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JANUARY 1979 / VOLUME 59 NUMBER
SURVEY OF CURRENT BUSINESS
CONTENTS
THE BUSINESS SITUATION
1
National Income and Product Tables
10
/ wN
U.S. Department of Commerce
Key Source Data and Projections for National Income
and Product Estimate: Fourth Quarter 1978
19
Plant and Equipment Expenditures: Year 1979
22
Total Personal Income, States and Regions
24
Labor Mobility in 1960-65 and 1970-75
25
Gross Product of U.S. Affiliates of Foreign Companies
28
Juanita M. Kreps / Secretary
Courtenay M. Slater / Chief Economist
for the Department of Commerce
Bureau of Economic Analysis
George Jaszi / Director
Allan H. Young /
Deputy.Director
Carol S. Carson / Editor-in-Chief,
Survey of Current Business
Manuscript Editor: Dannelet A. Grosvenor
Graphics Editor: Billy Jo Hurley
Staff Contributors to This Issue: Kenneth P. Berkman, Robert Brown, Douglas R. Fox, Ned G. Howenstine, Robert M. Lipovsky, Virginia K. Olin, Edward I.
Steinberg, Teresa L. Weadock, John T- Woodward
CURRENT BUSINESS STATISTICS
General
S1-S25
Industry
S25-S40
Subject Index {inside Back Coper)
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 1,1980.
U.S. DEPARTMENT OF COMMERCE DISTRICT OFFICES
ALA., Birmingham 35205
908 S. 20th St. 254-1331
ALASKA, Anchorage 99501
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ARIZ., Phoenix 85073
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CALIF., San Francisco 94102
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GA., Savannah 31402
222 U.S. Courthouse & P.O. Bldg.
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ILL., Chicago 60603
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IND., Indianapolis 46204
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MICH., Detroit 48226
445 Federal Bldg. 226-3650
MINN., Minneapolis 55401
218 Federal Bldg. 725-2133
N.C., Greensboro 27402
203 Federal Bldg. 378-5345
TEX., Dallas 75242
1100 Commerce St. 749-1515
OHIO, Cincinnati 45202
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TEX., Houston 77002
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MO., St. Louis 63105
120 S. Central 425-3302
NEBR., Omaha 68102
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OHIO, Cleveland 44114
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OREG., Portland 97204
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NEV., Reno 89503
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PA., Philadelphia 19106
600 Arch Su 597-2850
UTAH, Salt Lake City 84138
125 South State St. 524-5116
VA., Richmond 23240
8010 Federal Bldg. 782-2246
WASH., Seattle 98109
Rm. 706 Lake Union Bldg. 442-5615
COLO., Denver 80202
19th & Stout St. 837-3246
CONN., Hartford 06103
450 Main St. 244-3530
IOWA, Des Moines 50309
210 Walnut St. 284-4222
NJ., Newark 07102
4th Floor Gateway Bldg. 645-6214
PA., Pittsburgh 15222
1000 Liberty Ave. 644-2850
LA., New Orleans 70130
432 International Trade Mart 589-6546
N. MEX., Albuquerque 87102
505 Marquette Ave., N.W. 766-2386
FLA., Miami 33130
25 West Flagler St. 350-5267
MD., Baltimore 21202
415 U.S. Customhouse 962-3560
N.Y., Buffalo 14202
111 W. Huron St. 846-4191
PR., San Juan OO918
659 Federal Bldg. 753-4555
S.C., Columbia 29204
2611 Forest Dr. 765-5345
WIS., Milwaukee 53202
517 E. Wisconsin Ave. 291-3473
GA., Atlanta 30309
1365 Peachtree St., N.E. 881-7000
MASS., Boston 02116
441 Stuart St. 223-2312
N.Y., New York 10007
26 Federal Plaza 264-0634
TENN., Memphis 33103
147 Jefferson Ave. 521-3213
WYO., Cheyenne 82001
2120 Capitol Ave. 778-2220
W. VA., Charleston 25301
500 Quarrier St. 343-6181
the BUSINESS SITUATION
CHART 1
Real Product
Change from Preceding Quarter
Billion (1972)$
Ih.llh I.I
-10
30
CHANGE IN BUSINESS INVENTORIES
20
10
• •-
0
-10
30
PERSONAL CONSUMPTION EXPENDITURES
20
10
0
•••••_•! ••!
-10
20
FIXED INVESTMENT
10 0
-10
10
0
• »•,••-.
^P ^^ ^^ ^^
Residential (
NET EXPORTS
0 1
-10
20
10
GOVERNMENT PURCHASES
Federal
0
T
-10
1976
'
1977
'
1978
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
79-1-1
R.
LEAL GNP increased at an annual
rate of 6 percent in the fourth quarter
of 1978, compared with 2% percent in
the third quarter (table 1). (The key
source data and projections on which
this estimate is based are detailed later
in this issue.) All major components of
final sales except government purchases
increased more than in the third quarter. Inventory investment again held
down the increase in GNP, but less
than in the third quarter (chart 1).
Fourth-quarter changes in real GNP,
final sales, and change in business inventories (CBI) were dominated by
motor vehicles (chart 2). The heights
of the bars and of the vertical lines in
the chart measure real (1972 dollar)
changes from the preceding quarter.
The solid and dashed lines connecting
the bars and vertical lines help to bring
out the contribution of motor vehicles—
autos and trucks—to the acceleration
of the totals. If the slope of the dashed
line is the same as that of the solid line,
motor vehicles account for the entire
acceleration; if the slope of the dashed
line is steeper (less steep), motor vehicles more than (only partly) account
for the acceleration. As can be seen
from the chart, motor vehicle production accounted for almost the entire
fourth-quarter acceleration in GNP—
$11 billion compared with $12 billion
(annual rates). GNP excluding motor
vehicle production increased about $14
billion, or 4% percent, in both the third
and fourth quarters. Final sales of motor
vehicles only partly accounted for the
acceleration in total final sales—$6%
billion compared with $9% billion. In
contrast, motor vehicle CBI more than
accounted for the acceleration in total
CBI—$4K billion compared with $2
billion. Other CBI decreased more in
the fourth quarter than in the third—
$6% billion following with $4 billion.
Prices.—As measured by the fixedweighted price index, GNP prices increased 8% percent (annual rate) compared with 7}i percent in the third
quarter (table 2). The implicit price
deflator and the chain price index also
accelerated about 1 percentage point.
A little over one-half of the acceleration
was due to a Federal pay raise in the
fourth quarter. The remainder was in
prices of personal consumption expenditures (PCE), largely food and energy.
In contrast, capital goods prices decelerated. In particular, prices of structures increased less than in the third
quarter—about 12 percent compared
with 15 percent; these prices are always
difficult to measure.
Prices of PCE on energy increased
11% percent (annual rate) compared
with 7% percent in the third quarter.
The step-up was in energy goods,
mainly gasoline, for which demand has
been strong. In food prices, the step-up
was in food purchased for consumption
at home and was centered in meats,
poultry, and fish, prices of which had
declined in the third quarter, and in
dairy products. Prices of restaurant
meals continued to increase rapidly,
but somewhat less than in the third
quarter.
Labor markets.—The fourth-quarter
acceleration of GNP was mirrored in
employment and average weekly hours.
Employment increased much more than
in the third quarter. As measured by
the household survey, it was up 0.9
million, compared with 0.6 million in
the third quarter; as measured by the
payroll survey, it was up 0.8 million,
compared with 0.4 million (table 3).
The strengthening was mainly in goods1
SUEVEY OF CUEKENT BUSINESS
January 1979
producing industries, especially durThe increase in the labor force was culture Act of 1977. In addition, cash
ables manufacturing. Average weekly 0.8 million, compared with 0.6 million receipts from marketings increased
hours in the private nonfarm economy in the third quarter. It fell short of the much more than in the third quarter,
held steady at 35.8, after a decline of increase in employment, and unem- reflecting pickups in livestock prices
0.2 in the third quarter. In manufac- ployment and the unemployment rate and crop volume. A large increase in
turing, average hours, which had been were down. The latter fell to 5.8 percent expenses, which had shown little change
in the third quarter, was a partial
40.4 in the third quarter, increased to from 6 percent in the third quarter.
40.6 in the fourth; overtime hours
Productivity and costs.—Changes in offset.
increased from 3.5 to 3.7.
A deceleration in nonfarm proprietors'
real gross product, hours, and compensation in the business economy other income, from an increase of $3% billion
than farm and housing are shown in (annual rate) in the third quarter to $3
CHART 2
table 4. Setting aside the first quarter billion in the fourth, was more than
of
1978, changes in gross product were accounted for by California's ProposiContribution of Motor Vehicles to
accompanied
by changes in hours and tion 13. In the third quarter, ProposiChange From Preceding Quarter
compensation
of comparable size. Ac- tion 13 had reduced property tax
Billion (1972) $
40
cordingly, in each quarter after the liabilities of owners of nonresidential
PRODUCTION
first, real gross product per hour in- and residential property. Proposition 13
creased at about the same annual was responsible also for the deceleration
rate—2 percent. Increases in compen- in rental income of persons. (For a
-GNP
sation per hour and in unit labor cost discussion of the effect of Proposition 13
were in a narrow range—the former on the third-quarter national income
between 8% and 9% percent and the and product estimates, see the Septemlatter between 6 and 7 percent. The ber issue of the SURVEY OF CURRENT
year-over-year change in real gross BUSINESS.) Transfer payments inproduct per hour was 0.5 percent— creased $3 billion, after an unusually
large increase of $10 billion in the
quite low in historical perspective.
third quarter; the third quarter had
Personal income and its disposition
included a $5% billion cost-of-living
Motor Vehicles
Personal income increased $54% bil- increase in social security benefits.
If the special factors shown in the
lion (annual rate) in the fourth quarter,
-10
accompanying
tabulation are excluded
compared
with
$49K
billion
in
the
third
40
(table 5). Wage and salary disburse- from changes in third- and fourthFINAL SALES
ments increased $35% billion, compared quarter personal income, the accelerawith $23 billion. In private wages and tion was much larger—$10 billion (ansalaries, the bulk of the acceleration nual rate) in adjusted personal income
was in manufacturing, where it centered compared with $5% billion in personal
in durable goods and can be traced to income.
employment and, to a lesser extent, to
[Change from preceding auarter: billions of dollars
hours. Wages and salaries in the disat seasonally adjusted annual rate]
tributive and service industries also
1978
increased substantially more than in
IV
the third quarter; in the distributive
III
industries, third-quarter wages and
54.7
49.3
salaries had been depressed by a rail Personal income .
2.5
Less: Federal pay raise
strike. In contrast, wages and salaries
-.3
Proposition 13
3.1
-10
Cost-of-living increase in social
in construction, which is included in
5.7
security benefits
-.4
1.7
Federal payments to farmers
other commodity-producing industries,
1.2
Deficiency payments..
-.4
increased less than in the third quarter.
50.8
40.9
In government, the 5.5-percent Federal Adjusted personal income
pay raise added $2% billion to fourthPersonal taxes increased a little less
quarter payrolls.
Farm proprietors' income increased than in the third quarter—$12 billion
$4% billion (annual rate) compared compared with $14 billion (annual
with $1 billion in the third quarter. rates). The third-quarter increase in
Most of the step-up was due to Federal Federal taxes had reflected a return to a
1978
payments to farmers, specifically to normal level of refunds; refunds, which
Seasonally A d j u s t e d at A n n u a l Rates
deficiency payments under the target are netted against payments, had been
price provisions of the Food and Agri- unusually large—about $6 billion—in
U.S. Department of Commerce, Bureau of Economic Analysis
SURVEY OF CURRENT BUSINESS
January 1979
Table 1.—-Gross National Product in Current and Constant Dollars, 1978
[Quarters at seasonally adjusted annual rates]
Constant (1972) dollars
Current dollars
Percent change from preceding period
Billions of dollars
Year
Gross national product
Final sales _
Change in business inventories
Less: Rest-of-the-world product._
Equals: Gross domestic product
I
II
IV
Year
I
III
II
IV
Year
I
II
III
IV
2,106.6
1,992.0
2,087.5
2,136.1
2,210.8
1,385.1
1,354.2
1,382.6
1,391.4
1,412.2
3.9
-0.1
8.7
2.6
6.1
2,090. 9
1,975. 3
2,067.4
2,122. 5
2,198. 4
1,374. 7
1,341. 8
1,369. 9
1,382.4
1,404. 5
3.8
-1.6
8.6
3.7
6.6
15.7
16.7
20.1
13.6
12.4
10.4
12.3
12.7
9.0
7.7
19.5
18.2
21.1
18.8
20.0
7.9
7.5
8.8
7.5
7.8
7.5
64.1
85.3
-46.0
16.6
2,087.1
1,973.8
2,066.5
2,117.3
2,190.8
1,377.2
1,346.6
1,373.9
1,383.9
1,404.4
3.9
-.4
8.3
3.0
6.1
the first half of 1978. An acceleration
of State and local taxes was a partial
offset. The third-quarter increase in
these taxes had been held down by an
income tax cut of about $0.3 billion in
New York State.
Disposable personal income—personal income less personal taxes—
increased $43 billion, or 12 percent
(annual rates), compared with $35 billion, or 10 percent, in the third quarter
(chart 3). After adjustment for the
increase in PCE prices, disposable income was up 5 percent compared with
3% percent in the third quarter. The
fourth-quarter increase was the largest
in 1978.
Real PCE increased 7 percent (annual rate) compared with 4 percent in
the third quarter (table 6). Most of the
acceleration was in PCE on motor
vehicles and parts; excluding these
expenditures, PCE increased about 6K
percent—only a little more than in the
third quarter.
PCE on motor vehicles and parts increased Sy2 percent (annual rate), after
a 20-percent drop in the third quarter.
In units, new passenger car sales, which
include sales to business and other final
users as well as to consumers, declined
0.1 million to 11.1 million (seasonally
adjusted annual rate) after a decline of
0.8 million in the third quarter. Sales
of domestic full-sized cars were up from
the third quarter, when several models
had been in short supply. Sales of intermediate cars declined, and sales of small
cars (sub-compacts and compacts) were
flat. This mix of sales led to manufacturers7 concern about their ability
to meet the Federally mandated Corporate Average Fuel Economy standard, which has been set at 19 miles per
III
gallon for 1979 models. To encourage
sales of fuel-efficient cars, manufacturers concentrated their two recent
price increases on large cars and largeengine options.
Domestic new car inventories totaled
1.8 million units (seasonally adjusted)
at the end of the fourth quarter, up from
1.7 million at the end of the third. The
quarterly inventory-sales ratio was
2.32—higher than the 2.0 generally
thought desirable. Inventories of new
trucks also registered a large increase in
the fourth quarter—the first increase
in 1978. Motor vehicle production
schedules for the first quarter of 1979
indicate continued strong production.
Inasmuch as most of the fourth-quarter
inciease in production went into inven-
tories, schedules may be scaled back
unless sales increase substantially.
Real PCE on other durables showed
another strong increase. The strength
of its largest component, furniture and
household equipment, is related to
continued strong sales of new and
existing houses. A strong increase was
registered also by the other nondurables
category shown in table 6. Within that
category, clothing and shoes, which increased 16 percent (annual rate), had
registered similar increases in the second
and third quarters. The fourth-quarter
increase in the remainder of this category was 11 percent and exceeded that
of recent quarters. In PCE on services,
energy services—electricity and natural
gas—declined in the fourth quarter
Table 2.—Fixed-Weighted Price Indexes, 1978
[Quarters are seasonally adjusted]
Percent change from preceding
period (quarters at seasonally
adjusted annual rates)
Index numbers (1972=100)
Year
Gross national product
154.3
149.0
152.9
II
III
IV
155.8
159.0
7.6
7.0
Year
III
11.0
7.6
IV
8.7
Less: Change in business inventories
Equals: Final sales.
154.2
148.9
152.8
155.7
158.9
7.6
7.0
11.0
7.6
8.6
Less: Exports.
Plus: Imports.
193.3
212.9
185.2
209.5
190.9
211.0
194.6
215.0
199.9
219.9
6.6
7.0
8.1
12.3
12.9
7.9
7.9
11.4
9.4
155.6
150.6
154.2
157.1
160.3
7.7
7.4
10.1
7.6
8.5
152.0
163.5
192.6
147.3
155.8
186.8
150.9
163.1
190.5
153.4
165.6
194.1
156.2
168.9
199.4
7.1
9.8
6.1
7.9
13.6
3.3
10.2
20.3
8.4
6.7
6.3
7.7
7.5
8.0
11.3
10.1
11.5
5.9
12.4
10.4
Equals: Final sales less exports plus
imports
Personal consumption expenditures
Food 1
Energy
Other personal consumption
expenditures
144.9
141.2
143.7
146.1
148.5
6.4
6.7
7.5
Other
Nonresidential structures
Producers' durable equipment.._
Residential
Government purchases
161.8
171.0
155.4
178.5
158.0
156.2
163.3
151.1
168.6
153.4
159.9
168.1
154.0
175.5
156.4
163.4
173.5
157.0
182.3
158.9
167.3
178.3
159.3
187.7
162.9
8.5
9.4
7.7
12.1
7.6
6.6
6.2
7.1
6.2
6.6
9.8
12.5
8.0
17.5
7.8
9.1
13.4
154.7
160.2
151.4
154.9
153.1
158.6
154.5
161.9
159.8
165.0
4.9
7.8
4.5
10.0
3.9
8.1
Federal
State and local.
1. Gasoline and oil, fuel oil and coal, electricity, and gas.
6.9
16.4
6.7
14.3
7.9
January 1979
SURVEY OF CURRENT BUSINESS
Table 4.—Real Gross Product, Hours, and
Compensation in the Business Economy
Other Than Farm and Housing, 1978
Table 3.—Selected Labor Market Indicators, 1978
[Quarters seasonally adjusted]
Year
11
I
[Percent change from preceding period, quarters at seasonally adjusted annual rates]
Change
Levels
III
IV
Year*
I*
II
III
IV
Year
Household Survey
Civilian labor force (millions)
Employment
Unemployment
_
Unemployment rate (percent) E mployment-population ratio
Civilian labor force
rate (percent):
100.4
94.4
6.0
99.3
93.1
6.2
100.1
94.1
6.0
100.8
94.7
6.0
101.5
95.6
5.9
2.8
3.6
-.8
0.5
.8
-.3
0.9
1.0
-.2
0.6
.6
0
-. 1
6.0
6.2
6.0
6.0
5.8
—1.0
-.3
-.2
0
-.2
58.6
58.1
58.6
58.7
59.0
1.3
.3
.5
.1
.3
63.2
79 8
49.6
58 0
62.8
79.9
49.0
56.9
63.1
79.8
49.4
57.9
63.3
79.6
49.8
58.7
63.5
79.8
50.1
58.5
.7
0
1.3
1.6
.1
0
.2
-.2
.3
-.1
.4
1.0
.2
-.2
.4
.8
.2
.2
.3
-.2
0.8
.9
Real gross product
Hours
Compensation
I
II
III
IV
0.7
4.4
16.6
11.9
9.5
18.8
2.0
0
9.3
7.3
5.1
14.3
.5 - 3 . 6
9.3 11.7
8.7 15.9
2.2
8.5
6.1
2.0
9.3
7.1
2.1
8.8
6.6
4.7
4.1
13.9
Real gross product per
hour
Compensation per hour.
Unit labor cost
participation
Total
its cyclical low in the second quarter of
1975, investment in motor vehicles has
Establishment Survey
increased almost 100 percent (22 perEmployment,
nonfarm
payroll
cent per year) and is 40 percent above
.4
1.4
3.5
.8
.8
87.0
85.7
86.1
(millions)
_ _
_
84.3
85.8
its previous peak.
.1
.
4
.6
1.1
. .2
25.9
25.4
25.5
Goods-producing. . _ _ _
24.8
25.4
0
.3
.3
.2
.7
20.3
20.6
20.3
Manufacturing
20.1
20.3
Investment in PDE other than
.
1
.1
.1
5.2
.5
.4
5.3
5.1
4.6
5.1
Other
_
motor
vehicles increased 3 percent
1
.
3
.
2
.2
.3
24.6
1.1
24.2
24.4
23.9
Distributive
- _
24.3
1.0
.2
.2
21.0
.3
20.6
20.8
.3
Services 2
20.3
20.7
(annual
rate) in the fourth quarter,
0
.1
0
.4
15.5
15.5
15.6
15.4
Government.15.5
.2
compared
with 8 percent in the third.
Average weekly hours, private nonfarm:
Quarterly changes are irregular because
-.2
0
-.3
.3
35.8
-.2
36.0
35.8
35.7
Total
35.8
shipments of equipment are subject to
-.2
.2
.1
-.3
40.6
40.4
40.2
40.6
40.4
Manufacturing- ._
.4
large, erratic fluctuations. For example,
1. Transportation and public utilities, and wholesale and retail trade.
shipments of aircraft, which had in2. Services, and finance, insurance, and real estate.
* Changes in the household series are adjusted for modifications introduced in survey methodology in January 1978.
creased almost one-half billion dollars
Source: Bureau of Labor Statistics.
in the third quarter, dropped about
$1 billion in the fourth. Over the period
The saving rate—personal saving as a since its low in the fourth quarter of
after a 9K-percent increase in the third.
The pattern of these changes partly percentage of disposable personal in- 1975, investment in nonmotor vehicle
reflected the weather, which had been come—declined from 5.2 percent in the PDE has increased about 18 percent
warmer than average in the summer and third quarter to 4.8 percent in the (6 percent per year), and remains 3
in the fall. Other services increased 3% fourth (chart 4). A downdrift in the percent below its previous peak.
Investment in structures increased
percent—less than earlier in the year. rate during the year may have reflected
consumers' attempts to maintain real 5 percent (annual rate) in the fourth
purchases in the face of sharp price
increases or in anticipation of future
price increases.
Men
Women
Teenagers
_
_ _
CHART 3
Disposable Personal Income:
Change From Preceding Quarter
Billion $
100 I
80
- Current $
60
40
20
1
-20
1975
1976
1977
1978
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
CHART 4
Investment
Real nonresidential fixed investment
increased 5% percent (annual rate)
compared with 3% percent in the third
quarter (table 7). The acceleration was
due to motor vehicles; investment in
structures and in producers' durable
equipment (PDE) other than motor
vehicles increased less than in the third
quarter.
Investment in motor vehicles increased 11% percent (annual rate)
compared with a 13/2-percent drop in
the third quarter. Chart 5 places the
increase in this and other components
of real nonresidential fixed investment
in perspective. Over the period since
Personal Saving Rate
Percent
12
I
I
1975
I
I
I
I
I
I
I
I I
1976
1977
Seasonally Adjusted
U.S. Department of Commerce, Bureau of Economic Analysis
1978
January 1979
SUKVEY OF CURRENT BUSINESS
CHART 5
Real Nonresidential Fixed
Investment
Billion (1972) $
150
NONRESIDENTIAL FIXED INVESTMENT
140
130
120
110
100
90
80
70
60
-
50
-
I I I I I I I I I I ] I I I I I I I I I I I I
30
70
PDE
60 -
50 Other
40
quarter, one-half the third-quarter increase. It has increased about 26 percent
(7 percent per year) since its low in the
second quarter of 1975, with most of the
increase occurring since the fourth quarter of 1977, and it is almost back to its
previous peak. The bottom panel of
chart 5 shows that the structures total
is made up of several components that
show divergent patterns. The marked
strengthening in industrial structures
during the last year has put them well
above their previous peak. Public
utilities also strengthened recently,
and have regained their previous levels.
Existing facilities are being upgraded,
and additional electric facilities are
being constructed to meet maximum
load requirements. Commercial structures had picked up earlier, in association with the recovery in residential
construction; they remain well below
their previous peak, which had included
substantial building in excess of nearterm demand. All other structures include heterogeneous components with
widely different patterns. In the aggregate, they have recovered fully. The
pattern of their recovery reflects a combination of two major components—
hospitals, and petroleum and natural
gas exploration and drilling. Neither
component showed a clear pattern of
change until recently, when the former
weakened and the latter strengthened.
Residential investment.—Real residential investment changed little in the
fourth quarter. It has been virtually
stable since the fourth quarter of 1977,
except for a dip in the first quarter of
1978 due to the severe winter weather.
-
This stability is reflected also in housing
starts (chart 6). Setting aside January
and February, when they were down
sharply, total housing starts averaged
2,100,000 (seasonally adjusted annual
rate) in 1978, with a range of only
±75,000. Single-family starts averaged
1,475,000, with a similarly narrow range,
and multifamily starts averaged 625,000.
Stability in investment and starts
was maintained despite high and rising
mortgage interest rates. For instance,
the contract interest rate on conventional mortages on new homes increased
from 8.9 percent in December 1977 to
9.8 percent in December 1978. The
interest rate on commitments for mortgages increased even more sharply, from
8.9 percent to 10.1 percent. Fees and
charges add to the contract rates; they
amounted to about 1.2 percentage
points in December 1977, and have
moved up.
Availability of mortgage funds was
an important factor in the stability of
residential construction activity. Mortgage commitments at thrift institutions (savings and loan associations,
and mutual savings banks) provide
evidence of availability. These commitments increased through November
1978, even though in some States lending was being inhibited as interest rates
approached ceilings set by usury laws.
Change in business inventories.—Real
CBI was $7Y2 billion (annual rate) in
the fourth quarter, compared with $9
billion in the third quarter and $12K
billion in the second. Thus, the contribution of CBI to the increase in GNP
was negative in both the fourth and
Table 5.—Personal Income, 1978
[Change from preceding period; billions of dollars, quarters at seasonally adjusted annual rates]
30
Year
Motor Vehicles
Personal income ._
20 -
Wage and salary disbursements
10
I I I I I I I I I I I I I I I I I I I I I II
20
STRUCTURES
• Commercial
Public Utilities
M anufacturing _ _ Other commodity-producing __
Distributive
Services
..
__
Government and government enterprises.
Proprietors'income.
Farm _
Nonfarm
.Industrial,
,
,
,
I I I I I I I I I I I I I I I I I I I I I I I
1973
1974
1975
1976 1977 1978
Seasonally Adjusted at Annual Rates
.
791
III
IV
178.3
35.9
53.5
49.3
54.7
117.1
29.6
39.4
23.0
35.3
33.4
13.0
29.6
25.7
15.3
9.6
-.8
9.5
9.2
11.9
9.4
5.9
3.5
5.2
11.6
8.0
6.3
5.7
3.3
2.5
2.8
13.1
-2.3
5.1
4.4
7.4
4.9
8.3
-3.2
.8
2.1
3.0
1.0
3.5
4.5
2.8
2.8
8.3
7.1
5.5
.9
.1
-.6
2.1
.1
Transfer payments
17.2
3.3
1.4
9.8
3.2
Other income
38.8
10.0
10.0
11.3
10.3
8.7
4.6
2.0
1.3
1.5
Rental income of persons.-
Less: Personal contributions for social insurance
U.S. Department of Commerce, Bureau of Economic Analysis
II
I
SURVEY OF CURRENT BUSINESS
6
CHART 6
Housing Starts
Millions of units
2.51
%v
.*"*'
Single Family
January 1979
in nondurable retail trade, and was
larger in nondurable wholesale trade.
The smaller CBI in nondurable retail
trade may have reflected strength in
retail sales in November and December.
The larger CBI in nondurable wholesale
trade was mainly accounted for by
petroleum bulk stations. These estimates are based on preliminary data
for November and on projections for
December. However, it is unlikely that
revised estimates will change the picture of low nonmotor vehicle CBI in
the fourth quarter.
Net exports
Multifamily
i
I i i
i
i
i
I i
i
i
i
i I
1976
1977
Seasonally Adjusted at Annual Rates
1975
1978
Data: Census
U.S. Department of Commerce, Bureau of Economic Analysis
79-1-6
third quarters, — $1% billion and — $3%
billion. The small inventory accumulation in the fourth quarter, in conjunction with the large increase in final
sales, resulted in a sharp drop in inventory-sales ratios. Chart 7 shows constant-dollar ratios of business inventories to business final sales and to final
sales of goods and structures. Both
ratios have declined since the first
quarter of 1978, the former from 0.272
to 0.265 and the latter from 0.431 to
0.412. Both fourth-quarter ratios are
low in historical perspective.
The contribution of motor vehicles to
recent changes in the CBI was discussed in connection with chart 2.
Excluding motor vehicles, the CBI was
only about $4 billion (annual rate) in
the fourth quarter, compared with
$10% billion in the third; it had been
$14% billion in the second quarter. The
CBI was smaller in the fourth quarter
than in the third in manufacturing and
Real net exports of goods and
services increased $2 billion (annual
rate) to $11 billion in the fourth
quarter; they had declined $2 billion in
the third (table 8). The fourth-quarter
improvement was mainly due to merchandise trade.
Nonagricultural exports increased
substantially in the fourth quarter,
more than offsetting a decline in agricultural exports. The latter had been
unusually high in the third quarter,
when there were heavy shipments of
wheat and feed grains to Eastern
Europe and Southeast Asia. In nonagricultural exports, increases were
registered in all major end-use categories. Since the first quarter of 1978,
when—as shown in chart 8—the improvement in nonagricultural exports
got underway, capital goods, automo-
Table 6.—-Personal Consumption Expenditures in Current and Constant Dollars, 1978
[Quarters at seasonally adjusted annual rates]
Constant (1972) dollars
Current dollars
Percent change from preceding period
Billions of dollars
Year
Personal consumption expenditures. _.
Durables
Motor vehicles and parts
0 ther durables
.
Nondurables
Food J
Energy _
Other nondurables_
Services
Energy 2__
Other services
1. Gasoline and oil, and fuel oil and coal.
2. Electricity and gas.
I
II
III
IV
Year
I
II
III
IV
Year
I
II
III
IV
891.2
873.5
886.3
895.1
910.0
3.9
-1.4
6.0
4.1
6.8
197.6
183.5
197.8
199.5
209.6
144.7
137.8
145.8
144.8
150.2
5.0
-13.7
25.2
-2.8
16.0
89.7
107.9
84.1
99.4
92 5
105.3
89 8
109.7
92 5
117.2
61.6
83.0
59 5
78.3
64 2
81.6
60 8
84.0
62.0
88.2
2.7
6.8
-8.7
-17.2
35.7
17.6
-19.9
12.4
8.4
21.7
525.8
501.4
519.3
531.7
550.8
339.1
333.3
336.3
340.4
346.6
2.6
-5.5
3.6
5.0
7.5
-4.6
13.0
-10.7
-2.2
-.1
12.1
.2
5.4
10.8
2.7
6.4
13.6
1,339.7 1,276.7 1,322.9 1,356.9 1,402.2
269.2
65.9
190.7
257.7
64.2
179.6
267.8
64.3
187.2
272.0
65.8
193.8
279.4
69.3
202.1
165.3
33.9
140.0
165.6
33.5
134.1
164.7
33.5
138.0
164.8
34.0
141.6
165.9
34.5
146.2
.1
5.0
5.2
616.3
591.8
605.8
625.8
641.8
407.4
402.4
404.2
410.0
413.2
4.6
7.0
1.9
5.9
3.1
42 7
573.6
43 3
548.5
41 5
564.3
43 3
582.5
42 7
599.1
no o
24 6
377.8
22 5
381.7
23 0
387.0
22 7
390.5
36
4.7
41 3
5.2
-29.5
4.2
9.4
5.7
—5.9
3.7
384.2
January 1979
tive vehicles, consumer goods, and
particularly industrial supplies and
materials, have registered substantial
increases.
The increase in imports was less than
in the third quarter, and was due to
nonpetroleum imports, where a weakening in capital goods and consumer goods
more than offset a larger increase in
industrial supplies and materials. Since
the first quarter of 1978, industrial supplies and materials and automotive
vehicles have shown little change, and
capital goods and consumer goods have
increased moderately. Petroleum imports were at a daily rate of 9 million
barrels in the fourth quarter, compared
with 8.9 million in the third quarter and
9 million in the second.
Merchandise exports and imports
have been influenced by cyclical changes,
both in the United States and abroad.
In addition, the various end-use categories have been influenced by factors
specific to them. Also, it would appear
that the depreciation of the dollar in
the exchange markets in the past 2 years
has contributed to the increase in nonagricultural exports and, more tentatively, that it may have slowed the
increase in nonpetroleum imports.
SUEVEY OF CUKEENT BUSINESS
CHART 7
Constant-Dollar Business Inventories, Final Sales and Final Sales of Goods
and Structures, and Inventory-Sales Ratios
340
1000
1050
Final Sales, Billions of 1972$
Government
Eeal government purchases of goods
and services increased 5 percent (annual rate) compared with 7 percent in
the third quarter (table 9). In State
and local purchases, the major factor
in the deceleration was a smaller increase in outlays on construction.
Federal purchases other than those
reflecting the price support programs
of the Commodity Credit Corporation
(CCC) increased less than in the third
quarter. As in recent quarters, the CCC
programs were an important element
in the change of Federal purchases. In
the national income and product accounts, loan extensions under these
programs are treated as Federal purchases and redemptions of loans are
netted against purchases. In the fourth
quarter, there were substantial net extensions of loans, following small net
redemptions in the third quarter. This
swing contributed about $3% billion
(annual rate) to the change in government purchases. In the third quarter,
220
500
550
600
650
700
750
Final Sales of Goods and Structures, Billions of 1972$
800
850
Note.—End-of-quarter inventories, seasonally adjusted; final salesseasonally adjusted at annual rates. Blue lines represent ratios of inventory stocks to final sales.
U.S. Department of Commerce, Bureau of Economic Analysis
79-1-7
SURVEY OF CURRENT BUSINESS
8
January 1979
CHART 8
Merchandise Trade
Constant (1972) Dollars
Current Dollars
Billion $
50
Billion $
50
BALANCE
-50
BALANCE
l l i I i i i I i i i I i I i ri
i i
I
I
I
I
i
i
i
I
I I
I
I
I
i
I
I I
i
i
1 _5Q
150
150
EXPORTS
EXPORTS
100
100
Total
Agricultural
50
50
i
i i 1 i I j
I \ .R \ \ i i i 1 i t i
200
200
IMPORTS
IMPORTS
-
150
-
100
150
—
— 100
Total
Petroleum
— 50
50
Nonpetroleum
Nonpetroleum
I
I
I
1974
I
I
I
1975
I
i
1
I
I
I
1976
I
I
I
1
I
I
I
t
l
i
i
i
i
1
1977
1978
1974
1975
Seasonally Adjusted at Annual Rates
l
I
1976
i
1 1 11 i i i
1977
1978
U.S. Department of Commerce, Bureau Economic Analysis
79
Table 7.—Fixed Investment in Current and Constant Dollars, 1978
[Quarters at seasonally adjusted annual rates]
Current dollars
Constant (1972) dollars
Percent change from preceding period
Billions of dollars
Fixed investment
Year
I
II
III
IV
Year
I
II
III
IV
Year
I
II
III
IV
328.8
306.0
325.3
336.5
347.4
199.6
193.4
200.4
201.4
203.4
6.5
1.2
15.3
2.0
4.1
Nonresidential
Structures
Producers' durable equipment
Autos, trucks, and buses
Other
222.0
77.5
144.5
43.3
101.3
205.6
68.5
137.1
39.7
97.4
220.1
76 6
143.5
44.4
99.1
227.5
80.9
146.6
43.7
103.0
235.0
84.0
151.0
45.5
105.5
139.9
44.3
95.5
29.6
66.0
133.8
41.0
92.9
27.9
65.0
140.5
44.6
95.9
30.6
65.3
141.7
45.6
96.1
29.5
66.6
143.5
46.2
97.4
30.3
67.1
7.8
10 8
6.5
13.4
3.6
4.2
—.3
6.2
9.0
5.0
21.3
40.3
13.6
44.5
1.9
3.5
9.8
.7
-13.6
8.0
5.4
5.6
11.7
3.0
Residential.
106.8
100.3
105.3
109.0
112.5
59.7
59.5
59.9
59.7
59.8
3.6
-5.2
2.7
-1.6
1.1
4.8
SUEVEY OF CURRENT BUSINESS
January 1979
Table 8.—Net Exports of Goods and Services in Current and Constant Dollars, 1978
[Quarters at seasonally adjusted annual rates]
Current dollars
Constant (1972) dollars
Percent change from preceding period
Billions of dollars
Net exports of goods and services
Year
Year
I
-11.8
-24.1
-5.5
-10.7
-6.9
8.6
2.9
11.3
9.2
11.0
205.2
142.1
29.8
112.2
63.1
181.7
122.7
26.1
96.6
59.0
205.4
140.3
32.0
108.3
65.1
210.1
147.7
31.7
116.0
62.4
223.5
157.6
29.6
128.0
65.9
107.3
74.7
99.1
67.7
108.4
74.5
109.0
77.0
112.6
79.7
32.6
31.5
34.6
32.0
217.0
176.6
42.8
133.8
40.4
205.8
167.5
39.7
127.8
38.3
210.9
171.5
42.0
129.5
39.4
220.8
179.9
43.9
136.0
40.9
230.4
187.6
45.6
142.0
42.8
98.7
76.5
96.2
74.5
97.1
75.3
99.7
77.4
22.2
21.7
21.9
22.3
22.8
Exports
M erchandise
Agricultural
Nonagricultural
Other
Imports
Merchandise
_
Petroleum
Nonpetroleum
Other
II
III
IV
I
II
III
IV
Year
I
II
III
IV
9.3
9.5
13.7
7.1
43.3
46.8
14.2
14 2
14.9
32.9
8.8
29.7
35.8
-21.5
12.6
101.6
78.7
11.2
11.9
15.2
16.6
3.7
4.2
11.2
11.9
7.7
7.1
9.0
10.8
2.3
8.7
9.8
1.9
Table 9.—-Government Purchases of Goods and Services in Current and Constant Dollars, 1978
[Quarters at seasonally adjusted annual rates]
Current do! lars
Constant (1972) dollars
Percent change from preceding period
Billions of dollars
Year
State and local __
III
IV
Year
I
II
III
IV
I
Year
II
III
IV
434.2
416.7
424.7
439.8
455.6
275.2
272.1
271.9
276.7
280.1
2.2
-3.5
-0.2
7.2
5.1
151.5
97.9
53.6
147.2
98.6
48.6
154.0
99.6
54.5
163.4
102.1
61.3
100.5
101.2
97.1
100.4
103.3
-1.1
-8.9
-15.3
14.3
12.0
_ -
154.0
99.5
54.5
.
280.2
265.2
277.6
285.8
292.2
174.7
170.8
174.8
176.3
176.8
4.2
-.1
9.6
3.4
1.3
Government purchases of goods and services
Federal .
National defense
Nondefense . _
II
I
the CCC contribution to the change
had been $2% billion.
NIP A Federal sector—Table 10
rounds out the information on Federal
receipts and expenditures. The entry
for corporate profits tax accruals, and
hence those for total receipts and for
the deficit, cannot be filled in, because
estimates of fourth-quarter corporate
profits are not yet available. Corporate
profits on which taxes are accrued will
increase much more in the fourth
quarter than in the third, reflecting
the much larger increase in GNP and
an increase in inventory profits. Accordingly, the increase in corporate
profits taxes will be much larger in the
fourth quarter than in the third quarter.
With a reasonable assumption about
the magnitude of the increase, the
Federal deficit on a national income
and product account basis will be less
than the $23 billion (annual rate) registered in the second and third quarters.
285-100 O - 79 - 2
Table 10.—Federal Government Receipts and Expenditures, NIPA Basis, 1978
[Billions of dollars; quarters at seasonally adjusted annual rates]
Change from preceding period
Year
Receipts
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax
accruals
Contributions for social insurance..
Expenditures
Purchases of goods and services
National defense
Nondefense
Transfer payments
Grants-in-aid to State and local
governments
Net interest paid
Subsidies less current surplus of
Government enterprises
Less: Wage accruals less disbursements
III
IV
II
Year
III
IV
431.6
396.2
424.7
441.7
57.1
10.7
28.5
17.0
193.2
71.7
176.8
59.6
186.7
72.6
199.7
73.6
209.7
n.a.
23.8
10.4
2.0
-3.3
13.0
13.0
1.0
10.0
n.a.
27.9
138.7
26.5
133.3
27.9
137.6
28.2
140.1
29.0
144.0
2.9
20.0
.9
11.1
1.4
4.3
461.0
448.8
448.3
464.5
482.3
38.4
4.7
-.5
.3
2.5
16.2
17.8
154.0
99.5
54.5
185.3
151.5
97.9
53.6
180.2
147.2
98.6
48.6
180.7
154.0
99.6
54.5
188.8
163.4
102.1
61.3
191.4
8.9
5.2
3.7
12.6
-.7
-1.5
1.9
76.6
35.5
73.9
33.2
75.9
34.6
77.5
36.3
79.1
37.9
9.2
6.4
2.5
-4.3
.7
-5.0
.5
2.0
1.4
10.0
10.0
8.0
10.5
1.3
-1.8
0
-2.0
2.5
.2
0
0
0
.2
-.2
29.0
.8
Surplus or deficit (—), national
income and product accounts. -29.4
n.a. Not available.
II
0
-52.6
-23.6
-22.8
0
18.7
6.0
3.9
6.8
1.0
5.9
8.1
9.4
2.5
1.6
1.7
1.6
1.6
2.6
SUEVEY OF CUERENT BUSINESS
10
January 1979
NATIONAL INCOME AND PRODUCT TABLES
1977
1977
1978 v
III
1977
1978
IV
I
II
III
IV v
1977
1978 v
III
1978
IV
I
II
III
IV*
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of 1972 dollars
Billions of current dollars
Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
,887.2 2,106.6 1,916.8 1,958.1 1,992.0 2,087.5 2,136.1 2,210.8 1,332.7 1,385.1 1,343.9 1,354.5 1,354.2 1,382.6 1,391.4 1,412.2
Gross national product
857.7
891.2
858.0
876.6
873.5
886.3
895.1
910.0
178.4
479.0
549.2
197.6
525.8
616.3
177.4
479.7
557.5
187.2
496.9
571.1
183.5
501.4
591.8
197.8
519.3
605.8
199.5
531.7
625.8
209.6
550.8
641.8
137.8
330.4
389.5
144.7
339.1
407.4
136.9
329.2
391.8
143.0
338.1
395.6
137.8
333.3
402.4
145.8
336.3
404.2
144.8
340.4
410.0
150.2
346.6
413.2
297.8
344.5
309.7
313.5
322.7
345.4
350.1
359.9
196.3
210.1
201.7
200.3
205.7
213.1
210.4
211.1
282.3
328.8
287.8
300.5
306.0
325.3
336.5
347.4
187.4
199.6
189.5
192.8
193.4
200.4
201.4
203.4
Nonresidential
Structures.
_
Producers' durable equipment..
190.4
63.9
126.5
222.0
77.5
144.5
193.5
65.4
128.1
200.3
67.4
132.8
205.6
68.5
137.1
220.1
76.6
143.5
227.5
80.9
146.6
235.0
84.0
151.0
129.8
40.0
139.9
44.3
95.5
130.8
40.8
90.0
132.5
41.0
91.5
133.8
41.0
92.9
140. 5
44.6
95.9
143.5
46.2
97.4
Residential
Nonfarm structures
Farm structures
Producers' durable equipment-
91.9
88.9
1.5
1.5
106.8
103.6
1.4
1.7
94.3
91.2
1.6
1.5
100.2
97.5
1.2
1.6
100.3
97.3
1.3
1.7
105.3
102.1
1.4
1.8
109.0
105.7
1.5
1.7
112.5
109.3
1.5
1.7
57.7
55.6
.9
1.2
59.7
57.6
.8
1.3
58.8
56.6
1.0
1.2
60.3
58.4
.7
1.2
59.5
57.4
.8
1.3
59.9
57.8
.8
1.4
141.7
45.6
96.1
59.7
57.6
.8
1.3
15.6
15.0
.6
15.7
16.7
-1.0
21.9
22.0
-.1
13.1
10.4
2.7
16.7
16.9
-.2
20.1
22.1
-2.0
13.6
14.6
-.9
12.4
13.1
-.7
8.9
9.4
-.5
10.4
11.0
-.6
12.2
13.5
-1.4
7.5
6.5
.9
12.3
12.5
-.1
12.7
13.9
-1.2
9.0
9.6
-.6
7.7
8.1
-.4
-11.1
-11.8
-7.0
-23.2
-24.1
-5.5
-10.7
-6.9
9.5
205.2
217.0
180.8
187.8
172.1
195.2
181.7
205.8
205.4
210.9
210.1
220.8
223.5
230.4
98.2
88.7
8.6
107.3
175.5
186.6
394.0
434.2
399.5
412.5
416.7
424.7
439.8
455.6
269.2
145.1
94.3
50.8
248.9
154.0
99.5
54.5
280.2
146.8
94.4
52.4
252.7
152.2
97.1
55.1
260.3
151.5
97.9
53.6
265.2
147.2
98.6
48.6
277.6
154.0
99.6
54.5
285.8
163.4
102.1
61.3
292.2
Personal consumption expenditures..
Durable goods
Nondurable goods.
Services
Gross private domestic investment.
Fixed investment
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
1,206.5 1,339.7 1,214.5 1,255.2 1,276.7 1,322.9 1,356.9 1,402.2
59.8
57.8
.8
1.3
12.5
3.1
2.9
11.3
9.2
11.0
98.7
100.8
88.2
96.0
92.9
99.1
96.2
108.4
97.1
109.0
99.7
112.6
101.6
275.2
271.7
274.5
272.1
271.9
276.7
280.1
101.6
100.5
102.9
103.6
101.2
97.1
100.4
103.3
167.6
174.7
168.8
170.9
170.8
174.8
176.3
176.8
Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
1,887.2 2,106.6 1,916.8 1,958.1 1,992.0 2,087.5 2,136.1 2,210.8 1,332.7 1,385.1 1,343.9 1,354.5 1,354.2 1,382.6 1,391.4 1,412.2
Gross national product
Final sales.
Change in business inventories.
Goods..
Final sales
_._
Change in business inventories.
Durable goods...
Final sales
Change in business inventories.
Nondurable goods
Final sales
Change in business inventories.
Services
Structures..
1,871.6 2,090.9 1,894.9 1,945.0 1,975.3 2,067.4 2,122. 5 2,198.4 1,323.8 1,374.7 1,331.7 1,347.1 1,341.8 1,369.9 1,382.4 1,404.5
9.0
12.2
12.7
7.5
12.3
12.4
10.4
13.6
20.1
13.1
21.9
16.7
15.6
15.7
8.9
7.7
627.7 630.2
629.1
611.8
927.3
968.6
613.3
912.2
608.4
620.1
917.5
832.6
859.6
844.7
861.8
646.8
615.0 621.2
599.4
618.7
892.1
913.7
956.2
601.1
612.7
599.6
817.0
846.5
845.1
901.8
822.8
639.1
9.0
12.2
12.3
12.7
13.6
8.9
10.4
7.5
20.1
12.4
13.1
15.6
15.7
21.9
16.7
7.7
266.6 264.8
254.6
255.1
380.1 398.0
253.7
255.9
351.2
265.0
347.4
375.8
341.3
376.3
346.5
274.1
260.2 258.7
245.0
369.8
388.0
250.5
248.0
257.8
248.0
341.1 336.3
365.0
332.9
364.8
334.6
267.6
6.1
6.4
10.2
9.6
10.1
7.2
4.6
5.8
7.9
6.3
10.8
8.4
11.5
11.9
14.8
6.6
372.6
357.2
361.2 365.4
365.0
547.2
570.6
354.7
364.1 357.4
536.4
498.2
512.2
541.2
491.3
510.6
354.8 362.5
371. 5
354.5
543.9
568.2
353.1 362.1
351.6
360.8
527.1
488.2
484.1 537.0
505.4
508.7
2.9
6.3
1.1
3.4
2.7
2.4
2.9
4.3
3.1
3.3
4.2
9.3
7.2
10.0
1.9
6.8
862.8
191.8
962.9
226.2
875.3
196.8
893.6
204.9
926.4
203.8
952.0
223.4
973.7
235.0
999.4
242.8
602.9
121.3
627.2
128.8
606.9
123.7
609.6
124.8
620.1
122.3
625.6
129.3
629.7
131.6
633.3
132.2
Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product..
Gross domestic product
Business
Nonfarm
Nonfarm less housingHousing
Farm
_
Statistical1 discrepancy...
Residual
Households and institutionsGovernment
Federal
State and local,
Rest of the world.
1,887.2 2,106.6 1,916.8 1,958.1 1.992.0 2,087.5 2,136.1 2,210.8 1,332.7 1,385.1 1,343.9 1,354.5 1,354.2 1,382.6 1,391.4 1,412.2
1,869.9 2,087.1 1,898.7 1,942.2 1.973.8 2,066.5 2,117.3 2,190.8 1,325.3 1,377.2 1,336.3 1,347.9 1,346.6 1,373.9 1,383.9 1,404.4
1,599.3 1,789.1 1,626.4 1,660.4 1.684.1 1.771.8 1,817. 5 1,883.1 1,135.9 1,183.1 1,146.1 1,155.9 1,153.5 1,180.0 1,, 189. 3 1,209.5
1,094.2 1,146.0 1,102.6 1,112.4 1,115.4 1,145. 2 1,, 151. 8 1,171.5
1,544.0 1,730.5 1,571.6 1,601.6 1.628.9 1.714.9 1,758. 5
988.0
998.1 1,026.. 5 1,, 031. 7 1,050.0
980.5 1,026.6
996.4
1,397.8 1,566.2 1,423.2 1,449.0 1, 471. 7 1,553.2 1,592.0
171.8
121.5
157.1
118.6 120.1
114.6
117.4
113.6
152.7
119.4
116.0
148.4
161.7
166.5
146.2
164.3
33.2
63.0
33.7
53.0
30.5
34.5
32.5
34.4
54.0
47.7
56.4
32.5
36.1
58.6
50.5
57.8
2.2
4.8
7.1
.5
.4
4.7
2 4.3
4.3
4.3
7.4
7.3
5.5
4.6
9.0
62.7
71.5
63.5
65.9
68.8
70.5
72.3
74.4
42.2
44.6
42.5
43.6
43.8
44.3
44.9
45.3
149.4
48.8
100.6
149.6
48.8
100.8
149.8
49.0
100.8
149.6
48.9
100.7
7.5
8.8
7.5
7.8
208.0
66.4
141.5
226.5
71.1
155.4
208.9
65.7
143.2
215.9
69.5
146.4
221.0
69.9
151.1
224.1
70.1
154.1
227.5
70.5
157.0
233.4
74.0
159.4
147.2
48.7
98.4
149.6
48.9
100.7
147.7
48.8
99.0
148.4
48.8
17.3
19.5
18.1
15.9
18.2
21.1
18.8
20.0
7.3
7.9
7.6
6.6
Preliminary.
HISTORICAL STATISTICS
The national income and product data for 1929-72 are in The National Income and Documents; see addresses inside front cover). Data for 1973,1974, and 1975-77 are in July
1976, July 1977, and July 1978 issues of the SURVEY, respectively.
Products Accounts of the United States, 1929-1y Statistical Tables (available for $4.95, SN
003-010-00052-9, from Commerce Department District Offices or the Superintendent of
SURVEY OF CURRENT BUSINESS
January 1979
1977
1977
1978 v
III
11
1978
I
IV
II
1977
III
IV v
1977
1978 v
Seasonally adjusted at annual rates
,887.2 2,106.6 1,916.8 1,958.1 1,992.0 2,087.5 2,136.1 2,210.8
195.2
216.9
198.5
202.6
207.3
213.3
220.8
153.6
165.4
155.9
157.8
161.0
163.9
166.9
226.3"
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_»
Net interest
Interest paid by government to persons
and business
Less: Interest received
by government
Interest paid by consumers to business...
Dividends
Business transfer payments
Equals: Personal income
178.2
166.5
170.1
9.6
4.7
10.7
9.9
7.1
10.0
4.8
2.8
3.7
2.7
6.3
173.3
179.4
177.7
182.3
10.2
2.2
10.5
.5
10.9
.4
11.3
4.1
4.3
2.1
4.4
1,515.3 1,703.6 1,537.
Residual»
Equals: National income
» Preliminary.
Domestic income
160.0
106.1
154.8
97.3
148.2
99.0
132.ft
101.7
163.4
104.6
165.2
107.4
110.8
140.3
164.3
141.3
145.0
157.4
162.7
166.2
170.7
0
0
0
0
0
0
.2
0
199.2
215.2
202.0
205.9
208.9
210.1
219.6
222.4
141.2
95.4
158.9
106.1
143.6
97.3
146.0
99.0
151.4
101.7
156.3
104.6
161.7
107.4
166.3
110.8
43.0
49.4
43.3
44.5
4o. 7
48.4
50.6
52.0
25.8
30.4
26.3
27.3
28.5
29.7
30.9
32.5
28.6
43.7
33.8
49.3
29.3
44.1
29.8
46.3
31.5
47.0
33.0
48.1
34.6
50.1
36.0
51.9
10.7
9.9
10.0
10.2
10.5
10.9
11.3
1,529.0 1,707.3 1,543.7 1,593.0 1,628.9 1,682.4 1,731.7 1,786.4
1,332.7 1,385.1 1,343.9 1,354.5 1,354.2 1,382.6 1,391.4 1,412.2
131.9 129.3
137.9
4.6
19.5
130.2
130.9
131.6
132.3
131.7 134.0 135.0 137.4
9.0
7.4
5.5
4.3
139.1
4.3
,065.1 1,110.7 1,073.9 1,083.0 1,082.8 1,109.4 1,115.8
18.1
15.9
21.1
18.2
18.8
20.0
1,498. 0 1,684.1 1,519.5 1,560.9 1,584.9 1,667.1 1,709.7
17.3
19.5
18.1
15.9
133.0
140.2
1,203.8 1,253.2 1,214.6 1,224.4
1,1%. 4 1,245.3
Business
1,007.0 1, 051.1
974.5 1, 023.3
Nonfarm
25.2
23.2
Farm
7.3
4.6
Residual i
42.2
Households and institutions.
44.6
147.2 149.6
Government
Rest of the world
National income
Domestic income
7.3
17.3
1,515.3 1,703.6 1,537.6 1,576.9 1,603.1 1,688.1 1,728.4
Business.
1,227.4 1,386.1 1, 247.2 1, 279.1 1,295.2 1,., 372.4 1,409.9
Nonfarm
1,192.6 1,344. 8 1, 216.0 li, 238. 7 1,1 257. 7 :, 332.4 1,368. 5
40.0
37.4
F arm
__.
41.3
34.8
31.1
40.5
41.3
70.5
71.5
Households and institutions.
62.7
68.8
63.5
65.9
72.3
Government.
_ 208.0 226.5 208.9 215.9 221.0 224.1 227.5
Net domestic product
144.2
95.4
131.4
1,674. 7 1 870. 2 1 700. 2 1,739.6 1,766.5 11,853.2 1,896.5 11,964.5
18.2
21.1
18.8
46.4
74.4
233.4
20.0
Billions of 1972 dollars
Equals: Net national product.__ 1,203.8 1,,253.2 1,214.6 1,224.4 1,223.3 11,251.1 1,259. 2 11,279.2
Less: Indirect business tax
and nontax liability
plus business transfer
payments less subsidies plus current surplus of government
enterprise
National income.
Net national product...
128.9
1,692.0 1 889. 7 1, 718.3 1,755.5 1,784.7 11,874.2 1,915.3 1,984.5
,576.9 1,603.1 1,688. 1 1 ,728.4
[Billions of 1972 dollars]
Less: Capital consumption allowances with capital
consumption adjustment
IV V
1,404.1 1,572. 2 1., 427. 9 1, 457.8 1, 476.8 1, 558. , 596. 7 1,656.7
Business
1,363.2 1,529.1 1,387. 6 1, 413.9 1, 436.1.7 1 517. , 553. 5
Nonfarm
33.2
36.1
42.9 ~46.~9
Farm
42.2
41.0
39.1
37.9
7.1
.5
.4
Statistical discrepancy
.9
4.7
4.8
2.2
63.5
72.3
Households and institutions.
70.5
74.4
62.7
71.5
65.9
68.8
Government
208.0 226.5 208.9 215.9 221.0 224.1 227.5 233.4
Rest of the world.
Table 5.—Relation of Gross National Product, Net National
Product, and National Income in Constant Dollars (1.10)
Gross national product
Net national product
Rest of the world
- 4 1 . 6 - 5 1 . 5 - 4 2 . 6 - 4 4 . 7 - 4 6 . 3 - 4 9 . 4 - 5533..88 - 5 6 . 4
165.1
III
Table 6.—Net National Product and National Income by Sector in
Current and Constant Dollars (1.11, 1.12)
Net domestic product.-
Equals: Net national product. 1,692.0 1, 889.7 1,718. 3 1 755. 5 1,784.7 1,874.2 1,915.3 1,984.5
Less: Indirect business tax
and nontax liability...
Business transfer payments
Statistical discrepancy..
II
I
Billions of dollars
Table 4.—Relation of Gross National Product, Net National
Product, National Income, and Personal Income (1.9)
Gross national product
IV
III
Seasonally adjusted at annual rates
Billions of dollars
Less: Capital
consumption
allowances
with
capital
consumption adjustment
Capital consumption
allowances without
capital consumption
adjustment
Less: Capital consumption
adjustment
1978
Business _ _
Nonfarm
Farm
Households and institutions.
Government
l._
Rest of the world..
7.3
7.9
7.9
223.3 1, 251.1
259. 2 1,279.2
207.0 1,217.7 1,215.8 1, 242.3
251.7 1,271.4
016.8 1, 025.7 , 022.6 1, 048.5 1, 057. 0 1 ,,076.5
982.5 991.5 993.8 1, 022.8 1, 028.8
23.9
23.3
21.3
26.9
25.3
24.5
5.5
4.3
7.4
4.3
9.0
43.8
44.9
45.3
44.3
42.5
43.6
147.7 148.4 149.4 149.6 149.8 149.6
7.6
6.6
7.5
8.8
7.5
7.8
1,065.11,110.7 1,073.9 1, 083.0 1 082.8 1,109.4 1,115.8
1,057.7 1,102.8 1,066.3 1,076.4
868.3
841.4
26.9
42.2
147.2
883.9
24.7
44.6
149.6
876.1
849.1
27.0
42.5
147.7
7.3
7.9
7.6
884.3
855. 7
28.7
43.6|
148.4
6.6
075.3 1,100.6 1,108.3
882.1
857.3
24.8
43.8
149.4
906.8
884.1
22.7
44.3
149.6
913.6
888.3
25.3
44.9
149.8
26.1
45.3
149.6
7.5
8.8
7.5
7.8
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. The quarterly estimates
are obtained by interpolating the annual estimates with the statistical discrepancy deflated
by the implicit price deflator for gross domestic business product.
NOTE.— Table 6: The industry classification within the business sector is on an establishment basis and is based on the 1972 Standard Industrial Classification.
Footnotes for tables 2 and 3.
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. The quarterly estimates
are obtained by interpolating the annual estimates with the statistical discrepancy deflated
by the implicit price deflator for gross domestic business product.
2. Held constant at level of previous quarter.
NOTE.—Table 2: "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.
Table 8: The industry classification within the business sector is on an establishment basis
and is based on the 1972 Standard Industrial Classification.
SURVEY OF CURRENT BUSINESS
12
1978
1977
1978 »
1977
III
January 1979
IV
I
II
1977
III
IV 9
1977
1978i
Seasonally adjusted at annual rates
515.3 ,703.6 ,537.6 ,576.9 i,603.1 ,688.1 ,728.4
153.4 ,301.2 , 165.8 ., 199.7 i.241.0 ,287.8 ,317.1 ,358.9
Wages and salaries
Government and government enterprises
Other
Supplements to wages and
salaries
Employer contributions
for social insurance
Other labor income
Proprietors' income with inventory valuation and capital consumption adjustments
_
983.6 , 100.7
Farm
Proprietors income with
inventory valuation adjustment and without
capital consumption adjustment
Capital consumption adjustment
Nonfarm
._
Proprietors' income without inventory valuation
and capital consumption adjustments.
Inventory valuation adjustment.
Capital consumption adjustment
Rental income of persons with
capital consumption adjustment
79.4
90.4
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
_
Net interest-
090.2 , 113.4 1,148.5
216.1
884.6
201.7
791.9
208.1
813.1
211.4
839.3
213.9
876.3
216.8
896.6
222.2
926.3
200.5
172.2
178.4
190.2
197.6
203.6
210.4
94.5
105.9
79.9
92.2
82.4
96.1
90.2
100.0
93.6
104.0
95.7
107.9
98.7
111.8
99.8
112.9
97.2
107.3
105.0
110.1
114.5
121.9
20.2
25.1
16.5
25.1
21.9
24.0
25.0
29.5
24.6
29.9
21.0
29.8
26.6
28.8
29.7
34.3
-4.4
79.5
-4.8
87.8
-4.5
80.8
-4.7
82.3
-4.7
83.1
-4.8
86.1
-4.8
89.6
-4.8
92.4
81.4
91.9
82.2
84.8
86.7
90.1
93.5
97.3
-1.3
-2.1
-.7
-1.3
-2.1
-2.2
-1.8
-2.3
-.6
-2.0
-.7
-1.2
-1.5
-1.8
-2.1
-2.6
22.5
23.4
47.6
22.4
42.6
22.7
44.0
22.8
44.6
22.2
45.5
144.2
24.3
24.4
49.5
51.0
- 2 4 . 2 - 2 0 . 2 -21.3 - 2 1 . 8 - 2 3 . 3 -25.2 - 2 6 . 6
160.0
154.8
148.2
132.6
163.4
159.1
173.9
71.8
102.1
178.1
202.4
84.1
118.3
43.
49.3
58.4
69.1
-14.8 -24.3
-14.9 -18.1
95.
106.1
144.2
160.0
169.9
177.5
72.8
104.8
44.1
60.6
-7.'
-15.0
97.3
163.5
178.3
73.9
104.4
148.7
172.1
70.0
102.1
46.3
47.0
58.1
55.1
-14.8 - 2 3 .
-15.3 - 1 6 . 1
99.0
101.
180.6
205.5
85.0
120.5
48.1
184.
205.4
119.2
50.1
51.9
150.0
192.4
84.1
108.3
44.3
64.0
-24.3
-18.1
11.7
144.5
167.2
72.8
94.4
39.2
55.3
-7.7
-15.0
11.0
140.3
170.4
73.9
96.5
42.0
54.5
-14.8
-15.3
11.5
123.2
162.7
70.0
92.7
42.3
50.4
-23.5
-16.1
11.2
151.7
193.8
85.0
108.8
42.3
66.5
-24.9
-17.2
11.5
Gross domestic product of financial corporate business L—
57.0
66.6
58.7
59.8
61.8
64.9
Capital consumption allowances with
capital consumption adjustment
Net domestic product
Indirect business tax and nontax
liability plus business transfer payments less subsidies
Domestic income
Compensation of employees
Wages and salaries
Supplements to wages and salaries
„
Corporate profits with inventory
valuation and capital consumption adjustments
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment.
Capital consumption adjustment.
Net interest
IV
156.1
196.3
86.2
110.1
45.6 47.1
64.5
-20.9 -27.~8
-19.3 -19.9
11.8 12.2
68.1
154.8
148.2
132.6
-17.2 -19.3 - 1 9 . 9
104.6
107.
163.4
110.8
72.8
73.9
70.0
85.0
86.2
72.3
43.7
76.0
49.3
82.1
44.1
74.
46.3
62.6
47.0
78.4
48.1
79.0
50.1
38.0
28.0
15.6
132.5
122.6
124.6
127.4
117.9
996.1
833.9
696.4
108.7
898.7
741.6
623.5
51.9
29. C
130.5
Net domestic product-.
—
Indirect business tax and nontax
liability plus business transfer
payments less subsidies
Domestic income
134.7
137.4
117.8 129.1
921.5 1,045.6
118.9
941.8
121.5
960.0
124.3 129.1 129.7
971.8 1,038.3 1,064.3
133.2
776.3
652.5
883.9
737.3
786.3
660.4
808.1
678.1
837.4
698.7
875.1
730.6
896.4
747.4
926.5
772.4
123.8
146.5
125.5
130.0
138.7
144.5
149.0
154.1
113.5
926.5
789.9
659.8
118.0
990.5
826.0
690.4
118.4 121.6
1,013.6
845.5 874.3
705.7 729.7
116.1 137.5 118.1 121.9 130.1 135.6 139.7 144.6
113.9
143.5
59.0
84.5
39.1
45.5
-14.8
-14.7
33.7
125.1
167.0
68.6
98.4
45.0
53.5
-24.3
-17.7
37.2
122.8
145.3
59.4
85.9
39.5
46.4
-7.7
-14.8
34.4
118.7
148.5
60.4
88.0
42.5
45.6
-14.8
-15.0
35.4
100.9
140.0
55.9
84.2
43.0
41.2
-23. 5
-15.7
35.7
127.8
169.5
70.1
99.4
42.9
56.5
-24.9
-16.8
36.6
130.6
170.3
70.2
100.1
46.2 47.8
53.9
- 2 0 . 9 -27.~8
-18.9 -19.4
37. 6 38.7
769.3 810.3 776.7 783.6 783.6 811.9 814.9
76.5
77.9
76.7
77.1
77.5
77.8
78.1
78.4
692.8 732.4 700.0 706.5 706.2 734.1 736.8
86.0 89.9 86.0 87.5 87.8 89.3 90.5
606.9 642.4 614.0 619.1 618.4 644.8 646.3
92.2
Dollars
Current-dollar cost and profit per
unit of constant-dollar
gross
domestic p r o d u c t 2 . . .
Domestic income
Compensation of employees
Corporate profits with inventory
valuation and capital consumption adjustments
Profits tax liability
Profits after tax with inventory
and capital consumption
adjustments
Net interest
p Preliminary.
1.3 1., 174.7 1,060.7 1, 081. 4 1 , 096.1 1,167. 5 1,,194.0
110.9
916.4
762.2
640.3
Billions of 1972 dollars
Capital consumption allowances with
capital consumption adjustment
Net domestic product
Indirect business tax and nontax liability plus business transfer payments less subsidies
165.2
84.1
120.!
107.8
879.8
732.1
616.1
72.4
71.8
28.7
115.6 126.5 117.2 119.0 121.6 124.6 128.6 131.1
987.6 1,114.0 1,007.4 1,027.3 1,040.0 1,108.5 1,132.0
-24.9 -20.9 - 2 7 . 8
Gross domestic product
of corporate business. _ 1,160.2 1,307.1 1,183.3 1,206.1 1,223.4 1,298.0 1,328.7
Net domestic product
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
Domestic income
Compensation of employees
Wages and salaries
Supplements to wages
and salaries
134.6
164.3
71.8
92.5
39.0
53.5
-14.8
-14.9
10.6
Capital consumption allowances with
capital consumption adjustment
Table 8.—Gross Domestic Product of Corporate Business (1.15, 7.8)
Capital consumption allowances with capital consumption adjustment-
Corporate profits with inventory
valuation and capital consumption adjustments
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment Capital consumption adjustmentNet interest
Gross domestic product of nonfinancial corporate business
165.2
Addenda:
Corporate profits with inventory valuation and capital
consumption adjustments.
Profits tax liability
„_.
Profits after tax with inventory valuation and capital
consumption adjustments.
Dividends
Undistributed profits
with inventory valuation and capital consumption adjustments.
III
Gross domestic product of nonfinancial corporate b u s i n e s s . . . ,103.2 1,240.5 1,124.6 1,146.3 1,161.6 1,233.0 1,260.6
Rental income
42.1
Capital consumption adjustment
-19.6
Corporate profits with inventory valuation and capital
consumption adjustments.
II
Table 8.—Gross Domestic Product of Corporate Business—Con.
Compensation of employees...
200.8
782.9
I
Billions of dollars
Table 7.—National Income by Type of Income (1.13)
., 021.2 ., 050.8
IV
Seasonally adjusted at annual rates
Billions of dollars
National income
III
1978
1. 434 1.531 1.448 1. 463 1. 482 1. 519 1. 547
150
.156
.151
152
155
153
158
1. 284 1.375 1.297 1. 311 1. 327 1. 365 1. 389
140
.145
.140
142
145
145
145
1. 144 1.229 1.157 1. 169 1. 182 1. 220 1. 244
952 1.029
.955
973 1. 008 1. 017 1. 038
148
077
.154
.085
.158
.076
071
044
.070
.046
.082
.044
151
077
074
045
129
071
157
086
160
086
057
046
071
045
074
046
1. Consists of the following industries: Banking; credit agencies other than banks; security,
commodity brokers and services; insurance carriers; regulated investment companies; small
business investment companies; and real estate investment trusts.
2. Equals the deflator for gross domestic product of nonfinancial corporate business with the
decimal point shifted two places to the left.
SURVEY OF CURRENT BUSINESS
January 1979
1977
1977
1978
III
13
1977
1978
IV
II
III
1977
IV *
1978 v
Seasonally adjusted at annual rates
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 business inventories
ol new and used autos
New..
Used.
Addenda:
Domestic 1 output of new
autos
Sales of imported new autos 2 —..
Auto output..
77.4
70.0
74.5
73.8
79.5
75.8
80.7
70.9
76.7
68.1
72.0
71.3
80.8
77.4
77.2
Wage and salary disbursements
61.8
46.3
15.5
67.7
50.6
17.1
60.4
45.0
15.4
63.2
47.3
15.9
63.1
47.3
15.8
70.5
54.1
16.5
67.9
49.9
18.0
69.2
51.1
18.1
12.2
19.0
-6.8
-3.6
7.0
10.7
14.7
22.3
-7.6
-6.2
7.5
13.7
11.7
18.5
-6.8
-4.6
6.8
11.4
13.0
19.7
-6.7
-4.8
6.9
11.8
13.4 15.0
20.3 22.7
-6.9 -7.8
-5.8 -5.2
7.9
6.9
12.7 13.1
15.5
23.4
-7.9
-6.5
7.8
14.3
14.8
22.6
-7.8
-7.3
7.4
14.7
Commodity-producing
industries3.
Manufacturing
4
Distributive industries
Service industries5
Government and government enterprises
.6
.5
.6
.6
.6
.5
.5
.5
1.4
.8
1.9
2.5
2.5
-1.3
-1.6
3.5
1.6
-.2
.7
.1
2.6
-.6
3.4
-.9
2.7 - 2 . 2
-.2
.9
-1.4
-.2
59.4
15.3
64.0
16.7
58.4
14.8
60.2
15.5
60.5
15.7
63.6
16.9
65.3
17.0
Change in business inventories
of new and used autos
New_.
Used..
Addenda:
Domestic
output of new
autos1
_
Sales of imported new autos 2-_.
1.2
.4
1.6
1.3
-.2
.3
.1
2.0
46.1
11.9
46.2
12.0
45.2
11.5
A
1.6
1.6
-1.3
2.2
-.6
1.8 - 1 . 8
-.1
.5
45.5
11.8
44.9
11.6
47.5
12.3
208.1
211.4
213.9
216.7
222.2
92.2
96.1
100.0
104.0
107.9
111.8
29.5
92.4
22.5
23.4
22.4
22.7
22.8
22.2
24.3
24.4
66.9
17.0
Dividends
43.7
49.3
44.1
46.3
47.0
48.1
50.1
51.9
Personal interest income
141.2
158.9
143.6
146.0
151.4
156.3
161.7
166.3
Transfer payments
208.8
226.0
211.9
215.9
219.2
220.6
230.4
233.6
105.0
45.0
36.2
8.8
11.5
16.0
-4.5
-2.8
5.2
8.1
.4
.4
2.3
-1.0
-.1
2.4
0
45.3
12.0
47.4
12.0
•p Preliminary.
1. Consists of final sales and change in business inventories of new autos produced in
the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and
government purchases.
3. Consists of agriculture, forestry, and fisheries; mining; construction; and manufacturing.
4. Consists of transportation; communication; electric, gas, and sanitary services; and
trade.
5. Consists of finance, insurance, and real estate; services; and rest of the world.
NOTE.—Table 10: The industry classification of wage and salary disbursements and proprietors' income is on an establishment basis and is based on the 1972 Standard Industrial
Classification.
201.7
105.9
3.6
-.1
12.0
16.7
-4.7
-2.4
5.5
7.9
-1.1
216.1
90.4
121.9
54.0
.4
200.8
25.0
56.3
.4
410.8
313.6
279.9
235.6
114.5
54.5
.4
396.4
302.0
271.6
228.5
24.0
86.1
53.5
.5
387.0
296.1
266.4
222.8
110.1
58.3
.4
365.9
286.9
257.0
216.5
21.9
83.1
57.0
10.8 11.8
15.1 16.5
-4.3 -4.7
-2.2 -1.7
5.2
5.8
7.3
7.5
357.1
277.3
247.5
208.5
105.0
52.4
10.6
14.9
-4.3
-2.0
5.2
7.2
348.3
269.3
241.2
202.3
25.1
82.3
54.1
10.1
14.3
-4.3
-2.0
5.2
7.2
390.1
299.7
268.7
225.8
107.3
55.4
11.5
16.1
-4.6
-2.3
5.4
7.7
343.7
266.3
239.1
200.1
16.5
80.8
53.8
44.6
35.6
9.0
993.6 1,021.2 1,050.8 1,090.2 1,113.2 1,,148.5
97.2
52.1
47.8
39.3
8.4
Proprietors' income with inventory valuation and capital
consumption adjustments....
983.6 1,100.7
25.1
87.8
53.7
43.4
35.0
8.4
Other labor income
,529.0 1,707.3 1,543.7 1,593.0 1,628.9 1,682.4 1,731.7 1,786.4
112.9
54.8
44.7
35.8
9.0
Personal income
99.8
55.2
43.6
34.9
8.7
IV p
20.2
79.5
55.2
45.2
36.5
8.7
III
Farm
Nonfarm..
Rental income of persons with
capital consumption adjustment
54.0
Personal consumption ex44.4
penditures
36.0
New autos
8.5
Net purchases of used autos.
Producers' durable equipment10.6
14.8
New autos
Net purchases of used autos. - 4 . 2
-1.5
Net exports..
5.4
Exports
6.9
Imports
Government purchases of
.5
goods and services
II
Table 10.—Personal Income and Its Disposition (2.1)
72.3
Billions of 1972 dollars
Final sales
I
Billions of dollars
Table 9.—Auto Output in Current and Constant Dollars (1.16, 1.17)
Auto output.
IV
Seasonally adjusted at annual rates
Billions of dollars
Final sales.
III
1978
Old-age,
survivors, disability, and health insurance benefits
Government unemployment
insurance benefits
Veterans benefits
Government
employees
retirement benefits
Aid to families with dependent children
Other
117.3
108.5
110.1
112.1
113.7
121.1
122.4
12.5
13.8
8.9
13.6
11.4
13.4
11.5
13.7
10.4
13.8
8.5
13.5
8.7
13.3
8.0
13.7
28.8
32.8
29.2
30.5
31.3
32.5
33.2
34.4
10.6
38.1
10.8
42.5
10.6
38.7
10.7
39.4
10.7
40.9
10.
41.6
10.9
43.3
10.8
44.4
Less: Personal contributions
for social insurance
61.0
69.7
61.4
62.6
67.2
69.2
70.5
72.0
Less: Personal tax and nontax
payments...
226.0
256.2
224.6
233.3
237.3
249.1
263.2
275.0
Equals: Disposable personal
1,303.0 1,451. 2 1 319.1 1,359.6 1,391.
income
Less: Personal outlays
1,236.1 1,374.
244. 8 1,285.9 1,309.
, 433.3 I,468.4 1 ,511.4
,357.0 1 ,392.5 1 ,439.2
Personal consumption expenditures
1,206. 5 1,339. 7 1, 214.5 1,255. L, 276.7 1,, 322.9 1,356. 9 1,402.2
Interest paid by consumers
34.6
36.0
33.0
31.5
29.3
to business
29.8
28.6
33.8
Personal transfer payments
1.0
1.1
1.0
.9
to foreigners (net)
.9
1.0
1.0
Equals: Personal saving
66.9
Addenda:
Disposable personal income:
Total, billions of 1972
dollars. _.
Per capita:
Current dollars..
1972 dollars
6,009
4,271
Population (millions)
216.9
Personal saving as percentage of disposable personal
income
5.1
76.7
74.3
965.5
931.9
6,640
4,418
6,077
4,293
76.0
949.6 952.1
960.3
968.7
980.9
6,250
4,365
6,387
4,370
6,566
4,399
6,712
4,428
6,893
4,474
217.'
218.3
218.8
219.3
217.1
5.3
5.6
72.3
76.3
73.7
5.4
82.4
5.9
5.3
4.8
SURVEY OF CURRENT BUSINESS
14
1978
1977
1977
1978 v
III
January 1979
II
IV
1977
Ill
IV
1978
rv
III
1977
Seasonally adjusted at annual rates
I
II
IV v
III
Seasonally adjusted a t annual rates
Billions of 1972 dollars
Billions of current dollars
Table 11.—Personal Consumption Expenditures by Major Type of Product in Current and Constant Dollars (2.3, 2.4)
1,206.5 1,339.7 1,214.5 1,255.2 1,276.7 1,322.9 1,356.9 1,402.2
Personal consumption expenditures..
Durable goods.
_
Motor vehicles and parts
Furniture and household equipment..
Other
Nondurable goods..
Food
Clothing and shoes.
Gasoline and oil
Fuel oil and coal
Other
Services.
Housing...
Household operation..
Electricity and gas.
Other
Transportation
Other
857.7
891.2
858.0
876.6
873.5
886.3
895.1
910.0
178.4
197.6
177.4
187.2
183.5
197.8
199.5
209.6
137.8
144.7
136.9
143.0
137.8
145.8
144.8
150.2
81.5
71.3
25.6
89.7
77.6
30.3
79.5
72.0
25.8
84.0
75.3
27.9
84.1
72.1
27.3
92.5
76.5
28.8
89.8
78.9
30.7
92.5
82.9
34.2
60.0
57.6
20.2
61.6
60.3
22.8
58.6
58.0
20.3
60.9
60.3
21.8
59.5
57.4
21.0
64.2
59.8
21.8
60.8
61.0
23.0
62.0
63.0
25.2
479.0
525.8
479.7
496.9
501.4
519.3
531.7
550.8
330.4
339.1
329.2
338.1
333.3
336.3
340.4
346.6
245.2
81.5
46.5
13.5
92.4
269.2
88.9
51.1
14.8
101.8
246.4
81.4
46.0
13.1
92.8
252.6
86.7
47.5
13.9
96.2
257.7
82.9
48.3
15.8
96.7
267.8
87.5
49.1
15.2
99.7
272.0
90.5
51.5
14.3
103.3
279.4
94.6
55.6
13.7
107.6
165.1
66.6
26.6
5.6
66.4
165.3
70.7
28.1
5.8
69.3
164.9
66.2
26.5
5.4
66.3
167.6
70.2
26.9
5.7
67.8
165.6
66.8
27.1
6.4
67.3
164.7
69.5
27.5
6.0
68.5
164.8
71.8
28.4
5.6
69.8
165.9
74.5
29.3
5.2
71.7
549.2
616.3
557.5
571.1
591.8
605.8
625.8
641.8
389.5
407.4
391.8
395.6
402.4
404.2
410.0
413.2
184.6
81.6
38.0
43.6
44.2
238.8
207.2
90.9
42.7
48.2
52.7
265.4
186.9
83.7
39.5
44.1
45.0
241.9
192.0
84.6
39.3
45.3
47.3
247.3
198.1
89.6
43.3
46.3
49.7
254.4
204.1
88.9
41.5
47.4
52.1
260.6
210.1
92.6
43.3
49.3
53.7
269.3
216.6
92.6
42.7
49.9
55.2
277.4
140.3
55.4
22.4
33.0
30.8
162.9
146.6
58.0
23.2
34.7
34.2
168.8
141.2
56.1
22.9
33.2
31 0
163.6
142.4
56.3
22.5
33.8
31.9
164.9
144.2
58.7
24.6
34.1
33.0
166.5
145.8
57.0
22.5
34.5
34.0
167.4
147.4
58.3
23.0
35.2
34.6
169.8
148.9
57.9
22.7
35.2
35.0
171.4
1977
1977 1978
III
IV
II
III
1977 1978 P
IV v
in rv
Table 12.—'Federal Government Receipts and Expenditures (3.2)
169.4 193.2 167.6 174.8 176.8 186.7 199.7 209.7
162.1 187.7 161.7 169.2 171.3 181.3 194.4 203.9
7.2
5.2
5.7
5.2
5.5
5.4
5.6
5.3
.2
.2
.2
.2
.2
.2
.2
.2
Corporate profits tax accruals
61.3
71.7
62.0
62.9
59.6
72.6
73.6
Indirect business tax and nontax
accruals
Excise taxes
Customs duties l
Nontaxes
25.0
17.5
5.4
2.1
27.9
18.4
7.1
2.3
25.4
17.5
5.7
2.1
25.6
17.9
5.5
2.2
26.5
17.9
6.3
2.2
27.9
18.4
7.2
2.3
28.2
18.6
7.2
2.3
Contributions for social insurance
Expenditures
Purchases cf gocds and services
National defense
_
C ompensation of employees
Military
Civilian
Other..
