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1
SURVEY OF
JANUARY 1970/VOLUME 50 NUMBER
CURRENT BUSINESS
JANUARY 1970
/ VOLUME 50 NUMBER
SURVEY OP CURRENT BUSINESS
CONTENTS
THE BUSINESS SITUATION
1
National Income and Product Tables
THE ECONOMY IN 1969
Income and Consumption
Nonresidential Fixed Investment
Housing
7
11
12
13
14
Inventories
Government Expenditures and Receipts
Labor Markets
Prices
Financial Developments
Balance of Payments
Personal Income Higher in All Regions
in Third Quarter of 1969
BUSINESS INVESTMENT EXPECTATIONS, 1970
15
16
18
19
20
21
U.S. Department of Commerce
23
24
Rocco C. Siciliano / Under Secretary
Harold C. Passer / Assistant Secretary
for Economic Affairs
Office of Business Economics
George Jaszi / Director
Morris R. Goldman / Associate Director
Lora S. Collins / Editor
Leo V. Barry, Jr. / Statistics Editor
Billy Jo Hurley / Graphics
STAFF CONTRIBUTORS TO THIS ISSUE
Business Review and Features:
Donald A. King
Joseph C. Wakefield
John A. Gorman
ARTICLE:
Revised Estimates of New Plant and Equipment
Expenditures in the United States, 1947-69
Maurice H. Stans / Secretary
David T. Devlin
Rose N. Zeisel
25
Robert B, Bretzfelder
Genevieve B. Wimsatt
CURRENT BUSINESS STATISTICS
Article:
General
S1-S24
Genevieve B. Wimsatt
John R. Woodward
Industry
S24-S40
Subject Index (Inside Back Cover)
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the BUSINESS SITUATION
GNP recorded its smallest advance
of the year in the closing quarter. The
market value of the Nation's output of
goods and services rose $10% billion.
Real output was unchanged from the
third quarter, continuing the weakening
trend evident since mid-1968.
Developments in the economy during
1969 are reviewed in a special article in
this issue of the SURVEY.
A HE Nation's output of goods and
services scored its smallest advance of
the year in the closing quarter. GNP
rose only $10l/i billion to a seasonally
adjusted annual rate of $953 billion.
The slower expansion of GNP partly
reflected the effects of the prolonged
strike in the electrical equipment
industry.
All of the fourth quarter rise in
GNP mirrored higher prices. Setting
aside the summer price spurt, which
reflected the Government pay raise,
prices continued to rise at the third
quarter rate. Constant dollar GNP
was unchanged from the third quarter,
thus continuing the weakening trend
that has been evident since mid-1968.
The slowdown in the growth of current dollar GNP was principally attributable to a slowdown in inventory
investment. Final sales increased $13
billion, compared with $14 billion in the
third quarter, but the rate of inventory
accumulation, estimated from incomplete data, dropped $3 billion after
rising almost $4 billion in the third
quarter. The cutback in accumulation
was centered in auto inventories (see
table).
Among the major components of
final sales, government purchases ac-
counted for most of the reduction
in the growth of output. Government
purchases of goods and services increased $2 billion, compared with a $4
billion rise in the third quarter. All
of the fourth quarter advance was due
to higher State and local government
purchases. Federal expenditures for
goods and services declined about $}£
billion as a drop in defense purchases
was only partially offset by a small rise
in nondefense purchases. In the third
quarter, the pay raise for military and
civilian employees was responsible for
a rise of about $2J/£ billion in Federal
purchases.
Nonresidential fixed investment rose
$2 billion in the fourth quarter, or
about $1 billion less than in the third.
Spending on residential investment,
which declined in the second and third
quarters, showed virtually no change
in the fourth; the value of new construction was supported by the temporary
pickup in housing starts that occurred
in late summer.
Personal consumption expenditures
increased $9}£ billion as compared with
a $7 billion rise in the third quarter.
The acceleration centered mainly in
expenditures for nondurable goods; outlays for services continued their steady
advance, while purchases of durable
goods were about unchanged. The
weakness in durables buying was in part
due to slack demand for household
durables, but mainly reflected reduced
purchases of automobiles. Purchases of
domestic-model cars fell from a seasonally adjusted annual rate of 8.6 million
units in the third quarter to 8.2 million
in the fourth. Consumption outlays
rose a bit more than disposable income
and the personal saving rate, at 6}£
percent, was down slightly from the
third quarter but still well above the
5K percent that prevailed in the first
half of the year.
CHART 1
GNP in the fourth quarter rose
about $ 10 1/4 billion...
10
-
or 41/2 percent
Percent
20
Real output was unchanged...
Percent
10
• •• llil •
-0 —
-10
while prices were up 4 Vi percent
Percent
10
1967
1968
1969
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
70-1-1
SURVEY OF CUKEENT BUSINESS
December developments
The slide in industrial production
evident since last July continued in
December. The Federal Eeserve Index
fell a bit less than one-half of 1 percent
last month and stood 2 percent below
its midsummer high of 174.6 (195759=100). The effects of the strike
in the electrical equipment industry
continued to exert a depressing inflence on the level of production, but the
December decline, which was widespread among industry groups, was also
due to factors not related to the strike,
and was particularly pronounced in the
automobile industry.
Last month's weakness in industrial
production was not reflected in the
unemployment rate, which was unchanged at 3.4 percent, but there was
some evidence of easing in labor demand. Nonfarm payroll employment
showed virtually no change for the
third consecutive month, and both the
average workweek and factory overtime continued to edge down.
Among other developments last
month, personal income rose only $2%
billion, the smallest gain of the year.
According to advance reports, the
sluggishness in retail sales persisted.
The rise in wholesale prices slowed to
0.3 percent, about half the size of the
November increase. Industrial prices
continued to rise at about the same
pace as in recent months, but farm
prices, which had jumped sharply in
November, fell back.
Outlook for 1970
Any assessment of the future course
of economic activity is surrounded by
uncertainty. The one aspect of the outlook that seems reasonably clear is the
prospect that the economy's growth will
slow this year. Eeal output is likely to
be not much larger than it was last
year, and consequently most of the
advance in GNP will reflect higher
prices. Although price increases will be
less than in 1969, they will continue
strong, and once again the most difficult
economic problem to be faced is likely
to be that of containing inflation. Beyond that, it is more than usually
difficult to assess 1970 at this juncture.
Gross National Product and Gross Auto
Product, 1969
[Billions of dollars, seasonally adjusted at annual rates]
II
III
IV P
Change
II-III
IIIIV »
GNP
924.8
942.8
953.1
18.0
10.3
Final sales
Change in inventories - _ .
917.9
932.1
945.3
14.2
13.2
6.9
10.7
7.8
3.8
-2.9
Gross auto
product
34.5
Final sales
_ _ _ 35.9
Change in inven-1.4
tories
38.0
36.8
35.9
36.3
3.5
.9
-2.1
-.5
1.2
-.4
2.6
-1.6
Allother GNP... 890.3 904.8 917.2
Final sales
_ _ _ 882.0 895.3 909.0
Change in inven8.2
8.3
9.5
tories
14.5
13.3
12.4
13.7
1.2
—1.3
v Preliminary.
The difficulty of putting the outlook
into focus at this point in time is compounded by several factors: (1) the
uncertain prospects for reduction of
hostilities in Vietnam; (2) uncertainty
over the course of business decisions in
a period heavily affected by inflationary
psychology such as has built up over
the past few years; (3) the impossibility
of gaging the impact of the labor disputes which may result from the numerous major contract negotiations
coming up in 1970.
It seems likely that expansion will
pick up in the latter part of the year,
but this is certainly tentative; it depends heavily not only on private
decisions but also on the course of
monetary and fiscal policy. It is not
clear when and to what extent monetary policy will ease; and it is well
known that there are lags in the effects
of monetary policy, though their length
is uncertain. On the other hand, the
restrictive impact of fiscal policy appears to be abating. Assessed in terms
of the size and movements of the Federal surplus, fiscal restraint achieved its
peak intensity in the first half of 1969
and then eased somewhat in the
second half, and should lessen progressively during 1970. The budget surplus
will be under pressure from several
factors: a substantial increase in social
security payments; the reduction and,
after midyear, elimination of the surtax; other tax relief stemming from the
Tax Reform Act; and a possible pay
raise for government employees.
January 1970
Slow output growth is consistent
with some rise in the unemployment
rate—though the 1969 experience ran
counter to many analysts' expectations
on this. Mainly as a result of slower
growth in employment, the advance in
personal income can be expected to
slacken. Corporate profits will be
squeezed by rising costs and by weakness in final demand.
Personal consumption expenditures
are unlikely to add much more to
aggregate demand in 1970 than they
did in 1969, and the increase in consumption will probably be confined
mainly to nondurables and services.
The available evidence suggests that
fixed business investment will show a
rise in the first half of 1970 and little
further increase in the second half. For
the full year, the rise in business fixed
investment should be less in 1970 than
it was in 1969.
Residential investment is expected
to decline this year. Given the depressed
conditions in mortgage markets and the
decline in housing starts that has already occurred, it seems likely that
residential investment will decline well
into 1970.
Federal expenditures for national defense are expected to be lower this year
than last, with this decline only partially offset by increases in nondefense
outlays. State and local government
purchases will continue to grow. Inventory investment and net exports are
always difficult to project, but the
prospects are that their contributions
to aggregate demand will be of roughly
the same order of magnitude as in 1969.
This assessment of the probable
course of economic activity in 1970
yields the conclusion that the year will
not be a comfortable one. The outlook
suggests very little real growth, some
rise in unemployment, a profits squeeze,
and price increases that will be less than
in 1969, but still strong. In addition,
with major labor contracts covering
about 5 million workers up for negotiation in 1970, and with profits under
pressure, the possibility of significant
labor strife is very real. If such difficulties do indeed arise, they would
add substantially to the degree of discomfiture already projected for the
year ahead.
SURVEY OF CURRENT BUSINESS
January 1970
CHART 2
• Expansion of economic activity slowed in fourth quarter—GNP up about $10 k billion but real GNP unchanged
• Nonfarm payroll employment was unchanged in December—The unemployment rate held at 3.4 percent
• GNP deflator rose 4 \t percent (annual rate) in fourth quarter
TOTAL PRODUCTION
PRICES
THE LABOR MARKET
Million Persons
Percent
83
IMPLICIT PRICE DEFLATOR FOR GNP**
(Change From Previous Quarter)
CIVILIAN LABOR FORCE AND EMPLOYMENT*
81
Labor Force
79
Employment
850 -
75 I/I I I I I I I I I I I I I I I I i I I I I I I I I I I I I I i I I I
800
Monthly (Dec.)
Quarterly (IV)
Billion $
BLS
Quarterly (IV)
Percent
1957-59=100
40
CURRENT DOLLAR GNP**
(Change From Previous Quarter)
UNEMPLOYMENT RATE*
30
Total
20
Married Men
10
1
Billion $
Million Persons
800
/6
Inventory Change
68
~ ^x^^
64
I
I
I
I
I
I
1 11 1 1 1 M M
1
BLS
I
I
I
Quarterly (IV)
I
60
M
1 1 t 1 1 1 1 1 1
-
Total ^^
- 140
_^-,
130
105
i i M 1 1 1 1 1 1 i 1 ! ! 1 1 1 1 1 1 1 1 120
100
III.
1957-59=100
WHOLESALE PRICES
3.20
120
- 3.00
110
r*"^
37.5
35.0
1970
QBE
Quarterly (IV)
* * Seasonally Adjusted at Annual Rates
1968
1969
Monthly (Dec.)
v
v
5>*'"^i
\—^
Average Weekly Hours*
(left scale)
i t i i i 1 t i i 1 1 i t t i i 11 t t i ii
Processed Foods /«~+s^
and Feeds \^/
^^ *>~S
s**~S**~*~~*
^'"
_ 2.80
100
2.60
90
t 1 1 1 I i IM ! >
1970
BLS
130
Average Hourly Earnings ^^
(right scale) x /
-4
3.40
40.0
M 1 1 I1 1 1 1 11
Monthly (Dec.)
Dollars
42.5
III
* Seasonally Adjusted
1 1 1 i.t i jj j j j. > 1 1 1 1 i i i M t
PRODUCTION OR NONSUPERVISORY WORKERS
(PRIVATE)
CONSTANT DOLLAR (1958) GNP*
(Change From Previous Quarter)
^
Industrial Commodities
^
BLS
45.0
U.S. Department of Commerce, Office of Business Economics
r
HO
-
Hours
1969
-
115
.s~*^~~
Monthly (Dec.)
QBE
12
1968
1957-59=100
WHOLESALE PRICES
Man-Hours*
(right scale)
**^**
650
I
| J. |
Billions
Employment*
(left scale)
Final Sales
600 I
{
120
72
Total
700
1 1 1 1 i
NONFARM ESTABLISHMENTS
(Employees)
CONSTANT DOLLAR (1958) GNP*
750
1
Monthly (Dec.)
Quarterly (IV)
BLS
-
/v/
,-
>"'^\
x""*' Vv*
Farm Products
! 1 1 1 1 1 1 1 1 Ii
I I i i i 1 I i M1
t ti i i i i i i i t
1968
1969
1970
Monthly (Dec.)
_
BLS
4
SURVEY OF <DURRENT BUSINESS
•
•
•
Slowdown of personal income growth continued, with December showing a small gain of about $2 H billion
Consumer spending advanced more in the fourth quarter than in the third, despite the drop in new car sales
Nonresidential fixed investment increased less in the fourth quarter than in the third—Residential investment unchanged
INCOME OF PERSONS
CONSUMPTION AND SAVING
Billion $
650
PERSONAL CONSUMPTION EXPENDITURES**
PERSONAL INCOME**
_
—
750
600
"**
-
\\ 1 f 1 1 1 1 f 1 f
650
500
25
—
1 M f t i't 1 i ! 1
1 I1 1 1 1 1 M
1
450
\
\
\
\
QBE
\
I
1
l
l
Quarterly (IV)
i
0
Billion $
Billion $
33
85
WAGES AND SALARIES**
—
Total
(left scale)
Total
30
^s*1*^**^*
S^
_
S^
-
200
25 -
-
150
20
100
15
^y^
,/
_.
mj*~—
^ '^*~^
¥>
_.
~~
80
-
~
75
-
Excluding Automotive Group
-
70
1 1 M.I
1 1 1 Ml
1 1! t 1 1 M i f 1
I 1 1 M 1 t t 1 l.t
Monthly (Dec.)
M i l l 1 t .1 I 1 1 M
1 M 1 1 M 1 1
Monthly (Dec.)
QBE
Billion $
0
.s
600
-
Domestic
((eft scale)
"*
f
-
8
wr/^V
550
500
-
-
6
—
I
• - ,
I
I
t 1
1
I
4
I
Quarterly (IV)
~~
i r i i i i 1 1 1 j 1 r M r i 1f f i t
2
5 -
0
4
l » 1 M 1 i i i I'i
§
-
i i t 1 1 1 n i i it 1 i t i i 1 l i 1
Monthly (Nov.)
lI
Census
'2.5
PRIVATE NONfARM HOUSISa**
PERSONAL SAWN0 RATE*
10
A
WU/V
Shipments
^^
Million Units
12
REAL PER CAPITA DISPOSABLE
PERSONAL INCOME**
-1958$
OBE-SEC
—
Trade Sources & QBE
Percent
2,700
A.*4K
*»»,,*****•
Monthly (Dec.)
QBE
Dollars
2,600
1 1 1 1 1 1 M
New Orders
6 -
,JTJ\..
1 M
l . t
^\
Imports
•
I
7
A
s^
\ >
MACHINERY AND EOUIPMENT*
(Manufacturini Firms)
4
NEW CAR SALES**
^^^^ ' ^
1
-
Quarterly (III)
12,
10
i
QBE
. i . i . j
Census
Million Units
~
1
':
65
Billion $
s>**
i
-
\>/
\<
I t M 1 1t i 1 1 i
DISPOSABLE PERSONAL INCOME**
1
• '
700
650
1
/
Manufacturing
(right scale)
400
i
N~
-'-'
.-.--^/
i
PLANT AND EQUIPMENT EXPENDITURES**
RETAIL STORE SALES*
—
-gZ^*
_
Quarterly (IV)
Billion $
450
—•<=
QBE
600
500
""
Residential Sin ctures**
Monthly (Dec.)
550
.
Nonresidentta! S1ractures**
^
**aM"N
_
y\
/^
\
** *****
-- - "1
50
550
^S
^
Producers Durable Equipment**
"*•
75
~
4^^
700
FIXED INVESTMENT
Billion $
100
Billion $
850
800
January 197C
-
-
2.0
/^Starts
2,500
-
8
-
6
-"V\~rr^
~^-—T^~~*
2,400
<?™n
t . i
t
i
1968
t
!
1969
l
i
f
Quarterly (IV)
* Seasonally Adjusted
* * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
4
1970
-
t
1968
QBE
\
i
t
i
l
1969
Quarterly (IV)
1.5
/
""""y
1.0
i
i
t
.5
1970
1 1 1 1 1 1 i i 1 1 1 i i I M1 i M n
1968
QBE
^^"vA
'- Permrfe
y"
1969
Monthly (Nov.)
! IM 1 1 1 1
II
1970
Census
January 1970
SURVEY OF CURRENT BUSINESS
11
In the fourth quarter: Rate of inventory investment down $3 billion
Net exports about unchanged
•
Federal purchases down due to cut in defense spending—State and local purchases up a bit
1
INVENTORIES
FOREIGN TRANSACTIONS
GOVERNMENT
Billion $
Billion $
Billion $
40
12
140
,NET EXPORTS*
CHANGE IN BUSINESS INVENTORIES**
(GNP Basis)
30
-
8
20
_
4
FEDERAL PURCHASES OF
GOODS AND SERVICES**
-
-
120
-
100
Total
Goods and Services
-
/
^\
~*"~
\
"^-*^^^T—-^""*~
Defense
*—S~~
^
s
10
0
hi nil
0
i
Billion $
4.U
-
150
Total
S*
^\S^
^s
~ *s
_
3.5
~
3.0
2.5
1 1 11 1111 111 1 1 11 1 11 1 111
140
Monthly(Nov.)
1
I
<sn
1 1 11 1 1 1 1 f 1 t
Ex nnrtc
\
//NCr
* **
I?
/
1 111 111 1111
_
4 N*
2
/
I i i i i 1 t i i i i 1,1 i i i i i i i i i
on
—
_
_
1 1) 1 1 1 1 1 f i 1
t 1 11 1 i L1 11 t
Monthly (Nov.)
_
,
A.
i 1 1 1 1 1 t f II !
175
1
-4
1
1
l
Census & OBE
i
t
i
l
l
Quarterly (III)
-..••**** /^
150
Billion $
Billion $
4
175
BALANCE OF PAYMENTS*
Manufacturing
-x-^v A
/V«
^N/V/pV-'^
1
\
1.4
1.2
i 1 1 ! 11 1 1 1 1 1
1 1 t 1 11 1 11 I 1
1968
1969
Monthly (Nov.)
1 t 11 1 1 l l 11 i
1970
Census & OBE
* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
372-943 O - 70 - 2
/
Liquidity Basis
-2
~ Total Manufacturing and Trade
-A
.
1968
t
i
l
t
i
l
i
l
l
OBE
150
'~\
Is^s \ i
1 X
l
STATE AND LOCAL PURCHASES
OF GOODS AND SERVICES**
Official Reserve Transactions Basis
/v
\
2
^
l
_
Quarterly (IV)
Ratio
INVENTORY/SALES RATIOS*
i
••***'
Expenditures
OBE
2.0
1.8
—
onn
-2
40
225
V
Outflow
60
Census
Receipts
IS
\/l
N/ \
Trade
"*
FEDERAL BUDGET**
(NIA Basis)
Inflow
1
—
Monthly (Nov.)
NET FLOW OF PRIVATE U.S. AND FOREIGN CAPITAL
(Other than Liquid Funds)*
^^pa**^^^^^
'
OBE
i 1 1i il 11 iii M11 1111111 1111 11 i 1 1 ii
0
Census
2. 50
v
I
4
Shipments
1
Monthly (Nov.)
2
I
.,/ ' \ \ \ J \ J
Billion $
_
I
-?r\^J^fi^^^t^\t*^f
4
^^^
I
New Orders
.4 Imports
MJ/
F
- f . .
2.0
3
Billion $
Manufacturing
I
DEFENSE PRODUCTS*
Billion $
—
I
Quarterly (IV)
120
100
I
4
Census & OBE
MANUFACTURING AND TRADE INVENTORIES*
(Book Value, End of Month)
I
OBE
Billion $
A
y^
1
MERCHANDISE TRADE*
MANUFACTURING AND TRADE INVENTORIES*
(Book Value, End of Month)
160
1
Quarterly (IV)
Billion $
~
Merchandise
t i l
i
OBE
180
170
i
V
80
V.
-4
Quarterly (IV)
s
•joe
\
^*~~~~^
100 -.^^^^^^
\/
i V1
1
1969
Quarterly (III)
I
I
I
75
1970
i
l
1968
OBE
l
i
l
1969
l
i
l
l
1970
Quarterly (IV)
OBE
SURVEY OF CURRENT BUSINESS
January 1970
1
CHART 5
• In December: Bank credit and money supply showed little change
•
Interest rates and bond yields jumped to new highs
•
Stock prices moved lower
INDUSTRIAL PRODUCTION
MONEY, CREDIT, AND SECURITIES MARKETS
1957-59=100
Billion $
190
46U
240
Durablefttamrfaetesx
150
340
X'
j 1 1 Lt 1 1 t !t t
11 M .
M M \\ \ M 1 1
Monthly (Dec.)
FRB
I t Mil
_. 220
Bank Credit
(left scale)
\ ^" ^
380
Nondurable
Manufactures
X~x*^~* •
160
—
/
^/N*/*
CORPORATE PROFITS**
420
.—, Total
V
V ,/^A
*"••*
170
120
BANK CREDIT AND MONEY SUPPLY*
INDUSTRIAL PRODUCTION*
180
PROFITS AND COSTS
Billion $
300
•'
L^T\'
Money Supply
^^
(right scale)
1 M M I,M I M
IIMI..M.
MM.ll.IH
Monthly (Dec.)
Before Tax and Including IVA
/
/
100
200
80
180
60
160
AO
i
Billion!
Billion $
l
120
125
100
1
v /V
**J
150
Autos
\ t
\ i
- ..
'\
\/
\
•\
0
~
~"
100
_
li i i f I i n j i H i 1 1 1 1 1 1 1 i
M M 1 1 1 II
Monthly (Dec.)
M
I 1 ( t 1i i t 1 (I
FRB
N\s^~
^
H 1M ) MM 1
60
| } } } } 1 | .| i | i
Monthly (Dec.)
Percent
Percent
95
10
~
II-. •.!•.,
-
I
1
I
!
4
Corporate Yields, Moody's Aaa ^
2
6
2
!
3-rnonth Treasury Bills
t i< i t {n t M
i i 1 i J 1 j,J J j 1
| (| {| 1 | i f l|
Percent
140
6
32
—
STOCK PRICES
_
^
Standard and Poor's 500
4
_
2
«.
BIS
UNIT LABOR COSTS, PRIVATE ECONOMY*
(Change From Previous Quarter)
—,
\
Ne» Orders
\
•
' " " "
Quarterly (III)
1941-43 = 10
DURABLE GOODS MANUFACTURERS*
-
-2
Monthly (Dec.)
120
OBE
Compensation
/
-*—*
mm
FRB
—
\
e Jljil
Billion $
—
1
OUTPUT AND COMPENSATION PER MAN-HOUR,
PRIVATE ECONOMY*
_ (Change From Previous Quarter)
40
36
!
Quarterly (III)
^^
Quarterly (III)
—
Percent
x
1
-*—
A
i
i l l
Profits After Taxes
FRB
Manufactpring
7-5
-
-
6
g
85
OBE
\
4f)
INTEREST RATES AND BOND YIELDS
RATIO, OUTPUT TO CAPACITY*
90
i r
—
80
-1 ~"
-2
i
t
Internal Funds
s.
X^^s^
V-^
Steel
i
~~
V
f
i
CORPORATE INTERNAL FUNDS AND PROFITS**
FffEE RESERVES
**"**\+*
/
N
-
i
Quarterly (III)
1957-59=100
175
_
FRB
200
INDUSTRIAL PRODUCTION*
—
•*•"
/"
*»
—
100
/^
\f "
fc&r
^\^\
l.il III
Of)
28
—
Shipments
24
$ i. n 1 1 i 1 1 L i
i t1f i i H i H
1 1 i 1 11 1 M ) 1
1969
1970
CensUS
Monthly (Nov.)
* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
1968
60
t l l 1 t 1.1 M M JJ.J-4J. j i i f I 1
1968
1969
Monthly (Dec.)
,
|M 1f 1 1 | J M
1970
1968
i
1969
Quarterly (III)
.
1970
BLS
SURVEY OF CURRENT BUSINESS
January 1970
NATIONAL INCOME AND PRODUCT TABLES
1969
1968
1968
1969
III
II
IV
1968
III
IV
1968
1969>
III
Seasonally adjusted at annual rates
1969
IV
Ill
IV
Seasonally adjusted at annual rates
Billions of 1958 dollars
Billions of current dollars
Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
865.7
932.3
876.4
892.5
908.7
924.8
942.8
953.1
707.6
727.7
712.8
718.5
723.1
726.7
730.6
730. 5
457.6
462.9
466.2
466.5
468.5
82.7
197.2
177.7
84.3
199.3
179.3
85 9
199.3
181.0
84.7
199.3
182.5
84.1
200.2
184.1
Personal consumption expenditures
536.6
576 0
544.9
550.7
562.0
572.8
579.8
589.2
452.6
466.0
458.2
Durable goods
Nondurable goods
...
Services
. .-
83 3
230.6
222.8
89 6
243 8
242.5
85 8
233.3
225.8
86 3
234.3
230.1
88 4
238 6
235.0
90 6
242 1
240.1
89 8
245.1
244.9
89 6
249.4
250.2
80.7
196. 9
175.0
84.8
199.5
181.7
83.0
198.7
176.5
105.7
._ .
Gross private domestic investment. .
Fixed investiri$Tit
Nonresidential
Structures
Producers' durable equipment
Residential structures .
Nonfann .. ..
Farm
.
._
._ ..
Change in business inventories. .
Nonfarm
Farm
. .
..
Net exports of foods and services
Exports
Imports
Government purchases of goods and services
.
Federal
National defense
Other
State and local.
..
126.3
139 6
125.2
133.9
135.2
137.4
143.3
142 4
111.9
104.1
110.9
109.9
110.8
114.3
112.6
119 0
131 5
118 0
123 4
128 6
130 5
132 5
134 5
99.1
104.9
97.7
101.4
104.0
104.8
105.0
106,0
88.8
29 3
59 5
99 3
33 4
65 9
88.1
29 0
59 1
91.5
30 1
61.4
95.3
32 3
63 0
97.8
32 1
65.7
101.1
34 7
66.4
103.0
34 4
68 6
75.8
22.7
53.2
81.5
24 0
57.5
75.0
22.2
52.7
77.3
22.9
54.4
79.4
23.9
55.5
81.0
23.3
57.7
82.4
24.6
57.8
83.2
24.2
59.0
30 2
29.6
.5
32 2
31 7
5
29 9
29 4
.5
31 9
31.4
.5
33 3
32 8
.5
32 7
32.2
.5
31 4
30.9
.5
31 6
31 0
5
23.3
22.8
.4
23 5
23 1
.4
22.7
22.3
.4
24.1
23.7
.4
24.6
24.2
.4
23.8
23.4
.4
22.6
22.2
.4
22.8
22.4
.4
7.3
7.4
_ i
80
7 g
2
7.2
7.5
— 3
10.5
10.7
_ 2
66
6.6
6.9
6.7
2
10 7
10.3
4
78
7.6
2
6.6
6.7
—.1
69
6.8
2
6.4
6.7
—.3
9.6
9.8
—.2
5.9
5.9
.0
6.0
5.8
.2
9.3
8.9
.4
6.7
6.5
.2
o
25
2i
36
12
15
1.6
27
26
.9
0
1.7
— 2
—.3
— .5
.4
.3
50.6
48 1
55 4
53 3
55.4
49 7
50 6
49 4
47.6
46 1
57.1
55 5
57.8
55 2
59 1
56 4
45.6
44.7
48 4
48 4
48.0
46.3
45.5
45.7
41.9
42.2
50.4
50.8
50.2
49.8
51.3
50.9
200.3
214 7
202.5 206.7
210.0
212.9
218.9
148.4
148.8
150.2
150.6
150.2
79.4
78.3
70.8
72.3
217.0
149.8
99 5
78 0
21 5
102 0
79 3
22 8
100 9
78 8
22 1
101 9
79 3
22 5
101 6
79 0
22 6
100 6
78 5
22 1
103 2
80 3
22 9
102 7
79 2
23 5
78.9
76 1
79.2
100 7
112 7
101 7
104 8
108 5
112 3
113 8
116 2
69 5
73 7
69.6
149.4
149.0
76.3
75.5
74.4
73.9
73.9
74.7
Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
Gross national product
865.7
Final sales
Change in business inventories
Goods output
932 3
876.4
892.5 908.7
858 4 924 3 869 2
73
72
80
882 0
10 5
902 l
66
431.1
443 5
447 9
459 9
437 0
924.8 942.8
953.1
707.6
727.7
712.8
718.5
723.1
726.7
730.6
730.5
917 9
69
932 0
10 7
945 3
78
701.0
6.6
720.8
6.9
706.3
6.4
709.0
9.6
717.2
5.9
720.7
6.0
721.3
9.3
723.8
6.7
456 5
465.9
469 0
381.3
392.7
385.5
388.2
389.1
391.6
395.9
394.1
385 7
69
379.1
6.4
378.7
9.6
383.2
5.9
385.7
6.0
386.6
9.3
387.5
6.7
162 8
158 0
4.7
172 4
167 1
5.3
164.5
159 9
4.5
167.8
161 2
6.5
169.0
164.8
4.2
171.4
167.3
4.1
174.7
168.1
6.6
174.6
168.3
6.3
Final sales
Change in business inventories
423 7
73
451 8
80
429 9
72
433 0
10 5
441 3
66
449 6
69
455 2
10 7
461 2 374.7
66
78
Durable goods
Final sales
Change in business inventories
176 7
171 4
5.3
192 3
186 1
62
178 8
173 7
51
184 0
176 6
74
186 4
181*6
4.8
190 3
185 5
49
195 4
187 8
76
197 1
189 7
7 4
254 4
252 3
20
267 5 258 3
265 7 256 1
21
18
259 5 261 5 266 2 270 5 271 9
256 4 259 7 264 1 267 4 271 5
4
21
31
18
31
218.6 220.3 221.1 220.5 220.2
216 7 218 6 219 2 217.5 218.4
1.7
30
19
19
16
220.2
218.4
1.9
221.2
218.5
2.7
219.5
219.2
.3
347 5
077 e
353 2
358 5
365 8
373 4
001 ft
259 9
267 3
262 4
262 7
264.6
267.0
267.6
269.8
87 1
OK A
86 1
90 6
94 9
94 8
95 3
66 4
67 7
64 8
67 5
69.3
68.0
67.1
66.5
Nondurable goods
Final sales
Change in business inventories...
Services
Structures
_
389 0
QC |
Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product
Private
Business
Nonfarm..
Farm
_
865 7
932 3 876 4
892 5
908 7
924 8
942 8
953 1 707 6
727 7
712.8
718.5
723.1
726.7
730.6
730.5
770-5
828 2
779 2
794 0
808 5
822 7
836 5
845 2
647 9
666 7
652 6
658.3
662.6 665.8
669.4
668.9
740 6
715 7
24.9
795 4
768 4
27 0
749 3
724 1
25 2
763 1
738*4
24*7
776 7
751 1
25 7
790 5
763 0
97 ft
803 6
775 9
27 7
810 8
783 8
26.9
627 5
604.2
23 3
645 3
621 8
23 5
632 1 637.5
608.8 614.6
23 4 22.9
641.5
617.8
23.7
644.8
621.1
23.7
648.2
624.1
24.1
646.9
624.3
22.6
17.8
25 2
28 6
25 0
26 0
27 2
28 3
28.9
30.0
15.9
17.3
15.7
16.2
16.8
17.2
17.4
Rest of the world
4. 7
4 2
49
4.9
4. 5
39
41
4 4
4.5
4 0
4.7
4.6
4.3
3.7
3.9
4.2
General government
95 2
104 1
97 1
98 5
100 2
102 1
106 2
107 9
59 7
61 0
60 2
61.1
61.6
Households and institutions
Preliminary.
60.2
60.5
60.9
SUKVEY OF CURRENT BUSINESS
8
1968
1968 1969 P
III
January 1970
1968
1969
IV
I
II
III
IV P
1968 1969 P
National income
865.7 932.3 876.4 892.5 908.7 924.8 942.8 953.1
Equals : Net national product .
73.7
74.6
75.9
77.2
78.6
.8
1.1
1.1
.9
1.1
.9
1.1
89.3
3.6
1.3
714.4 771.5 724.1 737.3 751.3 765.7 780.6
Equals* National income
Less: Corporate profits and inventory
valuation adjustment . .
Contributions for social insurance
Wage accruals less disbursements
Plus: Government transfer payments
to persons
Interest paid by government
(net) and by consumers
Dividends
Business transfer payments. . .
Equals: Personal income. .
79.9
. 792.4 854.4 802.6 817.9 832.8 847.6 864.2 873.2
Less: Indirect business tax and nontax
77.9 86.6 79.4 81.4 83.3 85.7 88.0
liability 3.4
3.5 3.5 3.6 3.6
3.4
3.6
Business transfer payments
-2.5 —6.2 -3.3 -3.4 -4.2 -6.5 -6.9
Statistical discrepancy
Plus: Subsidies less current surplus of
government enterprises
III
IV P
Table 6.—National Income by Type of Income (1.10)
Table 4.—Relation of Gross National Product, National Income,
and Personal Income (1.9)
77.9
II
Billions of dollars
Billions of dollars
Less: Capital consumption allowances. 73.3
I
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Gross national product
IV
III
1969
87.9
88.7
90.6
90.3
89.5
89.2
88.8
47.0
54.4
47.6
48.6
52.7
53.8
55.1
56.1
.0
.0
.0
.0
.0
.0
.0
.0
55.8
61.9
56.7
58.1
60.1
61.3
62.5
63.6
26.1
23.1
3.4
28.7
24.6
3.6
26.4
23.6
3.4
27.4
23.8
3.5
27.9
23.8
3.5
28.5
24.3
3.6
28.9
24.9
3.6
29.5
25.2
3.6
Compensation of employees
Wages and salaries
Private
Military
Government civilian..
Supplements to wages and salaries. .
Employer contributions for social
insurance
Other labor income
Employer contributions to private pension and welfare funds
Other
Proprietors' income
. ... 687.9 747.1 696.1 711.2 724.4 740.5 756.5 766.9
Business and professional
Income of unincorporated enterprises
Inventory valuation adjustment
Farm
Rental income of persons
Corporate profits and inventory valuation adjustment
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment
Net interest
714.4 771.5 724.1 737.3 751.3 765.7 780.6
513.6 564.2 519.8 532.3 546.0 558.2 571.9 580.9
465.0 509.8 470.7 482.1 493.3 504.3 516.9 524 8
369.0 405.3 372.7 382.8 392.5 402.0 410.2 416.5
18.0 19.1 18.7 18.3 18.2 18.4 20.1 19 9
78.0 85.4 79.3 80.9 82.5 84.0 86.6 88.5
48.6
54.4
49.1
50.2
52.7
53.8
55.0
56.1
24.4
28.2
24.7
25.3
27.3
27.9
28.6
29 1
24.2
26.2
24.5
25.0
25.5
26.0
26.4
26.9
20.1
4.1
63.8
66.3
64.1
64.1
64.6
66.5
67.3
66.7
49.2
50.2
49.3
49.7
49.7
50.1
50.5
50.4
49.9
—.7
14.6
16.1
14.8
14.4
14.9
16.4
16.8
16 3
21.2
21.6
21.2
21.4
21.5
21.6
21.7
21 8
87.9
88.7
90.6
90.3
89.5
89.2
88.8
91.1
94.3
91.5
94.5
95.5
95 4
92.5
41.3
49.8
23.1
26.7
43.5
50.8
24.6
26.3
41.4
50.0
23.6
26.5
42.9 rM3.9 r••44. 1 ••42.8
51.6 51 7 51 3 r49. 7
23.8 23.8 r 24.3 r 24.9
27.8 '27.9 27.0 24.9
-3.2 -5.6
28 0
30.6
25.2
-.9 -4.2 -6.1 -6.2 -3.7 -6.4
28 4
29 3
29 8
30 3 30 9
31 6
Table 5.—Gross Auto Product in Current and Constant Dollars
(1.15, 1.16)
Table 7.—National Income by Industry Division (1.11)
Billions of current dollars
All industries, total
Gross auto product l _ _
35.9
Personal consumption expenditures. 30.2
Producers' durable equipment
5.3
Change in dealers' auto inventories. . 1.0
Net exports. Exports
.
Imports
36.0
37.5
37.5
34.5
38.0
35.9
31.6 31.7
5.6
5.6
.1 -.6
31.4
5.5
1.5
30.9 31.4
5.4
5.5
1.1 -1.4
32.1
5.6
1.2
32.0
5.6
-.4
36.5
-.8 -1.1 -1.0 -1.2
2.0
2.4
2.0
2.0
3.2
2.8 3.5 3.0
-.2 -1.4 -1.4 -1.5
2.3
2.5
2.3 2.4
2.5 3.7 3.8 4.0
32.4
4.3
33.4
4.6
Addenda:
New cars, domestic J _.
New cars, foreign. .
32.6
5.3
32.6
4.3
33.9
4.7
30.7
5.4
34.2
5.5
32.2
5.7
36.4
34.2
Billions of 1958 dollars
Gross auto product l
35.1
34.9
35.2
36.2
36.2
Personal consumption expenditures. 29.4
Producers' durable equipment
5.2
Change in dealers' auto inventories. - 1.0
30.2
5.4
.1
30.9
5.5
-.6
30.2
5.4
1.5
-.8 -1.1 -1.0 -1.2
2.0
2.4
2.0
1.9
2.8 3.5 3.0
3.2
29.7 30.1 30.7 30.4
5.3
5.5
5.4
5.4
1.1 -1.3
1.2 -.4
_ o -1.4 -1.4 -1.5
2.Z
2.4
2.4
2.3
2.5 3.7 3.8
3.9
32.1
4.3
32.7
4.5
Net exports
Exports
Imports. .
33.0
Addenda:
New cars, domestic 2
New cars, foreign . .
31.8
5.2
32.4
4.3
33.3
4.6
30.0
5.3
33.4
5.3
1. The gross auto product total includes Government purchases
2. Differs from the gross auto product total by the markup oon both used cars and
foreign cars.
p Preliminary.
r
Revised due to repeal of investment tax ciedit.
31.2
5.6
714.4 771.5 724.1 737.3 751.3 765.7 780.6
Agriculture, forestry, and fisheries
Mining and construction
M anufacturing
Nondurable goods
Durable goods
.
21.9 23.8 22.2 21.9 22.6 24.2 24.5
42.9 48.1 43.1 44.4 45.9 47.8 48.6
215.4 229 1 218.2 222.7 225.3 228.9 231.6
82.9 88.0 84.2 85.4 86.1 88.3 88.5
132.5 141.1 134.1 137.3 139.1 140.5 143.2
Transportation
C ommunication
Electric, gas, and sanitary services
Wholesale and retail trade
.
27.2 29.0 27.5 27.8 28.2 28.9 29.3
14.2 15 5 14.4 14.9 15.3 15.6 15.4
13.7 14.7 14.2 13.9 14.2 14.2 15.1
105.2 112.6 106.6 107.8 109.5 111.7 113.9
Finance, insurance, and real estate. . 78.2 85.2 79.3 80.9 82.9 84.4 86.0
Services
86.1 94.4 86.5 89.3 92.1 93.6 95.0
Government and government enterprises .
105.0 114.8 107.1 108.7 110.6 112.5 117.1
Rest of the world
4 9
4.9
4.5 3 9 4 1
47
4 2
Table 8.—Corporate Profits (Before Tax) and Inventory Valuation
Adjustment by Broad Industry Groups (6.12)
All industries, total.
Financial institutions
Mutual.
Stock
Non financial corporations
Manufacturing
Nondurable goodsDurable goods .
Transportation,
communication,
and public utilities .
All other industries
87.9
88.7
90.6
90.3
89.5
89.2
88.8
11.5
12.9
12.1
11.9
12.3
12.7
13.3
2.1
9.4
76.4
75.8
78 5
78.5
77.2
76.5
75.6
44.4
19.9
24.5
44 0
20 2
23.7
45 4
20.4
25.0
46 2
20.4
25.8
45.1
20.3
24.7
44 9
21 0
23.9
43.8
20.0
23.8
11.6
20.4
11.9
20.0
12.0
21.0
11.6
20.7
11.8
20.3
11.7
19.9
11.9
19.9
SURVEY OF CURRENT BUSINESS
January 1970
1969
1968
1968 1969'
III
9
IV
I
II
1968
III
IV »
1968
1969' III
Seasonally adjusted at annual rates
Table 9.— Gross Corporate Product (1.14)
Corporate profits and inventory
valuation adjustment
Profits before tax
Profits tax liability
Profits after tax
- Dividends
Undistributed profits
Inventory valuation adjustment..
Cash flow gross of dividends
Cash flow net of dividends
Cross product originating In
financial Institutions
Personal income
45.9
49.1
46.2
46.7
47.7
48.6
49.6
50.5
44.8
49.0
45.8
46.6
47.3
48.5
49.8
50.5
425.0 433.0 439.9
338.2 346.0 353.4 357.9
301.3 308.5 315.1 318.9
36.9 37.6 38.3 38.9
1.4
1.5
1.6
83.9 84.6 86.4 86.2
87.2 90.2 87.3 90.4
41.3 43.5 41.4 42.9
45.8 46.7 45.9 47.5
21.5 22.9 21.9 22.2
24.3 23.8 •24.0 25.3
-3.2 -5.6 -.9 -4.2
85.2
91.3
••43.9
'47.4
22.1
••25.3
-6.1
85.3
91.6
'44.1
'47.5
22.8
'24.7
-6.2
1.2
1.6
1.3
1.7
1.8
84.8
88.5
'42.8
'45.7
23.3
'22.5
-3.7 -6.4
Corporate profits and inventory
valuation adjustment. - - _
Profits before tax
Profits tax liability
Profits after tax__
Dividends .
Undistributed profits ._ . _
Inventory valuation adjustment. —
Cash flow, gross of dividends
Cash flow, net of dividends
44.9
45.4
46.4
47.3
48.2
49.1
47.0
43.9
44.7
45.3
46.5
47.8
48.4
11.4
11.7
11.9
72.4 71.7 74.3 74.3
75.6 77.3 75.2 78.5
35.6 37.0 35.5 37.0
40.0 40.3 39.7 41.5
20.4 21.6 20.7 20.9
19.6 18.7 19.0 20.6
-3.2 -5.6 -.9 -4.2
72.9
79.0
'37.7
'41.3
20.9
'20.4
-6.1
72.6
78.8
'37.7
'41.2
21.5
'19.6
-6.2
84.6
64.2
12.0
88.1
66.4
11.1
84.7
63.9
12.2
12.4
71.6
75.3
'36.1
'39.2
22.0
'17.2
-3.7 -6.T
86.9 '87.6 '88.4 '87.4
66.0 '66.8 '66.9 '65.4
Current dollar cost per unit of
1958 dollar gross product
originating 2in nonfinancial
1.133 1.174 1.136 1.145 1.157 1.168 1.181
corporations
.107
.110
.107
.107
.108
.103
.723
.026
.109
.761
.028
.104
.722
.026
.105
.732
.027
.106
.745
.027
Corporate profits and inventory valuation adjustment
.174
Profits tax liability
.086
Profits after tax plus inventory valuation adjustment.. .088
.166
.086
.177
.084
.175 .170 .168 .165
.087 '.088 '.087 '.083
.080
.092
.088
r
.109
.111
.108
.755
.028
.110
.767
.028
.082 '.081 ''. 082
1. Excludes gross product originating in the rest of the world.
2. This is equal to the deflator for gross product of nonfinancial corporations, with the decimal
point shifted two places to the left.
3. Personal saving as a percentage of disposable personal income.
v Preliminary.
' Revised due to repeal of investment tax credit.
524.8
202.1
160 3
123 2
91 2
108 4
26 0
26 4
26 9
64 6
49*7
14.9
66 5
50 i
16 4
67 3
50*5
16 8
66 7
50 4
16 3
Rental income of persons.
Dividends
Personal interest income
21.2
23.1
54.1
21.6
24.6
59.3
21.2
23.6
54.8
21.4
23.8
56 7
21 5
23 8
57 6
21 6
24 3
58 8
21 7
24 9
59 8
21 8
25 2
61 1
59.2
66 1
33 3
33 7
65 5
60.1
61 6
63 6
64 9
30.3
33.1
30.9
31.8
32 4
32.9
2.1
7.2
2.1
8.2
2.1
7.1
2.0
7.3
2.2
7.8
67 2
19.7
22.0
20.0
20.5
21.3
19 2 2
82 84
21.9 22 2
22
86
22 6
22.6
26.2
22.9
23.3
25 4
25 9
27 0
97.9 117.5 102.6 107.0
26 6
114 2 118 5 117 5 119 8
Equals : Disposable personal income. . .590.0 629.6 593.4 604.3 610.2 .622.0 639.0 647.1
551.6 592.0 560.2 566.2 577.7 588.8 596.0 605 5
Less: Personal outlays
Personal consumption expenditures- 536.6 576.0 544.9 550.7 562.0 572.8 579.8 589.2
14.2 15.3 14.4 14.7 15.0 15.2 15.4 15.5
Interest paid by consumers
Personal transfer payments to for.7
.7
.8
8
eigners
..8
.7
.7
.7
Equals : Personal saying
38.4 37 (j 33 2 38 0 32 5 33 3 43 i 41 6
Addenda:
Disposable personal income :
Total, billions of 1958 dollars
Per capita, current dollars
Per capita, 1958 dollars
Personal saving rate,' percent
497.6 509.4 498.9 502.1 502.6 506 2 514.1 514 5
2 933 3 098 2 946 2 991 3 014 3 065 3 140 3 171
2,474 2 507 2,477 2 485 2*482 2*494 2 526 2*521
6.5
6.0
5.6
6.3
5.3
5.3
6.7
6.4
Table 11.—Personal Consumption Expenditures by Major Type (2.3)
Personal consumption expenditures
536.6 576.0 544.9 550.7 562.0 572.8 579.8 589.2
83 3
89 6
85 8
86 3
88 4
90 6
89 8
89 6
Automobiles and parts
37.0
Furniture and household equipment. 34.2
Other
12.1
40 3
35.9
13 4
38.6
35.0
12.1
39.0
34.6
12.8
39 4
35.5
13 6
40 0
36.8
13 8
40 8
35.8
13 2
40 9
35.6
13 1
Nondurable goods
Dollars
516.9
200.5
159 9
121 1
88 7
106 6
25 5
Durable goods
Gross product originating In
415.9 432.0 420.8 425.1 427.7 431.9 434.3
nonfinancial corporations
504.3
196.5
156 6
118 3
87 1
102 4
64 1
49.7
14.4
Less: Personal tax and nontax payments
47.7
493.3
191.5
153 3
115 5
85 4
100 8
25 0
Less: Personal contributions for
social insurance
43.0
Tfifi 4
482.1
187.8
150 7
113.1
82 0
99 2
64.1
49.3
14.8
23.9
44.6
756 5
470.7
183.0
147.4
110.8
78.9
97.9
24.5
23.6
26.4
74fl K
509.8
197.7
157.5
119.5
88 1
104.5
66 3
50.2
16.1
26.0
25.6
687 9 747 1 696 1 711 2 724 4
465.0
181.5
145.9
109.2
78.3
96.0
26.2
22.8
10.9
IV*
24.2
94.2 '95.1 '96.1 '95.3
72.1 '73.0 '73.3 '72.1
Billions of 1958 dollars
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
Compensation of employeesNet interest
.
92.1
70.2
300.6 328.8 303.7 311.0 318.7 326.2 333.2 337.1
268.6 293.3 271.5 278.2 284.2 291.1 297.3 300.8
- - 31.9 35.5 32.2 32.8 34.5 35.1 35.8 36.4
Net interest
III
Proprietors' income _
63.8
Business and professional . .
49.2
Farm
-.
_. _. 14.6
95.8
72.9
Income originating in nonfinancial
383.8 412.5 389.2 396.7 403.3 410.7 416.9
corporations
Compensation of employees
Wages and salaries
Supplements
-
Other labor income
91.7
70.2
Gross product originating In
471.4 507.3 478.0 486.8 495.0 504.5 512.8
nonfinancial corporations
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
Wage and salary disbursements
Commodity-producing industries Manufacturing. _ _
Distributive industries
Service industries
Government .
Transfer payments
Old-age, survivors, disability, and
health insurance benefits
State unemployment insurance
benefits .
Veterans benefits
Other
24.9
II
Table 10.—Personal Income and Its Disposition (2.1)
494.2 533.2 501.6 510.7 519.9 530.1 539.3
Net interest
I
Billions of dollars
l
Income originating in corporate busi403.5 435.1 409.6 417.4
ness
318.4 348.9 321.9 329.8
Compensation of employees
284.3 310.9 287.4 294.7
Wages and salaries.
34.1 37.9 34.5 35.1
Supplements
IV
Seasonally adjusted at annual rates
Billions of dollars
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
1969
_ ._
Food and beverages
Clothing and shoes.
Gasoline and oil..
Other
Services.
Housing... .
_.
Household operation
Transportation..
Other
230.6 243.8 233.3 234.3 238 6 242.1 245.1 249.4
115.0 120.0 116.1 116.4 118 4 119 1 119.9 122.6
46.3 49 9 47.4 47.3 48 1 50 0 50 8 50 6
19.1 21.3 19.5 19.5 20.4 21 0 21.8 22.0
50.1 52 7 50.3 51.1 51 8 52.0 52 7 54 2
222.8 242.5 225.8 230.1 235.0 240.1 244.9 250.2
77.4 83.7 77.9 79.8 81.3 82 8 84.4 86.3
31.2 33 5 31 6 31 9 32 7 33 1 33 9 34 2
16.1 17.5 16.3 16.5 17.1 17.3 17.7 17.9
98.1 107 8 100 0 101 8 103 9 106 9 108 8 111 8
Table 12. — Foreign Transactions in the National Income and
Product Accounts (4.1)
59.1
Receipts from foreigners...
50.6
55.4
53.4
50.6
47.6
57.1
57.8
Exports of goods and services
50.6
55.4
53.4
50.6
47.6
57.1
57.8
59.1
50.6
55.4
53.4
50.6
47.6
57.1
57.8
59.1
48.1
53.3
49.7
49.4
46.1
55.5
55.2
56.4
2.9
.8
2.1
2.6
.7
1.9
3.1
.8
2.3
3.1
.7
2.4
2.4
.7
1.7
2.8
.7
2.1
2.6
.8
1.8
2.7
.7
2.0
-.3
-.6
.6 -1.9 -1.0 -1.2
.0
-.1
Payments to foreigners
Imports of goods and services ...
Transfers to foreigners
Personal
Government
Net foreign investment.. _
SURVEY OF CURRENT BUSINESS
10
1969*
III
IV
I
II
III
1968
IV 9
1969* III
Table 13.—Federal Government Receipts and Expenditures (3.1,3.2)
79.5 95.6
38.3 40.4
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax
18.0
accruals
Contributions for social Insurance. . . 40.5
Federal Government expenditures
18.8
46.9
181.5 191.9
181.4 187.3
'198.6 '202.8 '201.3
83.7 87.4 93.8 96.9 95.0 96.6
38.4 39.8 "40.7 '41.0 '39.8
18.3 18.5
40.9 41.7
184.2
187.4
18.5 18.6
45.6 46.4
19.1 18.9
47.5 48.1
188.5 189.3 193.6
196.2
Purchases of goods and services
National defense
Other
99.5 102.0 100.9 101.9 101.6 100.6 103.2 102.7
78.0 79.3 78.8 79.3 79.0 78.5 80.3 79.2
21.5 22.8 22.1 22.5 22.6 22.1 22.9 23.5
Transfer payments
To persons ,
To foreigners (net)
47.8 52.3 48.7
45.7 50.4 46.5
2.1 1.9 2.3
Grants-in-aid to State and local governments
18.3
19.9
Net interest paid
11.6
13.0
Subsidies less current surplus of government enterprises
50.0
47.6
2.4
50.8 52.1 52.7
49.1 50.0 50.9
1.7 2.1 1.8
53.7
51,6
2.0
18.4
19.0
19.0
19.3 19.8
21.4
11.7
12.2
12.5
12.9 13.1 13.5
4.3
4.6
4.6
9.7 -2.8
4.4
4.6
4.4
4.6
4.9
-.1 '10.1 '13.5 '7.7
106.2
120.2
18.4 21.9
Personal tax and nontax receipts
Corporate profits tax accruals
3.0 3.1
Indirect business tax and nontax
59.9 67.8
accruals.
Contributions for social insurance. _ . 6.5 7.5
Federal grants- in-aid
18 3 19 9
State and local government expenditures .
107.6
Gross national product
122.3
128.1
122.9
124.2
125.7
127.3
129.0
130.5
118.6
123.6
118.9
120.4
121.4
122.9
124.3
125.8
Durable goods
Nondurable goods .
Services
Fixed investment ..
129.3 139.1 130.6 131.4 135 3 137.8 141.0 142.2
Structures
Producers' durable equipment. . 111.9 114.7 112.1 113.0 113.5 113.9 114.9 116.3
Residential structures.
Nonfarm
Farm
129.7 137.4 131.5 132.4 135.3 137.1 138.8 138.5
129.8 137.5 131.6 132.5 135.4 137.2 138.9 138.6
125.9 130.4 126.2 126 1 127 5 130 4 132.3 132.0
Change in business inventories
Exports
Imports
. .
108.0
18.9
3.0
111.4
19.5
3.1
61.1 62.9
6.6 6.9
18 4 19 0
114.5 118.5 121.9
Gross national product
20.5 21.5 22.6 23.3
3.1 3 1 3 0
64.8
7.1
19.0
67.1 68.9
7.4 7.7
19 3 19 8
70.4
8.0
21 4
Goods output. . .
Durable goods
Nondurable goods
-.7
-.7
-.8
3.5
-1.8
3.5
-2.1
36
—3 2 —5 6
45.9
49 1
27.4
.0
28 8
.0
Government surplus or deficit (—)»
national income and product
accounts
~6.7
—5.2
—15
125.9
— 9 —4 2
37
a A
46 2 46 7 47 7 48 6 49 6
27 5 27 9 28 2 28 6 29 0
.0
.0 . -0
.0
.0
50 5
9.0 —3.5
— .9
9 7 —2 8 — 1
— 7 — 7 — 8
139.0
32 5 33 3 43 1 41 6
'27.9 '27.0 '25.9
6 2
'8 3 '11 4
29 4
.0
'7 4
'10 1 '13 5 '7 7
3
1 8 0 -1
125 8 132 0
134 2 136 2 143 3 142 3
Gross private domestic investment. . 126.3 139.6 125.2 133.9
6 —19
Net foreign investment
—.3 — 6
Statistical discrepancy
—2.5 —6 2 —3 3 —3 4
135.2 137.4 143.3 142.4
o
1
j2
—1 0
* Preliminary.
' Revised due to repeal of investment tax credit.
—4 2
€ 5
69
146.9
128.1 122.9 124.2
113.0 117.1 113.4
125.7
119.0
108.5 111.6 108.7 109.7 110.3 111.1 111.9 112.9
116.4 121.4 116.8 117.7 118.8 120.9 122.3 123.9
134.1 137.0
102.5
104.4 102.3
103.6
Gross auto product .
127.3 129.0 130 5
114.2 115.1 116.6 117.7
134.6
136.4
138.2
103.7
139.8 j 142.6
144.2
142.0
142.9
139.4
104.4 104.4 105.1
Table 18.—Implicit Price Deflators for Gross National Product by
Sector (8.4)
-.3
' 130 2'131 3 '142 8
—6 1
141.8 145.3
36
Table 15.—Sources and Uses of Gross Saving (5.1)
37.6 33.2 38.0
26.3 26.5 27.8
122.3
140.3 132.9
Gross national product
38.4
26.7
139.5
141.2
Private
135.1 136 2 132 6 136.3
137.6
133.7
Addendum:
Surplus or deficit (— ), national
income and product accounts
-1.5
136.2
131.2
116.3 120 5 122 2 124 9
108.7
143.3
126.2 134.1 127.4 128.3 129.8 131.9 136.8 138.1
145.0 152.9 146.2 148.1 150.1 151.9 153.9 155.6
Services
108.5 112.3 113.8 116.2
11.0 11 3 11 6 11 9
.4
4
.4
.4
121.0
110.9 114.4 111.3 111.3 113.5 113.4 115.2 115.2
107.6 110.0 107.5 108.2 109.2 109.2 110.8 110.8
Table 17.—Implicit Price Deflators for Gross National Product by
Major Type of Product (8.2)
112.2
120,0 125.3 120.8 121.7 123.7 124.5 126.2 127.0
117.1 121.9 117.6 118.4 120 1 120.8 122.7 123.8
Nonresidential
Purchases of goods and services.
100.7 112.7 101.7 104.8
Transfer payments to persons
10.0 11.4 10 2 10.5
.4
.4
Net interest paid
.3
.3
Less: Current surplus of government
enterprises
3.4 3.5 3.5 3.5
Gross investment
103.3 105.7 103.4 104.5 104.9 105.5 106.0 106.6
117.1 122.2 117.5 118.8 119.8 121.5 123.0 124.6
127.3 133.5 127.9 129.5 131.0 132.7 134.2 135.9
Gross private domestic investment ,
Structures .-
Federal
State and local..
IV»
Personal consumption expenditures
Government purchases of goods and
services
135.0
Table 14.—State and Local Government Receipts and Expenditures
(3.3, 3.4)
Personal saving
Undistributed corporate profits
Corporate inventory valuation adjustment
Corporate capital consumption
allowances
Noncorporate capital consumption
allowances
Wage accruals less disbursements ....
I][I
Table 16.—Implicit Price Deflators for Gross National Product (8.1)
Federal
State and local
Gross private saving.
II
Net exports of goods find services. .
Surplus or deficit (—), national
-5.2
income and product accounts
State and local government receipts
I
Index numbers, 1958=100
Billions of dollars
176.3 201.6
IV
Seasonally adjusted
Seasonally adjusted at annual rates
Federal Government receipts
1969
1968
1969
1968
1968
January 1970
122.3
128.1 122.9
118.9 124.2
119.4
124.2
125.7
127.3
129.0
130.5
120.6
122.0
123.6
125.0
126.4
Business
Nonfarm
Farm
118.0 123.3 118.5 119.7 121.1 122.6 124.0 125.3
118.5 123.6 118.9 120.1 121.6 122.8 124.3 125.6
106.8 114.7 107.8 107.9 108.5 116.3 115.0 119.3
Households and institutions ..
158.6 165.3
General government
159.4
170.6 161.3
163.6
165.6 167.5
173.7
175.3
HISTORICAL DATA
Historical national income and product data are available
from the following sources:
1965-68: July 1969 SURVEY OF CURRENT BUSINESS.
1964: July 1968 SURVEY OF CURRENT BUSINESS.
1929-63: The National Income and Product Accounts of the
United States, 1929-65, Statistical Tables (available from any
U.S. Department of Commerce Field Office or from the Superintendent of Documents, U.S. Government Printing Office,
Washington, D.C. 20402, price $1.00 per copy).
The Economy in 1969
EXPANSION of the Nation's economy, virtually uninterrupted for close
to a decade, continued in 1969. Real
growth last year was modest, however,
and the expansion slowed as the year
progressed. Labor productivity declined,
profits were squeezed, and costs and
prices continued to climb despite an
intense effort to stem inflation. The
year was one of stress and uncertainty,
as the pressures of anti-inflationary
policy grew stronger even as the problems and distortions of inflation itself
were undiminished. One measure of the
Nation's international position—the
liquidity balance—deteriorated sharply;
but the balance on the official settlements basis showed a large surplus, a
development attributable to financial
flows associated with restrictive monetary policy in this country.
The pressures generated by very substantial fiscal and monetary restraint
were a dominant feature of 1969. The
interval since the latter part of 1968
has marked the first sustained period in
recent years during which fiscal and
monetary policies were unambiguously
operating in the same direction, and a
clear deceleration of the economy's
growth was in fact achieved. Yet 1969
saw the upward march of prices not
only continue across a broad front but
actually accelerate. This ran counter to
the widely held expectation that at least
some improvement in price and cost
behavior—certainly not a deterioration
—would accompany a slowdown in real
growth as pronounced as that experienced over the past 18 months. A
further paradox is presented by the
virtual stability of the unemployment
rate, which at yearend still hovered
around 3K percent.
Developments in 1969 made abundantly clear how difficult it is to stem
an inflationary tide as strong as that of
recent years. To a considerable extent,
the year's course of events was affected
by attitudes and expectations shaped
by 4 years of inflation and nearly a
decade of virtually
uninterrupted
growth. When businessmen and conCHART 6
Real growth decelerated...
Percent Change From Previous Quarter
_ REAL GNP (Annual rate)
but the unemployment rate rose only slightly
Percent
and inflation was unabated
Percent Change From Previous Quarter
IMPLICIT PRICE DEFLATOR
TOTAL GNP
(Annual rate)
1968
1969
Seasonally Adjusted
Data: OBE-BLS
U.S. Department of Commerce, Office of Business Economics
70-1-6
sumers feel, as many apparently have,
that inflation is inexorable and a significant interruption in growth unlikely,
their attitudes can easily contribute to
sustaining inflation. Such attitudes can
intensify the pressure for price and
wage increases and dampen resistance
to increases; they seem to have stimulated capital investment in 1969 and
may well have affected inventory
policies; and they can encourage labor
hoarding in the face of slower growth,
a phenomenon which likely contributed
both to the stability of the unemployment rate last year and to the decline
in labor productivity.
Despite the persistent rise of prices
and costs, it was apparent by yearend
that the impact of restraint was being
felt in growing measure. Stripped of the
effects of inflation, the Nation's aggregate output was at a virtual standstill;
factory production was falling and
severely tight credit conditions had
pushed homebuilding into a steep
decline. Incomes were growing barely
fast enough to offset rising prices and
consumer demand was sluggish. Profits
were caught in a tightening squeeze
between rising costs and slackening
demand.
Production in 1969
The Nation's output of goods and
services last year had a value of $932%
billion at market prices, up $66 % billion
or 7% percent from 1968. Physical
volume grew less than 3 percent,
however, and thus a very large share of
the advance in GNP resulted from the
rise in prices. Averaged for the year as
a whole, prices of the goods and services
11
12
comprising GNP rose 4% percent,
the sharpest increase since 1951. The
rise of prices thus continued to accelerate; it was 4 percent in 1968 and
3# percent in 1967, and only 1% to IK
percent in the early years of the decade.
Last year's $66% billion increase in
current dollar GNP was about $5%
billion smaller than the increase in
1968. One factor contributing to this
difference was the sharp cut in the
growth of Federal Government purchases, particularly for national defense.
Consumer buying and residential construction also contributed much less to
overall GNP growth in 1969 than in
1968. Spending for nonresidential fixed
investment, on the other hand, was up
$10% billion in 1969, compared with
$5 billion in 1968 and only $2 billion
in 1967. Capital spending was thus once
again providing a strong expansionary
thrust as it had earlier in the sixties.
Capital spending loomed even larger
in real terms. In constant dollars, it
accounted for about one-fourth of the
year's overall growth in output. Constant dollar GNP grew $20 billion from
1968 to 1969, a gain far smaller than
the $33 billion in 1968. Save for the
rise of $16% billion in 1967, the year
of the so-called mini-recession, last
year's gain in constant dollar GNP
was the smallest since 1961.
The remarkable feature of 1969 was
the progressive slowing during the
year in the growth of output—measured
either in current prices or in real
terms—and the accumulating evidence
of weaker conditions in the second
half. The rise in real output between
1968 and 1969 was less than 3 percent,
but the rise within the year was even
more modest. The growth of constant
dollar GNP had already dropped during
the second half of 1968 from the veryhigh annual rate of more than 7
percent registered in that year's second
quarter. A further deceleration in
1969 culminated with no change in the
fourth quarter, and real output in that
period was little more than 1% percent
larger than it had been in the fourth
quarter of 1968.
Most major demand sectors showed
less strength in the second half of the
year than in the first. This was true not
only of consumption and residential
SURVEY OF CURRENT BUSINESS
January 1970
construction, but even of captial spend- ment due in some measure to depressed
ing—though survey evidence points to conditions in the markets for those
substantial further growth in that governments' securities and to the
sector this year. The growth of State severe problems that statutory interest
and local government spending also rate ceilings posed for many governmoderated after midyear, a develop- ments in marketing their debt.
Income and Consumption
THE growth of consumption spending
in 1969 was more modest than the very
large increase posted in the preceding
year. For the year as a whole, spending
was up $39% billion, just about equal
to the increase in disposable income.
With none of the addition to income
being saved, the average ratio of
saving to income dropped from 6.5
percent in 1968 to 6.0 percent last year.
A more significant development, however, was the upturn of the saving ratio
during the course of 1969, reversing an
18-month downtrend. From a relatively
low 5.3 percent in the first half of the
year, the ratio jumped to an average
6.6 percent in the second half.
When the income tax surcharge was
imposed at mid-1968, the saving ratio
was already moving down from the
quite high level maintained in 1967.
The initial response to the jump in
taxes was a steep further decline in the
ratio, as consumption continued to
show substantial gains. The growth of
consumption spending between mid1968 and mid-1969 was well in excess of
the growth of disposable income, and
the saving ratio in that period averaged
only 5.6 percent. This was a relatively
low figure by past standards and far
below the 7.4 percent of 1967. Associated with the drop in the saving ratio was
a sustained very strong expansion in the
volume of consumer credit outstanding.
In the wake of these developments,
an upward shift in the saving ratio was
not surprising. Moreover, the evidence
of attitude surveys during the year
suggested that consumers grew increasingly concerned over the economy,
the outlook, and the general state of
the world. It is not uncommon for a
sense of unease to be reflected in a
dampening of the desire to spend.
Income growth slows
Personal income was $59 billion larger
last year than in 1968, an increase
slightly bigger than the preceding year's
in dollar terms but smaller in terms of
percentage growth. The bite taken by
taxes was much larger last year because
the surcharge was in effect for the full
year. Higher prices absorbed a very
substantial share of the gain in aftertax income, and after allowance for
population growth the real value of per
capita disposable income was only very
modestly larger in 1969 than in 1968.
The heavy impact of taxes was in the
first half, when incomes were hit by
large final payments of 1968 liabilities.
(Final payments were large because
added withholding for the surcharge did
not fully cover the added tax liability.)
Disposable income rose strongly in the
third quarter, when the tax take
dropped from the inflated level, but
further expansion of disposable income
was moderated by a slowdown in the
growth rate of pretax income. In terms
of real value per capita, disposable income rose noticeably only in the third
quarter.
January 1970
SUEVEY OF CUREENT BUSINESS
Consumer spending
services, also contributed substantially
to the observed rise in market demand.
The growth of consumption spending
during the course of 1969 was quite
modest, especially after the saving rate
turned higher at midyear. The average
quarterly increase was less than $10
billion, compared with a $12 billion
average in 1968. Spending for services
grew about $5 billion per quarter
throughout the year, reflecting a fairly
steady expansion of real volume coupled
with an ongoing rise in prices. Spending
for goods, on the other hand, slackened
during the year. A declining share of the
consumption dollar was spent for nondurables and the gains in that category
represented little growth in real volume.
The drop in the share of nondurables in
total consumption was in line with the
long-term trend, which has largely
reflected the fact that, both in current
prices and real terms, spending for food
has grown much less rapidly over time
than other types of consumption. There
has been an offsetting shift toward
services.
Price increases accounted for a large
part of the observed growth in consumer
spending last year. Had it not been for
price changes, purchases of nondurable
goods would have been scarcely more
than 1 percent larger in 1969 than in
1968; as it was, spending on nondurables was up more than 5% percent.
In the case of durable goods and
services, the real volume of purchases
showed larger gains between the 2
years but price increases, especially for
CHART 7
Personal Income and Its Disposition
Personal income grew strongly
through most of 1969 ...
Billion $ Change From Previous Quarter
and the rise in taxes slowed
10
TAXES
n
0 -L-L—
fin
nHn
nn
m
13
Durable goods weaker
Spending on durable goods turned
clearly weaker after mid-1969. The
downturn of new car sales in the latter
part of the year contributed to the
weakening in durables consumption,
but spending for other hardgoods was
decidedly slack. In the minds of many
consumers, purchases of furniture and
appliances are considered to be easily
postponable and it would not be
surprising to see the demand for
household durables turn slack in a
period when consumers grow increasingly uneasy, as they apparently did
during 1969. The drop in housing starts
may also have dampened spending for
household durables.
Auto sales are of course also vulnerable to shifts in sentiment. Although
short-term fluctuations made for a
rather unclear picture last year, the
pace of new car buying was clearly
weaker in the fall and winter. Total
1969 sales of domestic models were
8.5 million units, less than 200 thousand
below the 1968 total. Part of the drop
was offset by sales of foreign makes,
which grew about 100,000 units to a
total of some 1.1 million.
Although disposable income grew substantially
20
10
DISPOSABLE PE 3SON M NCOR/IE
'M n
n
n
n
the growth of consumer spending moderated.
20
PERSONAL
CONSUMPTION
EXPENDITURES
r^
1—I
GOOL s
10 -
j—I
n 1
nRnR
-
n
- -
lit fl
r
and the saving rate increased
Percent
10
PERSONAL SAVING RATE
Nonresidential Fixed Investment
CAPITAL spending last year was a
major expansionary force, as it had
been earlier in the sixties. After 4 years
of booming growth, spending had
stabilized in 1967, but a renewal of
strong growth developed during 1968.
The increase last year was substantial,
and survey evidence available toward
yearend showed expectations of a
sizable further rise in 1970.
Thrust from capital investment
1967
'
1968
'
1969
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
70-1-7
Spending for nonresidential fixed
investment last year totaled $99%
billion, up $10% billion or almost 12
percent from the total for 1968. The
advance was large enough to lift the
share of nonresidential investment in
total GNP back near the level reached
in 1966, the culminating year of the
earlier investment boom. Although the
growth rate of investment spending
slowed during the year, its deceleration
was milder than that of total GNP and
its share in the total continued to grow.
In the final quarter of 1969, spending
on fixed investment was 12% percent
higher than it had been a year earlier
and accounted for 10.8 percent of
GNP—a proportion as high as those
recorded during 1966. Last year's
increase in capital spending was not
due solely to price increases. Even
after allowing for the effects of substantially higher prices, there was
moderate growth in the amount spent
14
SUEVEY OF CUEKENT BUSINESS
January 1970
for structures and a stronger rise in
spending for equipment.
CHART 8
Nonresidential Fixed Investment
Increased substantially in 1969, though growth tapered during the year
Investment determinants
The resumption of substantial growth
in capital spending occurred in a period
in which the factors generally assumed
to influence investment demand were
behaving in a way that would have
seemed to suggest a weakening. By
just about any available measure, profits have been under pressure for some
time—not just in 1969, when a decline
occurred in the second half. Strong
growth in profits, and thus in cash flow,
characterized the first 5 years following
the recession trough in 1961. That trend
peaked out in 1966 and profit growth
since then has been sluggish, with aftertax profits additionally slowed by the
imposition of the surcharge. Since 1965
there has been a steady decline in the
ratio of after-tax profits to the total
income originating in corporate business, i.e., a decline in the share left
after payment of other income claims,
principally labor compensation, and
taxes. Over that same period, labor
cost per unit of output has been rising
steeply after a long period of stability.
The tightness of credit conditions
during 1969 is another factor that
might have been expected to dampen
investment demand. Interest rates on
borrowed funds soared to extraordinarily high levels and borrowers encountered difficulty simply finding
credit. At the same time, price tags of
investment projects were rising rapidly.
While capital investment grew costlier,
the economy's growth rate was slowing
and the rate of capacity utilization in
manufacturing—a sector for which that
measure can be calculated—held at the
relatively low level reached after the
sharp drop in 1967.
Percent Change From 4th Qtr. of Previous Year
Percent Change
20
20
5 -
The ratio of fixed investment spending to GNP moved close to the high 1966 figure
Percent
12
Percent
12
10
J
1963
64
65
66
67
68
69
_L
L
II
III
IV
1969
Seasonally Adjusted
U.S. Department of Commerce, Office of Business Economics
portant role in investment decisions
over the past year. Augmenting this
was an apparent desire to offset sharply
rising labor costs and to do so sooner
rather than later, when capital goods
prices would presumably be still higher.
Expectations—of sustained price and
cost advances, of little or no decline in
interest rates, of little interruption in
growth—appeared to have a significant
effect on investment behavior last year.
It seems that these forces continue to
be important. Although the growth rate
of capital spending slowed during the
course of 1969, and the deceleration of
the economy's growth was obvious,
surveys late in the year found expectations of further strong advances in
capital spending on into the current
year.
Housing
HIGH and rising interest rates, and a ally adjusted annual rate in last year's
reduced availability of mortgage credit first quarter and then declined over the
One reason for the strength of capital and of credit to finance construction, remaining three quarters. Preliminary
investment, in the face of negative severely impeded activity in the hous- data show a fourth quarter average of
signals from many conventionally ac- ing industry last year. Homebuilding about 1.3 million units, putting the
cepted indicators, is an apparent growth thus once again went into a steep de- decline during the year at a pace
in the tendency to plan business invest- cline, after only 2 years of recovery from averaging about 9 percent per quarter.
ment with a long-run perspective. A the sharp contraction during 1966. In the previous contraction, starts desense of need for capacity to meet Starts of new private dwellings reached clined from the fourth quarter of 1965
future demands seemed to play an im- a peak of 1.7 million units at a season- through the fourth quarter of 1966 at an
Expansionary influences
SUEVEY OF CURRENT BUSINESS
January 1970
average average quarterly rate of about
llYz percent. There is strong reason to
expect the latest decline to continue
into 1970; whether it will become
steeper is uncertain.
Single homes versus apartments
The slide in homebuilding was most
pronounced in the single family sector
during the spring and summer last year,
but the decline in single unit starts
tapered toward the end of the year. In
contrast, the decline in multifamily
starts was relatively moderate until late
in the year, when there was a steep
drop in starts of units in structures with
five or more units. These larger buildings account for most of the starts in
the multifamily sector.
It appeared last year that financing
was more readily obtainable for apartment construction than for single family
homes. Moreover, apartment builders
would presumably be more willing to
pay the prevailing high interest rates,
and would not generally be affected by
the usury law ceilings that hindered
home mortgage lending in some States.
These factors, together with the strong
market demand for apartment dwellings, could have been expected at least
initially to cushion the decline in
multifamily starts.
Construction outlays
Residential
investment
outlays,
which follow developments in starts,
also rose in the first quarter and fell
thereafter. The decline, however, was
less steep than that in starts. This was
partly because changes in outlays lag
after changes in starts and partly
because outlays include investment in
additions and alterations, which is
less sensitive than new construction.
To a great extent, however, the rise in
construction costs was the factor dampening the decline in outlays. For the
full year, current dollar outlays totaled
$32 billion, up $2 billion from 1968.
In real terms, however, spending was
unchanged from 1968 to 1969—paralleling the stability of starts, which totaled
1.5 million units in each year.
New Private Housing Units Started
Million Units (ratio scale)
2.0
Total
1.5
1.0
.9
.8
.7
1963
64
65
66
67
68
69*
Seasonally Adjusted at Annual Rates
"October-November average plotted for fourth quarter.
Data: Census
U.S. Department of Commerce, Office of Business Economics
70-1-9
alternative to an apartment. The pressure of housing demand against supply
is nevertheless great, as reflected in the
rapid increase of rents and housing
prices, and in homeowner and rental
vacancy rates which have reached
their lowest levels in more than a
decade.
Mortgage markets tight
The ongoing decline in homebuilding
activity comes at a time when the
underlying demand for housing is very
strong. For several years, starts have
failed to meet the requirements for
replacement and new family formation,
and a serious shortfall has developed
between starts and needs. The strong
expansion in mobile home production
in recent years has helped narrow this
gap. Mobile homes—many of which are
not very mobile at all—are meeting
some of the demand for shelter that was
formerly met by construction of low
cost single family houses; for some
households, mobile homes are also an
The depressed state of the mortgage
market was the major factor in last
year's decline in homebuilding. The rise
of interest rates to record highs attracted funds away from the thrift
institutions—the major mortgage lending group—to higher yielding market
investments. The lending ability of
commercial banks was under severe
pressure, and insurance companies were
hit by a renewed surge—as in 1966—
of borrowing by policy-holders. In
addition, the rise in mortgage yields,
although striking, trailed that in the
bond market and there was a strong
incentive for lenders to shift away from
mortgage investments. Another factor
adversely affecting mortgage markets
in 1969 was the existence of usury laws,
which in some States severely curtailed
lending because the going rates on
mortgages rose above the ceilings imposed by the laws. The Federal Home
Loan Bank System and the Federal
National Mortgage Association worked
hard to sustain the flow of mortgage
credit last year. The Home Loan Banks
stepped up their advances to member
savings and loan associations and
thereby helped to offset the impact of
lower deposit flows, while the FNMA
provided major support by substantially enlarging its operations in the
secondary market for Governmentinsured mortgages.
INVENTORY
accumulation
by
business was somewhat larger in 1969
than in 1968, and accounted for $700
million of the total expansion in GNP
last year. In the preceding year, inventory accumulation was steady and
thus made no net contribution to the
growth of aggregate production, while
Housing shortages
CHART 9
15
SURVEY OF CUEKENT BUSINESS
16
1967 saw a steep drop in the accumulation rate which offset a good part of
that year's rise in final demand.
In 1969, the rate of inventory investment was moderate in the first half but
rose appreciably in the third quarter.
A large part of that rise was in durable
goods, centered at automotive retailers.
The investment rate dropped back in
the fourth quarter.
Business inventories and sales
For the past 2 years there has been
fairly steady growth in the size of additions to the book value of inventories
CHART 10
Inventory-Sales Ratios
Were relatively stable in 1969 for
manufacturers and wholesalers
Months of Sales
2.5
January 1970
held by the manufacturing and trade Durable goods retailers
Some involuntary accumulation did
firms but the overall inventory-sales
occur
in the latter part of last year,
ratio for these firms has been generally
largely in automobiles. The buildup in
stable. However, evaluations by manudealers' stocks prompted a substantial
facturers during 1969 indicated a con- cutback in factory assembly operations.
tinuing deterioration of their inventory New car sales continued to be sluggish,
positions in terms of the proportion of however, and at yearend retail auto
stocks considered excess relative to inventories were still high relative to
sales.
sales and unfilled orders.
The aggregate stock-sales ratio for
There has nevertheless been little
other
durable goods retailers looked
evidence of a strong effort to curtail
to be clearly on an uptrend in the latter
holdings except in the case of automo- part of 1969, seeming to corroborate
biles. The high and rising cost of credit the reports late in the year that conmust surely have provided businessmen sumer buying of household durables—
for some time with a strong incentive especially the "big ticket" appliances—
to pay careful attention to inventory was turning decidedly sluggish. Elsepolicy. That policy is in fact probably where, however, the evidence of the
being determined only to a small extent inventory-sales ratios gave little suggestion of undesired accumulation, but
by current activity, with heavy weight
if inventory policy has been based
given to expectations of continued heavily on overly optimistic expectaprice inflation and of sizable sales tions, a cutback in the investment rate
could yet occur.
expansion in 1970.
Durable Manufacturers
2.0
Government Expenditures and Receipts
1.5
Nondurable Manufacturers
1.0
Nondurable Wholesalers
. i , . . . , 11 . . . . i
However, the ratio for automotive
retailers rose sharply
Other Durable Retailers
3.0
2.5
2.0
Automotive Retailers
1.5
Nondurable Retailers
i.o
1 967
1 968
Seasonally Adjusted
1 969
Data: Census
U.S. Department of Commerce, Office of Business Economics
THE direct impact of government on
the increase in demand was considerably less in 1969 than in 1968. Purchases
of goods and services by all governments totaled $215 billion, up $14%
billion from 1968—accounting for only
22 percent of the gain in total GNP,
compared with 28 percent in 1968 and
over 50 percent in 1967. Larger nondefense purchases (including those of
State and local governments) accounted
for roughly 20 percent of the total
GNP rise, about the same as in the
previous year; the shift in government
impact was due to a marked slowdown
in defense purchases.
Other types of government expenditures, such as transfer payments and
interest, were up $7% billion in 1969,
bringing the rise in total expenditures
by governments to about $22 % billion
(NIA basis). For the second consecutive year, receipts grew more than
expenditures. The $37 billion advance
was a record, the result of increased
yields from existing taxes on a rapidly
expanding tax base and new or higher
tax rates at all levels of government.
Also, the Federal surcharge on individuals and corporations was in effect for
the entire year and this alone accounted
for about one-third of the rise in total
government receipts.
The Federal Government recorded a
surplus of nearly $10 billion, the largest
of the decade and the first since 1965.
The surplus was more pronounced in
the first half of the year, when receipts
were boosted by unusually large income
tax settlements resulting from the tax
surcharge. Also contributing to shrinkage of the surplus after mid-1969 was
the fact that expenditures were augmented by a large pay raise for government workers at midyear.
State and local governments con-
January 1970
tinued in deficit for the third consecutive
year. Expenditures exceeded receipts
by nearly $1 billion, despite growing
surpluses of employee pension funds
and new or increased taxes at all levels
of government.
FEDERAL GOVERNMENT
Federal Government purchases of
goods and services totaled $102 billion
in 1969, up $2% billion for the smallest
advance since the Vietnam buildup
began in 1965. The spending rate
declined during the course of the year,
save for the third quarter when the
Federal pay raise boosted the level of
civilian and military employee compensation. Defense purchases dropped
in every quarter except the third, while
the increases in nondefense purchases
were much smaller than in 1968.
For the year as a whole, defense
purchases were up less than $1%
billion, compared with an average gain
of over $9 billion in the 3 preceding
years. All the growth last year was in
employee compensation. Of the more
than $2 billion increase in compensation,
about $1% billion resulted from the
mid-1969 civilian and military pay
raise and over $}£ billion was an effect
of the raise in mid-1968. Wage rates of
many blue collar workers, which are
determined locally by independent wage
boards, were also raised in 1969. The
decline in other defense purchases,
which include equipment, construction,
research, etc., was the first since 1965.
Federal nondefense purchases advanced only $1# billion last year, far
less than the record $3 billion in 1968.
The difference was largely centered in
Commodity Credit Corporation purchases, which declined slightly in 1969
after rising susbtantially in 1968.
SUEVEY OF CURKENT BUSINESS
what more than $1% billion, only about
half as much as in 1968 when benefit
rates were raised. Another benefit
increase is scheduled for April 1970, to
be retroactive to the start of this year.
Medicare transfers amounted to nearly
$6% billion last year, up $1 billion from
1968. Increased utilization and rapidly
rising hospital and medical costs have
pushed medicare spending up continuously since the program began in 1966.
Larger benefits for veterans accounted
for $1 billion of the 1969 rise in transfers—due mainly to benefits for returning Vietnam veterans. Federal pension
CHART 11
Federal Budget (NIA Basis)
Defense purchases stabilized in 1969
but other expenditures continued to grow
Billion $
100
80
Billion $
(ratio scale)
. EXPENDITURES
Transfer Payments
and Other v
60
40
payments advanced sharply owing to
cost-of-living increases and certain other
adjustments provided for by recent
legislation.
Grants-in-aid to State and local
governments grew more than $1^
billion to a total of nearly $20 billion.
Public assistance grants—mainly for
aid to dependent children and medical
assistance—showed a big advance, reflecting a very large increase in the
number of recipients with average
benefits little changed. Highway grants
were held back as a means of limiting
budget expenditures, and the year's
total was down some $K billion from
1968.
Net interest paid amounted to about
$13 billion in 1969, up a record $lj^
billion due to higher interest rates and
a larger public debt. The rise in market
interest rates accounted for over fourfifths of the increase. Subsidies (net
of the current surplus of government
enterprises) recorded a modest gain
after declining the two previous years.
The increase was the result of higher
government payments to farmers, principally because of increased participation in the feed grain program, and a
larger Post Office deficit.
15
v
Nondefense Purchases
(right scale)
I
10
.
Continued large gain in receipts
1 . I
The growth of receipts, which had been boosted
by imposition of the surcharge, slowed in the
second half...
250
RECEIPTS
200
100
80
and the budget surplus shrank
Transfer payments keep growing
Other types of Federal expenditures—
transfers, grants, interest, and subsidies—amounted to almost $90 billion
in 1969, up $7% billion for the smallest
increase since 1965. As in the past few
years, transfer payments to persons
were the strongest element in the
advance.
OASDHI payments increased some-
17
1963
64
65
66
67
68
69*
Half Years, Seasonally Adjusted at Annual Rates
*second half, preliminary.
U.S. Department of Commerce, Office of Business Economics
70-1-11
For the second year in a row, Federal
receipts grew about $25 billion, reaching over $200 billion in 1969. About $16
billion of the rise was due to increased
yields of existing taxes; over $5% billion
was due to the surcharge on personal
and corporate taxes and the rest to an
increase in the social security tax rate.
Corporate profits tax accruals grew
rather little, as the expansion of profits
slowed sharply, but growth in personal
tax and nontax receipts was a record
$16 billion. The factors in that rise
included the rise in withholdings associated with continued large gains in
personal income, higher withholdings
due to the surcharge being in effect the
full year, and the unusually large final
settlements of 1968 liabilities.
Contributions for social insurance recorded a sharp gain of nearly $6%
billion. About $5% billion of the rise
was in OASDHI contributions; of this,
about $3 billion was accounted for by
SUEVEY OF CURRENT BUSINESS
18
the January increase in the combined
social security tax rate from 8.8 to 9.6
percent. No increase in either the tax
rate or the wage base is scheduled in
1970, but the monthly payment for
voluntary supplementary medical insurance (medicare) will go from $4 to
$5.30 effective July 1.
