Full text of Survey of Current Business : January 1976 Part I
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
JANUARY 1976 / VOLUME 56 NUMBER
Part I
SURVEY OF CURRENT BUSINESS
CONTENTS
THE NATIONAL INCOME AND PRODUCT ACCOUNTS OF
THE UNITED STATES: REVISED ESTIMATES, 1929-74
1
National Income and Product Tables
39
List of Detailed Tables
46
U.S. Department of Commerce
Rogers C. B. Morton / Secretary
James L. Pate / Assistant Secretary
for Economic Affairs
Bureau of Economic Analysis
George Jaszi / Director
Morris R« Goldman / Deputy Director
SURVEY OF CURRENT BUSINESS
Editorial Board: Jack J. Bame, Carol S. Carson,
John E. Cremeans, Martin L. Marimont, Beatrice
N. Vaccara, Charles A. Waite, Allan H. Young
Editor: Dannelet A. Grosvenor
Statistics Editor: Leo V. Barry, Jr.
Graphics Editor: Billy Jo Hurley
CURRENT BUSINESS STATISTICS
General
S1-S24
Industry
S24-S40
Subject Index {Inside Back Cover)
Annual subscription, including weekly statistical supplement: $48,30 domestic, $60,40 foreign. Single copy $3.00,
Order from Superintendent of Documents, U.S. Government
Printing Office, Washington, D.C. 20402, or any Commerce
District Office. Make check payable to Superintendent of
Documents.
Animal subscription in microfiche, excluding weekly
supplement: $30 domestic, $38 foreign. Single copy $2.25.
Order from National Technical Information Service, Springfield, Va. 22151.
Address change; Send to Superintendent of Documents
or NTIS, with copy of mailing label. For exchange or official
subscriptions, send to BEA.
Editorial correspondence: Send to Bureau of Economic
Analysis, U.S. Department of Commerce, Washington, D.C.
20230.
The Secretary of Commerce has determined that the publication of this periodical is necessary in the transaction of the public business required by law of this Department, Use of funds for
printing this periodical has been approved by the Director of the Office of Management and Budget through September 1, i960.
U.S. DEPARTMENT OF COMMERCE DISTRICT OFFICES
Albuquerque, N. Mex.
87101
316 U.S. Courthouse 766-2386.
Cheyenne, Wyo. 82001
2120 Capitol Ave. 778-2220.
Greensboro, N.C. 27402
203 Federal Bldg. 275-9111.
Milwaukee, Wis. 53202
517 E. Wisconsin Ave. 224-3473.
Anchorage, Alaska 99501
632 Sixth Ave. 265-5307.
Chicago, 111. 60603
Room 1406 Mid-Continental Plaza
Bldg. 353-4450.
Hartford, Conn. 06103
450 Main St. 244-3530.
Minneapolis, Minn. 554O1
306 Federal Bldg. 725-2133.
Cincinnati, Ohio 45202
550 Main St. 684-2944.
Honolulu, Hawaii 96813
286 Alexander Young Bldg.
546-8694.
Newark, N.J. O7102
4th Floor Gateway Bldg.
645-6214.
Cleveland, Ohio
44114
666 Euclid Ave. 522-3131.
Houston, Tex. 77002
1017 Old Federal Bldg. 226-4231.
New Orleans, La. 70130
432 International Trade Mart.
589-6546.
Columbia, S.C. 29204
2611 Forest Dr, 765-5345.
Indianapolis, Ind. 46204
46 East Ohio St. 269-6214.
Dallas, Tex. 75202
1100 Commerce St. 749-1515.
Kansas City, Mo. 64106
601 East 12th St. 374-3142.
Omaha, Nehr. 68102
1620 Dodge St.
Denver, Colo. 80202
19th & Stout Sta. 837-3246.
Log Angeles, Calif. 90024
11000 Wilshire Blvd. 824-7591.
Philadelphia, Fa. 191O6
600 Arch St. 597-2850.
Buffalo, N.Y. 142O2
111 W. Huron St. 842-3208,
Des Moines, Iowa 5O309
609 Federal Bldg. 284-4222.
Memphis, Tenn. 38103
147 Jefferson Ave. 534-3213.
Phoenix, Ariz. 85O04
112 N. Central 261-3285.
Savannah, Ga. 314O2
235 U.S. Courthouse and P.O.
Bldg. 232-4321.
Charleston, W. Va. 25301
500 Quarrier St. 343-6181.
Detroit, Mich. 48226
445 Federal Bldg., 226-3650. .t
Miami, Fla. 33130
25 West Flagler'St. 350-5267.
Pittsburgh, Pa. 15222
1000 Liberty Ave. 644-2850.
Seattle, Wash. 981O9
706 Lake Union Bldg. 442-5615.
Atlanta, Ca. 30309
1365 Peaehtree St. NE. 526-2470.
Baltimore, Md. 21202
415 U.S. Customhouse 962-3560.
Birmingham, Ala. 35205
908 S. 20th St. 254-1331.
Boston, Mass. O2116
441 Stuart St, 223-2312.
New York, N.Y. 10007
26 Federal Plaza 264-0634,
Portland, Oreg. 97205
921 5.W. Washington St.
221-3001.
Reno, Nev. 89502
300 Booth St. 784-5203.
Richmond, Va. 2324O
8010 Federal Bldg. 782-2246.
St. Louis, Mo. 63105
120 S. Central Ave. 425-3302-4.
Salt Lake City, Utah. 84139
125 South State St. 524-5116.' ,
San Francisco, Calif. 941O2
450 Golden Gate Ave. 556-5860.
San Juan, Puerto Rico 00902
100 P.O. Bldg. 723-4640.
The National Income and Product Accounts of the United States:
Revised Estimates, 1929-74
CONTENTS
Major features of the revisions. . .
Page
2
DEFINITIONAL AND CLASSIFICATIONAL REVISIONS
3
Plan of the discussion
3
22
Government purchases
22
NEW TABLES AND SERIES
22
16
REVISED ESTIMATES: POSTWAR
ECONOMIC HIGHLIGHTS
24
16
Plan of the discussion
24
7
Components of GNP
11
15
PCE
16
Nonresidential fixed investment
18
Residential investment
19
CBI
19
Net exports
19
Government purchases
20
Charges against GNP
21
Fixed investment
Government transactions. .
Plan of the discussion.
CONSTANT-DOLLAR ESTIMATES
21
22
3
STATISTICAL REVISIONS...
Capital consumption allowances
PCE
Capital formation and consumption
Other
Pago
21
Net interest.
20
Trends
'.'.;'".
25
Cycles
26
Production
27
PCE
27
Fixed i n v e s t m e n t . . . . . . . . . . .
2£
CBI
29
Incomes from production
30
Gross corporate product
Compensation of employees. .
20
Proprietors' income
20
Personal income,
saving
Rental income of persons....
20
Saving and investment
Corporate profits
20
outlays,
32
and
DEFINITIONS OF NIPA ENTRIES..
32
33
34
_L HIS report presents key information from a comprehensive revision of
the national income and product accounts (NIPA's) of the United States.
Full detail will be presented later.
The revision incorporates new source
data and estimating procedures as well
as changes in definitions and classifications. Most of the revisions are for
the years since 1958. Estimates for
earlier years were reworked w^hen necessary to provide continuous time series.
The postwar growth trend of the
revised GNP is about the same as that
of the previously published one. Newly
developed measures of real production—net national product and national
income—show virtually the same
growth trend.
The pattern of short-term fluctuations in the revised GNP is also similar
to that shown previously. However, as
is to be expected, there are some differences. The amplitude of postwar business cycles is somewhat smaller. For
the recent recession not only is the
decline from the peak in the fourth
quarter of 1973 to the trough in the
first quarter of 1975 less severe, but it
is also smoother.
Revisions in the components of the
national income and product (NIP)
ACKNOWLEDGMENTS
To Allan H. Young, Chief of the National Income and Wealth Division, goes the major credit for planning and carrying through this
benchmark revision of the national income and product accounts of the United States. Second in command of this formidable undertaking
was John A. Gorman, Associate Chief of the National Income and Wealth Division until his recent change of assignment. Charles A. Waite
Chief of the Government Division, directed a major part of the work. Martin L. Marimont, Associate Director for National Economic
Accounts, provided guidance.
George Jaszi and Carol S. Carson wrote the accompanying article explaining the conceptual and methodological aspects of the benchmark revision, and the light it throws on U.S. economic developments.
The detailed statistical work of building up the revised estimates was done in the National Income and Wealth and the Government
Divisions. Robert P. Parker, Assistant Chief of the National Income and Wealth Division, and Joseph C. Wakefield, Assistant Chief of
the Government Division, supervised major segments of this work.
BEA staff that made significant contributions to the revision is listed on page 2.
SURVEY OF CURRENT BUSINESS
flows are, of course, larger than those
in the measures of total production.
Among the important ones are revisions
in the compensation of employees and
in corporate profits. The level of the
former is raised substantially in the last
decade, and its increase in 1973 and
1974 is much larger. Corporate profits,
which showed a sharp decline in relation to employee compensation over the
last decade even before the revisions,
now show an even sharper decline since
1972. The corporate share of production
is raised substantially since 1958, reflecting a revised allocation among the
forms of business. Another important
revision is in the measurement of
saving. Portions of what had appeared
in the previously published estimates
as net saving, that is, saving after
allowances for the consumption of fixed
capital, are now such allowances. Undistributed corporate profits and personal saving are reduced, and capital
consumption allowances is increased.
Thus, the revised estimates suggest a
considerably different view of investment and its ultimate finance.
Major features of the revision
This is the sixth in a line of comprehensive revisions of the NIP estimates
iji the postwar period. The first of
these was published in the 1947 National
Income Supplement. Its most important
aspect was the introduction of a
disciplined
accounting framework
for presenting the NIP estimates. The
next, published in National Income,
1951 Edition, provided the first detailed
tables in the new accounting framework, the first detailed description of
this framework, and the first detailed
description of the methodology (data
sources and estimating methods) underlying the estimates. The third, published in National Income, 1954 Edition,
was mainly statistical. The revision
published in U.S. Income and Output
(1958) streamlined the accounting
framework, and provided quarterly
estimates of real GNP and of other
new information useful in the analysis
of economic developments. The last
revision appeared in the August 1965
SURVEY OF CURRENT BUSINESS (with
more detail in a subsequent publication
titled The National Income and Product
Accounts of the United States, 19291965); it was mainly statistical, even
though some further definitional and
classificational revisions were introduced.
The major features of the current
revision are enumerated below.
1. The revision includes the updating
for the preceding 3 years that is usually
published in the July SURVEY. Preliminary annual source data are replaced
by final data that become available
after the initial estimates are made.
Examples of such data are the income
statistics of the Internal Revenue
Service (IRS) and the payroll statistics
that are a byproduct of the adminis-
Personal consumption expenditures—JAMES C. BYRNES.
Goods—Leo M. Bernstein, Moses J. Branch, Thomas B. Petska.
Services—Anne L. Probst, Ellen B. Arroyo.
Investment—GERALD F. DONAHOE. Fixed investment—
Stephen P. Baldwin, Ann H. Cravens, Larry R. Moran, Teresa L.
Weadock. Inventories—John C. Hinrichs, Anthony D. Eckman,
Mary K. Osinalde.
Personal income—MARY W. HOOK. Wages and salaries—
Pauline M. Cypert, F. Beatrice Coleman. Other labor income—
Chester F. Michewicz. Rental income of persons—Frank A. Szumilo.
Interest—Jeanette M. Honsa. Employment and hours—Robert T.
Clucas. Other contributors to the personal income estimates were
Ross H. Arnett, Beulah B. Davis, Bonnie S. Lawrence, Imogene C.
Petersen, Mary V. Pitts, and Mark S. Rees.
Business income—JACQUELIN BAUMAN, Willie J. Abney,
Dorothy G. Collins, V. May Hargreaves, David E. Henderson,
Robert M. Lipovsky, Kenneth A. Petrick, Jerry L. Stone, Conrad M. Terry.
Farm output—SHELBY A. HERMAN.
Part I January 1976
tration of the State unemployment
insurance (UI) programs. The revision
of the estimates for 1973 and 1974,
which normally would have been published in July 1975, but was postponed
and incorporated in this report, was
unusually troublesome. Because of the
high rate of inflation and other economic turbulence, the Federal statistical
reporting system and the standard
estimating methods became less adequate as a basis for the NIP estimates.
As a result, there were unusually
large—although partly offsetting—
errors in the preliminary estimates
of the components of the income and
product flows.
2. The revision incorporates the
"benchmarking" of the NIP estimates
to the following censuses: the 1963 and
1967 economic censuses (the censuses
of manufactures and of business),
the 1969 Census of Agriculture, the
1970 Censuses of Population and Housing, the 1967 and 1972 Censuses of
Governments, and, to a limited extent,
the 1972 economic censuses. The incorporation of two economic censuses,
instead of the usual one, contributes
to the magnitude of the revision.
3. Numerous definitional and classificational improvements are introduced.
The most important one is an "economic" measure of capital consumption, which permits the estimation of
net national product and net capital
formation and of improved measures
Price indexes and capital consumption adjustment—JOHN C.
MUSGRAVE, Gerald Silverstein.
Federal Government transactions—JOSEPH C. WAKEFIELD.
National defense—Walter H. Bennett, Robert J. Shue. Transfer
payments and supplements—David T. Dobbs, Robert A. Boyd.
Nondefense—Sarah A. Hulsey, Stephen C. Lehman, Robert S.
Luke, Steven M. Nunes, Deloris T. Tolson. Constant-dollar estimates—John N. Wells, Hermione A. Anglin.
State and local government transactions—DAVID J. LEVIN.
Expenditures—Paul Schneiderman, Barbara G. Hobson. Receipts—
Donald L. Peters.
Computer services—Norman E. Bakka, Alexie M. Malcolm,
Lou L. Pal.
Secretarial—Eunice V. Blue, Linda M. Brown, Lula M. Thompson, June P. Trammell, Evelyn Waltz, Teresa A. Williams, Dorothy
A. Wilson.
Layout and Graphics—BILLY JO HURLEY, Sybella G'Schwend,
Judith A. Hefford, Charles Wr. Robinson.
Part I January 1976
of profit-type incomes. The other definitional and classificational changes
eliminate minor inconsistencies in the
NIPA's.
4. The statistical improvements are
also numerous. The reworking of the
estimates of the vehicles (autos and
trucks) components of GNP may be
singled out, because revisions in them
contribute to the improved view of
capital formation that is provided by
the definitional and classificational revisions. New source data are incorporated into the estimating methodology for inventories; however, in this
case, more than in most others, it is
obvious that much further work needs
to be done.
5. A 1972 valuation period for the
cons tant-dollar estimates is substituted
for a 1958 valuation period. Several
new constant-dollar aggregates—notably net national product and national
income—are introduced. Several component constant-dollar series are significantly improved. Two of these relate
to capital formation: construction activity and purchases of producers'
durable equipment (PDE). A third
provides better measures of production
attributable to government.
DEFINITIONAL AND
CLASSIFICATIONAL REVISIONS
The distinction between definitional
and classificational revisions, on the
one hand, and statistical revisions, on
the other, is not clearcut in all cases.
It has been suggested that definitional
and classificational revisions are those
that have no effect on the statistical
discrepancy in the NIP account, and
that statistical revisions are those that
do have an effect. This distinction is
based on the assumption that the
two sides of the NIP account are estimated independently from each other.
The distinction breaks down in instances in which this is not the case.
It breaks down also if, because of built-in
features of the methodology, an error
in the estimate of one component is
automatically offset by an equal error
in another on the same side of the
account.
SUEVEY OF CURRENT BUSINESS
Nevertheless, the distinction is indispensable for the proper interpretation of the revisions. Suppose, for
instance, that the GNP were changed,
on the one hand, because an imputation
for the value of housewives' services
were made, and, on the other, because
revised information on retail sales
indicated that the personal consumption expenditures (PCE) component
of GNP had been understated. The
users of GNP estimates would want to
distinguish between the two cases,
and would find it appropriate to label
the former a definitional revision and
the latter a statistical one. This is so
because the distinction would flag
that in the former case they had not
been misinformed about changes in
the economy as it had been defined.
Rather, they were being informed of a
change in the definition of the economy.
In technical terms, they were being
informed that the boundary of production had been redrawn to include the
services of housewives. The proper
interpretation of the revision of PCE
would be the exact opposite. The
distinction helps in diagnosis in other
ways also. For example, labeling the
PCE revision as statistical indicates
that an improvement in the primary
data would be desirable.
Adding the term "classificational"
to the label of the nonstatistical category is also useful. It recognizes an
inevitable feature of the practical
application of definitions: It is often
not clear whether particular items fit
into one definitional category or into
another, and, accordingly, an item
may have to be moved from one
category to another in the light of
considerations that were not apparent
when the initial classification was
made.
Plan of the discussion.—The definitional and classificational revisions
are discussed in three groups immediately below: capital formation
and consumption, government transactions, and "other." The statistical
revisions are discussed in the next
section.
The explanation of the definitional
and classificational revisions uses as
a framework the structure of the
NIPA's as summarized in table A.
The 1974 magnitudes of the definitional
and classificational revisions are shown
in table B. The definitions underlying
the summary NIPA's are given in
Definitions oj NIPA Entries at the end
of this article.
Capital formation and consumption
1. Estimates of "economic" capital
consumption allowances are introduced.
These are valued at replacement cost,
that is, in current prices, and measured
consistently with respect to the service
lives of assets and the depreciation
formula. 1 In the previously published
estimates, capital consumption allowances included primarily depreciation
as tabulated by the IRS from tax returns filed by businesses. The major
exceptions were depreciation for the
farm sector, for housing that is owned
either by owner-occupants or by landlords who file individual income tax
returns rather than business returns,
and for capital owned by nonprofit institutions. Tax return depreciation has
serious shortcomings for most types of
economic analysis. The two major shortcomings are: (1) Tax return depreciation is based on asset service lives and
depreciation formulas that may not reflect the using up of fixed capital. This
defect is particularly serious if, as has
been the case in the United States,
major legislative or administrative
changes are made in the regulations
governing service lives and depreciation formulas. In the postwar period,
such changes have resulted in more
rapid writeoffs of asset values, which,
by and large, do not reflect actual
changes in the rate at which assets are
used up. (2) Tax return depreciation is
valued in terms of the historical costs
of assets. Accordingly, it reflects a mixture of prices of the various years in
which assets were acquired.
However, for some purposes—for
example, in studies of the effects of
tax policies—a tax return-based meas1. For a more detailed discussion, see Allan H. Young,
"New Estimates of Capital Consumption Allowances in the
Benchmark Revision of GNP," SURVEY OF CURRENT
BUSINESS, October 1975.
SURVEY OF CURRENT BUSINESS
Part I January 1976
Table A.-—Summary National Income and Product Accounts, 1974l
1.—National Income and Product Account
[Billions of dollars]
Amount of revision
Item
1
2
3
4
5
6
7
8
9
10
11
12
13
U
15
16
17
18
19
20
21
22
23
24
25
Previously
published
Revised
Statistical
Compensation of employees. _ _ 855.8
873.0 15.4
750. 7
763. 1 10. 8
Wages and salaries
751. 2
Disbursements (2-7)
763. 6 10.8
Wage accruals less disbursements (3-ll) + (5-4)___
-. 5
-. 5
Supplements to wages and
4. 6
105. 1
110. 0
salaries
Employer contributions for
.4
55. 5
53. 6
social insurance (3-19) _ _
4.2
54. 5
51.4
Other labor income (2-8) _
Proprietors' income with inventory valuation and capital consumption adjustm p n f « f9 Q^
93. 0
85. 1 -9.2
Rental income of persons
with capital consumption
6. 7
21.0
26. 5
adjustment (2-10)
Corporate profits with inventory valuation and capital
105. 6
91.3 -9.8
consumption adjustments
132. 1 -6.4
140. 7
Profits before tax
52. 6 -3.8
55. 7
Profits tax liability (3-16)_
85. 0
79. 5 -2. 5
Profits after tax
T^iiri/^Qn/-lc. f O ~\ ~\\
32. 7
31. 1
-Dividends (Z— ii;
.9
Undistributed profits
48.4 -3. 5
52.4
(5-6)
Inventory valuation adjust-35. 1 -38. 5 -3.5
ment (5-7)
Capital consumption ad-2.3
justment (5-8)
3.4
70.7
61. 6
Net interest (2-13)
_ __
6.5
1,142.5 1,141.1
NATIONAL I N C O M E _ _ _ _
Business transfer payments
5.2
(2-18)
.6
5.8
Indirect business tax and non127.3 -. 9
126.9
tax liability (3-17)
Less: Subsidies less current
surplus of government en1. 1
-2.9
.7
terprises (3-10) _
.4
-. 6 -1. 1
Statistical discrepancy (5-12)__
CHARGES AGAINST NET
3.9
NATIONAL PRODUCT ___ 1, 278. 0 1, 272. 9
Capital consumption allowances with capital con134. 0 -1. 6
sumption adjustment (5-9) __ 119. 5
CHARGES
AGAINST
GROSS NATIONAL PRODUCT
2.3
1, 397. 4 1, 406. 9
Amount of revision
Definitional and
classificational
1.9
1.6
1. 6
.3
1. 5
-1.2
1. 3
-12. 3
-4. 5
-2. 2
.7
-3. 0
-2. 5
-. 5
Item
Previously
published
Personal consumption expenditures (2—3)
27
Durable goods28
Nondurable goods
29
Services
30 Gross private domestic investment (5-1)
31
Fixed investment
32
Nonresidential
33
Structures
34
Producers' d u r a b l e
equipment
35
Residential
36
Change in business inventories
37 Net exports of goods and
services
38
Exports (4-1)
39
Imports (4-3)
40 Government purchases of
goods and services (3-1) _
41
Federal
42
National defense
43
Nondefense
44
State and local
Revised
Definiand
Statis- tional
tical classificational
26
876. 7
127. 5
380.2
369. 0
8. 6
885.9
121.9 -. 7
375. 7 -4. 6
388. 3 13.9
0.5
-4.9
.0
5.4
209.4
195.2
149. 2
52. 0
212. 2 -2.3
202. 5
2. 2
147.9 -1. 7
54.4
1. 7
5. 1
5. 1
.5
.6
97. 1
46.0
93. 5 -3. 5
4.0
54.6
-. 2
4.6
14. 2
9. 7 -4. 5
2. 1
140. 2
138. 1
7. 7
144. 2
136. 5
1.4
3.9
2. 5
4.2
.1
-4. 1
309. 2
116.9
78. 7
38.2
192. 3
301. 1 -5. 4
111.7
77.4 — ! i^
.0
34.3
189. 4 -5.4
-2.7
-5. 1
-1.2
-3. 9
2.4
-2.3
5. 7
-7.8
1.3
2. 4
-9.0
16. 2
GROSS NATIONAL PROD1,397.4 1,406.9
UCT
7.2
2.3
7.2
763. 6
54. 5
10. 8
4. 2
1. 6
-1.2
rvo
yo. nU
or -i
oO. 1
9 . 9£i
1 Q
26. 5
21.0
-12. 3
—2 5
— 3
5. 7
2.—Personal Income and Outlay Account
1
2
3
4
5
6
Personal tax and nontax
payments (3—15)
Personal outlays
Personal consumption expenditures (1-26)
Interest paid by consumers
to business (2-16)
Personal transfer payments
to foreigners (net) (4-5) _
Personal saving (5-3)
7
170 8
902. 7
171 2
909. 5
1 6
8. 4
—1 3
— 1. 6
876. 7
885. 9
8. 6
.5
25. 0
22. 6
-. 3
-2. 1
1. 0
77. 0
1. 0
74. 0
.0
6. 1
-9. 1
Wage and salary disbursements (1—3) _
8 Oher labor income (1—7)
9 Proprietor's income with inventory valuation and capital consumption adjustments(l— 18;__
10 Rental income of persons with
capital consumption adjustment (1-9)
U DiviHpnH«; f l 14")
10
13
14
PERSONAL TAXES, OUT1, 150. 5 1, 154. 7 16.1
LAYS, AND SAVING
— 11.9
T*pT*<5nTi pi iiri'PTPQ't' inPOTnP
Net interest (1-18)
Interest paid by government to persons and
business (3 7)
15
Less: Interest paid to government (3—9)
16
Interest paid by consumers
to business (2—4)
17 Transfer payments to persons
18
From business (1-20)
19
From government (3-3)
20 Less: Personal contributions
for social insurance (3 20*)
PERSONAL INCOME
- 1,
751. 2
51. 4
32 7
103 8
61. 6
31 1
106 5
70. 7
6. 7
9
3 0
3.4
29 3
29. 2
—. 1
12. 1
16. 0
.0
3. 9
25. 0
139. 8
5 2
134. 6
22.6
140. 4
5. 8
134. 5
-. 3
-.8
.6
14
-2. 1
1.3
47 4
47 9
150. 5 1, 154. 7
— 5
16.1
1.3
-11.9
SURVEY OF CURRENT BUSINESS
E'art I January 1976
3.—Government Receipts and Expenditures Account
[Billions of dollars]
Amount of revision
Previously
published
Item
1
2
3
4
5
6
7
8
9
10
11
12
13
14
Purchases of goods and services (1-40)
Transfer payments
To persons (2-19)
To foreigners (net) (4-6)
Revised
Amount of revision
DefiniStatis- tional and
tical
classificational
301. 1 -5. 4
137. 7 -. 8
134.5 -1. 4
3.2
.6
-2. 7
1. 3
1.3
.4
4. 3
17.2
29.3
17.5
33. 5
-. 1
29. 3
29.2
4.3
-. 1
Net interest paid
Interest paid _
To persons and business
(2-14)
To foreigners (4-7)
Less: Interest paid to government (2-15)
Subsidies less current surplus
of government enterprises
(1-22)
Less: Wage accruals less disbursements (1-4) _
Surplus or deficit ( — ), national income and product
accounts (5—10)
Federal
State and local
-6. 3
-8. 1
1.8
2.0
-3.6
-11.7 -4.4
6.4
8. 1
.7
.8
-. 1
GOVERNMENT EXPENDITURES AND SURPLUS___
455.0
453.9 -3.2
2.2
12. 1
16. 0
-2.9
.7
-.5
.o
16
17
18
4.3
3.9
1. 1
Revised
Personal tax and nontax payments (2-1)
170.8
171.2
Corporate profits tax liability
(1-12)
55.7
Indirect business tax and nontax liability (1-21)
126.9
Contributions for social
insurance
Employer (1-6)
Personal (2-20) _ _ _ _ _
GOVERNMENT RECEIPTS.
Item
15
309.2
137.2
134.6
2.6
Previously
published
19
20
DefiniStatis- tional and
tical classificational
1. 6
-1.3
52.6 -3.8
.7
127. 3
q
1.3
101. 5
53.6
47.9
102. 9
55. 5
47.4
—. 1
.4
-. 5
1. 5
1. 5
455.0
453.9 -3.2
138. 1
136. 5
2. 5
3. 6
1. 0
4. 2
1. 0
.6
2. 6
3. 2
.6
2. 4
2.2
4.—Foreign Transactions Account
1
Exports of goods and services
(1 38)
140. 2
144. 2
3. 9
.1
3
4
2
Capital grants received by the
United States (net) (5-11)
RECEIPTS
EIGNERS
FROM
— 2. 0
5
6
—2 0
FOR-
138.2
142.2
3.9
.1
Imports of goods and services
(1-39) _
Transfer payments to foreigners (net)
From persons (net) (2-5)
From
government
(net)
(3-4)
-4. 1
7
Interest paid by government
to foreigners (3—8)
8
Net foreign investment (5-2) _ _
-3.5
-2. 8
.8
.0
PAYMENTS
EIGNERS
138.2
142.2
3.9
.1
77. 0
74. 0
6. 1
-9. 1
0
.0
17. 3
7. 6 -6. 9
-2.8
52. 4
48. 4 -3. 5
.o
— 35. 1
-38. 5 -3. 5
TO
FOR-
4. 3
4. 3
5.—Gross Saving and Investment Account
1 Gross private domestic investment (1-30)
209 4
212 2 — 2 3
2 Net foreign investment (4-8)
-3. 5
9 o
— Z.
o
GROSS INVESTMENT
205.9
.8
209.5 — 1.5
5 1
.0
5.0
3 Personal saving (2—6)
4 Wage accruals less disbursements (1—4)
5 Undistributed corporate profits with inventory valuation and capital consumption adjustments
6
Undistributed
corporate
profits (1-15)
7
Inventory valuation adjustment (1—16)
8
Capital consumption adjustment (1—17)
9 Capital consumption allowances with capital consumption adjustment (1-25)
10 Government surplus or deficit
( — ), national income and
product accounts (3-12)
11 Capital grants received by the
TTmtpH Stntpc; (Yipf^ (4 2")
12 Stfltisitirfll rHssprpnanrv (1— 23^
GROSS SAVING AND STATISTICAL DISCREPANCY
1. Numbers in parentheses indicate accounts and items of counterentry in the accounts.
-2.3
-2. 3
119.5
134.0 -1.6
16. 2
-6.3
-3.6
2.0
.7
—2 0
4
—2 0
— 6 — 1. 1
205.9
209.5 -1.5
5.0
6
ure is required. Therefore, in addition
to the new series, the NIPA's will
continue to show such measures for
corporations and nonfarm sole proprietorships and partnerships.
The new estimates of capital consumption are derived from stocks of
fixed capital calculated by the perpetual
inventory method. This method produces estimates of capital consumption
on three valuation bases: historical
cost, replacement cost, and constantdollar cost. The last two are incorporated into the new estimates. The
perpetual inventory method uses
estimates of gross investment and
service lives to derive measures of
gross stocks. Gross stocks are obtained by cumulating gross investment
in prior years and subtracting gross
investment in assets that have completed their service lives. Capital consumption allowances are obtained by
applying depreciation rates to the
investment elements that remain in
the gross stock. The investment estimates that are used to implement this
method are the producers' durable
equipment and structures components
of GNP. The service lives used for
nonresidential structures and equipment are 85 percent of the lives specified
in the 1942 edition of IRS Bulletin F.
The lives used for new residential
structures are 80 and 65 years for new
l-to-4 and 5-or-more unit dwellings,
and 40 and 32 years for corresponding
additions
and alterations.181 The
straight-line depreciation formula is
used.
The new measures of capital consumption have no effect on GNP and
charges against GNP.2 However, they
la. The part of the introduction of economic capital consumption that relates to the adjustment to consistent service
lives and depreciation formulas is regarded as a definitional
and classificational revision only if it replaces service lives
and depreciation formulas based on tax return information.
This is not the case for housing that is owned either by
owner-occupants or by landlords who file individual income
tax returns rather than business returns. Accordingly, the
introduction of the new estimates of service lives for this
housing is regarded as a statistical revision. (See the discussion of capital consumption allowances in the Statistical
Revisions section.)
2. There is one exception to this statement: the introduction of the new measures for nonprofit institutions. The
operating expenses of these institutions, which are included
in PCE, are changed, and this change is carried into the
national product total. The balancing change in the NIP
account is in capital consumption allowances. In the personal
income and outlay account, the change in PCE is offset by a
change in personal saving, and, in the gross saving and investment account, the change in personal saving is offest by the
change in capital consumption allowances.
SURVEY OF CURRENT BUSINESS
permit meaningful calculations of net
national product, and other net measures of total product and of net fixed
private domestic investment. The adjustment of the previous estimates of
capital consumption allowances to the
new basis and the associated changes
in the profit-type incomes, which are
net of capital consumption allowances,
is accomplished by a new entry labeled
capital consumption adjustment. This
entry equals the new measure of capital
consumption less the previous measure.
It changes the capital consumption
allowances in the NIP account, but
this change is offset by changes in
proprietors' income, rental income of
persons, and corporate profits and its
undistributed component (table A-l).
The changes in the NIP account carry
into the other NIPA's. In the personal
income and outlay account, proprietors'
income, rental income of persons, and
personal consumption expenditures,
and, consequently, personal saving, are
changed (table A-2). In the gross saving
and investment account, there are offsetting changes in capital consumption
allowances, undistributed corporate
profits, and personal saving (table
A-5).
2. Purchases of all mobile homes are
reclassified into investment in structures. In the previously published
estimates, 90 percent of them were
classified as PCE; this portion is reclassified into residential structures.
The remaining 10 percent were classified
as PDE; this portion is reclassified into
nonresidential structures. This change
is made because mobile homes have
become more distinguishable from recreational vehicles, and, in recent years,
increasingly important as permanent
residences.
The shift of mobile homes from PCE
to residential structures entails an
imputation procedure similar to that
used for owner-occupied conventional
residences, the essence of which is to
regard the owner of a residence as
renting to himself. The main steps in
this procedure are as follows: (1) An
item for gross rental value of mobile
homes, inferred from the actual rental
value of tenant-occupied mobile homes,
is entered in the PCE services com-
Part I January 1976
ponent. (2) The expenses of operating
mobile homes—maintenance and insurance—are removed from PCE and
are charged against the gross rental
value in obtaining net rental value.
(3) Interest paid to finance purchases
of mobile homes is reclassified from
interest paid by consumeis into interest
paid by business, which is a business
expense. (4) Property taxes on mobile
homes are reclassified from personal
property taxes into business property
taxes, which is also a business expense.
(5) To obtain total expenses charged
against gross rental value, depreciatior
on mobile homes—a heretofore unrecorded item—is added to the list of
business expenses. (6) The net rental
value, that is, rental income of persons,
is obtained by deducting items (2),
(3), (4), and (5) from item (1). The
table on page 7 demonstrates that the
equality between GNP and charges
against GNP, is net disturbed by the
entry of these items.
3. Consumer-type durables purchased
by landlords are reclassified from PCE
into PDE. This reclassification gives
these items the treatment that is given
in the NIPA's to business fixed investment. The following changes are made
in the NIPA's. In the NIP account,
(1) PCE is reduced and PDE is increased by the amount of landlords'
purchases of consumer-type durables
and (2) capital consumption allowances
and charges against GNP, and the
monetary rent component of PCE and
GNP, are increased by the amount
of capital consumption allowances on
the stock of these durables. This change
in the rent component of PCE involves
a change in its definition as space rent
to a definition of rent that includes
rent on consumer-type durables installed in rental dwellings. Profittype incomes are not affected because
they included such rent in the previously published estimates. In the
personal income and outlay account,
PCE is decreased by the excess of
purchases of landlords' durables over
the capital consumption allowances
on the stock of such durables, and
personal saving is increased by the
same amount. In the gross saving
and investment account, the increase
SURVEY OF CURRENT BUSINESS
Part I January 1976
Changes in the NIP Account
Rental income of persons
(l)-(2)-(3)-(4)-(5)
Net interest
-
Indirect business taxes and nontax liability
Capital consumption allowances
Charges against GNP
PCE: gross rental value
.
less: operating expenses
(3)
.. _
(1)
(2)
(4)
-
. . . (5)
(l)-(2)
GNP
(D-(2)
Changes in the Personal Income and Outlay Account
(1) — (2) Rental income of persons
PCE
Interest paid by consumers to business
— (3) Personal interest income:
Personal tax and nontax payments
— (4)
Personal saving:
(1) — (2) — (3) — (4) — (5)
Net interest
(3)
Interest paid by consumers to business
'
— (3)
-(5)
Personal taxes, outlays, and saving.. (1) — (2) — (3) — (4) — (5)
Personal income
(1) - (2) - (3) - (4) - (5)
Changes in the Gross Saving and Investment Account
Personal saving
-(5)
Capital consumption allowances.
(5)
Gross investment.
Gross saving.
0
in gross private domestic investment
is balanced by the increase in capital
consumption allowances and personal
saving.
4. Outlays for drilling mine shafts
to mineral deposits other than petroleum and natural gas are reclassified
into capital expenditures. In the previously published estimates, such outlays were generally classified as business
expense, and accordingly were not
explicitly recorded in the NIPA's.
The change is made to conform the
treatment of outlays for mine shafts
to that of outlays for the drilling of
petroleum and natural gas wells. This
revision entails two changes in the
NIP account. (1) Outlays for mine
shafts are added to the structures
component of nonresidential private
fixed investment, and profit-type incomes are raised correspondingly because an equal amount of intermediate
products charged to current expense
has been removed. (2) Capital consumption of the stock of mine shafts
is deducted from profit-type incomes
and added to capital consumption
allowances.
5. Inventories held by the contract
construction industry are reclassified
from nondurable into durable inventories.
Government transactions
1. Government interest is affected
by two definitional and classificational
revisions; one relates to net interest
paid to foreigners, the other to imputed
interest received by government.
Interest paid by the Federal Government to foreigners is reclassified
into a newly introduced category labeled interest paid by government to
foreigners. (State and local government interest payments to foreigners
are negligible.) In the previously published estimates, such payments were
classified as Government purchases
of goods and services and imports of
goods and services. The previous treatment had been adopted to secure uniformity with the detailed balance of
payments accounts in a period when
Government interest payments to foreigners were small. In recent years,
these payments have become a multibillion-dollar item, and it does not seem
advisable to continue that treatment
even though the new treatment results
in a difference between the net exports
of goods and services component of
GNP and the corresponding component of the detailed balance of payments accounts. The new treatment
reduces Government purchases of goods
and services and imports of goods and
services. Inasmuch as the entry for the
latter item is negative, net exports of
goods and services is increased, and
total GNP is unchanged.
In principle, interest payments by
foreign governments to residents of the
United States should be treated in the
same way as are interest payments by
U.S. government (Federal and State
and local). This cannot be done, because the amount of foreign government interest paid to U.S. residents is
not known. In the revised estimates, all
foreign interest paid to U.S. residents
is regarded as an export of goods and
services and as a factor income received
by U.S. residents. Accordingly, GNP
is overstated by the amount of foreign
government interest received by U.S.
residents. In the previously published
estimates, an attempt was made to
approximate the appropriate treatment
of foreign government interest by
equating it to foreign interest received
by the U.S. Government, and treating
it as a government sale netted against
government purchases and as an export, so that it did not affect total
GNP. The previous treatment understated GNP by the amount of foreign
business interest received by the U.S.
Government and overstated GNP by
the amount of foreign government
interest received by U.S. business,
State and local governments, and
persons.
The second item under this heading
is imputed interest received by government. In the revised estimates, government receives imputed interest and
pays an equal amount of imputed
charges for services furnished without
payment by financial intermediaries
except life insurance carriers. In the
previously published estimates, these
amounts were received and paid by
persons.
2. Federal purchases are reclassified
into subsidies in two cases: payments
to State and local authorities providing
low-rent public housing, and payments
to shipbuilders to support the construction of ships. As a consequence,
government purchases and GNP are
reduced, subsidies less the current
surplus of government enterprises in-
SURVEY OF CURRENT BUSINESS
8
Part I January 1976
Table B.—Summary of Definitional and
[Billions of
Capital formation and consumption
Capital
consumption
adjustment
Total
Line
Total
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
GROSS NATIONAL PRODUCT
Personal consumption expenditures
Durable goods
Nondurable goods
Services
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Nonfarm structures
Farm structures
Producers' durable equipment
Change in business inventories
Nonfarm
Farm
.
.
Net exports
19
20
Exports
Imports
22
23
24
25
26
27
28
29
30
31
32
33
34
35
..
-_-
Gross private domestic investment
18
21
.
_
. .. . .
. .
..
..
. . . _
._
...
.
___
.
- .. _ _ .
. . . . ....
___
.
.
. _.
_
_.__....
.
...
_.
.
. ..
.
.. - . . .
.
. _ _ - _ . _ - _ _ - - .
..
Wages and salaries
Private
.
.
Military
Government civilian
Supplements to wages and salaries.
Employer contributions for social insurance
Other labor income
. .... . _ .
48
49
50
51
52
53
54
-.---.
...._
...
. .. .
Rental income of persons with capital consumption adjustment
Rental income of persons
Capital consumption adjustment
Corporate profits with inventory valuation and capital consumption adjustments
Corporate profits with inventory valuation adjustment and without capital consumption. .
adjustment.
Profits before tax
Profits tax liability
'
Profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment
Capital consumption adjustment
.
....
55
Net interest
Current surplus of government enterprises less subsidies
57
Business transfer payments
58
Indirect business tax and nontax liability
59
Capital consumption allowances with capital consumption adjustment
60
Statistical discrepancy
62
3.8
1.0
.5
1.4
.5
-.3
-4.9
.0
5.4
-4.6
5.1
5.1
3.3
1.3
.5
5.1
.5
.6
-.2
4.6
3.3
5.1
.5
.6
-.2
4.6
3.3
3.3
.0
.2
_ 2
3.3.
3.3
1.3
.5
.5
.5
1.3
1.3
6.2
1.4
-3.3
-1.3
3.8
1.0
PERSONAL INCOME
1.3
1.3
.1
-4.1
-5.1
-1.2
-3.9
2.4
Wage disbursements less accruals private
64
Personal interest income
65
66
67
68
69
Interest paid by government to persons and business
Less* Interest paid to government
Interest paid by consumers to business
Government transfer payments to persons
Less: Personal contributions for social insurance
1.0
.6
1.4
3.8
1.9
1.6
.3
.0
.3
.0
.0
.5
1.6
.3
1.5
-1.2
1.3
3! 2
3.7
3.7
-3.7
-3.7
-3.7
1.8
.2
1.9
.3
1.6
1.6
1.6
1.6
-12.3
-.3
-11.9
-11.1
.9
-11.9
-11.9
-4.5
-2.0
-2.3
-2.2
.3
.3
-2.2
.7
-3.0
-2.5
-.5
.3
.3
.3
.3
-2.3
-2.3
5.7
1.2
-11.9
.9
.9
.3
.3
.3
-2.3
1.2
-2.4
1.3
..
16.2
-11.9
.4
.4
16.2
14.0
1.0
-9.2
-10.3
1.1
\Vage disbursements less accruals government
63
0.5
1.6
..
Proprietors' income with inventory valuation and capital consumption adjustments
56
61
1.4
1.6
1.9
. . ...
Nonfarm.
.
_ _
Proprietors' income without inventory valuation and capital consumption adjustments..
Inventory valuation adjustment .
. . . . - - - . . - _ _ .
_...
Capital consumption adjustment
46
6.6
7.2
CHARGES AGAINST GROSS NATIONAL PRODUCT
Compensation of employees
39
40
41
42
47
7.2
-2.7
38
43
44
45
Mine
shafts
4.2
Farm
..
Proprietors' income with inventory valuation adjustment and without capital consumption adjustment.
Capital consumption adjustment
_
36
37
Landlords'
durables
. ... .
Government purchases of goods and services
Federal
National defense .
Nondefense
.
State and local
Mobile
homes
-.3
3.9
-2.1
1.3
-1.2
-1.2
1.0
.1
.0
SURVEY OF CUREENT BUSINESS
Part I January 1976
9
Classificational Revisions, 1974
dollars]
Government transactions
Net
interest
paid to
foreigners
Total
-1.7
Payments
for
public
housing
Imputed
interest
received
1.1
0.0
-1.4
Other
Commodity
Credit
Corporation
Payments
to shipbuilders
-0.2
-1.0
Payments
to selected military personnel
Other
-0.4
-2.8
-3.1
Border
workers
Total
Workmen's
compensation
Line
Other
0.3
2.2
0.0
2.2
-.3
2.1
.0
2.1
2
.0
2.1
.0
2.1
3
4
5
0.0
-.3
-.3
-2.8
-2.8
1
6
7
8
9
10
11
12
13
14
15
16
17
4.3
-4.3
4.3
.0
.0
18
-4.3
.1
.1
.1
.1
19
20
-2.8
-3.2
2.8
-1.4
-.2
-1.0
-.4
.6
-5.1
-1.2
-3.9
2.3
-3.2
.1
-3.3
.7
-1.4
2
-1.0
.7
2.2
-1.4
-.2
-1.0
-.4
-.4
.5
-.8
1.3
.1
.1
.0
-1.4
2
-1.0
-.4
.3
2.2
-1.7
1.1
-.4
-.4
1.6
1.6
1.6
1.6
-2.0
-2.0
-2.0
-2.0
i
-.1
.1
2.4
2.4
1.5
.9
.0
.1
21
.1
22
23
24
25
2.2
.0
26
2.4
27
2.4
1.5
.9
28
29
30
31
32
33
34
-.5
-.5
35
-.5
-.5
-.5
36
37
38
.1
i
.1
-.1
-.7
-.7
-.7
-.7
-.5
-.5
-.1
-.1
-2.5
-2.5
46
-.1
-2.5
-2.5
47
-.1
.7
-.8
-.1
i
'.7
-.8
-2.5
-2.5
-.8
-2.5
-2.5
-.8
-2.5
-2.5
48
49
50
51
52
53
54
3.5
55
1.1
1.1
39
40
41
42
-.5
3.5
-2.3
-1.4
-.2
-1.0
.3
-.1
43
44
45
56
-.1
57
.9
58
.9
59
60
-3.9
.0
-2.8
.0
-1.1
1.2
2.1
-.9
61
62
63
-2.8
-3.9
-2.8
1.1
.1
212-633 0 - 7 6 - 2
-2.8
.4
-.3
2.6
2.6
64
-.9
1.2
-.9
65
66
67
68
69
1.2
SURVEY OF CURRENT BUSINESS
10
Part I January 1976
Table B.—Summary of Definitional and
[Billions of
Capital formation and consumption
Total
Line
Capital
consumption
adjustment
Total
70
PERSONAL TAXES, OUTLAYS, AND SAVING
71
Personal tax and nontax payments
72
Personal outlays
73
74
-
Personal saving
--
75
76
GOVERNMENT EXPENDITURES AND SURPLUS.
..
-11.9
-9.2
-1.3
-.4
-1.6
.3
1.4
-.7
-0.3
-9.1
-9.1
-11.7
2.2
.3
-10.3
1.1
Mine
shafts
0.0
-.4
2.2
2.2
77
Transfer payments to foreigners
78
Interest paid by government to foreigners
79
Surplus of deficit( — ), national income and product accounts.. .
80
RECEIPTS FROM FOREIGNERS
81
Capital grants received by the United States (net).
83
_ _ .
Landlords'
durables
Personal transfer payments to foreigners (net)
GOVERNMENT RECEIPTS
82
-
Mobile
homes
4.3
--
.7
_
.1
..
.1
PAYMENTS TO FOREIGNERS
Net foreign investment
.
..,
...
.0
84
GROSS INVESTMENT
5.0
5.1
3.3
1.3
.5
85
GROSS SAVING AND STATISTICAL DISCREPANCY
5.0
5.1
3.3
1.3
.5
creased, and charges against GNP
reduced. In the government receipts
and expenditures account, purchases
are reduced and subsidies less current
surplus of government enterprises increased, so that the government surplus remains unchanged.
3. Repayments of loans extended in
connection with the crop support programs of the Commodity Credit Corporation are revalued to reflect the
current price of these crops instead of
their price at the time the loans were
extended, which was the valuation
method underlying the previously published estimates. The extension of
these loans less their repayment is a
component o government purchases.
The change removes from government
purchases and from subsidies less the
current surplus of government enterprises—and from total GNP and
charges against GNP—an element that
is similar to the difference between
the replacement cost of inventories
used up over their historical cost. (This
difference is removed from the reported
book value change in inventories and
from reported profit-type incomes in
calculating GNP and charges against
GNP; see the discussion of the inventory change component of GNP in
the Statistical Revisions section.) The
revaluation of Commodity Credit Corporation loans requires the same
changes in the NIP account and in the
government receipts and expenditures
account as those described above in
connection with the reclassification
of Federal purchases into subsidies.
4. Two changes affect the accounting
for payments to present and former
military personnel. Retirement pay
received by Navy enlisted personnel is
reclassified from other labor income, a
component of the compensation of employees, into transfer payments. This
change is made to conform the treatment
of such payments to retirement pay in
general. The new treatment reduces
government purchases, which includes
the compensation of government employees, and GNP, and the compensation of employees and charges against
GNP. In the personal income and outlay account, other labor income is reduced and transfer payments from
government is increased by equal
amounts. In the government receipts
and expenditures account, purchases of
goods and services is reduced and transfer payments increased.
The pay of military reserves is reclassified from other labor income into
wages and salaries. The purpose of this
reclassification is to conform the treatment of military reserve pay to that of
part-time civilian employees.
5. The peaceful activities of the Energy Research and Development Administration (formerly the Atomic Energy Commission) are reclassified from
national defense into nondefense purchases.
6. Two changes affect the accounting
for taxes. Special assessments are reclassified from personal tax and nontax
payments into indirect business tax
and nontax liability. These special assessments are levied upon property
owners to finance the construction of
sewers, sidewalks, and similar items.
Business-type incomes are reduced and
business property taxes and total indirect business tax and nontax liability
are increased correspondingly, so that
charges against GNP are unchanged.
In the personal income and outlay
account, profit-type incomes and per-
SURVEY OF CUERENT BUSINESS
Part I January 1976
11
Classificational Revisions, 1974—Continued
dollars]
Other
Government transactions
Net
interest
paid to
foreigners
Total
Imputed
interest
received
Payments
for
public
housing
-2.8
-3.9
Payments
to shipbuilders
Commodity
Credit
Corporation
Payments
to selected military personnel
Other
Border
workers
Total
-1.1
Workmen's
compensation
2.1
1.2
Line
Other
-0.9
q
-.9
-2.8
-3.1
-.3
70
71
1.2
2.1
-.9
72
73
.0
0.0
74
.7
.7
1.5
1.5
75
.7
.7
1.5
1.5
76
77
4.3
4.3
.7
78
.7
79
.1
.1
.1
.1
82
.0
.0
83
-.1
-.1
-.1
85
80
81
-.1
sonal tax and nontax payments are
reduced by equal amounts.
The loss carrybacks under the Federal corporate profits tax are reclassified from the year of tax accrual into
the year of tax refund. This is done because in this case a transaction that
occurred in a given period was unnecessarily recorded in the NIPA's
in a period prior to its occurrence.
This reclassifi cation affects offsettingly
corporate tax accruals and undistributed profits in charges against GNP,
corporate profits tax liabilities and surplus in the government receipts and
expenditures account, and undistributed corporate profits and government
surplus in the gross saving and investment account.
7. Reimbursements to government
employees for depreciation on the
official use of their autos is reclassified
from transfer payments into a government purchase from persons. In the
NIP account, PCE is decreased, and
government purchases is increased by
an equal amount. GNP is unchanged.
In the personal income and outlay
account government transfer payments
84
and foreign residents working in the
United States) are treated on a gross
basis instead of on a net basis as in the
previously published estimates. The
compensation of employees received
from abroad by U.S. residents for work
performed abroad is counted as an
export and the compensation received
from the United States by foreign
residents for work performed in the
United States is counted as an import.
PCE abroad of U.S. residents while
working abroad is counted as an import,
and PCE of foreign residents while
working in the United States is counted
as an export. In the previously published estimates, these flows were shown
net, that is, only net receipts of these
groups were shown, the net receipts of
the former as exports and the net receipts of the latter as imports. The new
procedure does not change the net exports of goods and services component
of GNP, or GNP. (However, a portion
of GNP is reclassified from gross product originating in the business sector
Other
into gross product originating in the
1. Foreign transactions of border rest-of-the-world sector.) The new proworkers (U.S. residents working abroad cedure introduces a further difference
to persons and PCE are reduced by the
same amount, and, in the government
receipts and expenditures account, an
increase in purchases is offset by a reduction in transfer payments.
8. One of the criteria for classifying
a government activity as general government or as government enterprise
is changed. Net interest received in
connection with the performance of
such activities is no longer regarded as a
receipt in judging whether receipts are
a sufficient proportion of costs to qualify
an activity as government enterprise.
As a result of this change, several government activities—mostly financial—
are reclassified from government enterprise to general government.
The 1974 magnitudes for items 5,6,7,
and 8 are shown combined in the
"other" government transactions column of table B.
9. The classification of government
purchases into durable and nondurable
goods is revised to conform the former
to PDE.
SUEVEY OF CUEEENT BUSINESS
12
Part I January 1976
Table C.—Revisions of National Income and Product Accounts,
[Billions of
Total revisions
Line
1953
1948
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
1.5
GROSS NATIONAL PRODUCT
_
.-
-3.5
-2.4
4.1
-5.3
1.1
4.5
-6.4
1.0
6.6
-7.2
-.3
11.5
-7.4
-3.6
14.3
-5.6
-4.5
19.3
3.1
4.3
7.2
4.5
8.9
11.1
2.8
3.0
-.7
.1
-.8
3.7
3.0
.1
.6
.1
.1
.0
2.4
-1.2
1.5
-2.7
3.6
2.7
.1
.7
1.9
1.9
.0
5.7
.4
1.4
-1.0
5.2
4.3
.1
.9
1.6
1.5
.0
5.3
-.1
1.5
-1.6
5.4
4.4
.1
.9
-.8
-.6
-.1
8.0
.0
1.4
-1.4
8.0
6.9
.1
1.1
.9
1.0
-.1
8.9
-.3
2.0
-2.2
9.2
7.9
.1
1.2
2.2
2.7
-.5
7.3
-1.3
2.4
-3.6
8.6
7.0
2
L3
-4.5
-.4
-4.2
-.2
.3
2.7
3.4
5.6
-.8
-.6
-.5
-.8
.2
-2.5
1.2
-2.3
4.0
-1.6
1.3
.1
.1
.2
.3
.4
q
.0
.2
.0
.2
-.1
.4
.0
-.6
-
.4
.9
1.0
1.2
--
.2
-.1
.3
.3
.5
-.1
.6
.4
.4
-.2
.6
.5
.4
-.5
.9
.8
1.5
1.5
1.6
4.2
.3
.5
.5
1.9
.2
.0
.2
.0
.1
.1
.0
.3
.0
.3
.0
.2
.3
i
.6
.0
.6
.0
-.1
.4
-.5
2.3
1.8
-.2
-.4
.5
-.9
- -
Compensation of employees
-.
.
9.1
1.3
.3
.1
.2
1.0
.5
.0
.5
.0
.0
.0
CHARGES AGAINST GROSS NATIONAL PRODUCT
Wages and salaries
Private
Military
- .
Government civilian
. . . ... ...
Supplements to wages and salaries
Employer contributions for social insurance
Other labor income
.
9.5
3.3
.8
.1
.1
.0
.6
.2
.0
.4
.0
.0
.0
-.
- -
11.4
4.0
.8
Government purchases of goods and services
- -
13.1
-.2
-.7
.1
-.8
.5
.2
.0
.3
.0
.0
.0
- .
-. _
-.4
-1.7
A
-2.1
-.7
-2.6
-6.4
-8.1
-.1
-1.3
-2.1
.8
-.8
-.5
-1.1
.5
-.1
-2.7
-1.2
-1.5
.2
-4.6
-1.0
-3.5
-1.9
-5.2
-1.3
-3.9
-2.9
2.4
5.3
5.3
13.1
11.4
9.5
4.7
5.4
5.3
8.1
11.8
17.3
4.4
3.7
.9
-.2
.3
.9
-.6
4.9
4.1
1.0
-.2
.5
.7
-.3
4.5
3.6
1.1
-.3
.8
1.0
-.2
7.0
4.7
1.4
.9
1.1
.9
.2
9.3
7.3
1.5
.5
2.5
.9
1.6
12.4
10.6
1.2
.6
4.9
1.8
3.1
.1
.2
Q
ill
-4.3
-7.9
-3.0
-.9
-6.1
-3.5
-6.2
-2.4
-2.0
-2.6
-3.7
35
Proprietors' income with inventory valuation and capital consumption
adjustments.
.5
.8
.9
-.7
-1.2
-1.0
-1.8
36
37
.0
.6
-.1
.6
2
.'5
-1.5
-.6
-2.8
-1.6
-2.8
-1.4
-3.0
-1.6
38
Farm
Proprietors' income with inventory valuation adjustment and without capital consumption adjustment.
Capital consumption adjustment
-.6
-.7
-.8
-.9
-1.2
-1.4
-1.4
39
Nonfarm
.5
.9
1.2
.8
1.6
1.8
1.2
3.2
.0
.0
.0
-.8
-.1
.1
.0
.4
40
41
42
_
Proprietors' income without inventory valuation and capital consumption adjustments.
Inventory valuation adjustment.
Capital consumption adjustment
.0
.9
.0
1.2
.0
1.6
.0
1.4
.3
1.4
.2
1.0
.4
2.5
-1.5
2.4
-3.9
-1.7
2.3
-4.0
-4.4
2.3
-6.7
-5.3
1.8
-7.1
-4.3
3.6
-7.9
-4.8
4.9
-9.8
-2.3
.5
-2.8
-2.7
.7
-3.4
-2.6
1.0
-3.6
46
Corporate profits with inventory valuation and capital consumption adjustments.
Corporate profits with inventory valuation adjustment and without
capital consumption adjustment.
-3.9
-4,2
-3.6
Profits before tax
Profits tax liability
_
Profits after tax
Dividends
_ _
Undistributed profits
Inventory valuation adjustment
C apital consumption adjustment
..- _
55
Net interest
56
Current surplus of government enterprises less subsidies
57
Business transfer payments
58
_.
Indirect business tax and nontax liability
Capital consumption allowances with capital consumption adjustment
60
Statistical discrepan
61
v
PERSONAL INCOME
62
Wage disbursements less accruals, private
63
\Vage disbursements less accruals government
64
Personal interest income
65
66
67
_
Interest paid by government to persons and business.
Less: Interest paid to government
Interest paid by consumers to business
-1.7
-2.6
-.7
1.6
-5.6
6.4
-11.9
.7
.6
1.7
-1.3
-.1
-5.0
-14.4
.0
-.1
-.2
-1.4
-3.1
-1.9
-2.8
-2.6
-6.6
-12.1
.0
-.1
.1
.0
-.2
.2
-.5
-.2
2
.0
-3.3
-1.7
-.1
-1.6
-1.0
.0
-3.9
-.1
.0
-.1
-.1
.0
.0
-4.1
'.3
2.1
-2.5
-.7
-1.8
-1.3
-.5
-.6
3.7
-1.5
-.4
-1.1
-1.7
.7
-.4
3.5
-2.6
-.3
-2.2
-1.8
-.4
-.3
1.5
-3.0
.0
-3.0
-2.7
-.3
.4
2.5
-5.7
-1.6
-4.1
-1.8
-2.4
-.9
1.6
-8.6
-3.1
-5.5
-1.6
-3.9
-3.5
-2.3
.2
.6
.9
.5
-.1
.3
1.1
.1
.0
.1
.2
-.4
-.2
-.8
.0
.0
.0
.1
.0
.0
.1
59
1.8
-1.0
.0
.5
Rental income of persons with capital consumption ad j ustment
Rental income of persons
Capital consumption adjustment. _
48
49
50
51
52
53
54
.3
.4
2.3
43
44
45
47
1974
1.2
-.2
..
1973
5.3
-2.5
-1.6
3.7
--
1972
.3
-1.5
-.4
.9
-
1970
5.3
-.7
-.3
.7
.
Net exports of goods and services
Federal
National defense
Nondefense
State and local
2.4
.2
.4
.6
_ .
Exports
Imports
4.2
1969
-.3
Gross private domestic investment
--
1.6
1967
-1.0
_...-
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Nonfarm structures
Farm structures
Producers' durable equipment
Change in business inventories
Nonfarm
Farm
1.5
1963
1.2
Personal consumption expenditures
Durable goods
Nondurable goods
Services
1957
.1
.2
-.1
1.0
.3
14.5
.9
3.6
2.4
4.3
5.5
5.3
-2.4
-2.7
-5.1
-7.0
-2.4
-1.3
-3.0
-.4
.2
4.0
-1.9
.6
.3
1.0
2.8
4.9
.4
-1.8
.6
9.2
-3.6
.2
2.4
6.0
.8
-2.0
.4
.0
4.0
-3.1
6.2
5.8
-1.7
-.2
-1.0
1.5
-1.3
-.8
-1.1
4.2
1
1
- --
-.2
-.4
2
-3.3
-3.2
-4.0
-2.2
2.7
.3
-.1
.0
.7
-.2
.0
.8
-.3
.0
1.5
-.2
-.2
1.9
-.7
-.1
2.4
-1.1
-.2
2.8
-1.3
-.7
2.8
-2.0
-.7
3.2
-2.3
-.1
3.9
-2.4
68
Government transfer payments to persons
.1
.1
.2
.4
.8
.7
.8
.7
.5
.0
69
Less : Personal contributions for social insurance
.0
.0
.0
.0
.0
.0
.0
-.3
-.6
-.5
SUEVEY OF CURRENT BUSINESS
Part I January 1976
13
Major Totals and Components, Selected Years, 1948-74
dollars]
Definitional and classificational revisions
Statistical revisions
Line
1948
0.5
1.1
1963
1967
1953
1957
-0.1
-0.3
2.1
-1.2
-.7
.1
-1.2
-.3
1969
1970
1972
1973
1974
1948
1953
1957
1963
1967
1969
1970
1S72
1973
1.1
0.8
7.5
5.9
2.3
1.1
1.6
1.9
2.2
3.6
4.2
4.5
1.4
2.4
5.9
4.9
8.6
.1
-.1
-.3
-.5
-.5
-1.2
-1.2
-1.9
-1.5
-1.4
-3.7
10.0
-.7
-4.6
13.9
-.6
.0
.6
g
!o
.7
-1.2
.0
.8
-1.4
.0
.9
-2.2
.0
1.7
-3.5
.0
2.3
-3.7
.0
2.4
-5.4
.0
3.5
5.6
5.4
1974
7.2
1
.5
2
-5.9
.0
4.4
-4.9
.0
5.4
3
4
5
.7
.3
.0
.0
-.3
.0
-.3
-.5
.1
-1.1
-1.6
2.7
-1.3
-2.4
2.4
-1.7
1.1
2.1
-2.6
.9
4.1
-1.8
-.4
8.0
-.7
.0
.2
1.7
2.3
3.9
1.0
3.5
5.1
-2.3
.5
.7
1.1
1.3
2.0
3.4
3.6
5.5
6.0
5.1
6
-.7
-.7
.1
-.8
.0
.0
.0
.0
.1
.1
-.1
-.1
1.6
-.8
-.1
—.7
2.4
2.3
.1
.3
-1.3
1.3
-2.6
1.7
1.5
.1
2.3
.3
1.2
-.9
2.0
1.9
.1
1.7
-.3
1.2
-1.5
2.0
2.0
.1
2.6
-.3
.9
-1.2
2.9
2.7
.1
2.9
-.6
1.4
-2.0
3.6
3.5
.1
2.2
-1.7
1.7
-3.5
4.0
3.7
.2
.5
.0
.1
.0
.5
.2
.7
.0
.1
.0
.7
.3
1.1
.1
.1
-.1
1.0
.6
1.3
.1
.2
-.1
1.2
.6
2.0
.1
2
-.1
1.9
1.2
3.4
.1
.3
-.1
3.2
2.4
3.6
.2
.3
-.1
3.4
2.5
5.5
.3
.5
_. 2
5! 2
4.1
6.0
.3
.6
-.2
5.7
4.5
5.1
.5
.6
4'. 6
3.3
.0
.2
.3
.0
.2
.0
.0
.0
.3
.4
.5
1.2
1.6
1.5
.0
-.8
-.6
-.1
.9
1.0
-.1
.9
1.1
1.9
1.9
.0
-4.5
-.4
-4.2
.9
1.3
.0
.0
.0
2.2
2.7
-.5
.7
.0
.0
.0
.1
.1
.0
.6
.0
.0
.0
7
8
9
10
11
12
13
14
15
16
17
.1
.1
.2
.0
-.8
-.9
-.7
.1
-.4
1.4
.2
.1
.2
.4
.6
.7
1.0
2.6
3.8
4.2
18
.1
.0
.2
.0
.3
.3
-.7
.2
-.8
.0
-.5
.2
.2
.1
1.1
1.5
3.9
2.5
.0
-.1
.1
.0
.1
-.1
.1
-.3
.0
-.5
.0
-.7
.0
-1.0
.1
-2.6
.1
-3.7
.1
-4.1
19
20
.2
.0
.0
.2
-1.4
-3.4
-1.9
-2.0
-3.7
-5.4
.2
.9
1.0
.9
1.5
1.3
1.2
-.6
-2.8
-2.7
21
.2
.0
.2
.0
.0
.0
.0
.0
.0
.0
.0
.0
.3
.3
.0
.0
-.1
.1
-.2
-1.3
-1.0
-1.1
.1
-2.3
.0
-.1
.1
-1.9
-.3
-.1
-.1
-1.7
.3
-.1
.4
-4.0
-.1
-.1
.0
-5.4
.0
-.1
.1
.2
.5
-.1
.6
.4
.4
-.2
.6
.5
.1
-.7
.9
.8
.3
-1.0
1.3
1.2
-.3
-1.1
.8
1.6
-.6
-1.0
.4
1.8
-2.5
-1.0
-1.4
1.9
-4.9
-1.0
-3.9
2.1
5.1
-1.2
-3.9
2.4
22
23
24
25
-1.2
26
.2
.0
.5
-.1
-.3
2.1
1.1
.8
7.5
5.9
2.3
1.1
1.6
1.9
2.2
3.6
4.2
4.5
5.6
5.5
7.2
.0
.0
.0
1.4
3.8
4.3
4.2
6.8
10.3
15.4
.3
.5
.5
.5
.8
1.0
1.1
1.2
1.5
1.9
27
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
1.7
1.8
.1
-.2
-.3
.0
-.3
3.6
3.7
.0
-.2
.2
'.2
.0
3.9
4.1
.0
-.2
.4
.0
.4
3.4
3.6
.0
-.3
.8
.1
.7
5.6
4.7
.0
.8
1.3
-.2
1.5
7.8
7.3
.1
.5
2.5
-.4
2.8
10.8
10.6
-.4
.6
4.6
.4
4.2
.2
.3
.6
.6
.8
.9
1.1
1.4
1.5
1.6
.2
.3
.6
.6
.8
.9
1.1
1.4
1.5
1.6
.1
.1
.0
.1
.3
-.1
-.1
.4
-.5
-.1
.5
-.6
.0
.7
-.7
.1
.8
-.7
.0
.9
-.8
__. 2
1.1
-1.3
.0
1.2
-1.2
.3
1.5
-1.2
28
29
30
31
32
33
34
-.3
-2.0
-2.6
-2.3
-2.6
-2.0
-6.3
-9.2
.5
.9
1.2
1.4
1.5
1.3
.8
2.3
2.0
1.3
35
-2.6
-2.6
-2.7
-2.7
-2.6
-2.6
-5.6
-5.6
-5.7
-5.7
.0
.6
.0
.7
.0
.8
-.2
.7
-.2
.9
-.2
1.2
-.3
1.1
-.4
1.6
-.5
2.2
-.5
3.2
36
37
-.6
-.7
-.8
-.9
-1.2
-1.4
-1.4
-2.0
-2.6
-3.7
38
39
.0
.0
.0
-.1
-.1
^ 2
—.2
-1.3
-1.3
-2.5
-2.5
.0
.0
.0
-.8
-.1
.3
.2
.6
-.7
-3.5
.5
.9
1.2
1.6
1.7
1.5
1.0
2.7
2.5
1.8
.0
.0
.0
-.8
2
.0
-.1
.2
-1.2
-2.9
.0
.0
.0
.0
.1
.0
.1
.1
.2
.2
40
.0
.0
.0
.0
.0
.3
.2
.4
.4
-.6
.7
.7
1.0
1.0
1.5
1.5
2.9
2.9
2.7
2.7
2.7
2.7
2.2
2.2
4.0
4.0
5.3
5.3
6.7
6.7
0
.0
.0
-.7
-1.9
-.3
-1.2
-.6
-4.3
-9.8
0
.0
.0
-.7
-1.9
-.3
-1.2
-.6
-4.3
-9.8
OOOOOO
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
-1.0
-.1
-.9
-.3
-.6
.3
-1.3
-1.5
.3
.0
.3
-.6
.1
-.6
.7
-.1
.8
-.4
-.9
-.1
-.9
-.1
-.8
-1.0
.4
-1.4
-.6
-.8
.4
-3.5
-1.4
-2.0
.6
-2.7
-.9
-6.4
-3.8
-2.5
.9
-3.5
-3.5
.0
.0
.1
-1.3
-2.8
-3.1
-3.1
-1.2
.0
.0
.0
-.1
-.2
-.2
-.2
-.1
.0
.0
.0
.1
.0
.0
.0
.2
1
-.1
.0
-1.0
-1.3
o
-2.5
.5
.9
1.2
1.6
1.7
1.4
1.0
2.5
2.3
1.6
41
42
-3-0
-.2
-2.8
-3.7
-.3
-3.4
-4.0
-.4
-3.6
-4.4
-.5
-3.9
-4.4
-.4
-4.0
-7.1
-.4
-6.7
-8.3
-.4
-7.9
-10.1
-.3
-9.8
-12.3
-.3
-11.9
43
44
45
-3.9
-4.2
-3.6
1.4
2.4
2.0
-7.5
-.4
-7.1
2
.5
-.6
-4.5
46
.0
-.1
-.2
-.7
-1.2
-1.6
-1.6
-2.1
-2.2
-2.2
47
.0
-.1
.1
.0
-.2
.2
-.5
n
'.I
o
2
-.7
-.7
-.1
-1.2
.8
-2.1
-1.2
o
-1.6
2
-L8
-1.6
-.1
-1.6
-.3
-1.4
-1.7
.3
-2.1
—.4
-1.7
-2.2
.5
-2.2
.1
-.1
.0
-.1
-.1
.0
-2!l
-2.4
.3
-2.2
.7
-3.0
-2.5
-.5
-3.9
-4.1
-3.3
2.1
3.7
3.5
1.5
2.5
1.6
-2.3
48
49
50
51
52
53
54
3.4
.2
.6
.8
1.8
2.6
3.4
3.6
4.6
5.2
5.7
55
-.5
-1.1
.0
.1
.2
.0
-.6
-.8
-2.6
-2.4
.3
.6
-.6
-.7
-.2
-.2
-.1
-1.7
-1.7
-2.0
-2.6
-3.2
-3.1
-2.7
-1.6
-1.1
.1
.8
.4
.2
4.0
2.4
2.8
4.3
5.5
5.3
.7
.9
1.4
1.2
.8
1.5
.8
4.9
8.5
-.9
16.1
-1.2
56
57
.1
.2
.3
.5
.5
.7
.8
1.0
1.1
1.3
6.8
7.2
6.6
1.3
.1
3.6
6.8
5.5
8.9
16.2
58
59
60
-2.4
-2.9
-3.2
-3.6
-3.5
-6.6
-7.8
-7.2
-9.3
-11.9
.1
-.1
61
62
63
-3.3
-2.9
-3.8
1g
3.0
-.2
-.4
-.4
-.3
.0
.0
-.3
-.2
-.2
-.3
64
-.1
-.1
-.2
-.2
-.1
-.3
-.7
-.5
-.5
-.7
.0
-.1
.0
-.3
.3
-.1
.7
-.2
.8
-.3
1.5
-.6
1.9
-.7
2.5
-.9
2.9
-1.0
3.3
-1.5
3.6
-1.9
3.9
-2.1
65
66
67
.0
.2
.1
.1
Q
-.6
.1
.1
.2
.4
.6
.6
.7
1.0
1.1
1.3
.0
.0
.0
.0
-.3
-.6
.0
.0
.1
-1.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
-.2
.3
.0
.0
.0
.0
.0
.0
-3.0
o
-.'4
-1.4
-.5
68
69
SUEVEY OF CURRENT BUSINESS
14
Part I January 1976
Table C.—Revisions of National Income and Product Accounts,
[Billions of
Total revisions
Line
1953
1948
70
PERSONAL TAXES, OUTLAYS, AND SAVING
71
Personal tax and nontax payments
72
Personal outlays
73
74
.
_
Personal transfer payments to foreigners, (net)
Personal saving
__ _
1957
1963
1967
1969
1972
1970
1973
1974
-1.7
-2.0
-1.8
-2.4
-2.7
-5.1
-7.0
-2.4
-.1
-.2
-.6
-.9
-1.1
-1.3
-1.1
-0.8
<
4.2
-.1
1.1
-.6
-1.4
-.7
-2.3
-.9
2.0
1.0
6.8
.0
.0
-.1
.0
.1
.0
.1
.0
-2.8
-1.3
— 2
-1.1
.5
-3.1
-5.6
-3.2
-1.7
-.1
-.1
.4
.0
-3.0
75
GOVERNMENT RECEIPTS
.0
.3
.6
.-•3
-.7
-.4
.0
.4
-.4
-1.0
76
GOVERNMENT EXPENDITURES AND SURPLUS..
.0
.3
.6
-.3
-.7
-.4
.0
.4
-.4
-1.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.6
.0
.1
.2
.4
.6
.8
1.0
2.7
3.8
4.3
-.1
.1
-.1
.2
-1.1
1.9
.8
1.6
2.5
2.7
.2
.2
.4
-.6
-.8
-.5
.2
1.2
4.0
.1
.1
-.1
-.1
.2
.2
.4
-.6
-.8
-.5
.2
1.2
4.0
.2
.2
.0
-1.0
-1.0
-.7
.1
-.4
.7
.9
1.6
3.1
3.3
6.3
3.8
9.0
10.7
3.6
.9
1.6
3.1
3.3
6.3
3.8
9.0
10.7
3.6
77
Transfer payments to foreigners
78
Interest paid to foreigners
. __
79
Surplus or deficit ( — ), national income and product accounts ..
80
RECEIPTS FROM FOREIGNERS
81
Capital grants received by the United States (net)
82
83
-
..
PAYMENTS TO FOREIGNERS
Net foreign investment
- -
84
GROSS INVESTMENT
85
GROSS SAVING AND STATISTICAL DISCREPANCY
between the exports and imports components of GNP and the corresponding
components of the detailed balance of
payments accounts.
2. The treatment of workmen's compensation funds is changed to conform
the treatment of privately administered
funds to that of private pension and
welfare funds, and that of publicly
administered funds to that of social
insurance funds. In the case of privately administered workmen's compensation funds, the following changes
are made in the NIPA's. In the NIP
account, premiums paid to workmen's
compensation funds by employers are
substituted for benefits paid by the
funds in the other labor income component of supplements to wages and
salaries. This change is carried to
charges against GNP. PCE is changed
by an equal amount to reflect the
administrative expenses of the funds,
and GNP is changed correspondingly.
These changes are reflected in the
personal income and outlay account,
and leave personal saving unchanged.
In, the case of publicly administered
workmen's compensation funds, the
change involves the reclassification of
workmen's compensation funds from ices is increased as the counterentry of
government enterprises into general their increase in the NIP account. The
government. In supplements to wages government surplus remains unand salaries, premiums paid by em- changed.4
ployers are added to employer contriThe 1974 magnitudes for the two
butions for social insurance, and bene- types of funds combined are shown in
fits paid by the funds are omitted from the workmen's compensation column
other labor income; charges against of table B. In addition to the change
GNP are changed accordingly. Gov- just discussed, this column shows some
ernment purchases of goods and serv- entries that stem from the fact that the
ices are changed to include the adminis- receipts of the funds exceeded their
trative expenses of these funds, and outlays by a small amount.
GNP is changed accordingly.3 In the
3. Rents received by landlords living
personal income and outlay account, on their farms but leasing them to
transfer payments to persons from operators is reclassified from farm
government are increased by the proprietors' income into rental income
amount of benefits paid by the funds, of persons. The previous treatment had
and other labor income is reduced by
4. The discussion has been in terms of State-administered
the same amount. In the government workmen's programs. A small amount of benefits are paid to
receipts and expenditures account, (1) Federal employees under a federally administered program.
In this case, there are no employer contributions. For this
employer contributions for social insur- program, benefits are reclassified from other labor income into
ance is increased as the counterentry employer contributions for social insurance. This is done to
comparability with the treatment of State-administo their increase in the NIP account, secure
tered programs. In the NIP account, the decrease in other
(2) transfer payments is increased as labor income is offset by an increase in employer contributions for social insurance, and compensation of government
the counterentry of their increase in employees,
and government purchases—which includes that
the personal income and outlay account, compensation—are unchanged. In the personal income and
and (3) purchases of goods and serv- outlay account, other labor income is decreased and transfer
3. These statements are based on the assumption that
premiums received by funds equal their administrative
expenses plus benefit payments.
payments is increased by the same amount. In the government receipts and expenditures account, employer contributions for social insurance and transfer payments ar
increased equally.
Part I January 1976
SURVEY OF CURRENT BUSINESS
15
Major-Totals and Components, Selected Years, 1948-74—Continued
dollars]
Statistical revisions
Definitional and classificational revisions
Line
1967
1963
1957
1953
1948
1972
1970
1969
1973
1974
1948
1953
1957
1963
1967
1969
1970
-2.4
-2.9
-3.2
-3.6
-3.5
-6.6
-7.8
0.7
0.9
1.4
1.2
0.8
1.5
0.8
4.9
8.5
16.1
.0
.1
.1
-.1
-.4
-.4
-.5
-.1
1.0
1.6
-.1
-.2
-.3
1.1
-.3
-.7
.4
1.2
2.1
5.4
4.4
8.4
.0
-.3
-.7
.0
.0
—.1
.0
.1
.0
.0
.0
-.1
.0
-.4
1.1
2.0
.9
2.3
.7
-.9
-.4
3.1
6.1
.0
.0
.0
O
-2.3
-1.3
-.6
-.3
-1.5
.0
.0
.0
-.8
-2.3
-1.3
-.6
-.3
-1.5
.0
o
.0
.0
.0
.0
.0
.0
.0
.6
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
-.1
.1
.0
-1.2
-1.1
1.7
1.0
2.0
2.6
.2
.3
-.7
-.8
-.5
.2
.1
.1
.1
.2
.3
-.7
-.8
-.5
.2
.2
.1
-.9
-.6
.2
.5
1.8
1.3
-.6
.2
.5
1.8
1.3
.1
-1.1
-.5
-.5
1972
1973
1974
-7.2
-9.3
-11.9
70
-.7
-.8
-1.0
-1.1
-1.3
71
-1.0
-1.2
-2.1
-2.3
-3.4
-3.4
-1.6
72
-1.8
-3.8
-4.8
-2.8
-4.8
-9.1
74
73
-2.4
-2.5
-2.2
-2.1
-3.2
.0
.3
.6
.6
1.5
.9
.6
.7
1.1
2.2
75
-3.2
.0
.3
.6
.6
1.5
.9
.6
.7
1.1
2.2
76
.1
.2
.4
.6
.8
1.0
2.7
3.8
4.3
2.0
.0
i
.0
.2
.1
.8
.2
-.3
-.4
-.1
.7
79
1.1
3.9
.0
.1
.1
.1
.0
.0
.0
.1
-.1
.1
80
.2
1.1
3.9
.0
.1
.1
.1
.0
.0
.0
.1
-.1
.1
82
-.7
.1
-.4
.8
.0
.0
.0
.0
.0
-.1
.0
.0
-.1
.0
83
3.0
.3
3.6
4.8
-1.5
.5
.7
1.1
1.3
2.0
3.3
3.5
5.4
6.0
5.0
84
3.0
.3
3.6
4.8
-1.5
.5
.7
1.1
1.3
2.0
3.3
3.5
5.4
6.0
5.0
85
77
78
81
-1.0
required a distinction between farm
landlords living on and those living off
farms, a distinction that the U.S.
Department of Agriculture, which is
responsible for the farm income estimates, found increasingly difficult to
make.
4. Interest on home improvement
loans is reclassified from interest paid
by consumers to business into the net
interest component of charges against
GNP. These payments are made by
homeowners, and are reclassified in
order to conform the treatment of these
payments to that of mortgage interest
payments by homeowners. GNP is
unchanged, and the reduction in the
rental income of persons component of
charges against GNP is offset by an
increase in its net interest component.
The personal income and outlay account
also reflects these changes. In addition, interest paid by consumers to
business is reduced by equal amounts
on the two sides of this account.
5. Receipts of dividends and rents by
noninsured pension plans, that is, plans
managed by banks and other financial
institutions except life insurance companies, are reclassified from interest
into dividends and rents. This reclassification raises the net interest
component of charges against GNP,
and reduces the dividends and corporate
profits components and rental income of
persons component of the charges;
total charges against GNP and GNP
are unchanged. The changes in net
interest, dividends, and rental income
of persons carry into the personal
income and outlay account, and personal income is unchanged. Most of
the reclassification is from interest into
dividends; the reclassification into
rental income of persons is very small.
Items 3, 4, and 5 are shown combined in the last column of table B.
STATISTICAL REVISIONS
The statistical revisions discussed
below result in unusually large changes
in the components of GNP and in the
components of charges against GNP.
The unusual size of the revisions is due
partly to the length of the period—
encompassing two economic censuses
instead of the customary one—that has
elapsed since the last comprehensive
revision, and partly to the extreme inflation and other economic dislocations
that have complicated the task of
estimating the NIPA's in recent years.
Fortunately, many of the errors made
in estimating the components are offsetting, so that the revisions in the
major aggregates are not large by past
standards.
Among the methodological improvements introduced, those relating to
the vehicles components of GNP are
particularly important. Their major
feature is that they provide separate
estimates of personal and business
purchases of autos that are based on
current information and a better accounting of the transfer of used autos
from the business to the personal sector.
The methodology for estimating the
change in business inventories (CBI)
has also been improved, mainly by the
introduction of information that permits
a better separation of book value inventories according to the accounting
methods underlying them. This separation is the foundation of the complex
methodology for estimating CBI. However, the estimation of CBI and the
associated inventory valuation adjustment (IVA) requires further improvement, partly because the primary data
16
continue to be deficient and partly because CBI is particularly volatile and
therefore difficult to estimate. Together
with improved procedures for measuring
investment in structures and PDE,
the changes in the estimating procedures
for vehicles and inventories reinforce
the definitional and classificational improvements relating to private domestic
investment.
Other statistical revisions are due to
the routine incorporation of data sources
that were not available when the estimates were initially made. Among the
revisions that are routine but large are
those in the goods and in the services
components of PCE, residential investment, net exports, State and local government purchases, compensation of employees, and corporate profits.
Plan of the discussion.—The discussion of GNP components is taken up in
the order in which they appear in the
NIP account, which is shown in table A.
Next, the charges against GNP, as
shown in the same table, are taken up.
Revisions in NIPA entries other than
those in the NIP account, or related to
them, are small, and are not discussed.
The statistical revisions in the NIPA
entries are summarized in table C for
selected years. In the discussion below,
reference is made to supplementary tables
that provide additional information.
The current-dollar statistical revisions are generally limited to the years
1959-74, because estimates for prior
years had undergone a comprehensive
revision in 1965. Important series that
are revised for earlier years are the
gasoline component of PCE, the vehicles
components of PCE and PDE, rental
income of persons, and capital consumption allowances.
In general, the discussion of the revisions is confined to the annual estimates
for 1963-74. Revisions for prior years
are usually small. Revisions in the
quarterly estimates largely reflect the
revised annual figures and are due to
some extent to the updating of seasonal
adjustments.
At some points in the subsequent
discussion of GNP components, reference is made to the input-output (I-O)
SUEVEY OF CUKKENT BUSINESS
tables prepared by BEA. The following
sketch of I-O methodology will help
explain why these references are necessary in the discussion of some components but not of others. The essence
of I-O methodology is to estimate total
output of each of the Nation's industries, and to allocate these outputs to
the conventional GNP components
and to the industries that use these
outputs for further processing. Furthermore, the estimating methodology
insures that the total output of each
industry equals its use of industry
outputs for further processing plus its
value added seen as the sum of its
factor and nonfactor costs. This reconciliation of the uses and sources of total
output is done with the aid of a variety
of source data and estimating techniques.
It is useful to distinguish two extremes within this methodology, although in most instances the procedures
that are actually used do not conform
to either of them. The first is exemplified by the set of cases in which there
is no direct information on that part
of the value of industry outputs that
goes to the conventional GNP components. The outstanding case is PDE.
There is no information that permits a
comprehensive direct estimate of the
value of durable equipment purchased
by business investors. In the absence
of such information, I-O methodology
starts with estimates of manufacturers'
shipments of items destined for use as
PDE without further processing. It
then deducts exports and government
purchases, adds imports, allows for
inventory change, and adds trade and
transportation margins and some other,
less important items to derive the
value of PDE. The second extreme is
exemplified by the set of cases in
which direct information on that part
of the value of industry outputs that
goes to the conventional GNP components is preferable to the complex
estimating procedure just summarized.
The outstanding case is Federal Government purchases.
It is apparent that in the discussions
of the revisions of items that resemble
the first set of cases, reference will have
Part I January 1976
to be made to I-O methodology. However, the methodology is not explained
in detail; instead the discussion focuses
on the series used to interpolate between
I-O estimates (specifically, the estimates for 1958, 1963, and 1967) and to
extrapolate from the 1967 estimates
into the current period. It is equally
apparent that in the second set of
cases nothing would be gained for the
task at hand by referring to the I-O
estimates; accordingly, the discussion
is confined to the revisions of the series
that are used to make the direct
estimates of the GNP components.
Components of GNP
PCE.—Revisions in PCE on goods
are discussed in the following sequence:
those related to corresponding I-O
components and to the series by which
these components are interpolated and
extrapolated, vehicles, and gasoline and
oil. Revisions in PCE on services are
discussed in the following sequence:
auto repairs, household operation, housing, medical care, and services furnished
without payment by financial intermediaries except life insurance carriers.
1. The I-O related revisions shown
in table 1 cover PCE on all goods
except vehicles and gasoline and oil.
The revisions are irregular because of
irregularities in the extrapolator. Basically this extrapolator (the retail
control series) is the sample-based
Census Bureau series on sales of retail
stores other than auto dealers, gasoline
service stations, and building materials,
hardware, and farm equipment dealers.
It is adjusted by BEA to eliminate
three biases. The first stems from an
inadequate treatment of births and
Table 1.—Statistical Revisions in Personal
Consumption Expenditures on Goods:
Selected Years, 1963-74
[Billions of dollars]
Total
Autos
I-O
related
Trucks Gasoline
and oil
1963
-2.7
-3.1
0.1
0.8
1967
-3.7
-4.2
-.1
1.2
-.6
1969
1970
-.7
—1.7
-1.3
o o
-.8
.1
1.9
1.7
-.5
-.2
1972
1973
1974 .
—2 1
-5.1
-5.3
—6.1
-8.8
-9.0
1
-.7
-.7
4.1
4.4
3.9
-.1
.0
.5
-0.5
SUEVEY OF CURKENT BUSINESS
Part I January 1976
Table 2.—Retail Control Series: 1967-74
[Billions of dollars]
Published
sales !
BEA
adjustment
Table 3.—Percent Allocation of New and Net
Used Autos to PCE: Selected Years, 1963-74
New and
net used
Retail
control
series
1963
1967 .
1968
1969 .. .
1970
235.6
254 7
268.1
287 9
00
18
69
55
035 6
256 5
275 0
293 4
1967.
1971
1972
1973 .
1974
305.6
332 5
371.3
409 2
3.4
47
61
71
309 0
337 2
377 4
416 3
1972
1973
1974
1. Sales of retail stores other than auto dealers, gasoline
service stations, and building materials hardware, and farm
equipment dealers raised to the level of I-O related PCE.
deaths of retail stores, which, given the
growth in the underlying universe of
retail stores, results in a downward
bias. This bias was corrected by the
Census Bureau; BEA made its own
correction for 1968-70. The second
bias stems from the fact that many
stores do not comply with the Census
Bureau's instruction to include sales
taxes in their reports of sales. This
noncompliance also results in a downward bias, because sales taxes have
increased faster since 1967 than sales
exclusive of these taxes. The third stems
from the fact that, because of cutoff
dates in the revision schedule used by
the Census Bureau, certain preliminary
sales reports that are typically understated are not replaced by final reports.
BEA has adjusted the published Census
Bureau series for the second and third
biases for the years beginning in 1968
on the basis of information from the
Census Bureau and other sources.
The relation of the BEA retail control
series to the sales series published
by the Census Bureau is shown in
table 2.
2. The revisions incorporate a reworking of the procedure for allocating
new and used autos to PCE and PDE.
In the previously published estimates,
fixed percentages had been used to
allocate total private purchases of
new and used autos combined. The
use of fixed percentages—85 percent
to PCE and 15 percent to PDE—
has long been recognized as a flaw,
but it was difficult to remedy because
of the lack of pertinent data. The
revised procedure is a distinct improvement, even though the new source
data on which it is based continue to
212-633 0 - 7 6 - 3
..
1969
1970
..
New
83 7
76 3
84.2
75 2
82.9
85.1
74 4
74.7
83.9
82.5
82.4
75 7
73.2
70.2
have shortcomings. It incorporates current information on actual new purchases of autos by persons and by
business. It includes a separate businesspersonal allocation of autos used for
both purposes. Also, it takes explicit
account of the transfer of used autos
among the business, personal, and
government sectors. The new procedure
is based on data on registrations,
retention rates, and depreciation schedules, and provides annual estimates
for 1946-61 and quarterly estimates
beginning in 1962. Further revisions
in the auto estimates result from the
incorporation of new information on
dealers' margins and new seasonal
adjustments to the series on unit
sales of new autos.
The PCE share of expenditures on
new autos plus net used autos is, on
average, slightly smaller than the
85 percent assumed previously, and the
share of expenditures on new autos
is much smaller (table 3).
3. The revisions also take into account
that consumer purchases of trucks
have grown to significant amounts
in recent years (table 1). Accordingly,
a procedure for allocating trucks
17
between PCE and PDE, similar to
the one for autos, is introduced.
4. The revisions in expenditures for
gasoline and oil are associated with
those in autos and trucks. A downward
revision is based on new information on
the average number of miles that business- and consumer-owned autos are
driven. This downward revision tends
to be offset by an upward revision that
stems from the allocation of trucks to
PCE. In 1974, PCE for gasoline and
oil is further revised upward on the
basis of new information on the retail
price of gasoline.
5. The auto repair component of
PCE is revised upward in association
with the revised allocation of autos to
PCE (table 4). Used autos, the allocation of which to PCE is increased,
require more repair than new autos, the
allocation of which is decreased.
6. The upward revision of the household operation component conforms it
to the 1967 I-O estimate of this item.
The revision was largely in consumer
purchases of utilities.
7. Housing expenditures is revised
upward because of the incorporation of
information from the 1960 and 1970
Censuses of Housing. The number of
occupied nonfarm dwelling units is
increased. This increase is partly offset
by a decrease in the estimate of average
rents. Beginning with 1973, housing
expenditures is also increased on the
basis of information from the Annual
Housing Survey conducted by the Census Bureau.
8. An upward revision in medical
care reflects new information from
several sources, including the Department of Health, Education, and Wei-
Table 4.—Statistical Revisions in Personal Consumption Expenditures on Services: Selected
Years, 1963-74
[Billions of dollars}
Total
2.7
1963
Auto
repair
0.5
Household
operation
0.3
Housing
Medical
care
Financial
services
furnished
without
payment
-0.4
Other
0.3
1.4
0.6
-.7
-.2
2.4
1.4
1.4
.6
-.2
1969
1970
2.1
4.1
2.0
2.5
1.7
2.0
.4
.5
.7
1.3
-1.6
-1.4
-1.1
-.8
1972
1973
1974
8.0
10.0
13.9
3.7
4.0
4.6
2.5
3.0
3.5
.8
2.4
4.6
3.0
3.5
4.0
-1.5
-1.5
-3.0
-.5
-1.5
.1
1967-. .
.
SUEVEY OF CUEKENT BUSINESS
18
Part I January 1976
Table 5.—Statistical Revisions in Gross Private Domestic Fixed Investment: Selected Years, 1963—74
[Billions of dollars]
Nonresidential
Producers' durable equipment
Structures
Total
Total
Buildings
excluding
farm
Public
utilities
Residential structures
Farm
buildings
Petroleum
and
natural
gas well
drilling
Other
Total
-0.3
Margin
on
1-0
leased
computers
Related
Expenditures on
nuclear
fuels
Autos
Trucks Total
Brokers'
commissions
New construction
Other
1963
1.6
-0.1
0.0
0.0
0.3
0.0
-0.7
0.3
-0.2
0.0
0.4
—1.2
2.4
1.4
7
04
1967
.3
1.3
-.5
.5
.6
.5
.2
-2.6
-1.3
— .5
.0
.2
—1.0
1.7
13
5
_ i
1969
1970
2.3
1.7
1.2
1.2
-.6
-.6
.4
.2
.6
.7
.5
.5
.4
.4
-.9
-1.5
.7
.2
-.6
-.5
.2
.3
.7
-.1
-1.9
-1.4
2.0
2.0
1.2
1.2
.9
9
.0
1972
1973
1974
2.6
2.9
2.2
.9
1.4
1.7
—. 6
—.6
.0
.0
-.6
.7
.8
.5
.6
.8
1.3
.4
.4
.5
-1.2
-2.0
-3.5
1.3
.0
-1.7
-.4
-.5
— .6
.4
.4
.5
.6
1.3
1.2
-3.1
-3.3
-2.8
2.9
3.6
4.0
1.2
.9
1.4
1.6
2.0
2.0
.0
6
.6
fare estimates of receipts of proprietary
hospitals and nursing homes, and IES
tabulations of earnings of physicians,
dentists, and other health service
workers.
9. Services furnished without payment by financial intermediaries except
life insurance carriers is revised downward on the basis of information collected starting in 1970 in a new Federal
Eeserve Board quarterly survey of the
ownership of bank deposits. This information replaces estimates that had
been based upon the extrapolation by
IES data of a similar Federal Eeserve
survey for January 1961.
Nonresidential fixed investment.—The
revisions in the structures and PDE
components of gross private domestic
fixed investment are shown in table 5.
1. The revisions in the components
of nonresidential structures stem largely
from routine incorporation of the data
sources underlying these estimates. The
revision for public utilities is due partly
to the elimination of interest costs on
Table 6.—Statistical Revisions in Change in
Business Inventories: Selected Years,
1963-74
[Billions of dollars]
Nonfarm
Total
Total
1963
0.1
0.1
Book
value
-0.2
Inventory
valuation
adjustment
Farm
0.3
0.0
1967
1.9
1.9
2.5
-.6
.0
1969
1970
1.6
-.8
1.5
-.6
1.6
-.5
-.1
-.1
.0
-.1
1972
1973
1974
.9
2.2
-4.5
1.0
2.7
-.4
.5
4.0
2.7
.5
-1.3
-3.0
-.1
-.5
-4.2
plants under construction, which had
been included in the value of construction in the previously published estimates. Escalation of interest rates and
increased construction underway on
utility plants had raised these costs
from negligible amounts through the
mid-1960's to substantial amounts in
recent years. Inclusion of these costs in
the value of construction had resulted
in a discrepancy between GNP and
charges against GNP, because these
costs were counted as part of the value
of production, but were counted as
business expense in the calculation of
the corporate profits component of
charges against GNP.
2. The I-O related revisions in PDE
cover PDE except autos and trucks.
These revisions reflect changes in the
product composition of output, in the
allocation between government and
business, and in margins. The I-O
estimates are interpolated and extrapolated by the average of two series.
The first of these is a composite of
manufacturers' shipments of the several
types of PDE. Eevisions in this series
reflect, in essence, the I-O revisions.
The second series is based on plant and
equipment (P. & E.) expenditures as
reported in the BE A P. & E. survey,
adjusted to make these expenditures as
comparable as possible to the I-O
component. Eevisions in the series
based on P. & E. expenditures are due
mainly to the incorporation of the
partial results of an ongoing study
designed to improve the reconciliation
of the P. & E. expenditures and the I-O
estimates of PDE.
o
3. The valuation of computers that
are owned by the manufacturer and
leased to others is revised to reflect the
manufacturer's cost instead of the
manufacturer's sales price. This revision is designed to make the valuation
of these computers consistent with the
valuation that is used in estimating
their depreciation.
Expenditures for nuclear reactor fuel
elements and control rods are added to
PDE beginning in 1968. This revision
is made to conform the treatment of
this item to its tax treatment as
capital outlay rather than as current
expense. Neither this revision nor the
one just mentioned has as yet been
incorporated into the I-O estimates of
PDE.
Table 7.—Inventory Valuation Adjustment:
Selected Years, 1963-74, and Quarters,
1974-75
[Billions of dollars]
Applicable to
inventory change
Previously
published
Revised
Applicable to
profit-type incomes
Previously
published
Revised
1963
-0.5
-0.2
-0.5
-0.2
1967
-1.4
-2.0
-1.4
-2.0
-5.9
-5.5
-6.0
-5.6
-5.9
-5.5
-6.0
-5.6
-8.1
-19.9
-43.5
-7.6
-21.2
-46.5
-8.1
-19.9
-38.5
1969
1970
- -
1972
1973
1974
-7.3
-20.3
-42.7
Seasonally adjusted at annual rates
1974: I
-33.8
-40.3
-61.7
-38.0
-35.6
-43.5
-63.9
-43.0
-30.5
-35.8
-56.3
-31.5
-30.9
-37.0
-60.5
-42.3
1975: I
II
III
-7.6
-10.6
-13.1
-16.0
-7.8
-11.5
-6.8
-9.3
-13.1
-15.0
-7.5
-11.5
II
III
IV
SURVEY OF CURRENT BUSINESS
Part I January 1976
4. The revisions of the vehicles
component of PDE were explained in
connection with the corresponding component of PCE.
Residential investment.—Most of the
upward revisions in residential structures reflect changes in the Census
Bureau's estimates of multiunit structures; these changes are due to new
information on the difference between
the value recorded on building permits
and the value of the finished structures.
Upward revisions in real estate brokers'
commissions are based on information
on the volume of real estate transactions
contained in the 1967 Census of Governments (table 5).
CBI.—Revisions in CBI stem from
new information on book values and
from improvements in the methodology
of deriving the CBI from book values.
1. The 1974 change in farm inventories was revised by the Department
of Agriculture to incorporate yearend
information on inventories of crops and
livestock that was not available when
the estimate was initially published.
Revisions in the book value of nonfarm inventories stem mostly from the
introduction of new information from
the 1967 and 1972 censuses of manufactures and trade, and new and
revised information from the corresponding annual and monthly surveys. The estimates for nonfarm industries other than manufacturing and
trade are revised to incorporate IRS
tabulations for 1972 and 1973, and a
new procedure for extrapolating the
1973 estimates on the basis of information from the Securities and Exchange
Commission and other sources (table
6).
2. The procedure for deriving CBI
from book values was thoroughly reworked. Inasmuch as the IVA is the
change in book values CBI less the
effect of these revisions is reflected in
the IVA column of table 6. According
to NIPA definitions, CBI is the change
in the physical volume of business
inventories valued in prices of the
current period. In general, the change
in the book value of inventories is not
the required measure, because book
values reflect the prices of the inventories in the periods in which they were
acquired; if prices change, identical
physical units in the stock of inventories will generally be valued at
different prices. Therefore, the difference in the book value of inventories
does not measure the change in physical
volume in current prices, but represents a mix of volume, price, and capital
gain-like appreciation factors.
To provide the CBI measure,
book values are first converted into
physical volume measures by expressing
book values in constant prices. These
constant-price measures are differenced,
and, as a final step, CBI is derived by
expressing these differences in current
prices. The estimating procedure is as
follows. Inventory stocks are separated
into components according to the inventory accounting methods that underlie
them. This is done because the mix
of acquisition costs differs according
to the several accounting methods.
Next, prices that correspond to the
acquisition costs are selected with the
aid of estimates of turnover periods.
In general, the longer the turnover
period, the further back in time one
must go to reach the prices that are
19
reflected in acquisition costs. Division
of the book values by indexes based
on these prices converts book values
of inventory stocks into constantdollar inventory stocks. The differences
between the constant-price measures
are multiplied b}^ ratios of current
prices to constant prices to obtain
CBI.
Better information, derived mainly
from two BE A surveys, on the inventory accounting methods underlying
book values is the most important
element in the improvement of the
methodology. In addition, the estimating procedure is carried out in
finer industry detail than in the previously published estimates.
The previously published and revised
estimates of the IVA are shown in
table 7. This table also shows a feature
of the new methodology not yet discussed. Beginning in 1972, two IVA's
are calculated: one is applicable to
CBI, and the other to profit-type
incomes. It is necessary to make two
calculations, because accounting methods underlying the inventory book
values, which are largely based on
Census Bureau surveys, differ somewhat from those underlying the IRS
and Federal Trade Commission tabulations of book profits and proprietors'
income, which are used in deriving the
NIPA measures of these incomes.
Net exports.—Net exports reflect revisions in the detailed balance of payments accounts, which, because of
differences in publication dates, had
not been incorporated in the NIPA's.
Except in recent years, most of the
revisions are in components other than
merchandise, and stem from new in-
Table 8.—Statistical Revisions in Net Exports : Selected Years, 1963-74
Table 9.—Statistical Revisions in Government Purchases: Selected Years, 1963-74
[Billions of dollars]
[Billions of dollars]
Exports
Total
Merchandise
Imports
Other
Merchandise
State and local
Federal
Total
Other
Total
National Nondefense defense
Total
Compensation
of employees
Structures
Other
1963
0.0
0.2
0.1
0.1
0.2
1963
0.2
0.3
0.3
0.0
0.0
-0.1
0.0
0.0
1967
-.8
.0
-.7
.0
.1
1967
-1.4
—.1
.1
-.2
-1.3
.2
.2
-1.8
1969
1970
-.9
-.7
.0
.5
-.8
-1.0
.0
.1
.1
.0
1969
1970
-3.4
-1.9
-1.0
.0
-1.1
-.1
.1
.1
-2.3
-1.9
.2
.3
-1
-1
-2.5
-2.2
1972
1973
1974
.1
-.4
1.4
.6
1.1
1.4
-.4
.0
2.6
.0
.8
1.2
.1
.7
1.3
1972
1973
1974
-2.0
-3.7
-5.4
-.3
.3
-.1
-.1
-.1
-.1
-.1
.4
.0
-1.7
-4.0
-5.4
1.5
1.4
1.2
-1
-3
3
-3.2
-5.1
-6.9
.
20
formation on the net inflow of property incomes, particularly the earnings of U.S.-based multinational petroleum corporations (table 8).
Government purchases.—Most of the
revisions in government purchases are
in State and local purchases, specifically in the "other" component (table
9). They are largely due to three factors:
the incorporation of information from
the 1972 Census of Governments and
the 1973 and 1974 Governmental Finances Surveys; improved procedures
for converting Census Bureau information on local governments from a fiscal
year to a calendar year basis; and a
reclassification of certain nontax receipts into government sales, which are
deducted in deriving purchases.
Charges against GNP
Compensation of employees.—The statistical revisions in compensation of
employees are shown in table 10.
1. The major revision in wages and
salaries is in the industries in which
the estimates are based on data from
UI programs. The coverage of these
programs was extended in 1972 to
include firms with less than four
emplo3^ees and also commission salesmen and agents-drivers. Analysis of the
1972 and 1973 tabulations under the
extended program indicated not only
that the BEA estimates of previously
noncovered employees had been too
low, but also that some firms previously
covered by the programs had not been
filing returns. The upward revision of
the estimates due to the incorporation
of the new data was carried back to
1958 and forward to 1974. In the latter
year, it accounted for about one-half
of the revision in the Ul-based wages
and salaries estimate. The remainder
resulted from the routine replacement
of estimates based on the Bureau of
Labor Statistics (BLS) monthly establishment survey by estimates based
on the UI data. Revisions in other
private wages and salaries reflect mainly
new Department of Agriculture estimates for farm employees and new BLS
data on the employees of religious
organizations. Wages and salaries of
State and local government employees
SURVEY OF CURRENT BUSINESS
is revised upward on the basis of information from the 1972 Census of
Governments.
2. Revisions in supplements to wages
and salaries are due to new and revised
information on employer contributions
to private pension and welfare funds.
The 1972 and 1973 revisions incorporate
new IRS tabulations; the 1974 revisions
are based on information from private
sources.
3. The allocation of employee compensation by legal form has been reworked on the basis of information from
the 1963, 1967, and 1972 economic
censuses. As a result, the corporate
share is raised; the upward revision
amounts in recent years to about 10
percent
of
corporate
employee
compensation.
Part I January 1976
Proprietors' income.—Revisions in the
net income of farm proprietors are due
to higher expenses beginning with 1950,
lower marketings in 1973, and the
downward revision of farm inventories
in 1974. Revisions in nonfarm proprietors' income are mainh~ due to the
routine incorporation of IRS tabulations for 1973 and their extrapolation
into 1974.
Rental income of persons.—Downward
revisions in capital consumption allowances, which are described below, and
upward revisions, which were described
in connection with the housing component of PCE, are the major factors
in the upward revision in the rental
income of persons.
Corporate pro-fits.—Most of the 1972
Table 10.—Statistical Revisions in Compensation of Employees: Selected Years, 1963-74
[Billions of dollars]
Wages and salaries
Total
Private
Total
Covered by
Total unemployment Other
insurance
Government
Supplements
to wages
and salaries
-0.
1963. -
1.4
1.7
1.8
0.7
1.1
-0.1
1967
3.8
3.6
3.7
2.1
1.7
— 2
1969
1970
4.3
4.2
3.9
3.4
4.1
3.6
2.3
2.4
1.9
1.2
-.2
—.2
6.8
10.3
15.4
5.6
7.8
10.8
4.7
7.3
10.6
2.6
5.1
n.a.
2.1
2.2
n.a.
.9
.6
.3
1972
1973
1974
....
1.
2.
4.
n.a. Not available.
Table 11.—-Statistical Revisions in Corporate Profits With Inventory Valuation Adjustment:
Selected Years, 1963-74, and Quarters, 1973-74
[Billions of dollars]
Domestic
Total
Total
Profits
before tax
Inventory
valuation
adjustment
Rest of
the world
1963
-0.7
-0.8
—1.1
0.3
0.1
1967
—1.9
—1.3
-.7
-.6
-.6
1969 .
1970 ---
-.3
-1.2
.5
-.3
.9
.0
-.4
-.3
-.8
-.9
1972 1973 1974 -.
-.6
-4.3
-9.8
—.2
-3.8
-11.0
-.6
-2.9
-7.5
.4
-.9
-3.5
-.4
1.2
Seasonally adjusted at aninual rates
1973: I
II
III.
IV.
1974: I
II
III
IV .
-2.3
-5.4
-5.0
-4.6
—1.9
-5.0
-4.1
-4.3
-2.5
-4.4
-3.7
-1.2
0.7
-.6
-.4
-3.1
-0.5
-.4
-.9
-.3
-5.0
-7.3
—11.8
-15.1
-6.2
-8.2
-13.0
-16.5
-5.9
-7.9
-9.4
-6.9
-.3
-.3
-3.6
-9.6
1.2
.8
1.2
1.4
SUKVEY OF CUERENT BUSINESS
Part I January 1976
and 1973 downward revisions in corporate profits (and profits tax liability)
stem from the substitution of IRS
tabulations for estimates based on the
Federal Trade Commission and other
preliminary data (table 11). The 1974
revisions reflect the extrapolation of the
IRS tabulations and some improvements in the extrapolator series for
manufacturing. The latter also account
for the irregularity of the quarterly
revisions. For years prior to 1973, the
revisions are due also to the incorporation of improved measures of profits
discovered as a result of IRS audits, and
a more adequate accounting of foreign
trading losses of U.S.-based multinational petroleum corporations. The
IVA series shown in table 11 is the
corporate part of the IVA applicable
to profit-type incomes shown in table 7.
Net interest.—The downward revisions in net interest through 1973
reflect the incorporation of information
fom the 1970 Survey of Residential
Finance conducted by the Census
Bureau, which indicated that the prior
methodology had overstated the increase in the average interest rate paid
on home mortgages. In 1973 and 1974,
the reduction in this item is offset by
new information on other components
of net interest from IRS, regulatory
agencies, and other sources. Introduction of this new information results in
a large upward revision in net interest
paid by corporate business.
