1,027
26 22
413
169
12744
12,243
162
24 85
363
112
23 28
368
107
2845
431
125
13 160
12,761
-12
2610
411
114
26 94
418
110
29 93
420
109
13 977
12,823
615
30 93
404
101
3297
420
114
2542
424
109
2764
453
114
2637
429
119
7 26
423
61
3233
3201
77
7 33
371
36
599
389
35
7 58
470
41
3 210
3 296
176
7 48
451
39
8 44
432
38
10 12
457
38
3 640
3657
38
10 97
467
38
11 41
427
41
9 28
461
36
8 51
489
40
7 42
498
44
709
720
753
785
756
764
688
760
734
rnil
Motor Carriers
Carriers of property, large, class I, qtrly.:
Number of reporting carriers
Operating revenues, total
mil $
Net income, after extraordinary and prior
period charges and credits
mil $
Tonnage hauled (revenue), common and
contract carrier service
mil tons
Freight carried— volume indexes, class I and II
intercity truck tonnage (ATA):
Common carriers of general freight,
seas, adj
1967 = 100 ..
1
See footnotes at end of tables
8 766
8950
740
100
18 668
100
4964
100
4 715
100
5055
100
5,094
100
18 398
dollars
% of total..
297
2
464
127
80
135
109
'170
45
41
43
43
163.8
177.2
178.3
26,623
25798
95
23881
1 752
1989
1
27, 979
1
943 7
1 0004
27 135
85
1
24 883
"I
961
2
2319
177.6
169.2
7 107
6 886
21
166.7
172.2
172.7
172.5
6 281
490
715
6996
6 779
22
6 265
443
507
7,105
6 893
23
6205
593
635
2540
249 2
2546
168.5
165.8
106.9
106.9
227
2,379
197
1,254
248.4
251 1
272
85 12
71
47.36
72
262
7901
68
48.66
75
217
8073
72
47.74
75
245
8638
69
44.21
63
256
9296
74
44.91
68
3801
69
40 80
77
40 25
80
40 16
79
3743
67
3699
68
2
1 902
2
1,850
2
1709
2
416
5,044
4 504
4,682
3654
3 158
396
7,722
230
6,525
232
4,865
105.9
105.9
106.0
106.0
106.3
223
82 58
68
47.79
62
236
85 12
66
45.88
64
241
8540
52
43.33
48
192
8878
58
44.17
54
224
91 84
68
48.15
66
252
89 43
70
49.22
72
240
89 88
72
47.80
69
290
89 63
70
46.32
68
32 87
64
40 62
65
35 03
49
35 31
53
39 15
66
39 32
65
39 05
67
;
17 583
1
17,209
;
3 829
3,943
3247
2 939
223
1,304
323
1,441
4 189
3,763
3166
2 830
424
2,323
160.6
6,864
6631
23
5,886
673
578
106.9
105.8
375
3,081
164.3
106.7
105.4
283
1,516
169.0
106.7
104.8
13 804
'12 211
4,061
55,422
158.6
106.8
100.1
'11 005
16,425
11 639
10 239
4,872
55,782
1
1
1
1
181
J
Travel
Lodging industry:
Restaurant sales index.. ..same month 1967 — 100 .
Hotels' Average room sale A
dollars
Rooms occupiea
% of total
Motor hotels: Average room sale ()
dollars ..
thous
do....
do
do
do....
do...
93 99
4 789
470
;
13 332
7
121 361
720
1
Class I Railroads t
Financial operations, quarterly (AAR),
excluding Amtrak:
Operating revenues, total #
mil. $..
Freight
do
Passenger, excl Amtrak
do
Operating expenses
do
Net railway operating income
do
Ordinary income |
do
Traffic:
Revenue ton-miles, qtrly. (AAR) .
bil
Producer Price Index, line haul
operations
12/84 = 100 ..
Economy hotels: Average room
sale Q ..
Rooms occupied
Foreign travel:
U.S. citizens' Arrivals (quarterly)
Departures (quarterly)
Aliens: Arrivals (quarterly)
Departures (quarterly)
Passports issued
National parks, recreation visits ##
79 83
3 921
443
10925
10226
J
307
J
1 281
300
10,252
2
75.8
2
2 017
2
1,671
2
1655
2
1 679
289
10,019
292
SURVEY OF CURRENT BUSINESS
February 1990
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
,, .
V"
Annual
1987
S-19
1988
1988
1990
1989
Dec.
Jan.
Feb.
Mar.
Apr.
June
May
July
Oct.
Sept.
Aug.
Dec.
No,.
J.n.
TRANSPORTATION AND COMMUNICATION—Continued
COMMUNICATION
Telephone carriers: 0
Operating revenues #
Station revenues
Tolls, message . .
Operating expenses (excluding taxes)
Net operating income (after taxes)
Access lines
rnil $
do
do
do
do....
mil ..
74,657
31,669
9,171
50,384
13,370
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
Production:
Aluminum sulfate, commercial (17% Al2Oa)
1,232
1,227
thous. sh. tons ..
11,257
Chlorine gas (100% C12)
do
11,078
r
r
Hydrochloric acid (100% HC1).. ..
do
2,640
2,996
r
Phosphorus, elemental
do
343
344
Sodium hydroxide (100% NaOH)
do.... 11,553 10,527
r
Sodium silicate anhydrous
do
812
952
r
Sodium sulfate (100% Na2SO4)
do
817.
'799
Sodium tripolyphosphate
r
549
586
(100% Na5P3Oio)
do..
Titanium dioxide (composite and
pure)
do
1,022
968
Sulfur, native (Frasch) and recovered:
Production
thous. met. tons .. 1 9,363 1 9,450
Stocks (producers') end of period
do....
1,112
2,316
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous :j:
16,821
thous. sh. tons .. 16,098
Ammonium nitrate, original solution :!:
do
7,504
6,547
Ammonium sulfate "'"
do
2,333
2,189
Nitric acid (100% HNO3) t
do
7,225
7,991
Nitrogen solutions (100% N) :j:
do....
2,902
2,385
Phosphoric acid (100% P2O5) $
do.... 10,619
11,677
Sulfuric acid (100% H2SO4) :|:
do.... 39,256
42,141
Superphosphate and other phosphatic
fertilizers (gross weight):
Production .
thous sh tons
15,674
16,858
Stocks, end of period
do
704
879
Potash, sales (K2O)
do....
6,204
5,705
Imports:
Ammonium nitrate
thous. met. tons..
267
279
Ammonium sulfate
do....
337
259
Potassium chloride
do
6,796
6,613
Sodium nitrate .
do
131
93
Industrial Gases
Production:
Acetylene
mil cu ft
4,948
5,284
Hydrogen (high and low purity)
do.... 149,217 143,819
Nitrogen (high and low purity)
do.... 675,843 719,371
Oxygen (high and low purity)
do.... 402,644 448,695
Organic Chemicals §
Production:
Acetylsalicylic acid (aspirin)
thous. met. tons..
10.8
'10.9
;
Ethyl acetate
do ....
97.1 7 115:3
Formaldehyde (37% HCHO)
do.... 1 2,600.5 1 2,848.8
Glycerin, refined, all grades
mil. lb..
281.7
276.4
Methanol, synthetic
thous. met. tons 1 3,418.2 1 3,692.8
Phthalic anhydride
do....
469.6
'452.9
ALCOHOL
Ethyl alcohol and spirits:
Production
Stocks, end of period
Denatured alcohol:
Production
Consumption (withdrawals)
For fuel use
Stocks, end of period
See footnotes at end of table
100
961
217
r
29
896
66
r
67
r
r
91
974
227
30
1,039
64
71
89
946
222
26
997
88
64
109
955
238
31
1,028
68
68
97
972
221
29
1,023
74
66
102
930
249
31
988
71
67
107
910
243
32
972
71
70
104
949
241
32
1,031
72
64
114
913
241
31
985
77
62
103
918
224
28
992
73
61
105
942
225
31
1,008
82
64
r
98
r
912
r
213
31
r
991
r
76
58
94
916
207
33
976
59
65
46
38
49
46
49
46
55
50
50
47
50
49
44
91
93
92
87
96
92
93
97
92
92
96
86
95
931
1,112
935
1,101
794
1,122
925
1,159
902
1,252
908
1,310
891
1,387
893
1,498
868
1,483
819
1,500
836
1,492
808
1,370
827
1,313
1,510
1,529
1,342
1,494
1,471
1,505
1,433
1,380
1,268
1,292
1,390
1,400
1,374
695
210
724
282
1,074
3,890
687
201
726
263
1,007
3,790
612
188
660
243
936
3,496
675
199
715
258
1,045
3,821
673
207
701
261
966
3,659
684
206
714
269
965
3,687
628
200
666
245
869
3,291
600
198
640
247
927
3,504
573
195
616
204
971
3,691
564
191
593
228
958
3,541
637
194
661
250
1,012
3,716
606
200
r
653
r
220
980
'3,613
618
175
646
225
923
3,590
1,604
879
548
1,592
860
579
1,400
989
344
1,640
970
401
1,640
913
731
1,594
874
637
1,366
1,011
238
1,455
962
256
1,472
826
529
1,429
769
409
1,578
852
489
1,540
943
414
1,422
937
762
4
40
4
23
710
4
11
46
6
396
14
37
53
541
14
46
48
659
11
38
30
427
21
46
14
261
22
21
9
89
2
29
19
472
12
24
16
495
6
29
48
558
()
26
21
460
13
29
21
431
23
444
10,498
61,071
38,522
425
10,955
57,539
36,668
480
11,554
63,163
39,735
450
11,145
61,005
37,721
347
11,214
62,200
40,190
381
12,377
58,734
39,158
343
11,607
61,434
38,801
422
11,773
62,645
38,177
460
11,421
61,174
36,301
511
11,475
r
63,528
36,169
462
10,990
61,947
36,349
44
32
558
8
484
11,209
61,382
39,353
2.0
32.5
786.3
19.4
950.4
132.4
4
5
24
340
731.0
24.9
S
752.1
5
130.0
5
5
27.7
20.9
24.0
28.5
2.4
31.8
740.6
22.0
9016
1303
23.4
23.1
1.8
31.3
715.7
25.7
874.8
122.2
mil tax gal
do
730.3
43.4
777.3
39.7
67.8
39.7
82.2
45.0
69.8
48.1
68.9
46.2
68.6
43.4
79.3
45.7
76.1
39.7
77.6
44.9
81.0
40.5
89.0
42.5
mil wine gal
do....
do
do
442.5
460.8
208.3
9.7
463.5
469.7
216.0
9.2
42.2
39.7
17.2
9.2
38.1
37.8
17.0
9.1
38.9
38.0
13.3
8.8
43.4
42.1
12.8
9.2
34.5
36.3
14.4
7.6
47.7
45.8
17.1
9.3
44.6
45.6
16.5
9.8
39.0
39.9
14.5
7.9
44.5
40.9
15.8
8.8
45.8
41.3
16.7
13.2
2
27.2
r
26.2
S-20
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through l!)8(i and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
Annual
,, ..
February 1990
1988
1990
1989
Unlts
1987
1988
Jan.
Dec.
Mar.
Feb.
Apr.
May
June
July
Sept.
Aug.
Oct.
Nov.
Dec.
1
CHEMICALS AND ALLIED PRODUCTS—Continued
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
thous. met. tons..
Polyethylene and copolyrners. ..
do
Polypropylene
.....<
do....
Polystyrene and copolyrners
do
Poly vinyl chloride and copolyrners
do . .
2
769.8
'1 881 0
3,164.8
2
37570
1
3 7820
7653
'8479 6
1
3,291.6
41662
PAINTS, VARNISH, AND LACQUER i
Total shipments
*»
mil $
Architectural coatings
'.
do....
Product coatings (OEM)
do ...
Special purpose coatings ....<
do....
10 167 6
4,245.4
3,782 5
2,139.7
10716 1
4,372.1
4,062 9
2,281.1
1
;
2 156 1
764.8
4
2 004 6
4
759.7
1 898 4
789.8
1 913 2
707.7
3 895 5 1 058 5
4
1093 2
1 031 5
1 056 5
751 5
281.2
3147
155.5
820 5
309.4
3445
166.6
841 3
317.7
3593
164.4
952 6
387.3
369.3
196.0
985 7
399'.!
3726
213.9
1 072 7
464.4
3820
226.2
1 091 5
464.8
3932
233.5
965 9
431.0
3198
215.1
1 114 4
484.2
381 6
248.7
1 019 7
414.4
3808
224 5
258 335
238 148
20 187
226 861
207 938
18 923
995 9
399.0
3795
217.4
934 9
361.1
3616
212.1
772 4
298.3
3088
165.3
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production:
2 572 127 2 701 624
Electric utilities total.
mil kw -hr
By fuels . .
.
do
2 322 432 2 478 686
By waterpower . . . .
do
222 938
249 695
Sales to ultimate customers, total (Edison
Electric Institute) <0
mil. kw.-hr.. 2,435,483 2,549,909
Commercial §
do
695 181
658 445
Industrial §
do
880 947
843 709
Railways and railroads
.do .
5110
4898
Residential or domestic
do ..
846,457
885,146
Street and highway lighting
do....
14,537
14,386
Othef public authorities
do
63047
64 598
Interdepartmental
do ....
4,541
4,392
Revenue from sales to ultimate customers
(Edison Electric Institute) 0
mil $
155 700
162 188
GAS it
Total utility gas, quarterly
(American Gas Association):
Customers, end of period, total @
Residential
Commercial i
,
Industrial @
Other
,
Sales to customers, total
Residential
.
Commercial
Industrial
,
Electric generation
Other
,
.
Revenue from sales to customers, total
Residential
Commercial
Industrial
Electric generation
Other
thous
do
do
do
do
tril. Btu
do
do
do
do
do
mil $
do
do
do
do
do . ..
232 550
212 637
19 913
231 343
211*378
19 965
219 066
200 447
18620
226 436
203 794
22 642
614,775
167 127
221 204
1294
203 879
3,881
16 150
1239
648,311
169 383
217 772
1,358
238,476
3,758
16573
207 749
183 674
24 075
219 803
191 771
28 033
235 397
209 515
25 881
256 744
234 074
22670
708,773
203 271
233 394
1 273
250 044
990
611,933
170 802
225 488
1233
193 532
3347
16 388
1 141
38559
40087
39 076
48 125
53 143
48761
4 162
'l69
51786
47,564
3 989
52683
48,377
4 088
52683
48377
4 088
53552
49,109
4 210
179
54
10,543
4385
168
50
168
50
10691
2801
177
55
4002
4 692
2304
2204
1331
1 319
2 152
2156
2339
1509
155
160
634
607
190
51
961
622
209
58
45492
23 622
10,271
7,279
3789
46109
24812
10,670
6,702
3387
12 514
18 564
8 531
7017
2,953
1,812
11230
4,659
1,938
4 496
1913
1,335
530
539
570
161
499
239
669
117
219 134
199 058
20 076
3486
16 064
1 241
51
1 932
791
408
= 438
263
32
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
.
mil bbl
Taxable withdrawals
do
Stocks, end of period * .
do
Distilled spirits (total):
Production
mil tax gal
Consumption, apparent, for beverage
purposes t
mil wine gal
Stocks, end of period
.mil. tax gal ..
Imports
mil. proof litersWhisky:
Production
mil. tax gal
Stocks, end of period
do
Imports
mil proof liters
Wines and distilling materials:
Effervescent wines:
Production
mil wine gal
Taxable withdrawals
do
Stocks, end of period
do
Imports
mil. liters..
Still wines:
Production
mil wine gal
Taxable withdrawals
do
Stocks, end of period
. do
Imports
.
mil liters
Distilling materials produced at
wineries
mil. wine eal ..
See footnotes at end of tables.
19542
177 85
< 1294
19802
17823
13 23
1332
1223
13 23
15 88
14 09
13 38
15 29
13 20
13 84
17 57
15 41
14 24
17 30
1488
14 99
18 40
1678
14 72
18 75
16 94
14 35
18 28
16 23
14 60
18 35
17 41
14 33
15 28
14 77
13 56
15 82
14 32
13 06
14 78
1340
12 86
76 51
9473
8 13
9 17
9 41
11 42
9 88
9 70
8 93
4 77
6 64
1031
388 22
45500
404.60
378 20
420 92
363.20
44 96
42092
26.50
2506
3025
2842
389
37
3
24.14
26 61
423 94
28.23
427 12
24.44
429 09
26.66
30 63
433 04
30.52
31 70
423 77
23.97
27 86
40570
24.63
29 90
422 59
33.85
28 47
413 86
32.90
54.08
40.00
25.13
38 33
39372
268 50
48 27
364 56
231 90
5 56
364 56
16 50
6 21
333
10
3
15 61
675
367 47
17'l5
9 13
371 45
14 45
8 12
373 97
1580
7 97
375 97
1935
6 45
370 86
1446
2 60
325 93
13 36
5 24
370 53
21 44
5 56
361 28
18 34
36 46
2321
14 34
3072
29 27
18 65
49.30
2 62
354
1865
4.90
277
1 21
16 53
3
1.91
2 02
1 25
17 28
2.10
2 14
1 33
18 32
2.74
2 76
1 79
19 57
3.43
3 48
2 80
19 44
4.11
3 09
4 17
24 99
7.82
17.63
442 83
451 80
60297
31200
47095
4503
3435
58677
19 60
10 34
2975
579
30
3
14 98
563
29 40
544 93
13 55
4 12
3246
53843
21 02
473
33 97
53681
19 88
147 12
34 12
538 39
17 76
119 11
34 28
586 15
28 51
145.90
131.76
7.01
4.01
3.23
4.95
4.58
28.12
24.72
27 89
3004
• 14 99
52.50
r
445 17
58677
257 40
220
1 27
17 66
2.38
1 76
208
17 85
3i27
2 33
2 10
lg'07
2.50
2 18
1 27
1876
.2.43
21 48
6 36
41 54
533 86
18 68
5 26
31 62
439 14
18 03
36 56
38 66
396 84
20 44
4.93
5.56
5.09
12.24
5 13
35 88
53569
27 97
4.64
19 75
Jan.
SURVEY OF CURRENT BUSINESS
February 1990
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
IT
Annual
.,ls
1987
S-21
1988
1988
Dec.
1990
1989
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov..
Jan.
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS
Butter:
Production (factory)
mil. lb..
Stocks, cold storage end of period
do
Producer Price Index
1982=100 ..
Cheese:
Production (factory) total
mil lb
American, whole milk
do....
Stocks, cold storage, end of period
do
American, whole milk
do....
Imports
thous met tons
Price, wholesale, Cheddar, single daisies
(Chicago)
$ per lb
Condensed and evaporated milk:
Production case goods
mil lb
Stocks, manufacturers', case goods, end of
period
..
do
Exports.....
thous. met. tons..
