Full text of Survey of Current Business : January 1980
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JANUARY 1980 / VOLUME 60 NUMBER
SURVEY OF CURRENT BUSINESS
CONTENTS
THE BUSINESS SITUATION
1
National income and Product Tables
12
Plant and Equipment Expenditures: Year 1980
21
State and Local Government Fiscal Position in 1979
23
State Personal Income, Third Quarter 1979
27
Total Personal Income, States and Regions
28
\
U.S. Department of Commerce
Philip M. Klutznick / Secretary
Courtenay M. Slater / Chief Economist
for the Department of Commerce
Bureau of Economic Analysis
George Jaszi / Director
U.S. International Transactions
in Royalties and Fees, 1967-78
Summary National Income and Product Series,
Annually and Quarterly: 1947-79
29
36
Allan H. Young / Deputy, Director
Carol S. Carson / Editor-in-Chief,
Survey of Current Business
Manuscript Editor: Dannelet A. Grosvenor
Managing Editor: Patti A. Trujillo
Staff Contributors to This Issue: Robert B. Bretzfelder, Robert L. Brown, Douglas R. Fox, Howard L.
Friedenberg, Eric R. Johnson, Meryl L. Kroner, David
J. Levin, Virginia K. Olin, Edward I. Steinberg, John
T. Woodward.
SURVEY OF CURRENT BUSINESS. Published monthly by
CURRENT BUSINESS STATISTICS
General
SI
Industry
S22
Footnotes
S37
Subject Index (Inside Back Cover)
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MD., Baltimore 21202
415 U.S. Customhouse 962-3560
N.Y,, Buffalo
142O2
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S.C., Columbia 292O4
2611 Forest Dr. 765-5345
GA., Atlanta 303O9
1365 Peachtree St., N.E. 881-7000
MASS., Boston O2116
441 Stuart St. 223-2312
N.Y., New York 10O07
26 Federal Plaza 264-0634
TENN., Memphis 3 8 1 0 3
147 Jefferson Ave. 521-3213
UTAH, Salt Lake City 84138
125 South State St, 524-5116
VA., Richmond 2 3 2 4 0
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WASH., Seattle 98109
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W. VA., Charleston 2 5 3 0 1
500 Quarrier St. 343-6181
WIS., Milwaukee 53202
517 E. Wisconsin Ave. 291-3473
WYO., Cheyenne 82001
2120 Capitol Ave. 778-2220
the BUSINESS SITUATION
LEAL GNP increased 1% percent at
R,
an annual rate in the fouith quarter of
factors may have contributed, to one
degree or another, to the decline in
motor vehicles, but concern over gaso1
1979. The increase was more than acline—its high and rising price and its
counted for by final sales; although inavailability—was certainly a major one.
ventories continued to accumulate, the
The increase in production exclusive
rate of accumulation was less than in
of motor vehicles was more than
the third quarter (chart 1 and table 1).
accounted for by final sales; inventory
Quarterly changes in real GNP were
accumulation in the fourth quarter of
erratic last year—perhaps partly due
1979 was less than in the fourth quarter
to errors in measurement, as suggested
of 1978. Within final sales exclusive of
by changes in the statistical discrepmotor vehicles, the fourth-to-fourthancy. As a result, it has been difficult to
quarter increase in personal consumpevaluate the underlying strength of the
tion expenditures (PCE) was 2% pereconomy by examining the quarterly
cent. However, PCE showed surprising
changes. A better view of the course of
strength in the second half of the year,
the economy over the year is obtained
when it increased 5 percent at an
by comparing the fourth quarter of 1979
annual rate. Business fixed investment
with the fourth quarter of 1978 (chart 2
showed a strong fourth-to-fourthand table 2). Over this period, real
quarter increase—7% percent. The
GNP increased less than 1 percent. At
quarterly increases were erratic—largely
1 percent, the rate of GNP growth was
due to the severe winter weather—but
well below the rate of growth of potenslowed in the second half of the year.
tial real GNP, which has been estiA slide in residential investment began
mated to be 2K-3 percent for 1979.
in the fourth quarter of 1978 and over
The major factor holding down real the following four quarters amounted
GNP growth was motor vehicle produc- to 8% percent. Net exports were up
tion, which declined 20 percent; real substantially; the improvement was
GNP exclusive of motor vehicle produc- more than accounted for by exports.
tion increased 2 percent. A variety of Government purchases changed little.
1. The fourth-quarter GNP estimates are based on the
Energy was another major factor last
following major data sources: For personal consumption
year.
The accompanying tabulation
expenditures (PCE), retail sales, and unit auto and truck
sales through December; for nonresidentialfixedinvestment, shows the energy components of real
the same information for autos and trucks as for PCE,
GNP for which separate estimates can
manufacturers' shipments of machinery and equipment for
October and November, October and November construcbe
made. These estimates are not comtion put in place, and investment plans for the quarter; for
residential investment, October and November construction prehensive, but are useful nevertheless
put in place, and housing starts for October and November;
because they show the order of magnifor change in business inventories, October and November
tude of these components of GNP and
book values for manufacturing and trade, and unit auto
inventories through December; for net exports of goods and of the changes in them. The dominant
services, October and November merchandise trade, and
component is PCE for energy, which
fragmentary information on investment income for the
quarter; for government purchases of goods and services, Feddeclined 6 percent in real terms from
eral unified budget outlays for October and November,
State and local construction put in place for October and
the fourth quarter of 1978 to the fourth
November, and State and local employment through Decemquarter of 1979. In the first quarter of
ber; and for GNP prices, the Consumer Price Index for
October and November, the Producer Price Index through
1979, PCE for energy increased subDecember, and unit value indexes for exports and imports
stantially,
reflecting unusually high exfor October and November. Some of these source data are
subject to revision.
penditures for home heating during the
CHART 1
Real Product:
Change From Preceding Quarter
Billion (1972) $
40 GROSS NATIONAL PRODUCT
30
20
10
20
liLLl- •
CHANGE IN BUSINESS INVENTORIES
-
10
•
0
-10
I
-?0
30
|
1"
PERSONAL CONSUMPTION EXPENDITURES
20
10
0
-10
20
FIXED INVESTMENT
10
M
0
-10
H
1
• • " - I - ,
Residential'"'
i
1977
-r-*t
"
*
^
1
1978
1979
Based on Seasonally A d j u s t e d Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
;
SUKVEY OF CUKKENT BUSINESS
January 1980
Table 1.—Gross National Product in Current and Constant Dollars, 1979
[Quarters at seasonally adjusted annual rates]
Current dollars
Constant (1972) dollars
Billions of dollars
Year
Gross national product
Final sales
I
III
II
IV
Percent change from preceding period
I
Year
II
III
IV
Year
I
II
III
IV
2,368.5
2,292.1
2,329.8
2,396.5
2,455.8
1,431.1
1,430.6
1,422.3
1,433.3
1,438.4
2.3
1.1
-2.3
3.1
1.4
2,350.2
2,272.9
2,296.4
2,381.9
2,449.5
1,421.0
1, 418. 4
1,404.1
1,426.2
1,435.2
2.6
1.1
-3.9
6.4
2.5
3.2
Change in business inventories
18.4
19.1
33.4
14.5
6.4
10.2
12.3
18.1
7.1
Less: Rest-of-the-world product .
25.2
24.2
23.7
26.9
26.1
7.9
8.9
8.1
8.0
6.7
-10.4
42.2
-32.5
-1.4
-52.5
2,343.3
2,267.9
2,306.1
2,369.5
2,429.7
1,423.2
1,421.7
1,414.2
1,425.3
1,431.7
2.3
.9
-2.1
3.2
1.8
Equals: Gross domestic product
[Billions of constant (1972) dollars, seasonally
adjusted at annual rates]
more normal levels, and, in addition,
expenditures for gasoline declined due
to shortages. Over the quarters since
the fourth quarter of 1978, the price of
energy has been an important factor in
the reduction of energy consumption.
Employment as measured by the
household survey increased 430,000 in
the fourth quarter (table 3). The increase in the labor force was somewhat
larger, and unemployment and the unemployment rate increased a little, the
latter by 0.1 percentage points to 5.9
percent. According to the establishment
survey, nonfarm payroll employment
increased 410,000. Employment in services and trade accounted for most of the
1979
1978
IV
PCE for energy l
I
II
III
57.5 59.8 55.3 54.5
IV
53.9
8.6
8.8
8,4
8.4
8.3
Federal Government purchases of fuel
.9
.9
.8
.7
.6
Change in business
inventories of energy 2
_ ...
.8 - . 6
.4
.4
.9
Petroleum imports .
1. Gasoline and oil, fuel oil and coal, electricity, and natural
gas.
2. Petroleum and coal products manufacturing, petroleum
and petroleum products wholesalers, and electric and gas
utilities.
severe winter weather. In the second
quarter, these expenditures returned to
increase. Employment in durables manufacturing was down; a large part of
the decline was in transportation equipment. The average workweek was up
0.1 to 35.7 hours; the manufacturing
workweek was unchanged.
From the fourth quarter of 1978 to
the fourth quarter of 1979, employment
increased 2.0 million according to the
household survey—a substantial increase although much less than the 3.5
million increase that had occurred over
the preceding four quarters. According
to the establishment survey, the 1979
employment increase was 2.4 million,
following a 3.9 million increase. During
1979, employment in manufacturing
Table 2.—Key Factors in Real GNP
Billions of constant (1972) dollars
Seasonally adjusted at annual rates
1978
IV
GNP
Less: Motor vehicles
GNP less motor vehicles
Final sales.
Less: Motor vehicles
Final sales less motor vehicles
PCE
Less: Motor vehicles.
PCE less motor vehicles
1979
I
II
III
IV
Percent change from preceding period
(quarters at annual rates)
Change
1978: IV- 1978: IV- 1979: I 1979: IV 1979: I 1979: I I
1979: I I - 1979:111- 1978: IV- 1978: I V - 1979: I 1979: III 1979: IV 1979: IV 1979: I 1979: I I
1979: I I - 1979:1111979: III 1979: IV
1,426.6 1,430.6 1,422.3 1,433.3 1,438.4
84.0
87.1
68.3
67.1
76.7
1,342.5 1,343.5 1,345.6 1,365.1 1,371.3
11.8
-16.9
28.8
4.0
3.1
1.0
-8.3
-10.4
2.1
11.0
-8.4
19.5
5.1
-1.2
6.2
0.8
-20.1
2.1
1.1
15.6
.3
-2.3
-40.0
.6
3.1
-37.2
5.9
1.4
-6.6
1.8
1,414.6 1,418.4 1,404.1 1,426.2 1,435.2
80.8
73.2
83.8
73.7
69.3
1,333.8 1,334.6 1,331.0 1,352.5 1,365.8
20.6
-11.5
32.0
3.8
3.0
.8
-14.3
-10.6
-3.6
22.1
.5
21.5
9.0
-4.4
13.3
1.5
-14.2
2.4
1.1
15.7
.2
-3.9
-41.8
-1.1
6.4
2.8
6.6
2.5
-21.6
4.0
920.3
54.3
866.1
921.8
54.8
867.0
915.0
48.3
866.7
925.9
48.1
877.9
935.2
46.6
888.6
14.9
-7.7
22.6
1.5
.5
.9
-6.8
-6.5
-.3
10.9
-.2
11.2
9.3
-1.5
10.7
1.6
-14.1
2.6
.6
3.8
.4
-2.9
-39.7
-.1
4.9
-1.8
5.2
4.1
-11.6
5.0
145.5
28.2
147.2
28.4
146.9
24.4
150.7
25.7
148.0
21.7
2.5
-6.5
1.7
.2
-.3
3.8
1.3
-2.7
-4.0
1.7
-22.9
4.8
3.3
-.8
-46.1
10.7
23.5
-6.9
-48.5
117.3
118.8
122.5
125.0
126.2
8.9
1.5
60.0
57.7
56.7
56.5
55.0
-5.0
-2.3
Net exports
.
Less: Motor vehicles
Net exports less motor vehicles
12.9
-3.8
16.6
17.0
-1.5
18.5
13.2
-1.4
14.6
20.1
-2.0
22.1
20.7
-.9
21.7
7.8
2.9
5.1
4.1
2.3
1.9
Exports
Less: Motor vehicles
Exports less motor vehicles
113.8
8.1
105.7
117.0
8.6
108.4
116.0
8.6
107.5
122.2
8.1
114.1
123.9
9.1
114.9
10.1
1.7
9.2
Imports
Less: Motor vehicles
Imports less motor vehicles
101.0
11.9
89.1
100.0
10.1
89.9
102.9
10.0
92.8
102.1
10.0
91.9
103.2
10.0
93.2
276.0
2.1
274.7
2.1
272.4
2.0
273.1
2.0
276.3
1.9
273.9
272.6
270.4
271.1
12.0
3.3
12.3
3.4
18.1
3.5
7.1
-5.7
8.7
8.9
14.6
12.8
.
Business fixed investment
Less: Motor vehicles
._
Business fixed investment less
motor vehicles
Residential investment. . . .
Government purchases __
Less: Motor vehicles
Government purchases less motor
vehicles .
Change in business inventories
Less: Motor vehicles
Change in business inventories less
motor vehicles
-4.0
2.4
1.2
7.7
5.2
13.3
8.3
4.1
-1.0
-3.8
.1
-3.9
-.2
-1.5
-8.3
-14.3
-7.2
-1.5
-9.8
6.9
-.6
7.5
.6
1.1
-.4
3.2
.5
2.7
-1.0
0
-.9
6.2
-.5
6.6
1.7
1.0
.8
8.9
12.0
8.7
11.5
28.4
10.3
-3.1
-1.3
-3.2
23.0
-18.4
26.9
5.8
52.5
2.9
2.2
-1.9
4.1
-1.0
-1.8
.8
2.9
-.1
2.9
-.8
.2
-.9
1.1
-.2
1.3
2.3
-15.5
4.6
-3.8
-47.2
3.5
12.1
-3.7
13.9
-2.9
6.0
-3.9
4.5
-5.5
5.7
.3
-.2
-1.3
0
-2.3
-.1
.7
0
3.2
-.1
-1.8
-.6
-3.3
-17.2
1.0
-3.6
4.7
-4.2
274.3
.4
-1.3
-2.2
.7
3.2
.1
-6.6
.2
-1.8
-3.2
1.0
4.8
3.2
-2.2
-8.8
-5.5
.3
.1
5.8
.1
-11.0
-9.2
-3.9
3.5
5.4
-3.3
.2
5.7
-1.8
-7.4
3.7
January 1980
SURVEY OF CURRENT BUSINESS
CHART 2
Real Product: Change, Fourth Quarter 1978 to Fourth Quarter 1979
Billion (1972)
0
GNP
Final sales
CBI
Motor Vehicle Production
Final Sales
CBI
Other Production
Final Sales
PCE
Business Fixed Investment
Residential Investment
Net Exports
Government Purchases
CBI
NOTE-PCE is personal consumption expenditures,and CBI is change in business inventories.
U.S. Department of Commerce, Bureau of Economic Analysis
and government increased very little1—
0. 1 and 0.2 million, respectively. Employment in construction was up
sharply—0.3 million—despite a decline
in construction activity; employment
and activity data in this industry are
often difficult to reconcile. Employment in the distributive and service
industries increased 0.7 and 1.0 million,
respectively.
Prices.—GNP prices as measured by
the fixed-weighted price index increased
10 percent at an annual rate in the
fourth quarter—about the same as in
the earlier quarters of the year (table 4).
About 0.8 percentage points of the
fourth-quarter increase was due to the
pay raise for Federal employees, which
is reflected in the index because it represents an increase in the prices of the
services of employees purchased by the
Federal Government. Excluding the
effect of the pay raise, prices increased a
little less than in the third quarter.
Prices paid by consumers and by
Table 3.—Selected Labor Market Indicators
[Seasonally adjusted]
IV
Change from preceding quarter
1979
1978
I
II
III
IV
1979:1
1979:11
1979:111
1979 :IV
Household Survey
0
0
0
0.9
.8
.1
0.5
.4
.1
0
0
0
-.3
0
0
0
.2
0
.2
-.1
.1
.1
0
.1
.._, 1
59.3
.3
-.2
.2
0
63.8
63.8
.2
-.2
.3
0
89.4
26.6
21.1
5.6
25.2
21.9
15.6
89.8
26.6
21.0
5.6
25.3
22.1
15.7
90.2
26.6
20.9
5.7
25.5
22.4
15.7
.9
.4
.3
.1
.3
.3
0
.6
.1
0
.1
.1
.3
.1
.4
0
— t
.2
.1
!i
.1
.4
0
-.1
.1
.2
.2
0
35.5
39.8
35.6
40.2
35.7
40.2
0
0
-.3
-.8
.1
.4
.1
0
101.5
95.7
5.9
102.3
96.4
5.9
102.4
96.5
5.9
103.2
97.2
6.0
103.7
97.7
6.1
0.8
.8
0
Unemployment rate (percent):
Total
Adult men
Adult women
Teenagers
5.8
4.0
5.7
16.2
5.8
4.0
5.7
15.9
5.8
4.0
5.7
16.1
5.8
4.2
5.6
16.2
5.9
4.2
5.7
16.1
Employment-population ratio
59.0
59.3
59.1
59.3
Civilian labor force participation rate
(percent) -
63.5
63.7
63.5
Employment, nonfarm payroll (millions)
Goods producing.
.
Manufacturing
Other.. . ! . . .
Distributive
Services 2
Government
87.8
26.1
20.8
5.3
24.8
21.4
15.5
88.7
26.5
21,0
5.5
25.1
21.6
15.5
Average weekly hours, private nonfarm:
Total
Manufacturing
35.8
40.6
35.8
40.6
Civilian labor force (millions)
Employment
Unemployment
Establishment Survey
1.Transportation and public utilities, and wholesale and retail trade.
2. Services, and finance, insurance, and real estate.
Source: Bureau of Labor Statistics.
SURVEY OF CURRENT BUSINESS
Table 4.—Fixed-Weighted Price Indexes, 1979
CHART 3
[Quarters are seasonally adjusted]
Nonfinancial Corporations:
Product, Productivity, Prices,
Costs, and Profits
Year
Gross national product
Less: Change
ventories
600
500
Percent change from preceding period
(quarters at seasonally adjusted
annual rate)
Index numbers (1972=100)
Billion $ (Ratio scale)
1,000
800
January 1980
In business
168.7
II
III
IV
162.8
166.6
170.6
174.7
Year
9.4
I
II
9.9
IV
III
9.5
10.0
9.9
in-
Equals: Final sales
Less: Exports
Plus: Imports
I
._
168.6
162.7
166.4
170.4
174.5
9.4
9.9
9.5
10.0
9.9
216.9
248.6
205.3
229.6
211.4
240.9
220.5
256.8
227.8
272.8
12.8
15.5
12.9
14.1
12,4
21.2
18.5
29.1
13.9
27.3
400
Equals : Final sales less exports plus
imports
170.8
164.4
168.5
172.9
177.6
9.7
10.1
10.3
11.0
11.2
300
Personal consumption expenditures. _ »
Food
Energy *
- .
Other personal
consumption
expenditures
166.2
179.2
243.8
160.0
175.8
207.9
163.9
178.5
231.4
168.4
179.5
262.3
172.7
183.1
278.4
9.6
10.0
26.6
11.0
17.6
19.5
10.3
6.3
53.5
11.3
2.3
65.2
10.6
8.4
27.0
155.2
151.0
153.5
156.4
159.8
7.3
7.9
6.7
7.8
9.0
Other
Nonresidential structures
Producers' durable equipment...
Residential
Government purchases
178.6
189.2
167.0
201.9
174.5
171.9
181.6
161.5
192.7
168.2
176.2
186.4
165.6
199.3
172.0
180.6
191.7
169.1
205.7
176.0
185.8
196.6
171.8
210.5
182.1
9.8
10.8
7.8
12.4
9.4
8.7
9.1
7.6
7.0
9.4
10.4
10.9
10.5
14.3
9.2
10.5
11.8
8.9
13.5
9.8
12.0
10.7
6.6
9.7
14.5
170.4
177.3
164.0
171.1
167.2
175.2
171.1
179.4
180.1
183.5
9.4
9.4
8.2
10.1
7.9
10.0
9.8
9.9
22.6
9.5
200
150
Profits
100
Federal
State and local
- -
80
1. Gasoline and oil, fuel oil and coal, electricity, and gas.
60
50
Dollars (Ratio scale)
Real Srass Product Per Hour
Compensation Per Hour
Dollars Per Unit (Ratio scale)
2.00
Price
1.50-
\
1.00
.80
.60
.50
.40
Noniabor Costs
.30
.20
.10
.08
1965 68
7~1
74
77
Data, BLS
1977 1978 1979
Quarters at Seasonally
A d j u s t e d A n n u a l Rates
U.S. Department of Commerce, Bureau of Economic Analysis
private investors in equipment and
structures (residential and nonresidential) both increased somewhat less in
the fourth quarter than in the third.
For PCE prices, a substantial deceleration in prices of PCE for energy
more than offset accelerations in the
prices of PCE for food and for other
goods and services. PCE energy prices
increased at an annual rate of 27 percent, compared with 65 percent in the
third quarter. Each of the PCE energy
categories—gasoline and oil, fuel oil
and coal, electricity, and natural gas—
decelerated, but the major factor was
the price of gasoline, which increased
34 percent, compared with about 75
percent in the second and third quarters. Two major factors contributed to
the deceleration in gasoline. First, most
of the July 1 OPEC price increase had
been passed through in the third quarter. Second, upward pressure on prices
had been reduced by the establishment
on August 1 by the Department of
Energy of a maximum allowable gross
margin on retail gasoline sales. The
maximum margin replaced the "banking" provision, which had allowed retailers to increase prices to compensate
for sales made when competitive conditions prevented them from passing
through increased costs. The effect of
these factors was partly offset by that
of several others. First, most individual
OPEC and non-OPEC countries increased prices in the fourth quarter.
Second, several kinds of actions put
upward pressure on oil prices: Prepayments for crude oil bought under contract were introduced and credit terms
were tightened by oil exporters; producers reduced exports; and supplies
were diverted to the spot market. Some
but not all of the effects of these two
factors were reflected in fourth-quarter
gasoline prices. Finally, gasoline supplies remained tight, as evidenced by a
contraseasonal fourth-quarter decline in
the average level of primary stocks—
that is, at refineries, in pipelines, and
at major bulk terminals. A U.S. embargo on Iranian oil was announced
November 12, but it had little effect on
fourth-quarter gasoline prices; preembargo oil was processed until late in the
quarter.
Table 5.—Real Gross Product, Hours, and
Compensation in the Business Economy
Other Than Farm and Housing, 1979
[Percent change from preceding period, quarters at annual
rates based on seasonally adjusted estimates]
III
IV
1.1
2.2
11.3
1.6
2.3
11.2
—1.2 —3.4 —4.4 - 1 . 1
8.9 10.3 7.9 8.9
10.3 14.2 12.8 10.2
—7
8.7
9.4
Year
Real gross product
Hours
C ompensation
Eeal gross
product
per hour
Compensation per hourUnit labor cost . .
2.3
3.5
12.8
I
II
LI - 3 . 8
.6
4.6
15.4 8.5
SUEVEY OF CURRENT BUSINESS
January 1980
Table 6.—Personal Income and Its Disposition
1979
1978
IV
I
II
Change
III
IV
1978: I V - 1978: IV1979: IV 1979: I
Seasonally adjusted at annual rates
1979: 1- 1979: I I - 1979: I I I 1979: I I 1979: I I I 1979: IV
Based on seasonally adjusted annual rates
Billions of dollars
Personal income
1,803.1 1,852.6 1,892.5 1,946.6 2,000.5
Less: Personal tax and
278.2
nontax payments
280.4
54.1
54.0
15.9
15.1
2.2
10.3
154.0
47.4
29.5
38.3
38.8
1, 453. 4 1, 493. 0 1,515.8 1, 569. 7 1,622.9
169.5
39.6
22.8
53.9
53.2
-15.6
7.7
6.7
-15.6
-14.4
71.5
85.9
79.2
321.7
39.9
43.5
Personal saving
306.6
49.5
Disposable personal income
.
1, 524. 8 1,572.2 1, 601. 7 1,640.0 1, 678. 8
Less: Personal outlays
290.7
197.4
70.3
55.9
Billions of 1972 dollars
Percent (seasonally adjusted at annual rates)
Disposable personal income
991.5
996.6
993.0
993.4
993.4
.2
2.1
-1.4
.2
Personal outlays * _
945.0
946.1
939.7
950.8
960.3
1.6
.5
-2.7
4.8
4.1
-1.1
-1.0
0
Percent (based on seasonally adjusted annual rates)
Personal saving rate
5.0
4.7
5.4
4.3
3.3
-1.4
.4
.3
1. Current-dollar personal outlays divided by the implicit price deflator for personal consumption expenditures.
Prices of PCE for food increased at beef, pork, and poultry had largely offan annual rate of 8% percent in the set increases in most other prices,
fourth quarter, up sharply from 2% including large increases in fresh fruits
percent in the third—the smallest in- and vegetables. Pork and poultry prices
crease in over 2 years. The acceleration had reflected record or near-record proreflected food consumed at home, which duction, and beef prices had reflected
increased 8 percent after little change consumer substitution of pork and
in the third quarter. The price of res- poultry for beef. In the fourth quarter,
taurant meals—which has a weight in there were no substantial offsets for the
the PCE food price index of only one- increases in beef, fresh vegetables,
third that of food consumed at home— dairy products, and bakery products.
decelerated slightly, from 8% percent Increased marketing costs—such as for
in the third quarter to 7% percent in labor, packaging, transportation, and
the fourth. For food consumed at home, energy—continued to be a major factor
third-quarter declines in the prices of in food price increases.
Cost-price relationships and profits.—
Further information on factors underlying price developments can be obtained from table 5, which covers the
business economy other than farm and
housing.2 Probably most interesting is
the continued poor performance of productivity. According to the measure
shown—real product per hour—productivity declined 1 percent in 1979, following several years of poor performance.
A substantial slowdown in productivity
growth occurred after 1973; in 1965-73,
productivity had increased about 2 percent yearly. Hourly compensation increased about 9 percent in 1979. In
combination with the decline in productivity, the increase in hourly compensation resulted in a very large
increase—10% percent—in unit labor
costs, which, in turn, continued to exert
upward pressure on prices.
It is difficult to explain the difference
between the 9-percent increase in hourly
compensation and the administration's
pay standard for 1979, which limited
the increase in hourly wages and private
fringe benefits to 7 percent; differences
in the pay measure used and in the
groups and time periods covered as well
2. The measure of real gross product in this table is, in
essence, derived as the sum of incomes, i.e., it excludes the
residual, which is the constant-dollar counterpart of the
statistical discrepancy. As a result, the quarterly changes in
real gross product shown in this table differ from those
measures of real gross product that are derived as the sum
of products, such as GNP. In 1979, the difference between
the two kinds of measures was particularly large in the
third quarter.
Table 7.—Personal Consumption Expenditures in Current and Constant Dollars, 1979
[Quarters at seasonally adjusted annual rates]
Constant (1972) dollars
Current dollars
Percent change from preceding period
Billions of dollars
Year
Personal consumption expenditures...
Motor vehicles and parts.
Other durables.
Nondurables.
Services
Energy 2
Other services
1 Gasoline and oil, and fuel oil and coal.
2. Electricity and gas.
II
III
IV
.
Year
I
II
III
IV
Year
I
II
III
IV
924.5
921.8
915.0
925.9
935.2
2.6
0.6
-2.9
4.9
4.1
212.8
213.8
208.7
213.4
215.5
147.0
150.2
144.8
146.9
146.0
.2
-5.0
-13.6
5.8
-2.3
91.3
121.5
97.7
116.1
89.1
119.6
89.8
123.6
88.6
126.9
58.5
88.5
64.0
86.2
-6.7
5.3
1.6
-9.6
-36.5
7,1
.2
9.6
-8.4
1.7
571.1
581.2
604.7
631.0
349.3
348.1
57.1
89.7
349.2
55.9
90.1
597.0
57.1
87.7
344.1
356.0
1.8
-4.2
-4.5
6.1
8.0
301.9
83.3
211.7
292.9
73.8
204.4
296.7
77.5
207.1
303.1
88.7
212.9
315.1
93.4
222.5
168.9
31.9
148.6
167.2
34.6
146.2
166.7
31.5
145.9
169.3
31.0
148.9
172.4
30.5
153.2
1.1
-4.8
4.1
-3.3
3.8
-7.1
-1.2
-31.6
-.8
6.4
-6.0
8.3
7.4
-6.5
12.0
700.0
669.3
686.0
710.6
733.9
428.2
423.5
426.1
429.9
433.2
4.2
7.1
2.5
3.6
3.2
37.6
5.4
-19.3
4.0
-5.3
4.1
—1.9
3.5
1,509.8 1,454.2 1,475.9 1,528.6 1,580.4
Durab les
Food...
Energy *
Other nondurables
I
48.8
651.2
47.7
621.6
47.3
638.7
49.6
660.9
50.5
683.4
24.0
404.2
25.2
398.4
23.8
402.3
23.5
406.4
23.4
409.8
3.5
4.3
SUEVEY OF CUEEENT BUSINESS
6
January 1980
Table 8.—Fixed Investment in Current and Constant Dollars, 1979
[Quarters at seasonally adjusted annual rates]
Current dollars
Constant (1972) dollars
Billions of dollars
Fixed investment
-
-
Nonresidential
Structures
- -- - - Producers' durable equipment
Autos trucks, and buses.
Other
.
Residential
Year
I
II
III
367.8
354.6
361.9
377.8
253.9
92.3
161.6
39.2
122.4
243.4
84.9
158.5
42.7
115.8
249.1
90.5
158.6
38.1
120.5
261.8
95.0
166.7
41.1
125.7
113.9
111.2
112.9
116.0
- -
as some lack of compliance were probably involved. However, it is likely that
the proposed pay standard for 1980,
which establishes a 7K-9K-percent
range, is compatible with some step-up
in the increase in hourly compensation.
Similar measures of productivity,
hourly compensation, and unit costs for
nonfinancial corporations make it possible to throw some light on recent
developments in corporate profits (with
inventory valuation and capital consumption adjustments). Chart 3 shows
that unit profits flattened in 1979,
following increases from their cyclical
low in 1974. However, with a further
increase in real product, total profits
were higher in 1979 than in 1978,
although the 1979 increase was smaller.
1 IV
i
Percent change from preceding period
Year
I
II
III
IV
376.9
204.6
204.9
203.5
207.1
203.0
261.3
98.7
162.6
35.0
127.7
148.2
47.9
100.3
25.1
75.2
147.2
45.8
101.3
28.4
72.9
146.9
47.9
99.0
24.4
74.6
150.7
48.7
101.9
25.7
76.3
148.0
49.3
98.7
21.7
77.0
115.6
56.5
57.7
56.7
56.5
55.0
-6.1
[Billions of dollars; based on seasonally adjusted
annual rates]
Change from
preceding quarter
1979:111
Personal income _
Wage and salary disbursements
54.1
54.0
25.7
32.0
3.4
3.2
8.3
8.5
6.7
2.9
8.2
8.7
2.4
5.6
Manufacturing
. .
Other commodity producing
Distributive
Services
Government and government enterprises
Proprietors' income
Farm
Nonfarm
1979:IV
1.0
1.2
-2.9
3.9
-1.4
2.6
Transfer payments
17.2
5.9
Other income
11.5
16.6
1.4
1.8
Less: Contributions for social insurance
Personal income and its disposition
tion).3 Wage and salary disbursements
increased substantially more in the
fourth quarter than in the third. In
manufacturing, the fourth-quarter in-
Personal income increased $54 billion
in the fourth quarter, the same as in the
third (see the accompanying tabula-
3. Quarterly estimates of the national income and product
accounts are expressed at seasonally adjusted annual rates,
and quarterly changes in them are differences between these
rates.
I
II
2.2
-1.0
—2.7
7.2
—7.7
5.8
9.1
4.2
—9.0
9.5
4.8
—5.6
10.1
3.3
12.8
—.8
19.0
—8.9
—46.1
9.8
10.7
7.1
12.5
23.5
9.0
—6.9
4.7
—12.1
—48.5
3.7
—14.3
—7.2
—1.5
-9.8
Year
III
IV
crease was mainly due to hourly earnings; aggregate hours changed little. In
other private industries, both aggregate
hours and hourly earnings increased. In
government, $3K billion of the fourthquarter increase was due to the pay
raise for Federal employees.
Farm proprietors' income declined
in the fourth quarter, as it had in the
second and in the third. In the fourth
quarter, cash receipts from marketings
were down, and expenses increased due
to the higher costs of a variety of items
used in production. The decline in
marketings was mainly due to crops,
for which prices declined; livestock
marketings were unchanged, as a decline
in volume was about offset by an increase in prices. In transfer payments,
an $11% billion deceleration reflected
the third-quarter cost-of-living increases in benefits paid under social
security and several other Federal programs. Personal interest income, which
is included in "other income" in the
tabulation, increased much more than
Table 9.—Net Exports of Goods and Services in Current and Constant Dollars, 1979
[Quarters at seasonally adjusted annual rates]
Constant (1972) dollars
Current dollars
Percent change from preceding period
Billions of dollars
Year
Net exports of goods and services...
Exports.. ._
.
Merchandise
Agricultural
Nonagricultural
Other
Imports
Merchandise
Petroleum
Nonpetroleum
Other
_
_
I
II
III
IV
Year
I
II
III
IV
Year
I
II
III
IV
-3.5
4.0
-8.1
-2.3
-7.7
17.7
17.0
13.2
20.1
20.7
257.4
177.0
35.3
141.7
80.4
238.5
163.0
30.6
132.4
75.5
243.7
166.8
30.9
135.9
76.9
267.3
184.6
38.4
146.1
82.7
280.0
193.4
41.2
152.2
86.6
119.8
84.0
15.8
68.2
35.8
117.0
80.8
14.4
66.4
36.2
116.0
80.5
14.3
66.2
35.6
122.2
86.5
16.7
69.7
35.7
123.9
88.2
17.8
70.3
35.8
10.0
12.1
3.5
14.3
5.4
11.5
10.1
-24.8
20.2
14.8
-3.1
-1.7
-2.8
-1.4
-6.3
23.0
33.2
88.2
23.1
2.0
5.8
8.2
29.0
3.6
.3
260.9
208.0
59.5
148.6
52.9
234.4
186.0
46.6
139.5
48.4
251.9
200.4
51.6
148.8
51.4
269.5
215.9
66.5
149.5
53.6
287.7
229.7
73.2
156.5
58.0
102.0
76.2
8.5
67.7
25.8
100.0
75.1
8.8
66.3
24.9
102.9
77.2
8.4
68.8
25.7
102.1
76.3
8.4
67.8
25.8
103.2
76.3
8.3
68.0
27.0
4.2
1.7
0
1.9
12.4
-3.8
-7.6
9.8
-9.6
8.7
12.1
11.8
-17.4
16.2
12.9
-2.9
-4.8
.6
-5.4
2.7
4.5
0
-6.1
.7
19.0
SUEVEY OF CUEEENT BUSINESS
January 1980
CHART 5
CHART 4
Retail Sales of New Passenger Cars
Million units (ratio scale)
15FTOTAL
———
Housing Starts
Millions of units
2.5
2.0
Total
10
1.5
9
8
1.0
SALES 8Y D0«£$TIC SHE pTISORIf « * 0 IMPORTS
Multifamily
0 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 1 I I I I I > I 1I I I I I I I I
1975
1976
1977
1978
1979
Seasonally Adjusted at Annual Rates
Data: Census
U.S. Department of Commerce, Bureau of Economic Analysis
in disposable income, personal saving
declined (about $14 billion). The personal saving rate dropped from its 5.4
percent 1979 high in the second quarter
to 4.3 percent in the third and to an
extraordinary low of 3.3 percent in the
fourth (table 6). Over the 4 quarters
since the fourth quarter of 1978, the
saving rate fell 1.4 percentage points. In
real terms, this fall was mirrored in an
increase in spending of IK percent and
no change in disposable income.
Real PCE.—The increase in real
PCE was substantial in the fourth
quarter as well as in the third (table 7).
t i f f i j t I , i i I
J_
The bulk of a deceleration from an
1972 73 74 75 76 77 78 79
annual rate of 5 percent in the third
Seasonally Adjusted at Annual Rates
quarter to 4 percent in the fourth was
Note.-The components may not add to the total because each category was
separately adjusted for seasonal variation.
due to motor vehicles. Among the nonData: Motor Vehicle Manufacturers Association of the United States, Inc. and
vehicle
components shown in the table,
Ward's Automotive Reports; seasonal adjustment by BEA.
U.S. Department of Commerce, Bureau of Economic Analysis
...
only PCE for energy declined. As in the
third quarter, all other components
in the third quarter. The step-up was increased; combined, they increased
largely due to higher interest rates on strongly in both quarters.
U.S. assets held by persons.
PCE for motor vehicles declined 8%
As was the case for personal income, percent at an annual rate after no
the fourth-quarter change was about change in the third quarter. Most of the
the same as the third-quarter change decline was due to new car purchases.
for personal taxes (in the fourth quarter, In terms of unit sales of passenger cars,
$15 billion), and thus for disposable which are sales not only to consumers
personal income ($39 billion), and for but also to business and other final
personal outlays ($53 billion). Because users, the decline was from 10.8 million
the changes in outlays exceeded those (seasonally adjusted annual rate) in the
so-i-s
third quarter to 9.9 million in the fourth.
All of the decline was in sales of domestic cars, which fell from 8.6 million to
7.5 million. Sales of imports increased
0.2 to 2.4 million, and reached a record
24 percent of total unit sales.
The pattern of sales of domestic cars
differed somewhat among size categories (chart 4). Intermediate car sales
dropped from 2.8 million in the third
quarter to 2.2 million in the fourth.
Full-size car sales were also off sharply,
from 2.2 million to 1.9 million. In the
third quarter, sales of these large cars
had been boosted by extensive dealer
incentive and consumer rebate programs. These programs were discontinued in October and reinstated in
November, but sales did not pick up,
indicating that some third-quarter sales
had been "borrowed" from the fourth.
Small car sales, in contrast, were down
only slightly in the fourth quarter, from
3.6 million to 3.5 million. Together,
domestic small cars and imports accounted for 59 percent of total unit
sales, up from 54 percent in the third
quarter.
Investment
Heal nonresidential fixed investment
declined 7 percent at an annual rate,
after increasing 10^ percent in the third
SURVEY OF CURRENT BUSINESS
8
quarter (table 8). The swing was largely
in motor vehicles. In the third quarter,
sales of motor vehicles had increased,
due to autos. In the fourth quarter,
sales of both autos and trucks declined.
Other nonresidential fixed investment
increased less in the fourth quarter than
in the third. A weakening in this investment in the second half of the year was
due to the equipment component.
Real residential investment declined
10 percent at an annual rate in the
fourth quarter. Declines had been
registered in each quarter of the year.
However, earlier declines had been
smaller except in the first quarter, when
the weather adversely affected construction activity.
At 1.60 million units (seasonally
adjusted annual rate), housing starts
Selected Interest Rates
Percent
16
SHORT TERM
14
12
10
1-month Jmwty i»HI$
M i l l i I U ' M l l I f i l l M M I '1:111 t 1 I t I M I 1 t i I I I 1 1 M I i 1 1 1
MORTGAGES FOR NEW HOUSES
12
10
\
Conventional loans
were 12K percent below the third
quarter and about 20 percent below the
2 million plateau in 1977 and 1978
(chart 5). Both single-family and multifamily starts contributed to the decline
in October and November. In December, a further drop in multifamily
starts was offset by a pick-up in singlefamily starts.
High and rising interest rates have
been a major factor in the recent
CHART 6 weakening of starts. Mortgage interest
rates had moved up throughout the
year, and following the Federal Reserve Board's credit-tightening actions
on October 6, the full spectrum of
interest rates increased sharply.4 The
prime rate, to which the interest rate
on construction loans is tied, reached a
record 15.75 percent before falling to
15.25 percent at the end of year (chart 6).
The average interest rate on commitments for conventional new home mortgages increased over 100 basis points
from about 11 percent in the third
quarter. This record increase brought
interest rates to levels approaching or
exceeding usury ceilings in some States.
At the end of the year, 14 States had
fixed usury ceilings at or below 12
percent. However, Federal legislation
enacted at the end of the year allows
banks and other mortgage loan originators to make residential mortgage
loans at rates exceeding a State's usury
ceiling through March 31, 1980.
The slowing of savingsflowsinto thrift
institutions—savings and loan associations and mutual savings banks—was
another factor contributing to the weakness
in residential investment. Inflows
I til I Ml 1
of net new money, that is, new deposits
received minus withdrawals and interest, slowed over the year, and in October and November there were small
net outflows. As net inflows slackened,
thrifts relied increasingly on alternative
sources of funds to mitigate the impact
of the slackening inflows on the extension of mortgage credit. The alternative
sources included advances from the
Federal Home Loan Bank Board, sales
I I I 1 I I M I I t I I I t t lit I i M I M M I i t III I I I I M I I { I I M I I I I I I I i M I i
1975
1976
1977
1978
1979
e end of the month.
Data. FRB, FHLBB
U.S. Department of Commerce, Bureau of Economic Analysis
80-1-6
8
January 1980
« On that date, the Federal Reserve Board announced
three actions designed to curb inflation: (1) an increase in the
discount rate, from 11 percent to a record 12 percent; (2)
establishment of marginal reserve requirements on increases
in "managed liabilities"; and (3) a change to place greater
emphasis in day-to-day operations on the supply of bank
reserves and less on the Federal funds rate.
January 1980
of mortgages in the secondary market,
and increases in other borrowings (which
include issues of mortgage-backed
bonds). Nevertheless, mortgage commitments have receded since their peak
in the fourth quarter of 1978; an extraordinarily large decline—$3 billion—
occurred in November.
Real inventory investment was less
in the fourth quarter than in the third—
$3 billion, compared with $7 billion.
Inventories other than motor vehicles
more than accounted for this decline;
motor vehicle inventories continued to
be reduced in the fourth quarter, but
at a lower rate than in the third. Inventories of domestic cars, in terms of
units, fell to 1,591,000 (seasonally adjusted) from 1,693,000 at the end of the
third quarter. Carryover of 1979 models
continued to be a larger than normal
portion of car inventories. Despite the
reduction in inventories, the inventorysales ratio for domestic cars increased
from 2.35 in the third quarter to 2.54—
well above the 2.0 considered normal.
The decline in the rate of investment
in inventories other than motor vehicles
is traceable to swings from accumulation to decumulation in manufacturing
nondurables and trade durables. As
usual, it is difficult to interpret inventory movements, because they are often
erratic and because source data are
inadequate.
Chart 7 provides a broader view of
inventory developments by relating
inventories to total business final sales
and to business final sales of goods and
structures. Analytical use of the former
relationship implies that the production
of services results in a demand for
inventories that is similar to that
generated by the production of goods
and structures. Use of the latter implies that the production of services
does not generate demand for inventories. Both implications are extremes.
In 1978, both ratios declined. The
levels to which they fell in the fourth
quarter were, respectively, below 1968
and above 1968, a period that is often
considered normal. In the first and
second quarters of 1979, the ratios increased substantially, as inventories
increased while final sales were flat or
declined. In the third and fourth
quarters, as final sales increased
SUEVEY OF CUEEENT BUSINESS
9
CHART 7
Constant-Dollar Business Inventories, Final Sales and Final
Sales of Goods and Structures, and Inventory-Sales Ratios
340
4979-1
320
8
o>
1975J
300
280
£
1977-1
N973-1
260
240
I
220
850
900
J_
950
1000
1050
1100
1150
1200
1250
I
850
900
Final Sales, Billions of 1972$
340
320
300
I
1975-1
280
I
o
-£
260
240
220
500
550
I
600
650
700
750
800
Final Sales of Goods and Structures, Billions of 1972$
Note.-End-of-quarter inventories, seasonally adjusted; final sales seasonally adjusted at annual rates. Blue lines represent ratios of inventory stocks to final sales.
U.S. Department of Commerce, Bureau of Economic Analysis
g^
SUEVEY OF CUEEENT BUSINESS
10
January 1980
(table 9). The deceleration was largely
in
merchandise trade. Exports—both
.
Real net ex orts
agricultural
and nonagricultural—inP
Creased much less
creased
much
less than in the third
in the fourth quarter than in the t h i r d quarter.
Third-quarter
exports had in$K billion, compared with $7 billion
cluded unusually large shipments of
CHART 8 grain and soybeans to Eastern Europe,
and of aircraft. Imports of merchandise
were flat after having declined in the
Merchandise Trade
third quarter, and thus contributed to
Constant (1972) Dollars
Current Dollars
the deceleration, as did imports of
Billion$
BillionS
services,
which increased sharply in the
50
50
I BALANCE
fourth quarter. The step-up in services
reflected travel and investment income
payments.
Chart 8 shows that the improvement
in the real merchandise trade balance
over the last 2 years was largely due to
-501 i i i I i i i I i i i I i i i I i i i I I i i i I i i i I i i i I i i i I i i i I -50 increases in exports. The improvement
reflected changes in the cyclical posi200
200
tion of the United States and its trading
partners, the depreciation of the dollar,
and the decline in petroleum imports
that followed the opening of the Alaskan
pipeline.
strongly and additions to inventories
were substantially smaller than earlier
in the year, the ratios fell back about
one-half the distance to their fourthquarter 1978 lows.
^Ve* exports
Government sector
- 100
100
- 50
50 -
01 t i i ..I... i. I it t t i l
1975
1976 1977
i t it t tr
1978 1979
i i i l l It i
1975
1976
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau Economic Analysis
i i i I i i. r i i i i 10
1977
1978
1979
Real government purchases increased
more in the fourth quarter than in the
third—4K percent at an annual rate,
compared with 1 percent (table 10).
State and local purchases changed little
after a 3-percent increase in the third
quarter. The step-up was in Federal
purchases, and was more than accounted for by the Commodity Credit
Corporation's agricultural price support
operations. In the third quarter, loan
redemptions, which are treated as negative Government purchases in the
national income and product accounts
(NIPA's), had been unusually large as
farmers, in response to higher market
prices, withdrew crops—especially corn
and wheat—previously placed under
loan. Redemptions continued in the
fourth quarter, but at a much lower
rate than in the third.
NIP A Federal sector—Table 11 is
in current dollars and rounds out the
information on Federal receipts and
expenditures. Expenditures increased
$20K billion, compared with $23 billion
in the third quarter. Purchases increased more than in the third quarter.
The acceleration reflected the operations of the Commodity Credit Corporation, which in current dollars showed
SUEVEY OF CURRENT BUSINESS
January 1980
11
Table 10.—Government Purchases of Goods and Services in Current and Constant Dollars, 1979
[Quarters at seasonally adjusted annual rates]
Current dollars
Constant (1972) doUars
Billions of dollars
Government purchases of goods and services
Federal. .
. —
National defense
Nondefense
State and local
-
-- _ - - -
Percent change from preceding period
Year
I
II
III
IV
Year
I
II
III
IV
476.1
460.1
466.6
477.8
499.8
274.1
274.7
272.4
273.1
276.3
0.3
-1.8
177.0
114.6
62.4
99.2
101.1
98.1
97.4
100.4
.7
7.2
322.8
174.9
173.6
174.3
175.6
175.9
.2
-6.6
166.3
108.3
58.0
163.6
103.4
60.2
161.7
106.0
55.7
162.9
109.0
53.9
309.8
296.5
304.9
314.9
a swing of $10 billion, and the $3%
billion pay raise. Other expenditures
more than offset the step-up in purchases. The largest deceleration was in
transfer payments, which in the third
quarter had been raised by cost-ofliving increases that amounted to $11K
billion. Receipts will increase about as
much as in the third quarter, as a somewhat larger increase in personal taxes
is likely to offset a smaller increase in
corporate profit tax accruals, for which
reliable estimates are not yet available.
As a result of these changes in expenditures and receipts, the Federal deficit
on a NIPA basis is likely to remain close
to the $11^ billion registered in the
third quarter.
Year
I
II
-3.3
-11.3
1.6
III
IV
1.0
4.7
-2.6
12.6
3.1
.6
will amount to about $10 billion, is the ber and December, business plans to
result of overwithholding in 1979 that increase real capital spending only 1-2
stemmed from the incorrect adjustment percent in 1980. Moreover, if 1980 is
of withholding schedules to the re- separated into two halves by deducting
duction of liabilities provided in the planned spending for the first half
Revenue Act of 1978. This support (obtained from a survey in October and
to disposable income will tend to November) from planned spending for
strengthen PCE. Reference has already the year as a whole, it appears that the
been made to forces, which may be deceleration will continue through the
important quantitatively, that will year.
work in the opposite direction. Real
It seems likely that the full impact on
disposable income has not increased residential investment of the credit
over the last year, and the increase in tightening initiated in October 1979 has
real spending has required a fall in the not yet been felt. Despite the attempts
personal saving rate to an extraor- by Government and financial institudinarily low level.
tions to mitigate the effects of the credit
Fixed investment.—As noted earlier, tightening on housing, housing starts
nonresidential fixed investment tended and construction will probably conto decelerate in the second half of last tinue down in the first half of 1980.
Yearend position and outlook
year. It would appear from BEA's
Net exports and government.—The two
plant and equipment survey, which is remaining components of final sales—
It became increasingly clear in the
reviewed later in this issue, that this net exports and government purcourse of last year—in connection,
tendency will extend into 1980. On the chases—are most directly affected by
first, with OPEC's oil price increase
basis of information obtained in Novem(Continued on page 44)
and later with events in Iran and
Afghanistan—that decisionmaking that
Table 11.—Federal Government Receipts and Expenditures, NIPA Basis
was influenced by political and military
[Billions of dollars]
considerations had an unsually large
impact on economic developments. It
Change
Seasonally adjusted at annual rates
is probable that the situation will be
similar in 1980. Assessment of the
1979
1979
1978
economic outlook in such an environIV
III
I
II
I
II
IV
III
IV
ment is difficult. The assessment that
follows, which is built around the
19.0
n.a.
n.a.
Receipts.
11.5
10.8
463.5 475.0 485.8 504.8
major GNP demand components and Personal tax and nontax receipts
10.4
12.9
2.0
11.8
211.0 213.0 223.4 235.2 248.1
-2.3
n.a.
Corporate profits tax accruals.
-4.0
4.5
74.9
79.4
n.a.
77.2
81.2
the major price elements discussed Indirect
.5
.7
business tax and nontax accruals
.1
.1
29.9
30.0
30.7
29.4
29.3
2.0
4.0
13.5
2.7
157.5 160.2
164.2
142.0 155.5
earlier, will be little more than a check- Contributions for social insurance
20.3
Expenditures
536.4
23.2
7.1
6.1
479.7 486.8 492.9 516.1
list designed to be helpful in thinking
1.2
14.1
-1.9
of goods and services.
177.0
4.6
163.6 161.7
162.9
159.0
about unfolding economic develop- Purchases
National defense
3.0
5.6
2.6
114.6
2.2
103.4 106.0
109.0
101.2
-1.8
8.5
-4.5
Nondefense
62.4
2.4
60.2
53.9
57.8
55.7
ments.
15.7
4.3
5.1
221.9
4.7
217.6
Transfer payments
192.1 196.8 201.9
4.1
1.2
-.1
83.0
-2.9
77.8
81.8
Grants-in-aid to State and local governments. _. 80.7
77.7
.9
2.5
2.6
PCE.—Personal taxes will be held Net interest paid . _
46.0
2.9
40.0
43.5
37.1
42.6
Subsidies less current surplus of government
-1.8
enterprise
.7
1.2
-2.6
8.3
9.0
10.2
8.4
10.9
down, and thus disposable personal Less:
0
0
0
.2
Wage accruals less disbursements
0
-.2
0
-.2
0
income supported, in 1980 by an inSurplus or deficit ( - ) , national income
n.a.
4.7
-4.3
and product accounts...
n.a.
-11.7
-11.3
-16.3
-7.0
4.6
crease in Federal personal income tax
refunds. This increase in refunds, which
n.a. Not available.
SURVEY OF CURRENT BUSINESS
12
January 1980
NATIONAL INCOME AND PRODUCT TABLES
1978
1978
1979 P
III
1979
IV
I
II
1978
III
IV P
1978
1979 P
Seasonally adjusted at annual rates
III
1979
IV
I
III
II
IV
P
Seasonally adjusted at annual rates
Billions of current dollars
Billions of 1972 dollars
Table 1.— Gross National Product in Current and Constant Dollars (1.1, 1.2)
Gross national product
_
Durable goods
Non durable goods
Services
_ .
Gross private domestic investment
_ _
Fixed investment
Nonresidential
_
. _
Structures.
Producers' durable equipment
[Residential
. . ._
Nonfarm structures
Farm structures
Producers' durable equipment
Change in business inventories
Nonfann
Farm.. .
. . .
2,127.6 2,368.5 2,159.6 2,235.2 2,292.1 2, 329. 8 2,396.5 2,455.8 1,399.2 1,431.1 1, 407. 3 1,426.6 1,430.6 1, 422. 3 1,433.3 1,438.4
900.8 924.5 905.3 920.3 921.8
915.0
925.9 935.2
208.7 213.4 215.5 146.7
200.3 212.8 203.5 212.1 213.8
147.0
147.5
152.1 150.2
144.8
146.9 146.0
604.7 631.0 343.3 349.3 344.7 351.9
558.1 571.1 581.2
597.0 536.7
530.6
348.1 344.1
349.2 356.0
710.6 733.9 410.8 428.2 413.1 416.3 423.5 426.1
700.0 629.1 645.1 669.3 686.0
__ 619.8
429.9 433.2
395.4
392.3 383.3 214.3 214.8
356.2 370.5 373.8
351.5 386.2
214.0
217.4 217.2
221.7
214.2 206.2
361.9
377.8 376.9
354.6
329.1 367.8 336.1 349.8
200.2 204.6 201.8
203.5
205.5
207.1 203.0
204.9
- - .- 1,350.8 1,509.8 1, 369. 3 1,415.4 1,454.2 1, 475. 9 1,528.6 1,580.4
Personal consumption expenditures
... ._
__ _. .
221.1
76.5
144.6
253.9
92.3
161.6
225.9
79.7
146.3
236.1
84.4
151.8
243.4
84.9
158.5
249.1
90.5
158.6
261.8
95.0
166.7
261.3
98.7
162.6
140.1
43.9
96.2
148.2
47.9
100.3
141.6
45.1
96.5
145.5
46.5
98.9
147.2
45.8
101.3
146.9
47.9
99.0
150.7
48.7
101.9
148.0
49.3
98.7
108.0
104.4
1.8
1.9
113.9
110.0
1.9
2.0
110.2
106.4
1.9
1.9
113.7
110.0
1.9
1.9
111.2
107.8
1.5
1.9
112.9
109.1
1.8
2.0
116.0
112.0
2.0
2.0
115.6
111.2
2.3
2.1
60.1
57.7
1.0
1.4
56.5
54.1
.9
1.4
60.2
57.7
1.0
60.0
57.6
1.0
57.7
55.6
.8
56.7
54.4
.9
56.5
54.0
1.0
55.0
52.5
1.1
1.5
22.3
21.3
1.1
18.4
16.6
1.8
20.0
18.5
1.6
20.6
19.3
1.3
19.1
18.8
.3
33.4
32.6
.8
14.5
12.6
1.9
6.4
2.3
4.1
14.1
13.7
.3
10.2
9.2
.9
12.2
11.6
.6
12.0
11.5
.5
12.3
12.1
.2
18.1
17.7
.4
7.1
6.1
1.0
3.2
1.1
2.1
-10.3
-3.5
-6.8
-4.5
4.0
-8.1
-2.3
-7.7
11.0
17.7
13.3
12.9
17.0
13.2
20.1
20.7
.
207.2
217.5
257.4
260.9
213.8
220.6
224.9
229.4
238.5
234.4
243.7
251.9
267.3
269.5
108.9
97.9
119.8
102.0
111.9
98.5
113.8
101.0
117.0
100.0
116.0
102.9
122.2
102.1
123.9
103.2
Government purchases of goods and services
435.6
476.1
440.9
453.8
460.1
466.6
477.8
280.0
287.7
499.8
273.2
274.1
274.7
276.0
274.7
272.4
273.1
276.3
152.6
99.0
53.6
283.0
166.3
108.3
58.0
309.8
152.3
99.0
53.3
288.6
159.0
101.2
57.8
294.8
163.6
103.4
60.2
296.5
161.7
106.0
55.7
304.9
162.9
109.0
53.9
314.9
177.0
114.6
62.4
322.8
98.6
99.2
98.5
99.3
101.1
98.1
97.4
100.4
174.6
174.9
176.2
176.6
173.6
174.3
175.6
175.9
Net exports of goods and services
Exports
Imports
Federal .
National defense
Nondefense
State and local
. .
Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
2, 127. 6 2,368.5 2, 159. 6 2, 235. 2 2, 292. 1 2, 329. 8 2,396.5 2,455.8 1, 399. 2 1 ,431 .1 1, 407. 3 1,426.6 1,430.6 1, 422. 3 1, 433. ' 1,438.4
Gross national product
2, 105.. 2 2, 350. 2 2, 139. 5 2,214.5 2,272.9 2, 296. 4 2,381.9 2, 449. 5 1,385.1 1, 421. 0 1,395.1 1,414.6 1,418.4 1,404.1 1,426.1 1, 435. 2
22.3
14.5
6.4
33.4
14.1
12.2
12.3
7.1
3.2
20.6
19.1
10.2
12.0
18.1
20.0
18.4
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
.
930 0 1 030.5
940.9
983.8 1 011.8 1, 018. 1 1, 036. 0 1,056.2
639.5
652.9
641.8
657.3
658.6
647.3
651.3
654.5
907.7 1, 012. 2
22.3
18.4
920.8
20.0
963.2
20.6
992.7
19.1
984.6 1,021.5 1, 049. 9
14.5
33.4
6.4
625.4
14.1
642.8
10.2
629.6
12.2
645.3
12.0
646.3
12.3
629.1
18.1
644.2
7.1
651.3
3.2
380.4
366 5
13.9
423.3
409 7
13.7
382.6
372.3
10.3
402.3
388.9
13.4
425.5
407.1
18.4
422.4
398.0
24.3
424.4
417.1
7.3
421.0
416.4
4.6
270.0
261.4
8.6
278.3
270.7
7.6
269.9
263.6
6.3
279.1
270.6
8.5
286.0
275.2
10.8
278.3
265.1
13.2
276.6
272.9
3.7
272.2
269.5
2.7
549.6
541.2
8.4
607.2
602 5
4.7
558.3
548.6
9.7
581.6
574.3
7.2
586.2
585.5
.7
595 7
586 6
9.1
611.6
604.4
7.2
635.2
633.4
1.8
369.4
364.0
5.5
374.7
372.1
2.6
372.0
366.0
5.9
378.2
374.7
3.5
372.6
371.2
1.4
369.0
364.1
4.9
374.7
371.3
3.4
382.4
381.8
.5
981.7 1,005.3 1, 041. 4 1, 064. 2 1,100.6 1,135.0
237.0 246.0 238.9
247.5 259.8 264.6
630.3
129.5
649.8
128.4
633.1
132.4
636.0
133.3
645.2
126.8
647.3
127.7
652.0
130.0
654.7
129.2
969.3 1,085.3
228.2 252.7
Services
Structures
Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product
Gross domestic product
_
Business
Nonfann
Nonfann less housing
Housing
Farm
Statistical discrepancy
Kesiduali
Households and institutions
Government
Federal
State and local..
Rest of the world
p Preliminary.
2,127.6 2,368.5 2,159.6 2,235.2 2,292.1 2, 329. 8 2,396.5 2,455.8 1,399.2 1,431.1 1,407.3 1,426.6 1,430.6 1,422.3 1,433.3 1,438.4
2,107.0 2,343.3 2,138.9 2,213.9 2,267.9 2, 306. 1 2,369.5 2,429.7 1,391.1 1,423.2 1,399.2 1,418.4 1,421.7 1, 414. 2 1,425.3 1,431.7
1,807.8 2,017.7 1,837.6 1,904.9 1,951.4 1,984.5 2,042.0 2,092.8 1, 197. 5 1, 227. 7 1,205.1 1, 223. 9 1, 226. 9 1, 219. 0 1,229.3 1,235.8
1,160.0 1, 190. 7 1, 169. 1 1, 188. 0 1, 193. 1 1, 184. 7 1, 189. 4 1, 195. 5
1,745.0 1,944.2 1,774.8 1,837.5 1,880.8 1, 915. 2 1,964.8
1,039.6 1,063.3 1,048.2 1,065.8 1,068.6 1, 058. 2 1,061.0 1,065.2
. . . 1,579.2 1,755.8 1,607.1 1,664.7 1,702.3 1, 731. 0 1, 773. 4
126.5
128.4 130.3
122.3 124.5
120.4
121.0
184.2
191.4
127A
172.9
178.6
199.7
167.7
165.8 188.5
33.4
35.1
35.3
33.2
34.9
34.2
70.6
68.9
33.6
63.3
34.7
70.0
68.3
58.9
59.5
69.5
-1.3
8.3
4.1
.6
3.9
3.3
4.0
-.8
5.0 25.0
.4
2.7
2.4
2.4
3.4
69.6
77.2
70.3
72.1
74.8
75.8
77.9
80.4
43.6
45.0
43.9
44.1
44.4
44.7
45.4
45.7
229.6
71.8
157.8
248.4
77.0
171.4
231.0
71.5
159.4
237.0
74.8
162. -2
241.8
75.5
166.3
245.8
75.8
170.0
249.6
76.3
173.3
256.6
80.6
175.9
149.9
49.1
100.8
150.5
49.1
101.3
150.2
49.2
100.9
150.4
49.3
101.1
150.4
49.2
101.2
150.5
49.1
101.4
150.6
49.2
101.5
150.3
49.0
101.2
20.5
25.2
20.7
21.2
24.2
23.7
26.9
26.1
8.1
7.9
8.1
8.1
8.9
8.1
8.0
6.7
See footnotes on p. 13.
