Full text of Survey of Current Business : January 1955
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JANUARY
U. S. DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
1955
SURVEY
OF CURRENT
BUSINESS
JANUARY
1955
D E P A R T M E N T OF COMMERCE
FIELD SERVICE
Albuquerque, N. Mex.
208 U. S. Courthouse
Los Angeles 15, Calif.
1031 S. Broadway
Atlanta 5, Ga,
50 Seventh St. NE.
Memphis 3, Tenn.
229 Federal Bldg,
Boston 9, Mass.
U.S. Post Office and
Courthouse Bldg.
Miami 32, Fla.
36 NE. First St.
Buffalo 3, N, Y.
UTEllicottSt.
L^ontenfo
PAGE
THE BUSINESS SITUATION....................
Industrial Production,,
The Labor Market
,
,,.
.....,,.,
National Income and Corporate Profits
*
*
1
3
4
*
Charleston 4, S. C.
Area 2,
Sergeant Jasper Bldg,
5
*
Cheyenne, Wyo,
307 Federal Office Bldg.
Chicago 6, III.
226 W. Jackson Blvd.
Cincinnati 2, Ohio
422 U. S. Post Office
and Courthouse
Cleveland 14, Ohio
1100 Chester Ave.
SPECIAL ARTICLES
Dallas 2, Tex.
1114 Commerce St.
Saving in the National Economy
From the National Income Perspective,.,
8
Denver 2, Colo.
142 New Customhouse
Detroit 26, Mich.
230 W. Fort St.
MONTHLY BUSINESS STATISTICS.. ..S-l to S-40
New or Revised Statistical Series.
Statistical Index
24
Inside back cover
Published by the U. S. Department of Commerce, SINCLAIR WEEKS,
Secretary. Office of Business Economics, M. JOSEPH MEEHAN, Director.
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520 SW. Morrison St.
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1479 Wells Ave,
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900 N. Lombardy St.
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1114 Market St.
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Chamber of Commerce
Bldg.
Salt Lake City 1, Utah
222 SW. Temple St..
Houston 2, Tex.
430 Lamar Ave,
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555 Battery St.
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311 W. Monroe St.
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125-29 Bull St.
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911 Walnut St.
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909 First Ave,
For local telephone listing, consult section
devoted to U, S. Government
JANUARY 1955
By the Office of Business Economics
B,
Consumer Durable Goods Output
TOTAL
200
1953
150
100
50
\
i
i
i
i
I
i
i
i
i
i
200
BUSINESS improved in December. Production, sales
and income all rose, with the final month the best of the
year.
The advance estimates of retail sales indicate that December retail trade was a record for the month. Purchases of
holiday-associated items were up both from 1953 and, after
seasonal adjustment, from the earlier months of 1954. In
addition, the December total was boosted by a large volume
of new car sales. The movement to buyers of approximately
570,000 new passenger cars during the month nearly equaled
output and kept dealers' stocks at the year-end at a relatively
low figure.
The expansion of buying was reflected in purchases from
wholesalers. Wholesale business in November aggregated
$9.3 billion, the best in over a year, on a seasonally adjusted
basis. Demand for nondurable goods from wholesalers was
especially strong.
Manufacturing activity up
Manufacturers 7 seasonally adjusted sales have advanced in
reflection of improved consumer buying and the lessening of
inventory liquidation. Most of the recent rise was concentrated in the durable goods sectors with pronounced
increases in the motor vehicle industry.
New orders placed with manufacturers in November were
at the highest seasonally adjusted rate of 1954. It is of
interest to consider the orders trend in industries other
than transportation equipment including motor vehicles,
since the pattern in that industry has been dominated by
orders for military goods and by the unusual timing of
automobile sales. Outside that industry group, as depicted
in the chart on the next page, new orders in recent months—
chiefly for civilian goods—have been higher than earlier in
the year. The increase has been especially pronounced
for primary and fabricated metals, and to a lesser extent, for
machinery. Only in the primary metals group, however,
have the new orders exceeded sales and increased the unfilled order backlog:.
ALL OTHER |-
200
1953
!50
too
1954
50
Inventory liquidation tapers
l
.
J
I l I
F M A M J J A S O
SEASONALLY ADJUSTED
O.B.E. ESTIMATES
N
O
DATA: F.R.B.
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
55-1-3
325978°—55-
A feature of November developments was a small increase
in the seasonally adjusted aggregate book value of manufacturing and trade inventories. This is in contrast to
the steady liquidation which had been going on in over a
year, and has been important in the revival in manufacturing.
The most pronounced inventory change in November occurred among automobiles producers and dealers. Seasonally
SUEVEY OF CURKENT BUSINESS
adjusted stocks held in most other lines showed mainly
small and divergent movements during October and November.
The change in the inveDtory component plus the rise in
consumption lifted the gross national product in the final
quarter of the year substantially above the level of the
first three quarters.
Construction maintained
Expenditures for new commercial and residential construction continued as an outstanding area of business strength
through the year-end. Its 1954 volume substantially exceeded that of 1953 and was rising throughout the year.
January 19
Private residential building continued to accelerate on
seasonally adjusted basis in November and December. Tl
number of new nonfarm dwelling units started in Decemb
was at a seasonally adjusted annual rate of 1.5 million, tl
highest for any month since August 1950. For the year 19£
Manufacturers' Sales and New Orders
Primary and fabricated metals and
machinery groups
BILLIONS OF DOLLARS
10
Manufacturers' Sales and New Orders
SALES
Total excluding transportation equipment
BILLIONS OF DOLLARS
26
NEW ORDERS
24
SALES
22
1952
20
1953
1954
MONTHLY TOTALS, SEASONALLY ADJUSTED
IF. S, DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS '
NEW ORDERS
18
0 I ) M I I I I I 1I I I I I I I I 1 I I I I t I I I I I I I I I I I I
1952
1953
1954
MONTHLY TOTALS, SEASONALLY ADJUSTED
U. S. DEPARTMENT
OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
5
5_j
Outlays for new construction in December totaled $3
billion, down less than is usual from the autumn peak. On
a seaonally adjusted basis, this represented the highest
activity rate of the year. The 1954 total amounted to $37
billion, over 5 percent above 1953 with slightly higher construction costs accounting for perhaps 1 percent out of the
5 percent increase. Private projects accounted for all of
the expansion as public construction, totaling $11.4 billions,
was unchanged from 1953.
as a whole the number of privately owned nonfarm unit
begun was 1.2 million, up from 1.1 in 1953 and second onl;
to the 1.4 million dwellings started in 1950.
The December volume of private construction other thai
residential remained at the high rate established in Novembe
after a gradual rise from the beginning of the year. The 195total for this type of building exceeded 1953 expenditures lr
3 percent.
Plant and equipment outlays by business have shown ;
somewhat different trend from nonindustrial construction a
they continue to drift downward. This is reflected in th
business of many manufacturers and has had a very con
siderable dampening influence upon, for example, the machin<
tool industry. Machine tool orders in the latest 3 month
reported, are down a fifth from a year earlier, while shipment:
are off two-fifths. The unfilled order backlog is down to <
months shipments at the current low rate compared with $
months in early 1953 when this industry reached its postwa:
peak volume of output.
January 1955
SUEVEY OF CURKENT BUSINESS
Industrial Production
INDUSTRIAL PRODUCTION showed a marked advance during
the last three months of 1954. The improvement from the
third to the fourth quarter of 1954 was most pronounced in
the durable-goods industries. The substantial pickup in
motor vehicle assemblies which began in the middle of
October together with the associated stimulus to activity in
steel and other related industries contributed importantly to
the rise in total output.
Completions of cars and trucks increased from a low of
288,000 in October to 600,000 in November and 730,000
in December. The steel industry which supplies approximately one-fifth of its finished steel output to motor vehicle
producers, and has also benefitted from elimination of inventory liquidation in a number of consuming industries,
expanded its operations from a July-August average of 63
percent of rated capacity in place on January 1, 1954, to an
average of 79 percenfcm December.
From October to November, when most of the recent advance occurred, the rise in output in these two basic industries accounted for nearly three-fourths of the rise in the
index of total industrial production and for all but a small
part of the total advance in the durables segment.
Production increases in other segments of manufacturing
from the third to the fourth quarter were numerous but
generally moderate. However, construction materials, electrical equipment and some other industries showed important
gains. Minerals output remained unchanged as declines in
metal mining and stone and earth materials were offset by
rising activity at coal mines.
Some trends mixed
The recovery in electrical equipment from the relatively
low volume of the first half of 1954 largely reflects the substantial pickup in output of television and radio sets and
tubes which had turned down markedly in the closing months
of 1953. In contrast, activity in industries producing
nonelectrical machinery showed little change as divergent
movements canceled out.
Production gains were registered in industries producing
electronic computing machines, office and store machines,
tractors, and farm equipment. On the other hand, decreases
were noted for machine tools and many types of industrial
machinery, a reflection of the tapering off of capital outlays
for new plant and equipment and reduced military requirements.
The machine tool industry, a key segment in the machinery
group, operated at a generally declining rate throughout the
year with current backlogs equal to only three months work
at the present rate of shipments.
Production of aircraft was maintained at a high rate while
activity in plants producing railroad equipment was reduced
to the lowest point in the postwar years, though there has
been some improvement in new freight car buying by railroads in recent months.
With peak construction activity, output of building materials as a whole continued in large volume. A part of the
rise in output from the third to the fourth quarter, however,
resulted from the settlement of a labor-management dispute
in the lumber industry.
The increase in output of nondurable goods from the third
to the fourth quarter of last year was about half that in
durable manufactures. Fluctuations in this group are
usually much less than in hard goods because of the relatively
steady demand for such consumer items as food, beverages,
tobacco, shoes, newspapers and publications, and refined
petroleum products which together account for roughly
two-fifths of the total weight of the nondurable goods index.
Among tobacco products, cigarette consumption has
declined for the second consecutive year. Last year's consumption represented a decrease of around 5 percent from
1953 and close to 7 percent from the 1952 high.
The rate of operations in textiles and apparel and paper
and printing advanced in the fourth quarter. Improvement
in textiles and apparel was general; mills consumed more raw
cotton, production of synthetic fibers was up, and output of
men's and women's clothing showed a more than seasonal
rise.
Spurt in automobile sales
Recovery in the consumer durable goods industry was
sharp in November and December of 1954 after remaining
well below 1953 volume in the preceding ten months. Virtually all of this recent increase was attributable to the
expansion in passenger car assemblies as output of all other
consumer durables showed little change.
The wide swings in passenger car assemblies in the last half
were influenced to a considerable extent by the changed
timing of the model change-over season. The passenger car
curve on the chart on page 1 in recent months is much affected
by the shift. In September and October 1954, the peak period
of the changeover, large scale plant shutdowns reduced assemblies to an exceptionally low volume. At the same time,
retail sales were being maintained at a relatively high rate
with the result that inventories of unsold cars were rapidly
reduced. In November and December, consumer purchases
of the new 1955 model cars were running considerably above
year ago levels but some buildup of dealers stocks was
possible. At the end of December, however, the number of
new cars held by dealers was low for this time of year.
Passenger car output in 1954 totaled 5.5 million units, a
decline of 10 percent from 1953.
Other consumer durables steady
Production of major consumer durable goods other than
autos was cut back sharply in the last half of 1953. While
output held at the reduced rate through the early months of
1954, sales continued at a higher level with a resultant reduction in overall stocks of consumer durables held by manufacturers and distributors. Production began to rise in the
second quarter, continued steadily upward through September, and then leveled off in the remaining months of the year
at a rate 10 percent above the October-December volume of
SURVEY OF CURRENT BUSINESS
1953. For 1954 as a whole output was 8 percent under the
1953 volume.
Aggregate dollar purchases by consumers of furniture
appliances, and other consumer durable goods were maintained approximately at the 1953 rate and on the average
showed little change from quarter to quarter. The physical
volume of consumption, however, was actually somewhat
higher than in 1953 as a moderate decrease in retail prices of
these lines occurred during the year.
The production pattern for the major product groups
which comprise the "all other" consumer durables index depicted in the chart was by no means uniform. This is shown
in the accompanying table which gives the movements for
the 5 past quarters. For most product lines, however, output
in October-November was slightly above the third quarter of
1954 and with one exception moderately above the final
three months of 1953. The relatively large decline in output
of refrigeration appliances partly reflects some slowing down
in refrigerators but more importantly a steep cut in the production of air conditioning room units following an expansion
of considerable proportions earlier in the year.
The year-to-year changes for individual products composing the group indexes were also marked by diverse trends
with almost as many lines showing increases as decreases.
Output gains predominated in the relatively new product
lines—those introduced commercially on a large scale in the
postwar years—ranging from 3 percent for television sets
to 20 percent for dryers; the reverse was true among the
older established products with the decreases varying from 5
percent for vacuum cleaners to nearly 20 percent for radios.
Television output up
The television industry in turning out about 7.4 million
sets had a good year, better than 1953, and approximating the
banner output performance of 1950. A sharp upsurge in
demand beginning in September which continued into the
January 1955
closing months of the year combined with a favorable salesinventory ratio pushed output of television receivers to a
new peak of around 900,000 sets per month in the SeptemberDecember period. This high rate exceeded the previous four
months peak period of 1950 by a substantial margin.
Table 1.—Production Indexes of Major Consumer Durable Goods
Other Than Autos
[Seasonally adjusted—1947-49=100]
P e r c e n t change
O c t . - N o v . 1954
average from—
1954
1953
Product
IV
I
II
III
Oct.-Nov. 4th Qtr.
average
1953
3d Qtr.
1954
105
102
108
113
117
11.4
Household furniture
Floor coverings
Ranges
Refrigeration appliances
Laundry appliances
108
88
71
104
133
103
87
80
121
138
101
82
80
137
124
109
97
79
126
150
112
90
80
113
n. a.
3. 7
2.8
!?
8.7
n. a.
"1:1
-10.3
Heating apparatus
Radio sets
_ _..
_ . Television sets
Auto parts and tires . _ _
Miscellaneous home and personal gifts
83
63
413
88
90
49
334
89
106
44
520
92
98
50
675
90
n. a.
68
645
97
n. a.
7.9
56.2
10.2
n. a.
36.0
-4.4
7.8
109
101
96
98
100
o o
q
— O.
2.0
Total
3.5
n. a.
Source: Board of Governors of the Federal Reserve System.
For radios, on the other hand, the sales-inventory position
was less favorable. Output fell from 13.4 million to 10.2
million sets, with both home and auto type models sharing
almost equally in the decline.
Of major importance for future developments was the
introduction on a commercial basis during the year of color
television sets and color telecasting. Because of technological problems, however, output was limited; only 25,000
receivers were assembled.
The Labor Market
EMPLOYMENT of wage and salary workers in nonagricultural
jobs has risen, on a seasonally adjusted basis, from 47.9
million at its August low point to 48.3 million in December.
The expansion over this period occurred mainly in manufacturing and in State and local government employment.
December employment in private nonmanufacturing industries as a whole was higher than in August but the increase was not quite up to the usual seasonal amount.
Changes in the individual industry divisions after seasonal
adjustment were small and divergent in direction.
Manufacturing employment, seasonally adjusted, was up
by 300,000 over this period, or 2 percent, with the transportation equipment industry, dominated by the pattern of motor
vehicle production, accounting for about half of the gain.
The remainder occurred largely in the lumber and wood
products and rubber industries, which had been affected by
major strikes in August. The expansion of employment in
rubber was also influenced by the rise in auto output. In
other major manufacturing industries, both durable and
nondurable, changes in employment from August to December closely approximated the usual seasonal amounts.
Employment in nonagricultural establishments in December remained below a year ago, with the decrease concentrated largely in manufacturing, mining, and the railroads.
Employment in other private industries differed but little
from December 1953.
In the government sector, Federal employment was little
changed over the year while employment in State and local
government was up by more than 200,000, with both school
and nonschool employment higher.
Hours of work
Hours of work in both durable goods and nondurable goods
manufacturing industries have slightly bettered usual
seasonal changes since last summer. The pickup in manufacturing hours had preceded that in seasonally adjusted
employment as the decline in the average length of the work
SUEVEY OF CURRENT BUSINESS
January 1955
week ended last spring. By November and December,
average hours in manufacturing were over 40 per week for
the first time in 1954. In most manufacturing groups
average working hours at the year's end were equal to or
exceeded the comparable period of the previous year. Sharp
gains exceeding an hour and a half were made in the automobile, textile, and rubber industries.
The only general measure of average weekly hours for all
persons employed in nonagricultural industries is average
hours as reported by the Current Population Survey. For
1954 as a whole, after adjustment for holidays during 3
survey weeks, the work week averaged about 0.7 hour under
1953. The average reduction in manufacturing and mining
was larger than in other parts of the economy.
The expansion of employment in recent months sufficed to
bring unemployment under 3 million, or about 4% percent of
the labor force, during the last quarter of 1954. Within this
period the usual late-fall increase did not occur last year.
The number of unemployed remained substantially above
corresponding months of 1953, however.
Certain characteristics of the unemployed group are of
interest. The unemployed in December included about 1.5
million men between the ages of 20 and 64, 600,000 less
than in March 1954. Over the same period total unemployment was cut from 3.7 million to 2.9 million, so that the
proportion of men in these age groups among the unemployed
declined.
The number of workers who had been without jobs lor 15
weeks or more was reduced to 700,000 by December from about
1 million in the spring. It should also be noted that the
number of involuntary part-time workers (for economic
reasons) has been falling since midsummer.
Unemployment compensation
The downward trend of unemployment in recent months is
also reflected in the operation of the unemployment compensation programs. Unemployment compensation claims generally rise at the year's end, but the increase last year was
later and less than usual. Initial claims indicating new unemployment in covered industries increased from early
November through the end of December as construction,
lumbering, food processing and other seasonal industries
curtailed their operations. The increase, however, was less
than in 1953, when unemployment was rising and about the
same as in 1952 when unemployment was low.
Insured unempk^ment—persons receiving unemployment
compensation or on waiting periods—contracted from 2.4
million at the seasonal high last spring to 1.6 million in October. After that time the number expanded, as is usual.
The increase to 1.9 million at the end of December was much
smaller than in the same period of 1953 and about the same
as in 1952. The reduction in the number of beneficiaries
since last spring reflects not only recent employment gains
but also an unknown fraction of the 1.8 million persons who
exhausted their benefit rights in calendar 1954. Exhaustions
during 1954 were more than twice the number in 1953.
In 1954 unemployment compensation benefits under all
programs amounted to $2.3 billion, about $1.3 billion more
than in 1953. Average weekly benefits for total unemployment under State programs in November were only slightly
below the all-time high of $25.72 of the preceding month.
They represented about one-third of actual pay when working/
National Income and Corporate Profits
NATIONAL INCOME was at a seasonally adjusted annual rate
of $299 billion in the third quarter of last year—about the
same as in each of the earlier quarters of 1954. Its trend
thus reflected the general economic stability which characterized this period. After having declined from a peak of $308
billion in the second quarter of 1953 to just under $300
billion in the fourth, the rate in round numbers held within
$1 billion of this figure. The overall annual rate for the
first nine months of last year was 2 percent below that for
the full year 1953, and 3 percent above 1952.
From the second to the third quarter of 1954, changes in
the flow of income from individual industry divisions were
likewise generally small. The largest was in manufacturing,
where the annual rate dipped $1% billion with the unusually
sharp and early curtailment of auto output before the 1955
models went into production. In government, an expansion
of public education payrolls for the new school year was the
principal factor in a $500 million rise. Moderate declines
indicated for agriculture and mining were more than offset
by the gains recorded in most other divisions.
Table 2 shows recent shifts in the industrial structure of
the economy through the 1951-53 expansion and subsequent readjustment. The 1953-54 comparisons presented
here and in the accompanying chart reflect primarily the
major economic changes which began about mid-1953 and
had largely worked themselves out by the middle of 1954.
The pattern of change was not much affected by the minor
fluctuations from the second to the third quarter of last year.
The most striking of the changes after mid-1953 stemmed
from a broad reduction in durable-goods demand, as purchases of hard goods for military and civilian use were
reduced and business inventories were cut back simultaneously. As pointed out in the October issue of the
SURVEY, the principal industrial impact of these developments was on manufacturing, mining, and transportation.
The latest data, covering the year through September,
show 1954 annual rates of income flow to have been below
the 1953 year totals by 7 percent in manufacturing and in
mining and by 8 percent in transportation, involving a drop
of $8% billion in these three industries taken together.
SURVEY OF CUEEENT BUSINESS
6
ID contrast, the chart shows ID come gains ranging up to
around 6 percent from public utilities, finance and real estate,
construction and the service group. The active demand for
housing, new nonresidential construction, and associated
services was a major factor in these advances, which collectively served to offset about $2% billion of the gross decline
registered for manufacturing, mining, and transportation.
January 1955
1953. The quarterly movement during the first nine months
of last year was moderately downward, however, as small
advances in net rent and in income of nonfarm proprietors
during the first half were outweighed by the contraction in
farmers' income.
Corporate profits
Table 2.—National Income by Industrial Origin, 1951-54
[Billions of dollars]
1951
All industries, total
Agriculture, forestry, and fisheries
Mining
Contract construction
Manufacturing
Wholesale and retail trade
Finance, insurance, and real
estate
Transportation
Communications and public utilities
Services
Government and government
enterprises
Rest of the world
1952
1953
277.0 291.0 305. 0
1954— first 9
months seasonally adjusted at
annual rates
299. 1
Corporate profits in the third quarter are estimated for
national income purposes at a seasonally adjusted annual
rate of $34 billion. Profits so computed (i. e., excluding
inventory gains and losses) thus remained in the range
Percent Change in Income Originating
1953 to 1954 *
20 3
5. 6
13. 6
87 7
47. 9
18 7
5 3
14. 5
89 8
50 9
16 8
5. 5
15. 2
97 3
52. 4
16 9
5. 1
15. 5
90 4
52. 3
22 4
14 9
24 4
15. 6
26 4
16. 0
27. 5
14. 8
COMMUNICATIONS AND
PUBLIC UTILITIES
8 3
24. 8
9. 2
26. 6
10 2
28. 8
10 8
29 3
FINANCE, INSURANCE,
AND REAL ESTATE
30. 2
1. 5
34. 3
1. 5
34. 9
1. 5
34 9
1. 6
CONTRACT CONSTRUCTION
PERCENT CHANGE
-4
-2
O
+2
+8
Source: U. S. Department of Commerce, Office of Business Economics.
SERVICES
No marked change from 1953 appears in the data through
September of last year on income arising in government,
trade, and agriculture. Fourth-quarter developments may
alter the direction or relative extent of the small shifts shown
for these. Continuance of public payrolls at about their
third-quarter rate in October and November indicates a
slightly larger 1953-54 expansion in the total for government. In trade, preliminary sales data for the fourth quarter
suggest an improvement over 1953 which could easily cancel
the nine-month reduction shown. In agriculture, the
seasonally adjusted quarterly movement through September
was consistently downward, and partial data show this
trend to have continued into the fourth quarter.
Types of Income
Recent changes in wages and salaries, corporate profits,
and other types of income are shown in table 3.
Total compensation of employees, after having dipped
moderately from its third-quarter 1953 peak rate of $211%
billion, fluctuated narrowly around an average of $206%
billion during the first half of 1954. The third-quarter rate
was up slightly, and some further rise is now indicated for
the fourth quarter.
Private payrolls were stable during the first three quarters
of last year, minor reductions in manufacturing, transportation and mining being offset by increases in most other
industries. Public wages and salaries were similarly stable,
the largest change being the rise in school-system payrolls
mentioned above.
Proprietors7 and rental income through September was at
substantially the same average annual rate recorded for
AGRICULTURE, FORESTRY,
AND FISHERIES
WHOLESALE AND RETAIL TRADE
MANUFACTURING
TRANSPORTATION
I
I
I
*" First nine months of 1954, seasonally adjusted, at annual rotes
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
55-|-<>
between $33 billion and $35 billion for the fourth consecutive
quarter, after having declined sharply from a peak rate of
$41% billion reached early in 1953. The major part of this
reduction was absorbed by the profits tax liability component, and after-tax profits fell only about $2% billion during
the same period.
Third quarter book profits before tax, at $34 billion, and
profits after tax at $17% billion—both values including net
inventory gains—were substantially unchanged from their
first-half annual rates. Dividends were up fractionally to
an annual rate just under $10 billion. Dividend payments
SURVEY OF CURRENT BUSINESS
January 1955
have been maintained or expanded since mid-1953 even in
periods when profits were declining, with the result of helping
to stabilize total personal income during the business readjustment of 1953-54.
The interest component of national income continued to
rise through September of last year, although at a pace less
rapid than in 1953.
A special characteristic of these nine-month comparisons
should be noted. Profits in manufacturing through September of 1953 were not representative of that year as a
whole, since the fourth-quarter results were down sharply
in most lines. In view of the improvement of business in the
fourth quarter of last year, the totals for 1954 will presumably
compare more favorably with those for 1953 on a full-year
than on a nine-month basis.
Manufacturing profits down
In the first nine months of 1954, total profits before profits
taxes were down $5% billion from the same period of 1953.
Nearly $4 billion of the decline was in manufacturing—
$3 billion in durables, and $1 billion in nondurables—and
about half the remainder was in transportation. These and
other changes are shown in table 4. Their pattern, like
that of total income originating in the various industries,
reflects chiefly the selective nature of the business readjustment from mid-1953 through the first half of last year; it
was not much influenced by the further developments of the
third quarter.
Table 4.—Corporate Profits Before Tax, by Major Industries
[Billions of dollars, unadjusted for seasonal variation]
All industries, total.
1953
1951 1952 1953
I
II
III
IV
I
II
III
National income
277.0 291.0 305.0 305.9 308.2 306.2 299.9 298.9 299.6 298.8
180.4 195.4 209.1 206.2 210.0 211.4 208.8 206.4 206.6 207.2
Wages and salaries.
_. 170.9 185.0 198.0 195.3 198.9 200.3 197. 6 194.6 194.9 195.6
Supplements to wages and
salaries
9.5 10.4 11.1 10.9 11.1 11.1 11.2 11.8 11.7 11.6
49.9 49.9 49.0 50.3 48.9 47.8 49.1 49.4 49.0 48.5
Business and professional
Farm
Rental income of persons
24.8 25.7 26.2 26.5 26.3 26.1 25.9 25.6 25.9 25.9
16.0 14.2 12.2 13.4 12.1 11.1 12.3 13.0 12.2 11.6
9.1 10.0 10.6 10.5 10.5 10.6 10.8 10.8 10.9 10.9
Corporate profits and inventory
valuation adjustment
39.9 38.2 38.5 41.4 41.0 38.3 33.1 34.1 34.9 33.9
Corporate profits before tax
Corporate profits tax liability
Corporate profits after tax._
Inventory valuation adjustment
.
Net interest
41.2 37.2 39.4 42.4 41.9 40.9 32.5 34.5 34.5 34.2
22.5 20.0 21.1 22.7 22.5 21.9 17.4 17.0 17.0 16.8
18.7 17.2 18.3 19.7 19.5 19.0 15.1 17.5 17.5 17.4
-1.3
6.8
1.0 -1.0
7.4
8.4
-.9 -.9 -2.6
7.9
8.3
8.6
.6 —.4
8.9
9.0
.4 -.3
9.1
9.2
1. Includes noncorporate inventory valuation adjustment. Source: U. S. Department of
Commerce, Office of Business Economics.
In the first nine months of 1954, before-tax profits in
manufacturing as a whole were down about one-fifth from
a year earlier. In most of the durable goods industries,
declines ranged between one-fourth and one-third. Notable
exceptions were the stone, clay and glass group, in which
profits were off relatively much less, and transportation
equipment, other than autos, where advances in earnings of
major aircraft manufacturers held the group total approximately even with 1953. Among nondurables, textile group
profits totaled only about half as much as in the same period
of 1953, and a sharp drop was also recorded for apparel, but
the decreases in most other groups were on the order of 5-10
percent.
18.3
17.4
.7
9.5
5.3
4.3
9.5
5.4
4.1
.8
.4
1.4
1.0
.7
.9
.7
.9
.6
21.1 18.3
Manufacturing
15.2 18.0 14.0 13.5 11.0 10.4 10.0 12.3
Durable-goods industries
8.7 10.8 7.8 7.6 6. 3 6.1 5.7 7.5
Nondurable goods industries..- 6.5 7.2 6.2 5.9 4.7 4.3 4.3 4.7
.9
.6
1st
half
1.6
.8
2 2
2 6
2.8
1.3
1.3
1.6
1.5
1.8
1.7
1.9
__ _ 7.7
8.6
7.5
5.3
5.3
4.9
5.7
5.4
5.7
4.8
1.1
1.1
1.0
Source: U. S. Department of Commerce, Office of Business Economics.
1954
Compensation of employees.
Proprietors' and rental income *
18.9
19.5
2d
half
.7
All other industries.
Seasonally adjusted at annual rates
26.1 21.7
1st
half
1954
.6
Communications and public utilities
[Billions of dollars]
2d
half
.8
Transportation.. .
Table 3.—National Income, by Type, 1951-54
1st 2d
1st
1952 1953 1954 half
half half
27.4 31.6
Mining
1953
1952
1951
First 9 months
From the second to the third quarter of last year, total
profits in nondurable goods manufacturing were virtually
unchanged. The total for the durable groups declined
one-sixth. About half of this drop was in conformity with
past seasonal patterns, and much of the remainder seems
to be traceable to the unusual sharpness of the third-quarter
curtailment in auto production. The moving up of the
changeover period last year very likely shifted into the
fourth quarter some part of the year's profits which might
otherwise have been realized in the third.
Nonmanufacturing
industries
Declines from the first nine months of 1953 in transportation and trade profits have been associated with the
softening of demand for durable goods, and to some extent
also with increases in unit costs. Transportation profits
have been affected by reduced shipments of finished durables
and of basic materials used in the production of such products.
From the incomplete data available, profits in mining
seem to have been well maintained. Communications and
public utilities profits were about 10 percent higher in the
first nine months of last year than in the corresponding
period of 1953, both telephone and electric utility earnings
advancing with the growth of demand and expansion of
facilities.
Second-to-third quarter changes in the nonmanufacturing
industries were mixed, but apart from the usual seasonal
patterns the general tendency seems to have been upward in
most cases. However, mining profits in the third quarter
reflected narrower margins in petroleum extraction and the
effect of work stoppages in the nonferrous metals group.
by Edward F. Denison
Saving in the National Economy
From the National Income Perspective
JL HE Office of Business Economics has received frequent
requests for further explanation of the data relating to
personal saving which are presented in the national income
tables, and of their relationship to saving and investment as
a whole. This article is designed to meet this expressed
need and to point out some of the facts which these data
reveal.
For proper understanding it is first necessary to discuss
the meaning and measurement of total saving or investment
as well as of saving in the parts of the economy, and to show
how personal saving fits into this aggregate. This is done
in the first section of the article; consideration of the actual
data, except in an illustrative way, is confined to the later
sections.
In the second major part of the article the distribution of
saving and investment among the principal parts of the
economy over the past quarter century and changes in the
amount of total saving are examined, and their relation to
business fluctuations and expansion are discussed. In the
final section the personal saving data are analyzed separately with regard both to their composition and their
relationship to consumer markets.
Saving and investment
In national income and product statistics the total saving of the Nation in any period is the value of additions to
the Nation's capital stock. It is thus consistent with the
simple fact that whatever is produced in a period and is not
consumed is left over (saved) and added to the capital stock.
For the economy as a whole, saving and additions to the
capital stock (investment) are identical.
The capital stock implied by the measures of saving and
investment in the Office of Business Economics data consists of humanly produced durable capital goods owned by
private business firms and other private organizations, of
privately owned housing (inclusive of owner-occupied
dwellings) and of business inventories. It also includes the
monetary gold stock and net claims of United States residents on foreign countries, since these provide the ability
to secure goods and services from foreign countries in the
future.
However, it does not include governmentally owned
structures, roads, equipment and inventories, or consumer
goods (other than houses) owned by individuals. In a word,
in the measurement of saving and investment all goods
purchased by governmental units and (except for houses
and business property) by individuals are treated as though
they were consumed as soon as acquired.
NOTE.—MR. DENISON IS ASSISTANT DIRECTOR OF THE OFFICE OF
BUSINESS ECONOMICS.
A principal reason for restricting the definition of saving
and investment in this w^ay is the absence of information on
actual consumption by, and additions to the capital stock of,
Governments and individuals. However, since the motivations and consequences of business investment differ significantly from those of capital formation by Governments
and individuals, the measures of investment and saving
presented in the income and product statistics are highly
useful for economic analysis.
Saving and investment different processes
Although saving and investment for the economy as a
whole are identical for any past period, the processes of
saving and of investment are quite separate. Saving arises
from the receipt of current income in excess of current
expenditures. Investment, as used here, consists of purchasing or constructing buildings, machinery, houses, or other
durable capital assets, of adding to the inventory holdings
of a business, or of investing abroad.
The motives leading an individual or a firm to save are in
general quite different from those leading to investment even
though the desire to acquire assets included in the capital
stock may be one motive among several for saving. For any
single individual or firm, and indeed for any group smaller
than all the economic units within the economy, saving need
not be numerically equal to investment as defined, nor is it
likely to be. Governmental units by definition do not invest
in real assets included in the capital stock, but they do save
or dissave by operating with a surplus or deficit. Hence it
is quite possible, and indeed necessary, to study saving
patterns, behavior and motivations in the economy separately
from those for investment.
It should also be understood that not even for the economy
as a whole need all the plans of potential investors to invest
in a future period and all of the plans of potential savers
to save in the same future period be equal. When they are
not, unplanned saving and investment take place (the latter
most strikingly in the form of unplanned changes in inventories) ; and actual investment or saving, while equal to
one another, may differ substantially from the amounts
planned or expected at the beginning of the period by the
individuals, firms, and governmental units of the country.
The process by which divergent saving and investment plans
are reconciled ordinarily involves changes in aggregate/
output, income, and business sales. Plans of the economic
units of the country for the division of their incomes between
spending and saving, and with respect to the amount of their
investment, are principal forces governing economic fluctuations and economic growth.
January 1955
SURVEY OF CUREENT BUSINESS
9
inferred with respect to saving and investment plans from
the historical behavior of saving and investment when these
are studied in conjunction with changes in production,
income and prices.
It should be stressed that statistics for past periods can
measure only actual saving and investment; to measure
saving and investment plans or intentions requires a different
kind of information. Nevertheless, much can often be
I
The Meaning of saving Data
In 1953 the value of additions to the capital stock, as defined, amounted to $49.5 billion on a gross basis—that is to
say, this is the amount of actual investment, making no deduction for the using up of fixed capital assets. This figure
is the sum of the gross private domestic investment and net
foreign investment components of the gross national
product.
The NATIONAL INCOME supplement provides a broad
breakdown of the corresponding gross saving of the economy,1
which may be summarized as follows (in billions of dollars):
Capital consumption allowances
27. 2
Undistributed corporate earnings
7. 9
Personal saving
20. 0
Government surplus or deficit (—) on income and product
transactions
— 6. 6
Statistical discrepancy
1. 0
Total gross saving
49. 5
The "statistical discrepancy" line denotes only that there
is a numerical difference of $1 billion between gross saving
or investment arrived at as the sum of investment items and
as the sum of the components of saving. Since the source
of the discrepancy is not known, it is equally appropriate to
add it to saving, as is done here, or to subtract it from investment, which would yield a total of $48.5 billion.
Difficulty of measuring net investment
Deduction from gross investment or saving of capital consumption allowances on fixed business property and housing—consisting of depreciation charges, accidental damage
(from fire, storm, etc.) to fixed assets included in the capital
stock, and capital outlays charged by business to current expense—would yield an implied estimate of $22.3 billion as
the net investment or saving of the United States economy
in 1953. However, in presenting the national inconle and
product statistics the Office of Business Economics does not
feature or even compute such a measure of net capital formation or saving for the country as a whole because "book"
depreciation charges are not considered a satisfactory measure of the current value of capital consumption.
There are two main reasons for this. First, book depreciation on durable capital assets is valued in terms of prices at
the time the assets were built or acquired rather than of
prices in the period to which the depreciation estimates pertain, and hence is not comparable to the valuation of gross
new investment in the same period.2 Second, book depreci1. The reader will find it convenient to have at hand for reference the 1954 NATIONAL
INCOME supplement to the SURVEY OF CURRENT BUSINESS. That source also affords precise definitions of individual series for saving, investment, and related items. The saving
data cited above are summarized from Table 5 of the supplement. "Undistributed corporate earnings," in this and all other tabulations and references in this article, include the
corporate inventory valuation adjustment, and also the minor item (negative in 1953) "excess
of wage accruals over disbursements."
2. An exception may be noted for farm depreciation, which is valued in terms of current
prices.
2
Digitized325078°—55
for FRASER
ation is conventionally distributed over the life of depreciable
assets in accordance with the straight-line formula or, occasionally, some other formula, because information required
to establish the actual timing of capital consumption is
lacking. Only sketchy information is available concerning
even the actual life spans of capital goods within which their
total cost is to be written off.
These points are discussed in the article, "Growth of
Business Capital Equipment, 1929-53," in last month's
SURVEY. That source also provides, for producers' durable
goods, adjustment factors to derive an alternative series of
depreciation estimates based on reproduction costs. But,
as is there pointed out, that type of measure too has important limitations for the measurement of net capital
formation, if what is desired is a measure of the increase in
the ability of the stock of durable capital goods to contribute
to future production. The price indexes utilized to adjust
the valuation of depreciation are subject to the very important limitation that they cannot take adequate account
of quality improvement; and, in addition, the timing problems remain.
Saving by major groups
In accordance with business practice, the depreciation
figures utilized by business are, nevertheless, accepted in the
national income statistics in reporting the income of corporate and noncorporate business firms. In addition, a depreciation estimate for individually owned housing and other
property is computed by a comparable procedure in order to
derive estimates of the rental income of persons. As a
result, since the saving of any group within the economy can
be computed by deducting from income its current expenditures together with other current charges, a breakdown of the
implied net saving figure among the major groups in the
economy emerges from the statistics, as shown in the table
just presented.
This does not, obviously, mean that net saving figures for
the economy are more meaningful from the standpoint of
measuring changes in its production potential than would be
similar estimates for net investment, since they are the same
thing. However, the division based upon accounting records
of gross income between capital consumption allowances and
net income, and of gross saving between capital consumption
allowances and net saving, is of interest from another standpoint—that of analyzing the sources of investment funds.
To the extent that business decisions are based upon profits
computed by use of book depreciation, such data are also
relevant to consideration of business decisions with respect
to investment, dividend, and other policies, as well as to tax
determinations.
For many purposes gross saving estimates may be preferred, however, even though gross saying and investment are
themselves not without a range of ambiguity since the dividing
SURVEY OF CUEEENT BUSINESS
10
line between new fixed capital investment, on the one hand,
and current expenditures for maintenance and repair, on the
other, is not a precise one.
Data which permit gross saving, too, to be broken down
among corporations, governmental units, and persons and
noncorporate business combined are available. The resulting
data for 1953 are as follows (in billions of dollars):
Sector
Corporations
Persons and noncorporate business. _
Government
Statistical discrepancy.
Total
Gross
saving
Capital
consumption
allowances
7. 9
21. 7
33. 4
-6.6
13.4
20. 0
-6. 6
1. 0
1. 0
49.5
Net
saving
27.2
22.3
Derivation of this breakdown requires that capital consumption allowances be added back to the net saving figures
for the two private groups. Capital consumption allowances
on property owned by persons and noncorporate business
can be obtained from the NATIONAL INCOME supplement;
subtraction of this item from total capital consumption allowances provides an estimate for corporations.3 No
entry for Government property is required since such property is not counted in gross capital formation.
Total saving and personal saving
In an ultimate sense, of course, all saving may be viewed
as being made by or in behalf of individuals and for their
benefit, and in this sense individual saving can be considered
to be the same as the saving of the economy as a whole.
However, the considerations determining the volume of
saving or dissaving by Governments or corporations in any
time period may differ sufficiently from those controlling the
saving of individuals, as well as from one another, to make
a breakdown necessary for analysis of factors which determine the amount of saving. The breakdown has also a great
influence on changes in the amount and type of personal
assets and liabilities, as well as those of corporations and
Government.
It will be noted that whereas the term "personal saving"
was used in the previous table, in which personal saving was
confined to net saving, the transition to a gross saving basis,
which involves adding back depreciation on noncorporate
business property as well as on individually owned housing,
makes it necessary to refer to "persons and noncorporate
business."
Actually, both the gross and net saving estimates comprise
all private noncorporate saving. However, in the national
income statistics the net income of unincorporated business
enterprises is considered to be received directly by their
owners, and is therefore included in personal income. This
means that, formally, unincorporated enterprises as such can
have no net saving—just as corporate saving would be zero
if the dividend payments of corporations were always equal
to their net earnings. Hence, all net saving by proprietors of
unincorporated firms is personal saving.
It has sometimes been suggested that the saving of proprietors of unincorporated business should be divided between
"personal" and "business" saving. Actually there is available no suitable alternative to the convention followed, since
3. Noncorporate capital consumption is the sum of the "depreciation" lines (18, 24, and
31) in table 6 of the Supplement. Total capital consumption allowances are shown in table 4.
The procedure described, utilized to avoid going beyond data presented in the Supplement,
January 1955
most proprietors of unincorporated businesses do not distinguish between their saving in a business and personal capacity nor have they occasion to do so.4 Depreciation
charges, on the other hand, ordinarily are computed by non^
corporate firms, and national income statistics recognize them
as a business deduction in the computation of net income.
Measurement of saving by groups
While the definition of the total saving of the economy is
established by the definition of the capital stock, the division
of saving shown in the table requires certain additional decisions. To make clear their character and importance requires a brief statement of the ways in which saving is or can
be derived for the parts of the economy.
In the national income data, the saving of each of the domestic sectors is equal to its current income less current expenditures which are treated as consumption (i. e., personal
consumption expenditures and Government purchases of
goods and services) and less its transfers of income to other
sectors. This is so with respect both to the definition of
saving and its statistical measurement.
The reason that the total of saving obtained in this way
must equal total investment requires explanation, and the
following perhaps most closely follows the definition just
given. Explanation is facilitated if the term "transfers" is
construed broadly for a moment, and thought of as consisting of two types.
The first type—the only one relevant to the preceding
definition—consists of transfers of the income of one sector
of the economy to another sector. This group comprises
personal tax and nontax payments to Government, corporate
profits tax liability, transfer payments and interest paid by
Government, Government subsidies to business (less the
current surplus of Government enterprises), and corporate
dividend payments. These payments necessarily appear
both as income to the recipient and as a transfer from the
income of the payer. Hence, in a sense they introduce
duplication of income if the incomes of the three sectors are
added up, but—inasmuch as transfers of income are deducted
in arriving at the saving of the payer—they do not affect the
total of saving if the saving of the three groups, derived by
the method stated above, is combined.
The second group of transactions which may perhaps be
thought of as "transfers" includes indirect business tax and
nontax liability, contributions for social insurance, and
business transfer payments to the personal sector (such as
corporate gifts to nonprofit organizations). These must
be distinguished from the first type because they are deducted
before the income of the payer is computed, and hence their
inclusion in the income of the recipient does not introduce
duplication in the combined income of the three parts of
the economy—nor, of course, in the saving total. Since
they do not involve payments from the income, as measured,
of any group, they are not relevant to the definition provided
above.
The key fact in the explanation sought for the identity of
aggregate saving and investment is this. If the incomes of
persons, corporations, and Government are added, and the
transfers of income from one sector to another—the first type
of transfer—are deducted as is done in the derivation of
saving, the result is identical with the net national product
4. Such a distinction is somewhat more meaningful for partnerships, particularly the larger
firms, since there is a group decision as to the amount of the firm's income which is to be retained in the business and the amount to be distributed to partners. This may be distinguished from the decisions of the partners as individuals with respect to the amounts of their
income which they will spend and save. There is a similar difference between the power of
control over individual and partnership assets. However, data indicating the amount of
partnership income actually distributed to firm members are not available.
January 1955
SURVEY OF CURRENT BUSINESS
except, as discussed earlier, for the statistical discrepancy.
This is shown for 1953 by the following table. (The minor
item, "excess of wage accruals over disbursements/' must be
included in the income total since it in effect involves, when
positive, income which is omitted from both the income of
the employer and personal income. In 1953 it was negative
so that, actually, removal of a slight duplication is involved.)
Data are shown here in millions of dollars in order to facilitate
direct comparison with the statistics as reported in the
NATIONAL INCOME supplement.
420, 356
Total (duplicated) income of the sectors.
Personal income
286, 066
Corporate profits and inventory valuation
adjustment
38, 466
Government receipts
95, 900
Excess of wage accruals over disbursements
— 76
83, 772
Less: Transfers from income between sectors
Personal tax and nontax payments
Corporate profits tax liability
Government transfer payments
Net interest paid by Government
Subsidies minus current surplus of Government
enterprises
Dividends
35, 967
21, 144
12, 785
5, 040
— 529
9, 365
Plus: Statistical discrepancy in national accountsEquals : Net national product
1,047
337, 631
The net national product represents the sum of expenditures treated as consumption and of (net) investment, while
the total income of the sectors less their transfers of income is
the sum of expenditures treated as consumption and of (net)
saving. Hence it is apparent from the identity of net national
product and total income less transfers that the procedure
followed to derive saving in each sector must yield a saving
total which is identical with that for investment.
The foregoing discussion has been, for convenience, in
terms of net saving and investment but it is apparent that
the measurement of income, saving, and investment before
deduction of capital consumption allowances would lead to
the same conclusion with respect to the identity of the
measures of gross saving and investment.
Measurement from assets and liabilities
Saving in each group might also be measured in another
way, which it is useful to spell out since it further explains the
meaning of the data. This would be to sum the values of (1)
additions to the real domestic assets owned by the sector
which are included in the capital stock; (2) increases in debts
due from the other sectors (including cash and deposits,
considered in this formulation as debts of Government or
the banks) less increases in debt to the other sectors; (3)
transfers of equity funds to other sectors less transfers of
equity funds from other sectors; and (4) purchases of land
and used durable capital assets from other sectors less sales
of such assets to other sectors (in order to offset changes in
financial assets and liabilities arising from such transactions).
This method is presently followed in the national income
statistics only to derive an alternative estimate of personal
saving (which is discussed later) but it is hoped that a comprehensive set of estimates of this type can be developed in
the future.
It is clear that, if this method is to give the correct saving
total for the economy as a whole as previously established
11
by the definition of changes in the capital stock, components
(2), (3), and (4) must wholly cancel out among the sectors
with the sole exception that changes in the monetary gold
stock, the increase in net claims on foreign countries, and the
net outflow of equity capital abroad, will be left over. In
other words, the sum of item 1 for all the sectors must equal
domestic capital formation and the sum of items 2, 3, and 4
for all the sectors must equal net foreign investment.
Timing problems
If the sum of the saving estimates for each of the three
groups in the economy, measured as income less consumption
and transfers of income to other groups, is to equal the total
saving of the economy as established by the definition of
additions to the capital stock, it is necessary that every
current transaction be entered on the same date as a receipt
for the recipient and an expenditure by the payer. Similarly,
if the asset-liability approach is followed, it is obvious that
every loan transaction must appear as a debt on the books of
the borrower and an asset on the books of the creditor on the
same date, and that the timing of transfers of equity funds
must be similarly consistent on the books of both parties to
the transaction. Finally, if the same saving total is to be
derived for each of the sectors by this method as by the
income-expenditures method, the timing of these changes in
assets and liabilities must be consistent with the timing of
related income and expenditure transactions.
Actual accounts kept do not always coincide in these ways,
and when they do not they must be made consistent in the
national income statistics. Obviously, there is a choice as to
which records to adjust, and the choice made affects the
saving estimate in a given period for each sector involved—
although not, of course, for the economy as a whole.
The corporate income tax is an important example of such
inconsistency in reporting as between payer and recipient.
In computing their net income after tax for a year, corporations ordinarily deduct their liability for corporate income
tax on that year's earnings, w^hereas the Federal budget
shows as a receipt actual tax collections, based on prior year
earnings, which may be quite different. The Office of
Business Economics, in compiling the series for Government
receipts which enter into the derivation of the "surplus on
income and product account", substitutes for tax collections
the tax liability as carried in the corporate accounts.
If saving estimates were derived by the alternative method
of computing changes in assets and liabilities, it would be
necessary, in order to arrive at the corporate and Government saving totals provided in the national income statistics,
to consider a change in the value of such taxes accrued but
unpaid as a change in the debt of corporations to Government.5
If the alternative of making the corporate accounts consistent with those of Governments by counting such taxes on
a payments basis were followed, corporate saving and the
Government deficit would each be nearly $1 billion smaller
in 1953. In many years the difference would be in the
opposite direction.
A similar adjustment of reported Government receipts is
required for indirect business taxes and payroll taxes, which
are also treated on an accrual basis. In addition, because
business firms act as an intermediary in the collection of
withholding taxes, there is a lag ranging up to several months
(and varying from time to time) between the date such taxes
are actually paid by the employee and that on which they
are received by governmental units. This lag also requires
5 This is done for corporations in Office of Business Economics data on "Sources and Uses
of Corporate Funds". The line "Federal income tax liabilities" in the table on page 5 of
SURVEY OF CURRENT BUSINESS, September 1954, provides such data for nonfinancial corporations for the years 1946 to 1953.
SURVEY OF CURRENT BUSINESS
12
adjustment of Government receipts to achieve6 consistenc}^
with the accounts for the individual tax payer.
A somewhat different example concerns credit sales. These
are considered to involve a receipt to the seller and an expenditure by the buyer at the time the sale is made, not at the
time payment is made. If, as has sometimes been suggested,
the alternative procedure of counting actual outlays by the
purchaser rather than purchases were to be followed, personal saving in 1953 would be nearly $3 billion larger and
corporate saving nearly $3 billion smaller with respect to
Table 1.—Illustrative Table of the Balance of Saving and Investment in 1953
o
o
c3
1
O
o
Net saving
G
w
Capital consumption
allowances
CD
Net investment
o
Capital consumption
allowances
[Billions of dollars]
Corporations
27. 1 13. 8 13. 3 21. 7 13. 8
Persons and noncorporate
business
24. 3 13. 4 10. 9 33.4 13. 4 20. 0
Government
Rest of the world
— 6. 6
— 1. 9
Statistical discrepancy
Total for the economy
Investment by sectors
03
CQ
9. 1
—6 6 —66
1. 9
1. 0
1. 0
49.5 27.2 22.3 49.5 27.2 22.3
0
1. 0
Source: U. S. Department of Commerce, Office of Business Economics.
consumer goods7 (other than houses) purchased from corporations, alone.
As these examples may suggest, the approach in determining the timing to be followed in recording current transactions
involving business enterprises has generally been to accept
business practice, and to construct accounts in which transactions of business with governments and individuals conform
to that practice.
Classification of borderline cases
The division of saving among corporations, Government,
and persons and noncorporate business also requires decisions as to where certain borderline cases are to be classified.
Thus the current surplus of go vernmen tally-opera ted social
insurance funds is counted as Government saving, although
it is sometimes suggested that it be counted as personal
saving. These funds receive employer and/or employee
contributions together with income from investments and
disburse mainly old age, survivors, sickness, death, and
unemployment benefits to covered persons and their beneficiaries. The alternative of classifying the surplus of their
receipts over their expenditures as personal saving would
raise personal saving and lower Government saving (increase
the deficit of Governments) by $3.5 billion in 1953. Table
10 of the NATIONAL INCOME supplement provides data which
permit this adjustment to be made for other years if desired.
The surplus of Government enterprises is also included with
Government (rather than corporate) saving.
6 Personal income taxes are dated in the national accounts at the time they are paid by
individuals (or withheld from their earnings)—not, like corporate taxes, on the basis of
liability computed against current income.
7 See line 13, "Increase in debt not elsewhere classified", measuring changes in consumer
debts to corporate business, in table 6 of the NATIONAL INCOME supplement.
Corporate saving covers all private corporations organized
for profit. Thus this group encompasses family-controlled
firms for which the division between saving by the firm and
saving by the family may be little more meaningful than in
the case of proprietorships, since the same individual is
making the saving and spending decisions for both, and he
may be able fairly readily to transfer assets between corporation and family holdings. On the other hand, saving
by organizations not organized for profit, including mutual
financial institutions, is included with personal rather than
corporate saving, even though in certain decisions controlling
saving—such as that of a saving and loan association to add
to its reserves rather than increase its dividend rate—the
ability of the individual shareholder to influence the decision
may be no greater than that of the individual small stockholder to influence the dividend policy of a large corporation.
Such borderline cases, which are present in any classification,
should be kept in mind in interpreting the saving data for
the separate groups.
£
7. 9 — 5. 4
-1. 9
January 1955
The national income tables permit a breakdown of investment which parallels that for saving. The NATIONAL
INCOME supplement furnishes an estimate of gross domestic
investment by persons and noncorporate business
in buildings, equipment, and business inventories.8 Deduction of
this amount from total gross domestic investment yields an
estimate of gross domestic investment by corporations.
Capital consumption allowances required to move to a
"net" investment figure are the same as in the case of saving
although, for the reasons stated earlier, such a computed
bookkeeping "net investment" figure is of little use in analysis. It is shown in the present context only in order to
indicate definitional relationships.
Since domestic investment in the national income statistics
is confined to private capital formation, there is no investment entry for Government. The remaining investment
entry, net foreign investment, measures the net change,
arising from current international transactions, in the international assets and liabilities held by the Nation as a whole.
Net foreign investment is not allocated among the domestic
sectors but is classified as investment in the "Rest of the
World."
The resulting investment figures are shown in the first
three columns of table 1, and aligned with those already
derived for saving.
Sector differences
in saving and investment
Estimates of this type permit a comparison of the saving
and investment, as defined, done by each of the major segments of the economy.
It is immediately apparent from the table that while saving
and investment are identical for the economy as a whole this
is not the case for the separate groups within the economy^
just as it obviously is not for a single individual, firm, or
governmental unit. The difference between saving and investment is shown for each group in the last column of the
table. These differences are, of course, the same on either a
gross or a net basis. For the economy as a whole they necessarily balance out to zero, provided the statistical discrepancy in the national accounts is included.
Effect of investment definition upon the data
The difference between saving and investment in each sector as shown in the final column of table 1 represents changes
in its financial assets and liabilities (plus net acquisitions of
8. The estimate is the sum of lines 15, 16, 20, 21, 26, 27, and 28 in table 6.
SURVEY OF CURRENT BUSINESS
January 1955
land)—that is to say, it is equivalent to the sum of components (2) through (4) of saving in the alternative saving
definition provided above. Consequently, while affected by
decisions adopted with respect to the classification of the
economy and the timing of transactions, these data are not
dependent upon any particular definition of domestic capital
formation; they would not be affected by broadening or narrowing the scope of the items included in the capital stock,
nor by changes in the method of valuing capital consumption
or the change in business inventories, so long as changes
were consistently
adopted throughout the national income
statistics.9 Such differences in procedure would either affect
gross saving and gross investment equally, or else would
involve a different division of gross saving and investment
9. The valuation of the change in business inventories in the national income statistics is
discussed in the NATIONAL INCOME supplement and in James P. Daly, "LIFO Inventories and National Income Accounting," SURVEY OF CURRENT BUSINESS, May 1953.
13
between capital consumption allowances and net saving and
investment.
As previously noted, however, these decisions do affect the
gross and net saving and investment figures in the table. The
most important points which should be kept in mind in their
interpretation are probably the exclusion of government
property and consumer durable goods, and the use of book
depreciation. Inclusion of government and consumer durable
assets would raise gross saving and investment in the Government and noncorporate sectors, and also net saving and investment so long as the stock of such assets is being increased.
The use of book depreciation, generally based on historical
cost (and the straight line method) tends throughout the
postwar period to yield higher figures for net saving and investment in the corporate and personal sectors than would
the use of replacement cost.
II
The Pattern of Saving in the Past Quarter Century
A convenient framework to place in perspective investment
and the saving which financed it is afforded by table 2, provided the characteristics of the data which have just been
discussed are kept in mind. In order to focus upon typical
patterns rather than those of a single year, data have been
cumulated for the prewar period covered by the estimates,
for the war years, and for the post-World War II years as well
as for the entire 25-year period.
Aside from the time periods, the table is similar to table 1
except for two modifications. First, figures for net investment, which were included in table 1 only for illustration,
have been omitted. Second, the Government surplus or
deficit has been divided between the surplus of social insurance funds and the surplus or deficit of governments arising
from other government operations, since this division is of
some interest. A further division between Federal and other
government operations is provided in the NATIONAL INCOME
supplement and will be referred to in the text.
Postwar saving and investment
The distribution of saving and investment among the parts
of the economy during the postwar period may be conconsidered first. In this period corporations accounted for
slightly more than half of the gross investment, two-fifths of
gross saving, half the total of capital consumption allowances,
and one-third of net saving.
Persons and noncorporate business accounted for not far
from half of total gross investment. Their gross and net
saving and capital consumption allowances each represented
slightly over half of the corresponding totals for the economy
as a whole.
The government surplus on income and product account
represented 8 percent of the gross saving and 14 percent of
the net saving of the economy in this period. Foreign investment comprised 4 percent of total gross investment and,
of course, a somewhat larger proportion of net investment.
One of the more interesting features of table 2 is the extent
to which gross saving approached a balance with gross investment within each of the two private domestic sectors.
Thus, on a consolidated basis, gross corporate investment in
construction, equipment, and inventories was financed to the
extent of almost 78 percent from internal sources—43 per
cent by capital consumption allowances and 35 percent by
undistributed corporate earnings. Only 22 percent required
drawing upon the saving of other sectors; this amount is
equivalent, in the usual sources and uses of funds statement,
to the excess of funds obtained from external sources over
other uses of
funds (increases in financial assets and land
acquisition).10
Gross investment in the plant, equipment, and inventories
of farm and nonfarm business, in houses, and in construction
by nonprofit organizations absorbed 87 percent of the gross
saving by persons and unincorporated business. Only 13
percent of gross saving (or about one-fifth of net saving)
represented the excess of additions to the financial assets of
persons and noncorporate business over additions to their
liabilities to the other sectors of the economy.
It will be understood, of course, that these statements
apply only to each sector as a whole on a consolidated basis.
The individuals or firms contributing the saving were not
necessarily the same as those making the investment. A
particular corporation (or individual) can tap saving by
another corporation (or individual) only by borrowing or the
transfer of equity funds, so that from its standpoint such
saving is just as much an external source as saving by a
different sector.
For corporations, however, the correspondence between
saver and investor was probably sufficient for the availability
of funds from internal sources, as such, to have had some
effect upon the amount of corporate investment and, conversely, for the size of corporate requirements for investment
funds to have influenced the amount of dividend payments,
and hence of corporate saving. Among individuals, however, there probably was relatively little correspondence
between savers and investors even for the period as a whole,
and even less for shorter periods. Hence, there can have
been but little direct causal relationship between the amounts
of noncorporate investment and of noncorporate saving.
10. Data for corporations shown in table 2 differ from corresponding data shown in the
"Sources and Uses of Corporate Funds" table on page 5 of the September 1954 SURVEY in
several respects, of which the more important are Cl) inventories and undistributed profits
include the inventory valuation adjustment; (2) gross investment and capital consumption
allowances include capital outlays charged to current expense; (3) banks and insurance companies are included; and (4) fixed investment estimates were derived, by the procedure described earlier, as an allocation of total fixed investment measured in the gross national product, instead of by an allocation to corporations of a portion of the plant and equipment
expenditures reported in the OBE-SEC surveys.
SURVEY OF CURRENT BUSINESS
14
The net flows of funds among the parts of the economy are
also of interest. In the 8 years of the postwar period investment by corporations in plant, equipment, and inventories
exceeded their saving by $41 billion. Net investment
abroad amounted to $12 billion. Corresponding to this
Table 2.—Saving and Investment by Sectors
[Billions of dollars]
Gross
investment
Gross
saving
Capital
conNet
sumption al- saving
lowances
Saving
less
investment
January 1955
and product account of governments were otherwise in
balance for the period as a whole. Almost
the entire surplus
occurred in the Federal component.11
Insofar as the private domestic groups are concerned, the
pattern is fairly typical—investment by corporations as a
whole normally exceeds their saving while an excess of saving
over investment is usual in the noncorporate sector, although
there have been exceptions to both. The position of governments, on the other hand, has varied widely and frequently
between a surplus and deficit position, and net foreign investment has also fluctuated frequently between positive
and negative amounts.
Prewar and wartime patterns
1929-41
Corporations _ _
Persons and noncorporate business _
Government
Social insurance funds
Other_
Rest of the world
Statistical discrepancy
Total for the economy
57
54
7
118
46
86
— 20
9
-29
54
49
6
-12
33
— 20
9
-29
-7
6
15
0
18
126
-167
16
-183
5
25
131
-167
16
-183
6
5
-19
0
63
102
27
26
0
3
-41
23
27
26
0
-12
3
195
0
72
266
-160
51
-212
14
-27
187
-160
51
-212
-13
14
192
0
-8
37
-20
9
-29
6
118
102
1942-45
Corporations
Persons and noncorporate business
Government
Social insurance funds
Other
Rest of the world
Statistical discrepancy
Total for the economy
17
16
42
147
-167
16
— 183
25
21
-6
5
27
27
46
1946-521
Corporations
Persons and noncorporate business _
Government
Social insurance funds
Other
Rest cf the world
Statistical discrepancy Total for the economy
181
159
140
182
27
26
0
78
80
12
3
353
353
157
1929-5;5
Corporations
Persons and noncorporate businessGovernment
Social insurance funds
Other
Rest of the world
Statistical discrepancy
Total for the economy
256
229
228
415
-160
51
-212
156
149
13
14
498
498
305
NOTE.—Estimates of noncorporate investment and depreciation for 1929-32, not shown in
the NATIONAL INCOME supplement, were prepared by methods similar to those followed in
later years, in order to complete this table.
Source: U. S. Department of Commerce, Office of Business Economics.
$53 billion was an excess of saving over investment elsewhere
in the economy. This was provided (aside from the $3
billion unaccounted for as a result of the statistical discrepancy) to the extent of $23 billion by persons and noncorporate
business and some $27 billion by Government. The latter
amount was almost wholly in the form of social insurance
fund surpluses, as the receipts and expenditures on income
The postwar pattern may be compared with those before
and during World War II. The major characteristics of
the 1929-41 period were the low volume of investment
associated with the depression of the thirties, and the presence of substantial Government deficits incurred as a result
of reduced tax yields and the effort to stimulate economic
activity by Government expenditures. Capital consumption
allowances almost matched gross investment in both the
corporate and noncorporate areas. The total net saving
of the economy, as measured, was small; in 6 of the 13 years
it was actually negative. Net personal saving, itself small,
served in large part to offset dissaving by Government and
corporations rather than to finance investment in excess of
capital consumption allowances.
The war period pattern was strikingly different from the
peacetime periods, and makes especially clear the sharp distinction between personal saving and the total saving of the
economy.
With the heavy demands placed upon available resources
by the war, little was available for private investment.
Output of consumer goods could not advance to keep pace
with the sharp rise in consumer income caused by war
production, and price increases were restrained by controls.
Despite sharp advances in ttaxes, the combined Government deficit on income and product account amounted in 4
years to $167 billion. For the Federal Government alone it
came to $177 billion, but State and local governments, with
their financial position influenced contrarywise by the same
forces as the private economy, had a $10 billion surplus.
Under these circumstances, gross investment fell below
capital consumption allowances, and12 the net saving of the
economy as a whole was negative.
Private net saving,
however, was enormous, coming to $126 billion for persons
and $18 billion for corporations. With capital consumption
allowances exceeding gross investment, the excess of their
saving over their investment was in each case still larger. In
addition net foreign investment turned negative as foreign
countries, owing to the relative scarcity of goods available
for commercial import from the United States, built up their
dollar balances.
The mechanisms by which private saving was made available to finance the Federal deficit were diverse. Federal
bonds were sold directly to individuals and nonfinancial
corporations. Private debts to financial institutions were
paid off and replaced by Government loans. The proceeds
of bank loans to the Government, based on credit expansion,
when spent added to the liquid asset holdings of individuals
and businesses.
11. The "cash" surplus of the Federal Government over this period was much smaller than
the surplus on income and product account chiefly because (1) there was a large increase in
outstanding Government loans (other than non-recourse loans to farmers) to private business
individuals, foreign countries and international organizations, which is treated as an expenditure in the "cash" budget; and (2) corporate liability for taxes on 1953 income, payable in
1954, greatly exceeded liability for taxes on 1945 income, payable in 1946.
12. A qualification should be noted here, though the subject will not be discussed. Actually, a large volume of investment was made by the Federal Government during the war in
productive facilities of a character normally financed by private means. Some of these were
later transferred to private ownership and used in private production.
SURVEY OF CURRENT BUSINESS
January 1955
The effect of this wartime experience upon the structure of
asset holdings and claims in the economy was enormous, and
in some respects brought about the largest changes that occurred during the past quarter century. This will be illustrated for the personal sector by a table to be presented later;
at this point in the discussion, a comparison of the data in
table 2 for the 4 years of World War II with the totals for
the entire 25-year period is instructive.
Of the 25-year total of personal saving, 46 percent came
during the 4 war years. Of the excess of saving over investment in the personal and noncorporate area—representing
additions to financial assets in excess of additions to debt to
the other sectors—the war years were responsible for fully 70
percent.
For corporations, the war years contributed 25 percent of
the net saving for the entire period. They canceled almost
half of the excess of investment over saving accruing in the
other 21 years of the period—with a corresponding impact
upon corporate financial assets and debt.
Gross Saving and Investment in the
Postwar Period, 1946-53
BILLION DOLLARS
400—
*—
300 —
INVESTMENT
200 —
SAVING
100 —
PERSONS
AND
NONCORPORATE
BUSINESS
CORPORATIONS
GOVERNMENT
REST OF
THE WORLD
TOTAL
FOR THE
ECONOMY
U & DEPARTMENT OF COMMERCE* OFFVCE OP BUSINESS ECONOMICS .
aside from cyclical fluctuations and war periods, total investment and saving have comprised a rather stable proportion
of gross national product over a long period of time.13
Cyclically, the ratio of total investment and saving to gross
national product has risen in prosperous years and declined
in recession years, since investment has fluctuated much
more widely than consumption. Indeed, it is well accepted
that the changing intensity of investment demand—war
periods aside—has in the past been a prime cause of such
variations in the dollar value of the gross national product.
Over most of the period covered by these investigations
the scope of Government operations in the economy, and in
particular the size of the combined Government surplus or
deficit, were small except in wartime. Hence earlier experience was consistent with stable relationships between
gross national product and both (1) total gross saving or investment and (2) gross private saving (the sum of gross
saving by corporations and by persons and noncorporate
business). Gross private saving, it is important to note, is
equal to gross investment plus a Government deficit on income or product account, or minus a Government surplus.
In the more recent period, with the enlarged scope of
Government activity, wide fluctuations in Government
spending in response to changing defense and other requirements, and heavy reliance upon sensitive Government revenue sources, Government surpluses and deficits have frequently been large and have fluctuated widely from year to
year. Under these conditions the movement of total gross
investment or saving has no longer corresponded closely to
that of gross private saving, and it is of interest to examine
the relationship of each to changes in the value of total
production.
jj
On the accompanying chart the solid line shows the ratio
of gross private saving to gross national product from 1929
through 1953 and the dotted line the ratio of gross saving to
gross national product. The difference between the two is
the ratio of the Government surplus or deficit (and the
statistical discrepancy) to gross national product.
Examination of the gross private saving ratio shows, aside
from sharp movements during World War II and its immediate aftermath, that it (1) closely followed business fluctuations during the decade of the thirties, falling when the
gross national product was reduced and rising as activity
increased; and (2) most interestingly, was highly stable
during the period of sustained postwar prosperity from 1948
through 1953 at a rate about the same as in 1929, or about 15
percent of gross national product. The downward movement
in the very moderate recession of 1949 was small and preliminary data suggest that any change in 1954 was also
slight.
In general, the series corresponds well to the expectation
derived from longer-run experience of stability of the ratio
as among prosperous years, and of positive association with
cyclical changes in gross national product.14 This means, of
55-1-5
The $167 billion Government deficit on income and product
account for the war years compares with $160 billion for the
period as a whole.