Capital consumption allowances.—
Most of the downward revision is in the
other private business component of
noncorporate business, and is due to
the substitution of longer service lives
in the calculation of capital consumption allowances on tenant- and owneroccupied housing (table 12). The revised estimates are based on service
lives of 80 years for new l-to-4 unit
structures, 65 years for new 5-or-more
unit structures, and 40 and 32 years
for the corresponding additions and
alterations; in the previously published
estimates, a 50 year service life was
used for all residential structures.
(Both sets of estimates are based on
straight-line depreciation.)
Beginning in 1972, the revisions in
corporate capital consumption allowances are due to the routine incorporation of IRS tabulations for 1972 and
1973, and their extrapolation into 1974.
The revisions for 1959-71 largely result
from the addition to depreciation, as
tabulated by IRS, of allowances for
depreciation on special tools and dies
that are used in the motor vehicle and
other manufacturing industries. Prior
to 1971, IRS regulations required that
the cost of these items be reported as
other deductions.
CONSTANT-DOLLAR ESTIMATES
The valuation period underlying the
constant-dollar estimates is shifted from
1958 to 1972, and the estimates are reworked back to 1929 to provide consistent time series for the entire period
covered by BEA. The selection of 1972
rather than a more recent year was
dictated mainly by the fact that 1972
is the latest year that will not be affected by the routine July revisions of
the NIPA's. Incorporation of the sharp
increases in food and energy prices in
relation to the prices of other goods and
Table 12.—Statistical Revisions in Capital Consumption Allowances: Selected Years,
1963-74
[Billions of dollars]
Noncorporate
Total
Corporate
Total
Sole proprietors and
partnerships
Other
private
business
1963
—1 7
06
—2 3
—0 1
—2 2
1967
—2.0
1.0
—3.0
—.3
—2.7
1969 .
1970
—2.6
—3.2
.9
.5
—3 6
—3.7
—.5
—3.1
—3.2
1972 _
1973
1974
—3.1
—2.7
—1 6
1.4
2.1
28
—4 5
—4.8
—4 5
—.8
A
o
—4.1
—4.0
—4 3
21
services since 1972 would probably
have a significant effect on the movement of constant-dollar GNP. Because
energy prices are likely to remain higher
in relation to other prices than they
were in 1972, it is regrettable that it
was not possible to take the energy
price increase into account. However,
the increase could not have been taken
into account in a fully satisfactory way
even if the latest year had been selected
as the valuation period, because other
prices in the economy have only partly
adjusted to the higher level of energy
prices.
The reworking of the constant-dollar
estimates has, of course, resulted in a
new set of implicit price deflators.
Information on fixed-weigh ted and
chain price indexes is presented in
greater detail than previously.
Several new constant-dollar measures
are introduced. Net variants of constantdollar measures at market price—most
importantly net national product and
net private domestic fixed investment—
are calculated using economic capital
consumption. Constant-dollar measures
at factor cost—most importantly national income—are also introduced. To
calculate the latter, it is necessary to
convert all nonfactor charges against
GNP in to constant dollars. The methods
used are somewhat arbitrary in some
cases. Indirect business tax and nontax
liability is converted into constant
dollars in considerable detail on the
premise that changes in tax rates are
price changes. Taxes on specific products, such as liquor, gasoline, and
tobacco products, are extrapolated from
the valuation period by the corresponding constant-dollar product series. Business property taxes are handled in
essentially the same way: 1972 property taxes are extrapolated by constantdollar stocks of residential and nonresidential buildings. General sales taxes
are extrapolated by constant-dollar
PCE on goods Jess PCE on the specific
products referred to above and less onehalf of PCE on food. Subsidies are
handled in essentially the same way as
taxes on specific products, that is, subsidies are extrapolated by constantdollar series related to the subsidized
activity. Business transfer payments
and the current surplus of government
22
enterprises are extrapolated by constantdollar gross nonfarm business product.
Specific improvements in the estimates of the components of constantdollar GNP are discussed below.
PCE.—Three major changes are
made in the estimation of constantdollar PCE.
1. For years beginning in 1958,
constant-dollar expenditures on food
consumed at home is estimated by
applying specific price indexes to about
17 separate categories of food. In the
previously published estimates, total
expenditures on food consumed at home
was divided by a composite price index
with fixed weights. The new procedure
is an improvement, because it gives
weights to the various categories of food
that are proportional to the relative
importance of these categories in each
year.
2. The use of Department of Agriculture indexes of prices paid by farmers
to supplement components of the Consumer Price Index in the estimation of
constant-dollar PCE was discontinued
beginning with the estimates for 1958.
These indexes are deficient because
they do not distinguish between various
grades of goods, and accordingly their
use gives rise to calculations in which
what should be real changes appear to
be price changes. Discontinuation of
the use of these price indexes seemed
justified also because prices measured
by the Consumer Price Index have
become increasingly representative of
prices paid by consumers living in rural
areas.
3. It is notoriously difficult to measure
the constant-dollar output of financial
services. A new procedure is used to
measure the constant-dollar output of
services furnished without payment by
financial intermediaries except life
insurance carriers. It assumes that the
real volume of this output is proportional to full-time equivalent employment in these financial intermediaries.
Although this assumption is arbitrary,
it is preferable to the procedure underlying the previously published estimates, which indicated a persistent
and substantial decline in output per
worker.
SUKVEY OF CURKENT BUSINESS
Fixed investment.—Two improvements in the measurement of constantdollar fixed investment, which had been
incorporated in the previously published
estimates beginning with 1971, are
extended back to 1947 and 1958,
respectively. The first one relates to
structures, the constant-dollar value
of which is difficult to measure, because
of changes in the physical specification
of structures that are produced. The
second relates to PDE, where the
proper matching of published price
indexes with the delivery basis on
which PDE is measured is troublesome.
The new measures, which continue to
have serious shortcomings, have been
described in greater detail in the
SURVEY.5
Government purchases.—An attempt
is made to approximate specification
pricing for the value added by general
government, which is measured by the
compensation of government employees. In the previously published
estimates, the constant-dollar measure
of the value added by Federal civilian
employees was obtained by extrapolating base-year compensation by full-time
equivalent employment. In the new
procedure, in effect, indexes (1972 =
100) of employee hours in the various
Civil Service and wage board grades
are given weights that are proportional
to 1972 payrolls in these grades. The
rationale of this weighting system is
that average pay by grade reflects such
factors as experience and education.
The procedure is modified to eliminate
differences in average pay that do not
reflect differences in these factors.
Constant-dollar value added by military
employees is obtained by weighting
indexes of employment in the various
ranks of officers and enlisted men by
1972 payrolls in these ranks. For State
and local government employees other
than those engaged in education, unweighted man-hours are adjusted by
use of the information relating to
Federal civilian employees. For elementary and secondary school teachers,
5. See "Revised Deflators for New Construction, 1947-63,"
SURVEY OF CURRENT BUSINESS, August 1974, and Irving
Eottenberg and Gerald Donahoe, "Improved Deflation of
Producers' Durable Equipment," SURVEY OF CURRENT
BUSINESS, July 1975.
Part I January 1976
indexes of employee hours crossclassified by educational attainment
and experience are given weights proportional to payrolls in those crossclassifications. For teachers in higher
education, the weighting system takes
into account only differences in educational attainment. The weighting
system for nonteaching employees takes
into account occupational categories.
The methodology for obtaining constant-dollar
government purchases
from business is improved by the incorporation of new information on
prices and on the product composition
of government purchases. Most important among the former is the new
series on the prices of structures referred
to above. Also, in some cases price
information that relates directly to the
kinds of goods and services purchased
is obtained from Government agencies.
This information replaces previously
used price series that were less representative. Greater detail on the product composition of government purchases permits a better matching of
current-dollar purchases with the price
indexes used to convert them into
constant dollars. For the Federal
Government, this information is derived from the records on contracts
awarded by the Department of Defense, General Services Administration,
and some other agencies. For State and
local government, incorporation of information underlying the 1963 and 1967
I-O tables on the industry distribution
of the several functional categories of
purchases serves a similar purpose.
NEW TABLES AND SERIES
New tables and new items in tables
that are carried over from the previously
published set are listed in exhibits A
and B. Asterisks in these exhibits
indicate tables that contain annual
information only and that will appear
in a later publication rather than in
this report. This report is confined to the
presentation of the quarterly information and the annual information associated with it.
SUEVEY OF CURRENT BUSINESS
Part I January 1976
23
Exhibit A.—New Tables
Table
Title
Table
Relation of Gross National Product, Net National Product,
and National Income in Constant Dollars: Annually,
1929-74, and Seasonally Adjusted Quarterly Totals at
Annual Rates, 1947-74
1. 11 Net National Product and National Income by Sector and
Industry: Annually, 1929-74, and Seasonally Adjusted
Quarterly Totals at Annual Rates, 1946-74
1. 12 Net National Product and National Income by Sector and
Industry in Constant Dollars: Annually, 1929-74, and
Seasonally Adjusted Quarterly Totals at Annual Rates,
1947-74
1. 20* Housing Output, Gross Product, and Income: Annually,
1929-74
1. 21* Housing Output, Gross Product, and Income in Constant
Dollars: Annually, 1929-74
2.4
Personal Consumption Expenditures by Major Type of
Product in Constant Dollars: Annually, 1929-74, and
Seasonally Adjusted Quarterly Totals at Annual Rates,
1947-74
3. 1* Government Receipts and Expenditures: Annually, 1929-74
3. 8
Government Purchases of Goods and Services by Type in
Constant Dollars: Annually, 1946-74, and Seasonally
Adjusted Quarterly Totals at Annual Rates, 1947-74
3. 16* Relation of National Defense Purchases in the National
Income and Product Accounts to National Defense Outlays
in the Unified Budget: Fiscal Years, 1960-74
4. 3* Relation of Foreign Transactions in the National Income and
Product Accounts (NIPA's) to the Corresponding Items in
the Balance of Payments Accounts (BPA's): Annually,
1929-74
5. 2*
Gross Private Domestic Investment, Capital Consumption
Allowances With Capital Consumption Adjustment, and
Net Private Domestic Investment by Major Type of Investment: Annually, 1929-74
5. 3* Gross Private Domestic Investment, Capital Consumption
Allowances with Capital Consumption Adjustment, and
Net Private Domestic Investment by Major Type of
Investment in Constant Dollars: Annually, 1929-74
5. 9
Inventories and Final Sales of Business: Seasonally Adjusted
Quarterly Totals, 1946-74
5. 10
1. 10
6. 10*
6. 11*
6. 12*
6. 13*
6. 18
7. 2*
7. 6
7. 7
7. 9
7. 11
8. 6*
8. 7*
Title
Inventories and Final Sales of Business in Constant Dollars:
Seasonally Adjusted Quarterly Totals, 1947-74
Hours Worked by Employees by Industry: Annually, 1948-74
Hours Worked by Persons Engaged in Production by Industry: Annually, 1948-74
Employer Contributions for Social Insurance by Industry:
Annually, 1948-74
Other Labor Income by Industry and by Type: Annually,
1948-74
Corporate Profits With Inventory Valuation Adjustment and
Without Capital Consumption Adjustment by Industry:
Annually, 1929-74, and Seasonally Adjusted Quarterly
Totals at Annual Rates, 1946-74
Fixed-Weighted Price Indexes for Gross National Product,
1972 Weights: Annually, 1958-74, and Quarterly Seasonally Adjusted, 1958-74
Implicit Price Deflators for the Relation of Gross National
Product, Net National Product, and National Income:
Annually, 1929-74, and Quarterly Seasonally Adjusted,
1947-74
Implicit Price Deflators for Net National Product and National
Income by Sector and Industry: Annually, 1929-74, and
Quarterly Seasonally Adjusted, 1947-74
Implicit Price Deflators for Auto Output: Annually, 1947-74,
and Quarterly Seasonally Adjusted, 1947-74
Implicit Price Deflators for Personal Consumption Expenditures by Major Type of Product: Annually, 1929-74, and
Quarterly Seasonally Adjusted, 1947-74
Relation of Nonfarm Proprietors' Income Without Inventory
Valuation and Capital Consumption Adjustments of Sole
Proprietorships and Partnerships in the National Income
and Product Accounts (NIPA's) to Corresponding Totals
as Published by the Internal Revenue Service (IRS):
Annually, 1959-72
Relation of Capital Consumption Allowances in the National
Income and Product Accounts (NIPA's) to Depreciation
and Amortization as Published by the Internal Revenue
Service (IRS): Annually, 1929-74
* Tables not included in this report.
Exhibit B.—New Items
Table
1.1
1.2
Line number
14
14
1.7
1.8
2, 5-8
2, 5-8
1.9
10, 14
1.13
13, 17, 20, 29
1.14*
10, 19, 23, 32
1.15
16, 34, 37-40
1.16
1.17
4, 5, 7, 8, 14, 15
4, 5, 7, 8, 14, 15
New items
A PDE component is added to residential investment.
Gross domestic product is added. The
nonfarm component of business GDP
is separated into manufacturing and
nonmanufacturing industries and the
latter into housing and other.
Net interest and personal interest
income are added.
Capital consumption adjustment is
added.
Capital consumption adjustment is
added.
Capital consumption adjustment is
added. Net domestic product in current and constant dollars and domestic income in constant dollars are
shown for nonfinancial corporate
business.
Gross auto product is renamed auto
output. Auto PCE, PDE, and change
in inventories are separated into new
and used.
Table
1.18*
1.19*
Line number
3, 4, 16, 20-23
3, 4, 14-17
1.22*
14
2.1
19, 20, 33
2.3
2.4
2.5*
10, 11, 15, 16
10, 11, 15, 16
10, 11, 15, 16
2.6*
65-67
3.2
5, 6, 24, 25,
27, 28, 35-37
New items
Capital consumption adjustment is
added. Cash receipts is separated into
crops and livestock, and farm income
in current dollars is shown by type of
income. Farm income and the items
that reconcile income to product in
constant dollars are added.
A PDE component is added to residential investment.
Government employee retirement benefits and aid to families with dependent
children are separated from other
transfer payments. Population is
added.
Other nondurable goods is separated
into fuel oil and coal, and other.
Household operation is separated
into electricity and gas, and other.
PCE for new autos, used autos, and
other motor vehicles are shown
separately.
Additional detail is shown for many
items.
SUEVEY OF CUEEENT BUSINESS
24
Part I January 1976
Exhibit B.—New Items—-Continued
Table
3.4
3.9*
3.11*
3.12*
3.15*
4.1
4.2*
5.1
5.4*
5.5*
5.6*
5.7*
5.8*
6.1*
6.2*
6.3*
6.4
6.5-6.9*
6.14*
6.15*
Line number
New items
9-12, 21, 27-30, Additional detail is shown for many
items.
33-37, 44-47
Fixed capital formation by government
7, 8, 19, 20
enterprises and compensation of employees engaged in force account construction are added. Capital formation in constant dollars is separated
into Federal, and State and local.
Workmen's compensation is shown
13, 17
separately.
Workmen's compensation, special un15, 24-26, 32
employment benefits, supplemental
security income, and direct relief are
shown separately.
Coverage
differences in expenditures is
14, 15, 19, 20
separated into geographic and other,
and net purchases of land into Outer
Continental Shelf and other.
Interest paid by government to for9
eigners is added.
9
Capital consumption adjustment is
7
added.
21, 29-31, 35, 36 Mining exploration, shafts, and wells for
21, 29-31, 35, 36
other than petroleum and natural gas
is added. Nonfarm new housing units
are shown by type. Farm housing is
separated into new units, and additions and alterations.
Residential PDE is added. The relation
26, 27-33
26
of PDE to purchases of new equipment is shown in current dollars.
13-18, 22-27,
The change in manufacturing, wholesale
31-36
trade, and retail trade inventories is
separated into durable and nondurable
categories.
8-14, 27-32,
GDP and selected industry detail are
81-92, 105-110,
added.
147-152, 154,
161-166, 173-176
2, 5, 14, 18, 25,
27,28
2,58
Domestic total is added. Holding and
2
other investment companies is shown
2,58
separately, except in table 6.4.
2, 17-19
Legal form of organization is added.
Services is separated into medical and
other health services and legal services.
2, 19-23
Legal form of organization is added.
Other private business is separated
into real estate and other, and real
estate into owner-occupied and other.
REVISED ESTIMATES: POSTWAR
ECONOMIC HIGHLIGHTS
The purpose of this section is to
examine whether and to what extent
the revisions suggest a new view of
Table
Line number
New items
6.16*
6,7,9, 10, 19,20,
22,23
6.17*
2, 13, 14, 16-19
6.19*
6.21*
6.22*
6.23*
2, 4, 5, 60, 75, 76
6.20*
6.24*
3, 4, 59
7.1
14
7.5
5-8
7.10*
3, 4, 14-17
7.12*
7.13*
6, 15, 36, 42, 49,
54, 59, 67, 70
18, 25-27
7.14*
26
7.15*
8.3*
2, 5, 14, 15, 18,
25, 27, 28, 31
2-10, 12-16,
18-43
82,83
8.9*
5-90
8.2*
Manufacturing is separated into durable
and nondurable, and trade, into wholesale and retail.
Domestic total is added. Trade is separated into wholesale and retail. Finance,
insurance, and real estate is separated into financial and nonfinancial.
Nonfinancial is separated into real
estate and other.
Domestic total is added. Agriculture,
forestry, and fisheries is separated
into farms and agricultural services,
forestry, and fisheries. Holding and
other investment companies and gross
income flows for rest of the world are
shown separately.
Agriculture, forestry, and fisheries is
separated into farms and agricultural
services, forestry, and fisheries. Holding and other investment companies
is shown separately.
A PDE component is added to residential investment.
Nonfarm business sector is separated
into manufacturing and nonmanufacturing. The latter is separated into
housing and other.
Cash receipts is separated into crops
and livestock. Farm income and the
items that reconcile income to product
are added.
Other category is shown for types of
products not listed separately.
Mining exploration, shafts, and wells
for other than petroleum and natural
gas is added. Nonfarm residences are
shown by type.
A PDE component is added to residential investment.
GDP and selected industry detail are
are added.
Detail by sector and legal form of
organization is expanded.
Services furnished without payment by
financial intermediaries except life
insurance carriers is separated into
services furnished to persons and
services furnished to government.
All of the major components of GNP are
shown and the fixed-weighted price
index is added for each component.
"Tables not included in this report.
postwar economic developments as depicted in the NIPA's.
Plan of the discussion.—Postwar
trends and fluctuations in GNP are
taken up first. Next, the components of
production and incomes from pro-
duction are reviewed. This is followed
by a discussion of consumer incomes,
outlays, and saving as shown in the
personal income and outlay account.
Government and foreign transactions
are not reviewed, because, even though
SURVEY OF CURRENT BUSINESS
Part I January 1976
some of the revisions in them are substantial, they do not seem to throw
much new light on broad economic
developments. The discussion closes
with a summary of how saving finances
investment as shown in the saving and
investment account. This summary
integrates some of the
discussion,
preceding
Prices are
not significantly changed by the revisions. This is brought out in chart 1,
25
Table 13.—Gross National Product: Average
Annual Rates of Increase for Selected
Periods
[Percent]
1948-74
1958-74
3.6
3.9
3.7
3.6
3.7
3.5
Previously published
6.7
7.4
8.1
Fully revised
Statistically revised
Definitionally and classiftcationally revised
- -
6 7
6.7
7.4
7.4
8.1
8.1
6.7
7.4
8.2
Previously published (1958=
100)
.-
3.0
3.4
4.3
Fully revised (1972=100)
3.1
3.6
4.5
Constant dollars
Previously
dollars)
published (1958
Fully revised (1972 dollars)
CHART 1
Gross National Product, Real Gross National Product, and Implicit
Price Deflator
1,600
L GNP
1,200
NOTE.—Rates of increase are calculated as the average
annual compounded rates from initial to terminal year.
1,000
fully Revised
Previously Published
600
500
400
300
200
1,500
REAL GNP
1,200
Constant (1972)$
1,000
800
600
500
400
300
•
•
Index (Ratio scale)
200 |
IMPLICIT PRICE DEFLATOR
150
1958=100
100
80
\
1972=100
60
I
1948
Current dollars
Implicit price deflators
Billion $ (Ratio scale)
800
1963-74
Trends in GNP and GNP
50
I
I
I
55
U.S. Department of Commerce, Bureau of Economic Analysis
212-633 O - 76 - 4
l
I
I
I
I
60
l
I
I
I
I
65
I
I
I
l
I
70
I
75
which shows the revised and previously
published current- and constant-dollar
GNP's and the associated implicit
price deflators for 1948-75. The same
conclusion is suggested by table 13, in
which average annual rates of increase
for the series shown in the chart are
calculated for the period as a whole and
for the subperiods 1958-74 and 196374. This table also shows corresponding
rates for a current-dollar GNP that
incorporates only the statistical revisions introduced in this report, and a
current-dollar GNP that incorporates
only the definitional and classificational revisions. The rates of increase of
the two partially adjusted currentdollar measures are closely similar to
those of the previously published measure. Partially adjusted measures for
constant-dollar GNP are not available.
However, the comparison of the currentdollar calculations suggests that neither
the statistical revisions nor the definitional and classificational revisions—
nor the two combined—alter the view
of U.S. economic growth as measured
by real GNP.
Because constant-dollar GNP is calculated by assigning to physical quantities weights that are proportional to
their relative prices in the valuation
period, and because in the long run
there is a negative correlation between
quantity increases and price increases
(in the sense that goods that show the
largest quantity increases tend to show
the smallest price increases), a forward
SURVEY OF CURRENT BUSINESS
26
shift in the valuation period usually
results in a lower rate of increase in
constant-dollar GNP. Accordingly, it
is somewhat puzzling that the rates of
increase of the new constant-dollar
estimates, which are based on a 1972
valuation period, are not lower than
those of the previously published ones,
which were based on a 1958 valuation
period. In the time available, it was not
possible to investigate whether the
typical relationship was inoperative
over the 1948-74 period, or whether it
was offset by other factors, such as the
improved price information (referred to
in the section on Constant-Dollar Estimates) that is used to calculate constant-dollar GNP.
Table 14.—GNP, Net National Product, and
National Income in Constant Dollars:
Average Annual Rates of Increase for
Selected Periods
[Percent]
1948-74
1958-74
1963-74
GNP
3.6
3.7
3.5
Net national product
3.5
3.6
3.4
National income
3.5
3.7
3.4
NOTE.—Measures are in 1972 dollars. Rates of increase are
calculated as the average annual compounded rates from
initial to terminal year.
Table 14 compares the annual rates
of increase of real GNP with those of
the two variants of real output introduced in this report. These are net
national product, which measures output net of capital goods used up in
production, and national income, which
values net output at factor cost instead of market price. The rates of
increase of the two new measures are
closely similar to that of GNP, with
net national product showing a slightly
lower rate. In other words, capital
consumption allowances have in general
increased somewhat faster during the
postwar period than gross investment.
As discussed below, the relationship
between gross investment and capital
consumption allowances is complex,
and an explanation of why their rates
of increase differ is not available. National income has increased a little
faster than net national product; this
implies that the 1972 incidence of
indirect business taxes has been lower
on the goods and services that increased
relatively most rapidly over the period.
Part I January 1976
Cycles
CHART 2
Table 15 shows key characteristics
of each postwar recession and recovery
as measured by the fully revised and
previously published constant-dollar
GNP. As can be seen from the table,
the duration of postwar cycles is
changed in only one instance. The
trough of the recession that followed
the first-quarter 1960 peak is shifted
back one quarter. This shortens the
recession from four to three quarters
and extends the ensuing recovery from
34 to 35 quarters. The revised GNP
generally shows less severe declines
and less vigorous recoveries than the
previously published one. Several factors, which it may be very difficult to
disentangle, are probably at work.
The use of improved price indexes to
convert current-dollar GNP into constant dollars may have mitigated the
amplitude of the fluctuations in
constant-dollar GNP. The revised
methodology for estimating CBI may
have had a similar effect. The forward
shift in the valuation period may have
resulted in the assignment of larger
weights to GNP components that are
relatively stable cyclically. More difficult to test, the tendency, mentioned
above, resulting from the negative
correlation of quantity and price increases may be visible in the short
run, even though over longer periods
it was obliterated by other factors.
This hypothesis is based on the assumption that higher rates of long-term
growth and greater cyclical amplitude
go together, and on further assumptions relating to the timing and duration of cyclical fluctuations in the
components of constant-dollar GNP.
Chart 2 examines in somewhat
greater detail the impact of the revisions
during the recent recession and ongoing recovery. The chart is in the
framework of the accounting equality
according to which GNP equals final
sales plus inventory change; no causal
influences are implied. The first panel
of the chart shows that the recession
that started in the first quarter of
1974 was somewhat less severe according to the revised estimates than
according to the previously published
ones, and that the descent to the trough
Real GNP, Change in Business
Inventories, and Final Sales:
Cumulative Changes Since 1972: IV
Billion (1972) $ *
40
I
I
I
I
I
I
I
I
I V
i
-40
1973
1974
1975
Seasonally Adjusted at Annual Rates
* Previously published estimates are converted from 1958 to 1972 dollars by
multiplying them by the reciprocal of the GNP implicit price deflator for 1958
underlying the fully revised estimates.
U.S. Department of Commerce, Bureau of Economic Analysis
76-1-:
SURVEY OF CURRENT BUSINESS
Part I January 1976
Table 15.—Postwar Cyclical Fluctuations in Constant-Dollar GNP
Timing and duration
Trough quarter
Peak quarter
Amplitude and severity
Number of quarters of decline
Percent decline
2
-1.9
-1.4
-3.7
-2.9
4
-3.4
-3.3
-3.4
-3.3
2
-3. 9
-3.3
-7.6
-6.5
4
3
-1.6
-1.2
5
-1.4
-1.1
-1.1
-.9
5
-7.8
-6.6
-6.2
-5.3
Percent decline
per quarter at
annual rate
Recessions
1948^9:
1949: II
do.
do.
1953: II
do.
1954: II
do.
do.
1957:
III
do.
1958: I
do.
do.
1960: I
do.
1961: I
1960: IV
1969:
III
do.
1970: IV
do.
do.
1973: IV
do.
1975: I
do.
do.
Previously published _ . . - 1948: IV
do.
Fully revised.
1953-54:
Previously published
Fully revised
1957-58:
Previously published
Fully revised
1960-61:
Previously published _
Fully revised -
-1.6
do.
1969-70:
Previously published
Fully revised
27
in the first quarter of 1975 was smoother.
Through the third quarter, the dimension of the subsequent recovery was
about the same, but smoother according to the revised estimates.
The middle panel of the chart shows
the impact of inventories on GNP.
Upward slopes represent situations
in which inventories are positive factors
in changes in GNP, and downward
slopes represent situations in which
they are negative factors. The chart
shows that both the positive and negative impacts of inventories on changes
in GNP are smaller according to the
revised estimates, and that they are
somewhat smoother. The last panel
suggests conclusions about final sales
that are similar.
1973-75:
Previously published
Fully revised -
Timing and duration
Trough quarter
Amplitude and strength
Number of quarPercent increase
ters of recovery Percent increase
per quarter
at annual rate
Peak quarter
Recoveries
1949-53:
1949: II
Previously published
Fully revised . - . . . .
do.
1953: II
do.
do.
29.1
28.1
16
6.6
6.4
1954-57:
Previously published
Fully revised
1954: II
do.
1957:
III
do.
do.
1958: I
do.
1960: I
do.
do.
1961: I
1960: IV
1969:
1970: IV
do.
1973: IV
do.
13
do.
13.2
3.9
do.
1958-60:
Previously published Fully revised
8
12.0
11.7
5.8
5.7
34
35
51.1
48.0
5.0
4.7
12
17.6
15.8
5.6
5.0
1961-69:
Previously published
Fully revised
III
do.
1970-73:
Previously published
Fully revised .
do.
NOTE.—Previously published constant-dollar GNP is in 1958 dollars, and fully revised constant-dollar GNP is in 1972
dollars.
Table 16.—Revised Estimates of Expenditures on Autos and Trucks, Personal Consumption
Expenditures and Producers' Durable Equipment: Selected Years, 1963-74
[Billions of dollars]
Autos
Total
New
Trucks
PCE
Used*
New
Total
PDE
Used 2
New
Used 2
New
PCE
PDE
Used1
New
Used 2
New
Used 2
1963
22.6
2.0
17.2
3.3
5.4
-1.3
4.2
0. 1
0.7
0.1
3.6
0.0
1967
26.6
2.4
20.0
4.5
6.6
-2.0
5.9
.2
1.1
.2
4.8
.0
33.9
29.6
3.0
3.1
25.2
22.1
5.4
5.7
8.7
7.5
-2.4
-2.6
9.1
8.1
.3
.3
1.7
1.5
.2
.2
7.3
6.6
1
1
42.4
46.4
39.4
4.5
5.0
4.8
32.1
34.0
27.6
7.3
8.4
8.7
10.3
12.5
11.7
-2.8
-3.4
-3.9
13.9
16.9
16.4
.4
.5
.5
3.8
4.0
3.5
.3
.4
.4
10.2
12.9
12.9
1
1
1
1969
1970
1972
1973
1974
-
1. Margins on dealers' sales of used vehicles and change in dealers' inventories of used vehicles with sign reversed.
2. Net purchases of used vehicles.
Production
PCE.—Revisions in PCE on goods
are downward, and those in PCE on
services are upward throughout the
postwar period. Except in recent years,
when the services revisions increased
rapidly, the two revisions were roughly
offsetting. Definitional and classificational revisions in goods reflect mainly
the reclassification of mobile homes and
landlords' purchases of consumer-type
durables from PCE into PDE. The
definitional and classificational revisions
in services are upward on balance. The
following increased PCE on services:
imputations that accompany the shift
of goods from PCE to PDE; revaluation
of capital consumption allowances of
nonprofit institutions, which are part
of the operating expenses of these
institutions as included in PCE; and
reclassification of the administrative
expenses of privately administered
workmen's compensation funds from
business expense to PCE. PCE on
services is lowered by the shift of
a portion of services furnished without
payment by financial intermediaries
except life insurance carriers from PCE
to government purchases.
Table 16 shows summary results of
the new methodology used in estimating
the vehicles component of PCE and
PDE. As compared with the previous
auto methodology, which assumed a
fixed percentage allocation of new cars
between PCE and PDE, and the same
SUEVEY OF CUERENT BUSINESS
28
fixed percentage for the very abbreviated treatment of used cars, the new
methodology attempts to measure
fluctuations in these flows as they actually occur. The new methodology for
trucks is similar, and replaces the previous assumption that all private purchasers of trucks are business investors.
Among the hitherto unmeasured features of the vehicle markets shown by
the table are the large PCE on trucks
and the large net flow of used cars from
business to persons.
Table 17 presents additional quarterly information on expenditures on
autos. The information in this table confirms that the several flows—PCE and
PDE, new and used—move differently
from each other. In particular, it
appears from a comparison of the percentage changes shown in the table that
PCE on autos is somewhat more stable
Table 17.—Revised Estimates of Expenditures on Autos, Personal Consumption Expenditures and Producers' Durable Equipment: Quarters, 1962—75
Percent change from preceding quarter
Billions of dollars, seasonally adjusted at annual rates
Total
New
Total
PCE
PCE and PDE
Usedi
Total
New
Used 2
PCE &
PDE
PCE
Total
New
Used 2
21.1
22.1
22.0
23.6
19.5
20.4
20.0
22.1
1.7
1.7
2.0
1.5
17.0
18.0
17.7
19.2
14.2
15.0
14.4
16.4
2.8
2.9
3.3
2.8
4.9
4.6
-.3
7.0
4.4
5.5
-1.5
8.1
4.0
5.7
-4.1
13.4
6.3
4.3
11.7
-14.9
19631 I
II
III
IV
24.1
24.5
24.4
25.2
22.3
22.7
22.0
23.4
1.8
1.8
2.4
1.8
19.8
20.6
20.6
21.1
16.7
17.4
16.9
17.9
3.1
3.2
3.7
3.2
2.0
1.6
-.1
3.1
3.6
3.7
.3
2.2
2.1
4.2
-2.7
5.4
12.4
.9
16.6
-12.5
1964' I
II
III
IV
25.8
26.1
27.6
24.5
23.6
24.1
25.6
22.0
2.2
2.0
2.0
2.5
21.7
21.9
23.0
20.6
18.1
18.5
19.6
16.9
3.6
3.4
3.4
3.7
2.5
1.0
5.6
-11.3
3.0
.8
5.1
-10.4
1.4
1.9
6.3
-13.7
11.7
-4.7
-1.2
8.4
1965: I
II
III
IV
31.1
29.9
30.3
30.3
29.2
27.5
27.5
27.7
1.9
2.4
2.8
2.5
25.6
24.8
25.4
25.4
22.1
20.9
21.1
21.3
3.5
3.9
4.3
4.1
27.0
-3.9
1.6
-.2
24.2
-3.3
2.7
-.2
30.6
-5.6
1.2
.6
-5.1
10.8
10.7
-4.2
1966' I
II
III
IV
32 1
28.6
29.3
29.5
29.6
26.2
27.1
27.5
2.5
2.5
2.2
2.0
27.0
24.0
24.8
24.6
22.7
19.9
20.9
20.6
4.2
4.1
3.9
4.0
6.1
-10.8
2.2
.7
6.3
-10.9
3.0
-.5
6.8
-12.5
5.2
-1.4
3.4
-2.3
-7.1
4.3
1967: I
II
III
IV _
27.1
30.1
29.8
29.3
24.8
28.0
27.3
26.4
2.3
2.1
2.5
2.9
22.9
25.5
25.0
24.6
18.8
21.2
20.4
19.8
4.1
4.3
4.7
4.9
-7.9
11.0
-1.3
-1.5
-7.2
11.4
-1.7
-1.6
-8.9
12.7
-3.8
-2.9
1.4
5.2
8.6
4.4
1968' I
II
III
IV
33.8
34.4
36.8
36.9
31.4
• 31.8
33.8
34.0
2.4
2.6
3.0
2.9
28.4
28.8
30.5
30.5
23.8
24.1
25.3
25.3
4.6
4.8
5.2
5.2
15.3
2.0
6.8
.4
15.3
1.5
5.9
.0
20.5
1.0
5.3
.0
-5.9
4.0
8.7
.2
1969: I- .-II
III
IV
37.2
36.8
37.2
36.6
34.1
33.8
34.3
33.5
3.2
2.9
2.9
3.0
31.0
30.4
30.8
30.5
25.6
25.1
25.4
24.9
5.4
5.3
5.4
5.6
.9
-1.2
1.2
-1.8
1.5
-1.9
1.4
-1.1
1.1
-2.1
1.3
-1.9
3.6
-.9
1.6
2.7
1970' I
II
III
IV
33.6
34.9
34.5
27.8
30.8
32.1
31.8
23.8
2.8
2.8
2.7
3.9
28.4
29.5
29.3
24.0
23.0
23.7
23.7
18.1
5.4
5.9
5.5
5.9
-8.2
3.9
-1.1
-19.5
-6.8
4.1
-.9
-18.0
-7.6
2.9
.2
-23.7
-3.2
9.1
-5.3
6.6
1971: I
II
III
IV
40.7
41.2
42.2
43.8
37.7
37.3
38.3
39.6
3.0
3.9
3.9
4.2
33.7
34.5
34.9
36.7
27.9
28.0
28.2
29.9
5.8
6.6
6.7
6.8
46.5
1.4
2.4
3.7
40.2
2.5
1.2
5.0
54.0
.3
.9
5.9
-1.9
13.1
2.8
1.1
1972: I. ...
II
III
IV
44.5
45.9
47.2
50.2
39.7
41.4
42.8
45.8
4.8
4.5
4.5
4.5
37.7
38.8
39.5
41.7
30.3
31.6
32.3
34.3
7.4
7.3
7.2
7.4
1.7
3.3
2.8
6.4
2.7
3.0
1.7
5.5
1.4
4.2
2.3
6.2
8.1
-1.7
-.8
2.5
1973: I
II
III
IV .
54.2
53.7
51.7
46.0
49.4
49.0
46.6
40.6
4.8
4.7
5.0
5.4
45.4
44.5
42.4
37.2
37.2
36.4
34.0
28.3
8.2
8.2
8.4
8.9
7.9
-1.0
-3.8
-11.0
8.9
-1.9
-4.8
-12.3
8.5
-2.3
-6.6
-16.8
10.7
.0
3.3
5.8
1974: I
II
III
IV _
42.8
44.6
50.0
39.2
38.7
39.5
45.4
33.9
4.0
5.1
4.6
5.3
35.1
37.1
40.8
32.4
27.9
28.1
31.3
23.3
7.2
9.0
9.5
9.1
-7.0
4.2
12.2
-21.6
-5.6
5.7
10.0
-20.6
-1.2
.6
11.5
-25.6
-19.5
25.5
5.6
-3.9
1975: I
II
III
41.6
43.2
50.0
38.3
39.0
46.1
3.3
4.2
3.9
33.7
34.5
39.4
27.4
26.9
31.0
6.2
7.6
8.4
6.1
3.9
15.8
3.9
2.4
14.1
17.9
-2.0
15.4
-31.7
22.1
9.6
1962: I
II
III
IV
..
1. Margins on sales of used autos and change in dealers' inventories of used autos with sign reversed.
2. Net purchases of used autos.
Part I January 1976
than PDE expenditures on autos, and
that PCE on used autos is more stable
than PCE on new autos.
Fixed investment.—Revisions in gross
private nonresidential fixed investment
are negligible, although there are large,
offsetting revisions in the components.
Statistical downward revisions in PDE
are offset by upward revisions in structures. In residential investment, there
are large progressive upward revisions
of a statistical nature. These revisions
are reinforced by the definitional and
classificational revisions, which are the
counterparts of the reclassifications that
were discussed immediately above.
Table 18 shows an array of average
annual rates of increase for gross
private domestic fixed investment and
its components. The revisions in residential investment result in substantially higher current-dollar rates than
those indicated by the previously
published estimates. The rates of increase of nonresidential investment are
essentially unchanged and, because of
the large weight of nonresidential
investment, so are the rates of total
fixed investment. The higher residential rates of increase carry through to
the constant-dollar rates. The constantdollar rates of increase of structures—
residential and nonresidential—are
affected also by the introduction of
improved price indexes to derive
constant-dollar estimates. Reflecting
this improvement, the rates of increase of constant-dollar total fixed
investment are generally revised
upward.
Table 19 compares rates of increase
of gross and net fixed investment.
This comparison has become possible
because of the introduction of economic measures of capital consumption.
The rates shown in the table differ
widely from each other. They do not
follow any obvious pattern except that
the current-dollar rates are higher than
the corresponding constant-dollar ones.
The absence of an obvious pattern is
not surprising, because the relationships that determine the rates of
increase of the net measures are unusually complex. Most immediately,
differences among them are due to
differences between changes in gross
SURVEY OF CURRENT BUSINESS
Part I January 1976
Chart 3 summarizes some of the
investment and changes in the corresponding capital consumption allow- information on the revisions in nonances. Changes in the latter, in turn, residential and residential investment.
depend on the underlying capital stocks; The fact that the ratio of nonresidential
in turn, these are the combined result of investment to GNP based on the prepast investment and its durability. viously published estimates departs
Another factor that can influence the in some years from that based on the
rates is shifts among capital stocks of revised estimates is due largely to
unequal durability. It is clear from revisions in the GNP denominator.
these considerations that a detailed The chart also shows that the revisions
historical study of each type of invest- do not significantly change the postwar
ment would have to be undertaken to cyclical patterns of nonresidential and
provide an adequate explanation of its residential investment.
CBL—Chart 4 shows inventory
rate of increase. Only a few of the most
stocks
and final sales of GNP in conobvious factors can be discerned in
the absence of such studies. For stant dollars, as well as the ratio of
instance, the striking rate of increase the two, on a fully revised and previously
of net investment in PDE in the 1958- published basis. The new stocks-sales
74 period reflects the recovery of in- ratio is lower, because in 1972 the
vestment in PDE from a deep cyclical average price of final sales was higher
relative to the average price of inventrough in 1958.
Table 18.—Gross Private Domestic Fixed Investment: Average Annual Rates of Increase for
Selected Periods
29
CHART 3
Gross Private Domestic Fixed
Investment as a Percentage of Gross
National Product
Percent
17
TOTAL
15
13
—
Fully Revised
Statistically Revised
Previously Published
12
t i l l
i
i
I
I
I I I
12
[Percent]
NONRESIDENTIAL
1948-74
1958-74
1963-74
Constant dollars
Total:
Previously published
Fully revised
_
_
_ _ _ _ _ _ _ ___
___ __
___
2.9
3.2
4.1
4.2
4.0
3.6
3.5
3.6
5.2
4.9
5.6
5.1
3.0
3.3
2.9
3.0
3.5
3.0
-- - _ -
3.8
3.7
6.4
6.2
6.5
6.4
__ ___
1.1
2.1
.9
2.4
o
.3
6.2
6 3
7.4
7.5
8.3
8.3
Statisticallv revised
Definitionally and classificationally revised
6.3
6.2
7.5
7.4
8.2
8.4
Nonresidential:
Previously published
Fully revised
Statistically revised __
Definitionally and classificationally revised
6.8
6.9
6.9
6.8
8.3
8.3
8.2
8.3
9.6
9.7
9.6
9.6
7 1
7.2
7.2
7.1
7.4
7.7
7.6
7.4
9.3
9.7
9.7
9.3
6.7
6.7
6.7
6.7
8.8
8.6
8.4
8.8
9.8
9.6
9.6
9.8
4.6
5.1
4.9
4.8
5.3
5.9
5.9
5.6
5.0
5.4
4.9
5.5
Nonresidential:
Previously published
Fully revised
_
-
__-
Structures:
Previously published
Fully revised
_
Producers' durable equipment:
Previously published
Fully revised
Residential:
Previously published
Fully revised
_ _
_
-
_ _
-
-
__
__ __
10
RESIDENTIAL
Current dollars
Total:
Previously published
Fully revised
Structures:
Previously published
_ _ __ _
Fully revised
Statistically revised
Definitionally and classificationally revised
Producers' durable equipment:
Previously published
Fully revised
Statistically revised _ _
Definitionally and classificationally revised
Residential:
Previously published
Fully revised
.._ ._
Statistically re vised _
Definitionally and classificationallv revised
-
_
- ___
_-
.
...
NOTE.—Previously published constant-dollar estimates are in 1958 dollars; fully revised constant-dollar estimates are in
1972 dollars. Rates of increase are calculated as the average annual compounded rates from initial to terminal year.
1958
62
66
U.S. Department of Commerce, Bureau of Economic Analysis
70
75
76-1-3
SURVEY OF CURRENT BUSINESS
30
Part I January 1976
tory stocks than it was in 1958. From fourth quarter of 1974 was somewhat
the standpoint of judging whether less according to the revised estimates.
stocks are in balance relative to sales, Revisions in inventories and in final
this level difference is irrelevant. Ab- sales accounted about equally for the
stracting from it, the chart shows smaller increase in the stocks-sales ratio.
that the increase in stocks-sales ratios The extent of the subsequent decline
from the first quarter of 1973 to the through the third quarter of 1975 was
about the same according to both
estimates.
Table 19.—Gross and Net Private Domestic Fixed Investment: Average Annual Rates of
Increase for Selected Periods
Table 20.—Gross Product of Corporate
Business as a Percentage of GNP: 1948-74
Incomes from production
Statistical revisions show that employee compensation has been stronger
since the mid-1960's, and particularly
[Percent]
1948-74
1958-74
Fully
revised
1963-74
1948
1949
Constant (1972) dollars
Gross private domestic fixed investment -
-
3.2
4.2
36
Nonresidential
Structures
Producers' durable equipment
Residential
36
3.3
37
v I
4
3
6
2
9
0
2
4
51
30
6 4
3
Net private domestic fixed investment
15
4 2
16
1.9
3.4
12
.8
7 3
2.3
18 1
10
Nonresidential . . . _ . . . _ .
Structures.. ..
Producers' durable equipment
Residential
-
. ...
. ...
- -
- --
5
2
9
—2
6
0
5
7
Current dollars
Gross private domestic fixed investment
Nonresidential
.
... ..
Structures
._
.. ... . .. _.
... ...
Producers' durable equipment
Residential
. ..
..
--....
Net private domestic fixed investment-
.
Nonresidential
..
Structures
Producers' durable equipment
Residential
..
...
6.3
7.5
8.3
6.9
7.2
6 7
5. 1
83
7.6
86
5 9
9 7
9.7
9 6
5 4
4.7
8.2
7.2
5 3
7.9
39
3.7
...
11 8
8.0
20 6
4 6
11 2
10.5
12 0
2 7
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
..
..
. ...
. ..
.
.
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
. .
.
... ..
.
-
Previously
published
54 9
53.9
55 1
53 9
55 1
54.8
54.6
55 4
54.7
55 3
55.0
54.7
55 6
54 9
56.5
57.3
57 0
55.2
57.2
56.6
57.4
57 2
55.3
57.1
57.5
57.1
57.8
58.2
58.8
56.9
56.2
56.6
56.7
57.1
59.6
59.9
59.7
60.3
60.9
57.6
57.6
56.8
57.0
56.9
60.3
60.0
60.5
60.7
60.7
56.1
55.6
56.0
55.7
55.1
NOTE.—Rates of increase are calculated as the average annual compounded rates from initial to terminal year.
Table 21.—Percent Composition of Gross Domestic Product of Nonfinancial Corporate Business: 1948-74
Previously published
Fully revised
Compensation
of employees
Profits with
inventory
valuation and
capital
consumption
adjustments
Net
interest
Indirect
business tax
and nontax
liability 1
Capital
consumption
allowances
with capital
consumption
adjustment
Compensation
of employees
Profits with
inventory
valuation
adjustment
Net
interest
Indirect
business tax
and nontax
liability 1
Capital
consumption
allowances
64.0
63.9
18.8
17.2
0.6
.7
8.8
9.5
7.8
8.7
63.9
63.8
21.6
20.1
0.6
.7
8.8
9.5
5.0
5.9
62.4
63.2
64.9
66.0
65.9
19.5
19.1
16.6
15.3
14.9
.6
.6
.7
.7
.8
9.3
8.7
9.2
9.3
9.1
8.3
8.4
8.6
8.7
9.3
62.4
63.1
64.8
66.0
65.9
22.1
21.8
19.1
17.4
16.6
.6
.6
.7
.7
.8
9.3
8.7
9.2
9.3
9.1
5.7
5.8
6.2
6.6
7.7
63.9
65.4
65.7
65.9
64.6
17.6
15.6
14.4
12.7
14.9
.7
.7
.9
1.1
1.2
8.9
9.0
9.2
9.6
9.5
8.9
9.3
9.8
10.6
9.8
63.9
65.3
65.6
65.9
64.7
18.6
16.9
15.8
14.2
16.2
.7
.8
.9
1.1
1.0
8.9
9.0
9.2
9.7
9.3
7.9
8.0
8.4
9.1
8.7
1960
1961
1962
1963
1964
65.3
65.1
64.3
63.7
63.3
13.5
13.2
14.4
15.1
15.9
1.2
.4
.5
.5
.5
10.2
10.6
10.6
10.8
10.7
9.7
9.8
9.2
9.0
8.7
65.5
65.1
64.3
63.9
63.3
14.8
14.5
14.9
15.2
16.0
.1
.3
.4
.4
.5
9.7
10.0
9.8
9.8
9.8
8.9
9.2
9.7
9.7
9.5
1965
1966
1967
1968
1969
62.7
63.5
64.4
64.5
66.0
16.9
16.5
14.8
14.5
12.3
.5
.7
.9
2.0
2.4
10.5
10.0
10.1
10.3
10.5
8.4
8.3
8.7
8.6
8.8
62.6
63.2
64.0
64.2
65.7
l/.O
16.8
15.1
14.7
12.5
.6
.8
2.1
2. 2
2^5
9.5
8.9
9.1
9.3
9.3
9.4
9.3
9.7
9.7
9.9
67.3
66.3
66.1
66.8
68.0
9.2
9.7
10.7
10.1
7.8
3.0
3.0
2.8
3.3
3.9
11.0
11.3
11.0
10.7
10.6
9.5
9.7
9.3
9.1
9.7
66.9
66.0
65.9
66.4
67.4
9.8
10.5
11.3
11.4
10.3
3.1
3.0
2.9
3.0
3.1
9.8
10.0
9.6
9.3
9.2
10.4
10.5
10.4
9.9
10.0
1948
1949
1950
1951
1952
1953
1954
.
1955
1956
1957.
1958
1959
..
1970
1971
1972
1973.
1974.. .
.
1. Plus business transfer payments less subsidies.
SURVEY OF CURRENT BUSINESS
Part I January 1976
beginning in 1973, and that corporate
profits have been much weaker beginning in the same year. The major source
of the upward revision of employee
compensation is new UI data on wages
and salaries. The downward revision
in corporate profits is due mainly to the
incorporation of IRS data for 1973.
These revisions largely account for
the poorer showing beginning in 1972
of the statistically revised than of the
previously published ratio of corporate
profits to national income (chart 5).
The poorer showing of the ratio in some
earlier years is due to lower estimates of
profits discovered by audit and a more
adequate accounting for foreign trading
losses of U.S.-based multinational
petroleum corporations.
Definitional revisions also affect corporate profits. Most important among
these is the introduction of economic
capital consumption, which has two
elements. The first element is the
adjustment of the service lives and
depreciation formulas that underlie
profits reported for tax purposes to a
consistent basis. Inasmuch as tax reported depreciation charges reflect historical cost, this adjustment results
in a consistent series based on historical
cost. It raises corporate profits throughout the postwar period, and largely
reflects the reduction of tax reported
profits by the liberalization of depreciation charges in 1954, 1962, and 1971.
The second element is the adjustment
of the historical cost series to replace-
CHART 4
Inventory Stocks, GNP Final Sales, and Stocks-Final Sales Ratios
Billions of Constant $ (Ratio scale)
350
300
31
ment cost. This adjustment reduces
profits in all years, and more than offsets the influence of the first adjustment from 1948 to 1961 and again in
1974. Another factor affecting profits,
especially important since the late
1960's, is the reclassification of dividends received by noninsured pension
funds from interest into dividends; this
reclassification reduces profits and its
dividends component.
The effects of statistical and definitional and classificational revisions
on undistributed corporate profits—a
measure that is often useful in financial
analysis—are brought out in chart 6.
This chart is in terms of undistributed
corporate profits with IVA, the variant
of undistributed profits that came
closest to an economic measure in the
previously published estimates. The
effect of the introduction of economic
capital consumption on corporate profits
carries through to its undistributed
profits component, and so do the major
STOCKS
250
CHART 5
200
Corporate Profits as a Percentage of
National Income
Fully Revised (1972) $
Previously Published (1958) $
150
Percent
15
100
14
1,400
1,200
FINAL SALES
13
1,000
12
800
600
10
400
Ratio
—
.350
STOCKS-FINAL SALES RATIOS
Fully Revised
Statistically Revised
Previously Published
.
.300
.250
I
I
I
I
I
I
I
I
I I
1
I
I
I
I
I
.200
1958
1958
60
65
Note.-Stocks are seasonally adjusted and final sales are at seasonally adjusted annual rates.
U.S. Department of Commerce, Bureau of Economic Analysis
70
75
76-1-4
60
62
64
66
68
70
72
74
NOTE.-The measure shown is corporate profits before tax with inventory
valuation and capital consumption adjustments.
U.S. Department of Commerce, Bureau of Economic Analysis
i
32
statistical revisions in the profits total.
As a result, undistributed profits is
lowered in the postwar period through
1961, raised from 1962 through 1972,
and lowered again in 1973 and 1974.
Gross corporate product.—As mentioned in the section on Statistical
Revisions, in connection with compensation of employees and net interest,
the corporate share of these incomes is
revised upward. This upward revision
is reflected in gross product of corporate
SUKVEY OF CURRENT BUSINESS
Part I January 1976
business, and the share that corporate
product is of GNP. As can be seen from
table 20, the corporate share of GNP
was much higher in 1974 than in 1958
according to the revised estimates;
according to the previously published
estimates it was about the same. The
percent composition of gross domestic
product of nonfinancial corporate business is shown in table 21. The table
shows that the decline in profits relative to compensation of employees was
sharp since 1972—appreciably sharper
than in the previously published estimates. It also shows that the relative
decline in profits and interest combined
was smaller. The latter difference is due
to the large increase in corporate interest payments shown by the revised
estimates for 1973 and 1974. On the
basis of the information now available,
it is impossible to judge whether this
increase is an erratic element, or
whether it is indicative of a persistent
tendency for changes in the two nonlabor components of income originating
in corporate business to offset each
other.
CHART 6
Undistributed Corporate Profits With Inventory Valuation Adjustment
Billion $
30
FULLY REVISED
20
10
-10 hi
30
1958
60
U.S. Department of Commerce, Bureau of Economic Analysis
Personal income, outlays, and saving
Until 1971, statistical revisions in
personal income are small, with upward
revisions in wages and salaries, and in
rental income of persons almost offset
by downward revisions in proprietors'
income and interest income. Beginning
in 1971, and particularly in 1974, there
are large upward revisions, mainly due
to wages and salaries. Definitional and
classificational revisions are consistently
downward—large downward revisions
in rental income of persons more than
offsetting upward revisions in some
other items. These revisions in rental
income are due to the introduction of
economic capital consumption. There
are at least two reasons why the
introduction of economic capital consumption has a much larger impact on
this income than on other profit-type
incomes. First, the adjustment to
consistent accounting for service lives
and depreciation formulas, which partly
offset the effect of the revaluation to a
replacement cost basis, is not applicable to rental income of persons. Second,
because the service lives of residential
structures are much longer than those
of PDE, the excess of replacement cost
over historical cost in times of rising
prices is much larger for residential
structures than for the mix of capital
goods used by business.
Inasmuch as revisions in personal
taxes and in consumer outlays other
than PCE are generally small, the
revisions in personal income and PCE
largely explain the revisions in saving
as a percentage of disposable personal
Part I January 1976
income (chart 7). As can be seen from
the chart, the statistical revisions
generally raise the saving rate. The
definitional and classificational revisions
lower it substantially throughout the
period, because, in effect, they convert
large amounts of net saving into
capital consumption allowances.
Saving and investment
Some of the discussion has dealt with
new information on the various types
of saving that are the ultimate sources
of the finance of investment. The points
that were made are integrated below
by reference to the several saving entries in the gross savings and investment
account.
Two definitional and classificational
revisions have major impacts on the
saving entries. The first is the reclassification of mobile homes and of consumer
type durables purchased by landlords
from PCE into investment. This reclassification necessarily increases capital consumption allowances. Its effect
on net saving, that is, saving after allowance for the consumption of fixed
capital, depends on whether the magnitude of the items reclassified exceeds
or falls short of capital consumption
on the stocks of these items. In practice, gross investment in these items has
generally exceeded capital consumption
in the period covered by the NIPA's,
and net saving is increased as a result
of the reclassification.
The other definitional and classificational revision that affects the entries
in the gross saving and investment
account is the introduction of economic
capital consumption, which has two
elements. The first element—the introduction of consistent service lives and
depreciation formulas—affects corporate profits, as noted above, and proprietor's income. The upward revisions
in these incomes carry through to undistributed corporate profits and personal saving. The second element—the
introduction of replacement cost valuation—affects not only corporate profits
and proprietors' income but also rental
income of persons. It reduced these
incomes, and this reduction also carries
through to undistributed corporate
profits and personal saving. The net
effect of the two elements is to lower
SURVEY OF CUREENT BUSINESS
personal saving throughout the postwar
period; the net effect on undistributed
corporate profits is the same as on corporate profits (explained above). These
effects on net saving are offset by opposite effects on capital consumption'
allowances.
These points are brought out in table
22. The "total" column of the table
sums the definitional and classification
revisions in the several saving categories. The remaining sections of the
table show these revisions separately for
each. Where applicable, the revisions
33
are further subdivided into those stemming from the introduction of economic
capital consumption and from the reclassification of mobile homes and
landlords' purchases of consumer-type
durables. (The "other" column for
undistributed corporate profits consists
of some definitional changes that are
not germane to the subject under
discussion—for instance, the changed
treatment of the loss carryback on
Federal corporate income taxes.) As
just demonstrated, the effect of the
introduction of economic capital conCHART 7
Personal Saving Rate
Percent
PREVIOUSLY PUBLISHED
1958
60
65
Note.-Personal saving rate equals personal saving as a percentage of disposable personal income.
U.S. Department of Commerce, Bureau of Economic Analysis
75
SUEVEY OF CURRENT BUSINESS
34
sumption on undistributed corporate
profits and personal saving is exactly
offset by its effect on capital consumption allowances. The effect of the
reclassification of PCE items into
investment is the sum of the capital
consumption allowances, undistributed
profits, and personal saving entries.
The last two measure the amount by
which gross investment on the reclassified items exceeds the capital
consumption allowances on their stocks.
The effects of the major statistical
revisions in income and product flows
on undistributed corporate profits and
personal saving are shown in table 23.
In the last three years, these revisions
result in reductions in undistributed
corporate profits and in closely similar
increases in personal saving. The table
also shows that a major factor in the
former is the downward revision in
corporate profits, and the major factor
in the latter is the upward revision
in wages and salaries and other labor
income.
DEFINITIONS OF NIPA ENTRIES
Income and product aggregates are
defined below, and their definitions are
amplified by definitions of their components. Aspects of the aggregates and
their components that are not apparent
from their titles are emphasized. The
definitions provided in earlier national
income and product (NIP) reports are
reformulated to take into account the
revisions introduced in this report and
also, in many instances, to make the
definitions more useful.
Part I January 1976
The definitions are presented in the
framework of the five-account summary
of the national income and product accounts (NIPA's) shown above in table
A. Entries in a given account have counterentries in another. The parenthetical
numbers that follow entries identify
these counterentries by account and
line number. In general, entries are defined below in the sequence in which
they appear in the accounts. Their
definition is not repeated when the
counterentries appear, but a crossreference is made to the place of their
first appearance. The definitions of
GNP, national income, and some other
production aggregates can be found in
the first two sections below, which define the entries in the NIP account.
Definitions of personal income and disposable personal income can be found
Table 22.—Definitional and Classificational Revisions in Gross Saving: 1958-74
[Billions of dollars]
Capital consumption allowances *
Total
1958
1959
1960
1961
1962
1963
1964
.
....
1965
1966
1967
1968
1969
..
1970
1971
1972
1973
1974
Personal saving l
Undistributed corporate profits with
inventory valuation adjustment 1
Introduction of
economic capital
consumption
Reclassification
into investment
Introduction of
economic capital
consumption
Reclassification
into investment
Other
Introduction of
economic capital
consumption
Reclassification
into investment
1.0
1.2
6.3
5.9
0.7
.7
-3.4
-2.9
0.0
.0
0.1
-.1
-2.9
-3.0
0.4
.5
.1
.1
.2
.3
.5
5.3
4.8
1.6
.5
-.4
.7
.8
.8
.8
.9
-2.3
-1.8
1.2
2.1
2.8
.0
.0
.0
.0
.0
.1
.1
.1
-.1
-.3
-3.0
-3.0
-2.8
-2.5
-2.4
.4
.3
.4
.5
.7
1.8
1.8
2.0
2.6
3.3
-1.2
-1.3
-1.0
.4
2.3
.9
1.0
1.0
1.1
1.3
3.8
3.9
3.7
3.7
3.5
.0
.0
.0
.0
-.4
-.6
-.9
-.8
-.2
25
-2.6
-2. 7
-4.1
-5.9
.8
.8
.9
1.5
2.0
3.5
4.4
5.4
6.0
5.0
5.4
7.1
3.8
7.0
14.0
1.4
1.5
1.7
1.9
2.1
1.5
.3
2.5
1.6
2 3
.2
-.5
.3
.1
-.8
-6.9
-7.3
-6.4
-8.6
-11.7
2.1
2.9
3.6
3.8
2.5
1. As defined in the previously published estimates.
.1
.1
.1
'.2
.3
Government
surplus or
deficit (-),
NIPA's i. 2
-0.
2. Includes wage accruals less disbursements and capital grants received by the United
States (net).
Table 23.—Statistical Revisions in Gross Saving: 1972-74
[Billions of dollars]
Personal saving
Undistributed corporate profits with
inventory valuation adjustment
Disposable personal income
Total
Capital
consumption allowances
Personal income
Undi stributed profits
Total
Total
Total
IVA
Total
After
tax
profits
Dividends
Total
Wage
and
salary
disbursements
Other
labor
income
Other
Personal
tax and
nontax
payments
Government
surplus or
deficit
Personal
outlays
(-),
NIPA's
1972
-1.9
-3.1
-0.4
0.4
-0.8
-1.4
-0.4
5.0
4.9
5.6
1.5
-2.3
-0.1
5.4
2.0
1973
-.6
-2.7
-3.5
-.9
-2.7
-2.0
.6
3.1
7.5
8.5
7.8
2.8
-2.1
1.0
4.4
2.6
1974
-.5
-1.6
-6.9
-3.5
-3.5
-2.5
.9
6.1
14.5
16.1
10.8
4.2
1.1
1.6
8.4
2.0
-0.6
Part I January 1976
in the section that defines the entries
in the personal income and outlay
account.
SUEVEY OF CUERENT BUSINESS
used goods, and excludes sales and purchases of land and financial assets.
NIP account: gross national product
NIP account: charges against gross
national product
GNP is the market value of the goods
and services produced by labor and
property supplied by residents of the
United States, before deduction of depreciation charges and other allowances
for business and institutional consumption of fixed capital goods. Other products charged to expense by business are
deducted. GNP comprises the purchases of goods and services by persons
and government, gross private domestic
investment (including the change in
business inventories), and net exports
(exports less imports).
Personal consumption expenditures
(1-26) is goods and services purchased
by individuals, operating expenses of
nonprofit institutions, and the value of
food, fuel, clothing, rent of dwellings,
and financial services received in kind
by individuals. Net purchases of used
goods are also included. All private purchases of dwellings are classified as gross
private domestic investment.
Gross private domestic investment (130) is fixed capital goods purchased by
private business and nonprofit institutions, and the value of the change in
the physical volume of inventories held
by private business. The former include
all private purchases of dwellings,
whether purchased for tenant or owner
occupancy. Net purchases of used goods
are also included.
Net exports oj goods and services (1-38
and 1-39) is exports less imports of
goods and services. Exports are part of
national production. Imports are not,
but are included in the components of
GNP, and are therefore deducted. There
are differences between the NIPA measures of exports and imports and those
in the detailed balance of payments
accounts.
Government purchases of goods and
services (1-40) is the compensation of
government employees and purchases
from business and from abroad. It excludes transfer payments, interest paid
by government, and subsidies. It includes gross investment by government
enterprises, but excludes their current
outlays. It includes net purchases of
Charges against GNP is the costs
incurred and the profits earned in the
production of GNP. Accordingly, it
equals GNP, except for the statistical
discrepancy. In the NIPA's, these
charges are arranged in two groups.
The first of these—compensation of
employees, proprietors' income, rental
income of persons, corporate profits,
and net interest—are factor charges,
because they represent the incomes of
the factors of production (labor and
property). The total of factor incomes
is called the national income. The
second group consists of nonfactor
charges. Addition of business transfers,
indirect business taxes, and current
surplus of government enterprises less
subsidies—which are included in this
group—to national income equals
charges against net national product
(and net national product). Addition
of capital consumption allowances—
the remaining item in the nonfactor
cost group—to charges against net
national product equals, in principle,
charges against GNP (and GNP). In
practice, a statistical discrepancy is
also entered to secure balance between
GNP and the factor and nonfactor
charges against it.
The aggregates that have been enumerated so far differ from each other
because of distinctions that are made
between market value and factor cost
concepts, and gross and net concepts.
GNP as derived above is a gross market value measure; national income is a
net factor cost measure; and net national product is a net market value
measure. One further basic distinction
can be made in defining the value of
production. This is the distinction between domestic measures and national
measures. The former denote the production attributable to labor and property located in a country; the latter
denote the production attributable to
labor and property supplied by residents of a country. The national measures exceed the domestic measures by
the net inflow of labor and property
incomes from abroad. In principle,
35
eight measures of production can be
derived from these three distinctions.
In practice, only some of them are used.
In the United States, the following have
been found most useful: GNP, which
has already been defined, and gross
domestic product, net national product,
and national income, which are defined
below.
Gross domestic product is the market
value of the goods and services produced by labor and property located in
the United States. It equals GNP less
the net inflow of labor and property
incomes from abroad.
Net national product is the net market
value of the goods and services produced by labor and property supplied
by residents of the United States.
Net national product equals GNP less
capital consumption allowances, which
are deducted from gross private domestic fixed investment to express it on a
net basis.
National income is the incomes that
originate in the production of goods and
services attributable to labor and property supplied by residents of the United
States. Thus, it measures the factor
costs of the goods and services produced.
Incomes are recorded in the forms in
which they accrue to residents, and are
measured before deduction of taxes on
those incomes. They consist of the compensation of employees, proprietors'
income, rental income of persons, corporate profits, and net interest.
Compensation of employees is the
income accruing to employees as remuneration for their work. It is the sum of
wages and salaries and supplements to
wages and salaries.
Wages and salaries consists of the
monetary remuneration of employees,
including the compensation of corporate
officers; commissions, tips, and bonuses;
and receipts in kind that represent
income to the recipients. It consists of
disbursements (1-3) and wage accruals
less disbursements (1-4). Disbursements
is wages and salaries as just defined
except that retroactive wages are
counted when paid rather than when
earned.
Supplements to wages and salaries
consists of employer contributions for
social insurance and of other labor
income. Employer contributions for social
36
insurance (1-6) includes employer payments under the following programs:
Federal old-age, survivors, disability,
and hospital insurance; State unemployment insurance; railroad retirement
and unemployment insurance; government retirement; and publicly administered workmen's compensation. Other
labor income (1-7) includes employer
contributions to private pension and
welfare funds, and directors' fees.
Proprietors' income with inventory
valuation and capital consumption adjustments (1-8) is the monetary income
and income in kind of sole proprietorships and partnerships, including the
independent professions, and of producers' cooperatives. Interest and
dividend income received by proprietors, and rental incomes received by
persons who are not primarily engaged
in the real estate business are excluded.
The inventory valuation adjustment is
described under corporate profits and
the capital consumption adjustment,
under capital consumption allowances.
Rental income oj persons with capital
consumption adjustment (1-9) is the
monetary income of persons from the
rental of real property, except the
income of persons primarily engaged in
the real estate business; the imputed
net rental income of owner-occupants
of nonfarm dwellings; and the royalties
received by persons from patents, copyrights, and rights to natural resources.
The capital consumption adjustment is
described under capital consumption
allowances.
Corporate profits with inventory valuation and capital consumption adjustments
is the income of corporations organized
for profit and of mutual financial institutions that accrues to residents,
measured before profits taxes, before
deduction of depletion charges, after
exclusion of capital gains and losses,
and net of dividends received from
domestic corporations. In addition to
profits earned in domestic operations,
corporate profits includes net receipts
of dividends and branch profits from
abroad. In other major respects, profits
are defined in accordance with Federal
income tax regulations. The capital
consumption adjustment is described
under capital consumption allowances.
SUEVEY OF CURRENT BUSINESS
Profits before tax is corporate profits
without inventory valuation and capital
consumption adjustments.
Profits tax liability (1-12) is
Federal, State, and local taxes on
corporate income.
Profits after tax is profits before tax
less profits tax liability. Dividends
(1-14) is cash dividends paid by corporations organized for profit to stockholders who are U.S. persons. Undistributed profits (1-15) is corporate
profits before tax less corporate profits
tax liability and less dividends. It
equals the change in corporate net
worth stemming from current operations. It may also be viewed as the sum
of purchases of fixed assets, the change
in the book value of corporate inventories, and the net acquisition of
financial assets, less the sum of capital
consumption allowances, net borrowing,
and net stock issues.
Inventory valuation adjustment (116) is the change in the business inventories component of GNP (CBI), which
is measured as the change in the physical volume of inventories valued in
prices of the current period, less the
change in the value of inventories
reported by business (book value).
The IVA is required because, according
to the inventory accounting methods
used by business, the change in book
values generally differs from the CBI.
Measurement of inventory change as
physical volume change valued in prices
of the current period conforms its treatment to that of all other components of
GNP. An alternative definition of the
IVA as the excess of the replacement
cost of inventories used up over their
historical acquisition cost is often helpful. That this definition is equivalent to
the definition stated above follows from
the fact that, according to all methods
of inventory valuation used by business,
inventory purchases in an accounting
period are reflected in book values in
the prices of that accounting period.
To make the measurement of charges
against GNP consistent with GNP, the
IVA must be applied to reported corporate profits and proprietors' income,
because these are based on the same
accounting methods that underlie the
book value of inventories.
Part I January 1976
Net interest (1-18) is interest paid by
domestic business less interest received
by it, plus net interest received from
abroad. In addition to monetary interest flows, net interest includes flows
of interest in kind (imputed interest).
The latter have their counterparts in
similar service charges. The portion of
the imputed interest flows that is allocated to consumers and government
is a component of net interest and the
associated service charges are included
in PCE and government purchases.
Business transfer payments (1-20)
includes corporate gifts to nonprofit institutions and bad debts incurred by
consumers. Most of PCE is stated
before deduction of consumer bad
debts; corporate profits and proprietors' income are stated after allowance for bad debts. Accordingly,
bad debts have to be entered explicitly
among the charges against GNP. They
are entered as a component of business
transfer payments because, like gifts,
they fit into the general category of
transfer payments, which are defined
as payments to persons for which the
latter do not perform current services.
Indirect business tax and nontax
liability (1-21) consists of tax liabilities
(except employer contributions for
social insurance) that are chargeable to
business expense in the calculation of
profit-type incomes, and of certain
other business liabilities to general
government that it is convenient to
treat like taxes. Indirect business taxes
includes sales, excise, and property
taxes. Taxes on corporate income are
excluded because such taxes cannot
be calculated until profits are known,
and in that sense, are not a business
expense. Nontaxes includes regulatory
and inspection fees, special assessments, fines and penalties, rents and
royalties, and donations. Nontaxes
generally excludes business purchases
from government of goods and services
that are similar to business purchases
of intermediate products from other
businesses. Government receipts from
the sale of such products are netted
against government purchases so that
they do not appear in GNP and other
measures of production.
Part I January 1976
Subsidies less current surplus oj government enterprises (1-22). Subsidies is
the monetary grants paid by government to business, including government enterprises at another level of
government. The current surplus oj
government enterprises is their sales
receipts less their current outlays. In
the calculation of their current surplus, no deduction is made for depreciation charges and net interest paid.
Subsidies and current surplus are often
combined because government enterprises may incur deficits by selling
goods to businesses at lower than market prices in lieu of giving them subsidies. This is also the major reason for
not counting the current surplus of
government enterprises as a profit-type
income and, accordingly, as part of
factor charges.
Statistical discrepancy (1-23) is GNP
less charges against GNP other than
the statistical discrepancy. It arises
because GNP and charges against
GNP are estimated independently by
a methodology that is subject to error.
Capital consumption allowances with
capital consumption adjustment (1-25).
Capital consumption allowances consists of depreciation charges and accidental damage to fixed business capital. For nonfarm business, they are as
reported on Federal income tax returns.
For farms, nonprofit institutions, and
owner-occupied houses, depreciation
charges are not based on income tax
returns, but instead are NIP calculations. Capital consumption adjustment
(1-17) is the tax return-based capital
consumption allowances less capital
consumption allowances that are based
on estimates of economic service lives,
straight-line depreciation, and replacement cost.
SUEVEY OF CURRENT BUSINESS
by individuals. Life insurance carriers
and private noninsured pension funds
are not counted as persons, but their
saving is credited to persons. Personal
income is the sum of wage and salary
disbursements, other labor income, proprietors' income, rental income of persons,
dividends, personal interest income,
and transfer payments, less personal
contributions for social insurance.
Disposable personal income is personal
income less personal tax and nontax
payments. It is the income available
to persons for spending or saving.
Wage and salary disbursements (see
1-3).
Other labor income (see 1-7).
Proprietors' income with inventory
valuation and capita! consumption adjustments (see 1-8).
Rental income of persons with capital
consumption adjustment (see 1-9).
Dividends (see 1-14).
Personal interest income is the interest
income of persons from all sources.
It is the sum of net interest (see 118), plus interest paid by government
to persons and business (2-14) less
interest paid to government (2-15) plus
interest paid by consumers to business
(2-16). The last item consists of all
interest paid by individuals in their
capacity as consumers, and accordingly
excludes interest payments on mortgages and home improvement loans,
because homeowners are treated as
businesses in the NIPA's. The derivation of personal interest income can be
explained as follows. Net interest equals
interest paid by producers (that is,
business and U.S. residents supplying labor and property services to
abroad) to persons and government less
interest received by producers from
consumers and government. It therefore falls short of interest received by
Personal income and outlay account
persons from producers by the amount
Personal income is the income re- of interest received by producers from
ceived by persons from all sources, consumers and government, and exthat is, from participation in produc- ceeds interest received by persons from
tion, from transfer payments from producers by the amount of interest
government and business, and from paid by producers to government.
government interest, which is treated Accordingly, the former is added to
like a transfer payment. Persons con- net interest, and the latter is deducted,
sist of individuals, nonprofit institutions, to obtain personal interest income.
private noninsured welfare funds, and
Transfer payments to persons is inprivate trust funds. Proprietors' income come payments to persons, generally in
is treated in its entiretv as received monetary form, for which they do not
37
render current services. It consists of
business transfer payments (see 1-20)
and government transfer
payments
(2-19). Government transfer payments
include payments under the following
programs: Federal old-age, survivors,
disability, and hospital insurance; supplementary medical insurance; State
unemployment insurance; railroad retirement and unemployment insurance;
government retirement; workmen's
compensation; veterans, including veterans life insurance; food stamp; black
lung; supplemental security income;
and direct relief. Government payments to nonprofit institutions, other
than for work under research and development contracts, is also included.
Personal contributions for social insurance (2-20) includes payments by
employees, self-employed, and other
individuals who participate in the
following programs: Federal old-age,
survivors, disability, and hospital insurance; supplementary medical insurance; State unemployment insurance;
railroad retirement insurance; government retirement; and veterans life
insurance.
Personal tax and nontax payments
(2-1) is tax payments (net of refunds)
by persons (except personal contributions for social insurance) that are
not chargeable to business expense,
and of certain other personal payments
to general government that it is
convenient to treat like taxes. Personal
taxes includes income, estate and gift,
and personal property taxes. Nontaxes
includes passport fees, fines and penalties, donations, and tuitions and fees
paid to schools and hospitals operated
mainly by government. Nontaxes generally excludes purchases by persons
from government of goods and services
that are similar to goods and services
purchased by persons from business.
Personal outlays is personal consumption expenditures (see 1-26), interest
paid by consumers to business (see
2-16), and personal transfer payments
to foreigners, net (2-5). The last item
is personal remittances in cash and in
kind to abroad less such remittances
from abroad.
Personal saving (2-6) is personal
income less the sum of personal outlays
and personal tax and nontax payments.
SURVEY OF CURRENT BUSINESS
38
It is the current saving of individuals
(including proprietors), nonprofit institutions, private noninsured welfare
funds, and private trust funds. Personal
saving equals the change in the net
worth of persons, which may also be
viewed as the sum of net acquisition
of financial assets (such as cash and
deposits, securities, and the net equity
of individuals in life insurance and in
private noninsured pension funds) and
physical assets less the sum of net
borrowing and of capital consumption
allowances.
Government receipts
tures account
and
expendi-
Personal tax and nontax payments
(see 2-1).
Corporate profits tax liability (see
1-12).
Indirect business tax and nontax
liability (see 1-21).
Contributions for social insurance (see
1-6 and 2-20).
Purchases of goods and services (see
1-40).
Transfer payments is transfer payments to persons (see 2-19) and transfer payments to foreigners, net (3-4).
The latter is U.S. Government nonmilitary grants to foreign governments
in cash and in kind, and of U.S. Government transfer payments, mainly retirement benefits, to former residents of
the United States.
Net interest paid is interest paid by
government less interest paid to government (see 2-15). The former is interest
paid to persons and business (see 2-14)
and interest paid to foreigners (3-8).
Interest paid to foreigners is interest
paid by the U.S. Government to foreign
businesses, governments, and persons.
Subsidies less current surplus of government enterprises (see 1-22).
Wage accruals less disbursements (see
(1-4).
Surplus or deficit (—), national income and product accounts (3-12) is
government expenditures less government receipts as defined in the NIPA's.
It may also be viewed as the net
acquisition of financial assets by general
government and government enterprises, and net government purchases
of land and of rights to Governmentowned land including oil resources.
Foreign transactions account
Imports of goods and services (see
1-39).
Transfer payments to foreigners (see
2-5 and 3-4).
Interest paid by government to foreigners (see 3-8).
Net foreign investment (4-8) is U.S.
exports of goods and services and
capital grants received by the United
States, net (see below), less imports of
goods and services by the United
Part I January 1976
States, transfer payments to foreigners
(net), and U.S. Government interest
paid to foreigners. It may also be
viewed as the acquisition of foreign
assets by U.S. residents less the acquisition of U.S. assets by foreign residents.
It includes the errors and omissions
item in the detailed balance of payments accounts.
Exports of goods and services (see
1-38).
Capital grants received by the United
States, net (4-2) is mainly the allocation
of special drawing rights to the United
States.
Gross saving and investment account
Personal saving (see 2-6).
Wage accruals less disbursements (see
1-4).
Undistributed corporate profits with
inventory valuation and capital consumption adjustments (see 1-15, 1-16,
and 1-17).
Capital consumption allowances with
capital consumption adjustment (see
1-25).
Government surplus or deficit (—),
national income and product accounts
(see 3-12).
Capital grants received by the United
States, net (see 4-2).
Statistical discrepancy (see 1-23).
Gross private domestic investment (see
1-30).
Net foreign investment (see 4-8).
SUEVEY OF CUKRENT BUSINESS
I'art I January 1976
39
NATIONAL INCOME AND PRODUCT TABLES
1974
1974
1975 p
III
1975
IV
I
II
1974
III
IV P
1974
1975 p
III
1975
IV
Seasonally adjusted at annual rates
I
II
III
IV P
Seasonally adjusted at annual rates
Billions of current dollars
Billions of 1972 dollars
Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
Gross national product
-
1,406.9 1,499.0 1,424.4 1,441.3 1,433.6 1,460.6 1,528.5 1,573.2 1,210.7 1,186.4 1, 210. 2 1,186.8 1,158.6 1, 168. 1 1,201.5
- -
Personal consumption expenditures
Durable goods
Nondurable goods
Services
-
-
Gross private domestic investment
Fixed investment
Nonresidential
Structures
- Producers' durable equipment
Residential
Nonfarm structures
Farm structures - - - Producers' durable equipment
Change in business inventories
Nonfarm
- . -Farm
- -
-
Net exports of goods and services
Exports
Imports
-
-- -
- -
--
- -
Government purchases of goods and services
Federal
National defense
Nondefense
State and local _
...
..
..
1,217.4
885.9
963.2
907.7
908.4
926.4
950.3
977.4
998.7
759.8
766.6
767.2
748.9
752.3
764.1
771.6
778.2
121.9
375.7
388.3
127.7
410.0
425.5
128.9
383.9
394.9
117.3
387.1
404.0
118.9
394.1
413.4
123.8
404.8
421.6
131.8
416.4
429.2
136.1
424.8
437.7
112.5
303.0
344.4
109.3
306.9
350.4
116.8
304.7
345.7
102.9
298.9
347.2
104.0
300.8
347.5
106.5
306.9
350.8
112.3
308.0
351.2
114.5
311.8
351. 9
212.2
183.3
207.6
210.3
168.7
161.4
194.9
208.3
180.0
138.9
173.2
166.9
129.7
124.1
147.8
153.9
202.5
147.9
54.4
93.5
54.6
52.2
1.0
1.3
197.5
148.7
52.6
96.1
48.8
46.9
.6
1.3
203.1
199.8
151.1
148.1
56.1
54.0
94.1
95.0
1
55.0 ; 48.7
52.7 46.3
.9
1.2
1.4
1.3
193.5
149.3
54.9
94.4
44.2
42.6
.4
1.2
191.1
146.1
51.1
95.0
45.0
43.1
.5
1.3
197.1
146.7
51.2
95.6
50.4
48.2
.8
1.4
208.4
152.7
53.4
99.3
55.7
53.5
.7
1.4
172.2
127.5
42.7
84.9
44.7
42.6
.8
1.3
149.0
112.4
37.1
75.3
36.6
35.0
.4
1.2
169.0
125.0
40.6
84.4
44.1
42.0
.7
1.3
159.3
120.8
40.5
80.3
38.5
36.4
.9
1.2
148.7
115.2
38.9
76.3
33.6
32.3
.3
1.0
144.8
110. 8
36.2
74.7
34.0
32.4
.4
1.1
148.7
110.6
36.2
74.5
38.0
36.2
.6
1.2
153.7
113.0
37.3
75.7
40.7
38.9
.5
1.2
9 7
11.6
-1.9
-14.2
-16.1
1.9
-24.8
-23.3
-1.5
-29.6
-29.6
-.1
-2.1
-5.7
3.6
-.2
-5.7
5.5
7.7
8.5
-.8
-10.1
-11.3
1.2
4.2
5.6
-1.4
7.6
9.0
-1.5
-19.0
-17.9
-1.2
-20.7
-20.6
i
-.8
-3.3
2.5
.2
-3.5
3.7
4.4
7.6
-3.2
10.4
13.7
-3.2
7.7
21.5
3.2
8.2
17.3
24.2
22.1
22.4
16.6
23.5
15.1
17.4
21.5
24.9
23.5
24.3
144.2
136.5
147.3
125.8
148.6
145.5
153.6
145.3
148.2
130.9
140.7
116.4
148.5
126.4
151.9
129.4
97.6
81.0
90.4
66.9
96.9
81.9
95.7
78.3
90.7
69.2
86.8
62.0
90.8
67.3
93.4
69.1
301.1
330.9
305.9
314.4
321.2
324.7
334.1
343.8
254.3
257.4
254.7
253.6
255.1
254.9
258.7
261.1
111.7
77.4
34.3
189.4
123.1
84.0
39.2
207.8
113.6
78.4
35.1
192.3
118.2
80.5
37.7
196.3
119.4
81.4
38.0
201.9
119.2
82.1
37.1
205.5
124.2
84.9
39.3
209.9
129.8
87.4
42.3
214.1
95.0
94.2
95.7
94.7
93.7
92.4
94. 9
95.9
159.3
163.2
159.0
158.9
161.4
162.5
163.8
165.2
Table 2. — Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
Gross national product
Final sales _.
Change in business inventories
Goods .
.
._
.
1,406.9 1,499.0 1,424.4 1,441.3 1, 433. 6 1, 460. 6 1,528.5 1,573.2 1,210.7 1, 186. 4 1,210.2 1, 186. 8 1, 158. 6 1, 168. 1 1,201.5
1,217.4
1,397.2 1, 513. 2 1, 420. 0 1, 430. 9 1, 458. 4 1, 490. 2 1, 530. 6 1, 573. 4 1, 203. 0 1, 196. 5 1, 206. 0 1, 179. 3 1, 177. 6 1, 188. 7 1, 202. 4
4.4
-.8
9.7 -14.2
10.4 -24.8 -29.6
—.2
4.2
-2.1
7.7 -10.1
7.6 -19.0 -20.7
1,217.2
.2
636.3
677.3
644.6
647.7
635.4
653.9
698.9
720.9
549.9
531.1
552.4
531.9
510.1
518.4
542.7
553. 3
Final sales
Change in business inventories
626.5
9.7
691.5
-14.2
640.2
4.4
637.3
10.4
660.2
-24.8
683.5
-29.6
701.1
-2.1
721.1
-.2
542.2
7.7
541.2
-10.1
548.2
4.2
524.4
7.6
529.2
-19.0
539.0
-20.7
543.5
-.8
553.1
2
Durable goods
Final sales
Change in business inventories. .
246.1
238.5
7.5
251.0
261. 9
-10. 9
251.7
245.8
5.9
254.1
239.3
14.9
229.2
243.8
-14.6
243.3
258.8
-15.5
261.9
267.5
-5.6
269.6
277.4
-7.8
223.5
217.7
5.8
203.7
211.7
-8.0
226.0
221.6
4.4
215.9
205.2
10.7
191.6
203.4
-11.7
198.2
209.7
-11.5
210.7
214.3
-3.7
214.4
219.3
-4.9
Nondurable goods . . . _ Final sales
Change in business inventories
390.2
388.0
2.2
426.3
429.6
-3.3
393.0
394.4
-1.4
393.6
398.0
-4.4
406.2
416.4
-10.2
410.6
424.7
-14.1
437.0
433.5
3.5
451.3
443.7
7.7
326.5
324.5
1.9
327.4
329.5
-2.1
326.4
326.6
-.2
316.1
319.2
-3.1
318.5
325.8
-7.3
320.2
329.4
-9.2
332.0
329.2
2.8
338.9
333.8
5.1
Services
624.1
680.6
632.5
649.7
659.3
672.0
688.1
702.7
544.7
553.9
545.1
548.1
548. 1
552.5
556.7
558.2
Structures
146.6
14L1
147.2
143. 9
138. 9
134. 6
141.4
149.fi
llfi. 1
101.4
112.7
106.8
100.4
97.2
102.2
106.0
1 406 9 1 499 0 1 424 4 1 441 3 1 433 6 1 460 6 1 528 5 1 573 2 1 210 7 1 186 4 1 210 2 1 186 8 1 158 6 1 168 1 1,201.5
1,217.4
1 392 5 1 488 5 1 410 6 1 426 6 1 424 0 1 450 6 1 516 9 1 562 6 1 203 7 1 181 6 1 204 6 1 180 3 1 154 3 1 163.5 1, 196. 1
1 186 6 1 262 7 1 203 1 1 913 2 1 205 5 1 227 4 1 289 9 1 328 7 1 024 4 997 3 1 024 7 1 000 1 979 1 979 5 1,011.1
1,138 7 1 217 3 1 155 6 1 161 7 1 162 9 1 191 3 1 237 5
965.8 939.6 954.3 977.1
993 5 965 9
991 8
45 i
45 g
45 i
54 4
35 i
36.5
32.3
31 9
35 0
48 5
31 0
50 1
31 5
48 6
55 0
24
—.6
29
—4 6
—3 2
—8 9
—3 2
-7.1 -2.5
2.4
-2.6
2.0
—.5
-3.7
1,212.6
Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product
Gross domestic product
Business Nonfarm..
_
Farm
Statistical discrepancy
Residual 1
Households and institutions
Government
Federal . _
State and localRest of the world
.. ..
44 8
49 5
45 6
46 5
47 5
50 2
51 6
38 5
39 2
38 8
38 4
38 8
39.2
36.8
39.4
39.5
161 1
54 7
106 4
176 3
58 8
117 4
161 9
54 3
107 6
166 9
56 9
110 0
170 9
57 6
113 3
174 5
58 1
116 4
177 4
58 6
118 8
182 3
61 1
121 2
140 8
47 9
()2 9
145 1
47 8
97 3
141 1
48 0
93 1
141 8
47 9
94 0
143 5
47 9
95.7
144.8
47.8
97.0
145.7
47.8
97.8
146.3
47.7
98.7
14.4
10.5
13 7
14 8
96
10 0
11 6
10 6
7 0
4.8
5.6
6.5
4.3
4.5
5.4
4.9
* Preliminary.
1. Equals GNP in constant dollars measured as the sum of final products less GNP in
constant dollars measured as the sum of gross product by industry.
NOTE.—Final sales is classified as durable or nondurable by type of product. Change in
48 7
1, 026. 8
business inventories is classified as follows: for manufacturing, by the type of product produced by the establishment holding the inventory; for trade, by the type of product sold by the
establishment holding the inventory; for construction, durable; and for other industries,
nondurable.
40
SURVEY OF CUERENT BUSINESS
Part I January 1976
Table 4.—Net National Product and National Income by Sector in Current and Constant Dollars (1.11, 1.12)
1974
1974
1975 P
III
1975
IV
I
11
1974
III
IV v
1974
1975 v
III
IV
Seasonally adjusted at annual rates
Net national product
Business
Nonfarm
Farm
Statistical1 discrepancy
Residual
Households and institutions
Government
Rest of the world
National income
Domestic income
Business
Nonfarm
Farm
I
II
III
IV"
Seasonally adjusted at annual rates
Billions of current dollars
Net domestic product
1975
Billions of 1972 dollars
1,272.9 1,346.4 1,288.3 1,299.3 1, 288. 2 1,311.1 1,373.8 1,412.7 1, 094. 0 1,064.2 1,092.8 1, 067. 6 1, 038. 5 1, 046. 8 1,078.6
1, 092. 7
1, 258. 5 1, 336. 0 1, 274. 6 1,284.5 1,278.6 1,301.1 1, 362. 1 1,402.1 1, 087. 0 1, 059. 4 1, 087. 2 1,061.2 1, 034. 3 1, 042. 3 1,073.2
1,087.8
1, 052. 5 1,110.2 1, 067. 0 1,071.1 1, 060. 2 1, 078. 0 1, 134. 5 1, 168. 2
907.7
875.1
907.3
880.9
852.0
858.2
888.2
902.0
1,014.7 1, 075. 5 1, 029. 6 1, 030. 0 1, 028. 0 1, 052. 4 1, 093. 5
35.0
38.2
39. 3
35.3
34.5
44.2 """43.' 4~
38.5
884.8
23.5
851.7
27.0
882.4
22.9
854.8
23.7
827.6
26. 9
841 2
24.2
862 3
28.4
28.6
-.5
38.5
140.8
-3.7
39.2
145.1
2.0
38.8
141.1
2.4
38.4
141.8
-2.6
38.8
143.5
-7.1
39.2
144.8
-2.5
39.4
145.7
39.5
146.3
4.9
-.6
-4.6
2.4
2.9
-3.2
-8.9
-3.2
44.8
161.1
49.5
176.3
45.6
161. 9
46.5
166. 9
47.5
170.9
48.7
174.5
50.2
177.4
51.6
182.3
14.4
10.5
13.7
14.8
9.6
10.0
11.6
10.6
7.0
4.8
5.6
6.5
4.3
4.5
5.4
1, 141. 1 1, 209. 5 1,151.3 1,161.3 1. 155. 2 1, 180. 8 1,232.5
977.4
949.8
973.5
948.5
924.7
935.9
962.7
1, 126. 7 1, 199. 0 1, 137. 5 1,146.5 1, 145. 6 1,170.8 1, 220. 9
970.4
945.0
967.9
942.0
920.4
931.4
957.3
920.8
973.3
930.0
933.1
927.1
947.6
993. 3
791.0
760.7
788.0
761.7
738.1
747.3
772.3
884.0
36.7
936.5
36.8
897. 0
33.0
896.9
36.2
894.2
32.9
915.7
31.9
951. 7
41.5
766.1
25.0
732.1
28.6
763.6
24.3
736.6
25.2
709. 4
28.7
721.6
25.7
742.3
30.0 "~~30.~6
40.8
44.8
49.5
45.6
46.5
47.5
48.7
50.2
51.6
38.5
39.2
38.8
38.4
38.8
39.2
39.4
39.5
Government
161.1
176.3
161.9
166.9
170.9
174.5
177.4
182.3
140.8
145.1
141.1
141.8
143.5
144.8
145.7
146.3
Rest of the world
14.4
10.5
13.7
14.8
9.6
10.0
11.6
10.6
7.0
4.8
5.6
6.5
4.3
4.5
5.4
4.9
Households and institutions
Table 5.—Auto Output in Current and Constant Dollars (1.16, 1.17)
Auto output
Final sales
Personal consumption expenditures
New autos
Net purchases of used autos - _ .._ .
Producers' durable equipment
New autos
Net purchases of used autos _ _ Net exports _ . . . - _
_ __ _ Exports
Imports
Government purchases of goods and services
Change in inventories of new and used autos
New
Used
Addenda:
Domestic output of new autos 2. . .
Sales of imported new autos 3
42.9
42.1
44.4
45.4
50.0
47.6
40.6
38.5
34.6
40.7
42.5
43.0
53.0
48.5
47.6
49.6
40.2
39.6
39.5
40.3
45.6
43.7
36.1
33.8
32.1
37.3
38.0
38.1
46.5
42.8
41.4
43.3
36.4
27.6
8.7
7 8
11. 7
-3.9
-2.7
4.6
7 3
.6
36.9
29.3
7.6
9.4
13.2
-3.8
-1.6
5.6
7 2
.7
40.8
31.3
9.5
9.2
14.1
-4.9
-3.0
4.8
7 8
.6
32.4
23.3
9.1
6.8
10.6
-3.8
-1.3
5.3
6 6
.6
33.7
27.4
6.2
7.9
10.8
-3.0
-1.5
4. 7
6 2
.6
34.5
26.9
7.6
8. 7
12.2
-3.4
-.9
5.2
6 2
.7
39.4
31.0
8.4
10.7
15.1
-4.5
-2.2
5.8
80
.7
40.1
31.7
8 3
10.4
14.6
-4.2
-1.6
6.6
8 2
.7
33.4
26.2
7.2
7.5
11.1
-3.6
-1.8
4.3
6 9
.5
31.5
25.5
6.0
8.8
11.5
-2.7
-.5
4.8
5 3
.6
36.5
29.1
7.4
8.8
13.0
-4.2
-2.1
4.4
6 5
.5
27.6
20.9
6.7
6.4
9.5
-3.1
-.7
4.7
5 4
.5
?9. 9
24.5
5.4
7.5
9.7
-2.2
-.6
4.2
4 7
.5
29. 5
23.5
6.1
8.0
10.6
-2.6
.0
4.6
4 6
.5
33.2
26.9
6.3
10.0
13.1
-3.1
-1.0
5.0
6.0
.6
33.4
27.1
6.2
9. €
12. c
2 <•
•
5.£
5. £
.8
-1.0
2.4
2.2
-6.1
— .4
4.5
-2.0
.6
-.8
1.9
2.4
-5.2
.0
3.7
-l.<
.8
.0
—1 5
.5
1.5
.8
2.5
—6 5
.4
-6
3.7
.8
—2.8
.8
.6
.0
—1 2
.4
1.2
.7
2.6
-.3
— 5. 5
.3
2
.1
3.2
.5
9
35.4
9 0
36.9
10 6
39.9
10 4
35.3
8 3
27.5
10 9
34.7
10 8
45.6
10 3
39.6
10 6
33.4
8.5
32.1
9 3
37.0
9.6
31.7
7.4
24.7
9. 7
30.4
9.4
39. 5
8.9
33. *
9.
0
Table 6.—Personal Consumption Expenditures by Major Type of Product in Current and Constant Dollars (2.3, 2.4)
Personal consumption expenditures
Durable goods
. .
Motor vehicles and parts
-.
Furniture and household equipment
Other
. .
Nondurable goods
Food
Clothing a n d shoes.
Gasoline and oil
Fuel oil and coal
Other
..
_ . _ _ _ - .
.
_ __
.
885.9
963.2
907.7
908.4
926.4
950.3
977.4
998.7
759.8
766.6
767.2
748. 9
752.3
764.1
771.6
778.2
121.9
127.7
128.9
117.3
118.9
123.8
131.8
136.1
112.5
109.3
116.8
102.9
104.0
106.5
112.3
114.5
48.0
54.7
19.3
49.0
57.5
21.2
53.5
55 9
19.6
43.6
54.3
19.4
44.6
54.1
20.2
46.1
57 0
20.8
52.1
58 3
21.4
53.2
60.6
22.3
44.4
50.5
17.6
42.1
49.3
17.9
48.3
50.9
17.6
37.7
48.2
17.0
39.6
47.1
17.3
39. 8
49.1
17.6
44.4
49.9
18.0
44.7
51.2
18.6
375 7
410 0
383 9
387 1
394 1
404 8
416 4
424 8
303 0
306,9
304.7
298,9
300.8
306.9
308.0
311.8
189.4
65.2
36.4
9.5
75 2
209.4
69.9
40.1
10.1
80 5
193 2
66.5
38 2
9.9
76 1
197 4
64.8
38 8
9.8
76 1
202 8
66. 7
38 1
9 4
77 1
206
69
39
10
79
6
0
6
1
5
211 4
71.3
41 2
11.1
81 5
216 9
72.6
41.6
10.0
83 8
147.1
59.0
24.6
5.2
67 0
150.5
61.2
25.8
5.1
64 3
149.1
59.2
25.0
5.2
66 3
146.4
57.1
26.5
5.1
63 8
148.2
58.7
26.1
5.0
62.8
150.7
60.9
26.3
5.3
63.7
150.2
62.1
25.4
5.5
64.8
152.9
62.9
25.^
4.7
65.8
388 3
125 5
394 9
404 0
413 4
421 6
429 2
437 7
344 4
350 4
345 7
347 2
347 5
350.8
351.2
351.9
Housing _
Household operation
Electricity and gas
Other
136.0
56.4
24 0
32.3
148.8
63.5
29 0
34.5
137 4
57.9
25 0
32 9
140 7
59.2
26 2
33 0
143 9
60.6
27 3
33 3
147
63
28
34
0
1
9
2
150 2
64.7
29 8
35 0
154.0
65.5
30 1
35 5
122 8
48.4
19 7
28 8
127 4
49.5
20 6
28 9
123 3
48.9
20 0
28 8
124.3
48.8
20 2
28.6
125. 5
48.7
20.3
28.5
126. 9
49.9
20.9
28.9
128.0
49.9
20.8
29.2
129.3
49.5
20.5
29.0
Transportation
Other
30 9
165.0
34 0
179.2
31 4
168.2
32 1
172.0
33 0
175. 9
33 5
177. 9
34 2
180.1
35 1
183. 0
28 5
144.7
28 3
145.1
28 6
145.0
28 3
145.8
28.4
144. 9
28.3
145.8
28.2
145.1
28.4
144.7
Services
^ Preliminary.
1. Equals GNP in constant dollars measured as the sum of final products less GNP in
constant dollars measured as the sum of gross product by industry.
2. Final sales and change in inventories of new autos produced in the United States.
3. Consists of personal consumption expenditures, producers' durable equipment, and
government purchases.
Part I January 1976
41
SURVEY OF CURRENT BUSINESS
Table 7.—Inventories and Final Sales of Business in Current and Constant Dollars (5.9, 5.10)
1974
1974
1975
1974
1974
1975
III
II
I
IV
III
III
IV P
-
Billions of 1972 dollars
422.3
412.6
413.1
423.7
428.7
299.3
301.1
296.4
291.2
291.0
291.1
57.6
364.8
54,7
357.9
60.3
352.8
64.1
359.7
63.8
364.9
41.8
257.5
41.4
259.7
41.2
255.2
41.1
250.1
41.8
249.3
42.7
248.4
197.3
155.6
205.4
159.3
203.0
154. 9
199.4
153.4
202.0
157.6
203.5
161.5
148.8
108.6
151.5
108.2
148.6
106.7
145.7
104.4
144.8
104.5
143.6
104.8
-
Wholesale trade
Durable goods
Nondurable goods
--- - - - - --- - -
Durable goods
Nondurable goods
Nonfarin
181.6
188.6
186.6
183.6
186.1
189.0
127.8
129.5
128.8
126, 4
125.1
124. 9
117.3
64.3
121.2
67.4
121.6
65.0
119.9
63.6
120.2
65.9
120.7
68.3
85.2
42.5
86.3
43.2
86.4
42.4
85.2
41.2
83.6
41.5
82.7
42.2
64.6
66.3
65.1
63.8
65.1
65.8
47.7
48.1
47.2
45.8
45.6
44.9
37.0
27.6
38.6
27.7
38.8
26.3
38.1
25.7
38.4
26.7
38.8
27.0
29.0
18.8
29.5
18.6
29.4
17.8
28.8
17.0
28.4
17.2
28.1
16.8
74.6
76.5
73.3
72.4
75.3
76.5
59.1
59.2
56.6
55.5
56.4
56.4
32.6
42.0
35.1
41.4
32.5
40.8
31.6
40.8
33.4
41.9
33.6
42.9
26.8
32.3
27.9
31.3
25.4
31.3
24.6
30.9
25.5
30.9
25.3
31.1
32.2
33.4
32.9
33.0
33.1
22.6
22.3
33.6
22.8
22.9
22.1
22.2
1, 198. 7 1, 202. 7 1,230.4 1,257.0 1, 291. 4 1,328.9
1, 020. 6
992.5
991.1 1,000.1 1,012.0
1, 026. 6
1, 148. 0 1, 148. 0 1, 186. 2 1,220.8 1, 243. 2 1, 283. 2
986. 2
956.8
957. 5
974. 9
980.5
996.0
.293
.261
.303
.271
.299
.267
.291
.257
.288
.254
.284
.249
Other
Final sales ~
.345
.307
Ratio of inventories to final sales
Nonfarm
.351
.318
.335
.302
Table 8.—Relation of Gross National Product, Net National Product
National Income, and Personal Income (1.9)
1974
1974
.329
.289
.328
.289
.323
.284
Table 9.—Relation of Gross National Product, Net National Product
and National Income in Constant Dollars (1.10)
1974
1975
I
IV
II
III
1974
IV P
1975 *>
1,406.9 1,499.0 1,424.4 1,441.3 1,433.6 1,460.6 1,528.5 1,573.2
152.5
136.1
142.1
145.4
149.5
154.7
160.5
Equals: Net national product. _ 1,272.9 1,346.4 1,288.3 1,299.3 1,288.2 1,311.1 1,373.8 1,412.7
Less: Indirect business tax
and nontax liability
Business transfer payments
Statistical discrepancy _ _
Plus: Subsidies less current
surplus of government
enterprises
Equals: National income
Less: Corporate profits with
inventory valuation
and capital consumption adjustments
Net interest
Contributions for social
insurance
Wage accruals less disbursements
Plus: Government
transfer
payments to persons, _
Personal interest income.
Dividends
Business transfer payments
Equals: Personal income
127.3
137.2
129.6
129.5
131.6
135.2
140.0
141.8
5.8
-.6
6.3
-4.6
5.9
2.4
6.0
2.9
6.2
-3.2
6.3
-8.9
6.4
-3.2
6.5
Gross national product
Less: Capital consumption allowances with capital
consumption adjustin ent
1.9
.9
.4
1.6
I
II
III
IV P
2.2
1.9
1.9
1,141.1 1,209.5 1,151.3 1,161.3 1,155.2 1,180.8 1,232.5
1,210.7 1, 186. 4 1,210.2 1, 186. 8 1, 158. 6 1, 168. 1 1,201.5 1,217.4
116 7
122. 2
117.4
119.2
120.0
121.2
123.0
124.8
Equals: Net national product- _ _ 1094. 0 1064. 2 1092. 8 1067. 6 1038. 5 1046. 8 1078. 6 1092. 7
Less: Indirect business taxes
plus transfer payments
less subsidies plus current surplus of government enterprises.
Residual 3
.7
IV
Billions of 1972 dollars
Billions of dollars
134.0
III
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Less: Capital consumption allowances with capital consumption adjustment
1975
1975 P
III
Gross national product
IV P
61.0
353.0
Manufacturing
Retail trade
III
413.9
Durable goods
Nondruable goods
Durable goods
Nondurable goods
II
Seasonally adjusted at annual rates
Billions of current dollars
Inventories 1
I
IV
Seasonally adjusted at annual rates
Farm
Nonfarm
1975
1975
Equals: National income
117.2
118.1
117.3
116.8
116. 4
118.1
118.4
-.5
-3.7
2.0
2.4
-2.6
-7.1
-2.5
977.4
949.8
973.5
948.5
924.7
935.9
962.7
119.4
p Preliminary.
1. End-of-period stocks valued in constant dollars.
2. Quarterly totals at annual rates.
3. Equals GNP in constant dollars measured as the sum of final products less GNP in constant dollars measured as the sum of gross product by industry.
91.3
102.1
89.2
82.0
78.9
96.6
113.1
70.7
81.6
72.7
76.7
78.7
79.7
82.2
85.7
102.9
108.3
104.4
105.0
106.0
106.6
108.9
111.7
-.5
.0
-1.5
.0
.0
.0
.0
.0
134.5
106.5
31.1
168.7
120.7
32.8
138.4
109.1
31.7
145.5
114. 0
31.7
157.7
116.0
32.1
169.4
117.6
32.6
172.4
121.2
33.5
175.2
127.8
33.1
5.8
6.3
5.9
6.0
6.2
6.3
6.4
6.5
1,154.7 1,246.0 1,171.6 1,194.8 1,203.6 1,223.8 1,261.7 1,294.8
NOTE.—Inventories are classified as durable or nondurable as follows: for manufacturing,
by the type of product produced by the establishment holding the inventory; for trade by
the type of product sold by the establishment holding the inventory; for construction, durable;
and for other nonfarm industries, nondurable.
SURVEY OF CURRENT BUSINESS
42
1974
1975 P
1974
III
Part I January 1976
1975
I
IV
II
1974
III
IV p
1974
1975 P
Seaso nally adjusted at annual rates
I
II
III
IV r>
Billions of dollars
Table 12.—Gross Domestic Product of Corporate Business (1.15)
Table 10.—National Income by Type of Income (1.13)
1,141.1 1,209.5 1,151.3 1,161.3 1,155.2 1,180.8 1,232.5
National income
873.0 921.4 886.3 898.1 897.1 905.4 928.2 954.9
Compensation of employees
787.6 807.3 830.5
763.1 801.6 774.3 783.6 781.0
Wages and salaries
603.0 627.2 613.6 617.7 611.7 615.0 631.9 650.3
Private
23.0
23.0
Military .
22.9
22.8
22.3
21.9
23.6
22.8
146.4 149.7 152.6 156.6
137.7 151.3 138.8 143.0
Government civilian
Supplements to wages and
116. 1 117.8 120.9 124.4
salaries
. .' ...
110.0 119.8 112.0 114.4
Employer contributions
58.5
56.9
57.1
57.5
56.4
for social insurance .
55.5
60.6
58.9
57.6
59.0
60.3
55.5
Other labor income
54.5
61.3
62.0
63.8
Proprietors' income with inventory valuation and capital consumption adjust83.6
79.6
78.6
82.1
88.0
ments
85.1
83.3
87.0
21.0
20.1
24.6
24.6
Farm.. .
.
25.6
21.9
29.3
28.2
Proprietors' income with
inventory valuation adjustment and without
capital consumption ad28.6
25.1
24.3
29.3
28.9
25.7
33.6
justment
32.6
Capital consumption ad-4.2 -4.3 -4.4
-4.0
-4.1
-3.7 -4.3
justment
-3.8
59.0
58.5
60.2
58.6
Nonfarm
59.5
58.7
58.7
58.8
Proprietors' income without inventory valuation
and capital consump60.0
62.5
59.1
59.1
62.0
64.5
60.4
tion adjustments
61.3
Inventory valuation ad-.9 -1.5
-4.1 -1.3
-5.8 -4.6 -1.3
justment
. _.
-1.7
Capital consumption ad1.1
.3
.0
1.5
.8
-.3
justment -- _ .
-_. .
1.6
-.8
Rental income of persons with
capital consumption ad20.9
21.0
20.9
20.8
20.5
21.1
justment
. . -. -.
20.9
22.0
33.2
34.6
35.0
33.0
33.9
Rental income of persons
32.9
35.1
36.3
Capital consumption adjustment
-11.9 -13.9 -12.0 -12.3 -13.1 -14.1 -14.2 -14.3
Corporate profits with inventory valuation and capital
82.0
89.2
96.6 113.1
consumption adjustments
91.3 102.1
78.9
Corporate profits with inventory valuation adjustment and without
capital consumption ad86.1
93.6 108.3
92.0
justment
83.4 101.6 119.6
132.1 119.8 146.7 123.9
97.1 108.2 129.5
Profits before tax
49.2
37.5
47.0
59.3
41.6
Profits tax liability
52.6
50 7
74.7
66.6
Profits after tax
79.5
87.4
72.8
59.6
78.8
32.6
Dividends
31.1
31.7
31.7
32.1
32.8
33.5
33.1
48.4
40.0
55.7
43.0
34.0
Undistributed profits _
27.5
45.3
Inventory valuation ad—38.5 — 11.5 —54.7 -37.7 -13.7 -6.6 — 9 9 -15.8
justment
Capital consumption ad-6.2 -2.7 -4.2 -4.5
-5.0 -6.5 -8.6
justment
-2.3
70.0
76.7
Net interest. ... .