HISTORICAL STATISTICS
The national income and product series for 1929-72 are in The
National Income and Product Accounts of the United States, 1929-74'
Statistical Tables (available for $4.95, SN 003-010-00052-9, from
Commerce Department District Offices or the Superintendent of
Documents; see addresses inside front cover). Data for 1973, 1974,
1975, and 1975-78 are in the July 1976, 1977, 1978, and 1979
issues of the SURVEY, respectively. Summary national income and
product series in current and constant dollars and implicit price
deflators for 1947-79 are shown in the January 1980 issue of
the SURVEY.
SURVEY OF CURRENT BUSINESS
January 1980
1979
1978
1978
1979 v
I
IV
III
13
II
1978
III
1978
IV P
1979 P
Seasonally adjusted at annual rates
2,127.6 2,368.5 2,159.6 2,235.2 2,292.1 2,329.8 2,396.5 2,455.8
178.1 189.5
177.2
182.1
184.8
186.9
10.2
4.0
9.2
3.9
9.5
4.1
9.6
.6
9.9
-1.3
191.1 195.2
10.4
8.3
10.8
Plus: Subsidies less current
surplus of government
4.2
2.3
2.8
5.1
1.8
2.6
3.2
enterprises
1,724.3 1,924.2 1,752.5 1,820.0 1,869.0 1,897.9 1,941.9
Equals : National income
1.5
Less: Corporate profits with
inventory valuation
and capital consumption adjustmentsNet interest
C9ntributions for social
insurance
Wage, accruals less dis-
184.8
117.6
178.9
122.6
176.6
125.6
180.8
131.5
164.1 189.8
165.7
170.0
184.6
187.7
191.1 195.9
4
1
138.9
— 9
Table 5.—Relation of Gross National Product, Net National
Product, and National Income in Constant Dollars (1.10)
[Billions of 1972 dollars]
1,399.2 1,431.1 1,407.3 1, 426. 6 1, 430. 6 1,422.3 1, 433. 3 1,438.4
Gross national product
Less: Capital consumption
allowances with capital consumption adjustment
132.5 136.7 132.9 133.6 134.5 136.3 137.7 138.2
Equals: Net national product.. 1, 266. 7 1,294.5 1,274.4 1, 292. 9 1,296.1 1,286.0 1,295.6 1,300.2
Kesidual * .
Equate : National income
138.9
3.4
IV *
Net national product
142.4
140.2
141.8
142.5
141.0
142.4
2.4
2.4
2.7
.4
-.8
5.0
1,124.4 1,149.7 1,131.9 1,148.5 1,153.2 1,145.8 1,148.2
1,910.7 2,125.6 1,940.0 2,010.6 2,062.2 2,090.8 2,148.5 2,200.8
Net domestic product..
1,890.1 2,100.4 1,919.3 1,989.4 2,038.1 2,067.2 2,121.6 2,174.7
Business
1,590.9 1,774.7 1,618.1 1,680.4 1,721.5 1,745.6 1,794.1 1,837.8
Nonfarm
_ 1,534.8 1, 718. 2 1, 571. 1 1, 629. 0 1, 667. 3 1, 693. 1 1,733.9
43.8 52.5 43.1 47.3 53.6 53.8 51.9 50.9
Farm
4.0
Statistical discrepancy
3.3
3.9
4.1
.6 - 1 . 3
8.3
Households and institutions . 69.6 77.2 70.3 72.1 74.8 75.8 77.9 80.4
Government
229.6 248.4 231.0 237.0 241.8 245.8 249.6 256.6
Rest of the world
National income
20.5 25.2 20.7 21.2 24.2 23.7 26.9
1, 724. 3 1,924.2 1,752.5 1,820.0 1,869.0 1,897.9 1,941.9
26.1
Domestic income
1,703.8 1,899.0 1,731.8 1,798.8 1,844.9 1,874.3 1,915.0
Business
1,404.6 1,573.3 1,430.5 1,489.8 1,528.3 1, 552. 7 1,587.5
1,361.3 1,523.1 1,388.6 1,441.9 1,476.7 1, 500. 9 1,538.2
Nonfarm
43.3 50.2 41.9 47.9 51.6 51.8 49.3 48.2
Farm
Households and institutions . 69.6 77.2 70.3 72.1 74.8 75.8 77.9 80.4
Government
229.6 248.4 231.0 237.0 241.8 245.8 249.6 256.6
Rest of the world
20.5 25.2 20.7 21.2 24.2 23.7 26.9 26.1
Net national product
175.2
111.9
_. i
.2
Plus: Government transfer
payments to persons. . 214.9 241.9 219.1 222.3 227.7 233.7 250.4 255.8
Personal interest in163.3 191.8 167.2 174.3 181.0 187.6 194.4 204.3
come
109.5 1:29. 7 111.9 117.6 122.6 125.6 131.5 138.9
Net interest
Interest paid by government to persons
and business
. .. 49.8 58.9 51.1 52.1 55.0 58.3 59.9 62.4
Less: interest received
30.7 36.4 31.4 32.4 34.3 35.4 37.3 38.6
by government
Interest paid by consumers to business . . 34.8 39.6 35.6 37.1 37.7 39.0 40.2 41.6
47.2 52.7 47.8 49.7 51.5 52.3 52.8 54.4
Dividends
Business transfer pay9.2 10.2
9.2
9.5
9.6
9.9 10.4 10.8
ments
1,717.4 1,923.1 1,742.5 1,803.1 1,852.6 1,892.5 1,946.6 2,000.5
Equals : Personal income
Less: Indirect business tax
and nontax liability
plus business transfer
payments less subsidies plus current surplus of government
enterprises
III
Billions of 1972 dollars
167.7 178.5
109.5 129.7
2
II
Table 6.—Net National Product and National Income by Sector in
Current and Constant Dollars (1.11, 1.12)
Less: Capital consumption
allowances
with
capital consumption adjustment
216.9 243.0 219.6 224.6 229.9 239.0 247.9 225.1
Capital consumption
allowances without
capital consump172.0 187.3 173.2 176.5 180.1 186.4 189.3 193.3
tion adjustment
Less: Capital consumption adjust-44.9 —55.7 -46.4 -48.0 -49.7 -52.5 -58.6 -61.8
ment
Equals: Net national product.. 1,910.7 2,125.6 1,940.0 2,010.6 2,062.2 2,090.8 2,148.5 2,200.8
9.2
3.3
I
Billions of dollars
Table 4.—Relation of Gross National Product, Net National
Product, National Income, and Personal Income (1.9)
Less: Indirect business tax
and nontax liability. ..
Business transfer payments
Statistical discrepancy. .
IV
Seasonally adjusted at annual rates
Billions of dollars
Gross national product
III
1979
143.7
1,266.7 1,294.5 1,274.4 1,292.9 1,296.1 1,286.0 1,295.6 1,300.2
Net domestic product
1,258.5 1,286.6 1,266.3 1,284.8 1,287.2 1,278.0 1,287.6 1,293.5
Business . .
1,065.0 1,091.1 1,072.2 1,090.3 1,092.4 1,082.8 1,091.6 1,097.6
Nonfarm
1,036.7 1,063.3 1,045.5 1,063.7 1,067.9 1,057.8 1,061.0
24.9 25.3 24.3 24.0 24.1 25.7 25.6 26.0
Farm
Residual 1.
3.4
2.4
2.4
2.7
.4
-.8
5.0
Households and institutions . 43.6 45.0 43.9 44.1 44.4 44.7 45.4 45.7
Government
149.9 150.5 150.2 150.4 150.4 150.5 150.6 150.3
Rest of the world..
National income
Domestic income
Business
Nonfarm
Farm
Households and institutions.
Government.
Rest of the world
8.1
7.9
8.1
8.9
8.1
8.1
8.0
1,124.4 1,149.7 1, 131. 9 1,148.5 1,153.2 1,145.8 1,148.2
6.7
1,116.2 1,141.8 1,123.8 1,140.4 1,144.4 1, 137. 7 1,140.2
922.7 946.3 929.7 945.9 949.5
896.0 919.0 903.9 920.1 923.6
26.7 27.3 25.8 25.8 25.9
43.6 45.0 43.9 44.1 44.4
149.9 150.5 150.2 150.4 150.4
8.1
7.9
8.1
8.1
8.9
942.5 944.2
914.7 916.7
27.8 27.5 27.9
44.7 45.4 45.7
150.5 150.6 150.3
8.1
8.0
6.7
*> Preliminary.
1. Equals G N P in constant dollars measured as the sum of final products less G N P 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 G N P in constant dollars measured as the sum of final products less G N P 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 CUERENT BUSINESS
14
1978
1978
1979*
1978
1979
IV
III
January 1980
I
III
II
IV*
1978
1979*
Seasonally adjusted at annual rates
Compensation of employees —
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
.
Farm .
Proprietors' income with
inventory valuation adjustment and without
capital consumption adjustment .
Capital consumption adjustment .
Nonfarm
Proprietors' income without inventory valuation
and capital consumption adj ustments
Inventory valuation adjustment .
Capital consumption adRental income of persons with
capital consumption adjustment
Rental income.
Capital consumption adjustment
Corporate profits with inventory valuation and capital
consumption adjustments
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
897.9
941.9
411.2
439.7
472.8
512.8
117 4
154 7 189.4
211.5
238.0
270.3
218 0 233 5
885 5 993 8
219 2
898 1
225 1
929.6
228 1
961.3
231.2
980.3
234 4
003.6
240.2
030.2
201 0
231 g
203 7 210.1
221.8
228.2
234.8
242.6
94 6
106 5
109 2
95 5
122 7 108 2
98 2
111.9
105 8
116.0
107.9
120.3
109 9
124.9
113 0
129.6
116 8
130 0 117 4
125.7
129.0
129.3
130.3
131.5
31.3
34.2
33.7
30.9
29 5
27.7
32 1
32.6
37.5
—4.9
89 1
—5.4
98 0
92.2
103.7
—2.1
10
26 1
36.4
39.3
39.0
36.2
35 5
—5 0 —5.1
91 3 94.4
—5.1
94 8
-5.3
95.5
—5.3
99.4
—6 0
102 0
94.5
98.5
99.8
100.5
106.0
108.6
—3 0 —2.0
I i
28
-2.4
-3.1
-2.5
—3.1
-3.1
—1 6
19
31.1
—2 5 —3 4 —3.4
25.9
26.9
26.8
27.1
27.3
26.8
26.6
27.0
49.3
55 0
50.9
52.1
53.0
54.1
56.0
56.8
-23.4 -28.1 -24.1 -25.0 -25.7 -27.3 -29.5 -29.8
167.7
178 5
175.2
184.8
178.9
176.6
180.8
189.0
212.0
87.5
124.6
47.8
198.6
227.4
95.1
132.3
49.7
193.3
233.3
91.
142.
51.
191.3
227.9
88.7
139.3
52.3
198.
242
94.
148.
52
11I
IV*
76.
82.
90.
87.
95.
—23.
-28.
-39.
—36.
—44
—46.9
Corporate profits with inventory valuation and
capital consumption
adjustments
Profits before tax
Profits tax liability.. -_
Profits after tax . „
Dividends
Undistributed profits
Inventory valuation adjustment
Capital
consumption
adjustment
_•__
Net interest
Gross domestic product
of financial corporate
business *
Gross domestic product
of nonfinancial corporate business
Capital consumption allowances with capital consumption adjustment
_ Net domestic product
Indirect business tax and
nontax liability plus business transfer payments
less subsidiesDomestic 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.—
157.5
195.8
84.5
111.3
42.1
165.2
223.8
92.7
131.1
47.6
165.1
201.9
87.5
114.4
43.1
175.3
217.8
95.1
122.8
44.8
167.0
221.4
91.3
130.1
46.8
164.9
216.2
88.7
127.6
47.6
164.9
226.5
94.0
132.4
46.8
69.2
83.5
71.3
78.0
83.3
79.9
85.7
49.3
- 2 5 . 2 - 4 1 . 9 - 2 3 . 0 - 2 8 . 8 - 3 9 . 9 - 3 6 . 6 - 4 4 , 0 -46.9
- 1 3 . 1 -16.7 - 1 3 . 8 - 1 3 . 8 - 1 4 . 5 - 1 4 . 7 - 1 7 . 6 - 2 0 . 1
9.0
10.4
10.7
9.1
9.4
10.1
11.2
9.8
65.0
70.2
66.0
68.1
69.0
71.4
68.2
1,370.4 1,401.3
246.9 1,388.3 1,267.9 1,314.1
1,346.4
126.9 140.8 128.2 130.5
120.0 1, 247. 5 1,139.7 1,183.5
143.4
133.4 138.4
1, 232. 0 1,257.9
1,213.0
148.0
117.2 126.3 117.5 120.7 122.8 124.2 127.6 130.7
002.7 1, 121. 2 1, 022. 2 1,062.8 1, 090. 2 1, 107. 8 1, 130. 3
834.7
697.8
940.7
782.3
846.5
707.6
876.5
733. 0
910.0
758.3
928.4
772.5
949.7
789.4
974.5
809.2
137.0
158.3
138.9
143.6
151.7
155.9
160.4
165.3
128.3
166.1
68.8
97.4
41.8
133.3
190.8
75.4
115.5
47.2
135.1
171.3
71.2
100.1
42.8
143.8
185.7
77.9
107.8
44.1
135.9
189.5
74.7
114.8
46.2
133.9
184.2
71.8
112.5
47.3
132.3
192.7
76.3
116.3
46.3
48.8
68.6
65.2
70.0
55.5
68.3
57.3
63.7
-25.2 -41.9 -23.0 -28.8 -39.9 -36.6 -44.0 -46. 9
- 1 2 . 6 - 1 5 . 6 - 1 3 . 2 - 1 3 . 1 - 1 3 . 6 - 1 3 . 8 - 1 6 . 4 -18.7
48.3 50.7
47.2
42.4
44.2
39.7
40.6
45.5
Billions of 1972 dollars
54.4
-13.
-13.
-14.
-14.
-17.
-20.1
109.
129
111.
117.
122.
125.
131
138.9
167.
84.
178
92
175.
87.
184.
95.
178.
91.
176.
88.
180.
94.
83.
47.
85.
52.
87.
47.
89.
49.
87.
51.
88.
52.
86.
52.
36.
33.
40.
40.
36.
35.
34.
Gross domestic product
of nonfinancial corCapital consumption allowances with capital consumption adjustment
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
Domestic income
818.7
844.0
826.3
841.4
846.6
841.0
842.4
78.4
740.3
80.5
763.5
78.6
747.7
78.9
762.6
79.3
767.3
80.2
760.8
81.0
761.4
81.5
90.5
649.7
92.4
671.1
91.1
656.6
92.4
670.2
93.7
673.6
91.3
669.5
92.0
669.4
92.8
Dollars
54 4
Table 8.—Gross Domestic Product of Corporate Business (1.15, 7.8)
Gross domestic product
of corporate business... 1,311.9 1,458.5 1,333.9 1,382.2 1,414.6 1,439.4 1,472.6
Capital consumption allowances with capital consumption adjustment
132.9 147.7 134.3 136.8 139.9 145.1 150.4
155.3
Net domestic product ..
1, 178. 91. 310. 81, 199. 6 1,245.4 1, 274. 7 1, 294. 3 1, 322. 2
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
127.6 137 8 128.0 131.6 133.8 135.4 139.3 142.8
Domestic income
1,051.3 1,173.0 1,071.6 1, 113. 8 1, 140. 9 1, 158. 9 1, 182. 9
Compensation of employ884.9 997.4 897.4 929.1 964.1 984.0 1, 007. 3 1, 034. 1
ees
Wages and salaries
739.0 828.7 749.5 776.2 802.7 817.9 836.4 857.9
Supplements to wages
and salaries
145.9 168.6 148.0 152.9 161.4 166.0 170.9 176.2
II
Table 8.—Gross Domestic Product of Corporate Business—Con.
227 3
103 5
Corporate profits with inventory valuation adjustment and without capital
consumption adjustment. . 180.8 195.2
206.0 237 0
Profits before tax
Profits tax liability...
84.5
92.7
121.5 144.4
Profits after tax
47.2
Dividends
52 7
Undistributed prof74.3 91 7
its
Inventory valuation ad- 2 5 . 2 —41
justment
Capital consumption ad- 1 3 . —16.
justment
Net interest
752 5 ,820.0 ,869.0
304.5 ,459.1 ,321.1 ,364.8
I
Billions of dollars
Table 7.—National Income by Type of Income (1.13)
724 3 ,924.2
IV
Seasonally adjusted at annual rates
Billions of dollars
National income...
III
1979
Current-dollar cost per
unit of constant -dollar
gross2 domestic product
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
Corporate profits with inventory valuation and
capital consumption
adjustments
Profits tax liability
Profits after tax with in
ventory valuation and
capital consumption
adjustments
Net interest
1.523
1.645
1.535
1.562
1.590
1.629
1.664
.155
1.368
.167
1.478
.155
1.379
.155
1.407
.158
1.433
.165
1.465
.170
1.493
.143
1.22S
.150
1.328
.142
1.237
.143
1.263
.14£
1.288
.14S
i.3r
.151
1.345
1.02C
1.114
1.024
1.042
1.07£
1.104
1.12'
.15' '
.084t
.15*
.08C
.IK
.08t
.17]
.161
.08*
.15<
.08,
.15'
.09
.071J
.04!J
.06?
.05(
.or
.041
.07?
.05(
.07
.05
.07
.05
.06
.05
.09;
p Preliminary.
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 1980
1979
1978
1978
1979 v
I
IV
III
15
1978
III
II
IV P
1978
1979 *
Seasonally adjusted at annual rates
77.5
76.1
75.8
80.6
84.3
77.5
71.2
71.4
76.7
77.8
78.1
78.3
84.6
76.1
77.8
72.7
69.1
51.3
68.9
50.4
70.6
51.3
74.0
55.5
68.2
49.5
67.9
51.1
66.3
49.2
17.8
18.5
19.3
18.5
18.7
16.9
17.1
13.0 14.8
22.4 23.3
-9.3 -8.5
-4.9 -6.3
7.8
9.9
14.8 14.1
13.9
22.5
14.2
23.9
12.3
21.5
15.1
24.3
10.5
19.8
-8.6
-6.8
8.0
14.8
-9.8
-4.2
9.4
13.6
-9.2
-4.9
9.9
14.8
-9.2
-5.8
9.7
15.5
-9.3
-4.6
10.6
15.2
.6
.6
.6
.6
.6
.5
Change in business inventories of new and used autos . .
New
Used
.
Addenda:
Domestic 1 output of new
autos — .Sales of imported new autos 2 .
.6
.7
-1.7 -2.3
2.2
-.3
1.5
-6.6
-1.4
.9
-.1
-1.6 -2.4
0
-.1
2.9
-.7
-.6
.3
2.3
-.9
-6.7
.1
-1.2
-.1
63.6
16.4
64.1
19.5
62.7
16.8
67.3
17.0
71.8
19.5
65.8
19.5
60.2
19.1
58.8
19.8
Billions of 1972 dollars
Auto output
Final sales .
. .
Personal consumption expenditures.
New autos
Net purchases of used
autos
Producers' durable equipment
New autos
Net purchases of used
autos
Net exports
Exports.
Imports
Government purchases of
goods and services
Change in business inventories of new and used autos
New
Used
Addenda:
Domestic 1 output of new
autos
Sales of imported new autos 2
Personal income . Wage and salary disbursements
Commodity-producing
industries 3
Manufacturing.. . . 4Distributive industries
Service industries '
Government and government enterprises
717.4
IV »
923 1
742 5
803 1
852 6 892 5
94(5 ft
000 5
103 3 227 5
116 8
154 3
189 3
212 4
23ft 1
97ft 1
387 4
298 3
269.4
228 7
393 7
300 8
272.5
231 9
408 6
312 7
281.6
239 4
423 o
324,8
291.1
247 2
431 7
328 5
295.8
252 8
438 3 AA7 Q
331 9 338 6
304.0 312.2
261 3 9AQ Q
217 8 233 7 218 7 224 7
228 0
232 1
234 5
94ft 1
106.5
122 7 108 2 111 9 116 0 120 3
124.9
129 6
Proprietors' income with inventory valuation and capital consumption adjustments
.
116 8 130 0 117 4 125 7 129 0 129 3
130 3
Farm. . . .
Nonfann
163.3
191 8 167 2 174.3
Transfer payments
224 1
OM
116.3
132 4 119 8 121 5 123 8 127 1
11.0
15.9
11.2
16.5
9.3
14.4
10.8
16.0
7.8
13.0
Less: Personal contributions
for social insurance. .
69.
-4.7
-2.4
5.5
7.8
.5
-5.2 -5.0
- . 9 -2.4
5.6
6.6
7.9
7.6
-5.0
-2.6
5.6
8.2
-5.4
-.9
6.5
7.4
-5.1
-.8
6.6
7.5
-5.2
-.6
7.0
7.6
Less: Personal tax and nontax
payments
259.
.5
.4
.4
.4
-5.2
-1.4
6.4
7.8
.4
.3
- . 9 -1.8
1.6
.4
1.6
-4.4
-.9
.4
-.1
- . 8 -1.8
0
-.1
2.0
-.4
.2
.2
2.0
-.5
-4.5
.1
-.9
-.1
46.0
11.8
43.0
13.0
44.6
11.9
47.7
12.1
49.6
13.4
44.2
13.1
39.5
12.6
38.7
13.0
45.2
35.9
45.9
36.4
47.1
38.3
42.5
33.3
42.2
33.6
41.0
32.4
.3
181.0
Personal interest income
11.5
16.5
43.2
34.4
54 4
47 8
9.8
15.0
45.4
36.3
27 o
52 8
26 8
52 7
11.2
15.9
48.4
26.6
52 3
26 9
47.2
8.6
47.5
52.0
26.8
51 5
25.9
Dividends
8.6
47.5
51.3
27.3
49 7
Rental income of persons with
capital consumption adjustment
_-
9.2
52.9
57.8
27.1
31 3
94.4
8.7
58.1
54.8
131 5
30 9
29 5
99 4 102 0
26 1
91 3
9.5
56.3
54.8
33 7
95 5
32 1
98 0
9.3
53.0
52.4
34.2
94.8
27 7
89.1
8.8
51.5
54.6
435 2
330 9
300.8
257 8
Other labor income
9.1
54.9
1
228 3
231 8 237 3
243 6 260 8
266 7
138.7
140 2
8.8
14.1
9.o
14 2
10.0
14 5
34 6
8.7
14.5
35 3
36 7
37 9
39 7
10.7
42 6
10.7
44.3
10.8
46 2
10 9
49 6
11 5
50 7
71.8
78.7
79.8
81.2
83.0
266 0 278.2
280.4
290.7
9.2
13.9
9.3
14.3
9.0
13 7
8.2
14.1
32 9
37 4
33 1
10.7
41.
11 0
47 7
10.7
42 0
80.7
70.2
299
187 6 194 4 204 3
306 6 321 7
Equals: Disposable personal
1,458. 1 623 1,476.5 1,524.8 1,572.2 1,601.7 1 640 01,678 8
income
Less: Personal outlays
v 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 acriculture, forestry, andfisheries;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.
III
Table 10.—Personal Income and Its Disposition (2.1)
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
.4
II
Billions of dollars
Table 9.—Auto Output in Current and Constant Dollars (1.16,1.17)
Personal consumption ex68.0
penditures
New autos
. -- 50.3
Net purchases of used
17.7
autos
Producers' durable equip14.2
ment
22.1
New autos
Net purchases of used
-7.9
autos
-6.1
Net exports
7.6
Exports
13.7
Imports.
Government purchases of
.6
goods and services
I
IV
Seasonally adjusted at annual rates
Billions of dollars
Auto output
III
1979
1 386. 1 550
1 405 1, 453. 4 1, 493. 0 1 515 81 569 71 622 9
Personal consumption expenditures
1 350. 1 509 1 369. 1 415.4 1,454.2 1,475.9 1 528 1 580 4
Interest paid by consumers
35.
39.0 40
37.
37.
to business..
34.
41.6
39.
Personal transfer payments
1.
to foreigners (net)
.9
Equals: Personal saving
Addenda:
Disposable personal income
Total, billions of 1972
dollars
-
72.
72.
70.
71.
79.
85.
70.
55.9
972.
994
976.
991.
996.
993.
993.
993.4
Per capita:
Current dollars
1972 dollars
-
6 67
4,44
7 36,.
4,50c
6,748
4,46
6,954
4,52
7,15
4,53
7,27
4,51
7,43
4,50
7,586
4,489
Population (millions)
218.
220.
218.
219.
219.
220.
220.
221.3
4.
4.
4.
4.
5.
5.
4.
3.3
Personal saving as percentage of disposable personal
income
SURVEY OF CURRENT BUSINESS
16
1979
1978
1978
1979 *
III
January 1980
IV
1978
III
II
IV*
1978
1979 v
III
1979
IV
Seasonally adjusted at annual rates
II
IV r
III
Seasonally adjusted at annual rates
Billions of current dollars
Billions of 1972 dollars
Table 11.—Personal Consumption Expenditures by Major Type of Product in Current and Constant Dollars (2.3, 2.4)
1,350.8 1,509.8 1,369.3 1,415.4 1,454.2 1,475.9 1,528.6 1,580.4
200.3 212.8 203.5 212.1 213.8 208.7 213.4 215.5
Personal consumption expenditures
Motor vehicles and parts
Furniture and household equipment
Other
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services
-
--
-
Housing
-Household operation
E lectricity* and gas
Other
Transportation
_. . .
Other
900.8
924.5
905.3
920 3
921 g
915 0
925 9
935 2
146.7
147.0
147.5
152.1
150.2
144 8
146 9
146 0
88.6
89.4
37.6
62.7
60.3
23.7
58.5
63.2
25.2
62.4
60.9
24.2
63.7
62 9
25.5
64.0
61 4
24.8
57.1
62 4
25.4
57.1
64 3
25.4
55.9
64
7
25.4
530.6
597.0
536.7
558.1
571.1
89.1
84.2
35.4
581.2
604.7
631.0
343.3
349.3
344.7
351.9
348.1
344.1
349.2
356.0
271.7
91.2
50.9
14.0
102.9
619.8
301.9
99.6
65.1
18.3
112.1
700.0
274.5
92.7
51.5
13.4
104.7
629.1
283.9
96.8
55.0
13.6
108.9
645.1
292.9
95.5
58.4
15.4
108.9
669.3
296.7
96.9
60.2
17.2
110.2
686.0
303.1
101.0
68.3
20.4
111.9
710.6
315.1
105.0
73.4
20.0
117.5
733.9
167.1
72.7
28.0
5.5
70.0
410.8
168.9
76.8
26.7
5.2
71.8
428.2
166.6
73.8
28.3
5.3
70.7
413.1
168.6
76.4
29.1
5.2
72.6
416.3
167 2
75.0
29.1
5.5
71.2
166 7
74.9
26.1
5.3
71.0
169 3
77.6
25.8
5.2
71.3
172 4
79 7
25.8
4.7
73 5
423.5
426.1
429.9
433.2
212.2
91.4
42.6
48.8
49.2
267.1
241.6
102.0
48.8
53.2
55.8
300.6
215.0
92.5
42.8
49.7
49.7
271.9
2221
93.7
43.4
50.3
50.8
278.5
229.5
99.1
47.7
51.4
52.9
287.8
236.3
99.7
47.3
52.5
54.5
295.5
244.9
103.5
49.6
53.9
56.8
305.4
255.7
105.6
50.5
55.1
58.9
313.7
150.8
58.6
23.2
35.4
32.5
168.9
159.6
61.2
24.0
37.2
34.2
173.2
151.7
58.4
22.7
35.7
32.7
170.2
153.7
59.1
23.2
35.9
33.0
170.5
156.4
61.6
25.2
36.4
33.6
171.9
158.6
60.7
23.8
36.9
33.9
172.9
160.5
61.1
23.5
37.6
34.5
173.8
163.0
61.4
23.4
38.0
34.8
174.0
91.3
85.7
35.8
91.2
77.6
31.5
92.4
78.9
32.2
97.7
82.1
34.0
89.8
87.3
36.3
1979
1978
IV
1978 1979 » III
94.9
82.7
34.5
][I
I
I I I IV
1978 1979 P III
P
Seasonally adjusted at annual rates
I
II
III IV P
Billions of dollars
Table 12.—Federal Government Receipts and Expenditures (3.2)
Table 13.—State and Local Government Receipts and
Expenditures (3.4)
432.1 497.6 442.1 463.5 475.0 485.8 504.8
Receipts
Personal tax and nontax receipts
Income taxes
Estate and gift taxes
Nontaxes
Corporate profits tax accruals
Indirect business tax and nontax accruals
Excise taxes . .
Customs duties *
Nontaxes .
Contributions for social insurance
Expenditures
Purchases of goods and services
National defense
Compensation of employees
Military
Civilian
Other
Nondefense
Compensation of employees
Other
-
Qrants-in-aid to State and local
governments _
194 9 229 9 200.9 211.0 213.0 223.4 235.2 248.1
189.4 224.3 195.6 205.4 207.4 217.8 229.6 242.3
5.3 5.5 5.1 5.4 5.4 5.4 5.4 5.6
.2
.2
2
.2
.2
.2
.2
.2
72 0 78 3 74.6 81.2 77.2 74.9 79.4
Less: Wage accruals less disbursements. . . . . _
Receipts
Personal tax and nontax receipts
Income taxes
Nontaxes
Other
Corporate profits tax accruals
28.1 30 0 28.4 29.3 29.4 29.9 30.0 30.7
18.4 19.3 18.5 18.9 18.9 19.3 19.4 19.6
7.1 7 5 7.3 7.6 7.5 7.5 7.3 7.5
2.6 3 3 2.6 2.8 3.0 3.2 3.4 3.6
137.0 159.3 138.2 142.0 155.5 157.5 160.2 164.2
459.8 508.0 462.6 479.7 486.8 492.9 516.1 536.4
152.3
99.0
45.9
26.1
19.8
53.1
58 0 53.3
27 8 25.6
30 2 27.7
185.4 209 6 188.8
181.6 205 7 185.3
3.7 3 9 3.5
159.0
101.2
48.0
27.2
20.8
53.2
57.8
26.8
31.0
77.3 80.1 77.6
80.7
152.6
99 0
46.1
26.3
19.8
52.9
53.6
25 7
27.9
34.8
Net interest paid
Interest paid
43.4
To persons and business _ _ _ . . 34.8
8.7
To foreigners
Less: Interest received by government- 8.6
Subsidies less current surplus of
government enterprises
9.7
9.1
Subsidies
Less: Current surplus of government
-.6
enterprises _ __
0
166 3
108 3
49 2
27.7
21 6
59 0
163.6
103.4
48.3
27.2
21.1
55.2
60.2
27.2
33.0
161.7
106.0
48.4
27.1
21.2
57.6
55.7
27.4
28.3
162.9
109 0
48.7
27.2
21.4
60.3
53.9
27 6
26.3
177.0
114 6
51.6
29.1
22.5
63.0
62.4
29 0
33.4
192.1 196.8 201.9 217.6 221.9
187.9 192.7 198.0 213.9 217.9
4.2 4.0 3.9 3 7 4 0
77.8
77.7
81.8 83.0
43.0 35.6 37.1 40.0 42.6 43.5 46.0
54.0 44.6 46.5 50.4 53.1 54.8 57.5
43.0 36.0 36.7 39.3 42.6 43.9 46.1
11.0 8.6 9.8 11.0 10.6 10.9 11.4
10.9 9.0 9.4 10.3 10.6 11.3 11.5
9.0
8.1
-.9
0
8.4
8.4
10.9
10.5
8.3
8.1
0
-.4
-.2
9.0 10.2
8.3 7.9
-.7 -2.3
0
-.2
0
.2
0
8.4
8.0
-.5
0
Surplus or deficit ( - ) , national
income and product accounts. . -27.7 -10.5 -20.4 -16.3 -11.7 - 7 . 0 -11.3
9.1 7.1 - 3 . 1 - 2 . 3
2.7 - 3 . 7 - 1 . 4
-1.4
Social insurance funds
Other funds
—26.3 —13.1 —16.7 —14.9 —20.8 -14.1 - 8 . 2
IV
Seasonally adjusted at annual rates
Billions of dollars
Transfer payments
To persons .
To foreigners
1979
1978
Indirect business tax and nontax accruals
Sales taxes
Property taxes
--Other
Contributions for social insurance
Federal grants-in-aid
Expenditures
Purchases of goods and services
Compensation of employees
Other
Transfer payments to persons
331 0 354 4 331 8 342 6 343 9 345 9 359 8
64.1 69.9 65.0 67.2 67.3 67.3 71.4
35.5 37.9 36.0 37.3 36.5 35.6 38 9
20 8 23 7 21 1 21 9 22 7 23 4 24 1
7.8 8.3 7.9 8.0 8.2 8.3 8 4
12 5 14 3 12 9 13 9 14 1 13.7 14 7
159.5
78.1
63.9
17.5
27.1 30.5
150 0
71.3
63.2
15.5
148 8
72.3
60.8
15.7
27.5
152 8
74.8
61.9
16.1
28.0
155.5
76.1
62.8
16.6
29.1
157.0
76.2
63.7
17.1
30.2
73.7
40.3
24 g
85
161 1 164 5
79 1 81 1
64 2 65.1
17.7 18.4
30.9
31.8
77.3 80.1 77.6 80.7 77.8 77.7 81.8
303. 6 329.9 309.1 315.5 316.3 326.1 334i5
83.0
283.0 309.8 288.6 294.8
157.8 171.4 159.4 162.2
125.2 138.4 129.1 132.6
33.3 36.3 33.8 34.4
296.5
166.3
130.2
35.0
304.9
170.0
135.0
35.7
342.8
314.9 322.8
173.3 175.9
141.6 146.9
36.5
37.9
—7.1 - 9 . 5 - 7 . 3 - 7 . 6 - 8 . 3 - 9 . 0 -10.0 -10.8
Net interest paid
15.0 15.9 15.1 15.4 15.7 15.8 16.1 16.3
Interest paid
Less: Interest received by govern22.1 25.5 22.5 23.0 24.0 24.8 26.0 27.1
ment _ .
Subsidies less current surplus of gov-5.5 -6.7 -5.6 -5.8 -6.5 -6.4 -7.0
ernment enterprises
.2
.3
.2
.3
.3
.3
.3
Subsidies
Less: Current surplus of government
6.7
7.0
6.8
7.3
6.1
5.8
5.7
enterprises
Less: Wage accruals less disbursements
---
.3
-.9
^^ j
22.7
27.1 27.6
19.7
25.3
23.6
-.9
23.8 25.0 26.0 27.1
3.3 2.6 - 6 . 3 - 1 . 8
.2
-.1
.3
Surplus or deficit (— ), national
income and product accounts — 27.4
24.4
Social insurancd funds
Other funds
23.2 26.6
4.2 - 2 . 2
.4
p Preliminary.
1. Includes fees for licenses to import petroleum and petroleum products.
-6.9
.3
7.3
.2
28.3
SURVEY OF CURRENT BUSINESS
January 1980
1978
1978
1979 P
1978
1979
IV
III
17
I
II
1978
IV 9
III
1979 ^
III
Seasonally adjusted at annual rates
Capital grants received by the
United States (net)
o
Payment to foreigners. . . 207.2
Imports of goods and services. 217.5
174.9
Merchandise 42.6
Other
Transfer payments (net) . .
From persons (net)
From government (net)
Interest paid by government
to foreigners
- ...
Net foreign investment
213.8
224.9
239.6
244.9
268.4
281 2
281.2
257.4 213.8
177.0 145.9
80 4 67.9
224.9
154.5
70.4
238.5
163.0
75.5
243.7
166.8
76.9
267.3
184.6
82.7
280.0
193.4
86.6
o
1.1
0
1.1
1.1
1.1
258.5
213.8
224.9
239.6
244.9
268.4
281.2
281. 2
260.9 220.6
208 0 177.2
52.9 43.4
229.4
183.1
46.3
234.4
186 0
48.4
251.9
200.4
51.4
269.5
215.9
53.6
287.7
229.7
58.0
4.6
9
3.7
4.9
.9
4.0
4. 0
10.9
11.4
1.1
4.6
g
3.7
4.8
9
3.9
4.2
.7
3.5
5.1
9
4.2
5.1
1 i
4.0
4.7
9
3.9
8.7
11.0
8.6
9.8
11.0
10.6
-23.5 -18.2 -19.6 -19.4 -11.0 - 2 2 . 3
Gross private saving
Personal saving
Inventories1
346.9
362.2
374.3
367 3
324.9
348 9 330.4
336.1
345.2
360.5
352 1
71.5
79.2
85 9
70.9
Undistributed
corporate
profits with inventory
valuation and capital
consumption
adjustments
36.0 33 1 40.0 40.1 36.1 35.6
Undistributed profits
_ 74.3 91.7
76.8 82.6 90.5 87.0
Inventory valuation ad—25 2 41 0 —23 0 —28 8 —39 9 —36 6
justment
Capital consumption adjustment
—13 1 16 7 —13 8 —13 8 —14 5 —14 7
Corporate capital consumption allowances with capital consumption adjust132 9 147 7 134 3 136 8 139 9 145 1
ment
Noncorporate capital consumption allowances with
capital consumption adjustment
84 0 95 3 85 2 87 7 89 9 93 9
Wage accruals less disburse0
o
o
o
o
o
ments
Government surplus or deficit (— ), national income
and product accounts
Federal
State and local
-.3
14.0
2.3
10.8
15.8
586.9
613.4
635.1
662.9
76.7
79.8
81.2
79.9
81.8
Nonfarm
_
Durable goods.
Nondurable goods . .
491.7
285.2
206.5
510.2
296.7
213.5
533.5
311.2
222.4
553.9
324.5
229.4
583.0
335.2
247.7
602.5
347.2
255.3
Manufacturing
_
Durable goods
Nondurable goods
245.5
159.9
85.6
253.7
165.8
87.9
267.4
175.4
92.0
277.7
183.1
94.6
294.4
191.2
103.2
305.3
199.5
105.8
Wholesale trade
Durable goods.
Nondurable goods
97.1
63.9
33.2
102.0
66.9
35.1
106.9
69.8
37.1
111.0
72.4
38.6
116.3
74.3
42.0
118.6
76.4
42.2
Retail trade
_
Durable goods
N endurable goods
102.0
46.3
55.8
105.4
48.4
57.1
107.6
49.7
58.0
111.6
52.4
59.3
114.5
52.5
61.9
118.7
53.9
64.7
47.0
49.1
51.6
53.5
57.8
59.9
Other
Final sales 2
12.7
70 3
Gross investment . .
0
327.9
1 l
0
368 0 336 5
0
351.0
1.1
362 8
1.1
373 1
55
55.99
3.3
4.0
3.9
4.1
.6
-1.3
Inventories
1
34 0
95.5
44.0 —46. 9
17 6 9fl 1
cc o
150 4 1155.3
o
nn
99.o8
o
1.1
.327
.328
.284
.288
.289
336.1
328.9
333.5
335.3
41.3
41.4
41.5
41.7
42.3
281.7
164.1
117.6
284.6
166.2
118.4
287.6
168.9
118.7
292.0
172.2
119.8
293.5
173.2
120.4
293.8
173.8
120.0
Manufacturing
Durable goods
Nondurable goods
135.6
88.9
46.7
136.3
89.5
46.7
138.4
91.5
47.0
141.1
93.5
47.6
142.5
94.5
48.0
143.5
95.9
47.6
Wh olesale trade
Durable goods
Nondurable goods
56.8
38.4
18.4
58.2
39.4
18.9
59.3
39.9
19.3
59.4
39.8
19.6
60.0
40.5
19.6
595
40.0
19.4
Retail trade ._
Durable goods
Nondurable goods
64.4
28.5
35.8
64.8
29.0
35.7
64.4
29.2
35.2
65.8
30.5
35.3
65.3
29.8
35.5
65.1
29.4
35.6
24.9
25.3
25.5
25.7
25.7
25.8
.. .
Other
1 . l1
1
1,192.9 1,212.0 1,214.6 1,200.9 1,222.2 1,232.6
.271
.269
.271
.278
.274
.273
.236
.235
.237
.243
.240
.238
Table 17. — National Income Without Capital Consumption
Adjustment by Industry (6.4)
8.3
National income without capital consumpout
1.865.5 1,916.2 1,947.7 1,997.7
tion adjustment
adjustment
1.796.4 1,865.5
1.977.2 1,796.4
1.766.8 1,977.2
1,766.8
Domestic income
1,746.2 1,952.0 1,775.7 1,844.3 1,892.0 1,924.1 1,970.7
Agriculture, forestry, and
fisheries
54.7
63.4
53.6
60.0
63.9
64.7
62.5
Mining and construction
114.1
132.5
119.2
124.3
123.2
130.5
136.1
Manu facturin g
Nondurable goods
Durable goods
459.5
176.0
283.5
511,0
199.0
312.0
465.8
178.2
287.7
486.2
183.8
302.4
506.5
191.6
314.9
508.6
195.6
313.1
509.8
202.2
307.6
Transportation
68.2
78.5
69.2
73.1
75.8
75.7
79.7
C ommunicati on
40.5
44.9
41.6
42.1
43.0
43.3
46.3
Electric, gas, and sanitary
services
34.9
37.1
34.7
37.1
38.0
36.4
36.2
286.7
120.4
166.3
296.6
123.9
172.7
Wholesale and retail trade...
Wholesale—
Retail
Finance, insurance, and real
estate
Services
Government and governBest of the world
.325
.276
360 4
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.
0 - 8 0 - 3
.317
.271
325.9
Nonfarm 3
» 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 GNP. 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 manu-
307-688
.311
.271
41.2
Final sales 2
Ratio of inventories to
14.0
375.6
.310
322.9
Nonfarm
Durable goods
Nondurable goods
Gross private domestic investment _
351.5 386 2 356 2 370 5 373 8 395 4 392 3 383
383.3
3
Net foreign investment
-23.5 —18.2 —19.6 —19 4 —11 0 —22 3 —16.7 —22
-22. 88
Statistical discrepancy...
1,817.6 1,884.3 1,932.2 1,951.1 2,027.5 2,086.5
Farm
97 5
684.3
Billions of 1972 dollars
-27.7 —10 5 —20 4 —16 3 —11 7 —7 0 —11 3
27.4 24 4 22.7 27.1 27.6
25.3
19 7
Capital grants received by the
United States (net)
IV*
71.5
final sales
364 0 332.7
72 8
III
563.2
Farm
-16.7 -22.8
324.6
72.0
II
Table 16.—Inventories and Final Sales of Business in Current and
Constant Dollars (5.9, 5.10)
Table 15.—Gross Saving and Investment (5.1)
Gross saving
I
Billions of dollars
Table 14.—Foreign Transactions in the National Income and
Product Accounts (4.1)
258.5
IV
Seasonally adjusted at annual rates
Billions of dollars
Receipts from foreigners- 207.2
Exports of goods and services. . 207.2
140.7
Merchandise
66.5
Other
1979
261.8
107.0
154.8
291.3
121.6
169.7
268.6
109.9
158.7
276.8
114.2
162.5
277.8
114.7
163.1
210.7
245.2
238.3
277.6
215.6
249.3
222.8
257.1
227.6
265.9
232.2
271.5
243.2
281.6
256.6
277.4
258.2
264.9
270.2
274.5
278.7
20.5
25.2
20.7
21.2
24.2
23.7
26.9
26.1
SURVEY OF CURRENT BUSINESS
18
1979
1978
1978
1979 »
IV
III
January 1980
I
1978
III
II
1978
IV P
1979 P
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
M anu facturing
Nondurable (roods
Food and kindred
products
Chemicals and allied
product
Petroleum and coal
products
Other
Durable goods
Primary metal industries
Fabricated
metal
products
Machinery,
except
electrical
Electric and electronic
pQUipment
Motor vehicles
and
equipmQnt
Other
Wholesale and retail trade
Gross national product... 152.05 165.50 153.45 156.68 160.22 163.81 167.20
167.7
178.5
176.6
180.8
Personal consumption
penditures
157 5
29.2
128.3
165 2 165 1 175 3 167 0 164.9
31.9
31.0
30 0 31.5 31.0
133.3 135.1 143.8 135.9 133.9
164.9
32.6
132.3
Durable goods
.
Nondurable goods
Services.
10.2
13.3
175.2
10.2
184.8
9.6
178.9
11.9
11.7
15.8
195.2
189.0
1S8.6
170 6 181.9
29 7 33.0
9.6
77
21 9 23.4
178 8
30.6
80
22 6
189 0 181 4 179 6 182.5
32.1 31.9
32.0 33.8
9.7
86
88
92
23 5 23 1 22 8 24.1
140 9 149.0
81 7 89.3
41 4 51.3
148 3 156 9 149 6 147 7 148.7
85 1 90 6 94 91 90 6 86.4
42 7 45 1 48
49 4 53.8
180.8
6.5
5.7
6.4
193.3
5.7
191.3
7.6
198.3
7.8
7.9
7.8
8.9
9.0
8.0
7.1
13 0
14.7
14.1
14.4
14 8
15.1
16.4
17.1
19.5
14.2
21.8
17.1
42.4
46.0
41.2
32.6
4.0
40 3
38.0
25
3 1
45 5
99
38
42
46
49
51
50
54
4.8
8 3
78
98
82
76
7.9
52
6 1
5 1
55
5.2
5.1
89
10 8
9 5
11 0
9 3
13 3
11 4
12 0
74
11.3
-.5
11.2
23 o
25 5
25 8
18 6
22 4
26.5
20.3
21.2
22.7
21.7
18.5
18.0
Other
16.0
16.5
17.9
15.1
16.1
17.8
10 2
96
11 9
11 7
15.8
10 2
Corporate profits before
deduction of capital
consumption allowances, with inventory
valuation adjustment.. 300.6
13.3
326.1
309.6
318.8
321.7
331.1
312.9
38.7
9.6
29.2
299 4 312 I 306.9
36.1 37.8 37.5
80
8.8
86
28.1 29.1 28.8
310.0
37.7
9.2
28.5
315 3
39.6
97
29.9
Nonflnancial
_. 255.2 274.1
132.1 145.1
Manufacturing
Nondurable goods
66.3 78.8
Food and kindred
products
99
Chemicals and allied
product
13.6
Petroleum and coal
21 7
products
Other
21 2
263.3 274.4 269.4
135 5 142 2 147.2
67.6
70.7 74.4
272.3 275.7
145 9 143.0
76.9
81.6
Domestic industries
Financial *
Federal Reserve banks
Other
Durable goods
Primarv metal industries
Fabricated
metal
products
Machinery,
except
electrical
Electric and electronic
equipment
Motor vehicles and
equipment
Other
290 4
35.2
7.8
27.4
65 8
66.3
321.7
10 6
10 7
10 1
12 2
12 5
13 5
14 9
15.2
14.5
13.5
22 7
20 0
23 5
21 5
25 4
23 8
29 0
21 1
31.4
24.2
67 9
71 6
72 7
69.1
61.4
8.8
67
7 3
72
81
86
6.9
7.2
74
7.5
8.1
7.5
13 2
12 8
14 9
13 3
13.0
13.4
90
99
89
9.5
9.4
9.4
13 3
16 8
13 8
16 9
13 5
19 8
16.0
18 4
12.0
17.9
4.6
17.7
36 2
00
39 5
32 5
36 7
41.1
Transportation, communication, and electric,
gas, and sanitary services
49 7
52 2
50.4
50.0
37 3
51 0
37 9
52 7
Other
39 9
37 5
39.4
41.5
10 2
96
11.9
11.7
15.8
Rectofthe world
I][I
10 2
13
A
IV v
Table 19.—Implicit Price Deflators for Gross National Product (7.1)
Transportation, communication, and electric,
gas, and sanitary services .
Rest of the world
II
Index numbers, 1972=100
Table 18.—Corporate Profits by Industry (6.18)
Domestic industries
Financial *
Nonflnancial
I
IV
Seasonally adjusted
Billions of dollars
Corporate profits with
inventory valuation
and capital consumption adjustments
1979
ex-
170.74
150.0
163 3 151 3 153 8 157 8 161 3 165 1
169 0
136.5
154.6
150.9
144.8 137.9 139.4 142.4 144.1
170 9 155 7 158 6 164 1 168 9
163.5 152.3 155. 0 158.0 161.0
145 3
173 2
165 3
147 6
177 3
169 4
164.4
157.8
174.3
179.7
171.3
192.5
166.6 170.3 173.0 177.8 182 4
159 6 162 3 165 4 169 6 173 8
176.5 181.4 185 2 189.0 195 1
185 7
176 6
200 3
150.3
179.7
180.8
180.3
161.2
201.7
203.4
203.3
151.7
183.1
184.3
183.8
153 4
189.5
190.8
189.3
156 4
192.6
194.0
192 7
163 6
205 5
207.3
206 0
164 7
210 1
212.0
211 3
132.3
139.6
133.0
135.6
138 2 139 5 139 6
140 8
203.9
234 5
226 0
278 7
Gross private domestic investment
Fixed in vestment
Nonresidential
Structures
Producers'
durable
equipment
Residential
Nonfarm structures
Farm structures
Producers'
durable
equipment
160 2
199.2
200.7
199 8
Change in business inventories
Net exports of goods and services
190.3 214.9
222.1 255.7
Exports.
Imports
Government purchases of
goods and services
Federal
State and local
191.1 197.6
223 9 227 2
210.1
244 9
218.7
264 0
159.4
173.7
160.5
164 5 167 5 171 3 175 0
180 9
154.8
162.1
167.6
177.2
154.6
163.8
160.1
166.9
176.3
183.6
161.9
170.8
164.8
174.9
167.2
179 3
Table 20.—Fixed-Weighted Price Indexes for Gross National
Product, 1972 Weights (7.2)
168.7
155.7
159.0
162.8
166.6
170.6
174.7
151.6
166.2
153.1
155.9
160.0
163.9
168.4
172.7
137.9
156.9
151.5
146.9
175.1
164.5
139. 3 140.9
158.3 161.6
153.0 155.7
144.2
167.1
158.7
146.1
172.7
161.9
147.8
178.1
166.4
149.8
183.3
170.7
167.2
160.6
170.7
184.4
175.1
189.2
169.5
162.4
172.9
173.9
165.5
177.7
177.1
168.8
181.6
182.2
173.1
186.4
187.2
177.3
191.7
191.2
180.9
196.6
154.8
179.6
167.0
201.9
156.4
182.9
158.5
189.5
101. 5 165.6
192.7 199.3
169.1
205.7
171.8
210.5
192.3
215.3
216.9
248.6
192.9
217 .4
199.2
222.1
205.3
229.6
211.4
240.9
220.5
256.8
227.8
272.8
159.5
174.5
160.6
164.5
168.2
172.0
176.0
182.1
155.8
162.0
170.4
177.3
156.1
163.7
160.8
167.0
164.0
171.1
167.2
175.2
171.1
179.4
180.1
183.5
154.1 168.6
153. 7 168.0
168.4
. . . . . 153.6
153.1 167.4
155.6
155.2
155.2
154. 3
158.9
158.5
158.5
157.2
162.7
162.3
162.3
160.5
166.4
166.0
166.3
164.8
170.4
169.9
170.4
169.3
174.5
173.8
174.2
173.3
Gross national product. . . 154.2
Personal consumption expenditures
Durable goods
Nondurable goods
Services.
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers'
equipment
Residential
durable
Change in business inventories
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
p Preliminary.
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.
NOTE.—Table 18: The industry classification is on a company basis and is based on the 1972
Standard Industrial Classification.
SURVEY OF CURRENT BUSINESS
January 1980
1979
1978
1978
1979 P
I
IV
III
19
II
1978
III
IV v
1978
1979 P
III
1979
IV
I
!
Seasonally adjusted
Gross national product. . 152. 05 165.50 153.45 156. 68 160. 22 163.81 167.20 170.74
165.4
153.4
156.6
160.3
163.5
167.0
170.7
145.4
157.8
146.6
149.7
153.6
157.3
159.1
161.4
Final sales
Change in business inventories
145.2
157.5
146.3
149.3
153.6
156.5
158.6
161.2
Durable goods
Final sales
Change in business inventories
140.9
140.2
Goods
Nondurable goods
Final sales
Change in business inventories
Services
Structures
. . .
141.8
141.2
144.1
143.7
148.8
148.0
151.8
150.2
153.4
152.8
154.7
154.5
148.8
148.7
153.8
176.2
162.0
161.9
167.0
196.8
150.1
149.9
155.1
178.9
153.8
153. 3
158.1
184.6
157.3
157.7
161.4
188.4
161.4
161.1
164.4
193.8
163.2
162.8
168.8
199.8
166.1
165.9
173.4
204.8
Gross national product. _ 152. 05 165.50 153.45 156. 68 160. 22 163.81 167.20 170.74
Business.
_
Nonfarm
Nonfarm less housing
Housing
Farm
Residual
151.5
164.6
152.9
156.1
159.5
151. 0
150.4
151. 9
137.7
174.2
164.3 152.5
163.3 151.8
165.1 153.3
147 9 138.7
200.4 175.5
155.6
154.7
156.2
141.4
190.5
159. 1 162.8
157.6 161.7
159.3 163.6
143.4 145. 6
209.4 201.2
166.1
165.2
167.1
149.1
197.7
169.4
163.1
166.2
153.2
193.7
171.4
160.0
163.3
168.3
169.7
171.6
176.0
165.1 153.8
156 8 145. 3
169 1 158.0
157.6
151.7
160.4
160.7
153.4
164.3
163.3
154.3
167.7
165.7
155.1
170.8
170.7
164 4
173 8
153.1
146.2
156.5
Rest of the world
152. 05 165. 50 153. 45 156. 68 160. 22 163.81 167. 20 170. 74
163.6
177.8
165.2
168.0
170.9
175.4
180.1
184.6
Equals: Net national product.. 150.8
164.2
152.2
155.5
159.1
162.6
165.8
169.3
Equals: National income
163 3 151 6 154 8 158 3
131.8
153.4
138.6
167.4
131.0
154.8
131.6
158.5
135. 1 137.7
162.1
165.6
139.2
142.4
169.1
NOTE.—Table 21: "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.
Tables 88 and 24: The industry classification within the business sector is on an establishment basis and is based on the 1972 Standard Industrial Classification.
152.2
155.5
159.1
162.6
165.8
161 8 164 8
149.4 162.7 150. 9 154.1 157.6 161.2
148.9 161 6 150.3 153 1 156 1 160 1
175 8 207 2 177 4 197 5 222 2 OAQ A
169.3
1£O
1
164,4 167.4
163 4
909 Q
- ~~ - - • -
171.6 176.0
165 7 17ft 7
153.4
167.4
154.8
158.5
162.1
165.6
169 1
152.6
166.3
154.1
157.7
161.2
164 7 168 0
152.2
151.9
162.2
166 3
165.7
184 1
153 9 157 5 161 0 164 7 168 1
153.6 156 7 159 9 164 1 167 8
162 6 186 2 199 0 186 2 179 3
Households and institutions _ 159.6
Government
153.1
171.4
165.1
160.0
153.8
Rest of the world
_
Domestic income
Business
Nonfarm
Farm
...
_____
163.3
157.6
172 8
168.3 169.7 171.6 176.0
160 7 163 3 165 7 170 7
Rest of the world
Table 25.—Implicit Price Deflators for Auto Output (7.9)
Auto output
141.0
147 7 142 9 143 0 145 0 146 6 149 8 150 2
140.4
148.6
142.6
143.0
146.5
148.2
Personal consumption expenditures
New autos
Net purchases of used
autos
149.8
138.4
160 0 152.6
149.2 140.6
153.9
141.0
157. 3
144.8
160 4 160.9
148.9 152.1
162 0
151.9
Producers' durable equipment
New autos __ _
Net purchases of used
autos
126.8
138.6
133 4 128.7
149.3 140.6
126.2
141.2
127.1
144.8
141.8
149.0
140.0
152.2
134.9
152.0
149.8
196.0
140.8
177.9
141.4
180.2
145.1
184.4
149.2
198.6
152.5
199.8
152.2
200.9
141.3
155.8
143.4
144.5
144.8
154.0
162.4
166.6
138.5
138.5
149.2
149.4
140.7
140.7
140.9
141.1
144.7
144.9
148.8
148.9
152.6
152.1
152.0
151.9
_
-.,
.
_-_ 138.8
174.3
Government purchases of
goods and services. _
149 7 150 2
Change in business inventories of new and used autos
Addenda:
Domestic
output of new
autos 1
Sales of imported new autos 2
Table 26.—Implicit Price Deflators for Personal Consumption
Expenditures by Major Type of Product (7.11)
Personal consumption
expenditures
•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.
164.2
150.2
160.0 163.3 168.3 169.7
153 8 157 6 160 7 ICO O
Net exports
Exports
Imports
Table 23.—Implicit Price Deflators for the Relation of Gross National Product, Net National Product, and National Income
(7.6)
Less: Indirect business tax
and nontax liability
plus business transfer
payments less subsidies plus current
surplus of government
enterprises
Residual
150.8
171.4
165 1
Final sales
Government. _
Federal
State and local ..
Less: Capital
consumption
allowances with capital consumption adjustment
Business
Nonfarm
Farm
Residual
169.7
Households and institutions _ 159. 6
Gross national product
Net national product
Net domestic product
National income
Table 22.—Implicit Price Deflators for Gross National Product
by Sector (7.5)
Gross domestic product
Table 24.—Implicit Price Deflators for Net National Product and
National Income by Sector (7.7)
Households and institutions . 159.6
G o vernment
153 1
152.1
151.4
IV P
Index numbers, 1972=100
Table 21.—Implicit Price Deflators for Gross National Product by
Major Type of Product (7.3)
152.0
III
Seasonally adjusted
Index numbers, 1972=100
Final sales
Change in business inventories
II
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
150.0
136.5
145.5
163.3
144.8
156.0
151.3
153.8
157.8
161.3
165.1
169.0
137.9
139.4
142.4
144.1
145.3
147.6
148.0
149.0
152.8
156.1
157.2
158.5
133.5
137.3
135.0
139.5
135.7
142.8
138.1
147.8
128.7
132.7
135.6
141.9
129.5
133.1
131.4
135.2
154.6
170.9
155.7
158.6
164.1
168.9
173.2
177.3
162.5
- 125.5
182.1
253.3
146.9
-
178.8
129.6
243.8
352.5
156.3
164.7
125.5
182.3
253.8
148.1
168.3
126.7
189.1
262.7
150.0
175.1
127.2
200.9
279.2
153. 0
178.0
129.4
230.3
323.9
155.1
179.0
130.1
264.8
393.6
157.0
182.8
131.7
284.9
425.5
160.0
150.9
163.5
152.3
155.0
158.0
161.0
165.3
169.4
140.7
156.0
183.8
137.8
151.3
158.2
151.4
166.7
203.5
143.0
162.9
173.6
141.7
158.2
188.4
139.0
152.0
159.8
144. 5
158.4
187.0
140.0
154.0
163.3
146.8
161.0
189.8
141.1
157.2
167.4
149.0
164.3
198.4
142.2
160.4
170 9
152.6
169.5
211.0
143.5
164.4
175.7
156.9
172.0
215.9
144.9
169.4
180.3
SURVEY OF CURRENT BUSINESS
20
1979
1978
1978
1979 p
III
January 1980
IV
I
II
1978
in
IVp
1978
1979 P
III
Seasonally adjusted
Percent
1979
I
IV
II
III
IVp
Seasonally adjusted
Percent at annual rate
Percent
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)
Table 27 .—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price
Deflator, and Price Indexes (8.9)—Continued
Gross national product:
Current dollars
1979 dollars
Implicit price deflator
Chain pricp index
Fixed-weighted price index...
12.0
4.4
7.3
7.4
7.5
11.3
2.3
8.8
8.9
9.4
10.9
3.5
7.2
8.2
8.3
14.8
5.6
8.7
8.6
8.9
10.6
1.1
9.3
9.7
9.9
6.7
-2.3
9.3
8.8
9.5
11.9
3.1
8.5
8.9
10.0
10.3
1.4
8.7
9.2
9.9
Exports:
Current dollars
1972 dollars' Implicit price deflator
Chain price index
Fixed-weighted price index- . .
17.8
10.6
6.5
6.1
6.0
24 2
10 0
12 9
12 5
12.8
16 8
10 2
60
7 1
6.9
22 3
7 1
14 2
13 3
13.8
Personal consumption expenditures:
Current dollars
1972 dollar5?
Implicit price deflator
Chain price index
Fixed-weighted price index...
11.6
4.5
6.8
7.0
7.1
11.8
2 6
89
9.3
9.6
11.9
4.8
6.8
7.1
7.2
14.2
6.8
6.9
7.2
7.4
11.4
.6
10.8
10.4
11.0
6.1
-2.9
9.3
10.0
10.3
15.0
4.9
9.7
10.6
11.3
14.3
4.1
9.8
10.3
10.6
Imports:
Current dollars..- . _
1972 dollars
Implicit price deflator
Chain price index . .