January 1970
taxes increased over $2 billion. The
billion, boosted by rising incomes
general sales tax has become the major as well as new or higher tax rates in
source of revenue at the State level and many States. Corporate income tax
is currently levied in 45 States. Last accruals advanced only slightly, howyear, 12 States increased existing ever, and part of the rise was attributgeneral sales taxes and Vermont estab- able to increased corporate tax rates
in 13 States and new corporate levies
lished a new one.
Personal tax and nontax receipts rose in two States.
STATE AND LOCAL
GOVERNMENTS
State and local governments purchased nearly $113 billion of goods and
services in 1969, $12 billion more than
in the previous year. The rate of spending growth was slower in the second
half of the year.
The advance in purchases of goods
and services was again concentrated
in employee compensation, as employment and average pay continued to
increase. Nearly 400,000 workers were
added to State and local payrolls,
largely in education. Other expenditures, such as transfer payments and
net interest, grew a record $1% billion.
Nearly all the gain was in transfer payments, as the number of persons receiving aid surged past 10 million. Almost 5
million children, or 7 percent of all
persons under 18 years of age, and over
2 million elderly, or 10 percent of those
65 and over, were on the welfare rolls
at mid-1969.
Despite rapidly rising interest rates,
net interest payments barely advanced.
Bond issues were sharply curtailed.
Some States and localities were unable
to sell bond issues because of ceilings
on the rates they could pay, and governments hesitated to sell long term debt
at prevailing high interest rates even
when they legally could; borrowing in
short term markets was stepped up,
however. State and local governments'
interest receipts from investment of
pension iunds and idle cash balances
benefitted from the high market rates.
Receipts continue to grow
Receipts of State and local governments totaled $120 billion in 1969,
up $14 billion from the previous year.
Property taxes accounted for more
than $4 billion of the rise, while sales
Labor Markets
LABOR market conditions remained uncertain over job prospects—was very
generally tight in 1969, though some high. By yearend, nevertheless, emevidence of easing developed late in the ployment growth was not only much
year. Averaged for the year, employment was up sharply, the civilian labor
force recorded the largest percentage
CHART 12
increase in many years, and the unemployment rate inched down from
Unemployment Rates
3.6 to 3.5 percent.
The rate edged higher last year for all
The expansion of both labor force
civilian workers...
and employment was most marked
early in the year. The subsequent Percent (ratio scale)
slowing was in line with other evidence
of easing conditions, such as a decline
in the average workweek. The unemployment rate showed some rise late
in the year, but it remained low both
for the aggregate of civilian workers
and for the major population groups.
A striking development of 1969 was
and for each of the major population groups
that the unemployment rate edged up 20
so little during the year. Past history
would suggest a measurable increase in
a period when real growth decelerated
Teenagers
and reached as weak a pace as that
(16-19 years)
recorded last year. A tendency to hoard
labor may have contributed to the
behavior of the unemployment rate.
Adult Women
To the extent that attitudes were
shaped by years of tight labor markets,
employers would hesitate to cut back on
hiring or to lay off workers, especially if
they expected that any adjustment in
the economy would in fact be only a
brief and mild interruption.
Adult Men
In manufacturing, where labor force
adjustments have historically been relatively sensitive, the layoff rate held at a
1963
1964 1965 1966 1967 1968 1969
Seasonally Adjusted
low level and the quit rate—which
Data: BLS
generally eases when workers grow U.S. Department of Commerce, Office of Business Economics
70-1-12
SUEVEY OF CUEKENT BUSINESS
January 1970
slower than earlier in 1969 but also
much less pervasive; the number of
workers in manufacturing was declining
and employment growth was heavily
centered in services and State and local
governments.
Productivity declines
A slowdown in real growth is typically
accompanied by a weakening in labor
productivity, since workforce adjustments lag. Thus some deterioration of
productivity behavior was to be expected last year, and any intentional
hoarding would have added to the
downward pressure. Though the growth
of man-hours in the private, nonfarm
economy did slow, it exceeded output
growth and productivity showed the
first sustained decrease since 1960.
Workers9 compensation rises
Hourly compensation continued to
rise rapidly, and unit labor costs consequently increased at a fast pace. In the
third quarter, man-hour productivity in
the private nonfarm economy was unchanged from a year earlier but compensation per man-hour was up 7 percent.
The rise in workers' pay last year,
though rapid, barely outpaced the rise
in consumer prices. After taking account of taxes as well, that hypothetical
but significant person—the average
nonsupervisory worker—found that in
real terms his spendable pay was showing no growth and in fact was edging off
a bit. This trend is likely to figure
importantly in labor-management negotiations this year, when contract expirations will involve an unusually large
number of workers.
19
Lumber prices rose steeply in 1968 and
early 1969 and then dropped very
sharply from the spring through the
summer. The decline was so steep that
it significantly dampened the rate of
increase of the overall industrial price
index. In the fall and winter, when this
effect was absent, the rise in the
industrial index accelerated. At yearend
the index was up 4 percent from the
end of 1968.
CHART 13
Prices
The rise in prices accelerated in 1969 in
consumer markets...
Percent Change From 4th Qtr.
-
6
-
I
4
-
2
1
0
of Previous Year
2
4
6
1
CONSUMER INDEX
TOTAL
Food
Prices
PEICE increases last year were both
large and widespread. The GNP price
deflator—the broad measure of the
prices of the goods and services comprising GNP—rose more than 1 percent
each quarter. Averaged for the year,
the deflator was about 4% percent
higher than in 1968, the largest annual
increase since 1951.
Price increases in consumer markets
during 1969 were larger than in the
previous year. The overall consumer
index rose about 5% percent from the
end of 1968 to the end of 1969, an
advance considerably in excess of the
substantial rise of 4% percent during
1968. Food prices contributed importantly to last year's large increase,
with particularly sizable advances recorded for meats. Prices of nonfood
commodities rose rapidly throughout
the year and at yearend were up well
over 4 percent from the end of 1968.
The rise was more pronounced for
nondurable than for durable goods;
apparel prices increased very sharply,
especially during the last half of the
year. The price rise for consumer
services continued to outpace that for
commodities. Led by a continued rapid
advance in medical costs, and a pronounced rise in homeownership costs
that was closely related to the climb
in mortgage interest rates, the price
index for consumer services rose more
than 7 percent over the course of 1969.
Eeffecting large increases for both
agricultural and industrial products,
the average price level in wholesale
markets rose nearly 4% percent from
the final quarter of 1968 to the final
quarter of 1969. Prices of farm products
and foods and feeds scored most of
their increase early in 1969, but continued to rise throughout the year.
The index for industrial commodities
was significantly affected by the price
behavior of lumber and wood products.
Nonfood
Commodities
as well as at wholesale
WHOLESALE INDEX
TOTAL
Industrial
Commodities
Farm Products**
I
L
*Based on average for Oct.-Nov. 1968 and 1969.
**Seasonally adjusted.
U.S. Department of Commerce, Office of Business Economics
I
Financial Developments
THE monetary authorities pursued a
vigorous program of credit restraint
interest Rates and Bond Yields
throughout 1969. The combination of
a tight monetary policy and heavy demand for funds resulted in severe credit
market pressures that intensified as the
year progressed, and pushed interest
rates to unprecedented levels.
In implementing its tight credit program, the Federal Reserve System did
not restrict itself to the use of openmarket operations, but relied on all its
major policy tools. The discount rate
and the reserve requirements on demand deposits were increased, and it
was decided not to raise the Regulation
Q ceilings on the rates banks may pay
on time deposits. The latter decision
resulted in a large scale run-off of time
deposits, particularly at large commercial banks, and a buildup of severe
pressure on member bank reserve positions. Large denomination certificates
of deposit at large commercial banks,
which had increased more than 30 percent in 1967 and 15 percent in 1968,
declined more than 50 percent last 10
YIELDS
year. There was little expansion in
demand deposits, and the money stock,
which had grown an average of about
7 percent in 1967 and 1968, rose only
2% percent. Virtually all the increase in
the money stock occurred during the
first half of the year.
CHART 14
Percent
10
Banks under pressure
Reacting to the pressure they felt
on their reserve positions, and thus on
their ability to lend, many banks tried
to attract funds through unconventional channels. Euro-dollar borrowing
was a particularly important adjustment mechanism for some of the large
banks during the first three quarters of
the year. However, regulatory changes
in the summer reduced the attractiveness of this source of funds and banks'
Euro-dollar liabilities stabilized. In the
latter part of the year, an important
adjustment mechanism was the sale of
commercial paper by bank affiliates.
In a more typical response to a squeeze
on reserve positions, banks sought to
20
State and Local
(Italy's Aaa}
1963
1964
1965
1966
1967
1968
1969
Data: FRB, FHA,
U.S. Department of Commerce, Office of Business Economics
1970
Moody's & Treasury
January 1970
accommodate loan demand by liquidating securities holdings. Commercial
banks reduced their investment holdings by about $10% billion, most of
which represented reductions in U.S.
Government securities. The loan component of bank credit increased about
$20 billion.
As a result of restrictive monetary
policy, total bank credit increased
much less in 1969 than in 1968 or in
1967. Total loans and investments at
commercial banks rose about $9 billion
or 2% percent, less than one-fourth the
increase in both 1967 and 1968. However, this curtailment of bank credit
expansion was about offset by increased
supplies of funds from all the private
nonfinancial sectors and the total flow
of funds in credit markets was little
changed from 1968.
Credit demands heavy but mixed
Though credit demands were very
strong last year, the pattern among the
major borrowing groups was mixed.
Demands from business were larger in
1969 than in 1968, mainly because last
year's acceleration in capital spending
programs outstripped the growth of
internally generated funds. Despite the
high cost of external financing, business
firms borrowed heavily from banks,
issued a record volume of commercial
paper, and raised a record volume of
funds in capital markets. Because the
Federal budget was in surplus, Treasury
demands in financial markets lessened
appreciably in 1969. However, that
easing was partly offset by increased
borrowing by federally sponsored agencies, particularly those providing support
to the depressed mortgage market—
i.e., the Federal National Mortgage
Association and the Federal Home Loan
Bank System. Security issues by State
and local governments were cut sharply,
especially in the second half of the year,
as borrowing costs rose above the legal
ceilings that prevail in many States.
However, these governments stepped up
their borrowing in short-term markets
and the total of funds raised last year
was little changed from 1968. Consumer
borrowing showed signs of easing, as the
expansion in mortgage and installment
debt tapered off somewhat during the
second half of the year.
SUEVEY OF CUEEENT BUSINESS
21
The Balance of Payments
THE dollar remained strong in 1969;
the free market price of gold against
the dollar dropped sharply; and the
U.S. balance on official reserve transactions was probably in surplus by a
larger amount than in 1968. These
developments occurred despite a sharp
deterioration in the recorded liquidity
balance and massive flows of short-term
funds through the foreign exchange
markets, particularly in connection with
anticipation of the German mark revaluation. The "official" surplus and the
stability of the dollar largely reflected
the effects of very restrictive monetary
policy in the United States, which
caused U.S. banks to borrow heavily in
the Euro-dollar market through their
foreign branches. The substantial inflow
of foreign private liquid funds associated
with this borrowing (i.e., the increase in
liquid liabilities to private foreigners)
largely financed the liquidity deficit,
and contributed to the official surplus
by attracting dollars out of foreign
central banks.
Gold price declines
The price of gold in the free market
remained above $42 per ounce in the
early part of the year but dropped
sharply after May and almost fell below
the official central bank price of $35
before the agreement in December that
the IMF would purchase gold under
certain conditions. The decline was
probably associated not only with the
stability of the dollar in foreign exchange markets during the year, but
also with the final approval, announced
in September, of activation of the
Special Drawing Rights System on
January 1, 1970. Under this system,
international reserve assets will be
created to supplement existing assets.
Creation of reserve assets in this way
reduces, to some extent, the dependence
• CHART 15
U.S. Balance of Payments
Billion $
4
Billion $
OFFICIAL RESERVE
TRANSACTIONS BASIS
-2
-6
-8
19*63
64
6*5
6*6
6*7
"January-September totals, seasonally adjusted.
U.S. Department of Commerce, Office of Business Economics
69*
1963
64
65
66
67
68
69*
22
of the international monetary system
on gold, and was evidently interpreted
as reducing the possibility of an increase
in the official gold price.
SURVEY OF CURRENT BUSINESS
overall surplus on goods and services
shrank from the $2.5 billion of 1968 to
about $2.0 billion in 1969.
Capital flows
Goods and services
It is expected that complete data
will show the nonmilitary merchandise
trade balance in 1969 (adjusted for
balance of payments purposes) little
changed from the $0.6 billion surplus
to which it had fallen in 1968. Some
improvement might have occurred had
it not been for the dockworkers' strike
early in 1969.
The rise in nonmilitary exports was
about $3 billion, or more than 8.5 percent, in line with the long-term trend.
This growth was remarkable in view of
the strike losses, relatively poor markets
for agricultural products, and a temporary decline in deliveries of commercial
airplanes. Strong economic growth
abroad largely offset these factors.
Imports also rose about $3 billion, a
considerable deceleration from the $6
billion rise in 1968. The slowdown primarily reflected the absence of major
strikes affecting U.S. production, such
as had inflated 1968 imports; the 1969
dock strike, which depressed imports;
and the deceleration of domestic
demand.
U.S. payments to foreigners on their
investment in the United States rose
sharply in 1969, reflecting higher interest rates and a rise in foreign dollar
holdings; this was only partly offset
by increases in U.S. income from
investment abroad. In addition, military expenditures abroad were apparently higher than in 1968, although
they stabilized after the first quarter.
With only small changes likely in the
balances on travel and transportation
and on the other service accounts, full
data will probably show that the
Shifts in private capital flows also
had an adverse effect on the balance of
payments in 1969. For the first 9 months
of the year, there was a net deterioration of about $1.9 billion from the
corresponding period of 1968 in recorded
private U.S. and foreign capital transactions (other than changes in liquid
liabilities and special financial transactions). The pattern for the full year
was probably similar. That will not be
certain, however, until full data are
available to indicate whether—as seems
likely—the exceptional inflow registered
in the fourth quarter of 1968 was repeated in the fourth quarter of 1969.
The net outflow of U.S. corporate
capital (assets and liabilities) increased
in the first 9 months of 1969, foreign
purchases of U.S. stocks declined, and
U.S. purchases of foreign securities
rose. A partial offset was a rise in
foreign direct investment in the United
States.
Additional adverse effects on the
U.S. balance of payments in 1969
resulted from special financial transactions of U.S. and foreign Governments and central banks. Through
September, foreign official agencies
made a reduction of over $1 billion in
holdings of nonliquid assets in the
United States, compared with acquisitions of over $2.3 billion in the full
year 1968. Such shifts, however, have
little real significance for our external
position.
''Errors and omissions" also showed
a very sharp deterioration in 1969
which contributed to the growth of
the liquidity deficit. A good part of the
increase in unrecorded outflows was
probably associated with roundabout
January 1970
flows of U.S. funds to the high-yielding
Euro-dollar market and back to the
United States through the foreign
branches of U.S. banks. These roundabout flows have no impact on the official
balance. Expectations of the revaluation of the German mark may have
also induced unrecorded outflows of
U.S. funds.
The balances
The year's transactions resulted in a
substantial increase in the net transfer
of dollars to foreigners. The balance of
payments on the liquidity basis showed
a deficit of over $8 billion in the first
three quarters of the year. Although
preliminary indicators suggest a sizable
surplus in the fourth quarter, the deficit was probably far larger in 1969 than
in any earlier year. However, more than
half of the deterioration from the small
surplus in 1968 reflected developments—
such as the reversal of special financial
transactions and roundabout flows of
U.S. funds to the Euro-dollar market—
which do not represent any fundamental deterioration in our external position.
The balance on official reserve transactions, by contrast, was in surplus in
1969, and the surplus was probably
significantly larger than the $1.6 billion
in 1968. This was closely related to the
very large inflow of foreign private
liquid funds associated with the increase in U.S. banks' Euro-dollar borrowing through their foreign branches.
This inflow was so great that it more
than offset the deterioration in the current and recorded capital accounts, as
well as the increased outflow on errors
and omissions. It must be recognized,
nevertheless, that if monetary conditions ease, it would become more difficult to finance a continuing liquidity
deficit—even one smaller than last
year's—by an inflow of private foreign
liquid funds, and thus harder to avoid a
deficit on the official balance.
January 1970
SURVEY OF CURRENT BUSINESS
23
Personal Income Higher in All Regions in the Third Quarter of 1969
There were wide regional variations
in personal income gains in the third
quarter. At the high end were advances
of 3% percent in the Southwest and 2%
percent in the Plains; the lows were l}{
percent in the Rocky Mountains and
little more than three-fourths of 1 percent in New England. Advances in the
other four regions were close to the 2#
percent recorded for the Nation as a
whole. Income rose in the quarter in 46
of the 50 States and in the District
of Columbia.
Two major factors contributing to
the regional variation in the income gain
were the differential impact of the
Federal pay increase and regional differences in farm income behavior.
Mainly reflecting the pay increase,
aggregate Federal payrolls rose about
7 percent. The associated regional
percentage gains in Federal payrolls
were quite uniform, but the importance
of those payrolls as an income source
varies markedly among regions.
A jump of more than 10 percent in
farm proprietors' earnings in the Plains
is directly responsible for the strength
of the total income rise in that region;
a relatively large gain in farm earnings
also contributed to the Southwest's
strong income rise. Conversely, a decline of about 20 percent in farm earnings severly dampened the gain in
total income in the Rocky Mountains.
In seven of the eight States with the
largest total income gains—North
Dakota, Arkansas, Arizona, Oklahoma,
Nevada, Iowa, and Wyoming—farm
earnings registered very large advances.
In the eighth, Hawaii, increases in most
income sources were larger than the
national average, reflecting the continuing prosperity of that State. In each
of the four States where total income declined—Idaho, South Dakota, Nebraska, and Montana—a substantial
drop in farm earnings was responsible.
NOTE. The quarterly estimates of State personal income
were prepared in the Regional Economics Division by
Marian Sacks under the supervision of Q. Francis Dallavalle.
Table A.—Total Personal Income, by States and Regions
[Millions of dollars, seasonally adjusted at annual rates]
19 69
19 68
State and region
I
II
III
IV
660,216
675,973
691,702
706,920
41,696
42,781
43,508
44,726
2,686
2,215
1,263
20,340
3,145
12,047
2,722
2,249
1,292
20, 793
3,232
12, 493
2,770
2,304
1,318
21,100
3,242
12, 774
157,549
161,043
72, 708
26,995
39,054
1,948
13, 418
3,426
74, 156
27,631
39, 743
2,018
13, 937
3,558
Great Lakes
140,272
Michigan
Ohio
Indiana
Illinois
Wisconsin _
31, 131
36, 028
16, 822
42,606
13,685
United States
New England..
_
Maine. _
New Hampshire
Vermont
Massachusetts .-- .- - ,
Rhode Island _ _ . _
Connecticut
_ _ _ ___ _
Mideast
New York
New Jersey .
_
Pennsylvania _ _ _ _ _ _ _ _ _ _
Delaware
Maryland _
District of Columbia
_
.
_
_ _ _ _ _ _ _
_ _
Plains
Minnesota. _ _ _
Iowa
Missouri
North Dakota
South Dakota
Nebraska
Kansas
Southeast
Virginia
West Virginia
Kentucky
Tennessee. ,
North Carolina
South Carolina
Georgia
Florida .
Alabama
Mississippi
Louisiana
Arkansas. _
_
_
Southwest
Oklahoma
Texas
New Mexico
Arizona
._
Rocky Mountain
._
Montana
Idaho
Wyoming
Colorado
Utah
_
_
Far West
Washington
Oregon
Nevada
California. _ _.
Alaska
Hawaii
. ._ _
__
_ _
_
I
II
III
Percent
change
1969,
II-III
720,351 ' 736,217
752,077
2.2
44,920
46,474
46,851
.8
2,849
2,381
1,348
21, 663
3,357
13, 128
2,901
2,372
1,388
21, 996
3,330
12,933
2,933
2,481
1,426
22, 698
3,429
13, 507
2,956
2,511
1,450
22,886
3,466
13, 582
.8
1.2
1.7
.8
1.1
.6
164,286
168,531
171,694
r 174,483
177,791
1.9
75, 707
28,200
40, 472
2,052
14, 205
3,650
77, 625
29,360
41, 140
2,089
14,631
3,686
79, 260
29,322
42, 431
2,144
14, 776
3,761
81,806
30, 465
43, 734
2,177
15, 679
3,930
1.9
.8
2.2
2.6
3.0
2.0
142,919
145,564
149,228
153,131
155,952
159,238
2.1
31, 696
36, 890
17, 055
43, 254
14, 024
32, 374
37, 474
17, 353
44,007
14, 356
33, 272
38, 211
17, 849
45, 172
14, 724
33, 249
39, 672
18, 510
46,608
15,092
33, 711
40, 662
18, 768
47, 498
15, 313
35,000
41, 370
19,082
48, 065
15, 721
3.8
1.7
1.7
1.2
2.7
50,822
51,240
52,979
53,521
55,096
56,274
57,797
2.7
11, 716
8,902
14, 675
1,674
1,896
4,561
7,398
11,952
8,993
14, 880
1,570
1,860
4,637
7,348
12, 351
9,493
15, 144
1,796
1,877
4,664
7,654
12, 719
8,840
15,564
1,809
1,913
4,781
7,895
13,000
9,660
15, 778
1,788
1,942
4,944
7,984
13, 110
10, 117
15,943
1,694
2,062
5,302
8,046
13,499
10,540
16, 380
1,840
2,011
5,209
8,318
3.0
4.2
2.7
8.6
-2.5
-1.8
3.4
112,618
116,245
119,137
121,016
123,264
126,139
129,271
2.5
13, 510
4,314
8,190
9,786
13, 147
6,112
12, 159
18,709
8,131
4,713
9,564
4,283
13, 937
4,444
8,473
10, 122
13, 581
6,322
12, 566
19, 374
8,219
4,916
9,701
4,590
14, 348
4,498
8,612
10,464
13, 882
6,438
12, 905
20,008
8,408
4,882
9,904
4,788
14, 602
4,550
8,789
10,636
13,961
6,492
13, 193
20, 416
8,507
5,001
10, 087
4,782
14, 722
4,667
8,866
10, 848
14, 490
6,622
13, 453
20, 560
8,718
5,127
10, 384
4,807
15, 147
4,722
9,229
10, 972
14, 768
6,829
13, 774
21, 107
8,924
5,235
10, 460
4,972
15, 535
4,780
9,324
11, 319
14, 989
7,044
14, 256
21, 790
9,210
5,261
10,540
5,223
2.6
1.2
1.0
3.2
1.5
3.1
3.5
3.2
3.2
.5
.8
5.0
45,920
47,553
49,154
50,227
50,667
52,103
53,802
3.3
6,983
31,640
2,608
4,689
7,099
32,864
2,627
4,963
7,402
33, 867
2,710
5,175
7,551
34,644
2,723
5,309
7,580
34, 952
2,844
5,291
7,670
36, 067
2,825
5,541
8,043
37, 019
2,923
5,817
4.9
2.6
3.5
5.0
13,856
14,461
14,781
15,420
15,458
15,833
16,032
1.3
1,985
1,808
970
6,364
2,729
2,020
1,884
978
6,712
2,867
2,039
1,871
1,024
6,904
2,943
2,113
1,939
1,048
7,318
3,002
2,104
2,043
1,027
7,257
3,027
2,167
2,138
1,082
7,375
3,071
2,158
2,065
1,126
7,512
3,171
-.4
-3.4
4.1
1.9
3.3
93,841
95,932
98,369
100,254
102,084
104,805
106,936
2.0
12, 752
7,049
1,928
80, 355
13,042
7,244
1,930
82, 589
13,263
7,393
2,021
84, 259
1.7
2.1
4.7
2.0
1,214
2,823
1,238
2,916
1,279
3,080
3.3
5.6
11, 718
6,432
1,695
73,996
11, 965
6,574
1,733
75, 660
12, 183
6,730
1,804
77, 652
i
12, 461
6,903
1,877
79, 013
1,116
2,526
1,122
2,677
1,142
2,782
1,163
2,834
80, 288
30, 228
42, 779
2,122
' 15, 215
' 3, 851
' Revised.
NOTE.—Quarterly totals for the State personal income series will not agree with the personal income measure carried in the national income and product accounts since the latter includes income disbursed to Government personnel stationed abroad.
Source: U.S. Department of Commerce, Office of Business Economics.
24
SURVEY OF CURRENT BUSINESS
January 1970
Business Investment Expectations, 1970
BUSINESSMEN are scheduling a substantial rise in expenditures for new
plant and equipment in 1970, according
to a survey conducted between midNovember and mid-December by the
Office of Business Economics and the
Securities and Exchange Commission.
They plan to spend $82.3 billion, 9.3
percent more than is now estimated for
1969.i From 1968 to 1969, the rise is
estimated at 11 percent.
This report is the first in a new
series that will present capital spending
expectations for the coming year on
the basis of data collected in the late
fall from the regular OBE-SEC panel
of cooperating companies. These annual
expectations will precede those regularly appearing in the March SURVEY,
which are based on data collected in
February of the year being projected.
Programs for 1970 are stronger in
the nonmanufacturing industries than
in manufacturing—up 11 percent and very large advances from 1968 to
7 percent, respectively, from 1969. 1969.
This would be a reversal of the exAmong the nonmanufacturing indusperience last year when manufacturing tries, the most substantial increases—
showed the larger advance.
15 and 13 percent—are projected by
In manufacturing, sizable investment public utilities and by communications
increases—15 to 19 percent—are planned and commercial companies, continuing
by producers of machinery, chem- the expansions that took place last
icals, and petroleum products. Declines year. Railroads foresee a 6 percent
in spending are expected by producers increase in 1970, while nonrail transof transportation equipment and tex- portation and mining companies expect
tiles, two industries that reported to reduce expenditures.
Expenditures for New Plant and Equipment by U.S. Business,1 1968-70
1968
19702
[Billions of dollars]
All industries
.
Manufacturing __ _
Durable goods 3
Primary iron and steel
Primary nonferrous metal
Electrical machinery and equipment
Machinery except electrical
Motor vehicles and parts
Transportation equipment, excluding motor vehicles
Stone, clay, and glass
.
_ __
Nondurable goods 3
1. The 1969 estimates cited in this report are the preliminary figures for that year in the newly revised series on plant
and equipment spending. The revisions are presented in full
in an article appearing elsewhere in this issue of the SURVEY.
The figures for expected 1970 spending are consistent with the
revised series.
The figures reported for 1970 are adjusted for systematic
biases when necessary. Before adjustment, expenditures
were expected to be $80.6 billion, or 7 percent above 1969.
The comparable figures were $34.4 billion for manufacturing
and $46.2 billion for nonmanufacturing. The adjustments,
which were computed separately for each major industry,
were applied only in cases in which expected spending
deviated from actual spending in the same direction in each
of the years 1967,1968, and 1969—the only 3 years for which
such data are available. When this criterion was met, the
adjustment was derived using the median deviation between
actual spending and the expectations reported in the three
similarly timed surveys of spending plans for 1967,1968, and
1969.
1969 P
Food includes beverage
Textile
Paper
Chemical.. _ _ _
Petroleum
Rubber
Nonmanufacturing. _
Mining
_ _
Railroad
..
Transportation, other than rail..
Public utilities
Communication _ _
Commercial and other *_
_
_ _ __
Percent change
1968-69
1969-70
67.76
75.30
82.28
11.1
9.3
28.37
31.74
33.96
11.9
7.0
14.12
15.99
16.56
13.2
3.5
2.27
1.09
1.78
2.84
1.36
1.12
.86
2.09
1.14
2.02
3.42
1.65
1.14
1.10
2.15
1.24
2.32
3.96
1.66
1.00
1.05
-7.9
4.7
13.8
20.5
21.4
2.2
27.0
3.1
8.6
14.8
15.9
0.2
-12.7
-4.0
14.25
15.74
17.41
10.5
10.6
16.0
16.9
19.7
10.5
7.7
12.7
-0.3
-12.2
2.3
19.4
15.1
0.6
2.21
.53
1.32
2.83
5.25
.98
2.56
.62
1.58
3.13
5.65
1.10
2.55
.55
1.62
3.74
6.51
1.11
39.40
43.56
48.32
10.6
10.9
1.63
1.45
4.15
10.20
_ _ _ J 21.97
1.87
1.83
4.20
11.56
24.10
1.85
1.94
3.96
13.32
27.26
14.7
26.5
1.2
13.4
9.7
-1.1
5.8
-5.9
15.2
13.1
_
1. Data exclude expenditures of agricultural business and outlays charged to current account.
2. Estimates are based on expected capital expenditures reported by business between mid-November and mid-December
1969. The estimates for 1970 have been adjusted when necessary for systematic tendencies in anticipatory data.
3. Includes industries not shown separately.
4. Includes trade, service, finance, and construction.
^Preliminary.
NOTE. Details may not add to totals because of rounding.
Sources: U.S. Department of Commerce, Office of Business Economics, and the Securities and Exchange Commission.
By GENEVIEVE B. WIMSATT and JOHN T. WOODWARD
Revised Estimates of New Plant and Equipment Expenditures
in the United States, 1947-69: Part I
This article presents revised OBESEC estimates of new plant and
equipment expenditures for the years
1947-69. The major effect of the
revision was to raise the rate of growth
in these expenditures; the quarterly
pattern of spending was not significantly
affected. This was true for both manufacturing and nonmanufacturing industries.
The related data on expenditure
expectations are also being revised and
will be published in Part II of this
article in the February issue of the
SURVEY.
JL HIS article presents revised estimates of expenditures for new plant
and equipment in the United States by
private, nonagricultural business firms.
The related data on expenditure expectations are also being revised and will
be published in Part II of this article
in the February issue of the SURVEY.
The revision covers the entire postwar period, and adjusts the annual
expenditure estimates for the various
industries to benchmark data from the
1958 and 1963 Censuses and to a wide
range of quasi-benchmark data for
these years from other sources. The
effect of the revision was to increase
the rate of growth in plant and equipment spending over the postwar period.
The pattern of quarterly spending was
little affected.
Quarterly interpolations of the revised annual data were based on sample
data from the quarterly plant and
NOTE. Miss Wimsatt is Chief, Investment
Branch of OBE's Business Structure Division.
Mr. Woodward is Chief, Branch of Financial
Reports of the SEC's Office of Policy Research.
equipment expenditure surveys con- per annum; spending by nondurable
ducted jointly by the Office of Business goods industries rose an average of
Economics, the Securities and Exchange about 5 percent per annum. In durable
Commission, and the Interstate Com- goods, the expansion was paced by
merce Commission. The seasonal factors instruments, aircraft, and machinery
companies. Among nondurable goods
for each industry were updated.
The series on the carryover of invest- industries, rubber and paper companies
ment projects and on starts of projects showed the largest advances. Among
by manufacturing industries and by the nonmanufacturing industries, public
public utilities have been revised to the utilities, communications, and airlines
new expenditure levels and recomputed led the expansion.
There are minor differences between
using a refined statistical technique. A
full description of the data sources and the revised and previous series in the
the statistical procedures appears in the behavior of the all-industry aggregate
Technical Notes at the end of this at two turning points. The 1957 peak is
no longer clearly in the third quarter.
article.1
In the new series, spending in the
Investment pattern little changed
second quarter is fractionally higher
Although the revision had the effect than in the third quarter for both
of raising the average annual growth manufacturing and nonmanufacturing.
rate of expenditures for new plant and The 1961 low now occurs in the first
equipment in the postwar period from quarter instead of the second quarter,
5.8 percent to 6.4 percent, the general with the shift attributable to revisions
pattern of quarterly investment be- in the nonmanufacturing industries.
havior is not markedly affected (see
Chart 17 compares the OBE-SEC
chart 16).
capital expenditure series with the
Both manufacturing and nonmanu- "nonresidential fixed investment" comfacturing show a higher rate of growth ponent of gross national product. Agriduring the 1947-69 period in the new cultural outlays have been excluded
series than in the old, but neither shows from the latter series to improve its
much change in its pattern of invest- comparability with the OBE-SEC exment behavior. Expenditures for new penditure series. However, the two
plant and equipment grew at an annual series differ in several other matters of
average rate of somewhat less than concept and methodology (described in
6% percent, in the period under review, the Technical Notes). In spite of these
in both manufacturing and nonmanu- differences, the pattern of growth over
facturing. In the previous series, the the period from 1947 to 1969 is similar;
rate of growth for both sectors was the average annual rate of growth for
slightly under 6 percent.
the GNP fixed investment series is 7.1
In manufacturing, the expansion was percent compared with 6.4 percent for
stronger for durable goods industries, the OBE-SEC series. The revisions
which had a trend rise of 8 percent have had the effect of narrowing the
divergence in movement between the
1. The series on manufacturers' evaluation of their capacity
needs is not affected by the revision in the expenditures data. OBE-SEC and the GNP series.
25
SURVEY OF CURRENT BUSINESS
26
CHART 16
Expenditures for New Plant and Equipment
Billion $ (ratio scale)
80
TOTAL
70
60
50
40
•Old Series
30
20
.<
1 1....I i t 1 1 1 1 1 t i t 1..1J
1947
49
51
..,1.
t.i t I..1..I t n 1. 1 i 1 i in t i n 1 1 1 t i i
53
55
57
61
59
I I i I I I I I I I I I I I I M I I I I II
63
65
69
40
MANUFACTURING
30
Series
1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 11 i 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
50
NQNMANUFACTURING
40
30
1947
49
53
55
57
59
61
63
65
69
Seasonally Adjusted at Annual Rates
Data: OBE-SEC
U.S. Department of Commerce, Office of Business Economics
January 1970
Size of revision
Chart 16 depicts the revised and previous estimates quarterly from 1947 to
date. The revision lowered the allindustry aggregate for 1947 from $20.6
billion to $19.3 billion. This difference
gradually disappears over the next 6
years and the revised series is higher
than the old in all periods subsequent to
1953. The new estimates place expenditures in 1969 at $75.3 billion,
about $4 billion or 6 percent above the
previous figure.
As can be seen in the two lower
panels of the chart, the pattern of
revision for both manufacturing and
nonmanufacturing industries is similar
to that for the all-industry aggregate:
downward revisions in the late 40's,
more rapid growth over the span of the
two decades, and upward revisions of
about 6 percent in 1969.
Manufacturers' capital expenditures
in 1969 are now estimated at $31.7
billion, or $2 billion above the previous
estimate. Two-thirds of the upward revision occurred in the nondurable goods
manufacturing group. For all years from
1958 forward, the increase in levels of
manufacturers' plant and equipment
expenditures was preponderently in
nondurable goods manufacturing. The
food, petroleum, and rubber industries
were the principal ones for which the
previous series had understated the
amount of capital investment during
the past decade. Expenditures by textile producers are substantially lower in
the new series than in the old, and by
paper producers somewhat lower.
The revised estimates of 1969 expenditures of the machinery industries
are about one-sixth higher than the
estimate in the previous series. The
bulk of this increase appears in the
electrical machinery group, in part
reflecting the change in definition of this
industry in the Standard Industrial
Classification Manual, 1957, which was
not fully taken into account in the old
series. Expenditures by the nonferrous
metals and stone, clay, and glass industries in 1969 are about one-fifth
above previous estimates. However, for
the iron and steel, motor vehicles, and
miscellaneous durable goods industries
the revisions have reduced 1969
expenditures.
January 1970
Among the nonmanufacturing industries, revised capital spending by the
communications industry is about 7 percent higher than in the old series in
each of the years from 1958 to 1969.
Railroad expenditures are 14 percent
larger in both 1958 and 1963 and 22 percent higher in 1969.
Estimates for some nonmanufacturing industries have been revised downward. Expenditures by public utility
companies for the 1958-1969 period are
now estimated to be about 10 percent
lower, with reductions in both the electric and gas components. The new
figures for capital investment by nonrail transportation companies are also
lower in 1958 and in very recent years
but higher than the previous figures
from 1959 to 1965.
Statistically, the least reliable estimates of capital expenditures in both
the new and old series are for the "commercial and other" group. This heterogeneous group comprises the retail and
wholesale trade, services, construction,
finance, and insurance industries.
Whereas few comprehensive data relating to fixed investment were available,
except for 1948, for use in the previous
series, some newly developed data
sources—e.g., Board of Governors of
the Federal Reserve System, the Federal Deposit Insurance Corporation, the
Bureau of the Census—have permitted
the preparation of acceptable estimates
of expenditures for selected periods,
particularly 1958 and 1963. The new
data indicate that the previous estimates for retail trade were considerably
too high throughout the whole period,
while those for all the other component
industries were to an increasing degree
too low in the fifties and sixties.
The net result of the revision was a
reduction of 17 percent in the estimate
of expenditures by the "commercial and
other" group in 1947, the elimination by
1955 of this divergence between the
old and the new series, and progressively
larger upward revisions in subsequent
years.
SURVEY OF CURRENT BUSINESS
professional services, and nonprofit organizations. The estimates are based on
company data (generally on a fully consolidated basis) rather than establishment data. Each company is given an
industry classification on the basis of its
primary activity, utilizing the Standard
Industrial Classification system. The
company's total capital expenditures—
for its primary activity as well as for all
its secondary activities—are included in
the specified industry's expenditures.
Thus in the OBE-SEC series, as compared with a series based on establishment data, there is a significantly
greater chance for expenditures in one
industry to be included in a different
industry's total. An indication of the
difference between estimates based on
company data and those based on establishment data is afforded by comparing
manufacturing expenditures on the two
27
bases in 1963. Manufacturing expenditures on a company basis include expenditures for included companies' nonmanufacturing subsidiaries but exclude
expenditures by manufacturing subsidiaries of nonmanufacturing companies.
Manufacturing companies' capital expenditures in 1963 exceeded expenditures by manufacturing establishments
by 46 percent, or $5.1 billion, according
to the 1963 Census of Manufactures.
Almost 60 percent of this difference occurred in petroleum refining, with the
machinery, food, chemicals, and motor
vehicles industries accounting for most
of the remainder.
It is worthy of note that while investment by real estate firms is specifically
excluded from the OBE-SEC series,
investments in real estate—such as
office buildings, warehouses, apartments,
stores—by companies classified in cov-
CHART 17
Nonfarm, Nonresidential Fixed Investment: National Income
and Product Accounts and OBE-SEC Series1
Billion $ (ratio scale)
100
90
80
70
National Income and
Product Accounts
60
50
40
^ OBE-SEC
OW Series
'
OBE-SEC
New Series
30
20
Coverage and concepts
The OBE-SEC capital expenditures
series covers all private nonagricultural
business except real estate operators,
J_
1947
I
|
49
I
\
51
t
53
1. See technical note for conceptual difference.
U.S. Department of Commerce, Office of Business Economics
J
t
55
57
1
59
61
63
65
67
69
Data: OBE-SEC
70-1-17
SUEVEY OF CUEEENT BUSINESS
28
January 1970
ered industries are included in the work are incurred. On long-term proj- of the firm making the purchase and
OBE-SEC figures for the relevant ects, progress payments are usually retaining title to the plant or the
made during the period of construction equipment purchased, even though
industry.
Capital outlays in the OBE-SEC or production, rather than a total pay- some of these facilities are destined for
series are defined as expenditures for ment on completion. Practice varies use by firms in other industries.
Exceptions to the ownership basis
plant and for types of machinery and among companies with respect to hanoccur
in airlines and railroads. In the
equipment for which companies main- dling trade-ins. If the supplier takes
survey
reports by the airlines, most
tain depreciation accounts. The ex- in a used item in trade—as is often the
companies
include outlays for aircraft
penditures exclude purchases of capital case for automobiles and trucks—and
obtained
through
leasing or other congoods charged to current account. the actual payment is net of the
trade-in, the net amount is usually tractual arrangements. Separate data
Expenditures for land, for used plant or
reported. If the item being replaced is were available to adjust the reported
equipment, and for facilities to be sold in a separate transaction, the figures for those airlines that do not
installed outside the United States are gross cost of the new item is typically report leased equipment. Thus the
also excluded. The handling of leased reported.
estimates of airline capital outlays
equipment is discussed below.
The series—with a few exceptions include the total value of all leased
Expenditures are generally reported noted below—are on an ownership aircraft and are therefore essentially
at the time that payment is made to the rather than a use basis. Expenditures on a use rather than an ownership
supplier or costs due to force account are included in the industry category basis. Where information was obtainable on specific leasing of railroad
Expenditures for New Plant and Equipment by Legal Form of Organization, 1958 and 1963 equipment such transactions were included in the railroad figures rather
[Billions of dollars]
than in the industry holding title to
the equipment. Most of the equipment
1958
1963
leased by the airlines and the railroads
NonNonTotal
Total
CorpoCorpois owned by manufacturers, banks, and
corporate
rate
corporate
rate
insurance companies.
AH industries
.
40.77
31.89
36.42
27.64
4.35
4.26
In the case of capital expenditures
Manufacturing industries
.60
16.22
11.78
12.38
15.64
.59
by several large companies that are
5.29
.32
Durable goods industries
7.53
5.61
7.24
.29
engaged both in manufacturing and in
Primary metal .
..
...
.01
1.56
1.51
1.56
1.50
.01
Blast furnace and steel works 99
88
99
88
(*)
(*)
public utility services, data were availNonferrous metal.
.46
48
46
.48
(*)
(*)
Other primary metal .
.09
.09
.16
.16
(*)
(*
able to allocate expenditures between
79
.01
Electrical machinery and equipment
.59
60
78
01
Machinery except electrical
.92
.07
.86
1.39
1.35
.04
the two types of operations. The manuTransportation equipment
. _
.01
.02
.84
1.58
.85
1.56
Motor vehicles
.01
1 00
02
.47
98
48
facturing
operations in question are in
Aircraft i.-.
.28
.45
45
.28
(*)
(*)
Og
Other transportation equipment
09
14
14
(*)
(*)
the
electrical
machinery and petroleum
Stone, clay, and glass .
.51
.04
68
04
55
63
Other durables . .
.94
.18
1.58
.17
1 40
1.12
industries.
Fabricated metal.
.62
.46
.03
.02
.60
.49
Lumber _ .
Furniture
Instruments. _
Ordnance and miscellaneous.
Nondurable goods industries
Food, including beverage
Textile
..
Paper
Chemical- .
Petroleum.
Rubber
Other nondurable goods
Tobacco..
Apparel
Leather
Printing and Publishing
Nonmanufacturing industries
39
.11
29
16
27
10
29
15
12
.01
(*)
01
27
08
. 15
13
15
.07
.15
12
8.70
1 53
.43
72
1.73
3 15
.37
78
.09
15
.05
.49
8 40
1 38
42
71
1 70
3 12
36
71
08
13
.05
.44
30
15
01
01
03
03
01
07
.01
02
(*)
.05
6.77
1 10
22
57
1 33
2 72
22
62
06
10
.04
.43
6.48
96
21
56
1 32
2 71
.21
52
.06
07
.03
.36
24 55
20 78
3 76
19 51
15 86
3 65
31
1.43
1.12
.31
29
86
37
1 06
.86
.37
82
24
5.52
3 99
1 53
5.52
3 99
1.53
2.79
2.79
7.48
96
2 75
1 81
1.00
.97
4.39
74
1.55
.70
.52
.87
Mining
1.27
.96
Railroad
Air transportation
Other transportation
1.26
.40
1 58
1 26
.40
1 29
Public utilities
Electric
Gas and other
4.98
3 67
1 31
4.98
3 67
1 31
4.06
4.06
10.99
1 21
3 63
2.96
1.70
1.50
7 82
96
2 42
1 93
1.11
1.39
..
Communication
Commercial and other
Wholesale
Retail..
Services
Construction
Finance and insurance
...
* Less than 0.005.
1. Includes guided missile and space vehicles.
NOTE.—Details may not add to totals because of rounding.
3 17
24
1 21
1 03
.58
.11
.12
.01
(*)
02
.29
15
01
01
01
01
.01
10
(*)
02
.01
.07
3.09
21
1 20
1.11
.48
.10
Starts and carryover of investment
projects
Each commitment to purchase new
plant and equipment initiates an investment project—whether it be the acquisition of an automobile or an entire
factory. Thus the time to complete an
investment project may range from
days to many years. Since the end of
1962, manufacturing companies and
public utilities have been asked each
quarter to report the carryover of
investment projects at the end of the
preceding quarter. The carryover refers
to the amount of expenditures yet to
be made for investment projects already
underway.
Estimates of starts of investment
projects are not collected from the
respondents but rather are made by
adding reported expenditures in a given
SURVEY OF CURRENT BUSINESS
January 1970
period to the change in carryover in that the OBE-SEC series are defined as
period. A full description of methodol- expenditures for new structures and
ogy is given in the Technical Notes.
additions to existing plant (including
Both starts and carryover of invest- major alterations), as well as expendiment projects were revised upward for tures for new machinery and equipment
manufacturing and downward for that are chargeable to fixed asset
public utilities—reflecting upward and accounts. Expenditures include those
downward revisions, respectively, in made for replacement purposes, as well
those industries' capital expenditures. as those for additions and modernizaFor public utilities, the configurations tion. Excluded are land; costs of
of the revised starts and carryover maintenance and repairs; items charged
series are quite similar to those of the off as current operating expense; new
previous series. In manufacturing, the facilities owned by the Federal Govnew seasonally adjusted carryover ernment operated under contract by
figures indicate an earlier peak in 1966 private companies; and plant and
than did the previous series, and starts equipment furnished a company by
now peak in the final quarter of 1965 communities and organizations. Also exrather than in the third quarter of 1966. cluded are expenditures for installation
outside the United States. Annual
Technical Notes
estimates of capital expenditures made
Plant and equipment expenditures in abroad by U.S. companies are regularly
29
reported separately in the SURVEY OF
CURRENT BUSINESS.
More detailed definitions of terms as
well as the instructions sent to cooperating companies can be found in the
OBE reporting forms shown at the end
of the article. Form 452 is mailed to
manufacturers and Form 456 to companies in all other industries. An
essentially similar form (Form R3) is
used by the Securities and Exchange
Commission.
Methodology
The new figures were developed in
three steps. First, annual estimates for
each industry were calculated for the
years 1948, 1958, and 1963, utilizing the
most comprehensive data available.
The year 1948 was the base period for
Table 1.—Expenditures for New Plant and Equipment by U.S. Business,1 1947-69
[Billions of dollars]
1947
All industries
Manufacturing industries
1968
1969P
19.33 21.30 18.98 20.21 25.46 26.43 28.20 27.19 29.53 35.73 37.94 31.89 33.55 36.75 35.91 38.39 40.77 46.97 54.42 63.51 65.47 67.76
75. 3(
1948
1949
1950
1951
1952
1953
8.44
9.01
7.12
7.39 10.71 11.45 11.86
Durable goods industries .
Primary metal
Blast furnaces and steel
works _
Nonferrous metal _
Other primary metal
Electrical machinery and
equipment
Machinery except electrical
Transportation equipment
Motor vehicles
Aircraft 2.
Other transportation
equipment
Stone, clay and glass
Other durables
Fabricated metal _
Lumber
Furniture
Instruments
Ordnance3and miscellaneous .
3.25
.81
3.30
.94
2 45
.74
2.94
.72
4 82
1.44
.45
18
.18
.56
19
.19
.45
15
14
30
.52
.60
50
.04
29
.53
.58
47
.05
06
33
69
.33
16
08
06
.05
26
70
.31
22
.06
06
.06
.06
Nondurable goods industries
Food, including beverage
Textile
Paper
Chemical
Petroleum .
Rubber
Other nondurables
Tobacco.
Apparel
Leather
Printing and publishing
5.19
.95
51
37
1 06
1 74
.17
40
04
.09
03
.23
5.71
1.12
.58
38
94
2.16
.13
.39
06
.08
.03
.22
Nonmanufacturing industries
1954
1955
11.24 11.89
1965
1966
1967
.88
.46
.16
1.02
44
.14
1.36
88
21
.99
48
.09
.82
34
09
1.35
32
.15
.87
30
13
.78
35
.14
54
.80
1.26
97
.23
77
1.05
1.89
1 44
.37
77
1.25
1.46
90
.46
60
.92
.85
48
.28
66
1.02
.96
56
.30
90
1.25
1.25
79
.34
88
1.20
1.10
69
.30
80
1.31
1.33
78
.40
04
44
98
.47
22
06
14
05
64
1 16
.54
29
08
16
.09
.09
.08
55
76
89
1 25 1 15 1 12
.59
.49
58
27
20
28
.09
.08
.09
15
19
19
.09
69
1 23
.54
28
.08
19
.12
75
1.26
.52
32
.07
24
.11 .15
70
70
1 12 1 38
.45
.58
24
30
10
08
23
26
08
10
.13
.12
45
.69
.98
77
18
57
.78
1.06
87
15
54
.68
1.32
1 12
15
03
30
70
35
18
06
07
04
45
83
.38
22
.05
10
04
38
76
36
17
06
10
04
41
93
.47
17
06
H
04
.07
08
.12
7.23
1.82
6.31
1.30
9.28 11.50 14.96 14.06 14.12
2.16 2.54 2.97 3.24 3.36
3.2,
1.41
.55
.20
1.57
.73
.24
1.70
98
.29
1.92
1.07
.25
2.00
1.09
.26
1.8
1.1
.2
.86
79
1.39 1.79
1.58 1.98
1 00 1.39
.42
.45
1.12
2.31
2.54
1.89
.46
1.62
2.87
2.95
1.80
.92
1.70
2.94
2.72
1.54
.93
1.78
2.84
2.48
1.36
.86
2.0
.14
.68
1.58
.62
39
.11
29
.18
.74
1.74
.79
.36
.11
.29
.18
.92
2.07
.88
.48
.15
.37
.24
1.16
2.48
1.02
.48
.18
.53
.24
.96
2.50
1.10
.39
.20
.53
.25
.86
2.82
1.22
.53
.18
.55
.21
1. 1(
3.*
1.2
.&
.2<
.7
.19
.19
.27
.29
3.4
2.7
1.6
. 8<
.33
.3
10.07 11.94 14.14 14.45 14.25
1.72 1.83 2.10 2.08 2.21
.53
.52
.82
.68
.97 1.22 1.43 1.56 1.32
2.73
3.06
3 26
2.83
2 08
3.59 4.03 4.70 5.08 5.25
.67
.98
.44
.56
.64
.92 1.18 1.31 1.13
.75
.12
.10
.06
.10
.08
.20
.23 .21
.14
.24
.12
.05
.07
.09
.09
.70
.87
.75
.49
.58
15.7
2.5<
.6'
12.82 14.75 14.98 16.34 15.95 17.64 20.34 21.43 19.51 20.78 21.66 21.58 23.33 24.55 27.62 30.98 35.32 36.96 39.40
43.51
1.63
1.45
2.56
1.59
1.8
1.8.
2.5(
1.7(
1.1«
8.8(
2. 7(
4.68 4.45 5.89 6.24 6.56 6.33 6.48
.90
.92
.94
.95
.86
.93
.78
40
.46
.30
.31
43 .48
.34
30
42
51
33
36
41
45
67
77 1 25 1 39 1 43 1 13 1 02
1 83 1 63 2 22 2 72 2 89 2 93 3.08
.11 .14
.19
.20
.19
. 18 .20
38
37
31
.33 .41 .46
39
06
03
04
04
04
04
06
.07
.07
.06
.06
.06
.08 .09
02
04
03
02
03
03
03
.27
.25
.24
.26
.20
.25
.19
.10
.08
.13
7.95 8.68 6.77
1.05 1.16 1.10
.22
.38 .32
80
57
.79
1 46 1 73 1 33
3.47 3.84 2.72
.22
.27
.26
.62
.52
.56
06
.06
07
.09
.11 .10
.04
.04
04
.32
.35
.43
69
91
17
1.13
93
1 37
10
1.17
88
1 42
12
.76
84
1 18
10
1 09
Public utilities
Electric
Gas and other
1.54
1.03
51
2.54
1.90
64
3 10
2.17
93
3 24 3 56 3 74 4 34 3 99
2.07 2.25 2 72 3.18 3.04
1 18 1 31 1 02 1 17
95
4 03 4.52 5 67 5 52 5 14
2 87 3.13 3.98 3.99 3.60
1 15 1 39 1 gg 1 53 1 54
1 11 1 21 1 25 1 28 1 31 1 64
93 1 02 1 37
1 58 1 50 1 42
24
14
24
24
26
.35
1 33 1.23 1.29 1.22 1.30 1.31
1 69
1 58
41
1.30
1 43 1 36
86 1 02
78
37
1.06 1.33
1 30
1 16
.66
1.30
1 40
1 02
.52
1.65
1 27 1 34
1 26 1.66
.40 1.02
1.58 1.50
1 46 1 62 1.65
1.99 2.37 1.86
1.22 1.74 2.29
1.68 1.64 1.48
5.49
3.97
1.51
6.13
4.43
1.70
7.43
5.38
2.05
8.74 10.20
6.75 7.66
2.00 2.54
4.06
4.61
5.30
6.02
6.34
1.40
1.74
1.34
1.14
1.37
1 61 1 78 1.82
2.11
2.82
3.19
2.79
2.72
3.24
5 05
4 42
4 24
5 22
5 67
5 45
7 63
8 32
7 60
7 48
8 44
8 75
1. Excludes agricultural business; real estate operators; medical, legal, educational, and
cultural services; and nonprofit membership organizations.
2. Includes guided missiles and space vehicles.
3. Excludes guided missiles and space vehicles.
.16
4.98
3.67
1.31
Commercial and other
6 45
1 29
82
.73
1.23
.16
8.26 8.70
1.51 1.53
.43
.38
72
66
1 56 1 73
3 12 3 15
.33 .37
.69
.78
09
07
.11 .15
.05
05
.46
.49
5.24 5.00 4.90
3.62 3.55 3.53
1 62 1 45 1.38
Communication
6 02
12
6.95 7.85 8.02
1.22 1.34 1.52
.30
.37
.33
62
77
64
1 17 1 55 1 58
2.76 2 89 3 00
.26
.31
.31
.62
.62
.63
06
05
06
.10
.09
.09
.04
04
04
.43
.44
.43
Mining
Railroad
Air transportation..
Other transportation
1964
15. 9<
42
.68
1.00
77
.18
.03
1963
31. 7'
.59
26
11
04
16
51
25
14
04
05
1962
7.53
1.51
1.26
54
14
25
.41
.57
49
06
1961
6.79
1.27
66
23
13
21
.38
.45
36
05
1960
5 81
1.26
.92
44
20
.43
13
16
1959
5.61
1.56
7.45
1.61
.76
32
36
1958
7.84
2.45
5 41
1.02
5 31
1.55
1957
15.40 16.51 12.38 12.77 15.09 14.33 15.06 16.22 19.34 23.44 28.20 28.51 28.37
4 91
.96
5 21
1.94
10.89 12.29 11.86
1956
3.39
9 13
1.S
3. K
5.6
1.1
1.1
.o<
.2*
.1^
.6,
6.83
8.31
9 99 10 99 12 02 13 19 14 48 14.59 15.14
15. 7£
3.85
9 Preliminary.
NOTE.—Details may not add to totals because of rounding.
Sources: U.S. Department of Commerce, Office of Business Economics, and the Securities
and Exchange Commission.
SURVEY OF CURRENT BUSINESS
30
January 1970
Table 2.—Expenditures for New Plant and Equipment by U.S. Business,1 Quarterly, Not Adjusted for Seasonal Variation, 1947-69
(Billions of dollars]
Manufacturing industries
All
industries
Durable goods
Total
Primary metal
Total
1947: I
II
III.
IV
1948: I
II
Ill
IV...
1949: I
„
II
III
IV—.
1950: I
II
III
IV..
1951: I
II
III
IV..
1952: I
II
Ill
IV..
1953: I
II
III
IV—
1954: I
II
Ill
IV
1955: I ._
II
__. .
Ill
IV
1956: I .
II.
Ill
rv
1957: I ..
II
Ill
IV
1958: I .
II_
Ill
rv .
1959: I
II.
III .
IV
1960: I
II .
Ill
IV
1961: I
II
Ill
_
rv .
1962: I
II .
Ill
IV
1963: I
II
III
IV
1964:1
II
III
IV
1965: I
II
III
rv
1966: I
II
_.
.
..
Ill
rv
1967: I
II
Ill
IV
1968: I
II
III
IV .1969: I
II
III
4.06
4.79
4.88
5.60
4.75
5.34
5.18
6.03
4.66
4.92
4.56
4.84
4.05
4.73
5.17
6.26
5.40
6.47
6.44
7.15
6.24
6.85
6.20
7.14
6.27
7.25
7.05
7.65
6.31
7.02
6.70
7.15
6.01
7.16
7.62
8.74
7.67
9.04
9.04
9.98
8.54
9.85
9.57
9.98
7.70
8.02
7.72
8.45
7.09
8.46
8.62
9.38
8.06
9.72
9.07
9.90
7.72
9.07
8.93
10.18
8.27
9.80
9.71
10.61
8.39
10.14
10.40
11.84
10.00
11.85
11.70
13.42
11.20
13.63
13.65
15.93
13.33
16.05
15.92
18.22
14.46
16.69
16.20
18.12
15.10
16.85
16.79
19.03
16.04
18.81
19.25
1.80
2.11
2.08
2.44
2.15
2.28
2.13
2.45
1.85
1.88
1.64
1.76
1.42
1.68
1.84
2.45
2.12
2.70
2.70
3.19
2.58
3.04
2.65
3.18
2.60
3.09
2.86
3.31
2.58
2.91
2.68
3.07
2.31
2.91
3.02
3.65
3.03
3.84
3.95
4.58
3.61
4.31
4.14
4.45
3.20
3.23
2.84
3.11
2.59
3.16
3.19
3.83
3.17
3.97
3.73
4.22
3.09
3.66
3.43
4.16
3.20
3.75
3.77
4.34
3.31
4.01
4.14
4.77
3.94
4.77
4.78
5.86
4.71
5.69
5.92
7.11
5.79
7.03
7.08
8.30
6.54
7.33
6.88
7.77
6.15
6.99
7.13
8.10
6.58
7.82
8.16
0.71
.86
.78
.90
.74
.84
.82
.90
.64
.61
.56
.64
.52
.66
.73
1.03
.88
1.16
1.27
1.51
1.20
1.33
1.20
1.48
1.18
1.35
1.26
1.52
1.14
1.26
1.15
1.36
1.04
1.27
1.38
1.72
1.43
1.82
1.91
2.29
1.71
2.06
1.94
2.13
1.52
1.45
1.28
1.36
1.11
1.45
1.47
1.79
1.54
1.89
1.77
2.03
1.41
1.59
1.47
1.84
1.38
1.69
1.74
1.99
1.51
1.88
1.88
2.25
1.86
2.29
2.27
2.86
2.24
2.77
2.89
3.60
2.88
3.50
3.46
4.21
3.14
3.56
3.40
3.96
3.06
3.36
3.54
4.16
3.36
3.98
4.03
Total 2
Blast
furnace
steel works
0.15
.22
.19
.25
.20
.24
.24
.26
.20
.19
.17
.18
.14
.15
.17
.26
.22
.32
.38
.52
.42
.51
.45
.57
.38
.42
.37
.38
.25
.26
.21
.24
.18
.24
.26
.34
.27
.38
.38
.58
.46
.63
.66
.71
.44
.42
.36
.35
.26
.34
.26
.41
.38
.48
.48
.49
.32
.33
.30
.35
.25
.31
.33
.38
.27
.36
.41
.47
.42
.50
.54
.71
.48
.58
.64
.83
.58
.75
.74
.90
.68
.81
.81
.93
.70
.79
.88
.99
.71
.81
.81
0.08
.12
.10
.15
.12
.14
.15
.16
.12
.12
.10
.10
.08
.10
.10
.15
.12
.16
.20
.28
.24
.33
.28
.41
.23
.25
.22
.22
.15
.16
.13
.15
.12
.16
.16
.22
.17
.24
.24
.36
.26
.34
.36
.40
.27
.27
.23
.22
.16
.22
.16
.28
.27
.36
.36
.36
.22
.22
.19
.23
.16
.19
.20
.22
.16
.21
.23
.29
.27
.32
.35
.47
.29
.37
.40
.51
.33
.42
.42
.52
.39
.48
.48
.57
.40
.46
.52
.62
.41
.47
.45
Nonferrous
1. Excludes agricultural business; real estate operators; medical, legal, educational, and
cultural service; and nonprofit organizations.
2. Includes data not shown separately.
0.03
.05
.05
.05
.04
.05
.05
.05
.03
.03
.04
.04
.04
.02
.03
.04
.05
.07
.08
.12
.12
.13
.15
.15
.11
.12
.10
.11
.07
.07
.06
.06
.04
.05
.06
.08
.07
.09
.11
.17
.16
.23
.24
.25
.15
.12
.10
.11
.08
.09
.07
.10
.07
.08
.08
.09
.07
.08
.08
.08
.06
.08
.09
.12
.09
.12
.13
.12
.10
.13
.14
.18
.15
.16
.18
.24
.19
.25
.24
.30
.24
.27
.27
.29
.24
.26
.29
.31
.23
.27
.28
Electrical Machinery
except
machinery
electrical
0.06
.08
.07
.09
.06
.08
.08
.07
.06
.05
.04
.06
.04
.05
.07
.09
.07
.10
.11
.14
.10
.11
.10
.14
.10
.14
.14
.19
.12
.13
.12
.16
.11
.12
.13
.17
.13
.18
.20
.26
.16
.20
.19
.23
.14
.16
.13
.18
.12
.16
.17
.22
.16
.21
.21
.32
.19
.23
.22
.24
.16
.19
.20
.25
.17
.20
.19
.24
.17
.21
.21
.27
.19
.25
.29
.39
.30
.38
.39
.54
.36
.41
.41
.51
.37
.44
.43
.54
.39
.50
.49
0.13
.14
.12
.13
.12
.13
.13
.14
.10
.10
.09
.10
.08
.09
.10
.14
.12
.15
.18
.22
.16
.17
.15
.21
.18
.21
.18
.21
.16
.17
.16
.19
.15
.18
.20
.25
.22
.25
.26
.32
.26
.31
.30
.38
.27
.24
.20
.22
.19
.25
.25
.32
.30
.33
.27
.35
.29
.31
.25
.35
.30
.34
.31
.36
.29
.35
.32
.42
.36
.45
.43
.55
.45
.54
.55
.77
.62
.72
.68
.86
.70
.79
.71
.74
.66
.65
.67
.85
.72
.84
.86
Transportation equipment
Total 2
0.14
.16
.13
.17
.14
.14
.13
.17
.10
.12
.11
.12
.08
.13
.16
.20
.18
.26
.28
.28
.23
.25
.24
.26
.21
.23
.25
.36
.28
.36
.34
.34
.24
.29
.33
.40
.37
.47
.52
.53
.38
.42
.34
.31
.22
.22
.21
.20
.18
.22
.27
.28
.25
.32
.34
.34
.22
.28
.26
.34
.26
.33
.36
.38
.31
.40
.41
.46
.37
.49
.52
.61
.52
.64
.69
.70
.60
.75
.78
.83
.61
.70
.67
.74
.54
.61
.65
.68
.59
.69
.77
Motor
vehicles
0.12
.14
.10
.14
.12
.11
.11
.14
.08
.09
.09
.10
.07
.11
.14
.17
.15
.20
.21
.20
.17
.18
.20
.21
.17
.18
.20
.32
.25
.31
.29
.28
.19
.22
.25
.30
.29
.37
.40
.38
.25
.27
.21
.17
.12
.14
.12
.10
.10
.13
.16
.17
.14
.21
.23
.21
.13
.18
.18
.20
.15
.21
.20
.22
.18
.27
.27
.28
.23
.33
.39
.44
.39
.50
.51
.49
,40
.46
.47
.47
.35
.42
.38
.39
.32
.34
.35
.35
.34
.40
.46
Aircraft 3
0.01
.01
.01
.01
.01
.02
.01
.02
.01
.02
.01
.01
.01
.01
.02
.02
.03
.04
.05
.06
.05
.05
.03
.04
.04
.04
.04
.03
.03
.04
.04
.05
.04
.05
.06
.07
.06
.09
.10
.12
.10
.13
.11
.12
.08
.06
.07
.07
.06
.07
08
.09
.08
.08
.08
.10
.06
.07
.07
.10
.07
.09
.12
.12
.09
.11
.11
.14
.10
.11
.09
.12
.08
.09
.13
.16
.15
.23
.25
.28
.21
.22
.22
.28
.17
.21
.23
.25
.18
.22
.23
Stone,
clay, and
glass
0.06
.09
.09
.08
.06
.07
.06
.08
.04
.04
.03
.05
.04
.07
.08
.11
.08
.12
.12
.14
.10
.09
.09
.10
.09
.10
.10
.11
.09
.11
.10
.15
.11
.13
.16
.24
.17
.22
.23
.26
.18
.20
.18
.19
.17
.15
.11
.12
.13
.17
.21
.18
.18
.20
.18
.19
.14
.16
.18
.22
.14
.19
.17
.20
.16
.17
.16
.18
.17
.18
.17
.22
.19
.23
.23
.27
.26
.26
.27
.37
.25
.25
.22
.24
.18
.23
.20
.25
.23
.28
.27
Other
durables 4
0.16
.18
.17
.17
.15
.18
.18
.18
.14
.12
.11
.13
.13
.17
.17
.22
.20
.21
.20
.22
.20
.20
.17
.20
.22
.24
.21
.26
.24
.23
.22
.28
.24
.30
.29
.33
.26
.32
.32
.35
.27
.30
.27
.32
.28
.27
.28
.30
.24
.30
.32
.36
.29
.35
.29
.34
.25
.28
.26
.34
.27
.33
.37
.41
.30
.40
.40
.48
.36
.46
.41
.50
.42
.53
.49
.63
.53
.64
.60
.72
.53
.59
.58
.80
.60
.66
.70
.85
.71
.86
.84
3. Includes guided missiles and space vehicles.
4. Includes fabricated metal, lumber, furniture, instrument, ordnance and miscellaneous
except guided missiles and space vehicles.
January 1970
SURVEY OF CURRENT BUSINESS
31
Table 2.—Expenditures for New Plant and Equipment by U.S. Business,1 Quarterly, Not Adjusted for Seasonal Variation, 1947-69—Con.
{Billions of dollars]
Nonmanufacturing industries
Manufacturing industries— Continued
Public utilities
Nondurable goods
Total
1947: I
II
III. .
IV
1948: I
II
III_.
IV
1949: I
II
III
IV
1950: I
II
III
IV.
1951: I
II
III..
rv.
1952: I
II
III.
IV.
1953: I
II
III..
IV
1954: I
II
III
IV.
1955: I
II
III
IV
1956: I
II
III...
rv
1957: I
II....
Ill
IV.
1958: I
II
III
IV
1959: I
II
III
IV
1960: I
II
III..
IV
1961: I
II
Ill
IV
1962: I
II
III
IV
1963: I
II.
Ill .
IV
1964: I
II
III .
IV
1965: I
II-..
Ill
IV...
1966: I
II .
Ill
rv
1967: I
II
III
IV „
1968: I .
II
III..
IV
1969: I
III
III
_
1.10
1.25
1.30
1.55
1.41
1.44
1.31
1.55
1.21
1.27
1.08
1.12
.89
1.02
1.11
1.42
1.24
1.54
1.43
1.68
1.37
1.72
1.45
1.70
1.42
1.75
1.59
1.80
1.44
1.65
1.53
1.71
1.27
1.64
1.64
1.92
1.60
2.02
2.04
2.28
1.90
2.25
2.20
2.32
1.68
1.78
1.57
1.75
1.47
1.72
1.72
2.04
1.63
2.08
1.96
2.19
1.68
2.06
1.96
2.32
1.82
2.07
2.03
2.35
1.80
2.12
2.25
2.52
2.08
2.48
2.51
3.00
2.47
2.92
3.03
3.52
2.91
3.52
3.62
4.09
3.40
3.77
3.48
3.81
3.09
3.63
3.59
3.94
3.22
3.84
4.12
Food including Textile Paper
beverage
0.21
.23
.24
.26
.25
.28
.30
.30
.26
.24
.22
.20
.17
.19
.19
.24
.24
.26
.22
.22
.20
.24
.20
.22
.22
.28
.22
.22
.23
.25
.22
.23
.22
.25
.21
.23
.22
.27
.27
.29
.28
.30
.28
.30
.24
.32
.26
.29
.27
.32
.31
.32
.28
.37
.34
.36
.33
.38
.38
.43
.34
.40
.35
.42
.31
.37
.42
.42
.38
.44
.45
.44
.37
.48
.46
.52
.45
.55
.54
.55
.49
.57
.50
.52
.45
.57
.61
.57
.54
.64
.68
0.11
.13
.13
.14
.14
.15
.14
.15
.15
.13
.09
.09
.09
.10
.10
.14
.11
.14
.11
.12
.11
.11
.08
.09
.09
.10
.08
.08
.07
.08
.07
.08
.07
.08
.07
.10
.09
.10
.09
.10
.09
.09
.07
.07
.06
.05
.05
.06
.06
.08
.07
.10
.09
.09
.09
.10
.08
.09
.08
.08
.08
.10
.10
.11
.10
.12
.10
.11
.10
.12
.13
.17
.13
.15
.18
.21
.18
.23
.21
.21
.18
.18
.16
.16
.13
.13
.13
.14
.13
.16
.17
Chem- Petroical
leum
0.09
.08
.09
.11
.09
.10
.10
.09
.07
.08
.07
.08
.07
.08
.08
.10
.09
.11
.11
.11
.08
.09
.09
.10
.08
.10
.11
.12
.10
.12
.11
.12
.09
.12
.14
.16
.15
.20
.20
.24
.19
.22
.20
.19
,15
.14
.15
.13
.12
.14
.16
.20
.16
.19
.20
.21
.16
.17
.15
.17
.13
.16
.17
.20
.14
.18
.19
.21
.18
.22
.24
.32
.26
.30
.31
.35
.28
.36
.37
.43
.38
.42
.40
.36
.27
.36
.32
.37
.31
.40
.41
5. Includes apparel, tobacco, leather and printing-publishing.
6. Includes trade, service, construction, finance and insurance.
0.25
.29
.24
.28
.23
.25
.20
.26
.16
.19
.15
.17
.14
.18
.19
.26
.25
.33
.31
.36
.31
.35
.34
.39
.32
.38
.34
.38
.31
.29
.25
.28
.23
.23
.24
.32
.28
.37
.37
.44
.35
.44
.44
.50
.35
.36
.30
.31
.24
.28
.28
.37
.31
.40
.40
.44
.32
.41
.39
.47
.36
.39
.37
.44
.38
.43
.42
.50
.39
.49
.52
.68
.57
.68
.66
.82
.65
.82
.80
.99
.78
.82
.71
.75
.65
.76
.66
.77
.67
.76
.76
0.32
.38
.45
.59
.57
.51
.46
.63
.44
.50
.43
.47
.33
.38
.41
.50
.39
.54
.56
.73
.53
.78
.62
.79
.56
.74
.73
.86
.58
.76
.74
.85
.54
.80
.82
.92
.69
.89
.90
.99
.81
.99
1.00
1.05
.66
.70
.62
.74
.58
.68
.69
.80
.57
.77
.70
.86
.61
.77
.75
.87
.68
.75
.82
.87
.64
.76
.80
.94
.75
.90
.89
1.05
.83
.96
1.03
1.21
1.00
1.14
1.19
1.37
1.12
1.28
1.22
1.46
1.15
1.26
1.33
1.50
1.12
1.32
1.49
Rubber
0.04
.04
.04
.05
.04
.04
.03
.03
.03
.03
.03
.02
.03
.02
.03
.05
.04
.04
.04
.06
.04
.06
.05
.04
.04
.06
.05
.06
.04
.05
.04
.05
.04
.05
.05
.06
.06
.07
.07
.08
.06
.07
.06
.07
.06
.05
.05
.05
.05
.06
.07
.08
.08
.08
.08
.08
.07
.07
.08
.10
.07
.09
.09
.09
.07
.08
.11
.10
.10
.10
.11
.13
.12
.14
.14
.15
.13
.17
.17
.18
.14
.16
.16
.21
.18
.22
.26
.31
.24
.28
.28
Other
nonTotal Mining
durables «
0.08
.10
.10
.12
.10
.11
.08
.10
.10
.11
.09
.09
.07
.08
.10
.13
.12
.12
.08
.07
.09
.09
.06
.07
.10
.09
.07
.08
.10
.11
.10
.11
.09
.12
.11
.14
.11
.13
.14
.15
.12
.14
.14
.15
.16
.15
.14
.17
.15
.16
.14
.18
.14
.18
.15
.15
.12
.17
.14
.20
.15
.18
.14
.22
.16
.18
.20
.24
.18
.19
.16
.21
.19
.22
.24
.26
.21
.26
.34
.37
.31
.33
.33
.33
.25
.32
.27
.28
.21
.27
.32
2.26
2.68
2.80
3.16
2.60
3.06
3.05
3.58
2.81
3.05
2.92
3.08
2.64
3.04
3.33
3.81
3.28
3.77
3.74
3.97
3.66
3.81
3.55
3.97
3.66
4.15
4.19
4.34
3.73
4.11
4.03
4.08
3.70
4.26
4.60
5.09
4.63
5.20
5.10
5.41
4.93
5.54
5.43
5.53
4.50
4.79
4.88
5.34
4.50
5.29
5.43
5.56
4.88
5.75
5.34
5.68
4.63
5.42
5.50
6.03
5.07
6.04
5.94
6.27
5.08
6.13
6.26
7.07
6.06
7.08
6.92
7.56
6.49
7.94
7.73
8.82
7.54
9.02
8.84
9.92
7.93
9.36
9.32
10.35
8.95
9.86
9.66
10.93
9.45
10.99
11.10
0.11
.16
.17
.25
.16
.26
.20
.30
.25
.24
.19
.20
.17
.20
.22
.26
.22
.29
.29
.31
.29
.31
.28
.32
.27
.28
.33
.37
.28
.34
.33
.33
.25
.32
.34
.40
.35
.42
.41
.46
.39
.43
.43
.43
.34
.36
.34
.39
.30
.34
.35
.37
.30
.36
.33
.32
.28
.34
.32
.35
.33
.36
.36
.34
.30
.31
.31
.34
.31
.34.
.34
.36
.32
.38
.36
.39
.36
.43
.40
.42
.36
.39
.44
.47
.42
.43
.39
.40
.42
.48
.47
Railroad
0.16
.22
.23
.31
.28
.32
.33
.43
.38
.40
.33
.32
.23
.31
.31
.33
.31
.42
.38
.46
.39
.42
.31
.38
.34
.39
.32
.37
.27
.27
.19
.20
.20
.24
.24
.35
.33
.36
.31
.37
.38
.41
.40
.38
.29
.23
.16
.18
.18
.29
.31
.24
.28
.33
.27
.29
.20
.22
.20
.19
.19
.32
.28
.23
.24
.32
.33
.37
.37
.43
.44
.41
.46
.51
.50
.52
.46
.67
.58
.67
.50
.45
.41
.50
.39
.37
.31
.38
.38
.44
.49
Air
transportation
Other
transportation
0.03
.06
.04
.04
.02
.04
.03
.02
.02
.02
.04
.04
.01
.02
.03
.04
.02
.05
.04
.03
.06
.06
.05
.07
.06
.06
.05
.07
.08
.06
.05
.05
.05
.08
.06
.06
.07
.08
.09
.11
.05
.14
.10
.11
.11
.08
.06
.12
.13
.20
.22
.23
.18
.20
.14
.14
.17
.19
.18
.18
.13
.20
.12
.07
,07
.10
.09
.14
.22
.28
.25
.28
.26
.34
.34
.28
.38
.54
.41
.41
.37
.72
.56
.64
.68
.58
.64
.66
.68
.66
.53
0.25
.30
.28
.30
.27
.31
.28
.31
.20
.21
.19
.16
.24
.28
.29
.29
.33
.36
.33
.30
.32
.34
.27
.30
.30
.32
.35
.32
.30
.31
.31
.31
.30
.33
.32
.35
.32
.33
.34
.32
.29
.34
.33
.35
.26
.26
.24
.30
.30
.35
.34
.34
.30
.38
.32
.31
.24
.30
.32
.37
.39
.44
.38
.43
.35
.45
.37
.40
.33
.41
.36
.39
.34
.46
.42
.46
.36
.47
.40
.42
.31
.38
.41
.38
.30
.42
.41
.47
.38
.46
.40
Total
0.26
.36
.42
.50
.46
.62
.64
.83
.63
.77
.79
.90
.63
.73
.84
1.05
.71
.88
.95
1.02
.80
.91
.93
1.10
.89
1.11
1.16
1.18
.88
1.06
1.00
1.04
.80
.99
1.09
1.15
.87
1.11
1.21
1.34
1.11
1.38
1.57
1.61
1.13
1.30
1.50
1.58
1.09
1.33
1.34
1.37
1.08
1.31
1.39
1.46
1.00
1.26
1.36
1.39
.95
1.23
1.37
1.35
.92
1.24
1.41
1.41
1.04
1.39
1.51
1.55
1.16
1.51
1.66
1.80
1.41
1.84
2.08
2.09
1.63
2.18
2.35
2.59
2.07
2.62
2.61
2.90
2.36
2.99
3.03
Electric
0.18
.24
.27
.34
.36
.47
.46
.60
.47
.56
.54
.60
.44
.52
.53
.58
.48
.58
.58
.62
.58
.66
.69
.79
.66
.81
.84
.88
.68
.79
.76
.81
.64
.75
.73
.75
.60
.75
.84
.95
.82
.96
1.05
1.14
.88
1.03
1.01
1.07
.78
.91
.92
1.00
.77
.93
.92
1.00
.74
.92
.92
.96
.74
.92
.90
.97
.73
.92
.98
1.05
.81
1.01
1.02
1.13
.91
1.09
1.12
1.31
1.08
1.33
1.42
1.56
1.31
1.65
1.71
2.08
1.69
1.94
1.87
2.16
1.88
2.22
2.23
Gas
and
other
0.09
.12
.15
.16
.09
.14
.18
.23
.16
.21
.25
.30
.19
.22
.30
.47
.23
.30
.38
.40
.22
.25
.23
.32
.23
.30
.33
.31
.21
.27
.24
.23
.15
.24
.36
.40
.27
.36
.37
.38
.29
.42
.52
.47
.25
.27
.50
.51
.32
.43
.42
.38
.31
.38
.47
.46
.25
.34
.43
.43
.21
.31
.47
.38
.20
.31
.43
.37
.23
.38
.48
.42
.25
.42
.54
.49
.34
.52
.67
.53
.32
.53
.64
.51
.38
.68
.74
.74
.48
.77
.80
Communication
0.30
.26
.37
.48
.43
.44
.42
.44
.36
.36
.31
.31
.27
.28
.27
.32
.30
.33
.33
.42
.37
.39
.39
.45
.40
.46
.43
.49
.43
.48
.44
.48
.45
.50
.52
.64
.60
.71
.70
.82
.76
.84
.77
.83
.70
.73
.64
.71
.61
.69
.67
.75
.73
.82
.80
.88
.78
.85
.82
.94
.93
.99
.92
1.02
.90
.02
.00
.14
.04
.18
.14
.25
.15
.33
.31
.51
.35
.52
.46
.70
.45
.60
.57
.73
.59
.62
.61
2.00
1.81
2.00
2.11
Commercial
and
other 8
1.15
1.33
1.30
1.27
.98
1.06
1.14
1.23
.97
.05
.08
.15
.08
.22
1.38
1.54
1.38
1.44
1.43
1.42
1.42
1.37
1.32
1.35
1.42
1.52
1.55
1.53
1.49
1.59
1.70
1.66
1.66
1.80
2.01
2.15
2.09
2.19
2.04
2.00
1.94
2.01
1.83
1.82
1.66
1.82
1.92
2.07
1.90
2.09
2.20
2.26
2.01
2.35
2.09
2.29
1.97
2.25
2.30
2.61
2.15
2.51
2.50
2.84
2.29
2.70
2.74
3.26
2.75
3.06
2.88
3.31
2.78
3.41
3.14
3.86
3.21
3.55
3.51
4.22
3.32
3.65
3.59
4.04
3.50
3.81
3.69
4.13
3.41
3.97
4.07
NOTE.—Details may not add to totals because of rounding.
Sources: U.S. Department of Commerce, Office of Business Economics, and the Securities
and Exchange Commission.
SUEVEY OP CURRENT BUSINESS
32
January 1970
Table 3.—Expenditures for New Plant and Equipment by U.S. Business,1 Quarterly, Seasonally Adjusted at Annual Rates, 1947-69
[Billions of dollars]
Manufacturing industries
All
Industries
Durable goods
Total
Primary metal
Total
/
1947: I
II
HI
IV
_..
1948: I
II .
III
IV
1949: I
II
III
IV
1950: I .
II...
Ill
_._
IV
1951: I
II. -.
III
IV
1952: I
II
III
IV
1953: I ...
_ _
II
III
IV
1954: I
II
III
IV .
1955: I
II
III . . .
IV
_._.
1956: I
II
III
IV
1957: I
II
III
IV.
1958: I
II
.
III
IV
1959: I
.....
II
III
IV
. . . .
1960: I
II
III
IV
1961: I
.
II
HI .
IV
1962: I
II
III
-.
IV
1963: I
II
HI
IV....
1964: I
II_
Ill
IV
1965: I .
II
III_
_
IV
1966: I
II
III
IV
1967: I ._
II
III
IV
1968: I
II_
__._
Ill
IV
1969: I _. .
II
_
III
18.14
19.02
19.79
20.27
21.12
21.10
21.09
21.84
20.67
19.47
18.50
17.57
17.94
18.66
20.99
22.95
23.69
25.44
26.17
26.26
27.49
26.84
25.15
26.27
27.68
28.38
28.44
28.26
27.88
27.50
26.93
26.50
26.51
28.09
30.53
32.42
33.85
35.46
36.22
36.83
38.17
38.62
38.35
36.62
34.53
31.43
30.82
31.11
31.92
33.05
34.61
34.44
36.38
37.93
36.39
36.12
35.03
35.39
35.89
37.12
37.46
38.16
38.99
38.58
38.10
39.58
41.82
43.04
45.33
46.26
47.12
48.81
50.70
53.31
55.08
57.69
60.25
62.96
64.31
65.90
65.23
65.60
65.48
65.66
68.09
66.29
67.77
69.05
72.52
73.94
77.84
8.01
8.36
8.64
8.74
9.54
9.00
8.82
8.76
8.20
7.40
6.79
6.28
6.28
6.60
7.66
8.82
9.42
10.56
11.16
11.38
11.64
11.86
10.92
11.36
11.80
12.02
11.73
11.84
11.73
11.30
10.93
11.01
10.54
11.33
12.30
13.06
13.76
15.00
16.01
16.37
16.58
16.88
16.82
15.86
14.62
12.65
11. 59
11.09
11.82
12.39
13.00
13.61
14.51
15.55
15.20
14.95
14.19
14.34
13.97
14.74
14.68
14.75
15.34
15.36
15.20
15.78
16.79
16.90
18.08
18.83
19.37
20.77
21.58
22.51
24.00
25.22
26.43
27.90
28.74
29.37
29.78
29.16
27.85
27.51
28.02
27.84
28.86
28.70
29.99
31.16
33.05
3.24
3.44
3.23
3.12
3.38
3.34
3.40
3.14
2.90
2.43
2.30
2.22
2.36
2.63
3.02
3.62
3.98
4.61
5.22
5.30
5.46
5.27
4.92
5.20
5.36
5.33
5.19
5.35
5.18
4.98
4.70
4.80
4.72
5.01
5.62
6.10
6.40
7.18
7.74
8.12
7.86
8.13
7.89
7.51
6.93
5.72
5.22
4.81
5.11
5.69
5.99
6.31
7.10
7.41
7.23
7.13
6.51
6.25
6.02
6.46
6.38
6.63
7.14
6.95
6.97
7.41
7.72
7.85
8.61
9.05
9.29
9.97
10.38
10.96
11.82
12.51
13.28
13.98
14.18
14.58
14.46
14.26
13.92
13.71
14.11
13.51
14.47
14.39
15.47
15.98
16.53
Total'
0.68
.88
.78
.88
.91
.97
1.00
.90
.89
.76
.70
.62
.65
.62
.68
.88
1.02
1.28
1.58
1.80
1.91
2.02
1.85
1.97
1.77
1.66
1.53
1.32
1.18
1.01
.86
.82
.87
.94
1.06
1.17
1.28
1.47
1.56
2.00
2.14
2.50
2.66
2.48
2.06
1.66
1.45
.22
.19
.34
.03
.44
.76
.90
.92
.70
.52
.31
.19
.20
.20
.24
.31
.30
1.29
1.45
1.62
1.59
2.01
2.04
2.16
2.38
2.31
2.36
2.58
2.82
2.78
3.05
2.98
3.05
3.22
3.33
2.23
3.18
3.31
3.21
3.50
3.39
3.37
3.31
3.20
Electrical Machinery
except
machinery
Blast furnace Nonferrous
electrical
steel works
0.38
.47
.43
.50
.52
.56
.60
.55
.57
.47
.42
.36
.38
.39
.42
.52
.54
.64
.81
.97
1.12
1.31
1.15
1.40
1.10
.99
.89
.74
.70
.61
.54
.53
.57
.62
.67
.75
.82
.95
.98
1.26
1.23
1.34
1.44
1.41
1.26
1.08
.94
.78
.75
.86
.64
1.00
1.28
1.42
1.47
1.24
1.06
.90
.76
.78
.76
.78
.80
.75
.75
.84
.93
.96
1.33
1.31
1.40
1.54
1.42
1.50
1.61
1.68
1.62
1.73
1.71
1.74
1.89
1.96
1.91
1.90
1.96
1.87
2.09
2.07
1.98
1.91
1.80
1. Excludes agricultural business; real estate operators; medical, legal, educational, and
cultural service; atad nonprofit organizations.