Nondefense
C ompensation cf employees
Other
Transfer payments
To persons..
T o foreigners...
29.0
18.9
7.6
2.5
118.7 138.7 119.3 122.2 133.3 137.6 140.1 144.0
422.6 461.0 430.7 444.1 448.8 448.3 464.5 482.3
145.1 154.0 146.8 152.2 151.5 147.2 154.0 163.4
94.3 99.5 94.4 97.1 97.9 98.6 99.6 102.1
42.9 45.7 42.4 44.9 45.0 45.0 45.3 47.5
24.9 26.3 24.5 26.0 25.9 25.9 26.0 27.3
18.0 19.5 17.8 18.9 19.1 19.2 19.3 20.3
51.4 53.8 52.0 52.3 52.9 53.5 54.3 54.6
50.8
23.5
27.3
54.5
25.4
29.1
52.4
23.3
29.1
55.1
24.6
30.5
53.6
24.9
28.7
48.6
25.0
23.6
54.5
25.2
29.2
61.3
26.5
34.9
172.7 185.3 175.7 178.3 180.2 180.7 188.8 191.4
169.5 181.8 172.0 175.0 176.9 177.0 185.5 187.8
3.2
3.7
3.4
3.3
3.7
3.5
3.4
3.6
and local
67.4
76.6
70.9
71.1
73.9
77.5
79.1
Net interest paid
29.1
Interest paid
35.3
T o persons and business
29.8
To foreigners
5.5
Less: Interest received by Government. 6.2
35.5
43.1
34.6
8.5
7.6
28.9
35.4
29.9
5.5
6.4
30.7
37.0
30.4
6.6
6.3
33.2
40.2
32.3
7.9
7.0
34.6
42.3
33.7
8.5
7.7
36.3
44.0
35.6
8.4
7.7
37.9
46.1
36.8
9.3
8.2
Subsidies less current surplus of
Government enterprises
8.3
Subsidies
7.5
Less: Current surplus of Government enterprises
—.9
9.6
8.9
8.4
6.9
11.8
10.3
10.0
8.8
10.0
8.4
8.0
8.2
10.5
10.1
-1.5 -1.4 -1.2 -1.6
.2
-.3
Less: Wage accruals less disbursements
0
-.7
.2
Surplus or deficit (—), national
income and product accounts.. -48.1 -29.4 -56.4 -58.6 -52.6 -23.6 -22.8
III
IV v
Table 13.—State and Local Government Receipts and
Expenditures (3.4)
374.5 431.6 374.3 385.5 396.2 424.7 441.7
Personal tax and nontax receipts
Income taxes
Estate and gift taxes
Nontaxes.
_
Social insurance funds
Other funds
II
Billions of dollars
Billions of dollars
Grants-in-aid to State
governments
I
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Receipts
1978
1977
1978
-10.1 - 1 . 1 -11.9 -11.5 - 1 . 7
1.9 - 3 . 5 - 1 . 2
-38.0 -28.3 -44.5 -47.1 -50.9 -25.5 -19.3
Receipts..
296.2 327.7 301.8 307.9 315.7 327.4 329.2
Personal tax and nontax receipts.
Income taxes..
Nontaxes
Other
56.6
30.9
18.2
7.4
62.9
34.7
20.5
7.8
57.0
31.3
18.5
7.3
58.5
32.0
19.0
7.5
60.5
33.3
19.5
7.7
62.5
34.5
20.1
7.8
20.8
7.8
Corporate profits tax accruals
10.5
12.3
10.7
10.9
10.4
12.4
12.5
63.5
34.9
65.3
36.0
21.5
7.8
Indirect business tax and nontax
accruals
140.0 150.3 141.2 144.6 146.8 151.5 149.5 153.3
63.9 71.3 64.2 66.7 67.7 70.6 72.2 74.5
Sales taxes.._
62.3 63.6 62.9 63.5 64.3 65.8 61.6 62.7
Property taxes
13.7 15.4 13.9 14.3 14.7 15.1 15.6 16.1
Other
Contributions for social insurance
21.7
25.5
22.0
22.8
24.1
25.2
26.1
26.7
Federal grants-in-aid
67.4
76.6
70.9
71.1
73.9
75.9
77.5
79.1
Expenditures
Purchases of goods and services .
Compensation of employees.. _
Other
Transfer payments to persons.
266.6 299.8 270.7 278.9 284.2 297.7 305.8 311.6
248.9 280.2 252.7 260.3 265.2 277.6 285.8 292.2
141.5 155.4 143.2 146.4 151.1 154.1 157.0 159.4
107.4 124.8 109.6 113.9 L14.1 123.5 128.8 132.8
29.7
33.5
30.1
30.9
32.0
3.1
34.1
34.6
-6.5 -7.9 -6.5 -6.8 -7.1 -7.3 -8.2 -9.1
Net interest paid
13.2 14.8 13.4 14.1 14.4 14.7 15.0 15.2
Interest paid.
Less: Interest received by govern19.6 22.8 19.9 21.0 21.5 22.0 23.1 24.4
ment
Subsidies less current surplus of gov-5.6 - 5 . 9 -5.7 - 5 . 5 - 6 . 0 - 5 . 7 - 5 . 9 - 6 . 1
ernment enterprises
.3
.3
.3
.3
.3
.2
.3
Subsidies
Less: Current surplus of govern6.4
6.2
6.0
5.8
5.9
6.2
ment enterprises
0
0
0
0
0
Surplus or deficit (—), national
income and product accounts. . 29.6
27.8
31.2
29.0
31.5
29.8
23.4
18.0
11.5
21.2
6.6
18.3
12.8
19.1
9.9
19.9
11.5
20.5
9.3
21.6
1.8
Less: Wage accruals less disbursements.
Social insurance funds..
Other funds.
_
v Preliminary.
1. Includes fees for licenses to import petroleum and petroleum products.
0
22.8
SURVEY OF CURRENT BUSINESS
January 1979
1977
1977
1978 v
III
15
1978
IV
II
1977
III
IV v
1977
1978 v
Seasonally adjusted at annual rates
III
IV
Receipts from foreigners. 175.5
205.2
180.8
172.1
181.7 205.4
210.1
223.5
Exports of goods and services. _. 175.5
Merchandise
_
__ 120.6
Other
54.9
205.2
142.1
63.1
180.8
124.1
56.8
172.1
117.8
54.2
181.7 205.4
122.7 140.3
59.0 65.1
210.1
147.7
62.4
223.5
157.6
65.9
0
0
0
Payments to foreigners.. _ 175.5
205.2
180.8
172.1
181.7 205.4
210.1
223.5
Imports of goods and services. _ 186.6
151.6
Merchandise
35.0
Other
217.0
176.6
40.4
187.8
153.1
34.8
195.2
158.5
36.7
205.8 210.9
167.5 171.5
38.3 39.4
220.8
179.9
40.9
230.4
187.6
42.8
4.2
1.0
3.2
4.5
1.0
3.5
4.6
.9
3.7
4.3
.9
3.4
4.3
1.0
3.3
4.8
1.1
3.7
4.3
.9
3.4
4.5
1.0
3.6
5.5
8.5
5.5
6.6
7.9
8.5
8.4
9.3
Transfer payments (net)
From persons (net)
From government (net)
Interest paid by government
to foreigners
Net foreign investment.
0
0
0
0
Gross saving. _
272.2
318.8
285.5
274.7
284.2 326.1
326.2
Gross private saving-
290.8
320.4
310.7
304.3
305.4 319.9
325.7
Government surplus or deficit
(—), national income and
-18.6
product accounts
28.0
58.1
536.5
66.3
68.0
428.0
245.2
182.7
438.3
251.8
186.5
454.4
263.2
191.1
468.5
271 2
197.3
480.4 499.5
280 3 291 5
200.1 208.0
215.5
138.1
77.4
219.2
140.9
78.3
225.9
146.5
79.4
232.0
150 7
81.2
239.0 248.4
156 7 163 0
82.4 85.4
Wholesale trade
Durable goods
_. .
Nondurable goods
82.8
54.1
28.7
85.9
56 1
29.8
90.9
59 6
31.4
94.2
61 9
32.3
96.4 100.5
64.3 66 7
32.1 33.8
Retail trade
Durable goods
Nondurable goods
87.5
39.8
47.7
89.9
41.1
48.8
94.3
42.9
51.3
97.5
43.9
53.6
99.0 103.4
44.3 46.3
54.8 57.1
42.3
43.3
43.3
44.8
45.9
Nonfarm
Durable goods
Nondurable goods . _.
Manufacturing
Durable goods
Nondurable goods
Other
Final sales 2
76.3
76.0
15.6
55.1
30.3
72.4
Nonfarm
Durable goods
Nondurable goods
29.0
69.2
124.6
127.4 130.5
82.8
0
0
0
134.7
137.4
Wholesale trade
Durable goods
Nondurable goods
86.1
S9.0
Retail trade
Durable goods
Nondurable goods
0
0
0
292.6
279.5
6.2
0
0
0
0
326.6
339.1
Gross private domestic investment
297.8 344.5 309.7 313.5 322.7 345.4 350.1 359.9
Net foreign investment
-20.9 -24.8 -17.1 -34.1 -36.3 -18.9 -23.5 -20.7
4.7
.9
7.1
4.8
2.2
.5
...
71.4
47.2
.303
.266
.312
.273
.306
.267
.304
.266
.305
.267
.4
p Preliminary.
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories
calculated from current-dollar inventories shown in this table is not the current-dollar change
in business inventories (CBI) components of G N P . The former is the difference between two
inventory stocks, each valued at end-of-quarter prices. The latter is the change in the physical
volume of inventories valued at average prices of the quarter. In addition, changes calculated
from this table are at quarterly rates, whereas CBI is stated at annual rates.
2. Quarterly totals at annual rates.
3. Equals ratio of nonfarm inventories to final sales of business. These sales include a small
amount of final sales by farms.
NOTE.—Table 16: 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. The industry classification is
based on the 1972 Standard Industrial Classification.
Table 17: The industry classification of compensation of employees, proprietors' income,
and rental income is on an establishment basis; the industry classification of corporate profits
and net interest is on a company basis. The industry classification of these items is based
on the 1972 Standard Industrial Classification.
305.7
307.6
310.7
313.9
40.3
40.6
40.5
40.2
265.4
154.2
111.2
267.0
155.4
111. 7
270.2
157.8
112.4
273.6
159.4
114.3
276.0 278.0
160.9 162.5
115.1 115.5
129.1
84.0
45.1
128.8
83.9
44.9
129.9
84.9
45.0
131.5
86.1
45.4
132.9 133.2
87.2 87.7
45.7 45.5
52.7
35.3
17.4
53.7
36.0
17.7
55.7
37.1
18.6
56.6
37.8
18.8
56.8
38.5
18.4
57.8
38.9
18.9
59.8
26.9
32.8
60.6
27.5
33.2
61.1
27.6
33.5
61.7
27.3
34.4
62.2
27.0
35.2
62.9
27.7
35.2
23.8
23.9
23.4
23.9
24.1
24.1
316.1 318.0
40.1
40.0
1,133.9 1,148.4 1,141.1 1,167.3 1,180.3 1,201.8
..
Ratio of inventories to
final sales
Nonfarm 3
-52.6 - 2 3 . 6 - 2 2 . 8
31.5 29.8
23.4
286.4 326.6
...
Other
Final sales2
- 1 . 5 -25.2 -29.6 -21.1
.301
.267
.
Manufacturing
Durable goods
Nondurable goods
79.9
68.1
1,604.5 1,647.3 1,667.3 1,751.7 1,803.9 1,870.6
Inventories*
72.3
-16.1 - 1 7 . 2 - 1 9 . 3 - 1 9 . 9
77.9
548.5 571.0
Billions of 1972 dollars
-23.5 - 2 4 . 9 - 2 0 . 9 - 2 7 . 8
319.7
520.7
60.3
-15.3
-58 6
29.0
Statistical discrepancy
498.6
55.7
-14.8
-56.4
31.2
276.9
82.4
IV p
483.6
Farm
-48.1 -29.4
Federal
29.6
27.8
State and local
Capital grants received by the
0
0
United States ( n e t ) . . .
Gross investment..
Inventories 1
Farm..
Ratio of inventories to
final sales
Nonfarm3
Table 15.—Gross Saving and Investment (5.1)
73.7
III
Table 16.—Inventories and Final Sales of Business in Current and
Constant Dollars (5.9, 5.10)
-20.9 -24.8 -17.1 -34.1 -36.3 -18.9 -23.5 -20.7
Personal saving
66.9
76.7
74.3
Undistributed
corporate
profits with inventory
valuation and capital
consumption adjustments. 28.7
26.7
38.0
58.4
Undistributed profits
69.1
60.6
Inventory valuation adjustment.
__.
-14.8 -24.3 -7.7
Capital consumption adjustment
- 1 4 . 9 - 1 8 . 1 -15.0
Corporate capital consumption allowances with capital consumption adjustment.
120.9 132.5 122.6
Noncorporate capital consumption allowances with
capital consumption ad74.3
justment
84.4
75.9
Wage accruals less disbursements
0
II
Billions of dollars
Table 14.—Foreign Transactions in the National Income and
Product Accounts (4.1)
0
I
Seasonally adjusted at annual rates
Billions of dollars
Capital grants received by the
United States (net)
1978
.270
.234
.268
.233
.272
.237
.269
.234
.268
.234
.265
.231
Table 17.—National Income Without Capital Consumption
Adjustment by Industry (6.4)
National income without capital consump1,554. 8 1,752.7 1,578.
tion adjustment
[,619.2 ,647.2 1,735.2 1,779.8
1,537. 5 1,733. 2 1, 559.
1,603.4 ,629.0 1,714.1 1,761.1
Domestic income
Agriculture, forestry, and
fisheries
44.6
52.1
41.1
50.6
47.9
50.7
52.2
101.6
118.9
123.3
461.9
176.0
285.9
469.4
178.3
291.1
66.5
39.3
66.7
41.1
Mining and construction
100.4
117.8
103.6
104.2
Manufacturing
Nondurable goods..
Durable goods
408.9
161.7
247.2
463.7
176.6
287.0
412.9
163.7
249.2
428.7
166.6
262.1
432.5
167.6
265.0
58.4
35.0
66.1
40.3
59.6
35.4
61.3
36.6
61.3
38.6
Transportation
C ommuni cation.
Electric, gas, and sanitary
services
29.5
Wholesale and retail trade... 237.0
96.5
Wholesale
140.5
Retail
Finance, insurance, and real
177.9
estate
Services
.. 213.1
Government and government enterprises
232.7
Rest of the world.
17.3
33.4
30.4
30.0
33.3
32.7
33.1
263.8
107.1
156.7
245.5
101.1
144.3
242.9
96.8
146.1
245.7
98.2
147.5
260.0
105.5
154.5
270.5
110.4
160.1
202.3
240.4
181.5
216.1
185.5
222.0
189.9
231.0
196.6
236.8
207.2
243.0
253.4
233.8
241.5
247.2
250.7
254.6
19.5
18.1
15.9
18.2
21.1
18.8
20.0
SUEVEY OF CUKRENT BUSINESS
16
1977
1977
1978 v
in
January 1979
1978
rv
I
II
1977
III
IV p
1977
1978 v
III
Seasonally adjusted at annual rates
Rest of the world
Corporate profits with
inventory
valuation
adjustment and without capital consumption adjustment
Domestic industries
Financial*
Federal Reserve banks
Other ,
Nonfinancial
Manufacturing .
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
Electric and electronic
equipment
Motor vehicles and
equipment
Other...
Wholesale and retail trade.
Transportation,
communication, and electric, gas, and sanitary
services
Other
Rest of the world
44.2
60.0
54.8
48.2
32.6
63.4
65.2
34.6
20.7
13.9
50.0
25.0
25.1
44.5
21.7
22.8
40.3
21.6
18.7
23.2
22.3
00.9
51.7
23.9
27.8
56.1
25.5
30.6
9.6
10.0
10.3
7.9
9.4
11.7
9.1
59.1
78.1
69.9
63.5
48.7
80.6
84.5
49.5
20.9
6.2
14.6
68 1
25.4
7.6
17.8
59.5
21.9
6.2
15.7
55.6
21.9
6.4
15.5
39.2
22.7
6.9
15.7
68 9
24.3
7.3
17.0
75 4
26.0
8.0
18.0
28.6
74.7
39.6
42.8
84.7
41.8
37.6
74.7
40.6
33.7
80.2
41.1
16.6
69.8
37.0
44.6
87.8
41.7
49.4
87.1
42.5
152.09
42.63
44.56
47.10
50.98 53.52 L56.54
Nondiirablp croods
Services
150.3
141.6
143.2
146.2
149.3
151.6
154.1
129 5
145 0
141.0
136.6
155 0
151.3
129 5
145 7
142.3
130 9
147 0
144.4
133.1 L35.7
150 4 L54 4
147.1 L49.9
137 8
156 2
152.6
139 5
158 9
155.3
150.6
146.7
159.6
169.7
158.7
174.8
151.9
147.9
160.2
155 9
151.2
164.5
158.2 162.3
153.6 156.7
167.2 171.8
167.1
160.6
177.3
170.8
163.7
182.0
141.0
159 4
160.0
159.7
151.3
178 7
179.8
178.9
142.4
160 6
161.3
161.8
145.2
166 1
166.9
167.5
147.6
168 6
169.5
168.9
155.0
187 9
189.1
186.9
126.2
132.2
126.6
127 5
128.8 131.8
152.7
182 6
183.7
182.8
133.3
178.7
210 3
191.2
219.9
179.4
212 9
179.2
210 2
183.3 189.4
213.8 217.2
192.8
221.5
198.4
226.8
146.3
157.8
147.1
150.3
153.2 156.2
158.9
162.7
142 7
148.5
153.2
160.4
142 7
149.7
146.9
152.3
149.6 151.5
155.2 158.8
153.4
162.1
158.2
165.2
Gross private domestic investment
Fixed investment
Nonresidential
_
Structures
Producers' durable
equipment
Tfcpsidpntial
Nonfarm structures
Farm structures
Producers' d u r a b l e
equipment
Change in business inventories
149.6
175 7
176.7
176.5
135.1
5.7
7.0
5.7
4.3
5.4
6.6
8.2
7.9
8.2
8.1
8.3
8.2
12.3
13.4
13.8
13.4
10.4
14.3
14 4
13.7
14.6
13.2
34.2
39.1
32.8
46.1
44.6
1.8
.9
2.4
1.2
5 1
5.0
4.0
3.9
4.2
3.2
4.3
4.7
7.1
7.3
8.5
6.4
9.2
7.4
3.9
4.1
4.4
4.3
4.8
5.8
9.5
8.8
24.0
9.2
8.7
30.6
9.1
10.5
7.9
9.7
10.8
11.9
10.2
11.7
Gross national product..
143.3
154.3
144.1
146.5
149.0 152.9
155.8
159.0
22.1
16.7
22.0
25.8
Personal consumption expend141.8
itures
152.0
142.8
144.5
147.3 150.9
153.4
156.2
139.3
158.6
153.3
141.4
161.7
156.2
--—
12.8
12.9
35.1
42.9
Net exports of goods and services
Exports
Tmnorts
-. -
Government purchases of goods
and services
Federal
State and local
Table 20.—Fixed-Weighted Price Indexes for Gross N a t ional
Product, 1972 Weights (7.2)
Durable goods
Nondurable goods
16.1
17.5
17.1
17.3
19.3
20.7
13.8
14.7
14.3
12.8
15.4
15.8
10.3
7.9
9.4
11.7
9.1
Corporate profits before
deduction of capital
consumption allowances with inventory
valuation adjustment.. 265.1
292.5
277.5
272.8
260.0
294.0
299.9
255.5
282.5
267.1
265.0
250.6
282.2
290.8
9fi 0
o-i n
97 1
97 9
9fi 1
qi
9.
10.
10.
7.
9.
11.
130.5
146.4
141.5
138.2
157.1
151.9
130.6
147.2
142.8
132.1
148.6
145.0
134.5 137.2
151.7 156.4
147.5 150.6
152.3
148.7
156.3
167.2
161.1
171.0
153.6
149.9
157.4
157.6
153.0
160.8
144.3
159.2
155.4
178.5
145.6
160.4
148.5
166.1
160.1 164.9
155.5 .59.2
163.3 .68.1
151.1 154.0
168.6 175.5
169.7
163.0
173.5
157.0
182.3
173.7
166.2
178.3
159.3
187.7
181.3
199.0
193.3
212.9
181.8
202.0
181.7
203.5
185.2 190.9
209.5 211.0
194.6
215.0
199.9
219.9
Gross private domestic investment
Fixed investment
Nonresidential
Structures _
Producers' durable
e quipment
Residential Change in business inven-
a
29. 8
Federal Reserve banks ... 6.2
8.0
6.2
7.7
7.0
6.4
7.3
Other
23.6
23.3
20.9
19.8
21.1
20.8
22.5
Nonfinancial _
229.5 251.5 240.0 237.7 222.5 252.4 259.2
118.6 132.1 119.4 125.5 116.0 134.8 134.9
M anufacturing
Nondurable goods . . . 60 9 65 1 62 2 63 2 59 6 64 8 66.1
Food and kindred
products
..
10.6
9 3
10.7
9.4
8.1
9.2
Chemicals and allied
products.. .
14.2
13 5
13.2
13.7
13.7
14.2
Petroleum and coal
21.7
19.0
17.2
19 3
20.5
products..
21.4
19.6
19.3
Other
18.8
20.6
19.5
20.0
Durable goods
68.8
62 4
57 7
57 2
56 4
70 0
67 0
Primary metal in
9.3
dustries
49
6 5
5 4
5 8
94
Fabricated
metal
6.8
5.3
5.9
6.0
6.2
6.4
products
Machinery,
except
12.
electrical
11.5
11.9
12.
14.0
11.
Electric and electronic
9.
equipment . .
7.
7.
7.
8.
8.
Motor vehicles and
13.
equipment
12.
12.
12.
14.
11.
17.
14
14
16
15
Other
17
39.
Wholesale and retail trad
43.
34.
29.
35.
36.
Transportation,
com
nunication, and electric
gas, and sanitary serv
49.
ices
44.
45.
47.
42.
44.
35.
Other
34.
32.
32.
31.
31.
Gross national product... 41.61
Personal consumption expenditures
140.7
Durable goods
10.0
Rest of the world
IV v
Table 19.—Implicit Price Deflators for Gross National Product (7.1)
9.6
Domestic industries
III'
Index numbers, 1972=100
Table 18.—Corporate Profits by Industry (6.18)
Domestic industries.
Financial»
Nonfinancial
II
I
IV
Seasonally adjusted
Billions of dollars
Corporate profits with
inventory
valuation
and capital consumption adjustments
1978
9.
Net exports of goods and services
Exports
Imports
Government purchases of goods
and services
Federal
State and local
Addenda:
Final
Gross sales
domestic product - - - Business
Nonfarm
146.8
158.0
147.4
151.0
153.4 156.4
158.9
162.9
144.9
148.1
154.7
160.2
144.6
149.3
149.6
152.0
151.4 153.1
154.9 158.6
154.5
161.9
159.8
165.0
143.3
142.8
142.9
142.9
154.2
153.8
153.9
153.2
144.0
143.6
143.7
143.8
146.4
146.0
145.9
145.7
148.9
148.5
148.3
147.6
155.7
155.3
155.6
154.6
158.9
158.6
158.7
157.5
152.8
152.5
152.6
151.4
l.^onsSSVthe following industries: Banking; credit agencies other than banks; security;
commodity brokers and services; insurance carriers; regulated investment compani es; small
business investment companies; and real estate investment trusts.
NOTE.—Table 18: The industry classification is on a company basis and is basedL on the
1972 Standard Industrial Classification
SUEVEY OF CURRENT BUSINESS
January 1979
1977
1977
1978 v
III
17
1977
1978
IV
II
Ill
1977
IV
1978 v
III
Seasonally adjusted
Gross national product. - 141.61 152.09 142.63 144.56 147.10 150.98 153.52 156.54
Goods
152.1
142.3
144.4
147.2
150.9
153.5
156.5
136.8
145.8
137.7
138.6
140.9
145.3
147.2
149.8
Final sales
136.3
Change in business inventories
_
145.8
136.9
138.2
141.0
145.1
147.1
149.6
142.0
141.5
135.4
134.9
137.9
137.3
141.0
140.3
143.5
143.0
145. 2
145.0
Durable goods
Final sales
Change in business inventories.
Nondurable goods
Final
sales
Change
in business inventories
Services
Structures
134.5
134.3
136.2
136.1
I
II
III
IV
Index numbers, 1972=100
Table 21.—-Implicit Price Deflators for Gross National Product by
Major Type of Product (7.3)
141.4
IV
Seasonally adjusted
Index numbers, 1972=100
Final sales
Change in business inventories
1978
138.5
137.7
148.6
148.8
139.4
138.3
140.3
139.6
143.0
143.5
148.5
148. 5
149.8
150.0
153.1
152.9
143.1
158.1
153.5
175.6
144.2
159.1
146.6
164.1
149.4
166.7
152.2
172.7
154.6
178.6
157.8
183.7
Table 24.—Implicit Price Deflators for Net National Product and
National Income by Sector (7.7)
140.6
150.8
141.5
143.4
145.9
149.8
152.1
140.0
150.2
140.9
142.9
145.3
149.2
151.5
154.5
139.4
139.9
143.3
149.6
149.4
181.5
140.4
141.2
131.2
142.1
142.6
145.4
144.4
144.6
163.0
148.6
148.3
192.6
151.1
151.0
179.2
153.9
Households and institutions. 148.3
141.3
Government
160.4
151.4
149.4
141.4
151.1
145.5
157.1
147.9
159.2
149.9
161.0
151.9
164.2
155.9
Net national product
Net domestic product
Business
Nonfarm
Farm
Residual
155.1
191.8
Rest of the world
142.3
153.4
143.2
145.6
148.1
152.2
154.9
141.6
152.7
142.5
145.0
147.4
151.5
154.3
141.4
141.7
129.2
152.6
152.1
166.9
142.4
143.2
115.5
144.6
144.8
141.2
146.8
146.7
150.8
151.3
150.7
176.1
154.3
154.1
163.2
178.0
Households and institutions- 148.3
141.3
Government
160.4
151.4
149.4
141.4
151.1
145.5
157.1
147.9
159.2
149.9
161.0
151.9
164.2
155.9
National income
Domestic income
Business
Nonfarm
Farm
Rest of the world
Table 22.—Implicit Price Deflators for Gross National Product by
Sector (7.5)
Gross national product. _ 141.61 152.09 142.63 144.56 147.10 150.98 153.52 156.54
141.1
151.5
142.1
144.1
146.6
150.4
153.0
156.0
Business
Nonfarm
Nonfarm less housing. _.
Housing
__
Farm
Residual
Households and institutions-
140.8
141.1
142.6
128.7
146.7
151.2
151.0
152.6
137.6
177.8
141.9
142.5
144.0
129.5
138.4
143.6
144.0
145.4
131.6
149.4
146.0
146.0
147.5
133.9
163.2
150.1
149.8
151.3
136.3
184.7
152.8
152.7
154.3
138.7
176.6
155.7
148.3
160.4
149.4
151.1
157.1
159.2
161.0
164.2
Government
Federal
State and local
141.3
136.4
143.8
151.4
145.5
154.3
141.4
134.6
144.7
145.5
142.5
146.9
147.9
143.3
150.2
149.9
143. 5
152.9
151.9
144.0
155.8
155.9
151.2
158 3
Gross domestic product
186.6
Rest of the world
Less: Capital consumption
allowances with capital consumption adjustment
164.4
153.5
155.6
158.4
162.2
166.9
170.2
Equals: Net national product. _ 140.6
150.8
141.5
143.4
145.9
149.8
152.1
155.1
Equals: National income
O - 7 9 - 3
130.4
134.3
136.4
139.4
141.8
143.3
139.9
130.7
133.8
135.9
138.6
142.0
143.0
Personal consumption expenditures
New autos
Net purchases of used
autos
139.0
128.6
149.8
138.5
138.7
129.1
141.3
132.2
145.3
135.0
147.7
137.5
152.3
140.3
153.9
141.2
Producers' durable equipment
New autos
Net purchases of used
114.9
128.6
127.5
138.5
116.1
129.1
123.0
132.2
124.5
134.9
126.8
137.5
129.5
140.3
128.9
141.1
__
128.9
154.2
137.5
177.7
130.0
157.7
132.2
163.6
133.0
172.4
135.3
175.4
140.5
180.0
141.4
182.5
Government purchases of
goods and services
126.0
139.6
128.7
134.3
135.9
137.8
142.0
143.8
Addenda:
Domestic output of new
128.6
autos '
_ _
Sales of imported new autos >.. 128.6
138.4
138.5
129.2
129.1
132.2
132.3
134.7
135.0
137.3
137.5
140.4
140.4
141.1
141.2
Change in business inventories of new and used
Table 26.—Implicit Price Deflators for Personal Consumption
Expenditures by Major Type of Product (7.11)
Personal consumption
expenditures
130. £
142.3
131.9
153.4
143.2
129.8
145.6
132.9
148.1
135.1
152.2
134.1
135.0
154.9
•p Preliminary
1. Consists of final sales and change in business inventories of new autos produced in the
United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and
government purchases.
N O T E . — Table 21: "Final sales" is classified as durable or nondurable b y 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.
Tables 22 and 24: The industry classification within the business sector is on an establishment basis and is based on the 1972 Standard Industrial Classification.
285-100
140.2
131.2
141.61 152.09 142.63 144.56 147.10 150.98 153.52 156.54
151.5
Less: Indirect business tax
and nontax liability
plus business transfer
payments less subsidies plus current surplus of government
enterprises
Residual
for Auto Output (7.9)
130.9
Auto output
Final sales
Exports
Imports
Table 23.—Implicit Price Deflators for the Relation of Gross
National Product, Net National Product, and National Income
(7.6)
Gross national product
Table 25.—Implicit Price Deflators
Durable goods
Motor vehicles and parts
Furniture and household
equipment
Other
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other .
Services
__ _
Housing
Household operation
Fjlectricity and gas
Other
Transportation
Other
140.7
150.3
141.6
143.2
146.2
149.3
151.6
154.1
129.5
136.6
129.5
130.9
133.1
135.7
137.8
139.5
135.8
145.6
135.7
137.9
141.3
144.0
147.8
149.1
123.8
126.9
128.8
133.0
124.1
127.2
124.7
128.2
125.7
130.1
128.0
132.1
131.5
135.9
158.9
145.0
155.0
145.7
147.0
150.4
154.4
129.5
133. 5
156.2
148.5
122.3
174.4
239.4
139.0
162.9
125.7
182.1
253.6
146.9
149.4
123.0
173.7
243.3
140.0
150.7
123.5
176.8
244.8
142.0
155.6
124.0
178.2
247.2
143.7
162.6
125.9
178.4
252.1
145.5
165.1
126.0
181.7
254.5
148.0
141.0
151.3
142.3
144.4
147.1
149.9
152.6
168.4
126.9
189.8
262.1
150.1
155.3
141.4
156.9
183.9
138.8
154.3
157.3
132.4
149.1
172.9
132.8
145. 3
147.9
134.8
150.1
174.1
134.1
148.2
150.0
137.3
152.7
176.1
135.8
150.7
152.8
140.0
156.0
184.2
137.6
153.3
155.7
142.6
158.9
187.9
140.0
155.4
158.6
145.5
159.9
187.9
141.8
157.9
161.9
131.5
147.2
169.5
132.1
143.3
146.6
SUEVEY OF CUKRENT BUSINESS
18
1978
1977
1977
1978 P
III
January 1979
IV
I
II
III
IV v
1977
1978 P
III
Seasonally adjusted
Percent
Table 27.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price
Deflator, and Price Indexes (8.9)
Gross national product:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted
price
index
__
11.0
4.9
5.9
6.2
11.6
3.9
7.4
7.5
11.1
5.7
5.1
4.6
8.9
3.2
5.5
6.5
7.1
-.1
7.2
7.1
20.6
8.7
11.0
10.8
9.6
2.6
6.9
7.6
14.7
6.1
8.1
8.5
6.3
7.6
4.7
6.8
7.0
11.0
7.6
8.7
10.7
4.7
5.7
5.9
5.9
11.0
3.9
6.9
7.0
7.1
9.0
4.1
4.8
4.6
4.6
14.1
9.0
4.7
5.0
5.0
7.0
—1.4
8.6
7.7
7.9
15.3
6.0
8.7
10.0
10.2
10.7
4.1
6.4
6.7
6.7
14.0
6.8
6.8
7.4
7.5
Durable goods:
Current dollars
1972 dollars
Implicit price deflator__.
Chain price index
Fixed-weighted
price
index
13.9
9.4
4.1
4,3
10.8
5.0
5.5
5.7
4.0
2.0
2.0
1.4
24.1
19.0
4.3
4.4
-7.7
-13.7
7.0
7.2
35.1
25.2
8.0
8.2
3.4
-2.8
6.4
6.3
21.9
16.0
5.1
6.0
4.4
5.9
1.2
4.7
7.5
8.4
6.4
5.9
Nondurable goods:
Current dollars
1972 dollars
Implicit price deflatorsChain price index.
Fixed-weighted
price
index. _
8.2
3.2
4.9
4.9
2.6
6.9
7.2
5.3
2.5
2.7
2.9
15.1
11.2
3.6
3.9
3.7
-5.5
9.8
8.4
15.0
3.6
11.0
12.5
9.9
5.0
4.7
5.8
15.2
7.5
7.1
7.8
5.0
7.3
2.9
3.9
8.6
12.8
5.9
8.0
10.1
3.9
6.0
6.2
15.3
7.0
7.7
7.3
9.8
1.9
7.8
8.4
13.9
5.9
7.6
7.6
10.6
3.1
7.3
7.5
Personal consumption expenditures:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..
Services:
Current dollars
1972 dollars..
Implicit price deflator.__
Chain price
prict index
Fixed-weighted
price
index
11.8
4.4
7.2
7.2
12.2
4.6
7.3
7.4
14.1
6.1
7.5
7.2
7.3
7.4
7.3
6.2
7.3
8.4
7.6
7.6
Gross private domestic investment:
Current dollars
1972 dollars
Implicit price deflator
Chain price index.
Fixed-weighted price index..
22.6
13.2
15.7
7.0
20.5
9.7
5.1
-2.9
12.2
11.3
31.3
15.2
5.5
-5.1
11.7
1.4
Fixed investment:
Current dollars
1972 dollars
Implicit price deflator...
Chain price index
Fixed-weighted
price
index
Nonresidential:
Current dollars
1972 dollars
Implicit price deflator...
Chain price index
Fixed-weighted
price
index
Structures:
Current dollars
1972 dollars.
Implicit price deflator
Chain price index
Fixed-weighted price
index
21.3
12.4
7.9
7.8
16.5
6.5
9.4
9.6
13.9
5.3
8.2
8.2
18.8
7.1
11.0
10.8
7.5
1.2
6.2
6.5
27.8
15.3
10.8
11.9
14.4
2.0
12.2
12.1
13.7
4.1
9.2
9.3
8.2
9.7
7.9
10.9
6.5
12.5
12.3
9.7
15.7
9.1
6.0
6.2
16.6
7.8
8.2
8.3
14.1
5.3
8.3
8.2
14.8
5.3
9.0
8.8
11.1
4.2
6.7
6.7
31.2
21.3
8.2
9.2
14.3
3.5
10.4
10.0
13.8
5.4
8.0
7.8
6.3
8.4
7.9
6.7
9.7
10.0
8.0
11.4
4.4
6.7
6.5
21.3
10.8
9.5
9.6
12.9
7.6
5.0
7.5
13.4
2.0
11.1
9.2
6.3
-.3
6.6
5.9
56. 5
40.3
11.5
12.4
24.4
9.8
13.3
13.7
16.5
4.8
11.2
11.8
6.3
9.4
6.6
8.9
6.2
12.5
13.4
11.5
Producers'
durable
equipment:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price
index
17.9
11.4
5.8
6.0
14.2
6.5
7.3
7.7
14.7
4.3
9.9
8.6
15.6
6.8
8.2
8.6
13.6
6.2
6.9
7.2
19.8
13.6
5.5
7.6
9.1
.7
8.3
8.0
12.3
5.6
6.3
5.6
6.3
7.7
8.6
8.4
7.1
8.0
7.9
5.9
Residential:
Current dollars
1972 dollars
Implicit price deflator...
Chain price index
Fixed-weighted
price
index
34.8
20.5
11.8
11.8
3.6
12.1
12.2
13.5
5.2
7.9
8.0
27.3
11.1
14.6
15.1
.5
-5.2
6.0
6.1
21.0
2.7
17.9
17.6
14.9
-1.6
16.7
16.7
13. 5
1.1
12.3
12.5
11.8
12.1
8.0
14.9
6.2
17.5
16.4
12.4
I
IV
II
III
IV*
Seasonally adjusted
Percent at annual rate
Percent
1978
1977
Percent at annual rate
Table 27.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price
Deflator, and Price Indexes (8.9)—Con.
Exports:
Current dollars
1972 dollars
Implicit price deflator
Chain price index.
Fixed-weighted price index..
7.5
2.4
5.1
5.0
5.2
16.9
9.3
7.0
6.8
6.6
Imports:
Current dollars. _
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index. .
19.8
10.2
8.7
7.5
7.8
16.3
11.2
4.6
6.7
7.0
8.5
1.4
7.1
6.0
5.7
Government purchases of
goods and services:
Current dollars.
1972 dollars..
Implicit price deflator
Chain price index
Fixed-weighted price index..
9.6
2.4
7.0
7.0
7.0
10.2
2.2
7.8
7.5
7.6
Federal:
Current dollars..
1972 dollars
Implicit price deflator...
Chain price index
Fixed-weighted
price
index...
11.7
5.2
6.2
6.3
State and local:
Current dollars
1972 dollars....
Implicit price deflator...
Chain price index..
Fixed-weighted
price
index.
6.4 -18.0
7.6 -17.6
-1.2
-.5
-.5
-.2
A
-.4
24.3
13.7
9.4
8.5
8.1
63.4
43.3
14.0
13.7
12.9
9.5
1.9
7.4
7.4
7.9
28.0
14.2
12.1
11.7
11.4
16.8
22.8
-4.9
2.6
3.1
23.4
15.2
7.1
12.3
12.3
10.3
3.7
6.4
3.7
2.9
20.2
11.2
8.2
7.7
7.9
18.5
7.7
10.0
9.3
9.4
11.5
5.8
5.4
5.0
5.0
13.7
4.2
9.0
9.5
10.2
4.1
-3.5
7.9
7.3
6.6
7.9
-.2
8.2
7.5
7.8
15.0
7.2
7.2
6.9
6.7
15.2
5.1
9.7
10.0
10.4
6.2
-1.1
7.4
7.0
11.3
6.4
4.6
3.6
15.7
2.9
12.4
14.2
- 2 . 0 -10.9
-8.9 -15.3
7.6
5.2
5.0
6.1
20.0
14.3
5.0
4.4
26.8
12.0
13.2
14.3
6.5
6.8
3.6
14.7
4.9
4.5
3.9
14.3
8.4
.8
7.5
7.4
12.6
4.2
8.0
7.8
11.6
5.4
5.9
5.8
12.5
5.1
7.1
6.9
7.8
-.1
8.0
8.0
19.9
9.6
9.5
9.0
12.4
3.4
8.6
8.3
9.3
1.3
8.0
7.8
7.3
8.1
5.9
7.4
7.8
10.0
8.6
7.9
10.8
4.7
5.8
6.2
11.7
3.8
7.6
7.5
10.1
5.0
4.8
4.6
11.0
4.7
6.0
6.6
6.4
-1.6
8.0
7.0
20.0
8.6
10.5
10.8
11.1
3.7
7.1
7.5
15.1
6.6
8.0
8.4
6.3
7.6
4.7
6.9
7.0
11.0
7.6
8.6
Gross domestic product:
Current dollars...
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..
10.9
4.8
5.8
6.1
6.3
11.6
3.9
7.4
7.6
7.7
11.2
5.8
5.1
4.5
4.6
9.5
3.5
5.8
6.7
7.0
6.7
-.4
7.1
7.1
7.0
20.1
8.3
10.9
10.9
11.0
10.2
3.0
7.0
7.5
7.6
14.6
6.1
8.1
8.4
8.7
Business:
Current dollars..
1972 dollarsImplicit price deflator...
Chain price index
Fixed-weighted
price
index
11.3
5.4
5.6
6.0
11.9
4.2
7.4
7.6
11.6
6.0
5.3
4.6
8.6
3.5
5.0
6.1
5.8
-.8
6.7
6.7
22.5
9.5
11.9
11.8
10.7
3.2
7.3
7.9
15.2
7.0
7.7
8.1
6.2
7.8
4.7
6.3
6.7
12.1
8.0
8.3
Nonfarm:
Current dollars..
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price
index
11.4
5.2
5.9
6.2
12.1
4.7
7.0
7.1
11.9
5.1
6.4
6.1
7.0
3.6
4.1
5.1
1.1
5.8
5.4
22.9
11.1
10.6
10.7
10.6
2.3
8.0
8.5
7.0
6.4
7.2
6.2
5.3
5.3
10.8
8.7
10.0
4.1
11.4
4.2
10.9
5.9
12.9
7.8
9.8
1.1
12.5
3.5
10.2
3.6
Addenda:
Final sales:
Current dollars.
1972 dollars..
Implicit price deflator
Chain price index
Fixed-weighted price
dex...
in-
Disposable personal income:
Current dollars
1972 dollars
7.9
12.2
5.1
p Preliminary.
NOTE.—Table 27: The implicit price deflator for GNP is a weighted average of the detailed
price indexes used in the deflation of GNP. In each period, the weights are based on the
composition of constant-dollar output in that period. In other words, the price index for each
item is weighted by the ratio of the quantity of the item valued in 1972 prices to the total
output in 1972 prices. Changes in the implicit price deflator reflect both changes in prices and
changes in the composition of output. The chain price index uses as weights the composition
of output in the prior period, and, therefore, reflects only the change in prices between the
two periods. However, comparisons of percent changes in the chain index also reflect changes
in the composition of output. The fixed-weighted price index uses as weights the composition
of output in 1972. Accordingly, comparisons over any timespan reflect only changes in prices.
SURVEY OF CUBEENT BUSINESS
January 1979
19
Key Source Data and Projections for National Income and Product Estimates: Fourth Quarter 1978
Table 1 shows the key source data and projections used by BEA in preparing the preliminary (15-day) current-dollar GNP estimates. Table
2 shows this information for the price indexes used in the deflation of current-dollar GNP.
Table 1.—Key Source Data and Projections for the Quarterly Current-Dollar Estimates of the Gross National Product
[Billions of dollars (except where noted), seasonally adjusted]
N I P A Estimates (Annual rates)
Key Source Data and Projections
1978
II
III
Source
Agency
1978
II
IV
July
Aug.
Sept.
III
Oct.
Nov.
Dec.
IV
Source
of
Seasonal
Adjustment
1
Gross national product
Personal consumption
penditures.
ex-
1) Motor vehicles and parts
2 087 5 2 136 1 2 210 8
1, 322.9 1 356 9 1 402 2
92.5
89 8
92 5
1) New motor vehicles
Domestic autos:
Retail sales (mil. annual rate)
Average unit value (dollars) ._
10.0
6,624
9.1
6,821
9.9
6,785
8.9
6,718
9.3
6,775
9.2
6,649
9.2 MVMA
9.0
9.4
6,837 * 6, 965 * 6, 817 BEA
Imported autos:
Retail sales (mil. annual rate)
Average unit value (dollars)
Consumer share of new auto purchases (percent).
2.1
5,716
69.5
1.9
5,794
67.0
2.0
5,881
67.0
1.9
5,978
67.6
1.9
5,884
67.2
1.9
6,140
68.5
2.0
6,361
68.1
018.4
9,162
25.3
316.5
9,506
24.4
344.1
9,165
27.2
283.9
9,809
23.3
944.5
9,473
25.0
337.8
9,527
24.5
340.8 * 337.8 *l,016.4 MVMA
9,497 * 9, 652 * 9, 558 BEA
24.7 Polk24.9
24.6
Trucks:
Retail sales (thous.)
Average unit value (dollars)..
Consumer share of new truck purchases (percent).
2) Gasoline and oil..
3) Other goods
4) Housing services
1,
49.1
51 5
575.5
589.8
204.1
210 1
216 6
BEA
BEA
BEA
BEA
BEA
BEA
BEA
BEA
BEA
Census
materials group, motor vehicle
dealers, and gasoline service stations (mil. $).
4) Housing stock (mil)
Rent, residential (1967=100)._
72 5
162.6
72 8
164.4
5) Electricity...
27.2
28.9
28.0
5) Revenue from sales to ultimate
residential customers.
6) Natural gas
14.3
14.4
14.7
6) Sales of gas to ultimate residential
consumers (tril. Btu).
7) Telephone
22 0
22 9
22 8
7) Local tplpnhonp rpvpnnp^ ^tnil §)
8) Privately controlled hospitals and sanitariums.
54.8
57.2
59.5
8) Total expenses of community hos- 14, 685. 6 5, 030.8 5,
pitals (mil. $).
9) Other services. __
283.4
292 3
300 2
Gross private domestic in-
345 4
350 1
359 9
CPI,
CPI,
Fixed investment
Nonresidential..
Structures
1.9 Wards
6,287 BEA
68.4 PolkBEA
BEA
9.6 Trade
*9.5
9.6
94
93
9 4
9 1
9 3
55 6 2) Automotive gasoline sales (bil gal)
9 0
Source
204.9 BLS
201.1
196.0
204.7
208.8
CPI, Gasoline (1967=100)
195.7
198.5
192.4
193.7
3) Sales of all retail stores less building 131, 425 44,195 44, 720 45,391 134, 306 45, 692 *46, 546 *46, 979 *139,217 Census
612.4
CPI,
vestment.
1.8
6,361
68.7
BEA
BEA
325 3
336 5
347 4
220 1
227 5
235 0
Electricity (1967=100)
Utility (piped) gas (1967=100).
72.9
73.1
72.9
*73.2
*73.3
73.5
73.4
165.3
166.6
165.4
167.6
168.7
169.7
168.7
2.2
2.2
6.6
2.2
2.1
BEA
BEA
BLS
BEA
2.1
6.4 E E I
BEA
6.2
2.2
205.0
209.5
209.2
208.7
207.8
203.6
205.3
205.6 B L S
BEA
395.1
399.7
398.1 1,193.6
393.0
382.9
380.6 1,184.8 A G A
BEA
263.7
267.5
269.6
279.6
273.1
275.8
1,169. 0
209.1
276.2 B L S
BEA
4, 771. 6 1 619 6 1 670 7 1 666 3 4 956 6 1 646 4 1 643 9 1 645 0 4 935 3 F C C
BEA
091.0 5,166. 6 15, 288.4 5,214.7 5, 292. 7 5,398.8 15, 906.4 AHA
BEA
259.5
266.9
9)
76 6
80 9
84 0
1) Buildings, utilities
and farm.
63.5
67.0
69.8
1) Value of new nonresidential construction put in place (annual
rate).
63.0
65.9
65.5
67.0
66.2
68.3
*69.7
69.5
69.1
Census
Census
2) Oil and gas well
drilling and exploration.
11.6
12.2
12.5
2) Oil and gas drilling footage (mil. ft).
59.6
20.5
19.5
20.4
60.3
20.3
18.5
20.5
59.3
API
BEA
Costs per foot (dollars)
3) Other .
Producers' durable
equipment.
1) Motor vehicles
1 6
1 7
143.5
146 6
151 0
44.4
43.7
45.5
1.5
Autos
3.2
4.0
2.7
BEA
1) See personal consumption expenditures for retail sales and average
prices of trucks and autos:
Business share of new motor vehicle
purchases (percent):
Trucks
2) Aircraft
54. 60 BEA
52.00
49.50
3)
2) Manufacturers' shipments of complete civilian aircraft (mil. $).
68.8
70.2
67.7
70.8
69.5
70.3
69.8
70.0
70.0
PolkBEA
BEA
29.4
31.9
31.9
31.2
31.7
30.3
30.8
30.2
30.4
PolkBEA
BEA
1,301.3
521.7
763.1
522.1
*786.0
818.1
2,126.1 Census
BEA
918.9 2, 203.8
SURVEY OF CURRENT BUSINESS
20
January 1979
Table 1.—Key Source Data and Projections for the Quarterly Current-Dollar Estimates of the Gross National Product—Continued
[Billions of dollars (except where noted), seasonally adjusted]
Key Source Data and Projections
NIP A Estimates (Annual rates)
II
III
Source
Agency
1978
1978
II
IV
July
Aug.
Sept.
III
Oct.
Nov.
Dec.
IV
Source
of
Seasonal
Adjustment
Nonresidential—Producers' durable equipment—Continued
3) Other
95
Residential
105
Change in business inventories.
Nonfarm
1) Manufacturing
and
trade 3.
98.
109
102.
3) Manufacturer's shipments of nondefense capital foods (mil. $).
Capital goods purchased by business (annual rate).
49,687
16,819
17, 598
18,357
115.6
116.9
122.5
122.7
New equipment expenditures (annual rate).
123 8
Value of new residential construction
put in place (annual rate).
93.9
95.9
95.0
94.2
95.0
93.6
*95.8
96.0
New single family housing units
started (thous. annual rate).
1,470
1,453
1,440
1,463
1,452
1,459
*1,498
1,450
1,469
Manufacturers' shipments of mobile
homes (thous. annual rate).
258
232
283
272
263
300
280
276
285
1 299
52, 744 17, 982 •18,206
120.7
123.5
*125.5
18, 279 54,467 Census
Census
125.0 Census-
Census
128 7 BEA
BEA
95.1 Census
Census
Census
Census
126.0
BEA
1
124.7
112 5
20
13 6
12 4
22 1
14 6
13.1
19.1
12.9
10.9 1) Change in book value of inven-
NCSBCS BEA
tories:
Manufacturing (mil. $)..
3 761 Census
Census
924
2,928 Census
Census
625
2 891 BEA
BEA
215.2
*216.4
*215.3 BLS
BLS
214.5
216.0
*217 4
216 0 BLS
BLS
151.4
152.8
153.6
*154.8
*154.8 BLS-
BEA
151.0
151.0
151.8
152.7
*153. 6
*153. 6 BLS-
BEA
12.5
13.4
37.7
13.0
13.3
13.5
39.8 Census
Census
14.8
14.1
15.1
44.0
15.1
15.2
15.5
45.8 Census
Census
36 6
11.3
14.2
13.6
39.1
12.7
13.1
13.5
39.2 DTBEA
BEA
-
_ -
5,697
1,610
1,715
1,181
4,506
672
*1,790
Merchant wholesalers (mil. $)
.
2,938
-156
589
767
1,200
1,326
*678
2,446
927
1,210
-16
2 121
637
Farm products and processed foods
and feeds.
207.6
207.3
205.3
208.6
207.1
214.4
Industrial commodities
207.1
209 9
211.3
212.3
211.1
Food and farm products
151.7
150.9
150.4
151.4
Other.
148.6
149.5
150.3
U.S. exports of merchandise
35 5
11 8
U.S. imports of merchandise
42.2
Retail trade (mil. $)
*1 629
P P I (1967=100):
Inventory book value price indexes
(1972 = 100):
2) Other
3.0
Farm. _
1.7
2.2
BEA
BEA
2)
-2.0
—0 9
-0.7
-5.5
—10 7
—6.9
205 4
210 1
223 5
140.3
147 7
157.6
65.1
62.4
65.9
_
210.9
220.8
230.4
Merchandise
Other
171.5
179.9
187.6
39 4
40 9
42.8
424.7
439.8
455.6
147 2
154 0
163.4 Federal purchases (cash basis not sea-
277.6
285 8
292.2
154.1
157.0
159.4 1) State and local government employ-
12,802
12, 784
12, 760
12, 745
2) Structures
35.8
38 5
40.0 2) New construction put in place
35 6
38.0
38.6
38.7
38.5
40.4
*40.0
39.7
40.0 Census
BEA
3) Medical vendor payments.
17.3
17.7
18.2 3) Medical vendor payments under
17.3
17.6
*17.7
17.8
17.7
18.0
18.2
18.4
18.2 HEW-
BEA
4) Other
70.5
72.6
74.6 4)
Net exports of goods and
services.
Exports
Merchandise
Other.. .
Imports
Government purchases of
goods and services.
Federal
State and local
1) Compensation of employees.
sonally adjusted).
ment (thous.).
(annual rate).
federally assisted and other State
programs (annual rate).
12, 763 12, 742 *12, 743 *12, 753 *12, 746 BLS
1. Planned.
2. Excludes nonmerchant wholesalers.
NOTE.—Projections of source data prepared by BEA are in italics. Estimates issued by a source agency that are subject
to revision are identified by an asterisk. The units in which the source data are shown generally correspond to those used
by the source agency.
BEA
BEA
January 1979
SURVEY OF CURRENT BUSINESS
21
Table 2.—Key Source Data and Projections for the Deflation of Current-Dollar Gross National Product
GNP Implicit Price Deflators
Key
Source Data and Projections
Seasonally adjusted index number 3, 1972=100
Seasonally adjusted index numbers,
1967—100. except where noted
Source
Agency
1978
1978
III
IV
150.98
153.52
156.54
149.3
151.6
154.1
144.0
147.8
149.1 1) CPI, New cars
II
Gross national product
Personal consumption expenditures. ._ - _
1) Motor vehicles and parts.
2) Furniture and household equipment
_ _ 128.0
3) Other durable goods
132.1
4) Food
162.6
II
129. 5
CPI, Used cars
2) CPI, Furniture and bedding
131.5
CPI, Household appliances
133.5
135.9 3)
165.1
168.4 4) CPI, Food at home
5) Clothing and shoes.. __
125.9
126.0
6) Gasoline and oil
178.4
181.7
CPI, Food away from home...
126.9 5) CPI, Women's and girls' apparel- .
CPI, Men's and boys' apparel. _ .
CPI, Footwear.. .
_
189.8 6) CPI, Gasoline
CPI, Motor oil, coolant, and other
products.
July
Aug.
Sept.
III
Oct.
Nov.
Dec.
Source
of Seasonal
Adjustment
IV
BEA
BEA
BEA
BEA
155.8
188.0
156.6
188.4
155.9
188.1
154.9
189.9
157.1
193.0
168.4
196.1
156.8 BLS
193.0 BLS
164.9
146.8
155.3
187.8
165.2
148.0
165.9
149.4
169.1
148.7
166.7
148.7
170.7
150.1
171.6
150.2
172.8
160.8
171.7 BLS
150.4 BLS
210.7
216.0
213.4
219.9
213.4
221.7
214.3
223.2
213.7
221.6
215.8
224.6
216.8
225.7
218.7
228.0
217.1 BLS
226.1 BLS
151.1
156.8
162.3
150.6
158.0
163.2
150.4
157.5
163.8
150.6
158.2
165.5
150.5
157.9
164.2
151.0
158.1
167.3
150.0
158.4
168.3
160.9
169.0
169.3
160.6 BLS
158.5 BLS
168.3 BLS
BEA
BEA
BEA
BEA
BEA
192 4
174.5
193 7
175.1
195 7
176.5
198.5
177.0
196 0
176.2
201.1
178.0
204.7
178.6
208.8
179.7
204.9 BLS
178.8 BLS
BEA
BEA
152.8
184.0
7) Fuel oil and coal
252.1
254.5
262.1 7) CPI, Fuel oil
294.7
296.0
296.6
299.6
297.4
302.2
306.9
310.0
306.4 BLS
BEA
8) Other nondurable goods.
145.5
148.0
150.1 8) CPI, Tobacco products. ..
174.3
142.5
174.4
180.1
143.9
176.5
180.8
144.6
177.9
181.5
145.2
179.9
180.8
144.6
178.1
182.1
146.0
180.3
181.3
147.3
181.1
181.9
148.2
182.2
181.8 BLS
147.2 BLS
181.2 BLS
BEA
9) Housing services
_
10) Household operation. _
140.0
142.6
162.6
164.4
165.3
166.6
165.4
167.6
168.7
169.7
168.7 BLS
BEA
156.0
158.9
205.0
259 5
132.7
209.5
263.7
132.9
209.2
267.5
133.2
208.7
269.6
133.3
209.1
266.9
133.1
207.8
279.6
133.0
203.6
273.1
133.7
205.3
275.8
134.4
205.6 BLS
276.2 BLS
133.7 BLS
BEA
217.6
221.3
222.7
224.6
222.9
226.9
228.7
230.3
228.6 BLS
BEA
BEA
11) Transportation services.
153.3
155.4
12) Other services.
155.7
158. 6
CPI, Medical care commodities
CPI, Toilet goods and personal care
appliances.
145.5 9) CPI, Rent, residential
._.
159.9 10) CPI, Electricity
CPI, Utility (piped) gas
CPI, Telephone services
157.9 11) CPI, Automobile maintenance
and repair.
161.9
BEA
BEA
BEA
BEA
12)
Gross private domestic investment.
Fixed investment..
162.3
167.1
170.8
N o nr esidential
156.7
160.6
163.7
1) Structures
171.8
177.3
180.0
1) Federal Highway Administration
cost index for highway structures (1972=100).
Turner Construction Company con-
2) Producers' durable
equipment.
Residential
149.6
152.7
struction cost index (1972=100).
155.0 2) PPI, Finished goods, capital equipment.
175 7
182.6
187.9
1) Structures
2) Producers' durable
equipment.
Change in business inventories.
176.7
183.7
131.8
133.3
Net exports of goods and
services.
Exports
Merchandise
Other.
Imports
Merchandise
Other
Government purchases of
goods and services.
159.0
172.4
184.5 FHA-
141
144
146
BEA
Turner-
BEA
BEA
*204.9 BLS
BLS
197.3
199.9
200.6
201.8
200.5
203.0
205.0
•206.6
189.1 1) Bureau of the Census index of new
one-family houses (1972=100).
178.4
184.5
186.1
187.7
186.1
191.9
188.8
193.2
Nonfarm inventory change price indexes:
Food and farm products
Other
.
197.8
197.8
195.4
198.7
197.3
202.7
203.1
*205.5
•203.8 BLS-
BEA
210.7
*212.0
•210.5 BLS-
BEA
191.3 Census-
BEA
BEA
135.1 2)
189 4
192 8
188.4
191.9
197.8
191.7
195.1
200.0
217.2
221.5
226.8
227.9
232.4
238.2
180 4
183 4
187 4
156.2
158.9
162.7
BEA
201.2
203.7
205.3
206.4
205.1
208.7
Unit value index, U.S. exports of merchandise.
226.6
232.9
236.6
239.0
236.2
239.0
248.6
247.0
245.0 Census
BEA
Unit value index, U.S. imports of merchandise.
289.4
294.5
295.0
295.5
295.0
298.4
307.9
305.0
304.0 Census
BEA
BEA
198.4
Abbreviations for Source Agencies
A GA—American Gas Association
AHA—American Hospital Association
API—American Petroleum Institute
BEA—Bureau of Economic Analysis
BLS—Bureau of Labor Statistics
Census—Bureau of the Census
CPI—Consumer Price Index—All urban consumers
CSC—Civil Service Commission
DOD—Department of Defense
DT—Department of Treasury
EEI—Edison Electric Institute
FCC—Federal Communications Commission
FHA—Federal Highway Administration
HEW—Department of Health, Education, and Welfare
MVMA—Motor Vehicle Manufacturers Association
NCSBCS—National Conference of States on Building
Codes and Standards
Polk—R. L. Polk & Company
PPI—Producer Price Index
Turner—Turner Construction Company
Wards—Wards Automotive Reports
By JOHN T. WOODWARD
Plant and Equipment Expenditures: Year 1979
B,
BUSINESS plans new plant and
equipment expenditures in 1979 totaling
$170.2 billion, 11.2 percent more than
in 1978, according to the survey conducted by BEA in late November and
December (table 1). This is the first
BEA survey that covers the full year
1979. Spending in 1978, based on the
survey conducted a month earlier, is
estimated at $153.1 billion, 12.7 percent
more than in 1977.1
These data are not adjusted for
price change. Survey respondents reported that prices of capital goods
purchased by them increased 8 percent
in 1978 (table 2).2 The reported increase
is the same as that in the implicit price
deflator for the nonresidential fixed
investment component of GNP. Survey
respondents expect another 8-percent
price increase in 1979. After adjustment
for the reported changes in prices,
spending increased 4}£ percent in 1978
and plans imply an increase of about
3 percent in 1979.
Chart 9 shows the extent to which
spending plans reported in the annual
November-December surveys ha^e been
indicative of actual spending. For the
9 years that these surveys have been
taken, planned spending understated
actual in 5 years and overstated in 4.
The largest understatements occurred
in 1976, 1977, and 1978: 0.7, 0.6, and
1.4 percent, respectively. The largest
overstatements occurred in the reces-
Table 1.—Expenditures for New Plant and Equipment by U.S. Business
1977
1947-69: Part I " in the January 1970 SURVEY OF CURRENT
BUSINESS and the March 1970, 1972, 1974, 1976, and 1978
SURVEY issues.
The estimate for 1978 is based on actual expenditures in the
first three quarters and plans for the fourth quarter. The
plans were adjusted for systematic biases by procedures
described on pages 36-39 of the February 1970 SURVEY.
The 1979 plans also were adjusted for systematic biases.
Before adjustment, plans were $77.43 billion for manufacturing and $93.38 billion for nonmanufacturing; the net effect of
the adjustments was to lower manufacturing $0.44 billion
and to lower nonmanufacturing $0.18 billion. The bias adjustments, which are computed separately for each major
industry, were applied only when plans deviated from actual
spending in the same direction for 5 of the last 7 years. In
these cases, the adjustment used was the median deviation
between actual and planned spending in the last 5 years.
2. Respondents were asked:
"What are your best estimates of average price changes
from 1977 to 1978 and expected price changes from 1978 to
1979:
"a. Prices paid by your company for new construction,
machinery, and equipment.
"b. Prices of goods and/or services sold by your company."
Similar information was obtained in the corresponding
annual surveys conducted since 1970. The companies' reresponses on capital goods and sales price changes were
weighted by their reported capital expenditures and sales,
respectively.
22
1978 P
1979 2
AH industries
Durable goods
Primary metals 3
Blast furnaces, steelworks
Nonferrous metals.._
Electrical machinery
Machinery, except electrical
Transportation equipment 3
Motor vehicles
Aircraft 4 .
Stone, clay, and glass.
Other durables fi
Nondurable goods
Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
Other nondurables 6 .
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication, commercial, and other
1977-78
1978-79
Percent change
Billions of dollars
Manufacturing
1. For estimates of prior years, see pages 25-40 of "Revised
Estimates of New Plant and Equipment Expenditures,
sion years 1970 and 1975—3.2 and 3.8
percent, respectively. The average absolute deviation between planned and
actual spending was 1.3 percent.
Manufacturing industries plan spending of $77 billion, 14 percent more than
in 1978; the 1978 increase was 12%
percent. The largest increases are
planned by aircraft, 38 percent; paper,
23 percent; and "other durables/' 22
percent. Increases between 15 and 20
percent are planned by electrical machinery, nonelectrical machinery, stoneclay-glass, and "other nondurables."
135.80
153.09
170.20
12.7
11.2
60.16
67.65
76.99
12.4
13.8
27.77
31.75
36.89
14.3
16.2
5.68
2.67
2.24
3.28
5.76
5.32
4.06
1.02
1.99
5.73
5.97
2.62
2.39
3.94
6.42
6.27
4.66
1.40
2.48
6.67
6.38
2.91
2.42
4.67
7.65
7.20
5.05
1.92
2.87
8.12
5.2
-1.9
6.8
19.9
11.3
17.8
14.7
37.1
25.1
16.4
6.9
10.9
1.6
18.5
19.3
14.8
8.4
37.9
15.4
21.8
32.39
35.90
40.11
10.8
11.7
4.18
.92
3.36
6.83
13.87
1.45
1.78
4.82
1.02
3.37
7.20
15.56
1.75
2.17
4.95
1.10
4.14
8.11
17.50
1.72
2.59
15.3
11.5
.2
5.5
12.2
20.5
21.9
2.7
7.1
22.7
12.5
12.5
-1.6
19.6
75.64
85.44
93.20
13.0
9.1
4.50
2.80
1.62
2.51
25.80
21.59
4.21
38.42
4.84
3.22
2.36
2.39
29.16
24.59
4.58
43.46
5.31
3.83
2.66
2.67
32.56
27.31
5.25
46.17
7.8
15.1
46.2
-4.8
13.0
13.9
8.6
13.1
9.7
18.8
12.8
11.6
11.6
11.1
14.8
6.2
p Preliminary.
1. Excludes agricultural business; real estate; medical, legal, educational, and cultural services; and nonprofit organizations.
2. Estimates are based on planned capital expenditures reported by business in late November and December 1978. The
estimates of expected expenditures for 1979 have been adjusted for biases.
3. Includes industries not shown separately.
4. Includes guided missiles and space vehicles.
5. Consists of fabricated metal, lumber, furniture, instruments, and miscellaneous.
6. Consists of apparel, tobacco, leather, and printing-publishing.
7. Includes trade, service, construction, finance, and insurance.
January 1979
SUEVEY OF CUREENT BUSINESS
Table 2.—Change in Prices of Capital Goods
Purchased
nonferrous metals, and stone-clay-glass
show less strength.
Nonmanufacturing industries plan
spending of $93.2 billion, 9 percent
more than in 1978; last year, spending
increased 13 percent. The largest increases are planned by railroads, 19
percent, and gas utilities, 15 percent.
Airlines plan a 13-percent increase, and
the "other transportation" group, electric utilities, and mining firms plan
increases between 9% and 11% percent.
The "communications and commercial"
group plans a 6-percent increase. The
year-to-year changes in investment
programs of gas utilities and "other
transportation" show more strength
this year than last; changes in the
programs of airlines and "communications and commercial" show less
strength.
[Percent change from preceding year]
Reported in
Nov.-Dec.
1977 survey
Reported in
Nov.-Dec.
1978 survey
Actual Expected Actual Expected
1977
1979
1978
1978
All industries
Manufacturing
Durable goods
Nondurable g o o d s . . .
Non manufacturing
Mining
Transportation
Public utilities
Communication,
commercial, and
other
7.8
7.9
8.0
8.1
7.8
7.9
8.4
8.3
7.8
7.8
7.6
8.2
8.5
8.4
8.5
8.1
7.8
7.9
7.7
7.9
10.3
8.3
10.0
8.2
10.6
8.2
10.7
8.4
7.5
7.7
7.8
7.5
7.8
7.1
Other manufacturing industries except
rubber plan smaller increases; rubber
plans a lK-percent decline. The yearto-year changes in investment programs
of iron and steel, nonelectrical machinery, paper, and chemicals show
more strength this year than last;
changes in the programs of rubber,
food-beverage, textiles, motor vehicles,
23
Table 4.—Change in Prices of Products and
Services Sold by Manufacturing and
Public Utility Companies
[Percent change from preceding year]
Reported in
Nov.-Dec.
1979 survey
Reported in
Nov.-Dec.
1977 survey
Actual
1977
Manufacturing
D urable goods
Nondurable g o o d s . . .
Public utilities
Actual
1978
Expected
1978
Expected
1979
5.9
6.0
6.4
6.2
6.1
5.6
6.2
5.8
6.7
6.1
6.3
6.0
12.0
7.9
9.1
7.8
increase of 9 percent. Trade firms
expect an increase of 10% percent; last
year, they had a 13K-percent increase,
compared with an expected 9% percent.
Public utilities expect an 11-percent
increase in 1979; they had an 11-percent
increase in 1978, compared with an
expected 10% percent.
Changes in the prices of goods and
Sales and sales prices
services sold by manufacturers and
Manufacturers expect their sales to public utilities are shown in table 4.
increase 10 percent in 1979 (table 3). Manufacturers expect their prices to
The actual increase in 1978 was 12% increase about the same as last year;
percent, compared with an expected utilities expect a smaller increase.
Table 3.—Change in Business Sales 1
CHART 9
[Percent change from preceding year]
1978
Expected
as reported in:
Dec.
1977
Manufacturing
Durable goods 1
Primary metals...
Electrical machinery.
Machinery, except electrical. _.
Transportation
equipment
Stone, clay, and
glass
Nondurable goods 1.
Food including
beverage
Textiles
_.
Paper
Chemicals
Petroleum
Rubber
Trade
Wholesale
Retail. .
Public utilities
Planned and Actual Capital Spending
1979
Actual
Feb.
1978
Expected
as reported in
Dec. 1978
Percent change from preceding year
16
14
10.2
9.2
12.5
9.9
10.7
9.5
14.5
10.6
12.2
11.0
15.8
8.9
10.5
10.3
15.0
10.9
10.1
9.9
15.9
12.6
10.9
6.8
12.5
10.3
10.5
7.1
24.6
7.5
9.7
8.1
8.2
9.5
11.8
10.6
11.1
8.9
6.9
6.4
9.7
10.8
11.6
10.7
10.2
11.6
8.6
10.5
10.8
7.5
8.6
9.2
9.1
8.7
7.5
11.6
7.6
7.4
10.4
10.2
10.7
9.4
9.8
9.1
13.7
17.7
10.1
10.6
9.6
11.5
11.0
10.6
10.8
11.0
Actual
Planned
\
12
—fel
~~
Hi
••
••
H i liliHH
f«ll
H
1977
1978
f~~i
10
—
11
P
o
6 -
4 -
1
2 -
1
Includes industries not shown separately.
Sources: Manufacturing data from Bureau of the Census,
Current Industrial Reports, Series M - 3 , for first 11 months
of 1978, and B E A estimates for December 1978. Trade data
are from Bureau of the Census, Current Business Reports,
Monthly Wholesale Trade and Monthly Retail Trade, and
B E A estimates for December 1978. Public utility figures are
estimated, by B E A on basis of data collected in the annual
business investment surveys.
m
0
1970
1971
1972
1973
1974
Note.—Planned spending estimates are from November-December surveys.
Estimate of 1978 actual spending is preliminary.
U.S. Department of Commerce, Bureau of Economic Analysis
1975
1976
1979
SURVEY OF CURRENT BUSINESS
24
January 1979
Total Personal Income, States and Regions
[Millions of dollars, seasonally adjusted at annual rates]
1977
State and region
1978
II
III
IV
II
III
United States.
1,462,670
1,498,650
1,532,619
1,579,621
1,616,817
1,670,128
1,718,491
New England.
85,249
86,708
88,804
90,966
93,313
97,114
99,797
24,261
6,057
40,738
5,309
6,161
2,723
24.686
6,158
41,441
5,433
6,208
2,782
25,288
6,272
42,414
5,602
2,832
25,984
6,394
43,263
5,843
6,562
2,919
26.491
6,585
44.492
6,063
6,687
2,995
27,404
6,764
46,626
6,259
6,974
3,086
28,271
6,900
47,867
6,383
7,205
3,172
308,839
314,816
321,587
328,091
334,202
344,464
352,839
4,268
5,993
30,258
56,843
131,709
79,688
4,461
6,164
31,181
58,058
133,215
81,736
4,547
6,165
31,369
59,249
136, 496
83,762
4,631
6,519
32,543
60,205
138,859
85,334
4,688
6,614
32,979
61,537
142,122
86,262
4,902
6,697
34,035
63.587
145,309
89,935
4,974
6,802
34,873
65,307
148,692
92,192
289,941
298,694
304,886
313,065
320,357
330,915
338,478
85,276
35,358
72,175
30,362
86,289
36,707
68,972
75,028
31,698
86,920
37,365
70,789
77,368
32, 443
90,900
38,130
71,687
78,666
33,683
92,740
39,089
73,893
79,767
34,867
95,806
40,472
75,760
82,937
35,939
98,292
41,504
76,882
84,660
37,140
109,828
113,476
115,938
122,022
123,817
127,390
130,259
19,001
15,877
26,915
30,350
10,068
3,877
3,741
19.687
16,235
27,969
31,432
10,299
3,920
19,846
16,554
28,422
32,490
10,466
3,975
4,185
20,675
17,711
30,041
33,503
11,131
4,405
4,557
21,591
17,342
33,835
11,167
4,274
4,672
21,982
17,916
31, 994
34,945
11,444
4,333
4,775
22,515
18,433
32,677
35,662
11,726
4,389
4,857
283,962
291,554
298,828
307,518
314,668
326,426
335,322
19,886
11,254
54,442
29,240
19,705
22,263
11,494
31,768
15,632
23,920
33,747
10,612
20, 480
11,659
55,403
29,962
20,398
22,902
11,819
32,480
16,012
24,575
34,773
11,092
21,028
12,117
57,303
30,670
20,742
23,361
12,115
33,053
16,311
25,077
35, 754
11,296
21,584
12,483
31,561
21,400
24,222
12,647
33,860
16,788
25,905
36,710
11,518
22,194
12,729
60,907
32,725
21,354
24,904
12,860
34,986
17,295
26,494
37,324
10,897
22,993
13,282
62,566
33,412
22,930
25.588
13,218
35,897
17,722
27,336
38, 892
12.589
23,680
13,715
64,796
34,078
23,606
26,116
13,653
37,125
18,084
27,911
39,698
12,859
Connecticut
Maine
Massachusetts. __
New Hampshire.
Rhode Island
Vermont
Mideast.
Delaware
District of Columbia.
Maryland
New Jersey
. . .
New York
Pennsylvania
Great Lakes
Illinois
Indiana
Michigan..
Ohio
Wisconsin.
Plains
Iowa
Kansas
Minnesota
Missouri
Nebraska
North DakotaSouth Dakota.
Southeast.
Alabama
Arkansas
.
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina.
South Carolina..
Tennessee
Virginia
West Virginia...
121,478
124,858
128,424
133,368
136,690
141,383
146,236
Arizona
New Mexico.
Oklahoma
Texas
14,352
6,710
17,015
83,401
14,760
6,864
17,511
85,724
15,051
7, 017
18,011
88,345
15,607
7,291
18,822
91,648
16,261
7,521
19, 024
93,884
16,830
7,794
19,830
96,929
17,481
8,071
20,499
100,186
Rocky Mountain.
37,545
38,525
39,238
41,183
42,287
43,468
44,765
17,941
4,990
4,495
7,225
2,894
18, 419
5,057
4,594
7,421
3,034
18,894
5,077
4,658
7,508
3,101
19,753
5,385
4,898
7,885
3,263
20,342
5,508
4,932
8,136
3,367
20,810
5,640
5,035
8,438
3,545
21,412
5,813
5,162
8,729
3,650
214,725
218,880
224,018
232,211
239,886
247,287
258,880
167,130
4,832
16,072
26, 691
170,587
4,947
16,368
26,977
174,566
5,123
16,689
27,640
180, 575
5,335
17,474
28,827
185,829
5,602
18,291
30,164
191,789
5,761
18,716
31,020
201,860
5,985
19,088
31,947
4,404
4,464
6,675
4,135
6,762
4,241
6,956
4,419
7,179
4,325
7,356
4,390
7,525
93,313
289,920
320,357
123,817
238, 415
82,902
150,540
71,671
245, 881
97,114
330,915
127,390
246,713
86,478
155,629
73,853
253,207
99,797
306,191
338,478
130,259
253,290
88, 850
160,515
76,302
264,809
Southwest..
Colorado. Idaho
Montana..
Utah
Wyoming .
Far West
California-..
Nevada
Oregon
Washington..
Alaska..
Hawaii.
Census regions
New England
Middle Atlantic
East North Central.
West North Central
South Atlantic
East South Central.
West South Central.
Mountain
Pacific
85,249
268,320
289, 941
109,828
215,959
75,005
133, 932
63,440
220,996
86, 708
273,010
298, 694
113,476
221,527
77,272
137,796
65,096
225,071
88,804
279,507
304,886
115,938
226,468
78,962
141,834
66,429
229,791
90,966
284,398
313,065
122,022
232,970
81,536
147,176
69,416
238,073
NOTE.—The quarterly estimates of state personal income were prepared by Robert L. Brown and Robert M. Lipovsky
with the aid of Q. Francis Dallavalle and Thelma E.. Hardinp,
Har" under
* the
'" supervision
" " of"Kenneth
"
" P. Berkman.
*
By EDWARD I. STEINBERG
Labor Mobility in 1960-65 and 1970-75
IHIS article analyzes several types
of labor mobility in the periods 1960-65
and 1970-75: movement from employment to nonemployment, from one employer to another, and from one industry to another. The major findings are:
• Movement from employment to
nonemployment was widespread in
both periods.
• Except among young women with
relatively high earnings, movement from employment to nonemployment was more widespread in
1970-75 than in 1960-65.
• Older workers were less likely than
young workers to change employers and industries.
• Young workers who changed employers were more successful in
increasing their earnings than were
those who stayed with the same
employer; the reverse was true of
older workers.
The data
The data were tabulated by BEA
from the Social Security Administration's Continuous Work History Sample (CWHS), a file that contains
longitudinal information on a random
1-percent selection of all persons having
social security numbers, and that follows these same persons throughout
their working lives.1 CWHS data refer
to employees covered by social security
1. For a more detailed description of the CWHS, see U.S.
Department of Commerce, Bureau of Economic Analysis,
Regional Work Force Characteristics and Migration Data: A
Handbook on the Social Security Continuous Work History
taxation, or to about 90 percent of the
employed persons in the United States.
The major excluded groups are employees of some State and local governments and some nonprofit organizations, most civilian employees of the
Federal Government, and railroad
employees.
The data used in this analysis refer to
nonfarm wage-and-salary employment
in the first quarter of the year; the
analysis excludes farm workers and the
self-employed, whose earnings were reported to the Social Security Administration on an annual basis during the
periods covered by the analysis.2 In a
typical year about 80 percent of the
workers in the CWHS have reported
earnings in the first quarter of the year.
Findings
Table 1 shows, for selected age-sex
categories, the proportions of workers
employed in each base year (i.e., 1960
and 1970) who were also employed in
the following 1, 2, 3, 4, and 5 consecutive years. The data show much movement out of employment from 1 year to
the next; even for those age-sex categories with the strongest employment
attachment (35- and 45-year-old men),
only 70-76 percent of those employed in
the base year were employed in each of
the following 5 years. Employment attachment was weakest for 20-year-old
women; only 26.9 percent of those
employed in 1960 and 31.1 percent of
those employed in 1970 were employed
in each of the following 5 years. As expected, employment attachment was
2. Beginning with 1978, the earnings of all workers except
Sample and its Application (Washington: U.S. Government covered State and local government employees are reported
Printing Office, 1976).
on an annual basis.
stronger for men than for women of the
same age. The difference between the
sexes was smallest in the oldest (45- and
55-year-old) categories.
For every age-sex category except
20- and 25-year-old women, the figures
in table 1 are lower for 1971-75 than
for 1961-65. That is, larger proportions
of workers employed in 1970 than in
1960 were either unemployed or out of
the labor force (or both) in at least 1 of
the following 5 years.3 The importance
of movement into unemployment in
explaining the weaker employment attachment in 1970-75 than in 1960-65
is suggested by the fact that the labor
market was tighter in the first quarter
of 1970 (when the unemployment rate
for men aged 20 and over was 2.8
percent) than in the first quarter of
1960 (when that rate was 4.4 percent).
Because of the tighter labor market,
relatively more marginal workers, vulnerable to unemployment, were employed in the first quarter of 1970 than
in the first quarter of 1960. Compared
to the base period, the labor market
was looser in the first quarters of
1971-75 (when the unemployment rate
for men aged 20 and over averaged
4.3 percent) than in the first quarters
of 1961-65 (when it averaged 4.6 percent). The combination of a less select
sample of workers and relatively looser
labor markets in the years following
the base year helped produce weaker
3. Some workers with no reported employment in a particular year may have been working in farm- or self-employment
or in employment not covered by social security, rather than
having been unemployed or out of the labor force. However,
it is not likely that this factor explains very much of the observed decline in employment attachment from 1960-65 to
1970-75, because the proportion of paid employment in these
three categories did not increase from 1960-65 to 1970-75.
25
SURVEY OF CURRENT BUSINESS
26
Table 1.—Proportion of Workers With Consecutive Employment
[Percent employed in the base year who were employed the following 1-5 consecutive years]
Sample size
1 year
2 years
3 years
4 years
5 years
Men:
20 years old in I960..
20 years old in 1970..
8,163
12,576
25 years old in I960..
25 years old in 1970..
77.5
71.9
71.0
62.4
66.5
54.6
63.3
47.3
9,054
11,740
85.3
82.5
88.1
87.3
82.4
79.5
78.1
73.1
74.3
67.3
71.6
61.3
35 years old in I960..
35 years old in 1970..
8,926
9,165
91.5
91.6
86.6
86.3
82.5
80.3
79.3
75.6
76.5
70.3
45 years old in I960..
45 years old in 1970..
7,759
8,539
91.8
92.1
86.4
86.6
82.4
81.0
78.9
75.7
76.1
71.0
55 years old in I960..