Fixed-weighted price index...
17.1
11 1
5.4
7.7
8.0
20 0
42
15 1
16 8
15.5
14 3
70
6 8
41
4.0
16 9
9 2
10 2 —3 8
6 1 13 5
8 6 13 7
9.1
14.1
Durable goods:
Current dollars
jQ72 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
12.0
6.1
5.5
5.6
6.3
.2
6.1
6.4
6.4
-.7
7.1
7.3
18.1
13.0
4.5
4.8
3.3 - 9 . 2
—5.0 —13.6
8.7
5.0
9.2
5.5
9.2
5.8
3.2
4.6
4.1
-2.3
6.5
6.3
5.8
6.5
7.5
4.7
9.4
5.4
4.7
5.7
Government purchases of goods
and services:
Current dollars.1972 dollars ..
Implicit price deflator
Chain price index _
Fixed-weighted price index...
9.9
1.8
80
7.7
7.8
93
3
89
9 2
9.4
12 3
50
69
76
7.6
12 2
56
1 8 —1 8
76
10 2
94
9 5
9.4
10.0
Nondurable goods:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
10.2
3.2
6.8
7.2
7.3
12.5
1.8
10.6
11.3
11.9
6.3
5.3
6.2
6.4
16.9
8.6
7.7
8.1
9.6
-4.2
14.5
13.8
7.3
-4.5
12.3
13.9
17 1
6.1
10.5
11.9
18.6
8.0
9.8
11.3
5 7
—2 0
7.8
71
9 0
7
8.3
89
18 7
3 2
15.0
13 0
8.4
14.5
14.0
13 1
12 1
6.9
9.4
11 7
8 2
3.2
55
5.3
12 4
40
8.1
8.0
95
2
9.3
93
8.3
9 4
12 6
3 3
9.0
8 7
9 1
Final sales:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index. _.
12 1
44
7.4
74
7.5
11 6
2 6
8 8
89
9'. 4
12 3
46
74
82
8.3
14 8
5 7
8 6
86
8.8
11 0
11
9 8
97
9.9
Gross domestic product:
Current dollars. ..
1972 dollars..
Implicit price deflator
Chain price index
Fixed-weighted price index. . .
12 0
4.4
7 3
74
7.5
11 2
23
8 7
88
9.3
11 1
36
7 2
8 2
8.3
14 8
5 6
8 7
8 7
8.9
10 1
Business:
Current dollars
1972 dollars
Implicit price deflator. .
Chain price index
Fixed-weighted price
index
12 4
4 7
7.3
7.4
7.6
11 6
2 5
8.9
9.0
11 7
3 9
7.5
8.6
88
15 5
64
8.5
8.5
1 A
1
1
0
Nonfarm:
C urrent dollars
1972 dollars
Implicit price index
Chain price index
Fixed-weighted price
index
12.4
54
6.7
6.9
11.4
2 6
8.5
8.8
14.9
66
7.8
7.6
70
93
11.9
4 5
7.0
8.7
8 9
11 7
4.6
11 3
2.2
11 4
4 2
Services:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Gross private domestic investment:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
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
11.7
12.7
5.1
7.3
7.3
12.9
4.2
8.3
8.5
13.8
5.5
7.9
7.8
7.3
8.5
7.8
10.6
3.2
7.2
7.2
7.3
15.8
7.1
8.2
8.0
10.4
2.5
7.7
8.2
15 1
36
11.1
11.4
13 8
32
10.3
10.7
8.1
8.2
11 6
10 7
State and local:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted
price
index . . .
44 5
23 0
17 0
18 0
18.5
20 6
5 8
13 9
13 5
13.9
33 2
12 1
18 9
24 4
21.2
31 2
29
35 2
34 9
29.1
29 9
4 5
24 2
28 3
27.3
5 Q
9 0
9.2
10 0
10
8 9
9 4
9.8
19 7
47
14 3
13 5
14.5
12 1
7 2
4.6
7 6
8.2
46
11 3
7.5
73
31
26
5.9
85
on Q
12 6
23.7
91 9
7.9
9.8
22.6
23
89
1 0 —6 6
7.8
9.5
7 7 10.3
8 2 10 1
Ho
1 6
10.1
9 9
13 8
31
10.4
10 0
1ft A.
10 0
9 9
12.8
33
9
A
9.8
9 6
9 5
Addenda:
15.9
7.1
9.9
.2
4.5
-5.0
17.1
6.6
3.6
—.5
17.0
7.1
9.2
9.5
11.7
2.2
9.3
10.0
12.3
1.2
11.0
11.2
17.4
7.5
9.2
10.0
5.6
—1.0
6.7
7.6
9.7
10.3
11.5
10.6
7.7
25.2
8.5
85
— 2*7
11.5
11.9
12.0
—3 0 —8 9
12 8 — 14 1
— 9
18 7
7 2 —7 7
7.3
10.8
11 0
8 4
87
11 3
16.7
8.4
7.7
7.9
14 8
5.8
8.6
8.8
13.7
3.9
9.4
9.3
19.3
11.3
7.2
7.6
12 9
4.8
7.7
7.8
96
— 8
10.6
10.8
22 o
10 7
10'.2
9.9
7
—6 9
6.7
7.9
8.0
9.0
9.5
8.0
8.2
10.7
10 1
8 2
22.2
12.2
8.9
9.2
20.6
9.1
10.5
11.0
25.9
12.3
12.1
12.7
25.9
12.7
11.8
12.2
2.4
—5.6
8.5
9.1
29 1
19 0
8.5
10.7
21 7
71
13.6
11.8
16 3
47
11.1
10.7
9.0
10.8
12.5
11.6
9.1
10 9
11 8
10.7
Producers'
durable
equipment:
Current dollars
1972 dollars
Implicit price deflator..
Chain price index
Fixed-weighted price
index
14.1
6.7
6.8
7.3
7.7
.2
7.4
7.6
15.8
10.7
4.6
5.1
19.0
10.1
8.2
7.1
2
—8.9
10.0
10.8
7.4
11.8
4.2
7.2
7.6
7 8
7.7
5.7
7.6
10 5
89
Residential:
Current dollars
1972 dollars
Implicit price deflator. .
Chain price index
Fixed-weighted price
index
17.5
4.2
12.8
12.9
5.5
—6.1
12.3
12.4
9.5
-4.9
15.2
15.2
13.5 - 8 . 5
- 1 . 1 -14.3
14.8
6.7
15.1
7.0
6.1
-7.2
14.3
14.3
11.7
-1.5
13.4
13.5
— 1.6
-9.8
9.1
9.5
12.8
12.4
15.0
14.3
13.5
9.7
Federal:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price
index
26 4
91
11 5 —3 1
13 4 12 6
12 8 11 9
12.9
12.4
15.1
7.0
22 2 —9.5
12.5 - 1 2 . 1
2.9
8.7
6.3
8.9
66
Disposable personal income:
Current dollars
1972 dollars-
9.6
Q C
15 8
6 4
88
Q
Q
U Q
2 5
91
91
9.9
9.5
10.0
R Q
9 1
Q 9
11 5
32
8 0
84
9.6
10 6
18
19 1
34
8.4
8.9
•in o
9 1
9.8
9.1
10 1
10 4
92
7.5
2 8
10.6
10.1
10.8
16
9.0
9.4
2~1
7 7
9.8
17
7.9
8.5
85
11 3
11 2
13 8
64
13 0
2 i
7 7
—1 4
99
2
8 7
9
91
9 6
9.9
9.1
9.7
10 0
87
9.4
7n
8
a
89
9.7
8.0
8.3
9g
o
p Preliminary.
NOTE.—Table 27: The implicit price deflator for G N P is a weighted average of the detailed
price indexes used in the deflation of G N P . 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, comparison over any timespan reflect only changes in prices.
By JOHN T. WOODWARD
Plant and Equipment Expenditures: Year 1980
BUSINESS plans to spend $195.7 purchased by them increased 9% perbillion for new plant and equipment in cent in 1979; they expect capital goods
1980, 10.9 percent more than in 1979,
according to the survey conducted in
1. For estimates of prior years, see pages 25-40 of "Revised
Estimates of New Plant and Equipment Expenditures,
late November and December (table 1). 1947-69:
Part I" in the January 1970 SURVEY OF CURRENT
This is the first BEA survey that covers BUSINESS and the March 1970, 1972, 1974, 1976, and 1978
issues.
the year 1980. Estimated 1979 spend- SURVEY
The estimate for 1979 is based on actual expenditures in the
ing, based on the survey conducted a first three quarters and plans for the fourth quarter. The
plans were adjusted for systematic biases by procedures
month earlier, is $176.4 billion, 14.7 described
on pages 36-39 of the February 1970 SURVEY.
1
percent more than in 1978.
The 1980 plans also were adjusted for systematic biases.
Before adjustment, plans were $90.12 billion for manufacturThese data are not adjusted for price ing
and $105.80 billion for nonmanufacturing; the net effect
change. The implicit price deflator for of the adjustments was to lower manufacturing $0.61 billion
and to raise nonmanufacturing $0.36 billion. The bias adthe nonresidential fixed investment justments,
which are computed separately for each major
component of GNP increased 8^ per- industry, were applied only when plans deviated from actual
spending in the same direction for 5 of the last 7 years. In
cent in 1979. Survey respondents re- these
cases, the adjustment used was the median deviation
ported that prices of capital goods between actual and planned spending in the last 5 years.
Table 1.—Expenditures for New Plant and Equipment by U.S. Business J
1978
1979 P
1980 2
Billions of dollars
AH industries
Manufacturing
Durable goods .
Primary metals 3
Blast furnaces, steel works
Nonferrous metals. _
Electrical machinerv
Machinery, except electrical3
Transportation equipment _ _ __ _
Motor vehicles
Aircraft *
Stone, clay, and5 glass _ _ _ _ _
Other durables
Nondurable goods
Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
Other non durables *
—
___
__ _ .
_ _ _
. __
__ __
Nonmanufacturing
Mining
Railroad
Air transportation
___
Other transportation
Public utilities
Electric..
Gas and other
Communication, commercial and other 7
_
__
1978-79
1979-80
Percent change
153.82
176.37
195.67
14.7
10.9
67.62
78.30
89.51
15.8
14.3
31.66
37.89
43.76
19.7
15.5
5.87
2.46
2.45
3.98
6.29
6.40
4.65
1.51
2.46
6.65
6.54
2.90
2.63
5.06
8.15
7.80
5.38
2.14
2.88
7.48
7.52
3.36
2.99
6.05
9.62
8.79
5.76
2.76
3.29
8.48
11.4
17.8
7.5
26.9
29.4
21.9
15.6
41.3
16.9
12.4
15.0
16.1
13.4
19.8
18.0
12.7
7.2
28.9
14.5
13.5
35.96
40.41
45.75
12.4
13.2
4.87
1.04
3.46
7.10
15.50
1.75
2.24
5.08
1.03
4.84
8.41
16.47
1.86
2.72
5.41
1.18
5.96
9.08
19.07
2.03
3.02
4.3
—.9
39.5
18.4
6.3
6.4
21.7
6.4
14.6
23.2
8.0
15.8
9.2
11.1
86.19
98.07
106. 16
13.8
8.3
4.78
3.32
2.30
2.43
29.48
24.79
4.70
43.87
5.52
3.88
3.34
2.97
33.18
28.19
4.99
49.17
6.45
4.40
3.44
3.41
34.39
29.23
5.17
54.07
15.6
17.0
44.8
22.3
12.6
13.7
6.3
12.1
16.8
13.1
3.2
14.6
3.6
3.7
3.5
10.0
» Preliminary.
1. Excludes agricultural business; real estate; medical, legal, educational, and cultural services; and nonprofit organizations.
2. Planned capital expenditures reported by business in late November and December 1979. Plans 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.
prices to increase 10 percent in 1980
(table 2).2 This information indicates
that real spending increased 4H-5}_
percent in 1979 and implies an increase
in planned real spending in 1980 of 1-2
percent.
For the 10 years that the NovemberDecember surveys have been taken,
actual year-to-year changes in spending
have deviated from planned changes by
less than 1% percentage points in 6 of
these years (chart 9). Plans significantly
overstated the spending increases in the
recession years 1970 and 1975—3.8 and
4.3 percentage points, respectively. In
1978 and 1979, plans understated increases by 2.6 and 3.5 percentage
points. There are many uncertainties
about the economic outlook for 1980,
2. Respondents were asked:
"What are your best estimates of average price changes
from 1978 to 1979 and expected price changes from 1979 to
1980:
"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' responses on capital goods and sales price changes were weighted
by their reported capital expenditures and sales, respectively
Table 2.—Change in Prices of Capital Goods
Purchased
[Percent change from preceding year]
Reported in
Nov.-Dec.
1978 survey
Reported in
Nov.-Dec.
1979 survey
Actual Expected Actual Expected
1980
1979
1979
1978
All industries
Manufacturing
Durable goods _
Nondurable goods . . .
8.1
9.6
9.9
8.4
8.3
10.0
10.3
8.5
8.4
8.5
8.1
10.2
9.8
10.5
10.1
8.0
Nonmanufacturing
7.7
7.9
9.2
9.5
Mining
Transportation
10.6
8.2
10.7
8.4
12.6
12.2
13.1
12.4
9.3
7.8
7.8
9.4
8.2
8.6
Public utilities
Communication,
commercial, and
other
7.1
7.6
21
SURVEY OF CURRENT BUSINESS
22
CHART 9
January 1980
Table 3.—Percent Change in Business Sales 1
Planned and Actual Capital Spending
1980
1979
Percent change from preceding year
Expected as
reported in:
16
14
Planned
Jan.
1979
Actual
Manufacturing. _
12
10
1970
71
76
77
78
79
80
Note - Planned spending estimates from November-December surveys.
Estimate of 1979 actual spending is preliminary.
U.S. Department of Commerce, Bureau of Economic Analysis
and it is not known to what extent these
uncertainties are reflected in investment plans. However, if there were a
recession in 1980, as is quite possible,
investment plans would probably be
scaled down.
Manufacturing industries plan spending of $89.5 billion, 14% percent more
than in 1979; the 1979 increase was
16 percent. All major manufacturing
industries plan increases in 1980. The
largest increases are planned by aircraft, 29 percent; paper, 23 percent;
and electrical machinery, 20 percent.
Increases between 16 and 18 percent
are planned by nonelectrical machinery,
iron and steel, and petroleum. Increases between 13 and 15 percent are
planned by textiles, stone-clay-glass,
nonferrous metals, and "other durables." The year-to-year changes in
investment programs of nonferrous
metals, textiles, and petroleum show
more strength than last year; changes
in the programs of the machinery and
transportation groups, paper, chemicals,
and "other nondurables" show less
strength.
Nonmanufacturing industries plan
spending of $106.2 billion, 8}£ percent
more than in 1979; last year, their
spending increased 14 percent. All nonmanufacturing industries except mining
plan smaller increases this year than
last. The largest increases for 1980 are
planned by mining, 17 percent; "other
transportation," 14^ percent; and railroads, 13 percent. The "communications and commercial" group plans a
10-percent increase. Electric and gas
utilities plan increases of 3K percent;
last year, electric utilities increased
their spending almost 14 percent. Airlines plan a 3-percent increase; these
firms increased spending more than 40
percent in 1978 and 1979.
9.9
10.4
13.4
10.0
10.6
8.9
10.6
11.2
12.1
17.9
9.2
9.9
12.2
10.8
15.5
11.7
Durable goods !
Primary metals. ..
Electrical
machinery
Machinery, except electrical --Transportation
equipment
Stone, clay, and
glass
10.9
Nondurable goods 1.
Food including
beverage
TextilesPaper
Chemicals.
Petroleum
Rubber...
9.2
9.4
8.7
7.5
11.6
7.6
7.4
Trade
.
Mar.
1979
Expected
as
Actual reported
in
Jan.
1980
12.6
10.3
7.5
11.1
12.4
7.5
6.5
10.2
10.2
8.9
9.0
11.0
12.5
10.1
4.2
6.2
10.2
6.4
14.9
11.0
6.7
14.7
17.7
28.2
12.5
10.9
9.9
7.0
10.8
12.7
14.1
10.4
10.6
9.5
14.0
10.0
Wholesale
Retail
9.6
11.5
9.6
9.4
17.1
11.0
8.7
11.2
Public utilities
11.0
10.2
17.2
16.0
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
1979, and BEA estimates for December 1979. Trade data are
from Bureau of the Census, Current Business Reports,
Monthly Wholesale Trade and Monthly Retail Trade, and
BEA estimates for December 1979. Public utilityfiguresare
estimated by BEA on basis of data collected in the annual
business investment surveys.
Public utilities expect a 16-percent increase; they had a 17-percent increase
in 1979, compared with an expected 11
percent.
Manufacturers expect the prices of
their goods and services sold to increase
8}£ percent this year, slightly less than
the 9 percent they reported for last
year; they had expected 6 percent last
year (table 4). Public utilities expect
an 11-percent increase, compared with
12 percent for last year; they had expected 8 percent last year.
Table 4.—Change in Prices of Products and
Services Sold by Manufacturing and
Utility Companies
[Percent change from preceding year]
Sales and sales prices
Manufacturers expect their sales to
increase 10 percent in 1980 (table 3).
The actual increase in 1979 was 13 }£
percent, compared with an expected increase of 10 percent reported at this
time last year. Trade firms also expect
an increase of 10 percent; last year,
they had a 14-percent increase, compared with an expected 10K percent.
Reported in
Nov.-Dec.
1978 survey
Actual
1978
Manufacturing
Durable goods
Nondurable goods
Public utilities
Expected
1979
Reported in
Nov.-Dec.
1979 survey
Actual
1979
Expected
1980
6.4
6.2
9.2
8.5
6.7
6.1
6.3
6.0
7.5
11.1
7.8
9.3
9.1
7.8
12.1
11.2
By DAVID J. LEVIN
State and Local Government Fiscal Position in 1979
JL HE State and local government
surplus on a national income and product accounting (NIPA) basis was
$24.4 billion in 1979, down $3 billion
from the surplus in 1978. The decline
was the result of a deceleration in the
growth of receipts; at 7 percent, growth
was the lowest since 1954. A deceleration in spending growth limited
the decline in the surplus.
The decline in the surplus reflected
a $3^ billion increase in the surplus of
social insurance funds and a swing of
$6% billion from surplus to deficit in
other funds. This swing resulted mainly
from tax reductions that became law
in 1978 and 1979. The largest of these
was the reduction in local government
property taxes under California's Proposition 13; numerous other changes involved personal income and general
sales taxes. Taxpayers' concern about
the effects of inflation on them was
probably the prime motive for these reductions. The vote for Proposition 13
reflected taxpayers' concern that inflation-generated increases in property
values were precursors of rising property taxes. Several States introduced indexing techniques intended to sever
the relationship between inflation in
incomes and increasing effective tax
rates on these incomes.
Receipts
State and local government receipts
increased 7 percent in 1979, compared
with 11 percent in 1978 and 11% percent in 1977 (table 1). Deceleration
occured in all major receipts categories
except corporate profits tax accruals,
which increased 15 percent in both
1978 and 1979.
Growth of general own-source receipts—that is, personal tax and nontax
receipts, corporate profits tax accruals,
and indirect business tax and nontax
accruals—decelerated, as it had also
in the 2 preceding years (chart 10).
Law changes were responsible for the
deceleration in 1978; slower personal
income growth and a decline in gasoline
usage were responsible in 1979.
Personal tax and nontax receipts increased 9 percent, down from 13 percent in 1978. Income taxes, their largest
component, increased only 6K percent,
down from 15 percent. Income tax law
changes in 1979, coupled with the effects
of 1978 legislation (especially in California and New York), reduced personal
tax growth by 3% percentage points in
1979 and 1% points in 1978.
Most of the income tax law changes
involved more than simple rate reductions. A number included indexation
in some form. Arguments for indexation, which is more widely used abroad
than in the United States, start from
the observation that, given a progressive income tax structure, increases in
dollar incomes give rise to increased
effective tax rates. As a result, the proportion of total income retained by taxpayers declines, and the proportion
received by government as tax revenue
increases. If inflation is the source of
the dollar increase in income, taxpayers
suffer a loss of real income. Proponents
of indexation argue that such a redistribution of real income should be
the result of conscious legislative decision, rather than the unintended effects
of the tax structure.
Under indexation, any or all three of
the determinants of tax liability that
are stated in dollar amounts—personal
exemptions and deductions as well as
tax rate brackets—are adjusted, i.e.,
indexed, to reflect changes in the price
level. For example, in Arizona, each
year the value of personal exemptions
Table 1.—State and Local Government Receipts, NIPA Basis
Calendar years
Percent change
Billions of dollars
1975
1976
1977
236.9
268.0
165.9
187.2
.
43.4
22.8
14.5
6.1
49.9
26.8
16.4
6.8
7. 1
9.3
10.9
Indirect business tax and nontax accruals .
Sales taxes . _ _
Property taxes
Other .
115.4
51.5
52.8
11.1
128.0
57.8
57.9
12.3
140.0
63.9
62.4
13.7
Receipts
General own-source receipts
Personal tax and nontax receipts
Income taxes
...
Nontaxes
Other .
Corporate profits tax accruals
1979
1979
298.8
331.0
354.4
13.1
11.5
10.8
7.1
207.7
226.6
243.8
12.9
11.0
9.1
7.6
56.8
30.9
18.5
7.4
64.1
35.5
20.8
7.8
69.9
37.9
23.7
8.3
14.9
17.2
13.5
9.8
13.8
15.5
12.5
10.2
12.9
14.9
12.8
4.7
9.1
6.6
14.0
7.0
12.5
14.3
31.0
17.4
14.9
15.0
150.0
71.3
63.2
15.5
159.5
78.1
63.9
17.5
11.0
12.1
9.8
11.3
9.4
10.6
7.6
11.6
7.1
11.6
1.3
12.7
6.3
9.6
1.2
12.8
P
1976
1977
1978
1978
P
Contributions for social insurance
16.4
19.7
23.6
27.1
30.5
20.4
19.6
14.8
12.6
Federal grants-in-aid
54.6
61.1
67.5
77.3
80.1
11.9
10.5
14.6
3.6
236.2
165.2
266.9
186.1
297.8
206.7
334.3
229.9
362.8
252.3
13.0
12.6
11.6
11.1
12.2
11.2
8.6
9.8
Addenda: Receipts, excluding selected law
changes:
Total.
General own-source receipts
v Preliminary.
NOTE.—Estimates of the effects of law changes are not comprehensive, either in coverage or type of tax. They represent
major law changes identified for personal income, sales, and business property taxes.
23
SURVEY OF CURRENT BUSINESS
24
and of the standard deduction is in- 1980. Oregon will begin in 1981. Several
creased by the amount of the increase other States will consider indexing
in the Consumer Price Index for the systems during this year's legislative
Phoenix metropolitan area. Specific de- sessions.
A new technique was introduced in
ductions, such as for property taxes,
are not indexed because they move of 1979 for dealing with a problem created
their own accord with an increase in by tax changes legislated after the
the price level. Of the 41 States im- beginning of the tax year. The problem
posing income taxes on wages and is that of matching liabilities and
salaries, none had indexation in 1977. withholding. If withholding is reduced
In 1978, California, Colorado, and Ari- to levels appropriate for liability for
zona began indexing. Iowa and Minne- the entire year, and those levels are
sota began in 1979, and Wisconsin in introduced after the beginning of the
year, there are larger refunds (or
smaller final settlements) than if liability had not been changed. Net
State and Local Government General
government revenues may be reduced
Own-Source Receipts: Percent Change
sufficiently
to cause cash-flow problems
From Preceding Year
in the months when settlements occur.
If, to prevent this, withholding is set to
put the entire year's reduction in
liability into the part of the year
remaining after the tax cut, withholding
must be raised at the beginning of the
next year, giving the appearance of a
tax increase. The new technique is
designed to avoid both difficulties. It
sets withholding at the rate appropriate
for the new liability, and puts that rate
into effect only for as many months as
required for withholding to approximate
liabilities; withholding is suspended for
a period between the end of old withholding rates and the beginning of the
new ones. The first State to use this
technique was Wisconsin. It suspended
withholding for two months after passage of a tax reduction measure. Later,
Montana suspended withholding for
one month after an increase in the value
of exemptions; Kansas took a similar
action. The technique had popular
appeal because, during the suspension
of withholding, taxpayer disposable
income was higher.
Personal nontaxes—chiefly tuition
and hospital charges—increased 14 percent in 1979, a little more than in 1978.
The step-up was largely the result of
new and/or increased charges imposed
in California after passage of Proposition 13. (See "Proposition 13: One Year
Later" in the October 1979 issue of the
SURVEY OF CURRENT BUSINESS.)
1976
1977
1978
U.S. Department of Commerce, Bureau of Economic Analysis
1979
so-i-io
Indirect business tax and nontax
accruals increased 6% percent, a little
less than in 1978. A decline in highway
gasoline consumption accounted for
January 1980
most of the deceleration. Sales taxes,
which in recent years have become the
largest component of indirect business
taxes, increased almost 10 percent in
1979, compared with 11% percent in
1978. The effect of law changes on the
sales tax total for 1979 was only $0.1
billion, but there were larger offsetting
changes in many components. The
largest legislated increases in 1979 were
in gasoline taxes. In virtually all States,
these revenues are dedicated to the
construction, maintenance, and operation of highways. A combination of slow
revenue growth—partly due to shortages of gasoline, but more importantly
to the increasing proportion of more
fuel-efficient vehicles in the total
stock—and increasing costs of highway
construction and maintenance forced
many highway departments to defer
maintenance or cut back construction.
Legislatures in a number of States responded with gasoline tax increases.
Offsetting these law changes were reductions in general sales taxes, which,
with one minor exception, involved
changes in the tax base, rather than
rates. West Virginia began a removal of
grocery food sales from the tax base.
Five States removed residential purchases of some utility services or heating
fuel, and others partly or totally
removed business equipment. Of the 45
States imposing general sales taxes,
more than one-half now exempt grocery
food sales, and some of those that impose such a tax allow special income tax
credits or deductions for taxes paid on
food sales.
Property tax growth decelerated in
1977 and 1978—in 1978, largely due to
California's Proposition 13. The absence
of further deceleration in 1979, when
the increase was again less than 1}£
percent, suggests that Proposition 13
was not widely imitated outside California, at least with respect to property
taxes. Measures of similar intent have
been imposed on local governments in
States other than California, but apparently none has as yet had a major
effect on overall property tax growth.
One local jurisdiction, Prince Georges
County in Maryland, imposed a unique
zero-growth limitation on property tax
collections for the county, so that addi-
January 1980
SURVEY OF CURRENT BUSINESS
Table 2.—State and Local Government Expenditures, NIPA Basis
25
CETA employment declined by more
than
100,000 while total State and
Calendar years
local employment remained almost
Billions of dollars
Percent change
unchanged.
After six years of experience with
1975
1979 P
1976
1976
1977
1979 P
1977
1978
1978
CETA programs, there remain un329.9
Expenditures
8.4
250.1 271.9
8.8
8.7
230.6
303.6
11.6
answered questions about the extent
Purchases of goods and services
215.4
231.6
283.0
309.8
7.5
12.4
9.5
8.7
251.8
to
which CETA employees in local
Compensation of employees
119.6
131.2
157.8
171.4
9.6
9.8
8.6
143.7
9.6
Structures
34.7
32.3
31.1
37.6
40.0
-6.9
21.0
6.3
-3.5
governments
replace regular employees
Medical vendor payments
15.5
12.4
14.2
17.2
19.2
14.0
10.8
11.8
9.6
61.4
54.0
70.4
79.2
11.0
14.6
12.5
Other purchases
48.6
13.7
that would have been employed in the
Transfer payments to persons
36.3
24.5
27.4
11.6
10.5
30.2
33.3
10.2
8.8
absence of the CETA program, and
16.5
Benefits from social insurance funds.. _. .
9.6
11.1
15.0
13.0
14.4
12.8
14.4
15.4
14.0
2.5
11.9
12.8
7.8
1.3
Direct relief
13.5
13.6
4.9
about pay differentials between CETA
10.0
3.0
3.5
15.8
33.5
3.9
5.2
5.8
13.0
Other.
and regular employees. It is not possible
Net interest paid
-4.1
-9.5
-4.8
-4.9
-7.1
15.9
13.4
8.5
Interest paid
- _.
11.0
12.5
13.9
7.6
6.2
15.0
to
determine the extent to which the
25.5
5.1
15.4
Less: Interest received by government
15.8
18.9
14.1
16.6
22.1
16.6
employment
shift in 1979 represented
Subsidies less current surplus of government
-4.5
enterprises _
-4.8
-5.0
-5.5
-6.7
a
direct
movement
of former CETA
.2
.2
.2
.3
19.6
37.7
Subsidies
.
.2
11.1
13.8
Less: Current surplus of government enteremployees
into
regular
positions. How5.0
7.0
7.9
4.7
5.3
4.8
9.0
22.7
prises
5.7
ever,
on
the
assumption
that this move0
0
0
-.1
Less: Wage accruals less disbursements
.2
ment did occur to a substantial degree,
' Preliminary.
it is possible to draw some tentative
conclusions about average pay for the
tions to taxable property will reduce 3 years. Shifts in the funding of State- "new" regulars. Average pay for nontax liability for all other property. local government employment through CETA employees registered annual
Limitations of this severity apparently the Federal Comprehensive Employ- increases of about 8 percent in 1977-79,
have not been imposed elsewhere.
ment and Training Act (CETA) have while CETA average pay registered
Federal grants-in-aid contributed had a major effect on the pattern of little change. Given the 8K-percent
strongly to the deceleration in total changes in employment (chart 11). increase in 1979 total compensation,
receipts. They increased only 3K per- CETA was responsible for 25-35 per- and virtually no change in total emcent, down from 15 percent in 1978. cent of employment growth for States ployment, it is evident that average
Grants for local public works were down and localities in 1976 and 1977, and pay for the "new" regular employees
about $2 billion, from $3 billion in 1978, about 75 percent in 1978. In 1979, exceeded that of the workers who left
as funds appropriated in 1976 and 1977
CETA rolls in 1979.
were used up. Other grants for capital
Purchases of structures increased
purposes increased about $2 billion.
CHART 11
only
6 percent in 1979, down from 21
Grants in support of current spending—
percent
in 1978. This sharp deceleraemployment and training, welfare, food
State and Local Government
tion
was
partly the result of a 13and health programs, etc.—increased
Employment: Change From
percent
weather-related
decline in the
about 4^ percent, down from 13 perPreceding Year
cent in 1978.
first quarter. Inflation raised conThousands of employees,
struction costs about 12 percent in
full-time equivalents
Expenditures
1979, so the volume of construction
200
declined
about 6 percent. The largest
Expenditures increased 8K percent in
increases were in public housing; air1979, well below the UK percent inports, port facilities, recreation areas,
crease recorded in 1978 but about the
same as in 1977 (table 2). The 1979
and similar facilities; electric utilities;
deceleration was largely in purchases
and transit facilities. Increases in highof goods and services, and affected all
ways, schools, and other types of conmajor categories of purchases except
struction probably were exceeded by
medical vendor payments. The total of
cost increases, so that the volume of
expenditures other than purchases dethese types of construction declined.
clined slightly in 1979.
Purchases of other goods and services
Purchases, by far the largest com- - 5 0 from business (including medical vendor
ponent of expenditures, increased 9K
payments) increased about 12 percent,
percent, compared with 12K percent in - 1 0 0 a
slight deceleration from 14 percent
1978. Compensation of employees, more
in 1978. Higher prices accounted for
than one-half of total purchases, in- -150
1976
1977
1978
1979
most of the 1979 increase; volume
creased only 8K percent, after increasing
increased only about 2 percent.
9}£-10 percent in each of the previous U.S. Department of Commerce, Bureau of Economic Analysis
go-i-n
26
SURVEY OF CUEEENT BUSINESS
January 1980
Transfer payments increased 9 per- "normal" fiscal position of the other- and Louisiana. For localities, increases
cent, compared with 10K percent in funds measure has been a deficit.1 The in property taxes will be slowed by the
1978. Social insurance fund transfers in- strong 1978 acceleration of capital effect of actions taken in late 1978 in
creased 14 % percent, about the average spending, and continued—if slower— Alabama, Idaho, and Texas, which
for the 3 previous years. Welfare (direct growth in 1979, thus help to explain should begin to be noticeable during
relief) transfers again increased less the move into deficit.
1980. However, growth will be in the
than 3 percent, after increases of 5 and
From another point of view, the 1979 5-7 percent range—compared with 1
8 percent, respectively, in 1977 and move into deficit can be seen as repre- percent in 1979 and 1978—because the
1976. Stricter administrative controls senting a "spending down" of surpluses effect of Proposition 13 is now fully
and, in some States, postponement of accumulated in 1976-78. Spending down incorporated in current property tax
cost-of-living increases contributed to took the form of financing tax reduc- levels.
this deceleration. Other transfers in- tions rather than financing increased
Expenditures growth will probably
creased only 10 percent. The 33-percent expenditures. For example, the Proposi- remain around 9 percent. Purchases of
increase in 1978 for this category was tion 13 property tax reduction was goods and services from business other
mainly due to State-local transfers to funded in part by spending assets than structures will continue to increase
nonprofit institutions for CETA train- accumulated over several years in the slightly faster than prices. Because boring programs and for nonprofit CETA general fund of the State of California. rowing costs will remain high, net new
employment. In the NIPA's, nonprofit Eestoration of the estimated tax re- borrowing for capital purposes should
institutions are part of the personal ductions in both 1978 and 1979, in the decline again in 1980. As a result, the
sector, and payments to these in- absence of other changes, would have increase in spending for structures is
stitutions are treated as transfer pay- raised the 1978 other-funds surplus to likely to be small. Total compensation
ments.
$7.5 billion, and the 1979 deficit to a is likely to increase in the range of 7-8
The rate of increase in interest paid $6.1 billion surplus.
percent. The increase in compensation
decelerated slightly for the third conwill be in large part a function of: (1)
secutive year. Municipal interest rates Outlook
further reduction in CETA employment
increased, although less than rates afIn 1980, total receipts will increase (2) the extent to which these lost
fecting most other borrowers, and new more rapidly than the 7 percent regis- positions will be replaced by regular
borrowing was lower. Interest received tered in 1979, but—in the absence of positions and the extent to which former
continued to increase more rapidly major new Federal initiatives involving CETA employees enter them, and (3)
than interest paid. The strong increase strong growth in grants—will not reach the average pay levels for any replacein the current surplus of enterprises 10 percent. If a recession materializes, ment positions. With respect to the first
reflected revenue increases, primarily it will limit increases in own-source point, in the absence of new Federal
for liquor stores and certain utilities, revenues—chiefly taxes. This effect initiatives, CETA government employsuch as water and electricity supply. would be largest at the State level, ment in 1980 will be about 50,000 lower
because sales and income taxes, which than in 1979. With respect to the second
Fiscal position
are the primary State revenues, are point, the extent to which States and
With social insurance funds excluded, responsive to changes in the economy. localities will absorb former CETA
State and local governments were in Income tax growth will continue to be employees into the regular work force
deficit in 1979, for the first year since curbed by tax reductions passed during is uncertain. However, preliminary data
1975. However, this move into deficit 1979 that will become fully effective indicate that total State-local employshould not, of itself, be regarded as an in 1980; preliminary indications are ment did not decline in the fourth
indicator of serious financial difficulty that these reductions will amount to quarter of 1979 despite a reduction in
for these governments. This other-funds about $1.5 billion. Additional cuts CETA employment; this suggests that
measure has typically registered a def- from new indexing proposals are also substantial numbers who left CETA
icit; prior to 1972, when general rev- likely. Accelerated growth can be ex- entered regular State-local employment.
enue sharing funds accounted for much
pected in indirect business nontaxes, as It is probable that some additional
of the surplus, the last surplus was re011 decontrol adds to royalty receipts, absorption will occur in 1980.
corded in 1947. Because capital spendexpecially in Alaska, California, Texas
Overall, the State and local governing by governments is combined with
ments
other-funds measure will probcurrent spending in the summary NIPA
ably
remain
in deficit, but that deficit
presentations, and because much of the
1. This and other characteristics of the surplus and deficit
in
the
NIPA
framework
are
discussed
more
fully
in
"State
will probably be only slightly larger
capital spending by States and localities
and Local Government Fiscal Position in 1978," in the
is funded by long-term borrowing, the December 1978 issue of the SURVEY OF CURRENT BUSINESS. than the one registered in 1979.
By ROBERT BRETZFELDER and HOWARD FRIEDENBERG
State Personal Income, Third Quarter 1970
personal income increased 2.8
percent in the third quarter of 1979.
Much of the State-to-State variation
in total personal income changes was
accounted for by private nonfarm wage
and salary disbursements (payrolls),
which increased 2.4 percent. Within
private nonf arm payrolls, a 1.1-percent
increase in manufacturing partly offset
increases of about 3 percent in construction, mining, and service-type
industries; State-to-state variation
mainly reflects relative shares of and
changes in manufacturing, on the one
hand, and the nonmanufacturing industries, on the other.
The increase in private nonf arm payrolls was small (more than 20 percent
below the national average) in 14
States. All 14 except Missouri and Oregon were in the Northeast-Great Lakes
manufacturing belt and the Southeast
(table 1). In most, manufacturing's
share of private nonfarm payrolls exceeded the national average, and manufacturing payrolls either declined or
increased more slowly than the national
average. Weakness in manufacturing
mainly reflected a decline in motor
vehicle production and little change in
iron and steel production. Partly as
a result of the weakness in manufacturing, service-type payrolls increased
slowly in most of the 14. In Michigan,
Indiana, Tennessee, Ohio, and Missouri, the small increases in private
nonfarm payrolls due to weakness in
manufacturing were continuations of
second-quarter developments.
The increase in private nonfarm payrolls was large (more than 40 percent
above the national average) in 14
States. All 14 except Delaware, Florida,
New Hampshire, and Alaska and Hawaii were in the Plains, Rocky Mountain, and Southwest regions. In most,
the share of private nonfarm payrolls
accounted for by nonmanufacturing
industries exceeded the national average, and nonmanufacturing payrolls
increased more rapidly than the national average. Manufacturing payrolls
were also strong in each of the 14 except
Hawaii. North Dakota, Arizona, Utah,
Wyoming, Texas, Florida, Oklahoma,
and Nebraska also had large increases
in private nonfarm payrolls in the
second quarter.
Table 1.—Percent Change in Private Nonfarm Wage and Salary Disbursements (Payrolls), 1979:11-1979:111
Total
Rank
Percent
change
Addenda:
Manufacturing
Index,
U.S.
percent
change =
100
Total
Durables
Nondurables
Construction
Mining
Servicetype^
Total,
percent
change,
1979:11979:11
As a percent of total,
1979:11
Manufacturing
Nonmanufacturing
United States..
2.4
100
1.1
0.9
1.3
3.1
2.9
3.1
1.9
33.8
66.2
1
2
3
4
5
6
7
8
9
10
11
12
13
14
States with small increases:
Michigan..
Mississippi
Indiana.. . .
Alabama
Maine.
Tennessee...
Kentucky
Pennsylvania
Maryland
Ohio
Missouri
New Jersey
Vermont
Oregon
-.7
.2
1.0
1.3
1.3
1.5
1.5
1.6
1.6
1.6
1.7
1.8
1.9
1.9
8
42
54
54
62
62
67
67
67
71
75
79
79
-4.1
-3.0
-.5
-.8
1.8
.8
-1.4
.8
.3
-.7
-1.2
0
2.5
1.4
-5.0
-4.6
-1.3
-2.6
2.3
.8
-.3
.8
.7
-.7
-3.0
-.4
2.9
1.9
.1
-.4
2.5
1.5
1.5
.7
-3.2
1.0
-.5
-.7
1.7
.4
1.4
-.2
2.1
0
3.2
3.6
-1.0
1.8
1.0
.1
-.2
3.5
4.7
1.7
-1.1
-1.1
2.6
4.3
-.9
5.5
0
1.4
3.7
-.6
0
-1.5
.2
.8
2.5
-3.2
2.7
2.5
2.6
2.3
1.2
2.0
3.2
2.5
2.4
3.7
3.0
3.0
1.8
2.6
-2.9
1.4
.7
1.7
1.2
.4
1.8
1.7
3.0
.6
1.3
1.7
1.3
4.2
49.5
38.8
50.5
38.8
39.8
38.9
34.4
40.9
24.7
45.3
32.5
37.6
39.4
34.7
50.5
61.2
49.5
61.2
60.2
61.1
65.6
59.1
75.3
54.7
67.5
62.4
60.6
65.3
1.3
61
-.3
-.6
.4
1.3
1.1
2.5
1.3
39.0
61.0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
States with large increases:
North Dakota
Minnesota
Arizona..
Delaware
Hawaii.
South Dakota
Utah
Wyoming
Alaska
Texas
Florida
Oklahoma . . ..
Nebraska
New Hampshire
4.0
4.0
4.0
4.0
3.7
3.7
3.6
3.6
3.6
3.5
3.5
3.5
3.5
3.4
167
167
167
167
154
154
150
150
150
146
146
146
146
142
2.5
3.1
6.7
6.3
.8
9.9
3.5
3.3
1.4
2.9
2.0
2.6
2.7
3.2
4.5
5.2
7.1
7.9
.5
8.1
3.7
8.9
28.8
3.9
1.7
4.0
2.0
3.2
-.1
-.1
5.0
5.7
.9
11.9
2.9
-.5
-9.5
1.4
2.5
-.1
3.4
3.2
5.0
7.7
1.3
2.5
4.6
4.1
1.4
1.1
13.6
5.5
6.6
4.1
5.1
6.4
6.2
9.8
9.7
0
10.9
4.5
5.3
-2.5
4.1
2.6
3.8
-2.4
8.6
3.9
3.8
3.2
1.9
3.8
1.9
4.0
3.2
2.7
3.3
3.5
3.7
3.7
3.1
3.0
1.9
3.5
-1.1
1.4
1.1
2.7
5.2
.7
3.3
3.0
4.4
3.7
1.7
10.3
32.3
22.2
46.4
8.0
16.2
23.7
6.8
9.8
25.4
18.6
24.6
25.0
41.3
89.7
67.7
77.8
53.6
92.0
83.8
76.3
93.2
90.2
74.6
81.4
75.4
75.0
58.7
3.7
154
3.6
6.4
1.9
4.9
4.7
3.3
2.5
22.2
77.8
Average
Average
1. Wholesale and retail trade, thefinance-insurance-realestate group, the transportation-communication-public utilities group, and services.
27
SUEVEY OF CUEEENT BUSINESS
28
January 1980
Table 1.—Total Personal Income, States and Regions
[Millions of dollars, seasonally adjusted at annual rates]
1978
1979
State and region
I
United States
.
1,626,104
.
New England
Connecticut
Maine
Massachusetts.
New Hampshire
Rhode Island
Vermont
II
92,839
26, 463
6,581
44,013 i
6,112
6,627 1
3,042
. __
III
IV
I
II
III
1,680,604
1,733,783
1,793,688
1,843,101
95,596
27,225
6,778
45,237
6,285
6,920
3,151
98, 195
28,063
6,931
46,405
6,493
7,082
3,221
100,650
28, 698
7,177
47, 347
6,745
7,309
3,373
103,641
29,554
7,376
48, 776
6,993
7,445
3,497
105,591
30, 113
7,496 !
49, 755
7,136
7,542
3,549
109,006
31,085
7,695
51, 373
7,402
7,814
3,638
1,883,330
1,936,946
Mideast
Delaware
District of Columbia
Maryland
New Jersey .
.
New York
Pennsylvania
333, 181
4,742
6,467
33, 404
61, 483
140, 446
86, 639
342,933
4,921
6,576
34, 138
63, 427
144, 032
89,838
351,402
5,050
6,737
34, 950
65, 066
147, 364
92, 236
362,426
5,177
6,957
36,092
67, 147
152, Oil
95,043
370,484
5,314
7,058
36, 667
68, 962
155, 377
97, 107
378,256
5,322
7,224
37, 636
70, 344
158, 574
99,156
388,396
5,498
7,478
38,573
72,232
163,105
101, 510
Great Lakes
Illinois
Indiana
IVIichigan
Ohio
Wisconsin
324,312
96, 178
39, 270
74,806
80, 178
33,880
334,623
99, 201
40, 845
76, 618
83,222
34, 736
343,809
101, 587
42, 145
78,827
85, 641
35, 608
353,732
103, 397
43, 389
81, 521
88,687
36,738
364,697
106, 920
44, 844
83, 117
91, 775
38,040
370,021
110,286
45, 445
82, 453
92,921
38,917
378,838
113, 682
46, 415
83, 322
95, 288
40, 131
123,801
22, 087
17, 343
30, 408
33,943
11,099
4,361
4,560
127,729
22, 690
18,084
31, 113
35, 054
11, 693
4,486
4,609
130,940
23, 407
18, 704
31,706
35,939
11, 942
4,578
4,664
138,303
24, 497
19, 889
33,583
37, 215
12, 737
5,283
5,099
140,924
25, 531
20, 137
34, 084
38,216
12, 774
5,038
5,144
144,501
26, 318
20,808
34,910
39,006
13, 246
5,067
5,146
147,387
26,435
21, 235
35,896
39, 792
13, 566
5,321
5,143
315,832
22,209
12, 470
61,642
32, 504
21, 474
25, 264
328,755
23, 208
12, 835
63, 524
33, 510
22, 948
26, 183
339,891
23, 957
13, 259
66, 477
34, 596
23, 562
27, 115
352, 144
24, 786
13, 625
68,692
35, 737
24, 474
27,990
362,601
25,508
14,385
70,879
36, 794
25,182
28,922
370,446
25,914
14, 422
73, 423
37, 301
25,705
29,491
380,602
26,284
14, 980
75, 914
38, 266
26, 311
30, 402
12, 751
34,785
17,529
26,928
37, 412
10,864
13, 125
35,983
18,008
28, 111
39,033
12,286
13, 439
37,092
18,566
28,991
39,921
12,916
13,847
38,825
19,280
30,080
41,604
13, 206
14, 301
39, 875
19, 878
30, 935
42,362
13,580
14, 313
41, 073
20,340
31, 305
43,509
13,650
1*,558
42,000
20,917
32,093
44,807
14,070
137,795
16, 301
7,535
19,209
94, 750
143,573
16,921
7,820
20,060
98,772
149,223
17, 670
8,126
20,968
102,459
155,322
18, 515
8,397
21,986
106, 424
159,766
19,354
8,622
22,529
109,260
164,740
19,870
8,913
23,349
112,609
170,682
20,597
9,232
24,087
116,766
42,747
20,443
5,794
5,052
8,099
3,360
44,482
21,188
6,037
5,200
8,443
3,614
45,886
22,012
6,205
5,256
8,695
3,718
48, 257
22,938
6,587
5,690
9,103
3,939
49,593
23,619
6,762
5,714
9,397
4,100
50,922
24,231
6,861
5,917
9,644
4,269
52,538
25,089
7,077
6,036
9,949
4,388
244,068
188,927
5,821
18,864
30,455
251,261
194,238
6,052
19, 479
31, 491
262,411
203, 505
6,375
19,904
32, 626
270,544
209,362
6,668
20,854
33,660
278,863
215,457
6,923
21, 521
34,962
286, 156
220, 753
7,053
22,304
36,046
296,427
229,065
7,271
22, 889
37,202
4,385
7,144
4,336
7,316
4,436
7,590
4,502
7,809
4,568
7,965
4,595
8,103
4,698
8,371
103, 641
321, 446
364,697
140,924
272, 407
95, 926
175, 096
84,492
284,473
105,591
328, 073
370, 021
144,501
279, 479
97,236
179, 870
86, 757
291,801
109,006
336,847
378,838
147, 387
287,523
99,246
186,235
89,637
302, 225
- .-
Plains
Iowa
Kansas
M^ inn esota
Missouri
Nebraska
North Dakota
South Dakota
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
-
-
---
--
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
-
Southwest
Arizona
New Mexico
O klahoma
Texas
-- . —
Rocky Mountain
Colorado
Idaho
Montana Utah
Wyoming
Far West
California
Nevada
Oregon
Washington
.
._ ~
-_ —
-
_
Alaska
Hawaii
_ __
.
B y census region
Addenda:
New England
Middle Atlantic _
East North Central
West North Central
South Atlantic
East South Central.
West South Central
Mountain _
Pacific
...
-
..
_
._..___
92,839
288,568
324, 312
123, 801
239,349
83,362
151, 694
72,405
249, 775
95,596
297,298
334,623
127, 729
247,980
87,393
157,850
75, 275
256,860
98, 195
304,666
343,809
130,940
256,305
163^801
78,058
268,061
100,650
314, 201
353, 732
138,303
265,568
93,186
170, 025
81,837
276, 187
NOTE—The quarterly estimates of State personal income were prepared by Francis G. McFaul with the aid of Thelma E.
Harding, under supervision of Robert L. Brown. The table was prepared by Eunice P. James.
By MERYL L. KRONER
in Royalties and Fees, 1967-78
i
Data coverage.—The BEA data on The exception is the petroleum indusN recent years, U.S. international
transactions in royalties and fees have royalties and fees measure payments for try, which refers to all petroleumattracted increasing attention, in part the use of rights or intangible property related activities from exploration
because they can be considered a spe- (copyrights, trademarks, patents, tech- through retailing. All other classificacific, although limited, measure of the niques, processes, formulas, designs, tions exclude petroleum-related activitransfer of technology between the franchises, manufacturing rights, etc.) ties. Affiliated data are classified by the
United States and other countries. An and management fees. Royalties refer industry of the affiliate and unaffiliated
earlier article discussed the relationship to payments for the use of copyrights data are classified by the principal prodof these transactions to the transfer of or trademarks. There are two classi- uct or service of the U.S. company.
technology, i.e., to the transfer of scien- fications of fees—licensing fees and
In this article, for receipts, the major
tific and engineering knowledge applied management fees. Licensing fees refer industry categories shown are manuto the design and manufacture of to charges for the use of patents or facturing, petroleum, mining and smeltproducts and to production processes; industrial processes. Management fees ing, and other industries. For payments,
described the coverage and limitations refer to charges, mainly by parent the major categories shown are manuof the data; and examined the geo- companies to their affiliates, for pro- facturing, petroleum, and other ingraphic composition of the transactions fessional and administrative services, dustries. For receipts, a more detailed
through 1972.1 The present article ex- consulting and technical advice, re- breakdown of manufacturing is preamines the industrial composition of search and development, and other sented, because the magnitude of transthe transactions through 1978.
expenses allocated by the home office. actions is substantial.
The data compiled by BEA on these In the regular international transOverview.—U.S. companies7 earnings
transactions consist of U.S. receipts and actions tables in the SURVEY OF CUR- of royalties and fees increased substanpayments of royalties and fees between RENT BUSINESS, the BEA data on tially from 1967 to 1978. In 1967, they
direct investors and their foreign affili- direct investment-related royalties and earned $1.5 billion from both affiliated
ates, and between U.S. companies and fees include film rentals.2 These rentals and unaffiliated foreign companies; in
unaffiliated foreign companies. The are excluded from the data presented 1978, they earned $5.4 billion (table 1).
classification, by industry, of transac- in this article because they are not During this period, manufacturing actions between affiliated parties, i.e., considered to be related to the transfer counted for nearly 70 percent of the
direct investment-related transactions, of technology. In the international total. Within manufacturing, the maby industry, has been available for transactions tables, unaffiliated royal- chinery and chemicals and allied products
several years; the classification, by ties and fees do not include film rentals. industries together accounted for 60
industry, of transactions between un- Affiliated transactions are on a net percent of receipts. U.S. companies'
affiliated parties has only recently been basis—receipts by U.S. parents from payments of royalties and fees to foreign
completed. The latter makes possible an their foreign affiliates are net of pay- companies remained rather small; they
industry analysis of total U.S. transac- ments to the affiliates; payments by were $0.2 billion in 1967 and $0.6 billion
tions in royalties and fees as well as a U.S. subsidiaries to their foreign parents in 1978. Manufacturing accounted for
comparison, by industry, of affiliated are net of receipts from the parents.
about 80 percent of total payments durtransactions and unaffiliated transIndustry classification.—With one ex- ing 1972-78, the years for which inactions.
ception, the analysis of royalties and dustry data are available.
fees by industry utilizes classifications
NOTE.—John W. Rutter and Gregory C. based on the categories, for establish- Receipts
Fouch of the International Investment DiviU.S. companies earn much more in
sion provided data and analysis concerning ments, described in the Standard Inreceipts
of royalties and fees from
dustrial
Classification
Manual
(1972).
affiliated royalties and fees.
foreign affiliates than from unaffiliated
2. In tables 1, 2, and 10 of the U.S. international transforeign companies. Receipts from affilactions articles in the March, June, September, and Decem1. Mary Frances Teplin, "U.S. International Transactions
ber issues of the SURVEY, affiliated receipts and payments
in Royalties and Fees: Their Relationship to the Transfer
iates were 74 percent of total receipts
of Technology," SURVEY OF CURRENT BUSINESS, December
are shown in lines 7 and 23, respectively. Unaffiliated receipts
in 1967 and 80 percent in 1978, and
1973.
and payments are shown in lines 8 and 24, respectively.
29
SUEVEY OF CUREENT BUSINESS
30
January 1980
CHART 12
Table 1.—U.S. International Transactions in Royalties and Fees with Affiliated and
Unaffiliated Foreign Residents
U.S. International Transactions in
[Millions of dollars]
1967
Total
Affiliated
Unaffiliated.- . .
Receipts
.
Manufacturing1
Affiliated.
Unaffiliated
Machinery *
Affiliated
Unaffiliated
Chemicals and allied products l
Affiliated
Unaffiliated
Transportation equipment 1
Affiliated
Unaffiliated
Other manufacturing *
Affiliated
Unaffiliated
_
Other industries l
Affiliated
Unaffiliated .
Payments
1975
1976
1977
1978
Royalties and Pees
P
1,516
1,123
393
4,008
3,251
757
4,084
3,262
822
4,474
3,554
920
5,429
4,364
1,065
1,042
706
336
2,776
2,098
678
2,833
2,110
723
3,138
2,346
792
3,766
2,814
952
356
219
137
232
162
70
129
99
30
324
226
98
1, 137
837
300
561
439
122
251
194
57
826
627
199
1,168
871
297
588
450
138
290
222
68
785
566
219
1,308
965
343
627
479
148
302
247
55
900
654
246
1,618
1,188
430
761
600
161
374
265
109
1,013
762
251
473
416
57
1,232
1,153
79
1,251
1,152
99
1,338
1,210
128
1,661
1,548
113
Billio n $ (Ratio scale)
EMPTS
5
4
^•f-''ff^^^^^^/:\'r
3
"*• •';•••' •' • . • ;• • --.X7':<;v\^^V/,:\/" •-"•' ;"' ": - .""• • ' •' <! ~"
, • •• • •.' '. - ','•••'•> J^'. -•'•:•••/•. :"-\ • .•• ••. -.-••..
•••' '•• ••••'•• •'." •V^-;^^/ : :V-\;v, : . .... • " •"
••:- ;. ' '::]:':^^^^^li^^..:, - ^ •
2
-.
473
287
186
482
293
189
434
243
191
610
396
214
Manufacturing *
Affiliated
Unaffiliated
n.a.
n.a.
100
389
217
172
396
219
177
- 364
188
176
456
264
192
i
'
/
0 ther industries ! .
Affiliated
Unaffiliated-
n.a.
n.a.
4
84
70
14
86
73
13
153
132
21
.8
~
.
.
.
» Preliminary. n.a. Not available.
1 . For industry definitions see footnotes to table 2.
„
71
56
15
/
S
166
62
104
Total
..
Affiliated
Unaffiliated.. -
."
,'
.
S
','.,••.
• . •.•-.... "••• ••.'•. :•.•.-.
•'•
.
•' ; ' .,'• .
•. •
• -:;-V;--^;:>:.:>-- -.-;••-•, .. .
.• •' V •.'•• ;•'•'•.;•••- : •'"•;• : '•••"•,•: / •'• ..
••• -•.:•.':,;.,••,•::•. '-. •• • / / : . • ; • " . '• ; ' "•:'
. .• •••;•;,:•>•
•' v
• • • • -.-'•••••'••.'•
;
• . • ' • • . ' '•'••
_ ,
.5
••--.'•'..•.]'.'•:
: . . ^ " . - • ^ ' • V - :- \---~
-,•
g
jt •:., '".-''"' '..'•V-'--. •'' "-."• '.• • ; ; • v
'. "
;
^ ^ • : - - r - ' / V . " ' ' '• • '••
..,-•
:
X
.-'/-..''
if? •
'. " '^
. '•'••.'./.'.• x*^X' ••'
-••.. .:'/U;»^-:t,';.x^v^;;, . •' '_
/
• '.' •--. - •-•--; :•-.•• ' .- •-.'-.
• -
grew at an average annual rate of 13.3 royalties and fees. These restrictions
• • ">* -.-• •• • :
; • -. • '
A
./ •
. . • • • :. . •-. : • :
percent from 1967 to 1978 (chart 12). range from Eastern Europe's long-/
' ••' •' : . ' '." ; "•"•
•
•• *
Faced with product competition from standing prohibition of equity investi I
other countries, U.S. companies ap- ments to the Andean Pact "fade-out" .3 ! I 1 1 1 1 1 i l l
parently prefer to exercise an equity rules introduced in 1971 (which require
interest in the use of their intangible foreign affiliates to sell shares to local
property and proprietary knowledge in investors and increase the local content
order to protect their competitive posi- of their products) and Mexico's 1973
tions. Most of the growth in receipts "Law on the Transfer of Technology"
from foreign affiliates occurred in the (which requires government approval
machinery and chemicals and allied for all technology agreements with
products industries, where there have, foreign companies). There are some
been extensive technological changes. countries, particularly the advanced
Affiliates in these industries are con- developing countries, where U.S. firms
centrated in the developed countries must provide their technology to local
and are generally provided with "front- firms in order to participate in local
end" technology—for example, the markets.
latest innovations in the use of com- Receipts of royalties and fees from
puters, semi-conductors, and integrated Unaffiliated foreigners, which grew at an
circuits and the most advanced tech- average annual rate of 9.6 percent from
niques for the production of chemicals. 1967 to 1978, also are concentrated in
Less sophisticated information also may the machinery and chemicals and allied
be shared by the U.S. company, par- products industries of the developed
ticularly if it relates to firm-specific countries. Licensing and other agreetechnology.
ments with Unaffiliated foreign comIn recent years, the increase in the panies are often used by U.S. companies .06 .05
number of restrictions on U.S. direct that prefer to utilize the experience of
1967
77
71
75
73
79
investment abroad by potential host foreign companies with regard to procountries may have hampered the duction processes and marketing net- U.S. Department of Commerce, Bureau of Economic Analysis
growth in affiliated transactions in works, and by U.S. companies that lack
•
SURVEY OF CUKKENT BUSINESS
January 1980
the resources for extensive exports or
foreign operations. Under these agreements, foreign companies agree to pay
royalties and fees, often based on a
percentage of sales, for the right to
manufacture and market products utilizing the technology of the U.S.
company. For the most part, U.S.
companies enter into agreements with
unaffiliated foreign companies where
the technology provided is highly
advanced.
Royalties and licensing fees.—Transactions in royalties and fees with unaffiliated companies consist almost
entirely of royalties and licensing fees.
Transactions with affiliated foreign companies include, as well, management
lees; these fees are discussed separately.
Receipts of royalties and licensing
fees from affiliates grew more rapidly
than receipts from unaffiliated companies—17.7 percent per year from 1967
to 1978, compared with 9.6 percent. In
31
1978, receipts of royalties and licensing
fees from affiliated companies were $2.7
billion, of which about 80 percent was
accounted for by manufacturing. Receipts from unaffiliated foreign companies were $1.1 billion, of which
manufacturing accounted for about 90
percent (table 2). Manufacturing receipts from affiliated companies grew
faster than receipts from unaffiliated
companies—17.8 percent per year compared with 10.1 percent (chart 13).
Table 2.—U.S. Receipts of Royalties and Fees, by Industry
[Millions of dollars]
Manufacturing
All
industries
Mining
and
smelting *
Petroleum2
Chemicals
and allied3
products
Total
Primary
and fabricated
metals 4
Machinery 5
Transportation
equipment6
Other
manufacturing 7
Other
industries 8
Affiliated:
Royalties and fees fl:
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978 P
1,123
1,246
1,356
1,561
1,757
1,911
2,309
2,833
3,251
3,262
3,554
4,364
37
44
54
47
45
55
78
67
80
60
69
66
137
141
162
185
229
247
251
291
343
371
420
482
706
781
840
944
1,036
1,208
1,552
1,886
2,098
2,110
2,346
2,814
162
172
192
214
238
263
326
405
439
450
479
600
45
43
44
48
45
47
60
82
90
64
67
78
219
266
300
336
388
451
608
710
837
871
965
1,188
99
100
83
90
96
126
145
204
194
222
247
265
181
200
221
257
270
322
413
485
537
502
587
684
242
279
298
382
446
401
428
588
730
721
721
1,000
Royalties and licensing fees:
1967
1968
1969
1970
1971
1972
1973
.