Relation of saving and investment to GNP
Studies by private investigators, particularly Simon
Ruznets and Raymond Goldsmith, have indicated that,
15
13. These studies have covered periods dating back almost to the Civil War. They have
been based on definitions which are not identical with those followed here, and some series
have suggested a downward movement of the saving ratio toward the end of the nineteenth
century. The statement in the text is intended as a broad generalization based upon their
findings; the original studies should be consulted for detail. Convenient summaries by the
authors are presented in Simon Kuznets, "Proportion of Capital Formation to National
Product," American Economic Review, Vol. XLII, No. 2 (May 1952), pp. 507-526; and Raymond Goldsmith, "Trends and Structural Changes in Savings in the Twentieth Century,"
in Savings in the Modern Economy, University of Minnesota Press, 1953, pp. 133-152.
14. If the ratio of private saving to gross national product is related to an index of the cyclical
position of the economy (such as the proportion of the labor force employed), it will be found
that the saving ratio is higher in the later years of the prewar period than in "corresponding"
years of the early thirties. It appears that a satisfactory mathematical expression of the
relationship between the two would require a formula, rather similar to the "ratchet" functions developed by Franco Modigliani, which in periods of substantial underutilization of
resources would take account of the ratio of current-year GNP to the peak of GNP in the last
prosperous period rather than to the current full-employment level only.
SURVEY OF CURRENT BUSINESS
16
course, that as between two prosperous years, gross private
saving and gross national product have tended to change in
the same proportion, whereas during major cyclical movements, percentage changes in gross private saving have been
much larger than those in gross national product.
The ratio of total gross saving (or gross investment) to
gross national product also followed the business cycle closely
in the prewar years, although the exact pattern was somewhat
January 11).">5
obvious influence of investment upon future productivity,
any stronger tendency for investment to stimulate further
investment would tend to appear as an increase in both
gross national product and private saving rather than as an
increase in the ratio shown on the chart.
Interaction of investment and activity
A close relationship between investment-plus-Government-deficit and gross national product does not, of course,
indicate that the causation is in one direction. In actual
fact it is quite clear that there is considerable interaction,
in which the amount of investment and the size of the
Government surplus or deficit are major determinants of the
value of the gross national product, but are also themselves
greatly influenced by market prospects, which are related
to the size of consumption and total gross national product.
Moreover, even if it were to be supposed, for example, that
private investment plans and Government plans to spend and
raise revenue (i. e., for the size of the Government surplus or
deficit) were wholly independent of the size of the gross
national product, actual investment and the actual Government surplus or deficit would frequently be affected by
changes in the size of the gross national product in at least
four important ways. These include (1) unplanned inventory accumulation or liquidation; (2) the effect of income
changes upon tax revenues; (3) the effect of income and
inventory changes upon imports (and, indirectly upo
exports), which affects net foreign investment; and (4) price
changes.
Gross Private Saving and Total
Gross Saving as a Percentage of
Gross National Product
PERCENT
30
CROSS PRIVATE
SAVING
20
Broad stability of total saving relationship
TOTAL GROSS
SAVING
0
I
1 1 I
1929
31
I
1 I I 1 !
33
U. S. DEPARTMENT
35
37
1 1 1 1 I
39
41
I
43
I
1 1 I
45
47
I 1 I
49
OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
1 I
51
1 I
53
55
55~l-6
different, and the average ratio for the postwar period was
not very different from that in the last predepression year
of 1929. Within the postwar period, however, swings in the
ratio, not associated with cyclical changes, were rather wide,
including a reduction from 17.4 percent in 1951 to 13.6
percent in 1953 (a difference equivalent to $14 billion of
gross investment at the 1953 level of gross national product).
It is not surprising that in this period the ratio is more
stable when the Government surplus is added to investment.
This fact is consistent with the common observation that to
a degree an increase in a Government deficit on income and
product account, or a reduction in a surplus, exerts an expansionary influence upon the dollar value of gross national
product somewhat similar in character to that of an increase
in investment, since both add to private income—without,
in general, adding correspondingly to the supply of goods
and services available for private consumption.
There is, of course, no implication from the stability of
the private saving (or investment-plus-Goveniinent-deficit)
ratio that the full effects upon the size of gross national
product of a dollar of gross investment and a dollar of Government deficit are similar. Analysis required to measure
the impact of different expenditures upon the economy is
beyond the scope of the present discussion. It may be pointed
out, however, that even apart from the important and
This by no means suggests that the relationship is not
meaningful, however. For there is considerable reason to
believe that, while investment decisions and decisions with
respect to Government expenditures and revenues are strongly influenced and at times dominated by the current size of
gross national product and the current strength of markets
generally, longer term and other considerations are such that
they do have a substantial element of independence of the
immediate business position.
If this is so, it implies that the stability of the relationship
noted between gross saving and gross national product rests
mainly upon saving habits—that is to say, that decisions ol
persons and business firms with respect to the amount they
save rather than use for current expenditures are primarily
dependent upon the value of gross national product (i. e., oi
the gross income, before all taxes, earned in current production) or upon other determinants which move in close
association with the gross
national product, rather than upon
independent influences.15 The nature of this relationship,
to repeat, is that persons and firms as a whole have saved a
rather constant proportion of gross national product in
prosperous years and a progressively lower percentage in
poorer years.
It should be clearly understood that there is nothing
inherent in the system of national accounts that automatically ensures this relationship, as is illustrated by the
fact that it has not held during periods when unusual
influences were dominant. During World War II individuals
and firms sharply raised their rate of saving—partly, at
least, under the necessity imposed by shortages of goods
available for purchase by consumers, accompanied by rationing and price controls—and in 1946 and 1947, with backlog
demands strong and liquid asset holdings large, they cut
saving below the usual rate. In the quarters of late 195C
15. This need be true, of course, only in a net sense—that is, other factors could powerfully
influence the saving of particular firms or individuals if their influence were offsetting among
the individual units and thus did not affect total private saving.
SURVEY OF CURRENT BUSINESS
January lJ)5r»
17
Table 3.—Gross Private Saving Components as Percentages of Gross National Product in Seven Prosperous Years, and Analysis of Ratios
for Major Components
1929
1948
1949
1950
1951
1952
1953
7-year
average
Mean deviation from
7-year average
In percent- In percent
age points
A. Percent of Gross National Product
1
Gross private saving
Gross personal and noncorporate saving
3
4
5
Personal saving
Capital consumption allowances
Gross corporate saving
6
7
Net saving
Capital consumption allowances
15.0
14.5
14. 1
14.3
15.1
15.2
15.1
14.8
0.4
2.8
7. 9
7. 1
6.6
8. 0
9. 0
9. 0
9. 2
8. 1
0. 8
10. 0
4. 0
3. 9
3.9
3. 2
2.9
3. 7
4. 2
3. 7
5. 4
3.6
5. 3
3. 7
5. 5
3. 7
4.5
3.6
0. 8
0. 1
17. 9
3. 3
7. 2
7. 4
7. 4
6. 3
6. 1
6. 2
6.0
6. 7
0. 6
8. 6
2. 8
4. 4
4. 2
3. 2
4.0
3. 5
2. 8
3. 5
2. 6
3. 5
2. 6
3.6
2. 2
3. 8
3. 0
3. 6
0. 6
0. 3
20. 2
7. 1
B. Analysis of Gross Saving Percentages for Major Components
8
9
10
11
Gross personal and noncorporate saving as a percent of
GNP (line 2, or 9 x 10)
Gross disposable personal income
GNP
l
7.9
7. 1
6.6
8.0
9.0
9.0
9.2
8.1
0.8
10.0
as a percent of
83. 5
76.2
76. 8
76. 0
72. 5
72. 1
72. 2
75.6
2.9
3.8
Gross personal and noncorporate saving as a percent of gross disposable personal income
9. 4
9. 4
8. 6
10. 5
12. 4
12. 5
12. 7
10. 8
1. 5
13. 9
Gross corporate saving as a percent of GNP (line 5, or
12 x 13) _ _ _ _ _ _ _
.
7.2
7.4
7.4
6.3
6.1
6.2
6.0
6.7
0.6
8.6
2
12
Gross corporate income after tax as a percent of
GNP___
_
12. 7
10. 2
10. 3
9. 6
a9
8.9
8. 5
9.9
1.0
10. 5
13
Gross corporate saving as a percent of gross corporate income after tax
56. 3
72. 4
72. 0
66. 2
68. 8
70. 3
69. 9
68. 0
3. 8
5. 7
1. Disposable personal income plus noncorporate capital consumption allowances.
2. Corporate profits and inventory valuation adjustment plus corporate capital consumption allowances (and the negligible item "excess of wage accruals over disbursements") less
corporate profits tax liability.
and early 1951 the saving rate again fluctuated widely as
spending jumped and fell in accordance with fears of future
shortages and price advances—although the quarterly
fluctuations were ironed out enough to prevent the period
from appearing very exceptional on the basis of annual data.
The considerable stability evidenced by the saving pattern
in ordinary times is not, indeed, easy to explain. The
difficulty is pointed up by table 3. This table is confined to
1929 and 1948-53, covering only prosperous peacetime years
in which the ratio of gross private saving to gross national
product did not vary a great deal.
This considerable stability did not result from a corresponding stability in the components of private saving.
Instead, as the upper portion of the table shows, there was
much greater variation in the ratio of both gross corporate
saving and gross personal saving to gross national product
but the variations were generally in opposite directions and
offsetting. For example, gross personal saving comprised
an appreciably higher proportion of gross national product
from 1951 to 1953 than in the earlier years, but the corporate
saving ratio was lower.
The last column of the table makes the point rather
clearly. If one estimated total gross private saving in each
of the 7 years by applying its average percentage (14.8) to
gross national product, the estimates would differ from the
actual figures by an average of less than 3 percent. But
If he followed the same procedure for gross corporate saving
alone he would be off, on the average, by about 8K percent
and for gross personal saving by 10 percent.
325978°—55
3
NOTE.—Detail may not add (or multiply) to totals or period-averages because of rounding.
Source: U. S. Department of Commerce, Office of Business Economics.
Moreover, the ratio of gross saving in each sector to the
gross income after tax in the same sector, out of which
saving is made, is not consistently more stable than its
ratio to total gross national product. In the case of corporate saving, it is true, application of the average ratio to
corporate gross income, rather than gross national product,
would cut the average error of estimate from 8)2 to 5% percent, despite the fact that 1929 appears quite different from
the postwar years. But for gross personal saving the use
of an average ratio to gross personal income rather than
gross national product would raise the average error from
10 to 14 percent.
In terms of its composition, therefore, the stability of the
overall private saving rate in prosperous years gives the
appearance of resulting in considerable part from a complex
of offsetting changes in the ratios of gross corporate and of
gross personal income to gross national product and in the
rates of corporate and personal saving out of gross income
in the two sectors.
Summary
It is not the purpose of the present article to attempt to
carry the analysis beyond this stage. Results so far may
be summarized as follows.
Observations over a long period of years, dating back to
the last century, suggest that, aside from periods affected
by major war controls or scares, the ratio of gross private
saving to gross national product has been rather stable in
18
SURVEY OF CURRENT BUSINESS
prosperous years; and there has also been a close cyclical
relationship between the two. Changes in the rate of
national output have appeared to stem predominantly from
changes in investment demand, so far as the private economy
is concerned, and from changes in the relation between
Government receipts and expenditures, with the private
saving rate playing a more passive role. Experience up to
the present time has continued to be consistent with this
relationship.
While the foregoing is true, it likewise appears that in the
past quarter century, and especially the postwar years, the
period for which statistics are most adequate and which is
also the most relevant for consideration of future probabilities
the constancy of the saving rate in prosperous peacetime
years was, if not fortuitous, the result of complex economic
January 1955
interrelationships which have yet to be described. Under
this circumstance less confidence can be placed in its continuance than would be the case if it could be simply and
convincingly explained.
There is also a possible corollary of the fact that the total
saving rate has shown more stability than have the saving
rates for the corporate and personal sectors separately
(whether or not net saving is distinguished from capital
consumption allowances). It suggests that it will be difficult
to establish statistical expressions of the relationships
between variables governing changes in the separate components of saving, and then cumulate them to explain
aggregate saving, in a way which will more satisfactorily
describe changes in total private saving than can be done
by dealing with total private saving directly.
Ill
Personal Saving
Previous discussion has stressed that personal saving is
only a part, and a highly variable part, of total saving. In
this section attention is directed in more detail to personal
saving as such.
The probable accuracy of the data may be considered
first. In the national income statistics personal saving is
obtained by deducting personal consumption expenditures
from disposable personal income. Hence it picks up any
errors in the income and expenditures estimates to the extent
they are not compensating. For this reason a fairly liberal
allowance for error in the relatively small residual estimate
of saving would be required if there were no checks on the
estimate. But this is not the case.
The national income statistics also provide a second estimate which is largely independent of, and can be compared
with, the first. This is secured by deducting saving by
corporations and Government from total investment. This
personal saving estimate also picks up any errors in the
aggregates from which it is derived as a residual, but such
errors are almost wholly distinct from those entering into
the first estimate.
Still a third estimate of personal saving can be obtained by
adding the value of changes in the assets of the noncorporate
private economy and deducting changes in its liabilities to
others. For most items, the statistical procedure is to
determine the value of the asset or liability at the beginning
and end of the period for the economy as a whole, deduct the
amounts pertaining to corporations, Government, and
foreigners, and take the change in the remainder as the addition to the asset or liability of the noncorporate private
group. For holdings of "real" assets and corporate securities
the change during the period is estimated directly, rather
than as the difference between values at the beginning and
ending of the period.
This saving estimate, which is prepared by the Securities
and Exchange Commission, is largely independent of the
other two. It is detailed, and compared with the others, in
table 6 of the 1954 NATIONAL INCOME supplement.
Agreement of independent estimates
The accompanying chart shows the three estimates with
the area they span shaded. (For 1929-32 the third estimate
is not available so only two are shown.) With respect to the
general level of personal saving and important changes in its
amount over time, the three largely independent estimates
serve strongly to corroborate one another and lend confidence
in the accuracy of the findings.
If the "true" saving figure is thought of as probably lying
within or close to the shaded area, the range covered by that
area is not so broad as to raise doubts about the major swings
in saving; on the contrary, these stand out clearly. The
chart also makes clear, however, the inadvisability of stressing small changes in the amount of saving. From 1951 to
1952, for example, one series increases slightly, one decreases
slightly, and one is virtually unchanged. All agree, however,
that saving was about the same in the two years, and this is
all that is analytically significant.
A qualification to the independence of the three saving
estimates should be noted with respect to the depreciation of
noncorporate property. Depreciation figures enter into the
derivation of all three estimates in much (though not quite)
the same form. In addition, for farm and residential
properties the figures are not based upon individual records
but are instead computed estimates for such properties as a
whole. The gross noncorporate saving estimates shown in
the tables should probably be viewed as somewhat more
reliable than those for net personal saving.
It should also be noted that the quarterly figures and the
preliminary annual estimates based on the quarterly data
which appear in the February issues of the SURVEY are
appreciably less reliable than the regular annual series.
Components of saving
In addition to providing an independent estimate of total
personal saving, the Securities and Exchange Commission
data provide an interesting breakdown of changes in the
assets and liabilities of the private noncorporate group.
These may be assembled in various wavs.
SUEVEY OF CUEEENT BUSINESS
January 1955
In table 4 they are so organized as to detail the summary
data shown in table 2 for saving and investment in the
personal and noncorporate business sphere. Gross and net
investment in real assets counted in the capital stock are
distinguished from the change in net claims on and net
transfers of equity funds to others, which is shown in table 2
as the excess of saving over investment. The "errors and
omissions" line in table 4 (which represents the statistical
difference between saving estimated as income-less-consumption and saving estimated from changes in assets and liabilities) has been placed as it has solely to facilitate the comparison of table 4 with table 2. It has no implication with
respect to the superiority of one series over the other, or the
probable source of differences between the two.
Meaning of the detail
The simplest way to derive an estimate of personal saving by the assets and liabilities approach would be to sum
(in addition to direct investment within the noncorporate
area) changes in the debt of the rest of the economy to the
private noncorporate sector, deduct the changes in the debt
of the private noncorporate sector to the rest of the economy, and add the net flow of equity funds16from the private
noncorporate segment to the other sectors.
All changes in
16. As noted in part I, transfers of land and used durable capital assets should also be
counted in principle. Statistically, account has been taken in table 4 only of transfers of
farm property (line 8) and in line 4 (nonfarm dwellings) where it has been handled as an
adjustment to new purchases. The farm item has been grouped in the tables with new investment, rather than broken out separately, because of its small size and the absence of
similar data for other types of property.
Transfers of equity funds cannot be distinguished statistically from loan funds in the data
given in table 4, principally because net acquisitions of corporate and foreign securities in
line 23 do not distinguish stocks from bonds, and also because of the treatment afforded life
insurance companies and certain other financial intermediaries, as detailed in the following
paragraphs.
19
debt or flows of equity funds both parties to which are
within the private noncorporate sphere would be omitted,
since they cancel out. The detail shown for changes in
assets and liabilities would then be on a correspondingly
consolidated basis.
For the most part, this is what has actually been done.
However, in order to make the detail of the estimates
shown in the lower half of table 4 correspond somewhat
more closely to changes in assets and liabilities as seen
from the viewpoint of individuals, modifications of the
procedure have been introduced in the case of a few financial intermediaries.
Thus, mutual life insurance companies (including fraternal life insurance associations) have been separated from
the rest of the sector. The increase in their assets (exclusive
of loans to policyholders) less the increase in their obligations (other than to policyholders) has been computed and
is shown, together with similar data for stock life insurance
companies, in line 21, to represent personal saving in the
form of private life insurance. As a result, the cash and
deposits and security holdings of life insurance companies
are omitted from lines 19-20 and lines 22-23 of table 4,
and any debt of insurance companies is omitted from line 24.
Also, changes in the debt of individuals and other noncorporate entities to life insurance companies (other than
loans to policyholders) do not consolidate out but instead
are included in line 24 and the supporting detail.
Mutual savings banks and saving and loan associations
are rather similarly treated. Changes in deposits or shareholdings in these associations are counted, as such, as
changes in personal assets (in lines 19 and 20). The assets
and debt of these associations are omitted from lines 18
ESTIMATES OF PERSONAL SAVING
BILLION DOLLARS
40 —
SAVING DERIVED AS:
INCOME LESS EXPENDITURES
RANGE OF
INVESTMENT LESS OTHER SAVING —*
CHANGE IN ASSETS ( 1933-53 only}-*
ESTIMATES
30 —
20 —
10 —
-10.
1929
31
33
35
37
39
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
41
43
45
47
49
51
53
55
55-1-7
20
SURVEY OF CURRENT BUSINESS
and 24 and their components, while changes in the debt of
individuals to the associations are included in line 24 and
its components.17
These modifications are important in moving table 4
toward a breakdown which would represent changes in assets
and liabilities as seen from the standpoint of individuals
(including proprietors of unincorporated businesses) but it
should be recognized that the breakdown retains a decidedly
heterogeneous character. The "currency and bank deposits" and securities lines in particular include changes in
the holdings not only of individuals and unincorporated
business firms but also of private pension funds (other than
those handled by life insurance companies), health and
welfare funds, estates and private trusts, and nonprofit
organizations. The latter lend themselves to treatment
similar to that now afforded life insurance companies, if
problems of data availability can be surmounted. Private
pension plans, whose assets are believed to be growing currently by something in the order of $2 billion a year, are
perhaps the most important among them.
It should also be recognized that, except for the financial
intermediaries given special treatment, consolidation causes
to disappear from table 4 loans in which both the borrower
and lender fall within the private noncorporate sector. This
applies particularly to consumer debt to noncorporate business; individually held residential and farm mortgages; and
individuals' loans to noncorporate firms. Data permitting,
these could, alternatively, be shown both as changes in
assets under line 18 and as changes in debt under line 24, in
order to bring the breakdown closer to the classification as
viewed by individuals.
Neither of these alternatives would change the estimate of
personal saving, or its broad breakdown between investment
within the personal sector, on the one hand, and "additions
to financial assets less debt," on the other.
Changes in assets and liabilities
The first 4 columns of table 4 provide detailed data on the
composition of personal saving for the time periods given in
table 2. The principal comments suggested by these data
were made in connection with the earlier table. However,
the detailed information illuminates the fact that the rather
small value of postwar additions to net financial assets—$15
billion by direct estimate or $22 billion by the residual
approach, as compared with over $130 billion during the war
years—was the result of a continued very substantial addition to financial assets, amounting to $104 billion, which was
largely matched by an $89 billion growth in debt to corporations and financial intermediaries.
Most of this debt arose in the process of acquiring real
assets, particularly houses; the form in which personal saving
components are grouped in table 6 of the NATIONAL
INCOME supplement serves to stress this fact. In that
source increases in residential mortgage debt are offset
against net investment in houses, and increases in farm and
nonfarm business debt are offset against net investment in
the real assets of these enterprises, in order to obtain a rough
partial measure of the increase in the equity of individuals
in houses and noncorporate business properties arising from
current transactions.18 By this classification, the breakdown
17. This procedure results in the omission of a small amount of additions to reserve of
these associations which is included in personal saving as derived by the income-expenditure
method.
January
of the $102 billion personal saving total for the 1946-53
period appears as follows:
Billions of dollars
Increase in equity in residences and unincorporated
business property
11
Personal saving in other forms
84
Additions to financial assets
104
Less: Increase in consumer debt to corporations, etc
20
Errors and omissions
Total
8
102
The increase in consumer debt also arose mainly in the
process of acquiring goods, but it cannot be similarly offset
against the value of purchases since consumer goods other
than houses are not included in investment, or in personal
saving.
Since personal saving excludes all types of capital gains
and losses, the increase in equity in real property shown above
represents simply purchases of new assets less depreciation
and increases in debt; consequently, it does not measure the
enormous increase in the market value of the stock of houses
and noncorporate business property which has resulted from
the inflation of prices since 1945. The growth in debt, on the
other hand, has been swollen by the financing of resales of
existing properties (including land) at the higher price
levels, with the corresponding
increase in mortgage values.
A recent article 19 in the SURVEY pointed out that rough
estimates indicated "that in early 1953 the equity in mortgaged homes amounted to about 55 percent of the market
value of the residences—about the same proportion as in
1950, slightly higher than the similar ratio in 1940, and again
about equal to the proportion in the twenties." The proportion of owner-occupied homes that were mortgaged at
that time—45 percent—was stated to be "no higher than
prewar and probably not greatly different from that of the
late twenties."
Value of financial asset holdings
Not only the market value of real property but also that
of individuals' holdings of corporate securities has been
greatly affected by price changes. Indeed, changes in the
value of such security holdings have resulted to a much
greater extent from fluctuations in the securities markets
than from the net flow of equity funds from individuals to
corporations.
While precise data are not available, the Securities and
Exchange Commission reports that rough estimates indicate
the value of such securities at the end of 1953 was of the order
of magnitude of $200 billion. During 1954 the value of
stocks listed on the New York Stock Exchange rose from
$117 billion to $169 billion, mainly because of rising quotations. This would suggest that last year realized and
unrealized capital gains on corporate securities added much
more to the market value of individuals' assets during the
year than did personal saving.
18. The same data may also be readily rearranged in a third form, as a sources and uses of
funds table for the private noncorporate group similar in form to that presented regularly
for corporations. This simply requires grouping as uses the "gross investment" and ''additions to financial assets" sections of table 4 in this article, and as sources the "depreciation"
and "increase in debt" sections. Because of the treatment, indicated above, of life insurance
companies, saving and loan associations, and savings banks, in the sources and uses table
these financial intermediaries are viewed as being outside the group.
19. Loughliri F. McHugh and Bernard Beckler, "Residential Construction Activity and
Financing," SURVEY OF CURRENT BUSINESS, December 1953, p. 18.
SURVEY OF CURRENT BUSINESS
January 1955
21
Table 4.—Composition of Gross and Net Personal Saving: Changes in Real and Financial Assets and Liabilities
[Billions of dollars]
tine
1
2
3
4
5
6
7
8
9
Item
Net investment
Gross investment
Plant and equipment
12
Less: depreciation
14
15
16
_ _
18
Additions to financial assets
19
20
21
22
23
24
25
26
27
28
29
7.3
16. 1
13.7
11.1
10.9
19.6
16.8
26.7
25.6
23.8
24.3
14 9
17 4
17 9
24 3
23. 3
22. 9
24 4
3 7
5 7
7 6
7 0
11 3
10 2
10. 3
10 9
5
8
1 i
1 3
1 4
1 3
1 4
1946
1947
4.9 — 5. 1
79.9
79.6
4. 1
5.4
11.2
53.7
15.8 159.4 228.8
10. 1
12.7
54. 4
14. 7 155. 1 224. 2
10 0
66 7
95. 0
5 1
1948
1949
1953
8 2
11 6
5 0
50 0
74 0
4 2
5 7
5 1
5 8
7 4
7. 1
6. 8
8 0
3 8
30 1
43 5
1 6
3 0
3 9
4 0
4 2
4 7
4 6
4 1
.5
.1
.1
.0
.0
.0
.0
.0
.0
.0
.0
—. 7
1. 1
4. 3
4. 6
2. 1 — 1. 1
2. 4
2. 3
.8
—. 1
.1
— 9
1. 0
1
4. 3
0
5. 4
— 8
.4
_ .. 48. 8
20. 9
79. 5 149. 2
51. 3
45. 7
52. 2
Additions to financial assets less debt, and errors
and omissions
Additions to financial assets less debt
1952
1929-53
4
Nonfarm dwellings and property of nonprofit institutions
Nonfarm unincorporated business
Farms _ _
17
1951
1946-53
3
Increase in inventories of unincorporated
business
Nonfarm
Farm
1950
1942-45
Nonfarm dwellings
23. 2
New construction by nonprofit institutions
_ _
3. 1
New construction and producers'
durable equipment, nonfarm unincorporated business _ _
19. 0
New construction and producers'
durable equipment, farms
9 7
Net purchases of farms from corporations and financial institutions-- -. 5
10
11
13
1929-41
l
Currency and bank deposits
Saving and loan associations
Private insurance
Government securities 1
Corporate and other securities
22. 0
12. 7
14. 1
21. 4
27. 2
31. 0
.1
—2 3
1. 0
1 i
2
— 9
1. 5
9
.9
1 4
.2
6
.6
— 7
6. 0
7. 2
8. 4
9. 5
10. 6
11. 8
12. 7
13. 3
2. 1
1. 8
2. 2
2. 2
2. 4
2. 7
2. 3
2. 8
3. 3
2. 5
3. 3
3. 7
2. 7
3. 6
4. 2
3. 0
4. 1
4. 7
3. 2
4. 5
5. 0
3. 5
4. 7
5. 2
0
32.6 131.5
22.5 186.6
8.5 — 1.4 — 1.2
.3 — 4.0
4.0
7.3
9. 1
39. 8 133. 5
14. 9 188. 2
6. 1 -1. 0 -3. 4 -1. 2 -7. 5
5. 0
6. 5
10. 3
6. 6
42. 5 126. 8 104. 2 273. 5
15. 4
63. 7
2. 7
12 0
50. 2
— 1. 8
30. 7 104. 2
15. 5 17. 1
32. 5 61. 8
10. 3 66. 3
15. 3 24. 1
10. 6
1. 2
3. 4
—. 4
.6
-6. 7
-3. 3
—. 2
89. 3
20. 2
43. 1
85. 3
19. 5
44. 8
9. 3
2. 3
3. 6
-1. 8
— 1. 4
20. 6
5. 4
18. 5
2. 6
9. 8
— 1. 1
17. 3
5. 8
10. 6
Increase in debt to corporations and
2. 7
financial intermediaries
Consumer debt
2. 6
Residential mortgage debt
1. 8
Debt of nonfarm unincorporated
business *_ __
-. 3
— 1. 4
Farm debt 1
Errors and omissions
7. 9
5 8
7. 2
. 1 — 2. 2
— 7. 2 — 2. 0
6. 9
11. 2
14. 8
19. 3
19. 7
2. 0 -1. 8 — 1. 5
1. 2
1. 5
1. 2
3. 7
3. 6
3. 8
2. 2
2. 0
2. 5
.8
1. 0
1. 5
3. 6
1. 5
3. 9
.8
1. 4
6. 0
2. 1
4. 0
—. 5
3. 2
7. 1
3. 1
4. 9
.5
3. 7
4. 7
3. 7
5. 1
3. 2
3. 0
11. 2
2. 7
4. 5
10. 0
2. 3
4. 6
8. 0
2. 4
3. 9
18. 7
3. 2
7. 2
9. 8
.5
6. 5
12. 8
3. 8
6. 3
9. 4
2. 8
6. 7
3. 0
.4
3. 3
.7
2. 3
.8
1. 2
.6
7. 2
1. 1
1. 5
1. 2
2. 1
.6
.0
--. 1
7. 6 — 1. 6
2. 3
—. 4
2. 2
1. 4
3. 4 -1. 0
.9
-1. 2
10. 2
30
Gross saving of persons and unincorporated business (2+16)
86. 3 147.3 181.9 415.4
18. 6
11.3
18.3
17.0
22.6
29.6
31.1
33.3
31
Personal saving (1 + 16)
37.5 126.4 102.4 266.3
12.6
4.0
10.0
7.6
12. 1
17.7
18.4
20. C
1. Additional detail is provided in the NATIONAL INCOME supplement.
NOTE.—In order to complete this table, estimates for 1929-32, not shown in the NATIONAL
INCOME supplement, were prepared by methods similar to those followed in later years;
and changes in financial assets and debt were taken from Irwin Friend, with the assistance of
V. Natrella, Individuals' Saving: Volume and Composition. Estimates for "corporate and
other securities" are quite unsatisfactory for that period.
Source: U. S. Department of Commerce, Office of Business Economics.
Since capital gains or losses, whether or not they are
realized, add to or subtract from the current value of an
individual's asset holdings, it would not be surprising if gains
tended to stimulate, and losses to reduce, consumer purchasing. If this were the case, in periods of large capital
gains consumption would tend to be high and personal
saving low relative to disposable income (which is measured
exclusive of capital gains and losses), while in periods of
large capital losses the opposite would be true. However,
no such systematic tendency is discernible in the data for
past years. If such a tendency exists at all, its effect is
small in comparison either with the total value of capital
gains or losses, or with personal consumption and saving.
Estimates of liquid asset holdings other than corporate
securities and of individuals' debt, as defined in the Securities and Exchange Commission's estimates, are shown for
selected dates in table 5. While revaluations of assets
resulting from defaults or other causes affect these data too,
their influence has been small, especially since 1941, and the
differences between values at different dates correspond
SURVEY OF CURRENT BUSINESS
22
closely to the value of net acquisitions of assets or net
incurrence of debt for corresponding items as shown in
table 4.
At the end of 1953 these liquid assets were valued at $328
billion, if assets of Government insurance funds (which
correspond roughly to social insurance funds as previously
defined, except for the omission of unemployment compensation funds) are omitted in order to bring the data into
accord with the definition of the personal sector used in the
national income statistics. This compares with $118 billion
at the end of 1941 and $264 billion at the end of 1945.
Inclusion of Government insurance, as in the Securities and
Exchange Commission data, would bring the 1953 total to
$380 billion, in addition to corporate securities. Mortgage
and consumer debt to corporations and financial intermediaries had reached $80 billion by the end of 1953 from a
figure of $17 billion at the end of World War II.
9. 2
25. 8
51. 6
16.0
20.4
17.0
79.9
11. 4
4. 6
13. 2
7. 2
13. 1
3. 9
55. 8
24. 1
Personal saving and investment
Table 5.—Liquid Assets Held by Individuals, Year End
[Billions of dollars]
1928
1941
1945
1953
79.9 118. 1 264.4
379.9
Other than Government insurance __ 78.4 108. 9 238.6
328.3
53.3 117.2
7.4
4.7
30. 6 43. 6
20. 3 70.4
147.9
22. 9
76. 5
81.0
Government insurance
Specified debt to corporations and financial intermediaries
Mortgage debt
Consumer debt-
43. 6
5.8
14. 6
14. 5
1. Does not include individuals' holdings of corporate securities.
Source: Securities and Exchange Commission.
to the seller. Again it is necessary to become somewhat technical, but we hope we can clearly show the interrelationships
existing among consumer purchasing power, personal saving,
and consumer spending. Futhermore, we want to stress that
the considerable regularity of the saving does have sales and
analytical significance.
An individual's maximum ability to spend for consumer
goods and services in any time period is limited ultimately
only by the sum of
(a) his income during the period,
(b) the value of his cash assets and other assets which can
be converted into cash, and
(c) his ability to borrow or to buy on credit.
For individuals as a whole, the sum of this maximum "purchasing power" far exceeds a year's income, and this would
be true even if the possibility of borrowing were to be excluded. Hence it would be hypothetically possible for personal consumption expenditures to bear a very irregular relationship to consumer income, and, indeed much to exceed
income in any given time period.
"Committed" saving
1. 5
We shall try now to answer the question frequently put to
us by business: Can I tap personal saving to increase my
sales; is this saving readily available purchasing power?
The summary answer to the first part is a qualified "yes"
and to the second part "no," but this answer is not very
informative and certainly should not be viewed as discouraging
Currency and bank deposits
Saving and loan associations
Private insurance
Government securities _ _
Since total potential consumer purchasing power is much
larger than income, the question as to how much of the large
volume of personal saving in recent years—some $20 billion
in 1953—really represents buying power which could be spent
if consumers so desired, has rather limited meaning.
The question generally has reference to the role of either
so-called "committed" saving or else of noncorporate investment.
Although there is no agreed definition of committed saving, it refers in a general way to saving which the saver either
"must," or at least has an overriding incentive to, make regularly. Usually mentioned are insurance, pension funds, and
debt repayment.
Aside from the fact that such commitments are not necessarily entirely firm, it should be recognized that insurance
premiums or debt repayments may be met not only from
current income but also by conversion of other assets or incurrence of other debt. More importantly, they may often
or usually substitute for other forms of asset accumulation
which would otherwise be made.
In considering the importance of "committed" saving, and
debt repayments in particular, in the saving total, it must be
further remembered that personal saving is the sum of
positive saving by some consumers and negative saving by
others, who are liquidating assets or incurring debt. In all
postwar years more debt has been contracted than repaid.
Actually, saving in insurance and pension reserves plus
repayments, which are largely contractual in character, on
the principal of consumer instalment credit and residential
mortgage debt alone amounted to about double the total
amount of personal saving even in a year of such large saving
as 1953. The magnitude of such "committed" saving is no
indication of the amount of income which consumers are
unable or unwilling to spend for consumption. Although
it appears reasonable to suppose that such periodic payments—and other systematic forms of asset accumulation,
such as the purchase of Government bonds through payroll
deductions—may have some tendency to expand total
saving, the amount cannot be measured and is certainly
modest in relation to the size of "committed" saving.
Saving and purchasing power
Liquid assets l
January 1955
The desire to buy a house, purchase a farm or noncorporate
business, acquire additional fixed assets for, or add to the
inventory of, an existing business, or to pay off the debt on
a house or business property, comprises one motive, among
many, for personal saving, and to this extent may influence
the aggregate amount of personal saving.
Actual investment in real assets, however, is quite distinct
from saving and is unrelated to the saving process, which
consists of spending less than income. For example, the
purchase of a house for $10,000, with a $2,000 downpayment
drawn upon a checking account and the incurrence of an
$8,000 mortgage, has no effect at all upon the saving total
which we report for the period. In table 4, it would result
in an addition of $10,000 to one asset line, dwellings, canceled
by a $2,000 reduction in another, currency and bank deposits,
and an $8,000 increase in the mortgage debt line. Purchases
of noncorporate business property are similarly without
effect upon pur personal saving total. As indicated aboyey
however, this is not to say that the necessity of meeting
periodic mortgage payments may not encourage saving by
the home purchaser in the future.
In view of the foregoing we should not expect to find more
correspondence, at least in the short run, between changes
SURVEY OF CURRENT BUSINESS
January 1955
in investment in the noncorporate sector and personal saving
than results from the general tendency for most economic
magnitudes to expand and contract together.
Examination of the data for the individual postwar years
provided in table 4 indicates that, in actual fact, the correspondence between changes in saving and in investment by
individuals has been, if anything, even less than this general
consideration might suggest. In only three of the postwar
Personal Saving as a
Percentage of Income
PERCENT
30
-
20
GROSS SAVING AS A
PERCENT OF GROSS
DISPOSABLE PERSONAL
INCOME
\
10
23
while corporate saving was little changed created a temporary
surplus of corporate saving over investment.
Changes in personal saving and its components
The discussions of "committed" saving and of noncorporate
investment suggest that changes in most of the components
of saving detailed in table 4 are likely to be dominated by
switches in the forms of asset holdings, or by the contraction
or repayment of debt with a simultaneous addition to or
reduction in asset holdings. Examination of the detailed
data indicates that none of them bears a stable relation to
total personal saving. These considerations suggest that
little insight into the behavior of total personal saving is to be
obtained by considering these saving outlets separately, and
attempting to reconstruct the course of the total from that of
its parts.
This is, after all, to be expected. There are many
motives for saving, and a single individual usually has several
more or less clearly in mind. Building up a net worth
position will ordinarily serve to help meet all or most of these
objectives, almost irrespective of the form it may take, for
the form can nearly always be altered without prohibitive
difficulty or loss by purchase, sale, or conversion of, or
borrowing against, assets. Such changes may be made
not only to meet changing needs but also to take cognizance
of changes in the relative advantages of different holdings
with respect to such aspects as income, safety, and prospects
for capital appreciation. Hence, it is not surprising that
total personal saving is steadier than the flow of funds into
and out of particular savings outlets.
Spending and income
years (1948, 1949, 1950) did net investment and personal
saving even move in the same direction. From 1950 to 1953
net investment dropped by $5 billion while personal saving
increased by $8 billion.
Thus neither a priori considerations nor the data for past
years suggest that in periods when investment in houses and
noncorporate business property is large, the rate of aggregate
spending from income on consumer goods and services is low.
In the short run, at least, investment in real assets and consumption do 20
not appear as competitors for the consumer
income dollar.
It may be noted, in explanation of the data in table 4, that
although personal saving usually exceeds investment in the
noncorporate area, and thus provides funds to finance an
excess of investment elsewhere in the economy, this was not
the case in 1947, 1948, 1950, and perhaps 1949. In these
years the personal sector instead drew upon others to help
finance investment. This was possible because in 1947,
1948, and 1950 large Government surpluses on income and
product account offset an excess of investment over saving in
the private economy. In 1949, Governments were in a
deficit position but a sharp drop in corporate investment
The foregoing considerations suggest that more interesting
and meaningful than the question of how much consumers
can spend, and what the businessman really wants to know,
is: What determines the amount consumers do in fact spend?
In practice, consumer expenditures—war periods aside—
have moved in crude correspondence to (and except in the
most extreme depression years been below) the disposable
income of consumers. This has been so notwithstanding
sharp changes in the amounts of debt repayment and other
"committed" saving, in the amount of personal and noncorporate investment, in capital gains and losses, and in
other variables which may be thought to affect the division
of income between consumption and saving. It is entirely
clear that by far the main factor governing the amount of
consumer spending has been the size of disposable personal
income.
This, and in particular the very close association of consumption with disposable personal income during the thirties,
has encouraged efforts to derive formulas which would fully
explain the values of personal consumption and personal
saving by reference to the size of disposable personal income
(measured in either current or constant dollars, and on
either an aggregate or per capita basis), to its amount as
compared with past periods, and to other factors, such as
the size of liquid asset holdings, which may influence spending and saving.21
However, while except during the war period the movements of consumption and income have been in rough
correspondence, during the postwar period the correspondence between the movements of personal income and of the
much smaller and more sensitive personal saving series has
20. It is probable that an exception should be made for the rather special case of involuntary
inventory accumulation on the part of unincorporated firms, which may create a "frozen"
asset which it would be difficult to use as security for credit extension, and perhaps also to
some extent for changes in farm inventories—insofar as farmers may consider their income to
consist of cash receipts less expenditures.
21. Some of these formulas, and uncertainties associated with their application in the postwar years, are discussed in "Personal Saving in the Postwar Period," by Irwin Friend,
SURVEY OF CURRENT BUSINESS, September 1949. That source also provides additional
analysis of certain other points discussed in the present article.
PERSONAL SAVING AS A PERCENT
OF DISPOSABLE PERSONAL INCOME
-10
I
I
1929 31
I
i
33
I
I
I
35
i
I
37
39
I
I
I 1
41
43
45
47
49
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
51
53
55
55-1-8
SURVEY OF CURRENT BUSINESS
24
not been close. Despite much ingenious and illuminating
research a formula, embodying and giving the proper weight
to the principal determinants of personal saving, which can
be applied with confidence in the postwar period seems not
to have been established.
In particular, the reason for the much higher personal
saving rate in the 1951-54 period than in 1948-50 is uncertain—as is the reason that it has combined with other changes
in such a way as to hold the ratio of total private saving to
gross national product nearly constant, as pointed out earlier.
January
together with a cross-classification by size of family income—
although many other characteristics of the population may
also be related to saving patterns.
Occasional surveys of family spending and saving have
provided a considerable body of knowledge concerning
differentials in the rate of saving among different groups in
the population in individual years. However, for such a
breakdown to add appreciably to understanding of changes
in total personal saving over time, it will be necessary to
secure statistics, for groups within the population, which
are of considerable accuracy, consistent with the national
income statistics, and extend over a period of years.
On the basis of what is now known it is difficult to appraise
in a definitive way the possibility that the rate of personal
saving in recent years has been unusually high and hence
likely to be reduced, as has been suggested on the basis of
prewar relationships, or the prospects for stimulating total
consumption at the expense of personal saving.
But whether saving is somewhat high or "in accordance
with expectations/' either answer would in no way provide
a deterrent to stimulating sales through the offering of new
and better products, greater values, and intensive sales
efforts. The main condition for a strong consumer market,
in addition to effective merchandising, is a high and rising
rate of disposable personal income.
Need for information by saver groups
If, as suggested, an individual's total saving is likely to
be more regular than changes in his holdings of individual
types of assets or of liabilities, further insight into the
determinants of saving and the saving process would probably be afforded by a classification of total personal saving
by significant groups among the population. Unfortunately,
data presently available provide no basis for the preparation
of such statistics.
Possibly the most useful single classification would divide
consumer units among those primarily dependent for income
upon farming, nonfarm entrepreneurial income, other forms
of property income, and wages and salaries, respect!vely,
NEW OR REVISED STATISTICAL SERIES
Farm Income and Marketings: Revised Data for Page S-2 l
Cash receipts from farming
Indexes, unadjusted
Receipts from marketings and CCC loans
Total,
including
Government
payments
Year and month
Receipts from marketings and
CCC loans
Livestock and products
Total
Crops
Totrtl
lotal
Dairy
products
Meat
animals
Poultry
and eggs
Total
Crops
i
Millions of dollars
2,642
2,074
1952' January
February
March
April
May
June
July
August
September
October
_ _
_ _ ._
December
Monthly average
1953: January .
February
March
April
May
--
- -
_
June
July
August
September
October
November
December
-
.
_ _ _ _ _ _ - .
.
_
.
Monthly average -
_
..
--
Livestock
and
products
Total
Crops
Livestock
and
products
1935-39=100
2,102
2,108
2,205
2,360
2,619
2,041
2,058
2,061
2,171
2,340
1,088
638
623
571
626
862
1, 531
1,403
1,435
1,490
1,545
1.478
343
327
369
383
437
438
920
824
794
825
811
756
249
234
254
259
264
254
395
308
311
311
328
353
384
225
220
202
221
305
403
369
378
392
407
389
143
116
118
117
126
137
133
82
76
67
79
110
151
142
149
154
161
156
2,755
2,946
3, 545
4,106
3 235
2,890
2,741
2,938
3,537
4,092
3,221
2,874
1,245
1,410
1,896
2, 288
1,600
1,401
1,496
1,528
1,641
1,804
1,621
1,473
419
401
373
369
356
351
776
810
934
1,072
869
762
272
300
317
339
376
335
414
443
534
617
486
434
440
498
670
809
565
495
394
402
432
475
427
388
158
163
187
215
172
168
169
181
220
255
172
171
150
150
162
184
173
165
2,747
2,724
1,187
1,537
381
846
288
411
420
405
152
143
158
2,784
1,943
2,100
2,019
2,113
2,243
2,759
1,927
2,075
1,982
2,079
2,217
1,335
647
687
572
596
813
1,424
1,280
1,388
1,410
1,483
1,404
342
323
353
370
419
413
783
682
707
702
705
661
275
252
304
309
316
290
416
291
313
299
314
334
472
229
243
202
211
287
375
337
365
371
390
370
165
118
126
124
131
145
178
88
89
77
81
117
155
140
154
159
168
166
2,437
2,564
3,222
3,888
3,374
2,939
2,423
2,556
3,217
3,881
3,370
2,927
,036
,136
,742
,309
,811
,466
1,387
1,420
1,475
1,572
1,559
1,461
392
375
348
349
338
348
673
716
780
842
836
763
300
314
330
364
371
334
366
386
485
585
508
442
366
401
616
816
640
518
365
374
388
414
410
385
154
161
189
229
195
173
151
161
217
286
211
183
157
162
168
186
183
166
2,636
2,618
1,179
1,439
364
738
313
395
417
379
159
153
164
' Compiled by the U. S. Department of Agriculture, Agricultural Marketing Service. Data have been revised to incorporate more complete information.
Physical volume of farm
marketings
* BUSINESS STATISTICS
Wlontki
JL HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1953 Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $1.50) contains monthly data for the years 1949 to 1952, and monthly averages for earlier years
back to 1935 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1949. Series
added or revised since publication of the 1953 Supplement are indicated by an asterisk (*) and a dagger (t), respectively, the accompanying footnote indicating where historical data and a descriptive note may be found. The terms "unadjusted" and "adjusted" used to designate index
numbers and dollar values refer to adjustment of monthly figures for seasonal variation.
Data from private sources are pro-
Statistics originating in Government agencies are not copyrighted and may be reprinted freely,
vided through the courtesy of the compilers, and are subject to their copyrights.
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
1954
January
February
March
April
May
June
Septem- October Novem- December
ber
ber
August
July
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates :f
National income, total
bil. of dol
Compensation of employees, total
Wages and salaries, total
Private
Military--.
Government civilian
Supplements to wages and salaries
299.9
298 9
299.6
298.8
208 8
197.6
164 1
9.9
23 5
11.2
206 4
194.6
161 2
206 6
194.9
161 5
23 7
11.8
23 8
11.7
207.2
195.6
161. 6
9.6
24.4
11.6
49 1
25 9
12.3
10 8
49 4
25 6
13.0
10 8
49
25
12
10
33 1
32.5
17.4
15 1
.6
8.9
34. 1
34.5
17.0
17 5
— .4
34.9
34.5
17.0
17 5
9.0
4
9.1
do
360 5
355 8
356 0
355 5
do._
do
do
do
229. 7
28.0
118 7
83.0
230.5
28.0
118 8
83.6
233 1
28 8
120 0
84.3-
234.8
28 9
45 5
25.7
24 0
— 4.2
44 5
26.0
22 7
-4.2
45
27
22
—3
45
28
21
—4
3
3
8
8
75
47
42
97
6
9
1
7
do
do
do
do
do
_ do
Proprietors' and rental income,
totaled
do
Business and professionalcf1
do
Farm
__
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment, total
bil. of dol
Corporate profits before tax, total . . do
Corporate profits tax liability
do
Corporate profits after tax
do
Inventory valuation adjustment
do
Net interest
._ - - .._ _ -. do _
Gross national product, total
Personal consumption expenditures, total
Durable goods _
._ _
_
Nondurable goods
Services
Gross private domestic investment, total
New construction .
__
.
Producers' durable equipment
Change in business inventories
do
do
do
do
Net foreign investment
_ d o __
Government purchases of goods and services, total
bil. of dol
Federal (less Government sales)
do
National security 9 _. __
_ do
State and local
do
Personal income total
Less: Personal tax and nontax payments
F.quals' Disposable personal income
Personal saving §
._
do
dodo
do
9.7
9.5
48.5
25 9
11.6
10 9
0
9
2
9
33
34
16
17
0
9.2
191 1
84.8
6
0
4
8
— .6
-1.1
— 1.0
86 0
59 8
50. 6
26 2
81
55
46
26
9
0
9
9
78
51
44
27
3
3
7
o
287 3
36. 1
251 2
21.5
285 1
32.8
252 3
21 8
9§5
32
252
19
7
9
9
7
9
2
8
4
2
.
286 2
32 9
>3 9
18 4
9=
PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:f
Total personal income
__
287.2
287 0
284 9
285 0
285 0
284 4
286 2
286 5
285 7
285 4
286 6
r
286 3
287 6
Wage and salary disbursements, total
do.-.
Commodity-producing industries
. _ do_
Distributive industries_ . _ _ . _ do
Service industries
do
Government
do
197.9
87.0
52.4
25.0
33 5
196.0
85.5
52.1
25 0
33 4
194.7
84.5
51 9
24 8
33 5
194. 7
84.6
51.8
24 9
33 4
194.5
84.2
52 0
25 0
33 3
194.3
83.7
52 0
25 2
33 4
195.0
84.2
52 3
25 2
33 3
195 5
84 0
52 5
25 5
33 5
195 7
83 4
53 1
25 4
33 g
195 5
82 7
52 8
25 8
34 2
195
82
52
25
34
4
4
9
9
2
r
196 1
82 9
r 52 9
26 1
r 34 2
197.4
83 8
53 0
26 3
34 3
Other labor income,do
Proprietors' and rental income - _ _ _ _ . _ do .
Personal interest income and dividends
do
Transfer payments . ._ . _ _
_.-do
Less personal contributions for social insurance
bil. ofdol..
6.6
49.1
23.7
13.9
6 7
50.2
23.8
14.4
6 6
49.6
23.9
14.8
6 6
49.6
23.9
15.0
6 6
48 9
23.9
15 8
6 6
48 2
24.0
15 9
6 6
49 4
24.0
15 8
6
49
24
15
6
47
24
15
6
48
24
15
6
48
24
16
6
8
4
0
r 1(J 5
4.0
4.1
4.7
4.8
4.7
4.6
4.6
4.6
4.6
bil. of dol
6
2
1
8
4.7
6
9
2
8
4.5
6
2
3
5
4.7
T
6 6
47 2
24 5
6
47
24
16
6
4
5
4
4.7
Total nonagricultural income
do
271.3
r 972 3
269 6
267 9
268 2
268 8
269 1
269 7
270 3
271 1
270 6
270 2
273 8
r
Revised.
tRevised series. Quarterly estimates of national income and product have been revised back to 1939 (annual data, to 1929): quarterly and monthly estimates of personal income, back to
19; '9 (monthly revisions prior to May ^1953 appear in the 1954 issue of the National Income Supplement). For quarterly data prior to 2d quarter 1953, see pp. 8 and 9 of the July 1954 SURVEY.
Includes inventory valuation
adjustment.
!„_...
j-.._x
^
£ Government sales are not deducted.
? Personal saving is excess of disposable income over personal consumption expenditures shown
a? a component of gross national product above.
S-l
SURVEY OF CURRENT BUSINESS
S-2
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 1055
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
GENERAL BUSINESS INDICATORS—Continued
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly totals :J
All industries
mil. of dol
7 666
6 240
6 918
6 629
i 6 894
do _
do
do-_
3,392
1 628
1,764
2,641
1 224
1,417
2 932
1 336
1 597
2 706
1 230
1,475
2,962
1 366
1,596
288
341
376
1,246
2,023
223
248
360
910
1,859
266
245
355
1 108
2 013
256
182
353
1,058
2,075
276
174
340
1, 134
2,009
28.56
27 48
27 19
27 00
12.22
1.10
1.26
1.52
4.46
8.00
11.87
95
1.06
1 47
4.29
7 84
11 37
1 06
92
1 36
4 43
8 05
11.30
1 02
Manufacturing
Durable-goods industries
Nondurable-goods industries
Mining
do
Railroads
-do
Transportation, other than rail
_ . do___
Public utilities
do _
Commercial and other
_ _ __ do _
Seasonally adjusted quarterly totals at annual rates:
All industries
bil of dol
Manufacturing
Mining
Railroads
Transportation other than rail
Public utilities
Commercial and other
do
do
do _
do
-do
do
1
26. 59
11. 11
1. 10
.62
1.39
4.07
8.30
.79
1 40
4.12
8 37
FARM INCOME AND MARKETINGS*
Cash receipts from farming, including Government
payments, total
mil. of dol
Farm marketings and CCC loans, total
do
Crops
_
do
Livestock and products, total
do
Dairy products
do
Meat animals
do
Poultry and eggs
do
Indexes of cash receipts from marketings and CCC
loans, unadjusted:
All commodities
1935-39=100
Crops
_
_ _ _
do
Livestock and products
do
Indexes of volume of farm marketings, unadjusted:
All commodities
1935-39=100
Crops
do
Livestock and products
.
do
3,374
3,370
1,811
1.559
338
836
371
2,939
2 927
1,466
1 461
348
763
334
2,629
2 611
1,195
1 416
329
790
276
1,960
1 946
643
1 303
313
703
267
2 014
1 990
538
1 452
342
813
279
1 914
1 881
494
1 387
345
758
258
508
640
410
442
518
385
394
422
373
294
227
343
300
190
382
284
175
365
195
211
183
173
183
166
160
167
155
123
96
143
127
78
164
120
67
161
1947-49=100
130
124
124
126
126
-do
do
-do
do
do
do
do _
do
do
-do
132
146
122
129
146
158
130
154
135
191
125
140
110
114
145
155
126
149
137
172
126
140
113
115
145
155
124
146
132
172
128
141
113
114
147
155
123
147
134
172
128
140
108
106
147
153
121
145
132
172
do
do. ._
do
do
do
do
do
do
do
do
173
107
95
463
156
114
114
134
122
145
174
483
155
112
99
128
116
138
183
135
103
483
148
106
104
122
115
128
183
138
103
489
147
107
116
126
120
133
do
do
do
do
do
do do
do
do
do
118
111
114
135
99
99
100
111
96
102
110
99
102
125
97
84
80
92
87
90
111
97
101
126
95
82
78
98
91
97
100
89
135
133
126
150
149
131
137
120
98
87
119
117
122
146
147
128
137
111
107
94
126
128
116
146
145
125
134
114
326
791
260
3 535
3 525
2 068
1 457
335
829
276
3,278
3,259
1,748
1,511
320
880
297
388
431
355
475
620
367
532
731
384
492
618
398
151
139*
159
168
168
167
201
233
177
222
265
189
20(
211
192
124
116
123
t 125
r 130
130
» 128
125
135
109
109
149
147
122
137
125
162
116
125
94
96
142
138
116
128
119
145
125
132
100
97
139
144
124
138
118
176
127
135
103
102
137
145
'132
140
M12
112
142
r
150
132
144
118
122
p 130
P 144
v 117
150
121
207
156
126
150
121
207
p
p
p
p
p
180
146
101
472
138
98
122
130
117
124
175
143
96
472
135
100
115
131
115
127
165
125
78
469
132
99
91
128
107
121
165
123
79
465
132
107
102
134
116
130
'159
70
'78
'464
138
113
134
'139
' 125
'140
182
144
93
475
139
113
123
138
124
139
p 194
114
98
97
106
96
103
100
99
93
99
114
103
100
105
96
115
108
108
94
99
115
110
106
108
98
126
114
113
92
96
108
109
107
102
99
118
103
92
82
85
117
115
116
108
98
* 108
96
111
97
101
119
120
r 124
120
98
r
107
98
109
95
T
100
r
120
108
110
135
90
97
99
108
94
136
131
122
147
150
120
128
116
103
89
134
132
121
145
150
123
130
118
99
94
136
136
119
144
152
124
131
121
91
87
120
116
113
138
146
122
130
85
110
101
137
101
'94
137
r
133
122
149
153
r
127
133
117
106
'98
146
140
125
' 154
r
157
' 126
' 132
131
2 176
2 137
793
1 344
380
684
241
2 246
2 228
977
1 251
359
624
246
2,581
2,569
1,219
1,350
348
727
259
3, 158
3 146
1,753
1 393
307
208
380
317
281
354
336
345
329
133
78
174
147
116
171
124
124
125
137
107
105
147
150
120
141
128
166
125
136
108
108
147
148
121
138
126
162
182
142
101
485
145
106
117
128
121
131
181
151
101
475
140
101
119
128
117
125
115
96
98
112
97
89
86
96
95
100
115
98
98
115
96
98
98
101
94
100
115
102
133
132
118
150
150
126
136
114
116
100
135
133
121
150
150
121
129
118
2 062
2 033
589
1 444
' 389
757
258
J> 2, 700
v 1,400
v 1, 300
INDUSTRIAL PRODUCTION
Federal Reserve Index of Physical Volume t
Unadjusted combined indext
Manufactures
_Durable manufactures
Primary metals
Steel
Primary nonferrous metals
Metal fabricating (incl. ordnance)
Fabricated metal products
Machinery
Nonelectrical machinery
Electrical machinery-. _
Transportation equipment
Autos..
Trucks
Aircraft and parts
Instruments and related products
Furniture and
fixtures
Lumber and products
Stone, clay, and glass products
Glass and pottery products
Miscellaneous manufactures
_ _
Nondurable manufactures - .
Food and beverage manufactures
Food manufactures
Meat products
_
Bakery products
BeveragesAlcoholic beverages
Tobacco manufactures
Textile-mill products
Cotton and synthetic fabrics
Apparel and allied products
Leather and products
Paper and allied products
Pulp and paper
Printing and publishing
Chemicals and allied products
Industrial chemicals- _ .
Petroleum and coal products
Petroleum refining
Rubber products
do
do
___ do.. do
-do__
do
do __
do
_ _ do__do
logs
r 134
116
144
' 150
124
131
r
94
r 124
r
145
' 126
T
122
' 189
155
81
74
470
r
137
r
123
111
r 136
T
118
136
123
117
118
127
'99
110
107
111
103
109
157
123
147
124
192
p 143
v 114
p 136
p 137
p 116
103
110
107
94
v 139
125
155
162
128
135
124
T 123
v 131
r
115
109
109
111
111
113
111
112
110
112
11C
Minerals _
do
113
' 111
f 114
62
58
61
74
71
76
r 75
68
Coal
do
77
68
57
63
75
70
134
133
131
P 138
137
137
135
134
136
134
129
130
133
Crude oil and natural gas
do
130
T
74
95
79
74
119
73
Metal mining _ _
. _ _
_do
108
76
'91
108
*
98
100
r
122
125
119
114
113
126
108
127
129
130
130
127
Stone and earth minerals
do
129
r
Revised.
p Preliminary.
* Estimates based on anticipated capital expenditures of business; those for the 1st quarter of 1955 appear on p. 5 of the December 1954 SURVEY.
^Revisions for 1952 for new plant and equipment appear on p. 10 of the March 1954 SURVEY. Revisions for 1952 and 1953 for farm income and marketings are on p. 24 of this issue;
for 1951, on p. 24 of the April 1954 SURVEY.
t Revised series. For a detailed description of the revision and monthly and annual data beginning 1947, see the December 1953 issue of the FEDERAL RESERVE BULLETIN.
SURVEY OF CUREENT BUSINESS
January 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-3
1954
January
February
March
April
May
June
July - August
Septem- October Novem- December
ber
ber
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION— Continued
Federal Reserve Index of Physical Volume 9— Con.
Adjusted combined index
Transportation equipment
Instruments and related products
Furniture and fixtures
Lumber and products
Stone, clay, and glass products
Miscellaneous manufactures
Nondurable manufactures
Food and be ve rape manufactures
126
125
125
123
123
125
124
123
123
124
'126
129
P130
131
146
122
159
130
152
136
184
127
142
113
156
126
146
133
172
127
141
111
155
126
143
130
169
126
139
109
151
123
141
130
163
125
135
103
147
120
138
125
163
125
134
103
147
119
138
125
163
126
136
106
148
121
138
124
163
125
135
108
147
122
139
124
170
124
134
103
147
122
141
125
173
125
135
105
148
124
144
125
181
126
136
' 105
148
121
147
125
'189
'128
'139
'110
'149
'124
148
'123
'195
131
143
118
155
126
149
122
199
P132
v 145
p 120
P156
P123
p 144
P120
p 192
do
do
do
do
do
do __
180
155
109
115
132
138
182
154
106
110
129
136
185
148
105
115
125
130
179
147
103
120
130
132
173
144
104
116
130
130
174
139
103
114
128
127
178
138
102
120
130
128
170
135
104
108
129
131
170
136
106
96
131
130
166
135
109
97
132
133
161
137
109
116
134
132
'164
137
'109
'128
'132
'132
184
138
109
124
137
132
v 198
P142
P109
115
108
108
95
101
91
112
103
112
90
101
93
113
105
100
91
104
94
114
106
98
91
106
94
114
106
103
91
108
93
115
107
103
94
109
94
117
110
108
95
107
94
116
108
107
93
106
95
114
105
101
95
102
100
114
105
99
94
103
96
115
105
102
93
101
'91
'117
105
102
101
104
94
118
105
P119
132
121
145
129
118
125
129
145
128
116
126
120
143
124
112
129
119
146
126
110
131
119
146
122
113
133
120
146
124
113
137
120
148
125
119
136
121
148
124
120
133
121
148
122
97
135
121
14£
121
'98
137
121
r 150
' 125
116
138
'121
150
'124
123
"136
120
151
127
122
111
70
131
103
125
113
69
133
101
127
113
70
134
103
119
113
68
135
101
124
112
62
137
96
124
109
58
137
78
120
111
65
134
91
121
114
69
136
99
122
112
70
133
91
125
109
68
130
83
121
108
67
129
' 82
121
109
70
130
78
121
112
69
134
P116
p 73
P138
- do
do
Textile-mill products
Apparel and allied products
Leather and products
do
do
do
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products .
Rubber products
Minerals
Coal
Crude oil and natural gas
Metal mining
Stone and earth minerals
129
do
do __
do -_
do _ _
do
do _
do
do
1947-49=100
Manufactures
Durable manufactures
- Primary metals
Metal fabricating (incl. ordnance)
Fabricated metal products
Machinery
Nonelectrical machinery
Electrical machinery
do
_ do._.
do
do ...
do
_
do
do
do
do
do
_
P137
P134
102
108
95
P121
»131
CONSUMER DURABLES OUTPUT
Unadjusted, total output*
Major consumer durables
Autos
Major household goods
_
Furniture and floor coverings
Appliances and heaters
Radio and television sets
Other consumer durables
1947-49=100
do ..
do
do __
do
do
do
do
no
113
107
120
106
96
230
103
103
106
107
106
104
92
15f
96
112
121
135
109
99
98
173
92
117
127
138
119
103
117
170
95
119
129
142
120
102
117
182
94
119
131
151
116
97
116
172
92
116
126
146
110
92
112
155
92
116
125
143
112
93
112
165
94
102
107
125
92
89
88
116
90
113
121
123
121
102
101
234
94
108
' 111
81
'r 139
108
'122
279
101
109
'111
70
'150
111
124
338
103
130
143
144
144
110
118
324
101
p
P
P
p
Adjusted, total output*
Major consumer durables
__
Autos _
Major household goods
Furniture and floor coverings _
Appliances and heaters. __ __
Radio and television sets
Other consumer durables. ...
do
__ . _ _ _ d o _ _ _
do
do
do
.
_do -do
_ .. do
112
117
127
110
102
93
185
101
109
114
127
104
99
95
145
97
112
119
133
108
98
104
148
95
113
121
134
112
119
133
109
99
105
151
94
116
126
1-39
116
97
114
178
93
119
130
145
120
96
117
198
93
119
128
136
124
96
110
246
96
117
127
127
128
102
115
245
93
115
125
121
131
10(
109
270
91
107
111
87
134
r
107
' 112
278
98
104
106
78
133
107
' 111
268
98
12f
13f
144
132
p
p
P
p
115
257
99
p 101
no
99
111
142
96
ior
136
152
174
136
p 99
133
147
166
133
BUSINESS SALES AND INVENTORIES§
Manufacturing and trade sales (adj.), total t
Manufacturing, totalf
Durable-goods industries
Nondurable-goods industries.
mil. of dol_.
47, 518
47, 209
46, 450
46, 714
47, 094
47, 636
46,914
47, 779
47, 417
46,717
' 46, £85 ' 46, 420
48, 233
do
do
_ do _
24, 256
11,867
12, 389
24, 12f
11,576
12, 550
23, 902
11,580
12, 322
23, 620
11,278
12, 342
24, 064
11,385
12, 679
24,418
11,502
12,916
23, 978
11,344
12, 634
24, 260
11, 395
12, 865
24, 055
11,287
12, 768
23, 482
10, 952
12, 530
r
24, 596
11,634
12, 962
do
... do __
do
9,158
2,994
6,164
9,151
3,011
6, 140
8,92P
2, 859
6, 067
9,122
2,894
6,228
9,130
2,870
6, 260
8, 976
2,822
6, 154
8,892
2,836
6, 056
9,080
2,930
6, 150
9,090
2,951
6, 139
9, 085
2,942
6,143
9,159
2, 865
6 294
do
do
do
14, 104
5,005
9,099
13, 932
4, 626
9,306
13, 622
4, 436
9, 18(
13, 972
4, 745
9,228
13, 900
4, 858
9, 042
14, 242
4,882
9, 360
14,044
4, 730
9,313
14, 439
5,024
9,415
14, 272
4,911
9,361
14, 150
4,770
9,380
14,214
4 798
9,417
-
Wholesale trade, total!
Durable-goods establishments.
__
Nondurable-goods establishments
Retail trade, total
_
Durable-goods stores
Nondurable-goods stores
Manufacturing and trade inventories, book value, end
of month (adjusted), totalf
mil. of dcl_.
Manufacturing, totalf
. _ ._
Durable-goods industries
Nondurable-goods industries
Wholesale trade, total t-. _ __
Durable-goods establishments.
Nondurable-goods establishments
_ do
do
do
..
_
do _.
do
do
23 612 T 23 337
' 10,933 ' 10, 734
12, 67< ' 12, 603
' 9 012
' 2, 833
' 6 179
9, 276
2,922
6, 354
14,071
4 689
9,382
14, 361
4,948
9,412
77, 645
81,276
81,072
80, 688
80, 390
80, 093
79, 516
79, 372
79, 000
78, 349
78, 163
77, 790
' 77, 504
46, 909
26, 975
19, 934
46, 722
26, 752
19, 970
46, 382
26, 526
19, 856
46,115
26, 168
19, 947
45, 774
25, 900
19, 874
45, 183
25, 345
19,838
44, 798
24, 926
19, 872
44, 535
24, 689
19 846
44, 194
24, 383
19,811
43, 929
24, 232
19, 697
43, 668
24, 120
19 548
' 43, 841
43, 811
' 24, 370 24, 390
' 19 471 19 421
11,930
6,127
5, 803
11,689
5,900
5, 789
11,785
5, 866
5,919
11,854
5,841
6,013
11,756
5,799
5,957
11,643
5,728
5, 915
11,770
5, 800
5,970
11,865
5, 768
6 097
11,752
5,763
5,989
11, 783
5,841
5, 942
11,697 ' 11,727
5,816
5, 868
5,881 r 5 859
11,718
5 857
5 861
22, 421
22, 661
22, 437
22, 425
22, 804
22, 563
22, 521
22, 690
21, 996
22, 600
22, 403
22, 451
Retail trade, total t
-- do
22 116
9 974
10, 584
10, 574
10, 668
Durable-goods stores
do
10, 486
10,412
10, 502
10, 688
10 234
10 383
10 190
10 286
10 065
11.863
Nondurable-goods stores _ __ _ _
do
12. 302
11,837
11.993
12. 022
12. 278
12.077
11.833
12. 051
12. 191
12. 217
12. 213
12. 165
' Revised.
p Preliminary.
9 See note marked "t" on p. S-2.
*New scries. Compiled by the Board of Governors of the Federal Reserve System. For description of the index and back figures, see the May 1954 FEDERAL RESERVE BULLETIN and subsequent issues.
§The term "business" here includes only manufacturing and trade. Business inventories as shown on p. S-l cover data for all types of producers, both farm and nonfarm. Unadjusted
data for manufacturing are shown on p. S-4; those for retail and wholesale trade, on pp. S-9 and S-10.
t Revised series. Effective with the December 1953 SURVEY, the data reflect adjustments to more recent benchmarks; all revisions prior to 1953 are available upon request (most of the
data published in the 1953 issue of BUSINESS STATISTICS are now obsolete).