55 years old in 1970-
5,528
7,027
90.8
91.0
84.6
84.3
79.5
77.2
74.9
70.5
70.4
63.8
20 years old in I960..
20 years old in 1970..
5,353
9,386
71.5
71.9
54.4
57.5
42.1
46.2
33.3
37.5
26.9
31.1
25 years old in I960..
25 years old in 1970..
44.2
50.2
37.5
41.6
33.0
35.8
72.3
72.2
66.1
64.5
60.8
57.8 .
56.9
52.4
45 years old in I960..
45 years old in 1970..
4,380
5,795
70.8
74.7
82.3
82.9
87.5
87.1
54.5
60.3
35 years old in I960..
35 years old in 1970..
3,839
6,770
3,979
4,529
79.8
79.3
73.8
71.8
68.6
65.0
64.6
59.3
55 years old in I960..
55 years old in 1970..
3,212
4,828
88.9
88.4
81.5
80.5
75.8
72.5
70.4
64.1
65.4
56.6
Women:
Source: Continuous Work History Sample, Social Security Administration.
employment attachment in 1970-75
than in 1960-65.
The role of labor market declines in
explaining the weaker employment attachment in 1970-75 than in 1960-65 is
evidenced by the fact that the difference
in employment attachment between the
periods was largest for 20-year-old men,
and it is young men who are most
vulnerable to labor market declines.
(See "Earnings Changes in the 1974-75
Labor Market Decline," in the Decem-
January 1979
declined from 84.6 percent in 1965 to
75.8 percent in 1975.
The stronger employment attachment of 20- and 25-year-old women in
1970-75 than in 1960-65 reflects the increase in the labor force participation
rates of young women. From 1965 to
1975 the participation rate of women
aged 20-24 increased from 49.9 to 64.1
percent, and the rate for women aged
25-34 increased from 38.5 to 54.6 percent. These increases are partly attributable to the reduced tendency—
evidenced by the data in table 1—for
employed young women to leave the
labor force.
Table 2 shows the percent of the
workers in each quartile of each age-sex
group's base-year earnings distribution
who were employed in each of the
following 5 consecutive years. With
only minor exceptions, the likelihood of
a worker's employment in 6 consecutive
years rose steadily with increasing baseyear earnings within each of the age-sex
groups. This phenomenon reflects the
fact that high earners are less likely
than lower earners to leave the labor
force.5 Within most age-sex categories,
there was a sharp drop in employment
attachment from the third to the fourth
quartiles of the earnings distribution.
This phenomenon reflects the behavior
of a large group of low earners who work
only intermittently.
In those age-sex categories in which
employment attachment declined from
1960-65 to 1970-75, there was no clear
relationship between earnings level and
the extent of the decline. For 20- and
year, was higher for men in 1970-75
than in 1960-65. For men aged 25-34,
for example, the average annual ratio
increased from 100.7 in 1960-65 to
104.5 in 1970-75. The increase in labor
force withdrawals for men reflects such
factors as the increase in the number
receiving disability benefits and the
increased employment of wives, which
has made husbands7 nonparticipation
in the labor force more affordable.4 The
weaker employment attachment of 55year-old
men in 1970-75 than in 1960ber 1977 SURVEY OF CURRENT BUSI65
reflects
the trend toward earlier
NESS.) The role of labor market declines
is further evidenced by the effect of the retirement; the civilian labor force
recession that troughed in the first participation rate of men aged 55-64
quarter of 1975. For example, only 86.6
4. See William V. Deuterman, Jr., "Another Look at Workpercent (47.3 divided by 54.6) of the
5. The evidence is inconclusive on the relationship betwee n
Men Not in the Labor Force," Monthly Labor Review,
20-year-old men employed consecutively ing-Age
earnings level and the likelihood of being fired or laid off.
June 1977.
in 1970-74 were employed in 1975,
whereas 95.2 percent (63.3 divided by
opor
py
p
66.5) of those employed consecutively
Following Five Consecutive Years, by Base-Year Earnings Group
in 1960-64 were employed in 1965.
[Percent]
Movement from employment to labor
force nonparticipation, as well as to
unemployment, explains the consistently
weaker year-to-year employment attachment among men in 1970-75 than
in 1960-65. Labor force "turnover," as
measured by the ratio of the number of
persons with any labor force participation during the year to the average
number in the labor force during the
20 years old in
1960
Men:
Top quartile
Second quartile
Third quartile
Bottom quartile
Women:
Top quartile..
Second quartile
Third quartile
Bottom quartile
.
1970
25 years old in
1960
1970
35 years old in
1960
1970
45 years old in
1960
1970
55 years old in
1960
1970
75.6
64.7
64.8
48.2
61.8
49.4
46.1
32.0
83.1
80.4
71.8
51.2
76.3
69.4
61.5
37.8
88.3
85.2
78.3
54.3
79.2
81.1
71.8
49.0
86.3
86.1
78.8
53.1
82.7
79.6
73.4
48.3
82.5
79.6
73.4
46.2
74.5
71.7
68.1
41.0
33.0
32.8
25.1
16.6
44.2
34.0
26.2
20.0
40.9
40.0
35.1
16.0
46.0
43.5
35.2
18.4
72.5
64.8
53.5
36.8
71.8
56.4
51.1
30.3
80.5
73.2
63.7
41.1
75.2
68.0
55.8
38.0
79.5
73.7
66.0
42.5
66.5
64.0
58.5
37.5
Source: Continuous Work History Sample, Social Security Administration.
January 1979
SURVEY OF CURRENT BUSINESS
27
Table 3.—Interemployer and Interindustry
Mobility
mobility declined with increasing age; amount of interemployer mobility.8
older workers were more likely than However, the hypothesis that young
Percent of those employed in the
younger
workers to remain with the women would show more mobility in
base year and the following 5
consecutive years who had:
same employer, and among those who 1970-75 than in 1960-65 because of the
changed employers, older workers were enhanced opportunities for women
Same
Different employer
employer
more likely than younger workers to workers does draw some support from
all 6
years
Same
Different
remain in the same industry. For ex- the fact that 20- and 25-year-old
industry * industry*
ample, 50 percent (15.8 divided by the women were more likely to change
Men:
sum of 15.8 and 15.8) of the 55-year-old employers in 1970-75 than in 1960-65,
20 years old in 1960
5.5
17.6
76.9
20 years old in 1970
3.8
16.4
79.8
women who changed employers in 1960- while the opposite was true for workers
25 years old in I960....
38.8
50.0
11.1
25 years old in 1970
40.0
52.6
65 remained within the same industry, in most of the other age-sex categories.
7.4
35 years old in 1960
15.0
55.9
29.1
Table 4 shows the percent increases
compared with 18 percent (12.4 divided
35 years old in 1970
58.0
8.1
33.9
in
total earnings from 1960 to 1965 and
by
the
sum
of
12.4
and
57.4)
of
the
45 years old in 1960
63.0
13.7
23.3
45 years old in 1970
66.0
25.6
8.4
20-year-old women. The very high from 1970 to 1975 for the 6-year
55 years old in 1960
14.2
69.2
16.6
levels of interindustry mobility among workers in each age-sex category, as
55 years old in 1970
70.4
21.9
7.7
20-year-olds reflect the predominantly well as for the employer stayers and
Women:
20 years old in I960....
12.4
30.2
57.4
noncareer nature of jobs held by 20- the employer and industry changers in
20 years old in 1970
26.8
65.0
8.2
year-olds, many of whom later moved each age-sex category. As expected, the
25 years old in 1960
15.0
38.2
46.8
25 years old in 1970
46.2
12.3
41.5
to or from the military, or from part- size of the increase for both men and
35 years old in 1960
57.2
15.2
27.6
35 years old in 1970
55.5
11.0
33.6
time jobs that they held while attending women was negatively related to age.
45 years old in 1960
^jnong 20- and 25-year-olds, men had
16.2
61.9
21.9
school.
45 years old in 1970. _'..
65.4
24.5
10.1
larger
increases than women; in the
Twenty- and twenty-five-year-old
55 years old in 1960
68.4
15.8
15.8
55 years old in 1970
9.5
69.9
20.6
women were less likely than their male older categories, women had larger incounterparts to change employers and
1. Industries are defined at the two-digit Standard Industrial Classification level.
industries, but in the older age cate8. There was an apparent decline from 1960-65 to 1970-75
Source: Continuous Work History Sample, Social Security
interemployer mobility within the same industry. HowAdministration.
gories there was little difference be- inever,
this phenomenon reflects a flaw in the data source;
tween men and women in the amount some workers who changed employers within the same
industry in 1970-75 were designated as moving into an
25-year-old women, who showed an in- of interemployer and interindustry mo- "industry
unknown" category, and were therefore counted
crease in employment attachment, the bility. There was also little difference as industry changers, rather than industry stayers.
increase was concentrated among those between 1960-65 and 1970-75 in the
{Continued on page 36)
in the upper half of the earnings distributions. This finding is significant,
because it implies that the reduced Table 4.—Earnings Increase, Base Year to Fifth Year Thereafter, Workers Employed
6 Consecutive Years
tendency for young, employed women
[Percent]
to leave the labor force has not had the
equalizing effect on family income distriEmployer changers
Employer
bution that would have resulted had
All workers
stayers
Industry
Industry
this reduction been found among low
changers
stayers
earners, who are likely to be married
to low-earning men.6
Men:
131.1
78.1
78.6
115.9
20 years old in I960..
180.4
116.2
110.4
162.3
Interemployer and interindustry mobil- 20 years old in 1970..
76.8
53.1
45.9
25 years old in I960..
60.5
ity.—Table 3 shows, for those workers
86.2
66.5
69.4
25 years old in 1970..
77.1
in each age-sex category who were em30.9
27.2
26.8
35 years old in I960..
27.9
47.8
49.4
51.8
50.4
ployed in the base year and also in the 35 years old in 1970..
16.7
17.5
17.8
years old in I960..
17.6
following 5 consecutive years, the pro- 45
36.5
40.2
44.9
45 years old in 1970..
42.6
portion who had the same employer
5.1
13.5
12.3
12.2
55 years old in I960..
24.7
31.0
39.2
35.7
throughout the 6-year period, the pro- 55 years old in 1970..
portion who changed employers within Women:
68.3
50.1
43.5
57.3
20 years old in I960..
130.1
91.0
80.0
109.5
20 years old in 1970..
a single industry, and the proportion
41.0
23.6
31.9
25 years old in I960..
33.8
who changed industries.7 For both sexes,
59.5
47.0
60.5
6. The CHWS contains no information on marital status.
However, recent increases in the participation rates of young
women have been confined to married women.
7. If a worker had more than one employer during the first
quarter of a year, his employer is designated as the one who
provided the largest share of the worker's earnings, and his
industry as the industry of that employer. Industries are
denned at the two-digit Standard Industrial Classification
level.
25 years old in 1970..
58.3
35 years old in I960..
35 years old in 1970..
30.7
58.0
28.3
55.4
30.6
59.2
37.2
63.1
45 years old in I960..
45 years old in 1970..
24.9
51.8
23.9
50.6
27.1
43.5
27.1
59.8
55 years old in I960..
55 years old in 1970..
19.1
39.1
19.6
40.8
19.7
27.8
15.4
37.2
Source: Continuous Work History Sample, Social Security Administration.
By NED G. HOWENSTINE
Gross Product of U.S. Affiliates
of Foreign Companies
A HIS article presents estimates of
gross product (value added) of U.S.
affiliates of foreign companies in 1974.
Gross product is an economic accounting measure of production. U.S. affiliate
gross product is the affiliates' contribution to U.S. gross domestic product
(GDP), and it is calculated as the
sum of the charges against affiliate
production. In the national income and
product accounts (NIPA's), these
charges consist of the following components: Compensation of employees,
profit-type return (PTR), net interest,
indirect business taxes, etc. (IBT), and
capital consumption allowances (CCA).
(See table 6.1 of the July 1978
SURVEY OF CURRENT BUSINESS.)
In
general, the components of affiliate
gross product are conceptually consistent with those in the NIPA's.
The article is divided into two sections. The first reviews the distribution of U.S. affiliate gross product by
industry, by country of foreign parent,
and by component. The second compares affiliate gross product with allU.S.-business gross product as measured
in the NIPA's. A technical note discusses data sources, issues relating to
the conceptual consistency between the
components of U.S. affiliate and NIPA
gross product, and other methodological issues.
U.S. Affiliate Gross Product
By industry and by country of foreign
parent
The gross product of U.S. affiliates
was $24.7 billion in 1974 (table 1). Of
the eight major industries that make up
the total, three accounted for $20.0 billion, or over 80 percent: manufacturing,
$11.1 billion; petroleum, $5.9 billion;
and wholesale trade, $3.0 billion. U.S.
affiliates with parents in the United
NOTE.—Arnold Gilbert was responsible for
the design of computer programs for retrieval
and analysis of the data; Ethel J. Wheeler
provided statistical assistance.
Table 1.—"Gross Product of U.S. Affiliates, by Industry and by Country of Foreign Parent, 1974
[Millions of dollars]
Manu-
Total
Total
Developed countries
Canada
Europe
European Communities (9)
France
Germany
Netherlands
United Kingdom
Other
Other Europe
Switzerland
Other
Japan
Australia, New Zealand, and South Africa
Developing countries
Latin America
Middle East
Other Africa, Asia, and Pacific
•Less than $500,000.
Suppressed to avoid disclosure of data of individual reporters
D
28
Mining
Transporta-
lacturing
Petroleum
tion, communication, and
public utilities
Wholesale
trade
Finance, insurance, and real
estate
Retail
trade
Other
24,690
660
5,886
11,121
649
2,958
1,246
1,493
677
22,268
639
5,698
9,966
557
2,480
1,155
1,234
538
4,491
219
357
2,534
333
444
16,304
14,420
1,114
1,008
5,597
5,965
733
1,886
1,417
469
419
419
5,338
5,273
7,069
5,766
605
758
1,251
2,966
187
1,304
1,G16
287
153
112
6
13
22
64
8
41
21
22
1,302
1,043
195
180
225
357
87
258
154
106
(D)
(P)
3
175
225
1
950
(I>)
0
0
0
66
(D)
(D)
1,408
1
2
355
49
728
62
0
0
8
22
6
2,424
22
188
1,154
91
477
190
1,145
9
65
8
19
463
9
5
2,281
(D)
52
88
(D)
0
C)
D
261
( )
812
750
115
51
21
472
91
63
78
-16
24
156
91
261
140
205
24
30
126
2
12
(D)
(D)
(*)
(P)
279
44
25
4
(D)
(D)
384
315
5
7
827
742
5
2
62
652
22
85
SURVEY OF CURRENT BUSINESS
January 1979
29
Table 2.—Gross Product of U.S. Affiliates, by Component, 1974
Millions of dollars
Total
Total
Mining
_
Petroleum
M anufacturing
Transportation, communication, and public
utilities
Wholesale trade_
Retail trade
Finance, insurance, and real estate.._
Other
Employee
compensation
Profittype
return
Percent
Net
interest
Indirect
business
taxes
Capital
consumption
allowances
Total
Employee
compensation
Profittype
return
Net
interest
Indirect
business
taxes
Capital
consumption
allowances
24,690
13,208
3,923
988
4,574
1,996
100
54
16
4
19
8
660
5,886
11,121
345
1,452
6,700
179
1,997
1,348
33
170
416
30
1,572
1,872
73
695
785
100
100
100
52
25
60
27
34
12
5
3
4
5
27
17
11
12
7
649
2,958
1,246
489
1,765
1,061
85
-27
-56
2
348
36
32
739
129
41
132
75
100
100
100
75
60
85
13
-1
-4
12
3
5
25
10
4
1,493
677
898
497
388
8
-70
54
167
34
109
85
100
100
60
73
26
1
-5
8
11
5
7
13
(*)
Q
* Less than 0.5 percent (±).
Kingdom, the Netherlands, and Canada
In table 3, employee compensation
together accounted for $16.1 billion, or shares are decomposed into two ratios—
64 percent, of the total. These affiliates compensation per employee, and emaccounted for at least one-half of the ployment per $1 million of gross prodgross product of every industry shown uct. Most of the differences among
in table 1, except wholesale trade, where industries in compensation shares were
their share was 35 percent. In whole- attributable to differences in employsale trade, affiliates of Japanese parents ment per $1 million of gross product,
accounted for the largest share—25 rather than to differences in compensapercent of the total. The gross product tion per employee.1 The dominance of
of affiliates with parents in the Nether- the first factor can be illustrated by
lands was largely in petroleum; these considering petroleum and retail trade.
affiliates accounted for over 60 percent Petroleum had the lowest compensaof petroleum gross product.
tion share, even though it had the highest compensation per employee, because
By component
employment per $1 million of gross
Employee compensation accounted product was low (16). Retail trade had
for 54 percent of gross product, IBT the highest compensation share, even
for 19 percent, PTR for 16 percent, though it had nearly the lowest comCCA for 8 percent, and net interest for pensation per employee, because employment per $1 million of gross product
4 percent (table 2).
was
high (97).
Differences among industries in the
Profit-type
return.—PTR shares varshares of the components, together
ied
considerably
among industries.
with factors that may have caused the
They
were
particularly
large in petrodifferences, are discussed below. Each
leum
(34
percent),
mining
(27 percent),
factor is discussed in relation to the
and
finance,
insurance,
and
real estate
component it most directly affects,
(26
percent).
They
were
negative
in
even though it also affects the other
wholesale
and
retail
trade,
where
affilicomponents, because a higher (lower)
share for one component necessarily ates had net losses. The PTR share is
means a lower (higher) share for others. more affected by changes in general
Employee compensation.—Employee economic conditions than other comcompensation accounted for at least ponents, mainly because the value of
one-half of gross product in every production changes with general ecoindustry except petroleum, where its nomic conditions, and the PTR share
share was 25 percent. Shares were par- is derived by deducting from value of
ticularly large in retail trade (85 per1. U.S. affiliate employment and compensation per emcent), transportation, communication,
are discussed in "Employment and Employee Comand public utilites (75 percent), and ployee
pensation of U.S. Affiliates of Foreign Companies, 1974" by
Obie G. Whichard, in the December 1978 SURVEY.
"other" industries (73 percent).
production several cost items that in
the short run are relatively fixed.
The large PTR shares in petroleum
and mining reflected increases in the
value of production due to sharp
increases in oil, metal, and mineral
prices in 1973-74. In finance, insurance,
and real estate, the PTR share was
large because interest receipts account
for a large portion of total receipts in
this industry (particularly in finance)
and interest rates were especially high
in 1974. In other industries, profits may
have been unusually low—or negative
as in wholesale and retail trade—because of the severity of the 1974
recession.
Differences in PTR shares may also
have reflected differences among industries in the amount of capital needed
for production. For example, petroleum
and mining are capital-intensive indusTable 3.—U.S. Affiliate Employee Compensation Share of Gross Product, Compensation Per Employee, and Employment
Per $1 Million of Gross Product, 1974
Employee
compensation
share of
gross
product
Compensation
per
employee
Employment per
$1 million
of gross
product
Percent
Dollars
Number
Total
Mining
Petroleum
Manufacturing
54
12,239
44
52
25
60
15,068
15,617
12,156
35
16
50
Transportation, communication, and
public utilities
Wholesale trade
Retail trade
75
60
85
14,470
13,732
8,818
52
43
97
Finance, insurance,
and real estate
Other
60
73
12,377
8,746
49
84
30
tries; consequently, the return to capital in these industries was large, and
inasmuch as capital requirements were
met largely through equity investment,
payment was in the form of PTR.
Net interest.—The net interest share
was largest (12 percent) in wholesale
trade. In this industry, affiliates of
Japanese companies, which were more
highly leveraged than most other U.S.
affiliates, accounted for a substantial
portion of gross product.
Indirect business taxes.—IBT shares
were particularly large in petroleum
(27 percent), wholesale trade (25 percent), and manufacturing (17 percent).
Affiliates in these industries sold or
imported products that are subject to
large excise taxes or import duties. In
petroleum, the large IBT share reflected excise taxes and import duties on
petroleum products and import duties
on crude oil. In wholesale trade, IBT
included excise taxes and/or import
duties on crude oil, petroleum products,
alcoholic beverages, tobacco, automobiles, and automobile parts.2 In manufacturing, the IBT share reflected
excise taxes on alcoholic beverages and
tobacco.
Capital consumption allowances.—
CCA shares were largest in the "other"
category (13 percent), petroleum (12
percent), and mining (11 percent). In
"other," CCA shares were especially
large in equipment leasing and linen
supply. Affiliate equipment leasing is
capital-intensive and the equipment
leased (mainly automobiles and computers) has short service lives.3 Linen
also has relatively short service lives.
In petroleum and mining, the CCA
shares were large because these industries are capital intensive, and in some
instances, the service lives of capital are
relatively short. For example, the
services lives of drilling and exploration
2. Because of the treatment of petroleum as an integrated
industry in these data, wholesale trade affiliates whose largest
sales were in crude oil and petroleum products were classified
in petroleum. However, some affiliates that had substantial
sales in crude oil and petroleum products wholesaling were
classified in wholesale trade because they had even larger
sales in other wholesale categories. (See the discussion of the
classification of the petroleum industry in the second section.)
3. Capital consumption per year is larger for assets with
short service lives than for other assets. Industries where
asset service lives are relatively short, will, ceteris paribus,
have larger CCA shares than other industries.
SURVEY OF CURRENT BUSINESS
structures are less than one-half those
of most other nonresidential structures.
January 1979
Geographical coverage and industry
classification
The U.S. affiliate and all-U.S.-business gross product estimates differ in
three respects. First, the definition of
This section compares U.S. affiliate the United States for the U.S. affiliate
gross product with that of all U.S. estimates is somewhat broader than
businesses. All-U.S.-business gross prod- that for all U.S. businesses. Second,
uct excludes the gross product of affiliate estimates are on an enterprise
government, government enterprises, basis, while those for all U.S. busiand private households; gross product nesses are on an establishment basis.
imputed for owner-occupied farm and
Third, for U.S. affiliates, all phases of
nonfarm dwellings; and the statistical
petroleum
production are classified in
discrepancy. However, it includes the
gross product of nonprofit organizations the petroleum industry, while for all
and institutions and of quasi-govern- U.S. businesses the various phases are
ment institutions, such as Federal classified in different industries (petroleum extraction is classified in mining,
Reserve banks.
Comparisons With All-U.S.Business Gross Product
Table 4.—Gross Product of All U.S. Businesses and U.S. Affiliates, 1974
All-U.S.business
gross
productl
Affiliate
gross
product
Affiliates as
a percent of
all U.S.
businesses
Millions of dollars
All industries.
Mining
Metallic
Nonmetallic.
Petroleum
1,123,601
24,690
12,100
1,961
10,139
100
100
5
17
3
1
3
1
1
18
16
92
323,090
30,990
10,897
10,665
12,267
11,121
2,171
224
145
82
3
7
2
1
1
5,081
13,962
16,464
24,494
21
327
497
2,816
10,625
30,668
24,858
36,641
207
1,360
530
666
29,166
35,140
8,210
22,962
582
48
263
1,182
Transportation, communication, and public utilities..
Wholesale trade
Retail trade..
121,487
110,596
132,837
Finance, insurance, and real estate
Food and kindred products
Textile mill products
Apparel and other textile products..
Lumber and wood products
Furniture and fixtures..
allied productsRubber and miscellaneous plastics products.
Primary metals industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Instruments and related products
Other
Banking
Credit agencies other than banks. Security, commodity brokers and services, and holding and other investment companies
Insurance
Real estate and combined offices
Other industries
Agriculture, forestry, and fisheries
Construction
Hotels and lodging places
Other services
U.S.
affiliates
2
5,886
5,092
795
Manufacturing
All U.S.
businesses
Percent
32,191
31,329
862
Exploration,
extraction, refining, and processing.
Other2
Distribution
(*)
(*)
1
3
3
24
21
3
29
3
1
1
1
45
(*)
(*)
2
3
12
1
1
2
2
4
2
2
1
3
2
3
2
3
3
5
1
2
649
2,958
1,246
1
3
1
11
10
12
116,689
23,189
-5,910
1,493
790
-7
1
3
n.a.
10
2
-1
5,585
21,947
71, 878
151
353
207
3
2
274,611
46,904
67,622
8,156
151,929
677
121
88
117
352
(*)
(*)
(*)
1
2
11
1
1
Q
(*)
(*)
(*)
(*)
9
1
1
1
(*)
(*)
5
12
5
(*)
(*)
2
6
24
4
6
1
14
(*)
(*)
(*)
Addendum:
Puerto Rico,3 Canal Zone, and U.S. territories and
possessions
91
n.a.
n.a.
n.a. Not applicable.
*Less than 0.5 percent (±).
1. All-U.S.-business gross product excludes the gross product of government, government enterprises, and private
households, imputed gross product of owner-occupied farm and nonfarm dwellings, and the statistical discrepancy. All-U.S.business gross product includes the gross product of nonprofit organizations and institutions and of quasi-government institutions such as Federal Reserve banks.
2. For all U.S. businesses, consists of pipelines (except natural gas). See text for discussion.
3. These areas are defined to be part of the United States in the U.S. affiliate estimates, but not in the all-U.S.-business
estimates.
January 1979
petroleum refining in manufacturing,
etc.)
These three differences are discussed
more fully in the article by Whichard
cited earlier. As indicated in that
article, the first two differences probably have only a minor effect on
comparisons of U.S. affiliates and all
U.S. businesses. The difference in
treatment of the petroleum industry is
more important. To minimize the effect
of the difference, wherever possible
petroleum data were separated from
nonpetroleum data for all U.S. businesses, and the petroleum data were
then broken down into two categories,
"petroleum exploration, extraction, refining, and processing" and "other
petroleum." In the first category,
coverage was the same for all U.S.
businesses and U.S. affiliates. In the
second, coverage differed because for
all U.S. businesses this category includes only pipelines (except natural
gas), while for affiliates it also includes
petroleum tanker transportation, natural gas pipeline transmission, petroleum wholesale trade, and gasoline
service stations and service station
sites. Because these subindustries are
included in nonpetroleum industries in
the all-U.S.-business data, coverage in
those nonpetroleum industries also differs. However, these differences in
coverage are minor because the petroleum portion of those industries is
small.
All-U.S.-business gross product accounted for by U.S. affiliates
U.S. affiliates accounted for 2 percent
of all-U.S.-business gross product in
1974 (table 4). Although the overall
percentage was small, U.S. affiliate
shares were relatively large in petroleum
exploration, extraction, refining, and
processing (16 percent), chemicals (12
percent), food (7 percent), "other"
manufacturing, mainly tobacco (5 percent), and mining (5 percent).4
4. Comparisons in this section are for the mining industry
as a whole, to avoid distortion that stems from the classification of affiliates on an enterprise basis and of U.S. businesses on an establishment basis. Within mining, this difference resulted in an overstatement of U.S. affiliates' shares
in metallic mining. Comparisons for mining as a whole are
not distorted because most sales of metallic mining affiliates
that were not in their own industry were in nonmetallic
mining, and most sales of nonmetallic mining affiliates were
in their own industry. (See the Whichard article.)
SURVEY OF CURRENT BUSINESS
The large share in petroleum exploration, extraction, refining, and processing
accounted for by U.S. affiliates reflected the fact that a few large multinational companies (MNC's) dominate
this industry worldwide, and that some
of the foreign-based companies have
sizable operations in the United States.
Foreign MNC's operate in the United
States in order to maintain their competitive positions vis-a-vis U.S.-based
petroleum companies and to ensure
their access to U.S. crude oil supplies.
In chemicals, the large share accounted for by affiliates may have
reflected advantages gained by efficiency
in production and by product innovation. These advantages were partly due
to the affiliates' access to the technology
of their parent companies. Most of
these companies were located in the
United Kingdom, the Netherlands,
Germany, and Switzerland, where
chemicals-related technology has been
advanced. Several other factors may
also have contributed. Production of
chemicals requires relatively little labor,
so that high U.S. wage rates probably
did not deter investment to the same
degree as in other industries. High U.S.
tariffs on benzene-related products and
U.S. regulations concerning pharmaceuticals may have induced foreign
chemical companies to produce in,
rather than to export to, the United
States. In pharmaceuticals, foreign companies, by producing in the United
States, probably were able to shorten
the time required for Federal approval
of new drugs.
Distribution by component
The distribution of U.S. affiliate gross
product by component is compared with
that of all U.S. businesses in table 5.
Gross PTR is used because understatement of affiliate PTR, relative to allU.S.-business PTR, due to certain inconsistencies is offset by overstatement
of affiliate CCA, relative to all-U.S.business CCA (see technical note).
At the the all-industry level, U.S.
affiliates and all U.S. businesses differed
significantly in the shares of gross
product accounted for by employee
compensation and IBT; for gross PTR
and net interest, the differences were
31
small. Differences in industry mix and
other factors that led to the differences
are discussed below for each component.
U.S. affiliates and all U.S. businesses
also differed significantly in the distribution of gross product by component
in many individual industries. The
differences partly reflected differences
in the mix of particular subindustries
within the individual industries. Although systematic comparisons of U.S.
affiliate and all-U.S.-business gross
product at industry levels below those
shown in the table are generally precluded by data limitations, some of the
significant differences in distributions
among subindustries are noted below.
Employee compensation.—Employee
compensation accounted for 54 percent
of gross product for U.S. affiliates and
for 61 percent for all U.S. businesses.
The difference reflected the comparatively large portion of affiliate gross
product in petroleum, where compensation shares were low, and the small
portion in retail trade and "other"
services, where compensation shares
were high.
In manufacturing, the compensation
share was significantly lower for
U.S. affiliates than that for all U.S.
businesses—60 percent and 76 percent,
respectively. The affiliate share was
lower because both compensation per
employee and employment per $1 million of gross product were lower
(table 6). The lower compensation per
employee figure was attributable to a
general tendency for manufacturing
affiliates to pay lower compensation
per employee rather than to differences
in industry mix. In 13 of the 16 manufacturing industries, compensation per
employee was lower for affiliates than
for all U.S. businesses.5
The general tendency for affiliate
compensation per employee in manufacturing to be lower is due to several
5. In lumber, one of the three industries where affiliate
compensation per employee was higher, a large portion of
affiliate gross product was in Alaska, where wage rates were
exceptionally high.
If comparisons of compensation per employee are made at
the all-industry level, rather than only for manufacturing, a
different conclusion results: namely, that compensation per
employee was higher for affiliates than for all U.S. businesses.
Moreover, the difference was largely attributable to differences in industry mix rather than a general tendency for
affiliates to pay higher compensation. Differences in compensation rates at the all-industry level are discussed in the
Whichard article.
SURVEY OF CURRENT BUSINESS
32
January 1979
Table 5.—Gross Product of All U.S. Businesses
[Millions of dollars or
Gross product
Employee compensation
Amount
Line
All U.S.
businesses i
All industries
Mining
Metallic
Nonmetallic
-
_
_
_
Petroleum
.._
Exploration, extraction, refining, and processing
Others
_
10
11
12
Manufacturing
Food and kindred products
Textile mill products
_
Apparel and other textile products
Lumber and wood products
.
_.
13
14
15
16
Furniture and
Paper and allied products
Printing and publishing
Chemicals and allied products
17
18
19
20
Rubber and miscellaneous plastics products
Primary metals industries
Fabricated metal products
__
Machinery except electrical
21
22
23
24
Electric and electronic equipment
Transportation equipment
Instruments and related products
Other
_
fixtures
24,690
689,723
13,208
660
334
6,065
1,489
4,576
345
201
144
32,191
31,329
862
5,092
794
8,268
8,003
265
1,452
1,290
162
323,090
30,990
10,897
10,665
12,267
11,121
2,171
224
145
82
245,481
19,647
8,351
9,489
7,088
6,700
848
191
122
5,081
13,962
16,464
24,494
21
327
497
2,816
4,449
9,257
12,953
15,396
20
167
321
1,615
10,625
30,668
24,858
36,641
207
1,360
530
8,228
20,879
20,931
30,703
162
850
389
583
29,166
35.140
8,210
582
48
263
24,170
30,577
7,416
577
47
222
._
_
_
_
_
_
-
_
_
_
_
_
._
_.
_
_
_
__.
._
22,962
1,182
15,947
536
121,487
649
68,394
489
110,596
2,958
58,226
1,765
25
Transportation, communication, and public utilities
26
Wholesale trade
27
Retail trade
28
29
30
31
32
33
Finance, insurance, and real estate
_
Banking
_.
_.
._
Credit agencies other than banks
_
Security, commodity brokers and services, and holding and other investment companies
Insurance
_.
Real estate and combined offices
116,689
23,189
-5,910
5,585
21,947
71,878
1,246
1,493
790
-7
151
353
207
34
35
36
37
38
Other industries
274,611
46,904
67,622
8,156
151,929
677
121
88
117
352
,.
Agriculture, forestry, and
Construction
Hotels and lodging places
Other services
fisheries
__
132,837
_
_.
__
_
_
._
n.a. Not applicable.
1. All-U.S.-business gross product excludes the gross product of government, government
enterprises, and private households, imputed gross product of owner-occupied farm and nonfarm dwellings, and the statistical discrepancy. All-U.S.-business gross product includes the
All U.S.
businesses
All U.S.
businesses
U.S.
affiliates
Percent
Manufacturing, total
Compensation
per employee
Employment per $1
million of gross product
U.S.
affiliates
Dollars
All U.S.
businesses
U.S.
affiliates
Number
76
60
12,719
12,156
60
50
Food and kindred products
Textile mill products
.
Apparel and other textile products..
Lumber and wood products
63
77
89
58
39
85
84
60
12,017
8,781
7,489
10, 243
11,348
8,662
8,255
10,397
53
87
119
56
34
99
102
58
Furniture and fixtures
Paper and allied products
Printing and publishing
Chemicals and allied products
88
66
79
63
96
51
65
57
9,486
13, 455
12,799
15,183
9,446
12,420
12,077
14,078
92
49
61
41
102
41
54
41
Rubber and miscellaneous plastic
products..
Primary metals industries. _ _
Fabricated metal products
Machinery, except electrical
77
68
84
84
78
63
73
87
11,942
16,427
13,115
14,001
10,669
14,028
12,881
13, 438
65
41
64
60
73
45
57
65
Electric and electronic equipment. __
Transportation equipment
Instruments and related products...
Other
83
87
90
69
99
99
85
45
12, 401
16,519
12,808
11,044
10,727
9,519
9,570
11, 491
67
53
71
63
92
104
88
39
.
84,552
45,766
13,292
4,400
4,053
16,734
7,287
172,971
8,504
52,365
5,393
106,709
1,061
898
300
28
132
390
48
497
38
96
82
280
All U.S.
businesses
U.S.
affiliates
56
53
64
39
57
n.a.
73
76
10
60
38
n.a.
88
111
23
73
32
109
70
80
gross product of nonprofit organizations and institutions and of quasi-government institutions
such as Federal Reserve banks.
2. P T R & CCA.
3. For all U.S. businesses, consists of pipelines (except natural gas). See text for discussion.
Table 6.—All-U.S.-Business and U.S. Affiliate Employee Compensation Share of Gross
Product, Compensation Per Employee, and Employment Per $1 Million of Gross
Product in Manufacturing, 1974
Employee compensation
share of gross product
U.S.
affiliates
12,000
1,961
10.139
.
_
All U.S.
Percent
1,123,601
.-.
__
U.S.
affiliates
factors. It was partly due to the greater
concentration of affiliate employment
in regions, such as the Southeast, where
wage rates were relatively low.6 In
addition certain functions—such as
research and development, planning,
and financial management—that require relatively highly paid employees,
may have been performed abroad by
foreign parent companies for their affiliates. Finally, in some manufacturing
industries, lower affiliate compensation
per employee reflected a difference in
the mix of subindustries between U.S.
affiliates and all U.S. businesses. For
example, none of the small number of
affiliates in transportation equipment
6. See the Whichard article and Employment and Earnings,
States and Areas, 1939-74 (U.S. Department of Labor, Bureau of Labor Statistics Bulletin 1370-12).
January 1979
SUKVEY OF CURRENT BUSINESS
33
terest and insurance—were large relative to their sales. U.S. affiliates' sales
declined
in 1974 and, as a result of this
Indirect business taxes , etc.
Gross P T R 2
Net interest
decline and an increase in affiliates' imAmount
PercentPercent
Amount
Percent
Amount
ports, the value of affiliates' inventories
Line
nearly
doubled.7 Imports increased beU.S.
All
All
U.S.
U.S.
All
U.S.
All
U.S.
U.S.
All
All
U.S.
affilU.S.
affilaffilU.S.
affilU.S.
affilU.S.
affilU.S.
cause parent companies in Japan and
busibusibusiiates
busibusiiates
iates
iates
busiiates
iates
nesses
nesses
nesses
nesses
nesses
Germany, which were the main sources
nesses
of affiliate motor vehicle imports, main1
4,574
10
19
4 114,847
35,574
3
283,457
5,919
25
24
988
tained their production despite reces2
30
4
537
5
1
5
5,349
44
252
149
33
38
sions
in both countries; production was
84
9
64
3
240
15
12
5
3
168
25
33
10
15
3
5
4
1
297
51
85
51
168
5,181
(*)
C)
maintained because employment poli1,572
20
27
6,439
5
434
1
3
17,050
46
2,692
53
170
cies virtually precluded layoffs.
44
337
1
2
20
29
6
53
96
16, 625
2,249
6,364
1,456
425
443
49
56
97
73
11
9
75
115
9
15
7
Shares for affiliates in retail trade,
1,872
4
5
17
8
9,929
3
16,725
16
19
416
50,955
2,133
real
estate and combined offices, con997
3
4
19
56
9
15
1
98
18
4,582
5,764
1,207
19
18
8
393
11
4
5
239
3
2
1
10
1,914
struction, and "other services" were
766
230
15
2
10
180
3
2
2
11
5
7
3
3
3
283
2
2
12
2
3
35
391
29
37
4,505
lower than for all U.S. businesses be2
2
2
2
-1
97
8
117
8
-6
13
418
(*)
cause affiliates were more concentrated
144
29
44
241
8
2
2
385
9
3
3
14
4,079
351
2
152
97
5
1
1
19
4
19
31
15
3,063
in subindustries that either tend to
32
37
611
77
2
3
762
84
3
3
16
7,725
1,041
have low gross PTR or that were partic11
365
3
993
9
15
5
1,039
3
2
30
10
17
424
2
4
31
748
49
739
27
38
3
18
8,302
2
ularly affected by the 1974 recession.
106
11
20
522
24
2
5
637
12
3
2
19
2,768
22
899
2
2
11
3
31
5
848
31
5
20
4,191
For example, within retail trade, a
-34
1,322
-6
25
5
4
3,028
10
646
14
2
2
21
relatively
large portion of affiliate gross
1
0
3
2
0
7
5
15
2
5
5
22
1,079
1,851
1,633
441
21
5
173
7
2
8
3
2
180
13
5
23
product
was
in grocery stores, where
170
14
14
992
44
4
4
432
13
24
37
3,101
2,922
gross
PTR
tends
to be low. In "other
28,002
126
23
19
9
10,828
2
14,263
32
12
5
25
(•)
services,"
affiliate
gross product was
1
27,962
105
25
1,392
4
348
12
23,016
739
25
21
26
almost
entirely
in
subindustries that
19,152
20
14
2
36
2
2,093
3
27,040
129
20
10
27
provide
services
to
other
businesses; in
50,332
43
33
-70
2
11
498
2,668
-5
17,923
167
15
28
467
4
-15
1
6
29
20
12, 037
52
59 - 3 , 513
1,373
2
contrast,
a
substantial
portion
of all5
4
17
2
293
30
3,974
n.a.
n.a.
n.a.
n.a.
n.a.
n.a. -14, 577
-54
31
-36
67
-18
44
6
15
4
31
818
1,722
-1,008
U.S.-business
gross
product
was
in
sub16
66
19
5
32
-57
13
97
27
3,402
-1,095
-200
2,906
3
41
1
113
32
55
43
21
17
33
29,197
22, 861
12, 533
industries that provide services to
84,655
31
93
14
54
8,081
3
34
8
8,904
34
3
5
persons. The affiliate share may have
67
68
56
12
9
4
5
3
35
10
31, 994
4,195
2,211
-11
19
-12
2
1
1
2
3
3
36
12, 623
1,165
1,469
been lower because demand for business
-1
13
-1
25
13
674
21
11
9
8
37
1,030
1,059
26
11
1
37
17
5
5
17
3
38
39,008
1,662
4,550
services was probably more adversely
affected by the recession than demand
for personal services.
Net interest.—The share of gross product
accounted for by net interest was
were large-scale motor vehicles and airGross PTR.—The shares of gross
about
the same for U.S. affiliates and
craft
manufacturers—manufacturers product accounted for by gross PTR
all
U.S.
businesses. By industry, the
whose compensation per employee was were about equal for U.S. affiliates and
high and that accounted for a signifi- all U.S. businesses, even though affili- affiliate share was significantly higher
cant portion of all-U.S.-business gross ates were more concentrated than all in credit agencies other than banks;
product. Within primary metals man- U.S. businesses in industries—such as security, commodity brokers and servufacturing, a relatively large portion of petroleum exploration, extraction, re- ices, and holding and other investment
affiliate gross product was in nonferrous fining, and processing; mining; and companies; real estate and combined
metals, where, compared with ferrous chemicals manufacturing—where the offices; and wholesale trade.
metals, compensation rates were gen- shares for gross PTR were high. These
For the first of these two industries,
erally low.
differences in industry mix were offset net interest for all U.S. businesses was
The lower employment per $1 million by lower shares for affiliates than for all negative (i.e., interest received exceeded
of gross product in manufacturing for U.S. businesses in industries such as interest paid), while that for affiliates
affiliates than for all U.S. businesses wholesale and retail trade, real estate
largely reflected differences in industry and combined offices, construction, and
7. Data on affiliates' imports were collected only for 1974.
However, the change in these imports probably mirrored
mix. Two manufacturing industries— "other" services.
the change in total U.S. imports of non-Canadian new autofood and chemicals—where employIn wholesale trade, affiliates in motor mobiles, which increased from 1973 to 1974. (See U.S. Department per $1 million of gross product vehicles and automotive parts and ment of Commerce, Foreign Direct Investment in the United
States: Report of the Secretary of Commerce to the Congress in
was relatively low, accounted for 45 per- supplies had a large negative gross Compliance with the Foreign Investment Study Act of 1974
cent of gross product for affiliates, but PTR (table 7), because these affiliates' (Public Law 93-479), Volume2, April 1976, and U.S. Departof Commerce, Business Statistics, 1977 edition, March
for only 18 percent for all U.S. businesses. inventory carrying costs—including in- ment
1978.)
and U.S. Affiliates, by Component, 1974
percent of gross product]
SURVEY OF CURRENT BUSINESS
34
was positive. Within these industries,
affiliates were concentrated in subindustries—such as business credit
agencies and holding companies—
where interest receipts were relatively
small. In the third industry—real estate
and combined offices—affiliates were
concentrated in subindustries (e.g.,
apartment rentals) where gross product
was sharply affected by the recession.
Because interest payments are relatively fixed in the short run, the net
interest share of gross product was unusually high. In wholesale trade, affiliates of Japanese parents accounted for
a large portion of gross product; these
affiliates tend to be highly leveraged
and pay relatively large amounts of
interest.
In insurance, the net interest share
was negative for both affiliates and all
U.S. businesses. The much larger negative value for affiliates reflected affiliates' concentration in insurance other
Table 7.—Gross Product of U.S. Affiliates, 1974
[Millions of dollars]
Employee
compensation
Profittype
return
24,690
13,208
3,923
660
334
326
345
201
144
179
40
140
5,886
447
4,645
795
1,452
133
1,157
162
1,997
154
1,548
295
11,121
2,171
224
145
82
21
327
497
6,700
848
191
122
49
20
167
321
2,816
1,394
627
486
309
Total
Total.
Mining
Metallic
NonmetallicPetroleum
__
Exploration and extraction..
Refining and processing
Other...
Manufacturing
Food and kindred products
Textile mill products
_..
Apparel and other textile products.
Lumber and wood products
Furniture and fixtures.
Paper and allied products
_
Printing and publishing
Chemicals and allied products.
Industrial
Drugs
Agriculture
._
Other
Rubber and miscellaneous plastics products..
Primary and fabricated metals
Primary
Fabricated
_
Machinery
Machinery, except electrical.
Electric and electronic equipment
Radio, television, electronic components
Other
Transportation equipment
Instruments and related products
Other
Net
interest
Capital
Indirect
business consumption
taxes, etc. allowances
4,574
1,996
30
15
15
73
45
28
170
69
27
73
1,572
23
1,433
115
695
67
479
149
1,348
-57
(*)
-9
20
-3
109
131
416
98
11
15
2
2
8
5
1,872
1,207
3
3
2
(*)
785
75
19
14
8
2
34
21
1,615
813
372
185
246
731
266
201
241
23
77
52
9
4
12
310
209
32
49
20
207
1,890
1,360
530
162
1,239
850
13
367
303
64
11
72
49
24
17
162
121
41
1,248
666
582
304
277
48
263
1,182
1,159
583
577
318
258
47
222
536
-91
-16
-74
-55
-19
-13
12
137
56
31
25
9
17
7
7
44
79
38
41
25
15
3
(*)
649
489
85
32
41
2,958
292
696
312
312
265
87
397
1,765
240
221
172
101
127
233
-27
-186
29
-80
31
13
-47
197
15
348
88
75
59
9
41
19
40
17
739
133
169
32
34
27
8
14
322
132
16
40
11
17
12
5
20
11
Retail trade
1,246
710
536
1,061
628
433
-56
-16
-40
36
5
31
129
45
84
75
48
28
Finance, insurance, and real estate
1,493
790
-7
300
28
388
450
-70
4
-54
167
20
109
17
14
62
-63
-74
18
-200
113
48
4
66
3
8
58
-15
-18
-17
54
12
1
25
17
85
9
5
17
54
Transportation, communication, and public utilities..
Wholesale trade
Motor vehicles and automotive parts and supplies
Metals and minerals
._
Electrical goods
Machinery, equipment, and supplies
Other durable goods
Groceries and related products
Farm-product raw materials
Other nondurable goods
_
Food stores and eating and drinking places..
Other
Banking
._
_
Credit agencies other than banks
Security, commodity brokers and services; and investment companies (except holding companies)
Insurance..
_.
Real estate and combined offices
Holding companies
Other industries
Agriculture, forestry and fisheries..
Construction
Hotels and lodging places
Other services..
152
353
207
-1
114
390
677
121
88
117
352
497
38
* Less than $500,000.
Suppressed to avoid disclosure of data of individual reporters.
D
19
82
280
January 1979
than life insurance, where, compared
with life insurance, interest received
was large relative to interest paid.
Indirect business taxes.—IBT accounted for 19 percent of gross product
for U.S. affiliates and 10 percent for all
U.S. businesses. The higher share for
affiliates reflected their concentration
in industries, such as petroleum, and
alcoholic beverages and tobacco manufacturing, where excise taxes and/or
import duties were high.
In some industries, the IBT share for
affiliates was significantly lower than
that for all U.S. businesses, largely because of differences between affiliates
and all U.S. businesses in mix of subindustries. For example, in transportation, communication, and public utilities, the affiliate IBT share was lower
because there was almost no affiliate
gross product in public utilities, where
the IBT share was high.
Technical Note
Data sources
U.S. affiliate gross product estimates
were derived from BEA's 1974 benchmark survey of foreign direct investment in the United States, which was
conducted under authority of the Foreign Investment Study Act of 1974.
The estimates cover approximately
6,000 U.S. affiliates that reported financial and operating data, i.e., those
affiliates whose total assets or total
revenues were more than $100,000.
Data from the benchmark survey were
published in U.S. Department of Commerce, Foreign Direct Investment in the
United States: Report of the Secretary oj
Commerce to the Congress in Compliance
with the Foreign Investment Study Act oj
1974 (Public Law 93-479) Volume 2,
April 1976, and in "Benchmark Survey
of Foreign Direct Investment in the
United States, 1974", in the May 1976
SURVEY. The estimates in the present
article incorporate subsequent corrections and revisions; some of these revisions were discussed in "Foriegn Direct
Investment in the United States, 1976,"
in the October 1977 SURVEY.
Estimates of all-U.S.-business gross
product are from NIPA table 6.1 in
the July 1978 SURVEY. For industries
SURVEY OF CURKENT BUSINESS
January 1979
not shown in table 6.1, unpublished
BE A estimates were used.
U.S. affiliate and NIP A gross product
components
U.S. affiliate and NIPA gross product
components are compared in exhibit A.
In general, the U.S. affiliate components
are conceptually consistent with the
corresponding NIPA components; the
following describes the major instances
in which they are not.
U.S. affiliate PTR and CCA may
differ conceptually from the correspond-
ing NIPA components because, in the
NIPA estimates used here (i.e., those
disaggregated by industry), charges for
depreciation are based on Federal income tax returns.8 Valuation of these
charges therefore reflects accounting
8. Generally, in the NIPA's depreciation on a tax return
basis is adjusted to reflect the current replacement (rather
than historical) cost of assets and to reflect consistent asset
service lives and depreciation formulas. This adjustment—
the capital consumption adjustment (CCAdj)—is made to
profit-type income and CCA. However, the CCAdj is not
made in tables that are disaggregated by industry. The
CCAdj does not affect total GDP because changes in profittype income resulting from the CCAdj are offset by changes
in CCA.
35
practices under Internal Revenue Service regulations. In contrast, U.S. affiliate
depreciation charges are drawn from
accounting records on which annual
reports are based, and may not conform
to tax regulations. If U.S. affiliate tax
return-based depreciation exceeds their
annual report-based depreciation, their
PTR is overstated and CCA is understated relative to the corresponding
NIPA components. However, because
the overstatement of PTR is offset by
the understatement of CCA, total gross
product is not affected.
Exhibit A.—Comparison of U.S. Affilate and NIPA Gross Product Components
NIPA
U.S. affiliate
Compensation of employees
Wages and salaries.
Supplements to wages and salaries.
Same as NIPA.
Same as NIPA.
Profit-type return
Corporate profits (tax return basis) with inventory valuation
adjustment (IVA).
Corporate profits (annual
report basis) with IVA.
Proprietors' income with IVA.
Not applicable.
Rental income of persons with IVA.
Not applicable.
Surplus of government enterprises less subsidies:
Surplus of government enterprises.
Less: Subsidies.
Not applicable.
Same as NIPA.1
Net interest
Monetary interest paid.
Imputed interest paid.
Less: Monetary interest received.
Less: Imputed interest received.
Same as NIPA.
Same as NIPA.
Same as NIPA.
Same as NIPA.
Indirect business taxes, etc.
Indirect business taxes and nontax liability.
Business transfer payments.
Same as NIPA.
Not included.
Capital consumption allowances
Depreciation (tax return basis).
Depreciation (annual
port basis).
Accidental damage to fixed business capital.
May not be included.2
re-
1. The treatment of subsidies received by affiliates is the same as that in the NIPA's if these
subsidies were reported as "miscellaneous income" on the benchmark survey income statement.
2. Capital consumption allowances of affiliates include accidental damage to fixed business
capital if the value of the damage was included in depreciation as reported in the benchmark
survey.
SURVEY OF CURRENT BUSINESS
36
U.S. affiliate PTR, CCA, and total
gross product may be understated relative to the corresponding NIPA components because, unlike the NIPA's, no
adjustment was made to capitalize and
depreciate costs charged to current
expense for oil and gas well exploration
and development or mine shaft drilling.
The U.S. affiliate estimates are understated to the extent that costs charged
to current expense exceeded the depreciation that would have resulted if 1974
and prior years' costs had been capitalized and depreciated, as in the
NIPA's. U.S. affiliate PTR may be
further understated because bonus payments on nonproductive leases for oil
and gas well exploration and development that were expensed by affiliates
(Continued from page 27)
creases than men. The extraordinary
increases for 20-year-old men reflect the
fact that base-year earnings were understated for many of these men, because
they were employed in only part of the
first quarter of the base year.
In the two youngest categories of
January 1979
could not be added back to corporate
profits, as in the NIPA's.
Inventory valuation adjustment.—An
IVA was applied to U.S. affiliate and
all-U.S.-business PTR. The IVA is
Special estimating procedures
defined as the excess of the replacement
Capital gains and losses.—PTR is
measured after exclusion of capital cost of inventories used up over their
gains and losses. For U.S. affiliates in historical acquisition cost. In the
insurance—whose stock portfolios may NIPA's, the IVA is calculated from
be subject to large capital gains or information on inventory book values,
losses—data on capital gains and losses accounting methods for valuing invenwere reported. For all other affiliates, tories, and price changes. However,
capital gains and losses were estimated. because the necessary information was
In most instances where the estimated not available for U.S. affiliates, affiliate
capital gain or loss was large, it was IVA was estimated by multiplying, for
possible to verify the estimate from
a given industry, the all-U.S.-business
outside information. Verified net capIVA
by the ratio of average inventories
ital losses, together with net capital
losses reported by insurance affiliates, of U.S. affiliates to average inventories
accounted for 80 percent of the $1,722 of all U.S. businesses. In some indusmillion estimate of net capital losses for tries, additional information was used
to adjust this IVA estimate.
all U.S. affiliates.
men and the four youngest categories
of women, employer stayers generally
had smaller increases than their mobile
counterparts; the opposite was true in
the older categories. The CWHS does
not distinguish between "voluntary"
and "involuntary" mobility. It is likely,
however, that these results reflect the
importance of "voluntary" mobility
among young workers and "involuntary" mobility among older workers.
The increase in earnings for each
age-sex category was larger in 1970-75
than in 1960-65. Perhaps reflecting the
enhanced employment opportunities
for women, the step-up in the increase
was larger for 20-, 25-, and 35-year-old
women than for their male counterparts.
U.S. GOVERNMENT PRINTING OFFICE : 1979 O - 285-100
CURRENT BUSINESS STATISTICS
X HE STATISTICS here update series published in the 1975 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
That volume (available from the Superintendent of Documents for $6.80) provides a description of each series, references
to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1971 through 1974 (1964-74 for major quarterly
series), annually, 1947-74; for selected series, monthly or quarterly, 1947-74 (where available). Series added or significantly revised after the 1975
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively. Unless otherwise noted, revised monthly data
for periods not shown herein corresponding to revised annual data are available upon request.
The sources of the data are given in the 1975 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 187-88. Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data
from private sources are provided through the courtesy of the compilers, and are subject to their copyrights.
OF CURRENT BUSINESS.
1976
1975
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1975
1977
IV
1976
I
II
1978
1977
III
IV
I
III
II
II
I
IV
III
IV v
Annual total
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTt
Gross national product, totalf
bil.$_.
Personal consumption expenditures, total..do
Durable goods, total 9
do
Motor vehicles and parts.
do
Furniture and household equipment do
Nondurable goods, total 9
do
Clothing and shoes
do
Food
_ . .
do
Gasoline and oil
do._
Services, total 9
. do
Houshold operation _
do
Housing
do
Transportation
do .
Gross private domestic investment, total—.do
Fixed investment
do
Nonresidential
do
Structures
do
Producers' durable equipment-_
do
Residential
do
Change in business inventories
do .
Nonfarm
do
Net exports of goods and services
do .
Exports
do
Imports
do
Govt. purchases of goods and services, totaLdo
Federal
do
National defense
do
State and local
do
By major type of product: t
Final sales, total.
do
Goods, total
do
Durable goods
do
Nondurable goods
.
do
Services
do
Structures
do
Change in business inventories
do...
Durable goods
do
Nondurable goods
do.._
1,528.8
979.1
1, 700.1
1,090. 2
887.2
206.5
598.0
021.6
649.7
053.8
685.4
715.6
075.1
098.4
749.8
133.7
806.8
167.7
916.8
958.1
992.0
2,087.5
136.1
,210.8
188.6
214.5
255.2
276.7
1,322.9
356.9
,402.2
187.2
84.0
75.3
183.5
84.1
72.1
197.8
92.5
76.5
199.5
89.8
78.9
209.6
92.5
82.9
867.0
132.6
53.4
58.0
156. 6
69.7
63.9
178.4
81.5
71.3
143.5
60.6
60.8
152.2
67 7
61.9
154.7
69.1
63.0
156.7
69.5
64.2
162.8
72.6
66.5
173.2
81 3
68.0
175.6
81.2
69.9
177.4
79.5
72.0
408.9
70.1
209.6
39.5
442.6
75.7
225 8
42.8
479.0
81.5
245 2
46.5
421.4
72.2
216.6
40.5
430.3
73.8
219 4
41.4
437.4
74.2
223.9
41.9
444.5
76.1
227.4
43.0
458.3
78.5
232.3
45.1
465 9
78.5
237 5
46.1
473.6
79.3
244.5
46.2
479.7
81.4
246.4
46.0
496.9
86.7
252.6
47.5
501.4
82.9
257.7
48.3
519.3
87.5
267.8
49.1
531.7
90.5
272.0
51.5
550.8
94.6
279.4
55.6
437.5
64.5
150. 2
32.6
491.0
72.8
166 4
37.9
549.2
81.6
184.6
44.2
456.7
66.7
156.3
34.0
471.3
69.3
160.2
36.0
483.0
70.2
164.7
37.0
497.2
73.5
168.2
38.7
512.6
78.2
172.3
39.8
528.6
80.2
177 3
40.8
539.4
78.0
182.1
43.5
557.5
83.7
186.9
45.0
571.1
84.6
192.0
47.3
591.8
89.6
198.1
49.7
605.8
89.9
204.1
52.1
625.8
92.6
210.1
53.7
641.8
92.6
216.6
55.2
190.9
243.0
297.8
203.9
231.5
243.5
249.9
247.1
272.5
295.6
309.7
313.5
322.7
345.4
350.1
359.9
336.5
227.5
80.9
146.6
347.4
235.0
84.0
151.0
201.6
150.2
53.8
96.4
232 8
164.6
57 3
107.3
282.3
190.4
63.9
126.5
208.8
151.5
54.7
96.8
220.1
157.7
56 4
101.3
228.1
162.2
57.6
104.6
235.3
168.1
57.3
110.8
247.6
170.5
57.9
112.6
262 2
180.6
59 3
121.4
278.6
187.2
63.4
123.8
287.8
193.5
65.4
128.1
300.5
200.3
67.4
132.8
306.0
205.6
68.5
137.1
325.3
220.1
76.6
143.5
51.5
-10.7
—14.3
68.2
10.2
12 2
91.9
15.6
15.0
57.3
-4.9
—9.0
62.4
11.4
12.7
65.9
15.4
18.8
67.3
14.5
15.2
77.1
-.6
22
81 6
10.3
11 1
91.4
17.0
16.5
94.3
21.9
22.0
100.2
13.1
10.4
100.3
16.7
16.9
105.3
20.1
22.1
109.0
13.6
14.6
112.5
12.4
13.1
20.4
147.3
126.9
7.4
163.2
155.7
-11.1
175.5
186.6
20.9
152.2
131.2
10.4
154.4
144.1
9.7
160.7
150.9
6.9
168.2
161.3
2.8
169.4
166.6
-8.5
170 9
179.4
-5.9
178.1
184.0
-7.0
180.8
187.8
-23.2
172.1
195.2
-24.1
181.7
205.8
-5.5
205.4
210.9
-10.7
210.1
220.8
-6.9
223.5
230.4
338.4
123.1
83.7
215.4
359.5
129 9
86.8
229 6
394.0
145.1
94.3
248 9
351.5
127.9
86.2
223.6
354.0
127.1
85.9
226.9
357. 2
127.8
85.6
229.4
360.4
129.9
86.5
230.5
366.3
134.6
89.1
231.7
375.0
138 3
91.9
236 7
388.8
142.9
93.7
245.9
399.5
146.8
94.4
252.7
412.5
152.2
97.1
260.3
416.7
151.5
97.9
265.2
424.7
147.2
98.6
277.6
439.8
154.0
99.6
285.8
455.6
163.4
102.1
292.2
602.9 1 638.3 1 670.1 1 701.0 1 750.4 1 796 5 1,850.0
741.9
758.0
772.9
718.6
825.8
768.1
8009 2
288.6
312 4
33 2
339.1
301.8
315.6
273.7
456.2
453.4
486.7
455.7
444.9
457.3
468.0
726.4
749.7
766.9
850.0
787.1
808.1
832 3
160.5
191.3
153.0
158.1
160.3
168.7
174.3
, 894.9
844.7
346.5
498.2
875.3
196.8
, 945.0
859.6
347.4
512.2
893.6
204.9
21.9
11.9
10.0
13.1
6.3
6.8
1 539. 6
686.6
259.0
427.5
697.6
144.7
-10.7
—8.9
-1.8
1 689 9 1 871.6
832.6
760.3
341 3
304 6
491.3
455.7
862.8
778 0
161.9
191.8
10.2
5.3
4.9
15.6
8.4
7.2
-4.9
—8.6
3.7
11.4
.1
11.3
15.4
6.5
8.9
14.5
9.3
5.3
-.6
5.2
-5.8
10.3
6 1
4.2
17.0
9.1
7.9
, 975.3 2,067.4 2,122.5 2,198.4
927.3
968. 6
912.2
861.8
380.1
398.0
375.8
351.2
547.2
570.6
536.4
510.6
973.7
999.4
952.0
926.4
235.0
242.8
223.4
203.8
16.7
14.8
1.9
20.1
10.8
9.3
13.6
10.2
3.4
12.4
10.1
2.4
GNP in constant (1972) dollars f
Gross national product, totalf
bil $
1 202.3
1 271 0 1 332 7 1 227.9 1 255.5 1 268.0 1 276.5 1 284.0 1 306 7 1 325.5 1,343.9 1,354. 5 1,354.2
Personal consumption expenditures, total..do...
Durable goods.
do
Nondurable goods
do...
Services
do
774.6
112.7
306.6
355.3
125.9
320.2
373 2
137.8
330.4
389 5
119.7
309.5
361.9
124.8
314.6
366.9
125.2
318.2
370.6
125.3
320.5
375.1
128.5
327.7
380.0
134.9
327.1
384.6
136.2
327.2
386.0
136.9
329.2
391.8
Gross private domestic investment, total...do...
Fixed investment...
do
Nonresidential
do
Residential
do
Change in business inventories
do...
Net exports of goods and services
do...
142.6
173.4
196.3
148.9
168.5
174.7
177.1
173.4
186.1
197.1
201.7
Govt. purchases of goods and services, total-do.._
Federal ._
do
State and local
do
819.4
857.7
791.1
806.3
820.9
836.2
846.6
849.5
858.0
873.5
886.3
895.1
910.0
143.0
338.1
395.6
137.8
333.3
402.4
145.8
336.3
404.2
144.8
340.4
410.0
150.2
346. 6
413.2
200.3
205.7
213.1
210.4
211.1
193.4
133.8
59.5
12.3
200.4
140.5
59.9
12.7
201.4
141.7
59.7
9.0
203.4
143. 5
59.8
7. 7
876.6
192.8
132.5
60.3
7.5
152.4
113.6
38 8
-9.8
166 8
118.9
47 8
6.7
187.4
129.8
57 7
8.9
154.1
111.8
42.3
-5.2
161.0
115.5
45.5
7.5
164.6
117.8
46 8
10.1
167.8
121.0
46.8
9.3
173.6
121.4
52.3
—. 2
180.3
126.8
53.5
5.8
187.1
129.1
58.0
10.0
189.5
130.8
58.8
12.2
22.6
15.4
9.5
22.2
16.5
16.1
16.1
13.1
11.2
11.0
12.5
3.1
2.9
11.3
9.2
11.0
271.7
102.9
168.8
274.5
103.6
170.9
272.1
101.2
170.8
271.9
97.1
174.8
276.7
100.4
176.3
280.1
103.3
176.8
262.6
96 5
166.1
262.8
96 6
166.2
269.2
101 6
167.6
265.7
97 3
168.4
264.3
96 2
168.1
•"Revised.
v Preliminary.
tRevised series. Estimates of national income and product
and personal income have been revised back to 1973 (see p. 16 ff. of the July 1977 SURVEY and
p. 24 fi\ of the July 1978 SURVEY); revisions prior to May 1977 for personal income appear on
814.0
1,382.6 1,391.4 1,412.2
263.2
95 9
167.3
262.5
96 8
165.7
261.3
97 5
163.8
262.8
98 7
164.1
p. 36 of the July 1978 SURVEY.
267.9
101 3
166.6
9 Includes data for items not shown separately.
S-l
SUEVEY
S-2
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1975
1976
CUEKENT BUSINESS
1977
Annual total
1976
1977
III
II
I
January 1979
IV
II
I
GENERAL BUSINESS INDICATORS—Quarterly
1978
III
IV
I
1979
III
II
I
IV v
Series—Continued
NATIONAL INCOME AND PRODUCTf—Con.
Quarterly Data Seasonally Adjusted
Implicit price deflators: t
Gross national product
Index, 1972=100..
Personal consumption expenditures
do
Durable goods
do
Nondurable goods.
_
do—
Services
do
Gross private domestic investment:
Fixed investment
do—
Nonresidential
_
do
Residential
do...
Govt. purchases of goods and services do,..
Federal
..do...
State and local
do...
127.15
126.4
117.7
133.4
123.2
133.76
133.1
124.4
138.2
131.6
41. 61
140.7
129.5
145.0
141.0
.31. 40
130.7
122.0
136.8
128.4
132. 92
132.1
123.6
137.4
130.3
134. 39
133.8
125.0
138.7
132.5
136. 28
135.6
126.8
139.9
134.9
138. 27
137.9
128.4
142.4
137.4
140. 86
139.9
128.9
144.7
139.7
142. 63
141.6
129.5
145.7
142.3
144. 56
143.2
130.9
147.0
144.4
147.10
146.2
133.1
150.4
147.1
.50. 98
149.3
135.7
154.4
149.9
153.52
151.6
137.3
156.2
152.6
.56. 54
154.1
139.5
158.9
155.3
132.3
132.2
132.8
139.6
138.4
142.5
150.6
146.7
159.4
136.7
136.6
137.2
138.5
137.7
140.7
140.3
138.9
143.8
142.6
140.5
147.6
145.4
142.5
152.3
148.9
145.0
157.6
151.9
147.9
160.6
155.9
151.2
166.1
158.2
153.6
168.6
162.2
156.7
175.7
167.1
160. 6
182.6
170.8
163. 7
187.9
128.9
127.5
129.7
136.8
134.4
138.1
146.3
142.7
148.5
134.0
132.1
135.0
135.7
133.3
137.1
137.3
134.2
139.1
140.2
138.0
141.5
142.7
140.1
144.3
145.1
141.1
147.6
147.1
142.7
149.7
150.3
146.9
152.3
153.2
149.6
155.2
156.2
151.5
158.8
158.9
153.4
162.1
162.7
158.2
165.2
National income, total t
bil. $.. 1,215.0 1,359.2
931.1 1,036.8
Compensation of employees, total.
__do_..
805.9
890.1
Wages and salaries, total.
._.do_-.
175.4
187.6
Govt. and govt. enterprises
do...
702.5
630.4
Other
do...
146.7
125.2
Supplements to wages and salaries
do...
Proprietors' income with inventory valuation
and capital consumption adjustments,
87.0
88.6
total
bil. $..
23.5
18.4
Farm___
_
do—
63.5
70.2
Nonfarm
do
Rental income of persons with capital consump22.4
22.5
tion adjustment
_
bil. $..
Corp. profits with inventory valuation and capi95.9
127.0
tal consumption adjustments, total
bil. $.
Corp. profits with invent, val. adj.:
133.2
101.8
Domestic, total
do
17.5
13.0
Financial
do
88.9
115.6
Nonfinancial, total 9
do
48.3
65.6
Manufacturing, total 9
do—
18.3
28.1
Durable goods..
do
Transportation, communication, and
9.2
13.7
electric, gas, and sanitary serv bil. $..
6.1
Rest of the world-.
do—
8.2
515.3
319.8
347.9
,372.1
397.0
, 447. 5
499.3
,537.6
, 576. 9
603.1
,688.1
1,728.4
153.4
983.6
200.8
782.9
169.8
001.7
861.7
183.7
678.0
140.0
026.0
881.5
186.1
695.4
144.6
, 046.1
897.3
188.1
709.2
148.8
, 073. 3
919.9
192. 6
727.2
153.4
, 107.9
946.4
195.2
751.2
161.5
140.5
973.4
198.1
775.3
167.1
, 165. 8
993.6
201.7
791.9
172.2
, 199. 7
,021.2
208.1
813.1
178.4
241.0
050.8
211.4
839.3
190.2
,287.8
,090.2
213.9
876.3
197.6
1,317.1
1,113.4
216.8
896.6
203.6
358.9
148.5
222.2
926.3
210.4
Quarterly Data Seasonally Adjusted at Annual
Profits before tax, total
Profits tax liability
Profits after tax
Dividends
Undistributed profits..
Inventory valuation adjustment
Capital consumption adjustment
Net interest
Rates
do..
do..
do..
do..
do..
do..
do..
do..
99.8
20.2
79.5
20.9
67.7
88.8
19.6
69.3
87.4
16.9
70.5
89.5
16.3
73.2
95.6
19.4
76.1
98.9
20.0
78.9
97.2
16.5
80.8
107.3
25.1
82.3
105.0
21.9
83.1
110.1
24.0
86.1
114.5
25.0
89.6
121.9
29.5
92.4
22.5
22.5
22.4
22.4
22.8
22.5
22.4
22.4
22.7
22.8
22.2
24.3
24.4
144.2
126.8
128.6
130.0
122.5
129.9
143.7
154.8
148.2
132.6
163.4
165.2
149.5
20.9
128.6
74.7
35.1
132.3
15.8
116.4
67.0
27.4
135.4
17.0
118.4
67.5
29.7
136.3
18.3
118.0
65.9
28.5
128.7
19.1
109.7
61.9
26.9
134.8
19.7
115.1
66.4
29.9
148.1
19.9
128.1
77.4
37.2
159.5
21.9
137.6
74.7
34.2
155.6
21.9
133.7
80.2
39.1
139.2
22.7
116.6
69.8
32.8
168.9
24.3
144.6
87.8
46.1
175.4
26.0
149.4
87.1
44.6
16.1
9.6
12.4
8.9
14.3
14.9
13.3
15.4
8.2
9.7
17.5
10.3
17.3
8.2
14.5
10.4
17.1
7.6
7.9
9.4
19.3
11.7
20.7
9.1
120.4
49.8
70.6
31.
38.7
155.9
64.3
91.7
37.9
53.8
173.9
71.8
102.1
43.7
58.4
152.6
63.6
89.0
34.5
54.5
158.7
66.3
92.4
37.2
55.2
157. 8
64.7
93.1
38.4
54.7
154.6
62.4
92.2
41.4
50.8
164.8
68.3
96.5
41.5
55.0
175.1
72.3
102.8
42.7
60.1
177.5
72.8
104.8
44.1
60.6
178.3
73.9
104.4
46.3
58.1
172.1
70.0
102.1
47.0
55.1
205.5
85.0
120.5
48.1
72.4
205.4
86.2
119.2
50.1
69.2
-12.4
-12.0
78.
-14.5
-14.4
84.3
-14.8
-14.9
95.4
-11.4
-14.4
80.1
-15.7
-14.4
82.0
-13.3
-14.5
86.2
-17. 6
-14.5
88.9
-20.3
-14. 6
91.7
-16.6
-14.8
93.7
-7.7
-15.0
97.3
-14.8
-15.3
99.0
-23. 5
-16.1
101.7
-24.9
-17.2
104.6
-20.9
-19.3
107.4
DISPOSITION OF PERSONAL INCOMEt
Personal income, total
bil. $. 1, 255. 5 1,380.9 529. 0 ,336.9 1, 363. 2 1, 392. 8 1,430.5 1, 470. 7 1, 508.6 1, 543. 7 1, 593. 0 1,628.9 1,682.4 1,731.7
263.2
249.1
226.0
184.4
168.8
196.5
192.6
200.0
209.0
222.7
223.3
224.6
233.3
237.3
Less: Personal tax and nontax payments
do.
303.0 1,152. 5 1,170. 6 1,192.8 1,221. 5 1,248.0 1,285. 3 1,319.1 1,359.6 1,391. 6 1,433.3 1,468.4
1,086.7 1,184.4
Equals: Disposable personal income
do
Less: Personal outlays®.
do... 1,003.0 1,116.3 236.1 1,078.9 1,100. 7 1,124.8 1,160. 9 1,195.8 1,217.8 1,244.8 1,285.9 1,309. 2 1,357.0 1,392.5
76.3
76.0
66.9
73.6
83.6
68.0
Equals: Personal saving§-.
do...
69.9
68.1
60.7
52.2
67.5
74.3
73.7
82.4
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
bil. $. 112.78 120.49 135.80 25.87 29.70 30.41 34.52 29.20 33.73 34.82 38.06 32.35 37.89 38.6'
60.16
10.96
52.48
47.95
16.76
16.89
Manufacturing
do_.
12.66
13.48
15.38
12.52
14.84
15.60
17.19
13.67
27.7'
23.68
4.78
21.84
7.79
7.97
Durable goods industries^
do..
5.61
6.02
7.27
5.80
6.79
7.17
8.00
6.36
32.39
28.81
26.11
6.18
8.92
8.97
Nondurable gcods industries^
do..
7.05
7.46
8.12
6.72
8.06
8.43
9.18
7.31
20.87
75.64
16.93
14.91
17.04
19.14
64.82
18.88
16. 68
68.01
19.21
21.13
18.68
21.78
Nonmanufacturing
_..do..
4.50
.92
3.79
1.22
4.00
.99
1.24
Mining...
...do..
1.04
1.05
1.02
1.16
1.17
1.15
1.07
2.80
.49
.68
.64
.70
.67
.76
2.55
2.5!
.59
.84
.78
.71
Railroad
do..
.26
1.62
1.30
1.84
.54
.42
.26
.35
.33
.43
.39
.46
.52
Air transportation
do..
.72
2.51
3.63
.95
.94
.63
.62
3.18
.61
.76
.60
.50
.51
Other transportation
do_.
1.02
4.79
4.18
.62
2.92
4.82
5.50
4.74
5.52
4.54
3.21
5.21
do.
do.
._ _do.
do.
114.72
49.21
21.63
27.58
.do.
do.
do.
do.
do.
65.51
3.83
2.08
1.18
3.29
25.80
21.59
4.41
15.45
22.97
6.61
5.41
1.20
4.03
5.73
7.28
6.06
1.21
4.26
6.33
6.15
5.27
3.30
5.27
6.37
5.34
1.03
3.86
5.64
125.22
54.44
25.50
28.93
130.16
56.43
26.30
30.13
134.24
59.46
27.26
32.19
140. 38
63.02
29.23
33.79
67.76
4.21
2.69
1.12
3.44
70.78
4.13
2.63
1.41
3.49
73.74
4.24
2.71
1.62
2.96
74.78
4.49
2.57
1.43
2.96
21.67
18.22
3.45
13.64
20.99
23.46
19.49
3.96
14.30
21.36
25.35
21.19
4.16
14.19
22.67
25.29
21.14
4.16
15.32
22.73
5.55
4.78
3.33
5.19
6.46
5.34
1.12
3.84
5.78
118.12
50.64
22.54
28.09
122.55
54.78
24.59
30.20
67.48
3.83
2.64
1.44
4.16
21.85
21.91
Public utilities
do.
18.56
Electric
do.
18.82
3.36
Gas and other
do.
3.03
12.54
Communication
do.
12.62
20.68
Commercial and other
do.
20.94
r
Revised.
v Preliminary.
i Estimates (corrected for systematic biases) for Oct.Dec. 1978 and Jan.-Mar. 1979 based on expected capital expenditures of business.
Expected
expenditures for the year 1978 appear on p. 18 of the Dec. 1978 SURVEY. 2 Includes communication.
fSee corresponding note on p. S-l.
9 Includes data for items not shown
separately.
©Personal outlays comprise personal consumption expenditures, interest paid
Public utilities. __
Electric
Gas and other
Communication
Commercial and other
Seas. adj. qtrly. totals at annual rates:
All industries.
Manufacturing...
Durable goods industries^
Nondurable goods industries^
Nonmanufacturing
Mining. _
Railroad
Air transportation
Other transportation...
do..
do..
do..
do.
do.
20.14
17.00
3.14
12.74
20.60
22.28
18.80
3.4'
13.30
20.99
.76
.98
.77
51.9
-27.8
-19.9
110.8
,786.4
275.0
,511.4
, 439.2
72.
44.18
20.32
9.62
10.70
1
36.85
16.22
7.57
8.65
23.86
1.32
.84
.70
.67
20.63
1.18
.86
.59
.62
8.46
7.21
1.25
6.79
5.99
.81
3.97
5.76
7.14
6.01
1.13
4.56
6.18
7.43
6.11
1.32
4.68
6.43
138.11
61.41
28.19
33.22
144. 25
61.57
28.72
32.86
150.76
67.20
31.40
35.80
155.4:
67.75
32.25
35.50
163.34
73.02
34.13
38.89
77.36
4.74
3.20
1.69
1.96
76.70
4.50
2.80
1.76
2.32
82.68
4.45
3.35
2.67
2.44
83.56
4.81
3.09
2.08
2.23
87.66
4.99
3.38
2.2i
2.4
90.31
4.94
4.05
3.05
2.99
26.22
21.90
4.32
16.40
23.14
26.23
22.0o
4.18
15.82
23.27
27.92
23.15
4.78
17.07
24.76
28.46
23.83
4.62
18.18
24.71
29.62
24.92
4.
18.9C
26.
30.70
26.31
4.38
.88
210. 58
2 44.07
2
44.59
by consumers to business, and personal transfer payments to foreigners (net).
§Personal saving is excess of disposable income over personal outlays.
IIData for individual durable and nondurable goods industries components appear in the
Mar., June, Sept., and Dec. issues of the SURVEY.
SURVEY OF CUKEENT BUSINESS
January 1979
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1975
1976
1975
1977
Annual total
IV
S-3
1976
I
II
1978
1977
III
IV
I
II
IV
I
II
III
47,131
31,009
45,050
29,461
48,221
30,664
53,976
35,067
55,559
1,918
8,220
5,984
1,547
7,997
6,045
1,842
9,381
6,334
2,217
10,003
6,689
1,889
9,946
6,794
III
IV
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
U.S. INTERNATIONAL TRANSACTIONS
Quarterly Data Are Seasonally Adjusted
(Credits + ; debits - )
Exports of goods and services (excl. transfers under
military grants)
mil. $..
Merchandise, adjusted, excl. military
do
Transfers under U.S. military agency sales contracts
mil. $..
Receipts of income on U.S. assets abroad.-.do
Other services
do
Imports of goods and services
do
Merchandise, adjusted, excl. military.
do
Direct defense expenditures
do
Payments of income on foreign assets in the
U.S..
.mil. $_
Other services
do
155,656
107,088
171,274 183, 205 40,760 40,375
114,694 120,676 27,657 27,001
3,919
25,359
19,290
5,213
29,244
22,124
7,079
32,100
23,451
1,164
6,884
5,055
1,095
7,027
5,252
42,449 44,160 44,291
28,380 29,602 29,711
1,189
7,369
5,511
1,472
7,428
5,658
1,457
7,420
5,703
44,751 46,276
29,477 30,629
1,912
7,796
5,566
1,702
8,088
b,857
-132,595 -161,913 193, 789 -34,131 -37,644 -39,268 -41,933 -43,068 -46,381 -47,716 -48,740 -50,953 -53,797 -55,761 -58,116
-98,041 -124,047 151,706 -25,431 -28,352 -29,963 -32,418 -33,314 -36,502 -37,263 -38,277 -39,664 -41,865 -42,869 -44,975
-4,795 -4,901 -5,745 -1,198 -1,159 -1,219 -1,235 -1,288 -1,344 -1,407 -1,451 -1,542 -1,632 -1,625 -1,712
-12,564 -13,311 -14,593 —2,973 -3,405 -3,332 -3,293 -3,281 -3,197 -3,601 -3,610 -4,185 -4,503 -5,420 -5,396
-17,194 -19,655 -21,746 -4,529 -4,728 -4,754 -4,987 -5,185 -5,337 -5,445 -5,401 -5,563 -5,796 -5,847
Unilateral transfers (excl. military grants), net
mil. $_
U.S. Government grants (excl. military)...do
Other
do...
-4,615
-2,894
-1,721
U.S. assets abroad, net
do
U.S. official reserve, net
do
U.S. Gov't, other than official reserve, net...do
U.S. private, net
do
Direct investment abroad
do...
-39,444 -50,608 -34,650
-607 -2,530
-231
-3,470 -4,213 -3,679
-35,368 -43,865 -30,740
-14,244 -11,614 -12,215
-5,022 -4,708
-3,145 -2,776
-1,878 -1,932
-1,241
-805
-1,028 -1,040 -1,908 -1,047
-546
-592 -1,440 -567
-482
-468
-480
-448
14,179 -12,365 -11,740
89
-773 -1,578
-977
-762
-932
13,291 -10,830 -9,230
4,736 -3,923 -2,047
-10,269 -16,235
-407
228
-1,340 -1,180
-8,522 -15,283
-3,081 -2,563
Foreign assets in the U.S., net
Foreign official, net
Other foreign, net
Direct investment in the U.S
do
.do
do
do
15,550
6,907
8,643
2,603
36,969
18,073
18,897
4,347
50,869
37,124
13,746
3,338
6,177
2,851
3,326
1,369
7,590
3,819
3,771
1,472
7,914
4,017
3,897
1,086
3,070
5,862
999
12,534
7,166
5,367
790
Allocations of special drawing rights
Statistical discrepancy
.do.
do.