81.6
72.7
78.7
79.7
85.7
82.2
Gross domestic product of corporate business
Capital consumption allowances with
capital consumption adjustment
Net domestic product
Indirect business taxes plus transfer
payments less subsidies
Domestic income
210.1
215 7
74.0
200.9
264 4
89.6
199.9
198 8
64.6
207.1
226 7
83.6
180.3
228 3
73.6
185.9
279 3
107.5
211 9
269 5
85. 9
Wages and salaries
Supplements to wages and salaries ..
. ..
Corporate profits with inventory
valuation and capital consumption adjustments
7 6
48.4
22 3
40.0
—1 8
55.7
1 i
43.0
9 3
27.5
22 4
34.0
28 9
45.3
—38.5 — 11.5 —54.7 -37.7 -13.7
94.0
92.8 100.4
83.4
87.2
89.1
91.6
95.5
99.7
94.7
94.5
95.5
98.8 102.8 104.4
582.4 604.3 592.5 596.8 589.5 592.5 608.6 626.7
502.1 518.4 510.7 513.3 506.0 508.1 522.0 537.5
80.4
85.9
80.2
96.3
. . . . 121.1 113.9
Profits tax liability
Profits after tax .
Dividends
Undistributed profits
52 6
68.5
30.9
37.5
47 0
66.9
30.9
36.0
81.8
83.5
83.4
84.3
79.2
71.0
73.1
90.7 106.9
136.7 112.9
59 3
77.4
33.3
44 1
49 2
63.7
30.6
33.0
91.3 102.3
37.5
53.8
30.1
23.7
41.6
60.8
30.6
30.1
86.6
89.2
123. 3
50 7
72.6
31.5
41.1
Inventory valuation adjustment- -38.5 -11.5 -54.7 -37.7 -13.7 -6.6 -9.9 -15.8
Capital consumption adjustment .
- - - - . - _ -2.3 -6.2 -2.7 -4.2 -4.5 -5.0 -6.5 -8.6
Net interest
Gross domestic product of financial corporate business ^
17.1
19.3
18.3
19.8
18.7
18.9
19.2
46.0
48.1
48.0
47.4
49.5
47.3
46.7
Gross domestic product of nonfinancial corporate business. ..808.7 866.1 820.3 821.8
Capital consumption allowances with
capital consumption adjustment
Net domestic product
Indirect business taxes plus transfer
payments less subsidies
Domestic income
Compensation of employees
78.3
89.5
79.7
83.1
20.2
816.4 845.1 886.2
85.0
87.3
91.0
94.9
730.4 776.5 740.6 738.7 731.4 757.8 795.3
86.0
93.1
87.8
87.5
88.5
91.6
95.5
96.9
644.4 683.4 652.8 651.2 642.9 666.2 699.8
549.5 568.5 559.0 562.3 554.4 556.9 572.7 590.0
Wages and salaries
. - 474.3 488.2 482.5 484.3 476. 5 478.1 491.8 506.6
Supplements to wages and sal75.2 80.3 76.5 78.0 78.0 78.8 80.9 83.4
aries
Profits before tax
91. 3
82.1
679.8 719.8 690.1 687.6 681.3 702.1 734.7
Compensation of employees
Profits before tax .
854.6 914.2 868.2 869.2 865.9 892.4 933.0
772.6 820.2 784.8 782.1 776.8 800.8 837.5
Corporate profits with inventory
valuation and capital consumption adjustments
Table 11.—Gross Saving and Investment (5.1)
IV
Seasonally adjusted at annual rates
Billions cf dollars
Gross saving
Gross private saving
Personal saving
Undistributed
corporate
profits with inventory
valuation and capital
consumption
adjustments
Undistributed profits
Inventory valuation adjustment
Capital consumption adjustment
Corporate capital consumption allowances with capital consumption adjustment .
Noncorporate capital consumption allowances with
capital consumption adjustment
Wage accruals less disbursements
Government surplus or deficit
( — ), national income and
product accounts
Federal
State and local
Capital grants received2 by the
United States (net)
Gross investment
Gross private domestic investment
Net foreign investment
Statistical discrepancy
III
1975
Profits tax liability
Profits after tax
Dividends..
_
....
Undistributed profits
63.2
103.8
42.7
61.1
30.5
30.6
92.7
54.8
55.3
75.7
97.7 118.4
96.3
73.1
86.8 108.5
48.9
69.6
32.7
36.9
39.4
56.9
30.4
26.5
27.1
46.0
30.1
15.9
32.0
54.8
30.7
24.0
80.7
37.3
60.4
30.8
29.6
61.2
41.6
66.8
31.3
35.5
Inventory valuation adjustment . -38.5 -11.5 -54.7 -37.7 -13.7 -6.6 -9.9 -15.8
Capital consumption adjustment .
- - -2.1 -5.6 -2.5 -3.8 -4.1 -4.5 -5.9 -7.8
—6.6
—9 9 — 15 8
-2.3
—6 2
-2 7
-4.2
-4.5
-5.0
—6 5
—8 6
82.1
94.0
83.4
87.2
89.1
91.6
95.5
99. 7
Gross domestic product of non-
52.0
58.5
52.6
54.9
56.3
57.9
59.2
60.8
Capital consumption allowances with
capital consumption adjustment
.0
.0
.0
.0
.0
.0
.0
.0
Net interest.
31.7
34.3
32.6
34.0
33.2
33.6
34.4
Billions of 1972 dollars
-3.6 —63.5
-11.7 -73.4
8.1
10.0
-2.0
209.5
196.3
.0
202.2
212.2
-2.8
183.3
13.0
-4.6
207.6
-5.3
2.4
-.6
.0
.0
.0
210.0
177.1
177.0
.0
208.7
.0
222.3
210.3
168. 7
161.4
15.6
-8.9
194.9
13.7
-3.2
208.3
14.1
.0
-.2
2.9
8.4
-3.2
Net domestic product
Indirect business taxes plus transfer
P vin_. .
1.0 -19.6 -48.0 -93.4 —57.6
-8.0 -25.5 -53.7 -102.2 —70.5
5.7
8.8
5.9
12.9
9.1
p Preliminary.
1 Consists of corporations in the following industries: banking; credit agencies other than
banks; security and commodity brokers, dealers, and services; insurance carriers; regulated
investment companies; small business investment companies; and real estate investment
trusts. These industries together with insurance agents, real estate, and other holding ana
investment companies comprise the finance, insurance, and real estate industry.
2
See footnote 1 page 44.
SUEVEY OF CURRENT BUSINESS
1'art I January 1976
1974
1974
1975 »
III
43
1974
1975
IV
I
1974 1975^
IV P
I II
II
Table 13.—Personal Income and Its Disposition (2.1)
1,154.7 1,246.0 1,171.6 1,194.8 1,203.6 1,223.8 1,261.7 1,294.8
763.6
801.6
775.9
783.6
781.0
787.6
807.3
830.5
273.7
211.2
184.3
145.0
273.5
211.1
195.1
158.6
279.2
215.7
187.0
147.4
277.7
214.9
189.9
150.1
267.9
205.5
190.3
153.5
267.2
205.9
191.8
156.0
275.3
212.9
196.6
160.0
283.7
220.3
201.8
164.8
160.6
174.4
162.3
165.9
169.3
172.6
175.4
180.2
54.5
61.3
55.5
57.6
59.0
60.3
62.0
63.8
85.1
83.3
82.1
83.6
79.6
78.6
88.0
87.0
25.6
59.5
24.6
58.7
21.9
60.2
24.6
59.0
21.0
58.6
20.1
58.5
29.3
58.7
28.2
58.8
21.0
21.1
20.9
20.9
20.8
20.5
20.9
22.0
Dividends
Personal interest income
31.1
106.5
32.8
120.7
31.7
109.1
31.7
114.0
32.1
116.0
32.6
117.6
33.5
121.2
33.1
127.8
Transfer payments
140.4
175.0
144.3
151.6
163.9
175.7
178.8
181.7
C ommodity-producing
industries 1
Manufacturing
2
Distributive industries
__
Service industries 3
Government and government enterprises
Other labor income
Proprietors' income with inventory valuation and
capital consumption adjustments
Farm
Nonfarm
Rental income of persons
with capital consumption
adjustment
Old-age, survivors, disability, and health insurance benefits
Government unemployment insurance benefitsVeterans benefits
70.1
81.4
72.7
75.0
76.6
77.7
85.0
86.3
6.6
11.7
17.5
14.3
6.5
11.9
8.2
13.4
15.1
14.6
18.6
13.8
18.7
13.9
17.6
14.8
Government employee retirement benefits
Aid to families with dependent children
Other
18.5
21.8
18.9
19.6
20.7
21.2
22.1
23.2
7.9
25.5
9.1
30.9
8.0
26.1
8.4
27.0
8.7
28.1
8.9
35.4
9.2
29.8
9.5
30.2
Less: Personal contributions for social insurance. .
47.4
49.8
48.0
48.2
48.8
49.1
50.0
51.2
Less: Personal tax and nontax payments
171.2
169.2
175.3
178.9
179.6
142.1
174.6
180.4
Equals: Disposable
income
983.6 1,076.8
personal
Less: Personal outlays
Personal consumption expenditures
Interest paid by consumers
to business _ .
Personal transfer payments
to foreigners (net)
Equals: Personal saving
996.3 1,015.9 1, 024. 0 1,081.7 1, 087. 1 1,114.4
909.5
987.2
931.7
932.4
950.4
974.2 1, 001. 3 1,023.1
885.9
963.2
907.7
908.4
926.4
950.3
977.4
998.7
22.6
23.1
22.9
23.0
23.0
22.8
23.0
23.5
1.0
1.0
1.0
1.0
1.0
1.1
.9
1.0
74.0
89.6
64.6
83.6
73.6
107.5
85.9
91.3
Addenda:
Disposable personal income:
Total, billions
dollars
of
1972
843.5
857.0
842.0
837.6
831.6
869.8
858.2
868.4
4,642
3,981
5,040
4,012
4,697
3,969
4,779
3,940
4,808
3,905
5,070
4,077
5,083
4,012
5,199
4,052
.
211.9
213.6
212.1
212.6
213.0
213.4
213.9
214.3
Personal saving as percent of
disposable personal income ..
7.5
8.3
6.5
8.2
7.2
9.9
7.9
8.2
Per capita:
Current dollars
1972 dollars
Population
millions).
(mid-period,
I
II
III
IV
Billions of dollars
Billions of dollars
Wage and salary disbursements
IV
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Personal income
III
1975
Table 14.—Corporate Profits With Inventory Valuation Adjustment
and Without Capital Consumption Adjustment by Industry
(6.18)
Corporate profits with inventory
valuation adjustment and
without capital consumption
adjustment
93.6 108 3
92.0
86 1
83 4 101 6 119 6
Domestic industries
Financial--- _ ..
._ __
Federal Reserve banks
Other
N onfinancial
M anuf actur in g
Nondurable goods
. ...
Food and kindred products. .
Chemicals and allied products.
Petroleum and coal products..
Other
Durable goods - .
Primary metal industries
Fabricated metal products
Machinery, except electrical. ..
Electrical equipment and supplies
Motor vehicles and equipmentOther
82.5 102 4
17.3 16.2
57
57
11.5 10 5
65 3 86 2
37 4 46 6
25.6 27 9
3.3
5.3
8.9
82
11.8 18 6
3.5
.9
1.8
82 0
18.3
60
12 3
63 7
37 0
27.2
2.4
5.0
12.1
7 8
9 7
4.4
2
2
75 1
16.5
60
10 5
58 6
31 9
22.6
1.7
4.8
7.7
85
9 2
4.3
13
1.1
77 6 95 7 113 4
18.3 15 5 14 9
5 7
5 7
5 4
12 5
9 9
9 4
59 3 80 2 98 6
30 0 43 5 54 6
21. 1 27 5 30 1
5.9
7. 1
6.9
4.4
5.9
7.5
5.2
7.0
6.0
56
7 5
9 8
8 9 16 0 24 5
3.9
1.4
1.7
15 27
34
3.4
4.7
5.8
.9
1.0
37
1
2.6
27
Wholesale and retail trade
Transportation, communication,
and electric, gas, and sanitary
services
Other
Rest of the world
13.4
11.7
7.7
7.4
10 0
Corporate profits before deduction of capital consumption allowances, with inventory valuation adjustment
.
7.0
7.5
11 0
59
1.2
.3
.6 -2.2
16
10
2 2
1.1
36
25
4.9
65
11.9
16.3
21.0
25.1
6 7
8.1
11 0
5.1
7.9
58
7.9
7.8
58
11 3
7.6
6 2
173.3 196.1 172.7 169.1 168.0 188.2 208.6
162.3 190.2 162.7 158.1 162.2 182.3 202.4
Domestic industries
. - - 20.8 20.0 21.8 20 2 22.0 19.3 18 7
Financial
5.8
5.7
5.7
Federal Reserve banks
5.7
55
6.0
6.0
Other
.
15.0 14.4 15.8 14.1 16.2 13.6 13.3
141.5 170.2 140.9 138.0 140.3 163.0 183.7
Nonfinancial
69 7 81 4 69 8 65 2 63 8 77 9 89 9
M anufacturing
41.6 45.3 43.2 39.7 38.1 44.5 47.6
Nondurable goods
4.1
9.4
5.6
8.3
Food and kindred products
4.8
9.3
8.2
Chemicals and allied products8.9
8.7
8.6
9.8 11.4
Petroleum and coal products _ . 14.2
17.2 13.6 11.1 12.8 11.9
12 9
12 5 13 4 10 5 12 5 15 0
Other
28.1 36.2 26.6 25.5 25.7 33.3 42.3
Durable goods
6.4
5.9
6.7
4.2
Primary metal industries
6.8
39
2.2
4.1
1.1
2.9
2.6
Fabricated metal products
4.8
4
3
6.7
8
2
35
Machinery except electrical
50
9 3
Electrical equipment and sup35
2 8
39
54
plies
50
?9
Motor vehicles and equip.2
3.5
5.2
3.7
2.9
7.7
ment
5.6
61
8.2 11 3
Other
8.0
Wholesale and retail trade
Transportation, communication,
and electric, gas, and sanitary
services
Other
Rest of the world . - .
21.2
19.5
20.0
24.6
29.5
33.9
29.4
21.2
11.0
30.4
21. 1
10.0
30.5
22.3
11.0
29.4
22.5
5.8
32.8
22.8
5.8
36.8
23.1
6.2
5.9
f> Preliminary.
1. Consists of agriculture, forestry, and fisheries; mining; contract construction; and manufacturing.
2. Consists of transportation; communication; electric, gas, and sanitary services; and trade.
3. Consists of finance, insurance, and real estate; services; and rest of the world.
NOTE.—The industry classification is on a company basis.
SURVEY OF CURRENT BUSINESS
44
1974
1974
1975P
III
Part I January 1976
1975
I
IV
II
1974
III
IV P
III
1974
I
IV
1975 P
Seasonally adjusted at annual rates
19 75
Billions of dollars
Table 15.—Federal Government Receipts and Expenditures (3.2)
288.4 283.5 299.2 293.1 283.6
Receipts
131.4 125.6 134.6 137.4 137.6
45.9
Corporate profits tax accruals
40.2
51.8
42.9
32.1
99.3 130.5 135. 2
35.5
43.4
24.2
22.1
21. 7
22.3
23.5
25.5
25.4
Contributions for social insurance
89.4
93.5
90.8
91.1
91.7
91.9
93.9
96.4
National defense
-- - --
Compensation of employees .
Other
Nondefense
- -
300.1 356.9 307.2 318.6 337. 4
352.3 363.8 374.2
111.7 123.1 113.6 118.2 IIP. 4
119.2 124.2 129.8
77.4
84.0
78.4
80.5
81.4
82.1
84.9
87.4
37.5
39.9
39.6
44.4
37.1
41.3
38.9
41.6
39.0
42 4
39.1
43.0
39.3
45.6
41.0
46.5
34.3
39.2
35.1
37.7
38.0
37.1
39.3
42.3
17.2
17.1
Compensation of employees
Other
-
19.2
19.9
17.3
17.9
18.1
19.6
18.7
19.3
117.7 149.2 121.2 127.8 139.2
Transfer payments
To persons 1
To foreigners
114.5 146.1 118.0 124.8 136.2
3.0
3.0
3.2
3.0
3.2
-
18.9
18.1
19.3
20.0
Receipts
_
Personal tax
receipts
21.7
Purchases of goods and services
Table 17.—State and Local Government Receipts and Expenditures (3.4)
250.1 293.3
Indirect business tax and nontax
accruals
-- -
Expenditures
IV P
III
Seasonally adjusted at annual rates
Billions of dollars
Personal tax and nontax receipts
II
20.1
22.2
150.5 152.5 154.5
147.3 149.5 151.5
3.2
3.0
3.1
and
209.4
232.4
213 5
214 9
221 2
228 2
237 7
39 8
43 5
40 7
41 5
42 0
49 9
44 1
6.7
6.8
7.6
6.3
5.5
6.1
7 3
105 6
113 0
107 6
107 8
109 3
111 8
114 5
nontax
Corporate profits tax accruals, _
Indirect business tax and nontax accruals
45 °
116 4
Contributions for social insurance
--
13.5
14 8
13 7
14 0
14 3
14 7
15 0
15 3
Federal grants-in-aid
43.9
54 2
44 0
45 4
50 1
52 8
56 8
57 1
204 5
209 0
215 5
219 4
224 8
229 9
Expenditures
201 3
222 4
Purchases of goods and services
189. 4
207 8
192 3
196 3
201 9
205 5
9
09 9
214 l
Compensation of employ eesOther
106.4
83 0
117.4
90 4
107.6
84 7
110.0
86 3
113.3
88 6
116.4
89 0
118.8
91 1
121.2
99 9
Transfer payments to persons- .
20.0
22.5
20.4
20.7
21.5
22.1
22.9
23.7
Net interest paid
Paid
Less: Received
-3 6
9 4
13 0
—3 0
10 8
13 9
—3 6
9 7
13 3
—3 3
9 9
13 2
—3 2
10 4
13 7
—3 2
10 7
13 9
—2 9
11 0
13 9
_9 g
Subsidies less current surplus
of government enterprises _
-4.5
-4.9
-4.6
-4.7
-4.7
-4.9
-5.0
-5.1
1
2
1
1
I
2
9
9
11 3
14 1
Grants-in-aid to State and local
governments
- -
43.9
54.2
44.0
45.4
50.1
52.8
56.8
57.1
Net interest paid
21.0
23.5
21.4
22.0
22.4
22.6
23.4
25.7
Subsidies
Interest paid
24.1
27.1
24.5
25.0
25.5
26.1
27.3
29.5
19.8
4.3
22.6
4.5
20.2
4.3
20.5
4.5
20.6
4.9
21.6
4.4
22.8
4.5
25.2
4.3
Less: Current surplus of
government enterprises
4.7
5.1
4.8
4.8
4.9
5.1
5.2
5.3
3.0
3.6
3.1
2.9
3.2
3.5
3.9
3.8
Less: Wage accruals less disbursements
.0
.0
.0
o
o
o
o
o
Surplus or deficit (— ), national income and product
accounts
8 1
10 0
9 1
5 9
5 7
8 8
12 9
9.8
—1 7
11.1
—1 1
10.0
— 9
10.2
—4 3
10.8
—5 0
11 1
—2 ?
11 2
1 7
To persons and business. __
To foreigners
Less: Interest paid to government-.
Subsidies less current surplus of
government enterprises
Subsidies
-
-
--
5.2
6.8
5.5
5.1
6.3
7.1
6.9
7.0
3.4
4.4
3.6
3.8
4.6
4.4
4.4
4.3
Less: Current surplus of government enterprises. - -. -. -1.8 -2.4 -1.9 -1.3 -1.6
Less: Wage accruals less disbursements
-
-.5
.0 -1.5
.0
.0
16.—Foreign Transactions in the National
Product Accounts (4.1)
Receipts from foreigners . - ._. . 142.2 147.3 148.6 153.6 148.2
144.2 147.3 148.6 153.6 148.2
Exports of goods and services _
Capital grants received
by the United
States (net) !
Payments to foreigners
-_
Imports of goods and services
Transfer payments (net)
From persons (net)
From government (net)
Interest paid by government to foreigners
Net foreign investment
-2.0
.0
.0
.0
.0
.0
.0
.0
Income and
140.7 148.5 151.9
140.7 148.5 151. 9
.0
.0
.0
142.2 147.3 148.6 153.6 148.2
136.5 125.8 145.5 145.3 130.9
116.4 126.4 129.4
4.2
4.0
4.2
4.0
4.0
4.2
3.9
4.1
1.0
3.2
1.0
3.0
1.0
3.2
1.0
3.0
1.0
3.0
1.1
3.2
.9
3.0
1.0
3.1
4.3
4.5
4.3
4.5
4.9
4.4
4.5
4.3
13.0 -5.3
o
8.4
15.6
13.7
14.1
p Preliminary.
1. On February 18, 1974, the U.S. Government granted to India $2,010 million (quarterly
rate) in rupees under provisions of the Agricultural Trade Development and Adjustment
Act. This transaction is being treated as capital grants paid to foreigners in the national income
and product accounts but as current unilateral transfers in the balance of payments accounts.
Accordingly, this transaction is excluded from Federal Government transfers to foreigners
and related totals shown in tables 11, 15, and 16, and is included in the first quarter of 1974
as -$8.0 billion (annual rate) in capital grants received by the U.S. shown in tables 11 and 16.
Table 18.—National Income Without Capital Consumption Adjustment by Industry (6.4)
National income without
capital consumption
adjustment . _ . . . _1,157.5 1,233.8 1,168.3 1,180.7 1,176.1 1,203.8 1,257 8
140.7 148.5 151.9
-2.8
11 2
-2.8 -2.5 -2.7
Surplus or deficit (— ), national
-11.7 -73. 4 -8.0 -25.5 -53.7 -102. 2 -70.5
income and product accounts
Table
Social insurance funds . _ Other funds
Domestic income
Agriculture,
fisheries
forestry,
1,143.1 1,223.4 1,154.6 1,165.9 1,166.4 1,193.7 1,246.1
and
Mining and contract construction
43.8
44.7
40.2
43.6
40.6
39.8
49.4
74.6
74.3
75.8
75.6
74 5
73 1
74 0
294.2
119.0
175.3
304.3
124.4
179.9
299.0
122.1
176.9
293.7
117.2
176.4
280.7
114.2
166.5
295.0
122.3
172.7
314.4
129.2
185.2
45.1
23.8
44.4
25.6
46.1
23.9
44.9
25.0
41.7
24.3
42.5
25.3
45.8
26.3
20.0
178.5
24.7
202.0
20.4
180.2
21.4
182.9
23. C
190.9
24.2
197.6
25.4
205.5
74.8
103.7
80.8
121.1
75.7
104.5
79.3
103.5
75.7
115.2
77.9
119.7
83.1
122.4
Finance, insurance, and real
estate
Services
130.3
152.7
139.0
167.3
132.7
155.3
133.7
158.5
137.7
161.9
136.7
164.7
137.9
169.0
Government and government enterprises
180.0
197.1
181.1
186.7
191.2
195.0
198.4
14.4
10.5
13.7
14.8
9.6
10.0
11.6
M anu f acturing
Nondurable goods
Durable goods
T ransportation
Communication Electric, gas, and sanitary
services
_
.. _ _.
Wholesale and retail trade. _.
Wholesale trade
Retail trade
Rest of the world
10.6
NOTE.—The industry classification of the compensation of employees, proprietors' income,
and rental income of persons is on an establishment basis; the industry classification of corporate profits and net interest is on a company basis.
SUEVEY OF CURRENT BUSINESS
Part I January 1976
1975
1974
1974 1975 P
III
45
IV
I
II
III
1974
IV v
1974 1975 P
III
Seasonally adjusted
. . . _ 116. 20 126. 35 117.70 121. 45 123.74 125.04 127. 21 129. 22
Gross private domestic investmentFixed investment
Nonresidential
Structures. _ ..
... . ._
Producers' durable equipment- _
Residential _ _
Nonfarm structures _
Farm structures
Producers' durable equipment-.
Change in business inventories. _ _
Nonfarm
Farm
Net exports of goods and services
Exports , ._ . _ . _. -.
Imports
117.6
116.0
127.5
110.2
122.1
122.6
122.9
105.4
132.6
132.3
141.7
127.7
133.5
134.1
133.7
116.3
I
II
III
IV p
Index numbers, 1972 = 100
Table 19.—Implicit Price Deflators for Gross National Product (7.1)
Gross national product
IV
Seasonally adjusted
Index numbers, 1972 = 100
Personal consumption expenditures
116.6 125.6
Durable goods
.. ..
_ _ .. . 108.4 116.8
Nondurable goods
124.0 133.6
Services
112.7 121.4
1975
118.3
110.4
126.0
114.2
121.3
114.0
129. 5
116.4
123.1
114.3
131.0
119.0
124.4
116.3
131.9
120.2
126.7
117.4
135.2
122.2
128.3
118. 9
136.2
124.4
120.2
118.5
133.1
111.5
124.9
125.4
125.4
106.8
125.4
125.0
138.3
118.3
126.7
127.2
127.1
110.8
130.1
129.6
141.0
123.8
131.6
132.2
131.4
113.8
131.9
131.8
141.2
127.3
132.3
132.9
132.2
115.5
132.6
132.6
141.4
128.4
132.5
133.0
133.0
116.8
135.6
135.2
143.2
131.2
137.0
137.6
137.4
118.6
Table 23.—Implicit Price Deflators for Net National Income by
Sector (7.7)
Net national product -
116.3 126.5 117.9 121.7 124.0 125.2 127.4 129 3
Net domestic product
115 8 126 1 117 2 121 0 123 6 124 8 126 9 128 9
Business
116 0 126. 9 117.6 121 6 124 4 125 6 127 7 129 5
Nonfarm
Farm
Residual l
114.7 126.3 116.7 120.5 124.2 125.1 126.8
164.1 145.5 153.0 160. 9 131.1 142.4 155.8 151. 5
Households and institutions -.
Government
116.4 126.3 117.6 120.9 122.5 124.0 127.6 130. 9
114.4 121.5 114.8 117.7 119.1 120.5 121.8 124 5
Rest of the world _.
National income
116.8 127.3 118. 3 122.4 124.9 126.2 128 0
Domestic income. ....... .. ..
147.8 162.9 153.4 160.4 163.5 162.0 163.6 162.7
168.6 188.0 177.7 185.6 189.1 187.8 187.8 187. 3
Government purchases of goods and
118.4 128.5 120.1 124.0 125.9 127.3 129.2 131.7
services
Federal
- - - - - - - 117.6 130.6 118.6 124.8 127.3 128.9 130.9 135.3
National defense
Nondefense_
State and local. - .
- 118.9 127.3 m.6 123.6 125.1 126.4 128.2 129.6
Table 20.—Implicit Price Deflators for Gross National Product by
Business _ -
116.1 126.9 117.5 121.7 124.5 125.7 127.5
116. 4 127.9 118.0 122. 5 125.6 126.8 128.6
115.4 127. 9 117.5 121.8 126.0 126.9 128.2
147.1 128.7 125.5 143.7 114.6 124.3 138.5 136.1
Nonfarm
Farm . .
116.4 126.3 117.6 120. 9 122.5 124.0 127.6 130. 9
114.4 121.5 114.8 117.7 1 19. 1 120.5 121.8 124.5
Households and institutions
Government
Rest of the world
Table 24.—Implicit Price Deflators for Auto Output (7.9)
Major Type of Product (7.3)
106.8 112.5 109.7 112.5 107.9 111.8 113.9 115.1
116.20 126. 35 117.70 121.45 123.74 125. 04 127. 21 129. 22
Gross national product
Final sales _ - - .
Goods
Durable
Nondurable
Services
Structures
-- - - - - -
116.1
115.5
109.6
119.6
114.6
126.2
126.5
127.8
123.7
130.4
122.9
139.1
117.7
116.8
110.9
120.8
116.0
130.6
121.3
121.5
116.6
124.7
118.5
134.8
123.8
124.8
119.9
127.8
120.3
138.4
125.4
126.7
123.4
129.0
121.6
138.6
127.3
129.0
124.8
131.7
123.6
138.4
129. 3
130 4
126 5
132 9
125 9
141 1
Final sales
Personal consumption expenditures _
New autos
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
Net exports
Exports.
.........
106.3 112.6 109.0 113.9 109.2 112.8 113.3 114.6
109.0 117.1 112.0 117.7 112.8 116.8 118.5 119.?
105.6 114.8 107.7 111.4 112.2 114.5 115.2 117.1
103.7 107.6 103.8 105.3 105.9 108.6 106.8 109. C
105.8 115.0 107.7 111.4 112.1 114.5 115. 3 117.1
107.2 116.0 109.5 113.3 113.3 113.8 116.5 119. £
1 OO
A
i a/I a
1 AC\ C
Table 21.—Implicit Price Deflators for Gross National Product by
Sector (7.5)
Gross national product
116. 20 126. 35 117.70 121. 45 123. 74 125. 04 127. 21 129. 22
115.7 126.0 117.1 120.9 123.4 124.7 126.8 128.9
Gross domestic product
Business
-..
Nonfarm
.
Farm
Residual 1 ... ... .
115.8 126.6 117.4 121.3 124.0 125.3 127.5 129.4
114.6 126.0 116.5 120.3 123.8 124.8 126.6
154.0 142.4 145.8 152.5 130.8 139.5 150.7 ~147.~8
-
Households and institutions
116 4 126 3 117 6 120 9 12? 5 124 0 127 6 130 ()
Government
Federal.
State and local
114.4 121.5 114.8 117.7 119.1 120.5 121.8 124.5
114.1 123.1 113.1 119.0 120.5 121.4 122.5 128.1
114.6 120.7 115.6 117.1 118.4 120.0 121.4 122.8
Rest of the world
__ .. _.
Table 22.—Implicit Price Deflators for the Relation of Gross
National Product, Net National Product, and National Income
(7.6)
Gross national product
116. 20 126. 35 117.70 121. 45 123. 74 125. 04 127. 21 129. 22
Less: Capital consumption allowances
with capital consumption adjustment
114.8 124.8 115.9 119.2 121.1 123.3 125.8 128.7
Equals : Net national product
116.3 126.5 117.9 121.7 124.0 125.2 127.4 129.3
Less: Indirect business taxes plus
transfer payments less subsidies
plus current surplus of government enterprises .
113.0 119.9 114.8 115.7 117.0 118.0 122.0 122.6
Residual 1
Equals: National income
116.8 127.3 118.3 122.4 124.9 126.2 128.0
Table 25.—Implicit Price Deflators for Personal
Expenditures by Major Type (7.11)
Personal consumption expenditures . - . -.. --
Consumption
116.6 125.6 118.3 121.3 123.1 124.4 126.7 128.3
108.4 116.8 110.4 114.0 114.3 116.3
..
Motor vehicles and parts
. - 108.0 116.3 110.8 115.7 112.7 116.0
Furniture and household equipment- 108.3 116.6 109.8 112.8 114.9 116.0
110.0 118.5 111.2 113.9 116.5 117.9
Other
Durable goods
Nondurable goods
128.7
. . . 110.5
147.9
182.4
112.3
139.2
114.2
155. 4
197.5
125.2
129.6
112.3
153.2
190.9
114.7
134.8
113.6
146.5
193.7
119.3
136.9
113.5
146.1
187.9
122.8
137.2
113.3
150.5
190.4
124.8
140.7
114.8
161.9
202.1
125.7
141.9
115.3
163.4
210.1
127.3
112.7 121.4 114.2 116.4 119.0 120.2 122.2 124.4
Services
Housing
Household operation
Electricity and gas
Other
Transportation
Other
117.4 118.8
116.8 118.5
119.2 120.3
124.0 133.6 126.0 129.5 131.0 131.9 135.2 136.2
-
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
117.4 118.9
. - _-
110.8
116.4
122.1
112.4
108.3
114.1
116.8
128.2
140.5
119.4
120.0
123.5
111.5
118.6
124.9
114.1
110.0
116.0
113.3
121.4
129.6
115.5
113.1
118.0
114.7
124.3
134.6
116.9
116.4
121.4
115.9
126.6
138.0
118.3
118.6
122. 0
117.3
129.6
143.2
119.9
121.1
124.1
119.1
132.4
146.4
122.4
123. 9
126.5
p
Preliminary.
1. Equals GNP in constant dollars measured as the sum of final products less GNP in
constant dollars measured as the sum of gross product by industry.
2. Final sales and change in inventories of new autos produced in the United States.
3. Consists of personal consumption expenditures, producers' durable equipment, and
government purchases.
46
SUEVEY OF CURRENT BUSINESS
Part I January 1976
LIST OF DETAILED TABLES
This list indicates the complete set of tables, and the period covered, that will appear in a
subsequent publication. The asterisks indicate tables excluded from this report. The tables
included cover only the postwar period.
Page
PARTI
1.
Gross National Product, Net National Product, and National Income
1.1
Gross National Product: Annually, 1929-74, and Seasonal^ Adjusted Quarterly Totals at
Annual Rates, 1946-74
50
1.2
Gross National Product in Constant Dollars: Annually, 1929-74, and Seasonally Adjusted
Quarterly Totals at Annual Rates, 1947-74
54
1.3
Gross National Product by Major Type of Product: Annually, 1929-74, and Seasonally Adjusted Quarterly Totals at Annual Rates, 1947-74
58
1.4
Gross National Product by Major Type of Product and Purchaser: Annually, 1947-74
1.5
Gross National Product by Major Type of Product in Constant Dollars: Annually, 1929-74,
and Seasonally Adjusted Quarterly Totals at Annual Rates, 1947-74
60
1.6
Gross National Product by Major Type of Product and Purchaser in Constant Dollars:
Annually, 1947-74
*
1.7
Gross National Product by Sector and Industry: Annually, 1929-74, and Seasonally Adjusted
Quarterly Totals at Annual Rates, 1947-74
1
62
*
PART II
1.8
Gross National Product by Sector and Industry in Constant Dollars: Annually, 1929-74, and
Seasonally Adjusted Quarterly Totals at Annual Rates, 1947-74
6
1.9
Relation of Gross National Product, Net National Product, National Income, and Personal
Income: Annually, 1929-74, and Seasonally Adjusted Quarterly Totals at Annual Rates,
1946-74
8
Relation of Gross National Product, Net National Product, and National Income in Constant
Dollars: Annually, 1929-74, and Seasonally Adjusted Quarterly Totals at Annual Rates,
1947-74
12
1.11
Net National Product and National Income by Sector and Industry: Annually, 1929-74, and
Seasonally Adjusted Quarterly Totals at Annual Rates, 1946-74
14
1.12
Net National Product and National Income by Sector and Industry in Constant Dollars:
Annually, 1929-74, and Seasonally Adjusted Quarterly Totals at Annual Rates, 1947-74
16
1.13
National Income by Type of Income: Annually, 1929-74, and Seasonally Adjusted Quarterly
Totals at Annual Rates, 1946-74
20
1.14
National Income by Sector, Legal Form of Organization, and Type of Income: Annually.
1929-74
*
1.15
Gross Domestic Product of Corporate Business: Annually, 1929-74, and Seasonally Adjusted
Quarterly Totals at Annual Rates, 1946-74
24
1.16
Auto Output: Annually, 1947-74, and Seasonally Adjusted Quarterty Totals at Annual Rates,
1947-74
28
1.17
Auto Output in Constant Dollars: Annually, 1947-74, and Seasonally Adjusted Quarterly
Totals at Annual Rates, 1947-74
32
1.18
Farm Output, Gross Product, and Income: Annually, 1929-74
*
1.19
Farm Output, Gross Product, and Income in Constant Dollars: Annually, 1929-74
*
1.20
Housing Output, Gross Product, and Income: Annually, 1929-74
*
1.21
Housing Output, Gross Product, and Income in Constant Dollars: Annually, 1929-74
*
1.22
Gross National Product: Quarterly Totals Not Seasonally Adjusted, 1946-74
*
1.23
Gross National Product Originating in Government, Farm, and All Other Industries, in Current
and Constant Dollars: Annually, 1909-28
*
1.10
Part I January 1976
SUEVEY OF CURRENT BUSINESS
47
LIST OF DETAILED TABLES—Continued
2.
Personal Income and Outlay
Page
2.1
Personal Income and Its Disposition: Annually, 1929-74, and Seasonally Adjusted Quarterly
Totals at Annual Rates, 1946-74
34
2.2
Personal Income: Annually, 1946-74, and Seasonally Adjusted Monthly Totals at Annual
Rates, 1946-74
40
2.3
Personal Consumption Expenditures by Major Type of Product: Annually, 1929-74, and
Seasonally Adjusted Quarterly Totals at Annual Rates, 1946-74
45
2.4
Personal Consumption Expenditures by Major Type of Product in Constant Dollars: Annually,
1929-74, and Seasonally Adjusted Quarterly Totals at Annual Rates, 1947-74
48
2.5
Personal Consumption Expenditures b}^ Major Type of Product: Quarterly Totals Not Seasonally Adjusted, 1946-74
*
2.6
Personal Consumption Expenditures by Type of Expenditure: Annually, 1929-74
*
2.7
Personal Consumption Expenditures by Type of Product in Constant Dollars: Annually,
1929-74
_'_
3.
Government Receipts and Expenditures
3.1
Government Receipts and Expenditures: Annually, 1929-74
3.2
Federal Government Receipts and Expenditures: Annually, 1929-74, and Seasonally Adjusted
Quarterly Totals at Annual Rates, 1946-74
52
3.3
Federal Government Receipts and Expenditures: Quarterly Totals Not Seasonally Adjusted,
1946-74
*
3.4
State and Local Government Receipts and Expenditures: Annually, 1929-74, and Seasonal^
Adjusted Quarterly Totals at Annual Rates, 1946-74
58
3.5
State and Local Government Receipts and Expenditures: Quarterly Totals Not Seasonally
Adjusted, 1946-74
*
3.6
Government Purchases of Goods and Services by Broad Function and Type: Annually,
1952-74
*
3.7
Government Purchases of Goods and Services by Type: Annually, 1946-74, and Seasonally
Adjusted Quarterly Totals at Annual Rates, 1947-74
62
3.8
Government Purchases of Goods and Services by Type in Constant Dollars: Annually,
1946-74, and Seasonally Adjusted Quarterly Totals at Annual Rates, 1947-74
66
3.9
Government Gross Fixed Capital Formation: Annually, 1929-74
*
3.10
Social Insurance Funds Receipts and Expenditures: Annually, 1929-74
*
3.11 Contributions for Social Insurance: Annually, 1929-74
*
3.12
*
Government Transfer Payments to Persons: Annually, 1929-74
3.13 Subsidies Less Current Surplus of Government Enterprises: Annually, 1960-74
*
3.14
Government Expenditures by Type of Function: Annually, 1952-74
*
3.15
Relation of Federal Government Receipts and Expenditures in the National Income and
Product Accounts to the Consolidated Cash Budget: Fiscal Years, 1952-67, and to the Unified
Budget: Fiscal Years, 1968-74
*
3.16
Relation of National Defense Purchases in the National Income and Product Accounts to
National Defense Outlays in the Unified Budget: Fiscal Years, 1960-74
*
3.17
Relation of Commodity Credit Corporation (CCC) Expenditures in the National Income and
Product Accounts to CCC Outlays in the Unified Budget: Annually, 1960-74
*
3.18
Relation of State and Local Government Receipts and Expenditures in the National Income and
Product Accounts to Bureau of Census Governmental Finances Data: Fiscal Years, 1958-74
*
4.
Foreign Transactions
4.1
Foreign Transactions in the National Income and Product Accounts: Annually, 1929-74, and
Seasonally Adjusted Quarterly Totals at Annual Rates, 1946-74
68
4.2
Foreign Transactions in the National Income and Product Accounts: Quarterly Totals Not
Seasonally Adjusted, 1946-74
*
4.3
Relation of Foreign Transactions in the National Income and Product Accounts (NIPA's) to
the Corresponding Items in the Balance of Payments Accounts (BPA's): Annually, 1929-74._
*
48
SURVEY OF CURRENT BUSINESS
Part I January 1976
LIST OF DETAILED TABLES—Continued
5.
Saving and Investment
Page
5.1
Gross Saving and Investment: Annually, 1929-74, and Seasonally Adjusted Quarterly Totals
at Annual Rates, 1946-74
5.2
Gross Private Domestic Investment, Capital Consumption Allowances with Capital Consumption Adjustment, and Net Private Domestic Investment by Major Type of Investment : Annually, 1929-74
*
Gross Private Domestic Investment, Capital Consumption Allowances with Capital Consumption Adjustment, and Net Private Domestic Investment by Major Type of Investment
in Constant Dollars: Annually, 1929-74
*
5.4
Purchases of Structures by Type: Annually, 1929-74
*
5.5
Purchases of Structures by Type in Constant Dollars: Annually, 1929-74
*
5.6
Private Purchases of Producers' Durable Equipment by Type: Annually, 1929-74
*
5.7
Private Purchases of Producers' Durable Equipment by Type in Constant Dollars: Annually,
1929-74
*
5.8
Change in Nonfarm Business Inventories by Legal Form of Organization and by Industry:
Annually, 1929-74
*
5.9
Inventories and Final Sales of Business: Seasonally Adjusted Quarterly Totals, 1946-74
74
5.10
Inventories and Final Sales of Business in Constant Dollars: Seasonally Adjusted Quarterly
Totals, 1947-74
78
5.3
6.
70
Product, Income, and Employment by Industry
6.1
Gross National Product and Its Components by Industry: Annually, 1947-74
*
6.2
Gross National Product by Industr}^ in Constant Dollars: Annually, 1947-74
*
6.3
National Income Without Capital Consumption Adjustment by Industr}^: Annually, 1929-74_.
*
6.4
National Income Without Capital Consumption Adjustment by Industry: Annualty, 1929-74,
and Seasonally Adjusted Quarterly Totals at Annual Rates, 1946-74
80
6.5
Compensation of Employees by Industry: Annually, 1929-74
*
6.6
Wages and Salaries by Industry: Annually, 1929-74
*
6.7
Annual Earnings Per Full-Time Equivalent Employee by Industry: Annually, 1929-74
*
6.8
Full-Time and Part-Time Employees by Industry: Annually, 1929-74
*
6.9
Full-Time Equivalent Employees by Industry: Annually, 1929-74
*
6.10
Hours Worked b}^ Employees by Industry: Annualty, 1948-74
*
6.11
Hours Worked by Persons Engaged in Production by Industry: Annually, 1948-74
*
6.12
Employer Contributions for Social Insurance by Industry: Annually, 1948-74
*
6.13
Other Labor Income by Industry and by Type: Annually, 1948-74
*
6.14
Nonfarm Proprietors' Income Without Inventory Valuation and Capital Consumption Adjustments by Legal Form of Organization and Industry: Annually, 1929-74
*
6.15
Capital Consumption Allowances of Noncorporate Business by Legal Form of Organization and
Industry: Annually, 1929-74
*
6.16
Inventory Valuation Adjustment to Nonfarm Incomes by Legal Form of Organization and
Industry: Annually, 1929-74
*
6.17
Net Interest by Industry: Annually, 1929-74
*
6.18
Corporate Profits With Inventory Valuation Adjustment and Without Capital Consumption
Adjustment by Industry: Annually, 1929-74, and Seasonally Adjusted Quarterly Totals at
Annual Rates, 1946-74
„
82
6.19
Corporate Profits Before Tax by Industry: Annually, 1929-74
*
6.20
Federal, State, and Local Corporate Profits Tax Liability by Industry: Annually, 1929-74___
*
6.21
Corporate Profits After Tax by Industry: Annually, 1929-74
*
6.22
Net Corporate Dividend Payments by Industry: Annually, 1929-74
*
6.23 Undistributed Corporate Profits by Industry: Annually, 1929-74
*
6.24
*
Corporate Capital Consumption Allowances by Industry: Annually, 1929-74
L'art I January 1976
SUEVEY OF CURRENT BUSINESS
49
LIST OF DETAILED TABLES—Continued
7.
Implicit Price Deflators and Price Indexes
Page
7.1
Implicit Price Deflators for Gross National Product: Annually, 1929-74, and Quarterly
Seasonally Adjusted, 1947-74
7.2
Fixed-Weighted Price Indexes for Gross National Product, 1972 Weights: Annually, 1958-74,
and Quarterly Seasonally Adjusted, 1958-74
*
7.3
Implicit Price Deflators for Gross National Product by Major Type of Product: Annually, 192974, and Quarterly Seasonally Adjusted, 1947-74
90
7.4
Implicit Price Deflators for Gross National Product by Major Type of Product and Purchaser:
Annually, 1947-74
1
*
7.5
Implicit Price Deflators for Gross National Product by Sector and Industry: Annually, 1929-74,
and Quarterly Seasonally Adjusted, 1947-74
I
1
92
7.6
Implicit Price Deflators for the Relation of Gross National Product, Net National Product,
and National Income: Annually, 1929-74, and Quarterly Seasonally Adjusted, 1947-74
94
7.7
Implicit Price Deflators for Net National Product and National Income by Sector and Industry:
Annually, 1929-74, and Quarterly Seasonally Adjusted, 1947-74
_"
96
7.8
Current Dollar Cost and Profit Per Unit of Constant Dollar Gross Domestic Product of
Nonfinancial Corporate Business: Annually, 1948-74, and Quarterly Seasonally Adjusted
at Annual Rates, 1948-74
*_
1
*
7.9
Implicit Price Deflators for Auto Output: Annually, 1947-74, and Quarterly Seasonally
Adjusted, 1947-74
98
7.10
Implicit Price Deflators for Total Farm Output, Gross Product, and Income: Annualty,
1929-74
I_
*
7.11 Implicit Price Deflators for Personal Consumption Expenditures by Major Type of Product:
Annually, 1929-74, and Quarterly Seasonally Adjusted, 1947-74
100
84
7.12
Implicit Price Deflators for Personal Consumption Expenditures by Type of Product: Annually,
1929-74
*
7.13
Implicit Price Deflators for Purchases of Structures by Type: Annually, 1929-74
*
7.14
Implicit Price Deflators for Private Purchases of Producers' Durable Equipment by Type:
Annually, 1929-74
7.15 Implicit Price Deflators for Gross National Product, by Industry in Constant Dollars:
Annually, 1947-74
_"
1
8.
Supplementary Tables
8.1
Gross National Product: Receipts and Expenditures by Major Economic Groups: Annually,
1929-74
8.2
Monetary and Imputed Interest Flows: Annually, 1946-74
8.3
Imputations in the National Income and Product Accounts: Annually, 1929-74
8.4
Corporate Profits with Inventory Valuation Adjustment and Without Capital Consumption
Adjustment: Quarterly Totals Not Seasonally Adjusted, 1946-74
8.5
Relation of Corporate Profits, Taxes, and Dividends in the National Income and Product
Accounts (NIPA's) to Corresponding Totals as Published by the Internal Revenue Service
(IRS): Annually, 1929-72
1
8.6
Relation of Nonfarm Proprietors' Income Without Inventory Valuation and Capital Consumption Adjustments of Sole Proprietorships and Partnerships in the National Income and
Product Accounts (NIPA's) to Corresponding Totals as Published by the Internal Revenue
Service (IRS): Annually, 1959-72
8.7
Relation of Capital Consumption Allowance in the National Income and Product Accounts
(NIPA's) to Depreciation and Amortization as Published by the Internal Revenue Service
(IRS): Annually, 1929-74
8.8
Selected Per Capita Income and Product Series in Current and Constant Dollars, and Population of the United States: Annually, 1929-74
8.9
Percent Change from Preceding Period in Gross National Product in Current and Constant
Dollars, Implicit Price Deflators, and Price Indexes: Annually, 1929-74, and Quarterly
Seasonally Adjusted at Annual Rates, 1947-74
SUEVEY OF CURRENT BUSINESS
50
Part I January 1976
1. Gross National Product, Net
Table 1.1.—Gross National Product: Annually, 1946-74, and
[Millions of
1946
1947
1948
1949
1950
209, 579
232, 757
259, 079
258, 023
143, 808
161 742
174, 749
178, 135
16, 756
82, 728
45, 324
20, 431
90 879
50, 432
22, 855
96, 582
55,312
_
30,651
33, 952
Fixed investment
Nonresidential
_. _
Structures
Producers' durable equipment
Residential
Nonfarm structures
Farm structures
Producers' durable equipment
Change in business inventories
Nonfarm
Farm
_ .-
24, 272
16, 768
6,823
9,945
7,504
6,808
519
177
6,379
6,350
29
34,414
22, 889
7,573
15,316
11, 525
10, 527
697
301
—462
1,298
-1,760
Line
I
2
3
4
5
6
7
g
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Gross national product
Personal consumption expenditures
Durable goods _
Nondurable goods
Services
Gross private domestic investment
Government purchases of goods and
services.
Federal
National defense
Nondefense
State and local
.
1952
1953
1954
1955
1956
1957
286, 172
330, 183
347, 178
366 129
366 306
399 266
420 691
442 755
191, 966
207, 066
217 093
229 665
235 841
253 665
266 007
280 409
25, 047
94, 855
58, 233
30, 754
98, 226
62, 986
29, 814
108, 773
68, 479
29, 148
113,899
74, 046
32, 499
116 530
80, 636
31 840
117 951
86 050
38 621
122 933
92 111
37 887
128 900
99 2?0
39 334
135 154
105 921
45, 855
35, 277
53, 815
59, 180
52, 109
53 349
52 715
68 377
71 022
69 188
41, 147
26, 178
8,898
17, 280
14, 969
13, 766
873
330
4,708
2,976
1,732
38, 352
24, 283
8,551
15, 732
14, 069
12, 933
837
299
—3, 075
-2, 209
-866
47, 026
27, 137
9, 338
17,799
19, 889
18, 729
785
375
6,789
6,000
789
48, 884
31, 140
11,266
19, 874
17, 744
16, 557
816
371
10, 296
9,057
1,239
48, 976
31, 202
11, 508
19, 694
17,774
16, 639
767
368
3 133
2,146
987
52 902
34 301
12,770
21,531
18 601
17, 450
765
386
447
1 068
-621
54 258
33 978
13 166
20, 812
20 280
19, 178
711
391
— 1 543
—2 129
586
62 424
38 317
14 429
23, 888
24 107
23 041
634
432
5 953
5 486
467
66 327
43 720
17 377
26, 343
22 607
21 449
700
458
4 695
5 075
—380
67 853
46 674
18 113
28, 561
21 179
20 043
681
455
1 335
801
534
7, 572
11,610
6,511
6,219
1,898
3,838
2,394
591
1 990
2 218
4 270
6 072
14 811
7,239
19, 837
8,227
16, 882
10,371
15, 859
9,640
13, 914
12,016
18, 932
15, 094
18, 204
15, 810
17 145
16, 554
18 001
16,011
20 045
17 827
23 860
19 590
26 724
20 652
27,548
25,453
31,964
38,392
38,493
60,099
75,582
82,524
75,760
75,006
79,392
87,086
17, 617
14, 789
2,828
9,931
12, 698
9,048
3,650
12, 755
16,700
10, 668
6,032
15,264
20, 410
13, 187
7,223
17, 982
18, 724
13, 995
4,729
19, 769
38, 322
33, 487
4,835
21,777
52, 365
45, 838
6,527
23, 217
57, 530
48, 594
8,936
24, 994
47, 933
41,112
6,821
27, 827
44, 455
38, 446
6,009
30, 551
45 902
40 156
5,746
33 490
49
44
5
37
Net exports of goods and services
Exports
Imports
1951
964
017
947
122
[Billions of
19 47
19 46
Line
I
II
III
IV
I
II
19 48
III
IV
I
II
19<19
III
IV
I
II
III
IV
1
Gross national product
197.4
205.0
215.3
220.4
224.9
229.1
233.3
243.6
249.6
257.1
264.0
265.5
260.1
256.6
258.6
256.5
2
Personal consumption expenditures
134.5
139.6
148.4
152.7
156.0
159.9
163.5
167.6
170.3
174.0
176.9
177.8
176.6
178.2
177.6
180.1
12.6
78.9
43 0
14.7
80.6
44 4
17.1
85.1
46 2
18.7
86.3
47.7
19.4
87.7
48.8
20.0
90.1
49.9
20.3
92.1
51 1
22.0
93.6
52.0
22.0
95.1
53.2
22.4
97.0
54.6
23.7
97.0
56.2
23.3
97.3
57.2
22.8
96.3
57.5
24.8
95.3
58 1
25 8
93.5
58 3
26 8
94.3
59 0
24.5
31.5
32.6
34.0
32.7
31.6
31.8
39.7
43.3
46.1
47.9
46.1
39.3
32.7
35.7
33.4
18.6
13 0
5.6
7.3
5.7
22 7
15 5
69
8.6
7.2
6.5
.5
2
8.8
8.7
.1
26.5
18 2
7 4
10.8
8.3
7.6
.5
2
6.1
5.9
.2
29.3
20.4
7.4
13.0
8.9
8.0
.6
32.3
22.3
7.4
14.9
10.0
9.0
.6
.3
.4
1.5
— 1. 1
32.6
22.6
7.4
15.2
10.0
9.0
.7
.3
—1.0
1.5
—2.5
34.5
22.7
7.7
15.0
11.8
10.7
.7
.3
—2.7
—.3
— 2.4
38.3
23.9
7.8
16.1
14.4
13.3
.8
.3
1.4
2.4
— 1.0
40.0
25.5
8.2
17.3
14.5
13.4
.8
.3
3.3
2.3
1.0
41.0
25.4
8.7
16.7
15.6
14.4
.9
.3
5.1
2.9
2. 2
41.8
26.4
9.3
17.1
15.4
14.2
.9
.3
6.1
3.9
2. 2
41.8
27.4
9.4
18.0
14.4
13.1
.9
.4
4.3
2.8
1. 5
39.3
25.9
9.1
16.8
13.4
12.3
.9
.3
0
.6
—. 6
38.0
24.8
8.7
16.1
13.2
12.1
.8
.3
—5.3
—4.1
— 1. 2
37.4
23.5
8.3
15.2
14.0
12.9
.8
.3
—1.7
—.6
— 1. 1
38.6
23 0
8.1
14.9
15.7
14.6
.8
.3
—5.3
—4.7
—.5
3
4
5
6
7
g
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Durable goods
Nondurable goods
Services
-
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment.
Residential
Nonfarm structures
Farm structures
_
_
Producers' durable equipment
Change in business inventories
Nonfarm
Farm
.
5.1
.5
1
5.9
6.0
—.1
Net exports of goods and services
Exports
Imports
-
Government purchases of goods and
services.
Federal
National defense
Nondefense
State and local
_
9
4.7
4.8
—.1
6 9
7 7
8 9
6.9
11.6
12.1
12.6
10.2
8.3
6.2
6.0
5.6
7.5
7.3
6.2
3.9
13.7
6.8
14.9
7.2
16.2
7.3
14.5
7.6
19.4
7.8
20.6
8.5
20.5
7.9
18.8
8.7
18.2
9.9
16.6
10.3
16.8
10.8
16.0
10.4
17.5
10.0
17.1
9.8
15.5
9.3
13.3
9.5
31.6
26.2
25.5
26.9
24.6
25.4
25.5
26.1
27.7
30.7
33.2
36.0
36.7
38.4
39.1
39.2
22 6
20.4
2.2
8.9
16 8
14.4
2.3
9.4
15.3
12.0
3.3
10.2
15.8
12.3
3.5
11.1
12.6
9.4
3.2
12.0
13.1
8.9
4.2
12.4
12.6
8.6
4.0
12.9
12.6
9.3
3.3
13.6
13.7
9.8
3.9
14.0
15.9
10.3
5.6
14.8
17.6
10.6
7.0
15.7
19.7
12.0
7.7
16.3
19.8
12.7
7.0
16.9
20.7
13.4
7.4
17.7
20.7
13.6
7.0
18.5
20.5
13.1
7.4
18.7
SUEVEY OF CURRENT BUSINESS
Part I January 1976
51
National Product, and National Income
Seasonally Adjusted Quarterly Totals at Annual Rates, 1946-74
dollars]
1963
1964
563,817
594,738
635, 743
688, 110
752, 996
796,312
868, 465
935,541
982, 419 1, 063, 436 1, 171, 121 1,306,335 1, 406, 911
1
355,217
374,578
400,381
430, 154
464,793
490,358
535,932
579,711
618,796
668, 171
733, 034
808,549
885, 862
2
41, 573
155,286
138, 136
46,703
161, 561
146, 953
51, 432
167, 067
156, 079
56, 320
176, 929
167, 132
62,786
188, 626
178, 742
67, 663
204, 685
192, 445
69, 646
212,593
208, 119
79, 995
230, 359
225, 578
85, 478
247,036
247, 197
84, 931
264, 748
269, 117
97, 087
277, 686
293, 398
111,241
299, 347
322, 446
122, 933
334, 354
351, 262
121,938
375, 664
388, 260
3
4
5
76,444
74,335
85, 188
90,204
96, 604
112,015
124, 477
120,829
131,526
146, 200
140, 814
159,969
188,275
220,472
212, 218
6
72, 685
47, 703
18, 171
29,532
24, 982
23, 869
584
529
3,759
3,471
288
72, 143
47,096
18, 356
28, 740
25, 047
23, 823
703
521
2,192
1,918
274
78,683
51,248
19, 424
31,824
27, 435
26, 250
645
540
6,505
5,766
739
84, 241
53, 596
19, 578
34, 018
30, 645
29, 398
655
592
5,963
5,172
791
90, 806
59, 655
21, 462
38, 193
31,151
29, 851
672
628
5,798
6,388
-590
102,496
71,252
26, 109
45, 143
31, 244
29, 949
608
687
9,519
8,498
1,021
110, 157
81,417
29,237
52, 180
28, 740
27,375
673
692
14, 320
14, 480
-160
110,730
82,083
29, 494
52, 589
28, 647
27,239
697
711
10, 099
9,364
735
123, 821
89, 272
31, 592
57,680
34, 549
33, 089
628
832
7,705
7,601
104
136, 828
98, 949
35, 663
63,286
37, 879
36, 274
745
860
9,372
9,235
137
137, 039
100, 461
37, 661
62,800
36, 578
35, 131
565
882
3,775
3,666
109
153, 615
104, 060
39, 338
64,722
49, 555
47, 896
652
1,007
6,354
5,073
1,281
178, 833
116, 827
42, 543
74, 284
62,006
60,281
664
1,061
9, 442
8,832
610
202, 952
136, 477
48, 964
87,513
66, 475
64, 659
608
1,208
17, 520
14,051
3,469
202, 471
147, 916
54, 406
93, 510
54, 555
52,219
992
1,344
9,747
11,609
-1,862
7
8
9
10
11
12
H
14
15
16
17
1960
1961
1962
486,465
505,978
523,292
310,768
324,903
334, 995
36, 846
139,790
112, 825
42,436
146, 444
121, 888
43, 109
151,115
130, 679
61,916
77,552
63, 407
41, 619
16, 743
24, 876
21,788
20, 662
650
476
-1,491
-2, 339
848
72, 325
45, 297
17, 047
28, 250
27, 028
25, 784
674
570
5,227
5,313
-86
1958
1959
448,881
289,461
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
Line
2,464
559
4,372
5,806
5,378
6,295
8,948
7,591
5,060
4,937
2,280
1,753
3,946
1,562
-3,293
7,368
7,746
IS
23, 286
20, 822
23, 725
23, 166
27, 595
23, 223
28, 882
23,076
30,607
25, 229
32,709
26, 414
37, 393
28,445
39, 548
31, 957
42, 773
37,713
45, 561
40, 624
49, 933
47, 653
54, 699
52, 946
62, 468
58, 522
65, 595
64,033.
72, 656
75, 949
101,519
94, 151
144, 224
136, 478
IS
2C
95, 040
97, 586
100,259
108, 156
118,034
123, 661
129, 810
138,350
158, 666
180, 188
198,727
207,877
218, 863
233, 734
253, 105
269, 946
301,085
21
53, 904
45, 565
8,339
41, 136
53, 890
45, 597
8,293
43, 696
57, 370
46, 995
10, 375
50, 786
63, 738
51, 052
12, 686
54, 296
64, 631
50, 296
14, 335
59, 030
65, 218
49, 048
16, 170
64,592
78, 833
60,330
18, 503
79, 833
90, 924
71, 462
19, 462
89, 264
98, 019
76, 868
21,151
100, 708
97, 461
76, 272
21, 189
110,416
95, 642
73, 537
22, 105
123, 221
96, 220
70, 230
25, 990
137,514
102, 126
73, 513
28, 613
150, 979
101, 981
73, 370
28, 611
167, 965
111,692
77, 380
34, 312
189, 393
25
22
2'
21
53,711
44,451
9,260
46, 548
67, 268
49, 443
17, 825
71, 082
dollars]
195 0
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
267.4
276.9
294.5
305.9
319.9
327.7
334.4
338.5
341.1
341.3
347.0
359.2
365.4
182.9
186.8
200.4
197.8
208.3
203.8
206.2
209 9
211 1
215.1
217.2
225.0
228.3
27.7
94.8
60.3
28.1
96.3
62.3
35.6
100.9
63.9
31.5
100.9
65.4
33.8
107.6
66.9
28.9
107.1
67.9
28.3
109.0
69.0
28.3
111.4
70.1
28.9
110.8
71.5
29.0
113.0
73.1
27.3
115.0
74.9
31.4
116.9
76.7
43.6
50.5
55.4
65.6
60.7
63.9
58.7
53.4
54.1
47.5
51.1
3
2.4
2.2
.2
45.8
26.0
8.9
17.1
19.8
18.6
8
4
4.8
4.2
6
50.6
28.9
9.6
19.4
21.6
20.5
8
4
4.9
3.8
1i
50.6
30.0
10.4
19.6
20.6
19.4
8
4
15.1
13.8
1.2
50.2
30.2
10.8
19.4
20.0
18.8
8
4
10.5
9.3
1 2
48.7
31.1
11.5
19.7
17.6
16.4
8
4
15.2
14.0
1 2
48.3
31.8
11.6
20.2
16.5
15 3
8
4
10.4
9.1
12
48.3
31.4
11.2
20.2
16.8
15.7
8
4
5.1
3.8
1.3
48.9
31.7
11.3
20.4
17.2
16.1
8
.3
5.2
4.0
1 *)
49.9
32.2
11.4
20.8
17.7
16.5
8
.4
-2.3
-3.3
1 0
46.8
29.1
11.5
17.7
17.7
16.6
8
.3
4.3
3.3
.9
3.2
2.7
.6
1.1
1.3
3.3
5.1
5.7
5.0
3.2
1.2
41.2
23.6
8.5
15.1
17.6
16.5
H
1954
1953
19£
19 51
II
1955
II
III
IV
I
362.6
362.0
361.8
366.2
375.0
387.5
395.4 404.0 410.2
230.0
231.9
234.3
236.4
240.8
246.8
251 9 256.0 260.0
32.5
116.2
81.8
31.9
116.0
82.1
31.2
117.1
83.6
31.8
117.1
85.3
31.3
118.1
87.0
33.0
119.5
88.3
36.2
120.5
90.1
38.6 40.3 39.4
122. 2 123.3 125.7
91.1 92.4 94.9
56.1
54.2
48.2
49.5
50.4
53.1
57.8
63.5
67.9
70.1
72.0
6
53.0
34.0
12.7
21.3
19.0
17.8
8
4
3.2
4.1
— .9
53.5
35.1
12.9
22.1
18.4
17.3
8
.4
.7
1.5
— .8
52.8
34.6
13.1
21.4
18.2
17.1
8
.4
-4.5
-4.3
— .2
52.1
33.7
13.2
20.6
18.3
17 2
53.1
33.6
13.1
20.4
19.5
18.4
.4
-2.5
-2.8
2
.4
-2.7
-3.2
.5
55.3
34.3
13.2
21.1
21.0
19.9
.7
.4
-2.2
-2.8
.6
56.6
34.3
13.2
21.1
22.3
21.2
.7
.4
1.3
2
10
58.9
34.8
13.6
21.1
24.1
23.0
.7
.4
4.6
3.8
.8
61.9
37.2
14.1
23.1
24.7
23.6
.6
.4
6.1
5.7
.3
64.0
39.7
14.7
25.0
24.3
23.3
.6
.4
6.0
5.5
.5
64.9
41.6
15.3
26.3
23.3
22.3
6
.4
7.1
6.8
.3
7
8
9
10
11
12
13
14
15
16
17
.2
.7
1.0
1.2
1.8
2.1
2.9
2.9
1.5
2.4
2.0
18
20.8
18.7
19
20
IV
368.8
367.8
229.9
230.5
32.9
117.0
78.4
32.8
116.9
80.2
55.7
54.8
50.3
31.8
11.9
19.9
18.5
17.4
8
.4
5.4
4.6
8
52.4
33.5
12.3
21.3
18.9
17.7
8
.4
2.4
3.0
-.6
.2
.5
II
Line
I
III
III
IV
1
3
4
5
13.1
9.9
13.3
10.6
14.0
13.4
15.2
14.1
16.6
15.4
19.0
15.7
19.9
14.8
20.2
14.5
20.4
15.4
18.4
15.2
17.0
15.8
17.1
16.9
16.9
16.3
17.1
17.0
17.5
16.8
17.1
16.1
16.5
15.4
18.5
16.8
18.0
15.9
19.0
16.0
19.6
16.7
19.3
17.8
20.5
18.1
37.7
36.9
38.0
41.4
49.6
56.7
64.4
69.6
70.9
75.5
77.5
78.3
81.7
82.6
82.4
83.4
79.5
75.4
74.6
73.4
74.3
74.1
75.4
76.2
21
18.6
12.4
6.1
19.1
17.4
12.5
4.9
19.4
18.0
14.1
4.0
20.0
20.9
16.9
3.9
20.5
28.7
24.0
4.7
20.9
35.1
30.3
4.8
21.6
42.3
37.7
4.6
22.1
47.2
42.0
5.2
22.4
48.3
42.4
6.0
22.6
52.2
45.6
6.6
23.3
54.3
46.9
7.4
23.1
54.6
48.5
6.1
23.8
57.2
49.1
8.1
24.5
58.1
49.5
8.7
24.4
57.2
48.3
8.9
25.1
57.6
47.5
10.1
25.8
52.8
44.3
8.5
26.7
48.0
41.9
6.1
27.4
46.2
39.8
6.4
28.4
44.8
38.4
6.3
28.7
44.5
38.6
5.9
29.8
43.7
38.1
5.6
30.3
44.7
39.1
5.6
30.7
44.9
38.0
6.9
31.3
22
23
24
25
SUEVEY OF CURRENT BUSINESS
52
Part I January 1976
Table 1.1.—Gross National Product: Annually, 1946-74, and
[billions
1957
1956
1958
1959
Line
II
III
IV
II
III
IV
II
III
IV
II
III
IV
Gross national product.
411.9
417.4
422.4
430.9
438.9
441.0
448.2
442.8
435.8
439.9
453.1
466.3
476.0
489.9
486.5
493.5
Personal consumption expenditures.
261.4
263.9
266.8
271.9
276.1
278.3
282.8
284.4
284.0
286.8
291.7
295.4
303.5
309.1
314.2
316.2
37.6
127.2
96.5
37.6
128.1
98.1
37.3
129.4
100.1
38.9
130.8
102.1
40.0
132.5
103.6
39.5
133.9
104.9
39.1
137.2
106.5
38.8
136.9
108.7
36.8
137.6
109.6
36.0
138.9
111.9
36.7
140.8
114.2
38.0
141.9
115.5
41.2
144.3
118.0
43.0
145.6
120.5
43.9
147.1
123.2
41.6
148.7
125.9
Durable goods
Nondurable goods..
Services
Gross private domestic investment-
70.8
70.4
71.3
71.6
69.8
69.8
71.8
65.4
57.8
56.5
62.5
70.4
74.2
83.2
73.6
79.2
Fixed investment
Nonresidential
Structures
Producers' durable equipment _
Residential
Nonfarm structures
Farm structures
Producers' durable equipment _
Change in business inventories.._
Nonf arm
Farm
64.8
42.0
16.6
25.4
22.7
21.6
.7
.5
6.0
6.6
-.5
66.1
43.1
17.2
25.9
23.0
21.8
.7
.5
4.3
5.2
-.9
67.2
44.6
17.8
26.8
22.6
21.4
.7
.5
4.1
4.4
-.3
67.3
45.2
18.0
27.2
22.1
21.0
.7
.4
4.3
4.1
.2
67.8
46.1
18.0
28.2
21.6
20.4
.7
.5
2.1
2.0
.1
67.5
46.3
18.2
28.1
21.2
20.0
.7
.5
2.3
2.0
.3
68.6
47.6
18.2
29.3
21.0
19.9
.7
.4
3.2
2.5
.7
67.6
46.7
18.1
28.6
20.9
19.8
.7
.5
-2.2
-3.3
1.1
63.2
42.9
17.3
25.5
20.4
19.4
.7
.3
-5.4
-6.3
.9
61.6
41.2
16.8
24.4
20.5
19.4
.6
.4
-5.1
-5.9
.8
62.4
40.5
16.3
24.1
22.0
20.8
.6
.5
.1
66.3
42.0
16.5
25.5
24.4
23.1
.7
70.2
43.4
16.4
27.0
26.9
25.6
4.1
3.3
4.0
4.0
.0
72.8
45.0
17.0
28.0
27.8
26.5
.7
.6
10.4
10.5
-.1
73.6
46.4
17.4
29.0
27.2
26.0
.7
.5
.0
.2
-. 1
72.7
46.4
17.4
29.0
26.3
25.1
.7
.5
6.5
6.7
-. 1
2.4
Net exports of goods and servicesExports
Imports
Government purchases of goods and
services.
2.5
3.9
4.6
6.1
6.8
6.4
6.2
5.0
2.9
22.1
19.6
23.5
19.6
24.5
19.9
25.3
19.2
27.6
20.8
27.3
20.9
26.7
20.5
25.3
20.4
23.1
20.3
79.7
81.3
86.2
86.6
87.5
88.1
91.2
45.8
40.2
5.6
33.9
46.7
41.9
4.8
34.6
50.3
43.3
7.0
35.9
49.9
43.9
6.0
36.7
50.1
44.6
5.5
37.5
49.6
44.3
5.3
38.5
51.6
44.5
7.2
39.5
77.2
46.2
40.3
5.9
33.1
44.9
38.3
6.6
32.3
Federal
National defense.
Nondefense
State and local
2.8
1.8
.4
-.4
1.2
1.1
23.4
20.5
23.4
21.6
22.6
22.2
22.9
23.4
24.9
23.7
24.5
23.4
94.2
96.1
98.7
.97.8
98.0
97.5
97.0
53.6
45.4
8.2
40.6
54.4
45.9
8.5
41.7
55.9
46.5
9.4
42.7
54.3
46.1
8.1
43.6
54.3
45.5
8.8
43.7
53.7
45.6
8.1
43.8
53.3
45.1
8.1
43.7
1967
1966
1968
Line
III
IV
III
II
IV
III
IV
_
733.7
759.0
771.7
777.5
785.8
803.1
818.7
837.3
861.8
880.0
894.7
Personal consumption expenditures.
455.9
460.3
469.1
473.9
478.6
487.6
494.2
501.1
517.6
528.5
544.5
553.1
68.4
200.5
187.0
65.7
203.9
190.6
68.2
206.8
194.1
68.4
207.4
198.0
209.6
202.2
70.2
211.2
206.2
70.3
213.4
210.5
71.2
216.2
213.7
76.5
223.0
218.2
78.1
227.6
222.8
82.3
233.9
228.3
83.1
237.0
233.0
Gross national product._
Durable goods
Nondurable goods_
Services
Gross private domestic investment..
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Nonfarm structures
Farm structures
Producers' durable equipment
Change in business inventories
Nonfarm
Farm
—
Net exports of goods and services _
Exports..
Imports.
Government purchases of goods and
services.
Federal
National defense.
Nondefense
State and local
747.6
121.8
126.7
123.7
125.7
118.6
115.5
121.7
127.5
125.1
131.9
110.3
79.2
28.9
50.3
31.2
29.6
.8
.7
11.5
10.7
.9
111.4
81.2
29.0
52.2
30.2
29.0
.4
.7
15.3
15.5
-.2
110.7
82.4
29.8
52.5
28.4
27.0
.7
.7
13.0
13.4
-.4
108.2
82.9
29.2
53.7
25.3
23.9
.8
.7
17.5
18.3
-.9
106.3
81.2
29.6
51.6
25.0
23.6
.8
.7
12.3
12.2
.1
109.4
81.6
29.1
52.5
27.8
26.5
.6
.7
6.1
5.4
.7
111.5
81.8
29.7
52.1
29.7
28.4
.6
.7
10.3
9.3
1.0
115.8
83.7
29.6
54.1
32.1
30.5
119.8
86.8
31.2
55.6
33.0
31.5
121.4
87.1
31.2
55.8
34.3
33.0
11.7
10.6
1.1
5.3
5.1
.2
10.5
10.4
.1
136.8
124.3
89.7
31.2
58.5
34.6
33.1
.6
.8
8.0
7.9
.1
129.8
93.5
32.7
60.9
36.2
34.7
.6
.9
7.1
7.0
.1
6.1
5.3
4.2
4.6
5.2
5.2
5.3
4.0
1.7
3.3
3.1
1.0
41.7
35.6
42.0
36.7
43.2
39.1
44.2
39.5
45.3
40.1
44.9
39.7
45.7
40.4
46.4
42.4
47.1
45.4
50.1
46.8
52.4
49.3
50.1
49.1
149.9
155.2
162.1
167.5
175.2
177.5
181.9
186.2
192.9
198.1
200.2
203.7
73.6
55.1
18.5
76.2
76.8
58.4
18.3
78.5
81.5
62.7
18.8
80.6
83.5
65.0
18.4
84.0
69.4
19.2
86.6
89.4
70.4
18.9
88.2
92.1
72.5
93.7
73.5
20.2
92.5
96.2
76.1
20.0
96.7
98.5
77.2
21.3
99.6
98.6
76.7
21.9
101.6
98.7
77.4
21.3
104.9
SURVEY OF CURRENT BUSINESS
Part I January 1976
53
Seasonally Adjusted Quarterly Totals at Annual Rates, 1946-74—Continued
of dollars]
1962
1961
1960
1963
1964
1965
Line
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
506.6
506.5
506.2
504.6
507.1
518.2
527.2
540.7
553.0
562.1
567.8
572.3
580.2
587.9
600.5
363.4
367.2
371.2
377.8
51.9
168.3
157.7
52.9
168.8
160.4
IV
I
II
III
IV
I
610.4
622.4
632.4
642.1
646.0
665.4
678.7 695.1 713.3
1
382.1
390.5
397.8
405.7
407.5
417.7
424.1 432.7 446.1
2
55.0
172.7
162.9
56.3
175.7
165.7
58.1
179.1
168.5
56.0
180.1
171.4
61.4
182.6
173.7
61.3 63.1 65.3
186.0 189.5 196.5
176.9 180.1 184.3
3
4
5
II
III
IV
319.8
325.9
326.0
328.0
328.5
333.1
335.7
342.7
347.5
353.0
357.0
43.0
148.8
128.0
43.9
151.8
130.2
43.4
151.4
131.2
42.2
152.5
133.3
39.7
153.9
135.0
40.7
154.7
137.6
41.9
155.2
138.6
44.0
157.4
141.4
45.0
159.3
143.2
46.3
160.6
146.1
46.8
162.2
148.0
48.8
164.1
150.5
49.8
165.2
152.1
51.1
165.9
154.1
86.8
77.7
73.5
67.7
66.8
72.7
77.7
80.1
84.6
86.2
86.4
83.6
86.0
88.9
92.3
93.6
94.0
96.4
97.4
98.6
109.2
110.1 114.3
114.5
6
75.5
48.3
18.3
30.0
27.2
26.0
7
*;
11.3
11.1
1
73.4
48.6
17.9
30.7
24.8
23.8
5
5
4.3
4.0
3
71.2
47.2
17.9
29.3
24.0
22.8
.6
5
2.4
1.9
4
70.7
46.8
18.6
28.2
23.9
22.8
.6
5
-2.9
-3.2
3
69.8
45.7
18.5
27.2
24.1
22.8
.7
5
-3.0
-3.2
2
71.1
46.8
18.3
28.6
24.3
23.1
.6
.5
1.6
1.4
.2
72.6
47.1
18.3
28.8
25.5
24.4
.5
.5
5.1
4.8
.3
75.1
48.7
18.3
30.4
26.4
24.9
1.0
.5
5.0
4.7
.3
76.3
49.8
18.6
31.2
26.5
25.4
.6
.5
8.3
7.7
.6
79.1
51.4
19.4
32.0
27.6
26.5
.6
.5
7.1
6.4
.7
80.0
52.1
20.1
32.0
27.8
26.6
.7
.6
6.4
5.6
.8
79.4
51.7
19.7
32.0
27.7
26.5
.7
.6
4.1
3.3
.8
80.1
51.4
18.8
32.6
28.8
27.5
.7
.6
5.8
5.0
.9
83.6
52.9
19.7
33.2
30.8
29.4
.7
.6
5.3
4.4
.9
85.1
54.3
19.8
34.5
30.8
29.7
.5
.6
7.2
6.4
.8
88.1
55.9
20.0
35.8
32.2
30.9
.7
.6
5.6
4.9
.6
89.4
56.9
20.2
36.7
32.4
31.0
.8
.6
4.7
5.1
-.4
89.9
58.7
21.2
37.5
31.2
30.0
.6
.6
6.4
7.0
-.6
91.3
60.6
21.9
38.7
30.7
29.5
.6
.6
6.0
6.8
—.7
92.6
62.3
22.5
39.9
30.2
29.0
.6
6
6.1
6.7
-.6
98.1
66.8
23.8
42.9
31.3
29.9
.8
7
11.1
10.5
.6
101.2 103.8
69.6 72.5
25.9 26.4
43.7 46.2
31.5 31.3
30.4 29.9
7
.4
7
7
9.0 10.4
8.0
9.1
10
13
106.9
76.1
28.3
47.8
30.8
29.6
5
7
7.6
6.4
12
7
8
9
10
11
12
13
14
15
16
17
2.8
3.6
5.0
6.2
6.8
5.6
5.3
5.5
4.8
6.1
5.7
5.0
5.0
6.6
6.0
7.5
9.5
8.3
9.0
8.9
6.8
8.8
8.1
6.7
18
26.4
23.7
27.4
23.9
28.2
23.3
28.3
22.1
28.9
22.1
27.9
22.3
29.0
23.7
29.8
24.2
29.4
24.6
31.2
25.2
31.1
25.4
30.7
25.8
30.5
25.4
32.7
26.2
33.0
27.0
34.6
27.1
36.9
27.3
36.4
28.1
37.8
28.8
38.6
29.6
35.5
28.7
41.1
32.4
40.7
32.6
40.8
34.1
19
20
97.3
99.3
101.8
102.7
105.0
106.8
108.4
112.3
116.1
116.8
120.4
122.0
121.3
124.3
127.1
128.3
130.0
130.0
130.9
131.7
135.7 140.1 146. 0
21
52.3
43.9
8.4
44.9
53.1
43.8
9.3
46.2
54.6
44.8
9.8
47.2
54.8
45.3
9.5
47.9
55.3
46.0
9.3
49.7
56.9
46.7
10.3
49.9
57.7
46.8
10.8
50.8
59.6
48.5
11.1
52.7
63.0
50.9
12.1
53.1
64.8
50.9
13.9
55.6
64.9
50.2
14.7
57.1
64.5
50.2
14.3
59.8
65.9
50.3
15.6
61.2
65.9
49.8
16.0
62.4
65.8
49.5
16.3
64.2
64.7
48.9
15.8
65.3
64.5
47.9
16.6
66.4
63.9
47.1
16.9
67.8
63.0
51.3
11.7
53.8
1970
1969
118.8
64.1
51.1
13.1
54.7
63.3
50.5
12.8
58.0
1972
1971
65.8
48.3
17.5
69.9
1973
67.6
49.3
18.2
72.5
71.8
53.1
18.7
74.1
22
23
24
25
1974
Line
I
II
III
IV
964.2
976.5
992.6
996.3 1,034.0 1, 056. 2 1, 072. 4 1,091.2 1, 127. 0 1, 156. 7 1,181.4 1, 219. 4 1, 265. 0 1, 287. 8 1 ,319.7 1 ,352.7 1 ,370.9 1 ,391.0 , 424. 4 1,441.3
606.4
615.2
625.1
628.4
648.6
662.9
674.1
687.1
705.9
724.7
739.7
761.8
785.7
800.5
818.4
829.5
849.5
877.8
907.7
908.4
2
84.8
259.0
262.6
86.2
262.4
266.6
86.7
266.4
272.1
82.1
271.2
275.1
92.8
272.4
283.4
95.9
276.7
290.3
97.7
278.9
297.5
102.0
282.7
302.4
106.0
287.6
312.3
109.2
296.4
319.1
112.2
302.2
325.3
117.6
311.2
333.0
124.8
321.4
339.5
124.4
328.0
348.2
123.7
339.6
355.2
118.9
348.5
362.2
118.4
359.8
371.2
123.1
371.9
382.8
128.9
383.9
394.9
117.3
387.1
404.0
3
4
5
138.6
140.3
143.3
136.0
99.9
36.8
63.2
36 1
34.7
6
.8
2.5
2.4
1
136.2 137.5
101.3 101.7
38.0
37.6
63.7
63.7
34.9
35.8
34.4
33.6
.4
.5
.9
.9
4.2
5.8
4.0
5.7
1
1
III
IV
913.0 929.0
946.9
953.3
563.8 574.1
584.5
596.4
84.8 85.3
240.8 244.9
238.2 243.9
85.5
249.0
249.9
86.2
253.4
256.8
144.0 147.2
150.5
143.2
135.3 136.5
96.7 97.7
33.9 34.8
62.8 62.9
38 5 38 8
36.8 37.3
q
5
q
.9
8.7 10.7
8.6 10.5
1
1
138.6
100.4
36.8
63.6
38.2
36.3
10
.9
11.9
11.8
1
137.0
100.9
37.1
63.8
36.1
34.7
.5
.8
6.2
6.1
1
.9
2.7
2.3
3.9
56.0
55.1
57.4
54.8
58.2
55.9
204.1 206.7
209.2
97.2 97.1
75.3 75.6
21.9 21.5
107.0 109.7
97.9
77.1
20.7
111.4
I
1.1
47.2
46.0
II
I
II
III
II
III
IV
II
I
III
IV
I
II
III
IV
1
141.0
152.7
160.8
161.0
165.4
176.7
184.9
191.0
200.5
211.7
217.1
221.2
231.9
218.4
212.7
207.6
210.3
6
138.4
98.9
38.3
60.6
39.5
37.8
.7
.9
2.6
2.5
1
145.2
102.3
38.7
63.6
42.9
41.4
.5
1.0
7.5
5.8
17
151.2
102.7
39.1
63.6
48.5
46.9
.6
1.0
9.6
8 4
12
156.2
104.1
39.7
64.4
52.1
50.3
8
1.0
4.8
35
13
161.9
107.1
39.8
67.4
54.8
53.0
.7
1.1
3.5
2 6
g
171.9
112.2
41.6
70.6
59.7
58.0
.7
1.0
4.7
4.0
174.8
114.2
42.0
72.2
60.6
58.9
6
1.1
10.1
9.3
8
178.8
117.0
42.5
74.5
61.8
60.1
.7
1.0
12.1
11.7
189.7
123.8
44.0
79.9
65.9
64.2
.6
1.1
10.8
10.3
5
199.3
131.0
46.3
84.8
68.2
66.4
.7
1.2
12.4
10.1
2 3
202.8
134.5
47.7
86.7
68.3
66.6
205.6
138.5
50.3
88.2
67.0
65.2
.6
1.2
15.6
11.0
4 6
204.2
141.8
51.5
90.4
62.4
60.4
1 2
27.7
24.0
37
203.5
145.9
53.4
92.5
57.6
55.3
1.0
1.3
14.9
14.1
7
203.4
146.6
54.1
92.4
56.9
54.6
.9
1.4
9.3
11.0
—1 7
203.1
148.1
54.0
94.1
55 0
52.7
9
1.4
4.4
7 6
—3 2
199.8
151.1
56.1
95.0
48 7
46.3
12
1.3
10.4
13.7
— 3.2
7
8
9
10
11
12
13
14
15
16
17
2.7
3.9
1.4
1.9
<j
-4.6
-4.1
-2.3
-2.1
2.0
12.8
15.6
4.0
3.2
8.2
18
62.4
63.3
19
20
4.4
4.7
61.3
57.3
62.9
58.5
63.4
58.7
62.3
59.6
65.1
61.2
66.6
65.3
68.2
66.3
211.4
215.3
216.5
219.4
224.2
228.8
231.1
235.5
97.8
77.0
20.7
113.6
97.9
75.8
22.1
117.4
95.6
72.9
22.6
121.0
94.0
72.7
21.3
125.4
95.1
72.7
22.4
129.1
95.9
72.0
23.9
132.9
94.9
70.1
24.8
136.2
96.4
68.9
27.6
139.0
I
IV
e
1.2
14.3
11.0
33
•7
4.5
10.2
69.1
73.7
69.2
73.3
73.4
75.7
79.0
81.1
89.4
87.4
96.6
92.1
105.2
95.0
114.9
102.0
133.1
117.5
141.6
137.6
148.6
145.5
153.6
145.3
239.6
249.0
251.1
253.0
259.2
265.7
265.7
270.0
278.4
287.5
296.5
305.9
314.4
21
97.6
70.0
27.7
142.0
103.1
74.7
28.5
145. 9
102.8
74.4
28.4
148.4
100.3
71.7
28.6
152.7
102.3
73.3
29.0
157.0
104.1
74.0
30.1
161.6
99.9
73.0
27.0
165.8
100.0
72.3
27.6
170.0
104.0
74.2
29.8
174.5
106.1
74.8
31.4
181.4
108.9
75.8
33.0
187.6
113.6
78.4
35.1
192.3
118.2
80.5
37.7
196.3
22
23
24
25
SUEVEY OF CUEEENT BUSINESS
54
Part I January 1976
Table 1.2.—Gross National Product in Constant Dollars: Annually, 1946-74,
[Billions of
1948
1947
1946
Line
1955
1956
1957
598.5
621.8
613.7
654.8
668.8
680.9
342.3
350.9
364.2
370.9
395.1
406.3
414.7
33.1
155.0
124.6
36.3
157.4
126.4
43.4
161.8
132.8
165.3
137.1
38.9
171.2
140.8
43.1
175.7
145.5
43.5
177.0
150.4
52.2
185.4
157.5
49.8
191.6
164.9
49.7
194.9
170.2
70.1
82.3
65.6
93.7
94.1
83.2
85.6
83.4
104.1
102.9
97.2
70.4
48.9
17.3
31.6
21.5
19.8
1.3
.3
2
1.7
-1.9
76.8
51.0
18.4
32.7
25.8
23.9
1.5
.3
5.5
4.4
1.1
70.0
46.0
17.8
28.2
24.0
22.3
1.4
.3
-4.4
-3.9
-.5
83.2
50.0
19.1
30.9
33.2
31.5
1.3
.3
10.6
9.2
1.4
80.4
52.9
20.6
32.3
27.5
25.9
1.3
.3
13.7
12.1
1.6
78.9
52.1
20.6
31.5
26.8
25.3
1.2
.3
4.3
3.1
1.2
84.1
56.3
22.5
33.8
27.8
26.3
1.2
.3
1.5
1.7
2
85.6
55.4
23.5
31.8
30.2
28.8
1.1
.3
-2.2
-3.1
.9
96.3
61.2
25.3
35.9
35.1
33.8
.9
.4
7.7
7.3
.4
97.1
65.2
28.1
37.1
31.9
30.4
1.0
.4
5.8
6.6
-.8
95.7
66.0
28.1
37.9
29.7
28.3
1.0
.4
1.5
30.6
154.8
120.8
71.0
58.8
42.0
18.8
23.2
16.8
15.5
1.1
.2
12.2
12.5
-.3
11.6
16.6
4.0
7.4
4.9
2.0
4.5
4.7
7.3
8.9
26.1
14.6
30.2
13.6
24.2
15.7
24.2
15.4
21.7
17.7
25.9
18.5
24.9
20.0
23.8
21.8
25.3
20.8
27.9
23.2
32.3
25.0
34.8
26.0
75.4
84.1
96.2
97.7
132.7
159.5
170.0
154.9
150.9
152.4
160.1
36.1
39.3
42.4
41.8
48.9
47.4
47.0
50.7
81.3
51.3
107.0
52.5
114.6
55.4
95.2
59.7
86.9
64.0
85.9
66.5
70.3
Government purchases of goods and services.
Federal
State and local.
1954
576.5
25.8
158.9
116.7
Exports.
Imports..
1953
338.1
306.2
Net exports of goods and services.
1952
533.5
468.3
301.4
Fixed investment
Nonresidential
Structures
Producers' durable equipment.
Residential
Nonfarm structures
Farm structures
Producers' durable equipment.
Change in business inventories
Nonfarm
Farm
1951
320.0
477.6
Gross private domestic investment..
1950
490.7
Gross national product.
Personal consumption expenditures
Durable goods
Nondurable goods..
Services..
487.7
1949
59.0
34.8
1948
1947
1949
1950
Line
Gross national product
Personal consumption expenditures..
Durable goods
Nondurable goods _
Services
Gross private domestic investment..
Fixed investment
Nonresidential
Structures
Producers' durable equipment.
Residential
Nonfarm structures
Farm structures
Producers' durable equipment.
Change in business inventories
Nonfarm
Farm
Net exports of goods and servicesExports..
Imports..
Government purchases of goods and £
ices.
Federal.
State and local.
II
III
IV
II
III
IV
II
III
IV
II
III
IV
464.0
467.5
468.0
473.7
477.3
490.8
495.9
490.9
488.9
493.4
489.2
511.5
525.1
542.4
554.6
302.7
307.3
307.6
307.2
309.3
312.5
313.1
316.1
316.5
320.5
320.0
323.1
328.3
334.3
348.9
340.8
29.4
153.0
120.3
29.9
155.8
121.6
30.3
156.3
121.0
32.7
154.1
120.4
32.7
154.0
122.6
32.7
155.6
124.2
33.5
154.1
125.5
33.5
156.4
126.2
33.0
157.2
126.3
36.3
157.5
126.8
37.5
156.3
126.1
38.3
158.4
126.3
39.6
160.1
128.6
40.0
161.7
132.6
49.9
164.4
134.5
44.2
161.0
135.6
69.7
66.6
66.7
77.5
81.2
83.0
83.5
81.4
71.5
61.8
66.0
63.0
79.8
90.0
96.2
109.0
69.6
67.6
48.8
17.3
31.5
18.7
17.2
1.3
69.5
48.0
17.4
30.6
21.5
19.9
1.3
.3
-2.9
-.2
-2.7
74.7
49.0
77.1
51.6
17.4
34.2
25.5
23.8
1.4
.3
4.1
3.5
.6
77.4
50.4
18.2
32.1
27.0
25.2
1.5
.3
5.6
4.2
1.3
76.6
50.4
18.8
31.6
26.2
24.3
1.6
.3
6.9
5.6
1.3
76.1
51.8
19.1
32.8
24.2
22.4
1.6
.3
5.3
4.3
1.0
71.8
49.3
18.6
30.7
22.5
20.7
1.5
.3
-.3
.0
68.9
46.8
18.2
28.5
22.2
20.4
1.4
.3
-7.1
-6.4
-.7
68.5
44.4
17.4
27.0
24.1
22.5
1.4
.3
-2.5
-1.8
-.7
70.6
43.5
17.0
26.5
27.1
25.4
1.4
.3
-7.7
-7.3
-.4
75.4
44.8
17.9
26.9
30.5
28.8
1.4
.3
4.4
4.0
.5
82.3
48.9
18.7
30.2
33.4
31.7
1.3
.4
7.7
6.6
1.1
88.2
53.0
19.6
33.4
35.2
33.6
1.3
.4
8.0
6.1
1.9
86.9
53.3
20.3
33.0
33.5
31.9
1.3
.4
22.1
20.1
2.0
49.8
17.6
32.2
19.8
18.2
1.3
.3
.1
1.3
-1.2
1.9
-2.8
17.0
32.0
25.7
24.1
1.4
.3
2.7
3.8
-1.0
A
17.2
17.6
17.7
13.8
10.7
8.0
7.7
7.5
10.5
10.2
9.0
5.7
5.2
5.1
2.4
3.4
30.8
13.6
31.4
13.7
30.7
13.0
27.7
13.9
26.0
15.3
23.6
15.6
23.9
16.2
23.2
15.6
25.9
15.4
25.7
15.5
24.1
15.1
21.1
15.4
21.1
15.9
21.6
16.5
21.9
19.5
22.4
19.0
74.5
75.9
76.0
75.2
76.0
82.5
86.5
90.9
92.5
96.4
97.5
98.2
95.8
94.9
101.5
36.5
38.0
37.1
38.8
36.3
39.7
34.9
40.4
35.7
40.3
41.2
41.3
44.5
42.0
47.9
43.0
45.1
50.7
44.1
50.8
50.6
50.9
49.9
48.5
48.1
49.4
SURVEY OF CURRENT BUSINESS
Part I January 1976
55
and Seasonally Adjusted Quarterly Totals at Annual Rates, 1947-74
1972 dollars]
1962
1961
1960
1959
1958
1964
1963
1966
1965
1967
1968
1969
1970
1971
1972
1973
1974
Line
679.5
720.4
736.8
755.3
799.1
830.7
874.4
925.9
981.0
1, 007. 7
1,051.8
1,078.8
1,075.3
1, 107. 5
1, 171. 1
1,233.4
1,210.7
1
419.0
441.5
453.0
462.2
482.9
501.4
528.7
558.1
586.1
603.2
633.4
655.4
668.9
691.9
733.0
766.3
759.8
2
46.4
196.8
175.8
51.8
205.0
184.7
52.5
208.2
192.3
50.3
211.9
200.0
55.7
218.5
208.7
60.7
223.0
217.6
65.7
233.3
229.7
73.4
244.0
240.7
79.0
255.5
251.6
79.7
259.5
264.0
88.2
270.2
275.0
91.9
276.4
287.2
88.9
282.7
297.3
98.1
287.5
306.3
111.2
299.3
322.4
120.9
309.6
335.8
112.5
303.0
344.4
3
4
5
87.7
107.4
105.4
103.6
117.4
124.5
132.1
150.1
161.3
152.7
159.5
168.0
154.7
166.8
188.3
207.4
180.0
6
109.3
70.9
30.8
40.1
38.4
36.9
116.8
73.5
30.8
42.7
43.2
41.7
124.8
81.0
33.3
47.7
43.8
42.2
138.8
95.6
39.6
56.0
43.2
41.6
144.6
106.1
42.5
63.6
38.5
36.9
140.7
103.5
41.1
62.4
37.2
35.5
150.8
108.0
42.0
66.1
42.8
41.1
157.5
114.3
44.0
70.3
43.2
41.5
150.4
110.0
42.8
67.2
40.4
38.9
160.2
108.0
41.7
66.3
52.2
50.5
178.8
116.8
42.5
74.3
62.0
60.3
191.4
131.3
45.3
85.9
60.1
58.4
172.2
127.5
42.7
84.9
44.7
42.6
7
11.3
10.1
1. 2
16.7
16.9
2
16.0
13.6
7. 7
101.0
62.9
26.8
36.1
38.1
36.5
89.6
58.9
26.4
32.5
30.6
29. 2
!9
.5
1.0
.6
6.5
6.4
.0
-1.8
-2.9
1.0
100.7
65.6
29.3
36.3
35.1
33.6
101.0
66.0
28.8
37.2
35.0
33.7
.8
.7
.9
.7
7.3
7.9
-.6
.9
.6
7.8
6.6
1.2
.9
.6
8.1
6.9
1.3
1.0
.5
2.9
2.4
.5
.8
.5
4.4
4.0
.3
.9
.8
.9
.8
.8
.9
8.7
8.5
2
12.0
11.2
.8
.9
.9
10.6
10.3
.3
.6
.9
4.3
3.9
.4
.7
1.0
6.6
5.2
1.5
.7
1.1
9.4
8.8
.6
.5
1.2
8.5
-.8
8
9
10
11
12
13
14
15
16
17
.8
1.3
2.4
3.5
.9
5.5
6.7
5.8
7.3
10.9
8.2
4.3
3.5
-.4
1.4
-.6
-3.3
7.2
16.6
18
30.7
27.2
31.5
30.6
35.8
30.3
37.0
30.3
39.6
33.9
42.2
35.0
47.8
36.9
49.1
41.0
51.6
47.3
54.2
50.7
58.5
58.9
62.2
63.5
67.1
65.7
67.9
68.5
72.7
75.9
87.6
80.4
97.6
81.0
19
20
169.3
170.7
172.9
182.8
193.1
197.6
202.7
209.6
229.3
248.3
259.2
256.7
250.2
249.4
253.1
252.5
254.3
21
92.8
76.4
91.8
78.9
90.8
82.0
95.6
87.1
103.1
90.0
102.2
95.4
100.6
102.1
100.5
109.1
112.5
116.8
125. 3
123.1
128.3
130.9
121.8
134.9
110.7
139.5
103.9
145.5
102.1
151.0
96.1
156.3
95.0
159.3
22
23
1953
1952
1951
-1.3
1954
1955
1956
Line
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
562.4
573.2
584.7
585.7
591.3
592.1
598.3
612.5
622.2
626.2
622.4
616.4
608.1
605.6
614.4
626.1
641.1
650.8
660.3
667.0
664.1
667.5 6 67.9 675.7
1
346.5
338.5
341.4
342.8
343.5
349.5
351.0
359.6
363.7
365.3
364.4
363.5
364.4
367.1
372.7
379.5
386.2
393.2
397.4
403.6
404.1
404.8 4 06.0 410.2
2
45.2
164.7
136.6
38.9
162.7
137.0
37.9
166.0
137.5
37.8
167.7
137.4
38.4
166.5
138.6
39.3
170.3
139.9
36.8
172.8
141.4
41.4
174.9
143.3
43.2
176.1
144.3
42.7
176.6
146.0
42.7
175.2
146.5
43.5
174.9
145.2
41.9
175.8
146.7
42.5
175.0
149.6
43.5
177.2
152.0
46.1
180.0
153.3
49.2
181.4
155.6
52.4
184.4
156.4
53.9
185.9
157.6
53.3
189.8
160.5
50.4
191.6
162.1
49.9 49.2 49.8
191.1 191.2 192.5
163.8 165.7 167.9
3
4
5
96.8
100.3
94.0
85.5
86.6
77.6
80.8
87.8
87.9
89.3
86.2
78.8
79.4
80.0
84.2
90.0
98.0
104.1
106.1
108.0
104.2
102.9 102.5 102.0
80.3
53.0
21.1
31.9
27.3
25.7
79.4
53.9
20.9
32.9
25.5
23.9
78.6
52.9
20.1
32.8
25.7
24.2
79.3
53.1
20.2
33.0
26.2
24.7
80.3
53.7
20.4
33.3
26.6
25.2
75.3
48.9
20.6
28.3
26.4
25.0
80.6
52.8
21.3
31.5
27.8
26.2
83.9
55.6
22.0
33.7
28.3
26.8
84.2
55.8
22.4
33.4
28.4
26.9
84.4
57.0
22.5
34.4
27.4
25.9
83.8
56.6
23.0
33.7
27.2
25.7
82.8
55.3
23.4
31.9
27.5
26.1
84.1
54.8
23.6
31.2
29.3
27.9
87.0
55.9
23.6
32.3
31.1
29.7
88.5
55.5
23.6
31.9
33.0
31.6
92.1
56.6
24.4
32.2
35.5
34.2
96.1
60.1
24.9
35.2
36.0
34.7
98.3
63.1
25.7
37.4
35.2
33.9
98.8
65.1
26.2
38.9
33.7
32.4
96.6
64.2
27.2
37.0
32.5
31.1
97.4
65.2
28.2
36.9
32.3
30.8
97.6
66.0
28.6
37.4
31.6
30.2
-5.0
-5.0
-3.4
-3.8
—4.1
-4.8
—2.7
-3.8
15
7 8
9 2
7 5
55
4 9
— 1.6
— 7
83.4
51.8
20.3
31.4
31.6
30.0
1.3
3
13. 4
11*. 9
1 6
1.3
3
19 9
is! 4
15
1.3
.3
14.6
12.9
1.7
1.3
.3
7.0
5.3
1.7
1.2
.3
7.3
5.8
1.5
1.1
.3
—2 7
-3.9
1.2
1.1
.3
5.4
4.3
1.1
1.2
.4
7.2
6.2
1.0
1.1
.4
3.9
4.2
-.3
1.2
.4
51
5.4
-.3
1.2
.3
1.9
2.1
-.3
1.2
.3
.1
1.1
.3
.4
1.1
.3
.8
1.1
.4
1.0
1.0
.4
-.1
1.6
.9
.4
5.9
5.2
.7
.9
.4
8.0
7.8
.2
.9
.4
7.2
.6
.9
.4
8.9
.3
1.0
.5
8.5
—1.0
1.0
.4
7.1
1.0
5
5.6
6
5.2
2
7
8
9
10
11
12
13
14
15
16
17
96.6
65.5
28.5
37.0
31.1
29.7
1.0
4
5 4
4.1
6.8
9.3
9.6
8.7
5.9
3.1
2.0
2.1
1.5
2.1
2.3
2.8
4.3
4.8
5.9
5.9
3.7
4.8
4.4
5.0
6.8
7.7
9.7
18
23.4
19.4
25.5
18.7
27.1
17.8
27.6
18.0
27.9
19.1
25.0
19.0
23.3
20.1
23.7
21.7
23.5
21.4
24.0
22.5
24.3
22.2
23.7
21.3
23.2
20.4
25.9
21.6
25.4
20.5
26.6
20.7
27.7
21.8
26.9
23.2
28.5
23.6
28.6
24.2
30.0
25.1
31.9
25.1
33.2
25.5
34.1
24.4
19
20
127.7
140.0
147.7
152.4
159.1
163.4
163.1
168.6
170.1
169.7
171.8
161.4
154.3
152.6
150.7
151.0
149.7
151.9
150.9
150.8
152.9 1 51.7 153. 9
21
76.3
51.3
88.4
51.6
96.1
51.6
100.4
52.0
106.2
52.9
111.5
52.0
110.0
53.0
113.5
55.1
115.9
54.2
114.2
55.5
115.0
56.8
102.9
58.5
95.4
58.9
92.2
60.4
89.9
60.8
87.9
63.1
85.8
64.0
87.8
64.1
86.3
64.6
85.0
66.7
22
23
115.1
64.6
50.5
85.5
65.3
86.6
66.3
86.4
67.4
SURVEY OF CUERENT BUSINESS
56
Part I January 1976
Table 1.2.—Gross National Product in Constant Dollars: Annually, 1946-74,
[Billions of
195 8
19 57
195<)
Line
I
1
2
3
4
5
6
7
8
g
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Gross national product
Personal consumption expenditures.
Durable goods
Nondurable goods
Services
_ ._
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
.
________ _._
Nonfarm structures
Farm structures
Producers' durable equipment
Change in business inventories
Nonfarm
Farm
- -Net exports of goods and services . _ _ _
Exports
Imports
-
_
- --
Government purchases of goods and
services.
Federal
State and local
II
IV
III
I
II
IV
III
I
II
III
IV
680 4
680.9
685.6
676.7
663.4
668.2
684.4
702.1
710 7
726 3
718 6
726 2
412.6
413.2
416.1
416.9
411.9
415.7
421.8
426.5
435.1
440 8
444 4
445 6
51.0
193.1
168.5
49.8
193.9
169.6
49.0
196.7
170.3
49.0
195.7
172.2
46.1
193.4
172.4
45.6
194.9
175.2
46.2
198.3
177.4
47.8
200.6
178.1
50.6
203.2
181 3
52 5
204 6
183 7
53 3
9Q5 5
185 6
50 8
206 8
188 0
98.7
98.2
100.1
91.9
83.2
81.1
88.4
98.3
103.3
114 6
102 3
109 6
96.2
65.9
28.2
37.7
30.4
28.9
1.0
.5
2.5
2.4
.1
95.3
65.7
28.2
37.5
29.6
28.2
1.0
.4
2.9
2.5
.4
96.4
67.1
28.1
38.9
29.3
27.9
1.0
.4
3.7
2.9
.8
94.9
65.4
28.0
37.4
29.5
28.1
.9
.4
-3.0
-4.3
1.3
90.0
61.2
27.5
33.7
28.7
27.5
.9
.3
-6.8
-7.9
1.1
87.2
58.5
26.5
31.9
28.7
27.4
.9
.4
-6.2
-7.1
.9
88.0
57.2
25.8
31.4
30.8
29.4
.9
.5
.3
-.7
1.0
93.0
58.9
25.9
32.9
34.1
32.6
.9
.6
5.3
4.3
1.0
98.3
60.4
25 7
34.7
37.9
36 3
.9
6
5.0
5.0
.0
101 6
62
4
9
67
35 8
39 2
37 6
10
6
13 0
12 9
.1
102 6
64 3
27 4
36 9
38 3
36 8
10
5
4
— 3
— 1
101 4
64 5
97 4
37 1
36 9
35 5
10
5
82
81
1
10.1
9.5
8.9
6.9
4.2
3.5
4.0
2.4
.5
— 3
16
16
36.2
26.1
35.8
26.3
34.6
25.7
32.8
25.9
30.3
26.2
30.8
27.3
31.0
27.0
30.9
28.5
30.0
29.5
30.5
30.8
33 0
31.4
32 3
30 7
159.0
159.9
160.6
161.1
164.2
168.0
170.2
174.9
171.8
171.3
170.3
169.3
90.0
69.0
90.3
69.6
89.9
70.6
88.8
72.2
90.2
74.0
62.6
75.3
93.3
76.9
95.4
79.5
92.9
78.9
92 4
78.9
91 2
79 1
90 7
78 6
19 66
1967
19(>8
Line
I
II
III
I
IV
II
III
IV
I
II
III
IV
1
Gross national product
969.6
976.3
985.4
992.8
994.4
1,001.3
1, 013. 6
1, 021. 5
1,031 4
1 049 4
1 061 8
1 064 7
2
Personal consumption expenditures
581.7
582.8
589.0
590.8
595.1
602.9
605.8
608.8
620.8
628.0
640 8
644 0
80.4
253.5
247.8
76.9
255.4
250.5
79.4
257.2
252.5
79.1
255.9
255.7
77.5
258.3
259.3
80.9
259.4
262.6
80.1
259.5
266.2
80.2
260.8
267.8
85.2
266.0
269.7
86.6
268.4
273.0
90 5
273.2
277.1
90 7
273.2
280.1
161.0
164.0
160.1
160.2
150.9
147.1
153.3
159.4
155.1
160.6
159 9
162 6
147.5
104.7
42.8
62.0
42.7
40.8
1.1
.8
13.5
12.4
1.1
146.2
106.1
42.2
63.8
40.1
38.8
.6
.8
17.8
18.1
2
145.0
107.0
43.1
63.9
38.0
36 3
.9
.8
15.1
15.6
-.5
139.7
106.4
41.8
64.6
33.3
31.5
1.0
.7
20.5
21.5
-1.0
136.4
103.7
41.9
61.8
32.7
30.9
1. 1
.7
14.6
14.4
.1
139.6
103.3
40.8
62.6
36.3
34.7
.8
.7
7.5
6.8
.7
141.1
102.8
41.1
61.7
38.4
36.8
.8
.8
12.2
11.2
1.0
145.5
104.1
40.5
63.6
41.4
39.5
1.0
.9
13.8
12.5
1.3
148.9
106.9
42.2
64.7
41.9
40.2
.9
.9
6.3
5.8
.4
148.9
105 9
41 6
64.3
42 9
41.3
7
9
11.8
11.7
.1
150.7
107 9
41 3
66.6
42 8
41.1
g
9
9.2
9.1
1
155.0
111 3
42. 7
68.6
43 6
41.9
8
9
7.6
7.4
.2
3
4
5
6
7
g
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Durable goods
Nondurable goods
Services
-
Gross private domestic investment
Fixed investment
-- Nonresidential
Structures
Producers' durable equipment
Residential
Nonfarm structures
Farm structures
Producers' durable equipment
Change in business inventories
Nonfarm
Farm
Net exports of goods and services
Exports
Imports
-
--
Government purchases of goods and services.