1974
1975
1976
1977
1978 P
- -
454
553
630
751
874
1,C65
1,376
1,649
1,886
1,956
2,212
2,692
2
3
4
2
2
2
5
14
25
29
10
7
6
5
7
9
16
15
25
24
373
450
531
609
723
888
1,168
1,381
1,573
1,621
1,809
2,218
98
118
125
147
164
193
248
293
317
327
357
439
11
13
16
16
16
19
25
38
53
25
29
35
171
217
265
310
382
478
627
728
837
898
1,012
1,253
18
17
20
21
23
22
31
31
34
37
48
52
74
87
106
115
138
176
236
292
333
333
363
439
54
71
84
131
142
170
196
245
Management fees:
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978 v
669
691
726
810
882
847
933
1,184
1,365
1,306
1,343
1,670
112
112
152
178
223
241
245
282
327
356
396
458
332
331
309
335
313
320
384
505
525
488
536
596
65
54
67
67
74
70
78
112
122
122
122
160
34
30
29
32
29
28
35
44
37
39
38
43
47
50
35
25
6
-27
-19
-18
1
-26
-47
-65
80
84
63
69
73
103
113
174
160
185
199
214
106
113
115
142
130
145
177
193
205
169
223
245
20
22
32
32
34
41
36
38
40
50
74
60
336
391
429
506
535
566
635
670
678
723
792
952
70
85
86
93
103
91
101
117
122
138
148
161
29
27
29
34
40
39
42
43
47
47
69
41
137
163
191
226
239
265
292
315
300
297
343
430
30
40
39
62
48
54
63
50
57
68
55
109
69
76
84
91
105
116
136
144
152
172
177
210
Unaffiliated ">:
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978 P
- - - , .
. .
-.
. -
. ..
--
-•
. .
.
393
437
486
573
618
655
712
751
757
822
920
1,065
(D)
(D)
(*)
(*)
5
13
2
36
41
51
45
43
53
73
53
56
55
63
1
1
1
1
1
1
2
3
2
2
v Preliminary. D Suppressed to avoid disclosure of data of individual companies.
*Less than $500,000.
1. Consists of the exploration, mining, and development of metallic and nonmetallic
minerals, anthracite, bituminous coal and lignite, and primary and secondary smelting and
refining of ferrous and nonferrous metals.
2. Consists of all petroleum-related activities: exploration, development, production,
transportation, refining and processing, storage, distribution, and wholesale and retail selling.
3. Consists of industrial and agricultural chemicals, plastics, Pharmaceuticals, soaps, paints,
and miscellaneous chemical products.
4. Consists of the rolling, drawing, and alloying of ferrous and nonferrous metals; the
manufacture of castings and miscellaneous primary metal products; and the fabricating of
ferrous and nonferrous metal products.
5. Consists of engines; office machines; farm, construction, metalworking, special industry,
general industrial, refrigeration, and service machinery; electrical industrial apparatus;
electric distributing, lighting, and wiring equipment; radio and television receiving equipment; communications equipment; electronic components; and household appliances.
(D)
(D)
315
365
448
188
208
214
251
304
231
232
343
406
356
552
36
23
24
34
48
47
39
43
39
46
52
51
6. Consists of motor vehicles, aircraft, guided missiles and space vehicles, ships, boats, railroad equipment, and miscellaneous transportation equipment.
7. Consists of foods and beverages; tobacco; apparel and textile products; wood products
and furniture; paper goods; printed materials; products made of rubber, plastic, leather, glass,
clay or cement; scientific and medical instruments; photographic supplies; watches; jewelry;
musical instruments; and toys.
8. Consists of agriculture; forestry and fishing; construction; transportation; communications and utilities; wholesale and vptail trade; finance, insurance, and real estate; lodging;
advertising; engineering; account! g; and other personal and business services.
9. Excludes film rentals, which a e included with receipts of royalties and fees from foreign
affiliates in the international transactions tables published in the SURVEY OF CURRENT
BUSINESS.
10. Consists mostly of royalties and licensing fees. Management fees are negligible.
SURVEY OF CURRENT BUSINESS
32
January 1980
Table 3.—U.S. Receipts of Royalties and Licensing Fees in Manufacturing, by Area, 1978 '
[Millions of dollars]
AH countries2
Affiliated
Unaffiliated
Canada
Affiliated
Unaffiliated
- --
United Kingdom
Affiliated
Unaffiliated
European Communities
Affiliated
Unaffiliated
3
Japan
Affiliated
Unaffiliated
.
Australia, New Zealand, and South Africa ..
Affiliated
Unaffiliated
Developing countries
Affiliated
Unaffiliated
Latin America
Affiliated
Unaffiliated
Other countries
Affiliated
Unaffiliated
. .-
-- - - .
_
Transportation
equipment l
Fees in Manufacturing
Other
manufacturing i
Billion $ (Ratio scale)
4
600
439
161
76
35
41
1 683
1 253
430
161
52
109
649
43°
21C
2 914
2 093
821
525
395
130
66
32
34
1 606
1 223
383
149
45
104
56E
39*
17(
284
239
45
55
49
6
10
g
2
117
109
g
(D)
432
350
82
99
83
16
16
g
206
173
33
(*>}
(D\
8
(D)
1$
17
D
( ;
(D\
D
7
1$
(D\
228
175
53
19
11
g
804
689
115
214
113
101
53
28
25
3
3
3
78
44
34
623
295
328
55
30
25
10
2
g
369
192
177
113
77
35
30
5
6
1
5
33
17
16
3
21
3'
2(
255
125
130
76
45
31
10
3
7
77
30
47
11
6
5
g
4
4(
159
84
75
49
29
20
9
3
6
42
18
24
9
6
3
5(
2*
2S
96
41
55
27
16
11
1
35
12
23
2
3
U
1
36
(*)
1
D<
D
11
(
>
7
1
6
(D)
(D
62
(*)
2
41
7]
3j
3«
(DD)
( )
5(
{
v Preliminary.
D
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
1. For industry definitions see footnotes to table 2.
2. Excludes management fees and film rental receipts.
3. Original six members only.
The largest source of receipts in
manufacturing in machinery. Affiliated
receipts is machinery grew at an average annual rate of 20.0 percent from
1967 to 1978 and consistently accounted
for more than one-half the receipts from
foreign affiliates in manufacturing (table
2 and chart 14). The latest developments in U.S. technology are principally
related to the computer and advanced
electronics industries, and were provided almost entirely to foreign affiliates located in the developed countries,
particularly Germany, France, the
United Kingdom, Japan, and Canada.
Receipts from Unaffiliated foreign
companies in the machinery industry
accounted for over 40 percent of unaffiliated receipts in manufacturing and
grew at an average annual rate of 11.2
percent from 1967 to 1978. Most of the
know-how supplied to Unaffiliated companies relates to the manufacture of
consumer goods, in particular electronic
components and electrical equipment
Total
D)
D)
230
1 248
1,018
Other Europe
Affiliated
Unaffiliated
Machinery i
3,170
2 218
952
Developed countries
Affiliated
Unaffiliated
U.S. Receipts of Royalties and Licensing
Chemicals Primary
and
and allied
products i fabricated
metals 1
Total
CHART 13
and appliances. Unaffiliated companies
in the European Communities (EC) and
Japan were the primary sources of these
receipts; EC companies accounted for
nearly 35 percent and Japanese companies for just over 40 percent (table 3).
Receipts from the developing countries
increased, to 11 percent of receipts in
1978 from 7 percent in 1967. The major
contributors to this increase were the
advanced developing countries of Mexico, Brazil, India, Taiwan, South
Korea, and Hong Kong. Receipts from
Latin America were primarily from
companies manufacturing heavy machinery for construction and industrial
use; receipts from Asia were primarily
from companies manufacturing electronic components for electrical appliances and equipment.
. Chemicals and allied products is the
second largest source of receipts in
manufacturing. Foreign affiliates accounted for over 70 percent of total
receipts in this industry in 1978, com-
Unaffiliated
1
1967
I I
69
I I
71
I
73
l
i
75
'Excludes management fees.
U.S. Department of Commerce, Bureau of Economic Analysis
j
i
77
i
79
SO-HS
pared with slightly less than 60 percent
in 1967, as the growth in affiliated receipts exceeded that in unaffiliated receipts—14.8 percent per year compared
with 9.1 percent. Technology in agricultural chemicals and fertilizers generally is supplied to affiliates in Canada
and France; that in industrial chemicals, plastics, and synthetics to affiliates in the United Kingdom and
Germany; and that in pharmaceuticals to affiliates in Germany and
France.
Receipts from unaffiliated foreign
companies in chemicals and allied products generally involve technology in
industrial and agricultural chemicals
and pharmaceuticals. Most receipts
come from companies in the developed
countries; approximately 40 percent
are from Germany, principally for
industrial chemicals and pharmaceuticals, and Japan, for industrial chemicals. Receipts from the advanced
developing countries, especially in in-
January 1980
SUEVEY OF CUEEENT BUSINESS
33
CHART 14
dustrial chemicals from Mexico, grew
rapidly, and accounted for 19 percent of
unaffiliated receipts in chemicals and U.S. Receipts of Royalties and Licensing Fees in Manufacturing Industries in 1978
allied products in 1978, compared with
Primary and
Transportation
By Industry
14 percent in 1967.
Fabricated Metals
Equipment
In contrast to the previously men(2%)
tioned industries, in primary and fabPrimary and
Fabricated Metals
ricated metals and in transportation
(4%)
equipment, U.S. companies earn more
in receipts of royalties and licensing
fees from unaffiliated foreign companies
than from foreign affiliates. This
difference may partly reflect U.S. trade
regulations and union contracts, which
specify that the "front-end" technology
of these industries, a key factor in U.S.
competitive advantage in world markets, cannot be transferred abroad and
that certain facets of the production
processes can neither be made available
to nor performed in another country.
Although growth in affiliated receipts
Unaffiliated ($952 million)
Affiliated 1 ($2,218 million)
was faster than in unaffiliated reAustralia,
By Country
ceipts—11.9 percent per year compared
New Zealand and
South Africa
with 9.5 percent, from 1967 to 1978—
(3%)
Australia,
receipts from unaffiliated foreign comNew Zealand and
panies were approximately 60 percent
South Africa
of total receipts in these industries
(4%)
during this period. More than 90 percent of receipts from unaffiliated foreign companies were from the developed
countries, and 50 percent of that total
was from Japan. Of the developing
countries, most of the affiliated and unaffiliated receipts were from the automotive industry of Latin America,
especially Mexico. Eeceipts from Asian
companies that manufacture automo- Other
tive and aircraft components increased Europe
(5%)
slightly.
Unaffiliated ($952 million)
Affiliated 1 ($2,218 million)
In other manufacturing, affiliated reNOTE-Percentages are based on preliminary data.
ceipts increased faster than receipts 'Excludes management fees.
from unaffiliated foreign companies— Includes original six members only.
17.9 percent per year from 1967 to 1978 U.S. Department of Commerce, Bureau of Economic Analysis
compared with 10.5 percent—and accounted for over 90 percent of total
In the other industries category, reIn the petroleum industry, the largest
receipts in this category in 1978. The source of receipts was refining and proc- ceipts from foreign affiliates were far
majority of affiliated and unaffiliated essing, accounting for more than half of larger than those from unaffiliated forreceipts were from the developed coun- total receipts in 1978. Unaffiliated for- eign companies. Developed countries actries. In the textile industry, receipts eign companies accounted for more than counted for 80 percent of total receipts.
were from a large number of developed 70 percent of total receipts during
Management jees.—Management fees
and developing countries. Since 1967, 1967-78; growth in unaffiliated receipts transactions between affiliated comthere were few technological develop- was more rapid than in affiliated re- panies grew less rapidly than royalties
ments; however, existing information ceipts—12.2 percent per year compared and licensing fees from 1967 to 1978—
and techniques, which are relatively in- with 8.4 percent. Developed countries 9.1 percent per year compared with
expensive to acquire, were widely and accounted for more than 75 percent of 17.7 percent (table 2). In 1967, management fees accounted for 60 percent
unaffiliated receipts.
extensively used.
SURVEY OF CUEEENT BUSINESS
34
Table 4.—U.S. Payments of Royalties and
Fees, by Industry
Table 5.—U.S. International Transactions in Royalties and Fees 1 with Affiliated Foreign
Residents, by Area
[Millions of dollars]
[Millions of dollars]
All
industries
Petroleum i
Manufacturing^
Other
industries^
Year
Affiliated ;>:
1967
1968 . .
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978 P
62
80
101
111
118
155
209
160
287
293
243
396
n.a.
n.a.
n.a.
n a.
n.a.
—10
5
1
-2
—4
3
6
n.a.
n.a.
n.a.
n.a.
n.a.
114
141
200
217
219
188
264
n.a.
n.a.
n.a.
n.a.
n.a.
52
62
-42
72
77
53
126
Unaffiliated:
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978 P
104
106
120
114
123
139
176
186
186
189
191
214
2
2
5
7
5
5
7
8
g
6
7
13
100
101
108
103
114
128
162
171
172
177
176
192
2
3
6
3
3
6
7
7
6
7
8
8
p Preliminary. n.a. Not available.
1. For industry definitions see footnotes to table 2.
2. Excludes film rentals, which are included with payments of royalties and fees to foreign parents in the international transactions tables published in the SURVEY.
of all affiliated royalties and fees; in
1978, they accounted for 38 percent of
that total.
In the petroleum industry, affiliates
in the Middle East and, in recent years,
the United Kingdom, were the primary
sources of management fees. U.S. parents have provided specialized consulting and engineering services, supplied
maintenance for refineries and oil fields,
and conducted seismic surveys. In other
industries, the rapid increase in management fees was primarily the result
of the demand for architectural, consulting, and engineering services in connection with widespread construction
activity in the Middle East, particularly
in Iran, Saudi Arabia, and Iraq. Substantial receipts in transportation equipment manufacturing are attributable to
extensive U.S. investments in the Canadian automotive industry. U.S. companies provide engineering and technical
services to enable their affiliates to make
changes necessary for the production of
new models.
Payments
In recent years, U.S. companies disbursed more in payments of royalties
and fees to their foreign parents than to
January 1980
Total
Receipts:
1967
1968
1969
1970
1971
1972
1973
1974
1975 .
1976
1977
1978?
. .
Payments:
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976 _
1977
1978 »
European Denmark Other 3
United
and
Kingdom CommuniEurope
ties 2
Ireland 3
1,123
1,246
1,356
1,561
1 757
1,911
2,309
2 833
3 251
3,262
3 554
4,364
153
161
183
217
240
271
302
356
444
448
476
649
62
80
101
111
118
155
209
160
287
293
243
396
11
21
26
19
11
15
20
17
27
8
19
75
237
275
297
354
424
473
625
767
892
833
961
n s.s.
n.s.s.
nss
n.s.s.
nss
nss
n s.s.
30
43
43
54
72
78
79
99
104
112
131
157
173
214
215
232
235
242
265
267
311
333
356
394
517
547
613
652
698
—3
n s s.
nss
n ss
n ss
n.s.s.
n ss
nss
2
1
1
1
4
11
9
13
21
36
72
91
149
114
131
98
121
43
47
56
62
64
60
73
46
139
137
118
127
1,205
(*)
Canada
2
2
3
6
23
5
17
25
37
111
Latin
American
Republics
and Other
Western
Hemisphere
Australia,
New
Zealand,
Republic
of South
Africa
Japan
175
213
232
241
241
232
243
307
349
269
312
323
62
68
76
90
107
115
152
167
182
179
195
206
37
45
53
66
83
102
153
190
200
239
279
401
140
139
150
177
217
232
282
325
380
424
395
573
—5
—2
—1
—2
2
(*}
^ ;3
4
4
1
1
1
•—47
—26
—34
—34
—66
1
1
1
2
3
1
1
—6
2
1
1
4
(*)
(*)
(*)
(*)
(*)
(*)
(*)
—3
14
26
3
19
(*)
r*\
(*)
(*)
(*)
(*)
(*)
Other
v Preliminary.
* Less than $500,000. n.s.s. Not shown separately.
1. Excludesfilmrentals, which are included with receipts and payments of royalties and fees in the international transactions tables in the SURVEY.
2. Original six members only.
3. When not shown separately, Denmark and Ireland are included with Other Europe.
unaffiliated foreign companies (table 1).
In 1967, payments to foreign parents
were 37 percent of total payments; in
1978, these payments accounted for 65
percent, suggesting that foreign companies prefer to exercise an equity
interest in the use of their intangible
property and proprietary knowledge
that gives them advantages in the U.S.
market. In contrast to receipts, which
typically consist of a large number of
transactions of varying size, payments
typically consist of a small number of
relatively large transactions.
U.S. companies' payments to foreign
parents grew more rapidly than payments to unaffiliated foreign companies—22.1 percent per year from 1967
to 1978, compared with 7.1 percent. In
1978, affiliated payments of royalties
and fees were $0.4 billion, of which twothirds was accounted for by manufacturing. Payments to unaffiliated
companies were $0.2 billion, of which
Table 6.—U.S. Receipts of Royalties and Licensing Fees * from Affiliated Foreign Residents,
by Area
[Millions of dollars]
Year
Total
European Denmark Other 3
United
Kingdom Communiand 3 Europe
ties 2
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978P _
454
553
630
751
874
.
1,065
1 376
1,649
1,886
1 956
2,212
2,692
81
95
113
130
138
168
198
235
273
268
289
389
155
197
218
260
318
408
562
669
788
794
904
1,141
Canada
Ireland
n.s.s.
nss
n.s.s.
n.s.s.
n ss
nss
nss
19
29
33
42
52
35
44
57
64
76
90
125
115
150
162
167
210
60
68
84
109
123
137
142
166
198
228
251
261
Australia,
Latin
New
American
Eepublics Zealand,
and Other Republic
of South
Western
Africa
Hemisphere
58
69
68
79
85
89
102
115
115
101
104
116
v Preliminary. n.s.s. Not shown separately.
1. Excludes management fees and film rental receipts.
2. Includes original six members only.
3. When not shown separately, Denmark and Ireland are included with Other Europe.
20
27
32
35
40
50
72
86
99
103
111
125
Japan
Other
27
36
45
55
75
101
139
166
171
205
258
326
1
1
1
1
1
2
3
6
6
6
8
7
January 1980
SURVEY OF CURRENT BUSINESS
35
in Royalties and Fees with Unaffiliated Foreign
manufacturing represented 90 percent Table 7.-—U.S. International Transactions
Residents, by Area
(table 4).
[Millions of dollars]
Royalties and licensing fees.—UnafLatin
Australia,
filiated transactions in royalties and
American
New
European
Denmark
Other
Total
United
Canada
Republics
Year
Zealand, Japan Other
fees consist almost entirely of royalties
Kingdom Communiand 2 Europe 2
and Other Republic
ties i
Ireland
Western
of South
and licensing fees. As in the case of
HemisAfrica
phere
receipts, transactions between affiliates
and their foreign parents include, as Receipts:
n.s.s.
55
107
29
393
33
36
24
95
14
well, management fees. In the tables of
1967
n.s.s.
437
53
113
33
31
41
1968
18
130
18
55
134
n.s.s.
36
40
486
28
21
1969
155
18
this article, royalties and licensing fee s
n.s.s.
38
56
157
45
23
1970
573
33
202
20
161
n.s.s.
51
32
44
618
66
24
1971
223
18
are not shown separately from mann.s.s.
57
47
655
158
38
27
1972
63
240
25
32
n.s.s.
74
59
712
169
48
31
1973
273
26
agement fees. Problems of disclosure
5
1974
751
187
68
71
38
63
39
249
31
757
5
75
60
79
199
38
40
1975
42
219
preclude the publication of such a
5
72
210
82
45
43
822
63
1976
57
246
5
82
226
119
42
71
41
920
275
1977
59
breakdown.
6
105
61
261
89
1,065
46
61
93
1978*
343
More than 70 percent of total affili- Payments:
4
3
3
32
n.s.s.
16
104
46
(*)
(*)
1967
ated and unaffiliated royalties and
n.s.s.
4
35
3
4
47
13
106
1988 _ .
(*)
(*)
41
52
n.s.s.
14
4
4
*
1
4
1969
120
(*)
V;
licensing fees were in manufacturing
5
2
4
1970
52
n.s.s.
4
35
13
114
(*)
5
3
4
1
123
55
n.s s.
18
1971
37
(*)
()
industries during 1972-78; nearly all
1
6
5
6
n.s.s.
21
1972
44
57
139
(*)
1
9
72
n.s.s.
23
6
176
53
13
1973
(*)
payments were to the developed coun2
20
7
7
1
1
70
12
186
67
1974
1
4
3
9
9
17
76
67
186
1975
(*)
14
6
1
tries. Within manufacturing, the largest
3
9
77
67
13
1976 _
189
(*)
k
1
72
3
18
8
11
1
63
16
191
1977
1
1
14
3
20
10
15
84
214
67
1978P
payments were in chemicals and allied
products. European parent transfers of
9 Preliminary.
* Less than $500,000.
n.s.s. Not shown separately.
1. Original six members only.
intangible property and proprietary
2. When not shown separately, Denmark and Ireland are included with Other Europe.
knowledge to their U.S. affiliates are
Fluctuations in the category of other
concentrated in pharmaceuticals, indus- majority of unaffiliated payments was
industries
were primarily due to sizeable
to
the
original
six
members
of
the
EC
trial and agricultural chemicals, and
management
fees transactions between
and
to
the
United
Kingdom.
Unaffiliplastics; transfers from unaffiliated forU.S.
affiliates
and their parents in
ated
payments
to
Japan
and
Latin
eign companies are primarily in pharJapan
and
Canada.
In the automotive
America
increased
in
recent
years.
maceuticals. Other significant transfers
industry,
transactions
between U.S.
Management
fees.—Management
fees
are in food and in primary and fabaffiliates
and
their
Japanese
parents retransactions
between
affiliated
comricated metals, for affiliates, and in
sulted in net receipts, because receipts
panies
exceeded
royalties
and
licensing
machinery and in transportation equipfees in recent years. Approximately 60 of U.S. affiliates from their parents, for
ment, for unaffiliated companies. In the
percent of management fees were in warranty work performed and for U.S.
category of other industries, there are
manufacturing industries during 1972- training provided to Japanese execusignificant affiliated transfers in retail 78. The largest payments were in chemi- tives, exceeded their payments to their
trade.
cals and allied products, mainly reflect- parents. In the insurance industry, the
The majority of affiliated payments ing the allocation of large research and Canadian practice of allocating operatwas to Switzerland, the United King- development expenses by European ing expenses to U.S. affiliates has contributed to significant fluctuations.
dom, Germany, Canada, and Japan; the companies to their U.S. affiliates.
SUEVEY OF CUEEENT BUSINESS
36
January 1980
SUMMARY NATIONAL INCOME AND PRODUCT SERIES, ANNUALLY AND QUARTERLY:
1947-79
Table A.—Gross National Product
[Billions of dollars, quarterly data are seasonally adjusted at annual rates]
Personal consumption expenditures
Year and
quarter
Gross private domestic investment
Government purchases of
goods and service
Net exports
GNP
Total
Durable
goods
Nondurable
goods
Services
Total
Nonresidential
Residential
Net
CBI
Exports
Imports
Total
£state and
Federal
local
Final
sales
13 ercent change
from preceding
period
GNP
Final
sales
1947
1948
1949
232.8
259.1
258.0
161.7
174.7
178.1
20.4
22.9
25.0
90.9
96.6
94.9
50.4
55.3
58.2
34.0 i
45.9
35.3
22.9
26.2
24.3
11.5
15.0
14.1
-0.5
4.7
-3.1
11.6
6.5
6.2
19.8
16.9
15.9
8.2
10.4
9.6
25.5
32.0
38.4
12.7
16.7
20.4
12.8
15.3
18.0
233.2
254.4
261.1
11.1
11.3
-.4
14-8
9-1
2 .6
1950
1951
1952.
1953
1954
1955
1956
1957
1958
1959
286.2
330.2
347.2
366.1
366.3
399.3
420.7
442.8
448.9
486.5
192.0
207.1
217.1
229.7
235.8
253.7
266.0
280.4
289.5
310.8
30.8
29.8
29.1
32.5
31.8
38.6
37.9
39.3
36.8
42.4
98.2
108.8
113.9
116.5
118.0
122.9
128.9
135.2
139.8
146.4
63.0
68.5
74.0
80.6
86.1
92.1
99 2
105*. 9
112.8
121.9
53.8
59.2
52.1
53.3
52.7
68.4
71.0
69.2
61.9
77.6
27.1
31.1
31.2
34.3
34.0
38.3
43.7
46.7
41.6
45.3
19.9
17.7
17.8
18.6
20.3
24.1
22.6
21.2
21.8
27.0
6.8
10.3
3.1
.4
-1.5
6.0
4.7
1.3
-1.5
5.2
1.9
3.8
2.4
.6
2.0
2.2
4.3
6.1
2.5
.6
13.9
18.9
18.2
17.1
18.0
20.0
23.9
26.7
23.3
23.7
12.0
15.1
15.8
16.6
16.0
17.8
19.6
20.7
20.8
23.2
38.5
60.1
75.6
82.5
75.8
75.0
79.4
87.1
95.0
97.6
18.7
38.3
52.4
57.5
47.9
44.5
45.9
50.0
53.9
53.9
19.8
21.8
23.2
25.0
27.8
30.6
33.5
37.1
41.1
43.7
279.4
319.9
344.0
365.7
367.8
393.3
416.0
441.4
450.4
481.2
10.9
15.4
5.1
5.5
.0
9.0
5.4
5.2
1.4
8.4
7'°
", 5 6
1960
1961
1962
1963
1964. .1965
1966.
1967
1968
1969
506.0
523.3
563.8
594.7
635.7
688.1
753.0
796.3
868.5
935.5
324.9
335.0
355.2
374.6
400.4
430.2
464.8
490.4
535.9
579.7
43.1
41.6
46.7
51.4
56.3
62.8
67.7
69.6
80.0
85.5
151.1
155.3
161.6
167.1
176.9
188.6
204.7
212.6
230.4
247.0
130.7
138.1
147.0
156.1
167.1
178.7
192.4
208.1
225.6
247.2
76.4
74.3
85.2
90.2
96.6
112.0
124.5
120.8
131.5
146.2
47.7
47.1
51.2
53.6
59.7
71.3
81.4
82.1
89.3
98.9
25.0
25.0
27.4
30.6
31.2
31.2
28.7
28.6
34.5
37.9
3.8
2.2
6.5
6.0
5.8
9.5
14.3
10.1
7.7
9.4
4.4
5.8
5.4
6.3
8.9
7.6
5.1
4.9
2.3
1.8
27.6
28.9
30.6
32.7
37.4
39.5
42.8
45.6
49.9
54.7
23.2
23.1
25.2
26.4
28.4
32.0
37.7
40.6
47.7
52.9
100.3
108.2
118.0
123.7
129.8
138.4
158.7
180.2
198.7
207.9
53.7
57.4
63.7
64.6
65.2
67.3
78.8
90.9
98.0
97.5
46.5
50.8
54.3
59.0
64.6
71.1
79.8
89.3
100.7
110.4
502.2
521.1
557.3
588.8
629.9
678.6
738.7
786.2
860.8
926.2
4.0
3.4
7.7
5.5
6.9
8.2
9.4
5.8
9.1
7.7
4.4
3-8
982.4
1, 063. 4
1, 171. 1
1, 306. 6
1,412.9
1, 528. 8
1,702.2
1, 899. 5
2, 127. 6
2,368.5
618.8
668.2
733.0
809.9
889.6
979.1
089.9
210.0
350.8
509.8
84.9
97.1
111.2
123.7
122.0
132.6
157.4
178.8
200.3
212.8
264.7
277.7
299.3
333.8
376.3
408.9
443.9
481.3
530.6
597.0
269.1
293.4
322.4
352.3
391.3
437.5
488.5
549.8
619.8
700.0
140.8
160.0
188.3
220.0
214.6
190.9
243.0
303.3
351.5
386.2
100.5
104.1
116.8
136.0
150.6
150.2
164.9
189.4
221.1
253.9
36.6
49.6
62.0
66.1
55.1
51.5
68.1
91.9
108.0
113.9
3.8
6.4
9.4
17.9
8.9
-10.7
10.0
21.9
22.3
18.4
3.9
1.6
-3.3
7.1
6.0
20.4
8.0
-9.9
-10.3
-3.5
62.5
65.6
72.7
101.6
137.9
147.3
163.3
175.9
207.2
257.4
58.5
64.0
75.9
94.4
131.9
126.9
155.4
185.8
217.5
260.9
218.9
233.7
253.1
269.5
302.7
338.4
361.3
396.2
435.6
476.1
95.6
96.2
102.1
102.2
111.1
123.1
129.7
144.4
152.6
166.3
123.2
137.5
151.0
167.3
191.5
215.4
231.6
251.8
283.0
309.8
978.6
1, 057. 1
1,161.7
1, 288. 6
1, 404. 0
1, 589. 6
1, 692. 1
1, 877. 6
2, 105. 2
2, 350. 2
5.0
8.2
10.1
11.6
8.1
8.2
11.3
11.6
12.0
11.3
5-7
8-0
9-9
10-9
1947: I
II
Ill
IV
224.9
229.1
233.3
243.6
156.0
159.9
163.5
167.6
19.4
20.0
20.3
22.0
87.7
90.1
92.1
93.6
48.8
49.9
51.1
52.0
32.7
31.6
31.8
39.7
22.3
22.6
22.7
23.9
10.0
10.0
11.8
14.4
.4
-1.0
-2.7
1.4
11.6
12.1
12.6
10.2
19.4
20.6
20.5
18.8
7.8
8.5
7.9
8.7
24.6
25.4
25.5
26.1
12.6
13.1
12.6
12.6
12.0
12.4
12.9
13.6
8.4
7.6
7.7
18.8
11.6
17.2
10-4
10-8
10.8
1948 I
II
Ill
249.6
257.1
264.0
265.5
170.3
174.0
176.9
177.8
22.0
22.4
23.7
23.3
95.1
97.0
97.0
97.3
53.2
54.6
56.2
57.2
43.3
46.1
47.9
46.1
25.5
25.4
26.4
27.4
14.5
15.6
15.4
14.4
3.3
5.1
6.1
4.3
8.3
6.2
6.0
5.6
18.2
16.6
16.8
16.0
9.9
10.3
10.8
10.4
27.7
30.7
33.2
36.0
13.7
15.9
17.6
19.7
14.0
14.8
15.7
16.3
224.5
230.1
236.0
242.2
246.3
251.9
257.9
261.1
10.2
12.5
11.3
2.2
7.0
9.5
9.9
5.1
1949: I
II
III
IV
1950: I.
II
260.1
256.6
258.6
256.5
176.6
178.2
177.6
180.1
22.8
24.8
25.8
26.8
96.3
95.3
93.5
94.3
57.5
58.1
58.3
59.0
39.3
32.7
35.7
33.4
25.9
24.8
23.5
23.0
13.4
13.2
14.0
15.7
0
-5.3
-1.7
-5.3
7.5
7.3
6.2
3.9
17.5
17.1
15.5
13.3
10.0
9.8
9.3
9.5
36.7
38.4
39.1
39.2
19.8
20.7
20.7
20.5
16.9
17.7
18.5
18.7
260.1
262.0
260.4
261.8
-7.8
-5.2
3.2
-3.2
-1.5
2.8
-2.4
2.2
267.4
276.9
294.5
305.9
182.9
186.8
200.4
197.8
27.7
28.1
35.6
31.5
94.8
96.3
100.9
100.9
60.3
62.3
63.9
65.4
43.6
50.5
55.4
65.6
23.6
26.0
28.9
30.0
17.6
19.8
21.6
20.6
2.4
4.8
4.9
15.1
3.2
2.7
.6
1.1
13.1
13.3
14.0
15.2
9.9
10.6
13.4
14.1
37.7
36.9
38.0
41.4
18.6
17.4
18.0
20.9
19.1
19.4
20.0
20.5
265.0
272.1
289.6
290.9
18.0
15.0
28.0
16.5
4.9
11.1
28.4
1.7
1951: I
II
319.9
327.7
334.4
338.5
208.3
203.8
206.2
209.9
33.8
28.9
28.3
28.3
107.6
107.1
109.0
111.4
66.9
67.9
69.0
70.1
60.7
63.9
58.7
53.4
30.2
31.1
31.8
31.4
20.0
17.6
16.5
16.8
10.5
15.2
10.4
5.1
16.6
19.0
19.9
20.2
15.4
15.7
14.8
14.5
49.6
56.7
65.4
69.6
28.7
35.1
42.3
47.2
20.9
21.6
22.1
22.4
309.4
312.5
324.1
333.4
19.6
10.1
8.4
5.0
28.1
4.0
15.6
12.1
II
341.1
341.3
347.0
359.2
211.1
215.1
217.2
225.0
28.9
29.0
27.3
31.4
110.8
113.0
115.0
116.9
71.5
73.1
74.9
76.7
31.7
32.2
29.1
31.8
17.2
17.7
17.7
18.5
5.2
-2.3
4.3
5.4
20.4
18.4
17.0
17.1
15.4
15.2
15.8
16.9
70.9
75.5
77.5
78.3
48.3
52.2
54.3
54.6
22.6
23.3
23.1
23.8
336.0
343.6
342.7
353.8
3.1
3.1
9.5
-1.1
13.6
1953: I
II. .
Ill
365.4
368.8
267.8
362.6
228.3
229.9
230.5
230.0
32.9
32.8
32.5
31.9
117.0
116.9
116.2
116.0
78.4
80.2
81.8
82.1
54.1
47.5
51.1
55.7
54.8
56.1
54.2
48.2
1.3
3.3
5.1
5.7
5.0
3.2
1.2
.2
33.5
34.0
35.1
34.6
18.9
19.0
18.4
18.2
2.4
3.2
.7
-4.5
I'.O
16.9
17.1
17.5
17.1
16.3
17.0
16.8
16.1
81.7
82.6
82.4
83.4
57.2
58.1
57.2
57.6
24.5
24.4
25.1
25.8
363.0
365.6
367.1
367.1
1954: I
362.0
361.8
366.2
375.0
231.9
234.3
236.4
240.8
31.2
31.8
31.3
33.0
117.1
117.1
118.1
119.5
83.6
85.3
87.0
88.3
49.5
50.4
53.1
57.8
33.7
33.6
34.3
34.3
18.3
19.5
21.0
22.3
-2.5
-2.7
-2.2
1.3
1.2
1.8
2.1
2.9
16.5
18.5
18.0
19.0
15.4
16.8
15.9
16.0
79.5
75.4
74.6
73.4
52.8
48.0
46.2
44.8
26.7
27.4
28.4
28.7
364.6
364.5
368.4
373.8
1955: I . .
III
IV
387.5
395.4
404.0
410.2
246.8
251.9
256.0
260.0
36. S
38.6
40.3
39 4
120.5
122.2
123.3
125.7
90.1
91.1
92.4
94.9
63.5
67.9
70.1
72.0
34.8
37.2
39.7
41.6
24.1
24.7
24.3
23.3
4.6
6.1
6.0
7.1
2.9
1.5
2.4
2.0
19.6
19.3
20.5
20.8
74.3
74.1
75 4
76.2
44.5
43.7
44.7
44.9
29.8
30.3
30.7
31.3
382.9
389.3
397.9
403.1
1956: I
II
III
IV
411.9
417 4
422.4
430.9
261.4
263.9
266.8
271.9
37.6
37.6
37.3
38.9
127.2
128.1
129.4
130.8
96.5
98.1
100.1
102.1
70.8
70 4
71.3
71.6
42.0
43 1
44.6
45.2
22.7
23.0
22.6
22.1
6.0
4.3
4.1
4.3
2.5
3.9
4.6
6.1
22.1
23.5
24.5
25.3
16.7
17.8
18.1
18.7
19.6
19.6
19.9
19.2
77.2
79.3
79.7
81.3
44.9
46.2
45.8
46.7
32.3
33.1
33.9
34.6
1957: I
II
Ill
IV
438.9
441.0
448.2
442.8
276.1
278.3
282.8
284.4
40.0
39.5
39.1
38.8
132.5
133.9
137.2
136.9
103.6
104.9
106.5
108.7
69.8
69.8
71.8
65.4
46.1
46.3
47.6
46.7
21.6
21.2
21.0
20.9
2.1
2.3
3.2
-2.2
6.8
6.4
6.2
5.0
27.6
27.3
26.7
25.3
20.8
20.9
20.5
20.4
86.2
86.6
87.5
88.1
50.3
49.9
50.1
49.6
1958: I .
II
435.8
439.9
453.
466.3
284.0
286.8
291.7
295.4
36.8
36.0
36.
38.
137.6
138.9
140.8
141.9
109.6
111.
114.
115.
57.8
56.5
62.5
70.4
42.9
41.2
40.5
42.0
20.4
20.5
22.0
24.4
-5.4
-5.
2.9
2.4
2.8
1.8
23.1
23.3
23.4
23.4
20.3
20.9
20.5
21.6
91.2
94.2
96.1
98.7
476.
489.
486.
493.
303.5
309.
314.2
316.
41.
43.
43.
41.
144.3
145.
147.
148.
118.
120.
123.
125.
74 2
83.2
73.6
79.2
43.4
45.0
46.4
46.4
26.9
27.8
27.2
26.3
4.0
10.4
0
6.
i!i
22.
22.
24.9
24.
22 2
23.4
23.7
23.4
97.8
98.0
97.5
97.0
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979 »
IV
Ill
IV
III
IV
1952: I
III
IV
IV
II
III
IV
II
III....
IV
1959: I
II
III....
IV
» PreliminaiTNOTE.— G>TP = Gross national product; C)BI=Char ige in business in ventories.
4!
£
1.
e!s
14.9
7.0
3.7
-1.1
-5.5
-.6
t
s'.o
6
:i
6-9
5.81
62-0
6-9
"
?:?
8-9
6-4
9-5
7.6
t?
£8
12-1
10.7
2.9
1.6
0
-2.7
0
4.3
6.0
10.1
6.9
9.1
5.3
405.9
413.1
418.3
426.6
10.0
14.0
8.4
8.9
6.3
1.7
5.4
4.9
8.3
35.9
36.7
37.5
38.5
436.8
438.7
445.1
445.1
7.7
1.9
6.7
-4.7
10.0
1.7
5.9
0
51.6
53.6
54.4
55.9
39.5
40.6
41.7
42.7
441.2
445.0
453.1
462.2
-6.2
3.8
12.6
12.1
-3.4
3.5
7.4
8.3
54.3
54.3
53.7
53.3
43.6
43.7
43.8
43.7
472.0
479.5
486.5
486.9
18.6
12.2
-2.7
5.8
8.8
6.5
5.9
.4
2.8
7.3
5.1
8.1
SUKVEY OF CURKENT BUSINESS
January 1980
37
Table A.—Gross National Product—Continued
[Billions of dollars, quarterly data are seasonally adjusted at annual rates]
Personal consumption expenditures
Year and
quarter
Gross private domestic investment
Government purchases of
goods and service
Net exports
GNP
Total
Durable
goods
Nondurable
goods
Services
Total
NonResiresiden- dential
tial
CBI
Net
Exports
Imports
Total
»State and
Federal
local
Final
sales
33 ercent change
from preceding
period
GNP
Final
sales
1960:1
II .
Ill
IV
506.6
506.5
506.2
504.6
319.8
325.9
326.0
328.0
43.0
43.9
43.4
42.2
148.8
151.8
151.4
152.5
128.0
130.2
131.2
133.3
86.8
77.7
73.5
67.7
48.3
48.6
47.2
46.8
27.2
24.8
24.0
23.9
11.3
4.3
2.4
-2.9
2.8
3.6
5.0
6.2
26.4
27.4 ;
28.2
28.3 ;
23.7
23.9
23.3
22.1
97.3
99.3
101.8
102.7
52.3
53.1
54.6
54.8
44.9
46.2
47.2
47.9
495.5
502.2
503.9
507.5
11.1 !
-.1
-.2
-1.3
7.2
5.5
1.4
2.9
1961: I
II
Ill
IV..
507.1
518.2
527.2
540.7
328.5
333.1
335.7
342.7
39.7
40.7
41.9
44.0
153.9
154.7
155.2
157.4
135.0
137.6
138.6
141.4
66.8
72.7
77.7
80.1
45.7
46.8
47.1
48.7
24.1
24.3
25.5
26.4
-3.0
1.6
5.1
5.0
6.8
5.6
5.3
5.5
28.9 ''•
27.9
29.0
29.8
105.0
106.8
108. 4
112.3
55.3
56.9
57.7
59.6
49.7
49.9
50.8
52.7
510.1
516.6
522.0
535.7
2.0
9.0
7.1
10.7
2.1
5.2
4.3
10.9
553.0
562.1
567.8
572.3
347.5
353.0
357.0
363.4
45.0
46.3
46.8
48.8
159.3
160.6
162.2
164.1
143.2
146.1
148.0
150.5
84.6
86.2
86.4
83.6
49.8
51.4
52.1
51.7
26.5
27.6
27.8
27.7
8.3
7.1
6.4
4.1
4.8
6.1
5.7
5.0
29.4
31.2
31.1
30.7
22.1
22.3
23.7
24.2
24.6
25.2
25.4
25.8
116.1
116.8
118.8
120.4
63.0
63.0
64.1
64.8
53.1
53.8
54.7
55.6
544.7
555.0
561.4
568.2
9.4
6.7
4.1
3.2
6.9
7.8
4.7
4.9
1963:1
II .
III
IV
580.2
587.9
600.5
610.4
367.2
371.2
377.8
382.1
49.8
51.1
51.9
52.9
165.2
165.9
168.3
168.8
152.1
154.1
157.7
160.4
86.0
88.9
92.3
93.6
51.4
52.9
54.3
55.9
28.8
30.8
30.8
32.2
5.8
5.3
7.2
5.6
5.0
6.6
6.0
7.5
30.5
32.7
33.0
34.6
25.4
26.2
27.0
27.1
122.0
121.3
124.3
127.1
64.9
63.3
64.5
65.9
57.1
58.0
59.8
61.2
574.3
582.7
593.3
604.8
5.6
5.5
8.8
6.8
4.4
5.9
7.5
8.0
1964:1
II
Ill
IV..
622.4
632.4
642.1
646.0
390.5
397.8
405.7
407.5
55.0
56.3
58.1
56.0
172.7
175.7
179.1
180.1
162.9
165.7
168.5
171.4
94.0
96.4
97.4
98.6
56.9
58.7
60.6
62.3
32.4
31.2
30.7
30.2
4.7
6.4
6.0
6.1
9.5
8.3
9.0
8.9
36.9
36.4
37.8
38.6
27.3
28.1
28.8
29.6
128.3
130.0
130.0
130.9
65.9
65.8
64.7
64.5
62.4
64.2
65.3
66.4
617.8
626.0
636.1
639.9
8.1
6.6
6.3
2.4
8.8
5.4
6.6
2.4
1965:1
II
III
IV
665.4
678.7
695.1
713.3
417.7
424.1
432.7
446.1
61.4
61.3
63.1
65.3
182.6
186.0
189.5
196.5
173.7
176.9
180.1
184.3
109.2
11C.1
114.3
114.5
66.8
69.6
72,5
76.1
31.3
31.5
31.3
30.8
11.1
9.0
10.4
7.6
6.8
8.8
8.1
6.7
35.5
41.1
40.7
40.8
28.7
32.4
32.6
34.1
131.7
135.7
140.1
146.0
63,9
65.8
67.6
71.8
67.8
69.9
72.5
74.1
654.3
669.7
684.7
705.6
12.6
8.2
10.0
10.9
9.3
9.8
9.2
12.8
1966:1
II
Ill
IV
733.7
747.6
759.0
771.7
455.9
460.3
469.1
473.9
68.4
65.7
68.2
68.4
200.5
203.9
206.8
207.4
187.0
190.6
194.1
198.0
121.8
126.7
123.7
125.7
79.2
81.2
82.4
82.9
31.2
30.2
28.4
25.3
11.5
15.3
13.0
17.5
6.1
5.3
4.2
4.6
41.7
42.0
43.2
44.2
35.6
36.7
39.1
39.5
149.9
155.2
162.1
167.5
73.6
76.8
81.5
83.5
76.2
78.5
80.6
84.0
722.2
732.2
746.0
754.2
12.0
7.8
6.3
6.8
9.7
5.7
7.8
4.4
777.5
785.8
803.1
818.7
478.6
487.6
494.2
501.1
66.9
70.2
70.3
71.2
209.6
211.2
213.4
216.2
202.2
206.2
210.5
213.7
81.2
81.6
81.8
83.7
25.0
27.8
29.7
32.1
12.3
6.1
10.3
11.7
5.2
5.2
5.3
4.0
45.3
44.9
45.7
46.4
40.1
39.7
40.4
42.4
175.2
177.5
181.9
186.2
88.6
89.4
92.1
93.7
86.6
88.2
89.8
92.5
765.2
779.7
792.9
807.0
3.1
4.3
9.1
8.0
6.0
7.8
6.9
-7.3
1968:1
II
III
IV
837.3
861.8
880.0
894.7
517.6
528.5
544.5
553.1
76.5
78.1
82.3
83.1
223.0
227.6
233.9
237.0
218.2
222.8
228.3
233.0
118.6
115.5
121.7
127.5
125.1
131.9
132.3
136.8
86.8
87.1
89.7
93.5
33.0
34.3
34.6
36.2
5.3
10.5
8.0
7.1
1.7
3.3
3.1
1.0
47.1
50.1
52.4
50.1
45.4
46.8
49.3
49.1
192.9
198.1
200.2
203.7
96.2
98.5
98.6
98.7
96.7
99.6
101.6
104.9
832.0
851.4
872.1
887.6
9.4
12.2
8.7
6.8
13.0
9.6
10.1
7.3
1969: I
II
III
IV
913.0
929.0
946.9
953.3
563.8
574.1
584.5
596.4
84.8
85.3
85.5
86.2
240.8
244.9
249.0
253.4
238.2
243.9
249.9
256.8
144.0
147.2
150.5
143.2
96.7
97.7
100.4
100.9
38.5
38.8
38.2
36.1
8.7
10.7
11.9
6.2
1.1
.9
2.7
2.3
47.2
56.0
57.4
58.2
46.0
55.1
54.8
55.9
204.1
206.7
209.2
211.4
97.2
97.1
97.9
97.8
107.0
109.7
111.4
113.6
904.3
918.3
935.0
947.1
8.5
7.2
7.9
2.7
7.8
6.3
7.4
5.3
1970: I
II
Ill
IV
964.2
976.5
992.6
996.3
606.4
615.2
625.1
628.4
84.8
86.2
86.7
82.1
262.6
266.6
272.1
275.1
138.6
140.3
143.3
141.0
99.9
101.3
101.7
98.9
36.1
34.9
35.8
39.5
2.5
4.2
5.8
2.6
3.9
4.4
4.7
2.7
61.3
62.9
63.4
62.3
57.3
58.5
58.7
59.6
215.3
216.5
219.4
224.2
97.9
95.6
94.0
95.1
117.4
121.0
125.4
129.1
961.7
972.3
986.8
993.7
4.7
5.2
6.8
1.5
6.3
4.5
6.1
2.8
1971: I
II
Ill
IV
1,034.0
1,056.2
1,072.4
1,091.2
648.6
662.9
674.1
687.1
92.8
95.9
97.7
102.0
259.0
262.4
266.4
271.2
272.4
276.7
278.9
282.7
283.4
290.3
297.5
302.4
152.7
160.8
161.0
165.4
102.3
102.7
104.1
107.1
42.9
48.5
52.1
54.8
7.5
9.6
4.8
3.5
3.9
1.4
1.9
-.9
65.1
66.6
68.2
62.4
61.2
65.3
66.3
63.3
228.8
231.1
235.5
239.6
95.9
94.9
96.4
97.6
132. 9
136.2
139.0
142.0
1,026.5
1,046.5
1, 067. 6
1,087.7
16.0
8.8
6.3
7.2
13.9
8.0
8.3
7.7
1972: I
II
Ill
IV
1,127.0
1, 156. 7
1,181.4
1,219.4
705.9
724.7
739.7
761.8
106.0
109.2
112.2
117.6
287.6
296.4
302.2
311.2
312.3
319.1
325.3
333.0
176.7
184.9
191.0
200.5
112.2
114.2
117.0
123.8
59.7
60.6
61.8
65.9
4.7
10.1
12.1
10.8
-4.6
-4.1
-2.3
-2.1
69.1
69.2
73.4
79.0
73.7
73.3
75.7
81.1
249.0
251.1
253.0
259.2
103.1
102.8
100.3
102.3
145.9
148.4
152.7
157.0
1, 122. 3
1, 146. 6
1,169.3
1,208.6
13.8
10.9
8.8
13.5
13.3
9.0
8.1
14.2
1973: I
II
Ill
IV
1, 265. 3
1,288.4
1,317.5
1, 355. 1
787.2
801.0
818.2
833.1
125.7
124.6
123.5
121.1
321.4
327.6
338.1
348.1
340.1
348.8
356.6
363.8
210.6
218.0
220.0
231.5
130.4
134.5
138.6
140.3
68.3
68.0
66.0
62.1
11.8
15.4
15.4
29.0
1.7
4.3
10.0
12.7
89.4
96.7
105.2
115.0
87.7
92.4
95.3
102.3
265.8
265.1
269.3
277.8
104.2
100.1
100.1
104.4
161.6
165.0
169.3
173.5
1, 253. 5
1, 273. 0
1,302.1
1, 326. 1
15.9
7.5
9.4
11.9
15.7
6.3
9.5
7.6
1974- I
II..
Ill
IV
1, 369. 0
1, 400. 1
1,430.1
1, 452. 4
854.0
879.2
909.0
916.2
119.5
122.1
127.7
118.7
360.6
372.1
383.9
388.5
374.0
385.0
397.4
408.9
217.3
219.9
210.7
210.4
145.3
150.5
153.5
153.2
58.3
56.6
54.9
50.5
13.7
12.9
2.3
6.8
10.4
3.2
2.4
8.2
126.4
134.2
140.6
150.5
116.0
131.0
138.2
142.3
287.3
297.8
308.0
317.6
105.7
108.9
113.0
116.9
181.6
188.9
195.0
200.7
1, 355. 3
1,387.2
1,427.8
1, 445. 5
4.2
9.4
8.9
6.4
9.1
9.8
12.2
5.1
,1975: I .
II
Ill
IV
1, 454. 7 935.7
1, 498. 6 964.9
1, 564. 0 994.0
1,598.0 1, 021. 6
122.7
128.1
136.3
143.5
393.7
405.5
415.0
421.4
419.3
431.3
442.7
456.7
177.7
175.2
206.8
203.9
150.8
148.8
149.7
151.5
47.2
48.7
52.6
57.3
-20.2
-22.3
4.6
-4.9
15.5
24.3
20.9
20.9
147.4
142.6
147.0
152.2
131.9
118.3
126.1
131.2
325.8
334.2
342.2
351.5
119.4
121.4
123.6
127.9
206.4
212.8
218.7
223.6
1,475.0
1,520.9
1, 559. 4
1, 602. 9
.6
12.6
18.6
9.0
8.4
13.1
10.5
11.6
1976: I
II
Ill
IV
1, 653. 7
1, 683. 1
1, 715. 8
1, 756. 1
1, 053. 3
1,073.7
1, 100. 5
1, 132. 0
152.9
155.6
158.3
162.9
431.2
438.2
448.2
458.1
469.2
479.9
494.0
511.0
233.5
241.9
246.0
250.7
157.5
161.8
168.0
172.2
62.8
65.6
67.1
76.8
13.2
14.5
10.8
1.7
11.8
10.0
7
3.'£2
155.9
160.9
166.9
169.6
144.2
150.9
159.9
166.4
355.1
357.5
362.4
370.3
126.9
127.5
129.8
134.6
228.2
230.0
232.6
235.7
1, 640. 5
1,668.6
1,704.9
1,754.5
14.7
7.3
8.0
9.8
9.7
7.0
9.0
12.1
1977: I
II
Ill
IV
1,820.2
1,876.0
1,930.5
1,971.3
1, 169. 1
1, 190. 5
1, 220. 6
1,259.7
174.3
175.7
178.9
186.4
467.7
475.5
483.0
499.2
527.1
539.3
558.7
574.1
280.4
300.0
315.7
316.9
179.8
186.1
193.2
198.6
81.3
91.4
95.0
99.9
19.3
22.5
27.5
18.5
-9.1
-5.9
—6.2
-18.0
170.5
178.6
180.1
174.2
179.8
184.7
186.4
192.3
380.0
391.6
400.5
412.8
138.2
142.6
145.6
151.2
241.8
249.0
254.9
261.6
1,800.9
1, 853. 6
1,902.9
1,952.9
15.4
12.8
12.1
8.7
11.0
12.2
11.1
10.9
1978: I
II
Ill
IV
2,011.3
2, 104. 2
2, 159. 6
2, 235. 2
1,287.2
1, 331. 2
1 369 3
l) 415. 4
185.3
200.3
203.5
212.1
505.9
521.8
536.7
558.1
596.0
609.1
629.1
645.1
327.0
352.3
356.2
370.5
203.7
218.8
225.9
236.1
100.5
107.7
110.2
113.7
22.8
25.8
20.0
20.6
-22.1
-7.5
-6.7
-4.4
184.4
205.7
213.8
224.9
206.6
213.3
220.6
229.4
419.4
428.3
440.9
453.8
150.9
148.2
152.3
159.0
268.5
280.1
288.6
294.8
1,988.5
2,078.4
2, 139. 5
2,214.5
8.4
19.8
10.9
14.8
7.5
19.3
12.3
14.8
1979: I_.
II
III
IV P.
2, 292. 1
2, 329. 8
2, 396. 5
2,455.8
1,454.2
1, 475. 9
1,528.6
1,580.4
213.8
208.7
213.4
215.5
571.1
581.2
604.7
631.0
669.3
686.0
710.6
733.9
373.8
395.4
392.3
383.3
243.4
249.1
261.8
261.3
111.2
112.9
116.0
115.6
19.1
33.4
14.5
6.4
4.0
-8.1
-2.3
-7.7
238.5
243.7
267.3
280.0
234.4
251.9
269.5
287.7
460.1
466.6
477.8
499.8
163.6
161.7
162.9
177.0
296.5
304.9
314.9
322.8
2,272.9
2,296.4
2,381.9
2,449.5
10.6
6.7
11.9
10.3
11.0
4.2
15.8
11.8
1962: 1
II .
Ill
IV
1967:1
II
Ill ..
IV
..
...
.
Preliminary.
i
SURVEY OF CURRENT BUSINESS
38
January 1980
Table B.—Gross National Product in Constant Dollars
[Billions of 1972 dollars; quarterly data are seasonally adjusted at annual rates]
Personal consumption expenditures
(3ross private domestic investment
Government purchases of
goods and services
Net exports
GNP
Year and
quarter
Total
Durable
goods
Noniurable
goods
Services
Total
NonResiresiden- d ential
tial
CBI
Net
Exports
1[mports
Total
30.2
24.2
24.2
13.6
15.7
15.4
75.4
84.1
96.2
21.7
25.9
24.9
23.8
25.3
27.9
32.3
34.8
30.7
31.5
17.7
18.5
20.0
21.8
20.8
23.2
25.0
26.0
27.2
30.6
.
468.3
487.7
490.7
306.2
312.8
320.0
30.6
33.1
36.3
154.8
155.0
157.4
120.8
124.6
126.4
70.1
82.3
65.6
48.9
51.0
46.0
21.5
25.8
24.0
-0.2
5.5
-4.4
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959 .
533.5
576.5
598.5
621.8
613.7
654.8
668.8
680.9
679.5
720.4
338.1
342.3
350.9
364.2
370.9
395.1
406.3
414.7
419.0
441.5
43.4
39.9
38.9
43.1
43.5
52.2
49.8
49.7
46.4
51.8
161.8
165.3
171.2
175.7
177.0
185.4
191.6
194.9
196.8
205.0
132.8
137.1
140.8
145.5
150.4
157.5
164.9
170.2
175.8
184.7
93.7
94.1
83.2
85.6
83.4
104.1
102.9
97.2
87.7
107.4
50.0
52.9
52.1
56.3
55.4
61.2 i
65.2
66.0
58.9
62.9
33.2
27.5
26.8
27.8
30.2
35.1
31.9
29.7
30.6
38.1
10.6
13.7
4.3
1.5
-2.2
7.7
5.8
1.5
-1.8
6.5
1960
1961
1962
1963 .
1964
1965
1966 . .
1967
1968
1969
736.8
755.3
799.1
830.7
874.4
925.9
981.0
1, 007. 7
1,051.8
1,078.8
453.0
462.2
482.9
501.4
528.7
558.1
586.1
603.2
633.4
655.4
52.5
50.3
55.7
60.7
65.7
73.4
79.0
79.7
88.2
91.9
208.2
211.9
218.5
223.0
233.3
244.0
255.5
259.5
270.2
276.4
192.3
200.0
208.7
217.6
229.7
240.7
251.6
264.0
275.0
287.2
105.4
103.6
117.4
124.5
132.1
150.1
161.3
152.7
159.5
168.0
66.0
65.6
70.9
73.5
81.0
95.6
106.1
103.5
108.0
114.3
35.0
35.1
38.4
43.2
43.8
43.2
38.5
37.2
42.8
43.2
4.4
2.9
8.1
7.8
7.3
11.3
16.7
12.0
8.7
10.6
5.5
6.7
5.8
7.3
10.9
8.2
4.3
3.5
-.4
-1.3
35.8
37.0
39.6
42.2
47.8
49.1
51.6
54.2
58.5
62.2
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979 P
1,075.3
1, 107. 5
1, 171. 1
1, 235. 0
1, 217. 8
1, 202. 3
1,273.0
1, 340. 5
1,399.2
1, 431. 1
668.9
691.9
733.0
767.7
760.7
774.6
820.6
861.7
900.8
924.5
88.9
98.1
111.2
121.8
112.5
112.7
126.6
138.2
146.7
147.0
282.7
287.5
299.3
309.3
303.9
306.6
321.5
332.7
343.3
349.3
297.3
306.3
322.4
336.5
344.3
355.3
372.5
390.8
410.8
428.2
154.7
166.8
188.3
207.2
183.6
142.6
173.4
200.1
214.3
214.8
110.0
108.0
116.8
131.0
130.6
113.6
119.0
129.3
140.1
148.2
40.4
52.2
62.0
59.7
45.0
38.8
47.8
57.7
60.1
56.5
4.3
6.6
9.4
16.5
8.0
-9.8
6.6
13.1
14.1
10.2
1.4
-.6
-3.3
7.6
15.9
22.6
15.8
10.3
11.0
17.7
464.0
467.5
468.0
473.7
302.7
307.3
307.6
307.2
29.4
29.9
30.3
32.7
153.0
155.8
156.3
154.1
120.3
121.6
121.0
120.4
69.7
66.6
66.7
77.5
49.8
48.8
48.0
49.0
19.8
18.7
21.5
25.7
.1
-.9
-2.9
2.7
- -
477.3
486.0
490.8
495.9
309.3
312.5
313.1
316.1
32.7
32.7
33.5
33.5
154.0
155.6
154.1
156.4
122.6
124.2
125.5
126.2
81.2
83.0
83.5
81.4
51.6
50.4
50.4
51.8
25.5
27.0
26.2
24.2
....
490.9
488.9
493.4
489.2
316.5
320.5
320.0
323.1
33.0
36.3
37.5
38.3
157.2
157.5
156.3
158.4
126.3
126.8
126.1
126.3
71.5
61.8
66.0
63.0
49.3
46.8
44.4
43.5
1950:1
II
III
IV
511.5
525.1
542.4
554.6
328.3
334.3
348.9
340.8
39.6
40.0
49.9
44.2
160.1
161.7
164.4
161.0
128.6
132.6
134.5
135.6
79.8
90.0
96.2
109.0
1951:1
II
Ill
IV
562.4
573.2
584.7
585.7
346.5
338.5
341.4
342.8
45.2
38.9
37.9
37.8
164.7
162.7
166.0
167.7
136.6
137.0
137.5
137.4
1952:1
II
III
IV
591.3
592.1
598.3
612.5
343.5
349.5
351.0
359.6
38.4
39.3
36.8
41.4
166.5
170.3
172.8
174.9
1953- 1
II
Ill
IV
622.2
626.2
622.4
616.4
363.7
365.3
364 4
363.5
43.2
42.7
42.7
43.5
1954:1
II
III
IV
608.1
605.6
614 4
626.1
364.4
367.1
372.7
379.