SUEVEY OF CUREENT BUSINESS
S-4
January 1955
1
953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
IS 54
January
February
March
April
May
June
July
DecemOctober NovemAugust September
ber
ber
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Sales :f
Value (unadjusted), total
mil. of dol
Durable-goods industries
- do
Nondurable-goods industries
do
Value (adjusted) total
Durable-goods industries, total
Primary metal
Fabricated metal products
Electrical machinery and equipment
Machinery except electrical
Motor vehicles and equipment
Transportation equipment n e s
"Furniture and
fixtures
Lumber products except furniture
Stone, clay, and glass products
Professional and scientific instruments
Other industries including ordnance
Nondurable-goods industries, total
23, 792
11,499
12,293
23, 929
11,615
12,314
do
24, 256
do_do. - .
do
do
do
do- --
11,867
1,874
1,150
1.324
2,068
1,918
do
do
do
do
do
do
do..-
r
24, 537
11, 153
13, 384
24,620
11,586
13 034
' 23, 337
24 596
24, 384
11, 804
12 580
22 266
10, 252
12 014
23, 943
10, 855
13, 088
24, 406
11,109
13, 297
23, 978
24, 260
24, 055
23, 482
"23,612
11,344
1,505
1,156
1,291
1,862
2,083
11,395
1,567
1,180
1,316
1,901
1,974
11,287
1,528
1,184
1,318
1,920
1,800
10, 952
,468
,144
276
,838
, 774
' 10, 933 ' 10, 734
1,525
1,538
1.120
'1,082
'1 238
1
333
r
T
1,866
1, 778
1, 523
* 1,413
971
300
693
547
356
541
940
317
680
601
354
555
914
334
678
599
364
568
1,061
300
684
608
354
530
949
311
688
597
331
576
948
318
740
625
363
572
12, 679
12,916
12, 634
12, 865
12,768
12, 530
12, 679
12 603
12 962
3,802
628
309
1,060
806
3,977
677
305
1,073
866
3,827
672
304
1,115
826
3,844
649
299
1,064
818
3,748
682
301
1,040
938
3, 785
582
306
1, 023
909
3,779
609
311
1,054
903
' 3, 742
'627
'288
'1,017
'943
3,881
592
321
1,048
901
23, 062
10, 870
12, 192
22, 970
10, 968
12.002
25, 300
12, 208
13,092
24, 490
11,814
12, 676
23, 263
11,165
12,098
24,126
23, 902
23, 620
24, 064
24, 418
11, 576
1,645
1,076
1.349
1,902
2, 046
11, 580
1,609
1,176
1,328
1, 959
2,101
11,278
1,580
1,132
1,269
1.968
1,962
11,385
1,528
1,173
1,355
1,941
1,981
11, 502
1,575
1,223
1,305
1,939
2,052
925
334
723
583
402
566
947
345
731
540
423
572
1,005
325
659
517
364
537
942
309
659
573
348
536
931
317
688
569
353
549
12,389
12, 550
12,322
12,342
3,802
626
292
992
857
3,681
648
291
1,035
825
r
r
' 1 086
'320
r
755
r
615
r 355
'554
r
11,634
1,650
1 158
1 271
1 915
1 987
1 029
299
777
608
359
581
Food and kindred products
Beverages
Tobacco manufactures
Textile-mill products
Apparel and related products
do
do
do
do
do
3,771
635
339
1, 006
835
3,863
572
304
1,040
873
Leather and leather products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber products
do
do
do
do
do
do
251
709
778
1,606
2, 113
346
267
701
774
1,601
2,186
369
259
680
748
1,569
2,149
348
274
676
832
1,590
2,139
351
290
730
776
1,692
2,198
388
278
733
750
1,720
2,162
375
297
714
769
1,664
2,089
357
355
766
767
1,724
2,202
377
377
753
746
1,675
2, 134
374
349
742
751
1.686
2,060
337
331
742
801
1, 735
2,080
334
'320
'735
'814
'1,710
'2,075
332
334
715
799
1,786
2,253
do
do
do
46, 532
26, 549
19, 983
46, 947
26, 697
20. 250
46. 772
26, 598
20,174
46, 355
26, 235
20,120
45, 959
26, 042
19,917
45, 351
25, 629
19,722
44, 974
25, 336
19, 638
44, 684
24, 977
19, 707
44, 157
24, 460
19, 697
43, 548
24, 038
19, 510
43, 236
23, 786
19, 450
' 43, 416
24, 044
' 19, 372
43,508
24,013
19, 495
do
do-do
16, 377
13,149
17, 006
16,419
13, 304
17, 224
16,023
13,512
17, 237
15,783
13,285
17,287
15,371
13,311
17, 277
14,930
13,212
17, 209
14. 826
12.889
17.259
14.782
12, 672
17, 230
14, 922
12, 407
16, 828
14, 779
12,214
16. 555
14, 684
12, 263
16. 289
' 14, 680
' 12, 501
16, 235
14, 789
12,500
16,219
do -
46, 909
46, 722
46, 382
46,115
45, 774
45, 183
44, 798
44, 535
44, 194
43, 929
43, 668
' 43, 841
43, 811
do
do
do ...
do
do -.
do
26, 975
3,488
3,145
3,489
5, 735
3,377
26, 752
3,425
3,131
3,440
5,647
3.396
26, 526
3,388
3,012
3,342
5,551
3,482
26, 168
3,344
2,948
3,326
5,512
3,380
25, 900
3,354
2,917
3,248
5,416
3,296
25, 345
3.226
2,837
3.167
5,297
3,189
24, 926
3,153
2,768
3,103
5,222
3,098
24, 689
3.071
2,831
3,062
5, 148
3,021
24, 383
3,107
2,773
3,049
5.097
2,899
24, 232
3,082
2,759
3,041
5,101
2.790
24,120
3,053
2,769
2,983
5,038
2,802
' 24, 370
'3,069
' 2, 765
'3,007
' 4, 979
'3,020
24,390
3,108
2, 815
2,993
4,970
3,082
do -do
do.
do
do - do
2,700
670
1,090
878
882
1, 521
2, 769
642
1,033
890
882
1,497
2,784
661
1,022
907
895
1,482
2,732
666
1,015
917
883
1,445
2, 753
665
1,025
906
874
1,446
2,690
665
1,010
916
883
1, 465
2, 652
661
1,003
919
888
1,459
2,691
650
981
895
874
1,465
2,622
664
958
883
862
1,469
2,695
656
944
866
850
1,448
2, 736
661
952
872
850
1,404
'2,815
'664
'970
'872
'837
'1,372
2,761
653
995
856
821
1,336
' 19,471
19, 421
Inventories, end of month :f
Book value (unadjusted) total
Durable- goods industries
Nondurable-goods ind ustries
By stages of fabrication:!
Purchased materials
Goods in process
Finished goods
Book value (adjusted) total
Durable-goods industries, total
Primarv metal
Fabricated metal products
Electrical machinery and equipment
Machinery, except electrical
Motor vehicles and equipment
Transportation equipment, n. e. s
Furniture and
fixtures
Lumber products, except furniture
Stone, clay, and glass products
Professional and scientific instruments
Other industries including ordnance
T
do---
19, 934
19, 970
19, 856
19, 947
19, 874
19, 838
19, 872
19. 846
19,811
19, 697
19, 548
_ do do
do
do -do
3,511
1,129
1,789
2, 543
1, 845
3, 525
1, 155
1,812
2,513
1,901
3, 524
1,162
1,842
2,464
1,872
3,589
1,161
1,840
2,455
1,863
3,598
1, 196
1,833
2,442
1,791
3,596
1,188
1, 865
2,412
1,762
3,544
1,195
1,877
2,412
1,792
3,492
1,209
1,887
2,422
1,762
3,468
1,222
1,930
2, 376
1,760
3, 437
1, 198
1,912
2, 383
1, 766
3, 416
1, 167
1,872
2,361
1,741
'3,412
' 1, 138
' 1, 856
' 2, 356
' 1, 690
3,460
1,105
1,854
2, 377
1,636
leather and leather products
_ _ . do
Paper and allied products
do
Printing and publishing
do
Chemicals and allied products... __ _ . do...
Petroleum and coal products
do Rubber products
do
570
1, 050
776
3,107
2,747
867
582
1,044
752
3, 093
2, 725
868
581
1,034
769
3,067
2,697
844
573
1,048
762
3,080
2,719
857
573
1,050
767
3,072
2,703
849
580
1 047
3, 061
2,738
812
581
1,061
756
3,053
2,791
810
595
1,046
748
3, 085
2,771
829
580
1,021
734
3,146
2,790
'784
567
1 007
735
3, 147
2, 784
761
572
1 026
737
3 092
2 760
804
'573
' 1,050
' 715
'3,080
' 2, 763
838
586
1,049
729
3,074
2,713
20, 955
8, 930
12, 025
21,448
9,347
12, 101
20, 882
8.687
12. 195
21, 526
9,495
12,031
23, 857
10,779
13, 078
22, 944
10, 290
12, 654
21, 708
9,472
12, 236
23, 099
10, 297
12, 802
21, 725
9,712
12. 013
22 904
9 918
12. 986
25, 132
11 696
13, 436
' 24, 781
'11,464
'13,317
24, 023
11,102
12,921
21, 594
22, 026
20, 749
22, 016
22, 859
23, 017
22, 819
22, 886
22, 551
22. 560
24, 463
' 24, 054
24,481
' 11,547
' 1,612
' 1 161
' 1,142
' 1 774
11, 75.5
1,881
1 329
1,420
1 79C)
Nondurable-goods industries, total
Food and kindred products
Beverages
Tobacco manufactures
Textile-mill products
Apparel and related products
_
New orders, net:f
Unadjusted, total
.. .
Durable-goods industries
Nondurable-goods industries Adjusted, total
do
do
do do _.
Durable-goods industries, total
do
Primary metal.. _..
_ _
do
Fabricated metal products
do
Electrical machinery and equipment
do
Machinery, except electrical
do
Transportation equipment, including motor
vehicles and parts
mil of dol
Other industries, including ordnance
do
111
9,631
1, 666
1,089
880
1,800
9, 567
1, 450
1,045
949
1,613
8,475
1,205
746
987
1,378
9,629
1,278
932
1,264
1,599
10, 206
1,269
956
948
1,677
10, 021
1, 353
954
1,049
1,705
10, 050
1,273
918
1,000
1, 657
9, 985
1. 450
1 153
905
1 , 793
9 700
1, 212
959
1,002
1 612
9 978
1 417
1 079
1 009
1 655
11,699
1, 529
970
1, 400
1,758
2, 084
2,106
2,289
2,221
2,198
1,961
2,255
2,301
2,922
2,434
2,683
2,277
2,820
2,382
2,242
2,442
2 467
2.448
2 272
2,546
3, 143
2,899
'3,290
' 2, 568
2,669
2,657
11,963
12, 459
12, 274
12, 387
12, 653
12, 996
12, 769
12, 901
12, 851
12, 582
12, 764
' 12, 507
12, 726
2, 318
2,691
Industries with unfilled orders?
do
2, 631
2,862
2 925
2 830
2 999
3 030
2 988
9,645
9.643
Industries without unfilled ordersl . .. tio -..
10. 071
9.823
9.525
9.768
9. 852
9.913
9.739
r
Revised.
f Revised series. See corresponding note on p. S-3.
JRevised data beginning December 1949 appear on p. 22 of the June 1954 SURVEY.
9 Includes textiles, leather, paper, and printing and publishing industries; unfilled orders for other nondurable-goods industries are zero.
IFor these industries (food, beverages, tobacco, apparel, petroleum, chemicals, and rubber), sales are considered equal to new orders.
2 917<
9. 665!
3 013
9. 751
Nondurable-goods industries, total-... . .
do
' 2 790 2 660
10. 066
'9.717
. _
SUKVEY OF CURRENT BUSINESS
January 1055
12 53
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-5
1954
January
February
March
April
June
May
August
July
Septem- October Novem- December
ber
ber
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
J
!
1
1
60, 789
58, 227
5 355
4,798
10.687
8,545
58, 308
55, 959
5 108
4 643
10,317
8 156
56, 128
53, 776
4 729
4 435
10, 059
7 770
54. 684
52, 303
4 448
4 201
9,962
7 435
53, 241
50, 874
4 202
3 994
9,489
7 083
51,695
49, 350
3 964
3 823
9. 261
6 828
50, 140
47, 657
3 667
3 629
8,952
6 523
48, 855
46, 150
3 422
3 637
8,627
6 301
48,
45,
3
3
8
6
314
610
298
530
516
186
47, 275
44, 673
3 296
3 374
8, 236
6 119
48, 001
45. 260
3 296
3 256
8. 275
5 928
r
23, 726
5,116
23, 044
4,691
22, 322
4,461
21, 740
4, 517
21 658
4,448
21 188
4, 286
20, 789
4, 097
20, 184
3. 979
19 906
4,174
19 406
r
4.242
20 210
4,295
,
do
2.562
2, 349
2,352
2, 381
2,367
2,345
2,483
2, 705
2.704
2, 602
2,741
number. .
7,269
8, 915
9,543
8,533
10, 514
10, 272
9,280
9,748
9, 409
9.041
815
66
97
175
389
88
813
64
89
193
382
85
867
60
86
192
450
79
926
74
109
207
449
87
1 102
87
143
198
551
123
975
66
92
200
535
82
943
81
111
200
460
91
965
81
132
208
455
89
856
80
95
165
417
99
36, 795
2,687
4,621
13, 568
11, 083
4,836
43, 754
1,871
4 154
23, 731
9,757
4,241
29, 592
3, 134
3 166
11,431
8, 623
3,238
47, 774
4,341
4 082
23, 043
11, 770
4,538
57, 280
3, 506
7 255
15,359
26, 043
5,117
42,512
1,648
3 692
20, 568
12, 030
4.574
38, 494
2,961
3 674
15, 621
11, 739
4,499
41,613
2, 045
4 514
18, 454
11,722
4 878
32, 230
2 524
4 958
< "nfilled orders, end of month (unadj.), totalf mil. of dol
Durable-goods
industries, total. .-do
J > rimary metal
do
Fabricated metal products
do
Electrical machinerv and equipment
do
ATachinerv except electrical
do
Transportation equipment, including motor
vehicles and parts
mil. of dol
Other industries, including ordnance
do_ Vomlurable-goods industries, total 9
r
48, 245
45, 571
r 3 3,%
r
3 136
r
r
8.094
5 836
20 992
r
4, 157
r
47, 648
45, 087
3 533
3 119
8, 053
5 714
20, 636
4,032
2, 674
2,561
9, 256
9,852
9, 735
912
80
100
187
451
91
819
59
88
153
406
113
871
68
109
189
414
91
933
68
110
179
490
86
32, 582
2,381
2 386
12, 388
11, 225
36, 381
2 290
5 584
11 262
29, 000
1 952
4 733
7 547
35, 067
4, 065
6 859
11,879
11,845
10, 466
4.202
5 366
2 923
5,578
BUSINESS INCORPORATIONS^
New incorporations (48 States)
_
_
INDUSTRIAL AND COMMERCIAL FAILURES^
Failure*^ total
number
Commercial service
do
Construction
.
_ . _ _ _ . . . . d o .Manufacturing and mining
do
Retail trade
- - - - - - . . ... -do .
Wholesale trade
do
Liabilities,
total
~_- - __.
Commercial service
Construction
Manufacturing and mining
Retail trade
_ . _ . ..
Wholesale trade
thous. ofdol.
do
do
do
..
do _
do
9,986
9,622
5, 140
8,099
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products§
Crops
- _ _
Food grains
Feed grains and hay
Tobacco
-_..
1910-14=100..
249
254
259
258
256
257
258
248
247
251
246
242
244
239
.
do. _.
do
do _
do
234
229
195
433
238
230
205
427
240
237
239
240
249
244
248
250
247
243
244
241
do
do
do do
269
205
218
263
260
237
224
269
254
222
271
268
do
do
do
do
263
267
288
224
269
285
282
218
260
270
_. __.
.
Cotton
_ _
Fruit
Commercial vegetables, fresh market
Oil-bearing crops
_
Livestock and products
Meat animals
Dairy products
Poultrv and eggs
... __
_.
Prices paid:
AJ1 commodities and services
do
Family living items
do
Production items
do
All commodities and services, interest, taxes, and
wage rates*
1910-14 — 100
Parity ratio® J
do
233
207
420
238
208
443
234
208
443
227
207
446
216
205
445
225
202
446
228
207
430
233
210
444
235
204
441
239
199
438
239
202
430
258
210
233
269
263
212
246
275
267
217
225
283
272
215
279
286
274
240
200
283
272
228
243
286
288
235
223
294
292
248
170
276
293
218
191
275
281
206
237
277
276
207
216
279
277
309
274
213
277
315
267
208
271
316
257
188
271
333
237
178
267
331
230
168
251
299
229
168
247
286
237
171
251
287
245
178
245
°77
253
162
242
267
9
63
153
243
266
266
159
237
257
264
156
263
271
254
264
271
255
264
272
255
265
273
256
267
276
256
265
276
252
263
277
247
264
277
250
°63
273
51
262
273
250
262
249
277
278
282
282
283
283
284
282
280
282
280
279
279
261
272
250
079
90
91
92
91
90
91
91
88
88
89
88
87
87
86
208.9
209.1
209.5
208.9
208.3
208.1
208.7
209.0
209.7
209.0
208. 2
207.6
207.4
259
270
247
r
236
208
443
9
279
OC 1
RETAIL PRICES
All commodities (U. S. Department of Commerce
index)
1935-39=100.Consumer price index (U. S. Department of Labor):
All items
1947-49=100
Apparel
Food
Dairy products. _
Fruits and vegetables
Meats, poultry, and
Housing
Gas and electricity
Housefurnishings
Rent
_
.
.
__
fish
- ...
.
-
115.0
114.9
115.2
115.0
114.8
114.6
115.0
115. 1
115.2
115 0
114 7
114 5
i 114.6
do
do
.do
do
do
105.5
112.0
110.5
107.4
107. 0
105.3
112.3
110.3
109.2
107.8
104.9
113 1
109. 7
110.8
110.2
104.7
112.6
109.0
108.0
109.7
104.3
112. 1
108.0
107.8
109.5
104.1
112 4
104.6
110.0
110 5
104.2
113 3
103.5
114.6
111 0
104 2
113 8
102.9
117.1
111 1
104
114
104
120
109
0
6
3
1
7
103
113
105
114
107
7
9
1
7
6
104
112
105
110
106
104 6
111 8
106 7
111 1
103 9
104.6
111. 1
106.6
109.6
103.5
do
do
do
do
118.9
107.3
108.3
127.3
118.9
107.2
108.1
127.6
118 8
107.1
107.2
127 8
118 9
107.5
107.2
127 9
119 0
107.6
107.2
128 0
118 5
107.6
106 1
128 2
118 9
107.7
105 9
128 3
118 9
107.6
105 8
128 3
119
107
105
128
0
8
7
5
119
107
105
128
2
8
4
6
119 5
107 9
106 0
128 8
119
108
105
129
119
108
105
129
125.1
113 0
106.4
129.1
120.1
125.1
112 7
106.4
128.9
120.1
125 2
113 3
107 0
126.7
120.3
125 5
113 4
106 6
126 6
120.2
125 7
113 5
106 5
126 4
120.1
125 9
113 4
106 9
125 0
120.1
124.1
124.4
123.6
123.3
Medical care
---do
124.9
123.7
114.1
113.4
113.9
113.6
Personal care
do
112 9
113.7
108.2
108.9
Reading and recreation
...
do
108.9
108.0
106. 5
108.7
Transportation _
... ._
do
128.9
129.4
130.5
129.0
129.1
130.1
120.2
120.2
120.3
120.1
120.2
120.3
Other goods and services
do
1
* Revised.
Index on base previously used (1935-39=100) is 191.6.
t See corresponding note on p. S-3.
9 See corresponding note on p. S-4.
a" Data are from Dun and Bradstreet, Inc.
§ Revised beginning 1910 to incorporate revisions in the component price series and to reflect changes in the basic
p. 23 of the April 1954 SURVEY.
J Revisions for 1937-53 for prices paid and 1910-53 for parity ratio appear on p. 24 of the April 1954 SURVEY.
0 Ratio of prices received to prices paid (including interest, taxes, and wage rates).
3
4
8
5
7
5
5
6
0
5
7
4
2
126 1
113 8 _ _ . - »
106 8
127 6
120.0
weights; revised annual data for 1910-53 for prices received appear on
SUKVEY OF CURRENT BUSINESS
S-6
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 1955
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
COMMODITY PRICES—Continued
WHOLESALE PRICESd"
U.S. Department of Labor indexes:
All commodities
109.8
110.1
110.9
110.5
110.5
111.0
110.9
110.0
110.4
110.5
110.0
109.7
' 110. 0
109.5
93.7
94.2
89.3
78.4
94.4
89.8
90.6
83.9
97.8
91.2
91.3
91.8
97.7
89.7
91.6
91.3
98.4
89.6
93.0
92.4
99.4
97.4
92.9
94.9
97.9
104.4
91.2
93.0
94.8
96.6
86.5
87.7
96.2
110.9
88.1
83.2
95.8
108.3
91.2
83.4
93.6
99.8
93.6
80.7
93.1
101.9
92.9
77.5
'93.2
103.2
93.5
76.4
90.0
96.9
92.5
74.0
103.8
112.6
113.9
104.3
112.2
111.3
106.2
112.4
109.4
104.8
112.7
107.4
105.3
112.6
106.1
105.9
113.2
103.0
106.8
113.3
101.7
105.0
113.5
102.4
106.5
114.0
105.1
106 4
113.2
105.9
105.5
113.8
106.6
103.7
114.5
108.7
103.8
116. 5
108.8
103.4
116.8
108.2
104.7
86.2
103.9
89.7
103.8
96.4
103.0
92.9
103.0
92.8
103.3
94.3
104.5
98.3
104.7
92.3
104.7
94.1
104.8
92.0
105.0
92.0
105.5
85.8
' 105. 5
86.3
105.6
85.2
114.5
114.6
114.6
114.4
114.2
114.5
114.5
114.2
114.3
114.4
114.4
114.5
' 114. 8
114.9
do
do
_ do -
107.2
119.2
93.5
107.1
118.6
93.8
107.2
118.4
93.9
107.5
118.4
93.9
107.4
117.9
93.9
107.2
117.4
94.0
107.1
117.3
94.0
106 8
117.0
94.0
106.7
117.1
94.0
106 8
117.4
94.0
106.8
117.4
94.0
106 9
117.6
'93.6
107.0
'117.7
' 93.6
107.0
117.4
93.6
do
do
do _ _
58.0
112.9
112.7
58.6
113.9
112.7
61.2
114.0
112.8
63.5
114.0
112.8
60.5
114.0
112.8
59.8
114.1
112.8
59.3
114.0
112.8
55 7
111.6
112.8
52.0
112.1
112.8
53 5
112.1
112.8
54.0
112.3
112.8
56 5
112.1
112.8
57.8
112.2
112.8
58.9
113.3
112.8
do _
do
do
do
_do__
111.2
112.5
99.6
106. 3
116.3
111.1
112.5
100.7
109.6
114.9
110.8
111.9
100.7
111.8
114.
110.
110.
101.
113.
113.
109.2
107.9
102.9
111.5
111.5
108.6
104.1
101.8
112.3
112.1
108. 2
104.6
101.8
109.0
111.7
107.8
104.7
101.8
107.8
110.9
106.2
104.9
101.8
105.4
108.2
106.9
105.2
102.4
105.4
109.3
106.9
105.5
101.2
106.0
109.4
106.9
105.1
101.8
105.8
109.3
' 107. 4
105.1
' 103. 0
' 107. 3
109.5
107.8
105.2
103.0
107.3
110.4
Furniture, other household durables
do
Appliances, household
_ -do
Furniture, household
__ . do _
Radios
do
Television sets
__ _ do__
114.9
109.0
114.1
94 3
74.2
115.0
109.1
114.1
94.3
74.0
115.
109.
114.
115.1
109.7
113.9
96 1
73.8
115.0
109.5
113.7
95 7
73.8
115.6
109.9
113.6
95 7
73.8
115.5
109.9
113.5
95 7
73.8
115.4
109.8
113.1
95 6
70.6
115.3
109.7
112.8
95.6
70.3
115.3
109.7
112.9
95 4
68.5
115.3
109.4
112.8
95.4
68.7
115.6
109.5
112.8
95 4
68.7
' 115.6
' 109. 1
112.9
95 4
69.2
115.7
109.4
112.9
95.4
69.2
Hides skins and leather products
Footwear
Hides and skins
Leather
do
do
do
do
97.1
111.8
64.3
90.4
95.6
111.8
57.7
88.7
111.
56.8
88.1
94.9
111.9
55.4
87.4
94.7
111.9
56.0
86.3
94.6
111.9
56.5
86.0
96.0
111.9
62.5
87.6
95 6
111.9
60.6
87.4
94.9
111.8
58.2
86.5
94.0
111.8
55.8
84.4
93.0
111.8
51.5
82.9
92.4
111.8
49.5
82.1
Lumber and wood products
Lumber
do
do
117.3
116.3
117.4
116.4
117.0
115.
116.8
115.5
116.7
115.6
116.2
115.3
116.1
115.0
116.3
115 5
119.1
118.6
119.1
118.7
119.3
119.0
Machinery and motive products
.-do _ - Agricultural machinery and equip
do
Construction machinery and equip __ _do
Electrical machinery and equipment
do
Motor vehicles
do
124.2
122.5
131.1
126.6
118.5
124.3
122.5
131. 1
126.8
118.5
124.
122.
131.
126.
118.
124.5
123.0
131.5
126.8
118.9
124. 5
122.3
131.7
126.8
118.9
124.4
122.3
131. 6
126.5
118.9
124.4
122. 6
131.5
126.0
118.9
124.3
122.3
131.5
125.9
118.9
124.3
122.3
131.5
125.8
118.9
124.3
122.1
131.5
125.7
118.9
Metals and metal products
Heating equipment
Iron and steel
Nonferrous metals
127.9
115.8
133.6
122.3
127.5
115.5
132.8
122.1
127.
115.
132.
121.
126.2
114.8
131.0
119.8
126.3
114.4
130.6
121.2
126.8
114.5
131. 1
123.4
127.1
113.9
131.8
123.6
127.1
113.8
131.8
123.7
128.0
114.0
133.6
124.2
do
do
do
do
120.8
132.1
117.4
122. 1
120.8
132.1
117.2
122.1
120.
131.
117.
122.1
121.0
131.9
117.6
122.1
121.0
132.0
117.3
122.1
120.8
132.0
117.3
122.1
119.3
132.0
117.3
122.1
119.1
132.0
117.5
122.1
do
do
117.3
126.8
117.1
126.8
117.0
126.8
117.1
126.8
116.6
126.8
116.3
126.8
115.8
126.5
do
do
124.3
130. 1
124.8
130. 1
124.8
130.3
124.6
130.3
124.9
130.3
125.0
129.3
96 2
98.7
91.6
95.8
97.9
90.9
96.1
99. 1
90.4
95.3
98.8
88.8
95.0
98.6
88.5
136.5
85.2
111.5
139.3
85.5
112.1
142. 1
85.4
111.0
135.8
85.4
109.0
118. 1
114.9
124.0
118. 1
114.9
124.0
118.2
115.0
124.0
93.2
114.0
100.1
113.2
91.1
87.0
89.3
90.8
87.0
89.0
1947-49=100--
Farm products
Fruits and vegetables fresh and dried
Grains
livestock and live poultry
-- do
do
do
do _
Foods processed
do
Cereal and bakery products
- -do __
Dairy products and ice cream
- do__
Fruits and vegetables, canned and frozen
1947-49 = 100-Meats poultry and
fish
do
Commodities other
foods
than farm
products and
1947-49 = 100.-
Chemicals and allied products
Chemicals industrial
Drugs pharmaceuticals, cosmetics
Fats and oils inedible
Fertilizer materials
Prepared paint
Fuel, power, and lighting materials
Coal
Electricity
Gas
Petroleum and products
do
_..do do
- - do
-
Nonrnetallic minerals, structural
C lay products
Concrete products
Gypsum products
Pulp, paper, and allied products
Paper
--
Rubber and products
Tires and tubes
Textile products and apparel
Apparel
_
_.Cotton products
_ _ - do - _ .- __do
do
Silk products
Synthetic textiles .
Wool products
do
do. do
Tobacco mfrs. and bottled beverages
Beverages, alcoholic
_ _
Cigarettes
Miscellaneous
Toys, sporting goods
PURCHASING
do
___do
do
do
do
-
96
73.
95.
r
92. 8
111.7
52.7
'82.0
91.8
111.6
47.4
81.5
119.8
119.5
119.9
119.6
120.0
119.8
124.4
121.9
131.6
125.6
118.9
124.3
122.0
131.6
125.2
118.6
' 125. 3
' 121. 3
131.8
'126.7
' 121. 0
125.6
121.3
131.9
126.7
121.6
128.6
114.1
133. 8
125.1
129.1
114.1
134.1
126.2
129.7
114.3
135.0
127.4
129.9
114.3
135.5
127.2
129.8
114.3
135.0
127.6
120.4
132.0
117.7
122.1
120.5
132.3
117.9
122.1
121.7
135.4
117.8
122.1
121.9
135.4
117.8
122.1
121.8
135. 4
117.4
122.1
121.8
135.4
117.4
122.1
115.8
126.5
116.2
126.5
116.3
126.5
116.3
126.5
116.3
126.5
116.0
126.5
115.9
126.9
125.1
129.3
126.1
129.3
126.8
129.3
126.4
129.6
126.9
129.6
128.5
129. 6
131.4
134.9
132.0
134.9
94.7
98.2
88.5
94.8
98.2
88.3
94.9
98.1
88.4
95.1
98.4
88.9
95.3
98.6
89.1
95.3
98.6
89.2
95.4
98.6
89.9
95.2
98.4
89.9
95.2
98.4
90.0
135.1
84.9
109.3
132.3
84.6
109.2
131.6
85.2
109.5
123 9
85.6
110.1
124.2
85.7
109.8
126.3
85.7
110.3
128.4
85.8
109.6
127.0
86.1
108.4
127 4
86.9
106.6
123.9
87.2
106.9
118.0
114.6
124.0
117.9
114.6
124.0
121.5
114.6
124.0
121.4
114. 3
124.0
121.4
114.2
124.0
121.4
114.2
124.0
121.5
114.3
124.0
121.5
114.3
124.0
121.5
114.3
124.0
' 121. 4
' 114. 3
124 0
121.4
114.3
124.0
101.1
113.1
102.8
113.0
104.9
113.0
110.3
113.6
109.2
113.6
105. 1
113.6
103.9
113.5
102.3
113.4
99.1
112.7
96.7
112.7
97.0
' 112. 8
98.0
112.9
90.2
86 8
88.4
90.5
87.0
88.8
90.5
87 1
89.2
90. 1
87.3
89.0
90.2
87 0
88.3
90.9
86 9
87.9
90.6
86 8
87.3
90.5
87 0
87.8
90.9
87.2
89.0
91.2
87 3
89.4
POWER OF THE DOLLAR
As measured byWholesale prices
Consumer prices
Retail food prices
-- 1947-49=100
do
- - do
r
90.9
i 87 3
90.0
191 3
1
' Revised.
1 Indexes on base formerly used (1935-39= 100) are as follows: Measured by—wholesale prices, 47.8 (December); consumer prices, 52.2 (November); retail food, 44.6 (November).
cTFor actual wholesale prices of individual commodities, see respective commodities.
SURVEY OF CURRENT BUSINESS
January 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-7
1954
January
February
March
April
May
June
August
July
Septem- October Novem- December
ber
ber
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY
mil. of doL_
3,024
2,712
*• 2, 444
Private, total
_ _
do
Residential (nonfarm)
do
New dwelling units
__
_ _ __ do__
Additions and alterations
do
Nonresidential building, except farm and public
utility, total
mil. of dol
Industrial
_ _ do _.
Commercial
_
___do
Farm construction
do
Public utility
_ ..
do
Public, total
... _
_ _._do _
Nonresidential building
_ do
Military facilities
do
Highway
_- do
Other tvpes
_
_
_ _ _ _ _ ___ _ _do_.
New construction (seasonally adjusted), total?
mil. of doL.
Private total
do
Residential (nonfarm)
do
Nonresidential building, except farm and public
utility
mil. of dol
Farm construction _
___
__ do
Public utility
do
Public, total
_
._ _ do
Nonresidential building
do
Highway
_ _ do
2,077
1,917
1,710
New construction (unadjusted), totalt
915
94
951
850
78
523
177
192
118
393
947
353
96
286
212
507
177
182
103
347
795
350
78
174
193
2,936
2, 955
1 992
1 034
2 002
981
976
502
139
375
934
370
277
498
137
36P
963
392
289
41, 379
1,394
35, 777
1,300
' 2, 346
1,637
758
675
61
816
730
63
474
176
157
106
292
r
709
486
179
164
102
299
••734
354
r
73
130
177
r
2, 965
r i 995
r
r
r
r
2, 567
r
r
r
r
125
3, 051
r 75
160
980
507
136
365
516
135
365
514
134
366
970
1,047
T
409
327
r
r
r
188
'r 3, 005
° Oil
r
989
401
270
r
r
788
365
r 2 004
r
978
980
860
96
469
173
154
114
326
994
387
r
970
111
464
169
151
127
348
490
165
167
145
371
886
377
79
'992
387
r
r yg
230
200
320
207
3, 027
2 059
1 040
512
133
366
r
968
r 376
r
2,122
1 107
1,927
863
770
71
'345
T
69
!70
' 2, 813 ' 3, 114
1,779
r
3, 089
r 2 131
T i 105
r
3, 364
' 3, 522 ' 3, 637 ' 3, 614 ' 3, 479
2 278
1 193
1 050
r
2 3v*2
r
r
1,086
r
397
r
89
r
r
385
' 3, 078
2 122
1 102
110
106
102
95
77
549
161
203
164
400
552
160
207
167
415
551
160
207
153
415
541
163
197
126
410
551
169
200
106
386
1,157
r
403
r
96
' 1,069
'r378
96
'938
r
358
190
534
172
186
93
349
783
339
83
185
176
3,262
1,130
T
1, 178
423
' 409
r 89
r
415
93
' 3, 157
r 2 234
»• 3, 105
r 2 221
r 3, 192
r 1 214
r 1 210
r 1 228
521
128
367
515
127
367
506
126
367
12,.
926
T
923
r 365
r
956
r 377
r
921
T 364
299
292
373
288
59 741
1 733
60 996
1 837
61 612
1 573
65 521
1 692
65 641
1 925
90
300
' 3, 145
T 2 219
r i 192
958
55 659
1 528
390
3, 094
2 173
r
517
129
367
293
445
r 1 150
r
513
131
367
300
r
1 195
440
222
518
132
367
375
297
r 1 326
r
r 2, 410
217
r
215
2,985
2 202
1 214
1 115
113
1 125
528
164
189
157
389
3, 285
' 2 347
' 1 321 rr 1 292
*• 1 195
I 175
«• 2 457
r 1 267
114
r
>•r 2 459
1 313
r
1 175
r
r
213
r
205
r 884
r
r 2 259
526
368
r
933
r 376
299
r 352
T 274
r 288
65 832
1 816
67 701
1 965
54 671
1 499
2 292
1 262
524
124
368
970
380
305
CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.):
Total projects
number
Total valuation
_._
mil. of dol
Public ownership
do
Private ownership
_
__ _
do
Nonresidential buildings:
Projects
__ _
_ .number
Floor area
thous. of sq. f t _ _
Valuation
thous. of dol_.
Residential buildings:
Projects
number
Floor area
thous. of sq. ft. .
Valuation
thous. of dol
Public works:
Projects
number
Valuation
thous of dol
Utilities:
Projects
number
Valuation
thous of dol
Value of contract awards (F. R. indexes):
Total unadjusted
1947-49 = 100
Residential, unadjusted
_ _ do _
Total adjusted
_ do
Residential adjusted
do
Engineering construction:
Contract awards (ENR)§
mil. of doL_
Highway concrete pavement contract awards:©
Total
thous. of sq. yd__
A irports
_
do
Roads
_ do_- Streets and alleys
_ _
_ do
NEW DWELLING UNITS
(U. S. Department of Labor)
New permanent nonfarm dwelling units started:
Unadjusted:
Total, privately and publicly owned... thousands _ _
Privately owned, total
do
In metropolitan areas
_ do
Publicly owned
_
do
Seasonally adjusted at annual rate: 9
Privately owned, total
__
do
Residential construction authorized (nonfarm), all permit-issuing places :f
New dwelling units, total...
thousands _
Privately financed, total
_ __
do Units in 1-family structures
_
. d o
Units in 2-family structures
do
Units in multifamily structures
. _ _ _ do _
Publicly financed, total
do
483
911
479
821
3,804
38 361
1 152
40 787
1,221
363
789
436
785
484
477
669
625
681
509
589
633
475
1 043
1 215
1 256
1 108
1 156
1 064
1 227
1 332
1 024
4,199
40, 368
611, 857
36. 450
540, 338
3, 661
33, 937
473, 077
3,871
32, 259
468, 712
41, 561
532, 060
4,936
5 40f
45, 971
605, 427
5 647
51, 913
672, 288
5 367
49, 014
656, 445
5 744
48, 877
641, 513
5 251
42, 549
550 550
5 090
45, 303
646 825
5 321
50, 258
670 934
4 302
38, 559
491 090
35 668
50, 247
484 168
30 492
46, 614
433 500
33 442
48, 156
462 482
35 621
52, 706
508 773
48 718
69, 631
667 737
57 531
80, 422
796 133
57 019
84, 946
825 300
51 414
73, 138
720 266
51 988
74 756
745 440
53 403
70 591
692 736
57 928
78 995
777 332
59 900
85 814
851 894
48 656
71 778
708 691
1, 177
239 827
1, 153
226 634
951
134 304
1 007
191 ^55
1 623
209 986
2 040
219 400
2 427
324 032
2 458
287 104
2 693
351 895
2 442
262' 682
2 357
293 285
1 988
342 592
1 317
204 595
335
328
307
58 198
99 292
82 124
288
382
51 920
117 734
544
548
70 908
103 633
69 449
66 897
457
492
98 087
396
98 790
99 989
94 474
201
170
224
176
168
151
208
177
161
154
195
185
171
180
196
201
194
216
191
205
225
251
196
213
234
257
193
216
240
251
207
2?7
225
236
206
233
229
243
218
244
234
254
231
253
231
256
241
263
232
254
255
264
794
1,511
766
767
934
1,439
1 437
1,161
1 575
1,271
1 479
996
1 503
3,258
100
i 6, 605
4,726
4,03G
6, 075
1,078
7,791
1 211
10, 342
2 141
7,624
7,821
1 206
4 301
2 314
8, 376
5,076
2 575
6, 255
1 480
1 820
2 954
148
1,299
1,007
1 729
3 826
2 808
8,391
1 711
3 408
3 272
108.5
107 4
76 1
1i
116.5
112 6
83 9
39
116.0
112 9
84 6
31
114.3
113 0
81 4
13
1 102 0
1,083 0
1, 175 0
1 188 0
100.2
99.1
88 2
92.2
91.2
81 5
108 1
104 2
93 0
30
81.5
79 9
58.2
16
65.8
64 5
48.8
13
66.4
65 1
48 4
13
75.2
73 9
52 2
13
95.2
93 2
69 2
2 0
107.7
106 5
78 4
12
1, 077. 0
1, 060. 0
1, 056. 0
1, 152. 0
1, 130. 0
56.5
54.7
43.7
66.1
64.9
55.2
95.0
93.0
79 0
2.1
8.9
1.8
2.5
7.2
1.2
2,347
2 649
3.4
10.6
2.0
516
3,437
1,748
1, 852
1 125
1
1
571
4,375
4, 336
2, 121
1,774
1,384
502
4,005
3.2
7.7
1.1
2.9
6.8
1.0
8.2
3 9
1 379
98
96
85
3
0
2
1
0
8.1
18
'115.7
r H3 4
r 80 6
r 2 3
1 211 0 T i 248 0
98
96
87
2
6
9
4
8
6.7
17
96
95
86
2
6
1
582
5 485
2 309
1 500
1 919
1 657
106.0
105 8
80 4
103.0
102 7
77 2
91.0
89 6
67 1
1 4
1 233 0
1 385 0
1 473 0
2
9
4
2
8
4
5
CONSTRUCTION COST INDEXES
122. 3
Department of Commerce composite! 1947-49= 100__
122.5
121.2
121.0
121.9
121.0
121.3
121.7
123.1
122.7
122.7
123.0
122.6
396
Aberthaw (industrial building)
1914 = 100
392
393
393
395
American Appraisal Co., The:
585
585
Average, 30 cities
1913=100-.
584
585
585
586
586
591
594
589
595
597
598
598
641
641
Atlanta
do
641
641
fidQ
641
639
639
639
640
642
649
649
649
New York. . _
_ _ do .
609
609
623
624
624
623
R9Q
623
625
624
624
629
629
629
e^r
KAK
525
525
San Francisco
do
522
522
529
530
530
530
539
530
539
CQQ
St. Louis
_ ._
__do
576
576
579
576
576
577
577
595
596
594
596
598
599
Associated General Contractors (all types)
do
418
418
422
420
422
420
422
429
424
430
431
432
432
432
r
Revised.
i Data includes some contracts awarded in prior months but not reported.
JRevisions for new construction (unadjusted) for 1950-1953 appear on p. 24 of the September 1954 SURVEY. Minor revisions back to 1915 for the Department of Commerce construction
cost index are shown in the May 1953 and May 1954 issues of the Construction and Building Materials Statistical Supplement.
9 Adjusted data not shown in SURVEY prior to the October 1954 issue.
§Data for December 1953 and April, July, September, and December 1954 are for 5 weeks; other months, 4 weeks.
G Data for March, June, and August 1954 are for 5 weeks; other months, 4 weeks.
tRevised series. These data cover nonfarm residential construction authorized in all places (both urban and rural) that require building permits; they replace the former urban-building
series which covered new dwelling units authorized in all places defined as urban in the 1940 Census.
SUEVEY OF CURRENT BUSINESS
S-8
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 1 !)•""».
1954
January
February
March
April
July
May
' October
August
N
°
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION
COST INDEXES— Continued
E. H. Boeckh and Associates:!
Average, 20 cities:
Apartments, hotels, and office buildines:
Brick and concrete
U. S. avg. 1926-29=100 .
Brick and steel
do
Brick and wood
do
Commercial and factory buildings:
Brick and concrete
do
Brick and steel
do
Brick and wood
do
Frame
do
Steel
do
Residences:
Brick
do
Frame
.._
__._
_ _ d o ..
Engineering News-Record :d*
Building?
1947-49=100..
Construction 9
do
Bu. of Public Roads— Highway construction:
Composite, standard mile
1946=100
CONSTRUCTION MATERIALS
Production of selected construction materials, index:
Unadjusted
1939 = 100
\djusted
do
REAL ESTATE
Home mortgages insured or guaranteed byFed. Hous. Adm.: Face amount^
thous. o f d o L .
Vet. Adm.: Face amount
.
do .
Federal Home Loan Banks, outstanding advances to
member institutions
mil of dol
New mortgage loans of all savings and loan associations, estimated total
thous. of dol_
By purpose of loan:
Home construction
do
Home purchase
- do
A l l other purposes
_ . _ _
__ .
-do _
New nonfarm mortgages recorded ($20,000 and under),
estimated total
mil. of dol
Nonfarm foreclosures*
number
Fire losses
thous. of dol
254 2
250 2
252 8
255 7
251 3
253 9
256 1
251 5
254 7
257 3
952 8
256 2
257 9
953 3
256 3
258 3
°53 7
256 5
258. 5
253 9
256. 8
258.2
253.4
256.8
60
257
252
252
241
261
257
251
251
241
9fi2
258
253
252
242
263
259
953
253
242
9
65
261
254
255
244
265
261
255
255
245
9
66 1
262
1
9
55 4
255' 7
945 9
266
262.
255
256.
245
266 0
254 2
248. 3
254 2
248.9
253 4
247 4
254 5
248 3
255 3
249 3
256 8
250 8
257 0
250 8
129.2
135 5
129.4
135 8
129.6
136 5
130.0
137 2
131.3
138 6
r 141 g
134.7
134. 4
141 4
2,56. 0
253.7
257.4
256. 3
253 8
257.1
254.9
251 9
255. 2
254.3
250 9
253. 7
254 0
262 2
258.9
255 3
257. 8
242 8
262 5
259. 1
255 1
257.2
243 0
261 4
257 9
253 5
254.7
241 9
260 4
9
252 5
252
5
9
41 3
257.9
253.0
257. 7
252.6
255 7
250.5
128.8
134.9
129.1
135. 5
129. 3
135.7
131.8
250
253
0
4
9
5
2
9
8
1
6
2
127 7
"
4
3
f)
9
4
0
0
9
4
7
8
7
3
5
5
3
2
6
1
9
255 5
256.1
245 6
57 2
251 1
251. 4
251.4
134. 7
135. 0
141 9
135.1
142.0
153, 592
517, 807
182, 894
492, 850
262.0
9
r 141 g
257.4
13o. 4
142 2
195 4
127 0
160. 1
161.6
147.1
166. 4
138.7
162.4
143.8
174.3
167. 0
176 7
172 6
173 6
174 3
164 7
177 2
165 6
161 1
151 4
177 o
156 4
p 188 0
P 174 9
172,353
284, 905
173, 057
252, 433
183, 443
247, 561
154.255
268, 144
161,872
225, 681
152, 886
249, 213
146, 580
269, 616
164,217
308 931
154, 598
293 652
150, 706
418 182
135, 743
409 864
865
95°
751
677
630
613
608
675
630
65°
68()
708
585, 915
583, 538
494, 859
539, 359
710, 130
731,533
728, 369
809, 937
802, 356
828,170
824, 223
806,
190,304
265, 424
130, 187
187, 422
258, 641
137, 475
151,935
217,119
125, 805
176,074
219,846
143, 439
245, 604
288,212
176,314
256 844
297, 895
176,794
254 361
301, 497
172,511
283 088
341,421
185, 428
280 756
348 998
172, 602
840 693
'
288 985
371 951
179 757
282 060
368 912
177, 198
283, 385
364, 267
278, 125
357, 022
176,571
171,571
1,549
1,779
68, 064
1,622
1,971
83, 440
1 , 372
1,830
86, 493
1,425
1,921
78, 928
1,784
2,326
84 821
1, 793
2 225
77, 933
1,804
2 147
62, 282
1 990
2 326
65 533
2 027
2 188
69 532
29 086
049
78 163
9 192
2. 156
2, 148
57. 668
61,663
2 30<*
64 087
743
718
DOMESTIC TRADE
ADVERTISING
Printers' Ink advertising index, adjusted:!
162
164
165
167
161
167
Combined index
1947-49=100
167
165
178
168
173
169
170
168
165
183
166
174
166
173
163
173
Business papers
_ ._
.
_do
168
171
167
160
135
138
137
133
136
133
134
144
133
Magazines
.
do_-.
140
132
128
126
164
162
152
160
159
155
159
164
160
Newspapers
do
170
161
157
156
153
144
145
140
130
143
146
Outdoor
__
... . do
138
163
147
156
138
152
64
69
64
66
67
50
59
Radio (network)
do
55
64
60
60
56
60
224
216
211
234
225
275
294
264
250
Television (network)
1950-52=100-.
240
263
298
280
130.3
146.4
183.3
172.8
146.7
180.9
188.9
168.4
Tide advertising index, unadjusted
1947-49 = 100.191.7
180.0
159.6
130.3
131.1
Radio advertising:
r
r
r
14, 185
13, 895
12, 205
13, 286
13, 667
12,112
'9 571
12, 267
Cost of facilities, total
thous. of dol
11 349
10 445
10, 956
10 764
9r 529
1,034
781
774
896
1,063
669
635
957
785
' 692
'721
Automotive, incl. accessories
do
1, 017
693
3,935
3,658
3,713
3, 393
3, 710
3,182
3. 315
2 576
3,413
Drugs and toiletries
do
2 22° r 2 130 T 2 546 r 2, 556
3,256
3,136
3,012
2,988
2,798
2,476
2,537
2.361
2,648
2,555
Foods, soft drinks, confectionery
do
2, 326 r 2 608
2 453
1,482
1,399
1,428
1,253
1,263
1,358
1,161
1,287
Soaps, cleansers, etc
do
1 215
1 , 200
1 208
1 135
1 117
1,161
1, 183
1, 353
1,068
1 021
867
812
1,331
709
Smoking materials
do
977
771
613
575
3,264
2, 911
3,257
3, 395
3,343
3, 251
2, 644
3, 210
All other
do
3 009
2 647 r 2 621 r 3, 045
2 469
Television advertising:*
24, 682
26, 208
25, 056
22, 944
23, 573
25, 922
24, 536
25,347
Cost of facilities, total
do
32 033
23 669 r 26 180 r 31 676
22 945
2,342
2,147
2, 243
2, 052
2,623
2. 476
2, 268
2, 331
Automotive, including accessories _ _ _
_do._
3,414
' 1 914 2,819
l'934
1, 969
4, 559
4, 068
4, 838
4,525
4,330
4, 397
4,630
Drugs and toiletries
.
do
6 721
5,073
5 504 rr 6 053 rr 7. 202
5 182
5, 314
5, 486
5, 087
6,010
4,811
5, 554
5, 702
Foods, soft drinks, confectionery
do
6 594
5 436
6 735
5 795
5 447
5 377
2, 306
2, 413
2,115
2,496
3,037
2, 952
2,996
2,882
3, 145
Soaps, cleansers, etc .
_._do.
2,484
2* 798 r 3 054 T 3,055
3, 342
3, 426
3, 546
3, 465
3, 175
3,619
Smoking materials _
...
do .
3, 556
3
734
3, 442
3
510
3,
728
3 559
3 585
6, 614
6, 810
6, 829
6, 651
5, 805
6,648
6, 409
All other
do
5, 434
8 283
4 348
4 496 T 5 gs^ T 8 278
Magazine advertising:!
46, 191
62, 108
60. 328
44, 167
62, 984
33, 288
57, 613
Cost, total
do
50, 324
63. 048
63, 511
51, 787
36, 548
33. 576
4, 657
3, 578
3, 039
4,700
5. 514
1, 813
Apparel and accessories
do
3, 238
5, 609
5. 712
6, 3999
4. 202
4,728
814
4, 889
4, 393
4, 264
2,491
5, 755
6,329
5, 416
Automotive, incl. accessories
do
4 972
3 262
5 878
3 714
3 16
3 787
1,659
2,182
3, 427
1,062
2,327
4, 670
3, 641
4,157
Building materials
.
. _ _. - _ _ d o _ _
3, 236
2, 184
3 198
1, 741
1 554
5, 048
3, 961
3, 218
5, 513
5, 334
5, 215
4, 713
Drugs and toiletries
do
6, 195
5. 210
5,795
3,798
3,499
4,460
8, 164
6, 040
4, 931
7,881
7,437
6, 672
6 695
6. 953
8 885
Foods, soft drinks, confectionery
do
5 457
5 999
8 477
5 357
4,116
3, 842
2, 431
2,014
2, 616
2 694
1 , 270
Beer, wine, liquors
_ _
.. _
do._
3, 158
2 005
4, 135
1 521
2,380
1, 967
4 450
2 778
2 248
4 862
738
3 928
3 592
1 241
Household equipment and supplies
do
3 259
3 005
4 439
1 733
1 348
2, 533
1,881
1,099
3, 661
1 , 526
3, 426
3, 358
Household furnishings
do
1,762
681
3 690
2 948
2 510
1*001
9 793
4 3()3
4, 932
3, 243
3. 179
3, 788
4 044
2, 637
4,020
Industrial materials
do
2 719
4 229
4 769
3 755
444
921
715
583
953
1,273
976
Soaps, cleansers, etc
do
781
' 810
515
' 729
760
' 456
1,026
1,329
1,471
1, 453
1,662
1,293
Smoking materials
... _ . _ d o
1. 350
1 , 691
1,377
1,549
1. 138
1, 285
1.087
15,491
16, 196
13. 120
9,922
18,672
13, 400
All other
do
16,727
17 502
12 938
9 297
9 943
18 390
14 739
4. 131
4, 754
3,161
4, 284
4,406
4,551
3, 655
3,214
Linage, total
thous. of lines. .
4,999
3, 104
3, 864
4,306
4,656
3, 283
Newspaper advertising:
224,
299
234,
644
216,
155
180,
732
241,
346
233, 264
182, 932
216, 570 185. 771 199 363 218 909 244 880 238 475
Linage, total (52 cities)
do
44, 499
55, 689
50, 024
43, 297
46, 054
50, 718
51, 778
Classified
_ _
do _
54. 501
52,030
51 050
50, 193
53 001
48 793
190, 629 181,001 136, 878 136, 233 166, 131 181, 486 178,955 164, 540 135 579 146 362 167 858 190 379 189 682
Display, total
do
10, 048
10, 192
9, 240
12,579
11,336
15, 129
14,647
14,147
Automotive
_ _.
. do 12 572
11. 9520
10 781
9 760
15 617
9 978
2,897
2,789
2,905
2. 457
3, 065
4,071
2 921
3, 099
3 27
Financial
do
3 255
2 673
3 179
34, 084
27, 608
22, 626
37, 773
34, 896
26, 573
31,312
33, 979
General
.-__..
_
._. do _
23. 952
37 559
23 526
28 981
34 513
99, 989
137,488 140, 449
97, 963 117,611 130, 295 126, 506 115,179
Retail
do
96. 880 109, 777 126. 444 137. 069 136. 298
r
Revised.
* Preliminary.
§ Copyrighted data; see last paragraph of headnote, p. S-l.
cf Data reported at the beginning of each month are shown here for the previous month.
9 Revisions for building cost indexes for August-November 1950 and July 1951 and for construction cost indexes for August 1950-November 1952 and May 1953 will be shown later.
*New series. Mortgage foreclosures, compiled by the Housing and Home Finance Agency, Home Loan Bank Board, represent estimates of the total number of mortgage foreclosures in all
nonfarm areas of the U. S. Television advertising cost, compiled by the Publishers' Information Bureau, Inc., covers gross time charges for network advertising on major television networks
(ABC, NBC, Columbia, and Du Mont).
f Revised series. Data reflect the adoption of a more recent comparison base (except for television) and adjustments of the radio and television
components to cover only the network portion of these media. Revisions prior to January 1953 will be shown later.
^Revised to exclude magazine sections of newspapers. Comparable
data prior to August 1953 will be shown later.
SURVEY OF CUEEENT BUSINESS
January 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-9
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
DOMESTIC TRADE—Continued
PERSONAL CONSUMPTION EXPENDITURES
Seasonally adjusted quarterly totals at annual rates: t
Goods ind services total
bil of dol
Automobiles and parts
do
Other durable goods
do
Nondurable goods total
(Clothing and shoes
do
do
Gasoline and oil
do
Tobacco
do
Services total
Household operation
Housing
Personal services
do
do
do
do
Transportation
do
229 7
230. 5
233. 1
234.8
28
11
12
3
0
7
6
7
28 0
11.6
12 8
3 6
28 8
12.6
12 4
28 9
12.4
3.9
3.9
118.
19
71
6
2
5
12
7
5
(
)
9
4
1
r
'
118.8
19 5
72 0
6 9
2 4
5 2
12 8
120.0
19.7
72 5
121.1
19.4
73 7
2 4
2 5
13 1
13 1
83
12
28
4
4
7
26
0
1
6
4
3
2
4
83 6
12.0
29 0
84.3
12.1
29.3
84.8
12.2
29.5
4 5
4.5
4.6
7.2
4.4
4.5
7.3
26 5
26.7
26.9
Y> 6
7.0
7.0
5.3
5.3
4.4
7.2
RETAIL TRADE
All retail stores:
Estimated sales (unadjusted), total
Durable-goods stores
Automotive group
T'
bntt rv aop
.
mil. of doLdo
do
.
rv d
1
°
Furniture and appliance group. _
Furniture, homefurnishings stores
Household-appliance, radio stores. _
Lumber, building, hardware group
Lumber building-materials dealers
Hardware stores
rl
do
do_._
do
do
do
do
Nondurable-goods stores
Apparel group
...
Men's and boys' wear stores
Women's apparel accessory stores
Family and other apparel stores
Shoe stores
Drug and proprietary stores
Eating and drinking places
_
Food group
.
Grocery stores _ .
Gasoline service stations
do
do
do
do
do
do
do^
do
do
do
do
General-merchandise group.
._. .
Department stores, excl. mail-order
Mail-order (catalog sales)
Variety stores
__
Other general-merchandise stores
Liquor stores
_
Estimated sales (adjusted), total
Durable-goods stores
_
Automotive group
Mo tor- vehicle, other auto dealers
Tire battery, accessory dealers
Furniture and appliance group
Furniture, homefurnishings stores
Household-appliance, radio stores
Lumber, building, hardware group
Lumber, building-materials dealers
Hardware stores
do
do-.do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Nondurable-goods stores _ ..
Apparel group
Men's and boys' wear stores
Women's apparel, accessory stores
Family and other apparel stores
Shoe stores
Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores
Gasoline service stations
General-merchandise group. _ _
Department stores, excl. mail-order
Mail-order (catalog sales)
Variety stores
Other general-merchandise stores. _
Liquor stores
Estimated inventories:!
Unadjusted total
Durable-goods stores
. _
Nondurable-goods stores
Adjusted total
Durable-goods stores _ _ _.
Automotive group
Furniture and appliance group
Lumber, building, hardware group ...
13, 955
16, 444
12, 339
12, 065
13, 540
14, 324
14, 246
14, 658
14, 390
13, 896
14, 139
14, 665
* 14, 531 i 18, 003
4,916
2,672
2 526
4,842
2, 536
2 399
4,853
2,491
2 344
4,786
' 2, 478 i 2,866
2,338
434
296
433
307
4,944
2,279
2 099
3,861
2,124
2 014
4,070
2,254
2 142
4,768
2,771
2 644
4,963
2,841
2 699
5,020
2,832
2 695
5,458
3,095
2 936
5,022
2,747
2,588
465
348
1,000
535
465
364
307
407
288
422
310
808
587
221
444
296
849
620
229
438
319
627
462
165
398
292
861
564
297
362
290
9, 213
11, 500
1,364
8,478
8,772
9,361
9,227
384
1,051
3, 291
2, 740
516
1,096
3,618
3,018
407
988
3,357
2,837
914
855
394
962
3,112
2,607
1,753
963
140
2,748
1,477
181
1,167
624
75
4,742
2,531
2 388
143
813
862
623
239
866
196
340
194
137
898
257
394
294
14, 104
5,005
2,776
2,630
180
352
524
291
196
110
670
678
160
271
132
115
526
564
462
176
292
269
13, 932
4,626
2,509
2, 365
13, 622
4,436
2,285
2,148
112
652
654
482
172
7,996
604
134
250
116
103
127
690
738
542
196
715
152
297
143
124
143
695
949
198
379
188
185
137
739
821
184
337
149
152
9,200
9,368
8,980
852
204
326
163
159
722
154
283
147
138
681
133
266
154
128
936
706
230
9, 296
847
164
323
188
172
141
'836
503
333
947
704
243
898
652
246
9,812
9,744
-920
i 1, 458
911
192
350
204
165
211
361
195
152
955
989
975
i 553
1,120
3,918
3,298
1,016
1, 478
819
86
1,514
830
96
1,334
697
77
1,424
761
95
1, 543
852
103
l,68f
923
107
r 1, 821
1, 025
140
2, 840
1, 548
870
903
1,567
863
94
222
350
262
14, 044
4,730
2,581
2,449
231
358
250
228
332
280
14, 439
5,024
2,826
2,682
14, 272
4,911
2,640
2,490
337
781
566
215
132
769
436
333
800
582
217
144
740
423
317
818
598
220
9,360
9,313
9,415
308
164
340
182
330
160
354
179
1,099
3,396
2,831
916
1,049
3, 362
2,831
915
1,105
3,366
2,835
938
1,102
3,434
2,872
954
1,128
3,434
2,860
956
1,528
1,490
1,606
1,539
1, 581
150
775
447
328
846
614
231
231
337
264
235
353
276
14, 150
4,770
2,571
2,430
14. 214
4,798
2,564
2, 434
141
724
415
310
864
644
219
131
728
426
302
867
645
222
255
401
283
14, 071
4,689
2, 485
2,348
265
391
287
14
4
2
2
361
948
685
547
144
738
418
320
820
597
223
137
784
443
341
827
599
228
9,306
9,186
354
167
1,054
3,375
2,838
910
do do
do
do
do
do
1,571
do
do
do --
23, 628
10, 459
13, 169
21, 208
9,876
11,332
21, 369
10, 233
11, 136
22, 046
10, 476
11, 570
23, 321
10, 913
12, 408
23, 351
11,080
12, 271
23, 016
10, 898
12, 118
22, 131
10, 489
11, 642
21, 843
10, 239
11, 604
22, 143
10, 164
11, 979
22. 498
9,887
12, 611
22, 633
9.570
13, 063
23 252
9 819
13 433
do
do
do
do
do - - -
22, 437
10, 574
3,768
1,994
2,419
22, 661
10, 668
3,748
2,039
2,495
22, 521
10, 688
3,895
1,984
2,437
22, 421
10, 584
3,868
1,994
2,351
22, 563
10, 486
3,807
2,013
2,313
22, 690
10, 412
3,773
1,992
2,315
22, 804
10, 502
3,821
2,018
2,322
22, 600
10, 383
3,751
2,001
2,302
22, 403
10, 190
3,671
1,923
2,294
22, 451
10, 286
3.743
1,915
2,318
22. 425
10. 234
3,657
1,926
2.336
21, 996
9,974
3,361
1,930
2,337
22 116
10 065
3 430
1 929
2*341
do
do
do
do
do
do
do
do
do
do
do
147
754
432
322
893
657
236
9,099
787
167
314
163
143
394
857
106
252
356
278
153
779
453
326
849
619
230
143
758
433
326
784
570
214
9,228
9,042
339
163
341
177
1,064
3,432
2,890
933
1,066
3,378
2,857
936
1,629
1,505
868
188
158
408
870
118
260
381
308
845
187
156
430
823
96
236
349
316
878
199
807
196
162
416
140
410
822
100
250
357
297
806
98
226
360
289
146
111
440
876
200
153
416
857
104
250
394
292
i 1, 025
'398
' 1, 067
' 3, 452
r 2, 893
'994
1,330
724
94
14, 242
4,882
2,728
2,582
923
707
216
488
325
406
1,139
3,661
3,100
1,017
800
13, 900
4,858
2,738
2,595
919
687
233
147
812
392
1,156
3, 475
2,920
1,142
599
82
13, 972
4,745
2,502
2,349
918
686
232
136
740
396
1,207
3,374
2,828
1,026
406
1,100
3,447
2,886
249
361
266
146
730
407
1,221
3,689
3,121
1,052
398
1,035
3,422
2,866
198
314
266
159
733
406
1,134
3,385
2,833
401
1,004
3,340
2,799
188
273
256
159
758
822
194
138
410
840
100
234
365
270
885
207
146
412
854
103
249
374
280
9,361
855
184
348
178
9. 380
823
178
9.417
820
177
137
752
444
308
875
648
227
9,382
812
173
138
744
448
296
905
674
231
9 412
823
173
315
190
311
183
309
175
1,141
3,443
2,887
955
1,107
3,497
2,927
969
1, 106
3, 570
2, 992
950
1,085
3,522
2, 966
982
1 070
3 494
2 944
985
1,569
1,576
1. 566
1, 565
1 570
145
403
862
104
250
353
277
140
404
854
101
256
364
291
149
410
849
100
257
359
283
155
407
867
98
247
353
266
330
166
154
411
870
101
258
341
266
12, 213
12, 217
12, 302
12, 165
12, 022
12, 191
12, 077
12, 278
11,837
11, 833
11,993
11,863
12, 051
Nondurable-goods stores _
do
2,700
2,686
2,736
2,667
2,685
2,713
2,811
2,612
2,726
2,594
2,521
2,527
2, 697
Apparel group
do
2,488
2,365
2,533
2,566
2,586
2,290
2,437
2,578
2,394
2,344
2,416
2,289
2,298
Food group
.
do -3.816
3,742
3,730
3,721
3,738
3,732
3,772
3,668
3,665
3,814
3,858
3,673
3,823
General-merchandise group
do- —
r
1
Revised.
Advance estimate.
^Revised series. Qua terly estimates have been revised back to 1939; annual data, to 1929. Revisions prior to 2d quarter 1953 for the grand
total, total durable and nondurable goods, and services are shownras components of gross national product in table 5 on pp. 8 and 9 of the July 1954 SURVEY; those for the subgroups appear in
the 1954 issue of the National Income Supplement.
t Revised series. See corresponding note on p. S-3.
SUKVEY OF CUEEENT BUSINESS
S-10
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
January 1955
1953
1954
Novem- December
ber
January
February
March
April
May
June
July
August
SeptemDecemOctober November
ber
ber
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores— Continued
Firms with 11 or more stores:
Estimated sales (unadjusted), total
mil. ofdol
Apparel group
do
Men's and boys' wear stores
do
Women's apparel, accessory stores. _ _ do _
Shoe stores
do
Drug and proprietary stores
do
Eating and drinking places
do
Furniture homefurnishings stores
do
2,587
20
69
48
60
53
32
3,457
287
35
113
81
88
57
33
2,240
120
12
45
37
60
50
22
2 150
113
10
45
36
57
49
25
2 429
155
14
58
48
59
54
31
i 2 687
212
18
81
73
62
54
27
* 2 603
165
14
66
57
61
55
32
1 2 605
171
16
65
61
61
57
28
i 2 643
139
U
58
52
63
58
28
i 2 470
131
10
55
47
60
58
29
176
1
2 598 * 2 802
170
183
13
17
62
68
63
61
60
64
57
57
28
33
i 2, 743
186
20
71
54
61
54
32
General-merchandise group
do
Department stores
do
Dry-goods, other general-merchandise stores
mil. of dol
Variety stores
do
Grocerv stores
do
Lumber building-materials dealers
.. do_
Tire battery accessory stores
do
801
352
1,282
509
501
223
510
220
604
278
737
346
697
347
729
354
655
314
692
321
732
355
797
380
848
385
121
199
1,001
58
49
194
410
1 129
50
72
76
133
1 097
41
37
71
144
1 000
47
39
84
155
1 086
54
43
108
198
1 128
60
50
96
174
1 114
64
49
104
182
1 069
70
59
94
175
1 206
70
58
104
178
1 029
72
52
98
184
1 077
75
49
120
199
1,183
71
51
125
210
1,081
68
49
Estimated sales (adjusted), total
-do . .