2. Includes data not shown separately.
0.14
.21
.18
.18
.20
.21
.20
.17
.14
.14
.16
.15
.16
.10
.11
.16
.22
.30
.34
.42
.52
.53
.62
.52
.48
.47
.42
.39
.33
.29
.22
.20
.19
.19
.26
.27
.33
.38
.45
.58
.72
.94
.98
.86
.68
.48
.40
.38
.36
.38
.30
.34
.31
.32
.31
.32
.33
.30
.30
.28
.30
.32
.36
.41
.41
.47
.52
.44
.47
.52
.57
.62
.67
.64
.74
.86
.87
1.01
.97
1.04
1.08
1.12
1.08
1.02
1.06
1.06
1.14
1.09
1.04
1.12
1.11
0.30
.33
.30
.30
.32
.32
.31
.24
.28
.19
.18
.19
.19
.21
.28
.30
.36
.43
.44
.46
.48
.44
.43
.45
.50
.58
.58
.61
.56
.54
.52
.53
.54
.51
.56
.56
.65
.73
.83
.83
.80
.80
.76
.73
.67
.63
.53
.58
.59
.62
.69
.70
.78
.83
.88
1.04
.94
.92
.93
.79
.78
.77
.81
.84
.82
.82
.77
.78
.83
.84
.85
.89
.92
1.02
1.20
1.29
1.44
1.56
1.62
1.78
1.72
1.69
1.69
1.70
1.76
1.78
1.79
1.78
1.86
2.04
2.02
0.54
.56
.50
.48
.53
.53
.55
.50
.44
.40
.36
.35
.37
.37
.40
.50
.53
.60
.77
.77
.71
.68
.64
.73
.80
.84
.78
.72
.69
.68
.68
.68
.68
.74
.86
.88
.98
.98
.10
.13
.16
.23
.28
.32
1.18
.93
.84
.78
.82
1.00
1.08
1.15
1.28
1.29
1.19
1.25
1.27
1.21
1.10
1.23
1.28
1.32
1.37
1.28
1.28
1.35
1.40
1.49
1.60
1.75
1.84
1.92
1.99
2.12
2.37
2.67
2.73
2.83
2.91
2.98
3.12
3.12
3.02
2.58
2.96
2.56
2.87
2.96
3.22
3.34
3.66
Transportation equipment
Total 2
0.70
.62
.54
.56
.68
.54
.55
.56
.50
.45
.43
.42
.38
.52
.62
.72
.86
1.02
1.09
1.00
1.10
.99
.92
.95
.97
.92
.97
1.34
1.31
1.42
1.30
1.24
1.11
1.13
1.28
1.46
1.73
1.84
1.99
1.96
1.77
1.64
1.33
1.14
1.01
.88
.81
.72
.86
.88
1.04
1.04
1.20
1.24
1.32
1.25
1.04
1.09
1.03
1.22
1.22
1.29
1.41
1.38
1.47
1.56
1.59
1.68
1.76
1.88
2.02
2.24
2.44
2.47
2.66
2.57
2.80
2.96
3.02
3.00
2.87
2.76
2.60
2.65
2.54
2.40
2.54
2.44
2.76
2.7'c
3.00
Motor
vehicles
0.59
.54
.44
.47
.59
.43
.44
.45
.38
.35
.36
.35
.33
.45
.53
.60
.71
.82
.82
.73
.79
.74
.78
.77
.78
.73
.76
1.19
1.14
1.24
1.11
1.02
.90
.88
.97
1.13
1.37
1.43
1.50
1.45
1.20
1.03
.80
.64
.58
.52
.44
.38
.50
.50
.60
.64
.71
.78
.85
.81
.65
.69
.66
.74
.76
.79
.77
.82
.90
1.00
1.02
1.05
1.12
1.26
1.48
1.66
1.86
1.89
1.95
1.86
1.87
1.77
1.79
1.78
1.64
1.61
1.47
1.47
1.49
1.30
1.36
1.33
1.57
1.55
1.78
Aircraft 3
0.04
.04
.05
.04
.04
.06
.05
.06
.06
.06
.04
.04
.03
.04
.06
.08
.12
.16
.22
.22
.24
.20
.12
.15
.16
.15
.17
.12
.13
.14
.14
.17
.17
.21
.25
.27
.30
.34
.41
.42
.48
.51
.44
.42
.34
.26
.28
.24
.28
.30
.31
.32
.36
.33
.33
.36
.30
.30
.27
.34
.31
.38
.48
.40
.43
.44
.45
.46
.49
.44
.35
.40
.39
.38
.52
.55
.72
.96
.99
.96
.98
.90
.88
.96
.82
.85
.90
.86
.88
.92
.92
Stone,
clay and
glass
0.32
.34
.40
.26
.28
.28
.25
.25
.20
.17
.14
.16
.20
.26
.33
.38
.40
.46
.49
.47
.45
.37
.36
.35
.40
.41
.42
.39
.42
.43
.40
.51
.50
.53
.64
.83
.76
.88
.96
.95
.80
.80
.75
.70
.76
.57
.45
.45
.57
.67
.85
.68
.76
.80
.74
.69
.61
.64
.73
.82
.63
.73
.70
.72
.70
.68
.69
.64
.74
.74
.71
.78
.81
.91
.96
.96
1.13
1.04
1.15
1.28
1.11
1.00
.95
.83
.81
.91
.85
.86
1.03
1.11
1.14
Other
durables *
0.70
.72
.71
.64
.66
.71
.74
.69
.60
.47
.48
.49
.56
.66
.71
.84
.82
.83
.86
.80
.82
.76
.72
.75
.92
.92
.91
.97
1.02
.90
.95
1.02
1.03
1.17
1.22
1.20
1.00
1.27
1.30
1.25
1.19
1.16
1.11
1.14
1.26
1.06
1.14
1.06
1.08
1.18
1.30
1.29
1.32
1.36
1.18
1.20
1.14
1.08
1.04
1.20
1.27
1.28
1.54
1.44
1.41
1.54
1.64
1.68
1.68
1.80
1.71
1.76
1.91
2.08
2.05
2.21
2.40
2.54
2.50
2.49
2.41
2.36
2.43
2.76
2.73
2.64
2.92
2.96
3.24
3.45
3.50
3. Includes guided missiles and space vehicles.
4. Includes fabricated metal, lumber, furniture, instrument, ordnance and miscellaneous
except guided missiles and space vehicles.
January 1970
SURVEY OF CURRENT BUSINESS
33
Table 3.—Expenditures for New Plant and Equipment bylJ. S. Business,1 Quarterly, Seasonally Adjusted at Annual Rates, 1947-69—Continued
[Billions of dollars]
Nonmanufacturing industries
Manufacturing industries— Continued
Nondurable goods
Total
1947: I
II
III .
IV..
1948: I
II
III.
IV
1949: I
II
IIIIV.
1950: I
II
HI.
IV
1951: I...
II
III
IV
1952: I
II .
III...
IV
1953: I
II
III
IV
1954: I
II
HI
IV.
1955: I
II
HI.
IV
1956: I
II
III
IV
1957: I
II
III
IV
1958: I
II
III
IV.
1959: I
II
III
IV..
1960: I
II
III
IV
1961: I
II
Ill
IV
1962: I
II
III
IV
1963: I
II
III
IV
1964: I
II
III
IV
1965: I
II
Ill
IV
1966: I
II
III
IV
1967: I
II
III
IV
1968: I
II
III
IV
1969: I.
II
III
_
—
_ _ „
.._
4.77
4.92
5.41
5.61
6.17
5.66
5.42
5.62
5.29
4.97
4.49
4.05
3.93
3.98
4.64
5.20
5.44
5.95
5.94
6.08
6.18
6.59
5.99
6.16
6.45
6.69
6.54
6.49
6.55
6.32
6.23
6.20
5.82
6.32
6.68
6.96
7.36
7.82
8.26
8.25
8.72
8.75
8.93
8.34
7.68
6.92
6.37
6.28
6.71
6.70
7.01
7.30
7.42
8.14
7.97
7.82
7.68
8.09
7.96
8.28
8.30
8.12
8.20
8.41
8.22
8.37
9.07
9.04
9.46
9.78
10.08
10.80
11.20
11.55
12.17
12.70
13.14
13.91
14.56
14.78
15.32
14.90
13.93
13.80
13.91
14.33
14.40
14.31
14.52
15.18
16.52
Food in- !
cluding Textile Paper
| beverage
0.88
.90
.96
1.04
1.04
1.10
1.19
1.16
1.10
.92
.88
.78
.70
.71
.79
.94
1.02
.97
.92
.88
.86
.88
.85
.87
.94
1.04
.93
.88
.98
.91
.93
.90
.91
.91
.88
.90
.94
1.00
1.12
1.14
1.18
1.14
1.18
1.15
1.03
1.20
1.06
1.10
1.19
1.20
1.26
1.22
1.22
1.39
1.38
1.35
1.46
1.46
1.53
1.62
1.53
1.52
1.41
1.58
1.42
1.42
1.66
1.58
1.73
1.69
1.78
1.68
1.68
1.82
1.82
2.00
2.06
2.06
2.14
2.12
2.22
2.14
1.97
2.02
2.04
2.14
2.40
2.23
2.45
2.38
2.68
0.43
.50
.56
.56
.54
.58
.60
.60
.58
.49
.40
.35
.36
.37
.46
.54
.45
.54
.48
.45
.43
.41
.37
.37
.37
.36
.33
.31
.30
.30
.29
.29
.28
.30
.30
.36
.37
.39
.38
.36
.37
.34
.31
.26
.25
.20
.20
.22
.24
.29
.30
.36
.37
.36
.39
.36
.35
.34
.32
.32
.34
.38
.40
.40
.43
.44
.42
.42
.44
.48
.54
.62
.58
.57
.71
.77
.81
.89
.83
.77
.79
.70
.64
.61
.56
.52
.53
.53
.59
.63
.69
Other
Chem- Petroleum Rubber nondurical
ables '
0.38
.33
.38
.40
.40
.41
.38
.34
.32
.30
.27
.29
.30
.30
.33
.37
.41
.43
.42
.41
.38
.35
.36
.36
.36
.39
.43
.44
.47
.46
.42
.46
.41
.47
.55
.60
.70
.79
.80
.87
.86
.85
.80
.71
.67
.57
.58
.48
.54
.56
.63
.70
.72
.77
.81
.77
.72
.68
.60
.59
.61
.64
.66
.73
.63
.71
.77
.74
.84
.89
.96
.16
.17
.17
.24
.28
.28
.41
.45
.55
.73
.64
.59
.33
.24
.40
.26
.37
.42
1.53
1.62
5. Includes apparel, tobacco, leather and printing-publishing.
6. Includes trade, service, construction, finance and insurance.
1.11
1.10
1.02
1.02
1.02
.96
.86
.93
.70
.72
.65
.61
.61
.68
.81
.95
1.09
1.26
1.30
1.33
1.37
1.36
1.42
1.40
1.44
1.48
1.44
1.37
1.38
1.14
1.05
1.00
1.03
.90
1.00
1.14
1.27
1.43
1.54
1.56
1.60
1.71
1.82
1.76
1.61
1.42
1.25
1.09
1.10
1.11
1.14
1.31
1.42
1.58
1.63
1.55
1.43
1.62
1.60
1.65
1.64
1.54
1.54
1.55
1.73
1.70
1.74
1.76
1.74
1.93
2.17
2.39
2.58
2.66
2.76
2.89
2.93
3.19
3.36
3.51
3.50
3.21
2.99
2.67
2.91
2.93
2.78
2.72
3.00
2.95
3.19
1.44
1.54
1.90
1.98
2.60
2.06
1.91
2.12
2.05
2.01
1.77
1.58
1.56
1.52
1.69
1.70
1.85
2.12
2.29
2.50
2.60
3.05
2.50
2.71
2.78
2.87
2.90
2.98
2.85
2.94
2.95
2.96
2.65
3.11
3.23
3.22
3.38
3.46
3.57
3.47
3.92
3.89
3.96
3.66
3.17
2.76
2.48
2.57
2.76
2.70
2.79
2.79
2.71
3.04
2.79
2.98
2.90
3.06
3.00
3.04
3.19
3.01
3.26
3.06
3.00
3.05
3.20
3.31
3.44
3.62
3.55
3.72
3.78
3.88
4.11
4.29
4.52
4.64
4.77
4.85
5.04
5.22
4.86
5.20
5.17
5.16
5.32
5.32
5.04
5.41
5.98
0.17
.17
.17
.17
.16
.14
.12
.10
.12
.12
.12
.09
.12
.10
.14
.18
.18
.17
.17
.22
.20
.21
.20
.16
.19
.21
.20
.20
.19
.18
.17
.18
.18
.18
.22
.22
.24
.27
.28
.30
.26
.27
.25
.26
.25
.22
.20
.20
.23
.23
.30
.28
.32
.32
.32
.28
.29
.30
.30
.36
.32
.35
.34
.32
.30
.32
.45
.39
.44
.42
.42
.47
.54
.56
.56
.56
.58
.66
.67
.64
.62
.64
.62
.77
.82
.88
1.06
1.11
1.07
1.12
1.13
0.36
.39
.42
.44
.41
.41
.36
.37
.41
.41
.39
.36
.28
.29
.43
.51
.44
.44
.36
.29
.33
.33
.29
.28
.38
.34
.30
.32
.38
.39
.42
.43
.36
.45
.49
.53
.46
.49
.58
.55
.53
.55
.60
.54
.70
.56
.60
.61
.65
.61
.59
.63
.64
.69
.65
.53
.54
.64
.61
.70
.68
.69
.60
.76
.71
.71
.84
.84
.83
.75
.66
.76
.87
.89
.98
.93
.96
1.06
1.33
1.34
1.42
1.35
1.26
1.21
1.16
1.30
1.05
1.03
.94
1.11
1.24
Total Mining
10.13
10.66
11.15
11.53
11.58
12.10
12.27
13.08
12.47
12.07
11.71
11.29
11.66
12.06
13.33
14.13
14.27
14.88
15.01
14.87
15.85
14.98
14.23
14.92
15.87
16.36
16.71
16.41
16.15
16.20
16.00
15.50
15.97
16.76
18.23
19.36
20.09
20.46
20.21
20.46
21.59
21.74
21.53
20.76
19.91
18.78
19.23
20.02
20.10
20.66
21.61
20.82
21.87
22.38
21.19
21.16
20.84
21.04
21.92
22.38
22.78
23.40
23.65
23.22
22.91
23.80
25.04
26.14
27.25
27.43
27.75
28.04
29.12
30.80
31.08
32.48
33.82
35.06
35.57
36.53
35.46
36.45
37.62
38.15
40.07
38.45
38.91
40.35
42.53
42.78
44.80
0.49
.61
.74
.88
.72
1.02
.85
1.07
1.12
.92
.82
.71
.76
.77
.90
.93
.97
1.14
1.17
1.13
1.29
1.24
1.14
1.16
1.19
1.12
1.31
1.36
1.24
1.35
1.32
1.23
1.11
1.26
1.36
1.48
1.57
1.66
1.63
1.69
1.78
1.69
1.70
1.60
1.52
1.40
1.35
1.46
1.34
1.32
1.37
1.40
1.32
1.40
1.31
1.20
1.22
1.33
1.26
1.34
1.44
1.39
1.45
1.32
1.31
1.21
1.24
1.31
1.32
1.31
1.35
1.38
1.40
1.48
1.46
1.50
1.58
1.68
1.62
1.60
1.54
1.52
1.76
1.78
1.80
1.66
1.57
1.52
1.83
1.88
1.89
Public utilities
Railroad
Air
transportation
Other
transportation
Total
Electric
Gas and
other
0.71
.83
.95
1.14
1.23
1.23
1.42
1.59
1.64
1.52
1.41
1.17
1.03
1.16
1.33
1.22
1.36
1.56
1.66
1.73
1.68
1.54
1.37
1.41
1.45
1.44
1.43
1.38
1.17
1.01
.84
.71
.84
.90
1.03
1.30
1.37
1.37
1.31
1.41
1.59
1.53
1.74
1.47
1.24
.88
.66
.67
.77
1.06
1.32
.93
1.23
1.18
1.12
1.12
.91
.80
.80
.76
.86
1.15
1.15
.90
1.08
1.16
1.32
1.48
1.60
1.61
1.78
1.62
1.94
1.95
2.04
2.01
1.97
2.60
2.40
2.47
2.12
1.78
1.72
1.82
1.68
1.49
1.29
1.34
1.68
1.76
2.06
0.18
.21
.15
.14
.12
.13
.10
.08
.10
.06
.15
.16
.08
.08
.11
.13
.11
.18
.14
.12
.28
.21
.21
.26
.24
.22
.21
.28
.33
.22
.23
.21
.22
.30
.27
.24
.28
.30
.40
.42
.22
.52
.45
.43
.46
.30
.27
.45
.54
.74
.94
.90
.76
.74
.58
.56
.69
.68
.78
.78
.55
.70
.51
.30
.28
.34
.39
.63
.90
.93
1.05
1.25
1.11
1.15
1.42
1.21
1.61
1.81
1.72
1.81
1.57
2.43
2.35
2.79
2.88
1.98
2.69
2.87
2.89
2.22
2.23
1.05
1.18
1.13
1.16
1.14
1.20
1.16
1.21
.83
.79
.77
.64
.98
1.04
1.16
1.18
1.34
1.38
1.33
1.23
1.30
1.32
1.10
1.22
1.22
1.25
1.40
1.28
1.25
1.20
1.22
1.22
1.24
1.29
1.29
1.36
1.36
1.31
1.33
1.22
1.24
1.32
1.30
1.34
1.14
1.01
.97
1.16
1.28
1.36
1.38
1.30
1.32
1.42
1.29
1.18
1.04
1.10
1.32
1.42
1.71
1.66
1.55
1.63
1.57
1.70
1.48
1.54
1.52
1.50
1.50
1.48
1.58
1.68
1.72
1.72
1.67
1.71
1.62
1.55
1.47
1.38
1.66
1.41
1.43
1.49
1.65
1.75
1.87
1.66
1.65
1.29
1.43
1.63
1.74
2.18
2.46
2.52
2.90
3.04
3.10
3.08
3.15
3.04
2.96
3.24
3.61
3.43
3.54
3.67
3.56
3.86
3.65
3.58
3.93
4.24
4.42
4.45
4.27
4.22
4.22
3.83
3.78
3.80
3.92
4.12
4.14
4.26
4.42
4.53
4.83
5.42
5.51
5.85
5.79
5.54
5.18
5.60
5.66
5.46
5.33
4.98
4.91
5.46
5.21
5.13
5.21
5.06
5.02
4.99
4.96
4.82
4.87
5.00
4.87
4.68
4.88
5.17
5.12
5.26
5.47
5.53
5.65
5.84
5.92
6.10
6.58
7.06
7.21
7.74
7.66
7.98
8.51
8.86
9.46
10.03
10.24
9.82
10.63
11.52
11.63
11.48
0.82
.94
1.08
1.23
1.68
1.84
1.86
2.17
2.17
2.17
2.16
2.17
2.04
2.02
2.12
2.09
2.19
2.26
2.28
2.26
2.68
2.60
2.73
2.87
3.03
3.16
3.27
3.21
3.13
3.10
2.97
2.97
2.99
2.94
2.84
2.74
2.77
2.94
3.25
3.48
3.85
3.80
4.08
4.16
4.14
4.05
3.92
3.88
3.66
3.55
3.56
3.61
3.65
3.64
3.58
3.61
3.55
3.59
3.60
3.46
3.51
3.57
3.50
3.52
3.44
3.59
3.82
3.80
3.83
3.93
4.02
4.09
4.26
4.26
4.42
4.73
4.97
5.21
5.64
5.62
6.01
6.48
6.86
7.47
7.76
7.64
7.50
7.74
8.62
8.71
8.98
0.47
.50
.55
.51
.51
.61
.65
.73
.87
.93
.92
.98
.99
.94
1.13
1.52
1.24
1.28
1.39
1.30
1.18
1.05
.85
1.06
1.22
1.26
1.18
1.06
1.09
1.12
.86
.80
.82
.98
1.28
1.40
1.48
1.48
1.23
1.35
1.57
1.71
1.77
1.63
1.40
1.13
1.69
1.78
1.80
1.78
1.42
1.30
1.81
1.57
1.55
1.60
1.51
1.42
1.39
1.50
1.32
1.30
1.50
1.34
1.24
1.29
1.36
1.32
1.43
1.54
1.51
1.56
1.58
1.67
1.68
1.86
2.09
2.00
2.09
2.04
1.98
2.04
1.99
1.99
2.32
2.60
2.32
2.89
2.90
2.97
2.50
Communication
1.26
1.02
1.52
1.76
1.81
1.77
1.76
1.64
1.51
1.44
1.28
1.14
1.12
1.12
1.13
1.18
1.26
1.30
1.38
1.53
1.58
1.53
1.64
1.68
1.69
1.82
1.80
1.80
1.81
1.85
1.82
1.81
1.90
1.94
2.18
2.38
2.55
2.75
2.90
3.07
3.22
3.24
3.19
3.11
2.97
2.84
2.68
2.68
2.58
2.68
2.79
2.83
3.08
3.20
3.33
3.34
3.31
3.30
3.39
3.52
3.93
3.84
3.80
3.82
3.84
3.96
4,15
4.27
4.44
4.61
4.70
4.66
4.93
5.20
5.42
5.60
5.77
5.97
6.04
6.26
6.19
6.30
6.49
6.37
6.83
6.42
6.67
7.34
7.74
7.92
8.71
Commerical
and
other 8
5.16
5.38
5.03
4.70
4.36
4.30
4.46
4.60
4.23
4.23
4.21
4.32
4.65
4.94
5.46
5.88
5.80
5.78
5.65
5.56
5.86
5.49
5.20
5.25
5.84
6.10
6.10
6.03
6.12
6.35
6.73
6.55
6.87
7.14
7.98
8.48
8.69
8.65
8.10
7.82
8.12
7.92
7.29
7.03
7.05
7.16
7.69
7.94
8.12
8.17
8.83
8.54
8.71
9.22
8.43
8.54
8.61
8.80
9.38
9.60
9.46
9.80
10.19
10.38
10.15
10.55
11.27
11.78
12.22
12.01
11.84
12.00
12.31
13.43
12.91
13.84
14.17
14.08
14.42
15.18
14.57
14.53
14.80
14.54
15.37
15.17
15.22
14.91
15.00
15.67
16.78
NOTE.—Details may not add to totals because of rounding.
Sources: U.S. Department of Commerce, Ofiice of Business Economics, and the Securities
and Exchange Commission.
SUKVEY OF CURRENT BUSINESS
34
the previous series.1 The choice of 1958 and 1963 was dictated by the availability of Censuses for those years.
1. Methodology for the old series is described in two articles
in the SURVEY OF CURRENT BUSINESS: "Capital Expenditures by Manufacturing Industries in the Postwar Period"
in the December 1951 issue and "Capital Expenditures by
Nonmanufacturing Industries" in the August 1952 issue.
January 1970
interpolated
and extrapolated using
eral sources; the major
source was the existing survey data on
Second, annual estimates for other capital expenditures that had been
years in the 1947-1968 period were collected over time by the Securities
data from sev
Table 4.—Starts of Plant and Equipment Projects, Manufacturing and Public Utilities, Quarterly 1963-69
[Billions of dollars]
Manufacturing
Durable goods
Nondurable goods
Public
utilities
Year and quarter
Total i
Total i
Machinery TransporPrimary Electrical
except
tation
metals machinery electrical
equipment
Stone,
clay,
and
glass
Total i
Food including
beverage
Textile
Paper
Chemical
Petroleum
Not adjusted for seasonal variation
1963: I
II
III
_
Year
5.01
4.42
4.19
4.64
18.26
2.61
2.21
1.91
2.06
8.79
0.61
.43
.55
.42
2.01
0.21
21
.18
.19
.80
0.71
29
25
33
1 58
0.60
67
*39
52
2 18
0 16
18
17
15
66
2 40
2 21
2 29
2 57
9 47
0 49
36
37
51
1 73
1964: I
II
HI
IV
Year
5.76
5.79
5.51
5.99
23.03
2.79
2.56
2.66
2.81
10.82
.48
.71
.59
.80
2.60
22
28
30
.25
1 05
77
31
32
58
1 98
48
68
83
52
2 51
2 96
3 22
2 85
3 ig
12 21
1965: I
II
III
IV
Year
7.42
6.70
6.68
7.87
28.67
3.93
3 46
3. 15
4.15
14.68
.77
.83
.69
1.01
3.30
33
37
31
42
1 43
1 16
35
59
70
2 gl
76
1 11
62
88
3 37
26
23
20
24
93
34
26
47
41
1 49
7.99
7.13
6.84
8.13
30.10
4.56
3.76
3.20
4.44
15.96
.85
.98
.78
1.54
4.15
.68
40
41
59
2 08
1 47
40
42
89
3 18
80
94
' 76
' 53
3 03
1967: I
II
III
IV
Year
6 43
7.83
5.78
6 45
26 50
3.15
3.47
2.62
3 27
12 42
76
96
36
73
2 81
44
34
35
41
1 54
82
57
66
64
2 68
49
71
47
57
2 24
1968: I ..
II
Ill
IV
Year
6 92
7.12
7.40
9.05
30.50
3 38
3 52
3.62
4 94
15 45
81
63
99
78
3 21
42
53
33
53
1 81
62
59
61
88
2 70
60
80
' 79
71
2 90
8.48
8.65
8.03
4 18
4 24
4 00
76
69
75
61
68
75
89
95
77
rv
1966: I
II
III
IV
Year
1969: I
II
Ill
_
73
87
65
0.32
22
29
22
1.05
0.36
41
.51
.39
1.67
0.88
.84
.78
.99
3.48
1.8.
1.4
.6
1.3
5.3
39
46
42
46
1 74
0 09
11
07
18
45
15
14
13
17
58
16
.44
20
.27
1 08
.74
.67
.77
.66
2 84
1.18
1.12
1.04
1.25
4.59
2.0
1.2
1.1
1.2
5.6
3 49
3 25
3 52
3 72
13 98
48
58
73
51
2 30
20
*22
21
" 22
85
50
32
30
44
1 56
82
81
73
76
3 12
.99
1.06
1.16
1.30
4.50
2.8.
1.8
1.3
2.51
8.2
12
33
20
20
*84
3 43
3 38
3 64
3 69
14 14
61
48
45
50
2 04
37
20
39
*28
1 24
.80
1 08
1 01
.88
3.77
1.02
1.01
1.00
1.19
4.22
3.0
1.9
2.0
2.5
9.5
13
61
' 14
18
66
3 28
4 36
3 26
3 18
14 08
44
56
57
42
2 00
23
18
18
20
80
11
14
12
16
53
30
69
36
18
1 52
69
1.09
.43
26
2 48
1.31
1.50
1.26
1 52
5 59
4.5
3.0
2.4
2.6
12.5
22
26
26
1 19
1 92
3 55
3 go
3 78
4 11
15 05
51
61
54
66
2 32
10
15
19
16
59
51
43
18
30
1 42
70
.80
.54
.94
2.98
1.20
1.17
1.81
1.40
5.57
4.1
3.0
1.9
3.7
12.8
34
17
28
4 30
4 41
4 03
59
92
69
14
19
14
46
35
.46
.88
1.06
1.03
1.66
1.35
1.18
5.3
2.53.5
Adjusted for seasonal variation at annual rates
1963: I
II...
Ill
IV
18.49
18 06
18 43
18.14
1964: I
II
III...
IV
21
23
24
23
1965: I
II..
III...
IV
9 14
9 01
9 03
8 14
2 37
1 72
2 67
1 44
80
81
80
78
9 87
10 34
12 79
10 74
1 94
2 86
3 15
2 56
27 67
26 46
29 74
30 73
14
13
15
15
06
58
14
98
1966: I
II
Ill
IV
29
28
30
30
93
28
07
77
16
15
14
16
18
14
86
18
3 19
3 26
3 68
3 37
3 44
3 81
3 90
5 07
1967: I
II
Ill
IV
24 83
31 21
25 42
24 36
11
14
11
12
55
54
88
32
1968: I.
II
Ill
IV
27 21
28 65
33 17
34.80
12
14
17
18
1969: I
II
Ill
33 65
35 34
36.29
51
54
50
33
61
67
70
65
9 35
9 05
9 40
10 00
2 01
1 47
1 51
1 94
35
47
32
64
1 09
96
1 21
.92
1.32
1.56
1.99
1.85
3.58
3.43
3.29
3.61
5.1
6.6
3.8.
5.4
2 04
2 15
3 75
2 26
1 03
85
11 64
13 20
U 71
12 59
1 58
1 88
1 70
1 79
60
56
55
59
57
1 85
82
1 18
2 81
2.49
3.04
3.12
4.80
4.58
4.41
4.56
5.7
5.7
6.3
4.9
3 29
1 38
2 03
1* 66
13 61
14 60
14 75
1 94
2 32
3 00
2 01
81
91
87
79
1 80
1 25
1 25
1 95
3.15
2 88
3.00
3.50
4.05
4.29
4.89
4.75
8.0
6.7
7.3
10.7
50
13 75
2 48
15 21
14 59
1 78
2 05
1.36
73
1 67
1 29
3.12
3.68
4.42
3.96
4.22
4.08
4.24
4.33
8.4
8.9
11.2
10.4
1 78
2 15
2 22
1 70
1.08
2 45
1 57
.85
2.74
3.58
2.00
1.16
5.49
6.02
5.27
5.55
12.5
13.9
13.0
11.0
1 86
1 50
.77
1.46
2.80
2.58
2.53
4.11
5.04
4.64
7.60
5.12
11.4
14.0
10.4
15.7
1.69
1.24
1.96
3.58
3.38
4.92
7.04
5.37
4.94
14.8
11.8
18.8
2 56
1 59
1 92
1 46
1 38
1 74
2 17
84
1 08
1 30
1 76
2 03
I ftfi
2 37
1 27
1 45
1 37
1 62
2 75
9 ^n
9 78
q 40
9 70
q 88
2 60
3 62
3 44
1 88
2 21
9 M
9 9^
3 4fi
q OA
q 04
9 Ifi
3 05
3 76
1 84
2 54
1 69
1 36
1 64
1 49
2 09
3 37
2 42
2 10
9 ^Q
1 Qfi
2 54
92
72
20
34
3 23
2 gl
5 22
2 60
1 63
2 10
1 55
1 87
16 10
18 30
19 03
2 93
2 75
3 98
2 34
2*72
3 58
i oo
1 EC
q Oft
q° Kfi
i fil
q 00
3 06
3 32
o qa
ft 88
3 84
0 10
9 fiH
9 fiS
84.
99
lie
88
78
19 88
13 93
15 97
16 46
2 02
2 38
2 20
2 93
1 00
74
76
70
49
57
47
58
45
60
75
55
17 55
17 04
17 26
2 38
3 59
2 77
61
"77
56
iq 14.
58
13 28
66
64
13 54
12 04
Q7
8Q
14 OQ
7q
3 29
3 24
1 23
4 24
3 22
2 89
2 67
1 KC
KO
1 34
Ifi fi7
1. Includes data not shown separately.
NOTE.—-Details may not add to totals because of rounding.
Sources: U.S. Department of Commerce, Office of Business Economics, and the Securities and Exchange Commission.
1 on
SURVEY OF CUEEENT BUSINESS
January 1970
and Exchange Commission and the
Interstate Commerce Commission (from
companies registered with, or under the
jurisdiction of those agencies) and by
the Office of Business Economics from a
sample of other companies. Third,
quarterly estimates were derived from
the revised annual estimates by using
the existing quarterly survey data.
There was an extensive retabulation
of the OBE-SEC sample data. All reports that had originally been received
35
too late for use in the regular survey
estimates were included in the revised
tabulations. The sample was stratified
by industry, by legal form of organization, and by size within the corporate
sector. Companies were classified in
Table 5.—Carryover of Expenditures to be Made on Plant and Equipment Projects, Manufacturing and Public Utilities, 1962-69
[Billions of dollars]
Manufacturing
Durable goods
End of quarter
Total i
Total i
Nondurable goods
Primary Electrical .Machinery TransporStone,
metals machinery
except
clay,
tation equipelectrical
ment
and glass
Total i
Food,
including Textile
beverage
Paper
Public
utilities
Chemical
Petroleum
Not adjusted for seasonal variation
1962: December
7.52
3.76
1.66
0.40
0.21
0.71
0.30
3.76
0.50
0.16
0.43
1.21
1.05
4.43
1963: March
June
September
December.
9.23
9.64
9.69
9.56
4.86
5.19
5.21
5.03
2.00
2.07
2.21
2.16
.45
.45
.45
.41
.62
.56
.49
.39
1.00
1.27
1.25
1.30
.29
.30
.30
.28
4.36
4.44
4.48
4.53
.68
.67
.61
.70
.16
.15
.12
.18
.60
.65
.75
.76
1.18
1.16
1.25
1.15
1.29
1.36
1.34
1.39
5.35
5.59
4.88
4.80
1964: March
June
September
December
11.38
12.38
12.12
13.25
5.96
6.23
6.62
6.57
2.23
2.44
2.50
2.60
.46
.53
.62
.60
.80
.66
.56
.58
1.41
1.60
1.91
1.82
.37
.42
.45
.46
5.42
6.15
6.50
* 6.68
.71
.73
.70
.72
.24
.25
.24
.24
.74
.96
.91
.86
1.50
1.68
1.93
1.92
1.82
2.04
2.19
2.39
5.80
5.69
5.32
4.96
1965: March
June
September
December.
15.96
16.96
17.72
18.48
8.26
8.94
9.21
9.76
2.88
3.13
3.18
3.36
.74
.86
.88
.91
1.30
1.11
1.15
1.08
2.06
2.54
2.47
2.65
.62
.66
.90
1.04
7.70
8.02
8.51
8.72
.82
.92
1.19
1.18
.30
.38
.41
.42
1.11
1.13
1.12
1.20
2.17
2.30
2.36
2.30
2.55
2.65
2.78
2.87
6.68
6.67
6.33
7.12
1966: March
June
September .
December..
20.68
20.79
20.55
20.38
11.44
11.69
11.43
11.66
3.62
3.85
3.89
4.54
1.29
1.30
1.32
1.38
1.94
1.62
1.36
1.39
2.85
3.04
3.03
2.73
.90
.97
.89
.72
9.24
9.10
9.12
8.72
1.34
1.27
1.18
1.13
.48
.43
.40
.40
1.29
1.13
1.16
1.01
2.45
2.72
2.92
2.81
2.88
2.76
2.57
2.39
8.74
8.85
8.82
9.24
1967: March
June
September .
December ..
20.29
20.83
19.77
18.49
11.67
11.59
10.72
10.04
4.62
4.77
4.32
4.11
1.45
1.38
1.32
1.22
1.50
1.28
1.24
1.13
2.60
2.61
2.41
2.25
.61
.57
.48
.42
8.62
9.24
9.05
8.45
1.08
1.06
1.13
1.04
.33
.29
.24
.24
.93
1.20
1.16
.98
2.72
2.99
2.71
2.22
2.58
2.80
2.84
2.90
12.11
12.93
13.00
13.08
1968: March
June
September
December
19.25
19.41
19.75
20.16
10.33
10.49
10.63
10.84
4.23
4.08
4.19
3.97
1.27
1.36
1.26
1.25
1.08
1.03
.96
1.00
2.31
2.50
2.66
2.70
.45
.48
.54
.90
8.92
8.92
9.12
9.32
1.10
1.14
1.07
1.15
.22
.23
.29
.30
1.22
1.28
1.14
1.07
2.27
2.32
2.19
2.37
2.94
2.84
3.32
3.22
15.11
15.49
14.86
15.74
22.04
22.88
22.75
11.65
11.91
11.88
4.02
3.90
3.85
1.46
1.64
1.90
1.16
1.28
1.18
2.84
3.02
2.90
1.01
.90
.91
10.39
10.96
10.87
1.20
1.48
1.49
.30
.33
.30
1.23
1.18
1.18
2.58
2.88
3.15
3.76
3.79
3.47
18.68
18.23
18.76
1969: March. ..
June
_ _
September
_
_ __ _
Adjusted for seasonal variation
1962: December
7.85
3.96
1.69
.43
.27
.74
.31
3.89
.51
.17
.45
1.27
1.07
4.82
1963: March
June .
September
December... __ .
8.68
9.24
9.66
9.97
4.50
4.90
5.23
5.30
1.96
2.03
2.29
2.25
.43
.42
.43
.44
.34
.49
.50
.48
1.01
.16
.20
.32
.29
.28
.29
.29
4.17
4.34
4.42
4.66
.66
.67
.63
.72
.15
.16
.13
.18
.57
.63
.74
.79
1.17
1.14
1.20
1.22
1.21
.31
.33
.41
4.94
5.39
5.07
5.15
10.83
12.00
13.28
13.92
5.62
5.94
6.81
7.01
2.24
2.44
2.69
2.74
.44
.50
.61
.64
.52
.59
.59
.70
.39
.46
.89
1.90
.36
.39
.42
.48
5.21
6.06
6.47
6.92
.68
.73
.71
.73
.22
.24
.25
.24
.72
.96
.92
.93
1.49
1.63
1.85
2.03
.74
.98
2.20
2.41
5.27
5.35
5.55
5.36
15.45
16.44
17.87
19.25
7.92
8.58
9.41
10.28
2.95
3.18
3.45
3.59
.72
.83
.87
.96
.89
.94
1.16
1.19
2.11
2.36
2.37
2.70
.62
.63
.90
1.07
7.52
7.86
8.46
8.97
.80
.92
1.22
1.22
.30
.38
.42
.43
1,08
1.10
1.11
1.28
2.17
2.23
2.29
2.44
2.48
2.58
2.78
2.89
5.93
6.14
6.44
7.48
20.12
20.22
20.55
20.90
11.00
11.29
11.46
11.86
,3.76
3.95
4.18
4.68
1.24
1.24
1.31
1.42
1.41
1.34
1.17
1.29
2.86
2.92
2.97
2.76
.91
.94
.87
.75
9.12
8.93
9.09
9.04
1.33
1.28
1.19
1.18
.47
.44
.42
.40
1.30
1.12
1.18
1.11
2.49
2.61
2.88
2.99
2.82
2.68
2.54
2.42
7.83
8.26
9.15
9.83
19.66
20.18
19.57
18.78
11.13
11.20
10.69
10.34
4.64
4.75
4.40
4.24
1.41
1.32
1.31
1.26
1.03
1.14
1.23
1.19
2.57
2.48
2.32
2.29
.61
.55
.47
.43
8.53
8.98
8.88
8.44
1.06
1.07
1.13
1.05
.32
.29
.25
.24
.95
1.15
1.15
1.03
2.80
2.89
2.65
2.27
2.53
2.73
2.83
2.92
10.97
12.32
13.36
13.77
1968: March
June
September
December .
18.58
18.78
19.86
21.38
10.05
10.35
11.03
12.02
4.22
4.07
4.50
4.30
1.22
1.30
1.25
1.27
.86
1.13
1.18
1.27
2.31
2.37
2.56
2.76
.47
.46
.56
1.40
8.53
8.43
8.82
9.36
1.04
1.11
1.06
1.23
.21
.23
.29
.29
1.18
1.21
1.09
1.11
2.24
2.15
2.09
2.44
2.89
2.76
3.33
3.28
14.11
15.05
15.22
16.51
1969: March
June
September..
22.29
23.34
24.15
12.17
12.75
13.38
4.19
4.05
4.24
1.39
1.56
1.95
1.07
1.70
1.74
2.88
2.92
2.83
1.54
1.40
1.45
10.12
10. f.9
10.77
1.22
1.52
1.54
.30
.34
.30
1.17
1.09
1.18
2.58
2.69
3.12
3.78
3.77
3.51
17.33
17.37
19.21
1964: March
June
September
December
__
1965: March
June
September..
December
1966: March
June
September
December
1967: March
June
September
December .
_ _
_
.
1. Includes data not shown separately.
NOTE.—Details may not add to totals because of rounding.
Sources: U.S. Department of Commerce, Office of Business Economics, and the Securities and Exchange Commission.
36
1948 and these classifications were
maintained through 1957; for the 1958
to 1963 estimates, companies were
classified according to their 1958 activity and size and from 1964 forward
according to their 1964 activity and
size.
Industrial classification for the series
is based on the Standard Industrial
Classification Manuals for 1948 and
1957. Estimates were prepared usually
for two-digit groups and in a few
instances for three-digit groups. Each
company is classified in an industry
category according to its primary
activity and all expenditures by the
company are counted as expenditures
in the industry in which the company
is classified.
Adjustment of 1948 estimates
The 1948 estimates for the previous
series were derived primarily from
universe assets data from the Internal
Eevenue Service in conjunction with
assets and expenditure data from the
sample, supplemented by some Census
information. These estimates were reexamined and three types of adjustments were made. For selected manufacturing industries, where single unit
firms were predominant and where the
OBE-SEC samples were weak, estimates of company capital expenditures
were derived by use of establishment
data from the 1947 Census of Manufactures and the 1949 Survey of
Manufactures. The OBE-SEC sample
data were used as interpolators for
1948. The industries were lumber, furniture, fabricated metals, instruments,
apparel, leather, printing-publishing,
and miscellaneous. This procedure resulted in a $250 million reduction in the
1948 estimate. Data from the Annual
Surveys of Manufactures were used to
extrapolate expenditures for these industries through 1966.
Second, an error resulting in an
overstatement of expenditures for motor
vehicles by retail firms was corrected.
Finally, estimates for the construction
and finance industries were completely
reworked, using data from various
sources. This also resulted in a reduction of the 1948 estimate. For the commercial group as a whole—trade,
finance, construction, insurance, and
services—capital expenditures in 1948
were reduced $1 billion.
SUEVEY OF CUEEENT BUSINESS
1958 and 1963 estimates
Complete data on plant and equipment expenditures for benchmarking
the universe estimates from the survey
sample were available only for manufacturing and mining companies in
1958 and 1963. In those years, the
Bureau of the Census collected plant
and equipment expenditure data from
the universe of companies in those
industries. For other industries "quasibenchmark" estimates were constructed
by using the ratio of capital spending
of a sample of firms to some measure—
most frequently gross capital assets
or sales—that was available for the
universe of all firms in an industry.
In some industries—airlines, public
utilities, communications, and railroads—the survey sample includes companies accounting for 90 percent or
more of the industry's total capital
expenditures. Calculation of the 1958
and 1963 "quasi-benchmarks" for these
industries therefore required little inflation of the sample data. At the other
extreme, considerable inflation was necessary for the construction industry.
The methodology and sources used in
preparing the 1958 and 1963 estimates
for individual industries are discussed
below.
Mining and manufacturing. Capital
expenditure data on a company basis
were compiled by the Bureau 01 the
Census for 1958 and 1963 and published
in Table 4A of Part I of the 1958 and
1963 editions of Enterprise Statistics.
These figures are used as the benchmark data for all manufacturing and
mining industries.
The changes between 1958 and 1963
in the company-based data were compared with information from several
sources: the changes in establishmentbased data from the 1958 and 1963
Censuses of Minerals and Manufactures;
the capital asset and depreciation data
from the Internal Eevenue Service and
the Quarterly Financial Eeports of
Manufacturing Corporations published
by the Federal Trade Commission and
Securities and Exchange Commission;
and the data from the OBE-SEC
sample. As a result of this review, an
adjustment was made in the 1958
benchmark for the nonelectrical machinery industry to correct an apparent
undercoverage in that year.
January 1970
Public utilities, communications, nonrail transportation, and insurance. Universe capital expenditures for these
groups (except oil pipelines, which are
classified in the nonrail transportation
group) were estimated from capital
expenditure data reported to the Securities and Exchange Commisssion and to
the Interstate Commerce Commission
(by transportation companies subject
to its jurisdiction). The sample data were
inflated by applying the ratio between
universe corporate gross capital assets
reported by the IES in Statistics oj
Income and gross captial assets of the
sample. When the firms not in the
sample were known to be predominantly
small, the inflation was done separately
for different assets-size classes.
The sample data on expenditures by
airlines were supplemented by data on
leased equipment obtained from annual
10-K Eeports filed with the SEC and
from reports to stockholders.
The public utility and communications industries were considered to be
entirely corporate in structure. For
nonrail passenger and freight transportation, noncorporate capital expenditures were estimated by applying the
ratio between capital expenditures and
operating revenues for small carriers in
the ICC's sample to the IES data on
business receipts of all unincorporated
firms.
Data on expenditures by oil pipeline
companies were taken from annual
reports submitted to the ICC by pipeline companies. To eliminate duplication, companies were excluded if they
were majority-owned subsidiaries of
firms in another industry that report
on a fully consolidated basis; the parent
firms were primarily integrated petroleum refiners.
Railroads. Universe expenditure data
were obtained from the ICC for Class
I and II Eailroads, Lessor Companies,
and certain "Private Car Lines." Expenditures for private cars by companies whose principal line of business
is in another industry, such as chemicals
or petroleum products, are included in
the figures for those industries. Estimates of expenditures by Switching
and Terminal Companies were not
available directly, but were derived
from ICC data on these companies7
property and depreciation accounts.
January 1970
Retail and wholesale trade; services.
The 1958 and 1963 estimates for trade
and for services were based on Census
data. The Censuses of Business provides universe capital expenditures on
an establishment basis for retail trade,
merchant wholesalers, and selected services; data for these groups on a company basis for a few large employee-size
classes, are in Enterprise Statistics
(Volume I, Table 8A). These sources
also provide universe totals of sales and
employment for both establishments
and companies. It may be noted that
the OBE-SEC series covers all wholesalers (merchant wholesalers as well
as other types). The OBE-SEC series
for services covers only business and
personal services; professional services
are excluded. This is identical to the
coverage of the Census.
For each of the three groups, four
separate capital expenditures estimates
were computed—two based on universe
sales and two based on universe employment. The first of the four procedures adjusted the capital expenditures on a company basis by using the
ratio between universe sales on a company basis and to universe sales on an
establishment basis. The second procedure was similar but utilized universe
employment data.
The third and fourth procedures—
again utilizing first sales and then employment as universe measures—involved making separate estimates for
multiunit and single unit companies. The
technique, using sales as an example,
was as follows: Enterprise Statistics provided universe capital expenditure figures for the largest size-classes of multiunit companies, as well as universe sales
for multiunit companies and single unit
companies. The universe estimate of
capital expenditures by single unit
companies was derived by applying the
ratio of capital expenditures to sales
(on an establishment basis) to universe
sales of single unit companies. Expenditure/sales ratios were then computed
for each size group of multiunit companies for which expenditure figures
were published. From the pattern of
these ratios, which tended to decrease
by size, ratios for the missing size
groups were estimated and applied to
the universe sales of those groups to
yield expenditures. Expenditure figures
SURVEY OF CURRENT BUSINESS
for multiunit companies derived in this
manner were then added to those for
single unit companies to yield overall
expenditure estimates.
The results of all these estimation
procedures for the years between 1958
and 1963 were then examined for consistency among themselves and for
consistency with trends shown in other
series such as capital consumption allowances. In most instances, differences
in the various estimates were small. For
retail trade, the estimate derived by
the single unit and multiunit company
procedure using company sales as the
universe measure was accepted as the
final figure. For wholesale trade, estimates based on the inflation of establishment expenditures by universe sales
were used since expenditures data were
available only on an establishment basis
for petroleum bulk stations, assemblers
of farm products and other nonmerchant wholesalers. The same technique
was also accepted for services where the
company expenditure data for the large
size groups appeared to be nonrepresentative of other groups.
Construction. Capital expenditure
estimates for the contract construction
industry are the least reliable. The
sample data are relatively weak and
there is a dearth of comprehensive data
from external sources. The 1958 estimate of universe expenditures was made
by summing separate estimates for
corporate and noncorporate companies.
Capital assets data were available for
companies in the OBE-SEC sample for
1959 but not for 1958. Corporate expenditures for 1959 were derived by
applying the ratios between expenditures and capital assets for companies
in the OBE-SEC sample to corporate
universe data on capital assets from
the IRS. The estimates were calculated
separately for each of five asset classes
since expenditure/asset ratios in this
industry vary markedly for firms of
different sizes. The 1959 estimate was
extrapolated back to 1958 by use of
IRS data on capital assets and depreciation. Capital expenditures by noncorporate firms in 1958 were derived by
applying the ratio of capital expenditures to sales for the smallest size
corporations in the OBE-SEC sample,
to IRS universe sales by noncorporate
companies.
37
The estimate for 1963 for all firms,
corporate and noncorporate, was piepared from IRS data on the cost of
property acquired for investment tax
credit. These data, as published, include
used equipment and exclude all structures as well as equipment with lives of
under 4 years. Estimates for the excluded equipment were calculated from
information in the Treasury Department's Depreciation Guidelines. The
equipment figures were then inflated
to an estimate of total capital expenditures through use of data from companies in the OBE-SEC sample that
report expenditures for equipment separately from expenditures for structures.
Finance. Expenditures data were
available only for companies from the
OBE-SEC sample. Information on
banks was obtained from the Board of
Governors of the Federal Reserve
System and on savings and loan associations from the Federal Deposit
Insurance Corporation. These sources
provided data on capital assets for
companies in the OBE-SEC sample for
the years 1959 and 1963, as well as
universe assets for banks and savings
and loan associations.
For these years, the universe capital
assets were multiplied by the sample's
capital expenditures-assets ratio to
obtain the capital expenditures estimates for all such institutions. To cover
other types of financial firms, a small
further inflation was made using fixed
asset and depreciation data from the
IRS's Statistics of Income.
The estimate for 1958 was extrapolated from the 1959 estimate by use
of 1958 and 1959 net capital assets and
depreciation data.
Estimates for 1947, 1949-57, 1964 and
later
Estimates for years other than the
base years 1948, 1958, and 1963 were
obtained by extrapolation and interpolation. Several different interpolators-extrapolators from various sources
were developed for each industry and
the best was selected for final use. The
"best" was determined for each industry, insofar as possible, on the basis
of the quality of the data used for the
extrapolator and the appropriatiness of
the extrapolator for the industry in
question.
The principal interpolator-extrapola-
38
SURVEY OF CURRENT BUSINESS
tor used was the year-to-year percent facturers and public utilities firms were
change in expenditures reported by retabulated from the start of the series
companies in the OBE-SEC sample. at the end of the fourth quarter 1962.
For the noncorporate sector, where the In manufacturing, the sample was
samples for most industries are inade- stratified by industry by assets-size
quate, the percent change in capital groups. No size stratification was made
expenditures of the smallest size-group for public utilities.
of corporations was gnerally used as an
Because of a significant growth in
interpolator-extrapolator. In many in- the response rate to the new survey,
dustries, the noncorporate sector has particularly in the earlier quarters of
been showing neither growth nor de- the series, and because some respondcline, according to IRS compilations on ents report their carryover data on an
sales by sole proprietorships and part- irregular basis, a technique was adopted
nerships. In these industries, expendi- to obtain improved continuity in the
ture estimates between base years have series while making maximum use of
been moved by straight line inter- all returns in a given survey. The
polation and have been held constant procedure adopted may be summarized
since 1963.
as follows:
The method described above was
(a) The carryover estimate for the
used for mining, manufacturing (except end of the fourth quarter of 1963 was
the industries indicated in the earlier computed by multiplying the ratio of
section on the derivation of the 1948 carryover to capital expenditures for
estimates), public utilities, railroads, all firms in the sample, by universe
nonrail transportation, communica- expenditures as estimated in the revised
tions, trade, and services for the entire series. This estimate was then adopted
period covered by the revision, and for as the base period estimate for the
construction and finance from 1963 entire carryover series.
forward.
(b) A first approximation of the
For corporations in the construction carryover level at the end of the first
industry, the interpolator for use be- quarter of 1964 for each industry was
tween 1948 and 1958 was calculatedcomputed in the same manner as in (a)
from IRS data on the change in net above, namely, by inflating the maxidepreciable assets plus depreciation, mum sample's carryover to the universe.
weighted 0.8, and construction ma(c) A second approximation of the
chinery shipments weighted 0.2; the carryover level at the end of the first
interpolator from 1958 to 1963 was quarter of 1964 for each industry was
calculated from the same two series, computed by extrapolating the previous
weighted 0.3 and 0.2, respectively, and quarter's figure by the quarter-topercent changes from the OBE-SEC quarter percent change in carryover
sample, weighted 0.5. For the noncor- reported by a constant sample of firms.
porate sector in construction, the inter(d) The final carryover estimate for
polator was capital consumption allow- the first quarter of 1964 was constructed
ances by noncorporate firms. For by averaging the first approximation,
finance, Federal Reserve data on the with a weight of 0.2, with the second
change in net depreciable assets plus approximation, with a weight of 0.8.
depreciation were used as the inter(e) Carryover estimates for the 1964
polator-extrapolator for the entire second quarter and for all subsequent
period 1948-1963.
quarters to date were computed in the
same manner as in steps (b) through
Quarterly estimates
For all industries, quarterly estimates (d) above, with the estimate of change
were calculated using quarterly move- for any quarter always applied to the
ments of the OBE-SEC sample data to final or "composite" estimate for the
interpolate the annual levels. All quar- preceding quarter. This procedure was
terly data were seasonally adjusted also used in carrying the series back
using the Bureau of the Census X-ll to the fourth quarter of 1962.
Starts were calculated by adding
procedure.
expenditures for a quarter to the
Carryover and starts
change in carryover during the quarter.
Carryover data reported by manu- Experience in the initial pilot work for
January 1970
the carryover survey indicated that
firms usually report in the carryover
figures any adjustments with respect
to costs, volume, specifications, etc.,
in any projects underway; however,
such adjustments would generally not
be reflected in the direct reports of
starts figures. It was decided that more
accurate data on the total costs of
starts could be achieved through use
of the change in the carryover data
combined with actual expenditures,
rather than through the direct collection
of data on starts.
The data show little seasonal pattern
in carryover, but very substantial
seasonal movements in starts. Therefore, the starts estimates are seasonally
adjusted directly (by the Bureau of the
Census X-ll program). Seasonally adjusted changes in carryover are computed by subtracting seasonally adjusted expenditures from seasonally
adjusted starts. These changes are
added cumulatively to a seasonally
adjusted figure for the level carryover
in the fourth quarter of 1962, to get
quarterly estimates of the seasonally
adjusted level of carryover. The seasonally adjusted level figure for the
fourth quarter of 1962 was obtained
by direct seasonal adjustment of the
carryover data.
Sample design and coverage
The OBE-SEC sample was designed
for complete coverage of all companies
with gross assets of $50 million or
more, and a random selection of
companies with less than $50 million
of assets. The same general sampling
procedures were used in the initial
selection in the mid-1940's, and in
1954, and 1963 when coverage of
the survey was enlarged. Since 1963,
the sample has been supplemented
only by companies newly registered
with the SEC.
There are 10,250 firms in the sample.
The response rate has varied between
70 percent and 75 percent. In 1963, the
responding companies accounted for
59 percent of total capital expenditures
in the United States; the corresponding
percentages were 70 for manufacturing
and 52 for nonmanufacturing.
The survey coverage is highest in
in industries characterized by large
firms—which account for a large share
of total capital spending. The ac-
January 1970
companing table shows the coverage of
the sample in each industry in 1963.
Coverage percentages ranged above 90
in airlines, communications, public
utilities, and railroads, and in motor
vehicle, iron and steel, chemical, and
tobacco manufacturing. Coverage was
below 25 percent in trade, services,
construction, and in furniture, and
apparel manufacturing.
Comparison with national accounts
data
This section discusses the relationship of theOBE-SEC series on plant and
equipment expenditures to related components of the national income and product accounts: nonresidential structures
and producers7 durable equipment.
The OBE-SEC plant and equipment
expenditure series differs from the nonresidential fixed investment component
of GNP in coverage and method of
estimation. The OBE-SEC expenditure series is less comprehensive in that
it does not include the capital expenditures of farm enterprises, professional
persons, nonprofit institutions, and real
estate operators. It also excludes, while
the GNP component includes, oil well
drilling costs charged to current expense, expenditures for passenger cars
for business purposes by salaried workers who receive reimbursement for the
use of their cars, net purchases of used
capital goods from government, and
dealers' margins on the purchase of used
capital. The OBE-SEC expenditures are
not reduced, as is the GNP nonresidential
fixed investment, by receipts from the
sales of used capital to foreigners or to
dealers in scrap materials.
While the OBE-SEC plant and
equipment expenditure series is based
primarily on sample survey results, the
GNP nonresidential investment series
is constructed in a largely indirect
manner from a variety of sources. The
structures component is obtained by
the use of Bureau of the Census construction data plus estimates of oil well
drilling costs, commissions on the transfer of used property, and net purchases
of structures from government. The
Census construction estimates for some
components are derived from company
accounting data, but the most important part of these estimates is based
on a sample of construction projects.
In for
theFRASER
OBE-SEC plant and equipment
Digitized
SURVEY OF CURRENT BUSINESS
survey, the reporting is by the purchaser
for all of his capital expenditures. Thus,
there can be differences between the two
series in timing of reported expenditures, and there is no assurance that
the areas covered by both series are
reported with the same degree of
completeness.
The equipment component of the
GNP series, like the structures component, is derived in an indirect
manner. The principal method used
for most years through 1962 is the
commodity-flow technique. This consists of (1) analyzing Bureau of Census
estimates of total manufacturing shipments to obtain an estimate of the
proportion that consisted of finished
producers' durable goods for private,
domestic use, (2) adding distributive
costs to manufacturers' sales value to
arrive at an estimate of the costs of
Percentage of Total Expenditures for New
Plant and Equipment, Accounted for by
Sample Companies, 1963
Total business
59
Manufacturing..
70
Durable goods..
69
Iron and steel
_
Nonferrous metals
Electrical machinery
Machinery except elec
Motor vehicles
Aircraft
-.
Transportation equipment except
vehicle and aircraft
—
Stone, clay, and glass.
Other durable
Fabricated metal
Lumber
Furniture
Instruments
_
Ordnance and miscellaneousNondurable goods.
motor
96
80
76
59
90
79
60
52
42
50
30
19
61
27
71
Food including beverage.
Textile
Paper
41
57
62
Chemical
Petroleum and coalRubber
92
87
68
Other nondurable
Tobacco
Apparel
Printing and publishing..
Leather
32
92
13
26
40
Nonmanufacturing
52
Mining
31
Railroad.
92
Air transportation—
95
Other transportation..
40
Public utilities..
Electric
Gas
94
96
87
C ommunications -
91
Commercial
16
Wholesale
Retail
Services
Construction
Finance and insurance..
12
20
10
6
30
NOTE.—Based on 1963 Sample Dollar Aggregate and Revised 1963 Universe Estimate.
39
the equipment to the purchasers, and
(3) adding business imports of producers' durable goods. In addition,
for all years, estimates of net purchases of used assets from government
and dealers' margins on sales of used
equipment are added and exports of
used equipment and sales of scrapped
equipment are subtracted. For years
since 1958, the markups for distribution costs have been maintained at
essentially constant percentages. For
the period since 1962, the commodity
flow estimates have been averaged with
an equipment series derived by subtracting the appropriate construction
data from the OBE-SEC plant and
equipment series, plus some further
adjustments, particularly for farm
equipment and motor vehicles.
While it would be desirable to have
only one series on business investment,
both statistical and definitional considerations necessitate maintenance of
two series at this time. The requirements of the gross national product
and input-output accounts are not now
satisfied by the OBE-SEC series for
several reasons. As has been noted, the
latter series differs both in definition
and industry coverage from investment
as measured in the national accounts.
Sufficient information is not available
to quantify investment in the uncovered
industries and the other items that
would be required to adjust the OBESEC series for national accounts
purposes. Instead, the investment
component of the national accounts
must rely heavily on the commodity
flow method, which has been briefly
described. This method also provides
commodity detail that is required for
the national accounts, and is not available from the OBE-SEC series. Furthermore, the commodity flow method
is used to estimate the personal consumption expenditures component of
the GNP, and its use in the estimation
of producers' durable equipment as
well improves the statistical consistency
of the national accounts estimates. The
OBE-SEC series, on the other hand, is
essential as a base for the investment
expectations series and for the series on
the carryover and starts of investment
projects. In addition, the OBE-SEC data
provide estimates of investment by
purchasing industry, information that
is not contained in the national accounts.
SURVEY OF CUEEENT BUSINESS
40
January 1970
FORM APPROVED
BUDGET BUREAU NO. 41-R1761.4
FORM BE-456
IMPORTANT
PLEASE R E T U R N THIS FORM BY J A N U A R Y 31, 1969
STRUCTURES AND
EQUIPMENT EXPENDITURES
SURVEY
r
L
Refer to:
FORM BE- 452
IMPORTANT
Actual
Item
Anticipated
Quarter ending
Quarter ending
March 31, 1969
Dec. 31, 1968
PLANT AND
EQUIPMENT EXPENDITURES
SURVEY
r
1.
2.
L
Form BE-456
FORM APPROVED
BUDGET BUREAU NO. 41-R670.15
Your report is accorded confidential treatment and will not be
used for purposes of taxation, investigation or regulation.
Refer to:
Period covered if
\
From
».
quarter
/
To
».
NEW construction, machinery and
equipment expenditures
USED construction, machinery
Form BE- 45 2
t
(lines 1 plus 2)
t
Item
t
t
S
t
J
t
t
t
Anticipated
Quarter ending
March 31, 1969
Quarter ending
Dec. 31, 1968
Period covered if
I
j
'
2.
Quarter ending
Sept. 30, 1969
Period covered if
1
From—*.
year
/
To
To
e^menrexpend'itre's11111"5' "^
USED construction, machinery
»
Period covered if other )
than calendar year
1
$
t
$
t
$
$
$
•>
4.
NEW construction expenditures
$
t
5.
NEW machinery, fixtures, autos. trucks anJ equipment expend itures
$
J
t
I
7.
USED construction, machinery and equipment expenditures
$
$
t
$
'
1'
S
Actual
Anticipated
Calendar year 1968
Calendar year 1969
SALES
From_~
To
(operations
Remarks
*Title
Person to be addressed regarding this report
4.
NEW construction expenditures
$
S
5.
NEW machinery and equipment expenditures
t
%
s
t
t
t
$
t
J
J
8.
Anticipated
Calendar year 1969
+.
$
7.
Actual
Calendar year 1968
From_
J
"u"" "' °" '" |
]
Quarter ending
June 30, 1969
Quarter ending
Sept. 30, 1969
t
Please read carefully the instructions and explanation of terms on reverse side before recording company's data.
Actual
Quarter ending
June 30, 1969
USED construction, machinery and equipment expenditures
TOTAL E X P E N D I T U R E S (line 6 plus line 7)
INSTRUCTIONS
'•
SALES
Give dollar amounts of net sales of
P roducts an
d services
10. CARRYOVER, December 31, 1968
What was the value of "carryover" on December 31, 1968 (i e.. expenditures
yet to be incurred) on "pro ects" started on or before that d ate?
I
|t
1.
Omit from reported expenditures any work performed on contract for others.
2.
Report data for the calendar quarter or calendar
year. If figures for noncalendar period are reported, please indicate beginning and ending
dates of period covered.
rejects" wh ch were started by the date specified. A "project"
i^rwL'ntmVcra'gef irma^e to It 'capita? aTcou
3.
for used cap.ta, items.
upment
| needed
t aci,ities ?
About adequate
1
[""""1
| Existing plant and equipment
exceeds needs
'
2
'
__
1
1
Report data on a consolidated basis for the com-
p y
4.
1—J
give names of companies involved, date of changes,
and whether such changes have substantially
affected the reported data. Use space for "Re5. When company records are maintained for only
some of the items requested, carefully prepared
estimates or approximations are acceptable for
the others.
^
Do not leave blank
use
company has not spent or does not expect°to
spend anything write "none. ' If desired in form apany accounts write "not ava ilable."
?
D E F I N I T I O N OF TERMS
Expenditures • Expenditures r efer to all cost - both replacement and expansion - whether
ixed asset accounts and for which depreciation or depleti on Icco'unts0^ ordlPerson to be addressed regarding this report
Title
items' purchased abroad for ir stallation or use within the U.S. Include expenditures for equipmen? a".liable*
for lease to others.
Business Use - In case of a motor .ehicle or other purchase for both personal and busin ess use, include only
Expenditures for the reportin g period consist of additions completed during the period plus construction in
progress at the end of the pe riod, minus construction in progress at the beginning of the period. Exclude the
following:
(b) Expenditures for maint enance and repair.
(c) Expenditures for const ruction and equipment installe d or used outside of the Unite d States.
(d) Expenditures by landlo rds and lessors.
Anticipated expenditures should cover all capital expendit ares your company expects t , make in the periods
liketyTo^urcL^VsmalTIs" ell as large (such as office mi chines, automobiles, etc).
b. New Construction -Includes n ew buildings and plants as we 1 as additions, major alterati
nfd"^^^
New Machinery and Equipme it - Includes machinery and equipment for factories, mines , warehouses, stores,
power plants, etc.; automobi es, trucks and other transpor ation equipment; furniture an d fixtures; office machinery, and all other new eq ipment.
d. Sale and Leaseback - If you
0
sale and leaseback arrangem •nt^'and^etains' ownershi^d'urin "onstrucdon "ex
reported under "new" expend
bought by your firm.
Includes
U.S. GOVERNMENT PRINTING OFFICE : 1970 O - 372-943
re equipment) under a
ndltijri s for these should be
CURRENT BUSINESS STATISTICS
JLHE STATISTICS here update series published in the 1967 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $2.50) provides a description of each series, references to sources of earlier figures, and historical data
as follows: For all series, monthly or quarterly, 1963 through 1966 (1956-66 for major quarterly series), annually, 1939-66; for selected series,
monthly or quarterly, 1947-66 (where available). Series added or significantly revised after the 1967 BUSINESS STATISTICS went to press are indicated
by an asterisk (*) and a dagger (f), respectively; certain revisions for 1966 issued too late for inclusion in the 1967 volume appear in the monthly
SURVEY beginning with the September 1967 issue. Also, unless otherwise noted, revised monthly data for periods not shown herein corresponding
to revised annual data are available upon request.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources are provided through
the courtesy of the compilers, and are subject to their copyrights.
1966
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
IV
Annual total
1968
1967
1966
I
I
I
II
III
IV
II
I
1969
III
IV
I
|
11
III | IV P i
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
Gross national product, total f
bil $
Personal consumption expenditures, total
do
Durable goods, total 9
do
Automobiles and parts
do
Furniture and household equipment _ _ _ do.
749 9
466.3
793 5
492 3
865 7
536 6
770 7
474 5
774 2
480 9
783 5
489 8
800 4
495 7
816 1
502 6
835 3
520 6
858 7
530 3
876 4
544 9
892 5
550 7
908 7
924.8
942.8
953.1
562 0
572.8
579.8
589.2
89.8
40.8
35.8
89.6
40.9
35.6
70 8
30 3
29.9
73 0
30 5
31 3
83 3
37.0
34.2
71 9
30 5
30 7
70 0
28 4
30 7
73 5
31 3
31 2
73 3
30 9
31 2
75 2
31 2
32 2
79 5
34 8
33 4
81 8
35 6
33 8
85 8
38 6
35 0
86 3
39 0
34 6
88 4
39 4
35 5
90.6
40.0
36.8
do
do
do
do
206 9
40.3
105 8
16 6
215 1
42 5
108 1
17 7
230 6
46.3
115 0
19 1
209 1
40 9
105 6
17 0
213 2
41 7
107 8
17 3
214 4
42 6
107 6
17 5
215 8
42 9
108 1
17 9
216 8
42 7
108 9
18 1
226 1
45 0
112 6
18 9
228 5
45 6
114 8
18 8
233 3
47 4
116 1
19 5
234 3
47 3
116 4
19 5
238 6
48 1
118 4
20 4
242.1
50.0
119.1
21.0
245.1
50.8
119 9
21 8
249.4
50.6
122.6
22.0
do
do
do
do
188 6
27 1
67.5
13 6
204 2
29 1
71 8
14 7
222 8
31 2
77.4
16 1
193 5
27 9
69 0
14 1
197 7
28 2
70 1
14 4
201 8
29 0
71 1
14 5
206
29
72
14
6
3
3
8
210 6
30 1
73 7
15 0
215 1
30 5
75 2
15 5
220 0
30 7
76 7
15 9
225 8
31 6
77 9
16 3
230 1
31 9
79 8
16 5
235 o
32 7
81 3
17 1
240.1
33.1
82.8
17.3
244 9
33 9
84.4
17 7
250.2
34.2
86.3
17.9
do
121.4
116 0
126 3
126 2
113 6
109 4
117 7
123 3
119 4
126 6
125 2
133 9
135 2
137.4
143.3
142.4
do
do
do
do
do
do
do
do
106 6
81 6
28 5
53.1
25.0
24 5
14.8
15 0
108 6
83 7
27 9
55.7
25 0
24 4
7.4
68
119 0
88 8
29 3
59.5
30 2
29 6
7.3
74
106 3
84 2
28 2
56.0
22 1
21 5
19.9
20 4
104 7
83 3
29 0
54.2
21 4
20 9
9.0
91
106 1
83 0
27 2
55.8
23 1
22 5
3.4
30
109 9
83 5
27 8
55.7
26 5
25 9
7.8
70
113 8
85 0
27 8
57.2
28 8
28 3
9.5
80
117 7
89 1
20 8
59.4
28 6
28 0
1.6
13
116 7
86 4
28 3
58.1
30 3
29 7
9.9
10 3
118 0
88 1
29 0
59.1
29 9
29 4
7.2
75
123 4
91 5
30 1
61.4
31.9
31 4
10.5
10 7
128 6
95 3
32 3
63.0
33 3
32 8
6.6
6.6
130.5
97.8
32 1
65.7
32.7
32.2
6.9
6.7
132 5
101 1
34 7
66.4
31 4
30 9
10.7
10.3
134.5
103.0
34 4
68.6
31.6
31 0
7.8
7.6
do
do
do
5.3
43 4
38 1
5.2
46 2
41 0
2.5
50 6
48 1
4.9
44 8
39 9
5.4
45 8
40 4
5.8
45 9
40.1
5.6
46 3
40 7
3.8
46 7
42 8
1.9
47 7
45 9
3.4
50 7
47 3
3.6
53 4
49 7
1.2
50 6
49 4
1.5
47 6
46.1
1.6
57.1
55.5
2.7
57 8
55.2
2.6
59 1
56.4
Govt. purchases of goods and services, total. .do
Federal
do
National defense
. _. _
do
State and local.
do
156.8
77 g
60 7
79 0
180.1
90 7
72 4
89 3
200.3
99 5
78 0
100 7
165.2
82 1
65 6
83 0
174.2
87 8
69 9
86 4
178.5
90 3
71 9
88.1
181.3
91 3
73 0
90 0
186.4
93 5
74 6
92 9
193.4
96 3
76 1
97 1
198.4
99 0
77 9
99 4
202.5
100 9
78 8
101 7
206.7
101 9
79 3
104 8
210.0
101 6
79 0
108.5
212.9
100 6
78.5
112.3
217.0
103 2
80 3
113.8
218.9
102 7
79 2
116 2
By major type of product: f
Final sales, total
_
Goods, total , _ _
Durable goods
Nondurable goods
Services
Structures
_
do
do
do
do
do
do
735 1
368 5
146 2
222 3
289 1
77 5
786 2
391 0
157 0
234 1
316 7
78 4
858 4
423 7
171 4
250 3
347 5
87 1
750 8
377 2
151 8
75 3
765 2
382 5
151 9
230 7
306 4
76 3
780 2
392 5
158.3
234 2
312 0
75 6
792 6
393 3
157 7
235 5
320 1
79 3
806 6
395 8
160 0
235 9
328 4
82 4
833 6
412 8
166 4
246 5
335 0
85 8
848 8
419 3
168 9
250 4
343 4
86 0
869 2
429 9
173 7
256 1
353 2
86 1
882 0
433 0
176 6
256 4
358 5
90 6
902 1
441 3
181 6
259 7
365 8
94 9
917 9
449 6
185.5
264 1
373 4
94 8
932 0
455 2
187 8
267 4
381 6
95 3
945
461
189
271
389
95
do
do
do
14.8
10 5
4 3
7.4
39
35
7.3
53
20
19.9
13 2
67
9.0
4.2
4 7
3.4
1.5
18
7.8
4.4
34
9.5
56
39
1.6
1_ 90
9.9
68
31
7.2
51
21
10.5
7.4
31
6.6
48
18
6.9
4.9
21
10.7
76
31
Nondurable goods, total?
Clothing and shoes
Food and beverages
Gasoline and oil
_
-
Services total 9
Household operation
Housing
Transportation
_ _
Gross private domestic investment, total
Fixed investment
_
Nonresidential
Structures
Producers' durable equipment
Residential structures
Nonfarm
Change in business inventories
Nonfarm
__
Net exports of goods and services
Exports
._
. . ._
Imports
__
. . .
Change in business inventories
Durable goods
Nondurable goods
_
225 4
298 4
3
2
7
5
0
1
7.8
7 4
4
GNP in constant (1958) dollars
Gross national product, total f
bil. $._
658.1
674.6
707.6
668.1
666.5
670.5
678.0
683.5
693.3
705.8
712.8
718.5
723.1
726.7
730.6
730.5
418.1
430 3
452 6
420 7
424.4
430.5
431.9
434.3
445 6
449.0
458.2
457.6
462 9
466.2
466 5
468 5
do
do
do
71.7
187 0
159 4
72.8
190 3
167 2
80 7
196 9
175 0
72 3
187 0
161 5
70.3
190 2
163 9
73.9
190 6
166 1
73.0
190 3
168 6
73.9
190 2
170 3
77.7
196 0
171 8
79.5
195 8
173 7
83.0
198 7
176 5
82.7
197 2
177.7
84.3
199 3
179 3
85.9
199 3
181 0
84 7
199 3
182 5
84 1
200 2
184 1
Personal consumption expenditures, total., .do
Durable goods
Nondurable goods
Services
.
Gross private domestic investment, total
do
109.3
100. 8
105.7
112.5
100.5
95.7
101.6
105.4
101.2
106.6
104.1
110.9
109.9
110.8
114.3
112.6
Fixed investment..
Nonresidential
Residential structures
Change in business inventories
do
do
do
do
95 4
74 1
21.3
13.9
93 9
73 6
20 3
6.9
99 1
75 8
23 3
6.6
94 0
75 4
18 6
18.5
92 0
74 1
17.9
8.5
92 6
73 5
19.0
3.1
94 3
73 1
21.2
7.4
96 7
73 8
23.0
8.7
99 8
77 1
22 7
1.5
97 6
74 0
23.5
9.0
97 7
75 0
22.7
6.4
101 4
77 3
24.1
9.6
104 0
79 4
24.6
5.9
104 8
81 0
23 8
6.0
105 0
82 4
22 6
9.3
106 0
83 2
22 8
6.7
Net exports of goods and services
do
4.2
3.6
.9
3.3
4.0
4.2
4.1
2.0
.9
1.3
1.7
-.2
-.3
-.5
.4
.3
137.6
126.5
140.0
148.4
131.6
65 4
72 8
74 8
68 6
78 9
65.2
69.5
63.0
64.8
61.1
r Revised.
v Preliminary.
1 Preliminary annual totals for 1969 for components shown
in this column appear on pp. 7-10 of this issue of the SURVEY.
f Revised series. Estimates
of national income and product and personal income have been revised back to 1965 (see
140.1
75 1
65.0
140.4
75 5
64.9
141.7
75 7
66.0
145.6
77 3
68.3
148.9
79 Q
69.3
148.8
79 2
69.6
150.2
79 4
70.8
150.6
78 3
72.3
150.2
76 3
73.9
149.4
149.0
Govt. purchases of goods and services, total.. do
Federal...
_
do
State and local
do
372-943 O - 70 - 4
7K c
73 Q
7A A.
74. 7
p. 13 ff. of the July 1969 SURVEY); revisions prior to May 1968 for personal income appear
on p. 26 ff. of the July 1969 SURVEY.
9 Includes data not shown separately.
s-1
January 1970
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
|
1967 | 196S
I
Annual total
II
1969
1968
1967
III
IV
I
II
I
751.3
765.7
780.6
546.0
558.2
571.9
516.9 <• 524. 8
410.2 0 416. 5
"19.9
20.1
86.6 "88.5
55.0
" 56. 1
67.3 °66.7
50.5 «50.4
16.8 '16.3
21.7
"21.8
IV
III
1970
II
III
IV*
I
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income, totalf
bil $
Compensation of employees, total
Wages and salaries, ,total
Private
Military
Government civilian _
Supplements to wages and salaries
Proprietors' income, total 9
Business and professional 9
Farm
_
Rental income of persons
do
do
do
do
do
_do
do
do
do
do
620.6
435.5
654.0
467.4
714.4
513.6
639.3
456.2
658.5
646.2
470.7
461.1
672.0
688.8
481.7
495.1
707.4
507.0
737.3
724.1
532.3
519.8
« 580. 9
394.5
316.8
14.6
63.1
41.0
61.3
45.2
16.1
20.0
423.5
337.3
16.2
70.0
43.9
61.9
47.2
14.7
20.8
465.0
369.0
18.0
78.0
48.6
63.8
49.2
14.6
21.2
413.2
330.2
15.8
67.2
43.0
60.8
46.5
14.3
20.6
417.7
333.0
15.9
68.8
43.4
61.7
47.1
14.7
20.8
426.5
339.6
16.1
70.8
44.2
62.6
47.8
14.8
20.9
436.5
346.3
17.0
73.2
45.1
62.3
47.5
14.9
21.0
448.2
355.9
17.3
75.0
47.0
63.2
48.4
14.8
21.1
459.0
364.5
17.6
76.8
48.0
63.6
49.2
14.3
21.2
470.7
372.7
18.7
79.3
49.1
64.1
49.3
14.8
21.2
482.1
382.8
18.3
80.9
50.2
64.1
49.7
14.4
21.4
493.3
392.5
18.2
82.5
52.7
64.6
49.7
14.9
21.5
504.3
402.0
18.4
84.0
53.8
66.5
50.1
16.4
21.6
82.4
79.2
87.9
78.3
78.3
79.1
81.1
82.5
88.2
90.6
90.3
89.5
89.2
88.8
9.7
72.7
42.6
18.6
24.0
10.5
68.8
39.0
18.1
20.9
11.5
76.4
44.4
19.9
24.5
10.2
68.1
39.2
18.2
21.0
10.3
68.0
38.8
17.9
20.8
10.5
68.6
38.3
18.0
20.4
10.8
70.3
39.5
18.3
21.2
11.0
71.6
41.1
19.1
22.0
11.2
76.9
44.9
19.8
25.1
12.1
78.5
45.4
20.4
25.0
11.9
78.5
46.2
20.4
25.8
12.3
77.2
45.1
20.3
24.7
12.7
76.5
44.9
21.0
23.9
13.3
75.6
43.8
20.0
23.8
11.9
18.2
10.8
19.0
11.6
20.4
10.9
18.0
10.7
18.5
10.8
19.5
10.9
19.9
11.3
19.1
11.5
20.6
12.0
21.0
11.6
20.7
11.8
20.3
11.7
19.9
11.9
19.9
84.2
Corporate profits before tax total
do
Corporate profits tax liability
do
34.3
Corporate profits after tax
do
49.9
Dividends .
do
20.8
Undistributed profits
do
29.1
Inventory valuation adjustment
_.do
-1.8
Net interest do
21.4
DISPOSITION OF PERSONAL INCOME f
Quarterly Data Seasonally Adjusted at Annual Rates
587.2
Personal income, total
bil. $._
75.4
Less: Personal tax and nontax payments
do__.I
511.9
Equals: Disposable personal income
do
479.3
Less: Personal outlays©
do
Equals: Personal saving§
do
32.5
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals :t
All industries
. .
bil. $
'63.51
Manufacturing
do
28.20
Durable goods industries 1
do
14.06
Nondurable goods industries ^
do
14.14
80.3
33.0
47.3
21.5
25.9
-1.1
24.7
91.1
41.3
49.8
23.1
26.7
-3.2
28.0
78.4
32.3
46.1
21.1
24.9
-.1
23.5
79.1
32.6
46.4
21.7
24.8
-.7
24.3
79.5
32.5
47.0
22.0
25.0
—.4
25.1
84.4
34.5
49.9
21.1
28.8
-3.3
25.9
87.9
39.9
47.9
22.2
25.7
-5.3
26.7
90.7
41.1
49.7
22.9
26.7
-2.6
27.5
91.5
41.4
50.0
23.6
26.5
-.9
28.4
94.5
42.9
51.6
23.8
27.8
-4.2
29.3
95.5
'43.9
'51.7
23.8
'27.9
-6.1
29.8
95.4
'44.1
'51.3
24.3
'27.0
-6.2
30.3
92.5
'42.8
'49.7
24.9
'24.9
-3.7
30.9
629.4
82.9
546.5
506.2
40.4
687.9
97.9
590.0
551.6
38.4
615.2
80.8
534.4
494.5
40.0
622.2
80.6
541.6
503.9
37.7
634.5
84.1
550.3
509.7
40.7
645.9
86.1
559.8
516.6
43.1
664.3
89.3
575.0
535.1
39.9
680.1
92.7
587.4
545.1
42.3
696.1
102.6
593.4
560.2
33.2
711.2
107.0
604.3
566.2
38.0
724.4
114.2
610.2
577.7
32.5
740. 5
118.5
622.0
588.8
33.3
756.5 «766.9
117.5 » 119. 8
639.0 «0 647. 1
605. 5
596.0
43.1 °41.6
' 65. 47
28.51
14.06
14.45
' 67. 76
28.37
14.12
14.25
16. 20
6.88
3.40
3.48
' 18. 12
7.77
3.96
3.81
36.96
1.65
1.86
2.29
1.48
8.74
6.75
2.00
6.34
14.59
39.40
1.63
1.45
2.56
1.59
10.20
7.66
2.54
6.83
15.14
9.32
.44
.41
.56
.41
2.35
1.71
.64
1.57
3.59
10.35
.47
.50
.64
.38
2.59
2.08
.51
1.73
4.04
Corporate profits and inventory valuation adjustment, total __
bil $
By broad industry groups:
Financial institutions
do
Nonfinancial corporations total
do
Manufacturing, total
do
Nondurable goods industries
do
Durable goods industries
do
Transportation, communication, and public
utilitiesbil $
All other industries
do
Nonmanufacturing .
Mining
Railroad .
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication
Commercial and other
Seas. adj. qtrly. totals at annual rates:}
All industries
Manufacturing
Durable goods industries i
Nondurable goods industries if
do
do
do
do
do
do
do
do
do
do
35.32
1.62
2.37
1.74
1.64
7.43
5.38
2.05
6.02
14.48
do
do
do
do
' 14. 46 ' 16. 69 '
6.54
7.33
3.14
3.56
3.40
3.77
7.93
.36
.50
.37
.31
1.63
1.31
.32
1.45
3.32
9.36
.39
.45
.72
.38
2.18
1.65
.53
1.60
3.65
' 65. 23 '65.60
29.78
29.16
14.46
14.26
15.32
14.90
r
15. 10
6.15
3.06
3.09
8.95
.42
.39
.68
.30
2.07
1.69
.38
1.59
3.50
' 65. 48 ' 65. 66 '68.09
28.02
27.51
27.85
13.92
14.11
13.71
13.80
13.91
13.93
' 16. 85 ' 16. 79 '
7.13
6.99
3.36
3.54
3.63
3.59
9.86
.43
.37
.58
.42
2.62
1.94
.68
1.62
3.81
9.66
.39
.31
.64
.41
2.61
1.87
.74
1.61
3.69
"66.29 ' 67. 77
28.86
27.84
13.51
14.47
14.40
14.33
19. 03 '16.04
8.10
6.58
4.16
3.36
3.94
3.22
10.93
.40
.38
.66
.47
2.90
2.16
.74
2.00
4.13
' 69. 05
28.70
14.39
14.31
9.45
.42
.38
.68
.38
2.36
1.88
.48
1.81
3.41
'18.81 ' 19. 25
7.82
8.16
4.03
3.98
4.12
3.84
10.99
.48
.44
.66
.46
2.99
2.22
.77
2.00
3.97
' 72. 52 ' 73. 94 ' 77. 84
33.05
31.16
29.99
16.53
15.98
15.47
16.52
14.52
15.18
36.45
1.52
1.78
2.43
1.38
8.51
6.48
2.04
6.30
14.53
37.62
1.76
1.72
2.35
1.66
8.86
6.86
1.99
6.49
14.80
38.15
1.78
1.82
2.79
1.41
9.46
7.47
1.99
6.37
14.54
40.07
1.80
1.68
2.88
1.43
10.08
7.76
2.32
6.83
15.37
38.45
1.66
1.49
1.98
1.49
10.24
7.64
2.60
6.42
15.17
38.91
1.57
1.29
2.69
1.65
9.82
7.50
2.32
6.67
15.22
40.35
1.52
1.34
2.87
1.75
10.63
7.74
2.89
7.34
14.91
42.53
1.83
1.68
2.89
1.87
11.52
8.62
2.90
7.74
15.00
42.78
1.88
1.76
2.22
1.66
11.68
8.71
2.97
7.92
15.67
44.80
1.89
2.06
2.23
1.65
11.48
8.98
2.50
8.71
16.78
11,461
7,688
333
1,612
1,828
11,484
7,723
335
1,580
1,846
11, 577
7,669
239
1,801
1,868
11, 667
7,601
332
1,879
1,855
11,934
7,941
305
1,771
1,917
12,668
8,395
353
1,973
1,947
13, 344
8,879
406
2,040
2,019
12,653
8,383
364
1,917
1,989
11,913
7,469
418
2,120
1,906
14,245
9,588
334
2,151
2,172
14, 548
9,560
v 421
2,357
2,210
Imports of good sand services
do
-38, 082 -41,012 -48,077 -10,100 -10,033
Merchandise adjusted excl military
do
-25,463 -26,821 -32,972 -6, 660 -6, 465
Military expenditures
do
-3, 764 -4, 378 -4,530 -1,085 -1,075
Income on foreign investments in the U.S do
-584
-591
-2, 142 -2,362 -2,932
Other services .
do " -6, 713 -7,451 -7,643 -1,771 -1,902
Unilateral transfers, net (excl. military grants);
transfers to foreigners (— )
mil. $.. -2,833 -2, 998 -2,865
-691
-823
•; Revised.
p Preliminary.
1 Preliminary exp(inditures 'or the yesir 1969 ar eas folio ws
(bil. $): All industries, 75.30; manufacturing, total, 31 74; durab e goods in dustries 15.99; n 311durable goods industries, 15.74; norimanufacturing, to tal, 43.56; mining, 1 87; railro ad, 1.83; air
transportation, 2.50; other transportation, 1.70; public utilities , 11.56; electric, 8 86; gas a nd
other,
2.70; communication, 8.31; commercial and oth er, 15.79.
a
See note 1 on p. S-l.
f See corresponding note on p. S-l
9 Includes inventory valuation adjustment.
-10,173
-6,542
-1,106
-580
-1,945
-10,706
-7,154
-1,112
-607
-1,833
do
do
do
do
do
do
do
do
do
do
BALANCE OF INTERNATIONAL
PAYMENTSd"
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
military grants)
mil. $ .