5,449
9,300
-927
2,614
3,073
1,685
1,018
3,525
9,047
23,060
21,339
18,445
-9,353
9,361
7,483
4,339
-31,130
-10,585
-12,516
-15,292
2,226
6,629
6,193
5,388
1,126
-636
-490
1,334
-388
-949
3
2,177
-1,243 -1,277 -1,064 -1,282
-778
-763
-591
-787
-504
-473
-490
-12,003 -6,615 -14,700 -15,036
246
151
6
-896
-795 -1,098
-11,214 -5,668 -13,862 -14,386
-3,729 -3,113 -3,197 -4,945
2,490 14,064
5,451 7,884
2,962 6,180
880
1,600
14,251
8,246
6,005
1,012
20,065
15,543
4,522
450
622 - 4 , 751
1,602
-1,317 -1,267
-781
-774
-536
-493
-6,134 -11,006
180
329
-1,176 -1,494
-5,287 -9,692
-2,363
18,095
406
15,760 -5,685
2,336
6,090
812
1,852
14,612
4,904
9,708
1,793
218
3,798
Memoranda:
Balance
Balance
Balance
Balance
on merchandise trade.
.do
on goods and services
do
on goods, services, and remittances..do
on current account
do
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
Annual
-1,351 -1,583
2,731 3,181
2,249 2,733
1,703 2,141
-2,816 -3,603
2,227 1,223
743
1,759
319
176
-7,025 -6,634 -7,268 -10,203
-1, 630 -1,440 -1,609 -5,903
-2,120 1,920 -2,099 -6, 376
-2, 756 -2, 683 -2,886 -6,967
-7,802
-1,785
-2,321
-3,102
-8,045
-2,557
-3,050
-3,824
Sept.
Oct.
Nov.
1978
1977
Nov.
-11,201
-5,576
-6,080
-6,858
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Dec.
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME BY SOURCEf
Seasonally adjusted, at annual rates:t
Total personal income
bil.
1,380.9
1,529.0
1,592.7 1,609.2 1,615.5 1,625.0
1,682.1 1,695.7 1,719.2 h 731.1 1,744.7 1,768.4 1,785.9 1,804.8
1,646.3
1,088.4 1,098.4 1,108.2 1,111.3 1,120.1 1,137.5 1,149.2 1,158.8
416.6
404.5 "411.5
395.7
98.2
395.4
390.9
386.2
' 308.8 " 314.5 317.6
301.0
301.6
298.1
295.9
271.0
274.1 '277.8 " 279.8 281.9
268.3 269.8
266.1
Wage and salary disbursements, total
do
C ommodity-producing industries, total.do.
M an ufacturing
-do.. ~ _
Distributive industries
-do__^~
890.1
307.5
237.5
216.4
983.6 1,022.3 1,027.3 1,038.3 1,047.4 1,066.6 1,083.9
383.9
343.7
358.3
359.0
364.4
374.3
358.2
294.3
281.9
292.4
266.3
277.1
286.5
280.5
253.3
261.3
239.1
264.9
247.4
256.2
249.5
Service industries
Govt. and govt. enterprises
Other labor income
Proprietors' incometA
Farm
Nonfarm
do
do_
do
178.6
187.6
77.0
200.1
200.8
90.4
208.3
208.4
96.1
210.3
209.2
97.3
215.3
210.6
98.7
215.1
211.6
100.0
219.0
212.0
101.3
222.2
213.0
102.7
222.0
213.9
104.0
224.3
214.9
105.4
227.2
215.8
106.7
228.0
216.7
107.9
230.3
217.5
109.1
do
do
18.4
70.2
20.2
79.5
24.6
82.2
28.5
83.2
25.6
82.0
21.5
83.0
18.6
84.4
22.0
85.5
24.8
86.1
25.3
86.7
24.0
88.4
24.9
90.1
26.0
90.2
22.5
43.7
141.2
208.8
22.6
45.5
145. 5
216.5
22.9
48.3
147.3
217.2
23.0
46.8
149.6
218.1
22.8
47.0
151.4
219.0
22.6
47.2
153.3
220.3
22.3
47.4
154.8
219.7
22.1
48.0
156.5
221.3
22.1
49.0
157.6
220.8
24.3
49.2
159.6
229.0
24.3
50.3
161.9
230.8
24.2
50.7
163.6
231.5
Rental income of persons, with capital consumption adjustment.
bil. $
22.5
Dividends..
do
37.9
Personal interest income.
.do
126.3
Transfer payments
do
193.9
Less personal contributions for social insurance
bil. $ . .
55.5
Total nonfarm income
...do
1,349.5
68.0
61.0
67.0
66. 5
62.8
1,494.4 1,553.1 [, 565.5 1,574.7 1,588. 3 1,612.5
•234.2 "235.5
221.0 "222.4
110.4
111.8
236.9
223.3
113.1
"28.2
"92.4
33.3
92.8
'27.1
••92.0
24.4
24.3
"51.3 "51.8
• 165.1 "166.3
232.2 " 233.9
24.4
52.6
167.5
234.8
72.4
70.4
70.8 "71.6 "72.0
70.3
69.6
69.0
68.9
1,631.9 1,641.8 1,654.7 1,679.0 1, 690.3 1, 702.6 "1,725.1 1,741.4 1,755.1
FARM INCOME AND MARKETING!
Cash receipts from farming, including Government
payments, totalj..
mil. $ . .
Farm marketings and CCC loans, total
do
Crops
do
Livestock and products, total 9
do
Dairy products
do
Meat animals
do
Poultry and eggs
.do
Tndexes of cash receipts from marketings and CCC
loans, unadjusted\\
All commodities.
1967=100..
Crops
do
Livestock and products
do
95,060
1
96,889
10,573
9,883
9,162
7,407
7,377
7,730
8,403
7,417
8048
7,342
3,680
3,662
1,058
1,764
791
7,991
3,257
4,734
1,051
2,910
728
206
240
180
254
282
233
11,425
27,188
7,192
i 95,025
i 47,572
'47,453
i1 11,782
27,909
17,207
10,469
6,356
4,113
959
2,528
587
8,853
4,725
4,128
1,007
2,480
584
8,807
4,877
3,930
1,008
2,336
543
6,873
2,858
4,015
944
2,492
538
7,256
2,402
4,854
1,064
3,098
652
7,079
2,429
4,750
1,076
2,883
640
7,580
2,686
4,794
1,108
3,161
571
8,339
3,571
4,768
1,046
2,973
697
220
260
190
222
258
195
293
414
202
248
308
203
240
297
197
192
181
201
205
178
226
199
156
232
217
181
244
235
232
235
94,326
47,937
Indexes of volume of farm marketings, unadjusted:!
All commodities
1967=100
133
124
121
169
139
Crops
do..I.
138
134
238
172
172
Livestock and products
do
113
111
120
116
106
" Revised.
v Preliminary.
i Reported annual total; revisions are not reflected in the
monthly data.
* Less than $500,000(±).
fSee corresponding note on p. S-l.
Alncludes inventory valuation and capital consumption adjustments.
{Series revised begin-
7,038
10,457
13,224
r
10,229 12,949 11,600
5,414 " 7,299 6,300
4,815 " 5,650 5,300
1,016
1,011
3,160 3,924
556
127
113
110
102
101
100
96
150
124
113
86
98
86
75
110
104
109
113
103
111
111
ning 1973; revisions for periods prior to May 1976 are available
Economic Research Service.
9 Includes data for items not shown separately.
262
293
2S8
468
278
324
405
263
129
149
114
172
239
124
157
214
117
from the U.S. Dept. of Agr.f
S-4
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1978
1977
1977
Annual
January 1979
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov. v Dec*
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION^1
Federal Reserve Board Index of Quantity Output
Not Seasonally Adjusted
Total index
By market groupings:
Products, total
Final products
Consumer goods...
Durable consumer goods
Nondurable consumer goods
Equipment
Intermediate products
Materials
By industry groupings:
Mining and utilities
M anufacturing.
Nondurable manufactures
Durable manufactures
1967=100..
129.8
137.1
139.5
134.9
134.8
139.6
141.4
144.2
144.2
148.8
141.9
146.9
152.0
152.5
149.7
144.9
do
do
do
_..do
...do
...do
do
do
129.3
127.2
136.2
141.4
134.1
114.6
137.2
130.6
137.1
134.9
143.4
153.1
139.6
123.2
145.1
136.9
139.5
136.9
144.4
157.6
139.1
126.6
149.0
139.4
133.8
131.1
135.8
144.4
132.4
124.6
144.1
136.5
133.5
131.0
136.7
142.7
134.3
123.1
142.5
137.0
139.0
136.6
143.4
155.7
138.5
127.1
148.0
140.6
141.0
138.6
145.3
162.4
138.4
129.3
150.3
142.1
143.2
140.7
148.4
169.7
140.0
130.1
152.6
146.1
142.1
138.9
145.2
163.7
137.7
130.4
153.8
147.0
148.2
145.1
152.1
167.6
146.0
135.6
159.9
149.7
141.7
138.2
142.5
143.9
142.0
132.2
154.8
142.2
147.0
143.4
149.7
146.7
150.9
134.6
160.3
146.8
153.3
150.6
158.4
166.1
155.3
139.7
163.4
149.8
152.3
149.3
156.6
173.9
149.6
139.3
163.1
152.8
148.3
145.1
149.5
164.9
143.4
139.1
160.3
151.9
141.8
138.8
140.4
150.5
136.4
136.8
152.7
150.1
do
131.6
136.2
132.9
135.0
142.0
139.9
136.3
137.0
136.4
142.4
145.5
147.2
144.5
141.5
141.8
144.6
133.9
142.8
127.8
139.6
148.7
133.2
142.1
150.5
136.3
145.1
153.3
139.5
145.1
153.5
139.2
149.7
159.3
143.0
141.2
150.3
135.1
146.9
160.3
137.7
153.0
164.2
145.3
154.0
163.6
147.4
150.9
159.2
145.3
144.9
150.6
141.1
...do
do
do
129.5
140.9
121.7
137.1
148.1
129.5
140.3
151.0
132.9
134.8
143.0
129.2
129.8
137.1
139.3
139.7
138.8
139.2
140.9
143.2
143.9
144.9
146.1
147.1
'147.8
148.6
149.5
150.4
129.3
127.2
136.2
137.1
134.9
143.4
139.5
137.0
145.2
140.3
137.6
145.8
138.5
134.9
141.8
139.6
136.4
143.8
141.6
138.9
145.9
143.0
140.5
147.5
143.1
140.5
147.0
144.0
141.1
147.0
145.0
142.2
147.7
146.2
143.3
148.4
'146.5
143.7
149.0
146.8
143.9
149.1
147.8
144.8
149.8
148.8
145.6
150.5
141.4
154.8
149.8
132.0
167.6
153.1
174.2
169.2
148.4
186.8
155.2
173.6
167.6
147.5
188.7
155.8
172.4
165.5
143.6
190.4
146.5
157.5
145.5
127.4
187.8
151.2
162.8
153.9
131.5
185.3
157.5
175.8
171.0
149.7
188.5
161.8
184.3
182.7
159.1
188.2
160.2
180.0
175.6
151.6
191.5
160.6
179.9
174.3
149.8
193.9
160.9
182.2
176.7
152.7
196.1
161.5
182.1
175.6
151.1
198.0
160.3
178.3
170.0
144.4
199.8
162.0
186. 2
181.3
155.0
199.1
162.6
189.6
185.7
159.8
199.5
162.8
186.3
180.9
151.9
200.0
Home goods
do.
Appliances, air cond., and TV...do.
Carpeting and furniture
do_
Nondurable consumer goods
do.
Clothing
do.
Consumer staples.
do.
Consumer foods and tobacco
do.
Nonfood staples
do.
133.9
114.6
144.1
141.3
127.3
152.2
145.0
131.4
160.0
146.6
132.8
161.5
140.3
116.1
159.1
144.6
133.3
160.2
147.2
135.4
159.3
149.2
142.2
158.9
148.9
138.3
163.4
149.7
139.0
166.0
148.9
133.7
168.5
150.0
133.9
167.9
«" 150.2
134.4
169.0
148.5
128.7
169.3
147.6
124.1
169.4
149.6
127.9
134.1
124.0
136.9
130.7
144.1
139.6
125.2
143.6
135.5
152.9
141.2
126.4
145.3
136.7
155.1
141.8
126.9
145.9
137.9
155.2
139.9
118.3
145.9
136.5
156.6
140.8
121.1
146.3
138.3
155.8
141.3
122.4
146.4
138.7
155.3
141.8
124.9
146.6
140.8
153.3
141.7
125.4
146.2
139.9
153.4
141.6
124.8
146.3
139.0
154.8
142.4
125.1
147.3
140.2
155.5
143.1
126.6
147.8
140.8
155.9
144.4
128.9
148.8
141.2
157.4
144.0
128.3
148.3
140.0
158.0
144.8
145.5
148.9
140.9
158.4
~149~9~
Equipment
do..
Business equipment
do..
Industrial equipment 9
do.
Building and mining equipment-do..
M anufacturing equipment
do.
114.6
136.3
128.0
177.7
106.5
123.2
149.2
138.5
202.5
113.9
125.8
153.5
142.6
206.7
118.7
126.2
154.0
143.0
208.3
118.2
125.4
152.6
144.3
211.1
118.8
126.2
154.2
144.6
214.9
117.7
129.1
157.4
146.9
221.7
118.3
130.8
159.3
147.8
225.1
119.0
131.6
160.2
149.7
226.0
121.3
133.0
161.8
150.9
227.3
122.8
134.7
163.8
151.9
228.9
122.6
136.3
165.4
152.8
228.1
123.9
136.4
165.8
152.7
226.3
124.4
136.9
166.9
153. 2
227.1
125. 3
137.7
167.9
152.9
225.0
125.1
138.8
169.3
153.4
224.2
126.0
Commercial, transit, farm eq. 9 ...do..
Commercial equipment.
.do.
Transit equipment..
do.
145.8
173.5
104.1
161.6
191.6
117.8
165.9
197.4
118.9
166.9
198.8
121.1
162.2
198.5
111.1
165.5
200.9
115.9
169.4
202.0
126.1
172.6
203.8
133.7
172.3
204.2
132.2
174.4
206.9
132.3
177.5
210.6
134.9
179.9
212.2
138.5
180.8
214.1
138. 6
182. 7
215.1
• 142.3
185.3
216.8
146.1
187.8
219.3
149.5
Seasonally Adjusted
Total index
...1967=100..
By market groupings:
Products, total
.do
Final products
do
Consumer
goods
do
Durable consumer goods
do..
Automotive products
...do..
Autos and utility vehicles
do.
Autos
.do.
Auto parts and allied goods.
do..
159.4
78.4
79.6
79.3
79.5
79.7
79.2
81.9
82.9
83.6
84.6
85.9
87.1
87.1
• 86.7
87.1
87.6
137.2
132.6
141.8
145.1
140.8
149.5
148.4
146.5
151.6
149.2
153.8
151.4
148.6
154.2
151.4
147.9
155.0
152.1
148.5
155.6
152.6
150.4
155.0
154.7
152.1
157.0
155.6
153.5
157.6
156.4
154.7
158.2
157.0
155.6
158.4
158.1
156. 6
' 159. 6
159.2
157.7
160.7
160.5
159.1
150.1
150.4
148.3
152.6
130.6
126.8
121.6
133.9
146.3
151.1
120.2
136.9
134.5
132.0
143.1
153.5
158.3
122.4
139.0
137.2
136.5
147.2
155.4
159.3
123.0
138.8
138.7
135.7
149.2
155.3
159.3
118.7
139.2
138.2
133.0
148.7
155.0
160.7
122.2
138.6
137.0
131.1
146.6
158.5
162.8
117.7
139.9
138.6
133.1
151.3
160.5
165.7
117.5
143.7
142.7
136.8
154.8
162.0
166.4
123.9
145.1
143.9
137.9
155.8
163.5
167.9
125.2
146.4
145.4
138.7
157.4
164.1
168.8
127.5
147.9
148.7
142.0
161.7
162.5
168.3
127.9
148.6
150.4
142.2
162.9
162.7
167.0
127.0
149.7
152.1
144.8
164.6
164.4
170. 0
126. 0
151.3
153. 7
147.3
• 166. 0
• 165.4
• 170. 5
128.1
152.2
154.6
147.3
167.3
166.5
171.4
128.6
152.9
155.8
148.3
168.9
166.8
171.4
129.2
do.
do.
do.
do.
131.6
114.2
122.8
117.2
136.2
117.8
105.4
118.0
135.5
118.8
84.8
140.6
133.9
113.4
104.3
74.6
137.4
115.0
121.4
54.8
137.7
114.4
119.9
56.5
138.2
119.3
127.6
78.4
140.9
127.2
122.3
129.5
140.9
126.7
120.0
131.7
142.5
128.0
121.1
136.4
142.6
127.1
117.0
131.7
142.5
126.0
117.9
124.9
142. 1
r 124.1
r 115. 6
114.7
144.1
127.7
122.1
144.0
144.2
127.9
125.3
145.6
144.7
128.0
do..
do..
do..
do..
112.0
92.2
109.5
118.3
118.0
92.4
110.4
124.9
117.8
92.9
107.1
127.2
118.4
93.4
109.6
126.5
121.1
96.9
108.8
130.0
120.4
92.7
108.7
129.1
123.3
94.0
109.9
128.2
127.3
99.4
107.6
128.9
126.3
95.4
112.2
130.1
127.1
97.3
113.2
130.7
126.8
97.8
112.6
131.3
126.2
97.7
110.5
131.6
' 124.9
r 97.6
106.0
r 133.8
124.7
97.4
124.5
97.2
124.2
• 134. 0
133.3
151.0
167.6
156.5
175.5
154.2
173.3
156.7
175.9
162.3
183.6
163.5
184.3
159.5
178.8
156.0
175.0
157.0
177.1
158.6
180.1
159.9
182.1
160.8
183.2
r 162.3
r 184.4
1
162.4
162.6
163.3
129.5
140.9
132.3
111.2
113.8
156.7
137.1
148.1
137.9
114.0
117.4
167.6
139.9
150.1
139.4
114.8
119.9
168.4
140.5
150.9
140.4
111.6
119.2
167.6
138.7
149.8
139.3
109.2
119.0
174.5
139.4
150.6
140.8
117.9
118.7
176.0
141.4
151.4
141.1
113.8
119.7
172.6
143.5
153.2
143.1
116.1
119.8
181.1
144.3
154.0
142.8
113.6
118.9
177.8
145.5
154.9
141.8
111.4
119.4
175.7
146.7
155.0
142.9
115.2
119.8
185.3
147.6
155.6
144.0
115.2
120.6
186.7
r 148.7
* 157.1
r 144.4
113.4
121.5
r 185.7
r 149.4
r 157. 5
r 143.5
112.8
122.5
' 183. 9
150.3
158.1
144.1
114.2
123.2
185.2
151.2
158.9
117.9
136.4
122.2
133.0
114.3
137.1
124.2
137.4
117.5
141.6
125.1
137.8
120.6
143.7
125.8
138.6
113.4
137.1
118.6
139.9
117.7
136.4
121.1
143.9
115.6
135.1
122.8
144.9
121.0
138.1
126.1
145.7
120.2
138.5
125.8
146.6
122.7
140.4
126.8
148.0
120.8
141.0
124.5
140.5
118.6
139.5
127.2
141.9
119.0
120.6
142.1
«• 142.2
130.6
' 130.9
r 142.3 r 145.8
145.3
146.2
120.6
169.3
158.6
124.7
180.7
165.3
126.2
183.1
164.3
127.5
183.0
164.1
129.9
184.4
165.1
128.3
183.7
163.0
129.1
185.2
167.3
128.6
185.5
171.0
128.2
188.1
174.9
128.7
191.1
178.7
130.3
192.3
174.5
129.5
192.2
177.3
131.0 r 130. 3
* 194.2 r 195. 8
* 179.2 r 176. 2
131.9
196.8
179.5
132.9
139.3
139.7
140.5
141.0
133.1
Petrolenm products
do
238.7
238.5
240.1
232.2
200.2
Rubber and plastics products.
do...
74.5
78.1
77.3
75.3
Leather and products
do...
r
Revised.
» Preliminary.
i Estimated.
c? Monthly revisions back to 1967 will be
shown later; effective Sept. 1977 SURVEY, indexes revised to reflect more up-to-date information.
9 Includes data for items not shown separately.
139.0
240.0
73.0
140.1
243.1
72.1
141.7
249.1
76.0
143.4
252.7
75.7
142.8
255.5
75.1
144.3
259.1
74.5
144.1
261.1
74.0
' 147.1
' 263.1
r 74.1
r 146. 7
'264.1
73.8
147.2
263.7
74.5
149.0
Defense and space equipment
Intermediate products
Construction supplies
Business supplies
Materials
Durable goods materials 9
Durable consumer parts
Equipment parts..
Nondurable goods materials 9
Textile, paper, and chemical
Energy materials
By industry groupings.
Mining and utilities
Mining
Metal mining
Coal
Oil and gas extraction 9
Crude oil
Natural gas
Stone and earth minerals
Utilities...
Electric
M anufact uring.
_
Nondurable manufactures.
Foods 9
Meat products
Dairy products
Beverages
Tobacco products
Textile mill products
Apparel products
Paper and products
Printing and publishing...
Chemicals and products
Basic chemicals
do
.do.
.do.
do.
do.
.--do.
do.
...do.
.do.
do.
do.
do.
do.
.do..
do..
do._
do_.
do_.
do_.
do..
do..
do..
do..
do..
do..
do.
147.2
143.0
NOTE FOR P. S-5:
. ^
O Revised back to Jan. 1975 to reflect corrections in reporting errors m the machinery industry, and corrections in classifications in the aircraft and machinery industries; revisions
prior to Apr. 1976 are available from the Bur. of the Census. Wash., D.C. 20233.
CUERENT BUSINESS
January 1979
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
1978
1977
Nov.
Annual
S-5
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov. v
Dec*
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION*— Continued
Federal Reserve Board Index of Quantity
Output— Continued
Seasonally Adjusted—Continued
By industry groupings—Continued
Manufacturing—Continued
Durable manufactures
Ordnance, pvt. and govt
Lumber and products
Lumber
1967=100.
do___
do___
do.__
121.7
72.7
125.1
105.8
129.5
73.9
133.4
110.6
132.7
74.1
137.5
103.7
133.4
73.8
138.1
119.6
131.1
72.3
138.5
109.6
131.5
71.2
135.5
108.9
134.4
72.7
136.5
103.7
136.9
73.0
136.9
109.9
137.6
74.3
136.5
106.0
139.0
74.7
138.7
11Q.6
141.1
75.2
138.1
112.8
142.2
75.2
136.9
106.4
142.8
'74.3
139.2
113.6
140.' 2
112.1
143.9
Furniture and fixtures
Clay, glass, and stone products..
Primary metals
Iron and steel
Basic iron and steel
Steel mill products
Nonferrous metals
do_.
do_.
do_.
do.
do_.
do_.
do_
132.7
137.1
108.9
104.9
100.7
108.9
115.9
140.9
146.1
110.2
103.4
97.4
105.3
122.4
146.0
152.8
111.2
104.3
95.7
104.2
123.5
146.6
152.1
111.0
103.8
94.7
105.7
123.3
146.4
152.2
107.4
99.5
91.4
104.9
121.7
150.1
152.6
106.2
96.3
89.7
98.0
124.0
149.5
154.2
106.1
96.4
88.2
99.8
123.9
148.9
156.7
114.3
109.0
97.4
116.9
124.7
152.8
157.9
115.5
110.5
104.7
118.1
124.8
156.2
159.8
117.5
114.5
109.4
122.9
123.2
158.1
158.8
123.0
119.0
110.5
133.6
129.5
159.0
159.5
126.0
120.9
114.7
123.1
137.5
160.7
160.9
127.9
123.2
115.2
129.0
136.6
161.3
162.1
128.4
123.8
115.3
130.4
135.8
Fabricated metal products
Nonelectrical machinery
Electrical machinery
do_
do_
do.
123.3
135.0
131.6
130.9
144.8
141.9
135.8
149.7
146.0
136.4
151.7
147.3
136.9
150.1
144.0
136.9
150.1
146.4
138.1
151.5
149.5
139.5
152.2
152.3
140.4
152.9
152.9
142.3
154.6
154.1
144.0
156.1
157.9
145.8
157.3
156.9
146.3
158.7
158.3
146.3
159.8
157.9
Transportation equipment
Motor vehicles and parts
Aerospace and misc. trans, eq
do_.
do_.
do_.
110.6
140.7
82.2
121.1
159.7
84.7
122.0
163.0
83.3
122.2
161.8
84.9
116.2
146.6
87.6
118.4
153.1
85.8
126.5
165.1
90.1
130.5
171.7
91.8
130.1
168.3
93.9
130.4
167.7
95.0
132.1
169.7
96.5
133.4
171.0
98.3
132.8
168.9
98.9
136.9
177.1
'99.2
Instruments
do..
148.2
159.1
163.1
164.7
163.4
163.5
168.7
170.5
169.8
170.9
172.2
175.4
174.6 ' 175. 3
138.6
178.5
101.1
177.2
180.1
BUSINESS SALES §
Mfg. and trade sales (unadj.), total t© A—mil. $__
Mfg. and trade sales (seas, adj.), total t©A-.do
,409,117 2,685,519 232,197 241,801 209,707 224,582
!51,459 50,018
157,761 265,651 140,107 261,407 262,212 272,181 269,243
,185,716 1,335,072 14,342 L17,938
508,363 699,193 60,228 62,130
577,353 635,879 54,114 55,808
14,322
59,973
54,349
61,650
20, 795
40,855
61, 813
20, 674
41,139
59,987
19, 914
40,073
38,165 !42, 627 50,606 !51, 869 252, 639 :50, 853 258,306 258,311 265,295 268,123
.18,982 .21,101 .24, 537 .23, 566 124,839 .23,039 127,871 127,919 130,614 .32,459
63,077 64,457 66,493 65,417 66,293 64,847 68,684 68,916 70,292 71,567
60, 692
56,905 56,644 58,044 58,149 58, 546 58,192 59,187 59,003
60,322
61,548 62,649 63, 917 64, 292 64, 565 64, 343 65,862 66, 347 67,389 68,181
20,445 20, 897 21,807 21, 821 22,092 21, 844 22,908 22,812 23,599 23,723
41,103 41,752 42,110 42,471 42,473 42,571 42,954 43,535 43,790 44,458
55,558
25,601
29,957
57,266
26,488
30,778
55,985
25,568
30,417
57,635
26,976
30,659
22,409,117 '2,685,519 !31, 550 237, 017 130, 294
Manufacturing, total t©
Durable goods industries
Nondurable goods industries
Retail trade, totalA
Durable goods storesA
Nondurable goods stores
do
do
do
do
do_
do_
2 642,507 708,344
210,530 238,815
431,977 469,529
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
do_
do_
do
580,894
246,732
334,162
642,104
285,605
356,498
58,877
27,466
31,411
62,152
28,974
33,178
64,011
28,692
35,319
63,235
28, 738
34,497
63,190
29,889
33,301
64,573
30,072
34,501
64,045
29,763
34,282
67,292
30,936
36,356
67, 483
31, 282
36,201
BUSINESS INVENTORIES §
Mfg. and trade inventories, book value, end of year
or month (unadj.), total tA©
mil. $_. 308,601
333,821 337,922 333,821 337,433 341,939 349,204 352,432 354,647 354,157 355, 639 357,587 361,389 369,854 376,728
Mfg. and trade inventories, book value, end of year
or month (seas, adj.), total tA©
mil. $_. 309,238
334,785 333,186 534,785 337,676 340,396
145,839 350,545 354,226 356, 920 359,301 362,815 364, 74'
367,382 371,479
179,714 79,840 .79,714 180,977 .82,393 .83,860 .85,715 i87, 689 L89.557 91,167 192,882 194,063 195,735 196,525
115,424 .15,212 115,424 16,278 .17,511 18,725 .19,848 .21,471 .22,688 .23, 830 125,206 126,176 126,784 128,293
64,290 64,628 64,290 64,699 64,882 65,135 65,867 66,218 66,869 67, 337 67,676 67,887 • 67,951 68,232
Manufacturing, totalt©
Durable goods industries
Nondurable goods industries
do
do
do
169,886
108,968
60,918
Retail trade, totalA
Durable goods stores
Nondurable goods stores
do_.
do_.
do..
78,045
36,417
41,628
87,073
40,534
46,539
86,299
40,087
46,212
87,073
40,534
46,539
87,708
41,060
46,648
87,642
41,369
46,273
89, 097 89,963 91,063
41,521 41,881 42,300
47,576 48,082 48,763
91,543
42,036
49,507
92, 470
42, 359
50, 111
93,680
42,640
51,040
93,664
42,565
51,099
Merchant wholesalers, totalA
Durable goods establishments
do
do
61,307
38,177
23,130
67,998
44,368
23,630
67,047
43,642
23,405
67,998
44,368
23,630
68,991
44,686
24,305
70,361
45,684
24,677
72,882 74,867
46,838 47,673
26,044 27,194
75,474
48,363
27,111
75,820
48,810
27, 010
75, 664
49, 577
26,087
76,253
50,101
26,152
77,020 1 78,346 79,024
50,300 • 50,903 51,392
26,720 • 27,443 27,632
1.48
1.44
1.44
1.41
1.43
1.40
1.41
1.41
1.43
1.40
1.41
'1.38
1.39
1.58
1.93
.65
.78
.49
1.57
1.91
.64
.77
.50
1.52
1.86
.62
.75
1.47
1.58
1.94
.64
.80
.51
1.43
1.66
2.07
.69
.85
.52
1.53
1.
.61
.77
.48
1.52
1.84
.60
.77
1.49
1.80
.58
.76
.46
1.52
1.86
.60
.78
.47
1.52
1.85
.60
.78
.47
1.55
1.90
.61
.81
.48
1.55
1.82
.59
.78
.46
1.52
1.83
.60
.77
.46
'1.49
'1.80
.58
.77
.45
1.48
1.79
.57
.77
.45
do
do___
do
do
1.23
.50
.19
.53
1.19
.48
.19
.53
1.19
.47
.19
.54
1.15
.45
.18
.52
1.19
.46
.19
.54
1.16
.45
.18
.52
1.15
.45
.18
.52
1.13
.44
.18
.51
1.14
.44
.18
.52
1.14
.45
.18
.52
1.16
.45
.18
.53
1.14
.44
.17
.53
1.15
.44
.18
.53
1.13
'.43
.18
'.51
1.12
.43
.17
.51
Retail trade, totalA
Durable goods stores A
Nondurable goods stores
do.
do.
do
1.39
1.94
1.12
1.40
1.93
1.13
1.40
1.93
1.13
1.41
1.96
1.13
1.46
2.06
1.16
1.42
2.02
1.13
1.42
1.99
1.14
1.41
1.92
1.14
1.42
1.94
1.15
1.42
1.90
1.17
1.44
1.94
1.18
1.42
1.
1.19
1.41
1.87
1.17
1.40
'1.82
1.17
1.41
1.86
1.17
Merchant wholesalers, totalA
Durable goods establishments
Nondurable goods establishments
do
do
do__ _
1.21
1.78
.79
1.21
1.73
1.21
1.70
.78
1.19
1.68
.77
1.23
1.7,
.80
1.22
1.69
.80
1.24
1.71
.83
1.20
1.65
.82
1.18
1.69
.77
1.20
1.70
1.19
1.
.77
1.18
1.67
.76
1.20
1.69
.78
'1.16
1.65
'.75
1.17
1.64
.76
Nondurable goods establishments
do
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, totalt©A
Manufacturing, totalt©
Durable goods industriest
Materials and supplies
Work in process
Finished goods
Nondurable goods industriest©
Materials and supplies
Work in process
Finished goods
94,301 95,930
43,039 44,087
51, 262 51,843
ratiodo—_
do
do_._
do
do—_
MANUFACTURERS' SALES, INVENTORIES
AND ORDERS
Manufacturers' export sales: O
Durable goods industries:
6,813 = 6,867 6,986
6,033
6,673
5,716
6,298 6,378 6,386
62,792
66,765
6,165
5,785
4,982
5,569
Unadjusted, total
mil. $.
6,932
6,643 6,894
6,666
6,092
6,406
5,978 6,240 6,249
5,710
6,061
4,345
5,648
Seasonally adj., total
do__.
1,185,716 1,335,072 114,188 111,358 105,437 119,337 125,225 127,014 125,144 131,727 114,380 126,166 133,527 ' 136,032 132,166
Shipments (not seas, adj.), totalt©
do
71,888 73,591 71,134 3 67,697
Durable goods industries, total 9t
do— 608,363 699,193 59,834 58, 211 54,426 62,766 67,473 68,379 67,357 71,839 59,296 65,
4,039 " 4,176 3,852
4,081
3,581
4,039
3,706 3,809
3,449
3,072
30,637
2,772
2,692
35,274 2,991
Stone, clay, and glass products
do.
9,131 10,110 10,643 r10,918 10,467 3 10,599
9,957 10,252 10,086 10,609
9,515
93,005 103,340 8,484 8,347
8,305
Primary metals
do.
5,445 5,502
5,283
5,039
4,678
5,366
5,105
5,102
5,100
4,223 4,16^
4,898
51,519
4,172
Blast furnaces, steel mills
do.
4,310
4,321
4,279
4,083
3,540
4,123
3,864 4,05^ 3,844
3,310
3,642
3,334
40,87^
3,269
Nonferrous and otLjr primary met
do.
36,531
2
corresponding note on p. S-6.
©Mfrs. shipments, inventories and new orders were revise d
••Revised.
» Preliminary.
i Estimated.
Based on data not seasonally adjusted.
3
back to 1958; revisions prior to Au<?. 1977 are available from Bureau of the Census, Wash., D.u .
Advance estimate; total Mi'rs. shipments for Nov. 1978 do not reflect revisions for selected
20233
ASee notes " V and " t" on p. S-12 for retail trade and note ' 0 ' on p. S-ll for wholecomponents.
JSee note marked "&" on p. S-4.
§The term "business" here includes
sale trade. c 9 Includes data for items not shown separately.
©See corresponding note
only manufacturing and trade; business inventories as shown on p. S-l cover data for all
on p. S-4.
Corrected.
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.
tSee
CKHiJNT 151JS1JNJ
KV-tt:1 UJb
S-6
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are a s s h o w n in
the 1975 edition of B U S I N E S S S T A T I S T I C S
1976
1977
Annual
January 1979
1978
1977
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERSt—Continued
Shipments (not seas. adj.)t— Continued
Durable poods industries!—Continued
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
Nondurable goods industries, total 9 ©
Food and kindred products
Tobacco products
Textile mill products
Paper and allied products
Chemical and allied products
Petroleum and coal products
Rubber and plastics products
7,137
9,970
7,668
14,890
10,501
2,501
6,815
10,627
7,566
13,754
9,134
2,510
6,357 7,457
9,285 11,039
7,135 7,826
13,140 15,313
9,070 10,600
2,182 2,359
7,919
11,860
8,175
16,675
11,641
2,661
8,184
11,685
8,119
17,087
11, 920
2,522
8,110
11,259
7,848
16,833
11,780
2,575
8,510
12,453
8,627
17,540
12,035
2,826
7,158
10,446
7,271
13,185
8,645
2,390
8,393
11,074
8,273
13,858
9,141
2,716
8,637
12,346
9,026
16,958
11,290
2,890
8,605
12,384
8,967
18,125
12,987
2,857
8,582
11,754
8,685
17,944
12,450
2,846
do
do
do
do
577,353 635,879 54,354
180,933 191,887 16,545
8,786
841
9,589
36,387 40,821
63,147
16,494
889
3,437
51,011
15,338
789
3,216
56,571
17,487
800
3,562
57,752
17,694
876
3,691
58,635
17,539
903
3,912
57,787
17,778
835
3,743
59,888
18,204
1,003
3,818
55,084
16,983
821
3,100
60,175
18,209
968
3,744
61,639
18,674
939
3,901
62,441
19,268
1,043
3,990
61,099
18, 743
1,014
3,916
do
do
do
do
48,219
104,142
82,347
31,762
4,313
9,175
8,137
3,119
4,282
9,161
8,346
2,980
4,229
9,366
8,005
2,820
4,666
10,309
8,151
3,260
4,775
11,010
8,019
3,400
4,759
11,434
8,207
3,462
4,803
11,841
8,273
5,066
11,161
8,721
3,491
4,592
9,605
8,679
3,001
5,007
10,241
8,926
3,544
4,966
10,961
9,118
3,522
• 5,157
10,701
•8,781
•3,642
5,124
10,461
8,956
3,492
114,342
117,938
114,322
127,871
127,919
130,614
.32, 459
mil. $_. 77,508 85,255
do
105,529 119,008
d o — 73,868 85,759
do
141,028 170,739
do
95,380 117,758
d o — 25,030 28,570
52,368
113,891
95,656
36,955
118,982
121,101
124,537
123,566
124,839
123,106
60,228 62,130
2,986 3,223
8,794 9,166
4,384 4,639
3,440 3,552
59,973 63,077
3,341
3,136
8,776 9,591
4,932
4,163
3,677 3,698
64,457
66,493
3,657
9,824
4,968
3,834
65,417
3,710
9,628
4,942
3,640
66,293
3,710
9,860
5,062
3,786
65,222
3,644
9,905
5,030
3,823
3,791
10,346
5,064
4,267
do_.
do_.
do..
do..
do_.
do_.
7,296
10,390
7,502
14,527
10,052
2,431
7,419
10,670
7,640
14,906
10,334
2,485
7,003
10,051
7,831
14,420
9,688
2,397
7,582
10,778
7,713
15,176
10,490
2,441
7,848
10,964
7,979
15,676
10,869
2,630
8,013
11,364
8,119
16,288
11, 291
2,569
7,880
11,091
7,929
15,971
11,138
2,602
7,899
11,425
8,167
15,887
10,803
2,674
7,539
11,454
8,071
15,510
10,670
2,579
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 pro ducts
do_
54,114
16,326
821
3,513
4,345
9,626
8,160
3,197
55,808
16,844
884
3,600
4,558
10,104
8,299
3,270
54,349
16,100
836
3,535
4,424
10,223
8,080
3,086
55,905
17,343
840
3,583
4,593
10,093
7,953
3,219
56,644
17,747
898
3,486
4,719
10,277
8,158
3,226
58,044
17,775
928
3,976
4,750
10,537
8,239
3,314
58,149
18,015
821
3,697
4,796
10,433
8,443
3,235
58,546
17,844
960
3,606
4,815
10,719
8,590
3,283
57,884
17,599
824
3,639
4,861
93,402
227,918
156,878
111, 595
95,577
500,346
102,713 8,948
244,028 20,919
177,735 15,384
137,605 11,851
109,361 9,499
563,630 47,741
9,269
21,519
15,672
12,226
9,918
49,334
20,662
15,005
11,440
9,525
48,792
9,147
21,969
15,711
12,261
9,935
50,054
9,190
22,217
16,209
12,690
10,276
50,519
9,611
22,480
16,541
13,160
10,653
52,092
22,554
16,300
12,917
10,651
51,749
40,624
178,160
151,511
26,649
45,015
205,263
173,723
31,540
4,010
17,860
15,174
2,686
4,184
18,208
15,525
2,683
3,911
17,974
15,296
2,678
3,951
18,459
15,690
2,769
4,296
18,978
16,095
2,883
4,369
19,536
16,598
2,938
4,133
19,058
16,257
2,801
170,430
108,529
61,901
180,118 179,313 180,118 182,745 184,450 185,448 186,844 188,499 188,846 189,439 191,281 191,875 ••193,494 195,860
114,862 114,185 114,862 L16,835 118,704 119,969 120,963 122,540 122,891 123,160 124,430 124,903 125,583 127,174
65,256 65,128 65,256 65,910 65,746 65,479 65,881 65,959 65,955 66,279 66,851 66,972 ' 67,911
Shipments (seas, adj.), totalf©
do_.
By industry group:
Durable goods industries, total 9
do_.
Stone, clay, and glass products
do_.
Primary metals
do..
Blast furnaces, steel mills
do..
Nonferrous and other primary met.—do_.
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
By market category:!
Home goods and apparel©
do.
Consumer staples
do.
Equipment 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.
Inventories, end of year or month:!
Book value (unadjusted), totalt
Durable goods industries, total
Nondurable goods industries, total
do_.
do..
do.
9,310
4,683
68,916
3,725
70,292
'3,884
10,241 10,862
5,154 ' 5 , 5 3 4
4,036 4,253
71,635 172,064
3,848
10,868 Ul,639
5,257
4,485
8,241
11,831
8,495
16,324
11,237
2,714
8,200 1 8,152
12,062 12,371
8,509 • 8,526
16,738 16,674
11,012 11,684
2,716 ' 2,715
8,790
12,245
8,505
17,373
11,912
2,766
8,600
3,258
59,187
18,122
921
3,706
4,859
10,188
8,863
3,515
59,003
17,853
933
3,657
4,812
10,450
9,040
3,426
60,322
18,517
' 1,046
' 3,752
* 5,051
10,673
8,837
3,483
60,892
18,507
988
3,813
5,173
10,970
8,984
3,585
9,532
22,545
16,968
12,563
10,786
52,445
9,291
22,300
16,838
12,340
10,605
51,732
9,809
22,855
17,606
12,963
11,200
53,438
22,658
18,277
12,856
11,062
53,246
23,210
17,958
13,543
11,379
54,526
9,942
23,421
18,279
13,794
11,802
55,221
4,361
19,653
16,782
2,871
4,155
19,574
16,819
2,755
4,447
20,409
17,598
2,811
4,353 ' 4,503
21,290 ' 20,744
18,357 " 17,882
2,933 • 2,762
21,191
18,284
2,907
'
'
'
'
'
16,397
4,437 i 4,426
121,119
118,172
i 2,947
179,714 179,840 179,714 180,977 182,393 183,860 185,715 187,689 189,557 191,167 192,882 194,063 194,735 196,525
Book value (seasonally adjusted), total!—do_.
By industry group:
Durable goods industries, total 9
do_.
Stone, clay, and glass products
do..
Primary metals
do_.
Blast furnaces, steel mills
._.do..
Nonferrous and other primary met.do.
108,968
3,991
17,699
10,160
6,490
Fabricated metal products
do.
Machinery, except electrical
do..
Electrical machinery
do.
Transportation equipment
do.
Motor vehicles and parts
do.
Instruments and related products..do.
14,017
24,323
13,912
20,475
7,640
5,265
14,760 14,756
26,379 25,852
15,433 15,240
21,258 21,431
7,851 8,138
5,727 5,733
14,760
26,379
15,433
21,258
7,851
5,727
14,849 15,225
26,731 26,924
15,539 15,703
21,443 21,867
8,128 8,022
5,820 5,950
15.573
27,400
16,023
22,127
8,019
6,087
15,874
27,757
16,188
22,264
7,919
6,104
15,992
28,279
16,445
22,743
8,037
6,140
16,130
28,766
16,628
22,784
8,003
6,203
16,313
29,062
16,758
23,010
7,828
6,199
16,425
29,374
16,860
23,400
8,232
6,282
16,374
29,707
17,023
23,614
8,500
6,384
16,706
30,048
16,959
23,425
r 7, 81"
r 6, 461
do
do
do
do
do
36,540
7,222
6,949
4,105
5,625
38,719 38,793
7,141 7,256
7,345 7,173
4,520 4,435
6,733 6,788
38,719
7,141
7,345
4,520
6,733
38,177 38,535
6,711 6,603
7,329 7,371
4,440 4,528
6,810 6,971
38,547
6,393
7,497
4,581
6,782
38,794
6,371
7,703
4,630
6,730
39,484
6,427
7,897
4,729
6,822
39,667
6,444
8,012
4,819
6,736
39,727
6,394
8,155
4,873
6,541
40,343
6,587
8,175
4,872
6,763
41,133
6,554
8,412
4,979
7,122
• 40,916 41,125
' 6,499 6,631
8,460
'8,680
' 4,951 4,956
' 6,593 6,825
Work in process 9
Primary metals
Machinery, except electrical
Electrical machinery
Transportation equipment
do
do
do...
do
do
44,735
6,036
10,610
6,152
12,262
46,864 46,515
5,760 5,845
11,803 11,517
6,835 6,821
11,655 11,636
46,864 47,785 48,696
5,760 5,880 5,871
11,803 12,040 12,111
6,835 7,000 7,151
11,655 11, 699 12,065
49,491
5,690
12,457
7,259
12,266
50,330
5,801
12,487
7,365
12,674
50,966
5,740
12,723
7,410
13,018
51,684
5,814
13,048
7,452
13,126
52,763
5,998
13,102
7,456
13,698
53,296
6,025
13,374
7,55"
13,722
53,375 ' 54,210 54,849
6,155 ' 6, 257 6,301
13,556 ' 13,567 13,859
7,645 ' 7,707 7,905
13,506 ' 13,924 14,170
Finished goods 9
Primary metals
Machinery, except electrical
Electrical machinery
Transportation equipment
do
do
do
do___
do___
27,693
4,441
6,764
3,655
2,588
29,843 29,906
4,878 4,876
7,231 7,163
4,079 3,985
2,870 3,007
29,843 30,316 30,280
4,878 4,964 4,711
7,231 7,362 7,442
4,079 4,099 4,024
2,870 2,934 2,831
30,687
4,745
7,446
4,183
3,079
30,724
4,768
7,567
4,193
2,860
31,021
31,337
4,951
7,706
4,357
2,922
31,340
4,943
7,805
4,429
2,771
31,56:
4,934
7,825
4,431
2,915
31,668
4,969
7,739
4,399
2,986
By stage of fabrication:!
Materials and supplies 9
Primary metals
Machinery, except electrical
Electrical machinery
Transportation equipment
15,302
115,424 115,212 115,424 116,278 117,511 118,725 119,848 121,471 122,688 123,830 125,206 126,176 126,784 128, 293
4,760
4,688 4,740
4,606
4,510 4,530
4,570
4,259 4,416
4,518
4,569
4,259 4,361
17,779 17,977 17,779 17,555 17,185 16,828 16,940 17,060 17,209 17,335 17,546 17,678 17,751 18,176
9,384 9,523 r 9,613 9,986
8,879
9,126
8,824
8,978
9,782 10,062 9,782 9,500 9,089 8,721
6,951
6,953 6,931 r 6,937
6,974
6,901
7,000 6,987
6,826 6,739 6,826 6,891 6,912 6,893
7^659
4,306
2,903
16,578
30, 111
17,117
24,084
8,148
6,491
' 31,658 32,319
' 4,995 5,244
'7,801
7,792
' 4, 301 4,256
' 2,908 3,089
' 67,95: 68,232
' 17,104 17,003
'3,544 3,653
' 5,571 5,595
' 5,795 5,798
>• 15,246 15,267
' 5,503 5,596
' 4,528 4,51'
Nondurable goods industries, total 9.__do...
60,918 64,290 64, 628 64,290 64,699 64,882 65,135 65,867 66,218 66,869 67,337 67,676 67,887
Food and kindred products
do__ _
15,495
15,575 16,001 15,575 15,755 15,690 15,968 16,168 16,436 16,643 16,525 16,674 16,895
3,359 3,481
3,385
3,465
3,477
Tobacco products
do__ _
3,405
3,501
3,446
3,524 3,534 3,524 3,427 3,419
5,554
5,542
5,394
5,433
Textile mill products
do___
5,475
5,109
5,294 5,288 5,294 5,432 5,450 5,445
5|855
5,632
5,588
5,939
5,816
5,687
5,798
Paper and allied products
do__ _
5,664
5,869
5,218
5,622 5,658 5,622
15,054
15,182 15,317
14,763 14,861
Chemicals and allied products
do__ _
12,965 14,134 14,134 14,134 14,167 14,225 14,426 14,743
5,986
5,406
6,016
5,512
5,576
5,302
5,591
5,397 5,530
Petroleum and coal products
do__ _
5,129
5,992 6,050 5,992
4,561
4,521
4,445
4,498
4,581
4,401
4,521
Rubber and plastics products
do—
3,969
4,281 4,226 4,281 4,356 4,419
By stage of fabrication:!
26,024 26,108 r 26,171 26,393
26,145
25,825 26,314
Materials and supplies
do___
24,945 25,102 25,297
25,297 25,102 25,190 25,332 25,730 25,742
10,352 10,484 r 10,754 10,644
10,348
10,354 10.277
Work in process
do____
9,557 10,116 10,165
10.165 10,116 10,145 10,258 10,208 10,352
31,300 31,295 ' 31,026 31,195
30,844
30,039 30.278
Finished goods
do.__
26,416 29,071 29,166
29.166 29,071 29,364 29,292 29,197 29,773
"Manufacturers' Shipments, Inventories, and Orders: 1958-1977," available for $2.45 from the
/Revised
i Advance estimate; total mfrs. shipments for Nov. 1978 do not reflect reBureau of the Census, Washington, D .C. 20233. Data back to Jan. 1958 for mfg. and trade sales
visions for selected components.
t Revised series. Data revised back to Jan. 1958 to reflect
and inventories and inventory-sales ratios appear on p. 34ff. of the May 1978 Survey.
©See
(1) benchmarking of shipments and inventories data to the 1974,1975, and 1976 Annual Surcorresponding note on p. S-5.
9 Includes data for items not shown separately.
veys of Manufactures, (2) recalculation of new orders estimates, and (3) updating of the seasonal factors. A detailed description of this revison and historical data appear in report M3-1.7,
S-7
SUKVEY OF CURRENT BUSINESS
January 1979
1976
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of B U S I N E S S S T A T I S T I C S
1977
Annual
1978
1977
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Dec.
Nov.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERSt—Continued
Inventories, end of year or monthf—Continued
Book value (seasonally adjusted)—Continued
By market category:!
Home goods and apparel
mil. $_. 14,783
15,340
Consumer staples
do
23,942
22,933
Equip, and defense prod., excl. auto
do
42,836
39,574
Automotive equipment
do
10,108
9,718
Construction materials and supplies
do
14,935
14, 270
Other materials and supplies
do.
72,553
68,608
Supplementary series:
Household durables
do
7,771
7,260
Capital goods industries
do
46,677
43,056
Nondefense
do
40,294
36,
720
STondefense
do.
6,383
6,336
Defense
do.
New orders, net (not seas, adj.), total fA
do
1,189,604 1,354,099
Durable goods industries, total
do
611,963 717,537
Nondurable goods industries, total A
do
577,641 636,562
New orders, net (seas, adj.), total fA
do
By industry group:
Durable goods industries, totalf
do
Primary metals
do
Blast furnaces, steel mills
do
Nonferrous and other primary met___do.
2
15,193 15,340 15,738 15,848
24,393 23,942 24,092 23,902
42,155 42,836 42,971 43,869
10,308 10,108 10,377 10,276
15,046 14,935 15,203 15,720
72,745 72,553 72,596 72,778
15,947
24,157
44,645
10,256
15,853
73,002
16,066
24,621
45,228
10,129
16,059
73,612
16,183
24,928
46,155
10,297
16,091
73,035
16,276
25,407
46, 761
10,265
16, 293
74,555
16,707
25,366
47,339
10,106
16,299
75,350
16,859
25,511
47,790
10, 510
16, 372
75, 840
16,887 16,618
25,919 •25,990
48,255 •48,907
10,751 10,066
16,503 16,731
75,748 •76,423
16,664
26,355
49,176
10, 527
16,829
76,974
7,758 7.771 8,026 8,053
45, 926 46,677 46,966 47,824
39,663 40,294 40,512 41,188
6,263 6,383 6,454 6,636
8,116
48, 772
42,151
6,621
8,188
49,518
42,780
6,738
8,301
50,512
43,610
8,307
51,399
44,583
6,816
8,574
52,112
45,227
6,885
8,635 8,678 ' 8,559
52,620 53,007 •53,839
45, 743 46,246 •46,905
6,877 6,761 ' 6,932
8,602
54,260
47,266
6,994
128,665 134,171 117,023 129,873 '136,129 ' 143,14: 136,471
116,122 114,989 109,532 123,022 129,668
61, 767 61,797 58,172 66,343 71,712 71,890 70,723 74,237 61,702 69, 713 74,520 •80,752 75,518
54,355 53,192 51,360 56,679 57,956 59,009 57,942 59,934 55,321 60,160 '61,609 '62,389 61,173
2
l,189,604 l,354,099 117,024 122,128 117.899 122,544 125,801 128,175 128,450 127,580 123,279
130,952 131,840
71,722
137,162 137,520
611, 963
94, 226
47,396
37,377
717,537 62,821
105,968 9,268
53,394 4,766
41, 360 3,501
66,165
9,347
4,609
3,746
66,681
9,946
5,302
3,611
69,016
10,228
5,376
3,850
70,033
10,308
5,331
3,957
70,045
10,754
5,845
3,811
68,840
10,428
5,451
3,954
65,187
10,095
5,151
3,850
71, 582 72,645 •76,984
10,876 11,233 11,722
5,184 5,764 ' 5,917
4,504 4,365 ' 4,647
76,654 76,555
11,092 111,810
5,497
4,332
do.
do.
do_
do.
do.
76,997
103,901
75,884
143, 606
32,279
85,609
122,489
88,241
178,617
42,420
7,447 7,597 8,019
11,210 10.563 11,482
8,000 8,434 8,460
17, 569 14, 749 16, 392
5,240
4,162
3,675
7,826
11,573
8,319
18,085
4,221
8,778
11,536
8,626
17, 721
4,943
8,023
11,872
8,352
18,019
4,832
7,736
11,477
8,239
17,953
5,677
7,524
11,669
7,902
15,226
3,298
8,294 8,196 ' 8,524
11,830 12,708 13,234
8,730 8,919 ' 8,988
18,516 18,536 20,553
5,460 5,412 ' 5,594
8,905
12,978
20,916
6,745
Nondurable goods industries, total A
do.
Industries with unfilled orders©
do_
Industries without unfilled orders If A . -do.
577,641
124,527
453,114
636, 562 54,203 55,963
139,673 11,932 12,289
496,889 42,271 43,674
55,863
12,047
43,816
56, 785
12,412
44,373
58,142
12,880
45,262
58,405
12,971
45,434
58, 740
12,934
45,806
58,092
13,070
45,022
59,370
13,208
46,162
59,195
12,866
46,329
60,178
12,986
47,192
61,083
13,381
47,702
do..
do..
do_
do.
do.
do..
93,444
227,963
158,051
112, 788
94,415
502,943
103,442
244,051
186,752
138,805
110, 261
570,788
8,908 9,325 9,007 9,222
20,908 21,494 20,680 21,984
17,070 17,785 16,839 17,822
11,736 12,524 11,475 12,521
9,885 10,008 10,011 10,417
48,517 50,992 50,088 50,673
9,160
22,222
18,802
12,895
10,397
52,325
9,735
22,534
18,423
13,171
11,218
53,094
9,422
22,549
19,295
13,018
10,600
53,556
22,526
18,317
12,612
10,690
54,037
9,177
22,350
16,204
12,209
10,437
52,902
9,955
22,840
19,485
13,000
10,986
54,686
22,626
20,281
13,132
10,714
55,149
'9,808
r
23,188
'21,709
13,947
--11,640
'56,870
9,821
23,411
21,024
14,364
11,594
57,306
do..
do..
do..
do..
40,462
179,736
150,011
29, 725
45, 733 3,998
216, 849 19,511
182,413 16,090
34,436 3,421
4,262
21,992
17,507
4,485
4,513
21,440
17,409
4,031
4,150
22,202
18,124
4,263
21,592
18,155
3,437
4,039
19,355
17,074
2,281
4,456
4,563
22, 701 23,667
20,149
19,344
3,518
3,357
' 4,295 4,320
25,455 25,234
22,219 20,575
' 3,236 4,659
Unfilled orders, end of year or month (unadjusted),
totalf
mil. $.. 174,001
Durable goods industries, total
do
166,137
Nondur. goods ind. with unfilled orders©__do
7,864
193,029 189,398 193,029 197,123 200,807 205,248 209,132 212,654 215,098 217,738 221,444 224,149
184,482 180,896 184,482 188,227 191,804 196,039 199,549 202,915 205,310 207, 714 211,434 214,067
8,547 8,502 8,547
9,003
9,209
9,739
9,788
10,024 10,010 10,082
231,261 235,563
221,233 225,460
10,128 10,103
Unfilled orders, end of year or month (seasonally
adjusted) totalf
mil. $__ 174,553
By industry group:
Durable goods industries, total?
do
166,440
Primary metals
do
15,853
Blastfurnaces, steel mills
do
9,962
Nonferrous and other primary met.__do
4,850
184,834 180, 799 184,834 188,194 191,798 196,359 199,895 204,516 207,067 207,026 209,922 213,650 r 220,341 225,361
18,513 18,332 18,513 19, 594 19,948 20,866 21,349 22,476 23,043 23,232 23,760 24,753 '25,612 25,834
11,852 11,882 11,852 12,627 12,996 13,689 14,052 14,955 15,344 15,464 15,583 16,193 ' 16,576 16,816
5,350 5,156
5,350 5,613 5,526
5,696
6,750 ' 7,143
5,990
6,158
6,990
5,819
6,184
6,421
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Aircraft, missiles, and parts
By market category:!
Home goods and apparelA
Consumer staples
Equip, and defense prod., excl. auto
Automotive equipment
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense
Fabricated metal products
do
22,890
Machinery, except electrical
do
43,707
Electrical machinery
do
23, S20
Transportation equipment
do_.. I_ 52, 724
Aircraft, missiles, and parts
do
34,502
Nondur. goods ind. with unfilled orders©.do
8,113
By market category:!
Home goods, apparel, consumer staples, .do
3,285
Equip, and defense prod., inch auto
do
100, 355
Construction materials and supplies
do
17, 881
Other materials and supplies
do__II 53, 032
Supplementary series:
Household durables
do
2,617
Capital goods industries
do
109,386
Nondefense
do
77,284
Defense
do__
32,102
Failure annual rate (seasonally adjusted)
No. per 10,000 concerns.
9,628
1,331
1,770
1,360
4,139
1,028
3,011,271
490,140
428,737
1,121,722
556,912
413,760
4,253
21,384
16,988
4,396
54.564
12,002
42,562
3,994
19,382
16,511
2,871
23,203
47,221
25,833
60,527
41,275
8,825
23,175
46,681
25,473
57,864
39,004
8,670
23, 203
47,221
25,833
60,527
41,275
8,825
23,797
47, 732
26,436
60,856
41,598
9,041
4,078
19,623
i 4,564
24,306
20,293
4,013
24,233
48,434
27,186
62,072
42,502
9,000
24,213
49,044
27,526
64,480
43,396
9,141
24,976
49,219
28,031
65, 915
44,998
9,238
25,118
50,001
28,455
67,963
46,608
9,494
24, 956
50,055
28,529
70,029
48,756
9,687
24,941
50,268
28,358
69,745
48, 751
9,896
24,993
50,266
28, 594
71, 938
50, 650
10,077
24,990
50,912
29,006
73,733
51,964
'25,361 25,477
•51,776 52,510
•29,466 29,950
•77,612 81,052
•54,210 57.190
10,271 10,123 10,315
229,845
i 26,005
84,278
4,091
4,309 4,285
4,329
4,483
4,219
4,457
4,266
4,396 4,482 ' 4,270 4,138
4,060 4,091
110,488 .08, 077 ,10,488 112,156 114,527 117,326 119,221 122,306 123,708 122,938 124,857 127,137 131,291 L34, 606
18,765 18, 675 18,765 19, 249 19, 731 19,852 20,417 20,366 20,269 20,102 19,888 19,539 19,800 19,593
60,315 58,657 60,315 61,611 62, 231 64, 037 65,038 66,855 68,448 69,616 70,858 72,763 75,103 77.191
3,389 3,320 3,389 3,472
3,520
3,326
3,486
3,546
3,644
3,625
3,431
3,546 3,649 '3,442
120,899 17,723 L20, 899 122,307 124,388 127,402 129,310 132,453 134,393 134,172 136,464 .38,841 143,550 147,596
85,893 84,430 85,893 87,107 89,301 90,712 91,528 93,395 94,768 95,021 96,767 98,560 102,795 .05,088
35,006 32,293 35,006 35,200 35,087 36, 690 37, 782 39,058 39,625 39,151 39, 697 40,281 40,755 42,508
38,008
39,674
36,986
36,547
517
621
77
76
89
132
96
87
200
262
55
64
200,287 .68,317
18,659 13,986
21,527 10,415
65,286 .01,789
62,418 32,224
32,397
504
63
69
74
231
67
34,586
38,344
7,919
1,041
1,463
1,122
3,406
887
3,095,317
358,686
420,220
1,221,122
482,560
612,729
21,359
9,764
82,393
40,513
14,279
2
2 34.8
28.4
27.0
21.6
'Revised.
P Preliminary.
'Advance estimate: totals for mfrs. new and unfilled
orders for Nov. 1978 do not reflect revisions for selected components.
2 Based on unadjusted
data.
f See corresponding note on p. S-€.
9 Includes data for items not shown separately.
ASee note marked " © " on p. S-5.
©Includes textile mill prod., leather and
prod., paper and allied prod., and print, and pub. ind.; unfilled orders for other nondurable
goods are zero.
3,998
20,538
17,882
2,656
1
193,659 189,469 193,659 197,235 200,798 205,500 209,133 214,010 216,754 216,922 219,999 223,921 ' 230,464 235,528
BUSINESS INCORPORATIONS©
New incorporations (50 States and Dist. Col.):
Unadjusted
.number.. 375,766
Seasonally adjusted..
do
INDUSTRIAL AND COMMERCIAL
FAILURES©
Failures, total
number
Commercial service
do
Construction
IllHIIIdoIII"
Manufacturing and mining
...I do
Retail trade
do
Wholesale trade
Illldo
Liabilities (current), total
thous. $
Commercial service.
do
Construction
...IldoIIII
Manufacturing and mining
do
Retail trade
do
Wholesale trade
IllllHIIIdoIIII
7,635
10,797
8,059
15,247
3,283
63,335
9,857
4,938
3,940
35,249
39,253
43,130
37,602
38,498
41,960
38,320
666
559
594
79
63
78
75
106
104
107
109
114
83
81
87
288
250
246
257
79
59
71
66
205,014 324,412 202,990 160,395
70,081 12,319 31,388 14,872
24,297 16,543 24,490 17,547
46,080 230,159 78,094 77, 213
34,854 37,867 35,824 27,850
29,702 27,524 33,194 22,913
43,059 39,245 42,392
39,796 <=39,403 42,605
38,732
41,827
i 3,462
150,778
107,206
i 43,572
41,022
41,945
519
62
99
70
228
60
178,839
42,981
21,733
55,154
33,947
25,024
24.6
24.1
21.9
23.4
U For these industries (food and kindred prod., tobacco mfs., apparel and other textile
prod., petroleum and coal prod., chem. and allied prod., rubber and plastics prod.) sales are
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; Alaska, beginning
Sept. 1976).
c Corrected.
24.0
SUKV JUI <JJb
S-8
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
1978
1977
Nov.
Annual
J anuar;V 1979
bJJNT
U
Dec.
Jan.
Feb.
Apr.
May
June
July
Aug.
Sept.
Oct.
501
445
533
433
325
328
460
1,006
560
624
700
238
521
468
696
437
337
344
441
1,017
576
618
730
245
538
478
604
454
351
340
503
1,018
597
612
779
237
543
486
588
463
342
337
583
1,017
603
612
789
238
537
478
531
478
324
335
586
1,030
597
618
763
258
525
455
449
478
307
337
554
1,078.
598
642
765
537
457
463
472
302
336
623
1,144
621
667
796
247
543
451
451
503
302
343
548
1,107
639
691
830
238
••537
'451
'462
'516
309
••349
'470
1,115
'627
'709
792
248
552
456
491
518
315
345
460
1,138
653
722
829
260
Mar.
Nov.
Dec.
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS*
Prices received, all farm products
1910-14=100Crops 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 PRICES1
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
ALL ITEMS, WAGE EARNERS AND CLERICAL WORKERS, REVISED (CPI-W)f
1967=100.
ALL ITEMS, ALL URBAN CONSUMERS
(CPI-U)I..1967=100.
Special group indexes:
All items less shelter
do...
All items less food
_
do...
All items less medical care
do...
Commodities
do...
Nondurables
_
do
Nondurables less food..
do...
Durables
do
Commodities less food
_
..do...
Services..
_
__do...
Services less rent
_
do...
Food9—
do.
Food at home
_
...do.
Housing
do...
Shelter9do .
Rent
..do...
Homeownership
do...
Fuel and utilities9
_
_.do...
Fuel oil and coal
do...
Gas (piped) and electricity
do...
Household furnishings and operation
do...
Apparel and upkeep
do...
Transportation
do...
Private
_
do...
New cars
_do__.
Used cars
do...
Public
do...
Medical care
do__.
465
423
530
404
306
314
424
1,015
1,024
495
624
582
223
509
624
613
218
593
585
576
595
588
578
605
590
590
611
593
621
598
611
630
602
621
638
608
630
641
613
632
643
620
632
644
624
630
651
628
639
656
632
644
659
638
646
665
641
653
690
66
710
65
717
67
727
69
735
71
744
72
747
73
748
72
749
70
757
71
760
71
763
65
70
770
72
181.5
185.4
186.1
187.1
188.4
189.7
191.4
193.3
196.7
197.7
199.1
200.7
201.8
202.9
181.5
185.4
186.1
187.2
188.4
189.8
191.5
193.3
195.3
196.7
197.8
199.3
200.9
202.0
202.9
179.1
178.4
180.3
182.5
182.5
184.1
192.7
192.0
195.3
193.5
193.3
196.3
194.5
195.1
197.9
195.8
196.7
199.4
196.7
197.8
200.5
198.6
201.5
174.7
178.9
166.5
163.2
165.1
194.3
201.6
192.2
190.2
186.5
191.1
153.5
204.9
202.2
283.4
213.4
167.5
154.2
177.2
176.6
142.9
182.8
182.4
202.4
177.9
182.4
170.1
165.5
168.1
199.5
207.2
195.6
193.0
191.4
196.9
157.0
211.5
207.4
289.9
219.5
170.2
158.5
178.7
178.0
148.2
175.0
184.7
208.1
183.8
183.8
185.8
179.2
183.9
169.7
166.6
168.6
202.0
209.8
199.2
197.0
1 193.8
200.0
2158.8
215.0
3 208. 5
<295.2
219.7
1171.3
155.7
179.0
178.2
150.9
169.8
185.7 186.6
209.3
211.2
191.8
190.6
193.9
189.3
194.4
175.4
175.9
176.3
213.4
222.2
215.4
214.5
1 205.2
213.3
2165.1
230.6
3 218.1
4 294.2
236.9
1 178.9
159.6
188.1
187.7
153.8
196.7
187.6
221.4
190.5
195.4
177.1
177.2
177. 8
215.6
224.6
215.6
214.1
1 207.5
216.2
2166.4
234.2
3 218.8
4 295. 7
237.9
180.5
161.9
188.7
188.3
153.5
195.9
188.2
222.6
191.8
196.6
178.1
178.8
179.1
217.6
226.7
216.8
215.4
1209.5
218.6
2167.4
237.0
3 220.1
4 300.1
240.0
1 181. 9
163.3
189.7
189.4
155.5
195.4
189.3
224.7
192.9
197.5
179.1
180.0
180.3
218.6
227.8
217.8
216.1
1 210.6
220.1
2 168.5
238.8
3 218.5
4 306.1
234.9
1 183.0
164.1
191.4
191.1
158.5
194.7
189.7
227.0
194.2
198.8
180.0
181.2
181.3
219.2
228.2
219.4
217.9
1211.5
221.0
2 169. 5
239.5
3 219. 9
4 311.8
236.2
184.0
163.2
192. 0
192. 5
159.8
194.0
189.1
227.8
456
431
496
509
316
275
358
972
481
594
564
228
445
414
512
428
290
305
434
993
478
624
552
217
564
563
559
591
573
580
650
71
687
170.5
170.5
168.3
167.5
169.7
165.2
169.2
158. 3
154.3
156.6
180.4
186.8
180.8
179.5
174.6
179.0
144.7
191.7
182.7
250.8
189.0
160.1
147.6
165.5
164.6
135.7
167.9
174.2
184.7
Seasonally Adjusted A
All items, percent change from previous month
Commodities
1967=100.
Commodities less food
do__
Food.
Food at home
do__.
Fuels and utilities
do__.
Fuel oil and coal
do__.
Apparel and upkeep
do__.
Transportation
_
_ do__
Private
111111-ldo.J.
New cars
do._.
Services
do__.
PRODUCER PRICES©"
452
411
450
411
299
310
414
464
443
456
504
387
355
294
906
485
591
569
233
0.4
177.5
167.6
196.0
193.5
207.6
289.5
156.4
178.3
177.8
146.9
199.5
183.0
183.1
184.7
178.3
182.9
170.3
165.9
168.4
200.5
208.2
196.3
193.7
192.4
198.2
157.9
213.0
207.6
291.9
218.9
171.0
158.2
178.8
178.0
150.5
170.7
427
518
425
313
320
441
1,020
539
624
661
235
185.0
184.7
186.9
186.3
185.9
188.3
188.1
187.4
190.1
189.9
189.0
191.9
180.2
185.1
169.6
167.2
168.8
203.5
211.4
202.0
200.1
195.0
201.3
2159.7
216.4
3 210. 6
4 296.9
223.3
1 172.1
154.5
179.4
178.6
151.2
170.0
186.8
213.3
181.6
186.8
170.7
168.3
170.0
204.9
213.0
204.2
202.5
1196. 7
202.9
2160. 5
218.3
3 212.6
4 297.2
226.6
1 173. 6
156.5
179.9
179.1
151.1
172.3
187.2
214.5
183.5
188.8
171.8
169.9
171.3
206.5
214.6
207.5
206.5
198.3
204. 7
2 161.5
220.4
3 213. 9
4 296. 6
229.2
1 175.0
158.4
181.1
180.3
151.2
177.3
187.3
215.7
185.5
190.7
172.8
172.0
173.0
208.0
216.2
210.3
209.7
1 199. 9
206.6
2162. 7
222.5
3 215. 5
4 295. 6
232.5
1 176.0
159.8
183.2
182.6
152.5
184.6
187.4
216.9
188.6
187.5
193.6
192.7
174.1
173.7
175.3
173.9
175.4
174.4
211.7
209.9
220.4
218.3
215.0
213.8
214.7
213.9
1 202.0 203.8
211.3
208.9
2 163.6 2 164. 2
228.3
225.3
3 217.5 3 218.0
4 295.1 4 294. 5
237.2
236.5
178.1
1177.6
158.0
159.9
187.2
185.5
186.8
185.0
153.9
153.5
195.9
191.5
187.7
187.2
219.4
217.9
197.8
0.5
0.6
0.8
0.8
0.5
0.6
0.9
0.9
0.8
0.9
0.6
0.8
0.4
192.7
194.3
190.1
191.5
187.9
188:7
185.6
187.2
182.3
184.0
180.8
178.3
179.9
179.9
181.5
177.2
178.5
174.9
175.7
172.8
173.9
170.9
171.8
169.9
168.4
169.5
218.0
219.7
215.6
217.3
213.9
214.5
211.2
214.0
204.3 208.1
201.6
196.7
199.2
216.5
218.3
214.1
216.0
213.2
213.3
214.0
199.5 202.5 207.3 211.1
194.2
197.0
207.1 3 207. 7 3 209.4 3 211. 5 3 213.2 s 215. 5 3 217.8 3 218.8 3 219.4 3 219. 9 s 221. 5 3 218. 6 3 219.4
289.6 4 290.8 4 291.1 4 294.0 4 295. 7 1 296.5 4 297.8 4 297. 5 4 298.4 4 300.2 4 302.5 4 305.8 4 309.3
161.9
161.8
161.1
156.8
159.3
160.1
159.7
160.3
157.2
157.2
158.8
155.7
190.9
193.1
188.6
187.8
185.6
186.6
179.2
183.2
184.4
181.7
182.0
181.4
180.3
190.7
193.1
188.2
187.5
185.1
186.1
183.8
182.5
181.3
180. 7 181.0
178.7
179.7
157.1
157.6
154.7
156.8
155.3
155.8
154.1
150.5
152.8
151.0
150.3
148.4
149.3
218.3
218.7
217.5
215.7
212.2
214.0
200.3
210.5
208.7
203.0 204.7
206.6
201.5
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
Spot market prices, basic commodities:
* 209.6
205.9
212.7
218.0
22 Commodities
1967=100. «* 201.0
201.6 * 208.2
208.8
215.1
215.4
9 Foodstuffs
_ _ do
s 200.6 5 210.4 203.8
210.9
219.7
13 Raw industrials
_
do
All commodities
do
183.0
194.2
198.2
197.1
200.1
By stage of processing:
Crude materials for further processing do___
205.1
214.4
215.5
210.6
219.6
189.3
Intermediate materials, supplies, etc . . do _
201.7
204.9
205.4
207.2
Finished goods O
do___
170.3
180.6
184.6
185.5
187.0
Finished consumer goods
do.
169.0
178.9
181.9
183.0
184.4
Capital equipment
""do ""
173.2
184.5
190.8
191.6
193.0
By durability of product:
Durable goods
_ do
176.0
188.1
192.9
193.8
196.1
Nondurable goods
do__~
188.0
198.4
199.4
200.8
202.3
Total manufactures
I"_IIdoI"
179.0
190.1
193.8
194.6
196.2
175.6
Durable manufactures
dol_ 1
188.1
193.3
194.1
196.1
182.1
Nondurable manufactures
do
191.8
193.6
194.5
195.6
Pr
• ?£^£'
* elimiriary. I Includes TV and
sound equipment and repairs formerly
3
in health and recreation."
2 Residential.
Includes additional items not previously
priced.
4 Includes bottled gas.
s Computed by BEA.
JData revised back to 1965
to reflect new base weights; comparable data for earlier periods will be shown later.
9 Includes data for items not shown separately.
§ Ratio of prices received to prices paid
(parity index). HData through December 1977 are for urban wage earners and clerical
208.0
229.6
240.8
221.1
209.6
228.9
234.
224.7
210.
236.2
241.4
232.6
210.4
243.0
248.7
239.1
212.3
251.0
253.1
249.4
215.0
252.2
248.3
254.8
215.7
250.8
249.1
251.8
217.4
241.2
213.9
193.1
191.4
196.9
245.4
215.1
194.
193.0
198.1
245.4
216.0
196.0
194.6
199.
240.2
' 217.3
'
195. 6
r
193. 6
'200.0
244.9
218.
196.9
195.1
201.0
249.9
220.7
199.7
197.8
204.1
248.6
221.8
200.6
198.3
205.9
252.4
222.8
202.4
200.4
206.9
202.8
211.
202.5
202.6
201.
203.8
213.0
203.9
203.9
203.2
205.3
213.9
204.8
205.0
203.9
r 207. 3
212.1
' 205.7
r 207.1
203.4
208.0
214.7
207.1
207.8
205.6
210.7
217.4
209.6
210.5
207.9
212.1
217.6
210.6
211.8
208.5
213.0
219.9
212.0
212.7
210.5
220.3
220.8
219.
226.3
236.0
219.8
225.0
237.9
216.5
228.1
243.7
217.8
202.1
203.7
206.5
225.0
188.5
186.2
193.7
230.5
210.7
189.1
186.8
194.6
239.0
212.5
191.5
189.7
195.6
198.0
204.5
197.8
197.9
197.1
199.3
206.5
198.9
199.1
198.1
201.5
209.5
201.0
201.3
200.0
workers; beginning January 1978, there are two indexes, all urban wage earners and clerical
workers, revised (CPI-W), and all urban consumers (CPI-U). These indexes reflect improved
pricing methods, updated expenditure patterns, etc.; complete details are available from
Bureau of Labor Statistics, Washington, D.C. 20212.
ABeginning Jan. 1978, O.F1-U.
cf For actual producer prices of individual commodities see respective <
O Goods to users, incl. raw foods and fuels.
SUEVEY OF CURRENT BUSINESS
January 1979
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of B U S I N E S S STATISTICS
1976
1977
Annual
S-9
1977
Nov.
1978
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
205.3
210.0
' 215.3
178.9
204.8
216.6
209.5
215.3
209.8
176.9
211.1
226.8
213.6
220.7
225.9
182.0
184.9
235.1
212.5
219.2
217.4
189.0
192.4
222.4
216.1
222.4
218.3
184.7
198.5
230.1
201.8
196.9
' 192. 5
190.8
203.3
215.9
205.5
197.8
190.9
192.9
204.9
224.4
209.0
201.1
193.2
197.0
210.3
228.2
208.1
201.4
195.8
199.6
216.3
220.9
211.9
202.3
196.4
202.7
218.4
229.1
Sept.
Oct.
Nov.
Dec.
COMMODITY PRICES—Continued
PRODUCER PRICEScf—Continued
(U.S. Department of Labor Indexes)—Continued
All commodities—Continued
Farm prod., processed foods and feeds. 1967=100.
Farm products 9
do__.
Fruits and vegetables, fresh and dried.-do--G rains
._.
_
...do...
Live poultry
_do_..
Livestock...
...do...
Foods and feeds, 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.
Industrial commodities
-do.
Chemicals and allied products 9
do.
Agric. chemicals and chem. prod
do..
Chemicals, industrial
do..
Drugs and Pharmaceuticals
do.
Fats and oils, inedible
_
..do.
Prepared paint
do.
Fuels and related prod., and power 9
do..
Coal.
do..
Electric power
do.
Gas fuels
do.
Petroleum products, refined
do.
Furniture and household durables 9
do.
Appliances, household
do.
Furniture, household
do.
Home electronic equipment
do.
183.1
191.0
178.4
205.9
166.9
173.3
188.8
192.5
192.2
165.0
175.4
173.0
187.0
185.6
193.5
164.6
162.7
171.6
189.4
188.3
169.5
167.3
157.8
182.7
192.2
192.2
196.6
169.1
170.2
188.2
196.8
198.9
204.2
170.8
188.8
202.1
200.0
204.2
201.2
178.9
187.9
208.3
205.5
213.7
227.3
198.7
196.0
218.1
207.6
215.8
220.1
189.2
194.5
230.3
210.4
219.5
230.2
188.1
221.6
236.2
210.3
219.9
252.4
183.8
246.5
226.8
178.0
173.5
172.1
168.5
170.2
181.6
186.1
201.0
173.4
173.4
187.4
182.0
186.9
201.7
179.9
176.9
193.1
183.4
189.3
201.3
182.1
178.2
194.4
190.8
191.5
202.1
184.3
178.0
194.3
193.6
194.9
201.3
185.0
178.7
194.5
205.4
196.9
200.1
186.4
180.3
195.6
204.7
200.2
200.1
188.8
184.5
196.5
211.7
202.4
199.5
188.2
184.5
197.4
220.4
204.6
200.0
189.0
185.4
198.7
226.2
204.2
198.4
191.0
186.1
200.4
224.4
182.4
195.1
199.3
200.0
201.6
202.9
204.1
206.1
207.4
208.5
210.1
r
211.4
212.4
214.7
216.0
217.0
187.2
188.4
219.3
134.0
249.9
174.4
192.8
187.8
223.9
140.5
279.0
182.4
193.9
188.2
225.1
142.3
265.4
186.7
194.1
187.1
225.3
142.9
266.1
185.9
194.1
187.5
224.3
144.1
263. 2
186.1
195.2
189.1
224.2
145.0
281.5
189.3
196.1
191.0
224.1
145.3
294.6
189.5
196.9
192.3
224.2
146.2
301.3
191.6
198.6
203.5
224.0
146.6
315.2
192.6
199.1
202.4
224.6
147.8
313.2
192.6
199.8
202.1
225.1
148.5
335.6
192.6
r
199.5
r
202.1
'226.4
r
148.9
312.9
192.6
200.2
202.4
226.3
149.6
338.5
192.6
201.5
202.5
227.8
150.3
340.0
192.6
202.3
201.8
227.1
152.1
361.2
196.9
202.0
201.6
228.8
153.2
332.9
199.1
265.6
368.7
207.6
286.8
276.6
302.2
389.4
232.9
387.8
308.2
310.5
400.6
237.6
414.0
313.6
312.0
402.0
237.0
422.3
313.9
312.8
403.8
239.5
420.4
314.3
312.9
404.9
242.6
417.7
312.9
315.3
407.0
249.8
424.8
310.9
317.3
426.4
250.6
428.6
311.7
319.7
432.4
252.6
428.8
314.5
322.8
434.6
256. 5
428.1
318.0
324.5
437.1
254.8
430.6
321.1
324.9
'441.7
'253.6
' 425.3
r
323.3
327.0
442.7
252.7
431.5
326.1
328.9
443.9
253.4
433.4
328.9
329.9
442.7
250.4
434.9
331.9
334.1
442.7
251.3
444.7
337.4
145. 6
139.2
153.6
91.3
151.5
145.1
162.2
87.7
153.8
148.0
165.1
86.6
154.2
148.0
166.4
86.5
156.5
149.5
168.2
89.0
156.7
149.8
168.8
88.7
157.7
151.2
169.3
89.1
158.4
152.4
169.9
88.7
159.2
152.4
170.7
90.0
159.2
152.3
172.3
87.4
161.4
153.5
174.6
90.8
r
161. 8
' 154.0
175.6
'90.8
161.3
153.7
176.1
162.2
154.2
177.9
88.7
162.9
155.3
178.9
163.7
155.3
178.9
89.7
" 205.1
184. C
400.8
251.9
r 281.6
r 326. 7
211.0
186.5
435.3
269.4
282.8
332.0
213.3
191.2
427.9
269.4
284.1
334.4
216.0
192.7
417.0
278.7
288.5
338.5
216.5
194.9
401.3
279.6
288.7
339.2
197.5
214.1
r 234. 6
r
165.8
r 218.2
198.7
217.0
236.5
166.5
220.2
200.4
217.9
240.1
167.5
223.5
202.5
219.9
241.9
169.6
225.9
203.6
221.0
243.6
170.4
228.0
231.0
176. 2
' 258. 6
•• 211.1
231.5
175.8
258.4
211.3
234.0
176.7
259.7
217.0
235.4
177.0
261.5
218.1
236.6
178.8
263.1
218.9
227.8
201.8
221.0
236.0
199.1
210.4
176.6
180.3
229.0
202.4
222.3
236.8
202.2
213.2
178.0
184.3
229.8
204.4
222.9
242.1
203.7
214.2
179.2
187.6
230.9
206.5
224.2
242.7
204.9
214.9
179.6
188.6
r
Hides, skins, and leather products 9
Footwear
Hides and skins
Leather
Lumber and wood products
Lumber
do..
do..
do..
do..
do.
do..