Apparel group
._ _ __ _ do
Men's and boys' wear stores
do
Women's apparel, accessory stores _ _ do
Shoe stores
do
Drug and proprietary stores
do_
Eating and drinking places
„
do_
Furniture homefurnishings stores
do
2,569
173
17
68
51
63
55
30
2,620
188
20
75
56
63
54
23
2, 543
164
14
64
54
62
54
29
2,585
167
14
67
54
62
56
30
2,584
167
15
62
56
61
55
30'
i 2, 613
175
16
69
56
64
55
29
2 595
160
14
63
53
63
54
28
i 2 619
167
16
66
54
63
55
98
i 2 652
164
15
67
54
64
55
32
2 654
168
16
63
57
64
55
29
12 607
168
15
64
59
63
54
30
i 2, 660
177
17
67
59
63
57
27
723
321
760
318
693
312
715
324
718
330
736
344
702
322
740
338
730
336
748
345
745
351
722
334
745
345
109
196
1,060
57
52
130
203
1, 064
59
50
103
186
1,082
56
51
104
195
1,087
61
52
105
191
1,090
61
49
105
192
1,088
60
51
99
187
1, 120
62
48
106
199
1,098
62
52
107
190
1, 128
63
54
109
200
1,119
63
49
102
199
1, 120
64
51
105
193
1, 108
61
52
107
200
1,116
67
50
146
238
194
259
159
252
138
243
127
236
131
236
130
233
130
232
117
226
117
228
127
231
135
238
150
249
47
14
46
14
45
13
43
14
48
15
45
14
46
14
47
14
45
14
45
13
46
13
47
14
48
13
46
44
10
48
43
9
47
42
11
46
43
11
46
43
11
46
44
10
47
43
10
46
44
10
47
42
11
46
43
11
45
44
11
44
44
12
45
44
11
136
192
219
194
188
187
209
189
171
178
188
211
185
195
83
94
83
82
80
94
83
75
81
80
80
83
85
86
101
81
83
80
98
86
83
83
84
89
88
86
89
110
86
86
82
102
90
79
85
91
97
92
88
110
129
108
109
105
119
110
101
101
109
124
112
107
106
120
102
108
98
119
109
104
98
104
114
106
107
106
114
106
108
100
112
108
96
99
104
113
110
105
88
106
77
86
82
111
97
84
112
123
115
113
105
121
114
111
106
111
122
111
112
118
141
110
114
111
135
121
••122
110
113
130
123
116
'137
p 154
P134
P133
p 134
P147
P130
pl!9
P132
P 146
P 153
pl37
J»134
P198
78
93
89
100
' 98
115
83
98
94
115
104
99
80
85
102
100
111
••129
107
113
115
127
112
105
102
'109
r
120
r
115
112
'1 13
127
108
115
112
125
114
107
101
108
121
113
109
107
122
105
106
104
119
110
104
101
106
109
108
108
109
123
109
107
104
121
109
108
102
111
117
112
107
105
117
102
101
92
115
103
95
99
106
119
108
111
111
127
105
111
104
120
113
100
102
109
122
114
111
108
122
102
108
98
123
109
104
100
105
115
106
114
112
129
106
110
107
127
115
103
102
109
120
122
114
111
132
107
106
105
132
118
105
101
109
117
112
115
112
131
104
108
108
127
112
105
105
107
120
110
115
107
••121
109
106
101
114
107
101
102
107
115
104
110
113
138
110
111
106
129
116
106
105
105
124
112
116
pl!4
v 135
p 109
p 110
p 109
*130
P116
142
127
109
123
108
120
114
119
126
121
127
120
126
121
116
122
115
124
120
124
129
125
138
124
v 139
p 124
373, 870
98, 349
275, 521
511, 657
138, 930
372, 727
231, 649
52, 587
179, 062
228, 687
53, 131
175, 556
278, 044
67, 406
210, 638
333, 209
83, 562
249, 647
335, 726
78, 109
257, 617
352, 655
81,318
271, 337
313, 704
69, 881
243, 822
327, 837
77, 591
250, 247
345, 570
81, 298
264, 272
370, 634
88, 435
282, 199
384, 428
93, 531
290, 898
9,231
2,973
6,258
9,152
2,959
6,193
8,014
2,425
5, 589
8,103
2,628
5,475
9,135
2,928
6,207
8,751
2,902
5,849
8,526
2,781
5,745
9,465
3,060
6, 405
9, 515
2,872
6,643
9,461
2,984
6,477
9,632
3,089
6,543
12, 153
5,902
6,251
11,697
5,678*
6,019
11, 937
5,863
6,074
11,914
5,947
5,967
11,843
6,053
5,790
11,601
6,022
5,579
11, 553
6,040
5,513
11, 488
5,881
5,607
11, 503
5,720
5,783
11, 627
5,712
5,915
11, 752
5,642
6,110
General-merchandise group
Department stores
- Dry-goods, other general-merchandise
mil
Variety stores
Grocerv stores
Lumber building-materials dealers
Tire battery accessory stores
do
do_
stores
of dol
do
do
do
do
Department stores:
Accounts receivable, end of month:
Charge accounts
1947-49=100.Installment accounts
do
Ratio of collections to accounts receivable:
Charge accounts
percent
Installment accounts 9
do
Sales by type of payment:
Cash sales
percent of total s^les _
Charge account sales
do
Installment sales
do
Sales unadjusted total U. S.{
Atlanta
Boston
Chicago
Cleveland
Dallas
Kansas City
Minneapolis
New York
Philadelphia
Richmond
St Louis
San Francisco
1947-49=100 .
do.- do
do
do
._
do_-- do
do
-- ._
do- -.
do
do. do
do
Sales adjusted, total U. S.J
Atlanta
Boston
Chicago
Cleveland
Dallas
Kansas City
Minneapolis
New York
Philadelphia
Richmond
St Louis
San Francisco
_
do -_
do
do
- do-do
do
do
do
do
--do do_
do
-do
- --
Stocks, total U. S., end of month::}:
Unadjusted
Adjusted
do
do- --
Mail-order and store sales:
Total sales 2 companies
thous of dol
Montgomery Ward & Co
do
Sears Roebuck & Co
do
WHOLESALE TRADE
Sales estimated (unadj ) total t
mil. of dol
Durable-goods establishments
do _
Nondurable-goods establishments
do
Inventories estimated (unadj ), total t
Durable-goods establishments
Nondurable-goods establishments
r
_
do.
do
do
r 147
r
129
137
142
144
129
121
129
143
' 147
r 137
131
113
1
1
2 655
166
16
65
55
63
55
29
1
' 9, 470
' 3, 095
6, 375
r
'11,944
rr 5, 641
6, 303
pl!3
p 103
P 105
pill
*124
P115
P 114
9,635
3,022
6,613
11, 929
5,611
6,318
Revised.
* Preliminary.
1 Excludes comparatively small sales amounts for certain lines of trade also excluded from this series prior to April 1954.
9 Revised beginning 1953; not strictly comparable with earlier data.
JData for 1946-53 have been revised to reflect changes in seasonal factors and other minor changes. Unpublished
revisions (prior to July 1952) will be shown later.
fRevised series. See corresponding note on p. S-3.
SUEVEY OF CUKKENT BUSINESS
January 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-ll
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
EMPLOYMENT AND POPULATION
POPULATION
Population, continental United States:
Total, incl. Armed Forces overseas©
thousands..
160, 654
160, 873
161, 100
161, 331
161, 542
161, 763
161, 969
162, 187
162, 414
162, 670
115, 544
115, 634
115, 738
115 819
115,914
115 987
116 083
116 153 " 116 217
116 329
" 67, 495
" 66, 485
66, 292
67, 139
67, 218
67, 438
67, 786
68, 788
68, 824
68, 856
" 63, 975 " 62, 993
" 62, 276 " 60 680
" 6, 617 " 5, 370
" 55, 659 " 55 310
1,699
2,313
62, 840
59 753
5,284
54,469
3,087
63, 725
60 055
5,704
54 351
r
3, 670
63, 825
60 100
5,875
54, 225
" 3, 724
64, 063
60 598
6,076
54 522
3,465
64, 425
61,119
6,822
54 297
3,305
65, 445
62 098
7,628
54 470
3,347
65 494
62 148
7 486
54
661
r
3 347
48 680
48 696
48 549
48 297
47 365
r 47 393
162, 947
163, 211
163, 465
163, 698
116 432
116 547 " 116 659
116 763
EMPLOYMENT
Noninstitutional population, estimated number 14
years old and over, totaled
thousands
Total labor force, including Armed Forces
Civilian labor force, total. _ _
Employed
Agricultural employment
Nonagricultural employment
Unemployed
.
do
._ do _
do
do. __
do
do
Not in labor force
do
r
65
" 62
6
55
3
r
68, 566
522 " 65
277 " 62
7
928
349 r 54
245 r 3
68, 190
64, 882
62 141
67, 909
100
54 902
2 741
64
r 61
6
55
2
r 47 865
48 357
r 48 750
045
863
875
988
48, 52f
" 48, 668
" 16, 058
" 9, 065
" 6, 993
719
89
25
205
244
145
527
618
7,239
66, 811
624
732
154
577
893
63 526
60 688
5? 325
55 363
2 838
49 952
" 48 049
" 49 149
" 49 446
do _.
do
do __
do
49, 851
16 988
9,897
7 091
50 197
16 765
9,773
6 992
48, 147
16 434
9,591
6 843
47, 880
16 322
9,480
6 842
47, 848
16 234
9,389
6 845
48, 068
16 000
9,260
6 740
47, 935
15 836
9,152
6,684
48, 137
15 888
9, 123
6 765
Mining, total
_
do
Metal
do
Anthracite
__ _
_
do
Bituminous coal
do
Crude-petroleum and natural-gas production
thousands _
Nonmetallic mining and quarrying
do
Contract construction _ __ _
do
Transportation and public utilities
do
Interstate railroads _
do
Local railways and bus lines .. _ _ _ _ _ do
Telephone
do
Telegraph
_
_ _
_.do __
Gas and electric utilities
do_. _
829
105
49
271
822
106
49
266
805
104
46
261
790
103
45
252
772
102
42
237
749
98
39
220
737
99
29
213
744
100
27
214
735
100
25
202
737
98
25
207
297
106
2,789
4,216
1 354
128
705
43
556
298
104
2 632
4,187
1 329
127
704
43
556
295
99
2 349
4,069
1 266
127
701
42
555
291
98
2 356
4,039
1 244
126
701
41
554
292
99
2 415
3,992
1 215
126
700
41
555
291
101
2 535
4,008
1 206
125
700
42
556
292
103
2,634
4,008
1,216
124
699
41
557
300
104
2 729
4,032
1 229
123
699
41
563
303
105
2 795
4,043
1 232
705
41
569
301
105
2 851
4,030
1 224
121
703
41
569
10 414
2 757
7 657
1 325
1 422
812
2 104
5 601
527
337
172
6 625
10 377
2 780
7 597
1 290
1 414
'812
2 126
5' 638
584
338
167
6 467
10 350
2 781
7 569
1,290
1 405
810
2 126
5 634
583
332
162
6 454
10 480 " 10, 581 " 10 787 p 11 327
" 2 815
" 2 841 p 2 837
2 786
" 7, 766
" 7 946 p 8 490
7 694
" 1,410
" 1, 527 p 1 905
1 360
1 428 " 1 438 p 1 456
1 413
801
" 808
p 817
804
" 2, 110
" 2 108 p 2 114
2115
" 5 549
5 509
p 5 475
5 606
476
" 516
945
733
910
823
48 flc/i
730
640
001
504
095
551
71 P;
2 coo
4 016
Employees in nonagricultural establishments: 9
Total, unadjusted (U. S. Dept. of Labor) ___
Manufacturing
_
Durable-goods industriesNondurable-goods industries
Wholesale and retail trade
Wholesale trade
Retail trade
_ __
General-merchandise stores
....
Food and liquor stores
Automotive and accessories dealers ._
Finance, insurance, and real estate
Service and miscellaneous
Hotels and lodging places_
Laundries
Cleaning and dyeing plants
Government
Total, adjusted (Federal Reserve) 9
Manufacturing
Durable-goods industries
Nondurable-goods industries
Mining
Contract construction..
Transportation and public utilities.
Wholesale and retail trade
Finance, insurance, and real estate
Service and miscellaneous
..
Government
__
47
15
8
6
808
627
863
764
192
47 473
48
15
8
6
do
do
do
do
do
do
do
do
do
do
do
do
10 828
2 831
7 997
1,581
1 415
'830
2,034
5 467
477
337
170
6,700
11 361
2 830
8 531
1 960
1 429
'839
2 040
5 435
475
335
167
6,955
10 421
2 794
7 627
1,369
1 401
825
2 033
5 377
467
333
165
6,659
10 310
2 792
7 518
1 305
1 406
818
2 044
5 380
474
330
163
6 639
10 305
2 780
7 525
1,319
1 399
812
2 057
5 406
474
329
164
6 667
10 496
2 762
7' 734
1,409
1 420
808
2 075
5 506
488
331
171
6 699
10 375
2 746
7,629
1,339
1 416
'809
2,081
5 563
502
334
171
6,701
do
do
do
do
49 422
16, 901
9 857
7,044
49
16
9
6
109
704
733
971
48 812
16, 497
9 599
6,898
48
16
9
6
607
349
467
882
48
16
9
6
441
262
364
898
48
16
9
6
268
122
245
877
48
16
9
6
177
038
171
867
48
15
9
6
102
994
126
868
47
15
8
6
982
775
962
813
47
15
8
6
do
do
. do
do
_ do
do
do
825
2 708
4,205
10 577
2,044
5 494
6 668
818
2 686
4,176
10 579
2 050
5 490
6 606
805
2 581
4,118
10 577
2,054
5 487
6 693
2
4
10
2
5
6
794
618
087
543
065
490
661
2
4
10
2
5
6
772
654
012
552
067
488
634
2
4
10
2
5
6
753
641
015
524
075
506
632
744
2 634
4,011
10 494
2,081
5 508
6 667
2
4
10
2
5
6
740
624
016
480
083
518
647
2
4
10
2
5
6
742
637
014
507
095
555
657
2
4
10
2
5
6
CQ1
16,019
8, 950
7,069
"716
"90
31
203
295
105
287
104
2 817
" 2 777
" 4, 012
1 207
4,032
" 1 216
" 120
T
696
r
41
564
329
r 163
6 738
15 789
8
Q41
6 848
i n' 48fl
2 115
5
coo
" 48, 830 p 49, 432
" 16, 106 p 16 102
" 9, 178 p 9 216
" 6, 928 p 6 886
"722
" 93
P 92
" 204
p 203
103
p 101
P 2 550
p 3, 988
" 2 722
" 3, 989
120
693
41
560
330
166
6 865
" 6 887
" 48 209
r 15' 886
9 035
" 6 851
" 48 401
p 48 349
r 16 017 p 16 043
" 9 137
p 9 179
" 6 880 P Q 864
" 716
r 2 620
r 4 002
r 10 476
" 2 121
r 5 549
6 con
" 2 643 T> 9 fif!9
" 3* 979
p 3 978
" 10 537 D i n ^4.8
" 2 119 p 2 125
5' 507
•D ^ ^°.n
p 7 163
r 71 8
Production workers in manufacturing industries: 9
Total (U. S. Dept. of Labor)
thousands
12 212
12 437
13, 319
13, 534
12 449
13, 002
12 480
12 590
12 818
12 906
12 611 " 12 652 " 12 711 P 12 702
Durable-goods industries. _ _ _
do
7 910
7 208
7 309
6 933
6 917
7 430
7 520
7 616
7 791
7 177
" 7 252 P 7 283
" 7 133
7 015
T 112
ig4
Ordnance and accessories
do
125
187
137
177
113
117
150
120
165
" 109
114
p 109
Lumber and wood products (except furniture)
604
thousands _ _
695
679
617
654
649
643
613
701
627
"720
697
"717
P694
r
Sawmills and planing mills
do
324
344
377
372
361
351
359
347
331
343
381
378
299
Furniture and
fixtures
do
308
272
277
293
301
275
283
290
292
288
" 299
P 297
296
Stone, clay, and glass products . _
do
448
459
P 440
424
427
429
428
427
428
427
434
438
440
437
Glass and glassware, pressed or blown. _ _ d o
74
78
77
86
78
83
78
78
78
76
76
76
r 9g9
Primary metal industries
do
1 049
1 088
976
991
1 010
1 074
983
1 027
969
968
965
" 989
Blast furnaces, steel works, and rolling mills
thousands ..
542
483
522
484
£02
534
488
485
491
r 485
484
511
Primary smelting and refining of nonferrous
metals
-thousands_.
49
47
48
48
48
47
48
49
45
48
48
46
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
thousands. _
902
874
833
852
864
831
809
840
875
"840
"829
820
819
P833
Heating apparatus (except electrical) and
plumbers' supplies
thousands102
92
89
92
90
91
97
91
90
95
98
98
Machinery (except electrical)
do
1,240
1,202
1,230
1,165
1,238
1,151
1,187
1,220
1,108
1,093
" 1, 091
1, 095
" 1, 095 p 1, 102
Electrical machinery.
do
913
791
827
855
883
776
811
839
765
782
802
" 832
" 817
p 828
Transportation equipment
do
1,449
1,324
1,342
1,409
1,470
1,487
1,380
1,435
1,277
1,184
1,237
" 1, 246
" 1, 323 P 1, 384
Automobiles
_
do
686
594
637
677
707
601
625
655
561
534
561
" 478
Aircraft and parts
do
602
567
592
575
585
596
586
570
565
550
559
556
Ship and boat building and repairs
do..
126
128
122
125
115
116
120
111
109
102
102
101
Railroad equipment.
do
59
59
44
48
53
55
60
42
34
37
36
37
Instruments and related products
do
243
237
241
215
224
229
233
220
210
214
213
p 214
210
213
Miscellaneous mfg. industries
do
425
386
375
374
380
389
393
407
363
378
395
392
"398
"387
" Revised, v Preliminery.
©Minor changes have been made for May 1950-October 1951. Revisions for November 1951rDecember 1952 appear at bottom of p. S-10 of the March 1954 SURV
>u; o.bii; 5,924; b,_r/4; t>,4^2; 7,865; 7,544; 7,173; 7,109; 7,075; nonagricultural, 55,244; 55,486; 55,741; 55,299; 55,557; 55,720; 56,122; 56,518; 55,475" 55 683' urn
>2; 1,548; 1,240; 1,321; 1,301; not in labor force, 48,142; 48,246; 47,871; 48,145; 48,113; 46,329; 46,328; 46,711; 47,862; 47,840.
9 Data for employment and hours and earnings have been revised effective with the June 1954 SURVEY to adjust to the first quarter 1953 benchmark Revisions beginning 1951 are available
upon request to the Division of Manpower and Employment Statistics, Bureau of Labor Statistics, U. S. Department of Labor, except for the estimates of employment adjusted for seasonal variation
which are available from the Board of Governors, Federal Reserve System.
SURVEY OF CURRENT BUSINESS
S-12
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 1955
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Production workers in mfg. industries 9— Continued
Total (U. S. Dept. of Labor)— Continued
Nondurable-Roods industries .
thousands. .
Food and kindred products
do
Meat products
_ _ _ do
Dairy products
do
Canning and preserving
do
Bakery products
_ _
do _ _ .
Beverages
do
Tobacco manufactures
- do _
Textile-mill products
do
Broad-woven fabric mills. _ _
do _ _
Knitting mills
do
Apparel and other finished textile products
thousandsMen's and boys' suits and coats
do - Men's and boys' furnishings and work clothing
thousands. Women's outerwear _ _
__do ___
Paper and allied products
do
Pulp, paper, and paperboard mills
do
Printing, publishing, and allied industries
thousandsNewspapers
do
Commercial printing
do
Chemicals and allied products.
do
Industrial organic chemicals
do
Products of petroleum and coal.. ._ __ do - .
Petroleum refining
do
Rubber products
- - do
Tires snd inner tubes
do
Leather and leather products
_
- do _
Footwear (except rubber)
do
Production workers in manufacturing industries, adjusted (Federal Reserve) 9
Total
- - - - .--thousands...
Durable-goods industries
do
Nondurable-goods industries
do
Production workers in manufacturing industries: 9
Indexes of employment:
Unadjusted (U. S. Dept. of Labor)__. 1947-49= 100..
Adjusted (Federal Reserve) _ _.
. . -do
Miscellaneous employment data:
Federal civilian employees (executive branched*
United States continental
thousands
Washington, D. C., metropolitan area
do
Railway employees (class I steam railways) :
Total
._
- thousands..
Indexes:
Unadjusted
1935-39=100
Adjusted
.. _
-do.- ..
5,624
1,149
273
76
184
180
125
101
1,046
485
204
5, 528
1,083
267
74
149
177
120
104
1,028
477
199
5, 386
1,024
256
73
132
173
115
97
997
466
190
5, 386
1,009
250
74
125
175
112
60
995
463
194
5,388
1,009
246
77
126
174
115
84
989
460
193
5,281
1,011
241
80
135
174
117
82
979
455
192
5,229
1,031
239
84
144
172
122
82
969
452
192
5, 303
1,079
247
88
165
174
127
82
981
457
197
5, 295
1,142
246
88
225
176
133
83
953
442
192
5,516
1,224
251
85
306
174
127
102
981
452
202
5, 596
1, 252
r
257
81
'332
173
* 122
110
987
'453
204
' 5, 519 ' 5, 459 p 5, 419
' 1. 169
' 1, 106 P 1, 055
263
1,085
121
1,084
121
1,062
119
1,088
122
1,101
121
1,030
110
985
105
987
108
980
107
1,050
115
1, 053
114
' 1.050
112
285
312
446
220
275
331
442
221
268
333
438
219
271
344
437
218
275
349
436
219
268
314
433
217
261
287
433
218
262
284
436
220
248
296
430
217
269
317
436
219
273
' 312
441
220
275
303
440
217
522
147
169
548
220
184
141
210
87
334
215
525
148
173
540
217
181
139
209
87
332
219
514
142
171
540
214
178
138
206
86
332
222
514
143
169
536
207
178
138
203
85
339
225
517
146
168
539
204
177
137
199
85
338
226
516
146
168
634
202
176
'137
195
83
325
218
515
147
167
525
201
179
138
197
84
315
211
519
148
168
517
201
181
140
198
85
324
217
513
145
167
513
201
181
141
173
67
327
218
514
145
167
516
201
179
139
177
68
337
224
523
' 147
'525
148
170
' 529
202
13,447
7,868
5,579
13, 251
7,748
5,503
13, 063
7, 621
5, 442
12, 935
7,509
5, 426
12,840
7, 405
5, 435
12, 705
7,295
5,41C
12,632
7,227
5, 405
12. 589
7,182
5,407
12, 371
7,020
5, 351
12, 334
6,972
5,362
12, 388
7. 007
5, 381
' 12,485 r 12, 625 p 12.639
' 7, 104 ' 7, 211 T- 7. 244
' 5, 381 ' 5, 414 p 5. 39n
109.4
108.7
107.7
107.1
105. 1
105.6
104.3
104. 6
103.6
103. 8
101.8
102.7
100. 5
102.1
100.9
101.8
98.7
100.0
100. 6
99.7
102. 0
100.2
102.3
' 102. 8 p 102. 7
' 100. 9 ' 102. 1 p 102. 2
2, 176. 0
208.3
1
r
231
174
118
' 112
'988
455
205
170
524
' 201
177
137
199
r 175
r
' 85
330
217
* 2, 137. 6 r 2, 135. 4 r 2, 130. 9 '2,115.9
2, 453. 62 '2, 157. 6 r 2, 148.7 r 2, 147.0 '2,141.4 '2,134.0
r
1211.7 2 r 207. 1 * 206. 6 * 206. 6 ' 206. 7 r 205. 7 r 207. 7 r 207. 4
206. 4 ^ 204. 7
137
204
87
329
214
' 103
'993
p 102
P998
' 1,052
p 1, 053
'441
M40
524
P527
528
f 528
r 174
p 173
r
'207
p20S
'332
p 336
2,121.3 2, 143. 6
205.9
' 205. 5
1,222
1,190
1,139
1,114
1,089
1,081
1,091
1,104
1,107
1,099
1,092
' 1,083
116.4
115.4
113.2
115.0
108. 6
112.9
106.2
108. 9
103.8
106.5
103.1
104.8
104.1
104. 5
105. 3
103.9
105.7
103.5
104.9
102.8
104.3
101.8
r
148.0
147.2
140.8
140. 5
138.4
135.0
135.1
136.6
132.3
135.1
40.0
40.6
39.9
40.2
40.8
40.9
39.4
40.1
40.0
39. 6
40.2
40.0
39.5
40.0
40.2
39.0
39.7
39.7
39.3
39.9
40.0
39.6
40.0
40.1
39.4
39.7
40.1
40.0
40.1
40.7
40.6
39.4
39.8
40.2
40.4
40.7
40."
39.4
39.8
39.4
39.2
39.6
39.7
39.0
39.3
40.1
40.2
40.1
40.4
39.6
38.6
40.0
40.6
40.1
40.4
39.6
38.0
40.2
40.6
39.1
40.1
38.3
38.0
39.9
40.5
38.8
40.4
39. (
38.4
40.9
41.2
39.6
40.4
38.8
38.8
39.6
39.2
38.9
37.8
36.8
37.1
37.6
41.7
41.9
41.7
40.6
39.9
39.8
40.4
40.1
1,063
1,058
103. 4
100.0
plOl.5
v 100. 6
p 102. 3
p 100. 7
138.4
139.6
142.8
p 143. 8
39.7
40.1
40.1
39.7
40.1
40.1
39.9
40.4
40.5
'40.2
MO. 8
MO. 8
p 40. 5
p 41.1
MO. 3
40.8
41.7
39. -5
40.3
38.4
38.3
41.5
42.2
40.6
40.7
39.1
38.4
41.3
41.9
41.2 i
41.2
39.9 i
38.9
Ml. 5
Ml. 4
Ml.O
Ml. 1
Ml. 4
P 41. 2
'39.3
?39. S
38.0
37.5
37.3
'40.4
' 41. 7
40.8
40.7
'39.3
38.5
37.4
40.0
40.3
39.8
40.2
'39.3
39.7
40."
40.7
40.0
40.5
'40.7
40.8
41.2
P 41. 5
PAYROLLS
Manufacturing product ion -worker payroll index, unadjusted (U. S. Dept. of Labor) 9
1947-49=100..
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor) : 9
All manufacturing industries
hours..
Durable-goods industries
_ _
_
do
Ordnance and accessories
do _ _
Lumber and wood products (except furniture)
hours. _
Sawmills and planing mills
do
Furniture and fixtures __
do - Stone clay, and glass products
__do
Glass and glassware, pressed or blown. .do
Primary metal industries
_ __do
Blast furnaces, steel works, and rolling mills
hours. _
Primary smelting and refining of nonferrous
metals
hours
Fabricated metal prod, (except ordnance, machinery, transportation equipment). .hours. _
Heating apparatus (except electrical) and
plumbers' supplies
hours
Machinery (except electrical)
do
Electrical machinery
_ _ do
Transportation equipment ...
do._ .
41.0
41.5
40.7
40.6
38.0
40.7
40.4
'40.0
40.1
39.1
39.4
38.4
39.3
39.3
38.6
39.3
39.8
P 40. 7
MO. 3
40.2
40.2
'40.3
40.5
40. C
40.1
40.5
41.1
41.3
41.2
42.0
41.6
MOM
MO. 7
40.4
39.8
40.1
39.3
39.6
39.5
39.2
39.9
39.6
39.3
40.2
40.3
40.4
M2.3
Ml. 6
40.2
'40.0
39.9
40.2
39.8
40.6
40.1
40.2
40.5
40."
40.4
40.9
40.0
'39.8
39.2
39.3
40.9
40.4
39.5
39.5
41.0
40.1
40.1
40.6
40.8
MO. 8
40.8
40.7
40.7
40.5
41.0
41.2
A • off n-nf] n ~ t<;
do
40.6
41.8
41. f
38.5
37.9
39.0
39.1
38.7
39.1
38.8
39.4
39.0
38.0
tJ>T
c\ h t h 1H '
d
'
d
39.6
37.8
38.4
38.3
'36.8
38.2
38.6
38.5
38.5
39.2
39.5
39.2
39.6
38.7
Railroad equipment
do
' 40. 3
P 40. 9
40.0
39.9
39.5
39.5
39.8
39.6
40.2
40.4
39.6
39.9
41.3
41.3
Instruments and related products
do MO. 4
P 40. 8
40.4 |
39.9
'40.0 1
Miscellaneous mfg. industries
do— .
40.7 1
40.
39.4
40.1
40.0
39.2
39.4
39.6
39.0
2 D ata beginning Janu' Revised.
v Preliminary.
1 Includes temporary Post Office employees hired during Christmas season; there were about 289,000 such employees in all are*.is.
ary 1954 are revised to include additional employees now classified as Federal employees although they are paid from funds appropriated to t he Distric t of Colurnbia. Ao justed data for December 1953, comparable with January 1954: Continental U. S., 2,454,300; Wash., D. C., 212,400.
9 See corresponding note on p. S-ll.
. .
cfData beginning January 1953 exclude employees in the General Accounting Office and Government Printing Office who were transferre I to the le gislative 1Branch; eiuployment in these
agencies at the end of January 1953 was as follows: Continental United States— GAO, 6,200; GPO, 7,700; Wash., D. C.— GAO, 4,600; GPO, 7,400. Also, the data bein'nning Ja nuary 1953 exclude
t1,300
onn employees
,vrr>i-»i«TTnGo of
nf Howa,~
TT/i-inrov/i TTnii'pr«it"V7
who a.rp not. now rlassified n,s Federal emnlovees.
In addition
to the
~ ^ , _ _ ^ onri Ofllianrlpt Pnllpcrp
. ~
,
_ aforei
_ nentioned exclusioiis. the Jaimary 1953 figure for
0_
Continental U. S. reflects a downward revision of approximately 16,000 employees based on more accurate reports from the Post Office Department.
SURVEY OF CURRENT BUSINESS
January 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-13
1954
January
February
March
April
May
June
July
Septem- October Novem- December
ber
ber
August
EMPLOYMENT AND POPULATION—Continued
LABOR CONDITIONS— Continued
Average weekly hours per worker, etc.— Continued
All manufacturing industries, etc. — Continued
Nondurable-goods industries 9 _
hours.
Food and kindred products
do
Meat products
do
Dairy products
do
Canning and preserving
do
Bakery products
do
Beverages
do
Tobacco manufactures
do
Textile-mill products _ _ . _
. _ _ do_._
B road-woven fabric mills
do
Knitting mills
do
Apparel and other finished textile products
hours _ _
Men's and bovs' suits and coats
do
Men's and boys' furnishings and work clothing
hours
Women's outerwear
do
Paper and allied products
do Pulp, paper, and paperboard mills
do
Printing, publishing, and allied industries
hours-.
Newspapers
do
Commercial printing
do
Chemicals and allied products
do
Industrial organic chemicals
do
Products of petroleum and coal
do
Petroleum refining- ._
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products
.
do
Footwear (except rubber).
.do
Nonmanufacturing industries: 9
Mining:
Metal
do
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production hours
Nonmetallic mining and Quarrying
do
Contract construction
do
Nonbuilding construction
do
Building construction _
do
Transportation and public utilities:
Local railways and bus linesj
do
Telephone
do
Telegraph
do
Gas and electric utilities
do
Wholesale and retail trade:
Wholesale trade
do
Retail trade (except eating and drinking places)
hours
General-merchandise stores
do
Food and liquor stores
do
Automotive and accessories dealers. .. do
Service and miscellaneous:
Hotels year-round
do
Laundries
do
Cleaning and dyeing plants
do
39.1
41.4
43 2
43.0
37 0
41.0
39 9
38.3
38.2
38.5
37 2
39.3
41.3
41 6
43 5
37 9
41.0
40 1
39.3
38.4
38.6
37 1
38.5
40 9
41 5
43 1
37 7
40.8
39 3
36.2
37.4
37.5
36 1
38.8
40.5
39 7
43.3
37 5
41.0
40 0
35.9
38.0
37.9
37 0
38.8
40 4
39 7
43 2
36 7
40 8
40 1
36 0
38.0
38 0
36 9
38.1
40.2
39 5
43.3
36 2
40.9
40 5
36.3
37.1
37.2
35 6
38.5
40.8
40.4
43.4
38 0
41.0
40.3
37.3
37.3
37.1
36.1
38.9
41.4
41 0
44.6
38 6
41.4
41 1
38.3
37.8
37.6
36 9
39.0
41.5
41 7
44.6
39 4
41. 1
41 5
37.9
37.8
37.8
36 6
39.2
41.2
40 9
43.2
40 5
40.8
40 6
38.5
38.5
38.4
37 6
39.3
Ml. 5
Ml. 2
M3.6
MO. 8
41.0
MO. 6
'39.4
'38.6
"•38.7
37.5
39.2
40.9
41.5
43.3
38.5
40.8
40.5
39.9
39.2
39.5
38.3
r
39.5
r
p39. 8
Ml 5
r
36. 9
r
39. 9
p 36. 6
MO.l
35.6
35 7
35.9
36 6
34.8
34 9
36.1
36.0
36.2
35 6
34.3
32 9
34.9
32.9
35.0
34 0
35.2
35.5
36.2
35 0
' 35. 9
35.4
35.7
32.6
36.1
"36.3
35 S
34.3
42.9
44.0
35 7
35. 5
42.8
44.0
34 4
34.5
41.9
43.4
35.9
35.7
41.9
43.3
36.1
35.9
42.1
43.4
34 6
33.8
41.6
42.8
34.8
34.8
42.1
35.4
33.7
42.4
43.6
35.5
34. 1
42.4
43.8
36 9
35 2
42.6
43 6
r
36.9
33.9
42.7
43.6
r
42.8
M2. 8
r
38. 5
*>39. 1
r
41. 3
Ml. 5
40. 8
P 39. 9
43.
36. 7
'34.1
42.5
M3.6
41.
41.
39.
39.
35.
34.
38.3
36.1
39.0
41.2
41.0
41.4
41.0
40.2
40.2
36.7
35.9
38.3
35.8
39.5
40.9
40.5
41. 1
40.8
39.4
38.5
37.5
37.2
38.5
35 6
39.4
40.9
40 5
41 0
40.7
39 1
37.4
37 4
36.9
38.6
' 36. 0
39.4
41.2
40.9
41.2
MO. 6
'39.3
'38.3
r
36. 2
'35. 1
38.6
36. 3
39.4
41.1
40. 5
40. 8
40. 5
40.3
39.1
35.8
34.4
39.8
26.2
28.9
40.0
25.4
30.9
40.7
36.3
33.2
40.4
29.2
30.4
40.9
33 0
33. 1
MO. 4
23.6
'32.6
39.8
34.2
35. 4
40 2
42.9
37.0
39.7
36.4
40. 2
43.4
37.0
39.3
36.5
41.3
44.5
37.5
40.6
36.7
40.1
44.9
38.1
41.8
37.1
40.6
45.2
38. 1
42.3
36.9
41 4
45 1
38.0
42 0
37.0
r
40 8
r
44.7
r
36.8
r
40.1
44.7
37. 4
40.5
36.6
43.2
38.2
41.2
41.0
43. 1
38.2
42. 1
41.0
43.3
38.5
42.1
41.0
43.7
38.7
41.7
41.2
42.9
39.2
41.7
41.5
43
38
41
41
M2
MO
41
r
41
7
0
9
7
42.5
39.7
42.1
41.9
40 4
40.7
38.8
36.3
40.1
41.3
40 4
40.8
40.7
39.4
38.5
36.1
34.7
39.3
37.
40. 5
41.5
40 7
40.7
40."
39.2
37.3
37.7
37.2
38.4
35.6
39.9
41.1
40 5
40.5
40.5
38.7
37.5
37.6
37.4
38. 2
35.6
39.3
41.1
40.4
40.3
40.2
38.9
37.4
38.0
37.9
38.6
35.7
39.8
41.1
40 2
40.2
40.2
38.5
36.6
37.7
37.3
38.1
35.9
39.3
41.1
40 3
40.3
40.2
38.7
37.9
35.6
34.9
38.
36.
43.2
25.6
32.6
44.0
26.2
33.3
43.6
28.6
33.2
41.7
29.7
32.0
40.5
25.6
29.7
41 4
44.5
37.2
39.4
36.7
40 2
44.0
36.8
39.
36.3
40 7
41.0
34.3
36.0
33.9
40.3
42.9
36.7
39.8
36.0
44.1
38.8
41.2
41.7
44.5
38. 5
41.
41.6
44.4
38.2
40 9
41.3
43.4
38.0
41.4
41.1
39.
40.
40.
0
9
8
3
39.9
36.0
40.5
40."
40.2
40.2
40.2
40.2
40.4
40.4
40.4
40 4
38.8
34 5
38.3
44.5
39.2
36 3
38.6
44.4
39.0
34 9
38.3
44.2
39.1
35 0
38.2
44.4
39.1
35 2
38.3
44.4
39.1
35 5
00 0
44.5
38.9
34.7
38.1
44.3
39.3
35.3
38.8
44.4
39.8
36.2
39.6
44.4
39 7
36 0
39 3
44.3
'39
35
r
38
r 44
2
2
7
2
38.9
35.1
37.8
44.3
42.2
40 0
39.3
41.9
40 6
39.9
41.8
39 7
38.?
42.0
39 8
38.6
41.9
39 6
39.2
41.7
40 4
42 0
41.8
40.3
40.1
41.9
40.5
41.0
41.7
40.0
38.8
41 8
39 4
38 2
41 9
MO 1
39 7
42.2
40 5
40 3
41.4
r
r
41. 2
P 42 3
r
36. 9
v 38.6
Industrial disputes (strikes and lock-outs):
Beginning in month:
375
350
225
350
200
281
145
250
300
300
225
Work stoppages
-- number
350
350
230
180
70
180
100
76
80
Workers involved
thousands
130
100
50
170
140
130
In effect during month:
575
550
500
354
400
502
375
350
400
Work stoppages
number
450
500
550
550
370
230
280
140
173
200
100
175
150
Workers involved
thousands
150
280
300
280
3, 750
2,200
1,750
Man-days idle during month
do
1,200
1,570
1,880
1,300
750
1,000
1,200
1 800
3 600
2 400
.24
.43
.21
.14
. 14
.09
.20
.12
Percent of available working time
.__
.18
.13
.21
.39
27
U. S. Employment Service placement activities:
439
470
439
426
378
391
333
433
353
Nonagricultural placements-.- - _ _
thousands _
428
487
478
520
Unemployment compensation, State laws (Bureau of
Employment Security):
1,335
1,272
1,227
1,241
1 442
1,340
1,749
1,616
1,392
1 194
Initial claims t
thousands
1 157
1 123 r I }QO
1,862
1,924
2,070
1,509
2,034
2,181
2,170
Insured unemployment, weekly average*
do
1, 463
2,175
1,115
1,692
l! 466
1,580
Benefit payments:
1,597
1,850
1,124
1,818
809
1,592
1,894
Beneficiaries, weekly average
do
1, 953
1,864
1,223 p 1,616
1.299
1,414
1,523
78, 979 120, 780 158, 418 179,284 215, 650 200, 837 185, 601 190, 959 167, 980 162, 653 153. 737 135.299 132, 089
A mount of payments
thous. of doL _
Veterans' unemployment allowances:^
34
29
39
24
38
33
38
30
35
Initial claims
_ .
-thousands
28
34
28
36
82
77
79
82
45
64
Insured unemployment, weekly average _ _ -do ._.
87
78
31
68
85
75
65
97
94
97
89
32
47
69
Beneficiaries, weekly average-.do
101
103
73
92
100
9,894
8,975
6,599
9, 755
8,085 1 0, 840
5,043
Amount of payments - _.
thous. of dol
3,096
10, 153
10 238
9 444
7 520
7 377
Labor turnover in manufacturing establishments:
2.9
2.1
3.5
2.4
2.7
2.8
2. 7
2.8
2.5
Accession rate
-.monthly rate per 100 employees-3.3
3.4
3.6
v 3.3
r 3 3
3.1
4.2
4.0
3.5
4.3
3.8
3.3
Separation rate, total
do
3. 1
3 5
3.7
p 2 9
3 9
2
2
P 9
.2
2
.2
.2
.2
.2
2
.2
.3
Discharge
_.do
17
1.6
2.2
1. 7
2.4
1.9
2.3
2.3
2.5
2.8
Lav-off
do
1 7
v 16
M 69
1.1
1. 1
1. 1
1.0
1.1
1.0
1.0
1.1
Quit
-_-_do
1.5
1 4
1
1*8
p10
.2
9
2
.2
.2
.2
Military and miscellaneous
do
.3
.2
.3
.2
v 2
.3
.3
r
Revised.
» Preliminary.
9 See corresponding note on p. S-ll.
{Revised to include only privately operated lines; data shown in the March 1954 SURVEY and earlier issues cover both privately operated and government-operated lines.
{Revised series. Beginning with the February 1954 SURVEY, data have been revised to exclude transitional claims and, therefore, more closely represent instances of new unemployment.
*New series. Compiled by the U. S. Department of Labor, Bureau of Employment Security. Data for insured unemployment for continental TJ. S. (excluding Alaska) have been substituted for the series on number of continued claims filed. The insured unemployment series is derived by adjusting the number of weeks of unemployment for the lag between the week of
unemployment and the time the claim is filed, so that the adjusted series refers to the week in which unemployment actually occurred. The monthly figures are averages of weekly data adjusted for split weeks in the month on the basis of a 5-day week. Weekly averages for 1952 appear in the February 1954 SURVEY.
cf Beginning with the February 1954 SURVEY, data for veterans' unemployment allowances cover only unemployment compensation benefits under the Veterans Readjustment Assistance
Act of 1952. The figures for initial claims exclude transitional claims; the insured unemployment figures exclude claims from veterans which were filed to supplement benefits tinder State or
railroad unemployment-insurance programs to eliminate duplicate counts in the State data shown above; the number of beneficiaries and the amount of payments include all veterans whether
or not the payments supplement benefits under either State or railroad insurance programs.
SURVEY OF CURRENT BUSINESS
S-14
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 1955
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
EMPLOYMENT AND POPULATION—Continued
WAGES
Average weekly gross earnings (U. S. Department of
Labor) : 9
All manufacturing industries
_ dollars
Durable goods industries
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
dollars _ _
Sawmills and planing mills
do
Furniture and
fixtures
. do
Stone, clay, and glass products
do
Glass and glassware, pressed or blown. _ . do
Primary metal industries
_ _ do _ Blast furnaces, steel works, and rolling mills
dollars .
Primary smelting and refining of nonferrous
metals
dollars
Fabricated metal prod, (except ordnance, machinery, and trans, equip.)
dollars _
Heating apparatus (except electrical) and
plumbers' supplies
dollars
Machinery (except electrical)
- do
Electrical machinery
__ _ _
_
do
Transportation equipment
Automobiles
Aircraft and parts
Ship and boat building and repairs
Railroad equipment
Instruments and related products _ _
Miscellaneous mfg industries
Nondurable-goods industries
Food and kindred products
M^eat products
Dairy products
Canning and preserving
Bakery products
Beverages
72. 36
77.52
78.94
70.92
76.59
77.60
71.28
76.38
78.40
70.71
76. 00
79.19
70.20
75. 43
78.21
71.13
76.21
78.80
71.68
76.40
79.40
70.92
75.83
79.80
71.06
76. 59
80.20
71.86
' 77. 39
r 80. 60
72.22
77.97
81.41
65.20
65.76
63. 49
71.05
70.13
82.78
64.32
64. 64
63.90
71.23
69.34
82.78
62.65
62.72
61.78
69.48
68.64
81.74
63. 76
63.92
62. 16
70.70
70.09
79.52
64. 40
64. 96
62. 56
70. 30
70.49
78.28
65. 93
65. 77
61.00
70.18
68.94
77.90
67.03
67.23
60.53
71.10
69.81
79.49
68.71
68.80
62.17
70.70
69. 45
80.70
63.24
64. 64
62. 02
71. 33
69. 50
80.81
65.57
67.10
63.74
72.04
70.77
80. 64
' 67. 47
r 70. 06
64.46
72.85
r
71. 53
' 82. 39
69.38
70.39
65.10
73.34
72.22
82.47
r
84. 90
84.74
T
73. 57
'r 79. 15
82. 01
p 74. i:
p 80. Ic
P81.81
' 69. 31 * 68. 31
r
r
64. 78
73. 98
v 65. 41
P 73. 34
r
84. 10
v 85. 57
83.22
84.00
82.43
78.40
79.39
79.60
79.60
' 79. 39
79.80
77.33
76.92
75.60
76.95
' 77. 74
78.34
79.52
p 80. 10
76. 92
81.61
73.93
'81.31
r 74. 48
p 83. 03
P 73. 93
86.33
85. 46
84.80
81.27
79.12
79.39
81.22
82.98
82.54
83.40
79.98
78.20
78.41
76.67
78.02
76.92
76.33
75. 95
75.39
72. 31
82.78
72.14
73.63
84.42
72.36
71.80
82.40
70.74
73.10
82. 60
72.22
73.10
82.20
71.28
70.66
81.00
70.56
73. 28
81. 61
71.50
74.59
81.41
72.07
72.34
80.60
71.53
75.14
80.80
72.04
' 75. 20
"81.81
72.98
do
do
do
do
do
do .do
84.84
87.02
84.03
78.62
80.11
74.75
65. 12
85.88
87.42
85.27
82.37
82. 76
75.17
65. 53
85.86
89.79
83.23
78. 66
82.32
72.22
63.43
84.82
85. 72
85. 28
81.12
82. 95
73. 12
64.16
84.21
84.93
84. 46
81 . 95
81.93
72. 76
64.00
84.82
87. 26
83.43
80.70
80.08
72.07
62.72
85. 67
88.34
83. 84
80.94
80. 85
72.07
63.43
84.59
85.28
84. 86
80. 55
81.45
72. 83
63. 36
84.38
85.06
84.66
80.11
80.60
72.29
62. 79
85.63
88.00
85. 27
81.12
81.79
72.29
63. 84
'r 86. 00
89. 15
' 85. 68
78.83
'78.02
73.82
r
64. 40
86.86
90.39
85.67
80.85
82.35
74.00
65.04
r 90. 69
^92.64
r
r
p 76. 07
* 66. 1C
do
dodo
do
do
do
do
63.73
68. 31
82.51
67.94
49.95
65.60
75.41
64. 45
68. 15
76. 54
68.73
53.44
66. 42
75.39
63. 53
68. 71
76.78
69. 39
55.04
66.10
75.06
64. 02
67. 64
73. 05
69. 71
54. 38
66.42
76.80
64.02
67.87
73.05
69.12
53.95
66. 50
77.79
62. 87
67.54
72.68
68. 85
52. 85
67.08
78.57
63. 91
68. 54
74.74
69. 01
54. 72
67. 65
78.18
64.57
69. 55
75. 85
71.36
53 27
68. 31
80. 56
64.74
69.72
77.98
71.81
54 77
68. 64
82.17
64.68
67.57
76. 07
69. 55
55. 89
68.14
' 78.76
65.24
68. 48
77. 87
71.07
' 56. 30
68.88
T
79. 17
65.07
68.30
78.02
71.01
53. 52
68. 54
78.57
' 65. 97 p 66. 47
' 70. 79 P 70. 97
47.49
52. 33
51. 21
48.73
49. 13
52. 61
51. 34
48. 60
45.97
50.86
49.13
47.65
46. 31
52 06
50. 03
48.84
47. 52
51.68
50. 16
48, 71
49.01
50. 46
48.73
46.99
49. 9S
51. 10
48.97
47. 65
51. 71
51. 41
49.63
48.34
51.54
51.41
49.52
47.58
49.67
52. 36
50. 69
48.88
* 48. 86
52. 50
51.08
49.13
49.88
53.31
52.14
49.79
r
r
48.06
57.48
48.82
58.19
47.68
55.84
49. 46
57.96
49. 59
57.32
45.62
52.64
46.07
52.97
46.55
55.08
47.17
56.80
48.87
57.05
' 48. 82
'57.35
47.84
52.81
' 48. 37 P49.3'
40.81
50.76
73.36
80.08
40.70
53.61
73.62
80.08
39. 56
52.44
72.07
78. 55
41.29
54. 62
72.07
78.37
41.15
54. 93
72.83
78.99
39.10
49.01
71. 55
77.47
39.67
49 76
72.83
78.19
40.00
48. 53
74.20
79.79
39.76
50. 81
74.62
81.47
41.70
53. 15
74.98
81.10
'41.84
52. 17
75.23
"81.97
42.07
50.51
75.58
81.53
Tobacco manufactures
do
Textile-mill products
_
do _
Broad -woven fabric mills
do
Knitting mills
do
Apparel and other finished textile products
dollars _ _
Men'sand boys' suits and coats
do
Men's and boys' furnishings and work clothing
dollars..
"Women's outerwear
do
Paper and allied products
do
Pulp, paper, and paperboard mills
do
Printing, publishing, and allied industries
dollars-Newspapers
do
Commercial printing
__ _ _ _ _ .
do
Chemicals and allied products
do
Industrial organic chemicals
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products. _ __ _ do . _ .
Footwear (except rubber) ..
_
do
Nonmanufacturing industries:
Mining:
Metal
_do
Anthracite
do
Bituminous coal___
.
do
Crude-petroleum and natural-gas production:
Petroleum
and
natural-gas production
dollars^Nonmetallic mining and quarrying
do
Contract construction
do
Non building construction
do
Building construction
do
Transportation and public utilities:
Local railways and bus linesj
do
Telephone
do
Telegraph
do
Gas and electric utilities
do
Wholesale and retail trade:
Wholesale trade
do
Retail trade (except eating and drinking
places)
dollars
General-merchandise stores
_ _ _ _do _
Food and liquor stores
do
Automotive and accessories dealers
do
Finance, insurance, and real estate:
Banks and trust companies
do _
Service and miscellaneous:
Hotels year-round
do
Laundries
do
Cleaning and dyeing plants
do
r
Revised.
» Preliminary.
9 See corresponding note on p. S-ll.
t Revised series. See note marked "}" at bottom of p.
71.60
76.73
76 21
86.14
92.57
85.41
76.82
81.20
88.43
96.87
86.67
77.61
81.81
86. 02
90.07
85. 79
76.86
81.41
85. 95
90.42
84. 50
76.86
81.20
86. 85
90. 68
85. 57
76. 86
81.20
86.11
92 2f
84'. 50
77.27
82.62
86.71
93. 86
84. 46
77.71
82. 62
86.94
93.50
85.02
79.10
84.05
86.94
92.01
85.72
79.35
84.24
87.40
91.85
85. 10
78.94
83.43
r
r
r
r
T
T
47. 60
54. 66
p 47. 21
p 54. 94
' 75. 76 p 75. 7t
88.39
95.47
85.89
78.50
83.43
r
88. 17
P 89. 9C
r
79. 71
p 80. 51
95.58
97. 85
77. 81
'r 86. 18
49. 96
' 46. 68
93.02
95.99
81.41
90. 71
49.76
45.75
T
93. 43
p 90. 9"
r
83. 22
p 86. 2<
r
50. 92
p 53. 2'
88.39
' 94. 68
85.89
* 79. 52
'85.07
92.21
96.46
75. 65
85. 09
49.82
45.80
91.98
96. 05
75. 66
82. 43
52. 03
49.10
91.53
95. 58
75.08
82.88
51.89
49.37
90.68
94.47
75. 47
83. 03
52. 44
50.41
90.45
94.47
74.31
80.89
52. 40
49.98
91.08
94.87
75. 08
84.14
49.13
46. 42
93. 52
97.17
77.81
88. 65
49. 21
45. 89
93. 98
97. 17
79. 60
92.06
51. 01
47. 75
94.53
97. 51
76. 83
87.01
51.38
48.73
93.07
96. 05
76. 25
85. 65
51. 24
48.71
90.72
63.49
81.17
92.40
64. 71
82. 25
92. 00
70. 93
82.34
85. 49
74.84
79.04
82.62
63.74
73. 06
81.19
64.45
71.67
82.00
62.74
76.32
83. 84
96. 20
83. 00
83. 63
73.58
75.39
83. 85
82. 50
82. 09
' 84. 03
56.88
r
81.17
81.99
86.53
87.79
94.39
76.99
93.00
91.01
93. 59
90.45
76.12
92.37
89.93
93.29
92.80
70.93
87. 12
83.88
87. 46
91.08
73. 79
92. 85
91. 14
93.24
90. 45
74.22
93.24
90. 12
94.28
90.45
75.08
92.87
89.60
94.17
94.58
77.88
94. 50
93.79
94.69
90. 63
78.58
95. 63
96.14
95. 72
92.57
80.46
95. 63
97.29
95.20
93.98
79.83
95. 38
97.44
96. 20
'93.02
r
79 57
r
93. 84
r
92. 97
94.32
90. 63
79 57
95.37
94.37
95.89
77.18
67.90
73. 34
82.98
77.43
65.84
73. 16
82.37
78.59
65.70
72.80
81.77
77.25
65. 74
73.69
80.97
77.33
65. 70
73.75
80.77
77. 58
66. 09
75.78
80.77
77.94
67.38
75.78
81.59
79. 10
67. 34
77.15
82.40
78. 51
68.60
77. 15
83.83
78. 26
67. 69
77.33
83.43
T
78. 14
'71.60
77. 93
' 85. 49
77.35
71.06
78. 31
86. 31
r
T
72.50
73. 26
72.75
72.36
72.76
73.16
73.93
73.93
74.34
74.34
'74.74
75.30
55. 10
38.64
59. 75
74.32
54. 49
39. 93
59. 83
72.37
55.77
40. 14
59.75
71.60
55.91
39.90
59. 59
72.82
55. 91
40.13
59. 75
73.26
55. 91
39.76
59.75
74.76
56. 41
39.91
59.82
75.75
57. 38
41.30
60. 92
76.37
58.51
42.35
62.57
76.37
58. 36
41. 76
62.09
75.75
' 57. 62
40. 83
' 61. 53
' 74. 70
57.18
40. 72 _.
60.48
75.31
55.33
55. 68
56.51
56.79
56.47
56.76
57.19
57.09
57.66
57.75
r
57. 71
57.74
39.67
40. 00
45.98
39.81
40.60
46.68
39. 71
39. 70
45. 08
39.90
39.80
45.55
39.81
39.60
46.26
39.62
40.80
50.40
40.13
40.30
47.32
39. 81
40.50
49.20
40.03
40.00
45.78
40.13
39.40
45. 46
40.64
' 40. 50
47.24
40.93
40.50
47.96
S-13.
74. 56
65. 04
.
SURVEY OF CURRENT BUSINESS
January 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-15
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
EMPLOYMENT AND POPULATION—Continued
WAGES— Continued
Average hourly gross earnings (U. S. Department of
of Labor) : 9
All manufacturing
industries
dollars
Durable-aoods industries
-do
Ordnance and accessories
do
Lumber and wood products (except furniture) _ _ _
dollars..
Sawmills and planing mills
do
Furniture and fixtures
do
Stone clay and glass products
do
Glass and glassware, pressed or blown
do
Primary metal industries
do
Blast furnaces, steel works, and rolling mills
dollars ._
Primary smelting and refining of nonferrous
metals
dollars
Fabricated metal prod, (except ordnance, machinery, transportation equipment). .dollars _ _
Heating apparatus (except electrical) and
plumbers' supplies
dollars .
Machinery (except electrical) __ __
-do
Electrical machinery
-do _.
1 79
1.89
1 91
1 80
1.90
1 93
1 80
1 91
1 94
1 80
1 90
1 96
1 79
1 90
1 97
1 80
1 90
1 97
1 81
1 91
1 Q7
1 81
1 91
1 98
1 80
1 91
1 99
1 79
1 91
2 00
1.63
1 64
1 56
1 75
1.78
2 08
1.60
1 60
1 57
1 75
1. 76
2 08
1.59
1 60
1 56
1 75
1 76
2 08
1.59
1 59
1 55
1 75
1 77
2 06
1.61
1 60
1 56
1 74
1 78
2 06
1.64
1 62
1 56
1 75
1 80
2 05
1.68
1 66
1 56
1 76
1 79
2 07
1.68
1 67
1 57
1 75
1 79
2 08
1.55
1 55
1 57
1 77
1 81
2 11
1.58
1 59
1 57
1 77
1 81
2 10
2.18
2.18
2.18
2.15
2.15
2 14
2 16
2.19
2.24
2.21
1 81
1 93
2 01
r
r
r
r
r 2 14
1.68
1 68
1 58
1 78
1 81
2 12
'2.27
2.23
r
1 81
1 93
r 2 01
1.67
1 68
1 58
1 79
1 82
1 83
1 94
2 01
p 1 83
P 1 95
p 2 03
1.67
pl.65
1 58
1 80
P I 58
p 1 78
2 14
p 2 15
r
r
1 99
1.97
2 00
1 97
1 96
1 97
1 96
1 97
2 00
1 98
2.02
2.01
1.87
1.88
1.89
1.88
1.88
1.88
1.90
1.89
1.89
1.90
'1.91
1.92
1.93
*>1.93
1.84
1.99
1 79
1.85
2.01
1.80
1 86
2 00
1 80
1 86
2 00
1 81
1 86
2 00
1 80
1 84
2 00
1 80
1 86
2 01
1 81
1 86
2 01
1 82
1 85
2.01
1 82
1 86
2.01
1 81
'1.88
2.03
1.82
1.89
2.03
1.83
° 03
1 83
p 2 04
p 1 83
2.10
2.17
2.02
2.08
2.07
1.81
1.60
2.11
2.18
2.04
2.08
2.09
1.82
1.61
2 12
2.19
2 05
2.07
2 10
1 81
1.61
2 11
2.17
2 07
2.08
2.10
1 81
1.60
2 10
2.15
2 06
2.08
2 09
1 81
1.60
2 11
2 16
2 06
2 08
2 08
1 82
1 60
2 11
2 16
2 06
2 07
2 10
1 82
1 61
2 12
2 17
2 08
2.06
2 11
1 83
1 60
2 12
2.17
2 08
2.07
2 11
1 83
1 61
2 13
2.20
2 09
2.08
2 13
1 83
1 60
2.15
2.24
2.10
2.08
2.12
1.85
1.61
'2.15
2.21
2.11
2.10
2.15
1.85
1.61
2 18
p 2 19
T
1 85
I 61
p 1 86
p 1 62
do
do_ _
do
do
do _
do _ _
_do_ __
1 63
1.65
1.91
1 58
1.35
1.60
1.89
1.64
1.65
1.84
1 58
1.41
1.62
1.88
1 65
1 68
1 85
1 61
1 46
1.62
1 91
1 65
1.67
1 84
1 61
1 45
1 62
1 92
1 65
1 68
1 84
1 60
1 47
1 63
1 94
1 65
1 68
1 84
1 59
1 46
1 64
1 94
1 66
1 68
1 85
1 59
1 44
1 65
1 94
1 66
1 68
1 85
1 60
1 38
1 65
1 96
1 66
1 68
1 87
1 61
1 39
1 67
1 98
1 65
1 64
1 86
1 61
1 38
1 67
1 94
1.66
'1.65
1.89
1.63
r
1 67
1 71
p 1 67
p 1 71
1.68
1.95
1.66
1.67
1.88
1 64
1.39
1.68
1.94
Tobacco manufactures
do
Textile-mill products
___ do Broad-woven fabric mills. ... _ _
do, _
Knitting mills
do
Apparel and other finished textile products
dollars..
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing. _
__ _ _ dollars _
Women's outerwear _
_ _ do
Paper and allied products
do
Pulp, paper, and paperboard mills
do
Printing, publishing, and allied industries-do
Newspapers _ _ _
. . . do
Commercial printing,
do_
Chemicals and allied products .
do
Industrial organic chemicals _ ... _. do.
1 24
1.37
1.33
1 31
1 25
1.37
1.33
1.31
1 27
1 36
1.31
1 32
1 29
1 37
1.32
1 32
1 32
1 36
1 32
1 32
1 35
1 36
1 31
1 32
1 34
1 37
1 32
1 32
1 35
1 36
1 32
1 31
1 36
1 36
1 31
1 30
1 29
1 36
1 32
1 30
"1.24
1.36
1.32
1.31
1.25
1.3f
1.32
1.30
1 29
1 37
p 1 29
p 1 37
1.35
1.61
1. 36
1.59
1.37
1.60
1.37
1.61
1.37
1.61
1.33
1 60
1.32
1 61
1.33
1.62
1.34
1 60
1.35
1 63
1.36
'1.62
1.34
1.62
1.34
p 1.36
1.14
1.48
1 71
1.82
2.22
2. 55
2.13
1.86
2.01
1.14
1.51
1 72
1.82
2.25
2.59
2.14
1.87
2.01
1 15
1.52
1 72
1.81
2.24
2 53
2.15
1 87
2.01
1 15
1.53
1 72
1.81
2.25
2 54
2.15
1 87
2.01
1 14
1.53
1 73
1.82
2.25
2 54
2.15
1 87
2.02
1 13
1 45
1 72
1 81
2.2C
2 57
2 15
1 88
2 05
1 14
1 43
1 73
1 81
2.27
2 60
2 16
1 90
2 04
1 13
1 44
1 75
1.83
2.27
2 59
2 18
1 92
2 05
1 12
1 49
1 76
1 86
2.27
2 57
2 17
1 94
2 08
1 13
1 51
1 76
1 86
2.27
2 58
2 16
1 93
2 06
1.14
1.53
1.77
1.88
2.29
2.63
2.18
r
1.93
'2.08
1.14
1.49
1.77
1.87
2.29
2.63
2.18
1.91
2.06
Products of petroleum and coal
do._
Petroleum refining
_
do
Rubber products
_ ___ _
do._
Tires and inner tubes.
_ ___ _ _ _do _
Leather and leather products- _
do__
Footwear (except rubber)-.
do_
Nonmanufacturing industries:
Mining:
Metal-- -_
do
Anthracite _
_ _ _ _ _ _
_ _ _ _ _ d o .
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas prod
_ dollars
Nonmetallic mining and quarrying
__do _
Contract construction
do
Nonbuilding construction _ _
___
do
Building construction
do
Transportation and public utilities:
Local railways and bus lines J
do__ _
Telephone--do
Telegraph
_
do
Gas and electric utilities _ _
__
do _
Wholesale and retail trade:
Wholesale trade
do
Retail trade (except eating and drinking places)
dollars _ _
General-merchandise stores
do
Food and liquor stores,
do
Automotive and accessories dealers
do
Service and miscellaneous:
Hotels, year-round. _
__ _
__do
Laundries
do
Cleaning and dyeing plants
do
Miscellaneous wage data:
Construction wage rates (ENR):§
Common labor
dol. per hr
Skilled labor
_.
._ do
Farm wage rates, without board or room (quarterly)
dol. per hr _
Railway wages (average, class I) ... __
do
Road-building wages, common labor
do
2.26
2.37
1.92
2.21
1.38
1.32
2 26
2.36
1.93
2.21
1.38
1.32
2.36
1.94
2.21
1.38
1.32
2 25
2.35
1 94
2.22
1 38
1.33
2 25
2.35
1 93
2.21
1 39
1.34
2 26
2 3f
1 94
2 22
1 38
1 33
2 27
2 37
1 96
2 25
1 39
1 33
2 27
2 37
1 98
2 29
1 39
1 33
2 30
2 39
1 95
2 26
1 37
1 31
2 27
2 36
1 95
2 29
1 37
1 32
2.32
2.41
1.98
'2.25
1.38
1.33
2.28
2.37
2.02
2.32
1.39
1.33
2.10
2.48
2 49
2.10
2.47
2.47
2.11
2 48
2 48
2.05
2 52
2 47
2.04
2 49
2 46
2 04
2 46
2 48
2 05
2 47
2 47
2 06
2 65
2 50
2 07
2 52
o 48
2 05
2 50
2 48
'2.08
2.41
'2.49
2.06
2.53
2.48
2.28
1.73
2.50
2.31
2.55
2.25
1.73
2.51
2.30
2.57
2.28
1.73
2.54
2.33
2.58
2.26
1.72
2.53
2.29
2.59
2.25
1 73
2.52
2.27
2.59
2. 2o
1 73
2.51
2.28
2 58
2.29
1 75
2.52
2.31
2 58
2 2C
1 75
2.51
2.30
2 58
2
1
2
2
2
28
78
51
30
58
2 27
1 77
2 32
2 60
'2.28
1.78
2.55
2.33
2.62
2.2f
1.78
2.55
2.33
2.62
1.75
1.75
1.78
1.99
1.74
1.71
1.78
1.98
1.77
1 72
1.78
1.98
1.78
1 73
1.78
1.97
1.79
1 72
1.79
1.97
1.80
1 73
1.80
1 97
1.80
1 75
1.80
1 99
1.81
1 74
1.85
2 00
1.83
1 75
1.85
2 02
1.82
1 74
1.85
2 02
1.83
1.79
1.86
2.05
1.82
1 79
1.8(
2 0(
1.79
1.8@
1.81
1.80
1.81
1.82
1.83
1.83
1 84
1 84
1.85
1.85
1.42
1.12
1.56
1.67
1.39
l.K
1.55
1.63
1.43
1.15
1.56
1.62
1.43
1.1<
1.56
1.64
1.43
1.1<
1.56
1.65
1.43
1.12
1.56
1.68
1.45
1.15
1 57
1.71
1.46
1. 17
1.57
1.72
1.47
1 17
1 58
1.72
1.47
1 16
1 58
1.71
'1.47
1.16
1.59
1.69
1.47
1 16
1 60
1.70
.94
1 00
1.17
.95
1 00
1.17
.95
1 00
1.18
.95
1 00
1.18
.95
1 00
1.18
.95
1 01
1 20
.96
1 00
1 18
.95
1 00
1 20
96
1 00
1 18
9f
1 00
1 19
97
1 01
1 19
97
1 00
1 19
1.933
3.086
1 933
3 086
1 944
3 095
1 944
3 095
1 944
3 100
1 947
3 100
1 964
3 112
1 979
3 133
1 997
3 147
2 009
3 148
2 016
3 169
2
3
1.908
.90
1.943
1.61
1.902
.84
1.913
1.46
1. 939
1.916
.87
1.932
1.51
1 919
1 937
75
1 944
1 58
Transportation equipment
-. do
Automobiles _ _ _ _ _ _
_ __ _ __ _ __do
Aircraft and parts
_ _ do
Ship and boat building and repairs _ do
Railroad equipment
- do
Instruments and related products
__ do
Miscellaneous mfg. industries
__do _
Nondurable-goods industries
Food and kindred products
_ _ __
Meat products
Dairy products
Canning and preserving
_
Bakery products
_ __ _ _
Beverages
_ __
1.928
T--nr ?ieVKised*? * Prelimjnary.
? Seo corresponding note on p. S-ll.
skilled labor, Spo.loo.
° Jan. 1, 1955.
1.961
J Revised series. See note marked "J" at bottom of p. S-13.
r 1.38
01 Q
1 80
r
r
r
1 77
p 1 77
2.29
P2.30
1 93
p 1 94
2 29
i> 2 28
r 2 02
p 2 04
1 38
p 1 38
3
1 fiA
a
88
§ Rates as of Jan. 1, 1955: Common labor, $2.022-
SURVEY OF CURRENT BUSINESS
S-16
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 1955
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
FINANCE
BANKING
Acceptances and commercial paper outstanding:
Bankers' acceptances
mil. ofdol
Commercial paper ©
do
Agricultural loans and discounts outstanding of agencies supervised by the Farm Credit Adm.:
Total
mil. of dol
Farm mortgage loans total
do
Federal land banks
do
Land Bank Commissioner
do
Loans to cooperatives
do
Other loans and discounts
do
Bank debits, total (345 centers) t
New York City
6 other centerscf1
do
do
do
Federal Reserve banks, condition, end of month:
Assets, total _
_ _ _
_
mil. ofdol__
Reserve bank credit outstanding, total _ do_ __
Discounts and advances
do
United States Government securities _ _-do ._.
Gold certificate reserves
do
Liabilities, total
.. --do
Deposits, total
do
Member-bank reserve balances
do
Excess reserves (estimated)
do
Federal Reserve notes in circulation
do
Reserve ratio
percent. _
Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month :t
Deposits:
Demand, adjusted
_
.. mil. ofdol Demand, except interbank:
Individuals, partnerships, and corporations
mil. of doLStates and political subdivisions
. . do
United States Government
do
Time, except interbank, total
_ _ _ , do
Individuals, partnerships, and corporations
mil. of doLStates and political subdivisions..
do. ._
Interbank (demand and time)
do
Invsstments, total
_ _ _
_ do
U. S. Government obligations, direct and guaranteed, total _ _ _
. _ _- ._ mil. of dol
Bills
do
Certificates
_-.
_ __do
Bonds and guaranteed obligations
do
Notes
_
_.
-- do
Other securities
oio_
Loans (net) total
do
Commercial, industrial, and agricultural _ _ d o _ _ To brokers and dealers in securities
do
Other loans for purchasing or carrying securities
mil. of dol_Real-estate loans
do _ .
Loans to banks
do
Other loans
do
Money and interest rates :§
Bank rates on business loans:
In 1 9 cities
percent
New York City
do
7 other northern and eastern cities
do
11 southern and western cities
do
Discount rate (N Y F R Bank)
do
Federal intermediate credit bank loans
do
Federal land bank loans
do
Open market rates, New York City:
Acceptances, prime, bankers' 90 days
do Commercial paper, prime, 4-6 months
do
Call loans, renewal (N. Y. S. E.)
do
Time loans, 90 days (N. Y. S. E.)
do
Yield on U. S. Govt. securities:
3-month bills
_ _ _ .. _ - _ _ . - -do ..