1955:1
II
III
IV
641.1
650 8
660. 3
667 0
1956:1
II
Ill
IV
State and
local
Federal
Final
sales
I 'ercent change
from preceding
period
Final
sales
GNP
36.1
42.4
48.9
39.3
41.8
47.4
468.5
482.2
495.1
-1.8
4.1
.6
.8
2.9
2,7
97.7
132.7
159.5 i
170.0
154.9
150.9
152.4
160.1
169.3
170.7
47.0
81.3
107. 0
114.6
95.2
86.9
85.9
89.8
92.8
91.8
50.7
51.3
52.5
55.4
59.7
64.0
66.5
70.3
76.4
78.9
522.9
562.8
594.2
620.3
615.8
647.1
663.0
679.4
681.3
714.0
8.7
8.1
3.8
3.9
-1.3
6.7
2.1
1.8
-.2
6.0
5.6
7.6
5.6
4.4
-.7
5.1
2.5
2.5
.3
4.8
30.3
30.3
33.9
35.0
36.9
41.0
47.3
50.7
58.9
63.5
172.9
182.8
193.1
197.6
202.7
209.6
229.3
248.3
259.2
256.7
90.8
95.6
103.1
102.2
100.6
100.5
112.5
125.3
128.3
121.8
82.0
87.1
90.0
95.4
102.1
109.1
116.8
123.1
130.9
134.9
732.4
752.4
791.0
823.0
867.1
914.6
964.3
995.7
1,043.1
1, C68. 2
2.3
2.5
5.8
4.0
5.3
5.9
5.9
2.7
4.4
2.6
2.6
2.7
5.1
4.0
5.4
5.5
5.4
3.3
4.8
2.4
67.1
67.9
72.7
87.4
93.0
90.0
96.1
98.4
108.9
119.8
65.7
68.5
75.9
79.9
77.1
67.5
80.4
88.2
97.9
102.0
250.2
249.4
253.1
252.5
257.7
262.6
263.3
268.5
273.2
274.1
110.7
103.9
102.1
96.6
95.8
96.5
96.4
100.6
98.6
99.2
139.5
145.5
151.0
155.9
161.8
166.1
166.9
167.9
174.6
174.9
, 071. 0
,100.9
, 161. 7
, 218. 5
,209.9
1, 212. 1
1, 266. 4
1, 327. 4
1,385.1
1, 421. 0
-.3
3.0
5.7
5.5
-1.4
-1.3
5.9
5.3
4.4
2.3
.3
2.8
5.5
4.9
-.7
.2
4.5
4.8
4.4
2.6
17.2
17.6
17.7
13.8
30.8
31.4
30.7
27.7
13.6
13.7
13.0
13.9
74.5
75.9
76.0
75.2
36.5
37.1
36.3
34.9
38.0
38.8
39.7
40.4
463.9
468.4
470.8
471.0
3.0
.4
5.0
3.9
2.1
.1
4.1
5.6
6.9
5.3
10.7
8.0
7.7
7.5
26.0
23.6
23.9
23.2
15.3
15.6
16.2
15.6
76.0
82.5
86.5
90.9
35.7
41.2
44.5
47.9
40.3
41.3
42.0
43.0
473.2
480.4
483.9
490.6
3.0
7.5
4.1
4.2
1.9
6.2
3.0
5.6
22.5
22.2
24.1
27.1
— 3
-7!l
-2.5
-7.7
10.5
10.2
9.0
5.7
25.9
25.7
24.1
21.1
15.4
15.5
15.1
15.4
92.5
96.4
98.4
97.5
47.9
49.6
49.9
48.1
44.6
46.8
48.5
49.4
491.3
496.1
495.9
496.9
-3.9
-1.6
3.7
-3.3
44.8
48.9
53.0
53.3
30.5
33.4
35.2
33.5
4.4
7.7
8.0
22.1
5.2
5.1
2.4
3.4
21.1
21.6
21.9
22.4
15.9
16.5
19.5
19.0
98.2
95.8
94.9
101.5
47.9
45.1
44.1
50.6
50.3
50.7
50.8
50.9
507.0
517.4
534.4
532.5
19.4
11.1
13.8
9.4
.5
3.9
-.1
.8
8.4
8.4
13.8
-1.4
96.8
100.3
94.0
85.5
51.8
53.0
53.9
52.9
31.6
27.3
25.5
25.7
13.4
19.9
14.6
7.0
4.1
6.8
9.3
9.6
23.4
25.5
27.1
27.6
19.4
18.7
17.8
18.0
115.1
127.7
140.0
147.7
64.6
76.3
88.4
96.1
50.5
51.3
51.6
51.6
549.0
553.3
570.1
578.7
5.7
7.9
8.2
.7
12.9
3.2
12.7
6.2
138.6
139.9
141.4
143.3
86.6
77.6
80.8
87.8
53.1
53.7
48.9
52.8
26.2
26.6
26.4
27.8
7.3
-2.7
5.4
7.2
8.7
5.9
3.1
2.0
27.9
25.0
23.3
23.7
19.1
19.0
20.1
21.7
152.4
159.1
163.4
163.1
100.4
106.2
111.5
110.0
52.0
52.9
52.0
53.0
584.0
594.8
592.9
605.3
3.9
4! 5
9.8
3.7
7.6
-1.3
8.6
176.1
176.6
175.2
174.9
144.3
146.0
146.5
145.2
87.9
89.3
86.2
78.8
55.6
55.8
57.0
56.6
28.3
28.4
27.4
27 2
3.9
5.1
1.9
-5.0
2.1
1.5
2.1
2.3
23.5
24.0
24.3
23.7
21.4
22.5
22.2
21.3
168.6
170.
169.7
171.8
113.5
115.9
114.2
115.0
55.1
54.2
55.5
56.8
618.2
621.1
620.6
621.4
6.5
2.6
-2.4
-3.8
8.8
1.9
-.4
.6
41.9
42.5
43.5
46.1
175.8
175.0
177.2
180.0
146.7
149.6
152.0
153.3
79.
80.
84.
90.
55.3
54.8
55.9
55.5
27.5
29.3
31.1
33.0
-3.4
-4.1
-2.7
1.5
2.8
4.3
4.8
5.9
23.2
25.9
25.4
26.6
20.4
21.6
20.5
20.7
161.
154.
152.
150.
102.9
95.4
92.2
89.9
58.5
58.9
60.4
60.8
611.5
609.7
617.1
624.6
-5.3
-1.6
5.9
7.8
-6.2
-1.1
4.9
4.9
386.
393.
397.
403.
49.2
52.4
53.9
53.3
181.4
184.4
185.9
189.8
155.6
156.4
157.6
160.5
98.
104.
106.
108.
56.6
60.1
63.
65.
35.5
36.0
35.2
33.7
5.9
8.0
7.8
9.2
5.9
3.
4.
4.
27.7
26.9
28.5
28.6
21.8
23.2
23.6
24.2
151.
149.
151.
150.
87.9
85.8
87.8
86.3
63.1
64.0
64.1
64.6
635.2
642.7
652.5
657.8
10.0
6.1
6.0
4.1
7.0
4.8
6.2
3.3
664 1
667. 5
667.9
675 "
4®
404.
406.
410.
50.4
49.9
49.2
49.8
191.6
191.1
191.2
192.5
162.1
163.8
165.7
167.9
104.
102.
102.
102.
64.
65.
66.
65.
32.5
32.3
31.6
31.1
7.5
5.5
4.9
5.4
30.0
31.9
33.2
34.1
25.1
25.1
25.5
24.4
150.
152.
151.
153.
85.5
86.6
85.0
86.4
65.3
66.3
66.7
67.4
656.5
662.0
663.0
670.3
-1.7
2.1
.2
4.8
-.7
3.3
.6
4.5
1957- I
II
III
IV . . .
680 4
680 9
685 6
676.
412.
413.
416.
416.
51.
49.
49.
49.
193.1
193.9
196.7
195.7
168.5
169. 6
170.3
172.2
98.
98.
100.
91.
65.
65.
67.
65.
30.4
29.6
29.3
29.5
2.5
2.9
3.7
-3.0
5.
6.
7.
9.
10.
9.
8.
6.
36.2
35.8
34.6
32.8
26.1
26.3
25.7
25.9
159.
159.
160.
161.
90.0
90.3
89.9
88.8
69.0
69.6
70.6
72.2
677.9
678.0
682.0
679.7
2.8
.3
2.8
-5.1
4.6
.1
2.4
-1.3
1958: 1
II
III
IV
663
668.
684.
702.
411.
415.
421.8
426. S
46.
45.
46.
47.
193.4
194.9
198.3
200.6
172.4
175.2
177.4
178.1
83.
81.
88.
98.
61.
58.
57.
58.
28.7
28.7
30.8
34.1
-6.8
-6.2
.3
5.3
4.
3.
4.
2.
30.3
30.8
31.0
30.9
26.2
27.3
27.0
28.5
164.
168.
170.
174.
90.2
92.6
93.3
95.4
74.0
75.3
76.9
79.5
670.2
674.4
684.0
696.8
-7.6
2.9
10.0
10.8
-5.5
2.5
5.8
7.7
37.9
39.2
38.3
36.9
5.0
13.0
-.4
8.2
.
—. J
1.
1.
30.0
30.5
33.0
32.3
29.5
30.8
31.4
30.7
171.
171.
170.3
169.3
92.9
92.4
91.2
90.7
78.9
78.9
79.1
78.6
705.7
713.3
718.9
718.0
5.0
9.1
-4.2
4.3
5.2
4.4
3.2
-.5
1947
1948
1949
.
...
1947' I
II
III
IV
1948: 1
II
Ill
IV
1949:1
II
III
IV
....
...
1959- 1
60.
50.
203.2
181.3 103.
710
435.1
62.
II . . .
183.7
114.
52.
204.6
440.8
726.
64.
102.
Ill
53.
205.5
444.4I
718.
185. e) 109.
64.
IV
50.
206.8
445. (>
726.
188. C
» Preliminary.
NOTE.—GNP = Gross national product; CBI=Change in business inventories.
16.6
8.5
8.8
4.0
7.4
4.9
2.0
4.5
4.7
7.3
8.9
3.5 J
.9
SURVEY OF CURRENT BUSINESS
January 1980
39
Table B.-—Gross National Product in Constant Dollars—Continued
[Billions of 1972 dollars; quarterly data are seasonally adjusted at annual rates]
Personal consumption expenditures
Year and
quarter
Gross private domestic investment
Government purchases of
goods and services
Net exports
GNP
Total
Durable
goods
Nondurable
goods
Services
Total
NonResiresiden- dential
tial
CBI
Net
Exports
Imports
Total
State and
local
Federal
Final
sales
Percent change
from preceding
period
GNP
Final
sales
1960: 1
II
Ill
IV
740.7
738.9
735.7
731.9
449.2
455.1
453.6
454.1
52.2
53.4
52.9
51.5
207.2
209.5
208.1
208.1
189.8
192.2
192.6
194.4
118.5
106.7
101.8
94.7
66.7
67.0
65.2
65.2
38.2
34.8
33.5
33.4
13.5
4.9
3.0
-3.9
3.8
4.6
5.9
7.7
34.6
35.6
36.3
36.7
30.8
31.0
30.3
29.0
169.2
172.4
174.4
175.4
89.3
90.8
91.5
91.7
79.9
81.6
82.9
83.7
727.1
734.0
732.7
735.8
8.2
-1.0
-1.7
-2.0
5.2
3.8
-.7
1.7
1961: 1
II
III..
IV
636.6
749.0
758.7
776.9
454.8
460.8
462.2
471.1
48.6
49.3
50.4
52.8
209.6
211.6
211.7
214.8
196.6
199.8
200.1
203.6
93.9
101.2
107.9
111.3
64.0
65.2
65.6
67.6
33.8
34.0
35.7
37.0
-3.8
1.9
6.6
6.7
8.5
6.2
6.0
6.2
37.5
35.5
37.2
38.0
29.0
29.3
31.2
31.9
179.3
180.9
182.6
188.3
93.0
94.9
95.7
99.0
86.4
86.0
86.9
89.3
740.3
747.1
752.1
770.2
2.6
6.9
5.3
10.0
2.5
3.7
2.7
10.0
10.6
9.2
8.0
4.7
7.6
7.0
9.3
7.1
5.0
6.8
6.2
5.2
37.9
40.4
40.3
39.9
32.9
33.7
34.1
34.7
191.1
191.8
194.5
194.9
102.4
102.4
104.0
103.5
88.7
89.3
90.5
91.4
777.5
789.1
796.3
801.0
5.9
5.3
3.0
.7
3.8
6.1
3.7
2.4
5.4
7.5
7.0
9.1
39.5
42.2
42.5
44.6
34.1
34.8
35.5
35.5
195.9
195.1
199.2
200.2
102.6
101.0
102. 6
102.3
93.3
94.0
96.5
97.9
805.9
816.8
829.5
839.8
3.9
5.1
7.5
3.9
2.4
5.5
6.4
5.0
11.9
10.3
10.8
10.5
47.4
46.6
48.1
48.9
35.5
36.4
37.3
38.4
201.7
203.5
202.4
203. 2
102.2
101.7
99.5
99.0
99.5
101.8
103.0
104. 3
855.0
864.0
873.2
876.1
6.9
5.1
3.9
1.6
7.5
4.3
4.3
1.3
7.2
9.2
8.7
7.6
44.1
51.0
50.5
50.8
37.0
41.8
41.8
43.3
202.5
207.2
211.3
217.4
97.2
99.3
100.6
104.8
105.3
107.9
110.7
112.6
889.7
905.8
919.9
943.2
8.9
6.0
7.1
8.7
6.4
7.4
6.4
10.5
1962:1.
II
Ill
IV
. .
788.1
798.3
804.3
805.8
475.3
480.7
484.6
490.8
53.9
55.2
55.7
58.1
216.5
217.3
219.3
220.8
205.0
208.2
209.6
212.0
116.7
119.1
119.1
114.8
69.0
71.3
72.2
71.3
37.1
38.6
38.9
38.8
1963:1
II
III.
IV
....
813.5
823. 7
838.8
846.9
493.9
498.3
504.8
508.4
59.2
60.4
61.1
62.0
221. 5
222.3
224.1
224.2
213.3
215.5
219.6
222.2
118.3
122.9
127.8
129.2
70.5
72.7
74.6
76.4
1964:1
II
III
IV
...
861.1
872.0
880.5
883.9
517.4
526.4
535.0
536.0
64.1
65.6
67.6
65.4
228.2
232.2
236.1
236.7
225.1
228.5
231.3
233.9
130.1
131.9
132.2
134.3
77.6
79.9
82.2
84.5
40.2
43.3
43.9
45.6
46.4
44.1
42.8
41.9
903.0
916.4
932.3
952.0
546. 7
551.4
559. 8
574.5
239.3
240.9
244.1
251.8
236. 1
239.1
241.9
245.9
146.7
148.5
152.5
152.6
90.0
93.8
97.1
101.5
43.4
44.1
43.0
42.3
969.6
976.3
985.4
992.8
581.7
582. 8
589.0
590.8
71.4
71.4
73.9
76.9
80.4
76.9
79.4
79.1
6.1
8.0
7.3
7.9
13.4
10.6
12.4
8.8
253.5
255. 4
257.2
255.9
247.8
250.5
252. 5
255.7
161.0
164.0
160.1
160.2
104.7
106.1
107.0
106.4
42.7
40.1
38.0
33.3
13.5
17.8
15.1
20.5
6.1
5.0
2.9
3.3
51.3
51.0
51.8
52.4
45.2
46.0
48.9
49.1
220.7
224.4
233.4
238.6
106.5
108.8
116.5
118.4
114.2
115.7
116.9
120.3
956.0
958.4
970.3
972.3
7.6
2.8
3.8
3.0
994.4
1, 001. 3
1, 013. 6
1, 021. 5
595.1
602.9
605.8
608.8
77.5
80.9
80.1
80.2
258.3
259.4
259.5
260.8
259.3
262.6
266.2
267.8
150.9
147.1
153.3
159.4
103.7
103.3
102.8
104.1
32.7
36.3
38.4
41.4
14.6
7.5
12.2
13.8
4.1
4.0
4.1
2.0
53.9
53.6
54.4
55.1
49.8
49.6
50.3
53.1
244.3
247.3
250.4
251.3
122.6
124.8
127.3
126.3
121.7
122.5
123.1
125.0
979.9
993.9
1, 001. 4
1, 007. 7
.7
2.8
5.0
3.2
5.6
1.0
5.0
.8
3.1
7.1
1.8
2.5
1968: 1
II
III
IV
1, 031. 4
1, 049. 4
1,061.8
1, 064. 7
620.8
628.0
640.8
644.0
85.2
86.6
90.5
90.7
266.0
268.4
273. 2
273.2
269.7
273.0
277.1
280.1
155.1
160.6
159.9
162.6
106.9
105.9
107.9
111.3
41.9
42.9
42.8
43.6
6.3
11.8
9.2
7.6
-.4
.7
.2
-2.0
56.2
58.4
61.1
58.3
56.6
57.8
60.9
60.3
255.8
260.2
260.9
260.0
127.4
129.8
129.5
126.6
128.4
130.4
131. 4
133.5
1, 025. 2
1,037.6
1,052.6
1, 057. 0
3.9
7.2
4.8
1.1
7.1
5.0
5.9
1.7
1969:1
II
III
IV
1, 074. 8
1, 079. 6
1,083.4
1, 077. 5
649.9
653.0
656.8
661.9
92.2
92.0
91.6
91.7
275.1
275.8
276.8
277.9
282.6
285.2
288.4
292.3
168.9
170.6
171.6
161.1
113.9
113.7
115.2
114.2
45.2
44.7
42.9
40.1
9.8
12.2
13.4
6.8
-1.7
-2.4
-.6
-.6
54.6
64.6
65.2
64.4
56.2
67.1
65.8
65.1
257.6
258.4
255.7
255.1
123.9
123.4
120.6
119.4
133. 7
135.0
135.1
135. 7
1, 065. 0
1,067.4
1, 070. 0
1, 070. 6
3.9
1.8
1.4
-2.2
3.0
.9
1.0
.2
1970: I
II
Ill
IV
1,073.6
1, 074. 1
1,082.0
1,071.4
665.4
668.7
673.6
668.0
89.7
90.7
90.7
84.5
280.3
281.2
283.5
285.8
154.7
154.8
156.7
152.7
111.6
111.7
110.8
106.0
40.2
38.3
39.6
43.4
2.9
4.8
6.3
3.3
1.4
1.4
2.5
.3
67.2
67.7
67.4
66.1
65.8
66.3
64.9
65.8
252.2
249.2
249.2
250.3
115.2
111.3
108.5
108.0
136.9
137.9
140.8
142.4
1,070.7
1,069.3
1, 075. 7
1,068.2
-1.4
.2
3.0
-3.8
1971: I
II..
Ill
IV
1, 095. 3
1, 103. 3
1,111.0
1, 120. 5
682.3
689.5
693.6
702.3
93.6
96.5
98.7
103.7
286.0
287.5
287.4
289.0
295.4
296.7
299.3
297.7
302.7
305.5
307.5
309.6
162.2
168.4
167.0
169.7
107.8
107.1
107.4
109.6
46.4
51.3
54.6
56.4
7.9
10.0
5.0
3.7
1.6
-1.4
-.2
-2.4
67.5
69.1
70.6
64.4
65.9
70.5
70.8
66.8
249.2
246.8
250.5
251.0
105.7
102.0
104.7
103.2
143.5
144.8
145.8
147.7
1,087.4
1, 093. 3
1, 106. 0
1, 116. 9
9.2
3.0
2.8
3.5
0
-.5
2.4
-2.8
7.4
2.2
4.7
4.0
1, 141. 2
1, 163. 0
1, 178. 0
1,202.2
713.7
728.1
737.5
752.8
106.4
109.2
111.8
117.6
291.1
298.5
301.4
306.4
316.3
320.4
324.2
328.8
179.1
186.2
190.2
197.6
113.3
114.6
116.5
122.9
60.9
61.6
61.7
63.8
4.8
10.1
12.1
10.8
-5.7
-4.4
-1.6
-1.4
76.4
74.1
74.9
78.4
254.1
253.2
252.0
253.2
104.9
103.5
100.6
99.6
149.2
149.7
151.4
153.6
1, 136. 4
1, 152. 9
1, 166. 0
1, 191. 3
7.6
7.9
5.3
8.4
7.2
5.9
4.6
9.0
1, 229. 8
1,231.1
1,236.3
1, 242. 6
767.7
766,8
770.4
765.9
124.9
123.0
121.2
118.1
310.9
307.8
310.6
308.0
331.9
336.0
338.7
339.7
204.6
207.4
204.9
211.8
128.5
130.7
132.5
132.4
64.4
62.0
58.3
54.0
11.7
14.8
14.1
25.4
2.3
5.7
9.3
12.9
70.7
69.7
73.3
77.0
84.5
86.2
88.3
90.7
82.1
80.5
79.0
77.7
255.2
251.2
251.8
252.0
100.7
96.3
95.2
94.3
154.5
154.9
156.6
157.7
1, 218. 1
1, 216. 3
1,222.2
1,217,2
9.5
.4
1.7
2.0
9.3
-.6
2.0
-1.6
1,230.2
1,224.5
1, 216. 9
1, 199. 7
761.6
761.7
766.6
752.9
115.4
114.8
115.6
104.3
305.0
303.8
305.3
301.2
341.1
343.2
345. 6
347.4
197.4
189.8
176.6
170.6
134.0
133.8
130.6
124.1
49.5
46.8
44.0
39.7
15.0
15.4
15.3
17.9
92.9
93.3
91.7
94.1
77.9
77.9
76.4
76.2
256.2
257. 6
258.5
258.3
95.8
95.4
96.4
95.7
160.4
162.2
162.1
162.6
1, 216. 2
1, 215. 3
1, 214. 9
1, 192. 9
-3.9
-1.8
-2.4
-5.5
-.3
-.3
-.1
-7.0
1975: 1..
II
III
IV
1,171.6
1, 189. 9
1,220.0
1, 227. 9
757.2
770.2
779.7
791.1
106.4
109.4
115.2
119.7
302.0
307.5
307.5
309.5
348.8
353.4
357.0
361.9
134.6
133.3
153.7
148.9
117.7
112.9
112.0
111.8
36.3
37.0
39.5
42.3
13.9
9.2
2.0
6.8
-19.4
-16.7
2.1
-5.2
20.5
24.7
22.8
22.2
89.6
87.4
90.1
93.0
69.1
62.7
67.3
70.8
259. 3
261.6
263.8
265. 7
95.9
96.2
96.7
97.3
163.4
165.4
167.2
168.4
1,191.0
1,206.5
1, 217. 9
1,233.1
-9.1
6.4
10.5
2.6
-.6
5.3
3.8
5.1
1976: 1
II
III.. .
IV
1, 259. 5
1,267.4
1,277.1
1,288.1
807.3
814. 5
824.0
836.4
125.5
126.0
126. 5
128.5
315.6
319.4
323.3
327.6
366.2
369.1
374.2
380.4
169.9
173.8
174.2
175.7
115.3
117.6
120.7
122.5
45.8
46.5
46.8
52.1
8.9
9.7
6.7
1.1
17.5
16.2
16.1
13.3
93.8
95.4
97.6
97.7
76.3
79.2
81.5
84.4
264.7
262.9
262.7
262.6
96.1
95.9
96.4
97.1
168.7
167.1
166.3
165.5
1, 250. 6
1, 257. 7
1,270.3
1, 287. 0
10.7
2.6
3.1
3.5
5.8
2.3
4.1
5.3
1977:1
II
III
IV
1,315.7
1, 331. 2
1, 353. 9
1,361.3
849.2
853.1
863.7
880.9
135.8
136.6
138.2
142.4
328.9
329.6
332.1
340.0
384.5
386.9
393.3
398.5
191.0
199. 6
206.7
203.0
126.3
128.3
130.8
131.7
53.5
57.9
59.3
60.1
11.3
13.4
16.6
11.3
11.1
10.9
13.2
5.8
96.5
99.4
100.5
97.3
85.4
88.5
87.3
91.4
264.5
267. 6
270.3
271.5
98.4
100.3
101.8
101.8
166. 0
167.3
168.5
169.8
1,304.4
1, 317. 8
1,337.3
1, 350. 0
8.9
4.8
7.0
2.2
5.5
4.2
6.0
3.9
1978: I
II
III
IV
1,367.8
1. 395. 2
1,407.3
1,426.6
882.7
894.8
905.3
920.3
139.3
147.8
147.5
152.1
337.3
339.4
344.7
351.9
406.1
407.6
413.1
416.3
209.0
216.8
214.0
217.4
133.1
140.3
141.6
145.5
59.4
60.9
60.2
60.0
16.5
15.6
12.2
12.0
5.3
12.3
13.3
12.9
100.7
109.2
111.9
113.8
95.4
96.9
98.5
101.0
270.7
271.3
274.7
276.0
99.9
96.6
98.5
99.3
170.9
174.7
176.2
176.6
1, 351. 3
1, 379. 6
1,395.1
1,414.6
1.9
8.3
3.5
5.6
.4
8.7
4.6
5.7
1979:1. ._
II
III
IV v
1,430.6
1,422.3
1, 433. 3
1,438.4
921.8
915.0
925.9
£35. 2
150.2
144.8
146.9
146.0
348.1
344.1
349.2
356.0
423.5
426.1
429.9
433.2
217.2
221.7
214.2
206.2
147.2
146.9
150.7
148.0
57.7
56.7
56.5
55.0
12.3
18.1
7.1
3.2
17.0
13.2
20.1
20.7
117.0
116.0
122.2
123.9
100.0
102.9
102.1
103.2
274.7
272.4
273.1
276.3
101.1
98.1
97.4
100.4
173.6
174.3
175.6
175.9
1,418.4
1,404.1
1,426.2
1,435.2
1.1
-2.3
3.1
1.4
1.1
-3.9
6.4
2.5
1965:1
II
Ill
IV.
.
....
1966: 1
II . . . .
Ill
IV
1967:1..
II
III
IV.
1972: I..
II
III
IV
. ..
. .
1973: I
II.
III..
IV
1974: I
II
Ill .
IV
.
" Preliminary.
SUEVEY OF CUREENT BUSINESS
40
January 1980
Table C.—Implicit Price Deflator for Gross National Product
[Index numbers, 1972=100; quarterly data are seasonally adjusted]
Government purchases of
goods and services
Personal consumption expenditures
GNP
Year and
quarter
Total
Durable
goods
Nondurable
goods
Services
Nonresidential
fixed
investment
Residential
fixed
investment
Exports
Final
sales
Imports
Total
Federal
State
and local
GNP
fixed
weighted
price index
(1972
weights)
Percent change from preceding period (Quarterly changes at annual
rates)
GNP
Final
sales
GNP
fixed^
weighted
price
index
49.70
53.13
52.59
52.8
55.9
55.7
66.8
69.1 •
69.1
58.7
62.3
60.3
41.7
44.4
46.1
46.8
51.3
52.8
53.7
58.1
58.7
65.8
69.8
65.5
60.7
66.1
62.7
33.8
38.0
39.9
35.1
39.4
41.8
32.5
36.6
37.9
49.8
52.8
52.7
13.1
6.9
-1.0
53.64
57.27
58.00
58.88
59.69
60.98
62.90
65. 02
66.06
67.52
56.8
60.5
61.9
63.1
63.6
64.2
65.5
67.6
69.1
70.4
70.8
74.7
74.8
75.5
73.2
74.0
76.0
79.2
79.4
81.9
60.7
65.8
66.5
66.3
66.6
66.3
67.3
69.4
71.0
71.4
47.4
49.9
52.6
55.4
57.2
58.5
60.2
62.2
64.2
66.0
54.3
58.9
59.9
61.0
61.4
62.6
67.0
70.7
70.6
72.0
60.0
64.4
66.4
66.9
67.1
68.7
70.9
71.3
71.2
71.0
64.0
73.1
73.0
71.9
71.2
71.8
73.9
76.7
75.7
75.4
67.8
81.8
79.1
75.8
76.9
76.8
78.3
79.5
76.5
75.7
39.4
45.3
47.4
48.5
48.9
49.7
52.1
54.4
56.1
57.2
39.9
47.1
48.9
50.2
50.4
51.1
53.4
55.7
58.1
58.7
39.0
42.4
44.2
45.1
46.6
47.8
50.4
52.8
53.8
55.4
53.4
56.8
57.9
58.9
59.7
60.8
62.7
65.0
66.1
67.4
68.1
69.1
2.0
6.8
1.3
1.5
1.4
2.2
3.2
3.4
1.6
2.2
1.3
6.4
1.9
1 8
1.3
1.8
3.2
3.6
1.7
2.0
1.6
68.67
69.28
70.55
71.59
72.71
74.32
76.76
79.02
82.57
86.72
71.7
72.5
73.6
74.7
75.7
77.1
79.3
81.3
84.6
88.5
82.1
82.7
83.9
84.7
85.7
85.6
85.7
87.4
90.7
93.1
72.6
73.3
73.9
74.9
75.8
77.3
80.1
81.9
85.3
89.4
68.0
69.1
70.4
71.7
72.8
74.2
76.5
78.8
82.0
86.1
72.2
71.8
72.3
72.9
73.6
74.5
76.8
79.3
82.6
86.6
71.4
71.3
71.5
70.9
71.2
72.3
74.6
77.0
80.7
87.7
77.1
78.0
77.3
77.5
78.3
80.5
82.8
84.0
85.3
87.9
76.7
76.1
74.5
75.6
77.1
78.0
79.7
80.1
80.9
83.3
58.0
59.2
61.1
62.6
64.0
66.0
69.2
72.6
76.7
81.0
59.1
60.0
61.8
63.3
64.8
67.0
70.1
72.6
76.4
80.0
56.8
58.3
60.3
61.9
63.3
65.1
68.4
72.5
76.9
81.9
68.6
69.3
70.5
71.5
72.7
74.2
76.6
79.0
82.5
86.7
70.3
71.1
72.0
72.8
73.7
75.0
77.2
79.5
83.0
87.1
1.7
.9
1.8
1.5
1.6
2.2
3.3
2.9
4.5
5.0
1.7
1.0
1.7
1.5
1.6
2.1
3.3
3.1
4.5
5.1
1.7
1.1
1.3
1.1
1.2
1.8
2.9
3.0
4.3
5.0
91.36
96.02
100.00
105.80
116.02
127. 15
133. 71
141.70
. . . . 152.05
165.50
92.5
96.6
100.0
105.5
116.9
126.4
132.8
140.4
150.0
163.3
95.5
99.0
100.0
101.6
108.4
117.7
124.3
129.4
136.5
144.8
93.6
96.6
100.0
107.9
123.8
133.4
138.1
144.7
154.6
170.9
90.5
95.8
100.0
104.7
113.6
123.2
131.2
140.7
150.9
163.5
91.3
96.4
100.0
103.8
115.3
132.2
138.5
146.6
157.8
171.3
90.6
94.9
100.0
110.8
122.3
132.8
142.5
159.3
179.7
201.7
93.1
96.6
100.0
116.2
148.3
163. 6
169.9
178.7
190.3
214.9
89.1
93.5
100.0
118.2
171.0
188.0
193.3
210.7
222.1
255.7
87.5
93.7
100.0
106.7
117.5
128.9
137.2
147.6
159.4
173.7
86.4
92.6
100.0
105.8
115.9
127.5
134.6
143.6
154.8
167.6
88.3
94.5
100.0
107.3
118.4
129.7
138.8
150.0
162.1
177.2
91.4
96.0
100.0
105.8
116.0
127.0
133.6
141.5
152.0
165.4
91.6
96.1
100.0
106.0
116.8
127.7
134.8
143. 5
154.2
168.7
5.4
5.1
4.1
5.8
9.7
9.6
5.2
6.0
7.3
8.8
5.4
5.1
4.1
5.8
9.7
9.5
5.2
5.9
7.4
8.8
5.2
4.9
4.0
6.0
10.2
9.3
5.6
6.4
7.5
9.4
1947: I
II
III
IV
48.47
49.00
49.86
51.42
51.5
52.0
53.1
54.6
66.0
66.7
67.1
67.3
57.3
57.8
58.9
60.8
40.6
41.0
42.2
43.2
44.9
46.3
47.4
48.7
50.3
53.3
54.6
55.9
62.9
65.7
66.7
68.0
57.2
62.0
61.0
62.4
33.0
33.5
33.6
34.7
34.5
35.2
34.6
36.0
31.6
31.9
32.6
33.7
48.4
49.1
50.1
51.4
4.4
7.2
13.2
6.2
8.5
10.7
1948: I
II
III
IV
52.29
52.90
53.79
53.53
55.1
55.7
56.5
56.2
67.3
68.7
70.6
69.6
61.7
62.3
63.0
62.2
43.4
44.0
44.8
45.3
49.4
50.4
52.3
52.9
56.9
57.5
58.9
59.3
69.8
70.1
70.3
69.0
64.8
66.2
66.8
66.6
36.5
37.2
38.4
39.6
38.3
38.6
39.5
41.0
34.8
35.8
37.3
38.0
52.0
52.4
53.3
53.2
6.9
4.7
6.9
-1.9
5.0
3.0
6.7
-.5
1949: I
II
III.
IV...
52.98
52.49
52.43
52.44
55.8
55.6
55.5
55.7
69.2
68.4
68.7
69.9
61.3
60.5
59.8
59.5
45.5
45.8
46.2
46.7
52.5
53.1
52.9
52.8
59.6
59.5
57.9
57.8
67.6
66.3
64.4
63.1
64.9
62.8
61.7
61.4
39.6
39.9
39.8
40.2
41.3
41.8
41.4
42.6
37.9
37.8
38.1
37.9
53.0
52.8
52.5
52.7
-4.0
-3.7
-.5
.1
-2.1
—1.1
-2.3
1.4
1950: I
II
III
IV
52.28
52.72
54.30
55.16
55.7
55.9
57.5
58.0
70.0
70.4
71.3
71.3
59.2
59.6
61.4
62.7
46.9
47.0
47.5
48.2
52.7
53.2
54.6
56.2
57.6
59.1
61.4
61.5
62.1
61.7
64.1
67.8
62.3
64.4
68.8
74.2
38.4
38.5
40.1
40.8
38.8
38.6
40.8
41.3
38.0
38.4
39.4
40.3
52.3
52.6
54.2
54.6
-1.2
3.5
12.5
6.5
-3.2
2.5
12.9
3.1
1951: I
II
Ill .
IV
56.89
57.18
57.20
57.80
60.1
60.2
60.4
61.2
74.8
74.3
74.5
75.1
65.3
65.8
65.6
66.4
49.0
49.6
50.2
51.1
58.3
58.7
59.0
59.5
63.4
64.3
64.8
65.4
71.0
74.6
73.6
73.1
79.4
84.1
83.2
80.5
43.1
44.4
46.0
47.1
44.4
46.0
47.9
49.1
41.4
42.1
42.9
43.3
56.3
56.5
56.8
57.6
13.1
2.0
.2
4.3
13.4
.8
2.6
5.6
57.69
57.64
58.00
58.65
61.5
61.5
61.9
62.6
75.2
73.8
74.4
75.9
66.5
66.3
66.6
66.8
51.6
52.3
53.0
53.5
59.7
60.0
59.5
60.2
65.7
66.4
66.9
66.6
73.3
73.6
73.0
72.1
80.7
79.8
78.2
77.8
46.5
47.5
47.4
48.0
48.1
49.1
48.8
49.6
43.5
44.1
44.5
44.8
57.5
57.8
57.8
58.5
-.8
-.3
2.5
4.6
-.6
1.7
.3
4.5
1953: I
II
III
IV
58.73
58.88
59.08
58.81
62.8
62.9
63.3
63.3
76.0
76.6
76.1
73.3
66.4
66.2
66.4
66.3
54.4
55.0
55.8
56.6
60.3
60.9
61.5
61.0
66.7
66.7
67.2
66.9
71.9
71.5
72.1
72.1
76.4
75.5
75.8
75.5
48.5
48.6
48.5
48.5
50.4
50.2
50.1
50.1
44.5
45.1
45.3
45.5
58.7
58.9
59.2
59.1
.5
1.1
1.4
-1.8
1.8
1.0
2.0
-.6
1954: I
II
III
IV
59.54
59.74
59.61
59.90
63.6
63.8
63.4
63.5
74.4
75.0
72.0
71.5
66.6
66.9
66.6
66.4
57.0
57.0
57.2
57.6
61.0
61.3
61.4
61.8
66.5
66.8
67.5
67.5
71.3
71.5
70.9
71.2
75.5
77.5
77.4
77.2
49.2
48.9
48.9
48.7
51.3
50.3
50.1
49.8
45.6
46.5
47.0
47.2
59.6
59.8
59.7
59.8
5.0
1.4
-.9
2.0
3.8
1.1
-.6
1.0
1955: I
II. .
Ill
IV
60.44
60.76
61.18
61.50
63.9
64.1
64.4
64.4
73.6
73.6
74.9
73.8
66.4
66.3
66.3
66.2
57.9
58.2
58.6
59.1
61.5
61.9
62.9
63.9
67.8
68.5
69.1
69.3
71.0
71.5
72.0
72.6
76.8
76.4
76.4
77.4
49.2
49.5
49.6
50.5
50.6
51.0
50.9
52.1
47.2
47.4
48.0
48.4
60.3
60.6
61.0
61.3
3.7
2.1
2.8
2.1
2.9
2.0
2.8
2.0
1956: I
II
III . .
IV
62.03
62.54
63.25
63.77
64.7
65.2
65.7
66.3
74.6
75.4
75.9
78.2
66.4
67.0
67.7
68.0
59.6
59.9
60.4
60.9
65.5
66.1
67.6
68.9
70.0
71.2
71.4
71.2
73.6
73.8
73.9
74.2
78.1
78.3
78.1
78.7
52.5
53.3
53.9
54.0
49.5
50.0
50.7
51.3
61.8
62.4
63.1
63.6
3.5
3.3
4.6
3.3
3.5
3.8
4.5
3.5
1957: I . . .
II
III
IV
64.51
64.77
65.37
65.44
66.9
67.4
68.0
68.2
78.5
79.3
79.7
79.2
68.7
69.1
69.8
70.0
61.5
61.9
62.5
63.1
70.1
70.5
70.9
71.3
71.2
71.4
71.7
71.1
76.3
76.4
77.1
77.3
79.8
79.8
79.8
78.7
51.2
51.9
52.5
52.8
54.2
54.1
54.5
54.7
55.9
55.2
55.7
55.9
52.0
52.8
53.0
53.2
64.4
64.7
65.3
65.5
4.7
1.6
3.8
.4
5.2
1.7
3.5
1.4
65.69
65.83
66.21
66.41
68.9
69.0
69.1
69.3
79.7
79.0
79.5
79.4
71.1
71.3
71.0
70.8
63.6
63.9
64.4
64.9
70.0
70.4
70.7
71.3
71.0
71.2
71.3
71.3
76.2
75.7
75.5
75.5
77.4
76.6
76.2
75.8
55.5
56.1
56.5
56.4
57.2
57.9
58.4
58.6
53.4
53.9
54.2
53.8
65.8
66.0
66.2
66.3
67.8
68.0
68.2
68.3
1.6
.9
2.3
1.2
2.2
.9
1.5
.6
1.0
1.4
.4
66.98
67.45
67.70
67.95
69.8
70.1
70.7
71.0
81.4
82.0
82.3
81.9
71.0
71.2
71.6
71. Q
65.0
65.6
66.4
fi? n
71.8
72.1
72.1
71.0
71.0
71.0
71 1
75.3
75.3
75.3
75 8
75.2
75.9
75.5
7fi 3
57.0
57.2
57.3
57 3
58.4
58.8
58.8
58.8
55.2
55.4
55.4
55. 5
66.9
67.2
67.7
67.8
68.7
69.0
69.3
69.6
3.4
2.9
1.5
1.5
3.4
2.1
2.6
.9
2.3
1.8
2.1
1.7
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
.
I960
1961
1962
1963 -.
1964
1965
1966
1967
1968
1969
1970
1971
1972..
1973...
1974
1975. .
1976
1977
1978..
1979 v
....
1952: I
II..
Ill
IV
1958: I
II...
Ill
IV
1959: I
II
III
IV.
-.
.
..
.
» Preliminary.
NOTE.—GNP=Gross national product.
71 Q
13.8
6.0
0
SURVEY OF CUEKENT BUSINESS
January 1980
41
Table C.—- Implicit Price Deflator for Gross National Product—Continued
[Index numbers, 1972=100; quarterly data are seasonally adjusted]
Personal consumption expenditures
Nonresidential
fixed
investment
GNP
Year and
quarter
Total
Durable
goods
Nondurable
goods
Services
Residential
fixed
investment
Government purchases of
goods and services
Exports
Final
sales
Imports
Total
Federal
State
and local
GNP
fixed
weighted
price index
(1972
weights)
Percent change from preceding period (Quarterly changes at annual
rates)
GNP
Final
sales
GNP
fixedweighted
price
index
I960: I
II
Ill
rv
68.42
68.55
68.81
68.94
71.2
71.6
71.9
72.2
82.3
82.1
82.1
81.8
71.8
72.5
72.7
73.3
67.5
67.7
68.1
68.6
72.4
72.5
72.3
71.8
71.2
71.4
71.5
71.4
76.4
77.1
77.9
77.1
76.8
77.1
76.8
76.1
57.5
57.6
58.4
58.5
58.6
58.5
59.6
59.8
56.2
56.6
57.0
57.2
68.1
68.4
68.8
69.0
69.8
70.1
70.5
70.8
2.6
.9
1.5
.8
2.0
1.6
2.1
1.2
0.8
2.2
2.1
1.6
1961: I
II
Ill
IV
68.85
69.18
69.48
69.59
72.2
72.3
72.6
72.7
81.5
82.6
83.2
83.3
73.4
73.1
73.3
73.3
68.6
68.9
69.3
69.5
71.5
71.8
71.8
72.1
71.3
71.3
71.3
71.3
77.2
78.4
78.1
78.2
76.1
76.2
76.1
76.0
58.6
59.1
59.4
59.7
59.5
60.0
60.2
60.0
57.6
58.0
58.4
58.3
68.9
69.1
69.4
69.5
70.9
71.0
71.2
71.3
-.5
1.9
1.7
.7
-.4
1.4
1.5
.8
.6
.7
1.2
.4
1962: I
II
III .
IV
70.17
70.41
70.60
71.03
73.1
73.4
73.7
74.0
83.5
83.9
84.0
84.0
73.6
73.9
74.0
74.3
69.9
70.2
70.6
71.0
72.2
72.2
72.2
72.5
71.5
71.6
71.5
71.4
77.7
77.3
77.1
77.0
74.8
74.8
74.3
74.2
60.8
60.9
61.1
61.8
61.5
61.5
61.6
62.6
59.9
60.2
60.1
60.8
70.1
70.3
70.5
70.9
71.7
71.9
72.1
72.3
3.4
1.4
1.0
2.5
3.0
1.6
.9
2.5
2.3
1.1
1.0
1.5
1963: I
II
Ill
IV
71.32
71.37
71.58
72.07
74.3
74.5
74.8
75.2
84.2
84.6
84.8
85.3
74.6
74.6
75.1
75.3
71.3
71.5
71.8
72.2
72.8
72.7
72.8
73.2
71.6
71.1
70.2
70.6
77.2
77.5
77.6
77.6
74.6
75.2
76.0
76.3
62.3
62.2
62.4
63.5
63.3
62.6
62.8
64.3
61.2
61.7
62.5
61.9
71.3
71.3
71.5
72.0
72.6
72.7
72.8
73.2
1.7
.3
1.2
2.7
1.9
.4
1.0
2.8
1.3
.5
1.0
1.9
1964- I
II
III
IV
72.28
72.53
72.93
73.08
75^5
75.6
75.8
76.0
85.7
85.8
85.9
85.6
75.7
75.7
75.9
76.1
72.4
72.5
72.9
73.3
73.4
73.5
73.8
73.8
69.9
70.8
71.8
72.2
77.7
78.0
78.5
78.9
77.0
77.3
77.1
77.2
63.6
63.9
64.2
64.4
64.5
64.7
65.0
65.2
62.7
63.1
63.4
63.7
72.3
72.5
72.8
73.0
73.4
73.5
73.8
74.1
1.2
1.4
2.2
.9
1.3
1.1
2.2
1.1
1.0
.9
1.8
1.3
73.68
74.06
74.56
74.92
76.4
76.9
77.3
77.6
86.1
85.8
85.4
85.0
76.3
77.2
77.6
78.0
73.6
74.0
74.5
74.9
74.2
74.2
74.7
74.9
72.2
71.5
72.8
72.9
80.5
80.6
80.7
80.3
77.6
77.5
78.1
78.8
65.1
65.5
66.3
67.2
65.8
66.3
67.1
68.5
64.4
64.8
65.5
65.9
73.5
73.9
74.4
74.8
74.4
74.8
75.2
75.5
3.3
2.1
2.7
2.0
2.8
2.2
2.7
2.1
1.9
2.2
2.0
1.5
1966: I
II
Ill .
IV
75.68
76.57
77.02
77.73
78.4
79.0
79.6
80.2
85.0
85.4
85.9
86.5
79.1
79.9
80.4
81.1
75.5
76.1
76.9
77.4
75.6
76.6
77.0
77.9
72.9
75.2
74.6
75.9
81.2
82.4
83.4
84.3
78.8
79.7
79.9
80.5
67.9
69.2
69.4
70.2
69.1
70.6
69.9
70.5
66.8
67.9
69.0
69.9
75.5
76.4
76.9
77.6
76.2
76.9
77.6
78.2
4.1
4.8
2.4
3.7
4.0
4.6
2.6
3.6
3.5
4.0
3.5
3.3
1967: I
II
Ill
IV...
78.19
78.48
79.24
80.15
80.4
80.9
81.6
82.3
86.3
86.8
87.8
88.7
81.1
81.4
82.2
82.9
78.0
78.5
79.1
79.8
78.3
79.0
79.6
80.4
76.6
76.6
77.4
77.4
84.0
83.8
84.0
84.1
80.4
80.0
80.3
79.7
71.7
71.8
72.7
74.1
72.3
71.6
72.3
74.2
71.1
72.0
73.0
74.0
78.1
78.5
79.2
80.1
78.6
79.1
79.8
80.7
2.4
1.5
3.9
4.7
2.8
.6
5.0
4.7
2.0
2.5
3.8
4.4
1968: I
II-..
III
IV...
81.18
82.12
82.88
84.04
83.4
84.2
85.0
85.9
89.7
90.2
90.9
91.7
83.8
84.8
85.6
86.7
80.9
81.6
82.4
83.2
81.2
82.2
83.1
84.0
78.8
80.0
80.9
83.1
83.8
85.9
85.8
85.9
80.2
81.2
80.9
81.4
75.4
76.2
76.7
78.3
75.5
75.9
76.2
78.0
75.3
76.4
77.3
78.6
81.2
82.0
82.8
84.0
81.6
82.5
83.4
84.4
5.2
4.7
3.7
5.7
5.5
4.4
4.0
5.5
4.7
4.6
4.3
4.9
1969: I
II
Ill .IV
84.95
86.05
87.40
88.48
86.7
87.9
89.0
90.1
92.0
92.8
93.4
94.1
87.5
88.8
90.0
91.2
84.3
85.5
86.6
87.9
84.9
86.9
87.2
88.4
85.3
86.0
88.9
90.0
86.4
86.7
88.1
90.3
81.9
82.1
83.3
85.9
79.2
80.0
81.8
82.9
78.4
78.6
81.2
81.9
80.0
81.3
82.4
83.8
84.9
86.0
87.4
88.5
85.3
86.5
87.8
88.8
4.4
5.3
6.4
5.0
4.6
5.4
6.4
5.0
4.6
5.3
6.3
4.8
1970: I
II
III . .
IV . . . .
89.81
90.91
91.74
92.99
91.1
92.0
92.8
94.1
94.5
95.0
95.6
97.2
92.4
93.3
93.9
94.9
88.9
89.8
90.9
92.4
89.5
90.7
91.8
93.3
89.9
91.0
90.4
90.9
91.2
92.8
94.1
94.2
87.1
88.2
90.5
90.6
85.4
86.9
88.0
89.6
85.0
85.9
86.7
88.1
85.7
87.7
89.1
90.7
89.8
90.9
91.7
93.0
90.1
91.2
92.0
93.3
6.2
5.0
3.7
5.6
6.3
5.0
3.6
5.8
5.8
4.9
3.5
5.9
1971: I
II . . .
Ill _...
IV
94.40
95.73
96.53
97.38
95.1
96.1
97.2
97.8
99.2
99.4
98.9
98.4
95.3
96.2
97.1
97.8
93.6
95.0
96.7
97.7
94.9
95.9
96.9
97.7
92.4
94.4
95.4
97.1
96.5
96.5
96.6
96.9
92.9
92.6
93.7
94.8
91.8
93.6
94.0
95.5
90.7
93.0
92.1
94.6
92.6
94.1
95.3
96.1
94.4
95.7
96.5
97.4
94.6
95.8
96.7
97.5
6.2
5.7
3.4
3.6
6.0
5.7
3.4
3.6
5.7
5.1
4.1
3.2
1972: I
II
III .
IV . . .
98.76
99.45
100.29
101. 44
98.9
99.5
100.3
101.2
99.6
100.1
100.3
100.0
98.8
99.3
100.3
101.6
98.7
99.6
100.3
101.3
99.0
99.7
100.4
100.8
98.0
98.4
100.3
103.3
97.7
99.2
100.3
102.6
96.5
98.9
101.1
103.5
98.0
99.2
100.4
102.4
98.3
99.3
99.7
102.7
97.8
99.1
100.9
102.2
98.8
99.4
100.3
101.5
98.8
99.4
100.3
101.5
5.8
2.9
3.4
4.7
5.7
2.8
3.4
4.8
5.4
2.6
3.6
4.8
1973: I
II . . .
Ill
IV . . .
102. 89
104.65
106.57
109.05
102.5
104.5
106.2
108.8
100.6
101.3
101.9
102.5
103.4
106.4
108.9
113.0
102.5
103.8
105.3
107.1
101.5
103.0
104.6
106.0
106.0
109.8
113.2
115.0
105.8
112.1
119.2
126.8
106.8
114.8
120.5
131.5
104.2
105.5
107.0
110.3
103.5
103.9
105.2
110.7
104.6
106.5
108.1
110.0
102.9
104.7
106.5
108.9
103.1
104.9
106.8
109.1
5.8
7.0
7.5
9.6
5.9
6.9
7.4
9.4
6.3
7.2
7.7
8.6
1974: I. . .
II
III . .
IV..
111.28
114. 34
117. 52
121. 06
112.1
115.4
118.6
121.7
103.5
106.4
110.5
113.9
118.2
122.5
125.7
129.0
109.6
112.2
115.0
117.7
108.5
112.5
117.6
123.4
117.8
120.8
124.6
127.0
136.1
143.9
153.4
160.0
148.9
168.2
180.8
186.7
112.1
115.6
119.2
122.9
110.3
114.1
117.2
122.1
113.2
116.5
120.3
123.4
111.4
114.1
117.5
121.2
112.0
115.0
118.4
121.9
8.4
11.4
11.6
12.6
9.5
10.1
12.4
13.0
10.8
11.2
12.4
12.6
1975: I__
II.
III.
IV
124. 16
125. 95
128. 19
130. 14
123.6
125.3
127.5
129.1
115.3
117.1
118.4
119.9
130.3
131.9
134.9
136.2
120.2
122.1
124.0
126.2
128.1
131.7
133.6
135.5
130.2
131.8
133.0
135.6
164.4
163.1
163.2
163.6
190.8
188.7
187.4
185.3
125.7
127.7
129.7
132.3
124.6
126.1
127.8
131.4
126.3
128.7
130.8
132.8
123.8
126.1
128.0
130.0
124.3
126.3
128.8
130.8
10.7
5.9
7.3
6.2
9.1
7.4
6.4
6.2
8.2
6.6
7.8
6.6
1976: I
II.
III.
IV
131. 30
132. 79
134. 35
136. 34
130.5
131.8
133.6
135.3
121.8
123.5
125.1
126.8
136.6
137.2
138.6
139.9
128.1
130.0
132.0
134.4
136.6
137.6
139.2
140.5
137.2
141.0
143.5
147.5
166.2
168.6
170.9
173.6
188.8
190.5
196.1
197.2
134.1
136.0
137.9
141.0
132.2
133.0
134.7
138.6
135.3
137.7
139.8
142.4
131.2
132.7
134.2
136.3
132.2
133.6
135.4
137.6
3.6
4.6
4.8
6.0
3.7
4.6
4.7
6.5
1965: I.
II
III . .
IV
.
1977: I_.
II.
Ill
IV
.
138. 34
140. 93
142. 59
144. 82
137.7
139.6
141.3
143.0
128.4
128.7
129.5
130.9
142.2
144.3
145.4
146.8
137.1
139.4
142.0
144.1
142.4
145.0
147.7
150.8
152.2
157.8
160.1
166.2
176.7
179.6
179.1
179.1
210.5
208.7
213.4
210.3
143.7
146.3
148.1
152. 0
140.4
142.1
143.0
148.6
145.6
148.9
151.3
154.1
138.1
140.7
142.3
144.7
140.1
142.4
144.2
146.7
6.0
7.7
4.8
6.4
5.2
7.7
4.8
6.8
4.2
4.4
5.5
6.7
7.4
6.6
5.1
7.2
1978: I.
II
Ill
IV
.
147. 05
150. 82
153. 45
156.68
145.8
148.8
151.3
153.8
133.0
135.6
137.9
139.4
150.0
153.7
155.7
158.6
146.8
149.4
152.3
155.0
153.0
156.0
159.6
162.3
169.3
176.7
183.1
189.5
183.1
188.4
191.1
197,6
216.6
220.2
223.9
227.2
154.9
157.8
160.5
164.5
151.1
153.4
154.6
160.1
157.1
160.3
163.8
166.9
147.2
150.6
153.4
156.6
149.1
152.6
155.7
159.0
6.3
10.6
7.2
8.7
7.1
9.8
7.4
8.6
6.8
9.6
8.3
8.9
160.22
163. 81
167. 20
170. 74
157.8
161.3
165.1
169.0
142.4
144.1
145.3
147.6
164.1
168.9
173.2
177.3
158.0
161.0
165.3
169.4
165.4
169.6
173.8
176.6
192.6
199.2
205.5
210.1
203.9
210.1
218.7
226.0
234.5
244.9
264.0
278.7
167.5
171.3
175.0
180.9
161.9
164.8
167.2
176.3
170.8
174.9
179.3
183.6
160.3
163.5
167.0
170.7
162.8
166.6
170.6
174.7
9.3
9.3
8.5
8.7
9.8
8.5
8.8
9.1
9.9
9.5
10.0
9.9
1979: I
II
III
IV* .
Preliminary.
SUEVEY OF CUEEENT BUSINESS
42
January 1980
Table D.—National Income and Disposition of Personal Income
[Billions of dollars; quarterly data are seasonally adjusted at annual rates]
Proprietors'
income with
IVA and
CCAdj.
Compensation of
employees
Year and National
quarter
income
Total
SuppleWages ments
to wages
and
and
salaries
salaries
Farm
Corporate profit with IVA and
Rental
CCAdj.
income
of
persons
with
Profits Profits
Nonfarm CCAdj. Total IVA CCAdj. before after
tax
tax
Net
interest
Less:
perSaving
sonal
Less: Equals:
as
DPI in
tax
Equals: perPersonal
perperconand
DPI
income
cent- stant
sonal sonal
nontax
age
outlays sav(1972)
payof DPI dollars
ing
ments
1947
1948
1949
194.6
219.0
212.7
129.2
141.4
141.3
123.1
135.5
134.7
6.1
5.9
6.6
15.2
17.5
12.7
20.6
23.2
23.5
5.3
5.7
6.1
22.2
29.1
26.9
-5.9
-2.2
1.9
-3.4
-3.9
-3.8
31.5
35.2
28.9
20.2
22.7
18.7
2.1
2.1
2.2
189.8
208.5
205.6
21.4
21.0
18.5
168.4
187.4
187.1
163.5
176.9
180.4
4.9
10.6
6.7
2.9
5.7
3.6
318.8
335.5
336.1
1950
1951
. .
1952
1953
1954
._
1955
1956—.
1957
1958
1959
236.2
272.3
285.8
299.7
299.1
328.0
346.9
362.3
364.0
397.1
154.8
181.0
195.7
209.6
208.4
224.9
243.5
256.5
258.2
279.6
147.0
171.3
185.3
198. 5 '
196.8
211.7
228.3
239.3
240.5
258.9
7.8
9.7
10.4
11.0
11.6
13.2
15.2
17.2
17.7
20.6
13.5
15.8
14.9
12.9
12.3
11.3
11.2
11.0
13.1
10.7
24.9
27.0
28.0
28.4
28.5
31.2
32.4
33.9
34.3
36.6
7.1
7.7
8.8
10.0
11.0
11.3
11.6
12.2
12.9
13.2
33.7
38.1
35.4
35.5
34.6
44.6
42.9
42.1
37.5
48.2
-5.0
-1.2
1.0
-1.0
-.3
-1.7
-2.7
-1.5
-.3
-.5
-4.0
-4.6
-4.5
-4.1
-3.2
-2.1
-3.0
-3.3
-3.4
-2.9
42.6
43.9
38.9
40.5
38.1
48.4
48.6
46.9
41.1
51.6
24.7
21.3
19.5
20.2
20.5
26.4
26.6
25.5
22.1
28.0
2.3
2.7
3.0
3.4
4.3
4.8
5.2
6.5
8.0
8.8
226.1
253.7
270.4
286.1
288.2
308.8
330.9
349.3
359.3
382.1
20.6
28.9
34.0
35.5
32.5
35.4
39.7
42.4
42.1
46.0
205.5
224.8
236.4
250.7
255.7
273.4
291.3
306.9
317.1
336.1
194.7
210.0
220.4
233.7
240.1
258.5
271.6
286.4
295.4
317.3
10.8
14.8
16.0
17.0
15.6
14.9
19.7
20.6
21.7
18.8
5.3
6.6
6.8
6.8
6.1
5.4
6.8
6.7
6.8
5.6
361.9
371.6
382.1
397.5
402.1
425.9
444.9
453.9
459.0
477.4
1960
1961.
1962
1963
1964
1965
1966
1967
1968. -.
1969
412.0
424.2
457.4
482.8
519.2
566.0
622.2
655.8
714.4
767.9
294.9
303.6
325.1
342.9
368.0
396.5
439.3
471.9
519.8
571.4
271.9
279.5
298.0
313.4
336.1
362.0
398.4
427.5
469.5
514.6
23.0
24.1
27.1
29.5
31.8
34.5
40.9
44.4
50.3
56.8
11.4
11.8
11.9
11.6
10.3
12.6
13.6
12.1
12.0
13.9
35.6
36.4
37.7
38.7
42.0
44.1
46.7
48.9
51.4
52.3
13.8
14.3
15.0
15.7
16.1
17.1
18.2
19.4
18.6
18.1
46.6
46.9
54.9
59.6
67.0
77.1
82.5
79.3
85.8
81.4
.3
.1
.1
-.2
-.5
-1.9
-2.1
-1.7
-3.4
-5.5
-2.3
-1.8
1.2
2.1
2.8
3.8
3.9
3.7
3.7
3.5
48.5
48.6
53.6
57.7
64.7
75.2
80.7
77.3
85.6
83.4
25.8
25.8
29.6
31.5
36.7
44.3
47.1
44.9
46.2
43.8
9.8
11.2
12.8
14.3
15.9
18.5
21.9
24.3
26.8
30.8
399.7
415.0
440.7
463.1
495.7
537.0
584.9
626.6
685.2
745.8
50.4
52.1
56.8
60.3
58.6
64.9
74.5
82.1
97.1
115.4
349.4
362.9
383.9
402.8
437.0
472.2
510.4
544.5
588.1
630.4
332.3
342.7
363.5
384.0
410.9
441.9
477.4
503.7
550.1
595.3
17.1
20.2
20.4
18.8
26.1
30.3
33.0
40.9
38.1
35.1
4.9
5.6
5.3
4.7
6.0
6.4
6.5
7.5
6.5
5.6
487.3
500.6
521.6
539.2
577.3
612.4
643.6
669.8
695.2
712.3
609.2
546.5
650.3 580.0
715.1 633.8
701.2
799.2
764.1
875.8
931.1 805.9
1,037.8 890.0
1, 156. 9 984.0
1,304.5 1, 103. 5
1,459.1 1,227.3
62.7
70.3
81.4
98.0
111.7
125.2
147.8
172.9
201,0
231.8
13.9
14.3
18.0
32.0
25.4
23.5
18.3
19.6
27.7
32.1
51.2
53.4
58.1
60.4
60.9
63.5
71.0
80.5
89.1
98.0
18.6
20.1
21.5
21.6
21.4
22.4
22.1
24.7
25.9
26.9
67.9
77.2
92.1
99.1
83.6
95.9
126.8
150.0
167.7
178.5
-5.1
-5.0
-6.6
-18.6
-40.4
-12.4
-14.6
-15.2
-25.2
-41.9
1.5
.3
2.5
1.9
-2.9
-12.0
-14.5
-12.0
-13.1
-16.7
71.5
82.0
96.2
115.8
126.9
120.4
156.0
177.1
206.0
237.0
37.0
44.3
54.6
67.1
74.5
70.6
92.2
104.5
121.5
144.4
37.5
42.8
47.0
52.3
69.0
78.6
83.8
94.0
109.5
129.7
801.3
859.1
942.5
1,052.4
1, 154. 9
1, 255. 5
1, 381. 6
1, 531. 6
1, 717. 4
1,923.1
115.3
116.3
141.2
150,8
170.3
168.8
197.1
226.4
259.0
299.9
685.9
742.8
801.3
901.7
984.6
1, 086. 7
1,184.5
1,305.1
1,458.4
1, 623. 2
635.4
685.5
751.9
831.3
913.0
1,003.0
1, 115. 9
1,240.2
1, 386. 4
1, 550. 4
50.6
57.3
49.4
70.3
71.7
83.6
68.6
65.0
72.0
72.8
7.4
7.7
6.2
7.8
7.3
7.7
5.8
5.0
4.9
4.5
741.6
769.0
801.3
854.7
842.0
859.7
891.8
929.5
972.6
994.1
.