Federal
State and local
6.1
5.0
2.9
3.3
4.1
4.0
4.1
2.0
—.4
7
2
—2 0
51.3
45.2
51.0
46.0
51.8
48.9
52.4
49.1
53.9
49.8
53.6
49.6
54.4
50.3
55.1
53.1
56.2
56.6
58.4
57.8
61. 1
60.9
58.3
60.3
220.7
224.4
233.4
238.6
244.3
247.3
250.4
251.3
255.8
260.2
260.9
260.0
106.5
114.2
108.8
115.7
116.5
116.9
118.4
120.3
122.6
121.7
124.8
122.5
127.3
123.1
126.3
125.0
127.4
128.4
129.8
130.4
129.5
131.4
126.6
133.5
SURVEY OF CURRENT BUSINESS
Part I January 1976
57
and Seasonally Adjusted Quarterly Totals at Annual Rates, 1947-74—Continued
1972 dollars]
1961
1960
I
i
II
III
IV
I
1962
II
III
IV
1963
I
II
III
IV
I
II
1964
1965
III
IV
I
II
Ill
IV
I
Line
II
Ill
IV
740.7
738.9
735.7
731.9
736.6
749.0
758.7
776.9
788.1
798.3
804.3
805.8
813.5
823.7
838.8
846.9
861.1
872.0
880.5
883.9
903.0
916.4 932.3 952.0
1
449.2
455.1
453.6
454.1
454.8
460.8
462.2
471.1
475.3
480.7
484.6
490.8
493.9
498.3
504.8
508.4
517.4
526.4
535.0
536.0
546.7
551.4 559.8 574.5
2
52.2
207.2
189.8
53.4
209.5
192.2
52.9
208.1
192.6
51.5
208.1
194.4
48.6
209.6
196.6
49.3
211.6
199.8
50.4
211.7
200.1
52.8
214.8
203.6
53.9
216.5
205.0
55.2
217.3
208.2
55.7
219.3
209.6
58.1
220.8
212.0
59.2
221.5
213.2
60.4
222.3
215.5
61.1
224.1
219.6
62.0
224.2
222.2
64.1
228.2
225.1
65.6
232.2
228.5
67.6
236.1
231.3
65.4
236.7
233.9
71.4
239.3
236.1
71.4 73.9 76.9
240.9 244.1 251.8
239.1 241.9 245.9
3
4
5
118.5
106.7
101.8
94.7
93.9
101.2
107.9
111.3
116.7
119.1
119.1
114.8
118.3
122.9
127.8
129.2
130.1
131.9
132.2
134.3
146.7
148.5 152.5 152.6
6
101.8
67.0
28.3
38.7
34.8
33.6
.7
.5
4.9
4.5
3
98.8
65.2
28.5
36.8
33.5
32 1
.9
.5
3.0
2.5
.5
98.6
65.2
29.7
35.5
33.4
32.1
.8
.5
-3.9
-4.2
.3
97.7
64.0
29.6
34.3
33.8
32.2
1.1
.5
-3.8
-4.1
.4
99.2
65.2
29.2
36.0
34.0
32.6
.8
.5
1.9
1.6
.3
101.3
65.6
29.3
36.3
35.7
34.4
.7
.5
6.6
6.1
.5
104.6
67.6
29.2
38.4
37.0
35.1
1.4
5
6.7
6.1
.6
106.1
-69.0
29.6
39.4
37.1
35.7
.9
.5
10.6
9.6
1.0
109.9
71.3
30.8
40.4
38.6
37.2
.8
.5
9.2
8.0
1.2
111.1
72.2
31.8
40.3
38.9
37.4
.9
6
8.0
6.6
1.4
110.1
71.3
31.1
40.2
38.8
37.3
.9
6
4.7
3.4
1.3
110.7
70.5
29.7
40.8
40.2
38.6
.9
.6
7.6
6.3
1.3
116.0
72.7
31.1
41.6
43.3
41.6
1.0
6
70
5.6
14
118.5
74.6
31.1
43.4
43.9
42.6
.7
.6
9.3
8.1
1.2
122.0
76.4
31.4
45.0
45.6
44.0
1.0
.6
7.1
6.2
.9
124.0
77.6
31.6
46.0
46.4
44.6
1.2
7
6.1
6.5
— .4
124.0
79.9
33.1
46.8
44.1
42.5
.9
.7
8.0
8.6
— .6
124.9
82.2
34.0
48.2
42.8
41.2
.9
.7
7.3
8.1
— .8
126.4
84.5
34.7
49.8
41.9
40 4
.9
7
79
8.6
— 7
133.4
90.0
36.6
53.4
43.4
41 6
1.1
7
13 4
12.6
7
137.9 140.1 143.8
93.8 97.1 101.5
39.6 37.8 42.4
54.2 57.3 59.1
44.1 43.0 42,3
42.8 41.3 40.8
8
.6
.9
7
7
8
10 6 12 4
88
9.5 10.9
7.5
1i
15 1 3
7
8
9
10
11
12
13
14
15
16
17
104.9
66.7
28.7
38.0
38.2
36.8
q
.5
13.5
13.4
2
3.8
4.6
5.9
7.7
8.5
6.2
6.0
6.2
5.0
6.8
6.2
5.2
5.4
75
7.0
9.1
11.9
10.3
10.8
10.5
7.2
9 2
87
7 6
18
34.6
30.8
35.6
31.0
36.3
30.3
36.7
29.0
37.5
29.0
35.5
29.3
37.2
31.2
38.0
31.9
37.9
32.9
40.4
33.7
40.3
34.1
39.9
34.7
39.5
34.1
42.2
34.8
42.5
35.5
44.6
35.5
47.4
35.5
46.6
36.4
48.1
37.3
48.9
38.4
44.1
37.0
51.0
41.8
50.5
41.8
50.8
43.3
19
20
169.2
172.4
174.4
175.4
179.3
180.9
182.6
188.3
191.1
191.8
194.5
194.9
195.9
195.1
199.2
200.2
201.7
203.5
202.4
203.2
202.5
207.2 211.3 217.4
21
89 3
79.9
90 8
81.6
91.5
82.9
91.7
83.7
93.0
86.4
94.9
86.0
95.7
86.9
99.0
89.3
102.4
88.7
102.4
89.3
104 0
90.5
103.5
91.4
102.6
93.3
101 0
94.0
102.6
96.5
102.3
97.9
102.2
99.5
101.7
101.8
99.5
103.0
99 0
104.3
97 2
105.3
qq 3 0.610 104.8
107.9 110.7 112.6
22
23
1969
I
II
III
IV
I
II
1972
1971
1970
III
IV
II
I
III
IV
I
1973
III
II
IV
I
1974
III
II
IV
II
I
IV
III
r
1,074.8 1, 079. 6 1,083.4 1,077.5 1,073.6 1,074.1 1,082.C 1,071.4 1,095.3 1, 103. 3 1,111.0 1,120.5 1,141.2 1, 163. 0 1,178.C 1,202.251,227.' 1,228.4 1,236.5 1.240.S 1,228."r 1,217.:1 1,210. 2 1,186.8
L
i
n
e
1
649.9
653.0
656.8
661.9
665.4
668.7
673.6
668.0
682.3
689.5
693.6
702.3
713.7
728.1
737.5
752. i;
765. *$
766. :5
770. 5
762.8
760. ()
763. iI
767. 2
748.9
2
92.2
275.1
282.6
92.0
275.8
285.2
91.6
276.8
288.4
91.7
277.9
292.3
89.7
280.3
295.4
90.7
281.2
296.7
90.7
283. 1
299.3
84.6
285.8
297.7
93.6
286.0
302.7
96.5
287.5
305.5
98.7
287.4
307.5
103.7
289. C
309.6
106.4
291.1
316.3
109.2
298.5
320.4
111.8i
301.^t
324.2<
117. ()
306.;I
328.**
124. ()
310. ()
331.;2
122. 'i
308. ;>
335.CJ
311. ^
337. c
121.;
115.7
308.2
338. c
114.'r
304.,>
340.*i
115 A> 116.8
303. ** 304. 7
343. <) 345. 7
102.9
298.9
347.2
3
4
5
168.9
170.6
171.6
161.1
154.7
154.8
156.7
152.7
162.2
168.4
167. C
169.7
179.1
186.2
205. ()
166.9
6
158.4
113.7
43.6
70.2
44.7
43.1
.6
q
12.2
11.9
.3
158.1
115.2
44.8
70.4
42.9
40.9
1.2
9
13.4
13.1
.3
154.3
114.2
44.2
70.0
40.1
38.6
.6
9
6.8
6.7
.2
151.8
150.0
111.7
43.2
68.5
38.3
37.0
.4
.9
4.8
4.3
.5
150.4
110.8
42.8
68. C
39. €
38.1
. i>
149.5
106.0
42.3
63.8
43.4
41.7
.8
c)
3.3
2.9
.3
154.3
107.8
42.2
65.7
46.4
44.9
158.4
107.1
41.9
65.2
51.3
49.7
e
1C
10. C
162.1
107.4
41.8
65. C
54. €
52.8
g
1C
5.C
3. t
166. C
109. e
41. C
68.7
56.4
54. e
.7
1 i
3.7
174.3
113.3
42.2
71.1
186. 'i
122. <)
59.2
176.1
114. e
42.3
72.2
61. C
59. S
190.:5
178.;2
116. c)
42.;t
197. (>
159.1
113.9
43.4
70.5
45.2
43.2
11
.9
9.8
9.5
.3
1c
4.8
4. ()
.8
1]
10.1
9.2
.8
ni.e
43. C
68.6
40.2
38.6
.7
.9
2.9
2.4
.5
c
6.2
6.1
.;
e
10
7.9
6.C
1.9
s.e
1.4
1.1
1J
60. g
r
e
206. ]I
206. (
212.6
195. <)
183. \i
193. ;2 192. f5
128. (5 i3o. ;>
43.;2 44.;L 44.'i
191.*
132. ;
188.;5
79.'1
63.**
62. L
(5
64.,)
62.'j
.(
85. (3
62.:J
86.;
87.
177. () 169.0
129. <) 125. 0
43.,>
40.6
86. L
84.4
44.1
47. L
42.0
45. 3
10.**
10.;t
.;t
11. <)
10. L
1.**
L
i ;2
13. (3
59.;
57. (
1. „
14/
183. 5(
134. 1>
46. L
88.;I
49. I
46. <)
(
1 ,j
12.;1
11. r
.(3
-l.( >
-1. 1
2. I
5. 5
8.
12. L
18.
r
is. i
15.1
17.4 18
73.:J
77. 3
78.;I
84. 5
82. J
86. 7
81. L
88.
79.
90.'1
78. (3
98. 1
79. 5
99. 5
84. 2
96. 9
81.9
95.7 19
78.3 20
254.'r
250.,5
251.
253.,> 254. ) 255. )
254.7
253.6 21
94. <)
99. (3 100. I
153. (3 154. ,} 155. 5
94.
156.
94. <)
158. 5
95.7
159. 0
94.7 22
158.9 23
74.]L
61.'?
59. ( )
1
1 L
12. L
11. (5
.,>
i ;2
-2.4
-.6
-.6
1.4
1.4
2.1
.3
1.6
-1.4
-.2
54.6
56.2
64.6
67.1
65.2
65.8
64.4
65.1
67.2
65.8
67.7
66.3
67.4t
64. c
66.1
65.8
67. £
65. S
69.1
70. £
70. e
70.8
64.4
66.8
70.'
76.4I
69.7
74.]
257.6
258.4
255.7
255.1
252.2
249.2
249.25
250.3
249.2
246.8
250.5
251. C
254.1
253.25
252. () 253. 2
123.9
133.7
123.4
135.0
120.6
135.1
119.4
135.7
115.2
136.9
111.3
137.9
108. £
140.8
108. C
142.4
105.7
143. £
102. C
144.8
104.7
145.8
103.^J
147.7
149.;J
104. f
103. £>
149. 7
151.;I
-1.7
-2.4
-5.
-4.4
74. <)
100. (3
84.:J
1 '2
60.'r
11.;2
2. 5
46.;
11.:
2.<
133. c)
46.;r r
54.:J
52.;I
j
L
J
r
2
24.^t
22. ()
2.;t
94. 7
159. 3
1
1 ,j
6.*J
7. 7
-.**
94. 7
160. 2
173. 2
7
13
4.2
5.6
-1.4
159.3 7
120.8 8
40.5 9
80.3 10
38.5 11
36.4 12
q 13
1 2 14
7.6 15
9.0 16
-1.5 17
SUEVEY OF CUEEENT BUSINESS
58
Part I January 1976
Table 1.3.—Gross National Product by Major Type of Product: Annually, 1946-74,
[Billions of
1946
Line
1948
1947
1950
1949
1951
1952
1953
1954
1955
1956
1957
209.6
232.8
259.1
258.0
286.2
330.2
347.2
366.1
366.3
399.3
420.7
442.8
Final sales
Change in business inventories..
203.2
6.4
233.2
-.5
254.4
4.7
261.1
-3.1
279.4
6.8
319.9
10.3
344.0
3.1
365.7
.4
367.8
-1.5
393.3
6.0
416.0
4.7
441.4
1.3
Goods..
Final sales
Change in business inventories..
125.3
118.9
6.4
139.8
140.3
-.5
154.4
149.7
4.7
147.7
150.8
-3.1
162.4
155.6
189.5
179.2
10.3
194.6
191.5
3.1
203.1
202.7
.4
196.1
197.6
-1.5
214.5
208.5
6.0
223.3
218.6
4.7
232.3
231.0
1.3
Durable goods
Final sales
Change in business inventories..
37.2
31.8
5.3
45.8
44.1
1.7
47.6
46.9
.7
46.2
48.3
-2.1
58.8
54.7
4.1
69.5
62.5
6.9
68.7
67.6
1.1
72.4
71.5
.9
66.4
69.0
-2.5
81.3
78.2
3.0
85.1
82.3
2.8
88.5
87.3
1.3
Nondurable goods
Final sales
Change in business inventories-
88.1
87.1
1.1
94.0
96.2
-2.2
106.7
102.8
4.0
101.5
102.5
-1.0
103.6
100.9
2.7
120.0
116.7
3.4
125.9
123.9
2.0
130.8
131.2
-.5
129.6
128.7
1.0
133.2
130.3
2.9
138.1
136.3
1.9
143.7
143.7
.0
68.6
15.7
71.3
21.7
76.7
28.0
81.9
28.4
88.2
35.6
102.9
37.8
113.1
39.4
121.0
42.0
125.7
44.5
135.3
49.5
145.2
52.2
157.5
53.0
Gross national product..
Services
Structures..
Line
Gross national product _
1949
1948
1947
III
IV
II
III
IV
1950
II
III
IV
III
IV
224.9
229.1
233.3
243.6
249.6
257.1
264.0
265.5
260.1
256.6
258.6
256.5
267.4
276.9
294.5
305.9
Final sales
Change in business inventories..
224.5
.4
230.1
-1.0
236.0
-2.7
242.2
1.4
246.3
3.3
251.9
5.1
257.9
6.1
261.1
4.3
260.1
.0
262.0
-5.3
260.4
-1.7
261.8
-5.3
265.0
2.4
272.1
4.8
289.6
4.9
290.9
15.1
Goods
Final sales
Change in business inventories-
135.2
134.8
.4
137.8
138.8
-1.0
139.9
142.6
-2.7
146.3
144.9
1.4
150.0
146.7
3.3
153.3
148.2
5.1
157.3
151.2
6.1
156.9
152.6
4.3
151.8
151.8
.0
147.4
152.7
-5.3
148.0
149.7
-1.7
143.7
149.0
-5.3
150.5
148.1
2.4
155.7
150.9
4.8
167.6
162.8
4.9
175.7
160.6
15.1
Durable goods
Final sales
Change in business inventories..
44.2
42.3
1.9
45.8
44.2
1.6
47.5
44.3
3.2
45.7
45.6
.1
47.1
46.7
.4
46.2
45.6
.5
48.5
47.5
1.0
48.8
47.7
1.1
48.1
47.6
.5
44.8
49.1
-4.3
48.5
48.5
-. 1
43.5
48.1
-4.6
48.3
49.0
-.7
54.9
51.2
3.6
63.4
60.9
2.5
57.8
10.8
Nondurable goods
Final sales
Change in business inventories..
91.0
92.5
-1.4
92.0
94.6
-2.6
92.4
98.3
-6.0
100.6
99.3
1.3
102.9
100.0
2.9
107.2
102.6
4.6
108.8
103.7
5.1
108.1
104.9
3.2
103.7
104.2
-.5
102.6
103.6
-1.0
99.5
101.2
-1.7
100.2
100.9
102.2
99.1
3.1
100.8
99.7
1.2
104.3
101.9
2.4
107.1
102.9
4.3
70.4
19.3
71.6
19.7
71.3
22.2
71.9
25.4
73.5
26.0
75.5
28.2
77.7
29.0
80.2
28.3
80.8
27.5
81.7
27.5
82.2
28.4
82.7
30.1
84.8
32.1
86.3
34.8
89.3
37.6
92.4
37.8
Services....
Structures.
1957
Line
1959
1958
III
III
IV
II
IV
III
IV
438.9
441.0
448.2
439.9
453.1
466.3
476.0
489.9
486.5
493.5
Final sales
Change in business inventories-
436.8
2.1
438.7
2.3
445.1
3.2
445.1
-2.2
441.2
-5.4
445.0
-5.1
453.1
.1
462.2
4.1
472.0
4.0
479.5
10.4
486.5
.0
486.9
6.5
Goods
Final sales
Change in business inventories.
232.7
230. 6
2.1
231.9
229.6
2.3
236.2
233.0
3.2
228.3
230.6
-2.2
221.4
226.9
-5.4
222.2
227.3
-5.1
230.5
230.4
.1
238.3
234.2
4.1
241.7
237.7
4.0
251.7
241.4
10.4
245.5
245.4
.0
250.8
244.2
6.5
Durable goods
Final sales
Change in business inventories..
89.2
87.9
1.4
89.1
86.9
2.3
91.4
88.0
3.4
84.4
86.3
-1.9
75.0
81.0
-6.1
73.6
79.1
-5.5
78.5
79.6
-1.1
83.8
82.3
1.5
89.0
85.5
3.5
95.2
87.8
7.4
87.0
89.7
-2.7
89.1
86.5
2.6
Nondurable goods
Final sales
Change in business inventories
143.5
142.8
.7
142.8
142.7
.0
144.8
145.0
2
143.9
144.3
146.5
145.9
148.6
148.2
.4
152.0
150.8
1.2
154.5
151.8
2.6
152.7
152.2
.5
156.5
153.6
2.9
158.5
155.7
2.8
161.7
157.8
3.9
153.2
53.0
156.2
52.9
159.1
53.0
161.6
52.9
162.0
52.4
165.7
52.0
168.9
53.7
171.1
57.0
174.7
59.6
177.5
60.7
181.2
59.9
184.8
57.9
Gross national product.
Services
Structures..
1966
1968
1967
Line
II
Gross national product.
III
IV
II
III
III
IV
IV
894.7
733.7
747.6
759.0
771.7
777.5
785.8
803.1
818.7
837.3
861.8
Final sales
Change in business inventories-
722.2
11.5
732.2
15.3
746.0
13.0
754.2
17.5
765.2
12.3
779.7
6.1
792.9
10.3
807.0
11.7
832.0
5.3
851.4
10.5
872.1
8.0
887.6
7.1
Goods
Fin al sales
Change in business inventories.
363.7
352.2
11.5
371.4
356.1
15.3
376.5
363.5
13.0
384.1
366.6
17.5
382.2
369.9
12.3
382.8
376.7
6.1
389.9
379.6
10.3
394.2
382.5
11.7
402.1
396.8
5.3
416.7
406.2
10.5
426.2
418.2
8.0
430.7
423.6
7.1
Durable goods
Final sales
Change in business inventories.
145.1
137.8
7.3
147.2
136.7
10.5
150.2
140.1
10.1
153.7
141.5
12 2
146.2
139.8
6.4
147.0
144.4
2.6
149.2
144.1
5.1
152.5
145.5
7.0
154.4
150.9
3.5
161.5
153.9
7.5
165.1
161.2
4.0
168.4
163.6
4.8
Nondurable goods
Final sales
Change in business inventories..
218.6
214.4
4.2
224.2
219.4
4.8
226.3
223.4
2.9
230.3
225.1
5.3
236.0
230.1
5.9
235.8
232.3
3.5
240.7
235. 5
5.2
241.7
237.0
4.7
247.6
245.8
1.8
255.2
252.3
2.9
261.0
257.0
4.0
262.3
260.0
287.0
83.0
293.9
82.3
301.1
81.4
308.8
78.8
315.6
79.7
321.6
81.5
329.5
83.7
337.7
344.2
91.0
352.9
92.3
361.8
92.1
367.5
96.5
Services
Structures..
NOTE.—"Final sales" is classified as durable or nondurable by type of product. "Change
in business inventories" is classified as follows; For manufacturing, by the type of product
produced by the establishment holding the inventory: for trade, by the type of product sold
by the establishment holding the inventory; for construction, durable; and for other industries nondurable.
SUEVEY OF CURRENT BUSINESS
Part I January 1976
59
and Seasonally Adjusted Quarterly Totals at Annual Rates, 1947-74
dollars]
1959
1958
1960
1962
1961
1964
1963
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
Line
448.9
486.5
506.0
523.3
563.8
594.7
635.7
688.1
753.0
796.3
868.5
935.5
982.4
1,063.4
1,171.1
1,306.3
1,406.9
1
450.4
—1.5
481.2
5.2
502.2
3.8
521.1
2.2
557.3
6.5
588.8
6.0
629.9
5.8
678.6
9.5
738.7
14.3
786.2
10.1
860.8
7.7
926.2
9.4
978.6
3.8
1, 057. 1
6.4
1, 161. 7
9.4
1, 288. 8
17.5
1, 397. 2
9.7
2
3
228.2
229.7
-1.5
247.4
242.2
5.2
254.3
250.6
3.8
256.5
254.3
2.2
278.0
271.5
6.5
289.0
283.7
6.0
309.0
303.2
5.8
336.6
327.1
9.5
373.9
359.6
14.3
387.3
377.2
10.1
418.9
411.2
7.7
446.2
436.8
9.4
456.2
452.4
3.8
479.8
473.5
6.4
526.0
516.6
9.4
599-8
582.3
17.5
636.3
626.5
9.7
4
5
6
77.7
80.5
-2.8
90.1
87.4
2.7
91.5
89.1
2.4
90.0
90.2
-.1
102.0
98.4
3.6
108.0
105.4
2.7
118.9
115.0
3.9
133.6
127.0
6.6
149.1
139.0
10.0
148.7
143.5
5.3
162.4
157.4
5.0
175.3
169.2
6.1
170.8
170.7
.0
181.6
179.8
1.8
208.4
202.1
6.3
239.1
228.8
10.3
246.1
238.5
7.5
7
8
9
150.5
149.2
1.3
157.4
154.8
2.5
162.8
161.4
1.4
166 5
164.1
2.3
176.1
173.2
2.9
181.6
178.3
3.3
190.1
188.2
1.9
203.1
200.1
2.9
224.9
220.6
4.3
238.5
233.7
4.8
256.5
253.8
2.8
270.9
267.6
3.3
285.4
281.7
3.7
298.3
293.7
4.6
317.7
314.5
3.2
360.7
353.5
7.2
390.2
388.0
2.2
10
11
12
166.9
53.8
179.5
59.5
193.2
58.4
206.7
60.1
221.5
64.3
236.2
68.9
254.4
72.4
272.7
78.8
297.7
81.4
326.1
82.9
356.6
93.0
388.7
100.7
424.6
101.6
465.5
118.1
510.8
134.3
559.5
147.0
624.1
146.6
13
14
1952
1951
1954
1953
1955
1956
Line
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
319.9
327.7
334.4
338.5
341.1
341.3
347.0
359.2
365.4
368.8
367.8
362.6
362.0
361.8
366.2
375.0
387.5
395.4
309.4
10.5
312.5
15.2
324.1
10.4
333.4
5.1
336.0
5.2
343.6
-2.3
342.7
4.3
353.8
5.4
363.0
2.4
365.6
3.2
367.1
.7
367.1
-4.5
364.6
-2.5
364.5
-2.7
368.4
-2.2
373.8
1.3
382.9
4.6
389.3
6.1
184.4
173.9
10.5
188.6
173.4
15.2
191.5
181.2
10.4
193.5
188.4
5.1
192.7
187.5
5.2
189.7
192.1
-2.3
193.2
189.0
4.3
202.8
197.4
5.4
204.3
201.9
2.4
205.6
202.5
3.2
204.0
203.3
.7
198.5
203.0
-4.5
197.0
199.5
-2.5
193.3
196.0
-2.7
194. 0
196.1
-2.2
200.0
198.7
1.3
205.7
201.1
4.6
67.4
62.4
5.0
70.6
60.1
10.6
70.9
62.1
8.8
68.9
65.5
3.4
70.8
67.7
3.1
66.9
68.7
-1.8
63.9
63.4
.5
73.4
70.6
2.8
74.8
71.5
3.4
74.0
71.8
2.1
74.4
72.1
2.4
66.2
70.5
-4.3
65.9
69.5
-3.5
64.9
68.7
-3.9
65.1
67.6
-2.5
70.0
70.1
-.1
117.0
111.5
5.5
118.0
113.3
4.7
120.6
119.1
1.6
124.6
122.9
1.7
121.9
119.8
2.1
122.9
123.3
129.3
125.5
3.8
129.5
126.8
2.6
129.5
130.4
-.9
131.7
130.7
1.0
129.6
131.3
— 1.7
132.3
132.5
-.3
131.1
130.1
1.0
128.5
127.3
1.2
128.9
128.5
.4
97.2
38.4
101.4
37.7
105.6
37.3
107.6
37.4
110.1
38.4
112.5
39.0
114.3
39.5
115.6
40.8
119.1
41.9
121.0
42.1
121.9
41.9
121.9
42.1
122.4
42.7
124.8
43.7
127.0
45.2
1960
1961
IV
I
II
404.0
410.2
411.9
417.4
422.4 430.9
1
397.9
6.0
403.1
7.1
405.9
6.0
413.1 418.3 426.6
4.3
4.1
4.3
2
3
212.6
206.5
6.1
217.9
211.9
6.0
221.7
214.6
7.1
220.1
214.1
6.1
221.8 223.7 227.5
217.5 219.6 223.2
4.3
4.1 4.3
4
5
6
74.4
72.5
1.9
81.7
77.6
4.2
83.8
81.5
2.4
85.1
81.4
3.7
84.8
79.7
5.1
130.0
128.6
1.4
131.3
128.6
2.7
130.9
129.0
1.9
134.1
130.4
3.7
136.6
133.2
3.4
128.6
46.4
133.2
48.6
133.1
49.7
136.1
50.0
138.9
49.6
1963
1962
III
84.3
81.9
2.4
83.7
82.9
.8
IV
87.8
84.8
3.0
7
8
9
135.3
134.3
1.0
137.5 140.0 139.8
135.6 136.7 138.4
1.9
1.3
3.3
10
11
12
141.1
50.7
143.5 145.8 150.5
52.2 52.9 52.8
13
14
1964
1965
Line
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
506.6
506.5
506.2
504.6
507.1
518.2
527.2
540.7
553.0
562.1
567.8
572.3
580.2
587.9
600.5
610.4
622.4
632.4
642.1
646.0
665.4
678.7 695.1 713.3
495.5
11.3
502.2
4.3
503.9
2.4
507.5
-2.9
510.1
-3.0
516.6
1.6
522.0
5.1
535.7
5.0
544.7
8.3
555.0
7.1
561.4
6.4
568.2
4.1
574.3
5.8
582.7
5.3
593.3
7.2
604.8
5.6
617.8
4.7
626.0
6.4
636.1
6.0
639.9
6.1
654.3
11.1
669.7 684.7 705.6
9.0 10.4
7.6
3
258.6
247.3
11.3
256.8
252.4
4.3
254.1
251.7
2.3
247.9
250.8
-2.9
246.3
249.3
-3.0
254.4
252.8
1.6
259.5
254.3
5.1
265.8
260.8
5.0
274.9
266.5
8.3
277.4
270.2
7.1
279.8
273.3
6.4
280.1
276.0
4.1
284.4
278.6
5.8
285.7
280.4
5.3
292.4
285.2
7.2
296.2
290.6
5.6
302.5
297.8
4.7
308.3
301.9
6.4
312.7
306.7
6.0
312.5
306.4
6.1
325.6
314.5
11.1
330.9 340.2 349.9
321.9 329.8 342.2
9.0 10.4
7.6
4
5
6
97.9
88.4
9.5
92.5
90.6
2.0
90.2
89.5
.7
85.4
88.0
-2.7
80.9
86.0
-5.0
87.6
89.1
-1.5
93.6
90.8
2.9
98.0
94.8
3.2
101. S
£ 6.4
5.4
101.6
98.3
3.3
103 0
98.7
4.3
101 5
100.1
1.5
104.2
101.6
2.6
107.5
104.3
3.2
109.1
106.2
2.9
111.3
109.4
1.9
115.9
112.6
3.4
118.7
114.5
4.3
120.8
116.9
3.9
120.2
116.0
4.2
130.9
122.5
8.3
131.8 135.8 135.8
124.6 128.4 132. 5
7.2
3.3
7.4
7
8
9
160.6
158.8
1.7
164.2
161.9
2.4
163.8
162.2
1.6
162.5
162.8
-.3
165.4
163.3
2.0
166.8
163.7
3.1
165.8
163.5
2.3
167.8
166.0
1.8
173.1
170.1
3.0
175.8
172.0
3.8
176.8
174.7
2.1
178.6
175.9
2.7
180.2
177.0
3.2
178.2
176.1
2.0
183.3
179.0
4.3
184.9
181.2
3.7
186.5
185. 3
1.3
189.5
187.4
2.2
191.9
189.7
2.2
192.3
190.4
l.C
194.7
192.0
2.7
199.1 204.4 214.1
197.3 201.4 209.7
3.0
1.7
4.3
10
11
12
188.1
60.0
192.1
57.7
194.5
57.7
198.3
58.4
201.2
59.6
205.3
58.5
207.7
60.0
212.7
62.2
215.8
62.3
220.3
64.5
222.8
65.2
227.1
65.1
230.0
65.7
233.5
68.8
237.9
70.2
243.2
71.0
248.1
71.9
251.8
72.3
256.7
72.7
260.5
72/
264.7
75.1
269.4 275.1 281.8
78.4 79.8 81.7
13
14
1970
1969
I
II
III
IV
I
1971
II
III
IV
I
II
1972
III
IV
I
II
1974
1973
III
IV
I
II
1
III
IV
I
II
III
IV
Line
929.0
946.9
953.3
964.2
976.5
992.6
996.3 1, 034. 0 1,056.2 1,072.41 091. 2 1 , 127. 0 1, 156. 7 1, 181. 4 1,219.4 1, 265. 0 1, 287. 8 1,319.7 1 ,352.7 1,370.9 1 ,391.01, 424. 4 1,441.3
1
904.3 918.3
8.7 10.7
935.0
11.9
947.1
6.2
961.7
2.5
972.3
4.2
986.8
5.8
993. 7 1, 026. 5 1, 046. 5 L, 067. 6 1 087. 7 1 , 122. 3 1, 146. 6 1, 169. 3 1, 208. 6 1, 252. 6 1, 273. 5 1, 304. 1 1, 325. 0 1, 356. 1 1, 381. 7 1, 420. 0 1,430.9
10.4
4.4
9.3
12.4
27.7
10.1
12.1
15.6
2.6
7.5
9.6
10.8
14.3
14.9
3.5
4.8
4.7
2
3
438.2 444.5
429.5 433.9
8.7 10.7
450.6
438.7
11.9
451.4
445.2
6.2
450.7
448.1
2.5
457.0
452.8
4.2
462.0
456.2
5.8
455.2
452.6
2.6
473.6
466.1
7.5
478. 2
468.6
9.6
481.1
476.3
4.8
486.5
483.0
3.5
501.9
497.1
4.7
521.2
511.1
10.1
531,6
519.5
12.1
549.4
538.6
10.8
578.0
565.6
12.4
588.2
573.9
14.3
605.3
589.7
15.6
627.8
600.1
27.7
622.8
607.9
14.9
629.9
620.6
9.3
644.6
640.2
4.4
647.7
637.3
10.4
4
5
6
172.6 174 .1
168.0 167.0
4.6
7.1
177.7
169.9
7.8
176.7
172.0
4.7
171.0
170.8
2
173.6
173. £
.1
177.5
173. 9
3.5
161.1
164.8
-3.7
178.9
176.7
2.2
182.2
177.0
5.2
181.1
180.3
.8
184.0
185.0
-1.0
194.7
193.1
1.6
204.0
198.4
5.5
210.1
203.9
6.2
224.8
213.0
11.8
233.3
226.5
6.8
237.7
228.2
9.5
241.6
230.2
11.4
243.7
230.2
13.5
238.0
231.4
6.7
240.4
237.7
2.7
251.7
245.8
5.9
254.1
239.3
14.9
8
9
265.7 270.5
261.5 266.9
4.1
3.5
272.8
268.8
4.1
274.7
273.2
1.5
279.7
277.4
2.3
283.4
279.3
4.1
284.5
282.3
2.3
294.1
287.8
6.3
294.6
289.3
5.3
296.0
291.6
4.5
300.0
296.0
4.0
302.5
298.0
4.5
307.2
304.0
3.2
317.2
312.7
4.5
321.5
315.6
6.0
324.7
325.6
-1.0
344.7
339.0
5.6
350.5
345.6
4.9
363.7
359.5
4.2
384.1
369.9
14.2
384.7
376.6
8.2
389.5
383.0
6.5
393.0
394.4
-1.4
393.6
398.0
-4.4
10
11
12
375.1 382.6
99.6 101.8
394.2
102.1
402.8
99.2
414.7
98.9
420.4
99.1
428.6
102.0
434.8
106.4
450.1
110.4
461.2
116.9
470.2
121.1
480.6
124.1
494.3
130.8
503.8
131.6
515.7
134.1
529.3
140.7
540.8
146.3
552.7
147.0
565.8
148.6
578.8
146.1
602.1
146.1
612.0
149.1
632.5
147.2
649.7
143.9
13
14
913.0
SUEVEY OF CUEEENT BUSINESS
60
Part I January 1976
Table 1.5—Gross National Product by Major Type of Product in Constant Dollars: Annually,
(Billions of
1946
Line
1948
1947
1950
1949
1952
1951
1954
1953
1955
1956
1957
477.6
468.3
487.7
490.7
533.5
576.5
598.5
621.8
613.7
654.8
668.8
680.9
Final sales
Change in business inventories -
465.5
12.2
468.5
-.2
482.2
5.5
495.1
-4.4
522.9
10.6
562.8
13.7
594.2
4.3
620.3
1.5
615.8
-2.2
647.1
7.7
663.0
5.8
679.4
1.5
Goods.
Final s ales
Change in business inventories-
238.0
225.8
12.2
236.8
237.0
-.2
244.2
238.7
5.5
239.9
244.3
-4.4
261.5
250.9
10.6
283.1
269.4
13.7
292.3
288.0
4.3
306.9
305.4
1.5
292.2
294.4
-2.2
316.3
308.6
7.7
320.9
315.1
5.8
321.8
320.3
1.5
Durable goods
Final sales
Change in business inventories.
71.3
60.5
10.8
76.7
74.9
1.8
77.1
75.6
1.5
72.4
76.1
-3.7
90.7
84.4
6.3
102.4
102.3
100.6
1.8
107.3
105.9
1.4
98.1
101.7
-3.6
117.1
112.9
4.2
117.2
113.5
3.7
116.1
114.6
1.5
Non durable goods
Final sales
Change in business inventories.
166.7
165.3
1.3
160.1
162.1
-2.0
167.1
163.1
4.0
167.5
168.2
170.7
166.5
4.2
180.7
176.8
3.9
189.9
187.4
2.5
199.6
199.5
.1
194.1
192.7
1.4
199.2
195.7
3.5
203.7
201.6
2.1
205.7
205.6
.0
199.7
40.0
186.9
44.7
190.9
52.5
197.0
53.7
206.0
66.0
229.0
64.4
240.6
65.6
245.5
69.4
247.0
74.5
257.6
267.2
80.7
279.3
79.9
Gross national product.
Services....
Structures..
1947
1948
III
IV
II
1950
1949
Line
III
IV
III
IV
II
III
IV
464.0
467.5
468.0
473.7
477.3
486.0
490.8
495.9
490.9
488.9
493.4
489.2
511.5
525.1
542.4
554.6
Final sales
Change in business inventories..
463.9
.1
468.4
-.9
470.8
—2.9
471.0
2.7
473.2
4.1
480.4
5.6
483.9
6.9
5.3
491.3
-.3
496.1
-7.1
495.9
-2.5
496.9
-7.7
507.0
4.4
517.4
7.7
534.4
8.0
532.5
22.1
Goods
Final sales
Change in business inventories-
233.9
233.8
.1
237.0
238.0
-.9
236.3
239.1
-2.9
239.9
237.2
2.7
240.6
236.5
4.1
242.7
237.1
5.6
245.0
238.1
6.9
248.2
242.9
5.3
243.1
243.4
-.3
239.3
246.4
-7.1
241.2
243.8
-2.5
236.1
243.7
-7.7
250.0
245.5
4.4
255.6
247.9
7.7
266.8
258.8
8.0
273.4
251.3
22.1
Durable goods
Final sales
Change in business inventories-
75.3
74.2
1.1
77.4
75.5
2.0
78.4
74.3
4.1
75.5
75.6
-.1
78.7
77.6
1.0
75.6
74.3
1.2
76.5
74.8
1.8
77.6
75.7
2.0
75.6
75.5
.1
70.6
77.2
-6.6
75.4
76.4
-1.1
68.1
75.2
-7.1
85.8
80.1
5.6
96.9
93.1
3.7
104.2
87.7
16.4
Nondurable goods
Final sales
Change in business inventories-
158.6
159.6
-1.0
159.6
162.5
-2.9
157.9
164.9
-7.0
164.4
161.6
2.8
162.0
158.9
3.1
167.1
162.8
4.3
168.5
163.3
5.2
170.5
167.2
3.3
167.5
167.9
-.4
168.6
169.2
-.5
165.8
167.3
-1.5
168.0
168.5
-.6
173.4
168.9
4.5
169.8
167.7
2.1
169.9
165.7
4.2
169.2
163.6
5.6
188.2
41.9
189.0
41.4
186.5
45.2
183.9
49.8
186.5
50.2
189.9
53.4
192.0
53.8
195.3
52.4
196.7
51.2
197.9
51.7
197.6
54.5
195.8
57.3
199.9
61.6
203.8
65.8
207.0
68.6
213.1
68.1
Gross national product.
Services
Structures.
1959
1958
1957
Line
76.5
76.6
-. 1
III
II
IV
III
III
IV
IV
680.4
680.9
685.6
676.7
663.4
668.2
684,4
702.1
710.7
726.3
718.6
726.2
677.9
2.5
678.0
2.9
682.0
3.7
679.7
-3.0
670.2
-6.8
674.4
-6.2
684.0
696.8
5.3
705.7
5.0
713.3
13.0
718.9
-.4
718.0
8.2
Goods
Final sales.
Change in business inventories.
324.6
322.1
2.5
322.8
319.9
2.9
325.2
321.5
3.7
314.7
317.6
-3.0
303.1
309.9
-6.8
304.1
310.2
-6.2
315.2
314.8
.3
325.5
320.3
5.3
326.9
321.9
5.0
338.7
325.7
13.0
328.8
329.1
-.4
335.7
327.5
Durable goods
Final sales
Change in business inventories.
117.9
116.2
1.6
117.2
114.3
2.9
119.4
115.4
4.0
110.0
112.6
-2.5
98.1
105.8
-7.6
96.7
103.4
-6.7
102.2
103.4
-1.2
108.6
106.6
1.9
113.2
108.9
4.3
120.4
111.2
9.2
109.3
113.0
-3.7
112.5
109.3
3.2
Nondurable goods
Final sales
Change in business inventories..
206.7
205.9
.9
205.6
205.6
.0
205.8
206.2
-.3
204.6
205.1
-.4
205.0
204.2
207.4
206.8
.6
212.9
211.4
1.5
217.0
213.6
3.4
213.7
213.1
218.3
214.5
3.8
219.4
216.1
3.3
223.3
218.3
5.0
275.3
80.5
278.6
79.6
281.1
79.4
282.1
80.0
279.9
80.4
284.8
79.4
287.6
81.6
290.4
86.2
294.0
89.8
296.1
91.6
299.2
90.6
302.8
87.7
Gross national product _
Final sales
Change in business inventories..
Services. _ _
Structures.
1966
Line
II
1968
1967
III
III
IV
II
IV
III
IV
969.6
976.3
985.4
992.8
994.4
1,001.3
1,013.6
1,021.5
1,031.4
1,049.4
1,061.8
1,064.7
Final sales
Change in business inventories..
956.0
13.5
958.4
17.8
970.3
15.1
972.3
20.5
979.9
14.6
993.9
7.5
1,001.4
12.2
1,007.7
13.8
1,025.2
6.3
1,037.6
11.8
1,052.6
9.2
1,057.0
7.6
Goods
Final sales
Change in business inventories.
448.5
434.9
13.5
452.9
435.1
17.8
458.2
443.1
15.1
462.9
442.4
20.5
458.6
444.1
14.6
460.1
452.6
7.5
464.2
452.0
12.2
464.7
450.9
13.8
468.9
462.6
6.3
480.1
468.3
11.8
488.7
479.5
9.2
486.7
479.0
7.6
Durable goodsFinal sales.
Change in business inventories..
174.1
165.3
175.7
163.2
12.5
178.0
166.0
12.1
180.6
166.2
14.5
171.8
164.3
7.5
172.3
168.7
3.6
173.0
166.9
6.1
175.0
166.7
8.3
175.1
171.1
4.0
180.8
172.4
8.4
183.7
179.0
4.6
185.4
180.2
5.2
Nondurable goods
Final sales
Change in business inventories..
274.3
269.6
4.7
277.2
271.9
5.4
280.2
277.1
3.1
282.3
276.3
6.0
286.9
279.8
7.1
287.8
284.0
3.9
291.2
285.1
6.1
289.8
284.2
5.5
293.8
291.5
2.3
299.3
295.9
3.4
305.0
300.5
4.5
301.2
298.8
2.4
401.2
119.9
407.1
116.2
412.4
114.8
420.0
109.9
425.6
110.1
429.3
111.9
435.8
113.7
440.0
116.8
441.9
120.6
448.7
120.6
453.5
119.6
455.4
122.6 ,
Gross national product.
Services
Structures..
NOTE.—"Final sales" is classified as durable or nondurable by type of product. "Change
in business inventories" is classified as follows: For manufacturing, by the type of product
produced by the establishment holding the inventory; for trade, by the type of product sold
by the establishment holding the inventory; for construction, durable; and for other industries,
nondurable.
SUEVEY OF CURRENT BUSINESS
Part I January 1976
61
1946—74, and Seasonally Adjusted Quarterly Totals at Annual Rates, 1947-74
1972 dollars)
1959
1958
1960
1962
1961
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
Line
679.5
720.4
736.8
755.3
799.1
830.7
874.4
925.9
981.0
1, 007. 7
1,051.8
1,078.8
1,075.3
1, 107. 5
1,171.1
1,233.4
1,210.7
1
681.3
-1.8
714.0
6.5
732. 4
4. 4
752. 4
2. 9
791.0
8.1
823.0
7.8
867.1
7.3
914.6
11.3
964.3
16.7
995.7
12.0
1, 043. 1
8.7
1, 068. 2
10.6
1,071.0
4.3
1, 100. 9
6.6
1, 161. 7
9.4
1,217.2
16. C
1, 203. 0
7.7
2
3
312.0
313.8
-1.8
332.5
326.1
6.5
337. 1
332. 8
4. 4
338. 1
335. 2
2. 9
362.0
353.8
8.1
373.0
365.2
7.8
394.0
386.7
7.3
421.5
410.2
11.3
455.6
438.9
16.7
461.9
449.9
12.0
481.1
472.4
8.7
492.3
481.7
10.6
483.4
479.1
4.3
491.6
484.9
6.6
526.0
516.6
9.4
568.6
552. e
16. C
549.9
542.2
7.7
4
5
6
101.4
104.8
-3.4
113.8
110.6
3.3
114. 4
111. 6
2.9
112. 5
112. 6
-.1
125.5
121.1
4.4
131.8
128.4
3.4
144.2
139.2
5.0
160.6
152.6
8.0
177.1
165.2
11.9
173.0
166.6
6.4
181.3
175.7
5.6
190.1
183.3
6.8
179.2
179.1
.1
183.4
181.5
1.8
208.4
202.1
6.2
234.5
224.5
10. C
223.5
217.7
5.8
7
8
9
210.6
209.0
1.6
218.7
215.5
3.2
222. 7
221. 2
1. 5
225. 6
222. 7
3. 0
236.5
232.7
3.7
241.1
236.8
4.3
249.9
247.5
2.3
261.0
257.7
3.3
278.5
273.7
4.8
288.9
283.3
5.6
299.8
296.7
3.2
302.2
298.4
3.7
304.2
300.0
4.2
308.2
303.4
4.8
317.7
314.5
3.2
334.1
328. C
6.1
326.5
324.5
1.9
10
11
12
285.6
81.9
298.0
89.9
310. 7
89. 0
325. 5
91. 7
339.9
97.2
354.0
103.8
372.2
108.1
389.1
115.3
410.2
115.2
432.7
113.1
449.9
120.9
465.4
121.1
477.2
114.6
491.1
124.9
510.8
134.3
530.1
134.7
544.7
116.1
13
14
1954
1953
1952
1951
1955
1956
Line
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
562.4
573.2
584.7
585.7
591.3
592.1
598.3
612.5
622.2
626.2
622.4
616.4
608 1 605.6
614.4
626.1
641.1
650.8
660.3
667.0
664.1
667.5 (>67.9 575.7
1
549.0
13.4
553.3
19.9
570.1
14.6
578.7
7.0
584.0
7.3
594.8
-2.7
592.9
5.4
605.3
7.2
618.2
3.9
621.1
5.1
620.6
1.9
621.4
-5.0
611 5
-3 4
609.7
-4.1
617.1
-2.7
624.6
1.5
635.2
5.9
642.7
8.0
652.5
7.8
657.8
9.2
656. 5
7.5
662.0 f >63.0 370.3
5.5
5.4
4.9
2
3
275.3
261.9
13.4
280.9
261.0
19.9
288.0
273.4
14.6
288.3
281.3
7.0
289.2
281.9
7.3
286.7
289.4
-2.7
291.1
285.6
5.4
302.2
295.0
7.2
306.4
302.5
3.9
310.3
305.2
5.1
307.6
305.8
1.9
303.1
308.1
-5.0
293.6
297.0
-3.4
286.5
290.6
-4.1
290.0
292.7
-2.7
298.7
297.2
1.5
303.7
297.8
5.9
314.9
306.9
8.0
321.0
313.2
7.8
325.9
316.7
9.2
321.7
314.2
7.5
321.0 :U9.3 521.6
315.5 1n.4.4 316.2
5.5
5.4
4.9
4
5
6
98.4
91.3
7.1
104.0
89.2
14.8
105.2
92.6
12.7
102.0
97.3
4.7
105.7
100. 9
4.8
100.5
102.8
-2.3
95.5
94.7
.7
107.8
103.9
3.8
110.1
105.5
4.6
108.8
105.9
2.9
109.6
106.5
3.1
100.9
105.9
-5.0
97.9
102.7
-4.8
94.5
100.3
-5.7
96.9
100.3
-3.5
103.1
103.6
-.5
108.7
105. 9
2.8
118.8
113.0
58
119.7
116.5
3.2
121.5
116.4
5. 1
119.2
112.6
6 5
117.5 1115.0 117.1
113.9 1L13.9 113.4
36
10
38
7
8
9
176.9
170.5
6.4
176.9
171.8
5.2
182.7
180.8
1.9
186.2
184.0
2.2
183.5
181.0
2.5
186.2
186.6
-.4
195.6
190.9
4.7
194.5
191.1
3.4
196.4
197.0
-.6
201. 5
199.4
2.2
198.0
199. 3
-1.3
202.2
202.2
.0
195.8
194.4
1.4
191.9
190.3
1.6
193.1
192.4
.7
195.6
193.6
1.9
195.0
191.9
3.1
196.1
193.8
2.2
201.3
196.7
4.6
204.4
200.3
4.1
202.5
201.5
1.0
203.5 5J04.3 204.4
201.6 S>00.5 202.8
1.9
3.8
1.6
10
11
12
220.4
66.7
227.6
64.7
233.4
63.3
234.4
62.9
237.7
64.4
240.4
65.1
242.0
65.2
242.4
67.8
246.3
69.5
246.3
69.6
246.0
68.8
243.5
69.9
242.5
71.9
245.9
73.2
249.1
75.4
250.4
77.0
256.7
80.8
254.0
81.9
258.2
81.1
261.3
79.8
262.6
79.8
265.3 :J67.4 273.5
81.2 81.1 80.6
13
14
1962
1961
1960
1963
1964
1965
Line
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
740.7
738.9
735.7
731.9
736.6
749.0
758.7
776.9
788.1
798.3
804.3
805.8
813.5
823.7
838.8
846.9
861.1
872.0
880.5
883.9
903.0
916.4 J32.3 952.0
1
727.1
13.5
734 .0
4.9
732.7
3.0
735.8
-3.9
740.3
-3.8
747.1
1.9
752.1
6.6
770.2
6.7
777.5
10.6
789.1
9.2
796.3
8.0
801.0
4.7
805.9
7.6
816.8
7.0
829.5
9.3
8 J9.8
7.1
855.0
6.1
864.0
8.0
873.2
7.3
876.1
7.9
889.7
13.4
905.8 319.9 943.2
10.6 12.4
8.8
2
3
344.4
330.9
13.5
340.5
335.6
4.9
336.4
333.4
3.0
327.2
331.1
-3.9
325.8
329.6
-3.8
335.6
333.7
1.9
341.3
334.7
6.6
349.6
342.9
6.7
359.4
348.7
10.6
361.6
352.4
9.2
364.2
356.2
8.0
362.8
358.0
4.7
367 .2
359 .5
7 .6
369.0
362.0
7.0
375.9
366.6
9.3
379.8
372.7
7.1
386.8
380.7
6.1
393.7
385.7
8.0
397.9
390.6
7.3
397.8
389.9
7.9
410.7
397.3
13.4
414.2 424.8 436.4
403.6 412.4 427.6
10.6 12.4
8.8
4
5
6
122.7
110.9
11.7
115.7
113.4
2.3
112.7
111.8
1.0
106.7
110-3
—3.6
102.0
108.2
-6.2
109. 3
111. 3
0
116.6
113.0
3.7
122.0
117.8
4.2
126.2
119.3
6.9
125.5
121.3
4.2
126.5
121.2
5.3
123.8
122.4
1.4
127 .4
124 .0
3.4
131.3
127.0
4.2
133.3
129.5
3.7
135.5
133.1
2.3
140.9
136.6
4.3
144.1
138.7
5.4
145.9
141.2
4.7
145.9
140.4
5.5
157.1
146.9
10.2
158.1 163.4 163.6
149.3 154.3 159.7
3.9
8.8
9.1
7
8
9
221.7
219.9
1.8
224.8
222.2
2.6
223.7
221.6
2.1
220.5
220.8
-.4
223.8
221.4
2.5
226.3
222.4
3.9
224.7
221.7
3.0
227.7
225.2
2.5
233.2
229.4
3.8
236.1
231.0
5.1
237.7
235.0
2.7
239.0
235.6
3.4
239.8
235.5
4.2
237.7
234.9
2.8
242.6
237.1
5.5
244.4
239.5
4.8
245.9
244.1
1.8
249.6
247.0
2.6
252.0
249.4
2.6
251.9
249.5
2.4
253.6
250.4
3.2
256.1 261.4 272.7
254.3 258.1 267.8
3.3
4.9
1.8
10
11
12
305.6
90.7
310.6
87.8
311.3
88.0
315.2
89.5
319.4
91.3
324.0
89.4
326.2
91.2
332.5
94.8
334.1
94.6
339.2
97.5
341.5
98.6
344.8
98.2
347.3
99.0
351.4
103.4
356.8
106.1
360.6
106.5
366.0
108.3
369. 9
108.4
374.5
108.1
378.4
107.8
381.5
110.9
386.3 391.4 397.0
115.8 116.1 118.7
13
14
1970
1969
1972
1971
II
III
IV
1974
1973
jH
3
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
0
1,074.8 1, 079. 6 1,083.4 1, 077. 5 1, 073. 6 1,074 .1 1,082.0 1,071.4 1, 095. 3 1, 103. 3 1,111.0 1,120.5 1,141.2 1, 163. 0 1,178.0 1, 202.2 1,227.7 1,228.4 1, 236. 5 1, 240. 9 1, 228. 7 1, 217. 2 1, 210. 21,186.8
1
1, 065. 0 1, 067. 4 1, 070. 0 1, 070. 6 1, 070. 7 1, 069. 3 1, 075. 7 1, 068. 2 1, 087. 4 1, 093. 3 1, 106. 0 1,116.9 1, 136. 4 1, 152. 9 1, 166. 0 1, 191.3 1,215.8 1,214.8 1, 222. 3 1, 216. 5 1, 216. 3 1, 210. 4 1,206. 0 1, 179. 3
12.2
13.4
6.3
10. C
5.0
10.1
14.2
6.8
3.3
12.1
24.4
4. 2
12.4
9.8
2.9
4.8
3.7
11.9
7.9
10.8
4.8
6.8
7.6
13.6
2
3
491.6
481.8
9.8
493.2
481.0
12.2
494.5
481.0
13.4
489.9
483.1
6.8
483.6
480.7
2.9
486 .1
481.3
4 .8
488.5
482.2
6. 3
475.6
472.4
3.3
490.0
482.1
7.9
488.8
478.8
10.0
492.0
487.0
5.0
495.5
491.8
3.7
505.8
501.0
4.8
522.8
512.7
10.1
530.6
518.5
12.1
545.0
534.2
10.8
564 .8
552 . 8
11
564.6
551.0
13.6
569.0
554.8
14 2
576.1
551.7
24.4
560 .4
548. C
12.4
555.1
548.2
6.8
552. 4
548. 2
4. 2
531.9
524. 4
7.6
4
5
6
189.5
184.4
5.1
189.5
181.4
8.1
192.1
183.2
8.8
189.5
184.3
5.3
181.6
181.4
.1
182.9
182.8
.0
186.1
182.3
3.8
166.3
169.9
-3.7
181.3
179.0
2.3
183.3
178. C
5.3
182.6
181.8
186.3
187.3
-1.0
195.2
193. 6
1.6
203.8
198.3
5.6
209.6
203.4
6.1
224.8
213.2
11.7
231.7
225.0
6.7
235.0
225.8
9.2
235.8
224.8
11.0
235.5
222.6
12.9
227. c
221.*5
6.1
224.0
222. 0
2.0
226. 0
221. 6
4. 4
215.9
205. 2
10.7
7
8
9
302.2
297.4
4.7
303.7
299.6
4.1
302.4
297.8
4.6
300.4
298.9
1.6
302.0
299.2
2.8
303.2
298.4
4.8
302.4
300.0
2.4
309.4
302.4
6.9
308.7
303.1
5.6
305. £
300.8
4.7
309.4
305.2
4.2
309.2
304.5
4.7
310.6
307.4
3.2
319.0
314.4
4.5
321.0
315.1
5.9
320.2
321.0
333.0
327.9
5.2
329.6
325.2
4.4
333.2
330.0
3.2
340.6
329.2
11.5
332.,>
326.^I
6.1J
331. 0
326. 2
4.9
326. 4
326. 6
2
316. 1 10
319. 2 11
-3.1 12
459.5
123.6
462.6
123.8
467.7
121.2
471.8
115.7
475.8
114.2
475.9
112.1
479.0
114.5
478.2
117.6
485.4
119.9
490. C
124.5
491.8
127.2
497.2
127.9
502.2
133.2
507.1
133.1
513.8
133.7
520.0
137.2
523.6
139.4
527.8
136.0
533.2
134.3
535.8
129.0
543. r
124. 3
541. 8
120.4
545. 1
112. 7
548. 1 13
106.8 14
C
SUEVEY OF CURRENT BUSINESS
62
Part I January 1976
Table 1.7.—Gross National Product by Sector and Industry: Annually, 1946-74,
[Billions
1947
1946
Line
Gross national product.
Gross domestic product
209.6
209.0
Business
Nonfarm
Farm
Statistical discrepancy.
Households and institutions..
Government
Federal
State and local.
164.2
18.9
.7
1950
1949
1948
1952
1951
1953
1954
1955
1956
1957
232.8
259.1
258.0
286.2
330.2
347.2
366.1
366.3
399.3
420.7
442.8
231.8
257.9
256.9
284.8
328.7
345.7
364.6
364.5
397.3
418.5
440.5
210.0
234.9
231.5
257.5
294.4
307.3
324.9
323.9
354.0
372.1
188.0
20.2
1.8
212.7
23.3
-1.2
211.7
18.8
1.0
235.5
20.0
2.0
267.4
22.9
4.0
282.5
22.2
2.7
301.2
20.3
3.3
301.3
19.6
3.0
332.8
18.8
2.5
390.8
372.3
18.4
.2
4.5
5.1
5.6
5.9
6.4
6.9
7.2
7.8
8.1
9.1
10.5
20.8
16.7
17.4
19.4
20.9
27.4
31.2
31.9
32.5
34.2
39.1
14.6
6.2
9.4
7.3
8.9
8.5
10.0
9.4
10.7
10.1
16.2
11.2
18.9
12.3
18.6
13.3
17.8
14.7
18.4
15.8
19.0
17.6
19.6
19.6
1.2
1.1
1.3
1.5
1.5
1.5
1.8
2.0
2.2
2.3
Rest of the world.
.5
1948
1947
1949
1950
Line
II
Gross national product.
Gross domestic product.
Business. _.
Nonfarm._
Farm.
Statistical discrepancy.
III
IV
II
III
IV
I
II
III
IV
II
III
IV
224.9
229.1
233.3
243.6
249.6
257.1
264.0
265.5
260.1
256.6
258.6
256.5
267.4
276.9
294.5
305.9
224.0
228.1
232.4
242.6
248.5
255.9
262.8
264.2
258.9
255.5
257.5
255.5
266.2
275.6
293.0
304.5
201.7
205.8
211.1
221.0
226.6
233.5
239.3
240.0
234.1
230.4
232.1
229.3
240.2
249.4
265.6
274.9
180.4
21.3
.0
185.4
18.5
1.9
188.9
20.0
2.3
197.0
21.1
2.9
205.6
21.5
210.8
24.8
-2.1
215.7
24.2
-.6
218.8
22.9
-1.7
214.8
19.6
-.2
210.9
19.0
.5
212.4
18.2
1.6
209.0
18.4
1.9
217.2
18.9
4.0
228.5
19.0
2.0
244.0
20.3
1.3
252.3
21.7
.9
4.6
5.1
5.4
5.4
5.3
5.5
5.8
5.7
5.8
5.9
5.8
6.2
6.3
6. 3
6.4
6.7
17.6
17.1
15.9
16.2
16.5
16.9
17.7
18.5
19.0
19.2
19.6
20.0
19.7
19.9
21.0
22.9
Federal
State and local.
10.6
7.0
10.0
7.2
8.5
7.4
8.6
8.3
9.0
8.7
9.5
9.1
9.8
9.2
9.9
9.3
10.0
9.6
10.3
9.7
9.9
9.8
9.9
10.0
10.7
10.3
12.4
10.5
Rest of the world...
.9
.9
.9
1.2
1.2
1.2
1.2
1.2
1.2
1.0
1.2
1.2
1.5
1.4
Households and institutions..
Government. _.
1.0
1.1
1957
1958
1959
Line
II
Gross national product _
IV
III
II
III
IV
II
III
IV
438.9
441.0
448.2
442.8
435.8
439.9
453.1
466.3
476.0
489.9
486.5
493.5
436.7
438.5
445.7
441.0
433.7
437.7
450.9
463.9
473.7
487.6
484.1
490.8
388.2
389.2
395.4
390.5
382.0
384.4
396.5
409.1
418.4
431.7
427.4
433.3
370.5
18.0
-.3
371.8
18.0
-.6
375.5
18.6
1.3
370.9
18.9
.7
361.4
20.9
-.3
361.8
20.8
1.8
372.2
20.8
3.5
20.5
2.0
399.3
19.9
-.8
413.6
19.1
-1.0
409.6
18.5
412.9
18.8
1.6
Households and institutions _
10.2
10.4
10.7
10.7
11.0
11.6
11.5
11.6
11.8
12.1
12.5
13.0
Government
38.2
40.7
41.7
42.8
43.3
43.5
43.8
44.2
44.6
20.3
21.4
21.0
21.8
21.0
22.2
20.9
22.9
20.9
23.3
20.9
23.7
2.2
2.3
2.3
2.2
2.5
2.7
Gross domestic product
Business
Nonfarm
Farm
Statistical discrepancy.
Federal
State and local..
Rest of the world.
39.7
19.4
18.8
19.6
19.3
2.3
2.6
39.8
19.4
20.3
2.1
2.5
2.3
1967
1966
n
1968
Line
II
Gross national product _
Gross domestic product
Business
Nonfarm
Farm
Statistical discrepancyHouseholds and institutions..
Government
Federal
State and local.
11
Rest of the world.
II
IV
III
II
III
IV
733.7
747.6
759.0
771.7
777.5
785.8
803.1
818.7
837.3
861.8
880.0
894.7
729.5
743.3
754.9
767.4
773.5
781.8
798.3
813.5
832.9
856.7
875.2
890.1
636.3
647.7
655.3
665.0
668.5
674.4
688.1
699.7
715.9
736.5
751.5
764.7
608.0
24.6
3.7
621.0
22.8
4.0
630.2
22.6
2.6
640.9
21.6
2.5
644.6
21.5
2.4
650.5
21.9
2.0
663.0
22.6
2.5
677.0
22.6
.1
694.9
22.2
-1.2
713.7
21.8
1.1
729.0
22.8
-.4
743.0
23.7
-2.0
20.3
20.6
21.6
22.2
22.9
23.7
24.3
24.9
25.5
26.3
26.6
27.1
72.9
75.0
78.0
80.2
82.0
83.7
85.9
89.0
91.4
93.9
97.1
98.3
30.9
42.1
31.7
43.3
33.3
44.8
34.0
46.3
34.6
47.4
35.0
48.7
35.6
50.3
37.2
51.7
37.8
53.6
38.7
55.1
40.4
56.7
40.1
58.2
4.2
4.2
4.1
4.3
4.1
4.1
4.9
4.4
5.2
NOTE.—The industry classification is on an establishment basis.
IV
III
4.6
SUEVEY OF CURRENT BUSINESS
Part I January 1976
63
and Seasonally Adjusted Quarterly Totals at Annual Rates, 1947-74
of dollars]
1962
1963
1964
1965
1966
523. 3
563.8
594.7
635.7
688.1
520.2
560. 2
591.1
631.4
683.4
442. 5
455. 3
490.4
516.5
550.7
596.6
423. 0
20. 2
-.7
433. 4
20. 2
1.6
465.9
20.5
4.0
492.2
20.5
3.7
529.2
19.3
2.2
573.?
22. C
.9
1959
1960
448.9
486.5
506. 0
446.6
484.0
503.5
393.1
427.7
370.7
20.7
1.7
408.9
19.1
2
1958
1961
1967
1968
753.0
796.3
868.5
935.5
982.4
1,063.4
748.8
791.8
863.7
931.1
977.8
1, 056. 8
651.1
682.7
742.2
798.1
831.5
896.9
989.5
625.0
22.9
3.2
658.8
22.2
1.7
720.2
22.6
-.6
776.2
25.2
-3.3
807.6
25.9
-2.1
867.9
27.7
1.3
955.8
32.0
1.7
1970
1969
1971
1972
1973
1974
1, 171. 1
1,306.3
1,406.9
1
1, 164. 1
1, 297. 3
1,392.5
2
1, 107. 8
1, 186. 6
3
1, 057. 0
50.4
.4
1, 138. 7
48.5
-.6
4
5
6
Line
11.4
12.3
13. 8
14. 4
15. 5
16.6
17.8
19.2
21.1
23.9
26.4
29.2
31.6
34.7
37.2
40.4
44.8
7
42.1
44.0
47. 1
50. 5
54. 3
58.0
62.9
67.6
76.5
85.1
95.2
103.7
114.7
125.2
137.4
149.1
161.1
8
20.5
21.6
20.9
23.1
21. 7
25.5
22. 6
27.9
24.1
30.2
25.2
32.9
27.0
35.9
28.3
39. S
32.4
44.1
35.6
49.5
39.3
55.9
41.8
61.9
44.7
70.0
46.8
78.5
50.1
87.3
51.9
97.2
54.7
106.4
9
10
2.2
2.4
2.5
3.1
3.6
3.7
4.4
4.7
4.2
4.6
4.8
4.5
4.6
6.6
7.0
9.0
14.4
11
1952
1951
1953
1954
1955
1956
Line
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
1
II
III
IV
I
II
III
IV
319.9
327.7
334,4
338.5
341.1
341.3
347.0
359.2
365.4
368.8
367.8
362.6
362.0
361.8
366.2
375.0
387.5
395.4
404.0
410.2
411.9
417.4 422.4 430.9
1
318.7
326. 2
332.8
336.8
339.7
339.9
345.5
357. 3
363.8
367.1
366.3
361. 0
360.3
360.1
364.4
373.0
385.5
393.5
402.0
408.2
409.6
415.2 420.1 429.1
2
286.7
292. 5
297.4
300.7
302.3
301.7
306.5
318.7
324.5
327.2
326.4
321.3
320.6
319.9
323.7
331.4
343.7
350.5
358.3
363.6
364.6
369.4 373.1 381.3
3
261.8
22.4
2.6
265.2
23.0
4.3
269.0
22.9
5.5
273.9
23.5
3.4
276.9
21.9
3.6
277.6
22.5
1.6
280.6
23.8
2.1
295.1
20.6
3.0
300.3
20.9
3.3
303.9
20.2
3.2
303.9
19.9
2.6
296.8
20.3
4.3
296.7
20.5
3.5
297.7
19.2
3.0
300.6
19.8
3.2
310.0 321.1
19.1 19.0
3.6
2.3
329.6
19.1
1.9
337.2
18.6
2.4
343.8
18.4
1.4
346.6 351.9 355.0 363.3
18.4
18.2 18.9 18.8
0
0
—. 7
-.3
4
5
6
6.9
6.8
6.9
7.0
7.0
7.1
7.4
7.4
7.5
7.8
8.0
7. 8
7.7
7.9
8.1
25.1
26.8
28.5
29.1
30.3
31.1
31.6
31.7
31.8
32.1
32.0
31.9
31.9
32.3
14.4
10.7
15.9
10.9
17.2
11.3
17.5
11.6
18.5
11.8
19.0
12.0
19.2
12.4
19.0
12.7
18.8
13.0
18.9
13.2
18.6
13.4
18.1
13.7
17.8
14.1
1.3
1.5
1.6
1.7
1.5
1.5
1.5
1.4
1.5
1.6
1.5
1.6
1.7
8.6
8.8
9.2
9.7
9.5
9.6
9.9
10.2
7
32.7
33.0
33.2
34.2
34.5
34.9
35.4
36.2
37.1
37.6
8
17.8
14.5
17.7
15.0
17.8
15.2
17.8
15.4
18.5
15.7
18.6
15.9
18.6
16.4
18.6
16.9
18.9
17.3
19.2
17.9
19.2
18.4
9
10
1.7
1.8
2.0
2.0
1.9
2.0
2.0
2.3
2.2
2.3
1.8
11
1962
1961
1960
8.6
1964
1963
1965
Line
i
I
III
II
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
506.6
506.5
506.2
504.6
507.1
518.2
527.2
540.7
553.0
562.1
567.8
572.3
580.2
587.9
600.5
610.4
622.4
632.4
642.1
646.0
665.4
678.7 695.1 713.3
504.2
504.1
503.7
501.9
504.1
515.3
524.0
537.4
549.9
558.6
564.3
568.2
576.5
584.4
596.8
606.5
618.0
628.2
637.6
641.8
660.4
673.7 690.4 709.2
1
2
445.3
443 6
442.0
439.2
440.6
451.2
458.9
470.4
481.3
489.3
494.2
496. 3
503.7
510.6
521. )
529.7
539.5
548.1
556.2
559.2
577.0
588.5 602.7 618.3
3
426.1
18.8
.4
424.0
20.3
422.9
20.7
-1.6
419.0
21.0
-.8
419.4
20.7
.5
429.4
19.8
2.0
436.8
19.9
2.2
448.2
20.6
1.6
457.1
20.6
3.6
463.3
20.7
5.3
468.9
20.4
4.9
474.4
20.3
2.1
480.1
20.8
2.9
487.9
20.7
2.0
496.4
20.7
4.9
504.5
20.1
5.1
515.2
19.0
5.3
524.4
19.2
4.5
535.4
19.3
1.5
541.7
19.8
-2.3
557.6
20.6
-1.2
567.1 577.5 593.0
22.3 22.5 22.5
-.8
2.8
2.8
4
5
6
n
13.3
13.8
14.0
14.3
14.4
14.2
14.3
14. S
15.1
15.3
15.7
16.0
16.2
16.4
16.7
16.9
17.3
17.8
17.9
18.1
18.3
18.9
19.5
20.2
7
45.7
46.7
47.8
48.4
49.1
49.8
50. 3
52.3
53.4
54.0
54.4
55.4
56.6
57.4
58.2
59.9
61.2
62.2
63.6
64.5
65.2
66.2
68.2
70.8
8
21.1
24.6
21.5
25.2
22.0
25.8
22.1
26.3
22.1
27.0
22.3
27.6
22.6
28.3
23.4
28.9
24.0
29.5
24.0
30.0
24.0
30.4
24.3
31.1
24.7
31.9
24.9
32.5
25.1
33.1
25.9
33.9
26.4
34.8
26.7
35.5
27.4
36.2
27.5
37.0
27.3
37.8
27.5
38.7
28.4
39.8
30.0
40.8
9
10
2.4
2.3
2.5
2.7
3.0
2.9
3. 1
3.3
3.1
3.5
3.5
4. 1
3.7
3.5
3.6
3.9
4.4
4.3
4.5
4.2
5.0
5.0
4.7
4.1
11
1970
1969
II
I
1973
1972
1971
II
IV
I
II
1974
III
IV
I
I
Line
III
IV
III
IV
976.5
992.6
996.3 1,034 .01,056.21,072.4 1, 091.2 1,127.0 1,156.7 1 181.4 1,219.4 1,265.0 1 ,287.8 1 319.7 1,352. 7 1,370.91,391.0 1,424.4 1,441.3
1
972.2
987.8
991.7 1,028 .5 1,049.0 1,066.6 1, 083.2 1, 120.7 1,150.1 1 174.1 1,211.3 1,256.3 1 ,279.1 1 311.0 1,342.8 1,353.9 1,378.9 1,410.6 1,426.6
2
IV
III
IV
913.0 929. ()
946.9
953.3
S64.2
908.2 924. 5
942.5
949.2
959.5
780.7 794. 5
806.7
810.7
816.7
826.9
840.3
842.0
905.6
918.7
950.6
978.0
998.6 1, 030. 7 1, 072. 3 ] , 091. 4 1 119. 9 1, 147. 3 1, 154. 3 1, 175. 8 1, 203. 1 1, 213. 2
3
757.4 772. 3 784. 6 789.9
24.8 24. 3
25.1 26.1
-1.5 —3. *1 -2.9 -5.3
794.1
26.5
-3.9
803.4
26.2
-2.8
816.4
25.4
-1.5
816.7 843 6 860. 2 876.8
25.5
28 2
27.1 26.1
11
3.3
2.8
-. 1
891.2
29.3
-1.8
922.2
31. C
-2.6
944.6
32.0
1.4
963.0
31.1
4.5
993. 1 1, 026. 4 1 , 044. 2 1 065.01,092.31 , 105. 1 1, 132. 5 1, 155. 6 1, 161. 7
55.4
34.1
48.6
56.8
44.8
45.1
42.8
48.1 54.0
-6.2 -1.6
2.4
3.4
3.2
-.9
1.0 -1.8
2.9
4
5
6
I
II
I
872. 8
II
890. 6
III
I
III
28. 3
29.6
30.7
30.8
31.3
31.9
32.6
33. 5
34. 2
34.9
36.0
36.5
37.0
37.4
37.9
38.7
40.1
41.1
41. 8
43.1
44.1
45.6
46.5
99.6 101. i
106. 2
107.8
112.0
114.0
115.7
117.1
122. 2
124. 2
126.1
128.5
133. C
135.1
138.1
142.7
145.3
147.6
150.0
156.6
159.0
161.9
166.9
8
53.7
102.9
53.8
105.2
54.3
107.6
56.9
110.0
9
10
17.0
12.1
13.7
14.8
11
27.9
40.1
59.5
40. 1
60. 3
43.4
62.8
43.2
64.6
45.0
67.0
44.9
69.1
44.7
71.0
44.4
72.8
46. 6
75. 6
46. 6
77. 6
46.5
79.6
47.3
81.2
49.7
83.*
49.2
86.0
49.5
88.6
51.9
90.9
51.7
93.6
51.3
96.3
51.4
98.5
153 6
53 3
100 4
4.9
4. 5
4.4
4.1
4.7
4.3
4.8
4.6
5.5
7.2
5.8
8.0
6.2
6.5
7.3
ii.l
8.8
8.7
8.7
10.0
7
PLANNERS-RESEARCHERS
SAVE TIME AND EFFORT!
USE THE NEW COMPAQ GUIDE TO
DETAILED LOCAL EMPLOYMENT DATA
COVERS 35 INDUSTRIES!
Concerned with economic development in your community?
Here is the long-term detailed data base needed to arrive at the root of economic change
within your community—REGIONAL EMPLOYMENT BY INDUSTRY, 1940-1970. Just
published by the Bureau of Economic Analysis of the U.S. Department of Commerce, this
single volume—edited for comparability with the census of population employment countsprovides data in terms of age of labor force, industrial classification and geographic
uniformity for every county in the United States, the 50 States and the District of Columbia.
Also, the Federal military are included.
Available from the Superintendent of Documents,
U.S. Government Printing Office, Washington, D.C. 20402
Price $9.05. Make check payable to the Superintendent of Documents.
Order by Stock Number 003-024-01119-1.
U.S. DEPARTMENT OF COMMERCE
•
Bureau of Economic Analysis
U. S. GOVERNMENT PRINTING OFFICE : 1976 O - 212-633
CURRENT BUSINESS STATISTICS
JLHE STATISTICS here update series published in the 1973 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (available from the Superintendent of Documents for $6.80) provides a description of each series, references
to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1969 through 1972 (1962-72 for major quarterly
series), annually, 1947-72; for selected series, monthly or quarterly, 1947-72 (where available). Series added or significantly revised after the 1973
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (t), respectively; certain revisions for 1972 issued too late for
inclusion in the 1973 volume appear in the monthly SURVEY beginning with the August 1973 issue. Also, unless otherwise noted, revised monthly
data for periods not shown herein corresponding to revised annual data are available upon request.
The sources of the data are given in the 1973 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 189-90. Statistics originating in Government agencies are not copyrighted and may be reprinted freely.
Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights.
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes areas shown in
the 1973 edition of BUSINESS STATISTICS
1973
1974
1972
IV
I
II
1975
1974
1973
III
IV
I
II
III
I
IV
III
II
IV v
Annual total
Seasonally adjusted quarterly totals at annual rates
* GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
Gross natl onal product, total f
..bil.$_. '1,171.1 '1,306.3 '1,406.9 '1,219.4 '1,265.0 '1,287.8 '1,319.7 '1,352.7 '1,370.9 '1,391.0 '1,424.4 '1,441.3 ' 1,433.6 '1,460.6 ' 1,528.5 1, 573. 2
Personal consumption expenditures, total.. do
733.0
808.5
885.9
761.8
785.7
800.5
818.4
829.5
849.5
877.8
907.7
908.4
926.4
950.3
977.4
998.7
Durable goods, total 9
.. ..do
Motor v ehicles and parts
do
Furniture and household equipment.. -do
111 2
50.6
44.8
122 9
54.4
50.7
121.9
48.0
54.7
117.6
53.8
47.1
124.8
58.2
49.3
124.4
56.4
50.4
123.7
54.4
51.2
118.9
48.4
51.9
118.4
46.1
53.4
123.1
48.7
55.0
128.9
53.5
55.9
117.3
43.6
54.3
118.9
44.6
54.1
123.8
46.1
57.0
131.8
52.1
58.3
136.1
53.2
60.6
Nondurable goods, total 9
Clothing and shoes
Food
Gasoline and oil
do
do
do
..do
299.3
55.1
150.4
24.9
334.4
61.4
168.0
28.3
375.7
65.2
189.4
36.4
311.2
57.9
155.1
26.1
321.4
60.1
161.2
26.7
328.0
60.9
164.3
27.4
339.6
61.9
171.4
28.5
348.5
62.8
175.2
30.6
359.8
64.3
181.3
31.7
371.9
65.3
185.4
37.1
383.9
66.5
193.2
38.2
387.1
64.8
197.4
38.8
394.1
66.7
202.8
38.1
404 8
69.0
206.6
39.6
416.4
71.3
211.4
41.2
424.8
72.6
216.9
41.6
Services, total 9
Household operation. _.
Housing
Transportation
.
do
do
do
. .do
322.4
45.9
112 3
26.0
351.3
50.3
123.1
27.8
388.3
56.4
136.0
30.9
333.0
47.9
115.6
26.7
339.5
48.2
118.9
27.2
348.2
49.8
121.9
27.6
355.2
51.4
124.7
28.0
362.2
51.9
126.8
28.5
371.2
52.7
131.4
29.7
382.8
55.6
134.2
30.4
394.9
57.9
137.4
31.4
404.0
59.2
140.7
32.1
413.4
60.6
143.9
33.0
421.6
63.1
147.0
33.5
429.2
64.7
150.2
34.2
437.7
65.5
154.0
35.1
Gross private domestic investment, total. ..do
188.3
220.5
212.2
200.5
211.7
217.1
221.2
231.9
218.4
212.7
207.6
210.3
168.7
161.4
194.9
208.3
do .
do
.do
do .
178.8
116.8
42.5
74.3
203.0
136.5
49.0
87.5
202.5
147.9
54.4
93.5
189.7
123.8
44.0
79.9
199.3
131.0
46.3
84.8
202.8
134.5
47.7
86.7
205.6
138.5
50.3
88.2
204.2
141.8
51.5
90.4
203.5
145.9
53.4
92.5
203. 4
146.6
54.1
92.4
203.1
148.1
54.0
94.1
199.8
151.1
56.1
95.0
193.5
149.3
54.9
94.4
191.1
146.1
51.1
95.0
197.1
146.7
51.2
95.6
208.4
152.7
53.4
99.3
do
do
do
62.0
9.4
8.8
66.5
17.5
14.1
54.6
9.7
11.6
65.9
10.8
10.3
68.2
12.4
10.1
68.3
14.3
11.0
67.0
15.6
11.0
62.4
27.7
24.0
57.6
14.9
14.1
56.9
9.3
11.0
55.0
4.4
7.6
48.7
10.4
13.7
44.2
-24.8
-23.3
45.0
-29.6
-29.6
50.4
—2.1
-5.7
55.7
2
-5^7
do
do .
do
-3.3
72 7
75.9
7.4
101.5
94.2
7.7
144.2
136.5
-2.1
79.0
81.1
2.0
89.4
87.4
4.5
96.6
92.1
10.2
105.2
95.0
12.8
114.9
102.0
15.6
133.1
117.5
4.0
141.6
137.6
i4s!e
145.5
8.2
153.6
145.3
17.3
148.2
130.9
24.2
140.7
116.4
22.1
148.5
126.4
22 4
15L9
129.4
253.1
102 1
73.5
151.0
269.9
102.0
73.4
168.0
301.1
111.7
77.4
189.4
259.2
102.3
73.3
157.0
265.7
104.1
74.0
161.6
265.7
99.9
73.0
165.8
270.0
100.0
72.3
170.0
278.4
104.0
74.2
174.5
287.5
106.1
74.8
181.4
296.5
108.9
75.8
187.6
305.9
113.6
78.4
192.3
314.4
118.2
80.5
196.3
321.2
119.4
81.4
201.9
324.7
119.2
82.1
205.5
334.1
124.2
84.9
209.9
343.8
129.8
87.4
214.1
do
do
do
do
do
do
'1,161.7
516.6
202.1
314.5
510.8
134.3
1, 288. 8
582.3
228.8
353.5
559.5
147.0
1,397.2
626.5
238.5
388.0
624.1
146.6
1,208.6
538.6
213.0
325.6
529.3
140.7
do
do
.do
'9.4
6.3
3.2
'17.5
10.3
7.2
'9.7
7.5
2.2
'10.8
11.8
10
'12.4
6.8
5.6
'14.3
9.5
4.9
bil.$— '1,171.1
Fixed Investment
_
Nonresidential
Structures
Producers' durable equipment
Residential
Change in business inventories
Nonfarm
Net exports of goods and services
Exports
Imports
. .
Govt. purchases of goods and services, total -do
Federal
_
do
National defense
....
do
State and local
do
By major type of product: f
Final sales, total
Goods, total
Durable goods
..
Nondurable goods
Services
Structures
Change in business inventories...
Durable goods
Nondurable goods.
.
1,252.6 '1,273.5
573.9
565.6
228. 2
226.5
345.6
339.0
552. 7
540.8
146.3
147.0
1,304.1 '1,325.0 '1,356.1 1,381.7 '1,420.0 '1,430.9 '1,458.4 1 490 2 1,530.6 1, 573. 4
721.1
683.5
701.1
660.2
637.3
640.2
620.6
607. 9
600.1
589.7
277.4
267.5
258.8
243.8
239. 3
237.7
245.8
231.4
230.2
230.2
443.7
433.5
424.7
416.4
398.
0
394.4
376.6
383.0
359.5
369. 9
702.7
688.1
672.0
659. 3
649. 7
639 5
602. 1 612.0
578.8
565.8
149. 6
141.4
134.6
138.9
143. 9
149.1 147.2
146.1
146.1
148.6
-.2
'10.4 '-24.8 '-29.6 '-2.1
'4.4
'9.3
'27.7
'14.9
'15.6
-7.8
-5.6
14.9 -14.6 —15.5
5.9
2.7
11.4
13.5
6.7
7.7
3.5
-4.4 -10.2 -14.1
-1.4
6.5
8.2
14.2
4.2
GNP in constant (1972) dollars!
Gross national product, totalf
Personal consumption expenditures, total.-do
Durable goods
Nondurable goods
Services
do
do
do ...
1,240.9 '1,228.7
1,217.2
1, 233. 4
1,210.7
1,202.2
1,227.7
1,228.4
1,236.5
733.0
766.3
759.8
752.8
765.8
766.2
770.5
762. 8
760.0
763.2
111.2
299.3
322. 4
120.9
309.6
335.8
112.5
303.0
344.4
117.6
306.4
328.8
124.0
310.6
331.2
122. 7
308.2
335.3
121.2
311.4
337.9
115.7
308.3
338.9
114.7
304.5
340.8
115.5
303.8
343.9
1,201.5 1, 217. 4
1,210.2 '1,186.8
1,158.6
1,168.1
767.2
748.9
752.3
764.1
771.6
778.2
116.8
304.7
345.7
102.9
298. 9
347.2
104.0
300.8
347.5
106.5
306. 9
350.8
112.3
308.0
351.2
114. 5
311.8
351.9
188.3
207.4
180.0
197.6
205.0
206.1
206.0
212.6
195.9
183.8
173.2
166.9
129.7
124.1
147.8
153.9
Fixed investment
Nonresidential
Residential
Change in business inventories
do
do
do
do
178.8
116.8
62.0
9.4
191.4
131.3
60.1
16.0
172.2
127.5
44.7
7.7
186.7
122. 9
63.8
10.8
193.2
128.6
64.5
11.9
192.5
130.2
62.3
13.6
191.8
132.4
59.4
14.2
188.2
133. 9
54.3
24.4
183.6
134.5
49.1
12.4
177.0
129. 9
47.1
6.8
169.0
125.0
44.1
4.2
159.3
120.8
38.5
7.6
148.7
115.2
33.6
-19.0
144.8
110.8
34.0
-20.7
148.7
110.6
38.0
-.8
153. 7
113.0
40.7
9
Net exports of goods and services
do
-3.3
7.2
16.6
2.1
5.6
8.9
12.1
18.7
15.3
15.1
17.4
21.5
24.9
23.5
24.3
Gross private domestic investment, total. ..do
Govt. purchases of goods and services, total .do
Federal
do
State and local
do
-1.4
253.1
252.5
254.3
253.2
254.7
102.1
96.1
100.4
95.0
99.6
151.0
156.3
159.3
153.6
154.3
r
Revised.
p Preliminary.
t Revised series. E stimates o f national income a nd prodi.ict
and personal income have been revised back to 194€ (descript ive mater ial and e arlier da ta
appear in the Jan. 1976 SURVEY, Parts I and II); re^visions pr ior to No v. 1974 f 3r persorial
261.1
258.7
254.9
255.1
253.6
254.7
251.1 253.5
254.0
255.0
250.5
95. 9
94.9
92.4
93.7
94.7
95.7
94.7
94.7
94.9
94.2
94.9
165.2
163.8
162.5
161.4
158.9
160.2
158.5
159.3
159.0
155.5
156.9
9 Includes data for items nc t shown
incom e appear in table 2.2 in th e Jan. 19 76 SURV EY.
separgitely.
S-l
212-633 O - 76 - S-l
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1973
1 1973 1 1974
1972
I
Annual total
II
January 1976
1974
III
IV
I
II
1975
III
IV
1976
I
II
III
IV*
I
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCTf— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
Implicit price deflators:!
Gross national product
Index, 1972
Personal consumption expenditures
Durable goods
Nondurable goods
Services
Gross private domestic investment:
Fixed investment
Nonresidential
Residential
Govt purchases of goods and services
Federal
State and local
= 100. .
do
do
do
do
do
do
do
do
do
do
Proprietors' income with inventory valuation
and capital consumption adjustments,
total
bil. $-.
Farm
do
Nonfann
do
Rental income of persons with capital consumption adjustment
bil. $
Corp. profits with inventory valuation and capital consumption adjustments, total
bil. $.
Corp. profits with invent, val. adj.:
Domestic total
do
Nonfinancial total 9
do
Durable goods
do
Transportation, communication, and
electric, gas, and sanitary serv
bil. $. Rest of the world
do
Profits before tax total
Profits tax liabilitv
Profits after tax
Dividends
Undistributed profits
"NJ t
t
I
f
116.20
116.6
108.4
124.0
112.7
103.04
102.6
100.7
103.5
102.5
104.84
104.5
101.4
106.4
103.8
106.73
106.2
102.0
109.0
105.1
109.01
108.8
102.8
113.1
106.9
111.58
111.8
103.2
118.2
108. 9
114.28
115.0
106.6
122.4
111.3
117.70
118.3
110.4
126.0
114.2
121.45
121.3
114.0
129.5
116.4
123.74
123.1
114.4
131.0
119.0
125.04
124 .4
116.3
131.9
120.2
127.21
126.7
117.4
135.2
122.2
129. 22
12^3
118.9
136.2
124.4
100.0
100.0
100.0
100.0
100.0
100.0
106.0
104.0
110.6
106.9
106.1
107.5
117.6
116.0
122.1
118.4
117.6
118.9
103.2
101.9
105.8
104.3
103.6
104.8
105.3
103.3
109.7
106.1
105.3
106.6
107.2
104.7
112.9
107.5
106.1
108.3
108.5
106.0
114.9
109.8
109.5
110.0
110.9
108.5
117.4
113.2
112.1
113.8
115.0
112.9
120.7
116.3
114.9
117.1
120.2
118.5
124.9
120.1
118.6
121.0
125.4
125.0
126.7
124.0
124.8
123.6
130.1
129.6
131.6
125.9
127.3
125.1
131.9
131.8
132.3
127.3
128.9
128.4
132.6
132.6
132.5
129.2
130.9
128.2
135.6
135.2
137. 0
131.7
135.3
129.6
1, 067.3 1,141.1 1,031.2
1,052.9
1,122.3 1,129.6
,151.3
1,161.3
,155.2
,180.8
,232.5
797.7
700.9
552.3
22.1
126.5
96.8
873.0
763.1
603.0
22 3
137.7
110.0
769.7
676.5
531.6
22.3
122.6
93.2
787.8
692.5
545.5
21.9
125.2
95.3
805.4
707.6
558.2
21.8
127.7
97.8
828.0
727.1
573.9
22.5
130.7
101.0
843.9
738.7
583.1
22.3
133.3
105.2
863.9
755. 6
597.6
22.1
136.0
108.3
886.3
774.3
613.6
21.9
138.8
112.0
898.1
783.6
617.7
23.0
143.0
114.4
897.1
781.0
611.7
22.9
146.4
116.1
905.4
787.6
615.0
22.8
149.7
117.8
928.2
807.3
631.9
22.8
152.6
120.9
954. 9
830.5
650.3
23.6
156.6
124.4
76.1
18.0
58.1
91.7
32.4
59.3
85.1
25.6
59.5
85.9
26.5
59.4
90.1
31.2
58.9
95.0
35.2
59.7
96.0
36.8
59.3
93.0
33.7
59.3
81.8
22.3
59.5
82.1
21.9
60.2
83.6
24.6
59.0
79.6
21.0
58.6
78.6
20.1
58.5
88.0
29.3
58.7
87.0
28.2
58.8
21.5
21.3
21.0
21.8
21.2
21.3
21.1
21.1
21.0
20.9
20.9
20.8
20.5
20.9
22.0
91.3
101.9
99.6
98.9
100.4
99.6
94.3
89.2
82.0
78.9
96.6
113.1
92.0
17.9
74.1
42.4
20.9
85.9
17.2
68.7
40.9
16.5
87.2
17.1
70.2
39.8
11.6
82.0
18.3
63.7
37.0
9.7
75.1
16.5
58.6
31.9
9.2
77.6
18.3
59.3
30.0
8.9
95.7
15.5
80.2
43.5
16.0
113.4
14.9
98. 6
54.6
24.5
715.1
do
633.8
do
496. 2
do
do ... 22.0
115.6
do
81.4
do
Compensation of employees, total
Wages and salaries total
Private
Military
.
Government civilian
Supplements to wages and salaries
't
105. 92
105.5
101.7
108.0
104.6
bil. $-. '951.9
National income, totalf
P
100.00
100.0
100.0
100.0
100.0
A-
do
do
do
do
- - -do
4-
Af.
f
t •
rlo
92.1
100.2
1,078.1 1,106.8
84.7
15.4
69.3
40.6
22.5
91.7
17.4
74.3
43.8
24.0
82.5
17.3
65.3
37.4
11.8
9.0
4.8
8.5
6.8
7.0
11.0
9.2
6.5
8.1
6.6
8.6
6.5
8.2
7.7
6.2
14.4
7.3
8.8
7.7
10.0
6.7
11.0
5.1
5.8
7.9
5.8
11.3
6.2
96.2
41.5
54.6
24.6
30.0
117.0
48.2
68.8
27.8
40.9
132.1
52.6
79.5
31.1
48.4
115.2
47.8
67.5
26.4
41.0
117.9
48.8
69.1
27.2
41.9
115.8
47.8
68.0
28.1
39.9
119.1
48.6
70.5
29.5
41.0
128.3
49.4
78.9
30.0
48.9
129.6
52.6
77.1
30.9
46.2
146.7
59.3
87.4
31.7
55.7
123.9
49.2
74.7
31.7
43.0
97.1
37.5
59.6
32.1
27.5
108.2
41.6
66.6
32.6
34.0
129.5
50.7
78.8
33.5
45.3
-6.6
2.5
47.0
-18.4
1.6
56.3
-38.5
-2.3
70.7
-15.8
2.5
51.9
-20.6
2.2
54.3
-17.9
1.0
57.6
-19.5
.7
61.3
-28.0
-.7
64.8
-33.7
-1.7
68.7
-37.7
-4.2
76.7
-13.7
-4.5
78.7
-6.6
-5.0
79.7
-9.9
-6.5
82.2
92.9
16.8
76.1
45.6
26.5
90.8
17.5
73.2
44.8
24.7
91.4
17.4
74.0
42.6
23.8
-54.7
-2.7
72.7
33.1
-15.8
-8.6
85.7
DISPOSITION OF PERSONAL INCOME f
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income, total
_._bil. $.. r 942. 5
141.2
Less: Personal tax and nontax payments
do
801.3
Equals: Disposable personal income
do
751.9
Less: Personal outlays©
-do
49.4
Equals: Personal saving§
do
1, 054.3 1,154.7 1,011.6 1,039.0 1,067.8 1,098.8 1,115.9 1,136.6
168.4
171.2
162.1
147.3
158.9
151.2
153.7
145.0
968.2
983.6
891.7
953.8
866.6
914.1 939.9
903.1
901.4
909.5 806.1 821.8
872.6
830.4
840.3 853.4
66.8
81.2
86.5
74.0
70.0
72.7
73.8
60.4
1,171.6 1,194.8 1,203.6 1,223.8 1,261.7 1, 294. 8
180.4
175.3
142.1
174.6
179.6
178.9
996.3 1,015.9 1,024.0 ,081.7 1, 087. 1 1,114.4
974.2 1,001.3 1, 023. 1
931.7
950.4
932.4
91.3
64.6
107.5
73.6
85.9
83.6
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
Manufacturing
Durable goods industries f
Nondurable goods industries t
bil $
do
co _ _
do
88.44
31.35
15.64
15.72
99.74
38.01
19. 25
18.76
112. 40
46.01
22.62
23.39
21.50
7.80
3.92
3.88
24.73
9.16
4.65
4.51
25.04
9.62
4.84
4.78
28.48
11.43
5.84
5.59
24.10
9.49
4.74
4.75
28.16
11.27
5.59
5.69
28.23
11.62
5.65
5.96
31.92
13.63
6.64
6.99
25.82
10.84
5.10
5.74
28.43
12.15
5.59
6.55
27.79 i 31. 45 i 26. 54
13.66
10.98
11.67
6.20
4.94
5.16
7.46
6.04
6.51
Nonmanufacturing
Mining
Railroad . ... .
Air transportation
Other transportation ..
do
do
do ...
do
.. do
57.09
2.42
1.80
2.46
1.46
61.73
2.74
1.96
2.41
1.66
66.39
3.18
2.54
2.00
2.12
13.69
.63
.46
.52
.32
15.57
.71
.46
.72
.43
15.42
.69
.48
.57
.44
17.05
.71
.56
.60
.47
14.61
.68
.50
.47
.34
16.89
.78
.64
.61
.49
16.61
.80
.64
.43
.58
18.29
.91
.78
.48
.71
14.98
.91
.59
.44
.62
16.28
.97
.71
.47
.77
16.12
.94
.62
.50
.85
17.79
1.00
.61
.43
.65
15.56
.96
.60
.29
.65
Public utilities ..
Electric
Gas and other
Communication
Commercial and other
do
do
do
do
do
17.00
14.48
2.52
11.89
20.07
18.71
15.94
2.76
12.85
21.40
20.55
17.63
2.92
13.96
22.05
3.95
3.45
.50
2.87
4.94
4.59
3.91
.68
3.27
5.40
4.82
4.04
.77
3.19
5.24
5.36
4.54
.82
3.53
5.83
4.38
3.85
.52
3.19
5.05
5.30
4.56
.75
3.60
5.46
5.20
4.42
.78
3.39
5.57
5.67
4.80
.87
3.78
5.97
4.42
3.84
.58
3.11
4.88
4.94
4.15
.79
3.22
5.19
5.07
4.16
.91
3.14
5.00
5.88
4.88
1.00
5.15
4.46
.69
29.21
27.90
do
do...
do
do
96.19
35.51
17.88
17.63
97.76
36.58
18. 64
17.94
100. 90
38.81
19.73
19.08
103.74
40.61
20.48
20.13
107. 27
42.96
21.43
21.53
111.40
45.32
22.50
22.82
113.99
47.04
23.08
23.96
116. 22
48.08
23.28
24.80
114.57
49.05
22.86
26.20
112.46
48.78
22.59
26. 19
__do._.
do
do
do
do
60.68
2.59
2.11
2.21
1.53
61.18
2.77
1.75
2.72
1.62
62.09
2.82
1.95
2.49
1.79
63.12
2.76
2.05
2.20
1.73
64.31
2.80
2.10
2.13
1.63
66.08
3.07
2.42
2.21
1.84
66.94
3.27
2.68
1.84
2.16
68.14
3.56
3.05
1.81
2.71
65.52
3.76
2.39
2.09
2.82
63.68
3.78
2.70
1.60
2.75
Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
.
....
Durable goods industries f
Nondurable goods industries 1
Nonmanufacturing
Mining
Railroad
Atr transportation
Other transportation
18.38
18.08
Public utilities
do
15.55
15.40
Electric
do
2.52
2.98
Gas and other
... do...
12.34
12.70
Communication
do. . .
21.55
21.53
Commercial and other
do...
T
Revised.
p Preliminary.
i Estimates (corrected for systematic biases) for Oct.Dec. 1975 and Jan.-Mar. 1976 based on expected capital expenditures of business. Expected
2
expenditures for the year 1975 appear on p. 12 of the Dec. 1975 SURVEY.
Includes communication.
fSee corresponding note on p. S-l.
9 Includes data for items not shown
112.16 i 114.80 i 118.16
49.88
47.39
48.16
22.34
21.82
21.01
27.53
26.34
26.38
64.76
3.82
2.75
2.12
2.99
66.64
3.93
2.36
1.67
2.91
68.28
4.00
2.49
1.36
3.04
23.62
21.54
19.52
19.79
20.28
20.16
20.93
20.97
19.80
20.12
18.58
19.77
18.02
16.41
16.58
17.47
17.03
18.10
17.76
16.72
16.00
17.12
3.86
3.52
3.21
3.25
2.68
3.11
3.17
2.87
3.08
3.00
2.58
12.50
12 95
14.04
13.36
14.01
13.94
13.24
13.12
13.83
2
33.
76
2
34.24
20.34
20.82
20.83
22.04
22.84
21.63
21.36
21.35
21.69
separately.
0Personal outlays comprise personal consumption expenditures, interes
paid by consumers to business, and personal transfer payments to foreigners (net).
§Personal saving is excess of disposable income over personal outlays.
UData for individual durable and nondurable goods industries components appear in the
Mar., June, Sept., and Dec. issues of the SURVEY.
SURVEY OF CURRENT BUSINESS
January 1976
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1973
1972
1974
Annual total
IV
S-3
1973
I
II
1975 »
1974
IV
III
I
II
IV
III
1
II
IV
III
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
1
U.S. BALANCE OF INTERNATIONAL
PAYMENTSd"
Quarterly Data Are Seasonally Adjusted
(Credits -f ; debits -)
Exports of goods and services (excl. transfers under
military grants)
mil. $
Merchandise, adjusted, excl. military
do
Transfers under U.S. military agency sales contracts ..
. ...
mil. $.
Eeceipts of income on U.S. investments
abroad
mil. $
Other services .
.. . __
do
72, 600
49, 388
102, 051
71,379
144,448
98,309
19, 729
13, 395
22 329
15,423
24, 144
16, 958
26, 282
18,451
29 298
20, 547
33 337
22,464
35,510
24,218
37 187
25,034
38413
26,593
37 097
27, 188
35 198
25, 692
37 246
26, 716
1,163
2,342
2,944
295
347
455
531
1,009
663
678
766
837
954
804
1 241
10, 161
11, 888
13, 998
14, 333
26, 068
17, 126
2,905
3,134
3,123
3,436
3,304
3,427
3,576
3,724
3,995
3,747
6,129
4,081
6,447
4,167
7,054
4,333
6,438
4,545
4,304
4,651
4,246
4,456
4 678
4 611
-78,531 -97, 875 -140,623 -20 972 -22,690 -23,978 -24,729 -26 478 -30,345 -35,432 -37,422 -37,424 -33,919 -30, 183 -32 699
-55,797 -70, 424 -103,586 -14,985 -16,334 -17,189 -17,737 -19,164 -22,587 -25,677 -27,349 -27,973 -25,358 -22, 314 -24, 690
-4, 784 -4, 658 -5, 103 -1, 185 -1,174 -1,236 -1,072 -1,177 -1,166 -1,324 -1,279 -1,335 -1,303 -1,209 -1,113
Imports of goods and services^
do
Merchandise, adjusted, excl. military
do
Direct defense expenditures If
do
Payments of income of foreign investments in the
U.S
mil. $
Other services
do
-5, 841 -8,819 -15,946 -1,612 -1,799 -2,096 -2,413 -2,511 -2, 884 -4, 483 -4, 700 -3, 879 -3, 128 -2,854 —2, 900
-12,109 -13,973 -15,988 —3, 190 -3, 383
3 507 -3 626 -3, 708 -3, 948 -4, 094 -4, 237 -4, 130 —3, 806
3,457
3 996
-5,930
Balance on goods and services total
do
Merchandise, adjusted, excl. military . ...do - . -6, 409
Unilateral transactions (excl. military grants) , net
mil. $_. -3,779
-9,710
Balance on current account
do
Long-term capital, net:
-1,335
U.S. Government
..
_
..do
-69
Private. ..
.-do
Balance on current account and long-term capital
mil. $__ -11,113
Non-liquid short-term private capital flows, net
mil. $_. -1,542
710
Allocation of special drawing rights (SD R) do
-1,884
Errors and omissions, net .
.
do
4,177
955
-3,841
Net liquidity balance _
.
__
..do _. -13,829
Liquid private capital flows, net
. _._ dl_ __ 3,475
-10,354
Official reserve transactions balance
do
Changes in liabilities to foreign official agencies:
9,734
Liquid __
.
mil. $.
399
Other readily marketable
do...
189
Nonliquid
do
32
Changes in U.S. official reserve assets, net. _do
Gross liquidity balances, excluding SDR
do... -15,786
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1973
335
-1,490
177
3,825 -1,243
-5, 277 -1,590
-361
-911
166
-231
-7, 182
-755 -1,015
-888
— 3,357 -2,131 -1,116
-849
1,119
-8, 463
-521
-334
57
797
54
—290
-977
-10,702 -1,855 -1,393 -1,085
-4, 238
-12,936 -1,000 -1,543 -1,497
-2,436
209
-9, 602
-833
-3, 875
863
-18,940 -3,511 -6,811 -1,719
2,270
10, 543
2,026 -3,818
551
-8, 397 -1,485 -10,629
-7,651
2,343
-5, 308
4,456
1,118
-475
177
4,698
9,250
1,202
117
-43
-167
220
-111
-1, 434
-25,207 -3,910 -8, 569
8,503
1,646
673
655
-994
259
167
17
-835
1,553
714
2,820
1,383
2,992
-123
Nov.
Annual
-235
-2,315
989
-1,380
3,178
1,830
5,015
3,378
4,547
2,026
-900 -1,173 -2,966 -1,865 -1,265 -1,088 -1, 175 -1,183 -1,047
26 -1,787 -1,500
2,003
653
-99
3,832
1,647
3 500
484
83
-999
-2, 157
-860
-5, 570
-2, 302 -3, 574
-6, 529
-670
1,047
1,580
59 -1,257 -3, 908 -5, 265 -1, 458 -2, 305
1,929
-970
-1,335
-442
-769
1,706 -1,297
1,411
1,917
1,701
-419
264
726
1,014
1,313
1,135
1,236
-950
3,399
2,449
-1, 193
1,745
552
-6, 254
2,054
-4, 200
-3, 897
4,014
-7, 598
2, 731
-4, 868
-1,864 -1,933
11
-354
-452
-147
-62
3,930
-278
751
136
-1
-150
1,826
492
2,318
-13
-15
1,306 -1,507
-2
-210
-3, 813
117
185
443
-358 -1,003
-7, 551 -4, 146
3, 886
630
215
137
-9, 699
-474
-354
-563
-2, 199 -2, 431 -1,357
2,067
843
3,326
920
-6,587 -2, 634
-3, 261 -1,714
2,751
841
-6
-37
208
4,711
4,919
i 1, 423 i-4, 828
321
i -1
-325
-29
-1,418 -1,367
252
i -1
-342
586
1975
1974
1974
78
-1,459
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec. p
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCEf
Seasonally adjusted, at annual rates:f
Total personal income
- .
r
l 192 1 rl 200 4 rl 202.6 '1,203.2 '1,205.0 '1,209.0 '1,217.2
1,262.4 '1,278.7 '1,287.4 '1,295.9
1,245.2
1,244.0
Wage and salary disbursements, total
do
Commodity -producing industries, total-do
Manufacturing
. . ._
..do
Distributive industries
do
701.0
253.4
196.2
168.1
763.6
273.7
211.2
184 3
782. 3
276.2
214.4
190 3
782.0
273.7
210.8
189 8
782.1
271.7
207 8
189 9
779.1
266.1
204 3
190 2
781.7
265.9
204 4
190 7
782.7
265.8
204.9
190 9
787.4
267.0
205.6
191 7
792.7
268.8
207.2
192.9
797.4
270.9
208.8
193.9
808.8
275.6
213.2
197 7
815.6
279.5
216.6
198 2
824.1
281.7
218.7
200.2
831.2
283.2
219.7
202.4
836.3
286.2
222.6
202.8
Service industries. ... _ _ _. .
do
Govt. and govt. enterprises
do
Other labor income
. .
do
Proprietors' income:A
Farm
...