3-5 year taxable issues
do
Savings deposits, balance to credit of depositors:
New York State savings banks
mil. of dol
V S postal savings
do
CONSUMER CREDIT (Short- and Intermediateterm)
534
595
574
564
378
651
2,189
1,197
1,180
17
373
620
140,992
50, 470
30, 477
545
716
580
735
356
647
2,271
1 228
1,212
16
350
693
616
641
589
679
312
772
2,368
1 257
1,242
15
304
808
168, 596 ' 154, 281 r 141, 926 '171, 354 r 154, 759 ' 149, 812 >• 163, 508
65, 367
56,115
62, 306
64, 965
67, 913 60, 479
59, 535
35, 557 30, 806 29, 341
31,159
33, 785
36, 666 33,152
586
635
360
619
623
694
335
734
563
794
609
803
687
762
768
769
319
822
325
814
2,381
1 275
1 261
14
339
767
369
703
377
658
154, 849
61, 155
31, 556
151, 503
58, 316
31, 526
149, 899
56. 744
30. 922
152, 321
58, 792
30, 706
156, 843
58, 787
32, 230
186, 317
73,817
38,217
50, 035
25, 401
297
24, 381
21,079
50, 035
20, 373
18, 722
471
25. 706
45.7
50,863
25, 944
398
24, 888
21, 030
50, 863
20, 457
18, 985
'518
26, 081
45.2
50, 872
25, 885
143
24, 932
21.033
50, 872
20, 371
18, 876
P265
26, 253
45.1
55, 472
56, 414
58, 445
r
r
57, 256
3, 865
3, 793
20, 122
57, 876
3,956
4,223
19, 941
60,117
3, 939
2, 597
20, 169
18, 699
1,220
14, 301
46, 088
589
747
51,150
26, 133
369
25, 095
21, 348
51,150
20, 669
19, 434
347
26, 455
45.3
52,315
26, 880
28
25, 916
21,354
52, 315
21, 422
20, 160
763
26, 558
44.5
50, 509
25, 437
156
24, 639
21, 274
50, 509
20, 688
19, 384
368
25, 885
45.7
50, 692
25, 688
350
24, 509
21, 270
50, 692
20, 934
19, 412
591
25, 757
45.6
50, 704
25,316
147
24, 632
21,278
50, 704
20, 773
19, 194
505
25, 487
46.0
50, 089
25, 382
172
24, 632
21,283
50, 089
20, 898
19, 528
684
25, 472
45.9
50, 494
25, 781
245
24, 812
21, 293
50, 494
21,143
19, 563
672
25,544
45.6
50, 759
25, 642
37
25, 037
21,239
50, 759
20, 808
19,011
599
25, 588
45.8
49, 746
25, 183
184
24, 325
21, 220
49, 746
20, 454
18, 702
939
25, 567
46.1
49, 174
24, 696
200
24, 023
21,117
49, 174
19, 805
18, 316
744
25, 566
46.5
49, 778
25, 183
132
24, 271
21, 129
49, 778
20, 264
18, 676
952
25, 601
46.4
54, 376
56, 217
55, 588
53, 913
51, 812
54, 108
53, 930
53, 319
54, 949
54, 066
55, 043
55, 727
3,685
3,410
18, 383
57, 817
3,963
2,594
18, 718
55, 831
4,093
2,275
18,779
54, 791
3,908
2,424
18,917
52, 824
4,232
3,838
19, 050
54, 488
4,308
2,671
19, 124
54, 597
4,418
2,982
19, 359
54,715
4,329
4,085
19, 637
55, 360
4,033
2,091
19, 808
54, 746
3, 939
3,247
19, 887
55, 884
3,756
2,605
19, 915
17,311
882
13, 062
40, 254
17, 596
932
13, 860
40, 282
17,619
970
12,948
40, 697
17,734
994
12,983
40, 133
17, 771
1,087
13,017
38. 738
17, 854
1,078
12, 794
40, 177
18,041
1,129
13,040
41,300
18, 304
1,146
13, 870
41, 945
18, 337 I
1,285 i
13, 406
42, 492
18, 433
1, 257
13, 772
44, 237
18, 520
1,195
13, 791
44, 194
18, 555
1,183
14,113
45. 669
18, 806
1,154
14, 273
45, 526
32, 792
2,394
5,399
18, 541
6,458
7,462
40, 268
23, 134
1; 877
32, 800
2,569
5,303
18, 517
6,411
7.482
41, 020
23, 380
2,248
32, 989
2.517
4,764
18, 952
6,756
7,708
39, 963
22, 638
2,180
32, 292
2,084
4,097
21, 313
4,798
7,841
39, 401
22, 407
1,907
30, 850
2,076
2,737
21, 388
4,649
7,888
39,317
22, 763
1,758
32, 160
2,987
3,045
21, 598
4,530
8,017
38. 941
22,
183
1
1, 744
33, 196
2,428
2,684
21, 502
6,582
8,104
39, 219
21, 599
2,141
33, 724
2,619
2,777
21, 654
6,674
8, 221
39, 136
21,884
2,379
34, 221
3,045
2,754
21, 742
6,680
8,271
38, 953
21, 524
2,005
35, 862
3,135
2, 559
23, 515
6,653
8,375
38, 541
20, 798
2,228
37, 106
35, 696
37, 358
2, 378
2,868
2,500
2,240
2,369
2,504
23, 801 ! 23, 936
23, 654
8,552
8, 688
6,670 |
8,563
8,498
8,730
39, 028 i 38, 844 ! 140,114
22, 214
21,015 ! 21, 104
2, 367
2.466 j
2, 403
36,902
2, 543
2,768
23, 391
8,200
8,624
141,008
22, 486
2,688
748
6,449
703
7,978
868
6,481
646
8,019
826
6, 486
541
7,924
811
6,478
679
7,754
847
6,522
241
7,825
849
6,553
500
7,753
915
6,592
895
7,721
899
6,671
186
7,772
875
6,718
699 1
7,787
!
904
6,831
574
7,866
941
6,902 1
533
7,893
991
6, 997
789
7,949
1,037
7,083
770
8,075
1,113
7,176
715
8,205
2.00
2.97
4.17
3.76
3.51
3.79
4.10
2.00
2.97
4.17
2.00
2.97
4.17
1.75
2.56
4.17
3.72
3.50
3.74
4.03
1.75
2.50
4.17
1.50
2.50
4.17
1.50
2.08
4.17
3 60
3.34J
3.61i
3.98!
1.50
2.08
4.17
1.50
2.04
4.17
1.50
2.00
4.17
3.56
3.29
3 57
3. 95
1.501
2.00!
4.17
1.50
2.00
4.17
1.50
1.96
4.17
1.88
2.31
3.25
3.13
1.88
2.25
3.25
3.13
1.88
2.11
3.25
3.13
1.68
2.00
3.25
3.13
1.48
2.00
3.13
3.01
1.25
1.76
3.00
2.88
1.25
1.58
3.00
2.88
1.25
1.56
3.00
2.88
1.25
1.45 i
3.00 I
'2.88
1.25
1.33
3.00!
2.88
1.25
1.31
3.00
2.88,
1.25!
1.31
3.00!
2.88-
1.25
1.31
3.00
2.88 !
l.?5
1.31
3.00
2.88
1.427
2.36
1.630
2.22
1.214
2.04
.984
1.84
1.053
1.80
1.01 1
1.71
.782
1.78
.650
1.79
.710
1.69
.892;
1.74!
1.007
1.80;
. 9871
1.85;
.948 j
1.90 j
1.174
1.94
14, 141
2,374
14, 341
2,360
14, 442
2,343
14, 500
2,326
14, 651
2,310
14, 694
2,291
14, 768
2,272 ,
14,914
2, 251
14. 943 '
2,230 :
14,993
"2,209
15,112
P2. 189!
15.150
^2.171.
15,252 i
*2,154 |
15, 475
]
r
i
28, 095
28, 372 1 28, 666
27, 833
28, 140
29, 537
28, 724
28, 725
28, 760
28,736' 28.856
28.975! 29,209
Total outstanding, end of month 9
mil. of dol__
21, 426
21, 487 j: 21,717
21, 582
21, 381
21, 836
22, 187
21, 907
21, 849
21,901! 21.935
21.952' 22,014 I
Installment credit total $
do
10, 168
9,942
9,919
10, 002
10, 341
10, 298
10, 010
10, 158
10, 404
10,349
10,365
10,340! 10,296
Automobile paper
do
5,367
5,413
5,
370
5,443
5,588
5,831
5,697
5,
328
5,587
5,294
5,287
5.324
5,398
Other consumer-goods paper
_ _ _ ..
do
1, 635
1,614
1,634
1,617
1.623
1, 649
1,635
1,637
1,645
1,642!
1,642;
1,637
1,631
Repair and modernization loans
do
4,454
4,547
4,405
4,346
4,
361
4,
366
4,
586
4,481
4,271
4.616]
4,6414,651
4,689
Personal loans
do
By type of holder:
:
18,
538
18,
245
18,
300
18,
671
18,
325
18,
192
18,
758
18.
545
18,
697
18.731!
18,753
18,
726
18,719
Financial institutions, total
do
8,783
8,722
8,714
8,729
8,755
8,914
8,763 i
8,998
9,006
8,731!
8.688'
8,637
8,586
Commercial banks
do
5,944
5, 974
6,060
5,901
5,892
6,062
6,147
6,147
6,189 ;
6.256
6,294
6.3151
6,325
Sales-finance companies
do
1,207
1,157
1,136
1,115
1,124
1,175
1,103
1,107
1.228 :
1,250;
1.267;
1,270
1,282
Credit unions
do
2,477
2,456
2,488
2,465
2,450
2,489
2,491 >]
2,466
2,437
2,494
2.504
2,504:
2,526
Other
do
3,162
3,282
3,179
3,181
3,189
3,429
3,291
3, 178
3,210
3,170'
3,182
3,226
3,295
Retail outlets, total
_ _ _ _ _ do
1,
032
1,037
1,027
1,
065
1,031
1,032
1,040
995
960
1,032^
1,041
1.063!
1.098
Department stores
do
823
849
820
821
829
903
872
818
858
821 -!
822!
830
846
Furniture stores
do
368
366
370
379
371
380
375
383
38C
i
389!
390
390!
390
Automobile dealers
do
1,106
943
958
998
963
1,049
1,009
943
942 1
928
929 !
943!
961 1
Other
do
r
Revised.
* Preliminary.
* Exclusive of loans to banks.
©Revised to cover 11 dealers.
tRevised
series. Bank debits have been revised to include additional centers and to represent debits to demand deposits; data for 1943-53 appear on p. 23 of the September 1954 SURVEY.
1
d Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles,
t Revised beginning 1952 to expand coverage of the series by making a net addition of 8 banks. Revisions for January-May 1952 will be shown later.
id yields see p. S-20.
9 '-Revisions for 1952 appear on p. 24 of the June 1954 SURVEY. Data beginning 1953 have recently been revised to incorporate more comprehensive infor§ For bond
ition; unpublished revisions (for Janu;lary-September 1953) will be shown later.
January
SURVEY OF CURRENT BUSINESS
1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-17
1954
January
February
March
April
May
June
August
July
Septem- October Novem- December
ber
ber
FINANCE—Continued
CONSUMER CREDIT (Short- and Intermediateterm) — Continued
Total outstanding, end of month— Continued
^on installment credit total 9
mil. of dol
Single-payment loans
do
Charge accounts
do
Service credit
-do
By type of holder:
Financial institutions
do
Retail outlets
. __ -do_
Service credit
_
_,do. _
Installment credit extended and repaid: t
Unadjusted:
Extended, total
do ..
\utomobile paper
- -do
Other consumer-goods paper
do
\11 other
do
Repaid, total
- - _
do__ .
\utomobile paper
do
Other consumer-goods paper _ . _ _ _ - do
\11 other
do
Adjusted:
Extended, total
_ _ . _ do
\utomobile paper
do
Other consumer-goods paper
-do
\11 other
do
Repaid, total
__do
\utomobile paper
do
Other consumer-goods paper
do __
\11 other
-do
6,853
2,183
2,931
1,739
7 350
2 219
3,411
1,720
6 888
2 165
3 002
1,721
6 558
2 133
2 682
1,743
6 452
2 150
2 564
1,738
6 669
2 181
2 723
1,765
6 885
2 313
2 786
1,786
6 949
2 334
2 819
1,796
6 876
2 303
2 773
1 800
6 835
2 312
2 734
1 789
6 921
2 335
2 807
1 779
7 023
2 377
2 892
1,754
7 195
2 407
3 042
1,746
2,183
2,931
1,739
2 219
3,411
1,720
2 165
3 002
1,721
2 133
2 682
1,743
2 150
2 564
1,738
2 181
2 723
1,765
2 313
2 786
1,786
2 334
2 819
1,796
2 303
2 773
1,800
2 312
2 734
1 789
2 335
2 807
1 779
2 377
2,892
1,754
2 407
3 042
1,746
2, 355
2,696
964
883
849
2,416
1,027
639
750
1,947
1,956
2,400
1 038
615
747
2,355
1 015
645
695
2,397
1 047
607
743
2,336
987
650
699
2,703
1 244
659
800
2,473
1 078
662
733
2 549
1 163
2 477
1 114
2 441
1 062
2 425
1 063
2 407
1 046
641
791
636
725
2,454
1,031
687
736
2,437
1,056
650
731
2, 534
1 022
714
798
2,472
1 066
640
766
2,319
2 492
1 113
2 452
1 059
2 407
1 034
2 472
1 076
2 363
1 006
2 479
1 067
2 404
1 014
2,459
1 067
632
760
2,425
1,039
653
733
2 590
1 090
674
826
2,481
1 080
630
771
4 801
3 911
5 280
4 951
3 806
4 277
r 829
r 858
117
2 887
2,639
47
1,850
850
140
4 905
4 201
52
3 791
839
224
5 019
541
321
3 261
' 897
4,857
346
349
3r 300
863
3 842
368
373
p 3 316
v —215
987
667
701
2,214
956
609
649
780
538
629
2,298
963
672
663
2,210
957
619
634
2,380
1 020
574
786
2,581
1 111
719
751
2,356
958
636
762
2,377
1 041
644
692
2,293
956
601
736
2,456
1 053
688
715
2, 357
6 425
5 444
13 013
11, 434
3 956
2 751
2,502
1,095
653
754
2,312
1,008
623
681
2,414
1, 053
620
677
2,306
907
689
710
2,368
985
681
702
5,144
4,605
47
3,947
968
182
5 403
5,132
4 619
4 458
5,333
164
349
2
3, 540
1,280
6 336
1 294
5 058
3 465
1,201
2 3 001
1 468
637
724
2,323
1 026
809
510
637
963
644
750
2,358
983
603
733
2,392
1 025
1 010
629
704
658
724
648
731
2,413
1 056
658
699
622
764
2,417
1 033
661
723
665
728
667
690
607
756
612
761
678
734
629
750
608
788
635
755
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures: §
Receipts total
mil. of dol
Receipts, net
..
do . .
Customs
do
Income and employment taxes
do __
Miscellaneous internal revenue
do
\11 other receipts
- -do _
Expenditures, total
Interest on public debt
Veterans' services and benefits
National security
\llotherexpenditures
-_
_
do
do
do
-do
do
Public debt and guaranteed obligations:
Gross debt (direct), end of month, total
. -do
Interest bearing, total
do
Public issues
-do
Special issues
- do
Noninterest bearing
do
Obligations guaranteed by U. S. Government, end
of month
mil. of dol
U. S. Savings bonds:
\mount outstanding, end of month
_do
Sales, series E through K
do
Redemptions
do
275, 209
273, 128
232 115
41,013
2 081
4,133
919
304
2
376
275 168
272, 881
231 684
41, 197
2 287
39
3,538
749
293
245
343
274
272
231
41
2
849
632
623
009
216
41
5 366
r
859
1
r
44
11, 866
159
954
149
4 707
5 555
372
345
588
340
3r 568
423
3 830
274
272
231
41
2
782
536
466
070
246
797
270 235
267, 823
226 821
41, 002
2 412
5 037
3 592
52
44
2 865
3 946
877
170
860
179
5 296
5 203
249
352
350
383
3 691
872
271
268
227
41
2
047
855
806
049
192
T
3 374
1 229
273
271
229
41
2
475
280
913
367
195
11 347
10, 644
49
10, 123
834
340
7,308
1 763
376
4,650
519
271 260
268, 910
226 681
42, 229
2 350
3 148
2 827
45
2 059
790
254
48
119
4 827
6 731
3 061
r I 217
3 370
2 695
270 984
268, 681
226 528
42 152
2 303
274 955
272, 693
230 214
42 479
2 262
213
336
48
332
334
274
272
230
42
2
810
440
033
407
370
278 752
276, 400
234 161
42, 238
2 352
278
276,
234
42,
2
853
511
160
351
342
278 750
275, 731
233 165
42, 566
3 019
74
76
75
77
77
80
80
81
21
97
29
34
34
34
57, 889
368
438
57 934
423
514
57 918
561
704
57 960
515
560
58 050
602
598
58 106
511
538
58 159
464
510
58 189
523
628
58 129
508
693
58, 200
546
562
58 207
464
544
58, 242
456
507
58,299
466
510
58, 358
557
633
Government corporations and credit agencies:
Assets, except interagency, total
mil. of doL
Loans receivable, total (less reserves)
do
To aid agriculture
- - do __
To aid homeowners
_ _ _. do__.
Foreign loans
do
\11 other
do _
Commodities, supplies, and materials
do. .
U S Government securities
do _
Other securities and investments
_do. _
Land, structures, and equipment
__do_ ._
All other assets
__ do
Liabilities, except interagencv, total
Bonds, notes, and debentures. _
Other liabilities
Privately owned interest
U S Government interest .
_-
48
1
.__ __do_ _ _ _ do _ _
-do
do __
- __do
38, 937
19, 883
6,810
2,930
8,043
2 303
2.514
2 602
3,425
8,062
2,451
39, 313
19, 877
7,370
2,858
7,987
1 842
2,696
2 969
3, 425
8,035
2,312
5, 075
1,257
3,818
5,944
1,025
4,920
470
32, 899
434
33, 429
39, 602
18, 489
6 389
r 2, 814
7,965
1 576
3,369
2 911
3,439
8,077
3,317
5,085
1 052
4,033
486
34 030
LIFE INSURANCE
Assets, admitted:
All companies (Institute of Life Insurance), estimated
total
mil. of dol
Securities and mortgages _
___ _ _ _ d o ..
49 companies (Life Insurance Association of America), total
. mil. of dol
Bonds and stocks, book value, total
.do.. _
Govt. (domestic and foreign), total
do
U. S. Government
._
.do _
Public utility
._
_
do
Railroad
do
Other
_
do
Cash
Mortgage loans, total
Farm
Other
. . .
Policy loans and premium notes
Real-estate holdings
Other admitted assets
do
do.,
do
do
.do __
do
do .__
77, 552
69, 478
78 201
69, 992
78 866
70, 544
79 251
70, 884
79 649
71, 238
80 114
71, 645
80 547
71, 997
80 981
72, 361
81 510
72, 737
81 965
73, 086
82 362
73, 455
82 850
73 852
83 338
74 229
68, 046
42, 12G
1C, 476
8,480
12, 213
3,461
15, 971
68, 587
42, 317
10, 435
8,427
12, 295
3,484
16, 102
68, 989
42, 607
10, 509
8,407
12, 325
3, 505
16, 267
69, 337
42, 801
10, 541
8,414
12, 447
3,507
16, 307
69, 652
42, 942
10, 461
8,306
12, 548
3,499
16, 433
70, 024
43, 087
10 464
8,287
12, 621
3,520
16, 482
70, 364
43, 233
10, 475
8,194
12, 655
3 525
16, 578
70, 716
43, 362
10 316
8 Oil
12, 766
3 574
16 705
71 160
43, 509
10 230
7 861
12, 820
3 573
16 886
71 599
43, 598
10 197
7 839
12, 857
3 552
16 992
71 930
43, 713
10 088
7,757
12, 953
3 542
17, 129
72 341
43 870
9 993
7 692
13 002
3 587
17, 287
72 754
43 919
9 969
7 616
12 989
3 587
17 373
842
826
815
20, 767
1 779
18 988
2,560
1 914
2,161
823
20,961
1 786
19 175
2,569
1 942
2,175
854
21,219
1 794
19' 425
2,579
1 960
2,223
777
911
19, 098
1,654
17, 444
2,425
1,752
1,875
19, 321
1,666
17, 655
2,436
1,740
1,862
889
19, 410
1 674
17, 736
2,447
1 769
1,868
793
790
799
19, 525
1 685
17 840
2,460
1 778
1,980
19, 689
1 697
17 992
2,480
1 792
1,959
19, 885
1 714
18 171
2,494
1 801
1,959
818
807
20, 028
1 728
18 300
2,507
1 812
1,966
20, 197
1 744
18 453
2,523
1 838
1, 989
20, 366
20, 555
1 759
1 770
18 607
18 785
2,536 . 2, 549
1 854
1 879
2,053
2,122
r
Revised.
1 See note marked "§".
2 FOF national defense and related activities; not strictly comparable with data beginning February 1954.
9 See note " 9 " on page S-16.
I For a description of these new data and for figures prior to January 1953, see the January and March 1954 issues of the FEDERAL RESERVE BULLETIN.
§ Effective with February 1954, data are reported on a budgetary basis; they are not entirely comparable with earlier data which are as originally shown in the daily Treasury Statement.
SUEVEY OF CURRENT BUSINESS
S-18
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 1955
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
FINANCE—Continued
LIFE INSURANCE— Continued
Life Insurance Agency Management Association :
Insurance written (new paid-for insurance) :
Value estimated total]:
mil. of dol_
Group and wholesale^
- - __do
Industrial t
do
Ordinary, totaled
-do
New England
- do
Middle Atlantic
_- - do
East North Central
do .
West North Central
__ .
do_ _
South Atlantic
do
East South Central
_
- -_ __do._West South Central
do
Mountain
- do
Pacific
do
Institute of Life Insurance:
Payments to policyholders and beneficiaries, estimated total
thous. of dol
Death benefits
- - do
M^atured endowments
do
Disability payments
- do _ .
Annuity payments
do
Surrender values
_
- - do_ _
Policy dividends
do
Life Insurance Association of America :J
Premium income (39 cos ) total
- - do_ _
Accident and health
do
Annuities
_ _ _ do
Group
do
Industrial
- - .do. _
Ordinary
do
3,038
523
559
3, 735
1,050
485
2,584
418
551
1,81C
124
439
402
151
195
75
168
60
197
437, 531
172, 796
50, 744
10, 242
374, 908
163, 906
40, 856
49,115
65, 474
89, 160
35, 062
62, 825
63, 686
1,956
128
450
426
156
233
83
177
67
222
2,200
352, 150
152, 387
39, 862
8,717
35, 971
58, 376
56, 837
481, 224
627, 683
84, 481
80, 719
56, 284
77, 031
329, 168
942, 298
96, 825
669, 865
88, 698
71, 221
118, 852
450, 489
312, 556
22, 030
-21.2
21, 956
-43.3
144
490
467
189
263
88
197
86
260
191,711
49, 345
9, 495
37, 426
64, 579
128, 668
204,911
2,779
428
444
1,712
122
418
375
143
180
72
153
59
191
101,219
77, 237
90,155
3,424
3,286
155
538
505
201
261
96
216
84
274
3,183
467
572
2,144
137
515
452
177
250
90
201
75
247
461,416
408, 692
377, 515
158, 955
492
602
2,330
602
607
2,077
141
480
440
173
252
84
184
72
251
3,138
431
555
2,152
137
495
452
184
258
87
200
75
264
3 154
641
520
1, 993
123
440
424
177
239
84
184
76
247
2 944
391
547
386, 791
158, 681
40, 535
9,041
39, 763
66, 530
72 241
380, 859
168, 048
39 247
2,006
125
432
428
177
243
86
188
76
251
196, 916
' 49, 479
10, 241
38, 682
79, 293
171,065
41,416
8,804
86,805
45, 376
9, 573
36, 458
72. 312
73, 908
34, 379
67, 400
66, 561
427, 419
183, 689
45, 644
8,861
37, 859
71, 445
79, 921
639, 410
82, 273
86, 309
57, 444
70, 623
342, 761
722, 082
87, 7C4
89, 843
66, 055
85, 132
393. 348
619, 537
90, 562
80, 333
56, 866
67, 571
324, 205
627, 606
86, 381
79, 300
49, 621
74, 642
337, 662
697, 825
88, 165
82, 751
63, 721
83, 043
380, 145
649, 190
90 063
98, 097
64 886
64, 772
331 372
630, 661
87 548
74, 080
55 141
78, 386
335 506
21,958
21, 965
-2.0
389
21, 969
37.5
1,088
3,517
66 000
41, 900
12, 500
21,973
21, 927
-16.9
541
3,831
21 908
—72 7
852
2 400
21 809
— 65 4
1,274
2 978
5,000
43. 300
13, 200
6,100
44 300
13 300
6 100
45 200
' 12 900
5 800
190
4,843
.853
134
5,124
.853
167
5, 956
.853
227
7 146
853
2,703
4,672
3,609
8,573
8,648
34 907
69, 738
60 271
10, 271
2 958
487
535
1,936
112
409
418
174
234
85
188
76
240
3 072
'400
598
126
449
443
175
258
87
187
83
265
563
2,219
146
505
483
181
276
96
186
84
263
394 119
168, 679
39 154
8 662
35 608
67 885
74 131
371,915
399, 965
661
86
81
58
76
358
2,074
7,489
151, 957
44, 863
169,921
35, 818
66, 690
63, 778
38, 626
72, 863
60, 354
463
727
417
039
298
982
622, 319
85 987
73, 224
52 530
66, 241
344 337
695, 482
90, 642
85, 437
75, 584
80, 033
363, 786
<y\ gjo
21 75Q
8,809
49, 254
8,947
MONETARY STATISTICS
Gold and silver:
Gold:
22,028
Monetary stock U S
mil of dol
-35.1
Net release from earmark §
do
2,668
Exports
thous. of dol.
2,114
Imports
do
64, 300
Production reported monthly total
do
39, 900
Africa
do
9,600
Canada
do_ .
6,200
United States
do
Silver:
198
Exports
do. _
5,091
Imports
do _
.853
Price at New York
dol. per fine oz.
Production:
2,207
Canada
thous of fine oz
5,077
Mexico
do
2,511
United States
do .
Money supply:
30, 807
Currency in circulation
mil. of dol
207, 100
Deposits and currency total
do
2,700
Foreign banks deposits net
do
7,000
U S Government balances
do
Deposits (adjusted) and currency total
do
Demand deposits adjusted
do
Time deposits
do
Currency outside banks
do
Turnover of demand deposits except interbank and
U. S. Government, annual rate:f
New York City ratio of debits to deposits-.
6 other centers 9
do
338 other reporting centers
. . . do _ ..
3,526
2,081
64, 400
40, 30C
9,600
6,100
282
7,074
1,555
63, 400
40, 800
10, 300
5,100
-9.9
303
1, 930
61, 800
39, 300
10, 900
4,900
9,397
68, 700
42, 400
12,900
5,400
2,004
43, 200
13, 400
r
—34.6
21,710 p21,712
781
2 377
-36.7
1,203
2,712
3 100
5 100
5 600
5,600
460
9 351
.853
262
7 727
853
196
8 366
.853
9,036
2 783
2 853
2 779
2 754
3 236
2 840
3,117
3,366
—34 6
1 065
2 128
314
4,412
.853
128
5,618
.853
6,326
2,050
4,203
2,314
3,751
2,553
4,065
3,372
3,163
2,299
3,775
2,700
2,328
3,643
2,508
3,494
3,229
30, 781
209, 175
29, 981
207, 100
29, 904
206, 200
29, 707
205, 100
29, 735
206, 200
3,100
29, 870
207, 600
3,100
29, 922
30, 500 p 30, 504
30, 074
29, 985
29, 929
29, 892
209, 354 P209 100 P210 500 p211 800 P 215, 400 p 217, 500
3,256 P 3 400 P 3 400 P 3 300 P 3 200 v 3, 200
7,581 P 5 200 P 6 900 v 6 000 p 7, 500 p 8, 300
197, 400
100, 200
69, 300
27, 900
200, 917
102, 451
70, 375
28, 091
199,800
102,300
197, 400
99, 600
71,000
197, 300
98, 600
70, 600
26, 900
26, 900
195, 200
96, 700
71, 700
26, 900
26, 700
198, 000
98, 700
72, 500
26, 800
198, 517
98, 132
73, 292
27, 093
38.4
26.4
20.2
43.1
26.8
19.7
42.7
24.1
18.6
42.7
25.5
19.2
44.6
29.2
19.7
41.3
27.6
18.8
41.9
25.5
18.8
44.2
26.8
19.7
3,870
.853
2,361
6,678
2,694
5,564
2,800
4,400
2,900
5,800
182
4,900
-48.4
774
.853
3,000
6,900
5,800
72,000
6,400
r
2 732
2 283
1 997
P 200
p 100
p 73
v 26
r
400 P 200 300 P 202
000 P 99 400 P 101
700 P 74 000 P 74
800 P 26 900 P 26*
41.6
24 9
18.8
40.0
24.8
18.5
500
200
400
900
40.4
25 3
19.4
1,144
.853
.853
P204 800 P 206 000
P103 100 P 104, 200
P 74 700 P 74 400
p 26 900 p 27, 500
39.3
P23 7
P 18.6
42.2
P26. 2
P20.7
48.1
p28. 1
P21.2
PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Fed. Trade and SEC) :*
Net profit after taxes, all industries _ _ mil. ofdoLFood and kindred products
do
Textile mill products
do
Lumber and wood products (except furniture)
mil of dol
Paper and allied products
do
Chemicals and allied products
do
Petroleum refining
do
Stone clay and glass products
do
Primary nonferrous metal
do
Primary iron and steel
do
Fabricated metal products (except ordnance,
machinery, and transport, equip.) mil. of dol
Machinery (except electrical)
do
Electrical machinery
do
Transportation equipment (except motor vehicles,
etc )
mil of dol
Motor vehicles and parts
do
All other manufacturing industries
do
2, 591
190
33
2,595
2,922
24
105
238
624
80
109
205
14
114
282
543
68
99
167
42
122
303
520
135
121
185
103
184
163
84
229
173
116
253
162
80
233
218
90
291
236
110
340
265
174
32
234
16
1,302
1,796
1,298
Dividends paid (cash) , all industries
do _
Electric utilities, net profit after taxes (Fed. Res.)
324
268
268
266
mil of dol
Eailways and telephone cos. (see pp. S-23 and S-24) .
r
Revised.
p Preliminary.
J Revised data for January-July 1952 for new paid-for insurance written are shown on p. S-17 of the October 1953 SURVEY; revisions for 1951-52 for premium income will be shown later.
cf Data for 1953 for total ordinary insurance written include revisions not distributed by regions.
§ Or increase in earmarked gold (—).
|Revised series, reflecting change in number of reporting banks and centers. Data for 1943-53 for New York City appear on p. 23 of the September 1954 SURVEY; those for other centers will
be shown later.
9 Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
* New series. Compiled jointly by the Federal Trade and Securities and Exchange Commissions. Data are estimated totals based on reports from all manufacturing corporations registered
with SEC, all nonregistered manufacturing corporations with total assets of $5,000,000 and over at the end of 1949, and a sample of nonregistered manufacturing corporations with total assets of
less than $5,000,000 at the end of 1949. Comparable data for 1951-53 appear on p. 27 of the December 1954 issue of the SURVEY.
SURVEY OF CUEKENT BUSINESS
January 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-19
1954
January
February
March
April
May
Septem- October Novem- December
ber
ber
August
July
June
FINANCE—Continued
SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
capital and refunding)
mil of dol
New capital total
do
Domestic total
do
Corporate
do
Federal agencies
do
Municipal State 6tc
do
Refunding total
Domestic total
Corporate
•
Federal agencies
Miunicipal State etc
Securities and Exchange Commission::}:
Estimated gross proceeds total
By type of security:
Bonds and notes, total
Corporate
Common stock
Preferred stock
By type of issuer:
Corporate total
Manufacturing
Mining
Public utility
Railroad
Communication
Real estate and financial
Noncorporate, total
U. S. Government
State and municipal
New corporate security issues:
Estimated net proceeds, total
Proposed uses of proceeds:
New money total
Plant and equipment
\Vorking capital
Retirement of securities
Other purposes
Proposed uses by major groups:
Manufacturing total
New money
Retirement of securities
Mining total
New money
1 304
1 167
1 087
'490
1 537
1 346
1 329
'485
1 838
1 342
1 334
'536
1 921
1,754
1 715
1,632
1,053
1,046
47
751
8
495
482
179
268
34
859
31
826
39
167
167
96
45
26
731
32
282
7
579
579
396
181
2
1,706
1,311
1,311
393
44
140
140
20
115
4
783
605
546
267
0
279
59
178
178
76
85
17
2,736
1 655
1 386
1,913
1,947
4,386
2,438
2,151
1,298
2,131
r
6, 437
1,298
2,642
1, 385
51
43
1 545
462
90
20
1 297
1,699
4,184
2,189
2,010
* 6, 121
893
62
59
708
264
52
1,197
366
63
27
1,991
1,077
1,224
513
144
69
1,726
1,478
456
53
20
272
30
7
52
930
515
414
726
110
29
367
16
31
90
1,237
443
124
15
161
13
27
16
854
546
300
1,014
1,025
1,117
111
571
136
34
279
48
27
12
1 083
561
399
464
652
" 5, 412
4,611
••615
396
66
97
54
51
77
26
902
466
432
1,464
563
448
2 324
2 219
2 161
1 388
do
do
do
do
do
do
3, 506
do
do
do
do
3 400
do
do
do
do
do
do
do
do
do
do
459
101
19
249
10
6
45
3,047
do
451
353
69
37
2,610
411
1 i n7
i 977
835
441
830
758
745
315
32
398
13
72
72
15
55
2
898
783
762
358
0
404
22
115
115
24
88
2
0
773
58
106
106
36
62
g
423
38
202
60
611
48
1, 258
423
o
114
730
17
191
191
112
76
3
628
88
41
314
31
26
52
1,057
523
855
532
72
314
43
2
192
914
508
280
1,041
1,223
437
1,001
1,008
388
310
210
100
91
36
749
617
132
224
27
751
468
283
114
144
211
156
55
126
51
123
95
16
14
12
152
125
17
41
39
191
179
6
48
31
9
248
174
60
45
20
25
93
93
0
217
206
8
64
46
1 186
1 319
511
735
713
616
836
808
118
131
311
76
448
7
9
160
1,381
87
74
410
338
72
9
29
590
473
117
53
70
471
389
82
129
16
614
472
142
183
38
812
635
177
182
47
52
46
18
17
107
95
0
29
28
12
11
0
362
306
46
16
14
2
30
22
0
88
54
0
204
181
8
34
32
1
501
327
173
1
1
0
40
40
0
26
22
1
305
256
21
74
61
269
258
0
30
23
7
7
7
0
51
40
0
86
76
6
39
25
12
309
237
73
31
19
12
26
25
0
51
18
25
442
381
60
7
7
0
9
8
0
159
59
97
528
507
4
71
39
27
310
170
129
43
18
25
2
2
0
190
54
128
159
102
55
13
10
0
27
27
0
16
9
3
777, 141
218, 734
399, 429
304, 473
414, 306
438, 195
569, 850
266, 676
735, 074
249, 648
782, 572
244, 326
854, 718
176, 741
280, 426
339, 707
300, 344
257, 554
268
371
210
310
158
250
136
244
160
369
183
413
116
344
117
369
254
496
200
363
1,654
1,694
1,690
1,688
1,716
1,786
1,841
1,857
1,926
1,998
1,108
1,062
1,054
1,094
1,186
1,173
1, 169
100 71
101.12
77.90
406
301
105
22
23
1 413
1,111
531
485
46
18
13
do
do
do
do
do
99
77
6
18
17
418
400
9
37
34
245
225
16
10
10
5
5
0
45
44
0
200
184
8
59
59
0
608
608
0
47
40
1
134
111
16
32
29
1
276
275
410, 562
190, 858
o
o
303
26
25
\
(2)
48
48
o
26
25
(2)
2
()
o
o
296
66
34
647
73
130
850
208
36
507
1
41
27
3,537
2,669
783
602
522
369
30
44
611
64
636
0
395
395
285
96
14
408
111
110
853
667
186
325
45
do
do
do
do
do
Public utility, total
do
New money
do
Retirement of securities
do
Railroad total
do
New money
do
Retirement of securities
do
Communication, total
do
New money
do
Retirement of securities
do
Real estate and financial total
do
New money
do
Retirement of securities .
do
State and municipal issues (Bond Buyer) :
Long-term
thous of dol
Short-term
,
do
39
557
81
136
136
71
58
7
o
o
154
43
252
130
331
48
(2)
248
161
75
129
6
123
328
326
2
48
43
3
195
51
252
45
94
218
94
69
(2)
53
39
14
51
50
77
23
54
25
16
1
651, 593 »• 615, 479
351,010 r 260, 413
431, 724
132, 727
147
311
129
236
239
237
910
2,081
924
1,291
2,131
1,194
1,364
2,242
972
1, 416
100 91
101 31
78.67
100 62
101. 00
78.74
100. 53
100. 90
78.96
100 39
100. 74
79.71
100. 13
100. 47
79.85
117.0
123.9
99.49
117.5
126. 9
100. 36
117.8
128.4
100. 28
117.6
127.2
99.92
117.5
126. 9
99.69
117.4
127.4
99.27
73, 701
82, 290
92, 201
102, 829
85, 991
90, 886
64, 498
68, 903
70, 651
77, 015
98, 178
99, 831
72, 013
80, 225
90 201
100, 365
84, 448
88. 658
62, 600
66. 632
68 690
74, 512
96 042
96, 368
COMMODITY MARKETS
Volume of trading in grain futures:
Corn
Wheat
mil of bu
do
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. Members
Carrying Margin Accounts)
Cash on hand and in banks
Customers' debit balances (net)
Customers' free credit balances
Money borrowed
mil of dol
do
do
do
682
1,127
297
709
1,170
741
768
787
819
836
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.),
97.30
98.32
100 64
100. 00
101. 00
99 32
100. 28
total §
dollars
101.41
97.72
98.74
100. 40
101. 04
99.74
100. 68
Domestic
do
77.64
78.34
78.17
75.78
76.30
77.49
77.17
Foreign. _
_ ._
do
Standard and Poor's Corporation:
Industrial, utility, and railroad (Al-f- issues):
117.5
113.5
117.9
113.6
118.1
116.5
114.6
Composite (17 bonds)
dol per $100 bond
123.9
123.6
121.4
122.3
125.6
125.4
123.6
Domestic municipal (15 bonds)
do
95.85
99.87
100. 36
99.68
98.62
94.98
97.42
U. S. Treasury bonds, taxable
. do
Sales:
Total, excluding U. S. Government bonds:
All registered exchanges:
74, 769
73, 721
87, 702
83, 039
48, 741
79, 128
80, 038
Market value
thous. of dol
84, 141
92, 499
83, 764
56, 894
91,416
Face value
__.
do
97, 078
91, 677
New York Stock Exchange:
72, 116
72, 601
86, 220
81, 229
47 433
77, 099
78 470
Market value
do
81, 102
82, 136
94, 863
89, 996
55, 102
88, 276
88, 486
Face value
_do
r
1
2
Revised.
* Preliminary.
Includes International Bank securities not shown separately.
Less than $500,000.
^Revisions for 1952-February 1953 will be shown later.
§Data for bonds of the International Bank for Reconstruction and Development, not shown separately, are also included
309
838
877
924
in computing average price of all listed bonds.
126.6
98.97
SURVEY OF CURRENT BUSINESS
S-20
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 19o5
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
FINANCE—Continued
SECURITY MARKETS— Continued
Bonds— Continued
Sales— Continued
New York Stock Exchange, exclusive of stopped
sales, face value, totaH
thous. of dol
U. S. Government
.
do
Other than TT S Government total§
do
Domestic .
do
Foreign
.. do. ..
Value, issues listed on N. Y. S. E.:
"Market value, total, all issues §
mil. of dol
Domestic
do
Foreign
do
Face value total all issue55!
do
Domestic
do
Foreign
do
Yields:
Domestic corporate (Moody 's)
percent.
By ratings:
Aaa_._
...
do. .
Aa
. . .d o
A
do
Baa
do
By groups:
Industrial
do
Public utility
do
Railroad
. _.
do. __
Domestic municipal:
Bond Buyer (20 bonds)
do
Standard and Poor's Corp. (15 bonds)
do
U. S. Treasury bonds, taxable
do ...
53. 034
6,499
69, 272
1
69 271
62, 126
6, 861
86, 352
0
86 352
72, 247
13, 970
75, 856
6
75 850
62, 595
13, 102
79, 181
0
79 181
65, 421
13, 691
75, 166
0
75 166
64, 443
10, 629
73 779
0
73 779
64, 860
8, 822
77 847
0
77 847
68, 552
9,238
83, 871
10
83 861
74. 966
8,781
76 251
5
76 246
68 307
7,878
59 575
1
59 574
50, 574
8,965
96, 506
94, 549
1, 406
99,184
96, 754
1,856
99, 828
97, 871
1, 406
101, 539
99,122
1,842
101, 246
99, 162
1,421
101, 936
99,419
1,842
107, 646
105, 557
1,424
107, 346
104, 843
1,838
107, 976
105, 867
1,441
107, 286
104, 782
1,839
108, 356
106, 255
1,440
107, 288
104, 781
1,843
105, 094
102 990
1,436
105 091
102, 577
1 849
105, 582
103 474
1,437
104 835
102, 325
1 844
105, 727
103, 608
1,445
104. 770
102, 268
1,837
109 495
107 382
1 440
108 816
106 322
1 829
109,350
107 232
1, 448
108 778
106, 280
1 833
3.38
3.39
3.34
3.23
3.14
3.12
3.13
3.16
3.15
3.14
3.11
3.27
3.40
3.75
3.13
3.28
3.40
3.74
3.06
3.22
3.35
3.71
2.95
3.12
3.25
3.61
2.86
3.03
3.16
3.51
2.85
3.00
3.15
3.47
2.88
3.03
3.15
3.47
2.90
3.06
3.18
3.49
2.89
3.04
3.17
3.50
2.87
3.03
3.15
3 49
3.27
3.38
3.51
3.28
3.37
3.52
3.23
3.31
3.47
3.12
3.23
3.35
3. 05
3.14
3.24
3.04
3.13
3.19
3.06
3.13
3.21
3.10
3.15
3.23
3.10
3.13
3.23
2.60
2.62
2.85
2.58
2.59
2.79
2.46
2.50
2.68
2 39
2.39
2.60
2.44
2.38
2.51
2.49
2.47
2.47
2.51
2.49
2.52
2.40
2.48
2.54
232 .4
52.5
102.2
2.5
1,715.2
170.6
1,081.7
141.3
689. 5
134.7
239.8
8.3
244.1
68.9
84.2
1.9
1, 274. 5
78.7
833.1
93.9
588.3
108.0
212. 5
6.8
227.6
55.8
96.7
2.1
1.1
57.0
2.9
7.8
6.4
43.7
100.3
87.4
48.8
41.4
104.4
68.0
32.3
92.3
9.6
1.1
56.9
10.1
17.0
4.0
39.4
102.3
60.0
43.8
23.2
107.6
70.2
24.7
51.3
7.2
do
__do
do
do
4.08
4 26
2.09
3.21
2.87
3.16
4.08
4 27
2.09
3.21
2.97
3.26
4.11
4 30
2.09
3.25
3.01
3.26
4.14
4 34
2.11
3.24
3.01
3.28
4.14
4 34
2.13
3.11
3.01
3.37
do
.do . .
do
do.__
73.79
76.97
39.70
45. 56
73.50
77.06
39.61
43.18
77.11
81.37
40.87
46.58
77.85
81.98
41.42
46.80
...percent..
do _
do
do
do
do
5.53
5.53
5.26
7.05
4.28
3.32
5.55
5.54
5.28
7.43
4.61
3.26
5.33
5.28
5.11
6.98
4.72
3.20
5.32
5.29
5.09
6.92
4.77
3.08
Stocks
Cash dividend payments publicly reported:
Total dividend payments
mil. of dol
Finance
do
Manufacturing
do
Mining
do
Public utilities:
Communications
__
.. do
Heat light and power
do
Railroad
do
Trade
_ .
do
Miscellaneous
do
Dividend rates, prices, yields, and earnings, common
stocks (Moody's):
Dividends per share, annual rate (200 stocks) .dollars..
Public utility (24 stocks)
Railroad (25 stocks)
Bank (15 stocks)
Insurance (10 stocks)
... .. __
.
Price per share, end of month (200 stocks)
Industrial (125 stocks)
.
Public utility (24 stocks)
Railroad (25 stocks)
Yield (200 stocks)
Industrial (125 stocks) ..
Public utility (24 stocks)
Railroad (25 stocks)
Bank (15 stocks)
Insurance (10 stocks) _
59, 622
0
59 622
Earnings per share (at annual rate), quarterly:
Industrial (125 stocks)
dollars
Public utility (24 stocks)
do
Railroad (25 stocks)
do
Dividend yields, preferred stocks, 11 high-grade
4.15
(Standard and Poor's Corp.)
'_ percent \\
Prices:
105. 82
Dow-Jones & Co., Inc. (65 stocks)
dol. per share. _
277. 10
Industrial (30 stocks)
do
51.57
Public utility (15 stocks)
. do
97.25
Railroad (20 stocks) _
-__.
do
Standard and Poor's Corporation:
Industrial, public utility, and railroad :c*
Combined index (480 stocks)
1 935-39=1 00. . 187.5
202.3
Industrial, total (420 stocks)
do
192.2
Capital goods (129 stocks). ..... do
171.0
Consumers' goods (195 stocks). -do. .
123.6
Public utility (40 stocks) - ...
do
158.5
Railroad (20 stocks) .
do
124.8
Banks, N. Y. C. (16 stocks)
do
225. 6
Fire and marine insurance (17 stocks)
do
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
1,188
Market value
-mil. of dol
52, 290
Shares sold
thousands
On New York Stock Exchange:
1,010
Market value
mil. of dol
37 872
Exclusive of odd lot and stopped sales (N. Y.
26, 684
Times)
.
thousands..
Shares listed, New York Stock Exchange:
Market value, all listed shares
.mil. of dol . 117, 478
2,918
Number of shares listed
millions .
r
8 08
2 78
8.76
67 945
5
67 940
57, 516
10, 362
97, 202
0
97 902
88, 096
9, 009
395
269
453
965
477
823
109, 139
107,012
1,454
109.003
106, 516
1,822
3. 1?
3. 13
3. 13
3. 13
2.89
3.04
3.13
3.47
2.87
3.04
3.14
3.46
2.89
3.04
3. 13
3.45
2.90
3.04
3.14
3. 45
3.07
3 12
3.21
3.07
3 13
3.22
3.06
3.11
3.23
3.06
3. 10
3 22
3.07
3. 10
3.23
2.26
2.31
2.47
2 26
2.23
2.48
2.35
2.29
2.51
2 33
2.32
2.52
2.33
2.29
2.55
2. 33
2.57
1,252.5
86.4
816.5
94.5
525. 8
130.6
149.9
2.3
339 6
68.0
170.7
4.6
1 264 5
93.9
822.0
93.8
594 2
114.3
211.6
6. 5
256. 6
75.2
104.4
1.7
1,941.0
233. 5
1, 237. 8
140. 1
1.1
57.3
2.9
7.6
4.1
38.4
100.7
55.2
37.4
23.4
107.2
66.8
13.7
48.2
7.1
1.6
64.8
9.5
13.2
7.2
39.0
102. 6
51.2
38.3
23.7
107.8
74.4
20.3
52.4
6.9
1.2
55.9
4.4
8.2
5.6
42. 1
113.9
87.0
47.4
39.2
4.18
4 41
2.13
3.11
3.01
3.37
4.22
4.22
4.24
4.22
2.13
3.11
3.01
3.37
2.13
3.14
3.01
3.37
2.13
3.15
3.01
3.37
2.13
3.15
3.05
3.37
4.22
4 43
2.13
3. 15
3.07
3.37
4.23
4 46
2.13
3. 15
3.08
3.37
4.42
4 72
2.13
3.17
3.09
3.37
4.43
4. 73
2.14
3. 14
3. 15
3. 37
80.56
85.53
42.56
46.40
84.67
90.76
42. 91
47.16
86.51
92.86
43.79
49.63
87.60
94.34
43.91
50.01
91.97
98.49
46.67
52.98
88.91
95.06
45.44
50.01
94. 65
102. 88
45.90
51. 47
92.64
100. 66
44.18
52.29
100. 60
110. 13
46. 33
58.38
105. 40
115.64
47.56
64. 27
5.14
5.07
5.00
6.70
4.81
3.17
4.94
4.86
4.96
6.59
4.66
3.08
4.88
4.81
4.86
6.27
4.62
2.94
4.82
4.74
4.85
6.28
4.59
2.88
4.61
4.54
4.56
5.95
4.35
2.73
4.75
4.66
4.69
6.30
4.32
2.79
4.46
4.31
4.64
6.12
4.39
2 77
4.57
4.43
4.82
6.02
4.50
3.00
4.39
4.29
4.60
5.43
4.26
2.74
4.20
4.09
4.50
4.89
4.09
2. 52
8. 25
2.85
4.60
2 81
3.14
109
107
1
108
106
1
7 50
2 88
6. 42
4.20
4.15
4.08
4.04
4.02
4.03
4.05
4.04
4.01
3. 98
3. 93
3.92
3.93
106. 74
281.15
52.54
96.37
103.86
286. 64
53.33
98.17
111.55
292. 13
54.39
102. 44
113.11
299.15
55.64
101.38
115.94
310.92
56.39
102. 01
120. 74
322. 86
57.37
108. 62
122.69
327. 91
57.92
110. 89
127. 66
341. 27
59. 43
116.65
129. 76
346. 06
61.01
118.29
130. 40
352. 71
61.04
116.03
131.54
358. 30
59.43
118.41
137. 84
375. 50
60. 12
126.95
145.81
393. 84
61.43
139. 64
190.7
206.2
197.0
172.9
125.2
156.9
124.3
229.4
195.4
211.9
201.0
177.0
126.7
159.5
122.8
238.0
199.6
216.5
204.8
178.1
128.8
165.8
121.7
243.7
204.9
222.9
211.7
180.5
131.0
165.4
120.7
248.1
212.7
233.1
225.3
184.6
132.5
163.7
121.8
249.1
219.8
241.5
235.9
189.2
134.9
173.0
124.8
260.6
221.8
244.0
241.6
191.2
135.0
175.7
125.8
265.1
231.1
254.5
255.9
202.4
139.5
184.1
131.3
283.3
236.4
260.6
257.
207.
142.5
187.
135.
293.
238. 5
264.4
257.3
209.4
140.7
182. 0
135. 4
284.1
243. 5
271.4
262. 5
214.8
139.4
186.7
135. 9
274.8
252. 2
282! 0
278. f>
221.2
141.4
196.7 :
138. 0 :
278.5 j
1,568
65, 081
1.533
64, 873
1,700
60, 104
2,043
75. 234
2.173
84, 949
2,122
84, 979
2,105
88, 072
2,453
89, 573
2,752
97, 306
2,178
81,922
2, 371
88, 329
2,987
101.956
1,344
45 458
1,296
47 313
1,458
43 482
1,751
52 932
1,879
62 793
1,846
61 746
1,823
61 602
2,144
67, 359
2,410
70 904
1,852
53, 201
2, 031
(>1 . 725
2, 577
71,843
36, 159
33, 375
33, 295
44, 132
117,257
2,927
123, 190
2,931
124,906
2,937
129,122
2,943
43, 867 |
134, 586
2,967
264. 5
296. 7
296. 8
228.7
144.4
217. 5
147.6
295. 9
41,913
42, 225
51, 854
56, 928
41,232
44, 169
63, 930
76, 456
137, 928
2,979
139,188
3,047
145, 843
3,063
142, 284
3,071
150, 659
3,093
148, 163
3, 094
1GO, 986
3,107
169, 149
3, 174
Revised.
» Preliminary.
§Sales and value figures include bonds of the International Bank for Reconstruction and Development not shown separately; these bonds are included also in computing average price of
all listed bonds shown on p. S-19.
cTNumber of stocks represents number currently used; the change in the number does not affect the continuity of series.
SURVEY OF CURRENT BUSINESS
January 11)5
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-21
1954
January
February
March
April
June
May
August
July
Novem- December
ber
September
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS (QUARTERLY)t
Exports of goods and services total
mil ofdol
Military transfers under aid programs, net
do
Other merchandise adjusted
do
Other services
do
Imports of goods and services,
total
Merchandise adjusted cf1
do
do
ATilitarv expenditures
Other services cf
do
do
5,230
803
3,209
585
633
4,767
826
2,849
464
628
5,691
996
3,516
479
700
4,807!
700
2 933
473;
701
3, 939
2,596
143
679
521
3,717
2,514
106
592
505
4,198
2 752
108
662
676
4, 004
2,45.")'
95'
647
807
+1 291
+1, 050
+1 493
+803
Unilateral transfers (net) total
Private
do
do
— 1 37f
117
—1 258
— 1 356
—106
— 1,250
— 1 479
111
— 1 368
— 1 914
\J S long- and short-term capital (net) total
Private
Government
do
do
do
—213
192
-21
—206
328
+122
—408
390
-18
—287
—301
+14
— no|
— 1, 104!
Foreign long- and short-term capital (net)
do
+232
+443
+239
+439
Gold sales [purchases ( )]
do
+130
+56
+8
+164
Krrors and omissions
do
—65
+13
+147
+95
FOREIGN TRADE
Indexes
Exports of U. S. merchandise: t
Quantity
Value
Unit value
Imports for consumption: |
Quantity
Value
Unit value
Agricultural products, quantity:
Exports, U. S. merchandise, "total:
Unadjusted
Adjusted
Total, excluding cotton:
Unadjusted
Adjusted
Imports for consumption:
Unadjusted
Adjusted
249
508
204
271
551
203
218
443
203
238
480
202
225
458
203
285
580
203
281
570
203
296
600
203
261
525
201
235
468
199
226
451
199
256
513
199
149
409
275
159
437
276
149
411
276
144
398
276
153
426
279
161
460
285
141
405
286
164
474
289
139
400
288
140
403
287
133
379
284
132
371
231
87
70
90
7-:
72
69
82
94
89
97
90
114
92
119
92
132
75
110
64
80
70
60
102
74
do
do
135
116
123
108
100
99
107
125
114
123
119
141
133
156
120
150
115
145
97
101
109
94
150
116
do
do
99
101
107
106
103
100
95
94
101
90
115
108
96
98
106
114
81
89
78
85
80
85
78
77
thous. of long tons. _
do
5,776
8,830
4,887
9,148
3, 751
8,435
3,855
8,198
3, 965
8,799
5,616
8,232
6,552
8,892
6,570
9,845
6,386
9, 154
6,364
9,117
Exports, including reexports, totalU
mil. of doL_
By geographic regions: A
Africa
thous. of doL Asia and Oceania
do
Europe
do
Northern North America
do
Southern North America
do
South America
do
Total exports by leading countries:A
Africa:
Egypt
do
Union of South Africa
do
Asia and Oceania:
Australia, including New Guinea . .
do
British Malaya
do
China including Manchuria
do
India and Pakistan
do
Japan
do
Indonesia
do
Republic of the Philippines
do
Europe:
France
do
Germany
- do
Italv
do
Union of Soviet Socialist Republics
do
United Kingdom
do
North and South America:
Canada
do
1, 247. 0
1, 352. 6
1,091.5
1,181.5
1, 123. 9
1,425.4
1, 398. 6
1, 474. 2
1, 290. 4
1, 150. 2
1,109.3
37, 730
199, 649
245, 676
224, 740
130, 230
134,129
40, 139
233, 499
296, 900
210, 820
146, 731
152, 735
36,212
169, 995
219, 562
199, 629
131,033
117,026
40, 403
197, 705
246, 191
207, 876
129, 801
124, 424
28, 851
174, 984
222, 065
243, 766
116,330
96, 671
61, 756
234, 484
306, 117
256, 833
166, 798
178, 762
49, 322
202, 834
278, 076
267, 974
132, 824
146, 668
59, 900
181,712
292, 575
242, 929
125, 654
150, 837
46, 736
176, 835
249, 817
219, 896
119, 602
162, 471
49, 525
141, 224
225, 279
215, 117
118, 878
153, 954
48, 916
146, 943
229, 643
213, 547
4, 264
13, 557
2, 692
16, 124
2,546
18, 100
2,724
19, 409
4, 064
12, 147
3, 794
28, 524
3,407
21, 447
3,429
21, 323
2,753
17, 093
2,976
17,201
2,814
18,878
3, 073
IS, 760
19,015
2,542
0
24, 072
75, 232
8,156
23, 654
18, 424
2,996
0
19, 845
83, 896
8,131
33, 307
8,710
1,576
0
10, 019
75, 993
6,876
20, 551
13, 046
2,691
0
17, 369
83, 157
7,112
25, 826
11,685
1,926
0
13, 289
73, 562
5,925
25, 857
14, 986
2,262
4
24, 628
79, 089
7, 126
35, 072
18, 323
2, 857
0
21, 326
62, 099
8,740
26, 467
14. 383
2, 275
0
13, 364
55, 914
8,317
23, 878
17, 574
3,292
0
16, 892
43, 990
5,189
22, 876
17, 816
2,447
0
12, 950
32, 024
3,032
23,421
14, 734
2,412
0
12, 842
32, 140
4,396
29, 897
18, 838
3, 579
12, 547
40, 907
4, 657
31, 348
22, 122
33, 368
24, 135
2
50, 553
30, 887
37, 903
27, 508
1
62, 673
22, 920
31,770
22, 368
0
44, 293
27, 699
39, 292
21, 869
3
49, 748
20, 305
44, 769
15, 627
2
39, 838
31, 693
44, 609
27, 906
2
44, 649
25, 315
39, 898
26, 955
1
46, 297
34, 072
34, 337
32, 186
23
47, 777
22, 586
33, 220
21, 581
86
50, 706
21, 549
32,070
16, 324
78
53, 724
22, 830
31, 145
17, 459
1
61, 910
32, 471
49, 286
28, 179
4
101, 546
1936-38 — 100
do
do
do
do
do
1924-29-100
do
.
Shipping Weight
Water-borne trade:
Exports, incl. reexports!
Gpn^ral imports
r
ValueJ
Latin American Republics, total
Argentina
- Brazi]
Chile
do
do
do -do
' 1, 263. 4"1,219.0
49, 198
158,828
121,960
351, 361
232, 886
139, 864
144, 125
161,779
224, 706
210, 813
199, 625
207, 870
243, 763
256, 827
267, 971
242, 833
219, 877
215,097
213, 533
232, 872
250, 570
10,812
25, 024
9, 583
283, 616
11,498
33, 541
12, 916
236, 172
9, 527
25, 030
5, 263
243, 225
7,748
31, 824
4,580
203,511
4,594
23, 334
5,083
326, 759
8,183
46, 781
7,911
264, 400
6, 058
40, 645
5,494
262, 902
11,396
42, 518
6, 074
268, 002
10, 291
48, 601
4,602
263, 268
14, 193
47, 901
4,364
253, 947
9, 342
39, 865
5,947
287, 136
12. 348
36, 611
6. HQl
17,312
21, 369
27, 846
30, 697
22, 743
24, 900
32, 598
26, 138
29, 510
35, 270
31, 354
33, 673
Colombia. _ « _ _
do
34, 305
36, 154
39, 008
35, 353
32, 798
28, 386
33, 185
34, 109
35, 760
40, 234
36, 721
39. 958
Cuba
- _- do53, 159
63, 128
56, 653
58, 923 62, 238
54, 206
48, 497
53, 953 48, 165 43, 648 48, 282
47, 312
Mexico
do
34, 652
39, 202
41, 129
56. 934
44. 763 48, 043
41.618 46. 966 43. 057 37.229 47.131
47. 433
Venezuela
- - ...
.._ __do- _ _
r
Revised.
*> Preliminary.
{Revisions for 1946-53 for balance of payments appear on pp. 16 and 17 of the July 1954 SURVEY; those prior to August 1953 for foreign trade will be shown later,
cf Excludes military expenditures.
§Excludes "special category" shipments and all commodities, exported under foreign-aid programs as Department of Defense controlled cargo.
ITotal exports and data by economic classes and commodities include shipments under the Mutual Security Program. Total MSP shipments are as follows (mil. doL): November 1953November 1954 respectively—216.5; 215.3; 169.3; 184.4; 203.4; 167.2; 264.2; 359.3; 267.6; 200.4; 156.8; 103.7; 83.7.
AExcludes shipments under MSP and "special category" shipments not made under this program.
SUEVEY OF CURRENT BUSINESS
S-22
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 1955
1954
January
February
March
April
May
June
July
DecemOctober NovemAugust September
ber
ber
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value J— Continued
Exports of U. S. merchandise, total!
mil.
By economic classes:
Crude materials
_
thous.
Crude foodstuffs
Manufactured foodstuffs and beverages...
Semimanufactures 9
Finished manufactures 9
By principal commodities:
Agricultural products, total
Cotton , unmanufactured
Fruits, vegetables, and preparations.
Grains and preparations
Packing-house products
Tobacco and manufactures
of doL _
1,237.3
1, 343. 2 1, 080. 1
1,169.7
1,115.6
1, 412. 9 1, 389. 1
1, 280. 9 1, 140. 9
1, 098. 7 1,251.6
of dol
do
do _
do
do ...
160, 358
69, 664
77, 206
127, 362
802, 690
187, 508
55, 462
69, 998
154, 628
875, 645
133, 447
45, 234
55, 092
131,713
714, 650
134, 323
53, 472
62, 914
142, 367
776, 582
137, 969
55, 74S
69, 620
129 186
723, 124
158,519
65, 793
63, 025
165, 713
959, 843
144, 403 168, 747
65 699
73, 492
61, 772
67, 372
151,847 151 939
951, 967 1,014 906
123, 005
65, 747
55, 394
154, 354
882, 362
121, 853
51, 644
52, 862
152 194
762, 304
126, 224
46 257
59, 721
141 524
725 014
224, 474
64, 567
68, 071
163, 530
731, 002
do
do
do _ .
do
do
do
282, 103
44, 570
20, 031
85, 672
20, 172
41, 465
304, 090
68, 347
18, 294
70, 169
22, 167
53, 252
205, 715
54, 136
15, 755
55 932
15,982
26, 710
236, 064
71,415
19,169
65, 951
20, 005
16, 451
244, 937
80 369
22, 105
60 018
15,066
17, 820
259, 365
79, 777
21,280
65,155
22, 028
22, 355
254, 461
64, 484
27, 758
70 230
21, 991
23, 085
267, 290
83 706
28, 400
58 979
19 647
23, 215
213, 478
43, 290
23, 505
62, 404
21, 785
23, 040
186, 044
35, 403
19, 735
54 228
18, 435
22, 216
193, 149
38 164
20, 448
49 074
16 781
37, 827
312, 047
67, 823
25, 354
66, 979
21, 992
75, 505
955.2
82, 935
69, 931
27, 837
39, 435
1, 039. 2
94, 660
82, 256
18, 480
44, 642
874.4
100,611
63, 208
18, 261
39 969
933.6
113, 927
73, 216
15, 669
39, 077
870.7
102, 810
66, 613
15, 521
35, 791
1,153.5
147, 935
103, 184
23, 309
50, 001
1,134.6
134, 634
86 590
28, 154
38 646
1,195.8
113,054
90 425
29, 701
39 682
1,067.4
104, 683
87 314
25, 617
41, 594
954.8
82, 669
85 387
31, 925
43 742
905.6
81,315
81 626
28, 697
41 408
939.6
80, 931
93, 035
35, 588
45, 562
215, 193
6,682
24, 622
59, 005
18,125
95, 793
249, 630
7,831
27, 933
65, 396
23, 106
113, 550
194, 487
8,954
20, 027
56, 365
16,495
83, 545
218, 269
11,107
24, 831
56,913
20,713
94, 768
200, 172
13,170
24, 253
51,613
11,817
92, 129
298, 255
15, 210
32, 151
78, 356
22, 855
135, 264
258, 677
14, 035
30,411
66, 398
18,710
117,089
243, 638
10,722
27, 762
65, 430
19, 760
109, 599
230, 226
11,818
27, 363
61, 270
15, 235
104, 025
204, 840
10, 089
26, 877
50, 096
20 597
89, 193
208 796
8,192
22, 577
55,316
13, 449
98, 581
214, 810
7,236
23, 378
58, 731
14, 180
99, 743
do
do
57, 984
53, 137
61,261
55, 214
51, 571
47, 368
51,611
52 312
45, 483
43, 957
59, 087
65, 598
59, 772
51,469
65, 494
49, 758
56 738
45, 461
53 408
48, 997
46, 909
51,017
57, 018
57, 434
do
848 707
906, 869
833 704
809 111
857 844
957, 459
828 797
946 744
821 309
824 521
780 678
do
do
do
do
do
do
50, 059
134, 164
196, 286
208. 029
72 371
187, 797
59, 802
126, 230
184, 287
211,718
104, 871
219, 961
55. 813
124, 291
160 641
160, 888
129, 727
201, 346
60, 740
118, 576
155,734
172, 594
133, 367
168, 103
49, 954
119,677
147 593
203, 258
144 410
192, 958
70, 444
159, 985
197, 710
185,912
133,467
209, 942
55 330
144, 867
159 112
193, 338
110 380
165, 766
57 234
155, 108
180 134
219, 824
108 125
226, 320
42 200
132, 990
159 995
201, 679
91 488
192, 958
40 785
148 973
162 231
206' 279
89 868
176 387
31, 543
142, 120
171,945
205, 055
68,973
161, 043
do
do
975
7,637
1,149
8,248
1,433
6,616
1,178
6,853
3,037
9,170
4,083
8,253
2,244
9,790
1,658
7,782
1,646
9,409
1,947
7,708
5,745
6,851
12, 149
13, 307
11,878
13,918
12, 253
11, 484
8, 361
10,176
4,989
11,529
9,046
14, 780
9 636
18, 848
9,611
12, 232
10, 578
17, 496
13, 192
13, 519
7,623
15, 642
20, 085
21, 557
14, 291
19, 493
19, 630
17. 867
13,169
17, 765
20, 342
17, 693
12, 577
18, 534
20, 932
15, 563
12, 369
19, 346
21,491
16, 178
10, 714
19, 408
15, 474
13, 137
1,958
20, 656
29, 510
13, 542
29, 362
17, 928
22, 764
13, 052
23, 658
16,817
23, 672
17, 596
31,313
19, 305
22, 155
10, 997
27, 814
17, 443
27, 427
16, 260
24, 604
19,039
27, 336
13, 537
22, 457
15, 268
24, 360
18, 383
17, 435
do
do
do
do
do
15,018
22 892
18, 330
12, 523
20, 939
13, 386
11,010
21,511
8,777
10, 901
17, 958
11,655
10, 278
18, 983
10, 551
36, 973
37, 457
14, 680
26, 132
10, 754
1,146
45, 042
12, 674
24, 841
11,804
1,038
38, 860
12, 158
23, 640
10, 924
1,604
43, 083
14, 985
25, 380
14, 308
41,211
12, 229
21, 750
10, 865
1, 065
40, 429
13, 065
20, 913
9,724
42, 481
15,217
28,611
13, 045
1,342
48, 370
41, 263
do
207, 781
211, 642
160, 826
172, 541
203, 226
185, 879
193, 328
219, 782
201, 437
206, 175
204, 898
201, 607
277, 881
7,307
50,212
13,591
39, 911
36, 710
34, 009
38, 085
317, 252
10, 481
61,501
14, 183
41,881
43, 656
40, 294
47, 129
324, 397
13, 539
84, 707
12, 113
38, 629
48, 058
37, 854
41, 598
261, 327
7,112
44, 991
17, 863
38, 236
49, 413
23, 457
38, 634
317, 005
11,526
39, 997
37,154
72, 747
38, 256
26, 748
40, 113
268, 307
11,415
38, 961
23, 705
57, 450
34, 527
19, 534
37, 908
252, 123
8,942
34, 265
14, 818
51, 595
37, 667
24, 358
38, 674
216, 263
8,016
34, 181
15, 260
34, 347
26, 805
19, 558
40, 138
194, 180
6,500
59, 125
6,724
15, 554
19, 791
20, 950
37, 412
Non agricultural products, total. _
mil. of dol
Automobiles, parts, and accessories thous. of dol
Chemicals and related products§cf
do
Coal and related fuels
do _
Iron and steel -mill products
do
Machinery, total§
Agricultural
Tractors, parts, and accessories
Electrical§
Metalworking§
Other industrial__
do
_ _ . _do _ .
do
do. _
do
___do .
Petroleum and productscf
Textiles and manufactures
General imports total
By geographic regions:
Africa
Asia and Oceania
Europe
Northern North America
Southern North America
South America
By leading countries:
Africa:
Egypt
Union of South Africa
Asia and Oceania:
Australia including New Guinea
British Malaya
China including Manchuria
India and Pakistan
Japan
Indonesia
Republic of the Philippines
Europe:
France
Germany
Italy
Union of Soviet Socialist Republics
United Kingdom
North and South America:
Canada
Latin American Republics, total
Argentina
Brazil
Chile
Colombia
.