Fluid milk:
Production on farms "|"
.. . mil. lb
Utilization in manufactured dairy
products.
do
Price, wholesale, U.S. average
$ per 100 lb ..
Dry milk:
Production:
Nonfat drv milk (human food)
do
Stocks, manufacturers', end of period:
Dry whole milk ... .
do
Nonfat dry milk (human food)
do....
Exports, whole and nonfat
(human food)
.
thous. met tons
Price, manufacturers' average selling, nonfat
dry milk (human food)
$ per lb..
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye,
wheat)
.
mil bu
Barley:
Production (crop estimate)
mil met tons
On farms
..
do
Off farms
do
Exports, including malt §
thous. met. tonsProducer Price Index, No. 2 feed,
Minneapolis
1982=100 ..
Corn:
Production (crop estimate, grain
only)
mil. met. tons
Stocks (domestic) end of period total
do
On farms. ...
do
Off farms
do
Exports, including meal and flour
do ....
Producer Price Index, No. 2, Chicago
1982=100..
Oats:
Production (crop estimate)
mil. met. tons..
Stocks (domestic), end of period,
total
do
On farms
do....
Off farms
do
Exports, including oatmeal
metric tons..
Producer Price Index, No. 2, Minneapolis
1982 = 100..
Rice:
Production (crop estimate)
mil. met. tons
Southern States mills:
Shipments from mills, milled
rice
do
Stocks, domestic, rough and cleaned (cleaned
basis) end of period
mil lb
Exports
thous. met. tons..
Producer Price Index, medium grain,
milled
1982 — 100
Rye:
Production (crop estimate)
mil met tons
Producer Price Index, No. 2,
Minneapolis .
1982 — 100
Wheat:
Production (crop estimate), total
mil. met. tons ..
Spring wheat... .
do
Winter wheat
do
Distribution, quarterly @
do....
Stocks (domestic) end of period total
do
On farms
do
Off farms
do....
Exports, total including flour
do
Wheat only
mil bu
See footnotes at end of tables.
107.7
2562
84.7
1,104.1
143 2
95.3
1,207.5
214 7
S
90.8
112.0
214 7
92.1
129.0
246 6
89.1
124.7
3144
88.6
135.7
341 9
88.5
124.7
379 1
88.5
122.5
4383
88.5 ..
95.3
464 2
88.5
72.2
461 0
88.3
80.1
439 2
90.5
82.1
407 6
'89.4
92.7
3704
85.7
93.6
2941
85.7
5344 2
2,716.7
457 1
367.4
1202
5571 6
2,756.6
3881
283.4
114 6
486 5
235.0
3881
283.4
122
456 6
225.6
3953
283.8
11
14
4195
208.7
4023
290.9
69
4884
231.9
3947
283.8
87
4726
236.2
4051
288.1
80
494 9
247.0
4231
307.3
82
485 5
240.0
4296
309.1
88
464 6
226.8
4270
308.7
102
4604
214.0
418 1
300.5
123
4472
200.3 367.2
. 268.4
129
4530
206.8
327.2
246.0
13 3
454 2
210.2
328.4
233.0
14 5
579 7
588 7
45 6
445
41 5
49 0
47 7
47 0
486
42 5
420
378
373
338
388
318
24
44 1
35
441
.1
594
".2
751
2.5
852
1.9
905
3.1
1026
1.2
1175
1.4
1165
1.6
1167
.5
98.7
.5
69.7
.3
42.8
.3
26.6
.4
121,294 123 518
10218
10,453
9,'699
10,825
10,696
11,027
10,327
10,183
10,074
r
26LO
74.0
•4827
228.7
r
325.9'
r
232.6
155
358.4
259.1
(9)
r
r
r
r
9,654
10,047
10,431
84720
12.53
85072
12.22
6948
13.50
7189
13.40
6878
13.10
7866
12.70
7654
12.30
8075
12.20
7553
12.30
6851
12.60
6970
13.20
6505
14.00
6,525
14.70
6,430
15.50
6,865
16.10
16:10
1459
1 0568
172 3
978*5
142
758
153
87 1
139
85 6
13 5
957
14 3
998
14 1
99 8
139
81 0
127
608
14 5
53 9
139
463
17 6
480
16 6
508
176
62 5
80
65.1
128
45.1
128
45.1
12.9
60.4
10.9
79.8
101
84.6
117
97.9
10.1
98.4
109
77.5
9.0
66.7
8.9
56.9
6.2
44.6
8.0
36.1
10.0
32;4
13.0
49.4
1759
1531
146
"60
80
162
179
175
249
18.9
20.3
14.7
.793
.773
.849
.853
.841
.816
.828
.834
.854
.908
.979
1.064
29204
2
11 354
6
7 322
6
4221
6
3 101
3,114.5
">85.7
2
181 14
7
248 19
7
154 95
7
9325
40.81
34483
4 129
2,244.4
8
110.4
S
5 424
6
1927
6
1499
6
427
30,213
™92.5
2
5 879
97.1
2
336.1
"6.4
110.2
114.9
118.6
4
4 276
4
1.840
4
47.9
308.6
2 436
223.8
171.4
225.7
9 078
5.516
3 562
213.1
130.1
132.2
130.6
106.6
117.5
114.9
1.5
1.410
1.309
192.6
110.9
7689
4.092
3597
110.4
224.2
112.3
112.8
109.7
114.9
4.6
5
4.38
106.4
5.17
108.7
111.6
113.0
;
49 04
;
2458
;
5
86 85
3
51 36
3
"132 19
"7674
"5545
3.94
"4.46
4.51
106.9
35 49
5.38
568
111.1
103.1
339
102.4
2446
2.72
2.90
4.45
179:82
119.36
60.46
7.47
94.8
94.7
91.8
95.9
626
1 116
e 510
29,989
6
8
135.4
8.784
6.58
94.2
1 427
6
.870
6
994
"3,212
2,676
14,769
4,402
557
6,436
2,353
5,064
3,138
4,798
6,597
2,519
142.6
155.3
133.4
131.8
118.1
117.0
104.9
92.5
85.3
84.5
82.4
87.4
2,423
92.2
5
7253
3,858
7.007
8 985
614
784
957
997
1 037
631
516
428
538
6722
775
609
656
855
705
749
780
616
476
667
737
2689
2380
2011
2,199
2011
274
2059
"231
2056
212
1 884
308
1 915
206
1 618
345
1 171
201
889
270
766
178
2,557
273
2,982
279
261
260
112 6
103 9
1039
103 9
1042
1047
108 9
1108
111 6
112 1
1109
111.1
106.6
106.2
2
496
2 373
547
S
2
57.36
2
14 76
2
4260
62.62
7
68 05
7
2629
7
41.76
31 79
1 1067
69 1
5
828
79 1
79 1
762
77 7
79 1
557
601
593
60.8
68.9
67.4
2
65.9
39.57
291
998
"323
(12)
1339
"3341
" 12 60
"20.81
359
14.38
19 10
*787
'11.23
266
4
399
328
249
379
22.71
5218
22.64
29.54
371
4.28
2.50
1346
3858
15.84
22.74
2.03
107.1
.342
5
55.41
5
15.84
5
2
49.32
2
681
4251
"7146
74570
7
16 87
7
29.83
41 33
1 469 2
88.2
1,652
9 533
S
93.9
5.425
7 791
83 3
118.6
191.20
5
3 158
6
1
6
2
6.7
1.220
5
"6 109
"2684
13
3 426
6.9
2
125
7
179
7
108
7
19
63
72
70 90
46.32
9,878
(12)
2
6314
7
8 102
7
3 973
7
67.7
2
2954
9,668
2.30
73.3
S-22
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
Annual
,, ..
February 1990
1990
1989
1988
Unlts
1987
1988
Dec.
Jan.
Mar.
Feb.
June
May
Apr.
July
Sept.
Aug.
Nov.
Oct.
Dec.
Jan.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Continued
Wheat— Continued
Producer Price Indexes:
Hard red winter, No. 1, ord. protein (K.C.)
1982-100..
Hard red spring, No. 1, ord. protein (Minn.)
1982 = 100..
70.6
2
68.8
2
105.2
110.1
108.0
114.6
108.3
115.0
111.2
107.3
106.6
105.2
105.6
107.7
109.2
108.6
103.3
111.5
108.9
113.4
109.4
114.6
107.5
106.1
106.9
106.1
106.2
105.0
108.6
110.1
344 154
6,163
769,699
28 450
554
63,833
29 084
518
27 109
479
60,789
26 963
480
60,387
27 186
482
60,659
28 607
505
64,739
26 644
480
59,645
26598
32334
27359
64,991
4 800
960.80
4800
135.70
81.70
129.32
4423
134.88
128.48
103.44
1020
1091
110.7
110.0
112.4
109.5
112.0
19,886
'20,705
1,656
1,694
1,574
1,830
1,653
1,951
501
266
451
250
Wheat flour:
Production:
Flour
thous sacks (100 Ib )
341 565
6260
Millfeed
.
thous sh tons
Grindings of wheat
thous. bu.. 767,384
Stocks held by mills, end of period
5858
thous sacks (100 Ib )
Exports
thous. met. tons.. 1,196.00
89,7
Producer Price Index
6/83—100
90.8
93.1
6
r
497
589
61,268
74,073
29 790
533
68,045
71,895
30 487
r
543
69,178
17.78
112.7
35.74
114.51
5,593
177.08
66.25
134.94
112.1
110.7
109.5
108.3
108.6
5,341
71.42
109.7
1,959
1,777
2,089
1,862
1,971
1,903
1,878
5253
31 806
560
478
61,923
io9"i
POULTRY AND EGGS
Poultry:
Slaughter
mil. Ib .
Stocks, cold storage (frozen), end of period,
total..
mil Ib
Turkeys
do.
Price, in Georgia producing area,
live broilers
. .
$ per Ib
Eggs:
Production on farms
mil. cases §.,
Stocks, cold storage, end of period:
Shell
. .
thoUs cases §
Frozen .
mil Ib
Price, wholesale, large (delivered; Chicago)
$ per doz..
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
thous. animals..
Cattle
do
Prices, wholesale:
Beef steers (Omaha)
$ per 100 Ib..
Steers, stocker and feeder
(Kansas City)..
do. ..
Calves vealers (So St Paul)
dollars t
Hogs:
Slaughter (federally inspected) thous. animals..
Prices:
Wholesale, average, all weights (Sioux City)
$ per 100 Ib ..
Hog-corn price ratio (bu. of corn equal in
value to 100 Ib. live hog)
Sheep and lambs:
Slaughter (federally inspected) thous. animals ...
Price, wholesale, lambs, average (Omaha)
$per 100 Ib..
MEATS
Total meats (excluding lard):
Production
mil Ib
Stocks, cold storage, end of period
do....
Exports (meats and meat preparations)
thous. met. tons..
Imports (meats and meat preparations)
,
do
Beef and veal:
Production, total
mil Ib
Stocks cold storage end of period
do
Imports
do
Price, wholesale, beef, fresh steer carcasses,
choice (600-700 Ibs.)
(Central U S )
$ per Ib
Lamb and mutton:
Production total
mil Ib
Stocks, cold storage, end of period
do...
Pork (excluding lard):
Production total
.
do
Stocks, cold storage, end of period
do
Imports
do
Prices:
Producer Price Index, Hams, smoked
1982—100
Fresh loins, 8-14 Ib. average,
wholesale ( N Y )
$ per Ib
193.5
9
20
43
17
.583
.579
2,411
335
340
16.2
15.9
9
20
12
20
488
299
552
356
657
455
.330
375
.440
.410
375
16.0
15.4
15.8
15.2
15.6
455
263
458
269
330
14.3
7
19
16
15
.910
.678
.666
196
2711
175
194
2,685
2,500
2,744
.661
203
18
15
26
16
27
15
686
497
12
16
511
268
.290
.270
.280
15.4
16.0
15.8
769
569
776
572
478
258
.355
.355
.290
15.6
15.1
15.7
17
15
.796
.772
.794
r
11
13
6
15
23
14
r
469
237
768
574
12
14
.943
.891
14
.886
.698
.720
.718
152
157
189
173
191
175
167
175
2,947
161
2,951
169
2,576
2,730
2,975
2,706
2,876
2,694
2,600
2,775
.716
2,679
34,468
34,048
64.60
69.58
71.21
72.35
72.92
75.81
75.31
74.52
71.71
70.74
71.09
68.44
69.69
72.48
75.21
76.73
71.32
7892
80.50
80.99
82.02
80.98
25750
78.58
26625
78.25
26005
79.08
25844
81.64
24688
84.54
26300
83.56
25875
81.24
244.38
82.65
242.90
82.30
230.00
82.47
248.50
227 67
225 63
230 25
82.91
22506
78,913
85,516
7,703
7,116
6,619
7,569
7,199
7,277
6,881
6,131
7,392
7,493
7,823
7,815
7,012
7,407
47.11
43.25
40.58
41.64
41.11
39.88
37.22
42.40
46.24
47.26
47.04
44.58
47.49
47.21
49.65
48.41
33.6
19.9
15.7
15.7
15.7
15.2
14.4
16.1
17.9
18.6
20.2
19.1
20.9
4
20.1
r
-21.2
20.8
479
5,042
5,122
447
418
415
505
393
435
423
398
440
468
467
457
75.77
60.71
64.75
66.25
66.83
69.50
74.50
73.75
68.56
65.73
63.31
56.67
58.33
55.03
56.38
(5)
38442
39763
3 265
745
3 003
762
3 326
749
3 130
767
3 396
735
3 342
686
3 047
654
541
3,411
555
3,172
r
536
3,350
579
3317
559
3,524
716
3 358
716
3482
623
915
1,081
105
*84
91
108
105
110
119
116
117
101
121
122
109
1250
1263
74
23 821
293
394
725
23 811
323
443
753
1 904
323
40
34
972
1 031
1 062
310
8
329
6
14 312
285
70
461
15 623
358
147
439
6
98
94
95
74
87
89
93
1 931
322
<?36
6
72
1 784
280
45
53
2027
1 916
255
57
59
2,120
248
53
59
1,940
237
44
45
2,072
251
47
60
2051
248
55
56
228
54
54
1,934
241
48
56
1,853
r
256
43
61
1,959
269
1 073
1 080
1 124
1 138
1 126
1 064
1 049
1 043
1 021
1 031
1070
1 114
1.133
27
1 307
381
6
11
6
36
2
962
1002
(5)
1265
1 188
1 132
(5)
2367
31 0
920,040
252780
61,620
91 0
394
14 400
90 1
394
6
6
86
27
6
1 204
397
10
31
96
33
1 373
394
j1
34
91
26
6
1 321
438
12
33
28
1 341
431
13
33
26
8
1 266
383
13
32
91
25
8
29
8
28
30
8
31
8
31
8
32
8
1 107
347
13
25
1333
281
12
30
1349
280
12
24
1,421
275
17
26
1,446
281
15
27
1,288
r
256
14
26
1,359
277
44 2
24 0
30 4
289
24 6
184
181
234
14 0
204
9.5
98,070
77,714
20282
82,072
24413
B3874
77,223
12053
71,164
99,368
14 530
86 5
18 678
119,698
19526
117,088
20969
130,799
32745
105,479
17,140
r
r
6
574
1 920
305
49
56
29
6
1 425
358
14
34
476
1 772
321
37
50
114
1042
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans, imports
(including shells)
thous met. tons
2626
Coffee:
Imports, total
metric tons. 1,194,360
From Brazil
.
do
235 680
U S Import Price Index "j"
1985 100
81 6
Fish:
Stocks, cold storage end of period
. mil Ib
411
See footnotes at end of tables.
315
265
193.2
462
263
451
250
24 616
31 128
89 5
392
353
330
330
357
374
47 6
53 3
386
428
444
10.4
100,372
13,213
427
419
430
S-23
SURVEY OF CURRENT BUSINESS
February 1990
Unless otherwise stated in footnotes
below, data through 198(5 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
Annual
I T ..
Unlts
1987
1988
1988
1990
1989
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
FOOD AND KINDRED PRODUCTS; TOBACCO—Cont.
MISCELLANEOUS FOOD PRODUCTS— Cont.
Sugar:
Exports raw and refined
metric tons
Producer Price Indexes:
Raw (cane)
Refined
Tea, imports
1982 = 100 ..
do....
metric tons..
TOBACCO
Leaf:
Production (crop estimate)
Stocks, dealers' and manufacturers',
Exports, incl. scrap and stems
Imports, incl. scrap and sterns
Manufactured products:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
mil Ib
metric tons..
do....
millions
do
Exports, cigarettes
do ....
560,592
1,157
877,365
1,213
615,552
134
110.3
106.4
77,390
mi. 9
108.9
90,143
112.0
113.7
7,959
1
1
1,189
4
5
24,230
5
104
36,168
112
27,170
152
27,337
84
22,806
126
33,808
149
18,350
181
45,586
226
50,385
106
51,657
97
45,619
119
28,927
85
111.0
115.8
5
6,610
111.9
115.8
5,966
112.3
116.0
8,290
112.3
115.8
7,170
113.8
116.9
7,193
115.4
117.6
7,124
118.3
119.6
7,394
118.3
118.6
6,790
118.8
120.4
7,070
117.8
120.6
7,634
118.2
119.8
6,964
117.2
121.5
7,053
25,916
14,603
25,393
11,507
3,825
22,177
12,411
19,356
.19,382
14,701
16,202
3,514
11,696
11,032
6,990
20,427
10,684
18,418
3,637
17,729
11,553
18,025
15,234
32,072
13,351
19,644
16,164
10,947
46*915
164
5
8,661
11,702
41^936
164
2,187
11,419
51/723
209
1,731
9,502
44,351
174
9,129
12,800
52,858
241
1,248
13,027
51,549
246
'1,701
11,668
26,757
158
772
14,395
47,155
220
3,046
12,151
44,444
208
2,220
12,888
48,177
202
2,672
2,760
5,629
174.4
175.1
178.2
131.0
118.5
113.8
119.3
122.3
6
1,414
1,370
4,480
193,178
222,197
4,020
216,481
196,429
4,020
20,588
5,248
111,199
577^008
2,676
100,246
132,953
543'378
2,430
118,499
12,158
39,548
189
11,146
5
5
LEATHER AND PRODUCTS
LEATHER
Exports:
Upper and lining leather
Producer Price Index leather
thous sq ft
1982—100
194 152
140 9
215 358
-167 5
22 519
164 9
166 6
1694
170 2
1682
1667
1680
171 4
171 5
1725
1740
230 046
235 141
17 623
18 070
18 455
19 590
16 606
18725
17 506
13 691
19676
17 405
18 956
16729
165 184
50,281
14 581
3341
14 713
162 507
55,181
17 453
3410
18 394
12 324
3,275
2024
212
1 438
12428
4,752
885
253
(3)
(3)
(3)
(3)
5,241
260
281
271
267
11 538
5,256
712
266
9 183
3,889
619
240
12696
5,863
1 117
342
11735
4,679
991
305
12 502
5,464
r
990
r
431
11 446
4,562
721
510
124.6
114 0
114.0
1094
109.4
125.2
114.2
1142
1095
109.5
125.8
1149
114.9
1100
110.0
126.0
114.9
1149
1100
110.0
125.1
115.3
1153
1098
109.8
125.0
114 8
114.8
1099
109.9
125.0
114.5
1145
110.3
110.3
125.3
115.3
1153
109.3
129.3
118.0
109.1
131.0
118.0
110.0
130.9
118.2
109.2
130.8
117.8
109.4
130.7
118.6
112.5
LEATHER MANUFACTURES
Footwear:
Shoes, sandals, and play shoes,
except athletic
thous pairs
Slippers
do....