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979 v
798.4
858.1
951.9
1,064.6
1, 136. 0
1,215.0
1,359.8
1, 525. 8
1, 724. 3
1,924.2
1947: 1
II
III....
IV
190.5
191.7
194.1
201.7
125.9
127.8
129.2
133.7
119.6
121.4
123.4
127.8
6.3
6.3
5.8
5.9
16.8
13.5
14.9
15.6
20.7
20.4
20.4
21.0
5.4
5.1
5.1
5.4
19.5
22.8
22.6
23.9
-9.7
-4.7
-4.0
-5.2
-3.1
-3.0
-3.5
-3.7
32.3
30.5
30.1
32.9
20.7
19.6
19.3
21.1
2.2
2.1
2.1
2.0
186.5
184.7
192.3
195.7
20.8
21.0
21.4
22.4
165.8
163.7
170.9
173.2
157.6
161.5
165.2
169.4
8.1
2.2
5.7
3.9
4.9
1.3
3.3
2.2
321.7
314.6
321.7
317.5
1948: I
II
III____
IV....
210.5
218.1
222.8
224.6
137.2
139.0
144.0
145.5
131.4
133.2
138.0
139.5
5.8
5.9
5.9
6.0
15.7
18.8
18.5
17.1
22.2
23.0
23.7
23.8
5.5
5.6
5.8
5.9
27.7
29.5
28.9
30.4
-2.9
-2.9
-2.8
-.1
-3.8
-3.9
-4.0
-4.0
34.4
36.2
35.6
34.5
22.3
23.4
23.1
22.3
2.2
2.1
2.0
2.0
201.6
207.0
212.7
212.8
22.9
20.9
20.1
20.2
178.7
186.1
192.7
192.6
172.3
176.1
179.0
179.9
6.3
10.0
13.7
12.7
3.5
5.4
7.1
6.6
324.5
334.2
341.0
342.5
1949: I
II
III.___
IV
217.2
212.2
212.3
209.2
143.4
141.2
140.5
140.2
136.9
134.6
133.9
133.4
6.4
6.5
6.7
6.8
13.4
12.7
12.1
12.4
23.4
23.5
23.4
23.5
5.9
6.0
6.2
6.4
28.9
26.7
27.9
24.5
1.4
2.8
3.0
.2
-3.8
-3.8
-3.8
-3.9
31.3
27.6
28.7
28.2
20.3
17.9
18.6
18.2
2.1
2.2
2.2
2.2
207.0
205.5
204.6
205.6
19.6
18.8
18.1
17.6
187.5
186.8
186.5
188.0
178.7
180.4
179.9
182.5
8.7
6.3
6.6
5.5
4.7
3.4
3.6
2.9
335.9
335.9
336.0
337.3
1950: I
II
III__._
IV
217.8
228.0
243.5
255.4
144.2
150.2
158.5
166.4
136.9
142.6
150.5
158.0
7.3
7.5
8.0
8.5
12.8
12.7
13.6
14.7
23.7
24.3
25.9
25.6
6.8
6.9
7.2
7.4
28.0
31.6
36.0
39.0
-.7
-3.3
-7.3
-8.5
-3.7
-3.9
-4.0
-4.4
32.4
38.8
47.3
51.9
18.8
22.4
27.4
30.1
2.2
2.2
2.3
2.3
219.1
219.4
228.2
237.4
18.3
19.3
20.6
24.2
200.8
200.2
207.6
213.2
185.4
189.4
203.2
200.7
15.4
10.8
4.3
12.5
7.7
5.4
2.1
5.9
360.6
358.3
361. 3
367. 3
1951: I
II
III_._.
IV....
264.6
270.7
274.7
279.3
174.5
180.1
183.3
186.0
165.2
170.5
173.6
176.0
9.3
9.6
9.7
10.1
15.5
15.7
15.7
16.2
26.8
26.8
27.2
27.4
7.4
7.5
7.8
8.1
38.0
37.8
38.0
38.8
-8.7
-1.0
3.5
1.5
-4.5
-4.5
-4.7
-4.7
51.2
43.4
39.2
42.0
24.9
21.1
19.1
20.4
2.5
2.6
2.8
2.8
245.5
252.4
255.6
260.8
26.2
28.2
29.7
31.6
219.3
224.2
226.0
229.2
211.2
206.7
209.1
212.8
8.0
17.6
16.9
16.3
3.7
7.8
7.5
7.1
364.7
372.5
374.2
374.2
1952: I
II
III___.
IV
280.6
281.1
286.1
295.8
191.0
192.3
195.8
203.6
180.9
182.1
185.4
192.9
10.1
10.2
10.4
10.7
14.5
15.1
16.6
13.4
27.5
27.9
28.1
28.6
8.2
8.6
9.0
9.4
36.5
34.2
33.6
37.6
-4.6
-4.4
-4.4
-4.4
39.8
37.4
37.4
41.2
19.9
18.7
18.7
20.6
2.9
3.0
3.1
3.1
262.6
266.4
273.2
279.0
32.9
33.8
34.4
35.1
229.8
232.6
238.9
243.9
214.1
218.2
220.6
228.5
15.6
14.4
18.3
15.4
6.8
6.2
7.7
6.3
373.8
377.9
385.9
389.9
1953: I
II
III____
IV
300.6
302.8
301.5
294.0
207.4
210.7
210.8
209.3
196.5
199.6
199.8
198.2
10.9
11.1
11.0
11.1
13.4
12.9
12.5
13.0
28.7
28.5
28.2
28.0
9.5
9.8
10.2
10.6
38.4
37.7
36.5
29.4
1.3
1.2
.7
.8
-.4
-1.6
-2.0
0
-4.4
-4.2
-4.0
-3.7
43.3
43.4
42.4
33.1
21.6
21.7
21.2
16.5
3.2
3.3
3.3
3.7
35.7
35.6
35.4
35.3
247.3
251.5
251.9
252.1
232.1
233.9
234.7
234.2
15.3
17.6
17.3
18.0
6.2
7.0
6.9
7.1
394.1
399.7
398.3
398.6
1954: I
II
III_._.
IV....
294.9
295.4
299.0
307.2
207.3
206.9
207.5
211.8
195.9
195.5
195.9
199.9
11.4
11.5
11.6
11.9
13.3
11.8
12.4
11.7
27.8
28.3
28.5
29.3
10.6
10.9
11.2
11.4
31.9
33.3
34.9
38.3
0
0
-.7
-.5
-3.6
-3.3
-3.1
-2.8
35.5
36.5
38.7
41.7
19.1
19.7
20.8
22.4
3.9
4.2
4.4
4.6
283.0
287.0
287.3
287.4
286.1
285.3
287.8
293.4
32.5
32.3
32.3
32.8
253.5
253.0
255.5
260.6
236.0
238.5
240.8
245.1
17.5
14.5
14.7
15.5
6.9
5.7
5.7
5.9
398.4
396.4
402.9
410.7
1955: I
II
in__._
317.5
325.9
331.2
338.0
216.3
222.8
227.7
232.8
203.7
209.8
214.1
218.9
12.6
13.0
13.6
13.9
11.6
11.5
11.0
10.9
30.2
30.9
31.6
32.2
11.2
11.2
11.3
11.4
43.6
44.8
44.7
45.9
-1.1
-.9
-2.2
-2.8
-2.3
-2.0
—2.0
-2.1
47.0
47.7
48.9
50.8
25.6
26.0
26.7
27.7
4.7
4.8
4.8
4.8
298.2
305.5
312.7
318.2
33.9
34.8
35.9
37.0
264.4
270.7
276.8
281.2
251.3
256.6
261.0
265.1
13.1
14.1
15.8
16.1
4.9
5.2
5.7
5.7
413.7
422.6
429.6
436.6
IV
II
1956: III____
I
IV....
340.0
344.8
347.8
354.4
237.1
241.7
244.7
250.5
222.7
226.8
229.2
234.6
14.4
14.8
15.5
15.9
10.9
10.8
11.6
11.5
31.9
32.3
32.4
33.0
11.4
11.6
11.7
11.8
43.6
43.3
42.0
42.2
-2.9
-3.6
-1.2
-3.0
-2.2
-2.7
-3.4
-3.8
48.7
49.6
46.5
49.1
26.7
27.2
25.5
26.9
5.0
5.2
5.4
5.4
322. 6
328.2
332.7
340.0
38.2
39.4
40.0
41.0
284.4
288.8
292.7
299.0
266.9
269.4
272.5
277.6
17.6
19.4
20.2
21.4
6.2
6.7
6.9
7.1
439.7
443.1
445.4
451.0
1957: I
II
III....
IV....
360.3
362.1
365.8
360.4
254.2
256.0
258.6
257.0
237.5
238.9
241.1
239.4
16.7
17.0
17.5
17.7
10.6
10.8
11.4
11.4
33.7
34.0
34.2
33.8
11.9
12.1
12.4
12.5
43.9
43.0
42.4
38.8
-2.4
-1.5
-1.3
-.9
-3.6
-3.4
-3.3
-3.1
49.9
47.9
46.9
42.8
27.1
26.0
25.5
23.2
6.0
6.3
6.8
6.9
343.9
348.3
352.9
352.6
41.8
42.5
42.8
42.3
302.0
305.8
310.1
310.3
282.0
284.2
288.8
290.4
20.0
21.5
21.3
19.9
6.6
7.0
6.9
6.4
451.3
454.0
456.2
454.8
1958: I
II
III....
IV....
354.3
355.4
366.3
379.4
254.0
253.5
259.6
265.8
236.6
236.1
241.7
247.5
17.4
17.4
17.9
18.3
13.6
13.1
13.0
12.7
33.5
33.9
34.4
35.2
12.7
12.8
12.9
13.1
33.0
34.1
38.3
43.9
-.2
.3
-.2
-.9
-3.2
-3.5
-3.4
-3.4
36.4
37.3
42.0
48.2
19.6
20.1
22.6
26.0
7.5
7.8
8.2
8.6
352.3
353.9
362.7
368.2
41.8
41.3
42.5
43.0
310.5
312.6
320.1
325.2
290.0
292.8
297.6
301.5
20.5
19.9
22.6
23.8
6.6
6.4
7.0
7.3
450.4
453.2
463.0
469.5
1959: I
II
III....
IV.._.
389.5
402.1
396.6
400.1
273.1
280.2
280.9
284.1
253.1
259.6
260.0
263.0
20.0
20.6
20.9
21.1
11.6
10.9
10.0
10.1
35.9
36.8
36.8
36.7
12.8
13.1
13.4
13.6
47.4
52.3
46.8
46.5
-.9
-1.2
-.2
.5
-3.2
-2.8
-3.0
-2.7
51.5
56.2
50.0
48.7
28.1
30.4
27.1
26.3
8.7
8.7
8.8
9.1
373.9
382.2
383.5
388.7
44.3
45.6
46.5
47.6
329.6
336.7
337.1
341.1
309.7
315.5
320.9
323.1
19.9
21.1
16.2
18.0
6.0
6.3
4.8
5.3
472.6
480.0
476.8
480.7
v Preliminary.
NOTE.—IVA=Inventory valuation adjustment; CCAdj. == Capital consumption adjustment; D PI=Disposable personal income.
SUKVEY OF CURRENT BUSINESS
January 1980
43
Table D.—National Income and Disposition of Personal Income-—Continued
[Billions of dollars; quarterly data are seasonally adjusted at annual rates]
Proprietors'
income with
IVA and
CCAdj.
Compensation of
employees
Year and National
quarter
income
Total
SuppleWages
ments
and
to wages
salaries
and
salaries
Farm
Nonfarm
Corporate profit with IVA and
Rental
CCAdj.
income
of
persons
Profits Profits
with
CCAdj. Total IVA CCAdj. before
after
tax
tax
Net
interest
Less:
personal
Less: Equals: Saving D P I in
Equals' pertax
Personal
as
perconand
DPI
income
sonal
perstant
sonal
nontax
centoutlays sav(1972)
paytage
dollars
ing
ments
of D P I
1960: I
II
III....
IV....
412.9
413.0
412.5
409.6
292.5
295.4
296.2
295.6
269.8
272.5
273.0
272.4
22.7
22.9
23.1
23.2
10.2
11.7
11.9
12.0
36.2
35.9
35.2
35.0
13.6
13.7
13.8
14.0
51.0. - 0 . 4
46.9
.1
45.6
.9
42.9
.6
-2.4
-2.3
-2.2
-2.3
53.7
49.1
46.8
44.6
28.3
26.1
25.0
24.0
9.5
9.4
9.9
10.2
395.0
400.0
401.6
402.3
49.3
50.3
50.7
51.1
345.7
349.7
350.8
351.2
326.9
333.2
333.5
335.7
18.8
16.5
17.3
15.6
5.4
4.7
4.9
4.4
485.5
488.4
488.2
486.3
1961: I
II
III....
IV....
410.7
419.5
427.2
439.5
296.4
300.5
305.4
312.0
272.8
276.6
281.2
287.2
23.6
23.9
24.2
24.7
11.9
11.6
11.7
12.0
35.7
36.3
36.7
37.1
14.1
14.2
14.4
14.5
.3
.8
-.3
-.4
-
.9
.6
.8
.8
43.7
46.8
49.8
54.1
23.5
24.8
26.4
28.5
10.5
11.0
11.4
12.1
405.6
411.3
417.5
425.5
51.2
51.6
52.3
53.1
354.3
359.7
365.2
372.4
336.2
340.7
343.4
350.6
18.2
19.0
21.7
21.8
5.1
5.3
6.0
5.9
490.6
497.6
502.8
511.9
1962: I
II
III_-_
IV....
448.5
455.4
459.6
465.9
318.4
324.3
327.1
330.5
292.1
297.5
299.8
302.8
26.4
26.9
27.3
27.7
12.1
12.0
11.7
11.7
37.4
37.8
38.0
37.8
14.7
14.8
15.1
15.5
42.1
45.9
47.7
51.9
53.9
53.9
54.7
56.9
.1
.3
-.6
.8
.9
.1
.2
.3
52.8
52.5
54.1
54.8
29.0
29.0
29.8
30.6
12.1
12.6
13.0
13.4
431.8
439.0
443.5
448.6
54.3
56.3
57.7
59.1
377.5
382.8
385.8
389.5
355.4
361.2
365.4
372.0
22.1
21.6
20.4
17.5
5.9
5.6
5.3
4.5
516.4
521.1
523.7
526.1
1963: I
II
III....
IV.—
471.2
479.0
486.6
494.6
335.3
340.1
345.0
351. 1
306.5
310.9
315.4
320.7
28.8
29.2
29.7
30.4
11.8
11.8
11.6
11.3
38.1
38.3
38.9
39.6
15.6
15.7
15.7
15.7
56.6
59.1
60.8
62.0
1.0
-.5
-.3
-.8
1.5
2.2
2.1
2.4
54.1
57.4
58.9
60.4
29.7
31.2
32.1
32.9
13.8
14.0
14.5
15.0
454.2
459.0
465.6
473.6
59.7
60.1
60.5
60.9
394.5
398.9
405.0
412.7
376.1
380.4
387.4
392.0
18.4
18.5
17.6
20.7
4.7
4.6
4.3
5.0
530.6
535.5
541.1
549.1
1964: I-.
II
III....
IV.___
505.8
515.3
525.3
530.4
357.4
364.7
371.9
377.8
326.6
333.2
339.7
345.0
30.8
31.5
32.2
32.9
10.2
10.1
10.1
10.6
40.8
42.0
42.6
42.5
15.9
16.0
16.2
16.4
66.2
66.9
68.3
66.5
-.6
0
-.5
-1.2
2.8
2.8
3.0
2.8
64.0
64.1
65.8
64.9
36.3
36.3
37.3
36.9
15.3
15.6
16.2
16.5
482.2
491.4
500.5
508.5
59.7
56.2
58.3
60.2
422.5
435.1
442.2
448.3
400.5
408.1
416.5
418.5
22.0
27.0
25.7
29.9
5.2
6.2
5.8
6.7
559.7
575. 8
583.0
589.7
1965: I
II
III....
IV.__.
547.1
559.0
570.9
586.9
384.5
391.2
399.3
411.2
351.1
357.1
364.5
375.3
33.4
34.1
34.9
35.9
11.4
12.9
13.1
12.9
43.0
43.7
44.4
45.4
16.7
17.0
17.3
17.5
73.9
75.9
77.9
80.7
-1.3
-2.2
-1.5
-2.5
3.4
3.9
4.1
3.6
71.8
74.2
75.3
79.6
42.4
43.9
44.4
46.7
17.6
18.3
19.0
19.2
519.1
529.5
543.5
556.0
64.1
65.4
64.2
65.8
455.0
464.1
479.2
490.2
428.9
435.8
444.6
458.2
26.1
28.3
34.6
32.1
5.7
6.1
7.2
6.5
595.5
603.4
620.1
631.3
1966: I.. .
II
III....
IV. _ ...
606.3
617.7
627.7
637.1
423.4
434.5
445.5
453.8
383.9
394.0
404.1
411.5
39.5
40.5
41.3
42.3
15.2
13.7
13.2
12.2
46.2
46.5
46.8
47.3
17.8
18.1
18.3
18.5
83.1
83.4
81.6
82.0
-2.5
-2.4
-2.9
-.6
4.0
4.1
3.8
3.7
81.7
81.7
80.7
79.0
47.6
47.6
47.1
46.1
20.5
21.5
22. 3
23.2
567.9
578.3
590.8
602.5
69.3
73.6
76.1
79.0
498.6
504.7
514.8
523.5
468.2
472.8
481.8
486.8
30.4
31.9
33.0
36.7
6.1
6.3
6.4
7.0
636.2
639.0
646.4
652.6
1967: I . . .
II
III....
IV.,..
641.2
647.8
660.1
674.2
460.2
465.8
475.4
486.2
417.1
422.1
430.6
440.2
43.1
43.7
44.8
46.0
11.6
12.0
12.4
12.4
48.1
48.7
49.5
49.3
19.0
19.5
19.6
19.4
78.8
78.0
78.7
81.6
-.5
-1.2
-2.0
-3.2
3.7
3.8
3.8
3.4
75.6
75.4
77.0
81.4
43.5
43.6
44.9
47.4
23.4
23.9
24.5
25.3
612.2
619.7
631.8
642.8
80.2
79.9
83.2
85.1
532.0
539.8
548.6
557.7
491.6
501.1
507.5
514.5
40.4
38.7
41.1
43.3
7.6
7.2
7.5
7.8
661.6
667.5
672.5
677.7
690.3
1968: I
II
• 708.6
III_ —
723.4
IV....
735.4
500.3
513.2
527.0
538.7
452. 3
463.5
476.0
486.3
48.1
49.6
51.1
52.4
11.7
11.4
12.2
12.8
50.6
51.6
51.7
51.7
19.1
18.8
18.5
18.1
82.7
87.1
86.9
86.4
-5.1
-2.9
-2.0
-3.7
3.8
4.1
3.6
3.2
84.0
86.0
85.4
86.9
45.3
46.6
46.1
46.6
25.9
26.4
27.2
27.7
660.1
677.8
694.5
708.5
87 9
91.5
102.3
106.6
572.2
586.3
592.3
601.9
531.2
542.4
558.8
567.8
40.9
43.8
33.4
34.1
7.2
7.5
5.6
5.7
686.3
696.6
697.0
700.7
1969: I
II
III_.__
IV....
750.2
763.8
776.5
781.2
550.8
564.6
579.9
590.1
496.2
508.7
522.3
531.0
54.6
55.9
57.6
59.0
13.7
13.7
13.8
14.6
52.5
52.9
52.4
51.4
18.2
18.3
18.0
17.9
86.0
84.2
81.0
74.6
-5.2
-5.3
-3.8
-7.7
3.8
4.1
3.6
2.7
87.5
85.5
81.2
79.6
46.1
44.9
42.7
41.4
29.0
30.2
31.4
32.6
721.9
738.5
754.8
768.0
113.2
116.7
115.1
116.6
608.7
621.8
639.7
651.5
578.8
589.8
600.2
612.4
29.9
32.0
39.5
39.1
4.9
5.1
6.2
6.0
701.8
707.2
718.8
723.0
1970: I . . .
II
III____
IV
787.9
795.7
805.8
804.0
600.8
606.2
614.1
615.5
540.1
544.1
550.6
551.0
60.7
62.1
63.5
64.4
14.9
14.3
13.3
13.2
50.8
51.2
51.4
51.5
18.2
18.5
18.8
19.1
68.9
68.9
69.4
64.4
-5.9
-4.6
-£ 6
2.0
1.9
1.4
.6
72.7
71.7
73.2
68.3
38.1
37.1
37.7
35.1
34.4
36.7
38.8
40.3
779.2
800.8
809.2
815.9
116.3
117.6
113.0
114.5
663.0
683.2
696.2
701.4
622.7
631.7
641.8
645.3
40.3
51.5
54.4
56.1
6.1
7.5
7.8
8.0
727.4
742.6
750.1
745.6
1971: I
II
III____
IV
835.0
851.8
863.4
882.1
633.0
645.1
655.7
667.3
565.2
575.7
584.6
594.5
67.8
69.4
71.2
72.7
15.4
13.9
12.6
15.3
51.9
52.9
53.9
55.1
19.3
20.0
20.5
20.8
73.9
77.5
77.5
79.9
-4.3
-4.3
-5.9
-5.6
.6
.7
.3
-.5
77.6
81.2
83.2
85.9
40.4
43.1
45.5
48.1
41.6
42.5
43.2
43.9
835.5
854.7
864.7
881.4
111.7
114.5
116.6
122.3
723.8
740.2
748.1
759.1
665.5
680.0
691.4
704.9
58.2
60.2
56.7
54.2
8.0
8.1
7.6
7.1
761.4
769.9
769.9
775.9
1972: I
II
919.1
937.2
959.8
991.7
691.9
706.9
720.4
741.4
613.8
626.7
637.9
656.6
78.0
80.2
82.5
84.8
17.0
18.2
17.1
19.8
56.6
58.0
58.7
59.2
22.1
18.2
23.2
22.7
86.8
89.9
92.6
99.0
-5.1
-5.2
-6.5
-9.6
1.9
2.7
2.7
2.7
90.0
92.3
96.5
105.8
50.7
52.3
55.0
60.4
44.7
46.0
47.7
49.6
912.4
927.2
948.0
982.6
137.3
140.2
141.8
145.6
775. 0
787.0
806.2
837.0
724.0
743.3
758.8
781.5
51.0
43.7
47.3
55.4
6.6
5.6
5.9
6.6
783.7
790.7
803.7
827.1
IV
1, 030. 9
1, 051. 2
1973: II
III-I . _
. ._. ,073.6
IV
, 102. 7
771.2
790.0
807.2
828.4
677.3
693.7
708.0
725.9
93.9
96.4
99.2
102.5
26.1
30.8
33.9
37.3
60.0
59.9
60.8
61.0
22.1
21.2
21.5
21.5
101.1
98.1
97.8
99.3
-16.7
-21.5
-17.0
-19.1
2.4
2.0
1.8
1.4
115.3
117.7
113.0
117.1
66.5
67.9
65.4
68.5
50.4
51.2
52.5
55.3
1,011.8
1, 038. 2
1,064.3
1, 095. 5
145.1
147.3
152.9
157.8
866.6
890.9
911.4
937.7
807.2
821.7
839.8
856.6
59.4
69.1
71.7
81.1
6.8
7.8
7.9
8.7
845.1
852.7
858.2
862.1
1974: I
II
III....
IV
, 108. 5
, 128. 4
, 147. 1
, 159. 9
845.9
866.8
888.2
902.2
739.3
757.0
774.5
785.4
106.6
109.8
113.7
116.8
31.1
25.4
23.0
22.0
59.8
60.7
61.7
61.3
21.1
21.0
21.5
21.9
90.2
86.3
80.1
77.6
-30.4
-37.3
-54.4
-39.6
.2
-1.7
-3.6
-6.7
120.3
125.3
138.2
123.9
70.9
72.8
81.0
73.5
60.3
68.2
72.6
74.9
1, 110. 3
1, 140. 5
1, 174. 3
1, 194. 7
949.5
160.7
973.1
167.4
999.7
174.6
178.5 1,016.2
876.5
902.3
932.8
940.3
73.0
70.9
66.9
75.9
7.7
7.3
6.7
7.5
846.7
843.1
843.0
835.1
1975: I .
II
, 156. 5
,188.6
, 243. 2
, 271. 8
903.2
914.3
939.0
967.8
783.6
791.9
812.0
836.1
119.7
122.4
127.0
131.7
19.0
22.9
26.9
25.1
60.9
62.2
64.9
66.1
22.3
22.6
22.4
22.5
75.0
88.2
110.1
110.3
-16.6
-10.1
-10.6
-12.5
-9.0
-11.5
-13.3
-14.4
100.6
109.8
134.0
137.2
59.1
64.6
78.1
80.3
76.0
78.4
79.9
80.0
1, 204. 9
1, 237. 5
1, 274. 1
1, 305. 4
179.5
142.4
173.8
179.6
1, 025. 4 959.4
1, 095. 1 988.5
1, 100. 3 1,018.1
1, 125. 8 1, 046. 0
66.0
106.6
82.2
79.8
6.4
9.7
7.5
7.1
829.8
874.1
863.1
871.7
IV
II
1976: I I I . . . .
IV
, 323. 1
,344.9
, 369. 6
,401.6
1, 001. 4
1,025.9
1,048.0
1,075.9
860.7
880.5
898.0
920.7
140.6
145.4
150.1
155.2
20.9
19.6
16.5
16.3
68.0
70.2
71.0
74.8
22.0
21.6
21.9
22.8
130.1 - 9 . 3
125.6 -15.1
126.9 -15.3
124; 6 -18.5
-15.4
-15.3
-14.3
-12.7
155.0
156.2
156.7
156.1
91.0
91.6
92.9
93.2
80.6
82.1
85.2
87.2
1, 336. 9
1, 363. 7
1, 393. 9
1, 432. 0
184.8
193.5
200.8
209.4
, 152. 2
, 170. 2
, 193. 1
, 222. 6
1, 078. 4
1, 099. 3
1, 126. 8
1, 159. 2
73.8
70.9
66.3
63.4
6.4
6.1
5.6
5.2
883.1
887.7
893.4
903.3
1977: I
II
III____
IV
1,456.9
1, 505. 3
1,551.1
1, 589. 8
1, 110. 1 945.8
1, 141. 5 971.8
1, 170. 7 995.0
1, 205. 5 1, 023. 4
164.3
169.7
175.7
182.1
19.2
17.9
16.8
24.7
77.7
79.8
81.7
82.9
23.6
24.6
25.2
25.5
137.1 -18.6
148.9 -15.8
160.8 - 8 . 8
153.0 -16.9
-12.5
-11.3
-11.1
-12.9
168.4
176.2
180.9
183.0
99.2
103.7
107.2
107.9
89.3
92.7
95.8
98.2
1, 472. 5
1, 509. 0
1, 548. 5
1,596.4
222.4
223.0
225.3
235.2
, 250. 1
, 286. 0
, 323. 2
,361.2
1, 197. 6
1, 220. 2
1, 251. 3
1,291.7
52.5
65.9
71.9
69.5
4.2
5.1
5.4
5.1
908.0
921.5
936.3
951.8
1978: I
II
III_.__
IV....
1, 621. 0
1, 703. 9
1, 752. 5
1,820.0
1, 244. 0
1, 288. 2
1, 321. 1
1, 364. 8
1, 052. 0
,090.0
, 117. 4
, 154. 7
192.0
198.3
203.7
210.1
25.7
27.7
26.1
31.3
83.4
87.3
91.3
94.4
25.2
24.4
26.8
27.1
141.2
169.4
175.2
184.8
-23.8
-25.0
-22.9
-28.7
-12.3
-12.5
-13.7
-13.7
177.5
207.2
212.0
227.4
106.7
122.4
124.6
132.3
101.5
106.8
111.9
117.6
1, 634. 8
1, 689. 3
1, 742. 5
1,803.1
239.8
252.1
266.0
278.2
, 395. 0
, 437. 3
, 476. 5
, 524. 8
1, 320. 4
1, 366. 1
1, 405. 6
1, 453. 4
74.6
71.2
70.9
71.5
956.6
966.1
976.2
991.5
1979: I
1,869.0 1,411.2 , 189. 4
II
1, 897. 9 1, 439. 7 ,211.5
III_._. 1, 941. 9 1, 472. 8 , 238. 0
IVp...
1, 512. 8 , 270. 3
221.8
228.2
234.8
242.6
34.2
94.8
33.7
95.5
30.9
99.4
29.5 ' 102.0
27.3
26.8
26.6
27.0
178.9 -39.8
176.6 -36.6
180.8 -44.0
-46.9
-14.4
-14.7
-17.6
-20.1
233.3
227.9
242.3
142.0
139.3
148.3
122.6
125.6
131.5
138.9
1, 852. 6
1,892.5
1, 946. 6
2,000.5
280.4
290.7
306.6
321.7
, 572. 2
, 601. 7
, 640. 0
, 678. 8
1, 493. 0
1, 515. 8
1, 569. 7
1, 622. 9
79.2
85.9
70.3
55.9
5.3
5.0
4.8
4.7
5.0
5.4
4.3
3.3
m____
m____
» Preliminary.
c n
996.6
993.0
993.4
993.4
SURVEY OF CUREENT BUSINESS
44
(Continued from page 11)
political and military considerations,
and, accordingly, it is difficult to assess
the outlook for them. However, it
seems likely that an increase in military
spending will result in an increase in
Federal purchases during 1980, in
contrast to their flatness during 1979.
Change in business inventories.—Auto
inventories, as noted earlier, are excessive, and a further reduction in them is
in prospect. In contrast, inventories
other than motor vehicles in the aggregate appear to be in line with sales.
Needless to say, if—as seems quite
possible on the basis of this summary
of the outlook—total final sales decline
in the first half of 1980, inventories may
at first pile up before being brought
back into line with sales.
Prices.—It was noted that recent actions affecting energy prices have not
yet fully worked their way through the
several stages of pricing. Also, additional phases in the decontrol of crude
oil and natural gas prices will become
effective. Accordingly, further increases
in energy prices are likely to occur in
the shortrun. It is uncertain how the
windfall profits tax now being legislated
will affect the price of energy.
In 1974, a prominent consideration
in the assessment of OPEC's increase
in oil prices was that it would, at the
same time, reduce demand for U.S. output substantially, essentially due to a
redistribution of income that would reduce spending. Income that would
largely have been spent by U.S. persons
on U.S. consumer goods and services
would be diverted (1) to foreign oil
producers who, in the shortrun, would
spend only a small part of this income
on U.S. output, and (2) to U.S. oil
producers who, in the shortrun, would
spend only a small part of it on U.S.
structures, equipment, and inventories.
It is not clear to what extent this consideration will be applicable to the 1980
setting.
The U.S. Department of Agriculture
has forecast a slowing in retail food
prices from an increase of about 11%
percent in 1979 to 8 percent in 1980.
January 1980
According to the Department, the farm
value of food will increase only 3 percent, in contrast to 11% percent in 1979,
and marketing costs will continue to
increase more than 10 percent. Weather
conditions, obviously, could invalidate
the forecast. Moreover, the prospect of
reduced exports of grain to the Soviet
Union was not taken into account.
However, inasmuch as marketing costs
account for a large part of the retail
price of food, it is unlikely that retail
food prices will be affected substantially
by whatever happens to the price
of grain as a result of its changed
disposition.
As noted earlier, the 1980 pay standard is compatible with some acceleration in hourly compensation, and hence
more cost pressures on prices. However,
if a recession should occur, two additional factors need to be taken into
account: On the one hand, a reduction
in demand will tend to reduce prices;
on the other, a reduction in productivity will increase unit costs and tend to
raise prices.
Detailed Tables for the 1972 Input-Output Study
THE 496-order industry/commodity tables for the 1972 input-output study
are now available from the U.S. Government Printing Office. The tables
appear in two volumes, each with the major title, "The Detailed Input-Output Structure of the U.S. Economy: 1972."
Volume I—The Use and Make of Commodities by Industries, 1972
Part I—Table 1.—The Use of Commodities by Industries, 1972
Part II—Table 2.—The Make of Commodities by Industries, 1972
A. Industries Producing Each Commodity
B. Commodities Produced by Each Industry
Volume II—Total Requirements for Commodities and Industries, 1972
Part I—Table 4.—Commodity-by-Commodity Total Requirements,
1972
Part II—Table 5.—Industry-by-Commodity Total Requirements, 1972
The two volumes may be purchased from the U.S. Government Printing
Office, Washington, D.C. 20402 at the cost of $8.50 for Volume I and $7.50
for Volume II. Checks should be made payable to the Supertintendent of
Documents. The stock numbers are 003-010-00064-3 for Volume I and
003-010-00065-1 for Volume II.
U. S. GOVERNMENT PRINTING OFFICE : 1980 0 - 307-688
CURRENT BUSINESS STATISTICS
THE STATISTICS here update series published in the 1977 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY OF CURRENT
BUSINESS. That volume (available from the Superintendent of Documents for $6.25) provides a description of each series, references to sources of earlier figures,
and historical data as follows: For all series, monthly or quarterly, 1973 through 1976 (1966-76 for major quarterly series), annually, 1947-76; for selected
series, monthly or quarterly, 1947-76 (where available).
The sources of the data are given in the 1977 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and are also listed
alphabetically on pages 181-182. 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.
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1976
1977
1978
Annual total
1977
I
II
1978
III
IV
I
II
1979
III
IV
I
II
1980
III
IV
I
4468
20 11
9.85
10.26
2457
138
101
0 73
078
829
688
1.40
5 10
728
'5058
2322
11.34
11.89
2736
1 48
106
0 99
089
938
790
1.47
142 43
1871
9.32
9.39
2372
1 17
085
1 03
081
733
6 31
1.02
2
2
t
GENERAL BUSINESS INDICATORS—Quarterly Series
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
bil $
Manufacturing
do. .
Durable goods industries
fl
do....
Nondurable goods industries
fl
do....
Nonmanufacturing
do. .
Mining
.
do
Railroad
do .
Air transportation
do
Other transportation....
do
Public utilities
do
Electric
.
do
Gas and other
do....
Communication . . .
do
Commercial and other
do
Seas. adj. quarterly totals at annual rates:
All industries
do
Manufacturing
do
Durable goods industries
fl
do....
Nondurable goods industries
fl
do
Nonmanufacturing
do
Mining
do....
Railroad
.
.
do
Air transportation
do
Other transportation
do
Public utilities
do
Electric
do
Gas and other
do
Communication
do
Commercial and other
do....
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
US
mil $
Other services
do....
Unilateral transfers (excl. military grants), net
mil. $..
U.S. Government grants (excl. military)
do....
Other
do
U.S. assets abroad net
do
U.S. official reserve assets, net
do....
U.S. Gov't assets, other than official reserve
assets net
mil $
U.S. private assets, net
do....
Direct Investments abroad
do....
Foreign assets in the U.S., net
do....
Foreign official assets, net
do....
Other foreign assets, net
do
Direct investments in the U.S
do....
Allocation of special drawing rights
do....
Statistical discrepancy
do....
Memoranda:
Balance on merchandise trade
do....
Balance on goods and services
do....
Balance on goods, services, and remittances .... do....
Balance on current account
do....
See footnotes at end of tables.
12049
52.48
23.68
28.81
68.01
400
2.52
130
363
22.28
1880
3.47
1330
2099
171,761
114,745
13580
60.16
27.77
32.39
75.64
450
280
162
251
2580
2159
r
4.21
1545
2297
184,592
120,816
15382
67.62
31.66
35.96
86 19
478
332
230
243
2948
2479
4.70
18 16
2571
221,017
142,052
2920
1252
5.80
6.72
1668
1 02
059
033
061
555
478
0.77
330
527
33 73
1484
6.79
8.06
1888
1 16
067
0 43
076
637
534
1.03
3 86
564
34 82
1560
7.17
8.43
1921
1 17
078
039
050
661
5 41
1.20
4 03
573
3806
17 19
8.00
9.18
2087
1 15
076
046
063
728
6 06
1.21
4 26
633
32 35
1367
6.36
7.31
1868
107
071
0 52
051
6 15
5 27
0.88
397
576
37 89
1676
7.79
8.97
21 13
122
083
060
060
7 14
601
1.13
4 56
6 18
3867
1689
7.97
8.92
2178
1 24
084
0 54
062
743
6 11
1.32
4 68
643
44 91
2030
9.53
10.77
2461
1 26
094
0 64
071
878
7 40
1.37
4 96
734
3741
1588
7.53
8.35
2153
131
085
0 65
057
7 16
630
0.86
4 36
664
130 16
5643
2630
30 13
7374
424
271
162
2 96
25 35
21 19
4 16
14 19
2267
134 24
5946
2726
32 19
74 78
449
257
1 43
2 96
25 29
21 14
4 16
1532
2273
14038
6302
2923
3379
7736
474
3 20
169
1 96
26 22
2190
4 32
1640
23 14
138 11
61 41
28 19
3322
7670
450
2 80
1 76
2 32
150 76
6720
3140
3580
83 56
481
309
208
2 23
155 41
6775
3225
3550
8766
499
3 38
220
247
16396
7324
3399
39 26
90 71
498
349
239
255
16594
7156
3400
37 56
26 23
2205
4 18
15 82
2327
144 25
6157
2872
3286
8268
445
3 35
267
2 44
27 92
23 15
4 78
1707
2476
28 46
23 83
4 62
18 18
2471
2962
2492
4 70
18 90
2609
44850
29,518
46914
31,075
46897
30558
45935
29665
48986
30,712
54354
35396
56263
36532
C
43 69
1908
9.17
9.92
2461
1 36
097
0 96
073
836
7 10
1.26
5 10
7 12
1357
1253
31 73
26 95
478
1846
27 12
9438
546
4 02
335
2 71
32 35
2770
4 66
18 75
2773
173 48
7642
3686
39 56
97 06
531
3 66
326
2 79
33 24
28 06
5 18
2029
2851
179 33 1 184 32 1189 32
8304
8502
80 22
3972
4016
4232
40 50
4288
42 70
99 12 101 28 104 29
542
495
591
4 03
4 00
392
3 10
374
509
3 16
3 75
3 22
33 07
3333
32 76
2853
28 32
27 72
5 01
5 35
5 24
20 41 2
2966
5065 25352
61 414
39412
64893
41348
67758
42,792
74408
47,337
5574
7441
7744
1854
2 120
1 851
1877
1 990
2 036
1 715
1 860
1 924
1 709
1 806
32,587
29,286
43,465
7,775
8,080
8,420
9,776 10,256 10,526 12,907 14,115 15,404 17,506
8,312
22 156
23750
5703
7 850
5908
7 085
7 394
7 756
6042
6574
6 712
7 386
6098
27758
-162,159 -194,015 -229,409 -47,170 -48087 -48556 -50 207 -54 711 -56 493 -58 194 -60015 -63 156 -67,451 -72 272
-124,051 -151,689 -175 822 -37 185 -37 639 -37 996 38869 -42629 -43329 -44481 -45383 -47463 -50 508 54619
-4900
-5762
7252
1345
1 444
1470
1 680
1753
1873
1948
2002
2023
2099
1 503
7 939 -8 712
7 251
3 686 -4 201 -4 537
21 820
13 311 14 598
3 519
3 192
5 402
5 574 -6 308
-19,896 -21^967 -24,517 -5,448 -5,485 -5,404 -5,634 -5,866 -6,009 -6^266 -6,376 -6,440 -6,981 -6,842
-4,998
-3,146
1 851
-51 269
-2,558
-5,086
-4,670
-2,775
-3,152
1 895
1 934
35793 -60957
-375
732
-1,116
-626
-490
1683
-420
-1,283
-811
-472
12272
-24
-1,249
-774
-475
-6625
112
-1,228
-765
-463
15 188
187
-1,313
-827
-486
5 466
'248
-1,233
-770
-463
10049
115
1 001
746
1 009
-5,736 -14,424 -14,366
-3,090 -3,570 -4,856
14236 19991 18 175
8,266 15179 15618
5970
4812
2557
1,023
1,130
761
1 263
-4,451
-4,386
941
-5265
6206
1,877
994
1 390
-8,774 -29,442
-2,782 -4,646
15358 29239
4641 18764
10717 10475
2,280
1,008
-4 214
-44,498
-11,949
36,399
17,573
18,826
4,347
3693
-31,725
-12,898
50823
36,656
14 167
3,728
_4 656
-57,033
-16,670
63713
33758
29956
6,294
10,265
-937
10,722
2,523
726
-4,703
-9,306
9,603
7,752
4,605
-30,873
-9,423
-11,317
-14,092
-33,770
-8,392
-10,326
-13,478
-7,667
-2320
-2,810
-3,436
-6,564
1 173
-1,645
-2,456
-7,438
1659
-2,134
-2,908
1 062
-885
-201 -11,363
-2,365 -3,873
2596 14002
5,491
7720
-2895
6282
965
980
-1,023
-564
-459
15 213
-43
517
-1,314
-790
524
30 254
182
3,965
7976
-2,145
930
-9,204 -11,917
-4272
5725
-4,731 -6,188
-5,295 -6,953
-7,933
2 139
-2,625
-3,452
-7,949
1931
-2,394
-3,164
-5,971
1399
875
85
-1,322
-805
517
7 637
3585
-1,363
-897
-466
16 165
343
-1,374
-870
504
23 325
2*779
1 094
1 000
756
-2,958 -15,507 -25,348
-5,755 -7,280 -7,281
1476
6057 23059
-9391 -10 043
5 562
10868 16 100 17 497
989
2,317
2,025
1 139
4606 11 163
495
-6,115
1 737
1,220
415
-7,716
307
-159
-1,056
-7,282
2 136
1,632
762
S-l
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
1978
Nov.
Annual
January 1980
1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME BY SOURCE t
Seasonally adjusted, at annual rates: t
Total personal income
bil. $..
Wage and salary disbursements, total
do....
Commodity-producing industries, total.... do....
Manufacturing
do....
Distributive industries
do
Service industries
do
Govt. and govt. enterprises
do....
Other labor income
do....
Proprietors' income: $
Farm
do....
Nonfarm
. do
Rental income of persons with capital
consumption adjustment
bil. $..
Dividends
do
Personal interest income
do....
Transfer payments
do
Less: Personal contrib. for social insur
do....
Total nonfarm income
do
DISPOSITION OF PERSONAL INCOME *
Seasonally adjusted, at annual rates:
Total personal income
bil. $..
Less: Personal tax and nontax payments
do....
Equals: Disposable personal income
do....
Less: Personal outlays
do....
Personal consumption expenditures
do....
Durable goods
do....
Nondurable goods
do .
Services
do....
Interest paid by consumers to
business
do....
Personal transfer payments to
foreigners (net)
do....
Equals' personal saving
do....
Personal saving as percentage of disposable
personal income §
percentDisposable personal income in constant (1972)
dollars
bil $
Personal consumption expenditures in
constant (1972) dollars
do....
Durable goods
do
Nondurable goods
do....
Services
do
Implicit price deflator for personal consumption
expenditures
index 1972—100
INDUSTRIAL PRODUCTION H
Federal Reserve Board Index of Quantity Output
Not Seasonally Adjusted
Total index
1967-100
By market groupings:
Products, total
do....
Final products
do
Consumer goods
do....
Durable consumer goods
do....
Nondurable consumer goods
do....
Equipment
do....
Intermediate products
.
do
Materials
do
By industry groupings:
Mining and utilities
do
Manufacturing
.. .
do .
Nondurable manufactures
do
Durable manufactures
do....
Seasonally Adjusted
Total index
do....
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....
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....
Equipment
do....
Business equipment
do....
Industrial equipment #
do....
Building and mining equip
do....
Manufacturing equipment
do....
Commercial, transit, farm eq. #
do....
Commercial equipment
do....
Transit equipment
do....
Defense and space equipment
do....
See footnotes at end of tables.
1,531.6
984.0
343.1
266.0
2391
2005
201.3
91.8
19.6
805
1,717.4 1,801.4 1,826.8
1,103.3 1,154.4 1,166.8
387.4
408.8
414.7
298.3
312.9
317.6
2694
2812
2853
2396
2287
2409
217.8
224.8
226.0
106.5
111.9
113.2
27.7
891
30.0
94.3
36.5
95.0
1,834.3 1,851.4 1,872.1 1,880.7 1,891.6 1,905.1 1,933.2 1,946.5 1,960.1 1,979.2 '2,000.0 2,022.5
1,177.1 1,188.5 1,202.3 1,205.9 1,210.8 1,220.5 1,229.8 1,236.5 1,247.9 1,257.4 1,270.3 1,282.5
422.9
434.5
437.5
416.7
429.4
428.6
432.1
436.6
440.8 '443.8
'446.8
453.0
324.9
329.7
332.0
321.4
328.1
327.4
328.3
330.3
333.5 r336.0 '337.8
342.0
300.8
2909
294.0
293.3
2988
304.3
307.1
3087 '3131
295.3
2884
3148
r
2547
2470
2499
251.9
258.1
260.9
264.8
2659 '270 1
251.9
2445
2738
227.7
232.6
233.5
229.0
232.1
231.6
234.8
235.2
239.1 '240.3
227.4
240.9
116.0
117.4
118.9
120.3
121.8
123.3
128.0
114.5
124.9
126.4
129.6
131.2
33.0
948
34.2
94.8
35.3
94.9
34.3
95.2
33.5
95.5
33.4
95.8
32.8
97.9
31.0
99.5
28.8
100.9
r
29.0
101 1
'29.5
102.0
29.9
1029
27.1
27.2
27.3
27.3
25.0
26.8
27.0
27.2
52.6
52.5
52.7
525
53.0
536
54.2
552
187.5
189.4
191.8
194.4
197.1 '200.7 '204.4
207.8
2447
258.5
2612
2627 '2648
2439
2658
2693
79.7
80.2
80.8
81.0
81.7
'82.2
'83.0
83.7
18403 18537 18823 18973 19131 19318 1 951 8 19737
24.7
421
141.7
2084
61.3
1498 1
25.9
27.1
27.1
472
49.6
504
163.3
174.3
176.4
2315
224 1
2337
69.6
71.8
72.3
16742 17549 17736
27.3
27.4
26.0
27.2
51.7
51 1
51.7
51.9
181.0
183.3
185.8
178.7
2367
2392
2423
2360
78.7
79.4
79.5
78.1
1 7843 18001 18195 18288
1,531.6
226.4
1,305.1
1,240.2
1,210.0
178.8
4813
549.8
1,717.4
259.0
1,458.4
1,386.4
1,350.8
200.3
530.6
619.8
1,801.4
278.2
1,523.2
1,453.9
1,415.9
212.8
558.6
644.5
1,826.8
282.3
1,544.5
1,470.7
1,432.1
215.0
567.3
649.8
1,834.3
276.8
1,557.5
1,473.1
1,434.5
211.5
5628
660.3
1 851.4
280.3
1,571.1
1,492.6
1,454.0
211.8
571.7
670.5
1,872.1
284.1
1,588.1
1,513.2
1,474.2
218.2
578.8
677.1
1,880.7
285.9
1,594.8
1,508.4
1,468.9
211.3
578.1
679.4
1,891.6
290.1
1,601.5
1,520.0
1,480.0
212.9
581.7
685.4
1,905.1
296.2
1,609.0
1,519.1
1,479.0
201.9
583.8
693.3
1,933.2
301.6
1,631.6
1,543.3
1,502.7
207.4
591.8
703.4
1,946.5
306.0
1,640.4
1,569.0
1,527.9
213.6
602.3
712.0
1,960.1
312.2
1,647.9
1,596.9
1,555.2
219.0
619.8
716.3
1,979.2
'316.1
1,663.1
1,601.2
1,559.1
'213.5
'618.2
'727.5
'2,000.0
'321.6
1,678.4
1,617.5
1,575.0
'213.5
'628.8
'732.7
2,022.5
327.5
1,695.0
1,650.1
1,607.2
219.5
6460
741.7
29.3
34.8
37.1
37.6
37.6
37.6
37.9
38.5
39.1
39.4
39.8
40.2
40.8
41.1
41.6
42.0
0.9
65.0
0.8
72.0
0.9
69.2
1.0
73.8
1.1
84.4
1.1
78.5
1.1
74.8
1.0
86.4
0.9
81.5
0.8
89.8
0.8
88.3
0.9
71.5
1.0
51.0
1.0
'61.9
0.9
'60.9
0.9
44.9
5.0
4.9
4.7
4.9
5.1
5.0
5.0
5.1
5.4
5.4
5.1
4.3
3.7
'3.5
3.3
9295
9725
991 1
9989
9959
9952
9986
9957
9932
9902
9942
9896
'991 1
994 1
861.7
1382
332.7
3908
900.8
1467
343.3
4108
921.3
1525
352.5
4164
926.2
1535
355.7
4171
917.3
1496
347.4
4203
921.0
148.8
348.1
4240
927.0
152.2
348.7
4262
917.1
1467
344.8
4256
917.8
1474
344.8
4256
910.2
1404
342.7
4271
917.9
143.5
344.7
429.6
926.0
147.1
348.5
r
4304
933.9
150.0
354.3
4296
'929.2
'146.2
350.6
'4323
932.9
144.9
355.2
432.8
1404
1500
1537
1546
1564
1579
1590
1602
1613
1625
1637
1650
1665
1678
1688
1382
146 1
1505
147 1
1466
1523
1540
151.1
152.5
156.5
148.7
152.3
156.8
155.8
"151.9
1475
143.9
1414
140.4
138.2
141.3
142.8
e
!530
e
!53 2
137.9
1359
145.3
154.0
141.9
123.0
145 1
1386
144.8
1422
149.1
159.2
145.1
132.8
154 1
1483
148.0
1452
150.3
164.3
144.8
138.2
158 1
1545
142.9
1400
142.3
150.5
139.0
136.8
1535
1535
143.3
1413
144.8
155.0
140.7
136.6
1508
151 6
149.4
147.1
151.7
166.5
145.8
140.8
1578
1569
150.8
1487
153.4
169.5
147.0
142.2
1588
1588
147.5
1443
148.3
157.2
144.8
138.8
1593
1568
149.3
146.3
150.2
164.7
144.5
141.0
1601
1576
154.4
151.7
156.7
166.0
153.0
144.7
1643
159 9
146.8
143.5
145.9
141.8
147.5
140.3
1588
151 6
150.8
147.0
151.4
138.0
156.7
140.9
1653
154 4
157.0
r
!54.5
159.4
r
!57.9
'159.9
r
!47.8
1663
1566
154.4
151.6
156.0
162.0
153.6
145.6
'1648
'1578
P
149.5
P
1466
P
148.2
P
150.7
P
147.2
P
144.5
P
1600
P
1363
1384
1505
130.0
1417
146.8
1569
139.7
1409
151.9
1608
145.6
145 1
1473
1538
142.8
1490
146.2
1523
142.0
1482
152.9
1597
148.2
1426
155.6
1628
150.6
1395
152.7
1619
146.3
1375
154.6
162.5
149.1
1415
158.6
1679
152.2
1448
149.2
1596
142.1
1490
152.8
1688
141.7
146 1
158.2
1719
148.9
1423
1575
1700
'148.8
P
1428
1530
"1647
p
144.9
1473
e
!477
157
1
e
!41.3
138.2
146.1
150.6
151.8
151.5
152.0
153.0
150.8
152.4
152.6
152.8
151.6
152.4
152.2
P
152.2
149.5
'1468
149.6
152.4
1595
142.4
1290
'203.1
148.4
126.5
1692
148.4
127.7
154.2
146.5
163.1
143.0
171.7
151.0
'200.6
130.3
195.6
'233.7
154.8
'94.7
P
149.4
"146.6
P
148.9
"149.3
P
1516
"131.1
P
1183
P
203.5
P
148.1
P
126.5
P
1698
P
148.8
149.9
C
1473
149.1
147.7
1460
123.1
e
l!02
e
203.9
148.6
126.9
p
154.4
P
146.4
P
155.3
137.9
1359
145.3
154.0
1756
169.3
1484
191.8
1419
127.8
1553
141.9
1318
144.7
136.5
154.1
123.0
147.8
135.0
188.9
113.4
162.5
197.8
113.5
81.3
144.8
142.2
149.1
159.2
1799
172.5
1486
198.5
1477
133.3
1642
145.1
131.1
148.9
140.6
158.5
132.8
160.3
145.8
207.3
121.2
177.2
212.0
133.8
86.5
148.0
1453
151.3
162.9
1902
185.0
1597
203.2
1476
129.1
1642
146.7
132.4
150.6
141.7
161.0
137.1
165.0
147.6
207.8
123.3
185.0
217.8
145.7
90.3
149.0
1461
151.5
161.8
1869
179.2
1519
206.5
1477
129.8
1643
147.3
132.2
151.5
143.2
161.2
138.6
166.8
148.4
206.3
124.5
188.0
218.7
151.0
91.4
149.2
1461
150.6
160.4
1814
173.2
1458
202.2
1486
124.0
1707
146.7
130 1
151.3
141.8
162.4
139.9
168.1
151.4
208.8
127.4
187.4
220.8
146.8
92.4
149.9
146.8
151.5
161.1
1793
170.3
1449
202.2
150.9
129.8
1718
147.7
130.7
152.4
142.4
164.0
140.4
169.0
152.5
207.9
129.1
188.1
221.2
146.6
92.4
150.8
148.2
152.9
163.6
186.8
178.8
1538
207.2
150.6
128.4
1735
148.6
130.9
153.6
145.1
163.4
141.7
170.8
152.8
205.2
130.3
191.6
224.4
150.5
92.9
148.4
145.4
149.1
151.6
163.0
147.4
1286
202.7
145.2
115.6
1707
148.0
127.7
153.7
145.2
163.5
140.4
168.7
150.4
204.2
128.0
189.9
223.0
148.8
92.9
150.3
147.8
152.0
160.5
182.7
176.3
153 1
199.0
148.1
128.4
1702
148.7
128.6
154.2
145.7
164.1
141.9
171.4
151.8
203.7
130.1
193.9
224.9
156.7
92.5
150.2
1476
151.8
158.6
1759
167.4
1480
197.5
148.8
129.3
1706
149.1
130.7
154.2
146.2
163.5
141.9
171.5
152.0
205.3
130.1
194.0
226.4
155.3
92.3
149.7
147.1
150.8
157.2
170.3
155.6
141.8
207.8
149.8
129.7
171.9
148.2
126.9
154.1
147.0
162.4
142.1
171.4
151.3
207.4
130.3
194.6
227.0
155.2
92.8
148.7
145.6
148.2
147.5
147.3
125.1
118.5
203.7
147.7
121.2
171.7
148.5
128.0
154.2
145.3
164.6
141.8
171.5
151.7
210.6
131.1
194.4
230.5
149.4
92.0
149.9
147.2
149.7
151.8
157.6
139.7
128.0
'203.0
148.5
129.6
1697
148.9
129.0
154.3
146.5
163.5
143.9
173.6
153.5
212.0
130.4
196.8
'231.4
156.3
r
94.0
155 7
P
151.8
149.7
163.7 ""e!64"6
P
143.5 144.8
P
172.1 173.8
P
152.5 154.5
C
"204.2
210.0
P
131.3 132.1
P
194.7 196.0
P
233.4 eC235.0
P
151.9
150.8
P
e
95.5
96.2
S-3
SURVEY OF CURRENT BUSINESS
January 1980
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
Annual
1978
Nov.
1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION U—Continued
Seasonally Adjusted— Continued
By market groupings—Continued
Intermediate products
Construction supplies ..
Business supplies
Materials
Durable goods materials #
Durable consumer parts
Equipment parts
Nondurable goods materials #
Textile, paper, and chemical
Energy materials
By industry groupings:
Mining and utilities
Mining
Metal mining
Coal
Oil and gas extraction #
Crude oil
Natural gas
.
Stone and earth minerals
Utilities
Electric
1967—100..
. .
do
do....
145.1
1406
149.5
154.1
1517
1565
1578
156 1
1596
159.9
1583
161.5
160.8
159 1
1625
161.4
1593
163.6
160.4
157 1
163.8
159.7
1560
163.2
159.5
1564
1625
159.5
1563
162.6
159.4
1564
162.4
1606
1573
1638
1598
1563
1632
1596
1565
1627
P
159.6
P
1563
p
e
!595
e
P
do
do....
do....
do.
do....
do....
do
1386
136.1
133.3
1473
155.6
160.8
1235
1483
149.0
140.8
1665
1656
171.8
125 3
1545
157.0
147.2
1767
1702
177.1
1293
1562
159.5
148.6
1792
1719
178.9
1288
155 0
158.1
148.5
1822
1710
177.5
127 8
155 2
158.0
146.0
184 4
1724
179.6
127 1
1563
159.2
145.8
1868
173 1
180.1
128 7
1545
155.7
136.9
1870
1730
180.7
1284
155 7
157.9
142.5
1880
1738
181.5
127 7
156 5
159.5
141.8
1910
1734
181.7
128 3
1576
160.7
138.5
1921
1746
182.8
129 1
1560
157.7
129.7
1907
1758
184.3
127 7
156 3
157.6
132.2
1920
1767
185.9
128 1
1564
157.4
132.0
1927
1772
186.1
128 6
155 6
"155.5
"126.7
P
194 2
"1772
P
186.2
P
1290
e
!55
e
do
do
do...
do
do....
do....
do
do....
1363
1182
1055
1219
118.0
92.3
1109
124.9
141 7
1240
1210
114 7
124.6
969
1086
131.2
144 8
1280
1243
144 6
124.8
968
1070
133.8
1450
1274
1238
144 7
123.8
964
107 1
134.8
1439
123 8
1242
115 9
123.0
947
109 8
135.9
1430
120 9
1253
104 5
120.4
942
110 8
135.7
1435
1223
1269
124 0
119.3
953
108 3
135.6
1438
122 7
1289
130 1
118.6
953
1084
135.3
1434
1228
1231
133 4
118.6
939
1089
137.8
1430
123 9
1232
1375
119.6
948
108 3
137.3
1437
124 7
1286
137 1
120.4
950
105 7
136.4
1449
126 4
1265
144 1
121.6
933
108 2
138.3
144 5
1258
122 1
1426
121.6
922
108 9
137.5
1453
1278
1240
144 7
123.8
r
949
P
1459
P
129 2
P
127 1
P
141 9
P
125.7
P
'1468
*1308
138.2
P
139.3
do..
do
156.5
1768
1614
182 2
1637
185 2
1647
186 7
1662
188 4
1677
189 9
167 1
1888
1674
1890
166 5
186 4
1642
182 4
1648
182 2
1655
1836
1653
184 1
1648
1836
P
1646
Manufacturing
Nondurable manufactures
Foods
do
do....
do
1384
150.5
1388
146 8
156.9
142 7
151 6
160.4
143 7
152 9
16L7
144 7
1525
160.7
143 9
153 3
162.0
145 5
154 5
163.0
147 6
151 6
161.7
1470
1538
162.8
149 2
1539
163.0
149 5
154 1
164.1
1494
1524
164.3
148 1
1535
164.6
1488
1532
163.9
I486
Tobacco products
Textile mill products
Apparel products
Paper and products
do
do
do....
do
1128
1344
134.2
1375
1183
1375
1342
1448
118 8
140 4
1358
1467
119 1
141 7
1365
148 5
1206
141 6
1303
144 6
116 2
1399
1335
146 6
123 3
142 3
1365
1490
1200
141 2
1308
148 7
120 2
141 5
1282
147 9
118 3
1446
1320
1480
1189
1430
1297
1540
107 5
144 1
130 1
153 9
116 4
1469
1312
1553
115 6
146 1
1285
154 1
Printing and publishing .
Chemicals and products
Petroleum products
Rubber and plastics products
Leather and products
do
do...
do
do....
do
1276
1857
1426
232.3
736
1315
1974
145 2
253.6
73 3
1337
2046
150 2
263.0
73 4
134 4
2072
151 3
263.3
73 8
1356
206 5
147 0
267.4
74 8
138 2
2086
1460
267.5
734
137 3
2074
1438
270.4
72 9
135 7
2077
1454
265.5
69 6
1368
209 7
1424
270.0
723
1369
2078
1439
270.0
70 1
137 7
213 1
1430
275.7
69 7
137 1
r
2120
143 1
272.9
708
do
do....
do
1300
73.5
131 2
139 7
73.7
136 3
145 5
74.2
140 1
1468
74.6
144 0
146 8
74.9
137 3
147 2
75.8
137 2
148 6
75.4
137 7
144 6
75.1
137 2
147 6
75.3
136 1
147 6
75.1
136 8
135 6
2105
1439
278.0
69 7
147 2
74.6
135 2
144 2
74.9
138 0
Furniture and fixtures
Clay, glass, and stone products
Primary metals
Iron and steel
Nonferrous metals
Fabricated metal products
Nonelectrical machinery
Electrical machinery
do....
do....
do....
do
do
do
do....
do....