Merchandise, adjusted, excl. military..
do
Transfers under military sales contracts
do
Income on U.S. investments abroad
do
Other services .
do
0)
11.10
.47
.49
.53
.40
3.03
2.23
.80
2.11
4.07
35.46
1.54
2.12
1.57
1.47
7.98
6.01
1.98
6.19
14.57
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication
Commercial and other
«25.2
--6.4
"31.6
U.S.
43, 361
29,389
829
6,252
6,891
46, 189
30,681
1,239
6,872
7,397
50, 599
33, 598
1,428
7,701
7,872
-11,463 -11,827 -12,435 -12,352 -11,550 -13,942
-7,817
8 131 -8, 566 -8,458 -7,572 -9,591
-1,102 -1,116 -1, 143 -1,169 -1,204 -1,208
-892 -1,086
-749
-742
-770
-671
-1,873 -1,838 -1,956 -1,976 -1,882 -2,057
-13,812
-9,232
-1,198
-1,248
-2, 134
-793 v -712
-601
-774
-690
-766
-648
-635
-836
JRe^rised seri es; explailation of revisions and ami ualand <quarterly data ba 2k to 1947 appea
©Persoilal outla ys compr ise perso nal consumptior
on pp. 25ff.oft tiis issue <)ftheSui IVEY.
expenclitures, i nterest jlaid by consume rs, and persona] transfer paymer its to foreigners
§Personal sa\'ing is ex cess of di sposable income c>ver pers onal outl ays.
HDa ta for in(iividual durable and non< lurable g oods ind ustries componerits appear in th<
Mar., JFune, Sep>t., and I)ec. issue s of the £SURVEY.
cfM ore completedetai Is are giv en in the quarterl]7 reviews in the M ar., Jun<j, Sept., and Dec
issues of the StrRVEY. B.evised d ata back to 1960 appear o a p. 29 ff . of the J une 1969 issue.
January 1970
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
I
Annual total
II
III
IV
I
II
1970
1969
1968
1967
1968
1967
S-3
III
IV
I
IV
III
II
I
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
U.S. BALANCE OF INTERNATIONAL
PAYMENTS §— Con.
Quarterly Data Are Seasonally Adjusted
Transactions in U.S. private assets, net; increase
(— )
mil $ -4,311
Transactions in U.S. Govt. assets, excl. official
reserve assets; increase (— )
mil. $._ -1,535
Transactions in U.S. official reserve assets, net;
increase ( — )
mil $
568
Transactions in foreign assets in the U.S., net (U.S.
liabilities); increase (+)
mil. $__ 3,323
Liquid assets
do
789
Other assets
do
2,534
Errors and omissions net
do
-490
Balance on liquidity basis—increase in U.S. official
reserve assets and decrease in liquid liabilities to
all foreigners* decrease (•— )
mil $
-1,357
Balance on official reserve transactions basis—increase in U.S official reserve assets and decrease in
liquid and certain nonliquid liabilities to foreign
official agencies; decrease (-)
mil. $_.
266
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
-5,654 -5,158 -1,068 -1,014 -1,775 -1, 797
-806 -1, 537 -1,868
-947
-2,419 -2, 250
-346
-654
-542
-546
-677
-738
-639
-527
-419
-375
-181
904
-137
-571 -1,076
2,198
1,406
792
-69
-1,341 -2,002 v- 1,333
-463
-48
-648
p-647
-299
* -686
52
-880
1,027
6,853
3,492
3,361
-1,007
9,277
712
8,565
-641
335
-532
867
-308
1,970
749
1,221
-624
2,350
1,869
481
-6
1,215
-340
1,555
-410
2,645
128
2,517
-480
2,515
710
1,805
309
2,902
214
2,688
-60
4, 525 *3,532
3,351
4,170 *3,241
1,718
p291
1,633
355
-1,260 -1,088 p-891
-3,544
168
-495
-330 -1,031 -1,688
-564
9
-139
862
-1,670 -3, 871 *-2, 555
-3,418
1,638
-1, 711
-917
-379
1,553
97
367
-1,144
-71
Nov.
1,236 » -918
1969
1968
1968
Annual
-719
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
' 767. 4
Dec."
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCE t
Seasonally adjusted, at annual rates: t
Total personal income
bil. $
Wage and salary disbursements, total
do
Commodity-producing industries, total.do
Manufacturing
do
Distributive industries
__do
Service industries
Government _
Other labor income
Proprietors' income:
Business and professional
Farm
_
_
769.7
629 4
687.9
711.5
716.0
718.7
723.9
730.7
735.3
740.0
746.1
751.4
757.5
760.7
763.7
423 5
166.5
134 2
100.3
465.0
181.5
145 9
109.2
482.2
187.5
150 5
113.5
485.8
189.6
151 8
113.3
489.3
190.1
152 4
114.6
492.6
190.6
152.5
115.6
497.9
193.8
154.9
116.4
500.8
195.2
155.8
117.2
503.8
196.2
156.3
118.3
508.5
198.3
157.8
119.5
512.8
198.9
158.5
120.1
517.9
201.0
160.5
121.4
519.9
201.5
160.7
121.8
522.2 r 525. 1
201.8 ' 201. 7
160.6 ' 159. 8
122.3 ' 123. 5
527.2
202.8
160.5
123.7
90.3 '91. 5
107.8 ' 108. 4
26.8
26.9
91.8
108.9
27.1
. do
do
do
86 2
22 1
70 5
78.3
96.0
24.2
82.0
99.1
25.0
83.0
99.9
25.1
84.5
100.1
25.3
85.6
100.8
25.5
86.3
101.4
25.6
86.4
101.9
25.8
87.0
102.3
25.9
87.8
102.9
26.1
88.0
105.9
26.3
88.8
106.8
26.4
89.4
107.2
26.6
do
do
47.2
14 7
49.2
14.6
49.7
14.3
49.8
14.4
49.5
14.5
49.8
14.9
49.7
15.3
49.8
15.8
50.1
16.4
50.4
16.9
50.5
16.8
50.5
16.8
50.5
16.8
50.6
16.7
'50.4
••16.3
50.3
15.9
20.8
21 5
48 3
52 0
21.2
23.1
54.1
59.2
21.4
24.0
56.7
61.5
21.4
23.6
57.3
62.1
21.4
23.6
57.4
63.0
21.5
23.8
57.6
63.5
21.5
24.1
57.9
64.3
21.5
24.2
58.3
64.7
21.6
24.3
58 8
64.9
21.6
24.5
59.2
65.2
21.7
24.6
59.5
65.7
21.7
24.8
59.8
66.1
21.7
25.1
60.2
66.4
21.8
25.3
60.6
66.7
21.8
25.4
61.1
'67.2
21.9
25.0
61,6
67.7
_.
Rental income of persons
do
Dividends
_
do
Personal interest income
. _ _ do
Transfer pavments
do
Less personal contributions for social insurance
bil. $..
Total nonagricultural Income
do
20.6
22.6
23.2
23.4
25.3
25.3
25.6
25.7
25.8
26.1
26.4
26.6
26.7
26.9
'26.9
27.1
609.7
667.9
691.5
695.9
698.5
703.1
709.5
713.5
717.7
723.4
728.8
734.9
738.1
741.3
' 745. 1
747.7
45, 772
47, 848
4,920
4,280
3,829
3,097
3,285
3,211
3,287
3,395
4,215
5,222
5,772
5,967
3,062
883
2,179
518
1,295
332
3,060
822
2,238
524
1,356
318
3,251
818
2,433
552
1,523
318
3,385
1,070
2,315
533
1,440
315
3,800
1,417
2,383
518
1,453
392
3,890
1,543
2,347
502
1 446
381
4,482
1,904
2,578
500
1,667
393
5,617
2,782
2,835
FARM INCOME AND MARKETINGS t
Cash receipts from farming, including Government
payments, total J
mil. $
Farm marketings and CCC loans, total
do..
Crops
_
do
Livestock and products, total 9
_ do
Dairy products...
do
Meat animals _
do
Poultry and eggs
__ __ _ .do
Indexes of cash receipts from marketings and CCC
loans, unadjusted: t
All commodities
1957-59=100
Crops
do
Livestock and products
_ _ __do
[ndexes of volume of farm marketings, unadjusted: t
All commodities
1957-59=100..
Crops
_. _
do
Livestock and products
do
42, 693
18, 401
24,292
5,743
14 534
3,645
44,386
18, 847
25, 539
5,962
15,406
3,827
4,883
2,712
2,171
479
1,316
360
4,247
2,154
2,093
501
1,212
352
3,771
1.565
2,206
343
2,970
951
2,019
462
1 219
297
132
133
131
137
136
138
181
235
141
157
187
136
140
136
143
110
82
131
113
76
141
113
71
145
120
71
158
125
93
150
141
123
154
144
134
152
166
165
167
123
124
123
126
130
124
170
229
126
150
191
119
129
139
122
95
75
110
94
61
118
92
53
121
95
52
127
104
84
119
123
126
122
125
130
121
142
155
133
166.5
170.5
173.1
171.9
172.4
176.7
167.7
174.6
r 179. 2
167.3
169.7
164.3
127.9
174 3
173.6
175 0
132.3
514
1,309
513
5,353
4,633
' 5, 146
' 2, 733 2,176
2,457
' 2, 413
496
1,881
511
1,471
1,474
427
441
208
241
184
191
237
156
172
189
159
185
235
148
'171
'235
'124
153
194
121
' 178. 0 ' 173. 3
169.0
421
INDUSTRIAL PRODUCTION tf
Federal Reserve Index of Quantity Output
158.1
' 165. 5 ' 169. 3 ' 166. 4
159 7
163.7
154.6
123.8
184 9
' 166. 9 '171.6 r 167. 6
174. 2 T 172. 4
169.8
r
' 163. 3 ' 168. 5
161. 5
'r 126. 6 r 127. 0 ' 126. 6
202. 5
167.0
171.4
161.4
124.1
172 1
175.3
168.0
124.2
175 1
178.6
170.8
125.4
173 7
177.7
168.6
130.2
174 4
178.3
169.5
132.9
178.5
182.2
173.9
134.6
158 3
148.5
159.0
145.1
179.4
' 165. 1
' 156. 9 r
175.0
' 151. 2
182.6 '
166.6
158.9
183.9
150.9
183.1
169 3
161 8
186 0
154.1
185.4
171 9
163 9
189 1
156.0
189.0
168.6
159.0
183.0
151.4
189.1
168.4
158.2
182.1
150.5
190.4
174.0
165.5
191.1
157.3
192.4
166.4
156.5
155.7
156.8
187.7
173 4
166 3
160 4
168.2
188.5
179.2 r
172.6 '
r
186. 9 r
r
168. 0
' 193. 4 '
T i(j5 g
Materials
do
157 8
167 1
166 4
169 5
Durable goods materials
do
151 9
157 0
157 8
159 6
158 0
Nondurable materials
do
M 74. 1
163.9
170.fi
176.4
176.2
' Revised.
v Preliminary.
§ See note marked "c?" on p. S-2.
t See corresponding
note on p. S-l. t Series revised beginning 1960 (Alaska and Hawaii are included in dollar
figures beginning 1960 and in the indexes from 1966 only): available monthly data prior to
May 1968 may be obtained from the U.S. Dept. of Agriculture, Economic Research Service.
171 5
162 8
180.fi
174 3
165 9
174 8
166 4
183. 4
176 1
167 4
185.0
179 2
171 6
187.0
168 8
160 5
177.3
175 6
166 2
185. 3
r 179 2
r 179 4
r 170 2
r IRQ g
r 18<K4
CJnadj., total index (incl. utilities) cf_. 1957-59 =100
By industry groupings:
Manufacturing, total
do
Durable manufactures
do ....
Nondurable manufactures
do
Mining
do
Utilities
do
By market groupings:
Final products, total
.
Consumer goods
... _
Automotive and home goods
Apparel and staples
Equipment, including defense
do
do
. .do
do
do
169.2
161.7
191.4
152. 3
185. 2
r
165.6
155. 9
181.5
147.7
186.4
r
r
r
179.7
180. 0
181. 5 r 181. 5
'
177. 6
178. 1
' 132. 9 T 132. 7
'
'
'
'
174 7
175. 5
173. 7
132. 3
176. 4
169 3
169. 3 ' 161 4
192. 1 ' 175 7
162. 1
191. 7 ' 186. 3
168.9
172.0
164.9
132. 6
165 6
155 9
168
186. 4
' 177 0 172 9
r IfitJ 0
162
' 188." 3 184
d* Revisions for 1966 appear on p. 20 of the Nov. 1967 SURVEY; those for Jan.-Aug. 1967 and
Jan.-Oct. 1968 will be shown later.
$ Includes data for items not shown separately.
182.8
t 188.5
January 1970
SURVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
1969
1968
Annual
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
173.1
Dec."
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PROD UCTIONd*— Continued
Federal Reserve Index of Quantity Output— Con.
Seas, adj., total index (incl. utilities) tf. 1957-59 = 100.
By industry groupings:
Manufacturing, total
..
.do
Durable manufactures 9
-do
Primary metals
.
do
Iron and steel
do
Nonferrous metals and products
do
Fabricated metal products . __ _ .do
Structural metal parts
do
158.1
' 165. 5 ' 167. 8
168.7
169.1
170.1
171.4
171.7
172.5
173.7
174.6
174.3
' 171. 4
170.9
159.7
f 166. 9 ' 169. 2 ' 170. 1
170.2
171.8
173.1
173.0
173.8
174.8
175.6
175.4
' 175. 2 ' 174. 1 '171.9
171.2
163.7
132.5
126.8
153.2
161.9
158.1
169.8
' 137. 0
' 130. 7
' 160. 0
167.9
162.2
172.1
134.8
123.9
180.6
175.4
170.3
173.0
139.5
126.8
179.6
176.4
170.1
174.5
143.6
133.7
183.4
177.6
174.5
175.9
146.2
139.0
186.9
178.5
175.8
175.7
147.9
141.2
186.2
178.3
174.4
176.7
149.3
141.6
184.3
179.2
173.1
178.3
153.1
145.6
190.8
180.6
173.8
178.7
152.4
145.3
181.8
179.1
170.8
178.8
151.3
141.1
177.9
180.6
171.5
'T 178. 7 ' 177. 3 ' 172 5 171 3
150.4
149. 3
151.1
151
' 141. 4 141 5 ' 143 8 143
' 178. 6 r 178.5 r 179.7
179. 2
179.1
179. 5
180
171.5 ' 172. 5 ' 174. 4 178
188.5
185.3
192 7
176 4
172.3
177.0
191.8
188.3
196.4
171.2
167.3
170.9
192.7
189.6
196.9
173.1
167.7
174.1
194.7
190.2
200.7
174.1
167.6
176.0
194.6
190.8
199.5
172.4
160.8
178.7
196.9
193.1
201.8
171.8
156.8
180.8
197.2
195.3
199 6
176.6
169.1
179.5
198.1
196.0
200.8
181. 1
174.2
183.4
199.4
195.5
204.5
179.1
174.1
180.3
' 201. 2
' 199. 8
' 202. 9
178.8
' 170. 5
182.6
' 171. 0
r 127. 9
r
115. 7
173.8
' 173. 7
168.3
r
173.9
Machinery
_
Nonelectrical machinery
Electrical machinery
Transportation equipment 9
Motor vehicles and parts _ _
Aircraft and other equipment
do_ _
do_ __
do
do
do
do..-.
183.4
183.4
183.3
165. 7
146.5
182.1
Instruments and related products _
Clay, glass, and stone products...
Lumber and products
Furniture and fixtures
Miscellaneous manufactures
do
do
do
do
do.
184.8
138.7
116.9
167.7
157.3
184.2
188.5
189.7
146.2 ' 150. 3
151.2
' 122. 3 ' 123. 7 132.3
178.3
181.7
182.9
161.4 '164.9 '163.7
191.6
156.2
122.5
186.8
166.2
190.4
156.5
126.7
186.5
164.7
192.8
153.4
130 8
187.0
165.7
195.4
155.1
122.6
188.9
167.6
195.3
156.9
120.7
190.2
167.5
195.7
155.2
115.5
189.9
168.1
194.7
152.7
113 4
185 0
167.4
194.9
155.3
114.1
186.5
165.8
195.4 ' 193. 9 '
' 157. 7 '156.2
'111.0 r 113. 8
185.3 ' 184. 0 '
165.3 ' 165. 3 '
do
do
do
do
do
154.6
142 0
147.6
106.3
153.6
'163.3 r 167. 1
' 151. 5 ' 154. 5
149.9
152.5
' 111.0 111.7
r
163.8
167. 9
' 167. 5
'153. 6
' 149. 5
' 108.9
' 172. 5
166.7
152.9
148.1
105.0
171.1
168.3
152.0
147.9
101.3
173.9
169.5
152 9
150 2
105.6
175.0
169.6
154.2
147.8
103.4
175.8
170.3
156.5
150.0
107.6
174.9
170.5
157.8
149.2
104.7
175.3
171.8
157.0
150.7
98.4
176.4
171.3
153.0
148.8
100.0
177.5
'r 170. 9 'r 170. 1 ' 171. 1
152. 3
151.9
151 6
r
146. 1
145.8
101.0
97.7
178.0
' 177. 5 ' 178. 0
Printing and publishing
Newspapers,
Chemicals and products
Industrial chemicals
Petroleum products
do
do. ..
do
do
do
146.8
134.2
203.8
236.0
133 4
' 149. 6
136.1
' 221. 7
' 262. 0
139.6
152.3
152.3
139.5
140.8
' 230. 5 ' 230. 3
' 271. 6 ' 272. 0
141.2
141.4
152.4
141.2
231.3
273 .4
131.0
152.1
141.7
234.4
276.7
140.2
153.0
141.4
235.2
277.7
142.7
152.7
137.5
239.1
283.3
142.2
155.9
142.8
239.5
285.2
143.5
156.5
141.3
239.7
286.1
145.4
158.3
145.6
243.1
288. 6
143.5
158.2
144.4
238.1
281.5
144.5
' 157. 3 '156.9
143.0
143.3
r
240 2 ' 240. 5
r
285.0
286. 2
146 2 ' 146. 7
Rubber and plastics products
Foods and beverages
Food manufactures
Beverages
Tobacco products.
do.
do
do
do
do.
193.5
132. 6
130 1
146.0
120.3
' 222. 0
' 136. 4
132.7
' 156. 5
120.9
' 239. 1 ' 235. 3
' 136. 2 ' 139. 1
' 132. 7 134.6
'154.7 '163.5
119.9
113.6
230.8
139.4
136.1
157.4
119.5
232.8
140.9
137.2
160.9
121.2
236.2
141.5
136.7
167.2
118.7
234.2
140.5
136.7
160.6
110.5
237.0
138.6
136.6
149.4
115.4
237.3
138.3
136.1
149.8
121.9
238.3
139.9
135.8
161.7
120.3
239.9
143.1
137.8
171.3
114.8
240.0
142.2
137 0
169 9
118.6
239.6
' 138. 0 140.7
' 132 6 137.2
166.7
113.8
do _
do_.
do
do
do
do ._
123.8
120.4
123.1
126.3
120 3
135.4
'r 126. 6 ' 126. 6 ' 127. 8
118. 2
115.9 ' 118. 4
' 126. 8 ' 126. 6 ' 125. 9
130.5
126.4
128.6
r
126. 4 ' 135. 2 r 137. 4
137.8
135.5
147.0
125.8
115.3
123.9
124.0
140.2
143.5
124.8
112.4
121.8
124.0
142 7
149.2
126.7
114.3
123.5
127.0
149.1
150.5
128.8
120.2
126.9
130.2
146.6
141.4
130.3
123.9
129.6
133.1
134.5
141.2
134.4
124.8
134.8
139.2
137.4
142.6
133.2
130.0
132.1
135.5
138.1
142.2
131.2
122.1
130.2
132.4
142 3
142.8
' 131. 6
114.7
' 133. 1
' 135. 6
133.1
144.3
' 130. 2 ' 132. 0
115.7 ' 118. 9
' 130. 7
130.5
' 132. 8 '133.0
' 141. 1
152 3
' 139. 6
145.9
133.9
do
do
do
184.9
191 8
163 0
r 202. 5 ' 207. 2 'r 210. 6
r 211. 5 ' 216. 3 220. 6
174.1
178.4
179.4
215.1
226.1
214.9
225 5
215.1
225.7
216.3
226.9
213.6
223.1
215.6
225.9
222.2
234.2
222.6
234 4
222.5 ' 224. 4 ' 224. 9
234.1
225.5
do
do
_.do
158.3
148.5
159.0
' 165. 1 ' 167. 6
T
167. 9
' 160. 2
' 179. 4
168.2
161.0
181.0
169.3
161.7
179.6
170.8
162.8
181.8
170.2
161.8
177.9
170.0
160.7
177.6
170.7
161.5
183.0
172.8
164.4
184.5
172.7
164.2
182.4
' 172. 2 ' 170. 7
' 162. 8 '160.8
' 179. 3 ' 176. 8
177.8
174.5
' 179. 8
182.2
182.1
' 178. 6 ' 180. 4
' 171. 8 ' 172. 0
177.0
180.2
176.2
170.6
183.5
184.3
177.7
184.3
174.7
165.0
187.6
183.0
179.1
181.2
175.4
165.0
189.0
186.3
182.9
182.0
166.1
149.6
187.9
186.1
182.0
183.3
165.8
148.9
188.0
185.9
182. 0
183.4
178.7
168.3
192.3
186.1
180.2
184.0
184.6
178.7
192.4
184.4
181.8
180.0
179.5
178.4
181.0
184.5
181.9
179.7
176.6
169.9
' 185. 4
' 181. 2
' 176. 5
' 177. 9
154.1
138 9
158. 5
134 7
154.7
140.8
158.6
134.8
156.0
141.4
160.2
136.7
156.8
142.9
160.8
136.4
156.6
140 6
161.2
137 1
155.3
141.5
159.2
136.4
154.7
137.4
159.6
136.1
158.1
140.9
162.9
135.3
158.4 ' 157. 6 155.8
135.9
138.0 ' 135. 9
164. 1 '163.7 ' 161. 4 '163.3
136.2
137.9 ' 132. 3
138 8
146
201
147
189
7
4
1
7
144.6
203 7
146.3
190 0
147.5
203 7
145.7
192 0
150.9
205.0
143.3
193.6
143.7
209 9
145 9
194 1
137.9
208.0
147.3
189.8
140.4
206.1
146.3
192.7
147.8
211.9
147.5
201.6
152.3
207 2
147.6
201 1
148.9
152.6
' 208. 6 ' 210. 4
149.8 ' 147. 1
201.6
198.6
'r 185. 5 '184.5
190 3 r 189 3
174 9
r 174 2
205 3
208 7
r 244 9 r 242 2
r 13Q 6
134 0
183.5
191.4
175 9
209 9
245.5
136 1
185.5
191.9
175 7
214.3
244.4
133 0
187.8
192.9
176 7
217.3
242.3
135 6
188.4
194 1
178 6
220 1
239 7
133 9
190.0
195.7
180.9
221.7
238.4
134.9
190.4
197.0
182.7
221.0
240.8
135.2
190.8
196.9
181.2
220.5
250.5
124.4
190.3
197.0
180 3
221 3
249.7
136 0
192.4 ' 191. 8 '185.9
' 200. 4 '200.8 '194.6
175.0
183 9 ' 182. 9
222.0
222.9 ' 224. 9
r
'254.4
251. 9
254.1
r
151.0
146 8
T 168 1
r 158 6
169 6
187 7
148 3
r 168 8
r 158 9
169.6
161.2
162.2
187.4
153 5
170.8
162.6
167.7
189.3
154 2
172.1
164.0
163 2
190.7
154 5
172 9
165 8
157 9
190 3
153 2
174.5
165.5
156.6
191.7
153.0
176.3
167.0
162.7
193.2
151.7
176.5
167.0
163.0
193.2
150.0
175.9 ' 176. 0
167.3 ' 166. 6
171.7
169 5
197.2
195. 1
149 9 r 149 g
177 9
r 179 o
T 164 i
178.3
164 2
167 4
162 6
179.2
164 4
168.1
162.5
180 3
165 3
170 4
162 7
180.3
162 3
165 0
160 9
183.7
165.9
168.2
164.7
185.9
166.3
167.5
165.7
186.4
167.1
165. 5
167.9
184.7
167 4
166 7
167 8
' 185. 5
167 0
167 8
166.6
144.3
152 0 r 152 8 r 159 5
151.8
129.2
133.0 ' 131. 7 ' 130. 5 127.8
183.3
200.2 '20R.2 ' 207. 7 211.5
d^See corresponding note on p. S-3.
152.3
127.7
212.5
153.7
130.2
211.7
156.9
134.2
213.7
159.3
137.4
214.9
162.8
141.8
216.1
161.6
139.7
216.7
159.4
136.5
217.3
159.8 '160.4
' 137. 7 ' 135. 7
222.8
221.1
Nondurable manufactures
Textile mill products
Apparel products
Leather an<J products
Paper and products . _
_
Mlning
Coal..
..
_
Crude oil and natural gas
Crude oil
Metal mining ^
Stone and earth minerals. _. ._
Utilities .
Electric
Gas
By market groupings:
Final products, total c?
Consumer goods..
Automotive and home goods..
Automotive products
Autos
_
Auto parts and allied products
Home goods 9
Appliances, TV, and radios
Furniture and rugs
Apparel and staples
Apparel, incl knit goods and shoes
Consumer staples
Processed foods
Beverages and tobacco
Drugs, soap, and toiletries
Newspapers, magazines, books
Consumer fuel and lighting
Equipment, including defense 9
Business equipment
Industrial equipment
Commercial equipment
Freight and passenger equipment
Farm equipment
Materials d*
Durable goods materials 9
Consumer durable
Equipment
Construction
Non durable materials 9
Business supplies
Containers
General business supplies
Business fuel and power 9 _
Mineral fuels..
Nonresidential utilities
'Revised.
* Preliminary.
_.
_
184.3
187.4
181.0 '184.5
188.5 r 191 3
179.5 'r 180. 0
171.4
177. 4
185.0
179.6
r 156.
175.0
174.3
174.8
173.8
175.4
168. 4
173.7
do
do _
do
do
do
do
149.1
145.7
153 6
166.0
159.6
159 6
do
do
do
do
145 1
136 2
147 6
130 0
r
do
do
do
do
137 4
182 7
140 1
168 9
' 144. 5
do
do
do
do
do
do
179,4
182 8
170 2
200 9
215 4
158 7
182.6
184 7
T 168 2
205 2
234 3
r 145 o
do
do
do
do
do
157 8 T
151 9 i
143 9
184 5
139 6 T
165 s
157 8
164 9
185 1
145 9
do
do
do
do
163 9
152 9
148 5
155 1
174 1
157 6
156 6
158 1
do._
do.__.
.do
159.2
179.5
9
r
r 180. 8
151. 2 r
139.5
' 154. 5
132.6 '
r
193 4
143.3
183 4
r
152.8
142. 1 r
155.8 r
131 9
' 143 0 r
200 4
146 0
186 1 T
r 161 1
r 159 6
r 161 Q
161 0
187 5
T 150 6
r 167 1
r 162 6
9 Includes data for items not shown separately.
' 198. 9
'200.2
' 197. 2
' 175. 7
' 167. 9
' 179. 6
' 172. 8
164.0
' 184. 4
' 179. 5
'174.9
' 176. 0
' 188. 2
195. 8
' 178 1
' 168. 2
159.8
' 171. 9
196
177
164
152
171
194. 9
156.6
194
156
183. 9
166. 4
183
165
T
159.0
145.1
240.7
171.1
157
148.7
119
131
135
168.0
159.6
167.6
167.6
159.1
164
167.5
153.8
185.6
167.7
144.3
176.2
161
142
164
212.5
148.8
' 175. 9 ' 174. 6
' 165. 8
163.1
' 166. 4
158.3
190.3
'194.8
' 149. 7
149.9
'
'
'
'
188
186. 3 '186.5
168. 5 169.1
172. 8
172.2
167.5
166. 4
160.4
' 136. 1
185.8
195
174.0
162
187
161
137
SURVEY OF CURRENT BUSINESS
January 1970
1968
1967
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1969
1968
Nov.
Annual
S-5
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug
Oct.
Sept.
Nov.
Dec.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS SALES AND INVENTORIES §
Mfg. and trade sales (unadj ) totaled1
Mfg. and trade sales (seas, adj.), totals
Manufacturing , totaled
Durable goods in dustries
Nondurable goods industries
mil $
il ogy 539 11 162 985 101 513 103 200
93 265
102 367 103 419
105 368 107 145
99 535
102 861 107 212 '110963 105, 907
do
!1,067 539 U 162 985 100 142 98 671
100 137 101 390 101 510 102 352
103232 104 127
104,201
104,644
105,903 •106,812 106, 190
do
do
do
*548 542 1603 718
299 680 330 951
248 862 272 767
Retail trade, total d" ...
.
Durable goods stores
Nondurable goods stores
do
do
do
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
do
do
do
*313 809
100 173
213 636
95 674
52 548
28 786
23 762
51 494
27 742
23 752
52 801
29 325
23 476
53 302
29 914
23 388
53 078
29 530
23 548
53 298
29 643
23 655
53 741
29 573
24 168
54 786
30 136
24 650
55 392
30 605
24 787
55 239
30 868
24 371
56,434 r 56 904 56,297
31, 742 '31 794 31,008
24 692 r 25 HO 25 289
339 324 28 806
110 24*) 9 014
°229 079 19 49^
28 347
9 238
19 109
28 989
9 446
19 543
29 289
9 597
19 692
28 916
9 377
19 539
29 442
9 575
19 867
29386
9 481
19*905
29 371
9 545
19 826
29 090
9 141
19 949
29 346
9 161
20 185
29,259 '29 620
9 384 r 9 354
19, 875 r 20 266
29 548
9 251
20 297
10 700
18 830
8 734
10 096
18 347
8 555
9 792
18 799
8 938
9 861
19 516
9 071
10 445
19 612
9 132
10 480
20 105
9 307
10798
19 970
9 263
10 707
19 719
9* 114
10 605
20 059
9 178
10 881
20 210 r 20 288
9,304 r 9 359
10,906 r 10' 929
20 345
9 387
10 958
10
1
205 188 1219 943
90, 447 100 012
114, 741 119 930
8 764
10 024
Mfg. and trade inventories, book value, end of year
or month (unadj.), total d*©- ..
mil. $
142, 120
152 072
153 863 152 072 153 246
155,475 157,745 159 365 ' 160 104 159 762 159,719
Mfg. and trade inventories, book value, end of year
or month (seas, adj.) , total d*© ,
mil. $
143, 694
153 764
i "»9 83ft 153 764
154 086
155 339 156,401 157 477 158 602 159 264 160631 161,659 162733 ••164,250 164,941
07 QA>7
88
57
31
42
19
23
22
13
9
905
879
026
740
622
118
441
373
068
89 556
58 282
31 274
43 014
19 487
23 527
22 769
13 532
9 235
90 317
58 978
31 339
43 004
19 542
23,462
23,080
13 681
9 399
91 oig
59* 426
31 592
43 118
19 567
23 551
1 54
1 53
1.54
1 54
1 54
1 68
1 68
1 95
1.70
2 00
1 71
2 00
1 71
2 04
Manufacturing, totald*
Durable goods industries
Nondurable goods industries
Retail trade, total ^
Durable goods stores
Nondurable goods stores .. _
Merchant wholesalers, total©
.
Durable goods establishments
Nondurable goods establishments
Inventory-sales ratios:
Manufacturing and trade, totalrf1--
do
do
do
do
do
do
do
do
do
ratio
Manufacturing, totalcf
do
Durable goods industries
do
Materials and supplies
do
Work in process
do
Finished goods
do
Nondurable goods industries
do
Materials and supplies.
do
Work in process
do
Finished goods, .
do
Retail trade, totalcf
do
Durable goods stores
do
Nondurable goods stores.. ._
do
Merchant wholesalers, total© .
do
Durable goods establishments
do
Nondurable goods establishments
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:
Durable goods industries:
Unadjusted, total..
mil. $
Seasonally adj., total*.
do
82
53
29
39
17
21
21
12
9
819
540
279
318
403
915
557
543
014
1 58
1 77
2 08
62
94
52
1 40
55
21
64
1 47
2 03
1 21
1.21
1.61
88
57
31
42
19
23
22
13
9
579
422
157
657
461
196
528
454
074
42 488
19 361
23* 127
22, 395
13 332
9 063
1 53
1.53
1 56
1 70
2 01
1.67
1 98
1 72
2 07
59
92
50
1 33
Kf» QKO
58
91
49
1 30
50
20
62
48
20
62
1 44
2 00
1 18
1.20
1 54
1 47
2 08
1 19
1.19
1 52
.90
91
.90
12,853
14 944
1,399
1,378
88
57
31
42
19
23
22
13
9
579
422
157
657
461
196
528
454
074
I Q7
w
91
CA
60
95
52
1 °.9
1 31
49
20
62
49
21
62
1 50
2 11
1 21
1 20
1 54
1 47
2 08
1 18
1 22
1 56
1 34
49
21
63
1 47
2 03
1 19
1.21
1 51
.58
.92
.50
1.33
.49
.21
.63
1.49
2.08
1.20
1,18
1.51
93
94
.90
1 134
1 204
1 256
1 299
90
1 396
1 265
56
90
49
23 341
13 860
9 481
92 139
60 222
31 917
43 025
19 044
23 981
23 438
13 897
9 541
58
94
52
57
93
51
1 32
1 34
49
21
63
1 46
2 04
1 19
1 19
1 59
49
21
63
1 46
2 01
1 20
1 17
1 49
159,772 161,368 r!64 196 165 975
94 211 r 94, 916
62,036 r 62,631
32 175 '32285
44 806 45 378
20 079 20 564
24,727 24, 814
23, 716 r 23,956
14 182 r H365
9 534 r 9 591
93 166
61 441
31 725
43 874
19 358
24 516
23 591
14 089
9 502
93 728
61, 724
32 004
44 322
19 756
24,566
23,609
14 220
9 389
1 53
1 54
1.54
1.54
1 68
2 01
1 68
2 01
1.70
2 00
1 67
1 95
92 215
60 479
31 736
43 438
19 365
24 073
23 611
14 004
9 607
57
93
51
1 29
56
94
51
1 28
47
20
61
47
20
61
1*48
2 03
1 21
1.18
1 51
1 51
2 12
1.23
1.20
1.55
.55
.94
51
1 31
.48
.20
62
1.51
2.16
1.22
1.18
1.55
90
88
90
.90
.86
1,452
1,353
1 449
1*430
1 446
1 396
1 435
1 392
1 378
1,530
1,295
1,424
r
1.54
1 55
1 67
1 97
1 69
2 04
r 54
54
92
50
93
1 30
r 50
r 1 29
48
20
62
r 20
r 60
48
1 53
2.14
1.24
1.17
1 52
1 53
r 2 20
1 22
r 1 18
r 1 53
r 88
.87
95,365
63,114
32 251
45 537
20 602
24 935
24 039
14 412
9 627
55
96
52
1 28
47
20
60
1 54
2 23
1 23
1 18
1 54
88
'1,653
1,637
1,497
1,482
57 991 r 58383
56 127
1,465
1,486
r
do
548 542
603 718
52 495
KA -IQ7
An AM
53 933
55,254
54 693
KA A(\(\
57 484
50 501
53 401
Durable goods industries total 9
Stone, clay, and glass products
Primary metals . _
Blast furnaces, steel mills ...
Fabricated metal products
Machinery, except electrical
Electrical machinery.
Transportation equipment
Motor vehicles and parts
Instruments and related products
do
do
do
do
do
do
do
do
do
do
299 680
14 479
45 867
22 846
31 443
52 066
41 443
74 863
43 096
9 500
330 951
15* 754
50 457
24 901
34 180
58 047
42*353
84 163
47 638
11* 370
28 831
1 325
4 051
1,698
2 852
4 968
3,692
7,932
4 665
1,043
97 «Ki
97 °.°.1
31,054
1,387
4,884
2,305
2 994
5,720
3,867
7,814
4 446
1 101
on eel
on OQI
967
30 287
1 295
4 741
2 153
3 009
5 513
3 728
7*741
4 393
1 056
1 438
4 893
2 305
3 109
5 559
3 686
7 654
4 281
1 068
4 883
2 275
3 031
5 420
3 674
7 652
4 223
1 085
32 317
1*532
4 991
2*312
3*318
5 918
4*076
7 954
4 615
1 217
27 225
1 407
4 360
2 101
2 876
4*856
3 536
6 224
3 093
1 023
28 745 32 188 ' 32 361 30 934
1 531 1 592 '1 604 1*452
4*946 ' 5,024
4 851
4 584
2 200
2 262 ' 2, 316
2 148
'3
371
3 136
3
249
3 135
5 315
5 700 '5,469
5 095
3,891
3 739
4 098 ••4,064
8,138
8,101 ••8,440
6 302
4 439
4 625 ••4 973
2 955
1 204
1 287 r 1, 176
1 166
Nondurable goods industries, total 9
Food and kindred products
Tobacco products
Textile mill products
Paper and allied products
'
Chemicals and allied products..
Petroleum and coal products
Rubber and plastics products
do
do
do
do
do
do
do
do
248
83
4
19
21
42
21
12
272 767
90 157
4 922
21*458
24 208
46 465
22 267
14 265
23,664
7 997
22 546
7*732
22 121
7 327
23 646
7*644
24,200
7 825
24 039
7 662
24 015
7 831
1 752
2 219
3 995
1 949
1 341
1 830
2 259
4 106
1 930
1 387
230
251
054
°Afi
23 276
7 809
*437
1 507
2 157
3 825
2 046
1 266
24 656
8 159
1 626
2 070
3 749
1 855
1 227
25 167
8 278
'462
1 854
2 343
4 274
2 155
1 485
Shipments (seas, adj.), totald*
By industry group:
Durable goods industries, total 9
Stone, clay, and glass products. .
Primary metals
Blast furnaces, steel mills
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment.
Motor vehicles and parts
Instruments and related products
do
52 548
51 494
52 go!
53 302
53 078
53 741
54 786
55 392
55 239
56 434 ' 56,904
. do
do
do
do
do
do
do
do
do
do
28, 786
1,334
4,180
1,807
2 896
5 185
3,586
7,568
4 238
1,028
27 742
1 352
4 152
1 894
2 793
5 009
3 511
6 845
3 722
*984
29 325
1 414
4*508
2 089
2 961
5*222
3 620
7 284
4 117
1 089
29 914 29 530
1 441
1*454
4 578
4 585
2 115
2 096
2 940
3 031
5 352
5 319
3 725
3 685
7 463
7 273
4 042
4 212
1 083
1 078
29 643
1 422
4 571
2 096
5 276
3 737
7 346
3 997
1 084
29 573
1 402
4 643
2 119
2 968
5 248
3*764
7 275
3 910
1 103
30 136
1 381
4 728
2 212
3 094
5*422
3*943
7 244
4 073
1 158
30 605
1 388
4 777
2 238
3 088
5 261
3 930
7 916
4 484
1 101
30 868
1,414
4 739
2 176
3 036
5 504
3 863
8 120
4 665
1,182
31 742
1,478
5 016
2 329
3 135
5*769
3 873
8,248
4 781
1,212
do
do
do
do
do
do
do
do
23, 762
8,003
23 752
7 930
23 476
7 669
23 388
7 624
23 548
7 778
23 655
7 755
24 168
7 869
24 787
8 114
24 371
8 156
1 784
2 186
3 892
1 971
1.327
1 758
2 226
3 913
1 988
1.333
1 751
2 241
4 063
2 067
1.335
24 650
8 085
*422
1 771
2 259
4 095
2 103
1.403
1 789
2 333
4 H8
2* 030
1.395
4' loo
24, 692 ' 25,110 25,289
8 643
8 259 ' 8, 416
442
'423
436
1 761 ' 1 841 1 763
2,290
2 263 '2,285
4,239
4 120 ' 4, 178
2 138 '2 065 2 165
1,453
1,424 '1,542
Shipments (not seas, adj.) total d*
Nondurable eoods industries, total 9
Food and kindred products.
Tobacco products.
Textile mill products ..
Paper and allied products..
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
862
017
768
241
120
347
211
597
420
1 215
3 910
1*707
2 685
5 113
3 593
7 302
3 935
1 041
414
1 863 1 702
2 077
2 020
3,923
3 634
1 910
1 912
1 239 1 240
418
1 788
2,089
4,139
1 919
1,279
420
1
1QQ
4 329
1 QQ7
2 657
4 745
3 362
7 1Q2
4 236
376
414
1 804
1 790
2 109
2 172
4 065
3 935
1 Q25
1 894
1.286
1.301
' Revised.
i Based on data not seasonally adjusted.
2 Advance estimate; total mfrs.
shipments for Nov. 1969 do not reflect revisions for selected components.
§ The term "business here includes only manufacturing and trade; business inventories as shown on p.
b-l cover data for all types of producers, both farm and nonfarm. Unadjusted data for manufacturing
are shown below and on p. S-6; those for wholesale and retail trade on pp. S-ll
and b-J2. d" Series revised to reflect benchmarking manufacturing data to 1961-66 annual
http://fraser.stlouisfed.org/
surveys of manufactures, and to reflect revision of the retail sales sample. Complete details
Federal Reserve Bank of St. Louis
399
415
1 740
2 201
3 980
1 949
1.328
404
411
414
1 7<ifi
2 256
4 254
1 971
1 413
CO OQQ
q nfM
421
1 ARf\
1
2
4
2
1
439
717
439
425
25 803 '26,022 25,193
8 633
8 708 ' 8, 677
'414
438
454
1 837
1 884 r i 990
1 852
2 338 '2 350 2 277
2 264
4,025
4 268 '4,230
4 040
2 155 '2 082 2 153
2 088
1 311 1 423 ' 1 594 1 409
453
432
1 785
2 234
2 071
1. 352
56 297
' 31,794 31,008
1,461
' 1, 491
'5,144
5 015
'2,422
2,340
'3 286 3 180
' 5, 572
5 575
3,782
'3,900
7 821
' 8, 185
4 043
' 4, 559
1,187
' 1, 133
for manufacturing appear in the Census report Manufacturers' Shipments, Inventories, and
Orders: 1961-68—Series M3-1.1. See note marked "J" for p. S-ll regarding new retail sales
sample. Revised unadj. data for mfg. and trade sales back to 1961, and unadj. and seas. adj.
inventories back to 1961 appear on p. 22 ft. of the Nov. 1968 SURVEY; seas. adj. mfg. and trade
sales and retail sales for 1961-67 and inventory-sales ratios for 1961-67 appear on p. 51 ft. of the
May 1969 SURVEY.
IfRevised series; see corresponding note on p. S-12.
*New series.
9 Includes data for items not shown separately.
© See corresponding note 011 p. S-ll.
°See corresponding note on p. S-ll.
SURVEY OF CURRENT BUSINESS
S-6
1967
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1968
Annual
January 1970
1968
Nov.
1969
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
4,646 ••4,667
10,562 T 10, 876
9,303 ' 9, 352
5,422 '5,243
4,520 '4,614
21, 981 '22,152
Nov. Dec.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERScf— Continued
Shipments (seas, adj.)— Continued
By market category:
Home goods and apparel
mil. $.Consumer staples
do
Equipment and defense prod., excl. auto.do ...
Automotive equipment
do
Construction materials and supplies
do
Other materials and supplies
do
Supplementary market categories :
Consumer durables
do
Defense products (old series)
do
Defense products*
do
Machinery and equipment
do
1
51, 206 i 55, 126
1106,412
1
115, 551
U2,916
1215,090
i 48, 587
234, 291
84, 149 i 96, 115
1
48, 769 i 54, 048
4,407
10, 257
8,609
4,821
4,221
20, 233
4,569
10,228
8,182
4,275
4,218
20,022
4,849
9,945
8,764
4,642
4,444
20, 157
4,715
9,841
8,828
4,764
4,637
20, 517
4,703
9,927
8,738
4,572
4,517
20,621
4,738
9,981
8,886
4,531
4,531
20,631
4,820
10,116
8,889
4,476
4,494
20,946
5,066
10, 322
8,864
4,650
4,452
21, 432
5,017
10,508
8,960
5,102
4,404
21,401
4,646
10, 477
9,177
5,298
4,399
21,242
123,461
i 24, 031
163,709
i 23, 917
i 68, 757
1,927
4,078
2,042
6,140
2,033
3,830
2,080
5,959
2,153
3,971
1,875
6,102
2,165
4,009
1,851
6,263
2,126
4,001
1,875
6,212
2,159
4,128
2,035
6,160
2,128
4,117
1,971
6,219
2,250
4,029
1,989
6,316
2,280
4,182
2,077
6,198
2,141
4,143
2,141
6,457
do
do
do
82, 561
53, 217
29,344
88, 239
57,034
31,205
87,382
56, 497
30,885
88,239
57,034
31,205
89, 179
57, 789
31, 390
90, 158
58,568
31, 590
90,885
59,293
31, 592
91, 779
59, 973
31,806
92,808
60,805
32,003
92,509
60,863
31, 646
92,682
61,113
31,569
93,262
61,541
31, 721
Book value (seasonally adjusted), totaled do
By industry group:
Durable goods industries total 9
do
Stone clay, and glass products
do
Primary metals
do
Blast furnaces steel mills
do
Fabricated metal products
do
^Machinery except electrical
do
Electrical machinery
do
Transportation equipment
do
^Motor vehicles and parts
do
Instruments and related products. .do
By stage of fabrication:^
Materials and supplies 9
do
Primary metals
do
Machinery (elec. and nonelec.)...do
Transportation equipment
do
Work in process 9
do
Primary metals
do
Machinery (elec. and nonelec.)...do
Transportation equipment
do
Finished goods 9
do
Primary metals
do
^Machinery (elec and nonelec ) do
Transportation equipment
do
82, 819
88, 579
87,947
88,579
88,905
89, 556
90,317
91, 018
92,139
92. 215
93,166
53,540
2,013
57, 422
2,219
7,552
4,039
6,287
11,310
8,560
13, 939
4,257
2,183
56, 953
2,153
7,504
4,010
6,229
11,222
8,528
13,844
4,221
2.122
57,422
2,219
7,552
4,039
6,287
11,310
8,560
13,939
4,257
2,183
57, 879
2,289
7,528
4,019
6,289
11,528
8,551
14, 076
4,308
2,240
58,282
2,372
7,554
4,042
6.129
11, 738
8,592
14, 186
4,226
2,275
58,978
2,361
7,627
4,074
6,220
11,837
8,735
14,350
4,289
2,319
59, 426
2,391
7,682
4,121
6,267
11,946
8,762
14, 482
4,263
2,345
60,222
2,390
7,764
4,200
6,305
12,149
8,957
14,689
4,216
2,339
60, 479
2,431
7,798
4,194
6,358
12,294
8,913
14, 714
4,175
2.387
61,441
2,463
7,800
4,185
6,407
12,542
9,044
15,154
4,306
2,407
15, 592
2,815
4,785
2,968
24, 675
2,671
9,021
8,527
13,273
2,158
5,256
1,184
16,637
2,787
4,821
3,402
26, 357
2,547
9,472
9,162
14, 428
2,218
5,577
1,375
16, 676
2,783
4,830
3,366
26,085
2,536
9,391
9,139
14, 192
2,185
5,529
1,339
16, 637
2,787
4,821
3,402
26,357
2,547
9,472
9,162
14, 428
2,218
5,577
1,375
16, 706
2,800
4,862
3,348
26, 631
2,506
9,611
9,289
14, 542
2,222
5,606
1,439
16, 613
2,765
4,935
3,301
26, 961
2,535
9,769
9,436
14,708
2,254
5,626
1,449
16,980
2,824
5,003
3,388
27,264
2,573
9,879
9,561
14,734
2,230
5,690
1,401
16, 935
2,814
5,024
3,348
27,463
2,609
9,948
9,657
15,028
2,259
5,736
1,477
17,055
2,843
5,117
3,332
27,872
2,612
10,102
9,854
15,295
2,309
5,887
1,503
17,045
2,806
5,143
3,291
28, 072
2,674
10, 134
9,927
15, 362
2,318
5,930
1,496
29,279
7,094
2,269
3,232
2,190
5,600
1,971
1,601
31, 157
7,370
2,261
3,539
2,384
5,937
2,118
1,801
30, 994
7,417
2,231
3,425
2,351
5,882
2,136
1,833
31, 157
7,370
2,261
3,539
2,384
5,937
2,118
1,801
31, 026
7,264
2,219
3,507
2,403
5,977
2,068
1,811
31,274
7,248
2,203
3,534
2,419
6,088
2,076
1,831
31,339
7,215
2,226
3,548
2,420
6,177
2,069
1,799
31, 592
7,293
2,203
3,581
2,439
6,255
2,061
1,811
31,917
7,416
2,209
3,565
2,458
6,336
2,077
1,837
11,247
4,496
13, 536
11, 598
4,855
14,704
11,512
4,752
14. 730
11,598
4,855
14,704
11,497
4,991
14,538
11,554
5,014
14,706
11,519
4,943
14,877
11, 672
4,970
14,950
8,589
11,297
20,955
4,640
6,445
30,893
9,469
11, 786
22, 191
5,199
7,410
32, 524
9,460
11, 758
22, 018
5,134
7,236
32, 341
9,469
11, 786
22, 191
5,199
7,410
32, 524
9,360
11, 696
22, 475
5,281
7,538
32,555
9,490
11,807
22, 753
5,235
7,540
32, 731
9,667
11,830
22,970
5,332
7,640
32, 878
4,333
10, 307
4,727
11, 458
7,251
13, 881
4,645
11,513
7,126
14,038
4,579
11,571
7,227
14, 308
4,717
11,675
7,324
14, 494
Inventories, end of year or month:
Book value (unadjusted) total cf
Durable goods industries, total
Nondurable goods industries total
Nondurable goods industries, total 9 -.do
Food and kindred products
do
Tobacco products
do
Textile mill products
do
Paper and allied products
do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber and plastics products
do
By stage of fabrication:
Materials and supplies
do
Work in process
do
Finished goods
do
By market category:
Home goods and apparel
do
Consumer staples. __
do
Equip, and defense prod., excl. auto....do
Automotive equipment _ _ _ _.
do
Construction materials and supplies
do
Other materials and supplies
do
Supplementary market categories:
Consumer durables
do ..
Defense products (old series) . _
do
Defense products*..
..do
Machinery and equipment
do
139, 279 i 46, 201
1,952
7,644
4,319
5,465
10, 905
8,157
12,679
3,827
2,145
4,068
2,062
6,806
4,335
11, 124
9,454
4,669
4,613
22, 102
' 2, 150
'4,314
'2,015
'6,432
1,961
4,423
2,088
6,432
93, 415 '94,118
61,643 '62,173
31, 772 '31,945
94,698
62,606
32,092
93,728
94,211 '94,916
95, 365
61, 724
2,453
7,907
4,234
6,371
12,606
9,086
15,177
4,237
2,412
62, 036
2,458
7,937
4,255
6,434
12, 697
9,203
15, 129
3,944
2,416
'62,631 63,114
' 2, 449
2,473
'7,925
7,983
'4,234
4,247
'6,478
6,553
'12,909 13, 112
'9,307
9,312
'15,358 15, 402
'4,024
4,047
2,420
' 2, 427
17,159
2,760
5,140
3,444
28,714
2,687
10,355
10,232
15,568
2,353
6,091
1,478
17,011
2,800
5,169
3,206
28,977
2,720
10, 405
10, 441
15, 736
2,387
6,118
1,530
17,023
2,831
5,237
3,090
29,224
2,722
10, 495
10,543
15, 789
2,384
6,168
1,496
'17,104
'2,802
' 5, 389
' 3, 038
'29,494
' 2, 712
'10,542
'10,749
'16,033
'2,411
'6,285
' 1, 571
17,139
2,759
5,415
3,068
29,746
2,759
10,717
10,772
16,229
2,465
6,292
1,562
31, 736
7,418
2,211
3,539
2,448
6,332
2,079
1,808
31,725
7,296
2,230
3,509
2,486
6,395
2,078
1,851
32,004
7,367
2,251
3,586
2,469
6,418
2,075
1,885
32, 175 '32,285
7,399 ' 7, 292
2,225 ' 2, 240
3,564 '3,524
2,513 ' 2, 581
6,467 '6,526
2,108 ' 2, 156
1,890 '1,879
32,251
7,245
2,233
3,443
2,630
6,597
2,194
1,842
11,783
5,016
15,118
11,704
4,946
15, 086
11,684
4,945
15,096
11, 790
4,988
15, 226
11, 837 '12,048
5,028 ' 5, 062
15,310 '15,175
11,872
5,119
15,260
9,738
11,903
23,066
5,330
7,723
33, 258
9,850
12,039
23,582
5,323
7,714
33,631
9,696
12,077
23,792
5,287
7,761
33, 602
9,732
12,001
24, 349
5,449
7,832
33,803
9,832
12, 145
24,600
5,368
7,783
34,000
9,924 '9,980
12,206 '12,108
24,979 '25,387
5,086 ' 5, 128
7,831 '7,864
34, 185 '34,449
9,963
12, 138
25, 616
5,143
7,965
34, 540
4,821
11, 741
7,327
14, 702
4,867
11, 824
7,374
14, 852
4,925
12,194
7,508
15,070
4,872
12,164
7,485
15,300
4,961
12,454
7,713
15,621
5,055
12, 621
7,690
15, 662
5,121 ' 5, 137
12,880 ' 13,020
7,793 ' 7, 759
15,799 '16,109
5,172
13,098
7,651
16, 265
55,383
30, 154
25,229
13,689
4,645
11, 513
7,126
14, 038
New orders, net (not seas adj ) total cf
Durable goods industries, total
Nondurable goods industries total
do
do
do
551, 138
302, 265
248, 873
607, 161
334, 422
272, 739
52, 136
28, 471
23, 665
51,134
28,650
22, 484
50, 638
28, 531
22, 107
54,850
31, 125
23, 725
55, 696
31, 449
24, 247
56,010
31, 896
24, 114
54,204
30,175
24,029
56, 743
31,544
25, 199
51,551
28,355
23,196
53,001
28,420
24,581
58,450 '57,850
32,671 '31,853
25, 779 '25,997
New orders, net (seas, adj ) totaled
By industry group:
Durable goods industries total 9
Primary metals
Blast furnaces, steel mills
do
1551,138 1607,161
53,100
53, 101
53, 119
53.901
53,283
54,635
54,133
53,861
55, 793
54, 799
56,829 '56,821
56,352
'31,699
'5,300
' 2, 571
' 3, 437
'5,635
' 4, 097
' 7, 577
'2,490
31,013
4,745
2,188
3,270
5,5%
3,715
8,103
3,195
._
Machinery, except electrical
Electrical machinery
Transportation equipment- _.
Aircraft, missiles, and parts.
Nondurable goods industries, total
Industries with unfilled orders©
Industries without unfilled orders!
By market category:
Home goods and apparel
Consumer staples
Equip, and defense prod., excl. auto
Automotive equipment
Construction materials and supplies
Other materials and supplies
Supplementary market categories:
Consumer durables
Defense products (old series)
Defense products*. ..
Machinery and equipment
do
do
do
do
302, 265
45,393
23,037
32, 557
51,714
41, 749
76,849
28, 620
334, 422
49,790
24,380
35, 276
58, 286
42,330
86,790
31, 514
29, 325
4,475
2,120
3,225
5,134
3,505
7,589
2,654
29,380
4,345
1,941
3,195
5,210
3,656
7,578
2,755
29, 684
4,675
2,124
2,755
5,350
3,581
7,487
2,690
30. 482
4,666
2,071
2,841
5,626
3,767
7,842
3,031
29,697
4,614
2,110
2,980
5,538
3,746
7,107
2,492
30, 944
4,806
2,307
3,158
5,650
3,928
7,695
2,562
29,998
4,772
2,246
3,119
5,579
3,710
7,228
2,564
29,171
4,825
2,308
3, 157
5,627
3,664
6,341
1,796
31,069
5,161
2,510
3,197
5,433
4,079
7,554
2,502
30,482
5,001
2,370
3,091
5,513
3,707
7,657
2,468
32, 135
5,313
2,592
3,340
6,152
3,688
7,885
2,216
do
do _
do
248,873
66,285
182, 588
272, 739
74, 348
198, 391
23, 775
6,447
17,328
23,721
6,451
17,270
23,435
6,494
16, 941
23, 419
6,504
16,915
23,586
6,568
17, 018
23, 691
6,637
17, 054
24,135
6,634
17,501
24, 690
6,748
17, 942
24,724
6,856
17,868
24, 317
6,616
17,701
24,694 '25,122
6,709 '6,912
17,985 '18,210
25,339
6,911
18,428
do
do
do
do."..
do
do
150,966 i 55, 173
1106,416 1115,594
186,057 i 98, 601
148,306 i 54, 554
144,019 i 49, 522
1215,374 1233,717
4,425
10,256
8,370
4,864
4,510
20, 675
4,595
10, 220
8,649
4,639
4,508
20, 490
4,816
9,945
9,043
4,710
4,333
20, 272
4,764
9,845
9,520
4,743
4,507
20, 522
4,801
9,920
8,719
4,581
4,493
20, 769
4,750
9,969
9,305
4,665
4,642
21,304
4,709
10,110
8,761
4,655
4,561
21,337
5,030
10, 327
8,063
4,547
4,499
21, 395
5,072
10,499
9,195
5,039
4,479
21,509
4,547
10,470
8,720
5,310
4,459
21,293
4,635
10,563
9,614
5,412
4 784
21,821
'4,625
'10,884
'8,925
'5,086
' 4, 751
'22,550
4,264
11, 120
9,682
4,811
4,725
21, 750
do
do
do
do
123,257
142,473
i 24, 120
i 47, 409
'62,999
» 69, 650
1,973
3,895
1,953
6,089
2,084
4,198
2,314
6,237
2,128
4,025
1,844
6,204
2,235
4,392
2,313
6,511
2,204
3,806
2,152
6,414
2,156
4,015
2,076
7,099
2,026
3,811
1,787
6,428
2,226
2,869
1,268
6,528
2,346
4,047
2,380
6,346
2,036
3,773
1,464
6,245
2,123 '2,115
3,368 ' 4, 057
1,415 ' 1, 794
7,352 ' 6, 450
1,897
4,563
2,089
6,456
do
do
do
' Revised.
» Based on data not seasonally adjusted.
2 Advance estimat e; total nifrs.
new orders for Nov. 1969 do not reflect revisions for selected comporlents.
cf See (X>rrespending note on p. S-5.
*New series; see corresponding note on p. S-7.
9 Inchides
data for items not shown separately.
<? Includes textile mill products, leather a nd prodiicts,
paper and allied products, and printing and publishing industries; unfilled orelers for other
nondiarable go ods indu stries are zero,
HF<>r these i ndustrie s (food a nd kindr ed produicts, tob£icco proc ucts, ap parel and related
prodiicts, petr Dleum an d coal pr Dducts, c tiemicals and allie(I product,s, and ru bber and plastics
prodiicts) sale s are con sidered e qual to new order s.
SURVEY OF CURRENT BUSINESS
January 1970
1968
Unless otherwise stated, statistics through 1966 1967
and descriotive notes are shown in the 1967
edition of BUSINESS STATISTICS
Annual
S-7
1969
1968
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
July
Aug.
Sept.
88,847
85,631
3,216
89,892
86,759
3,133
89,493
86,435
3,058
89, 952 ••89,415
86, 918 '86,410
3,034 ••3,005
88, 678
85,635
3,043
June
Oct.
Nov.
Dec.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS^— Continued
Unfilled orders, end of year or month (unadjusted),
totall
mil. $
Durable goods industries, total
do
Nondur. goods ind. with unfilled orders© _do
82,499
79, 480
3,019
Unfilled orders, end of year or month (seasonally
adjusted), total^..
_ mil. $
By industry group:
Durable goods industries, total 9
do
Primary metals
do
Blast furnaces, steel mills
. do
Fabricated metal products
do
Machinery, except electrical
do_ .
Electrical machinery
do
Transportation equipment
do
Aircraft, missiles', and parts.
do
83,686
87, 152
80, 578
7,019
3,644
8 976
14, 551
13, 235
31 031
25 682
84 071
6,327
3,100
10 114
14, 790
13, 210
33 670
26 858
Nondur. goods Ind. with unfilled orders© do
3 108
3 081
3 110
3 081
3 038
2,125
44,304
9 313
27, 944
2,220
47,300
10, 279
27, 353
2, 199
46,468
9, 990
26,882
2,220
47,300
10, 279
27,353
2,186
47,649
10,169
27,465
1 698
31,888
21 243
1,790
33, 108
21 818
22, 141
1 738 1,790
32, 740 33,108
21 584 21 818
21, 862 22, 141
206 569
233 635
17 770
21 155
12 364
1,329
2,261
1 832
5,696
1,246
9 636
1,106
1,670
1 513
4,366
981
696
87
115
97
341
56
1,265.227
144, 965
323 680
325 869
334, 279
136, 434
940 996
87, 289
212 459
291 700
220, 223
129, 325
By market category:
Home goods, apparel, consumer staples . do
Equip, and defense prod., incl. auto
do._
Construction materials and supplies
do
Other materials and supplies
do
Supplementary market categories:
Consumer durables
_
do
Defense products (old series) _.
do
Defense products*
do
Machinery and equipment .
do
BUSINESS INCORPORATIONS^
New incorporations (50 States and Dist. Col.):
Unadjusted
_
.
number
Seasonally adjusted
_
do
INDUSTRIAL AND COMMERCIAL
FAILURESd*
Failures, total
number
Commercial service
do
Construction
_ _ _ _ _
do
Manufacturing and mining
do
Retail trade
do
Wholesale trade.. _
do
Liabilities (current), total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
___
_
thous. $
do
do
do
do
do
Failure annual rate (seasonally adjusted)
No. per 10,000 concerns
2
49 0
85, 938
82,946
2 992
2
38 6
85, 938
82, 946
2,992
87,126
84,150
2,976
88,041
84,988
3,053
85, 539
87, 152
87,469
82, 429
6. 133
3,053
9, 711
14,589
13, 065
32 936
26 599
84, 071
6,327
3,100
10, 114
14, 790
13, 210
33, 670
26, 858
3,070
3,108
3,142
2,238 2,328
48, 317 48, 310
10, 038 10, 013
27, 471 27, 616
1 765 1,834
33,163 33,546
21 786 22 249
22,242 22, 489
20, 310
20,292
24, 327
20, 578
563
73
93
90
256
51
88, 480
85, 380
3, 100
89, 796
86, 621
3,175
89, 595
86, 407
3,188
88,064
88, 267
89,603
89, 986
89,058
89,456
89,014
89, 411 ••89,333
89, 399
84 431 84. 994
6,494 6,575
3.109
3, 134
9 908 9 716
15,
193
14,919
13,170 13, 251
33873 34 251
26953 27, 345
85 159
6,611
3,104
9,756
15, 410
13, 272
34,086
27,173
86, 461 86, 878
6,848
6,975
3,316
3,442
9,854 10, 002
15, 783 16, 113
13, 461 13, 408
34, 436 34,388
26, 987 26, 828
85,910
7,073
3,538
10,066
16,314
13,127
33,484
26,035
86,369
7,456
3,810
10,175
16,487
13,276
33,121
25,771
85,984
7,718
4,004
10,231
16,494
13,120
32,658
25,475
86, 377
8,015
4,267
10, 436
16, 875
12, 935
32,297
24, 957
••86,288
•• 8, 172
' 4, 415
' 10, 588
r 16, 938
T
13, 133
••31,689
••24,535
86, 305
7,902
4,263
10,685
16,960
13,067
31, 974
24,667
3,108
3 148
3, 087
3,030
3,034 ••3,045
3,094
2,328
48, 863
10, 124
28,288
2,208
48, 913
10, 190
28, 675
2,176
48,006
10,237
28,639
2,223
48,173
10,312
28,748
2,117
47,727
10,373
28,797
2,110
48, 027
10,636
28,638
1,911
33, 350
22,526
22,691
1,909
33,237
22, 567
23,627
1,805
32, 931
22 383
23, 836
1,781
31,771
21,662
24,044
1,846
31,634
21,964
24,193
1,742
31,264
21,288
23,982
1,722 r 1,686
30,565 ••30,308
20,641 ••20,420
24, 527 ••24,549
20 811
22 199
23, 089
21, 353
24 698
23, 467
23 694 24,128
23,230 1 23,711
24, 015
23,771
20,990 21, 498 "24, 860
22,991 I 23,141 *>24, 487
689
65
101
121
325
77
731
79
127
112
353
60
868
111
144
126
407
80
823
109
148
142
363
61
812
105
157
122
360
68
792
109
148
126
324
85
689
113
131
113
283
49
702
86
126
108
303
79
58 651 83,414
5,862
7,949
8 157 11 394
48,285
20, 482
16,908 12, 252
5,621
5,155
75, 027
5,674
10,068
27, 256
23, 406
8,623
89 993
12 323
15 411
30 951
20 494
10, 814
84, 121 118, 761
9,176
9,068
15,206 18, 679
21, 698 57, 845
23, 827 17, 471
14,214 15, 698
92, 605
7,917
20, 543
33, 043
20, 455
10, 647
91, 921
20, 430
10, 735
24, 026
22, 774
13, 956
112,727
8,047
19,457
63,474
17, 189
4,560
62, 830
4,347
10,293
19, 252
17, 851
11, 087
29 9
32 0
35 6
36.4
36.9
39.8
34.9
36.0
39.9
39 5
40.9
85, 003
81, 951
3, 052
35 7
38.0
726
90
124
110
338
64
' 2, 075 2,006
••47,446 47,819
' 10, 774 10,887
••29,038 28,687
815
90
145
136
350
94
1,628
30,450
20,421
24,573
759
115
134
131
313
66
73, 698 116, 443 127, 138
9,416 13, 696
7,938
10, 173 21, 151 13,033
18,412 28,532 42,799
24, 016 34,647 21, 192
11,681 18, 417 42, 176
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
Prices received, all farm products^
1910-14= 100. _
262
261
253
264
263
Crops9
do
229
226
231
223
220
Commercial vegetables
do
283
313
353
344
323
Cotton
do
192
191
204
182
163
Feed grains and hay
do
174
162
159
159
156
Food grains
do
177
160
159
155
155
Fruit
do
259
242
303
285
250
Tobacco
do
555
567
577
579
584
Livestock and products 9
do
277
288
292
299
296
Dairy products
do
306
318
340
333
336
Meat animals
do
336
346
337
349
343
Poultry and eggs
do
132
154
142
166
162
Prices paid:
All commodities and services....
__do._
302
314
310
315
315
Family living items
do
322
335
341
342
341
Production items
do
292
287
294
296
296
All commodities and services, interest, taxes, and
wage rates (parity index)
1910-14= 100. _
342
354
360
360
363
Parity ratio §_.
do
74
72
74
73
73
CONSUMER PRICES
(U.S. Department of Labor Indexes')
Unadjusted Indexes:
All items
1957-59=100
116.3
123.4
124.1
121.2
123.7
Special group indexes:
All items less shelter
do
115.9
120.6
122.5
122.7
123.1
All items less food
do
124 4
124 9
116 8
121 9
124 7
All Items less medical care
do
115.0
119.7
121.9
122.2
122.5
Commodities
do
111.2
117 4
115 3
117 1 117 2
Nondurables
do
114.0
120.3
118.4
121.0
120.7
Nondurables less food
do
120.2
113.1
117.7
120.3
120.1
Durables 9.
do
104 3
109 3
107 5
108 6
108 7
Commodities less food.
__
do
109.2
113.2
115.3
115.2
115.0
Services
do
127 7
134 3
137 4
138 1
139 0
Services less rent
do
142.0
138.6
143.9
142.9
131.1
' Revised.
1 Advance estimate; total
mfrs. unfilled orders for Nov. 1969 do not reflect
2
evislons for selected components.
Based on unadjusted data.
1[ See note marked
cf on p. S-5.
e See corresponding note on p. S-6.
9 Includes data for items not
ihown separately.
*New series. Based on separate reports on defense work filed by large
Defense contractors in ordnance, communications, complete aircraft, aircraft parts, and shipbuildirig industries. It differs from the old series in that it includes defense activity in shipbuilding and excludes nondefense work in ordnance, communications, complete aircraft, and
267
226
336
166
165
156
272
583
302
329
362
156
271
228
324
173
164
156
285
583
308
323
375
160
271
227
326
174
167
156
259
585
309
318
385
150
282
237
406
170
173
157
269
585
321
314
419
134
284
231
310
180
173
151
298
585
329
310
437
139
282
224
308
184
170
142
259
592
332
317
426
160
279
220
297
173
167
145
257
607
330
325
422
153
275
214
285
164
166
152
245
615
328
337
407
164
277
217
313
183
165
157
228
611
327
349
401
161
285
228
436
180
162
158
222
605
333
355
398
184
286
221
377
169
164
159
216
602
342
352
410
199
318
344
299
321
347
302
322
349
303
325
351
306
326
351
308
325
352
305
324
352
304
325
354
304
326
355
305
327
356
306
329
358
307
365
73
369
73
372
73
374
75
375
76
374
75
373
75
374
74
376
74
377
76
378
76
124.6
125.6
126.4
126.8
127.6
128.2
128.7
129.3
129.8
130.5
131.3
128.6
129.5
124.4
125.4
127.1
126.3
125.0
126.7
127.6
128.1
123.5
131.4
131.9
127.5
127.9
128.4
129.3
126.8
130.0
130 8
125 6
128 8
129.7
128.9
124.7
125.2
128.2
124.0
127.0
126.0
126.5
127.6
123.0
123.6
122.9
119 3
121.4
118.7
119.6
122.4
120.5
121 0
121.7
117 8
127.7
126.7
122.5
123.0
125.2
124.1
126.1
124.7
125.8
121.1 121.8
125.5
125.7
121.9
121.4
122.4
124.4
125.1
123.0
123.1 123.3
120.5
113.6
113.5
113.2
111.1 111 4
111 9
111.9
111.6
111.3
109 7
111.7
120.2
120.3
117.2
117.5
118.2
116.8
118.0
118.7
119.8
118.1
115.7
148.3
147.2
142 0
140 9
142 7
143.3
144 0
146 5
145 0
146 0
139 7
153.1 154.3
147.4
152.3
146.1
148.1
148.8
149.6
151.7
144.6
150.7
aircraft parts. Further details appear in the Aug. 1968 issue of the Census Bureau Current
Industrial Report, Series: M3-1.
cf Compiled by Dun & Bradstreet, Inc. (failures data are for 48 States and Dist. Col.).
I Revisions for Jan. 1964-Mar. 1969 (back to Jan. 1959 for all farm products, all crops,
commercial vegetables, and fruit) are available from the Dept. of Agriculture, Statistical
Reporting Service.
§ Ratio of prices received to prices paid (parity index).
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
January 1970
1969
1968
1968
Annual
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.*
COMMODITY PRICES—Continued
CONSUMER PRICES-Continued
(U.S. Department of Labor Indexes— Continued)
Unadjusted indexes— Continued
Food 9
-. 1957-59-100..
Meats, poultry, and
fish
do
Dairy products
.
__ ..do
Fruits and vegetables
do
Housing.
do
Shelter?
do
Rent
do
Homeownership
do
Fuel and utilities 9
do
Fuel oil and coal. _
_
_ __ do
Gas and electricity. ..
do _
Household furnishings and operation... do
Apparel and upkeep
do
Transportation
do
Private
_
do
New cars _
do
Used cars
do
Public . . .
do
Health and recreation 9 _ _
do
Medical care
do
Personal care ._
do
Reading and recreation
do
Seasonally adjusted indexes:
Food .
do
Apparel and upkeep
do
Transportation
do
WHOLESALE PRICESo*
(U.S. Department of Labor Indexes)
Spot market prices, basic commodities:
22 Commodities
1957-59=100
9 Foodstuffs
do
13 Raw industrials
do
All commodities
_
By stage of processing:
Crude materials for further processing
Intermediate materials, supplies, etc .
Finished goods G
Consumer finished goods
Producer finished goods
By durability of product:
Durable goods
Nondurable goods _ _
Total manufactures. _
Durable manufactures
._
Nondurable manufactures
Farm prod., processed foods and feeds
115.2
111.2
116.7
117.5
114.3
117.9
112.4
120.2
109.0
111.6
108.5
108.2
114.0
115.9
113.9
98.1
121.5
132.1
123.8
136.7
115.5
120.1
139.4
132.4
148.2
122.8
128.0
121.2
114.4
122.6
126.4
122.3
127.6
116.7
132.0
111.5
116.2
110.0
115.1
124.3
120.2
117.5
102.7
118.7
144.3
132.8
149.1
123.4
128.2
122.0
115.6
122.7
127.0
122.7
128.2
116.9
132.7
111.7
116.7
110.2
115.2
123.4
120.7
117.9
102.3
115.5
144.8
133.3
150.2
123.7
128.4
121.9
116.2
122.8
124.7
123.3
128.9
117.2
133.6
111.8
116.9
110.2
115.8
123.9
122.0
119.3
102.3
122.6
145.5
133.7
151.3
124.1
128.4
122.4
116.5
123.0
127.6
124.4
130.5
117.5
135.7
112.2
117.2
110.6
116.4
124.9
124.3
121.6
102.4
130.5
147.5
134.3
152.5
124.8
128.7
123.2
118.4
122.9
127.9
125.3
131.6
117.8
137.1
112.6
117.4
111.2
116.9
125.6
124.6
121.9
101.9
131.2
148.0
135.1
153.6
125.5
129.6
123.7
119.9
123.6
130.0
125.8
132.4
118.1
138.0
112.6
117.5
111.2
117.4
126.6
124.0
121.2
101.8
126.8
148.0
135.7
154.5
125.8
130.2
125.5
125.3
124.0
130.8
126.3
133.0
118.5
138 7
112.7
117.5
111.3
117.9
127.0
124.6
121.8
101.8
128.2
149.1
136.3
155.2
126.2
130.4
126.7
127.6
124.4
132.3
127.0
134.0
118.8
140.0
112.6
117.4
110.9
118.2
126.8
124.3
121.4
101.6
127.0
149.5
137.0
155.9
126.6
130.7
127.4
127.9
125.0
130.2
127.8
135.1
119.3
141.3
113.0
117.7
111.5
118.5
126.6
124.2
121.3
101.0
125.4
149.7
137.7
156.8
126.8
131.2
127.5
129.0
125.5
126.8
128.6
136.1
119.7
142.6
113.3
118.1
112.0
119.0
128.7
123.6
120.5
99.5
121.4
150.3
138.4
157. 6
127.3
131.6
127.2
127.6
125.8
124.0
129.2
137.0
120.1
143.6
113.5
118.4
112.2
119.3
129.8
125.7
122.8
104.2
125.8
150.3
138.6
156.9
127.3
132.0
128.1
127.2
126.3
127.0
129.8
137.7
120.5
144.5
114.2
118.9
113.2
119.6
130.7
125.6
122.7
105.1
124.9
151.1
139.1
157.4
127.8
132.3
129.9
127.2
127.6
132.1
130.5
138.5
121.0
145.4
114.6
119.2
113.7
120.0
130.8
126.4
123.4
104.9
123.9
153.0
139.6
158.1
128.1
132.7
121.0
'123.2
120.7
121.6
123.7
120.6
122.2
124.1
120.6
122.0
124.5
122.4
122.8
125.3
124.7
123.6
125.7
124.6
124.2
126.3
124.1
125.5
126.9
124.7
125.8
127.6
124.1
126.4
127.4
124.2
127.1
128.4
124.0
127.1
129.0
125.4
128.6
129.8
125.1
130.3
130.1
126.8
119.3
113.7
120.6
126.8
119.1
123.6
115.1
127.0
110.4
115.1
109.5
113.0
120.1
119.6
117.3
100.8
120.5
114.6
122.6
123.8
121.7
126.9
116.3
131.1
111.3
115.9
109.9
114.8
124.0
121.2
118.9
103.8
138.3
130.0
145.0
120.3
125.7
198.1
194.7
i 100. 4
195.7
192.8
197.8
98.1
95.1
100.3
98.8
96.1
100.7
100.8
97.1
103.4
103.0
98.5
106.3
104.1
100.2
106.9
105.6
100.5
109.3
107.6
103.7
110.4
109.1
105.6
111.6
109.1
104.5
112.4
110.9
105.2
115.0
111.6
103.6
117.4
111.3
105.4
115.6
111.9
106.8
115.6
112.3
105.6
117.2
do
106.1
108.7
109.6
109.8
110.7
111.1
111.7
111.9
112.8
113.2
113.3
113.4
113.6
114.0
114.7
115.1
do
do
do
do
do
99.6
105.6
108.2
107.0
111.6
101.1
108.0
111.3
109.9
115.3
101.5
108.6
112.5
111.0
116.9
101.3
109.2
112.6
111.1
117.1
102.8
110.1
113.2
111.8
117.6
103.8
110.7
113.3
111.7
117.8
105.2
111.4
113.7
112.2
118.0
105.7
111.4
113.8
112.3
118.1
109.7
111.4
114.7
113.5
118.5
111.2
111.4
115.4
114.2
118.7
110.2
111.4
115.9
114.8
119.3
109.5
111.9
115.7
114.4
119.3
108.7
112.4
116.0
114.7
119.9
108.7
112.8
116.5
115.1
120.8
109.0
113.1
117.6
116.2
121.5
109.9
113.5
118.0
116.5
122.3
do
do
do
do
do
108.1
104.7
106.7
108.3
105.3
111.8
106.5
109.4
112.0
106.9
113.1
107.0
110.3
113.4
107.2
113.6
107.1
110.5
113.9
107.2
114.6
107.8
111.3
114.8
107.7
115.4
108.0
111.7
115.6
108.0
116.1
108.6
112.2
116.3
108.3
116.0
108.8
112.4
116.2
108.9
116.1
110.3
112.8
116.2
109.6
115.9
111.2
113.2
116.0
110.6
116.1
111.3
113.5
116.1
111.0
116.5
111.1
113.6
116.4
111.0
117.1
111.1
113.9
117.0
111.0
117.9
111.2
114.6
117.9
111.4
118.4
111.9
114.9
118.3
111.6
119.0
112.4
115.3
118.8
111.9
do
105.2
107.6
108.3
108.4
109.8
110.0
110.7
110.9
114.1
115.5
115.5
114.6
114.3
114.3
115.7
116.4
Farm products 9 ___
do
Fruits and vegetables, fresh and dried-do
Grains..
do
Live poultry
do
Livestock
do
99.7
101.6
92.2
81.9
101.1
102.2
108.2
81 9
84.9
104.8
103.1
109.4
82.0
87.6
103.9
103.3
109.3
80.4
82.9
104.2
104.9
112.0
82.5
90.5
106.1
105.0
108.7
82.0
94.3
109.2
106.5
112.1
81.6
95.5
112.5
105.6
106.8
83.1
87.0
113.8
110.5
126.7
86.7
90.7
123.0
111.2
112.9
85.6
89.8
130.4
110.5
103.1
83.7
90.2
126.8
108.9
106.7
81.9
92.3
123.6
108.4
103.4
83.4
89.0
119.2
107.9
101.3
84.8
85.3
118.7
111.1
125.3
81.7
86.3
116.6
111.7
112.4
82.9
86.9
120.2
Foods and feeds, processed 9
Beverages and beverage materials
Cereal and bakery products
_
Dairy products
Fruits and vegetables, processed
Meats, poultry, and fish _ ...
do
do
do
do
do
do
111.7
106.5
117.1
121.9
107.2
105.0
114.1
109.6
118.2
127.7
114.1
108.3
114.7
110.6
119.3
130.0
114.1
107.7
114.7
110.6
119.3
130.4
113.3
107.3
116.0
110.8
119.3
130.1
113.6
111.1
116.3
111.1
119.3
130.2
114.5
111.4
116.4
111.3
119.3
130.4
115.1
112.2
117.3
111.4
119.3
131.4
115.4
114.0
119.4
111.8
119.4
132.5
115.7
121.0
121.4
112.4
119.7
133.0
115.6
126.5
122.0
112.6
119.9
133.0
116.6
127.5
121.5
112.6
120.1
133.0
116.8
124.5
121.3
113. 1
120.4
133.4
116.6
122.9
121.6
115.0
121.2
130.7
116.0
120.2
121.8
116.0
121.9
131.2
116.3
120.5
122.6
116.1
122.0
133.9
116.4
121.9
do
106.3
109.0
109.9
110.2
110.9
111.4
112.0
112.1
112.2
112.2
112.4
112.8
113.2
113.8
114.2
114.6
do
do
do
do
do
do
98.4
103.6
97.4
94.0
81.3
109.3
98.2
99.7
98.4
93.3
73.9
114.6
97.8
96.7
97.9
93.5
73.4
115.9
97.7
96.4
97.9
93.6
69.8
115.9
97.6
92.9
98.1
93.4
72.2
118.2
97.8
92.2
98.1
93.4
73.6
118.2
98.0
92.3
97.9
93.6
80.4
118.7
97.9
92.1
96.7
93.7
83.7
118.7
98.1
92.1
96.9
93.8
83.3
118.7
98.3
92.1
97.0
93.8
86.8
119.2
98.2
88.6
97.7
93.8
90.5
119.2
98.7
88.4
98.2
93.8
99.3
119.2
98.9
87.4
98.2
94.0
102.1
119.2
98.6
86.3
97.6
94.0
98.9
120.3
98.9
86.7
97.8
94.2
100.5
120.3
98.8
86.7
97.8
94.6
92.8
120.3
Fuels and related prod., and power 9 _ _ do
Coal
do
Electric power
Jan. 1958 = 100
Gas fuels
do
Petroleum products, refined
1957-59 = 100- .
103.6
103.3
100.7
133.7
102.2
102.4
106.7
101.5
123.8
100.3
102.0
111.0
102.0
120.4
99.2
102.2
112.7
102.1
120.9
99.0
102.4
112.7
102.0
124.4
98.9
102.7
112.7
102.2
124.0
99.5
104.2
112.7
102.3
124.6
101.7
104.5
112.8
102.3
121.8
102.5
104.5
113.5
102.5
121.6
102.4
105.0
114.2
102.6
121.8
103.3
105.0
115.4
102.5
121.6
103.2
104.7
115.5
102.4
121.8
102.5
104.7
115.9
103.5
123.0
101.8
105.4
120.6
103.7
128.7
101.6
105.5
123.5
103.4
128.8
101.6
106.1
124.6
103.4
131.8
102.2
Furniture and household durables 9 ... do
Appliances, household
_ do
Furniture, household _
do
Home electronic equipment .
do
101.1
90.2
112.9
82.6
104.0
92.2
117.2
81.0
104.7
92.7
118.9
80.2
105.0
92.9
119.2
79.8
105.3
92.6
120.7
78.7
105.4
92.5
121.0
78.7
105.7
92.8
121.3
78.6
105.8
93.0
121.5
78.5
105.9
93.0
121.9
78.1
105.9
92.9
122.3
78.1
106.1
93.0
122.8
77.9
106.2
93.0
123.0
77.9
106.4
93.0
123.0
77.9
106.5
93.1
123.3
77.9
106.9
93.6
123.6
77.7
107.2
93.6
123.6
77.8
Hides, skins, and leather products 9
Footwear ...
Hides and skins
Leather
Lumber and wood products
Lumber
115.8
122.1
94.2
110.3
105.4
108.4
119.5
128.0
99.6
112.6
119.3
127.2
122.4
131.7
107.0
113.8
126.8
136.2
122.8
131.7
106.8
115.8
133.5
142.2
123.5
132.1
109.2
116.8
137.8
147.9
123.4
132.2
106.3
116.5
144.5
155.8
123.4
131.5
109.1
116.4
149.5
164.7
126.0
131.9
125.8
122.3
143.3
164.9
126.1
132.1
122.6
121.7
138.0
155.9
125.7
132.3
117.4
121.5
129.8
142.3
126.4
132.7
123.0
121.2
125.3
133.4
126.4
132.7
123.1
121.0
124.0
131.1
128.2
134.9
128.7
121.7
123.2
129.5
127.4
135.2
118.0
120.3
122.6
128.0
126.8
135.5
110.4
119.6
123.9
129.3
126.5
135.0
108.9
119.7
122.5
128.2
117.8
117.3
131.7
131.6
134.0
133.6
104.2
103.5
131.4
131.1
comm odities.
118.0
131.8
134.1
104.3
131.8
118.3
131.9
134.3
104.5
132.1
118.6
119.9
119.0
119.1
132.0
133.0
132.3 132.3
134.5
136.1
134.9
134.8
104.7
105.4
104.7
104.8
132.3
134.4
133.5
133.3
OGoods to use rs, incl. i•aw foods; and fueIs.
120.5
133.2
137.7
105. 6
135.4
121.0
135.8
138.6
106.0
136.5
121.9
136.4
139.8
106.2
138.0
Industrial commodities
Chemicals and allied products 9
Agric chemicals and chem. prod
Chemicals, industrial .
Drugs and Pharmaceuticals... -_
Fats and oils, inedible __
Prepared paint...
do
do
do
do
do
do
Machinery and equipment 9
do
115.2
111.8
116.6
117.0
116.7
Agricultural machinery and equip
do
122.4
127.1
129.3
130.1 131.2
Construction machinery and equip
do..
123.2
129.6
132.1
133.5
132.7
Electrical machinery and equip
do".
103.0
101.8
103.6
103.5
103.5
Metalworking machinery and equip
do
128.6
130.4
123.8
131.0
130.5
/ Revised.
» Preliminary.
1 Computed by QBE.
9 Include s data fc r items not
shown separately.
cf For actual wholesale prices <Df individtlal comm()dities, s(je respec tive
J
January 1970
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
Annual
S-9
1969
1968
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
117.5
97.0
109.9
134 2
117.9
97.2
110.3
135.5
118.7
97.7
111.1
136.1
120.4
97.7
112.7
139 5
121.7
98.0
113.2
143.5
122.4
98.7
113.7
144.8
122.9
99.3
113.7
146 4
123.8
99.7
113.9
150 1
COMMODITY PRICES—Continued
WHOLESALE PRICES^— Continued
(U.S. Department of Labor Indexes— Continued)
All commodities— Continued
Industrial commodities— Continued
Metals and metal products 9 .. . 1957-59 = 100
Heating equipment
do
Iron and steel
_
do
Nonferrous metals
do
109.6
92.7
103.6
120 9
112.4
94 9
105.5
125 3
112.4
95.8
106.0
122 4
112.8
96 0
106.1
123 5
114.4
96.1
107.5
127 2
115.2
96.3
108.0
128.9
115.8
96.6
108.8
129 9
116.5
96.8
108.9
132 4
Nonmetallic mineral products 9
do
Clay prod., structural, excl. refractories
do....