167.8
158.9
258.4
188.1
205.6
233.0
179.3
168.7
286.7
201.0
236.3
276.5
180.0
171.6
273.2
197.0
243.3
284.8
181.5
171.6
291.9
200.4
249.2
291.0
185.8
173.4
300.4
210.8
256.4
300.4
187.2
175.7
298.2
211.9
263.7
308.5
187.9
175.7
296.0
215.3
266.2
312.5
191.9
180.0
320.5
217.4
269.6
316.7
193.6
180.9
321.7
217.3
273.4
316.5
195.5
181.6
346. 5
217.4
278.5
320.8
197.3
181.7
360.4
224.5
277.5
319.1
Machinery and equipment 9
Agricultural machinery and equip
Construction machinery and equip
Electrical machinery and equip
Metalworking machinery and equip
do..
do..
do.
do.
do..
171.0
183.0
198.9
146.7
182.7
181.7
197.9
213.5
154.1
198.5
186.8
205. 3
220.8
157.9
204.9
187.5
206.3
223.0
158.0
206.0
189.3
206.7
223.5
160.0
208.3
190.3
207.7
224.8
160.7
209.5
191.6
208.1
225.7
161.8
210.8
192.7
209.0
228.4
162.7
212.2
193.9
209.7
230.3
163.4
214.0
195.1
210.3
230.7
164.5
215.3
196.5
212.2
232.8
165.4
216.7
Metals and metal products 9
Heating equipment
Iron and steel
Nonferrous metals
do.
do.
do.
do.
195.9
158.0
215.9
181.6
209.0
165.5
230.4
195.4
212.0
168.3
233.5
194.2
213.3
169.3
235.7
195.1
215.2
171.3
237.9
198.0
219.1
170.7
244.8
199.7
221.1
171.3
247.6
201.1
223.9
172.7
252.0
202.9
224.6
173.4
252.0
203.2
225.2
173.6
252.1
205.0
227.3
174.4
253.9
205.9
.do..
do.
do..
do.
do.
do.
do.
do.
186.3
163.5
180.1
154.4
179 4
182.3
159.2
161.5
200.5
179.8
191.8
183.5
186.4
194.3
167.6
169.9
205.7
185.1
195.4
203.2
188.2
197.2
170.2
171.7
206.6
185.5
195. 7
204.9
187.6
196.9
170.0
172.1
212.9
189.6
202.9
209.7
188.0
197.5
170.2
172.3
215.1
190.4
205.2
215.9
188.6
198.3
170.2
170.9
215.9
192.6
206.0
217.0
189.7
198.8
171.4
172.3
218.4
193.7
207.9
221.2
191.9
202.7
172.8
175.1
219.3
194.2
209.7
228.2
193.2
204.0
173.8
178.8
221.7
195.5
211.4
230.2
193.3
205.4
174.4
179.3
224.7
196.6
214.4
234.0
195.5
206.8
174.9
179.9
r 227.2
197.7
r 219. 7
235.9
' 195. 8
r 208.0
Textile products and apparel §
do
Synthetic
fibers
Dec. 1975=100..
Processed yarns and threads
do
G r a y fabrics
do
Finished fabrics
do
Apparel
1967=100.
Textile house furnishings
do
148.2
102.4
99.5
106.1
101.1
139.9
159.3
154.0
107.3
100.9
104.7
103.7
147.3
171.3
155.3
109.3
100.4
105.2
103.5
149.1
175.3
155.8
109.3
100. 5
107.2
103.6
149.4
175.3
156.5
110.0
100.6
108.9
103.6
150.1
175.4
157.0
109.9
101.0
109.9
103.7
150.0
175.8
157.4
109.9
101.2
112.2
103.0
150.2
176.3
157.9
109.2
101.1
113.9
103.1
150.7
176.1
158.6
109.5
101.0
117.3
103.3
151.0
177.0
158.9
109.1
101.3
117.8
102.9
151. 7
178.7
160.0
108.9
101.9
119.2
103.2
153.0
179.4
" 160. 5
* 109.1
102.4
r 120. 9
'103.4
* 153. 5
179.2
161.1
109.3
103.3
124.1
104.0
153.2
180.3
162.2
109.8
103.7
126.5
104.3
154.3
181.0
163.0
110.8
105.3
126.7
104. 7
155.2
180.5
163.5
111.5
104.6
125.9
105.8
155.4
183.4
Transportation equipment 9 . - . D e c . 1968=100.
Motor vehicles and equip
.1967=100.
151.1
153.8
161.3
163.7
168.1
170.7
168.3
170.9
169.1
171.3
169.5
171.8
169.6
171.9
170.5
172.9
172.0
174.
172.5
175.2
172.8
175.5
" 173.1
r
175. 8
173.5
175.8
178.8
181.3
179.8
182.1
180.2
182.5
«0.9
Nonmetallic mineral products 9
Clay prod., structural, excl. refrac
Concrete products
Gypsum products
Pulp, paper, and allied products
Paper
Rubber and plastics products
Tires and tubes
r
r
r
r
175. 7
r 180. 0
Seasonally Adjusted!
All commodities, percent change from previous
month
_
B y stage of processing;
C r u d e materials for further processing- .1967=100Intermediate materials, supplies, etc
do
Finished goods O
do
Finished consumer goods
do
Food
do
Finished goods, exc. foods
do
Durable
do
Nondurable
do
Capital e q u i p m e n t
do
0.7
0.4
1.0
0.9
1.1
0.7
0.7
0.3
0.3
0.8
1.4
0.7
0.6
214.4
205.2
184.5
182.1
191.9
175.4
155.5
188.8
189.9
217.2
206.0
185.3
182.7
192. f>
176.1
156.1
189. 5
191.3
• 221.6
• 207. 9
• 186.6
1
184.2
' 194. 8
' 177.1
• 157. 4
• 190. 3
1
192. 3
228.7
209.7
188.6
186.4
200.7
177.6
157.7
190.9
193.5
231.7
211.3
189.6
187.5
202.1
178.4
158.7
191.5
194.6
238.5
212.4
192.0
190.4
205.8
180.8
163.2
192.4
195.7
238.9
213.7
193.4
191.6
206 7
182.3
165.5
193.3
197.3
243.1
214. 6
194.8
193.1
209.1
183.2
165.8
194.6
198.7
241.7
215.4
195.7
193.9
208.4
184.8
168.4
195.4
199.9
238.6
216.4
195.5
193.4
205.2
185.6
169.6
195.9
200.6
242.3
217.9
197.2
195.1
208.6
186.6
170.3
197.1
201.8
249.6
220.6
198.9
197.1
212.1
187.8
170.3
199.2
203.0
253.3
222.2
200.4
198.5
213.4
189.1
171.1
200.9
205.0
254.4
223. 5
202.1
200.2
215.4
190.7
171.9
203.0
206.6
By durability of product:
Total manufactures
Durable manufactures
Nondurable manufactures
do.
do.
do.
193.8
193.3
193.6
194.8
194.3
194. 5
• 196. 4
• 196. 3
• 195. 8
198.4
198.1
198.1
199.5
199.3
199.1
201.4
201.3
200.8
202.7
202.6
202.5
203.9
203.7
203.0
204.4
205.0
202.9
• 205.5
• 207.1
202.6
206.7
208.0
204.6
208.8
209.9
207.1
210.6
211.8
208.5
212.2
212.9
210.5
do.
189.3
188.3
188.7
189.3
• 192.0
' 191.0
197.4
195.4
205.5
198.7
214.2
201.0
214.2
202.6
218.2
203.6
216.8
201.6
210.8
201.4
214.2
204.7
222.1
209.4
223.9
209.7
223.3
211.9
$0,542
.539
$0. 539
.537
$0,535
6.534
$0,531
.531
$0,529
.527
$0,522
.522
$0,518
.517
$0,514
.512
$0,510
$0,511
.506
$0,508
.502
$0,501
$0,499
.495
$0.494
.493
Farm products
Processed foods and feeds
PURCHASING POWER
As measured by—
Producer prices A
Consumer prices
OF T H E
...do.
DOLLAR
1967=$1.00.
.do...
!0. 587
.587
' $0.554
.551
r
a
b
Revised.
See note "t" for this page.
Beginning J a n . 1978, based on C P I - U ; see
note "If" for p . S-8.
cf See corresponding note on p . S-8.
9 Includes d a t a for items not
shown separately.
§ Effective with Jan. 1976 reporting, the textile products group has been
extensively reclassified; no comparable d a t a for earlier periods are available for the newly
285-100 O - 79 - S2
introduced indexes.
t Beginning in the F e b r u a r y 1978 SURVEY, data have been revised
(back to 1973) to reflect new seasonal factors.
O See corresponding note on p . S-8.
A Beginning March 1978, purchasing power of the dollar is measured b y finished goods.
OF CURRENT
SUR
S-10
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
1978
1977
Nov.
Annual
January 1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE J
148,778
172, 552 15,730
13,813
11,441
11,395
13,425
15,339
17,290
18,752
19,010
19,709
19,787
19,640
18,723
110,467
Private, total 9
do..
60, 520
Residential (including farm)
do..
47, 277
New housing units
do..
Nonresidential buildings, except farm and public utilities, total 9
mil. $.. 26,091
7,183
Industrial
do
12,756
Commercial
do
Public utilities:
3,777
Telephone and telegraph
___do
134, 724 12,438
7,431
80, 956
6,345
65,749
11,071
6,442
5,409
9,188
5,149
4,239
9,153
5,158
4,295
10,823
6,264
5,174
12,180
7,272
5,669
13,466
8,297
6,366
14,511
8,881
7,041
14,572
8,989
7,382
14,846
9,069
7,543
14,990
' 9,037
'7,436
14,991
' 8,699
'7,334
14,561
8,300
7,075
2,714
723
2,416
690
1,220
2,074
554
1,081
2,095
565
1,097
2,463
720
1,242
2,672
750
1,365
2,825
735
1,524
3,171
966
1,627
3,207
950
3,359
1,057
1,697
3,437
1,114
1,720
' 3,559
' 1,110
'1,844
3,495
1,089
1,801
385
294
297
424
417
438
516
2,742
2,253
2,242
2,603
3,823
3,292
1,108
74
101
113
838
3,159
4,240
1,016
63
99
118
508
950
63
96
115
323
945
59
93
117
266
1,055
70
96
119
376
1,173
66
107
120
548
1,353
92
106
120
897
1,386
91
119
113
1,067
178.1
179.0
171.4
177.6
185.4
195.3
201.6
140.6
142.3
134.9
141.9
147.7
153.7
156.5
85.2
70.7
87.4
72.8
79.3
65.0
85.3
70.9
88.1
72.5
92.4
74.4
30.7
8.4
15.9
29.0
7.9
14.9
28.4
7.4
15.0
28.7
7.7
15.2
31.8
•9.2
16.2
4.6
4.5
4.7
4.5
4.9
New construction (unadjusted), total
mil. 5
Public, total 9 - Buildings (excluding military) 9
Housing and redevelopment
Industrial
Military facilities
Highways and streets
do.—
do..
do_.
do_.
..do..
...do..
28, 695
7,712
14,783
1,419
4,345
38, 311
37,827
13. 480
736
973
1,520
9,777
12, 751
959
1,146
1,517
9,372
New construction (seasonally adjusted at annual
rates), total
bil. $..
Private, total 9
do..
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
37.4
do..
Buildings (excludingmilitary) 9--Housing and redevelopment
Industrial
Military facilities
Highways and streets
1,661
469
485
544
4,863
4,797
'4,648
4,439
1,468
94
114
124
1,148
1,501
95
137
'128
1,413
1,494
'116
131
'146
1,271
1,421
103
120
117
1,318
205.8
208.3
206.4
209.2
' 209.9
212.8
160.6
159.9
158.0
161.3
'161.9
165.5
94.5
75.1
94.9
76.6
94.0
77.7
92.5
77.1
'94.2
76.8
'93.6
'76.9
95.8
79.3
33.2
9.2
17.2
34.2
8.7
18.5
37.3
11.3
19.2
37.7
11.2
19.5
37.6
12.0
38.2
12.6
18.9
'38.7
'12.6
'19.4
39.9
12.7
20.5
5.3
5.0
5.6
5.5
41.5
45.1
16.0
1.0
1.3
1.4
10.3
417
443
36.8
36.4
35.7
37.7
45.2
48.4
18.8
5.1
48.4
16.6
1.1
1.8
1.5
11.4
4,162
5.6
5.9
'48.0
-•47.9
47.3
'16.0
1.2
' 1.3
1.6
10.9
'15.8
1.1
'1.2
1.4
11.4
15.6
1.3
1.3
1.4
10.7
12.9
.8
1.3
1.3
9.0
12.4
1.1
1.4
8.5
12.7
Q
.y
1.2
1.4
8.4
13.1
Q
.y
1.1
1.5
7.4
13.8
Q
•y
1.0
1.4
8.1
14.8
g
L2
1.5
8.5
16.4
1.2
1.2
1.4
10.6
139,213 10,391
258
i 252
10,445
299
9,390
283
9,695
266
12,345
254
13,189
279
17, 785
332
14,169
'251
14, 711
286
15, 597
289
13,816
300
14,863
319
11,557
285
-do
do.
do.
do.
do.
Q
. O
16.7
1.0
1.6
1.5
9.8
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F. W. Dodge
Division, McGraw-Hill):
Valuation, total
mil. $__ 110,061
U99
Index (mo. data seas, adj.)
1967=100.
Public ownership
Private ownership
By type of building:
Nonresidential
R evidential
Non-building construction
New construction planning
(Engineering News-Record) 0
mil. $.
do
29,254
80,807
36,902
102,310
3,100
7,290
3,486
6,959
2,499
6,891
2,239
7,456
3,131
9,214
3,594
9,595
4,097
13, 688
3,551
10,618
3,569
11,141
3,857
11, 740
3,499
10,317
3,099
11,764
2,867
do.
do.
do.
30,035
44,169
35,857
35,299
61,433
42,481
3,107
5,281
2,003
3,370
4,305
2,770
2,809
3,884
2,697
2,905
3,862
2,929
3,429
6,139
2,776
3,470
6,854
2,864
4,538
7,652
5,596
3,768
7,722
2,679
4,534
6,710
3,466
3,945
6,910
4,742
4,572
6,317
2,926
4,141
0,821
3,901
3,532
5,921
2,104
do.
88,457
91,702
7,313
12,700
6,885
10,349
10,470
7,014
6,556
8,771
9,071
9,756
5,882
9,837
13,209
1,547.6
1,048.3
1,537.5
1,162.4
1,989.8
1, 377.9
1,987.1
1,450.9
155.9
110.0
154.8
109.3
129.4
95.3
129.2
87.1
88.6
67.5
88.6
63.3
101.3
75.2
101.3
72.8
172.3
121.6
172.1
121.4
197.5
141.8
197.5
139.9
211.1
146.2
211.0
154.9
216.1
149.7
216.0
154.3
192.3
131.2
192.2
139.3
190.9
181.1
• 192.1
157.7
120.3
190.9
140.0
180.5
124.6
192.1
131.1
157. 7
110.6
118.6
80.4
2,096
1,544
2,203
1,574
1,548
1,156
1,569
1,103
2,047
1,429
2,165
1,492
2,054
1,478
2,124
1,441
2,119
1,453
2,025
1,440
2,075
1,463
•2,106 ' 2,155
• 1,455 ' 1,558
2,125
1, 533
1,680
1,158
HOUSING STARTS AND PERMITS
New housing units started:
Unadiusted:
Total (private and public)
TnsirJp SMSA's
Privately owned
One-family structures
Seasonally adiusted at annual rates:
Total privately owned
One-family structures
tbous.
do...
d o . _.
do...
do.
do.
New private housing units authorized b y building
permits (14,000 permit-issuing places):
M o n t h l y data are seas. adj. at annual rates:
Total
thous..
One-family structures
do
Manufacturers' shipments of mobile homes:
Unadiusted
thous.
Seasonally adjusted at annual rates
do...
()
1,296
894
1,690
1,126
1,822
1,218
1,778
1,188
1,526
1,032
1,534
957
1,647
1,037
1,740
1,157
1,597
1,058
1,821
1,123
1,632
1,035
1,563
1,020
1,731
1,092
1,719
1,127
' 1,724
1,114
2 246. 1
277.0
'22.7
'320
'18.4
••319
' 18.9
'324
18.7
265
24.5
'285
23.1
252
26.5
258
26.3
263
20.1
232
27.9
283
24.1
272
25.7
300
22.2
312
CONSTRUCTION COST INDEXES
Dept. of Commerce composited 1
1972=100.
143.8
156.6
163.4
164.8
164.5
164.5
164.8
169.2
171.0
' 174.1
176.1
179.5
American Appraisal Co., The:
Average, 30 cities
Atlanta
New York
San Francisco
St. Louis
1913=100.
do...
do...
do.. _
do...
1,870
2,009
1,'
1,906
1,803
1,998
2,141
2,065
2,063
1,905
2,061
2,187
2,129
2,134
1,959
2,068
2,187
2,131
2,147
1,967
2,088
2,197
2,162
2,167
1,986
2,095
2,247
2,162
2,195
1,990
2,111
2,270
2,174
2,195
2,003
2,124
2,283
2,181
2,220
2,029
2,137
2,294
2,191
2,216
2,066
2,169
2,309
2,211
2,230
2,078
2,180
2,348
2,211
2,295
2,087
2,207
2,366
2,223
2,312
2,102
Boeckh indexes:
Average, 20 cities:
Apartments, hotels, office buildings!.1972=100.
Commercial and factory buildings
do...
Residences
do...
137.3
141.5
136.2
148.6
152.8
148.5
152.5
157.5
153.2
154.0
158.5
155.5
2
' Revised.
P Preliminary.
i Computed from cumulative valuation total.
Unadjusted data for Jan .-Dec. 1976 and seasonally adjusted data for Jan. 1974-Dec. 1976 will be
available later.
3 No longer available.
JData for new construction have been revised back to Jan. 1973. The revised data are
available from the Bureau of the Census, Washington, D.C. 20233.
OData for Dec. 1977, and Mar., June, Aug. and Nov. 1978 are for 5 weeks; other months,
4 weeks.
155.3
160.9
157.5
156.7
163.0
158.8
158.8
165.2
162.0
• 180.5 ' 183.1
2,218
2,374
2,229
2,321
2,111
2,244
2,389
2,298
2,338
2,122
184.3
2,249
2,388
2,297
2,336
2,121
2,254
2,379
2,324
2,332
2,154
160.7
167.5
166.4
9 Includes data for items not shown separately.
cfThis index has been revised to a new comparison base (1972=100); monthly data back
to Jan. 1964 are available upon request.
§These indexes are restated on the 1972=100 base; monthly data for earlier periods will be
available later.
1
SUKV KY (JJb (J UKKJWJNT .BUS. LJNES
January 1979
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1978
1977
1977
Annual
S-ll
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
251.0
262.6
252.3
263.3
254.5
265.4
254.8
265.4
256.3
266.4
i 256. 7
1
267.0
11.6
131
17.0
192
11.1
149
15.5
202
8.0
121
13.2
221
Nov.
Dec.
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES—Con.
Engineering News-Record:
Building
Construction
1967=100
do
210.9
223.4
228.6
240.0
Federal Highway Adm.—Highway construction:
ComDosite (avti for vear or otr )
1967=100
199.3
216.4
175.4
180.4
172.8
180.7
163.3
187.3
148.4
156.9
153.6
174.1
186.6
193.9
141.9
191.2
192.3
147.3
199.8
208.7
142.2
186.7
205.1
139.1
186.5
156.3
124.9
187 1
91.7
129.2
186.9
110 8
161.9
212.7
188.1
158.9
194.2
226 5
176.4
209.6
268 6
180.9
205.0
297 8
153.2
177.6
261 6
95.0
113.3
183.4
211.8
9.1
117
15.4
190
6.7
95
12.8
205
7.2
116
15.3
226
7.2
96
13.7
181
10.4
111
18.1
191
11.0
134
18.9
215
12.0
114
16.3
171
9.7
102
16.7
178
10.9
133
15.4
186
237.2
247.6
237.7
248.5
237.7
248.8
239.0
249.6
233.0
239.5
250.7
240.0
251.2
244.6
254.4
219.5
246.2
256.3
296 1
258 1
CONSTRUCTION MATERIALS
Output index:
Composite unadjusted 9 cf
Seasonally adjusted cf
1947-49=100
- . do
Iron and steel products, unadjusted
do
Lumber and wood products, unadjusted.do
Portland cement unadjusted
do
r
173.8
»• 207.2
T
301.2
159.0
198.4
266 9
11.1
124
17.7
185
8.6
102
14.9
188
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 by—
Fed. Hous. Adm.: Face amount
mil. $.. 6,362.12 8,840.84 895. 80 543.88 811.39 785.78 963.10 714.60 868.92 805.68 886.60 1,049. 48 867. 76 1,916.27 905.02 565.36
Vet. Adm.: Face amount§
d o . . 10,414.77 13,753 02 1,311.79 1 216 71 1,586.68 1,411 86 1 344 91 988.96 1,180.30 1,108.57 1,178.68 1,319 00 1,536.24 1,178.75 1,115.62 1,176 51
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
15, 862
20,173
18,492
20,173
20,422
20,845
21,278
22,957
23,664
25,274
26,605
27,869
29,158
78,776
107,368
9,138
9,233
7,115
6,828
9,418
9,026
10,436
11,472
9,031
10,398
9,305
r
9,674
9,016
14,812
48,245
15 719
20, 717
66,060
20,591
1,780
5,550
1 808
1,752
5,448
2,033
1,380
4,212
1,523
1,364
4,022
1 442
2,113
5,501
1 804
2,011
5,260
1,755
2,259
6,423
1,754
2,266
7,358
1,848
1,811
5,756
1,464
1,981
6,830
1 587
1,807
6,049
1,449
" 2,017
r 6,077
r
1 580
1,744
5, 706
1,566
3,558
3,764
259
322
310
379
385
370
311
355
351
320
'295
302
311
218
235
260
191
180
234
261
257
196
218
238
271
269
197
207
247
274
281
216
208
244
267
211
212
212
257
288
265
228
236
248
286
259
224
205
252
291
284
204
217
257
285
287
221
228
193.5
7.6
19.5
4.1
17.7
18.0
212.7
9.2
20.9
6.0
19.8
15.7
231.0
'8.7
22.8
189.7
22.0
14.3
12.9
14.7
4.8
30,104
30,975
32,670
number..
Fire losses (on bldgs., contents, etc.)...
mil. $..
DOMESTIC TRADE
ADVERTISING
McCann-Erickson national
seasonally adjusted:
Combined index
Network TV
Spot TV
Magazines
Newspapers.
advertising
index,
1967=100.
.do....
..do....
do
do
180
191
215
143
175
207
231
223
172
197
222
259
234
182
205
Magazine advertising (general and natl. farm magazines) :
Cost, total..
mil. $.. 1,626.7
Apparel and accessories
do
57.8
Automotive, inch accessories
do
142.3
Building materials
do
28.1
Drugs and toiletries
...do
167.4
120.7
Foods, soft drinks, confectionery
do
1,965.4
69.6
176.6
36.2
201.8
150.5
222,3
111.0
83.4
47.0
25.0
161.8
682.0
8.6
217
237
238
193
193
177.6
130.3
215
234
250
188
212
160.2
47.4
259.2
67,702
32,279
35,423
63,931
30,404
33,527
32,242
36,844
67,834
30,877
36,957
11.3
3.7
4.5
2.5
9.5
3.3
2.5
9.8
3.9
2.8
17.2
87.9
18.4
94.0
18.1
72.7
18.0
59.5
16.3
53.3
555.6
15.5
152.8
16.2
69.6
301.4
621.0
14.4
177.5
19.8
84.4
324.8
600.8
13.7
165.5
19.2
80.7
321.6
578.2
12.9
165.8
23.3
73.9
302.3
523.2
10.9
172.9
17.1
50.9
271.3
488.7
10.8
162.7
62,900
28,985
33,915
60,613
28,784
31,829
66, 249
30,405
35,844
65,834
30,991
34,843
60,651
28,701
31,950
18.9
14.8
5.1
22.5
10.3
2.5
7.2
6.7
4.0
2.1
19.5
91.1
17.5
69.9
14.7
56.8
16.1
65.4
13.0
13.2
4.8
4.3
16.0
75.2
5,352.0
127.0
1,341.8
147. 6
731.0
3,004.6
5,996.7
154.5
1,569.6
160.8
803.6
3,308.0
584.2
14.1
128.5
14.5
81.6
345.5
524.8
105.9
14.6
56.1
340.1
488.2
11.1
142.0
18.4
67.7
249.0
458.5
13.7
129.7
11.3
64.4
239.4
Merchant wholesalers sales (unadj.), total O mil. $.. 580,894
Durable goods establishments
do.
240,732
Nondurable goods establishments
do.
334,162
642,104
285,605
356,498
56,034
25,340
30,694
56,244
24,797
31,427
52,143
22,869
29,274
52,766
23,880
28,886
8.3
663.6
14.5
155.0
19.9
91.2
382.9
17.5
11.3
18.6
6.9
3.2
132.3
112.8
49.5
33.9
194.5
807.7
Newspaper advertising expenditures (64 cities): ©
Total
mil. $.
Automotive
do...
Classified
do...
Financial
do...
General
do
Retail
do...
578.1
12.8
174.0
16.2
72.9
302.2
16.5
18.1
16.1
13.5
3.4
497.9
11.4
158.0
11.8
59.8
257.0
13.9
13.4
12.3
8.7
3.8
3.0
22.8
18.1
5.8
4.0
18.2
108.5
2.1
13.7
14.3
2.1
17.5
13.3
3.7
20.0
15.7
6.3
2.9
19.0
108.4
3.9
19.7
14.9
1.8
18.6
18.4
8.9
13.8
13.9
5.5
3.3
16.0
99.9
6.0
17.5
Beer, wine, liquors
do.
Household equip., supplies, furnishings..do..
Industrial materials
do.
Soaps, cleansers, etc
do.
Smoking materials
do.
All other
do.
5.6
23.1
18.5
263.5
9.5
26.1
4.4
21.6
24.6
146.9
13.8
12.1
8.8
162.9
3.5
3.7
13.7
2.2
5.1
17.8
3.8
20.9
3.2
5.9
226
247
267
182
211
19.5
6.1
2.4
8.6
215.9
11.8
12.4
5.1
19.8
16.3
259.5
« 10.8
«29.2
WHOLESALE TRADE O
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total O mil. $. 62,056
68,555 68,082 68,555 69,596
Durable goods establishments
do...
43,676 43,252 43,676 44,287
37,628
Nondurable goods establishments
do...
24,879 24,830 24,879 25,309
24,429
1
^Revised.
"Preliminary.
Index as of Jan. 1, 1979: Building, 257.5; construction
267.4.
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 rate
on p. S-18.
eSource: Media Records, Inc. 64-City Newspaper Advertising Trend Chart.
& Monthly
revisions back to Jan. 1974 will be shown later.
71,156 73,931 74,635 74,634 74,882 74,874 74,943 76,074 78,715 80,145
45,757 47,275 47,957 48,918 49,627 49,900 49,841 49,944 50,462 50,907
25,399 26,656 26,678 25,716 25,255 24,974 25,102 26,130 28,253 29,238
©Beginning Nov. 1977 SURVEY, data revised to reflect new sample design, benchmarking
to the 1967 and 1972 Censuses, conversion of the classifications to the 1972 SIC, addition of
farm assemblers and bulk petroleum establishments, and revision and updating of seasonal
factors. Revisions back to Jan. 1967, as well as a summary of the changes, appear in the report,
Monthly Wholesale Trade: January 1967-August 1977 (Revised) available from the Census
Bureau, Washington, D.C.
20233.
The revisions back to 1967 also appear on p. 34fi of the
C
May 1978 SURVEY.
Corrected.
SUE
S-12
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
OF CUKEENT
January 1979
1977
1977
Nov.
Annual
1978
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
DOMESTIC TRADE—Continued
RETAIL TRADE
All retail stores: J
Estimated sales (unadj.), totals
mil. $. 642,507
210,530
Durable goods stores 9 . .
do
Building materials, hardware, garden supply,
and mobile home dealers 9
mil. $__ 32,226
22,206
Building materials and supply stores.do
5,659
Hardware stores. _
_
do
61,975
74,219
52,146
52,479
62,391
66,368
67,475
65,076
67,539
64,754
67,063
69,243
81,809
238,815 20,049
21,228
16,314
17,230
21,863
22,227
24,059
24,656
22,975
23,899
21,658
23,621
23,266
25,064
2,419
1,664
387
10,710
9,872
838
3,116
2,139
503
4,027
2,681
624
14,831
13,698
1,133
4,186
2,927
14,008
12,940
1,068
3,592
2,409
570
13,832
12,715
1,117
4,012
2,870
584
13,764
12,593
1,171
4,247
3,110
581
14,092
12,869
1,223
3,982 '4,163 '3,845 13,488
2,890 ' 3, 015 2,720
'623
599
12,262 13,882 13,060 12,233
11,074 ••12,634 11,800
1,248
1,260
1,188
708,344
3,229
2,307
555
2,963
1,928
648
11,551
10,448
1,103
10,927
9,812
1,115
2,304
1,591
389
9,976
9,071
905
do.
do.
do.
125,685
115,596
10,089
37,958
26,706
6,431
143,682
131,418
12,264
Furniture, homefurn., and equip
do.
Furniture, home furnishings stores...do.
Household appliance, radio, TV
do.
31,368
18,665
9,784
34,499
20,843
10,654
3,179
1,937
966
3,815
2,058
1,328
2,513
1,515
770
2,523
1,541
732
2,882
1,761
845
2,887
1,830
800
3,059
1,938
865
3,091
1,946
3,009
1,860
879
3,210
2,005
926
do.
do.
do.
do.
431,977
79,258
62,900
7,598
469,529
89,231
71,583
7,958
41,926
8,986
7,290
706
52,991
14,572
11,817
1,308
35,832
5,368
4,325
450
35,249
5,488
4,404
482
41,471
7,317
5,867
643
40,164
7,420
5,987
613
42,309
7,960
6,401
662
42,473
8,049
6,492
660
42,101
7,443
5,937
637
do..
do..
...do..
145,939
136,100
51,265
156,313
145,900
56,538
13,135
12,265
4,721
14,894
13,787
4,918
12,880
12,043
4,537
12,617
11,796
4,313
14,333
13,374
4,804
13,675
12,759
4,787
14,328
13,347
5,049
14,732
13,737
5,147
Apparel and accessory stores
_do.
Men's and boys' clothing
do.
Women's clothing, spec, stores, furriers .do.
Shoe stores...
_
do.
33,188
33,527
3,166
675
4,899
1,088
2,217
458
2,080
402
2,847
509
2,729
511
2,817
517
12,702
5,575
58,008
20,716
12,734
6,099
12,814
5,832
1,206
609
1,847
720
829
413
814
364
1,116
555
1,063
514
63,891
22,380
13,084
6,751
5,261
1,849
1,106
878
5,491
2,685
1,583
702
4,857
1,820
4,761
1,793
5,610
2,010
1,044
5,750
1,883
1,087
61,650
61,813
20,795
20,674
19,914
20,445
20,897
21,807
21,821
3,260
2,300
536
3,149
2,224
513
3,224
2,096
do..
do..
do..
12,460
11,357
1,103
12,393
11,343
1,050
529
12,095
10,982
1,113
3,341
2,247
542
12,642
11,564
1,078
Furniture, home furn., and equip. 9 — do..
Furniture, home furnishings stores. _ .do.
Household appliance, radio, TV
do_.
3,030
1,833
934
3,008
1,807
941
2,793
3,382
2,181
520
12,160
11,105
1,055
2,921
1,761
857
2,887
1,737
867
3,559
2,473
556
13,135
12,064
1,071
3,055
1,900
870
3,518
2,446
557
13,069
12,005
1,064
3,101
1,915
916
Automotive dealers 9 —
Motor vehicle dealers
Auto and home supply stores._
Nondurable goods stores..
General merch. group stores
Department stores.._
_
Variety stores
Food stores...
_.
Grocery stores
Gasoline service stations.
Eating and drinking places
do
Drug and proprietary stores
do
Liquor stores
do
Mail-order houses (dept. store mdse.)§..do
Estimated sales (seas, adj.), totals
do
Durable goods stores 9
__do
Building materials, hardware, garden supply,
and mobile home dealers 9
mil. $.
Building materials and supply stores.do...
Hardware stores__
do...
Automotive dealers
Motor vehicle dealers
Auto and home supply stores
945
928
15,133
13,913
1,220
3,212 '3,466
1,975
2,121
1,024
4,151
43,640
8,107
6,490
683
43,096 43,442 45,977
7,967 ••8,200 '9,805
6,438 '6,579 '7,846
-664
637
755
56,745
15,394
12,252
14,806
13,829
5,173
14,653
13,670
5,275
14,737 • 14,211 14,627 16,068
13,780 •13,188 13,582 14,814
5,083 ' 5,155 ' 5,052 i 5,262
2,804
537
2,674
485
3,098
529
3,136 '3,168 '3,484 15,429
'581
527
1,096
515
1,079
553
1,071
547
1,221
642
1,279
579
6,055
2,000
1,092
6,251
2,009
1,145
6,426
1,957
1,188
502
6,558
2,048
1,168
6,166
1,982
1,154
440
437
598
543
537
500
59,987
61,548
62,649
63,917
64,292
64,565
1,704
842
22,092
3,619
2,543
568
64,343
21,844
3,641
2,560
553
12,774
11,704
1,070
592
555
65,862
66,347
22,908
22,812
3,772
2,673
599
13,395
12,156
1,239
3,220
1,987
939
3,039
1,873
3,059
1,883
872
3,801
2,688
573
13,600
12,434
1,166
3,171
1,932
945
13,232
12,151
1,081
3,120
1,900
1,349
587
5,743 16,070
2,108 i 2,920
1,197
'1,285
'563
' 2,045
" 1,130
781
'67,389
908
'68,181
'23,723
' 3,923
' 2,738
'625
•13,954
• 12,710
'1,244
' 3,215
' 1,950
'962
68,889
124,402
r
3,873
2,675
610
13,831 114,3
12,607
1,224
r
3, 222 *3,266
1,942
977
r
Nondurable goods stores
General merch. group stores
Department stores
Variety stores
do.
do.
do.
do.
40,855
7,822
6,306
641
41,139
8,276
6,646
696
40,073
7,432
6,066
628
41,103
7,763
6,309
41,752
7,866
6,336
659
42,110
8,026
6,425
694
42,471
8,160
6,538
695
42,473
8,215
6,618
685
42,499
8,141
6,531
709
42,954
8,204
6,596
687
43,535 •43,790 44,458 144,487
8,277 ' 8,251 '8,507 18,642
6,644 r 6,592 '6,746 i 6,856
704
'687
680
Food stores...
_
Grocery stores
Gasoline service stations
.do..
do_.
do_.
13,569
12,644
4,798
13,406
12,410
4,898
13,636
12,704
4,796
13,906
12,977
4,952
13,900
12,947
4,983
14,218
13,291
4,900
14,342
13,374
4,916
14,263
13,324
4,930
14,381
13,452
4,803
14,383
13,441
4,907
14,511 •14,743 14,866 14,803
13,523 •13,737 13,789 U3,666
5,028 '5,064 r 5,155 i 5,210
Apparel and accessory stores
do.
Men's and boys' clothing
do
Women's clothing, spec, stores, furriers .do
Shoe stores
.._
do.
3,027
640
1,140
541
2,875
568
1,123
515
2,723
533
1,017
502
2,755
537
1,054
485
2,885
549
1,148
509
3,009
573
1,184
539
2,953
548
2,924
522
1,133
534
1,127
536
2,986
552
1,193
501
3,147
585
1,255
532
3,164 r 3,139 ' 3,270 13,205
650
'596
586
1,268 ' 1,215 1,258
568
'562
527
Eating and drinking places
_do
Drug and proprietary stores
do
Liquor stores
do
Mail-order houses (dept. store mdse.)§.do
5,486
1,894
1,106
576
5,469
2,008
1,089
580
5,415
1,944
1,104
609
5,510
1,957
1,101
550
5,772
1,992
1,106
574
5,808
1,999
1,064
5,783
1,996
1,117
590
5,853
1,999
1,138
597
5,917
2,018
1,137
607
6,000
2,094
6,081 ' 6,051 -•5,933 i 6,107
2,084 ' 2,110 ' 2,169 i 2,181
1,200 ' 1,170 1,182
602
591
594
76,115
35,895
6,083
18,031
6,070
85,148 90,527
40,372 40,434
6,659 6,705
20,296 19,519
7,197 7,301
85,148
40,372
6,659
20,296
7,197
85,092 86,333
40,927 41,662
6,875 7,180
20,665 20,917
7,116 7,157
89,825
42,670
7,352
21,424
7,304
90,953
43,029
7,480
21,398
7,504
91,514
43,281
7,479
21,381
7,519
91,502
42,804
7,516
20,959
7,493
91,326
42,137
7,439
20,295
7,507
91,363
40,464
7,344
18,395
7,629
93,447
40,904
7,356
18, 525
7,702
97,645
42,589
7,321
_do_.
.do.
.do.,
.do..
do...
40,220
13,660
10,061
8,880
6,693
44,776 50,093
16,571 20,382
12,215 15,204
9,198 9,166
7,282 8,237
44,776
16,571
12,215
9,198
7,282
44,165 44,671
16,502 16,911
12,136 12,266
8,948 8,963
6,982 7,172
47,155
18,561
13,662
9,280
7,366
47,924
19,351
14,283
9,233
7,503
48,233
19,599
14,465
9,379
7,486
48,698
19, 777
14,555
9,564
7,471
49,189
20,115
14,516
9,541
7,671
50,899
21,133
15,147
9,616
8,003
52,543
22,233
15,961
9,712
8,370
55,056
23,731
17,157
10,085
8,654
56,233
24,310
17,742
10,379
8,847
Book value (seas, adj.), total t
do
Durable goods stores 9
do. .
Building materials and supply stores.do...
Automotive dealers
do.
Furniture, home furn., and equip d o . . .
78,045
36,417
6,336
18,195
6,064
87,073
40,534
6,936
20,055
7,190
86,299
40,087
6,828
19,756
6,973
87,073
40,534
6,936
20,055
7,190
87,708 87,642
41,060 41,369
7,066 7,173
20,300 20,249
7,269 7,348
89,097
41,521
7,166
20,269
7,423
89,963
41,881
7,262
20,360
7,565
91,063
42,300
7,254
20,480
7,587
91,543
42,036
7,333
20,329
7,531
92,470
42,359
7,461
20,377
7,590
93,680
42,640
7,396
20,394
7,675
42,565
7,438
20,290
7,596
94,301
43,039
7,395
20,699
7,659
95,930
44,087
7,525
21,398
7,670
Estimated inventories, end of year or monthrf
Book value (unadjusted), totalf
mil. $_
Durable goods stores 9
do...
Building materials and supply stores-do...
Automotive dealers
do...
Furniture, home furn., and equip do__.
Nondurable goods stores 9
General merch. group stores
Department stores
Food stores
Apparel and accessory stores
1,163
575
100,723
44,490
7,390
19, 705 21,141
7,935 8,023
46,648 46,273 47,576 48,082 48,763 49,507 50, 111 51,040 51,099 51,262 51,843
18,237 18,087 18,952 19,384 19,667 20,039 20,389 20,929 21,281 21,314 21,634
13,455 13,203 13,927 14,254 14,465 14,807 14,873 15,117 15,347 15,305 15,536
9,849 9,980
9,800
9,822
9,696
9,417
9,261
9,641
9,317
9,038 9,044
7,939 8,102
7,911
7,932
7,860
7,608
7,564
7,686
7,418
7,581 7,494
r
seasonally adjusted data for motor vehicle dealers, total automotive dealers, total durable
Revised.
i Advance estimate.
^Effective Nov. 1977 SURVEY OF CURRENT BUSIm a t e s h a v e l)een
goods, and total retail stores have been revised back to Jan. 1977; earlier revisions are on p
^•irf™
^vised to reflect a new sample design, benchmarking to the 1967
56 of the Oct. 1978 SURVEY. 9 Includes data not shown separately.
§Includes sale of
and 1972 Censuses, redefinition of sales to exclude sales taxes and finance charges, classificamail-order catalog desks within department stores of mail-order firms. tSeries revised,
tions based on the 1972 Standard Industrial Classification (SIC), and revision and updating
beginning Jan. 1967, to reflect the 1972 SIC designations. Revised historical data appear
of seasonal adjustment factors. Revisions back to Jan. 1967, as well as a summary of the
on p. 34 ft. of the May 1977 SURVEY.
changes, appear m the report, Monthly Retail Sales: January 1967-August 1977 (Revised),
available from the Census Bureau, Washington, D.C. 20233.
Effective Oct. 1978 SURVEY,
Nondurable goods stores 9
General merch. group stores...
Department stores
Food stores
Apparel and accessory stores
do...
. do
do
do...
do"]]
41,628
14,893
10,960
8,732
7,016
46,539 46,212
18,097 18,116
13,321 13,313
9,053 8,805
7,641 7,536
46,539
18,097
13,321
9,053
7,641
S-13
SURVEY OF CURRENT BUSINESS
January 1979
1977
1976
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1978
1977
Annual
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
219.19
219. 34
DOMESTIC TRADE—Continued
RETAIL TRADEJ—Continued
Firms with 11 or more stores:
Estimated sales (unadjusted), totalt
mil. $.
Durable goods stores
_
Auto and home supply stores
do...
do...
Nondurable goods stores 9
General merchandise group stores
Department stores
Variety stores
Miscellaneous general stores
_..do...
do...
do
_._do...
do...
Food stores
do...
Grocery stores
do...
Apparel and accessory stores 9
do
Women's clothing, specialty stores, furriers
mil. $_.
Family clothing stores
_
do
Shoe stores
_
do
Eating places
_
Drug stores and proprietary stores
Estimated sales (seas, adj.), totalt 9
Auto and home supply stores...
Department stores..
Variety stores.
Grocery stores
do...
do...
do...
do...
do..I
do...
do.
Nondurable goods stores
Charge accounts
Installment accounts
Total (seasonally adjusted)
Durable goods stores
Nondurable goods stores
Charge accounts
Installment accounts
22,783
30,601
17,556
17,477
21,496
20,944
22,073
22,380
21, 611
22,570
'22,548
22,805
1,674
269
2,207
274
1,162
204
1,194
190
1,508
262
1,743
266
1,788
287
1,724
267
1,782
275
1,733
272
1,788
282
0)
0)
0)
0)
0)
(0
0)
21,109
8,092
6,898
553
641
28,394
13,149
11,165
1,043
941
16,394
4,764
4,109
329
326
16,283
4,875
4,183
359
333
19,988
6,511
5,565
493
453
1,607
294
19,337
6,607
5,686
459
462
20,330
7,096
6,082
496
518
20,592
7,184
6,176
500
508
19, 887
6,604
5,649
481
474
20,788 r20,815
7,224 '7,111
6,176 r 6 , i l l
521
M97
527
21,017
7,310
6,229
513
568
7,153
7,073
8,161
8,046
7,022
6,939
6,877
6,792
7,876
7,776
7,406
7,325
7,649
7,567
7,878
7,798
7,873
7,790
7,683
7,602
'7,985
'7,907
7,559
7,480
0)
1,145
1,788
673
1,032
1,017
1,007
931
1,162
' 1,166
1,145
(0
0)
0)
463
272
262
747
467
366
276
163
183
287
158
163
432
226
279
404
224
243
432
241
247
422
233
242
406
222
212
'273
280
'494
'254
'296
491
249
276
0)
0)
0)
999
870
1,050
1,440
932
862
921
825
1,122
974
1,130
1,203
950
1,198
970
1,236
'1,171
940
1,203
966
21,525
271
7,152
21,917
256
6,280
555
7,178
20,703
255
5,723
480
7,213
21,264
252
5,993
489
7,488
21,476
251
5,984
498
7,484
22,249
268
6,140
517
7,760
22,222
245
6,187
524
7,674
22,243
246
6,232
519
7,C68
'22,690
285
r6,300
'531
r 7,714
22,797
275
6,223
534
7,648
1,089
443
260
919
1,023
418
243
952
925
373
233
423
229
1,020
439
253
971
1,077
464
265
974
1,089
461
274
962
1,058
446
263
975
1,111
474
259
994
1,138 '1,117
'460
477
'266
254
976
1,127
470
276
1,007
0)
0)
0)
0)
0)
0)
0)
Apparel and accessory stores.
do...
Women's clothing, spec, stores, furriers.do.
Shoe stores
do...
Drug stores and proprietary stores
dol^l
All retail stores, accts. receivable, end of yr. or mo.:
Total (unadjusted)
...mil. $
Durable goods stores
do.."
0)
0)
(0
5,967
502
'1,238
978
22, 761 22,432
258
256
6,283
6,249
540
538
7,527
7,853
32,153
9,515
22,638
34,149
10,089
24,060
31,733
10,097
21,636
34,149
10,089
24,060
32,454
9,445
23, 009
31,692
9,369
22,323
31,650
9,531
22,119
31,599
9,817
21,782
31,915
9,963
21, 952
32,212
10,203
22,009
32,147
10,375
21, 772
32,534 •32,879
10,490 10,501
22,044 •22,378
33,452
10,647
22,805
12,889
19,264
10,659
23,490
10,200
21, 533
10, 659
23,490
9,928
22,526
9,823
21,869
10, 011 10,029
21, 639 21,570
10,171
21,744
10,399
21,813
10,513
22,021
10,589
22,290
10,882
22,570
do.
do"
do'.
30,323
9,481
20,842
32,018
10,019
21,999
31, 547
10,102
21,445
32,018
10,019
21,999
31,966
9,790
22,176
32,020
9,838
22,182
32,275
9,919
22,356
32,030
10,010
22,020
31,950
9,880
22,070
32,362
9,933
22,429
10,319
21,828
32, 807
10,195
22, 612
33,101 •33,2G2
10,312 •10,204
22,789 •23,058
33,683
10,376
23,307
do.
12,591
17, 732
10,490
21,528
10,145
21,402
10,490
21,528
10,281
21,685
10,346
21,674
10,371
21,904
10,077
21,953
9,820
22,130
10,097
22,265
10, 381
22,426
10,749 10,685
22,352 •22,577
10,804
22,879
dolll
do...
""doIII
IZIIZIdoI
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, incl. armed forces overseast
mil.
J
215.14
2
216.82
217.48
217.61
217.74
217.84
217.94
218. 09 218.22
218. 36 218.50
218.67
218. 86 219.03
LABOR FORCER
Not Seasonally Adjusted
Labor force, total (including armed forces), persons
16 years of age and over
thous
Civilian labor force
do
Employed, total
"do
Agriculture.
_.
do
Ncnagricultural industries."III
"do"""
Unemployed.
Illldol"!'
Seasonally Adjusted^
Civilian labor force
do
Employed, total
do
Agriculture
...I"
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 ard over
Women, 20 years and over."
Both sexes, 16-19 years
White
Black and other
"II"!
Married men, wife present..V.I."III.'_'_"
Occupation: White-collar workers..
Blue-collar workers .
Industry of last job (nonagricultural):
Private wage and salary workers
Construction
._
Manufacturing..
Durable goods
96,917
94,773
87,485
3,297
84,188
7,288
99,534 100,951 100,832 100,071
97,401 18.S19 98, 503 97,950
90,546 92,473 92, 623 91, 053
3,181
3,244
2,914
2,868
87,302 89,292 89, 710 88,185
6,346
6,855
5,880
6,897
98,877
92,214
3,357
88,857
98, 919 99,107
92,609 92,881
3,323 3,354
89, 286 89, 527
100,048 100,565 100, £84
97,924 98,443 £8,866
91,185 91,664 93,180
2,913 3,151
2,771
88,413 89,051 90,029
6,479 5,685
6,739
99,093
93,003
3,242
89,761
99,414
93,266
3,310
89,956
101,422 104,276 104,755 104,169 102,961 103,677 103,776 103,740
99,309 102,178 102,639 102,047 100,838 101,555 101,659 101,632
93,851 95,852 96,202 96,116 95,041 96,095 96,029 95,906
2,990
3,100
3,369 3, 983 3,997 3,856 3,549 3,553
90,483 91,869 92,204 92,261 91,492 92,541 92,929 92,916
5,797 5,460
5,725
5,629
5,457 6,326 6,438 5,931
99, 784 100,261 100,573 100,618 100,549 100,870 101, 062 101,647 '101,867
93,801 94,112 94,819 94,425 94, 581 94,868 95,192 95,735 95,855
3,380
3,265
3,387
3,275 3,235 3,473 3,387 3,360 3,411
90, 526 90,877 91,346 91,038 91, 221 91,457 91,811 92,470 92, 468
2,339
1,911
6,663
1,829
6,310
1,797
6,226
1,688
6,090
1,568
6,148
1,463
5,983
1,384
6,149
1,358
5, 754
1,23)
6,193
1,292
5,968
1,215
6,002
1,293
5,870
1,370
5,912
1,251
6,012
1,208
7.7
5.9
7.4
19.0
7.0
5.2
7.0
17.7
6.7
4.7
6.9
17.3
6.4
4.6
6.6
15.6
6.3
4.7
6.1
16.0
6.1
4.5
5.7
17.4
6.2
4.5
5.8
17.3
6.0
4.2
5.8
16.9
6.1
4.2
6.3
16.5
5.7
3.9
6.1
14.2
6.2
4.1
6.5
16.3
5.9
4.1
6.1
15.6
6.0
4.0
6.0
16.6
5.8
4.0
5.6
16.3
5.8
4.0
5.8
16.2
16.5
7.0
13.1
4.2
6.2
13.1
3.6
5.9
13.7
3.3
5.5
12.7
3.2
5.5
12.7
2.9
5.3
11.8
2.9
5.3
12.4
3.0
5.2
11.8
2.8
5.2
12.3
2.9
4.9
11.9
2.7
5.3
12.5
2.7
5.2
11.7
2.8
5.3
11.2
2.7
5.1
11.4
2.7
5.0
11.8
2.5
5.2
11.5
2.5
4.6
9.4
4.3
8.1
4.2
7.6
4.0
7.2
3.6
7.1
3.5
7.1
3.4
7.1
3.5
6.5
3.6
6.6
3.5
6.5
3.8
6.9
3.5
7.0
3.3
6.9
3.3
6.6
3.5
G.8
6.1
11.5
5.7
5.0
6.0
11.3
5.4
4.8
5.9
9.5
5.3
4.4
5.9
9.2
5.6
5.0
5.6
9.3
5.6
4.8
6.0
9.5
5.6
5.1
3.5
7.0
5.9
9.1
5.7
5.5
5.9
10.7
5.5
5.0
5.7
11.5
5.3
4.8
5.7
10.6
5.3
4.8
12.1
5.0
4.4
p e r i o d s p r i o r t 0 M a y 1977 a r e n O t
If Effective with the Feb. 1977 SURVEY, the labor force series reflect new seasonal factors.
Data have been revised back to 1972; comparable monthly figures for 1972-75 appear in EMPLOYMENT
AND EARNINGS (Feb. 1977), U.S. Department of Labor. Bureau of Labor Statistics.
a
Dec. 78 data for the civilian labor force, seasonally adjusted, series are not comparable
with those shown for earlier periods. Comparable/revised data for earlier periods will be
available at a later date.
SURVEY OF CURKENT BUSINESS
S-14
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
Annual
1978
1977
Nov.
January 1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Nov.p
Dec. '
88,043
72,333
Oct.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT^
Employees on payrolls of nonagricultural estab.:O
Total, not adjusted for seasonal variation., thous. _
Private sector (excl. government)
do
79,382
64,511
82,256
67,177
84,276
68,786
84,464
68,982
82,724
67,372
82,962
67,363
83,897
68,171
85,075
69,309
85,796
69,988
86,800
71,109
85,925
70,996
86,134
71,375
' 87,303 ' 87,779
71,556 ' 71,745 ' 72,076
Total employees, nonagricultural payrollsfOdo
Private sector (excl. government)
do
Nonmanufacturing industries
do
Goods-producing
do
Mining
.do
Contract construction
do
79,392
64,511
45,514
23,352
779
3,576
82,256
67,177
47,530
24,289
809
3,833
83,549
68,286
48,437
24,617
840
3,928
83,719
68,451
48,467
24,626
687
3,955
83,871
68,557
48,492
24,648
678
3,905
84,188
68,838
48,699
24,724
684
3,901
84,726
69,291
49,061
24,927
698
3,999
85,418
69,901
49,619
25,313
867
4,164
85,618
70,056
49,759
25,341
869
4,175
85,996
70,399
50,083
25,473
879
4,278
86,033
70,476
50,174
25,501
882
4,317
86,149
70,613
50,335
25,463
887
4,298
86,163
70,718
50,432
25,471
887
4,298
87,020
71,548
50,948
25,870
'902
'4,368
87,270
70,974
50,250
26,039
902
4,413
Manufacturing.
.do
Durable goods__
do
Lumber and wood products
do
Furniture and
fixtures
do
Stone, clay and glass products
do
Primary metal industries
do
Fabricated metal products©
do
Machinery, except electrical
do
Electrical equipment and supplies._do
Transportation equipment©
do
Instruments and related prod.©
do
Miscellaneous manufacturing
do
18,997
11,077
680
444
644
1,155
1,511
2,065
1,774
1,799
575
429
19,647
11,573
722
463
668
1,179
1,577
2,179
1,868
1,862
615
439
19,849
11, 746
745
475
680
1,180
1,608
2,232
1,903
1,860
623
440
19,984
11,851
756
481
685
1,180
1,617
2,251
1,912
1,895
628
446
20,065
11,917
754
484
689
1,186
1,625
2,259
1,923
1,917
632
448
20,139
11,986
756
487
691
1,193
1,638
2,271
1,935
1,928
635
452
20,230
12,041
752
491
692
1,189
1,639
2,289
1,951
1,944
639
455
20,282
12,076
751
491
699
1,192
1,646
2,309
1,951
1,936
644
457
20,297
12,093
745
489
700
1,197
1,652
2,311
1,952
1,942
649
456
20,316
12,109
747
486
701
1,197
1,645
2,332
1,962
1,929
654
456
20,302
12,138
743
485
698
1,199
1,643
2,345
1,977
1,937
660
451
20,278
12,146
743
481
692
1,205
1,646
2,351
1,975
1,941
661
451
20,286 ' 20,436 ' 20,600
12,166 ' 12,305 ' 12,409
744
748
759
484
480
'487
692
'701
••696
1,220 ' 1 , 2 3 6
1,214
1,650 ' 1,667 ' 1 , 6 8 5
2,358 ' 2 , 3 9 1 ' 2 , 4 0 4
1,972 ' 1,987 ' 1 , 9 9 9
1,943 ' 1,991 ' 2 , 0 0 9
662
••665
'672
451
'457
'456
20,724
12,490
765
490
706
1,243
1,700
2,422
2,006
2,024
676
458
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 ccal products
do
Rubber and plastics products, n e c d o
Leather and leather products
do
7,920
1,689
77
919
1,318
676
1,099
1,042
198
640
263
8,074
1,703
74
914
1,312
693
1,338
1,071
202
712
253
8,103
1,693
71
918
1,318
693
' 1,152
1,073
205
726
254
8,133
1,700
74
917
1,320
697
1,156
1,076
206
734
253
8,148
1,706
74
917
1,318
699
1,159
1,079
207
737
252
8,153
1,705
74
917
1,315
699
1,163'
1,081
208
738
253
8,189
1,718
76
916
1,319
703
1,171
1,081
209
744
252
8,206
1,715
74
911
1,330
706
1,174
1,085
210
748
8,204
1,701
75
913
1,326
709
1,180
1,093
207
747
253
8,207
1,702
76
908
1,325
709
1,186
1,091
209
749
252
8,164
1,688
73
909
1,307
710
1,187
1,091
207
749
243
8,132
1,670
1,309
698
1,188
1,089
209
746
251
8,120
1,665
70
907
1,309
697
1,178
1,088
209
744
253
' 8,131
1,667
71
'907
' 1,307
692
' 1,185
1,089
210
752
251
' 8,191
' 1,692
71
910
'1,308
700
' 1,198
1,094
'210
'780
'248
8,234
1,710
71
911
1,314
701
1,208
1,094
211
767
247
do..
do..
do..
do_.
do..
56,030
4,582
17,755
4,546
13,209
57,968
4,696
18,492
4,697
13,795
58,932
4,736
18,830
4,761
14,069
59,093
4,749
18,911
4,783
14,128
59,223
4,758
18,991
4,802
14,189
59,464
4,782
19,071
4,828
14,243
59,799
4,817
19,169
4,854
14,315
60,105
4,847
19,252
4,872
14,380
60,277
4,847
19,335
4,885
14,450
60,523
4,881
19,412
4,905
14,507
60,532
4,827
19,469
4,901
14,568
60,686
4,846
19,523
4,905
14,618
60.692
4,855
19,546
4,917
14,629
60,903 ' 61,150
'4,922 '4,945
' 19,632 ' 19,697
'4,945 '4,967
' 14,687 ' 14,730
61,231
4,965
19,687
4,989
14,698
do.
.do.
do.
...do.
do.
4,271
14,551
14,871
2,733
12,138
4,452
15,249
15,079
2,727
12,352
4,535
15,568
15,263
2,727
12,536
4,547
15,618
15,268
2,723
12,545
4,563
15,597
15,314
2,736
12,578
4,591
15,670
15,350
2,736
12,614
4,605
15,773
15,435
2,739
12,696
4,623
15,866
15,517
2,745
12,772
4,637
15,896
15,562
2,753
12,809
4,670
15,963
15,597
2,772
12,825
4,690
15,989
15,557
2,765
12,792
4,707
16,074
15,536
2,765
12,771
4,719
16,127
15,445
2,752
12.693
'
'
'
'
4,737 ' 4,775
16,169 ' 16,261
15,443 ' 15,472
2,760 ' 2,757
12,683 ' 12,715
4,788
16,296
15,495
2,757
12,738
52,897
13,638
55,040
14,110
56,449
14,387
56,612 ' 54,814 ' 54,796 ' 55,492
14,378 14,237 14,250 14,355
• 56,518
14,444
57,156 ' 58,089
14,534 14,737
58,120
14,476
58,437
14,532
58,637 ' 58,771 ' 59,063
14,877 ' 14,878 ' 14,935
59,273
14,937
Production or nonsupervisory workers en private
nonagricultural payrolls!
thous..
Goods-producing...
do
Mining
do
Contract construction
do
52,897
17,044
592
2,814
55,040
17,729
615
3,004
55,969
17,985
639
3,083
56,095
17,976
502
3,099
56,114
17,954
493
3,021
56,348
18,016
494
3,023
56,744
18,198
509
3,122
57,263
18,541
655
3,288
57,428
18,565
659
3,303
57,653
18,660
663
3,401
57,704
18, 675
667
3,439
57,771
18,619
668
3,419
57,861 ' 58,151 ' 58,548
18,629 18,795 ' 18,974
'675
684
671
3,422 ' 3 , 4 6 5 ' 3 , 4 8 7
58,732
19,128
681
3,517
Manufacturing
do
Durable goods
do
Lumber and wood products
do
Furniture and
fixtures
do
Stone, clay, and glass products
do
Primary metal industries
do
Fabricated metal products©
do
Machinery, except electrical
do
Electrical equipment and s u p p l i e s . . . d o
Transportation equipment©
do
Instruments and related prod.®
do
Miscellaneous manufacturing
do
13,638
7,914
576
364
514
904
1,139
1,340
1,160
1,235
353
329
14,110
8,291
616
381
533
920
1,194
1,425
1,227
1,284
375
335
14,263
8,429
639
391
544
921
1,221
1,462
1,252
1,284
380
335
14,375
8,515
646
397
549
922
1,228
1,477
1,258
1,312
384
342
14,440
8,569
650
399
553
929
1,234
1,483
1,267
1,326
386
342
14,499
8,620
650
401
551
937
1,247
1,493
1,276
1,332
388
345
14,567
8,661
647
405
552
933
1,247
1,507
1,288
1,342
391
349
14,598
8,676
646
405
558
934
1,251
1,517
1,284
1,337
394
350
14,603
8, 685
639
404
557
939
1,257
1,516
1,283
1,344
397
349
14,596
8, 083
641
400
558
939
1,250
1,533
1,284
1,327
402
349
14,569
8,694
637
398
554
942
1,245
1,547
1,293
1,328
407
343
14,532
8,693
636
394
549
947
1,245
1,544
1,293
1,336
405
344
14,536 ' 14,655 ' 14,803
8,706 ' 8,816 ' 8 , 9 0 8
636
641
648
395
398
400
'551
'558
548
'977
960
953
1,248
1,264 '1,279
1,550 ' 1 , 5 7 6 ' 1 , 5 8 0
1,290 ' 1,301 ' 1 , 3 1 0
1,337 ' 1,370 ' 1 , 3 9 3
'414
406
'408
343
'349
'347
14; 930
8,990
654
403
561
985
1,292
1,596
1,318
1,412
419
350
Nondurable goods
do
Food and kindred products
do
Tobacco manufactures
do
Textile mill products
do
Apparel and other textile p r o d u c t s . . . d c
Paper and allied products
do
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber and plastics products, n e e . . d o
Leather and leather products
do
5, 724
1,145
64
800
1,134
508
625
600
128
493
227
5,819
1,154
60
795
1,126
519
644
615
131
557
217
5,834
1,142
57
800
1,130
519
651
614
134
569
218
5,860
1,151
59
798
1,131
523
1
653
617
135
575
218
5,871
1,156
59
799
1,132
523
656
618
136
576
216
5,879
1,158
59
798
1,131
525
658
620
136
578
216
5,906
1,168
60
798
1,134
527
663
620
137
583
216
5,918
1,154
60
795
1,140
535
668
628
135
586
217
5,913
1,152
61
792
1,137
535
668
628
136
587
217
5,875
1,142
58
791
1,121
535
669
628
135
587
209
5,839
1,124
54
785
1,127
523
667
623
136
584
216
5,830
1,122
56
790
1,124
522
657
624
137
581
217
5,839
1,122
57
'790
' 1,123
'519
'663
'624
137
589
215
5,895
'1,147
'56
794
' 1,124
'527
'673
626
'138
598
'212
5,940
1,165
57
794
1,126
530
683
629
141
605
210
35,853
3,918
15,649
3,746
11,904
3,243
13,043
37,311
3,993
16,297
3,869
12,427
3,385
13,636
37,984
4,015
16,607
3,925
12,682
3,445
13,917
38,119
4,024
16,676
3,943
12, 733
3,453
13,966
38,160
4,028
16, 737
3,958
12,779
3,472
13,923
38,332
4,044
16,812
3,982
12,830
3,494
13,982
38,546
4,067
16,894
4,007
12,887
3,500
14,085
38,863
4,086
17,079
4,026
13,053
3,523
14,175
38,993
4,109
17,106
4,043
13,063
3,546
14,232
39,035
4,051
17,165
4,040
13,125
3, 565
14,254
39,152
4,066
17,214
4,042
13,172
3,579
14,293
39,232
4,064
17,228
4,053
13,175
3,591
14,349
' 39,356
' 4,129
' 17,288
' 4,075
' 13,213
3,603
' 14,336
' 39,574
' 4,149
' 17,357
4,095
' 13,262
' 3,636
' 14,432
39,604
4,164
17,317
4,101
13,216
3,647
14,470
Seasonally Adjusted!
Service-producing. __
Trans., comm., electric, gas, etc
Wholesale and retail trade
Wholesale trade
Retail trade.
Finance, insurance, and real estate
Services
G overnm ent
Federal
State and local.
Production or nonsupervisory workers on private
nonagric. payrolls, not seas, adjusted©.thous...
Manufacturing
_do
253 j
'
'
'
'
86,573
71,130
50,694
25,670
••893
' 4,341
'
'
'
'
Seasonally Adjusted!
Service-producing
Transportation, comm., elec, gas, etc
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services..
do
do
do
do. .
do
do
do
' Revised.
P Preliminary.
©See end of note! for this page.
! D a t a have been revised to conform to t h e 1972 Standard Industrial Classification and
adjusted to March 1977 benchmark levels; consequently they are not comparable with previously published data. For a discussion of the effect of these revisions, see " B L S Establishment Estimate Revised to Reflect New Benchmark Levels and 1972 S I C , " in the October 1978
38,722
4,094
16,952
4,020
12,932
3,516
14,160
issue of Employment and Earnings, available from the U.S. Government Printing Office,
Washington, D.C. 20402.
©Effective October 1978 SURVEY, includes data formerly shown separately under ordnance and accessories.
January 1979
SUKVEY OF ( OUEKENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
Annual
1977
Nov.
S-15
1978
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov. v Dec. »
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
AVERAGE HOURS PER WEEKf
Seasonally Adjustedf
Avg. weekly hours per worker on private nonagric.
payrolls:^ Seasonally adjusted!
hours.
Not seasonally adjusted
do. -.
Mining
do...
Contract construction
do...
Manufacturing: Not seasonally adjusted
do...
Seasonally adjusted
do...
O vertime hours
do - _.
Durable goods
do.
Overtime hours
do.
Lumb er 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
Electrical equipment and supplies
Transportation equipment©
Instruments and related products©
Miscellaneous manufacturing ind
Nondurable goods
Overtime hours
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
P aper and allied products
Pg
pg
rinting and publishing
Chemicals
hil
and
d allied
llid products d t
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
Trans., comm., elec, gas, etc
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
35.9
36.2
42.9
36.2
41.1
40.5
3.6
35.5
35.1
42.8
34.3
39.2
39.8
3.5
35.7
35.3
43.2
35.6
39.6
40.1
3.7
36.0
35.8
43.7
36.9
40.4
40.6
3.7
36.1
35.8
44.0
37.3
40.4
40.8
3.8
35.9
35.7
43.4
36.6
40.4
40.4
3.5
35.9
36.2
43.4
37.3
40.8
40.5
3.6
35.9
36.3
43.0
37.3
40.3
40.5
3.6
35.8
36.2
43.6
37.1
40.4
40.3
3.4
35.8
36.0
43.0
37.0
40.7
40.4
3.6
••35.9
35.9
'43.0
36.9
40.6
'40.5
3.6
'35.8
35.8
'43.2
'36.7
'40.9
'40.7
'3.6
35.8
36.0
44.0
36.9
41.2
40.6
3.8
3.1
3.4
36.0
35.9
43.7
36.4
40.7
40.5
3.6
40.6
3.2
39.9
38.8
41.1
40.8
40.8
41.0
3.7
39.8
39.0
41.3
41.3
41.0
41.2
3.8
40.0
39.5
41.5
41.5
41.0
41.2
3.8
40.0
39.6
41.3
41.6
41.2
40.4
3.7
39.3
38.4
40.0
41.4
40.3
40.7
4.0
39.6
40.0
40.9
41.6
40.7
41.3
3.9
39.9
40.1
41.8
41.5
41.3
41.4
4.0
40.2
40.1
42.0
41.5
41.4
41.0
3.7
39.5
39.4
41.6
41.7
41.1
41.2
3.7
40.0
39.5
41.9
41.8
41.0
41.2
3.8
39.8
39.3
41.7
41.8
41.0
41.0
3.6
39.3
39.0
41.6
42.0
40.9
41.1
3.8
39.6
38.8
41.8
41.8
40.9
41.2
3.9
'40.1
'39.0
41.8
'42.1
40.8
'41.4
4.0
40.0
'39.2
42.0
'42.5
41.0
41.3
4.1
39.7
39.3
42.0
42.3
41.2
do.
do.
do.
dodo.
41.2
40.0
41.7
40.3
41.5
40.4
42.5
40.6
38.8
41.9
40.5
42.6
40.6
38.9
41.9
40.5
41.5
40.5
38.6
41.1
39.7
41.6
40.4
38.0
41.8
40.0
40.9
40.6
38.3
42.3
40.6
42.1
41.3
39.0
42.3
40.4
42.4
41.4
39.1
42.1
40.2
41.8
40.8
38.8
42.3
40.2
42.0
40.8
38.8
42.2
40.7
42.1
40.7
38.8
41.8
40.4
41.8
41.0
39.0
41.9
40.1
42.5
40.9
39.0
42.0
'40.3
'42.6
40.9
38.8
42.2
40.4
'42.9
'40.8
38.8
42.1
40.3
42.3
40.9
39.1
do.
do.
do.
do.
do.
do.
39.4
3.0
40.5
37.5
40.1
35.8
39.4
39.5
39.4
3.2
3.2
40.0
37.9
40.4
35.6
40.1
38.5
40.7
35.8
3.3
39.9
38.0
40.5
35.9
38.8
3.2
39.7
37.6
40.3
33.7
39.1
3.3
39.7
38.3
40.3
35.5
39.7
3.3
40.0
38.9
40.8
36.0
3.4
40.1
38.7
40.9
36.3
39.5
3.2
39.8
38.7
40.5
35.9
39.4
3.1
39.6
39.6
40.3
35.8
39.4
3.2
39.8
38.6
40.2
35.8
3.2
39.5
37.7
40.4
35.6
39.4
3.2
39.5
37.9
40.4
35.7
39.3
3.2
'39.9
'36.7
'40.3
'35.2
39.5
3.2
'3.99
'37.4
'40.4
'35.7
39.5
3.4
39.7
38.0
40.4
35.8
do.
do.
do.
d
do.
do.
do.
42.5
37.5
41.6
42.1
40.7
37.4
42.9
37.7
41.7
42.7
41.0
36.9
42.8
37.8
41.7
42.8
40.8
37.4
42.9
37.6
41.7
43.4
40.6
37.0
42.5
37.4
41.6
43.1
40.2
36.5
42.5
37.4
41.6
42.8
39.8
36.4
43.4
38.0
42.1
43.3
40.7
37.1
43.5
37.9
42.0
43.6
41.3
38.1
42.9
37.3
41.9
42.9
41.1
37.6
42.9
37.5
41.9
43.4
41.1
37.4
42.9
37.6
41.8
43.9
40.9
37.2
42.7
37.4
41.9
44.3
40.9
37.1
42.7
37.8
41.8
43.8
41.0
37.2
'42.6
37.7
'41.9
'43.9
41.0
'37.1
43.1
'37.8
42.0
43.7
41.2
42.8
37.7
41.7
43.7
41.5
36.7
do.
do.
do.
do.
do.
do..
39.8
33.7
38.7
32.1
36.4
33.3
39.9
33.3
38.8
31.6
36.4
33.0
40.2
33.1
38.8
31.4
36.4
33.0
40.0
33.1
38.8
31.4
36.4
33.0
40.0
32.7
38.7
30.9
36.3
33.0
40.1
32.7
38.7
30.9
36.3
32.9
40.4
33.0
38.9
31.2
36.3
33.0
40.0
33.0
39.0
31.2
36.7
33.0
40.2
32.9
38.7
31.1
36.3
32.9
40.1
32.8
38.8
31.0
36.5
32.8
39.6
32.9
38.7
31.1
36.6
32.8
39.9
32.8
38.8
30.9
36.5
32.7
40.1
32.8
39.0
30.9
36.5
32.8
40.1
'32.9
38.9
'31.0
36.6
32.8
'40.0
'32.8
38.9
'30.9
36.3
32.7
40.0
32.7
38.9
30.8
36.3
32.6
156. 31 158.04
126. 67 128.54
1.83
1.93
7.28
7.41
40.96
41.40
9.74
9.89
32.14
32.52
8.44
8.58
26.28
26.83
29.64
29.49
158.66
128.68
1.52
7.48
41.74
9.88
32.54
8.59
26.93
29.98
157.83
127.87
1.50
7.03
41.43
9.87
32.51
8.64
26.89
29.96
159.13
128.81
1.53
7.19
41.89
10.04
32.61
8.66
26.88
30.32
161.30
130.93
1.59
7.62
42.53
10.12
163.31 163.47
132. 60 132.56
1.98
1.99
8.36
8.39
162.93 163.56
132.61 133.36
1.99
'2.02
' 8 . 2 6 r '8.31
42.30 r 42.58
' 10.11
10.21
«• 33.47 "•33.60
8.96
'9.01
••27.52 "•27.64
-•30.32 r 30.20
165.28
134.25
2.03
8.35
43.08
10.30
33.75
9.00
27.75
31.03
117.4
102.0
139.7
108.7
99.5
100.8
97.6
128.1
107.2
124.2
122.4
124.9
133.6
141.6
117.5
101.6
107.8
108.6
100.2
101.7
97.9
116.2
99.3
105.6
100.3
98.9
100.5
96.5
117.1
100.9
106.8
104.2
100.1
101.9
97.4
119.1
103.6
111.3
111.5
102.0
103.9
99.2
120.4
106.0
144.2
118.8
102.5
104.2
99.9
128.5
106.9
124.7
123.0
125.4
133.9
142.1
127.9
107.0
123.7
123.1
123.9
134.3
141.7
128.4
107.7
124.2
123.9
124.4
135.1
141.8
129.8
109.1
125.9
125.3
126.1
135.4
143.3
5.40
6.77
8.29
5.92
5.47
6.91
8.34
5.97
5.73
6.35
6.08
5.39
4.55
6.04
7.86
6.11
6.53
5.66
7.59
5.54
4.58
5.49
6.93
8.32
5.98
5.73
6.37
6.09
5.39
4.55
6.04
7.96
6.13
6.59
5.68
7.60
5.59
4.57
5.52
6.95
8.40
6.00
5.75
6.40
6.12
5.40
4.56
6.08
7.94
6.19
6.61
5.68
7.69
5.60
4.60
36.1
42.4
36.8
40.1
36.0
43.4
36.5
40.3
AGGREGATE EMPLOYEE-HOURS
Seasonally Adjusted
Employee-hours, wage & salary workers in nonagric. establish, for 1 week in the month, seasonally adjusted at annual ratef
bil. hours.
Total private sector
do...
Mining
do.
Contract construction
do...
M anufacturing
do _..
Transportation, comm., elec, gas
do...
Wholesale and retail trade
do...
Finance, insurance, and real estate
do._.
Services
do...
Government
do.
151.20
122.05
1.72
6.84
39.44
9.48
31.20
8.10
25.27
29.15
Indexes of employee-hours (aggregate weekly) :1ft
Private nonagric. payrolls, total
1967=100.
Ooods-producing
. do
Mining
do...
Contract construction
do. _.
Manufacturing
do.
Durable goods
do _..
Nondurable goods
do.
111.4
96.0
125.5
100.2
94.2
93.4
95.4
Service-producing
Transportation, comm., elec, gas
Wholesale and retail trade
Wholesale trade
.... _
Retail trade
Finance, insurance, and real estate
Services
do...
do...
do...
do
do...
do...
do.. .
122.1
103.7
118.9
116.4
119.8
125.8
133.9
115.4
100.2
133.4
105.8
98.0
98.7
97.1
126.0
105.9
123.0
120.6
123.1
131.3
138.8
33.09
8.42
27.26
30.36
162.90 162.48
132. 21 131. 79
1.98
1.96
8.10
7.94
42.57
42.44
10.11
10.15
33.22
33.21
8.84
8.78
27.39
27.30
30.69
42.49
10.18
33.36
8.88
27.34
30.71
42.54
9.93
33.42
8.94
27.35
30.92
162.91
132.29
2.03
8.29
42.22
10.05
33.38
8.93
27.39
30.62
120.0
105.1
143.1
117.1
101.6
103.5
120.6
106.0
144.0
122.8
101.7
103.8
98.7
120.6
106.1
143.5
124.2
101.6
104.0
98.1
120.4
105.4
145.7
122.8
101.0
103.5
97.2
120.8
105.5
144.4
122.6
101.2
103.9
97.2
121.6
106.5
145.2
123.8
102.1
105.5
97.2
' 122.3
107.9
' 147.8
' 123.9
103.7
' 107.1
'98.7
122.5
108.7
149.9
125.7
104.3
107.8
99.3
130.5
108.7
126.4
126.0
126.6
137.5
144.1
130.5
109.0
126.8
125.2
127.3
136.2
143.8
130.7
109.4
126.8
126.1
127.0
137.9
143.9
130.7
106.5
127.4
125.7
128.0
139.0
144.1
130.8
107.7
127.2
126.1
127.7
139.2
144.1
131.4
108.2
127.5
127.1
127.7
139.6
145.1
132.0
109.9
128.2
127.4
128.5
140.5
145.0
' 132.3
' 110.2
'128.4
'128.0
'128.5
' 140.6
' 145.5
132.2
110.6
127.8
128.2
127.7
141.0
145.5
5.59
7.62
8.39
6.03
5.79
6.44
6.16
5.43
4.59
6.18
7.98
6.25
6.61
5.70
7.74
5.62
4.63
5.62
7.64
8.52
6.07
5.82
6.47
6.19
5.49
4.61
6.25
8.04
6.27
6.63
5.73
7.75
5.65
4.64
5.65
7.69
8.56
6.11
5.85
6.52
6.23
5.66
4.66
6.33
8.10
6.29
6.70
5.75
7.81
5.65
4.66
5.69
7.82
8.63
6.17
5.92
6.57
6.29
5.71
4.68
6.37
8.19
6.32
6.73
5.83
7.84
5.70
4.70
5.71
7.79
8.72
6.16
5.90
6.57
6.28
5.68
4.72
6.40
8.31
6.35
6.74
5.87
7.78
5.73
4.70
5.82
7.94
8.87
6.28
5.99
6.71
6.39
5.75
4.76
6.46
8.42
6.45
6.88
5.94
8.04
5.76
4.74
5.86
7.97
'8.88
'6.32
6.04
6.76
6.44
' 5.77
'4.78
'6.48
'8.42
'6.49
'6.94
5.87
'8.04
'8.89
6.37
6.09
6.81
6.49
'5.73
5.90
8.05
8.94
6.45
6.16
6.89
6.56
5.73
4.84
6.52
8.55
6.61
7.08
6.07
8.36
5.93
4.88
HOURLY AND WEEKLY EARNINGS
Average hourly earnings per worker:^
Not seasonally adjusted:
Private nonagric. payrolls
dollars
4.86
5.24
5.40
Mining
do
6.46
6.94
7.19
7.70
Contract construction
do
8.09
8.26
5.22
M anufacturing
do
5.67
5.85
5.00
Excluding overtime
do
5.58
Durable goods
do!'..!
6.06
6.25
5.34
Excluding overtime
do
4.72
Lumber and wood products
do
5.~25"
3.99
4.34
Furniture and
fixtures
do
4.47
5.33
Stone, clay, and glass products... do
5.80
5.98
6.77
Primary metal industries
do
7.71
7.40
5.49
6.08
Fabricated metal products©
do
5.90
5.78
6.46
Machinery, except electrical
do
6.25
4.96
5.55
Electrical equipment and supplies.do
5.39
6.62
7.57
Transportation equipment©
do
7.28
4.93
5.43
Instruments and related prod.©
do
5.29
4.04
4.47
Miscellaneous manufacturing ind..do
4.36
'Revised.