145.0
145.8
111.1
1038
124 1
1310
143.6
145.4
1558
157.2
1199
1132
131 9
141 6
153.6
159.4
1586
162.1
1308
124 4
141 3
1456
157.8
165.2
1576
164.0
1321
1253
144 8
147 1
158.1
167.7
1617
167.4
1234
1133
1409
149 1
161.2
170.9
163 1
166.9
1204
1108
1388
1508
162.9
173.2
1635
1649
1237
116 2
137 7
1502
164.0
174.2
1594
161.2
1217
115 8
131 4
1488
161.8
170.6
1596
1627
1243
118 1
135 6
1493
164.5
175.1
1595
1633
127 1
1190
1462
1493
165.3
174.4
Transportation equipment
Motor vehicles and parts
Instruments
do
do .
do
1222
161 1
1562
1325
1699
167 1
142 1
1819
171 3
1429
182 1
173 1
141 2
1779
175 2
139 9
173 1
176 0
1437
1797
177 3
131 6
1560
176 3
1596
1638
1210
114 3
1326
150 3
164.3
174.7
141 9
1763
174 7
139 4
1696
175 9
135 5
1602
174 o
Durable manufactures
Ordnance, pvt. and govt
Lumber and products
"1526
P
164.2
P
148 3
P
e
!378
e
!430
1459
75.3
138 6
1r4 5 8
76.3
1387
P
e
!44
8
e
77.4
161 7
1614
121 0
1120
137 8
147 6
166.2
171.7
1620
1606
121 7
1150
132 3
1465
r
lB5.1
176.7
1627
1623
1187
109 4
1346
1475
162.3
177.0
P
1620
P
1615
P
1176
P
1089
P
131 8
P
1464
P
e
l!7 5
124 7
1385
1739
131 7
1506
1729
1335
1506
1750
144
7
P
77.0
138 4
P
162.6
P
177.7
P
128 3
P
1397
P
173 2
336 821
377 428 381 302 377 428 382 991 388 938 395 729 400 326 403 276 405 380 r409 527 411 027 413 192 r423 277 428 964
338 099
379 630 376 812 379 630 384 190 387 822 391 893 397 530 401 504 405 966 r413 395 r416 956 417 334 r421 205
198 041 196 803 198 041 200 908 203 642 205 589 209 178 211 085 214 339 r216 560 r219 137 221 417 r223 450
129 226 128 422 129 226 131 699 133 994 135 278 137 903 139 502 141*700 143 369 144 966 145 927 148 042
68,816 68,381 68,816 69,209 69648 70311 71,275 71*583 72*639 r 73 191 r74 171 75490 r75 408
100 818 100 483 100 818 101 739 101 175 102 226 103 379 105 162 106 382 108 691 109 092 107 524 108 971
48 161 47555 48161 49302 49367 49583 50526 51805 52*518 53753 53667 51834 r52 095
52657 52928 52657 52437 51 808 52643 52 853 53 357 53 864 54938 55 425 55 690 r56 876
80771 79526 80771 81 543 83 005 84 078 84 973 85257 85245 88 144 88 727 88393 rgg 784
52*,460 51,625 52,460 52,490 53773 53,937 54,408 54,542 54542 56062 56931 56605 '57 207
28,311 27,901 28,311 29,053 29,232 30,141 30,565 30,703 30,703 32,082 31,796 31,788 r31 577
90120
43,414
46706
Merchant wholesalers total ..
Durable goods establishments
Nondurable goods establishments
do
do....
do....
67998
44,368
23,630
Mfg. and trade inventories in constant(1972)dollars,
end of year or month(seas.adj ) total*
bil $
Manufacturing *
do....
Retail trade *
do
Merchant wholesalers *
do....
2491
1360
650
48.1
2496
1363
648
48.5
2510
1374
649
48.7
251 4
138 1
642
49.1
252 2
1384
64 4
49.4
253 8
1395
647
49.6
254 7
1399
65 4
49.4
2562
141 1
65 8
49.3
2589
1417
66 8
50.5
1
!65.1
e
9
1
141 7
"2707
P
70 1
Mfg. and trade inventories, book value, end of year
or month (seas adj ) total 1"
mil $
do
do....
do
!647
e
!53
e
P
136
P
213
P
Mfg. and trade inventories, book value, end of year
or month (unadj ) total 1"
mil $
Retail trade total
Durable goods stores
Nondurable goods stores . ..
e
1369
r
211 0
141
9
r
274.2
70 1
mil $ 2 696 228 3 049 496 270 496 276 104 249 764 258 944 294 551 278 866 295 899 296 227 r277 217 r296 743 294 500 r 309 oil 301 246
do.... '2,696,228 1 3,049 496 269,792 272,537 273,304 274 579 285 372 275 936 287 139 283 388 r289 206 r293 059 296 394 r299 155 299 183
Manufacturing total 1"
do 1330104 1 1496 573 132 082 133 796 135 301 135 962 142 503 134 126 142 288 138 960 C141 730 142 532 143 201 145 629 144 891
Durable goods industries
do.... 696,120 798,057 71,392 72,637 72,897 73,646 76,855 70,996 75,698 72,629 r73,585 r74,416 74,012 r75,488 74,066
Nondurable goods industries
do.... 633,985 698,515 60,689 61,159 62,404 62316 65648 63 130 66590 66331 r 68 145 r68 116 69189 •70 141 70825
Retail trade total
..
do
'724 020 '798 818 70 158 70918 70855 71 122 72045 71316 71 914 71 803 72370 74 794 76929 r75 611 76 175
Durable goods stores
do
247 832 277 916 24 954 25 163 25250 25'035 25*450 24*614 24 731 24 316 24 471 25 940 26 972 r25 468 25 248
Nondurable goods stores
do.... 476,188 520,902 45,204 45,755 45,605 46*087 46595 46J52 47*183 47487 47899 48*854 49957 r50 143 50927
Merchant wholesalers, total
do.... ^42,104 '754,105 67,552 67,823 67,148 67,495 70,824 70,444 72,937 72,625 75,106 75,733 76,264 r77,915 78,117
Durable goods establishments
do.... 285,605 349 916 31498 31939 31012 31769 33570 32770 33354 32956 34078 34711 33862 rr35 568 34 826
Nondurable goods establishments
do.... 356,498 404,189 36,054 35,884 36,136 35,726 37,254 37,674 39,583 39,669 41,028 41,022 42,402 42,347 43,291
Mfg. and trade sales in constant (1972) dollars
(seas, adj.), total *
bil. $..
1623
1632
1615
1605
1653
1584
1629
1599
1610
1621
1620 1r6 1 5
1602
Manufacturing *
. '~ do .
774
778
780
776
805
752
769
78 8
76 7
767
766
753
76 2
r
Retail trade *
do
47 3
47 8
46 8
45 9
46 8
46 5
455
45 6
46 9
47 7
466
468
46 0
r
Merchant wholesalers *
do....
376
376
367
364
380
373
377
386
385
38 1
38 1
38 4
38 1
BUSINESS INVENTORIES
179,981
115
552
C
64,430
7
!27.1
147 0
154 4
Mfg. and trade sales (seas, adj.), total t
do ..
do
do....
e
!47
e
P
Mfg and trade sales (unadj ) total t
Manufacturing, total t
Durable goods industries
Nondurable goods industries
8
!55.3
124.4
4
!787
188.1
e
!28 7
e
!95
e
965
BUSINESS SALES
See footnotes at end of tables.
!556
162.9
2594
1423
666
50.5
257 6
1425
65 3
49.9
r
2582
1429
65 6
r
49.7
424 158
226 167
150 237
75930
109 343
52358
56985
88648
56715
31933
258 1
1434
654
49.3
!54 7
e
!474
163.3
e
!79.0
e
!260
e
!348
C
1760
S-l
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
1979
1978
Nov.
Annual
January 1980
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total t
Manufacturing total *t"
Durable goods industries
Materials and supplies
Work in process
Finished goods . . .
ratiodo
do
do....
do
do
1.41
1.52
1.84
0.60
0.77
0.47
1.40
1.39
1.37
1.44
1.40
1.43
1.43
1.49
'1.80
0.58
0.77
0.45
1.48
1.77
0.57
0.76
0.44
1.41
1.48
1.81
0.58
0.77
0.46
1.41
1.59
1.94
0.66
0.79
0.50
1.50
1.82
0.58
0.78
0.46
1.44
1.76
0.57
0.75
0.44
1.56
1.94
0.62
0.83
0.49
1.48
1.84
0.59
0.79
0.46
1.54
1.95
0.62
0.85
0.49
1.54
1.95
0.62
0.84
0.49
1.42
1.54
1.95
0.62
0.84
0.48
1.41
1.55
1.97
0.63
0.86
0.48
1.53
1.96
0.63
0.86
r
0.47
1.42
1.56
2.03
0.65
0.89
0.49
Nondurable goods industries
Materials and supplies
Work in process ...
Finished goods
do....
do
do
do
1.20
0.48
0.19
0.53
1.14
0.44
0.18
0.52
1.13
0.44
0.18
0.52
1.13
0.44
0.18
0.51
1.11
0.43
0.17
0.50
1.12
0.44
0.18
0.50
1.07
0.42
0.17
0.48
1.13
0.44
0.18
0.51
1.07
0.42
0.17
0.48
1.10
0.43
0.17
0.50
1.09
0.42
0.17
0.49
1.09
0.43
0.17
0.49
1.09
0.42
0.17
0.49
1.08
0.42
0.17
0.48
1.07
0.42
0.17
0.48
Retail trade total
Durable goods stores.
Nondurable goods stores
do
do
do
1.44
1.97
1.15
1.43
1.91
1.17
1.45
2.05
1.13
1.44
2.07
1.12
1.19
1.61
0.81
1.21
1.65
0.82
1.50
2.20
1.15
1.17
1.65
0.78
1.44
2.05
1.13
1.21
1.69
0.80
1.48
2.16
1.13
1.17
1.65
0.77
1.40
1.92
1.11
1.18
1.64
0.77
1.46
2.09
1.13
1.17
1.65
0.77
1.46
2.07
1.13
1.19
1.67
0.78
1.42
1.97
1.12
1.23
1.69
0.82
1.42
1.95
1.13
do
do
do....
1.42
1.91
1.15
1.19
1.64
0.79
1.44
1.95
1.15
Merchant wholesalers total
Durable goods establishments
Nondurable goods establishments
1.40
1.97
1.11
1.21
1.73
0.80
•1.17
C
1.64
C
0.78
1.16
1.67
0.75
1.14
1.61
0.75
1.13
1.63
0.74
1.54
1.76
1.38
1.29
1.53
1.75
1.35
1.31
1.56
1.76
1.39
1.33
1.57
1.78
1.38
1.35
1.53
1.72
1.38
1.30
1.60
1.86
1.41
1.33
1.56
1.78
1.42
1.30
1.60
1.84
1.45
1.31
1.61
1.84
1.46
1.31
1.60
1.86
1.42
1.31
1.59
1.87
1.37
1.31
1.60
1.87
1.41
1.30
1.61
1.91
1.40
1.29
1.45
Manufacturing and trade in constant (1972) dollars,
total *
do
Manufacturing *
do ..
Retail trade *
do
Merchant wholesalers *
.
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:
Durable goods industries:
Unadjusted total
mil $
Seasonally adj., total
do....
Shipments (not seas, adj.), total t
Durable goods industries, total
Stone clay and glass products
Primary metals
Blast furnaces, steel mills
Fabricated metal products
Machinery, except electrical
Electrical machinery . .
Transportation equipment
Motor vehicles and parts
Instruments and related products
Nondurable goods industries, total
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
76,257
do.... 1,330,104 1,496,573
do.... 696,120 798,057
43,888
35,274
do
do. .. 103,340 120,390
60,533
51,519
do....
96,212
85,255
do....
do.... 118,541 137,119
98,661
85,759
do .
do.... 168,133 188,883
do.... 117,758 132,207
31,560
28,570
do....
do.... 633,985 698,515
do.... 189,993 211,921
9,589
do
10,941
40,821
43,951
do ..
57,654
52,368
do....
do
113,891 126,445
95,656 103,567
do....
39,930
36,995
do....
Shipments (seas adj ) total "j"
do
By industry group:
Durable goods industries total $
do
Stone clay and glass products
do
Primary metals
do
Blast furnaces steel mills
do...
Fabricated metal products
do....
Machinery except electrical
do
Electrical machinery
do....
Transportation equipment
do
Motor vehicles and parts
do .
Instruments and related products
do
Nondurable goods industries total # . ... do. .
Food and kindred products
do
Tobacco products
do
Textile mill products
do...
Paper and allied products
do
Chemicals and allied products
do
Petroleum and coal products
.
do..
Rubber and plastics products
do
By market category: t
Home goods and apparel
do
Consumer staples
do....
Equipment and defense prod., exc. 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: t
Book value (unadjusted) total
Durable goods industries total
Nondurable goods industries, total
66,765
1.41
6,697
6,899
6,588
6,806
6,999
7,034
6,702
7,270 '7,220
6,919
7,604
6,151
6,650
7,388 '6,984
6,785
7,148
6,834
6,430
7,601
7,484
6,640
7,030
6,462
131,499 126,980 124,147 136,570 148,034 137,558 144,304 147,053 131,605 140,375 148,657 150,802 144,057
70,662 68,389 65,767 73,464 80,920 73,560 77,997 78,976 67,066 71,365 '76,949 '78,538 73,097
4,168
3,147
3,989
3,924
4,263
4,471
4,016
4,386
4,343 '4,552
3,389
3,386
3,855
11,457
10,467 10,397 10,350 11,653 13,122 11,024 13,055 12,599 10,955 11,482 11,907 12,073
5,266
5,186
6,725
5,001
6,656
6,208
5,603
5,712
5,823 rr5,754
5,277
5,747
5,068
9,143
7,933
9,939
8,895
9,620
9,787
8,477
9,332
9,438
9,683
8,399
8,721
8,489
11,686 12,495 11,120 13,078 14,144 13,176 13,251 14,043 12,039 12,783 13,881 13,789 12,607
9,590
8,128
9,562
8,873
8,990
9,851
8,178
9,029
9,877 '9,790
8,695
9,101
8,699
17,568 15,677 16,522 17,729 19,273 17,090 18,190 17,086 13,583 13,139 15,758 16,821 15,154
9,682
8,487
7,640 10,210 11,338
12,532 10,566 11,748 12,658 13,424 11,568 12,883 11,567
3,301
2,509
3,058
2,837
2,943
3,211
2,765
3,021
3,346 r3,242
2,741
2,769
2,841
r
60,837 58,591 58,380 63,106 67,114 63,998 66,307 68,077 64,539 69,010 71,708 r72,264 70,960
18,547 18,473 17,507 19,037 19,875 18,754 19,268 19,604 18,863 19,544 20,623 21,053 20,636
1,060
882
885
1,049
1,036 1,097
941
985
952
1,040
1,126
1,014
991
3,637
4,013
3,491
4,207
3,942
4,234 r4,301
4,077
3,838
3,973
3,419
3,783
3,519
r
5,532
5,464
5,637
5,770
5,507
5,795
5,664
5,745
4,737
5,379
5,639
5,061
4,573
10,435 10,425 10,782 11,704 13,121 12,476 12,898 13,175 11,818 12,228 13,172 12,759 12,452
12,881
9,800 10,388 10,909 11,084 11,968 12,351 12,302
9,252
9,704 10,015
9,074
9,464
r
3,947
3,588
3,812
3,893
3,923
3,415
3,804
3,826
3,337
3,829
4,145
3,461
3,021
132,082 133,796 135,301 135,962 142,503 134,126 142,288 138,960 141,730 142,532 143,201 145,629 144,891
6,940
6,847
71,392
3,903
11,034
5,456
8,670
12,213
8,558
17,072
12,004
2,754
72,637
3,918
11,471
5,872
r
70,996
3,850
10,405
4,808
75,698
4,124
12,372
6,351
8,877
12,776
8,962
17,523
12,458
2,869
76,855
3,903
12,323
6,244
9,781
13,065
9,275
17,817
12,216
3,009
8,695
12,719
8,835
16,065
10,748
2,873
9,338
13,058
9,157
17,239
12,123
2,963
72,629
4,072
11,494
5,628
9,040
12,902
9,308
15,429
10,345
3,028
62,404
18,460
1,051
3,877
4,994
11,742
9,333
3,680
62,316
18,903
936
3,654
5,272
11,416
9,512
3,773
65,648
19,651
1,008
3,856
5,527
12,225
10,231
3,913
63,130
18,772
964
3,859
5,412
11,577
9,867
3,635
66,590
19,418
1,027
3,914
5,613
12,419
10,622
3,809
66,331
19,296
843
3,984
5,479
12,552
10,757'
3,704
68,145
19,770
1,142
4,060
5,838
12,852
10,977
3,739
73,646
3,678
11,659
5,730
9,051
12,487
8,735
16,851
11,936
2,739
72,897
3,731
10,980
5,260
8,762
12,106
8,924
18,411
12,642
2,768
60,689
18,329
993
3,693
5,099
10,962
9,090
3,546
61,159
18,813
919
3,608
4,882
11,403
9,328
3,312
73,585
4,111
11,887
5,999
74,012
4,027
11,554
5,726
8,987
13,618
9,366
15,623
10,072
3,139
'75,488
r
4,246
12,088
r
5,895
r
9,310
13,783
r
9,375
15,495
10,251
r
3,089
74,066
4,226
12,085
5,686
9,334
13,168
9,468
14,792
9,285
3,201
68,116
19,518
1,021
3,903
5,634
12,410
11,885
3,773
69,189 rr70,141
19,943 20,273
1,049 1,055
3,973 '4,039
5,544 r5,641
12,705 12,864
12,281 12,419
3,730 r3,774
70,825
20,387
1,037
3,916
5,576
13,082
12,905
3,675
10,795 10,945
25,301 rr25,783
20,553 20,243
11,846 12,121
12,624 13,068
62,082 r63,429
10,997
26,100
20,019
11,099
12,909
63,687
r
4,966
r
23,026
r
20,021
r
4,850
22,734
19,611
3,123
74,416
4,055
11,787
5,787
9,053
9,118
13,239 13,607
9,101
9,218
r
!5,596 16,034
10,066 10,071
3,009
3,006
102,713
242,134
177,268
137,605
109,361
561,024
114,547
268,237
203,025
153,752
130,079
626,934
9,937
23,177
18,158
13,873
11,786
55,150
9,705
23,541
18,394
13,752
11,937
56,467
9,916
23,524
18,825
14,694
11,442
56,899
9,793
23,805
18,848
14,388
11,601
57,527
10,275
24,763
19,710
14,086
12,591
61,078
9,912
23,840
19,022
12,490
11,913
56,949
10,381
24,686
19,331
13,798
12,429
61,663
10,551
24,480
19,075
11,972
12,319
60,563
10,496
25,421
19,726
11,749
12,526
61,812
10,750
24,865
20,445
11,935
12,576
61,961
45,015
202,190
172,014
30,176
51,453
233,405
200,895
32,512
4,425
20,710
17,972
2,738
4,442
21,059
18,246
2,813
4,392
21,582
18,641
2,941
4,498
21,363
18,612
2,751
4,691
22,525
19,497
3,028
4,563
21,536
18,587
2,949
4,577
21,840
19,036
2,804
4,661
21,791
18,762
3,029
4,701
22,169
19,386
2,783
4,615
22,999
20,007
2,992
4,669
22,947
20,019
2,928
C
3,005
r
Book value (seasonally adjusted), total t
By industry group:
Durable goods industries, total #
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
do....
179,981
197,979 195,872 197,979 202,336 205,426 207,096 210,291 212,123 213,818 214,979 217,893 219,375 222,296 225,154
148,770
128,405 127,196 128,405 132,053 135,093 136,660 139,064 140,697 142,041 142,752 144,370 144,618 146,672
r
69,574 68,676 69,574 70,283 70,333 70,436 71,227 71,426 71,777 72,227 73,523 74,757 75,624 76,384
198,041 196,803 198,041 200,908 203,642 205,589 209,178 211,085 214,339 216,560 219,137 221,417 '223,450 226,167
do....
do....
do....
do....
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
do....
do....
do....
do....
do....
do....
115,552
4,256
17,674
9,692
14,793
26,300
15,465
21,458
7,934
5,742
129,226 128,422 129,226 131,699 133,994 135,278 137,903 139,502 141,700 143,369 144,966 145,927 148,042 150,237
5,445 '5,522
5,550
5,429
5,445
5,252
5,322
5,372
5,099
5,144
4,787
4,826
4,934
4,826
17,962 17,995 17,962 17,844 17,907 17,761 18,608 18,191 18,578 18,795 19,144 19,065 19,149 19,464
9,964 10,260 10,343 10,593 10,457 10,556 10,708
9,832
9,828
9,969
9,823 10,478
9,852
9,828
16,834 16,677 16,834 17,129 17,484 17,796 18,068 18,195 18,584 18,533 18,636 18,682 18,771 19,097
30,925 30,410 30,925 31,444 31,856 32,509 32,903 33,573 34,120 34,607 35,132 35,525 '35,957 36,346
17,066 17,098 17,066 17,654 17,755 18,066 18,228 18,479 18,714 19,015 19,180 19,486 19,817 20,047
24,131 24,054 24,131 24,952 25,891 25,717 26,401 27,125 27,390 27,994 28,219 28,534 '29,465 30,213
8,857
9,236
9,257
8,811 '8,894
8,683
8,761
9,070
9,177
8,179
8,381
8,868
7,767
7,767
7,336
7,445
7,486
7,456 '7,491
7,585
7,036
7,109
7,212
6,412
6,636
6,790
6,468
6,468
See footnotes at end of tables.
do
do....
do....
180,116
114,860
65,256
Dec.
S-5
SURVEY OF CURRENT BUSINESS
January 1980
1977
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1978
Annual
1978
Nov.
1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
46492
7 108
9748
5,549
8310
62776
6827
16304
9,170
16001
46382 r47
734
6959 r 7 116
r
9929 1r0 405
5,668 r 5763
7977
8298
48039
7299
10463
5719
8303
66204
6917
16774
9,878
17956
35698
5,209
9,080
4461
3,908
63828 '64
892
6945 r 6935
16393 r !6
602
9,434 r9,636
16653 r !7 235
35717 r35
416
5,161 rr 5098
9,203 r8,950
4384
4418
3,904 r3,932
Oct.
Nov.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS t—Continued
Inventories, end of year or month t—Continued
Book value (seasonally adjusted) t—Continued
By industry group—Continued
Durable goods industries—Continued
By stage of fabrication: t
Materials and supplies
mil. $.
Primary metals
do
Machinery, except electrical
do
Electrical machinery
do....
Transportation equipment . . .
do
Work in process #...
do
Primary metals
do....
Machinery except electrical
do
Electrical machinery
do....
Transportation equipment ..
do
Finished goods # ..
do
Primary metals
do....
Machinery, except electrical
do....
Electrical machinery
do .
Transportation equipment
do....
Nondurable goods industries total $
do
Food and kindred products
do....
Tobacco products
do
Textile mill products
do .
Paper and allied products
do
Chemicals and allied products
do
Petroleum and coal products
do....
Rubber and plastics products
do
By stage of fabrication:
Materials and supplies
do
Work in process
do....
Finished goods
do
By market category: t
Home goods and apparel
Consumer staples
Equip, and defense prod., exc. auto
Automotive equipment
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Capital goods industries.
Nondefense
Defense
New orders net (seas, adj ) total t
By industry group:
Durable goods industries, total
Primary metals
Blast furnaces steel mills
Nonferrous and other primary met ..
...
Nondurable goods industries, total
Industries with unfilled orders $ . . . .
Industries without unfilled orders f[
By market category: t
Home goods and apparel
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
2
64 430
2
15,706
2
3508
2
5332
2
5628
2
14
134
2
5,955
2
2
68 816
2
17,262
2
3619
2
2
68 381
2
17,031
2
3628
2
2
2
2
25
2
10
2
227
142
29 061
2
15,397
2
24 005
2
42,807
2
10 182
2
14,963
2
46
990
2
5752
11
763
2
6,879
2
11 750
2
29
816
2
4839
2
7,248
2
4071
2
2,899
do....
do ..
do
do
34 117
5060
8,349
4376
3668
34052
4915
8,443
4348
3636
35060
5314
8,691
4362
3,776
35023
5062
8,765
4363
3,941
35354
5 158
8,969
4323
3,904
45538
6 844
9*595
5571
7926
62006
6677
15977
8,984
16075
35825
5274
9,035
4460
3,993
69209
17,335
3 651
5731
5 867
15495
5380
C
4629
69 648
17,850
3 528
5728
5901
15521
5 139
4632
70 311
18,119
3586
5718
6045
15548
5063
4707
71275
18,249
3575
5725
6206
15919
5,181
4880
71583
18,524
3581
5666
6294
15964
5063
4868
72639
19,106
3716
5645
6 344
15901
5347
4870
73 191
19,159
3607
5665
6245
16022
5597
4985
74 171
19,293
3729
5703
6363
16267
5,997
4947
75490 rr 75 408
19,856 !9,871
3746 rr 3693
5686 r 5746
6422
6538
16582 1r6 610
6,354 r6,400
4962
4818
35994
5248
9,109
4452
3,954
75930
20,091
3657
5834
6622
16777
6,411
4799
2
26 610
2
10717
2
27098
10839
31272
27292
10990
31 366
27712
10982
31617
28089
11 149
32037
28079
11248
32256
28400
11335
32904
28515
11548
33128
29266
11,598
33307
29369 r29 577
11,890 11,981
34231 r 33 850
29970
11933
34027
2
16 966
2
26 517
2
50,285
2
10 071
2
17332
26610
51,289
10689
17,296
77 692
17408
26954
51,941
11 215
17,801
78 323
17573
27394
52,542
11 111
17,944
79 025
17415
27675
53,318
11 496
18,351
80 923
17284
28 166
54,447
11567
18,589
81 032
17398
28780
55,632
11 219
18*982
82 328
17598
28702
56,408
11 606
18,828
83 418
17,515
29044
57,316
11606
18,878
84768
17,501
29529
58,254
11 199
18,882
86052
17,293
r
29 404
'59,527
1 1 304
19,000
r
86 922
17,367
29619
60,868
11 104
19,290
87919
43570
6602
9081
5227
7719
54
889
2
6311
13
997
2
7,881
2
14 049
56275
6351
14 512
8,064
14229
57262
6342
14 661
8,330
14512
2
2
33394
5010
8,136
4473
3336
2
68
2
5663
25 777
15
255
2
5616
2
4515
816
17,262
23619
2
5666
25 875
2
15
429
2
5423
2
4602
2
26 610
2
10717
2
2
26 427
2
10 695
2
2
16,966
2
26 517
2
50,285
2
10 071
2
2
16,815
2
26 238
2
49,439
2
10 466
2
16,888
2
16,993
77 211
72 626
2
2
2
8692
2
55'370
2
48
203
2
2
714,748
2
105
968
2
53 394
2
59975
6485
15434
8,753
15205
44885
6751
9531
5483
7657
61 461
6669
15620
8,908
15829
42615
6 505
8846
5049
7711
31 489
7838
57656
6244
14985
8,491
14362
43848
6635
9069
5244
7931
58995
6659
15 143
8,622
14694
42030
6483
8796
5 117
7387
4303
2
46 738
2
40,350
2
2
41 468
26573
2
8680
2
4945
2
6967
2
55
449
2
6368
2
14
271
2
7,872
2
14 129
5666
25 875
15
429
2
5423
2
4602
41
276
2
6550
2
8'596
2
4,923
2
6946
2
2
32
256
2
5 134
2
7,817
2
4294
2
3,059
31 259
32
309
2
5021
2
7,974
2
4249
2
3,035
31 489
16,993
76 954 277 211
2
8630
2
54 542
2
47,555
2
6389
7 167
6988
do . 12 349 416 12 541 861 22136 066
do.... 2714,748 2841 739 275 125
do.... 634,668 700,121 60,941
do 1 349 416 1 541 861 2 137 794
44504
6644
9374
5363
7979
28692
8 842
8 831
8 777
8 857
8881 r 8 866
8899
8 793
8 756
8828
8 879
370 56520 57308 58 139 59*016 60*440 61710 62*658 63601 64990 rr66 293 67743
467
58,502
203 49109 49796 50540 51 442 52608 53730 54612 55420 56471 57
8046
8181
8519 T 8826
9241
7 167
7411
7512
7599
7574
7832
7980
2
130
517
140
488
335 145 418
132
056
145
491
153
972
142
739
144
733
149
983
132
360
150
964 153
2
r
71 899 73762 81842 86971 78341 78568 81410 67926 71203 78998 81 075 73964
2
58,617 58,294 63649 67001 64,398 66,165 68073 64,434 69,285 71,966 r72,260 71,454
2
138 069 141 748 144 036 148 586 139 332 143 594 142 269 140 508 142 664 147 154 146 537 147 788
2
55
2
48
2
2
841
2
128
Z
65
2
2
76,912
2
2
76,831
2
11 955
25870
2
4823
79647
13607
7 331
5078
81312
13042
6873
4 941
83088
13037
6 833
4921
76099
11782
6040
4658
77,027
11270
5219
4756
75820
11658
5 476
5050
739
002
307
49 500
72,545
10 937
5 no
4728
85 609
121,849
2
88
241
2
176,468
2
40 270
do.... 22634,668
do
139 673
do.... 2494,995
2
99
2
142
2
103
2
210
2
016
863
216
419
53 503
2
700 121
2
153 795
2
546 326
2
8808
13010
2
9005
2
20
819
2
6995
2
60 882
2
13 294
2
47 589
2
9571
13
068
2
9225
2
18,607
2
4518
2
61
238
2
13 068
2
48 171
9276
13085
9611
20 102
5 124
62 101
14074
48,027
9 193
13401
10017
2l'869
7340
62724
13725
48999
10509
14988
9676
20002
5547
65498
13783
48 118
9036
12772
9362
18375
5712
63233
13885
49348
9477
13 140
9 587
18966
5343
66567
14346
r
52 221
8878
13502
9690
17586
6046
r
66 449
14293
52 156
8994
13 105
8867
15874
4361
67963
14587
53376
74,029
10 707
4503
5 104
9268
13,401
9833
16,230
4562
68,635
14882
53,753
do .
do
do
do....
do....
do
2
103 442
2
242 157
2
186 569
2
138,805
2
110,261
2
2
114 547
2
268 264
2
226
205
2
155*910
2
131,384
2
2
9804
2
23 179
2
21
342
2
14 227
2
11,615
2
2
9608
2
23 544
2
19
862
2
14312
2
12,430
2
10 122
23523
20 136
14964
11,560
61 443
10074
23 805
23 273
14*580
11,762
60 542
10448
24 765
24011
13755
13,071
62 536
10 105
23 856
20 359
12502
12,326
60 184
10094
24 696
21 392
13442
12,449
61 521
10818
24 510
19930
12 128
12,046
62837
10313
25428
19744
11,473
12,431
61 119
10787
24875
20062
11,475
12,670
62795
10896
25,296
23029
11,994
12,547
63392
1 0 765
'25,765
'20 463
11,825
12,773
'64 946
10894
26051
21875
10,614
12,768
65586
do.. .
do
do
do.. .
2
45
2
214
2
181
2
733 2 51 456
060 2261 400
010 2219 693
33 050 241 706
2
4325
2
25 126
2
20
754
2
2
4371
2
23 215
2
19
132
2
4596
24 191
21 410
2781
4724
26 726
22 868
3*858
4828
27079
23 978
3 101
4744
23980
20 767
3213
4308
24583
20965
3618
4855
24250
21753
2497
4530
22536
20232
2,304
4,657
23770
20737
3,033
4,745 '4714
26045 '23 797
21815 '20 784
4,230 '3013
4647
25 143
21089
4054
do .
do....
do
do....
do ..
Unfilled orders, end of year or month (seasonally
adjusted) total t
mil $
By industry group:
Durable goods industries total # .. .
do
Primary metals
do
Blast furnaces steel mills
do
Nonferrous and other primary met
do....
Fabricated metal products
do
Machinery except electrical
do
Electrical machinery
do....
Transportation equipment
do
Aircraft, missiles, and parts
do....
Nondur. goods ind. with unfilled orders $ .. do....
By market category: t
Home goods apparel consumer staples
do
Equip, and defense prod., incl auto
do....
Construction materials and supplies
do....
Other materials and supplies
. .. . d o .
Supplementary series:
Household durables. ..
do
Capital goods industries
do....
Nondefense
. . . . do
Defense
do....
2
41
468
2
6573
2
8680
2
4945
2
6967
2
55
449
2
6368
2
14
271
2
7,872
2
14 129
2
32
309
2
5021
2
7,974
2
4249
2
3,035
2
do
do
do....
do
Unfilled orders, end of year or month (unadjusted),
total t
mil. $..
Durable goods industries total
do
Nondur goods ind with unfilled orders $
do
See footnotes at end of tables.
2
38
745
2
7083
2
7289
2
4,515
2
6809
2
mil. $..
do
do....
do
do....
do
New orders, net (not seas, adj ), total t
Durable goods industries, total
Nondurable goods industries, total
Fabricated metal products .
Machinery, except electrical
Electrical machinery .
Transportation equipment
Aircraft, missiles, and parts
2
41 360
2
2
568 182
645 552
11 435
25733
2
4415
2
57 627
4371
2
58 313
4083
C
C
c
77,560 '76,400
l l 707 '12 315
5 649 '5 665
4*990 '5*440
76,321
12623
5 893
5*624
8745
13983
9796
18,323
5956
69,594
14787
54,807
'9503
1 3 839
'9661
15,686
'3944
'70,137
'14 701
'55,436
9 197
13,686
9683
16,088
5341
71,467
15228
56,239
2
191
2
183
2
2
237
2
226
2
2
193 150
2
238 652 2234 381 2238 652 245 113 253 187 259 267 264 479 265 782 269 086 267 863 267 994 271 946 '272 906 275,801
184
319
2
18 856
2
12
192
2
5,347
2
228
181 2223 989 2228 181 234 943 242 608 248 839 253 948 255 273 258 457 257 417 257 029 260 576
2
26 738 2226 253 2226 738 29 366 30 749 31 463 32 840 31 738 31 902 30 953 29 870 30024
2
17
179 17'l81 17 179 19250 20393 20982 22214 21082 20930 20041 18756 18680
2
8,833
8*,390
8,570
8,176
8*.445
7,443 27,050 27,443
7,928
8,073
8,115
8,282
2
26 094 2225 574 2226 094 26609 26 923 27 652 27 996 28 132 27 970 27 911 28060 27818
2
53 037 52'456 53 037 54019 54644 56565 56617 56*698 57*296 57*163 56958 57323
2
30,427 2229,938 2230,427 31,115 32,172 32,569 33,096 33,527 33,906 33,671 34,285 34,715
2
80 910 279 156 280 910 82 605 86952 89 138 91 449 93 177 95333 95610 95807 98,506
2
56,098 54,907 56,098 57,313 61,491 63,199 65,360 67,142 69,763 70,249 70,761 72,914
2
10,471 2 10,392 210,471 10,170 10,579 10,428 10,531 10,509 10,629 10,446 10,965 11,370
843
296
8547
2
2
23
2
47
2
317
218
25,832
259 565
2
40,351
2
8,831
134
975
10 159
2
2
4092
109,529
2
18,890
2
60 639
2
3359
2
119,947
2
85
517
2
34,430
2
2
4 108
134
669
2
20 195
2
79 680
2
3347
2
147 787
2
104
225
2
43,563
2
233
2
223
2
600
466
10 134
2
4201
2
237 134
2
226 975
2
10 159
245 032 253 954 259 896 265 078 265,506 267,941 268,694 268,812 271,120 '273 650 275,014
234 957 243 337 249 393 254 172 254 745 257 179 258 040 257 882 259 931 '262 464 263 335
10075 10617 10503 10 906 10 761 10762 10654 10930 11 189 '11 186 11679
'261 538 263 791
'30 252 30790
'18 450 18657
9,506
'9,193
'28 013 27875
'57 383 57900
'35,002 35,218
'98 700 99995
'73,386 75,085
11,368
12,010
24 108
4,870
4822
5001
4,963 '4767
4613
4705
4771
4981
4316
4 596
136 260 140 877 144 844 146 194 147 898 148 905 148,647 147,804 150,430 150,539 151,729
20314 20475 20955 21369 21,388 21,114 21,020 21,114 21,037 '20,741 20,519
79 680 84223 87239 88697 91935 91791 94066 93374 94,206 95,516 '97 039 98940
2
132 644 22134 669
2
19 702 220 195
2
77 834
2
3418 2 3347
2
145 633 22 147 787
2
103 339 2104 225
2
42.293
3839
4097
4020
3847
3914 '3663
3777
3915
3828
3552
3458
150 408 155 769 160*318 162 764 165,506 167,963 168,329 169,101 172,199 '172,976 175 386
106 999 111 254 115730 117 910 119836 122 825 123 673 124 404 126 199 126 966 128 445
43.563 43.409 44.515 44*.588 44,854 45.670 45.138 44,656 44.697 46.000 '46.010 46.941
Dec.
S-6
SURVEY OF CURRENT BUSINESS
1977
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1978
Annual
January 1980
1979
1978
Dec.
Nov.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
44,914
45049
44,812
43213
40,330
44961
592
Oct.
Nov.
Dec.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INCORPORATIONS t
New incorporations (50 States and Dist. Col.):
Unadjusted
number
Seasonally adjusted
do
r
436 170
477,827
37661
41568
39701
42461
44745
42777
37759
42048
46,674
42087
43,486
42302
47,065
43741
44,766
42634
INDUSTRIAL AND COMMERCIAL
FAILURES t
708
602
545
732
734
7919
6619
556
535
642
Failures total
number
98
62
46
79
92
773
63
59
81
Commercial service
do
1 041
125
113
104
132
1204
102
111
129
Construction
do
1463
127
91
70
114
92
Manufacturing and mining
do
1 122
1013
94
99
112
91
269
307
317
308
Retail trade
do
3406
2889
217
265
235
269
105
67
62
66
60
79
85
740
57
Wholesale trade
do
887
r
Liabilities (current) total
thous $ 3 095 317 2 656 006 178 933 196 535 182 220 177 087 187 763 242 764 200 449 273 171
6373 14886 72688 25 103 27610
Commercial service
do
358 686 325 681 12465 13448 23471
Construction
do .. 420 220 328 378 25 101 86734 24653 19382 25790 25,556 34,710 24,798
Manufacturing and mining
do 1 221 122 878 727 46 192 30531 71647 53497 64600 72,694 60782 75,340
Retail trade
do ... 482 560 •777 450 39,424 45,841 36212 72,573 49,314 42,320 49,900 122,743
Wholesale trade
do
612 729 345 770 55751 19981 26237 25262 33 173 29506 29954 22680
Failure annual rate (seasonally adjusted)
No. oer 10.000 concerns..
1
28.4
X
23.9
25.2
26.4
27.4
24.4
27.9
30.8
29.1
26.2
615
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
615
482
621
443
334
344
521
1 120
609
476
541
451
339
350
500
1,135
496
526
469
362
370
545
1,141
610
524
526
497
380
423
579
1,141
611
539
500
514
394
442
623
1,105
528
504
500
383
432
630
1 155
602
507
484
480
383
444
495
1,186
591
504
499
518
370
457
514
1,143
693
728
904
264
602
485
700
458
330
344
519
1 124
726
728
964
269
754
722
1018
276
749
709
1,019
265
740
704
1,007
261
700
704
937
246
687
709
916
237
658
734
857
226
702
759
929
232
681
771
891
219
664
641
652
676
644
668
688
650
683
706
657
704
714
664
713
719
671
717
722
679
718
731
687
726
729
694
721
740
702
733
764
71
770
796
73
808
837
73
842
73
72
853
72
852
75
826
74
845
72
69
195.3
201.8
202.9
204.7
207.1
209.3
211.8
214.3
216.9
219.4
181 5
1954
2020
202 9
204 7
207 1
209 1
211 5
214 1
2166
179.1
1784
180.3
1747
178.9
1665
1632
165.1
1943
2016
1922
190 2
1865
191 1
1535
204.9
2022
2834
2134
167.5
191.3
1912
1940
1871
192.0
1743
1739
1747
2109
2194
2114
2102
2
2028
2104
3
1640
227.2
4
2160
B
2983
2326
2
177.7
196.7
1978
2005
1929
197.5
179 1
1800
1803
2186
2278
2178
216 1
2106
220 1
1685
2388
2185
306 1
2349
183.0
197.8
1986
201.5
1942
198.8
1800
1812
181.3
2192
2282
2194
2179
2115
2210
1695
239.5
2199
311.8
2362
184.0
199.5
1998
2032
1958
201.0
1803
1820
181.9
221 1
2304
2239
223 1
213 1
2228
1703
241.6
2215
3164
2395
184.8
201.6
2018
205.5
1983
204.0
1822
1836
183.7
2233
2329
2282
2280
2156
2259
1710
245.6
2233
326.1
2412
186.0
203.7
2038
2076
2005
206.9
1857
1849
185.9
225 1
2350
2304
2299
2176
2280
1713
248.2
2259
339.5
2440
187.4
206.0
206.3
210.1
2033
209.9
189.6
1872
188.9
227.0
237 1
2323
2317
2198
2307
1720
251.7
2275
349.8
2453
188.6
1542
177.2
1766
142.9
1828
1824
2024
1596
185.5
1850
1538
1865
1878
2194
164 1
191.4
191 1
1585
1947
1897
2270
1632
192.6
1925
159.8
1940
1891
2278
1607
193.9
1938
161.2
1936
1900
2307
161.4
195.6
1955
162.3
1934
190.7
2326
164.3
198.1
198 1
162.7
1954
1915
2339
165.4
202.9
203*2
164.3
2000
192.6
235 1
208.4
208.9
212.7
2058
212.8
193.2
1892
191.6
229.5
2398
234.3
2334
222.4
2335
173.8
254.9
2322
364.3
2516
189.2
166.1
207.7
208.1
165.8
2054
193.3
2363
210.7
211.8
215.2
2084
215.7
197.6
191 1
194.7
232.1
2426
235.4
2342
225.5
2367
174.7
258.8
239.0
391.2
259.9
190.1
165.7
212.6
213.3
166.3
2089
194.0
2377
All items percent change from previous month
Commodities ..
...
1967—100
Commodities less food
do...
Food .
do
Food at home
....
do
06
1930
179.8
2192
2178
06
1946
181.3
2213
220.1
09
1967
182.9
2245
2237
12
199 1
184.8
228 1
227.7
10
2013
186.9
2305
2300
1 i
2038
189.4
2327
232.4
1 i
2057
191.4
2343
233.5
10
207.7
193.9
2347
233.2
Fuel* and utilities
Fuel oil and coal
do ..
do
2189
3068
220.0
3103
2209
3123
222.6
3203
227.2
348 1
do
do
do. ..
do
161 8
1660
1999
200.0
162 1
225.1
2038
204.0
1643
227.2
2075
207.9
1661
230.1
211 1
211.8
1670
do....
1622
1954
1954
1591
220.7
1627
Services
1619
1912
191 1
1570
218.7
232.1
3647
1660
239.1
3936
Apparel and upkeep
Transportation
Private
New cars
225 1
3355
1652
Prices received, aU farm products
1910-14 = 100..
Crops #
do ...
Commercial vegetables
do
Cotton
do ..
Feed grains and hay
do
Food grains
...
do
Fruit
do....
Tobacco
.
do
Livestock and products #
..
do
Dairy products
do....
Meat animals
..
.
do
Poultry and eggs
do....
Prices paid:
All commodities and services
do....
Family living items
.
do .
Production items
do
All commodities and services, interest, taxes, and
wage rates (parity index)
1910-14—100..
Parity ratio §
do....
CONSUMER PRICES H
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
ALL ITEMS, WAGE EARNERS AND
CLERICAL WORKERS, REVISED
(CPI-W) U
1967 = 100..
ALL ITEMS, ALL URBAN CONSUMERS
(CPI-U) U
1967 — 100
Special group indexes:
All items less shelter
do....
AH 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
Food #
do
Food at home *
do
Housing
do
Shelter #
do
Rent ..
do
Homeownership
do....
Fuel and utilities #
do
Fuel oil and coal
do ...
Gas (piped) and electricity
do
Houshold furnishings and operation
do....
Apparel and upkeep
Transportation
Private
New cars
Used cars
Public
Medical care
.
do
do....
do
do ..
do
do
do
457
432
498
511
316
275
370
972
525
458
535
465
320
336
516
1061
454
r
483
516
309
349
483
1 116
556
461
r
543
490
319
347
471
1 143
579
470
638
473
322
346
482
1 134
481
594
564
228
595
647
757
242
632
709
800
250
656
722
835
261
591
573
579
638
616
626
658
638
645
687
66
744
71
181.5
541
r
594
598
r
502
r
545
r
515
r
496
518
503
372
440
452
1208
358
451
509
1,198
r
689
•789
882
248
705
795
900
264
747
709
740
749
715
739
757
722
747
862
870
872
880
70
68
68
68
221.5
223.7
225.6
227.6
2189
221 1
2234
225 4
227 5
212.7
214.2
217.6
2105
218.3
201.1
1926
197.0
234.7
2456
2369
2355
2284
240 1
175.9
263.0
2435
412.9
2645
190.4
214.2
216.9
219.7
212.2
220.4
205.4
1936
199.5
237.6
2488
236.3
2339
231.5
2439
177.5
267.6
247.2
438.6
266.5
191.2
216.1
219.6
222.1
214.1
223.1
209.6
1945
201.8
240.7
252.1
237.1
2347
234.6
2474
179.0
271.9
251.2
461.6
2701
192.2
164.3
216.6
217.4
166.7
2092
197.1
2399
166.3
219.6
220.4
166.6
2070
200.8
2418
169.8
221.4
2220
166.1
2029
205.2
2437
217.4
221.8
224 1
2156
224.5
211.3
1960
203.4
243.6
255 1
238.2
2354
237.7
2515
181.4
276.7
2529
470.8
2725
193.3
171.0
222.7
223.1
167.5
1999
209.1
2459
218.6
224.1
2262
2174
225.8
212.9
1984
205.4
246.2
2582
239.1
2360
240.8
2559
182.1
282.4
252.0
477.4
267.3
195.1
171.7
224.9
225.0
170.6
1984
216.5
2480
10
209.5
196.3
2350
233.0
243.7
4162
1656
11
211.4
198.9
2350
232.3
1 i
213.8
201.3
237 1
234.8
10
215.5
202.9
2389
236.4
10
217.5
205.2
2402
237.6
248.1
4439
1668
252.2
4686
254.0
4756
252.4
4784
1689
2148
215.4
1684
235.0
218.1
218.7
1691
237.8
2207
221.3
1698
1693
2218
222.2
1672
243.4
2248
224.9
1691
Seasonally Adjusted f
See footnotes at end of tables.
1932
193.2
1573
219.5
1975
197.5
1610
223.1
1658
232.5
240.4
1696
246.1
S-7
SURVEY OF CURRENT BUSINESS
January 1980
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
1978
Annual
Nov.
1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
COMMODITY PRICES—Continued
PRODUCER PRICES §
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
Spot market prices, basic commodities:
22 Commodities
1967=100..
9 Foodstuffs
do. ..
13 Raw industrials
do....
All commodities
.. .
do
By stage of processing:
Crude materials for further processing
do....
Intermediate materials, supplies, etc
do....
Finished goods #
do
Finished consumer goods
do....
Capital equipment
do
By durability of product:
Durable goods ....
do
Nondurable goods
do....
Total manufactures
. .
do
Durable manufactures
do....
Nondurable manufactures
do....
Farm prod., processed foods and feeds
Farm products #
Fruits and vegetables, fresh and dried....
Grains
Live poultry .
Livestock
Foods and feeds, processed #
Beverages and beverage materials
Cereal and bakery products
Dairy products
Fruits and vegetables, processed
Meats, poultry, and fish
do....
do....
do....
do. ..
do
do .
do....
do....
do....
do....
do....
do....
Industrial commodities
Chemicals and allied products #
Agric. chemicals and chem. prod
Chemicals industrial
Drugs and Pharmaceuticals
Fats and oils, inedible
Prepared paint
do
do
do....
do
do....
do....
do
Fuels and related prod., and power #
Coal
..
Electric power
Gas fuels
Petroleum products, refined
Furniture and household durables #
Appliances, household
Furniture, household
Home electronic equipment
Hides, skins, and leather products #
Footwear
Hides and skins
Leather
Lumber and wood products
Lumber
do....
do
do. .
do
do....
do....
do
do. .
do....
do....
do
do
do
do....
do.
Machinery and equipment #
Agricultural machinery and equip
Construction machinery and equip
Electrical machinery and equip
Metal working machinery and equip
do....
do....
do....
do....
do....
Metals and metal products #
Heating equipment .
Iron and steel
Nonferrous metals
Nonmetallic mineral products #
Clay prod., structural, excl. refrac
Concrete products
Gypsum products
Pulp, paper, and allied products
Paper
.
Rubber and plastics products
Tires and tubes. . . . .
Textile products and apparel
Synthetic fibers
Dec
Processed yarns and threads
Gray fabrics
Finished fabrics
Apparel . .
Textile house furnishings
Transportation equipment # ....Dec.
Motor vehicles and equip
do....
do
do....
do
do....
do....
do....
do....
do....
do
do...
do
do....
1975—100
do
do
do
1967—100
do....
1968=100..
1967—100
'209.6
'2082
X
210.4
252.2
2483
254.8
2157
250.8
2491
251.8
2175
255.3
2509
258.3
2208
268.0
2602
2735
1942
'234.1
'2392
'230.6
2093
214.3
201.7
1806
178.9
1845
240.1
215.5
1946
192.6
199 1
248.4
222.0
2003
197.9
206 1
252.5
223.0
2025
200.5
2070
260.2
225.7
2054
203.7
2093
188 1
198.4
190 1
188.1
191.8
2049
2119
2042
2047
203.0
2132
2200
2121
2128
210.6
188.8
192.5
192.2
165.0
1754
1730
186.1
201.0
173.4
173.4
187.4
182.0
195 1
206.6
2125
216.5
1825
1998
2201
2026
200.0
190.3
1884
202.6
217 1
2094
1988
198.4
2256
148.1
315.8
1923
322.5
4300
2506
4287
321.0
2121
2175
2107
2118
208.6
212.3
2182
207.0
1890
192 4
2224
2082
201.4
196.2
1996
216.3
2209
2160
1928
187.8
2239
140.5
279.0
1824
302.2
3894
2329
3878
308.2
151.5
145 1
162.2
87.7
160.4
1530
1735
90.2
200.0
183 0
3605
238 6
276.0
3224
179.3
168 7
2867
201 0
236.3
2765
181.7
197.9
213.5
154.1
198.5
209.0
1655
230.4
1954
196.1
213.1
232.9
164.9
217.0
227.1
1744
2536
2078
200.5
179.8
191.8
183.5
186.4
1943
167.6
1699
154.0
1073
1009
104 7
1037
1473
171.3
161.3
1637
2023
202.3
2274
152.1
361.2
1965
329.7
442 2
2503
4339
331.9
163.5
1556
1788
91.5
281.1
2591
297.3
2417
283.8
2523
307.7
2452
281.0
2507
304.0
2469
286.2
2554
3096
2369
279.5
2543
298.1
'2383
287.1
244.6
216 2
215.6
2172
281.7
'247.5
217 3
'217.5
'2165
287.9
250.7
2204
221.3
2177
289.2
254.6
2237
224.1
2225
290.8
256.1
2259
226.6
2238
296.7
258.4
2278
228.8
225 1
2258
2388
2265
2246
227.8
227 6
2437
2298
2266
232.5
2280
'2458
'2317
2272
'235.9
232.2
2468
'226.7
2474
183 8
2560
'227.5
2385
'241.7
2291
171 9
2402
2366
2592
2423
2358
248.8
234.5
2425
210.5
2279
194 7
2525
2233
214 1
212.4
2090
r
223.6
2377
237 5
'2205
'2165
'216.0
2152
'224.6
2255
2340
2535
2386
2333
243.7
230.6
2395
217.8
2290
1620
251 7
2248
2192
219.2
2182
223.3
2344
2485
2349
2560
2402
234 1
246.3
229.0
2428
226.4
2187
1829
2640
2206
2085
206.3
2084
221.5
241 4
2340
219 2
209.2
259 3
159.0
374 1
201 3
393.7
4520
2699
522 3
423.6
2297
2508
2349
2290
240.9
231.7
2410
208.2
2244
173 5
2564
276.3
2518
2945
2300
277.1
2544
2938
2320
278.1
2565
293.9
2335
281.2
2593
297.3
224 1
277.4
2618
2885
226 7
270.4
228.5
207 7
206.3
2108
276.6
231.5
209 1
207.9
211 7
279.9
235.8
211 4
210.2
2140
282.3
238.2
2127
211.6
215 l
283.0
240.3
2137
212.7
2158
2163
2234
2150
2158
213.4
2186
2272
2172
2177
215.9
221 0
2340
2197
2198
219.0
224 2
2367
2246
2232
225.4
216.2
2227
221.6
1847
1985
230 1
221.0
2304
233.7
1844
2060
2473
2118
201.0
196.8
2028
218.4
2292
217 2
2023
201.9
229 1
153.2
3329
1987
2152
2009
197.2
2035
218.5
2403
2200
166.6
1570
1810
92.2
223.4
196 4
4528
292 8
290.2
3366
167.9
1583
1813
923
232.2
203 0
4978
3092
293.9
3399
229.0
2428
235.7
1920
217 6
2758
2205
2012
200.1
2049
219.6
2506
225 4
209 9
206.3
239 7
156.6
3985
202 3
350.9
4453
2573
471 0
360.3
168.3
158 8
1818
923
253.3
209 9
639 6
371 9
300.5
3505
230.8
2454
228.2
2103
216 3
2807
2220
2053
204.9
2079
221.4
2504
231 6
2050
201.7
2340
155.4
336 1
1989
338.1
443 6
2510
4499
343.9
227.2
2409
263.0
1893
217 g
2665
2189
201 1
199.1
2032
219.5
2485
2225
2073
203.1
237 4
156.2
3679
2023
342.5
4440
251 1
458 1
350.0
2239
234 1
223 1
2227
222.8
231.2
2460
239.1
1983
2094
2840
2223
2015
203.0
207 1
220.5
2530
2290
215 1
209.8
248 2
157.5
4487
203 3
205.1
222.8
245.5
1712
230.4
206.5
223.9
247.9
1728
232.0
247.3
1809
2749
2392
334.3
443 g
2507
444 6
338.2
164.6
1557
1793
92.3
215.8
192 2
4170
278 7
290.0
3420
216.2
194 3
401 3
279 6
288.6
339 1
202.7
220.6
242.3
169.6
226.3
235.5
1772
261.7
2182
203.8
221.9
243.8
170.5
228.2
236.6
1791
2632
2190
222.8
197.2
214.0
229 1
195.6
206 1
1748
1792
159.8
1096
1024
118 6
1038
1524
1786
230.0
204.4
222.9
242 1
203.9
214 0
1794
1877
163.2
1106
1053
126 7
1048
1553
180.5
231.1
206.5
224.2
2427
205.2
214 6
1797
1888
1636
1106
104 7
1259
1060
1555
1834
173.5
1760
180.1
1825
180.5
1828
241.9
180 1
2724
2235
238.3
209.7
2356
2476
207.0
217 9
1808
191 5
164 1
1130
1053
125 6
1035
157 4
1818
182.7
1850
240.5
210.7
2364
2506
208.8
221 2
1832
194 1
1642
1135
105 3
123 2
104 1
1576
1860
183.5
1859
207.9
224.8
248.7
1738
233.0
251.7
1834
2799
246 6
240.8
212.8
2378
2510
212.3
223 3
1859
1950
1652
113 6
107 0
123 1
1054
158 3
1874
183.8
186 1
218 0
210.0
2556
157.7
4183
2013
377.6
4508
2659
507 2
400.0
2250
211.2
r
2704
159.2
3816
2053
'240 6
'2285
'215.3
'277 1
159.6
3764
2053
2257
2179
217.7
2183
225.0
2398
2438
232.3
2402
216.4
2266
195 5
2483
227 1
2214
222.3
2190
222.5
2395
2335
223.7
2842
162.9
3669
206 7
468.3
4549
2836
619 1
533.4
476.7
455 4
2821
637 1
544.9
2292
2219
223.7
2196
222.3
2428
2528
238 1
232.7
291 6
164.4
327 1
210 7
488.7
457 8
2872
6705
'554.8
174.1
163 2
1893
87.8
175.6
164 5
1924
87.9
177.0
165 2
1943
881
253.6
226 9
4788
3436
308.8
3702
248.5
227 3
447 6
3198
299.0
3555
248.9
227 3
4439
324 8
289.8
3389
219.6
238.8
262.9
184 1
249.1
269.4
191 9
2890
2828
221.0
241.4
264.5
1850
251.4
270.9
192 7
2916
2837
222.9
234.2
268.2
1865
254.6
273.5
195 2
2927
291 2
259.2
226.8
2532
255 0
231.0
243 0
205 7
222 7
1728
124 5
113 1
1325
109 3
1623
197 0
195.1
197 6
2502
2356
229.2
287 2
163.0
3443
2069
257.0
1799
r
241.4
260.8
I860
2868
2623
'216.0
'233.3
'258.5
1812
'243.5
2303
217.9
2789
161.1
3799
2060
454.4
4528
2805
5997
513.6
171.7
162 7
1880
878
250.7
226 2
465 3
330 0
309.7
3738
217.6
236.6
258.5
1827
246.1
'261.8
'188 1
'286 1
'263 1
263.6
191 3
2853
269 3
246.9
216.5
2437
2513
216.6
227 5
193 1
198 9
1684
1185
1086
125 4
1076
160 2
1893
249.5
220.3
2452
2518
218.3
r
2282
1955
r
206 2
1693
1195
109 5
1283
1082
160 3
1899
'249.9
'222.3
'2463
2523
'222.2
'2295
1988
'211 6
1705
1206
'110 6
'128 7
'1090
161 4
1905
252.2
223.8
2486
2549
222.8
230 6
2003
214 6
1713
123 9
111 7
128 7
109 0
161 6
1939
255.6
221.1
2494
2553
227.2
2390
2024
217 9
1719
1256
112 2
129 8
108 7
162 1
1946
257.1
221.1
2505
2562
229.3
242 1
204 3
222 7
1724
124 9
113 0
1306
108 5
1629
1948
187.5
190 1
188.4
1908
185.9
'187 8
186.2
188 1
193.6
196 3
194.4
1970
361.5
447 i
2606
477 4
378.6
168.7
158 7
1827
923
258.9
2120
6422
393 6
304.9
3554
169.6
159 3
1848
924
269.6
216 3
666 9
4294
302.8
3548
209.8
226.4
251.7
1750
235.3
211.4
228.3
253.7
1765
237.6
256.0
183 8
2802
2596
256.2
185 7
2795
258 2
212.4
229.4
254.0
1776
239.1
258.2
185 2
2832
2597
243.4
214.8
2405
2522
215.0
226 3
1888
196 1
1664
115 1
106 8
124 5
1059
1598
1876
245.6
215.7
2416
2488
216.2
2272
190 8
197 3
1672
1174
107 8
124 7
1070
1598
1880
186.8
189 4
187.2
189 8
170.2
1600
1853
268.0
221 1
611 0
414 6
299.8
3548
411.8
r
4525
r
2748
5484
449.8
170.7
161 1
1858
r
902
261.9
r
221 8
5665
385 2
300.1
r
3550
214.8
r
231.2
r
'432.8
'454 2
'2788
'5724
482.8
171.5
'1622
1862
'902
'257.9
'2254
511 9
365 9
'304.7
'3653
2494
Seasonally Adjusted $
All commodities, percent change from previous
month
By stage of processing:
Crude materials for further processing 1967—100..
Intermediate materi' * ~ supplies etc
do
Finished goods #
do
Finished consumer goods
do....
Food
do
Finished goods, exc. foods
do....
Durable
. do
Nondurable
do....
Capital equipment
do....
See footnotes at end of tables.
08
07
13
13
12
12
07
06
15
09
16
14
1^
09
2556
2226
2006
1986
2147
1887
1699
201 1
205.1
2575
224 2
2027
201.0
2173
190.9
1723
203 1
206.4
2634
226 7
2053
2038
2213
193.1
1742
2056
208.5
2722
2292
2076
2063
2253
1948
1757
2074
210.3
2750
231 7
2096
2086
2279
1970
1766
2104
211.5
2739
235 i
211 4
210 1
227 1
1996
1782
2137
214.1
2762
237 5
2123
2110
2238
2067
1799
2175
215.3
2779
2396
2134
2120
2212
2053
180 8
2217
216.5
2825
244 0
2157
2146
2216
2090
182 5
2266
218.2
2831
'246 9
2179
'2179
'224 3
'2125
'1826
'2327
'217.6
2890
2502
2210
2217
228 1
2166
184 0
2382
218.8
2932
2546
2233
2239
2279
2198
186 1
2425
221.4
299 1
2568
2262
2274
233 9
2220
187 6
2452
222.6
3025
2598
2280
229 3
233 6
224 9
190 4
248 3
224.5
S-8
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
SURVEY OF CURRENT BUSINESS
1977
1978
Annual
January 1980
1978
Nov.
1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
COMMODITY PRICES—Continued
PRODUCER PRICES—Continued
(U.S. Department of Labor Indexes)—Continued
Seasonally Adjusted
By durability of product:
Total manufactures
1967=100..
Durable manufactures
do....
Nondurable manufactures
do.
Farm products
do.
Processed foods and feeds
do....
PURCHASING POWER OF THE DOLLAR
As measured by:
Producer prices
fl
1967=$1.00..