Concrete products _.
- d o
Gypsum products
do
Pulp, paper, and allied products
do
Paper..__ _
__ . do
Rubber and products
do
Tires and tubes .
do
104.3
108.1
109.2
109.3
110.6
111.2
111.9
112.3
112.6
112.8
113.0
113.0
113.5
113.8
113.9
114.5
110.4
105.4
102.8
K)3.8
110.0
96.9
96.0
113.1
108.1
105 5
105.2
112.7
100 3
99.2
115.2
109.2
106 2
105.2
113.4
101 1
99.5
115.4
109.5
106 2
105.2
113.4
101.1
99.5
115.8
110.7
106 2
106.2
115.0
100.0
96.3
115.9
110.8
106.2
106.8
115.7
100.5
96.3
116.0
111.2
106.2
107.4
116.1
100.9
96.3
116.7
111.3
106 2
108.0
116.4
101 2
96.3
116.8
111.6
1C8 7
108.1
116.7
101. 1
96.3
116.9
111.6
108.7
108.3
117.0
101.2
96.3
116.9
112.3
104.9
108.4
117.1
102.5
98.4
117.0
112.4
103.2
108.7
117.2
103 0
99.2
117.5
113.2
106.1
108.8
116.5
102.7
99.2
117.8
113.5
105 9
109.0
116.5
103.5
100.6
118.5
113.6
109.8
109.3
117.0
104.4
101.7
118.5
114.2
104 3
109.5
117.4
104 5
101.7
Textile products and apparel 9
Apparel.
Cotton products
..
Manmade fiber textile products
Silk yarns
Wool products.
_
102.0
106.8
100.7
86.5
172.0
103.3
105.7
110.3
105.1
90.8
183 0
103.7
107.2
111.8
105.4
93.0
172.0
104.6
107.1
111.9
105.1
92.9
165.2
104.6
107.4
112.7
104.8
92.8
160.8
104.7
107.2
112.7
104.8
92.3
156.4
104.4
107.1
112.8
104.6
92.1
155.0
104.2
107.1
113.0
104.5
92.4
155.4
104.3
106.9
112.9
104.6
92.6
157.9
104.3
107.2
113.3
104.5
92.7
164.6
105.0
107.7
113.9
105.3
92.6
168.2
105.0
108.7
115.8
105.7
92.7
177.1
104.8
109.0
116.2
105.9
92.1
181.2
105.0
109.1
116.5
105.8
91.6
183.9
104.5
109.2
116.7
106.0
91.5
184.6
104.6
109.2
116.9
106.1
91.1
191.1
104.3
102 2
109.3
105. 8
112.9
104 9
111.8
108.3
115.2
106.6
112.5
109.2
116.5
100.0
106 6
112.5
109.3
116.5
100.1
106.5
112.5
110.2
116.6
100.1
106.4
112.5
110.1
116.7
100.0
106.3
112.5
110.5
116.7
100.1
106 4
112.7
110.8
116.9
100.2
106.5
112.8
110.7
117.0
100.3
106.6
115.1
110.9
123.2
100.4
106.6
115.5
111.2
123.4
99.9
106 0
115.9
111.8
123.5
100.0
106.1
116.4
112.1
123.8
102.3
108.7
116,7
112.3
123.8
102.7
109.0
117.0
112.8
124.0
102.7
109 0
117.0
112.7
124.0
$0.943
.860
$0.920
.825
$0.912
.810
$0.911
.808
$0.903
.806
$0.900
.803
$0. 895
.796
$0.894
.791
$0.887
.789
$0.883
.784
$0.883
.780
$0.882
.777
$0.880
.774
$0.877
.770
$0.872
.767
$0.869
.762
do
do
do.
do
do.
do_
Transportation equipment 9 - - Dec. 1968 - 100
Motor vehicles and equip.
1957-59 — 100
Miscellaneous products 9
do
Toys, sporting goods, etc
do
Tobacco products
do
PURCHASING POWER OP THE DOLLAR
As measured byWholesale prices
Consumer prices
_.
1957-59=$!. 00..
__ _ do
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE J
New construction (unadjusted), total
.mil. $_.
76,160
84,692
7,792
6,822
6,201
5,884
6,509
7,303
7,946 '8,400 ' 8, 592 '8,685 '8,783 ' 8, 510
7,975
Private, total 9
do
Residential (nonfarm) _.
do
New housing units
._
do
Nonresidential buildings, except farm and public utilities, total 9
mil. $..
Industrial
_
do
Commercial
do
Farm construction
_
do
Public utilities:
Telephone and telegraph
do
50,587
23,736
17,885
56,996
28,823
22,423
5,225
2,593
2,102
4,855
2,454
1,996
4,325
2,133
1,723
4,028
1,940
1,562
4,423
2,195
1,729
4,940
2,533
1,916
5,385
2,801
2,076
5,709
2,978
2,243
5,956
3,085
2,267
6,013 '6,102 '5,996
3,051 '2,946 '2,836
2,186 ' 2, 125 '2,080
5,633
2,679
1,970
18,106
6,131
6,982
1,324
18,800
5,594
8,333
1,752
543
798
1,583
529
692
1,519
463
678
1,453
437
647
1,519
466
685
1,625
471
720
1,742
503
783
1,829
535
850
1,946
562
908
2,013
558
936
2,200 '2,169
621
'613
1,033 '1,025
2,030
565
923
1,638
1,704
173
183
186
190
Public, total 9—
25,573
27,694
2,567
9,974
706
406
721
8,538
10,445
746
517
824
9,295
904
65
53
83
922
814
86
43
92
511
87.8
88.1
59.0
58.9
30.2
30.9
19.2
6.3
8.3
18.4
5.9
8.0
do
Buildings (excluding military) 9
do
Housing and redevelopment
do .
Industrial
do
Military facilities
do
Highways and streets
do
New construction (seasonally adjusted at annual
rates), total
bil. $
Private, total 9
do
Residential (nonfarm)
do
Nonresidential buildings, except farm and public utilities, total 9—.
...bil. $
Industrial
do
Commercial
_
do
Public utilities:
Telephone and telegraph
do
161
164
1,967
204
222
132
162
166
1,856
2,086
2,363
2,561 '2,691 '2,636 ' 2, 672 '2,681 ' 2, 514
861
98
37
62
442
954
118
40
72
539
1,008
111
46
89
696
1,062 '1,067
'60
85
61
54
88
84
'917
821
92.0
92.1
'91.7
'92.7
'92.3
'91.5
'91.8
'91.7
'93.6
'93.9
62.9
62.6
62.8
63.0
63.6
63.2
64.2
64.0
'65.6
'65.8
63.8
31.1
31.4
32.4
32.9
32.9
31.8
31.4
30.9
'31.1
'31.5
31.2
21.9
6.8
10.0
21.5
6.3
9.9
20.6
6.0
9.8
20.2
5.9
9.1
20.6
5.9
9.3
21.2
6.1
10.0
22.4
6.4
10.4
22.7
6.4
10.3
23.8
6.7
11.1
'23.7
'6.9
'10.9
22.3
6.5
9.6
128
1,876
799
81
44
68
510
'940
'996
'75
'73
30
44
83
67
'950 '1,064
970
89
37
95
1,023
2,342
1,024
129
'42
88
889
92.0
1.8
1.8
2.0
1.8
1.9
2.0
2.1
2.0
2.2
2.2
2.4
2.5
do
28.8
29.2
29.1
29.5
'29.0
'29.7
'28.7
'28.3
'27.5
'27.7
'28.0
'28.1
28.2
.do
do
10.9
.7
.7
.9
9.4
11.0
1.0
.6
1.1
9.6
11.2
1.2
.5
1.0
9.7
11.4
1.5
.5
1.0
10.1
12.2
1.4
.5
1.0
8.9
12.7
1.4
.5
1.2
'9.1
12.2
1.2
.6
1.0
'8.9
11.3
.8
.6
1.0
8.8
10.8
.7
.4
.8
8.8
11.1
.8
.6
.9
9.0
.4
.9
'.5
.9
.5
4,863
4,543
4,766
4,802
5,003
5,895
7,081
6,443
6,298
6,523
5,140
6,240
4,406
183
179
191
205
177
183
210
186
180
216
173
195
178
Public ownership
mil. $ i 19, 039 1 19, 597 1,558
1,278
1,546
Private ownership...
do
135,475 i 42, 135 3,305 3,265 3,220
By type of building:
Nonresidential
do
120,139 i 22, 513 1,992
1,849
2,145
Residential 1...
do
121,155 224,838 2,043
1,743
1,746
Non-building construction
do
J13, 220 1 14, 382
828
951
875
New construction planning
(Engineering News-Record) §
do
59,944
52, 419
6,649
5,461
4,405
' Revised.
* Preliminary.
i Annual total reflects revisic ns not diJ>tributed to mont hs.
2
See note "f " for this page.
3 Computed from cmmulativ e valuaticHI total,
cf See corresponding note on p. S-8.
9 Includes clata for it ems not s lown sej>arately.
I Revisions for 1965-1967 for seasonally adjusted data appear on p. 51 oft!le July 1969 SUEVI:Y;
for revisions to the unadjusted data see Bu. of Censu » report C30-68-6.
1,572
3,230
1,632
3,371
1,791
4,104
2,536
4,545
2,326
4,118
2,352
3,947
2,605
3,918
1,719
3,420
1,626
4,615
1,427
2,980
1,885
1,820
1,097
1,772
1,957
1,274
2,136
2,546
1,213
2,680
2,620
1,780
2,357
2,548
1,538
2,402
2,296
1,600
2,460
2,394
1,669
2,013
1,952
1,175
2,502
2,290
1,449
1,566
1,675
1,165
Public, total 9
Buildings (excluding military) 9. .
Housing and redevelopment
Military facilities
do"""
Highways and streets
_
.do
CONSTRUCTION CONTRACTS
Construction contracts in 48 States (F. W. Dodge
Division, McGraw-Hill):
Valuation, total 1
mil. $_. i 54, 514 1261,732
Index (mo. data seas, adj.)
372-943 O - 70 - 5
1957-59=100..
3153
3173
3,858 7,124 6,878 5,486
3,617
4,690 3,738 4,572 4,267
4,368 4,167
1fBei jinning J an. 1968, data are not entiirely com parable iwith tiux56 for ear lier perio ds; new
compi] ation me thods ra ises the 1evel of «jsideutia data by 8 percent and th B total v*iluation
by3p<jrcent.
§Data for Jan. , May, July, andI Oct. 1969 are for 5 week s, other imonths,
4 weeks.
S-10
January 1970
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
|
1968
Annual
1969
1968
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
CONSTRUCTION AND REAL ESTATE—Continued
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total, incl. farm (private and public). ..thous.. 1, 321. 9
One-family structures
do
844.9
Privately owned.
_
do
1, 291. 6
Total nonfarm (private and public)
In metropolitan areas
Privately owned .
do
do
do
Seasonally adjusted at annual rates:
Total, including farm (private only)
Total nonfarm (private only) .
do
do
New private housing units authorized by building
permits (13.000 permit-issuin? places):}
Seasonally adjusted at annual rates:
Total..
_
thous
One-family structures
do
1,298.8
919 7
1, 268. 4
1 141
651
1,547.7
900.7
1, 507. 7
1,523.6
1 117 6
1 483 6
1,341
129.5
65 1
127 1
99.8
53 9
96 4
105.8
51 3
101 5
94.8
48 0
90 1
135.6
72 o
131 9
159.9
85 0
159 0
157.7
91 4
155 5
150.8
82.9
147.3
126.5
73.6
125.2
127.6
69.5
124.9
132.9 ' 125. 8
' 71.6 r '67.4
123. 4
129.3
124.3
90 7
122.9
126.2
91.2
123.5
131.2
r 93 9
127 6
' 124. 5 '95.9
66.4
••90.3
T
122. 1 '93.1
127.5
96 8
125 1
98.9
75 i
95 5
104.5
80 9
100 2
93.9
73 3
89 2
134.4
102 0
130 6
158.3
117 8
157 4
156.1
114 5
154 0
148.3
109 0
144 8
1,733
1 705
1 507
1 492
1 878
1 845
1,686
1 664
1 584
1 567
1,563
1 548
1,509
1,495
1,469
1 446
1,371
1,349
1,384
1,370
1,542 rr 1, 392
1, 379
1 522
1 425
1 463
1 403
1 477
1 421
1 502
1,323
1,228
1,245
659
632
1 340
1 201
670
689
729
736
671
685
631
570
570
565
••97.4
54.6
'94.6
1,183
574
81.8
80.5
81.5
80.2
'1,297
' 1, 277
1,245
1,240
' 1, 191
'596
1,177
631
CONSTRUCTION COST INDEXES
Dept of Commerce composite!
American Appraisal Co., The:
Average, 30 cities
Atlanta
New York
San Francisco..
St. Louis
__
1957-59 — 100
125
131
135
1913=100
do
do
do
do
909
992
970
997
1 072
1 070
1 110
1 093
1 001
Associated General Contractors of America, Inc.,
The (building only)
1957-59= 100..
1 008
910
903
966
953
969
137
137
138
139
139
142
143
143
1 015
1 125
1 105
1 035
1 026
1 138
1 113
1 047
1,032
1, 151
1,117
1,057
990
996
1,040
1,148
1,109
1,048
978
1 034
1 154
1 116
1 047
1,001
997
046
137
104
032
019
1,059
1 161
1 106
1,062
1,019
1,061
1,176
1,105
1,062
1,035
10fl
1 007
1 111
1 099
1 013
971
r 143
144
1 065
1 179
1 106
1 063
1 054
1,069
1,177
1,133
1,063
1,053
1,073
1,178
1,136
1,066
1,054
1,076
1,178
1,136
1,061
1,054
132
, 139
143
143
145
146
146
147
148
151
153
153
153
153
153
154
E. H Boeckh and Associates, Inc.: 1
Average, 20 cities:
All tvpes combined
1957-59=100.
Apartments, hotels, office buildings
do
Commercial and factory buildings
do
Residences
do
129 8
130.7
130.2
127 4
139.9
139.1
136 7
142.3
143.4
142.4
140 3
144.1
143.1
141 1
146.3
144.5
143 2
146.2
148.0
145.7
144 9
147.5
149.2
146.9
146.4
146.9
148.4
146.2
146 3
147.3
149.0
146.5
146 7
149 7
151.5
148.9
149 0
150.8
153.0
150.3
148 9
151.9
154.5
151.0
150 4
151 8
154.4
151.0
149 8
152.4
155.1
152.1
149.3
153.1
156.0
152.5
150.1
153.7
156.4
153.2
151.0
Engineering News-Record:}
Building
Construction
127 4
140 8
136 8
151.9
141.7
156 7
143 2
158.0
145 0
160 0
146 2
161 8
147 9
162.9
149 9
164 3
150 1
165.6
151 5
169 1
150 3
168 8
151 6
170 0
151 0
169 1
151.3
171.0
151.9
171.7
i 152. 2
i 171. 8
117 6
121 6
153 2
165 8
154 0
161 3
143.1
167.1
146 8
156 5
149 6
169 3
170 5
176 4
178 8
175 9
181.0
168.9
177 0
165 6
169.2
175.0
163 0
149 6
186 6
171 1
168 1
198 1
145 2
163 4
185 2
139.5
157.8
136 1
143.0
162.7
114 2
148.8
160.3
120 2
178.5
178 3
156 2
180 9
179 8
207 3
186.4
175.3
236 0
180 9
161 6
245 4
170.9
157.2
253.4
168.5
156.4
257.2
1fi7 9
168 9
13 6
12 3
12 4
13 8
16 0
16 8
15 4
ifi 1
15 2
14 5
16 7
19 9
14 7
124.3
131.7
11.4
172
9.0
136
10.1
148
9.9
132
12.2
136
12.2
124
11.5
122
11.4
126
13.6
145
13.0
151
11.1
127
11.4
130
11.5
184
5 884 64 6 495 94
O At\A C7 3 773 88
598 76
376 98
525 34
365 50
608.39
369 83
494 04
295 68
qoq (\A
on-i ort
541 29
519 70
323 09
595 38
308 13
657.56
355 55
630.40
384 56
714 28
363 55
712. 12
397 44
560.12
328 54
4,386
5,259
5,040
5,259
5,357
5,298
5,331
5,764
5,971
6,413
7,053
7,544
7,940
' 8, 439
8,802
20 122
21 983
1 724
1 886
1 592
1 580
1 870
2 Q73
2 146
2 415
1 974
1 918
1,728
4 243
9 go4
6*275
4 916
11 215
5 852
392
868
464
407
869
610
348
783
461
364
767
449
440
896
534
485
482
495
421
393
1 023
1,113
1 345
134 203
110 404
8 264
7 971
8 292
7 503
8 443
8 305
8 474
8 108
7 511
7,473
7,758
1 706 72 1 829 92
134 21
164 57
148 21
172 14
154 89
do
do
Bu. of Public Roads— Highway construction:
Composite (avg. for year or qtr.) _ 1957-59=100
123.5
132.3
130 3
136 3
CONSTRUCTION MATERIALS
Output index:
Composite, unadjusted 9
Seasonally adjusted
.
1947-49—100
do
Iron and steel products, unadjusted
Lumber and wood products, unadj _.
Portland cement , unadjusted
do
do
do
REAL ESTATE
Mortgage applications for new home construction:
Applications for FHA commitments
thous units
Seasonally adjusted annual ratesj
do
Requosts for VA appraisals
do
Seasonally adjusted annual rates}
do
Home mortgages insured or guaranteed byFed. Hous. Adm.: Face amount
mil $
Vet Adm * Face amount§
do
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $._
New mortgage loans of all savings and loan associations, estimated totalt
mil $
By purpose oilcan :J
Home construction
do
Home purchase..
do
All other purposes
do
Foreclosures f.
Fire losses (on bldgs contents etc )
number
mil $
212
178
187
156 08
179 47
168
149 12
160
491 60
173 91
165
565
169 91
167
551
157 52
174
575
174
1,091
462
169
1,089
436
192
377
936
415
230
1 698
237
10.1
147
9,289
1,307
365
862
471
282
657
368
156.54
146. 32
DOMESTIC TRADE
ADVERTISING
Marketing/Communications advertising index, seasonally ad justed: 0
Combined index
1957-59=100
Business papers..
do
Magazines
do
Newspapers ..
do
Outdoor
_._ .
do
Radio (network)
do
Television (network)
do
162
155
149
161
131
125
128
128
162
157
172
170
124
132
117
135
106
96
92
113
130
118
139
123
206
213
224
225
' Revised.
1 Index as of Jan. 1, 1970: Building, 152. 2; cons traction, L72.2.
^Revisions for Jan.-Aug. 1967 for new private housing units a uthorized ; for 19€ 5-May 1967
for Dept. of Commerce composite; for July-Dec. 19(>6 for EN R buildirig and c onstruct ion
cost indexes; for 1960-66 (seas, adj.) for FHA applicati<ms and V A apprais als; and f 3rJan.l961Dec. 1967 for new mortgage loans will be shown later
162
128
163
134
110
117
231
159
163
130
139
164
163
132
133
79
117
116
99
226
227
ICop)yrighted data; see last paragraph of headnote, p. S-l.
§ Data include guaranteed direct loans sold,
9 Ineludes da ta for items not shown separately.
tRevised ser les. Data are based on a new benchmark (1967) and reflect improved reporting,
iclusion
of
farm
foreclosures
and
data
for Alaska and Hawaii. Jan. 1967-Apnl
as wel as the ii
1968 djita will b e shown later.
jnnerly IWinter's Ink advertising index.
eF
SURVEY OF CURRENT BUSINESS
January 1970
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
S-ll
1968
| 1968
Annual
Nov.
1969
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
1 Dec.
DOMESTIC TRADE—Continued
ADVERTISING— Continued
Television advertising:
Network (major national networks) :
Net time costs, total
Automotive, incl. accessories
Drugs and toiletries
Foods, soft drinks, confectionery
Soaps , cleansers, etc
Smoking materials
Allother
mil. $.. 1, 499. 9
115.8
do
429.0
do
do
306.8
134.3
do
183.1
do
331.0
--do
1,550.0
125.9
437.0
293.3
144.9
156.8
392.1
Magazine advertising (general and natl. farm maga7ines):
Cost total
mil. $__ 1 161 6
Apparel and accessories
__do
60.7
Automotive, incl. accessories
do
103.7
Building materials.
..do
31 0
Drugs and toiletries
do
148.4
Foods, soft drinks, confectionery
do
116.1
1, 196. 1
63.5
112.6
32.3
144.4
106.3
134.7
6.6
13.9
2.2
15.1
11.6
100.6
4.0
7.4
1.6
12.0
9.1
67.2
2.0
6.8
1.4
8.7
5.8
88.6
3.7
8.7
22
11.8
8.9
108 6
7 0
11.3
2Q
12 1
122.2
9.3
9.7
8.8
8.6
95.6
75.7
56.7
22.2
43.2
443.6
13.0
9.8
5.4
1.8
4.4
50.9
15.6
5.4
4.2
1.1
4 3
36.0
3.2
2.8
3.7
1.1
3.2
28.5
4.6
3.1
33
14
35
37 2
73
8.5
8.4
9.5
4 8
17
36
41 6
4
2
4
47
6
2
3
6
10.5
7 3
17
4 1
47 8
9.2
6.4
5.6
1.2
315.9
79.0
236.8
13.1
6.2
32.5
185.0
316.0
67.9
248.1
9.3
7.1
24.2
207.5
256.0
77.1
178.9
11.6
8.6
20.9
137.9
250 5
75 6
174 8
13 5
53
23 ft
132 5
304 7
89 7
215 0
15 0
70
27 3
165 7
299 7
87 7
212 0
16 1
78
26 6
161 4
18,906
8,578
10,329
18, 917
8,428
10 489
17, 576
8,017
9,560
16, 897
7 962
19,158
8 878
10 280
22, 666
13, 202
9,464
22, 487
13, 245
9 242
22, 523
13, 180
9, 343
22, 720
13 404
30 112 34 086 26 237
9,554
9 675 8,335
5 623
5 137
5 049
5,196
4,806
4,604
427
331
445
1,489
1 770 1,267
933
786
1,025
464
401
613
1 198 1 186
938
907
727
817
291
211
369
20,558 24 411 17, 902
1,810 2 641
1,403
437
370
689
701
530
990
277
215
343
Beer, wine, liquors
do
Household equip., supplies, furnishings.. do
Industrial materials
_
do
Soaps, cleansers, etc__
do
Sm okincr materials
__
do
Allother
do
Newspaper advertising linage (52 cities):
Total
mil. lines..
Classified
.
do
Display, total
do
Automotive
do
Financial..
do
General
do
Retail
do
WHOLESALE TRADE
Merchant wholesalers sales (unadj.), total, mil. $..
Durable goods establishments
do
Nondurable goods establishments
do
89.2
70.7
62.7
22.9
39 9
416.3
3 297.8 3, 381. 1
923.7
878.1
2 419 6 2, 457. 3
171.0
158.5
72.8
66.9
296.1
297 1
1 897. 1 1, 917. 4
205,188
90 447
114 741
219, 943
100, 012
119, 930
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total©-_mil. $.. 21, 514
22, 487
Durable goods establishments
do
13, 245
12 308
Nondurable goods establishments
do
9 242
9 206
RETAIL TRADE t
All retail stores: tc
Estimated sale (unadj ) total t
mil. $ 313 809 °339, 324
Durable goods stores 9
do
100 173 110, 245
Automotive group
do
58 273 65, 261
60, 660
Passenger car, other auto, dealers
do
53 966
4,601
Tire, battery, accessory dealers
do
4 307
16, 540
Furniture and appliance group 9
do
15 267
10, 227
Furniture, nomefurnishings stores
do
5,235
Household appliance, TV radio
__do_ __
Lumber building hardware group
do
12 675
10, 984
Lumber, bldg. materials dealersc?
do
9,781
Hardware stores
do
2 894
Nondurable goods stores 9
do
213 636 °229, 079
19, 265
Apparel group
do
18 123
4,516
Men's and boys' wear stores
do
7,429
Women's apparel accessory stores do
3,196
Shoe stores
_ __ _
do _
Drug and proprietary stores
__do
Eating and drinking places
do
Food group
do
Grocery stores
- -do
Gasoline service stations
do
General merchandise group with nonstores9
- ...mil. $..
General merchandise group without nonstores 9 §
- .mil. $ _
Department stores
do
Mail order houses (dept. store mdse).do
Variety stores
do
Liquor stores
do
Estimated sales (seas, adj.), total t
do
Durable goods stores 9
do
Automotive group
do
Passenger car other auto dealers
do
Tire battery accessory dealers
do
500.3
48.9
136.6
88.0
36.9
49.1
140.8
436.4
381.0
27.5
104.3
70.9
38.0
38.5
101.7
35 6
131. 9
87.2
41.8
47 2
92.7
6.9
7.9
11.3
37
13.8
125.7
5.3
11.2
4.1
15.4
98.8
2.4
9.3
2.7
343 8
21 3
103 1
66 4
39 4
35 0
78 6
71.4
1.0
5.3
.1
14.4
10 9
7.7
73 4
61
4.4
113 4
9 4
9.0
97
133 3
6 2
17.1
2 8
14 6
14
U o
5.8
14 6
8.2
9.4
4 7
7 4
11 3
10.2
6.7
4.4
3.2
133 9
5 6
13.2
16
15 8
11.3
10 0
A Q
7.0
a n
0
j j
3g
35.2
g
36
26 4
97 Q
AV «
KA C
K9 0.
326 6
95 7
230 9
17 9
61
29 7
177*1
303 1
89.8
213 2
15 7
7g
25 5
164 3
273 3
83 7
189 6
14 7
o 9
OQQ Q
qofi q
oon a
Q9 9
8fi 1
9O7 fi
on n
907 o
OQ A
nco n
1Q o
1A7 f\
165.3
19, 912
9 489
10 423
20, 150
9 420
10 730
20,036
20,008
OCR
23, 116
13 723
9 0QO
23, 349
14 031
9 0-10
23, 348
14 060
9 288
23,500
24 844
27 955
28 814
30 812
8,245
9,222
10,259
29,625
10,207
6,152
5,339
368
9,742
5,924
5,500
424
5,750
450
5,695
457
5,616
5,171
Q QOK
9
O1 K
5 058
4,743
315
5 707
6 200
9 549
10 485
14 227
9 273
4 5
9
23, 349
H I 79
7 q
on o
iq 7
c Q
q-l
7
1QA Q
nr\A Q
20036
••21, 935
20,638
K7C
19, 869
10,742
1 1 neq
23495
23,669
••24,229
14. iqo
9
rift 19>7
r-IA
091
Q QOC
24 308
28 583 '30 645 '29 911
8,948
445
1,417
1,383
902
412
899
446
859
454
1 098
1 271
866
232
980
291
1,344
1,033
1 370
1,073
1 345
1,048
311
297
16 599
1*214
18 733
1 528
19 072
1,642
20, 553
1,662
19 418
1 550
289
479
190
330
600
265
368
626
282
391
642
286
375
574
289
330
561
262
884
932
2,000
961
2,336
1 817
5 758
5 401
1 836
7
Q
29 424
1,386
942
1,918
6,246
5,868
1,992
H
0
8.9
ft n
i K
4
9,496
838
372
1 295
2 041
6 375
5 945
2 079
A
29 026
1,281
924
2,045
6,425
6,009
2,055
7
-I
i
O
1
4
10, 013
1,291
842
372
18.2
•la
a
OK
1 KQ
ft
9,233
768
374
968
766
202
1 216
A O
K
297
19,530
1,471
5 098
4,687
411
1,360
864
417
1 312
1*033
279
20476
1 679
360
605
337
136 205
9,364 '10,055 '9,128 119,908
5,481 '6 088 ' 5 382 5 319
5,103 ' 5, 673
4,981
378
••415
401
1,401 '1,434 '1,448
i I, 779
855
••889
895
441
'446
463
1 279 T 1 309
1 158
1,018 '1,037
882
"272
261
276
19,219 '20 590 '20 783 i 26 297
1,642 ' 1, 747 '1 765 i 2 873
354
'403
429
672
626
664
'307
306
328
22 739
11, 458
25, 285
°72, 881
°67, 925
24 526
49, 820
54, 493
5,488
7,807
3,587
3 410
4,247
4 500
4,771
4 593
4,508
4 938
4,669 ' 5, 107 '5 666 i 8 387
49, 295
33, 323
3,256
6,152
6,969
4,997
3,402
417
578
647
28,806
9,314
5,521
5 124
397
7,286
5,092
434
980
825
28,347
9,238
5 445
5 082
363
3,198
2,203
202
375
580
28, 989
9,446
5 574
5 157
417
3 040
2 041
3 838
2 632
4 056
2 778
'268
4,307
2,966
258
533
627
29,386
4 145
2 862
4,060
4 479
3 064
4,186
2 877
10 721
23, 473
69 113
29, 589
6,409
223
390
514
29,289
9,597
5,607
5,172
435
931
6 195
5 801
2 053
2
6
5
2
282
464
550
28,916
9,377
5,518
5,099
419
073
017
623
070
512
563
29, 442
9,575
5,572
5,145
427
1,002
951
6 704
2 307
6 147
2 185
2,273
6,284
9,481
5,516
5,102
414
2 184
6 418
5 992
2 223
2
6
6
2
5*733
244
514
596
29,371
9,545
5,634
5,220
414
2 775
992
969
430
666
234
210
2,199
6 125
5 712
2 060
245
506
632
29,090
270
546
539
29,346
9,141
5,419
5,011
9,161
5,412
5,013
408
399
274
492
577
29,259
9,384
5,665
5,272
393
'986
'978
'2,255 ' 2, 142
'6 593 '6 373
'6,168 '5 964
' 2 119 '2 042
'4,583 ' 5, 147
'3,126 '3 526
'338
'408
'538
588
'611
631
'29,620 '29,548
'9,354 '9,251
5,570
'5,638
5,183
'5,238
'400
387
i 1 404
i 2 247
i g 879
i 6 411
i 2 137
i 7 867
i 5 465
129,581
19,291
1,436
1,352
1,364 '1,358
1,409
1,380
1,343
1,433
1,459
1 360 1 357 1 402 1,434
902
922
842
841
847
'825
852
903
895
920
852
876
853
455
'436
400
424
417
429
445
436
478
431
Household appliance, TV, radio
do
428
429
446
1,224
1,173
1,184
1,261
1,185
1,190
1,190
1,261
1,234
Lumber building hardware group
do
1 191 1 204 1 219 1,330
943
992
'906
912
905
925
974
899
951
1,049
Lumber bldg materials dealers & do
958
911
937
281
272
269
'267
280
291
265
281
287
283
261
Hardware stores
do
280
267
Nondurable goods stores 9
do
19, 492 19, 109 19,543 19, 692 19,539 19, 867 19,905 19, 826 19,949 20,185 19,875 '20,266 '20,297 120,290
1,662
1,613
1,665
1,676
'
1,
719
1,700
1,746
1,660
1,738
1,702
Apparel group
do
1 652 1 571 1,640
393
'401
399
390
400
414
375
388
375
416
Men's and boys' wear stores
do
406
371
387
615
633
652
625
640
653
645
658
649
622
Women's apparel, accessory stores do
645
642
589
266
245
312
'314
316
266
332
296
306
Shoe stores
do
249
261
272
263
place groups. Revisions for total retail sales, durable and nondurable totals, and selected
' Revised.
° Monthly revisions for Jan.-Dec. 1968 will be available later.
i Advance
lines of trade for 1961-67, unadj., appear on p. 22 ff. of the Nov. 1968 SURVEY; those for
estimate.
0Unadj. and seas. adj. (see p. S-5) wholesale inventories have been revised
seas. adj. data appear on p. 52 of the May 1969 SURVEY.
Further details appear in the
back to Jan. 1967; data prior to Aug. 1968 are available from the Bureau of the Census.
Census Bureau Monthly Retail Trade Report, Aug. 1968. 9 Includes data for items not
{Series revised to refect a new sample of retailers. The most important difference between
shown separately.
this and the old sample is accounted for by the genera^ merchandise group which now
d*Comprises lumber yards, building materials dealers, and paint, plumbing, and electrical
includes all non-stores, i.e., mail order houses, merchandising machine operators, and
direct selling establishments. Formerly, many non-store establishments were classified
stores.
§ Except department stores mail order.
outside of the general merchandise group, particularly in the food and eating and drinking
Furniture and appliance group 9
do
January 1970
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated, statistics through l%fi
and deseriotfve notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
1969
1968
Annual
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept. 1 Oct. j Nov.
994
2,110
6,275
5,863
2,080
1.013
2,150
6,429
6.006
2,075
1,019
2,173
6,326
5,907
2,089
' 1,007
'2,219
'6,450
'6,035
'2,090
Dec.
DOMESTIC TRADE—Continued
RETAIL TRADEJ— Continued
All retail storesf— Continued
Estimated sales (seas, adj.)— Continued
N endurable poods stores — Continued
Drug and proprietary stores
mil. $__
Eating and drinking places _ .
__do
Food group
do
Grocery stores
_
_ _ _ do _
Gasoline service stations
do
General merchandise group with nonstores 9
mil $
General merchandise group without nonstores 9 §
mil $
Department stores
do
Mail order houses (dept. store mdse.)do _
Variety stores. ._ _
do
Liquor stores
do
Estimated inventories, end of year or month :1
Book value (unadjusted), total
.
mil. $_
Durable goods stores 9
do
Automotive group
do
Furniture and appliance group
do
Lumber, building, hardware group. _do
Nondurable goods stores 9
do
Apparel group
_ do _
Food group
.do
Generalfi merchandise group with nonstor s
mil. $
Department stores
do
Book value (seas, adj.), total—
do
Durable goods stores 9
do _
Automotive group
do
Furniture and appliance group
do
Lumber, building, hardware group... do
Nondurable goods stores 9
do
Apparel group
do
Food group
do
General merchandise group with nonstores
mil. $
Department stores
_ _ do _
Firms with 11 or more stores :t
Estimated sales (unadj.), total 9
do
Apparel group 9
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 and appliance group
do
General merchandise group with nonstores 9
mil. $
General merchandise group without nonstores §
mil $
Dept. stores, excl. mail order sales
do
Variety stores
__do_
Grocery stores
..do __
Tire, battery, accessory dealers
do
Estimated sales (seas, adj.), total 9 .
do
Apparel group 9
... .
_ 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
General merchandise group with nonstores 9
mil. $
General merchandise group without nonstores §
.
mil. $
Dept. stores, excl. mail order sales
do
Variety stores
.
do
Grocery stores.*.
do
Tire, battery, accessory dealers _ _
do
All retail stores, accounts receivable, end of yr. or mo.: t
Total (unadjusted) t—
mil $
Durable goods stores..
do
Nondurable goods stores
do
Charge accounts _
do
Installment accounts..
do
Total (seasonally adjusted) t
do
Durable goods stores
do
Nondurable goods stores
do
Charge accounts
__
do
Installment accounts
do
944
2,128
6,235
5, 817
2,064
969
2,062
6,139
5,744
2,052
979
2,094
6,315
5,909
2,097
959
2,123
6,346
5,955
2,091
4,729
4,577
4,601
4,694
4, 259
2,925
293
522
601
4,168
2,877
275
505
565
4,176
2,861
273
535
634
4,273
2,924
298
534
603
,017
2,255
6,472
6,055
2,067
963
2,133
6,244
5,839
2,106
996
2,186
6,312
5,906
2,119
4,637
4,920
4,844
4,857
5,019
5,000
4,864
'5,000
5,003
4,211
2,895
296
517
601
4,468
3,080
294
558
619
4,397
3,011
285
546
615
4,398
2,991
294
552
627
4,556
3,143
287
560
642
4,524
3,117
285
554
640
4,362 ' 4, 486
2,988 '3,065
'302
281
526
'553
617
'618
4,493
3,093
294
549
606
960
2,107
6,284
5,883
2,132
975
2,191
6,278
5,868
2,086
38,045
16,832
7,284
2,825
2,575
21,213
4,178
4,290
41,346
18,846
8,758
3,029
2,797
22,500
4,536
4,511
43,815 41,346
18,866 18,846
8,437 8,758
3,158 3,029
2,790 2,797
24,949 22,500
5,145
4,536
4,651 4,511
41,544
19, 581
9,387
3,014
2,841
21,963
4,402
4,536
42, 597
19,884
9,575
3,010
2,926
22, 713
4,695
4,503
43,744
20, 326
9,774
3,105
3,005
23,418
4,899
4,578
44,237
20,548
9,938
3,127
3,046
23,689
4,925
4,575
43, 948
20, 132
9,643
3,075
3,012
23, 816
4,902
4,627
43,753
20,149
9,735
3,036
2,980
23,604
4,826
4,627
43,688
19,802
9,425
3,075
2,902
23,886
4,873
4,624
43,015
18, 516
8,051
3,105
2,878
24,499
5,204
4,620
44,284
18,995
8,569
3,124
2,856
25, 289
5,344
4,676
45, 849
19, 508
8,966
3,210
2,837
26, 341
5,387
4,794
46,969
20,036
9,385
3,311
2,832
26, 933
5,511
4,896
8,304
4,717
39,318
17,403
7,425
2,927
2,666
21, 915
4,384
4,273
9,237
5,286
42,657
19,461
8,919
3,139
2,898
23,196
4,760
4,493
10, 810
6,116
42,488
19,361
9,121
3,019
2,798
23, 127
4,694
4,555
9,237
5,286
42,657
19,461
8,919
3,139
2,898
23,1%
4,760
4,493
8,925
5,105
42, 740
19,622
9,105
3,136
2,908
23,118
4,811
4,554
9,403 9,783
5,384
5,615
43, 014 43,004
19, 487 19,542
8,974 9,008
3,113 3,146
2,974 2,955
23, 527 23,462
4,880 4,909
4,548 4,569
10, 013
5,752
43, 118
19, 567
9,084
3,102
2,966
23,551
4,910
4,552
10, 141
5,782
43, 025
19,044
8,711
3,042
2,924
23, 981
4,972
4,641
9,982
5,686
43,438
19,365
9,047
3,015
2,927
24, 073
5,038
4,646
10,194
5,824
43, 874
19, 358
9,011
3,078
2,908
24, 516
5,092
4,694
10, 431
5,979
44,322
19, 756
9,394
3,108
2,898
24, 566
5,097
4,695
10,946
6,284
44,806
20, 079
9,738
3,072
2,867
24, 727
5,037
4,704
11, 735
6,787
45, 378
20,564
10,154
3,113
2,851
24,814
4,970
4,686
11, 952
6,962
45,537
20, 602
10, 146
3,165
2,841
24, 935
5,028
4,795
8,900
5,018
9,806
5,576
9,624
5,337
9,806
5,576
9,653
5,598
9,924
5,746
9,859
5,683
9,975
5,735
10, 275
5,876
10,274
5,904
10,488
6,029
10,483
6,027
10, 525
6,025
10,633
6,060
10,632
6,075
• 94, 194
5,186
767
1,837
1,335
3,373
2,122
1,303
9,015
492
85
176
116
275
184
117
11, 179
721
119
266
151
433
175
135
7,282
351
59
123
85
273
177
86
6,776
307
46
113
76
253
167
87
7,918
441
57
158
117
279
194
89
8,126
479
63
167
120
283
212
114
8,755
468
66
169
127
315
212
128
8,198
462
68
159
136
293
218
129
8,249
412
53
150
113
311
210
123
8,786
503
65
176
149
328
224
115
8,274 ' 9, 041 9,258
'531
505
540
70
'85
95
'192
178
186
' 139
155
147
315
'318
321
'231
229
216
'115
113
114
38,395
3,920
5,692
2,522
2,397
3,028
3,243
3,401
3,282
3,251
3,532
3,320
'3,636
4,058
35,708
26,184
4,821
0
34, 295
1,736
3,661
2,676
468
3,181
161
8,143
442
69
158
115
275
190
5,400
3,972
792
3,088
177
8,080
419
63
153
103
281
177
2,338
1,732
294
3,110
124
8,295
454
68
168
104
301
188
2,213
1,607
307
2,861
113
8,413
457
67
167
108
291
187
2,823
2,074
373
3,080
135
8,340
443
65
159
106
291
194
3,017
2,211
416
2,909
163
8,588
502
70
177
114
298
214
3,163
2,346
428
3,303
171
8,482
462
67
163
122
320
205
3,052
2,275
410
2,903
180
8,551
487
68
171
138
299
206
3,028
2,238
401
3,072
173
8,693
505
67
181
140
327
202
3,315
2,471
432
3,244
147
8,718
519
78
181
150
337
215
3,084
2,292
390
2,955
134
8,578
514
80
182
150
341
226
'3,379
' 2, 478
'429
'3,303
'159
'8,822
'514
'79
'183
'142
'332
'228
3,798
2,797
476
3,148
140
8,740
501
80
172
150
327
225
3,332
3,364
3,302
3,393
3,330
3,556
3,452
3,407
3,603
3,553
3,432 '3,559
3,529
3,168
2,326
439
3,088
164
3,379
2,501
450
3,094
162
3,338
2,493
439
3,146
146
3,199 '3,316
2,360 '2,432
'440
418
3,120 ' 3, 197
'158
143
3,276
2,415
436
3,199
137
19,806
7,189
12, 617
8,423
11,383
19,695
7,003
12, 692
8,186
11, 509
19,566
7,151
12,415
8,223
11,343
19,824
7,069
12,755
8,187
11,637
19,634
7,122
12, 512
8,228
11, 406
19,849
6,988
12,861
8,240
11,609
19,734
7,134
12,600
8,285
11, 449
19, 996
7,026
12, 970
8,324
11, 672
19,788
7,146
12,642
8,328
11,460
19,930
6,989
12,941
8,200
11,730
20,630
7,140
13,490
8,677
11,953
19, 378
6,941
12,437
8,317
11,061
3,088
2,262
416
2,992
153
3,126
2,320
405
2,975
137
3,092
2,264
430
3,061
156
3,177
2,339
430
3,127
154
3,109
2,297
412
3,095
152
3,325
2,440
449
3,021
160
3,220
2,367
439
3,039
154
19,285
7,020
12,265
8,296
10,989
19,186
6,958
12,228
8,150
11,036
20,630
7,140
13,490
8,677
11,953
19, 378
6,941
12,437
8,317
11,061
19,746
6,790
12,956
8,173
11, 573
19,381
6,907
12,474
8,274
11, 107
19,353
6,730
12, 623
7,950
11, 403
19. 741
7,068
12, 673
8,389
11, 352
19,230
6,732
12,498
8,058
11, 172
19,665
7,040
12,625
8,388
11, 277
19,427
6,865
12,562
8,257
11, 170
19, 746
7,096
12,650
8,368
11,378
19, 734
6,964
12, 770
8,459
11, 275
19, 771
7,001
12, 770
8,280
11,491
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, incl. armed forces overseas
mil.. 1 199. 11
202.25
202.40
202.55
202.71
202.88
203. 05
203.22
203.40
203.61
203.82
204.01
204.18
80,793 82,272 82,702 82, 618 81, 711
77,347
78, 737 79, 185 79, 118 78,234
74, 372
75, 920 76*609 76*700 75*358
72, 103 73^001 73,421 72, 192
70,528
3,607
3,165
3,844
3,817
3,279
2,577
2,876
2,975
2,817
2,419
'Revised.
« Monthly revisions for Jan.-Dec. 1968 will be available later.
1 As of July 1.
j bee corresponding note on p. S-ll (beginning Aug. 1968, accounts receivable data reflect
introduction of the new sample; no comparable data are available for earlier periods).
9 Includes data not shown separately. § Except department stores mail order.
~ '
82, 579
79,104
76*. 181
72, 896
3,285
2,923
82,770 83,137
79,266 79 621
76* 520 77*079
73,193 73! 471
3,327 3,607
2,746 2,542
83,085
79,563
77,264
73,370
3,894
2,299
85,880
82,356
78* 956
74,589
4,367
3,400
86,318
82, 797
79, 616
75,460
4,155
3,182
86,046
82, 516
79,646
75,669
3,977
2,869
84, 527
80, 984
78,026
74, 397
3,629
2,958
85,038
81, 510
78, 671
75, 110
3,561
2,839
84,920
81, 427
78, 716
75, 395
3,322
2,710
84,856
81, 416
78,788
75,805
2,984
2,628
LABOR FORCE
Labor force, total, 16 years of age and over
Civilian labor force
Employed, total
Nonagricultural employment
Agricultural employment
Unemployed (all civilian workers)
thous..
do
do
do
do
do .
i 201. 15
201. 93
202. 10
revised to reflect benchmarking to the levels of the 1966 and 1967 Annual Retail Trade Reports
and to conform to the definitions of the new retail sales sample; revised data back to 1961
appear on p. 22 ff. of the Nov. 1968 SURVEY.
SURVEY OF CURRENT BUSINESS
January 1970
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
196S
Annual
S-13
1969
1968
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.*
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
LABOR FORCE— Continued
Seasonally Adjusted
Civilian labor forcet
Employed, total
Nonagricultural employment
Agricultural employment
thous
do
_ do_ __
do
79,042
76,388
72,682
3,706
79,368
76, 765
72,923
3,842
79,874
77,229
73,477
3,752
80,356
77,729
73,848
3,881
80,495
77, 767
74,035
3,732
80,460
77,605
73,941
3,664
80,071
77,265
73,460
3,805
80,433
77, 671
73,966
3,705
80,756
77, 874
74,323
3,551
81,054
78, 187
74,563
3,634
81,369
78,127
74,669
3,468
81,486
78,326
74,993
3,332
81,296
78,497
75,068
3,429
81,689
78,779
75,274
3,506
449
412
2,654
348
2,603
322
2,645
316
2,627
346
2,728
365
2,845
393
2,806
409
2,762
383
2,882
419
2,867
382
3,232
389
3,161
370
2,798
384
2,810
382
3.8
2.3
4.2
12.9
3.6
2.2
3.8
12.7
3.4
2.0
3.5
12.2
3.3
1.8
3.5
12.7
3.3
2.0
3.5
11.7
3.3
1.9
3.5
11.7
3.4
1.9
3.5
12.7
3.5
2.0
3.8
12.8
3.5
2.0
3.7
12.5
3.4
2.0
3.7
11.6
3.6
2.2
3.7
12.2
3.5
2.1
3.8
12.5
4.0
2,4
4.2
13.2
3.9
2.4
4.0
13.0
3.4
2.2
3.5
11.6
3.4
2.2
3.4
11.9
1.8
7.4
3.4
1.6
6.7
3.2
1.6
6.5
3.0
1.4
6.0
3.0
1.4
6.0
3.0
1.4
5.7
2.9
1.4
6.0
3.1
1.5
6.9
3.1
1.5
6.5
3.1
1.5
7.0
3.0
1.6
6.4
3.2
1.5
6.5
3.2
1.7
6.8
3.6
1.7
6.9
3.5
1.5
6.2
3.1
1.6
5.5
3.2
2.2
4.4
2.0
4.1
2.0
3.9
1.9
3.6
1.9
3.8
1.9
3.6
2.0
3.7
1.8
4.1
1.9
3.8
2.1
3.7
2.2
3.8
2.2
3.8
2.2
4.4
2,4
4.3
2.1
4.2
2.1
4.3
3.9
7.3
3.7
3.4
3.6
6.9
3.3
3.0
3.4
6.5
3.2
3.1
3.3
5.4
2.8
2.6
3.4
5.5
3.2
2.7
3.3
5.5
2.9
2.4
3.4
6.2
3.1
2.7
3.6
6.2
3.2
3.0
3.5
5.5
3.1
2.9
3.5
5.0
3.3
3.3
3.6
5.7
3.2
3.2
3.6
7.4
2.9
2.3
4.0
7.6
3.7
3.3
3.8
7.3
3,7
3.3
3.6
5.6
3.8
3.7
3.5
5.6
3.7
3.7
65, 857
67,860
69,248
69, 805
68,196
68,403
68,894
69,462
69,929
70,980
70,347
70,607
70,814 '71,198 '71,244
71,688
65, 857
613
3,208
19, 447
11, 439
67,860
610
3,267
19,768
11, 624
68,664
622
3,313
19, 897
11,700
68,875
623
3,330
19,958
11,744
69,199
626
3,338
19, 999
11, 819
69,487
628
3,366
20,061
11,839
69, 710
626
3,374
20,122
11,881
69,789
624
3,363
20,111
11,868
70,013
622
3,407
20,118
11,874
70,300
622
3,466
20,198
11, 931
70,247
629
3,434
20,164
11,912
70,600
631
3,410
20,334
12,081
70,639
636
3,446
19,988
11, 732
317
597
455
628
1,322
1,363
1,970
342
598
474
637
1,314
1,394
1,961
347
600
484
652
1,300
1,420
1,974
351
603
485
658
1,313
1,426
1,971
349
606
490
664
1,321
1,437
1,981
346
607
494
666
1,330
1,444
1,997
346
608
494
664
1,332
1,451
1,993
343
604
496
658
1,326
1,450
1,999
342
610
496
656
1,333
1,453
1,999
337
607
496
662
1,347
1,456
2,010
332
600
491
658
1,348
1,456
2,007
325
598
493
659
1,361
1,465
2,005
70,390 '70,661 '70,653
'632
'631
631
3,420 '3,418 '3,460
'20,018
20,156
20,197
11,965 '11,932 '11,758
'304
'306
314
'590
'689
595
'487
'491
492
664
'662
660
1,378 '1,381 '1,379
1,468 '1,466 '1,467
2,020 '2,030 ' 2, 015
Electrical equip, and supplies
do
1,959
Transportation equipment
do
1,949
Instruments and related products
do
451
Miscellaneous manufacturing ind .do .
428
Nondurable goods _ _
do
8,008
Food and kindred products
do
1,786
Tobacco manufactures.
do
87
Textile mill products
do
959
Apparel and other textile products.. -do
1,398
Paper and allied products
do
679
Printing and publishing _
do
1,048
Chemicals and allied products _ _
do
1,001
Petroleum and coal products
do
183
Rubber and plastics products, nee.. .do
516
Leather and leather products
do
351
Transportation, communication, electric, gas,
and sanitary services..
thous. . 4,261
Wholesale and retail trade..
.do
13,606
Wholesale trade _
...
do
3,525
Retail trade
do
10, 081
Finance, insurance, and real estate
do
3,225
Services
do
10,099
Government
do
11, 398
Federal..
do
2,719
State and local . .
do
8,679
Production workers on manufacturing payrolls:
Total, not seasonally adjusted tl
thous.. 14,308
1,982
2,028
460
435
8,144
1,781
84
991
1,408
693
1,063
1,026
187
557
356
1,988
2,031
465
439
8,197
1,781
82
997
1,412
704
1,072
1,038
188
567
356
1,996
2,031
465
445
8,214
1,789
81
998
1,412
706
1,074
1,040
189
571
354
2,013
2,045
466
447
8,180
1,792
84
1,000
1,424
709
1,076
1,040
128
573
354
2,026
2,020
468
441
8,222
1,801
82
999
1,409
713
1,077
1,044
170
577
350
2,036
2,042
470
445
8,241
1,793
83
995
1,417
714
1,078
1,045
187
579
350
2,046
2,029
472
445
8,243
1,795
81
991
1,425
710
1,078
1,044
190
579
350
2,058
2,009
474
444
8,244
1,793
82
987
1,426
714
1,075
1,046
190
581
360
2,063
2,035
473
445
8,267
1,789
81
990
1,429
717
1,083
1,055
191
684
348
2,070
2,032
471
447
8,252
1,787
81
988
1,423
716
1,084
1,054
191
585
343
2,076
2,183
473
443
8,253
1,797
83
979
1,414
718
1,089
1,052
190
586
345
2,075
2,054
469
440
8,232
1,791
80
979
1,412
718
1,093
1,051
189
583
336
2,076
'2,030
469
'442
'8,224
'U77
78
'977
'1,410
'720
1,099
' 1,060
191
'683
339
'1,956
'1,997
'469
'440
'8,260
'1,806
78
'979
'1,408
'722
'1,103
'1,054
'192
680
338
1,964
1,965
466
456
8,266
1,787
77
982
1,417
722
1,100
1,066
194
680
341
4,313
14,081
3,618
10,464
4,352
14,291
3,669
10,622
4,360
14, 271
3,678
10, 593
4,353
14, 412
3,701
10, 711
4,373
14,468
3,714
10,754
4,399
14,508
3,726
10,782
4,439
14,533
3,737
10,796
4,444
14,609
3,768
10,851
4,467
14,665
3,774
10, 891
4,483
14,671
3,773
10,898
4,484
14, 702
3,776
10,926
4,480
14, 716
3,787
10,929
'4,480
'14,809
'3,807
'11,002
'4,488
'14,823
'3,817
'11,006
4,493
14,785
3,837
10,948
3,383
10,592
11,846
2,737
9,109
3,453
10, 787
11,949
2,709
9,240
3,463 3,490
10,838 10,900
12,032 12,081
2,724 «2,760
9,308 « 9, 321
3,502
10,967
12, 122
2,767
9,355
3,515
11,034
12, 132
2,759
9,373
3,531
11,044
12,144
2,758
9,386
3,541
11,066
12,207
2,754
9,453
3,557
11,066
12, 259
2,790
9,469
3,568
11,067
12,231
2,777
9,454
3,581
11,120
12,238
2,752
9,486
3,586
11,150
12,210
2,749
9,461
' 3, 595
'11,244
'12,318
'2,729
'9,589
'3,610
3,615
11,265 11,288
'12,357 12,388
' 2, 721 2,713
'9,636
9,675
14,505
14,741
14, 701
14,584
14,644
14,604
14,624
14,923
14,665
14, 971
14,997
Unemployed (all civilian workers)
.do
Long-term, 15 weeks and over
do
Rates (unemployed in each group as percent
of total in that group) :J
All civilian workers
Men 20 years and over
Women, 20 years and over. .
Both sexes, 16-19 years
Married men*
Negro and other races*
White workers*
..
Occupation* White-collar workers*
Blue-collar workers*
Industry (nonagricultural):
Private wage and salary workers*
C onstruction*
Manufacturing*
.
Durable goods*
EMPLOYMENT
Employees on payrolls of nonagricultural estab.:t1
Total, not adjusted for seasonal variation. -thous..
Seasonally Adjusted
Total
Mining
.
Contract construction
Manufacturinj?
Durable goods
.
Ordnance and accessories.
Lumber and wood products
Furniture and
fixtures
Stone, clay, and glass products.
Primary metal industries
Fabricated metal products .
Machinery, except electrical
Seasonally Adjusted
thous..
do
do _ .
do
do
do
do
do
do
do
do
do
14,509
Totalt
thous
14,308
14,505 14,594 14,635 14,684
Durable goods
do
8,364
8,456 8,505 8,536 8,606
195
Ordnance and accessories
do
174
195
192
196
524
Lumber and wood products
do
520
519
528
519
402
Furniture and
fixtures
do
400
375
392
407
530
Stone, clay, and glass products.
do
524
534
500
510
1,044
Primary metal industries
do
1,060
1,031
,046
1,051
1,100
Fabricated metal products
do
1,054
1,095
1,109
,075
Machinery, except electrical
do. .
1,346
1,354
,341
1,359
1,369
Electrical equipment and supplies.
do
1,330
1,324
1,344
1,322
,324
Transportation equipment
do
1,427
1,430
1,371
,433
1,439
Instruments and related • roducts
do
282
287
284
287
288
Miscellaneous manufacturing ind
do
351
341
345
351
338
Nondurable goods
do
5,944
6,049 6,089 6,099 6,078
Food and kindred products
do
1,202
1,194
1,191
1,187
1,205
Tobacco manufactures
do
69
74
71
70
71
Textile mill products...
do
850
883
878
883
885
Apparel and other textile products. .. .do ..
1,242
1,243
1,254
1,237
1,245
' Revised.
* Preliminary.
* New series. Morithly data for earlie r years a re availa ale.
t Effective with the Mar. 1969 SURVEY, labor fore B data refl ect new &easonal J actors; c omparable data for earlier months appear in the Feb. a nd Mar. 1969 issues of Empl oyment iind
Earnings (USDL, Bureau of Labor Statistics).
^Effective with the Sept. 1967 SURVEY, additional series (uilemploym ent rate,3, season?illy
adjusted production workers, hours, man-hours anc man-hou r indexes private sector deita,
and spendable earnings) are shown; these are not in the 1967 edition of ] BUSINESS STATIST [CS.
14,918 '14,750
298
590
488
666
1,369
1,460
2,023
14,645
14, 731 14,771 14, 739 14,740 14,811 14,772 14,922 14, 772 '14,732 '14,603 14,582
8,668 8,823 8,701 '8,674 '8,509
8,628 8,654 8,634 8,630 8,687
8,491
192
188
'167
187
181
168
197
193
173
195
160
530
'510
528
520
518
609
516
528
525
527
510
412
411
'404
410
408
410
408
410
413
408
405
526
532
'530
527
'531
526
535
529
537
529
531
,097
1,062
1,076
1,087
1,077
1,063
1.106 '1,109 ' 1, 105
1,058
,057
,122
1,122
1,121
1,117 ' 1, 117
1,122
1,128
1,121
1,127
1,115
,118
,379
1,366
1,377
1,387 ' 1, 374
1,369
1,366
1,380
1,370
1,363
1,370
,272
1,379
1,389 '1,276
1,381
1,387
1,388
1,383
1,364
1,355
,369
,373
1,434
1,582
1,399
1,430
1,447 '1,423 '1,398
1,432
1,426
1,420
'287
285
292
292
294
288
292
291
289
292
289
'341
357
348
'345
347
350
345
343
346
349
348
6,091
6,124
6,104
6,071 ••6,058 '6,094
6,110
6,099
6,103
6,117
6,105
1,200
1,201
1,197
1,204
1,206
1,199 ' 1,185 ' 1, 215
1,215
1,208
1,205
65
64
70
67
65
69
69
68
69
69
68
'862
863
862
'860
873
863
873
871
880
883
875
'1,237
1,245
1,242
1,238
1,255
1,255
1,239
1,248
1,246
1,252
1,238
HBeginning i n the Jul y 1969 SiJRVEY, p ayroll eniploymerit and earnings daita reflec , adjustment to more recent \)enchmairks and updated seasonal factors; compara ble earli er data,
except man-ho urs and inan-houir indexes will ap][>ear in B LSBull itin 1312--7, EMPL OYMENT
AND! ARNINGS , UNITEI:> STATES ,1909-69 to be av ailable s son from the Gov 't. Print ing Off.,
"Beginn ing Jan. 1969, fe deral eniployme at inclu(ies abou t 39,000
Wash, , D.C. 20402.
civilia n techni 3ians of t he Natio nal Guar dwhow ere transferred frc m State to federa 1 status.
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
| 1968
1969
1968
Nov.
Annual
January 1970
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.'
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT— Continued
Seasonally Adjusted
Production workers on manufacturing payrollsContinued
Nondurable goods industries— Continued
Paper and allied products
_
thous
Printing and publishing
do
Chemicals and allied products..
_do
Petroleum and coal products
do
Rubber and plastics products, nee
_ . do
Leather and leather products
. . do
526
662
592
115
397
304
537
665
608
118
431
306
546
670
616
119
439
307
549
671
617
119
441
305
550
673
617
73
444
306
555
672
620
101
448
302
555
673
620
116
449
301
549
672
617
118
449
300
554
669
617
118
451
300
556
674
623
119
455
299
555
675
620
119
455
294
557
676
619
118
454
296
557
678
614
117
451
287
••557
••683
613
118
450
'289
'558
'684
617
119
'448
289
559
684
619
120
446
291
42.6
37.7
40.6
42.7
37.4
40.7
3.4
41.2
3.5
41.7
40.2
40.4
41.6
41.1
41.5
42.6
40.2
41.4
41.3
39.4
3.6
41.4
3.8
41.5
40.6
40.6
41.8
41.6
41.7
42.1
40.3
42.2
40.5
39.3
43.2
36.2
40.9
40.8
3.8
41.6
4.0
41.4
40.6
40.5
41.8
41.4
42.1
42.3
40.3
42.3
40.7
39.2
43.3
37.6
41.1
40.8
3.7
41.3
3.9
41.3
41.1
40.5
42.0
41.6
41.7
42.2
40.2
41.8
40.5
39.0
43.3
38.2
40.4
40.6
3.8
41.3
3.8
40.0
40.0
40.6
41.8
41.7
41.8
42.5
40.4
41.4
40.7
39.2
43.3
38.0
40.0
40.1
3.5
40.9
3.8
40.3
40.8
40.1
42.2
41.6
41.2
42.3
39.7
41.6
39.7
37.6
42.8
37.9
40.7
40.9
3.7
41.5
3.9
40.8
40.9
40.7
42.3
41.9
41.9
42.7
40.7
41.6
40.7
39.0
43.8
38.0
40.5
40.8
3.7
41.4
3.8
40.9
40.2
40.9
42.0
41.8
41.8
42.6
40.9
41.5
40.8
39.5
43.4
38.1
40.7
40.7
3.6
41.4
3.8
40.6
40.3
40.9
42.1
41.7
41.6
42.6
40.6
41.1
40.8
39.1
42.0
37.6
40.9
40.7
3.6
41.3
3.9
40.9
40.2
40.7
41.9
41.7
41.8
42.5
40.6
41.6
40.9
39.2
42.6
37.5
40.5
40.7
3.6
41.2
3.8
40.2
39.7
40.1
41.7
41.5
41.6
42.2
40.3
42.3
40.9
39.1
43.2
37.9
40.6
40.6
3.7
41.3
3.8
40.4
39.8
40.3
42.1
42.0
41.6
42.6
40.4
41.2
40.9
39.0
43.2
38.1
41.0
40.8
3.7
41.5
3.9
40.4
40.1
40.1
42.1
42.2
41.5
42.7
40.5
41.8
41.0
39.0
42.9
'37.5
40.7
40.5
3.5
41.2
3.7
'40.1
'40.0
39.9
41.7
42.2
'41.4
42.4
40.2
'41.3
40.7
'38.8
'43.4
'38.2
40.6
40.5
'3.5
41.1
'3.5
'40.5
'40.3
'39.9
'42.1
'41.6
'41.4
'42.4
'40.1
'40.5
'41.0
'38.8
43.6
38.2
40.9
40.6
3.4
41.2
3.4
40.3
40.8
40.1
42.0
41.5
41.8
42.5
40.2
41. G
41.7
38.8
39.7
3.1
40.9
38.6
40.9
36.0
39.8
3.3
40.8
37.8
41.2
36.1
39.7
3.4
40.6
37.5
41.1
36.0
39.9
3.4
40.9
37.1
41.2
36.1
39.8
3.6
40.6
37.2
40.6
36.2
39.1
3.2
40.7
36.6
39.9
35.2
39.9
3.4
40.9
36.5
40.9
36.0
39.8
3.4
40.9
36.4
41.1
36.0
39.8
3.4
40.8
38.1
41.0
36.1
39.8
3.4
40.7
39.5
41.2
36.2
39.7
3.4
40.6
38.2
41.2
36.0
39.6
3.4
40.9
37.2
40.9
35.9
39.7
3.3
41.0
37.4
40.8
35.8
39.5
'3.3
'40.5
'37.2
40.6
'35.7
39.5
'3.3
'40.7
'37.4
'40.8
'35.8
39.8
3.3
42.8
38.4
41.6
42.7
41.4
38.1
42.9
38.3
41.8
42.5
41.5
38.3
43.0
38.4
41.9
42.6
41.4
37.9
43.2
38.5
41.9
42.7
41.5
37.8
43.5
38.4
41.9
41.8
41.5
37.6
42.5
37.9
41.7
42.6
40.7
35.3
43.2
38.3
41.7
43.2
41.4
37.6
43.4
38.3
41.6
42.9
41.4
37.7
43.0
38.4
41.8
43.0
41.4
37.6
42.9
38.4
41.8
42.2
41.3
37.4
43.0
38.5
41.9
42.9
41.2
37.0
42.8
38.4
41.9
42.8
40.9
36.8
42.8
38.3
41.6
42.0
41.0
37.1
42.7
38.3
41.7
'42.6
'40.9
'37.3
'42.8
'38.3
'41.8
'42.7
40.8
'37.4
42.'
38.*
41. <
42. c
41.1
37.,
do
do
do
do ..
36.5
40.3
35.3
37.0
36.0
40.1
34.7
37.0
35.8
40.0
34.5
36.9
35.7
40.0
34.3
37.0
35.8
40.1
34.4
37.2
35.7
40.1
34.2
37.1
35.7
40.1
34.3
37.1
35.6
40.2
34.1
37.1
35.7
40.1
34.3
37.0
35.7
40.0
34.2
37.2
35.7
40.0
34.2
37.0
35.8
40.3
34.3
37.0
35.7
40.3
34.2
37.1
35.5
'40.3
'33.9
37.1
'35.5
'40.2
'34.0
'37.2
35.4
40.1
33. <
36. i
Seasonally Adjusted
Man-hours in nonfarm estab., all employees,
seasonally adjusted, annual ratefl
bil. man-hours ..
131.45
134. 62
135.83
136.19
137. 07
137.08
138.44
138.42
139. 15
139.43
139.45
140. 18
113.7
79.4
111.1
115.9
121.6
204.5
93.1
121.8
106.3
115.4
78.6
112.0
117.9
123.4
223.8
93.9
128.0
109.2
115.9
81.3
110.0
118.7
124.4
227.2
94.2
130.4
112.0
116.9
81.7
115.3
119.0
124.5
226.6
96.0
130.8
113.9
117.4
82.0
117.7
119.1
125.3
220.6
94.2
132.9
114.2
116.8
82.5
118.0
118.4
124.9
221.1
95.9
132.3
115.9
118.3
81.1
117.7
120.3
126.8
226.2
96.3
134.2
115.7
118.1
82.8
117.4
120.0
126.3
222.1
94.2
135.9
113.6
118.1
81.7
119.3
119.7
125.8
219.3
95.3
135.6
113.3
118.6
78.9
119.5
120.4
126.9
216.3
94.7
134.6
114.0
118.0
81.4
117.9
119.8
126.2
211.5
92.1
131.6
112.2
119.0
82.8
118.1
121.0
128.5
205.7
92.0
132.9
113.5
118.4
83.0
119.5
120.0
127.2
196.7
92.3
131.6
113.9
HOURS AND MAN-HOURS
Seasonally Adjusted
Average weekly gross hours per production worker
on payrolls of nonagricultural estab. :f1
Mining
hours
Contract construction
do
Manufacturing: Not seasonally adjusted — do
Seasonally adjusted
do
Overtime hours
do
Durable goods
..
do
Overtime hours
do
Ordnance and accessories. ..
do
Lumber and wood products
.
do
Furniture and
fixtures.
do
Stone, clay, and glass products
do
Primary metal industries.
do
Fabricated metal products
do
Machinery, except electrical
do
Electrical equipment and supplies
do
Transportation equipment
do
Instruments and related products
do
Miscellaneous manufacturing ind._
do ...
Nondurable goods
Overtime hours
Food and kindred products
Tobacco manufactures
_.
Textile mill products
Apparel and other textile products
do
do
do
do
do
do
Paper and allied products
do
Printing and publishing
do
Chemicals and allied products
. do
Petroleum and coal products . .
do ...
Rubber and plastics products, nee
do
Leather and leather products..
do
Wholesale and retail trade
Wholesale trade
.
Retail trade
Finance, insurance, and real estate
Man-hour indexes (aggregate weekly), industrial
and construction industries, totaltl
1957-59=100..
Mining
. do
Contract construction..
do ...
Manufacturing
do
Durable goodsdo
Ordnance and accessories
do
Lumber and wood products.
do
Furniture and fixtures . . . .
do . .
Stone, clay, and glass products.
do
139. 87 '139.80 '139.92
'117.3
'82.1
' 117. 6
' 119. 1
' 126. 0
' 189. 6
'90.8
131.0
113.3
'117.0
'83.2
' 121. 3
' 117. 9
' 123. 2
'190.3
'91.7
'129.7
' 114. 1
40. e
36.8
41. C
36.2
139. 75
117.1
84.1
121.'
118.
123.
181.^
92.
130. <
114.
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electrical equipment and supplies
Transportation equipment
Instruments and related products
Miscellaneous manufacturing ind
do ...
do
do
do...
do ...
do
do. . .
110.3
123.9
137.4
143.0
114.2
127.4
108.9
110.2
126.9
133.0
143.5
121.7
126.0
109.7
108.1
130.6
135.1
143.5
121.7
127.8
110.5
110.0
129.9
134.0
143.8
120.0
127.5
111.8
111.0
131.3
136.3
146.0
119.9
128.5
112.4
111.5
130.1
136.7
144.7
119.4
125.7
106.3
112.9
133.0
137.3
149.3
119.9
130.2
111.2
111.9
132.4
137.7
150.6
118.6
130.6
112.3
112.2
132.1
137.3
150.8
115.7
131.5
110.8
113.7
132.8
138.1
150.6
120.0
130.9
111.4
113.2
132.2
136.3
150.4
121.7
130.4
111.8
115.7
132.9
137.3
150.7
131.2
130.9
109.9
118.3 ' 118. 6 ' 116. 5
132.5 ' 131. 0 ' 131. 0
138.7 > r 137. 4
139.0
150.2 ' 137. 6
150.7
121.7 ' 118. 3 '113.9
128.5 '129.0
129.9
109.3 ' 108. 1
109.3
115.
132.
138.
137.
113.
130.
113.
Nondurable goods
Food and kindred products..
Tobacco manufactures
Textile mill products
Apparel and other textile products
do .
do...
do
do
do...
108.6
96.2
86.8
102.7
116.8
110.7
96.2
82.2
106.7
117.5
111.3
96.0
80.0
107.2
117.5
111.8
97.3
78.0
107.5
117.7
111.0
96.9
80.5
106.1
119.0
109.8
97.9
77.0
104.1
114.3
111.8
97.8
76.8
106.3
117.6
111.7
97.6
75.5
106.2
118.2
111.8
97.4
80.2
105.5
118.8
112.1
96.8
83.1
106.2
119.1
111.5
96.2
79.2
106.2
117.8
111. 2
97.5
79.4
104.3
116.9
110.6 '110.0 '111.0
97.3 '95.0 '97.9
76.4 '73.7 '74.1
103.9 '103.1 ' 103. 9
116.3 '115.9 ' 116. 1
111.
96.
71.
104.
118.
do. . .
do...
do .
do...
do._do ..
114.9
116.7
118.6
80.8
144.4
94.8
117.7
117.0
122.4
83.0
157.2
96.0
119.8
118.2
124.3
83.7
159.8
95.2
121.0
118.7
124.5
83.9
161.0
94.3
122.1
118.8
124.5
50.4
162.0
94.1
120.4
117.0
124.5
71.0
160.4
87.2
122.4
118.5
124.5
82.8
163.5
92.6
121.6
118.3
123.6
83.6
163.5
92.5
121.6
118.1
124.2
83.8
164.2
92.3
121.7
118.9
125.4
82.9
165.3
91.5
121.8
119.4
125.1
84.3
164.9
89.0
121.7
119.3
124.9
83.4
163.3
89.1
121.7 ' 121. 4
119.3 ' 120. 2:
123.1
123.0
81.2 '83.0
162.6 '161.9
87.1 '88.2
'124.2
'83.9
'160.7
'88.4
121.
122.
124.
85.
161.
89.
135. 89
154.95
114. 90
143. 05
164.56
122. 51
148. 52
159. 35
125. 97
151. 12
168. 81
127. 82
150. 15
168.09
126. 05
149. 60
166.90
124. 80
148. 54 154. 78 155.30 150.88 154.30
171.86 174.46 179.92 181. 34 183.91
129.65 129.20
127. 39 127.58 128.6
See corresponding note, bottom of p. S-13.
156.88
187. 77
129.51
157. 91 159. 71 !'158.67
192. 96 '190.08 :'183.65
132.84 '131.87 1 132.36
161.3
188.1
134.1
Paper and allied products.
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
'121.9
' 120. 4
WEEKLY AND HOURLY EARNINGS
Not Seasonally Adjusted
Average weekly gross earnings per production
worker on payrolls of nonagricultural estab. :tl
Mining
dollars
Contract construction
do
Manufacturing establishments..
do. . .
' Revised.
*> Preliminary.
tSee corresponding note, bottom of p. S-13.
SURVEY OF CURRENT BUSINESS
January 1970
1968
1967 | 1968
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
Annual
S-15
Nov.
1969
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec."
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WEEKLY AND HOURLY EARNINGS— Con.
Not Seasonally Adjusted— Continued
Avg. weekly gross earnings per prod, worker on
manufacturing payrolls— Continued tl
Durable goods
dollars
Ordnance and accessories- _.
do
Lumber and wood products
do
Furniture and fixtures
. .
do
Stone, clay, and glass products.
do...
123.60
132. 61
95.27
94.13
117. 31
132. 07
135. 71
104.34
100.28
124. 98
136. 36
138. 86
105. 73
103. 48
127. 49 i
137. 61
141.28
107. 16
105.32
128.21
136.04
135. 74
102. 56
101. 60
125. 36
135. 05
135.54
104.40
100.84
126. 38
137. 45
137. 23
107. 86
103.42
129. 27
137. 20
138. 11
106.13
103.46
131. 57
138.69
138. 85
109.08
105. 04
134. 41
139. 44
140. 76
110. 30
106.90
134. 41
137.83
136.91
108.78
104. 01
133.24
139.33
139.09
111.76
107. 71
136.75
143. 45 142.42 '142.14
141.69 ••141.05 '144.43
114.33 ••113.93 '113.32
109.08 108. 81 '108.81
138.45 137. 57 '138.09
144. 77
144. 43
114.09
110. 84
136. 59
137. 27
123. 67
135. 89
111.35
142. 42
117. 71
92.59
147.68
131. 77
141. 46
118. 08
155. 72
120. 69
98.25
149. 14 152. 67
137. 05 ! 136.50
145.94 i 148.17
122.10 123. 62
165. 02 164.86
124. 75 125. 97
100.19 101. 14
154.66
134.96
147. 55
122. 51
160.19
124. 74
100.62
153.14
133. 01
148. 82
120. 69
157.03
123. 07
98.40
155. 82
136. 45
151. 36
123. 42
157. 38
126. 17
102. 05
157. 45
136. 21
150.80
122. 92
157. 44
125. 96
102.44
157. 13
138.03
151. 66
124. 34
158.18
127. 39
102. 96
157. 92
139. 86
151. 66
125. 36
160.58
129.15
103.88
157.66
136.78
148.39
122. 98
162.66
127.17
101.38
160.51
138. 86
149. 94
124.53
159. 17
128.61
103.22
162. 93 160.55 '159.39
142.72 ••141.36 '141.44
155.00 155. 61 '155.61
127.39 126. 45 '126.36
167.09 ' 165. 92 '164.77
131.84 131. 70 '133.49
104.66 ••105.32 '106.23
160. 61
144. 40
159. 10
129.34
168. 05
138. 51
107. 25
do
do
do
do...
do
102.03
107. 98
87.62
84.25
73.08
109.05
114. 24
94.12
91.05
79.78
111.72
116. 28
94.50
93.98
81.36
113. 08
117.96
96.14
94.85
81.36
111.50
117.27
93.03
92.11
81.40
110. 48
116. 40
95.21
90.57
79.90
113. 15
118. 08
94.70
93.66
83.13
113. 08
117. 89
95.94
92.92
81.85
114. 34
119. 77
103. 02
94.07
82.67
115. 31
120.25
111. 32
95.63
83.49
116. 22
122.36
104.43
95.65
82.21
116. 51
121. 30
94.50
97.99
83.85
118.00 117. 51 117. 91
123.73 '120.88 ' 122. 70
98.81 ' 96. 77 '98.74
98.81 98.57 '99.46
84.13 '83.77 '84.13
119. 60
124. 03
100.61
100.19
84.84
do
do
do
do
do
do
122.84
125. 95
128.96
152. 87
113.44
78.87
130. 85
133. 28
136. 27
159.38
121. 18
85.41
134. 78
136. 32
139. 86
161.88
124.68
86.03
136. 90
139. 65
141. 46
159. 56
126. 12
88.32
135. 14
136.06
140. 19
152. 40
124. 73
87.46
132. 19
136. 10
139. 86
161. 38
121. 30
83.18
135. 45
139. 03
140. 95
168.67
123. 30
87.28
135. 99
138.68
142. 46
174. 10
123. 82
85.78
137. 17
140.18
143. 72
174.50
125. 25
87.66
138. 46
141. 31
144. 63
170. 00
125. 97
88.83
140. 18
141.31
145.53
176.14
126.07
87.52
141.04
142. 82
145.53
171.60
126.69
87.19
142.99 142.33 '142.76
144. 75 144. 77 '144.77
146.78 147. 62 '148.75
172.10 ••173.36 '174.22
129.90 ••129.27 128.64
87.58 ••88.80 '90.88
143.09
149. 35
150.72
170. 89
130. 31
92.58
81.76
116.06
70.95
95.46
86.40
122.31
74.95
101. 75
87.33
124. 40
75.70
103.69
87.96
125. 74
76.47
104.99
88.40
124. 80
76.16
106.76
88.60
126. 08
76.39
107. 59
88.85
126. 40
76.61
107.22
88.96
127. 20
76.73
106.85
89.92
128.00
77.63
107. 30
91.55
129.92
79.35
108.70
93.08
130. 17
80.96
107.96
93.70
131.22
81.19
108.04
92.46 92.13 '92.58
132.59 ••132.59 '133.87
79.69 ••79.20 '79.30
108.41 ' 109. 07 '110.86
92.56
135. 27
79.69
109. 89
3.19
4.11
2 83
2.72
3.00
2.88
3.18
2.37
2.33
2.82
3.35
4.40
3 01
2.88
3.19
3.05
3.27
2.57
2.47
2.99
3.47
4.54
3.08
2.94
3.27
3.11
3.33
2.63
2.53
3.05
3.49
4.55
3.11
2.97
3.30
3.15
3.38
2.62
2.55
3.06
3.50
4.58
3.12
2.98
3.31
3.16
3.36
2.59
2.54
3.05
3.52
4.56
3.12
3.00
3.31
3.17
3.38
2.61
2.54
3.06
3.52
4.62
3.13
3.00 '
3.32
3.17
3.38
2.65
2.56
3.10
3.55
4.64
3.15
3.02
3.33
3.19
3.41
2.64
2.58
3.14
3.57
4.71
3.16
3.03
3.35
3.20
3.42
2.68
2.60
3.17
3.55
4.71
3.17
3.03
3.36
3.21
3.45
2.71
2.62
3.17
3.58
4.74
3 19
3.06
3.37
3.23
3.44
2.74
2.62
3.18
3.59
4.79
3.19
3.06
3.39
3.24
3.46
2.78
2.64
3.21
3.63
4.91
3.24
3.09
3.44
3.27
3.49
2.83
2.68
3.25
3.68 '3.69
'4.95 '4.95
••3.24 ' 3.26
3.10 '3.12
3.44
'3.45
3.29 '3.31
3.50 '3.54
2.82
2.84
2.68 '2.70
3.26 '3.28
3.70
4.99
3.28
3.15
3.48
3.34
3.54
2.81
2.71
3.26
do
do
do
do..
do
do
do .
3.34
2.98
3.19
2.77
3.44
2.85
2.35
3.55
3.16
3 36
2^93
3.69
2.98
2.50
3.62
3.24
3.45
3.00
3.82
3.05
2.53
3.67
3.25
3.47
3.03
3.87
3.08
2.58
3.70
3.26
3.48
3.04
3.86
3.08
2.60
3.69
3.26
3.51
3.04
3.83
3.10
2.61
3.71
3.28
3.52
3.04 i
3.82
3.10
2.61
3.74
3.29
3.54
3.05
3.84
3.11
2.62
3.75
3.31
3.56
3.07
3.83
3.13
2.64
3.76
3.33
3.56
3.08
3.86
3.15
2.65
3.79
3.32
3.55
3.09
3.91
3.14
2.64
3.84
3.33
3.57
3.09
3.93
3.16
2.64
3.87
3.39
3.63
3.13
3.95
3.20
2.67
3.85
3.39
3.67
3.13
3.96
3.22
••2.68
3.85
'3.40
'3.67
'3.12
'3.98
3.24
'2.71
3.87
3.43
3.70
3.17
4.03
3.29
2.75
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
2.57
2.47
2.64
2.27
2.06
2.03
2.87
3.28
3.10
3.58
2.74
2 07
2 24
2 88
2 01
2.58
2.74
2.63
2.80
2.49
2.21
2.21
3.05
3.48
3.26
3.75
2.92
2 23
2 40
3 05
2 16
2.75
2.80
2.69
2.85
2.52
2.27
2.26
3.12
3.55
3.33
3.80
2.99
2 27
2 46
3 11
2 22
2.81
2.82
2.70
2.87
2.55
2.28
2.26
3.14
3.59
3.36
3.79
3.01
2 30
2 45
3 12
2 21
2.83
2.83
2.72
2.91
2.57
2.28
2.28
3.15
3.59
3.37
3.69
3.02
2 32
2 49
3 12
2 24
2.87
2.84
2.73
2.91
2.63
2.27
2.27
3.14
3.61
3.37
3.87
3.01
2.33
2 51
3.16
2 26
2.90
2.85
2.74
2.93
2.66
2.29
2.29
3.15
3.63
3.38
3.95
3.00
2.34
2 51
3 16
2 26
2.89
2.87
2.76
2.94
2.68
2.30
2.28
3.17
3.64
3.40
4.03
3.02
2.35
2 52
3.18
2 27
2.88
2.88
2.77
2.95
2.74
2.30
2.29
3.19
3.66
3.43
4.03
3.04
2 35
2 54
3 20
2 29
2.90
2.89
2.77
2.94
2.79
2.31
2.30
3.22
3.68
3.46
4.00
3.05
2.35
2 55
3 24
2 30
2.93
2.92
2.80
2.97
2.77
2.35
2.29
3.26
3.68
3.49
4 04
3.09
2 34
2 55
3 23
2 30
2.91
2.92
2.79
2.93
2.52
2.39
2.31
3.28
3.70
3.49
4.00
3.09
2 35
2 56
3 24
2 30
2.92
2 95
2 82
2.96
2 54
2.41
2.35
3.31
3.75
3.52
4 04
3.13
2 38
2 59
3 29
2 33
2.93
2.96
2.83
2.97
2.52
2.41
••2.34
3.31
3.77
3.54
4.06
'3.13
2.40
2 61
3 29
r
2 35
'2.94
2.97
2.85
3.00
'2.64
2.42
'2.35
3.32
'3.78
'3.55
'4.08
3.13
'2.43
2.98
2.99
2.87
3.04
2.69
2.42
2.35
3.32
3.81
3.58
4.04
3.14
2 43
2 60
3 34
2 33
2.97
4.201
5 956
1.44
3. 466
4.321
6 150
4. 343
6 181
4.422
6 224
4.422
6 228
4.657
6 502
4.751
6 738
4.853
6 831
3.599
3.628
3.661
4.823
6 767
1.51
4.848
6 802
3.641
4.718
6 627
1.58
4.748
6 672
3.552
4.435
6 261
1.59
3.692
4.495
6 314
3.561
4.379
6 202
1.57
3 581
106 75
88 08
109 22
88 51
110 65
89 45
108 78
87 66
107 82
86 53
109 81
87 43
109 95
86 99
110 74
87 33
111 54
87 41
111 20
86 74
111 44
86 59
114 01 113 25 113 63
88 17 ' 87 25 87 07
115 03
87 61
Primary metal industries.
do
Fabricated metal products
_
do._.
Machinery, except electrical
do
Electrical equip, and supplies
..
do
Transportation equipment.
. . . do. . _
Instruments and related products
do
Miscellaneous manufacturing ind
do
Nondurable goods
Food and kindred products..
Tobacco manufactures
Textile mill products...
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
.
Rubber and plastics products, nee
Leather and leather products.
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
do ._
do
. . .do
do
Average hourly gross earnings per production
worker on payrolls of nonagricultural estab.rl
Mining
...dollars..
C ontrac t construe tio n
do
Manufacturing
do
Excluding overtime
do
Durable goods
do
Excluding overtime
do
Ordnance and accessories
do. .
Lumber and wood products
do
Furniture and
fixtures
do
Stone, clay, and glass products
do
Primary metal industries
.
Fabricated metal products
Machinery, except electrical
Electrical equip, and supplies
Transportation equipment
Instruments and related products.
Miscellaneous manufacturing ind._
Nondurable goods
.
Excluding overtime
Food and kindred products...
Tobacco manufactures
.
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products...
Rubber and plastics products, nee
Leather and leather products
Wholesale and retail trade
Wholesale trade
.
Retail trade
Finance, insurance, and real estate
Miscellaneous hourly wages:
Construction wages, 20 cities (ENR) : d"
Common labor.
$perhr
Skilled labor
do
Farm, without board or rm., 1st of mo
do
Railroad wages (average, class I)
..do
Spendable Weekly Earnings f 1
Spendable average weekly earnings per worker (with
three dependents) in manufacturing industries:
Current dollars §
Constant dollars § _..
1957-59 dollars
PRIVATE SECTOR SERIESJT
Not Seasonally Adjusted
Excludes government employees:1
Employees, total, nonagricultural estab
thous. .
Production or nonsupervisory workers
do
Hrs. (gross), av. weekly: Unadjusted-hours..
Seasonally adj.do
Weekly earnings (gross), average
dollars..
Hourly earnings (gross), average
do
1
3.884
5 528
1.33
3. 293
101 26
87 07
1
57,139 57,579 56,056
47, 464 47, 874 46, 359
37.5
37.5
37.8
37.6
37.6
37.8
101. 84
107. 73 109. 50 110.38 110. 25
2.92
2.94
2.68
2.85
2.92
v
« §lvisedPreliminary.
»Includes adjustments not distributed by months.
5 Effective Apr. 1968, data reflect income tax surcharge imposed by the Revenue and
Expenditure Control Act.
54, 459
45, 169
38.0
56, 015
46, 434
37.8
r 2 63
'3 33
r 2 36
56,159 56,615 57,188 57, 623 58,632 58,525 58, 877 58,734 '58,789 58,730 59, 009
46, 426 46, 824 47, 344 47, 732 48,648 48,504 48, 828 48, 718 '48,764 48,700 48, 976
38.2
38.0
37.7
37.2
37.6
37.5
38.0
37.5
37.7
37.7
38.1
37.6
37.6
37.5
37.8
37 8
37 8
37.8
37.8
37 5
37.8
37 8
110. 11 111.67 111.75 113.48 115. 14 115. 82 116. 51 117. 80 117.25 117.00 117. 25
3.10
3.11 ' 3. 12
3.04
3.05
2.96
2.98
3.03
3.11
2.97
3.01
fSee corresponding note, bottom of p. S-13.