.. _ do
Nonfarm
..
do
130.8
148 6
47.5
145.0
160 6
54 5
149.8
166 0
57 6
151.3
167 2
58.1
152 4
168 1
58 6
153 5
169 3
59 0
154 6
170 5
59 4
154.5
171 5
59 8
156.1
172 6
60.3
157.4
173.6
60.8
158.2
174.4
61.4
160.3
175 2
62 0
161.5
176 4
62 6
163.1
179 0
63.2
165.3
180.3
63.8
166.0
181.2
64.4
32.4
59 3
25.6
59 5
24 6
58 6
25.5
58 8
24 0
58 8
21 0
58 5
17 9
58 6
18 5
58 5
20 1
58 6
21.7
58.6
25 8
58.7
29 3
58 7
32 7
58 8
30 5
58 9
28.3
58 8
25.8
58.7
21.3
27.8
88 4
118.6
21.0
31.1
106 5
140.4
20.9
32.0
114 0
150.2
20.9
31.0
116 0
156.3
20.9
32.1
115 9
159.0
20.8
32.1
116 0
165.4
20.8
32.1
116 1
167.2
20.7
32.4
116 6
168.6
20.5
32.6
117 5
169.3
20.2
32.9
118 6
189.0
20.5
33.2
119.7
176.8
21.0
33.5
121 2
178.1
21.3
33.9
122 9
181.3
21.8
33.8
125 1
180.6
22.0
33.8
127 9
181.4
22.2
31.7
130.4
183.1
49.5
42.2
47.4
48.1
51.2
50.0
50.7
49.3
48.9
48.1
48.9
48.9
49.1
50.4
48.8
013 5 1 119 11 157 1 1 164 3 1 167 6 1 171 3 1 176 2 1 179 7 1 186 2 1 212 5 1, 207. 2 1 222 1 1 234 8 1 245 6 1 256 3
51.6
1,263.6
bil. $
r 1,054. 3
Rental income of persons, with capital consumption adjustment
bil. $_.
Dividends.. _ _
...
do
Personal interest income
do
Transfer payments
do
Less personal contributions for social insurance bil. $.
Total nonfarm income
do
1
'1 154.7
1,301.1
FARM INCOME AND MARKETING^
Cash receipts from farming, including Government
payments, totalt
mil $
Farm marketings and CCC loans, total
Crops
Livestock and products total 9
Dairy products
Meat animals
Poultry and eggs
do
do
do
do
do
do
Indexes of cash receipts from marketings and CCC
loans, unadjusted :f
All commodities
1967—100
Crops
do
Livestock and products
do
Indexes of volume of farm marketings, unadjusted:!:
All commodities
1967—100
Crops
do
Livestock and products
do
89 482
94 051
10 128
8 100
8 958
5 958
5 855
5 628
5 734
5 929
7,939
7 405
8 817
11 639
86
41
45
8
30
6
875
051
824
080
403
824
93 521
52 097
41 424
9' 399
25* 257
6 285
10 044
6 838
7 975
4 850
3 125
8 818
5 479
3' QQQ
5 808
2 797
3' m i
5 759
2 602
3 1 cy
5 571
2 135
3 43fi
5 702
2 008
3 694
5 915
2 394
3 521
7,913
4,211
3 702
7 361
3 717
o g44
8 771
4 613
4
1 822
2 130
2 300
2,255
559
1 789
2 174
540
2 095
11 563 '10 115
6 894 r Q 161
4 669 r 3 954
' 851
854
3 114 ' 2 456
' 615
667
9Q3
223
188
218
283
170
281
445
158
224
316
154
112
125
104
111
122
104
137
182
105
116
137
102
o one
719
1 916
745
1 785
' Revised.
v Preliminary.
i All nonmarketable U.S. Treasury securities issued to
foreign official reserve agencies are included in U.S. liquid liabilities to foreign official agencies
beginning second quarter 1975.
cf More complete details, as well as revisions back to 1960,
appear on p. 26 ff. of the June 1975 issue of the SURVEY.
^Annual data in the 1973 BUSINESS STATISTICS should read as follows (mil. $): 1956 total imports of goods and services,
755
719
811
845
790
793
779
2 204
1 CD
798
2 669
461
510
517
615
161
169
155
156
139
169
160
131
182
166
156
173
222
274
182
206
242
179
246
300
205
324
449
230
'283
'401
'195
93
77
103
91
68
107
90
65
107
91
78
99
117
137
104
110
119
105
128
147
114
173
232
134
'157
4fiQ
493
247
357
164
163
182
148
130
159
110
95
89
99
523
807
10 165
625
657
220
' 112
-19,627; 1953-59 direct defense expenditures, -2,615; -2,642; -2,901; -2,949; -3,216; -3,435;
-3,107.
tSee corresponding note on p. S-l.
AIncludes inventory valuation and capital
consumption adjustments.
JSeries revised beginning 1959; revisions for periods prior to
9 InMay 1974 are available from the U.S. Dept. of Agr., Economic Research Service,
eludes data for items not shown separately.
S-4
January 1976
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1973
1974 P
1974
Nov.
Annual
1975
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
Aug.
July
Oct.
Sept.
Nov.
Dec.*
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION^
Federal Reserve Board Index of Quantity Output
Not seasonally adjusted:
Total index d*
By market groupings:
Products, total- _
Final products
Consumer goods
Automotive products __ .
Home goods and clothing
Equipment .
119.6
'117.2
115.1
120. 9
120. 6
132. 3
117.8
121.2
104. 3
' 117. 6
'116.9
' 126. 7
'111.1
' 116. 1
' 103. 3
114.3
113.6
121.7
94. 9
109. 6
102.2
1967=100..
125.6
124.8
121.6
113.9
110.7
111.4
110.6
110.4
110.6
114.5
109.4
115.5
' 120. 3
do
do
do
do
... .. .do ...
do
123.4
121.3
131.7
136.6
129.1
106.7
123.1
121.7
128.8
110.0
124.6
111.7
121.4
120.4
125.2
106.8
118.6
113. 8
114.1
113 1
116.1
74.1
106.0
109 0
111.9
112.5
116.7
79.4
102.3
106.5
112.8
112.9
117.9
80.3
106.7.
106.0
112.3
112 2
117.4
90.3
103.8
104.9
112.5
112.0
118.7
101.4
105.4
102.8
112.7
112 4
119 4
103 7
106.3
102 7
117.7
117 7
127 1
109.9
113.2
104 6
113.6
113 3
122.7
89.4
103.0
100.2
118 6
118 3
130 9
96 6
115 8
100 6
*• 122. 9
' 123.0
' 135. 9
'112.8
' 120. 6
' 105. 1
131.0
129.3
128.3
127.4
124.8
121.9
117 8
113.4
109.6
108.6
112.5
109.0
112 5
107.8
114.2
106.9
113 5
107 2
117 5
109 2
114.9
102.5
119 9 ' 122. 4 '122.0 ' 120. 0
110 3 '115.9 ' 117.5 ' 116.6
117.1
116.5
do
do
do . .
125 1
122 0
129 7
124.4
120.7
129.7
121.6
118.3
126.4
112.4
109.5
116.5
108.6
105. 9
112.6
109.8
106.4
114.8
108.5
105.7
112.6
109.0
105.0
114.7
109 1
104 1
116 5
113 0
106.7
122.2
106. 7
99.0
117.9
113 4 '118.7 ' 119.0 '117.2
103 8 ' 109. 2 ' 109. 9 ' 108. 5
127 0 ' 132. 2 ' 132. 3 ' 129. 7
113.8
107.0
123.6
do .
129 0
127.3
122.4
125.7
128.7
126.8
126.1
124.2
122 7
127.1
130.0
134 4 ' 133. 3 ' 127. 3 ' 124. 8
127.2
do
125 6
124 8
121 7
117 4
113.7
111.2
110 0
109.9
110 1
111 1
112.2
114 2 ' 116 2 ' 116 7 ' 117.3
118.5
do
do
._ do
193 4
121 3
131 7
123 1
121 7
128.8
121 4
120 9
126 3
11H.7
118.2
123.4
115.4
114.9
120.1
113.7
113.4
118.9
112.4
112.2
118.2
113.0
112.6
119.6
113 4
113 7
121 2
114 2
114.5
123.3
115.3
115.7
125.5
115 8 'T 116. 9 ' 117.0 '117.8
116. 9 ' 117.6
116. 9
115 9
125 7 ' 126. 8 127.2 ' 128. 3
118.9
118.6
129. 6
do
do
do
do
138.9
136.6
125.4
158.2
127.9
110.0
94.9
139.0
119.7
102.1
91.0
123.6
110.1
87.5
69.8
121.5
104.0
80.3
62.6
114.4
101.0
78.2
58.9
115.5
103.1
86.8
73.1
113.2
107.8
93.6
82.4
115.2
110.5
97.6
86 3
119.3
113.2
103.4
93.2
122.8
115.9
106.9
97.7
124.8
116.1 ' 118. 3 ' 118. 0 '118.6
105.9 ' 106. 7 ' 108. 9 ' 109. 2
97.9
100.0
101.2
96 8
123.2 '123.5 ' 123. 9 ' 126. 9
120.1
110.2
101.6
127.2
Home goods 9
do
Appliances, TV, home audio. ..do
Carpeting and furniture
do
140.1
144.6
149 8
138.0
132.0
153.5
129.7
115.3
144.7
123.0
102.5
143.8
117.5
94.4
135.1
114.0
89.0
132.3
112.3
85.0
127.9
115.9
96.7
127.8
117 8
102.3
128 6
118.8
103.5
131 1
121.0
104.8
135.5
121 9 '125.0 ' 123. 4 '123.9
106.5 ' 108. 4 ' 105. 3 '104.6
137.6 ' 137. 9 138.7
136 0
125.6
106.6
Nondurable consumer goods.
do ...
Clothing
.. .
do
Consumer staples
do
Consumer foods and tobacco. ..do
Nonfood staples
do
129 0
116 2
132 4
122.1
143.2
129.2
109.0
134. 5
125.4
144.0
128.8
103.1
135.6
126.2
145.3
128.5
102.0
135.4
125.3
146.1
126.3
95.0
134.5
123.3
146.4
125.6
94.5
133.6
123.2
144.5
124.2
90.9
132.7
120.7
145.3
124.0
89.2
133.3
122.7
144.3
125.3
94.4
133.4
122.4
145.3
127.2
97.7
134.9
124.2
146.4
129.0
101.6
136.3
125.5
147.7
129.4
102.0
136.6
125.8
148.0
Equipment
do
Business equipment
do
Industrial equipment^. .
do ..
Building and mining equipment-do
Manufacturing equipment
do
106 7
122.6
120.1
120.4
113.0
111.7
129.4
128.7
136.0
121.7
113.2
131.0
129.3
140.1
119.4
110.7
127.1
126.7
137.4
116.5
107.8
122.3
122.9
138.4
111.8
105.3
119.3
120. 4
137.0
109. 4
103.9
117.0
118.8
137.7
106.6
103.0
115.4
116.4
132.3
105.6
102. 9
115.0
131.7
105.0
102.2
113.9
114.0
127.7
104.3
125. 5
135.0
109.7
130.3
141.1
109.6
132.9
143.1
109.8
127.6
139.3
102.9
121.6
135.2
91.8
118.0
130.4
91.5
115.1
127.8
88.8
114.2
123.2
92.2
114.7
121.5
98.6
113.9
120.7
98.0
do
80.4
82.3
83.7
83.4
83.8
82.4
82.1
82.4
82.7
82.9
102.2
102.3
113.9
114.9
113.3
113.4
126.9
128.3
105.5 ' 105. 2
114.6 ' 116.4
123.0
123.4
98.0
101.5
82.6
81.4
do
do
do
131 0
133.8
128 7
128.3
129.6
127.3
123.0
121.3
124.2
120.5
118.3
122.5
117.6
115.7
119.2
115.1
112.1
118.4
112.7
109.1
115.6
113.4
110.1
116.1
112.4
107.6
116.2
112.8
106.8
117.4
114.3
108.0
119.3
129 3
130.0
127.6
119 3
129 2
139.9
124.2
127 4
127.3
112.1
123 8
128.5
139.8
122.6
122.1
123.5
104.1
122.2
122.1
131.1
112.7
114.8
114.2
91.7
118.3
116.2
122.9
113.0
110.5
110.3
83.7
116.9
109.2
112.9
117.8
107 4
107.0
82.1
112 0
105.7
108.5
118.1
105 9
104.7
84.7
108 7
105.3
106.2
118.0
105.2
101.6
86.0
104.6
107.9
110.4
117.5
104.9
100.2
87.7
102.1
109. 5
113.2
118.0
106.0
99.8
90.8
97.3
112.3
117.0
119.5
106.8
111.5 ' 115. 1
100.3
106.1 ' 108. 7
92.8
101.7 ' 103. 0
96.8
100.7
102.4
114.0 '118.3
123.4
118.9
126.0 * 333.9
121.1
118.4 '121.3
do
do
do
do
do
do
. do
125 2
129 0
128.7
197 0
121 7
136 5
130 5
124 4
120 7
127.5
124 1
119 9
131 2
131.4
120.9
117.9
124.4
121.0
117.7
129.4
128.2
116.1
112.2
116.0
108.6
107.9
108.2
124.1
111.8
108.2
112.4
107.2
110.6
100.9
118.2
109.3
104.8
107.7
102.1
105.0
97.4
113. 7
107.7
103.5
105.1
98.1
103.1
89.7
112.9
107.9
103.3
103.2
95.0
99.4
89.6
112.4
108.2
102.5
99.8
89.9
90.1
91.9
110.9
109.5
103.2
100.8
91.8
88.7
97.0
110.9
do
do
do
do
117 3
125 8
125.0
126.8
116 3
128 1
133.8
125.2
114.9
128.9
135.1
121.7
109.6
124.8
132.5
116.3
105.4
119.6
126.7
111.5
102.4
115 6
123.6
1C6.6
101.5
112 2
119.3
104.3
101.9
110.8
116.8
104.0
101.7
109 0
113.7
103.8
do
do
do
do
109 1
138.1
81.2
-1OQ O
93.7
107.1
80.9
142.3
83.6
86.4
80.9
139 5
78.9
78.2
79.5
139 1
77 1
77.6
76.6
1
34 2
81.0
85.4
76.7
130 6
84.7
93.1
76.6
131.1
do
do
do
129.1
127 9
129.8
123.6
113.7
105 2
118.8
111.0
101 3
116.9
109.6
99 9
115.3
104.6
00 fi
107.8
102.6
99 8
104.2
do
"do
do
135.1
126 1
143 2
136.1
129.0
120 5
136 9
128.4
120.0
119.6
129.7
115.0
129.7
108.9
Intermediate products
Materials .
do
do
By industry groupings:
Manufacturing
Durable manufactures
Nondurable manufactures
Mining and utilities
Seasonally adjusted:
Total index
By market groupings:
Products, total
Final products _
Consumer goods
.
__ _ .
.
.
Durable consumer goods
Automotive products
Autos
.
Auto parts and allied goods
Commercial transit, farm eq9
Commercial equipment
Transit equipment
Defense and space equipment
Intermediate products
Construction products
Misc. intermediate products
do
"do
do -
Materials
do
Durable goods materials 9
do
Consumer durable parts
do
Equipment parts. . .
do
Nondurable goods materials 9
do
Textile, paper and chem. materials do ...
Fuel and power, industrial
Ido
By industry groupings:
Manufacturing, total. .
Durable manufactures
Primary and fabricated metals
Primary metals ...
Iron and steel
Nonferrous metals
. .
Fabricated metal products
Machinery and allied goods 9 _
Machinery
Nonelectrical machinery
Electrical machinery
Transportation equipment
Motor vehicles and parts
Aerospace and misc. trans, eq
Instruments
Lumber, clay, and glass.
Lumber and products
Clay, glass, and stone products
Furniture and miscellaneous
Furniture and fixtures.
Miscellaneous manufactures
Nondurable manufactures.
Textiles, apparel, and leather
Textile mill products
Apparel products
Leather products
Paper and printing
Paper and products
Printing and publishing..
do
do
do
do
do"
do
do
do
1 97 o
oo 7
Qfi Q
113.2
81.1
-MO Q
125.7
77 ^
125.4
101.9
7A 7
121 0
115 7
135.4
134.0
124.3
113.2
112.3
110.0
J
reh mmar
n* * A / Y '
y.
<fMonthly revisions for 1972 are available upon
udes data for items not shown separately.
« Corrected.
122 2
121.9
96.3
fiQ 7
117.2
88.9
AC
(\
66 1
112 3
108 2
114.3
116.1
109.8 . 104. 1
request,
140.0
128.6
152.1
' 102. 8 ' 102. 6
' 115. 6 115.5
' 114. 5 '115.4
129. 7 ' 133. 1
' 104. 5 ' 104. 0
' 102. 7
116.2
'116.0
' 135. 0
'102.9
103.3
117.2
116.7
136. 9
103.0
' 116. 9 '115.9 '116.4
122.6 '123.3 ' 122. 9
' 105. 0 ' 100. 4 '101.8
117.8
123.0
105.2
81.6
'80.3
80.3
115.4 '116.6 '117.2 '118.4
109.3 '112.0 '112.4 ' 113. 1
120.3 ' 120. 3 ' 121.0
122.5
120.0
114.5
'81.1
112.8 ' 114. 7 ' 115.6 ' 116.3
105.4 ' 107. 0 ' 107 7 ' 108 0
104.1 '106.1 ' 106. 4 ' 108. 2
96.5 ' 97. 2 ' 98 0 ' 101 0
90.4 '91.3 ' 93 3 ' 96.0
108.1
107.3 ' 108. 5 112.3
112.7
116.1 ' 115. 9 '116.2
117. 5
109.3
109.6
102. 6
97.9
117.4
102.3
108.2
112.3
103.8
102.4
108.4
112.9
103.4
105.0
103.7
110.0 ' 111.7
115.1 ' 116. 7
104.4 ' 106. 1
' 105. 8 ' 105. 8
' II9. 9 ' 113.6
118.0
'117.7
' 107. 6 ' 108. 9
107.0
114.8
119.1
110.2
87.6
95.0
80.4
129 7
90.5
100.0
81.3
131.0
91.0
103.2
79.3
132.4
92.9
107.2
79.1
132.1
'94.1
'94.7
111.0 ' 109. 6
'79.2
'79.0
' 134 7 ' 137 9
95.9
111.5
80.8
137. 9
104.8
104 1
105.4
105.9
108 0
104.7
107.0
110 3
105.1
108. 2
112.0
106.2
110.6 ' 113. 1 ' 114. 3 ' 114. 1
114 5 '115.5 ' 116 8 117.0
111.7 '112.8
112.3
108.3
114.7
120.1
121.1
109 4
131 8
123.1 ' 124. 3 ' 124. 6 ' 122. 9
109 6 ' 110. 6 ' 110 8 110 7
136.7 ' 137 2 134.2
135 3
125. 2
123.4 ' 125.7 ' 127. 0 ' 128. 3
104.0 ' 106. 0 ' 107. 6
100.2
121.2 ' 123 1 194 2
115 0
129. ft
109.5
e
119.7
1 90 0
-101
115.6
89.6
113.7
87.5
114.8
90.4
i f\o A.
116.2
93.2
118.6
94.9
120.8
97.4
fifi 7
63 5
CQ f)
70 0
71 9
92 9
73 5
%
133.2
' 139. 1
' 128. 3
' 150. 4
110.6
103.4
100.7
92.8
87.0
103.8
109.7
1 98 ?\
D
' 132. 0
117.9
113.1
103.5
109.3
125.6
137.9
116.3
117.6
118.7
' 130. 6
104.5
' 137. 5
' 126. 2
' 149. 2
' 116 4 ' 116 7
'110.4 ' 111.0
'102.49 ' 101.8
' 105 r' 106 6
124.4
124. 5
r 135. 3 f 136. 6
'121.4 '119.8
1 on 7
1 9Q Q
1O.9 Q
lift. 3
' 130. 2
101.5
' 137. 8
' 126. 3
' 149. 9
'
'
'
'
'
'
•1 AT (•
1A7 Q
-mo o
1
Iftfi Q
m
7
QC Q
71 7
'94.3
110.1
79.2
134.5
96.1
81.2
98 0
'83.8
83.4
116.3
110 8 ' 113. 9 ' 114. 6 ' 114. 9
107 4
103 9
109 4
107 3
106 6
104 2
116.4 ' 124. 0 ' 126. 5 ' 127. 5
111.7
105.8
109.5
109.5
104.5
105.8
107.1 ' 107. 1 ' 106.5 ' 106. 5 ~~107.~2
104.4
102.6
105.9
104.0
100.2
104.7
AData reflect updating of seas, factors for the automotive industry; revisions back to Jan1972 are available from the Bureau of the Census, Wash., D.C. 20233.
SURVEY OF CURRENT BUSINESS
January 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1973
1974 9
1975
1974
Nov.
Annual
S-5
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Nov.
Oct.
Dec. »
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTIONS Continued
Federal Reserve Index of Quantity Output— Con.
Seasonally ad justed— Continued
By industry groupings— Continued
Manufacturing, total— Continued
Nondurable manufactures— Continued
Chemicals, petroleum, and rubber 1967=100.
Chemicals and products
do
Petroleum products
__do
Rubber and plastics products
do
Foods and tobacco
Foods
Tobacco products
149.3
150.2
127.4
163.8
151.7
154.3
124.0
164.4
146.5
148.3
127.0
155.7
141.6
143.1
125.8
148.9
136.5
139.0
126.8
135.4
132.4
134. 6
123.7
132. 0
130.2
133.6
120.1
126.8
131.0
132.8
120.2
133.5
132.4
135.7
118.5
132.7
136.2
138.2
122.4
140.1
140.1
143.4
124.6
141.6
143.6
146.3
126.7
147.8
121.9
122.7
110.7
124.8
126.2
106.4
123.8
125.4
103.8
123.5
125.7
96.2
121.1
122.3
104.7
121.3
122. 3
108.4
120.0
121.3
102.6
122.5
122.9
115.9
122.4
123.7
103.8
123.5
125.1
102.2
124.8
126.3
104.8
125.2
126.7
105.7
' 126. 0
129.0
110.3
130.8
109.5
108.3
104.4
108.9
104.4
127.3
1C9.3
129.2
109.1
107.3
105.1
107.7
99.8
125. 9
105.0
136.8
1C9.8
101.2
67.6
106.4
97.6
125.7
104.4
134.7
106.4
101.1
85.3
103.6
95.3
127.0
107.0
133.8
109.0
103.9
111.3
102.9
95.3
127.3
108. 6
131.1
106.1
106.8
117.5
105.0
97.7
128.8
108.9
125.4
105.1
107.7
117.4
106.1
95.9
128.0
108.5
125.8
104.7
107.4
112.2
106.6
95.0
126.5
105.9
114.8
100.4
105.8
113.6
104.5
94.3
126.8
106.3
110.6
95.3
1C7.6
120.4
105.5
95.7
127.5
106.4
110.3
101.4
106.7
120. 6
104.5
95.5
152.6
161.1
124.2
149.9
159.5
117.9
152.3
162.9
152.6
163.0
152.1
162.5
150.9
161.1
154.1
165.3
153.1
164.2
152.3
163.0
152.6
163.3
153.9
164.9
' 165. 9
mil. $-- ,724,898 1,966,586
68, 952
64, 866
50, 959
53, 736
170,934 163,858
do ._
do
do
Mining and utilities
- -. -- -- __do
Mining
do
Metal mining
do
Stone and earth minerals
do
Coal oil and gas
do
Coal
do
Oil and gas extraction
_ do
Crude oil
do
Utilities
Electric
Qas
-do ..
do
do
146.2
148.8
127.1
148.3 r 149. 7
152.0 ' 153. 7
' 126. 5 ' 128. 1
152.9
' 153. 1
151.1
155.2
129.8
' 127. 4
109.3
' 126. 1 ' 127. 5
' 127. 1 ' 128. 7
111.9
127.9
129.1
127.0
105.0
119.2
98.9
104.4
105.7
104.2
94.7
T
r
127.3
103.7
113.6
103.4
'93.6
105.3
114.6
103.8
'93.4
128.3
' 105. 4
123.2
101.1
' 104. 3
' 119.9
' 101. 9
92.6
154.6
' 156. 1
' 167. 8
156.6
168.4
' 157. 0
156.9
' 152. 0
127. 8
' 105. 3
118.5
99.5
' 1C4. 8
128. 3
' 105. 8
119.8
r 100.
0
102.0
113.7
100.2
BUSINESS SALES §
Mfg. and trade sales (unadj.), total cf ©
161,057 163,758 167,884
170,969
176,098
182,080 172, 981
169,124 172,349
173,441
175,318 174,376
80,740
40,458
40,282
82,902
41,227
41,675
85258
42^492
42,766
86,288
43,280
43,008
87,704
43,908
43,796
87, 018
42, 511
44, 507
48,173
14,703
33,470
48,578
14,965
33,613
49,655
15,432
34,223
49,925
15,506
34,419
49,549
15,440
34,109
50,165
15.775
34,390
50, 350
15, 787
34,563
35,442
15,024
20,418
36, 186
14,995
21,191
36,567
15,329
21,238
37,166
15187
21,979
37,604 37,449
15,919 15,717
21,685 ' 21,732
37, 008
15, 690
21,318
do
,724,898 1,966,586 167,918 162,347 161,915 163,248 159,050 162,374 163,038 165,504
do
do
do- _
,724,898
856,758
392, 092
980, 677
511,614
469, 063
85,675
44,275
41,400
79,737
40,799
38,938
79,234
40,247
38,987
79,214
39,992
39, 222
77,509
39,124
38,385
80,333
40,851
39, 482
79,423
40,183
39,240
do
do. _
do
503, 317
170, 275
333, 042
537, 782
167,313
370, 469
44,529
13,035
31,494
45,109
13,554
31,555
46,006
14,126
31,880
46,914
14.664
32,250
45,951
13,378
32,573
46,813
14,165
32, 648
do _
do
do
364,803
168,074
196,729
448,127
202, 341
245, 786
37, 714
16, 609
21, 105
37,501
16,400
21,101
36,675
16,020
20,655
37, 120
16, 025
21, 095
35,590
14,992
20,598
35, 228
15, 007
20, 221
Mfg. and trade inventories, book value, end of year
or month (unadj ) total t©
mil $
222,531
268,513
269,561 268,513 269,553 270,157 270,344 269,779 266,735 264,342 262,275 260,949
262,128 ' 267,112 268, 562
224,401
271,050 267,075 271,050 271,148 270,252 268,449 266,970 264,335 263,749 263,345 264,662
265,087 ' 266,867 266, 041
120, 870
79, 441
41, 429
150,404 147, 135
97, 967 95, 787
52, 437 51, 348
Mfg and trade sales (seas adj),totalcf
Manufacturing total cf A
Durable goods industries*?" A
Nondurable goods industries. _
Retail trade, total
Durable goods stores
Nondurable goods stores
_
-
Merchant wholesalers, total 0_. . . _
Durable goods establishments
Nondurable goods establishments
BUSINESS INVENTORIES §
Mfg. and trade inventories, book value, end of year
or month (seas adj ) total t©
mil $
150,404 151,624 151,993
97,967 99,124 100,082
52,437 52,500 51,911
151,194 150,184 148,951
99,879 99, 803 99,378
51,315 50, 381 49,573
148,059 147,189 146,583
98,796 98,189 97 199
49,263 49,000 49^384
146,413 ' 146,510 146, 712
96,640 'r 96,215 95, 978
49,773 50,295 50, 734
Manufacturing, total .
Durable goods industries
Nondurable goods industries
do _
do
do
Retail trade, totalf
Durable goods stores
Nondurable goods stores
do
do
do
65, 229
29, 593
35, 636
74, 082
34, 649
39,433
73,964
34, 251
39, 713
74,082
34, 649
39, 433
73,327
34, 267
39, 060
72,308
32, 956
39, 352
71,728
32, 460
39, 268
71,483
32, 375
39, 108
70,826
32, 086
38, 740
70,840
31,909
38, 931
71,503
32,270
39,233
72, 578
33, 324
39, 254
73,049
33, 471
39,578
74, 642
33,813
40, 829
73, 839
33, 712
40, 127
Merchant wholesalers, total 0
Durable goods establishments
Nondurable goods establishments
do
do
do
38, 302
21, 892
16,410
46, 564
27, 779
18, 785
45, 976
27, 293
18, 683
46,564
27,779
18,785
46,197
28,386
17,811
45, 951
28, 315
17, 636
45,527
28,134
17,393
45, 303
28, 019
17, 284
44,558
27,652
16,906
44,850
27,605
17,245
44,653
27,244
17,409
45,501
27,266
18,235
45,625 r 45,715
27,369 ' 27,566
18,256 ' 18,149
45, 490
27,513
17, 977
ratio
1.46
1.50
1.59
1.67
1.67
1.66
1.69
1.64
1.63
1.59
1.56
1.54
1.53
1.52
1.53
Manufacturing, total cf A
Durable goods industriescf A
Materials and supplies
_
Work in process
Finished poods
do
do
do
do
do
1.58
1.91
.56
.87
.48
1.65
2.06
.67
.91
.48
1.72
2.16
.73
.93
.51
1.89
2.40
.82
1.02
.57
1.91
2.46
.85
1.C3
.59
1.92
2.50
.86
1.04
.60
1.95
2.55
.88
1.06
.62
1.87
2.44
.83
1.03
.59
1.88
2.47
.82
1.05
.60
1.83
2.44
.81
1.04
.60
1.78
2.38
.78
1.02
.58
1.72
2.29
.74
.98
.56
1.70
2.23
.72
.95
.56
1.67
2.19
.71
.94
.55
1.69
2.26
.73
.97
.56
Nondurable goods industries
Materials and supplies
Work in process
Finished goods,-
do
do
do
do
1.20
.45
.19
.55
1.19
.47
.19
.53
1.24
.49
.19
.56
1.35
.53
.21
.61
1.35
.53
.20
.62
1.32
.52
.20
.61
1.34
.53
.19
.62
1.2S
.50
.19
.59
1.26
.50
.19
.58
1.22
.48
.18
.56
1.18
.46
.18
.54
1.15
.45
.18
.53
1.16
.45
.18
.53
1.15
.45
.17
.53
1.14
.44
.17
.53
do
do
do
1.46
1.98
1.19
1.54
2.22
1.23
1.66
2.63
1.26
1.64
2.56
1.25
1.59
2.43
1.23
1.54
2.25
1.22
1.56
2.43
1.21
1.53
2.29
1.20
1.47
2.18
1.16
1.46
2.13
1.16
1.44
2.09
1.15
1.45
2.15
1.14
1.47
2.17
1.16
1.49
'2.14
1.19
1.47
2.14
1.16
1.16
1.47
.90
1.13
1.45
.87
1.22
1.64
.89
1.24
1.69
.89
1.26
1.77
.86
1.24
1.77
.84
1.28
1.88
.84
1.29
1.87
.85
1.26
1.84
.83
1.24
1.84
.81
1.22
1.78
.82
1.22
1.80
.83
1.21
1.72
.84
'1.22
'1.75
.84
1.23
1.75
.84
31, 623
43, 123
4,035
3,968
3,949
3,739
3,408
3,625
3,838
3,965
4,333
4,068
4,277
4,203
4,385
4,224
4,584
4,468
4,001
4,475
3,788
4,184
4,346
4,390
4,711
4,873
4,197
4,141
856,778
980, 677
85,144
75, 406
73,923
80, 103
80,184
81,730
80,273
85,494
76,916
83, 692
89,968 ' 90,465
86, 589
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total cf ©
Retail trade, total t—
Durable goods stores
Nondurable goods stores
Merchant wholesalers, total O
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
Shipments (not seas, adj.), totalcf-
_._do-__
464,686 511,614 43, 893 38, 158 37,259
2,214
24, 936
26, 690
1,830
1,857
72, 027
92, 365
8,031
6,690
6,972
4,209
35, 260
46, 116
3,531
3 915
33. 248
2. 585
26. 539
2.156
1.962
r
l
3
Revised.
v Preliminary.
Based on data not seasonally adjusted.
Advance
estimate; total mfrs. shipments for Nov. 1975 do not reflect revisions for selected components.
cf See corresponding note on p. S-6.
§The term "business" here includes only manufacturing and trade; business inventories as shown on p. S-l cover data for all types of producers, both farm and nonfarm. Unadjusted data for manufacturing are shown below on
pp. S-6 and S-7; those for wholesale and retail trade on pp. S-ll and S-12.
fSee note marked "$" on p. S-12; revisions for inventory-sales ratios for retail trade, total,
durable, and nondurable for Jan. 1971-July 1974 appear on pp. 26 ff. of the Nov. 1975 SURVEY.
Durable goods industries, total 9 cf
Stone, clay, and glass products
Primary metals . _
Blast furnaces, steel mills
Nonferrous metals
—
do
do
do
do
do
40, 467 40, 802 42, 015 41,261 43,699 37, 412 40, 798 45, 185
2,355
2,424
2,321
2,216
2.217
1,913
1,997
2,229
6,139
6,935
5,445
6,264
6,580
6,582
7,026
6,191
3,011
3,607
2,705
3,109
3,518
3,795
3,448
3,117
2,089
2,173
1,824
2.014
1.922
1.964
1.972
2.056
9 Includes data for items not shown separately.
J See note
ASee corresponding note on p. S-4.
©Revisions for this item for Jan. 1964-Dec. 1970 (inventories)
Dec. 1974 SURVEY; those for Jan. 1971-July 1974 appear on pp. 28 ff.
OSee note marked "t" on p. S-ll.
45, 404 ' 42,245 2 39,634
r
2, 541
2,364
6,466 ' 6, 167 2 5, 822
r
3,
079
2,977
r
2, 170
2,114
marked "cf" on p. S-4'
appear on pp. 44 ff. of the
of the Nov. 1975 SURVEY.
January 1976
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
Annual
1975
1974
1974
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Shipments (not seas, adj.)— Continued
Durable goods industries— Continued
Fabricated metal products
Machinery except electrical
Electrical machinery
Transportation equipmentcf
Motor vehicles and parts
Instruments and related products
mil $
do
do
do
do
do
53, 707
73, 380
63, 497
113,317
77, 278
14, 334
61, 271
86, 572
66, 741
109, 521
72, 120
16, 053
5,195
7,227
5,514
10,089
6,985
1,493
4,712
7,443
5,117
7,379
4,490
1,344
4,579
6,927
4,674
7,550
4,906
1,215
4,830
7, 758
5,241
8,560
5,344
1,290
4,783
7,900
5,211
9,062
5,727
1,358
5,183
7,789
5,299
9,381
6,166
1,373
5,053
7,507
5,240
9,492
6,234
1,362
5,248
8,122
5, 630
10,131
6,659
1,493
4,844
6,650
4,902
7,927
5,012
1,319
5,307
6,848
5,339
8,748
5, 613
1,443
5,677
7,660
5,807
10, 251
7,181
1,611
' 5, 703
5,156
7,254
' 7, 656
' 5, 890
5,734
10, 808 ' 9, 852 2 8, 767
' 7, 530
6,688
' I , 598 1,549
Nondurable goods Industries total?
Food and kindred products
Tobacco products
Textile mill products
do
do
do
do
392, 092
134, 947
6,201
30, 531
469, 063
156, 744
6,926
33, 097
41,251
14,247
577
2,664
37, 248
13, 372
600
2,262
36, 664
12, 846
568
2,060
39,636
13,629
586
2,287
39, 382
13, 548
591
2,543
39,715
13,535
585
2,446
39, 012
13,256
605
2,528
41,795
14,059
627
2, 924
39,504
13,346
621
2,482
42,894
14,059
647
2,986
44, 783
14, 872
582
3,209
45,061
14,805
637
' 3, 273
do
do
do
do
32, 417
67, 034
35, 815
20, 488
39,812
81,377
56, 852
23, 416
3,474
6,791
5,116
1,987
3,097
6,118
4,970
1,715
3,104
6,292
4,847
1,816
3,293
7,019
4,985
1,923
3,164
7,011
4,875
1,914
3,185
7,183
4,982
1,998
3,171
7,007
4,988
1,957
3,419
7,374
5,376
2,116
3, 185
6,630
5,427
1,910
3,471
7,296
5,865
2,065
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
3,609 r 3, 650
7,878 ' 7, 699
5,742 ' 5, 788
2,153 ' 2, 170
44, 335
14, 592
714
3,121
3,672
7,406
5,967
2,023
do
85,675
79,737
79,234
79,214
77,509
80,333
79,423
80,740
82,902
85,258
86, 288
87,704
do
do
do
do
do
44,275
2,242
8,572
4,635
2,657
40,799
2,070
7,379
3,954
2,338
40,247
2,144
7,241
4,024
2,063
39,992
2,072
6,852
3,699
2, 004
39,124
2,000
6,143
3,252
1,813
40,851
2,181
5,968
3,038
1,822
40.183
2,140
5,711
2,778
1,852
40,458
2,119
5,662
2,744
1,861
41, 227
2,249
5,921
2,865
2,057
42, 492
2,203
6,472
3,166
2,208
43, 280
2,265
7,065
3,805
2,138
43, 908 42,503 42,549
2,395
' 2, 391
6,844 ' 6, 566 2 6, 422
3,278
' 3, 488
' 2, 183 2,172
Fabricated metal products
Machinery except electrical
Electrical machinery
Transportation equipmentc^A
M^otor vehicles and partsA
Instruments and related products
do
do
do
do
do
do
5,256
7,795
5,350
9, 333
6,248
1,464
4,940
7,740
5,076
8,124
5,316
1,357
5,062
7,385
5,114
8,045
4, 970
1,351
4,902
7,415
5,197
8,323
5,138
1,328
4,690
7,291
5,066
8,776
5, 600
1,358
5,113
7,471
5,448
9, 132
5, 952
1,402
5,033
7,326
5,414
9, 033
5, 936
1,365
4,898
7,380
5,306
9,456
6,193
1,402
5,184
7,285
5,368
9,513
6,422
1,412
5,226
7,300
5,472
10, 037
6,765
1,438
5,304
7,398
5,453
9,823
6,785
1,481
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
41,400
14,048
573
2,628
3,532
7,153
5,161
2,062
38, 938
13, 494
615
2,342
3,287
6,866
4,915
1,898
38, 987
13,690
603
2,241
3,215
6,775
4,835
1,957
39,222
13,656
616
2,309
3,230
6,863
4,854
1,899
38, 385
13, 313
606
2,391
3,037
6,711
4,901
1,821
39,482
13.844
605
2,484
3,165
6,637
5,014
1,889
39, 240
13, 435
598
2,589
3,193
6,611
5,064
1,897
40,282
13,675
582
2,751
3,270
6,944
5,272
1,976
41,675
13,893
607
2,884
3,382
7,232
5,477
2,070
42,766
14,165
625
2,933
3,432
7,496
5,890
2,063
43,008
14, 073
562
3,053
3,516
7,618
5,731
2,106
' 43,796
' 14,275
'639
••3,008
' 3, 580
' 7, 762
'5,871
' 2, 098
44, 507
14, 391
709
3,081
3,736
7,790
6,020
2,098
i 80, 572 i 87, 844
i 166,933 1 188, 087
i 111,622 i 128, 361
i 91, 945 i 87, 053
172,361 i 77, 174
i 333,345 1412,158
7,327
16,650
11,364
7, 396
6,301
36,637
6,525
16, 185
11,315
6,317
5,955
33, 440
6,481
16,283
11,086
6,017
5,898
33, 469
6,546
16,400
11,363
6,140
5,769
32,996
6,554
16,211
11,094
6,581
5,545
31, 524
7, 075
16.717
11,349
7, 045
5,972
32,175
7,128
16, 300
11,145
7, 029
6,104
31,717
7,152
16,790
11,275
7,309
5, 957
32,257
7,494
17,171
11,064
7,586
6,378
33,209
7,623
17, 193
11, 175
7,974
6,311
34,982
•7, 883 r' 8, 138
17,390
17, 067
11,109 ' 11,712
'
7, 626
7, 933
6,492 r 6, 708
'36,130
35, 804
8,079
17, 591
11, 407
7,049
6,696
36, 196
i 36, 451 i 38, 873
1131,725 1 147, 601
1112,913 1 128, 725
i 18,812 1 18, 876
3,185
12, 749
11,213
1,536
2,963
12, 547
10, 962
1,585
2,914
12, 434
10, 790
1,644
2,898
12, 729
10, 976
1,753
2,918
12, 484
10, 770
1,714
3,169
12, 698
10, 956
1,742
3,228
12, 372
10, 704
1,668
3,202
12,567
10, 901
1,666
3,366
12, 315
10, 748
1,567
3,431
12, 544
10,812
1,732
3,526
12, 409
10, 744
1,665
Shipments fseas. adj.), total cf A
By industry group:
Durable goods industries total 9 c^A
Stone clay and glass products
Primary metals
Blast furnaces, steel mills
Nonferrous metals
By market category:
Home goods and apparel
do
Consumer staples
do
Equipment and defense prod. , excl. auto cfdo
Automotive equipment A
do
Construction materials and supplies
do
Other materials and supplies
do
Supplementary series:
Household durables
do
Capital goods Industries c?
do
Nondefense cfdo
Defense^
do
87, 018
5,213
' 5, 511
' 7, 776 7,831
5,574
' 5, 634
9,736 ' 9, 103
5,958
' 6, 429
r 1,530
1,520
do
do.
do
120, 312
78, 835
41,477
149, 762
97, 198
52, 564
146,371 149,762 151,943
95,132 97, 198 99,005
51,239 52, 564 52, 938
152,692 151,930 151,351 150,109 148,160 146,494 145,976 145,037 '145,646 146, 139
100,403 100,482 100,729 100,276 98,910 97,869 97,017 95, 927 'r 95,542 95, 452
52,289 51,448 50,622 49, 833 49,250 48,625 48,959 49, 110 50,104 50, 687
Book value (seasonally adjusted), total
By Industry group:
Durable goods industries total 9
Stone clay and glass products
Primary metals .
Blast furnaces, steel mills
Nonferrous metals
do
120, 870
150, 404
147,135 150,404
151,624
151,993 151,194 150,184 148,951 148,059
do
do
do
do.
do
79, 441
2,813
9,356
4,672
3,449
97, 967
3,721
11,861
5,747
4,369
95,787
3, 695
11,290
5,233
4,308
97, 967
3,721
11,861
5,747
4,369
99, 124
3,760
12, 446
6,241
4,403
: 00,082 99, 879
3,741
3,781
13,015 13, 381
6,620
6,920
4,588
4,661
99.803
3,773
13,770
7,234
4,764
99, 378
3, 728
14, 114
7,525
4,807
98,796
3, 692
14.295
7, 769
4,788
98,189
3,651
14,282
7,832
4,774
97,199
3,661
14,090
7,761
4,683
r
96, 640 96,215
3,613 '3,605
13, 789 ' 13,776
7,498 ' 7, 536
4,669 ' 4, 655
Fabricated metal products.
do
Machinery, except electricaL.
do
Electrical machinery
do
Transportation equipment.
do_
Motor vehicles and parts
do
Instruments and related products__do
8,997
16, 703
12, 559
18, 233
5,646
3,268
11, 793
21, 552
14, 684
21. COO
6,697
4,329
11,347
21,132
14,639
20,418
6,278
4,209
11,793
21, 552
14, 684
21, 000
6,697
4,329
11, 825
21, 907
14,801
21,245
6,560
4,292
12,045
22,168
14,758
21,392
6,428
4,223
12, 090
22, 400
14, 347
21, 120
6,266
4,132
11,885
22,478
14,088
21,335
6,296
4,045
11, 678
22, 312
13, 837
21,336
6,188
4,018
11,407
22,116
13,580
21.494
6, 354
3,966
11,285
21,984
13,444
21,481
6,255
3,922
11,091
21,894
13,325
21,116
5,915
3,947
11,028
21,713
13, 212
21,357
5, 991
3,835
By stage of fabrication:
Materials and supplies 9
do
Primary metals
do
Machinery (elec. and nonelec.)._.do
Transportation equipment
do
24, 423
3, 586
8,359
3,888
33, 393
5,408
11,277
4,866
32,164
5,127
11,038
4,423
33, 393
5,408
11,277
4,866
34, 103
5,862
11,505
4,838
34,561
6,193
11,561
4,918
34, 304
6,238
11, 553
4,797
33,738
6,357
11.323
4,714
33, 090
6,411
11,125
4,636
32.676
6,478
10,922
4,761
32,159
' 6, 462
10,723
4,789
31,626
6,277
10,683
4,629
31,370 ' 31,072
6,244 r' 6, 238
10,393
10, 551
4,696 ' 4, 600
Work In process 9
do
Primary metals
do
Machinery (elec. and nonelec.)---do
Transportation equipment
do
36, 078
3,450
13, 407
12, 761
41, 506
3,728
15, 887
14, 247
41,121
3,654
15,794
14,243
41, 506
3,728
15, 887
14, 247
41,454
3,669
15, 817
14, 549
41,632
3,794
15,761
14,594
41,513
4,043
15, 523
14, 420
41.939
4,206
15,556
14,697
42, 022
4,410
15, 349
14, 753
41,917
4,439
15,169
14,822
42,031
4,491
15,208
14,756
41,692
4,471
15,080
14,535
41, 177 '41,175 41, 163
4,288 ' 4, 267 4,314
14, 878 r 14,913 14, 682
14,713 14,784 14,832
Finished goods 9
Primary metals
Machinery (elec and nonelec )
Transportation equipment
do
do
do
do
18, 940
2,320
7,496
1,584
23, 068
2,725
9,072
1,887
22,502
2,509
8,939
1,752
23, 068
2,725
9,072
1,887
23, 567
2,915
9, 386
1,858
23,889
3, 028
9, 604
1,880
24, 062
3,100
9,671
1,903
24,126
3,207
9, 687
1,924
24, 266
3,293
9,675
1,947
24,203
3,378
9, 605
1,911
23,999
3, 329
9, 497
1,936
23,881
3,342
9,456
1,952
24, 093 ' 23,968
3,257 ' 3, 271
9, 496 ' 9, 442
1,948 '1,916
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
41, 429
10, 584
2,460
4,589
3,267
7, 268
2,626
2,627
52, 437
12, 425
2,950
4,812
4,737
10, 605
3,925
3,267
51,348
12,151
2,822
5,006
4,668
10,205
3,892
3,265
52, 437
12, 425
2,950
4,812
4,737
10, 605
3,925
3,267
52, 500
12, 145
3,069
4,694
4,871
10, 924
4,061
3,298
51,911
11,930
3,095
4,543
4,877
10,875
4,210
3,227
51,315
11, 752
3,069
4,380
4,856
10, 887
4,203
3,173
50,381
11,480
3,037
4,267
4,738
10.931
4,157
3,069
49, 573
11,079
3,059
4,226
4,658
10, 888
4,066
3,055
49,263
10.702
3,095
4,200
4,597
10,921
4,107
3,053
49,000
10,679
3,121
4,243
4,489
10,683
4,144
3,022
49,384
10,992
3,149
4,314
4,582
10,821
4,158
2,956
r
49, 773 50,295 50,734
11,362 ' 11,687 11, 935
3,248
3,262
3,113
4,675
4,384 ' 4, 473
4,592
'
4,
571
4,573
10, 783 ' 10,750 10, 783
4,260
'
4,
242
4,212
2,911
2,941 ' 2, 964
15.818
6,597
19, 014
20, 727
8,044
23. 666
9, 740
3,618 r ' 3, 564
12,713
13,044
11,178 ' 10,977
1,866 ' 1, 736
Inventories, end of year or month:
Book value (unadjusted) total
Durable goods industries, total
N endurable goods industries, total ._
20,353 20, 727 20, 715
7,750
8,044
7, 917
23.078 23, 666 24, 035
r
J
2
^ Revised.
Based on data not seasonally adjusted.
Advance estimate; total mfrs.
snipments for Nov. 1975 do not reflect revisions for selected components.
cfAs a result of
corrections in the aircraft, missiles, and parts industry data for this component have been
revised by the Bureau of the Census back to 1968. Revised data prior to May 1973 appear in
2
147,189 146,583 146,413 '146,510 146, 712
' 10,914
' 21,503
' 13,245
' 21,300
' 6, 002
' 3, 818
95, 978
3,554
13, 924
7,640
4,720
10, 958
21, 127
13, 193
21,359
5,970
3,811
30, 899
6.284
10, 212
4,657
23,916
3,326
9,426
1,870
20,436 20, 181 19,734 19, 503 19,232 19,135 19,130 19, 203 ' 19,657 19, 586
7,639 ' 7, 635 7,636
7,407
7, 457
7,540
7,664
7,481
7,463
7,323
23,811 23, 671 23,166 22, 747 22,624 22,408 22,714 22, 931 ' 23,003 23,512
two Census Bureau publications, "Change Sheets" to Mfrs'. Shipments, Inventories, and
Orders: 1967-73 (Series: M3-1.5), issued June and July 1974.
9 Includes data for items not
shown separately.
ASee corresponding note on p. S-4.
SURVEY OF CURRENT BUSINESS
January 1976
1973
Unless otherwise stated In footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1975
1974
1974
Annual
S-7
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Dec.
Nov.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Inventories, end of year or month— Continued
Book value (seasonally adjusted) — Continued
By market category:
Home goods and apparel ._
mil. $
Consumer staples
do
Equip and defense prod excl auto do
Automotive equipment
do
Construction materials and supplies
do
Other materials and supplies
do
Supplementary series:
Household durables
do
Capital goods industries.
do
Nondefense
do
Defense
do
New orders net (not seas ad] ) totalcf
do
Durable goods industries, totalcf
__do
Nondurable goods industries total
do
13 231
16 0°4
31 140
7 305
10 220
42* 950
14 900
19 530
37 967
8 475
13 195
56* 337
14,904
18 979
37 472
8 167
12 906
54 707
14 900
19*530
37 967
8 475
13 195
56 337
14
19
38
8
13
57
558
666
634
338
019
409
14,085
19,657
39 093
8 178
12 990
57,990
13, 582
19, 538
39 226
7 967
12 996
57, 885
13, 071
19 232
39 369
7 934
12 915
57 663
12805 12, 623
18 969 18, 623
39 200 38 959
7 821 7 964
12 890 12 806
57 266 57, 084
12,653
18 472
38844
7 824
19 736
56,660
12,421
18,803
38 739
7,444
12 776
56,400
12,456 rT 12,565 12, 756
19,010 19 463 19 456
38,723 rr38 466 38 247
7,556 7 549 7 486
12 721 r 12 558 12 543
55,947 r 55', 909 56^ 224
6
35
29
5
263
103
488
615
7 522
42* 482
35* 939
6 543
7 528
42031
35 554
6 477
7 522
42 482
35 939
6 543
7
43
36
6
473
282
779
503
7,318
43,816
37,102
6 714
7
43
36
6
6
43
36
6
807
945
967
978
6 684
43774
36 664
7 'llO
6 511
43, 529
36 162
7 367
6 394
43,439
35 984
7 455
6,280
43,346
35 771
7,575
6,247
43,232
35,545
7,687
886, 029
493, 171
392, 858
999, 568
531,462
468 106
83,368
42,402
40.966
72894
36, 024
36 870
72, 026
35, 434
36, 592
78,444
38, 811
39,633
77, 538 79, 345
38, 107 39, 479
39, 431 39, 866
77,916
38, 800
39 116
83, 735
41, 746
41, 989
78,492
38, 807
39,685
83,594
40, 585
43,009
88,967 ' 88,894 85, 383
44, 039 r 43, 575 »• 41,101
44,928 45,319 44, 570
2
886,029
New orders net (seas adj ) total rf/\
do
By industry group:
493, 171
Durable goods industries, total 9 cf A
do
78, 642
Primary metals
do
913
Blast furnaces, steel mills
___do. .. 39,
97 4^fi
Nonferr jus met als
do
57, 881
Fabricated metal products
do
80, 432
Machinery except electrical
do
67, 473
Electrical machinery
do
118,
572
Transportation equipmentcf A
-do _
24, 499
Aircraft missiles and partscf
do
Nondurable goods industries total
do
Industries without unfilled ordersll
do
By market category:
Home goods and apparel
do
Consumer staples
. _.
do
Equip and defense prod excl auto cf do
Automotive equipmentA
do
Construction materials and supplies
do
Other materials and supplies
do
Supplementary series:
Household durables
do
Capital goods industriescf
do
Nondefensecf.
do
Defense cf
do
Unfilled orders, end of year or month (unadjusted),
totalcf
.
mil $
Durable goods industries, totalcf
do
Nondur goods ind with unfilled orders©
do
Unfilled orders, end of year or month (seasonally
adjusted), totalcf mil $
By industry group:
Durable goods industries, total 9 cf
do
Primary metals..
_
do
Blast furnaces steel mills
do
Nonferrous metals _
do
Fabricated metal products
do
Machinery, except electrical
do
Electrical machinery
do
Transportation equipmentcf
do
Aircraft, missiles, and partscf
do
Nondur. goods Ind with unfilled orders© do
By market category:
Home goods, apparel consumer staples do
Equip, and defense prod incl auto cf
do
Construction materials and supplies
do
Other materials and supplies
do
Supplementary series:
Household durables
do
Capital goods Industriescf dc
Nondefensecf
"" """do
Defensecf
do
2
070
713
846
867
r
6,325
r
43,022
r
35
292
r
6,390
42, 830
35 009
7,821
7, 730
1
38,789
999,568
83, 805
76, 704
75, 068
76, 478
74, 363
78, 600
78, 753
80, 237
83,550
85,649
85,453 ' 86,422 86,007
531, 462
94, 667
46, 467
42, 705
7,863
3,974
2fit^
38, 092
6,297
2,982
36, 172
5,071
2,228
i ft^n
37, 362
5,378
2,721
1 707
35, 973
4,961
2,344
38, 983
5,395
2,707
1 fiS3
1 734.
39, 428
5,863
2,985
1007
39, 730
5,887
3,209
1 826
41, 681
6,189
3,131
2 057
42, 688
6,909
3,648
2 173
42, 227 42, 393 rr41,580
6,265
6,877
6, 276
3,139 ' 3, 632 3,079
2 165 r 2 161
2 168
65, 824
94, 070
67, 646
113,431
27, 322
5,226
7,559
4,926
9,298
2,463
4,387
7,426
4,439
8,300
2,462
4,720
6,837
4,919
7,363
1,584
4,784
6,805
4,931
8, 369
2,650
4,449
6,759
4,662
8,186
1,846
4,813
6,946
5,316
8,738
1,736
4,844
7,117
5,183
8, 769
1,974
4,700
6,984
5,153
9,194
2,021
5,111
7,368
5,279
9,793
2,222
5,179
6,929
5,809
9,758
2,016
468, 106
110 046
358, 060
41,100
9 223
31,877
38,612
8 351
30,261
38,896
8 537
30, 359
39,116
8,641
30,475
38, 390
8 484
29', 906
39,617
8 911
30, 706
39,325
9 010
30,315
40, 507
9 346
31, 161
41,869
9 740
32,129
42,961
9,806
33,155
43,226 rr 44,029 44, 717
10,166 10,295 10, 500
33,060 ' 33,734 34, 217
80, 983 2 87 313
166, 960 2 188 082
-2 121 984 2 139 226
93/479 2 86 755
2 76 200 2 80 740
2 346, 423 2 417 452
7,163
16,651
11 308
6 871
6 350
35,462
6,338
16,185
10 921
6 103
5 623
31 534
6,345
16, 301
10 650
5 621
5 795
30 356
6,501
16,389
10,504
6,022
5, 561
31,501
6,474
16, 197
10 228
6 478
5 339
29 647
7,148
16,716
10 (967
6 )30
5 664
31, 175
7,129
16,293
10 910
6 988
5 894
31 539
7,185
16, 807
10 964
7,155
5 803
32 323
7,582
17,176
10976
7, 589
6 233
33,994
7,648
17,220
11,442
7,845
6 316
35,178
7,934 ' 8, 138 8,144
17,078 rr 17,378 17, 592
10,961 r 10,870 11,050
6,833
8,004
7, 491
6,665
6 309 rr 6 452
35,167 36,093 35, 723
20, 349
411
80^
137 933
2 22 869
3 057
12 974
10,623
2 351
2 810
12 127
10, 459
1 668
2 781
11 712
10, 077
1 635
2,842
12, 117
9, 970
2,147
2 830
11 224
9 522
1 702
3 228
11 948
10, 309
1 639
3 218
11 961
10, 302
1 659
3,217
12 047
10, 138
1,909
3,440
12 546
10, 728
1,818
3,466
12, 440
10, 392
2,048
3,555
12, 205
10, 214
1,991
113,452
108, 715
4,737
132 345
128, 563
3 782
134,861 132 345 130,452 128 797 126 151 123 761 121 411 119,657 121,235 121,141 120,143 118,570 117, 367
659 112,518 1111,673
130,701 128, 563 126,741 125, 089 122, 392 119, 852 117, 397 115, 448 116, 845 116, 635 115, 492 113,
5,144
4,506
4,651 r 4, 911
4,209
3 782
4,390
4 160
3 711 3 708
4 014
3 759 3 909
114, 694
133 832
136,869 133 832 129,671 126,939 123 798 122066 121, 396 120,901
109, 862
14, 844
9,884
2,787
129, 944 132,656 129 944 125, 873 123, 246 120, 099 118, 231 117, 476 116, 753 117, 206 117,408 116, 356 114, 845 113,920 1112,742
17 202 18.286 17 202 15, 033 13, 560 12 379 11,807 11, 960 12, 186 12, 455 12, 892 12, 092 r12, 126 ' 11,838 i 11,727
6,943
6 999
7, 143
7 182
7 664
8 459
7 481
6 451 6 916
10 255 11 227 10 255
6 574 6 244
2,714
2,705 r 2, 684 2,679
2,882
2,714
2,679
3,520
2 664
2,749
3 411
2 752
3 411 3,178
392, 858
99 484
293, 374
2
2
2 36, 761
2
144 072
2
123, 723
2
2
38
2
160
2
5,196
7,120
5,144
9,982
1,885
' 5, 282
7,425
9,159
r 1, 829
3,629
11, 885
10, 689
1,196
18097 r 17,867
26,209 r 25,859
19,112 ' 18,989
32, 396 31, 820
20, 529 T 20,258
4 757 r 4, 987
19,253
28,438
20,113
33, 742
21,446
3,693
19 013 18 712
27 905 27 381
19 709 19, 577
33, 153 32, 759
21 109 20 755
3 699 3 835
18 523
27 169
19346
32, 495
20710
3 920
18 326
26, 776
19, 173
32, 236
20, 572
4 148
18253
26,855
19,084
32, 514
20, 799
4 342
18206
26,485
19,422
32, 237
20,661
4 537
17 773
47 761
2 197
65 153
17 670
44, 651
2 143
64 176
17 461
43 159
9 053
63 206
17* 255
41 284
2 120
62 439
16 736
40 108
2 169
61 969
16* 583
40 180
2 264
61 881
16 439
40,964
2 382
2 316
62 022 c 61 945
16 444 16 262
41,163 40,524
1 922
75 352
50 822
24 530
1 769
74 930
50 318
24 612
1,636
74 208
49, 605
24 603
1,580
73 598
48 600
24 998
1 495 1 554
72 339 71 592
47 353 46 709
24 986 24 883
1 546 1,559
71 179 70 664
46 304 45 546
24 875 25 118
1,635
70 891
45, 523
25 368
1,670
70 791
45, 106
25 685
1,701
70 589
44, 578
26 Oil
1,710
69 429
44, 090
25 339
22 109
25 555
23 888
25 003
26 473
24 406
22 755
24*998
26 677
24 923
28 440
26 506
28 117
26 634
28 135
26* 843
30 447
28 896
26 099
28 708
27 283
29 364
29 934
29, 517
963
136
192
130
414
91
384,762
43 335
54 133
193 949
67 798
96 254
1 145
158
230
164
491
102
343, 348
31 569
43 890
97 441
140 881
29 567
1 202
164
258
170
494
116
372, 076
117 559
58 581
107 746
59 483
28 707
1 045
153
223
145
425
99
357, 788
23 086
199 262
55 459
40 497
39 484
19 710
29 592
20 575
34, 375
21 487
3 888
20262
29*907
21,212
34,201
20 970
4 213
2 881
65 295
14* 165
42 353
2 317
65* 981
17 773
47 761
2 502
66 590
18 105
49 672
2
61
40
20
254
580
840
740
1 769
74 930
50 318
24 6i9
329 368
319 149
1Q 71A
29 592
20 575
34, 375
21 487
3 888
2 317
CK QQ1
2 125
62 711
16* 947
40 283
6, 310
1
9, 760
r
3, 619
r
12,228
r
10,690
r
1, 538
121,548 121,945 121,113 119,832 118, 822
19 369
29, 046
20, 378
33, 694
21, 052
3 798
15, 122
22, 002
19, 718
30, 355
18, 397
4 832
5,124
7,521
5,647
r
8, 529
1,836
r 5, 510
1
41,365
1
17, 778
25, 547
19, 062
r 31,244 i 31,265
20, 018
5,199
r
2 367
r
60 970
T
16006
r
2,433
60, 395
15,977
40, 017
40,489
r
r
f
r
1, 765
68,943
43,801
25,142
BUSINESS INCORPORATIONSG
New incorporations (60 States and Dist. Col.):
Unadjusted
number
Seasonally adjustedf.
do
INDUSTRIAL AND COMMERCIAL
FAILURES©
Failures, total
number
1 ORft
785
9 345
9 Q15
728
()9
Commercial service
do
112
1 182
l' 320
128
Construction
do
154
1 419
139
221
1 840
I CR7
Manufacturing and mining
do
105
1 463
126
Retail trade
do
323
4 341
297
4 234
445
Wholesale trade
do
940
91
74
964
95
Liabilities (current), total
thous. $ 2,298,606 3,053,137 344, 659 242, 594 391, 141
Commercial service...
do
244 958 348 166 36 480 21 191 20 546
Construction .
do
309 075 526 598 110 070 28 918 33 223
Manufacturing and mining
do
797 490 833 824 CO 310 99 739 190 470
Retail trade
do
672 831 1 069 656 122 616 73 7°1
109 345
Wholesale trade.. .
do
274 252 274 893 15 183 19 095 37 557
Failure annual rate (seasonally adjusted)
2
No. oer 10.000 concerns
236.4
38. 4
36.3
37.0
46.8
r
pliminarir
A /Kronen r>o-t-;
<-, + ,.
f~ Revised.
XT \Xrrr * P P r^"""»<«y.
'1 Auvanueesumaie;ioiaisiormirs.
new ana unnuea orders
lor3 Nov. 1975 do not reflect revisions for selected components.
2 Based on unadjusted data.
Includes data for Hawaii.
cf See corresponding note on p. S-6.
9 Includes data for items not shown separately.
i«?
JJii * te*tlle mi11 Prod-. leather and prod., paper and allied prod., and print, and pub.
md., unfilled orders for other nondurable goods are zero.
891
3 904
853
987
805
164
141
117
115
133
186
152
178
171
177
121
110
123
140
198
411
365
336
380
378
79
105
80
66
84
175, 917 3242,028 222, 442 205,526 1,295,393
20 404 77 441 31 684 20 803 43 711
27 248 57 483 32 497 31 918 54 648
47 471 38 417 57 046 49 124 92 736
50 643 42 232 70 889 84 673 1 083 690
30 151 26 455 30 326 19 008 20 608
42.2
44.9
36.5 341.9
41.4
43.4
44.9
49.1
46.3
, ,.
, ,
, f
,, ,
n TT<
r tPYtil6
For vi^jv, »»»^»>-»^v»»^^ .^^^ „.-—
—
prod., petroleum and coal prod., chem. and allied prod., rubber and plastics prod.) sales ar
considered equal to new orders.
O Compiled by Dun & Bradstreet, Inc. (failures data
for 48 States and Dist. of Col.; Hawaii included beginning July 1975).
f Revised back to
Mar. 1971 to reflect new seas, factors;c revisions prior to Feb. 1973 will be shown later.
A See
corresponding note on page S-4.
Corrected.
J
n+Yl<*
January 1976
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1973
1974
Annual
1975
1974
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
Prices received, all farm products
1910-14 = 100..
Crops 9-.
do
Commercial vegetables
do
Cotton
do
Feed grains and hay
do
Food grains
. _
do
Fruit
do
Tobacco
do
Livestock and products 9
do
Dairy products
..
do
Meat animals
do
Poultry and eggs.
.
do
Prices paid:
All commodities and services
do
Family living items
_
do
Production items
do
All commodities and services, interest, taxes, and
wage rates (parity index) _ _ 1910-14=100
Parity ratio §
do
CONSUMER PRICES
(U.S. Department of Labor Indexes')
Not Seasonally Adjusted
Allltemsl!
1967=100..
Special group indexes:
All items less shelter^!
do
All items less foodl! ..
do
All items less medical carel!
..
do
Commodities^!
do
Nondurables...
do
Nondurables less food
.
do
Durables^!
do
Commodities less foodfl
do
Services
do
Services less rent
do
Food9
.
do
Meats, poultry, and fish.
.
do
Dairy products .
do
Fruits and vegetables ....
do
Housing
_
do
Shelter 9
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 carsl!
..
do
Public
""do"
Health and recreation 9
do
Medical care
do
Personal care
__
_
do
Reading and recreation
_.
do
Seasonally Adjusted!
All items, percent change from previous month
Commoditiesl!
1967 = 106
Commodities less food^f
do
Food
do
Food at home.. .
do
Fuels and utilities
do
Fuel oil and coal
do
Shelter
do
Apparel and upkeep _
do
Transportation^!.
do
Privatelf
<j0
New cars
do
Health and recreation..
do
475
426
502
422
366
390
337
871
438
370
382
274
283
379
332
718
497
428
666
232
467
483
409
433
420
530
349
821
453
489
555
214
508
448
425
485
552
337
912
424
497
486
228
451
483
437
370
475
526
3H
928
424
484
489
234
438
455
460
312
450
471
330
903
423
490
487
232
427
435
484
275
419
458
321
922
419
487
483
225
420
419
458
286
393
427
341
922
420
479
491
222
431
425
477
272
402
430
343
924
435
474
535
202
452
428
462
307
407
407
375
923
473
471
611
208
463
435
539
311
396
353
392
922
487
468
640
209
476
450
516
342
397
397
392
833
498
478
652
220
476
454
440
362
423
446
358
864
495
500
631
228
492
457
460
377
409
463
383
921
522
528
661
245
490
449
438
420
394
454
352
923
525
561
656
236
470
425
456
419
362
408
339
874
509
588
601
248
518
600
608
257
430
444
420
605
519
494
537
552
526
540
557
528
537
557
523
535
562
516
532
557
515
541
557
530
548
565
536
554
568
545
557
574
545
561
575
550
566
579
558
564
581
552
565
586
550
566
586
552
496
88
578
81
••609
76
••612
r 74
617
71
615
70
612
69
621
69
627
72
632
73
636
75
639
74
645
76
644
76
644
73
646
74
133.1
147.7
154.3
155.4
156.1
157.2
157.8
158.6
159.3
160.6
162.3
162.8
163.6
164.6
165.6
166.3
131.1
130.7
132.9
129.9
132.8
124.8
121.9
123.5
139.1
141.8
141.4
160.4
127.9
142.5
' 146. 1
152.5
150.4
154. 2
152.0
157. 2
147.2
138.0
143.3
158.7
163.3
167.8
164.0
152. 7
164. 3
158.3
161.3
133.1
171.7
157.1
229.2
154. 0
151.0
142.4
143.4
142.7
124.5
141.6
149.5
146.3
157.5
144.2
138.8
153. 5
151.3
155.3
153. 0
158.3
147.7
138.8
143.9
160.1
164.8
169.7
163. 6
155.3
161.3
159.9
163.1
133.7
174.0
158.4
228.8
166.7
152. 3
141.9
143.5
142.5
124.9
138.4
152.0
147.5
159. 0
145. 3
139.8
154.1
151.9
156.0
153.4
158.7
147.2
139.3
143.9
161.3
166.2
170.9
163.5
155.2
163.5
161.3
164.4
134.5
175.6
160.5
228.9
160.2
153.2
139.4
143.2
142.2
123.4
134.9
152.2
148.9
161.0
146.5
141.0
155.0
153.0
156.9
154.4
159.6
148.2
140.3
144.9
162.6
167.5
171.6
162.7
155.6
166.7
162.8
165.9
135.1
177.3
162.2
229.5
162.7
154.7
140.2
143.5
142.5
124.5
133.5
152.3
150.2
163.0
147.8
141.8
155.6
153.9
157.5
155.0
159.7
148.8
142.1
146.0
163.2
168.3
171.3
161.8
155.4
167.4
163.6
166.6
135.5
178.2
163.0
228.3
164.0
155.6
140.9
144.8
144.0
127.3
135.3
152.3
151.1
164.6
148.9
142.0
156.3
154.9
158.2
155.7
160.1
149.8
143.6
147.2
164.1
169.2
171.2
161.8
154.8
167.8
164.7
167.6
135.9
179.4
164.6
229.0
166.3
156.8
141.3
146.2
145.5
127.5
138.1
152.4
152.1
165.8
149.5
143. 5
157.0
155.6
158.9
156.5
160.8
150.5
144.8
148.1
164.5
169.6
171.8
168.2
153.6
169.0
165.3
168.2
136.4
180.1
165.5
230.2
167.3
157.4
141.8
147.4
146.8
126.8
142.2
152.5
152. 6
166.8
149.9
143.8
158.4
156.6
160.3
157.9
162.4
151.2
145.8
148.9
165.7
170.9
174.4
177.2
153.3
177.4
166.4
169.4
136.9
181.4
166.9
230.6
169.4
158.1
141.4
149.8
149.3
127.0
147.5
154.1
153.2
168.1
150.3
144.1
160.3
157.6
162.0
160.1
165.0
152.2
146.9
149.9
166.6
171.9
178.6
187.7
153.4
188.8
167.1
170.2
137.3
182.3
168.0
234.1
170.4
158.3
141.1
152.6
152.3
126.6
153.2
155.0
154.0
169.8
151.2
144.4
160.8
158.3
162.4
160.4
165.2
153.0
147.5
150.7
167.4
172.7
178.1
189.7
154.3
177.9
167.7
170.7
138.0
182.8
168.9
235.7
171.2
158.8
142.3
153.6
153.4
126.8
156.1
155.0
154.6
170.9
151.4
144.7
161.6
159.5
163.2
160.8
165.4
153.8
148.2
151.4
169.1
174.6
177.8
190.3
156.3
167.4
168.9
171.6
138.4
183.9
170.9
238.7
174.0
160.1
143.5
155.4
153.9
126.5
156.6
169.5
155.4
172.2
152.1
146.0
162.6
160.4
164.1
161.7
166.4
154.6
148.9
152.2
170.1
175.7
179.0
192.9
159.4
165.5
169.8
172.5
139.3
184.8
172.0
243.3
174.2
160.9
144.6
156.1
154.8
129.9
156.5
168.8
156.3
173.5
152.9
146.6
163.4
161.5
165.2
162.2
167.1
155.1
149.2
152.6
172.0
177.7
179.8
191.4
162.8
168. 7
171.3
174.1
139.9
186.8
174.4
246.5
176.8
161.6
145.5
157.4
156.1
131.3
153.7
168.9
156.5
173.3
153.6
147.0
164.1
162.1
165.8
162.7
167.6
155.4
149. 3
152. 8
173.1
179.0
180.7
189. 2
165.5
172.1
172. 2
175. 0
140.6
187.8
176.1
248.7
179.0
162.0
145.2
157.6
156.2
134. 0
149. 6
170.1
0.9
152.0
142.9
168.8
169.7
157.6
228.7
160.8
140.7
143.5
142.7
123.8
146.2
0.8
153.2
143.8
170.4
171.7
158.4
229.7
162.6
140.8
143.9
143.1
124.3
147.5
0.6
154.0
144.5
171.9
172.6
160.2
228.2
164.1
140.8
143.5
142.5
121.8
149.0
0.5
154.7
145.6
171.4
171.5
161.2
227.9
166.1
141.2
144.4
143.5
123.4
150.5
0.3
154.8
146.4
170.3
169.9
162.0
224.9
166. 9
141.3
145.4
144.7
126.9
151.4
0.6
155.7
147.5
170.9
170.5
163.8
227.2
168.1
141.3
146.5
145.8
127.5
152.3
0.4
156.3
147.8
171.8
171.6
165.0
229.7
168.9
141.2
147.0
146.2
126.8
152.6
0.8
157.6
148.5
174.4
174.9
167.2
231.5
169.7
141.3
148.8
148.3
127.3
153.0
1.2
159.9
149.9
177.4
178.3
168.5
236.5
170.4
142.4
151.5
151.1
127.1
153.8
0 2
160.2
150.7
177.4
178.3
169.6
237.1
170.7
143.7
153.0
152.8
128.1
154.4
0.5
160.5
151.2
177.6
178.0
171.6
240.1
171.3
142.9
156.0
154.7
129.5
155.2
0.7
161.5
151.7
179.9
180.6
173.0
244.5
172.0
143.3
155.9
154.6
129.4
156.1
0.7
162.2
152.1
180.9
181.5
174.9
246.0
173.6
143.8
157.6
156.1
130.5
156.3
0.5
162. 9
152.6
181.4
182.4
176.1
249. 7
174. 5
144.0
158. 1
156.8
133.3
157. 5
135.0
140.7
124.3
146.7
126.9
136.0
126.4
124.9
126.8
123.8
121.5
111.1
117.6
144.8
130.2
137.7
125.2
125.9
«• 143. 7
147.7
145.5
151.0
140.9
130.6
136.6
152.1
156.0
161.7
163.9
151.9
165.8
150.6
154.4
130.6
163.2
150.2
214.6
145.8
140.5
136.2
137.7
136.6
117.5
122.6
148.0
140.3
150.6
137.3
133.8
463
157. 5
174.7
154.6
147. 5
WHOLESALE PRICESd"
(U.S. Department of Labor Indexet)
Not Seasonally Adjusted
Spot market prices, basic commodities:
22 Commodities...
1967-lOn
9 Foodstuffs
do
13 Raw industrials....
do
All commodities
do
By stage of processing:
Crude materials for further processing... do
Intermediate materials, supplies, etc
do
Finished goodsO...
.
do""""
Consumer finished goods
do
Producerfinishedgoods
do"
By durability of product:
Durable goods
do
Nondurable goods
do
Total manufactures
__ _
"""do"""
Durable manufactures
do...
Nondurable manufactures
do
t 173. 8
i 175. 2
i 173. 1
134.7
i 227. 9
i 243. 2
i 219. 0
160.1
227.8
282.0
196.4
171.9
213.1
264.4
183.4
171.5
205. 1
247.2
180.1
171.8
201.9
236.1
181.1
171.3
198.6
224.5
182.3
170.4
201.2
224.6
186.4
172.1
194.5
210.3
184.2
173.2
187.2
209.4
173.2
173.7
195.5
236.0
171.5
175.7
205.6
249.8
179.6
176.7
206.3
242.8
184.2
177.7
201.4
233.2
181.9
178.9
191.7
210.1
179.8
178.2
189.7
203.3
180.6
178.7
173.9
131.6
127.9
129.2
123.5
196.1
162.9
147.5
149.3
141.0
198.2
178.6
157.7
158.6
154.1
193.9
178.4
168.0
158. 7
155.3
189.3
179.1
159. 3
159.8
157.4
185.8
178.8
159.3
159.4
158.3
182.4
178.1
158.9
158.5
159.7
189.4
179.0
160.0
159.7
160.7
196.7
178.4
161.2
161.1
161.2
197.1
178.4
162.5
162.6
161.7
203.0
179.3
164.5
165.0
162.4
204.1
180 9
164.9
165.3
163.0
207.5
181.0
166.2
166.7
164.0
206.8
182.2
168.0
168.3
166.5
199.8
182.3
168.0
168.1
167.4
201.3
182.6
168.5
168.5
168.0
127.9
139.9
129.2
127.4
131.0
150.1
167.6
154.1
148.6
159.5
160.7
180.4
166.2
159.6
172.9
160.8
179.5
166.9
160.3
173.4
162.4
179.0
168.2
162.0
174.4
163.6
177.1
168.0
163.2
172.8
164.1
175.2
167.8
163.7
171.9
164.8
177.6
168.7
164.4
173.1
165.3
179.1
169.5
164.9
174.1
165. 2
180.2
170.1
165.1
175.1
165.1
183.6
171.4
165.2
177.6
165.7
184 9
172.3
165.7
179.1
166.5
186.1
173.0
166.2
179. <J
168.2
186.9
174.5
168.2
181.0
168.8
185.3
174.4
168.8
180.1
169.4
185.8
174.7
169.4
180.1
'Revised.
1 Computed by BEA.
9 Include.3 data for items no \, shown separately.
§ Ratio of prices received, to prices paid (parity index).
cf1 For actua L wholes lie prices of
individual commodities see respective commodities,
OGooc s to users incl. raiw foods a nd
fuels.
JEff 3ctive Ju ne 1975 SURVEY, indexes have been restate d to reflect new seasonal factors;
H ErTecti ve with
revisec1 indexes for 197C -74 appe ar on p. 39 of tl le Aug. L975 SUR VEY.
the Dejcember 1974 SUR VEY, ind exes have been re vised ba ck to April 1974 t o reflect the correctionL in the u sed car c omponen t.
SURVEY OF CURRENT BUSINESS
January 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1973
1975
1974
1974
Nov.
Annual
S-9
Dec.
Feb.
Jan.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
COMMODITY PRICES—Continued
WHOLESALE PRICEScf— Continued
(U.S. Department of Labor Indexes)— Continued
All commodities— Continued
Farm prod., processed foods and feeds. 1967 = 100..
Farm products 9 _ _ _ _ _ _ _ _ _ _ _ _ d o _ _ _
Fruits and vegetables, fresh and dried-do
Grains
_
__do _ _
Live poultry
do
Livestock
. _ _ _ _ _ __do
Foods and foods, processed 9
do
Beverages and beverage materials
do
Cereal and bakery products..do
Dairy products
__do
Fruits and vegetables, processed
do _ _
Meats, poultry, and
fish
. _ _ _ 'do _ _
159.1
176.3
168.1
183.6
179.5
190.4
177.4
187.7
192.3
257.9
157.4
170.6
189.0
187.8
186.9
283.5
178. 8
156.4
186.5
183.7
163.7
276.0
167.3
159.5
183.8
179.7
174.9
255. 4
173.6
156.0
179.5
174.6
169.0
242.8
176.7
152.0
174.9
171.1
163.8
223.5
170.1
155.4
178.8
177.7
183.4
218. 5
168.3
173.5
181.2
184.5
183.1
213.0
177.6
197.9
182.3
186.2
206.7
203.3
190.6
202.4
188.2
193.7
208.6
219.3
219.1
211.3
189.0
193.2
179.6
237.8
202.4
203.0
190.4
197.1
182.6
232.9
203.9
209. 9
190.5
197.3
183.3
227.4
210.8
207.8
186.1
191.7
179.0
207.9
203.7
193.4
186.0
193.8
190.3
205.5
181.3
191.6
148.1
121.7
134.4
131.1
129.6
167.5
170.9
189.7
140.7
154.2
171.2
179.7
146.4
146.8
154.6
171.1
163.5 ' 160. 5
188.2
158.2
181. 9
146.7
170.1
160.6
186.4
162.6
182.3
148.3
171.2
165.6
182.6
162.2
183.6
148.5
170.9
164.6
177.3
162.2
181.9
148.6
169.5
163.7
179.4
161.7
179.1
148.9
170.8
174.4
179.0
161.0
176.2
149.6
171.0
190.7
179.7
160.4
174.4
150. 5
170.9
199.6
184.6
159.4
176.7
153.2
169.4
209.7
186.3
161.6
175.8
156.3
168.6
204.5
186.1
162.5
177.0
160.8
168.4
209.8
186.2
165.1
177.6
165.6
169.3
210.4
182.6
165.1
177.0
168.1
169.0
200.8
181.0
165.4
174.6
171.3
168.5
198.1
do
125.9
153.8
165.8
166.1
167.5
168. 4
168.9
169.7
170.3
170.7
171.2
172.2
173.1
174.7
175.4
176.1
Chemicals and allied products 911
do
Agric chemicals and chem prod
do
Chemicals, industrial f
do
Drugs and Pharmaceuticals
_ __ do
Fats and oils Inedible
do
110.0
96.6
103.4
104.3
228.3
122.2
146.8
137.7
151.7
112.7
338.2
145.7
172.9
181.1
190.1
121.0
301.3
161.8
174.0
182.2
194.8
121.8
264.3
161.8
176.0
190.1
196.8
123.8
235.3
163.7
178. 1 '
192.9
202.1
124.1
231.6
164.0
181.8
211.6
207.5
124.5
218.2
164.7
182.4
212.5
207.4
125. 9
261.5
164.7
1H2.1
212.1
208.8
125.9
250.5
166.1
181.2
211.0
207.0
126.4
246.7
165. 9
181.4
210.3
206.3
127.5
260.4
167.1
182.1
206.5
207.4
127.5
285.7
167.1
182.2
201.2
208.2
127.4
289.7
169.7
134.3
218.1
129.3
126.7
128.7
208.3
332.4
163.1
162.2
223.4
227.4
398.0
179.7
175.5
238.2
229.0
428.4
180.3
177.2
238.5
232.2
428.8
183.3
181.0
242.3
232.3
409.9
186.5
188.5
240.7
233.0
388.3
191.1
188.1
242.3
236. 5
387.3
194.6
206.9
243.6
238.8
389.3
192.9
219.1
246.1
243.0
385. 9
190.6
220.0
252.2
246.6
382 2
192.6
226.4
258.8
252.4
377.9
195.2
226.8
268.6
254.9
373.3
197.5
231.5
272.1
182.9
197.7
210.4
128.8
260.6
170.2
257.0
364.6
199.3
235.3
275.0
183.4
197.9
211.1
129.3
257.3
170.2
Fuels and related prod., and power 911 do
Coal
^
--do _ _
Electric power U
do
Gas fuels If
do
Petroleum products refined H
do
182.3
199.9
209.2
128.5
264.3
169.7
256.5
371.3
199.5
231.6
274.2
Furniture and household durables 9
Appliances, household _ _ _ _
Furniture, household
Home electronic equipment
115.2
108.5
123.0
91.9
127.9
117.9
136.6
93.1
136.9
126.9
144.5
94.5
137.7
128. 7
144.6
94.7
138.8
130.1
145. 4
95.4
139.1
130.6
145.5
95.6
138.5
130.1
145. 3
95.4
138.5
130.6
145.4
91.9
138.6
131.0
145.3
91.9
139.0
132.2
145.3
93.0
139.2
132.2
145.4
93.3
139.8
132.4
145.5
94.6
140.1
133.6
146.1
92.8
141.1
134.1
147.8
92.8
141.5
135.4
148.5
92.8
142.0
135.7
149.6
92.8
__do
do
do
_ _ d o ___
do
-do___
143.1
130.5
253.9
160.1
177.2
205.2
145.1
140.0
195.9
154.3
183.6
207.1
144.5
144.8
156.5
147.4
165.8
178.1
143.2
144.8
136.7
145.3
165.4
177.2
142.1
145.4
124.7
141.1
164.7
176.5
141.7
145.9
122.3
138.8
169.3
181.3
143.2
146.0
138.5
141.6
169.6
182.3
147. 5
146.8
173.9
151.5
174.9
189.3
147.7
146.9
170.6
153.3
183.0
200.7
148.7
146. 9
182. 5
153.2
181.0
199.7
149.3
147.3
186.8
152.6
179.6
196.8
149.3
147.5
186.6
151,5
179.7
197.8
151.3
149.5
192.3
154.1
179.9
196.6
152.4
150.1
201.0
154.9
179.1
196.0
154.4
150.2
209.1
162.4
178.3
193.1
154.6
150.5
205.2
162.9
183.1
200.2
Machinery and equipment 9
_
do __.
Agricultural machinery and equip
-do
Construction machinery and equip
do
Electrical machinery and equip.. - do
Metalworking machinery and equip
do
121.7
125.9
130.7
112.4
125.5
139.4
143.8
152.3
125.0
146.9
152.7
159.7
169.0
135.4
161.9
154.0
160.3
17G. 0
136.5
163.0
156.6
163.6
177.3
138.1
164.9
157.7
164.4
180.4
138.7
167.1
158.8
166.0
182.0
139.1
168.8
159. 7
166.7
183.8
139.5
169.6
160.4
167.5
184.0
140.1
170.2
161.0
167. 8
184.4
140.4
171.9
161.7
168.5
184.9
140.8
172.7
162.2
168.9
185.4
140.9
173.0
163.1
169.2
187.5
141.8
173.1
164.1
171.3
188.6
142.3
175.1
165.3
174.2
191. 2
143.1
176.3
165.8
175.1
192.5
143.1
176. 9
Metals and metal products 9
Pleating equipment
Iron and steel _ _ _
_ _
Nonferrous metals
do
__do__ _
___do
do
132.8
120.4
136.2
135.0
171.9
135.0
178.6
187.1
186.7
147.0
199.7
187.2
184.6
148.5
196.7
181.8
185.5
148.3
199.4
178.8
186.3
149.0
200.5
176.1
186.1
149.5
200.6
173.9
185.7
149.8
201.1
172.2
185.1
150.2
200.6
171.1
184. 5
150.5
199.4
169.1
183.4
150.2
197.3
167.7
184.3
150.3
198.4
169.3
185.5
150.3
200.4
170.8
187.2
151. 9
204.7
170.7
187.0
152.9
204.1
170.1
187.1
155.2
204.3
169.4
Nonmetallic mineral products 9
do
Clay prod., structural, excl. refrac
do
Concrete products
_
do
Gypsum products
do
Pulp, paper, and allied products
__do
Paper.. _
_ _ _ _ _ _ _ . _ _ __do
Kubberand plastics products
do
Tires and tubes
_ _ _ _ __do__ _
130.2
123.3
131.7
120.9
122.1
121.4
112.4
111.4
153.2
135.2
151.7
137.6
151.7
148.6
136.2
133.4
163.4
141.2
160.4
143.8
166.9
166.4
148.5
142.7
164.3
143.2
161.8
144.3
167.2
167.5
149.4
143.4
168.5
145.4
167.1
143.7
169.8
173.3
149.6
143.7
170.3
146.8
168.1
143.7
169.8
173.4
150.0
145.1
170.8
146.8
169.0
145.6
170.0
173.3
149.7
145.1
173.0
148.7
169.9
144.0
169.7
173.1
149.4
145.1
173.1
149.2
170.0
143.5
169.8
172.6
148.9
145.4
173.3
151. 0
170.3
143.4
169.8
172.5
148.6
145.4
174.7
151.3
171.2
140.8
170.0
172.4
150.1
151.8
175.8
152. 3
171.3
143.2
170.0
172.4
150.0
152.1
176.1
154.0
171.2
143.8
170.3
172.4
150.8
152.1
123.8
119.0
143.6
121.8
113.3
128.2
139.1
129.5
175.4
135.8
143.1
119.0
139.8
133.6
170.8
134.2
149.0
107.3
138.4
133.7
165.7
132.3
148.4
107.3
137.5
133.8
162.0
130.7
150.1
103.8
136.5
133.6
158.0
129.3
150.9
103.8
134.3
133.3
156.0
121.7
150.9
102.0
134.4
133.0
158.1
121.7
151.7
103.5
135.2
132.2
162.6
123.0
151.7
107.0
135 9
132. 5
164.3
124 6
151. 7
107.5
136.8
132.4
167.4
127.3
151.7
107.8
137.6
132.8
169.4
128.8
151.7
108.5
138.4
133.1
171.4
129.9
152.6
108.5
177.7
156. 3
172.6
146.9
171.3
172.9
151.8
151.9
143.2
134.8
188.3
134.3
153.3
115.6
178.0
156.3
173.1
144.3
173.1
173.7
151.9
151.7
Textile products and apparel 9 ._ - _ do
Apparel
_
__.do _ _ _
Cotton products
do
Synthetic products
do
Textile housefurnishings
do
Wool products.
do
177.1
155.8
172.3
145.2
170.9
173.0
151.5
152.2
141.3
133.6
182.8
132.3
153.3
114.9
Transportation equipment 9 ...Dec. 1968 =100- _
Motor vehicles and equip
1967 = 100
115.1
119.2
125.5
129.2
135.1
138.9
137.0
140.7
137.1
140.2
138.2
141.5
139.5
143.0
139.9
143.0
139.9
142.9
140.1
143.1
140.1
143.1
140.5
143.5
141.1
143.9
146.6
150.0
147.2
150.6
147.5
150. 9
-0.9
-0.2
-0.8
-0.5
1.5
0.4
-0.1
1.2
0.8
0.6
1.8
0
-0.4
190.7
178.8
195.3
177.3
192.7
178.0
202.2
178.6
201.9
180.4
209.8
180.3
209.7
182.9
206.2
183.0
205.8
183.7
Industrial commodities
do
do
do
do
Hides, skins, and leather products 9
Footwear _ _
__
Hides and skins
Leather
._
Lumber and wood products
Lumber.. _
__ .
258.0
371.2
197.6
245.6
274.7
144.0
135.1
192.3
134.2
153.3
116.4
Seasonally Adjusted t
All commodities, percent change from previous
month
By stage of processing:
Crude materials for further processing 1967 — 100
Intermediate materials supplies etc
do
Finished goods:
Consumer finished goods
do
Food
.
.do
Finished goods exc foods
do
Durable
do
Nondurable
do
Producer finished goods
do
By durability of product:
Total manufactures
Durable manufactures
Nondurable manufactures
_
1.4
do
. do
do
Farm products
do
Processed foods and feeds
do
PURCHASING POWER OF THE DOLLAR
As measured by—
Wholesale prices.
1967 =$1.00
Consumer prices .-do
$0. 744
.752
$0. 627
.678
204.5
179.3
198.3
179.5
188.9
179.8
181.3
179.3
179.9
177.9
160.2
180.5
147.6
133.9
156.8
154.4
158.9
176.6
148.6
134.9
157.8
155.3
159.5
175.6
149.5
135.2
158.5
157.2
158.6
174.1
149.7
135.8
159.0
158.1
157.7
170.6
150.0
136.9
158.9
159.7
159.7
175.1
150.3
136.9
159.3
160.7
161.3
178.2
150.8
136.9
160.1
161.2
162.4
179 9
151. 5
137. 3
161.0
161.7
164.7
184.4
152.4
137.4
162.5
162.4
164.8
183.3
153.9
137.7
164.6
162.8
166.7
186.3
155.4
139.0
166.1
164.0
169.3
189.4
157.3
141.5
167.5
166.7
169.8
188.7
158.1
141.9
168.7
167.7
168.7
186.3
158.6
141.8
169.9
168.0
167.0
160.4
173.8
167.7
161.3
174.1
168.7
162.5
174.7
168.0
163.2
172.3
167.5
163.4
171.2
168.9
163.7
173.8
169.0
164.4
174.3
169.8
164.8
174.1
170.5
164.7
176.5
171.8
165.2
178.6
172.5
166.2
179.5
175.2
168.5
182.3
175.3
169.6
181.0
175.6
170.4
180.8
194.0
193.8
186.1
188.2
177.9
185.3
170.2
180.3
168.1
175.7
179.3
181.9
184.6
180.3
181.7
178.1
193.7
183.9
190.7
184.5
198.9
186.3
203.2
187.7
198.0
186.5
196.4
181.0
$0. 582
.648
$0. 583
.643
$0. 582
.641
$0. 584
.636
$0. 587
.634
$0. 581
.631
$0. 577
.628
$0. 576
.623
$0. 569
.616
$0. 566 $0. 563
.614
.611
$0. 559
.608
$0. 561
.604
$0. 560
.601
cfSee corresponding note on p. 8-8.
9 Includes data for items not shown separately.
^Beginning June 1974 SURVEY, data are restated to reflect changes in pricing by BLS.
Because of delay in obtaining data the prices lag the current index as follows: industrial chemicals and electric power, one month (i.e., July index reflects June prices); gas fuels, except
212-633 O - 76 - S-2
LPG, two months (July index reflects May prices); refined petroleum products (gasoline,
distillates, residual), one month (July index reflects June prices) The restated indexes are
comparable with those for earlier periods.
{Beginning in the May l97,-> »URVE Y oatarefleet
new seasonal factors; revised indexes for 1970-74 appear on p. 40 ol the Aug. 1J/5 bURVEY.
January 1976
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes areas shown
In the 1973 edition of BUSINESS STATISTICS
1075
Annual
1975
1974
1974
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
12,700
12,226
11, 936
Dec.
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE J
New construction (unadjusted), total
mil. $-. 135, 953
Private total 9
Residential (including farm)
New housing units
do
do
do
Nonresidential buildings, except farm and public utilities, total 9
_
mil. $
Industrial
do
Commercial
do
Public utilities:
Telephone and telegraph
do
Public total 9
Buildings (excluding military) 9
Housing and redevelopment
Industrial
Military facilities
.
Highways and streets
103, 444
57, 635
47,853
27,584
6,243
15, 453
135, 481 11,433
10, 636
9,247
8,728
9,093
9,709
10,646
11,381
11,416
12,054
97, 079
47, 044
37, 312
8,185
3, 653
2,798
7,536
3,263
2,456
6,443
2,727
2,035
5,946
2,433
1,780
6,172
2,637
1,883
6,807
3,045
2,073
7,291
3,421
2,318
7,588
3,722
2,656
7,821
3,900
2,914
8,063 ' 8, 471 ' 8, 497 8,308
4,026 ' 4, 301 ' 4, 201 4,095
3,075 r 3, 139 ' 3, 197 3,203
29, 644
7,902
15, 945
2,650
773
1,390
2,511
779
1,270
2,206
634
1,128
2,110
612
1,069
2,024
606
994
2,134
624
1,040
2,182
685
1,046
2,150
671
1,022
2,164
668
1,034
2,259
659
1,119
3,967
4,279
360
348
281
283
326
313
305
321
306
331
do
32, 509
38, 402
3,248
3,100
2,804
2,782
2,921
2,902
3,355
3,793
3,595
3,991 r 4, 229
' 3, 729
3,628
do
do
do
do
do
12, 994
941
605
1,170
10, 506
14, 990
1,007
763
1,185
12, 083
1,215
85
65
95
973
1,297
87
81
99
795
1,232
91
74
97
681
1,213
84
76
98
681
1,289
97
85
108
696
1,207
72
74
102
830
1,273
81
87
102
1,075
1,363
92
82
102
1,199
1,297
87
68
111
1,272
1,431 ' 1, 382
-86
73
62
68
145
123
1,403 * 1, 530
1,241
81
62
'130
1,378
91
142
131.9
134.0
132.3
128.9
125.5
120.9
121.5
125.9
126.7
129.3
92.5
91.2
89.0
85.7
84.6
84.0
84.0
86.0
87.8
'92.5
'93.3
96.1
38.8
27.6
39.8
28.9
41.0
30.6
42.1
32.1
'46.0
33.2
'46.5
34.9
47.5
36.7
New construction (seasonally adjusted at annual
rates) total
bil $
Private total 9
93.8
do
Buildings (excluding military) 9
Housing and redevelopment
Industrial
Military facilities
Highways and streets
305
299
' 137. 1 ' 135. 1
139.2
42 5
32.1
41.1
30.5
39.6
28.8
38.5
27.4
38.0
26.9
37.9
26.8
30.5
8.9
16.0
30.4
9.0
15.4
30.0
8.4
15.6
29.6
8.7
15.0
26.3
79
13.0
25.9
7.5
12.8
25.6
8.2
12.1
24.8
25.0
25.8
26.2
'25.6
25.7
11.8
12.0
12.5
12 A
'12.6
12.5
4.1
4.0
4.5
4.2
3.7
4.0
3.6
3.4
3.8
3.3
3.6
3.6
do
38.2
41.5
41.1
39.8
39.8
36.3
37.4
41.9
40.6
41.5
••44.6
'41.8
43.1
do
do
do
do
do
14.7
.9
.8
1.1
11.1
15.6
.9
.9
1.2
12.0
16.1
1.2
.9
1.2
12.4
15.4
1.2
10
1.3
12.0
16.5
1.2
1.0
1.3
11.4
14 9
.9
.8
1.5
11.0
13.9
1.0
.9
1.2
12.2
15.8
1.0
.9
1.1
12.5
16.0
1.0
.9
1.3
12.5
16.1
.9
.9
1.4
13.2
'15.8
'1.0
'.8
1.7
'14.2
15.0
.9
.7
1.5
14.1
1.1
7,304
5,100
4,955
10,037
7,692
7,767
5,573
166
148
Residential (including farm)
do
New housing units
do
Nonresidential buildings, except farm and public utilities, total 9
bil. $._
Industrial
__do
Commercial
_
do
Public utilities:
Telephone and telegraph
do
Public, total 9
2,334 ' 2, 322 2,181
684
635
'675
1,072
1,136 '1, 145
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F. W. Dodge
Division, McGraw-Hill):
Valuation, total
mil. $
Index (mo. data seas, adj.)
Public ownership
Private ownership
By type of building:
NonresldentialU
Residential
.
.
.
Non-building construction^
New construction planning
(Engineering News-Record) O
9,598
9,143
9,324
9,044
'150
189
191
174
165
208
157
2,254
2,846
2,031
2,924
2,182
4,393
2,768
6,830
2,875
6,268
3,891
5,432
3,784
5,260
3,040
6,997
2,725
4,967
2,544
5,223
1,597
3,976
2,451
1,715
3,139
2,233
1,562
1,305
2,199
1,583
1,172
2,402
2,316
1,856
2,987
3,029
3,582
2,877
3,073
3,193
3,169
3,116
3,040
3,165
3,093
2,787
2,666
2,784
4,587
2,526
2,966
2,200
2,629
3,189
1,949
1,859
2,404
1,309
10,336
6,424
7,806
7,425
6,824
6,298
7,609
6,856
7,184
5,456
6,511
5,865
9,909
6,052
75.6
48.3
75.1
57.9
55.4
38.6
55.1
41.0
56.9
37.4
56.1
39.8
56.2
38.2
54.7
40.0
81.1
54.2
80.2
62.5
98.4
66.1
97.9
77.8
117.0
73.2
116.1
92.8
110.9
73.0
110.3
90.3
120.1
76.3
119.3
92.8
118.7
' 75. 1
117.3
90.7
112.5 ' 125. 0
74.0 '77.0
111.9 ' 123. 6
84.5 '93.8
'96.5
'64.5
'96.2
'71.7
78.7
56.7
77.8
56.3
1,017
802
880
682
999
739
1,000
733
985
775
980
762
1,130
887
1,094
884
1,235
935
1,269
987
1,269 'r 1, 452 rl,354
1, 103 ' 1, 028
931
1,309
972
1,058
782
94, 370
U80
U69
26, 563
72, 741
32, 497
61,873
2,391
3,788
2,496
4,809
do
do
do
31,534
45, 696
22, 074
33, 051
34, 404
26, 914
2,618
1,931
1,630
do
86,743
97, 102
2,057. 5
1,501.7
2, 045. 3
1, 132. 0
1,352.5
' 922. 5
1,337.7
888.1
mil. $
do
_
6,574
140
99, 304
1967=100..
6,179
154
176
' 136
HOUSING STARTS AND PERMITS?
New housing units started:
Unadjusted:
Total (private and public)
Inside SMSA's
Privately owned ._ _ .. ..
One-family structures
thous.
do
do
do
Seasonally adjusted at annual rates:
Total privately owned
One-family structures
do
do
New private housing units authorized by building
permits (14,000 permit-issuing places) :
Monthly data are seas. adj. at annual rates:
Total
. . thous
One-family structures
do
Manufacturers' shipments of mobile homes:
Unadjusted
Seasonally adjusted at annual rates
do
do
1,820
882
1,074
644
770
534
837
514
689
508
701
515
677
503
837
603
912
658
949
679
1,042
711
995
732
1,095
779
1,079
769
' 1, 085
'787
566.9
329.3
15.3
204
11.8
195
11.7
185
14.7
219
16.3
194
19.2
194
20.3
224
20.3
210
20.0
225
21.2
235
20.4
215
21.2
229
16.8
232
' 189. 3
' 187. 9
189.7 ' 189. 9
191.0
1,733
1,881
1,815
1,734
1,700
1,743
1,902
1,873
1,743
1,701
CONSTRUCTION COST INDEXES
Dept. of Commerce composite
1967«=100__
147.7
173.0
183.8
184.7
188.3
189.2
189.3 ' 187. 8 ' 189. 1 ' 190. 1
American Appraisal Co., The:
Average, 30 cities
Atlanta
New York
San Francisco
St. Louis
1913—100
do
do
do
do
1,515
1,749
1,590
1,469
1,434
1,608
1,821
1,711
1,552
1,536
1,640
1,800
1,746
1,614
1,574
1,639
1,797
1,743
1,609
1,571
1,647
1,832
1,775
1,612
1,576
1,655
1,848
1,780
1,617
1,579
1,633
1,855
1,785
1,633
1,591
Boeckh indexes:
Average, 20 cities:
Apartments, hotels, office buildings
Commercial and factory buildings
Residences
1967 = 100 . .
_do
do
168.4
177.4
154.0
178.3
154.4
182.4
171.1
182.8
159.2
172.0
177.9
178.0
r
Revised.
* Preliminary.
» Computed from cumulative valuation total.
I Data for new construction have been revised back to 1958; those for housing starts and,
permits, bark to 1959. The revised data are available from the Bureau of the Census, Washington, D.C. 20233.
HData for Aug. 1973 for nonresidential building and nonbuilding construction appearing in
1,673
1,861
1,793
1,657
1,601
1,700
1,872
1,800
1,693
1,674
1,710
1,869
1,798
1,690
1,677
1,763
1,905
1,872
1,736
1,700
1,762
1,902
1,871
1,734
1,699
182.6
186.0
184.5
185.8
190.1
187.8
184.3
180.6
182.4
the Oct. r1974 SURVEY were transposed; they
should have read (mil. $): Nonresidential.
building, 3,167; non-building construction, r 2,453.
O Data for Oct. 1974 and Jan., May, July, and Oct. 1975 are for 5 weeks; other months, 4 weeks.
9 Includes data for items not shown separately.
SURVEY OF CURRENT BUSINESS
January 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1974
1973
Annual
S-ll
Nov.
1975
Dec.
Jan.
Feb.
Mar.
May
Apr.
June
July
Aug.
Sept.
Oct.
Nov.
195.0
209.2
196.9
211.7
197.2
211.5
200.1
213.5
199.7
213.3
Dec.
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES— Con.
Engineering News-Record:
Building
Construction
1967 = 100
do
Federal Highway Adm.— Highway construction:
Composite (avg. for year or qtr.)
1967=100.__
168.4
176.5
178.3
188.0
152 4
201.8
194 1
177 5
148 8
155.9
127 2
144 9
135 7
143 9
134 0
151 7
147 2
152 5
161 1
157 4
166 5
152 6
168 5
156 6
168 4
174 2
175 3
159 8
193.1
194 6
235.4
181.8
171 6
215.3
170.1
130.9
183. 8
155.2
114 5
138 7
152 7
133 5
114 8
138 5
139 7
105 0
142 9
154 9
131 4
147 0
172 3
172 1
135.4
175 7
204 0
138.9
170 3
213 8
135.5
172 7
232 3
146.9
179 5
234 3
83 2
87 1
58
79
8.4
132
51
72
8.9
126
4 8
64
10.6
144
67
72
11.3
128
12 6
7 7
6 4
8 3
12.7
18.5
11.1
6 0
7 0
14.8
5 6
161.1
7 9
111
12.0
157
7 8
161.9
14.5
216
19Q
157
172
16.5
131
156
13.7
4 473 30 3 933 70 352 57
7, 467. 53 7,909.60 727. 35
374 25
557.83
557 54
544. 98
398 53
494 27
514 78
574 36
539 14
607 94
483 49
680 97
534 43
986. 02
597 49
674. 34
511 79
848. 30
516 06
814. 58
564 15
860. 56
17, 482
17, 578
183.4
195.0
183.8
195.3
183.8
195.8
187.2
198.1
209 9
187.3
198.1
187.8
198.8
190.5
201.4
207 3
193.4
205.3
1
1
200. 4
213. 8
203.9
199.3
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:
FHA net applications- ._
thous. units
Seasonally adjusted annual rates
. do
Requests for VA appraisals
do
Seasonally adjusted annual rates
do
Home mortgages Insured or guaranteed byFed. Hous. Adm.: Face amount
mil. $
Vet. Adm.: Faceamount§
do
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $._
New mortgage loans of all savings and loan associations, estimated total
.
mil. $
By purpose of loan:
Home construction
do
Home purchase
do
All other purposes
_,_do
Foreclosures
number
Fire losses (on bldgs., contents, etc.)
mil. $
86
14°
84
e'7
71
99
188
15, 147
21,804
21, 502
21,804
20, 728
19, 461
18, 164
17,527
17, 145
16, 803
16, 685
16, 945
49 412
38 959
1 961
2 212
2 004
2 277
3 1 in
4 173
5 370
5 971
5 498
5 731
10 215
29 566
9 631
7 566
23 560
7 833
391
1 1989
37
400
1 255
557
378
1 142
484
4QA
(\AA
7QQ
989
1 675
791
2 314
1 060
3 6? 6
1 346
1 055
3 118
1 325
980
1 285
562
1 012
3 089
1 269
3 500
1 951
135 803 140 469
11 185
12 749
12 815
11 545
12 636
12 833
12 291
12 476
3 190
262
298
307
287
341
335
312
265
275
285
276
276
146
175
154
109
142
14q
165
155
109
140
148
166
163
125
135
147
161
169
191
135
144
157
166
113
140
151
163
172
119
153
2,639
5 588 r K 694
995
r 1 052
r
3 351 3 400
1 242 r 1 242
13.8
189
886. 21
4 327
819
2 566
942
284
DOMESTIC TRADE
ADVERTISING
McCann-Erickson national
seasonally adjusted:
Combined index a*
Network TV..
..
Spot TV
Magazines
Newspapers
advertising Index,
..
1967-100
do
do
do
do
Magazine advertising (general and natl. farm magazines) :
Cost, total
mil $
Apparel and accessories
do
Automotive, Incl. accessories
.do
Building materials
do
Drugs and toiletries
do
Foods, soft drinks, confectionery
do
Beer, wine, liquors. _ .
do
Household equip., supplies, furnishings.. do_
Industrial materials
do
Soaps, cleansers, etc___
do
Smoking materials
do
All other
.
dO
130
135
139
116
131
141
150
153
121
141
146
154
164
133
130
148
159
160
147
155
1 9^
1 9Q
11C
152
135
152
136
141
157
159
117
134
1 316 0 1 366 3
52.9
50.3
120 4
104 5
26 7
24 7
140 6
142 3
96.2
92 3
157 0
5.1
12 3
1 9
14 5
12 5
117 6
3.4
6 8
1 4
12 1
88
95 7
3.0
56
13
12 1
8 4
119 0
5.0
10 1
18
11 3
7' 8
119 3
5.2
87
2 3
12 5
7 8
121 0
3.7
9 7
2 5
12 4
7 4
105 6
1.8
9 8
2 1
13 1
6 4
83 9
2.2
7 2
14
10 8
6 7
82 6
2.9
53
9
12 0
51
118 7
6.6
6.1
2.1
11.4
6.2
136.1
5.5
11.3
2.0
12.2
9.4
152 0
5.1
14.0
1.9
12.8
12.8
120.4
3.3
9.4
1.4
10.9
9.6
14 5
10.2
39
9 o
12 7
67 3
16 7
4.9
31
1 2
12 6
4 8
2.4
2 4
15
10 8
43 5
78
4.5
2 9
2 1
12 6
53 1
7 6
6.2
2 9
15
11 9
62 7
8 4
6.8
35
12
12 1
53 2
9 0
4.3
2 9
1 i
5 7
3.1
2 3
1 2
11 5
31 1
4 2
2.7
2 6
12
12 3
33 3
7.3
5.5
3.1
2.2
13.2
55 1
10.4
6.3
3.1
2 4
12.1
61 9
13.5
7.2
2.9
2.5
12.3
66 8
17.7
3.3
2.9
1 2
12. 9
48 0
0
0
6
0
3
1
294 8
62
80 5
10 8
32 8
164 6
329 8
59
91 2
6 3
33 4
193 1
379 8
9 9
85 7
13 5
53 1
217 6
403.4
9.0
83 7
10.2
54.6
245.9
87 0
86.4
28 4
18 6
110 5
102 9
79.5
35 4
17 6
136 3
580 4
548 3
Newspaper advertising expenditures (64 cities): 0
Total
mil. $
3 786 1 3
Automotive
do
99 8
Classified
_
do
1 024 2
Financial
do
138 9
General
do
479 2
Retail
do "" 2 044 1 2
4ft ft
2.6
4 3
9 1
4 4
4 6
2.8
o 6
9
7
146
156
164
142
157
158
359
8
86
10
50
197
g
1
4
8
3
3
19 g
42 4
36 8
206 1
303 5
7 6
76 0
14 5
39 6
165 7
302
8
75
8
44
166
37 207
15 382
21 825
35 721
15 021
20 700
33 831
14 168
19 663
35 936
15 041
20 895
9
36 13
15 898
°0 304
36 407
15 731
20 676
36 3^8
15 733
20 655
36 916
15 721
21 195
36 614
15 315
21 299
37 855 rr 39 569
16*340 16 704
21 515 r 22 865
35, 812
14, 751
21,061
46,695 46,582
27 529 28 006
19.166 18 57fi
•• Revised
p Preliminary.