Athletic ... .
do
Other footwear
do
Exports
do
Producer Price Indexes:
Men's leather upper, dress and casual
1982 = 100..
Women's leather upper
do
UDoer
Ho .
Women's nlastic
plastic upper
do
111.4
107.2
1072
1049
104.9
4
121.3
4
112 5
112.5
4
107 5
107.5
(3)
5,783
(3)
4,335
(3)
5,135
(3)
LUMBER AND PRODUCTS
LUMBER— ALL TYPES #
National Forest Products Association:
Production, total
mil bd ft
Hardwoods
do
Softwoods
do
Shipments, total
do
Hardwoods
do
Softwoods
do
Stocks (gross), mill, end of
period, total
do
Hardwoods
do
Softwoods
do
Exports, total sawmill products
do
Imports, total sawmill products
thous. m3
2
49,395
2
11,160
2
2
49,576
2
11,446
2
38,130
2
49,134
2
11,163
2
37,971
3,641
690
2,951
3,649
665
2,984
6,183
1,412
4,840
4,999
4,999
35,912
33,547
2,190
10,325
548
10,354
10,445
790
1,614
326
1,288
10,031
636
10,029
9,943
876
2,202
342
1,860
125.1
135.7
38,235
2
49,761
2
11,460
2
38,301
3,849
768
3,081
3,914
781
3,133
3,311
713
2,598
3,417
743
2,674
3,758
687
3,071
3,877
826
3,051
3,773
829
2,944
3,846
874
2,972
4,025
864
3,161
4,163
937
3,226
4,273
799
3,474
4,420
891
3,529
3,677
671
3,006
3,754
752
3,002
4,896
4,818
4,837
4,810
4,740
4,746
4,748
6,026
5,036
5,868
5,405
5,432
5,301
4,205
6,479
5,146
5,766
5,778
3,913
956
636
836
868
876
201
24
177
926
694
834
868
842
5
206
5
50
5
156
607
617
621
684
779
196
23
173
877
659
797
835
741
227
28
199
737
626
759
770
730
267
29
239
741
592
793
775
748
186
22
163
93L
583
948
940
756
211
24
187
762
565
778
780
754
144
11
134
800
540
806
825
735
245
33
213
853
583
815
810
740
200
28
172
850
527
949
906
783
186
29
158
688
506
754
709
828
241
22
220
780
501
766
785
809
472
36
436
133.6
135.9
140.7
154.3
159.9
163.0
167.1
162.8
158.1
138.0
138.5
5
SOFTWOODS
Douglas fir:
Orders, new
mil. bd. ft..
Orders, unfilled, end of period
do
Production
do
Shipments
do....
Stocks (gross), mill, end of period .
do
Exports, total sawmill products
thous. m 3 ..
Sawed timber
do
Boards planks scantlings etc
do
Producer Price Index, Douglas fir, dressed
1982 = 100..
See footnotes at end of tables.
142.0
160.7
140.4
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
,,„.,
February 1990
1990
1989
1988
Annual
Lnlts
1987
1988
Dec.
Jan.
Apr.
Mar.
Feb.
June
May
Aug.
July
Oct.
Sept.
Nov.
Dec.
Jan.
LUMBER AND PRODUCTS—Continued
SOFTWOODS— Continued
Southern pine:
;
Orders' unfilled end of period
do
Production
do
Shipments .
•
do
Stocks (gross), mill and concentration yards,
end of period
mil bd ft
1 067
756
1 067
1 099
913
834
971
933
1 996
2072
2072
621 072 1 237 638 171 664
4
869
756
945
917
974
733
1 047
995
2 113
1 107
775
1 064
1 064
1 236
797
1 123
1 213
1 176
775
1 153
1 199
2036
108 674
2062
109 939
109 762
2 114
124 827
2025
92 824
1 984
68080
942
715
982
1002
1 962
86351 126 304
58860
136 776
86923
97206
114 1
1124
109 5
1100
1097
107 9
106 1
104 5
1088
113 1
1072
1055
112.1
105.4
105.8
11 427
524
11 407
11 354
1 365
11 426
537
11395
11 413
1 347
994
537
926
942
1 347
1 027
627
926
937
1 336
754
533
815
848
1 303
1 035
'591
993
977
1 319
847
542
884
896
1 307
904
546
915
900
1 322
1 058
581
1023
1,023
1 322
888
558
934
911
1 345
984
541
1,017
1,001
1 361
938
533
915
946
1330
999
535
1,042
997
1375
854
515
869
874
1,370
855
506
896
864
1,402
1982-100
1190
1201
1165
1184
1222
124.5
128.5
131.7
131.2
130.6
130.0
127.1
124.4
125.9
mil bd ft
do
do....
11 0
173 8
8.7
89
1930
10.9
89
153
10.9
96
161
10.6
122
145
12.0
150
168
9.8
151
175
10.5
156
18.9
11.0
128
14.6
8.9
119
19.1
9.8
10.6
19.0
8.8
10.7
16.8
7.8
303
1 101
1
461
1 233
1
364
754
2
618
1 054
1 714
76
75
Producer Price Index, southern pine,
dressed
1982—100
Western pine:
Orders, unfilled, end of period
Production
Shipments
.
Stocks (gross) mill end of period
Producer Price Index, other softwood,
dressed
12 614 1 12 597
834
837
1 12 473 1 12 676
1
12 487 1 12 600
do..
do
do
do
128.6
106.8
126.4
HARDWOOD FLOORING
Oak:
Orders unfilled end of period
Shipments
Stocks (gross), mill, end of period
14 1
21.0
10.4
10.3
16.6
7.7
9.7
15.6
7.6
251
988
386
1218
5
13.4
15.9
8.9
METALS AND MANUFACTURES
IRON AND STEEL
Exports
g
p- 5.
"
,
i
1 129
10 367
50
A
d
20 414
843
355
Imports
Scrap
Pis iron
Production
Receipts net
Iron and Steel Scrap
thous sh tons
.
do
20 891
1 038
700
1 420
77
16
334
785
1
355
1 126
1
403
1 260
1 216
78
11
1 341
138
93
1 472
101
55
1 549
114
33
1 458
72
45
1 531
74
40
1 400
70
39
237
768
(3)
606
1 106
1 784
129
18
1 336
91
36
(3)
(3)
(3)
(3)
1 491
72
23
1 028
105
20
4 554
2221
3743
6044
4 552
2 275
4032
6 563
4 634
2 182
4092
6 189
4 724
2324
4360
6 699
4736
2258
4175
6557
4725
2297
4086
6526
4 572
2176
4,019
6216
4 623
1871
3,545
5647
4456
2,017
3,654
5844
4427
2,099
3,634
5-799
4450
r
2,030
r
4,033
r
6024
r
4591
1,991
3,651
5,653
4,610
85.76
108.98
107.28
113.90
116.07
112.52
112.20
113.09
111.67
107.33
104.86
102.62
99.58
96.67
47 566
47 900
16 867
1 57 347
1 53 594
20 126
4 793
5'g5g
1 811
5
4 890
5
2 155
5
4 228
1 158
1 384
4 841
1 817
1*249
4 426
5 418
1 599
5 325
6 243
2284
5 195
6495
2 176
5 357
6 289
2032
4876
6220
1 921
4776
5437
1 520
4703
5735
1705
4645
5520
59 534
J
73 216
7 166
54 1^2
3 295
3 903
5 996
7 331
6 850
7 178
7 342
6699
6642
6176
5580
'71 863
5*286
23 490
3 296
lg'OQ4
2 190
5 965
798
23 490
3 296
18 004
2 190
5981
2
23 252
9 099
12 749
1 404
6 662
3
6 230
605
21 gYo
10*213
10 396
1 061
6216
780
21 544
8949
11 002
1 593
6045
393
22286
8008
12*239
2*039
5737
592
22275
6664
13 844
1767
5764
715
22 588
6004
14780
1804
6190
527
21 429
4976
14 933
1520
5,364
22 685
12 123
9 991
571
6 677
606
21 145
11 131
9*310
'704
5,506
do
61 048
6 219
21 279
2 297
16 565
2056
21448
4,107
15546
1,795
15,730
2,171
do
814
1 128
119
M8,410
1 50 030
'281
1
55,745
1
59 047
207
4,712
4 874
206
4,964
5203
'268
4,654
4 882
281
5,112
5348
264
4,990
5063
269
4,917
5012
278
4,707
4792
264
4,604
4392
247
4,172
4491
305
4,403
4 546
308
4,692
4372
r
250
4,322
4,147
268
do
8 606
6002
r
9 247
r
r
667
r
682
448
623
437
714
452
696
485
743
542
649
468
512
396
639
475
579
426
do
do
318
168
28
13
25
13
30
14
24
U
27
12
25
U
16
7
26
13
25
12
Shipments from mines
d
Imports
do
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do
?
At U S docks
Manganese (manganese content),
general imports
257
1 887
r/
49613
rl
76
822
r
4844
Ore
Iron ore (operations in all U.S. districts):
St k
At mines.
437
964
1
r
24 740
r
44 808
r
68
303
r
Stocks end of period
do
Composite price, No. 1 heavy melting scrap:
American Metal Market *
$ per long ton..
Consumption at iron and steel
plants
1
2 069
10 098
71
do
n 27 445
814
5
6 687
5
344
5
23 189
5
6
029
5
15 435
5
1 725
97.05
(5)
Pig Iron and Iron Products
Pig iron:
Production (including production of
ferroalloys)
...thous. sh. tonsConsumption
do
Castings, gray and ductile iron:
For sale
Castings, malleable iron:
Shipments total
For sale
See footnotes at end of tables
6782
r
348
184
493
r
27
14
r
r
639
'453
r
21
r
8
563
394
19
8
4,202
4,638
Unless otherwise stated in footnotes
methodoTogkafnoteTIreasshTwn in
BUSINESS STATISTICS: 1986
S-25
SURVEY OF CURRENT BUSINESS
February 1990
Anr ual
1990
1989
1988
Units
.
uy
Nov
Oct
ug.
ep.
7,617
80.0
Dec
Fan
METALS AND MANUFACTURES—Continued
Steel, Raw and Semifinished
Steel (raw):
Production
thous sh tons
Rate of capability utilization
percent
Steel castings:
Shipments total
thous sh tons
For sale, total
do....
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous. sh. tons..
By product:
Semifinished products
do
Structural shapes (heavy),
steel piling
do....
Plates
do....
Rails and accessories
do....
Bars and tool steel, total
do....
Bars: Hot rolled (including
light shapes)
do
Bars: Reinforcing. .
do
Bars: Cold finished
do....
Pipe and tubing
do
Wire-drawn and/or rolled
do....
Tin mill products
do
Sheets and strip (including electrical),
total
do
Sheets' Hot rolled
do
Sheets- Cold rolled
do
By market (quarterly):
Service centers and distributors
do....
Construction incl maintenance
do
Contractors' products
do
Automotive . .. . .
do
Rail transportation
do
Machinery, industrial equip., tools
do....
Containers, packaging, ship,
materials
.
do
Other
do....
Producing steel mills, inventory, end of period:
Total
mil. sh. tons ..
Steel in process
do
Finished steel
'
do
Steel service centers (warehouses), inventory,
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. met. tons ..
Recovery from scrap
do
Imports:
Metal and alloys, crude
do.,..
Plates, sheets, bars, etc
'.
do....
Exports;
Metal and alloys, crude
do .
Plates, sheets, bars, etc
,
do....
Price, U.S. market, 99.7% purity,
monthly average
.$ per lb..
Aluminum products:
Shipments:
Ingot and mill prod (net ship)
mil lb
Mill products, total
.
do
Sheet and plate
do .
Castings
do. ..
Inventories, total (ingot, mill products, and
scrap), end of period
mil. lb..
Copper:
Production:
Mine, recoverable copper
thous. met. tonsRefined from primary materials
do....
Electrolytically refined:
From domestic ores @
do....
From foreign ores
do
Electrowon
do....
Refined from scrap
do
Imports, unmanufactured:
Refined, unrefined,
scrap (copper cont.)
do....
Exports:
Refined and scrap
do....
Refined
do....
Consumption, refined
(reported by mills etc )
do
Stocks, refined, end of period
do....
Price, avg. U.S. producer cathode, delivered §
$ per lb .
See footnotes at end of tables
1
89,151
79.5
'99,924
89.2
7,954
83.8
•«8,729
88.2
8,022
89.8
8,997
90.9
8,738
92.2
8,633
88.1
8,171
86.2
7,955
80.8
7,790
79.2
830
797
1,209
1,095
109
100
94
93
87
86
112
110
101
100
111
110
101
100
84
83
101
101
85
84
76,654
8,175
83.0
7,386
77.4
'97
r
95
83
81
7,222
73.3
'83,840
6,738
7,278
6,832
7,824
7,446
7,331
6,387
7,224
6,779
6,652
6,053
5,456
'5,975
468
550
507
535
520
541
532
458
505
462
481
466
425
5,120
4,048
515
'13,575
'5,209
'7,328
'615
'14,489
508
367
36
1,121
504
601
44
1,326
451
570
49
1,177
494
661
60
1,294
470
629
53
1,205
474
623
59
1,236
459
645
51
1,168
392
601
46
1,109
433
661
39
1,263
457
585
32
1,206
472
620
33
1,247
428
593
35
1,107
363
548
42
1,054
7,238
4,918
1,361
3,570
1,105
3,988
'7,834
' 5,092
1,499
4,443
1,073
4,069
593
418
105
302
67
489
736
443
142
302
87
288
626
421
125
280
86
278
689
461
137
362
97
356
667
407
125
322
97
323
678
425
127
354
95
363
614
427
121
370
95
372
561
442
101
324
80
328
632
508
118
388
83
366
625
466
110
333
76
346
660
465
115
345
80
345
562
435
104
323
71
324
554
403
90
304
61
426
39,279
13,048
13,859
40,639
12,589
13,871
3,360
1,099
1,072
3,577
1,025
1,217
3,433
1,087
1,137
3,965
1,265
1,326
3,544
1,090
1,192
3,701
1,096
1,301
3,638
1,083
1,270
3,047
918
1,066
3,485
1,093
1,163
3,282
997
1,104
3,551
1,182
1,120
3,306
1,106
1,037
2,829
976
884
18,629
5,619
2,701
1
11,135
734
2,096
18,980
6,014
2,815
12,078
1,116
2,537
4,197
1,398
681
3,046
270
601
4,720
1595
673
3235
296
617
4,817
1,749
740
3,020
306
575
4,405
1,778
737
2,492
262
501
4,371
31,337
4,423
'36,011
1,163
8,944
1016
9,704
1,139
9,635
1,139
9,063
11.3
6.7
4.6
13.1
7.9
5.2
13.1
7.9
5.2
13.1
7.9
5.2
13.1
7.8
5.3
13.0
7.7
5.3
13.4
7.9
5.5
13.3
7.8
5.5
13.2
•7.8
5.4
13.6
8.0
5.6
13.3
7.9
5.4
13.3
7.8
5.5
13.3
8.0
5.3
13.0
7.8
5.2
6.4
6.5
6.5
6.6
6.7
6.8
6.9
7.0
7.1
7.2
7.0
7.0
6.7
6.7
3,343
1,986
3,944
'2,122
344
156
346
167
312
157
347
182
334
174
347
176
335
177
346
161
341
159
323
153
327
160
326
142
1,030.6
4
388.5
4
55.0
4
3
99.4
3
78.6
24.4
83.3
31.6
92.4
30.9
75.5
30.4
73.9
32.0
71.8
27.3
91.9
33.0
83.6
23.6
65.2
25.2
400.1
342.5
4
51.3
4
3
34.8
3
20.7
41.8
35.8
40.2
43.1
33.3
35.7
34.1
60.4
44.6
37.4
46.2
35.1
52.0
41.6
46.1
34.5
68.8
33.0
.7230
1.1009
1.1000
1.0772
.9958
.9578
.9638
.9780
.8766
.8040
.8137
.7830
.7976
.7581
15,584
12,234
7,379
2,220
15,453
12,273
7,384
2,325
1,155
911
566
178
1,266
996
681
231
1,232
996
630
220
1,419
1,184
774
234
1,246
1,046
657
218
1,343
1,100
702
229
1,399
1,116
696
206
1,251
1,019
641
135
1,386
1,103
691
196
1,314
1,014
628
193
1,295
1,022
'613
r
201
1,208
917
539
193
4,175
4,151
4,151
4,189
4,163
4,160
4,246
4,262
4,275
4,474
, 4,325
4,214
r
4,134
3,976
1,255.9 '1,419.6
1,146.1 '1,406.0
124.8
123.9
126.4
121.0
120.7
114.1
133.8
125.3
125.1
115.4
127.1
130.3
121.3
125.3
122.0
120.0
127.0
128.0
122.0
121.9
124.5
128.5
117.6
133.4
102.2
103.3
1
1
1
1
1
4
1,250.1
*410.3
4
281.1
*258.1
1
4
4
4
26.9
31.5
35.6
7,164
2
2
1,544
2
631
2
250
2
939
2
76
2
164
2
361
3,209
2
2
1,427
2
570
2
237
2
864
2
72
2
154
2
347
2,981
99.4
104.6
109.1
22.5
r
42.0
24.0
44.6
24.3
37.4
53.4
24.4
37.4
28.1
45.3
30.5
71.1
21.4
67.4
15.8
96.5
23.4
40.9
13.7
195
100
158
105
195
96
194
90
199
93
185
96
1.1590
1.1349
1.2743
1.3844
1.3166
1.1811
99.4
94.3
102.4
92.3
105.8
102.2
97.0
'158.0
414.7
228.0
'453.3
21.7
40.2
21.6
r
36.6
19.8
r
40.0
22.9
r
46.0
23.'i
r
39.0
24.5
'40.5
23.1
r
41.1
23.0
'36.4
657.3
515.6
626.1
390.4
44.0
20.2
3
40.8
3
32.7
33.0
24.8
25.0
18.7
35.9
20.9
35.9
24.1
32.6
25.9
28.2
20.9
454.8
17.9
707.7
66.5
54.5
4.5
3
32.5
3
6.2
41.0
4.8
41.3
5.9
56.6
13.5
24.2
4.3
46.5
6.6
'2,152
113
'2,210
98
177
98
188
97
173
101
183
103
178
101
196
106
.8250
1.2051
1.6127
1.5777
1.4021
1.4849
1.4349
1.2715
988.1 '1,178.0
7,174
24.7 ""
'41.7
2
2
8,241
83.1
1,283
2
503
2
213
2
615
2
83
2
141
2
459
2,756
.7356
.6967
S-26
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
methodological notes are as shown in
BUSINESS STATISTICS: 1986
Ann ual
February 1990
1990
19 89
1988
Unlts
Dee
ept.
y
Jin
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS— Continued
Copper-base mill and foundry products,
shipments (quarterly total):
Brass mill products
mil Ib
Copper wire mill products
(copper content)
do
Brass and bronze foundry products
do
Lead:
Production:
Mine, recoverable lead
thous. met. tons..