^ See corresponding note, bottom of p. S-13.
cfWages as of Jan. 1, 1970: Common, $4.891; skilled, $6.903.
S-16
January 1970
SURVEY OF CUKRENT BUSINESS
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
Nov.
Annual
1969
1968
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HELP-WANTED ADVERTISING
Seasonally adjusted indexj
1957-69=100..
LABOR TURNOVER
Manufacturing establishments:
Unadjusted for seasonal variationrA
Accession rate, total
mo. rate per 100 employees..
New hires
_ __ _
do
Separation rate, total
__do
Quit
do
Layoff
do
Seasonally adjusted: A
Accession rate, total
do
New hires
do
Separation rate, total
do
Quit
..
_ do. .
Layoff
do
186
205
222
225
224
230
231
233
232
228
227
224
235
227
222
4.4
4.6
3.5
4.6
25
12
3.8
2.9
4.1
21
1.2
3.0
22
3.8
16
1.4
4.6
33
4.5
23
12
3.9
30
4 0
21
10
4.4
34
4 4
24
10
4.5
3.5
4.5
2.6
.9
4.8
3.8
4.6
27
.9
6.6
54
4.5
26
g
5.1
39
53
26
16
5.6
4.3
6.2
40
1.1
59
4 8
66
4 4
11
'4.9
4.0
5.3
r
29
'1.3
»3.6
P2.8
M.3
j>2 1
v 1. 4
4.6
3.5
4.5
2.6
1.1
4.7
3.7
4.2
2.5
1.1
4.9
38
4.6
2.7
1.1
4 6
37
4 8
2 7
1i
4.6
4 0
4 9
2 7
1.2
4.9
3.9
4.9
2.7
1.0
4.8
37
5.0
2.8
1.1
5.0
3g
4.9
2.7
1.1
4.8
37
4.9
2.7
1.2
4.5
35
5.1
2.9
1.1
4 8
38
48
2.5
1.2
'4.7
3.6
5.0
'2.7
r
1.3
i>4.4
*3.4
J>4.8
»2.6
"1.3
183
64
320
182
330
137
420
112
570
253
660
219
560
181
500
220
500
160
490
157
510
317
*>310
*132
408
189
1,693
480
255
3.380
500
266
2,590
600
261
2,080
770
303
2,740
870
329
3,530
800
302
3,370
760
307
3,420
770
280
2,890
740
215
1,830
33
4.6
2 3
1.4
INDUSTRIAL DISPUTES
Strikes and lockouts:
Beginning in period:
327
5,045
Work stoppages
number
4 595
2,649
130
Workers involved
thous..
2,870
In effect during month:
Work stoppages
number..
617
Workers involved.
_ _
.
thous..
306
Man-days idle during period
do
49, 018
2,431
42,100
EMPLOYMENT SERVICE AND UNEMPLOYMENT INSURANCE
Nonfarm placements
. . _ _ . - . _ thous
5,733
5 817
426
Unemployment insurance programs:
Insured unemployment all programs
do
1 187
1 270
984
State programs:
Initial claims
do
10 463
788
11 760
Insured unemployment weekly avg do
1 205
1 111
913
Percent of covered employment :d*
Unadjusted
22
2 5
1.8
Seasonally adjusted
_ __
2.1
Beneficiaries, weekly average
thous
680
936
1 017
Benefits paid
mil. $
2 092 3 2 031 9
122 5
Federal employees, insured unemployment,
weekly average
thous
23
21
20
Veterans' program (UCX):
Initial claims
do
26
222
289
Insured unemployment, weekly avg do
32
23
32
Beneficiaries weekly average
do
29
26
21
Benefits paid
mil. $
46 3
69 2
53
Railroad program:
241
6
Applications
thous
139
Insured unemployment, weekly avg do
20
20
18
Benefits paid
mil. $.
40.4
3.4
40.6
*175
"33
"550
"385
750
372
"323
'208
2,850 *4,050 "3,990
360
392
373
397
454
437
512
469
471
503
'463
372
1 252
I 584
1 550
1 384
1 162
970
911
1 088
1 015
902
929
1 105
1,161
1 172
1 240
890
1 491 1 459
709
1 300
756
1 090
613
906
710
852
1 105
1 021
731
948
655
'840
'745
864
866
1 030
2.3
2.1
885
170.3
30
2.1
1 206
246.1
29
21
1 290
234 2
26
21
1 190
226 5
2.2
2.0
1 022
200.1
1.8
2.0
800
153 0
1.7
2.1
744
135.0
2.0
2.2
788
159 2
1.8
2.2
832
156.7
1.6
2.2
706
136.2
1.6
2.2
686
139.5
2.0
2.3
22
24
24
23
20
17
18
19
18
17
18
22
29
38
34
7.2
32
44
41
9o
27
43
42
80
22
35
35
7.4
32
36
31
69
27
37
35
7.2
26
32
30
6.5
29
32
28
6.3
30
38
12
24
4.8
5
23
4 3
5
18
3.4
20
29
28
58
11
17
2.8
26
30
27
5.5
11
19
3.6
24
40
39
78
5
21
41
11
11
2.0
17
13
2.1
7
13
2.4
6
13
2.5
10
15
2.9
5
14
2.5
464
681
003
678
4 510
24* 390
10 076
14 314
4 668
25 305
9,931
15 374
4 880
26 004
10, 159
15,845
4 991
28 346
10,352
17 994
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
mil $
Commercial and finance co paper total
do
Placed through dealers _
do
Placed directly (finance paper)
do
Agricultural loans and discounts outstanding of
agencies supervised by the Farm Credit Adm.:
Total, end of period...
mil. $
Farm mortgage loans:
Federal land banks .
.
_ _do
Loans to cooperatives
do
Other loans and discounts
do. _
4 428
20* 497
7 201
13 296
4
22
7
14
389
220
758
462
4 428
20 497
7,201
13 296
4
21
7
13
10 848
11 748
11 677
11 748
11 907 ill 946
6 126 6,107
1 577 1,583
4 044
3,987
6,126
1 577
4,044
5 609
1 506
3 733
Reserve bank credit outstanding, total 9 -do
Discounts and advances
do
U.S. Government securities
.
do
Gold certificate account
370
813
873
940
6 169
1 630
4,108
1
6 226
1 680
4 040
4
23
9
14
5 145 5 232
29*476 29 564
11*350 11,871
18 126 17, 693
12 324 112 344 U2 514
12,941 112 854 U2, 841
6 412
6,484
1 648 1 614
i 4 284 i 4, 416
6,557
6,605
6,645
1,594
1 594 1 573
4,790 M,655 14,624
6 317
1 663
4 344
'5 256 5,212
'31 791 33,497
'12,067 12, 524
'19,724 20,973
12, 996 1 12, 819 112,803
6,676 6,700
1,680
1,585
4,736 i 4, 439
6,704
1,705
14,394
8,541.5 8,755.8 8734.2 8833 1 8 7237 88838 9 147.6 9,385.2 9242.8 9430.1 9,737.3 9, 526. 9 9, 484. 1
3, 925. 9 4 076.8 3 896.7 3 929 8 3 882 8 3 902 0 4 097.6 4 155.7 3 908 6 4 148.4 4,311.5 4, 127. 6 4, 207. 5
do
do
do
Federal Reserve banks, condition, end of period:
Assets, total 9
mil $
420
865
342
523
4 317
Bank debits to demand deposit accounts, except
interbank and U.S. Government accounts,
annual rates, seasonally adjusted:
Total (233 SMSA's)O. ~
bil. $
New York SMSA
do
Total 232 SMSA's (except N.Y.)
6 other leading SMSA's |.
226 other SMSA's .
4
22
8
14
16 635
4 901
11 634
4, 615. 6 4 679 0 4 837 5 4 903 2 4 840 9 4 981 8 5 050 0 5 229 6 5 334 2 5 281 7 5, 425. 8 5, 399. 3 5, 276. 6
1, 904. 1 1 902.4 2 007 9 2 047 2 1*974 3 2 028 9 2 083.2 2, 164. 4 2 244 4 2 242.8 2, 249. 6 2, 254. 7 2, 224. 8
2 711 5 2 776 6 2 829 6 2 856 1 2*866 6 2 952 9 2 966 8 3 065 2 3 089 8 3 038 9 3 1763 3, 144. 7 3, 051. 8
75 330
78 972
78 977
78 972
77 635
77 849
78 772
82 213
80 753 80 516
79 473
80 281
80 285
81 919 '84,315
84,060
51,948
141
49, 112
56, 614
188
52, 937
65,697
471
53,350
56, 614
188
52, 937
55,892
862
52, 127
55,857
744
52,275
55,419 58,108
1 148 2 532
52,405 53,113
56,891 56,601
1 832 1,049
53, 759 54,095
57,454
750
54, 138
58,626
1,514
54,911
56,948
928
54,134
59, 592 '61,603
1,531
1,690
55, 515 57, 318
60,851
183
57, 154
do
11, 481
10,026
10,026
10, 026
10,025
10,025
10,025
10,023
10, 022
10,027
10,027
10,027
10,036
10,036
10,036
10,036
do
75 330
78 972
78 977
78 972
77,635
77 849
78 772
82 213
80 753 80 516
79, 473
80 281
80,285
81, 919 '84,315
84,060
Deposits, total
Member-bank reserve balances
do
do
22 920
20,999
23 473
21,807
23 667
22,533
23 473
21, 807
24 295
23, 124
23 909
22,801
23 289
21,588
25 882
24,344
25 405 22 714
23,705 20,750
23 331
21,772
24 271
22,789
23 317
21,656
25 150 '24 948
23,613 '23,385
24,348
22,095
Federal Reserve notes in circulation
do
42,369
45, 510
44, 481
45, 510
44,170
43,992
44,232
44,196
44, 811
45, 299
45,566
45,885
45,818
46,128
48,244
Liabilities, total 9
r R evl
ed<
P
i
, 4,
Preliminary.
i Beginning Feb. 1969, data for indicated month exclude
loans by Federal Intermediate Credit Banks outside the Farm Credit Adm. system now
reported quarterly only.
AAdjusted to new benchmarks and seasonal factors; see note
1, p. b-13.
JRevised (back to 1960) to incorporate new seasonal factors; see note " J", p.
1%9 SUBVEY for data throu
2041)5'
&h Mav 1968 (revisions for June and July 1968,197 and
47, 191
d* Insured unemployment as % of average covered employment in a 12-month period.
GTotal SMSA's include some cities and counties not designated as SMSA's.
^Includes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland and Los
Angeles-Long Beach.
9 Includes data not shown separately.
January 1970
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
SURVEY OF CURRENT BUSINESS
1967
1968
End of year
S-17
1969
1968
Nov.
Dec.
Jan.
Feb.
Mar.
Aug.
Sept.
Oct.
Nov.
Dec.
27,079 27,903 27,317 26,980 27, 079
26,927 27,603 26,974 26,864 26, 776
343
116
303
152
300
1,190
1,249
1,407
1,402
996
-946
-844 -1,102 -1,064 -1,074
26,971
26, 735
236
1,067
-831
27,340 ^27,764
27,197 27, 511
••253
143
1,135 r 1,241
-992
-988
28,012
27, 774
238
1,087
-849
Apr.
June
May
July
FINANCE—Continued
BANKING— Continued
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
__
mil. $ »25,260 » 27, 221 26,785
Required
do
i 24, 915 126,766 26,461
Excess
do
'345
1455
324
Borrowings from Federal Reserve banks.. .do
1238
1765
569
Free reserves
do
1-310
-245
U07
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits:
Demand, adjustedcf
mil. $
81,848 88,930 78,963
Demand, total 9
do
127,277 144,295 125, 007
Individuals, partnerships, and corp
do
92,380 102,818 91,495
State and local governments
...do
6,231
7,675 6,175
U.S. Government..
do
3,818
3,437
1,429
Domestic commercial banks
do
15, 752
19,064 15,596
Time, total 9 _
._ .
_
do
102,921 112,103 111, 937
Individuals, partnerships, and corp.:
Savings
.
do
48,864 49, 161 48,672
Other time
do
38,273 45, 013 45, 926
Loans (adjusted) , totalc?
dc
Commercial and industrial ._
.
do
For purchasing or carrying securities. . do
To nonbank financial institutions
do
Real estate loans.
_
do
Other loans
do
143, 951
66,201
8,340
10,415
29,126
37,702
Investments, total
_ do
61,818
U.S. Government securities, total
...do.
28,371
Notes and bonds
.
do
22,322
Other securities
do
33,447
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates) , seas. adj. :t
Total loans and investments© _ ._
bil. $
346.5
LoansO
do
225.4
U.S. Government securities
do
59.7
Other securities. _
_
do
61.4
Money and interest rates: §
Bank rates on short-term business loans: t
2
In 35 centers..
percent per annum
5.99
New York City
do.. . 25.72
7 other northeast centers..
do
26.34
8 north central centers
do
25.96
7 southeast centers
do
25.96
8 southwest centers
do
26.06
4 west coast centers
do
26.09
Discount rate (N.Y.F.R. Bank), end of year or
month
percent..
4.50
Federal intermediate credit bank loans __do
25.88
Federal land bank loans..
do
26.02
Home mortgage rates (conventional 1st mortgages)^
New home purchase (U.S. avg.)
percent.. 26.33
Existing home purchase (U.S. avg.)
do
26.40
Open market rates, New York City:
Bankers' acceptances (prime, 90 days)
do
34.75
Commercial paper (prime, 4-6 months). .do
35.10
Finance Co. paper placed directly, 3-6 mo.do
34.89
Stock Exchange call loans, going rate
do
35.66
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent .. 3 4. 321
3-5 year issues
do
35.07
CONSUMER CREDIT
(Short- and, Intermediate-term)
Total outstanding, end of year or month J... mil. $.. 102, 132
27,221
26,766
455
765
-310
28,063
27,846
217
697
-480
27,291
27,063
228
824
-596
26, 754
26, 537
217
918
-701
88,930 81, 120 79,826 81, 891 79,374 77,040 4 78, 248 78, 135 79,444 80,553 79,650 79,349 90,501
144,295 127,002 124, 747 128, 683 134, 765 127, 254 4*135,809 127, 152 129, 567 135,020 131,707 135, 748 151,195
102,818 90,113 89, 131 93,164 92,700 89,414 493, 690 90,094 91, 903 92,614 90,848 93, 115 105, 821
7,961
6,257
6,270 4 6, 628 6,233 6,363 6,953 5,787 6,452
7,675 6,318 6,272
7,005
3,879 4,753 3,908
4,112
2,991
3,382
2,003 6,946
1,228
3,882
3, 618
3,437 5,434
19,064 14,596 14,915 16, 259 16,315 16,239 4 18, 999 16, 125 18, 182 17,613 17, 070 18,969 20,851
112, 103 110, 030 109, 211 108,387 106, 949 106, 188 4103,111 100,602
49, 161
45, 013
48,340 48,335
44,416 44,201
48, 650
43, 419
47,737
42,908
47, 691
42, 511
47, 512
40, 916
46, 953
39, 740
98,581 97, 977
97, 169
96,168
96,788
46,712
38,026
46, 376
37, 325
46,317
36,548
46,632
36,581
46, 653
38, 590
161, 824 154,023 161,824 156,682 157,587 159, 640 162, 397 161, 977 44170,468 168,004 166,481 168,844 167,511
73,988 71, 178 73,988 72,896 73,727 75, 269 76,659 76,636 478, 590 77,607 76,669 78, 417 77,649
7,233 6,927
6,264
7,025
6,727 6,586
9,533
7, 563
7,269
7,697
9,533 7,390
7,234
11,866 10,287 11,866 10, 401 10, 535 10,709 11, 349 10,806 4 11, 927 10,967 11, 138 11, 376 10, 819
32,051 31, 773 32,051 32, 220 32, 472 32, 627 32, 877 33, 022 4433, 252 33,303 33,534 33,678 33,950
40,882 40,453 40,882 42, 745 42, 727 42, 949 42,065 42,910 44,917 44,658 44,418 45, 119 44,599
4
60, 168
4
22, 820
4
21,
382
4
168, 743 176, 025
78, 347 81,634
7,830
6.517
11, 000 13, 129
34, 056 33, 576
44, 469 44,208
68,347
29,354
24,040
38,993
66,525
28,231
24, 480
38, 294
68,347
29, 354
24,040
38,993
65,861
27, 656
23,649
38,205
63,193
25, 146
22,851
38,047
64,066
26, 073
22, 552
37,993
63,169
24, 791
22,500
38,378
60,758
23,077
21,803
37, 681
384.6
251.6
61.5
71.5
381.6
250.4
61.0
70.2
384.6
251.6
61.5
71.5
385.9
253.7
60.8
71.4
387.9
258.4
58.1
71.5
386.6
257.3
57.4
71.9
390.7
261.0
57.7
72.1
392.2
264.1
56.1
72.0
26.68
26.45
27.01
26.72
26.50
26.66
26.64
6.61
6.40
6.95
6.69
6.44
6.48
6.62
5.50
26.41
26.85
5.25
6.54
6.96
5.50
6.53
6.97
5.50
6.54
6.98
5.50
6.64
5.50
6.70
6.00
6.72
6.00
6.84
6.00
7.02
6.00
7,26
6.00
7.51
6.00
7.69
6.00
7.81
6.00
7.93
26.83
26.90
7.07
7.07
7.09
7.09
7.16
7.18
7.26
7.28
7.32
7.35
7.47
7.46
7.50
7.54
7.62
7.64
7.76
7.79
7.86
7.90
7.89
7.92
7.98
7.98
7-98
7.98
35.75
35.90
35.69
6.33
5.97
5.92
5.75
6.25
6.20
6.17
5.86
6.50
6.46
6.53
6.14
6.97
6.47
6.62
6.33
7.00
6.66
6.82
6.38
7.26
6.86
7.04
6.38
7.50
7.38
7.35
6.54
7.50
7.99
8.23
7.25
8.31
8 41
8 65
7.53
8.50
8.04
8.33
7.71
8.50
8.14
8.48
7.61
8.50
8.17
8.57
7.86
8.50
8.18
8.46
7.92
8.50
8.58
8.84
7.93
8.50
3 5. 339
35.59
5.492
5.47
5.916
5.99
6.177
6.04
6.156
6.16
6.080
6.33
6.150
6.15
6.077
6.33
6.493
6.64
7.004
7.02
7.007
7.08
7.129
7.58
7.040
7.47
7.193
7.57
7.720
7.98
7
7
7
7
7
7
7
7
7
8
7
7
7
7
32
13
50
41
01
25
35
37, 348
4
4
397. 3
269. 2
56.3
71.8
4
4
60,081
23,468
21,138
36,613
59, 426
23,336
21, 118
36,090
58,067
22, 191
20,558
35,876
58,618
23,350
20,104
35,268
59, 289
23, 670
20,047
35, 619
59, 707
23, 912
19,841
35, 795
397.7
269.9
56.8
71.0
397.5
270.3
56.9
70.3
396.5
271.3
54.7
70.5
396.8
273.3
53.4
70.1
399.7
275.5
53.2
71.0
398.6
276.2
51.8
70.5
8.83
8.66
9.21
8.83
8.58
8.79
8.81
8.82
8.65
9 14
8.85
8.46
8.85
8.75
86
66
18
89
66
87
83
6.00
113, 191 110, 035 113, 191 112, 117 111, 569 111, 950 113, 231 114, 750 115, 995 116, 597 117, 380 118,008 118, 515 119, 378
Installment credit, total
do
80,926 89,890 87,953 89,890 89,492 89,380 89, 672 90,663 91,813 93,087 93,833 94,732 95,356 95,850 96,478
Automobile paper
do
30,724
34,130 33,925 34,130 34,013 34, 053 34, 262 34,733 35, 230 35,804 36,081 36,245 36, 321 36,599 36,650
Other consumer goods paper
. do
22,395 24,899 23,668 24,899 24,682 24,404 24,306 24, 399 24,636 24,956 25,172 25,467 25, 732 25,855 26, 223
Repair and modernization loans
..do..
3,874
3,925 3,886
3,789
3,925 3,931
4,022
4,076
4,039
3,875
4,063 4,096 4,084
3,903 3,964
Personal loans
_
do
24, 018
26,936 26,429 26, 936 26,911 27,048 27,230 27, 628 27, 983 28,305 28,541 28,957 29,207 29,312 29,529
By type of holder:
Financial institutions, total
do
69,490
77, 457 76,446 77, 457 77,360 77, 577 78,006 79,062 80, 155 81,388 82, 130 82, 910 83,440 83,949 84,301
Commercial banks.
do
32,700 36,952 36,560 36, 952 37,005 37, 056 37, 257 37, 854 38, 347 38,916 39,248 39,532 39, 793 40,006 40,047
Sales finance companies
do
16,838
18, 219 17,960 18, 219 18, 175 18,219 18,253 18, 418 18,636 18,961 19,127 19, 265 19, 360 19,569 19,668
Credit unions
do
8,972
10, 178 10,049 10, 178 10, 101 10, 153 10,294 10,508 10, 699 10, 939 11, 054 11,220 11, 347 11,438 11,491
Consumer finance companies
do._.
8,913 8,879
8,913
9,532
8,685
8,896 8,927
8,103
9,293 9,436 9,450 9,436
9,008 9,080 9,146
Other
.
do
3,195
3,192
3,195
3,563
2,877
3,200 3,253 3,275
3,490 3,500
3,393 3,426 3,408 3,457
3,274
Retail outlets, total....
do
11, 436
12,433 11,507 12,433 12, 132 11,803 11,666 11, 601 11,658 11,699 11,703 11, 822 11, 916 11,901 12, 177
Automobile dealers
do
320
285
319
320
319
337
320
338
319
336
333
336
329
335
325
Noninstallment credit, total ...
do
21, 206
23,301 22,082 23,301 22, 625 22, 189 22, 278 22,568 22,937 22,908 22,764 22,648 22,652 22,665 22,900
Single-payment loans, total
do
9,024
8,428
9,138
9,138 9,038
9,050 9,139
9,120
9,073 9,075 9,025 9,000
9,227
9,216
9,218
Commercial banks
do
7,975 7,878
7,340
7,975 7,857
7,877 7,961
7,837 7,795
7,879 7,882
8,040 8,017
8,031 7,946
Other financial institutions..
do
1,088
1,163
1,167
1,163
1,160
1,173
1,178
1,188
1,205
1,174
1,194
1,193
1,201 1,196
1,176
Charge accounts, total
do
7,755
6,968
7,755 6,964
7,097
6,403 6,340
7,002
7,039
6, 557
6,988 7,005 7,085 7,238
6,971
Credit cards
do
1,294
1,305
1,029
1,316
1,305
1,334
1,303
1,517
1,553
1,320
1,557
1,362
1,550
1,428
1,498
Service credit
do
5,810
6,408 6,094
6,408 6,490 6,736 6,799
6,795 6,748 6,679 6,605 6,587 6,572 6,555 6,662
' Revised.
reserves (indiv idual loa n items 2ire showii gross; i e., before* deducti on of val nation resserves) .
i Average for Dec.
2 Average for year.
3 Da ly avera ;e.
« B sginning June 1969,
9In eludes dtita not sh own sepairately.
tReviaed monthily data f<3r comme.rcial bar k credit
data are revised to include all bank premises subsicliaries, aiid other s ignifican t major!tyfor 19<18-June 1 967 appe ar on p. 44 of the3 Sept. 1968 SUR\ EY; those for consumer cr edit for
owned domestic subsidiaries; also, loans and investnicnts are now repot ted gros 3. For com1956-67 appear in the D ec. 1968 Federal R eserve Bulletin; a nd those for 1965- 36 for hontie mortplete details see the Aug. 1969 Federal Reserve Bulle tin.
gager ates will be show i later,
OAdju sted to exclude iriterbank loans an 3 beginn ng June
cf For demand deposits, the term "adjusted" denot ?s demam1 deposits other thjm domes tic
1969, data are reportec gross.
tBegiiining Fe b. 1967,
§For b ond yiel ds, see i3. S-20.
commercial interbank and U.S. Government, less <;ash item s in proaJSS Of CO lection; for
series revised t o cover 35 center s and ex elude rat es for ce [•tain loaiis formei-ly inclu ied (see
loans, exclusive of loans to domestic commercial DJinks and after ded uction o f valuati on
May 1967 Federal Resei•ve Bulle tin).
372-943
O - 70 - I
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
Annual
1969
1968
1968
Nov.
January 1970
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FINANCE—Continued
CONSUMER CREDIT^— Continued
Installment credit extended and repaid:
Unadjusted:
Extended total
Automobile paper
Of.her consumer goods paper
All other
Repaid, total
Automobile paper
Other consumer goods paper
All other
Seasonally adjusted:
Extended total
Automobile paper
Other consumer goods paper
All other
__
Repaid, totalAutomobile paper
Other consumer goods paper
All other
_ _ _ _
mil $
do
do
do
84,693
26, 667
26, 952
31, 074
97, a53
31, 424
30, 593
35,036
8,166
2,546
2,739
2,881
9,568
2,489
3,608
3,471
7,557
2,369
2,449
3,739
6,971
2,344
1,985
2,642
8,132
2,750
2,423
2,959
9,024
3,023
2,668
3,333
8,960
2,985
2,760
3,215
9,169
3,045
2,832
3,292
8,920
2,828
2,778
3,314
8,604
2,593
2,764
3,247
8,485
2,566
2,794
3,125
8,797
2,939
2,805
3,053
8,173
2,433
2,817
2,923
do
do
do
do
81, 306
26,499
25, 535
29,272
88,089
28, 018
28,089
31, 982
7,271
2,319
2,319
2,633
7,631
2,284
2,377
2,970
7,955
2,486
2,666
2,803
7,083
2,304
2,263
2,516
7,840
2,541
2,521
2,778
8,033
2, 552
2,575
2,906
7,810
2,488
2,523
2,799
7,895
2,471
2,512
2,912
8,174
2,551
2,562
3,061
7,705
2,429
2,469
2,807
7,861
2,490
2,529
2,842
8,303
2,661
2,682
2,960
7,545
2,382
2,449
2,714
8,288
2,681
2,640
2,967
8,277
2,592
2,656
3,029
8,371
2,661
2,654
3,056
8,414
2,716
2,598
3,100
8,381
2,730
2,625
3,026
8,720
2,772
2,763
3,185
8,680
2,757
2,767
3,156
8,705
2,725
2,869
3,111
8,521
2,582
2,777
3,162
8,680
2,634
2,819
3,227
8,669
2,794
2,740
3,135
8,661
2,808
2,707
3,146
8,632
2,683
2,841
3,108
7,454
2,363
2,388
2,703
7,502
2 357
2,422
2,723
7,730
2 467
2,442
2,821
7,616
2,468
2,352
2,796
7,735
2,501
2,461
2,773
7,960
2,519
2,569
2,872
7,834
2,488
2,507
2,839
7,910
2,460
2,602
2,848
7,899
2,471
2,511
2,917
8,080
2,562
2,574
2,944
7,971
2,498
2,600
2,873
7,992
2,463
2,615
2,914
8,012
2,503
2,623
2,886
15, 820
14, 465
1,355
15. 845
15, 798
47
14, 590 13, 727
14, 361 15, 637
230 -1,910
23, 596 13, 346 '23,805 12,542 14, 999
15, 922 15, 279 ' 13, 895 15, 542 16, 790
7,674 -1, 932 ' 9, 910 -3,001 -1, 791
20,406 11, 832
17, 167 17,602
3,239 -5,769
14, 332
15, 225
-894
71
1.427
37
84
-2
-373
-144 -1,912
-152
-316
-485
'373
-50
7,625 -2,418 '10,283 -3, 153 -2, 107
-342
-236
-448
2,790 -6,112 -1,130
418
1,626 -1,887
-3, 586
1,494
2,031
2,159 -1,710
1,912
144
-1,427
-84
371,267 373, 618 373, 165 373, 854
291, 855 293, 481 291, 595 292, 012
4,438
679
-2, 456 -1,485 '-8,587
1,428
3,903 '-1,696 -1,285
-5, 169
2,107
2,418 '-10,283 3,153
-7,625
372, 216 373, 677 '367,144 371, 759 374, 105
289, 557 288, 072 '279,483 283, 930 284,608
4,388
2,695
-375
1,724 -1,565
-2, 415
6,112
1,130
-2, 790
373, 960 377, 622 381, 192
284, 233 288, 621 291, 306
do
do .
do
do
do
do
__do
do
FEDERAL GOVERNMENT FINANCE
Budget receipts, expenditures, and net lending: 1
Expenditure account:
Receipts (net)
mil. $ '[ 149, 552 1 2 153,671 12, 737
Expenditure (excl net lending)
do
i 153, 201 12172,803 15, 070
Expend acct surplus or deficit ( — )
do
i -3, 649 12-19,132 2 332
Loan account:
Net lending
do
1-5,053 12-6,030
-55
Budget surplus or deficit (— )..
do
i -8, 702 12-25,162 -2,387
Budget financing: 1
Borrowing from the public
do
12,838 i 23, 100
-686
Reduction in cash balances
do
15,864 12 2,062
3,073
Total, budget
financing
do
i 8, 702 12 25,162
2,387
Gross amount of debt outstanding^
do
i 341, 348 i '369, 769 375, 120
Held by the public
do
i '267, 529 i '290, 629 295, 441
Budget receipts by source and outlays by agency: M
Receipts (net) total
mil $ i 149, 552 12153,671 12, 737
Individual income taxes (net)
do
i 61, 526 i 68, 726
6,483
Corporation income taxes (net)
do
i 33, 971 i 28, 665
559
Social insurance taxes and contributions
(net)
mil $
i 33, 349 1234,622
3, 659
Other
do
i 20, 706 1221,659
2,035
Expenditures and net lending total 9
do
i'158, 254 12178,834 15, 124
Agriculture Department
do
781
i 5, 841
i 7, 308
Defense Department, military
do
6,336
i 67, 453 i 77, 373
Health, Education, and Welfare Department
mil. $.. i 34, 608 i 40, 576
3, 830
Treasury Department
do
i 13, 059 i 14,655
1,441
National Aeronautics and Space Adm
do
i 5, 423
i 4, 721
334
Veterans Administration
do
i 6, 845
i 6, 858
617
Receipts and expenditures (national income and
product accounts basis), qtrly. totals seas. adj.
at annual rates:J
Federal Government receipts, total
bil. $..
Personal tax and nontax receipts
..do
Corporate profit tax accruals
do
Indirect business tax and nontax accruals. do
Contributions for social insurance
do
Federal Government expenditures, total.. _do
Purchases of goods and services
do .
National defense
.do
Transfer payments
do . .
Grants-in-aid to State and local govts
do
Net interest paid
_
..do
Subsidies less current surplus of government
enterprises
...bil. $..
Surplus or deficit (— )
do
15, 820
6,397
5,159
15, 845
10, 222
1,603
14, 590
7,287
682
13, 727
3,999
4,965
23, 596
12,106
5,323
13, 346 ' 23,805
4,760 ' 10,123
806 .'8,588
12,542
6,404
1,070
14, 999
7,230
571
20,406
9,776
5,551
11, 832
6,636
843
14, 332
7,236
634
2, 118
2,147
14, 394
675
6,702
2,176
1,844
15, 761
808
6,568
4,880
1,742
14, 734
395
6,227
2,865
1,898
15, 639
447
6,543
3,881
2,286
15,972
610
6,682
5,748 ' 2, 823 2,879
2,031 ' 2, 271 2,190
15, 764 ' 13,522 15, 695
344 ' -593
825
6,480 ' 7, 262 6,346
5,209
1,989
17,106
1,338
6,612
3,022
2,057
17, 616
1,857
6,479
2,364
1, 988
17, 944
1,276
6,982
4,078
2,383
15, 461
640
6,051
3,776
1,416
353
623
3,830
1, 373
347
632
3,849
1,422
335
649
4,007
1,511
385
712
4,169
1.506
353
692
4,000
1,567
337
667
4,071
1,587
294
691
4,311
1.317
327
691
3,857
1,680
267
708
' 4, 231 3,951
' 1, 476 1,445
'326
319
652
657
198. 6
93.8
'40.7
18.5
45.6
202.3
96.9
'41 0
18.6
46.4
'201.3
95.0
'39.8
19.1
47.5
187 4
101.9
79.3
50.0
19 0
12.2
188 5
101 6
79.0
50 8
19 0
12.5
189 3
100.6
78.5
52.1
19 3
12.9
193.6
103.2
80.3
52.7
19.8
13.1
196.2
102.7
79.2
53.7
21.4
13.5
4.2
4.4
4.6
4.4
4.6
4.9
5 2
—.1
' 13.5
'7.7
151.1
67.5
30.6
16.3
36.7
176.3
79.5
38.3
18.0
40.5
187.3
87.4
39.8
18.5
41.7
163.8
90.7
72.4
42.2
15.9
10.3
181.5
99.5
78.0
47.8
18.3
11.6
4.7
12.7
f
4,054
1,470
367
684
' 10. 1
96.6
18.9
48.1
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance companies t
bil. $.. a 177.83 3 188.64
Bonds (book value) total
do
3 75. 77 3 79.41
Stocks (book value), total
do
3 10.88 3 13.23
Mortgage loans, total
do
3 67.52 3 69.97
Nonfarm
do
3 61.95 3 64.17
Real estate
do
3 5. 19
3 5.57
Policy loans and premium notes
do
3 10.06 3 11.31
Cash
do
3 1.58
3 1.68
Other assets
do
3 6.85
« 7.47
187.55
79.70
10.67
69.37
63.59
5.56
11.22
1.43
9.60
188.64
79.49
10.92
70.04
64.24
5.58
11.30
1.68
9.62
188.97
79.95
11.07
70.20
64.44
5.62
11.40
1.42
9.31
189. 92
80.51
11. 2S
70.36
64.58
5.64
11.52
1.42
9.20
190. 83
80.74
11.48
70.48
64.69
5.67
11.70
1.38
9.38
191. 36
80.72
11.62
70.66
64.86
5.65
11.90
1.35
9.45
192. 13
80.90
11.79
70.82
64.99
5.68
12.09
1.32
9.52
192. 31
80.85
11.93
70.96
65.11
5.71
12.32
1.24
9.30
;
193. 04
81.24
11.85
71.08
65.23
5.79
12.65
1.19
9.24
194. 03 '194.80
81.58
81.37
12.08
11.97
71.43
71.25
65.56
65.39
5.81
5.80
12.92
13.17
1.22
1.20
9.53
9.52
195. 93
81.87
12.22
71.57
65.77
5.85
13.41
1.27
9.74
196. 66
82.23
12.26
71.71
65.92
5.90
13.58
1.29
9.69
Payments to policyholders and beneficiaries in
U.S., total.
mil $ 13.293.6 14, 385. 0 1, 087. 3 1, 506. 9 1, 293. 9 1, 206. 8 1, 363. 7 1, 270. 5 1, 240. 5 1, 287. 1 1, 246. 9 1, 251. 2 1, 279. 1 1, 280. 5 1,117.8
Death benefits . _
do
560.4
564.9
553.5
483.8
547.0
542.4
5, 665. 3 6, 209. 3
562.2
616.3
548.5
466.1
541.2
560.7
589.0
Matured endowments
do
82.7
71.7
67.2
76.8
81.3
82.5
80.1
I 1,017.1
967.2
89.5
71.5
75.4
79.2
83.9
87.5
Disability payments
do
16.3
14.2
17.2
18.7
16.0
20.0
174.6
15.0
18.7
16.9
195.6
15.5
16.6
17.0
18.5
Annuity payments
do
131.2
129.8
132.1
133.8
127.1
123.4
1,261.3 1,401.0
138.4
117.0
123.8
127.6
151. 4
127.8
110.8
Surrender values..
do
226.3
230.2
195.2
226.6
240.0
2, 243. 1 2, 456. 4 186.5
206.4
232.2
231.1
234.8
238.7
215.7
221.8
Policy dividends
.
do
265.7
252.6
223.1
254.6
2. 932. 2 3. 155. 5
287.7
219.3
229.1
236.8
226.8
249.5
543.0
272.7
225.7
r
Revised.
* Preliminary.
i Data shown in 1967 and 1968 annual columns are for fiscal years ending June 30 of the
respective years; revised monthly data for July 1967-Mar. 1968 will be shown later.
2 jn.
eludes revisions not distributed to months.
s Annual statement values.
d" See note " J" on p. S-17.
UTables showing cash transactions and administrative budget receipts and expenditures
have been discontinued. Data shown in the indicated sections are from the monthly U.S.
Treasury Statement and are on the basis of budget concepts adopted Jan. 1968.
9 Includes data for items not shown separately.
JRevisions for 1st qtr. 1966-lst qtr. 1968 for receipts and expenditures (natl. income and
product accts. basis) are shown on p. 30 of the July 1969 Survey; those for Apr. 1966-May
1968 for assets of all life insurance companies will be shown later.
SURVEY OF CURRENT BUSINESS
January 1970
Unless otherwise stated, statistics through 1%G
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
Annual
1968
Nov.
S-19
1969
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FINANCE—Continued
LIFE INSURANCE— Continued
Life Insurance Agency Management Association :J
Insurance written (new paid-for insurance) :
Value, estimated total
_ _ _ mil. $ i 140,868 i 150,743 115,695
94,694 104, 524
Ordinary (incl. mass-marketed ord.)f do
8,882
i 39, 118 i 39, 591 16,278
Groupt
do
Industrial.
do
7,056
6,628
535
Premiums collected:
Total life insurance premiums
do.
18, 052
1,425
17,017
Ordinary (incl. mass-marketed ord )f do
13, 510
1,084
12,822
3,201
246
Groupt
-do
2,843
Industrial
do
1,341
1,352
95
16, 276
9,859
5,853
564
10, 586
8,094
1,992
500
11, 149
8,439
2,191
519
13, 360
9,798
2,971
591
13,947
9,632
3,770
545
12, 436
9,602
2,240
594
13, 261
9,691
3,039
531
12,104
9,053
2,560
491
13,230
8,791
3,931
508
12,464
8,905
3,026
533
14, 152
10, 590
3,009
553
13,052
9,417
3,115
520
1,833
1,243
340
249
1,519
1,165
252
102
1,493
1,137
263
93
1,560
1,181
283
96
1,555
1,170
289
95
1,531
1,161
275
96
1,536
1,159
282
96
1,580
1,192
294
94
1,520
1,125
300
95
1,564
1,155
311
98
1,626
1,242
286
98
1,440
1,085
264
91
10,367
92
370
16, 128
10, 367
-7
478
15, 824
10, 367
-66
0
14, 292
10, 367
-28
202
15, 005
10, 367
-16
192
22, 837
10, 367
48
613
24,956
10,367
91
358
17, 156
10, 367
-2
193
23, 742
10, 367
-11
239
8,066
10, 367
17
9,531
19, 519
10, 367
29
364
27, 052
10, 367
25
150
19, 817
10,367
-19
244
34, 030
87.9
7.5
83.5
7.7
83.4
86.7
89.1
89.3
90.0
91.3
93.7
6.7
93.9
6.6
95.1
7.0
95.2
6.5
93.6
249,973
140,435
2.145
11,884
11, 547
2.018
21, 529
10, 496
1.959
8,653
6,719
1.979
17,648
8,244
1.840
10,417
9,086
1.826
12, 424
9,450
1.778
27, 930
9,406
1.761
8,643
8,299
1.645
8,365
5,427
1.618
10, 889
4,446
1.653
7,838
6,117
1.785
10, 103
4.993
1.872
2,363
3,026
1.923
45, 390
340, 031
37, 168
51.0
3,596
3,289
4,368
50.0
3,251
3,807
4,762
51.0
3,176
2,955
5,529
49.0
3,211
3,406
4,723
49.0
3,569
4,494
5,233
49.5
3,387
4,059
4,977
49.6
4,140
2,974
4,287
50.4
3,587
3,212
4,805
50.9
3,382
3,697
3,625
2,645
51.1
6,017
51.5
2,912
51.3
51.7
53.0
188.6
42.0
146.6
192.4
5.7
195.3
43.6
151.7
201.3
4.5
201.0
44.3
156.7
203.1
5.0
201.7
43.5
158.2
202.8
4.9
194.8
43.4
151.4
202.4
6.9
195.0
43.7
151.3
202.9
4.8
199.2
43.8
155.3
202.7
5.4
194.4
44.2
150.3
202.2
9.2
197.0
44.7
152.3
201.0
6.0
197.8
45.2
152.7
197.7
5.6
195.9
45.4
150.5
195.5
4.3
197.6
45.2
152.4
194.3
5.3
199.3
45.6
153.7
193.7
4.2
206.0
«• 201. 0
47.0
'46.4
' 154. 7 159.0
' 192. 6 192.4
5.5
5.1
193.6
43.2
150.5
202.1
194.8
43.4
151.4
204.9
195.8
43.5
152.3
203.2
196.3
43.8
152.5
202.4
196.8
44.1
152.7
202.3
198.1
44.2
154.0
202.3
198.3
44.5
153.8
201.7
199.0
44.8
154.2
200.8
199.3
45.0
154.4
197.7
199.0
45.3
153.8
194.5
199.0
45.2
153.7
194.1
199.1
45.6
153.6
193.5
' 199. 3
'45.9
«• 153. 4
193.4
«-65.5
' 143. 4
'44.8
66.0
144.8
44.8
62.1
37.6
65.7
138.3
46.2
65.5
38.2
67.3
144.9
47.0
67.2
38.7
66.0
142.6
46.1
64.5
38.5
66.6
140.9
47.2
66.3
39.4
68.2
147.3
47.5
67.1
39.5
68.7
145.5
48.4
68.6
40.1
67.6
136.1
49.4
71.8
40.3
70.1
146.5
49.7
72.9
40.3
72.3
153.5
50.9
73.0
41-9
70.8
148.8
50.6
72.9
41.5
70.5
151.6
49.4
71.7
40.3
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U.S. (end of period)... mil. $.. 11,982
10, 367
Net release from earmark§
. do.
187
-86
Exports
__
thous. $.. 1,005,199 839, 160
Imports . _ ._
_
do
32, 547 226, 262
Production, world total
mil. $ 2*1,410.0 2*>1,420.0
South Africa
_
do
1,068. 7 1, 088. 0
103.7
United States...
do
53.4
Silver:
Exports.
_
thous. $.. 100, 710
Imports
do
80, 178
Price at New York
dol. per fine oz
1.550
Production:
Canada
.
thousfineoz 37,206
Mexico
do
338, 273
United States
do
30, 354
Currency in circulation (end of period)
bil. $_.
47.2
Money supply and related data (avg. of daily fig.) :©
Unadjusted for seasonal variation:
Total money supply..
bil $
176.5
Currency outside banks
do
39.4
Demand deposits
_ _
do
137.1
Time deposits adjusted^
do
173.3
U.S. Government demand depositsif
do
5.1
Adjusted for seasonal variation:
Total money supply
do
Currency outside banks
do
Demand deposits
do
Time deposits adjustedldo
Turnover of demand deposits except interbank and
U.S. Go vt., annual rates, seas, adjusted:
Total (233 SM S A 's) O _ .ratio of debit s to deposits
New York SMSA
do
Total 232 SMSA's (except N.Y.)
do
6 other leading SMSA'sd"
do
226 other SMSA's
_
do
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade and SEC):
Net profit after taxes, all industries
mil $
Food and kindred products
do
Textile mill products
do
Lumber and wood products (except furniture)
mil. $..
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. $
Machinery (except electrical) ...
do
Elec. machinery, equip., and supplies., do
Transportation equipment (except motor
vehicles, etc.)
mil $
Motor vehicles and equipment
do
All other manufacturing industries
do
Dividends paid (cash) , all industries
do
Electric utilities, profits after taxes (Federal Reserve)t
mil $
SECURITIES ISSUED
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 9
Manufacturing
Extractive (mining).
Public utility..
Railroad
Communication
Financial and real estate
94.1
53.9
r 63. 1
'37.2
29, 008
2,130
540
32, 069
2,209
654
8,718
597
178
7,929
506
138
8,944
580
173
7,994
660
153
333
796
3,261
5,497
672
1,061
1,165
635
889
3,525
5,794
769
1,149
1,186
170
246
891
1,461
196
349
262
zu^
201
225
886
1,468
107
321
293
229
265
961
1 480
263
371
348
109
243
884
1,442
273
335
244
1,316
2,893
2,297
1,320
2,947
2,518
347
765
760
310
697
625
369
930
653
324
760
663
809
2,356
3,884
13, 262
1,025
3,222
4 229
14, 189
265
1 007
1,224
4,064
274
855
1,019
3,606
272
821
1,230
3,797
228
404
1,271
3,452
2,908
3,002
733
873
707
68, 514
65, 562
3,294
3,812
4,284
4,087
3,514
5,780
4,608
4,056
5,015
3,315
3,958
5,447
do
do
do
do
65, 670
21,954
1,959
885
60,979
17, 383
3,946
637
2,828
1,301
425
41
3,330
1,572
464
19
3,825
1,616
393
67
3,278
1,237
736
72
2,759
1,344
657
98
4,950
1,917
762
68
3,914
1,382
684
10
3,311
1,786
694
50
4,426
1,889
553
36
2,832
944
410
72
3, 232
1,701
652
74
4,804
1,316
623
20
do
do
do
do""
do
do
do
24, 798
11,058
587
4,935
286
1,979
21, 966
6,979
594
5,281
246
1,766
1,767
421
74
443
50
163
2,055
651
104
319
9
41
2,075
403
150
627
13
186
2,045
513
260
315
26
56
2,098
491
168
404
44
232
9,74
2,748
513
115
784
21
44
548
2,076
569
229
392
8
197
973
2,530
691
163
702
41
191
298
2,478
875
86
493
25
286
389
1,427
362
108
507
17
126
181
2,427
625
106
545
31
272
442
1,960
270
50
745
28
120
440
mil. $
9 433
9 890
94Q
599
r/ ?v^ed'^, tf.oP.pJ-?llmmary- ! Indudes coverage on Federal employees of $8.3 bil. in
Dec. 1967 and $3.4 bil. in Nov. 1968.
2 Estimated; excludes U.S.S.R., other Eastern Eurok)6months
Mainland, and North Korea.
3 includes revisions not distributed
} Revisions for Jan. 1966-Mar. 1968 for insurance written, for Jan.-July 1967 for premiums
?SoeCoed' and for 1966~67 for electric utilities profits will be shown later.
t Beginning Oct.
1968 SURVEY, mass-marketed ordinary, formerly combined with group is included under
939
979
10, 367
1.807
199.6
46.0
153.6
194.. 1
ordinary insurance; monthly data available on new basis beginning Jan. 1965.
§ Or increase
in earmarked gold (-).
eSeries revised to reflect the change in accounting procedures
associated with Euro-dollar transactions and to reflect new benchmarks and changes in
seasonal factors.
fAt all commercial banks.
©Total SMSA's include some cities and
counties not designated as SMSA's.
^Includes Boston, Philadelphia, Chicago, Detroit,
San Francisco-Oakland, and Los Angeles-Long Beach.
QIncludes data not shown
separately.
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
1968
Nov.
Annual
January 1970
1969
Dec
Jan. I Feb. Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov. Dec,
FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission— Continued
Estimated gross proceeds— Continued
By type of issuer— Continued
Noncorporate total 9
mil. $
U.S. Government
do
State and municipal
do
43, 596
18, 025
16, 374
1,527
379
1,037
1,758
377
1,138
2,209
427
1,244
2,041
443
974
1,416
382
520
3,032
412
1,627
2,533
410
1,088
1,525
419
710
2,537
421
1,052
1,888
377
794
1,531
353
531
3,487
440
1,254
16,374
8,659
1,037
975
1,138
576
1,244
640
974
837
520
783
1,627
1,292
1,088
905
710
1,072
1,052
627
794
1,140
531
1,168
1,254
795
'853
'1,439
1
791 11,002
17,948 i 9, 790
12,763 i 3, 717
1,064
9,029
3,419
1,002
9,790
3,717
1,054
9,042
3,597
1,056
9,148
3,647
1,063
8,318
3,294
965
8,044
3,077
988
8,474
3,084
1,019
8,214
3,084
975
7,515
2,783
930
7,019
2,577
950
7,039
2,579
979
7,243
2,753
921
7,111
2,613
81.8
100.5
76.4
93.4
75.7
91.2
73.0
88.5
72.5
88.0
72.1
86.4
71.0
83.7
70.1
84.2
70.2
82.3
68.8
78.6
68.2
78.5
68.4
76.1
67.2
73.6
66.5
74.9
65.6
73.4
62.9
68.7
76.55
72.33
71.27
68.47
67.61
66.55
64.90
67.73
66.68
64.84
64.75
65.18
62.64
63.05
61.08
58.71
6,087.43 5, 669. 52
5,393.60 5, 458. 55
501. 27
474. 36
586. 72
555. 81
498. 22
517. 50
399. 88
409. 00
388.20
426. 23
406.63
446. 13
422. 50
438. 10
370.32
410.29
330.44
393. 16
315. 76
375.63
271.52
338.22
397. 35
466. 10
318. 32
376. 13
5, 428. 00 4, 401. 94
4, 862. 48 4, 447. 68
395. 10
383. 79
448.22
456.37
389.95
409.21
303. 99
319. 45
306.40
345. 57
320.97
360.38
299.98
333. 90
288.21
331. 35
269. 23
324.81
255. 55
304.60
210. 08
269. 62
319. 84
372. 88
261.94
308. 69
New York Stock Exchange, exclusive of some
stopped sales, face value, total.. _.
mil. $ 3,955.54 3, 814. 24
343. 20
387. 20
344. 56
289. 19
280. 23
325. 13
289. 74
300.46
293.42
245.99
239.42
341.33
263.80
432. 91
New corporate security issues:
Estimated net proceeds, total.
Proposed uses of proceeds:
New money, total.
Plant and equipment
Working capital
Retirement of securities. _.
Other purposes
_
State and municipal Issues (Bond Buyer):
Long-term
Short-term
..
43, 716
19,431
14,288
_ do_.
24,409
do
do
do
do
do
22,230
16,154
6,076
312
1,867
do
do
14,288
8,025
794
1,230
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 (net)
mil $
do
do
Bonds
Prices:
Standard & Poor's Corporation:
Industrial, utility, and railroad (AAA issues):
Composited*
dol per $100 bond
Domestic municipal (15 bonds)
do
U.S. Treasury bonds, taxab lei
do
Sales:
Total, excl. U.S. Government bonds (SEC):
All registered exchanges:
Market value
mil $
Face value . do
New York Stock Exchange:
Market value
do
Face value. _ _ _
do
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
_ _ _ _ _
Aa
A.__
Baa
By group:
Industrials
_
Public utilities
Railroads
Domestic municipal:
Bond Buyer (20 bonds)
Standard & Poor's Corp. (15 bonds)
U.S. Treasury bonds, taxable©
percent..
do
do
do
do
do _
do
do
_ do _.
do
do
2
5. 82
6.51
6.56
6.80
6.89
6.93
7.11
7.17
7.10
7.27
7 39
7.37
7.53
7.72
7.76
8.13
25.51
5.66
5.86
6.23
6.18
6.38
6.54
6.94
6.19
6.45
6.59
7.01
6.45
6.66
6.85
7.23
6.59
6.73
6.93
7.32
6.66
6.77
6.97
7.30
6.85
6.95
7.13
7.51
6.89
7.02
7.21
7.54
6.79
6.96
7.12
7.52
6.98
7.12
7.28
7.70
7.08
7.24
7.40
7.84
6.97
7.23
7.41
7.86
7.14
7.36
7.56
8.05
7.33
7.53
7.79
8.22
7.35
7.58
7.84
8.25
7.72
7.93
8.21
8.65
5.74
5.81
5.89
6.41
6.49
6,77
6.47
6.58
6.78
6.72
6.85
6.97
6.78
7.02
6.98
6.82
7.05
6.98
7.02
7.23
7.16
7.07
7.26
7.25
6.99
7.15
7.27
7.16
7.38
7.37
7.29
7.49
7.50
7.29
7.40
7.57
7.42
7.62
7.68
7.59
7.91
7.76
7.61
7.94
7.83
7.95
8.39
8.15
3.96
3.98
4.47
4.51
4.64
4.68
4.85
4.91
4.91
4.95
5.04
5.10
5.25
5.34
5.10
5.29
5.60
5.47
5.68
5.83
5.93
5.84
6.26
6.07
6.19
6.35
6.13
6.21
6.58
6.37
6.79
6.91
4.85
5.25
5.36
5.65
5.74
5.86
6.05
5.84
5.85
6.06
6.07
6.02
6.32
6.27
6.51
6.77
8.26
9.03
4.34
4.62
5.35
7.82
8.53
9.24
4.50
4.55
5.82
8.62
8.78
9.55
4.56
4.62
6.09
9.86
8.78
9.57
4.58
4.62
6.14
9.86
8.86
9.67
4.58
4.62
6.14
9.86
8.90
9.72
4.58
4.62
6.14
9.86
8.91
9.73
4.59
4.62
6.23
9.86
8.93
9.77
4.59
4.62
6.23
9.86
8.95
9.78
4.61
4.63
6.37
9.86
9.03
9.90
4.61
4.66
6.37
9.86
9.03
9.90
4.61
4.66
6.37
9.86
9.03
9.90
4.62
4.67
6.41
9.86
9.04
9.90
4.62
4.67
6.61
9.86
9.05
9.90
4.62
4.67
6.61
10.12
9.06
9.92
4.63
4.67
6.61
10.20
8.99
9.92
4.63
4.10
6.70
10.20
246.54
290.05
101.87
95.91
264. 62
315. 86
98.37
101. 00
289. 86
343. 13
107. 33
115.18
276. 28
326. 90
104. 04
111.24
273. 42
321. 13
106. 49
114.80
262. 20
309.17
101.51
106.17
271. 57
324. 26
99.88
104.88
277. 63
330. 61
99.64
102. 33
277.23
330. 32
99.81
100.84
264. 58
315. 83
94.53
92.40
249. 38
296.79
92.47
85.98
259. 67
310. 95
91.13
87.16
252. 76
302. 90
86.29
87.15
263.28
314. 69
92.25
87.36
252.78
301.65
85.98
80.73
248.68
299.54
84.62
76.96
3.35
3.11
4.26
4.82
3.87
3.47
3.22
2.93
4.57
4.50
3.40
3.10
3.03
2.78
4.25
4.01
3.07
2.83
3.18
2 93
140
4.15
3.26
2.76
3.24
3.01
4.30
4.02
3.21
2.85
3.39
3.14
4.51
4.35
3.54
3.02
3.28
3.00
4.60
4.41
3.42
3.25
3.22
2.96
4.61
4.51
3.49
3.27
3.23
2.96
4.62
4.59
3.70
3.18
3.41
3.13
4.88
5.04
3.91
3.62
3.62
3.34
4.99
5.42
4.28
3.99
3.48
3.18
5.07
5.36
3.80
3.87
3.58
3.27
5.35
5.36
4.03
3.61
3.44
3.15
5.01
5.35
3.61
3.19
3.58
3.29
5.38
5.78
3.95
3.28
3.62
3.31
5.47
5.33
3.92
3.65
2
Stocks
Dividend rates, prices, yields, and earnings, common stocks (Moody's) :
Dividends per share, annual rate, composite
dollars __
Industrials. _
do
Public utilities..
do..
Railroads
do
N.Y. banks
do
Fire insurance companies
do
Price per share, end of mo., composite
Industrials
Public utilities
_ _
Railroads
Yields, composite
Industrials _
Public utilities
.
Railroads
N.Y. banks _
Fire insurance companies
do
do
_ do _
do
percent-do
do
do
do
do
Earnings per share (indust., qtrly. at arm. rate;
pub. util. and RR., for 12 mo. ending each qtr.) :
Industrials
dollars
20.17
15.76
17.62
Public utilities
do
6.67
6.67
6.67
Railroads
_
do ...
7.25
6.74
7.25
' Revised.
i End of year.
2 Beginning Dec. 18,1967, Aaa railroad bonds not included.
9 Includes data not shown separately.
d"Number of bonds represented fluctuates; the change in the number does not affect the
16.25
17.68
18.34
6.74
6.89
6.81
7.33
7.80
7.72
continuity of the series.
IPrices are derived from average yields on basis of an assumed 3 percent 20-year bond.
OFor bonds due or callable in 10 years or more.
SURVEY OF CUERENT BUSINESS
January 1970
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
1969
1968
Nov.
Annual
S-21
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FINANCE—Continued
SECURITY MARKETS-Continued
Stocks— Continued
Dividend yields, preferred stocks, 10 high-grade
(Standard & Poor's Corp.)
percent..
5.34
5.78
5.82
5.93
5.93
314. 79
879. 12
132. 65
242.38
322. 19
906.00
130. 02
250.09
344.39
964.12
137. 57
270. 51
347. 57
968.39
138. 26
275. 36
337.64
934 99
135. 62
268.78
337. 85 322.11 320 24
931 29 916 52 927 38
136 89 130 90 129 14
269. 75 245. 26 238 01
91.93
98.70
105.40
106.48
102.04
101.46
99.18
96.96
79.18
68.10
46.72
107. 49
105. 77
86.33
66.42
48.84
114. 77
109.75
92.04
70.59
53.74
116. 01
111.44
91.91
70.54
55.19
110. 97
106.56
87.69
68.65
54.11
110. 15
105. 47
87.93
69.24
54 78
Banks:
New York City (9 stocks)
do
Outside New York City (16 stocks) . .do
36.40
66.46
44.69
81.71
52.46
98.15
50.99
99.19
49.49
92.57
Property-liability insurance (16 stocks)_.do
62.29
73.64
95.35
98.30
50.77
51.97
53.51
45.43
49.82
55.37
58.00
50.58
44.19
65 85
59.44
61.97
55.96
47 18
79 55
161, 746
4 504
125 329
2 886
Prices:
Dow-Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Railroad (20 stocks)
Standard & Poor's Corporation :d*
Industrial, public utility , and railroad:
Combined index (500 stocks)
1941-43=10..
Industrial, total (425 stocks) 9
Capital goods (130 stocks)
Consumers' goods (181 stocks)..
Public utility (55 stocks)
Railroad (20 stocks)
do
do
do
do ...
do
New York Stock Exchange common stock indexes:
Composite
12/31/65=50..
Industrial
do
Transportation
do
Utility
do
Finance
.
do
Sales:
Total on all registered exchanges (SEC):
Market value
mil $
Shares sold..
millions
On New York Stock Exchange:
Market value
mil $
Shares sold (cleared or settled)
millions
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
(sales effected)
millions
Shares listed, N.Y. Stock Exchange, end of period:
Market value, all listed shares
bil. $..
Number of shares listed
millions
5.94
6.09
6.14
6.44
6.61
6.79
6.84
7.19
325 88 305.86 286.41 279. 78
954 86 896.61 844 02 825.46
130 83 124.48 120 40 115. 76
238.15 221. 99 202.88 199. 24
279. 05
826. 71
113. 35
199.06
280.44
832.51
115. 12
198. 39
281. 02
841. 09
116.04
195. 47
259.88
789. 22
108. 36
175. 32
6.33
6.20
6.42
101. 26
104.62
94.18
94.51
95.52
96.21
91.11
108.20
103.76
86.69
66.07
50. 46
110 68
105 54
88 21
65.63
49 53
114.53 108.59 103. 68
108.66 102.68 100.55
91 57 88.12 83.04
66.91 63.29 61.32
49 97 46.43 43 00
103. 39
100.90
83.44
59.20
42.04
103. 97
102.27
85.26
57.84
42.03
105. 07
103. 67
87.29
58.80
41.75
105.86
104.68
89.84
59.46
40.63
100.48
100.31
85.62
55.28
36.69
49.52
94.50
46.10
90.89
47.04
93 39
46.69
92.78
43.55
85.81
41.98
82.49
41.87
80.41
44.40
83.47
44.47
85.73
46.00
88.09
43.55
82.57
95.61
96.80
88.29
86.47
86.04
79.17
74.54
72.83
76.91
88.52
94.19
85.85
60.32
63.21
57.30
46 73
79 00
57.82
60.32
56.35
45.64
75 58
57.33
59 61
56.18
45 98
75 26
55.69
58.30
51.52
44 06
70 60
56.61
59 41
50 88
44 34
72 38
58.50
61 50
50.46
45 75
75 10
55.20
58.07
47.70
43 39
68 62
52.40
55.00
42.80
42 31
64 56
52.09
54.85
41.45
41 34
65 29
52.37
55.29
42.72
40.20
68 16
53.27
56.22
43.12
40.55
71.71
53.85
56.84
42.59
41.36
71.62
50.86
53.93
37.77
38.69
66.95
196, 358 16 165
5 312
412
18 864
508
17, 957
515
15 187
407
13 234
366
13 911
379
18, 189
502
14,860
420
12,685
359
12,429
355
17, 152
483
13, 352
376
144 978 11 979
3 299
261
13 844
314
13 056
305
11 007
247
12, 392
367
9 561 9 405
240
246
9 357
233
12,831
320
10 000
249
202
219
310
214
272
611. 15 641.58 627. 50
14, 505 14, 761 14, 833
661. 44
14, 918
640. 16
14, 986
629.45
15,082
99.30
9 755 10 094
237
239
2 530
2 932
252
268
267
210
199
237
605.82
11, 622
692. 34
13, 196
716.40
13 042
692. 34
13,196
689.24
13, 326
654.51
13 448
672. 59
13 657
691. 07
13 806
99.14
13 081 10 847
305
*264
257
235
693. 14 650.50
14 050 14,400
94.71
228
FOREIGN TRADE OF THE UNITED STATES
FOREIGN TRADE
Value
Exports (mdse.), incl. reexports, total
Excl. Dept. of Defense shipments
Seasonally adjusted
By geographic regions:
Africa
.
Asia
Australia and Oceania
Europe
do
do
do
do
do
do
Northern North America
Southern North America. .
South America _
By leading countries:
Africa:
United Arab Republic (Egypt)
Republic of South Africa
"
Asia; Australia and Oceania:
Australia, including New Guinea
India
.
Pakistan...
Malaysia
Indonesia
Philippines
Japan
mil. $.. 31,526.2 134,635.9 3,193.4 3,094.7 12,111.3 2, 179. 1 3,418.0 3,565.9 3, 594. 8 3,170.0 3,045.6 3,227.3 3,186.0 '3,625.5 3,471.2
_.
Europe:
France
East Germany
West Germany
Italy
Union of Soviet Socialist Republics
United Kingdom
do
do
do
30,934.4 134,062.8 3,133.5 3,045.6 12,056.7 2, 144. 7 3, 366. 7 3,506.9 3, 543. 3 3,099.9 2,997.9 3, 165. 4 3,112.7 '3,570.0 3, 415. 2
2,972.3 2,977.4 12,093.3 2,296.7 3,196.0 3,354.7 3, 291. 8 3,212.8 3, 171. 5 3, 385. 1 3,325.9 '3,368.9 3,367.1
131.2 130.4 109.4 123.1 122.9
691.7 738.0 717.3 769.5 768.8
96.0
96.6
77.1 110.7
78.4
999.2 1, 110. 7 1, 015. 3 1,210.3 1,184.5
836.3
247.2
271.4
788.3
226.7
260.6
655.2
228.7
261.2
661.3
227.3
263.0
801.6
223.6
241.8
889.4
273.9
258.8
806.3
244.1
248.5
94.6 142.2
702.8 1410.9
77.2 152.3
996.5 1657.7
48.7 126.4 145.8 144.7
718.5 804.4 767.9
400.4
93.2 122.7
90.0
36.8
702.8 1,182.3 1, 179. 7 1, 237. 3
791.5
221.3
277.4
702.3 1687.6
236.1 1 158. 9
265.5 1 101. 8
687.3
179.2
123.8
788.9
243.0
265.7
794.3
243.9
275.1
7, 165. 9 8,059.8
2,362.7 2,585.0
2,354.0 2, 742. 2
66.0
426.4
48.4
455.2
3.1
43.1
3.9
32.9
11.4
119.9
1.0
24.0
3.5
49.1
8.3
52.7
5.3
43.8
13.9
40.4
7.0
44.0
5.2
51.4
4.2
38.2
7.5
50.8
5.2
40.7
do
do
do
do
895.4
955.4
347.3
49.2
874.9
717.6
301.9
53.6
66.9
51.0
33.2
3.8
66.4
62.7
28.6
4.2
147.2
118.7
18.6
11.8
29.9
11.7
3.8
1.9
86.5
48.9
19.4
4.1
107.6
57.5
17.9
6.1
76.8
60.3
13.2
3.9
58.0
69.5
16.2
4.7
67.4
77.8
12.9
3.9
77.4
46.2
13.4
4.1
64.7
31.6
16.5
5.8
93.6
19.6
18.2
4.1
85.5
27.9
31.8
4.3
do
do
do
68.4
430.4
2, 695. 0
169.2
436.3
2,949.8
23.3
32.3
276.7
23.5
18.7
28.8 120.6
274.9 1 193. 2
4.6
22.9
211.7
10.0
45.6
285.7
16.8
41.7
300.0
19.6
39.3
293.1
20.6
31.3
264.4
16.7
30.1
274.0
16.3
32.1
329.8
15.1
23.7
304.4
28.4
28.5
352.7
28.3
29.6
335.3
do
do
...do
1, 024. 5
26.3
1, 705. 7
1,077.7
29.2
1, 711. 8
102.2
3.4
142.3
95.7
4.0
160.0
158.5
1.2
191.2
76.7
1.2
101.5
123.9
2.5
178.5
124.6
2.1
182.2
124.6
2.1
243.5
90.1
1.4
159.8
94.9
3.7
169.1
96.7
.4
169.7
88.0
1.8
224.3
101.9
5.1
207.8
96.3
4.0
193.2
972.8 1, 119. 6
57.5
60.3
1, 959. 6 2, 179. 7
93.4
6.9
223.6
100.6 158.0
6.0
14.1
186.0 1 162. 3
78.3
5.5
125.3
114.1
10.0
229.3
103.7
8.4
208.8
130.2
10.8
231.5
97.5
7.5
197.7
101.5
5.8
163.6
119.4
14.5
203.4
106.2
9.0
184.1
124.7
13.4
221.6
121.0
5.1
211.7
do
do.I.I
do
do
do
North and South America:
Canada
mil $
7, 164. 7 8,058.3
791.5 702.3 1687.6
' Revised.
1 Beginning Jan. 1969, data cover shipmeiits of sil\rer ore, mse bul lion
(incl. sweepings, waste, and scrap), and refined bullic)n, former ly exclud ed.The] 968 annu als,
and monthly data beginning Jan. 1968, for total expor ts and imi>orts only have bee n restate dto
125.5
710.0
67.5
991.4
1,182.3 1,269.5 109.6
7,146.3 7, 579. 6 690.0
1,017.4 1,025.9
78.5
10,297.7 11, 151. 3 1,016.0
661.3 801.5 889.3 806.2
687.3 788.8 794.3 836.3 788.2 655.2
cfNumt >er of stocks repre^ents nuimber currently iised; the
reflect the rev ised cove/rage,
9 Includes data no t shown
chang e in nurnber doe s not af feet cont inuity o r the sen es.
sepanitely.
SUEVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
| 1968
Annual
1968
Nov.
January 1970
1969
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
464.6
37.1
56.7
25.9
30.6
145.9
64.9
433.8
35.7
60.6
25.2
28.5
135.8
59.8
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value— Continued
Exports (mdse.), incl. reexports— Continued
By leading countries— Continued
North and South America— Continued
Latin American Republics, total 9
Argentina
Brazil
_
Chile
Colombia
Mexico _
.
Venezuela
Exports of U.S. merchandise, total
Excluding military grant -aid
Agricultural products, total
Nonagricultural products, total _
mil. $.. 4, 123. 5
do
230.1
do
547.2
do
248.1
do
217.9
do
1,221.6
do
587,2
.do
do
do
-do
By commodity groups and principal commodities:
Food and live animals 9
mil. $
Meats and preparations (incl. poultry). .do
Grains and cereal preparations
do
31, 142. 1
30, 550. 2
6, 379. 8
24,762.3
4, 689. 2
281.4
708.6
307.1
319.1
1, 364. 6
655.0
436.8
41.3
87.0
24.7
29.7
112.5
60.7
447.8 1222.9
35.7 i 11.8
71.0 122.6
29.4
19.3
25.3 110.0
127.9 i 101. 8
63.9 136.2
256.7
17.8
26.5
8.8
10.8
102.5
39.1
440.5
40.1
66.3
32.9
23.0
120.7
62.0
450.7
34.1
67.8
28.1
33.3
117.8
68.7
450.6
33.0
62.0
26.9
32.3
120.6
73.2
431.3
30.3
66.9
25.2
30.7
117.2
66.5
433.4
32.2
76.0
29.6
22.4
119.0
61.7
431.2
34.4
58.1
37.4
27.1
116.0
65.6
409.1
36.2
55.6
30.8
25.6
114.6
57.7
134,199.0 3,158.9 3,056.3 12,0715 2, 146. 8 3, 372. 8 3, 516. 6 3, 550. 2 3, 122. 6 3, 003. 2 3, 174. 3 3, 142. 7 '3,581.5 3, 419. 5
133,626.0 3,099.0 3,007.2 12,016 8 2, 112. 4 3, 321. 5 3, 457. 6 3, 498. 6 3, 052. 4 2, 955. 5 3, 112. 5 3, 069. 4 '3,525.9 3, 363. 5
657.8
646.0
6, 228. 0
583.7
438.4
609.5
177.7
239.6
516.9
601.9
512.3 499.8
610.8
471.5
1
27,753.7 2, 541. 0 2,445.3 11,893.8 1, 907. 2 2, 855. 9 2, 914. 7 2,966.5 2, 610. 2 2, 503. 4 2, 735. 9 2, 671. 3 ••2,935.5 2, 761. 7
372.5
23.9
195.0
373.5
18.5
222.8
4, 060. 9
151.3
2, 677. 9
3, 889. 6
161.6
2, 463. 1
336.3
21.6
200.4
366.3
16.9
237.8
129.5
10.8
53.0
168.2
12.2
81.1
322.9
18.3
174.8
350.4
17.3
204.7
362.8
21.7
214.5
354.1
15.8
209.5
333.0
15.9
211.1
312.9
13.8
181.9
318.0
16.4
182.8
648.7
702.5
82.5
76.1
13.5
12.6
52.2
45.5
74.1
69.7
53.2
57.5
73.6
80.4
88.7
366.8
14.4
137.2
62.7
106.7
65.5
36.6
Beverages and tobacco
do
Crude materials, inedible, exc. fuels?
Cotton, raw, excl. linters and waste
Soybeans, exc. canned or prepared
Metal ores, concentrates, and scrap
do
do
do
do
3, 279. 7
463.8
771.6
519.5
3,540. 7
459.4
810.0
1
539. 2
352.7
22.2
132.3
50.6
Mineral fuels, lubricants, etc 9
Coal and related products
Petroleum and products
do
do
do
1, 104. 1
501.4
538.6
1,049. 9
523.9
460.0
91.8
46.8
39.7
325.4 1 139. 1
33.2
7.2
2.9
101.9
38.5 125.6
90.0
46.5
40.1
73.8
42.4
25.5
176.8
6.5
31.3
30.3
298.7
14.8
100.0
40.8
384.4
64.1
94.0
61.0
343.1
41.3
63.1
66.9
262.9
23.2
37.0
64.2
301.0
36.1
49.2
71.7
292.4
17.3
33.2
86.3
274.4
16.2
35.3
75.3
393.6
19.1
137.1
71.5
61.3
34.0
23.4
76.1
33.5
33.7
95.0
49.1
40.3
110.6
64.3
42.3
107.8
62.3
41.3
93.8
56.1
34.0
105.4
55.7
44.0
98.4
54.0
39.7
103.7
61.7
37.4
Animal and vegetable oils, fats, waxes
do
337.9
274.4
20.1
28.5
14.0
15.3
22.2
31.5
25.4
28.9
27.1
20.5
24.6
27.0
34.7
Chemicals
do
2, 801. 6
3,287. 0
272.8
276.7
166.6
181.8
300.5
331.0
335.9
286.7
298.5
310.3
282.6
298.7
289.9
Manufactured goods 9
Textiles
Iron and steel
Nonferrous base metals
do
do
do
do
3, 391. 1
530.9
561.9
516.8
3,939.4
522.3
610.2
i 600. 8
358.7
46.0
65.1
62.4
346.7 i 214. 9
24.0
42.4
34.7
66.9
54.6 134.8
243.9
30.5
38.1
36.6
409.4
60.0
78.3
58.8
406.2
54.3
78.4
63.6
430.1
56.2
81.0
57.8
375.2
47.2
72.5
62.2
374.8
43.9
81.8
62.2
410.9
51.6
85.2
66.3
395.9
47.1
84.5
68.6
453.3
54.7
110.8
67.6
411.3
54.2
107.4
62.2
total
mil. $.. 12, 574. 1 14,447.4
1,382.3
Machinery and transport equipment,
1,275.1 1, 095. 6 1, 071. 2 1, 539. 6 1, 572. 9 1, 557. 4 1,326.0 1,244.5 1, 332. 3 1,334.1 ••1,507.4 1,391.4
857.9
941.8
847.5
554.4
815.1 805.6
590.3 943.1 931.2
808.8 r 928. 0
718.5
50.0
70.0
55.5
46.7
35.7
55.3
59.1
47.3
55.3
45.0
63.6
70.7
31.7
32.3
33.6
26.3
28.1
16.3
16.2
29.1
28.5
38.3
21.8
28.7
117.0
117.5
116.4
114.3
57.2
106.7
102.4
105.8
94.2
67.6
110.9
120.6
261.2
165.2
238.3
215.5 213.5
229.6 258.1 227.9
194.4
168.7
249.2
238.8
Machinery, total 9
Agricultural
Metalworking
Construction, excav and mining
Electrical
do
do
do
do
do
8, 050. 6 8, 606. 4
614.7
626.7
338.9
333.8
1, 038. 1 1, 099. 1
2, 098. 2 2,284. 0
761.8
54.3
24.0
97.2
199.1
Transport equipment, total
Motor vehicles and parts
do
do
4, 523. 5
2, 733. 9
5,850. 1
3, 372. 3
621.9
353.0
558.0
318.8
541.2
284.7
481.0
264.1
596.5
351.4
641.6
345. 9
615.6
357.3
511.0
317.4
438.9
235.0
484.8
245.4
525.3
352.2
579.5
373.6
533.4
342.7
Miscellaneous manufactured articles
do
1, 985. 4
2,144. 2
192.5
174.1
149.5
159.6
241.2
224.0
223.2
195.7
197.3
222.6
209.3
225. 1
201.0
Commodities not classified
do
958.8
924.0
69.2
97.3
75.0
56.1
110.0
75.7
87.5
115.6
80.2
109.5
131.7
119.8
155.4
General imports, total
Seasonally adjusted
, _
By geographic regions:
Africa
Asia
Australia and Oceania
Europe
Northern North America
Southern North America
South America __
By leading countries:
Africa:
United Arab Republic (Egypt)
Republic of South Africa
Asia; Australia and Oceania:
Australia, including New Guinea
India
Pakistan
Malaysia
Indonesia
Philippines
Japan
Europe:
France _.
East Germany
West Germany
Italy
Union of Soviet Socialist Republics
United Kingdom
North and South America:
Canada
Latin American Republics, total 9
Argentina
Brazil _
Chile
_._
Colombia
Mexico
Venezuela
r
Revised.
i See note 1, page S-21.
9 Includes data not shown separately.
do
26, 812. 3 133,226.3 2,803.8
do _
2,883.0
3,010.2 12,025.9 2, 401. 4 2, 993. 0 3, 334. 3 3, 236. 5 3, 216. 2 3, 153. 9 2, 909. 6 3, 131. 7 3, 430. 4 2, 989. 1
2,907.6 12,018.1 2, 655. 3 2, 980. 7 3, 177. 2 3, 276. 1 3, 187. 5 3, 066. 3 3, 180. 2 3, 055. 0 3, 221. 9 3, 213. 7
do
do
do
do
906. 1 1, 120. 9
5, 347. 9 6, 913. 5
581.5
693.5
8, 227. 5 10, 331. 6
83.1
604.1
65.9
863.1
93.8 139.7
616.6 i 405. 8
35.6 128.9
917.3 i 443. 4
74.0
532.4
29.9
603.2
96.1
100.4
107.3
720.5
675.7
770.0
62.1
83.2
80.6
833.2 1, 020. 6 1, 036. 4
80.7
726.1
66.6
977.3
90.1
770.1
81.7
991.9
69.4
774.7
106.8
846.4
82.0
763.4
79.6
873.7
93.9
778.3
81.5
979.9
96.9
657.2
54.8
861.0
do
do
do
7, 112. 3
1, 967. 8
2, 661. 1
8, 929. 3
2, 234. 7
2, 880. 2
791.4
171.3
215.2
870.3 i 776. 7
201.8 1 192. 1
280.4 1 138. 1
776.0
191.0
193.5
844.4
226.7
227.9
882.0
235.2
236.6
878.7
231.9
208.9
913.7
218.8
232.6
778.0
206.0
235.4
714.9
184.2
212.6
904.8 1, 025. 4
217.3
183.6
253.7
243.9
870.7
198.4
205.8
do
do
14.9
225.9
32.8
253.1
2.7
17.6
12.5
110.8
2.8
14.3
4.4
25.9
4.5
19.8
2.5
24.4
2.5
21.3
3.2
19.4
1.4
17.9
3.6
24.3
3.9
23.1
1.9
18.0
do
do
do
do
do
do
do
411.8
293.7
54.8
195.6
181.9
380.2
2, 998. 7
492.0
312.2
63.9
240.1
174.5
435.1
4, 056. 6
52.9
27.0
4.9
22.3
14.9
30.5
363.5
22.5
24.7
11.0
25.2
12.0
7.4
17.3
22.5
10.6
16.5
40.2
15.8
366.1 i 244. 0
24.4
22.7
4.6
28.3
16.0
29.5
294.8
59.5
46.2
11.4
27.0
16.3
37.5
367.0
46.4
36.8
6.8
31.6
20.4
54.2
450.9
43.2
28.9
5.3
26.0
16.1
28.4
437.6
46.9
27.6
6.1
22.2
14.8
40.0
422.1
60.0
30.7
6.5
22.9
18.0
37.0
467.3
83.9
32.1
7.5
24.0
16.1
46.3
453.8
54.6
30.2
5.1
27.8
15.3
30.0
461.8
66.1
26.0
5.0
32.3
16.4
30.6
478.6
37.4
24.3
6.0
24.6
16.8
23.1
410.8
do
do
do
do
do
do
690.2
5.6
1, 955. 4
855.6
41.0
1, 709. 8
842.2
5.9
2, 720. 2
1, 102. 0
58.0
2, 047. 9
65.6
.5
231.3
95.4
1.8
157.8
82.5 136.5
1.5
.7
229.1 1 105. 8
98.8 153.7
3.5
14.6
177.4 1 108. 6
47.9
.4
142.2
71.5
2.5
140.1
64.2
1.0
207.2
85.4
4.6
149.0
86.6
.7
263.0
125.8
5.6
192.1
82.6
.6
247.0
124.2
3.1
220.4
82.3
.8
240.4
113.7
4.9
197.9
85.5
.7
261.9
117.3
2.6
201.7
76.8
.6
217.7
112.7
4.6
169.0
66.1
.6
209.5
103.3
4.1
182.7
72.1
.8
246.6
105.0
6.7
205.7
67.7
.7
223.9
100.4
5.0
181.1
do
7, 106. 6
8, 925. 2
791.3
869.9 i 776. 6
775.9
844.1
881.9
878.6
913.7
777.6
714.2
904.5 1, 024. 6
914.5
4, 266. 2
206.7
669.6
203.1
264.0
893.4
949.6
326.0
14.9
53.0
11.7
23.2
73.5
70.0
401.6 i 247. 1
38.5
16.1
54.5 U4.8
14.3
12.4
25.8
18.6
79.3 180.7
89.2 184.3
371.8
14.3
56.9
11.2
20.1
94.2
70.7
387.5
16.8
55.0
13.2
24.4
93.5
74.8
377.0
14.6
63.1
11.8
22.6
94.2
79.8
363.2
15.1
63.9
11.1
21.0
77.6
76.8
324.6
12.6
51.9
12.2
16.1
72.0
83.1
348.7
14.9
53.5
20.8
24.1
66.8
82.1
388.4
12.8
60.5
12.3
23.3
87.3
86.6
337.1
13.0
63.3
11.2
20.5
87.6
57.3
do
do
do
do
do
do
do
3, 851. 0
140.0
559.0
175.2
240.4
748.9
979.6
3.4
22.2
309.3
10.9
38.6
20.3
14.5
81.4
75.1
356.3
12.6
41.4
15.9
17.7
94.9
73.3
Dec.
SURVEY OF CURRENT BUSINESS
January 1970
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
1968
Nov.
Annual
S-23
1969
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value— Continued
General imports— Continued
By commodity groups and principal commodities:
Agricultural products, total
mil. $
404.0
4, 471. 7 5 057 2
460.9
422 3
172 1 312 1
492 6
399 0
394 5
439 5
499 0
453 0 441 1 437 8
N onagri cultural products, total
do
22, 340. 6 28, 056. 8 2 372 8 2 577 9 1 853.8 2 089 3 2 500 4 2 835 3 2 783 5 2 775 1 2 716. 1 2 510 6 2 737 2 2, 969. 5 2, 541. 2
287 1
15 3
49 0
45 4
34 7
28 6
232 3
51 1
40 7
12 2
20 7
439 0
20 5
89 1
96 4
50 9
63 8
307 4
63 0
39 8
28 8
25 4
438
10
95
74
66
68
337
81
44
36
23
4
4
8
7
2
1
5
7
7
0
2
396 7
14 1
71 6
67 1
58 6
89 1
303 8
90 0
39 8
29 6
22 6
398 9
11 9
75 4
70 4
73 0
86 8
293 7
83 0
45 3
25 3
23.1
414 4
18 6
72 0
84.4
78 0
62 8
294 1
93 6
43.8
22 3
19.4
363 7
15 4
62 0
94.4
56 5
54 1
290 8
91 6
40.3
23 8
26 9
368 6
55
75 3
91 0
44 7
67 1
288 8
92 2
42.7
16 8
25.2
430 1
11.2
103.5
88.1
57.3
93.0
320.7
112.8
52.0
16.7
30.4
369.4
16.5
99.9
54.5
34.1
72.7
275.2
90.5
47.4
18.4
26.2
231
209
12
81
5
0
5
8
226.4
208.6
11.7
111.3
240.7
224.1
11.2
124.9
219.4
198 7
13.6
108.5
212 6
196 3
8.6
114 5
221 3
202 5
11.0
102 1
227.6
205 0
10.2
99 2
229 2
212 9
10.2
99 7
247.4
223 1
13.9
120.4
201.4
185.5
11.7
101.8
1398 6
64.6
67.7
i 79 5
45.3
533 1
72 8
71.0
137 6
69 2
653.1
119.2
74.4
135 9
112. 9
784.2
187.3
78.5
159.0
107.0
761.5
208.6
74.0
138.7
91.5
726 0
180 8
83.3
136 5
88.2
728 7
179 1
81.3
129 7
86 6
646 1
160 3
74.5
116 8
93 4
707 5
176 6
82.6
134 0
87 2
698 4
169.7
84.6
129 6
84.5
620.2
137.7
79.6
122.4
73.2
806 4
356 7
17.4
151.4
612.3
255.5
8.4
118.6
655 9
291.8
10.2
127.4
766 1
351 2
17.4
137.2
872.0
407.1
18.7
159.1
895.9
398.9
19.8
157.8
889 9
401 8
17.0
161.7
789 7
391.0
15.8
171.0
716 9
388 2
16 4
174.0
845 6
394.9
16.9
179.3
964 8
436.7
13.0
204.3
874.0
383.4
13.2
179.1
451.4
397.9
301.6
114 3
356.8
307.0
204.4
88.7
364.1
315 0
252.1
86 4
414.9
358 7
316.1
98 2
464.9
408 4
348.3
109.2
497.0
429 2
335.6
112.4
488.1
431 8
365.9
119 3
398.7
334 8
409.7
120.0
328.6
274 5
392.7
108 3
450.7
400 2
393.4
121.5
528.1
473 2
413. 9
127.8
490.6
440.9
349.2
113.6
Food and live animals 9
Cocoa or cacao beans
Coffee _ _ _
Meats and preparations
Sugar
Beverages and tobacco
Crude materials, inedible, exc. fuels 9
Metal ores
Paper base stocks
Textile
fibers
Rubber. _
_
do
do
do
do
do
do
do
do
do
do
do
4 003 2
147.2
962.7
645.0
588.4
698.1
2, 964. 4
974.3
418.3
305.6
174.5
Mineral fuels, lubricants, etc
Petroleum and products
Animal and vegetable oils and fats.
Chemicals
do
do
do
do
2, 247. 8 2, 526. 7
193 1
2, 086. 1 2 345 1
179 1
122.0
157.8
10.3
958.0 1 129 1 94 0
234 0
220 7
16 6
101 7
249.1
235 2
6.1
70 3
Manufactured goods 9
Iron and steel
Newsprint
Nonferrous metals
Textiles
do
do
do
do
do
6 384 3 8 162 4
1, 373. 1 2 046 4
864.7
862.8
1 562.5 1 933 2
808.0
962.6
636 5
177 7
69.0
110 7
77 4
667 3
165 9
84 8
121 0
75 8
Machinery and transport equipment
Machinery total 9
Metalworking
Electrical
do
do
do
do
5 793.4
3, 024. 4
203.4
1, 135. 5
7 986 9
3 692 6
203.9
1, 494. 9
744 4
325 0
11.3
145.5
2, 769. 1 4, 298. 5
2, 266. 1 3 711 6
2, 576. 2 3, 346. 1
1, 065. 1 1,207 8
419.4
384 4
291.7
107.4
Transport equipment
do
Automobiles and parts
do
Miscellaneous manufactured articles
do
Commodities not classified
do
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Quantity
1957-59=100
Value
do
Unit value
do
General imports:
Quantity
do
Value
do
Unit value
do
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight
thous sh tons
Value
mil. $
General imports:
Shipping weight
thous. sh. tons
Value
_._
mil. $
4 577 3
136 0
1 139 7
746.5
640 1
786 3
3 345 7
958.4
454.8
338 4
191.8
5
5
5
396 8
63
95 7
72.5
43 7
61 8
267 7
75 6
37.4
25 2
16.5
169 8
396 6
14
12 2
16 1
87 4
29.2
49 3
6 3
56 9
24 6
77 5
294 2 ^202 0
75 9 157 8
36.7
43 1
25 9
9 0
10.7
19 9
173
195
112
179
203
113
150
173
115
202
232
115
P182
p212
pl!7
184
190
103
6
226
5
235
6
237
249
105
200
211
106
266
282
106
j>241
P258
pl07
187 426
18, 636
194 482
19,359
17 764
1 762
18 116
1,666
9,964
580
9 440
739
256, 814
17, 434
282 751
21,139
21 554
1,719
25 373
1,817
20,680
869
19,909
1,242
s5 160
178
5111
6
6
5
104
17 422
2 000
19 349
2,032
18 093 18 014
1 733 1 738
18 475
1 800
17, 310
1,694
19 529
1,995
20 826 24 724
1 793 2 075
24 844
2,029
22 636
1 976
24 619
2,044
23 890
1,913
26, 020
1,915
28, 790
2,052
147 0
139 7
45 3
147 2
147 4
46 0
11 7
94
143 9
151 0
45 5
9.4
7.1
150 8
159 6
50 8
96
7.0
14 081
1 787
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers
Scheduled domestic trunk carriers:
Financial operations (qtrly. total):
Operating revenues, total 9
mil. $_.