P Preliminary.
If Production and nonsupervisory workers.
t See corresponding note., p. S-14.
© See corresponding note, p. S-14.
6.33
5.27
4.51
6.00
7.76
6.12
6.54
5.65
7.67
5.51
4.54
'5.96
'8.21
'5.79
4.77
4.79
6.51
8.51
'6.54
'7.00
5.98
8.26
'5.83
'4.80
r
JSUJ
S-16
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
January 1979
1978
1977
1977
Annual
MEN T 131JSIJNJ
C OF
Nov.
Dec.
Jan.
Feb.
Apr.
Mar.
May
June
July
Aug.
Sept.
Nov. v Dec*
Oct.
LABOR FORCE, EMPLOYMENT,, AND> EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS—Con.
Avg. hourly earnings per worker, private nonagric.
payrolls. Not seas. adj. 11—Continued
M anufacturing—Continued
Nondurable goods
_.
dollars
Excluding overtime
do
Food and kindred products
do..
Tobacco manufactures
do
Textile mill products
do
Apparel and other textile products. _-do
Paper and allied products
do
Printing and publishing
._ . . d o
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
v
Wholesale and retail trade
. . .
do
Wholesale trade
do.
Retail trade
do
Finance, insurance, and real estate..
do
Services
._
do..
Seasonally adjusted :f
Private nonagricultural payrolls .
do
Mining __ . _
do...
Contract construction
do
Manufacturing
Transportation, comm., elec, gas
Wholesale and retail trade
Finance, insurance, and real estate..
Services
.do
do
.
do
do...
do
Indexes of avg. hourly earnings, seas, adj.: \ \
Private nonfarm economy:
Current dollars
.
1967=100
1967 dollarsA- ~
do
Mining
do
Contract construction
Manufacturing..- -
do ..
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 N R ) : d"
Common labor
$ per hr
Skilled labor do
Farm (U.S.) wage rates, hired workers, b y
method of pay:
All workers, including piece-rate
$ per hr._
Workers paid per hour, cash wages only..do
Avg. weekly earnings
per worker, Ifprivate nonfarm :f
Current dollar1? seaonnallv adiuctpd
1967 dollars seasonally adjusted A
Spendable earnings (worker with 3 dependents):
Current dollars seasonally adiu^tpd
1967 dollars seasonally ad lusted /\
Current dollars, not seasonally adjusted:
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 t r a d e - . . _
do
Wholesale trade
do
Retail trade
do
Finance, insurance, and real estate
do
Services _
do
4.70
4.51
4.97
4.99
3.69
3.40
5.47
5.71
5.91
7.21
4.65
3.40
6.46
3.97
5.18
3.57
4.27
4.31
5.10
5.24
5.30
5.37
5.62
3.98
3.62
5.96
6.11
6.43
7.82
5.17
3.41
6.99
4.27
5.39
3.85
4.54
4.65
5.53
5.71
4.12
3.71
6.17
6.26
6.66
7.91
5.25
3.68
7.25
4.38
5.55
3.94
4.63
4.78
5.60
5.80
4.14
3.76
6.20
6.27
6.72
8.00
5.29
3.69
7.29
4.38
5.61
3.93
4.67
4.80
5.38
5.18
5.63
6.03
4.17
3.85
6.27
6.33
6.78
8.41
5.34
3.80
7.34
4.54
5.67
4.10
4.76
4.89
5.38
5.17
5.68
6.06
4.16
3.85
6.32
6.34
6.82
8.57
5.33
3.84
7.37
4.54
5.66
4.10
4.76
4.91
5.39
5.19
5.69
6.30
4.17
3.89
6.32
6.37
6.83
8.50
5.32
3.86
7.34
4.56
5.69
4.11
4.76
4.91
5.42
5.21
5.73
6.33
4.17
3.91
6.33
6.37
6.87
8.53
5.36
3.87
7.45
4.60
5.78
4.14
4.84
4.95
5.44
5.24
5.75
6.41
4.19
3.89
6.37
6.38
6.93
8.52
5.43
3.88
7.45
4.61
5.78
4.15
4.85
4.95
5.48
5.26
5.75
6.61
4.20
3.92
6.51
6.42
6.96
8.52
5.47
3.89
7.47
4.62
5.81
4.16
4.89
4.93
5.57
5.35
5.80
6.58
4.32
3.92
6.63
6.47
7.05
8.58
5.51
3.89
7.53
4.66
5.91
4.19
4.93
4.95
5.56
5.33
5.80
6.30
4.37
3.93
6.59
6.51
7.06
8.59
5.54
3.87
7.63
4.67
5.92
4.19
4.91
4.94
5.62
5.38
5.87
6.10
4.42
3.99
6.68
6.58
7.13
8.67
5.58
3.92
7.71
4.74
6.02
4.25
4.97
5.00
5.64
5.41
'5.89
'5.99
'4.42
'4.01
6.68
» 6.58
'7.19
8.67
5.66
'3.94
'7.72
4.78
'6.06
4.28
'5.02
'5.12
'5.69
5.46
'5.98
'6.18
4.45
'4.04
'6.75
'6.62
'7.21
'8.73
5.70
3.98
'7.73
'4.80
'6.08
4.30
'5.03
5.13
5.75
5.52
6.03
6.38
4.48
4.07
6.81
6.67
7.25
8.86
5.80
4.00
7.78
4.79
6.13
4.29
5.05
5.16
4.86
6.46
7.70
5.22
6.46
3.97
4.27
4.31
5.24
6.94
8.09
5.67
6.99
4.27
4.54
4.65
5.39
7.18
8.20
5.85
7.21
4.39
4.66
4.76
5.41
6.75
8.24
5.88
7.28
4.42
4.68
4.78
5.46
6.84
8.30
5.93
7.34
4.51
4.72
4.86
5.49
6.92
8.35
5.98
7.38
4.50
4.71
4.87
5.54
6.94
8.47
6.01
7.40
4.55
4.75
4.90
5.61
7.63
8.47
6.05
7.49
4.60
4.84
4.95
5.62
7.66
8.59
6.08
7.50
4.60
4.84
4.94
5.66
7.71
8.65
6.12
7.52
4.63
4.89
4.96
5.71
7.85
8.66
6.18
7.53
4.67
4.95
5.01
5.73
7.88
8.72
6.20
7.58
4.70
4.92
5.02
5.77
7.94
8.87
6.28
7.71
4.74
4.97
5.06
5.82
'7.99
'8.77
'6.32
'7.66
'4.77
5.03
'5.10
5.86
'8.02
' 8.83
6.37
'7.69
'4.81
'5.06
'5.11
5.90
8.03
8.89
6.41
7.77
4.83
5.06
5.14
183.0
107.3
198.6
184.7
184.6
196.7
176.1
169.9
183.9
196.8
108.4
214.8
194.3
199.4
213.2
189.5
180.7
197.9
202.4
109.3
221.2
196.7
205.3
220.2
194.6
185.4
202.6
203.5
109.4
217.2
197.4
206.5
222.1
195.9
186.0
203.5
206.0
109.9
219.7
198.8
208.1
223.8
199.9
187.7
207.0
206.6
109.5
221.0
200.1
209.4
224.9
199.7
187.3
206.8
208.3
109.5
222.5
203.0
211.0
225.6
201.5
188.9
208.7
210.3
109.6
237.1
203.5
212.2
228.4
203.5
192.3
210.5
211.0
109.0
237.3
206.0
213.5
229.2
204.0
192.4
210.4
212.3
108.7
239.8
207.6
214.7
229.6
205.2
194.6
211.5
214.1
109.0
244.3
207.9
216.7
230.4
207.6
196.9
213.2
214.6
108.7
244.5
209.2
217.5
231.2
208.3
196.0
212.9
216.2
108.7
247.1
209.9
218.9
233.3
209.9
198.2
214.8
' 218.0
' 108.8
'249.7
' 210.6
220.8
'234.0
'211.6
' 199.8
' 217.5
' 219.0
108.7
' 249.7
' 211. 7
222.2
' 234.8
' 212.8
'200.9
217.7
220.2
108.6
249.1
213.2
223.3
237.1
213.9
201.1
218.9
8.93
11.85
9.46
12.56
9.69
12.90
9.74
12.94
9.77
13.01
9.78
13.03
9.82
13.04
9.83
13.04
9.87
13.09
9.96
13.19
10.26
13.55
10.27
13.61
10.31
13.36
10.33
13.72
10.34
13.73
10.37
13.36
2.66
2.61
2.81
2.65
6.929
2.87
2.82
3.06
2.90
7.481
7.658
3.18
3 13
3 40
3.18
3.09
3 05
3 22
3.08
7.716
2 93
2.90
3.06
3.00
3.18
3.11
3.34
3 20
194.04
104.77
194.22
104.42
193.83
103.38
195. 99
103.86
199.44
104.86
202.52
105. 59
201.76
104.21
203.19
104.04
204.99
104.43
205.13
103.92
206.57 ' 208.94 ' 209.79
103.91 ' 104.26 ' 104.11
211.22
104.15
176.67
95.39
176.81
95.06
173.27
92.41
174.93
92.70
177.52
93.33
179.83
93.76
179.26
92.59
180.33
92.33
181.68
92.55
181.78
92.09
182.86 '184.64 '185.28
91.98 ' 92.14 ' 91.95
186.35
91.89
212.40
352.59
328.99
265.74
290.07
229.43
312.76
158.07
239. 68
133.42
183.32
168.22
189.16
302.97
295.87
226.89
245.81
199.76
277.60
142.52
215.90
121.41
168.36
157.31
188.64
301.20
295.29
228.50
248. 46
200.94
278.90
142.19
209.13
120.11
165.26
153.45
193. 86
317.80
298.19
238.10
258.75
208.03
291.45
144.10
215.34
123.00
168.53
157.26
195.48
289.08
299.27
243.31
265.86
211.47
293. 06
146. 29
218.79
123.70
169. 99
158.40
192.00
289. 53
275. 22
234.02
252. 73
205.52
289.20
146.19
217.73
120.08
173.26
160.39
193.80
297.30
287.87
236.81
256.71
208.21
294.80
146.64
217.34
122.36
173.26
160.56
197. 62
301. 63
304. 92
242.40
263.04
212.37
294.33
149.11
220.20
122.88
172. 79
161.05
200.12
332.23
310.43
243. 61
265.33
213.55
296.51
150.42
224. 26
127. 26
177.14
162.36
200. 63
331.58
312. 68
245.23
265.27
213. 79
297.26
150.75
223. 69
133. 57
176.06
161.37
204.53
336. 05
324.42
249.29
270.58
217.56
301.04
153.38
226.59
127.40
178.49
162.69
206.55
337.82
329. 67
248. 65
268.71
220. 02
301.20
157.04
230. 49
134.08
180.93
164.84
206.70
338.09
330. 49
248.86
268.71
220.18
307.49
156.45
230.88
133.24
179.71
164.01
209. 52
345.39
332. 63
255.60
277. 79
223.68
309.94
155.47
234. 78
131.33
180.91
165.46
210.37
'348.29
»• 336.55
'256.59
279.19
222.78
'309.57
156.31
'236.34
'131.82
'183.73
'167.42
210.15
'351.35
••323.60
'260.53
'283.30
'226.46
'309.20
'156.48
'236.51
'131.58
' 182.59
167.24
95
118
133
140
138
139
141
146
144
147
150
151
152
161
161
3.9
2.6
38
1.7
4.0
2.8
3 8
1.9
3.0
2.2
3 3
1.5
3.7
2.4
3.2
2.2
3 1
1.4
3.7
2.6
3 5
1.8
4.0
2.9
35
4.7
3.6
36
4.4
3.2
4 1
5.3
4.1
52
4.8
3.9
2.0
4.8
3.8
38
4.3
3.5
'40
2.1
2.2
2.1
3.4
3.0
2.3
3.3
2.5
36
1.7
1 o
1 9
2.3
1.5
3 3
1.2
1 4
Q
Q
4.0
3.0
3.9
3.0
4.2
3.1
3.9
3.0
3.8
2.9
3.8
2.0
4.0
2.1
3.9
2.0
4.4
3.4
3.7
1.9
4.1
3.1
4.5
3.4
3.8
2.0
3.8
2.8
3.8
2.0
4.0
2.2
4.0
3.0
4.0
2.2
.9
1.0
.9
1.0
1.0
.9
.9
3.7
2.0
'3.9
2.3
.9
.8
.9
.8
267
449
349
527
460
670
568
835
545
859
463
810
435
774
494
785
449
775
342
638
70
329
126
367
132
190
171
307
130
228
211
338
176
333
160
603
127
214
87
199
HELP-WANTED ADVERTISING
Seasonally adjusted index
..1967=100--
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
LavofF
do
i
i
4.1
2.9
4.4
3.3
3.9
2.0
3.9
2.0
1.0
1.0
1.5
1.2
4.2
3.1
A
Q
1 n
3.9
2.1
WORK STOPPAGES O
Industrial disputes:
Number of stoppages:
4,630
133
335
5,648
271
Beginning in month or year
number719
304
485
In effect during month
do
Workers involved in stoppages:
1,603
200
80
87
2,420
Beginning in month or year
thous
233
308
318
In effect durinsr month
do
37,859
24,288
3,158
5,029
4,689
Days idle during month or y e a r . . .
do.-.
'Revised.
v Preliminary.
If Production and nonsupervisory workers.
AEarnings
in 1P67 dollars reflect changes in purchasing power since 1967 by dividing by Consumer Price
Index; effective Feb. 1977 SURVEY, data reflect new seas, factors for the C P I .
fSee cor-
4,221
4,290
2,055
3,072
2,724
2,995
4,141
4,421
2,261
1,928
responding note on p. S-14.
cfWages as of Jan. 1, 1979: Common, $10.37 skilled, $13.76.
O Revisions for 1975 are in the July 1976 SURVEY.
SUEVEY OF CUKRENT BUSINESS
January 1979
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1977
1976
S-17
1978
1977
Annual
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May-
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
3,304
weekly §9
thous..
3,846
State programs (excl. extended duration prov.)
19,488
Initial claims
thous.. 20,065
2,647
Insured unemployment, avg. weekly._.do
2,991
Percent of covered employment: A
3.9
Unadjusted
4.6
Seasonally adjusted
2,178
Beneficiaries, average weekly
thous..
2,450
Benefits paid §
mil. $.. 8,974. 5 8,773.0
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. $..
2,853
3,226
3,780
3,638
3,212
2,659
2,297
2,581
2,394
2,064
' 1,499
> 2,106
1,582
2,274
2,010
2,644
2,272
3,191
1,692
3,273
1,442
2,901
1,211
2,379
1,229
2,051
1,349
1,962
1,680
2,265
1,372
2,168
• 1,059
1,860
1,262
1,816
>2~669"
3.3
3.9
1,741
599.5
3.9
3.7
2,011
703.0
4.6
3.6
2,520
910.2
4.2
4.7
3.6
3.5
2,753 2,615
919.2 1,002.0
3.4
3.1
2,140
704.6
2.9
3.1
638.9
2.8
3.1
1,653
579.0
3.2
3.4
1,680
557.8
3.0
3.6
1,811
677.4
2.6
3.3
• 1,552
• 521.0
P3.1
1,458
515.2
1,724
50
46
41
42
46
42
38
32
29
28
31
32
31
34
401
98
98
593.0
354
80
78
341.5
26
67
64
24.7
27
68
66
25.6
25
69
71
26.0
23
69
65
22.6
23
59
60
24.5
18
52
55
19.7
20
47
47
19.2
23
45
46
18.2
24
49
46
17.8
25
50
51
21.5
23
'48
'53
'18.3
P24
M9
r
64
"18.7
115
27
134.8
104
21
21
9.1
12
25
9.7
13
40
13.1
12
41
16.9
7
35
18.4
3
22
10.4
2
13
5.3
11
5.9
16
16
28
33
1.5
31
1.4
15
23
1.0
P17
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
.
mil. $..
Commercial and financial co. paper, total..do
Financial companies
do
Dealer p laced
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 SMS A's (except N.Y.)
do.
6 other leading SMSA'si
do.
226 other SMSA's
do
Federal Reserve banks, condition, end of period:
Assets, total 9
mil. $
Reserve bank credit outstanding, total 9 .do
Time loans
do.
U.S. Government securities
do
Gold certificate account
do
Liabilities, total 9
D eposits, total
Member-bank reserve balances
Federal Reserve notes in circulation
_do.
do.
do.
do.
22,523
52,041
39, 710
7,294
32,416
12,331
25,654
63,878
49, 223
8,926
40, 297
14, 655
24,088
63,927
48,361
8,806
39,555
15, 566
25.654
63,878
49,223
8,926
40,297
14.655
25,252
66,500
50,961
9,409
41,552
15,539
25,411
67,015
51,684
9,340
42,344
15,331
26,181
67,093
51,440
8,972
42,468
15,653
26.256 26,714
70,700 71,900
53,983 55,892
9,693 10,201
44,290 45,691
16,717 16,008
36,740
41,713
41,600
41,713
42,179
42,663
43,632
44,329
19,127
4,931
12,682
22,139
5,600
13,974
21,923 22,139
5,696 5,600
13, 981 13,974
22,351 22,581 22,927
6,073 6,277 6,800
13, 755 13,806 13,905
23,185
6,939
14,205
27,952
74,994
57,373
10,966
46,407
17,621
78,518 81,890
59,917 62,584
11,219 11,842
48,698 50,742
18,601 19,306
45,614
46,051
46,729
24,467
5,634
15,513
24,760 25,070 25,355
5,642 6,214
6,382
15,649 15,445 15,316
27,579
72,884 73,809
56,277 56,633
9,830 10,258
46,447 46,375
16,607 17,176
28,319
73,273
56,236
10,511
45,725
17,037
44,666
44,926
45,201
23,526
6,631
14,509
23,866
6,114
14,945
24,152
5,747
15,302
47,053
133,540
139,889
133,591 139,889
134,925 134,500 136,043 141,394 141,977 148,127 146,137 148,947 153,075 156,320 '153,098 153,264
107,718
25
97,021
11,598
116, 303
265
102,819
11,718
109,729 116,303
926
265
96,477 102,819
11, 595 11,718
109,849 110,235 113,604 116,621 116,607 124,439 123,607 126,311 129,675 129,266 '129,255 126,871
1,172
1,207
954 1,365
813
304
758
1,127
332
1,428
1,750
1,167
97,004 98,450 101,577 103,500 102,826 110,146 108,885 111, 739 115,279 115,322 113,305 110,562
11,671
11,655
11,642
11, 718 11,178 11,718 11,718 11,718 11,706 11,693 11,679 11,668
133,540
139,889
133,591 139,889
134,925 134,500 130,643 141,394 141,977 148,127 146,137 148,947 153,075 156,320 '153,098 153,264
38,016
25,158
85,590
35, 550
26,870
93,153
30, 042 35,550
26,345 26,870
91, 229 93,153
31,822 30,805
19,301 26,047
90,159 90,703
33,697
27,900
91,666
36,663
28,321
92,331
33,647 40,595
30,135 27,920
94,570 95,345
39,910
28,461
95,571
40,773 44,430 42,563 ' 39,452 37,134
27,705 26,830 26,260 ' 31,919 31,223
96,534 96,572 98,154 100,825 103,325
36,738
36,605
133
405
-220
30,231
35,925
306
344
36,880
36,816
64
539
—432
37,119 37,262
36,867 37,125
137
252
1,111
1,227
-854
-882
38,189
38,049
140
1,286
-1,003
37,666
37,404
262
1,147
-697
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
mil. $_. 1135,136 1 36,471 35, 782
Required
do
34,964 i 36, 297 35,647
Excess
do
135
*172
i 174
l
Borrowings from Federal Reserve banks. _ .do
840
62
1558
Free reserves
do
U22
-622
i -330
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits:
Demand, adjustedd"
mil. $_. 112,773
Demand, total 9
d o . . . 181,528
Individuals, partnerships, and corp
d o . . . 130,575
State and local governments
do...
6,041
TT.S. Government
do.. _
1,620
Domestic commercial banks
do.
27,383
36,471
36,297
174
558
-330
38,185
37,880
305
481
-144
37,689
37,614
75
1,068
-802
38,434 ' 39,728 41,669
38,222 ' 39,423 41,487
182
212
'305
874
722
1,261
-558
-232
120,472 113,231 120,472 114,743 112,191 112,769 112,127 113,822 113,522 116,955 114,813 113,870 118,184 114,248
200, 280 189,514 200,280 188,226 191,501 177,269 188,146 206,908 187, 760 192,013 186, 539 191,858 201,237 191,695
143, 553 135,815 143,553 134,181 136,293 128,408 133,580 144,852 133,823 138,220 135,136 135,128 142,470 138,612
6,182
7,107 6,377
5,592 5,802 6,709 5,672
6,632
6,235 6,346
5,665 6,510
6,144
6,346
2, 909 1,444
2,105 2,745
954
1,031
5,970 1,303
2,702 3,714
2,707 3,744
1,325
3,744
29,275 29,389 29,275 27,983 29,172 24,482 26,886 35,975 27, 540 28,213 27, 563 28,666 31,091 29,773
do.
231,416
252,424 246,729 252,424 252,425 254,902 260,621 261,462 265,176 266,884 267,169 270,102 272,480 276,533 280,971
do
do
89,473
107,545
10, 044
92,461 92,276 92,461 92,562 92,641 94,013 93,202 93,405 92,883 91,857 91,590 91,633 90,783
121,400 117,672 121,400 120,910 122,262 126,550 128,296 131,672 134,330 135,919 137,422 139,485 143,895 148,290
Loans (adjusted), total d"..
do
Commercial and industrial
do.
For purchasing or carrying securities
do
To nonbank financial institutions
do.
Real estate loans
. do
Other loans
.
do
291,495
116,480
12,327
24,540
63,409
96,816
324, 557 318,767 324,557 322,039 323,040 325,163 332,251 339,652 341,669 345,594 348,636 353,784 365,297 366,087
125, 534 123,573 125,534 124,359 126,609 128,805 131,654 134,601 135,528 135,467 134, 981 136,710 139,878 140,573
13,638 13,167 13,638 12,983 12,612 11,521 12,481 12,296 12,335 12,172 12,490 12,865 13,048 10,971
23,904 23,285 23,904 22,573 22.370 22,589 22,931 23,023 22,991 23,520 23,576 24,022 24,692 24,119
74,600 73,444 74,600 75, 241 75,897 76,788 77,936 79,156 80,530 82,621 84,410 85,882 87,588 88,929
111, 547 107,158 111, 547 109,149 106,727 107,664 108,708 117,686 113,196 114,293 113,853 114,813 120,965 125,474
Investments, total
U.S. Government securities, total
Notes and bonds
Other securities-
111,452
50,076
36,825
61,376
113, 934
46, 111
37, 247
67,823
Time, total 9
Individuals, partnerships, and corp.:
Savings
Other time
do
do!
do
.. do
112,725 113,934
45,659 46, 111
37,468 37,247
67,066 67,823
110,113 110,763 109,907 112,417 111,295 110,263 110,097 110,888 112,020 111,176 111,498
44,611 44,969 44,038 44,335 43,425 42, 742 42,847 42,777 42,917 41,484 41,317
37,598 38,380 37,710 39,534 38,503 38,011 38,350 38,187 38,579 38,156 38,181
65,502 65, 794 65,869 68,082 67,870 67,521 67,250 68,111 69,103 69,692 70,181
r
Revised.
P Preliminary.
i Average for Dec.
2 Data no longer available.
§ Insured unemployment (all programs) data include claims filed under extended duration provisions of regular State laws; amounts paid under these programs are excluded from State
benefits paid data.
AInsured unemployment as % of average covered employment in a
12-month period.
9 Includes data not shown separately.
c^For demand deposits, the
term adjusted" denotes demand deposits other than domestic commercial bank and U.S.
285-100 O - 79 - S3
Government, less cash items in process of collection; for loans, exclusive of loans to and Federal
funds transactions with domestic commercial banks and after deduction of valuation reserves
(individual loan items are shown gross; i.e., before deduction of valuation reserves).
©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.
SUEVEY OF CURKENT BUSINESS
S-18
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
Annual
January
1978
1977
Nov.
1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
935.2
672.0
99.7
163.5
939.2
677.2
97.0
165.0
947.1
684.4
96.3
7.83
Sept.
Oct.
Nov.
Dec.
955.4
693.7
94.3
167.4
966.3
706.7
90.3
169.3
967.3
709.0
88.4
169.9
9.50
9.50
8.50
8.70
FINANCE—Continued
BANKING—Continued
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates), seas adj.:f
Total loans and investments©__
bil.$_.
Loans©
do
U.S. Government securities
do
Other securities
do
784.4
538.9
97.3
148.2
Money and interest rates:§
Bank rates on short-term business loans:
In 35 centers
percent per annum..
New York City
_
____do.__.
7 other northeast centers
do
8 north central centers
do
7 southeast centers.
.do
8 southwest centers
do
4 west coast centers
do
7.52
7.12
7.88
7.48
7.74
7.54
7.80
Discount rate (N.Y.F.R. Bank), end of year or
month
percent..
865.4
612.9
93.5
159.0
866.1
611.2
95.0
159.9
865.4
612.9
93.5
159.0
874.3
622.4
92.5
159.4
881.9
625.4
97.5
159.0
633.5
96.5
158.8
904.8
645.0
98.4
161.4
917.9
657.9
97.1
162.9
922.4
661.2
98.4
162.8
6.00
6.00
6.00
6.37
6.50
6.50
6.50
6.84
7.00
7.23
7.43
8.18
8.27
8.38
5.25'
7.26
7.34
7.48
7.64
7.76
7.86
7.94
8.05
8.85
8.87
8.93
8.95
8.96
8.99
9.03
9.04
9.07
9.14
9.14
9.17
9.23
9.27
9.34
9.41
9.45
9.55
9.50
9.62
9.60
9.68
'9.63
9.74
9.76
9.83
5.59
2 5.60
2 5.49
6.58
6.59
6.49
6.60
6.64
6.52
6.86
6.79
6.69
6.82
6.80
6.74
6.79
6.80
6.73
6.92
6.86
6.74
7.32
7.11
7.75
7.63
7.41
8.02
7.91
7.66
7.98
7.90
7.65
8.54
8.44
8.18
9.32
9.03
8.78
10.53
10.23
9.82
10.55
10.43
10.06
a34.989
6.94
22 5.265
6.85
6.160
7.28
6.063
7.40
6.448
7.71
6.457
7.76
6.319
7.76
6.306
7.90
6.430
8.10
6.707
8.31
7.074
8.54
7.036
8.31
7.836
8.38
8.132
8.61
8.787
8.97
9.122
9.23
211,028
189,381
254,071
218,793
22,229
18,898
24,534
18,910
18,725
19,426
18,959
18,538
24,611
21,318
23,985 26.898
19,970 21,383
28,244
21,750
25,266
21,234
28,313 '24,859
22,596 21,086
25,397
23,187
25,946
22,079
17.35
16.93
Home mortgage rates (conventional 1st mortgages) :1[
New home purchase (U.S. avg.)
percent..
Existing home purchase (U.S. avg.)_
do
18.76
18.92
18.80
18.83
Open market rates, New York City:
Bankers' acceptances (prime, 90 days)
do
Commercial paper (prime, 4-6months).-do
Finance co. paper placed directly, 3-6 mo.do
3 5.19
2 5.35
a 5.22
2
Federal intermediate credit bank loans
do
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent. .
3-5 year issues
do
166.4
CONSUMER INSTALLMENT CREDIT J
Total extended and liquidated:
Unadjusted:
Extended
Liquidated
miU
do_.
Seasonally adjusted:
Extended, total?
By major holder:
Commercial banks
Finance companies
Credit unions
Ketailers
do_
22,487
22,832
21,983
22,758
23,925
24,682
25,104
25,565
25,022
25,669
25,537
25,758
26,214
do_
do_
do_
do_
10,602
3,650
2,952
3,410
10,907
3,719
3,035
3,465
10,529
3,573
2,919
3,219
10,792
3,698
3.086
3,232
11,382
3,857
3,282
3,438
12,102
4,158
3,257
3,337
12,067
4,179
3,484
3,408
12,382
4,223
3,445
3,552
12,187
4,261
3,271
3,477
12,255
4,348
3,379
3,725
12,123
4,372
3,360
3,718
12,182
4,605
3,401
3,518
12,476
4,512
3,530
3,571
By major credit type:
Automobile
Revolving
Mobile home
do_.
do.
do_
6,719
7,716
461
6,889
7,985
457
6,541
7,960
447
6,730
8,147
405
7,043
8,398
493
7,434
8,523
529
7,592
8,563
527
7,595
9,062
510
7,652
8,700
509
7,744
9,028
531
7,542
9,006
7,501
8,840
604
7,787
9,170
494
19,849 '20,576 '20,824 '21,358 '21,556 '22,037 '21,857
22,384
3 22,115
do.
18,891
19,252
19,546
19,896
By major holder:
Commercial banks
Finance companies
Credit unions
Retailers
do_
do_
do_
do_
8,727
3,019
2,383
3,094
8,946
3,029
2,432
3,145
9,002
3,051
2,405
3,418
9,149
3,147
2,457
3,427
9,169
3,178
2,517
3,228
9,655
3,279
2,587
3,279
9,807
3,318
2,635
3,273
9,995
3,599
2,648
3,318
10,087
3,590
2,758
3,333
10,470
3,612
2,760
3,383
10,409
3.525
2,721
3,390
10,565
3,742
2,757
3,403
10,551
3,494
2,751
3,385
By type of credit:
Automobile
Revolving
Mobile home
do_.
do_
do.
5,179
7,024
412
5,252
7,226
398
5,215
7,545
5,397
7,698
389
5,409
7,566
398
5,622
7,840
417
5,715
7,919
426
5,953
8,107
440
5,941
8,100
426
6,140
8,291
452
6,010
8,384
422
6,126
8,500
579
6,032
8,511
411
Liquidated, total 9
Total outstanding, end of year or month:
By major holder: 9
Commercial banks
Finance companies
Credit unions
Retailers
do
do-.
do_.
do_.
do_
3
••180,617 '210,642 '225,207 '230,829 '230,126 '230,547 '233,842 '237,855 '243,371 '249,865 •253,897 •259,614 •263,387 265,576 269,445
37,149
28,401
17,026
102,348 110,135
41,546 43,961
34,378 37, 063
20,590 21,533
112,373 112,778 113,205
44,868 44,877 45,099
37,605 37,402 37, 758
23,490 22,526 21,869
By type of credit: 9
75,481 81,921 82,911 83,075
62,886
Automobile
do_
33,274 36,014 39,274 38,795
15,426
Revolving
do_
14,778 15,125 15,141 15,092
14,483
Mobile home
do.
r
2
3
Revised.
p Preliminary.
i Average for year.
Daily average.
See note "%"
4
for this page.
Data no longer available.
©Adjusted to exclude interbank loans.
§ For
bond yields, see p. S-21.
f Beginning Jan. 1959, monthly data have been revised to reflect
new seasonal factors and adjustment to bench marks for the latest call date (Dec. 31, 1975).
Revisions are available from the Federal Reserve Board, Washington, D.C. 20551. J Begin-
115,050 117,054 120,440 124,080
45,608 46,463 47, 580 48, 637
38,724 39,236 40,481 41,936
21,639 21,570 21,744 21,813
126,619 129,022 131,403 132,457 i 33.908
49,502 50,558 51,280 51,984 53,099
42,355 43,499 44,325 44,635 45,305
21,828 22,093 22,302 22,464 23,006
83,826 85,757 87,747 90,359 93, 361 95,289 97,687 99,062 100,159 101,565
38,143 38,034 38,426 38,967 40,001 40,553 41,029 42,420 42,579 43,523
15,070 15,149 15,287 15,396 15,532 15,CG3 15,799 15,910 15,925 I 10,017
ning Jan. 1979 SURVEY, the consumer credit group has been completely restructured. Comparable data prior to Nov. 1977 are available from the Federal Reserve Board, Washington,
D.C. 20551.
If Beginning Jan. 1973, data have been revised; revisions for Jan. 1973-April
1975 will be shown later.
9 Includes data for items not shown separately.
SURVEY OF CUK1 IEJSi'1 1 BUJS1JNE
January 1979
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1977
1976
S-19
1978
1977
Nov.
Annual
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 (—)
Budget financing, total
Borrowing from the public
Reduction in cash balances
mil. $.
—do...
-do. _.
do.
do.
do.
Gross amount of debt outstanding
do.
Held by the public
do.
Budget receipts by source and outlays by agency:
Receipts (net), total
mil. $..
Individual income taxes (net).
do..
Corporation income taxes (net)
do_.
Social insurance taxes and contributions (net)
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
Receipts and expenditures (national income and
product accounts basis), qtrly. totals seas. adj.
at annual rates:f
Federal Government receipts, totalt
bil. $.
Personal tax and nontax receipts
do
Corporate profit tax accruals.
do
Indirect business tax and nontax accruals-do
Contributions for social insurance
do
Federal Government expenditures, totalf..do
209,197 1357,762 27,596 32,794 33,201 26,795 24,879 42,343 34,961
365,648 1402,802 36,864 37,646 36,918 33,787 40,004 35,724 36,670
-66,451 -45,040 -9, 269 -4,852 -3,717 -6,992 -15,125 6,618 -1,709
» 66,451 1 45,040
» 82,913 53,516
—16,462 -8,476
631,866
480,300
9,269 4,852 3,717
6,027
8,854 9,971
415 -5,119 -2,310
6,992
5,108
1,884
15,125 -6,618
9,656 -2,263
5,469 -4,355
47,657 29,194 35,040
38,602 36,426 39,572
9,055 -7,232 -4,532
1,708 -9,055
5,401
-555
2,263 -14,456
42,591 28,745
38,935 42,691
3,655 -13,946
7,232
4,532 -3,655
3,195
9,039 2,821
4,037 -4,507 -6,476
13,946
6,484
7,462
709,138 718, 232 29,164 '31,821 739,650 '47,844 '46,431 '51,412 '58,804 r60,203 773,340 80,425 '85,267
551,843 562,548 .72,519 178,546 583,654 193,310 >91,048 >90,493 >95,894 .99,089 308,128 .10,948 117,433
32,794 33,201
13,941 20,217
9,212 1,991
26,795
10,620
1,013
24,879
5,258
8,023
42,343
18,883
8,850
34,961
14,293
1,183
47,657
20,301
14,655
29,194
14,590
1,785
6,647
2,995
7,998
2,996
12,427
2,736
8,560
3,037
11,828
2,831
16,092
3,395
9,287
3,414
9,518
3,300
1365,648 1402,802
i 12,796 ' 16,738
188,036 195,650
36, 864 37,646
2,840 3,018
8,721 '8,206
36,917
2,689
8,123
33,787
939
8,226
40,004
1,879
9,168
35,724
781
8,315
36,670
1,229
8,870
128,785 147,455
143,527 150,461
'3,944
13,670
118,415 i 18,019
13,300
3,058
339
1,597
13,179
6,344
320
2,604
13,125
5,082
315
684
13,378
3,601
342
1,514
14,387
3,386
370
2,676
12,756
5,647
316
556
13,826
3,657
361
1,751
1299,197 ^357,762
U30,795 U57,626
141,409 i 54,892
27,696
i 92,714 1108,688
134,281 '36,556
10,404
3,100
13,171
920
35,040 42,591 28,745
14, 784 20,883 15,922
1,122 9,753 1,684
8,515
7,805
3,335
38,602
819
8,854
36, 426 39,572 38,935
1,200 1,865
1,336
9,552 8,811
8,285
42,691
1,696
9,164
14,142
6,837
320
2,432
13,122
5,180
324
608
14,402
3,585
344
1,440
14,103
5,714
300
1,645
15,587
3,547
14,417
3,727
320
1,528
331.4
374.4
385.5
396.2
424.7
441.7
146.8
54.8
23.4
174.8
62.9
25.6
122.2
176.8
59.6
26.5
133.3
186.7
72.6
27.9
137.6
199.7
73.6
28.2
140.1
209.7
106.4
169.4
61.3
25.0
118.7
385.2
422.6
444.1
448.8
448.3
464.5
482.3
154.0
99.6
163.4
102.1
29.0
144.0
Purchases of goods and services
do...
National defense
do._.
Transfer payments
do
Grants-in-aid to State and local govts
do
Net interest paid
...do
Subsidies less current surplus of government
enterprises.
bil. $..
129.9
86.8
145.1
94.3
152.2
97.1
151.5
97.9
147.2
98.6
161.6
61.1
26.8
172.7
67.4
29.1
178.3
71.1
30.7
180.2
73.9
33.2
180.7
75.9
34.6
188.8
77.5
36.3
191.4
79.1
37.9
5.8
8.3
11.8
10.0
10.0
8.0
10.5
Less: Wage accruals less disbursements..do...
.0
0
.0
.0
.0
.2
.0
do...
-53.8
-48.1
-58.6
-52.6
-23.6
-22.8
bil. $_
do...
do
do
do...
321.55
20.26
154.93
91.55
84.13
351.72
23.56
171.65
96.85
88.01
348.77
23.52
171.22
95.20
86.55
351.72
23.56
171.65
96.85
88.01
10.48
25.83
2.00
16.50
11.06
27.56
2.13
18.92
11.01
27.41
1.53
18.88
11.06
27.56
2.13
18.92
11.14
27.69
1.64
18.82
324,849
213,784
104,683
6,382
367,335
242,842
117,960
6,533
31,722
44,049
21,611
9,593
518
26,063
17,755
7,862
445
Surplus or deficit (-)
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
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...
Industrial.
do...
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U.S. (end of period)...mil. $.. 11,598
11,719 11,595
Net release from earmark§
do...
331
116
426
Exports.
thous. $. 347,516 1,042,625 41, 553
Imports.
do
331,017 674,026 182,659
Production :1f
South Africa
Canada
mil. $.
do...
962.4
65.2
2 951.6
2 73.7
80.2
6.2
25,282
18,281
485
11, 719 11, 718
202
-116
78, 272 195,119
59,317 75,585
73.0
6.2
76.0
5.8
Silver:
8,798
Exports
_
thous. $. 2 61,434
454 14,666
84,645
Imports
d o . . . 325,252 3.54,818 32,698 25,587 136,446
4.409
4.706
Price at New York
dol. per fine oz.
4.353
4.623 4.828
Production:
1,219
4,286
United States
thous. fine oz.
26,708
27,519 3,280
r
Revised.
*> Preliminary.
i Data shown in 1976 and 1977 annual columns are for
fiscal years ending
June 30 and Sept. 30 respectively; they include revisions not distributed
2
to months.
Reported annual total; revisions not distributed to the months.
9 Includes
data for items not shown separately.
374.42 378.12
24.38 24.71
187.18 189.47
100.60 101.60
90.78 91.65
381.05
25.18
190.61
102.36
92.26
382.45
25.66
189.98
103.16
92.90
11.54
29.07
1.45
20.28
11.58
29.29
1.42
20.60
11.69
29.52
1.42
21.01
37,057
24,034
12,475
548
28, 579 32,529
20,691 23,610
7,399 8,399
520
490
34,364
22,138
11,737
488
34,039
24,699
8,682
658
11,718
19
32,674
49,529
11,706
47
23,118
82,745
11,693
26
40,906
32,994
82.8
6.2
80.2
5.8
78.5
6.0
81.1
5.9
7,936 13,665
10,735
82,384 210,902 164,590
4.936
5.118
5.273
5,758
29,915
5.121
6,194
33,206
5.316
359.11
24.03
176.98
98.02
88.82
363.27
23.88
180.37
98.58
89.21
366.94
24.27
182.34
99.19
89.67
24.20
183.70
100.04
90.34
11.22
27.84
1.46
19.03
11.21
28.02
1.57
19.27
11.27
28.25
1.48
19.44
11.54
28.43
1.54
19.62
11.54
28.65
1.48
20.27
26,603
18,893
7,264
446
35,877
23,952
11,351
574
31,562
22,359
8,634
569
33,589
24,147
8,876
566
11,718 11,718 11,718
41
-9
8
26,092 36,552 188,866
32,347 138,032 90,620
354.02 356.27
23.88
24.09
173.70 175.15
97.15
97.48
88.26
88.47
76.4
5.5
80.6
6.4
11.56
28.84
1.42
20.44
34,537
23,903
10,094
540
11, 679 11,668 11,655 11,642
23
22
19
5
29,538 269,917 45,804 207,133
71,754 58,454 121,231 74,477
82.8
83.6
79.8
79.4
6,079 12,468
32,209 33,105
5.331 <5.495
18,345
30,572
5.575
12,472
35,716
5.918
8,444
29,985
5.866
5.928
1,645
2,045
1,526 1,434 2,456
1,802
1,634
1,911
2,536
tData have been revised back to 1946 (see table 3.2 in the Jan. 1976 and July 1978 SURVEYS
§Or increase in earmarked gold ( - ) .
^Valued at $38 per fine ounce from Jan. 1972-Sept.
1973; at $42.22 thereafter.
« Corrected.
S-20
(JU1
su
1976
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1977
mJS1JN E S S
January 1979
1978
1977
Nov.
Annual
T
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FINANCE—Continued
MONETARY STATISTICS—Continued
Currency in circulation (end of period)
bil. $..
Money supply and related data (avg. of dailyfig.):©
Unadjusted for seasonal variation:
Total money supply
- - - bil. $..
Currency outside banks
do
T)pmand deDOSits
Time deposits adjusted H
U S Government demand deposits^
Adjusted for seasonal variation:
Total money supply Currency outside banks
Demand deposits
Timp denosits adiustedH
-
do
. do ..
..do....
93.7
103.8
101.9
103.8
100.8
101.4
102.4
103.1
105.4
106.3
106.6
107.6
107.7
109.3
112.1
305.1
77.8
227.4
467.8
4.1
327.4
84.8
242.6
517.1
4.2
338.4
88.4
250.0
536.0
3.5
348.2
90.1
258.1
542.6
5.1
347.5
88.7
258.8
549.5
4.3
335.9
89.0
247.0
554.9
4.3
338.2
89.9
248.2
563.2
4.8
350.9
91.0
259.9
567.1
5.0
345.3
91.9
253.3
572.9
4.0
351.7
92.9
258.8
576.6
6.2
356.0
94.1
262.0
579.9
4.5
354.2
94.3
259.9
584.6
3.6
358.8
95.0
263.8
589.9
6.2
361.3
95.8
265.6
594.0
4.3
362.8
97.4
265.5
601.1
8.1
371.4
99.2
272.3
605.6
10.2
336.2
87.7
248.5
540.1
338.5
88.6
249.9
545.0
341.7
89.4
252.2
550.6
341.8
90.1
251.7
556.7
342.9
90.7
252.3
561.7
348.5
91.2
257.3
565.2
350.6
92.1
258.5
571.6
352.8
92.8
259.9
574.5
354.2
93.3
260.9
579.4
356.7
94.0
262.8
583.0
360.9
95.2
265.7
589.7
362.0
96.0
266.1
593.6
360.6
96.7
263.9
605.3
361.1
97.5
263.6
607.8
..do....
do
-- . d o . . .
do
Turnover of demand deposits except interbank and
U.S. Govt., annual rates, seas, adjusted:
Total (233 SMSA's)©-.ratio of debits to deposits.
NPW York SMSA
do
Total 232 SMSA's (exceDt N Y )
6 other leading SMSA'sc?
22fi othpr SMSA's
do
do
Ho
143.9
391 9
(2)
90.7
129.4
75 7
(2)
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade Comm.):
Net profit after taxes, all industries
mil. $..
Food and kindred products
do
64,519
5,826
809
2,270
7 610
70,366
5,575
828
2,367
8,060
18,390
1,455
268
580
1 900
16,064
1,236
225
563
2,020
22,189
1,707
343
719
2 392
20,436
1,531
311
629
2 251
Ho
11,725
1,447
913
2,085
12,179
1,686
873
864
2,972
455
140
365
2,549
246
191
161
3 152
655
376
791
3,423
759
303
642
mil $
3 196
3 458
862
720
1,167
1 030
7,889
4 073
9,131
5,383
2,510
1 562
2,067
1,387
3,029
1,710
2,471
1 757
mil $
do
do
1,687
5 099
9 890
1,989
6,133
11,840
468
1,525
3,328
498
1,471
2,730
506
2 014
3,628
675
1 020
3 634
do
22 763
26 585
7,844
6,392
6 957
7 056
57 801
53,618
Textile mill nroducts
Psiper sind &llied products
OhpTnioals and allipd Droducts
do
do
do
T^ptrolpnm and coal nroducts
Stone clav and class Droducts
Primary nonferrous metal
PriTnarv iron and stpel
do
do
do ..
Fabricated metal products (except ordnance,
Tnachinprv and transport pnuiD )
do
Elec. machinery, equip., and supplies.. do
• IVIachinerv fexceDt electrical)
Transportation
vphiclps ptc ^
equipment
(except motor
All nth PI* Tnannfaptnrini? indnstrips
Dividends paid (cash), all industries....
SECURITIES ISSUED
Securities and Exchange Commission:!
Estimated gross proceeds total
By type of security:
Bonds and notes corporate
Common stock
Preferred stock
By type of issuer:
Corporate total 9
M anufacturing
Extractive (mining)
Public utility
mil. $
I
5,019
6,385
3,074
2,409
5,642
3,458
4,889
5,274
4 056
3,260
2,314
1,821
3,872
2,434
3,157
3 598
3 446
2,353
do
41 182
37,532
2,696
4,850
do
8 304
2 803
8,034
3,393
1,556
339
596
445
462
171
388
138
674
148
239
235
649
390
819
586
451
57
625
157
52,290
15,493
1 762
14 415
48,958
12,225
2 589
13 199
4,591
744
207
1,714
5,891
1,994
167
1,030
2,947
273
328
644
2,347
716
99
465
4,694
1,229
187
1,258
2,908
549
142
618
4,196
878
100
1,885
5,003
1,471
334
1 244
3,954
842
370
799
3,135
721
277
875
3 626
3 562
10 283
1 641
4 353
11 565
126
1,010
630
253
232
1,570
70
519
1,023
41
34
912
113
291
1,311
252
35
931
216
0
811
209
349
1,017
261
353
1,115
87
552
375
33, 845
21,905
45 060
21,349
3,142
1,339
3,506
1,049
3,224
1,171
2,662
1,521
4,430
1,556
3,489
4,915
5,146
985
4,122
1,870
3,685
1,598
6,020
1,760
••2,289
1,937
r 3,272
r
1,273
10,901
10,024
877
11,027
10,172
855
11,424
10,510
914
(2)
10,910
11,332
11,438
11,984
12,626
12,307
635
1,875
630
1,795
715
2,170
755
2,395
700
2,300
710
2,295
795
2,555
825
2,655
885
2,464
do
mil. $ . .
do
do
do
do
Transportation
do
Communication
do
Financial and real estate
State and municipal issues (Bond Buyer):
Long-term
do
...do
Short-term
__
4,026
978
3,556
2,062
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at brokers and banks, end of month
or year, total
™il $
10 866 10,680 10,866 10,690
9 011
9,839
9,859
9,993
9,993
8 166
do
At brokers
851
822
873
873
845
do
At banks
Free credit balances at brokers:
660
630
640
640
Margin accounts
585
do
1,925
2,060
2,060
1,845
1,855
Cash accounts
...do...
r
Revised.
* Preliminary.
i Beginning Jan. 1973, does not include noncorporate
bonds and notes formerly included. 2 Data no longer available.
© Effective February
1976 SURVEY, data revised to reflect; Annual review of seasonal factors; regular benchmark
adjustment; effect of changes in check collection procedures (Regulation J); and adjustments
to include newfiguresfrom internationally oriented banking institutions. Monthly revisions
back to 1970 are in the Feb. 1976 Federal Reserve Bulletin.
(2)
IfAt all commercial banks.
OTotal 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.
§ Data revised back to 1973; no monthly revisions for 1973-75 are
available.
9 Includes data not shown separately.
January 1979
O F UUKJKJUJNJ 1 tfU SlJNJi JSIS
JSLLR
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
Annual
S-21
1977
Nov.
1978
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 grade corporate:
Composite cf
dol. per $100 bond..
Domestic municipal (15 bonds)
do
U.S. Treasury bonds, taxable^
do
58.0
72.5
59.6
81.3
59.2
83.2
58.4
81.7
57.2
80.9
56.9
81.8
57.0
82.0
56.3
79.8
55.5
77.2
55.2
75.7
54.5
75.2
56.1
77.0
56.1
77.6
54.7
77.4
54.3
76.6
53.3
73.8
58.96
56.89
56.24
55.62
53.74
53.09
52.90
52.15
51.34
50.91
49.97
51.32
51.67
50.11
49.54
48.38
,262.11
,646.35
353.57
400.87
372.15
283.80
378.68
408.75
451.17
410.47
348.52
459.78
393.73
392.14
334.59
320.23
9.01
8.43
8.48
8.54
8.74
8.78
8.80
8.88
9.02
9.13
9.22
9.08
9.04
9.20
9.40
9.49
8.43
8.75
9.09
9.75
8.02
8.24
8.49
8.97
8.08
8.34
8.56
8.95
8.19
8.40
8.57
8.99
8.41
8.59
8.76
9.17
8.47
8.65
8.79
9.20
8.47
8.66
8.83
9.22
8.56
8.73
8.93
9.32
8.69
8.84
9.05
9.49
8.76
8.95
9.18
9.60
8.88
9.07
9.33
9.60
8.69
8.96
9.18
9.48
8.69
8.92
9.11
9.42
8.89
9.07
9.26
9.59
9.03
9.24
9.48
9.83
9.16
9.33
9.53
9.94
8.84
9.17
8.85
8.28
8.58
8.13
8.36
8.61
8.10
8.42
8.65
8.10
8.60
8.87
8.20
8.65
8.90
8.32
8.66
8.93
8.41
8.72
9.05
8.49
8.84
9.19
8.60
8.92
9.33
8.68
9.05
9.38
8.70
8.95
9.21
8.72
8.90
9.17
8.68
9.03
9.37
8.74
9.21
9.58
9.01
9.31
9.67
9.15
6.56
6.49
5.67
5.56
5.47
5.38
5.66
5.48
5.63
5.60
5.63
5.51
5.69
5.49
5.89
5.71
6.19
5.97
6.29
6.13
6.12
6.18
6.16
5.98
6.09
5.93
6.22
5.95
6.29
6.03
6.61
6.33
7.06
7.14
7.23
7.50
7.60
7.63
7.74
7.87
7.94
8.09
7.87
7.82
8.07
8.16
8.36
7.98
7.61
7.67
7.85
7.92
7.99
8.07
8.06
8.11
8.31
8.42
8.26
8.24
8.29
8.43
8.84
303.91
974.92
92.28
214.03
301.70
894.62
110.96
225.16
284.77
828.51
110.85
212.22
283.84
818.80
111. 45
214.02
273.04
781. 09
106.97
209.90
267.80
763.57
104.32
208.14
265.75
756.24
105.48
204.50
276. 65
794. 66
105.85
214.50
288.45
838.56
104.85
225.96
288.53
840.26
105.48
224.33
287.85
831.71
105.54
227.06
306.73
887.93
108.51
248.96
305.26
878.64
106.67
250.25
294.58
857. 69
103.88
234.64
261.61
767.73
93.93
202.30
274.87
807.94
99.38
211.12
102.01
114.35
115.52
92.73
98.20
108.44
106.79
85.27
94.28
103.71
100.76
83.90
93.82
103.13
101.36
82.89
90.25
99.34
99.43
80.14
88.98
97.95
96.25
79.11
88.82
97.65
93.12
78.68
92.71
102.07
97.86
82.69
97.41
107.70
104.69
86.84
97.66
107.96
106.36
87.51
97.19
107.39
105.16
86.68
103.92
114.99
115.19
92.45
103.86
115.11
113.94
91.30
100.58
111. 56
111.37
88.00
94.71
105.23
103.38
81.71
96.11
106.92
105.82
82.53
48.16
14.17
45.87
11.46
52.14
97.96
105.01
54.23
14.06
49.94
11.63
47.34
98.23
112.42
54.46
13.23
46.44
11.25
42.57
94.92
109.22
54.54
13.34
46.46
11.15
41.63
93.73
108.45
52.40
13.13
46.13
10.46
40.32
90.14
101.86
51.60
12.91
44.69
10.33
38.74
89.56
99.37
51.72
12.70
43.61
10.50
38.66
90.36
101.01
52.16
13.30
44.77
11.20
42.04
97.09
107. 52
51.71
14.01
46.05
11.87
45.20
102.28
107.88
52.25
13.88
44.92
11.87
44.85
101.70
108.43
52.32
14.00
43.97
11.75
43.62
100.76
106.90
53.35
15.41
47.26
12.85
48.02
113.19
117.48
52.54
15.46
48.19
12.76
48.01
114.25
115.64
51.28
14.62
47.63
12.23
48.13
111. 80
110.98
49.04
13.17
43.56
11.21
43.61
99.93
101.35
49.32
13.10
43.37
11.36
43.19
100.78
105.07
Sales:
Total, excl. U.S. Government bonds (SEC):
All registered exchanges:
Market value
mil. $..
Face value.
.
do
New York Stock Exchange:
Market value
—.
do
Face value.
.
do
New York Stock Exchange, exclusive of some
stopped sales, face value, total. . . mil. $
Yields:
Domestic corporate (Moody's) §
percent..
By rating:
Aaa .
.
do .
Aa
do—.
A
do
Baa .
do. ..
By group:
Industrials
do
Public utilities
do
Railroads,
..do
Domestic municipal:
Bond Buyer (20 bonds) . . .
doStandard & Poor's Corp. (15 bonds)
do
U.S. Treasury bonds, taxable O__
do
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
do
Industrials
do
Public utilities.
do
Railroads
do _
Yields, composite
percentIndustrials
..
. d o
Public utilities
do
Railroads
do
N.Y. banks
do
Property and casualty insurance cos
do
Earnings per share (indust., qrtly. at ann. rate;
pub. util. and RR.,for 12mo. ending each qtr.):
Industrials
dollars
Public utilities
do....
Railroads
_
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)
Standard & Poor's Corporation: cf
Combined index (500 Stocks)
1941-43=10
Industrial, total (400 Stocks) 9
do...
Capital goods (111 Stocks)
do
Consumer goods (189 Stocks)
do
Utilities (40 Stocks)
....do
Transportation (20 Stocks)*
1970=10.
Railroads (10 Stocks)
1941-43=10.
Financial (40 Stocks)*
1970=10.
New York Citybanks (6Stocks) .1941-43=10.
Banks outside N.Y.C. (10 Stocks)
do.
Property-Casualty Insurance (6 Stocks)-do
'Revised.
» No longer available.
§ Revised
will be shown later,
cf Number of issues represents number currently
6.78
0)
0)
0)
0)
yields by rating for Jan. 1974-Nov. 1975
used; the change in number does not
affect continuity of the series.
II Prices are derived from average yields on basis of an assumed 3 percent 20-year bond.
O For bonds due or callable in 10 years or more.
9 Includes data not shown separately.
* New series.
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
January 1979
1977
Nov.
Annual
RJWJN' r BUSINESS
OF
SUf
S-22
1978
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
54.46
60.44
39.57
36.97
52.94
Sales:
Total on all registered exchanges (SEC):
1194,969
Market value
mil. $
1
7,036
Shares sold
millions
On New York Stock Exchange:
1
164,545
Market value
mil. $
Shares sold (cleared or settled)
millions.. 15,649
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
5,360
(sales effected)
millions..
Shares listed, N.Y. Stock Exchange, end of period:
Market value all listed shares
bil. $
Number of shares listed
millions..
858. 30
24,500
53.69
57.86
41.08
40.92
55.25
51.87
55.62
39.30
40.33
54.04
51.83
55.55
39.75
40.36
53.85
49.89
53.45
39.15
39.09
50.91
49.41
52.80
38.90
39.02
50.60
49.50
52.77
38.95
39.26
51.44
51.75
55.48
41.19
39.69
55.04
54.49
59.14
44.21
39.47
57.96
54.83
59.63
44.19
39.41
58.31
54.61
59.35
44.74
39.28
57.97
58.53
64.07
49.45
40.20
63.28
58.58
64.23
50.19
39.82
63.22
187, 203
7,023
15,698
597
15,953
637
14,442
568
11,889
482
15,794
639
20,335
802
27,367
1,041
24,391
923
18,318
669
30,452
1,099
27,312
3,335
157, 250
5,613
13,407
486
13,376
504
12,334
462
9,990
387
13,289
510
17,316
650
23,486
848
20,557
744
15, 229
534
26,123
895
22,272
789
5,274
495
451
428
369
498
696
776
671
541
865
796. 64
26,093
793.99
26,000
796.64
26,093
750.45
26,153
737. 55
26, 276
760. 31
26,388
820. 76
26,411
829.63
26,588
818.95
26, 736
864.13
26,940
890.57
27,012
56.40
61.60
46.70
39.44
60.42
52.74
57.50
41.80
37.88
54.95
53.69
58.72
42.49
38.09
55.68
672
682
515
493
883.85
27,152
792.03
27,243
811. 60
27,401
822.74
27,573
FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
mil. $.. 115,339.9 121,212.3 9,692.6 11,399.9 29,366.9 9, 518.5 12,079.4 12,069.7 12,494.6 12,487.3 10,944.
Exports (mdse.), incl. reexports, totalcf
Excl. Dept. of Defense shipments
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
Asia; Australia and Oceania:
Australia, including New Guinea.
India
_
_
Pakistan
Malaysia
Indonesia
Philippines
Japan
...do
do
115,149.8 121,150.4
do..
do..
do..
...do..
430.0
5,205.6 5,545. 6
29,728.5 31,428.9 2,423.4
228.9
2, 689.9 2,876.5
35,900.6 36.296.0 2,755.3
544.4
582.7
435.2
518.9
372.1
415.8
529.3
567.1
486.6
510.2
510.5
3,277.8 2,463.4 2,578.5 3,366.1 3,174.2 3,297.0 3, 390. 2 3,209.4 3,346.8 3,589.0 3.583.3
289.7
233.2
256.8
260.6
203.0
253.2
354.7
289.7
224.4
355.8
293.6
3,557.5 3,010.1 2,996.0 3,723.9 3,846. 8 2, 726.0 3, 690.2 3,076.2 3,467.7 3,829.2 3.786.4
do
do
do
24,111.0 25.752.1 2, 222.7
755.2
8,368.0 8,660.5
8,595.4 9,274.8
779.7
1,995.9 1,858.1 1,945.5 2,412.0 2, 451.8 2,654.7 2, 612. 6 1,995.5 2,143.8 2,397.0 2,806.0
729.7
867.7
868.9
969.9
851.8
898.4
922.7
691.7
956.6 1,033.1
926.4
649.5
840.0
901.6 1,047.4
927.9
891.6
896.0
932.2
747.1
981.2
970.8
do
do
810.0
1,347.6
982.4
1,054.4
68.2
72.7
81.1
55.3
67.0
82.6
75.6
111.4
81.5
129.6
91.5
75.2
94.5
118.9
89.5
110.7
76.1
80.8
90.7
86.7
92.2
86.6
118.0
do
do
do
..do
2,199.2
1,135.8
394.3
535.6
2,375.6
778.6
292.7
560.7
163.4
74.0
17.7
40.9
244.2
92.4
9.3
53.6
191.2
72.7
17.2
49.6
172.8
90.1
47.0
52.4
209.8
75.9
72.9
59.7
193.0
75.8
46.8
54.8
249.7
65.8
35.5
56.6
243.2
128.8
30.2
58.4
219.4
84.7
16.3
72.6
216.4
70.1
40.0
59.4
312.5
86.7
54.8
70.9
296.6
49.0
48.9
69.5
1,034. 6
763.2
818.2
875.9
10,144.7 10,522.1
74.3
67.2
875.8
62.3
85.5
1,068.1
79.3
57.4
743.2
70.5
69.1
84.7
79.4
869.4 1,015.9
57.6
59.2
60.0
53.8
55.2
56.2
76.6
87.3
88.2
87.1
90.0
91.8
88.8
969.9 1,009. 3 1, 046.1 1,046.7 1,092.3 1,193.5 1,248.9
3,446. 3
3.503.2
281.1
318.3
271.2
294.1
325.3
340.8
325.1
338.6
280.1
415.2
395.5
64.9
36.1
8.3
1.6
13.9
9.5
5.6
2.2
18.8
21.5
.3
11.5
15.4
17.2
5,730.8
5.982.0
459.0
590.2
447.1
462.5
625.4
544.3
493.2
518.3
472.7
542.2
802.6
668.4
do
do
do
3.071.1
2,309.6
4.801.2
2,787.5
1,627.5
5.380.1
234.4
134.7
370.1
252.4
173.4
556.0
211.7
155.2
550.5
217.3
197.3
488.4
280.6
241.7
635.1
299.2
308.3
791.2
291.8
356.5
533.7
342.5
265.4
574.2
258.0
170.9
460.6
222.6
163.0
534.0
275.1
97.0
575.9
302.0
96.5
593.1
do
24,106.4 25,748. 8 2, 222.5
1,995.8 1,858.0 1,945.1 2,411.9 2,451. 8 2, 654.6 2, 612. 5 1,995.4 2,143.8 2,396.9 2,805.9
do..
do..
do
.do__do_.
do.
do.
15,487.4 16,346.5 1,398.1
73.2
543.7
731.1
202.5
2.482.3
40.9
507.7
520.2
59.8
702.7
782.0
437.6
4,990.0 4,806.1
283.1
2,627.8 3,170. 5
1,593.3 1.304.4 1,263.3 1,631.6 1, 562. 6
46.5
53.0
73.3
60.5
56.0
165.0
237.8
224.1
211.6
234.8
35.4
38.5
42.5
49.7
32.6
59.9
81.7
87.4
79.8
65.2
425.4
515. 2
505.0
490.5
379.3
214.7
336.0
301.5
316.7
256.9
do..
do..
...do.
Europe:
France..
_
...do
German Democratic Republic (formerly E.
Germany)
mil. $.
Federal Republic of Germany (formerly W.
Germany)
mil. $.
Italy.
_
Union of Soviet Socialist Republics
United Kingdom..
North and South America:
Canada
Latin American Republics, total 9
Argentina...
Brazil.
Chile
Colombia
Mexico.
Venezuela.
_
Exports of U.S. merchandise, totald1
Excluding military grant-aid
Agricultural products, total
Nonagricultural products, total.-
113,666.0
113,475.9
22,997.6
90,320.9
119.005.5
118,943.7
23,671.0
94,291.8
9,522.8
9,520.4
2,081.5
7,396.8
By commodity groups and principal commodities:
Food and live animals 9
mil. $.. 15,710.1
Meats and preparations (incl. poultry).do....
798.0
Grains and cereal preparations
do
10,910.9
14,115.7
796.9
8,754.8
1,142.9
67.3
677.9
1,846.8
142.4
do
...do
..do
_.do
Beverages and tobacco
do
Crude materials, inedible, exc. fuels 9
Cotton, raw, excl. linters and waste
Soybeans, exc. canned or prepared
Metal ores, concentrates, and scrap
do.
do
do
do
1,523.5
10,890.7 13,086.3 1,131.5
1,048. 7 1,529. 5
103.1
3,315.4 4,393. 2
520.0
1,284.9 1,197.0
69.9
11,201.5
11,197.7
2,323.9
'8,807.6
9,216.6
1,214.1
1.943.5
7,273.1
373.9
L, 729.2 1,708.2 1,662.7 1,720.5 1,843.7 1,853.9
70.0
83.1
55.1
67.5
76.2
73.3
266.0
239.1
262.4
251.8
278.6
275.7
56.2
70.7
64.4
69.5
77.2
76.3
73.3
122.7
78.4
96.1
73.3
81.0
535.2
663.2
547.9
543.3
597.9
598.8
357.0
316.3
338.6
292.3
375.9
289.6
9,341. 7 11,835.8 11,859.6 12,250.0 12,271.7
9,337.8 11,830.5 11,854.1 12,234.3 12,261.7
2,068.1 2.519.4 2,508.0 2,729.3 2, 639.8
7,273.6 9.316.4 9,351. 6 9,520. 7 9, 631.9
10,780.0
10.769.4
2,133.8
8,646.2
11,429.3
11.421.4
2.391.1
9.038.2
12,505.7
12,504.4
2,268.0
10,237.7
12,926.4 13,433.5
12; 922.6 13,416.5
2,665.8
10,260.6
1,348.2 21,132.7 1,271.5 1,465. 7 1,472.8 1,684. 2 1,737.1 1, 540.6 1,716.2 1,645.7 1, 597.9 1,513.7
77.6
74.1
63.8
93.2
94.4
62.2
77.5
78.1
90.7
64.8
75.3
657.1
856.9
942.7 1,168. 0 1,193.0 1,008.5 1,107.2 1,049.2
937.8
819.8
920.1
282.6
2
138. 0
168.0
213.6
144.3
143.6
141.5
1,179.6 21,049.8 1,063.4 1,337.5 1,388.6 1,466.5 1,353.9
156. 6
143.8
154.2
145. 6
157.6
182.8
203.8
355.3
323.0
583.4
468.2
334.2
513.3
431.5
111.5
105.9
149.9
149.5
162.3
84.8
112.5
r
1
Revised.
Annual total reflects revisions not distributed to the monthly data.
2
Beginning Jan. 1978, data are based on a new classification system and include nonmonetary gold; the overall total and the commodity groups (but not the items within the groups)
have been revised back to Jan. 1977 to reflect these changes.
11,621.8 12,714.4 13,157.4 13,672.3
1,934.0 11,613.9 12,!, 713.1 13,153.6 13,655.4
9,690.2 11,396.1 »9,364.4 9, 514.6 12,074.2 12,064.2 12,478. 9 12,!, 477. 3 10,
9,477.9 10,999.0 U0,014.3 1,922.4 10.912.1 11,634.9 11,753.7 12,125.7 11, 792.5 12,469.3 13,428. 9 13; 010.5 13,261.5
161.6
213.3
176.9
251.3
281.1
992. 5 1,083. 4 1,111.9 1,470.4 1,678.4
153.7
84.7
114.4
132.2
271.9
593.2
262.6
238. 6
162.1
176.6
179.8
152.0
cf Data may not equal the sum of the geographic regions, or commodity groups and principal commodities, because of revisions to the totals not reflected in the component items.
9 Includes data not shown separately.
January 1979
SUE
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
O F (JUKI
1978
1977
Nov.
Annual
S-23
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS—Continued
Exports of U.S. merchandise—Continued
By commodity groups and principal commodities—Continued
4,183.6
Mineral fuels, lubricants, etc. 9
mil. $_. 4,225.8
Coal and related products
do
2,988.2 2.730.4
1,275.6
Petroleum and products. _
do
997.6
1,308.7
Oils and fats, animal and vegetable
do.
978.1
10,812.3
Chemicals
do.
9,958. 7
11,206.1 10,857.0
Manufactured goods 9f.
do..
1,970.9 1,958.9
Textiles...
do..
1,906.8 1.660.5
Iron and steel.
_
.do..
1,088.4 1.058.4
Nonferrous base metals._
do..
Machinery and transport equipment, total
mil. $.. 49,501.2
Machinery, total 9 - - .
Agricultural
M etal working
Construction, excav. and mining
Electrical. _r_
Transport equipment, total
Motor vehicles and parts
do.
.do.
do.
do.
..do.
do.
do.
Miscellaneous manufactured articles
do.
Commodities not classified
do
50,247.6
362.1
243.4
103.9
315.3
181.0
118.0
112.5
116.0
736.0
1,037.4
815.4
135.7
138.7
69.4
977.1
185. 5
136.7
103.3
4,074.7
4,768.7
31,290.8 32,516.6 2,644. 2
135.7
2,107.7 1,871.1
41.9
730.3
949.2
320.8
4.945.3 4.405.5
878.5
9, 278.5 0,285.3
[8,210.4 8,520.0 , 501. 5
10,954.2 1,796.5
, 015.4
6,574.9 8,233. 9
692.9
2.749.4 4.313.6
312.3
188.9
52.8
115.8
141.0
37.1
86.4
165.2
24.5
119.4
284.5
134.7
137.6
363.6
235.1
112.9
424.0
289.8
121.1
321.7
180.2
118.9
335.4
181.7
139.1
348.0
176.7
156.8
422.1
256.1
152.7
465.9
196.0
97.2
141.5
145.4
119.3
132.1
130.7
120.9
156.3
113.9
121.0
1 830. 2
883.2
,031.1
971.3
., 018.7
, 063.4
, 077.2
149.1
197. 9
085.0
, 174.4
848.4
140.6
120.2
72.5
., 067.7
173.4
136.0
84.6
171.1
129.0
73.3
, 100.4
192.9
146.6
86.2
, 092.5
189.7
152.8
88.6
939.5
164.2
129.4
80.7
024.7
180.9
149.3
86.1
132.5
202.5
149.7
119.1
120.8
212. 6
164.3
88.2
, 134. 3
142.7
113.0
59.5
13,852.0 3, 941.9 5,144.4
, 098.2
i, 132.2
, 075.2 4,486.8 4,599.8
, 142.1
586.4 5,497.3
, 088.0
196.3
102.4
56.4
591.1
1
, 201.9
, 912.3
166.3
92.5
51.2
549.1
,574.5
873.2
, 933.3
146.0
102.8
47.5
581.8
, 666.4
878.5
,211.4
148.4
89.0
49.0
624.4
, 930. 7
, 124. 4
358.1
158.4
100.0
50.7
628.4
, 228.3
, 330.3
857.2
777.9
855.9
953.6
936.0
395.0
351.6
330.6
703.0
325.1
631.3
i, 064.7 2,465.2
159.3
132.8
73.8
86.3
404.7
61.1
971.2
467.0
, 787.3 ., 386.8
995.8
903.3
741.8
1 665.6
434.8
433.6
, 546.5 3,289. 7
174.4
222.9
82.7
113.1
58.7
66.5
483.8
597.4
395.4 , 854.7
948.2 , 181. 6
, 127. 9 3,239. 3
224.5
221.2
112.4
85.2
62.7
59.8
616.2
587.7
970. 3 , 892.9
203. 7 , 247.3
878.5
854.6
237.5
390.4
511.1
12,270.1 13,372.0 12,717.7 .3,286.4
12,406.6 13,474.2 12,380.9 .4,440.2
14,547.3
L3,669.3
312.8
VALUE OF IMPORTS
General imports, total
Seasonally adjusted
_
By geographic regions:
Africa.
_
Asia
Australia and Oceania..
Europe
Northern North America
Southern North America
South America
_
By leading countries:
Africa:
Egypt
Republic of South Africa
do.
do.
47,685.0
14,486.0 14,199.2 14,514.5 4,703,9 14,024.0 14,416.9 .5,118.3 15,054.9
14,496.1 13,992.1 13,722.7 14,779.3 14,090.2 15,120.0 .5,138. 0 15,207.0
do.
.do.
do.
do.
12,644.0 .7,023.9
39,366.8 t9,421.7
1,671.2 1,719.6
23,645.6 28,330.9
494.8
826.3
101.9
,029.4
476.6
503.6
215.0
783.4
388.2 , 325. 3 1,409.8 , 407.2 1, 310.5 1,261.2 1,355.6 1,430.7 1,465.4 ,425.0
234.1 :, 565. 8 4,702.6 4, 924.2 4, 640.3 "., 013.7 , 148.7 », 153.2 i, 089.6 s 092. 3
198.4
176.8
209.9
178.0
192.4
201.7
174.9
209.6
234.2
121.5
, 759.7 2,875.1 3,443.1 3,285.3 3, 088.5 3,155.7 3,421.2 3,140.0 2,904. 6 3,321.3
do
do
do
26,246.8 29,375.4
9,348.9 LI, 590.7
7,760.6 9,343.1
, 765.3
893.5
686.7
573. 5
990.0
764.4
, 360.3
,047.1
806.2
!, 562.9
, 022.0
756.5
92.5
924.8
170.0
1,268.8
15.8
129.0
2.1
155.7
1.0
126.5
154.4
1,285.7
708.3
69.8
939.6
3,004.3
882.9
5,504.2
1,264.2
781.1
57.0
1,321.6
3,491. 3
1,103.2
.8,622.7
86.4
79.2
3.1
109.6
250.3
91.3
,559.1
2,508.8
3.030.7
223.4
300.2
290.9
301.3
361.8
376.3
361.2
316.3
396.1
321.6
278.7
13.6
16.7
.7
2.6
4.0
1.5
4.8
4.1
3.5
1.2
2.5
4.1
2.6
2.7
5.592.0
2.529.8
220.2
4.254.3
7.215.3
3,037.5
234.4
5,067.9
569.1
215.1
18.8
333.9
771.3
279.0
12.5
472.0
767.2
274.0
25.4
457.4
775.2
243.6
20.8
506.1
876.6
360.6
98.2
566.4
875.3
344.6
57.1
553.8
758.6
335.4
13.6
568.1
780.8
357.7
46.1
597.6
940.3
376.2
21.6
553.0
839.4
391.0
54.6
537.7
704.8
326.6
23.1
529.8
836.4
343.2
110.5
576.8
26,237.1 29,355.7 2,763.7
, 572.4
do
do
Asia; Australia and Oceania:
Australia, including New Guinea
do
India
do
Pakistan
._
_
do
Malaysia...
do
Indonesia
_
_
do"""
Philippines
_
...do
Japan
do
Europe:
France
do
German Democratic Republic (formerly E.
Germany)
...mil. $..
Federal Republic of Germany (formerly W.
Germany
_
mil. $..
Italy
_..
do....
Union of Soviet Socialist Republics
do....
United Kingdom
do
North and South America:
Canada
_
121,008.6
do
136.2
155.3
96.8
73.1
66.1
63.6
3.4
5.3
5.3
96.6
130.8
86.4
290.4
283.3
209.9
90.4
119.1
81.7
807.1 1.784.4 1, 842.4
, 806.2 2, 780.3 3, 049.8 2,991.2 2, 665.3
,067.5 , 008. 2 1, 074.4 , 074.1 1,049.9
864.2
816.3
842.5
942.4
870.6
15.6
186.4
2.0
141.7
10.5
189.4
3.4
146.3
148.6
128.5
139.2
143.8
139.7
152.4
110.5
81.6
78.3
88.0
90.8
6.0
9.2
7.4
7.7
7.2
119.4
141.6
154.9
120.1
121.6
346.4
312.9
358.5
225.1
338.5
86.6
97.6
101.8
96.5
95.4
,103.7 2,181. 9 2, 010.1 2,048.9 2,217.2
, 376.2 2,759.4 3,116.9
, 005.2 1,056.8 1,024.0
741.1
928.0
906.6
1.7
169.1
15.3
228.1
4.8
208.0
137.9
166.5
91.7
83.6
6.5
6.6
149.8
143. 5
314.9
291.5
103.9
118.1
,065.5 2,064.8
155.1
85.6
10.2
120.3
305.9
110.9
, 120.4
337.6
2,664.7 2,372.8 2,757.9 3,115. 5
, 360.2 2, 562. 6 2,802.4 2, 777. 6 3,047.4
Latin American Republics, total 9
do
13,228.3 16,335.3 1,262.6 , 445.8 1.485.8 1,396.8 1, 592. 8 1, 509. 3 1, 546.8 1,507.8 1,538.7 ,378.2 1, 571.9 1,639.0
Argentina..
do ~
43.1
54.5
47.3
49.8
41.6
39.8
52.6
56.6
383.3
43.2
41.7
307.9
49.7
30.0
Brazil..
_.
do""" 1, 736.6 2,245.9
176.7
256.0
215.2
283.9
199,5
125.8
265.2
207.8
223.6
216.2
231.6
227.3
Chile. __
.do...
18.9
35.7
32.7
35.2
39.5
14.1
32.1
,25.7
33.6
31.1
260.8
221.6
56.0
38.6
Colombia
___
do
85.6
81.4
124.1
89.1
68.4
68.9
111.5
70.4
86.1
90.3
821.6
654.8
66.3
70.7
Mexico
.....I'll
d o " 3.598.1 4.684.8
531.2
495.4
480.5
446.6
428.0
521.
6
511.8
451.0
451.0
471.5
460.9
498.1
Venezuela
_do"I 3.574.4 4.071.9
248.3
271.4
286.2
249.4
283.2
329.6
268.4
252.7
411.0
260.6
343.7
295.8
By commodity groups and principal" commodities:
Agricultural products, total...
.
mil. $
803.1 1,309.8 1.239.9 1, 245.1 1,405. 7 1, 346. 7 1,290. 5 1,168.3 1,192.9 1,021.2 1,107.9 1,231.0
11,179.3 13,538.3
Nonagricultural products, total
d o . . . 109,510.4 133,278.4 10,995.4 11,997.4 11,477.8 12,041.3 13,141.6 13,139.4 12,908.7 13,346.1 13,511.0 13,002.8 13,309.1 13,887.3
Food and live animals 9
Cocoa or cacao beans,..
Coffee
Meats and preparations.
Sugar..
_._
do...
do
do""
do
...do...
10,267.6 12,557.8
357.9
485.5
2,632. 3 3,860.9
1.447.0 1,273.2
1,154. 0 1,079.1
901.6
21.0
221.0
63.0
76.3
1,294.6 11,126.9 1,111.4 1,257. 5 1,161.5 1,143.4 1,045.9 1,126.1
38.8
54.8
46.8
67.0
92.2
53.3
23.0
68.9
256.5
285.8
259.9
383.6
345.0
316.0
414.4
155.0
155.3
153.2
124.6
157.5
148.4
171.0
107.6
69.2
59.7
110.4
185.4
32.4
43.6
14.5
52.2
924.0 I, 048. 9 1,152. 2 1,168. 7
40.4
43.5
23.0
210.1
238. fi 329.5
175.3
125.7
158.5
65.4
59.8
97.1
Beverages and tobacco.._
do.
1,623.7
1,669.4
105.0
159.8
1138.1
162.4
174.7
201.5
189.2
212.7
177.4
170.2
168.2
211.5
209.6
Crude materials, inedible, exc. fuels 9
Metal ores...
Paper base stocks .
Textile
fibers
Rubber
:::::::::::
do
do
do"
do""
So
7.014.1
2.250.9
1.275.5
249.3
520.0
8,486.2
2.234.4
1,252.4
225.1
650.3
715.2
218.1
115.8
7.7
31.5
781.2
205.0
95.2
18.0
69.5
« 650.4
183.6
95.0
20.4
41.2
657.2
199.0
91.2
18.8
40.7
768.5
218.5
91.7
21.8
62.5
712.4
177.5
84.0
23.2
72.8
841.4
233.1
108.9
19.4
66.7
769.8
230.8
85.3
21.9
47.2
788.0
236.8
91.7
28.6
43.0
817.4
266.9
91.0
23.7
64.3
829.3
279.9
88.9
17.1
72.8
831.2
272.7
104.0
17.2
52.7
843.2
Minerals fuels, lubricants, etc
Petroleum and products..
do
do"
3, 491. 6 3,536.2
33,999.6 44.537.2 3,702.9 3,153.0 13,422.2 3,502. 3 3,431.2 3,513.5 3,234.1 3,471.5 3,380.1 3, 677.1
31,797.9 41,526.1 3,322.1 3,223. 0 3,149.4 3,241.3 3,194.2 3, 246. 4 2,954. 0 3,235.3 3,140. 7 3,448.8 3,471.8 3,260.2
Oils and fats, animal and vegetable
Chemicals
_
Manufactured goods 9 If
Iron and steel
Newsprint
Nonferrous metals
Textiles
do
" "do
do
do
do
do
do
530.7
4,970.4
39.0
311.6
17,621.9 21,367.0
4,347. 6 5,804.4
1,742.4 1,871.8
3,506.3 3 938.4
1,634.9 1,772.4
1,763.0
557.7
175.6
311.3
118.8
463.9
4,772.4
1 S e en o t e 2 f o r
?
V??vise^'
P- s ~ 2 2 Includes data not shown separately.
H Manufactured goods-classified chiefly by material.
41.1
549.0
129.3
i 418.9
46.6
472.7
46.0
604.2
42.7
611.6
51.5
583.9
46.7
547.2
49.4
546.9
43.0
514.9
30.2
537.9
40.9
541.4
51.7
512.5
2,117.6 11,982.9 2,195.4 2,334.1 2,383.0 2,359.3 2,301.0 2,418. 3 2,218. 6 2,215.4 2, 344. 5 2,373.4
619.2
612.1
593.9
538.4
669.4
637.9
593.9
666.5
516.4
493.0
636.8
180.1
176.6
164. 7
190.0
172.5
152.7
194.1
159.7
177.1
177.2
195.7
422.0
377.4
344.3
509.8
356.5
494.9
404.5
443.8
433.2
465.1
480.6
181.3
175.3
184.2
188.3
176.2
186.1
201.4
192.2
159.7
191.6
199.5
Dec.
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
1978
1977
Nov.