Recovered from scrap (lead cont.)
do....
Imports, ore (lead content)
do....
Consumption total
do
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content) ABMS
thous met tons
Refiners' (primary), refined and antimonial
(lead content)
thous. met. tons,.
Consumers' (lead content) (>
do....
Scrap (lead-base, purchased), all smelters
Price, common grade, delivered @@
$ per Ib..
Tin:
Imports (for consumption):
Ore (tin content)
metric tons ..
Metal unwrought unalloyed
do
Recovery from scrap total (tin cont )
do
As metal
do
2,624
1,922
528
311.4
710.2
240.3
1,230.4
1
385.0
737.0
256.6
1,230.7
1
Materials handling equipment, dollar value
bookings index *
1982 — 100
Industrial supplies, machinery, and equipment:
New orders index, seas, adjusted
1977 = 100 .,
Industrial suppliers distribution:
Sales index, seas, adjusted
1977 = 100..
Inflation index, not seas. adj. (tools, material
handling equip., valves, fittings, abrasives,
fasteners, metal products, etc.)
1977 = 100
Fluid power products shipments indexes
Hydraulic products
1985=100
Pneumatic products
do
Machine tools:
Metal cutting type tools:
Orders, new (net), total
mil. $
Domestic
do
Shipments, total
do
Domestic
do
Order backlog, end of period
do,
Metal forming type tools:
Orders, new (net), total
do....
Domestic
do
Shipments total
do
Domestic
do
Order backlog, end of period
do....
See footnotes at end of tables.
3
31.0
58.6
8.6
98.3
34.4
67.5
7.3
101.2
32.8
67.6
33.2
64.1
6.5
99.2
33.8
65.3
9.8
101.3
36.1
66.3
10.4
101.6
33.2
61.6
9.0
95.2
38.6
65.9
11.3
102.7
34.3
64.4
9.3
105.9
35.1
73.5
13.4
114.0
107.3
59.2
66.9
66.9
60.1
55.2
57.8
54.9
63.6
67.3
73.2
77.8
73.7
83.0
78.6
21.6
88.6
15.4
89.8
15.4
67.6
26.0
68.4
33.0
68.1
39.1
72.1
37.5
68.3
29.7
66.5
29.0
65.0
31.4
65.9
27.9
63.6
27.5
63.7
18.8
62.3
14.6
58.3
24.0
.3594
19.9
.3714
19.9
.4202
17.7
.4017
16.8
.3701
17.3
.3507
15.3
.3502
13.2
.3634
14.3
.3915
16.0
.4029
17.3
.4175
18.0
.4363
18.5
.4363
20.3
.4126
2,967
41,151
16,159
1
1,353
1
44,219
1
35,620
1,701
2,837
43,493
'15,088
'578
'45,073
'37,008
1,573
130
3,695
561
149
2,114
649
47
4,700
3,700
162
2,839
686
4,018
642
2,734
594
3,027
'617
4,500
3,400
47
2,372
621
47
4,100
3,100
98
2,833
526
4,300
3,300
204
2,490
627
47
4,500
3,400
41
2,610
650
4,900
3,800
45
(3)
3,614
598
11
4,800
3,700
3
62
4,000
2,900
25
4,200
3,200
71
4,100
3,000
94
'4,306
r
3,200
56
4,000
3,000
4,943
4.6029
4,242
4.6435
3,894
4.9165
4,320
5.4309
3,717
6.4213
4,945
6.2118
4,912
6.0796
5,597
5.6910
5,872
5.1789
6,241
4.9357
'5,313
4.7714
5,477
4.1880
25.1
1
Primary
do
Exports (metal)
do ....
Stocks, pig (industrial), end of
period
do....
4,428
4,943
Price, Straits quality (delivered)
$ per Ib.. 4.1878
4.4142
Zinc:
1
216.3 '244.3
Mine prod., recoverable zinc
thous. met. tons..
Imports:
Ores (zinc content)
do....
405.7
425.5
Metal (slab, blocks)
do..,.
705.9
740.8
Consumption (recoverable zinc content):
Ores
do....
2.4
'2.5
1
Scrap, all types
do....
269.3
'253.9
Slab zinc:
Production, total :(:
thous. met. tons ..
194.4
220.5
Consumption, fabricators
do.... '1,052.0 ' 1,089.0
Exports
do
1.1
.5
Stocks, end of period:
Producers', at smelter (ABMS)
do....
5.6
7.0
Consumers'
do .
57.1
64.8
Price, high grade
$perlb..
.4192
.6020
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
orders (domestic), net, qtrly #
mil. $..
Electric processing heating equipment
do
33.3
62.1
17.2
104.7
31.8
59.7
19.1
95.1
1
3
67.6
17.4
18.1
4.7
4.1
662
19.3
22.2
20.8
22.9
22.4
23.4
24.3
20.8
25.3
23.1
27.9
47.4
5
.3
5
74.7
1.1
52.6
2.2
60.9
1.5
58.1
3.1
62.1
8.4
70.5
.9
46.0
4.8
58.1
4.6
50.4
.2
22.0
.2
22.0
.2
22.0
.2
22.0
.2
22.0
.2
20.6
.2
20.6
.2
20.6
.2
20.6
.2
20.6
.2
20.6
14.7
88.1
(2)
17.8
90.0
3
.2
16.3
81.4
.2
17.6
96.0
.3
16.8
81.6
.4
17.7
97.0
.1
16.1
82.1
.9
16.2
76.1
.6
18.6
101.2
1.2
16.8
'81.2
1.0
17.8
92.0
5.6
64.8
.7344
5.0
50.5
.7927
4.0
54.2
.8770
3.3
50.4
.9371
3.8
48.3
.8852
4.1
48.8
.8464
3.6
50.2
.8059
3.9
51.8
.7967
4.8
48.1
.8132
3.8
'47.0
.8108
4.0
44.0
.7995
.7592
1072
24.1
37.8
73.5
16.2
3.3
99.5
24.8
30.0
110.0
25.6
41.3
368.3
54.9
'171.1
390.2
62.7
165.5
104.7
14.6
46.2
207.1
213.4
252.6
181.8
160.9
221.0
171.5
169.8
180.5
128.7
138.2
146.5
156.6
159.0
156.4
153.0
147.3
142.0
141.3
147.1
157.9
164.3
160.0
156.0
149.1
164.0
167.6
177.2
175.7
175.6
196.3
193.1
183.2
175.5
197.5
192.8
175.0
189.8
171.6 •
166.6
172.2
176.0
177.6
178.3
179.5
180.1
181.0
182.1
182.8
183.1
184.3
184.9
185.8
184.5
107
105
129
120
132
114
140
130
141
128
158
150
151
129
150
148
148
144
130
123
147
141
140
126
145
134
148
129
134
114
1,451.45
1,294.45
1,676.50
1,498.85
672.2
2,707.90
2,315.75
1,574.55
1,400.10
1,805.5
246.40
191.50
209.35
186.40
1,805.5
167.00
145.40
102.85
89.50
1,869.7
214.95
191.30
151.25
133.90
1,933.4
220.60
200.20
227.45
207.25
1,926.6
152.80
138.50
184.05
168.35
1,895.3
147.90
138.10
158.40
145.40
1,884.8
158.85
123.05
235.70
199.95
1,808.0
133.20
112.00
175.60
155.45
1,765.6
156.25
120.70
169.90
147.20
1,751.9
192.45
174.50
228.50
188.75
1,715.8
144.90
135.70
183.55
161.95
1,677.2
667.35
536.05
647.15
537.90
327.3
882.95
749.35
824.55
702.20
385.7
70.05
60.20
83.20
64.30
385.7
63.85
56.60
49.35
42.20
400.2
67.00
57.05
77.55
66.40
389.6
69.90
58.20
79.20
67.00
380.4
89.75
76.40
65.50
58.80
404.6
57.35
49.85
82.35
74.10
379.6
81.85
72.85
91.85
70.10
369.6
57.55
43.35
62.10
50.55
365.0
70.85
70.45
55.90
49.75
380.0
110.15
105.00
53.50
44.45
436.6
60.10
47.05
68.00
58.80
428.8
191.7
186.3
128.90 158.55
108.15 135.20
228.60 '312.75
201.10 '260.40
1,577.5 1,423.3
140.90
117.70
162.25
143.45
1,402.0
'47.75
'42.20
'66.60
'57.85
'380.3
56.70
38.05
61.85
53.35
375.2
55.50
40.05
85.10
64.15
399.2
S-27
SURVEY OF CURRENT BUSINESS
February 1990
Unless otherwise stated in footnotes
methodological notes are as shown in
BUSINESS STATISTICS: 1986
Ann ual
1988
1990
1989
Units
an.
y
ept.
y
METALS AND MANUFACTURES—Continued
MACHINERY AND
EQUIPMENT— Continued
Tractors used in construction, shipments, qtrly:
Tracklaying (ex shovel loaders)
units
mil. $
Wheel (contractors' off-highway)
units..
mil $
Shovel loaders
units
mil, $ ..
ELECTRICAL EQUIPMENT
Batteries (auto. -type replacement),
shipments
......thous ..
Radio sets, production, total market :j::j:
thous ..
Television sets (incl. combination models),
production total market tt
thous
Household major appliances, industry
shipments #
thous
Air conditioners (room)
do....
Dishwashers
do
Disposers (food waste)
do
Microwave ovens/ranges
.
do
Ranges
do
Freezers
do
Dryers including gas
Vacuum cleaners (qtrly.)
do
do
GAS EQUIPMENT (RESIDENTIAL)
Furnaces, warm air, shipments
....thous..
Ranges total shipments
do
Water heaters (storage), automatic,
shipments
do....
3075
3373
1,260
1038
16 376
602.0
9 570
9759
4,701
3713
60468
1,777.7
12 117
1 167 1
5,110
416 1
61 938
2,092.1
3 323
2779
1,172
956
14 544
525.8
59,878
28,110
63,487
23,623
6,245
1,940
4,674
1,688
4,203
1,518
4,754
1,752
4,172
1,927
4,656
1,985
4,982
2,140
4,827
2,169
6,295
2,712
6,357
2,454
6,685
2,578
6,114
2,567
1,563
23497
20 170
2 329
1 649
1 846
2254
2018
1994
2431
1 461
2071
2520
2233
2,074
2,308
47
070
3
4,637
3 907
4233
10988
3
3 202
3
7 227
3
1
349
3
6' 190
4 601
10652
3 679
215
318
3 947T
352
326
391
1 054
245
466
93
553
436
3 916
546
293
380
963
225
460
94
510
394
4 444
846
324
414
906
273
564
90
539
385
2952
3 868
718
275
335
824
226
536
93
457
323
4326
748
292
336
907
263
686
111
533
374
4 389
718
324
331
788
263
785
116
572
389
2,545
3 505
365
257
285
761
218
660
129
437
305
3 832
148
319
363
956
276
687
144
524
377
3971
170
303
434
1,075
258
627
123
545
410
3,224
3834
97
338
426
958
275
614
95
582
432
3719
101
328
369
1,036
291
546
84
535
398
3502
275
301
299
940
242
494
90
474
361
2,652
3
49 ggi
3J98
4 032
4439
12610
3346
6 972
1 260
5 998
4637
10417
3
1 161
262
467
94
440
363
2550
2 863
3060
1,165
927
15303
562.1
2,073
2 143
2,092
2227
177
197
178
158
148
156
135
194
132
163
142
182
168
185
186
149
216
191
246
181
251
200
196
215
165
194
3,951
3,956
383
337
328
375
354
324
345
303
295
309
397
365
398
311
14
103.2
299
72
103.2
373
58
103.5
339
85
104.3
291
9
104.6
106.;
85043
72,554
89,88;
7,146
96.8
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production t
Exports
..
.
Producer Price Index
Bituminous and lignite:
Production "|"
Consumption total t
thous sh tons
thous met tons
1982 = 100 ..
3 560
1 071
100.1
thous sh tons
do
915 202
834 337
716 922
Industrial total
do
111 696
Coke plants (oven and beehive)
do
36'920
Residential and commercial
do
5719
178 485
Stocks, end of period, total t
•
do
Electric power utilities
do
163 857
Industrial total
do
14 628
Oven-coke plants
do
3 879
Exports excluding lignite
thous. met. tons .... 70,438
Producer Price Index
1982 = 100 ..
97.1
3 555
817
101.2
260
87
103.2
281
2
59
103.3
282
11
103.3
337
50
103.5
273
70
103.1
280
82
103.0
256
110
103.0
197
55
103.1
946711
880 242
756 459
117 730
41 866
6054
151 446
139 583
11 863
3 125
85,282
'95.3
80 324
77792
66 775
10255
3 564
762
151 446
139 583
11*863
3'l25
8,089
94.6
81 969
77 101
66 355
10 199
3 562
547
146 462
135 168
11 294
3 254
2
5,659
94.1
75040
73 012
62 538
9 874
3 290
599
141 366
130 641
10 724
3 382
6,106
93.5
88 981
72550
61 830
10 277
3716
443
142 600
132 444
10 155
3 511
7,542
93.5
77 233
65957
55837
9 701
3 609
419
148 228
138 130
10097
3 457
8,186
94.1
82486
68 113
58 261
9 575
3 521
276
154 461
144 417
10 045
3 404
8,701
94.5
78 544
73233
63 548
9 442
3 364
243
152 393
142 404
g'ggo
3 350
8,648
94.8
66269
90824
84618
87,657
69 609
70237
62 808
60 454
128 800
127 794
129 189
135 854
5,577
96.1
7,351
96.5
8,691
96.4
8,370
96.9
8,776
97.4
32405
>39 811
8 251
3 462
3 505
2 931
8006
3 201
3 200
3 337
8 194
3 406
3 509
3 447
3 255
3239
3089
1 931
60
2 086
115
1264
1 136
129
1 813
115
1 756
100
1 642
63
1 724
51
1 736
196
1 765
65
1
30r
91.',
COKE
Production:
Beehive and oven (byproduct)
Stocks, end of period:
Oven-coke plants, total
At furnace plants
At merchant plants
Exports
thous sh tons
do
do
do
See footnotes at end of tables.
1 064
846
218
1 350
590
1 583
1 420
163
1 558
167
1 588
2
52
1 669
30
1 167
1 052
115
1 655
76
46 2
44 3
49 7
503
53 9
589
59 5
58 3
599
53 5
4 746 1
83
4 921 6
84
420 2
85
418 8
86
364 3
83
407 9
84
393 9
84
420 4
86
421 6
90
432 6
89
434 7
89
6 089 6
6 301 7
538 4
547 7
486 4
517 6
524 8
532 0
512 1
540 0
3 047 4
605 6
2 979 1
614 2
246 2
527
2453
53 5
2192
459
2359
527
2324
51 5
2420
519
229 8
466
231 7
50.6
do....
1,837.3
599.4
14 9
6,360.8
2,021.6
686.8
10 2
6,623.4
172.3
67.2
34 0
600.5
182.8
66.1
19 9
556.8
161.1
60.2
17 9
521.7
165.7
63.9
32 1
581.6
186.7
54.2
26 5
521.0
188.5
49.7
26 5
535.2
189.3
46.3
14 7
550.5
do
do....
550
223.0
567
241.0
40
27.2
42
19.0
58
18.5
48
21.6
42
20.0
41
20.1
73
21.5
thous. met. tons..
PETROLEUM AND PRODUCTS
Crude petroleum:
Producer Price Index
1982—100
Gross input to crude oil distillation
units tt
mil bbl
Refinery operating ratio tt
% of capacity..
All oils, supply, demand, and stocks: tt
New supply total 0
mil bbl
Production:
Crude petroleum
do
Natural gas plant liquids
do
Imports:
Crude and unfinished oils
do....
Refined products
do....
Product demand, total
Exports:
Crude petroleum
Refined products
28 037
37 380
55 5
1 583
1 420
163
1 558
1,011
;
r
562
57.6
57.7
4167
88
419 5
86
406 6
86
546 5
511 5
534 2
522 5
2353
484
2269
46.3
231.3
47.5
226.9
46.6
204.0
53.7
40 2
532.6
214.8
48.0
64
566.3
195.5
42.9
152
518.7
204.0
51.4
62
554.9
196.6
52.3
69
545.9
21
21.7
50
24.9
1.0
18.7
1.9
22.6
3.6
25.6
122
59.8
64.^
S-28
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
SURVEY OF CURRENT BUSINESS
,, .,
February 1990
1988
Annual
1990
1989
Unlts
1987
1988
Jan.
Dec.
Feb.
Mar.
Apr.
June
May
July
Aug.
Sept.
Oct.
Nov.
Jan.
Dec.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS +— Continued
All oils, supply, demand, and stocks— Continued
Domestic product demand, total #
mil. bbl..
Gasoline
do....
Kerosene..
do....
Distillate fuel oil
do
Residual fuel oil
do
Jet fuel
do
Lubricants
.
do
Asphalt
do
Liquefied petroleum gases
do....
Stocks, end of period, total
do ....
Crude petroleum
do
Strategic petroleum reserve
do
Unfinished oils, natural gasoline, etc
do....
Refined products
do....
Refined petroleum products:
Gasoline (incl. aviation):
Production
do
Stocks, end of period
do
Prices, regular grade (excl. aviation):
Producer Price Index
1982=- 100 ..
Retail, U.S. city average (BLS):
Leaded
$ per gal..
Unleaded
do....
Aviation gasoline:
Production
mil. bbl ..
Stocks, end of period
do....
Kerosene:
Production
do
Stocks, end of period
do....
Producer Price Index (light
distillate)
1982 — 100
Distillate fuel oil:
Production
mil. bbl ..
Imports
do
Stocks, end of period
do ....
Producer Price Index (middle
distillate)....