4,470
Transport, total 9
do
4,431
Passenger
do
3,936
Property
_._
_
do..._
277
U.S. mail (excl. subsidy)
___do
104
Operating expenses (incl. depreciation)_._do
4,059
Net income (after taxes)
_
do
234
Operating results:
Miles flown (revenue)
mil.. 1,274. 5
Express and freight ton-miles flown do
1,285.9
Mail ton-miles
flown
do
392.5
Passengers originated (revenue)
"-Idol...
99.3
Passenger-miles flown (revenue)
..biL.
71.3
Express Operations (qtrly.)
Transportation revenues
Express privilege payments
_
mil. $
do.._I
Local Transit Lines
Fares, average cash rate
__. cents
Passengers carried (revenue)..
mil..
Motor Carriers (Intercity)
Carriers of property, class I (qtrly. total):
Number of reporting carriers. _.
Operating revenues, total...,
mll~$~"
Expenses, total
*___
~ do
Freight carried (revenue)
_._.". _"mil." tons" I
423.1
104.0
5,091
5,046
4,488
330
129
4,770
126
1, 501. 7
1, 540.1
544.0
111.2
82.0
2 1,249
8,329
8,012
478
2 1,249
9,523
9,047
523
1,295
1,284
1 143
1,476
1,464
1 310
95
37
84
32
92
34
1 260
1 282
— 15
1 360
—8
125 0
143.5
50 6
132.4
136.2
61.7
132.4
130.9
46.6
119.4
119.2
43.1
8.5
6.0
9.9
7.6
9.3
7.0
8.3
6.0
381.5
86.2
22.7
6,616
1,281
1,272
1,117
98.5
22.5
125 2
132 3
48 7
96
137 1
141 8
49 1
10 1
7.1
7.4
140 9
155 3
48 6
9' 8
72
84 1
20.9
140 6
143 0
44 6
10 9
8.4
23.9
24.0
24 0
24 0
24 1
24.1
24 1
534
527
538
498
553
564
564
512
1,249
2,573
2,467
138
10 8
85
86 2
20.6
87 6
19.4
23.8
••Revised.
» Preliminary.
i See note 1, p. S-21.
2 Number of carriers filing comP™™ rep?rts for the year.
3 As compiled by the Air Transport Association5 of America
from carrier reports to the CAB.
4 Excludes excess baggage revenues.
Revised to
46
1,326
2 455
2 366
1 315
2 619
2 492
138
145
24 2
489
24 3
475
24 3
522
24.4
566
24 7
504
include trade in silver ore and bullion formerly reported separately; quarterly data do not
reflect this change.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
Annual
1969
1968
1968
Nov.
January 1970
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
178.2
178.5
Nov.
Dec.
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION— Continued
Motor Carriers (Intercity) — Continued
Freight carried, volume indexes, class I and II
(ATA):
Common and contract carriers of property
(qtrly )
average same period 1957-59—100
Common carriers of general freight, seas. adj.
1957-59=100Carriers of passengers, class I (qtrly.) :
Number of reporting carriers
Operating revenues, total
mil. $
Expenses total
do
Passengers carried (revenue)
mil
178
183
160
175
152.8
165.7
i 159
660.2
582.7
220.6
i 159
685.7
604.8
217.4
159
164.1
150 1
52.5
772
6 131. 1 T 136.0
«129.6 M33.9
•41.8 739.1
7 170. 2
7 145. 8
745.0
10,855
9,750
444
8,579
1,596
680
5
568
2,781
2,500
106
2,196
401
183
174
2,741
2,481
103
2,175
423
142
98
2,916
2,636
111
2,249
455
212
173
22,836
«759.1
5 744. 5
1.310
13,120
192.4
188.0
1.330
3,006
187.4
184.6
1.344
2,851
200.2
196.5
1.341
3,090
192.0
2188.8
167
165.3
166.4
169.0
172.4
6
171.0
171.9
173.8
72
173.3
177.8
171.5
771
Class I Railroads
Financial operations (qtrly.):
Operating revenues total 9
mil $
10,377
Freight
do
9,141
Passenger
do
485
Operating expenses
do
8,211
Tax accruals and rents
do
1,488
Net railway operating income
do
678
Net income (after taxes) .. .
do
<319
Operating results:
Ton-miles of freight (net), revenue and nonrevenue (qtrly )
bil
731.6
5 719 4
Revenue ton-miles
do
Revenue per ton-mile (qtrly. avg.)
cents..
1.269
Passengers (revenue) carried 1 mile (qtrly.) -.mil.. 15, 201
Travel
Hotels:
Average sale per occupied room
dollars
Rooms occupied
% of total
Restaurant sales index. ..same mo. 1951—100..
Foreign travel:
U.S. citizens: Arrivals
thous
Departures
do
Aliens: Arrivals
do
Departures .__
. do
Passports issued and renewed cf..
_do __
National parks, visits
do
Pullman Co. (qtrly.) :
Passenger-miles (revenue)
mil.
Passenger revenues
mil. $
COMMUNICATION (QTRLY.)
Telephone carriers:
Operating revenues 9
mil. $
Station revenues
do
Tolls, message
do
Operating expenses (excluding taxes)
do
Net operating income (after taxes) _ .
do
Phones in service, end of period
_ ..mil
Telegraph carriers:
Domestic:
Operating revenues
mil. $
Operating expenses
do
Net operating revenues (before income taxes)
International:
Operating revenues .
do
Operating expenses
do
Net operating revenues (before income taxes)
2 2, 274
2423
2 140
2106
10.69
61
115
11.35
61
118
12.03
57
110
10.70
47
113
11.80
56
106
11.80
62
119
11.32
63
128
12.80
64
122
12.03
63
138
12.90
61
126
11.59
57
119
13.09
60
118
13.04
60
122
4,387
4,334
2,773
2,358
1,686
39, 538
5,021
4,820
3,084
2,613
1,748
42,392
314
294
218
200
67
1,412
339
354
236
238
75
904
391
354
251
179
104
788
353
363
203
157
122
858
426
424
252
198
167
1,277
460
427
264
212
229
1,906
455
478
306
251
229
2,976
523
695
304
287
267
6,176
671
772
403
315
194
9,291
868
636
415
354
137
9,518
589
450
394
314
107
4,144
1,434
24.57
1,002
16.91
207
3.57
13,847
7,090
5,170
8,319
2,488
90.2
15,068
7,578
5,693
9,020
2,553
95.1
3,938
1,960
1,499
2,397
664
95.1
4,022
1,993
1,538
2,404
674
96.4
4 153
2,038
1 607
2,512
700
97.4
4,231
2,062
1,645
2,632
691
98.9
335.0
291.9
358.2
309.5
91.9
77.6
93.5
78.2
97.8
82.7
95.7
84.8
24.2
29.6
10.6
9.7
9.7
5.9
132.3
101.4
153.4
116.1
41.7
32 3
41.3
30.4
44.7
32.5
45.7
33.2
26.2
30.6
7.4
9.0
10.4
10.4
2 197. 3
13.66
68
120
12.75
55
112
94
77
93
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
Acetylene.
mil. cu. ft._
Ammonia, synthetic anhydrous.. thous. sh. tons..
Carbon dioxide, liquid, gas, and solid . do
Chlorine, gas (100% Clj)
do
Hydrochloric acid (100% HC1)
do
Nitric acid (100% HNOj)
.
do._
Oxygen (high purity)
mil. cu. ft..
Phosphoric acid (100% PaO«)
thous. sh. tons..
Sodium carbonate (soda ash), synthetic (58%
NajO)
__thous. sh. tons..
Sodium bichromate and chromate
do
Sodium hydroxide (100% NaOH)
do
Sodium silicate, anhydrous
thous. sh. tons
Sodium sulfate, anhydrous
thous. sh. tons
Sulfuric acid (100% HjSOO
do
14,877
12, 093. 0
1,047.8
58,428.4
1,735.3
6, 134. 9
248, 250
4, 926. 2
1,272
887.0
80.0
731.8
149.4
500.9
21,667
394.0
1,249
1,151
1,187
1,153
1,160
1,131
991.2 1,050.2 1,083.3 1, 136. 8 1,140. 9 1,092.8
86.5
91.6
76.6
111.1
85.2
98.6
711.3
768.7
807.4
803.4
776.5
783.0
163.8
147.7
159.8
155.1
156.7
154.0
572.8
503.5
549.5
464.5
495.9
541.8
20, 827 23, 030 22, 808 23,582 21,263 21, 952
380.5
420.1
450.1 447.8
393.0 345.1
1,242
1,140
1,203
1,007.1 1,037.3 1, 122. 9
110.4
99.4
93.5
808.4
808.6 '786.4
154.3
151.0 '150.2
541.3
479.6 519.3
23, 123 22, 751 24,021
439.1
379.7 410.7
4, 848. 9 4, 552. 6
363.6
383.3 392.5 379.6
370.2
396.6 333.1 335.5 385.1
145.1
135.3
12.1
12.0
11.3
11.1
13.1
12.0
13.3
13.7
12.9
7, 923. 7 8, 799. 4
770.8
766.7
721.9
811.5
792.6 760.2
815.5
797.8 803.4
632.2
612.6
63.8
46.3
56.6
62.8
61.2
46.5
62.7
52.5
41.9
1, 364. 0 51,471.7
120.7
117.8
134.1
124.2
133.0
125.3 130.2
116.2
112.6
28, 815. 2 528,382.5 2,357.0 2, 524. 4 2,317.0 2,238.9 2,405.8 2,509.7 2,559.1 2,337.5 2, 178. 3
368.8 410.4
374.9
13.5
12.2
12.4
824.4 * 793. 8 840.1
61.0
49.4
50.5
113.0 ' 119. 7 131.0
2,252.5 2,280.4 2, 518. 8
14, 269
12,200.2
1, 085. 3
7, 679. 9
1, 625. 1
6, 264. 6
243, 401
5, 188. 9
1,208
942.0
91.7
722.5
156.2
487.0
20,291
403.1
1,263
986.3
85.2
766.1
150.3
550.2
21,316
410.9
' Revised.
» Preliminary.
1 Number of carriers filing complete reports for the year.
J
Preliminary estimate by Association of American Railroads.
* Data cover 5 weeksother
months,
4
weeks.
«
Reflects
adjustment for extraordinary items.
5
Annual total reflects revisions not distributed to the monthly or quarterly data.
6 Figures for 1st quarter 1968 comparable with data for 1st quarter 1969.
7 Beginning with 1st quarter 1969 reporting period, motor carriers are designated class 1
if they have gross operating revenues of $1 million or over, annually; prior to 1969, class 1
carriers were those having annual operating revenues of $200,000 or over.
9 Includes data not shown separately.
cfEflective Aug. 26,1968, passports are issued for 5 years; no renewals are made.
SURVEY OF CURRENT BUSINESS
January 1970
1967
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition ol BUSINESS STATISTICS
1968
S-25
1969
1968
Annual
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS— Continued
Organic chemicals, production :cf
Acetic anhydride
Acetvlsalicylic acid (aspirin)
Creosote oil
mil Ib
do
mil gal
DDT
Ethyl acetate (85%)
Formaldehyde (37% HCHO)
Glycerin, refined, all grades:
Production
Stocks end of period
Methanol, synthetic
Phthalic anhydride
mil Ib
do
do
do
do
mil gal
mil Ib
l
l 556 4 il 651 6
30 5
31 2
1
111 4
108.8
139 0
30
88
152 9
28
10 6
141 7
35
10 7
140.4
31
88
145 2
34
89
147 9
35
10 3
147 9
36
9 g
143.5
36
99
140 9
32
10 2
144.4
30
9.0
129 5
17
9 3
134.5
29
11.0
102 8 i 138 o
138 9 i 162 0
3 686 2 14 099 6
11 8
330 8
16 0
350 5
13 1
12 3
321 1
13 0
89
323 2
10 5
18 9
356 1
12 4
11 0
349 9
10 3
13 3
371 3
80
15 8
355 7
10 3
12 7
320 4
10 2
11.4
348 7
71
357 8
16.7
381 7
26 8
26 8
49 4
30 1
29 5
55 6
67 9
28
30
51
59
4
4
4
8
31 0
31 8
46 5
56 9
27
34
50
64
29
31
51
70
22
29
51
69
2
0
2
8
28.2
26 9
51 3
72 7
28 9
28 8
51 2
65 8
26 5
32 4
51 7
58 6
31 0
31 9
54 1
58 2
8
4
3
2
4
9
3
6
r
30 3
r 30 5
56 6
61 1
31.5
30.1
353.8
32 6
520 2
715 3
347.0
29 5
580 2
i 748 3
mil. tax gal
do
do
685 1
218 4
556.1
79.0
708 1
189 2
564.4
80. 7
60 3
187 8
47.1
7.6
66 2
189 2
50.6
5.4
67.5
195 5
57.1
6.7
64 4
196 8
52.7
6.0
65 3
192 4
57.8
56 4
188 5
46.9
59 3
183 8
51.2
58 1
181 6
50.2
61 9
177 0
51.4
62 8
178 2
52.4
62 2
181 4
42.9
76 3
176 3
52.7
8.4
mil. wine gal
do
do
300 1
298 6
4 9
303 5
305 6
27
25 3
26 0
2§
27 2
27 2
27
30 7
30 3
31
28 3
27 7
37
31 0
30 2
4 5
25 3
26 0
39
27 5
27 8
35
26 8
28 2
2 l
27 6
27 3
24
28 1
27 9
27
23 2
23 3
26
28 3
28 2
27
15,294
1,629
11 025
1 119
18 956
2,607
13 584
1 303
961
27
783
107
979
56
771
92
1 304
142
955
69
1 718
1 674
1 750
1 586
1 580
95
1 389
' 125
1 091
81
125
959
93
1 421
*108
1 110
ififi
1,004
1 179
368
914
141
1,302
1 334
15
16
364
6
1
CO
C
ALCOHOL
Ethyl alcohol and spirits:
Production
_ _
Stocks end of period
Used for denaturation
_
Denatured alcohol:
Production
Consumption (withdrawals)
Stocks, end of period
FERTILIZERS
Exports, total 9 . _
thous. sh. tons
Nitrogenous materials... _ _ _ _ _ _
_ _ __do
Phosphate materials
do
Potash materials
do
Imports:
Ammonium nitrate
Ammonium sulfate
Potassium chloride
Sodium nitrate
1
1 544
1 883
1 100
1 291
77
129
317
296
162
109
261
141
210
2 711
3 557
205
12
13
254
2
20
15
261
32
19
9
236
o
20
10
268
11
24
24
354
13
45
30
433
19
29
8
396
22
13
7
176
11
12
5
156
38
9
2
235
15
16
5
328
14
13
14
491
18
4 034
4 170
070
280
336
353
560
579
540
195
108
214
325
507
4,695
4,149
331
516
340
535
360
572
351
590
381
502
395
369
398
358
339
411
277
406
316
460
354
440
379
430
Explosives (industrial), shipments, quarterly:
Black blasting powder
mil. lb__
.4
High explosives
do
1, 708. 5
1, 581. 7
177
168
do
do
do
do
_
218
Potash deliveries (K_O)
do
Superphosphate and other phosphatic fertilizers
(100%P_Ofi):
Production
thous. sh. tonsStocks, end of period
.
do
726
227
131
535
107
704
93
MISCELLANEOUS PRODUCTS
Paints, varnish, and lacquer, factory shipments:
Total shipments
_
mil $
Trade products
do
Industrial
finishes
do
Sulfur, native (Frasch) and recovered:
Production
thous. Ig. tons
Stocks (producers'), end of period
do
.4
.1
.1
.1
404.6
423.6
492.2
2 348 2 2 586 8
1 329 5 1 427 5
1,018 7 1,159.3
196 9
92 7
104 2
18,284
1,954
i 8, 817
2,790
2,775
2,790
2,940
3 006
3,129
3,150
3 134
i 585. 9
489.7
953. 7
645.4
1624.7
i 576. 4
U,038.4
i 741. 4
48
49
90
69
6
4
6
2
46.7
47 8
82.5
70 8
51.4
50.1
87.8
60 3
50
52
88
62
52.7
58.8
96.5
70 6
55
59
96
66
57
62
97
65
17 5
15 1
18.4
17 2
17 2
16 5
16 3
14 8
13 0
15 0
15 6
26.1
243.9
261.0
414 3
32.4
249.7
251.3
422 7
25.5
239.3
254.0
392 8
21.1
247.8
246.6
412 2
28.8
273.0
281.5
433 4
27 9
272.2
270.4
437 1
29.6
285.9
287.4
441 9
31.2
281.9
284.1
435 8
25.9
260.8
262.3
450 1
28 5
263.9
269 5
474 1
26 6
272.4
284 7
480 3
759
175 7
83 0
92 7
767
189 8
86 2
103 6
744
207 1
106 1
101 0
676
229 9
118 8
111 1
(3)
496.6
744
245 2
131 9
113 3
710
256 8
143 6
113 3
723
278 0
163 0
115 1
715
3,213
254 3
145 2
109 1
681
261 7
149 3
112 4
655
253 4
133 7
119 7
242 1
120 2
121 9
694
3 221
3,278
3,294
53 9
51 1
81 3
55 5
51 9
51 5
91 2
61 9
51 8
54 7
97 4
63 9
PLASTICS AND RESIN MATERIALS
Production:
Therm osetting resins:
Alkyd resins
Polyester resins
Phenolic and other tar acid resins
Urea and melamine resins
mil. Ib
do
do
do
1
1
Thermoplastic resins:
Cellulose plastic materials
do
U71.9 1 186. 2
Coumarone-indene and petroleum polymer
1
resins
mil. lb_.
289. 9 i 332. 6
Styrene-type materials (polystyrene)
do
2, 365. 4 1 2,719.3
Vinyl resins (resin content basis)
do
2, 599. 4 12,944.8
Polyethylene
„ _ .
do
3, 761. 9 14,539.1
3
0
9
5
8
4
2
9
9
5
8
7
55
50
95
66
3
8
9
4
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total t
mil. kw.-hr__ 1,317,301 1,436,029 118,040 128,431 131, 591 117, 665 126, 035 117, 115 123,232 129, 765 143, 951 142, 630 128, 515 129, 414
Electric utilities, total
do
1,214,365 1,329,443 109,108 119,302 122 463 109 110 116 679 107 974 113 880 120 455 134 789 133 319 119 469 119 980
By fuels
do
992, 847 1,106,952 91 260 99 042 101 050 88 023 95 159 85 863 90 845 99 497 113 766 112 485 101 164 101 040
By waterpower
_
_
do
221, 518 222, 491 17, 848 20 259 21 413 21 087 21 519 22 111 23 035 20 957 21 023 20 834 18 304 18 940
Privately and municipally owned util
do
986, 227 1,083,117 89, 395 96,927 99,163 87,944 94, 008 87, 372 91,836 97,935 109, 560 108, 870 97,968 98. 711
Other producers (publicly owned)
do
228, 138 246, 326 19, 713 22, 374 23,300 21 166 22 670 20 602 22 044 22 519 25 229 24 449 21 501 21 269
Industrial establishments, total
do
102, 935 106,586
8,932
9,129
9,141
9,128 8,554
9,356
9, 352 9,310
9,162
9,434
9,311 9,046
By fuels
do
99, 505 103,203 8,669
8,860
8,290
8,842
8,860
9,063
9,044
8,896
9,020
9,050
8,813 9,184
By waterpower
do
3,430
3,383
263
269
267
265
293
300
308
266
261
289
250
233
' Revised.
i Revised annual total; revisions are not distributed to the monthly data.
1
Less than 500 short tons.
3 Less than 50 thousand pounds.
cfData are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
9 Includes data not shown separately,
t Re vised monthly data for 1966-Aug. 1968 will be shown later.
SURVEY OF CURKENT BUSINESS
S-26
1967
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1 1968
1968
Nov.
Annual
January 1970
1969
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
ELECTRIC POWER AND GAS—Continued
ELECTRIC POWER— Continued
98, 673 103,027 109, 412 105, 894 105, 614 102, 255 100,883 105, 615 113, 510 118, 124 117, 375 110, 128
Sales to ultimate customers, total (EEI) mil.kw.-hr 1,107,023 1,202,321
Commercial and industrial:
242, 492 1265,151
Small light and power §
do
486, 043 1518,834
Large light and power §
do
21, 510
44,115
21, 742
44, 146
22, 533
44, 410
22,009
43, 557
21, 852
44,988
21,502
45, 344
22, 016
46, 251
24,145
47, 157
26,473
46,547
27, 370
48, 022
27,282
48,257
24, 619
48, 418
1 4, 540
4,572
331, 525 1 367,692
9,863 1 10, 302
29, 426 1 32, 162
13,640
3,102
372
28,704
941
2,696
335
436
32,608
997
2,830
268
431
37, 778
995
2,953
312
401
35,650
925
3,048
303
421
34, 244
905
2,891
314
366
31, 057
850
2,823
313
360
28,231
816
2,859
350
328
29,859
794
2,976
356
348
35,934
809
3,016
384
348
38, 103
821
3,073
385
341
37, 149
878
3,078
391
365
32, 335
948
3,075
369
Railways and railroads
Residential or domestic
Street and highway lighting
Other public authorities
Interdepartmental
do
do_
do
do
do_
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil. $ 17, 222. 7 18, 579. 9 1, 524. 0 1, 580. 1 1,664.1 1, 624. 1 1, 605. 0 1,566.7 1, 554. 1 1, 632 .3 1, 762. 3 1, 830. 9 1,825.1 1, 705. 8
GAS
Manufactured and mixed gas:
Customers end of period total 9
Residential
Industrial and commercial
thous
do
do
666
624
41
580
543
36
580
543
36
581
544
36
576
539
35
mil therms
do
do
1 437
829
589
1 1, 482
1832
1626
362
196
159
607
374
222
325
171
147
Revenue from sales to consumers total 9 mil $
Residential
do
Industrial and commercial
do
131 4
84 5
45 3
1129 0
181.8
146.2
30.7
19.0
11.2
51.3
34.1
16.3
28 6
17.4
10.7
39 034
35 836
3 152
39, 894
36, 619
3,227
39,894
36, 619
3,227
39,974
36, 692
3,234
39, 846
36, 622
3,178
mil therms
do
do
133 424 1143 222
42 811 1 44, 682
85 321 192,369
36,586
11,111
23,864
50, 357
21, 623
27, 170
35, 251
9,534
24, 465
Revenue from sales to consumers total 9 mil $
Residential
do
Industrial and commercial
do
8 124 4 18 646.7
4,294.9 14,482.4
3, 637. 9 13,943.1
2, 207. 7
1,126.8
1,021.2
3, 399. 1
2, 002. 6
1, 331. 5
2, 072. 9
1, 014. 0
1, 013. 8
Sales to consumers total 9
Residential
Industrial and commercial
Natural gas:
Customers end of period total 9
Residential
Industrial and commercial
Sales to consumers total 9
Residential
Industrial and commercial
thous
do
do
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
mil. bbl
Taxable withdrawals
do
Stocks end of period
do
Distilled spirits (total):
Production
mil. tax gal__
Consumption, apparent, for beverage purposes
mil. wine gal..
Taxable withdrawals
.mil. tax gal._
Stocks, end of period
do
Imports
mil proof gal
Whisky:
Production
mil. tax gal
Taxable withdrawals .
do
Stocks, end of period
do
Imports
mil proof gal
116. 55
106.97
10.77
122. 41
112. 41
11.56
8.46
8.26
11.92
8.90
8.48
11.56
8.99
7.88
11.91
211.77
8.82
7.66
12.33
10.98
9.40
13.00
11.43
10.06
13.37
11.28
10.25
13.36
10.17
9.15
13.57
13.09
11.96
13.55
11.98
11.44
13.12
11.61
10.80
13.05
10.81
10.14
12.81
8.54
8.28
12.38
238. 33
22.26
21.24
21.06
19.69
21.97
21.66
18.84
17.79
15.17
12.01
17.70
23.75
324. 81
345. 49
148. 20 ' 147. 62
904. 58
956. 44
68.17
75.45
34.14
12.85
950. 02
7.90
41.14
11.47
956. 44
8.14
24.31
11.31
962. 90
5.59
24.25
10.87
968.43
4.67
28.79
13.99
973.27
6.02
28.79
13.35
978. 71
6.48
30.80
12.93
981. 91
6.67
30.46
14.51
984. 51
6.94
29.59
14.31
983.82
6.83
28.41
13.90
979. 91
5.81
27.79
15.19
979. 24
6.73
33.03
17.82
980.99
11.47
9.03
153.78
97.02
856. 66
59.70
178. 05
95.27
904.35
66.50
16.41
8.76
899.65
7.00
15.24
7.31
904.35
7.29
17.01
7.39
911.26
4.87
16.10
7.44
917. 26
4.16
17.10
9.22
921. 92
5.37
17.25
8.84
927. 80
5.51
14.37
7.86
932. 30
5.75
12.07
9.05
933. 75
6.03
10.65
9.02
934.02
6.02
7.71
8.38
931. 47
5.10
12.22
16.03
10.14
12.80
930. 50 930. 93
5.89 '10.29
7.97
108.26
67.31
110. 55
66.71
10.40
6.73
8.53
4.87
8.67
4.84
8.26
5.17
10.39
6.17
9.74
5.60
9.95
5.49
11.00
6.57
10.38
6.52
9.09
5.27
10.04
5.87
11.90
7.10
10.19
8.75
4.30
1.92
12.17
10.29
5.25
2.23
1.16
1.26
5.38
.27
1.26
1.27
5.25
.22
1.13
.70
5.60
.18
1.12
.56
6.10
.10
1.23
1.05
6.23
.13
1.17
.77
6.51
.18
1.04
.87
6.51
.22
1.25
1.12
6.56
.24
.96
.73
6.70
.17
1.40
1.19
6.77
.14
1.16
1.30
6.65
.15
1.70
1.83
6.40
.31
.29
217. 46
175. 27
272. 02
1 17. 46
221. 55
181. 12
268. 30
19.98
20.75
16.44
286.82
1.54
5.51
16.00
268.30
1.68
3.63
14.95
255. 91
.75
2.93
15.28
242.63
.84
3.75
20.06
224. 83
1.19
2.92
15.89
211.75
1.91
2.48
15.59
197. 08
2.34
2.49
16.03
180. 78
2.31
1.99
12.86
169. 98
2.01
8.03
16.88
158.76
1.71
57.81
16.46
193. 87
1.75
126. 45
19.31
293. 13
2.33
2.50
362.71
372. 49
28.99
16.92
7.15
4.11
4.69
2.16
3.00
2.13
2.74
19.67
118. 03
161. 97
mil. Ib
1, 224. 9
do_
168.6
$ per lb_.
.675
1, 164. 8
117.4
.678
78.4
137.4
.680
93.4
117.4
.690
106.6
104.5
.674
95.7
115.1
.673
104.7
121.4
.673
109.6
134.5
.683
116.1
162.6
.684
111.1
195.3
.684
93.5
198.0
.686
77.2
185.6
,688
67.6
155.3
.704
75.9
125.2
,693
72.2
••104.3
.687
1, 943. 9
1, 276. 3
135.0
81.1
145.8
86.3
147.4
90.7
139.7
87.3
163.2
101.3
174.2
113.2
197.6
135.6
201.8
140.6
181.0
124.1
170.0
111.8
156.4
98.4
155.8
94.8
149.3
88.2
Stocks, cold storage, end of period
do
381.0
357.7
398.0
390.3
381.0
American, whole milk
do
296.4
318.7
334.5
318.7
344.0
Imports
do
4.5
11.6
168.2
1 151. 8
17.1
Price, wholesale, American, single daisies (Chicago)..
$ per lb._
.572
.521
.570
.548
.565
r
Revised.
< Corrected.
1 Annual total reflects revis ions not distribuited to the
monthly or quarterly data.
328.5
271.1
5.9
317.8
263.0
10.7
315.7
259.5
12.9
337.5
280.7
13.2
367.4
308.3
12.0
387.8
327.1
10.0
387.4
327.1
9.6
369.5
309.0
12.5
350.9 '328.6
274.8
294.6
14.3
3.9
Rectified spirits and wines, production, total
mil. proof gal. .
Whisky
do
Wines and distilling materials:
Effervescent wines:
Production
mil. wine gal-Taxable withdrawals
do
Stocks, end of period
do
Imports.
do
Still wines:
Production... . _
do
Taxable withdrawals
do
Stocks, end of period
do
Imports
do
Distilling materials produced at wineries.. .do
DAIRY PRODUCTS
Butter, creamery:
Production (factory)
_
Stocks, cold storage, end of period
Price, wholesale, 92-score (N.Y.)
Cheese:
Production (factory), total
American, whole milk
mil Ib
do
1, 918. 8
1, 276. 3
88.7
319.7
265.9
.630
.636
.606
.621
.594
.603
.606
.608
.587
.572
.595
§ Data are not wholly (;omparat>le on a y ear to ye ar basis because (>f change s from 01le classi? Includ es data n ot showri separat ely.
ficatio n to anot her.
SURVEY OF CURRENT BUSINESS
January 1970
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
1968
Annual
S-27
Nov.
1969
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS— Continued
Condensed and evaporated milk:
Production, case goods:
Condensed (sweetened) .
mil. Ib
Evaporated (unsweetened)
do
Stocks, manufacturers', case goods, end of period:
Condensed (sweetened).. _
mil. Ib
Evaporated (unsweetened)
do
Exports:
Condensed (sweetened)
do
Evaporated (unsweetened)
do
Price, manufacturers' average selling:
Evaporated (unsweetened)
$ per case..
Fluid milk:
Production on farms
mil. Ib
Utilization in mfd. dairy products
__do
Price, wholesale, U.S. average
$ per 100 lb__
Dry milk:
Production:
Dry whole milk
...
. mil. lb_
Nonfat dry milk (human food)
»do ^
Stocks, manufacturers', end of period:
Dry whole milk __ _
__do
Nonfat dry milk (human food)
do
Exports:
Dry whole milk
do
Nonfat dry milk (human food)
do
Price, manufacturers' average selling, nonfat dry
milk (human food)_._
$ per lb._
64.4
1,493.2
87.4
1,360.0
7.5
88.7
4.5
109.9
3.5
96.0
4.8
97.0
6.1
109.1
7.8
135.7
9.2
157.5
6.1
147.5
6.2
139.7
6.8
136.0
8.4
103.0
8.9
94.8
7.0
82.2
5.8
190.2
2.1
99.1
2.6
124.4
2.1
99.1
2.6
56.9
3.9
39.3
3.5
53.7
2.9
83.5
4.7
124.4
3.9
151.6
2.9
188.9
3.9
211.2
3.0
194.6
3.0
147.7
2.2
113.6
28.6
33.8
42.4
33.7
1.5
2.7
6.0
3.1
.9
3.7
.9
2.9
3.5
4.0
4.5
2.2
7.4
2.9
6.1
2.4
4.5
4.2
4.0
2.0
8.2
2.8
6.9
4.2
4.4
3.4
7.05
7.26
7.36
7.36
7.40
7.42
7.45
7.50
7.50
7.51
7.51
7.51
7.51
7.53
7.57
118,769
58, 587
5.01
117, 281
58.164
5.24
8,721
3.770
5.68
9,191
4.149
5.61
9,407
4.604
5.53
8,795
4.388
5.45
9,983
5.023
5.35
10,261
5.392
5.23
11,046
5.997
5.15
10,766
6.025
5.08
10, 165
5,480
5.21
9,612
4,902
5.34
9,126
4,226
5.62
9,150
4,155
5.80
8,688
74.3
1,678.6
94.2
1,604.4
6.9
90.0
7.3
116.1
6.1
118.3
5.4
112.8
6.6
131.0
4.6
146.2
10.9
176.2
8.4
178.5
6.4
141.2
5.0
111.1
4.8
83.0
5.5
79.0
5.3
74.3
6.1
98.7
7.6
78.9
7.9
'74.9
7.6
78.9
8.2
72.6
7.5
68.5
6.2
63.9
4.9
75.2
6.8
108.0
8.0
137.1
9.0
149.1
8.2
150.9
7.1
130.4
6.7
108.3
5.6
92.0
12.8
140.9
18.6
151.0
1.1
13.7
.4
15.3
.8
3.5
1.3
8.9
1.6
13.9
2.3
19.4
1.6
5.2
1.6
13.2
1.3
9.7
1.4
5.0
1.3
6.4
1.2
8.8
.5
10.4
.199
.224
.233
.234
.235
.234
.235
.235
.234
.235
.234
.234
.236
.236
.237
Exports (barley, corn, oats rye, wheat), ..mil. bu._ 1,245.4
1, 267. 4
108.3
127.2
18.4
33.4
91.9
95.6
107.6
92.0
99.5
90.3
2.5
362.7
238.8
123 9
.5
.1
.1
276.7
177 7
99.0
.7
2.4
1.7
* 197. 4
2112.7
284 6
1.3
.3
1.17
1.15
1.14
1.14
1.18
1.19
1.17
1.18
1.16
1.17
1.16
1.17
1.19
1.19
1.13
1.14
1.09
1.09
54.1
4,204
3,247
957
59.9
16.5
3,011
2 194
817
49.8
47.9
2,053
1,472
581
43.5
1.30
1.28
1.30
1.28
9,175
5.88
GRAIN AND GRAIN PRODUCTS
Barley:
Production (crop estimate)..Stocks (domestic), end of period
On farms
Off farms
Exports, including malt§
Prices, wholesale (Minneapolis):
No. 2, malting
No. 3, straight
_
Corn:
Production (crop estimate, grain only)
do
do
do
do
do
$ per bu_
do
mil. bu
Stocks (domestic), end of period, total, .mil. bu__
On farms
do
Off farms
do
Exports including meal and
flour
do
Prices, wholesale:
No. 3, yellow (Chicago)
$ per bu
Weighted avg., 5 markets, all grades
do
Oats:
Production (crop estimate)
Stocks (domestic) , end of period, total
On farms
Off farms
mil bu
do
do
do
Exports, including oatmeal
do
Price, wholesale, No. 2, white (Chicago)
$ per bu._
Rice:
Production (crop estimate)
mil bags 9
California mills:
Receipts, domestic, rough
mil. lb._
Shipments from mills, milled
rice
do
Stocks, rough and cleaned (cleaned basis), end
of period
mil. lb._
1372.9 r 1423.0
303.2
362.7
184.6
238.8
118.5
123.9
40.2
17.8
1.30
1.29
14,760
4,257
3,391
866
515.3
1.18
1.18
r
123.6
« 417.1
.1
495.1
305.3
189.9
.4
.7
.3
1.00
1.00
1.06
1.06
1.08
1.08
1.08
1.07
51.3
54.8
21 122
2737
2
385
64.5
4,204
3,247
957
594.0
55.3
79.6
1.27
1.22
1.11
1.11
1.28
1.22
1.19
1.15
1.16
1.17
1.15
1.12
1789
653
549
104
••1939
776
653
123
9.4
11.6
3.75
3.72
1.13
1.14
1.14
1.13
3.1
1.18
1.16
1.16
1.15
1.20
1.21
1,011
818
193
2100
.4
.5
.4
.8
.9
1.2
.3
.5
.7
.7
.71
.74
.75
.68
.69
.69
.64
.63
.61
.62
'.7
.4
36
44
«91.3
r 1 1Q4 1
1,913
1,403
2,020
1,376
115
58
215
170
221
179
272
289
286
214
225
235
118
151
67
79
96
88
67
43
209
87
254
312
315
312
298
229
245
197
125
93
71
73
127
284
266
6,675
4,544
7,086
4,774
749
519
339
347
139
212
146
188
153
214
313
423
283
552
200
544
205
464
347
333
1,636
438
1,687
538
602
450
1,875
4,066
.085
2,013
4,163
.087
2,119
336
.083
2,013
361
.085
1,903
135
.085
1,812
263
.085
1,713
245
.085
1,509
492
.085
1,178
408
.085
858
629
.085
476
372
.084
681
291
.084
1,410
254
.085
1,894
375
1,862
349
Rye:
Production (crop estimate)
mil. bu
Stocks (domestic), end of period _ _
do
Price, wholesale, No. 2 ( Minneapolis).. $ per bu._
124.2
27.8
1.19
r 1 23 4
1.17
24.3
1.20
1.21
20.0
1.23
1.24
216.0
1.22
1.06
38.5
1.07
1.12
1.13
Wheat:
Production (crop estimate), total
Spring wheat
Winter wheat
Distribution
U,522 ' 1 1, 576
1316
1342
U,207 f i l 235
1,360
1,439
Stocks (domestic), end of period, total
On farms
Off farms
mil. bu__
do
do
do
do
do
do
24.3
1.14
*31.4
i.20
1.23
1.17
1.14
* 1,459
<31
* 1, 148
334
1,212
1,344
1 344
580
580
508
704
764
764
T
2
Revised.
» Crop estimate for the year.
old crop only; new crop not reported until
beginning ofu new crop year (July for barley, oats, rye, and wheat; Oct. for corn).
3 Average
or
11 months.
~"
*~
* December 1 estimate of 1969 crop.
1.15
1.12
*950
2371
2272
547
437
110
776
653
123
1.0
1.15
1.15
38.6
336
59
Southern States mills (Ark., La., Tenn., Tex.) :
Receipts, rough, from producers
mil. lb__
Shipments from mills milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis), end of period
mil. lb_.
Exports
do
Price wholesale Nato No 2 (N O )
$ per Ib
1.08
1.07
* 4, 578
i 4 393
1.27
1.25
i gy 4
102.2 ' 103. 3
233
1,111
462
649
§ Excludes pearl barley.
••294
2818
2
327
2491
9 Bags of 100 Ibs.
417
1,857
733
1,124
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
Annual
January 1970
1968
Nov.
1969
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Con.
Wheat— Continued
Exports, total, including flour _
Wheat only
mil. bu
do
675.6
637.1
642.1
587 8
50.7
44 0
66.3
60 3
14.7
13 9
16.5
15 1
40.7
37 4
53 3
48 8
56 8
51 2
46 6
39 5
47.4
41 8
34.5
32 4
36.5
32.9
47.0
40.6
43.2
38.4
1.92
1.68
1.88
1.79
1.52
1.77
1.79
1.54
1.83
1.72
1.50
1.78
1.78
1.52
1.82
1.81
1.48
1.83
1.79
1.52
1.81
1.77
1.53
1.78
1.78
1.48
1.76
1.77
1.45
1.70
1.81
1.34
1.65
1.73
1.44
1.66
1.79
1.48
1.72
1.82
1.53
1.75
1.83
1.52
1.76
20625
*364
46 121
20 307
21 217
20 758
19 620
21 455
22 201
47 623
46 457
44 119
47 974
23,306
'407
51 894
22,237
45 631
4,489
1 433
2 096
2 387
4,324
3 033
2 429
919
2 752
2 052
5.863
5.350
5.838
5 338
5.875
5 388
5.888
5 463
6.013
5.588
6.025
5.488
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
$ per bu._
No. 2, hd. and dk. hd. winter (Kans. City). do
Weighted avg., 6 markets, all grades
do
Wheat flour:
Production:
Flour. _
_
thous. sacks (100 Ib.)
245, 240 254, 185 22 080 21 279 20,342 18 974
Offal
thous. sh. tons
362
4,423
4,510
374
386
335
Qrindings of wheat
thous. bu 549 801 569 649 49 523 47 667 45 888 42 038
Stocks held by mills, end of period
thous. sacks (100 lb.)._
4,372
4,638
4,638
Exports
_
do
16, 535
371
609
23,264
2 903
2 570
Prices, wholesale:
Spring, standard patent (Minneapolis)
$ per 100 lb__ 6.124
5.927
5.950
5.925
5.888
5.838
Winter, hard, 95% patent (Kans. City). .do
5.631
5.449
5.513
5.463
5.400
5 375
356
373
365
345
377
387
49 519
4,391
1 534
r
1.88
1.52
1.78
387
49 394
5.913
5.413
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected) :
Calves _ _ _
thous. animals
Cattle
do
Receipts at 28 public markets
do
Shipments, feeder, to 8 corn-belt States
do
Prices, wholesale:
Beef steers (Chicago)
$ per 100 Ib
Steers, stocker and feeder (Kansas City) do
Calves, vealers (Natl. Stockyards, Ill.)__do
Hogs:
Slaughter (federally inspected). ..thous. animals .
Receipts at 28 public markets. __
do
Prices:
Wholesale, average, all grades (Chicago)
$perl001b._
Hog- corn price ratio (bu. of corn equal in value
to 100 Ib. live hog)
Sheep and lambs:
Slaughter (federally inspected). __thous. animals..
Receipts at 28 public markets
do __
Shipments, feeder, to 8 corn-belt States
do ...
Price, wholesale, lambs, average (Chicago)
$perl001b._
MEATS AND LARD
Total meats:
Production (carcass weight, leaf lard in) , inspected
slaughter
mil. lb._
Stocks (excluding lard), cold storage, end of
period
...mil. lb._
Exports (meat and meat preparations)
do
Imports (meat and meat preparations) ... do
Beef and veal:
Production, inspected slaughter. _
do
Stocks, cold storage, end of period
do
Exports
do
Imports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (New York)
$ per Ib
Lamb and muttom
Production, inspected slaughter
mil. lb._
Stocks, cold storage, end of period ._
do
Pork (including lard), production, inspected
slaughter
mil Ib
Pork (excluding lard) :
Production, inspected slaughter
do
Stocks, cold storage, end of period
do
Exports
_ _
do
Imports
do
Prices, wholesale:
Hams, smoked composite
$perlb._
Fresh loins, 8-14 Ib. average (New York).. do
Lard:
Production, inspected slaughter.
mil. Ib—
Stocks, dry and cold storage, end of period.. do
Exports
do
Price, wholesale, refined (Chicago)
$ per lb._
312
271
248
282
271
329
2,466
2,611
2,608
905
961
2,434
1,007
946
957
'2,724
1,203
281
2,414
1,022
2,893
1,380
2,368
1,130
29 10
26 60
37.50
28 97
27.22
40.50
30.20
28.69
40.50
30 98
30.28
40.00
33.76
32.40
40.50
34.20
33.17
39.00
31.57
29.87
35.00
30.97
29.20
34.00
29.85
28.37
34.00
29.10
28.81
28.71
29.30
6 571
1 388
6 814
6 619
1 410 2 1 460
6,245
1,278
6,816
1,363
6,852
1 429
6,045
1 307
5,591
1 228
5,739
1,204
5,708
1,095
6,611
1,266
7,100
1,374
5,825
1,146
18.65
17.56
17.87
18.94
19.68
20.41
20.23
22.71
24.35
24.90
27.11
25.42
25.33
25.05
18 0
16 8
17 0
17 2
18 0
18.3
17 5
18 7
20 3
21 1
22 0
21 6
22 1
23 4
11, 516
13,603
1,449
10 888
1
2, 934
1 399
835
243
134
832
210
79
1 007
2214
768
179
814
176
839
183
835
192
810
250
822
252
797
230
915
291
931
303
730
218
23.48
26.02
26.12
25.00
26.50
27.50
29.25
30.75
32.25
29.75
29.25
26.75
26.00
27.25
27.75
31, 106
32, 714
2,768
2,760
2,965
2,628
2,765
2,788
2,692
2,602
2,705
2,650
2,917
3,170
2,617
644
484
1 397
625
508
1 594
614
62
625
54
597
29
617
57
556
45
513
46
550
47
97
139
163
513
40
612
62
198
633
62
88
678
54
144
65
601
35
17 252
18 270
r 1 488
1 475
1 658
1 461
1 490
1 499
1 591
344
002
780
659
852
3 876
29 592
i 11, 699
8 219
2 416
1,077
1 259
2 380
25 97
24 67
32 38
27 65
25 90
33.83
28 38
26 01
32 50
28 83
26 39
35 00
70 915
1 ig igg
74, 789
i 15 932
18.88
16 3
286
34
304
29
921
685
3 474
465
52
40
10
471
545
42
14
15
14
13 280
10 QQQ
I OOQ
1 242
10 750
'286
56
11 330
256
92
1 014
237
18
1 022
256
15
25
.544
.515
.537
.509
1,835
1,862
.126
.112
308
70
484
43
473
94
172
342
282
3
140
574
151
189
2,356
278
2
59
451
324
317
2 676
1, 057
288
2
51
1 129
307
2
304
2
63
* 967
15
364
337
304
3
107
POULTRY AND EGGS
Poultry:
Slaughter (commercial production). .. mil. Ib
9,218
8,915
Stocks, cold storage (frozen), end of period, total
mil. lb._
540
417
m ,
Turkeys
do
367
317
Price, in Georgia producing area, live broilers
$perlb_.
.122
.131
T
Revised.
« Corrected
»Annual total reflects revisions not distributed to the monthly data.
352
2,423
1,019
4
27
12
7
9
149
134
1 492
1 520
275
188
1 570
174
1 678
'635
51
634
165
100
1 805
1 478
••343
350
99
253
3
85
484
501
546
556
521
498
478
459
457
43
43
43
40
40
38
47
37
13
12
45
15
16
17
17
12
2
17
16
238
2
99
246
2
118
273
2
148
311
2
131
342
2
120
2
62
i 255
1 127
1 233
1 253
1 130
1 064
1 074
1 041
1 195
1 318
1 102
1 033
251
14
938
1 042
324
10
935
877
880
860
982
299
23
246
13
196
8
168
7
174
11
26
10
28
29
21
24
1 089
202
20
••2211
13
21
1 026
270
12
27
23
.567
.481
.595
.484
.547
.531
.517
.507
164
78
20
160
94
12
160
92
12
.123
.116
.130
803
764
486
417
OOC
.120
ot 7
.125
e
264
16
39
906
16
218
33
33
.559
.476
.522
.495
.536
.572
.572
.614
.572
.631
.614
.609
.592
.616
.608
.622
138
97
14
149
92
29
152
93
11
135
76
15
141
62
11
131
55
23
167
58
30
.133
.133
.130
.131
.139
154
56
22
142
.144
142
80
39
.150
.148
726
567
631
661
724
783
842
897
949
1,048
394
351
287
201
239
200
I "JO
248
163
324
237
423
329
'390
ICC
207
123
r 984
314
4.9.A
.145
.135
.145
.145
.170
.155
.145
.130
.130
.120
904.
.130
ORE
.135
539
42
onq
2 Beginning Jan. 1969, data are for 38 markets; comparable Dec. 1968 receipts: Cattle and
caves, 1,085; hogs 1,461; sheep and lambs, 213. 3 Beginning Jan. 1969, quotations are on
carlot rather than l.c.l. basis as previously.
SURVEY OF CURRENT BUSINESS
January 19TO
1968
Unless otherwise stated, statistics through 1966 1967
and descriptive notes are shown in the 19S7
edition of BUSINESS STATISTICS
Annual
S-29
1968
Nov.
1969
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
POULTRY AND EGGS— Continued
Eggs:
Production on farms
mil cases O
Stocks ,cold storage, end of period:
Shell...
.
thous cases O
Frozen —
mil. lb._
Price, wholesale, large (delivered; Chicago)
$ per doz__
194 9
192 6
15 4
15 9
15 9
14 7
16 6
16 3
16 9
16 0
16 0
15 7
15.2
15.9
15.5
86
89
59
72
91
82
59
72
56
61
71
56
52
52
173
50
237
53
300
61
213
66
120
64
85
56
45
55
'64
'50
50
43
.298
1.372
.437
.480
.485
.413
.445
.404
.334
.351
.471
.433
.488
.471
.595
.627
Cocoa (cacao) beans:
Imports (incl. shells)
thous Ig tons
Price, wholesale, Accra (New York)
$ per Ib
282.6
.288
228 2
.344
10 0
.465
17 4
505
20
433
23 4
436
27 2
460
14.3
455
20 7
.443
15 4
456
26 0
478
21.6
.469
6.3
.444
12.5
.461
18.8
.479
Coffee (green) :
Inventories (roasters', Importers', dealers'), end
of period
_
thous. bagscf
Boastings (green weight)
<fo
2,311
21,291
5,076
21, 165
Imports, total
do
From Brazil
___
do
Price, wholesale, Santos, No. 4 (N Y ) $ per Ib
Confectionery, manufacturers' sales ' "" mil $
21 312
6,069
384
1 645
25 377
8 318
376
1 705
2,132
740
378
172
1 945
699
375
139
363
135
375
146
1 111
345
375
156
2 015
654
383
152
2 195
643
380
* 135
1 664
478
378
118
1 747
563
375
115
1 714
*529
375
106
1 476
329
390
131
1,778
459
.410
193
2,327
539
2,167
706
'187
172
263
285
287
285
248
219
194
188
191
201
230
253
268
282
268
4 396
6 680
1 707
1,066
439
128
1,008
269
87
690
2 034
' 35
381
46
46
70
98
99
116
174
145
137
370
192
95
524
148
77
548
102
95
601
171
153
576
235
538
144
MISCELLANEOUS FOOD PRODUCTS
Fish:
Stocks, cold storage, end of period.
mil Ib
Sugar (United States):
Deliveries and supply (raw basis) :§
Production and receipts:
Production
thous sh tons
Entries from off-shore, total 9
do
Hawaii and Puerto Rico
do
Deliveries, total 9
For domestic consumption
Stocks, raw and ref . , end of period
Exports, raw and refined..
Imports:
Raw sugar, total 9
From the Philippines
Refined sugar, total
?ea, imports
3.361
4,780
3,389
5.080
3 249
5,370
do
do
do
10, 516
10 245
2 873
11 089
10 922
2 961
821
809
2,467
1,077
1 067
2 961
704
692
3 151
620
611
3 146
919
903
2,737
834
818
2 698
933
918
2 580
976
965
2,396
1,019
1 008
2 164
sh. tons .
1,468
1,320
118
66
94
102
76
163
85
46
38
69
57
4,584
1, 134
97
4 879
1 075
117
290
32
48
431
96
13
45
o
1
264
96
(i)
371
91
22
486
140
1
438
58
2
538
108
2
577
124
7
416
95
13
328
71
6
$perlb_.
.073
.075
.076
.076
.077
.077
.078
.078
.078
.078
075
.078
.078
.079
.078
$ per 5 Ib _
$ per Ib
<.620
099
.624
101
.638
.102
.630
.103
.628
103
.630
.103
631
.103
.629
105
.632
107
.642
.107
641
108
.646
108
.647
.108
.643
.645
thous. lb_. 142,583
155, 335
12,279
15,633
1,859
4,046
14, 825
16, 785
17, 989
13, 655
11 644
8,892
13,760
11, 141
13, 593
3 225 7
139 2
3 311 9
142 7
296 6
119 2
97J» 1
286 4
127 3
272 3
133 4
291 3
132 7
268 7
142 1
287 6
138 9
281 1
144 5
244 4
130 7
281 7
128 2
294 5 r 341. 9
116 3 ' 113. 1
321 2
116 5
2 922 1
79 5
2 995 9
' 79*4
230 8
74* 8
79 4
241 5
84 8
215 9
76 4
248 9
80 0
258 4
73 9
283 7
91 4
322 0
74 7
253 5
62 5
242 8
60 2
254 3
60 2
r
268 4
53. 0
274 7
62 8
2 114 1
59.9
2 140 9
' 49*1
179 6
45 8
196 6
49 1
214 9
51 2
175 3
60 2
181 0
56 1
169 3
58 7
165 1
58 2
169 5
54 1
161 1
55 5
162 6
51 0
187 2
50 1
209 8
54 4
178 4
53 7
257
256
256
256
256
.256
256
257
257
257
257
257
257
577.8
525.1
73.2
539 1
517.3
49 6
45 5
46 3
42 7
40 6
34 6
49 6
46 2
39 7
50 1
45 8
43 3
54 0
44 0
49 0
44 2
41 4
41 4
47 4
42 0
43 9
44 3
40 5
45 6
32 8
39 7
37 2
28 3
43 1
43 3
27 g
44.4
43 0
25 6
49.5
48 0
26 0
49 7
41 3
34 g
4,753.0
2,402.4
424.6
4, 745. 2
2, 478. 0
358 5
377.1
193 8
376 0
362 0
192 0
358 5
409.1
217.6
421 6
378.2
205.0
425 1
380 1
215 7
419 1
386.2
228 0
335 9
372.3
211.6
306 4
363.8
219 9
281 2
382 8
211 5
283 3
374 3
208 1
290 4
383.2 ' 432. 9
220 5 '238.1
303 6 '330 8
395.9
209 9
354 5
118.4
73.0
146.3
170.8
69.9
155.8
12 1
5.5
159 2
65
46
155 8
g
4.9
155.4
.9
6.4
122.5
6
6.9
111 2
54
68
94 2
20 8
5.2
123 5
27 2
7.1
130 9
29 3
50
142 1
31 4
58
126 0
28 2 ' 14 0
85
6.6
7.2
68
131 4 r 148 2
104 3
28.8
45 6
59.9
179.1
40 1
31 4
46 1
63 8
184 9
10 3
30 5
52 2
63 8
155 6
19 2
29 3
44 0
60 5
153 1
34 2
33 2
43 6
61 0
154 2
33 0
19 1
41 3
52 3
138 5
31 6
35 4
48 5
59 4
139 8
28 3
38.2
35.8
47 8 r 46 2
65 1
67 7
131 4 '152 2
28 7
18 4
36.1
31 8
31.3
39 5
38 8
36.6
54.7
39 5
36 8
37.4
40 1
39 5
39.9
fi8. R
flfi.O
37 5
33 8
33.3
68.3
38 5
34 i
35.5
70.4
thous. sh tons
do
do
Prices (New York):
Raw, wholesale
Refined:
Retail (Incl. N.E. New Jersey)
Wholesale (excl. excise tax)
4,106
6,391
1 958
5,076
5,603
Jaking or frying fats (Incl. shortening):
Production
mil Ib
Stocks, end of periods
do
lalad or cooking oils:
Production
do
Stocks, end of period© . .
do
Margarine:
Production
_
do
Stocks , end of period ©
do
Price, wholesale (colored; mfr. to wholesaler or
large retailer; delivered)
$ per Ib
2
142 7
904 c.
1 058 1,044
1 077 « 1 062
1 698 1 396 v 1,624
120
50
423
42
385
23
2
(3)
r
FATS, OILS, AND RELATED PRODUCTS
.nimal and fish fats: A
Tallow, edible:
Production (quantities rendered)
mil Ib
Consumption in end products
" do
Stocks, end of period f
"do
'allow and grease (except wool), inedible:
Production (quantities rendered).
do
Consumption in end products
do
Stocks, end of period 1 ...
do
'ish and marine mammal oils:
Production
_
do
Consumption in end products
do
Stocks, end of period 1
do
egetable oils and related products:
Coconut oil:
Production: Crude
mil. Ib
>350.5
392.1
31.3
41.7
32 4
565.1
Refined do
45.2
548 7
44 9
34 2
Consumption in end products
do
766.1
730.7
59 6
54 1
61 5
Stocks, crude and ref., end of period If... do.
133.6
197.1
172.0 197 1
187.6
2
Imports
do
523.0
442 8
152 3
17 5
14 6
Corn oil:
Production: Crude
do
38.0
444.0
452.8
39.5
37 8
Refined
do
418 1
429 6
33 8
36 3
38 8
Consumption in end products
do. . 420.6
40.2
34.1
439.6
36.2
Stocks, crude and ref., end of oeriodlL . . do.. .
37.7
40.5
39.0
40.5
43. 3
e
'1 Revised.
p Preliminary.
Corrected.
Beginning January 1968, data are not comparable with those for early periods; prices are
>ased on minimum 80 percent A quality (instead of 60-79.9 percent as formerly). 2 Annual
otal reflects revisions not distributed to the monthly data.
3 Less than 500 short tons.
ri eg &2J Dg / uly 19?7' prices based on 1967 benchmark; 1967 average is for July-Dec, period.
Tuly 1967 price on old basis, $0.631.
49.8
40 0
33 o
33 6
fiJS. 9
39.2
37 1
37.7
70.7
'41 2
r 36 2
'42.0
'64.9
35 3
42 7
58 1
172 5
21 2
37.8
44 2
41.2
58.3
O Cases of 30 dozen. tfBags of 132.276 Ib.
§ Monthly data reflect cumulative revision s
for prior periods.
9 Includes data not shown separately; see also note " §".
A For data
on lard, see p. S-28. ©Producers' and warehouse stocks.
^Factory and warehouse
stocks.
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
Annual
January 1970
1968
Nov.
1969
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Oct.
Sept.
Nov.
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FATS, OILS, AND RELATED
PRODUCTS— Continued
Vegetable oils and related products— Continued
Cottonseed cake and meal:
Production
thous sh tons
Stocks (at oil mills) , end of period
do
Cottonseed oil:
Production: Crude
mil. Ib
Refined __
_
-do
Consumption in end products
do
Stocks, crude and refined (factory and warehouse), end of period
mil Ib
Exports (crude and refined)
do
Price, wholesale (drums; N.Y.) - - $ per Ib
Linseed oil:
Production, crude (raw)
-__mil. Ib
Consumption in end products
do
Stocks, crude and refined (factory and warehouse) , end of period _ - _
mil. Ib.
Price, wholesale (Minneapolis)
$ per Ib
1, 564. 7
146.7
1, 574. 8
135.1
240.3
145.4
246.7
135.1
255.3
141.2
215.9
167.5
201.0
163.5
175.0
192.5
155.0
215.5
106.8
179.4
69.6
155.0
57.0
99.2
74.9
64.9
•• 221. 5
••61.4
233.1
79.0
1, 108. 3
1, 050. 8
1, 010. 5
1, 115. 1
1,001.5
909.6
167.7
124.8
68.9
173.7
125.4
70.3
186.2
144.3
70.3
155.8
130.4
66.1
145.6
119.8
66.0
127.3
119.9
74.7
112.4
109.4
69.7
80.4
94.0
88.6
50.3
72.2
62.4
37.2
54.9
64.9
51.0
61.1
64.9
' 156. 3
106.2
r
82 9
165.8
110.9
83.5
252.1
172.1
272.7
61.7
.163
213.5
12.0
.140
272.7
345.5
376 8
4 7
.140
383 8
56. 1
.140
372 8
43 4
.140
439.7
23.2
.140
r
.140
466.2
12.8
.140
418.0
.140
460.8
19.5
.140
467.6
.140
377 2
20.7
.140
430.0
2.154
370.6
209.8
306.6
195.6
29.9
14.1
25.0
11.9
30.4
13.3
26.4
15.1
24.8
16.9
20.8
17.1
22.0
18.3
21.6
18.2
12.8
17.0
16.1
17.0
39.5
16.2
31.2
'17.1
26.7
14.5
213.3
.129
157.2
.127
168.6
.119
157.2
.119
152.8
.119
158.1
.119
164.2
.119
156.7
. 119
151.9
.119
131.4
.119
121.3
.119
113.1
.119
118.8
.119
••130.7
132.1
1,200.8
140.6
1,123.8
130.8
545.9
452.4
457.7
526.9
459. 4
480. 8
563.3
69.3
.107
552.5
20.1
.099
9.5
2.6
9.5
4.9
Soybean cake and meal:
Production
thous. sh tons 13,359.2 13, 468. 4 1, 281. 4 1, 207. 1 1, 139. 9 1, 033. 1 1,260.4 1,163.4 1,246.7 1,164.7
199.8
149.2
149.2
174.4
162.4
112.5
151.6
133.2
Stocks (at oil mills), end of period
do
170.5
150.7
Soybean oil:
524.2
544.6
6,149. 9 6, 149. 6
584.1
582.4
541.2
Production: Crude
mil. Ib
474.6
578.5
537.6
Refined- _
do. _ 5, 072. 8 5, 227. 9 439.5 462.4 460.1 c 448.3 506.4 c 479.1 466.3 498.7
489.0
442.1
5, 202. 7 5, 401. 6
467.8
485.4
Consumption in end products
do
429 2
464 5
517.2
478.8
Stocks, crude and refined (factory and ware663.2
588.6
525.8
562.6
588.6
623.5
house) , end of period
mil Ib
517 7
595 5
611 0
557 2
823.4
912.3
56.4
58.9
Exports (crude and refined)
do
111.5
19.1
71.3
43 2
120 3
18.6
.103
.099
Price, wholesale (refined; N.Y.)_ . ._.$ per Ib
.120
.099
.106
.106
.107
.106
.107
.107
TOBACCO
Leaf:
8
1 968 '31 710
Production (crop estimate)
mil Ib
Stocks, dealers' and manufacturers' end of period
5,486
5,179
mil Ib
571, 559 598 916 71 322
Exports, incl scrap and stems
thous Ib
U97, 109 217, 708 13, 874
Imports, incl scrap and stems
do
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large) , taxable
Exports, cigarettes
millions
do
do
do
48, 971
527, 800
6,846
23, 6.52
53 846
523, 007
6,759
26, 510
4 350
40, 654
602
2,089
6.8
1,096.0 ••1,416.2 1, 418. 2
139.4
108.6 ' 120. 2
c
511.8
489.3
513 5
'660.3
' 513. 0
' 531. 2
657.4
526.2
507.4
415 4
90 9
.107
r
487.7
100.8
470. 7
45.5
4
5,179
63 643
15, 215
8 144
20, 490
4,312
35, 161
3 122
45,580
400
2,589
484
705
4 224
12 776
5 005
42 410
16 870
39 586
17 092
3 009
41, 538
3 820
40, 138
3 590
40 222
1,525
2 136
1,707
498
536
552
66 505
17 771
4 590
55 541
20 465
43 536
16 864
43 134
18, 970
4,771
61, 733
16, 794
4 041
44 487
5 321
45 249
5 009
41, 845
3,986
43,208
576
544
621
3,718
45,586
597
2 242
2 958
2 597
2,693
18 837
*177
1 856
11 770
11 862
171
130
1 062
1 103
62, 426
19, 992
74,688
20,902
3,702
38,875
1,962
4,146
45, 768
°715
2,112
14 204
12 652
14 736
14 103
1,341
1,229
1,420
1,376
3,100
2,700
604
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value total 9
thous $ 127 893
Calf and kip skins
thous. skins _
2,626
Cattle hides
thous hides
11, 987
128 679
2,212
12 636
13 456
'l58
1 185
10 721
1 153
79
975
100
897
61 300
36 044
7,109
78 400
30 912
5 203
3 700
3 300
2 000
4 200
$ per Ib
do
460
120
555
112
625
121
LEATHER
Production:
Calf and whole kip
thous. skins
Cottle hide and side kip
thous hides and kips
Goat and kid
thous. skins
Sheep and lamb
do _
4,008
23 394
8,456
28, 375
4 247
24 033
6 764
31, 413
1 911
Exports:
Upper and lining leather
thous. sq. ft
71 769
Prices, wholesale, f.o.b. tannery:
Sole, bends, light
index 1957-59-100
Upper, chrome calf, B and C grades
index, 1957-59=100
Imports:
Value, total 9
Sheep and lamb skins
Goat and kid skins
thous $
thous pieces
do
Prices, wholesale, f.o.b. shipping point:
Calfskins packer heavy 9H/15 Ib
Hides, steer, heavy, native, over 53 Jb
LEATHER MANUFACTURES
Shoes and slippers:
Production, total t
thous. pairs
Shoes, sandals, and play shoes, except athletic I
thous pairs
Slipperst
do
Athletic J_
do
Other footwear t__
do
Exports
do
Prices, wholesale, f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt . index, 1957-59=100
Women's oxfords, elk side upper, Goodyear
welt
.index, 1957-59—100
Women's pumps, low-medium quality do
915
369
325
124
658
274
625
123
299
8 983
693
73
650
128
322
617
178
550
122
11 220
13 616
226
228
1 044
1,300
6 300
1 195
11 200
5*951
8 000
4 107
*473
5 600
1 646
6 200
2 121
358
4 800
1 575
'417
4 400
1 507
683
650
135
650
178
650
170
600
148
575
148
575
146
.500
.163
763
356
293
312
1 882
1 987
2,183
1 955
*450
2 189
3 623
3 090
104 0
104 0
94.5
98.2
2 004
2,443
678
1 910
*571
2,325
2,335
77 266
7 853
5 158
97 7
95 1
96 5
92.4
91.7
95 9
584
347
694
288
203
115
215
111
349
248
131
548
320
108
349
508
271
1 845
1 558
1 853
1 758
1 928
330
485
2,330
1 966
'521
2,520
2,327
1,791
1,984
1,788
1,925
8 239
7 330
6 248
5 666
7 671
6 226
4 119
4 561
5,299
104 0
104 0
104 0
104 0
105 5
105 5
105 5
111 5
94 9
94 2
97 8
96 6
95 9
94 7
94 5
90 9
527
500
491
455
539
599, 964
645 942
49490
47, 564
53 224
48 651
52 966
48 998
48 364
47 653
43 142
49 809
47 702 ••53083
43, 310
495 380
95 620
6,949
2,015
529 461
106 902
7,524
2,055
39356
9 316
39 935
6 859
45 033
7 428
40 086
7 846
'576
43 461
8 578
39 610
8 472
38 089
9 532
37 302
9 480
33 787
8 776
38 420
10 480
36 373 rr 40 219
lo' 364 11r 874
825
815
32 945
9,507
2 217
2 884
195
242
143
663
155
642
128
636
127
143
771
156
132
232
217
230
190
162
758
158
597
146
726
145
475
104
755
154
140
175
712
146
207
228
173
189
122 9
129 7
135.4
135 4
135 4
135.4
131.2
131 2
131 2
131 2
131 2
131 2
135.7
113 1
125 9
118 7
134 4
120 0
138 0
120 0
138 0
121 5
137 9
124 4
138 0
124 4
138 1
127 2
137 8
127 2
139 0
127 2
139 0
127 2
140 7
127 2
140 7
127 2
143 0
r Revised.
« Corrected.
'Annual total reflects revisions not distributed to the monthly data.
s
Average for 11 months.
' Crop estimate for the year.
* Dec. 1 estimate of 1969 crop.
8 852
9 Includes data for items not shown separately.
t Revisions for Jan. 1965-July 1967 will be shown later.
1,803
SURVEY OF CURRENT BUSINESS
January 1970
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
1968
Nov.
Annual
S-31
1969
Dec,
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
LUMBER AND PRODUCTS
LUMBER— ALL TYPES 9
National Forest Products Association:
Production, total
mil. bd. ft
Hardwoods
do. _.
Softwoods
do
35, 275
37,094
6,960
30,134
2,981
2,818
2,943
2,999
3,321
592
629
3,270
625
685
3,089
587
3,427
7,401
27,874
688
680
2 356
2 304
2 356
2,407
2,692
2 802
2,585
2,401
2,382
2,403
2,507
2,663
3 056
2 794
2 986
3 062
3 355
3,325
2 990
3 048
3,111
3,335
688
2,212
2 282
2 332
2 577
745
3 081
704
730
3 345
2,354
2 657
2,580
2 360
2 296
2 314
2,420
2,612
5 118
625
514
3,062
3,121
718
3,205
698
3,391
728
Shipments total
Hardwoods
Softwoods
do
do
do
35, 777
7,603
28,174
38 052
7,762
30,290
Stocks (gross) mill end of period total
Hardwoods
Softwoods
do
do
do
5 744
1,377
4,367
5 030
5 086
914
5 354
5 430
5 444
4 172
4 2^14
4 294
703
654
5 218
4 096
5 162
*748
4 414
5 426
934
5 194
4 172
4 543
4 540
4 582
4 713
4 794
4 777
4,733
do
do
1,112
4,987
1,143
6 087
82
519
84
524
72
353
73
490
73
724
103
664
106
549
101
554
88
537
91
495
120
528
103
524
8 222
9 047
579
822
674
657
755
822
755
898
530
809
668
818
696
704
612
542
577
439
697
526
600
487
659
476
776
495
do
- do
do
8,046
8 129
8 802
8,804
955
671
679
907
638
590
955
663
679
956
664
619
775
659
846
810
703
774
661
679
622
610
1 001
1 118
1 147
1 074
1 055
1 067
1 073
1 084
1 013
do
do
do
388
113
275
403
102
301
27
6
21
33
6
27
24
g
16
32
g
24
22
4
18
31
10
21
32
7
26
33
10
22
28
4
24
31
7
23
35
9
25
37
9
28
Exports, total sawmill products
Imports total sawmill products
5 086
914
702
582
&
1iq
879
824
778
K 94fi
721
636
694
641
734
636
691
667
723
693
85
441
SOFTWOODS
Douglas fir:
Orders new
Orders unfilled , end of period
Production
Shipments
Stocks (gross) mill end of period
Exports, total sawmill products
Sawed timber
Boards, planks, scantlings, etc
mil. bd ft
do
Prices, wholesale:
Dimension, construction, dried, 2" x 4", R. L.
SperMbd. ft-.
Flooring, C and better, F. G., 1" x 4", R. L.
$ per M bd. ft
957
645
639
681
670
743
757
85.54
107. 85
113.06
123. 98
130 11
137 49
147 11
140 41
125 96
109 95
95 71
95 08
94 61
169. 99
166.36
169.33
175 42
179 83
195 55
208 29
213 84
215 44
213 07
213 84
215 44
215 44
mil. bd. ft.
do
6,381
7,145
422
629
391
589
422
648
408
724
487
722
505
579
415
559
355
528
320
573
303
625
330
617
334
671
331
Production..
do _
Shipments
do
Stocks (gross), mill and concentration yards, end
of period
..mil. bd. ft
6,415
6 348
6,870
7 030
596
607
579
558
681
662
634
645
670
704
701
669
666
619
651
563
642
590
607
598
594
613
671
674
Southern pine:
Orders, new _
Orders, unfilled, end of period
Exports, total sawmill products ._ _
M bd. ft
Prices, wholesale, (indexes) :
Boards, No. 2 and better, 1" x 6", R. L.
1957-59=100..
Flooring, B and better, F. Q., 1" x 4", S. L.
1957-59=100
Western pine:
Orders, new
Orders, unfilled, end of period
Production
Shipments
_
mil bd ft
do
do
do
Stocks (gross), mill, end of period
do
Price, wholesale, Ponderosa, boards, No. 3, 1" x
12", R. L. (6' and over)
$ per M bd. ft
HARDWOOD FLOORING
Oak:
Orders, new.
mil. bd. ft .
Orders, unfilled, end of period
do
Production
_do
Shipments
do
Stocks (gross) , mill, end of period
do
307
1,297
1,137
1,116
1,137
1 156
1,145
1 111
1 143
1 190
1 278
1,330
1 339
1 320
1,317
87, 436
90,477
5,222
10, 772
621
1 524
9 367
7 699
9 216
6 882
5 764
5 947
7 615
6,918
103.5
119.0
126.3
129.5
134 0
139 9
148 4
149 8
149 2
143 9
134.9
126 2
116 8
106.0
113.0
115.5
116.6
121 0
125 6
128 9
130 2
130 2
128 7
125 4
124 9
124 9
10 531
10 881
539
789
600
757
539
748
616
731
564
864
530
769
452
839
416
794
389
881
391
818
443
867
438
884
430
10 180
10, 401
10 851
10 900
804
804
812
818
702
671
807
783
922
899
908
847
904
875
800
821
849
834
849
811
913
872
900
892
557
1,445
1,396
1,402
1,396
1 426
1,450
1 473
1 534
1,563
1 542
1, 557
1,595
1 636
71.95
87.72
98.64
106.49
115 76
129 86
145 12
163 54
145 05
110 28
82 19
79 64
74 90
547.0
20.1
496.5
23.9
36 2
25.7
32.1
23.9
38 6
25.8
34.1
24.6
31.2
21.8
27 4
17 5
29 2
14 1
30 1
12 7
38 7
16 8
33 e
14 9
32 8
15 1
36.7
16.6
551.2
552 2
57.9
459.3
485 1
23.5
34.4
36 1
25.3
31.4
33 0
23.5
38.6
36 7
25.4
32.6
33 3
25.4
33.9
34 0
25.3
35 4
32 9
27.8
33 0
32 4
27 7
31 2
31 6
26 3
29 7
34 1
22.0
31 8
35 0
20.1
32 1
32 3
19 9
36 8
34 8
21.9
353
898
1
471
797
2
1 200
470
h\
1 054
1 432
1 412
1 249
' 24
1 311
40
29
43
19
4
15
5,821
1,644
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous. sh. tons _
Scrap
. _
do
Pigiron
do
Imports:
Steel mill products
Scrap
_
Pigiron
do
do
.. do
1,685
7 635
7
11,455
2
286
631
11
306
801
2
327
576
1
132
282
1
173
233
M
441
529
1
349
754
2
411
826
1
17 960
1,550
1 425
38
73
510
24
g
568
25
g
876
31
22
1 505
' 40
1 727
22
37
41
63
76
3,998
3,248
6,892
7,868
4,471
3,383
7,706
7,535
4,334
3 534
7 439
7,467
4 857
3 963
8 311
7,454
4 798
3 877
8*054
7,520
4 790
3 779
g' 177
7,369
4 661
3 632
7' 835
7^216
4 499
3 342
7 320
7^204
4 510
3 295
7 506
7^015
4 808
3 484
7 874
6^917
27.35
29.00
26.38
28.00
25.33
27.00
28.32
30.00
29.10
31.00
29.20
30.00
31.82
34.00
34.18
37.00
2,170
6 572
327
799
19
72
42
34
450
/T)
Iron and Steel Scrap
Production
thous. sh. tons
Receipts
do
Consumption
do
Stocks, consumers', end of period
do
52, 312 253,284
232 654 2 39, 228
85, 361 2 86, 766
7,868
7,793
3,823
3,044
6,723
7,987
Prices, steel scrap, No. 1 heavy melting:
Composite (5 markets)
$ per Ig. ton
» 27. 51
23.79
25.06
24.00
25.83
Pittsburgh district
do
27.00
26.00
27.00
29.00
25.00
2
'Revised.
' Preliminary.
1 Less3 than 500 tons.
Annual total reflects revisions
not distributed to the monthly data.
For Feb.-Dec. 1967.
9 Totals include data for types of lumber not shown separately.
1 025
639
j
636
842
7
1 297
1 008
26
39
41
40
Dec.
SUKVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1969
1968
1968
Annual
January 1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
June
July
Aug.
Sept.
Oct.
9,514
10,491
3,426
9,693
11,563
2,906
9,611
12,052
4,018
9,710
12,075
3,706
8,893
11, 116
5,188
8,596
10,221
6,002
3,997
May
Nov.
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Ore
Iron ore (operations in all U.S. districts):
Mine production
thous. Ig. tons
Shipments from mines _ _
do
Imports
_
do
i 84, 179
i 83, 016
144,627
85,865
182,531
43,941
5,255
5,929
3,114
4,898
2,836
2,958
5,230
2220
1,402
4,967
2,043
1,673
5,884
2,456
1,521
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do
Consumption at iron and steel plants
do
Exports
do
119, 435
118, 982
5,944
118, 581
120, 449
5,937
7,737
8,358
522
5,799
9,483
426
3,380
10, 145
306
3,291
9,881
328
4,602
11,144
162
7,281 13,330
11,013 11,396
656
436
12, 519
10, 751
523
15,335
10, 385
675
14, 510
10,404
807
15, 157
10,342
466
15,001
11,244
345
11,928
10,762
341
. do
do
do
do
71,238
13,130
55, 121
2,987
71,649
15,620
53,232
2,797
73,278
13, 556
56,916
2,806
71,649
15,620
53,232
2,797
67,838 63,694
18,801 21,725
46,534 39,950
2,503 2,019
60,000
25,153
33,416
1,431
56,765
26,105
29,683
977
57, 742
25,127
31,617
998
57,602
23,267
33,410
925
60,484
20, 820
38,397
1,267
62,505
18,454
42,515
1,536
65,523
16,245
47,331
1,947
68,512
14,918
51,088
2,506
52,254
2,652
do
1,086
953
52
83
92
40
60
126
81
69
95
105
122
94
117
88,780
89,890
6,218
6,288
7,020
7,042
7,296
7,402
7,225
7,290
8,196
8,238
8,150
8,083
8,414
8,282
8,055
7,896
7,836
7,680
7,699
7,742
7,739
7,732
8,292
7,955
Stocks, total, end of period
At mines. _. _ At furnace yards
At U.S. docks
Manganese (mn. content), general imports
6,104
5,297
2,856
Pig Iron and Iron Products
Pig iron:
Production (excluding production of ferroalloys)
thous. sh. tons__ 186,984
Consumption
__do .
87,371
Stocks (consumers' and suppliers'), end of period
thous. sh. tons__
2,842
Prices:
Composite
$perlg. ton62.70
Basic (furnace)
__do.
63.00
Foundry, No. 2, Northern
do
63.50
Castings, gray iron:
Orders, unfilled, for sale, end of period
thous. sh. tons.
913
Shipments, total
do._
14,329
Forsale
._
do
8,128
Casings, malleable iron:
Orders, unfilled, for sale, end of period
thous. sh. tons. _
120
Shipments, total
do._
1,041
Forsale
_
do
614
Steel, Raw and Semifinished
2,340
2,386
2,340
2,160
2,063
1,971
1,933
1,864
1,932
1,991
1,894
1,828
62.70
63.00
363.50
62.70
63.00
63.50
62.70
63.00
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
63.15
63.00
63.50
65.20
65.50
63.50
65.20
65.50
66.00
65.20
923
15,034
8,710
875
1,187
675
923
1,099
607
1,021
1,255
676
1,019
1,288
718
1,023
1,376
774
993
1,391
802
1,032
1,353
778
1,019
1,361
815
1,097
1,192
720
1,144 '1,143
1,286 '1,402
'811
756
1,153
1,515
881
137
1,094
586
130
89
46
137
103
49
138
104
54
142
102
55
129
110
59
130
105
60
127
97
54
119
96
54
143
80
50
141
93
56
'130
'97
'58
122
113
70
9,590
120.1
10,421
126.3
11,083
134.3
10, 915
146.5
12,400
150.3
12, 143
152.1
12,356
149.8
11,810
147.9
11,365
137.8
11,421
138.4
11,523
144.3
12,324
149.4
347
132
112
371
143
123
392
153
132
432
163
138
430
169
145
442
168
140
453
172
135
457
161
134
455
156
129
462
135
112
'433
'153
'127
434
169
140
6,007
6,320
7,280
7,092
8,199
8,269
8,304
7,971
7,629
7,710
7.896
8,439
7,560
479
428
523
99
497
421
544
118
458
458
628
131
453
462
623
142
514
532
709
165
494
533
734
156
520
551
756
140
450
532
749
130
466
552
729
102
527
495
630
104
582
526
655
104
604
554
719
108
649
528
653
105
937
559
239
131
626
239
334
2,343
723
985
904
547
221
126
657
222
310
2,649
941
1,054
1,096
699
222
166
749
249
504
3,006
897
1,379
1,052
678
213
152
732
239
497
2,892
914
1,294
1,304
1,216
795
776.
320
263
178
167
930
1,017
303
286
553
576
3,263
3,185
1,034
968
1,448
1,419
1,285
758
352
165
842
284
575
3,352
1,056
1,482
1,229
716
337
167
848
293
563
3,177
1,080
1,312
1,145
669
325
143
759
252
582
3,042
1,013
1,283
1,174
681
334
150
691
271
567
3,251
1,107
1,358
1,194
701
320
162
702
279
571
3,284
1,093
1,398
1,307
790
342
164
694
312
518
3,624
1,245
1,526
1,157
701
297
149
598
237
449
3,185
1,112
1,337
Steel (raw):
Production
thous. sh. tons 1 127,213 i 131,462
1
Index
daily average 1957-59—100
135. 0
131.0
Steel castings:
Orders, unfilled, for sale, end of period
thous. sh. tons._
371
293
Shipments, total
do
1,731
1,857
For sale, total
do
1,437
1,556
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous. sh. tons.. i 83, 897 i 91, 856
By product:
4,061
Semifinished products
do
4,821
6,133
Structural shapes (heavy), steel piling., do
6,149
Plates
do
7,948
8,401
Rails and accessories
do
1,434
1,462
Bars and tool steel, total
do
13,053 13,660
7,961
Bars: Hot rolled (incl. light shapes)
do
8,497
Reinforcing
do
3,249
3,241
Cold
finished
. do
1,733
1,815
Pipe and tubing
.
do
8,969 10, 078
Wire and wire products.
do
3,133
3,393
Tin mill products
do
6,591
7,267
Sheets and strip (incl. electrical), total... do
32,574 36, 624
Sheets: Hot rolled
do
9,312
10, 782
Cold rolled
do __ 14,709
16,336
By market (quarterly shipments) :
1 14, 863 116,099
Service centers and distributors
do
Construction, incl. maintenance
do
i 11, 375 1 12, 195
Contractors' products
do
14,582 14,922
Automotive
do
i 16, 488 119,269
Rail transportation
_
do
Machinery, industrial equip., tools __do
Containers, packaging, ship, materials... do
Other
__
_.
do
i 3, 225 13,048
14,994 15,469
i 7, 255 17,902
i 21, 115 122,952
Steel mill products, inventories, end of period:
Consumers' (manufacturers only).. mil. sh. tons
Receipts during period
do
Consumption during period
do
9.1
62.5
63.5
10.5
70.1
68.7
Service centers (warehouses)
do
Producing mills:
In process (ingots, semifinished, etc.).... do
Finished (sheets, plates, bars, pipe, etc.). do
5.6
12.5
9.6
3,283
2,279
953
3,642
4,021
2,720
1 142
4 828
21,504 21,581 21,421
4,656 21,562 21,433
2
903
2858
3,262 21,016
2911
2800
2
2399
409
2403
2432
1,258
2376
4,587 21,313 21,519 21,654 21,727 21,430
707
1,028
1,493
5,259
916
1,401
1,741
5,783
2247
2229
2245
943
2258
2242
2448
2435
2448
1,542
2496
2456
2
609
2596
1,862
2561
2631
2500
6,435 22,026 22,160 22,188 22,472 22,336
10.1
5.8
5.7
11.0
4.7
5.7
10.5
4.8
5.3
6.3
5.9
6.3
5.9
5.6
5.5
5.8
5.6
5.7
9.9
9.0
9.5
8.3
9.9
9.0
10.1
9.2
10.1
9.5
10.3
9.5
10.3
9.6
10.4
9.5
10.5
9.5
Steel (carbon), finished, composite price.. .$ per lb.0850
.0873 .0871 .0872
.0891
.0891
.0903 .0903 .0908 .0908
r
Revised.
* Preliminary.
» Annual total; mo nthly rev Isions are not availiible.
* For moQth show n.
' For etaren monl hs.
.0931
11,916
149.3
10.0
5.6
6.1
10.1
6.1
6.1
10.1
6.2
6.2
10.1
6.0
6.0
9.8
5.6
5.9
10.0
5.2
5.0
10.0
5.3
5.3
9.8
5.9
6.1
5.8
6.1
'5.9
5.9
10.8
9.6
11.0
9.5
11.0
9.5
11.0
9.6
.0933
.0933
.0933
10.0
'6.4
'6.2
9.8
5.6
5.8
11.3
9.8
Dec.
SURVEY OF CURRENT BUSINESS
January 1970
1967
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1968
1969
1968
Nov.
Annual
S-33
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. sh. tons
Recovery from scrap (aluminum content) do
309 4
323 8
90 0
313.0
88 0
321.2
71.0
318.0
76.0
313.0
77.0
326.9
R7 Q
42 1
56
23 7
41 1
54
24 5
41.4
5.7
38.1
37.4
4.3
34.9
35.6
4.4
43.1
32.9
4.4
43.9
28.6
3.9
31.6
45 0
.2700
43 4
.2700
45.6
.2700
53.0
.2700
42.8
.2700
44.9
.2765
.2800
931 5
687 5
337 4
151 7
928 8
656 6
321 5
145 1
873.6
626 9
302.4
124 1
849.5 '933.3
606.5 '640.7
297.5 '300.7
932.5
648.1
298.9
149.3
124 3
25 0
36.4
135 6
128 6
151 0
127 3
23 7
36 8
129 3
141 g
118 2
23 6
40 5
123.2
134.5
113 5
21.0
37.5
125.2
130.4
108.9
21.4
39.1
127.7
133.6
111.4
22.2
40.6
140.6
157.1
127.5
29.5
44.9
140.0
145.6
123.9
21.7
41.0
39.5
10.9
40 8
11 0
44.2
13 7
32 5
33.7
8.5
36.3
9.4
38.3
7.2
32.9
12.3
36.3
15.8
18 2
14.6
31 6
24 0
27 7
19 0
24 0
15 7
90 7
23.2
16.3
28 9
18.5
28.1
17.9
23.8
15.6
21.2
13.7
179.6
187 6
118.4
174.8
179.1
105.2
180.3
165.9
103.5
187 0
153 8
106 6
183 6
152 3
108 5
104 1
141.7
164.5
122.7
180.1 "194.7
167.5
159.4 '138.9 *> 150. 2
115.8 '92.5 *95.1
.4390
.4423
.4479
.4495
.4589
.4642
.4645
.4832
3,269.3
1
820 0
3, 255. 0
873.0
291.6
72.0
300.1
72 0
313.6
77 0
286.1
77.0
317.2
77 0
450.5
56.3
209.0
685.2
61.8
180 3
38.4
5.5
18 1
51 8
47
16 4
30 5
1.4
11 6
45.1
4.8
79
49.2
5.7
12 1
oi o
218.9
.2498
8
70. 9
.2557
99.4
.2600
70 9
.2600
«64 6
.2655
52 9
.2700
54 6
.2700
.2700
8,836.9
6,3506
2,868.1
1 534 7
9, 981. 3
7 209.8
3,404.6
1 568.3
807.0
583 7
268.4
135.0
853.2
575 0
270.1
133 4
885.0
642.8
307 9
156 5
880.8
637.7
322.0
144 4
907.6
659.3
317.9
151 6
954 1
1,133.0
846.6
286.4
394.5
1,204.6
1, 437. 4
1 160.9
276.5
400.9
124.0
165.2
139 4
25.9
33.7
124.7
162.0
131 5
30 5
34.7
120.9
154.0
131 4
22.6
37.5
118.6
131.2
115 4
15 8
32.0
132.9
155.3
126.5
28.8
37.9
644.1
328.3
716.7
405 4
35.5
7.2
34.5
47
11.7
8.3
37.4
6 4
241.8
159.4
360 8
240 7
35 2
28.1
29 2
23 0
15 8
13.0
1,948.2
Consumption, refined (by mills, etc.) -. _ -do
Stocks, refined, end of period
do
169.5
Fabricators'.___
do
114.1
Price, electrolytic (wirebars), dom., deliveredt
$ per lb__ 2.3863
1,876.4
171.5
114.9
179.6
165 2
112.7
162.0
171.5
114.9
5.4225
.4211
.4211
Imports (general):
Metal and alloys, crude
Plates, sheets, etc
Exports metal and alloys, crude
do
do
do
Stocks, primary (at reduction plants), end of
period
thous sh. tons
Price, primary ingot, 99.5% minimum $ per lb_.