Cuba
M^exico
Venezuela
Imports for consumption total
By economic classes:
Crude materials
Crude foodstuffs
Manufactured foodstuffs and beverages
Semimanufactures
Finished manufactures
By principal commodities:
Agricultural products total
Cocoa or cacao beans incl shells
Coffee
Hides and skins
Rubber crude including guayule
Sugar
-- Wool and mohair, unmanufactured
do
do
do
do
do
do
do
624
913
577
694
711
do
do
do
do
do
do
do
do
239, 075
7,513
79, 480
6, 892
35, 061
17, 659
21, 101
36, 564
301, 239
6,322
91, 259
8, 053
51,376
22, 445
27, 204
42, 225
309, 312
5,103
80, 984
13, 832
37, 954
33, 638
31,715
42, 739
435
717
374
854
37, 861
348
189
118
999
39, 504
261
695
763, 173 P 847 000
37, 742
127, 219
182, 073
201, 653
69, 231
145, 258
610
269
524
do
838, 617
895, 780
842, 958
816,316
874, 023
943, 462
829, 731
971, 607
819, 779
826, 540
776, 778
760, 741
197. 887
193, 546
79, 378
185, 148
182 658
203, 179
247, 551
75, 445
186, 347
183 255
206, 958
232, 363
82, 408
174, 760
146 468
195, 888
203, 327
88, 069
166, 219
162, 813
208, 251
208, 505
97, 905
183, 540
175 822
197, 956
241, 098
123, 309
183.212
197,886
203, 466
168, 214
106,112
175, 124
176, 814
225, 389
199, 968
110,872
242, 584
192, 794
185, 251
159, 202
93, 622
192, 272
189, 432
207, 398
142, 208
96, 615
194 700
185 618
197, 765
114, 793
86, 332
195, 137
182, 751
180, 801
123, 591
76, 189
187, 025
193 136
do
do
do
do
do
do
do
321, 956
5 849
131, 068
4,103
23 177
15, 937
16, 988
372, 396
23 929
175, 189
3,775
19, 704
16, 916
14, 453
371,633
35 681
162, 458
3,474
18, 678
32, 006
19, 433
340, 087
25, 102
141,089
3,132
17, 080
36, 852
14, 621
361, 962
11,940
158,351
4,215
18, 855
45, 467
18, 975
427, 798
16,317
175, 751
6,016
19,461
52, 405
22, 660
327, 860
15, 049
106, 465
6, 693
21,401
42, 948
19, 576
372, 183
28, 824
127, 551
4, 885
26, 948
47, 699
21, 963
300, 844
23, 267
101, 651
4,696
17, 610
39, 445
19, 022
304 453
16 180
90 126
4 896
27 214
41, 740
19 145
259, 889
17, 291
64, 630
3,686
22, 564
30, 403
18, 533
252, 241
12, 822
75, 993
3,967
24, 371
16, 651
17, 689
516, 661
3,081
523, 383
7,924
471,325
6,844
476, 230
7,540
512, 062
5,023
515, 664
6, 424
501,870
7,173
599, 424
5,375
518, 936
6,570
522, 087
4,805
516, 888
5,297
508, 500
2,838
87, 757
19, 133
16, 225
24, 713
49, 433
67, 377
88, 622
19, 220
18, 737
23, 384
53, 823
76, 506
90, 994
20, 837
18,911
20, 657
42, 423
70, 077
89, 152
32, 254
12,068
24, 873
46,515
67, 000
97, 469
26, 202
13, 718
24, 920
53, 643
74, 566
'
88, 098
27, 685
12,286
20, 532
47, 597
62, 135
98, 182
31, 201
11,223
20, 115
49, 478
65, 596
153, 634
48, 889
19, 782
28, 048
52, 529
67, 059
97, 278
37, 312
9,032
23, 884
46, 947
64, 684
96, 428
32, 542
16,055
25, 082
52, 063
62, 988
89, 048
31, 767
13, 660
25, 560
47, 487
64, 401
73, 197
17, 797
16, 015
25, 421
49, 651
67, 032
Revised.
*> Preliminary.
JRevisions prior to August 1953 will be shown later
JSee similar note on p. S-21.
9 Data for semimanufactures reported as "special category, type 1" are included with finished manufactures.
§Excludes "special category, type 1" exports.
cf Exports of jet fuel (totaling $1,719,000 in 1953) are included with petroleum and products beginning January 1954; with chemicals prior thereto.
727
r
do
do
do
do
do
No nagri cultural products, total
do
Furs and manufactures
do
Nonferrous ores, metals, and manufactures, total
thous of dol
Copper incl ore and manufactures
do
Tin, including ore
do
Paper base stocks
do
Newsprint
do
Petroleum and products..
do
r
361
1, 463. 1
"
SURVEY OF CURRENT BUSINESS
January 1955
S-23
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
1954
Novem- December
ber
January
February
March
April
May
June
August
July
Septem- October Novem- December
ber
ber
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Airlines
Operations on scheduled airlines:
Miles flown, revenue
thousands
Express and freight ton-miles
flown
do
Mail ton-miles
flown
do
Passengers carried revenue
do
Passenger-miles flown, revenue
millions.-
37, 765
14, 485
6,134
2,015
1,064
39, 361
16, 945
8,834
2,083
1,167
39, 035
13, 494
6,093
2,023
1,176
37, 345
12, 880
6,07C
2 038
1,117
41, 402
14, 735
6,816
2,252
1,257
41, 281
14, 964
6,767
2,485
1,334
42, 758
14, 780
6,344
2, 520
1,363
42, 344
14, 669
6,199
2,701
1,525
44, 190
13, 793
6,045
2 687
1,514
37, 859
12, 704
6,053
2, 471
1,392
42, 095
16, 478
6,160
2,621
1,436
43, 008'
18,759
6.549
2,673
1,414
30, 626
11, 918
38, 974
16, 557
27, 425
8,768
27, 850
9,502
33, 063
13, 977
31,215
12, 492
28, 003
9,903
31, 588
12, 760
27, 061
9,062
28, 808
10, 759
30, 318
8,696
30, 784
11,982
13.2
13.2
13.3
13 4
13.4
13.5
13.6
13.7
13.7
13.8
13 9
13.9
119 400
130, 300
130, 400
122 300
119, 900
117, 500
116, 400
114,500
123, 400
2,708
2,711
3,629
Express Operations
Transportation revenues
Express privilege payments
thous of dol
do ...
Local Transit Lines
Fares average cash ratef
Passengers carried, revenue
O perating revenues
cents
millions
thous of dol
946
883
127, 600
142, 100
856
124, 700
905
803
874
834
806
749
740
785
816
14.0
820
Class I Motor Carriers (Intercity)
Carriers of property (quarterly totals) :§
Number of reporting carriers. _
Operating revenues, total
thous. of dol._
Expenses total
do
Revenue freight carried
thous. of tons
* 1, 882
r 859, 764
868
914
r
65, 031
Carriers of passengers (quarterly totals):
Number of reporting carriers
Operating revenues, total
thous. of dol
Expenses total
do
Revenue passengers carried
thousands
' 2, 042
' 844, 448
807,
973
r
64, 697
' 2, 037
r 814, 650
791, 010
' 63, 282
r
r
r
165
169
169
93, 969
90, 005
84 726
78, 935
81, 034
76 172
93,176
83, 932
81 143
Class I Steam Railways
Freight carloadings (A. A. R.):cf
Total cars _
._
thousands.
Coal
do
Coke . . . _ - _ _ do _
Forest products
do
Grain and grain products
__do
Livestock
do
Ore
- _
__do. _
Merchandise, 1. c. 1
do
Miscellaneous
do
Freight carloadings (Federal Reserve indexes):
Total, unadjusted
1935-39=100
CoaL
_ _
--do
Coke
do _
Forest products
__
do___
Grain and grain products __
_ _ _
_ do
Livestock
do
Ore
do
Merchandise, 1. c. 1
do
Miscellaneous
do
Total, adjusted
_
do
Coal
.do
Coke
_ do
Forest products . _
_____
_ do._
Grain and grain products
do
Livestock
do
Ore.
_
_
do
Merchandise, 1. c. 1
do
Miscellaneous
do
Freight-car surplus and shortage, daily average:
C a r surplus, total _ _ _ _ _ - _ _ _ _ _ _ numberBox cars
do
Gondolas and open hoppers
_ _ _ do.__
Car shortage, total__
_ . _ _ _
_
_ do _
Box cars
do
Gondolas and open hoppers
_.. do _ _
Financial operations:
Operating revenues, total
thous of dol
Freight
do
Passenger
do
Operating expenses
do
Tax accruals, joint facility and equipment rents
thous of dol
Net railway operating income
do
Net income. _ _ _ _
_
do
Operating results:
Freight carried 1 mile
_
mil. of ton-miles
Revenue per ton-mile
cents
Passengers carried 1 mile, revenue.
_ millions
2,797
485
47
168
188
47
179
259
2,413
451
43
150
155
00
68
236
2,967
2,462
2,412
2,445
584
49
175
208
37
80
286
421
37
158
173
24
63
253
383
34
156
166
28
58
261
378
31
157
162
31
79
253
3,345
2,730
3,251
507
37
205
228
38
303
309
439
29
163
214
23
285
235
433
35
178
312
31
351
290
438
27
155
212
31
249
252
452
29
162
199
46
228
248
635
43
230
268
77
246
327
2,685
2,518
493
35
170
220
47
110
247
487
36
169
185
34
62
239
1,423
1,279
1,548
1,332
1,325
1,356
1,718
1,342
1,621
1,344
1,348
1,803
1,363
1,306
124
104
155
142
137
86
160
43
140
1C8
97
142
120
112
56
62
38
124
108
100
126
122
124
56
58
38
122
107
87
116
128
122
43
55
40
126
105
78
105
126
117
51
51
41
125
108
79
96
127
118
55
88
40
128
114
84
93
133
127
53
224
39
130
116
85
93
132
158
41
255
38
129
114
80
91
120
181
47
255
38
126
114
90
87
125
149
56
217
40
127
120
98
97
140
147
89
205
41
133
124
105
109
149
150
111
170
41
136
121
106
116
143
159
85
98
41
134
114
106
125
137
133
60
57
40
127
122
104
155
145
140
69
172
42
134
117
97
135
135
119
58
201
40
132
120
100
120
136
124
58
231
39
133
117
87
109
133
124
54
222
41
134
112
78
104
126
127
64
177
41
132
111
79
98
127
134
62
136
39
130
112
84
94
128
144
58
136
39
128
111
85
95
127
155
54
164
38
125
109
80
94
119
151
54
159
38
125
111
90
90
119
138
59
145
40
126
111
98
98
129
131
67
137
39
123
115
105
111
141
150
72
109
40
125
118
106
116
14f
163
68
109
40
129
123
106
119
154
142
62
184
41
135
25, 326
3,381
16, 65f
1,388
1, 125
85, 062
17 637
56, 383
126, 957
33 501
79, 358
112, 442
22 045
78, 680
130, 775
21 318
98, 605
136, 335
22 908
100, 848
126, 845
23 609
88, 59(
86, 150
19 07G
56, 783
95, 994
11 937
74, 775
81, 002
10, 688
60, 603
72, 134
8,923
52, 598
44, 922
3,402
33, 041
2,854
2,405
29, 482
1 200
20, 505
2,193
2 077
40, %0
2,348
27, 410
167
153
119
15
832, 363
702, 006
61,766
657, 496
815, 400
661 347
74, 531
697, 038
749 826
617 122
69, 994
626 806
722 334
602 71f
57, 437
586 934
96 340
78, 526
58, 960
40 445
77, 917
72, 108
90 446
32 574
17, 594
49, 763
1.466
2,297
45, 16f
1 520
2,770
8,654
5,776
2,878
3,104
36f
247
20
465
330
22
200
181
6
261
245
0
393
375
15
699
689
0
447
442
998
964
0
139
2f
794
540
464
597
804, 767
664 232
73, 422
623, 326
781, 619
652, 951
62, 312
607, 388
804, 392
678, 755
57, 327
611,780
793
669
57
597
98 504
79 680
58, 970
90 094
71 103
49, 365
97 368
84, 073
64, 210
94 027
80, 204
58, 329
101 737
90, 875
75, 402
101 884
94 118
49, 117
1 363
2,285
47, 637
1 443
2,644
46 914
1 427
2 879
48, 921
1 405
2,926
48, 175
1.402
2,406
52,712
1.344
2,192
8,830
5 893
2 936
9,886
6 645
3 241
9 726
6 626
3 101
10 171
7 113
3 059
9,511
6 659
2,852
3 408
3 475
1.038
3 377
1.031
2 954
3 127
3,227
3,329
1.002
534
217
54C
993
765 963
637 994
59, 645
611 773
765, 121
638 974
60, 395
616 844
803, 521
666 029
69, 271
625 33"
90 983
44 418
21,545
102 912
69 628
48, 864
94 149
60 041
38, 709
89 396
58 881
38, 659
46 107
1 411
2,635
43 047
1 459
2,129
46, 190
1 509
2,19
45 224
1 467
2,221
8,069
5 657
2,412
7,692
5 431
2 262
7,707
5 373
2 334
7,684
5 268
2 417
3,587
1.026
3 159
2 901
3,533
969
777
946
802
674
58,
629
740
716
24
779
642
72
618
244
237
0
015
535
515
013
Waterway Traffic
Clearances, vessels in foreign trade:
Total U. S. ports. _ _ _
thous. of net tons
Foreign
do
United States _
_
do
Panama Canal:
Total
__
thous. of long tons
In United States vessels
do _ _ _
r
952
977
878
985
932
3 132
991
Revised.
iData have been revised (beginning August 1945) to include fares charged by transit companies operating in cities having a 1950 population of 25,000 or over; revisions prior to August 1952
will be shown later.
§ Data have been revised to cover intercity carriers of all types of commodities, including common carriers of general and special commodities and contract carriers. It should be noted
that the data for 1945-53 shown in BUSINESS STATISTICS (1953 edition) and in the October 1953-December 1954 issues of the SURVEY are for carriers of general commodities only. Revised
data for 1945-52 will be shown later. Revisions for the first three quarters of 1953 (in order and in units as above): 1st quarter, 2,037; 853,533; 799,355; 66,695; 2d quarter, 2,042; 897,742;
844,780; 69,515; 3d quarter, 1,894; 887,379; 846,405; 68,835.
cf Data for January, May, July, and October 1954 are for 5 weeks; other months, 4 weeks.
SUEVEY OF CURRENT BUSINESS
S-24
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 19-~.j
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION— Continued
Travel
Hotels:
Average sale per occupied room
dollars. .
Rooms occupied
percent of total
Restaurant sales index
same month 1929=100-Foreign travel:
U. S. citizens: Arrivals
number-Departures
do
Aliens 1 Arrivals*
do
Departures*
do_ _ _
Passports issued
do
National parks, visitors
thousands
Pullman Co.:
Revenue passenger-miles
__
_ millions
Passenger revenues
thous. of dol .
COMMUNICATIONS
Telephone carriers: 9
Operating revenues
thous. of dol.
Station revenues
do
Tolls, message
- _ - do
Operating expenses before taxes
do
Net operating income
- - -- do .
Phones in service, end of month
thousands. _
Telegraph, cable, and radiotelegraph carriers:
Wire -telegraph:
Operating revenues
thous. of dol_ .
Operating expenses, incl. depreciation
do
Net operating revenues
do
Ocean-cable:
Operating revenues
_ do
Operating expenses incl depreciation
do
Net operating revenues
do
Radiotelegraph:
Operating revenues
do
Operating expenses incl depreciation
do
Net operating revenues
do
7.53
71
243
6.75
60
231
6.96
72
242
7.04
75
247
6.75
74
232
7.43
73
251
6.71
75
277
7.25
75
267
6.91
66
237
7.66
7.55
74
253
7.71
7.76
248
262
250
67,611
50, 160
44, 460
31,127
18, 351
434
64, 038
55, 462
43, 379
35, 332
21,398
296
59, 348
64, 303
41,127
26, 556
29, 069
286
62, 290
68, 680
34, 617
24, 835
34, 695
364
76, Oil
76, 910
44, 905
30, 565
53, 990
395
72, 722
87, 138
52,115
37, 804
58, 430
654
78, 179
91, 220
56, 280
39, 479
56, 776
1,190
92, 068
130, 168
57, 066
52, 266
53, 432
2,472
113,018
127, 507
62, 056
46, 236
36, 707
4,127
146, 742
94, 034
64,504
43, 530
34, 263
4,213
126, 750
73, 984
70, 574
45, 403
26, 023
2,010
88, 706
593
7,760
612
8,010
783
10, 278
620
8,151
621
8,160
576
7,559
565
7,415
621
8,167
577
7,601
640
8,422
574
7,543
583
7,647
395, 803
235, 545
128, 289
271. 313
50, 842
43, 750
410, 793
240, 455
137,870
289. 333
52, 273
43, 963
399, 014
238, 752
127, 521
271,649
50, 381
43,915
388, 373
235, 457
120, 348
264, 804
48, 323
44, 040
410, 977
241, 184
136, 479
287, 136
48, 277
44, 188
408, 652
241,991
133,437
280, 195
50, 511
44, 350
411, 182
241, 779
135,373
279, 732
51, 845
44, 514
415, 760
243, 104
138, 921
285, 347
49, 889
44, 621
414, 837
240, 459
139, 800
287, 388
61, 957
44, 766
421, 562
243, 050
144, 225
286, 027
55, 790
44, 920
422, 311
246, 076
141, 432
293, 280
52. 414
45, 129
431, 445
251, 172
145, 088
290, 427
59,615
45, 345
15, 872
14, 570
689
17,991
15, 721
1,668
15, 795
14, 818
164
15, 255
13, 873
593
17, 525
15,074
1,628
17, 089
14, 824
1,442
16, 730
15, 004
904
17, 768
15, 445
1,499
17,111
15, 803
494
18, 072
15, 555
1,741
18, 447
15, 861
1,856
18, 267
15, 552
2,023
2,487
1,836
442
2,892
1,946
704
2,480
1,862
390
2, 485
1,839
433
2,860
1,876
731
2,635
1,898
501
2,724
1,940
539
2,848
1,999
579
2,704
1,918
525
2,595
1,967
377
2,743
1, 794
701
2,733
1,721
761
2,403
2,097
194
2,711
2,381
226
2,435
2,166
134
2, 346
2,069
144
2,647
2,211
311
2,490
2,153
208
2,516
2,157
222
2,620
2,191
285
2,599
2,217
248
2,557
2,179 !
255 i
i
2,611
2, 320
159
o 652
*> 112'
426
56, 752
21,659
1,104
. .
22. 000
428
..
25, 005
...
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production: $
Ammonia, synthetic anhydrous (commercial)
195, 552 200, 573 209. 972 206, 358 237, 535 232, 246 249, 837 216, 786 211,310 222. 430 210, 938 230, 098 238, 463
short tons
65, 321
65. 072
60, 295
53, 554
65, 499
60,915
59, 984
61, 201
58, 435
54, 351
56, 544
58, 857
59, 578
Calcium carbide (commercial) _
do
45, 521
65, 720
58, 934
50, 648
50, 501
50, 539
77, 697
46, 564
46, 477
78, 407
76, 725
69. 490 r 59, 186
Carbon dioxide liquid gas, and solid
do
260,
052 250, 837
234,
640
227,
955
243,
729
247,
890
227,
830
244,
252
245,
109
231,336
206,
337
227,
040
243,
403
Chlorine, gas
- do__
T
62, 362
59, 504
57, 666
62, 914
64, 211
64, 482
61,351
62, 396
58, 210
60, 122
63, 270
62, 998
61. 871
Hydrochloric acid (100% HC1)
do
1,026
1,539
1,084
0
278
1,055
1,063
323
Lead arsenate (acid and basic)
- do 0)
(^
0)
0)
0)
157, 485 164, 122 161, 134 152, 456 155, 156 148, 261 157,705 149, 383 162, 502 166, 192 167. 012 184, 188 193, 343
Nitric acid (100% HNOs)
do
1,908
1,935
1,742
1,895
1,932
1,723
1,611
1,768
1,823
1,863
1,765
1,998
1,694
Oxvgen (high purity)
_
mil. of cu. ft 217, 175 210, 241 248. 636 234, 740 264, 625 264, 979 263, 086 240, 009 221, 223 232, 995 219, 823 245, 893 247, 507
Phosphoric acid (50% HjPO*)
short tons
Sodium carbonate (soda ash), ammonia-soda process
394, 015 378, 658 371, 622 370, 311 424,112 404, 856 413, 268 378, 233 380, 061 374, 831 390, 280 408. 559 399, 961
(58% NazO)
short tons
9,294
8. 452
8,968
9,530
8, 525
8,126
7,810
7,752
7,954
7,049
7, 559
7. 263
7,913
Sodium bichromate and chromate
do
262, 119 260. 651 267, 083 240, 529 278, 210 276, 481 287. 773 289, 484 291, 039 284, 240 286, 262 299. 587 292. 587
Sodium hydroxide (100% NaOH)
--do _.
Sodium silicate, soluble silicate glass (anhydrous)
49, 144
49, 184
54, 730
58, 458
43, 957
52, 261
55, 72S
39, 073
50, 383
46, 608
49, 760
39, 983
60. 910
short tons
Sodium sulfate, Glauber's salt and crude salt cake
64, 569
70, 787
80, 162
62, 785
65, 409
71,468
70, 615
73, 173
71,948
62, 457
71, 110
63,000
62, 930
short tons
Sulfurie acid:
1,194
1,224
1,108
1,092
1,135
1.165
1,182
1,097
1, 183
1, 178
1,067
1, 121
Production (100% HaSO^
thous. of short tons
1, 242
Price, wholesale, 66°, tanks, at works
22.35
22.35
22. 35 f 22. 35
22.35
22.35
22.35
22.35
22.35
22.35
22. 35
22.35
22.35
dol per short ton
Organic chemicals:
Acetic acid (synthetic and natural), production
39, 012
31, 754
28, 804
30, 537
37,113
40, 132
38, 979
36, 515
44, 691
42. 004
38, 754
36,111
thous. of Ib
52, 836
48, 469
50, 342
53, 336
49, 075
47, 823
57, 415
51, 786
51,863
69, 282
09, 104
Acetic anhydride, production
do
61,777
1,192
1,227
922
1,337
1,072
987
1,056
1,105
1,213
Acetylsalicylic acid (aspirin), production
-do - 1,136
1,250
1,151
Alcohol, ethyl:
32, 594
37, 268
35, 465
36, 521
27, 112
23, 912
34, 608
32. 850
28. 793
Production
thous. of proof gal. . ' 30, 271 26, 312
30. 650
33, 552
44, 347
46, 976
' 56, 528 54, 152
51, 132
46, 531
47, 590
55, 777
51, 403
57, 509
56, 552
53, 587
54, 089
Stocks, total
do
24, 978
26. 183
30, 779
25, 850
33, 204
28, 138
32, 887
35, 690
36, 443
In industrial alcohol bonded warehouses
do._._ ' 38, 336 35, 762
35, 996
33. 881
19, 368
20, 681
20, 794
19, 452
20, 353
18, 390
18, 199
18, 192
20, 087
21, 066
20, 700
20, 556
20, 208
In denaturing plants . do
32, 636
32, 357
33, 676
33, 664
27, 880
28, 122
26, 171
27, 603
Used for denaturation
do
31, 583
29. 956
29, 825
29, 733
32, 3SG
644
962
835
697
978
982
1, 194
941
923
725
1, 113
984
Withdrawn tax-paid - ... - - _ d o
854
Alcohol, denatured:
18, 172
17, 574
18, 176
14, 171
17, 057
15, 149
17,511
14, 906
15, 213
10, 000
16, 181
16. 106
17, 471
Production
thous. of wine gal
17, 200
17, 394
18, 430
17, 582
17, 451
13, 332
16, 580
15, 678
16, 210
10, 805
15, 878
Consumption (withdrawals) ._ .
- do 17,308
16,817
6, 704
7,377
7,637
6,412
5,421
8,702
7,483
7,377
6,603
5, 512
7,002
6, 276
Stocks
do
5, 500
14, 792
9,852
15, 750
15,417
11, 206
13, 079
15, 052
13,151
10, 208
9,188
Creosote oil, production
_
--thous. of gal
9. 240
9, 7o2
6, 039
7,849
6, 000
5,909
3,018
5, 376
6, 436
5, 859
5, 165
5, 952
6.. 212
Ethyl acetate (85%), production
thous. of lb_.
0, 900
Glycerin, refined (100% basis):
High gravity and yellow distilled:
6, 804
5,475
5,798
0, 675
5,985
5,013
6, 325
7,135
3 740
4 086
4 003
Production
do
5 007
4 804
5, 576
6,461
5,820
5,756
6,169
5,753
5,630
6,136
6,685
5, 460
5,922
Consumption
do
5, 770
5 909
19, 084
17, 464
18,294
18, 422
17, 259
16, 712
15,939
19, 201
16, 791
18, 775
Stocks
do -13, 435
12, 782
15, 005
Chemically pure:
14,099
15, 142
13, 113
11,654
12, 743
11,238
10, 196
12, 391
14, 023
11, 203
11,904
Production
do--11, 031
12,917
9,647
8,809
8,662
9,229
8,718
8, 706
8,558
9,193
8,418
9,531
9, 279
Consumption
do
9 499
8 900
29, 259
28, 941
27, 689
27, 986
27, 120
28, 645
25, 144
23, 520
27, 161
23,011
17, 889
20. 540
Stocks
..do- 17 445
Methanol, production:
172
164
152
169
170
162
165
184
151
173
177
160
Natural (100%) t
thous. of gal. 14, 580
12, 459
14,079
14, 15L
12, 063
13, 735
12, 905
13, 973
12, 979
12, 896
13, 147
15 319
Svnthetic (100%)
do
20, 277
19, 133
21, 409
19, 215
18, 532
19, 652
23, 258
20, 233
19, 129
22, 136
Phthalic anhydride, production
thous. of lb. . 18, 848
24, 047
r
l
Revised.
P Preliminary.
Not available for publication.
*New series. Compiled by the U. S. Department of Justice, Immigration and Naturalization Service. Data relate to the arrivals and departures of aliens, by sea and by air, between ports
of the United States and noncontiguous foreign territory. These statistics do not include border crossers, seamen, military personnel, traffic between continental United States and insular
possessions, and cruise travelers. Data prior to 1953 will be shown later. (Old series covered emigrant and immigrant aliens only.)
9 Data beginning January 1954 cover 38 companies (those having an annual gross operating revenue of $1,000,000 or more). However, the smaller number of companies continues to account
lor over 90 percent of the annual gross operating revenues of the industry.
^Revisions for 1952 (also 1951 for ammonia and hydrochloric acid) will be shown later.
SURVEY OF CURRENT BUSINESS
January 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-25
1954
January
February
March
April
May
June
July
DecemAugust SeptemOctober November
ber
ber
CHEMICALS AND ALLIED PRODUCTS—Continued
FERTILIZERS
Consumption (10 States) 9
Exports, totall--_
_
__
Nitrogenous materials
Phosphate materials !
Potash materials
thous. of short tons
__
short tons
do
__do _ _ _
do
Imports, total!
_ _ _ do _
Nitrogenous materials, total
_
do
Nitrate of soda
__
- do _
Phosphate materials!
do
Potash materials
_ _
do .
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
port warehouses
dol. per short ton
Potash deliveries
short tons
Superphosphate (100% A.P.A.)cf
Production
short tons
Stocks, end of month. _ _ _
__ _ do __
362
399
1 717
239, 183
13 292
209, 516
10 057
152
211, 682
25 205
180, 810
4,590
1 772
273, 388
16 766
242, 731
10 444
171
302, 268
38, 307
252, 284
7 325
1 111
197, 702
40 160
148, 378
6 519
434
248, 717
7,023
223, 316
6 831
310, 071
6 966
292, 538
8 526
262, 196
21, 272
227, 693
10, 716
306, 751
24, 293
268, 815
10, 112
409, 734
39 477
356, 048
11 358
364, 339
29 881
323, 734
6 858
T
508
453, 853
20 585
420, 435
9 030
154, 285
112, 153
39, 832
8 783
19, 821
183, 504
143, 369
45, 769
9 553
20, 864
238, 752
200, 085
65, 277
13 062
11,271
252
207
44
10
13
607
263
464
909
324
338, 283
259 781
89 083
3 725
33 633
338, 161
243, 103
85 533
14 898
38 073
250, 103
179, 594
67, 517
20 591
8,079
225, 784
178, 599
98, 419
14 157
3,049
111, 839
76, 583
35, 666
12 532
7,595
140
93
30
11
18
624
905
550
610
705
202, 152
139 914
37 439
9 175
31 925
189, 222
100 361
33, 725
8 690
24 381
53.00
123 839
53.00
125 933
53.00
155 234
53 00
196 283
53.00
261 059
53.00
221 146
53.00
147 975
53.00
80 319
53.00
100, 591
53 00
123 856
53 00
137 216
r
51. 25
167 070
•p 51. 25
150 221
161 878
274, 533
173 747
290, 794
183 643
306, 774
187 464
286 325
227 696
234, 936
216 618
185, 090
182 637
198, 809
165, 683
248, 229
184 713
278, 135
191 631
295 972
8.75
8.80
*>9. 25
72
72
v 72
937
1 083
57 824
512
974
282
128, 618 ' 144 345 153 368
273, 746 287, 371 274, 194
T
r
488
NAVAL STORES
Rosin (gum and wood) :
Production, semiannual total
drums (520 Ib.)
Stocks, end of period
do
Price, gum, wholesale, "WG" grade (N. Y.), bulk
dol. per 100 lb_.
Turpentine (gum and wood) :
Production, semiannual total
bbl. (50 gal.)
Stocks, end of period
_
do
Price, gum, wholesale (N. Y.)
dol. per gal
1 005,880
891 850
817, 950
828 080
8.85
9.00
9.00
9.00
9.00
240, 580
196, 910
8.75
8.75
8.65
8.55
8.65
327, 910
181, 710
60
60
60
.60
.60
941
931
786
541
60 424
59
61
61
60
971
62, 886
1,027
54, 621
1, 061
52 75'?
1,035
55 303
370
3,023
3 022
469
437
472
3 090
3 170
3 239
368, 503
129 803
252, 586
364, 171
128 876
264, 848
354, 916
124 832
269, 246
309, 854
123 883
257 901
325, 234
133 470
268 342
52, 507
36 026
86, 410
49, 098
29 540
81, 970
49, 251
27 084
83, 322
47, 667
29 878
74 698
2 933
11,138
79 383
5 296
9,302
72 711
9,070
68 768
592
572
596
546
595
537
545
523
947
1 005
1,260
1 025
1 323
1 337
72
MISCELLANEOUS
Explosives (industrial), shipments:
Black blasting powder
_ thous. of Ib _
High explosives
_ _ _ _
do
Sulfur (native) :
Production
thous. of long tons__
Stocks (producers')
do
437
55, 330
58, 489
•
527
55, 395
445
465
3 190
3 193
455
3,203
472
3,259
3 289
3 229
3 240
3 210
310, 169
118 886
262, 682
304, 763
119 467
262, 393
309, 102
113,337
245, 855
307, 271
89, 573
251, 266
310, 353
127 022
233 363
325, 073
131 975
224 215
355,012
127 040
213? 063
388 542
129 907
228 252
46, 502
31 977
72, 430
47, 681
28 431
64, 371
49, 641
22 606
69, 182
46, 879
24, 157
68, 982
46, 072
19, 147
72, 512
47 026
23 987
72 888
46 746
24 267
71 630
49 362
28 429
66 338
53 958
27 464
73 142
371
358
9 171
46 297
10, 697
41 170
2 066
13 768
37 253
8 317
11, 047
34 753
19, 164
11,407
44, 101
25, 903
11, 038
56, 026
13 410
10 269
51 260
26 732
13 149
65 710
12 514
11 340
56 222
5 194
12 041
67 465
542
556
475
521
429
495
382
445
366
346
380
416
440
435
599
532
579
536
593
575
933
599
924
667
834
54 756
55 918
722
462
754
59 571
439
58, 619
454
467
FATS, OILS, OILSEEDS, AND BYPRODUCTS
Animal fats, greases, and oils:
Animal fats:
Production! ___
thous. of Ib
Consumption, factory,
do
Stocks, end of month
_
do
Greases:
Production..
.
do
Consumption, factory
_
do
Stocks, end of month
__
do
Fish oils:
Production! _ _
_
do
Consumption, factory
do
Stocks, end of month
do
Vegetable oils, oilseeds, and byproducts:
Vegetable oils, total:
Production, crude!
mil. of lb_
Consumption, crude, factory!
do
Stocks, end of month : J
Crude
do
Refined
do
1,149
840
995
985
915
793
1,323
1 307
1,223
709
1,150
629
1,086
1 018
Exports
thous. of l b _ _
42, 984
57, 676
80, 988
72, 232
78, 866 109, 314 155, 012 150, 398
90, 075 122, 309
40, 636 120, 900
Imports, total!
do
39, 926
44, 439
33, 892
28, 821
24, 502
21,315
38, 225
43, 053
29, 458
54 046
38 291
43 901
Paint oils
_
do _
4,402
8,186
7,453
r 3 868
5,731
1,410
2 746
3,816
9 017
1,368
1 058
2 078
All other vegetable oils!..
do
35, 525
27, 411
34, 036
23, 134
25, 642
30, 039
36, 986
28, 160
18, 569
41, 823
52 987
34? 423
Copra:
Consumption, factory
short tons
29, 949
27, 497
27, 066
27, 599
29 646
23 030
30, 074
24 327
26, 871
27 480
33 811
30 072
25 257
Stocks, end of month
_.
do
13 272
14 877
15 715
12 504
10 433
8 181
12 569
15 130
16 446
20 446
21 808
27 508
16 133
Imports
do ._
33, 603
27, 726
26 231
25, 371
27, 274
19, 201
26 365
34, 128
31, 106
24 558
34' 016
29 533
Coconut or copra oil:
Production:
Crude
thous. of Ib
35 294
38 165
35 028
35 481
35 863
38 415
38 337
34 925
29 498
31 097
43 159
38 365
33 216
Refined
_ _
do
27 982
26 569
32 263
30 122
32 939
25 938
37 407
26 618
23 211
30 092
30 698
32 933
25 685
Consumption, factory:
45 419
45 550
Crude
do
42 633
40 8^1
42 755
48 879
57 539
46 730
50 243
43 428
35 503
47 974
49 276
Refined
do
27 433
27 072
22 369
23 010
28 659
33 455
22 544
20 608
30 309
27 788
28 561
22 382
28 770
Stocks, end of month:
44 313
45 345
49 372
52 343
52 334
Crude
do
43 216
66 970
54 809
69 403
60 680
52? 308
48 770
63 336
Refined
_
do
13 843
13 650
10 950
10 625
16 249
10 437
10 691
8 884
10 121
9*314
10 318
9 982
11 129
Imports
do ...
9,905
9,741
7,051
13, 625
17, 550
15, 868
6,709
14, 648
9,448
16 277
14 665
13 524
Cottonseed:!
Receipts at mills
thous. of short tons..
810
1,393
21
22
50
113
237
28
128
449
1,243
1,503
1 142
Consumption (crush)
do
763
718
356
624
598
712
270
470
207
532
250
684
659
Stocks at mills, end of month
do
2,865
2,773
1,332
307
556
891
1,879
2,390
229
428
1,959
1,140
2 442
Cottonseed cake and meal:J
Production
short tons
361 549 340 919 334 973 294 423 278 124 219 851 161 713 126 729 103 175 121 257 260 531 330 412 320 340
Stocks at mills, end of month§__
do
163, 022 109, 700 109 229 146 087 167 313 177 739 193 472 198 062 203 321 188 910 204 976 243 422 25l' 547
Cottonseed oil, crude:!
Production
thous. of l b _ _ 249, 924 232, 230 234, 465 207, 447 200, 632 161, 955 124, 212
94, 884
77, 097
82, 890 165,418 219, 744 215.781
Stocks, end of month
_
do
54 013
42 249
143 804 148 742 183 105 184 165 184 799 129 705
84 728
35 881
70 954 105 742 1 44 9R7
Cottonseed oil, refined:
Production!
_
_
do
221 226 209 548 183 279 188 791 197 063 178 107 151 578 106 431
78 738
82 186 108 518 161 362 1 fi1 1 Q'-i
Consumption, factory!
do
151,011 135 286 131 421 141 894 167 032 176' 259 174 462 139 760 108 802 147 206 154 430 r 140 136
qo' c c q
•3Q QQA
27 3^4
In margarine!
do
30 204
30 952
35 314
34 600
38 165
33 425
38 113
24 141
29 253
Stocks, end of month§!
mil. of Ib
1 153
1 016
1 175
1 109
1 178
71 '•}
1 155
996
1 069
954
888
817
825
Price, wholesale, drums (N. Y.)
dol. per lb_.
.211
.193
.201
.206
.203
.224
.213
.213
.224
.219
P. 202
.210
.215
r
Revised.
* Preliminary.
9 States represented are: North Carolina, South Carolina, Georgia, Florida, Alabama, Tennessee, Arkansas, Louisiana, Texas, Oklahoma. According to quarterly reports from Virginia
consumption in that State is as follows (thous. short tons): 1953—January-March, 319; April-June, 322; July-September, 79; October-December, 80; 1954—January-March,
305; April-June,
J
315; July-September, 78.
'
' p
!Revisions for 1952 will be shown later.
c?A. P. A. (available phosphoric acid).
§Includes stocks owned by the Commodity Credit Corporation (beginning May 1953 for cake and meal and beginning 1952 for refined oil).
SURVEY OF CUERENT BUSINESS
S-26
19,53
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
Jannarv 10. >5
IS 54
January
February
March
April
May
June
July
August j s^r
October Novem- December
ber
CHEMICALS AND ALLIED PRODUCTS—Continued
FATS, OILS, ETC.— Continued
Vegetable oils, oilseeds, and byproducts — Con.
Flaxseed:
Production ('crop estimate)
thous. of bu
Oil mills:
Consumption
do
Stocks, end of month
_ . do. .
Price, wholesale, No. 1 (Minneapolis).dol. per bu._
Linseed oil, raw:
Production
thous. of l b _ _
Consumption, faetorv.
_ . _ _
_ _ do
Stocks at factorv, end of montho71
. do
Price, wholesale (Minneapolis)
dol. perlb..
Soybeans:
Production (crop estimate)
thous. of bu
Consumption factory
do
Stocks end of month
do
Soybean oil:
Production:
Crude
__thous. o f l b _
Refined
do
Consumption, factory, refinedd*
do__Stocks, end of month:
Crude
do
Refinedcf
do
Price wholesale refined (N. Y.)
dol. per Ib
Margarine:
Production^
thous. of Ib
Stocks (factory and warehouse) d1, _ _ . do .
Price, wholesale, vegetable, colored, delivered
(eastern U. S.)
- - - - - dol. per Ib _
Shortening:
Production
- thous. of l b _ _
Stocks end of month
do
r l
2
36, 668
2,547
5,164
3.93
2, 946
4,467
4.02
2, 687
4,173
4.00
2,519
3,183
3.89
2, 266
2,323
3.93
1,954
1,359
3.92
2,079
596
3.99
2,248
1,179
3.88
2,596
1,782
3.63
3,545
1,946
3.47
4, 058
2,718
3.41
3, 575
4,009
3.39
2, 988
6, 085
3.37
50, 558
37, 962
535, 722
.160
57,831
36, 434
521,297
.153
52, 087
42, 280
481, 025
.148
50, 439
32,012
464, 289
.140
44, 419
36, 362
466, 099
.145
38, 784
37, 349
438, 266
.141
40, 343
35, 141
375, 137
.142
44, 293
39, 263
331, 862
.153
50, 223
41,176
231, 572
.160
69, 697
43, 111
218, 100
.160
79, 719
53, 989
224, 903
.152
68, 821
41, 254
195, 183
r
.145
58, 487
44, 051
214, 023
p. 135
20, 284
61, 710
r 1 268, 528
20, 758
58, 53!
20, 778
54, 485
18, 873
56, 948
19, 252
52, 297
17, 649
43, 209
17, 546
33. 454
15,437
24, 598
15,361
15, 321
14, 795
4,894
II, 140
9,218
21,735
37,312
29 197
50, 740
219, 304
192,662
188, 649
226, 320
180, 481
174, 446
228, 433
191, 788
174,010
208, 706
186,529
181, 253
213, 372
188, 570
183, 214
194, 526
180,911
187, 113
193, 327
186, 097
182, 924
171.614
175, 831
180, 938
173, 189
127, 217
146, 845
166, 116
171,296
169, 920
125,318
148, 712
169, 341
235, 894
198, 863
200, 722
239, 625
210, 262
204, 223
88, 437
74, 423
.196
122, 021
82, 193
.197
142, 947
99, 466
.192
138,111
95, 000
.185
140, 958 142, 208
98, 466
98, 429
. 194
.204
127, 599
103, 331
.204
114, 142
96, 919
.209
132, 221
78, 743
.209
117, 683
78, 679
.213
73, 503
53, 722
.203
91,115
54, 679
.203
96, $87
59, 988
p. 192
107,419
22, 021
107, 291
21, 779
131,959
23, 393
124, 242
26, 516
116, 538
23, 867
102, 844
25, 462
90, 334
24, 643
87, 339
22, 810
105, 344
23, 762
118, 051
19, 824
117, 979
23, 615
134, 717
19, 952
118, 586
21,219
.283
.283
.283
.273
.273
.273
.283
.283
.283
.283
.283
.270
P. 275
191,747
75, 793
139, 943
93, 926
132, 504
92, 000
155, 909
93, 443
178, 279
88, 576
180, 323
83,881
177, 934
96, 309
151,717
115, 786
112,336
98, 826
160, 463
104, 414
164, 422
96, 260
182, 323
108, 083
186, 148
106, 657
98, 539
40, 709
57, 830
92, 557
40, 217
52, 340
104, 632
39, 877
64, 755
100, 013
39, 915
60, 098
117,808
46, 792
71, 016
124, 629
46, 778
77, 851
123,071
45, 275
77, 796
131, 926
46, 531
85, 395
118,024
41, 182
76, 842
121, 584
45, 042
76, 542
114, 934
42, 925
72, 009
107, 498
43, 390
64, 108
103, 132
43, 448
59, 684
2,999
5,803
633
401
3,483
6,226
631
486
2,747
5,367
563
412
2,816
5,168
598
486
3,301
6,257
662
524
2,716
6,478
554
428
2,812
5,370
483
401
3,323
6,416
431
430
1,894
5,193
271
371
2,962
7,134
366
548
3,430
7,840
362
586
3,074
7,520
332
416
32, 348
25, 760
17, 839
39, 129
27, 693
9.627
26, 351
30, 265
25, 908
16, 955
37, 357
30, 673
9, 543
26, 099
30, 842
30, 941
17, 646
40, 636
28, 475
9, 661
24, 535
29, 987
33, 376
19,148
39,810
28, 587
11,215
25, 134
35, 421
37, 252
19, 958
46, 303
32, 796
10, 855
26, 381
31, 567
36, 889
17, 892
43, 413
31,055
11,473
25, 448
32, 805
35, 039
18, 630
42, 163
30, 152
12, 138
25, 500
29, 592
33, 250
18, 174
43, 814
31, 988
10, 344
23, 722
21, 680
28, 086
13, 371
36, 486
22, 004
9,760
22, 342
28, 824
31,808
18,073
34, 341
27, 540
9, 396
26, 581
33, 519
37, 352
19, 588
44, 389
27, 411
9,767
r
27, 773
33, 057
39, 196
21 132
48, 970
27, 943
9,702
32, 671
PAINTS, VARNISH, AND LACQUER §
Factory shipments total
Industrial sales
Trade sales
_
_
_
thous. of dol
do
do
SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:
Cellulose acetate and mixed ester plastics:
Sheets, rods, and tubes
thous. of lb_.
Molding and extrusion materials
do
Nitrocellulose, sheets, rods, and tubes
do _
Other cellulose plastics
do
Phenolic and other tar acid resins
Polystyrene
TJrea and melamine resins
Vinyl resins
Alkvd resins
Rosin modifications
Miscellaneous resins
do _
do
do
do
- do
do
do
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total t
mil. of kw.-hr
Electric utilities total
do
By fuels
do
By water power
_
__
do
Privately and publicly owned utilities
do
Other producers
do
Industrial establishments, total
. . do
By fuels
- _ _ do _ .
By water power
do
Sales to ultimate customers, total (Edison Electric
Institute)*
mil. of kw.-hr
Commercial and industrial:
Small light and power. _ __ . _ _
.._ _ do __
Large light and power
_ _ _
do
42, 374
36, 429
29, 454
6,975
31,187
5,242
45,118
39, 083
30, 404
8,679
33, 497
5,587
45, 478
39, 423
30, 524
8,899
33, 227
6,196
40, 887
35, 211
26, 647
8,564
29, 478
5,733
45, 166
38, 918
28, 998
9,921
32, 719
6,199
42, 857
36 835
26, 925
9,910
30 913
5,923
43, 529
37 429
27, 079
10, 350
31 007
6,422
44, 975
38 901
29,315
9,586
32 535
6,366
45, 969
40 077
31, 319
8, 759
33 279
6,798
47, 196
41 167
32 825
8,342
34 274
6 893
45, 529
39 547
31 743
7,805
32 978
6,569
46, 709
40 456
32, 624
7,832
33 989
6 467
46, 464
40 217
5,945
5, 665
280
6, 035
5,668
366
6, 055
5,664
391
5,676
5,291
385
6,247
5,781
467
6,021
5,573
448
6,100
5,672
427
6,074
5,681
393
5,892
5,556
335
6,030
5 709
321
5,981
5 678
303
6, 253
5,922
331
6,247
5 876
371
31,919
33, 040
34, 235
33,112
33,032
32, 885
32, 483
33, 119
33, 845
35, 045
35, 149
35, 108
5, 785
15, 668
5,927
15, 765
6,104
15, 668
5,902
15, 294
5,794
15, 734
5,802
15, 865
5,805
16, 075
6,119
16, 440
6,626
16, 167
6,795
16, 920
6,786
16, 996
6,503
17, 385
32' 101
8,116
33 889
6 3^9
399
Railways and railroads _ _ _ _
._ . _do __
445
459
439
344
354
374
401
397
359
345
346
9,719
8 163
Residential or domestic
do
8,248
9,104
9,239
8 425
8,321
8,942
8 723
8 740
10, 163
8 588
Rural (distinct rural rates) „ _ __. . _ _ _ do
945
645
584
894
1,170
818
612
606
663
1,118
756
1 236
Street and highway lighting
do
367
394
395
352
364
282
273
342
328
290
311
305
Other public authorities
_
_ . _ _ _ d o __
762
778
798
773
747
769
792
768
807
797
787
763
43
Interdepartmental
do
48
49
55
53
43
47
53
57
57
56
57
Revenue from sales to ultimate customers (Edison
Electric Institute)!
thous. of dol _.. 571, 296 589, 705 611,624 596, 954 589, 223 585, 598 579. 131 587. 473 603. 767 616. 706 620. 917 618. 364
2
r Revised.
» Preliminary.
1 Revised estimate for 1953.
December 1 estimate of 1954 crop.
cTRevisions for 1952 for linseed oil and soybean oil and for September 1951-September 1952 for margarine will be shown later.
§Revisions for 1952 appear in the September 1953 SURVEY; those for 1951 will be shown later.
^Revisions for 1952 for electric-power production are shown in the October 1953 SURVEY; those for electric-power sales and revenues, in the October and November 1953 issues.
41, 534
3.38
2 342 795
SUEVEY OF CUKKENT BUSINESS
January 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-27
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
ELECTRIC POWER AND GAS—Continued
GAS
Manufactured and mixed gas (quarterly) :cf
Customers end of quarter, total
thousands
Residential (incl house-heating)
do
Industrial and commercial
do
Sales to consumers total
mil of therms
Residential
do
Industrial and commercial
do
Revenue from sales to consumers, total thous. of dol
Residential (incl house-heating)
do
Industrial and commercial
do
Natural gas (quarterly ):<?
Customers end of quarter total
thousands
Residential (incl house-heating)
do
Industrial and commercial
do
Sales to consumers total
mil of therms
Residential (incl house-heating)
do
Industrial and commercial
do
Revenue from sales to consumers total thous. of dol
Industrial and commercial
do
6,076
5,629
445
757
466
281
108, 476
77, 476
30, 261
5,996
5, 557
436
1 123
794
320
149, 015
111,429
36, 718
5,876
5,447
427
808
502
299
109, 536
78, 500
30, 400
5,831
5 408
421
536
280
252
77, 386
52, 728
24, 239
20, 893
19 229
1,640
14, 045
4,097
8, 916
598, 256
327 363
251, 199
21, 183
19, 462
1, 696
17, 940
7,688
9,599
884, 848
564 400
304, 253
21, 220
19, 546
1,648
13, 198
3, 755
8,873
575, 082
314 607
246, 605
21 344
19 707
1 611
11,237
1 577
8,989
410 366
166 266
328 550
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
r 5, 654
Production
thous of bbl
5,644
Tax-paid withdrawals
do
9,830
Stocks, end of month
_ _
_ __ _ do
Distilled spirits:
'
19,
766
Production
thous of tax gal
Consumption, apparent, for beverage purposes
thous. of wine gaL_ ' 19, 465
»• 16,617
Tax-paid withdrawals
thous of tax gal
* 857, 684
Stocks, end of month
do
2,743
Imports
thous. of proof gal._
Whisky:
r
9, 428
Production
thous of tax gal
Tax-paid withdrawals
do
'9,018
Stocks end of month
do
' 715, 537
2,524
Imports
thous of proof gal
Rectified spirits and wines, production, total § !
r
10,
673
thous of proof gal
r
Whisky
do
9, 449
Wines and distilling materials:
Sparkling wines:
76
Production t - - thous. of wine gal
Tax-paid withdrawals!
do
197
Stocks, end of month!
'
do
1, 186
Imports,
._ _
__
do
88
Still wines:
Production! _
do
20, 755
Tax-paid withdrawals! _ _
do
12, 440
Stocks, end of monthj
do
214, 956
Imports
do
699
Distilling materials produced at wineries!
do
35, 234
DAIRY PRODUCTS
Butter, creamery:
Production (factory)! _
_ thous. of Ib
90, 765
Stocks, cold storage, end of month
do
290, 598
Price, wholesale, 92-score (New York)__dol. per lb._
.676
Cheese:
Pro duction (factory) , total t
thous . of Ib
82, 390
American, whole milkt__
do
56, 230
Stocks, cold storage, end of month, total
do
432, 325
American, whole milk
do
400, 983
Imports
_ _
do
7,186
Price, wholesale, American, single daisies (Chicago)
dol. per l h _ .427
'Condensed and evaporated milk:
Production, case goods:!
Condensed (sweetened)
thous of Ib
3,175
Evaporated (unsweetened)
do
152, 500
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened)
thous. of lb_.
6,047
Evaporated (unsweetened)
do
339, 808
Exports:
Condensed (sweetened)
do
128
Evaporated (unsweetened)
do
14, 427
Price, wholesale, U. S. average:
Evaporated (unsweetened)
dol. per case
5.85
Fluid milk:
Production! _
mil. of Ib
8, 359
Utilization in mfd. dairy products
do
3,062
Price, dealers', standard grade
dol. per 100 lb..
5.23
Dry milk:
Production:!
Dry whole milk..
thous. of Ib
8,420
Nonfat dry milk solids (human food)
do
68, 290
Stocks, manufacturers', end of month:
Dry whole milk
do
11,316
Nonfat dry milk solids (human food)
do
67, 893
Exports:
Dry whole milk
do
3,004
Nonfat dry milk solids (human food)
do
19, 093
Price, wholesale, nonfat dry milk solids (human
food), U. S. average
dol. per Ib
.152
r
5, 954
6, 176
9,223
5,797
5,162
9,498
5,909
5,434
9, 605
7,918
6,607
10, 406
7,949
7,011
10, 680
8,556
7,239
11, 541
9,547
8,646
11,846
9,302
8,886
11, 658
8,370
8,112
11, 391
6,986
7,138
10, 779
6,176
6, 475
10, 074
5,638
6,642
9, 506
15, 930
13, 120
14, 405
16, 387
14, 636
13, 876
13, 905
9,523
8,747
15, 787
26, 958
21, 586
22, 805
10, 479
859, 297
2,207
12, 528
8,650
861,381
1,336
12, 671
10, 156
862, 917
1,456
15, 73f
12, 718
864, 231
1, 529
14, 519
12, 029
864, 016
1,694
15, 365
11, 853
864, 004
1,520
14, 975
12, 143
864, 343
1,761
13, 780
9,604
863, 553
1,389
13, 753
9,805
861, 034
1,496
15,803
13, 487
854, 556
2,006
17, 792
15, 722
848, 142
2,344
15,883
844, 415
9,270
5,982
716, 439
1,990
8,301
4,878
717, 441
1,218
9,020
5,315
718,413
1,328
10, 029
6,272
718, 516
1,395
9,862
5,998
718, 726
1,551
9,579
5,748
719, 567
1,388
9,139
5,732
720, 713
1,616
5,741
4,129
721, 020
1,288
5,057
4,898
719, 114
1,316
6, 355
7,292
715, 191
1,834
9,263
8,610
712,017
2,123
11,578
8,907
710,071
6,885
5, 850
5,533
4,634
5,745
4 834
7,400
6,349
6,605
5,823
6,851
5, 996
7,091
6,126
5,457
4,825
5,304
4,506
7,852
6,957
10, 036
8,910
9 821
8,868
81
198
1,052
121
99
84
1, 060
27
233
69
1,217
22
147
81
1,272
28
109
74
1,297
44
223
95
1,418
44
186
112
1,478
41
59
67
1,458
29
117
97
1,449
35
40
159
1,335
53
85
158
1,259
79
4, 148
12, 966
202, 631
707
4,971
1,398
9,120
193, 413
313
1,670
1,286
10, 038
179, 769
322
1,556
1,477
12, 353
170, 754
404
2,128
1,403
10, 443
159, 755
582
486
1,112
9 841
150, 766
494
593
10, 469
140, 525
459
5,501
936
9,072
130, 885
332
1,590
3,398
9,873
123, 334
364
9,020
26, 985
11, 899
139, 287
424
61, 975
65,505
12, 299
195, 813
544
119, 756
108, 240
281, 702
.666
118,465
294, 047
.659
115,910
304, 233
.658
142, 295
346, 542
.651
141, 305
375, 584
.583
163, 815
421, 997
.577
159, 755
468, 453
.575
129, 615
503, 921
.578
108, 990
92, 555
87, 600
508, 476 '488,618 ' 463, 183
.579
.595
.600
86, 445
423, 347
.601
377, 638
.608
91,175
63, 225
432, 008
401, 168
5,860
98, 735
72, 135
427, 464
397, 990
2,233
97, 190
70, 810
424, 657
396, 344
3,162
115, 555
86, 575
450, 299
426, 049
4,163
126, 930
97, 400
487, 209
460, 566
4,851
156, 480
123, 090
521, 763
494, 770
4,236
153,645
122, 345
567, 541
538, 051
4,510
126, 885
99, 425
607, 993
572, 290
2,562
111,800
85, 770
613, 238
578, 765
2,934
83, 285
57, 695
579, 933
549,611
546. 251
517, 264
.415
.403
.393
.383
.375
.370
.369
.371
.372
.376
.379
.378
.374
1, 800
155, 700
2,350
163, 600
1,875
156, 900
2, 150
194, 900
2,480
243, 100
1,675
316, 000
1,775
310, 500
1,975
266, 000
2,500
239, 500
1,930
188, 000
2,175
158, 750
1,560
151, 250
4,897
262, 913
4,753
192, 760
4,784
127, 681
4,997
102, 638
5,353
127, 497
5,242
231,456
5,010
320, 487
4,723
381, 177
5,139
410, 379
4,762
410, 168
5, 113
355, 473
4,934
290, 624
747
6, 119
46
8,215
62
13, 228
56
11, 397
8,901
96
12, 312
22
14, 773
89
13, 120
27
10, 488
164
11,923
267
10, 526
m
93, 405
87, 200
68, 775
61, 540
613,146 »•r 595, 953
580, 089 564, 533
4,972
4,558
5.82
5.76
5.73
5.69
5.44
5. 39
5.45
5.60
5.54
5.55
5.56
5.56
8, 907
3,505
5.18
9,172
3,796
5.11
8,980
3,711
5.03
10, 713
4,514
4.96
11,345
4,746
4.76
13, 178
5,658
4.62
12, 663
5,534
4.58
11,625
4,542
4,72
10, 494
3, 904
4, 82
9,391
3,272
4.96
9,002
3,044
5.01
8,400
2, 960
5.03
7,970
94, 250
6,360
103, 350
6,165
102, 300
6,175
131, 650
10, 525
138, 350
10, 925
164, 750
10,560
15$. 000'
8,440
110,950
7,350
83f250
6,800
65,775
6,640
66,250
6,100
65, 350
10, 220
74, 094
9,602
81, 056
8,510
88, 377
7,629
85, 449
8,692
83, 435
10, 397
105, 792
11, .956111, 482:
12,,&10
92r 152'
10,781
71, 782
9,624
54,, 329
8,415
44,413
8, 615
43,012
4,067
19, 237
1, 584
•• 18, 685
2,671
15, 802
2,826
20, 107
4,906
4,655
5,729
16, 896
4, 322!
31, 787:
4,, 286
8,, 080
4,178;
4,. 782-
3,, 724
110,445
2,821
5, 354
.153
.152
.151
.149
.146
.143
.142
. 145'
..151
. 153
,154
8,833
5.03
.154
Revised.
cfRevisions for 1952 appear in the October 1953 SURVEY; those for the 1st and 2d quarters of 1953 are available upon request
§Data beginnim-g July 1953 exclude production of wines and vermouth; for July 1952-June 1953 such production totaled 88,000 gallons^Revisions for
July 1952-March 1953 for rectified spirits, etc., and wines and distilling materials appear in the June 1954 SURVEY; those for January-December 1952 foT fluM milk producC
f b Tt
at <1 lU^' ^Visiogs1prio.r^° December 1952 are available upon request as follows: Beginnng 1951 for cheese, condensed-milk,, and nonfat dry milk solids;, beginning 1952
SURVEY OF CURRENT BUSINESS
S-28
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 1955
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
FOODSTUFFS AND TOBACCO—Continued
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
Shipments carlot
Stocks, cold storage, end of month
thous. of bu.
no of carloads
thous. of bu._
Citrus fruits, carlct shipments
no. of carloads.
Frozen fruits, juices, and vegetables:
Stocks, cold storage, end of month:
Fruits
thous. of Ib
Fruit juices
do
Vegetables
.
do.
Potatoes, white:
Production (crop estimate)
thous of bu
Shipments, carlot
no. of carloads..
Price, wholesale, U. S. No. 1 (New York)
dol per 100 Ib
2,567
25, 331
i 93, 073
2, 796
19, 894
2 357
14, 943
2 119
10, 679
3 061
6,095
2 394
3,267
1 899
1,302
848
6,851
12, 595
10,145
9,270
10, 655
11,202
11,411
9,121
380, 674
190, 703
722, 108
356, 338
212,105
704, 585
328 040
265, 552
630. 2C1
293, 585
342, 041
562, 581
253, 404
352, 552
510,944
210,331
408, 680
469, 050
199, 389
503, 172
444, 834
14, 758
380, 075
15, 453
20, 402
18, 870
23, 925
19, 630
3.313
3.050
2 981
2.981
3.081
31, C72
25, 483
19, 859
24, 986
i 242, 544
8,235
8,860
8, 613
1
2 103, 772
' 2 755 2 857
24, 887
30, 995
197
806
245
6,959
6,591
4,736
4,321
221, 658
500, 819
443, 724
336 630
458, 007
492, 594
374 543
411 550
602, 309
20, 528
21, 046
12, 562
11,893
14, 425
3.500
3 981
3.375
4 054
4 835
3 089
23, 477
30, 062
32, 625
27,764
31, 276
24 310
21, 841
29, 462
12, 386
8, 566
7,594
6,531
7,685
8,238
28, 856
17, 168
14, 376
15, 140
2 370, 126
10,070
8,922
74, 913
' 26, 946
27,517
1.420
1.2JO
440
490
162
r
3 331
30, 896
4,905
'7,221
11,408
399 606 rr 413 657
338, 537 r 294, 319
698, 084 709, 915
399, 410
253, 837
689, 266
374 187
249, 118
636, 425
15, 618
r
2
355, 099
' 12, 543 13, 840
3 400 i>3 664
GRAIN AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal
thous of bu
Barley:
Production (crop estimate)
Receipts, principal markets
Stocks, domestic, end of month:
Commercial
.
_
On farms
Exports including malt
Prices, wholesale (Minneapolis):
No 2 malting
No. 3, straight
Corn:
Production (crop estimate)
Orindings wet process
Receipts, principal markets
Stocks, domestic, end of month:
Commercial
_
On farms
do
do
. . . do. _
do
do
_
12, 222
12, 659
107, 770
2,175
422
7,119
6,500
20,050
872
5,076
1 809
23, 495
225, 104
2,791
24, 258
846
9,121
3 34, 945
2,702
11, 932
526
1.513
1. 436
1.520
1.474
1.509
1.441
1.483
1.374
1.505
1.396
1.518
1.456
1.490
1.375
1.456
1.323
1 397
1.290
1.429
1.328
1.454
1.378
1.456
'1.364
mil of bu
thous of bu
. d o
10, 515
48, 836
i 3, 192
10, 240
18, 424
10,021
21,389
10, 232
25, 032
11,466
24, 741
11,127
22, 798
10, 263
25, 835
10, 326
25, 151
10 041
24, 105
10 609
29, 369
10 918
21, 352
12, 163
21,371
12, 102
53, 835
38, 221
35, 338
16, 984
14, 831
8,221
7 101
5 096
6 912
18,052
358. 0
3 629
20, 560
8,045
15, 945
986.1
5,098
12, 866
6 860
33, 793
1,468.8
7,712
21, 704
13, 146
43, 106
2, 138. 5
10, 808
1.448
1.439
1. 563
1.530
1.553
1.521
1.553
1.495
1.560
1.502
1.571
1.504
1.585
1.532
1.610
1.577
1.614
1.581
1.652
1.610
1.639
1.601
1.540
1.522
1.481
1.462
1. 522
1.450
6,187
1 1, 209
8, 131
4,542
4,660
4,886
4,602
5, 818
7,241
16, 842
25, 750
10, 638
7,231
7,840
2 1, 500
10, 510
18, 453
18, 295
778, 541
15, 066
13, 406
4,600
24,900
" 19, 992
20, 055
363
.794
.814
227
118
26, 377
1, 191, 309
26, 278
192
4,872
3 204, 050
11, 729
186
8,648
450, 335
4,750
462
.788
.781
.792
.770
.763
.708
.758
.786
.851
.839
149, 459
125, 900
135, 181
104, 782
118,669
78, 605
84, 516
66, 150
61, 873
48, 757
52, 410
36, 159
36, 656
29, 573
11,471
28, 807
10, 373
7,676
145, 678
36, 349
93, 881
29, 233
85, 457
33, 125
13, 287
117, 630
do
mil of bu
45, 703
310
.742
Rice:
Production (crop estimate)
thous of baas 9
California:
Receipts, domestic, rough
thous. of l b _ _ 154, 646
122, 947
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
72, 152
of month
thous. of l b _ _
Southern States (Ark., La., Term. , Tex.):
r
492, 100
Receipts rough at mills
thous of Ib
250, 994
Shipments from mills milled rice
do
Stocks, domestic, rough and cleaned (cleaned
«•
1,
094. 6
basis) end of month
mil of Ib
245, 765
Exports
thous of Ib
Rye:
Production (crop estimate)
thous of bu
Receipts, principal markets
do
Stocks, commercial, domestic, end of month___do
Price, wholesale, No. 2 (Minneapolis) -_.dol. per bu_.
Wheat:
Production (crop estimate) total
mil of bu
Spring wheat
do
W^ inter wheat
do
Receipts, principal markets
. .
thous. of bu
Disappearance
do
Stocks, end of month:
Canada (Canadian wheat) _
_ __do
United States domestic totald71
mil of bu
Commercial
thous. of bu
Interior mills, elevators, and warehouses
thous of bu
Merchant mills
do
On farms
do
129, 132
79, 990
do
do
1
339, 156
272
.721
3
345
65, 802
55, 934
59, 246
54, 741
47, 454
43, 304
35, 968
171, 225
243, 252
133, 848
169, 918
84, 161
161, 955
36, 832
100, 069
37, 382
124, 217
51, 924
102, 436
48, 217
118, 490
1, 000. 7
207, 046
859.7
189, 258
770.2
200, 503
.093
654.6
162, 158
.093
573.7
88, 483
390.6
99, 510
327.3
47, 048
.085
272.0
42, 229
921
1,684
8,445
1.061
1,006
11, 708
1.250
18, 163
1,713
11, 028
1.287
11 169. 5
288 9
i 881 6
18, 403
209 412
377, 855
1 316.2
316, 765
13, 262
9,679
30, 975
' 50, 873 60,218
4 977
348
2 58, 853
094
292
11,002
1.313
433
10, 309
1.249
231
9,811
1.151
090
667
8,953
1.116
090
821.8
112,973
1,071.8
98, 694
1,049.6
083
v 094
1,310
12, 115
1.275
853
12, 047
1.428
1,042
12, 161
1.370
1,108
11,662
1.321
10, 910
1.300
22, 438
2 969. 8
2 179. 0
2 790. 7
25, 923
075
60. 332
228, 884
365, 638
335, 422
1,682 0
422, 772
368, 888
366, 412
339, 201
303, 727
354, 795
1,111.6
298, 934
348, 139
311,573
414, 580
3 331, 619
3 63r 829
3 99, 810
379, 630
104 778
297, 873
20, 768
17, 249
074
349, 007 379, 215
3 902. 7
291, 191 3 296, 715 394, 609
26, 953
14, 877
11, 677
361.3
74, 435
47, 508
180, 273
19, 660
16, 327
13, 824
96, 857
173, 728
121, 645
54, 867
22, 028
205, 514
12, 397
9,613
66, 674
721, 412
197, 656
105, 576
20, 883
295, 060
086
11, 861
447 848 1, 113 665
172, 842 216, 034
23, 688
8,782
1.101
20, 715
424, 292
123 467
424 057
15, 441
12, 112
217
86, 161
1
327, 168
209
180, 844
204, 667
094
4,877
6,008
1.249
31, 822
2 2, ^65
i 52, 607
094
24, 535
21, 524
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
2.669
2.620
2.602
2.577
2.576
2.601
2.623
dol. per bu._
2.375
2.370
2.447
2.417
2.379
2.393
2.337
No. 2, hard winter (Kansas City)
do
2.105
2.194
2.051
2.210
2.226
2.327
2.015
No. 2, red winter (St. Louis)
do
2.544
2.589
2.545
2.537
2.570
2.596
2.578
Weighted avg.. 6 markets, all grades
do
T
3
Revised.
»
Preliminary.
1
Revised
estimate
for
1953.
December
1
estimate
of
1954
crop.
3
Old crop only; new grain not reported until beginning of new crop year (July for barley, oats, and wheat; October for
9 Bags of 100 Ib.; prior to the October 1953 SURVEY, data were shown in thous. of bu. of 45 Ib.
cfThe total includes wheat owned by the Commodity Credit Corporation and stored off farms in its own steel and wooden
3,214
1.515
1.438
..
flour
10, 277
416
dol. per bu
do
Prices, wholesale:
No 3 yellow (Chicago)
dol per bu
Weighted average, 5 markets, all grades
do
Oats:
Production (crop estimate)
mil of bu
Receipts principal markets
thous of bu
Stocks, domestic, end of month:
Commercial
__'.. __
do
On farms
do
Exports including oatmeal
do
Price, wholesale, No. 3, white (Chicago) dol. per bu._
Exports total including
Wheat only
11, 085
951
29, 456
921
329, 515 ' 337, 675 354, 878
413, 494 •• 387, 159
374, 369
537, 106
159 075
436, 769
19, 755
16, 752
20, 888
17, 370
15,317
12, 325
15, 075
12, 074
20, 924
17, 082
2.642
2.153
1.852
2.293
2.643
2.324
1.967
2.358
2.578
2.352
2.101
2.578
2.695
2.389
2.162
2.659
2.747
2.411
2.147
2.678
2.708
2.439
2.266
2.672
2.758
2.465
2.280
2. 64C
corn).
bins; such data are not included in the breakdown of stocks.