1982 — 100
Residual fuel oil:
Production
mil bbl
Imports...
. do
Stocks, end of period
do....
Producer Price Index
1982 — 100
Jet fuel:
Production
mil bbl
Stocks, end of period
do....
Lubricants:
Production
do ....
Stocks, end of period
do
Asphalt:
Production
do
Stocks, end of period
do
Liquefied petroleum gases:
Production, total
do
At gas processing plants
(L.P.G.)
do....
At refineries (L.R.G.)
do
Stocks (at plants and refineries)
do....
6,082.7
2,639.1
34.5
1 086 4
461 5
5055
587
1703
588.3
1,607.5
889 6
5406
569.3
6,325.7
228.3
2,694.8
4.8
35.2
110 4
1 142 5
544
504 3
47 8
5302
36
566
1712
70
62.3
606.1
1,597.2 1,597.2
8899
889 9
5595
559 5
533.6
209.4
4.4
102 2
49 5
462
43
43
63.6
1,619.5
8948
5615
497.4
199.1
3.6
955
47 1
428
43
56
57.1
1,601 6
896 6
563 9
555.1
230.8
2.6
106 3
47 6
458
57
71
56.2
1,569 5
892 5
566 2
496.8
215.4
2.0
89 2
42 6
41 2
46
108
45.2
1 595.9
907 4
568 0
511.1
230.7
1.6
91 7
34 2
41 2
57
15 5
42.0
1,622 4
9157
5704
521.7
234.9
2.0
89 9
35 5
44 6
50
186
42.5
1,607.7
9028
571 7
508.7
227.7
1.5
80 3
39 9
44 1
40
214
41.8
1,647.9
9064
574 4
536.5
240.2
1.3
92 1
34 2
45 8
49
249
44.4
1,654.4
916 2
5754
499.0
217.6
1.3
87 2
29 1
44 8
47
195
46.9
1,669.6
9122
577 1
530.5
225.6
2.8
96 0
39 5
46 0
51
198
52.6
1,663.4
914 4
5783
516.7
221.5
3.1
99 5
37 4
45 5
44
120
49.3
1,670.3
9307
5795
138.3
5795
145.8
561.6
145.8
561.6
151.8
572.9
154.8
550.1
156.2
5207
158.0
530.5
163.0
5438
160.3
544.7
157.5
584.0
155.7
582.5
158.8
598.6
162.4
586.6
159.7
580.0
2 506 2
191 1
2 5552
1920
227 2
1920
2156
2078
1867
2057
2057
191 1
2052
190 6
215 8
1858
219 6
1804
228 9
1922
2229
1842
2129
1880
213 1
1859
212 1
1877
58.2
55.1
55.3
57.4
60.6
74.5
80.1
78.0
74.7
64.7
900
.946
885
.930
876
.918
886
.926
.907
.940
1047
1.065
1098
1.119
1093
1.114
1075
1.092
1034
1.057
9.1
2.3
9.3
2.1
.8
2.1
.6
2.0
.6
2.2
.7
2.1
.6
1.8
.9
1.8
.9
2.0
.9
2.0
1.0
1.8
287
8.4
288
7.3
31
7.3
34
7.3
20
5.9
24
5.7
20
5.8
14
5.7
21
5.8
17
6.0
54 1
251 6
504
54 6
543
557
58 3
58 3
554
996.6
932
134.5
1,046.3
110 4
123.5
95.1
127
123.5
92.2
102
120.3
78.4
90
107.5
84.1
136
96.6
83.6
90
98.4
85.2
90
99.3
84.3
70
99.4
2
59.5
.897
.948
2
67.3
63.6
61,5
69.0
1001
1.027
975
;999
.961
.980
1.006
1.042
1.0
1.9
.9
2.2
.8
2.1
17
6.5
24
7.6
23
7.5
28
7.5
54 7
55 5
58 1
60 9
64 0
88.2
104
115.4
90.1
79
116.1
88.5
73
122.2
90.1
79
121.4
923
89
119.4
67.1
1.007
1.029
646
762
49 5
50 6
549
540
57 3
61 5
57 5
53 3
527
53 5
593
640
64 4
681
853
3232
2061
474
531
3387
2359
44 6
2
41 1
33 1
302
44.6
40 0
294
272
470
42 1
260
242
460
437
290
218
424
43 5
27 1
204
402
47 3
289
163
426
49 4
285
154
448
51 2
266
169
43.0
49 4
279
148
445
48 1
256
12.6
49.5
468
310
178
514
48 2
323
161
52.5
492
520
574
490 1
49.9
501 3
43.8
458
43.8
466
44.5
394
43.7
43 3
44.0
38 1
44.2
387
45.4
40 5
44.6
43 7
47.4
44 6
48.3
43 3
48.6
46 6
50.4
45 4
51.5
60.9
13 3
62.3
13 3
5.0
133
5.4
14 3
4.6
14 5
5.2
13 9
4.6
13 5
5.3
13 2
5.0
13 0
5.6
14 3
5.3
14 5
4.8
14 2
4.4
13 2
5.0
13 3
158 4
18 8
162 1
20 8
85
20 8
84
256
82
29 i
10 2
32 6
10 5
33 1
140
32 4
15 5
30 6
17 7
27 9
183
21 8
182
21 9
147
17 8
114
18 2
6382
6652
56 1
582
50 2
58 9
58 5
60 3
54 7
57 6
554
520
520
49 0
474.5
1637
97.1
482.6
1826
97.3
41.5
147
97.3
41.8
163
87.0
36.4
13 9
77.5
41.6
17 3
75.0
40.6
17 9
83,8
40.4
199
97.2
35.6
19 1
105.2
38.0
196
117.7
36.7
187
126.2
35.0
170
126.4
36.3
157
118.8
35.8
13.2
109.5
55 5
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD
Receipts
thous cords (128 cu ft )
Consumption
do
Inventories, end of period
do
1
94
1
312
93 946
5 096
1 95 537
1
95 497
4888
8 370
8'l98
4 888
8440
8358
4 861
7 748
7 837
4 701
8 035
8 169
4 490
7 858
8040
4 402
8 005
8'll2
4 320
8 358
8348
4 343
8476
8 548
4 191
8946
8 498
4 415
8 491
8 167
4891
8 876
8'331
5 405
8 202
8 070
5581
WASTE PAPER
Consumption
thous. sh. tons..
Inventories, end of period
.
do
1
17,993
902
1
18 860
1 035
1526
1 029
1 572
1 008
1 498
988
1 615
1 012
1 555
1 024
1 624
1 024
1 591
1 037
1 576
1 007
1726
r
l 096
'I 665
1 079
1 752
1 078
1 676
1 109
1
59,552
1 312
48 293
1
61, 161
1 367
49 493
5,282
127
4303
5,466
127
4423
4,821
102
3 935
5,307
142
4 286
5,193
106
4 209
5,087
109
4 125
5,102
102
4 167
5,399
144
4377
5,301
108
4322
r
5,063
128
4 069
5,295
109
4 277
5,022
132
' 4 033
WOODPULP
Production:
Total
thous. sh. tons ..
Dissolving pulp
do
Paper grades chemical pulp........
do
Groundwood and thermomechanical..
do
Semi-chemical
do
Inventories, end of period:
Producers' own use .
do
Producers' market
...
do
Consumers' purchased
do
Exports, all grades, total
thous. met. tons..
Dissolving and special alpha
do
All other
do
Imports, all grades, total
do...
Dissolving and special alpha
do....
All other
do
See footnotes at end of tables.
5702
4 246
5943
4 358
484
367
520
397
438
346
502
378
512
366
497
356
480
353
510
368
511
359
505
361
530
379
505
351
170
224
529
1
4,727
627
1
4 100
1
4,531
87
;
4 444
172
261
622
1
5,160
786
'4 374
'4505
124
M381
172
261
622
519
81
438
285
16
269
178
344
596
5
415
3
50
J
365
3
517
J
23
3
494
178
354
608
460
63
397
358
14
345
179
279
592
565
78
487
425
21
404
190
306
596
476
61
415
380
17
363
162
305
628
457
59
398
382
9
373
164
300
588
510
72
438
354
6
348
191
320
573
490
56
434
325
7
318
193
353
591
484
74
410
428
19
409
205
364
590
497
55
442
389
19
371
187
382
551
455
61
395
401
7
394
187
445
529
314
48
266
352
5
347
530
82
449
362
15
347
S-29
SURVEY OF CURRENT BUSINESS
February 1990
Unless otherwise stated in footnotes
below, data through 15)86 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
1988
Annual
., ,;
unus
1987
1988
Dec.
1990
1989
Jan.
Feb.
Mar.
Apr.
May
June
July
Oct.
Sept.
Aug.
Nov.
Dec.
Jan.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS
Paper and board:
Production (API):
Total
thous sh tons
Paper .
do
Paperboard
do
Producer Price Indexes:
Paperboard
.1982-100
Building paper and board
do..
Selected types of paper (API):
Groundwood paper:
Orders, new
thous sh tons
Orders, unfilled, end of period
do....
Shipments
do
Coated papers:
Orders, new
.
do
Shipments
Uncoated free sheet:
Orders, new
Unbleached kraft papers:
Shipments
Tissue paper, production
Newsprint:
Canada:
do.
do
118 1
1112
1332
1133
6 296
3 140
3 155
6582
3 297
3 285
5985
2989
2996
6638
3 348
3 290
6 191
3 042
3 150
6 424
3 157
3 266
6 326
3 104
3 222
6326
3067
3 259
r
6615
r
3 303
r
r
6 284
3*168
3 116
r
6 616
r
3312
3368
3247
6372
3230
3142
6140
3,073
3,066
1365
113.3
1377
112.9
1387
113.8
1404
1142
1423
115.1
1425
1155
1410
1158
139.5
116.4
1400
116.2
139.7
116.3
140.0
117.3
139.7
117.0
139.6
117.0
r
r
'I 542
'l66
1498
'1 654
208
'1624
177
208
125
140
182
148
127
180
133
163
204
147
134
178
149
154
186
151
149
199
139
151
191
148
168
'217
153
177
238
152
152
212
167
129
196
153
150
211
123
'7 066
708
6860
'7 412
751
7359
570
751
573
588
678
633
561
696
550
599
701
604
505
647
544
613
698
580
636
737
580
650
824
572
r
659
r
850
r
r
876
r
633
r
667
r
552
832
616
585
822
585
'11 173 '11298
1
11 206 '11 494
989
948
931
976
884
912
1015
1 021
870
923
864
955
916
902
868
867
1017
968
r
995
983
967
943
914
878
1
861
653
611
652
r
950
901
'2840
'5,301
'2800
'5,476
258
450
272
466
235
437
264
503
199
451
206
474
229
469
212
458
227
484
210
473
239
489
241
474
216
460
do
do
9669
9757
189
9969
9 867
291
809
874
291
850
763
378
777
731
425
806
814
418
814
785
446
838
851
434
780
821
412
814
775
451
837
811
477
760
830
407
847
853
401
787
816
372
748
816
304
do
do
do....
5300
5310
36
5427
5415
48
464
475
48
460
437
71
404
412
64
469
462
70
449
442
78
458
462
73
452
452
73
474
472
74
462
469
67
469
470
66
477
478
66
468
481
53
483
480
56
12322
12336
1 037
963
934
1 052
1 057
1 044
988
955
1 002
1 034
1 108
1098
1069
900
8142
932
7794
933
489
936
3
782
925
569
889
673
850
612
838
673
829
600
843
537
848
714
824
618
793
667
thous sh tons
do....
Shioments from mills
Inventory end of oeriod
United States:
Production
Shipments from mills
Inventory, end of period
Estimated consumption, all
users Q
Publishers' stocks, end of period #
'74318 n 76 604
38298
36876
37 442 r38 306
do
Imports
do
Producer Price Index,
standard newsprint
1982=100..
112.3
127.6
Paper products:
Shipping containers, corrugated and solid
fiber shipments
mil. sq. ft. surf. area.. 297,827 1,788,044
r
758
628
766
605
126.6
126.5
126.0
126.6
126.5
123.2
122,0
121.3
120.7
120.4
118.8
118.6
117.8
23,551
26,444
24,086
26,755
26,367
26,734
26,391
24,550
27,709
25,354
28,961
25,183
23,131
73 25
83 32
7042
998
64 16
87 74
71.59
8535
8388
79.68
204 71
181 53
329 62
54 64
19382
18453
33033
4359
4439
16323
21924
4706
16,011
1 206
38378
1,412
1,396
r
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
thous metric tons
775 82
85828
Stocks, end of period . ..
do
61 74
7246
Imports, incl. latex and guayule
do.... 75760
85382
U.S. Import Price Index t
1985—100
1477
1157
Synthetic rubber:
Production
thous metric tons 2 184 12 2 334 72
Consumption
do
2017 31 201685
Stocks, end of period
do
27928
22972
Exports (Bu. of Census)
do
45998
42940
TIRES AND TUBES
Pneumatic casings:
Production
Shipments, total
Original equipment
Replacement equipment..
Exports
Stocks, end of period
Exports (Bu. of Census)
Inner tubes:
Exports (Bu. of Census)
See footnotes at end of tables.
thous ' 202 978 '211 351
do
255 220 264 811
do
62932
60758
do..
186 406 189 212
do
12666
8056
do
33 191
34 338
do....
16,149
9,580
do
1 518
1 712
8988
71 11
99 31
51 14
67 51
52 16
96 57
77 37
99 09
135 1
68 38
82 18
7455
8786
8667
8748
65 10
86 21
6378
1060
8270
86 16
7786
72 22
8806
6705
18986
151 42
279 28
32 12
20631
191 73
288 86
3
42 40
181 77
17298
287 74
4566
20620
18942
294 40
54 98
207 17
194 68
299 60
41 27
189 07
170 69
300 42
5439
179 59
16541
303 67
51 30
17865
167 88
30866
4371
186 21
172 60
314 14
48 21
16 102
20635
4 934
14708
993
33 191
1,314
18 944
21 466
5 485
14 576
1405
35 186
3
1,903
18 102
19 613
5 348
12*886
l'377
37 884
1,373
19 670
22 166
5 569
l'588
40 552
1,692
19 224
22375
5 770
15221
1 384
42 791
1,634
19090
23022
5 806
15'896
1 320
43 580
1,343
18312
24 558
5 130
18 198
1 231
42695
1,295
14835
19927
3 174
15554
1 198
42596
1,602
18288
23955
4*969
17 488
1 497
41 902
2,112
122
126
7522
61 74
7473
1327
132
3
3
243
is'oos
143
201
137
133
181
r
r
r
r
201 66
171 11
323 42
54 54
16963
23 151
4 947
ie'913
1 291
39852
1,566
121
18400
23335
4910
17003
1 422
39 156
1,790
136
96
39.63
1003
174
138.8
116.1
117.9
S-30
Unless otherwise stated in footnotes
below, data through 198(> and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
SURVEY OF CURRENT BUSINESS
,, .,
February 1990
1988
Annual
1990
1989
umls
1987
1988
Dec.
Jan.
Feb.
Mar.
May
Apr.
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
thous. bbl.. '481,160 '477,958
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil. standard brick ..
Structural tile, except facing
thous. sh. tons..
Sewer pipe and fittings, vitrified
do,...
Floor and wall tile and accessories, glazed
and unglazed
mi. sq. ft..
Producer Price Index, brick and structural
clay tile
12/84 — 100
r
7,272.9
(2)
'320.6
478.9
1082
r
6,930.0
(2)
r
300.9
r
32,505
r
458.7
13.5
Building plasters, total
(incl Keene's cement)
Board products, total
Lath.
Veneer base..
Gypsum sheathing
Type X gypsum board
Predecorated wallboard
Water /moisture resistant board
39,261
44,585
47,085
43,782
51,782
45,282
49,298
40,234
26,303
500.4
4.7
18.4
429.9
4.7
14.3
554.8
(2)
21.4
569.2
(2)
24.8
636.6
(2)
25.8
625.9
(2)
24.4
587.4
(2)
22.4
690.2
(2)
21.4
593.0
(2)
19.4
634.5
(2)
r
22.4
537.1
(2)
20.6
366.5
(2)
17.1
40.4
39.3
42.4
46.6
41.5
46.2
46.9
38.8
48.8
42.6
44.5
39.2
34.8
1109
111 2
111 6
111 6
112 0
111 9
111 6
111 7
111 8
111 8
112 0
111 8
112 1
1122
22237
21944
22352
20,936
23837
24831
25784
25,561
25175
26,442
24,311
23,425
25,837
26,010
21,837
22,101
25,258
23,363
20,963
20,688
17,238
19,649
1,460
1 330
875
'6324
'5375
564
'496
'150
13
'280
1
20,507
23
'479
'313
1 13 920
do....
'4,489
do
'128
'598
do ....
'557
33,782
r
1
15,612 '16,390
' 17 592 ' 17 274
'9679
9717
do
mil. sq. ft..
do
do ..
do
23,133
470.7
GLASS AND GLASS PRODUCTS
Flat glass mfrs ' shipments
thous $ 1 457 5871 484 949 383 612
Glass containers:
17458
Production t
thous. gross . 285 030 284 473
20189
Shipments, total t
do.. . 281,636 280,439
Narrow-neck containers:
1 133
22 100
27252
Food t
•
do
Beverage .
do
62434
4 531
63 551
Beer
do
6403
86285
85357
Liquor and wine f
do
1719
26491
28382
Wide-mouth containers:
Food and dairy products
do.... 62,673
66,675
4,908
Narrow-neck and wide-mouth containers:
Medicinal and toilet
do....
1,343
13,980
14,167
Chemical, household, and in152
1 371
1 357
42,296
42,296
Stocks, end of period t
•
do.... 41,926
GYPSUM AND PRODUCTS
Production:
Crude gypsum (exc. byproduct) thous. sh. tons..