Aluminum shipments:
Ingot and mill products (net)
Mill products, total
Plate and sheet (excluding foil)
Castings
mil. Ib
do
do
do
Copper:
Production:
Mine, recoverable copper
thous. sh. tons
Refinery, primarydo
From domestic ores
do
From foreign ores
do
Secondary, recovered as refined
do
Imports (general) :
Refined, unrefined, scrap (copper cont.)_.do_ _.
Refined
*
do
Exports:
Refined and scrap
do
Refined
do
01 ft
7 n
M
(\
QAQ A
fi.11 A
9.19 1
1 en ft
Copper-base mill and foundry products, shipments
(quarterly total):
Copper mill (brass mill) products
mil Ib
Copper wire mill products (copper cont ) do
Brass and bronze foundry products
do
2 595
2 356
966
2 757
2,364
968
Lead:A
Production:
Inline recoverable lead
thous sh tons
Recovered from scrap (lead cont )
do
316 9
1553 8
i 359 2
i 550 0
37 9
48 0
37 9
44 4
37 2
49 9
35 1
49 3
38 8
53 8
42 6
50 9
44 2
49 7
488 4
424 6
1 260 5 11 328 8
32 3
115 4
OQ 1
19 1
115 0
26 3
104 g
36 5
116 5
47 1
112 1
114 4
Imports (general) ore (lead cont ) metal
Consumption total
do
do
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content) ABMS
thous sh tons
Refiners' (primary), refined and antlmonial
(lead content)
thous sh tons
Consumers' (lead content) cf
do
Scrap (lead-base, purchased), all smelters
(gross weight)
thous sh tons
Price, common grade (N.Y.)
$ perlb.Tin:A
Imports (for consumption) :
Ore (tin content)
Bars, pigs, etc
Recovery from scrap, total (tin cont )
As metal.
Consumption, pig, total
Primary
_ _ _
Exports, incl. reexports (metal)
Stocks, pig (industrial), end of period
Price, pig, Straits (N.Y.) /prompt
17 n
194 1
•100 Q
832
671
260
831
617
269
770
630
239
IRQ
.5248
44 4
44.1
45 4
48.8
'43 5
53.0
41 7
55.4
32 i
115 9
38 1
100.5
36 6
111. 7
25 1
122.5
37 5
130.5
160 2
146 8
153 2
146 8
139 4
143 5
135 5
135.0
150 1
160.7
171.0
176 1
15 1
83.8
15.2
83.8
15 1
83.8
14 1
82.4
10 1
87.9
134 0
11 2
105 7
136.7
4 23 4
4
105 8
12.9
121.3
18 7
127.6
18.1
135.6
15.0
142.4
17.7
15.3
145.1 ' 146. 6
20.5
141.3
54 5
.1321
48 1
.1300
54 5
.1300
55 4
.1341
54 5
.1400
56 4
.1400
55.2
.1440
54 3
.1450
51 6
.1486
55 9
.1545
59 0
.1550
61.3
.1550
59.2
.1550
Q
OR
6 302
4 226
1 930 1 765
255
235
6 495
6 485
4,555 4 470
0
2 396
1 965
'225
6 920
4 810
o
o
o
o
o
o
6 524
1 875
225
6 330
4,585
5 218
1 970
255
6 755
4 890
6 590
2 120
'235
7,250
5,145
7 177
1 935
275
7 130
5 075
4 544
1 980
270
6,905
4,965
3 607
1 710
*250
6 435
4,870
124
14,680
1.6200
4
58 0
.1400
0 OKK
0 Oftfi
57 358
122 495
12 978
81*961
58 859
do
2 509
do
18*662
$ per ib._ 1.5340
5 027
18*534
1. 4811
805
16 270
1.6214
460
18,534
1.6346
110
14985
1.6250
198
13 810
1.6518
244
15 515
1. 5552
137
15,635
1.5681
154
14 940
1. 5667
581
15, 325
1.5900
o
o
o
4 805
1 895
195
6 625
4,695
5,312
83
13,645
1.6590
270
16,045
1.6564
143
16,250
1.6671
4,738
1 775
'260
6 455
4,665
549 4
529 4
44 2
43 3
41 9
42 6
44 4
47 4
47 o
46 2
44.6
46.6
'46.5
46.5
534 1
221 4
546 4
54.9
23 6
44 1
31 2
48 8
16 7
43.6
22 7
43.1
28 4
37 6
59 6
00 I
71 6
25 9
49.4
32 8
47.1
27 6
50.9
31 4
57.0
25 7
Consumption (recoverable zinc content) :
Ores
do
Scrap, all types
do
1 114 3
1240 9
l 124 1
1
270 6
11 4
19.9
10 5
19 3
10 8
19 0
93
18 8
10 1
19 7
10 8
19 3
11 9
19 7
10 7
19 0
10.0
18.6
10.3
19.0
12.3
19.2
13.0
20.4
86 6
53
113 8
94 5
61
126 8
4.9
92.5
5.3
117 8
.1
93 7
5.7
117 8
.2
92.7
5.0
115.8
.4
91 4
4.6
102 7
.2
88 6
4.8
110 8
2.2
90.0
4.6
116 0
.7
88.0
6.5
122.0
.4
R
Slab zinc:
Production (primary smelter), from domestic
91 4
and foreign ores
thous sh tons
91 9
94 0
*938 8 rii 020 9
i 73 5 r i 79 9
Secondary (redistilled) production
do
65
60
61
Consumption fabricators'
do
108 9
119 1
1 2368 11 333 7 116 7
(3)
Exports
._
do
' 16*8
33 0
1.3
(*)"
Stocks, end of period:
Producers', at smelter (AZI)O
do
67.4
67.6
50.9
81.9
'63.1
Consumers'
.
do
73.9
97.5
102 5 r!02 4
96 3
Price, Prime Western (East St. Louis).$ per Ib. . .1384
.1350 .1350 .1384
.1350
'Revised.
» Preliminary.
i Annual total; monthly revisions are not available.
* Jan.-Aug. average.
3 Less than 50 tons.
< Reported yearend stocks. See BUSINESS
STATISTICS note.
«Average for Apr.-Dec.
8 Beginning Jan. 1969, data are not comparable with those for earlier periods; stocks reflect different method of reporting by one
producer.
AData reflect sales from the Government stockpile.
(8)
OQ Q
.5289
28 2
.1559
.1603
o
3,975
7,105
4,925
ZincrA
Mine production, recoverable zinc
thous sh tons
Imports (general):
Ores (zinc content). __
do
Metal (slab blocks)
do
OAK
.5252
717
676
250
45.5
50.1
34 6
114.6
49 924
i 22 667
13 176
80 638
57 848
IK tons
do
do
do
do
do
.5176
.2800
320
1.7596
1.8132
53.0
23 8
.1
78.3
61.4
42.9
37.9
45.9
43.7
51.1
48.6
38.1
42.7
48.8
109.0
101.8
97.9
97.3
104.0 ' 105. 7 100.8
99 3
94 6
.1400 .1400 .1400 .1450 .1450 .1450 .1450 .1486 .1550 .1550 .1550
t Revised. Beginning in the June 1969 SURVEY, averages are delivered prices; differential
between delivered and former refinery price is 0.400 cents per Ib.
cf Consumers' and secondary smelters' lead stocks in refinery shapes and in copper-base
scrap.
O Producers' stocks elsewhere, end of Dec. 1969,11,900 tons.
SURVEY OF CURRENT BUSINESS
S-34
1967
Unless otherwise stated, statistics through 1966
and descriptire notes are shown in the 1967
edition of BUSINESS STATISTICS
1969
1968
| 1968
Nov.
Annual
January 1970
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
METALS AND MANUFACTURES—Continued
HEATING EQUIPMENT, EXC. ELECTRIC
Radiators and con vectors, shipments:
Cast-iron
mil. SQ. ft. radiation
Nonferrous
do
Oil burners:
Shipments
thous
Stocks end of period
do
Ranges, gas, domestic cooking (incl. free-standing,
set-in, high-oven ranges, and built-in oven
broilers), shipments
thous
Top burne'r sections (4-burner equiv ) ship do
Stoves domestic heating, shipments, total, do
Gas
do
Warm-air furnaces (forced-air and gravity air-flow),
shipments total
thous
Gas
do
Water heaters gas shipments
do
79. 2
7 7
64
.5
7.7
.6
6.4
.6
6.3
.3
5.1
.3
5.7
.4
6.6
.3
5.8
.4
7.0
.6
7.9
.6
9.0
1513 2
3
53 9
677 7
29 5
68 3
27 0
55 3
29.5
59.8
24.5
50.1
28.2
52.5
29.3
51.7
28.2
46.0
21.2
52.2
27.9
40.3
30.5
63.1
28.3
66.1
23.7
71.2
20.6
12,084. 5
194 3
2,273 2
206 1
201.0
16.7
202.8
16 6
179.7
14.7
191.7
16.6
226.3
18 7
197.3
15.5
203.0
17.0
213.3
17.8
169.0
15.6
221.2
15.8
230.3
18.3
1
1,346.8 1, 362. 9
'920.0
968.5
143.7
108.7
76.7
52.3
73.3
42.6
61.4
32.1
83.4
51.5
80.4
51.8
85.9
60.7
98.2
68.6
128.5
95.7
176.4
133.5
' 172. 0
' 132. 1
189.3
143.8
i 1,448.7 1, 727. 1
» 1,145.7 1, 372. 0
2,602.3 2, 705. 9
174.2
134.6
230.0
144.7
115.2
207.6
147.9
122.6
246.3
136.6
112.5
231.9
142.1
116.6
244.7
133.0
110.7
270.1
143.9
120.2
227.7
147.8
120.3
210.8
154.1
124.7
208.2
172.3
136.3
205.5
'202.3
153.9
233.0
220.4
170.7
310.2
*9 8
84 8
2
6.4
.4
.5
MACHINERY AND EQUIPMENT
Foundry
equipment (new), new orders, net
mo. avg. shipments 1957-59=100
Furnaces (industrial) and ovens, etc., new orders
(domestic), net
mil. $
Electric processing
do
Fuel-fired (exc for hot rolling steel)
do
Material handling equipment (industrial) :
Orders (new), index, seas, adjd*
1957-59=100
Industrial trucks (electric), shipments:
Hand (motorized)
number
Rider-type
do
Industrial trucks and tractors (internal combustion
engines) shipments
number
Machine tools:
Metal cutting type tools:f
Orders, new (net), total
Domestic
Shipments, total
Domestic
_
Order backlog, end of period
Metal forming type tools:!
Orders, new (net) , total
Domestic .
Shipments, total
Domestic
Order backlog, end of period
mil. $
do
do
.do
do
do
do
do
do
do
300.5
270.3
307.0
355.6
503.2
325.1
328.0
628.5
268.6
419.7
469.1
318.3
273.0
307.2
i 140.7
i 12.3
171.6
1 121. 2
1 12 1
164.6
9.2
1.7
4.0
8.0
12.0
12.4
17.0
10
1.9
9.8
9.7
.6
6.6
10.4
4.6
6.9
8
3.9
.8
6.9
8.4
1.2
4.7
6.4
.3
4.0
5.9
1.6
2.2
6.7
.6
3.1
9.5
5.8
1.8
.5
3.8
1.1
6.7
197.9
220.4
233.8
254.9
275.4
216.0
288.1
287.8
233.8
241.3
225.0
215.2
251.2
11,133
12, 174
10 753
12, 243
939
845
1,027
1 081
1,046
1,248
1,267
1,221
1,284
1,394
1,257
1,336
1,205
1,037
1,494
1,041
1,028
1 116
1,026
900
1,282
1,352
1,348
1,391
1,069
1,282
41,996
42 601
3,473
3,349
4,183
3,850
4,257
3,958
5,137
4,223
3,777
4,074
4,429
4,220
4,010
1,134.95 1, 079. 35
1, 024. 65
959 90
1,353.20 1,358 30
1, 211. 05 1, 238. 30
1,088.5
809 6
97.60
88.60
103.55
96.50
829.6
110. 15
98.55
130. 15
122.65
809.6
91.20
76.00
86.45
82.80
814.3
93.15
83.15
97.70
90.60
809.8
115.90
100 85
105.30
94.70
820.4
182. 35
173. 60
101. 10
91.95
901.6
113.20
99.05
98.45
88.90
916.4
112.70
99.90
12220
112.40
906.9
87.35
70.00
83.85
75.05
910.4
66.70
56.45
74.05
63.15
903.0
80.20
76.70
26.50
23.05
252.9
39.55
33.90
37.95
33.75
254.5
36.30
32.75
28.30
25.85
262.5
45.70
43.10
32.80
28.70
275.4
45.75
40.70
33 55
30.85
287.6
90.20
86.95
29.05
25.70
348.7
55.70
52.75
31.95
29.50
372.5
49.70
45.60
40.00
35.85
382.2
40.65
37.10
27.90
26.25
394.9
38.60
33.30
30.70
28.05
402.8
286.65
248. 15
452. 75
406.90
228.3
Other machinery and equip., qtrly. shipments:
Tractors used in construction:
Tracklaying, total
. .
mil $ 1 377.8
792 8
Wheel (contractors' off-highway)
do
Tractor shovel loaders (integral units only), 17
wheel and tracklaying types
mil. $
407.0
Tractors, wheel (excl. garden and contractors'
off-highway types)
mil. $
*986 2
Farm machines and equipment (selected types),
excl. tractors
_
mil. $
1 203.5
394 75
360.55
368 60
324.45
254.5
231.0
1 453. 4
109.6
82.00 ••89.00
58.50 '77.40
108.40 '104.60
96.65 '94.00
876.6 '861.0
78.90
67.55
91.70
83.25
848.2
27.70
23.95
34.85
32.80
395.7
'45.00
' 36. 25
'43.20
'40.40
'397.5
30.30
26.10
39.25
34.05
388.5
441.5
147.2
45.1
134.8
53 5
107.4
49 0
138.4
1502.6
129.7
167.0
' 173. 0
1 938. 4
220.8
222.5
247.5
175.6
1,221. 5
237.0
363.5
«• 320. 2
228.6
499.1
ELECTRICAL EQUIPMENT
Batteries (auto replacement) shipments
thous
Household electrical appliances:
Ranges, incl. built-ins, shipments (manufacturers'), domestic and export
thous
Refrigerators and home freezers, output
1957-59—100
Vacuum cleaners sales billed
thous
Washers, sales (dom. and export) t
do
Driers (gas and electric), sales (domestic and
export) .
thous
Radio sets, production©
do
Television sets (incl. combination), prod.O.-do
Electron tubes and semiconductors (excl. receiving,
power, and spec, purpose tubes), sales
mil. $
Motors and generators:
New orders, index, qtrly
1947-49—100
New orders (gross) :
Polyphase induction motors 1-200 hp
mil $
D.C. motors and generators 1-200 hp
do
32 061
34 960
3 722
3 673
3 768
1 909 7
2 308 8
201.7
194 1
145 8
5 677 4
4 376 0
165 6
6 653 1
4 517 9
166.3
563.4
344.8
159 7
699 7
298 7
2 642 3
2 861 8
289.2
21 698
10,881
22 566
11,794
1,982
1,063
712 0
690 1
55.8
59.0
205
206
6
97 6
47 5
6
96 6
49 5
37
2 485
194.2
200.6
209 2
212.2
515 9
332.9
207.3
514 6
381.5
196 6
499 6
395 4
190.0
220.9
1,534 51,860
845 5 1, 070
1,239
614
51.8
2 329
2 094
194.0
196.7
208.0
212.9
188.0
560.7
355.5
205.1
551.6
362.3
210.2
666 4
377.5
219.7
602 5
332.8
257 6
274.4
247.7
237.2
173.3
146.1
82,449
81,150
1,769
960
1,714
1,002
»2,085
81,235
1,532
865
56 9
60.6
68.1
64.4
205
672
2 324
2 680
6
89
39
1 950
64.5
80
36
eg 7
4 2
8g 9
4.8
4,480
195.2
194.6
242.2
144.6
125.0
562 8
417.9
194.1
765 0
433.5
201.8
728.7
462.8
98.6
645.0
290.8
276.1
350.4
394.6
1,827
877
8 2, 211
5 1, 167
1,838
984
63.5
71.2
69.3
61.1
9
99
4 2
8
98
56
^95
5.3
10 3
4 0
U0.3
68.1
4.4
3.6
866
70
736
63
268.2
'1,504 « 1,439
»766
888
213
236
210
6
69.5
4 Oil
3,074
6
88
4 8
80
38
6
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
_
thous. sh. tons.. 12,256
988
960
11,631
917
Exports..
do
53
595
518
37
17
Price, wholesale, chestnut, f.o.b. car at m'ine
$ per sh. ton.. 12. 892
13.813 14. 175 14.955 14.955
Bituminous:
Production
thous. sh. tons.. 552,626 545,223 44,612 45,227 47,702
2
' Revised.
1 Revised total; monthly revisions are not available.
Total for 11 months.
s Reported yearend stocks. See BUSINESS STATISTICS.
* For month shown.
* Data cover
5 weeks; other periods, 4 weeks.
« Excludes orders for motors 1-20 hp.; domestic sales of
this class in 1968 totaled $108.6 mil.; Nov. 1969, $8.9 mil.
7 Effective 1st quarter 1967,
tractor shovel loaders include types not
previously covered and off-highway wheel tractors
8
exclude types previously covered.
Data cover 6 weeks.
900
14
1,014
18
1,038
39
926
76
880
59
807
194
952
111
873
41
15.002
15.002
14. 708
14.220
14.220
14. 778
14.778
15.268
891
41, 930 44,017 46,911 48,683 43,366 36, 914 47,633 47, 270 53,538 44,035 48, 164
^Effective with Apr. 1969 SURVEY, data revised back to Jan. 1966.
fRevised series. Monthly data for 1956-66 are on p. 35 ff. of the Mar. 1968 SURVEY.
J Revised to include combination washer-driers.
ORadio production comprises table, portable battery, auto, and clock models; television
sets cover monochrome and color units.
SURVEY OF CURRENT BUSINESS
January 1970
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
Annual
1968
Nov.
S-35
1969
Dec.
Jan.
Feb.
Mar.
July
Aug.
Sept.
Oct.
38,584 39,004 39,466
22,383 23, 142 24,391
15,643 15, 452 14,709
7,652 7,954 7,743
42,074
27, 173
14, 418
7,833
41,828
26, 794
14,456
7,840
39,691
24,544
14,360
7,714
41, 794
25, 226
15,449
8,091
335
442
538
748
1,095
82,084 82,763
62,097 62,297
19,875 20,316
8,743 8,822
74, 397
56,758
17,480
6,470
75,128
56,975
17,980
6,618
78,712
59,046
19,502
7,338
83,488
62, 328
20,996
8,376
Apr.
May
June
Nov.
Dec.
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL— Continued
Bituminous— Continued
Industrial consumption and retail deliveries,
total 9
thous sh tons
Electric power utilities __
do
Mfg. and mining industries, total
do
Coke plants (oven and beehive)
do
Retail deliveries to other consumers
do
Stocks, industrial and retail dealers', end of period,
total
thous. sh. tons..
Electric power utilities
do
Mfg. and mining industries, total
do
Oven-coke plants
_.
..
do
Retail dealers
do
498, 830 41,357 46,472
294, 739 24,781 27, 869
188,450 15, 196 16,759
90,765 6,710 7,302
17,099
15, 224
1,339
1,830
93,128
69,737
23,212
10,940
85,525
64,168
21, 169
9,537
90,518
68,613
21,725
9,554
85, 525
64,168
21, 169
9,537
48,558
29,041
16,919
7,452
42,268
24,771
15,490
6,971
44,410
26,304
16,594
7,665
2,597
2,007
1,509
530
78,152 76,056
58,713 57,018
19,291 18,913
8,650 8,222
72, 416
54,762
17,569
7,422
77,054
58,267
18,699
8,001
374
179
188
180
188
148
125
85
88
112
150
159
173
164
164
49,510
50,636
4,534
4,249
3,654
2,939
2,680
4,503
6,010
5,712
4,836
4,927
4,882
5,508
5.217
6.795
5.397
6.944
5.607
7.421
5.804
7.488
5.804
7.456
5.804
7.456
5.804
7.456
5.847
6.988
5.897
6.988
5.932
7.081
6.068
7.343
6.068
7.414
6.068
7,529
806
63,775
18, 187
773
62, 878
19,038
46
4,669
1,577
49
5,137
1,651
43
5,177
1,481
42
4,873
1,482
52
5,297
1,675
60
5,312
1,674
53
5,523
1,689
53
5,347
1,771
47
5,387
1,811
70
5,412
1,752
76
5,274
1,734
69
5,552
5,467
4,961
506
1,364
710
5,985
5,637
348
1,239
792
5,929
5,590
338
1,240
82
5,985
5,637
348
1,239
99
5,865
5,542
323
1,298
105
5,565
5,278
286
1,299
77
5,019
4,796
223
1,261
157
4,507
4,310
197
1,309
148
4,162
3,969
193
1,318
130
3,896
3,729
167
1,382
178
3,787
3,594
193
1,314
181
3,816
3,629
186
1,235
121
3,699
3,553
146
1,131
100
3,430
3,309
121
15,367
3.02
3,582.6
93
14,426
3.06
3,774.4
93
1,159
3.06
304.8
90
1,877
3.06
324.7
92
1,156
3.06
303.8
86
799
3.06
299.3
94
1,344
3.18
325.7
92
1,094
3.21
312.1
92
1,036
3.21
326.2
90
1,277
3.21
324.7
92
1,091
3.21
339.2
94
1,261
3.21
334.9
92
1,107
3.21
324.4
92
325.8
mil bbl
4,656.3
4,921.0
399.9
427.0
427.7
388.9
435.9
418.8
429.1
417.1
424.5
423.8
430.7
441.3
do
_do
3,215.7
514.5
3,328.9
550.3
269.3
46.5
276.1
48.3
275.0
48.7
249.4
45.5
280.1
49.6
277.0
47.6
289.3
49.3
288.3
47.2
287.2
48.7
280.7
49.0
278.1
47.4
284.5
50.1
do
do
411.6
514.3
474.7
563.7
40.8
43.1
52.1
50.0
37.6
66.4
40.1
53.9
48.4
57.9
46.1
48.1
46.6
43.8
43.8
37.8
43.2
45.4
48.4
45.8
46.4
47.8
47.8
46.6
Exports
do
Prices, wholesale:
Screenings, indust. use, f.o.b. mine
$persh. ton..
Domestic, large sizes, f o b . mine
do
COKE
Production:
Beehive
_.
Oven (byproduct)
Petroleum coke§__ _
Stocks, end of period:
Oven-coke plants, total
At furnace plants
At merchant plants
Petroleum coke
_
Exports
_
480,416
271, 784
191,066
92,272
thous. sh. tons..
do
do
do
do
do
do
do
__
123
5,751
146
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
Price at wells (Oklahoma)
Runs to stills
Refinery operating ratio
number
$ per bbl
_. mil. bbl
% of capacity
All oils, supply, demand, and stocks:
New supply, total c?
Production:
Crude petroleum
Natural-gas plant liquids
_
Imports:
Crude and unfinished oils
Refined products
Change in stocks, all oils (decrease,-)
Demand, total
Exports:
Crude petroleum
Refined products
Domestic demand, total 9
Gasoline___
Kerosene
_
Distillate fuel oil....
Residual fuel oil
Jet fuel
Lubricants...
Asphalt
Liquefied gases
_
__
_.
Stocks, end of period, total 1
Crude petroleum .
Unfinished oils, natural gasoline, etc
Refined products
Refined petroleum products:
Gasoline (incl, aviation):
Production
Exports..
_
_
Stocks, end of period
_do
63.0
55.5
-5.8
-36.1
-61.2
-32.6
-2.0
17.4
28.9
25.8
18.2
10.2
9.3
5.5
do
4,593.3
4,872.8
406.8
463.3
490.3
420.7
437.8
402.8
401.9
390.7
408.8
414.1
410.1
422.4
do
do
do
do
do
26.5
85.5
4,481.2
1, 842. 7
100.1
1.8
83.4
4,787.6
1,955.8
103.1
.4
6.6
399.8
158.4
10.5
.1
7.2
456.0
161.7
13.4
0
5.8
484.5
158.4
15.5
.2
6.1
414.3
145.2
11.9
.2
6.9
430.7
159.8
10.2
.1
6.7
396.0
168.6
5.8
.2
7.6
394.1
177.6
5.5
(2)
7.5
383.2
173.1
4.5
0
6.5
402.3
188.4
5.6
.1
8.5
405.4
185.0
5.2
.1
7.6
402.4
171.0
7.3
.2
7.0
415.3
177.2
7.1
do
do
do
818.2
651.9
300.8
862.7
679.9
348.3
76.4
57.6
28.5
106.7
71.4
29.4
119.2
82.5
28.9
96.3
68.1
26.2
91.1
68.1
30.6
66.9
58.6
28.7
58.7
51.8
29.8
51.6
47.5
31.4
49.9
48.4
31.7
50.8
51.3
31.2
58.2
54.5
30.9
65.6
55.5
28.0
do
do
do
44.1
131.1
344.5
48.2
141.1
385.7
3.8
9.0
36.4
3.9
5.5
42.7
3.7
4.0
52.1
3.6
5.1
39.1
4.0
5.7
38.2
4.2
9.3
31.6
4.4
13.5
29.1
4.1
17.0
29.4
4.3
18.4
30.4
4.1
19.1
32.4
4.1
19.2
33.3
4.6
16.7
39.1
1944.1
249.0
196.0
1599.2
999.6
272.2
98.9
628.5
,035.7
271.6
99.9
664.2
999.6
272.2
98.9
628.5
938.3
279.5
96.0
562.8
905.7
265.3
99.4
541.1
904.7
264.2
100.6
539.9
922.1
273.2
106.6
542.3
951.0
281.3
111.5
558.3
976.9
284.5
110.3
582.0
995.1 1 005 2 L 014 5 1,020.0
267.7 '262.' 5 264.3
277.5
104.3
104.3
108.7
104.6
608.9
632.9 647.7 651.5
1,845.8
4.9
208.0
1,940.0
2.3
211.5
162.4
.1
198.9
172.9
.1
211.5
159.2
.1
214.5
151.6
.1
222.6
163.9
(2)
229.2
154.3
.2
216.6
167.1
.4
207.7
166.0
.2
201.8
177.8
.3
193.1
do.—
do
do
do
do
do
do
Prices (excl. aviation):
Wholesale, ref. (Okla., group 3)
$ per gal..
.113
.117
.110
.110
.115
Retail (regular grade, excl. taxes), 55 cities
(1st of following mo.) .
$ per gal
.226
.230
.226
".233
.235
Aviation gasoline:
Production
mil. bbl
37.1
2.4
31.6
1.5
2.3
Exports
do
4.0
.1
2.1
.1
(«)
Stocks, end of period
do
7.9
7.0
7.0
6.5
7.0
Kerosene:
Production...
do
100.4
101.6
8.7
11.3
9.9
Stocks, end of period
do
25.4
27.1
23.5
19.4
23.5
Price, wholesale, bulk lots (N.Y. Harbor)
$ per gal..
.110
.113
.111
.111
.111
* Revised.
<= Corrected.
'See note "If" for this page.
2 Less than 50 thousand ban-els.
cf Includes small amounts of "other hydrocarbo]is and h1ydrogen r efinery input," ilot
shown separately.
If Beginning 1967, data reflect change in reportingj to show all stock 3 of unfinished oUs,
natural gasoline, plant condensate. and isopentane as one item , and stoc ks of "fin ished pr ad-
1,217
179.6
.3
189.4
174.3
.4
194.3
.3
195.0
.113
.123
.118
.115
.115
.113
.120
.110
".242
'.244
'.242
".245
'.242
".235
".240
".232
".233
1.7
.1
6.5
2.7
(2)
6.6
2.0
.1
6.0
2.2
.3
5.5
2.4
.1
5.3
2.6
.2
5.3
2.5
.1
5.5
2.2
.3
5.4
.2
5.6
11.0
18.6
10.4
18.9
7.2
20.3
7.1
22.0
7.9
25.3
7.5
27.3
7.6
29.7
7.4
29.9
30.6
.239
.111
.111
.111
.111
.111
.111
.111
.111
ucts" as anoth(jr (both items inc lude stewjks at relfineries, ilatural g as processing plants, terminals , and buIk statio us). Also , as aresult of inc reased cc>verage i n certain bulk terminals
stocks of distillate and residual fuels are on a neiir basis. Dec. 19ft6 data on new basis (mil.
bbl.): Total stocks, 881.1L; distilla te, 158.1; residual 63.9.
9 In dudes da ta not sh own sep arately.
§Inckides noninarketab le catalyst coke.
SURVEY OP CURRENT BUSINESS
S-36
1967
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1969
1968
1 1968
Nov.
Annual
January 1970
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Distillate fuel oil:
Production.
mil. bbl
Imports
._ __
do
Exports
do
Stocks, end of period.
do
Price, wholesale (N.Y. Harbor, No. 2 fuel)
$ per gal
Residual fuel oil:
Production
mil. bbl
Imports
do
Exports
_
_ _do
Stocks end of period
do
Price, wholesale (Okla., No. 6) .
$ per bbl
804 8
18.5
43
1
1597
840 7
36.6
18
173.2
66 1
25
71 2
47
69.4
66 4
74.0
66.7
67.3
71.3
73.6
71.0
68.9
204 0
173 2
130.6
106 6
96.6
99.8
110.9
132.6
159.1
183.5
197.7
1
1
7.3
.1
6.0
1
7.0
1
3.5
.1
2.6
.1
2.2
.2
2.8
.1
4.3
1
3.5
.1
5.5
.1
208.0
.100
103
101
101
101
101
101
101
.101
.101
.101
101
.101
276 0
395.9
21.9
165 6
1.47
275 8
421 6
20.0
67 4
1 40
23 7
31 8
10
74 0
1.35
27 6
38 3
27.9
54.5
25 3
41.4
23.6
38.8
21.2
34.2
19.4
29.1
19.5
32.3
19 2
34.1
19.5
35.1
67 4
1 35
1.7
63 0
1 60
25 1
42 6
17
59 9
1 60
57 2
1.45
60.2
1.45
62 6
1.45
62 5
1.45
65.1
1.45
273.2
22 2
314.3
24 3
25 8
24 8
25.9
24 3
24.5
22 9
25 4
24 9
26.8
25 6
27.5
26 8
27.8
28 3
28.2
28 4
29.2
29.9
64 9
18.7
14.8
65 7
18 2
14.0
55
13.8
1.7
54
13
14.0
13.9
13.8
14.0
13.9
13.5
12.8
12.8
12.8
12.7
270
270
270
270
270
270
270
270
270
270
.270
270
270
mil bbl
do
127 8
19.9
135 5
20.1
10 9
17.4
7g
20.1
55
21.9
62
24.4
85
27.3
10 2
28.4
12 9
28.3
14 3
26.1
15.2
23.4
14 9
19.5
15 1
16.1
13.2
Liquefied gases (inel. ethane and ethylene): §
Production total
mil bbl
At gas processing plants (L.P.G.)
do
At refineries (L R G )
do
Stocks (at plants and refineries)
do
438 1
326 6
111 5
64 2
469 3
351.3
118 1
76 2
39 2
30.3
89
85 5
41 6
31.8
98
76.2
40 9
31.8
9.1
58.4
38 9
29.8
91
52.5
43 0
32.5
10.5
51.7
41 4
31.1
10.2
57.2
42 7
31.9
10 8
65.6
40 8
30.1
10.7
72.5
41.7
30.4
11.3
78.5
42 1
30.9
11.1
82.4
40 7
30.4
10.3
83.6
79.9
Asphalt and tar products, shipments:
Asphalt roofing total
thous squares
Roll roofing and cap sheet
do
Shingles all types
do
76 500
30 509
45 991
78 045
31 099
46 946
6 113
2 552
3 561
4 540
1 973
2 567
4 612
2 001
2 611
5 022
2 160
2,862
5 159
2,189
2,970
6 136
2 473
3 663
7 322
2 804
4,518
8 082
3 138
4,944
7 922
3,086
4,836
8 185
3 249
4,936
8 871
3 565
5 306
8 867
3,619
5,248
468
445
876
418
411
875
47
28
70
29
19
b2
32
10
64
24
13
70
22
23
68
26
34
73
33
34
78
32
40
83
31
35
76
34
40
80
42
27
85
39
50
84
5 466
5 405
3,949
5 580
5,179
4,241
5,824
5,547
4,537
909
581
883
586
933
607
Jet fuel (military grade only) :
Production. _
Stocks end of period
mil. bbl
do
Lubricants:
Production
do
Exports
do
Stocks, end of period.
__
do
Price, wholesale, bright stock (midcontinent,
f o b Tulsa)
$ per gal
Asphalt:
Production
Stocks, end of period
__
Asphalt siding
Insulated siding.
Saturated felts
do
do
thous sh tons
1.5
4.7
1.9
4 4
g
1.7
5.6
1.4
1.1
5.5
1.4
1.7
57
1.7
1.4
5.3
1.9
1.1
5.5
1.1
35.8
1.6
66 1
1.45
1.0
65.6
1.45
64.2
27.6
30 2
25.1
28 9
29 3
1.5
5.8
1.7
5.4
1.5
1.2
12.5
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
Consumption
Stocks, end of period
Waste paper:
Consumption
Stocks end of period
thous cords (128 cu ft )
do
do
257 219
2
55 773
6 825
57 155
58 358
5,031
4 804
5 099
5 127
4 566
4 738
5 031
4 860
5 153
4 671
4 666
4,829
4,458
5 057
5 387
4 254
4 845
5 050
4 092
4 967
5 320
3,771
5 258
5 413
3,597
thous sh tons
do
2 9 ggg
10 285
586
858
544
798
586
882
584
827
580
931
570
903
585
915
574
883
577
5 224
5 078
3 770
792
608
thous sh tons
do
do
do
2 Oft can
37 903 3 190
1 725
166
24 308 2 074
204
2 508
2 ggg
'l42
1 803
191
3 249
*157
2 110
'l88
3 049
'l31
1,979
189
3 418
156
2 251
206
3 433
124
2 344
189
347
129
298
3 603
144
2 456
199
3 536
151
2 397
196
3 329
127
2 273
181
3 558
'l56
2 420
198
3 379
133
2,280
191
3 647
150
2,482
210
363
135
305
362
135
295
338
132
277
358
133
292
345
132
297
368
131
306
WOODPULP
Production:
Total all grades
Dissolving and special alpha
Sulfate
Sulfite
826
Groundwood
Defibrated or exploded
Soda semichem screenings etc
Stocks, end of period:
Total, all mills
Pulp mills
Paper and board mills
Nonpaper mills
do
do
do
2 i 44g
23 925
2 2 563
23 379
2 i 460
2 3 3g5
do
do
do
do
Exports, all grades, total
Dissolving and special alpha
All other- _
Imports all grades total
Dissolving and special alpha
All other
2
4 237
1 540
3 584
355
104
287
345
130
286
361
131
303
333
128
288
364
134
308
863
365
418
80
741
278
376
86
775
339
367
68
741
278
376
86
771
322
374
75
807
331
396
79
815
313
422
80
862
442
84
840
327
430
83
857
344
433
80
802
284
443
75
790
286
432
72
780
293
418
70
786
284
431
71
do
do
do
1 710
607
1 102
1,902
671
1,231
165
65
99
191
64
128
113
31
82
125
37
88
169
67
102
178
74
104
212
70
142
171
61
111
207
62
145
196
79
118
148
68
80
193
60
133
182
63
119
do
do
do
3 162
265
2 898
3 540
302
3 238
299
19
280
346
38
308
289
22
267
324
18
305
313
26
288
355
27
328
331
23
308
349
27
322
338
Of!
312
307
18
289
320
22
299
400
30
370
356
24
332
4 108
1,843
1,889
10
366
4 100
1*829
1,926
10
334
4 433
l',995
2,093
12
333
4 212
1,874
2,025
12
301
4 676
2*051
2*236
12
377
4 508
1 955
2,156
12
385
4 597 4 535
1 974 1 968
2,221 2 180
11
12
390
376
4 227
1 822
2 029
g
368
4 513
1 976
2 151
11
374
4,158
3,983
4 480
4 236
4 721
4 618
4 596
4 552
4 185
4 560 *4 929
100.6
121.0
91.0
93.8
100.6
121.0
91.4
94.8
102 7
121 0
92 2
97.3
102 7 102 7 102 7 102 7 102 7 102 7 102 7 102 7
121 0 121 0 121 0 122 1 123 2 123 2 123 2 123 2
92 6
93 5
93 5
95 9
93 6
93 7
93 5
95 8
98.2
95.9
95.2
95.1
99.4
99.6 100.4 100.7
§Data have been restated to include production and stocks for chemical use (formerly
excluded).
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census) :
2
All grades total unadjusted thous sh tons
46 893 49 444
Paper
do
220 703 22 122
Paperboard.. .
do
222 346 22 821
2 146
Wet-machine board
do
'l42
2 3 697
Construction paper and board
do
4 358
New orders (American Paper Institute) :
All grades, paper and board
do
46 074 50 207
Wholesale price indexes:
Printing paper
1957-59—100
101 4
101 9
Book paper, A grade
do
117 6
119 6
Paperboard
do
95 0
92 2
Building paper and board.
do_
91.9
92.8
T
p
Revised.
Preliminary.
1
See note "1" for p. S-35.
a
Reported annual total; revisions not allocated to the months.
4 368 ?4 713
1,927 v 2, 087
2,047 v 2, 216
Pl3
12
?397
382
4 814
SURVEY OF CURRENT BUSINESS
January 1970
1967
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1968
Annual
S-37
1969
1968
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Con.
Selected types of paper (API):
Fine paper:
Orders new
thous. sh tons .
Orders unfilled end of period
do
2,645
157
2,880
216
237
226
210
216
274
243
260
244
269
237
271
259
279
200
264
279
240
261
257
264
"238
"258
"290
"274
do
do
2,659
2,658
2,864
2,831
239
223
235
235
264
265
248
247
256
256
208
258
282
263
265
264
237
238
256
257
'246
"245
"285
"284
do. _
do
6,335
449
6,865
502
541
495
533
502
594
498
557
557
620
520
585
555
599
531
573
551
543
512
579
524
"559
"520
"656
"558
do
do
6,332
6,332
6 737
6 737
552
552
557
557
592
592
551
551
617
617
596
596
586
586
585
585
547
547
591
591
"586
"586
"660
"060
do
do
4,678
214
5 012
264
421
282
392
264
463
272
422
282
467
292
416
261
418
253
434
283
403
247
439
269
"403
"257
"442
"260
do
do
4,753
4,685
4 992
4*931
430
422
412
413
443
444
428
423
467
460
418
414
433
422
434
433
383
390
433
427
"417
"416
"444
"440
do
do
do
8,051
7,968
268
8 031
8 096
203
702
761
262
683
742
203
710
644
268
681
615
334
743
726
351
690
684
358
748
794
311
720
721
309
726
720
315
751
705
362
706
725
343
794
804
333
760
808
285
do
do
do
2,620
2,602
39
2 935
2 946
' 27
248
255
43
233
249
27
275
265
38
252
251
38
279
274
44
265
262
47
277
269
55
273
275
53
247
249
51
269
256
63
253
255
62
285
288
58
277
288
46
Consumption by publish erstf1
do
Stocks at and in transit to publishers, end of
period
thous sh tons
6,907
7 025
652
630
564
541
638
616
661
607
550
582
606
666
682
630
633
628
633
64*
655
673
662
678
647
681
683
676
686
665
Imports
do
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered- ..
. $persh ton
6,599
6 462
514
636
489
510
532
567
532
601
604
539
606
614
571
139 95
141 40
141 40
141 40
146 10
146 10
146. 10
146. 10
146. 10
146 10
146 10
146. 10
146. 10
444
618
439
87
454
869
480
511
966
502
454
869
518
467
894
509
530
943
512
556
1 009
528
523
1 042
509
534
1,032
534
528
1 035
'529
464
1 048
463
504
963
514
506
963
489
542
1 004
524
526
965
523
479
939
554
173,834
15,123
13,861
14,884
14,141
15, 474
15, 796
16,056
14,765
14,754
15,519
16,737
17, 856
14,300
14, 515
138 0
136 1
142 2
137 4
134 1
139 1
141 4
143.4
139 6
138 4
144.3
Production
Shipments
... _
Printing paper:
Orders, new ._
Orders unfilled end of period
Production
Shipments
_.
Coarse paper:
Orders, new .
Orders unfilled , end of period
Production
Shipments
_.
Newsprint:
Canada:
Production
Shipments from mills
_ _
Stocks at mills end of period
United States:
Production __
.
Shipments from mills
Stocks at mills, end of period..
Paper board (American Paper Institute):
Orders, new (weekly avg.)
thous. sh. tons
Orders , unfilled §
do
Production, total (weekly avg.)
__do
Percent of activity (based on 6.5-day week)
Paper products:
Shipping containers, corrugated and solid fiber,
shipments
mil. sq. ft. surf. area.. 162,596
Folding paper boxes, shipments, index of physical
volume
1947-49—100
134 5
147.3 "163.0
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
thous Ig tons
Stocks, end of period
do
Imports, incl. latex and guayule
_ do
Price, wholesale, smoked sheets (N.Y.)..$ per lb_.
Synthetlc rubber:
Production
Consumption
Stocks, end of period
thous Ig tons
do
do
Exports (Bu. of Census)
Reclaimed rubber:
Production
Consumption
Stocks, end of period
488 85
111. 66
452. 80
581 86
107 76
540.17
48 97
99 79
43 69
46 79
107 76
49 58
50 41
98*00
21 81
46 40
92 15
49.00
50 01
104 71
59 78
49 29
107 43
54.39
50 54
108 52
48 90
49 54
107 35
46.66
43 gg
104 91
40.84
46 29
104 45
55.19
51 73
107. 41
49.49
54 90
103.66
59.45
49.26
.199
.198
.228
.228
.221
.231
.259
.270
.260
.268
.285
.314
.279
.265
.250
183 03 181 63
154 gs 169 56
369 98 379 54
174 97
163 47
388 14
193 14 186 20
174 07 163 34
392 56 401 22
191 42
165 94
407 01
183 78
168 46
413 46
179 34
147 88
420 86
182 09
157 45
428 41
190 25
176 32
423 78
200 70
187 38
419 42
1 911 87 2 131 10 180 62
1, 628. 26 1 1,896.15 161 93
369. 94
369 98 347 01
do
299.80
291 03
18 28
18 77
4 50
7 03
13 55
25.03
23 22
21 60
18 32
23 65
21.68
24.44
do
do
do
243 65
239 27
28.40
257 22
250 43
29 58
20 19
19 86
29 64
19 88
19 15
29 58
21 71
21 32
29 76
20 22
21 02
30 42
22 12
21 90
30 43
21 69
20 74
31 78
19 74
20 80
30 59
20 16
22 38
30*78
18 06
17 00
31 43
18 93
17 88
31 73
19 27
19 87
31 15
21 32
22 84
29 76
15 829
.238
20.3?
TIRES AND TUBES
Pneumatic casings, automotive:
Production. _
thous
163 192
203 052
16 831
16 186
18 081
17 170
18 269
17 283
16 882
17 4.3*
15 447
Shipments, total
Original equipment
_
Replacement equipment
Export
_
do
do
do
do
172, 939
47 733
123,085
2 121
199 337
58 365
137, 779
3 193
15 450
5*899
9*372
178
13 832
4 898
8 743
15 223
5*062
10074
87
14 160
4 551
9 497
112
17 095
5 212
11 645
20 046
4 966
14,860
219
18 006
4 744
13*077
20 115
5 009
14 847
16 681
2 514
13* 973
Stocks , end of period
Exports (Bu. of Census)
do
do
34, 782
1,450
42,127
2,518
39 698
157
42 127
144
45 124
53
48 469
86
50 365
203
48, 131
191
47 433
174
do
do
do
do
39 775
41 691
11 005
849
43 791
43 957
11 828
1,390
3 474
3 200
11 489
109
3 277
3 031
11 828
87
3 899
4 720
11 203
73
3 584
3 466
11* 190
51
3 756
3 602
11 546
118
3 562
3 600
11 586
*115
3 402
3 458
11 871
*130
Inner tubes, automotive:
Production...
_.
Shipments
Stocks, end of period
Exports (Bu. of Census) . _
1QA
p
™£,eviSSd'
Preliminary.
i Revisions for Jan.-Aug. 1968 for synthetic rubber
'xmsumption are as follows (thous. Ig. tons): 162.96; 154.29; 162.07; 155.85; 162.67; 153.44; 135.82;
.54.33.
'
000
1QK
' 9*0
17 752
19 151
r
15 678 !9 494
3 428 r 5 519
12 025 13, 718
004.
' 101
258
20 390
5 836
14,249
305
45 13 1 44 317
147
264
44 686
275
43, 386
322
42 231
322
187
ion
aq QOQ
q nqo
q AQK
11 103
3 576
3 826
11 171
111
3 913
4 361
11 020
83
79
q O7K
A
fU1
U
4QQ
91
11 ftRR
66
99
o"As reported by publishers accounting for about 75 percent of total newsprint consumption.
§ Monthly data are averages for the 4-week period ending on Saturday nearest the end of the
month; annual data are as of Dec. 31.
January 1970
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
1968
Nov.
Annual
1969
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
42,988
43,086
43,585
31,249
669.4 '654.6
19.0 ••18.2
170.7 177.8
691.4
20.4
167.6
Dec.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments,finishedcement .
.
thous. bbl
374,017 1 397, 448 30,954
22,760
19,088
20,096
26,106
34 646
39, 271
41, 012
42,386
489.3
16.5
110.4
430 7
16.6
96.0
467.2
18.9
108.5
601.0
22.0
133.6
693 9
23 8
153.5
705.6
23.3
163.5
698.5
21.3
183.1
699.1
22.1
174.7
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil. standard brick
Structural tile, except facing
thous. sh. tons
Sewer pipe and fittings, vitrified _
do
Facing tile (hollow) , glazed and unglazed
mil. brick equivalent
Floor and wall tile and accessories, glazed and unglazed
mil sq ft
Price index, brick (common), f.o.b. plant or
N.Y. dock
1957-59=100
7 117 4 e 7 556.8
192.5
234 5
1, 572. 2 1, 705. 5
603.2
15.3
128.7
240.1
220 6
18.2
20.2
17.2
14.9
17. 9
17 8
17.7
18.4
18.9
16.9
'17.8
19.4
257.5
274 5
21.2
20.2
23 0
21.8
24.8
25 1
25.5
26.2
23.8
24.0
'23.8
24.9
113 4
117 1
119 6
120.2
120 4
120.5
120.5
122 2
122.4
122.6
122.7
122.7
123.2
thous. $
332 067
387 469
108,776
117,708
101,002
98, 425
do
do
131 567
200 500
139 391
248 078
39,539
69,237
39,560
78,148
36,998
64,004
36,385
62,040
GLASS AND GLASS PRODUCTS
Flat glass, mfrs/ shipments
Sheet (window) glass, shipments
Plate and other flat glass, shipments
Glass containers:
Production
225, 579
(fl)
21, 120
19, 921
22,370
19, 362
23,205
21 056
22,453
22, 743
21, 527
22,362
21, 377 -•22,879
20,349
228 766
(«)
18, 705
20, 795
18, 627
17,851
20,801
20 973 21, 242
22,246
21, 795
22,623
22, 732
20, 627
18, 338
23 631
(6)
1,575
1,698
1,858
1 737
2,174
1 882 1,876
1,970
2,055
2 590
2,817
1,919
1,558
57,852
(fl)
4,983
5,017
4,703
4,311
4,546
4 598
4,580
4,745
4,702
5,269
5,333
5,361
4,588
do
do
do
38 185
44 501
19 459
(6)
(6)
(fl)
3,882
3.268
1,586
5,113
3,506
1,673
3,454
3 617
1,557
3,386
3 406
1,513
4,226
4 328
1,818
4 665
4*586
1*743
5,098
4,573
1,598
5,952
4,359
1,823
5,400
5,114
1,594
4,841
4 927
1,668
4,561
4,747
1,840
4,093
3,922
1,853
4,050
3,316
1,607
Medicinal and toilet
do
Chemical, household and industrial
do
Dairy products
___ ..do
38 516
5 664
958
(fl)
(«)
(6)
2,934
417
60
3,237
483
68
2,996
380
62
3 064
386
48
3,220
434
55
3 075
*379
45
3,103
366
48
2,983
366
48
2,556
330
44
2 902
381
45
3,020
366
48
3,038
397
44
2,884
289
46
24,626
23, 518
27, 146
28,512
30,798
30 700
31,680
31,962
31, 470
30,960
_.
_
_
thous. gross
Shipments, domestic, total
do
General-use food:
Narrow-neck food
do
Wide-mouth food (incl. packers' tumblers,
jelly glasses, and fruit jars)
thous. gross
Beverage
_
Beer bottles
Liquor and wine.
Stocks, end of period
do
29, 275 31,263 33,020
22 546
23,518
5,454
10 018
1,379
2 566
1 022
2 189
1,450
2,615
1,864
2,729
do
4 722
9 393
7 379
8 844
2,172
2 208
2,317
2 304
do
do
4 511
293
4 935
*301
1,257
74
692
78
1,497
81
1,316
76
do
do
561
813
536
778
121
186
119
165
127
178
124
194
949
7 089
243
999
8 283
*269
235
2 017
64
222
2 025
67
251
2,254
78
236
2,245
70
GYPSUM AND PRODUCTS (QTRLY)
Crude gypsum, total:
Imports. _
Production
thous. sh. tons
do
Calcined, production, total
Gypsum products sold or used, total:
Uncalcined uses
_ _
_
Industrial uses
Building uses:
Plasters:
Base-coat
All other (incl. Keene's cement)
Lath
Wallboard...
All other
mil sq. ft
. do
do.
TEXTILE PRODUCTS
WOVEN FABRICS
Woven fabrics (gray goods), weaving mills:i
Production, total 9
mil linear yd
Cotton
do
Manmade
fiber
do
12,479
8,281
3,981
12, 693
7,408
5,052
998
564
419
903
509
380
21,270
2 686
2562
1,028
577
433
1,034
578
438
21,229
2693
2513
1,018
588
413
1,008
561
432
2983
2526
2440
986
552
420
••965 21,225
533
2671
419
2538
Stocks, total, end of period 9 d*
Cotton
Manmade
fiber
do
do
do
1,386
839
533
1,366
739
611
1,306
717
575
1,366
739
611
1,296
677
604
1,252
640
596
1,245
634
596
1,249
630
603
1,275
651
610
1,333
669
652
1,360
671
674
1,372 '1,376
674
691
'689
668
1,343
663
668
Orders, unfilled, total, end of period 9 If
Cotton.
Manmade
fiber
do
do
do
3,353
2,064
1,209
3,098
1,627
1,384
3,146
1,609
1,451
3,098
1,627
1,384
3,016
1,588
1,338
3,041
1,564
1,374
3,067
1,619
1,343
3,141
1,625
1,413
3,138
1,601
1,443
3,170
1,617
1,470
3,139
1,634
1,420
3,024
1,593
1,358
2,902
1,496
1,333
2,854
1,518
1,264
80
528
1,610
5,789
COTTON
Cotton (exclusive of linters) :
Production:
G innings Athous. running bales
10,917 9,171 310,049 *10, 834
7,439
Crop estimate, equivalent 500-lb. bales
thous. bales
10,948
7,458
Consumption
do
9,215
658
577
2806
8,568
Stocks in the United States, total, end of period
thous. bales. . 14,563 13, 010 13,854 13,010 12, 155
Domestic cotton, total
do
14, 472 12,958 13, 798 12,958 12, 108
On farms and in transit. __
do...
1,509
1,580 3,484 1,580 1,075
Public storage and compresses.
do.. I" 11,369
9,807
9,312
9,807 8,839
Consuming establishments
do
1,594
1,571 1,721
1,571 1,47*
Foreign cotton, total
do
52
91
56
52
48
r
Revised.
1 Reported annual total; revisions
not allocated to the months.
2 Data
3
coyer 5 weeks; other months, 4 weeks.
Ginnings to Dec. 13. * Ginnings to Jan. 16.
6 Crop for the year 1968.
• Data not available owing to lack of complete reports from
tn
? industry.
7 Dec. 1 estimate of 1969 crop.
9 Includes data not shown separately.
^Effective Aug. 1969 SURVEY, data (1964-Apr. 1969) reflect adjustments to new benchmarks; see Bureau of Census reports: Woven Fabrics (1964-68), Series M22A-Supplement
and (Jan.-Apr. 1969), M22A (69) 1-4 Supplement.
«Corrected.
«10,917
610,948
647
664
2792
656
644
2649
629
634
'2glO
8,390
643
39,1(
7 10,0*
8,303 7,469
11,458 10, 671 9,318
6,520 16,769 15,462 ' 14,056 13, 181
11,413 10,630 9,278 8,269 7,436
6,489 16,736 15, 439 ' 14,035 13, 162
2,906
5,466
506
964
824
400 11,031 9,619
538
678
4,526 ' 7, 526 9,149
8,626
5,925 5,203 4,466
4,258
7,934 6,762
1,294 '1,043 1,107
1,728
1,823
1,447
1,623
1,838
1,805
1,872
19
21
45
41
40
34
33
31
33
23
cf Stocks (owned by weaving mills and billed and held for others) exclude bedsheetini
toweling, and blanketing, and billed and held stocks of denims.
K Unfilled orders cover wool apparel (including polyester-wool) finished fabrics; productio
and stocks exclude figures for such finished fabrics. Orders also exclude bedsheeting, towelmi
and blanketing.
ATotal ginnings to end of month indicated, except as noted.
SURVEY OF CURRENT BUSINESS
January 1970
1967
Unless otherwise stated, statistics through 1966
and descriotive notes are shown in the 1967
edition of BUSINESS STATISTICS
1969
1968
| 196S
Annual
S-39
Dec.
Nov.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
TEXTILE PRODUCTS—Continued
COTTON-Continued
Cotton (exclusive of llnters)— Continued
Exports
thous. bales
Imports
do
Price (farm), American upland
cents per lb_._
Price, middling 1", avg. 12 markets 5
do
Cotton linters:
Consumption
thous. bales..
Production
_
_
do
Stocks, end of period
do
COTTON MANUFACTURES
Spindle activity (cotton system spindles) :
Active spindles, last working day, total _ mil
Consuming 100 percent cotton
do
Spindle hours operated, all fibers, total
bil_.
Average per working day
_ do
Consuming 100 percent cotton
do
Cotton yarn, price, 36/2, combed, knit . $ per Ib
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly.)
mil. lin. yd-.
Orders, unfilled, end of period, as compared with
avg. weekly production _ No. weeks' prod
Inventories, end of period, as compared with
avg weekly production No weeks' prod
Ratio' of stocks to unfilled orders (at cotton
mills) end of period, seasonally adjusted
Exports, raw cotton equiv *
thous bales
Imports, raw cotton equiv.*
do
Mill margins:*
Carded yarn cloth average
cents per Ib
Combed yarn cloth average
do
Blends (65% polyester-35% cotton)
do
Prices, wholesale:
Print cloth, 39 inch, 68 x 72_. cents per yard..
Sheeting, class B, 40-inch, 48 x 44-48.. .do
3,870
95
122.0
122.9
24.2
23.3
1,080
977
617
1,107
998
405
156
359
166
405
170
460
142
498
129
539
20.0
14.4
126.2
.486
94.4
20 0
13.1
128.0
.493
85 9
20 0
13.1
20 0
13.1
19 9
13 0
2 12.2
20 0
13.1
8.6
65
5.6
a7 9
19.9
13.1
10.1
.505
1 049 1.032
1.032
.942
7
WOOL
Wool consumption, mill (clean basis) :
Apparel class
Carpet class __ .
Wool imports, clean yield. _
Duty-free (carpet class)
_
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory,
fine.
_
Graded fleece, % blood
Australian, 64s, 70s, good topmaklng
130
3
568
5
363
6
194
3
20.5
22.1
20.6
22.0
20.1
21.9
21.2
21.9
21.7
21.9
91
2115
90
82
283
9.9
495
.431
2
110
488
97
9.8
490
6.4
1 032
1 032
••1,782
147
1
141
4
20.5
21.6
19.4
21.4
85
92
168
13
123
6
21.7
21.7
21.4
21.9
97
497
69
458
42
431
34
401
52
326
r
!48
r
361
152
406
20 0
13.1
10.0
19.9
13.0
19.7
12.7
19.7
'12.6
2
12. 1
19.7
12.6
501
6.5
.490
6.4
19.9
12.9
210.2
.406
2
6.4
19.8
12.8
.480
.480
6.6
19.9
13.0
12.1
.486
28.0
6.2
6.1
1.032
1.027
1 027
1.024
1.024
1.024
1.027
a
9.8
9.6
9.6 '
r 27.7
••.483
9.5
475
6.1
1,822
' 7, 477
13 8
12 4
13 8
13 2
12 4
12.6
13 2
12 3
13.0
17.5
12.9
12.7
12 8
13 1
52
53
50
53
56
5 2
5.0
51
50
5.2
6.8
5.3
5.4
54
51
35
40
40
40
43
43
41
39
40
.39
38
40
.41
42
39
268 1
527 0
256 0
559 6
25.5
44.1
21.5
36.0
80
16 1
15 4
29 6
35.3
60.9
29.6
71.8
33 5
47 4
28.2
63.5
23.7
45.5
27.1
57.2
26.3
45.2
30 1
43.2
39 1
48 9
37.75
75 60
61 45
37 73
8 93 25
64 40
40.80
42 02
42 53
98 55 3109 27
60 68
58 60
43 08
109 24
55 01
42.92
42.71
108 08
42.81
107. 28
43.51
107 42
44.03
106 90
107 60
58.70
42 73
108 30
60 94
43.02
107 86
55.15
60.03
59.52
44 06
107 46
60 36
43 96
107 87
60 71
17.3
18.6
17.8
18.4
18.8
18.4
18.5
18.4
18.5
18.4
19.0
18.4
19.0
18.4
19.0
18.5
19.0
18.8
19.0
9 292
11 859
1 003
8
11
4
12
4
18. 4
95 20
60 51
1,824
17.8
18.4
17.8
18.4
1,393.5
190.4
442.4
444 2
417.4
108 3
421.1
112.4
8 812
10 040
3 gi4
15 804
8 486
11 798
4 937
19 925
5
5
2
4
231
497
416
go4
4 237
6*807
2 900
5 767
9 048
12 366
3 548
13 929
61
.90
61
.90
1.42
1.42
7
10
2
18
554
983
951
333
128 5
9 952
8 478
2 178
17 090
9
10
4
16
886
433
564
946
8 774
11* 122
2 979
12 989
427.9
469.5
mil Ib
do
do
do
228 7
83 9
187.3
78 2
238 3
91 4
249 4
119 6
17
7
16
9
0
1
4
0
16 3
6 7
18 1
7 g
222 9
29.6
10.9
31
17 1
75
9.2
2.7
18 2
69
19 9
99
$ perlb..
do
do
1.215
.910
1.153
1.207
840
1.180
1.245
880
1.195
1.245
.880
1.195
1.245
.880
1.195
1.239
.880
1.195
93 4
93 4
93 1
92 9
61
.89
61
.89
61
.89
61
.89
61
.89
61
.89
1 42
1 43
1.43
1 42
1 42
1 42
18 8
27.6
15.9
10.8
16 9
70
23.7
14.0
14 2
7 7
12.3
71
61
.90
1 42
199.5
1, 374. 4
437 8
198.1
735.6
784.4
751. 1
169.3
470.7
181 9
501.5
467.3
121.1
130.1
12S.O
197.8
55 7
102.1
102.1
2
2
23 5
89
22.0
11 3
18 9
7 3
19 2
97
18
7
14
6
1.220
.858
1.195
1.220
.850
1.195
1.220
.850
1.195
1.220
850
1.195
1.220
.850
1.195
1.220
.850
1.195
1.220
.850
1.195
92 9
92 9
92 6
92 6
92 6
92 3
92 3
103. 0
103.0
103.0
102.1
*
170.6
2
2
6
7
5
2
19 5
98
7 5
4 2
14 8
1.218
850
1.175
1.210
.890
1.089
2
6.7
17.5
9.3
1.198
.890
1.075
67 1
68 3
102.1
13*097
887
636
533
227
249 2
56 8
51.6
1,410.9
436.5
476.7
3
18 863
285
878
335
857
263.2
1.41
101.1
3*017
9
11
2
15
248.0
223.6
679.4
1, 756. 7
inn Q
9 801
13* 132
215 6
48.7
2, 754. 4
101.7
445 6
234.0
600 2
1,195. 6
91 0
444.8
120.5
194.3
210.9
47.3
1, 391. 7
243 3
446.7
428.3
80.5
!58 2
5, 280. 4
1 829.4
771.7
92 6
1, 403. 8
195 8
189.1
68.8
54.5
4,265.5
1 620 4
754 0
8
324 2
1,999. 9
238 6
191.3
191.8
67.0
59.3
.61
.88
1 42
60.22
59.4
59.0
61
.85
1 42
61
88
59.60
1,378.6
1,363.7
203.4
218.9
198.7
20.0
22.0
90
2113
113
525
15.4
'Revised.
1 Season average.
por 5 weeks, other months, 4 weeks.
Beginning
Jan. 1969, the average omits two cloths previously included (Dec. 1968 margins comparable
with new data, 107.87 cents).
* For 8 months.
« Revised total; revisions not distributed
by months.
«Less than 500 bales.
7
Avg. for 5 months, Aug.-Dec.
«Avg. for 6 months, July-Dec.
IFor the period Sept. 1967-Feb. 1968,14 markets; beginning Mar. 1968,12 markets.
55
1
19.6
22.2
(6)
66
.81
1 52
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, American
system, wholesale price
1957-59—100
Wool broadwoven goods, "exc. 'felts':
Production (qtrly.)
mil lin yd
Price (wholesale), suiting, flannel" men's and
boys', f.o.b. mill
1957-59=100
2
80
93
278
1
55
19.2
22.5
276
1
21.6
22.7
8,278
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly. total
mil. Ib 3, 980. 6 5 134 5
Filament yarn (rayon and acetate)
do
734 7
805 2
Staple, incl. tow (rayon)
__
do
603 4
739 1
Noncellulosic, except textile glass:
Yarn and monofilaments.
do
1 213 9 1 649 5
Staple, incl. tow
do
1 119 8 1 538 0
Textile glass
fiber
do
402 7
308 8
Exports* Yarns and monofilaments
thous Ib 5 gg g3i 96 390
Staple tow and tops
do
78 293 108 253
Imports' Yarns and monofilaments
do
28 194 5 59 3Q3
j 149 g72 217 707
Staple tow and tops
do
Stocks, producers', end of period:
Filament yarn (rayon and acetate)
mil. lb._
59 4
51 7
Staple, incl. tow (rayon) _
do
43 8
59 0
Noncellulosic fiber, except textile glass:
Yam and monofllaments
do
194 3
138 7
Staple, incl. tow
do
142 4
210 9
Textile glass
fiber
do ..
47 3
40 4
Prices, manmade fibers, f.o.b. producing plant:
Staple* Polyester, 1.5 denier
$perlb
Yarn: Rayon (viscose), 150 denier ._
do...
Acrylic (spun), knitting, 2/20 3-6 D* do
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total 9
mil. lin. yd-Filament yarn (100%) fabrics 9 _ _
do
Chiefly rayon and/or acetate fabrics
do
Chiefly nylon fabrics
do ..
Spun yarn (100%) fab., exc. blanketing 9 -do
Rayon and/or acetate fabrics and blends
do
Polyester blends with cotton
do
Filament and spun yarn fabrics (combinations
and mixtures)
mil. lin. yd...
185
l
3,973
169
i 25. 4
124.8
102.1
102.1
in2. 1
*New series. Beginning Aug. 1966, mill margins refer to weighted averages of about 70 types o f
unfinished carded yarn cloths and to simple averages of 5 to 8 combed yarn cloths and of 3
polyester-cotton blends; no comparable data prior to Aug. 1966 are available.
Exports and
imports of cotton cloth (U.S. Dept. Agriculture) available beginning July 1959; spun yarn
price (BLS), beginning Jan. 1965.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
Annual
January 1970
1969
1968
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
20,306
Dec.
TEXTILE PRODUCTS—Continued
APPAREL
thous. doz. pairs
223,482
225,588
20,634
16,590
18,170
18, 514
20,316
18,360
18, 951
22,303
20,771
21,144
20,897
24,166
.. thous. units
do
19, 719
4,770
19, 621
4,141
1,607
1,306
1,900
1,781
1,912
1,174
1,752
313
' 1, 625
r
298
1,856
286
317
1,765
218
1,978
2,038
290
13 726
14 036
1 292
1 028
1 354
Coats (separate) , dress and sport
do
8138,571 « 158, 353 13 214 10 350 8 13, 367
Trousers (separate) , dress and sport
do
Shirts (woven fabrics), dress and sport
thous. doz.- 22,835 24,038 1,982 1,601 1,974
Work clothing:
7,464
632
Dungarees and waistband overalls...... do
6,945
691
628
4,042
3,310
287
228
Shirts
do
293
1 240
13,635
1 299
14 433
1,302
14,341
1,234
15,841
1,136
14, 472
855
13 023
1,182 '1,026
14,798 '14,040
1,419
14,288
1,989
1,957
1,886
1,953
1, 893
1,649
1,871 ' 1,990
2,261
588
315
675
290
612
295
674
297
709
285
789
247
1,708
23017
1 435
26 035
1,247
25 458
319
1,405
22,413
1,679
20 614
1,707
19 089
536
1 240
1 274
'739
1 178
1 188
Hosiery, shipments
Men's 'apparel, cuttings:
Tailored garments:
Suitst
_
Overcoats and topcoats
-
Women's, misses', juniors' outerwear, cuttings:
Coats..
-.
thous. units. . 22, 414 21, 370
279, 864 270, 257
Dresses
do
8,152
Suits
. do . 7,983
Blouses, waists, and shirts
Skirts
-
_
.thous. doz
do_ .
14,064
8,548
15,095
7,845
304
1,899
19 371
514
1 205
545
244
1,362
17 261
492
915
385
1,765
20,976
648
1 180
602
592
601
662
360
576
323
425
213
541
1 129
598
305
698
285
336
'800
'315
747
344
1,727 '1,804
20,068 '20, 391
496
'497
2,107
21,842
1 160
1,074
830
738
' 1,119
' 683
487
1 425
716
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly. total
mil. $..
U.S. Government
do
Prime contract
do
Sales (net), receipts, or billings, qtrly. total- -do
U.S. Government
do
Backlog of orders, end of period 9
do
U.S. Government
do
Aircraft (complete) and parts
do
Engines (aircraft) and parts
do
Missiles, space vehicle systems, engines, propulsion units, and parts...
mU. $..
Other related operations (conversions, modifications), products, services
_
mil. $..
Aircraft (com plete) :
Shipments ©
Airframe weight ©
Exports
26,900
18,538
24, 423
23,444
16,334
i 27,168
i 16,577
i 24,575
25, 592
16,635
6,044
3 479
5 207
6,793
4 499
6,450
4 370
5,566
6,047
3 941
4,404
2,462
3,756
6,333
4,284
30,936
17, 950
16, 401
4,252
130,749
1 16,343
U6,608
i 3,951
30,749
16 343
16 608
3,951
31,346
16 788
17,303
4,146
29,417
14,965
16,342
4,192
5,704
15,083
5 083
4,772
4,052
2,810
12,834
2 834
3 029
2,941
do
2 981.5 4 355 1
414 9
thous. lb.. 56, 739 76,202 6,859
mil. $
786.5 1 403 1 160 7
390 0
6,264
132 4
338 4
5,858
133 4
352 2
5,598
153 8
367 4
6,524
139 8
346 4
6,011 V
116 5
373 5
6,201
83 2
242 2
4,180
73 3
290 2
4,832
83 8
268 6
4,131
93 0
249.6
198.7
3,764 ' 4, 151
107.4
36 1
225 6
3,661
71 6
10,718.2 1,040.7
10 172 2
984 3
8 822 2
876 6
8 407 1 831 0
1 896 1 164.1
1 765 1 153 3
881.9
832 2
732 1
693 7
149 8
138 5
976.5
933 3
815 4
782 1
161.1
151 2
864.7
825 0
707 4
6f 7 4
157 3
147 7
932.3
878 4
763 3
721 7
169 0
156 7
876.8
825 8
714 3
677 3
162 5
148 5
861.1
806 2
720 2
678 5
140 8
127 8
940.9
891 1
777 1
741 1
163 8
150 0
617.1
589 2
465 2
447 3
152 0
141 9
473.7
447 2
346 4
329.8
127.3
117.4
907.3 1,048.5
851 2
995 7
856.8
751 6
815.6
707.4
191.7
155.7
180.1
143 8
855.2 2778.2
807 4
682 1 2 612 2
644 1
173 2 2 166 0
163 3
330 46
286 78
92.03
36.28
30 79
10.03
30 96
26*00
9 67
25 73
24 75
»5.72
23 56
20 77
6 59
34 64
29 46
10 97
28 50
24 10
11 82
33 24
30 20
9 83
27 09
24 84
10.24
16 95
14 95
7.92
10.92
9 48
7.97
35 13
31 39
7.45
34.47
28 30
8.89
32 84
27 92
7 48
1 020 62 31, 620.45
323 65 3500 88
75 07 a 114.65
154.81
55 77
13.95
164 36
51 67
11 99
106.32
50 21
12.84
121 48
48 23
8.23
137 47
46 65
13.12
182 77
51 72
12.96
185 26
63 89
14 61
185.53
68 52
12.65
160.15
40 99
8.63
120.38
26.58
9.70
148. 65
68 37
11.90
177.66
76.61
13.94
154.02
70 84
3.86
12 760 12 561
8 581
7 910
12 474
7 935
12,606
8 942
11, 370 ' 10, 782 '11,903 ' 12, 359
7,554 ' 8, 730 ' 8, 761
7 941
10, 871
7 771
2 195
1 530
1 754
MOTOR VEHICLES
Factory sales (from plants in U.S.), total
Domestic ..
Passenger cars, total .
Domestic
_- .
Trucks and buses, total
Domestic.. . _ _
thous.. 8,976.2
do
8 484 6
do . . 7 436.8
.do
7, 070. 2
.do
1, 539. 5
do
1 414.4
Exports:
Passenger cars (new), assembled .
To Canada*
Trucks and buses (new) , assembled
do
do
do
Imports:
Passenger cars (new) , complete units
From Canada, total*
Trucks and buses, complete units..
do
do
do
Shipments, truck trailers:
Complete trailers and chassis _
. number
Vans..
_ do
Trailer bodies and chassis (detachable), sold
separately _
number
Registrations (new vehicles): O
Passenger cars.
Foreign cars
Trucks (commercial cars)
thous
do
do
280 58
236 64
82 24
96 539
59 147
113,928
75 148
9,701
6,774
9 685
6 616
9,890
6,739
11,055
7 405
27 497
33 761
3,966
4 534
1,605
3 025
3 g 357 4 39 403 9
3 779 2 3 ggs g
3 i 5ig 4 31 775 6
3 079
°876 0 a ggg i a 841 9
a 98 3 a 107 9 o 91 7
a 174' 6 a 172 g a 160 9
2,368
2,827
ffl
' 3, 651 '3,532
3 731
a
757.0
84 2
140.3
4 977 3
4
97 6
4 185 5
657 6
63 4
133 2
a 124 5
681 2
58 1
144 0
56 262
38 991
17, 271
4,097
2,670
1,427
4 566
3 736
'830
4 452
3,823
5 205
4 439
5 312
4 516
53 703 3 63 561
38,468 349,391
14, 170
15 235
9,630
7,830
1,800
9 356
7,039
2 317
7 753
4,325
3 428
3 641
3,136
505
5 957
5,157
800
31,740
24,540
7,200
26, 939
21, 226
5,713
31 740
24 540
7 200
34 994
24 995
9 999
33 439
23 701
9 738
34 073
24 331
9 742
1,455
5 2
1 452
53
1 449
51
1 448
5 2
1 446
53
1,443
5 4
1,442
55
1,441
5.5
1,440
55
1,440
55
93.88
64.54
93.91
64.68
93.94
64.82
93.96
64.87
94.01
65.02
93.96
65.11
93.98
65.19
94.15
65.35
94.22
65.45
94.38
65.23
°607 5
a 53 4
a
815 3 «718 8
a 90 2 a 95 6
169 6 a!53 8
«733 4
955. 6 °757 5
095 i a H2 6 a 93 6
"149 1 * 174. 4 °146 8
RAILROAD EQUIPMENT
Freight cars (ARCI):
Shipments
_.
Equipment manufacturers, total
Railroad shops, domestic
number
. do
do
New orders
Equipment manufacturers, total
Railroad shops, domestic
do
-do
do
Unfilled orders, end of period
Equipment manufacturers, total
Railroad shops, domestic
do
do
do
83 095
64 775
18, 320
24 917
14 276
10 641
629
Freight cars (revenue), class 1 railroads (AAR):§
Number owned, end of period
thous..
1,482
1,458
1,461
1,458
1,456
Held for repairs, % of total owned
5.2
51
52
52
52
Capacity (carrying), aggregate, end of period
mil. tons-. 93.15
93.82
93.84
93.82
93.91
Average per car
tons
62.85
64.34
64.23
64.34
64.50
' Revised, i Beginning 1st quarter 1968, value of new orders and backlog refers to orders
on a funded order basis for Government contracts and on binding legal documents (or equivalent) for commercial business.
2 preliminary estimate of production.
3 Annual total includes revisions not distributed by months.
* Includes delayed registrations for seven
States.
«Beginning Jan. 1969, data exclude vehicles on runners and skis.
• Data for
1967-68 are understated by from 3 to 5 percent and are not strictly comparable with figures
beginning 1969. « Omits data for 1 State.
" Preliminary; refers to domestic business
766
796
6 571 "5 826
5*353 i>4 667
1,218
1,159
"5 445
p3 888
1,557
"4 861
v 3, 770
1,091
19 721 "6 263 "7 968 "5 747
19,329 "6,203 "6,683 "3,047
392
60
1 285 2,700
"5 482
"4 032
1,450
"6,881 " 6, 972 "6 273
" 4, 879 " 5, 181 "4 941
1,791
2,002
1,332
"2 679 " 4 504 "3 782
"2,284 "4,021 "3,148
483
634
395
"8 264
"3,456
4 808
47 208 '47 445 "50 395 "51, 233 "47,915 "45,133 "42,043 "43460
38 292 "39 628 p42 850 "42, 079 "39,816 "38,853 "36,920 "35361
9,154
5,123
6,280
8,099
8 099
8 916
7 545
7 817
9 Total includes backlog for nonrelated products and services and basic research.
® Data include military-tvpe planes shipped to foreign governments.
'New series;
source, Bureau of the Census. Beginning in the July 1969 SURVEY, imports are restated to
include duty-paid cars from Canada.
O Courtesy of R. L. Polk & Co.; republication
prohibited.
§Excludes railroad-owned private refrigerator cars and private line cars.
tRevised series. Revisions for 1968 appear in Dec. 1969 SURVEY.
INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40
Earnings, weekly and hourly
Eating and drinking places
Eggs and poultry
Electric power
Electrical machinery and equipment
SECTIONS
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade
1-7
7-9
9,10
10-12
,
Labor force, employment, and earnings.......
Finance
Foreign trade of the United States
»
Transportation and communications
12-16
16-21
21-23
23,24
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products
24,25
25,26
26—30
30
Lumber and products
Metals and manufactures
Petroleum, coal, and products.
Pulp, paper, and paper products
31
31-34
34,36
36,37
Rubber and rubber products
Stone, clay, and glass products
Textile products..
Transportation equipment
37
38
38-40
40
INDIVIDUAL SERIES
Advertising
10,11,16
Aerospace vehicles
40
Agricultural loans.
16
Air carrier operations
23
Aircraft and parts
4,6,7,40
Alcohol, denatured and ethyl
25
Alcoholic beverages
..
11,26
Aluminum.
33
Apparel
1,3,4,8,9,11-15,40
Asphalt and tar products
35,36
Automobiles, etc
1,3-9,11,12,19,22,23,40
Balance of international payments
2,3
Banking
16,17
Barley
27
Battery shipments
34
Beef and veal
28
Beverages
4,8,11,22,23.26
Blast furnaces, steel works, etc
5-7
Bonds, outstanding, issued, prices, sales, yields.... 18-20
Brass and bronze
33
Brick
38
Broker's balances
20
Building and construction materials
7-8,
10,31,36,38
Building costs
10
Building permits
10
Business incorporations (new), failures.
7
Business sales and inventories
5
Butter
26
Cattle and calves
28
Cement and concrete products
9,10,38
Cereal and bakery products
8
Chain-store sales, firms with 11 or more stores...
12
Cheese
26
Chemicals
4-6,8,13-15,19,22-25
Cigarettes and cigars
30
Clay products
9,38
Coal
4,8,22,34,35
Cocoa
23,29
Coffee
23,29
Coke
35
Communication
2,19,24
Confectionery, sales.
29
Construction:
Contracts
9
Costs
10
Employment, unemployment, hours, earnings.. 13-15
Fixed investment, structures
1
Highways and roads
9,10
Housing starts
10
New construction put in place
9
Consumer credit..
17,18
Consumer expenditures
1
Consumer goods output, index
3,4
Consumer price index
7,8
Copper
33
Corn
27
Cost of living (see Consumer price index)
7,8
Cotton, raw and manufactures
7,9,22,38,39
Cottonseed cake and meal and oil.
30
Credit, short- and intermediate-term
17,18
Crops
3,7,27,28,30,38
Crude oil and natural gas
4,35
Currency in circulation
19
Dairy products
Debits, bank
Debt, U.S Government
Department stores
Deposits, bank
Disputes, industrial
Distilled spirits
Dividend payments, rates, and yields
Drug stores, sales
3,7,8,26,27
16
18
11,12
16,17,19
16
26
2,3,18-21
11,12
14,15
11,12
3,7,28,29
4,8,25,26
4-8,
13-15,19,22,23,34
Employment estimates.
12-15
Employment Service activities
16
Expenditures, U.S. Government
18
Explosives
25
Exports (see also individual commodities).... 1,2,21-23
Express operations
23
Failures, industrial and commercial
7
Farm income, marketings, and prices
2,3,7,8
Farm wages
15
Fats and oils
8,22,23,29,30
Federal Government
finance
18
Federal Reserve banks, condition of
16
Federal Reserve member banks
17
Fertilizers
8,25
Fire losses
10
Fish oils and
fish.
29
Flooring, hardwood
31
Flour, wheat
28,29
Food products.
1,4-8,11-15,19,22,23,26-30
Foreclosures, real estate
10
Foreign trade (see also individual commod.)..... 21-23
Foundry equipment
34
Freight cars (equipment)
4,40
Fruits and vegetables
7,8
Fuel oil.
35,36
Fuels.
4,8,22,23,34-36
Furnaces
34
Furniture
4,8,11-15
Gas, output, prices, sales, revenues.
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gross national product
Gross private domestic investment
Gypsum and products
4,8,26
1,35
38
25
19
7,8,22,27,28
11,12
1
1
9,38
Hardware stores
11
Heating equipment
9,34
Hides and skins
8,30
Highways and roads
9,10
Hogs...
28
Home electronic equipment
8
Home Loan banks, outstanding advances........
10
Home mortgages
10
Hosiery
40
Hotels
24
Hours of work per week
14
Housefurnisyngs
1,4,8,11,12
Household appliances, radios, and television sets.
4,
8,11,34
Housing starts and permits
10
Imports (see also individual commodities)
1,22,23
Income, personal
2,3
Income and employment tax receipts
18
Industrial production indexes:
By industry
3,4
By market grouping
3,4
Installment credit
12,17,18
Instruments and related products
4-6,13-15
Insurance, life
18,19
Interest and money rates
17
Inventories, manufacturers* and trade
5,6,11,12
Inventory-sales ratios
5
Iron and steel
4,5-7,9,10,19,22,23,31,32
Labor advertising index, strikes, turnover.
16
Labor force
. 12,13
Lamb and mutton
28
Lard
28
33
Lead.
Leather and products
4,8,13-15,30
Life insurance
18,19
Linseed oil
30
Livestock
3, 7,8,28
Loans, real estate, agricultural, bank, brokers*
(see also Consumer credit)
10,16,17,18,20
Lubricants
35,36
Lumber and products
4,8,10-15,19,31
Machine
tools
34
Machinery
4,5-8,13-15,19,22,23,34
Mail order houses, sales
11
Man-hours, aggregate, and indexes
14
Manmade fibers and manufactures
9,39
Manufacturers' sales (or shipments), inventories,
orders
4-7
Manufacturing employment, unemployment, production workers, hours, man-hours, earnings. . . 13-15
Manufacturing production indexes
3,4
Margarine
29
Meat animals and meats
3,7,8,22,23,28
Medical and personal care
7
Metals
4-7,9,19,22,23,31-33
Milk
27
Mining and minerals
2-4,9,13-15,19
Monetary statistics
19
Money supply
19
Mortgage applications, loans, rates
10,16,17,18
Motor carriers.
23,24
Motor vehicles
1,4-7,9,11,19,22,23,40
Motors and generators
34
National defense expenditures
1,18
National income and product
1,2
National parks, visits.
24
Newsprint
23,37
New York Stock Exchange, selected data
20,21
NonferrouB metals
4,9,19,22,23,33
Noninstallment credit
17
Oats
27
Oil burners
34
Oils and fats
8,22,23,29,30
Orders, new and unfilled, manufactures*
6,7
Ordnance
13-15
Paint and paint materials
Paper and products and pulp
8,25
4-6,
9,13-15,19,23,36,37
Parity ratio
7
Passports issued.
24
Personal consumption expenditures
1
Personal income
2,3
Personal outlays.
2
Petroleum and products
4-6,
8,11,13-15,19,22,23,35,36
Pig iron
,
32
Plant and equipment expenditures
2,20
Plastics and resin materials
25
Population
12
Pork
28
Poultry and eggs
3,7,28,29
Prices (see also individual commodities)
7-9
Printing and publishing
4,13-15
Profits, corporate.
2,19
Public utilities
2-4,8,9,13,19-21
Pullman Company
24
Pulp and pulpwood
36
Purchasing power of the dollar
9
Radiators and convectors
34
Radio and television
4,10,11,34
Railroads
2,15,16,19,20,21,24,40
Railways (local) and bus lines
23
Rayon and acetate
39
Real estate
10,17,18
Receipts, U.S. Government
18
Recreation
8
Refrigerators and home freezers
34
Rent (housing).
7
Retail trade
5,8,11-15,17,18
Rice
27
Roofing and siding, asphalt
36
Rubber and products (incl. plastics)
4-6,
9,13-15, 23,37
Saving, personal
Savings deposits
Securities issued.
Security markets
Services
Sheep and Iambs.
Shoes and other footwear
Silver
Soybean cake and meal and oil
Spindle activity, cotton
Steel (raw) and steel manufactures
Steel scrap
Stock prices, earnings, sales, etc
Stone, clay, glass products
Stoves and ranges
Sugar
Sulfur
Sulfuric acid
Superphosphate
2
17
19,20
20,21
1,7,13
28
8,11,12,30
19
30
39
31,32
31
20,21
4-6,8,13-15,19,38
34
23,29
25
24
25
Tea imports
29
Telephone and telegraph carriers
24
Television and radio
4,10,11,34
Textiles and products.... 4-6,8,13-15,19,22,23,38-40
Tin
33
Tires and inner tubes
9,11,12,37
Tobacco and manufactures
4-6,9,11,13-15,30
Tractors
34
Trade (retail and wholesale)
5,11,12
Transit lines, local
23
Transportation..
1,2,8,13,23,24
Transportation equipment
4-7,13-15,19,40
Travel
23,24
Truck trailers
40
Trucks (industrial and other)
34,40
Unemployment and insurance
U.S. Government bonds
U.S. Government
Utilities
Vacuum cleaners
Variety stores
Vegetable ofls
Vegetables and fruits.
Veterans* benefits
Wages and salaries.
Washers and driers
Water heaters
Wheat and wheat flour
Wholesale price indexes
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc.
12,13,16
16-17,20
finance
18
2-4,9,13,19-21,25,26
34
11,12
29,30
7,8
16,18
2,3, 14,15
34
34
28
8,9
5,7,11 13-15
36
9,39
33
UNITED STATES
GOVERNMENT PRINTING OFFICE
D I V I S I O N OF
PUBLIC
DOCUMENTS
WASHINGTON, D.C. 20402
OFFICIAL BUSINESS
ANNOUNCING
DICTIONARY OF ECONOMIC AND STATISTICAL TERMS
CI.2:
Ec7/7
This Dictionary of Economic and Statistical Terms was prepared as an aid to understanding and using the
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It is designed to serve both as a convenient reference for those who are already familiar with the concepts
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could be done without sacrificing accuracy.
The Dictionary is divided into four parts:
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Part
I: The National Income and
Product Accounts
II: The Balance of Payments
Accounts
Part III: Economic and Statistical
Indicators used in Business
Conditions Digest
Part IV: Economic and Statistical Terms
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