1 Index as of Jan. 1, 1976: Building, 201.5; construction,
2146
^Beginning Jan. 1973 data reflect new reference base, 1967=100.
9 Includes
data for items not shown separately.
§Data include guaranteed direct loans sold.
If Home mortgage rates (conventional 1st mortgages) are under money and interest rates
on p. o—18.
46,119
28 002
18.117
45,939
28 210
17 72Q
45,581
9
8 315
17 966
44,576
27 958
16 618
44,513
27 894
16.619
44,513
27 710
16.803
44, 678
27 365
17.313
44,764
27 136
17.628
r
r
45, 803
27, 283
18, 520
767 2
104 2
966 7
126 0
491 5
078 8
330
9
70
9
46
194
8
9
3
4
8
5
315 9
4 8
57 1
37 457
16 112
21 345
11 1
3
4
6
1
0
2
337
7
79
12
47
190
3
3
7
5
6
2
354
9
84
9
50
3
4
6
4
7
9QQ 2
361
9
88
12
49
202
334
8
83
12
45
184
0
6
1
0
6
8
WHOLESALE TRADEf
Merchant wholesalers sales (unadj ) total mil $
Durable goods establishments
" do
Nondurable goods establishments
do
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total, mil. $ '
Durable goods establishments, _
do
Nondurable goods establishments.
do
364 803 448 127
168 074 202 341
196 729 245 786
38,558
21 648
16. 910
46, 695
27 529
19. 166
46, 452
27 044
1 9. 408
45,612
27,228
18.384
©Source: Media Records, Inc. 64-City Newspaper Advertising Trend Chart.
tSeries revised back to Jan. 1964 to reflect kind of business classifications of establishments
selected for a new sample in terms of the 1967 Census of Business; revisions for earlier periods
appear on p. 44 ff. of the December 1974 issue of the SURVEY.
SUEVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1973
1974
1974
Annual
Nov.
January 1976
1975
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
DOMESTIC TRADE—Continued
RETAIL TRADE
All retail stores:
Estimated sales (unadj ), total
503, 317
537, 782
46,351
52, 253
41,315
39,802
44,937
45,896
51, 204
49, 052
50,026
50,663
48,275 ' 52,046 7- 50,580 i 61,002
do .__ 170, 275
100, 661
do
do
92, 768
do
7,895
167, 313
93, 089
84, 773
8,316
13,085
6,965
6,241
724
13, 353
6,239
5,508
731
12,051
6,732
6,148
584
12,279
7,258
6,693
565
13,270
7,641
6,954
687
14,588
8,422
7,663
759
15, 987
9,180
8,347
833
16, 126
9,342
8,499
843
16,374
9,611
8,783
828
15,575
8,812
8,023
789
Furniture, home furn., and equip. 9 ..do ..
Furniture, homefurnishings stores
do
Household appliance, TV, radio
do
24, 030
14, 290
7,904
25, 544
15, 364
8,006
2,159
1,314
643
2,533
1,368
855
1,931
1,149
610
1,793
1,079
554
1,971
1,176
605
2,010
1,207
620
2,124
1,260
679
2,144
1,269
697
2,167
1,283
7C8
2,177
1,281
707
15,453 r 16,919 7- 15,274 i 16,734
8,539 7- 9, 734 7- 8, 392 i 8, 260
7,785 r 8, 936
7,604
798
754
788
2,184 r 2, 308 7- 2, 399 i 2, 992
1,247 7- 1, 379
1, 423
7-721
730
757
Building materials and hardware 71
do
Lumber, bldg. materials dealersd
do
Hardware stores
___.
__do _
22, 766
18, 049
4,717
23, 491
18, 328
5,163
1,897
1,453
444
1,760
1,241
519
1,498
1,152
346
1,439
1,092
347
1,631
1,237
394
1,879
1,418
461
2,199
1,628
571
2,212
1,668
544
2,244
1,721
523
2,189
1,701
488
333, 042
24,062
5,609
9,119
4,229
370, 469
24, 864
5,668
9,551
3,979
33,266
2,191
506
853
325
38, 900
3,358
832
1,285
411
29,264
1,770
428
687
272
27,523
1,606
375
626
247
31,667
2,077
454
795
349
31,308
1,949
436
749
311
35, 217
2,232
516
869
354
32, 926
2,072
502
797
323
33,652
1,970
440
783
303
35,088
2,279
475
899
374
r
32,822 35,127 r 35,306 i 44,268
2,191 ' 2, 300 r 2, 398 i 3, 739
7-491
450
546
"•942
872
935
r362
382
369
15, 474
37, 925
105, 731
98, 392
34, 432
16, 785
41, 840
119, 763
111,347
39, 910
1,378
3,592
10,705
10,013
3,400
1,914
3,621
10, 678
9,898
3,406
1,379
3,443
10,568
9,895
3,278
1,332
3,288
9,678
9,032
3,053
1,430
3,668
10,706
9,967
3,424
1,407
3,773
10,178
9, 452
3,468
1,529
4,183
11, 687
10, 893
3,715
1,494
4,207
10, 789
10, 009
3,750
1,473
4,228
11,433
10,647
4,067
1,515
4,373
11,754
10,971
4,100
1,450 r 1, 505 7- 1, 473
3,983 r 4, 208 r 4, 057
10,712 r 11,432 7- 11,086
9,962 r 10,648 7- 10,333
3,757 T- 3, 817 7- 3, 630
83, 301
89, 286
8,751
12, 036
5,588
5,524
7,039
7,059
8,047
7,502
7,288
7,983
7,709 7- 8, 226 7- 9, 391 i 14,453
76, 938
52, 292
5,384
8,212
9,602
82, 535
55, 871
5,839
8,714
10, 285
8,089
5,427
705
817
923
11,416
7,991
602
1,285
1,207
5,108
3,418
346
524
801
5,036
3,334
385
542
745
6,489
4,367
458
706
837
6,503
4,449
458
660
806
7,488
5,170
435
798
945
6,973
4,827
407
713
909
6,759
4,611
443
665
968
7,427
5,066
496
789
953
7,099
4,904
520
700
876
44, 529
45, 109
46, 006
46, 914
45, 951
46, 813
48, 173
48, 578
49,655
49,925
13, 035
6,979
6,314
665
13, 554
7,646
6,956
690
14, 126
7,747
7,022
725
14, 664
8,420
7,675
745
13, 378
7,361
6,623
738
14, 165
7,901
7,164
737
14, 703
8,263
7,508
755
14, 965
8,447
7,654
793
15,432
8,850
8,082
768
15,506
8,871
8,120
751
49,549 r 50,165 7- 50,350 i 52,098
r
15,440 15,775 7- 15,787 i 116,721
9, 718
8,699 r 9, 025 7- 8, 728
7,936 r 8, 274 7,962
751
763
766
mil. $
Durable goods stores 9
Automotive dealers Passenger car, other auto, dealers
Tire, battery, accessory dealers
Nondurable goods stores 9
do
Apparel and accessory stores
do
Men's and boys' wear stores.
do
Women's apparel, accessory stores do
Shoe stores
_.do
Drug and proprietary stores.
Eating and drinking places
Food stores -.
Grocery stores
^
Gasoline service stations
. _ do__
do
do
do
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 sales (seas, adj.), total A
do
Durable goods stores 9 A
do
Automotive dealers A
--- _ do _ - Passenger car, other auto, dealers A. -do
Tire, battery, accessory dealers
do
2,203
1,709
494
T- 2, 317
r 1, 802
'515
r 7, 531
r 5, 104
635
'737
••930
2,119
1,602
517
i 2, 094
i 4, 114
i 11,969
i111,077
3, 678
7- 8, 736 1 13,796
7- 6, 007 i 9, 843
687
826
950
1
Furniture, home furn. , and equip .9
Furniture homefurnishings stores
Household appliance, TV radio
do
do
do
2,067
1,240
629
2,004
1,193
617
2,040
1,237
625
2,051
1,235
633
2,046
1,199
660
2,132
1,244
686
2,139
1,216
716
2,168
1, 245
723
2,171
1,280
688
2,202
1,277
711
2,214 >• 2, 241 7- 2, 359
1,280 7- 1,318
1,392
r720
735
757
Building materials and hardware
Lumber, bldg materials dealers cf
Hardware stores
do
do
do
1,892
1,465
427
1,843
1,412
431
1,895
1,424
471
1,892
1,415
477
1,819
1,355
464
1,883
1,415
468
2,006
1,517
489
1,999
1,515
484
1,993
1,515
478
1,977
1,505
472
2,064 r 2, 089
1,574 r 1, 599
490
490
Nondurable good? stores 9
Apparel and accessory stores
Men's and boys' wear stores
Women's apparel accessory stores
Shoe stores
do
do
do
do
do
31,494
1,982
450
766
307
31, 555
2,032
444
800
303
31, 880
2,118
473
844
323
32, 250
2,189
518
828
344
32,573
2,099
506
820
310
32,648
2,179
506
819
337
33, 470
2,216
506
854
356
33, 613
2,223
517
863
346
34,223
2,236
511
876
344
34,419
2,336
523
948
353
1
34,109 r 34,390 7- 34,563 35,377
2,251 r 2, 243 7- 2, 261 i 2, 266
7-491
501
501
7-894
879
880
7-349
363
353
do
do
do
do
_ do
1,402
3,715
10,455
9,740
3,397
1,461
3,721
10, 330
9,610
3,399
1,436
3,784
10,672
9,945
3,465
1,449
3,828
10, 643
9,925
3,465
1,488
3,821
10,805
10,058
3,497
1,455
3,898
10,598
9,846
3,532
1,499
3,935
10, 875
10, 105
3,565
1,532
3, 984
11,023
10, 255
3,616
1,525
3,933
11,282
10,531
3,790
1,526
3,901
11,167
10,429
3,832
1,525
3,940
10,969
10,217
3,803
7,409
7,371
7,261
7,533
7,599
7,638
7,981
7,994
7,903
8,091
8,102 *• 7, 958
7,058
4,852
456
739
903
7,068
4,825
476
746
884
7,429
5,094
482
788
919
7,421
5,081
496
774
941
7,321
5,017
510
728
927
7,523
5,201
509
799
929
7,505
5,162
534
773
936
Drug and proprietary stores
Eating and drinking places
Food stores
Grocery stores
Gasoline service stations
.
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: t
Book value (unadjusted), total t
mil. $__
Durable goods stores 9
do
Automotive dealers
do
Furniture, home furn., and equip
do
Building materials and hardware
do
6,865
4,627
499
732
884
6,758
4,608
415
684
886
6,704
4,497
485
720
871
7,000
4,743
489
746
882
2,239
1,719
520
7-1,519 7- 1, 565
7- 4, 078 7- 4, 191
7- 11,264 r 11,299
7- 10,501 r 10,501
7- 3, 738 7- 3, 670
7- 8, 259
1
1
72, 056
33, 747
17, 255
5,186
4,425
76,738
33, 714
16, 931
5,417
4,433
72,056
33, 747
17, 255
5,186
4,425
71, 028
33, 717
17, 226
4,964
4,477
71,346
33, 196
16,371
4,845
4,590
72,475
33, 499
16, 720
4,732
4,675
72,847
33, 852
17, 033
4,686
4,731
72,050
33, 604
16, 814
4,658
4,769
71,669
33, 419
16, 562
4,662
4,755
71,268
32, 725
16, 096
4,640
4,642
70, 295
31, 243
14, 738
4,658
4,673
72,327
31, 984
15, 321
4,725
4,650
75, 854
32, 629
15, 678
4,877
4,677
76, 620
33, 208
16, 056
4,911
4,680
Nondurable goods stores 9
do
34, 567
Apparel and accessory stores
do
5,151
Food stores .
do
6,968
General merchandise group with nonstores
mil. $. . 14, 434
Department stores
do
8,422
38, 309
5,280
8,130
43, 024
6,054
8,159
38, 309
5,280
8,130
37,311
5,098
7,797
38, 150
5,326
7,840
38, 976
5,512
7,900
38, 995
5,515
7,883
38, 446
5,488
7,865
38, 250
5,353
7,865
38, 543
5,377
7,889
39, 052
5,508
7,896
40,343
5,820
8,074
43, 225
6,127
8,346
43, 412
6, 099
8,434
15, 540
9,246
19,403
11, 934
15, 540
9,246
14, 997
8,788
15, 313
8,920
16, 056
9,505
16, 169
9,631
15, 870
9,540
15, 765
9,373
15, 954
9,478
16,310
9,772
16,978
10,267
18, 895
11, 574
18, 732
11, 662
65, 229
29, 593
14, 813
4,684
4,296
74, 082
34, 649
17, 794
5,238
4,581
73,964
34, 251
17, 720
5,204
4,570
74,082
34,649
17, 794
5,238
4,581
73,327
34, 267
17, 414
5,102
4,564
72,308
32, 956
15, 900
4,974
4,572
71,728
32, 460
15, 723
4,780
4,570
71,483
32, 375
15,817
4,667
4,562
70,826
32, 086
15, 605
4,630
4,590
70,840
31, 909
15, 294
4,657
4,635
71,503
32, 270
15, 540
4,677
4,624
72,578
33, 324
16, 729
4,686
4,706
73,049
33, 471
16, 671
4,701
4,745
74, 642
33, 813
17, 004
4,749
4,787
73, 839
33, 712
16, 795
4,718
4,830
35,636
5,382
6,865
39, 433
5,517
8,010
39, 713
5,494
7,815
39, 433
5,517
8,010
39, 060
5,523
7,916
39, 352
5,554
7,984
39, 268
5,540
7,916
39, 108
5,537
7,883
38, 740
5,583
7,881
38, 931
5,547
7,873
39, 233
5,538
7,977
39, 254
5,432
8,024
39,578
5,517
8,189
40, 829
5,668
8,190
40, 127
5, 534
8, 079
15, 439
16, 621
9 RfiR
17, 367
in 4Qfi
16, 621
16,211
Q.M4
16, 133
do
do
do
do
do
Nondurable goods stores 9
do
Apparel and accessory stores
do
Food stores .
do
General merchandise group with nonstores
.
.
mil. $
Department stores _
do
R PRR
9 RfiR
' Revised.
» Advance estimate.
9 Includes data not shown separately.
c? Comprises lumber yards, building materials dealers, and paint, plumbing, and electrical stores.
5 Except department stores mail order.
I Series revised beginning Jan. 1971 to reflect
i 1, 563
i 4, 224
11,431
i 10,610
!3,719
1
7- 7, 359 7- 7, 687
7- 5, 029 7- 5, 325
522
488
7-751
762
7-929
942
63, 661
29, 094
14, 635
4,637
4,150
Book value (seas, adj.), total J
Durable goods stores 9
Automotive dealers
Furniture, home furn. and equip
Building materials and hardware
2, 401
8, 748
8, 157
i 5, 657
16, 156 16, 289 16,392 17, 345 16, 767
9. R41
9. 9SR 10. 541 10. 257
« Q- fiQfi
benchmark data from the 1972, 1973, and 1974 Annual Retail Trade Reports and new seas,
factors; revisions for Jan. 1971-July 1974 appear on p. 26 ff. of the Nov. 1975cSURVEY.
A Revisions for Jan.-July 1974 appear on p. 26ff. of the Nov. 1975 SURVEY.
Corrected.
Q 47fi
16, 294
Q fi17
16, 251
Q fisn
15, 997
Q KQS
16, 055
Q 5Q7
January 1976
S-13
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973 v
Annual
1975
1974
1974"
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
Firms with 11 or more stores:
Estimated sales (unadj.), total?
rnil. $
Apparel and accessory stores 9
Women's apparel accessory stores
Shoe stores
Drug and proprietarv stores
do
do
do
do
General merchandise group with nonstores 9
mil $
General merchandise proup without nonstores §
mil $
Dept. stores, excl. mail order sales
do
Variety stores
do
r
154 546
169 434
15 745
19 080
12 693
12 047
14 342
13 917
15 860
14 687
14,729
15,710
14,744
15,870
16, 595
6 569
2 393
1 908
5,857
6 428
2 390
1 737
6,451
563
209
143
529
887
339
197
810
415
155
117
489
380
143
107
484
563
209
162
548
502
185
138
531
573
221
150
590
534
201
140
592
468
188
115
570
606
239
166
604
580
223
165
571
'582
'224
'155
'594
628
237
158
592
65 569
70 597
6 956
9 633
4 308
4 298
5,559
5, 574
6 372
5 948
5 745
6,349
6 119
' 6, 522
7,487
62, 471
46, 380
6,627
67, 289
49, 802
6 988
6 627
4,831
9 362
7,086
1 025
4,098
3,051
406
4,055
2,976
427
5,278
3,900
564
5,305
3,983
532
6,094
4,607
646
5,688
4,321
576
5,505
4,140
528
6,092
4,543
636
5,827 ' 6, 175
4,373 ' 4, 547
'596
566
7,162
5,337
55, 165
2,210
62 614
2 168
5 587
5 646
5,116
5,268
198
6 079
5,812
5,454
180
' 5, 977
'200
5,785
185
15,530 ' 15,374
15,803
666
680
Grocery stores
Tire, battery, accessory dealers
do
do
151
145
5,702
175
210
5,457
215
195
6,023
195
Estimated sales (seas, adj.), total 9
do
14 305
14 166
14 390
14, 661
14,882
14, 624
15 149
15 325
15,388
15,625
do
do
do
do
493
182
129
538
536
200
143
548
548
217
149
535
567
210
154
561
540
203
141
586
545
203
152
558
574
216
153
574
575
214
152
607
555
224
137
594
614
244
159
607
580
226
145
608
'560
'215
'153
'601
579
220
154
628
5 909
5 712
5,722
5,941
6,038
6,012
6,325
6,352
6,225
6,474
6,452
'6,316
6,553
5 638
4 161
5 440
4 096
5 459
4 030
5,768
4,333
595
5,730
4,297
598
6 055
4,539
581
5,670
4,221
597
640
6,075
4,534
625
5,952
4,476
580
6,208
4,636
652
6 165 ' 6, 040
4,603 '4,493
'605
625
6,274
4,748
615
5 449
5 440
5,574
190
5,555
197
5,668
189
5,510
167
186
5,577
194
5,708
197
5,889
178
5,775
184
5,784 ' 5, 764
'183
189
5,879
186
Apparel and accessory stores 9
Women's apparel, accessory stores
Shoe stores
Drug and proprietary stores
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
Tire, battery accessory dealers
179
589
do
do
All retail stores, accts. receivable, end of yr. or mo.:
Total (unadjusted)
mil $
Durable goods stores
do
Nondurable goods stores
do
5 760
169
183
533
27, 031
8,513
18,518
28 916
8 578
20 338
27 267
8 616
18 951
28 916
8 578
20338
27, 666
8,331
19 335
26, 932
8,163
18, 769
26,694
8,114
18,580
26,961
8,306
18 655
27, 663
8, 652
19,011
27 341
8,781
18 560
26, 988
8,795
18, 193
27,089
8,830
18,259
r
do
do
10, 445
16, 586
10,806
18 110
10 760
16 807
10806
18 110
10, 326
17, 340
10, 120
16, 812
10,214
16,480
10,550
16 411
11,221
16, 442
11 049
16 292
10,813
16, 175
10,709
16,380
r
r
Total (seasonally adjusted)
Durable goods stores
Nondurable goods stores
do
do
do
25, 368
8,344
17 024
27 035
8 434
18 601
27 340
8 542
18 798
27 035
8 434
18 601
27, 208
8,574
18 634
27, 246
8,518
18, 728
27,129
8,418
18,711
27 303
8,515
18 788
27, 606
8,610
18 996
27 402
8,593
18 809
Charge accounts. . __
Installment accounts
do
do
9,991
15 377
10 374
16 661
10596
16 744
10374
16 661
10, 590
16 61S
10, 562
16 684
10,510
16 619
10659
16 644
10, 902
16 704
10, 786
16 616
Charge accounts
Installment accounts
27,376
8, 979
18,397
27, 713
9,094
18,619
10,940
16,436
11,224
16, 489
27, 609
8,719
18, 890
27,525 r 27,612
8,632 '8,726
18 893 T 18 886
27, 768
8,846
18 922
10, 938
16 671
10,794
16 731
r
r
10,910
16 702
11,043
16,725
r
T
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, Incl. armed forces overseas!
mil
* 210.41
1
211.89
212. 52
212. 65
212. 80
212. 91
213. 02
213 14
213 26
213 47
213. 63
213. 81
213. 98
214. 14
214. 28
214. 40
93, 240
91 Oil
85 936
3 492
82, 443
5,076
93, 822
91 609
85 924
3 294
82, 700
5 685
93, 538
91 397
85 220
2 959
82, 261
6 106
93,342
91, 149
89 969
2 888
80, 082
8,180
93, 111
90 913
82 604
2 890
79, 714
8 309
93, 593
91 395
83 036
2 988
80, 048
8 359
93, 564
91 369
83 549
3 171
80, 377
7,820
93, 949
91 768
84 146
3 622
80, 524
7 623
96, 191
94 013
85 444
3 869
81, 575
8 569
97, 046
94 859
86 650
4 090
82, 560
8,209
96, 493
94, 308
86 612
3,886
82, 726
7,696
94, 965
92, 795
85 274
3 626
81,647
7,522
95, 431
93, 267
86, 023
3,524
82, 499
7,244
94, 943
92, 787
85 556
3 156
82, 400
7,231
94, 888
92,731
85, 536
2,856
82, 680
7,195
91 708
85 689
3 375
82, 314
91 803
85 202
3 339
81, 863
92, 091
84, 562
3,383
81,179
91,511
84 027
3 326
80, 701
91,829
83 849
3 265
80, 584
92, 262
84, 086
3,238
80, 848
92, 940
84, 402
3,512
80, 890
92, 340
84, 444
3,304
81, 140
92,916
85, 078
3,450
81,628
93, 146
85, 352
3,468
81,884
93, 191
85, 418
3,546
81, 872
93, 443
85, 441
3,422
82, 019
92, 979
85, 278
3, 292
81, 986
93, 279
85,511
3,241
82, 270
6 019
1,117
6 601
1,319
7,529
1,537
7,484
1,822
7,980
1.991
8,176
2,403
8,538
2,643
7,896
2,887
7,838
2,998
7,794
2,842
7,773
2,856
8,002
2,578
7,701
2,824
7,768
2,919
6 6
4.6
6.6
17.4
7 2
8.2
6.0
8.1
82
87
8.9
7.0
8.6
9.2
7.3
8.6
8.6
7.0
8.1
8.4
7.0
7.9
8.4
6.6
7.7
19.9
20.6
8.3
7.0
7.5
19.3
8.6
7.1
7.8
19.9
8.3
6.9
7.8
18.6
8.3
6.5
8.0
19.9
14.0
7.6
7.6
14.3
5.3
7.9
14.2
5.2
7.6
13.8
4.9
7.5
13.7
4.7
4.6
4.7
11.5
4.8
11.2
4.7
11.0
4.8
10.3
1
LABOR FORCE cf
Not Seasonally Adjusted
Labor force, persons 16 years of age and over__thous_.
Civilian labor force
do
Employed, total
do
Agriculture ._
do
Non agricultural industries
do
Unemployed
do
Seasonally Adjusted d"
Civilian labor force
do
Employed, total
...
do
Agriculture
.
do
Nonagricultural industries
do
Unemployed
do
Long-term, 15 weeks and over
do
Rates (unemployed in each group as percent
of total in the group):
All civilian workers
Men, 20 years and over
Women, 20 years and over
Both sexes, 16-19 years ..
White
Negro and other races
Married men, wife present
Occupation: White-collar workers. ..
Blue-collar workers
Industry of last job (nonagricultural):
Private wage and salary workers
Construction
Manufacturing
Durable goods
91, 040
88 714
84 409
3 452
80, 957
4 304
812
4 9
3.2
4.8
14.5
937
56
3.8
5.5
16.0
5.3
7.2
18.1
7.5
4.3
8.9
2.3
5.0
9.9
2.7
5.9
11 6
33
12 5
38
13.4
2.9
5.3
3.3
6.7
3.8
4.1
8 3
9 3
4.8
8.8
4.3
3.9
10.6
5.7
5.7
5.4
6.4
6.8
7.7
13 5
7 4
14 9
8 9
7.0
8.7
Revised.
P Preliminary.
1 As of July 1.
9 Includes data not shown separately.
§ Except department stores mail order.
t Revisions back to 1970 appear in P-25, No. 545, "Population Estimates and Projections"
(May 1875), Bureau of the Census.
r
20.8
6.2
8.1
6.8
8.5
20.4
21.8
19.2
8.5
7.9
8.0
8.1
13.5
14.2
14.6
14.7
13.7
4.7
5.2
5.6
5.8
5.7
4.6
4.5
4.6
4.7
5.4
4.8
11.0
10.9
12.5
13.0
13.0
12.6
4.5
8.7
15.0
10.5
10.5
7.4
19.1
7.9
13.0
5.4
4.8
12.1
21.1
5.0
11.5
8.8
8.9
9.1
9.1
9.6
9.1
9.8
10.1
9.2
9.3
8.8
16.2
17.3
19.3
19.2
17.9
19.9
21.8
21.0
20.8
18.1
15.9
9.4
9.9
12.2
10.2
10.6
10.5
12.3
12.0
11.1
11.4
11.0
9.7
10.2
10.5
12.8
11.3
12.9
11.3
11.3
12.7
11.5
10.9
d" Beginning in the Feb. 1975 SURVEY, data reflect new seasonal factors; comparable
monthly data back to 1968 appear in EMPLOYMENT AND EARNINGS (Feb. 1975), USDL,
BLS.
SUEVEY OF CUERENT BUSINESS
S-14
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1973
1975
1974
1974
Nov.
Annual
January 1976
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.*
Dec. '
78,193
63,132
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT J
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seasonal variation. ..thous..
Private sector (excl. government)
do
76, 896
63, 157
78, 413
64 235
79, 151
64 549
78, 462
63, 824
76, 207
61, 669
75, 772
60 943
75, 778
60 884
76, 177
61 269
76, 689
61, 750
77, 183
62, 387
76, 439
62 220
76,900
62,788
77,614
63 054
78,324
63,152
78, 529
63, 306
76, 896
63, 157
43, 089
24, 727
644
4,015
78, 413
64, 235
44, 189
24, 697
694
3,957
78, 374
63, 975
44, 337
24, 186
722
3,826
77, 723
63, 302
44, 112
23, 646
686
3,770
77, 319
62, 852
44, 054
23, 270
723
3,749
76, 804
62, 210
43 835
22, 691
724
3,592
76, 468
61, 850
43 624
22, 422
729
3,467
76, 462
61,770
43, 615
22, 328
732
3,441
76, 510
61, 784
43, 622
22, 339
738
3, 439
76, 343
61, 652
43, 552
22, 233
741
3,392
76, 679
61,863
43, 779
22 222
743
3,395
77,023
62,168
43,914
22,418
749
3,415
77,310 77,555 77,558
62,465 62,591 62,599
44,048 44,098 44,128
22,601 22,669 22,641
774
7- 767
752
3,432 7- 3, 402 r3,403
77, 798
62, 799
44, 248
22,712
772
3,389
20, 068
11,839
183
643
536
691
1,324
1, 500
2,092
2,020
1,904
497
451
20, 046
11, 895
177
626
517
690
1,344
1,505
2,218
2,030
1,821
520
448
19, 638
11,656
177
579
486
667
1,339
1,467
2,244
1,951
1,802
515
429
19, 190
11,357
176
569
474
655
1,308
1,425
2,214
1,888
1,722
511
415
18, 798
11,099
177
551
454
635
1,284
1,374
2,183
1, 850
1,674
506
411
18 375
10, 813
177
537
441
620
1,248
1,357
2, 153
1,785
1, 594
497
404
18 226
10, 728
177
539
434
610
1,218
1,336
2,128
1,773
1,624
490
399
18, 155
10, 637
176
536
436
608
1,189
1,332
2,098
1,746
1,631
488
397
18, 162
10, 595
177
546
439
609
1,168
1,324
2,064
1, 735
1,653
481
399
18, 100
10, 527
173
552
437
605
1,149
1,317
2,035
1,723
1,657
481
398
18, 084
10, 465
172
557
441
604
1,134
1,298
2,017
1,712
1,645
482
403
18 254
10,563
167
563
452
610
1,148
1,331
2,013
1,747
1,645
481
406
18 417 18,493
10 650 10, 661
164
165
'•576
568
••467
464
615
615
1,149
1, 169
r
1,
344
1,340
2,035 7- 2 039
rl,767
1,755
1,643 r 1, 641
7-490
486
r409
410
7- 18,471
10,643
7- 160
7- 576
7-470
7-615
T- 1, 145
7- 1, 335
7- 2, 030
7- 1, 764
7- 1, 647
7-492
7-409
18, 551
10, 697
160
578
476
612
1,155
1,339
2,026
1,776
1,666
495
414
7 982
1 693
77
939
1,298
685
1,107
1 059
200
654
270
7 833
1 684
78
908
1,246
674
1,104
1 045
198
632
264
7 699
1 668
80
870
1,218
663
1,101
1 034
194
614
257
7 562
1 662
79
849
1,188
647
1,094
1 024
191
579
249
7 498
1 659
77
845
1,180
636
1,089
1 009
194
564
245
7 518
1 664
75
865
1,191
629
1,084
1 003
193
568
246
7 567
1 670
75
885
1,205
631
1,079
1,004
195
574
249
7 573
1,671
75
891
1,215
627
1,073
1,000
197
572
252
7 619
1 668
79
897
1,245
633
1,068
999
199
575
256
7,691
1,688
78
918
1,245
639
1,072
1,008
199
588
256
7,767 r 7, 832 7- 7, 828
1, 693 r 1, 695 7- 1, 692
79
81
80
r953
7-951
938
1,261 r 1, 287 7- 1, 288
7-652
7-652
648
1,075 7-1,071 7- 1, 069
1,011 r 1,019 7- 1, 020
7-202
201
200
7-604
608
599
269
267
262
7,854
1,686
82
956
1,296
661
1,072
1,020
202
607
272
U 4cq
54, 188
4,683
17, 058
4,237
12, 821
4,226
13, 822
14, 399
2,742
11 657
54, 077
4,659
16, 935
4,224
12,711
4, 229
13, 833
14, 421
2,738
11 683
54, 049
4,603
16, 903
4,205
12, 698
4,219
13, 857
14, 467
2,734
11 733
54, 113
4,565
16, 879
4,189
12, 690
4,210
13, 865
14, 594
2,733
54, 046
4,506
16, 851
4,178
12, 673
4,207
13, 864
14,618
2,733
11 885
54, 134
4,508
16, 847
4,176
12, 671
4,209
13, 878
14, 692
2,731
11 961
54, 171
4,491
16, 857
4,175
12, 682
4,208
13, 889
14, 726
2,732
11 994
54, 110
4, 469
16, 877
4,153
12, 724
4,202
13, 871
14, 691
2,738
11 953
54, 457
4,464
16, 984
4,161
12, 823
4,203
13, 990
14,816
2,745
12 071
54,605
4.466
17,016
4, 159
12,857
4,218
14, 050
14,855
2,756
12 099
54,709
4,467
17,045
4,181
12,864
4, 239
14,113
14,845
2, 765
12,080
' 54,886 7- 54,917
7- 4, 476 7- 4, 501
7- 17,043 7- 17,020
* 4, 172
r 4, 180
7- 12,863 r 12,848
r 4, 246 7- 4, 248
r
14,157 7- 14,189
r
14,964 7- 14,959
2,767 7- 2, 761
r
12,197 7- 12,198
55, 086
4,481
17, 096
4,197
12, 899
4,259
14, 251
14, 999
2,758
12, 241
53, 029
C-I O
53, OCQ
249
52, 574
50, 509
H
1 9 7^7
49, 765
50, 138
12 731
50, 601
12 8C7
51,207
12 981
51, 129
12 744
51,685
13 180
51,956 7-r 52,020 7- 52,032
13,428 13,420 7- 13,366
52, 198
13,311
51,624 51, 005 50, 663
17 034 16 487 16 230
553
552
' 550
2 769
3 045
2 886
13 437 13 051 12 K915
7 61
7* 898
7' 634
84
85
84
448
459
445
364
347
354
479
501
487
950
1,017
979
1 027
993
1 Oil
1,400
1,450
1,422
1,143
1,213
1,156
1 122
1 162 1 087
292
300
308
303
313
308
50, 585
16 161
553
2 745
12 863
7 483
84
444
349
478
923
992
1,372
1,123
1 126
291
301
50, 629 50, 536 50, 825
16 194 16 122 16 115
561
560
561
9 711
2 712
2 747
12 887 12 849 19 g4Q
7 343
7 404
7 454
82
84
81
459
454
463
351
355
354
477
477
479
889
878
905
985
960
979
1,317
1,300
1,339
1,106
1,097
1,113
1 151 1 155 1 143
286
287
287
307
303
303
51,136
16 312
567
2,734
13 Oil
7 450
77
469
366
483
892
993
1,300
1,131
1,142
286
311
51,398
16,467
569
2,741
13,157
7,527
75
475
379
488
911
1,000
1,314
1, 139
1,140
291
315
7-51,500
7- 16,511
-582
r
2,710
7-13,219
7- 7, r 532
70
7-481
7-384
489
7-892
998
7- 1, 310
7- 1, 148
7- 1, 150
7-296
7-314
51, 670
16, 580
592
2,697
13, 291
7,583
70
482
389
486
903
1,002
1,309
1, 159
1,166
298
319
5 492
1 131
65
777
1,071
474
629
560
127
439
219
5,561
1,147
65
800
1,071
479
632
566
128
453
220
5,630 7- 5, 687 7- 5, 687
1,150 7- 1, 154 7- 1, 148
68
65
66
7-832
7-831
819
1,086 7- 1, 107 7- 1,110
493
490
487
7-627
7-630
632
7-580
7-579
573
130
129
128
7-467
471
463
233
230
226
5,708
1,141
68
837
1,120
500
629
579
130
470
234
Seasonally Adjusted!
Total employees, nonagricultural payrolls J. .do
Private sector (excl. government)
do. Nonmanufacturing industries
do
Goods-producing
do
Mining .
do
Contract construction
do
Manufacturing
do
Durable goods
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
do
Nondurable goods
do
Food and kindred products
do
Tobacco manufactures.
do
Textile mill products
do
Apparel and other textile products, .do
Paper and allied products
do
Printing and publishing
do
Chemicals and allied products.
do
Petroleum and coal products
do .
Rubber and plastics products, nee .do
Leather and leather products
do
Service-producing
Trans., comm., electric, gas, etc
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
Government
Federal
State and local
.
8 229
1,719
79
1 026
1,406
701
1,104
1,033
193
677
291
do
do
do
do
do
do
do
do..].
do
do
52, 169
4,644
16, 674
4,107
12, 568
4,091
13,021
13, 739
2,663
Production or nonsupervisory workers on private
nonagric. payrolls, not seas, adjusted
thous..
Manufacturing...
do
52, 334
n
O7C
8 151
1 713
80
988
1,348
702
1,112
1 C57
199
676
278
53,715
4,696
17, C17
4,223
12, 794
4,208
13,617
14, 177
2,724
M
1 Q QOPi
I 0 OQ7
n
ocl
49, 804
-I 9
QKQ
Seasonally Adjusted!
Production or nonsupervisory workers on private
nonagricultural payrolls!thous. . 52, 334
Goods-producing....'
" do
18 562
400
Mining
.
do
Contract construction.. .
do
3 01 c;
1
A
7«n
Manufacturing
do
Durable goods
do
8 691
Ordnance and accessories
do
92
Lumber and wood products
do
554
Furniture and
fixtures
do""
442
Stone, clay, and glass products
do
553
Primary metal industries
do
1, 065
Fabricated metal products
do
1 156
Machinery, except electrical
do
1,416
Electrical equipment and supplies. ..do
1,387
Transportation equipment
do
1 368
Instruments and related products
do
306
Miscellaneous manufacturing
do
353
Nondurable goods
do
6 069
Food and kindred products
. do
1 163
Tobacco manufactures
do
' 66
Textile mill products. ..
.
do
901
Apparel and other textile products. ..do
1,221
Paper and allied products
do
544
Printing and publishing
do.."
670
Chemicals and allied products.
.do
600
Petroleum and coal products
do
122
Rubber and plastics products, nee... do
534
Leather and leather products
do
249
53, 029 52, 687 52, 038
18 374 17 869 17 373
527
513
' 549
3 234
3 113
3 058
14 613 14 207 13 802
8 641 8 398 8 133
84
85
85
476
533
486
423
396
384
552
531
519
1,074
1,069
1,038
1 150 1 112 1 075
1,495
1,500
1,475
1,372
1,245
1,299
1 285 1 271 1 206
312
322
317
333
350
318
5 972
1 164
66
862
1,163
540
671
612
126
530
237
5 809
1 148
64
815
1,118
522
662
613
127
509
231
5 669
1 140
65
789
1,068
512
660
596
126
488
225
5 539
1 127
67
749
1,044
500
656
584
120
473
219
Service-producing
do
34 656 34 818 34 665 34 590
33 771
Transportation, comm., elec., gas, etc
do
4, 035
4,011
3, 956
4,058
4,019
Wholesale and retail trade
do
15, 065 15, 096 14, 959 14, 930
14, 799
Wholesale trade
do
3,533
3 499
3 526
3,518
3 433
Retail trade
do
11 540 11 563 11 441 11 431
11 366
Finance, insurance, and real estate
do
3,232
3,225
3,232
3,184
3,240
Services
do
11.769
12. 293 12. 455 12. 463 12,479
T
Revised.
p Preliminary.
{Effective with the Oct. 1975 SURVEY, all establishment (payroll) employment, hours,
earnings, and labor turnover reflect the periodic adjustment of these data to more recent
benchmarks (Mar. 1974) and to revised seasonal factors. Data back to Jan. 1970 are subject
to revision. The Oct. 1975 EMPLOYMENT AND EARNINGS (BLS) provides monthly data back
to 1970 for many of the series published in the SURVEY.
5 417
1 123
66
730
1,019
485
649
576
117
441
211
5 354
1 119
64
727
1,008
474
644
563
122
426
207
5 380
1 125
62
745
1,020
471
639
558
121
430
209
5 433
1 131
62
766
1,033
472
636
562
123
436
212
5 445
1 133
62
771
1,043
469
631
560
125
436
215
7-51,504
r 16,532
585
'2,712
7- r 13,235
7, 548
75
r 483
7-381
7-488
894
1,004
7- 1, 319
7- 1, 151
7- 1, 144
7- 295
7-314
090
34 518 34 433 34, 424 34, 435 34, 414 34, 710 34,824 34,931 7- 34,972 7-34,989 35,
3,835
3,828 7- 3, 835 7- 3, 859
3,825
3,827
3, 865
3,849
3,922
3, 869
3,831
15,
171
14, 896 14, 863 14, 858 14, 862 14, 896 15, 081 15, 116 15.159 7- 15,146 7-15,108
3,476
3,463 r r 3, 459 7- 3, 452
3,445
3,448
3,440
3,464
3,461
3, 458
3,480
11,695
11 416 11 399 11,397 11 404 11,456 11,633 11,671 11.696 11,687 7- 11,656
3,245
3, 234 r 3, 232 7- 3, 239
3,218
3,203
3,208
3,210
3,206
3,209
3,217
12. 483 12, 491 12,495 12,515 12, 479 12, 599 12,665 12,710 7- 12,759 7- 12,783 12,839
ONOTE FOR P. S-16: In accordance with the 1975 Tax Reduction Act (effective May 1,
1975), new formulas have been constructed for the period May-Dec. 1975 for calculating spendable earnings. Therefore, the entire reduction in 1975 taxes is accounted for in the period
May-Dec. 1975. The 4.7% increase from Apr. to May 1975 in real spendable earnings reilests a
.1% increase in real weekly earnings plus a 4.670 decrease in the average tax effect (the change
in avg. soc. security/federal income tax rates for worker with 3 dependents who earned the
aver, weekly earnings).
SURVEY OF CURRENT BUSINESS
January 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
Annual
1975
1974
1974
1973
S-15
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.?
Dec.p
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
AVERAGE HOURS PER WEEK
Seasonally Adjusted
Avg. weekly hours per worker on private nonagric.
payrolls:}: H Seasonally adjusted
hours
Not seasonally adjusted
do
Mining
do
Contract construction
do
Manufacturing: Not seasonally adjusted.. .do
Seasonally adjusted
do
Overtime hours
do
36 3
36 4
41 3
37 4
39.9
39 4
2 7
36 °
35 7
42 5
37 2
38.7
39 2
2 4
36 1
35 7
42 4
36 8
38.5
38 8
2 4
35 9
35 6
41 9
34 9
38.7
38 9
2 3
35 9
35 7
41.1
36 8
38.9
39. 1
2.3
35.9
35.8
42.6
36.9
39.0
39.0
2.4
36.0
36 3
42.2
35.7
39.5
39.3
2.4
36.0
36.4
42.1
36.2
39.2
39.4
2.6
36.2
36.6
41.8
36.7
39.7
39.7
2.8
36.1
36.3
42.1
36.7
40.2
39.8
2.8
36.2
36.2
M2.7
36.6
7- 39. 9
7- 39. 8
2.8
36.3
36.2
M3.0
36.8
MO. 1
7- 39. 9
2.8
36.5
36.6
43.1
37.5
40.8
40.3
3.0
38
3.2
36 2
36 1
36 3
37 0
39.7
39 5
28
Durable goods
Overtime hours
Ordnance and accessories
Lumber and wood products
Furniture and fixtures _
Stone, clay, and glass products..
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
do
do..
do
do
do
do
41 5
41
41 8
40 7
39.9
42.1
42 4
41 6
42.6
40.4
41 9
40.8
38 9
40.7
3.4
41 7
39.7
39.0
41.4
41.7
40.8
42.3
39.8
40.1
40.2
38.5
40 3
30
41 9
38 5
37 8
41.2
41 5
40 4
42.2
39.5
39.6
39.9
37 9
40 2
2.8
41 7
38 2
37.4
41.0
41 1
40.5
42.0
39.6
39.5
39.7
38 2
40 1
2 5
41 8
38 1
36 6
40.9
40 6
40 4
41.8
39.5
39 6
39.6
38 1
39 7
2.5
41 3
38 6
36.4
40.2
40 3
39.8
41.3
39.2
39.2
39.0
37.8
39 5
2.3
41 3
38 0
36.6
39.6
40 0
39.7
40.9
39.2
39.1
39.1
37 7
39.7
2.4
41.3
38.8
37.2
40.3
39.7
39.7
41.0
39.4
40.5
39.2
38.1
39.5
2.2
41.1
38.8
37.5
40.2
39.5
39.5
40.5
39.1
39.5
39.3
38.1
39.6
2.3
41.6
39.0
37.6
40.3
39.6
39.5
40.4
39.3
40.0
39.4
38.3
39.8
2.5
40.1
39.1
37.8
40.6
39.7
39.5
40.5
39.5
40.7
39.7
38.1
40.2
2.7
41.2
39.5
38.3
40.7
39.9
40.0
40.8
39.6
41.2
39.5
38.2
40.2
2.7
41.7
39. 6
38.9
40.8
39.9
40.2
40.7
39.6
40.9
39.7
38.7
MO.O
2.6
Ml. 6
7- 39. 8
7- 38. 9
40.8
39. 9
MO. 4
MO. 6
39.6
MO. 4
7- 39. 7
38.8
40.1
2.6
7- 41.7
7-39.4
7- 39. 1
r
40. 9
MO. 2
7- 40. 5
MO. 8
7-39.6
MO. 5
7- 39. 9
7-38.6
40.7
2.9
40.8
40.2
39.6
41.2
40.3
40.9
41.0
40.4
41.7
40.0
39. 5
Nondurable goods
Overtime hours
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
do
do
do
do
do
do
39 6
34
40 4
38.5
40 9
35.8
39.1
3.0
40.4
38.0
39.4
35.1
38 4
2 6
40.1
37.3
37 7
34.4
38 2
2.5
40.0
37.7
36.7
34.3
38 1
2 3
40.0
37.5
36 2
34.2
37 6
2.2
40.0
37.5
36.1
33.6
37 9
2 2
40.2
38.6
36 9
33.8
38.0
2.2
39.9
38.3
37.7
34.3
38.3
2.4
39.9
36.9
38.9
34.4
38.7
2.6
39.9
39.8
39.2
35.2
38.8
2.8
40.1
35.4
39.6
35.2
39.3
2.9
40.7
37.6
40.4
35.5
39.4
3.0
40.9
38.0
40.9
36.0
7-39.5
7-3.0
MO. 6
37.5
Ml.O
7-36.2
39.5
^3.0
MO. 4
7-39.5
Ml.O
7-36.1
39.8
3.1
40.4
37.1
41.3
36.7
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
do
.do
do
do
do
do
42 7
37.9
41.9
42.3
41.1
37.9
42.1
37.6
41.6
42.5
40.4
37.2
41.3
37.4
41.1
42.2
39.7
36.6
41.3
37.3
41.0
42.2
39.5
36.2
41 0
37.4
40.7
41.9
39.5
35.9
40.6
37.1
40.6
41.9
38.8
35.4
40.5
37.0
40.4
41.7
38.7
35.3
40.4
36.8
40.3
41.0
39.0
36.5
40.9
36.7
40.6
41.5
39.6
36.5
41.5
36.7
40.7
41.2
39.6
37.5
41.6
36.7
40.9
41.3
40.0
37.8
42.1
37.1
41.1
41.0
40.1
38.0
42.2
36.9
41.3
41.6
40.1
38.4
M2 3
37.0
Ml. 4
Ml. 8
40.0
38.9
M2.5
37.3
Ml. 5
M2. 0
7- 39. 9
7-38.4
42.9
37.7
41.9
41.5
40.9
38.9
.do
do
do
do
do
do
40.6
34.7
39.5
33 3
36.9
34.0
40.2
34.1
38.9
32.7
36.7
33.9
39.8
33.8
38.6
32.5
36.8
33.8
39.8
33.9
38.6
32.5
36.8
33.8
39.9
33.8
38.7
32.4
36.9
33.9
39.7
33.9
38.6
32.3
36.8
33.9
39.7
33.9
38.6
32.5
36.6
33.8
39.8
33.7
38.6
32.3
36.2
33.7
39.2
33.9
38.6
32.5
36.4
33.9
39.5
33.8
38.4
32.4
36.5
33.9
39.4
33.6
38.5
32.2
36.3
33.7
39.5
33.8
38.6
32.3
36.3
33.8
39.7
33.6
38.5
32.2
36.3
33.6
7-39.7
33.9
38.8
32.3
36.4
7-33.7
r
39.9
33.8
38.8
32.4
36.4
33.8
Hours of wage and salary workers in nonagric.
establishments, for 1 week in the month, seasonally adjusted at annual rate}
bil. hours. . 149. 27
121 91
Total private sector
do
1.42
Mining
do
7.68
Contract construction
do
42.06
Manufacturing
do
9.78
Transportation, comm., elec., gas
do....
30.13
Wholesale and retail trade ...
do
7.83
Finance, Insurance, and real estate
do
23 02
Services
do
27.36
Government .
do
150. 72
122. 63
1.53
7.58
41.50
9.82
30.27
8.01
23.93
28.08
149. 99
121.31
1.36
7.36
40.34
9.69
30.17
8.09
24.29
28.68
148. 48
120. 13
1.47
7.33
39.32
9.64
29.96
8.09
24.31
28.35
147. 96
119. 22
1.60
7.25
38.44
9.55
29.86
8.10
24.43
28.74
146. 15
117. 39
1.60
6.87
37.28
9.42
29.72
8.06
24.44
28.76
145. 38
116.34
1.59
6.29
36.98
9.30
29.80
8.01
24.37
29.04
145. 58
116. 32
1.56
6.58
36.94
9.33
29.66
7.92
24.32
29.26
145. 70
116. 60
1.64
6.60
36.95
9.16
29.81
7.96
24.48
29.10
145. 04
116. 24
1.63
6.30
36.98
9.18
29.73
7.98
24.45
28.80
145. 35
116. 46
1.63
6.39
37.05
9.15
29.80
7.93
24.52
28.89
146.81
117.61
1.63
6.52
37.70
9.17
29.94
7.96
24.69
29.20
147.26
118.00
1.65
6.55
38.06
9.18
29.91
8.00
24.66
29.26
7- 148.29 7- 148.41
7- 118.49 r 118.93
1.72
7- 1.72
6.48 7-6.51
113.0
105 9
103.7
120.1
103.5
104.7
101.7
117.9
108.4
116.1
113 2
117.1
123.5
123 0
113.0
103.4
111.7
117.1
100.7
102.0
98.8
119.7
108.6
116.2
114.4
116.9
125.0
127.9
111.3
99.2
99.7
112.9
96.8
98.3
94.5
119.6
106.8
115.7
113.8
116.4
125.1
129.3
109.9
96.7
106.0
112.1
93.6
94.9
91.7
119.1
106.2
114.7
113.3
115.2
125.1
129.3
108.9
94.5
117.4
111.0
90.8
91.8
89.3
118.9
105.0
114.3
113.0
114.7
125.2
129.9
107.0
90.7
116.7
104.1
87.4
87.9
86.7
118.4
103.5
113.7
112.1
114.2
124.5
129 9
105.9
88.4
115.9
94.5
86.4
86.6
86.0
118.1
102.1
113.9
111.6
114.8
123.6
129.6
106.0
89.2
113.7
99.0
86.6
86.5
86.7
117.6
102.3
113.4
111.5
114.0
122.1
129.3
106.3
89.4
119.4
99.3
86.6
85.4
88.2
118.0
100.3
113.9
111.4
114.8
122.9
130.3
106.0
88.9
118.4
94.9
86.8
85.2
89.1
117.8
100.6
113.7
110.3
115.0
123.2
129.9
106.4
89.3
118.8
96.2
87.1
84.9
90.2
118.3
100.3
114.6
110.8
116.0
122.3
130.4
107.6
91.2
118.6
98.3
89.0
86.7
92.4
119.0
100.5
115. 2
111.0
116.8
122.9
131.4
108.1
92.4
119. 9
98.6
90.3
87.7
94.1
119. 0
101.1
115.2
111.3
116.7
123. 5
131.1
7- 108. 5 7- 109. 0
7-92.7
7-92.8
7- 125. 0 7- 125. 2
7-97.3 7- 97. 7
7- 90. 8
7-87.8
95. 1 r 95. 1
119.5
3.92
4 73
6.37
4 08
3.89
4 34
4.13
4.35
3.64
3 26
4.21
5 04
4 26
4.56
3.89
5 07
3.90
3.27
4.22
5.21
6.75
4 41
4.24
4.69
4.50
4.71
3.91
3.50
4.52
5.60
4.59
4.92
4.17
5.48
4.20
3.50
4.36
5.23
7.00
4 59
4.43
4.89
4.74
4.87
4.02
3.59
4.65
5.89
4.76
5.12
4.34
5 73
4.33
3.59
4.38
5.43
7.05
4.66
4.50
4.96
4.79
4.94
4.02
3.63
4.68
5.93
4.82
5.20
4.42
5 82
4.42
3.67
4.40
5 69
7.07
4 67
4.54
4.95
4.81
4.98
4.05
3.64
4.67
5.93
4.78
5.17
4.43
5 77
4.42
3.73
4.42
5 74
6.99
4 68
4.56
4.98
4.84
5.04
4.11
3.66
4.69
5 99
4.84
5.21
4.45
5 75
4.46
3.73
4.44
5.75
7.14
4.72
4.59
5.02
4.88
5.09
4.14
3.69
4.72
6.01
4.90
5.24
4.48
5 84
4.49
3.73
4.46
5.73
7.12
4.73
4.60
5.04
4.90
5.10
4.13
3.71
4.78
6.01
4.93
5.26
4.51
5 86
4.49
3.75
4.48
5.81
7.12
4.75
4.61
5.06
4.93
5.15
4.17
3.70
4.83
6.04
4.98
5.29
4.53
5.88
4.52
3.75
4.51
5.87
7.18
4.78
4.63
5.10
4.95
5.17
4.25
3.72
4.87
6.07
5.03
5.32
4.58
5.96
4.54
3.78
4.53
5.88
7.24
4.81
4.65
5.13
4.98
5.22
4.31
3.74
4.93
6.11
5.04
5.33
4.61
6.00
4.56
3.79
4.56
5.92
7.27
4.82
4.65
5.16
5.00
5.28
4.39
3.78
4.96
6.29
5.10
5.39
4.60
6.01
4.57
3.79
4.64
6.02
7.42
4. 89
4.70
5.24
5.06
5.39
4.43
3.79
5.01
6.39
5.17
5.47
4.66
6.14
4.60
3.82
Trans., comm., elec., gas, etc
Wholesale and retail trade
Wholesale trade
Retail trade
Finance Insurance and real estate
Services
.
37.1
42.5
37 0
40.7
36 6
42.4
36 9
40.0
39.8
7-33.8
7-38.7
7- 32. 5
7-36.7
33.9
AGGREGATE HOURS
Seasonally Adjusted
Indexes of hours (aggregate weekly) :JH
Private nonagric. payrolls, total
1967 = 100..
Goods-producing
do
Mining
do
Contract construction
do
Manufacturing .....
do
Durable goods
do
Nondurable goods
do
Service-producing ... .
do
Transportation, comm., elec., gas
do
Wholesale and retail trade
do
Wholesale trade
do
Retail trade
...
do
Finance, insurance, and real estate
do
Services
do
r 38. 17
r 38. 16
7- 9. 24
7- 30. 04
8.04
7- 9. 32
7- 30. 11
'8.11
7- 25. 01
7- 29. 48
r 24. 81
7- 29. 80
r 101.2
115.6
7-112.0
116.9
7- 115.8
149. 32
119. 60
1.73
38. 65
9.30
30.20
25.05
29.72
109.6
94.3
127.7
116.1
M17.4
r 123. 7
7- 132. 0
HOURLY AND WEEKLY EARNINGS
Average hourly earnings per worker :J1[
Not seasonally adjusted:
Private nonagric. payrolls
dollars..
Mining
do
Contract construction
do
Manufacturing
do
Excluding overtime
do
Durable goods
do
Excluding overtime
do
Ordnance and accessories
.
do
Lumber and wood products. _. . d o
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
r
Revised.
» Preliminary.
J See note "t", p. S-14.
^Production and nonsupervlsory workers.
M.66
7-6.02
7-7.42
4.90
M.72
5.26
5.08
7- 5. 41
M.42
3.81
5.02
6.35
5. 19
7- 5. 51
4.66
7-6.24
M.60
3.83
M.67
6.11
7-7.42
4.93
4.76
5.29
5.11
7- 5. 43
4.67
6.17
7.43
4.99
4.81
5.37
3.82
7- 5. 05
6.43
5.22
7- 5. 54
4.69
6.25
M.64
3.86
3.86
6.51
4.76
6.39
3.92
SUEVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1973
1974
1974
Annual
January 1976
Nov.
1975
Dec.
Jan.
Mar.
Feb.
Apr.
June
May
July
Aug.
Sept.
Oct.
Nov.*
Dec.*
4.48
4.31
4.74
4.46
3.55
3.26
5.21
5.53
5.57
6.61
4.53
3.29
6.14
3.81
5.06
3.39
4.23
4.22
4.67
6.11
7.38
4.95
6.13
3.84
4.22
4.21
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS— Con.
Avg. hourly earnings per worker, private nonagric.
payrolls. Not seas, adj.J If— Continued
Manufacturing— Continued
Nondurable goods
.
dollars
Excluding overtime
do
Food and kindred products
do..
Tobacco manufactures
do
Textile mill products
... do
Apparel and other textile prod
do
Paper and allied products
do
Printing and publishing
do
Chemicals and allied products
do ..
Petroleum and coal products
do
Rubber and plastics products, nee. do
Leather and leather products
.do
Transportation, comm., elec., gas
-do
Wholesale and retail trade
do ._
Wholesale trade
do
Retail trade
do
Finance, insurance, and real estate
do
Services
do
Seasonally adjusted: {
Private nonagricultural payrolls. .
do
Mining
-do
Contract construction
_
do
Manufacturing
do
Transportation comm. elec., gas
do
Wholesale and retail trade
do
Finance, insurance, and real estate
do
Services
- do
Indexes of avg. hourly earnings, seas, adj.: ® 1ft
Private nonfarm economy:
Current dollars
1967=100
1967 dollarsA
do
Mining
do
Contract construction
do
Manufacturing
__
do
Transportation, comm., elec., gas
do
Wholesale and retail trade
do
Finance, insurance, and real estate _ do
Services
do
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (E NR): c?
Common labor
$perhr_.
Skilled labor
do
Farm (U.S.) wage rates, hired workers, by
method of pay:*
All workers other than piece-rate
Workers receiving cash wages only
3.68
3.53
3.82
3.74
2.95
2.78
4.19
4.68
4.48
5.21
3.80
2.81
5.04
3.20
4.12
2.87
3.58
3.46
3.99
3.84
4.16
4.10
3.19
2.99
4.51
4.97
4.85
5.61
4.03
3.01
5.43
3.47
4.49
3.09
3.82
3.76
4.14
4.00
4.30
4.20
3.28
3.10
4.69
5.12
5.06
5.78
4.16
3.11
5.62
3.58
4.68
3.18
3.92
3.89
4.20
4.07
4.37
4.27
3.28
3.11
4.74
5.17
5.11
5.82
4.21
3.12
5.65
3.57
4.71
3.18
3.98
3.92
4.23
4.11
4.42
4.34
3.29
3.14
4.75
5.16
5.15
5.88
4.23
3.15
5.67
3.65
4.74
3.24
3.99
3.94
4.25
4.13
4.45
4.49
3.30
3.13
4.75
5.20
5.16
6.11
4.22
3.18
5.70
3.68
4.79
3.27
4.05
3.99
4.27
4.16
4.48
4.69
3.31
3.16
4.78
5.23
5.19
6.27
4.23
3.21
5.72
3.68
4.80
3.27
4.09
4.00
4.27
4.16
4.49
4.77
3.32
3.16
4.81
5.25
5.22
6.30
4.25
3.21
5.75
3.69
4.80
3.29
4.09
3.99
4.30
4.17
4.52
4.77
3.33
3.15
4.86
5.32
5.30
6.33
4.30
3.20
5.78
3.72
4.83
3.31
4.11
4.01
4.32
4.18
4.54
4.89
3.34
3.16
4.95
5.35
5.35
6.38
4.33
3.21
5.83
3.73
4.87
3.33
4.16
4.02
4.36
4.21
4.55
4.62
3.34
3.16
5.05
5.41
5.42
6.51
4.42
3.22
5.90
3.73
4.88
3.33
4.13
4.03
4.36
4.20
4.58
4.32
3.38
3.16
5.10
5.45
5.44
6.55
4.39
3.21
6.05
3.76
4.93
3.35
4.15
4.03
4.41
4.23
4.62
4.29
3.48
3.22
5.11
5.49
5.48
6.61
4.41
3.26
6.11
3.80
4.94
3.39
4.16
4.13
4.42
4.25
'4.65
4.27
3.53
3.24
5.15
3.41
4.17
4.16
4.45
'4.28
4.69
'4.40
3.53
3.25
'5.21
'5.50
'5.56
'6.65
4.43
3.27
'6.16
'3.84
5.02
'3.42
4.24
'4.21
3.92
4.73
6.37
4.08
5.04
3.20
3.58
3.46
4.22
5.21
6.75
4.41
5.43
3.47
3.82
3.76
4.35
5.22
6.96
4.59
5.60
3.59
3.94
3.89
4.38
5.38
7.00
4.62
5.64
3.60
3.97
3.91
4.41
5.62
7.03
4.65
5.66
3.63
3.97
3.93
4.43
5.71
6.98
4.68
5.70
3.67
4.02
3.97
4.46
5.76
7.18
4.72
5.75
3.67
4.08
3.99
4.47
5.71
7.18
4.73
5.77
3.68
4.08
3.99
4.49
5.82
7.16
4.75
5.82
3.71
4.11
4.01
4.51
5.89
7.27
4.78
5.87
3.73
4.18
4.04
4.54
5.92
7.33
4.82
5.90
3.74
4.14
4.06
4.57
5.97
7.30
4.86
6.05
3.78
4.18
4.08
4.60
6.01
7.32
4.88
6.04
3.79
4.16
4.10
'4.63
'6. 08
'7.32
4.90
'6.12
3.82
4.18
4.15
'4.67
6.10
'7.38
4.93
'6.14
'3.85
4.26
'4.21
146.6
110.1
147.6
154.4
143.6
155.6
143.1
138.4
150.1
158.6
107.4
163.1
163.7
156.0
167.3
155.0
148.6
163.3
165.4
164.2
166.3
106.4
106.4
106.3
172.6
167.9
174.9
168.3
169.6
170.4
162.5 ' 163. 6 164.8
173.6
172.7
174.3
160.4
162.6
161.1
155.0
153.9
154.9
169.4
170.4
168.3
169.4
106.8
178.1
173.7
168.6
177.6
164.9
159.4
172.5
170.6
107.1
180.7
173.4
169.7
179.3
166.4
160.4
173.5
172.2
107.3
182.8
175.9
171.0
181.1
167.5
163.1
175.5
173.1
106.6
184.0
177.4
172.2
182.4
168.3
161.5
175.8
174.6
107.4
186.2
176.7
173.3
186.2
170.5
163.0
177.1
175.2
107.2
187.2
177.3
174.5
7.07
9.58
7.55
10.18
7.88
10.55
7.99
10.70
8.06
10.76
8.23
10.93
8.44
11.08
8.57
11.24
do
do
Railroad wages (average class I)§
do
Avg. weekly earnings per worker, If private nonfarm :t
Current dollars, seasonally adjusted
1967 dollars, seasonally adjusted A Spendable earnings (worker with 3 dependents):©
Current dollars, seasonally adjusted
1967 dollars, seasonally adjusted A
Current dollars, not seasonally adjusted :J
Private nonfarm, total
dollars. _
Mining
do
Contract construction.
do
Manufacturing
_
... do
Durable goods
do
Nondurable goods
__ _. ...do ..
Transportation, comm., elec., gas
do
Wholesale and retail trade
do
Wholesale trade _.
do _
Retail trade
do
Finance, insurance, and real estate . . do .
Services
do
HELP-WANTED ADVERTISING
Seasonally adjusted indexf
-- 1967=100
5.427
2.25
2.21
2.43
2.35
7.90
10.58
5.698
5.707
7.94
10.62
169.1
167.8
107.2
106.6
' 177. 6 178.5
173.7
168.8
166.1
167.7
175.6
176.8
164.1
164.8
157.3
159.8
172.1 ' 172. 8
7.96
10.66
7.96
10.67
2.42
2.39
2.63
2.46
2.47
2.42
2.70
2.49
160. 47
101. 11
6.077
'5.49
5.50
6.61
4.42
'3.25
'6.14
3.82
'•4.98
' 176. 7
' 107. 5
' 188. 9
' 177. 7
176.0
r 186. 3 ' 188. 8
170.5 ' 171.9
162.6 ' 163. 8
177.8 T 179. 4
8.58
11.29
2.29
2.25
2.39
2.31
8.59
11.35
2
2
2
2
' 178. 0
178.0
107.5
107.0
189. 6 192.1
178. 6
178.5
177. 0
177.4
189. 2
189.3
173. 1
173.0
166. 9 165.0
182. 0
181 8
'
'
'
'
'
'
'
8.60
11.37
63
56
82
65
161. 19
101.21
162. 36
101. 16
163. 44
100. 67
165. 43
101. 73
166. 06 ' 167. 61 ' 169. 52 170. 46
101. 65 '101.93 ' 102. 39 102. 45
145. 43
109. 26
154. 45
104. 57
157. 47
102. 07
158. 99
102. 26
159. 64
102. 02
159. 92
101. 64
160. 11
101. 48
127. 41
134. 37
136. 70
88.61
137. 87
88.67
138. 38
88.43
138. 59
138. 73
139. 00 «146. 00
87.58 « 91. 67
146. 91
91.53
147. 76
91.01
149.31
90.97
149. 81 '151.02 ' 152. 48
91.70 ' 91. 84 '92.09
145. 43
201. 03
235. 69
166. 06
180. 11
145. 73
204. 62
111. 04
162. 74
157. 40
190. 37
255. 50
182. 22
198. 05
159. 80
223. 68
120. 29
180. 65
102. 08
143. 86
130. 70
159. 43
224. 80
259. 44
185. 93
202. 86
161. 70
224. 87
122.09
183. 69
104. 30
146. 46
132. 50
157. 08
238. 98
250. 99
180. 73
195. 53
159. 05
224. 53
121. 55
182. 49
103. 03
147. 23
132. 78
157. 79
241. 08
247. 45
180. 18
196. 21
158. 53
224. 58
122. 91
183. 46
103. 99
134. 46
158. 06
237. 48
247. 76
182. 66
197. 79
160. 98
224. 80
123. 28
184. 32
104. 64
149. 29
134. 40
159. 22
233. 78
259. 17
184. 00
199. 58
161. 41
226. 55
123. 25
183. 84
104. 95
148. 06
133. 67
160. 38
247. 51
262. 73
185. 25
199. 87
164. 26
226. 00
124. 99
185. 96
106. 25
149. 19
134. 74
163. 71
250. 65
262. 07
188. 81
203. 49
168. 05
231. 45
127. 19
187. 98
109. 22
151. 84
137. 08
164. 89
248. 72
270. 05
188. 55
202. 64
169. 60
235. 41
128. 69
188. 86
110. 89
150. 33
138. 23
166.90
248.64
274.81
191.35
205.88
172.22
241.40
130.10
190.79
111.89
151.06
138.23
168. 43 '168.69
255.25 ' 259. 46
278.99 ' 278. 25
196. 58 '195.51
212. 22 '211.45
175. 52 ' 175. 03
243. 79 '244.99
128. 06 128. 73
132. 10
117. 64
154. 45
220. 90
249. 08
176. 40
190. 88
156. 01
218. 29
118. 33
174. 66
101. 04
140. 19
127. 46
126
110
91
85
77
76
74
74
74
81
84
83
83
83
87
4. 8
3.9
4.6
2.7
.9
2. 4
1.7
5.0
1.4
2.8
1. 8
1.0
5.2
.9
4.1
1.3
4.2
1.0
2.5
3.9
1.3
3.6
1.3
1.5
4 C
2.6
4. 4
1.5
2.0
5 1
3.1
4. 6
2.4
1.3
R
6.2
1.1
1.2
4.5
.9
2.9
3 7
1.6
4.0
1.1
2.1
e
1.3
3
3.2
4.8
2.3
1.5
3.0
4.3
2.0
1.4
3.7
'2.4
A ft
1.6
1.6
2.7
1.7
35
1.2
1.7
3.1
2.2
5.6
1.8
2.5
3.1
1.8
6.0
1.5
2.6
3.3
1.5
5.9
1.3
3.1
3.3
1.6
5.3
1.2
3.0
3.4
1.5
4.7
1.1
2.7
3.9
1.7
4.5
1.2
2.6
3.5
1.8
4.1
1.3
2.6
3.5
1.8
3.9
1.3
2.1
4.2
2.4
4.0
1.5
1.5
4.0
2.4
3.6
1.5
1.5
3.7
2.3
3.5
1.3
1.7
3.6
'2.2
3.7
1.5
1.7
3.6
2.3
4.0
1.6
1.6
353
183
350
300
370
517
619
648
990
626
1 039
455
913
363
667
449
688
332
628
210
397
292
565
183
415
154
310
141
200
63
179
95.73
95.57
88.08
149.04
87.93
8.62
11.42
91.82
190.68 '193.22
109.50 109 46
150.59 151.79
139. 18 '139 78
153. 20
92.08
'169.05
'263.34
'269.35
170. 92
266. 54
274. 17
' 197. 69 203. 59
213. 19 222. 32
176. 67 179. 65
'245.17 244. 99
' 129. 02 129. 92
' 194. 27 198. 35
' 109. 78 110. 85
'155.18 153. 97
'141.88 142. 64
LABOR TURNOVER:
Manufacturing establishments:
Unadjusted for seasonal variation:
Accession rate, total
mo. rate per 100 employees..
New hires
__
do
Separation rate, total
do
Quit
do— .
Layoff
_ __
do
Seasonally adjusted:
Accession rate, total
do
New hires
do
Separation rate, total
do
Quit
do— .
Layoff
do
WORK STOPPAGES
Industrial disputes:
Number of stoppages:
Beginning in month or year
number-
5,353
6,074
74.9
3.6
K9ft
COA
Workers involved in stoppages:
157
In effect during month
_
do._
353
308
1,608
3,807 2,679
D ays idle during month or year
do- _
47, 991
27, 948
r
Revised.
v Preliminary.
J See corresponding note, p. S-14.
If Production and
nonsupervisory workers.
0 The indexes exclude effects of changes in the proportion of
workers in high-wage and low-wage industries, and the manufacturing index also excludes
effects of fluctuations in overtime premiums.
§ For line-haul roads only.
A Earnings
in 1967 dollars reflect changes in purchasing power since 1967 by dividing by Consumer
Price Index.
cf Wages as of Jan. 1, 1976: Common, $8.62; skilled, $11.42.
183
1,737
A
2.0
1.8
£70
74.1
on
171
1 30
94,9
221
412
Q1 Q
4
2.5
A
2, 763
5,799 4,416 3,947
4,930 4,624
1,770 2,517
t Revisions for
O See "O" note, bottom of p. S-14. > See "O," bottom of p. S-14.
1972-74 appear in the Sept.
1975 SURVEY. Scattered revisions for earlier years are available.
*New "series. "USDA1 Quarterly Agricultural Labor Survey. Data beginning 1974 are
for the week containing the 12th day of the quarter month and cover field and livestock
workers, machinery operators, packing-house, maintenance, etc., agricultural workers; no
comparable data prior to 1974 are available.
SURVEY OF CURRENT BUSINESS
January 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1973
1975
1974
1974
Annual
S-17
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
4,590
4,254
4,044
p 4, 120
Dec.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
weekly § 9
- - - thous
State programs:
Initial claims . .
. , . do
Insured unemployment, avg. weekly do
Percent of covered employment: A
Unadjusted
Seasonally adjusted
Beneficiaries, average weekly
thous
Benefits paid §
._
mil $
1,783
2,568
2,825
3 910
5 213
5 751
5 886
5 647
5 202
4 892
4 990
12,820
1,632
18, 880
2,260
2 017
2,499
3 192
3,550
3 616
4 752
2 455
5 108
2 158
5' 091
2 041
4 775
1 749
4 281
1 832
3 878
2 202 P 1, 570 v 1,523 p 1, 653
3,077
2,924 p 3, 045
3 871 3,436
2 7
3.5
1,874
1 371
4 007 6 5, 974. 9
38
4.2
1 814
485 0
7 2
7 7
5.4
7 2
6 4
78
4.9
5.5
7 0
6 0
6 4
68
2 593
3 735
3 837
4 342
4 553 4 377
745. 9 1 128 2 1 164 2 1 290 6 1 301 2 1 145.1
Federal employees, insured unemployment,
average weekly
thous
Veterans' program (UCX):
Initial claims .
___
do
Insured unemployment, avg. weekly do
Beneficiaries, average weekly
do
Benefits paid
mil. $
Railroad program:
Applications
thous
Insured unemployment, avg. weekly do
Benefits paid
mil $
38
40
42
43
46
47
47
43
40
40
43
43
44
45
P 48
360
62
60
209 4
377
71
65
249.2
33
75
70
20 7
39
85
82
25 3
36
93
98
30 9
30
95
100
28 1
29
96
102
30 1
28
92
95
30 0
34
91
95
29 o
41
98
94
32 3
»36
102
P 103
»32 7
p 41
105
p 98
^33 0
p39
107
P 109
p33 8
93
12
30 6
69
10
22.2
5
13
16
10
15
28
15
°5
38
16
26
4 9
9
27
51
30
94
101
31 5
6
27
55
4
20
4 2
18
18
39
28
23
39
13
24
4 9
15
35
16 1
10
31
12 8
p 10
p32
P 10 3
16, 930
49,331
37,259
6,018
31,244
12, 072
16,456
49, 783
37, 790
5,645
32, 145
11, 993
16, 790
48, 246
36, 059
5,574
30, 485
12, 187
30, 421
30, 837
31, 072
31, 354
31,265
15, 851
3,738
11, 248
16, 044
3,847
11,181
16, 247
4,087
10, 200
16, 380
4,041
10, 845
23,269.4
10,628.8
12,640.5
5, 125. 1
7,515.4
23,181.9 '24.138.1 24, 068. 3
10,585.0 11,801.5 11,529.9
12,596.9 '12,336.6 12,538.4
5,153.0 4,921.3 4,937.3
7,443.8 '7,415.3 7,601.0
4.6
J>4.6
4.4
5.1
58
58
P 5.2
5.6
5.8
67
5.8
6 2
3 437 3 208 ?2 952 'P2 489 P 2, 264
984 0 1 086 9 p 881. 3 p 766. 4 p 763. 8 P 734. 2
T
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers 'acceptances
mil. $
Commercial and financial co. paper, total
do
Financial companies .
do
Dealer placed
do
Directly placed
do
Nonfinancial companies .
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
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.)
do....
6 other leading SMSA's 1
do
226 other SMSA's
do
Federal Reserve banks, condition, end of period:
Assets, total 9
mil $
Reserve bank credit outstanding, total 9
Time loans
U.S. Government securities..
Gold certificate account
.
Liabilities, total 9
8,892
41, 073
32, 691
5,487
27, 204
8,382
18, 484
49, 114
36, 450
4,611
31,839
12, 694
17, 553
51,954
37,422
4,860
32,562
14, 532
18, 484
49,144
36,450
4,611
31,839
12, 694
18, 602
51,675
37,027
5,029
31,998
14, 648
18, 579
52,403
37,671
5,167
32,504
14, 732
18, 730
50,811
36,547
5,342
31,205
14, 264
18, 727
51,605
37,587
5,461
32,126
14, 018
18, 108
51,297
38,690
5, 889
32,801
12, 607
17, 740
48,742
36,697
5, 604
31,093
12, 045
21, 840
27, 152
26, 897
27, 152
27, 964
28,304
28, 808
29,214
29, 575
29, 951
11,071
2,577
8,193
13, 643
3,573
9,681
13, 643
3,575
9,933
10, 538. 9
12,379.8
5,160.2
7, 219. 6
106, 464
84, 680
1,258
78, 516
11,460
do
106, 464
14,326
3,821
10, 157
14, 641
3,741
10,426
14,917
3,650
10,646
15, 180
3,499
10, 895
15, 437
3,371
11, 143
15, 654
3, 520
11, 247
'21,853.9 '22,950.1 '22,180.1 '22,705.7 '22,738.6 '22,503.5 '22,827.9
9,931.8 10, 157. 8 10,918.0 10, 241. 1 10, 810. 3 10, 826. 1 11,612.2 10, 709. 5
12, 260.6 ••11,696.0 '12,032.1 '11,939.0 '11,895.4 '11,912.5 '11,891.3 '12,118.3
5,152.7 4, 868. 4 4, 992. 8 4, 899. 9 4, 770. 6 4, 852. 6 '4,756.7 4,841.1
7,107.9 '6,827.7 '7,039.3 '7,039.0 '7,124.9 '7,059.9 '7,134.6 '7,277.2
31,486
27, 060
65, 470
113,611 115,134 113,611 112, 562 112, 633
111,291 122,628 116,755 115,687 112, 587
90,110
1, 225
80, 998
11,460
89, 013
299
80, 501
11, 652
88,669
103
81,344
11,635
113,611 113,134
113,611
112,562 112, 633
111,291 122,628 116,755 115,687 112, 587
33,631
28,839
69, 945
32, 838
28,644
70, 679
32,525
27,139
70,871
41,234
32, 028
71,167
35,002
26,445
72, 280
37,492
37,556
-64
390
-441
35,565
35,333
232
147
96
34,779
34, 513
266
106
153
35, 134
35, 014
120
110
17
34,492
34,493
I
60
-52
89, 013
299
80, 501
11,652
30, 649
25, 843
72, 259
32, 780
29, 860
70, 137
30, 649
25,843
72, 259
All member banks of Federal Reserve System,
averages of daily figures:
1
Reserves held, total
mil. $
35, 068 i 36, 941
Requireddo
i 34, 806 i 36,1 602
Excess.. __
do
!262
339
Borrowings from Federal Reserve banks... do
11,298
1703
1
Free reserves...
do
!- 1,069
333
36, 837
36, 579
258
1,285
-960
36, 941
36, 602
339
703
— 333
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits:
Demand, adjustedd"
mil. $..
14, 086
3,910
9,968
99 Q1fi 7 22, 192.4
.do
do
do
do
Deposits, total
do
Member-bank reserve balances
do ..
Federal Reserve notes in circulation. . do
13, 643
3,575
9,933
88, 856
77
81, 086
11,621
89,465
60
81,418
11, 620
98, 583
1,539
87, 846
11, 620
93,780
24
85, 622
11, 620
92, 929
561
84, 749
11,620
89, 562
177
81,883
11,620
113,672 120,344 -•119,844 "118, 325 P124, 042
90, 516
231
82, 546
11, 598
95,208 ' 96, 097
283
73
86, 998 87, 184
11,599 11,599
76, 578 99, 194
229
46
85, 137 87, 934
11, 599 11,599
113,672 120,344 -•119,844 "119, 844 P124, 042
32, 018 34, 825
25, 864 26, 097
76, 683 78, 770
32, 823
25, 976
73, 626
29, 470
25, 740
74, 207
29, 951
26, 484
74, 653
34,928 35, 550
25,913 * 26, 140
74, 599 74, 891
34, 976
34, 428
548
271
278
34, 655
34, 687
—32
261
276
34, 482
34, 265
217
211
44
34,646 '34,567 '34,571 p35, 102
34,447 '34,441 '34,281 ?34, 716
P386
' 156 '290
199
p 129
'191
'61
396
P271
'30
'257
136
103,863 102,593 104,071 104, 146 '104,320 113,646
112,534
109,981 100, 674 109,981 101,930 101, 220 104, 863 102, 619
101,759 107,114
do
do
do
do
do
184, 565
128,210
7,352
7,161
25, 286
185,215 165, 295 185,215 152,838 153, 243 162, 031 164, 368
129,449 118, 647 129,449 110,564 112, 434 117, 808 115, 788
5,999
7,039
6,046
7, 039
6,714
6,043
6,418
2,007
1,471
1, 852
1,471
1, 440
1,281
4,905
31, 807 24, 901 31,807 20,630 20, 674 22, 434 23, 328
161,170 169,097 158, 966
117,375 121,565 115, 875
5,947
5,970
6,413
1,425
859
1,330
22, 513 24, 694 23, 360
165,445 167, 744 159, 299 '167,015 186, 667
120,411 119, 800 116, 182 '121,317 134, 090
7, 125
5,808 ' 5, 860
6,496
6,190
1,374
1,247 ' 2, 425
1,070
1,243
29,
593
24,635 25, 790 22, 104 ' 24,163
Time, total 9
do
Individuals, partnerships, and corp.:
Savings
.
do
Other time
do
189, 643
228,045 218, 965 228,045 226, 719 224, 440 226, 136 223, 520
225,929 223,211 222, 475
222,765 225, 264 224, 960 '225,877 228, 762
57,087
95, 393
58, 485 57, 809 58,485 58, 740 59, 694 62, 238
122,201 117,626 122,201 120, 966 118,810 119, 469
62, 396 64, 644 65, 483 65, 392
113,639 113,594 112,922 113,218
65,246 65, 590 65, 928 '67,552 69, 049
114,625 116, 184 115, 442 '116,062 116,296
Loans (adjusted), totalcf
do
Commercial and industrial
do
For purchasing or carrying securities^"" "do
To nonbank financial institutions
do
Real estate loans
do
Other loans.. ,
do
270,545
110,047
9,433
28, 052
55, 359
88, 770
304,318 298,518 304,318 292, 477 289, 393 288, 473
131,875 129,798 131,875 126, 850 125, 957 125, 960
6,819
7,713
7,415
7,713
6,816
6,097
33, 076 31,874 33,076 30, 757 30, 180 29, 904
60, 442 60,116 60, 442 60, 095 59, 739 59, 474
90, 388 86,982 90,388 85, 009 84, 298 86, 254
285,524 283,098 284,614 280, 762
125,349 122.801 122,326 120,611
6,350
6,842
5,597
7,326
29, 549 29, 409 29, 978 29, 157
59, 385 59, 273 59, 209 59, 059
81,851 82, 124 83, 864 80, 820
279,313
118,946
6,530
29,164
58,967
82,680
Demand, total 9
Individuals, partnerships, and corp
State and local governments...
U.S. Government
_
Domestic commercial banks
Investments, total
U.S. Government securities, total...
Notes and bonds..
Other securities
do
do
do
do
86,982
86, 825 83,705 86,825 84, 052
25,461
23, 931 21, 951 23,931 23,011
19,412 19, 197 19,412 19,619
19,932
62, 894 61,754 62,894 61, 041
61,523
r
l
Revised.
v Preliminary.
Average for Dec
§Insured uneinployme nt (all programs) data include claims filed under extended du ration prc>visions ol regular State laifis:
amounts paid under these programs are excluded frorja State benefits pak1 data,
AInsu red
unemployment as % of average covered employme nt in a 12 -month p eriod.
9 Inclu des
data not shown separately. tfFor demand deposit s, the tenn "adjust 3d" deno tes dema nd
deposits other than domestic commercial bank anc I U.S. Gc>vermnen1 , less cash items in
212-633 O - 76 - S-3
281, 768 277, 957 '282,104 286, 743
119,751 118, 190 '119,300 120, 984
6,605 ' 8, 206 9, 169
7,040
29, 022 27, 312 ' 27,310 27, 12.5
59, 282 59, 502 ' 59,482 59, 744
84, 254 82, 267 ' 84,525 88, 161
95, 413 ' 98,269 100, 839
35, 010 ' 37,859 40, 434
25, 988 ' 26,580 26, 627
60, 405 ' 60,410 60, 405
proces s of coll ection; fc r loans, exclusiv 2 of loan s to and Federal funds tr ansactioiis with
domes tic comnnercial b*mks and after decluction o f valuati an reserv es (indiv idual loa n items
O Total SMSA's .nclude
de duction of valuat ion reser ves).
are sh own gro ss; i.e., )efore
I
<I Includeis Bostoii, PhiladLelphia,
some cities an d counti es not d esignatec1 as SMS3A's.
Chica go, Detr Mt, San J"'rancisco -OaklamI, and Lc)s Angele s-Long E each.
85, 200
24, 095
20, 004
61, 105
88, 743
27, 855
23, Oil
60, 888
88, 861
28, 524
23, 525
60, 337
89, 863
30, 163
24, 367
59, 700
92, 200
32, 021
24, 935
60, 179
92, 547
32, 160
24, 764
60, 387
94,303
34,288
25,239
60,405
95, 624
35,316
25, 243
60, 308
January 1976
SURVEY OF CURKENT BUSINESS
S-18
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
Nov.
Annual
1975
1974
1974
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Sept.
Aug.
Oct.
Nov.
Dec.
FINANCE—Continued
BANKING- Continued
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates) , seas, adj.rf
Total loans and investments©
_ bil. $
LoansO
do
U.S Government securities
do
Other securities
_.do
687.0
498.2
48.7
140.1
689.3
500.7
48.8
139.8
691.0
497.6
53.3
140.1
694.7
496.4
58.7
139.6
696.1
492.4
64.4
139.3
698.3
489.6
68.8
139.9
698.8
484.5
73.0
141.3
702.1
485.8
74.0
142.3
707.4
486.6
77.9
142.9
706.1
486.9
76.3
142.9
715.0
494.1
75.1
145.8
721.3
498.0
76.3
147.0
630.3
447.3
52.8
130.2
« 687. 0
« 498. 2
48.7
140.1
692.5
503.8
49.1
139.6
8.30
8.06
8.65
11.28
11.12
11.83
11.64
11.35
12.22
9.94
9.61
10.31
8.16
7.88
8.37
8.22
8.00
8.43
8.29
7.99
8.53
8.29
8.34
8.30
8.26
11.27
11.01
11.07
11. 15
11.66
11.52
11.56
11.48
9.87
10.24
10 01
9 99
8.00
8.70
8.34
8.33
8.12
8.41
8.28
8.45
8.15
8.70
8.37
8 67
7.50
7.75
8.00
7.75
7.25
6.75
6.25
6.25
6.00
6.00
6.00
6.00
6.00
6.00
6.00
17.10
i 8.82
9.22
9.29
9.26
9.14
8.84
8.48
8.25
7.92
7.71
7.62
7.59
7.62
7.62
Home mortgage rates (conventional 1st mortgages):
New home purchase (U.S. avg.)
percent.. 137.95
i 3 8. 01
Existing home purchase (U.S. avg.)
do
18.92
19.02
9.27
9.58
9.37
9.60
9.33
9.53
9.12
9.40
9.06
9.28
8.96
9.11
8.90
9.04
8.96
9.05
8.89
9.08
8.89
9.13
8.94
9.13
9.01
'9.17
9.01
P9.30
Money and interest rates: §
Dank rates on short-term business loans:
New York Citv
7
tb
j.
^
/ soui e
e le
o souuiwesi cenieib
do
•*"
ao
uo
Discount rate (N.Y.F.R. Bank), end of year or
month
__ percentFederal Intermediate credit bank loans
do
716.3
494.0
77.6
144.7
6.00
pQ.Ol
P9.29
Open market rates, New York City:
Bankers' acceptances (prime, 90 days)
do .
Commercial paper (prime, 4-6 months)__do
Finance co. paper placed directly, 3-6 mo.do
Stock Exchange call loans, going rate
do
»8.08
»8.15
»7.40
28.25
29.89
29.84
28.60
2 10. 98
9.03
8.81
8.50
10.81
9.19
8.98
8.50
10.50
7.54
7.30
7.31
10.11
6.35
6.33
6.24
9.02
6.22
6.06
6.00
8.09
6.15
6.15
5.97
7.66
5.76
5.82
5.74
7.42
5.70
5.79
5.53
7.15
6.40
6.44
6.01
7.30
6.74
6.70
6.39
7.84
6.83
6.86
6.53
8.06
6.28
6.48
6.43
8.22
5.79
5.91
5.79
7.76
5.72
5.97
5.86
7.63
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent.
3-5 year issues
do
» 7. 041
»6.92
r 2 7. 886
7.585
7.65
7.179
7.22
6.493
7.29
6.583
6.85
5.544
7.00
5.694
7.76
5.315
7.49
5.193
7.26
6.164
7.72
6.463
8.12
6.383
8.22
6.081
7.80
5.468
7.51
5.504
7.50
27.8!
CONSUMER CREDIT
(Short- and Intermediate-term)
Total outstanding, end of year or month
Installment credit, total
mil. $.. 180, 486
190,121 188, 084 190, 121 187, 080 185,381 184, 253 184, 344 185, 010 186, 099 187,211 188, 821 190, 069 190, 839 192, 995
156, 124 155, 166 156, 124 153,952 152, 712 151, 477 151, 271 151,610 152, 668 153, 930 155, 263 156,332 156, 989 159, 200
do
147,437
Automobile paper
Other consumer goods paper
Repair and modernization loans
Personal loans
do
do
do
do
51,130
47,530
7,352
41,425
51,689
52, 009
8,162
44, 264
By type of holder:
Financial institutions, total
Commercial banks
Finance companies
do
do
do
129,305
69, 495
37, 243
136,651
72,510
38, 925
Credit unions
Miscellaneous lenders
do
do
19,609
2,958
22,116
3,100
21,975
3,220
22, 116
3,100
21, 966
3,066
22, 089
3,124
22, 227
3,279
22,415
3,208
22, 674
3,243
23, 186
3,292
23, 507
3,330
24, 043
3,305
24, 510
3,370
24, 706
3,332
24, 934
3,379
do
do
18, 132
299
19, 473
286
18, 272
292
19, 473
286
18, 804
282
18, 154
280
17, 878
276
17, 768
275
17, 852
275
17,887
276
17, 920
280
18, 130
282
18, 326
283
18, 552
284
17,071
211
do
do
do
do
33,049
13, 241
11,753
1,488
33, 997
12,979
11,500
1,479
32, 918
12, 950
14, 464
1,486
33, 997
12, 979
11,500
1,479
33, 128
12. 675
11,210
1,465
32, 669
12, 560
11,078
1,482
32, 776
12, 542
11,018
1,524
33, 073
12, 526
11,021
1,505
33, 400
12, 443
10, 936
1, 507
33, 431
12, 470
10, 954
1,516
33, 281
12, 282
10,771
1,511
33, 558
12,362
10, 860
1,502
33, 737
12, 444
10, 926
1,518
38, 850
12, 405
10, 900
1,505
33, 794
12,419
10, 903
1,516
do
do
do
do
9,829
7,783
2,046
9,979
10, 134
8,012
2,122
10, 884
9,318
7,174
2,144
10, 650
10, 134
8,012
2,122
10, 884
9,315
7,162
2,153
11,138
8,542
6,468
2,074
11, 567
8, 485
6,452
2,033
11, 749
8,797
6,735
2,062
11, 750
9,341
7,268
2,037
11,616
9,449
7,361
2,088
11,512
9, 568
7,388
2,180
11,431
9,639
7,392
2,247
11, 557
9,707
7,424
2,283
11, 586
9,827
7,610
2,215
11, 620
9,571
7,404
2,167
11, 804
Installment credit extended and repaid:
Unadjusted:
Extended, total
Automobile paper
Other consumer goods paper
All other
do
do
do
do
165,083
46,453
66,859
51,771
166, 478
42, 756
71, 077
52, 645
12, 431
2,903
5,763
3,765
14, 271
2,807
7,454
4,010
11,561
2,807
5, 196
3, 538
11,031
3,281
4,339
3,411
12,411
3,515
5,144
3,752
13, 603
3,718
5,640
4,245
13, 799
3,797
5, 824
4,178
14,682
4,225
5,953
4,504
15, 259
4,434
6,100
4,725
14, 663
4,114
6,029
4,520
14, 791 ' 15, 029
4,096
4,358
6,308
6,260
4,387
4,433
14, 085
3,756
Repaid, total
Automobile paper
Other consumer goods paper
All other..
do
do
do
do
144, 978
39, 452
59,409
46,117
157, 791
42, 197
66, 598
48, 996
12, 593
3,314
5,348
3,931
13,313
3,443
5,846
4,024
13,733
3,549
6,063
4,121
12,271
3,344
5,345
3,582
13, 646
3,947
5,889
3,810
13, 809
3,810
5,784
4,215
13, 460
3,692
5,742
4,026
13, 624
3,763
5,763
4,098
13, 997
3,805
5,982
4,210
13, 330
3,659
5,605
4,066
13, 722 ' 14, 358
3,799
3,944
5,928
6,117
3,995
4,334
13, 275
3,562
Seasonally adjusted:
Extended, total _
Automobile paper
Other consumer goods paper
All other
_
do
do
do
do
12, 609
3,062
5,700
3,847
12, 702
3,205
5,798
3,699
12, 859
3,348
5,430
4,081
13, 465
3,856
5,561
4,048
12, 797
3,419
5,535
3,843
13, 181
3,454
5,584
4,143
13, 149
3,467
5,757
3,925
13, 959
3,752
5,976
4,231
14, 378
4,073
5,927
4,378
14, 358
3,932
6,077
4,349
14, 973
4,173
6, 342
4, 458
14, 877
4,218
Repaid, total
do
13.009 13, 516 13, 260
Automobile paper
do
3,423
3,534
3,668
Other consumer goods paper
do
5,561
6,037
5,549
All other
do
4.025
3.811
4.177
r
Revised.
P
Preliminary.
1
Average for year.
* Daily average.
' Beginning Jan. 1973, data reflect changes in
sampling and weighting.
< Beginning June 30, 1974, data revised to include one large mutual savings bank that merged with a nonmember commercial bank. Total loans and investments were increased by about $600 million of which $500 million were in loans and $100 million
in other securities." * Beginning Aug. 28,1974, loans sold outright to banks' affiliates reflect
13,228
3,605
5,632
3.991
13, 234
3,772
5,708
3.754
13, 423
3,719
5,632
4.072
13, 274
3,625
5,694
3.955
13,537
3,728
5,799
4.010
13, 509
3,690
5,860
3.959
13,858
3,820
5,826
4,212
13, 916 ' 14, 002
3,727 '3,800
5,978
6,090
4,319
4,099
Retail outlets, total
Automobile dealers
Nonlnstallment credit, total
Single-payment loans, total
Commercial banks
Other financial institutions
Charge accounts total
Retail outlets
Credit cards
Service credit
52,325
50, 401
8,260
44, 180
51, 689
52, 009
8,162
44, 264
50, 947
51,142
8,048
43,815
50, 884
50, 136
7,966
43, 726
50, 452
49, 391
7,925
43, 709
50, 360
49, 247
7,880
43, 784
50, 465
49, 329
7,908
43, 908
50, 927
49, 519
7,973
44, 249
51,556
49, 637
8,040
44, 697
52, Oil
50, 061
8,094
45, 097
52, 308
50, 441
8,136
45, 447
52, 722
50, 584
8,136
45, 547
53, 479
50, 426
8,361
46, 935
136,894 136, 651 135, 148 134, 558 133, 599 133,503 133, 758 134, 781 136, 010 137, 133 138, 006 138,437 143, 129
72, 896 72,510 71,776 71,151 70, 183 70, 134 70, 130 70, 475 70, 996 71, 445 71, 751 71, 988 75, 174
38, 803 38, 925 38, 340 38, 194 37, 910 37, 746 37,711 37, 828 38, 177 38, 340 38, 375 38,411 39, 642
1
r 14, 831
'4,189
6,148
4,471
14, 074
3,814
a new definition of the group of affiliates included, and a somewhat different group of reporting
banks; total loans were $500 million less than they would have been on the old basis. © A d justed to exclude interbank loans.
§ For bond yields, see p. S-21.
t Beginning Jan. 19o9,
monthly data have been revised to reflect new seasonal factors and adjustment to bench
marks for the latest call date (June 30,1973). Revisions are in the Nov. 1973 Federal Reserve
Bulletin.
January 1976
SURVEY OF CURRENT BUSINESS
1973
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
1975
1974
Nov.
Annual
S-19
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FINANCE—Continued
FEDERAL GOVERNMENT FINANCE
Budget receipts and outlays:
Receipts (net)
Outlays (net)
Budget surplus or deficit ( — )
mil. $
do
do
Budget financing total
Borrowing from the public
Reduction in cash balances
do
do
do
Gross amount of debt outstanding
Held by the public
do
do
232,225 i 264,932
246,526 i 268,392
-14,301 i -3,460
i 14,301
i 19, 275
-4,974
1
Receipts and expenditures (national income and
product accounts basis), qtrly. totals seas. adj.
at annual rates: t
Federal Government receipts, totalf
bll.$__
24, 946 25, 020
27, 442 28, 934
2 496 -3,914
i 3, 460
2,673
2,496
i 3, 009
4,500
5,077
1451 -1,827 -2, 581
3,914
3,667
247
19, 975
26,200
6 925
20, 134
27, 986
7 852
31,451 12, 793
29,601 28, 186
1,850 -15,394
6,225
7,852 -1,850
7,485
4, 535 11, 249
9,335
1,690 -3,397
15, 394
8,556
6,838
31,817 20, 197 '23,584
30,296 31,107 30,654
1,521 -10,910 7 070
28,615 19,316
29, 044 32, 425
-429 -13, 109
429
-1,521 10, 910 ' 7, 070
8,463
7,189
567
7,800
-2,088 ' 3, 110 ' -119 -8, 034
31, 451 12, 793
16,065 -1,630
5,093
1,174
28,615
13, 609
6,013
19, 316
10, 653
873
6,280
6,128
9,713
' 3, 087 ' 2, 849 2,712
5,206
2,783
30,296 31,107 ' 30,654
1,161 '1,038
'958
7,216 ' 7, 103 ' 7, 553
29, 044
1,201
6,877
32, 425
1,119
7,911
9,916
4,576
185
1,407
10,414
2,954
313
1,333
10, 574
4,756
312
1,515
31,817 '20,197 '23,584
9,615 10, 403
13,123
9,578
1,367
620
22, 292
10, 832
797
24,946
10, 799
6,268
25, 020
15, 487
1,188
19, 975
7,747
778
20, 134
4,134
6,579
7,748
2, 916
5,441
2,438
5,674
2,672
8,979
2,471
6,870
2,552
8,126
2,168
10, 588
2,661
6,431
2,685
i 246,526
110,028
i 73, 297
268,392
i 9, 767
i 77, 625
24, 965
489
7,389
27, 442
905
7,258
28, 934
1, 545
7,231
26, 200
768
7,044
27, 986
829
7,300
29, 601
1,029
6,989
28, 186
890
7,627
i 82,042
i 30, 959
13,311
i 11,968
i 93, 375
i 35, 993
i 3, 252
i 13, 337
9,132
2,852
297
1,338
9,437
2,678
288
1,633
9,789
3,244
298
1,397
9,217
2,739
283
1,581
9,728
2,921
315
1,402
10, 130
4, 459
287
1,505
9,680
2,802
301
1,462
10, 150
4,289
368
1,364
10, 152
2,885
310
1,449
' 257. 9
'288.4
r 293. 1
r 283. 6
r 250. 1
' 293. 3
do
do
do
do
114.7
42.5
21.2
79.4
131.4
45.9
21.7
89.4
137.4
49 q
21.7
91.1
137.6
32 1
22.3
91.7
99.3
35.5
23.5
91.9
130.5
43.4
25.5
93.9
Federal Government expenditures, totalf._do
' 264. 8
Personal tax and nontax receipts
Corporate profit tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance
13, 109
11, 743
1,356
i 468,426 i 486,247 496, 768 504, 031 505, 482 510, 747 520, 701 527, 744 539, 157 544, 131 549, 157 558, 637 564, 582 572,930
i 343,045 i 346,053 355, 770 360, 847 364, 514 369, 049 380, 298 387, 783 396, 339 396, 906 404, 707 411,895 420, 358 432, 102
Budget receipts by source and outlays by agency:
Receipts (net) total
mil $ i 232,225 i 264,932
1103,246 i 1118,952
Individual income taxes (net)
do
38, 620
Corporation income taxes (net)
do
i 36, 153
Social insurance taxes and contributions
(net)
mil $ 164,542 i 76, 780
i 28, 286 i 30, 582
Other
do
Outlays, total 9
do
Agriculture Department
do
Defense Department, military
do
Health, Education, and Welfare Department
mil. $..
Treasury Department
do
National Aeronautics and Space Adm
do
Veterans Administration
do
22, 292
24, 965
2 673
r
p 135. 2
* 25. 4
^96.4
300. 1
'318.6
-337.4
r 352. 3
'363.8
* 374. 2
102.0
73.4
111.7
77.4
118.2
80.5
119.4
81.4
119.2
82. 1
124.2
84.9
* 129. 8
95.8
40.6
18.2
117.7
43.9
21.0
127.8
45.4
22.0
139.2
50.1
22.4
150.5
52.8
152. 5
56.8
23.4
p 154. 5
»57. 1
v 25. 7
8.2
5.2
5.1
6.3
7.1
6.9
*7. 0
.0
-.5
.0
.0
.0
.0
p.O
-6.9
' -11.7
25 5
53 7
^-102.2
' -70.5
252. 44
11.40
117.72
81.37
75.35
263. 35
11.96
118. 57
86.23
79.91
262.25
11.87
119.25
85.48
79.19
263.35
11.96
118.57
86.23
79.91
266. 82
12.06
121. 99
86. 53
80.23
269. 72
12.16
124. 16
86.93
80.55
272. 14
12.34
125.51
87.19
80.77
273. 53
12.37
126.26
87.64
81.13
275. 82
12.46
127. 85
87.88
81.34
278. 34
12.56
129. 84
88.04
81.46
279. 35
12.81
130. 30
88.16
81.57
280. 48
11.79
130. 66
88.33
81.71
281. 85
13.15
131.52
88.45
81.80
284. 83
13.79
133. 24
88.66
81.98
286. 98
14.13
134. 50
88. 85
82. 16
7.69
20.20
2.07
11.99
8.33
22.86
2.00
13. 39
8.21
22.68
1.38
13.39
8.33
22.86
2.00
13.39
8.31
23. 06
1.59
13. 29
8.40
23.22
1.51
13.33
8.58
23. 39
1.69
13.44
8.78
23.46
1.48
13.53
8.84
23.57
1.50
13.71
8.99
23.68
1.49
13.75
9.06
23.79
1.40
13.83
9.11
23.92
1.46
13.99
9.01
24.05
1.49
13.98
9.36
24.17
1.46
14.16
9.46
24. 27
1.45
14.32
234, 191
162, 506
64, 461
7,224
298, 203
182, 287
108, 900
7,016
22,842 2 35,571
15, 109 16, 953
7,170 2 18,111
563
507
19, 470
12, 969
5,996
505
19,710
13, 292
5,852
566
23, 562
14, 851
8,113
598
23,113
15, 893
6,628
592
24, 002
15, 387
7, 932
683
23, 485
15, 623
7,250
612
21,914
15, 349
5,979
586
23, 353
14, 920
7,815
618
23, 390
15, 495
7,350
545
24, 510
17,111
6,791
608
22, 763
15, 273
6,884
608
Gold and silver:
Gold:
Monetary stock, U.S. (end of period)... mil. $.. 11,567
-1,538
Net release from earmark§
do
Exports
thous. $_ 145,965
Imports
do
356, 150
11,652
230
228, 480
396, 679
11,567
10
8,568
28, 542
11, 652 11, 635
1
27
11,476 120, 138
36, 702 219,648
11,621
19
66, 157
17,798
11,620
0
36,518
3,975
11,620
0
67, 117
27, 714
11,620
0
20, 753
16, 562
11, 620
15
38, 627
18, 359
11,618
0
27,117
18, 152
11,599
0
54, 603
12,916
11,599
8
10, 883
44, 954
11,599
44
16, 370
22, 266
11,599
6
1,073.6
75.0
1, 038. 3
- 70.9
84.9
5.8
73.9
5.8
77.7
5.5
76.4
5.6
78.5
5.4
80.6
5.9
79.4
6.6
81.9
5.1
82.8
6.1
82.8
84.4
thous. $„_ 27,637
do
268, 644
dol. per fine oz
2.558
81,651
501,521
4.708
8,177
43, 846
4.694
7,676
42, 601
4.391
4, 654
22, 058
4.192
9,965
26, 122
4.370
23, 644
36, 172
4.332
11, 173
28, 586
4.209
11, 954
31, 440
4.538
5,029
28, 368
4. 489
37, 820
22, 148
4.704
9,465
25, 222
4. 925
4,975
27, 980
4. 516
4,792
33, 014
4.329
5, 161
18, 289
4.332 "4." 085"
thous. fine oz... 43,566
3,135
5,600
52, 583 5,481
Revised.
*> Preliminary.
1 Data shown in 1973 and 1974 annilal colunins are for
fiscal years ending June 30 of the respective years' they inc lude revis ons not distribut ed
to months.
2 Includes $907 mil. Vets group life ins.
s Inchides $1,694 mil. Vet s group 1ife
3,834
Purchases of goods and services
National defense
do
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 $
Lessi Wage accruals less disbursements
Surplus or deficit( — )
do
do
r
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance cos
Government securities
Corporate securities
Mortgage loans total
Nonfarm
Real estate
Policy loans and premium notes
Cash
Other assets _
_
bil. $ _ .
do
do
do
do
do
do
do
do
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance):
Value, estimated total
mil $
Ordinary (incl. mass-marketed ord.)
do___
Group
do
Industriaf
do
MONETARY STATISTICS
Production :lf
South Africa
Canada
Silver:
Exports
Imports
Price at New York
Production:
United States
r
mil $
do
3,482
3,193 3,832
3,010
2,132
1,926
3,132
2,523
2,912
tData lave bee i revised back to
9 Incl udes dat a for Hen is not sh 3wn sepa rately.
ins.
§ 0 r i ncrease i i earmar ked gold
1946 ( see table 3.2 i n t h e Jan. 197 6 SURVE Y for earl er data) .
iJVahled at $3 % per fine ounce fr om Jan. 1972-Sep t. 1973. a u $42.22 tllereaftcr
(-).
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1973
1974
1974
Nov.
Annual
January 1976
1975
Dec.
Feb.
Jan.
Mar.
Apr.
May
June
July
78.4
79.8
81.2
81.5
81.9
81.7
287.3
283.7
291.1
71.2
219.9
293.1
71.9
221.1
290.9
292.8
4.1
3.3
Aug.
Sept.
Oct.
Nov.
Dec.
FINANCE—Continued
MONETARY STATISTICS— Continued
bil. $--
72.5
79.7
77.8
79.7
Money supply and related data (avg. of daily fig.) :©
Unadjusted for seasonal variation:
Total money supply
bil. $
Currency outside banks
do _.
Demand deposits
_-do_. Time deposits adjusted^
_
do
U.S. Government demand deposits^! _ ..do
263.8
59.3
204.4
345.3
7.1
278.7
285.1
67.9
217.3
411.7
3.4
283.6
284.4
Currency in circulation (end of period). .
Adjusted for seasonal variation:
Total money supply
Currency outside banks
Demand deposits
Time deposits adjusted^
64.9
213.8
397.0
5.6
do
do
do
- do _ _ .
Turnover of demand deposits except interbank and
U.S. Qovt., annual rates, seas, adjusted'.
Total (233 SMSA's) O-.ratioof dobitsto deposits..
New York SMSA
do ...
Total 232 SMSA's (except N.Y.)
do
0 other leading SMSA'sd"
do -.
226 other SMSA's
do
67.4
216.2
413.6
102.6
297.5
70.4
108.8
55.8
120.1
290.9
81.9
123.6
65.8
131.8
324.6
87.5
131.5
70.6
76.3
76.8
292.3
288.6
279.4
223.3
220.9
424.0
67.8
67.8
211.6
213.4
4.0
3.3
3.8
69.1
218.2
431.8
4.0
281.6
68.2
213.4
282.4
285.0
285.8
429.9
69.5
216.3
431.5
124 8
' 127. 5
69.0
416.8
4.9
67.9
216.5
419.4
128.0
312.8
86.6
131.8
69.3
r 85. 3
' 125. 4
67.3
~6s!s
426.5
430.5
68.7
213.7
426.0
' 127. 1
321.8
78.1
69.4
215.6
428.8
r
133. 1
r
343.2
320.4
'85.5
'81.9
r 126.