Calcined
do
Imports, crude gypsum
do
Sales of gypsum products:
Uncalcined
do
Calcined:
27,176
235
'20,563
21
472
'311
' 13 888
'4,583
'132
'605
'550
25482
24 178
386 300
403 583
418 513
r
r
1 605
4528
7390
1959
1 668
4 304
6767
1883
1 852
5 201
7767
2113
1 939
6 114
7 940
2154
2334
6250
8018
2391
2342
6499
8279
2599
2025
6040
7775
2198
2394
6228
7971
2,222
2066
5061
6749
1,971
1767
5,242
7,029
2,187
1337
4,727
6,460
1,964
1,385
4,164
6,353
2,036
5,635
5,402
6,351
5,810
5,621
5,885
4,779
6,390
5,481
6,272
5,480
4,981
727
796
768
752
100
42,807
116
44,078
126
49,628
122
44,423
1,090
1 400
1,160
1 300
1,130
1 570
758
1,100
1 450
915
365
380
418
413
1128
r
755
555
719
702
777
655
643
79
44,862
83
43,866
53
44,409
86
44,186
71
43,820
89
44,590
65
r
45,243
87
42,312
1,110
1320
913
1,210
1430
778
1,310
1400
731
1,360
1490
838
1,410
1,420
820
1,460
1,580
758
1,890
1,900
431
433
281
477
461
458
430
(4)
16
1,641
1
4
31
1,700
1
29
1,644
2
31
1,874
2
1,698
2
1,744
1
37
30
1 005
453
10
53
53
40
20
1 027
484
10
61
56
39
18
1 010
460
9
51
55
42
22
1 134
542
10
62
61
43
22
997
500
9
67
58
47
24
1 036
507
10
62
58
(2)
(2)
(2)
1,773
2
40
25
1 061
520
9
59
57
(2)
(2)
1
1,953
2
35
22
984
501
9
59
57
44
25
1 167
569
10
73
64
1,669
(2)
(2)
1,722
1
39
21
1 039
499
9
60
54
1,918
1
41
26
1 144
560
10
73
63
(2)
1,700
1
37
23
1036
488
9
52
55
TEXTILE PRODUCTS
FABRIC
Woven fabric, finishing plants
Production (finished fabric)
mil. linear yd,
Cotton
do
Manmade fiber and silk fabrics
do
Inventories held at end of period
do
Cotton
do
Manmade fiber and silk fabrics
do
Backlog of finishing orders
do
Cotton
do
Manmade fiber and silk fabrics
do.
COTTON AND MANUFACTURES
Cotton (excluding linters):
Production:
Ginnings <0
.. .thous running bales
Crop estimate
thous. net weight bales § .
Consumption
thous. running bales..
Stocks in the United States, total, end of
period #
thous. running bales..
Domestic cotton, total
•.
do....
On farms and in transit
do....
Public storage and compresses
do....
Consuming establishments .. .
do
See footnotes at end of tables.
14,3,59
14,760
7,446
14,985
15,412
7,294
14,277
13,722
13,722
2,525
10,555
642
16,062
16,062
1,957
13,524
581
16,062
16,062
1,957
13,524
581
3
554
r
568
570
14,809
14,809
1,081
13,141
587
13,705
13,705
1,026
12,048
631
3
734
611
631
12,349
12,349
993
10,734
622
10,683
10,683
707
9,353
623
9,951
9,951
1,076
8,229
646
90
382
781
545
663
8,580
8,580
1,219
6,760
601
6,985
6,985
450
5,929
606
17,382
17,382
11,807
4,975
600
3
981
5,806
10,357
829
665
617
11,558
12,233
3
653
592
16,195
16,195
11,147
4,458
590
15,157
15,157
7,227
7,378
552
13,917
13,917
2,815
10,558
544
12,803
12,803
1,457
10,762
r
584
11,302
11,302
1,090
9,552
660
r3
5
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 198(5
S-31
SURVEY OF CURRENT BUSINESS
February 1990
1988
Annual
., .,
1987
1988
1990
1989
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Jan.
Dec.
TEXTILE PRODUCTS—Continued
COTTON AND MANUFACTURES— Cont.
Cotton (excluding linters) —Continued
Exports
thous. running bales .
Imports
thous net-weight bales §
Price(farm), American upland 0
cents per lb..
Price, Strict Low Middling, Grade 41, staple 34
(IVie") average 10 markets
cents per lb
Spindle activity (cotton system spindles):
Active spindles, last working
day, total
mil
Consuming 100 percent cotton
do
Spindle hours operated, all
fibers, total
bil
Average per working day
do
Consuming 100 percent cotton
do
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly )
mil sq yd
Orders, unfilled, end of period, compared
with average weekly production
no weeks' prod
Inventories, end of period, compared with
avg. weekly production
no. weeks' prod .
Ratio of stocks to unfilled orders (at cotton
mills), end of period
Exports, raw cotton equivalent
thous net-weight bales §
Imports, raw cotton equivalent
do....
Producer Price Index, gray cotton
broadwovens
1982—100 .
5683
2
63.7
5649
1
J
55.6
3
3
684
(i)
52.8
619
1
55.6
610
2
58.7
672
233
58.3
57.2
850
(i)
59.5
480
(i)
'60.2
54 8
55 6
554
57 6
61 4
637
64 1
67 4
69 9
11 5
44
11 5
44
11 3
43
11 2
42
11 1
43
11 1
43
11 1
44
11 2
43
10 8
43
829
319
323
78 1
302
289
4
59
293
22
4
60
300
23
4
4772
4 518
1029
2600
1,617.2
250 4
1,146.8
254
109.4
63 1
11 6
46
1052
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other),
shipments, quarterly #
mil. sq. yds
632
(i)
55.3
51 1
5
114 4
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly
Acetate filament yarn
mil lb
213.9
191.1
Rayon staple, including tow
do
399.8
413.8
Noncellulosic, except textile glass
Yarn and monofilaments
do
4,009.7 4,180.3
Staple, incl. tow...
do
4,306.2 4,345.6
Textile glass fiber ...
do
Fiber stocks, producers', end of period:
Acetate filament yarn
mil lb
14.2
11.4
Rayon staple, including tow
do
14.0
20.7
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
do
298.4
288.6
Staple, incl. tow....
do
298.4
319.6
Textile glass fiber ....
do
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total
mil sq yd
Filament yarn (100%) fabrics
do.
Chiefly rayon and /or acetate
fabrics
do
Chiefly nylon fabrics
do
Spun yarn (100%) fabrics
do
Rayon and/or acetate fabrics, blends....
do
Polyester blends with cotton
do,
Acetate filament and spun
yarn fabrics
do....
Producer Price Index, gray synthetic
5
broadwovens
1982 = 100 ..
112.7
105.6
Manmade fiber textile trade:
Exports, manmade fiber equivalent
mil. Ibs.. 591.87
684.75
Yarn, tops, thread, cloth
do
282 19
260 31
Cloth, woven
do
15265
169 31
Manufactured prods., apparel,
furnishings
do
331 56
402 56
Imports, manmade fiber equivalent
do.... 1,805.44 1,735.70
Yarn, tops, thread, cloth
do.... 280.00
258.18
Cloth, woven
do
182 52
179 23
Manufactured products, apparel,
furnishings
do
1 525 44 1 477 52
Apparel, total
do
1 033 22 991 03
Knit apparel
do
443 03
48536
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
Apparel class
mil. lb..
Carpet class
do....
Wool imports, clean yield
do....
Duty-free .. .
do
Wool prices, raw, shorn, clean basis, delivered
to U.S. mills:
Domestic— Graded territory, 64's, staple 2%"
and up
dollars per lb
Australian, 64's, Type 62, duty-paid
do....
Wool broadwoven goods, exc. felts:
Production (qtrly.)
mil. sq. yd..
6
448
6
1
54.7
3
63
251
4
22
112.3
58
288
21
12
289
26
4
1 150
1124
111.3
110.9
15
299
29
4
1109
1105
1101
19
317
29
r4
1094
1098
1098
11.3
11.7
89
158
11.6
18.1
2886
298.4
302.0
311.3
322.2
351.0
351.9
362,5
4 50
5.11
4 38
4.84
56
r
279
21
58
290
22
1104
115.2
4
65
261
4
2A
2.0
111.6
113.5
112.8
115.8
116.8
117.1
1 135
11.4
14.0
112.2
U2.1
113,1
114.7
115.0
13.7
1.6
9.0
38
10.4
1.6
13.1
32
8.7
1.4
10.3
31
'11,9
4
1.5
8.3
30
9.3
1.2
10.0
20
9.7
1.5
6.9
21
4 10
4.54
3 75
4.29
3 75
4.14
3 65
4.03
3 50
4.05
3 50
4.10
115.0
59.98
27 32
15 64
32 66
123.37
1860
12 47
104 77
6571
2673
4
11.2
4
117.1
15.6
96.7
24 4
265
3.24
4 33
4.87
4 50
4.75
191.2 .
44.7
47.5
n.o
4
r
4
10.8
1.8
3.9
15
9.4
1.3
10.4
32
r
3 50
4.14
3 50
4.17
333
4.17
4
48.9
39.9
3335
12632
12733
3043
310 0
3482
18,416
160,488
8972
96 417
4,234
36,510
2,076
20735
3,618
50,823
2280
29 210
4,564
47,332
2328
26270
276 364
33.721
69088
7.916
74400
9.931
78626
9.992
108
313
21
1,050.2
1,053.4
6.7
13
4.2
107
4.2
r
1,097.3
1,134.1
11.1
1.3
11.3
29
10.7
4.3
107
42
1,065.1
1,103.9
10.6
.8
8.7
2i
62.2
107
42
1,059.2
1,124.5
112.2
"60.2
636
4
56.7
83.2
112.0
650
(x)
'61.4
107
42
558
1012
114.3
496
(i)
65.4
r
683
52.7
100.8
114.6
65.7
694
1- 193
APPAREL
Women's, misses', juniors' apparel cuttings: t
Coats
thous. units.. 23,982
Dresses
do.... 174,982
Suits (incl. pant suits, jumpsuits)
do
7,458
Skirts
. .
do
111 162
Slacks, jeans, dungarees, and
jean-cut casual slacks
do
294791
Blouses
thous. dozen.. 30.595
See footnotes at end of tables.
60
301
18
495
('!)•
r
685
55.5
92.6
129.7
13.1
105.1
31 1
168.9
59
296
22
466
(i)
63.9
r
9.0
1.0
5.1
13
4
10.9
1.1
9.8
18
4
300
4.20
2 94
4.17
S-32
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
SURVEY OF CURRENT BUSINESS
,, .,
February 1990
1988
Annual
1990
1989
Units
1987
1988
Dec.
Jan.
Feb.
Mar.
Apr.
May
Jan.
July
Aug.
Sept.
Oct.
Nov.
Dec.
3 626
3 990
124710
29 445
2.8 485
30 745
28 992
27.930
34.710
30.943
27.492
1,613.0
1,117
1,414.4
1,378
1,792.8
1,020
2,331.4
1,836
1,385.0' 1,080.2
485
1,322
1,761.7
1,161
June
TEXTILE PRODUCTS—Continued
APPAREL— Continued
Men's apparel cuttings: :a:
Suits
thous units
12296
Coats (separate) dress and sport
do
18 323
7
Trousers, slacks, jeans pants etc
do
481 667
Shirts, dress and sport ..
.. thous. doz
83 756
Hosiery, shioments...
thous. doz. nairs.. 308.982
13 413
17 435
428 231
85338
322 1 24
3 558
4 191
94 252
21662
25 1 20
29 503
4 103
4 574
110 884
27 348
29 1 83 29277
31 136
25 296
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders new (net) total
mil $ 3 121 224 3147 128
3
U.S. Government
do
66 264 3 67 850
3
Prirrie contract
.
do
117 434 3 143 421
Sales (net), receipts, or billings,
total
do.... 3 110,301 3 113,548
3
U.S. Government
do
68 632 3 68 104
Backlog of orders, end of period #
do.. 3 158,650 3 191,518
3
U.S. Government
do..
92,439 33 92,394
;
3
Aircraft (complete) and parts
do
64 494 3 87 865
3
Engines (aircraft) and parts
do
23 415
15 521
Missiles, space vehicle systems, engines,
3
propulsion units and parts
mil $
30 544 3 29 078
Other related operations (conversions, modi3
16 930 3 17 895
fications), products services
mil $
Aircraft (complete):
Shipments
do.... 12,491.7 16,019.9
9,971
7,380
Exports, commercial
do ....
1,476.2
829
774.1
4
620
1,016.2
810
1,597.2
1,320
1,364.5
1,241
1,394.3
1,104
MOTOR VEHICLES (NEW)
Passenger cars:
Factory sales (from U.S. plants):
r
5
453
535
618
576
540
275
612
672
654
606
616
Total
thous
651
584
7 105
7 085
r
r
r
5
401
482
568
523
499
Domestic
do
248
559
618
585
544
570
533
584
6437
6 487
655
686
750
840
977
849
899
973
912
887
754
721
882
10,639
10,278
Retail sales, total, not seas, adj -;
do .
456
474
524
610
685
Domestics §..........
do ....
603
667
642
554
512
617
641
710
7,539
7,081
199
213
226
230
Imports §
do....
291
262
245
258
245
246
201
209
265
3,099
3,197
9
8.9
85
88
107
11 4
Total seas adj at annual rate
mil
102
98
108
97
99
11 4
10 3
99
9
6.5
6.0
61
78
83
Domestics §
do
7
5
7
0
76
68
70
75
71
84
9
2.4
2.7
2.5
2.8
31
Imports §
.
do
28
29
29
32
29
28
28
31
Retail inventories, domestics, end of period: §
1,669
1,658
1,550
1,439
1,450
1,565
1,845
1,844
1,836
1,838
1,810
1,736
1,601
1,680
Not seasonally adjusted
thous..
1,601
r
9
1,686
l,691
1,644
1,562
1,578
Seasonally adjusted
. «do ..
1555
1709
1702
1690
1667
1,649
1619
1619
1,701
1732
9
3.1
3.4
32
24
23
Inventory-retail sales ratio domestics §
25
30
28
27
30
28
28
23
26
29
4
63.72
67.31
68.81
57.88
48.34
Exports (BuCensus), total
do.... 627.65
39.04
765.12
62.74
71.37
80.16
82.94
71.74
55.68
58.24
4
40.30
45.02
47.87
To Canada:
:.....
,
.....:.....do .... 561.88
48.08
39.59
26.87
49.67
52.26
58.73
65.69
55.02
40.14
616.18
40.61
4
3558
3521
2933
Imports (ITC) complete units
do
279 0
298 4
3528
4157
4 589 0 4450 2
339 1
356 4
3747
3726
324 8
4
ggg.
116.0
1032
934
From Canada, total
do
706
9269 1 191 4'
63 6
100 5
102 1
1124
860
109 5
999
1
1
694
666
800
956
Registrations <>, total new vehicles
do....
880
10,480
10,166
733
896
830
950
885
843
833
722
Imports, including domestically
;
265
262
303
354
sponsored
do
331
252
283
3654
304
324
317
'3710
293
282
258
Trucks and buses:
Factory sales (from U.S. plants):
S
r
289
314
Total
do ..
300
316
347
327
4 121
3821
220
383
389
373
365
365
401
6
r
265
290
Domestic
do . ..
275
289
328
3795
3,509
205
303
358
361
334
343
338
366
Retail sales, domestics:
321.5
326.8
326.4
382.5
4103
Total, not seasonally adjusted
do
40884 4 544 5
3899
3894
421 8
398 9
4052
337 7
3268
3592
296.7
304.1
297.6
0-10,000 Ibs. GVW
do
357.0
382.1
3,786.1 4,195.1
361.7
359.1
391.2
313.1
300.1
329.0
368.6
375.6
24.9
22.7
28.8
10,001 Ibs. GVW and over
do....
25.5
28.2
283
3023
303
307
301
3487
303
29 5
267
246
9
347.3
336.6
344.4
411.5
432.8
Total, seasonally adjusted
do....
379.6
351.9
362.6
372.1
397.0
349.2
365.2
381.6
9
322.3
311.5
316.2
385.9
342 6
0-10,000 Ibs.. GVW
do
404.1
351 6
324
2
334 0
3227
369 2
3366
3493
9
25.0
25.1
28.2
25.6
28.7
10,001 Ibs. GVW and over
do.. .
280
276
294
286
278
265
322
286
Retail inventories, domestics, end of period: t
Not seasonally adjusted
thous..
999.3
967.9
999.3 1,093.7 1,170.5 1,197.1 1,208.9 1,225.2 1,252.3 1,114.4 1,107.8 1,078.8 1,102.6 1,146.8 1,134.9
Seasonally adjusted
do. . 1 0154 1 041 6 1 041 6 1 067 8 1 101 51 118 71 129 8 1 158 01 200 5 r l 212 3 1 209.8 1, 177.2 r l, 147.2 1,158.8 1,171.2
4
17 gg
15.71
15.01
17 15
21 15
Exports (BuCensus).
do
1564
229 27
10 66
23 35
24692
1536
1873
21 60
19 23
17 91
Imports (BuCensus), including separate
79.64
•' 81.70
8820
7058
chassis and bodies
do
6906
74 85
1 378 19 1 155 66 107 89 4 103 34
83 30
8964
101 92
103 61
76 34
Registrations <>, new vehicles, excluding buses
388
371
423
493
441
not produced on truck chassis
thous ..
430
477
'5,211
'4,964
446
427
428
374
371
445
Truck trailers .and chassis,, complete (excludes
11,874
3,378 11,981
13302
detachables), shipments
number
15 850
180 142 186 483
11 427
16395
14 223
15034
15234
16 247
14 141
15436
r
8,965
8,813
Van type
..'
do
9,697
9,881
11,868
7 950
11 002
10764
10 559
11 161
135 380 131 991
11 854
11 746
10 137
Trailer" bodies (detachable), sold
(ii)
separately
.
.,
do
5223
438
563
Trailer chassis (detachable), sold
637
3 047
2 183
separately
do
1 527 1 182
23 014
1 557
1 309
37 729
1 016
2 180
2645 a i 789
2613
1 857
RAILROAD EQUIPMENT
Freight cars (new),' for domestic use; all
railroads and private car lines (excludes
rebuilt cars and cars for export):
Shipments
number
Equipment manufacturers
do...
New orders
do
Equipment manufacturers
do
Unfilled orders, end of period .
do
Equipment manufacturers
do....
Freight cars (revenue), class I railroads(AAR): :j:
Number owned, end of period
thous ..
Capacity (carrying), total, end of month
mil. tons ..
Average per car
tons
See footnotes at end of tables.
13645
13,645
18 504
18 504
6736
6,736
22524
22,524
28871
28 871
15 953
15,953
7864
7,864
8 044
8044
15953
15,953
7286
7,286
11 040
ll'040
19707
19,707
7,697
7,672
8221
8 196
16,691
16,691
6821
6,821
6 117
6 117
15694
15,694
7 838
7,838
5 649
5*649
16398
16,398
749
725
725
723
721
721
715
714
712
710
707
703
698
694
688
63.63
8501
62.46
8617
62.46
8617
62.34
8616
62.19
86 24
62.26
8634
61.81
8648
61.77
86 52
61.57
86 53
61.45
8655
61.20
8661
60.93
8665
60.54
8671
60.24
86.82
59.73
86.87
(2)
P
754
546
<"208
10.2
7.5
P
2.7
1,464
1,407
2.3
(2)
373.0
349.7
23.3
412.0
385.0
27.0
1,035.4
1,010.3
February 1990
S-33
SURVEY OF CURRENT BUSINESS
FOOTNOTES FOR PAGES S-l THROUGH S-32
Address requests for data to:
General Notes for all Pages:
r
p
e
c
Revised,
Preliminary,
Estimated,
Corrected.