Annual
January 1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF IMPORTS—Continued
General imports—Continued
By commodity groups and principal commodities—Continued
Machinery and transport equipment
mil. $. 29,824.7 36,406.8 3,190.1 3,643.1 *3,392.7 3,573.2 4,050.7 4,085.5 4,020.4 4,132.9 4,108.2 3,578.5 3,832.0 4,294.6 4,238.3
Machinery, total 9
d o . . . 15,184.5 17,663.8 1,399.2 1,668.8 1,619.9 1,751.8 1,979.7 2,003.1 2,011.6 2,073.3 2,217.6 2,046.5 2,077.1 2,277.2
46.7
433.5
67.8
75.2
73.8
91.0
31.2
69.3
80.5
69.5
86.4
362.1
82.1
76.8
Metalworking
do...
763.9
407.7
453.3
335.0
349.8
408.4
411.5
446.4
465.2
494.0
685.7
467.7
Electrical
d o . . . 7,424.3 8,432.0
Transport equipment
Automobiles and parts
Miscellaneous manufactured articles
Commodities not classified
d o . . . 14,640.2 17,829.9 1,645.5 1.766.3 1,772.7 1,821.4 2,071.0 2,082.3 2,008.8 2,059.6 1,890.6 1,532.0 1,754.9 2,017.4
13,104.0 15,842.0 1,480.9
1,556.6 1,574.6 1,854.8 1,854.4 1,776.3 1,840.3 1,676.3 1,361.0 1,547.1 1,817.8
1.535.4
do
12,564.1 13,809.4 1,118.9
*1,227.9 1,293.7 1,511.1 1,439.7 1,460.0 1,651.5 1,782.5 1,756.5 1,751.9 1,827.1 1,799.9
1,305.4
do
304.2
369.2 334.8
383.3
2,537.7 3,335.7
327.0
335.2
414.6
316.0
321.4
328.4
253.5
327.2
do...
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
219.4 P 223.0 p 224.0 P 232.2 p 231.3 "234.2 " 238.8 "237.3 "248.1
211.1 p 208.2 P 213.9 *>206.8 p 182.3 "190.9 "205.0 " 213.3 "211.7
p 463.3 p 464.2 p 479.0 "408.1 "421.7 "447.2 " 489.6 "506.1 "525.3
202.1
182.7
369.1
J»211.8
* 181.7
*384.7
213.0
174.2
371.0
215.4 *219.9 *219.6
202.3 P 164.1 *162.8
435.7 *360.8 "357.5
248.8
182.1
452.9
»269.2
*204.2
*549.8
275.5
192.5
530.3
271.1
220.6
598.0
280.7
203.6
571.6
281.2
212.8
598.3
289.4
226.4
655.2
290.3
224.5
651.9
292.6
218.4
639.1
293.6
222.3
652.7
293.3
225.1
660.4
295.0
213.4
629.6
294.3
220.5
649.0
thous. sh. tons.
mil. $.
283,070
64,712
274,413
65,376
22,978
4,625
24,594
6,371
18,144
4,947
18,930
5,108
21,712
6,431
24,142
6,313
28,057
6,912
29,487
6,842
24,969
5,989
26,001
6,385
26,260
6,646
thous. sh. tons.
mil.$.
517,450
81,171
612,798
103,037
48,176
7,312
56,856 •44,640 •45,952
10,620
9,132
47,200
9,680
47,681
47,176
9,400
47,840
9,657
50,703
10,143
53,652
9,880
56,196
9,780
P
P
296.3
228.7
677.7
303.9
222.8
677.0
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue)
Passenger-load factor §
bil.
percent.
178.99
55.4
24,121
19475
56.2
26,100
mil-
17,503
14,266
1,497
326
16,781
451
19,925
16,274
1,719
390
19,017
731
145.27
2,909
719
156.61
3,125
751
13,899
13,324
331
15,821
15,165
497
bil.
mil.
do...
33.72
2,187
407
36.61
2,302
Operating revenues (quarterly)©
, . . m i l . $_.
Operating expenses (quarterly)©
do
Net income after taxes (quarterly)©
do
3,605
3,457
120
4,104
3,852
234
Ton-miles (revenue), totali
Operating revenues (quarterly) 9 O
Passenger revenues
Cargo revenues
Mail revenues
Operating expenses (quarterly)©_„
Net income after taxes (quarterly)©
Domestic operations:
Passenger-miles (revenue)
Cargo ton-miles
Mail ton-miles
Operating revenues (quarterly) 0
Operating expenses (quarterly)©
Net income after taxes (quarterly)©
International operations:
Passenger-mile (revenue)
Cargo ton-miles
Mail ton-miles
mil. $.
do...
do
do_._
do...
do...
_bil.
.mil.
do
mil. $.
do...
do...
397
14.84
53.9
2,116
17.04
57.4
2,315
16.62
56.8
2,143
14.51
55.1
1,948
14.01
271
87
13.42
236
12.03
251
3.04
209
43
15.32
309
74
3.20
220
28
2.49
158
27
3.12
199
33
22.48 P23.70 P19.03
68.9 *>71.1 *60.2
2,811 *2,972 P 2 , 5 1 5
'5,708
„„
6,308
5,230
520
86
5,603
629
r
492
90
5,258
405
14.32
14.46
293
16.53
300
64
17.74
281
59
18.93
316
65
4,556
4,205
311
3.25
193
32
3.50
177
3.98
187
28
14.78
308
65
P18.81
*58.2
*2,536
15.03
»*12.90 p 14.03
4,902
4,406
4.73
197
27
4.78
193
28
1,152
1, 053
94
964
958
—5
1,023
978
20
20.51
67.6
2,630
17.96
62.1
2,363
4,151
4,053
67
4,145
3,979
107
2.60
252
35
17.58
59.9
2,344
5,115
4,226
432
89
5,011
63
5,169
4,153
494
154
4,957
127
12.24
281
65
18.45
60.6
1,460
4.25
211
29
3.78
234
32
1,406
1,197
195
Urban Transit Systems
5,690
5,979
Passengers carried (revenue) . .*.
mil..
Motor Carriers
Carriers of property, large, class I, qtrly.:*
Number of reporting carriers
100
100
Operating revenues, total
mil. $ . . 211,420 '13,853
Net income, after extraordinary and prior period
charges and credits
mil. $ . .
'452
2 349
Tonnage hauled (revenue), common and contract
carrier service..
mil. tons..
201
217
Freight carried—volume indexes, class I and I I
intercity truck tonnage (ATA):
Common and contract carriers of property
(qtrly.) cf
average same period, 1967=100..
148
137
Common carriers of general freight, seas, adj.t
1967=100..
166.2
152.3
479
492
»615
616
670
654
571
619
646
100
3,569
100
100
4,166
126
46
153
154
58
54
61
58
172.9
162.6
175.9
177.3
4,750
4,440
85
4,905
160
167
152
137
163.6
691
100
3,913
Class I RailroadsA
Financial operations, qtrly. (AAR), excl. Amtrak:
5,110
20,116
Operating revenues, total© 9
mil. $ . . 18,574
4,798
18,916
Freight
do
17,433
88
337
Passenger, excl. Amtrak
do
330
4,184
Operating expenses©
do.
16,392
14,954
828
3,377
Tax accruals and rents
do
3,152
98
347
Net railway operating income
do
468
199
284
Net income (after taxes) ©
do
1273
r
2
Revised.
" Preliminary.
i Before extraordinary and prior period items.
Annual
total; quarterly revisions not available.
3 Beginning Jan. 1978, data are for total unlinked
passenger trips; revenue passenger data no longer available.
9 Includes data not shown
separately.
ifApplies to passengers, baggage, cargo, and mail carried.
§ Passengermiles 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 groups
of carriers also reflect nonscheduled service.
*New Series. Source: ICC (no comparable
data prior to 1972).
610
192.5
182.8
178.5
5,720
5,368
89
5,375
177.6
177.6
184.3
5,394
5, 015
'91
5,268
235
-156
203
-274
d"Indexes are comparable for the identical quarter of each year (and from year to year).
AEffective 1976, denned as those with annual revenues of $50 million or more; restated 1977
data reflect changes.
©Natl. Railroad Pass. Corp. (Amtrak) operations (not included in
AAR data above), 1975 and 1976 (mil. $): Oper. revenues, 235; 287; net loss, 353; 469 (ICC).
• Domestic trunk
operations
only (domestic trunks average about 90% of total domestic
h
operations).
See note 2 for p. S-22.
f Effective Mar. 1977 SURVEY, revised back to
1957 to new trading day and seas. adj. factors.
January 1979
1JNK: 5S
OF CURRENT
U n l e s s otherwise stated in footnotes b e l o w , data
through 1974 and descriptive notes are a s s h o w n in
the 1975 edition of B U S I N E S S S T A T I S T I C S
1976
1977
S-25
1978
1977
Nov.
Annual
Jan.
Dec.
Feb.
Mar.
Apr.
June
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION—Continued
Class I Railroads A—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.
822.5
794.1
2.196
186.6
10, 634
862.6
826.2
2.289
199.1
10, 295
127
31.32
63
22.48
67
139
34.96
65
24.65
70
138
35.70
67
24.96
66
7,700
7,755
6,264
5,382
2,817
60,521
8,201
8,198
6,492
5,364
3,107
36,602
16,621
14, 618
23,321
6,679
138.5
219.2
208.6
2.294
207.
5,258
235.8
203.4
192.7
188.5
' 210.5
207.6
207.6
207.7
207.8
207.9
208.2
215.2
215.7
143
35.54
50
24.66
53
124
38.43
60
26.11
63
139
38.32
68
26.80
157
38.09
67
27.42
73
155
39.37
74
27.07
74
164
39.83
73
28.55
75
169
39.14
72
28.91
78
174
36.77
66
29.28
78
163
575
520
457
409
180
2,634
511
619
535
446
162
2,050
633
592
550
450
217
1,679
570
586
405
325
239
2,520
711
721
567
420
379
2,757
706
662
550
420
351
3,439
718
804
603
496
371
785
917
686
522
380
8,232
40,754
18,667
16,312
26,120
7,298
149.9
3,563
1,627
1,422
2,312
628
144.2
3,573
1,622
1,435
2,373
603
149.9
3,640
1,642
1,487
2,302
661
145.6
3,585
1,645
1,406
2,248
654
145.5
3,788
1,683
1,570
2,447
660
146.1
3,715
1,688
1,469
2,335
685
146.4
3,820
1,692
1,574
2,470
673
146.9
527.7
423.0
75.4
554.8
439.6
86.9
46.5
37.6
7.0
46.8
39.0
7.0
44.5
36.5
5.4
44.8
35.3
6.8
47.9
35.9
9.2
46.6
36.6
7.3
349.5
256.3
71.9
396.9
279.4
108.4
34.7
22.0
9.4
34.9
24.5
8.8
35.4
23.8
9.2
34.2
23.5
9.0
38.7
25.3
11.8
36.5
24.4
10.4
198.6
237.9
~215.~8"
215.8
29.67
82
160
38.20
70
29.00
75
167
42.06
77
28.99
76
1,024
858
925
545
308
12,047
1,077
901
948
844
290
11,037
742
910
741
698
196
6,375
740
624
640
539
178
5,264
3,828
1,694
1,560
2,424
702
147.2
3,783
1,680
1,526
2,356
712
147.5
3,924
1,725
1,636
2,532
703
146.6
3,942
1,765
1,573
2,527
718
148.9
49.1
37.5
9.0
48.1
37.5
8.5
46.8
37.0
7.2
50.4
39.1
47.9
37.9
7.5
51.1
53.9
5.9
38.0
25.0
10.3
39.2
25.4
11.0
36.7
24.8
39.3
26.0
11.6
38.0
25.3
= 11.0
39.9
31.7
12.1
884
221
951
237
39
115
925
210
33
92
••919
f-226
36
101
950
233
39
()
'885
63
()
918
73
108
216.3
231.0
612
593
581
517
168
2,732
* 156
1,921
Travel
Hotels and motor-hotels:
Restaurant sales index
same month 1967=100.
Hotels: Average room sale!f
dollars.
Rooms occupied
% of total.
Motor-hotels: Average room saleii
dollars.
Rooms occupied
% of total.
Foreign travel:
U.S. citizens: Arrivals©
thous.
Departures©
do...
Aliens: Arrivals©
do...
Departures©
do...
Passports issued
do...
National parks, visits§
do...
COMMUNICATION
Telephone carriers:
Operating revenues?
mil. $.
Station revenues
do...
Tolls, m essage
do...
Operating expenses (excluding taxes)
do...
Net operating income (after taxes)
do...
Phones in service, end of period.._
...mil.
Telegraph carriers:
Domestic:
Operating revenues
mil. $
Operating expenses
do...
Net operating revenues
(before
taxes)
do_.
Overseas, total id1
Operating revenues
do_.
Operating expenses
...do._
Net operating revenues (before taxes)
do_.
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
Production:
Aluminum sulfate, commercial (17% AI2O3):!:
thous. sh. tons..
Chlorine gas (100% Cl2)t
do_...
Hydrochloric acid (100% IICl) J
do
Phosphorus, elementalt
do
Sodium carbonate (soda ash), synthetic (58%
NajO)J
thous. sh. tons_.
Sodium hydroxide (1CO% NaOH)i
do....
Sodium silicate, anhj'drousj
do
Sodium sulfate, anhydrous?-do
Sodium trypolyphosphate (100% NasPsOio)!
do
Titanium dioxide (composite and pure)}" do
Sulfur, native (Frasch) and recovered:
Production
thous. lg. tons..
Stocks (producers') end of period
do
1,230
10,378
2,496
437
1,162
10, 664
2, 568
431
102
833
222
35
103
868
224
36
97
816
215
33
2,344
10,516
1,812
10,481
781
1,241
155
852
71
115
140
842
66
102
107
818
67
709
56
55
59
49
59
47
747
1,232
724
713
93
825
212
33
102
813
230
36
95
890
253
104
()
823
66
104
()
867
64
115
792
5,478
57
54
735
5,441
5,389
63
67
780
5,352
107
875
224
37
()
861
68
114
()
864
67
104
58
()
()
941
62
97
906
64
102
59
63
58
63
63
60
60
63
66
60
826
5,368
811
5,437
810
5,519
795
5,498
776
5,472
•5,386
'97
19,402
5,563
1
9,389
5,409
776
5,413
801
16,716
7,186
2,010
7,892
2,068
7,955
33,300
17,398
7,454
3 1,904
7,877
2,640
8,456
35,821
1,424
610
(6)
663
224
640
2,900
1,460
564
(6)
629
220
699
2,991
1,391
612
155
643
199
693
3,041
1,208
530
157
595
173
718
3,031
1,435
701
160
767
227
830
3,365
1,558
689
177
736
224
830
3,319
1,553
640
168
719
218
822
3,410
1,424
563
164
625
210
768
3,250
1,374
512
172
604
191
732
3,107
1,329
537
182
627
»176
803
3,350
1,296
523
153
'603
9 168
'796
• 3,337
6,699
573
6,309
23,108
1,169
16,741
1,650
507
631
408
1,984
174
1,420
179
541
573
318
2,251
132
1,538
112
556
600
458
4
2,165
4
168
* 1,272
4
154
562
571
447
1,924
153
1,340
80
673
506
687
2,150
192
1,448
162
627
400
789
1,690
73
1,321
58
639
471
692
1,831
129
1,306
119
569
494
557
2,293
148
1,368
205
573
461
417
2,596
364
1,431
210
614
395
598
2,651
406
1,496
237
'619
'379
487
2,690
354
1,571
361
327
8,229
157
21
36
553
0
46
21
642
12
47
48
609
21
27
545
30
54
31
851
16
81
59
53
26
812
21
37
37
849
5
22
3
735
15
13
11
682
0
14
11
619
16
790
5,245
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous}:
thous. sh. tons__
Ammonium nitrate, original solution!
do
Ammonium sulfatei
. . . do
Nitric acid (100%HNO3)t
clo___Nitrogen solutions (100% N)}
do
Phosphoric acid (100% P2O5)t
do
Sulfuric acid (1CO% B2SO4)t
do__._
Superphosphate and other phosphatic fertilizers
(100% PjO6):
Production
thous. sh. tons..
Stocks, end of period
do.
Potash, deliveries (K 2 O)0
do
Exports, total 9
do
Nitrogenous materials
do
Phosphate materials
do
Potash materials
do
Imports:
Ammonium nitrate
do
Ammonium sulfate
do
Potassium chloride
do
Sodium nitrate
do
5,824
469
1 6,160
1
18,324
1,239
2351
1,670
312
566
7,475
103
7
' Revised.
* Preliminary.
1 Annual total; monthly revisions are not available.
2
3
4
For month shown.
Reported annual total; see note 6 for this page.
Because of an
overall revision to the export commodity classification system effective Jan. 1, 1978, data
5
may not be strictly comparable with those for earlier periods.
Less than 500 short tons.
6
7
Data are being withheld to avoid disclosing figures from individual companies.
See
" ® " n o t e , this page. 8 Excludes data for byproduct (other than coke oven); withheld to avoid
9
disclosure of figures from individual companies.
Represents solutions containing ammonia
and ammonium nitrate/urea solutions; not comparable with those shown for earlier periods.
A See " A " note, p. S-24.
H Average daily rent per occupied room, not scheduled rates.
9 Includes data not shown separately.
© Beginning Jan. 1977, data exclude potassium
magnesium sulfate; not strictly comparable with those shown for earlier periods.
669
13
1,442
643
8 42
733
9 200
853
3,463
399
620
1,985
290
1,347
122
21
18
654
15
549
1,781
170
1,241
70
23
34
©Effective 1976 d a t a are compiled b y U . S . D e p t . of T r a n s p o r t a t i o n from I N S records
and refer t o air t r a v e l ; t r a v e l b y sea is o m i t t e d (for 1973-75, average a n n u a l arrivals a n d d e p a r t u r e s b y sea are as follows—units a n d order as a b o v e : 814; 784; 159; 129).
m m
§ Effective J a n . 1976, d a t a include visits t o V o y a g e u r s N a t i o n a l P a r k (no c o u n t of visits for
earlier periods is available); d a t a for Mar . - J u l y 1976 are restated t o delete visits t o P l a t t N a tional P a r k w h i c h w a s reclassified as a n a t i o n a l recreation area.
c o n c l u d e s d a t a for Western U n i o n I n t . C a b l e & Wireless.
I M o n t h l y revisions b a c k t o 1971 are available u p o n r e q u e s t .
c
a F o r J u l y - D e c , 1977.
Corrected.
<JU1
S-26
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
T BlJSJJN
January 1979
1978
1977
Annual
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS—Continued
Industrial Gases t
Production:
Acetylene..
mil. cu. ft.
Carbon dioxide, liquid, gas, and solid
thous. sh. tons.
Hydrogen (high and low purity).
mil. cu. ft.
Nitrogen (high and low purity)
do...
Oxygen (high and low purity)..
do...
Organic Chemicals cf
Production:
Acetylsalicylic acid (aspirin)
mil. lb.
Creosote oil
mil. gal.
Ethyl acetate (85%)
mil. lb.
Formaldehyde (37% HCHO)...
do...
Glycerin, refined, all grades
..do...
Methanol, synthetic
mil. gal.
Phthalic anhydride...
mil. lb.
ALCOHOL*
Ethyl alcohol and spirits:
Production
mil. tax gal.
Used for denaturation
do...
Taxable withdrawals.
do...
Stocks, end of period
do...
Denatured alcohol:
Production
.mil. wine gal.
Consumption (withdrawals) _
do...
Stocks, end of period
do...
7,111
5,972
456
454
431
413
422
450
434
449
402
448
'415
457
2,064
82,099
288,867
388,446
2,256
84,459
331,545
392,984
183
7,098
29,210
31,033
182
7,107
30,147
32,606
147
7,041
31,853
32,012
158
6,591
28,902
30,001
189
7,809
33,497
34,409
190
7,269
31,776
200
7,342
33,235
37,805
204
7,186
32,273
36,298
205
7,394
31,879
36,295
210
7,510
34,001
37,554
205
' 7,762
32,653
36,904
207
7,811
34,023
128.3
131.4
177.1 i 161.2
i
217.8
* 215.6
15,449.3 16,046.5
321.2
286.0
i 940.1 i 971.8
i 902.4 1926.0
1.8
13.0
14.4
533.3
24.6
83.3
68.1
2.3
14.2
13.9
481.8
24.5
88.0
82.9
2.7
8.4
15.4
488.4
23.8
65.3
72.5
2.1
8.3
16.7
477.7
21.0
62.5
72.6
3.0
13.6
17.1
571.3
23.4
57.7
85.2
2.4
13.1
12.4
555.1
23.5
87.3
81.5
3.2
11.9
18.4
550. 4
26.3
78.0
92.7
3.0
13.9
22.5
549.1
21.8
77.3
93.4
2.5
10.1
19.8
535.8
20.0
83.3
87.2
2.5
11.6
20.4
522.8
29.4
79.8
80.1
2.5
12.9
17.9
546.6
26.4
87.9
79.6
2.5
11.8
20.8
• 585.0
28.3
73.2
73.9
499.6
415.9
78.4
85.3
498.3
' 405.2
81.0
71.4
48.8
31.6
7.6
72.9
39.7
25.1
7.5
71.4
35.8
35.1
6.9
68.3
41.1
32.4
5.8
75.2
50.4
37.3
7.5
78.9
42.2
32.1
7.3
80.8
31.3
37.2
7.2
74.6
48.7
37.5
7.5
76.2
42.5
25.4
5.9
85.8
45.4
36.6
7.7
88.4
50.5
30.3
7.4
40.3
40.3
8.2
76.8
225.3
225.6
3.2
223. 8
224.6
2.6
19.9
19.4
2.9
16.0
16.2
2.6
19.1
19.2
2.5
17.4
17.1
2.8
19.9
19.9
2.8
17.7
17.7
2.9
21.3
21.3
2.9
20.3
20.2
3.0
17.0
17.0
3.1
19.9
19.9
3.0
16.9
17,4
2.6
21.7
21.4
2.9
11,305.3 11,797.1
18.774.7 110,100.1
12,551.0 12,705.8
14,742.9 15,203.0
14.544.8 15,267.3
144.1
834.1
224.3
468.9
417.4
131.3
227.6
434.7
392.3
136.6
845.1
235.7
413.3
430.2
138.2
739.4
210.8
396.5
413.8
154.9
916.7
253.0
467.1
477.2
149.1
905.2
226.8
474.9
481.0
148.2
915.4
232.3
479.6
501.6
143.5
900.8
232.2
483.4
128.8
937.1
232.0
450. 5
458.1
142.7
960.4
260.5
427.5
469.8
151.8
962.2
257.3
473.4
459.1
169.5
967.0
246.8
477.8
500.3
319.1
149.4
169.8
341.1
160.7
180.3
2.9
12.8
21.7
526.7
24.7
60.9
76.5
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins...
Polyethylene and copolymers
Polypropylene
Polystyrene and copolymers
Polyvinyl chloride and copolymers--
mil. lb.
do...
do...
do...
do...
151.7
937.5
268.2
434.8
479.7
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly
mil. lb.
Paints, varnish, and lacquer, factory shipments:
Total shipments
mil. $.
Trade products
do...
Industrial
finishes
do...
2,543.0
4,678.0
2,446.4
2,231.7
2.675.1
647.4
350.5
165.2
185.2
4,517.7
2,278.5
2.239.2
305.9
140.7
165.2
445.1
809.5
786.7
416.6
204.0
212.5
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total
mil. kw.-hr.
Electric utilities, total..
do.
P2,037,654 P2,124,078 167,059 184,205 197,271 173,676 173,157 159,749 175,184 187,408 202,595 205,637 185,597
By fuels.
do.
1,753,948 1,903,643 146,662 161,449 172,488 151,260 148,496 134,406 146,409 162,166 178,037 183,505 164,338
By waterpower...
...do.
283,706 220,435 20,397 22,756 24,783 22,416 24, 661 25,343 28,775 25,242 24,558 22,132 21,259
Industrial establishments, total
By fuels.
By waterpower
do.
do.
do.
Sales to ultimate customers, total (Edison Electric
Institute)
mil. kw.-hr.. 1,849,625 1,950,791 153, 250 162,654 174,427 169,924 164,064 153,146 153,813 165,403 176,403 181,386 108,454
Commercial and industrial:
Small light and power§
do
440,625 469,227 36, 725 38,306 39,922 39,498 38, 467 36,001 36,252 40, 365 44, 071 44,918 44,206
Large light and power§
do
725,169 757,168 62,973 62,479 63,348 59,724 60,150 61,706 65,057 67,449 65,894 67,819 68,998
Railways and railroads.
_
Residential or domestic
Street and highway lighting.
Other public authorities
Interdepartmental
do.
do.
do
do
do
4,337
613,072
4,212
652,345
348
47, 568
371
55,611
415
64,624
421
64,283
14,413
45,625
6,383
14,418
46,242
7,179
1,313
3,741
582
1,359
3,916
612
1,396
4,135
587
1,258
4,172
567
377
59,283
1,227
3,978
583
336
49,722
1,170
3,643
316
46, 764
353
51,533
1,119
3,719
586
1,101
4,005
597
335
60,266
1,129
4,103
606
344
62,366
342
60,883
1,168
4,173
598
1,218
4,201
605
Revenue from sales to ultimate customers (Edison
Electric Institute).mil. $.. 53,462.9 62,610.0 5,013.6 5,259.7 5,674.5 5,626.9 5, 646.4 5,277.1 5,278.2 5,802. 3 6,318.6 6,510.8 6,420. 2
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
45,128
45,725
45,725
46,172
45,580
45,355
do.
do.
_do.
do.
41,519
3,377
2 179
2 53
42,108
3,400
2 175
2 42
42,108
3,400
175
42
42,445
3,490
183
54
41,984
3,373
172
51
41,816
3,332
169
tril. Btu.
14,814
14,341
5,312
3,180
2,551
do.
_do.
do.
do.
5,014
2,423
2 7,107
2 270
4,946
2,409
2 6,711
2275
1,270
626
1,717
67
2,439
1,066
1,692
115
960
492
1,662
429
306
1,758
59
mil. $..
23,701
28,303
7,524
11,166
-thous..
Residential..
_.do.
3,045
9,941
11, 541
1,340
Commercial..
_
do.
4,075
4,980
Industrial
_.
_do.
2 9,374
2 11,385
104
Other
.do.
2 311
2 397
r
Revised.
v Preliminary.
i
Reported
annual
total;
revisions
are
not
distributed
to
2
the monthly data.
Beginning 1976, Industrial includes electric generation, prior to 1976,
electric generation was included with other.
§Data are not wholly comparable on a year
66
6,861
5,503
5,685
1,332
2,517
2,330
713
1,118
3,019
3,374
3,128
85
131
97
to year basis because of changes from one classification to another.
cf Data are reported on
the basis of 100 percent content of the specified material unless otherwise indicated.
JMonthly revisions back to 1973 are available upon request.
January 1979
SURVEY OF CUK KEjy r BU SLNh
1976
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1977
Annual
$-27
1978
1977
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
16.74
15.29
19.81
17.61
16.28
14.33
14.62
13.72
14.01
14.01
12.99
13.71
Nov.
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES 9
Beer:
Production
___
mil. bbL.
Taxable withdrawals.._
.do
Stocks, end of period
do
Distilled spirits (total):
Production
.mil. tax gal..
Consumption, apparent, for beverage purposes
mil. wine gal..
Taxable withdrawals
mil. tax gal..
Stocks, end of period
do
Imports
-mil. proof gal.
Whisky:
Production
mil. tax gal.
Taxable withdrawals
do...
Stocks, end of period
...do...
Imports
mil. proof gal-
Rectified spirits and wines, production, total
mil. proof gal.
Whisky
...do...
Wines and distilling materials:
Effervescent wines:
Production..
mil. wine gal.
Taxable withdrawals
do...
Stocks, end of period
...do
Imports
do
Still wines:
Production
.do...
Taxable withdrawals
.do...
Stocks, end of period
do
Imports.
do
1
15.63
13.60
15.01
16.56
15.00
14.97
16.88
15.82
14.57
11.84
13.69
15.15
14.95
7.63
13.20
14.61
18.78
38.42
21.12
690.80
9.74
33.82
20.15
34.36
17.44
9.29
38.75
20.61
683.36
10.94
32.06
15.63
678.12
9.08
35.77
21.30
672.34
9.80
34.23
20.18
669.16
10.94
25.42
665.18
14.83
14.13
11.58
629.07
9.04
7.77
9.52
627.72
7.12
6.80
11.37
624.89
8.70
3.09
8.68
619. 70
6.99
6.06
11.39
614.91
7.98
7.36
12.00
610.95
8.46
8.39
15.12
605.23
12.14
11.55
163.66
150.39
12.91
170.51
156.92
12.42
12.02
11.48
13.02
12.01
11.51
12.42
160.42
159.34
13.78
12.21
11.88
11.29
425. 89 1 432.56
216.40 ' 220.11
752.85
706.86
112.71
112.94
43.84
21.18
712.02
11.59
54.63
19.24
706.86
11.53
30.55
18.28
701.16
8.29
30.16
16.87
691. 79
8.65
11.52
80.60
79.12
5.65
126.67 ' 127. 69 12.76
649.00 653.85
692.34
91.15
9.70
92.07
5.11
10.89
649.00
9.29
5.25
10.11
643.65
6.59
5.40
9.70
633.82
6.76
5.45
12.08
633.43
7.63
6.39
12.87
10.69
13.92
12.71
11.01
12.02
15.86
14.18
14.56
685.96
107.71
41.85
110.46
41.48
10.25
3.67
10.63
4.12
9.95
3.95
8.00
2.70
10.00
3.42
8.68
2.81
9.36
3.10
9.79
3.36
7.46
3.03
10.25
3.48
9.77
3.40
10.49
4.49
20.59
19.22
8.74
2.56
22.86
21.35
8.56
2.93
2.67
3.27
9.36
.26
2.19
2.71
8.56
.32
1.72
1.04
9.06
.21
1.51
.97
9.59
.18
1.84
1.25
9.84
.29
10.19
.30
1.94
1.71
10.67
.40
1.24
.83
10.22
.40
1.92
1.13
10.97
.28
2.55
1.76
11.58
.30
2.06
1.90
11.43
.40
2.73
3.27
8.51
.44
.64
405.78
298.25
473. 72
56.36
409.75
310.38
505.36
65.79
51.24
27.56
513.13
2.92
25.99
28.00
505. 36
5.34
6.22
25.20
478.44
5.61
3.99
21.23
461.30
5.39
4.79
31.63
434. 92
6.62
5.70
25.65
411.29
7.26
4.81
25.62
348.02
7.98
4.51
26.34
355.00
8.64
2.53
23.32
320.44
8.18
32.67
25.43
332. 30
8.06
140.20
26.29
431.50
7.68
151.16
29.10
553.44
8.05
8.38
344.77
278.55
24.88
7.55
4.81
5.49
2.45
1.57
1.90
3.56
1.46
32.17
97.78
67.42
Butter, creamery:
978.6
Production (factory)!
mil. lb.
47.1
Stocks, cold storage, end of period
do
.944
Price, wholesale, 92-score CN.Y.)..
.$ per lb.
Cheese:
3, 320. 2
Production (factory) total!
mil. lb. 2,048.8
American, whole milk!..
.do
478.4
Stocks, cold storage, end of period..
do...
411.3
American, whole milk
do
206.8
Imports
do
Price, wholesale, American, single daisies (Chi1.161
cago)
$ per lb_.
Condensed and evaporated milk:
Production, case goods!
mil. lb.932.1
Stocks, manufacturers', case goods, end of month
or year
mil. lb..
70.6
Exports:
Condensed (sweetened)
do
4.4
Evaporated (unsweetened)
.do
44.5
Fluid milk:
Production on farms?
do
120,269
Utilization in mfd. dairy products!
do
63,630
Price, wholesale, U.S. average!
$ per 100 lb..
Dry milk:
Production:
Dry whole milk!..
...mil. lb..
78.1
Nonfat dry milk (human food)!
do
926.2
Stocks, manufacturers', end of period:
Dry whole milk
do
9.1
Nonfat dry milk (human food)!
do
98.8
Exports:
31.6
Dry whole milk
do
10.3
Nonfat dry milk (human food)
.do
Price, manufacturers' average selling, nonfat dry
.634
milk (human food)!
$ per lb..
1,085.6
184.9
1.015
81.5
193.4
1.050
89.5
184.9
1.060
108.3
195.7
1.047
95.7
215.9
1.035
97.7
235.6
1.059
98.5
245.6
1.084
96.7
264.6
1.088
84.7
280.9
1.093
73.7
312.7
1.117
64.2
282.4
1.207
64.5
266.6
1.220
71.1
251.8
1.219
66.7
228.8
1.260
3,357.9
2,042.4
247.7
135.4
281.6
160.1
274.0
163.6
260.6
154.3
311.8
182.9
306.2
190.8
• 328. 7
208.2
332.9
209.3
297.0
183.4
284.6
167.5
264.9
149.2
279.4
159.0
276.3
153.5
468.6
404.7
209.4
479.8
417.4
15.2
468.6
404.7
43.5
460.2
394.4
14.5
442.6
378.1
14.1
431.0
365.3
16.7
448.2
379.8
13.6
462.3
392.1
13.8
501.1
424.3
13.0
501.6
425.5
16.4
491.1
418.0
22.7
475.8
396.4
19.3
455.0
378.9
22.0
431. 1
357. 1
1.187
1.211
1.224
1.229
1.241
1.246
1.259
1.259
1.259
1.260
1.321
1.340
818.9
47.1
58.8
56.2
52.1
67.3
68.9
82.4
78.8
73.8
69.0
58.2
58.9
52.3
75.2
101.0
75.2
59.7
52.9
52.1
57.4
79.4
101.4
120.2
134.4
136.0
113.8
84.4
4.1
28.8
.3
2.3
.3
3.0
4.3
3.9
2.6
3.6
3.5
3.2
2.3
2.1
2.4
4.2
2.7
122,957
65,879
9.72
9,429
4,591
10.20
9,770
4,994
10.20
9,988
5,398
10.20
9,341
5,093
10.20
10,528
5,871
10.20
10, 686
5,903
10.10
11,219
6.299
10.00
10,928
6,295
10.00
10, 598
5,687
10.10
10,259
5,323
10.50
9,732
4,854
10.90
9,818
4,837
11.30
69.4
1,106.0
4.2
65.1
4.9
78.0
6.8
79.7
4.5
70.6
7.4
96.4
8.0
103.0
6.9
113.5
5.9
98.2
4.9
49.0
5.0
41.9
6.0
60.7
6.0
61.4
5.4
55.2
7.3
79.1
8.4
86.8
9.5
94.7
9.4
95.0
7.4
64.1
5.3
"51.9
3.7
36.3
23.8
38.8
5.9
'57.4
1.5
3.1
5.5
78.6
9.3
74.9
5.0
59.1
6.0
60.7
7.1
84.4
6.1
49.8
1.1
4.2
6 6.8
8.7
10.0
.665
.680
.681
Distilling materials produced at wineries.-.do
DAIRY PRODUCTS
58
12.9
.680
.680
224.2
265.3
.705
15.1
213.6
1.258
426.7
351.5
30.7
1.400
1.410
9,404
9,764
4,517
11.60 pll.8
.711
.710
.713
.715
.725
.732
.747
335.8
334.4
288.3
327.6
303.8
260.8
248.5
5.2
5.0
464.7
333.9
130.8
4.3
3.2
1.0
2.12
2.10
2.14
2.11
2.26
2.29
2.18
2.27
2.48
2.44
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye, wheat)...mil. b u . . 2,813.6 2,586.1
207.2 249.6 6195.5
Barley:
3
Production (crop estimate)A
...do
372.5 3420.2
Stocks (domestic), end of period . .
do
271.2
328.0
328.0
On farms
do
153.7
217.8
217.8
Off farms
do
117.5
110.3
110.3
1.6
Exports, including malt §
do
52.1
72.8
2.4
4.0
Prices, wholesale (Minneapolis):
2.34
No. 2, malting
$ per bu
3.11
2.45
2.33
2.33
2.22
No. 3, straight
do....
3.06
2.64
2.32
2.32
Corn:
Production (crop estimate, grain only)Amil. bu. 36,266. 4 r36,425.5
Stocks (domestic), end of period, total
do
4,889.5 5,403.0
5,463.0
On farms
d o . . . . 3,345.5 3,788.8
3,788.8
Offfarms
d o . . . . 1,544.0 1,674.2
1,674.2
Exports, including meal and
flour
do
1,748.0 1,596.2
153. 5 6 127.1
143.3
Price, wholesale:
Weighted avg., selected markets, all grades
$perbu_.
2.56
2.22
2.23
2.08
2.23
Oats:
Production (crop estimate)A
mil. bu.- 3 546.3 3 750.
Stocks (domestic), end of period, total
do
412.5
563.0
563.0
On farms.
do
339.0
480.4
480.4
Offfarms
...do....
73.5
82.6
82.6
Exports, including oatmeal
.do
12.1
11.2
3.1
2.5
.5
Price, wholesale, No. 2, white (Minneapolis)
$perbu-.
1.74
1.34
1.34
1.34
1.32
r
Eevised.
p Preliminary.
1 Includes Hawaii, not available on a monthly basis;
monthly revisions for 1976 will be shown later.
2 Stocks as of June 1.
3 Crop estimate for
the year.
* Previous year's crop; new crop not reported until Oct. for corn and June for
barley and oats (beginning of new crop year).
« Beginning Jan. 1978, data for condensed
and evaporated milk are reported under the single heading "total milk and cream, con-
7 447.0
237.1
148.1
89.0
.5
2.30
2.27
2.29
2.27
24171.4
22 i*104.0
67.4
3.3
2.3
2.38
2.38
2.49
2.44
2.35
2.34
2.32
2.37
7,081.8
22,800.8
2
l,812.0
3,842.1
2,484.8
1,357.3
157.0
128.0
160. €
2.44
2.80
2.30
2.62
214.3
171.3
2.52
2.47
41,064.4
4
620.0
4 444.4
176.4
180.3
2.24
139.5
153.9
2.27
2.15
2.34
7 601.5
417.2
356.0
61.2
.6
4 256.1
1.8
1.1
I
5.4
657.6
542.7
114.
.3
1.7
1.47
1.44
1.37
1.38
1.44 !
1.36
1.25
1.27
1.34
1.42
1.33
densed and evaporated"; data for dry whole6 milk and nonfat dry milk are under the heading
"total dry milk, whole and nonfat."
See corresponding note for p. S-29.
<->rop
estimate for 1978.
§ Excludes pearl barley.
,
9 Scattered monthly revisions back to 1973 are available.
! Revised monthly data bacK
to 1973 are available.
A Revised crop estimates for 1970-74 are available.
OJb'
VEX
S-28
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
BUfcJJLNHJS
January' 1979
1978
1977
Nov.
Annual
1
(JUKI
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS-Con.
Rice:
Production (crop estimate) A
mil. bags 9 . . i 115.6
California mills:
Receipts, domestic, rough
mil. lb.. 2,220
Shipments from mills, milled rice. _
do
1,492
Stocks, rough and cleaned (cleaned basis), end
of period
mil. lb._
158
Southern States mills (Ark., La., Tenn., Tex.):
Receipts, rough, from producers.
mil. lb.. 9,563
Shipments from mills, milled rice
do
5,481
Stocks, domestic, rough and cleaned (cleaned
basis), end of period
mil. lb.. 2,682
Exports
do
4,640
Price, wholesale, No. 2, medium grain (Southwest Louisiana)
$ perlb..
.140
Rye:
Production (crop estimate) A.
mil. bu. Stocks (domestic), end of period.
..do
Price, wholesale, No. 2 (Minneapolis) __$ per bu_.
1
15.0
8.9
2.92
9
2,215
1,460
261
149
157
80
114
62
109
61
172
99
214
191
214
217
228
237
9,557
6,217
779
545
630
443
344
433
282
505
266
520
2,629
2,647
2,629
2,474
2,231
4,995
634
464
204
427
.152
.205
.215
.215
U7.3
9.0
2.39
2.55
9.0
2.55
2.67
Wheat:
Production (crop estimate), totalA
mil. bu.. i 2,142 i 2,036
Spring wheat A. _
do
1582 1o *499
Winter wheatAdo
1,537
11,560
Distribution, quarterly cf
do
1,820
1,748
Stocks (domestic), end of period, total
do
1,781.8 1,990.0
On farms
._
do
829.4
665.4
Off farms. _
do
1,116.4 1,160.7
Exports, total, including
flour
do
Wheat only
do
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
$perbu_.
No. 2, hd. and dk. hd. winter (Kans. City) do....
Weighted avg., selected markets, all grades
$ per bu_.
Wheat flour:
Production:
Flour..
thous. sacks (100 lb.)_.
Offal..
thous. sh. tons..
Grindings of wheat
thous. bu..
Stocks held by mills, end of period
thous. sacks (100 lb.)..
Exports
_
_
do
Prices, wholesale:
Spring, standard patent (Minneapolis)
$ per 1001b..
Winter, hard, 95% patent (Kans. City)..do___.
2.57
63
170
81
179
140
226
165
239
131
463
101
455
1,933
1,287
294
364
.215
.205
.190
5.9
2.95
3.02
3*4.0
3.23
55
72
109
240
58
79
72
229
237
185
277
253
109
434
110
385
1,005
500
3,062
599
1,708
654
884
620
952
684
842
2,184
2,604
2,496
347
325
545
467
371
.185
.175
.145
.145
.145
.148
2.39
2.19
25.2
2.37
2.32
2.48
2.52
2.96
2
408
!6.2
1,799
9 550
1,248
351
* 1,175.6
3*492.
1,524.9
638.8
886.1
990.0
829.4
160.7
137.8
103
61
2,110.6
1,006.3
1,104.3
1,001. 3
905.8
863.9
58.5
56.7
86.7
8 66.3
64.6
94.9
94.5
107.4
103.3
107.8
101.8
124.2
118.8
115.1
108.8
110.0
106.1
136.9
131.9
122.8
118.3
116.5
113.0
93.0
92.3
4.10
3.50
2.80
2.62
3.02
2.84
2.94
2.88
3.04
2.90
3.07
2.99
3.13
3.16
3.32
3.34
3.35
3.26
3.27
3.20
3.18
3.20
3.18
3.12
3.30
3.27
3.39
3.44
3.52
3.50
3.16
3.46
3.87
2.88
3.13
3.05
3.12
3.14
3.27
3.37
3.40
3.34
3.22
3.31
3.34
3.51
3.55
3.40
275,077
4,643
618,284
275,784
4,593
618,125
23,785
389
53,159
23,363
381
52,106
21,787
381
48,430
21,783
385
48,910
24,330
430
54,821
22, 554
385
50, 478
24,078
417
53,601
23,051
402
51,544
22,335
384
49,749
25,053
439
56,062
22,456
400
50,531
24,843
436
55,348
23,803
416
52,932
4,334
13,907
4,160
17,994
766
4,160
1,237
8 723
147
4,096
1,774
2,554
2,297
3,459
2,694
1,674
2,145
3,342
1,963
1,505
306
9.509
«8.303
7.160
6.246
7.338
6.575
7.200
6.488
7.588
7.325
6.675
7.650
6.963
8.638
8.250
7.463
8.100
7.225
8.250
7.600
7.938
7.575
7.825
7.550
7.900
7.600
8.400
7.925
8.138
7.788
4,438
38,992
4,696
38,717
3,244
387
3,200
3,238
3,243
304
2,969
3,215
271
3,052
261
3,046
304
3,247
275
3,027
287
3,180
274
3,029
267
2,834
39.11
37.65
45.18
40.38
38.74
48.19
41.83
38.79
40.98
43.13
39.71
40.50
43.62
42.85
40.50
45.02
46.89
43.75
48.66
51.39
47.60
52.52
53.81
69.45
57.28
59.85
77.26
55.38
57.42
73.28
54.59
58.67
75.72
52.40
58.22
81.66
54.26
60.23
83.25
54.93
62.06
81.82
53.82
60.75
78.60
55.54
64.19
78.00
70, 454
74,018
6,885
6,186
5,969
5,840
6,794
6,213
6,298
5,778
5,402
6,227
6,203
6,576
6,737
6,105
43.19
41.12
39.44
44.13
46.08
49.26
47.77
46.22
49.25
48.19
46.94
48.83
50.34
52.58
48.68
49.73
17.5
19.9
20.1
21.2
22.0
23.6
21.8
20.0
20.9
20.9
20.9
24.0
24.0
25.9
'23.1
23.2
6,474
6,133
477
441
425
390
487
430
451
406
438
435
457
413
396
47.84
53.38
50.00
58.50
64.00
67.50
69.38
62.75
71.00
59.50
60.00
59.25
62.50
60.00
59.50
64.00
39,060
5 733
1,305
7
1,868
39,172
567
1,315
1,741
3,416
565
109
87
3,241
567
124
212
3,214
560
8 109
138
3,044
574
101
155
3,341
660
115
183
3,079
748
108
202
3,268
761
108
181
5,078
721
3,272
582
119
137
3,138
598
131
182
3,353
641
124
184
3,343
711
119
200
3,092
167
2,882
642
93
161
26,480
5 464
82
1,467
25,780
327
93
1,377
2,148
301
8
71
2,108
327
10
171
2,140
327
8 30
103
2,009
331
35
118
2,133
370
27
141
1,960
385
32
161
2,118
400
30
147
2,007
385
32
133
1,897
344
28
123
2,146
325
35
107
2,018
342
42
151
2,150
358
31
141
2,083
394
32
165
1,941
.644
.662
.690
.715
.723
.747
.782
.846
.922
.897
.878
.840
.854
.859
.845
.884
361
15
341
10
27
25
23
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves.
thous. animals..
Cattle
do.
Prices, wholesale:
Beef steers (Omaha)
$ per 100 l b . .
Steers, stocker and feeder (Kansas City)..do
Calves, vealers (So. St. P a u l ) t - - do.
Hogs:
Slaughter (federally inspected)...thous. animals..
Prices:
Wholesale, average, all weights (Sioux City) ©
$ per 1001b.
Hog- corn price ratio (bu. of corn equal in value
to 100 lb. live hog)
Sheep and lambs:
Slaughter (federally inspected)..-thous. animals.
Price, wholesale, lambs, average (Omaha)
$ per 100 lb.
MEATS
Total meats (excluding lard):
Production, totalt--.mil. lb.
Stocks, cold storage, end of period O
do...
Exports (meat and meat preparations)
do...
Imports (meat and meat preparations)
do...
Beef and veal:
Production, totalt
do...
Stocks, cold storage, end of period O
..do...
Exports
do...
Imports
_.
do...
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 lbs.) (East Coast)
$ perlb.
Lamb and mutton:
Production, totalt
mil. lb.
Stocks, cold storage, end of period—
do...
r
Revised.
* Crop estimate for the year. 2 See "cf" note, this page. 3 Stocks as of
June 1.
* Previous year's crop; new crop not reported until June (beginning of new crop
year).
See " p " note, this page. • Average for 11 months (Jan.-June. Aug.-Dec).
7
Reflects revisions not available by months, s See note 6 for p. S-29. 9 Crop estimate
for 1978. 9 Bags of 100 lbs.
<? Data are quarterly except that beginning 1975, June figures
cover Apr., and May; Sept. covers June-Sept.
25
24
O Effective April 1977 SURVEY, data beginning Feb. 1976 are restated to exclude cooler meats ;
comparable earlier data will be shown later.
t See corresponding note, p. S-29.
© Effective July 1977 SURVEY, monthly prices are restated through May 1977 to coincide with
published annual averages which are for "all weights, excluding sows"; comparable monthly
data prior to May 1976 will be shown later.
A Revised crop estimates for 1971-1974
are available.
* Corrected.
SUEVEY OF CUREENT BUSINESS
January 1979
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
1977
Annual
S-29
Nov.
1978
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
MEATS—Continued
Pork (excluding lard):
Production, totalt
mil. lb
Stocks, cold storage, end of periodA..
-do
Exports
do
Imports
do_.
Prices, wholesale:
Hams, smoked composite
$ per lb__
Fresh loins, 8-14 lb. average (New York)..-do..
13,051
1,241
1,108
1,051
1,013
1,179
1,093
1,125
1,046
1,095
1,176
1,236
<318
209
28
12
186
25
34
174
«32
29
174
26
25
217
26
35
281
25
32
281
31
28
258
25
26
962
218
23
29
1,101
186
289
298
178
31
23
176
32
23
207
35
36
245
36
29
.855
.977
1.865
.952
.971
.901
1.013
1.029
.857
1.038
.932
1.066
.822
1.022
.759
1.001
.820
1.091
.808
1.129
.803
1.102
.887
1.067
.905
1.147
1.038
1.212
1.086
1.124
11,739
11,916
1,028
969
932
831
981
901
1,088
1,127
1,052
1,234
1,119
1,229
1,081
363
203
418
269
310
168
304
168
263
137
233
113
210
101
213
104
257
152
326
213
413
298
486
370
543
430
344
234
.240
310
168
.237
.210
.205
.230
.240
.240
.280
.265
.300
.330
.265
.270
.245
.245
179.2
179.3
15.4
16.1
15.9
14.1
15.7
15.3
15.7
15.0
15.1
15.2
15.0
15.7
15.6
28
26
39
30
50
31
39
30
50
28
41
26
37
23
36
23
30
22
30
27
29
28
55
29
42
29
23
28
30
26
.678
.624
.550
.615
.552
.628
.620
.570
.520
.493
.612
.618
.632
.608
.672
Cocoa (cacao) beans:
Imports (incl. shells)
thous. Ig. tons
Price, wholesale, Accra (New York)
$ per lb_.
235.4
1.092
172.1
2.144
4.7
2.500
5.5
2.500
19.4
2.500
20.3
2.500
27.9
2.500
20.5
2.500
16.5
2.500
12.4
2.500
16.1
2.500
14.7
2.500
7.3
2.500
35.6
2.500
18.6
2.500
Coffee (green):
Inventories (roasters', importers', dealers'), end
of period
...thous. bagscT..
Roastincs (ureen weight)
do
2,805
19,063
1,684
14,233
Imports, total
_.
From Brazil
Price, wholesale, Santos, No. 4 (N.Y.)_.$
Confectionerv manufacturers' sales
do
do
per lb_.
"mil $
19,788
3,092
21.228
2,912
14,808
2,453
972
3
1,557
1,345
1,249
1,316
319
329
206
337
56
57
308
1.540
306
334
3,059
1.350
314
1.540
305
1.530
1.460
mil. lb_.
371
420
'426
M25
'408
'425
'427
115
658
1,020
894
1,014
888
2,054 ' 2,324
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil. lb_.
Stocks, cold storage (frozen), end of period, total
mil. l b . .
Turkeys
.
do
Price, in Georgia producing area, live broilers
$perlb_.
Eggs:
Production on farms t
mil. casesO
Stocks, cold storage, end of period:
Shell
thous. cases©
Frozen
mil. lb
Price, wholesale, large (delivered; Chicago)
$per doz_.
12,219
3 212
311
1,128
1.078
1.097
.250
MISCELLANEOUS FOOD PRODUCTS
Fish:
Stocks, cold storage, end of period}:
Sugar (United States):
Deliveries and supply (raw basis):§
Production and receipts:
Production
thous sh ton*?
Deliveries, total
For domestic consumption
Stocks, raw and ref., end of period..
Exports, raw and refined
Imports:
Eaw sugar, total
From the Philippines
Refined sucrar total
115
279
275
252
291
271
207
211
193
174
426
420
384
339
336
319
324
'342
'364
1,337
1,901
1,689
5,053
1,067
997
602
374
280
130
189
135
48
958
957
836
832
766
764
775
772
930
927
891
888
4,352
4,352
4,104
3,850
3,451
3,326
1,033
1,029
3,059
905
901
3,009
864
861
2,729
35
1,122
1,109
2,264
sh. tons
69,735
20,335
494
1,376
6 4,312
881
970
802
682
613
841
747
1,019
1,020
1,077
4,331
5,130
1,136
656
418
141
562
48
7 277
189
49
447
53
67
28
300
63
330
56
607
16
335
54
550
131
400
114
327
66
20
469
()
«.135
.144
.150
.142
.145
.220
900
214
U18
8
.135
.109
.114
.114
.114
.114
.114
.114
.114
.114
.114
1.262
.190
1.118
.169
1.133
.191
1.045
.185
1.155
.187
1.174
.201
1.212
.193
1.270
.201
1.268
.200
1.189
.198
(9)
.191
thous. lb__
mil. lb
do.
do
do
mil. lb.
. . do
do...
P2,840
.205
.213
.223
.214
13,788
9,390
12,502
8,877
360.4
107.2
356.0
106.9
'381.5
T107.9
370.0
110.0
7,213
10,924
9,023
12,791
18,648
15,450
17,523
8,286
13,141
113.0
3,841.1
4,343.0 ••4,352.9
104.0
105.4
109.6
347.9
386.2
101.5
113.0
342.1
138.8
312.4
125.2
305.1
112.1
368.2
128.4
328.0
141.1
335.5
126.1
302.2
124.2
293.0
436.8
105.4
391.1
127.7
378.1
118.3
459.0
112.7
435.0
133.8
413.1
128.1
406.8
123.7
368.8
130.8
410.6
132.9
389.2 ' 407.1
121.6
106.8
401.2
120.4
2,629.7
67.2
2,535.0
79.9
229.0
70.0
244.7
79.9
219.8
61.8
224.6
70.3
243.0
59.3
186.8
72.3
183.7
63.4
194.6
68.8
166.0
67.8
200.6
60.3
207.6
66.0
222.2
'68.9
220.6
59.0
.443
.507
.513
.500
.500
.500
.514
.552
.552
.552
.552
.525
.522
.521
.533
535.5
660.5
47.5
'709.4
787.9
42.4
65.2
67.8
33.7
68.9
68.6
42.4
64.0
66.6
48.7
60.8
67.0
49.1
74.1
82.8
40.6
60.8
74.8
38.3
70.0
71.4
38.8
65.5
63.7
45.4
61.7
62.0
45.1
70.3
70.6
46.3
68.8
74.8
41.8
'79.3
77.3
'44.4
78.9
72.1
45.0
181,304
* 203,012
127.7
3,913.4
Tallow and grease (except wool), inedible:
521.7
509.9
483.2
Production (quantities rendered)%
do... 5,674.6 6,106.4
257.8
3,367.2 3,180.5 259.4
254.8
Consumption in end products!
..
do
347.2
354.8
347.2
324.9
352.0
Stocks, end of period^t
do.-_
r
Revised. * Preliminary. * Average for July-Dec: beginning July 1977, prices represent
Midwest and Los Angeles and are not comparable with those 4for earlier periods. 2 Average for 2 mos. (May and Sept.).
3 See " A " note, this page.
Reflects revisions not dis5
tributed to the months.
Beginning
Aug. 1978, prices are estimated; not strictly compar6
able with those for earlier periods.
Because of an overall revision to the export commodity
classification system effective
Jan. 1, 1978, data may not be strictly comparable with those
7
for earlier periods.
Beginning Jan. 1978, data are
for both raw and refined sugar and are
8
not comparable with those for earlier
periods.
Beginning Jan. 1978, data are no longer
9
available; see note 7, this page.
Beginning July 1978, data no longer available.
1,124
11,245
11,210
4,352
Margarine:
Production
do
Stocks, end of period©
do
Price, wholesale (colored; mfr. to wholesaler or
large retailer; delivered).. _
.
$perlb.
Animal and fish fats:
Tallow, edible:
Production (quantities rendered)
Consumption in end products
Stocks, end of periodH
129
5,748
FATS, OILS, AND RELATED PRODUCTS
Salad or cooking oils:
Production \
Stocks, end of period©
1,575
209
2,133
3,767
10,924
10,856
3,341
Prices (New York):
Raw, wholesale
$ per lb
Refined:
Retail (incl. N.E. New Jersey)..._$ per 5 l b . .
Wholesale (excl. excise tax)
$ per lb_.
Baking or frying fats (incl. shortening):
Productiont
Stocks, end of period©.-.
1,682
108
2,202
3,554
do
do
do
thous. sh. tons..
do
do
Tea, imports._.
1,347
2,161
4,467
1,707
1,684
3,878
2.500
.528
500.1
442.5
500.2
464.2
464.9
491.8
537.4
463.3
474.1 ' 505.9
296.3
242.5
270.8
261.9
294.4
263.1
281.7
273.6
250.3 '286.0
352.3
292.7
309.6
346.3
349.0
289.3
289.2
394.0 ' 304.2
346.1
©Cases of 30 dozen.
d*Bags of 132.276 lb.
§Monthly data reflect cumulative revisions
for prior periods.
©Producers' and warehouse stocks.
1T Factory and warehouse
stocks.
t Monthly revisions back to 1974 are available.
AEffective April 1977 SURVEY,
data beginning Feb. 1976 are restated to exclude cooler pork; comparable earlier data will
be shown later.
f Revised series. Beginning May 1977 SURVEY, data represent total commercial slaughter (excluding rendered pork fat and lard), whereas the price for calves
(p. S-28), represents a different market. Comparable data prior to Mar. 1976 will be shown
later.
CUJ:tKUJN T ElJ1S1JNJ
S-30
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1977
1976
January 1979
1978
1977
Nov.
Annual
Feb.
Jan.
Dec.
Apr.
Mar.
July
June
May
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 products
Stocks, refined, end of period U
Imports
mil. lb
849.2
990.3
...do....
40.1
. do .
do
1,206.9
Corn oil:
Production: Crude
Refined . _
Consumption in end products
..
Stocks, crude and ref., end of period If.
do
do
do
do
692.4
562.2
517.0
42.1
Cottonseed oil:
Production* Crude
Refined X Consumption in end products
do
do
do
984.3
819.8
578.8
._
Stocks, crude and ref., end of period Ut do
do
Exports (crude and refined) .
Price, wholesale (N.Y.)
$ per l b . .
Soybean oil:
Production* Crude
Refinedt
Consumption in end products
"mil. lb
do
do.
191.6
520.9
.297
r
729.4
878.7
39.9
994.3
61.0
77.4
30.7
75.1
55.1
65.0
39.9
94.5
58.1
69.3
36.6
65.5
56.8
71.0
35.9
127.1
73.0
81.5
46.0
102.9
70.4
88.9
48.2
72.4
68.1
87.6
41.2
98.3
69.0
76.1
40.7
79.9
65.3
73.6
38.7
104.5
70.3
79.0
39.0
83.7
61 3
72.4
43.0
47.0
69.6
••84.0
40.6
80.4
59.7
75.2
39.7
100.7
671.9
577.0
537.6
33.4
58.0
48.6
47.5
48.3
50.1
49.0
50.6
33.4
54.9
47.6
44.7
26.7
51.6
43.2
43.2
31.9
58.7
51.1
48.7
33.4
57.1
44.4
37.5
41.2
68.0
53.3
41.2
52.3
64.7
48.1
44.9
62.9
60.5
41.4
37.7
69.3
59.7
55.1
47.3
71.0
63.8
52.7
50.9
72.6
•"65.4
••54.4
50.8
••70.1
60.0
46.3
43.8
76.8
122.1
109.2
113.9
107.8
141.8
136.6 r 122. 5 ' 109.9 ' 114.1 r 110. 0
55.7
63.4
65.9
62.3
55.6
103.5
117.5
60.0
82.0
84.7
57.3
108.8
'83.7
55.6
134.2
114.4
64.6
114.3
70.2
.340
102.3
50.0
.355
84.8 * 101. 4
25.9
82.3
.405
.340
123.0
29.2
.328
777.9
649. 2
596.2
815.8
725.3
699.8
783.3
984.3
679.9 r 782. 8
672.5 ' 715.9
974.8
746.4
709.0
825.6
165.5
.320
777.5
108.8
.316
728.6 r 813. 4
193.4
96.8
.330
.329
829.4
154.8
.293
1,254.6
140.2
146.3
1,188.8 ' 133.0 '134.6
58.5
625.3
52.6
r
142.3
731.2
.299
9,639.6 r 8,836.5
7,185.4 7,789.5
7,576.6 r 7,451. 1
Stocks, crude and ref., end of period Ht do
1,488.1
_ do
Exports (crude and refined) .
1,088.4
Price, wholesale (refined; N.Y.)
$ per l b . .
.244
' 864.0
1,666.9
.289
r
119.7 r 142. 3
67.2
64.2
.300
.270
r
r
931.5
922.3
764.2 ' 745.0
721.9
682.3
r
r
r
141.6
129.5
132.4 r 117. 0
50.0
52.3
162. 3
50.6
.295
911.9
719.2
664.1
771.1 r 864.0 r 918.8
175.3 7 113.1
185.5
.285
.265
.260
r
r
r
167.0
68.2
.288
809.5
665.9
648.8
861.2
141.8
.265
r
r
r
r
188.4
84.9
.315
r
193. 4 ' 165.4
61.6
59.8
.315
.335
r
139.7
63.5
.333
908.2
795.1
866.9
943.3
816.9 r 752.3 r 746.3 ' 662. 5
686.5
662.4
640.5
771.7
808.3
252.6
.320
r
826.9 ' 833.8
218.9
176.4
.319
.336
T
839. 3
147.2
.315
r
r
r
r
.330
.305
TOBACCO
Leaf:
1
Production (crop estimate)
mil lb
2 136 1 1,912
8 2 016
Stocks, dealers' and manufacturers', end of period
4,453
5,070
4,811
4 635
mil lb
4 978
5 070
Exports, incl. scrap and stems .
thous. lb 577,997 * 628,564 49,515 102,364 52,539 55,604 73,157 40,904 32, 316 29,178 42,661 52,266 41, 319 85, 785 95,786
rln
310,393 316,236 25,072 23,716 25,925 26,973 27,773 29,161 31,446 29,661 35,184 28,032 26,755 32,049 21,474
Imports, incl. scrap and stems
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large) taxable
Exports, cigarettes
DI ill inns
do
do
do
72 126
617,892
4 041
61,370
78,133
592,006
3,776
66,835
5,952
51,358
6,734
42,886
5,399
48,436
6,769
49,326
7,362
55,317
341
284
280
271
3,716
6,151
329
4,177
7,341
6,580
6,973
50,268
6,981
54,390
282
319
5,361
6,050
7,971
58,267
5,925
44,397
9,141
54,308
8,002
50,321
345
298
322
346
6,616
235
5,523
7,205
7,823
6,328
6,846
7,634
53,376
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value, total9
thous. $.. 552,276
Calf and kip skins
...thous. skins.. 2 2,162
Cattle hides
thous. hides.. 25,270
Imports:
Value, total?
Sheep and lamb skins
Goat and kid skins
.thous. $..
thous. pieces..
do
Prices, wholesale, f.o.b. shipping point:
Calfskins, packer, heavy, 9H/15 l b .
Hides, steor, heavy, native, over 53 lb
$ per l b . .
do
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
Exports:
Upper and lining leather
582,906
2,508
24,488
38,207
196
1,572
52,871
336
2,235
45,523
211
1,893
47,562
160
2,021
58,535
288
2,270
61,297
265
2,375
55, 370
194
2,122
55,846
199
2,078
47,511
222
1,725
58,797
189
2,176
54,396
339
1,779
60,090
181
1,922
58,503
177
1,754
89,100
16,603
1,255
96, 600
15,468
1,137
3,500
155
8,100
1,288
6,700
841
116
10, 200
1,850
227
10,800
2,080
143
12,200
2,541
275
11,400
2,245
128
8,800
1,577
45
8,300
1,848
190
7,800
1,323
75
7,600
1,093
117
7,700
920
112
935
175
3.755
*.914
.370
.750
.800
.380
.900
.900
.378
1.000
.373
1.100
.413
1.100
.418
1.100
.458
1.200
.478
1.850
.530
1.850
.590
1.850
.573
1.650
.548
18,240 717,364
15,309
16,408
16,720
18,899
21,427
14,160
19,726
16,224
17,438
17,947
210.0
227.2
241.6
270.4
261.7
270.4
33,235
CO
(9)
thous. sq. ft.. 203,707
Prices, wholesale, f.o.b. tannery:
Sole, bends, light
index, 1967=100..
Upper, chrome calf, B and C grades
index, 1967=100..
1.650
.518
2206,276 14,980
5 197.9
« 205.8
Footwear:
Production, total
thous. pairs.. 422,507
Shoes, sandals, and play shoes, except athletic
thous. pairs.. 345,433
64,880
Slippers
do
Athletic
. . . . d o . . . . 10,064
2,130
Other footwear
...do
309,770
65,961
12,642
2,748
6,023
5,411
179.1
193.3
163.8
143.4
171.8
144.9
201.3
201.3
210.0
212.8
208.5
207.1
31,172
32,395
32,572
37,271
36,173
36,761
34,221
24,481
34,445
31,629
26,153
6,212
886
247
25,605
4,371
929
267
26,955
4,204
978
258
26,498
4,698
1,020
356
29,895
5,520
1,479
377
27,870
6,010
1,568
725
28,871
5,991
1,578
321
26,516
5,830
1,474
401
19,987
3,248
947
299
26,827
5,857
1,362
24,116 24,849
r 5,799
6,469
' 1,334 1,492
425
453
395
378
585
495
448
514
454
605
467
546
197.9
197.9
200.8
206.8
206.8
211.4
211. 4
211.4
211.4
213.8
218.6
221.0
173.3
146.8
173.3
146.8
176.9
146.8
176.9
146.8
176.9
146.8
181.7
157.4
182.9
161.3
182.9
161.3
182.9
161.3
182.9
161.3
187.7
161.3
197.3
170.9
306.6
LEATHER MANUFACTURES
Exports
do
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
391,121
r
!
2
Revised.
Crop estimate
for the year.
Annual total reflects revisions
not distrib3
4
uted to the monthly data.
Average for Jan., Feb., and
Apr.-Dec.
Average 7for Jan.6
Sept., Nov. and Dec.
« Average for Jan.-Nov.
Average for Feb.-Dec.
Because
of an overall revision to the export commodity classification system effective Jan. 1,1978, data
612
197.3
197.3
8
may not be strictly comparable with those for earlier periods.
Crop estimate for 1978.
Data no longer available.
9 Includes data for items not shown separately.
IF Factory and warehouse stocks.
$ Monthly data back to Jan. 1977 are available.
9
January 1979
t OJb1 (JUJHtKENT
su
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
.BlJJ31JNJ
S-31
1977
1977
Nov.
Annual
1978
Dec.
Jan.
Mar.
Feb.
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._ 136,472
6,442
Hardwoods
do
Softwoods
do
30,030
137,235
6,185
31,050
2,839
487
2,352
2,944
456
2,488
2,843
442
2,401
2,904
430
2,474
3,222
497
2,725
3,127
571
2,556
3,203
546
2,657
574
2,759
2,988
597
2,391
3,263
591
2,672
3,285
580
2,705
3,333
629
2,704
Shipments, total
Hardwoods
Softwoods
do
do
do
136,328
6,426
29,902
137,521
6,297
31,224
2,859
496
2,363
2,983
455
2,528
426
2,273
2,741
456
2,285
3,158
511
2,647
3,133
574
2,559
3,355
583
2,772
3,548
600
2,948
3,156
574
2,582
3,357
567
2,790
3,250
577
2,673
3,262
601
2,661
Stocks (gross), mill, end of period, total
Hardwoods.
Softwoods
do
do
do
5,111
891
4,220
'4,862
'780
'4,082
4,855
765
4,090
4,818
770
4,048
4,963
787
4,176
5,128
763
4,365
5,201
749
4,452
5,190
752
4,438
5,038
715
4,323
4,877
687
4,190
4,705
706
3,999
4,632
732
3,900
4,669
737
3,932
4,740
765
3,975
Exports, total sawmill products
do
1,670
10,698
108
956
142
911
94
840
110
do
1,909
8,178
72
Imports, total sawmill products
125
915
212
1,173
118
1,117
1,194
1,119
94
1,014
96
1,091
8,377
634
8,712
565
661
513
816
565
738
607
846
649
757
679
807
706
8,796
8,781
637
643
958
770
764
769
696
1,037
812
783
1,143
745
727
1,161
745
780
1,126
833
614
816
925
1,017
705
597
8,322
8,293
949
712
586
810
733
1,114
634
548
672
717
602
180
422
488
129
359
28
6
22
28
5
23
39
9
29
52
17
37
10
27
52
16
36
50
19
31
47
4
44
191.24
230.38
218.03
227. 70 238.08
241.81
246.28
238.48
238.43
mil. bd. ft..
do.
i 7,467
443
i 8,317
470
667
466
637
470
624
500
591
495
790
552
767
563
696
552
668
544
561
671
541
738
542
Production
do.
Shipments
do.
Stocks (gross), mill and concentration yards, end
of period..
mil. bd. ft..
i 7,575
i 7,477
i 8,224
i 8,290
629
635
621
633
594
622
596
728
733
730
756
761
588
735
736
728
732
676
733
752
691
737
737
1,174
1,170
1,163
1,144
1,141
1,141
12, 506 15,495
8,991
10,324 12,161
10,467
SOFTWOODS
Douglas fir:
Orders, new
Orders, unfilled, end of period
Production
Shipments
Stocks (gross), mill, end of period
mil. bd. ft_.
do
do
do
do
Exports, total sawmill products
Sawed timber..
Boards, planks, scantlings, etc
do
do.
do.
Price, producer:
Dimension, construction, dried, 2" x 4", R. L.
$perM bd. ft..
Southern pine:
Orders, new.
Orders, unfilled, end of period
'742
'612
526
738
717
907
'790
'740
'957
707
718
946
35
11
24
31
245.28 245.00 272.06 274.74
266.66
271.51
262.40
1,232
1,166
1,178
1,166
1,180
1,206
1,210
1,175
M bd. ft.. 140,386
157,806
10,223
9,005
14,712
9,784
14,492
14,920
207.5
271.0
290.6
294.3
299.7
305.5
313.6
321.5
329.7
331.5
333.6
337.7
343.4
346.4
347.1
347.8
233.6
250.2
262.4
264.6
267.9
269.9
272.4
271.2
274.4
274.4
276.6
280.6
282.1
283.8
284.3
285.4
mil. bd. ft..
do
9,760
554
696
567
752
618
850
874
526
854
544
889
506
980
545
908
545
714
462
821
832
744
719
759
701
871
832
739
596
790
779
877
546
9,789
9,744
811
557
813
817
865
590
..do..
do..
do.
10,331
590
10,309
10,295
865
927
843
894
901
927
927
941
897
836
776
797
1,315
1,329
1,340
1,329
1,354
1,412
1,451
1,462
1,400
1,299
1,273
1,259
1,248
184.31
231.53
215.40
226-17
247.58
263.85
264.90
267.57
240.07
114.5
4.2
112.8
7.9
9.R
6.8
8.1
8.9
8.6
9.1
10.8
10.4
9.5
10.7
9.3
11.6
9.3
10.2
8.5
11.4
10.5
11.4
7.9
10.6
104.5
109.3
8.9
109.8
110.0
6.2
7.9
8.8
5.3
8.0
8.5
4.8
9.4
5.4
9.0
9.2
5.2
8.8
8.5
5.4
9.1
10.1
4.0
7.2
7.4
3.7
9.9
10.4
3.1
8.7
8.7
3.2
8.9
9.4
2.7
9.4
8.7
3.4
205
695
255
821
1
271
786
1
174
756
5
208
777
7
174
834
1
218
977
11
194
973
2,175
45
35
1,511
127
38
1,360
55
1,785
77
42
1,870
71
78
1,584
70
1,715
51
41
2,016
67
75
4,477
4,265
8,488
8,779
4,581
4,851
8,938
8,738
4,605
4,509
8,579
8,747
4,070
4,144
7,659
8,865
4,565
4,426
8,279
9,018
•4,426
' 4,186
•8,338
P4,703
P4, 419
P8, 919
Exports, total sawmill products
Prices, producer (indexes):
Boards, No. 2 and better, 1" x 6", R. L.
1967=100.
Flooring, C and better, F. G., 1" x 4", S. L.
1967=100..
Western pine:
Orders, new
Orders, unfilled, end of period
619
722
914
779
610
Production
Shipments
Stocks (gross), mill, end of period
Price, producer, Ponderosa, boards, No. 3, l"x 12",
R. L. (6' and over)
$ per M bd. ft..
1,227
251.25 232.33 236.92 254. 23 267.17
317.01
HARDWOOD FLOORING
Oak:
Orders, new
mil. bd. ft._
Orders, unfilled, end of period
do.
Production
_
-do..
Shipments
_
_
do..
Stocks (gross), mill, end of period.
do..
9.1
7.3
6.2
8.3
11.0
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous. sh. tons..
Scrap
do
Pig iron
do
2,654
8,120
57
2,003
6,175
51
148
462
2
149
475
1
160
642
1
208
444
1
14,285
507
415
19,307
625
373
48
2,087
50
53
1,538
53
44
2,220
46
7
thous. sh. tons.. 150,035 i 49,523
i 41,144 i 47,873
do
i 89,914 192,090
do
i 9,988
» 9,360
_
do
3,962
3,709
7,430
9,412
3,729
7,368
9,360
3,824
3,679
7,541
8,923
3,714
3,868
7,374
8,797
Imports:
Steel mill products
Scrapt
Pigironf
do.
do.
do.
191
628
5
Iron and Steel Scraps
Production
Receipts, net
Consumption
Stocks, end of period
Prices, steel scrap, No. 1 heavy melting:
66.04
73.62
2 55.99
56.34
47.17
Composite (5 markets).
$perlg. ton..
73.00
61.50
79.10
80.35
51.00
Pittsburgh district
do
r
Revised.
v Preliminary.
i Annual data: monthly revisions are not available.
2
Effective with Feb. 1977, composite reflects substitution of Los Angeles for San Francisco;
effective
July 1977, it reflects addition
of Detroit and Houston. Avg. for 1977 is for July-Dec.
3
4
Less than 500 short tons.
Data not available.
9 Totals include data for types of
4,730
4,396
8,347
9,017
t>S, 551
71.67
72.81
75.40
71.38
76.00
71.90 75.42 71.46
68.94
75.50
83.50
88.50
78.50
75.50
82.50
77.00 80.50 75.50 75.00
74.50
lumber not shown separately.
t Effective Aug. 1976 SURVEY, scrap excludes imports of
rerolling rails and pig iron excludes sponge iron imports previously included.
II Effective
with 1974 annual and Jan. 1975figures,data reflect expanded sample and exclusion of directreduced (prereduced) iron, previously included in scrap series.
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
1978
1977
Nov.
Annual
January 1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
METALS AND MANUFACTURES—Continued
IRON A N D STEEL—Continued
Ore
Iron ore (operations In all U.S. districts):
Mine production
thous. lg. tons.. 79,200
77,210
Shipments from mines
do
Imports
d o — 40,967
U.S. and foreign ores and ore agglomerates:
117,697
Receipts at iron and steel plants
do
114,324
Consumption at iron and steel plants
do
2,91:5
Exports
do
55,750
54,053
37,905
1,450
1,740
4,207
3,843
4,051
3,145
5,104
3,871
0
4,820
2,475
1,316
6,425
2,489
1,643
6,034
5,299
1,291
7,751
8,558
2,102
7,988
8,754
2,182
7,559
9,757
3,686
7,593
9,779
4,488
7,314
8,707
4,534
7,032
8,088
4,015
94,944
108,462
2,143
6,387
8,185
18
7,697
8,469
111
4,408
8,735
87
4,185
8,321
2
4,639
9,048
2
6.363
9,379
390
10,907
10,114
393
11,448
10,216
403
11,787
9,940
143
14,658
10,137
348
12,291
9,797
520
12,285
10,323
317
11,524
9,954
733
75,035
14,02(i
56,24(»
4,76:?
59,390
14,140
42,271
2,979
60,745
14,373
43,354
3,018
59,390
14,140
42,271
2,979
56,342
15,358
37,915
54,092
17,702
33,701
2,689
53,084
21,687
29,195
2,202
50,360 49,862 51,887
22,411 21,598 20,968
28,127
26,199
1,750 1,361 22,792
51,561
18,772
29,939
2,850
53,791
16,461
34,349
2,981
54,681
15,165
36,738
2,778
55,500
14,104
38,585
2,811
40,049
3,401
1,053
834
21
64
94
50
113
49
71
55
82
42
97
62
64
6,121
6,228
1,356
6,419
6,498
1,309
6,390
6,452
1,271
5,971
6,061
1,200
6,894
7,013
1,108
7,189
7,316
1,916
7,936
7,969
997
7,754
7,770
1,014
7,637
7,611
1,068
7,518
7,527
1,080
7,391
7,463
1,047
191.00
191.00
191.00
191.00
191.00
191.00
191.00
191.00
191.00
203.00
203.00
203.00
854
1,270
615
935
1,102
553
1,090
543
990
1,161
596
1,009
1,327
646
1,969
1,301
663
976
1,423
737
984
1,406
734
946
1,148
587
1,000
1,330
711
'963
1,279
673
904
.,398
708
125,333
78.4
9,748
75.0
10,031
74.7
10,301
77.2
9,643
80.1
11,083
83.1
11,528
88.5
12,320
91.5
11,861
91.1
11,388
85.1
11,550
86.3
11,467
88.6
12,105
89.8
451
1,718
1,488
431
139
122
451
132
116
494
152
135
461
141
124
502
158
138
512
153
133
492
168
145
501
162
140
592
124
108
634
156
134
'668
r 159
'139
712
173
153
91,147
7,188
7,020
7,323
7,539
8,718
8,055
8,610
8,787
7,608
8,293
6,252
8,599
7,813
i 3,991
4,382
7,529
1,863
321
355
613
140
311
380
636
140
352
376
649
136
344
354
596
132
425
421
738
157
434
413
714
146
491
460
767
155
467
444
772
141
S93
393
694
111
457
426
697
123
491
419
688
140
463
422
701
156
423
424
690
145
15,420
9,362
4,179
1,794
1,253
786
314
146
1,239
731
371
130
1,221
769
284
161
1,236
754
307
1,438
854
384
191
1,423
827
412
177
1,509
884
437
180
1,524
904
430
182
1,272
661
359
149
1,463
845
436
174
1,465
877
407
173
1,531
916
422
185
1,370
796
411
155
7,490
2,400
6,382
41,687
14,558
17,684
174
400
3,292
1,099
1,417
672
165
431
3,046
1,103
1,201
192
461
3,300
1,127
1,382
708
198
645
3,326
1,190
1,373
804
235
566
737
231
449
3,509
1,207
1,445
779
228
502
3,719
1,297
1,527
737
235
549
3,918
1,349
1,629
643
175
472
3,455
1,176
1,430'
211
498
3,720
1,316
1,512
204
536
3,630
1,288
1,473
699
219
487
3,921
1,391
1,588
652
199
410
3,499
1,292
1,398
Stocks, total, end of period
At mines
At furnace yards
At U.S. docks
do
-do
do
do—
Manganese (mn. content), general imports...do—
Pig Iron and Iron Products
Pig iron:
81,328
86,870
Production (excluding production of ferroalloys)
82,017
thous. sh. tons.. 86,92«;
1,309
1,513
Consumption.
_
do
Stocks, end of period
do—
5183.11
3182.33
Price, basic furnace
$ per sh. ton..
Castings, gray and ductile 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
832
14,168
6,850
935
15,318
7,496
56
848
491
65
829
458
7,809
7,533
7,887 P 7 , 5 9 3
967
203.00
203. 00
Steel, Raw and Semifinished
Steel (raw):
Production...
thous. sh. tons.. 128,000
80.9
Rate of capability utilization*
percent..
Steel castings:
Orders, unfilled, for sale, end of period
431
thous. sh. tons..
1,804
Shipments, total
-do
1,513
For sale, total
do
11,654
89.4
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous. sh. tons.. i 89,447
Byproduct:
4,384
Semifinished products
do
4,187
Structural shapes (heavy), steel piling., .do
7,160
Plates..
do
2,017
Rails and accessories
do
114, 234
Bars and tool steel, total
.do.
» 8,664
Bars: Hot rolled (incl. light shapes)
do..
»3,876
Reinforcing..
do..
1,618
Cold finished
_
do..
Pipe and tubing
do.
Wire and wire products
do..
Tin mill products
do.
Sheets and strip (incl. electrical), total_..do..
Sheets: Hot rolled
do.
Cold rolled
-do.
6,265
2,461
6,436
42,303
15,090
18,265
By market (quarterly shipments):
< 14,615 < 15,346
3,746
Service centers and distributors©
do.
• 7,508 *7,553
1,769
Construction, incl. maintenance©
do.
4,502
4,500
1,051
Contractors' products.
do.
21,351
21,490
4,996
Automotive..
__
do.
3,056
3,238
775
Rail transportation
do
5,180
5,566
1,428
Machinery, industrial equip., tools
do
6,914
6,714
1,296
Containers, packaging, ship, materials_. .do
< 26,371 4 26,740
6,519
Other©..
do.
Steel mill shapes and forms, inventories, end of
period—total for the specified sectors:
mil. sh. tons..
33.9
36.4
34.1
34.1
34.1
Producing mills, inventory, end of period:
Steel in process..
.mil. sh. tons..
12.2
10.1
10.2
10.1
10.0
Finished steel.
do....
7.5
7.3
7.6
7.6
7.8
Service centers (warehouses), inventory, end of
period
mil. sh. tons..
6.5
6.5
6.6
6.4
Consumers (manufacturers only):
Inventory, end cf period
do..