2
69.6
'117.0
67.8
70.0
213.7
434.5
436.7
4.1
288.5
293.0
293.5
432.9
71.1
221.9
437.1
71.3
222.1
439.1
70.2
218.3
r
438.3
' 124 4 r 126 2
328.6
331.0
82. 8 '80.0
'81.8
'81.6
' 114.3 ' 120. 1 ' 114. 2 '115.7
68.2
68.2
68.8
66.7
330.3
128. 9
333.9
r
72.2
218.7
71.9
220. 9
2.6
3.8
294.2
294.7
440.2
71.9
222.3
437.4
130 4
335.0
86.2
124.4
71.2
442.6
' 293.6
72.5
' 221. 1
' 446. 8
3.3
r
294.1
72.0
'72.5
222.7
221.5
440.7 ' 445. 8
128 8
330.7
85.1
123.8
70.0
84.5
82.3
134.0
364.0
83.5
118.7
69.8
' 298.8 p 304. 6
'73.9
75.1
224.8
229. 5
447. 7
451.5
4.1
'3.5
r
' 297.1 P 296. 4
'73.4
73.8
223.7
222.6
454.5
450.0
134.0
360.8
84.9
119.5
71.5
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade Comm.):
Net profit after taxes, all industries
.mil. $.. 248,259
2 3, 723
Food and kindred products
do
2831
Textile mill products
do
Lumber and wood products (except furniture)
mil $
22 1, 427
Paper and allied products
. _ do _
5, 670
Chemicals and allied products
do
58, 747
4,601
780
13,433
2,287
2 8 7, 759
Petroleum and coal products _
do
2 1, 266
Stone, clay, and glass products
do
21,343
Primary nonferrous metal
do
2 1, 695
Primary iron and steel
do
Fabricated metal products (except ordnance,
2 2, 207
machinery, and transport, equip.)
mil $
14,483
2,837
604
490
694
713
2 4, 936
2 3, 883
5,648
2, 940
1,330
562
1,417
537
1,641
637
1,553
578
2933
1,127
1,955
217
556
'377
'563
1, 856
345
380
2, 220
19, 467
5,282
5,114
4,668
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
2 4, 122
2 7, 079
2 17, 734
9,285
920
-66
12, 455
1,315
42
13, 208
1 561
195
511
1,513
374
1,487
429
1,721
451
1,707
3,714
186
290
815
1,859
-11
265
732
2,197
274
204
504
2,523
1,271
82
7,175
1,204
2, 035
3,149
r
18
-96
1, 167
r
4,904
447
113
425
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total
By type of security:
Bonds and notes, Corporate
Comrn on stock
Preferred stock
By type of issuer:
Corporate, total 9
Manufacturing
Extractive (mining)
Public utility. _.
_.
._
_
Transportation
Communication
Financial and real estate
Noncorporate, total 9
U.S. Government
State and municipal
32, 960
40, 009
3,932
3,483
5,523
4,957
5, 497
4,477
5,979
5,755
4,446
20, 853
31,532
3,346
3,033
4,729
3,853
4,432
3,153
4,182
4,376
3,376
do __
do. ..
7,648
3,375
4,017
300
93
301
152
354
235
449
173
644
253
899
347
984
346
775
230
459
196
mil. $..
_do
do. _.
do _
31,871
4,837
37, 842
10, 026
980
12, 831
3,734
3,409
1,683
40
962
1,633
23
624
5,214
1,848
188
1,269
4,474
5,322
1,675
59
1,957
2, 479
72
1,507
4,417
1,722
209
1,408
5,512
2, 479
159
1,548
5,380
2,303
132
1,479
4,031
1,090
302
1,019
3,934
6,850
1,014
336
87
433
14
175
838
23
932
914
23
124
571
38
317
637
59
563
163
281
413
409
186
362
643
254
263
1,044
22, 824
29, 041
2,245
2,540
2,536
2, 159
2,329
2,038
2,832
2,263
3,094
3,801
5,666
4,847
mil. $..
...do.-.
_._
State and municipal Issues (Bond Buyer):
Long-term
Short-term
_
1,061
10, 271
do
.do
do
4,902
8,096
do
do
do
67, 184
19, 057
22, 760
do
do
22, 953
24, 667
1,066
2,254
1,407
2,266
2,532
3,001
2,699
3,434
2,692
2,112
2,427
2,276 ' 2, 338
2,623 '2,066
5, 365
5,399
5,448
516
« 1,500
'472
1.455
1,691
1,377
5,140
5,446
519
1,790
557
1,710
2,050
1,828
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at brokers and banks, end of month, 1
total
mil. $_.
6, 382
4,836
4,994 4,836
4,934
3,980
i 5, 251
4,103
3, 980
At brokers
__.
do
4,086
891
856
856
At banks
...
do - 1 1,131
848
Other security credit at banks
- _ _ do.- Free credit balances at brokers:
411
410
U54
411
Margin accounts
do 410
1,424
1,424
1,447
Cash accounts
...... ... do
U.700
1,446
r
2
Revised.
v Preliminary.
1 End of year.
Beginning fourth quarter 1973, because of changes in method of consolidation (to minimize the effect of foreign operations of
multinational enterprises), data are not comparable with those for earlier periods. The effect
of the change can be assessed by comparing the data as originally
published for the fourth
3
quarter 1973 (June 1974 Survey) with the revised data.
Prior to fourth quarter 1973,
for
petroleum refining only; data are not comparable with those for earlier periods.
4
Beginning Jan. 1974, does not include noncorporate bonds and notes formerly included.
0Effective February 1974 SUVREY, data revised to reflect: Annual review of seasonal
5,099
4,269
5,164
5, 327
830
844
824
478
1,604
515
1,760
4,320
4,503
505
1,790
819
520
1,705
554
1.495
factors; regular benchmark adjustment; effect of changes in check collection procedures
(Regulation J); and adjustments to include new figures from internationally oriented banking institutions. Monthly revisions back to 1971 are in the Feb. 1974 Federal Reserve Bulletin.
*!jAt 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.
V Includes data not shown seoaratelv.
<= Corrected
SURVEY OF CURRENT BUSINESS
January 1976
1973
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1975
1974
1974
Annual
S-21
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FINANCE—Continued
SECURITY MARKETS— Continued
Bonds
Prices:
Standard & Poor's Corporation:
High prade corporate:
Compositec?
dol per $100 bond
Domestic municipal (15 bonds)
do
63.6
85.4
58.8
76.1
56 3
72 6
56 1
68 6
56 4
70 9
56 6
74.1
56 2
70.9
55 8
69.4
56 6
69.6
56.7
69.8
56.6
68.5
55.6
68.3
55.8
66.0
56.0
66.0
56.3
66.2
56.1
67.1
62.80
57.47
57 80
58 96
59 70
60.27
59.33
57. 05
57.40
58.33
58.09
56.84
55.23
55.23
55.77
56.03
8,294.99 6,456.77
9 420.76 8, 120. 18
601 54
749 go
524 28
712 46
755 15 841 10 728 19
932 49 1 013 36 875 22
790 03
891 57
753 75
892. 55
810. 14
919. 28
808 39
938. 49
634. 83
709. 89
7 865.38 6, 193. 81
8 736. 82 7, 740. 56
584 71
715 25
510 59
687 44
731 01
892 61
813 00
967 30
706 78
840 85
768 72
858 08
728 55
855 32
783. 46
883. 08
784. 10
904. 23
621. 81
690. 36
New York Stock Exchange, exclusive of some
stopped sales, face value, total
mil $ 4 424 67 4, 052. 12
369 31
389 16
490 14
482 88
454 22
473 81
449 34
487 41
478. 39
343. 37
340 74
416. 62
341.97
419. 45
9.60
9.56
9.55
9.33
9.28
9.49
9.55
9.55
U.S. Treasury bonds, taxable^
do. -
Sales:
Total, excl. U.S. Government bonds (SEC):
All registered exchanges:
Market value
mil $
Face value
do
New York Stock Exchange:
Market value
Face value. _
do
do
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa
A..
_.
.
Baa
By group:
Industrials
Public utilities .
Railroads
... __ _ _
percent..
7.80
8.98
do
do
.do __
do
7 44
7 66
7.84
8 24
8.57
8.67
9.16
9.50
8
9
9
10
do _
do _.
_do
7 60
7 83
8 12
8.78
9.27
8.98
9 27
10 12
9 58
9 °3
10 02
9 59
9 19
10 10
9 52
9 01
9 83
9 32
9 05
9 67
9.25
.
89
13
87
50
8
9
9
10
89
03
75
55
8
8
9
10
83
99
75
62
8
8
9
10
62
81
47
43
8
8
9
10
67
80
33
29
9.45
9.43
9.51
90
04
79
46
8 77
8 94
9.67
10 40
8 84
8.94
9.63
10 33
8.95
9.03
9.70
10.35
9 30
9 88
9 39
9 37
9 93
9 49
9 29
9 81
9.40
9 26
9 81
9.37
8
Q
9
10
95
02
63
34
8
9
9
10
9.51
9.44
9.45
95
10
74
38
8.86
9.06
9.74
10.37
8.78
8.97
9.67
10.33
8.79
8.99
9.68
10.35
9.29
9.93
9.41
9 35
9 gg
9 42
9.32
9.94
9.40
9.27
9.83
9.36
9.26
9.87
9.37
8
9
9
10
Domestic municipal:
Bond Buyer (20 bonds'*
Standard & Poor's Corp. (15 bonds)
do
do
5 22
5 18
6.26
6.09
6 71
6 47
7 08
6 93
6 54
6 66
6 55
6 30
6 93
6 61
6 95
6 83
7 09
6 81
6 96
6.76
7 09
6.94
7.18
7.02
7 67
7 23
7.36
7.22
'•7. 39
7.21
7.29
7.06
U.S. Treasury bonds, taxable©
do
6 30
••6.99
6 93
6 78
6 68
6 61
6 73
7 03
6 99
6 86
6 89
7.06
7 29
7.29
7.21
7.17
9.58
10.46
5.01
4.03
7.53
12.13
10.63
11.82
4.83
4.27
8.09
13.25
10 47
11 51
4.97
4 14
8*50
13 56
10 47
11.49
4.97
4 14
8.50
13.56
m
285 44
356. 26
71.21
79.72
220. 35
270. 42
48.26
77. 16
3.36
2.94
7.04
5.06
3.05
3.45
4.82
4.37
10.01
5.53
4.01
5.14
26.00
7.55
7.60
27.69
7.63
9.81
7.23
8.24
8.60
8.78
8.33
8.07
8.04
8.27
8.51
8.34
8.24
8.41
8.56
8.58
8.50
8.46
286. 73
923. 88
103. 39
180. 55
237. 33
759. 37
75.84
164. 05
206. 86
642. 10
68.54
149. 92
194. 39
596. 50
67.05
141. 10
215. 31
659. 09
77. 46
153. 06
231.85
724. 89
81.02
159. 91
240. 18
765. 06
78. 90
162. 28
244. 32
790. 93
75.77
166. 35
254. 71
836. 56
77.29
169. 69
259. 00
845. 70
83.87
168. 40
260. 30
856. 28
82.68
167. 98
246. 22
815. 51
77. 92
156. 32
246. 02
818. 28
77.32
155. 11
253. 38
831. 26
80.99
164. 17
259. 28
855.51
82.94
170. 59
256. 42
840. 80
81.60
166.84
Standard & Poor's Corporation:^
Industrial, public utility, and railroad:
Combined index (500 stocks)
1941-43 = 10.. 107. 43
120.44
Industrial, total (425 stocks) 9
--do
118.57
Capital goods (110 stocks).. _ _ ,do .
107. 14
Consumers' goods (184 stocks)
do
53.47
Public utility (60 stocks)
do
38.01
Railroad (15 stocks)
.. .do .
82.84
71.74
67.07
72.56
80.10
83.78
84.72
90.10
92.40
92.49
85.71
84.67
88.57
90.07
88.70
92.91
92.84
78.08
38.91
37.29
80.17
79.35
65.84
34.45
35.95
74.80
74.06
62.51
32.85
34.81
80. 50
77.10
67.91
38.19
37.31
89.29
88.50
75.06
40.37
37.80
93. 90
92.78
80.42
39. 55
38.35
95.27
96.76
80.75
38.19
38.55
101. 56
101.96
85.15
39.69
38.90
103. 68
101. 15
85. 98
43.67
38.94
103. 84
101.15
86.58
43.67
38.04
96.21
93.05
78. 29
40.61
35.13
94.96
93.61
77.25
40.53
34.93
99.29
95.77
83.07
42. 59
36.92
100. 86
97.35
88.01
43.77
37.81
99. 31
96. 41
85.66
43. 25
37.07
54.16
83.89
47.51
70.52
44.43
65.05
50.58
73. 52
53.46
76.33
52.58
76.76
54. 75
79.64
57.17
83.76
57.77
87.19
58.13
90.44
51.33
83.01
46.72
78.64
44.84
79. 21
45.56
80.01
44.87
77.73
92.70
88.23
79.71
96.72
95.98
85.19
86.29
84.76
84.98
94.63
assumed 3 percent 20-year bond.
O For bonds due or callable in 10 years or more.
9 Includes data not shown separately.
93. 75
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
Property and casualty Insurance cos _
do
Price per share, end of mo , composite
Industrials
Public utilities
_
Railroads.
do
do
do
do
Yields, composite.
_ . _ _ percent
Industrials _
do
Public utilities .
.
do
Railroads
__
_ _ _
do
N.Y. banks
.
do
Property and casualty Insurance cos
do
Earnings per share (Indust., qtrly. at ann. rate;
pub. utll. and RR., for 12 mo. ending each qtr.j:
Public utilities
Railroads
do
do
Dividend yields, preferred stocks, 10 high-grade
(Standard & Poor's Corp.) _
percent
Prices:
Dow- Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks)
Banks:
New York City (9 stocks) ._
Outside New York City (16 stocks)
do
_do
.
64.44
104.34
10
11
4
4
8
13
72
8?
83
47
14
51
188 45
10 74
1 1 84
4 83
4 58
8 30
13 51
1 S^i
fi8
996 96
O99 f7\
41 67
74 09
41 17
5
5
11
6
4
5
11 73
6 21
69
9
1
5^
03
46
47
70 70
5 78
A 8fi
5
Q9
10
11
4
4
8
13
82
93
96
58
30
51
10
11
4
4
8
13
52
47
96
58
30
56
208
250
49
79
49
16
60
95
220
267
49
81
°7
46
13
64
5
4
10
5
3
5
19
77
00
73
959
3
4
4
10
5
4
5
78
29
10
61
15
20
10
11
4
4
8
13
49
43
96
58
50
56
10
11
4
4
8
13
42
34
96
46
50
56
10
11
4
4
8
13
49
52
96
42
50
56
15
47
80
90
934
290
46
89
59
69
99
55
244
304
49
80
75
66
62
80
251
31°
55
82
22
67
06
96
234
291
51
76
44
42
58
11
230 57
288 52
51.33
74 34
cn
4 69
4 17
10 38
5.78
4 34
5 03
4
3
10
5
3
4
47
93
56
55
99
94
4
3
10
5
3
4
26
72
00
52
96
35
4
3
9
5
3
4
18
68
01
33
67
20
4
3
9
5
4
4
47
95
64
44
06
63
4.47
3 98
9 68
5 57
4 36
4 83
m
994
975
47
79
18.84
7.70
8.80
28 31
7 70
9 81
81.68
77.71
81.06
Property-liability insurance (16 stocks)__do
84.15
119.00
••Revised.
*> Preliminary.
'Estimate.
1 Series discontinued by Moody's.
d" Number of issues represents number currently used; the change in number does not
affect continuity of the series.
^ Prices are derived from average yields on basis of an
10 59
11 48
4 96
4 58
8 50
13.56
(i)
22 91
7.80
7.45
SUKVEY OF CUKEENT BUSINESS
S-22
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1975
1974
! 1974
Annual
January 1976
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FINANCE—Continued
SECURITY MARKETS— Continued
Stocks— Continued
Prices— Continued
New York Stock Exchange common stock indexes:
Composite
_
12/31/65=50..
Industrial
do
Transportation
do
Utility
do
Finance
do
57.42
63.08
37.74
37.69
70.12
Sales:
Total on all registered exchanges (SEC):
Market value
mil. $.- 177,878
5,723
Shares sold
millions..
On New York Stock Exchange:
146,451
Market value
mil. $..
4,337
Shares sold (cleared or settled)
millions..
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
4,053
(sales effected)
millions-Shares listed, N.Y. Stock Exchange, end of period:
721.01
Market value all listed shares
bil. $
Number of shares listed
.
_
.. -millions. . 20, 967
43.84
48.08
31.89
37.98
41.24
28.40
27.60
35.41
38.32
26.02
38.56
41.29
28.12
41.89
39.27
29.55
44.85
118,252
4,839
9,445
7,904
448
406
99, 178
7,973
6,693
366
3,518
29.79
49.67
3,822
511. 06
21, 737
26.18
42.48
46.00
30.21
31.31
44.35
48.63
31.62
31.04
49.22
45. 71
50 71
50.06
32.38
32.79
52.20
49.54
54.96
32.90
' 32. 98
52.51
31.02
46.55
14, 498
563
15, 982
612
14, 797
590
16, 107
625
11, 155
405
44.91
49.74
31.70
30.01
47.35
47.76
53.22
32.28
31.02
54.61
30.08
44.97
50.05
29.46
30.65
43.38
46.87
52.26
30.79
47.64
46.78
52.91
51.89
31.61
44.36
45.10
32.75
43.86
366
319
349
47.59
47.83
9,801
488
14, 148
609
13,810
8,170
388
12, 185
501
11,767
321
473
12, 423
461
13, 602
499
12, 627
479
13, 504
494
9,513
327
287
315
433
424
454
447
458
447
442
281
275
524. 52
511.06
579. 31
21, 773
610.01
21,795
626. 61
654. 66
21, 899
687. 94 723. 00
678. 07
22, 094
660. 95
22, 143
636. 87
22, 193
21,605
21, 737
585
21,822
21,938 22, 016
31.87
32.09
32.99
672. 11 692, 215 685, 110
22, 245 22, 382 22, 478
FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
mil. $.. 71,338.8 98,507.2 9,396.8 8,743.3 9, 202. 8 8, 545. 5 9, 466. 5 9, 074. 4 8, 952. 8 8,691.0 8, 265. 4 8, 480. 6 8, 424. 4 9, 749. 7 9,526.7
70, 823. 2 97,908.1 9,342.6 8,702.6 9, 123. 9 8, 499. 8 9, 437. 6 9,012.7 8,901.8 8, 630. 7 8, 236. 0 8, 470. 8 8, 398. 8 9, 718. 1 9,513.7
8,972.9 8,862.1 9,411.9 8, 789. 0 8,715.9 8, 569. 6 8,145.1 8, 691. 5 8, 884. 6 8, 996. 2 9, 165. 0 9, 288. 1 9, 409. 3
do
Exports (mdse.), incl. reexports, totald"
Seasonally adjusted
Asia
Australia and Oceania
Europe
_
_
_ _
Northern North America
Southern North America
South America
By leading countries:
Africa:
Egypt
Republic of South Africa
Asia; Australia and Oceania:
Australia, Including New Guinea
India
Pakistan
Malaysia
Indonesia.
Philippines
Japan
--
Europe:
France.
444.4
347.2
427.1
449.5 423.2
396.6
382.5
470.7
2, 305. 8 3, 659. 4 343.5 370.1 396.6 368.4
18, 418. 7 25, 784. 4 2, 431. 7 2, 292. 2 2, 596. 2 2,182.7 2, 378. 5 2, 260. 6 2, 317. 9 2, 435. 0 2, 300. 1 2, 388. 6 2, 287. 9 2, 369. 8
do
213.6
172.7
192.8
175.6
194.4
191.6
197.9
211.3
163.2
182.9
1, 743. 9 2, 696. 8 231.5 240.9
do
do. . 23, 160. 6 30, 070. 1 2, 925. 6 2, 595. 0 3, 063. 6 2, 857. 1 3, C92. 5 2, 685. 7 2, 573. 7 2. 269. 7 2, 327. 1 2, 454. 7 2, 400. 2 2, 985. 5
15,118.0 19, 937. 7 , 849. 6 1, 688. 7 , 586. 8 1,623.6 1, 819. 2 1, 979. 5 1,968.0 1,891.7 1, 625. 0 1, 620. 2 1, 848. 6 2, 084. 7
do
722.5
679.1
680.4
707.4
633.5
725.5
720.7
665.0
621.6
742.8
5, 057. 4 7, 949. 0
671.3
713.7
do
815.9
664.0
674.0
685.6
789.3
786.3 704.3 719.9
4, 857. 6 7, 857. 3
835.1
731.7
725.1
799.0
do
1, 159. 9
55.4
104.2
66.6
99.5
59.2
100.9
64.8
92.9
78.9
126.9
52.5
95.7
82.0
104.8
47.8
108.6
78.0
119.3
44.0
102.8
35.1
90.4
43.0
117.9
2,172.5
759.8
397.6
377.2
184.3
77.2
18.9
30.1
173.3
96.6
25.2
29.3
128.4
143.8
50.5
28.4
137.0
91.7
25.9
26.7
143.6
81.0
16.6
25.5
143.6
86.9
49.9
29.1
175.4
97.5
29.5
27.0
156.0
122.3
38.9
31.1
134.2
109.5
21.3
31.0
159.7
119.7
32.8
42.9
153.6
116.0
22.0
57.4
151.7
109 1
28 2
36 ?.
69.0
442.1
530. 5
do
495. 4
746.7
do
do__ _ 8,313.1 10, 678. 6 1, 093'. 7
47.1
51.9
899.5
66.7
70.3
956.9
37.8
64.5
833.6
76.2
72.6
827.4
77.8
57.5
757.5
92.7
64.5
785.8
78.0
71.7
783.9
78.7
74.7
773.6
62.0
67.2
793.2
55.8
72.3
724.9
61.4
67.9
752.9
263.8
257.7
280.8
315.8
.3
494.9
274.2
1.1
429.8
259.1
1.2
410.4
228.7
.7
347.7
223.3
3.3
355.9
213.4
.4
387.9
214.5
.8
389.5
251.5
5.5
436.5
284.1
87.0
462.5
230.6
77.9
368.5
257.8
92.7
357.2
231 4
76.6
330.1
228.3
120.6
360.7
255.1
151.1
325.8
194.6
147.6
341.0
220.3
305.1
359.6
do
do
225.4
746.3
do
do
do
do
1,449.1
526. 7
238.9
157.4
West Germany
do
2, 262. 9
28.0
3, 755. 7
Italy
Union of Soviet Socialist Republics
United Kingdom
do
do
do
2, 118. 6
1, 194. 1
3, 563. 6
North and South America:
Canada
Latin American Republics, total 9
Argentina..
Brazil
Chile
Colombla
Mexico
Venezuela
Exports of U.S. merchandise, totaled ..
Excluding military grant-aid
Agricultural products total
_do
455.2
2, 941. 5
20.9
4, 985. 6
270.3
507.7
409^7
2, 751. 6
260.5
249.1
105.6
373. 5
608.8
4, 573. 5
1.7
46.9
481.7
2
1.5
518.8
236.0
95.3
472.2
.3
411.7
291.2
93.8
429.4
15,104.0 19, 932. 0 1, 849. 4 1, 688. 5 1, 585. 9 1, 623. 4 1, 819. 0 1, 979. 4 1, 964. 7 1, 889. 2 1, 624. 7 1,620.0 1, 848. 5 2, 084. 3
8, 921. 3 14, 503. 5 1,359.8 1, 432. 2 1, 264. 9 1,201.5 1, 382. 7 1, 382. 4 1,277.3 1,344.6 1, 266. 1 1,285.1 1,185.2 1,412.5
do
39.9
42.4
29.0
37.3
80.7
41.2
50.7
76.1
69.8
66.4
75.3
62.1
451.3
do_ .
596.6
299.9
243.8
255.3 269.3
222.9
265. 5
291.3
205.2
264.6
1 916 2 3, 088. 8
234.5
283.1
197.6
do
49.3
26.2
28.9
45.4
40 6
78.3
41.8
248.4
56.4
57.7
60.3
43.9
49.1
452.2
do.__.
54.6
41.6
60.5
55.3
60 9
50.5
60.4
50.5
60.9
45.2
54.5
436.5
659.4
60.3
do
419.2
385.1 451.4
431.6
442.0 400.3 389.2
448.5 417.2
433.8 464.0
do ... 2, 937. 4 4, 855. 3 455.2
206.2
181.4
177.3
198.7
175.0
191.0
209.3
1, 032. 5 1, 768. 0
181.9
172.4
188.9
183.1
193.3
do
do
do
do
do
70, 246. 0
69, 730. 4
17, 680. 6
52, 565. 4
97,144.2
96,545.0
21,996.1
75,147.4
9,277.8
9,223.6
2,352.5
6,926.0
8,632.8
8,502.1
2,119.5
6,513.5
9, 027. 5
8, 948. 7
2, 459. 1
6, 568. 4
8,414.6 9, 324. 1
8, 368. 9 9, 295. 2
1, 920. 3 1,911.1
6, 494. 3 7, 413. 1
8, 945. 9
8, 884. 1
1,757.6
7, 188. 2
8,837.3
8, 786. 3
1, 496. 4
7, 340. 9
8,551.1
8, 490. 8
1.389.7
7, 161. 4
8, 159. 0
8, 129. 6
1, 532. 4
6, 626. 6
8, 387. 0
8, 377. 1
1,600.7
6, 786. 2
8, 302. 7
8, 277. 2
1, 609. 9
6, 692. 8
9, 633. 2
9, 601. 7
2,081.9
7,551.3
By commodity groups and principal commodities:
6 1,526.8
Food and live animals 9
mil. $.. 11, 930. 2 13,985.9 1, 444. 1 1, 324. 8 1, 643. 7 1,338.2 1, 276. 6 1,219.6 1, 028. 4 1,060.3 1,114.7 1,182.6 1, 244. 3 1, 475.
50.8
45.7
47.0
49.7
444.2
39.9
41.7
27.2
380.7
33.0
28.9
32.6
43.3
34.9
Meats and preparations (incl. poultry).. do
933.3 1,114.4
809.0
876.7
8, 495. 8 10, 330. 9 1, 103. 9 1,041.1 1,333.9 1,047.5
711.0
743.8
976.6
884.2
150.8
128.6
105.7
104.7
71.5
1, COS. 1 1, 247. 4
79.8
140.7
98.1
122. 9
120.1
141.1
86.6
101.6
Beverages and tobacco
do
924.2 1, 026. 0
Crude materials, inedible, exc. fuels 9
do
8, 380. 2 10,934.4 1, 084. 7
120.2
104.7
Cotton, raw, excl. linters and waste
do. .
80.3
929.0 1, 334. 7
378.4
504.8 320.9
Soybeans, exc. canned or prepared
do. . 2, 762. 2 3, 537. 4
130.2
123.5
123.5
Metal ores, concentrates, and scrap
do
1, 080. 8 1,475.0
r
c
Revised.
Corrected.
d" Data may not equal the sum of the geographic regions, or co mmodity groups a id princi pal
commodities, because of revisions to the totals not reflected i n the coniponent terns; th ese
revisions will be shown later in biennial editions o f BUSINEJ33 STATIST'ics. Alsc , beginning
1973, the totals reflect relatively small amounts of trad e with unidentified countrie 5, not sho wn
separately.
9 Includes data not shown separately.
859.5
876.2
693.5
775. 5
757.6
765.8 668 4
892.3 810.7
59.8
67.6
86.0
90.8
95.2
85.9
88.2
90.8
354.
9
145.2
200.4
185.9
83.8
155.6
246.5
273.7
236. 0
99.8
106.4
112.6
111.7
142.2
130.6
122.4
107.4
113.5
The index
NO TE FO1* PAGE S-25: * New seri es. Soun;e: U.S. Dept. of Labor, BLS.
priced were
measLires chan ges in p rices of s hipping goods b?j rail in the U.S (shipm Biits
i
quantity,
shiplanges
i
3ted
by
c
not
affe
e)
and
is
select*id from I CC railr Dad way*Mil samp
to 1969 (and detail fc r 11 coirimodity gro ups"> ,
t
ping t erms, ty pes of se rvice, etc\ Data >ack
EW
(BLS^
June
OR
REV
HLY
LAB
in
MONT
conce pts, mettlods, uses, and li nutation 3 appear
839.0
100.4
1975.
January 1976
SURVEY OF CUERENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1974
1974
Annual
S-23
Nov.
1975
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
404.1
288.9
98.1
328.4
233.9
79.7
318.5
224.2
81.1
457.9
Dec.
FOREIGN TRADE OF THE UNITED STATES— Continued
VALUE OF EXPORTS— Continued
Exports of U.S. merchandise— Continued
By commodity groups and principal commodities—Continued
Mineral fuels, lubricants, etc. 9.
mil. $
Coal and related products
do
Petroleum and products
do
1,670.5
1,052.0
518.0
3,443.9
2, 487. 2
791.7
464.4
385.1
66.1
251.9
169.6
67.4
357.1
265. 2
72.4
337.4
256.5
67.2
399.6
295.6
73.9
391.4
298.7
68.4
436.5
339.2
84.7
406.2
310.1
83.3
310.3
220.0
74.8
Animal and vegetable oils, fats, waxes
do
684.0
1, 423. 3
118.5
166.3
140.9
104.5
120.8
73.7
88.9
57.9
66.3
43.9
43.5
56.9
77.7
Chemicals
do
5,749.4
8,819.2
729.3
774.0
820.0
669.9
786.8
737.2
707.3
718.7
704.6
711.1
682.2
730.2
661.6
do
do
do
do
7,161.6
1,224. 8
1, 300. 8
950.3
11,165.8
1, 795. 4
2, 560. 3
1, 300. 4
935.7
135.2
198.2
104.7
934.2
124.8
274.3
99.1
911.2
122.0
230.3
98.1
847.4
110.1
214.6
92.2
949.6
134.2
243.0
86.1
949.3
139.6
219.5
104.0
954.2
136.0
230.1
98.0
899.2
129.4
225.9
87.5
862.3
122.9
199.5
71.2
875.2
132.8
199.1
79.6
880.1
142.8
185.9
84.7
980.4
162.0
173.5
92 3
914.3
..
Manufactured goods 9 H
Textiles
Iron and steel
Nonferrous base metals
_
Machinery and transport equipment, total
mil. $.. 27,869.2
Machinery, total9
Agricultural
.
Metalworking
Construction, excav. and mining
Electrical
Transport equipment, total..
Motor vehicles and parts. _
do
do
do
do
do
do
do
Miscellaneous manufactured articles
do
Commodities not classified .
do
38,188.6 3, 652. 4 3, 459. 9 3,312.5 3, 536. 6 4,051.8 3, 905. 1 3, 990. 3 3, 938. 0 3, 577. 9 3, 550. 7 3, 618. 9 4, 257. 8 3, 946. 7
17.130.9 23, 687. 8 2, 238. 5 2, 083. 1 2, 228. 3 2, 113. 7 2, 452. 7 2, 494. 9 2, 479. 9 2, 423. 1 2, 287. 4 2, 304. 6 2,202.9 2 587 9
987.1 1, 398. 4
198.5
189.9
142.6
150.1
135. 0
186.6
132.9
174.7
139.3
152.4
206.1 200.3
488.8
73.5
75.8
79 4
63.8
636.5
72 4
73.6
60.6
78.2
85.4
73.3
59.8
74.8
2,094. 7 3,112.6
421.2
413.8
374.4
397.5
429 6
315.6
383.8
319.3
325.3
343.9
413.1 419.8
5, 032. 3 7, 019. 2
624.0
599.2
596.6
664.2
635. 4
623.8
706.4
558.1
650.0
615.7
640.8
648.8
567.9
10, 738. 3 14, 500. 7 1,413.9 1, 376. 8 1,084.2 1,422.9 1,599.1 1,410.2 1, 510. 4 1,514.9 1, 290. 5 1, 246. 1 1,416.0 1, 669. 8 1,532.8
6,030. 0 7, 878. 1 791. 7
893.4
743.7
728.2
893.0
989
7
697.3
843.9
677.0
890.8
658.3
854.5
3, 950. 7 5, 349. 1 467.9
481.0
454.6
460.0
471.8
409.0
488.6
482.3 483.5
460.8
530.9
454.6
426.4
1,842.0
2, 586. 6
239.6
247.7
238.6
228.5
237.8
274.9
284.2
241.4
239.1
278.4
246.0
278.2
353.3
VALUE OF IMPORTS O
General imports, total d* .
Seasonally adjusted
By geographic regions:
Africa
Asia.
Australia and Oceania
Europe
Northern North America,
Southern North America
South America
.
By leading countries:
Africa:
Egypt
..
Republic of South Africa
do
do
69,475.7 100,251.0 8,885.4
8,973.3
do
do
do
Ido.I"
2,582. 9
18,156.9
1,561.5
19,812.3
do
do
do
17.724.8
5.084.8
4,512.4
d0
do
25. 9
376.9
9,139.2 9,822.5 7,162.7 7, 455. 9 8,181.1 7,358.0 7,271.3 7, 915. 4 7, 513. 6 8,161.6 8,511.9 7,910.7
9,256.8 9,622.4 7,872.0 7, 335. 6 8, 012. 8 7, 093. 4 6, 954. 2 7, 907. 5 7, 961. 0 8, 188. 6 8,212.2 8, 299. 1
681.6
474.5
686.4
869.2
6, 617. 6
580.5
586.0
567.2
579.9
710.7
687.4
907.0
760.1
27,344.9 2, 417. 8 2, 544. 1 2, 808. 3 1,995.9 2, 010. 1 2, 156. 7 1, 860. 0 1,870.8 2, 176. 1 2, 223. 9 2,321.3 2, 574. 5
132.0
154.6
163.5
129.2
112.8
1,503.9
130 9
169.7
104.3
102.3
91.1
147.0
118.2
24,411.8 2, 124. 8 2, 108. 8 2, 340. 5 1, 670. 2 1, 949. 6 1,721.9 1, 627. 3 1, 708. 1 1,782.0 1, 558. 1 1,539.1 1, 742. 9
21,929.1 1,993.6 1,977.9 1,793.3 1,605.8 1,704.1 1,916.5 1,828.6 1,813.2 1, 756. 7 1, 597. 9 1,821.6 2, 036. 1
760.5
776.4
753.4
9, 433. 1
798.9
782.3
749. 5
784.6
679.3 602.0
926.6
778.6 715.2
558.7
472.7
8, 962. 4
601.2
913.1
692.8
804.9
539.1
506.9
566.7
727.8 547.2
898.9
69.7
608.8
4.9
57.9
2.6
64.0
.3
79.1
Asia; Australia and Oceania:
Australia, including New Guinea
India..
_.
Pakistan
Malaysia
Indonesia
Philippines
_
Japan.
do
do
do
do
do
do
do
1,092.4 1, 082. 7
437.0
559.5
39.5
60.7
439. 6
769.7
505. 1 1, 688. 1
670.3 1,083.9
9,676. 2 12,337.6
Europe:
France
East Germany
West Germany
Italy
Union of Soviet Socialist Republics. _.
United Kingdom
_ _
do
do
do
do
do.
do
1,731.8
10.5
5,344. 5
2,001. 8
219. 9
3, 656. 5
2, 257. 4
14.1
6, 323. 9
2, 585. 0
349.7
4,061.3
214.4
.9
535.7
203.9
32.9
338.5
220.4
1.1
552.9
209.6
30.7
340.2
do
17,715.3
Latin American Republics, total 9
do
7, 827. 1
Argentina
.
do
278.3
Brazil
do
1,189.2
Chile
do
10?. 2
Colombia
do
408.6
Mexico
__
do
2,305.8
Venezuela
do
1,787.2
By commodity groups and principal commodities:
Agricultural products, total
mil $
8,491. 6
Nonagricultural products, total
do.. 1 1 60,984.1
Food and live animals 9 _
do
8, 014. 5
Cocoa or cacao beans
do
212.0
Coffee
do
1,570.1
Meats and preparations
do
1,671.2
Sugar
do
924.7
Beverages and tobacco
do
1,220.9
21,924.4
1,993.4
1,977.8
13,666.9
385.8
1, 699. 9
310.3
511.0
3, 390. 4
4, 671. 1
1,191.2 1,315.3 1,213.1
36.1
47.5
17.9
160.1
262.7
144.3
13.7
19.9
11.1
34.2
31.3
59.3
305.5
294.3 203.6
446.1
552.1
421.0
North and South America:
Canada
108.1
134.6
103.0
39.3
37.8
43.7
3.4
3.4
5.9
79.1
71.3
101.2
145.8
171.6
228.4
82.7
44.1
113.8
1,124.2 1,198.8 1,190.9
10, 380. 1
847.9
89, 837. 9 8,028.9
9, 386. 2
316.6
1, 504. 8
1, 352. 6
2, 247. 4
789.2
19.0
83.9
92.6
287.2
209.7
1.2
633.1
241.3
45.6
426.3
.2
61.6
.4
86.7
.4
52.2
.7
77.1
2.8
91.0
2.3
46.9
6.8
79.7
.5
85.0
77.0
87.3
28.5
33.6
2.5
3.2
59.0
50.7
93.2
133.5
84.3
72.7
916.3 1,006.4
92.0
31.2
4.4
51.7
214.4
92.1
929.1
70.3
30.7
3.3
55.0
148.7
47.9
808.3
123.4
37.1
3.5
56.5
133.4
33.1
858.1
89.3
42.3
3.8
59.4
224.8
35.7
952.6
108.3
36.6
3.3
44.0
232.1
50.2
915.5
132.4
50.7
3.3
56.2
207.6
87.3
840.6
109.8
76.8
3.9
74.4
219. 2
99.3
938.1
191.9
.7
508. 5
242.7
14.3
323.2
175.7
.6
439.2
185.3
18.0
304.3
177.7
.8
403.2
162.3
16.5
290.0
176.1
.6
413.6
192.3
20.3
311.8
204.6
.7
430.0
190.3
18.7
311.4
163.9
.9
408.8
214.3
14.1
271.4
134.2
1.0
347.6
205.7
21.4
274.6
150.8
1.4
433. 1
194. 9
25.4
298 9
.5
50.1
181.9
.9
416.9
174.3
19.4
314.3
1,793.3 1,605.8
876.9
14.1
110.4
7.8
43.6
221.2
263.5
1,703.4 1,915.4 1, 827. 3 1,812.8 1, 755. 8 1, 597. 6 1, 820. 9 2 034 7
925.6 1, 068. 7
959 3
872.4 1,114.7 979.0
964.1 1, 037. 6
12.4
39 9
24.9
9.7
14.4
10.7
12.6
10.4
121.0
115 2
108.4
188.3
110.4
119.7
96.1
117.5
7.8
13.1
14.1
10.9
16.4
11.9
9.0
10.3
55.0
59.9
44.5
32.8
61.4
40.4
46.4
50.3
243.5
270.3
298.4
251.1
253. 5
274.2
245.7
268.9
259. 3
249 8
307.8
278.1
251.8
443.6 304.5
204.0
687.4
965. 9
826.1
717.0
899 2
763.0
946 2
786.3 787.3 701.9
857.7
8,166.4 8,996.4 6,445.7 6,669.5 7,393.8 6, 656. 1 6,413.7 7, 152. 4 6, 826. 2 7,215.4 7, 682. 7
888.3
32.3
115.1
99.7
336.7
713.8
32.8
138. 5
114.6
123.8
626.8
29.8
123.0
82.9
134.2
657.5
34.1
110.1
87.2
154.2
684.5
28.2
102.2
75.7
200.3
611.0
24.6
95.7
67.7
145.2
779.7
23.6
120.3
83.2
259.5
705.8
19.4
115.9
99.9
174.7
635.8
14.6
141.0
95.6
109.1
896.9
21.2
210.4
106.2
237.0
759. 9
27.2
725.1
1 4^ ^
109 0
165.4
120.4
107.2
106.4
128.0
1,322.3
119.1 116.9
103.4
106.9
102.7
95.8
112.3
143.7
129.6
do
415.3
5, 013. 8 6, 065. 6
497.5 477.9
475.0
468.4
476.4
457. 7
390.6
506.4
420.9
456.3
451.2
512.4
do
199. 4
1,304.5 1, 848. 1
165. 0
184.0
155. 4
184.3
185.8
161.4
181.5
160.1
183.3
132.7
150.4
do
101.1
678.7 1,164.9
82.2
95.8
84.6
86.9
92.4
75.8
89.6
105.5
97.2
87.8
86.8
do"""
236.6
225.2
10.5
15.0
10.0
17.6
19.6
11.4
12.9
16.6
8.5
14.9
12.3
11.3
do
345.4
34.2
34.1
515.6
36.1
30.0
28.9
23.8
28.0
32.3
27.4
18.7
27.6
30.7
Mineral fuels, lubricants, etc
do
8, 173. 5 25, 453. 8 2, 214. 7 2, 497. 6 3, 414. 9 1, 937. 4 1,477.6 2, 438. 4 1, 937. 5
2, 132. 0 2, 240. 4 2, 446. 1 2, 345. 5 2,089.4
Petroleum and products
."do"" 7, 614. 2 24, 269. 5 2, 092. 8 2, 352. 6 3, 249. 6 1,772.4 1, 343. 3 2,310.4 1, 828. 0 1,428.3
1,316.1 2, 021. 8 2, 134. 3 2, 305. 0 2, 197. 7
Animal and vegetable oils and fats
do
66.2
258.6
48.8
53.3
55.1
544.3
49.9
44.7
40.7
32.7
48.5
44.8
41.6
51.9
33.2
Chemicals.
do
2 463 0 4, 017. 7
298.5
302.4
397.1
306.2
247.4
385.7
437.2
270.6
275.1
340.8 351.9 285.6
252.9
Manufactured goods 9 If
do
13, 244. 1 17,718.7 1 767 7 1, 728. 6 1, 749. 5 1, 259. 0 1, 313. 3 1, 243. 9 1, 144. 7 1 231 4 1, 136. 6 1 005 3 1 091 8 1,194.0 1,121.2
Iron and steel
do
3,017. 0 5, 148. 9
698.2
735. 5
285. 4
238.5
321.8
746.3 491.4
485.5 422.5
265.7
371.6
355.8
Newsprint..
do
1,185.9 1,503.2
97.8
139.4
106.0
116.7
152.8
139.8
134.6
109.0
131.9
131.0
134.6
138.1
Nonferrous metals
do
2,464. 9 3,921.0
258.8
194. 5
173.2
343.8
190.5
162.0
225.8
309.3 297. 3
169.4
231.0
195.7
1,579.7 1,614.7
117.0
147.8
119.9
88.5
94.2
89.9
114.7
89.3
85.4
90.1
89.6
87.4
' Revised.
9 Includes data not shown sepanitely.
cfSee corr espondin g note o n p. S-2 2.
W tanufacti ired goo(is — classi fied chie fly by rrlaterial.
OEffe ctive Ju ne 1975 SURVEY
data beginning 1974 are based on f.a.s. (free alongside ship) valu e basis rat her than customs value ba sis as fonnerly she>wn.
Crude materials, inedible, exc. fuels 9
Metal ores
Paper base stocks...
Textile
fibers
Rubber
Textiles
::::::::::do::::
S-24
January 1976
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
Annual
1975
1974
1974
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF IMPORTSO— Continued
General imports— Continued
By commodity groups and principal commodities—Continued
Machinery and transport equipment
mil. $ 21, 076. 1 24,060.3 2 037.0 2,011.6 1 894 7 1 688 8 2 138 4 1,899 2 1,934 5 1,961.6 1, 964. 4 1, 822. 0 1,793.3 2, 138. 6 2, 018. 6
966.4 1,109.8
924 3
971 4 1,012.0
Machinery total 9
do
9 966 1 11 612 0 1 006 4 989 2
898 4 1 099 3 938 1
944 9
868 5
29.1
23.5
29.8
Metalworking
*
do
29 1
29 7
26.0
299.7
25 6
188 9
39 3
41 0
32 6
30 1
36 8
527.4
432.0
411.0
455.6
420 4
424 7
407.9
Electrical..
do
456 4
376 4
357.0
4,498 6 5, 339. 1
284 4
353 0
Transport equipment
Automobiles and parts
1 029.4 1 022.5 1,026.2
824 9
851 8
770 2
do
do
11,109 0 12,450.7
9 252 3 10 263 9
do
8,217.4
9, 426. 2
1,794 0
2, 255. 7
228 2
137 4
165.6
227.5
174.5
180.5
315.0
148.5
174.0
258 4
tons
mil $
thous sh tons
mil $
Miscellaneous manufactured articles
Commodities not classified
do
990. 1
837.5
952.4
807.2
897.7
777 1
626.3
722.7
850.9
800.6
815.7
919.7
844.1
198 5
219.7
223.8
189.7
217.9
217.4
211.9
197.4
176.2
347.9
196 9
174.7
344.0
194 6
170. 9
332.5
195.5
162.8
318.3
194.2
168.9
328.0
195.5
165.8
324.1
194.1
193.7
376.0
195.5
188.4
368.4
249.3
135.1
336.7
248.3
148.4
368.5
245.8
135.2
332 3
246.2
133.4
328 5
238.3
149.4
356.0
238.8
141.3
337.4
237.6
154.5
367.2
238.9
160.5
383.4
236.6
150.6
356.2
19 732
4,785
21 260
5 353
21,514
5,105
22, 262
4,969
21, 441
4,847
30 390
4 727
26 597
4 812
38,017
5,397
32, 342
4 779
27, 781
4 632
16.10
57 4
2,110
17 30
61 9
2241
12.90
51 8
1,803
13.36
« 53 7
1,899
790 4
619 1
1,109.0
922 0
755 6
621.9
217 7
218 0
181 0
193.3
186.8
361.2
193 9
173.6
336.4
196 3
178.5
350.4
223.3
168.1
375.5
239.7
167.1
400.5
247.8
165. 6
410.4
274 257
39 642
264 807
55, 490
24, 267
5,487
441 624
42 742
446, 558
67 160
38, 781
5 912
824 0
961 1
788 7
989 6
851 3
687 8
703.8
185 4
231.2
197 5
165.9
327.7
199 0
182.9
364.0
245.2
179.4
440 0
239.6
134.1
321.2
19, 428
5,096
23 072
5 6PO
41, 934
6 173
53 836
7 122
751.8
826.9 1,028.8
907.0
699.8
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
1967 — 100
Quantity
do
Value _ _ _ _
. do
General imports:
Unit value
__
do
Quantity.
_
do
Value
do
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight
Value
General imports:
Shipping weight
Value
thous sh
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue)
bil
Passenger-load factoi'5
percent
Ton-miles (revenue), totalf
mil
Operating revenues 9 O
..
Passenger revenues
Freight and express revenues
Mail revenues .
Operating expensesO
Net income after taxesO
Domestic operations:
Passenger-miles (revenue)
Express and freight ton-miles
Mail ton-miles
Operating revenues©
Operating expensesO
Net income after taxesO
International operations:
Passenger-miles (revenue)
Express and freight ton-miles
Mail ton-miles
Operating revenues©
Operating expenses©
Net income after taxes© -
.
mil $
do
do
do
do
do
161 96
52 1
22 242
162 92
54 9
22 425
11 18
46 3
1 634
13 27
51 1
1 818
bil
mil
do
126 32
2 922
687
129 73
2 888
mil $
do
do
9 694
9 200
179
b 11 545
&
10 760
bil
mil
do
35 64
1 916
522
33 19
mil $
do
do"
2 725
2 633
48
& 3 157
f > 3 218
5 294
3 5 602
100
8 963
100
100
9 803
2 530
250
248
203
196
9 05
227
60
692
10 76
209
74
10 06
198
57
8 94
190
52
10 95
225
58
12 91
1 774.
14 90
56 5
1 968
10 07
224
57
10 49
12 14
12.75
238
54
13.81
249
54
10.22
244
53
10.92
261
59
2 12
2 49
157
2 76
noo
C7
232
52
0«
37
3.35
172
35
3.49
175
33
2.67
187
30
2.44
210
33
475
455
430
425
433
496
450
99
9 -[06
d 100
d 2 474
100
2 269
• 100
• 2, 467
100
2 500
52
o5
d gg
54
« °49
81
50
38
d 50
41
«48
43
124
117
138 5
140 1
137 5
137 6
2 51
156
51
2.58
144
34
2.07
147
31
2 35
1 ^9
35
771
835
—56
—60
12 19
50 3
1 689
2 779
2 862
93
6
2 13
icfi
44
13 30
52 4
1 820
3,502
2,849
293
79
3,643
163
2 832
2 809
381
471
11 01
47 8
1 520
3,603
2,856
325
98
3,644
63
12,419 & 14, 703
10 274
11 879
1 075
1,248
303
309
11,834 &13 978
227
322
o ncQ
12 64
48 4
1 697
37
•I Cfi
723
781
70
Local Transit Lines
Passengers carried ("revenue)
mil
Motor Carriers
Carriers of property, large, class I:*
Number of reporting carriers
Operating revenues, total
mil $
Net income, after extraordinary and prior period"
charges and credits
mil $
Tonnage hauled (revenue), common and contract
carrier service. .
mil tons
Freight carried— volume indexes, class I and II
intercity truck tonnage (ATA) :
Common arid contract carriers of propertv
(qtrly.)cf _ . average same period 1967—100*
Common carriers of general freight, seas, adj.f
1Q<>7 inn
Class I Railroads
Financial operations, qtrly. (AAR):
Operating re venues total excl Amtrak09mil $
Freight
do
Passenger, excl. Amtrak
do
Operating expenses 0 . .
do
Tax accruals and rents
do
Net railway operating income
do
Net Income (after taxes) 0
_
do
3
142
135
1 CO A
2 i KC n
14 821
13 818
16 945
15 784
259
11 595
2 371
855
r
455
2 144 (\
468
459
528
2 1 Or A
290
4 329
4 0^6
79
13 123
2 841
3 446
675
981
°01
1552
»747
1 149
r
Revised.
*> Preliminary.
1 Before extraordinary and prior period items.
2 Comparison with year-ago data may be affected by the change in reporting actual tonnage carried
instead of billed tonnage, per the ICC Uniform System of Accounts (1/1/74).
3 Annual
total: monthly data not revised.
Q See corresponding note on p. S. 23.
9 Includes data
not shown separately.
1 Applies to passengers, baggage, cargo, and mail carried.
§ Passenger-miles as a percent of available seat-miles in revenue service reflects proportion of seating capacity actually sold and utilized.
© Total revenues, expenses, and income for all
495
488
124
118
131 2
4,154
• 4, 392
3 995
3 900
« 4 129
3 746
75
• 73
73
3,237
•3 322
3 301
3 301
727
a 555
'"815
693
190
a H7
1
«°255
1115
'1246
i 176
1 67
groups of carriers also reflect nonscheduled service.
* New series. Source: ICC (no comparable data prior to 1972).
cf Indexes are comparable for the identical quarter of each
year (and from year to year); see 2.
0 Natl. Railroad Pass. Corp. (Amtrak), not included
in AAR data above, operations for 1973 and 1974 (mil. dol.): Operating revenues 202; 257;
operating expenses, 328;
463; net income.-159; -273 (ICC).
« See
corresponding note,
b
d
bottom of p. S-25.
See corresponding note, bottom of p. S-25.
For c 2d qtr. 1974.
• For 3d qtr. 1974.
t Revised to new seasonal factors back to 1957.
Corrected.
3
3
QOQ
CDQ
70
January 1976
SUEVEY OF CUERENT BUSINESS
1973
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition oi BUSINESS STATISTICS
1974
S-25
1975
1974
Annual
Nov.
Dec.
Mar.
Feb.
Jan.
Apr.
June
May
July
Sept.
Aug.
Nov.
Oct.
Dec.
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION— Continued
Class I Railroads— Continued
Traffic:
Ton-miles of freight (net), total qtrly
bil
Revenue ton-miles, qtrly. (AAR)
do
Revenue per ton-mile
cents
Price index for railroad freight*
1969 = 100. .
Passengers (revenue) carried 1 mile _. . mil
878 4
851.8
1 620
129.3
9,298
880 7
851.0
1 848
149.7
10, 333
111
22 39
64
18 29
68
117
v 24 49
v 62
» 19 44
v 66
9 211
8 758
5 750
4 905
2,729
55, 406
2
426 3
204.2
2 1 971
158.3
158.0
2 5 076
190.1
182.4
193.3
189.6
194 5
1S6. 9
194.2
158.3
158.3
158.3
158.3
165.8
165.9
175.2
175.6
175.7
180.2
180.8
180.9
Travel
Hotels and motor-hotels :f
Restaurant sales index
same month 1967 ~ 100
Hotels' Average room sale^I
dollars
Rooms occupied
% of total
Motor -hotels: Average room salel
dollars
Rooms occupied
% of total
Foreign travel:
TJ S citizens* Arrivals
thous
Departures
do
Aliens* Arrivals
do
Departures
do
Passports issued. -.
.
do
National parks, visits
..
_
do
115
26r 02
61
19. 84
r 62
111
24 22
47
19.59
46
103
27 34
55
19.90
57
110
27 17
59
20.29
59
120
27 61
57
21.93
61
114
27 57
61
21.69
65
126
27 67
59
20.82
63
123
27 IS
64
21.51
71
131
27.31
59
22.81
71
121
26 89
60
21.77
76
115
27.01
58
20.72
65
131
29.55
70
21.31
69
117
28.19
60
21.16
60
8 540
8 306
5 936
5 067
2,415
52, 857
571
539
417
411
115
2,381
518
608
468
417
111
1,660
627
558
505
411
165
1,757
531
515
431
328
179
1,635
553
687
503
399
223
2, 497
624
582
428
338
261
2,735
625
731
466
406
263
4,437
701
760
538
445
286
7,948
241
11,320
187
11, 445
161
5,845
131
4,597
119
2,596
v 118
3,716
26, 030
12 430
10, 371
16 535
4 710
123 3
29, 013
13 932
11,456
18 468
5 310
127.9
2.457
1 198
943
1 571
450
2,469
1,196
958
1 705
398
127.9
2,500
1,201
989
1 665
421
2,451
1,211
914
1 590
427
2,564
1,224
1,017
1,658
459
128.6
2,654
1 247
1 069
1 692
484
129 1
2,647
1 254
1,054
1 685
484
129.2
2,659
1,268
1,050
1,674
495
129.5
2,717
1,270
1,102
1,725
500
129.9
2,712
1,280
1,085
1,729
497
130.3
2,743
1,300
1,087
1,777
492
131.1
2,827
1,323
1,138
1,854
500
131.6
454 7
372 9
53 8
483 9
384 7
69.4
39 3
31.7
4.8
41.7
33.6
5.9
39 6
32 0
5.1
38 7
31.2
4.9
40 9
32.0
6.4
42.0
32.9
6.6
42.6
33.6
5.9
43 2
33 4
7.1
43.1
33.7
6.9
41.5
33.9
5.2
42.1
34.3
5.4
45.1
35.6
6.8
263 2
183 9
* 65 4
<4 298 7
205 4
4 77 4
24.2
16.9
59
25.8
18.2
69
25 9
18.0
6 6
24.6
17.1
60
25.0
16.8
67
26.7
19.3
59
26.2
18.1
68
26.0
18.5
60
26.7
19.0
6 2
25.5
18.1
5 9
<27.5
U8.9
* 7.1
428.7
419.8
*7.3
88
778
169
'39
106
831
181
41
208
801
41
102
247
849
66
113
67
63
72
62
'384
1,619
173
1,081
132
p 487
r
r
COMMUNICATION
Telephone carriers:
Operating revenues?
mil $
Station revenues
do
Tolls, message
do
Operating expenses (excluding tuxes)
do
Net operating income (fiffer fixes)
do
Phones in service, end of period
mil
Telegraph carriers:
Domestic:
Operating revenues
mil $
Operating expenses
do
Net operating revenues (before taxes) do
Overseas, total:
Operating revenues
do
Operating expenses
do
opera ng revenues (before taxes ... 0 — .
4
4
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
Production:
Aluminum sulfate, commercial (17% AljOs)?
Chlorine gas (100% Clj)J
Hydrochloric acid (100% HCl)t
Phosphorus elemental!
Sodium carbonate (soda ash), synthetic
Sodium hydroxide (100% NaOIDl
Sodium silicate anhydroust
do
do
do
(58%
do
do
Sodium trypolyphosphato (100% NasPsOio)}
do
Sulfur, native (Frasch) and recovered:
Stocks (producers') end of periodd71
do
1 252 r i 283
10 402 r 10 753
r 2 5H
r
90
672
157
40
89
709
149
37
79
695
150
35
100
699
159
31
99
767
175
33
319
r
967
65
r 112
269
886
59
131
247
742
45
125
230
708
55
107
238
685
53
107
248
726
64
105
°16
713
61
81
214
719
49
96
226
792
45
101
524
45
r 200
3 507
r 285
451
r
189
' 770
963
67
r
i 34§
r H5
903
r 84
r gO
r 79
r 7§7
55
73
48
67
44
66
37
64
44
61
46
60
48
57
50
68
57
i 10 533
3 957
883
3 934
884
3 957
869
4 014
809
4 054
904
4,220
908
4,309
912
4,498
835
4,739
837
4,871
841
4,950
r
802
4, 993
831
5,052
i 339
1 20°
5Q3
162
566
174
595
2 546
1 369
641
161
603
215
658
2,711
1 345
644
161
618
235
644
2,743
1 406
591
144
593
230
600
2,483
1 354
523
150
553
218
530
2,263
1 349
'559
171
581
192
502
2,300
1 360 r 1T 264
489
536
170
••150
541
••569
162
153
r
573
543
2,381 2,400
1,248
585
151
615
157
635
2,575
455
431
536
1,466
65
985
140
485
459
592
1,566
121
1,155
103
519
479
485
1,336
75
993
47
495
607
324
1,575
149
1,179
81
413
650
244
1,503
116
1,010
127
383
697
177
3,952
108
1,276
2,258
375
707
338
1,715
134
1,023
205
462
517
672
1,586
147
1,163
133
r
r 957
785
i 10 021
3 927
70
692
154
42
r 102
r 994
r 11
r 1 437
46
80
730
163
39
r 929
r 214
526
3 813
r iQ 734
723
81
844
177
42
r 100
r 2
T
T
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydroust
r
Ammonium sulfatoi
do
Nitric acid (100% HNOs)J
do
Nitrogen solutions (100% N)f
do
Phosphoric acid (100% PjOs)!
do
Sulfuric acid (100% HjSO^l
do
Superphosphate and other phosphatic fertilizers
(100%P 5 O fi ):
Stocks end of period
Potash, deliveries (KaO)
Exports, total 9
do
do
do
r
15 208
7 235
1 987
8 398
1 991
6 927
31 540
5 578
332
5,902
20, 128
1 044
14 895
1 579
r
r
15 805
1 542
2 120
8 120
2 243
7 213
33 052
5 367
377
6,334
1
20, 143
i gi4
15 348
1 415
r
i 258
' 656
153
r g52
r 187
r 635
2 806
2 94">
1 206
617
156
603
145
558
2 530
400
303
534
1,529
70
1 156
138
444
377
514
1,866
69
1,449
88
421
414
537
2,001
87
1,466
136
r 672
r
211
r
r 682
r
141
678
Phosphate materials
do
Potash materials
do
Imports:
64
338
369
19
28
Ammonium nitrate
do
20
40
299
10
Ammonium sulfate
do
258
629
583
Potassium chloride
do
7 146
587
5 899
31
10
Sodium nitrate.
do
69
20
150
r
l
Revised.
v Preliminary.
Annual total;
monthly revisions 4are not available.
3
s
For six months ending in month shown.
For month shown.
Includes data for
Western Union Int. Cable & Wireless as noted.
tEffective May 1975 SURVEY, series restated to shift index to the 1967 base month and to
show separately operations for hotels and for motor-hotels; comparable data back to May
1971 are available.
If Refers to average dally rent per occupied room, not to scheduled rates.
9 Includes data not shown separately,
*See note "*," p. S-22.
t Monthly revisions back to 1971 are available upon request.
cfln the footnote of the 1973 BUSINESS STATISTICS a distinction is made between "gross
weight" and "sulfur content." However, because the difference is so minute, the Bureau of
Mines no longer makes this distinction.
r 406
r
621
320
1,787
79
1,252
111
32
14
12
26
17
8
25
27
23
18
15
20
6
6
14
40
32
12
5
12
526
746
595
332
299
354
418
728
388
607
0
2
7
42
5
16
0
17
18
19
NOTES FOR P.S-24—a Beginning 1975 (and restated year-ago period), data reflect changes
in accounting to include provision for deferred taxes and other changes. For general comparison
under former accounting method, net railway operating income for 1st qtr. 1975 is about $18
mil. lower (and for 1st qtr. 1974, about $41 mil. lower); for motor carriers, net income
for 1st
b
qtr. 1975 is about $3.2 mil. lower (and for 1st qtr. 1974, about $1.8 mil. lower).
Effective
1974, comparison of operating revenues and expenses with prior periods is affected by revised
reporting regulations. Beginning 1974, other transport-related revenues and expenses are
reported gross in operating revenues and in expenses rather than as net in operating revenues.
For the year 1974, for total certificated route carriers, this reporting change had the effect of
increasing operating revenues by 2.5% and expenses by 2.7%.
SURVEY OF CURRENT BUSINESS
S-26
1973
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
1975
1974
Annual
Nov.
January 1976
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS— Continued
Industrial Gases?
Production:
7,808
8,268
Acetylene
mil. cu. ft
Carbon dioxide, liquid, gas, and solid
1,766
1,566
thous. sh. tons .
75, 017
65, 169
Hydrogen (high and low purity) .. mil. cu. ft
Nitrogen (high and low purity)
do _. 227, 160 243, 612
389, 436 389, 628
Oxygen (high and low purity)
do
Organic Chemicals d"
Production:
132.9
32.2
Acetylsallcylic acid (aspirin).
mil. Ib
187.7 i 124. 2
Creosote oil ©
mil gal
i
170. 2
i
221.
5
Ethyl acetate (85%)
mil. Ib
16,424.1 1 5,845.8
Formaldehyde (37% HCHO)
do
348.7
359. 1
Glycerin, refined, all grades _
do
Methanol, synthetic
mil. gal . i 1,063.9 11,033.9
i 1,022.6 i 978.6
Phthalic anhydride
mil. Ib
ALCOHOL*
Ethyl alcohol and spirits:
692.1 '617.4
Production
mil tax gal
470.8 r 460. 3
Used for denaturation
do
'73.8
72.5
Taxable withdrawals
do
100.6
100.9
Stocks end of period
do
Denatured alcohol:
255.3
253.5
Production
mil. wine gal
255.4
253.7
Consumption (withdrawals)
do
2.8
2.5
Stocks end of period
do
r
669
608
483
477
422
501
537
539
567
592
728
683
137
6,236
19, 744
32, 611
133
5,878
20, 101
32, 063
99
4,981
19, 785
32, 095
95
4,416
18, 282
30, 763
106
4,859
19,364
32 199
110
4,772
19,165
29, 595
115
5,541
19,350
29 067
127
5,214
18,688
27,014
133
5, 485
19 453
26895
138
5,857
19, 971
27, 558
'127
' 5, 967
r
20,245
r
29,854
133
5,774
20, 539
29, 297
2.7
9.7
12.5
370.2
31.3
85.5
71.1
2.6
8.6
12.8
351.3
30.0
82.4
56.2
2.5
24 1
11.8
261.2
26.3
66.1
39.2
2.1
13 3
9.0
256.3
24.1
28.3
41.5
2.2
8 4
10 1
351.5
22 6
30.1
43.7
2.1
9.0
6.1
380.3
19.8
52.0
50.6
1.9
8.7
7.0
352.7
18.3
58.7
54.7
2.2
7.6
5.9
372.7
18.8
76.5
64.2
2.3
5.9
11.1
356.7
17.3
80.5
52.6
2.4
7 5
11 1
384.3
22.1
64.6
64.9
1.9
8 3
10.8
430.1
19.5
61.6
68.0
2.0
7.9
9.8
495.4
9
48.6
37.3
6.3
79.3
54.8
36.3
6.2
100.6
52.0
35.4
6.3
107.1
40.4
30.2
5.0
110.1
44.5
25.6
6.9
123.1
41.4
29.3
6.1
120.9
39.8
30.4
6.4
114,7
39.1
29.6
6.8
116.7
41.3
29.7
6.4
114.1
40.1
29.7
6.3
115 2
39.6
43.8
7.1
107.0
53.8
37.8
7.6
96.7
20.2
20.0
2.7
20.1
20.2
2.8
19.7
19.6
2.9
16.3
16.6
2.6
14.0
14.2
2.4
15.9
15.6
2.7
16.4
16.9
2.1
15.6
15.8
2.0
16.8
16.5
2.3
16.1
16.4
2.1
18.9
18.8
2.2
20.3
20.3
2.2
98.1
724.9
207.1
335.1
401.1
83.3
734.7
156.1
250.6
356.8
67.5
635.0
124.2
226.1
254.2
61.5
477.6
101.2
232.3
198.4
97.8
483.2
119.6
260.3
247.7
105.0
454.1
133.3
312.3
281.8
99.8
506.6
144.8
345.9
270.4
101.8
542. 8
164.8
307.1
315.8
98.9
569.1
158.7
294.5
316.6
109.0
633.5
188.8
347.3
335.9
124.2
680.0
189.6
419.9
322.3
138.3
711.5
204.5
420.3
374.0
r 2 9
65.6
73.6
2.2
6 3
14.3
399.4
25.7
74.2
65.0
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
.
_
Polyethylene and copolymers
Polypropylene
_
-..
.
Polystyrene and copolymers
Polyvinyl chloride and copolymers
11,647.9
i 1,512.2
mil. Ib
1
8,581.8 i 8 820.8
do
. d o .- 12,164.6 12,257.7
15,156.0 H,967.6
do
1 4,594.3 14 821.2
do
111.6
693.6
192.3
389.9
371.0
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly
nil Ib
Paints, varnish, and lacquer, factory shipments:
Total shipments f
mil $
Trade products f
do
Industrial finishes t
do
2 083 7
3,133.1
1 ,659 0
1 473.9
2 152 6
3 672.3 280.4
1 870 5 133.4
1 801 7 147.0
565.5
534.9
223.3
104.5
118.8
302.2
156.5
145.8
265.0
123.0
141.9
267.5
135.9
131.6
589.2
610.5
334.1
175.8
158.3
362.9
197.4
165. 5
391.6
216.2
175.4
373.4
206.7
166.7
387.1
209.7
177.4
' 384. 6
' 197. 5
' 187. 1
367.8
178.9
188.9
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total
Electric utilities total
By fuels
By waterpower
Privately and municipally owned util
Industrial establishments total
Bv watprnowpr
1 963 948 1 966 373 157 896 167 677 170 919 153 341 162 197 152 206 158 376 167 782
do
do
do
1 857 381 1 865 287 149 602 159 360 163 348 146,338 154, 955 145, 289 151,471 160, 927
1 585 600 1 564 552 128 522 136,343 138 478 122, 493 126, 913 118,610 123,781 133, 843
271 782 300 734 21 080 23 016 24 870 23, 845 28 042 26 679 27, 690 27, 083
do
1 530 654 1 519 831 124 139 132 351 134 110 119 772 124 624 116 095 122 336 131,246
326 727 345 455 25 463 27 009 29 238 26 566 30 330 29 194 29 134 29 681
do
do
106 567
102 878
3 689
101 087
97 574
3 513
8 294
8 041
253
8 318
8 018
300
7 571
7 271
301
7 004
6 723
281
7,243
6 943
300
6 918
6 618
300
6 906
6 582
324
6,855
6,559
296
Sales to ultimate customers, total (Edison Electric
Institute)
mil kw -hr 1 703 203 1,700,769 137, 202 141, 302 146, 950 142, 881 139, 872 136, 294 133, 505 141, 801 150, 637 157, 013 154, 635
Commercial and industrial:
Small light and power§
do
396 903 392 716 31 947 32, 698 33 603 33, 146 32, 704 32, 114 32, 313 35, 703 38, 400 39, 395 38, 276
Large light and power §
do
687 235 689 435 57 666 54 332 54 557 53 480 53 169 52, 851 53 530 54, 843 54, 335 56,551 57, 555
Railways and railroads
Residential or domestic
do
do
4 ige
554 171
4 958
554 960
375
42 209
392
48, 803
374
53 289
393
50,716
388
48, 596
379
46, 035
339
42, 424
319
45, 741
344
52, 275
326
55,311
333
53, 057
Street and highway lighting
Other public authorities
Interdepartmental
do
do
do
12 836
42 340
5 532
13 314
40 721
5 366
1 220
3 364
422
1 239
3,420
418
1 261
3 438
428
1 219
3,522
405
1 165
3,459
391
1 096
3,428
390
1 063
3 436
398
1,022
3,691
482
1,075
3,716
492
1,077
3, 857
498
1,124
3,798
493
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil $ 31 662 9 39 126 8 3 388 9 3 550 5 3 745 5 3 798 8 3 683 5 3 601 9 3 543 0 3 832 4 4 187 2 4 366 8 4 294 4
GAS
Total utility gas, quarterly
(American Gas Association):
Customers, end of period, total
Residential
Commercial
Industrial
Other
Sales to customers total
Residential
Commercial
Industrial
Other
Revenue from sales to customers, total
Residential
Commercial
Industrial
Other
thous
do
do
do
do
44, 201
40 551
3 388
215
47
44, 734
41 034
3,446
196
58
tril Btu
do
do
do
do
16 480
4 994
2 281
8 371
'§35
16
4
2
8
44, 953
41 225
3,434
204
90
44, 552
40, 932
3,375
190
54
44, 400
40, 811
3,349
186
54
3 872
1 231
593
1 *68
180
4 947
2 236
997
1 546
168
3 546
1,150
534
1 728
133
2,790
468
296
1,854
172
4,133
15.360
12, 987
6 899
1 893
6 247
717
2 539
2 172
1 413
5 509
4 197
110
'413
'371
r
l
Revised.
Reported annual total; revisions are not distributed to the monthly data.
{Data are not wholly comparable on a year to year basis because of changes from one
classification to another. tf'Data are reported on the basis of 100 percent content of the
specified material unless otherwise indicated.
f Monthly revisions back to 1971 are avail-
mil. $..
do
do
do
do
000
865
293
153
689
44, 734
41 034
3,446
196
58
3,374
6,328
4,560
3,348
979
2,012
435
752
1,278
1,784
1 454
1,682
176
249
113
able upon request.
0In the 1973 BUSINESS STATISTICS the unit reads "millions of
gallons"; it should read "thousands of gallons."
f Monthly revisions for 1973 will be shown
later.
SURVEY OF CURRENT BUSINESS
January 1976
1973
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1974
Nov.
Annual
S-27
1975
Jan.
Dec.
Mar.
Feb.
May
Apr.
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO
-
ALCOHOLIC BEVERAGES 9
" Production
- . mil. bbl_. 148. 60
138. 47
Taxable withdrawals
do
12.76
Stocks end of period
- do
Distilled spirits (total):
183. 07
Production
mil. tax galConsumption, apparent, for beverage purposes
mil. wine gal-- 1 404. 17
Taxable withdrawals
mil. tax gal-- 2? 0.04
939. 70
Stocks end of period
do
Imports
- mil. proof gal-- 107. 28
Whisky:
108. 39
Production
mil. tax gal
133.63
Taxable withdrawals
- do.
893. 00
Stocks end of period
_ _ _ _ __do_
92.30
Imports
mil. proof gal_.
156. 20
145. 46
12.58
10.71
10.42
13. 04
11.11
10.74
12.58
12.54
11.12
13.21
11.18
9.84
13.54
12.40
11.57
13.76
14.50
13.01
14.26
14.34
13.41
14.17
15.76
14 44
14.30
16.00
14.69
14.36
14.72
13 88
14.18
13.34
12 51
13 98
12.35
11 90
13.48
162. 55
12.69
12.23
11.26
10.19
10.56
11.79
11.87
10 81
7.57
6 31
11 83
18 85
1415.47
220. 77
875. 75
110. 98
39.93
19. 70
880. 48
10.06
47.76
16.71
875. 75
11.29
31.43
19.36
891.54
7.11
26.84
14.55
862. 94
7.67
32.57
15.75
857. 25
7.92
33.44
20.19
852. 07
9.93
33.84
19.47
841. 86
9.89
35.80
20.28
830 03
9.01
33.38
17.08
822 39
8.67
32.15
18.29
811 02
7.48
20.59
80° 92
8.71
23.91
797 38
12.72
11.75
75.15
137. 03
822. 11
93.92
3.95
12.32
828. 47
8.51
3.80
9.69
822. 11
9.58
3.35
10.66
814. 68
5.74
3.79
9.49
808. 00
6.34
4.41
9.81
802. 16
6.57
5.47
12.97
794. 26
8.39
5.13
11.92
786. 90
8.32
4 10
11.75
776. 47
7.50
2 42
10 04
770 97
7.39
1 22
10 87
760 46
6.05
5 41
12 81
752 70
7.13
8 82
15 78
744 94
10.83
10.01
114.93
53.35
118. 63
53.38
12.02
6.38
9.18
3.40
9.24
3.56
7.98
3.59
8.13
3.22
10.79
5.25
9.83
4.34
10.26
4.36
8 48
3 54
8.18
3 22
10 08
3 98
11.38
4 96
20.50
18.97
8.48
2 02
18.83
18.03
8.12
1.80
1.53
2.23
9.33
1.30
2.43
8.12
1.75
1.20
8.61
1.11
1.53
1.18
9.00
1.57
1.51
1.52
8.95
9.49
.12
.11
9.51
1.43
1.20
9.65
.86
8.73
.12
.13
.08
2 14
1 05
10 45
1 58
1 42
10 52
1 84
2.85
9.42
401. 44
r
279.99
451. 59
3 49. 58
45.06
23.11
473. 14
4.27
18.44
27.19
451. 59
3.59
9.93
23.88
432. 10
3.92
8.14
22.48
413. 00
2.78
8.27
26.88
387. 40
3.34
7 14
24.30
366. 37
4.00
8.82
24.24
347. 15
3.65
7.78
25.13
325. 14
3.98
8.97
22.40
306. 45
3.91
378. 68
354. 30
40.08
17.46
9.61
3.49
7.11
6.01
2.72
3.87
6.12
< 918. 6
46 4
3.689
961.7
49.2
.674
67.3
58.0
.705
89.6
49. 2
.673
97.4
54.5
.677
90.4
61.3
.693
96.3
60.5
.692
100.9
66.5
.704
101 6
85 2
.705
88.3
99 7
.706
mil. Ib _ < 2 685.4
_ _ _ do
* 1 672.5
2,930. 2
1,858. 6
205.8
116.6
218.7
124.9
216.3
130.6
203 9
122.1
238.0
144.1
243.4
152.9
264 2
168 4
357. 8
290.3
232. 0
494.0
420.8
315.6
502.2
430.2
19.0
494.0
420.8
31.7
482.2
413. 5
14.4
458.1
393.1
8 4
447.5
385.6
441.0
379.8
9.6
.843
.973
.962
.946
.936
.946
.952
.968
* 1 102 2
1,035.2
60.8
78 1
73.9
70 2
75 0
77 9
96 6
97 1
69.2
79.2
101.0
79.2
68.1
61 8
54.3
60.3
84 2
104.0
3
.1
4
1
1
Rectified spirits and wines, production, total
mil. proof gaLWhisky
.- - 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 winerles.-.do
437.54
273. 07
422. 37
53.15
r
.16
.22
.12
.94
.97
.14
.91
07
30
14
87
32
58
44
162 20
29 97
440. 94
3 91
13.24
80 01
143. 25
70.4
97.7
.788
58 9
79 2
.863
57 0
273.2
170.7
249 9
153.0
454 8
392 6
9 0
475 1
410.2
9.6
.987
1.006
8
21
287
3
97
69
46
83
62
24
319
3
5 28
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. lb__ do
$ per l b _ _
Stocks, cold storage, end of period
. do
American, whole milk
do__ .
Imports
do
Price, wholesale, American, single daisies (Chicago)
$ per lb_.
Condensed and evaporated milk:
71
Production case goodso
mil. Ib
Stocks, manufacturers', case goods, end of month
or yearo"
mil. Ib
Exports:
Condensed (sweetened)
do
Evaporated (unsweetened)
do
Fluid milk:
Production on farms
..
._ do _ _
Utilization in rnfd. dairy products.
do
Price, wholesale, U.S. average
__$ per 100 lb._
Dry milk:
Production:
Dry whole milk
mil. Ib
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_.
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye, wheat)
mil. bu__
Barley:
Production (crop estimate)
do. _
Stocks (domestic) end of period
do
On farms _
_ _ do .
Off farms
__
do__ .
Exports, including malt§
._
do
Prices, wholesale (Minneapolis):
No. 2, malting
$ per bu
No. 3, straight
do ._
Corn:
Production (crop estimate, grain only). .mil. bu_.
Stocks (domestic), end of period, total
do
On farms._ _.
__do _
Off farms
do
Exports, including meal andflour.
do
Prices, wholesale:
No. 3. yellow (Chicago)
$ per bu
Weighted avg., selected markets, all grades
do...
Oats:
Production (crop estimate)
mil. bu.
Stocks (domestic), end of period, total _ ..do _.
On farms
_
do
Off farms
...do _
Exports, including oatmeal
do ..
Price, wholesale, No. 2, white (Minneapolis) f
$ per bu.
s
9.4
r 27 0
.900
.950
64 8
15 1
1.042
226 3
133 8
o-t q o
115 6
218 6
120 7
210 9
117 0
477.6
414.0
13 4
449 7
388 5
10 8
422 2
360 9
15 2
r 388 3
328 6
19 7
378 5
319 7
31 3
369 9
307 6
1.030
1.064
1.119
1.164
1.169
1.192
85 8
74 9
70 7
68 7
64 3
114 7
105 5
96 6
70 9
63 9
5 4
1
10
41.4
16
40.7
.2
3.2
33
4. 1
4 0
.2
3.9
4 5
4 0
4.3
3.9
4 7
4 9
.1
4.4
115,385
* 57, 920
7.14
115,416
60, 821
'8.34
8,669
3,985
8.48
9,087
4,546
'8.25
9,301
4.844
8.33
8 775
4 657
8.28
10, 023
5,289
8.13
10, 121
5,510
8.09
10 789
6,006
7.98
10, 460
5,985
7.94
9,998
5,389
8.19
9,609
4,785
8.56
9 101
4,322
9.16
9,205
4,341
9.66
*78.0
* 916.6
67.7
1,019.9
2.8
51.5
4.7
83.3
4.8
83.5
39
81.6
3.4
95.8
3.4
111.5
7 4
131 4
8. 1
126.5
5.2
98.7
5.5
76.2
4 2
53 2
5.4
50.3
53
49 3
5.3
6.9
4.4
5.4
6.4
5.4
6.4
7.0
7.4
6.0
(9)
7.3
6.4
(8)
9 275
8 832
4 042
9.99 p 10. 20
r
134.6
130.1
134 6
123.0
114 9
115.0
108 9
7 6
116 2
108.5
87.4
70.2
6 2
51 1
36.2
35
39 0
49.7
10.4
45.2
3.2
.3
3 2
2 5
2.1
2 6
13.5
4
2.3
.2
4 6
14.5
2 8
48 9
33
13.4
2.4
6.7
10.7
34
2 8
36
2 7
.464
.586
.570
.568
.588
.600
.607
.603
.602
.604
.604
.614
.646
.689
702
32,896.2
2, 220. 3
211.6
197.1
245.9
199.7
194.7
186.2
139.2
163.2
173.9
204.1
205.5
264.6
8 421. 5
320 9
207.3
113.6
94.6
s 304. 1
229 8
127. 1
102.7
56 7
2 02
2.00
3 53
3.40
8 5, 647
4,473
3, 357
1 116
1 312 3
.3
6
10 9
1.095
4
74.5
2
.2
289 2
s 383. 0
34
e 75 6
« 29 9
6 45.6
10
2.0
10
4
3 3
1 4
4 09
3 86
3 63
3 38
3 51
3 32
3 64
3 44
3 81
3 67
3 71
3 57
3 42
3 26
6.3
229 8
127 1
102.7
6 1
5.8
36
2.8
2 0
4 64
4.51
4 43
4 06
4 39
4.20
4 10
3 82
3 92
3 64
4 20
3 99
8 4, 651
3 613
2,533
1 080
1 180 8
102.3
3 613
2,533
1 080
103 3
129.6
122 7
125 2
103 2
74 1
81 6
69.2
89.2
75 3
133 0
165 6
2 19
3 22
3 50
3 54
3 16
3 12
2 83
3 02
2 82
2 91
3.04
3.13
2 97
2 69
2 76
2 63
2.12
3.14
3.46
3.42
3.12
2.90
2.88
2.95
2.90
2.86
2.93
3.15
2.95
2.73
2.58
2.57
8667
5614
637
475
162
132 8
61 6
71.2
511
388
123
1.7
.1
.5
1.74
1.55
1.66
801
346
705
1.89
1.84
1.81
r
l
Revised.
» Preliminary.
Includes Hawaii; no monthly data available for Hawaii.
» Average for Jan., Feb., Apr.-July,
Oct.-Dec.
3 Annual total reflects revisions not
4
distributed to the months.
Revised monthly data back to 1971 are available upon
request.
« Crop estimate for the year.
« Previous year's crop; new crop
not reported
7
until beginning of new crop year (July for barley and oats: Oct. for corn).
Nov. 1 estimate
30.0
1.08
8
359
8
1 146
1.6
3 29
3 05
5, 804
190
8
511
388
123
54.3
349 5
223 2
126 4
7
2 209
1,504
329
239
90
.2
66 6
OQ p.
6
185
e 119
e 65
2.8
.3
.7
.5
1.72
1.82
1.63
1.56
657
.4
642
512
131
1.9
2.8
2.9
1.69
1.63
1.59
1.67
1.62
8
9
for 1975 crop.
Dec. 1 estimate for 1975 crop.
Less than 50 thousand pounds.
<?Condensed milk included with evaporated to avoid disclosing operations of individual firms.
§ Excludes pearl barley.
9 Scattered monthly revisions back to 1971 will be shown later.
t Effective March 1975 SURVEY, data are restated to cover different market. Data for earlier
periods will be shown later.
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1973
1974
1974
Annual
January 1976
Nov.
1975
Jan.
Dec.
Feb.
Apr.
Mar.
June
May
July
Sept.
Aug.
Oct.
1 Nov.
i
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Con.
Rice:
Production (crop estimate)
mil bags 9
California mills:
Receipts domestic rough
mil Ib
Shipments from mills, milled
rice
do ..
Stocks, rough and cleaned (cleaned basis), end
of period
mil. Ib
!92.8
U12.4
2,151
1,591
1 925
1 359
109
135
230
138
228
186
186
136
186
174
237
196
281
241
158
113
64
61
85
63
377
121
201
119
112
155
135
123
135
169
163
166
124
102
67
68
48
40
192
167
138
6,021
4,226
7 047
4 816
895
525
640
539
804
599
702
585
389
546
253
491
136
427
92
357
117
240
945
304
2,462
411
1,548
644
411
1,816
3,583
1 788
3 801
1 884
1 788
1,727
1,646
1,387
464
739
437
429
555
268
248
606
226
1,804
564
556
1,065
2,313
545
306
2,343
249
.180
.252
.200
.208
.205
.210
.205
.205
.185
.195
.195
.195
.168
.168
.170
i 26 3
21 4
1.82
i jg 3
11 9
2.99
3.21
11 9
3.07
2.68
25.8
2.47
2.97
16.0
3.08
i i 705
1
432
i i 273
2 179
i j 7gg
Southern States mills (Ark., La., Tenn., Tex.):
Receipts rough from producers
mil Ib
Shipments from mills, milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis) end of period
mil Ib
Exports
do
Price, wholesale, No. 2, medium grain (Southwest Louisiana)
$perlb_.
Rye:
Production (crop estimate)
mil bu
Stocks (domestic) end of period
do
Price, wholesale, No. 2 (Minneapolis) __$ per bu__
Wheat:
Production (crop estimate) total
Spring wheat
Winter wheat
Distribution
mil bu
do
do
do
332
442
164
512
8
8.3
3.02
2.80
2.48
2.74
2.58
2.98
17.9
2.83
2.78
51,978
5
483
5
1 496
1 4Qg
1 1 3QO
.178
1 624
450
453
328
585
927
363
564
1 101
1 101
648
260
388
2320
2126
2194
1,874
403 5
1 372 1
944 0
919 4
100 5
98 3
84 8
82 3
110 4
108.4
72 9
71 3
66.5
65.2
78.2
77.0
69.4
65.3
79.8
77.2
102.2
99.7
113.5
111.2
127.2
125.5
125.3
123.6
119.2
117.8
$ per bu_-
3.43
3.58
5.24
4.74
5.64
4.99
5.38
4.84
4.81
4.42
4.47
4.02
4.48
3.78
4.57
3.76
4.41
3.45
4.25
3.40
4.66
4.01
4.88
4.31
4.99
4.36
4.81
4.29
4.57
3.92
4.32
3.79
$ per bu._
3.64
5.53
5.84
5.64
5.22
5.00
4.78
4.94
4.96
4.39
4.69
5.08
5.01
5.10
4.64
4.29
249 265
4 303
555 269
24.9 157
4 323
M o Qf\4.
20 853
17 653
39 746
42 833
46 375
44, 375
21,156
384
47,430
21, 705
43 927
20,361
371
45718
19, 631
321
20 599
354
19 054
384
19 658
'359
44 272
19 466
47 012
22,681 ' 24,129
432
409
51 162 r 54,067
45, 564
5 505
13 456
4 499
10 563
929
4 499
1 058
820
715
577
516
1,718
4,434
1,119
1,084
999
8.734
8.454
11. 887
11. 059
12. 938
11.775
12. 175
11. 200
11. 488
10.438
11. 025
9.938
10. 388
9.125
10. 363
8.975
9.863
8.550
9.550
8.088
10. 213
8.938
2 355
91 Q
251
2 929
254
2 902
284
3 152
250
2 778
276
2 826
284
2 889
270
2 851
276
2 898
41 89
36 49
46 19
37 72
27 97
36 00
37 20
28 05
36 00
36 34
26 79
36 50
34 74
26 80
36 50
36 08
27 86
38 00
42 80
30.73
37.00
49 48
34.87
37.00
77 fl71
6 402
6 243
6 350
5 540
5 751
6 361
34.75
37.45
38.96
38.23
3.9. 23
39.22
* 12 2
11 1
11 7
12 4
13 4
14 3
R19
595
662
570
648
Stocks (domestic) end of period, total
On farms
Off farms
do
do
do
Exports total including
Wheat only
do
do
flour
127.6
147
90
192
3
1
3
440
661
440
661
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
No. 2, hd. and dk. hd. winter (Kans. City). do
Weighted avg., selected markets, all grades
Wheat flour:
Production:
Flour
thous sacks (100 Ib )
Offal
thous sh tons
Grindings of wheat
thous bu
Stocks held by mills, end of period
thous sacks (100 Ib.)
Exports
do
Prices, wholesale:
Spring, standard patent (Minneapolis)
$ per 100 lb__
Winter, hard, 95% patent (Kans. City) .-do
349
4 755
378
361
745
1,129
398
49017
4,140
20, 223
363
753
735
588
10. 513
9.363
11. 238
10. 213
11.163
10.113
10. 675
9.650
344
3,084
345
3,141
385
3 319
443
3 584
358
3 116
51.82
33.52
31.50
50.21
30.69
46.80
32.93
28.50
48.91
35.98
47.90
36.74
45.23
36.77
30.00
5 376
5 077
4 659
4,627
5 217
5 379
5 084
40.32
45.78
50.28
55.70
56.80
61.19
58.76
49.78
48.36
14.7
17.0
17.6
19.9
19.0
21.2
22.1
21.0
20.0
627
615
614
635
621
758
701
515
41.00
44.12
44.00
45.00
10. 150
8.988
LIVESTOCK
Cattle and calves:
Slaughter (federally Inspected):
Calves
thous. animals
Cattle
do
Prices, wholesale:
Beef steers (Omaha) t
$ per 100 Ib
Steers, stocker and feeder (Kansas City) do._ .
Calves, vealers (Natl. Stockyards, Ill.)__do_ ..
1 808
QA CO1
44 54
49 13
57 19
Hogs:
Slaughter (federally Inspected) thous animals
79 9fi4.
Prices:
Wholesale, average, all grades (Sioux City)
$per 100 lb_. 40.10
Hog-corn price ratio (bu. of corn equal In value
to 100 Ib. live hog)
* 21 7
Sheep and lambs:
Slaughter (federally inspected) thous animals
Price, wholesale, lambs, average (Omaha)
SperlOOlb..
OO
45.01
37.79
36.69
39.76
37.50
38.50
37.50
40.50
45.12
48.88
50.75
46.12
45.00
33, 525
36, 329
3,048
2,971
3,169
2,762
2,845
2,966
2,751
2,704
2,697
2,716
2,940
3,164
2,846
830
759
803
714
815
57
179
798
67
131
783
75
145
794
65
125
652
64
573
70
514
77
515
73
'574
668
79
1,634
803
54
146
722
79
1,972
754
64
134
19, 504
21, 222
1,803
1,776
1,948
1,714
1,762
1,728
1,733
1,802
1,841
1,938
2,126
••282
1,842
330
7
133
369
5
99
.757
48.13
MEATS
Total meats:
Production (carcass weight, leaf lard In) , Inspected
slaughter t
mil Ib
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:
Stocks, cold storage, end of period
..do
Exports..
__do
Imports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (East Coast)
$ per Ib
Lamb and mutton :
Production, Inspected slaughter
..
Stocks, cold storage, end of period
Pork
(Including
T
lard),
production,
mil. Ib
do
Inspected
415
4
110
429
3
141
107
2
276
2
113
.821
.880
.849
.801
.824
.791
.764
32
10
30
9
30
7
31
9
31
10
38
11
36
11
27
12
1 172
9Q9,
942
R64
845
963
1.002
977
396
3
110
359
4
91
319
3
80
1,471
1,191
«.696
.691
.635
.623
.599
.603
.611
.826
486
15
440
14
31
14
31
14
34
12
30
11
34
9
1Q COK
1/4 AAO
1 91^1
1 1RA
1 187
1 m«
1 fUQ
415
53
Revised.
I Crop estimate for the year. » Previous year's crop: new crop not reported
until July (beginning of new crop year).
» Annual total reflects
revisions not distributed
5
to the months.
« Average for Jan.-July and Sept.-Dec.
Dec. 1 estimate of 1975 crop.
• Effective with June 1975 SURVEY, average is restated to represent "market" year (Dec.-
1,762
405
4
102
373
3
97
459
81
76
298
266
3
122
263
2
126
692
m
2™
Nov.).
9 Bags of 100 Ibs.
t Effective September 1975 SURVEY, data are restated to
cover different price (900-1100 Ibs. only). Data for earlier periods will be shown later.
% Scattered monthly revisions back to 1971 are available upon request.
SUEVEY OF CUKKENT BUSINESS
January 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1973
1974
1974
Annual
S-29
Nov.
1975
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
MEATS— Continued
ijjprk (excluding lard):
Production, inspected slaughter. mil. Ib
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
11,879
286
169
398
12, 856
307
104
362
1,062
303
10
31
1,023
307
8
33
1,049
295
9
34
900
301
11
25
922
299
24
31
1,043
343
10
29
876
322
13
26
842
283
19
23
773
228
23
28
755
185
22
20
861
187
19
26
896
'224
17
30
864
269
19
28
1.810
.819
».678
.786
.773
.764
852
.774
.728
.823
.747
.815
.743
.798
.716
.816
.787
.648
.801
.994
.859
1.122
.953
1.079
.974
1.170
1.103
1.177
1.060
1.134
10, 706
800
768
781
676
736
825
831
884
967
942
978
1,067
834
456
275
555
372
456
275
439
267
410
240
370
207
339
178
315
160
347
193
388
248
470
328
542
409
611
'484
407
288
322
204
9.211
.245
.215
.230
.250
.240
.235
.250
.280
.325
.295
.305
.295
.285
.250
15.1
14.7
15.2
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil. lb_.. 10, 649
Stocks, cold storage (frozen), end of period, total
mil. lb_.
431
Turkeys
do
281
Price, in Georgia producing area, live broilers
$ per lb_.
«.239
Eggs:
Production on farms
mil. casesO-. • 185. 0
Stocks , cold storage, end of period:
Shell
thous. cases O . _
34
Frozen.
_.
mil. Ib
43
Price, wholesale, large (delivered; Chicago)!
$ per doz..
.610
256
1.109
1.016
8 183. 5
14.7
15.3
15.4
13.9
15.3
14.6
15.0
14.5
14.9
15.0
14.6
36
54
52
60
36
54
35
54
48
52
32
47
26
44
68
46
82
48
90
51
80
52
72
51
'55
47
40
42
16
38
.598
.630
.688
.637
.574
.607
.516
.613
.617
. 539
.597
.633
.591
.668
.738
248.0
.636
221.1
.982
11.1
1.115
18.7
.840
20.5
.895
17.3
.888
21.7
.848
17.9
.755
17.4
.595
18.7
.625
16.6
.730
12.5
.780
17.4
.775
21.5
.775
18.6
.685
.760
4,146
19, 415
3,003
18, 569
21, 799
4,606
.676
2 141
19,243
2,725
.702
2,771
1,159
148
.690
265
1,550
457
.700
220
1,852
359
.675
246
1,656
253
.680
250
1, 535
331
1,448
277
1,365
244
1,736
473
1,626
418
1,868
391
2,533
543
1,784
123
1,587
141
221
207
202
183
168
245
'300
316
251
459
433
426
433
402
366
336
305
305
296
307
307
314
331
4,931
6,551
1,217
4,620
6,895
1,150
972
510
94
974
409
82
615
297
183
191
195
107
92
119
164
789
11, 538
11, 482
2,583
11, 273
11, 237
2,800
879
876
1,822
469
463
2,800
514
511
3,067
552
549
2,970
693
084
2,836
832
809
2,521
870
852
2,299
961
932
1,946
1,205
1,174
1,275
1,005
996
1,032
936
930
958
3,946
62, 734
13, 672
4,394
2,777
2,307
2, 516
21, 325
17, 648
27, 288
48, 067
17, 501
27, 250
20, 814
9,707
5,200
3 1, 566
29
3 5, 774
1,414
479
68
0
494
112
148
199
54
4
222
62
5
300
54
4
223
1
3
450
0
3
403
0
1
289
226
1
596
75
9
447
118
33
201
21
61
.103
.289
.580
.430
.375
.388
.300
.282
.195
.148
.194
.225
.175
.152
.155
.156
1.574
.205
.207
.194
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
Imports (Incl shells)
thous Ig tons
Price, wholesale, Accra (New York)
$ per Ib,.
Coffee (green):
Inventories (roasters', importers', dealers'), end
of period
__
..
thous. bagsd*
Imports, total
do
From Brazil
do
Price, wholesale, Santos, No. 4 (N.Y.)..$ per lb._
Confectlonery, manufacturers' sales
mil $
Fish:
Stocks, cold storage, end of period A
-mil. lb._
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
sh tons
thous. sh. tons_.
do
do
Prices (New York):
Raw, wholesale
._
.
Refined:
Retail (Incl. N.E. New Jersey)
Wholesale (excl. excise tax)..
Tea, imports
do
do
do
$ per Ib
3,003
4,997
3,889
4,710
2,872
4,469
2,673
4,713
916
909
'1,415 p 1, 872
1.680
.320
2.520
.549
3.546
.592
3.121
.518
2.858
.479
2.679
.410
2.285
.361
2.061
.319
1.650
.259
1.470
.268
1.726
.283
1.611
.232
thous. Ib.. 173, 314 3178,326
7,735
11, 844
14, 297
12, 200
15, 486
13, 648
14, 694
12, 170
9,915
11,276
12, 404
17, 594
13, 940
$ per 5 lb_.
...$per lb_.
.775
.133
FATS. OILS, AND RELATED PRODUCTS
Baking or frying fats (Incl. shortening):
Production!
mil Ib
Stocks, end of period©
do
Salad 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 lb_
3,635. 8
114.6
3, 702. 8
134.1
315.9
122.7
272.2
134.1
299.7
129.2
278.7
119.5
280.4
117.0
307.9
121.1
288.9
112.9
268. 9
113.7
285.1
103.0
299.6
88.7
331.2
93.0
' 402. 8
' 100. 2
337.3
105.6
3,893. 4
74.1
4, 110. 6
96.5
330.5
92.2
323.1
96.5
330.1
84.7
310.6
81.8
319.2
93.9
322.2
97.6
316.5
95.1
326.3
76.9
345.4
79.4
344.2
71.8
330.4
73.3
'368.7
89.1
326.1
104.6
2, 359. 0
61.2
2, 397. 7
64.3
203.9
70.0
187.6
64.3
211.0
65.6
201.2
72.5
198.7
65.8
181.7
75.8
183.0
64.4
180.6
63.6
173.7
66.8
178.7
52.6
216.6
58.6
' 212. 8
'60.2
218.7
65.8
.340
.512
.613
.617
.619
.619
.576
.544
.502
.494
.486
.486
.503
.490
.490
52.7
62.6
40.0
54.2
69.1
32.1
46.8
68.9
25.7
40.8
55.9
23.7
35.3
44.3
22.2
33.8
46.1
22.1
34.6
44.8
24.2
36.2
49.6
23.9
'42.1
'57.2
'24.5
37.7
43.2
33.7
Animal and fish fats:
Tallow, edible:
Production (quantities rendered) !
mil. lb_.
474. 6
575.8
52.2
55.2
56.1
Consumption in end products!
do
558.0
665.0
63.9
58.3
62.7
Stocks, end of period 1_ _
"do
40.4
33.4
32.9
38.6
33.4
Tallow and grease (except wool), inedible:
Production (quantities rendered)!
do
5, 237. 1 5, 526. 6
437.5
432.5
450.3
Consumption in end products!
do
3.032.2 3, 029. 2
220.1
232.3
254.4
Stocks, end of period f
do
355.6
380.3
400.5
380.3
379. 5
2
' Revised.
v Preliminary.
1 Average for Jan.-Sept., and Nov.
Because of a
change in specification, effective June 1974, prices are not comparable with those for earlier
periods; the 1974 average is for 7 mos. (June-Dec.).
3 Reflects revisions not available by
tvvonths.
< Less than 500 sh. tons.
5 Series discontinued.
« Effective with June 1975
PURVEY, average is restated to represent "market" year (Dec.-Nov.).
A Monthly revisions
^ or Jan.-Aug. 1974 are available.
.490
363.9 ' 397. 3 353.8
347.2
399.2
405.2
371.5
354.5
433.0
358. 3
250.7 ' 277. 1 231.7
236.2
237.4
231.8
239.6
230.7
238.0
234.8
308.0 ' 283. 2 289. 0
257.4
361.7
288.5
242.5
318.0
256. 2
327.6
O Cases of 30 dozen.
cfBags of 132.276 Ib.
§Monthly data reflect cumulative revisions
for prior periods.
9Includes data not shown separately: see also note "§".
©Producers' and warehouse stocks.
^Factory and warehouse stocks.
tBeginning June 1974
SURVEY, prices are for cartoned, white, shell eggs to volume buyers, delivered to store door,
Chicago metropolitan area, and are not comparable with those shown previously. Comparable
data back to 1969 are available.
{Monthly revisions back to 1972 will be shown later.
SUEVEY OF CURRENT BUSINESS
S-30
1973
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1974
Nov.
Annual
January 1976
1975
Dec.
Jan.
Feb.
Mar.
Apr.
June
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FATS, OILS, AND RELATED
PRODUCTS- Continued
Vegetable oils and related products:
Coconut oil:
Production, refined^
Consumption in end productsj
Stocks, refined, end of period H§
Imports
mil. Ib
_do
do
do
649.4
901.0
21.1
716.9
540.1
726.0
26.6
542.3
45.5
66.3
28 1
44.8
48.5
56.4
26.6
41.7
53.2
67.6
30.0
47.0
43.1
58.2
26.1
40.5
49.9
68.1
22.6
70.0
53.4
70.7
33.9
53.4
56 1
67 7
27 6
90.8
60.0
71.8
26.9
27.6
59.3
61.8
29.4
38.2
61.4
75.2
28.0
64.6
66.1
81.1
28.6
76.3
77.0
87.8
••36.3
101.6
68.4
78.5
35.2
178.5
do
do
do
do
529 2
529. 5
508.7
44.9
518. 3
500.7
473.0
52.6
40 1
45.6
41.8
53 2
40 1
42.1
40.6
52.6
37.0
41.0
45.1
54.6
34 6
34.1
34.6
56.2
38 6
43.0
38.1
63 8
37.6
38.9
35.4
71.0
40
38
34
85
6
0
8
6
38 9
41.0
37.9
90 3
40.5
38.7
38.0
87.5
35.2
39.5
39.5
65.3
40.3
46.4
42.6
52 A
'39.8
51.1
••47.8
••48.4
41.0
46.4
41.4
42.8
Cottonseed oil:
1 541.5
Production* Crude
-do
1, 330. 2
Refined
.
do
Consumption in end products'*'
do
906.4
157.9
Stocks crude and ref end of period 1f
do
545 0
Exports (crude and refined)
do
3.257
Price, wholesale (N.Y.)
$perlb__
1,512.7
1, 262. 7
832.4
177.4
606.1
.410
138.2
113.0
62 1
166.9
33 8
.495
139.1
117.2
61.5
177.4
75 1
.405
147.6
124.4
60.5
197.7
78 4
.400
137.5
125.5
57.9
210.2
67.3
.355
143.4
117.0
58 1
188.1
96 6
.315
111.6
109.0
56.0
207.9
56.8
.305
105 8
102 4
66 7
173 1
92 6
.265
84.1
93.0
53 8
164.0
17 8
.265
72.3
74.0
56.8
146.2
69 7
.348
76.1
68.0
49.6
126.5
43.7
.378
56.1
73.1
46.7
136.1
28.9
.343
'76.3
'53.6
51.0
r
125. 5
21.3
.323
99.3
74.6
49.8
152.5
46.7
.293
1,209.3 1,355.1
383 8 359.4
1,475.6
368.3
623.9
509.3
555.3
544 3
65.3
.304
674.5
550.9
562.8
567 1
13.1
.340
Corn oil:
Production* Crude
Refined
Consumption in end products!
Stocks, crude and ref., end of period^
Soybean cake and meal:
Production
thous sh tons
Stocks (at oil mills) end of period
do
16, 223. 5 18, 543. 2 1,406.8 1,376.3 1,429.4 1,232.3 1,379.5 1,313.9 It 190- 7
438.4
245 6
496.7
496. 7
513.0
508.3
524 9
529.8
410 8
Soybean oil:
7, 540. 2
Production: Crude
_
_ mil. Ib
6, 508. 9
Refinedt
do
6, 830. 7
Consumption in end products!
do
690 5
Stocks crude and ref end of period 5f do
874.3
Exports (crude and refined)
do
3.277
Price, wholesale (refined; N.Y.)
$ per lb._
8, 704. 9
6,811.5
7, 039. 0
673 6
1,606.7
.366
627.5
511.4
552.1
681 5
111.1
.439
621.4
482.1
516.4
673 6
193.0
.370
651. 3
515.0
553.4
689 6
129.0
.356
555.9
468.6
521.2
633 7
71.6
.327
632.4
497.1
528.2
647 4
116. 1
.301
600.9
497.0
540.3
662.2
57.6
.296
557.6
467 9
527 4
606 7
72.9
.248
557.8
489.6
531.3
530 6
55.7
.243
.278
1,289.9 1,645.2 1, 650. 7
318.8 r 354. 7
396.1
599.8 ' 783. 9
538.3
666.9
604.8 •• 672. 0
560.6 r 568. 0
13.5
43.8
.266
.285
782.8
617.3
606.8
649.8
78.9
.243
.226
TOBACCO
Leaf:
1
U,742
1, 990
Production (crop estimate)
mil Ib
Stocks, dealers' and manufacturers', end of period
r 4, 457
*
4,
457
4,409
mil. lbExportSjlncl scrap and stems
thous Ib 2612, 980 651, 415 ~72,~950~ 68, 264 "57," 141~ 33,510
22,445
2299,946
268, 585
24, 481 33, 650 25,300
Imports, incl scrap and stems
do
' 4, 307
52, 483
33, 694
4,312
r 3, 937
46,669~ "44," 172" 32, 073 ~23~202~ ~39,'452~ 44, 862 "52,'676~ *73," 908"
26, 144 27, 805 28, 566 26, 390 25, 082 25, 229 21, 888 28, 403
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large) , taxable
Exports, cigarettes
4 942
43 968
372
5,155
4,547
51,838
394
3,313
55 902
590 342
5,554
41, 543
millions
do
do
do
59 272
576 173
5,009
46, 901
4 182
44 054
416
3,157
4,473
38, 504
314
4,273
5 092
47, 887
351
3,468
4 793
46 963
354
3,645
7
2, 193
5,632
52, 750
389
4,104
6,383
58, 923
448
5,371
4,165
23 361 22 532 22 965 25 782
193
166
159
115
1 719 1 551 1 548 1,714
24, 921
284
1,678
28, 968
197
1,965
4 464 4 803
49 171 49 477
417
397
3,357
3,623
5 667
46, 301
347
4,170
5 239
50, 378
371
5,294
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value, total 9
thous $
Calf and kip skins
thous skins
Cattle hides
thous hides
Imports:
Value, total 9
Sheep and lamb skins
Goat and kid skins
376 999 339 062
1 886
2 163
16 867
18 428
25 475 26 440 22 674 22 796
140
292
280
161
1 708 1 905 1 663 1 810
24 519 25 093
236
174
1 989 2 045
24 553
230
1 834
84, 300
12 835
1,600
77 500
15 732
583
5 800
1 167
96
3 200
533
25
4 800
1 161
64
5 600
1 515
85
5 800
1 615
119
6 100
1 603
62
5 100
1 162
46
6 300
1 024
56
7,900
1 668
60
6 200
1 096
72
7,000
1 372
106
7,900
1 311
54
1 145
32
$ per Ib
do
.622
.343
.644
.231
.450
.175
.350
.143
.300
.118
.285
.125
.285
.163
.285
.275
.500
.253
.258
350
.253
.350
.253
.350
.258
.350
.280
.350
.308
LEATHER
Production:
Calf and whole kip
thous skins
Cattle hide and side kip
thous hides and kips
Goat and kid
_
_ _ thous. skins
Sheep and lamb
do
1 262
17, 768
16 824
1 430
1 315
1 350
14 504
13 889
1 093
992
1 033
120 104
148 565
11 032
12 759
14 748
12 427
13 574
14 624
16 735
18 473
13 341
16 979
14 714
17 131
16 737
* 184. 6
158.8
139.5
130.9
128.0
125.1
130.9
142.4
146.7
146.7
146.7
163.9
166.8
182.6
452 955
33 184
30 173
33 932
32 274
32 122
33 856
33 745
35 786
39 000
37 984
39 908
45, 096
30 485 32 047
6,446 •• 6, 447
••982
1,053
••432
338
35, 604
8,061
1,119
312
thous $
thous pieces
do
Prices, wholesale, f.o.b. shipping point:
Calfskins, packer, heavy, 9H/15 Ib .
Hides, steer, heavy, native, over 63 Ib
Exports:
Upper and lining leather
thous sq ft
2
Prices, wholesale, f.o.b. tannery:
Sole, bends, light
index, 1967=100..
Upper, chrome calf, B and C grades
index, 1967=100
.450
.263
182.6
«119 5
LEATHER MANUFACTURES
Shoes and slippers:
Production, total
thous pairs
Shoes, sandals, and" play shoes, except athletic
thous pairs
Slippers... ..
do
Athletic
..
do
Other footwear ..
do
Exports
_.
. _
2
2
490 033
Prices, wholesale f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt
index, 1967=100..