Page S-l
t Revised series. See Tables 2.6 - 2.9 in the July 1989 SURVEY for revised estimates for
1985-88.
t Includes inventory valuation and capital consumption adjustments.
§ Monthly estimates equal the centered three-month average of personal saving as a
percentage of the centered three-month moving average of disposable personal income.
O See note "O" for-p. S-2.
Page S-2
1. Based on data not seasonally adjusted.
O Effective Oct. 1987 SURVEY, the industrial production index has been revised back
to Jan. 1985. These revisions are available upon request.
# Includes data not shown separately.
$ Effective Sept. 1988 SURVEY, data have been revised back to January 1982. Revised
data appear in the report "Manufacturing and Trade Inventories and Sales" CB-88-146,
available from the Bureau of the Census, Washington, DC 20233.
§ Revised series. Data have been revised back to 1985. Revisions are available upon
request.
Page S-3
# Includes data for items not shown separately.
t Revised series. Data have been revised back to 1982. A detailed description of the
changes appear in the report "Manufacturers' Shipments, Inventories, and Orders: 1982-88"
M3-l(88), available from the Bureau of the Census, Washington, DC 20233.
$ See note "$" for p. S-2.
§ See note "§" for p. S-2.
Page S-4
1. Based on data not seasonally adjusted.
# Includes data for items not shown separately.
$ Includes textile mill products, leather and products, paper and allied products, and
printing and publishing industries; unfilled orders for other nondurable goods industries
are zero.
<C> For these industries (food and kindred products, tobacco, apparel and other textile
products, petroleum and coal, chemicals and allied products, and rubber and plastics products)
sales are considered equal to new orders.
t See note "t" for p. S-3.
Page S-5
@ Compiled by Dun & Bradstreet, Inc.
# Includes data for items not shown separately.
§ Ratio of prices received to prices paid (parity index).
t See note "$" for p. S-4.
t In the Feb. and July issues of the SURVEY each year, data for the most recent six to
eight years are subject to revise and are available upon request.
O See note "t" for p. S-6.
tt See note "t" for p. S-3.
Page S-6
§ Effective with the release of the January 1988 index, all producer price indexes previously
expressed on a base of 1967=100, or any other base through December 1981, have been
rebased to 1982=100. Historical data on the new base are available upon request. For
producer price indexes of individual commodities, see respective commodities in the Industry
section beginning p. S-l9. All indexes subject to revision four months after original publication.
# Includes data for items not shown separately.
t Effective with the release of the January 1988 index, all consumer price indexes previously
expressed on a base of 1967 = 100, or any other base through December 1981, have been
rebased to 1982-84=100. Historical data on the new base are available upon request. Beginning
with January 1987, data are calculated using 1982-84 expenditure patterns and updated
population weights. Additional information regarding these changes is available from the
Bureau of Labor Statistics, Washington, DC 20212.
t Effective with the Feb. 1990 SURVEY, data have been revised back to 1985 and are
available upon request.
Page S-7
1. Computed from cumulative valuation total.
2. Index as of Feb. 1, 1990: building, 395.9; construction, 435.2.
3. Beginning Dec. 1988, series has been discontinued by the Bureau of the Census.
# Includes data for items not shown separately.
§ Data for Dec. 1988, and Mar., June, Aug., and Nov. 1989 are for five weeks; other
months four weeks.
O Effective Feb. 1990 SURVEY, data for seasonally adjusted housing starts have been
revised back to 1987. These revisions are available upon request.
t Effective May 1989 SURVEY, data for seasonally adjusted building permits have been
revised back to 1987. Effective May 1988 SURVEY, data for seasonally adjusted building
permits have been revised back to Jan. 1986. These revisions are available upon request.
Business Statistics Branch
Current Business Analysis Division
Bureau of Economic Analysis
U.S. Department of Commerce
Washington, D.C. 20230
@ Effective July 1989 SURVEY, data have been revised back to 1985. In addition to the
normal revisions to the unadjusted and seasonally adjusted data, some total components
have been revised back to 1975 due to revised data for the "Telecommunications" category.
See note "*" for this page. Effective July 1988 SURVEY, the "Improvements" component
of private residential buildings has been revised back to 1982 to adjust for a change in
estimation of the monthly data. Revised data are available from the Construction Statistics
Division at the Bureau of the Census, Washington, DC 20233.
$ Effective July 1989 SURVEY, data have been revised back to 1975 and are available
upon request.
# The "Telephone and telegraph" category has been renamed "Telecommunications"
and now includes estimates for television cable construction. Data were revised back to
1975.
tt Effective Nov. 1989 SURVEY, data have been revised back to 1980 and are available
upon request.
@@ Effective Feb. 1990 SURVEY, data for seasonally adjusted manufacturers' shipments of mobile homes have been revised back to 1987.
Page S-8
1. Advance estimate.
2. Beginning with Feb. 1989 data, associations in conservatorship are excluded.
O Home mortgage rates (conventional first mortgages) are under money and interest
rates on p. S-l4.
§ Data include guaranteed direct loans sold.
# Includes data for items not shown separately.
@ Effective Oct. 1987 SURVEY, data are for closed mortgage loans of thrift institutions
insured by the Savings Association Insurance Fund (SAIF)—FSLIC-insured institutions
prior to Sept. 1989. Historical data back to 1976 are available upon request.
t Effective April 1989 SURVEY, wholesale trade data have been revised back to Jan.
1983. Revised data and a summary of changes appear in the report. Revised Monthly Wholesale
Trade Sales and Inventories BW-13-88S, available from the Bureau of the Census, Washington, DC 20233.
t Effective April 1989 SURVEY, retail trade data have been revised. Estimates of retail
sales and inventories have been revised back to January 1983. A revision in 1988 revised
some series back to 1978. Revised data and a summary of changes appear in the report
Revised Monthly Retail Sales and Inventories BR88-R, available from the Bureau of the
Census, Washington, DC 20233.
tt Beginning with data for 1988, data will be reported on a quarterly basis only.
Page S-9
1. Advance estimate.
# Includes data for items not shown separately.
<> Effective with the January 1990 SURVEY, the seasonally adjusted labor force series
have been revised back to January 1985. The January 1990 issue of Employment and Earnings contains the new seasonal adjustment factors, a description of the current methodology, and
revised data, for the most recent 13 months or calendar quarters. Revised monthly data for
the entire 1985-89 revision period will appear in the February 1990 issue of Employment and Earnings.
t The participation rate is the percent of the civilian noninstitutional population in the
civilian labor force. The employment-population ratio is civilian employment as a percent
of the civilian noninstitutional population, 16 years and over.
@ Data include resident armed forces.
$ See note "$" for p. S-8.
Page S-10
s 9
O See note "O" for P- ~ § Effective with the June 1988 and 1989 issues of the SURVEY, data have been revised,
respectively, back thru April 1986 and 1987 (not seasonally adjusted) and January 1983
and 1984 (seasonally adjusted) to reflect new benchmarks and seasonally adjustments factors. The June issue of Employment and Earnings (for both years) contains a detailed discussion of the effects of these revisions.
Page S-11
$ This series is not seasonally adjusted because the seasonal component is small relative
to the trend-cycle and/or irregular components and consequently cannot be separated with
sufficient precision.
O Production and nonsupervisory workers.
§ Seenote"§"forp.S-10.
PageS-12
1. This series is not seasonally adjusted because the seasonal component is small relative
to the trend-cycle and/or irregular components and consequently cannot be separated with
sufficient precision. Use the corresponding unadjusted series.
2. The hourly earnings index has been discontinued.
§ See note "§" for p. S-10.
<> Production and nonsupervisory workers.
$ Earnings in 1977 dollars reflect changes in purchasing power since 1977 by dividing by
Consumer Price Index. Effective Feb. 1990 SURVEY, this series has been revised back to
1985 to reflect new seasonal factors for the CPI-W. Revised data are available upon request.
§§ Wages as of Feb. 1, 1990: Common, $18.10; Skilled, $23.71.
t Excludes farm, household, and Federal workers.
$$ See note "$" for p. S-l 1.
S-34
SURVEY OF CURRENT BUSINESS
Page S-13
1. Beginning with Jan. 1988 data, the number of respondents in the bankers acceptance
survey was reduced from 155 to 111 institutions—those with $100 million or more in total
acceptances. The new reporting group accounts for over 90 percent of total acceptances
activity.
2. Effective December 31, 1987, eight brokers and dealers in commercial paper were
added to the reporting panel resulting in a series break. End of month figures on the old basis
are as follows: All issuers, 352,915; financial companies, 275,907; dealer placed, 103,667;
directly placed, 172,240; and nonfinancial companies, 77,008.
3. Average for Dec.
4. Pursuant to the 1987 Agricultural Credit Act, the FICBs merged with the FLBs on
July 6, 1988. Loans for the combined FLBs, FLBAs, FICBs, and PC As for the third and
fourth quarter 1988, and first quarter 1989, in millions are: $42,849, $41,438 and $40,337
respectively.
5. Effective Feb. 28, 1989, there was a break in the series due to the enlargement of the
panel of reporting dealers to 17 and of reporting direct issuers to 36. End of month figures on
the old basis are as follows: All issuers, 481,734; financial companies, 373,717; dealer placed,
172,330; directly placed, 201,387; and nonfinancial companies, 108,017.
t Effective Aug. 1988 SURVEY, free reserves have been restated to correspond with the
Federal Reserve's computation, which is as follows: excess reserves, minus borrowings, plus
extended credit. Historical data back to 1961 are available upon request.
$ Effective Oct. 1989 SURVEY, data have been revised from 1984 forward. Effective
Jan. 1988, series revised due to changes in the panel of reporting banks. The new reporting
panel of 168 banks accounts for about 52 percent of total assets in U.S. offices of domesticallychartered banks.
# Includes data for items not shown separately.
§ Excludes loans and federal funds transactions with domestic commercial banks and
includes valuation reserves (individual loan items are shown gross; i.e., before deduction of
valuation reserves).
# New series. Source: The Employment and Training Administration. Covers 50 States
and the District of Columbia. Only regular benefits are included.
@ Average weekly insured unemployment for 12-month period divided by average monthly
covered employment (lagging 4 full quarters for annual figure and 2 full quarters for monthly
figure).
** Effective Oct. 1989 SURVEY, loans by loan type are provided by the Federal Farm
Credit Banks Funding Corporation.
Page S-14
1. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the
months.
2. Weighted by number of loans.
3. Beginning Feb. 1988, data temporarily suspended by the Farm Credit Administration, which is revising the information it collects and amending the reports it distributes.
§ Effective Aug. 1989 SURVEY, data have been revised to reflect new benchmark adjustments. In addition, data for 1984 forward include a number of institutions excluded from
earlier data. Effective Apr. 1989 SURVEY, data have been revised to reflect new benchmark
and seasonal adjustments. These revisions are available upon request.
t Effective with May 1989 SURVEY, the consumer installment credit series have been
revised from 1986 through 1988 to reflect more complete data for most lender groups and
new seasonal factors. Effective Apr. 1988 SURVEY, the consumer installment credit series
have been revised back to Jan. 1980 to reflect newly available historical information and to
incorporate new seasonal factors. These revisions are available upon request.
# Includes data for items not shown separately.
O Excludes loans to commercial banks in the U.S.
t Rates on the commercial paper placed for firms whose bond rating is Aa or the equivalent.
$$ Courtesy of Metals Week.
@@ Average effective rate
@ Revised for periods between October 1986 and April 1987. During this interval, outstanding gold certificates were inadvertently in excess of the gold stock.
PageS-15
1. Beginning in the first quarter 1987, the universe of manufacturing corporations was
redefined to exclude corporations with less than $250,000 in assets at the time of sample
selection.
2. Beginning Jan. 1989, the primary public offering statistics have been discontinued by
the Securities and Exchange Commission.
t Effective Feb. 1990 SURVEY, the money stock measures and components have been
revised and are available from the Banking Section of the Division of Research and Statistics at the Federal Reserve Board, Washington, D.C. 20551.
$t Includes ATS and NOW balances at all depository institutions, credit union share
draft balances, and demand deposits at thrift institutions.
O Overnight (and continuing contract) RP's are those issued by commercial banks to
the nonbank public, and overnight Eurodollars are those issued by Caribbean branches of
member banks to U.S. nonbank customers.
@ Small time deposits are those issued in amounts of less than $100,000. Large time
deposits are those issued in amounts of $100,000 or more and are net of the holdings of
domestic banks, thrift institutions, the U.S. Government, money market mutual funds, and
foreign banks and official institutions.
# Includes data for items not shown separately.
§ Effective with the Mar. 1989 SURVEY, data have been revised back to 1986 and are
available upon request. Effective Apr. 1988 SURVEY, 1987 data have been revised. Revisions for
Jan. 1987: long-term, 7,486; short-term, 372.
Page S-16
1. The railroad average was discontinued by Moody's on July 13, 1989. Therefore, the
July average reflects only eight working days.
@ See note "4" for p. S-19 regarding the new commodity classification systems introduced Jan. 1989. Effective with the July 1989 SURVEY, seas. adj. data have been revised
back to Jan. 1987 and unadj. exports and imports back to Jan. 1988. Effective with the
June 1988 SURVEY, total exports and imports have been revised back to Jan. 1986. These
February 1990
revisions are available upon request. Data may not equal the sum of the geographic regions,
or commodity groups and principal commodities, because the revisions to the totals are not
reflected in the component items.
t Effective with the June 1988 SURVEY, seasonal adjustment of exports and imports
was reintroduced. The monthly data were last adjusted for December 1985. Historical data
from Jan. 1986 forward are available upon request.
§ Number of issues represents number currently used; the change in number does not
affect the continuity of the series.
$ For bonds due or callable in 10 years or more.
# Includes data for items not shown separately.
# Series added to the S-pages in May 1989.
Page S-17
1. Beginning with Jan. 1989 data, undocumented exports to Canada are now included,
resulting in a break with Dec. 1988 data.
2. Beginning Jan. 1989, buses are excluded from "Motor vehicles and parts" and included in
"Other manufactured goods," resulting in a break with Dec. 1988 data.
@ See note "@" for p. S-16.
t See note "t" for p. S-16.
# Includes data not shown separately.
O Data include undocumented exports to Canada, which are based on official Canadian
import totals.
# Series added to the S-pages in May 1989.
Page S-18
1. Reported annual total; quarterly or monthly revisions are not available.
2. For month shown.
3. Beginning Aug. 1989, the export and import indexes have been discontinued by the
Census Bureau.
# Includes data for items not shown separately.
§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled
service.
$ The threshold for Class I railroad status is adjusted annually by the Interstate Commerce Commission to compensate for inflation.
O Average daily rent per room occupied, not scheduled rates.
## Data represent entries to a national park for recreational use of the park, its services,
conveniences, and/or facilities.
t Before extraordinary and prior period items.
@ Changes in these unit value indexes may reflect changes in quality or product mix as
well as price changes.
ft Effective with the Dec. 1989 SURVEY, data for 1981-88 have been revised and are
available upon request.
Page S-19
1. Reported annual total; monthly or quarterly revisions are not available.
2. Less than 500 metric tons.
3. Figure suppressed because it did not meet Census publication standards.
4. Effective with the Apr. and May 1989 issues of the SURVEY, most foreign trade series
in the "S-Pages" have been converted to metric units. Also, beginning with 1989 data,
merchandise trade data are based upon two new commodity classification systems; the
International Harmonized System and, Revision 3 of the Standard International Trade
Classification and, as a result, data may not be directly comparable to 1988 and earlier
years.
5. Effective with the July 1989 SURVEY, data are shown in metric tons.
# Includes data for items not shown separately.
§ Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
t Effective with the Jan. 1990 SURVEY, revisions for 1987-88 are available upon request.
O Beginning January, 1986, data are not directly comparable to earlier periods because
the data represent only companies that have annual revenues over $100 million.
Page S-20
1. Reported annual total; monthly or quarterly revisions are not available.
2. Quarterly data are no longer available. See also note 4 for this page.
3. See note 4 for p. S-19.
4. Effective with the July 1989 SURVEY, data are shown in metric tons.
§ Data are not wholly comparable from year to year because of changes from one classification to another.
O As of the Nov. 1989 SURVEY, revisions are available upon request.
@ Includes less than 500 electric generation customers not shown separately.
t Effective with the Apr. 1989 SURVEY, revisions back to 1983 are available upon request.
$ Effective with the Jan. 1990 SURVEY, revisions for 1987-88 are available upon request.
$$ Effective with the Dec. 1989 SURVEY, revisions for 1987-88 are available upon request.
Page S-21
1. Previous year's crop. New crop is not reported until Sept. (crop year: Sept. 1-Aug. 31).
2. Crop estimate for the year. See also note 13 for this page.
3. Stocks as of June 1.
4. Stocks as of June 1 and represents previous year's crop; new crop not reported until
June (beginning of new crop year).
5. Crop estimate for 1989.
6. Stock estimates are available once a year as June 1 stocks and shown here in the May
column and (as previous year's crop) in the annual column. See also note 13 for this page.
7. Stocks as of Dec. 1.
8. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
9. Prices are no longer available.
February 1990
10. Based on quotations for fewer than 12 months.
11. See note 4 for p. S-19.
12. Series has been discontinued.
13. Effective with the May 1989 SURVEY, data have been converted to metric units.
§ Excludes pearl barley.
@ Quarterly data represent the 3-month periods Dec.-Feb., Mar.-May, June-Aug.,
and Sept. -Nov. Annual data represent Dec.-Nov.
t Coverage for 21 selected States, representing approximately 85 percent of U.S. production.
Page S-22
1. Monthly quotation not available.
2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
3. See note "t" for this page.
4. See note "t" for this page.
5. Series has been discontinued.
6. See note 4 for p. S-19.
$ Beginning with Sept. 1988 and annual 1988 data, price represents dollars per head and
is not comparable with earlier prices, which represent dollars per 100 pounds.
t Effective with the release of 1st Qtr. 1988 data, the import price index for coffee has
been discontinued by BLS and replaced in the SURVEY with the import price index for
coffee and coffee substitutes. The weighting structure used for the import price index reflects
U.S. foreign trade flows based on 1985 data. Indexes, beginning with 2nd Qtr. 1975, are
available upon request.
Page S-23
1. Crop estimate for the year.
2. Reported annual total; revisions not distributed to the months.
3. Data suppressed because they did not meet Census publication standards.
4. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
5. See note 4 for p. S-19.
6. Crop estimate for 1989.
# Totals include data for items not shown separately.
O Effective Nov. 1989 SURVEY, data have been revised for 1987 and 1988. Effective
Oct. 1988 SURVEY, data have been revised for 1986.