10.2
9.9
Receipts during period
do
62.6
63.4
4.9
5.1
4.6
Consumption during period.
do.
62.9
63.9
5.0
4.7
5.0
r
Revised.
v Preliminary.
1 Annual data; monthly or quarterly revisions are not
available.
3 For month shown.
3 Avg. for 8 months: price not available for July-Oct.
1976.
« See note " © " for this page.
« Avg. for 11 months; Feb. price not available.
New series. Source: American Iron and Steel Institute. The production rate of capability utilization is based on tonnage capability to produce raw steel for a full order book
3,933
1,406
1,644
4,159 21,464 2 1,352
2 784
2 816
2,432
2 280
2 329
934
2
1,810
5,365 2 2,027
22 339
2 326
864
484
2 527
1,497
2 458
1,615 2 2 525
2, 584 2 2,305
7,287
4,709
2,497
926
5,257
856
1,577
1,652
7,977
4,179
2,079
939
5,117
1,477
1,790
7,179
32.6
32.5
33.7
33.6
'34.9
'35.1
35.1
9.4
7.4
9.1
6.8
9.2
7.0
9.5
7.3
9.7
7.0
10.6
7.1
10.6
7.2
10.7
7.3
6.4
6.7
6.6
7.1
7.1
7.1
7.1
10.9
7.4
10.0
10.0
'10.1 '10.2
9.8
10.0
9.7
9.8
9.9
6.0
5.4
'5.0
6.1
'5.8
5.2
5.9
5.7
6.2
G.O
5.6
4.7
6.1
'5.7
5.2
6.0
6.1
5.8
based on the current availability of raw materials, fuels and supplies, and of the industry s
coke, iron, steelmaking, rolling and finishing facilities. Data prior to 1975 are not available.
©Beginning Jan. 1976, data are not comparable with those for earlier periods since oil &
gas supply houses and pipelines, which were formerly shown in "Service centers and distributors" and "Construction, incl. maintenance," respectively, are now included in "Other.
SURVEY OF CURRENT BUSINESS
January 1979
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
S-33
1977
Annual
Nov.
1978
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):
Metal and alloys, crude
Plates, sheets, bars, etc.
Exports:
Metal and alloys, crude
Plates, sheets, bars, etc...
4,251
1,346
4,539
1,367
380
113
395
106
400
110
366
104
395
117
387
114
405
114
395
118
408
107
410
125
122
127
do
.do
568.7
87.1
673.3
73.8
54.5
5.1
57.5
7.1
30.0
1.5
36.0
2.8
46.1
3.1
29.5
2.4
37.7
2.4
41.2
2.1
30.8
4.8
27.8
5.2
17.8
2.2
44.7
2.4
23.2
2.8
do
do
152.4
222.1
97.8
207.9
8.9
11.6
7.2
22.8
3.7
13.0
5.7
19.6
6.1
19.0
4.2
14.8
7.0
19.5
9.3
17.3
8.5
15.1
11.0
14.5
15.9
19.5
= 17.7
13.8
23.1
15.4
.5132
.5300
.5300
.5300
.5300
.5300
.5300
.5300
.5300
.5300
.5300
.5300
.5300
.5300
13,199
10,420
6,041
2,009
1,001
830
475
175
1,146
818
496
155
995
852
476
158
1,071
889
504
171
1,265
986
552
184
1,118
528
164
1,233
988
565
172
1,261
995
556
171
1,092
878
509
126
1,251
1,008
562
•"165
1,171
••936
'535
'165
1,332
980
552
185
5,725
5,685
5,811
5,802
5,732
5,751
5,697
5,666
5,705
5,588
" 5,612
5,579
124. 5
125.2
118.9
6.3
26.0
124.6
120.2
112.7
7.5
28.0
125.4
116.3
108.7
7.6
29.0
122.5
116.0
99.8
16.2
31.0
133.5
134.6
124.4
10.2
41.0
129.3
119.8
113.7
6.1
41.0
133.7
129.6
119.3
10.3
41.0
128.0
128.4
121.4
7.0
44.0
97.8
104.8
95.9
8.9
30.0
125.1
133.6
126.9
6.7
36.0
123.2
123.4
117.4
6.0
130.5
136.4
128.5
7.9
63.8
53.4
46.5
39.2
38.6
28.7
28.4
17.6
34.5
27.7
24.8
12.3
26.5
10.1
23.3
7.2
31.6
10.2
41.2
22.2
20.8
5.3
34.4
5.3
Price, primary ingot, 99.5% minimum..$ per lb._
.4449
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)..._
mil. lb._ 12,568
9,716
Mill products, total.
do
5,584
Sheet and plate
do
1,845
Castings. _.
...do
Inventories, total (ingct, mill products, and
5,685
5,631
scrap), end of period
.mil. lb..
Copper:
Production:
Mine, recoverable copper
thous. sh. tons.. 11,605.6 1,518.0
Refinery, primary..
do... 11,539.3 1,496.2
1,411.0
11,422.7
From domestic ores
do
1
85.2
116. 6
From foreign ores
do
364.0
353.0
Secondary, recovered as refined
do
Imports (general):
Refined, unrefined, scrap (copper cont.)...do.
Refined
do.
Exports:
Refined and scrap
do.
Refined
do.
Consumption, refined (by mills, etc.)
do
Stocks, refined, end of period...
do
Fabricators'
..do...
Price, electrolytic (wirebars), dom., delivered
$ perlb..
Copper-base mill and foundry products, shipments
(quarterly total):
Brass mill products
mil. lb.
Copper wire mill products (copper cont.)-.-do_._
Brass and bronze foundry products
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...
547.4
384.1
528.1
394.0
43.8
28.6
71.3
55.8
64.0
47.4
55.5
45.9
69.3
58.2
94.5
77.9
250.0
113.1
220.3
52.7
14.7
5.0
22.8
6.9
17.1
4.7
19.1
4.9
24.2
11.9
20.4
7.3
62.6
47.8
28.1
11.4
1,995
651
177
2,202
649
178
614
152
649
178
658
164
647
151
566
620
144
648
162
637
163
635
642
156
595
144
236
135
621
225
130
.6956
.6677
.6062
.6194
.6362
.6359
.6241
.6462
.6477
.6657
.6408
.6723
.6763
.7050
2,517
2,383
547
2,668
2,667
1609.5
682.5
i 589.2
734.4
48.7
60.3
51.1
61.2
49.8
54.7
45.0
56.4
57.1
63.7
49.4
57.8
54.3
64.3
40.1
62.1
35.5
54.1
47.6
62.6
49.5
55.3
224.6
1,429.1
204.3
1,582.3
9.2
120.0
12.0
121.8
5.4
122.5
3.4
115.0
13.2
125.2
7.7
122.5
5.5
117.4
4.8
121.6
11.0
99.5
11.0
125.2
4.5
184.6
187.7
184.6
182.1
176.4
184.4
189.8
198.5
199.2
15.4
109.3
15.9
111.2
15.4
109.3
15.4
106.0
15.8
111.7
20.0
119.4
31.4
111.9
31.4
119.7
32.1
115.9
30.1
113.8
24.2
109.6
91.3
.3070
91.3
.3200
91.3
.3852
97.6
.3300
94.2
.3300
83.7
.3300
82.8
.3300
73.8
.3100
64.4
.3100
61.1
.3100
63.8
.3217
.3406
.3661
.3800
6,724
48, 338
15,380
1,790
68,000
55,500
607
4,120
1,215
100
5,000
4,100
l,08<
3,800
1,165
120
5,100
4,300
169
2,911
1,160
175
5,400
4,500
273
4,727
1,255
145
5,000
3,700
664
5,070
1,505
125
5,500
4,100
439
4,369
1,485
135
5,200
3,900
635
3,438
1,555
160
5,700
4,200
40
5,413
1,630
155
5,400
4,000
62
3,144
1,215
180
4,600
3,500
355
3,382
1,410
155
5,200
3,700
273
3,861
1,265
150
5,200
3,700
52
3,410
193
4,518
5,462
8,441
5.3460
238
7,272
6. 2093
430
8,441
6.1518
324
7. 626
5.9230
380
6.628
5.9336
5',
6,291
5. 5757
617
7,785
5. 3962
405
8,139
5. 7027
7,846
274
7,817
6. 0700
508
7,260
6. 3925
5,774
6. 7484
457.7
35.5
35.3
33.9
33.2
35.3
35.2
22.7
19.9
25.6
24.6
26.5
121.9
575.5
26.5
54.4
12.5
60.6
3.8
64.9
10.9
43.4
13.7
35.1
17.9
65.1
13.0
78.8
19.0
56.1
6.0
49.9
25.6
47.4
9.2
49.2
25.3
54.0
7.8
27.2
8.4
28.6
8.8
28.4
9.9
16.4
8.6
15.9
8.8
15.6
8.1
15.6
7.4
'23.0
6.8
23.1
30.0
2.9
84.0
.1
27.0
3.4
96.0
.1
30.1
3.4
93.0
)
32.0
3.7
99.0
31.3
3.2
31.
2.
84.
34.5
3.1
100.0
.4
33.5
3.9
96.4
)
2.9
......
62.8
81.0
.3006
56.9
83.6
.2900
50.0
86.4
.2900
40.9
82.5
.2900
31.8
93.2
.2980
27.4
92.3
.3116
30.1
86.8
.3237
26.9
89.0
.3283
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content), ABMS
thous. sh. tons..
180.7
Refiners' (primary), refined and antimonial
43.7
(lead content)
thous. sh. tons..
110.1
Consumers' (lead contents
do
Scrap (lead-base, purchased), all smelters
96.0
(gross weight)
thous. sh. tons..
.2310
Price, common grade, delivered
$ per lb..
Tin:
Imports (for consumption):
5,733
Ore (tin content)!
metric tons.
45,055
Metal, unwrought, unalloyedf
do
16,446
Recovery from scrap, total (tin cont.)t
do...
1,467
Asmetalf
do
62,928
Consumption, totalf
do
53,850
Primaryf
do
2,337
Exports, incl. reexports (metal)f...
do...
7,282
Stocks, pig (industrial), end of periodf
do...
Price, Straits quality (delivered)*
$ per lb. * 3. 7982
Zinc:
Mine prod., recoverable zinc
thous. sh. tons.
484.5
Imports (general):
Ores (zinc content)
do...
97.1
Metal (slab, blocks).._
do...
714.5
526
582
683
583
3
.7119
.5390
.7190
649
679
145
137
Consumption (recoverable zinc content):
8.2
7.0
8.3
Ores...
do.
100.8
96.6
27.2
27.2
Scrap, all types
do.
238.2
202.3
28.2
Slab zinc: §
Production (primary smelter), from domestic
and foreign ores.
thous. sh. tons.. 498.9
38.0
36.6
36.9
392.6
2.9
2.6
Secondary (redistilled) production.._
do
63.
3.1
41.4
79.6
85.9
88.2
Consumption, fabricators
do
1,134.1 1,103.1
Exports
do...
3.5
Stocks, end of period:
64.3
65.3
65.8
Producers', at smelter (ABMS)O
do.
65.8
76.7
S6.8
76.2
Consumers'
...do...
111.8
86.8
.3050
.3050
.3073
.3439
Price, Prime Western
$ per ib.
. 3701
r
Revised. * Annual data; monthly revisions are not available. * Less than 50 tons.
s See " *" note for this page. * For month shown.
cf Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.
§ All data (except annual productionfigures)reflect GSA remelted zinc and zinc purchased
for direct shipment.
O Revised Dec. 31 stocks for 1970-73 (thous. tons): 124.2; 48.6; 30.1,
25.9. Producers' stocks elsewhere, end of Dec. 1978, 20,392 tons.
416
32.
88.
.290
7.4
5.2
.3800
5,300
4,000
269
4,975
7.3918
280
7.4502
6. 9562
29.2
53.4
.1
32.9
39.4
.3442
.3450
* New series effective with data for Jan. 1976. Source: Metals Week. MW Composite monthly
price (Straits quality, delivered) is based on average of daily prices at two markets (Penang,
Malaysia—settlement, and LME 3-month—High grade), and includes fixed charges plus
dealer's and consumer's 70-day financing costs; no comparable earlier prices are available.
t Effective with the Apr. 1977 SURVEY, data are expressed in metric tons (to convert U.S.
long tons to metric tons, multiply by factor, 1.01605). « Corrected.
CURRENT
SURVEY
S-34
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1977
1976
Annual
January
1977
Nov.
1978
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
METALS AND MANUFACTURES—Continued
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, neworders (domestic), net, qtrly. 9 O—
mil. $,.
Electric processing heating equip
...do....
Fuel-fired processing heating equip
do
184.3
35.8
77.3
i 240.8
168.0
192.5
Material handling equipment (industrial):
Orders (new), index, seas, adj
1967=100.
167.5
232.3
296.0
278.5
286.5
246.2
298.6
334.0
362.1
351.0
318.2
433.5
308.0
353.0
15,786
16,152
18,000
21,409
1,675
1,901
1,652
1,867
1,363
1,614
1,775
1,912
1,897
2,441
1,539
2,173
2,043
2,241
1,815
2,128
1,297
1,609
1,699
2,190
1,882
2,214
1,986
2,275
1,842
2,191
33,930
43,289
3,316
2,893
3,219
4,378
4,675
4,312
3,839
5,200
3,106
4,645
4,972
5,054
4,486
165.4
199.2
207.5
211.4
213.8
215.4
218.6
222.8
226.2
228.3
227.5
225.4
232.7
251.3
2,580
183.8
207.4
212.3
208.8
208.9
208.7
224.0
233.6
233.9
242.2
238.6
243.3
253.7
250.6
253.3
247.2
178.4
191.4
196.3
196.8
198.6
199.8
200.6
201.5
202.3
203.7
205.6
206.9
207.8
210.1
212.5
213.8
Industrial tracks (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
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
__
Doirestic.
Order backlog, end of period
Metal forming type tools:
Orders, new (net), total.
Domestic.
Shipments, total
._
Domestic
_
Order backlog, end of period
mil. $__
do
do
do
do
_
-do..
do..
.do..
...do..
do..
Tractors used in construction, shipments, qtrly:
Tracklaying, total
_
units..
Wheel (contractors' off-highway)
units..
Tractor shovel loaders (integral units only), wheel
and tracklaying types
_ .units..
Tractors, wheel, farm, nonfarm (ex. garden and
construction types), ship., qtrly
.units..
mil. $..
,662.15
,476.60
., 482.10
,269.85
1,242.4
67.3
14.8
28.8
65.7
16.0
30.3
2,202.05 222.65 250.40
1,980.70 205.95 222.45
1,650.80 163.05 204.15
1,469.85 140.75 175.20
1,793.6 1,747.4 , 793.6
63.45
59.05
58.90
48.90
361.7
68.30
62.25
55.90
50.70
384.1
230.55 234.40
205.45 210.00
146. 25 151. 60
130. 95 140.35
,877.9 1,960.7
83.80
76.35
63.00
55. 55
394.9
258.90 302.20
230,80 273.70
206.00 178. 70
188.35 158. 65
2,013.6 2,137.1
65.40
62.60
66.35
61.40
420.9
76.95
71.30
50.00
44.30
421.9
65.5
16.8
23.3
75.0
15.3
36.5
76.70
70.80
64.25
55.45
433.4
267.40
235. 30
189.45
175. 25
1,215.7
87.45
80.20
66.25
61.20
454.6
316. 95 249.30 274.65 253.00
280.55 231.20 255.10 234.40
216.05 137.75 161.70 193. 60
193.05 123.55 142.90 172.40
2,315.9 2,427.5 2,540.5 2,594.9
334.05
312.00
195.05
173,10
'2,733.8
81.70
75.35
65.15
57.55
518.0
79.95
74.55
71.75
65.45
526.3
75.80
69.60
76.90
68.95
453.5
568.05
508.95
577.55
473.50
209.2
794.85
730.70
629.95
560.35
384.1
19,533
1,025.7
3.772
238.3
19,942
1,127.8
5,271
330.1
5,051
303.8
1,284
86.3
5,820
350.1
1,537
107.7
5,926
361.0
1,546
119.1
34,543
975.7
42,730
1,328.2
10,134
319.3
11,825
394.7
'13,076
464.9
207,036
2,451.5
207,239
2,758.7
47,863
668.5
45,912
693.5
47, 931
706.6
72.25
66.95
70.65
64.40
455.1
100.15
93.95
53.70
49.00
501.5
P347.85
P 3 1 7 . 15
P 2 0 7 . 90
183. 65
P2,873.8
95
P 94.25
104.45
p 89.75
p 522. 8
P100.
4,752 3 2,064
304.3 3 124.6
1,464
105.7
12,031
400.!
37,911 »16,565
552.8 3 286.
ELECTRICAL EQUIPMENT
thous..
49,203
64,601
5,194
5,878
4,711
4,209
3,975
3,287
3,456
3,695
3,703
5,247
5,972
6,442
5,874
Radio sets, production, total market
thous..
Television sets (incl. combination models), production, total market
thous..
44,102
52,926
5,061 2 6,231
2,700
2,907
2
5,422
3,272
3,883 2 5,585
4,328
4,313 2 4,831
3,937
3,246
3,610
14,131
15,432
1,366 2 1,359
1,103
1,197
!
1,674
1,368
1,288 21,678
1,225
1,279
* 2,044
1,538
1,345
1,666
25,800
* 2,962
3,140
2,515
2,462
4,817
1,548
4,492
3,173
9,285
30,957
3,270
3,356
2,941
3,011
5,707
1,598
4,933
3,553
9,392
2,195
233
230
234
216
360
100
348
263
2,422
270
266
273
230
388
114
410
287
3,343
569
345
291
305
569
150
513
375
1,747
3,100
703
307
280
293
480
118
416
296
3,205
639
330
277
307
536
153
446
3,247
591
320
280
296
604
191
435
271
3,084
2,616
307
211
255
249
548
163
376
246
2,789
111
301
278
294
586
168
469
327
2,720
101
288
287
274
528
115
468
340
2,162
2,855
130
342
335
298
518
103
463
347
2,554
162
342
293
259
431
81
372
324
2,225
240
276
231
221
346
67
325
256
1,554
1,824
3,112
1,508
1,746
* 3,070
121
110
230
124
141
242
133
157
270
130
154
286
118
161
275
127
168
217
126
124
21'
137
146
230
155
168
217
595
31
570
43
680
575
116
535
142
47.192
47.192
47.498
47.542
47.537
Batteries (auto.-type replacement), ship
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.
Dryers (incl. gas)
Vacuum cleaners (qtrly.)
_
IldoIII!
do
do
• 2,530
153
321
••271
280
435
77
385
329
• 2,154
184
258
'220
••251
350
76
340
273
4,411
GAS EQUIPMENT (RESIDENTIAL)
Furnaces, gravity and forced-air, shipments.thous..
Ranges, total, sales...
do
Water heaters (storage), automatic, sales
do
128
145
208
140
158
245
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
6,228 r6,175
600
Production %
thous. sh. t o n s . .
••405
430
625
11
615
75
Exports
do
24
Price, wholesale, chestnut, f.o.b. car at mine
$ p e r s h . t o n . . 46.428 I 46.579 46. 579 46.579
46.579
Bituminous:
Production %
_
thous. sh. tons.. 678,685 I 688,575 68, 715 30,930
23,115
T
Revised.
v Preliminary.
i Annual data; monthly
or quarterly revisions
not avail.
2
3
4
JL)ata coyer 5 weeks; other periods, 4 weeks.
For month shown.
Beginning July
1977, data include shipments to mobile home and travel trailer manufacturers (formerly
excluded); they are not directly comparable with those for earlier periods.
340
33
610
52
46. 579
46. 579
46. 579
23,520 38,765 59,530 62,220 65,565 o3,640 64,395
9 Includes data not shown separately.
% Monthly revisions back to 1973 are available upon request.
©Effective 1976, data reflect additional reporting firms.
r
575
100
550
47.530
47. 675
69,245
59,630
January 1979
(JUK KHUN r .bu
SUJt
1977
1976
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1978
1977
Nov.
Annual
S-35
Feb.
Jan.
Dec.
Mar.
Apr.
June
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL—Continued
Bituminous—Continued t
Industrial consumption and retail deliveries,
total 9
thous. sh. tons.. 598,750
447,021
Electric power utilities
do
144,817
Mfg. and mining industries, total
do
84,324
Coke plants (oven and beehive)
do
.19,642
174,828
L37, 785
77,396
50,245
38,107
11,462
6,033
6,900
7,020
675
925
Stocks, industrial and retail dealers' end of
period, total
-thous. sh. tons.. 133,555
116,436
Electric power utilities
do
16,879
Mfg. and mining industries, total
do
9,804
Oven-coke plants...
...do
152,317
.30,951
21,146
12,721
73,063
7,143
25,560
15, 500
52,317
30,951
21,146
12,721
Retail deliveries to other consumers
do
54,405
42,594
0,916
5,399
i6,014
35,737
9,386
4,155
13,810
33,923
9,237
3,988
5,504
54,545
.0,418
5,501
18,753
37,125
11,132
6,406
895
891
650
540
495
8,121 93,130
)2,792 82,437
.5,147 10,574
8,130
5,067
S3,942
96,462
85,772
10,555
5,602
10,886
98,472
2,239
7,129
75,081
8,747
3,750
51,827 55,42S
40,593 44, 035
0, 758 10, 942
6,382 6,530
>7,215
\5,952
.0,820
6,436
54,053
42,688
0,839
6,391
450
442
525
475
21, 588 L9, 791 22,607 25,566
07,498 )7,443 110,006 ':, 797
3, 780 12,058 12, 246 12,407
8,237 6,604 6,276
6,202
240
220
360
220
182
119
114
135
175
310
290
355
362
do
Index, 1967=100..
59,406
367.5
53,687
388.6
4,489
399.4
3,910
401.6
199
403.2
109
404.6
16
406.5
940
426.4
1,548
432.4
1,730
434.5
1,223
437.2
1,251
442.6
3,338
442.9
1,837
444.1
thous. sh. tons..
do
do
605
57,728
26,029
2 414
53,060
26,769
33
4,186
2,244
32
4, 077
2, 236
29
29
2,741
2,014
29
3,603
2,177
2,661
2,321
29
3,753
2,137
33
4,398
2,286
29
4,362
2,220
29
4,455
2,252
25
4,379
29
4,346
30
4,512
6,487
6,173
314
2,127
6,442
6,306
136
2,050
6, 526
6, 369
157
1,980
6, 442
6, 306
136
2, 050
5,937
5,772
3,461
3,373
87
2,270
3,189
3,107
81
2,321
2,993
2,910
83
2,380
2,938
2,848
90
2,376
2,846
2,731
114
2,489
2,954
2,827
127
3,008
2,896
112
3,128
3,029
99
2,095
5,209
5,059
150
2,146
1,315
1,241
142
66
62
81
42
56
103
74
53
46
125
68
103
1,785
282.9
449.6
89
1,875
288.1
463.5
88
1,184
288.8
449.8
85
1,486
289.7
401.2
84
1,499
293.4
447.9
85
1,369
294.3
426.3
83
1,209
295.5
472.2
89
1,812
298.9
451.2
88
1,503
301.8
470.3
88
1.516
3)2. 7
1,619
305.7
1,406
307.5
1,294
310.5
549.3
571.3
561.6
503.6
585.4
537.4
549.6
553.6
255.4
50.4
261.1
52.5
258.8
50.1
234.4
45.3
237.0
50.9
261.2
49.9
272.8
48.9
264.7
49.0
271.2
50.1
190.0
53.5
191.3
66.4
189.2
63.5
159.2
64.7
190.3
71.2
163.5
173.1
192.1
62.7
54.6
47.8
192.8
59.5
6.5
3.4
7.6
Retail dealers
do.
Exports
Price, wholesale.
»3, 687
il, 071
1,691
6,016
1,911
442.9
442.8
COKE
Production:
Beehive
Oven (byproduct)
Petroleum coke §_..
Stocks, end of period:
Oven-coke plants, total-.
At furnace plants
At merchant plants
Petroleum coke
do
do
do
...do
Exports
do...
164
PETROLEUM AND PRODUCTS
Crude petroleum:
17,059
18,886
Oil wells completed
number.
253.6
274.2
Price, wholesale
Index, 1967=100
5,081.4 i,468.4
89
90
Gross input to crude oil distillation units..mil. bbl..
Refinery operating ratio
% of capacity6,253.6 6,785.8
All oils, supply, demand, and stocks:
New supply, total eft
mil. bbl. 2,976.2 2,985.4
Production:
608.8
601.0
Crude petroleum t
do...
Natural-gas plant liquids
do... 1,946.7
, 408. 7
Imports:
729.7
782.9
Crude and unfinished oils J
...do...
Refined products t
do...
199.4
-21.1
Change in stocks, all oils (decrease,—)
do...
6,811.2
6,472.3
Demand, total t
do..
Exports:
2.9
18.3
Crude petroleum
do.
70.3
Refined products
...do.
78.7
6,390.8 6,722. 6
Domestic product demand, total 91
do.
2,567.2 2,633. 3
Gasoline
do.
63.3
61.9
Kerosene
.do.
9.7
-34.5
-43.9
-76.1
-23.5
560.3
629.9
618.4
590.3
616.8
1.4
5.7
553.2
216.8
5.0
2.1
6.4
3.0
4.9
.2
5.6
621.4
229.4
8.5
610.4
207.6
9.6
584.5
193.6
8.8
1.9
6.5
608.4
226.2
6.0
541.5
2.8
7.4
571.8
do.
do..
...do.
--.do.
do..
do.
1,146.7
1,025.1
361.4
1,223.3
1,116.6
379.7
102.6
84.6
31.1
130.3
104.3
33.7
137.6
108.4
30.4
135.3
111.0
31.0
126.8
109.6
34.5
92.8
89.7
30.4
3.
5.9
562.1
241.0
3.8
94.4
82.7
30.8
55.7
146.8
514.0
58.3
156.0
519.6
4.7
11.4
47.6
4.3
7.0
54.4
4.3
4.6
57.6
4.4
4.6
50.4
4.8
7.
44.2
5.3
10.4
34.7
5.5
15.2
36.2
do.
do.
do.
do.
1,111.8
285.5
118.6
707.7
1,311.2
347. 6
121.8
841.8
Refined petroleum products:
Gasoline (inch aviation):
Production
do.
215.8
186.4
210.1
201.2
260^7
214.9
.1
261.
222.6
do.
2,517.0
1.3
234.3
2,582.0
Stocks, end of period
260.
275.3
274.0
262.2
0)
251.6
220.1
(0
236.1
233.6
253.3
256.3
255.8
255.1
252.9
252.
253.0
255.5
.511
.512
.512
.51
Distillate fuel oil t
Residual fuel oil t
Lubricants t
Asphalt
Liquefied gases
_
Stocks, end of period, total
Crude petroleum
Unfinished oils, natural gasoline, etc
Refined products
Prices (excl. aviation):
Wholesale, regular
Index, 2/73=100.
Retail (regular grade, excl. taxes), 55 cities
(mid-month)..
$ per galAviation gasoline:
Production
_
mil. b b l .
Exports
do.Stocks, end of period
do..
Kerosene:
Production
do..
Stocks, end of period
do_.
Price, wholesale (light distillate)
Index, 1967=100.
r
1
Revised.
Less than 50 thousand barrels.
months.
9 Includes data not shown separately.
coke.
.474
13.3
.507
.513
14.2
1.2
1.0
2.
3.0
2.8
55.7
12.5
2
, 345.7 ,311.2
350. 2 347.6
120.2
121.8
875.4 841.8
62.
18.
0)
5.6
20.5
5.7
18.0
, 267.4 1,191.2 1,167.
363.8
351.
350.1
123.
118.3
121.6
680.6
797.8
719.6
0)
.511
0
3.0
5.5
14.3
381.2
379.2
383.
358.
312.3
Reflects revisions not available by
§ Includes nonmarketable catalyst
5.3
11.5
(0
531.4
217.3
3.2
560.1
5.9
6.1
1,861
312.2
37.1
556.8
4.3
5.9
548.1
238.8
2.7
546.5
236.3
3.0
85.1
78.5
31.6
77.9
86.2
31.4
5.8
20.8
33.6
5.1
21.1
34.7
,174.
1,177. 6 1,185. 2 , 222.3
365.0
354.6 363. 4 367.9
123.0
124.0
121.0
121.5
699.0 700.8 732.8
686.1
2.4
2.4
4.C
12.
4.2
13.6
217.8
0)
222.
226.6
0)
219.1
266.1
271.1
274.6
277.9
277.3
282.8
.524
.533
.542
.545
.547
.55'
.564
1.4
0
2.5
2.6
•260.
3.8
3.9
15.9
14.8
402.5
395.5
387.
398.6
r 391.
392.8
393.
397.1
388.
388.
390.
d" Includes small amounts of "other hydrocarbons and hydrogen refinery input," not
shown separately.
t Monthly revisions back to 1973 for bituminous coal and back to 1974
for petroleum and products are available upon request.
KEJN' r
CVJKY OF
S-36
1976 v
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1977
1977 P
Nov.
Annual
January 1979
BU SlJNJb
1978
Dec.
Jan.
Feb.
Mar.
Apr.
May-
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS—Continued
Refined petroleum products—Continued
Distillate fuel oil:
Production
mil. bbl_. 1,070.2
Imports^
do
53.5
.4
Exports
do
Stocks, end of period
do
186.0
Price, wholesale {middle distillate)
337.0
Index, 1967=100..
Residual fuel oil:
Production
mil. bbl_.
504.0
Imports!
do
517.3
42
Exports
do
72.3
Stocks, end of period
do
Price, wholesale
Index, 1967=100..
452.9
Jet fuel:
Production
Stocks end of period
213.4
82.2
5.8
.4
165.9
396.6
398.6
57.0
41.8
4
89.7
510.5
58.0
42.1
4
81.4
514.8
50.4
43.8
.3
64.9
502.7
1,197.1
90.5
.5
250.3
100.2
5.6
.1
270.6
103.0
7.0
.1
250.3
383.8
392.2
394.2
639.0
492,6
2 3
89.7
520.3
50.8
32.8
.2
95.2
511.3
94.7
6.0
99.4
3.7
93.2
4.4
137.9
88.2
3.0
.2
136.3
145.1
157.5
96.4
4.6
.1
180.5
394.8
393.3
393.3 ' 393.3
393.1
393.4
394.1
399.9
408.5
417.8
54.5
52.7
62.2
491.6
46.6
46.9
2
66.2
494.6
51.0
37.9
5
72.4
505.9 '
47.5
30.4
.1
71.9
509. 3
49.4
40.2
.3
75.3
493.9
479.4
480.2
484.0
500.9
502.2
93.0
5.8
mil. bbl_.
do
335.8
32.1
355.7
34.6
28.5
35.4
30.3
34.6
28.6
34.6
27.8
33.3
30.1
32.0
29.5
34.6
31.4
38.5
28.8
37.4
28.8
38.0
Lubricants:
Production
Exports
Stocks, end of period
do
do
do
61.8
9.5
12.3
64 5
9.6
12.1
5.6
.8
11.6
5 2
.8
12.1
5.1
.8
12.3
4.6
.7
12.1
58
.8
12.4
5.7
1.1
12.0
59
.7
11.9
5.8
.8
11.3
6.3
.7
11.9
Asphalt:
Production
Stocks end of period
do
do
139 7
19.4
154 1
18.7
12 7
15.4
10 3
18.7
8.6
22.6
6 7
24.7
98
26.8
12.2
28.6
15 9
29.2
16 4
25.0
17.7
21.8
Liquefied gases (incl. ethane and ethylene):
Production total
do
At eras nrocpssincr nlants (L P G l
do
At refineries (L R G )
do
Stocks (at plants and refineries)
do
561 9
437.4
124 6
116.3
571 8
443.0
128 9
135.9
48.6
38.1
10 5
143.7
49 8
39.1
10 7
135.9
47.2
37.1
10 1
121.7
43.1
33.6
95
111.5
49.5
38.3
11 2
112.6
47.1
36.7
10.5
121.5
47.7
36.5
11.2
129.4
46.0
34.9
11.0
138.5
46.4
35.6
10.8
147.3
35.4
_
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
Consumption
Stocks, end of period.
thous. cords (128cu. ft.).. ' 72,265 ' 72,875
_
do
' 72, 011 ' 73,971
do
' 6,417 ' 5 , 7 6 1
5,674
6,171
5,961
5,745
5,545
'5,761
5,534
6,406
5,421
6,129
6,251
5,210
6,998
6,780
5,382
6,538
6,776
5,15.1
6,463
6,751
4,844
6,949
6,884
5,020
6, 203
6,090
5,141
6,349
6,231
5,323
6,251
6,275
5,363
6,894
6,508
5,895
Waste paper:
Consumption.
Stocks, end of period...
thous. sh. tons.. "11,874 ' 12, 185
do
••728
779
836
661
790
'728
953
640
910
633
1,030
706
1,005
744
1,059
745
976
753
863
732
'732
'744
1,001
749
WOODPULP
Production:
Total, all grades 9
Dissolving and special alpha
Sulfate
_
Sulfite
Groundwood
Soda and semichemical
thous. sh.tons.. ' i 47,721 ' 149,033
do
' 1,443 ' 1, 401
do
'3 32,777 '3 34,005
do
' 2,034 '2,000
.do
' 4,649 ' 4,753
do
' 3 3, 577 ' 3 3,569
3,884
109
2,938
158
377
302
3,489
108
2,592
155
354
280
3,944
131
2,983
172
342
316
3,642
135
2,701
168
326
312
4,149
142
3,149
166
352
340
4,101
113
3,150
165
342
330
4,100
136
3,064
173
387
341
4,109
130
3,085
178
389
325
3,672
114
2,823
129
304
301
• 3,848
3,878
84
117
• 2,983 2,960
'127
116
'362
302
'345
'329
4,061
118
3,099
120
375
350
784 '1,356
'684
348
'609
385
62
51
1,051
613
379
59
1,062
618
391
53
1,090
613
415
62
1,074
613
397
64
1,069
611
395
63
898
426
407
1,014
516
432
66
1,048
'545
'436
'67
'993
'473
'454
'66
992
486
438
69
Stocks, end of period:
Total, all mills
Pulp mills.
Paper and board mills
Nonpaper mills.
do
do
.do
do
Exports, all grades, t o t a l . . .
Dissolving and special alpha.
Allother.
do
.do
do
i 2,518
730
i 1,787
i 2,640
796
i 1,844
161
50
110
240
72
167
185
61
124
185
62
123
233
83
150
210
46
163
227
71
156
266
80
186
230
69
161
174
54
120
269
73
196
207
60
147
Imports, all grades, total
Dissolving and special alpha.
Allother
do
do
do
i 3,727
188
i 3,539
i 3,864
179
13,686
374
19
356
317
17
299
326
10
316
319
23
297
327
20
307
300
8
292
402
16
386
303
296
327
20
307
325
5
320
316
20
297
351
8
343
' 59,898 '61,869 ' 5,131 ' 4,720
' 26,612 ' 27,491 ' 2,313 ' 2,177
' 27,840 ' 28,727 ' 2,340 ' 2,127
' 128
'10
130
'1C
' 5,523
'5,316
'406
'468
5,003
2,350
2,230
8
416
4,956
2,297
2,211
8
439
5,547
2,553
2,494
10
489
5,242
2,379
2,368
10
484
5,602
2,533
2,559
10
499
5,463
2,444
2,541
11
467
4,793
2,075
2,278
6
435
•5,233
. r* 1,372 ' 4 1,356
••4 684
' 4 684
'609
623
62
65
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
All grades, total, unadjusted...thous. sh. tons..
Paper
_
do
Paperboard
do
Wet-machine board
do
Construction paper and board
do
Producer price indexes:
Book paper, A grade
1967=100..
Paperboard.
do
Building paper and board
do
• 2,201
• 2,513
10
'509
4,963
• 2,134
• 2,374
9
'446
5,337
2,321
2,572
9
436
186.8
186.3
185.5
179.4
184.2
179.5
"170.7 "I72.T "I74.~5" "177.3 ~"I78.~6~ 178.6
187.6
189.5
187.0
189.8
192.9
192.0
183.7
190.8
180.1
175.0
186.6
188.7
*
Data
exclude
small
amounts
of
pulp
because
reporting
would
disclose
the
operations
of
'1 Revised.
* Preliminary.
2
Reported annual total; revisions not allocated to the months.
Less than 50 thousand
m
%
Monthly
revisions
back
to
1974
are
available
upon
request.
9
Includes
data
for
items
barrels.
3 Beginning with January 1975, data for soda combined with those for sulphate;
not shown separately.
not comparable with data for earlier periods.
"~I9O~4~ ~"l76.T " 174." 2"
168.3
138.7
157.0
"m."I"
170.4
SUEVEY OF CURKENT BUSINESS
January 1979
1976
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1977
1977
Nov.
Annual
S-37
1978
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS—Con.
Selected types of paper (API):
Groundwood paper, uncoated:
Orders, new
thous. sh. tons..
Orders, unfilled, end of period
do
Shipm ents
do
Coated paper:
Orders, new
_
_ do
Orders, unfilled, end of perioddo
Shipments
do
Uncoated free sheet papers:
Orders, new
do
Shipments
do
Unbleached kraft packaging and industrial converting papers:
Orders new
thous. sh. tons
Orders, unfilled, end of period
do
Shipments
- - .
do
Tissue paper production
do
1,316
151
1,278
1,295
135
1,290
94
134
110
120
135
102
121
151
105
98
149
101
118
155
116
111
133
111
124
130
124
132
144
106
72
138
83
84
143
81
125
174
96
98
152
108
91
141
111
3,956
337
3,981
4,279
398
4,261
342
349
372
384
398
354
356
348
370
363
382
351
419
403
402
337
391
359
385
390
394
376
397
370
333
405
326
382
408
381
337
405
348
346
'351
376
339
358
352
6,354
6,830
6,870
7,162
554
595
595
585
577
591
602
591
702
691
658
644
709
661
666
648
572
575
636
••659
588
••593
581
629
557
614
3,839
4,186
3,815
4,286
305
349
291
337
326
368
307
340
347
373
345
364
348
388
320
369
301
317
293
'338
301
'327
310
'360
300
345
do
do
.do
8,915
8,712
299
8,988
9,005
282
835
810
416
701
835
282
811
721
372
767
688
452
826
927
350
834
798
386
843
895
333
807
853
287
838
833
293
823
813
303
759
770
292
855
868
279
782
792
269
- do
do
do
3,736
3,728
29
3,870
3,866
34
330
334
51
307
324
34
324
315
43
307
309
41
352
360
34
328
323
38
336
340
34
339
342
30
258
255
33
279
284
28
319
316
30
331
337
322
323
24
Consumption by publishers d1 .- .
. do. . .
Stocks at and in transit to publishers, end of
period
. .
thous. sh. tons..
6,534
6,772
620
597
548
521
600
620
631
586
560
558
566
921
796
763
796
774
784
818
818
835
876
898
868
829
Im ports
do
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
.
..Index, 1967=100..
6,569
6,559
610
624
593
530
611
604
639
747
649
680
580
198.2
215.4
216.7
216.7
216.7
216.7
216.7
228.2
228.2
228.2
228.2
230.5
230.5
552
1,035
547
558
1,037
557
548
1,132
560
479
1,037
478
574
1,143
518
591
1,166
577
610
1,306
593
622
1,385
598
634
1,546
612
622
1,556
612
560
1,560
542
598
1,600
586
584
1,470
573
216,371
226,088
19,285
17,898
17,880
18,669
21, 555
19,970 21, 759
22,116
17,583 22, 311
2,639.0
2,105.0
215.0
171.9
235.0
188.1
205.2
164.7
210.9
171.7
240.2
194.3
236.0
193.4
229.9
191.7
200.4
166.5
244.1
205.9
Newsprint:
Canada:
Production
Shipments from mills _
Stocks at mills, end of period
United States:
Production
Shipments from mills
__. _
Stocks at mills, end of period...
Paperboard (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, shipments..thous. sh. tons., 2,592.0
mil. $..
1,979.0
215.7
176.8
25
624
840
657
761
672
230.5
230.5
605
1,479
597
566
1,412
600
546
1,367
555
20,548
22,654
20,407
' 231. 7
' 193. 5
' 247. 3
'209.3
219.8
179.5
230.5
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
thous. metric tons.
Stocks, end of period
.do...
Imports, incl. latex and guayule..thous. lg. tons.
730.73
125.33
712.90
U27.65
792.41
61.31
129.42
37.39
62.53
127. 65
81.99
59.19
123.29
46.71
61.06
116.40
45.68
63.79
117.10
71.77
61.23
115. 60
83.44
67.98
122. 76
75.96
61.88
123.39
54.36
51.68
125.41
47.79
69.13
126.06
71.02
65.55
127. 65
77.07
69.47
133. 48
54.90
46.05
Price, wholesale, smoked sheets (N.Y.)..$ per lb.
.395
.416
.438
.429
.430
.446
.455
.439
.450
.490
.494
.520
.544
.543
.581
thous. metric tons. 2,303.75 2,417.53
. . . d o . . . 2,175.26 2,464.09
...do...
458.12
426.83
195.43
192.94
424.04
196.58
203.35
426.83
198.20
193.23
430.97
195.95 c 205.67
169. 96 c 212.29
456.46 c 445.08
207. 37
211. 28
437. 67
212.33
219. 86
425. 32
Synthetic rubber:
Production
Consumption
Stocks, end of period
Exports (Bu. of Census)
Reclaimed rubber:
Production
Consumption
Stocks, end of period
780.13
192. 71 210.31 214.92
191.00 200. 61 195. 68
427.88 434.49 446. 93
211.17 194.36
211.42 194.19
411. 41 433. 09
thous. lg. tons.
267.99
239. 98
13.80
17.13
16.94
18.86
22.55
19.48
24.90
22.28
19.35
20.04
20.77
22.22
thous. metric tons.
do...
do...
78.46
81.89
16.81
85.37
111. 34
16.26
7.21
9.05
16.15
6.91
8.23
16.26
9.45
9.79
14.76
9.62
9.12
14. 73
9.61
9.39
14.52
10.05
10.11
13.45
9.85
10.28
13.70
9.88
10.26
13.56
9.53
8.75
13.67
10.79
9.60
15.14
5.00
10.01
15.51
5.40
11.28
14.84
.558
23.81
TIRES AND TUBES
Pneumatic casings, automotive:
Production
thous.
185,950 2 231,638 17,716
17,425
18,290
18,319
18,987
18,828
19,148
18,946
15,108
19, 245 19,155
20,497
Shipm ents, total
Original equipment
Replacement equipment
Exports
...do...
dol.!
do...
do...
208,539 2 226,583 16,716
58,573 * 65,998 5,307
145,282 2155,195 11,026
383
4,684
2 5,390
16,025
4,716
10,798
511
15,170
5,238
9,564
368
15,755
4,840
10,573
341
22,198
6,386
15,373
21,738
6,161
15,224
352
20,597
6,300
13,888
409
22,509
6,121
16,008
440
17,584
4,077
13,265
242
20, 516
4,680
15, 464
372
22,214
5,933
15,888
392
22,727
6,408
15,871
447
Stocks, end of period
Exports (Bu. of Census)..
nner tubes, automotive:
Production....
Shipments
Stocks, end of period
Exports (Bu. of Census)
do
do...
34,768
4,784
2 47,181 45,176
6,023
47,181
436
51,523
384
54,621
389
51,986
474
50,006
406
49,276
458
46,293
483
44,280
314
44, 057 41,796
414
462
40,135
0
do..
do...
do"
do
27.548
33,304
5,106
3,167
U08
164
251
323
240
198
268
2,298
'Revised.
i Beginning Jan. 1977, producers' stocks are included; comparable data for
earlier periods will be shown later.
2 Beginning Jan. 1977, data cover passenger
car and
3
truck and bus tires; motorcycle tires and tires for mobile homes are excluded.
Beginning
Jan. 1977, data no longer available.
* Oct. 77 exports for pneumatic casings and inner tubes
are 378 and 154 respectively.
143
223
274
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
c
month; annual data are as of Dec. 31.
Corrected.
January 1979
SURVEY OF CURRENT BU SIJNE
S-38
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
1977
Annual
1978
1977
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. 1 387,410 1418,862 34,548 26,133 15,330 18,516 31,452 37,239 44,904 49,782 43,755 50,340 44,617 48,468
CLAY CONSTRUCTION PRODUCTS
Shipments: X
Brick, unglazed (common and face)
mil. standard brick. 7,218.0 8,300.5 732.2 632.7 461.2 476.9 713.6 788.8 893.6 914.6 807.1 911.6 •784.9 874.8
Structural tile, except facing
thous. sh. tons.
3.7
3.8
5.4
7.7
6.6
7.4
10.5
3.6
5.7
6.9
71.0
45.0
6.3
5.1
Sewer pipe and fittings, vitrified
do...
89.2
43.9
38.6
95.6
94.8
70.9
82.1
65.6
Facing tile (hollow), glazed and unglazed
101.0
94.5
"91.3
106.4
mil. brick equivalent. 1,097.8 1,106.8
2.9
6.3
5.8
3.1
4.6
4.9
4.9
4.7
Floor and wall tile and accessories, glazed and
64.8
61.8
5.7
5.6
5.4
5.6
unglazed
mil. sq. ft.
22.5
20.6
27.1
21.5
21.1
27.9
21.9
25.0
Price index, brick (common), f.o.b. plant or N.Y. 277.2
269.3
26.2
24.3
26.8
27.0
dock
1967=100.
215.7
230.6
231.9
224.4 228.0 230.1
215.7 224.0
177.0
203.7
230.7
242.2
24.3
234.1
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
...thous. $_
Sheet (window) glass, shipments
do
Plate and other flat glass, shipments
do
644,751
101,739
543,012
739,919
Glass containers:
Production*
thous. gross.
302,500
303,452
Shipments, domestic, totalt
do...
Narrow-neck containers:
Food
...do...
Beverage
do...
Beer
do...
Liquor and wine
do...
Wide-mouth containers:
Food (incl. packer's tumblers, jelly glasses,
and fruit jars) %O
thous. gross.
292,345
Narrow-neck and Wide-mouth containers:
Medicinal and toilet
do...
Chemical, household and industrial do...
Stocks, end of period*
do...
GYPSUM AND PRODUCTS
Production:
Crude gypsum (exc. byproduct).-thous. sh. tons.
Calcined
do...
Imports, crude gypsum
do...
Sales of gypsum products:
Uncalcined.
do...
Calcined:
Industrial plasters
do...
Building plasters:
Regular basecoat
do...
All other (incl. Keene's cement)
do...
Board products, total
_
mil. sq. ft.
Lath...
.do...
Veneer base
do...
Gypsum sheathing
do...
Regular gypsum board
do...
TypeX gypsum board
do...
Predecorated wallboard
do...
21,640
210,640
202,552
198,829
25,982
25,375
28,884
28,767
29,150
28,759
26,930
29,428
25,«75
26,528
33,988
27,233
24, 514
29,484
27, 674 27,292
2,184
6,010
9,755
1,897
1,758
5,317
9,501
1,573
2,432
5,683
10, 519
2,134
3,357
4,914
9,304
2,060
2,201
4,763
9,239
2,390
304,785
25,683
21,086
25,069
67,466
92,757
24,352
1,654
5,092
6,614
2,185
1,958
5,604
7,652
2,405
1,876
3,705
6,249
1,841
1,914
4,014
6,889
1,852
2,317
5,438
8,679
2,321
2,234
5,202
8,948
2,132
2,705
6,940
10,569
2,770
61,504
61,330
4,909
5,299
4,937
4,807
5,806
5,226
7,194
4,717
4,187
6,018
5,567
5,944
30,798
4,611
30,091
3,720
2,660
264
2,469
296
2,074
404
2,265
279
2,515
307
2,474
312
3,349
461
2,375
295
1,906
272
2,371
327
2,147
325
2,415
340
42,800
36,912
41,204
36,912
39,337
42,408
43,764
45,739
41,461
111,980
111,036
113,390
»12,590
1,110
1,010
1,034
987
1,110
1,051
1,027
956
1,222
1,071
1,333
1,195
1,277
1,237
6,231
17,074
648
435
593
417
493
5,030
15,759
455
452
295
302
370
305
1326
31
29
25
27
35
162
329
136
312
10
26
9
22
20
9
21
U3,156
184
362
1272
110,117
i 2,029
191
15,369
165
418
289
11,840
2,425
232
1,298
15
36
20
1,002
204
20
1,467
12
38
18
1,138
243
18
1,254
11
35
21
967
204
17
1,194
14
32
16
921
196
16
11
25
1,399
15
40
22
1,071
232
20
529
423
37
11
26
1,364
12
36
22
1,049
227
18
45,902 43,947
1,208
1,121
767
9,321
610,694
29,902
25,727
65,093
81,938
22,674
27,383
247.9
202,475
23,378
22,020
244.6
43,233 46,346
1,195
1,164
1,302
1,184
1,251
1,129
1,212
1,206
825
788
811
700
458
565
505
568
552
494
36
38
28
33
33
38
10
27
14
29
25
10
29
26
11
31
1,399
13
42
22
1,070
232
20
1,388
11
40
22
1,058
236
20
1,351
12
40
21
1,037
221
20
1,502
13
43
.21
1,147
257
21
1,326
10
36
17
1,014
228
20
1,479
11
43
17
1,136
250
22
774
298
468
871
300
565
2,772
1,008
1,765
' 2 964
2 375
' 2 579
851
294
551
•2,752
1,043
• 1,709
866
349
508
860
295
560
2,923
1,166
1,758
1,492
4,667
6,678
••482
591
TEXTILE PRODUCTS
FABRIC (GRAY)
Knit fabric production off knitting machines (own
use, for sale, on commission), qtrly*
mil. lb._ 1,790.9 7 1,688.6
399.2
Knitting machines active last working day*. _thous__
43.5
7 34.3
34.3
Woven fabric (gray goods), weaving mills:
Production, total9
mil. linear yd.. 10,448 10,237
802
2 964
827
Cotton
do
320
4,450
4,237
2 378
341
Manmade
fiber
_
do
474
5,913
5,915
2 577
478
1,203
986
986
932
Stocks, total, end of period 9 <?
do
431
340
340
31.4
Cotton...
_
do
641
640
611
767
640
Manmade
fiber
do "
2,004
1,848
1,797
2,004
2,037
Orders, unfilled, total, end of period 9 If do
789
729
858
819
858
Cotton
do
1,120
1,008
1,146
1,146
1,218
Manmade
fiber
doIIII
COTTON
Cotton (excluding linters):
Production:
GinningsA
thous. running bales.. U0,347 3 14,018 11,711 13,513 13,859
Crop estimate
thous. net weight bales © . . ^ 10,581 314,389
Consumption
thous. running bales
493
6,393
2 562
505
Stocks in the United States, total, end of period 9"
thous. running bales. . 9,610 12,890 13,951 12,890 11,935
Domestic cotton, total
do
12,883 13,943 12,883 11,928
9,581
On farms and in transit
do.... 1,247
1,665
1,360
1,665
3,874
Public storage and compresses
do
9,634
9,205 10,268
7,377 10,268
950
934
864
Consuming establishments
do
957
950
r
v Preliminary.
i Annual total; revisions not allocated to the months.
2 Revised.
Data cover 5 weeks; other months, 4 weeks. 3 Crop for the year 1977.
* Crop for the year 1976. « Beginning 1st Qtr 1977, data no longer available.
• Dec. 1
estimate of 1978 crop.
7 Beginning 1st Qtr 1977, data exclude garment lengths, trimming,
and collars; not comparable with earlier data.
OBales of 480 lbs.
©Includes data for "dairy products."
A ew series.
Source: BuCensus.
Data cover warp and weft knit yard goods and knit
gaiirent lengths, trinr.niings, and collars; no quarterly data prior to 1974 are available.
439.7
34.3
412.1
34.5
814
323
481
927
311
609
2,050
755
1,295
»382
3
588
915
306
602
2,148
806
1,342
3 14,018
314,389
784
303
471
866
307
553
2,388
803
1,585
786
305
471
860
307
547
2,522
797
1,724
579
2,580
821
1,759
621
234
380
871
294
570
2,811
1,082
1,728
2 970
2 368
2 589
144
672
506
2 620
484
484
575
"383
459
10,836
10,828
1,162
8,714
952
9,525
9,518
1,110
7,398
1,010
8,395
7,391
7,385
977
5,312
1,096
6,285
6,281
765
4,411
1,105
5,326
5,321
700
3,803
1,118
976
6,375
1,037
15,130 13,976 12,932 P12, 038
15,126 13,971 12,929 *>12,035
1,606
950 ' 6,603 v 4,834
3,457 3,431 r 5,312 p 6,194
1,063 1,030 '1,014 P 1,007
JMonthly revisions back to 1975 for shipments of clay construction products and for Jan.Mar. 1975 for glass containers will be shown later.
9 Includes data not shown separately.
& Stocks (owned by weaving mills and billed and held for others) exclude bedsheetmg,
toweling, and blanketing, and billed and held stocks of denims.
1[Unfilled orders cover wool apparel (including polyester-wool) finished fabrics; production
and stocks excludefiguresfor such finished fabrics. Orders also exclude bedsheetmg, toweling,
and blanketing.
ACumulative ginnings to end of month indicated.
SUKV'Hi I <JJb U
January 19*79
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1976
S-39
1977
1977
Nov.
Annual
EJNT -BUS
1978
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
TEXTILE PRODUCTS—Continued
COTTON AND MANUFACTURES—Con.
Cotton (excluding linters)—Continued
Exports
thous. running bales..
Imports
.thous. net-weight®bales_.
Price (farm), American uplandiF
cents per l b . .
Price, Strict Low Middling, Grade 41, staple 34
(lMe"), average lOmarkets
cents per l b . .
Spindle activity (cotton system spindles):
Active spindles, last working day, total
mil_.
Consuming 100 percent cotton
do
Spindle hours operated, all fibers, total
bil..
Average per working day
.do
Consuming 100 percent cotton
do
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly.)
mil. lin. y d . .
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' p r o d . .
Ratio of stocks to unfilled orders (at cotton
mills), end of period
--Exports, raw cotton equiv. thous. net-weight(DbalesJ
Imports, raw cotton equivalent
do
3,431
96
64.7
4,448
25
51.8
170.9
7
16.8
7.5
105.6
.406
48.1
50.8
16.6
6.7
103.6
.398
43.4
333
(10)
496
9
521
0
48.0
(10)
51.4
47.9
48.0
16.6
6.8
8.2
.410
3.4
48.4
16.5
6.7
2 9.3
.371
2 3.7
51.0
502
(10)
50.3
16.7
6.6
8.2
.412
3.3
52.9
16.5
6.6
8.3
.416
3.4
704
51.3
640
0
51.7
55.0
54.7
(10)
16.5
6.5
10.1
.403
2 4.0
510
(10)
53.7
16.6
6.6
8.2
.413
3.4
57.6
16.4
6.4
8.2
.408
3.3
528
1
54.8
57.4
16.3
6.3
2 10.0
.402
24.I
456
(10)
56.5
57.0
16.3
6.4
6.5
.327
2.7
524
0
56.6
59.8
388
(10)
55.9
355
0
'61.1
6.3
6.3
3.3
4.0
283
P60.0
16.3
6.3
7.9
.395
3.2
16.3
6.3
2 9.6
.383
2
3.9
1,010
59.6
(10)
4,718
4,356
3 13.2
3 11.7
11.0
13.5
13.0
12.3
14.4
14.0
13.7
13.9
22.7
17.7
17.2
16.6
3 4.7
3 4.7
4.6
4.6
4.4
4.5
4.8
4.9
4.8
4.8
5.9
5.2
4.7
5.7
3.36
556.0
718.3
3.40
460.1
525.2
.41
26.3
32.3
.34
46.3
53.1
.34
32.4
70.0
.37
35.4
44.8
.33
37.9
56.7
.35
35.3
68.7
.35
34.7
53.9
.35
33.1
60.6
.28
37.9
.25
31.8
60.8
.29
35.9
51.3
286.9
475.4
282.0
527.0
65.6
121.9
71.5
129.3
76.3
131.7
76.9
133.8
3,292.9
3,320.2
676.0
3,659. 9
3,653.8
786.7
873.4
931.4
222.2
909.4
,002.1
225.2
951.0
996.8
229.1
956.7
952.1
233.7
18.1
30.0
16.7
49.8
16.7
49.8
13.1
11.7
46.1
12.6
37.4
* 299.8
289.0
79.4
353.0
299.7
67.9
350.3
299.7
67.9
353.6
306.3
84.5
336. 5
347.6
89.4
334.3
328.1
89.3
6,092.4
1,984.4
378.2
356.8
53,500.4
184.8
2,713.2
320.5
6,223.6
2,014.1
371.5
356.9
3, 583.2
286.2
2,677.1
359.5
1,644.5
539.0
94.9
80.3
940.3
84.1
693.1
96.3
1,648.5
555.3
98.6
78.4
931.8
84.7
660.8
97.5
1,690.3
566.8
104.0
95.1
957.2
83.3
673.5
97.9
3.30
3.42
.35
.34
.31
.31
.30
.34
.22
.21
.21
.20
.19
.19
8.416
.405
.441
.438
.451
.456
.475
.495
.515
.493
.496
.496
.516
.514
.725
.901
.727
.727
.729
.725
.729
.751
.763
.780
.778
.776
.794
.824
1,023
1,046
899
M A N M A D E FIBERS AND MANUFACTURES
Fiber production, qtrly:
Filament yarn (acetate).
mil. lb_.
Staple, incl. tow (rayon)
_
..do
Noncellulosic, except textile glass:
Yarn and monofilaments
do
Staple, incl. tow
do_.^_
Textile glass
fiber
do
Fiber stocks, producers', end of period:
Filament yarn (acetate)
do_._.
Staple, incl. tow (rayon)
._
do
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
do
Staple, incl. tow
do
Textile glass
fiber
do
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total <?
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. blanketing9_do
Rayon and/or acetate fabrics, blends...do
Polyester blends with cotton
do
Filament and spun yarn fabrics
do
Manmade fiber gray goods, owned by weaving
mills:
Eatio, stocks to unfilled orders, end of period...
Prices, manufacturer to mfr., f.o.b. mill:*
50/50 polyester/carded cotton printcloth, gray,
48", 3.90 yds./lb., 78x54-56
$peryd_.
65% poly./35% comb. cot. broadcl., 3.0 oz/sp yd,
45", 128x72, gray-basis, wh. permpresfin.
$ per yd..
Manmade fiber knit fabric prices, f.o.b. mill:*
65% acetate/35% nylon tricot, gray, 32 gauge, 54",
3.2 oz./linear yd
_$ per yd_.
100% textured polyester DK jacquard, 11 oz./
linear yd., 60", yarn dyed, finished.._$ per yd_.
Manmade fiber manufactures:
Exports, manrrade fiber equivalent
mil. lbs.
Yarn, tops, thread, cloth.
do
Cloth, woven
do
Manufactured prods., apparel, furnishings.do
Imports, manmade fiber equivalent
do
Yarn, tops, thread, cloth
do
Cloth, woven
do
Manufactured prods., apparel, furnishings.do
Apparel, total
do
Knit apparel.__
do
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
Apparel class
mil. lb_.
Carpet class
do
Wool imports, clean yield
do
Duty-free (carpet class)
...do
Wool prices, raw, shorn, clean basis, delivered to
U.S. mills:cf
Domestic—Graded territory, 64's, staple 2H"
and up
$perlb_.
Australian, 64's, Type 62, duty-paid
do
Wool brcedwoven goods, exc. felts:
Production (qtrly.)
mil. lin. y d .
.596
.412
.501
.435
.435
.443
.451
.456
.467
.472
«1.846
• 1.708
1.C09
1.674
1.655
1.665
1.658
1.658
1.651
1.655
352.17
201.92
139.17
150.25
479.32
83.82
64.41
395.49
343.25
209.80
367.08
206.34
131.35
160.74
531.13
110.11
67.70
421.02
365.24
218.68
27.50
14.64
9.97
12.86
37.57
6.09
4.14
31.48
27.22
16.28
34.35
19.75
14.00
14.60
41.83
10.06
6.90
31.77
26.26
13.94
34.05
17.14
10.85
16.91
45.54
14.91
7.98
30.63
24.80
12.33
33.47
17.24
10.65
16.23
46.68
11.95
5.90
34.73
29.50
17.10
42.23
22.86
13.07
19.37
46.34
13.29
7.27
33.05
27.48
15.78
40.38
21.50
12.77
18.88
53.87
16.11
7.85
37.76
31.08
18.46
45.18
23.30
13.24
21.89
59.74
13.74
8.05
46.01
40.00
25.09
43.18
20.85
13.82
22.33
67.70
12.36
7.94
55.34
48.88
30.40
38.52
18.62
11.11
19.90
70.41
14.13
8.61
56.28
49.66
29.34
41.62
20.99
12.48
20.63
64.75
12.29
8.51
52.46
46.95
26.89
43.02
23.29
15.12
19.72
106.7
15.1
58.0
18.9
95.5
12.5
53.0
18.8
7.0
.8
1.8
2 7.9
2 1.0
3.0
2.0
7.7
1.0
3.7
2.2
8.2
10.5
1.2
4.1
1.4
8.8
1.1
4.9
2.2
9.2
1.0
4.0
1.5
10.3
1.5
3.8
2.0
7.0
3.2
1.9
4.7
2.3
8.4
1.0
5.4
2.5
9.4
1.4
3.4
1.9
8.0
1.2
4.0
1.8
4.8
1.5
1.82
6 2.18
1.83
2.2?
1.82
2.30
1.82
2.26
1.82
2.28
1.78
2.30
1.78
2.31
1.81
2.32
1.84
2.33
1.92
2.36
1.92
2.36
1.92
2.36
1.95
2.36
1.97
2.36
2.02
2.37
97.3
101.7
25.4
28.2
31.7
939.3
1,024.6
271.1
242.6
' 281. 3
20,689
170,744
34,050
19,735
4,929
17, 624
166,385
34, 575
19,540
5,445
1,567
1,105
12, 553 10,531
2,523
1,951
1,704
1,473
427
435
.495
2.02
2.37
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other), shiprrents, Quarterly
mil. sq. y d s .
271.1
APPAREL
Women's, misses', juniors' apparel cuttings:*
Coats
thous. u n i t s .
Dresses
do
Suits (incl. pant suits, jumpsuits)
do
Blouses
.thous. dozen..
Skirts
.do.
1,037
12,152
2,307
1,719
443
r
2
Revised.
*> Preliminary.
* Season average.
For 5 weeks, other months, 4 weeks.
3 Monthly average.
« Effective Sept. 1976 SURVEY, data omit production and stocks of
saran and spandex yarn.
« Effective 1976, production of blanketing is included in 100%
?pun yarn fabric (prior to 1976, in "all other group," not shown separately).
«Avg. for
7
9
May-Dec.
Average for Fales prior to Apr. 1,1977.
« Avg. for Feb.-Dec.
Effective
10
Jan. 1,1978, includes reexports, formerly excluded.
Less than 500 bales.
If Based on 480-lb. bales, p price reflects sales as of the 15th; restated r price reflects total
q u a n t i t y purchased and dollars paid for entire month (r price includes discounts and
premiums).
9 Includes data not shown separately.
0 Net-weight (480-lb.) bales.
984
13,006
2,595
1,864
532
1,173
15,504
2,815
2,174
641
1,531
1,854
2,193 -•2,080
1,967
1,408
1,748
15,048 14,600 14,115 11,246 14,133 14,001 13,811
1,757
1,761
'
2,037
2,264
2,026
2,343 2,189
2,136
1,551
2,217 r 2,042
1,945
1,778
1,960
603
495
'554
••604
574
537
638
d* Effective Jan. 1976, specifications for the price formerly designated fine good French
combing and staple have been changed as shown above. Effective with the May 1976 SURVEY
the foreign wool price is quoted including duty.
*New series. Apparel (BuCensus)—Annual totals derived from firms accounting for 99%
of total output of these items; current monthly estimates, from smaller sample. Monthly data
for 1975, adjusted to annual totals, are available. Coats exclude all fur, leather, and raincoats.
Suits omit garments purchased separately as coordinates. Except for the year 1974, earlier
monthly data
are available, except for suits. Prices (USDL, BLS)—Data not available prior
a
to 1976.
Avg. for Jan.-Apr.; June-Dec.
SURVEY OF CUEEENT BUSINESS
S-40
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS
1977
1976
1978
1977
Nov.
Annual
January 1979
Dec.
Jan.
Feb.
Mar.
May
June
July
Aug.
Sept.
1,432
1,376
9,368
1,193
2,691
22,541
1,438
1,291
8,889
1,272
2,869
24,987
843
786
5,711
785
1,990
22,044
1,334
1,311
1,302
1,483
2,810
24,569
Apr.
Oct.
Nov.
Dec.
TEXTILE PRODUCTS—Continued
APPAREL-Con.
Men's apparel cuttings:
Suits*
thous. units_.
Coats (separate), dress and sport}
do
Trousers (separate), dress and sportt
do
Slacks (jean cut), casual t
thous. doz__
Shirts, dress, sport, inc. knit outerwear t---do
Hosiery, shipments
thous. doz. pairs. .
° 16,224
«12,874
132,163
11,732
a
16,065
«13,652
125,827
15,537
32,523
36,797
240,918 248,144
1,384
1,167
9,206
1,260
2,662
22,284
1,193
1,099
7,408
1,301
2,332
18,336
1,335
1,031
8,499
1,190
2,318
18,384
1,261
960
9,472
1,283
2,298
19,418
1,496
1,378
10,505
1,295
2,784
21,859
1,381
1,193
9,241
1,239
2,609
21,183
2,985
23, 664 24,589
24,062
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly, total
U.S. Government
Prime contract.
Sales (net), receipts, or billings, qtrly, total
U.S. Government
mil. $.. ' 35,992
do
21,056
• 32,364
do
do_... ' 31,328
19,083
do
' 38,922
• 22,682
' 35,478
' 33,315
' 20,704
13,946
8,792
13,046
8, 921
' 5,513
10,807
5,567
10,084
8,511
5,093
13,486
7,525
12,553
9,095
5,408
• 39,702 • 45,309
Backlog of orders, end of period 9
do
• 24,141 ' 26,119
U.S. Government
do
17,321 " 19,709
Aircraft (complete) and parts
do
r
3,558
Engines (aircraft) and parts
do.
5,354
Missiles, space vehicle systems, engines, propulsion units, and parts
mil. $..
' 6,743
Other related operations (conversions, modifica5,542 ' 6,208
tions), products, services
mil. $..
45,309
26,119
19,709
' 5,354
46, 796
25,843
20,330
5,192
49,474
27,706
22,767
5,559
6,377
Aircraft (complete):
Shipments
Airframe weight
Exports, commercial
r
r
6,743
6,163
p
6,208
6,936
294.5
2,624
363.0
3,604
203
478.5
4,287
172
436.2
3,902
210
434.8
5,113
165
662.2
6,293
275
469.1
4,959
248
564.1
5,844
379
679.1
'6,071
356
572.3
5,431
423
504
635
795
646
149
11.2
9.3
2.1
657
616
687
545
142
10.1
8.0
2.1
675
623
777
628
149
10.5
8.5
2.0
909
842
1,078
883
195
11.8
9.8
2.1
806
1,043
863
180
12.3
10.2
2.1
919
850
1,159
963
196
12.1
10.0
2.1
821
1,137
950
187
11.8
9.7
2.0
589
553
930
762
168
11.0
9.1
1.9
528
492
958
753
205
11.9
9.9
2.0
738
676
828
662
166
10.8
8.9
1.9
894
828
1,034
884
150
11.1
9.2
1.9
842
784
909
770
139
11.0
9.0
2.0
"769
646
P 123
Pll.2
9.4
"1.8
1,709
1,760
2.4
1,731
1,784
2.3
1,887
1,824
2.8
1,952
1,848
2.6
1,991
1,866
2.3
2,008
1,877
2.2
1,970
1,818
2.2
1,911
1,721
2.1
1,729
1,694
2.2
1,510
1,655
2.0
1,606
1,678
2.3
1,629
1,737
2.3
1,718
1,767
2.4
1,729
1,780
2.3
697.20
591.51
2,791.3
849.2
10,826
1,977
51.61
41.93
242.6
71.3
3 788
3 123
46.84 • 47.09
37.00 •38.30
257.0 • 116.2
61.8
6 55.5
3 946
*703
170
4 127
53.72
41.81
253.6
61.1
3 767
3 152
62.84
49.56
299.1
78.9
3 870
3 163
70.48
57.21
310.1
78.1
* 916
69.32
57.92
266.5
73.5
*987
*162
70.63
58.20
281.4
86.8
3 21,053
166
61.60
46.61
212.3
78.3
4 887
4 185
66.74
50.06
232.8
77.2
866
149
58.73
43.19
230.5
80.2
4 826
4 140
3,440
3,178
278
257
256
235
240
223
341
311
319
291
338
309
355
324
272
254
281
247
366
337
305
3,145.0
171.5
169.1
280.6
14.0
14.5
297.5
14.6
14.4
257.3
13.2
14.2
276.6
13.3
14.7
308.4
16.3
18.3
305.9
14.7
16.5
296.7
14.0
17.1
316.9
14.7
17.6
281.7
14.0
18.6
321.8
11.2
16.8
305
281
250.9
12.0
17.0
313.1
13.2
17.2
316.8
13.7
16.2
300.1
15.5
17.6
716.1
202.55
736.4
16.52
736.0
14.88
717.4
813.60
713.4
18.58
715.1
21.72
717.0
22.86
696.0
22.74
675.2
24.24
658.2
18.05
643.2
16.58
741.9
21.73
785. 1
24.90
822.43
67.02
81.31
•86.15
84.67
103.13
96.87
92.12
97.00
85.88
63.80
83.21
90.77
3,509
3 275
3 336
4 255
3 287
*320
*342
3 357
4 386
4 305
4 314
159,297
98,687
7,193
20,662
14,597
9,242
603
2,212
13,012
8,169
519
2,115
12,590
7,817
483
2,265
14,052
8,637
408
2,429
17,543
11,653
578
3,341
15,540
9,930
352
2,643
17,589
11,150
622
2,531
16, 872
10, 967
540
2,421
13,758
8,853
462
2,192
16,979
11,585
670
3,170
15,558
10,324
320
1,718
17,767
11,944
466
1,796
4,009
150,927
» 45,872 3,477
* 66,750 4,053
4,053
157,402
36,410 30,757
29,490 27,017
4,652
4,314
10,550
7,032
36,410
29,490
3,762
3,522
6,344
6,144
38,195
31,315
3,795
3,483
6,352
6,352
40,602
34,034
4,874
4,489
4,346
4,346
45,387
39,204
4,702
4,351
10,258
10,008
50,943
44,861
5,843
5,644
16,907
16,907
61,802
55,919
6,893
6,113
14,815
14,815
69,298
64,195
4,753
6,198
4,351
11, 599 13, 5«6
11,265 13, 086
75,461 82,733
70,426 78,197
5,942
5,533
10, 561
8,911
87,200
81, 423
6,465
6,174
9,010
9,010
87,605
82,119
6,733
6,461
8,802
8,302
91,773
86,059
1,267
8.9
95.64
75.50
1,263
9.1
95.44
75.58
1,253
9.3
94.84
75.66
1,247
9.5
94.47
75.74
1,247
9.5
94.45
75.73
1,245
9.3
94.38
75.83
1,242
9.3
1,239
8.9
94.38
76.20
1,232
8.8
94.05
76.31
1,231
8.4
94.18
76.50
1,228
8.1
94.04
76.61
4,700.9
47,647
2,605
366.5
3,872
180
525.3
4,481
284
8,498
7,838
10,110
8,611
1,498
9,199
8,511
11,185
9,109
2,075
767
718
881
738
143
10.8
8.7
2.1
1,465
1,519
1.9
1,731
1,784
2.3
thous.. 680.46
do...
573. 47
d o l " ! 2,536.7
do
825.6
do..." «9,752
do.... * 1,447
4,646.8
do
thous. lb__ 49,094
mil. $_. *3,207
MOTOR VEHICLES (NEW)
Passenger cars:
Factory sales (from U.S. plants), total
thous..
Domestic
do
Retail sales, total, not seasonally adj
do
DomesticsA-do...!
ImportsA.
_
do
Total, seas, adjusted at annual rate t
mil..
DomesticsA t
do
ImportsA t
do
Retail inventories, end of mo., domestics: A
Not seasonally adjusted
thous..
Seasonally adjustedt
do
Inventory-retail sales ratio, domestics A t
Exports (BuCensus), assembled cars
To Canada
Imports (BuCensus), complete units.
From Canada, total
Registrations©, total new vehicles
Imports, incl. domestically sponsored
Trucks and buses:
Factory sales (from U.S. plants), total
thous.
2,979
Domestic
do
2,734
Retail sales, seasonally adjusted:*
Light-duty, up to 14,000 lbs. GVW
do
2,762.8
Medium-duty, 14,001-26,000 lbs. GVW do
161.7
Heavy-duty, 26,001 lbs. and over GVW..do
119.6
Retail inventories, end of period, seasonally adiusted*
thous.
546.4
Exports (BuCensus), assembled units
do...
199.63
Imports (BuCensus), including separate chassis
and bodies
thous.. 812.83
Registrations©, new vehicles, excluding buses not
produced on truck chassis
thous.. «3,058
Truck trailers and chassis, complete (excludes detachables), shipments.
number.
Vans
do
Trailer bodies (detachable), sold separately..-do
Trailer chassis (detachable), sold separately..do
105,437
61, 726
7,316
5,678
45.83
36.11
25.95
33.75
198.3
236.8
47.6
41.1
4
1,062 3 1,061
3 198
4 183
653.3
22.18
76.23
4 335
2
632
2 277
RAILROAD EQUIPMENT
Freight cars (new), for domestic use; all railroads
and private car lines (excludes rebuilt cars and
cars for export):
Shipments..
number
Equipment manufacturers
do
New orders
_
do...
Equipment manufacturers.
do
Unfilled orders, end of period
do'.'.V.
Equipment manufacturers.
_.do
52,548
45,618
36,148
30,546
23,415
18,733
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..
1,332
8.8
97.71
73.37
1,267
8.9
95.64
75.50
1,290
8.8
97.12
75.29
r
Revised.
» Preliminary.
i Annual total includes revisions not
distributed by
4
months.
2 Production, not factory sales.
3 Excludes 2 States.
Excludes 1 State.
Excludes 3 States.
• Beginning 1978, data may not be strictly comparable with those for
earlier years because of the revised export schedule.
JAnnual figures, "Apparel 1975," MA-23A(75)-1. Survey expanded and classification
changed; not comparable with data prior to 1974.
9 Total includes backlog for nonrelated products and services and basic research.
tSeas. adj. data (1971-74) in the Mar. 1976 SURVEY, p. 5, do not reflect end-digit revisions to
imports and total sales introduced in the Feb. 1977 SURVEY.
ADomestics include U.S.-type cars produced in the United States and Canada; imports
94.30
75.94
1,239
9.0
94.20
76.04
cover foreign-type cars and captive imports, and exclude domestics produced in Canada.
©Courtesy of R. L. Polk & Co.; republication prohibited.
§Excludes railroad-owned private refrigerator cars and private line cars.
*New series. Source: Motor Vehicle Manufacturers Assn. of the U.S. (seas, adjustment
by BEA). Reporting firms do not represent the entire industry. Motor coaches are not
covered. Sales include imports of U.S. manufacturers only (all other imports are not covered).
Units refer to complete vehicles and to chassis sold separately. Gross vehicle weight refers
to the weight of the
vehicle with full load. Seasonally adjusted monthly data back to 1971
a
are available.
Excludes leisure-type; not strictly comparable with 1974.
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; tobacco
Leather and products
25, 26
26
27-30
30
Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
31
31-34
34-36
36,37
Rubber and rubber products.
Stone, clay, and glass products
Textile products
Transportation equipment
37
38
38-40
40
INDIVIDUAL SERIES
Advertising
11,16
Aerospace vehicles
40
Agricultural loans
17
Air carrier operations
24
Air conditioners (room)
34
Aircraft and parts
7,40
Alcohol, denatured and ethyl
26
Alcoholic beverages
11,27
Aluminum
33
Apparel
1,4,8,9,11-16,40
Asphalt
35,36
Automobiles, etc
1,4-6, 8,9,11,12,20,23,24,40
Banking
Barley
Battery shipments
Beef and veal
Beverages
Blast furnaces, steel mills
Bonds, issued, prices, sales, yields
Brass and bronze
Brick
Building and construction materials
Building costs
Building permits
Business incorporations (new), failures
Business sales and inventories
Butter
17,18
27
34
28
9,11, 22 23, 27
5-7
20, 21
33
38
4, 6,
7,11 31,38
10,11
10
7
5
27
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
4,6,9,14-16,20,23,25,26
Cigarettes and cigars
30
Clay products
9,38
Coal
4,9,23,34,35
Cocoa
23,29
Coffee
23,29
Coke
35
Combustion, atmosphere, heating equipment
34
Communication
2,20,25
Confectionery, sales
29
Construction:
Contracts
10
Costa
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
4,35
Currency in circulation
20
Dairy products
Debits, bank
Debt, U.S. Government
Deflators, GNP
Department stores, sales, inventories
Deposits, bank
Dishwashers
Disputes, industrial
Distilled spirits
Dividend payments, rates, and yields
Drugstores, sales
3b
3,8,9,27
17
19
.'.'
2
12,13
17,20
34
16
27
2, 3,20, 21
12,13
Earnings, weekly and hourly
15,16
Eating and drinking places
12,13
Eggs and poultry
3, 8,9,29
Electric power
4,9,26
Electrical machinery and equipment
5-7,
9,14,15,20,23,24,34
Employee-hours, aggregate, and indexes
15
Employment
13,14
Expenditures, U.S. Government
19
Explosives
26
Exports (see also individual commodities).... 1,3,22-24
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 com mod.)
22-24
Freight cars (equipment)
40
Fruits and vegetables
8,9
Fuel oil
35,36
Fuels
4,8,9,23,34-36
Furnaces
34
Furniture
5,9,12-15
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gross national product
Gross national product, price deflators
Gross private domestic investment
Gypsum and products
4,9,26
1,35
38
26
19
8,9,22,27, 28
12,13
1
2
1
9, 38
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
15
Housefurnishings
1,4,5,8, 11,12
Household appliances, radios, and television sets.
4,
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
Instruments and related products
5,6,14,15
Insurance, life
19
Interest and money rates
18
International transactions of the United States . . .
3
Inventories, manufacturers* and trade
5-7,11,12
Inventory-sales ratios
5
Iron and steel
5,9,11,20, 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 (see also
Consumer credit)
11,17,18
Lubricants
35,36
Lumber and products
5,9,11,12,14,15,20,31
Machine tools
34
Machinery
5-7,9,14,15,20,23,24,34
Mail order houses, sales
12
Manmade fibers and manufactures
9,39
Manufacturers9 sales (or shipments), inventories,
orders
5-7
Manufacturing employment, unemployment, production workers, 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, 4,9,14-16,20
Monetary statistics
19, 20
Money supply
20
Mortgage applications, loans, rates
11,17-19
Motor carriers
24
Motor vehicles
1,4-^,8,9,11,20,23,40
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
5-7,9,20,23,33
Noninstallment credit
18
Oats
Oils and fats
Orders, new and unfilled, manufacturers*
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
2,4,10,20,21, 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
Refrigerators
34
Registrations (new vehicles)
40
Rent (housing).
8
Retail trade
5,7,12-16,18
Rice
28
Rubber and products (incl. plastics)
4,6,
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
5, 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
4,6,8,14,15,30
Tractors
34
Trade (retail and wholesale)
5,11,12,14-16
Transit lines, urban
24
Transportation
1,2,8,14-16,20-22,24, 25
Transportation equipment
5-7,14,15,20,40
Travel
...
24,25
Truck trailers
40
Trucks (industrial and other)
34, 40
Unemployment and insurance
13,17
U.S. Government bonds
17-21
U.S. Government
finance
19
U.S. International transactions
3
Utilities
2,4,8,10,21,22,26
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Veterans* unemployment insurance
Wages and salaries
Washers and dryers
Water heaters
Wheat and wheat flour
Wholesale Price Indexes
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc.
34
12 1
» ?
23,29, 30
8,9
1•
2,3, 15,16
34
34
28
•. • • • • 8,9
5,7,11, 14-16
36
,
9,39
33
UNITED
STATES
GOVERNMENT PRINTING OFFICE
P U B L ! C DOC <J MUNTS
DEPARTMENT
WASHINGTON, D.C. 20402
In the fourth quarter
• Real GNP increased 6 percent
• GNP fixed-weighted price index Increased 8V2 percent
• Real disposable personal income increased 5 percent
Real GNP
1974
1975
1976
GNP Prices
1977
1978
1974
Disposable Personal Income
1974
1975
1976
1977
1976
1977
1978
Corporate Profits With IVA and CCAdj
1978
Percent change from preceding quarter—seasonally adjusted at <
1975
1974
1975
1976
1977
1978
@FedFRASER