Women's oxfords, elk side upper, Goodyear
welt
_
index 1967-100
Women's pumps, low-medium quality do
157
26 071
5 021
876
306
25 775
5 113
924
310
27 002
5 637
923
294
26 196
6 330
974
245
28 581
6 090
870
245
28 829
4 338
713
250
31 400
6,331
1,010
255
316
316
301
402
464
442
406
373
363
349
450
375
160.0
160.0
160.0
162.1
162.1
164.6
164.6
164.6
164.6
164.6
168.1
168.1
168.1
168.1
150 5
132 3
150 5
132 3
150 5
132 3
150 5
132 3
150 5
150 5
150 5
150 5
150 5
150 5
154.3
154.3
154.3
154.3
355 147
85 502
9 890
2 416
25 110
7 027
803
244
24 254
5 035
3,599
3 993
410
140.7
155.1
134 3
122 1
144 0
127 8
111
\
9
r
Revised.
i Crop estimate for the year.
2 Annual total reflects revisions not distributed
to the monthly data.
3 Average for 6Oct.-Dec.; not comparable
with prior periods.
4
6
Average
for
Jan.-July
and
Sept.-Dec.
Jan.-Apr.
average.
Apr.-Dec. average.
7
Dec. 1 estimate for 1975 crop.
T
r
27 657
5 146
925
204
386 636
2
91 166
2
9, 656
2
2 575
do
34 130
9 Includes data for items not shown separately.
1f Factory and warehouse stocks.
§ Effective Oct. 1974 SURVEY, data are restated to exclude stocks of crude coconut oil; comparable data prior to Aug. 73 will be shown later.
% Monthly revisions back to 1972 will be shown later.
SUEVEY OF CURRENT BUSINESS
January 1976
1973
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1974
Annual
S-31
Nov.
1975
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
LUMBER AND PRODUCTS
LUMBER—ALL TYPES 9
National Forest Products Association:
Production, total
mil bd. ft
Hardwoods
do
Softwoods
do
2,194
465
1,729
1,930
424
1,506
2,072
381
1,691
2,148
336
1,812
2,480
395
2,085
2,779
428
2,351
2,849
435
2,414
2,814
492
2,322
2,797
471
2,326
2,914
511
2,403
2,986
489
2,497
3,147
511
2,636
34, 276
6,634
27, 642
2,265
428
1,837
1,978
375
1,603
2, 017
340
1,707
2,164
322
1,842
2 507
389
2,118
2 843
443
2,400
2,820
456
2,364
2,739
459
2,280
2,820
444
2,376
2,851
505
2, 346
3,061
510
2,551
3,097
516
2,581
4,457
459
3,998
5,109
780
4,329
5,160
768
4,392
5,109
780
4,329
5,137
858
4,279
5,123
874
4,249
5,064
842
4,222
5,000
827
4,173
5,052
806
4,246
5,124
836
4,288
5,101
863
4,238
5,165
870
4,295
5,090
849
4,241
5,140
844
4,296
do._ .
do
1,959
9,537
1,668
7,249
98
414
87
361
86
337
112
377
233
536
130
571
113
589
125
671
155
677
151
431
142
422
126
388
131
415
mil. bd ft
do. __
8,936
679
7,367
316
537
352
476
316
657
497
508
443
728
543
635
567
598
462
674
509
682
581
551
532
724
549
693
551
642
592
Production.
.
Shipments.. _ _ _
Stocks (gross), mill, end of period
do
__ _.do _
-,do
9,074
8,874
935
7,777
7,730
982
540
578
1,041
453
512
982
534
476
1,040
550
562
1,028
608
628
1,008
599
611
996
684
703
977
654
627
1,004
590
610
984
619
600
1,003
715
707
1,011
688
691
1,008
548
601
955
Exports, total sawmill products
Sawed timber
Boards, planks, scantlings, etc
.
637
176
462
598
158
440
19
4
15
33
8
25
24
7
17
30
5
25
45
11
34
52
14
38
32
8
24
38
11
27
53
11
43
55
15
40
44
13
31
35
9
26
46
10
36
158.84
139. 09
133. 21
138. 40
146. 90
147. 29
156. 60
169. 67
161. 54
165. 47
169. 76
166. 79
160.09
157. 56
6, 899
344
413
322
401
344
546
373
511
383
599
431
629
427
533
403
569
401
627
391
647
408
583
381
709
378
7, 121
6 960
443
456
350
379
466
517
460
501
549
551
615
633
606
557
586
571
615
637
609
630
599
610
700
712
Shipments, total
Hardwoods
Softwoods
_
do
do
do
_- -.
i 38,658 i 34, 928
6,955
7 008
27, 973
31, 650
1
38,353
7,130
31, 223
Stocks (gross), mill, end of period, total, do
Hardwoods
__
_.do _ _
Softwoods
do
Exports, total sawmill products
Imports, total sawmill products
1
SOFTWOODS
Douglas fir:
Orders, new
Orders, unfilled, end of period
do
do
do.
Prices, wholesale:
Dimension, construction, dried, 2" x 4", R. L.
$per M bd. ft..
Southern pine:
Orders, new. _ . _ _
Orders, unfilled, end of period.. .
Productlon
Shipments
mil. bd. ft
_
__do__do
do
Stocks (gross), mill and concentration yards, end
of period
mil bd ft
Exports, total sawmill products
M bd. ft
Prices, wholesale, (indexes):
Boards, No. 2 and better, 1" x 6", R. L.
1967=100..
Flooring, C and better, F. O., I" x 4", S. L.cT1
1967=100..
Western pine:
Orders, new.
.
Orders, unfilled, end of period
mil bd ft
do
181.86
1
7, 745
405
1
1
1
7, 895
7 775
1
1
1,148
1,309
1 338
1 309
1,258
1,217
1 215
1 197
1,246
1,261
1,239
1 218
1 207
1 195
94, 346
76, 276
2,689
7 626
4,220
3,509
3,115
7,593
5,244
5,175
6,414
3,930
7,595
4,699
7,445
198.2
188.4
158.2
152.0
144.7
147.9
150.8
160.5
174.0
174.7
174.5
170.8
171.5
171.4
176.5
182.0
186.2
229.2
228.5
228.5
228.5
228.5
230.7
230.7
231.8
230.7
225.2
225.2
225.2
220.9
222.0
223.0
10 456
556
8,788
392
551
424
489
392
587
471
507
441
663
496
791
523
720
470
748
484
869
546
740
513
936
560
838
542
725
559
Production
Shipments
do
do
10, 564
10, 455
8 973
8 952
528
587
498
521
465
508
505
537
612
608
753
764
794
773
735
734
805
807
823
773
852
889
895
856
654
708
Stocks (gross) , mill, end of period
do
1 323
1 344
1 367
1 344
1 301
1 269
1 273
1 262
1 283
1,284
1 282
1 332
1,295
1,334
1,280
179 62
151.38
99 66
120 06
126 78
132 83
150 35
154. 31
173. 62
170. 71
145 95
141.17
131. 78
128. 87
127. 30
178 3
51
108 3
25
6.9
22
6 4
25
8.5
9 9
46
8.6
49
91
46
8.0
38
7.6
32
8.6
29
9.3
26
8.0
30
9.4
3.3
8.3
4.4
188 0
184.6
82
193 9
108. 5
19 2
7 0
7.2
19 8
68
6 3
19 2
7 6
7.9
6 6
8.1
17.4
71
8.2
16.3
89
9 4
15 4
85
15.7
8 3
80
8.1
14.9
9 2
8 2
15 9
8 4
9 0
15.4
7 9
7 4
15.8
8.5
8.7
15.7
14.7
Price, wholesale, Ponderosa, boards, No. 3,1" x
12", R. L. (6' and over)
$ per M bd ft
166. 40
HARDWOOD FLOORING
Oak:
Orders, new
_
Orders, unfilled, end of period
mil bd. ft
do
Production
Shipments
_ _ _.
Stocks (gross) , mill, end of period
do
do
do
19 0
6.2
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products.
thous sh tons
Scrap do
Pig iron
_.
do
i 4 052
11 256
15
5 833
8 696
101
296
593
4
470
628
4
28Q
720
2
257
685
7
282
779
10
270
871
13
9Q8
1 065
6
256
1 005
4
270
836
2
271
809
2
202
771
3
228
657
4
185
757
4
Imports:
Steel mill products
Scrap
Pig iron . ..
15 150
391
459
15 970
246
355
1 925
19
41
1 909
23
56
1 801
22
62
1 192
16
26
1 153
20
35
959
27
92
856
27
47
927
55
9
805
53
31
748
28
27
697
34
29
818
903
21
51
i 57 goi i 55 250
1
44 711 1 51*335
i 103 589 1105 483
i 7 092 i g 408
4 436
4 023
8 338
8 290
4 097
3*661
7 767
8 181
4 337
3 595
8 362
7 916
4 087
3,344
7 785
7 597
4 376
3,635
8 169
7 431
4 231
3 428
7 488
7 559
4 000
3,219
6 879
7 920
3 664
3,008
6,324
8 279
3 411
2,443
5 748
8 403
do
do
do
53
Iron and Steel Scraplf
Production __ _
Receipts, net
Consumption
Stocks, end of period
_
thous sh tons
do
do
do
Prices, steel scrap, No. 1 heavy melting:
Composite (5 markets)
$ per Ig. ton.
Pittsburgh district
..
do
76.99
55.95
106. 22 104. 44
83.33
81.00
57.40
104.20 101. 00
72.00
' Revised.
» Preliminary.
i Annual data; monthly revisions 1are not available.
9 Totals include data for types of lumber not shown separately. rf Through March
1971 data are for flooring, B and better, F.G., I" x 4", S.L., beginning April 1971, they are
for flooring, C and better, F.G., 1" x 4" S.L
3 581 r 3 792
2,421 r' 3, 017
6,135 6 703
8 243 r 8 415
"3 907
J>3 277
v 6, 802
»8 784
60.42
59.12
63.54
74.34
64.89
68.61
82.35
80.47
82.06
81.13
56.04
64.00
61.50
63.00
77.50
65.50
69.00
83.50
82.50
84.50
81. 50
56.50
1f Effective Jan. 1975, data reflect expanded sample and exclusion of direct-reduced or
prereduced iron.
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1973
January 1976
1975
1974
1974
Annual
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
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
U.S. and foreign ores and ore agglomerates:
Receipts at Iron and steel plants
do
Consumption at iron and steel plants
do
Exports
do
87, 669 i 84, 676
90,863 »85,256
43,331 48, 029
6,417
7,463
4,611
5,832
7,427
4,760
5,635
4,134
4,245
5,319
2,421
2,712
5,823
2,437
2,975
6,619
5,906
4.01J
8,005
8,454
4,027
8,023
9,455
4,738
7,682
9,070
4,692
8,013
9,116
3,472
7,471
7,645
4,534
6,160
6,850
4,226
3,062
132, 905
137, 073
2,747
128, 306
129, 078
2,323
11. 449
9,766
265
12,328
9,177
356
6,988
9,771
98
5,205
9,539
9
5,684
10, 672
95
8,944
9,781
152
12, 989
9,182
297
12, 583
8,531
232
12,495
7,825
232
11, 342
7,949
192
10, 118
8,419
300
9,423
8,279
395
8,571
7,958
333
do
do
do
do
59, 905
10, 876
45,990
3,039
57, 662
9,143
45, 247
3,272
56, 625
10, 711
42, 089
3,825
57, 662
9,143
45, 247
3,272
56, 622
10, 536
42,789
3,297
54, 949
13, 422
38,468
3,059
52, 877
16, 809
33, 480
2,588
52, 299
17,444
32, 644
2,211
55,750
17, 014
36, 450
2,286
57, 594
14, 299
40,527
2,768
61, 166
12,916
45, 197
3,053
63,855
11,723
48, 676
3,456
66, 095
11, 549
50, 376
4,170
66,600
10, 859
51,521
4,220
52, 133
4,346
do
916
851
103
112
79
40
108
138
116
84
77
88
51
112
43
Pig iron:
Production (excluding production of ferroalloys)
thous. sh. tons-. 1100, 837 i 95, 909
Consumptlon
do
99, 816 i 96, 792
Stocks, end of period
do
i 1, 215
»763
7,250
7,369
787
6,731
6,715
722
7,350
7,372
709
7,116
7,248
656
8,071
8,050
766
7,432
7,398
828
6,990
6,915
886
6,239
6,236
944
5,968
5,884
1,059
6.031
6,049
1,120
Stocks total end of period
At mines
At furnace yards
At U.S. docks
Manganese (mn. content), general imports
Pig Iron and Iron Products
Price, basic furnace 1f
$ per sh. ton..
Castings, gray iron:
Orders, unfilled, for sale, end of period
thous. sh. tons_Shipments total
do
For sale
do
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous. sh.tons..
Shipments total
do
For sale
do
6,245
6,292
r 6, 286 "6,296
' 1, 300 f 1,330
75.24
122. 61
155. 75
169. 40
179. 88
179. 88
179. 88
182. 38
182. 38
182. 38
182. 38
182. 38
182. 38
182.38
1,«J«
17, 047
9,008
1,416
15, 661
8,664
1,343
1,224
653
1,416
969
528
1,464
1,078
576
1,380
997
535
1,393
1,084
567
1,249
1,144
575
1,137
1,048
535
1,094
1,019
512
1,105
858
459
1,096
972
526
'1,006
'1,106
'577
981
1,191
609
147
1,031
616
133
912
553
135
77
42
133
59
33
116
66
37
112
59
33
103
55
34
91
63
37
87
62
36
81
61
35
80
50
29
81
57
36
'72
'66
'39
72
73
44
145,720
i 114. 5
11,614
111.1
10, 960
101.4
11,584
107.2
10, 862
111.3
11. 980
110.9
10, 667
102.0
9,864
91.3
8,744
83.6
8,370
77.5
8,648
80.0
9,295
88.9
9,214
85.3
1, 527
2,091
1,739
1,569
169
144
1,527
170
147
1,428
182
157
1,424
160
134
1,295
181
146
1,232
183
147
1,133
174
138
1,081
165
132
1,034
132
106
957
126
103
'881
'161
'128
831
177
144
1111,430 i 109,472
5,981
182. 38
182. 38
8,709
83.3
8,846
81.9
Steel, Raw and Semifinished
Steel (raw):
Production
thous sh tons
150,799
Index
daily average 1967 = 100
118.5
Steel castings:
Orders, unfilled, for sale, end of period
929
thous. sh. tons.Shipments, total
do
1,894
For sale, total _
do
1,566
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous sh
By product:
Semifinished products
Structural shapes (heavy) steel piling
Plates
Rails and accessories
do
do
do
do
Bars and tool steel total
Bars: Hot rolled (incl. light shapes)
Reinforcing
Cold
finished
do
do
do
do
Pipe and tubing
Wire and wire products
Tin mill products
do
do
do
Sheets and strip (incl. electrical), total. . do
Sheets: Hot rolled
do
Cold rolled
do
8,431
7,353
8,324
6,978
7,204
6,955
6,394
6,178
5,757
6,327
7,632
6,377
5,703
5,509
7,210
10, 919
1,785
405
537
857
152
343
489
791
140
373
608
843
165
334
515
855
160
374
594
939
175
330
566
904
184
319
446
869
184
292
381
705
172
279
343
643
171
291
380
618
146
351
412
685
157
324
325
589
152
284
297
516
146
i 18, 170 i 18,514
i 10, 763 11,061
i 5, 135 i 5, 089
2,251
i 2, 161
1,447
884
381
174
1,309
838
324
139
1,440
931
300
201
1,257
800
295
156
1,278
801
321
149
1,197
737
309
145
1,089
648
310
126
990
579
293
113
944
532
310
98
1,034
610
320
99
1,231
776
331
119
1,038
585
342
104
926
549
285
87
9,133
3,245
7,316
9,844
3,171
7,528
794
251
549
758
192
442
877
213
664
771
182
512
820
187
506
790
187
422
740
171
364
676
179
465
612
148
489
624
170
453
622
192
452
627
203
443
542
170
388
49, 370
16, 886
20, 377
i 44, 991
15, 774
18, 275
3,438
1,175
1,416
2,890
1,107
1,114
3,140
1,194
1,196
2,390
939
886
2,330
994
823
2,375
897
1,006
2,221
835
948
2,318
846
989
2,128
750
914
2,611
907
1,148
3,532
1,209
1,572
2,677
928
1,148
2,435
819
1,083
do
do
do
do
22, 705
11,405
6,459
23, 217
i 23, 179
i 12, 270
i 6, 249
18, 928
5,314
2,821
1,310
4,854
4,873
2,635
1,149
3,045
3,711
2,375
914
3,776
3,440
2,091
1,003
4,686
21,218
2629
2334
2 1, 335
2 1, 130
2515
2279
2
1, 189
Rail transportation
do
Machinery, industrial equip., tools
do
Containers, packaging, ship, materials ...do
Other
do
3,228
C,351
7,811
i 30, 254
3,417
6,440
8,218
130,771
851
1,494
1 822
6,692
969
1,649
1,814
6,479
778
1,345
1,313
5,315
686
1,083
1,490
5,193
2226
2382
2468
2 1, 787
2232
2354
2414
2 1, 589
11.2
83.6
81.2
13.7
81.5
79.0
12.9
6.9
6.5
13.7
6.0
5.2
13.8
6.0
5.9
13.9
5.1
5.0
13.8
5.1
5.2
13.3
5.0
5.5
12.7
4 5
5*.l
12.4
4.9
5.2
12.0
4.3
4.7
11.7
4.7
5.0
12.0
5.8
5.5
11.3
5.0
5.7
10.7
4.1
4.7
6.6
7.4
7.0
7.4
7.6
7.9
8.3
8.4
8.0
7.7
7.8
7.6
'7.1
6.7
8.1
5.6
9.4
6.0
9.9
6.3
10.2
6.4
10.6
6.3
10.8
6.4
10.8
6.1
9.9
5.8
9.7
6.1
By market (quarterly shipments):
Service centers and distributors
Construction Incl maintenance
Contractors' products
Automotive
tons
Steel mill products, Inventories, end of period:
Consumers' (manufacturers only).. mil. sh. tons__
Receipts during period
do
Consumption Juring period.
do
Service centers ( wareh ouses) t
do...
i 5, 749
7,081
9,678
1,689
Producing mills:
7.7
7.7
7.7
7.7
In process (ingots semifinished etc )
do
9.7
5.1
5.3
5.6
5.6
7.4
Finished (sheets, plates, bars, pipe, etc.). do.. .
' Revised. 2 » Preliminary.
» Annual data; imonthly sr quarte rly re vis ons are not
available.
For month shown.
lEflective May 1973 SURVEY, prices are in terms of dollars per short ton.
f Revised series. Beginning in the Nov. 1974 SUBVE Y, steel m 11 inventories at service ceriters
*
10.1
6.3
reflec t (beginning 1967) new sairiple pane1 for the (Census "Wholesal e Trade Report" and (beginni ng 1962), revised unit pric es for co nverting value of merchan t wholesalers' iro n, steel,
etc., nventori es to tormage eqilivalent. Monthly revisionis for 1962-72 are on p. S-32, June
1975 £SURVEY.
SURVEY OF CURRENT BUSINESS
January 1976
Unleaa otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1*75
1974
1974
Annual
S-33
Nov.
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
Imports (general):
Mptnl and alloys crude A
Plates, sheets, etc
Exports:
Metal and alloys crude
Plates sheets bars etc
1
1
4,903
1, 190
405
89
416
76
394
89
324
82
347
97
326
100
327
86
302
92
310
80
308
91
300
99
311
104
do
do
507.6
57.3
509.0
45.3
47 .4
5.8
42.3
4.3
41.9
5.1
37.4
3.1
30.7
3.3
31.5
3.6
25.5
4.1
34.9
3.6
26.7
6.4
43.5
5.0
56.4
6.0
37.8
5.8
45.3
7.4
do
do
229.6
215.1
207.8
234.9
9.2
20.0
12.8
17.9
4.8
19.4
4.9
14.7
3.6
12.7
4.5
18.0
13.4
15.2
8.6
13.7
4.8
14.2
20.9
13.6
13.7
17.5
25.2
15.6
36.8
13.0
.2533
.3406
.3900
.3900
.3900
.3900
.3900
.3900
.3900
.3900
.3900
.4042
.4100
.4100
.4100
14,568
10, 900
6,741
2,026
13,502
10, 466
5,626
1,760
870.4
693.8
362.8
127.9
764. 0
616.3
342.7
100.5
739.6
640.8
343.0
121.2
715.8
569.2
303.8
107.6
678.8
524.3
261.3
107.3
717.4
575.5
296.6
114.6
724.4
575.1
308.3
109.4
812.3
608.7
332.7
109.2
811.8
646.5
369.7
93.3
847.2 ••r 877. 1
665.9 692. 3
393.4 ' 385. 4
111.6 ' 123. 5
896.1
674.2
362.0
140.1
4,869
5,156
5,535
5,589
5,866
5,940
6,092
6,086
6,070
6,013 ' 6, 014
5,963
135.4
148.6
127.2
21.4
33.0
134.7
139.7
119.8
19.9
33.0
131.1
148.6
131.5
17.0
30.0
117.6
129.0
112.4
16.6
28.0
117.4
128.4
114.4
14.0
27.0
123.0
125.7
115.1
10.5
29.0
126.7
127.3
115.1
12.2
24.0
111.3
120.2
108.5
11.6
25.0
95.3
105.9
96.6
9.3
23.0
114.3
111.0
96.6
14.4
Price, primary Ingot, 99.5% minimum.. .$ perlb..
Alumlnum products:
Shipments:
Ingot and mill prod, (net ship.)
Mill products total
Sheet and plate
Castings
4,529
1, 147
..mil. lb..
do
do
do
Inventories, total (Ingot, mill prod., and scrap),
5,156
4,366
end of period
mil. lb._
Copper:
Production:
Mine, recoverable copper
thous. sh. tons-. 1,717.9 1i 1,597.0
11,868.6 1,654. 7
Refinery primary
do
»1,698.3 11,420.9
From domestic ores
do
170.2 i 233. 8
From foreign ores
do
444.0
482.0
Secondary, recovered as refined
do
Imports (general) :
Refined, unrefined, scrap (copper cont.).. do
Refined A
do
Exports:
Refined and scrap A
do
Refined
do
607.7
313.6
51.4
28.3
44.5
15.1
24.9
14.9
24.2
11.3
20.0
3.8
21.0
2.6
16.2
2.8
35.8
13.1
15.2
2.9
26.8
8.4
38.1
21.0
42.4
25.3
31.9
19.1
342.0
189.4
309.9
126.5
29.5
13.3
32.8
11.3
41.5
19.7
41.7
20.8
32.0
14.3
43.1
24.9
35.1
21.3
26.0
13.5
19.3
9.8
20.1
6.7
20.4
11.5
20.0
12.5
17.5
9.0
2, 444
157
108
2,160
374
179
142
297
161
108
374
179
109
431
188
99
451
192
104
494
196
118
513
192
126
509
174
128
511
173
100
530
180
.5948
.7727
.7625
.7357
.6903
.6418
.6418
.6418
.6378
.6314
.6248
.6379
.6379
.6379
.6379
3,319
3,032
780
2,813
2,647
667
603.0
i 654. 3
1663.9
631.5
53.5
56.4
54.4
56.8
55.5
47.3
52.6
43.6
58.4
60.0
55.9
46.3
53.2
51.6
50.7
45.6
37.7
46.0
48.0
47.4
50.6
55.6
'56.3
59.8
48.7
213.6
1,599. 4
15.3
136.0
20.0
111.3
ioo;a
19.0
14.4
95.5
20.8
95.6
14.8
100.7
7.7
97.2
16.0
90.7
10.0
86.2
12.9
108.6
10.6
114.7
20.1
123.6
20.6
157.6
187.1
193.3
187.1
177.1
179.2
161.8
193.8
188.6
196.3
194.7
190.7
195.1
193.6
26.1
124.1
37.3
i 166. 6
24.6
167.8
37.2
154.5
54.9
160.0
73.0
144.1
96.1
136.0
101.1
120.7
102.9
122.5
109.3
115.5
110.0
115.9
99.3
116.1
85.6
114.1
76.8
121.1
85.3
.2253
101.3
.2450
85.3
.2450
83.2
.2450
81.5
.2450
92.2
.2450
89.5
.2450
77.9
.2334
77.4
.1900
80.8
.1900
84.4
.1956
79.5
.2000
88.5
.2000
.2000
4,480
5,877
Ig. tons..
45, 845 139,602
do .
18,897
do... » 20, 477
i 2, 012 » 1, 989
_ do
do .. i 74, 640 i 64, 742
do - i 58, 142 151,611
578
3,739
895
145
4,100
3,390
466
4,302
1,130
230
4,215
3,000
76
7,807
1,090
225
3,810
3,225
572
2,386
1,040
180
4,770
3,525
1,019
3,360
1,065
240
4,765
3,920
521
5,777
1,130
195
4,975
3,790
622
2,342
1,040
205
4,325
3,275
0
3,361
1,005
210
4,240
3,130
848
1,725
820
155
3,750
2,970
183
2,300
1,050
175
4,230
3,050
508
3,272
1,095
105
4,450
3,250
982
3,679
0
3,719
57
10, 205
3. 7096
301
10,442
3.5187
1,536
11, 685
3. 6376
92
12, 910
3. 7203
596
10, 170
3. 6604
96
10, 812
3. 5410
341
253
11,062 10, 874
3. 4254 3. 4248
67
9,019
3.3332
153
8,989
3.3185
48
9,103
3. 2277
320
9,727
3. 2195
Copper wire mill products (copper cont.)---do
Lead:
Production:
Mine, recoverable lead
.thous. sh. tons..
Recovered from scrap (lead cont.)
do
Imports (general), ore (lead cont.), metal. ..do
Consumption total
do
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content), ABMS
thous. sh. tons-.
Reflners' (primary), refined and antlmonlal
(lead content)
thous. sh. tons,.
Consumers' (lead content)^
..do
Scrap (lead-base, purchased), all smelters
(gross weight).
thous. sh. tons..
Price, common grade, delivered
$ per lb
Zinc:
Mine prod., recoverable zinc
Imports (general) :
Ores (zinc content)
Metal (slab, blocks)
1
280.5
1,541.2
1
84.3
.1628
1
513
522
144
439
471
131
8,415
10, 442
3. 9575
thous. sh. tons..
478.8
U99.9
41.5
41.1
42.3
39.4
41.8
40.5
40.5
39.7
37.1
39.3
'37.6
39.7
do
do
199.1
588.7
240.0
539.5
31.5
46.4
22.0
40.7
22.1
40.1
10.5
18.4
13.5
21.0
12.1
16.2
14.4
14.9
12.2
24.2
12.1
17.5
7.7
22.6
10.5
42.0
9.4
58.4
do
do
i 129. 7
i 298. 3
i 127. 1
l 258. 2
9.9
23.4
6.6
20.8
5.8
23.0
6.0
21.8
6.3
21.2
5.1
21.2
6.2
21.0
8.2
17.9
8.5
18.1
8.3
18.3
7.9
19.2
9.7
20.8
38.3
6.7
68.4
.9
39.6
5.5
67.3
2.2
38.6
4.2
70.6
.7
30.1
4.0
68.3
1.6
27.6
2.1
72.1
(')
25.3
1.5
67.9
<•)
25.6
2.4
83.2
.1
29.1
3.1
94.1
(»)
28.8
4.7
94.8
.1
Slab zinc: 1
Production (primary smelter), from domestic
47.0
45.4
45.8
and foreign ores
thous. sh. tons.. i 583. 5 i 655. 2
178.5
»83.2
4.5
4.5
6.3
Secondary (redistilled) production
do
90.5
76.3
78.9
Consumption, fabricators.
do .. 1 1, 503.9 11,287.7
14.6
19.1
.7
.8
Exports
do
1.1
Stocks, end of period:
122.9
30.9
42.9
120.8
64.4
Producers', at smelter (21) O
do
1114.3 i 210. 7 183.3 196.4
192.3
Consumers'
do
.3594
.2066
.3923 .3924
Price, Prime Western
$perlb..
.3915
f
Revised.
» Preliminary.
i Annual data; monthly revisions are not available.
» Less than 50 tons.
A Effective Jan. 1974 includes items not covered in earlier periods: Aluminum—pipes,
tubes, blanks, etc.; copper—imports of alloyed refined, and exports of ores, concentrates,
82.8
.1946
4,680
3,525
3,407
9,979
2. 2748
Consumption (recoverable zinc content):
Ores
Scrap, all types
.6379
496
524
132
do...
do
$ per lb_.
Exports, Incl. reexports (metal)f
Stocks, pig (Industrial), end of period
Price, pig, Straits (N.Y.), prompt
111.4
106.4
96.9
9.5
425.6
199.9
Consumption refined (by mills etc )
do
Stocks refined end of period
do
Fabricators'
do
Price, electrolytic (wlrebars), dom., delivered
$ per lb..
Copper-base mill and foundry products, shipments
(quarterly total) :
Tin:
Imports (for consumption) :
Ore (tin content)
Metal, unwrought, unalloyed
Recovery from scrap, total (tin cont.)
As metal
Consumption, total
Primary
118.5 ' 128. 4
104.3
116.4
94.7
108.4
9.6
8.0
.4100
17
3. 2403
3. 0302
8.3
53.8
2
67.4
54.0
73.5
61.0
90.5
108.6
108.0
115.7
86.0
116.0
92.3
90.6
126.8
95.3
161.4
147.2
114.0
103.3
178.8
.3893
.3890
.3895
.3889
.3892 .3890
.3894
.3895
.3893 .3894
.3911
blister, etc.
§ All data (except annual production figures) reflect GSA remelted zinc and
zinc purchased for direct shipment.
d" Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.
f Effective with the Aug. 1974 SURVEY, data revised to omit exports of wrought tin and
tin alloys.
O Producers' stocks elsewhere, end of Dec. 1975, 22,300 tons.
60.7
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated in footnotes below, data
through 1972 and descriptire notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1973
| 1974
January 1976
1974
Annual
Nov.
1975
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
METALS AND MANUFACTURES—Continued
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
orders (domestic), net, qtrly 9
mil. $
Electric processing heating equip
do
Fuel-fired processing heating equip
do
128.6
19.9
75.8
v 154. 3
23.8
P 91 1
Material handling equipment (industrial):
Orders (new) index seas adj H
1967 — 100
190.3
202.7
150 4
151 1
126 8
133 2
133 7
127 2
125.9
126.1
133 5
132 6
179 0
151.9
21, 387
21, 917
22, 661
26,048
1 955
2,482
2 155
2,542
1,626
2,195
1,690
2,233
1 549
2 148
1 431
1,946
1,199
1,762
1,046
1,496
802
1,223
825
1,029
1,067
1,249
1,079
1,344
970
1,076
52, 014
55 124
4 247
4,062
3,756
3,509
3 551
3 224
3,250
2,781
2,011
2,479
2,557
3,033
2,450
149 7
176 5
165 7
151 5
147 1
150 1
141 9
131 6
132 2
134 6
136 3
144 6
147 8
147 8
145 1
139.6
167.8
185.5
167.2
172.5
170.8
161.8
164.6
165.2
162.2
164.2
166.3
161.6
167.4
166.1
126.9
146.6
161.5
162.9
165.0
166.9
167.8
168.4
168.7
169.4
170.2
170.5
170.6
170.8
172.0
mil $
do
do
do
do
1 825 45
1, 550. 40
1,073 75
935. 05
1 453 7
2 017 05
1,715.65
1 445 85
1, 241. 35
2 025 2
do
do
do
do
do
787 20
717 20
427 25
388 05
620 6
Industrial trucks (electric), shipments:
Hand (motorized)
number
Rider-type
do
Industrial trucks and tractors (internal combustion
engines) shipments
number
Industrial supplies, machinery and equipment:
New orders index seas adjusted
1967—69 — 100
Industrial suppliers distribution:
Sales index, seas, adjusted t
1967=100
Price Index, not seas. adj. (tools, material handling
equip., valves, fittings, abrasives, fasteners,
metal products, etc.)* .. _
1967=100
Machine tools:
Metal cutting type tools:
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
Tractors used in construction, shipments, qtrly:
Tracklaying, total
units 1 124, 872
mil. $
690. 6
2
Wheel (contractors' off-highway)
units
6 273
mil. $.. 2244.8
Tractor shovel loaders (integral units only), wheel
and tracklaying types
units
53 608
1
939. 5
mil. $
Tractors, wheel, farm, nonfarm (ex. garden and 1
construction types), ship., qtrly
. units . 212,072
mil.$__ 1,322.8
36 7
4.2
23 3
59 30
90 95
45.15
74. 55
128 90 164. 30
110 05 138. 20
21302 2 025 2
485 20 7_ 11 30
405. 85 T— 14 50
584 70
51 60
621 80
48 35
521 2
559 9
18 15
12.85
56 85
49.45
521 2
40.8
19.2
9 8
36 6
9 9
17 7
46 65
61 85
67 75
40.90
51.05
55.75
123.35 151. 90 178.55
103.55 124. 60 147.25
1 969 6 1, 864. 4 1,747.7
15 55
8.90
52 80
44 75
484 0
15.95
10.45
64.65
53.60
435.3
17.35
13.05
65 00
52.80
387 6
81.60
82.45
76 80
73.60
60.10
67.35
177. 10 171. 20 179 . 70
150. 20 139. 15 154. 10
1 647 4 1,557.8 1 460 6
19.25
14.20
43 10
36.95
363 8
19.35
12.50
45.15
39.50
338.0
36 25
27.35
39 90
34.85
334 4
33 6
6.2
12 3
72 80
76 95
58.85
65.30
149 05 121. 85
101.
95
116 80
1 388 5 1, 339. 4
17 45
15 00
33 35
27 65
318 5
29.95
24.60
51 80
43.20
296 6
91 60 r 89 55
85.45 ' 77*. 95
170.00 r!59.45
143.10 T 130.50
1 261.0 rl 191.1
19.70
17.35
40.75
34.45
275 6
r
30 20
r
26. 85
r
47 55
r
3
^23,623
i 835. 1
2 5 600
2255.6
6,487
280.6
2 1, 228
265.0
5,611
276.5
1 219
73.6
5,570
293.1
1 3^9
86.8
4,732
260.6
1,070
71.9
8 51 573
* 1,135.1
5 13 131
c 327.5
10, 203
280.5
10,871
•• 323. 4
8,519
256.1
« 233, 842
6 1,785. 3
«57,987
« 501. 9
61,971
582.2
65,411
644.7
42 75
r 258 2
159.3
P 82.70
P 74.85
P137. 60
P108. 35
P 1,136.2
p 21.00
* 18.25
P 43.30
v 35.90
P 235.9
1, 766
395.2
••43, 902 3 24, 937
464.6 3 288. 8
ELECTRICAL EQUIPMENT
43 453
44 408
3 960
3 811
2 868
2 504
2 550
2 570
2 487
2 463
2 865
3 573
4 432
4 613
Radio sets, production, total marketer
thous. . 50, 198
Television sets (incl. combination models), production, total market cf
thous.. 17,367
43, 993
4,058
« 3, 940
2,514
2,143
«2,653
3,034
2,380
* 3, 072
3,418
3,178
* 3, 696
3,271
2,564
e 2, 593
15, 279
1,297
« 1,029
779
729
«762
769
751
<943
765
919
« 1, 293
1,069
878
6980
1,858 » 1, 664
264.7
259.6
' 228. 2 192.7
147.6
r 179. 2
201.8
145.4
228.2
343.5
223.0
262.8
r
248.2
193. 2
185.6
r 155. 8
453.7
1,754
264.1
176.1
138.4
137.1
271.5
210.6
300.7
210.0
1,970
337.4
186.8
160.8
150.0
339.1
207.2
315.6
215.6
2,060
378.8
211.8
164.2
160.2
338.9
216.9
319.8
208.4
»2 549.4
2,174
446.5
207.8
141.6
154.6
390.0
212.8
354.4
198.2
2,367
343.5
229.0
183.7
186.2
486.4
234.9
384.2
234.0
2,270
147.0
195.4
191.3
176.6
516.3
276.4
403.4
250.9
101,690.1
2,106
71.6
227.1
178.7
178.6
417.6
272.4
424.3
288.1
2,243
27.4
253.1
206.5
187.2
464.8
242.9
480.5
345.8
2,246
101.0
318.1
214.6
198.3
456.6
184.8
429.1
315.5
1,577
60.3
247.6
179.0
156.2
304.7
91.5
296.2
218.7
1,801
223.3
259.7
178.8
183.7
360.9
83.8
279.3
202.9
78 4
114 2
204 5
82 7
141 4
233 8
79 3
134 0
268 1
79 0
125 0
234 3
85 5
151.0
207 8
92 8
118^7
226 2
96 5
134.3
206 8
121 4
147.0
225 2
148.8
142.8
212.6
124 9
146.7
176.3
Batteries (auto replacement) shipments
thous
Household major appliances (electrical), factory shipments (domestic and export)* 9
thous..
Air conditioners (room)
do
Dishwashers
do
Disposers (food waste)
do
Ranges
do
Refrigerators
do
Freezers*
do
Washers
do
Dryers (incl. gas)
do
Vacuum cleaners
do
35,046 831,996
5,346
4,564
3,702
'3 320
2,974
r2 553
3,430
2,925
6,774
5 982
2.415
3 220
' 4, 948
5,504
4 256
»• 3 584
1
9 124
8 470
1,915
140.9
248.9
»• 183. 8
r 191.2
339.9
302. 3
•• 249. 7
221.8
589 1
r
GAS EQUIPMENT (RESIDENTIAL)
Furnace^ gravity and forced-air shioments thous
Ranges, total, sales
'
do
Water heaters (storage) automatic sales
do
1 720
2 481
3 080
1 476
1 950
2 569
111 2
136 3
178 5
92 5
139 6
178 3
86 5
95 8
215 1
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production J
thous. sh. tons..
Exports _
do
Price, wholesale, chestnut, f.o.b. car at mine
$ per sh. ton..
Bituminous:
Production 1.
_
t h n n s sh
tnn<!
6,830
717
16,617
735
610
104
••625
89
520
39
445
44
540
32
270
68
470
15
525
66
460
89
530
45
495
102
595
56
'550
21
575
46. 428
20.044
29. 972
41.711
41.711
41.711
41. 711
41.711
41.711
46. 428
46. 428
46. 428
46. 428
46. 428
46. 428
46. 428
5Q1 73ft
Ififtt dOfi
r 33 7H9
3Q QSn
54 885
51 135
51 am
53 135
55 37ft
55 73(1
45 5fift
4Q. .345
55. 660
61.000
53. 010
f
Revised.
p Preliminary.
1 Annual data; monthly or quarterly revisions not avail.
2 Excludes figures for rubber-tired dozers.
3 For month shown.
< Data cover 5 weeks;
other periods, 4 weeks.
«Beginning 1st qtr. 1974, tractor shovel-loader class excludes
shipments of tractor shovel-loader/backhoes (front engine mount); of this type, data for the
tractor chassis only are now included in the wheel tractor
class (year 1974 data, 22,235 units
7
valued at $153.1 mil.).
« Data are for 6 weeks.
Reflects unusually large cancellations
for Nov. 1974, mostly in the automotive industry. 9 s Effective 1974,
the total includes ship10
ments of trash compactors and dehumidifiers.
Jan.-Apr.
May-July.
{Effective
June 1973 SURVEY, index revised back to 1970.
IfRevised data for Jan. 1971-Apr. 1973 are in the Jan. 1975 SURVEY. Subsequent revisions
(beginning Jan. 1974) incorporate gross new orders from all reporting groups, comparable
with data prior to 1974. See Aug. 1975 SURVEY.
^Effective Jan. 1973, data reflect total market as follows: Sets produced in the United States,
imports by U.S. manufacturers for sale under their brand name and, beginning 1973, sets imported directly for resale.
9 Includes data not shown separately.
* Price index (Natl. and Southern Industrial Distributors Associations), based on U.S.
Dept. Labor prices of 10 industrial supply/equipment prod, groups weighted according to
survey of Assn. members' distributors sales (series avail, back to 1967). Appliances (Assn.
of Home Appliance Manufacturers).
JMonthly revisions back to 1972 will be shown later.
January 1976
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1974
|
Annual
S-35
1975
1974
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
4,647
7 593
363 0
370 1
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL— Continued
bituminous — Continued J
Industrial consumption and retail deliveries,
556 022
total 9
thous sh tons
Electric power utilities
do
386, 879
Mfg. and mining industries, total
do.
160, 827
Coke plants (oven and beehive)
-_do__ . 93, 634
552 709
390, 068
153, 721
89, 747
44 598
32, 002
8,200
Stocks, Industrial and retail dealers', end of period,
total
thous. sh. tons •• 102,200
Electric power utilities .. -_
do
85,512
Mfg. and mining industries, totaL
do
>• 16,398
Oven-coke plants
.
do
6,875
Retail deliveries to other consumers..
Retail dealers
_ do
.
do
Exports
Price, wholesale*
do
Index 1967—100
43753
49 669
35 547
13, 001
30 333
13021
7,295
45 725
31 982
13, 052
7,031
47 396
32 833
13 860
6,581
47 521
34 961
11 605
6,135
7,880
7,427
8,840
820
950
1,121
690
703
396
95, 528
82, 631
109,192
95, 528
82 631
12 617
6 037
95, 158
81 693
13, 252
7 140
97, 164
80 026
12,617
6 037
11,761
93 272
15, 576
7 946
16,813
8 010
97, 904 102, 745
80 859 85 692
16 766 16, 793
8 980
8 665
42 683
30 128
12 268
47 485
36 186
10 811
49 091
37, 759
6,627
11,012
6,553
43 818
32 361
7,282
44 887
33 120
U 429
7,081
283
335
486
318
378
11,077
6,276
109,796 115,041 109, 313 108, 680 112,102
92 054
17 428
9 603
96 839
17 796
10 009
92 995
15 884
8 126
93, 051
15, 204
7,340
96 621
15 039
7 003
290
280
344
280
213
325
279
260
314
379
434
425
442
52, 870
59, 926
339. 5
6,744
2 587
435 4
4 254
435 9
4,470
5 653
391 8
6,159
390 8
7 Oil
389 6
6 269
386 0
4 691
382 0
5,859
377 3
4 529
372 4
370 2
67
r 62
4 250
4,527
2,198
222.5
402 5
415 4
COKE
Production:
Beehive
Oven (byproduct)
Petroleum coke§__
Stocks, end of period:
Oven-coke plants, total.
At furnace plants.
At merchant plants
Petroleum coke
thous. sh. tons
do
.do
...
...
Exports...
2829
2792
64
68
26,458
60, 737
24, 749
4,427
1,975
62
4 067
2,192
4,750
2,178
1,965
67
5 324
2 104
5,030
2,043
56
5 052
2 031
52
4 765
2,140
52
4 532
2 259
do
do
do
do
1,184
1,113
71
1,995
935
910
25
1,084
1 064
1 033
31
1,243
935
910
25
1,084
1 054
1 025
29
1,077
1 262
1,219
43
1,090
1 449
1 372
70
1 142
1 733
1 634
99
1,191
2 261
2 131
131
1 211
2 889
2 741
148
1 216
3 522
3 323
199
1 283
do
1,395
1,278
107
65
105
127
109
132
133
138
1 088
231 0
1 339
223 0
404.9
1 097
228 6
1 341
230 2
384 3
83
1 181
232 2
368. 3
82
1 100
234 2
384 7
83
1 246
386.0
__ _
63, 496
2
65
4,924
53
4,427
3 867
60
213
1,325
3 821
3 618
203
1 435
4 108
3 899
209
105
89
117
93
52
1 229
250 4
414 9
89
1 272
256 1
416.9
89
1 504
1 633
257 8
1 619
261 0
385 6
86
235. 1
233. 0
3,654
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed.
number
2 9, 902
Price, wholesale*
Index 1967—100
126 0
Runs to stills O
mil. bbl._ 4, 537. 3
Refinery operating ratio _ _ _ _ _ % o f capacity
91
All oils, supply, demand, and stocks:
New supply, totald*t
Production:
Crude petroleum J
Natural-gas plant liquidst
Imports:
Crude and unfinished oils
Reflncd products! _ _ _
6, 050. 7
do
3, 360. 9
do. ..
645.1
3, 199. 3
1,313.4
908.8
>6 0
525.1
460.0
492.6
454.4
470.9
465.1
495 3
501 6
500 5
240 1
46.9
269 g
52.2
253 2
50.2
259 5
50.9
252 3
50 6
258 1
51 8
255 1
52 5
248 0
48 4
114.7
63 C
102.2
48.8
108.9
51 6
118 4
43 8
131 3
54 1
143 1
51 0
141 5
62 7
51.8
52.7
261.6
51.5
120.7
79 1
122.2
84 0
125.8
86.2
108.5
64.4
65.3
-2.3
«-22.0
-12.9
—9.9
-19.2
12.2
18
15 2
522 0
565 1
564.5
485 3
512 4
486 9
474 9
475 1
4.Q4. A.
do
do
.7
83.7
1.1
79.4
0
56
0
7 2
.8
6.2
.9
60
3
6 3
(i)
5 7
o
o
o
6 3
6 7
do
do
do
6,317.3
6, 069. 5
2, 402. 4
64.4
516.4
197 6
5.9
557.9
557.5
204 3
7.6
193.4
6.8
478.4
505.8
197 1
5 2
481.2
202 7
4 4
468.6
214 1
3 0
468.3
do
do
do
1, 128. 7
94 4
84.6
31 0
119.5
91.9
32 3
122.5
100.5
32.3
106.5
79.8
30 1
102 1
82.7
30 4
92 8
66.8
30 2
73 9
63 5
30 3
68 0
65 4
29 7
fie c
1,030.2
386.6
1,072.8
957.8
362.6
do
do
do
59.2
182.6
4.4
12.1
47.4
4.4
6.7
52.0
4.5
5.6
52.5
3.2
53
41.9
3.2
61
43.0
4.3
91
36.8
4 2
12 7
30 7
4 5
17 1
29 7
4 2
528.8
56.7
168.7
512.8
do
do
do
do
1 008 3
242 5
107.0
CCQ o
4
1 121 1 1 103 3
265 0
271 1
113.6
117.2
41 121 1
1 099 1 1 086 2 1 076 4
270 5
280 0
276 8
105.3
110.5
106.8
1 057 2
281 9
114.1
1 OfiQ 4
1 IY71 O
97fi 1
"
do
do
2, 401. 9
1.7
213.4
2, 337. 5
1.0
* 228. 3
C1)
221.9
200.1
.2
< 228. 3
203.0
_._
109 9
178 4
186 7
184 9
187 0
269
404
407
412
423
422
16.4
.2
3.9
15.9
.1
*3.5
1.3
(!)
3.5
1.0
0)
<3.5
1.1
0)
3.6
Prices (excl. aviation):
Wholesale, regular*
Index 2/73—100
Retail (regular grade, excl. taxes), 55 cities
(mid-month) If
$ per gal
Aviation gasoline:
Production
mil. bbl
4 74.9 f\
190.1
-29.7
265 0
113.6
0)
245.9
Stocks, end of period
do
Kerosene:
Production
do
80.1
56.9
5 4
6 1
6.0
4
Stocks, end of period.
do
16. 9
21.0
16.7
16.5
<16.9
Price, wholesale (light distillate)*
Index, 1967=100..
261.4
128.0
226.7
257.9
253.7
r
J
s
Revised.
Less than 50 thousand barrels.
Reflects revisions not available by
months.
i Beginning Jan. 1974, data may reflect input of lease condensate, natural gas plant
"Quids, unfinished oils, and other hydrocarbons which are processed through the crude oil
gstillation facilities. No comparable data for earlier periods are available
« Beginning
"bee. 1974 stocks reflect data from approximately 100 additional bulk terminals and are not
comparable
with
those
for
earlier
periods.
No
earlier
data
are
available
for
these
terminals.
6
Adjustments affecting supply and demand data will be available from Bureau of M ines at
a later date.
« Not comparable with earlier periods; See note 4 for this page.
9 Includes data not shown separately.
§ Includes nonmarketable catalyst coke
171 7
7.1
176.7
.3
255 4
189.2
0)
252. 1
-I OQ
m
-1
i
182.3
0)
235 7
m
281 0
121.2
667. 2
191.1
0)
217 0
q
213 5
4 0
5
4.00
.9
.9
1.1
0)
3.5
0)
3.3
.9
0)
3.0
(l)
5 7
15 3
4 9
15 2
4 5
15 3
I
40 4
47Q
o
9
Q
0
fi Q
fi 9
488 6
488 8
218 6
33
473 1
203 9
38
67 4
65 6
64 9
69 9
4 6
19 1
37 2
44
18 Q
37 3
91 Q 7
3 0
69 4
on £
•I 0
q
36 5
00 A
01 9
1, 086.4
118.1
114.6
119.9
675,1
705.9
732.2
773.3
201.2
0)
210 0
218.5
0)
91 £ 9
214.6
0)
218 4
229 9
228. 9
233.7
116.3
206. 8
425
4OQ
20 6
4QK
C1)
4.74.
3.0
1.1
(')
2.9
4 2
16 5
2 8
15 4
262 6
397 5
BIT". 8
6, 150. 0
2, 452. 7
78.9
9C« -I
257 1 «263 9
fi
49.3
Stocks, end of period, total
Crude petroleum.
_
Unfinished oils, natural gasoline, etc
Refined products
85
9t
6,401.7
_
Stocks, end of period
1,234.2
1,049.3
509.6
85
88
353.9
do
_
Refined petroleum products:
Gasoline (incl. aviation):
Production
. do_
do
629.2
87
1 299
223 1
395.8
do
Domestic product demand, total 9 ©t
Gasoline!
Kerosene
Lubricants!
Asphalt. __
Liquefied gasesj
211.8
4, 631. 6
387
mil. bbl.. 6, 289. 5
Change In stocks, a!! oils (decrease,—),
Demand, total©}:
Exports:
Crude petroleum
Refined products} _ _
Distillate fuel ollj
Residual fuel ollj
Jet fuelt
__
12,718
3
1.3
4.7R
0)
2.7
1.5
0)
2 9
0)
3 7
16 0
4 4
17 2
17 8
2 8
267.2
273.6
274.9
280.6
284.6
304.2 307.8
283.7
299.1
297.9
299.4
d" Includes small amounts of "other hydrocarbons and hydrogen refinery input," not
shown separately.
J Monthly revisions back to 1972 will be shown later.
0 Beginning March 1974 SURVEY, data are restated to account for processing gain and
5 page.
'New Series. The source has discontinued pr:
.
specification. Comparable indexes for earlier periods will be shown later. For gasoline and
kerosene see also similar note on p. S-36.
^Beginning June 1975 SURVEY, the prices for all
months have been transferred forward (i.e., Dec. price moved into Jan. period) since they are
for "mid-month" instead of "1st of month" as formerly.
SURVEY OF CURRENT BUSINESS
S-36
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1973
1974*
Annual
January 1976
1974
Nov.
1975
Dec.
Feb.
Jan.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS-Continued
Reflned petroleum products— Continued
Distillate fuel oil:
1 030 2
Production
mil bbl
143 1
Imports^
do
32
Exports
do
Stocks end of period
do
196.5
Price, wholesale (middle distillate)*
139.7
Index, 1967=100...
Residual fuel oil:
354 6
Production
mil bbl
Imports^
do
676.2
Exportsi
do
85
53 5
Stocks end of period
do
Price, wholesale*
Index, 1967=100
190.4
Jet fuel:
Production
Stocks end of period
mil. bbl
do
Lubricants:
Exportsf
Stocks end of period
do
do
Asphalt:
Production
Stocks end of period
974 0
102 5
.9
* 223. 8
84 0
13 3
1
212.9
90 7
16 0
1
4
223. 8
88 4
10 0
199.8
75 0
85
1
176.7
(3)
78 5
7 9
74 6
33
.1
146.3
(2)
161.1
152.1
163.3
181.5
80.4
2.9
(2)
197.4
75 4
4 2
(2)
77.2
2.0
80.3
3.3
(2)
(2)
3.9
(2)
220.8
272.0
296.0
300.1
312.9
318.2
322.9
330.8
336.3
40 3
40. 1
3
64 1
528.2
294.9
37 3
31.4
.2
66.3
534.6
308.3
41 4
50.0
5
4
74. 9
514.8
297.5
37 9
39 3
5
66 5
515.8
301.3
36 9
49.1
2
60 4
506.6
299.1
43 9
51.0
5
69 2
604.4
296.1
390 5
573.8
50
4
74. 9
485.4
35 7
34^8
2
73.5
491.3
34 6
27.1
.6
69.7
489.3
35 8
35.5
.5
71.5
479.9
35.5
30.4
.4
71.9
473.3
39.4
.6
76.9
458.1
461.8
450.4
459.3
313.7
28 5
305.1
4 29 8
25.9
29 6
26.7
29. 8
25.8
30 3
23.4
29 1
27.8
30 5
25.9
30.3
26.7
30 7
25.2
29.3
27.4
29.8
29.7
31.1
31.3
68 7
12 7
12 2
70 7
11 9
* 16.1
5 8
1.0
15.4
58
.8
16. 1
4 9
.8
15.7
37
8
15.5
.6
16.5
.7
16.0
1.0
15.4
.7
14.9
.9
14.7
.7
14.2
.7
14.0
164 2
21 6
13 3
17 0
10 8
21. 6
8 2
24 4
75
26 9
9.2
30 2
9 4
30.7
13 1
31.6
14.4
29.6
16.6
28.4
16.2
26.3
22.6
43.0
34 7
83
98 5
47.4
38 7
8.7
97.1
44.9
36 7
8.2
101.4
46.2
37 0
9 3
111.7
45.5
35.8
9.7
124.1
47.6
37.2
10.4
131.2
48.9
37.8
11.1
138.5
141.6
mil bbl
do
167 9
15 0
Liquefied pases (incl. ethane and ethylene) :
Production total
mil bbl
At eras processing plants (L P Q )
do
At refineries (L R Q )
do
Stocks (at plants and refineries)
do
583 9
447 0
136 8
98 6
4
571 3
447 9
123 3
* 112 5
4
4
4
46 5
47.4
37 5
38 6
9 0
89
122 4 * 112.5
47
38
9
102
6
0
5
8
294.6
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
Consumption
Stocks end of period
73, 493
73, 596
' 4, 688
77, 302
74, 459
7,238
6,234
6,019
7,521
5,945
5,505
7,995
5,809
5,868
7,994
5,384
5,325
7,702
5,056
5,527
7,477
4,802
5,059
6,764
5,073
5,155
6,372
5,027
5,244
5,834
5,010
6,330
5,497
5,476
6,346
5,448
5,371
6,411
6,537
6,297
6,727
thous. sh. tons..
do
12, 374
516
12, 106
848
844
877
649
848
740
787
693
826
699
795
770
775
744
755
750
744
696
752
770
740
'784
744
869
778
WOODPULP
Production:
Total, all grades
thous. sh. tons^
Dissolving and special alpha
do
Sulfate
do
Sulflte
do
Groundwood
do
Deflbrated or exploded, screenings, etc__.do
Soda and semlchemical
do
48, 327
1,637
33, 045
2,184
4,670
2,740
4,052
48, 417
1,723
33, 010
2,210
4,711
2,729
4,035
3,918
152
2,699
198
370
210
288
do
do
do
do
874
380
413
81
1,177
440
637
100
697
162
441
94
1,177
440
637
100
964
351
526
86
934
423
434
78
1,179
630
470
78
1,222
655
494
73
1,271
719
489
63
1,258
710
484
63
1,231
682
475
74
do
do
do
2,344
736
1,607
12,802
788
»2,015
215
69
146
259
66
193
260
74
185
261
69
192
255
75
180
184
47
137
205
66
140
208
36
173
183
58
124
do
do
J
3,993
177
3,816
i 4, 123
221
1
3, 902
297
9
288
312
16
296
267
9
258
238
9
229
296
17
278
248
5
243
245
10
235
278
24
254
267
11
256
3,937
1,778
1,848
7
304
4,011
1,787
1,852
8
365
4,048
1,768
1,886
8
387
4,184
1,799
1,985
8
392
thous cords (128 cu ft )
do
do
Waste paper:
Consumption
Stocks end of period
Stocks, end of period:
Total all mills
Pulp mills
Paper and board mills
Nonpaper mills
Exports, all grades, total
Dissolving and special alpha
All other
Imports all grades total
Dissolving
and special alpha
A IT /ifl-m-
..
.
3,727
3,372
138
125
2,286 s 2, 568
192
203
365
347
203
198
3
250
225
3,401 s 3, 221
126
117
2,305 2,289
170
176
339
362
211
(£)
250
277
5
3, 076 63,215 « 3, 208 5 3, 171 s 3, 569 6 3, 396 5 3, 919
133
87
107
111
88
106
95
2,436 2,847
2,583
2,359 2,334
2,307
2,240
186
179
166
149
153
146
148
421
389
342
397
360
330
327
5
8
8
5
5
()
(5)
()
()
()
()
305
333
315
272
263
262
111
(•)
1,140 ' 1, 041
540
611
448
465
'53
65
1,132
635
443
54
218
55
163
207
59
149
161
44
117
186
52
134
223
12
211
242
4
237
255
11
244
237
8
230
4,209 ' 4, 147 ' 4, 613 4,562
1,992
1,849 '1,850 r 2, 006
2,142
1,951 ' 1, 881 r 2, 137
8
7
'6
'8
420
Mil
'435
403
5,126
2,258
2,408
8
451
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
4,662
3,874
4,200
59, 934
All grades, total, unadjusted thous. sh. tons_. 61, 304
2,011
2,222
26, 861
2,096
26, 483
Paper
do
1,604
27, 892
2,114
1,835
29, 267
Paperboard
do
144
8
149
8
9
^Vet-machine board
do
252
261
5,037
5,406
317
Construction paper and board
do
Wholesale price indexes:
159.6
140.9
159.6
Book paper, A grade
1967 = 100.. 112.4
152.2
170.3
166.4
115.1
170.7
Paperboard
_
do
121.3
124.1
120.9
123.5
112.8
Building paper and board
... do
T
Revised.
»
Preliminary.
1
J
Reported annual total; revisions not allocated to the months.
Less than 50 thousand
barrels.
3 Beginning with January 1975, data 4for soda combined with those for sulphate;
not8 comparable with data for earlier periods.
See note 4 for p. S-35.
Beginning March 1975, data for defibrated or exploded, screenings etc., not available;
not comparable with those for earlier periods.
{Monthly revisions back to 1971 will be shown later.
•New series. The Bureau of Labor Statistics has revised its pricing program and discon-
170.1
169.7
170.6
170.6
169.9
170.0
170.6
170.7
170.4
169.9
170.7
131.4 131.7
131.2
128.8
123.6
126.2
127.4
127.7
123.4
124.4
125.7
tinued prices for the former specification. The index shown is developed from revenue and
volume data collected directly from petroleum companies. The pricing formerly was based
on spot quotations in trade journals, which over the past year have come to represent a
decreasing portion of domestic transactions. Because of the time required to collect the new
data there will be a one-month lag in pricing; e.g. the May index reflects changes in prices
from Mar. to Apr. Except for gasoline, (p. S-35) comparable data prior to April 1973 are
available upon request.
SURVEY OF CURRENT BUSINESS
January 1976
1973
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
Annual
1975
1974
Nov.
S-37
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Sept.
Aug.
Oct.
Nov.
Dec.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Con.
Selected types of paper (API):
Groundwood paper, uncoated:
Orders new
thous.sh. tons
Orders unfilled, end of period
do
Shipments
- - - -- -do.
Coated paper:
Orders new
-do
Orders unfilled end of period
do
Shipments
do
Uncoated free sheet papers: t
Orders new
do
Shipments
do
Unbleached kraft packaging and industrial converting papers:
Orders new
do
Orders unfilled end of period
do
Shipments
- do
Tissue paper production
. do
Newsprint:
Canada:
Production
Shipments from mills
Stocks at mills, end of period
United States:
Production
_
_
Shipments from mills
Stocks at mills, end of period
1,240
153
1,208
1,255
167
1,246
86
156
101
90
167
98
96
149
93
88
157
76
93
171
86
74
180
88
93
182
92
102
195
84
89
197
90
114
202
101
105
207
97
144
236
122
3,729
410
3,825
3,642
296
3,832
268
324
294
250
296
279
266
282
285
222
254
258
232
221
258
222
199
248
246
207
243
238
203
249
252
206
252
264
199
272
263
199
260
343
252
303
6,701
6,851
6,355
6,946
432
548
333
433
356
432
317
358
364
384
400
395
416
434
418
441
459
450
457
489
499
489
600
553
3,987
193
4,019
4,039
4,135
135
4,187
4,085
368
144
367
349
328
135
337
321
332
129
339
341
269
111
287
315
223
109
225
333
238
111
236
333
268
123
256
335
273
121
270
327
272
127
263
311
316
131
312
345
r
309
r
149
••307
322
316
135
330
366
do
do
do
9,140
9,199
193
33 9, 548
9,597
3143
767
760
200
773
830
143
823
751
216
760
711
265
824
791
298
771
748
321
801
806
317
759
787
289
645
651
283
597
623
258
510
530
237
487
518
206
379
488
137
do
do
do
3,678
3,682
24
3 3, 481
3, 480
323
314
310
26
281
284
23
326
324
23
291
285
29
321
314
36
272
270
38
260
261
36
284
281
39
285
290
34
323
316
42
294
298
38
324
331
30
306
303
34
3
583
3
r
Consumption by publishers cf
do
Stocks at and in transit to publishers, end of
period
thous. sh. tons
7,658
7, 022
597
578
503
477
548
540
569
529
482
507
515
565
603
*827
774
827
894
954
1,016
1,035
1,014
1,046
1,090
1,104
1,045
983
837
Imports
do
Price, rolls contract, f.o.b. mill, freight allowed
or delivered
Index, 1967=100..
7,410
7,399
537
630
656
575
553
565
536
552
537
440
435
394
289
i 122. 2
U51.2
164.4
164.4
181.8
181.8
181.8
184.7
184.7
184.7
184.7
184.7
184.7
184.7
184.7
518
1,603
569
342
876
556
469
1,174
525
342
876
395
447
943
432
450
888
471
406
841
427
445
883
448
479
871
474
473
856
482
469
981
434
497
997
512
520
1,093
482
563
1,198
562
543
1,233
544
i 228,052 1216,072
15,461
12, 493
14,474
13,571
14, 571
15,379
15, 986
15,441
15,816
19,811
15,851
190.8
139.1
193.7
142.3
190.9
141.3
177.2
131.9
182.3
135.9
192.4
142.4
186.2
139.0
189.3
142.4
183.5
137.2
55.09
125. 15
58.41
46.77
118. 69
52.73
51.98
116. 75
59.72
.303
Paper board (American Paper Institute):
Orders, new (weekly avg )
thous sh. tons
Orders, unfilled §.do
Production, total (weekly avg.) ..._ _do.
Paper products:
Shipping containers, corrugated and solid fiber,
shipments.
mil. sq. ft. surf, area
Folding paper boxes
thous sh tons
mil $.
2 614.0
1,460.0
2 5600
1,700.0
16, 778
T
r
196. 9
146. 2
18,360
r
r
210. 5
156. 7
r
225
r
3
168. 1
184 5
137. 3
58.04
107. 05
54.29
58.74
104. 91
57.15
66.21
.308
.300
.300
172. 71 181. 99
153. 10 164. 07
378. 87 r368 01
194. 35
179. 44
358 94
184.7
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
.thous. ]g. tons . 2 685. 44
2 122. 44
Stocks, end of period
_do
2 642. 91
Imports, incl. latex and guayule. _ _ - - do
Price, wholesale, smoked sheets (N. ¥.)__$ per l b _ 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
.. _
» 57. 68
125. 55
68.17
50.84
126. 88
41.26
50.00
126. 89
51.46
.290
.295
153.83 5'153.99
149.04 164. 84
609.80 5 596. 02
707. 72
135. 37
681. 32
57.24
122. 52
45.16
49.18
135.37
59.85
.398
.275
.315
2, 585. 49 2, 476. 79
2, 400. 84 2,351,24
2 520. 99
609. 80
184. 48
174. 65
576 78
.351
5
53.12
125. 44
52.34
55.51
113.14
32.65
.293
.293
.285
.293
.318
134. 24
154. 44
590. 19
136. 68
135. 04
479 26
138. 71
149 15
426 60
153. 63
149. 30
424 70
149. 78
153. 40
408 20
144. 89
137. 57
390 78
do
275. 84
267. 12
19.13
16.80
14.52
17.05
15.06
17.17
15.69
16.78
16.24
18.36
19.28
20.64
do
do
do
2 201 02
2 163 71
2 20 96
150 85
142 29
15.23
10 90
8 71
16.62
9 33 59.21
8 06 5 9 18
15.23 5 15. 66
7 74
7 63
14 61
6 36
8 10
16 10
5 60
8 23
14 14
8 85
8 68
13 53
6 74
9 54
12 83
4 99
7 65
11 37
5.80
9 53
12 64
6 36
q 26
12 02
6 46
8 17
10 35
thous
223 418
211, 390
15 245
12, 294
14 753
13 184
12 107
15 222
15 677
16 678
14 531
16,413
17 878
18 821
do
do
do
do
238 883
69 600
165,183
4 100
209 418
55 245
145, 449
8,724
13 836
4 332
8,689
815
10 736
2 644
7,500
591
11 823
2 984
8,310
529
11 725
2 743
8,484
497
15 316
3 577
11,147
591
19 404
4 231
14J 642
531
17 941
4 291
13, 123
528
19 384
4 469
14, 393
522
17 888
3 342
14, 156
390
16 332
3 852
12, 007
473
19 883
5 206
14, 159
518
18 680
4 856
13, 256
569
do
do
50 275
4 393
55, 242
9 229
53 321
916
55 242
646
58 758
487
60 970
498
57 721
601
54 089
577
52 037
574
49 803
495
46 990
435
47, 405 45 711
491
470
46 002
547
529
do
do
do
.__ do .
38 701
44 710
8 556
1,290
41 415
46 227
8 755
3,608
3 409
3 467
8 558
421
2 853
2 989
8 755
303
3 449
3 302
9 360
442
2 884
2 599
9 782
321
2 335
2 644
9 658
253
9 ygg
2 830
9 838
425
2 656
2 734
9 921
351
2 685
3*099
9 669
390
2 497
2 889
9 476
217
3 103
3 414
9 307
455
352
.308
21.15
TIRES AND TUBES
Pneumatic casings, automotive:
Production _
Shipments, total
Original equipment. _ _ _
Replacement equipment
Exports.
Stocks, end of period..
Exports (Bu. of Census)
Inner tubes, automotive:
Production. _
.
Shipments.. _ . . _
Stocks, end of period
Exports (Bu. of Census)
..
_
_
.
.
* Revised.
v Preliminary.
1 Reported annual total; revisions not allocated to months.
•w* Publication of monthly rubber statistics was discontinued by the Census Bureau effective
with the Dec. 1972 report (Series M30A). Data beginning Jan. 1973 are from the Rubber
Manufacturers Association and are not strictly comparable with earlier data.
» Beginning
January 1974, data reflect reduction in basis weight of newsprint from 32 to 30 Ibs. for 500
sheets measuring 24" x 36"; data for January 1974 on 32-lb. basis (thous. short tons): Canadaproduction, 840; shipments, 815; stocks, 222; United States—production, 289; shipments, 285;
mill stocks, 29; consumption by publishers, 586, stocks at and in transit, 676.
* Beginning
9 703
9 779
9 546
267
2 788
3 118
9 474
215
5
Feb. 1975, data reflect indexes in lieu of dollar amounts formerly shown.
Metric tons
(thous.) beginning Jan. 1975.
t Represents the sum of uncoated book paper and writing and related papers (including thin
paper) formerly shown separately; data for new orders no longer available for the individual
items.
cf 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.
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
1973
Annual
January 1976
1975
1974
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
thous. bbl
1
1
431 516 30 739
23 181
19 191
17,553
21, 787
23, 771
34, 101
36, 266
38,910
39, 176
38, 941
41, 745
8, 674. 1 6,673 0
444 2
94.2
99.7
9.6
1 647 0 1 454 1 98 6
346 4
86
79 7
321 2
292.6
352 8
487.8
531 3
553.8
589.2
6.4
588.3
•• 570. 5
625.1
7.7
85 5
65 8
82 5
101 6
112 9
111.1
114.7
115.5
••109.1
117.1
470 527
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.
._ .
1967 = 100
7.4
8.1
8.9
8.5
8.0
6.6
7.3
6.8
7.2
7.0
20.3
22.0
165.6
167.5
168.7
122 3
96 9
6 4
7 2
5 9
58
6 3
6 5
7 5
6.0
7.5
6.4
300 6
273 2
19 7
17 0
19 6
17 3
20 3
20 6
19 7
19 2
20 2
20 1
130.8
143.5
149 1
151.0
151 0
154.2
155.0
155 4
156.6
159.9
160.7
163.0
thous. $
697, 645
543,382
112 619
85,730
105,183
131, 143
_
152,242
445, 403
132, 541
410,841
24369
88,250
15, 522
70,208
15, 026
90,157
20, 172
110,971
r
168.7
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
Sheet (window) glass, shipments -.
Plate and other flat glass, shipments
Glass containers:
Production
do
do_ _
279 027
280 397
21 641
17 080
22 645
21 369
22 822
22 984
22 937
24 221
25,300
25, 279
25,220 ' 26,963
23, 081
do
274 295
273, 709
19 367
19 148
24 160
17,853
21, 268
22 603
23, 764
25,350
29, 424
23, 802
23,439
r
21, 021
do
do
do
do
23 634
71,000
61 659
22 729
24
65
66
22
491
631
605
568
1 574
4 665
4 558
1 773
1 425
5 051
4 881
1 792
2
5
5
2
010
299
661
194
1 717
3,557
5 119
1 528
1,848
5,196
5 794
1,805
1 983
5 127
6 606
2 020
2 185
5,894
6 654
1,927
2,128
6,336
7 489
1 994
2,248
7,710
7 894
1 877
2,978
5,280
7,260
1,801
2,929
4,723
6,512
1,906
Wide-mouth containers:
Food (Incl. packer's tumblers, Jelly glasses,
and fruit Jars).
thous. gross
Dairy products
do
59 129
59 709
4 080
6 060
4 345
5,004
6,722
4,829
5,581
6
9
11
4,711
10
8
4,270
148
4 561
4,713
197
Narrow -neck and Wide-mouth containers:
Medicinal and toilet
do
Household and industrial
do
31 626
4 421
30 231
4 326
2 227
2 070
2 060
2 514
1,897
2,170
'2,435
2,050
thous. gross
Shipments, domestic, total
Narrow -neck containers:
Food
Beverage
Beer
Liquor and wine
Stocks end of period
do
13
12
1 903
1 661
320
246
3,791
9
4,452
14
2 479
1 872
1,867
443
260
38716
9
297
40,718
7
288
7
314
3^9
39, 655
38 139
451
33 553
310
34, 599
361
35,910
35 925
37 500
6
13 558
612 592
6 11,999
610,993
2 691
2 320
2,190
2,006
6
6
2, 320
2, 151
6 2, 791
6 2, 444
do
7 661
7 424
1 695
1,189
6
1, 249
6 1, 537
do
5 525
5,262
945
723
1,245
1,343
do
349
322
77
66
74
73
293
484
215
416
45
94
42
89
44
90
39 892
37 500
35 551
40 817
23,863
1,612
2,009
' 4, 762 4,745
6 365
5,499
2,087
2,320
r
6
380
311
38,595
40, 484
GYPSUM AND PRODUCTS (QTRLY)
Production:
Crude gypsum
Calcined
Imports, crude gypsum
thous. sh. tons
do
...
Sales of gypsum products:
Uncalclned
. ...
CalcinedIndustrial plasters
Building plasters:
Regular basecoat
All other (Incl. Keene's cement)
Board products total
Lath
Veneer base
.
Gypsum sheathing
Regular gypsum board
Type X gypsum board
Predecoraled v/allboard
do
do
mil sq ft
do
do
do
do
do
do
47
96
15 151
*369
12 852
2 333
2 608
2,934
399
341
260
359
237
2 739
11 130
2 700
9 408
2 421
2 023
1,737
1,980
2,247
434
33
462
35
r 500 7
518.6
48.9
212
433
26
525
30
168
51
85
56
42
69
49
40
59
37
46
75
39
TEXTILE PRODUCTS
FABRIC (GRAY)
Knit fabric production off knitting machines (own
use, for sale, on commission) , qtrly*
mil. lb_. 2, 070. 8
Knitting machines active last working day *... thous ..
54.7
Woven fabric (gray goods), weaving mills: I
Production total 9
mil linear yd
11,755
Cotton
do
6,421
Manmade
fiber
do
6,214
Stocks, total, end of period 9 d"
do
718
Cotton
do
285
Manmade
fiber
do
428
3,502
Orders, unfilled, total, end of period 9 1f-_.-do
1,559
Cotton
do
Manmade
fiber
do
1,905
COTTON
Cotton (excluding llnters):
Production:
312,611
GinnlngsA
thous running bales
Crop estimate
thous. net weight bales ® _ _ 3 12, 974
7,279
Consumption
thous. running bales..
Stocks In the United States, total, end of period 9
thous. running bales.. 12, 595
12, 586
Domestic cotton total
do
2,788
On farms and in transit..
_ _ _ _ ..do. .
8,761
Public storage and compresses
do
1,037
Consuming establishments
do
415 3
47.0
406.8
46.4
1,965.3
46.4
11, 054
4,987
5,977
1,290
560
725
1,797
713
1,071
753
346
400
1,252
543
704
1,992
768
1,211
599
273
320
1,290
560
725
1,797
713
1,071
»846
»406
»433
1,335
580
751
1,647
671
964
« 11,328
U 1,537
6,617
8,291
10, 598
11, 195
432
343
2469
11, 486
11,476
2,037
8,413
1,026
12, 544
12, 535
4,852
6,696
987
11,486
11,476
2,037
8,413
1,026
10,690
10,680
1,180
8,418
1,082
r
1
Revised.
Annual total: revisions not allocated to the months or4 quarters.
' Data
cover 5 weeks; other months, 4 weeks.
* Crop for the year 1973.
Crop for the year
6
1974.
s jan. i estimate of the 1975 crop.
Excludes byproduct gypsum.
® Bales of
480 Ibs.
*New series. Source: BuCensus. Data cover warp and weft knit yard goods and knit
garment lengths, trimmings, and collars; no quarterly data prior to 1974 are available.
JMonthly revisions (1970-72) appear in "Woven Fabrics: Production, Stocks, and Unfilled
657
312
339
1,292
572
715
1,578
621
944
639
286
346
1,261
548
707
1,700
718
969
r 48.4
2833
2375
2449
1,219
519
695
1,892
805
1,072
749
345
397
1,191
510
676
1,961
806
1,139
770
348
415
1,186
502
678
2, 135
881
1,240
2796
2354
2434
1,175
495
675
2,281
935
1,327
814
364
442
1,168
498
665
2,398
984
1,390
30
169
<11,328
* 11, 537
400
395
*525
455
477
2527
505
9,100
9,092
681
7,212
1,199
8,210
8,202
659
6,344
1,199
7,323
7,315
560
5,559
1,196
6,575
6,566
529
4,865
1,172
5,481
5,464
275
4,063
1,126
13, 662
13, 646
9,131
3,430
1,085
9,839
9,831
762
7,917
1,152
••808 2 1, 050
2447
349
2593
450
r
1,105
1, 154
497
506
644
603
r
2,571
2, 582
1,077
1,126
r 1, 428
1,466
2,766
5,802
'2683
547
12,702 ' 11,775
12,684 ' 11,759
6,721
8,728
2,919 •• 4, 045
••993
1,037
10, 542
10, 533
3,573
5,932
1,028
373
531
7,618
* 8, 327
L,.
Orders," M22A—Supplement 3 (Aug. 1973), Bureau of the Census.
9 Includes data not
shown separately.
cfStocks (owned by weaving mills and billed and held for others) exclude bedsheetmg,
toweling, and blanketing, and billed and held stocks of denims.
H Unfilled orders cover wool apparel (including polyester-wool) finished fabrics; production
and stocks exclude figures for such finished fabrics. Orders also exclude bedsheeting, toweling,
and blanketing.
ACumulative ginnings to end of month indicated.
SURVEY OF CURRENT BUSINESS
January 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1975
1974
1974
Annual
S-39
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
TEXTILE PRODUCTS—Continued
COTTON -Continued
Cotton (excluding linters)— Continued
Exports
thous running bales
5,495
Imports
-.
thous. net-weight (\) bales
33
Price (farm), American upland
cents per lb.._
144.4
Price, Strict Low Middling, Grade 41, staple 34
(Hie"), average 10 markets*
. .cents per lb_. !67.1
5,170
46
142.7
272
1
50.4
350
3
43.8
409
7
37.0
380
1
32.6
346
1
'33.5
371
4
'35.4
364
5
'36.5
392
4
'38.9
356
(5)
MO. 6
325
1
'43.5
258
19
'46.8
226
1
49.8
176
1
49.7
50.0
141.7
40.0
36.9
36.1
36.4
37.8
40.4
41.7
42.8
45.6
48.4
50.7
50.4
50.9
55.1
17.3
8.8
106.2
.408
55.5
17.5
9.0
6.8
.341
3.5
17.3
8.8
5.4
.272
2.8
17.1
8.6
37.3
.293
23.7
17.0
8.6
5.8
.291
3.0
16.7
8.6
5.7
.287
2.9
16.8
8.6
«7.9
.314
»4.0
16.8
8.5
6.9
.346
3.5
16.8
8.5
16.8
8.4
28.2
.328
24.1
17.0
8.4
7.8
.392
3.9
17.1
16.9
8.4
8.3
8.1 210.5
' . 403 .421
4.0
25.2
17.1
8.3
8.3
.416
4.1
COTTON MANUFACTURES
Spindle activity (cotton system spindles) :
Active spindles, last working day, total
mil..
C onsuming 100 percent cotton
do
Spindle hours operated, all fibers, total
bil_.
Average per working day
do
Consuming 100 percent cotton
do
Cotton cloth:
Cotton broadwoven goods over 12" in width:
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
Exports, rawcotton equiv thous. net-weight X bales
Imports raw cotton equiv
do
MANMADE FIBERS AND MANUFACTURES
riuei pio UCL u ,, qu y. iuui -----
j'
Noncellulosic, except textile glass:
r
i f
T
t'l
'l
ri
fib
Fiber stocks, producers', end of period;
Filament yarn (rayon and acetate)
d
18.0
9.8
116.2
.447
63.1
.360
3.7
5,086
4,714
320.8
313.8
9.9
11.6
9.3
9.1
11.5
12.2
10.6
11.3
14.8
11.9
13.0
12.4
12.0
33.1
33.9
5.3
6.9
6.1
6.7
6.9
6.4
5.6
5.4
6.5
5.1
4.8
4.7
4.8
3.15
3.30
525. 1
568.4
.53
39.4
28.7
.59
36.2
26.2
.66
36.9
29.1
.73
36.0
24.6
.60
43.8
25.0
.53
43.8
27.6
.53
45.6
22.9
.48
37.5
29.8
.44
34.3
32.7
.43
38.1
40.6
.37
41.0
43.9
.38
49.8
63.9
.40
41.6
69.5
459.4
686.3
••890
985
••979
1,050
8,329,4 8,085.3
635.3 533.4
696.7
645.4
1,617.4
101.8
107.2
1,226.9
64.3
52.9
1,688.3
101.7
80.2
105.8
3, 339. 6 3,443.0
2, 969. 8 2,780.6
688.0
682.9
716.1
524.5
167.8
562.7
424.6
122.4
774.5
605.0
126.9
912.9
792.5
139.0
46.3
34.0
57.5
73.9
57.5
73.9
45.4
61.3
34.0
55.3
44.9
232 2
186.5
72.5
392.3
321.3
98.1
392.3
321.3
98.1
331.7
298.0
110.9
255. 4
233.0
102.4
267.1
220.2
95.2
«.6l
1.04
1.30
.61
1.18
1.32
.61
1.27
1.29
.61
1.27
1.22
.61
.61
.61
.61
.58
.56
.56
.56
.58
.58
.58
1.22
1.22
1.22
1.24
1.24
1.27
1.27
1.26
1.36
1.40
1.40
3.13
3.20
.30
.35
.41
.42
.43
.38
.37
.33
.30
.30
.28
.24
6,108.7
1, 895. 0
473.1
365. 8
3,526.8
435.4
2,513.9
5,923.3
1,962.7
431.5
346.0
3,308. 8
294.5
2,381.2
1,284.2
445. 1
90.6
79. 0
704.6
44 8
527. 7
1,125.5
407.3
75.7
474.8
Manmade fiber manufactures:
Exports, manmade fiber equivalent*
mil. lbs__ • 288. 23
Yarn, tops, thread, cloth
.
do.. 6162.74
Cloth, woven
___ . ...
do « 117. 35
Manufactured prods., apparel, furnishings.- do. . 125. 49
Imports, manmade fiber equivalent*
do._ <> 465. 32
Yarn, tops, thread, cloth..
...
do.. 109. 70
67.91
Cloth, woven
do
Manufactured prods., apparel, furnishings.- do .. e 355. 62
286. 87
Apparel, total
do
205. 34
Knit apparel
do
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis);
Apparel class
_.
mil. Ib
109.9
Carpet class
do
41.4
Wool imports, clean yield
do
57.9
Duty-free (carpet class)
do
39.9
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory,
fine
$ per lb._
2.500
Graded fleece, % blood
do
1 594
Australian, 64s, warp and half-warp ...
do ._
3.035
Wool broadwoven goods, exc. felts:
Production (qtrly.)
mil. lin. yd.. 101.1
329.8
59 9
49 8
mil. lb_.
Noncellulosic fiber, except textile glass;
o
e
Textile class
fiber
do
Prices, manmade fibers, f.o.b. producing plant;
Staple: Polyester, 1.5 denier-..
$perlb__
Acrylic (spun"* knitting 2/20 3-6D
do
Manmade fiber broadwoven gray goods ratio:
Stocks to unfilled orders, end of period*
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 $..do
Rayon and/or acetate fabrics, blends
do
Polyester blends with cotton
do
Filament and spun yarn fabrics (combinations
1, 365. 3
407 2
76.5
65 9
803.7
43.0
640.8
'1,278.8
r 410. 5
'90.7
' 76 8
r 736. 5
'38.8
r 569. 3
615.8
38 7
461.4
70.3
'54.0
25.73
14.40
11.25
11.33
35.69
5.01
3.84
30.68
27.38
18.47
24.67
14.01
10.80
10.66
40.32
5.92
4.61
34.40
30.70
21.35
27.07
16.07
12.00
11.00
37.93
5.69
4.78
32.24
28.81
19.83
29.20
17.03
12.87
12.17
37.97
5.74
4.31
32.23
28.79
19.70
32.31
18.70
14.89
13.61
41.04
6.65
5.23
34.39
31.17
20.51
28.62
16.37
12.57
12.24
35.15
6.90
5.47
28.25
94 50
16.59
390. 73
244.11
150. 34
166. 66
371.25
76.22
55.71
295. 03
252. 01
175. 34
28.05
17.00
12.93
11.06
31. 03
6.77
5.11
24.26
20.34
13.71
23.50
14.58
11.20
8.92
28.49
6.70
5.38
21.79
18.07
12.08
22.84
14.34
10.72
8.50
28.77
7.31
5.69
21.46
17.80
11.92
20.83
12.51
9.52
8.32
24.38
4.78
3.93
19.60
17.16
11.79
24.50
14.80
11.37
9.70
28.76
5.04
3.90
23.72
20.11
13.77
31.56
18.41
12.50
13. !4
27.85
5.76
4.44
22. 09
18.42
12.28
27.85
14.88
11.89
12.97
30.03
5.30
3.98
24.73
21.17
14.44
75.0
18.6
26.9
15.2
5.5
1.1
1.0
.5
4.6
1.1
1.3
.2
J6.5
6.5
1.2
1.7
1.2
28.4
7.6
1.0
2.9
1.9
2 1.2
2.4
1.5
8.1
1.7
2.4
1.0
'8.1
1.3
2.9
1.3
2 10.3
2.1
1.4
7.7
1.1
2.2
1.3
28.1
21.7
2.2
1.1
5.8
1.4
1.4
.6
4.9
2.5
7.9
1.3
4.0
1.9
1.760
1.194
2.173
1.412
.912
1.805
1.308
.842
1.768
1.162
.788
1.732
1.125
.775
1.788
1.138
.775
1.835
1.340
.835
1.857
1.506
.875
1.941
1.556
.862
1.835
1.538
.850
1.813
1.712
.875
1.788
1.725
.875
1.743
1.725
.875
1.718
1.725
.875
1.805
81.0
17.1
21.4
17.3
19.4
.58
21.5
1.775
1.012
1.795
20.6
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other), shipments, quarterly*
mil. sq.yds.. 1,025.4
199.6
939.1
r
2
Revised.
i Season average.
For 5 weeks; other mo iths, 54 ~\veeks.
3 Month iy
average.
* Price not directly comparable with e irlier dat a.
L ess than 500 bal es.
e Annual total calculated independently.
*New series. Cotton market price (U.S. Dept. ofAgricultiire) avai lable mo nthly ba ck
to 1947. Manmade fiber gray goods (owned by we£iving mil s) ratio Tom Anler. Text ile
(1lJ(Tanufacturers Institute, based on BuCensus data; inanmade fiber m anufactu res expo rts
218.3
212.9
175.7
£ivailable
and mports from U. 3. Dept. of Agric ulture (I:RS), b£ised on ISuCensu 3redata—
ted into
back to 1960. Exports5 and imiwrts, orijfinally re ported iii varying units, a re convei
iding an
(inch
anufactu
their
m
umed
in
ber
cons
appr aximate quantitic?s of ma nmade fi
and i mports c f certain
adjus tment fo r waste) Not inc uded are raw (un manufac tured'i fit>ers
back to 1968 are
textu red yari s. Carp>et sbiprnents (B u Census ) revisec quarter ly data b.^i
a Net-wei£;bt (480-1 bales
9lnclud es data n ct shown separate,ly.
avail able.
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated in footnotes below, data
through 1972 and descriptite notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
January 1976
1974
| 1974
Annual
Nov.
1975
Dec.
Jan.
Feb.
May
June
July
Aug.
17, 022
21, 297
20, 154
1,096
1,200
1,101
982
7,464
7,147
1 117
993
2,348 2,295
1,199
876
7,229
1 045
2,253
894
734
6,605
818
1,891
Apr.
Mar.
Sept.
Oct.
Nov.
22, 844
20, 347
21,806
19, 070
1,315
745
8,171
926
2,466
' 1,211
'776
'r 8, 975
1
039
T
2, 490
1,376
1,011
9,176
1 179
2,980
Dec.
TEXTILE PRODUCTS—Continued
APPAREL
Hosiery, shipments
thous. doz. pairs
228, 269
Men's apparel cuttings:
Suitsf
thous. units. . 116,679
Coats (separate), dress and sportt
do
121,327
Trousers (separate), dress and sport t-.
do .. 1171,115
Slacks (Jeans-cut) casual* J
thous doz
U2 576
Shirts, dress, sport, inc. knit outerwear! do.. . 134, 369
217,905
17, 699
i 16, 754
i 19, 098
1 158, 284
1 12 294
i 36, 437
12, 680
14, 029
15, 346
18, 488
1,202
1,549
1,237
935
8,233
5,145
1 047 1 023
2,790
2,059
1,260
716
8,715
849
2,363
1,094
1,009
7, 370
1 021
2,295
1,031
946
7,137
1 267
2,040
18, 258
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (not), qtrly. total
mtl. $
U.S. Government. _
do
Prime contract
. do
Soles (net), receipts, or billings, qtrly. total . -do. .
U.S. Government—. .. _._
do
27,044
15, 804
24, 377
24,305
14, 431
32 704
19,390
30,239
26. 849
15, 196
8 799
5 475
8 221
7,098
4 063
6 530
3 882
6,010
6,879
3,814
5 655
3,472
5,002
7,325
c
4, 149
8,361
5,576
7,623
7,456
4,718
Backlog of orders, end of period?
do. _
U.S. Governmentdo
Aircraft (complete) and parts
do
Engines (aircraft) and parts.
do
Missiles, space vehicle systems, engines, propul
slon units, and parts
mil $
Other related operations (conversions, modifications), products, services
mil. $
29,661
16,695
13 544
2,821
35,516
20, 889
15 489
3,902
35,516
20 889
15 489
3 902
35,167
20,957
14 893
3 926
33, 497
20,280
13 990
3,744
34, 402
21, 138
14, 184
3,876
5 670
6,643
6 643
6 553
6 041
6,413
2,897
3,591
3 591
3 572
3,760
3,967
4 598
64,370
2 311
4.976
65, 573
3 360
512 8
6 595
329 0
388 8
4 862
404 9
301 5
3 876
109 5
521 9
5,955
412 5
539 2
6 595
460 6
442 2
5 381
215 3
496 6
6,151
319 5
529.6
6,071
352 9
415.4
4,689
190 7
336.4 '291.2
4,318 ' 3, 379
237 6
210.4
430.7
4,966
316.3
301.2
3,678
177.7
thous. . 12, 637
do
11 866
do
9 658
do
9 079
do
2 980
do
2 787
10, 059
9 191
7,331
6,721
2,727
2,470
736.8
671 2
548 0
499 6
188.9
171 6
639.6
556 6
447 5
394 o
192 2
162 6
« 537. 5
a 495 2
"391 4
»362 8
« 146. 2
« 132 4
« 577. 3
652.4
571 3
499 6
436 8
159 8
134 6
772.3
691 6
586 2
529.9
186.2
161 7
807.2
721 4
612.6
555.2
194.6
166.2
840.9
753 7
632 1
571 3
208.8
182 3
681.7
624.1
504.5
466.5
177.2
157.7
662.7
606 7
484.6
447.9
178.2
158.8
896.6
815 6
667 5
608.4
229.1
207 2
981.8
885.1
745.6
673.4
236.1
211.6
801.7 2 747. 0
714.0
605. 9 2 561. 1
533.4
195.8 2 185. 9
175.6
8,873
7,454
1,419
604
506
98
'6.6
r
53
1.3
508
430
79
'6.9
T
5 8
1i
578
463
115
8.0
'66
15
684
536
148
'9.2
7 2
19
669
524
146
'7.9
660
518
142
'7.6
'59
1.6
741
603
138
'7.9
'6.4
1.5
770
619
152
'8.2
'66
1.7
794
637
157
'9.4
'7.6
1.7
684
534
150
'9.5
'7.8
1.7
726
591
136
8.9
7.2
1.7
889
774
115
'9.1
'7.7
1.4
Aircraft, (complete):
Shipments . . .
Airframe weltiht
Exports, commercial
.
do
thous. Ib
mil $
MOTOR VEHICLES
Factory sales (from plants in U.S.), total
Domestic
Passenger cars, total
Domestic
_
Trucks and buses, total
Domestic
Retail sales, new passenger cars:
Total, not seasonally adjusted-thous
DornesticsA
do
ImportsA - do
Total, seasonally adjusted at annual ratest-.mil..
DomesticsAt
do
Imports A
do
11,439
9 676
1 763
Retail inventories, new cars (domestics), end of
period: A
1,672
Not seasonally adjusted
thous. . 1,600
r
Seasonally adjustedf
do
' 1 682 1, 755
[nventorv-sales ratio, new cars (domestics) At
ratio..
r
a 501 1
«410 5
°357 3
0
166. 8
« 143 9
744
655
89
8.8
7.5
1.2
701
600
102
9.4
8.0
1.4
1,466
1,436
1,484
1,733
1,584
1,602
1,443
1,513
1,672
1,654
1,500
1,482
1,568
1 806 r i 755 r 1 610 ' 1 395r 1 360 r i 440 ' 1, 437 ' 1 444' 1, 487 ' 1, 637 ' 1, 664 ' 1, 631 ' 1, 541
1,419
1,502
2.3
r 6 3
16
'1.9
••2.6
M.I
3.6
'2.9
'2.3
'2.6
'2.9
'2.7
'2.6
'2.3
'2.5
'2.8
'2.5
'2.4
509 19
452 37
151 65
600.90
516. 59
214. 44
55 48
46.04
16 35
48 87
39 72
15 21
37 72
29 11
14 28
41 69
35 52
16 57
60 57
52 11
19 53
56 85
49 11
20 83
58 20
52.23
22 44
56 70
50 72
23 04
40 37
35.46
19 93
36.22
33.35
17 99
53 60
49.61
14 85
64.69
54.72
18.44
74.21
64.90
15.29
do-..
do
do
2, 437. 3
871 6
499 8
2, 572. 6
817.6
660.1
159. 79
85.22
59.34
167. 93
57 70
61 18
160. 31
41 14
43.65
128. 66
40 21
34.13
204.91
92.55
39.41
166. 17
70.80
33.93
178 88
72 05
37. 14
177. 15
64.96
41.04
176. 78
46.02
32.43
168.89
47.53
33.71
139. 41
56.16
32.95
177. 92
74.01
40.54
179. 64
66.41
38.70
Truck trailers and chassis, complete (excludes
detachables) shipments ®
number
Vans
do
Trailer bodies (detachable), sold separately do
Trailer chassis (detachable) sold separately do
164 641
108 940
18 626
12 790
191, 262
128, 493
U4,313
12, 933
15 950
11 319
302
1 460
14 006
9 649
305
1 569
6 581
3 984
5 727
3 297
5 737
2 896
870
805
226
5 871
3 144
487
134
6 412
3,081
422
183
5 542
2 42?
607
121
5 233
2 605
136
16
4 977
2,422
301
49
5 212
2 902
265
78
7 094
4,110
640
112
4 710
2,535
645
181
Registrations (new vehicles):©
Passenger cars
Imports, incl. domestically sponsored
Trucks
.
4H 35] 1*8,701 4 609 5
4 1 720 i * 1, 369 4 101.4
« 3 029 i * 2, 657 4 174 6
Exports (Bureau of the Census):
Passenger cars (new), assembled
To Canada
Trucks and buses (new) assembled
Imports (Bureau of the Census):
Passenger cars (new), complete units
From Canada, total.
Trucks and buses H .
thous
do
do
thous
do
do
4 4586 1 3 570 4 55 590 0 s 635 4
94 3 s 1GO 7
115 9 s 149. 0
4
181 3 3 163 0 s 141 6 3 177 6
3
3
3
581 3 4 656 8
126 4 44 130. 8
197 2
176 8
4735 6 4 764 9 4 735. 8 4738 9 4 799. 2 4 4632. 6
4 137. 4 44 144. 7 4 150. 4 4 143 6 4 120. 8 4 80. 7
191.4
4215 7
222 2 4 214. 9 4 219 5 4 236. 3
RAILROAD EQUIPMENT
Freight cars (new), for domestic use- -all railroads
and private car lines (excludes rebuilt cars and
cars for export):
Shipments
number
58 25°
Equipment manufacturers
do
54 814
New orders..
do
1105 765
Equipment manufacturers
do
1102 136
Unfilled orders, end of period
do
67 199
Equipment manufacturers
do
65 380
Freight cars (revenue), class 1 railroads (AAR):§
Number owned, end of period
thous
Held for repairs, % of total owned
Capacity (carrying) total end of mo mil tons
Average per car '
""
tons
1 395
63
98 19
70 38
66 858
63 199
97 ggq
85 9266
90 16
79 009
5 264
4 967
3 079
2 979
90,724
78 554
6 162
5 749
» 8* 639
9, 189
90,216
79 009
5 910
5 736
3' 502
3 502
86, 943
75 910
5 699
5 538
2 031
2,031
83, 028
72, 156
6 947
6 794
4 021
4,021
78, 191
67, 472
5 836
5 332
1,485
1,485
73, 389
63, 174
5 975
5, 434
1,813
1,813
68, 007
58, 333
6 741
6,275
631
631
60, 890
51, 682
1 375
64
98 39
71 49
1 374
6.4
98 16
71 45
1 375
6.4
9g 39
71.49
1 369
6.7
98 O9
71 59
1,367
6.7
97 94
71.66
1,368
7.0
98 21
71.78
1,363
7.2
98 04
71.92
1,366
7.5
98 36
72.02
1,363
7.6
98 32
72.15
r
Revised.
i Annual total includes revisions not distributed by months. s Estimate
of production, not factory sales.
s Excludes 2 States.
« Excludes 1 State.
« Omits 3
States.
• Reflects cancellation of cars previously ordered.
J Annual figures ("Apparel
1974" M23A74): Survey was expanded and classifications changed; not comparable with data
prior to 1973.
"New series. Data cover all types of men's jeans, but exclude dungarees,
overalls, and work pants.
9 Total includes backlog for nonrelated products and services and basic research.
tRevised seasonally adjusted data (1971-74) will appear in the Feb. 1976 SURVEY.
4,782
5 116
4,074
4,545
2,498 • 2, 220
2,520
1,373
58, 239 54, 662
48, 477 45, 908
1,360
7.8
98 58
72.49
1,363
8.0
98 68
72.40
5,521
4, 854
815
815
49, 612
41, 525
6,657
5,853
7,405
7,005
48, 540
40, 857
5,757
5,022
3,014
3,014
45, 741
38, 793
1,362
8.2
98.70
72.47
1,357
8.5
98.53
72.59
1,358
8.6
98.81
72.77
ADomestics include U.S.-type cars produced in the United States and Canada; import
cover foreign-type cars and captive imports, and exclude domestics produced in Canada.
lEffective Sept. 1973 SURVEY, data include imports of separate chassis and bodies.
eEffective Feb. 1974 SURVEY, excludes shipments of dollies and converter gear.
OCourtesy of R. L. Polk <fe Co.; republicaticn prohibited.
i Excludes railroad-owned private refrigerator cars and private line cars.
c
*For one manufacturer, Jan. and Feb. sales are included in the Feb. data.
Corrected.
INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40
SECTIONS
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade
1-7
8,9
10,11
11-13
Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communication
13-17
17-22
22-24
24-25
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products;
Leather and products
25,26
26
27—30
30
tobacco
Lumber and products
Metals and manufactures
„
Petroleum, coal, and products.
Pulp, paper, and paper products
Rubber and rubber products
Stone, clay, and glass products
Textile products
Transportation equipment
31
31-34
34-36
36,37
—
37
38
38-40
40
INDIVIDUAL SERIES
Advertising
Aerospace vehicles
Agricultural loans
Air carrier operations
Air conditioners (room)
Aircraft and parts
Alcohol, denatured and ethyl
Alcoholic beverages
11,16
40
17
24
34
7,40
26
11,27
11
AiSSreT
! '. .*!!;;;.".'.*;.';.*;;;;.".'.'.". 'i,*4,'8,*9,*ii-i6,4o
Asphalt
35,36
Automobiles, etc
Failures, industrial and commercial
7
Farm income, marketings, and prices
2, 3,8,9
Farm wages
16
Fats and oils
9,23,29,30
Federal Government
finance
19
Federal Reserve banks, condition of
17
Federal Reserve member banks
17
Fertilizers
9,25
Fire losses
11
Fish
29
Flooring, hardwood
31
Flour, wheat
28
Food products
1,4,6,8,9,14-16,20,22,23,27-30
Foreclosures, real estate
11
Foreign trade (see also individual commod.)
22-24
Foundry equipment
34
Freight cars (equipment)
40
Fruits and vegetables
8,9
Fuel oil
35,36
Fuels
4,8,9,23,34-36
Furnaces
34
Furniture.
4,9,12-15
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Geld
Grains and products
Grocery stores
Gross national product
Gross national product, price deflators
Gross private domestic investment
Gypsum and products
5,9,26
1,35
38
26
19
8,9,22,27,28
12,13
1
2
1
.
9,38
1,4,6,8,9,11,12,20,23,24,40
3
Balance of international payments
17,18
Banking
27
Barley
34
Battery shipments
28
Beef and veal
Beverages
9,11,22, 23,27
5-7
Blast furnaces, steel mills
20,21
Bonds, outstanding, issued, prices, sales, yields
33
Brass and bronze
38
Brick
4,6,
Building and construction materials
7,11 31,38
10,11
Building costs
10
Building permits...
7
Business incorporations (new), failures.
5
Business sales and inventories
27
Butter
.
Cattle and calves
28
Cement and concrete products
9,11,38
Cereal and bakery products
9
Chain-store sales, firms with 11 or more stores...
13
Cheese
27
Chemicals
5,6,9,14-16,20,23,25,26
Cigarettes and cigars
30
Clay products
9,38
Coal
5,9,23,34,35
Cocoa
23,29
Coffee
23,29
Coke..
35
Combustion, atmosphere, heating equipment
34
Communication
2,20,25
Confectionery, sales
29
Construction:
Contracts
10
Costs
10,11
Employment, unemployment, hours, earnings.. 13-16
Fixed investment, structures
1
Highways and roads
10,11
Housing starts
10
Materials output indexes
11
New construction put in place
10
Consumer credit
18
Consumer expenditures
1
Consumer goods output, index
4
Consumer price index
8
Copper
33
Corn
27
Cost of living (see Consumer price index)
8
Cotton, raw and manufactures
8,9,22,38,39
Cottonseed oil
30
Credit, short- and intermediate-term
18
Crops
3,8,27,28,30,38
Crude oil..
5,35
Currency in circulation
20
Dairy products
Debits, bank.
Debt, U.S. Government.
Deflators, GNP
Department stores
Deposits, bank
Dishwashers
Disputes, industrial
Distilled spirits
Dividend payments, rates, and yields
Drug stores, sales
Earnings, weekly and hourly
15,16
Eating and drinking places
12,13
Eggs and poultry
3,8,9,29
Electric power
5,9,26
Electrical machinery and equipment
4,6,
7,9,14,15,20,23,24,34
Employment estimates
14
Expenditures, U.S. Government
13,19
Explosives
26
Exports (see also individual commodities)
1,3,22-24
3,8,9,27
17
19
2
12,13
17,20
34
16
27
2,3,20, 21
12,13
Hardware stores
12
Heating equipment. .
9,34
Hides and skins
9,30
Highways and roads.
10,11
Hogs..
28
Home electronic equipment
9
Home Loan banks, outstanding advances.
11
Home mortgages
11
Hosiery
40
Hotels and motor-hotels
25
Hours, average weekly, aggregate.
15
Housefurnishings
1,4,8, 11,12
Household appliances, radios, and television sets.
8.9, 12,34
Housing starts and permits.
10
Imports (see also individual commodities)... 1,3,23,24
Income, personal
2, 3
Income and employment tax receipts
19
Industrial production indexes:
By industry
4,5
By market grouping.
4
Installment credit
13,18
nstrnments and related products
4,6,14,15
nsurance, life,
19
nterest and money rates
18
nventorirs, manufacturers* and trade
5-7,11,12
nventory-sales 'ratios
5
Iron and steel. 1
4,9,11,20,23,31,32
Labor advertising index, stoppages, turnover
16
Labor force
13
Lamb and mutton
28
Lead
33
Leather and products
4,9,14-16,30
Life insurance
19
Livestock
3,8,9, 28
Loans, real estate, agricultural, bank, brokers*
(see also Consumer credit)
11,17,18,20
Lubricants
35,36
Lumber and products
4,9,11,12,14,15,20,31
Machine
tools
34
Machinery
4,6,7,9,14,15,20,23,24,34
Mail order bouses, sales
12
Manmade fibers and manufactures
9,39
Manufacturers* sales (or shipments), inventories,
orders
5-7
Manufacturing employment, unemployment, production workers, hours, man-hours, earnings... 14-16
Manufacturing production indexes.
4,5
Margarine.
29
Meat animals and meats
3,8,9,22,23,28,29
Medical and personal care
8
Metals
4-7,9,14,15,20,22,23,31-33
Milk
27
Mining and minerals
2,4,5,9,14-16,20
Monetary statistics
19,20
Money supply
20
Mortgage applications, loans, rates
11,17,18,19
Motor carriers
24
Motor vehicles
1,4,6,8,9,11,20,23,40
Motors and generators
34
National defense expenditures
1,19
National income and product
1,2
National parks, visits
25
Newsprint
23,37
New York Stock Exchange, selected data
21,22
Nonferrous metals
4,6,7,9,20,23,33
Noninstalhnent credit
18
Oats
Oils and fats
Orders, new and unfilled, manufactures'
Ordnance
27
9,23,29,30
7
14,15
Paint and paint materials
Paper and products and pulp
9,26
,
4-6,
9,14-16,20,23,36,37
Parity ratio
8
Passenger cars
1,4,6,8,9,11,12,20,23,24,40
Passports issued
25
Personal consumption expenditures
1
Personal income
2,3
Personal outlays
2
Petroleum and products.
4-6,
8,9,14,15,20,23,35,36
Pig iron
31,32
Plant and equipment expenditures
2
Plastics and resin materials
26
Population
13
Pork
28,29
Poultry and eggs
, . . 3,8,9,29
Price deflators, implicit, GNP
2
Prices (see also individual commodities)
8,9
Printing and publishing
4,14-16
Private sector employment, hours, earnings
13-16
Profits, corporate
2,20
Public utilities
2,5,10,20,21,26
Pulp and pulpwood
36
Purchasing power of the dollar
9
Radio and television
4,11,34
Railroads
2, 16, 17,21,24,25,40
Ranges
34
Rayon and acetate
39
Real estate
11,17,19
Receipts, U.S. Government.
19
Recreation
8
Refrigerators
34
Registrations (new vehicles)
40
Rent (housing)
'8
Retail trade
5,7,12-16,18
Rice
28
Rubber and products (incl. plastics)
5,6,
9,14-16,23,37
Saving, personal
2
Savings deposits.
17
Securities issued
20
Security markets
20-22
Services
1,8,14-16
Sheep and lambs
28
Shoes and other footwear
9,12,30
Silver
19
Soybean cake and meal and oil
30
Spindle activity, cotton
39
Steel (raw) and steel manufactures
23,31,32
Steel scrap
31
Stock market customer
financing
20
Stock prices, earnings, sales, etc
21,22
Stone, clay, glass products
4-6,9,14,15,20,38
Sugar
23,29
Sulfur
25
Sulfuric acid
25
Superphosphate
25
Tea imports
29
Telephone and telegraph carriers
25
Television and radio
4,11,34
Textiles and products
4,6,9,14-16,20,23,38-40
Tin
33
Tires and inner tubes.
9,12,13,37
Tobacco and manufactures
5,6,8,14,15,30
Tractors
34
Trade (retail and wholesale)
5,11,12,14-16
Transit lines, local
24
Transportation
1,2,8,14-16,20-22.24, 25
Transportation equipment
4,6,7,14,15,20,40
Travel
24,25
Truck trailers
40
Trucks (industrial and other)
34,40
Unemployment and insurance
U.S. Government bonds
U.S. Government
Utilities
13,17
17-21
finance
19
2,5,8,10,21,22,26
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Veterans* benefits
Wages and salaries
Washers and dryers
Water heaters
Wheat and wheat
Wholesale price indexes
Wholesaleteade
Wood pulp
Wool and wool manufactures.
Zinc.
34
12,13
23,29,30
8,9
17
flour
2,3,15, 16
34
f4
28
_/** J
5,7,11,14-16
0fJ
9» 39
33
UNITED STATES
Reissued by Popular Demand
lii|iiil-lliil|inl Structure
of the n. Economy: 19117
Second Printing
From the U.S. DEPARTMENT OF COMMERCE,
Bureau of Economic Analysis
'^ii^^mmLi
•PGet the detailed input-output tables for 367 industries from the
Superintendent of Documents, U.S. Government Printing Office,
Washington, D.C. 20402.
D Volume 1—Transactions Data for Detailed Industries, $3.85
C56.109/4:ln 7/967 Vol. 1
D Volume 2—Direct Requirements for Detailed Industries, $3.75
C56.109/4:ln 7/967 Vol. 2
D Volume 3—Total Requirements for Detailed Industries, $3.75
C56.109/4:ln 7/967 Vol. 3
Specify the volumes desired and indicate the catalog number and
major title, Input-Output Structure of the U.S. Economy: 1967.
Make check payable to the Superintendent of Documents.
@FedFRASER