Page S-24
1. Reported annual total; monthly revisions are not available.
2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
3. Less than 500 tons.
4. See note 4 for p. S-19.
5. Effective with the July 1989 SURVEY, data have been converted to metric tons.
# New series from the American Metal Market. The composite scrap price represents
the average of consumers' buying prices, delivered, at the following markets: Chicago,
Pittsburgh, and Philadelphia. Annual and monthly composite price data are available back
to January 1982.
Page S-25
1. Reported annual total; monthly revisions are not available.
2. For month shown.
3. Effective with Jan. 1989, import data are for consumption; earlier periods of data are
general imports. See also note 4 for p. S-19 regarding the introduction of new classification
systems.
4. Prior to the July 1989 SURVEY, annual and monthly data for 1984-88 for aluminum
imports and exports were shown incorrectly in thousands of short tons. Beginning with the
July 1989 SURVEY, data for those periods have been converted to thousands of metric tons.
@ Beginning 1987, includes foreign ores.
§ Source: Metals Week.
Page S-26
1. Reported annual total; monthly revisions are not available.
2. Less than 50 tons.
3. See note 3 for p. S-25.
O Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap,
t Source for monthly data: American Bureau of Metal Statistics. Source for annual
data: Bureau of Mines.
# Includes data not shown separately.
# New series from The Material Handling Institute, Inc. and Cahners Economics. Includes
bookings (new orders) for automatic guided vehicles, automated storage and retrieval systems, below hook lifters, cranes, hoists, monorails, racks, shelving, casters and floor trucks,
and conveyors. Annual and quarterly historical data back to 1972 are available upon request.
@@ Beginning Oct. 1986, the Lead price represents North American Mean.
PageS-27
1. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
2. See note 4 for p. S-19.
3. Annual total includes revisions not distributed to the months.
# Includes data for items not shown separately.
§ Includes nonmarketable catalyst coke. See also note "ft"for this page.
O Includes small amounts of "other hydrocarbons and alcohol new supply (field
production)," not shown separately.
t Effective with the Oct. 1987, 1988, and 1989 issues of the SURVEY, coal production
data for 1986, 1987, and 1988, respectively, have been revised. Effective with the May 1988
S-35
SURVEY OF CURRENT BUSINESS
SURVEY, coal consumption and stocks back through 1986 have been revised. These revisions are
available upon request.
ft Effective with the June 1988 and Aug. 1989 issues of the SURVEY, data for 1987 and
1988 respectively, have been revised and are available upon request.
$$ March, June, September and December are five-week months. All others consist of
four weeks.
PageS-28
1. Reported annual total; revisions not allocated to the months.
2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
3. See note 4 for p. S-19.
# Includes data for items not shown separately.
t Except for price data, see note "ft" for P- S-27.
Page S-29
1. Reported annual total; revisions not allocated to the months.
2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
3. See note 4 for p. S-19.
O Source: American Paper Institute. Total U.S. estimated consumption by all newspaper
users.
# Compiled by the American Newspaper Publishers Association.
t Effective with the April 1988 SURVEY, the import price index for natural rubber has
been revised. The index is now expressed on a base of 1985= 100. Also new weights based on
1985 trade flows have been applied to all data from 1985 onward. Revised data are available
back to 4th qtr. 1983.
PageS-30
1. Reported annual total; revisions not allocated to the months.
2. Data are being withheld to avoid disclosing data from individual firms.
3. Data cover five weeks; other months, four weeks.
4. Beginning Jan. 1989, sales of industrial plasters are included with building plasters.
5. Jan. 1, 1990 estimate of the 1989 crop.
# Includes data for items not shown separately.
O Cumulative ginnings to the end of month indicated.
§ Bales of 480 Ibs.
t Data for 1987 and 1988 have been revised and are available upon request.
Page S-31
1. Less than 500 bales.
2. Annual total includes revisions not distributed to the months.
3. Average for crop year; Aug. 1-Jul. 31.
4. For five weeks; other months four weeks.
5. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
6. See note 4 for p. S-19.
O Based on 480-Ib. bales, preliminary price reflects sales as of the 15th; revised price
reflects total quantity purchased and dollars paid for the entire month (revised price includes
discounts and premiums).
# Beginning 1st Qtr. 1986; quarterly data are estimated by the American Textile
Manufacturers Institute based on annual data collected by the Bureau of Census.
§ Bales of 480 Ibs..
t Beginning 1st Qtr. 1987, data are not comparable with earlier periods. Girls apparel
are now included with women's, misses' and juniors' and boys' apparel are now included
with men's. Also, some classification changes were made.
Page S-32
1. Annual total includes revisions not distributed to the months.
2. Production of new vehicles (thous. of units) for Jan. 1990: passenger cars,353; trucks
and buses, 236.
3. Data are reported on an annual basis only.
4. See note 4 for p. S-19.
5. Beginning with January 1987, data include Honda, Nissan, and Toyota passenger cars
produced in U.S. plants.
6. Beginning with January 1987, data include Nissan trucks produced in U.S. plants.
7. Beginning with 1st qtr. 1987, jeans, jean-cut casual and dungarees are included with
trousers.
8. See note "t" for this page.
9. Effective with the July 1988 and 1989 issues of the SURVEY, data have been revised
back thru 1985 and 1986, respectively, and are available upon request.
10. Data for jumpers are included with dresses to avoid disclosing information for individual companies.
11. Beginning Jan. 1989, shipments of trailer bodies are included with trailer chassis to
avoid disclosure of data from individual firms.
# Total includes backlog for nonrelated products and services and basic research.
§ Domestics comprise all cars assembled in the U.S. and cars assembled in Canada and
imported to the U.S. under the provisions of the Automotive Products Trade Act of 1965.
Imports comprise all other cars.
O Courtesy of R.L. Polk & Co.; republication prohibited. Because data for some states
are not available, month-to-month comparisons are not strictly valid.
$ Excludes railroad-owned private refrigerator cars and private line cars.
t Effective with the Mar. 1988 SURVEY, retail inventories for trucks and buses have
been restated to exclude captive imports (vehicles manufactured overseas by U.S. affiliates). These data are available back through 1966.
$i See note"f" for page S-31.
S-36
SURVEY OF CURRENT BUSINESS
February 1990
Index to Current Business Statistics
Sections
Disposition of personal income .
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade
Labor force, employment, and earnings . . ,
Finance .
Foreign trade of the United States
Transportation and communication
..
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products
Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
Rubber and rubber products
Stone, day, and glass products
Textile products
Transportation equipment
..
1-5
5, 6
7,8
8,9
9-13
13-16
16-18
18,19
19, 20
20
20-23
23
23,24
24-27
27, 28
28, 29
29
30
30-32
32
32-35
Footnotes.
Individual Series
Advertising .
Agricultural loans
Air carrier operations
Air conditioners (room)
Aircraft and parts
Alcohol, denatured and ethyl
Alcoholic beverages
Aluminum
Apparel
Asphalt
Automobiles, etc
8,12
32
13
18
27
4, 5, 32
19
8,20
25
. 2, 4-6, 8-12,31, 32
28
2-4, 6, 8,9,14,15,17, 32
13,14
21
Banking
Barley
27
22
Battery shipments.
Beef and veal
8,17, 20
Blast furnaces, steel mills
Bonds, issued, prices, sales yields
Brass and bronze
Brick
Building and construction materials
Building costs
Building permits
Business incorporation (new), failures
Business sales and inventories
Butter
,
3-5
15,16
26
30
2,4,5
7
7
5
2,3
21
Carpets
31
Cattle and calves
22
Cement
30
Chain-store sales, firms with 11 or more stores
9
Cheese
21
Chemicals
2-4,10-12,15,17,19, 20
Cigarettes and cigars
23
Clay products
2-4, 30
Clothing (see apparel)
Coal
2, 27
Cocoa
22
Coffee
Coke
Combustion, atmosphere, heating equipment
Communication
Construction:
Contracts
Costs
Employment, unemployment, hours, earnings
Housing starts
New construction put in place
Consumer credit
Consumer goods output, index
Consumer Price Index
Copper and copper products
Corn
Cost of living (see Consumer Price Index)
Cotton, raw and manufactures
Credit, commercial bank, consumer
Crops
Crude oil
Currency in circulation
Dairy products
Debt, U.S. Government
Deflator, PCE
Department stores, sales, inventories
Deposits, bank
Dishwashers and disposers
22
27
26
15,19
7
7
10-12
7
7
14
1,2
5,6
25, 26
21
5, 6
5,30,31
14
5, 21-23,30
3, 27
15
5,21;
14
1
9»
13,15
27
Dividend payments.
Drugstores, sales..
Earnings, weekly and hourly
Eating and drinking places
Eggs and poultry
Electric power
Electrical machinery and equipment
Employee-hours, aggregate, and indexes
Employment and employment cost
Exports (see also individual commodities)
1
20
1,15
8,9
12
8, 9
5, 22
2, 20
2-5,10-12,15, 27
11
10-12
16-18
Failures, industrial and commercial
5
Farm prices
5, 6
Fats and oils
17
Federal Government finance
14
Federal Reserve System
13
Federal Reserve member banks
13
Fertilizers ..
19
Fish
22
Flooring, hardwood
24
Rour, wheat
22
Ruid power products
26
Food products
2-6, 8,10-12,15,17, 20-23
Foreign trade (see also individual commod.)
16-18
Freight cars (equipment)
32
Fruits and vegetables
5
Fuel oil
6, 28
Fuels
2, 6,17, 27, 28
Furnaces
27
Furniture
2, 6,8-12
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gypsum and products
Hardware stores
Heating equipment
Help-wanted advertising index .
Hides and skins
2,6,20
28
30
19
14
5,21, 22
9
30
26
12
22
Home loan banks, outstanding advances
Home mortgages
Hotels, motor hotels, and economy hotels
Hours, average weekly
Housefurnishings
Household appliances, radios, and television sets .
Housing starts and permits
Imports (see also individual commodities)
Income, personal
Income and employment tax receipts
Industrial production indexes:
By industry
By market grouping
Installment credit
Instruments and related products
Interest and money rates
Inventories, manufacturers' and trade
Inventory-sales ratios
Iron and steel
18
11
I, 4-6, 8, 9
27
7
17,18
1
14
1,2
1,2
14
2-4,10-12
14
3,4, 8,9
3
2,15, 24, 25
Labor force
9,10
Lamb and mutton
22
Lead
26
Leather and products
2, 6,10-12,23
Livestock.
5, 22
Loans, real estate, agricultural, bank (see also Consumer credit)
8,13
Lubricants
28
Lumber and products
2,6,10-12,23,24
Machine tools
26
Machinery
2-6,10-12,15,17,26, 27
Manufacturers' sales (or shipments), inventories, orders
3-5
Manufacturing employment, unemployment, production workers,
hours, earnings
10-12
Manufacturing production indexes
1,2
Meat animals and meats
5,22
Medical care
.6
Metals
2-6,10-12,15, 24-26
Milk
21
Mining
2,10-12
Mobile homes, shipments, installment credit
7,14
Monetary statistics
15
Money and interest rates
14
Money supply
15
Mortgage applications, loans, rates
8,13,14
Motor carriers
18
Motor vehicles....
2-4, 6, 8,9,15,17,32
National parks, visits
Newsprint
New York Stock Exchange, selected data
Nonferrous metals
Oats
Oils and fats
Orders, new and unfilled, manufacturers'
Outlays, U.S. Government
18
29
16
2, 4,5,15,25,26
21
17
4,5
14
Paint and paint materials
Paper and products and pulp
Parity ratio
Passenger cars
Passports issued
Personal consumption expenditures
Personal income
Personal outlays
Petroleum and products
Pig iron
Plastics and resin materials
Population
Pork
20
2-4, 6,10-12,15, 28, 29
5
2-4, 6, 8,9,15,17,32
18
1
1
1
2-4,10-12,15,17, 27,28
24
20
9
,
22
Poultry and eggs
5, 22
Price deflator, implicit (PCE)
1
Prices (see also individual commodities)
—
5,6
Printing and publishing
2,10-12
Private sector employment, hours, earnings
10-12
Producer Price Indexes (see also individual commodities)
6
Profits, corporate
15
Public utilities
1, 2, 7,15,16, 20
Pulp and pulpwood
28
Purchasing power of the dollar
6
Radio and television
Railroads
Ranges and microwave ovens .
Rayon and acetate.
8,27
13,16,18, 32.
27
8,13
14
Receipts, U.S. Government
27
Refrigerators
32
Registrations (new vehides)
Rent (housing)
..................................
6
Retail trade
............................
2, 3, 5, 8-12, 14, 32
Rice
..........................
................
21
Rubber and products (ind. plastics)
..............
2-4, 6, 10-12, 29
Saving, personal
............
....................
1
Savings deposits
...............................
.
13
Savings institutions
......................
..
.......
8, 14
Securities issued
................................
15
Security markets
......................
..........
15, 16
Services
..........
............................
6, 10-12
Sheep and lambs
................................
22
Shoes and other footwear
..........................
23
Silver
........................................
1.4
Spindle activity, cotton .
............................
31
Steel and steel manufactures
........................
24, 25
Stock market customer financing
......................
15
Stock prices, yields, sales, etc
........................
16
Stone, day, glass products . .
.................
2-4, 10-12, 15, 30
Sugar . . .
.....................................
23
Sulfur
.....
...................................
19
Sulfuric acid
....................................
19
Superphosphate
...................
.
.............
19
Synthetic textile products
...........................
31
Tea imports
....................................
23
Telephone carriers
...............................
19
Television and radio
............................
..
27
Textiles and products
....................
2-4, 10-12, 15, 30-32
Tin
...........................................
26
Tires and inner tubes
.............................
29
Tobacco and manufactures
......................
2-4, 10-12, 23
Tractors
......................................
27
Trade (retail and wholesale)
....................
2, 3, 5, 8-12, 32
Transit lines, urban
...............................
18
Transportation ......
............
, .......... 6, 10-12, 15, 16, 18
Transportation equipment
.................
2-6, 10-12, 15, 17, 32
Travel
........................................
18
Truck trailers
...................................
32
Trucks ....... .....
...........................
2, 32
Unemployment and insurance
........................
9, 10, 13
U.S. Government bonds
...........................
16
U.S. Government finance
.........
..................
15
Utilities
.................
' . ..
..............
2, 6, 7, 15, 16, 20
Vacuum cleaners
................................
27
Variety stores
.......
...............
. ........... .
9
Vegetables and fruits
..........................
----5
Wages and salaries
.............
................
.
1, 12
Washers and dryers
..........................
....
27
Water heaters
.............
...............
......
27
Wheat and wheatflour
.........
...................
21, 22
Wholesale trade
............................
2, 3, 5, 8, 10-12
Wood pulp
.....................................
28
Wool and wool manufactures
........................
31
'Tine
.......................................
....
26
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1990 Release Dates for BEA Estimates
Subject
Release
Date*
Subject
Release
Date*
State Personal Income, 1st quarter 1990
Gross National Product, 2d quarter 1990 (advance)
Personal Income and Outlays, June 1990
July
July
July
19
27
30
Composite Indexes of Leading, Coincident, and Lagging Indicators,
June 1990.
State Per Capita Personal Income, 1989 (revised)
Gross National Product, 2d quarter 1990 (preliminary)
Corporate Profits, 2d quarter 1990
Personal Income and Outlays, July 1990
Merchandise Trade (balance of payments basis), 2d quarter 1990
Composite Indexes of Leading, Coincident, and Lagging Indicators,
July 1990.
Aug.
1
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
22
24
24
27
28
29
19
Summary of International Transactions, 2d quarter 1990
Gross National Product, 2d quarter 1990 (final)
Corporate Profits, 2d quarter 1990 (revised)
Personal Income and Outlays, August 1990
Composite Indexes of Leading, Coincident, and Lagging Indicators,
August 1990.
Sept.
Sept.
Sept.
Sept.
Sept.
11
25
25
26
28
Apr.
Apr.
Apr.
27
27
30
State Personal Income, 2d quarter 1990
Gross National Product, 3d quarter 1990 (advance)
Personal Income and Outlays, September 1990
Oct.
Oct.
Oct.
23
30
31
Composite Indexes of Leading, Coincident, and Lagging Indicators,
March 1990.
Metropolitan Area Personal Income, 1988
Gross National Product, 1st quarter 1990 (preliminary)
Corporate Profits, 1st quarter 1990
Merchandise Trade (balance of payments basis), 1st quarter 1990
Personal Income and Outlays, April 1990.....
Composite Indexes of Leading, Coincident, and Lagging Indicators,
April 1990.
May
2
Nov.
May
May
May
May
May
May
3
24
24
25
25
30
Composite Indexes of Leading, Coincident, and Lagging Indicators,
September 1990.
Merchandise Trade (balance of payments basis), 3d quarter 1990
Gross National Product, 3d quarter 1990 (preliminary)
Corporate Profits, 3d quarter 1990.
Personal Income and Outlays, October 1990
Composite Indexes of Leading, Coincident, and Lagging Indicators,
October 1990.
Summary of International Transactions, 1st quarter 1990
Gross National Product, 1st quarter 1990 (final)
Corporate Profits, 1st quarter 1990 (revised)
Personal Income and Outlays, May 1990
Composite Indexes of Leading, Coincident, and Lagging Indicators,
May 1990.
June
June
June
June
June
12
21
21
22
27
State Personal Income, 3d quarter 1989
Gross National Product, 4th quarter 1989 (advance)
Personal Income and Outlays, December 1989
Composite Indexes of Leading, Coincident, and Lagging Indicators,
December 1989.
Jan.
Jan.
Jan.
Jan.
23
26
29
31
Merchandise Trade (balance of payments basis), 4th quarter 1989..... Feb.
Gross National Product, 4th quarter 1989 (preliminary)
Feb.
27
28
Personal Income and Outlays, January 1990
Composite Indexes of Leading, Coincident, and Lagging Indicators,
January 1990.
Summary of International Transactions, 4th quarter 1989
Gross National Product, 4th quarter 1989 (final)
Corporate Profits, 4th quarter 1989
Personal Income and Outlays, February 1990
Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
13
28
28
29
Composite Indexes of Leading, Coincident, and Lagging Indicators,
February 1990.
State Personal Income, 4th quarter 1989 and Per Capita Personal
Income, 1989 (preliminary).
Gross National Product, 1st quarter 1990 (advance)
Corporate Profits, 4th quarter 1989 (revised)
Personal Income and Outlays, March 1990
Apr.
3
Apr.
* These are target dates and are subject to revision.
Summary of International Transactions, 3d quarter 1990
Gross National Product, 3d quarter 1990 (final)
Corporate Profits, 3d quarter 1990 (revised)
Personal Income and Outlays, November 1990
Nov.
Nov.
Nov.
Nov.
Nov.
27
28
28
29
30
Dec.
Dec.
Dec.
Dec.
11
19
19
20
For information, call (202) 525-0777, Bureau of Economic Analysis, US.
Department of Commerce.
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