SURVEY OF CURRENT BUSINESS
January 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-29
1954
January
February
March
April
May
DecemAugust SeptemOctober November
ber
ber
July
June
FOODSTUFFS AND TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Continued
Wheat flour:
Production:
Flour
thous. of sacks (100 Ib.)
Operations, percent of capacity
Offal
short tons
Grindngs of wheat
thous. of bu
Stocks held by mills, end of quarter
thous. of sacks (100 Ib.)
Exports..
_- _ do
Prices, wholesale:
Spring, short patents (Minneapolis)
dol. per sack (100 Ib.)
Winter, hard, short patents (Kansas City) do
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
_ thous. of animals. _
Cattle
do
Receipts, principal markets
_
do__ _
Shipments, feeder, to 9 corn-belt States
do
Prices, wholesale:
Beef steers (Chicago)
dol per 100 Ib
Steers, stocker and feeder (Kansas City) _.do
Calves, vealers (Chicago)
do
Hogs:
Slaughter (federally inspected)
thous. of animals-Receipts, principal markets
do
Prices:
Wholesale, average, all grades (Chicago)
dol. per 100 lb_.
Hog-corn price ratio
bu. of corn equal in value to 100 Ib. of live hog..
Sheep and lambs:
Slaughter (federally inspected)
thous. of animals. _
Receipts principal markets
do
Shipments, feeder, to 9 corn-belt States
do
Prices, wholesale:
Lambs, average (Chicago)
dol. per 100 Ib
Lambs, feeder, good and choice (Omaha)
do
MEATS
Total meats (including lard) :
Production (inspected slaughter)
mil of Ib
Stocks (excluding lard), cold storage, end of month
mil. o f l b _ _
Exports
do
Beef and veal:
Production (inspected slaughter)
thous of Ib
Stocks, cold storage, end of month
do
Exports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs) (New York)
dol. per Ib-.
Lamb and mutton:
Production (inspected slaughter)
thous of Ib
Stocks, cold storage, end of month
do
Pork, including lard, production (inspected slaughter)
thous of Ib
Pork, excluding lard:
Production (inspected slaughter)
do
Stocks, cold storage, end of month _.
do
Exports
do
Prices, wholesale:
Hams smoked composite
dol per Ib
Fresh loins, 8-12 Ib. average (New York)
do
Lard:
Production (inspected slaughter) .
thous. of Ib
Stocks dry and cold storage, end of month f do
Exports
do
Price, wholesale, refined (Chicago)
dol. per Ib
17,972
83.9
362, 741
41,836
18, 355
77.7
366, 297
42, 571
18, 962
88.6
380, 153
43, 971
17, 361
81.7
344, 611
40, 222
18,871
77.0
376, 594
43, 729
17,217
73.5
339, 250
39, 874
16, 685
74.9
327, 804
38, 582
18, 041
77.4
363, 478
41 913
18, 022
77.2
361, 956
41, 902
18, 786
80.4
380, 751
43 752
19, 733
88.2
397, 086
45, 846
1,429
4,476
1,538
1,195
1,074
4,470
1,373
1,510
1,292
4,046
•1,289
1,510
1,284
5,232
1,288
6.500
6.120
6.355
5.935
658
1,609
2,997
643
1,653
2,342
1,541
2,245
1,302
1,844
1,417
2,040
1,439
2,165
206
184
1,511
2,320
24.83
17.56
22.00
23.65
17.63
22.50
23.93
19.83
27.00
22.96
20.02
28.00
22.88
19.81
26.00
23.77
20.62
26.00
5,540
2,950
5,194
2,721
4,712
2,503
3,883
2,098
4,554
2,450
634
286
6.335
6.060
546
6.390
6.095
518
6.355
6.055
660
220
6.765
6.145
6.960
6.050
6.685
5.995
6.830
6.175
622
130
640
1,622
2,296
174
649
1,570
2,309
1,635
2,736
23.54
20.44
23.00
23.49
18.20
21.00
23.47
16.12
20.00
3,853
2,068
3,380
1,909
3,453
1,991
6.400
6.035
598
217
6.510
6.135
561
181
r
r
19, 688 19 216
88.0
85.9
397, 719 387 185
44 656
45 805
1,649
r
6. 925
6.295
p 6. 935
P 6 240
738
1,616
2,993
939
694
1,602
2,980
815
1,583
314
706
1,638
2,878
540
23.71
17.88
21.75
25.00
18.10
22.00
25 42
18.84
22.50
26 11
19.63
v 20. 00
26 21
19.23
3,325
1,896
3,852
2,251
4,743
2,496
5,178
2,746
5,841
3 308
6,119
16.97
639
23.69
24.82
25.45
25.63
26.75
24.79
21.43
19.75
20.50
19.51
18.66
18.39
15.3
' 16.3
17.3
17.7
17.2
18.3
17.5
14.6
14.1
14.1
12.9
12.7
13.6
12.2
1,159
1,412
1,227
1,182
1,241
1,190
1,090
1,032
1,096
1,203
1,045
1,133
1,200
1,189
1,209
1,137
1,290
1,806
197
90
100
1,207
1,391
1, 291
1 841
1,160
1 323
1,167
175
1,149
1,128
19.25
18.22
19.25
18.00
20.62
19.14
21.25
20.26
24.25
21.44
27.75
22.31
25.88
0)
24.00
0)
21.25
0)
19.50
17.67
19.50
17.46
19.38
17.50
19.75
17.70
19.25
18.05
1,941
1,952
1,836
1,517
1,772
1,609
1,563
1,683
1,641
1,673
1,796
1,897
2 026
593
59
717
60
762
45
755
57
732
33
706
59
653
64
605
47
530
48
467
43
M43
••41
'478
65
638
806
897, 620
215, 353
13, 497
939, 793
269, 668
3,848
895, 446
247, 894
1,067
761, 153
219, 002
5,848
886, 182
186, 362
828, 596
160, 002
4,464
838, 154
138, 622
1,250
905, 294
127, 141
1,088
920, 803
122, 333
2,198
919, 606
126, 183
1,650
917, 746 924, 790 901, 498
121, 290 ' 137, 718 177, 078
3,079
2,346
209, 944
20.80
r
292
185
188
840
202
147
248
631
539
344
.431
.424
.431
.396
.392
.398
.408
.405
.417
.414
.438
.443
.450
.455
51 566
11,151
57 079
12, 232
59 522
11,460
53 274
10, 808
55, 672
9,445
52,190
8,897
48, 262
8,135
51, 950
9,450
52, 385
8,448
53,001
7,867
55, 324
7,359
56 119
' 7, 741
52 466
8,518
9,819
991, 497
954, 712
881, 313 . 702,169
830, 303
727, 839
676, 709
725, 640
667, 645
700, 693
822, 728
743, 793
266, 170
4,419
710, 666
326, 812
7,708
658, 662
393, 307
5,136
526, 049
413, 507
4,407
628, 446
418, 283
3,832
547, 809
420, 917
4,200
505, 239
384, 643
3,658
538, 092
346, 024
4,016
491, 002
282, 873
5,422
526, 732
228, 738
3,779
622, 033 681, 669
215, 057 ' 233, 612
2,719
4,995
.558
.452
.657
.509
.673
.550
.638
.541
.660
.540
.671
.574
.669
.626
.646
.587
.611
.598
.630
.534
.553
.513
"• .521
.450
p . 546
.459
180, 413
51, 462
32, 857
.193
178, 155
74, 322
38, 187
.205
162, 245
75, 525
33, 607
.208
128, 867
72, 920
39, 558
.213
147, 106
78, 945
23, 359
.208
131, 394
74, 024
42, 042
.233
125, 254
69, 278
50, 908
.205
137, 369
65, 689
33, 365
.190
129, 394
58, 065
29,808
.205
127, 058
47, 818
29, 047
.213
146, 772
50,460
25, 344
.208
171, 156
51, 349
46, 022
'.185
198, 822
80, 001
79, 448
287, 152
65, 890
275, 888
37, 325
266, 626
35, 734
241, 692
41, 189
217, 456
39, 205
184, 743
43, 216
167, 499
47, 393
151, 147
42, 779
141, 651
47, 532
146, 651
55, 555
64, 612
188, 417 ' 275, 192
73,380
291, 504
915, 733 1 071 719
799, 131
340, 874
454, 498
.412
p. 190
POULTRY AND EGGS
Poultry:
Receipts, 5 markets
thous. of lb-_
Stocks, cold storage, end of month
do _
Price, wholesale, live fowls, heavy type, No. 1
(Chicago)
dol per Ib
Eggs:
Production farm
millions
Dried egg production
thous. of Ib
Stocks, cold storage, end of month:
Shell
thous. of cases
Frozen
_
_ _
thous. of Ib
Price, wholesale, extras, large (Chicago)
dol. per doz_.
64,744
272, 618
.230
.250
.250
280
.300
.220
.240
.190
.165
.185
.175
.160
P. 180
4,784
1,310
5,239
1,242
5,448
1,698
5,476
1,865
6,605
3,140
6,271
3,104
6,071
3,178
5,251
2,388
4,766
1,869
4,545
1,215
4,604
953
4,994
792
5,057
900
728
833
'636
138, 784 ' 117, 958
325
94,658
74, 310
.409
.381
.317
101, 740
115, 156
443
89
75
61, 014
42, 030
38, 244
135
41,639
91, 940
136, 488
1,348
166, 983
1,639
186, 189
1,435
180, 777
1,031
160, 797
.543
.479
.472
.450
.403
.380
.355
.351
.397
.398
.427
110, 000
97,000
85, 262
79, 619
83, 931
74,768
59,390
61,415
48, 719
65, 541
103, 120
8,026
.449
30, 242
.468
43, 394
.542
27, 081
.535
11,905
.578
14, 265
.619
11, 991
.639
22, 215
.648
17, 485
.689
12,488
.678
14, 430
.537
11, 861
.471
1.814
1,164
1,725
1,055
1,219
962
539
829
1,409
1,060
485
637
454
183
694
468
146
832
1,918
1,940
1,922
1,098
1,256
599
266
941
979
522
119
820
878
932
493
765
660
818
363
695
871
137
5,494
183
MISCELLANEOUS FOOD PRODUCTS
Confectionery manufacturers' salest
thous. of dol
Cocoa or cacao beans:
Imports (incl shells)
long tons
Prices wholesale, Accra (New York)
dol. per Ib
Coffee:
Clearances from Brazil total
thous of bags
To United States
do
Visible ^upply United States
do
Imports
do
Price, wholesale, Santos, No. 4 (New York)
dol. per lb._
778
1,848
723
2,489
662
1,009
2,275
795
735
r
*.517
1,629
1,170
793
.855
.858
.725
.613
.755
883
.870
.870
.718
.760
.585
.700
'.720
.685
l
Revised.
» Preliminary.
No quotation.
fRevised series. Compiled by the U. S. Department of Commerce, Bureau of the Census, representing factory and warehouse stocks of rendered and refined lard; data prior to June 1952
will be shown later.
JRevisions for 1952 and January-May 1953 are shown in the August 1954 SURVEY.
T
SURVEY OF CURKENT BUSINESS
S-30
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 1955
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS— Con.
Fish:
Landings, fresh fish, 5 ports
thous oflb
Stocks, cold storage, end of month
do
Sugar:
Cuban stocks, raw, end of month
thous. of Spanish tons__
United States:
Deliveries and supply (raw basis) :
Production and receipts:
Production
short tons
Entries from off-shore
do
Hawaii and Puerto Rico
do
Deliveries, total
do
Dor domestic consumption _ __
do
For export
do
Stocks, raw and refined, end of month
thous. of short tons__
Exports
short tons
Imports ^
Raw sugar, total
do
From Cuba
do
From Philippine Islands
do
Refined sugar, total- __
do
From Cuba
do
Prices (New York):
Raw, wholesale
. „ dol. perlb
Refined:
Retail 9
dol per 5 Ib
Wholesale
dol. per Ib
Tea imports
thous of Ib
TOBACCO
Leaf.'
Production (crop estimate)
mil of Ib
Stocks, dealers' and manufacturers', end of quarter total
mil of Ib
Domestic:
Cigar leaf
do
Air-cured, fire-cured, flue-cured, and miscellaneous domestic
mil of Ib
Foreign grown:
Cigar leaf
do
Cigarette tobacco
-_
do
Exports, including scrap and stems
thous oflb
Imports including scrap and stems
do
Manufactured products:
Production manufactured tobacco total
do
Chewing plug, and twist
do
Smoking
do
Snuff
do
Consumption (withdrawals) :
Cigarettes (small):
Tax-free
millions
Tax-paid
do
Cigars (large), tax-paid §
thousands
Manufactured tobacco and snuff, tax-paid §
thous. of Ib
Exports, cigarettes
millions
Price, wholesale, cigarettes, manufacturer to wholesaler and jobber, f. o. b. destination
dol per thous
34, 247
179, 370
23, 951
176, 249
17, 455
154, 570
28, 111
138, 468
41 265
112, 288
41 524
110, 328
59 452
118, 806
75 834
140 009
84 605
163, 697
73 274
190, 538
'2,027
1,737
1,607
2,437
3,316
4,341
4,316
3,991
3,712
3,262
2, 812
812, 373
254, 321
97, 620
580, 278
574, 693
5,585
473, 347
117, 126
61, 688
801, 571
800, 569
1,002
137, 932
320, 741
52, 886
506, 430
504, 421
2,009
57, 480
507, 709
108, 657
561, 418
559, 043
2,375
27, 365
522, 494
147, 957
823 814
822, 844
51,311
762, 870
287, 257
574, 426
569, 756
4,670
60, 519
617, 552
181, 301
659 133
655, 707
3 426
56, 392
44, 495
598, 368 544, 041
190, 496 159,787
808 299 772 780
807, 168 770, 000
2 780
1 131
96, 464
759, 214
228, 846
792, 402
792, 000
131, 000
471, 248
200, 094
792 383
788, 000
4,383
1,691
3,897
1,693
596
1,668
1,612
631
745
1,479
276
1,625
1,039
1,625
1,484
458
439
1,108
291
1,239
929
474
140 910
86, 401
45 512
4 220
132
157, 648
118, 711
38 640
301
275, 725
238, 950
36 267
20 151
13, 694
305 487
236, 902
66 165
35 595
29 570
363 956
282, 575
81 336
54 938
50, 062
428 730
292, 522
136 203
51 375
45 753
331 129
227, 304
103 825
57 212
52 728
023
573
623
048
110
285 305
165, 368
115 160
64 165
60 609
328 689
231, 782
91 932
40 555
39 455
282 688
160, 492
86 036
2 585
540
640
.061
.060
.060
.061
.063
.062
.061
.061
.062
.061
.060
'.059
f 062
.500
.085
6,851
.497
.085
8,745
.497
.085
10 004
.498
.085
11, 580
.499
.086
10, 783
.503
.086
18 079
.502
.086
13, 984
.502
.086
9 828
.502
.086
5 786
.500
.086
5,765
.502
.085
7,114
.498
.085
6,599
.498
p. 085
970
370
201
162
60
50
402
439
47, 478
48, 307
202, 228 »• 204, 722
2,637
601, 213
426, 594
283, 327
r
642 628
r
642, 000
206, 437
628
202, 728
134, 861
634 814
633, 207
1 607
«• 1, 261
1,782
351
155
120
35
2
555
246
309
492
2
i 2, 055
4,540
«• 4, 515
4,240
4 084
319
370
353
319
' 3, 997
' 3, 969
3,546
3,755
18
183
17
149
18
181
53, 148 ' 69, 579
7,582
8 550
30, 390
8,125
19, 019
7,875
21, 715
9,133
27, 560
9,528
28, 593
8,701
26, 787
9 188
28, 964
8 280
29, 262
10, 300
45, 852
9,848
98, 549
8 855
16, 170
6,808
6,307
3,055
14, 735
5,978
5,373
3,384
15, 502
6,796
5,549
3,157
15, 561
6,389
6,078
3,093
18, 476
6,865
7,900
3,711
17, 369
6,723
7,356
3,290
17, 243
6,906
7,030
3,307
17 883
7,435
6,953
3,495
14, 557
6,411
5,962
2,184
18, 363
7,196
7,612
3,555
18, 866
7,105
8,361
3,399
18, 252
7,021
8,214
3,017
16, 983
6,857
6,933
3,193
3,535
30, 338
547, 704
3,534
29, 141
443, 532
2,700
28, 858
401, 693
2,638
26, 676
406, 560
2,865
32, 295
476, 514
2,485
30, 499
445, 991
2,487
31, 863
483, 650
2,798
34, 998
510, 197
2,759
28, 959
434, 978
2,501
34, 568
526, 817
3,395
31, 964
503, 475
2,472
31, 593
501, 498
3,298
29, 699
573, 184
15, 825
1,241
15, 213
1,416
14, 997
1,274
14, 688
1,183
18, 079
1,252
17, 402
1,415
16, 944
1,339
17, 643
1,310
14, 275
1,273
17, 902
1,006
18, 487
1,200
17, 219
1,342
3.938
3.938
3.938
3.938
3.938
3.938
3.938
3.938
3,938
3.938
3.938
3. 938
17
167
3.398
LEATHER AND PRODUCTS
HIDES AND SKINS
Imports total hides and skins
thous of Ib
Calf and kip skins
thous of pieces
Cattle hides
do
Goat and kid skins
do
Sheep and lamb skins
do
Prices, wholesale (Chicago):
Calfskins packer heavy 9^/15 Ib
dol perlb
Hides, steer, heavy, native, over 53 Ib
do
LEATHER
Production:
Calf and kip
thous of skins
Cattle hide
thous of hides
Goat and kid
thous of skins
Sheep and lamb
do
Exports:
Sole leather:
Bends backs, and sides
thous. of Ib
Offal, including belting offal __ _
do
Upper leather
thous of sq ft
Prices, wholesale:
Sole bends, light, f. o. b. tannery
dol. per Ib
Upper, chrome calf, B and C grades, f. o. b. tannerv
dol. per sq. ft_.
9 454
47
23
2,364
1 230
8.770
•81
36
2,034
1 033
8 232
123
20
2,051
1 087
7 436
59
112
1,550
898
9 372
54
50
1,839
2 158
13 492
26
13
2,440
3 288
14 633
101
10
2,268
3,757
11 554
153
33
2,166
2 219
10 491
161
38
2,163
1,538
10 866
63
46
2,265
2,213
8,879
106
13
2,414
1,097
8 713
142
23
1,876
909
468
.153
438
.123
413
.120
413
.103
413
.108
413
.108
475
.128
455
.118
425
.123
350
.133
.300
.123
.325
.113
724
1 904
2 101
2,189
846
1,978
2 350
1,820
801
1 953
2 262
1,669
791
2 015
2 330
1,870
762
2,117
2 732
2,219
712
2,039
2 149
2,001
706
2,016
2 124
2,172
751
2 038
2 477
2,141
634
1,643
2 078
1,613
783
2,010
2,121
2,320
r
730
1,959
1,920
' 2, 036
792
2,011
1,951
1,873
51
68
2,929
26
39
3,159
21
29
3,160
57
23
3,440
27
29
2,733
78
58
4,950
93
15
3,779
48
116
2,951
90
39
2,725
23
37
3,183
33
6
3,723
50
18
3,360
.675
.655
.665
.660
.660
.660
.690
.680
.670
.650
.635
'.628
J>.601
.998
.998
.985
.948
.950
.962
.985
.988
.988
.955
.908
'.863
*.897
' Revised.
" Preliminary. 2
i Revised estimate for 1953.
December 1 estimate of 1954 crop.
d" Re visions for 1952 are shown in the April 1954 SURVEY.
9 Data for January-June 1953 represent price for New York and Newark; thereafter, for New York and Northeastern New Jersey.
§Revised to represent data based on number of stamps used by manufacturers; revisions prior to May 1952 will be shown later.
2,037
2,447
* .350
» .123
2, 200
SURVEY OF CURRENT BUSINESS
January 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-31
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers:f
Production, total
__ thous. of pairs__
By types of uppers:
All leather
do
Part leather and nonleather
_
do
Shoes, sandals, and play shoes, except athletic,
total
thous. of pairs
By kinds:
Men's
do
Youths' and boys' __ _
_
do
Women's
do
Misses' and children's. _ _
do
Infants' and babies'
do
Slippers for housewear... _
__ _
do
Athletic
do
Other footwear .
_ __
do
Exports
do
Prices, wholesale, f. o. b. factory:
Men's and boys' oxfords, dress, cattle hide upper,
Goodyear welt
1947-49 = 100
Women's oxfords (nurses'), side upper, Goodyear
welt
1947-49 = 100
Women's and misses' pumps, suede split
do .
35, 572
40, 343
28, 523
7,049
42, 377
43, 702
49, 812
44, 675
38, 850
43, 533
41, 051
48, 523
42, 795
42, 883
41, 630
34 890
7, 487
35 182
8,520
39 508
10, 304
34 440
10, 235
31 713
7, 137
36 135
7,398
34 290
6 761
39 898
8. 625
34 217
8,578
34, 016
8,867
32 797
8 833
29, 611
36, 238
39, 509
40, 488
45, 704
40, 401
35, 059
38, 772
36, 1 54
41, 737
35, 787
35, 349
34, 763
6 947
1,127
13 790
4,874
2 873
5,483
274
204
330
8 266
1,377
17 422
6,029
3 144
3,592
303
210
251
8 044
1, 489
20 594
6 090
3 292
2,321
285
262
239
7 812
1,473
21 901
6 053
3 249
2,641
281
292
411
8 579
1,732
25 301
6,372
3 720
3, 560
274
274
370
8 060
1 563
22 300
5 307
3 171
3, 682
284
308
484
7 140
1 527
18 656
4 873
2 863
3 359
268
164
272
7 812
1 734
20 722
5 370
3 134
4 346
280
135
306
6 783
1 658
20 791
4 856
2 066
4 561
228
108
280
7 848
1 953
23 065
6 122
2 749
6 315
293
178
347
7 508
1 685
18 351
5 513
2 730
6 447
288
273
367
8,089
1,621
17 611
5,262
2 766
6,939
331
264
403
7 876
1,451
16 621
5 733
3 082
6,427
290
150
110.3
110 3
110 3
110 3
110 3
110 3
110 0
110 0
110 0
110 0
110 0
110 0
f> 110 0
117.5
112.3
117.5
112.3
117.5
112.3
117.5
112.3
117.5
112.3
117 5
112.3
117 5
112 3
117 5
112.3
117 5
112 3
117 5
112.3
117 5
112.3
117 5
112 3
v 116 8
•p 112.3
LUMBER AND MANUFACTURES
LUMBER— ALL TYPES
Exports, total sawmill products
M bd. ft
Imports, total sawmill products _ _ _ _ _
do
National Lumber Manufacturers Association:©
Production, total
mil. bd. ft
Hardwoods _ _
_
_
do
Softwoods
do
Shipments, total _
_
do
Hardwoods
do
Softwoods
_ _ _ _ _ . do
Stocks, gross (mill and concentration yards), end
of month total
mil bd ft
Hardwoods
do
Softwoods
do
48, 918
220, 063
54 109
197, 952
44 792
137 219
74 212
181 590
70 262
233 015
65 723
215 384
69 742
188 115
65 298
255 505
49 128
340 991
41 270
354 922
45 861
282 608
57 341
294 520
3 078
718
2,360
2,251
2 875
638
2 237
2, 706
550
2, 156
2 749
643
2 106
2 604
526
2 079
2 901
680
2 221
2 808
612
2 196
3 358
690
2 668
3 353
599
2 754
3 310
660
2 649
3 387
603
2 784
3 273
634
2 639
3 169
565
2 604
3 116
617
2 499
3 293
524
2 768
2 671
648
2 023
2 797
540
2 257
2 887
592
2 295
2 913
517
r 2 395
3 240
584
2 657
3 202
540
2 662
3 349
601
2 748
3 330
599
2 730
3 148
557
2 591
3 068
545
2 523
8 782
3,107
5 675
8 950
3,194
5 756
9 132
3 311
5 821
9 221
3 379
5 842
9 227
3 470
5 757
9 183
3 528
5 655
9 288
3 598
5 690
9 111
3 690
5 421
8 959
3 746
5 213
8 929
3 821
5 108
8 967
3 865
5 103
8 934
3 841
5 093
9 054
3 879
5 175
753
717
758
742
991
22, 305
10, 505
11,800
798
750
753
757
987
28, 161
10,619
17, 542
813
777
763
779
1,002
21 335
8,490
12,845
863
855
791
778
1,011
39 609
19, 937
19 672
1,033
865
963
1 013
961
40, 917
15, 285
25 632
944
763
941
1 037
898
27 592
5,866
21, 726
951
874
858
831
925
36 218
13, 991
22 227
884
899
712
850
787
30 393
10, 329
20 064
369
895
342
365
791
9 506
3,188
6 318
455
867
440
470
757
13 534
3,975
9 559
660
778
752
735
774
16 119
4 872
11 247
802
718
882
850
782
24 571
10 078
14 493
817
680
881
846
831
73. 122
73. 409
73. 395
73. 941
75. 054
74. 767
75. 180
76. 951
81. 592
81. 779
84. 482
2 875
624
SOFTWOODS
Douglas fir:©
Orders, new.
_
do
Orders, unfilled, end of month _
do
Production
do
Shipments
do
Stocks, gross, mill, end of month
do
Exports, total sawmill products?
M bd. ft
Sawed timber?
do
Boards, planks, scantlings, etc.?,
do
Prices, wholesale:
Dimension, No. 1 common, 2" x 4", R. L.
dol. p e r M b d . ft..
Flooring, B and better, F. G., 1" x 4", R. L.
dol. per M bd. ft..
Southern pine:0
Orders, n e w
_ _ _ _ _ _
m i l b d .f t
Orders, unfilled, end of month
_ _
do _
Production. _ _ _ _ _
do
Shipments
do
Stocks, gross (mill and concentration yards) , end of
month. _
mil. bd. ft
Exports, total sawmill products
M bd. f t _ _
Sawed timber
do
Boards, planks, scantlings, etc
do _
Prices, wholesale, composite:
Boards, No. 2 and better, 1" x 6" x R. L.
dol. per M bd. ft
Flooring, B and better, F. G., 1" x 4" x S/L
dol. per M bd. ft._
Western pine:©
Orders, new
_ mil. bd. ft
Orders, unfilled, end of month
do
Production
do
Shipments
___ _ _ _ _ _
do
Stocks, gross, mill, end of month
do. _
Price, wholesale, Ponderosa, boards, No. 3 common,
I"x8"_
___dol. per M bd. ft
r
T
86 849 v 83 662
123. 978
125. 612
124. 950
125. 922
125. 922
125. 767
125. 767
125. 440
126. 671
126. 671
127. 683
623
230
673
630
531
202
651
559
595
201
684
596
680
251
687
630
742
257
761
736
693
238
714
712
735
261
690
712
892
355
707
798
832
331
725
856
728
297
682
762
711
290
664
718
700
276
666
714
683
259
680
700
1,884
4,901
1 098
3,803
1,976
5,700
640
5, 060
2,064
3,986
1 268
2,718
2,121
6,380
1 528
4,852
2,146
5,512
923
4,589
2,148
6,414
1 601
4,813
2 126
6,806
1 564
5' 242
2 035
8,043
1 770
6 273
1 904
7,022
1 798
5 224
1 824
6,329
1 202
5, 127
1 770
5,867
1 573
4 294
1 722
8 427
2 397
5 530
1 702
132 953 pl31 397
75 218 r 75 923 P 77 973
76. 549
75. 665
74. 359
72. 092
72. 271
71. 030
70. 268
70. 633
74 624
74. 327
156. 298
155. 685
155. 379
155. 379
154. 154
152. 929
151.471
151.471
150. 981
151.557
151. 680
491
317
583
554
1,885
547
342
512
523
1,874
472
366
395
447
1,822
512
383
444
496
1,770
662
418
568
628
1,710
673
427
638
664
1,684
675
410
720
692
1,712
793
463
724
740
1,696
715
499
635
679
1 652
785
516
791
768
1 676
754
459
851
811
1 716
70. C4
70. 65
71.71
70 90
71 01
70 64
70 16
69 36
70 65
71 51
71 62
r
152 170 Pl52 170
825
422
818
788
1 746
r 71 38
694
382
679
654
1 771
P 72 07
HARDWOOD FLOORING
Maple, beech, and birch:
Orders, new
M bd. ft _
5,150
4,550
3,575
4,200
3,850
3,900
4,350
5,650
4,050
5,200
5,150
4,300
3,700
Orders, unfilled, end of month
do
7,850
9,250
9,450
10 000
9,300
10 550
10 450
11 150
11 150
12 000
11 300
11 380
11 650
Production
_
do
4 300
3 775
3 950
4 600
3 90G
3 950
3 450
3 950
4 750
4 800
4 400
3 450
4 300
Shipments _ .
__
...
do
3,750
3,825
3 900
3 750
3 650
3 750
3 950
4 850
4 400
4 650
4 650
3 500
3 900
Stocks, mill, end of month
do
9,750
9,300
8,675
9,850
10 500
10 350
10 650
9 500
8 875
8 500
8 200
10' 350
9 200
Oak:
Orders, new
do
70 910
89 079
68 178
99 618
80 206
84 824
99 934
78 781
95 444 104 462 100 481
91 449
81 496
Orders, unfilled, end of month
__ do
47, 688
46, 584
54, 743
68, 085
76, 534
74, 554
71, 364
66, 643
79 782
77 983
73 118
73 083
64 301
76 703
Production
do
81 218
77 282
90 062
89 459
75 518
92 604
86 999
96 999
99 590 100 488
97 746
90 587
Shipments. _
__
_ _ _ _ _
do
71, 221
73, 924
73 151
89 853
75 737
95 213
90 926
86 688
99 597 100 172 101 216
94 988
93 690
Stocks, mill, end of month,
do
64, 149
55, 391
68, 289
68, 070
66, 173
61, 090
62, 495
57, 486
51, 268
54, 383
47, 984
47, 256
49, 524
r
Revised.
f Preliminary.
tRevised from 1950 forward to reflect adjustments to 1953 benchmark materials; 1950-52 annual totals and monthly data for January-September 1953 will be shown later.
©Revised monthly data (for production, shipments, and stocks; also orders, except for all types of lumber) are available upon request as follows: Total, all types, January 1950-February
1953; Douglas fir, January 1952-February 1953; Southern pine, January-December 1951; Western pine, January 1950-February 1953.
{Revisions for 1952 for exports of Douglas fir sawmill products will be shown later.
SUEVEY OF CURRENT BUSINESS
S-32
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 1955
1954
January
February
March
April
May
June
August
July
Septem- October Novem- December
ber
ber
LUMBER AND MANUFACTURES—Continued
PLYWOOD
Hardwood (except container and packaging):*
Shipments (market), quarterly total
M sq. ft., surface measure ..
Inventories (for sale) end of quarter
do
Softwood (Douglas fir onlv), production*
M sq. ft., %" equivalent _ . '298,012
172, 270
33, 486
332, 290
167, 888
34, 681
358, 393
318,019
376, 994
164, 857
30 741
355, 285
342, 385
177, 340
29 266
266, 451
141, 689
207, 060
386, 812
392, 579
270, 706
40, 561
123, 409
11,073
327, 602
102, 562
140, 176
14, 650
343,611
100, 114
139, 629
22, 033
384, 636 405, 050
140,938 188,674
149,686 147,345
29, 448 r 31, 796
415, 036
166, 290
137,891
20, 651
388, 393
399, 076
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfrs.):
Exports, total© 9
short tons..
Scrap
do
Imports, total 9
do
Scrap
do
275, 144
36, 065
191, 128
10, 657
326, 599
51,953
144, 733
2,294
315,013
62, 316
86, 632
1,325
300, 433
66, 790
70, 839
2,016
315, 967
103, 464
86, 651
1,355
360, 844
65,419
103, 650
3,121
5,700
3,472
2,228
5,672
6,816
5, 588
3,472
2, 116
5, 253
7,152
4,974
3,241
1,733
5,123
7,004
4, 806
3,040
1,767
4,912
6,940
5, 103
3,181
1,921
5, 194
6,811
4,893
2,974
1,919
5,133
6,571
5,090
2,951
2,140
5,350
6,315
5, 218
2, 965
2,253
5, 224
6,315
4, 557
2,633
1,924
4,378
6,494
4,770
2,701
2,069
4, 664
6,599
4,729
2,717
2,011
4,814
6,510
5, 362
2,939
2,423
5,356
6,509
P 5, 868
p 3, 068
P 2, 800
p 5, 524
P 6, 845
6,392
6,998
4,800
3,183
2, 099
5,877
3,068
1,749
7,041
2, 982
1, 653
8,399
3,117
1,597
9,920
4,466
3, 059
11,327
9,818
10, 573
10, 580
11,610
12, 399
9,790
10, 994
11,987
8,796
10, 295
10, 823
8,269
8.913
9,333
7,848
6,776
8,070
6,554
3 272
4,101
5,726
5,300
7,522
54, 981
46, 896
8,085
965
0
7,022
48, 815
41, 145
7,671
938
0
6,996
41, 974
34, 797
7,178
846
0
5,787
36, 386
29, 661
6,725
795
0
5, 932
30, 587
24, 553
6,035
844
1,525
5,287
26, 142
20, 600
5,452
932
9, 952
5,376
29, 563
24, 147
5,416
1,119
10, 608
5,396
34, 996
29, 187
5,809
1,496
11,016
5,155
40, 723
34, 537
6,186
1,540
9, 555
4,895
45, 733
39, 199
6,534
1,691
7,951
4,620
49, 753
43, 083
6,670
1,904
7,252
5,398
51,868
44, 980
6,889
1,736
2,918
5,845
49, 869
42, 958
6,911
71
108
110
92
74
98
93
83
65
55
71
47
977
1,009
570
940
1,037
558
872
932
488
865
936
492
842
1,047
553
826
995
528
775
943
516
804
987
556
829
821
450
830
935
542
-•811
921
'534
789
943
552
93, 156
63, 663
37, 561
98, 158
72, 399
39, 721
85, 565
70, 288
38, 266
81,579
69, 078
37, 792
74, 219
84, 342
47, 125
69, 094
74,515
39, 102
67, 040
67, 856
37, 306
60,163
72, 820
41,121
63,711
50, 893
25, 243
62, 494
59, 259
34, 528
66, 742
58,015
33, 929
71,090
64, 321
36, 956
6,063
5,963
5,779
5,703
5,580
5,525
4,811
4,809
4,959
4,892
4,503
4,505
4,624
4,691
4,724
4,813
4,626
4,469
4,567
4, 495
4,462
4,486
r
4,984
5, 061
5,257
P 5, 335
2,660
2,800
2,764
2,829
2,858
2,809
2,729
2,620
2,762
2,843
2,743
'2,640
P 2, 529
56.03
56.00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
56. 03
56.00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
56. 03
P 56. 00
P 56. 50
56.03
114, 229
85, 047
17, 768
123, 295
92, 299
18, 665
122, 758
93, 577
20, 058
116,520
88,699
17, 756
122,310
92, 271
15, 502
105, 788
78, 754
10, 768
94, 610
70, 596
9,337
100, 022
72, 881
8,596
75, 848
53, 207
5,815
89, 590
66, 792
9,344
88, 359
64, 722
8,668
87, 085
64, 004
8,580
740.1
143.2
103.1
40.1
650.5
142.6
98.9
43.7
637.9
138.9
101.5
37.4
539.2
126.9
94.2
32.7
486.5
130.2
95.5
34.7
459.6
115.8
86.4
29.3
430.6
107.1
80.9
26.2
409.2
113.1
86.2
26.9
395.4
96.8
74.4
22.3
410.1
102.2
77.2
25.0
409.0
109.1
81.7
27.4
382.0
112.7
86.0
26. 7
8,690
90
7, 946
80
7,951
75
7,083
74
7,290
69
6,971
68
7,473
71
7,364
72
6,628
63
6,667
63
6,807
67
7,702
73
' 8, 089
79
8,281
79
.0524
.0524
.0524
.0524
.0524
.0524
.0524
.0524
.0539
.0541
.0541
.0542
.0542
.0542
72.00
.0438
72.00
. 0438
72.00
.0438
72.00
.0437
72.00
.0437
72.00
.0437
72.00
.0437
72.00
.0437
74.00
.0452
74.00
.0452
74.00
.0452
74.00
.0452
P 74. 00
P . 0452
36.50
33.50
30.50
28.50
25.50
26.50
29.50
29.50
28.50
29.50
30.50
32.50
p 34. 50
r
Iron and Steel Scrap
Production and receipts, total*., .thous. of short tons..
Home scrap produced*
do
Purchased scrap received (net)*__
do
Consumption total
do
Stocks consumers', end of month _ _._
do
Ore
Iron ore :
All districts:
Mine production
thous. of long tons__
Shipments
do
Stocks at mines, end of month
do
Lake Superior district:
Shipments from upper lake ports _ _
do
Consumption by furnaces
do
Stocks end of month, total
do
At furnaces
do
On Lake Erie docks
do
Imports
do
Manganese ore, imports (manganese content)
thous. of long tons__
18
Pig Iron and Iron Manufactures
Castings, gray iron:
Orders, unfilled, for sale
thous. of short tons__
Shipments, total
_
do
For sale
do
Castings, malleable iron:
Orders unfilled, for sale
short tons
Shipments, total
.
- do _ _
For sale
do
Pig iron:
Production
thous. of short tons
Consumption .
__.
_
do ._
Stocks (consumers' and suppliers'), end of month
thous. of short tons__
Prices, wholesale:
Composite
dol. per long ton.
Basic (furnace)
do
Foundry No 2, f o. b. Neville Island
do
Steel, Crude and Semimanufactures
Steel castings:
Shipments, total
- _ - short tons
For sale, total
do
Railway specialties
do
Steel forgings:
Orders, unfilled, for sale
thous. of short tons_.
Shipments, for sale, total
do
Drop and upset
_do
Press and open hammer.
do
Steel ingots and steel for castings:
Production.
.
. do_
Percent of capacity}!
__ _ __ ._
Prices, wholesale:
Composite, finished steel
dol. per l b _ _
Steel billets, rerolling, f. o. b. mill
dol. per short ton..
Structural steel, f. o. b. mill
dol. per lb_.
Steel scrap, heavy melting (Pittsburgh)
dol. per long ton..
Steel, Manufactured Products
Barrels and drums, steel, heavy types:
3,066
3,238
3,538
3,141
3,404
3,231
3,101
Orders, unfilled, end of month
thousands
2,586
3,208
3,160
2,939
2,256
2,726
1,892 • 1,908
1,600
1,848
2,003
1,681
1,950
1, 785
2,038
Shipments
__ _ _ do
1, 868
1,902
1,848
1,782
62
67
71
73
88
78
72
68
Stocks, end month of. ... _
.do ..__
112
109
67
110
103
r
Revised.
*> Preliminary.
*New series. Data for hardwood plywood are compiled by the U. S. Department of Commerce, Bureau of the Census; they cover all known market producers of hardwood types, except
as indicated.
Douglas fir plywood production is compiled by the Douglas Fir Plywood Association.
Data presented are total industry figures, based on reports from plants controlling, on the average,
approximately 90 percent of industry capacity. The monthly totals are estimated from weekly reports by prorating split weeks on the basis of a 5-day workweek, with allowance for generally
observed holidays.
Data for production and receipts of iron and steel scrap are compiled by the U. S. Department of Interior, Bureau of Mines; data prior to 1953 are not available for publication.
OIn the 1952 edition of the export schedule, certain items (pipe fittings, welding rods, bolts, fabricated structural and other shapes) were transferred from the steel-mill products to the
metal manufactures category. The data through 1952 as shown in the 1953 edition of BUSINESS STATISTICS were adjusted to include exports of these commodities for comparability with the
earlier data. Exports beginning January 1953 as published in the March 1953 SURVEY and subsequent issues exclude these items which averaged 21,300 short tons per month in 1953.
9 Revisions for 1952 are shown in the April 1954 SURVEY.
JFor 1954, percent of capacity is calculated on annual capacity as of January 1,1954, of 124,330,410 tons of steel; 1953 data are based on capacity as of January 1,1953, of 117,547,'l70 tons.
SURVEY OF CURRENT BUSINESS
January 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-33
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Steel, Manufactured Products— Continued
Cans, metal, shipments (in terms of steel consumed),
total
-- - -- short tons _
Food
do
Nonfood
-do
Shipments for sale
do
Commercial closures production
millions
Crowns production
thousand gross
Steel products, net shipments:
Total
thous. of short tons_.
Bars' Hot rolled all grades
do
Reinforcing
__ _
do
Semimanufactures
- do
Pipe and tubes
do
plates
-- do. _ .
Rails
Sheets
_. Strip1 Cold rolled
Hot rolled
Structural shapes heavy
Tin plate and terneplate
Wire and wire products
._
do
--- --- do - .
. __do _.
do - do
do
do
314, 408
190,280
124, 128
280, 289
192, 403
123, 416
68, 987
155,000
264, 708
161,320
103, 388
224, 580
260, 053
157,880
102, 173
225, 597
291,408
164, 484
126, 924
252, 096
323, 903
187,779
136,124
278, 292
317,332
179, 790
137,542
275, 979
380, 981
222, 832
158,149
339, 278
407, 615
247, 928
159, 687
370, 498
523, 140
375, 998
147, 142
478, 103
457, 992
328, 354
129, 638
408, 424
1,097
22, 378
1,137
21,972
1,089
24, 581
1 207
26, 572
1 410
31, 680
1 386
31 285
1 308
29, 767
1,449
32, 026
1,209
28, 679
1 330
27 366
5,904
633
140
190
728
609
5, 685
586
125
190
714
633
5,728
569
111
169
664
572
5,365
549
113
165
664
529
5,584
546
125
161
748
544
5,288
479
146
153
765
457
5,423
494
163
136
731
442
5,887
532
211
157
786
421
4,490
444
168
116
674
376
182
1,768
169
151
443
303
270
185
1,674
140
116
481
266
264
178
1,738
123
127
473
411
292
178
1,519
113
116
438
393
314
166
1,496
112
120
437
475
366
122
1,481
99
111
384
445
375
82
1,539
94
125
353
607
394
108
1,657
107
14C
373
690
423
110, 291 116,247
434, 958 444, 137
. 1033
.0892
110,483
462, 577
. 0875
122, 339
474, 966
.0892
120, 434
435, 681
.1037
125, 138
451, 744
.1092
120, 758
457, 748
.1000
r
r
361,679
236 278
125, 401
310,672
273, 621
166 980
106,641
239 886
1 283
21, 841
1 328
20 454
1 219
18 264
4,681
446
152
142
715
365
5,004
471
151
138
694
379
5, 035
530
150
141
T 662
395
5 240
577
140
171
579
398
80
1,347
74
95
350
242
322
71
1,331
95
109
326
342
351
63
1,357
103
108
346
580
359
59
1, 633
110
130
344
273
360
49
1, 857
126
144
331
261
366
126, 161
442, 371
.1000
125 296
469, 227
.1000
120 332
413, 265
.1081
125 089
418, 590
.1100
121 252
227.2
42 4
184 8
104.6
J
.444
225. 9
46 2
179 7
101 1
1.444
233 9
53 4
180 ,K
100 8
i .444
62. 140
T
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production primary
short tons
Imports bauxite
.long tons
Price, wholesale, scrap castings (N. Y.).._dol. per l b _ _
Aluminum fabricated products, shipments, total
mil. of lb-Castings
do
Wrought products total©
do
Plate and sheet©
do
Brass sheets, wholesale price, mill
dol. per l b _ _
Copper:
Production :
Mine production, recoverable copper— short tonsCrude (mine or smelter, including custom intake)
short tons-Refined
do - Deliveries refined, domestic
- do .
Stocks refined end of month
do
Exports, refined and manufactured
do
Imports total 9
- do
Unrefined including scrap 9 __ . __ _ _ _do- . .
Refined 9
-- - -do_Price, wholesale, electrolytic (N. Y.)
dol. per lb_Lead:
Ore (lead content):
Mine production
- short tons
Receipts by smelters, domestic ore
do
Refined (primary refineries) :
Production
-do
Shipments (domestic).- _ _ _ _ ._
do_ _ .
Stocks end of month
_
_ .
_ _ _do. Price, wholesale, pig, desilverized (N. Y.) dol. perlb._
Imports, total, except mfrs. (lead content) 9
short tons.Tin:
Production pig§
-- - long tons
Consumption pig, total§
do. . .
Primary§
-- . _ - do - _
Stocks, pig end of month, total§
do _ Govemment§
. _
do
Industrials
_
- do
Imports:
Ore (tin content).
_.
do ,-Bars, blocks, pigs, etc..
do
Price wholesale, Straits (N. Y.)
dol. per lb_
Zinc:
Mine production of recoverable zinc
short tons__
Slab zinc:
Production
do
Shipments total
do
Domestic
do
Stocks, end of month
do
Price, wholesale, prime Western (St. Louis)
dol. per lb_Imports, total (zinc content).- . _ __ .short tons
For smelting, refining, and export 9
do
For domestic consumption:
Ore ''zinc con tent) 9 —-- -- - -- -do. Blocks, pigs, etc. _..
__
- d o
105,636
400, 077
.0996
^ . 1100
.1100
199.9
51.0
148.9
89.4
.417
200.8
51. 6
149.2
91.2
.417
205.4
51.4
153.9
84.3
.417
196.5
51.2
145.3
80.5
.417
226.2
56.2
170 0
93.0
.417
227.2
53 0
174 2
96.9
.417
216.3
47.7
168 7
94.9
.417
232.3
48. 1
184 2
102.0
1
.444
75, 937
77, 340
74, 697
65, 299
71, 289
68, 383
71,424
72, 984
66, 567
51, 736
85, 724
119,230
100, 908
93, 274
88, 732
123,296
112,244
89, 193
84,216
111,553
77,091
108, 121
74, 428
103, 496
89,017
118,417
81, 100
117,546
95, 795
125 759
77, 463
112,617
104, 579
124 523
78, 231
108, 403
111,005
82 111
85, 329
112,121
106, 252
69, 181
75, 667
107, 095
97, 436
68 921
61, 609
103 901
92 475
58 387
15, 898
32, 226
25, 823
6,403
.2965
26,416
32, 105
18, 960
13, 145
.2967
30, 472
34, 790
20, 533
14, 257
.2967
25, 499
55,617
41,155
14, 462
.2967
19,043
43, 214
31,961
11, 253
.2969
31,235
46,547
32, 867
13, 680
.2970
29, 712
51,974
32,118
19, 856
.2970
26,046
81, 833
35,316
46, 517
.2970
24, 183
62, 228
30, 816
31,412
.2970
27, 121
54 574
38 161
16 413
.2970
16, 783
52 388
32 740
19 648
.2970
25, 867
28 603
20 508
8 095
.2970
.2970
25, 059
26, 904
27, 354
28,812
24, 695
26, 202
27, 443
29, 342
29, 316
31, 520
26, 844
28, 508
25, 395
25, 762
26, 209
28, 266
25, 291
26, 975
27 111
28 835
24 994
25 244
25 503
26 884
29 107
52, 562
43, 234
67, 494
.1350
48, 687
35,007
81,152
.1350
48, 518
37, 108
92, 496
. 1326
42, 046
36, 551
97, 981
.1282
50, 808
47, 837
100, 927
.1294
46, 730
47, 161
100, 441
.1390
49, 139
40, 183
109, 302
.1400
42,317
46, 987
104, 626
.1411
35, 716
37, 195
93 030
.1400
44 089
43? 402
84 429
.1406
47 762
30 891
93 358
.1460
51 276
36 307
95 496
.1497
46 711
34 913
94 387
. 1500
40, 052
30, 587
43, 043
46, 957
52, 841
49, 126
62, 089
64, 014
41, 494
34, 020
31, 120
23, 530
2,964
5,826
3,698
2,986
6,182
3,822
2,957
6,260
4,060
3,232
6,350
4,230
3,804
7,190
4,720
3,207
7,230
4,850
2,235
7 210
5,100
1,425
7,400
5,100
2
194
6 300
4,500
2 232
7*000
4' 700
2 625
Q 700
4' 600
2 636
6 700
4 300
9 43 ',
6 70( >(
4 300
28, 460
15,717
12, 743
32, 928
18, 467
14, 461
35, 674
22, 767
12, 907
39, 389
26, 646
12, 743
38, 204
26, 650
11,554
33, 371
22,152
11,219
19 581
6,842
12, 739
12, 925
0
12, 925
11 380
0
11, 380
15 127
2 502
12 625
16 491
4 406
12 085
17 0^4
4' 255
12 769
16 522
2 855
13 667
3,329
5,067
.8319
3,648
5,802
.8461
2,781
6,176
.8483
2,417
3,987
.8504
1,346
5,413
.9188
1,217
5,021
.9612
16
5,828
.9353
3,100
6,859
.9421
414
3,924
9654
2 562
5 487
9338
2 286
4 601
9354
1 808
6 106
9304
9110
8857
37, 699
39, 919
38, 852
38, 122
41, 252
39, 945
40,031
40, 436
38, 676
38, 745
34, 536
36, 443
75, 891
68, 685
63,617
165, 623
79, 116
63, 896
55, 487
180, 843
78 561
60 692
54, 865
198 712
047
80 119
415 r 97 617
Q67 r 77 074
137 \\\A 639
75 105
124' 077
.1000
48, 538
2,831
.1000
73, 246
4,454
.0976
66, 323
2,455
68
66
57
199
020
738
781
994
.0938
63, 908
6,704
71
70
66
201
186
080
929
100
.0964
77, 774
1,264
70
70
67
200
258
618
152
740
.1025
39, 112
2,054
73
64
61
209
654
566
859
828
.1029
50 847
45
71
80
72
201
209.6
39.6
169.9
94.7
l
. 444
540
70
244
73
262 r 58
124 198
.1096
128 786
1,239
749
846
397
027
.1100
57 827
194
71
76
58
193
810
584
188
253
.1100
56 949
157
r
181 8
103 8
v i . 444
71, 166
79,212
68, 995 r 78, 467
87, 874
92 258
89 198 105 293
32 515
47 666
99, 746
118 949
122 9908
36 15
67
60 137
77 885 90
64* 548 T 73
175 505 152
.1141
26 041
'2J214
.1150
22 °50
128
T
. 1150
"
.2970
.1500
or
i ct>
.1150
37 565
58, 292
52,419
48 525
21 439
61 332
40 594 108 776
45 885 r 12 853
10 60°
11,449
10, 500
8,679
15,619
15, 178
20, 068
18, 771
10, 208
10,' 974
10, 907
11,520
r
Revised. * Preliminary.
i Specifications changed; not comparable with data prior to June 1954.
2 Production by secondary plants only.
©Data beginning January 1954 are based on a more comprehensive survey. Comparable figures for December 1953 (mil. lb.): Total wrought products 150 7" plate and sheet 90 9
9 Revisions for 1952 imports are shown in the April 1954 SURVEY.
§ Substituted series. Compiled by the U. S. Department of Interior, Bureau of Mines; monthly data for 1951 and 1952 appear on p. 24 of the March 1954 SURVEY. Government stocks
represent those available for industrial use.
36, 198
9,509
SURVEY OF CURRENT BUSINESS
S-34
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 1!).~>5
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
METALS AND MANUFACTURES—Continued
HEATING APPARATUS, EXCEPT ELECTRIC*
Radiators and convectors, cast ironic?
Shipments
thous. of sq. ft _
Stocks, end of month
do
Oil burners :J
Shipments
_number_.
Stocks, end of month
__ do _ _ .
Stoves and ranges, domestic cooking, excl. electric:
Shipments, total
_.- .- number. _
Coal and wood
do _ _
Gas (incl bungalow and combination)
do
Kerosene, gasoline, and fuel oil
do
Stoves domestic heating, shipments, total
do
Coal and wood
do
Gas
__
- do _ _
Kerosene, gasoline, and fuel oil
do
Warm-air furnaces (forced-air and gravity air-flow),
shipments, totalA
- -number. _
Gas
do
Oil
do
Solid fuel
do
Water heaters, gas, shipments*. _ _
do
2,782
5,986
2,095
5,957
2,041
6,126
1,896
6,292
1,732
6,906
1,738
7,453
1,745
7,696
2,208
7 903
1,937
7 438
3,315
6 765
3,217
6 478
3 354
5 915
62, 010
65, 250
44, 631
76, 872
46, 181
75, 110
44, 175
71,251
48, 983
77, 203
50, 350
84, 276
52, 781
82, 995
68, 798
80, 845
65, 184
75 345
90, 662
72 238
102, 888
57, 306
101,916
53 174
176, 297
6,876
159, 270
10, 151
150, 392
5,516
134, 904
9,972
151, 397
4,683
137, 768
8,946
168, 062
6,110
153, 515
8,437
203, 584
5,643
188, 519
9,422
186, 951
5,876
172, 762
8,313
176, 925
3,468
164, 228
9,229
187, 944
4,206
174, 806
8,932
145, 829
4 351
134 896
6 582
196, 180
6,294
180 210
9 676
222, 839
7,708
204, 947
10, 184
216
7
197
11
956
320
984
652
260, 150
27, 610
172, 467
60, 073
103, 223
11,028
64, 070
28, 125
88, 689
4,471
40, 791
43, 427
74, 542
6,117
33, 364
35, 061
94, 395
7,242
44, 691
42, 462
126 819
6,804
77, 109
42, 906
125, 981
6,474
76, 427
43 080
180 323
10, 935
111, 796
57 592
203
23
114
66
901
443
195
263
261 936
36 879
156, 343
68 714
351 135
55, 091
205, 345
90, 699
417
66
257
92
185
824
606
755
85, 783
43, 137
37, 895
5,546
148, 855
63, 612
33, 495
27, 984
2,806
135, 054
57, 192
30, 927
23, 862
2,403
161, 152
57, 217
30, 505
24, 267
2,445
171, 490
69, 280
39, 870
26, 827
2.583
184, 043
72, 488
43, 566
26, 882
2,040
196, 767
82, 462
49, 661
30, 210
2,591
191, 660
95, 359
57 229
33, 923
4 207
202, 574
92 463
53 116
35 474
3 873
186 528
130, 486
75 062
48 655
6 769
202, 990
148, 370
82, 023
57, 503
8,844
201, 405
137
79
50
7
198
820
022
963
835
001
|
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly:
Blowers and fans, new orders
thous. of dol
Unit heater group, new orders. __ __ __ _ _ do
Foundry equipment (new), new orders, netf
mo. avg. shipments, 1947-49=100Furnaces, industrial, new orders, net:
Electric processing
thous. of dol
Fuel-fired (except for hot rolling steel)
do
Machine tools (metal-cutting types):
New orders
mo. avg. shipments, 1945-47= 100. .
Shipments
do
Pumps, steam, power, centrifugal and rotary, new
orders
._ ._ thous. of dol__
Tractors (except garden), quarterly:*
Shipments totalO
do
Wheel type (excl contractors' off -high way) __ do
Tracklaying
do
62 049
14, 586
49, 495
13, 661
43, 197
16, 699
37, 709
14, 840
150.0
161.2
173.8
99.9
82.7
125.3
80.8
86.4
68.8
75.6
68.3
147.5
1,166
1,690
909
1,624
1,356
1,832
994
1,686
2,042
1,119
1,262
1,711
3,051
2,423
986
3,642
457
973
1 053
1,116
986
1,241
2 403
1,936
1 190
1,534
146.6
320.2
149.8
301.4
173.5
319.4
159.8
323.1
169.6
327.2
142.8
302.7
139.5
270.3
185.2
276.3
124.7
205 7
147.9
203 7
180.9
213.4
148.9
191. 0
P 118. 9
p 179 6
4,645
4,057
4,272
5,093
5,319
5,007
5,176
4,733
6,706
4,634
149, 094
76, 524
66, 201
173, 955
105, 302
60, 207
5,050
r
211,686
123, 050
74, 731
T
3,828
155 588
81, 158
63 041
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), ship1,890
2,173
ments
-.
_ __ . .
thousands.
Household electrical appliances, sales billed:
53. 1
35.2
Refrigerators indexf
1947-49=100
190.8
216.2
Vacuum cleaners standard type
thousands
3 r 238. 2 M91.6
Washers, domestic sales
do
1, 065. 8 i 1, 101. 1
Radio sets, production§ _
.
_
do...
Television sets (inch combination), production!
561.2 i 449. 8
thousands. .
Insulating materials and related products:
Insulating materials, sales billed, indexf
133 1
129 6
1947-49—100
Fiber products:
Laminated fiber products, shipments©
8,894
8,879
thous of dol
Vulcanized fiber:
3,571
3,591
Consumption of fiber paper
thous. of Ib
1,405
1,367
Shipments of vulcanized products thous of dol
17 756
17 488
Motors and generators, quarterly:
144.6
New orders indexf
1947-49=100
Polyphase induction motors, 1-200 hp:1
36,
341
New orders
thous of dol
37, 804
Billings
do
Direct current motors and generators, 1-200 hp:f
7,883
New orders
thous of dol
11, 490
Billings
do
1,788
r
95.0
221.2
250. 0
872.0
1,422
91.0
199.0
' 295. 2 r
769.2 i
r
1,194
1,150
1,391
1,834
2,288
2,481
2,728
89.0
276.5
307. 9
940.4
73.0
220.8
258. 7
745.2
74.0
209.4
' 246. 9
722.1
82.0
195.8
* 303. 5
i 837. 7
93.0
193.6
r
242. 9
438.1
71 0
185.4
r
293 2
785.5
73.0
238.2
r
379. 7
* 932. 3
51.0
263.2
339.2
997.8
237.9
308. 4
1, 098. 7 p i 1,282.9
858.5 v i 857. 3
r
2, 667
420.6
426.9
i 599. 6
457.6
396.3
i 544. 1
307.0
633.4
i 947. 8
921.5
124 0
120 0
136.0
124 0
116 0
124.0
92.0
111 0
123 0
117 0
8, 345
8, 160
9,598
9,235
8,843
9,521
7,739
8,857
10, 337
9,528
3,346
1,421
16 133
3,370
1,451
17 230
3,850
1,535
20 306
3,266
1,388
20 770
3,431
1,237
21 784
3,128
1,236
26 171
2,566
3,373
1,152
1,037
2
28 544 2 28 076
3,062
1,217
2 27 616
3,251
1,301
2 27 622
152.0
153.0
35, 208
36, 304
36, 817
35, 675
9, 533
9, 131
7,958
10, 183
2,407
9,596
2
2,964
1, 350
29 645
130.0
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
2,194
2,443
r 2, 680
1,939
2,253
2,520
2,386
2,354
2,117
2,204
1,877
2,226
1,958
Production
thous of short tons
Stocks in producers' storage yards, end of month
1,244
1,504
1,405
1, 293
1,328
1,384
1,252
1,223
1,916
1,656
1,726
1,340
1,929
thous. of short tons..
403
217
147
273
145
152
240
159
193
246
130
247
Exports
do
Prices:
24.41
24.62
24.96
25.19
24.66
26.34
26.05
26.34
26.36
26.36
26.36
24.40
24.40
Retail composite 9
dol. per short ton
13. 588
13. 836 ••13.350 f 13. 498
13. 588
13. 713
13. 381
15. 533
15. 533
15. 533
15. 533
12. 850
Wholesale, chestnut, f. o. b. car at mine.. do
15. 533
r
l
2
3
Revised.
* Preliminary
Represents 5 weeks' production.
Data beginning July 1954 are for 13 companies; earlier data, 11 companies.
Revised to exclude export sales; revisions for January-October 1953 (thous.); 277.3; 326.6; 346.0; 288.5; 286.5; 304.1; 228.3; 291.3; 340.5; 310.9.
J Revisions for oil burners for January-July 1952 are shown in a footnote on p. S-33 of the January 1954 SURVEY; revised data for other items of heating apparatus will be shown later.
cf Data beginning June 1953 are compiled by The Institute of Boiler and Radiator Manufacturers and represent substantially complete coverage of shipments of cast iron radiators and convectors.
A Monthly totals for 1953 reflect adjustments to the annual survey. Such adjustments have not been made for components; therefore, detail does not add to total.
*New series. For source of data and brief description, see corresponding note on p. S-34 of September 1954 SURVEY.
fRevised to reflect use of new base period; data prior to August 1952 for all series (except for foundry equipment) will be shown later.
©Includes contractors' off-high way wheel-type tractors.
§Radio production comprises home, portable battery, automobile, and clock models; television sets include combination models. Data for December 1953 and March, June, September
and December 1954 cover 5 weeks; other months, 4 weeks.
©Data for November-December 1953 cover 18 companies; beginning January 1954, 19 companies.
IData beginning 3d quarter of 1953 for polyphase induction motors cover 33 companies; for direct current motors and generators, data beginning 1st quarter 1954 cover 26 companies, 4th
quarter 1953, 27.
9 Revised to represent weighted average price of anthracite stove based on quotations in 6 cities as follows: Baltimore, Boston, Laconia (N. H.), Madison (Wis.), Middletown (Conn.),
and New York.
SURVEY OF CURRENT BUSINESS
January 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-35
1954
January
February
March
May
April
June
July
August
Septem- October Novem- December
ber
ber
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL— Continued
Bituminous: d"
Production
_
thous. of short tons. _
Industrial consumption and retail deliveries, total
thous. of short tons
Industrial consumption total
do
Beehive coke ovens
do
Oven-coke plants
do
Cement mills
do
Electric-power utilities
do
Railways (class I)
do
Steel and rolling mills
do
Other industrial
_
do
Retail deliveries
do
'Consumption on vessels (bunker fuel)
thous. of short tons..
Stocks, industrial and retail dealers', end of month,
total
thous. of short tons _
Industrial total
Oven-coke plants
Cement mills
Electric-power utilities
Railways (class I)
Steel and rolling mills
Other industrial
do
do
do
do
do
do
do
Retail dealers
do
Exports
do
Prices:
Retail composite!
dol per short ton
Wholesale:
Mine run f o b car at mine
do
Prepared sizes f o b car at mine
do
COKE
Production:
Beehive
thous of short tons
Oven (byproduct)
- do
Petroleum coke 9
do
Stocks, end of month:
Byproduct plants total
do
At furnace plants
do
At merchant plants
do
Petroleum coke
do
Exports
- do _ _
Price, beehive, Connellsville (furnace)
dol. per short ton_.
r 35, 798
* 37, 423
34, 055
29, 657
31, 456
28, 380
29, 050
30, 660
27, 750
33, 305
34, 385
r
r
r
r
39, 772
31 436
32, 962
26 560
34, 134
27 969
27, 958
24 487
26, 477
23 831
25, 535
23 256
24, 937
22 836
26, 453
23, 585
27, 113
23, 491
8 050
6 901
10, 620
1,939
1,610
35, 819
30, 448
'478
r
8, 387
686
9,893
2,096
481
8,427
39, 099
31,956
r
446
r
8,r 339
754
10, 585
2,092
555
258
735
566
9,268
8,336
106
624
8,798
476
8,045
6,402
59
7,298
676
9,614
1,601
532
8,189
6,165
56
6,658
625
8,438
1,347
411
6,952
3,471
641
8,435
1,356
381
6,160
2,646
52
6,427
693
9,568
1,384
306
5, 155
2,868
45
49
6,593
576
9,029
1,254
339
5,416
2,279
47
6,811
6,581
675
9, 133
1,278
315
4,809
2,101
r
36, 610
36,750
30, 180
25, 783
31, 535
26, 993
51
7,438
719
10, 435
1,449
432
6,469
4,542
46
7,246
740
10, 076
1,375
360
5,940
4,397
'56
6,396
674
9,456
1,233
320
5,356
3,622
5,371
9,185
7,143
54
19
5
4
5
29
52
62
55
47
47
54
47
82, 381
80, 614
75, 741
75, 194
72, 033
70, 595
69, 432
69, 646
67, 186
68, 566
69, 690
70, 349
71,019
80 642
16, 720
1 541
40, 487
2 562
1 008
18 324
79 075
16 486
1 461
39, 770
2 570
74 531
14, 885
1 290
38, 090
2 432
74 029
14, 730
1 173
37, 969
2 350
71 146
13, 887
1 068
37, 468
2,167
69 611
12 856
1 071
37, 504
2 049
68 606
12, 596
1 090
38, 299
1 839
68 803
12, 659
1 144
39, 125
1 811
66 286
11 125
1 123
38, 848
1 662
67 656
11,571
1 184
39, 708
1,657
68 764
11, 868
1 233
40, 462
1 597
69 455
12, 190
1 287
40,889
1,496
17 811
16, 903
16, 920
15, 726
15, 333
14, 042
13, 356
12, 889
12, 915
12, 692
12, 979
70 096
12, 475
1 360
41,072
1 540
592
13, 057
1,739
1,539
1,210
1,165
887
984
826
843
900
910
926
894
923
2,712
1,720
1,414
1,294
1,449
2,462
3,100
3,136
2,832
3,333
2,940
3 526
14 89
14 98
977
931
887
830
798
15 10
15 12
15.14
15 13
15 12
14 99
5.716
6 811
5.716
6 807
5.681
6 837
5.607
6 787
5.481
6 429
5. 403
6 375
307
280
5,825
386
164
5,634
387
64
4,824
325
35
5,110
395
35
4,658
386
29
4,772
379
31
4,609
371
2 727
1,682
1 045
2,751
1,702
1,049
209
36
2,719
1,525
1, 194
2 860
1,579
1 281
3,012
1,657
1,355
172
29
2,744
1,649
1,096
222
26
331
36
2,973
1,609
1,364
355
46
14.75
14.75
14.75
14.75
14.75
14.75
14.75
2,194
188,315
93
209,599
2,253
193 378
2,599
193, 453
2,169
178, 603
2,563
201, 702
2,486
198, 440
2,467
200, 593
215, 892
215, 366
197, 914
214, 620
204, 336
283, 021
71, 634
192, 585
18, 802
276, 676
72, 738
185, 165
18, 773
270,811
70, 661
180, 876
19, 274
266, 918
70, 916
177, 242
18, 760
271, 867
73, 068
180, 304
18, 495
280, 310
75, 852
185, 995
18, 463
1,052
17,919
2,820
1,378
19 841
2.82(
1,587
18, 009
2.820
795
873
17, 623
2.820
21, 683
2.820
43, 901
36, 684
44, 663
38, 652
3 45, 474
39, 398
3 43, 256
34, 754
44, C61
47, 280
64, 013
54, 092
« 74, 809
54, 976
6,907
8,043
6,099
7,619
8,534
6,612
133, 381
51,267
14 70
14 70
1
2
1
3
6. 398
4 538
621
639
708
740
1
2
6. 440
4 525
14 73
14.78
6. 586
4 506
i 6. 711
2 4 498
r
614
612
35
4,456
410
r
412
2 843
1,619
1 224
2 856
1 624
1 235
2 917
1,693
1 224
r
14.75
14.75
14.75
14.75
14.25
2 867
194 037
2,534
191 190
2,298
184 527
218, 178
2,298
195,000
88
208, 408
214, 402
212, 708
208, 155
2 370
190 198
' 86
211 851
282, 250
75, 503
187, 770
18, 977
285, 155
75, 187
191, 055
18, 913
284 894
74, 574
191 352
18, 968
281 043
70, 659
191 374
19,010
274, 608
67, 989
187, 674
18, 945
269
68
181
19
1,418
17, 259
2.820
1,258
20, 145
2.820
1, 372
20, 441
2.820
1 073
20 379
2.820
1 349
20 454
2 820
20 053
2.820
1 485
18 451
2 820
3 45, 204
36, 222
3 41, 218
34, 215
3 42, 531
35, 582
3 41, 966
33, 691
3
43, 892
33, 749
345 048
33, 131
45, 415
32, 569
347 890
33 047
3 52, 840
46, 978
3 54, 222
48, 902
3
3
3
3
26, 864 r 3 29 494
36, 139
37 358
8,285
7,839
6,031
5,699
7,595
5,494
6,456
7,819
5,985
4,783
7,230
6,381
111, 944
49, 370
381,044
47, 474
3 70, 390
47, 119
3 60, 270
44, 249
3 61, 721
44, 362
2,134
1,912
2,362
1,514
1,616
1,365
1,275
1,756
1,516
2, 106
1,911
1,637
1,992
2,006
2,176
1,793
1,711
1 883
.100
1.350
.095
1.450
.095
1.500
.100
1.450
.097
1.200
.095
1.150
.092
1.100
.092
1.000
090
092
092
1.000
1 150
1.150
10, 624
11, 947
36 271
11 704
18, 229
29 070
33 12 086
18, 287
3 22 013
.105
.105
380
2 658
1,698
959
137
34
269
29
299
24
30
r
4,591
420
29
5 053
456
33
5,198
r 2 851
2 807
1 595
1 211
402
14
395
34
384
25
15 04
1
i 6. 875
6 955 p i 6 961
2
4 493 r 2 4 4gg P 2 4 488
r
40
4, 476
5,915
37, 082
l 638
1 213
'424
34
13.75
13.75
PETROLEUM AND PRODUCTS
Crude petroleum:
Wells completed^
... number.
Production^
thous. of bbl
Refinery operations
percent of capacity
Consumption (runs to stills)
_ thous. of bbl_
Stocks, end of month:
Gasoline-bearing in TJ S total
do
At refineries
do
At tank farms and in pipelines
do
On leases
do
Exports
Imports
Price (Oklahoma-Kansas) at wells
do
do
dol. per bbl
Refined petroleum products:
Fuel oil:
Production:
Distillate fuel oilj
thous. of bbl
Residual fuel oil t
_ _ _ _ _ _ _do Domestic demand:
Distillate fuel oil t
do
Residual fuel oil J_ _
_ _ _. _do _
Consumption by type of consumer:
Electric-power plants
do
Railways (class I) § __ _
_ _ _ _
do _
Vessels (bunker oil)
do
Stocks, end of month:
Distillate fuel oil
do
Residual fuel oil
. .
- _-do_ _
Exports:
Distillate fuel oil
.
do
Residual fuel oil
do
Prices, wholesale:
Distillate (New York Harbor, No. 2 fuel)
dol. per gal
Residual (Okla., No. 6 fuel)
__dol. per bbl__
Kerosene:
Production
thous. of bbl
Domestic demandj_ _ _ _ _ _ _ _ _
do
Stocks, end of month
do
Exports
_
_ _ _
do
Price, wholesale, bulk lots (New York Harbor)
dol per gal__
469
.110
92
623
91
418
91
88
3 1J,542 33 10 943
3 12, 682
12, 99C
3 20 183 3 17 533
564
609
.110
.107
86
38, 269
42, 392
89
6 893
19 656
27, 440
38, 074
4,250
6,921
6,289
3
3
9 665
3
3
28, 966
39,417
73, 58 1
47, 009
4,291
7,7CO
6,378
3
3
9 350
3
3
4, 861
23 892
584
158
.105
.102
90
86, 325
50, 216
3 9 177
4, 537
28 184
4 446
7,660
6 475
3
229
.102
9 156
4 920
31 953
398
3
r
3 32, 870
39, 069
3
357
6 196
34 949
80
v 2 820
5 316
7 818
6 119
5 819
5 981
128 061 3 139 128
56, 702
56 541
3
3
3
442
292
678
472
35 002
43 029
1,525
1 546
3
9
3
3
3
4 904
7,730
6,331
1 434
1 580
3
3
3
509
4 851
' 7, 835
5 928
101 657 r3116 529
54, 365
56, 332
3
3
88
87
9 018
6 555
37 099
250
2 170
1 275
r
T> 096
096
1 250 v 1 349
3 9 59Q
3 9 261
3 37 140
188
.104
.100
.100
.100
p. 104
r
l
Revised.
* Preliminary.
Price 3for large domestic sizes; not comparable with data through April 1954. 2 Price for screenings for industrial use, to industrial consumers; not
comparable with data through April 1954. Beginning January 1954, jet fuel (formerly included with gasoline, kerosene, and distillate fuel oil) is excluded. Jet fuel for October 1954 (thous.
bbl.): Production—from gasoline, 2,751; from kerosene, 926; from distillate, 331; domestic demand, 4,444; stocks, 2,920.
cfRevisions for January-September 1952 and January-October 1953 will be shown later.
f Revised series. Data represent weighted averages based on quotations in 26 cities for all sizes of bituminous coal.
9Includes nonmarketable catalyst coke. Such production for January-October 1954 is as follows (thous. short tons): 156; 122; 139; 138; 130; 143; 186; 176; 164; 172.
t Revisions for 1952 appear on p. S-35 of the February and March 1954 issues of the SURVEY.
§ Revised to represent all quantities of fuel oil and diesel fuel purchased by class I railways (incl. switching and terminal companies), whether for locomotive, station, shop, or other use.
Comparable data prior to August 1953 will be shown later.
SURVEY OF CURRENT BUSINESS
S-36
January 19-r>:
1954
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January
February
March
April
June
May
July
DecemOctober NovemAugust September
ber
ber
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products — Continued
Lubricants:
Production
thous. of bbl
Domestic demand t
do
Stocks, refinery, end of month
do
Exports
...-do .
Price, wholesale, bright stock (midcontinent,
f o b Tulsa)
dol per gal
Motor fuel:
Gasoline (including aviation) :
Production, total 9
thous. of bbl
Gasoline and naphtha from crude oil 9
thous. of bbl ..
Natural gasoline used at refineries
do
Natural gasoline sold to jobbers 9
- do _
Domestic demand 9
Stocks, end of month:
Finished gasoline
At refineries
Unfinished gasoline
Natural gasoline and allied products
do
9,846
1,184
4,572
3 041
10, 070
1, 193
4,408
2 994
10, 472
965
4,221
2 720
10, 646
1, 188
4,376
3 579
10, 385
1,002
4,204
3 321
9 745
1,456
4 566
3 208
9 764
1,281
4,508
3 189
9 599
1, 429
4,386
3 419
9 251
1,264
4,563
3 374
9,035
1,341
4,522
3,308
9,230
967
4,475
3, 285
9,183
1,180
.205
. 195
. 190
190
190
180
180
180
180
180
.180
.180
108, 623
112, 473
95, 722
10, 145
2,756
99, 525
9, 873
3, 075
99, 210
100, 225
1
1
106, 373
i 94, 336
9, 633
2,404
1
1
97, 330
1
i 85, 244
8,987
3,099
1
89, 852
1
1
104, 612
1
102, 120
1
191,851
9,240
3,521
1
90, 074
8,861
3,185
i 95, 241
9,441
3,270
101, 549
1
103, 866 i 104, 418
172, 207 173, 060
106, 821 i 104, 344
7, 743
8,237
10, 575
11,447
1
1
86, 206
1
1
1
107, 952
104, 481
i 91, 956
9 423
3,102
1
1
107 893
2,399
2,302
1,954
2,261
.113
.142
.221
.111
.141
.220
.111
.137
.218
.108
. 135
.216
7,074
6,120
10, 162
5,856
7,676
6,230
10, 172
5,498
7,245
6,156
10, 773
5,759
6,991
5,580
11, 099
5,380
7, 359
6,220
11,486
5,719
7,209
5,806
11,685
5,582
7, 567
6,569
12, 400
6,632
7,990
7, 157
10, 637
5,301
7 857
6, 393
10 984
5,472
5,181
6,244
3,888
7,314
3,447
8,370
3, 956
9,589
4, 895
10, 970
5, 392
11,530
6,888
11, 383
7,775
9,579
434
558
420
538
442
598
420
619
478
644
434
612
474
663
thous of squares
4,126
2,698
2,565
2,846
3 824
4 923
do
do
do
do
short tons
911
1,030
2,185
138
60, 241
596
661
1,441
107
48, 872
573
673
1,319
89
47, 989
637
670
1,540
94
93, 417
806
843
2,175
116
55, 760
1, 005
1,011
2,907
113
58, 865
_
_
163, 532
97, 997
8, 172
10, 334
1,235
.108
. 135
.216
168, 301
i 99, 155
8,705
12, 295
1,798
.108
. 135
.214
108, 250 i 105, 325
i 94, 798
10, 334
3,118
1
1
i> . 180
107, 167
92, 126 i 93,595
10,612
10, 487
2,712
2,960
113, 037 i 112,231 i 110, 223 i 104, 706 i 105, 607
T
151, 129
86, 761
8,820
10, 428
1
1
i 95, 092
9 828
2,973
142, 472
78, 021
8,275
12, 223
do
do
do
do
Exports (motor fuel, gasoline, jet fuel) §
do_ .
Prices, gasoline:
Wholesale, refinery (Oklahoma, group 3)
dol. per gal..
Wholesale, regular grade (N. Y)
do
Retail, service stations, 50 cities
_ -do
Aviation gasoline:
Production, total
thous. of bbl
100-octane and above _
_.do
Stocks total
do
100-octane and above .
do
Asphalt:©
Production
do
Stocks refinery, end of month
_ __do
Wax:O
Production
do
Stocks refinery end of month
do
Asphalt products, shipments:
Asphalt roofing total
Roll roofing and cap sheet:
Smooth surfaced
Mineral surfaced _ .
Shingles all types
Asphalt sidings
Saturated felts cf
4,553
3,211
168 660 i 156 526 i 149 045
i 96, 241 1 85, 569 i 79, 989
8 946
8 878
8 965
13, 871
14, 998
15, 703
1
144 615 1 142, 437
177,159 i 74, 786
8,479
8 553
15, 358
15,379
1
141,046
' 73, 571
8,615
15,868
2, 084
2,204
2,384
.105
. 125
.217
.105
.125
.213
.105
. 125
.213
7, 966
6, 272
9 899
5. 803
7,642
6,127
'r 9, 289
5. 420
7.924
6, 209
9,780
6,054
8 850
8,542
8 726
7,150
7, 999
5,912
7,413
5,702
409
609
433
597
408
571
453
567
450
572
5 374
6 484
5 251
6 029
7 062
6 088
5,108
1,021
1,076
3,277
114
76,110
1, 146
1, 309
4,029
151
89, 561
978
1,110
3,162
115
69, 903
1 139
1,324
3 566
147
73 797
1,349
1, 553
4,r 160
153
91,088
1, 233
1,319
3,537
144
73, 069
975
1,138
2, 996
125
70, 798
2,488
2 515
4 708
2,487
2 414
4,794
2,701
2 644
4,854
2,525
2 549
4,823
2, 275
2,712
.108
. 135
.218
.108
. 135
.216
2,341
.105
135
. 214
r
r
P . 105
P . 125
.213
PULP, PAPER, AND PRINTING
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
Consumption
Stocks, end of month
Waste paper:
Receipts
Consumption
Stocks end of month
2,367
2,380
5,582
2,220
2,157
5,639
2,393
2,387
5,639
2,388
2, 191
5, 835
2,292
2,473
5,672
2,OCO
2,371
5,288
2,035
2,457
4,867
2,308
2,475
4,699
2,304
2 266
4,737
682, 394
667, 762
452, 079
646, 134
620, 455
478, 791
620,217
648, 266
454, 246
628, 731
639, 813
443, 016
719,354
716,052
447 363
686, 600
668, 050
462 590
662, 742
672, 590
453 259
692, 151
696, 500
447 988
593 086
576, 537
466 326
670 672 r 671 957 rr 679 893 679 830
694, 972 683, 164 702, 283 675,713
440 130 419 126 r 414 339 418 447
1,503
63.116
830, 754
191,913
35, 442
189, 442
91,576
1,337
45,016
720, 957
184, 693
34, 343
191, 255
82, 766
1,487
59, 370
808, 709
201,593
38, 590
201,614
82, 246
1,362
61,837
735, 303
182,715
35,213
185, 446
76, 057
1 541
63, 338
832, 420
210,086
40, 182
209, 157
80, 987
1 484
56, 703
792, 919
199, 339
37, 841
200, 064
96, 615
1 574
60, 742
854, 198
204 781
39, 831
202, 487
107, 026
1,562
64, 784
841, 999
200, 217
40, 123
202, 546
108 715
1 416
55 302
743 809
182 706
27, 634
193 596
105 428
1 605
71 702
865 602
207 051
38 769
203 727
105 102
156, 634
43, 766
29, 492
3,298
25, 980
148, 629
41,252
32, 808
2,957
27, 298
155,081
42, 188
33, 457
3,754
28, 436
159, 946
44, 248
32, 363
3,657
29, 056
164, 003
44, 329
33, 262
3,608
29, 494
161,745
43,819
33, 020
3 388
29, 965
178,010
52, 093
37,351
4 373
30, 851
188, 667
53, 150
41, 138
4 873
28, 707
174,
51
33
4
26
177
49
33
4
25
thous. of cords (128 cu. ft.)._
do
___do
short tons
- __ _ do_
do
WOOD PULP
Production :
Total all grades
thous. of short tons
Dissolving and special alpha . _ - _ _ short tons
Sulphate (paper grades)
do
Sulphite (paper grades)
do
Soda
_ . _
_ _ _ _ _ _ - do Groundwood
_ __
_ do
Defibrated, exploded, etc
do
Stocks, own pulp at pulp mills, end of month:
Total a l l grades
_ _ _ _ _ short tons_
Sulphate (paper grades)
__do
Sulphite (paper grades) __
do _ Soda
- do
Groundwood
_ do _ _
Exports, all grades, total
Imports, all grades, totalcf
Dissolving and special alpha
Sulphated"
Sulphite (paper grades)
Soda
Groundwood
.
r
276
060
876
315
289
1 505 r I ggg
61 825
74* 840
802 452 921 247
195 329 208 075
31 '407
34' 620
200 111 r 210 356
104 055 109 301
846 •176 083
317
49 791
518
36 939
9 995
008
218
22' 749
do
17, 465
28, 965
14, 291
19, 675
26, 896
24, 229
34, 328
30, 680
59 623
44 894
do_. ..do
do
__do
do
_ do
174, 565
23, 345
62, 278
60, 649
3,328
23, 086
177, 164
17, 232
76, 627
57, 990
3,297
20, 862
144,813
16,210
60, 617
46, 507
3,048
16, 793
171,821
18, 302
74,031
54, 606
2,912
21,360
178, 770
20,451
76, 531
57, 522
3,502
19, 301
152, 845
22, 309
66, 210
45,513
2,555
15, 866
150, 868
17,823
63, 66C
47, 105
3,287
18, 710
192, 698
21,413
89, 151
60, 188
3,585
17, 043
163, 559
20 340
78, 867
43 738
2 477
17 670
172, 705
18 178
80 693
48 551
3 154
21 117
49 790
171
22
72
51
3
19
727
724
923
432
876
951
182 082
57 ?39
r 33' 384
2 777
91 251
1 635
75 558
891 867
199 166
35 442
203 790
107 980
195
61
42
2
20
286
184
645
760
875
44 131
174
16
83
51
3
18
891
881
849
624
201
548
PAPER AND PAPER PRODUCTS
All paper and paperboard mills:
Paper and paperboard production, total
2,164
2,023
2,043
thous. of short tons.2,272
2,186
2,186
2,238
2,303
1,991
2,288
1,012
1,014
1,074
1,066
Paper (in cl. building paper)
._. _do_-_
1,046
1,094
1,078
1,136
973
1 117
Paper board
_
_ do
923
1,031
916
996
1,041
986
1,030
1,045
891
1 040
109
95
Building board
do
101
106
133
127
132
126
130
126
r
l
Revised.
* Preliminary.
See note "3" on p. S-35.
J Revisions for 1952 appear on p. S-35 of the February and March 1954 issues of the SURVEY.
9 Revisions for 1952 (old basis) appear on p. S-36 of the February 1954 SURVEY; revisions for 1952 (comparable with data for 1953) will be shown later.
§ Revised effective with the October 1954 issue of the SURVEY to cover items indicated.
O Asphalt—5.5 bbl. = 1 short ton; wax—1 bbl. = 280 Ib.
cf Revisions for 1951 for saturated felts and 1952 for wood-pulp imports will be shown later.
r
2,214
1 090
993
131
r
2,367
1 150
1 077
r 14n
2,282
1 110
1 039
' 1 33
9
13
SUEVEY OF CUERENT BUSINESS
January 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-37
1954
January
February
March
April
May
June
July
DecemAugust SeptemOctober November
ber
ber
PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCTS— Continued
Paper, excl. building paper, newsprint, and paperboard (American Paper and Pulp Association) : t
Orders, new
short tons
Orders, unfilled, end of month
do
Production..
..
do.
Shipments
do
Stocks, end of month . . . _
_ _ do.- .
Fine paper:
Orders, new
do
Orders, unfilled, end of month.
do
Production
do
Shipments
._. .
do
Stocks, end of month
do
Printing paper:
Orders, new
_
_ do
Orders, unfilled, end of month
do
Production
do
Shipments _
do.
Stocks, end of month
_ do
Price, wholesale, book paper, "A" grade, English
finish, white, f. o. b. mill., dol. per 100 Ib
Coarse paper:
Orders, new .
_.
_ _ short tons
Orders unfilled, end of month
do
Production
_.
do
Shipments
do
Stocks, end of month
do
Newsprint:
Canada (incl. Newfoundland):
Production
_
do
Shipments from mills
do
Stocks, at mills, end of month
. do
United States:
Consumption by publishers
do _
Production
do
Shipments from mills...
__
- do
Stocks, end of month:
At mills
do
At publishers
."
do .
In transit to publishers
do
Imports
do
Price, rolls, contract, delivered to principal ports
dol. per short ton
Paperboard (National Paperboard Association):
Orders new
thous. of short tons
Orders unfilled end of month
do
Production, total
do
Percent of activity
- -Paper products:
Shipping containers, corrugated and solid fiber,
shipments!
mil SQ ft surface area
Folding paper boxes, value:
New orders
1947-49—100
Shipments
t
do
801,866
617, 679
857, 709
847, 182
401, 608
818, 131
589, 958
838, 559
834, 170
406, 868
875, 002
584, 558
883, 841
884,315
394, 618
800, 817
561, 091
832, 975
817, 427
406, 158
939, 598
592,116
927, 526
916, 598
412, 529
843, 494
547, 633
874, 583
878, 354
410, 021
841, 999
533, 638
866, 681
858, 755
417, 941
882, 399
540, 558
869, 849
872, 942
414, 271
814, 525
587, 819
758, 760
756, 126
410, 562
881 041
609, 967
888, 960
880, 206
421, 584
867 980
612, 394
861,099
856, 917
428, 204
895 000
607, 295
917, 000
911,000
431, 500
886 400
591 295
901,000
899, 400
418, 400
95, 228
52, 406
106, 106
100, 050
92, 554
96, 009
49, 334
104, 122
100, 360
99, 271
102, 345
56, 967
103, 041
106,930
92, 357
100, 984
58, 725
102, 297
101,987
93, 035
114, 482
57, 995
115, 847
110,927
95, 555
108, 483
57, 500
111, 501
109, 879
97, 819
108, 140
56, 305
110, 232
107, 488
99, 287
110,655
54, 190
113, 292
112, 059
100, 256
97, 310
64, 215
91, 363
91, 221
98, 804
106, 820
63, 587
112, 279
106, 813
104, 741
108, 552
63, 230
110, 331
107, 736
109 274
117,000
63, 000
118 000
114,000
111 000
111 000
51, 000
121 000
115, 000
106 000
274, 906
312, 937
296, 073
299, 811
160, 641
302, 577
311,864
289, 628
290, 655
159, 614
298, 488
291,065
306, 062
304, 212
161, 460
265, 291
268, 590
283, 994
279, 074
166, 420
342, 798
294, 740
322,188
323, 037
165, 570
279, 943
258, 238
303, 684
311, 678
157, 576
287, 338
249, 515
298, 138
300, 216
155, 498
320, 207
265, 175
299, 890
304, 524
149, 540
292, 019
292, 305
256, 760
255, 785
150, 515
297, 809
295, 870
308, 034
306, 948
151, 600
307, 601
302 427
299, 596
297, 900
153, 295
312, 000
298 000
315,000
314,000
154, 000
304 000
298 000
301 000
305, 000
150, 000
13.80
13.80
13.80
13.80
13.80
13.80
13.80
13.80
13.80
13.80
13.80
13.80
T> 13.80
268, 476
149, 353
290, 817
284, 222
81, 453
260, 949
121, 145
279, 291
281, 243
76, 356
293, 628
126, 855
297, 093
290, 916
85, 460
272, 375
127,052
278, 203
271, 865
86, 525
296, 475
124, 040
302, 944
297, 929
88, 295
276, 225
117,975
276, 575
277, 423
85, 870
273,217
112, 185
283, 596
278, 859
91, 116
278, 907
111,330
285, 178
279, 933
97, 445
265, 092
120, 685
252, 002
249, 880
95, 198
302, 502
140, 375
293, 602
289, 863
99, 898
283, 590
138, 597
280, 604
280, 946
99, 935
292, 000
139, 000
308, 000
308, 000
100, 000
293, 000
134 000
299, 000
299 000
97,000
473, 176
491, 450
126, 490
473, 325
488, 571
111,244
476, 151
452, 470
134, 925
457, 927
437, 780
155, 072
515, 4S2
481, 487
189, 067
5uO, 199
503, 292
185, 974
497, 221
497, 561
185, 634
490, 726
523, 966
152, 394
503, 979
481, 686
174, 687
503, 145
518, 844
158, 988
491, 153
482, 559
167, 582
525, 996
541, 835
151,743
522, 109
542 994
130, 858
427, 904
92, 385
90, 847
388, 237
89, 656
90, 240
363, 057
96, 284
95, 132
345, 642
88, 197
86, 219
400, 311
98, 115
100, 585
414, 877
89, 839
88, 968
422, 157
96, 670
98, 716
384, 444
96, 564
96, 148
338, 471
96, 324
96, 597
360, 825
99, 492
98, 503
388, 321
96, 592
98, 202
437, 191
110,328
107,407
420, 422
106 479
107, 920
8,610
464, 899
87, 468
412,574
8,026
477, 800
73, 969
449, 804
9,178
470, 536
88, 739
356, 455
11, 156
488, 503
96, 457
391, 503
8, 686
495, 871
85, 178
454, 297
9,557
484, 226
81, 181
399, 824
7,511
446, 739
72, 300
410, 631
7,927
453, 407
80, 566
438, 833
7,654
481, 612
71, 086
393, 102
8,643
508, 703
66, 199
434, 103
7,033
490, 256
64, 769
396, 943
9,954
448, 907
77, 057
451, 231
8 513
434, 131
88, 372
125. 75
125. 75
125.75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
1, 021. 4
385.7
1, 051. 0
94
1,011.2
392.4
992.2
79
885.4
330.8
939.7
89
921.7
321.0
926.8
89
1, 140. 4
424.9
1,064.4
90
997.4
369.1
1,014.6
88
1, 086. 6
364.2
1, 056. 5
90
1, 033. 1
359.8
1, 054. 6
89
964.3
390.3
916.8
74
1. 044. 0
330.7
1, 068. 5
92
1, 069. 0
428.8
1, 004. 1
88
1, 092. 4
390.5
1, 105. 7
94
6,730
6, 356
5,815
5,966
7,153
6,952
6,714
6,785
6,250
7,010
7,242
7,626
149.5
154.6
156.4
155.8
174.0
163.7
182.3
167.9
214.7
185.0
198.6
182.2
164.5
165.1
203.1
179.9
173.7
159 9
199.8
183.9
194.1
180 0
187.2
186.9
168 0
177 2
1,079
867
212
974
789
185
826
650
176
878
707
171
1,102
855
247
1,101
894
207
1,391
1,101
290
781
644
137
923
714
209
802
661
141
888
754
134
1,408
1,198
210
941
811
130
55, 970
115,970
49, 432
53 609
104, 461
125. 75 v 125 75
1, 078. 9
343 1
1, 102. 1
93
1,067.3
292.9
1,055. 1
82
PRINTING
Book publication, total
New books
New editions
number of editionsdo
- - do
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
long tons
Stocks end of month.
do
Imports including latex and guayulej
do
Price, wholesale, smoked sheets (New York)
dol. per Ib
Chemical (synthetic):
Production
- long tons
Consumption
do
Stocks end of month
_ _ do _
Exports
do
Reclaimed rubber:
Production
do
Consumption
do
Stocks end of month
do
43, 251
112, 677
49, 743
42, 400
112,316
45, 947
46, 960
112, 679
47, 140
46, 897
115, 228
42, 645
53, 709
112, 829
47, 721
51, 451
106, 564
49, 855
51, 398
104, 377
55, 983
54, 253
104, 541
66, 698
37, 894
109, 564
40, 614
38, 069
124, 810
59, 124
52, 412
119, 191
48, 618
.206
.209
.204
.200
.203
.214
.213
.231
.244
.231
.241
57, 221
52, 670
166, 523
2,359
59, 373
50, 902
175, 845
2,643
57, 299
50, 173
180, 839
1,397
53, 356
49, 060
183, 405
2,103
55, 835
56, 060
184, 284
2,923
47, 581
53, 654
174, 983
2,358
46, 554
52, 628
167, 583
2,759
45, 954
57, 195
157, 172
2,032
46, 964
41, 552
162, 944
3,228
48, 807
42, 051
170, 159
3,018
51, 384
53, 878
161, 662
2,161
21,191
19,638
31, 226
21, 208
18, 858
32, 319
19, 960
19,114
31, 865
21, 000
19,461
32, 393
23, 305
22, 882
32, 148
21, 628
21, 883
31. 359
21,184
20, 536
31, 105
22, 207
22, 321
30, 845
17, 907
16, 301
31,304
15,444
17, 660
27, 692
22, 332
19, 926
29, 632
6, 567
5,081
2,218
2,728
135
14, 854
132
6,482
5,663
2,617
2,902
143
15, 706
137
6,299
7,002
2,891
3,993
118
14, 977
106
7,042
6,308
2,634
3,557
117
15, 709
119
7,981
7,629
3,163
4,350
116
16, 077
80
8,065
8,243
3,131
4, 935
176
15, 906
178
7,965
8,319
3,020
5,115
184
15, 504
193
8,796
9,079
2,890
6,029
160
15, 218
167
6,360
8,885
2,782
5,949
155
12, 640
136
5, 427
8,080
2,527
5,429
123
9,985
116
4,742
4,003
11,611
70
4,537
4,622
11, 874
68
5,395
6,834
10, 107
50
5,896
5,617
10, 448
61
6,399
6,013
10, 869
49
6, 266
6,001
11,234
89
5, 909
6,002
11, 170
104
5,739
6,631
10, 379
68
4,132
6,257
8,429
67
3,773
5, 748
6,588
73
T
T
r
. 265
55, 644
r
58, 309
r
161,167
3,294
r
.288
55, 018
56, 836
157, 316
23, 444
r 22, 098
30, 395
22, 378
22, 073
29, 822
7,279
6,269
1,601
4, 537
130
11, 184
131
7,869
6, 266
1, 8!\8
4,251
147
12, 799
120
7,626
6,841
3,124
3, 559
158
13, 676
4,490
4,034
7,179
65
3,953
3,087
8,313
62
3,246
2,681
8,702
r
TIRES AND TUBES
Pneumatic casings: cf
Production
Shipments total
Original equipment
Replacement equipment
Export
Stocks end of month
Exports
-.
\uner tubes: cf1
Production
Shipments
Stocks end of month
._
Exports
-
-
-
r
thousands
do _
do
- - do
do
.
do
do _ -
do
do
do
do
Revised.
» Preliminary.
$ Revisions for 1947-April 1953 for paper will be shown later; data prior to 1947 for unfilled orders and stocks of paper are on a different basis from revised figures, hence not comparable.
Revisions for January 1952-Febmary 1953 for shipping containers and for various months in 1952 for rubber imports appear in the May 1954 SURVEY.
& Data for production, shipments, and stocks have been revised beginning January 1953. Revisions prior to June 1953 are available upon request.
SUKVEY OF CURRENT BUSINESS
S-38
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 195
1954
January
February
March
April
May
June
July
August
Septem- October Novem- Decem
ber
ber
ber
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments
reams. _
167,782
187, 434
166, 452
158, 773
179, 124
163, 553
162, 256
177, 518
142, 262
151, 217
22, 529
97
19, 494
13, 083
4,022
20, 243
84
14, 130
19, 231
5,349
17, 769
74
11, 143
25, 869
8,240
16 895
78
15 202
27, 562
10, 091
20, 097
83
18, 751
28, 905
11 925
21 730
93
23 589
27, 045
11 681
23, 279
96
24 911
25, 412
10 392
22 802
97
28, 632
19, 609
8 585
25, 467
102
27, 628
17, 451
7,203
25 681
103
28 802
14, 403
6 029
496, 810
474, 163
456, 985
380, 495
377, 536
294, 766
376, 203
382, 387
473, 662
460, 448
514, 238
532, 442
522, 589
527, 964
554 413
588, 209
537, 984
573, 536
173, 046 ^ 169, 267
167, 960
PORTLAND CEMENT
Production
Percent of capacity __
Shipments
Stocks, finished, end of month _.
Stocks, clinker, end of month
thous. of bbl
_
thous. of bbl
_ _
do
do
T
25 549
106
29 062
10,
901
r
4 720
25 887
104
27, 133
r
9, 660
3 806
576 185
589, 340
561 190
571, 103
r
r
23 841
99
22 781
10, 700
CLAY PRODUCTS
Brick, un glazed:
Production |
thous. of standard brick
Shipments t
_
. _ _ do _
Price, wholesale, common, composite, f. o. b.
plant
_ _
_ _
dol. per thous
Clay sewer pipe, vitrified:!
Production __
_
short tons
Shipments
_
do
Structural tile, unglazed:t
Production
_.
_
do_
Shipments
do
582 952
586 532
28. 147
28. 147
28. 033
28. 033
28. 033
28. 151
28. 151
28. 151
28. 193
28. 289
28. 382
136, 317
124, 789
132, 725
95, 623
118, 054
84, 965
123, 951
100 596
145, 251
129 280
138, 364
143 050
136, 696
139, 563
151, 249
150 497
135, 475
153 426
148, 594
162 363
156, 115
157 590
148, 169
153 246
83, 608
74, 672
76, 844
62, 907
67, 871
55, 146
72, 370
64 521
81, 025
77, 972
83, 21 1
80 703
83, 272
81, 331
86, 670
83 562
83, 890
78 663
84 626
80 906
81, 278
77 095
81, 367
79 160
10, 094
9,298
9,328
9, 765
10, 009
8,820
9,748
8,455
11, 200
11, 923
10, 751
9,291
11, 548
10, 839
11 219
10, 958
10 810
9,878
11 386
11 018
9 883
10 634
10 843
10, 079
28. 382 •p 28 429
GLASS PRODUCTS
Glass containers:
Production
thous. of gross
Shipments, domestic, total
_ ._
_ do
General-use food:
Narrow-neck food
_ _
do
Wide-mouth food (incl. packers' tumblers,
jelly glasses, and fruit jars)-- thous. of gross
Beverage (returnable and nonreturnable)
thous. of grossBeer bottles.
_
__
_ _ do
Liquor and wine
do
Medicinal and toilet .
_ do
Chemical, household and industrial
do
Dairy products.
_
_
__ do - _
Stocks, end of month
do
Other glassware, machine-made:
Tumblers:
Production
thous. of dozensShipments
do
Stocks __
_ _ _ _ _ _
_ - _do Table, kitchen, and householdware, shipments
thous. of dozens-
9 252
9 164
758
749
805
779
1,364
1,145
1,365
1,037
925
1 098
1,511
1, 121
829
2,582
2,649
2,843
2,593
3,392
2,519
2,869
2,803
2,948
3,724
3,211
3,033
2,670
704
573
1,366
2,296
746
273
1,139
727
1,019
2,305
744
433
347
514
937
2,262
878
234
350
549
913
2,175
930
166
600
916
1,358
3,013
1,096
184
776
817
923
1,985
933
193
1,003
1,168
1,051
2,255
932
196
1,268
1,234
1 033
2,398
971
214
912
1,133
856
2,039
848
217
525
900
950
2 512
1 023
286
343
677
1 165
2,412
1 012
303
325
586
1 408
2,360
1 003
243
310
561
1 304
2,301
944
245
11, 633
10, 932
11, 520
12, 563
11 991
13, 099
13, 745
13 708
14 329
14 360
13 299
13 684
13 423
4,635
3 986
10, 716
4,124
3 914
10, 184
5,180
4 399
10, 356
5,355
5 064
9,980
6,067
5 654
10, 272
6, 075
6 152
9,852
5,651
6 225
9,' 297
4,963
5 399
8,850
3,943
4 616
8,751
5,131
5 213
8,652
5,122
4 768
9,036
5, 780
6 270
8, 535
5,489
4 888
9,181
3,015
2,444
2,750
3,122
3,802
3,148
2,987
2,827
2,606
2,966
3,503
4,175
3,180
14, 121
14, 588
11 655
440
4, 380
1 456
352
4,224
1 576
324
4,032
1, 650
1,552
1,600
M35
1
395
408
352
360
336
GYPSUM AND PRODUCTS
Crude gypsum, quarterly total:
Imports
thous of short tons
Production
do
Calcined, production, quarterly total.
-do
Gypsum products sold or used, quarterly total:
Uncalcined
short tons
Calcined:
For building uses:
Base-coat plasters
do
Keene's cement
do
All other building plasters
do
Lath
thous. of sq. ft
Tile
do
Wallboardc?1
do
Industrial plasters
short tons
737
2,139
1,789
501
1,854
1,690
881
2,051
1,920
1 140
2,381
2,070
r 692, 260
547, 398
687 950
733 922
409, 354
r 10, 968
r 26, 489
' 602, 239
7,437
r 948. 798
61,008
372, 016
10, 909
193,391
517,846
6,710
935, 205
64, 018
437 736
12, 251
224 711
634, 857
7 668
1, 044, 226
62, 087
493 276
13, 984
266 419
688, 526
8 335
1,070 718
60 138
TEXTILE PRODUCTS
APPAREL
Hosiery, shipments
thous. of dozen pairs. _
Men's apparel, cuttings:* \
Tailored garments:
Suits
thous. of units
Overcoats and topcoats
do
Trousers (separate), dress and sport.
__ do
Shirts (woven fabrics) , dress and sport
thous. of doz
Work clothing:
Dungarees and waistband overalls _ _ __do _
Shirts
do
13, 555
3 r 1, 557
3 ^349
3, 929
3 r
3 r 1, 604
11, 924
' i 1, 825
••1287
'14,114
r
M,639
3 '285
rl
3r362
'1365
240
12, 675
2
2
2
13,126
1,840
2256
4, 512
1,732
276
4,848
1,520
1,668
2
256
2372
348
392
14, 274
1
1
1
12, 628
10, 844
12, 215
10, 724
13, 790
1,810
1
295
5, 520
1,412
320
4,800
1,524
392
4,464
1
1,630
1
510
i 4, 440
944
280
3,120
1 660
480
3,840
1,850
1,692
1,476
1
1,430
1,184
1,432
1355
1
445
384
360
340
356
*345
!385
288
276
392
364
15, 120
1
1
1
Women's, misses', juniors' outerwear, cuttings (quarterly through 1953) :*
2
3 r 3 5,827
2, 200
2,442
1,542
771
3,187
1,650
2,751
Coats
thous. of units
2,217
2,269
2.452
2,463
2
19, 332
' 56, 026
20, 356
24,465
21,091
26, 870
26, 720
20, 429
16, 577
17, 593
18,511
17, 157
Dresses
-do
2
1,639
3 ^ 3 044
1
774
475
1
843
747
971
1
203
1
257
874
738
Suits
do
1 158
2
3 r 3, 205
1,152
1,249
1,432
1,036
Waists, blouses, and shirts
thous. of doz. _ _
1,189
1,150
1,200
1,073
1,234
1,140
1,170
T
2
Revised.
» Preliminary.
1 Data cover a 5-week period.
See note marked "*" for change in sample coverage beginning January 1954. 3 Revisions for earlier periods of 1953 ar
shown at the bottom of p. S-39.
{Revisions for 1952 are shown in the August 1953 SURVEY.
o"Includes laminated board (reported as component board) also sheathing and formboai <
*New series. Compiled by the U. S. Department of Commerce, Bureau of the Census. Data are estimated industry totals derived as follows: Men's apparel—estimates beginning Jam
ary 1954 are based on a monthly sample survey of manufacturers, accounting for approximately 75 percent of the total 1952 production; data prior to 1954 are based on a sample covering estat
lishments that accounted for about 90 percent of the total 1951 cuttings of these items. Women's outerwear—based on reports from establishments classified in the women's principal outerwes
industries for the specified items; monthly data beginning January 1954 are estimated from reports of producers that account for approximately 75 percent of total output; quarterly estimate
prior to 1954 are based on reports from 2,500 establishments accounting for about 90 percent of total shipments in 1951. Cuttings for 1950 and 1951 will be shown later; data for 1952 (excep
men's dungarees, etc.) are shown at bottom of p. S-38 of the December 1953 SURVEY, Cuttings of men's dungarees and waistband overalls for January-December 1952 and January 1954 af
pear in the April 1954 SURVEY.
or December 1953 and March, June, and September 1954 cover 5-week periods and for other months, 4 weeks.
SURVEY OF CURRENT BUSINESS
January 1955
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
S-39
1954
January
February
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
TEXTILE PRODUCTS—Continued
COTTON
Cotton (exclusive of linters):
Production:
Ginnings§
thous. of running bales.
Crop estimate, equivalent 500-lb. bales
thous. of bales .
Consumption! _
.
_ _
bales
Stocks in the United States, end of month,
totalf
thous. of bales
Domestic cotton, total
_
do
On farms and in transit
. do
Public storage and compresses
do
Consuming establishments
_
_ _ do
Foreign cotton, total
do
Exports
___ _
bales
Imports 9
do
Prices (farm), American upland l5 __
cents per Ib
rr
Prices, wholesale, middling, /i6 , average 10
markets
_ _
cents per Ib
Cotton linters :^
Consumption
. _ __ thous. of bales
Production
do
Stocks end of month
do
r
14,27
T
!5, 16
2
* 16, 11
16, 31
38
1,69
5,69
9,67
12 439
667, 44
757, 15
678 82
684, 36
2 16, 46
6
845 03
781 76
542 57
s 815 31
706 60
703 697
16 69
16 62
3,05
11 92
1,64
6
15 72
15 66
1,90
12 05
1,70
6
14 67
14 61
1,36
11 46
1,78
6
13 41
13 34
1,08
10 49
1 76
6
12 36
12 28
90
9 69
1 68
11 397
11 31f
868
8 907
1 54
81
10 18
10 11
60
8 15
1 35
7
9 57
9 50
25
8 07
1,17
7
20 12
20 04
10, 760
8 30
98
7
19 72
19 65
7,71
10 86
1,06
19 43
19 36
5,28
12 73
1 34
6
18 820
18 761
3 441
13 803
1 517
59
242, 848
8 510
31.8
375, 03
11 070
30.
296, 65
6 50
30
385, 42
12 86
30.4
429 659
16 258
31
422 04
24 16
31 6
336 120
11 679
32 2
434 93
8 17
32.3
227, 85
8 719
32.2
189, 58
9 94
34.0
199, 322
6 538
34.6
350 75
6 63
34
32.7
32.6
33.2
34.0
34 2
34 2
34 4
34.2
34.4
34.2
34.5
'110
240
l 292
6111
113
222
1 428
95
197
1 457
599
s 189
1 542
105
150
1 590
108
115
1 637
5113
5221
1 376
96
64
1 546
112
82
1 52-
46, 093
7,193
2, 558
49, 493
6,306
45, 560
4,777
50, 457
4,597
2,51?
44, 540
3 988
64 206
6 242
47, 243
4 730
' 2, 454
48, 282
49, 818
4,355
4,202
29 59
36.9
16.5
17.5
29 13
34.9
15.9
17.5
28 56
34 9
16.0
17 3
27 18
34.9
15.8
16.8
26 84
34 9
15.4
16 8
26 75
34 9
15 4
16 5
26 28
34 9
15 3
16 3
26 50
34.9
15.4
16.3
.636
.939
.630
.927
.625
.921
630
.921
632
921
630
921
627
917
21, 252
19, 990
20, 933
19, 695
20 897
19, 652
20 888
19, 656
20 872
19 626
20 715
19 457
20 627
19 325
8
684, 97
r
r
17 79
17, 72
r
4,98
r
l l 19
1,54
r
T
660 209
5
645 87
34 3
6
r
13 039
* 13 569
33 2
32 7
33 9
34 1
100
H77
1 58"
11
224
1 666
47,160
5,110
2, 304
50, 809
7,622
55 821
6 907
26.48
34.7
15.8
16.3
26.51
35.9
16.3
16.4
26.00
35.9
16.5
16.4
26 60
35 9
16.5
16 5
26 80
P 35 9
P 16 3
P 16 6
.633
.921
.636
.917
.633
.917
.633
.919
' .642
.931
P 638
P 931
20, 646
19, 332
20, 606
19, 286
20, 633
19, 306
20, 634
19, 276
20, 696
19, 295
20 782
19 348
10 939
447
10,
216
6
122. 8
7,066
372
6,578
102.4
9,171
459
8,583
126.2
« 11, 222
458
5 10, 455
5 126. 0
9 735
493
9,042
136.3
9 464
'485
8 768
134 6
584
1 589
3
117
214
1 763
COTTON MANUFACTURES
Cotton cloth:
Cotton broad-woven goods over 12 inches in width,
production, quarterly c?
mil. of linear yards
Exports
thous. of sq. y d _ _
Imports 9 - do
Prices, wholesale:
Mill margins
cents per Ib
Denim, 28-inch
_ _
cents per yd
Print cloth, 39-inch, 68 x 72
do
Sheeting, in grav, 40-inch, 48 x 44-48
do
Cotton yarn, natural stock, on cones or tubes:
Prices, wholesale, f. o. b. mill:
20/2, carded, weaving
dol. perlb
36/2, combed, knitting..
do
Spindle activity (cotton system spindles) :f
Active spindles, last working day, total
Consuming 100 percent cotton
.
Spindle hours operated, all fibers, total
Average per working day
Consuming 100 percent cotton
Operations as percent of capacity.
thous
___ do _
mil. of hr
__ do
do
.__
6
6
9 231 5 11 454
469
458
8,697 5 510 799
125 3
128.1
10 246
436
9 683
6 118. 8
9 145
457
8 631
124 7
62 9
25 5
53 9
21 9
55 9
24 3
55 5
24 1
71 3
29.9
2 277
77 2
32.7
1 775
78 6
33.1
1 215
75 9
30.9
1 691
780
.336
.780
.336
78C
.336
780
.336
9 232
474
8 719
129.1
5
5
r
8 991
457
8 475
125 3
8 932
'447
8 366
122 6
60 8
29 2
60 5
28 9
58 4
32 1
57.8
35 7
53.1
32.1
53.2
35.8
'62.0
r
32.4
64.2
32.4
66.9
33.5
75 4
28.3
2 264
69 8
28.3
3 509
68 5
27.9
2 178
67.0
28.0
3 106
70.2
29.0
2 940
73.2
30.1
5,785
64.8
'30.3
7,536
'61.4
33.2
8,300
59.3
33.5
780
336
780
336
780
336
.780
.336
.780
.336
.780
.336
.780
.336
.780
.336
* . 780
p . 336
5
26 50
RAYON AND ACETATE AND MFRS.
Filament yarn and staple:
Shipments, domestic, producers':
Filament yarn. _ _
mil. oflb
Staple (incl. tow)
do
Stocks, producers', end of month:
Filament yarn
do
Staple (incl. tow)
_ _ do
Imports
thous oflb
Prices, wholesale:
Yarn, viscose, 150 denier, filament, f. o. b. shipping
point
dol per Ib
Staple, viscose, 1^2 denier
do
Rayon and acetate broad-woven goods, production,
quarterly cf
thous of linear yards
6
r
402 378
422 167
406, 017
383 248
SILK
Silk, raw:
Imports
thous oflb
Price, wholesale, white, Japanese, 20/22 denier, 87%
(AA), f. o. b. warehouse
..dol. per Ib
414
521
465
449
366
1 051
671
843
654
890
567
814
5.27
5.43
5.58
5.39
5.23
5.07
5.03
4.53
4.55
4.68
4.83
4.75
20 590
10, 685
18 653
9,840
19, 737
9,788
e 24 520
11, 738
21 735
9,237
23 040
8,319
6
28, 084
9, 286
21, 301
5,903
23, 760
9, 253
16 351
8 119
12, 889
8 182
17, 147
9 367
14, 277
7 154
17 823
10 576
22, 067
10 768
19, 868
10 458
21, 603
12 385
19,012
8 989
18, 478
9 401
17, 757
8,085
17, 003
8,317
1.725
1.204
1. 725
1.205
1.725
1.205
1.725
1.196
1.675
1.122
1.688
1.160
1.731
1.184
1.767
1.187
1.756
1.166
1.762
1.211
1.771
1.220
1.712
1.196
1.600
1.075
1. 560
1.135
1.780
1.779
1.775
1.775
1.725
1.725
1.725
1.725
1.725
1.725
1.725
1.725
1.675
1.625
"4.78
WOOL
Consumption, mill (clean basis) :HJ
Apparel class
Carpet class
thous oflb
do
Imports clean content 9
do
Apparel class (dutiable) clean content*
do
Prices, wholesale, raw, Boston:
Territory, 64s, 70s, 80s, clean basis
dol. perlb_Bright fleece, 56s-58s, clean basis
_ _ _ _ _ do
Australian, 64s, 70s, good topmaking, clean basis, in
bond
dol. perlb..
r
6
l
18 868
9,032
2
5
6
5
3
5
4
5
5
24, 813
11,578
8
r
20, 048
19, 016
' 9, 502 9,172
Revised.
P Preliminary.
Ginnings to January 16. Total ginnings of 1953 crop.
Ginnings to December 13. December 1 crop estimate.
Data cover a 5-week period.
Data cover a 14-week period; other data are for 13 weeks.
§ Total ginnings to end of month indicated.
JData for December 1953 and March, June, and September 1954 cover 5-week periods and for other months, 4 weeks; stocks and number of active spindles are for end of period covered.
9 Revisions for 1952 appear in corresponding note in April 1954 SURVEY.
*New series. Imports of wool are compiled by the U. S. Department of Commerce, Bureau of the Census; dutiable wool covers essentially the apparel class; data prior to April 1952 will be
hown later.
JRevisions for 1952 are shown in the August 1953 SURVEY.
cTRevisions for broad-woven goods for first and second quarters of 1952 are shown in the October 1953 SURVEY.
NOTE FOR MEN'S AND WOMEN'S APPAREL CUTTINGS, p. S-38. Revisions for 1953 (units as shown): Men's apparel—January-October—suits, 2,109; 1,979; 2,033; 2,207; 1,834;
1,758; 1,276; 1,703; 1,502; 1,882; overcoats, 399; 339; 352; 525; 563; 619; 459; 656; 566; 580; trousers,5,268; 5,046; 5,455; 6,079; 5,257; 4,705; 3,596; 4,075; 3,965; 4,778; shirts (woven fabrics), 2,122;<1,996: 2,073;
2,425; 1,909; 1,773; 1,601; 1,569; 1,710; 1,941; dungarees, 382; 373; 415; 455; 378; 407; 385; 380; 406; 451; shirts (work), 483; 424; 474; 534; 429; 420; 384; 451; 424; 446; women's, misses', etc—lst-3d
quarters—coats, 7,844; 3,784; 6,578; dresses, 70,575; 77,212; 55,499; suits, 5,609; 2,566; 3,045; waists, etc.,3,912; 2,967; 3,218.
SUKVEY OF CURRENT BUSINESS
S-40
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber
January 1955
1954
January
February
March
April
June
May
July
August
Septem- October Novem- December
ber
ber
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, Bradford system,
wholesale price
dol per Ib
Woolen and worsted woven goods, except woven
felts:}
Production, quarterly, total thous. of lin. yd
Apparel fabrics, total
do
Government orders -.
do _
Other than Government orders, total
do
Men's and boys'
do - _
Women's and children's
_._ _
_ _ do
Nonapparel fabrics, total- _
_do. _
Blanketing
do
Other nonapparel fabrics
do
Prices, wholesale, suiting, f. o. b. mill:
Flannel, 12-13 oz./yd., 57"760"
1947-49=100-Gabardine, 10J6-12K oz /yd 56"/58"
do
2.098
2.098
2 073
2 037
i 70, 885
62, 810
U, 116
1
58, 694
1
27, 820
1
30, 874
1
1
1
1
112.9
103.6
8, 075
5, 717
2, 358
112.9
103.6
112.9
103. 6
111.5
103.6
2 025
2 037
2 037
2 043
2 043
2 037
2 037
62, 738
54 835
958
53, 877
26, 461
27, 416
69, 440
63 559
570
62 989
30, 078
32,911
72, 662
67 736
456
67 280
28, 103
39, 177
7,903
4,455
3,448
5,881
3,346
2,535
4,926
2 949
1,977
112.1
103.6
112.1
102.6
112.1
103 6
r
2 013
p 1 998
112.9
103 6
112.9
103 6
112.9
103 6
112 9
103 6
Mil. 6
103.6
112.4
103 6
288
TRANSPORTATION EQUIPMENT
AIRCRAFT
Civil aircraft, shipments
Exports?
-.-
__ .
number. do.__
275
136
250
105
278
92
240
65
312
106
359
116
309
95
316
67
293
105
264
68
265
84
174
61
number..
do
do
-do _
do
do. __
do
452, 987
371
288
378, 906
370,511
73, 710
64,781
484, 707
424
393
389, 628
373, 666
94, 655
80, 227
551,134
405
365
454, 562
435, 139
96, 167
83, 563
534, 145
328
322
446, 676
425, 392
87, 141
72, 468
633, 003
297
289
531,529
510, 024
101,177
85,154
631, 769
379
348
534, 667
515,192
96, 723
79, 439
588, 562
274
251
497, 062
478, 889
91,226
73,712
598, 876
351
349
507, 055
489, 994
91,470
74, 250
530 416
246
190
451, 663
437, 028
78, 507
62, 161
521 450
309
306
445, 306
431 371
75, 835
60 263
369 942
326
314
300, 998
292 721
68, 618
50 845
287, 557
397
385
221,195
214, 913
65, 965
48, 793
23, 604
10, 196
13, 408
21, 578
10, 884
10, 694
29, 700
16,448
13, 252
31,433
18,195
13, 238
21,685
12,177
9,508
45, 725
24, 836
20, 889
37, 479
18,296
19, 183
30,254
14, 697
15, 557
29, 154
13, 210
15, 944
26, 794
11 519
15 275
26, 645
9 556
17, 089
22, 224
6,357
15, 867
do
do
do
do
do
7,796
7,603
2,539
5,064
193
5,592
5,196
2,316
2,880
396
4,724
4,585
1,899
2 686
139
4,667
4,502
1,767
2, 735
165
5,000
4,741
1,879
2,862
259
4,746
4,535
1,865
2,670
211
4,844
4,638
1,934
2,704
206
5,258
4,987
2,479
2,508
271
3,686
3 465
1,858
1 607
221
3 899
3 740
2 052
1 688
159
4 271
4 105
2*256
1 849
166
4,521
4,356
2,551
1,805
165
4,830
4 697
2,776
1 921
133
do
do
450,311
72, 596
413, 937
68, 659
340, 698
60,694
369, 592
60,843
480, 731
72, 583
508, 102
75, 332
520, 958
78, 209
596, 719
85, 858
474 316
65 181
440 312
64 180
407 844 r 395, 943
71, 254
66 174
381 081
64 652
6,574
4, 173
3,912
2,401
4,752
3, 169
2,873
1,583
5,101
3,815
3,658
1,286
4,041
3,014
2.947
1,027
4,826
3,796
3,793
1,030
4, 195
3,138
2,981
1,057
3,658
2,513
2,028
1,145
2,683
1,263
1,230
1,420
2,051
955
705
1,096
2,450
990
837
1,460
2 958
1,600
1 208
1,358
2,348
1,338
807
1,010
1,770
1,085
617
685
736
422
44
44
712
398
07
26
686
384
29
17
690
405
40
22
636
374
59
36
572
330
64
44
541
314
41
26
500
285
44
30
502
316
65
34
450
291
52
25
587
448
42
22
563
434
38
25
514
405
54
34
1,777
1, 776
1,777
1,775
1,773
1,771
1,768
1,764
1,757
1,753
1,750
1,745
1,739
92
5 2
30, 703
13,911
16, 792
88
4 9
27, 678
12, 256
15, 422
91
5 1
23, 537
9, 153
14, 384
94
5 3
20, 548
6,784
13, 764
98
5 6
16, 896
4,068
12, 828
104
58
13, 964
2,132
11,832
112
6 3
12, 169
1,214
10, 955
116
6 6
11, 429
1,793
9,636
118
6 7
10, 334
1,731
8,603
122
6 9
11,016
3,911
7,105
126
7 2
10, 232
4,403
5,829
123
7.0
11, 785
4,952
6,833
120
6 9
13, 639
6,581
7,058
1,222
10 2
1,232
10 5
1,215
10 6
1,210
10 8
1,222
11 2
1,169
11 1
1,180
11 4
1,117
11 1
1,081
11 0
1,102
11 4
1,233
13 1
1,237
13.5
1, 226
13 9
267
MOTOR VEHICLES
Factory sales, total
Coaches, total
Domestic Passenger cars, total. __
Domestic
Trucks, total
Domestic
_
Exports, total?
Passenger cars 9
Trucks and busses 9
Truck trailers, production, total
Complete trailerscT
Vans
All other d"
Trailer chassis
_ _
do __
do
do ._
_
Kegistrations:
New passenger cars. . _
New commercial cars
587, 785
305
251
498, 248 » 2 642,000
477, 927 2
89, 232 p 94, 200
72, 862
RAILWAY EQUIPMENT
American Railway Car Institute:
Freight cars:
Shipments, total
Equipment manufacturers, total
Domestic
Railroad shops, domestic _ _
number
-do ._
do
-do .__
Passenger cars, equipment manufacturers:®
Orders unfilled, end of month, total*
_.do
Domestic
do
Shipments total
do
Domestic
_
do
Association of American Railroads:
Freight cars (class I), end of month :§
Number owned
thousands
Undergoing or awaiting classified repairs
thousands ..
Percent of total ownership
Orders, unfilled
number
Equipment manufacturers
_ do
Railroad shops
do
Locomotives (class I), end of month:
Steam, undergoing or awaiting classified repairs
number
Percent of total on line
Diesel-electric and electric: Orders, unfilled
number of power units
659
571
486
521
365
300
170
124
133
99
115
158
number
63
46
37
33
26
57
46
36
42
34
39
32
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
number
do .
do
677
632
45
673
630
43
523
485
38
467
437
30
473
448
25
366
344
22
445
417
28
445
389
56
413
368
45
357
278
79
357
319
38
348
318
30
Exports of locomotives, totalU
Shipments, total
Domestic.
Export
359
304
55
r
2
Revised.
» Preliminary.
1 Data cover a 14-week period; other data, 13 weeks.
Preliminary estimate of production based on Ward's Automotive Reports. Production for preceding month: 508,500 passenger cars; 90,700 trucks.
{Revisions for 1952 are shown in the August 1953 SURVEY.
9 Data exclude all military-type exports. Scattered monthly revisions for 1952 for motor vehicles will be shown later.
(^Revised beginning 1952 to include production of converter dollies; data as revised are comparable with figures through 1951 shown in the 1953 issue of BUSINESS STATISTICS. Revision
for January-September 1952 are shown in the December 1953 SURVEY.
©Excludes railroad shops except when noted.
*New series; monthly data prior to 1953 will be shown later.
§Not including railroad-owned private refrigerator cars.
^Revised exports for May 1952, 41 locomotives.
B. 3. G O V E R N M E N T P R I N T I N G OFFICE: 1955
4NDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
Abrasive paper and doth (coated)
38
Acids
24
rf_;
Advertising
-__,..». .„.,_,*;_.
8
Agricultural eraplojytnent.L
11
Agricultural Jaatia^nd foreign trade
16,17,21,22
Aircraft and:patts.....
.
2,11,12,14,15,40
Airline operations. .... !.«.
23
Alcohol, denatured and ethyl
24
Alcoholic beverages
2, 6,8, 27
Aluminum
,
,
33
Animal fats, greases, and oils
25
Anthracite
11,13,14,15,34
Apparel
2,3,4,5,6, 8f 9,10,12,13,14,15, 38
Asphalt and asphalt products
36
Automobiles
2, $,8,9,11,12,14,15, 16, 22,40
Bakery product!.
2,12,13,14,15
Balance of payments
. 21
Banking
14,16
Barley
28
Barrels and drums
.
32
Battery shipments
34
Beef and veal
29
Beverage*
2,4, 6, 8,12,13,14,15, 27
Bituminous coal
11,13,14,15,35
Blast furnaces, steelworks, etc
11,12,14,15
Blowers and fans.
34
Bonds, istueev prices, sales, yields
19, 20
Book publication
37
Brass
_-_
33
Brick
-*
38
Broker*'loans and balances..
16,19
Building and construction materials. _
8,9,10
Building costs
.......
- 7,8
Business incorporations, new
_-___
5
Business sale* ana inventories
3
Butter....
...„..._.
_
27
Cans (metal), closures, crowns
33
Carloading*.-..-.-,
... 23
Cattle and calves
*
29
Cement and concrete products
-- 6,38
Cereals and bakery products.
- 6,12,13,14,15
Chain-store sales (11 it or eg and over only)
10
Cheese
27
Chemicals
2,3,4,6,12,13,14,15,18, 22, 24
Cigarettes and cigars
— 6, 30
Civilian employees, Federal. 12
Clay products (see also Stone, clay, etc)
_ 6,38
Coal
2,3,6,11,13,14,15, 22, 23,34,35
Cocoa
-_ 22,29
Coffee
-...-._ 22, 29
Coke
__.
23,35
Commercial and industrial failures
___
5
Communications
11,13,14,15,19, 20, 24
Confectionery, sales
29
Construction:
Contracts awarded
—
7
Costs
.
7,8
Dwelling units .
7
Employment, earnings, hours, wage rates-11,
13,14,15
Highways and roads
--.
7,8,15
New construction, dollar value
1,7
Consumer credit*-.
- 16,17
Consumer durables output, index
3
Consumer expenditures
1,9
Consumer price index
5
Copper
.
22,33
Copra and coconut oil.
25
Corn
_
19,28
Cost-oMiving index (see Consumer price
index)
_
5
Cotton, raw and manufactures
_
2,5,6, 22,39
Cottonseed, cake and meal, oB
25
Credit, short- and intermeolate-term
16,17
Crops...
..
2,5,25,28,30,39
Crude oil and natural gas.
2,3
Currency hi circulation-,. —
18
Dairy products
2, 5, 6,12,13,14, 15, 27
Debits, bank
16
Debt, United States Government
17
Department stores..
9,10,16
Deposits, bank
16,18
Disputes, industrial
.
13
Distilled spirits
27
Dividend payments, rates, and yields..
1,18, 20
Drug-store sales....
9,10
Dwelling units, new....
7
Earnings, weekly and hourly..
._ 14,15
Eating and drinking places
... 9,10
Eggs and poultry
.
2,5,29
Electric power
.
6, 26
Electrical machinery and equipment
2,
v>,
T, *», _. _ , 14
3,4.5,11,12,14,15,18,22,34
11,12
13
7,8
17
25
21,22
23
Employment estimates and indexes
Employment Service activities
Engineering construction
Expenditures, United States Government
Explosives.
Exports (see also individual commodities)
Express operations _ .,
.
Failures, industrial and commercial
Farm income, marketings, and prices
Farm wages......
.._!„.,..
Fats and oils, greasetu-.-Federal Government
finance
Federal Reserve banks, condition of
Federal Reserve reporting member banks
Fertilisers....._._..„„._
Fiber products
*•
Firelosses.. ..
Fish oils and
fish
Flaxseed
.
_,
Flooring.,
...........
Flour, wheat
_
5
1,2, 5, 6
15
- 6, 25,26
17
16
16
6, 25
34
_
8
25,30
26
31
29
Pages marked S
Food products
2,3, 4, 5,
6, 8, 9, 12, 13, 14, 15, 18, 22, 23, 27, 28, 29, 30
Foreclosures, real estate
8
Foreign trade indexes, shipping weight, value
by regions, countries, economic classes, and
commodity groups
21, 22
Foundry equipment
34
Freight carloadings
23
Freight cars (equipment)
,_
40
Freight-car surplus and shortage
23
Fruits and vegetables
_
5,6,22,28
Fuel oil
.
_-..______.
35
Fuels
-__
6, 34, 35
Furnaces
34
Furniture-._ 2, 3, 4, 6, 9, 10, 11, 12, 14, 15, 16
Fur3_.__
_---.-22
Gas, prices, customers, sales, revenues
5, 6, 27
Gasoline
9,36
Glass products
2, 11, 12, 14, 15,38
Generators and motors.
34
Glycerin
24
Gold
18
Grains and products
._ 5, 6, 19, 22, 23, 28, 29
Grocery stores
9, 10
Gross national product
1
Gross private domestic investment
1
Gypsum and products
6, 38
Hardware stores- ..
9
Heating apparatus
...
11, 12, 14, 15,34
Hides and skins
6, 22,30
Highways and roads
. 7, 8, 15
Hogs
.29
Home Loan banks, loans outstanding
8
Home mortgages- _.
8
Hosiery
.
.-38
Hotels
- 11, 13, 14, 15, 24
Hours of work per week
_ _ _ . _ 12, 13
Housefurnishings
5, 8, 9, 10
Household appliances and radios
3, 6, 9, 34
Imports (see also individual commodities)
21, 22
Income, personal
1
Income-tax receipts
__
17
Industrial production indexes
—
2,3
Installment credit--16, 17
Installment sales, department stores
10
Instruments and related products- 2, 3, 11, 12, 14, 15
Insulating materials
—
34
Insurance, life
17,18
Interest and money rates
16
International transactions of the U. S
21, 22
Inventories, manufacturers' and trade
3, 4, 9, 10
Iron and steel, crude and manufactures
2,
6, 18, 22, 32, 33
Kerosene-..
-35
Labor disputes, turnover
13
Labor force
11
Lamb and mutton
29
Lard-_
29
Lead
.33
Leather and products
2,
3, 4, 6, 12, 13, 14, 15,30,31
Linseed oil
26
Livestock
- 2, 5, 6, 23, 29
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit).
8, 16, 17, 19
Locomotives
40
Lubricants
36
Lumber and products
2,
3, 4, 6, 9, 10, 11, 12, 14, 15, 18, 31, 32
Machine activity, cotton
_
__
39
Machine tools
34
Machinery
2, 3, 4, 5, 6, 11, 12, 14, 15, 18, 22, 34
Magazine advertising
8
Mail-order houses, sales
10
Manufacturers' sales, inventories, orders
3, 4, 5
Manufacturing production indexes
2,3
Manufacturing production workers, employment, payrolls, hours, wages.--- 11, 12, 13, 14, 15
Margarine
26
Meats and meat packing._ 2, 5, 6, 12, 13, 14, 15, 29
Medical and personal care
5
Metals
2, 3, 4, 5, 6, 11, 12, 13, 14, 15, 18, 32, 33
Methanol _ _
24
Milk_
27
Minerals and mining. 2, 3, 11, 13, 14, 15, 19, 20, 23
Monetary statistics
18
Money supply
18
Mortgage loans
.
- 8, 16, 17
Motor carriers.______
23
Motor fuel
36
Motor vehicles.-4, 6, 9, 18, 40
Motors, electrical
34
National income and product
1
National parks, visitors
24
National security
1,17
Newspaper advertising.,
8
Newsprint
. ..
.
22,37
New York Stock Exchange, selected data
19, 20
Nonferrous metals.--- 2, 6, 11, 12, 14, 15, 18, 22, 33
Noninatallment credit
17
Oats
28
Oil burners
34
Oils and fats, greases
6, 25, 26
Orders, new and unfilled, manufacturers'
4, 5
Ordnance..
11, 12, 15
Paint and paint materials
6, 26
Panama Canal traffic
23
Paper and products and pulp
.
2,
3, 4, 6, 12, 13, 14, 15, 18, 36, 37
Passports issued
24
Payrolls, indexes. _
12
Personal consumption expenditures
1,9
Personal income
,
1
Pages marked S
Personal saving and disposable income
1
Petroleum and products
2,
3, 4, 6, 12, 13, 14, 15, 18, 22, 35, 36
Pig iron
32
Plant and equipment expenditures
2,19
Plastics and resin materials
26
PI ywood
32
Population
_
11
Pork_._
29
Postal savings
16
Poultry and eggs
2,5,29
Prices (see also individual commodities):
Consumer price index
5
Received and paid by farmers
5
Retail price indexes
5
Wholesale price indexes
6
Printing and publishing
2, 3, 4, 12, 13, 14, 15, 37
Profits, corporation.
1, 18
Public utilities
2, 6,
7, 11, 13, 14, 15, 17, 18, 19, 20, 26, 27
Pullman Company
24
Pulp and pulpwood
36
Pumps
,_
34
Purchasing power of the dollar
6
Radiators and convectors
34
Radio and television
3,6,8,34
Railroads
2,
11, 12, 14, 15, 17, 18, 19, 20, 23, 40
Railways (local) and bus lines
11,13, 14,15, 23
Rayon and rayon manufactures. 39
Real estate
.
8, 16, 17, 19
Receipts, United States Government
17
Recreation
. 5, 9
Refrigerators, electrical
34
Rents (housing), index
5
Retail trade, all retail stores, chain stores (11
stores and over only), general merchandise,
department stores
3, 5, 9, 10, 11,13,14,15
Rice
28
Roofing and siding, asphalt
.
36
Rosin and turpentine
25
Rubber (natural, synthetic, and reclaimed),
tires and tubes
6, 22, 37
Rubber products industry, production index,
sales, inventories, prices, employment, payrolls, hours, earnings
2, 3, 4, 6, 12, 13, 14, 15
Rye
28
Saving, personal
1
Savings deposits
16
Securities issued
19
Services
1, 5, 9, 11, 13, 14, 15
Sewer pipe, clay
38
Sheep and lambs
29
Ship and boat building
11, 12,14, 15
Shoes and other footwear
6, 9, 10, 12, 13, 14, 15
Shortening
_
26
Silk, prices, imports.
-_ 6, 39
Silver
18
Soybeans and soybean oil
..
26
Spindle activity, cotton
39
Steel ingots and steel manufactures (see also
Iron and steel)__
.
2,32,33
Steel scrap
32
Stocks, department stores (see also Inventories)
.
10
Stocks, dividends, prices, sales, yields, listings.
20
Stone and earth minerals
2,3
Stone, clay, and glass products
2,
3,4,11, 12,14,15,18,38
Stoves
34
Sugar
22,30
Sulfur
25
Sulfuric acid
24
Superphosphate
25
Tea
30
Telephone, telegraph, cable, and radio-telegraph carriers
11, 13, 14, 15, 19, 20, 24
Television and radio
3, 6,8, 34
Textiles
2,3,
4, 6, 12, 13, 14, 15, 18, 22, 38, 40
Tile_._
38
Tin
22,33
Tires and inner tubes
6, 9, 10, 12, 13, 14, 15, 37
Tobacco
2,3,4,5,6,8,9,12, 13,14,15,22,30
Tools, machine
34
Tractors
34
Trade, retail and wholesale
3,
5,9,10, 11,13, 14,15, 17
Transit lines, local
23
Transportation and transportation equipment
2,
3, 4, 5, 9, 11, 13, 14, 15, 18, 23, 40
Travel
24
Truck trailers
40
Trucks
2,40
Turpentine and rosin
25
Unemployment and compensation
11,13
United States Government bonds
16, 17, 19, 20
United States Government
finance
17
Utilities—
2, 5,
6, 7, 11, 13, 14, 15, 17, 18, 19, 20, 26, 27
Vacuum cleaners
,_
34
Variety stores
9, 10
Vegetable oils
25, 26
Vegetables and fruits
5, 6, 22, 28
Vessels cleared in foreign trade
. _.
23
Veterans' benefits
13, 17
Wages and salaries
. . 1, 14, 15
Washers
.
34
Water heaters
34
Wax
...
36
Wheat and wheat
flour
.
19, 28, 29
Wholesale price indexes
6
Wholesale trade
3, 5, 10, 11, 13,14, 15
Wood pulp
36
Wool and wool manufactures
6, 22, 39, 40
Zinc
33
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