Consumer prices iji
do
0.554
0551
0.514
0512
r
211.1
211.8
2094
223 1
210.5
212.7
213.2
2114
2255
212.3
215.4
216.0
2140
2318
215.0
217.9
218.0
2170
2394
219.1
220.1
219.8
219.7
244.3
222.2
222.9
222.5
222.6
245.1
222.8
224.6
223.6
2254
2417
221.5
226.0
224.6
226.4
241.1
218.8
229.1
226.8
2309
242.9
220.7
231.5
227.4
2357
2392
r
220.8
234.9
229.5
2404
2413
225.1
238.6
232.6
2439
2404
225.5
240.7
234.1
2473
2455
229.6
243.0
236.3
2498
2453
229.7
0.499
0495
0.494
0493
0.487
0489
0.482
0483
0.478
0478
0.473
0473
0.471
0467
0.468
0462
0.463
0457
0.460
0452
0.454
0448
0.447
0444
0.443
0 440
0.439
15829 1 7 150 1 9 292 r20 636 r21 309 r21 981 r 21 763 r22 221
12860 1r3 773 1r5 134 1r6 180 1r6 478 1r6 898 1r6 590 1r7 039
6866
9,121
9,457 r9,277 r 9135
7673
8481
9,295
7,447
5,435
7,133
7,589
7,497
5,862
6,453
7,405
20499
16084
8524
6,930
r
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE @
New construction (unadjusted) total
mil $
Private total #
do
Residential
. .
. d o
New housing units
do. ..
Nonresidential buildings, except farm and
public utilities total #
mil $
Industrial
do....
Commercial
.
do
Public utilities:
Telephone and telegraph
do
Public total #
do
Buildings (excluding military) $
do
Housing and redevelopment
do....
Industrial
do
Military facilities
.
do ..
Highways and streets
do
New construction (seasonally adjusted at annual
rates), total
bil. $
Private total #
do
Residential
do .
New housing units
do
Nonresidential buildings, except farm and
public utilities total #
bil $
Industrial
...
do
Commercial
do....
Public utilities:
Telephone and telegraph
do
Public, total #
do....
Buildings (excluding military) #
do....
Housing and redevelopment
do
Industrial
do....
Military facilities
do
Highways and streets
do ...
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F.W. Dodge
Division, McGraw-Hill):
Valuation total
.. mil. $
Index (mo data seas adj ) $$
1972—100
Public ownership
•
. mil $
Private ownership
do....
By type of building:
Nonresidential
do
Residential
do....
Non-building construction
do....
New construction planning
(Engineering News-Record) §
do....
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
thous..
Inside SMSA's
do
Privately owned
.
do
One-family structures
do....
Seasonally adjusted at annual rates:
Total privately owned @ @
do
One-family structures @ @
.
do....
New private housing units authorized by building
permits (16,000 permit-issuing places):
Monthly data are seas. adj. at annual rates:
Total
thous..
One-family structures .
do ...
Manufacturers' shipments of mobile homes
(Manufacfactured Housing Institute):
Unadjusted
. . .
. .thous
Seasonally adiusted at annual rates
do....
See footnotes at end of table!
174 000
135 826
80*956
65749
206 224
160 403
93425
75,808
19 191
14910
8470
7096
17 153
13648
7315
5,978
14008
11 188
6 102
4,857
13 440
10918
5869
4,675
28695
7712
14783
36293
10,994
18565
3552
1 111
1824
3368
1 152
1654
2811
933
1397
2793
958
1361
3328
1,192
1586
3423
1,145
1699
3715
1,209
1918
3,986
1,247
2,116
4345
38 174
12799
908
1070
1429
9380
5418
45821
15235
1,053
1 183
1,498
10709
502
4281
1366
129
96
132
1055
504
3506
1219
104
98
135
690
375
2820
1 164
78
96
123
368
352
2522
1011
85
91
84
307
483
2968
1 155
92
108
160
396
453
3377
1 199
87
115
102
622
529
4 159
1332
103
130
138
996
558
4456
1372
100
128
149
1 118
220.0
170.7
97.5
789
223.2
173.8
99.7
807
212.3
165.9
93.7
736
210.9
169.3
97.8
772
216.7
172.7
96.5
759
402
12.9
20.4
408
13.5
20.5
392
12.7
19.8
389
13.4
19.0
433
15.2
21.0
426
14.0
21.5
452
14.5
23.6
468
14.7
24.8
478
15.5
24.8
56
49.3
15.9
14
1.2
16
11.6
61
49.4
15.9
15
1.1
16
12.1
59
46.4
15.5
12
1.2
16
10.1
54
41.6
14.2
12
1.1
11
8.9
57
44.0
15.3
12
1.5
2.0
8.9
56
44.5
15.2
1.1
1.3
1.3
9.9
61
48.4
15.7
12
1.5
1.5
11.7
61
46.0
15.5
1.1
1.4
1.8
10.3
65
51.0
16.4
1.4
1.6
1.5
11.2
158 438 1 1 635
»174
173
38827 r 2866
119,610 r8,769
10185
184
2978
7,207
10716
181
2984
7,732
14,166
231
6,595
7,571
13,947
186
3878
10,069
15,396
202
3,508
11,888
16,425
178
4,947
11,478
15,645
177
4,448
11,197
14,715
165
4,096
10,619
14,472
163
3,751
10,721
139 723
1154
36917
102,805
r
216.4
171.9
r
95.7
760
r
223.4
175.0
r
95.2
757
r
224.3
178.3
r
96.9
111
4,272
1,236
2358
4 172
1,344
2187
r
541
4831
1460
121
124
134
1305
r
231.1
180.1
r
97.0
111
r
628
5083
1430
103
130
153
1481
4256
1,232
2359
548
5 173
1547
103
158
157
1450
r
4563
1,337
2521
4349
1,259
2378
674
5 182
1404
111
101
138
1 694
r
r
r
4415
1356
113
101
148
1046
r
r
r
238.5
185.6
r
99.2
r
783
235.3
184.1
98.3
77.0
r
495
15.0
26.7
49 1
14.7
26.6
70
52.9
15.5
1.2
1.2
1.9
14.5
51.2
16.2
1.2
1.3
1.7
11.5
13,279
185
3,607
9,673
14,188
171
3,807
10,381
10,751
156
3,091
7,659
230.3
180.6
r
97.5
783
232.6
181.6
r
99.0
79 1
47 1
13.8
25.9
68
49.7
15.4
1.1
1.6
1.9
11.5
r
467
13.7
25.7
65
50.9
17.0
1.0
1.9
1.7
12.3
r
r
35086
62,017
42620
44373
74,531
39,534
r
3622
r
5,973
r
2040
3096
4,781
2,308
3952
4,468
2296
3412
4,632
6,122
4227
6,870
2,850
4,260
5,969
5,167
4,553
8,076
3,796
5,056
7,277
3,313
4,510
7,008
3,198
4,515
7,069
2,889
4,471
6,248
2,560
4,869
6,864
2,455
3,849
4,717
2,185
91,702
112,069
13209
14,269
9,936
11,752
13,750
11,070
14,357
9,258
7,507
10,343
8,007
10,823
14,972
1,989.8
13779
1 987.1
1,450.9
2,023.3
2
8332
2 020.3
1,433.3
158.6
121.4
88.4
84.7
153.3
161.3
189.1
192.0
165.0
171.4
163.8
169.0
119.2
89.2
158.6
110.4
1195
81.4
88.2
57.5
84.5
59.3
152.9
109.8
161.0
121.2
189.1
131.2
191.8
134.5
164.2
117.8
170.3
119.4
163.7
105.7
169.0
107.9
118.7
r
72.4
89.0
56.6
2107
1,502
2074
1,539
1679
1139
1381
953
1786
1,266
1,745
1,278
1,835
1,226
1,923
1,288
1,788
1,220
1,793
1,239
1,921
1,254
1,764
1,159
1,522
r
985
1,527
1,071
1,204
768
3
1,690
3
1 126
1,800
1,183
1,789
1 172
1,827
1,268
1,451
929
1,425
881
1,621
1,056
1,517
1,036
1,618
1,047
1,639
1,012
1,528
1,001
1,654
1,030
1,775
1,015
1,542
927
1,263
751
277.0
2756
22.2
280
170
303
19.1
311
18.6
272
23.4
270
24.6
273
27.6
271
26.1
279
22.4
282
28.9
277
23.6
268
27.2
293
19.8
257
13,222
SURVEY OF CURRENT BUSINESS
January 1980
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1979
1978
1978
Nov.
Annual
S-9
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES
1850
1866
1880
1922
1565
1757
1899
1910
Dept of Commerce composite
.. . 1972—100
American Appraisal Co., The:
2,249
Average 30 cities
1913—100..
1,998
2 173
2254
2264
2287
2,291
2268
2431
2446
Atlanta
do
2 141
2322
2388
2379
2430
2446
2297
2331
2360
New York
do.
2065
2222
2324
2353
2359
2427
San Francisco
do
2063
2263
2336
2332
2377
2428
2372
St Louis
do
1905
2 121
2 154
2 161
2 173
2071
2 157
2 173
Boeckh indexes:
Average, 20 cities: @
Apartments, hotels, office buildings 1972—100..
164.9
148.6
158.2
163.8
165.8
Commercial and factory buildings
do....
152.8
170.9
172.2
173.2
164.3
Residences
do....
148.5
171.6
161.8
170.8
172.0
Engineering News-Record:
Building.
. .
1967-100
2575
2286
2477
2567
2563
2576
2590 r 2592
Construction
do....
240.0
258.4
2670
266.4
267.4
267.9
268.7
268.8
Federal Highway Adm. —Highway construction:
Composite (avg. for year or qtr.)
1967=100..
264.9
216.4
302.7
277.2
CONSTRUCTION MATERIALS
Output index:
Composite, unadjusted #
1947-49-100..
180.4
Seasonally adjusted
..
do
Iron and steel products unadjusted . . do
1473
1628
1586
1588
1526
1484
1413
1806
Lumber and wood products, unadjusted .... do....
199.8
185.7
196.6
193.4
1818
1799
2052
1978
Portland cement unadjusted ..
do
2087
2264
995
214 4
2252
1732
111 5
1939
REAL ESTATE U
Mortgage applications for new home construction:
FHA net applications
thous. units..
113.3
118.8
11.1
80
12.7
122
9.4
83
Seasonally adjusted annual rates
do
144
143
140
126
145
115
Requests for VA appraisals
do
2118
1927
155
157
214
188
132
146
Seasonally adjusted annual rates
do ...
207
238
199
217
194
222
Home mortgages insured or guaranteed by:
Fed Hous Adm * Face amount
mil $ 8 840 84 11 139 97 90502 56536 1 420 67 1 422 09 1 467 69 1 045 24
Vet Adm.: Face amount §
do 13 753 02 14 470 40 1 115 62 1 176 51 141891 1 367 36 1 415 68 1 074 90
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $..
20,173
32,670 30,975 32,670 32,489 31,738 31,881 33,149
New mortgage loans of all savings and loan
associations estimated total .
mil $
107 368 110294
9 165
8648
6678
5691
7706
8 426
By purpose of loan:
Home construction
.. .
do
20717
22495
1794
1420
1272
1702
1877
1 692
Home purchase
do .
66,060
68380
5775
3*960
4619
5 117
3322
5279
All other purposes
do
20591
19419
1596
1 617
1298
1385
1 492
1 097
2
Fire losses (on bldgs., contents, etc.)
mil. $..
3,764
311
3.689
1964
1978
1997
2325
2467
2375
2449
2235
2,355
2477
2386
2460
2251
2,377
2483
2446
2500
2255
2026
r
2,401
2522
2,488
2535
2285
2675
277.6
2704
283.9
1754
191.7
2879
15.2
140
195
205
11.6
130
194
217
r
2060
2059
2,442
2626
2,498
2634
2,302
2,440
2617
2,546
2631
2303
2739
286.0
r
281 1
290.4
281 1
290.6
2815
291.6
12.3
133
196
210
100
130
142
190
211
237
229
174
198
241
269
263
209
214
254
277
283
220
228
256
293
273
220
219
19768
686
177.1
371
2010
1503
133 3
1128
55.0
33.7
1943
8130
23742
86 1
227.7
463
2194
1869
1933
1488
58.4
37.4
2047
9652
2635
95
26.0
44
216
246
22 8
18 1
5.8
4.0
182
1085
56961
144.5
1.522.5
1474
752.3
3 1295
66437
151.0
18845
201 7
826.6
35799
642,104
285,605
356,498
68,555
43,676
24,879
r
r
115
130
200
231
r
13.4
148
214
215
11.3
144
184
244
33,802
35,071
36,188
36,922
38,596
40,398
40,884
10400
10937
9398
9943
8532
r
9626
7438
2 153
6546
1 701
2 132
7055
1 750
1 896
5987
1 515
1947
6460
1 536
1701
5371
1 460
1844
1472
4687
1 279
r
e'ioo
1 682
r
r
r
r
r
r
r
289
r
217
r
r
r
r
r
r
r
271
288
308
239
246
288
322
287
258
275
282
342
270
234
264
278
328
312
221
232
1882
36
17.2
23
19 1
178
12 2
57
5.0
2.8
199
826
2135
79
21.5
33
223
162
16 2
94
5.8
4.1
195
872
2506
112
25.0
48
254
152
19 8
135
6.0
36
228
103 3
2446
75
22.3
46
273
155
190
150
6.3
3.4
215
102 1
2166
51
18.0
38
260
179
22 2
104
5.5
3.8
224
812
175 1
47
15.7
28
193
153
18 2
72
3.7
2.3
232
627
1672
60
11.7
27
227
129
13 0
65
4.6
2.2
227
62 1
2344
12 3
7.9
57
26.6
144
17 1
130
7.1
2.2
28 1
1000
2779
10 5
22.6
71
23.1
197
25 0
149
7.6
2.5
278
1170
3033
10 3
28.4
55
24.3
277
27 6
182
8.5
3.8
288
1202
5320
15.4
1660
213
729
2565
5494
15.4
165 1
14 6
760
2784
6396
18.2
1932
207
834
3242
6844
19.6
2034
234
869
351 1
6822
18.2
1944
18 6
887
3624
641 1
18.0
1910
215
833
3273
6000
17.2
1967
252
638
297 1
5646
14.4
187 1
118
574
2940
5957
13.3
1942
157
72.3
3002
6128
14.3
1868
194
76.2
3160
753 1
18.0
1762
226
1018
4345
64,527
29,340
35,187
63,739
28,284
35,455
61,721
28,141
33,580
74,319
34,689
39,630
70,768
33,429
37,339
76,814
35,723
41,091
74,361
34,447
39,914
73,537
33,750
39,787
C
78,567
C
37,048
C
C
73,213
C
33,616
C
r
81,820
r
37,935
r
43,885
78,531
34,313
44,218
80,922
51646
29,276
81,896
51860
30,036
83,917
53807
30,110
85,436
54381
31,055
85,345
54731
30,614
85,199
55566
29,633
84,942
55523
29,419
86,829
56602
30,227
C
86,890
C
56 803
C
C
87,061
C
56 361
C
'88,839
r
56 620
r
32,219
89,312
55945
33,367
2078
64
16.1
27
198
164
29 3
90
4.8
30
167
834
1536
54
12.9
19
136
99
107
72
C
3.9
27
157
697
6648
14.5
155.6
r
200
*91.1
r
3837
5900
9.1
1286
199
637
3687
754,105
349,916
404,189
67,700
31,038
36,662
80,922
51646
29,276
80,100
50971
29,129
r
r
255
280
59
92
130
232
1 453 98 1 530 82 1 521 04 1 578 30 1 641 58 1 993 88 1 807 96 1 283 52
1 082 49 1 096 35 1 423 50 1 695 20 1 910 07 1 099 57 1 390 96 1 530 52
230
227
241
'263
295
r
283
224
240
6
292.4
1703
1797
2709
264
292
292
222
244
257
279
r
277
r
rl
282
rl
328.8
DOMESTIC TRADE
ADVERTISING
McCann-Erickson national advertising index,
seasonally adjusted:
Combined index
1967= 100..
Network TV
do ...
Spot TV .
do
Magazines
do ..
Newspapers ... .
do
Magazine advertising (general and natl. farm
magazines):
Cost total
mil $
Apparel and accessories
do
Automotive, incl. accessories
do....
Building materials
do. .
Drugs and toiletries
do
Foods soft drinks confectionery
do
Beer wine liquors
do
Houshold equip., supplies furnishings ... do
Industrial materials
do....
Soaps, cleansers, etc
do....
Smoking materials
do .
All other
do
Newspaper advertising expenditures (64 cities): $
Total
..
.
mil $
Automotive
do....
Classified
do .
Financial
.
do
General
do....
Retail . . . .
...
do
WHOLESALE TRADE
Merchant wholesalers sales (unadj.), total
mil. $..
Durable goods establishments
do....
Nondurable goods establishments
do....
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total
mil. $..
Durable goods establishments
do....
Nondurable goods establishments
do....
See footnotes at end of tables.
2425
2600
2534
2612
2289
176.9
185.9
182.2
174.0
182.9
180.8
294.9
1976
2043
2670
2038
2,410
2532
2494
2545
2292
172.3
181.5
179.2
169.3
178.3
173.9
2599
269.2
r
266
301
295
227
231
272
299
277
239
268
41,519
30,087
39,597
30,700
41,838
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
January 1980
1978
1978
Annual
Nov.
1979
Dec.
Jan.
Feb.
Mar.
Apr.
Nov.
May
June
July
Aug.
Sept.
74,781
27,236
74,813
26,622
72,075
25,366
77,801
27,616
72,630 '76,389 '78,658 '92,067
24,785 r26,355 '25,138 '26,928
4,531
3077
734
13508
12,118
1390
3,549
2,134
C
1087
47845
8,575
6886
652
16,181
14970
6,547
3,368
570
1304
649
6,482
2211
1,284
400
76,929
26,972
Oct.
Dec.
DOMESTIC TRADE—Continued
RETAIL TRADE
All retail stores: t
Estimated sales (unadj.), total t
mil. $..
Durable goods stores #
do....
Building materials, hardware, garden supply,
and mobile home dealers $
mil. $ .
Building materials and supply stores do
Hardware stores
do
Automotive dealers #
do .
Motor vehicle dealers
do....
Auto and home supply stores
do .
Furniture, home furn., and equip #
do....
Furniture, home furnishings stores
do....
Household appliance radio TV
do
Nondurable goods stores
do
General merch. group stores
do....
Department stores
do
Variety stores
do....
Food stores
do....
Grocery stores
do
Gasoline service stations
do....
Apparel and accessory stores #
do....
Men's and boys' clothing
do
Women's clothing spec stores furriers do
Shoe stores
do....
Eating and drinking places
do....
Drug and proprietary stores
do
Liquor stores
.
do. .
Mail-order houses (dept. store mdse.) § .. do....
Estimated sales (seas, adj.), total t
do....
Durable goods stores #
do....
Building materials, hardware, garden supply,
and mobile home dealers 4£ . mil. $..
Building materials and supply stores do
Hardware stores
do.
Automotive dealers
do.
Motor vehicle dealers . ..
. . do....
Auto and home supply stores
do
Furniture home furn and equip #
do
Furniture home furnishings stores
do.
Household appliance radio TV
do
Nondurable goods stores
do....
General merch group stores
do.
Department stores
do....
Variety stores
do
Food stores
do
Grocery stores.
do.
Gasoline service stations
do....
Apparel and accessory stores $
do
Men's and boys' clothing
do
Women's clothing spec stores furriers do
Shoe stores
do....
Eating and drinking places
do....
Drug and proprietary stores
do
Liquor stores
do
Mail-order houses (dept. store mdse.) § .. do....
Estimated inventories, end of year or month: t
Book value (unadjusted) total
mil $
Durable goods stores #
do....
Building materials and supply stores do. ..
Automotive dealers
do
Furniture, home furn. and equip
do....
Nondurable goods stores #
do
General merch. group stores
do....
Department stores
do
Food stores
do
Apparel and accessory stores . . .. do....
Book value (seas adj ) total
do
Durable goods stores #
do
Building materials and supply stores do
Automotive dealers
do
Furniture home furn and equip
do
Nondurable goods stores •$
do
General merch group stores
do
Department stores .
do .
Food stores
do
Apparel and accessory stores
do
Firms with 11 or more stores:
Estimated sales (unadjusted) total
mil $
Durable goods stores
do....
Auto and home supply stores
do
Nondurable goods stores #
do
General merchandise group stores
do....
Department stores
do....
Variety stores
do
Miscellaneous general stores
do....
See footnotes at end of tables.
70,540
25,649
724,020
247,832
798,818
277,916
71,297
24,463
84,597
25,872
61,878
21,100
60,653
21,131
71,998
26,071
38641
26509
6516
148 444
135,777
12667
34,761
20,792
10801
476 188
90,133
72333
7,602
158,519
147 142
58,231
34,341
7052
13 106
5852
63,556
22918
12832
6,705
44125
29991
6881
163 668
149,664
13993
37,430
22,719
10991
520 902
99,505
79732
7809
174,458
161 527
60,884
37828
7353
14660
6593
70,083
25337
13616
7073
3918
2699
632
13 160
12,322
1288
3,566
2,197
1034
46834
9883
7908
712
14834
13695
5,197
3675
763
1396
617
5,775
2164
1 196
902
70,158
24,954
3560
2263
749
12452
11,169
1283
4,216
2,290
1359
58725
15784
12635
1273
16690
15243
5,318
5698
1293
2 144
823
6,141
3040
1675
722
70,918
25,163
2873
1925
496
12805
11,703
1 102
2,959
1,833
851
40778
5,946
4747
476
14,944
13769
5,059
2689
561
996
478
5,389
2 139
1061
439
70,855
25,250
2708
1790
452
13 100
12,084
1016
2,882
1,796
842
39522
5,925
4700
483
14,215
13024
4,898
2,416
462
948
402
5,339
2058
1,034
374
71,122
25,035
4,083
3,733
2580
2427
711
645
16207 15552
14,920 14,208
1287
1344
3,318
3,149
2,105
2,015
941
883
46 127 44891
7,881
8,137
6304
6511
662
614
16,238 15,132
14937 13811
5,606
5,483
3,267
3,154
564
582
1252
1236
560
582
6,373
6,232
2223
2222
1 146 1,110
404
459
72,045 71,366
25,450 24,614
4,817
4,707
2947
3 148
809
798
16015 15,049
14,625 13,600
1,449
1390
3,559
3,374
2,203
2,144
1085
978
47545 48 191
8,685
8,503
6810
6946
674
669
16,330 17,051
15022 15745
6,294
6,070
3,174
3,204
615
586
1250
1202
587
568
6,655
6,472
2282
2308
1 197 1,320
347
386
71,914 71,803
24,731 24,316
4,610
3142
729
14247
12,855
1392
3,534
2,182
1070
46709
7,984
6396
626
16,256
14963
6,377
3,015
553
1 163
525
6,681
2267
1,346
369
72,370
24,471
4,991
3374
773
15564
14,069
1495
3,842
2,374
1 143
50 185
8,984
7 180
709
16,836
15585
6,847
3,628
612
1353
667
7,006
2360
1,354
427
74,794
25,940
'4,830
'3318
'759
14 589
13,066
'1523
'3,728
'2,274
1 126
'50 034
'9,218
'7386
'703
16,349
1 5 106
'6,843
'3,555
'625
1390
'679
'6,502
'2335
1,270
556
'75,611
'25,468
'4,242
2890
745
'13,193
11,693
1,500
'3,897
2,390
1 143
'53 520
11,357
'9064
808
16,836
'15,580
'6,813
'3,886
722
1508
672
'6,351
'2406
1,346
656
'76,175
'25,248
3971
2667
621
14431
13 179
1252
3303
2003
975
45,204
8549
6,806
663
15 125
13960
5,276
3388
685
1287
590
6,003
2240
1 181
598
4009
2727
631
14558
13296
1262
3307
2014
956
45,755
8716
6,897
649
15284
13984
5,292
3376
675
1313
586
6,184
2232
1 194
'604
3956
2577
667
15011
13,736
1275
3337
2067
3,676
2380
608
14932
13,654
1278
3333
2062
996
46,087
8378
6,708
660
15639
14357
5,566
3214
626
1234
533
6,274
2257
1235
482
4,045
3,946
2580
2599
711
701
14972 14,253
13,688 12,975
1284
1278
3359
3321
2,107
2,065
965
979
46,595 46,752
8,627
8626
6,943
6,905
660
704
15635 15881
14,349 14,553
5,561
5,715
3292
3440
646
594
1316
1326
628
573
6,563
6,372
2234
2288
1 197 1221
443
424
4,087
4,175
2769
2699
711
700
14,107 13,363
12,784 12,025
1,338
1323
3545
3391
2,160
2,110
1082
1005
47,183 47,487
8,902
8,655
6,921
7,131
693
702
15948 16274
14,699 15,024
6,040
5,905
3373
3,341
628
627
1,277
1 305
598
605
6,139
6,071
2,296
2315
1268
1213
439
424
4,196
2803
696
13,396
12,059
1337
3610
2,209
1091
47,899
8,854
7,162
683
16262
14,993
5,910
3,479
650
1,329
606
6,232
2,364
1306
421
4,408
4,383 '4,402
2867
2868 '2888
764
748
'726
14,578 15,382 14,022
13,173 13,945 12,563
1437 1459
1405
3751
3724 '3678
2,257
2,270 '2,225
1 149 1 121 1 123
48,854 49,957 '50,143
9,103
9,280 '9,307
7,297
7,380 '7,416
711
740
'726
16063 16690 1 6 669
14,843 15,417 15,430
6,453
6,606 '6,769
3,603
3,501 '3476
666
669
'650
1,361
1,305 1298
623
620
'655
6,283
6,386 '6,489
2,367
2,393 '2,388
1322
1360 1292
431
442
417
'4,283
2833
726
14,021
12,587
1434
'3,585
2,171
1073
'50,927
'9,576
'7,630
744
1 6 827
15,533
'6,889
'3458
602
1,356
610
'6,588
'2,463
1309
421
88148
43,170
7187
21875
6,808
44978
15,895
11932
9558
7,149
90 120
43414
7494
21594
6808
46706
17376
13,026
9426
7478
(2)
(2)
45,605
8402
6,791
685
15659
14358
5,353
3273
635
1228
580
6,041
2278
1225
604
98527 105 330 98527 98759 99595 103 197 104 690 105 954 106 620 107 719 106 288
47,888 47,798 47,888 49,125 49,755 51,100 52,078 53,245 53,506 53,756 50,867
8,415
8,490
8528
8,509
8,471
8,438
8 115
8,225
7792
7910
7792
25011 23396 25011 25736 26 141 27024 27803 28933 28941 29 145 25966
7,530
7,402
7,473
7,455
7,531
7,645
7,133
7,441
7,133
7,141
7,190
50639 57532 50639 49634 49840 52097 52612 52709 53114 53963 55421
17,926 22,452 17,926 17,660 18,094 19,334 19,599 19,818 19,933 20,175 20,957
13638 17 113 13638 13376 13654 14626 14831 15002 14,975 15,071 15,655
10734 11008 10734 10655 10588 10948 11008 10834 10772 10888 10925
8,307
8,377
8,350
8,498
8,886
7,957
9271
7957
7,536
7,771
8,221
100 818 C100 483 100 818 101 739 101 175 102 226 103 379 105 162 106 382 108 691 109 092
48 161 47555 48161 49302 49367 49583 50,526 51,805 52,518 53,753 53,667
8400
8479
8532
8332
8217
8154
8203
8264
8 125
8047
8 125
24690 23849 24690 25281 25330 25518 26379 27634 27,989 29,000 28,628
7 140
7560
7630
7707
7287
7367
7492
7488
7485
7 140
7 176
52657 52928 52657 52437 51808 52643 52853 53357 53864 54938 55425
19622 19877 19622 19629 19448 19773 19622 19881 20155 20476 20706
14,905 14933 14905 14895 14745 14,924 14,772 14,972 15,172 15,457 15,608
10596 10595 10596 10795 10738 10981 11041 10856 10772 11031 11 125
8,635
8,645
8618
8,763
8332
8413
8 147
8 154
8389
8451
8332
270 279
20,546
3146
249 733
88,176
75308
6332
6.536
25261
1,950
287
23311
8,798
7455
596
747
33515
2,562
286
30953
14,095
11884
1088
1.123
19863
1,350
228
18513
5,219
4,438
388
366
19 144
1,299
221
17845
5,230
4,454
396
380
23372
1,679
269
21693
6,955
5,971
510
474
22795
1,722
288
21073
7,190
6,164
540
486
24 173
1,925
293
22248
7,665
6,569
551
545
24331
1,943
301
22,388
7,530
6,450
551
529
23 151
1,872
283
21,279
7,069
6,064
509
496
25219
1,942
295
23,277
7,935
6,807
572
556
r
!06
r
756
49,475
8,438
r
24
150
r
7,850
r
57 281
21,967
16,383
11087
r
9,215
r
!07
524
r
51,834
8497
r
26,715
r
7780
r
55 690
20927
15,723
11 188
8,639
r
24 115
1,843
268
r
22,272
r
7,575
'6,517
519
539
112 140
51,263
8,416
25528
7,836
60877
23,390
17,445
11718
9,680
108 969
52,081
8510
27,042
7549
56888
21009
15,604
11466
8,808
25442
1,995
306
23447
8,157
6990
557
610
'3,905
12317
'4,426
'65 139
17,087
13523
18,318
16812
'6,883
'6,201
'6,613
'3327
'77,020
'25,658
'4,315
14,256
'3488
'51,362
'9,418
'7,426
1 7 192
15,920
'6,842
'3,650
'6,680
'2,450
S-ll
SURVEY OF CURRENT BUSINESS
January 1980
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
1979
1978
Annual
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
Firms with 11 or more stores—Continued
Estimated sales (unadjusted)—Continued
Nondurable goods stores—Continued
Food stores .
Grocery stores
mil $
do....
Apparel and accessory stores #
Women's clothing, specialty stores,
furriers
Family clothing stores
Shoe stores
do....
92737
91700
13091
mil. $..
do
do. .
do..
do....
Eating places
Drug stores and proprietary stores
Estimated sales (sea adj ) total 4£
Auto and home supply stores
Department stores
Variety stores
Grocery stores
Apparel and accessory stores
Women's clothing spec stores furriers
Shoe stores
Drug stores and proprietary stores
.
Charge accounts
Installment accounts
8985
8864
2,004
5520
3029
3 129
539
294
298
846
492
408
13758
11,971
1 184
1,038
1211
1,630
8026
7945
7579
7485
8706
8609
7929
7820
8530
8437
8924
8,828
8360
8263
8749
8,649
r
8460
r
804
751
1,088
1 167
1084
1,082
986
1,293
1175
463
231
286
489
244
315
470
244
262
463
243
261
438
222
229
r
487
r
263
r
1303
1,063
1247
1079
1312
1,103
1323
1,102
535
302
321
1381
1,138
24 211
264
6548
576
8521
24 362
272
6 723
564
8440
24833
275
6869
581
8389
1247
502
300
1 148
8364
8581
8481
1222
515
275
304
1308
1,119
do
do
do
do
do....
23566
276
6 443
548
7846
24 028
278
6526
541
8058
325
179
211
1054
1007
23 414
'276
6309
576
8233
do....
do
do...
do
1 164
486
279
1 105
1 151
487
268
1 055
1097
453
272
1 118
1098
474
261
1 104
1200
516
305
1 077
1 122
498
263
1 130
1 135
488
280
1 141
1 135
497
278
1 104
1 186
509
288
1 154
34708
10276
24432
10955
23753
34 894
10612
24282
35357
10958
24399
35372
11073
24299
35272
11 253
24019
35806 r36 136
11 340 1 1 353
24466 r24 783
36985
11 553
25432
11 124
23770
11357
24000
11 441
23,913
11299
23973
11439 1 1 652
24367 r24 484
12 169
24,816
All retail stores, accts, receivable, end of yr. or mo.:
Total (unadjusted)
mil $
Durable goods stores
do
Nondurable goods stores
... . d o
Charge accounts
..
do
Installment accounts
do....
Total (seasonally adjusted)
Durable goods stores .
Nondurable goods stores
7929
7846
1284
323
166
185
1034
967
23 283
275
6 381
548
8 162
23607
274
6576
540
8,145
23774
266
6523
579
8310
1314
1 124
24306
279
6786
576
8395
34 149
10089
24060
37316
10903
26413
34621
10 818
23803
37316
10 903
26*413
35941
10 538
25403
34985
10 146
24839
10659
23490
11599
25717
11599
25717
11017
24924
10781
24204
34,843
10823
24,020
35294
10991
24303
35289
10672
24617
35220
10675
24,545
35347
10747
24600
35446
10864
24582
35555
10783
24772
11 331
23512
11 315
23979
11 170
24 119
11 050
24 170
10989
24358
10 919
24527
11 174
24381
..
do....
do
do....
32,018
10019
21,999
34,843
10823
24,020
11 138
23483
34423
10761
23662
.
do
do
10 490
21528
11 331
23512
11 129
23294
36 103
11 081
25022
11 519
24584
36558
11 140
25418
11 790
24768
22058
22078
305
r
1279
1,076
25 460
284
r
6992
'588
r
8640
25369
289
7032
'578
8575
1r 165
473
r
287
1 181
1 189
487
302
1 173
r
36 710
1 1 062
25 648
37284
11227
26,057
1
1 872
F
24 838
12 181
25 103
22099
221 18
r
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total incl. armed forces overseas $
..
mil
22136
'216 88
'218 72
99,534
97401
90546
3244
87,302
6855
102,537 103,776 103,740 102 961 103 343 103,755 103 318 103 551 106 229 107,077 106,453 105,465 106,032 105,811 105,973
100 420 101 659 101 632 100 867 101 249 101 665 101 236 101 473 104 153 104 995 104 363 103 375 103 939 103 719 103 884
94373 96029 95 906 94 436 94 765 95 501 95 675 96 220 97 917 98891 98226 97576 98 158 97943 98047
2995
3257
3545
3795
3342
3467
3857
3785
3309
2925
3074
2990
2762
3 100
2796
91,031 92,929 92,916 91,673 91,969 92,576 92,601 92,911 94,132 95,034 94,431 94,030 94,691 94,686 95,052
5836
5776
6 137
5798
6235
6 165
6047
5629
5781
6 104
5561
5725
6431
6 484
5253
1,911
128 103 494 103
595 103 652 103 999
476 103 093 103
198 102 398 102
061 102
101
610 101 815 102
379 102 505 102
r
004 r97
608 97912
474 r97
504 r97
652 r97
184 r97
495 r96
831 r96
157 r96
623 r96 254 r96
95
728 r95
496 r96
r
r
r
r
r
r
r
r
r
r
r
r
3359
3385
3
364
3315
3
243
3
246
3
294
3267
3
320
'3
215
3375
3
260
3
240
3
307
r
r
r
r
r
r
r
r
r
r
r
r
r
94553
94'223
94
140
93
689
93
409
93
917
94 180
92 488 92 456 92 897 93 189 93 303 93 039 93 249
r
r
r
r
r
r
r
r
r
r
r
r
6087
6044
6 124
5903
6 121
5990
5824
5909
5904
5882 '5944
5883
5984
5882
1,230
1,191
1,195
1,185
1,152
1,152
1,067
1,212
1,291
1,223
1,217
1,379
1,201
1,229
1,239
21941
21955
21970
21984
21995
220 10
22025
22042
LABOR FORCE
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
Nonagricultural industries
do....
Unemployed .. .
do
Seasonally Adjusted
Civilian labor force
do
Employed total
do .
Agriculture
do
Nonagricultural industries
do
Unemployed
..
do
Long-term, 15 weeks and over
do....
Rates (unemployed in each group as percent
of total in the group):
All civilian workers
Men 20 years and over
Women 20 years and over
Both sexes, 16— 19 years
White
Black and other
Married men, wife present
Occupation:
White-collar workers
Blue-collar workers
Industry of last job (nonagricultural):
Private wage and salary workers
Construction ..
...
Manufacturing
Durable goods
EMPLOYMENT t
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seasonal variation ....thous..
Private sector (excl. government)
do....
r
70
52
70
17.7
60
42
60
16.3
58
39
58
16.2
62
13.1
36
52
11.9
28
50
11.7
24
4.3
81
3.5
69
r
r
33
64
59
1
58
16.4
r
51
11.4
r
26
r
4
r
r
35
67
r
58
40
57
16.0
r
5.0
11.3
r
26
r
3.4
r
65
57
39
57
160
49
11.8
r
26
r
r
34
65
57
40
57
157
5.0
11.3
r
26
r
33
r
66
r
58
40
57
163
r
5.0
11.7
27
r
33
69
58
39
57
16.5
5.0
11.5
2.5
r
3.2
6.8
r
r
57
'4
0
r
57
154
4.9
11.2
r
27
r
3.4
66
57
4i
55
158
r
5.0
11.0
r
28
r
33
68
r
r
59
r
42
r
59
42
59
166
5.3
11.0
r
29
58
42
55
16.2
5.1
10.8
r
29
r
35
r
3.3
71
r
34
r
5.8
r
5.9
r
99
r
6.0
r
73
57
164
r
5.1
11.5
29
72
58
43
56
15.9
r
5.1
10.9
29
r
r
59
42
57
16.0
5.1
11.3
2.8
3.2
75
3.3
7.2
'5.8
102
5.9
r
5.6
5.8
10.3
5.9
5.5
7.0
127
6.7
6.2
5.9
106
5.5
4.9
'5.6
1r0 5
5.1
r
46
'5.8
1r1 4
5.1
44
5.7
1r0 3
5.1
44
'5.6
1r0 9
49
r
42
r
5.6
10 1
5.2
r
4.4
5.7
1r0 5
5.3
r
4.7
5.7
10.0
5.4
4.4
5.6
1r0 0
5.4
r
4.9
5.7
1r0 0
5.7
r
54
r
6.0
10
1
r
5.9
r
5.4
82,423
67,344
86,446
70,970
88,622
72,919
88,893
73,206
87,128
71,628
87,331
71,613
88,207
72,408
88,820
72,995
89,671
73,813
90,541
74,778
89,618
74,598
89,673
74,742
r
90,211 r'90,678 90,908 "91,179
72,919 74,9l5 '75,992 "71,179
82,423
67,344
47662
24339
813
3.851
86,446
70,970
50,494
25586
851
4.271
87,840
72,368
51596
26r 120
919
4.429
88,133
72,661
51780
26272
922
4.469
88,433
72,956
51,998
26382
927
4.497
88,700
73,205
52,180
26448
937
4.486
89,039
73,529
52,456
26627
940
4.614
89,036
73,472
52,406
26565
940
4.559
89,398
73,800
52,741
26651
944
4.648
89,626
73,989
52,926
26674
949
4.662
89,713
74,078
52,999
26723
956
4.688
89,762
74,063
53,106
26599
968
4.674
89,803
74,130
53,181
26593
973
4.671
r
96
r
6.0
5.3
5.5
Seasonally Adjusted t
Total employees, nonagricultural payrolls
Private sector (excl. government)
Nonmanufacturing industries
Goods-producing
Mining
Construction
See footnotes at end of tables.
do....
do....
do....
do
do ..
do....
r
89,982
r
74,308
r
53,409
r
26r 572
979
r
'90,109 "90,420
"74,685
"53,731
26,542 "26 712
"999
'984
4.694 '4,712 "4.759
r
74,427
r
53,581
r
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
hi the 1977 edition of BUSINESS STATISTICS
1977
1978
Annual
January 1980
1978
Nov.
1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT t—Continued
Seasonally Adjusted t
Employees on nonag. payrolls—Continued
Goods-producing—Continued
Manufacturing
thous..
Durable goods
do...
Lumber and wood products
do....
Furniture and fixtures
do. .
Stone, clay and glass products
do....
Primary metal industries
do....
Fabricated metal products §
do....
Machinery, except electrical
do....
Electric and electronic equipment @.... do....
Transportation equipment §
do....
Instruments and related products
do....
Miscellaneous manufacturing
do....
Nondurable goods
do....
Food and kindred products
do....
Tobacco manufactures
do....
Textile mill products
do
Apparel and other textile products
do....
Paper and allied products
do....
Printing and publishing
do....
Chemicals and allied products
do....
Petroleum and coal products
do....
Rubber and plastics products, nee
do....
Leather and leather products
do
Service-producing
do
Transportation and public utilities
do....
Wholesale and retail trade
do
Wholesale trade
do..
Retail trade
do....
Finance insurance and real estate
. do
Services
do....
Government
do
Federal
do....
State and local
do
Production or nonsupervisory workers on private
nonagric. payrolls, not seas, adjusted
thous..
Manufacturing
do
Seasonally Adjusted t
Production or nonsupervisory workers on private
nonagricultural payrolls t
thous..
Goods-producing ..
do
Mining
do....
Construction .
do
Manufacturing
do....
Durable goods
do
Lumber and wood products
do....
Furniture and fixtures
do....
Stone, clay, and glass products
do....
Primary metal industries
do....
Fabricated metal products §
do
Machinery, except electrical
do....
Electric and electronic equipment @.... do....
Transportation equipment §
do....
Instruments and related products
do....
Miscellaneous manufacturing
do....
Nondurable goods
do
Food and kindred products
do....
Tobacco manufactures
do....
Textile mill products
do
Apparel and other textile products
do....
Paper and allied products
do....
Printing and publishing
do....
Chemicals and allied products
do....
Petroleum and coal products
do....
Rubber and plastics products, nee
do....
Leather and leather products
do....
Service-producing
do
Transportation and public utilities
do....
Wholesale and retail trade
do. ..
Wholesale trade
. .
do
Retail trade
do
Finance, insurance, and real estate
do....
Services
.
do
AVERAGE HOURS PER WEEK t
Seasonally Adjusted
Avg. weekly hours per worker on private nonagric.
payrolls: fl Seasonally adjusted
hours..
Not seasonally adjusted
do....
Mining
do
Construction
do....
Manufacturing:
Not seasonally adjusted
do....
Seasonally adjusted
do....
Overtime hours
.
do
Durable goods
do
Overtime hours
do....
Lumber and wood products
do....
Furniture and fixtures
do....
Stone, clay, and glass products
do....
Primary metal industries
do....
See footnotes at end of tables.
P
20,954
P
12P 660
742
P
484
P
707
p
l,222
p
l,726
P
2,456
P
2,151
P
2,022
P
700
P
19,682
11,597
722
464
669
1,182
1,583
2,175
1,878
1,872
615
438
8,086
1,711
71
910
1,316
692
1,141
1,074
202
714
255
58078
4,713
18516
4,708
13,808
4,467
15,303
15079
2,727
12352
20,476
12,246
752
491
698
1,213
1,673
2,319
2,000
1,992
654
454
8,230
1,721
70
900
1,333
701
1,193
1,096
209
752
256
60849
4,927
19499
4,957
14,542
4,727
16,220
15476
2,753
12723
20,772
12,510
760
492
704
1,242
1,706
2,382
2,037
2,057
670
460
8,262
1,725
69
897
1,330
700
1,212
1,102
210
763
254
61720
5,038
19829
5054
14,775
4827
16,554
15472
2,757
12715
20,881
12,583
765
494
710
1,247
1,718
2,404
2,050
2,063
674
458
8,298
1,736
69
899
1,333
703
1,218
1,106
211
770
253
61861
5,054
19858
5077
14,781
4847
16,630
15472
2,734
12738
20,958
12640
768
497
709
1,250
1,725
2,419
2,065
2,069
679
459
8,318
1,735
68
900
1,339
706
1,225
1,109
211
774
251
62051
5,071
19965
5102
14,863
4868
16,670
15477
2,758
12719
21,025
12715
768
496
712
1,256
1,733
2,437
2,079
2,094
682
458
8,310
1,729
68
899
1,327
711
1,229
1,108
212
779
248
62252
5,094
20016
5118
14,898
4884
16,763
15495
2,757
12738
21,073
12751
769
493
718
1,259
1,732
2,450
2,093
2,094
685
458
8,322
1,736
69
897
1,324
716
1,232
1,108
213
780
247
62412
5,116
20054
5,134
14,920
4,899
16,833
15,510
2,757
12,753
21,066
12,752
761
490
714
1,260
1,732
2,466
2,101
2,084
689
455
8,314
1,728
69
892
1,325
717
1,234
1,111
213
781
244
62471
5,024
20088
5,138
14,950
4,915
16,880
15,564
2,758
12806
21,059
12739
762
487
715
1,254
1,730
2,471
2,106
2,077
688
449
8,320
1,725
70
893
1,324
714
1,236
1,114
213
784
247
62747
5,130
20129
5,156
14,973
4,935
16,954
15,598
2,770
12828
21,063
12760
757
485
715
1,257
1,737
2,484
2,124
2,057
693
451
8,303
1,720
69
892
1,312
715
1,242
1,119
212
775
247
62952
5,190
20 116
5,180
14,936
4,958
17,051
15,637
2,788
12849
21,079
12786
753
488
711
1,256
1,730
2,500
2,131
2,073
694
450
8,293
1,707
68
892
1,324
718
1,250
1,116
212
111
229
62990
5,169
20 122
5,182
14,940
4,972
17,092
15,635
2,785
12850
20,957
12,714
752
484
710
1,245
1,714
2,492
2,092
2,079
695
451
8,243
1,696
64
886
1,302
717
1,247
1,111
213
764
243
63 163
5,194
20 126
5,185
14,941
5,003
17,141
15,669
2,813
12,886
20,949
12737
758
480
708
1,236
1,716
2,496
2,117
2,086
692
448
8,212
1,691
65
884
1,294
714
1,245
1,110
'217
751
243
63210
5,180
20 169
5,190
14,979
4,997
17,191
15,673
2,762
12,911
55,179
14 135
58,109
14714
59,773
15058
60,021
15047
58,436
14910
58,392
14908
59,108
14,993
59,628
15,002
60,371
15,061
61,187
15,240
60,961
14,946
61,066
14,956
61,212 '61,250 '61,291 "61,540
14,957 '14,894 '14,838 "14,944
55,179
17774
618
3021
14,135
8307
616
382
533
922
1 198
1,422
1,233
1,290
376
334
5828
1,161
57
792
1,129
518
646
616
131
558
218
35072
4,008
16,316
3878
12438
1,065
13683
58,109
18740
638
3388
14,714
8786
645
404
555
953
1271
1,524
1,312
1,377
401
346
5928
1,171
55
784
1,145
526
672
628
136
589
219
36885
4,147
17,181
4085
13096
1,112
14445
59,248
19163
695
3535
14,933
8983
649
404
559
980
1296
1,567
1,338
1,428
412
350
5950
1,176
55
783
1,142
526
681
632
138
599
218
40085
4,228
17,468
4 157
13 311
3,676
14713
59,470
19289
697
3571
15,021
9042
654
406
563
985
1306
1,585
1,346
1,434
414
349
5979
1,189
55
783
1,142
530
685
635
138
606
216
40181
4,235
17487
4 175
13 312
3,690
14769
59,688
19372
700
3587
15,085
9085
656
408
562
987
1310
1,595
1,360
1,439
418
350
6000
1,191
55
785
1,149
532
690
637
138
609
214
40316
4,248
17578
4 194
13 384
3,705
14785
59,883
19409
707
3574
15,128
9138
655
406
564
992
1317
1,610
1,369
1,456
421
348
5990
1,184
54
783
1,137
537
694
636
139
614
212
40474
4,268
17618
4206
13 412
3,716
14872
60,161
19,555
707
3695
15,153
9,158
657
404
569
995
1315
1,615
1,378
1,455
422
348
5995
1,191
55
781
1,131
542
696
635
139
614
211
40606
4,283
17,648
4222
13426
3,729
14946
60,051
19,475
708
3,633
15,134
9,146
649
401
563
995
1,314
1,625
1,384
1,446
423
346
5988
1,187
56
111
1,131
543
696
636
140
614
208
40576
4,197
17,662
4221
13 441
3,743
14974
60,326
19,542
708
3,722
15,112
9,119
649
397
564
987
1,310
1,628
1,384
1,438
421
341
5993
1,184
56
778
1,133
541
700
636
139
616
210
40784
4,293
17,691
4237
13454
3,756
15044
60,495
19,537
709
3,732
15,096
9,123
646
395
565
991
1,316
1,632
1,393
1,417
424
344
5973
1,181
55
111
1,122
541
701
640
139
607
210
40958
4,351
17,689
4257
13432
3,777
15141
60,544
19,560
713
3,757
15,090
9,124
643
398
560
988
1,309
1,641
1,395
1,426
422
342
5966
1,170
54
778
1,130
547
707
639
138
609
194
40984
4,337
17,681
4255
13426
3,788
15 182
60,474
19,419
723
3,731
14,965
9,056
640
395
557
973
1,293
1,631
1,363
1,438
422
344
5909
1,160
49
770
1,108
545
705
634
139
594
205
41055
4,345
17,676
4256
13420
3,808
15226
60,528
19,416
730
3,729
14,957
9,066
646
392
557
970
1,295
1,637
1,375
1,433
420
341
5891
1,153
52
769
1,104
543
703
635
140
585
207
41 112
4,334
17,721
4259
13462
3,794
15260
'60,668
'19,371
'733
3,744
'14,894
'8,972
'649
394
'557
'960
1,298
'1,601
1,380
'1,371
'421
341
'5922
'1,169
52
772
1,109
'543
708
'637
'140
'585
207
'41 297
'4,370
'17,789
'4279
13510
'3,804
15334
36.0
36.0
434
36.3
35.8
35.8
433
35.7
35.8
35.8
433
36.8
35.8
36.1
434
370
35.8
35.2
434
37.1
35.7
35.4
43 1
36.6
35.9
35.7
43.1
37.1
35.3
35.1
42.9
35.5
35.7
35.5
42.8
37.1
35.6
35.9
430
37.2
35.6
36.0
416
36.8
35.6
36.0
43.2
37.2
35.7
35.8
43.1
37.5
'35.6
'35.7
'43 1
'36.6
'35.7
'35.6
'433
'36.8
P
35.7
P
35.9
P
439
P
40.3
40.3
40.4
40.4
41 1
39.8
39.0
41.3
41.3
39.8
39.3
41.6
41.8
41.4
40.6
37
414
4.0
39.9
39.2
41.9
42.2
40.1
40.6
37
414
4.1
39.9
38.9
41.8
42.3
40.2
40.6
37
414
4.1
39.6
38.8
41.6
42.2
40.6
40.6
37
414
4.0
40.0
39.1
42.0
42.0
38.9
39.1
2.7
395
2.7
39.1
38.1
41.2
41.8
40.1
40.2
35
40.9
3.8
39.4
38.5
41.7
41.4
40.4
40.1
3.4
40.7
3.6
39.4
38.5
41.6
41.2
39.9
40.2
33
40.7
3.5
39.3
38.4
41.4
41.3
40.0
40.1
3.2
40.7
3.3
39.5
38.3
41.3
41.0
40.3
40.2
3.2
40.7
3.3
39.7
38.6
41.5
41.0
'40.3
'40.2
'3.2
'40.8
'3.3
'39.4
'38.8
'41.3
'41.1
'40.4
'40.1
'32
'40.6
'3.4
'39.3
'38.9
'41.5
'40.7
P
41.0
P
40.3
P
41.0
40.9
40.6
37
413
4.0
40.0
39.1
41.9
42.2
'20,899
'12 650
760
482
'709
'1,226
1,723
'2,455
'2,125
'2,025
696
449
'8,249
'1,707
65
'887
'1,299
715
'1,252
'1,113
'217
'751
243
'63 410
'5,218
'20 243
'5,209
'15,034
5,018
'17,257
'15,674
2,770
'12,904
'20,846
'12 597
752
'483
'705
'1,223
'1,725
'2,445
'2,125
'1,996
'694
'449
'8,249
'1,711
60
'887
'1,291
'714
'1,262
'1,115
'217
'750
'242
'63 567
'5,227
'20 303
'5,233
'15,070
'5,041
'17,314
'15,682
2,771
'12911
450
P
8,294
p
l,722
"62
"893
"1,300
"716
"1,265
"1,126
"217
"751
"243
"63 714
"5,224
"20 300
"5,246
P
15,054
P
5070
"17,385
"15 735
"2,787
"12 948
'60,757 "60,986
'19,323 "19,490
'734
"745
'3,751 "3,801
'14,838 "14,944
'8,918 P8,980
P
'640
629
P
'394
395
P
'554
555
'955 p P955
'1,300
l,300
'1,598 ppl,607
'1,375
l,392
'1,343 "1,381
P
'418
423
P
341
343
'5920 "5964
'1,174 "1,186
46
"49
P
'774
778
'1,102 p lP, l l l
'542
545
P
715
716
P
'636
645
'140
"141
P
'586
587
P
'205
206
P
'41 434 41
496
P
'4,376
4,381
'17,840 P17,833
'4293 "4310
'13 547 P13 523
'3,816 "3,839
'15 402 P15 44^
37.1
33
408
"3.3
"39.8
"38.8
"41.7
"40.6
P
SURVEY OF CURRENT BUSINESS
January 1980
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
Annual
S-13
1979
1978
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
AVERAGE HOURS PER WEEK t—Cont.
Seasonally Adjusted—Continued
Average weekly hours per worker—Cont.
Manufacturing—Continued
Durable goods—Continued
Fabricated metal products §
. hours..
Machinery except electrical
do....
Electric and electronic equipment @
do....
Transportation equipment §
do....
Instruments and related products
do....
Miscellaneous manufacturing
do....
Nondurable goods
do....
Overtime hours
do
Food and kindred products
.... do....
Tobacco manufactures
do....
Textile mill products
. do...
Apparel and other textile products
do....
Paper and allied products
do....
Printing and publishing
do....
Chemicals and allied products
do....
Petroleum and coal products
do....
Rubber and plastics products, nee
do....
Leather and leather products
do
Transportation and public utilities
. do .
Wholesale and retail trade
do....
Wholesale trade . . . . .
do
Retail trade
do....
Finance insurance and real estate
do
Services
do....
AGGREGATE EMPLOYEE-HOURS t
Seasonally Adjusted
Employee-hours, wage & salary workers in nonagric. establish, for 1 week in the month,
seas adj. at annual rate
bil. hours..
Total private sector
.
do
Mining
do....
Construction
do
Manufacturing
do....
Transportation and public utilities
do
Wholesale and retail trade
do..
Finance, insurance, and real estate
do....
Services
... . ..
do . .
Government
do....
Indexes of employee-hours (aggregate weekly): |j
Private nonagric. payrolls, total
1967=100..
Goods-producing
do....
Mining
do
Construction
do....
Manufacturing
do....
Durable goods
.
.. do....
Nondurable goods
do....
Service-producing
.
. do
Transportation and public utilities
do....
Wholesale and retail trade
do....
Wholesale trade ..
..
.doRetail trade
do
Finance, insurance, and real estate
do....
Services
do....
HOURLY AND WEEKLY EARNINGS t
Average hourly earnings per worker: fl
Not seasonally adjusted:
Private nonagric payrolls
dollars.
Mining
do....
Construction
do
Manufacturing
do....
Excluding overtime
do
Durable goods
.
.
.. do....
Excluding overtime
do....
Lumber and wood products
do....
Furniture and fixtures
.. do....
Stone clay and glass products
do
Primary metal industries
do....
Fabricated metal products §
do....
Machinery, except electrical
do....
Electric and electronic equipment @ do....
Transportation equipment §
do....
Instruments and related products .... do....
Miscellaneous manufacturing
do....
Nondurable goods
do
Excluding overtime
do....
Food and kindred products
do....
Tobacco manufactures
do....
Textile mill products
do....
Apparel and other textile products .. do....
Paper and allied products
do....
Printing and publishing
do....
Chemicals and allied products
do....
Petroleum and coal products
do....
Rubber and plastics products, nee .... do....
Leather and leather products
do....
Transportation and public utilities
do....
Wholesale and retail trade
do....
Wholesale trade
do ..
Retail trade
do....
Finance, insurance, and real estate
do....
Services
do....
See footnotes at end of tables.
P
39.7
38.1
40.4
35.6
40.1
37.6
41.9
43.6
40.9
37.1
40.0
32.9
38.8
31.0
36.4
32.8
41.1
42.2
40.4
42.7
40.9
38.9
39.5
3.2
39.8
37.5
40.4
35.6
43.0
37.8
42.1
44.1
41.1
36.9
39.9
32.8
38.8
30.9
36.4
32.7
41.3
42.4
40.5
42.8
40.9
38.9
39.4
3.2
39.9
38.1
40.4
35.5
42.8
37.6
41.8
43.8
41.2
36.7
40.0
32.8
38.9
30.9
36.3
32.6
41.1
42.3
40.5
42.8
41.1
39.0
39.5
3.2
40.0
37.2
40.7
35.3
42.8
37.7
42.0
43.5
41.4
36.8
40.0
32.5
38.7
30.6
36.3
32.6
41.3
42.5
40.7
42.7
41.2
39.0
39.3
3.2
39.8
36.9
40.1
35.4
42.7
37.7
42.0
43.6
41.2
36.4
40.0
32.5
38.7
30.6
36.4
32.6
41.3
42.4
40.7
42.3
41.2
39.0
39.4
3.3
40.0
38.0
40.3
35.4
42.8
37.7
41.9
44.0
41.3
36.3
40.0
32.7
39.0
30.7
36.4
32.8
39.1
40.5
39.0
37.9
40.3
37.6
38.6
2.7
39.6
37.6
38.8
34.2
41.8
37.1
41.7
43.9
39.7
35.6
39.2
32.8
38.7
30.9
36.5
32.7
40.7
42.0
40.4
41.5
40.8
38.6
39.2
3.0
39.8
38.9
40.0
35.2
42.6
37.4
41.9
43.7
40.9
36.1
39.8
32.6
39.0
30.6
36.1
32.7
40.7
42.0
40.3
40.8
40.6
38.9
39.2
3.0
39.8
37.6
40.1
35.2
42.5
37.4
41.7
43.3
40.7
36.4
39.8
32.6
38.8
30.6
36.2
32.7
40.8
41.9
40.2
40.9
40.7
39.3
39.2
3.0
39.8
38.5
40.1
35.3
42.5
37.5
41.9
43.6
40.6
36.6
39.7
32.6
38.8
30.6
36.3
32.8
156.63
126.99
1.84
7.31
41.03
9.78
32.18
6.47
26.38
29.64
163.85
133.27
1.92
8.17
42.75
10.24
33.44
8.96
27.78
30.58
167.00
135.90
2.07
8.52
43.50
10.44
33.95
9.15
28.27
31.11
167.22
136.55
2.07
8.67
43.84
10.52
34.05
9.16
28.24
30.67
167.44
136.60
2.07
8.31
44.10
10.57
33.96
9.24
28.36
30.84
167.83
137.20
2.09
8.46
44.22
10.60
34.04
9.26
28.54
30.63
169.22
138.39
2.11
8.98
44.35
10.66
34.22
9.28
28.80
30.83
166.62
137.38
2.09
8.43
43.92
10.36
34.43
9.32
28.81
29.24
168.46
137.78
2.10
8.96
43.71
10.63
34.23
9.29
28.86
30.68
169.20
138.22
2.13
9.06
43.65
10.73
34.27
9.34
29.05
30.98
169.27
138.23
2.09
8.98
43.70
10.68
34.17
9.39
29.21
31.05
115.7
120.5
134.1
106.4
98.2
98.8
97.2
126.3
106.1
122.5
120.9
123.1
131.8
138.5
121.3
106.0
138.0
119.9
102.4
104.9
98.8
131.9
110.1
127.4
127.4
127.3
139.6
146.1
123.7
108.9
150.6
126.0
104.4
107.9
99.5
134.0
112.0
129.2
129.6
129.0
142.6
148.3
124.2
109.8
151.3
127.9
105.1
108.8
99.8
134.2
112.5
129.5
130.5
129.0
142.7
148.4
124.4
110.3
152.0
128.9
105.6
109.2
100.3
134.2
112.8
129.0
130.5
128.5
143.3
148.6
124.7
110.2
152.5
126.7
105.8
109.9
99.8
134.8
113.3
129.3
130.8
128.7
144.1
149.5
125.7
111.3
152.5
132.7
106.0
110.1
100.1
135.8
113.7
130.2
132.3
129.3
144.6
151.1
123.6
106.8
152.0
124.9
102.0
105.0
97.8
135.3
109.2
130.6
131.3
130.3
145.5
151.0
125.4
110.3
151.6
133.7
104.7
108.3
99.5
135.9
113.4
130.2
132.8
129.1
144.5
151.7
125.7
110.1
152.5
134.4
104.3
107.9
99.1
136.5
115.0
130.0
132.8
128.9
145.7
152.6
125.7
109.9
148.4
133.9
104.4
107.9
99.1
136.7
114.2
129.9
132.7
128.9
146.5
153.5
125.5
109.4
156.7
134.5
103.3
106.8
98.2
136.6
115.2
129.6
132.4
128.5
146.3
153.4
125.9
109.7
157.4
135.4
103.4
107.1
98.1
137.2
114.9
130.4
132.5
129.6
147.1
153.8
125.8
109.0
158.1
132.7
103.1
106.2
'98.5
137.5
115.8
130.7
133.4
129.7
146.7
154.1
126.3
108.7
159.0
133.7
102.5
105.2
'98.7
138.5
116.2
131.4
134.6
130.5
148.4
155.3
p
126.9
P
110.2
P
163.6
P
136.5
P
103.7
P
106.4
P
99.7
P
138.5
P
116.3
P
131.0
P
135.1
P
129.4
P
148.9
P
5.25
6.94
8.10
5.68
5.44
6.06
5.80
5.10
4.34
5.81
7.40
9.51
6.26
5.39
7.28
5.29
4.36
5.11
4.91
5.37
5.54
3.99
3.62
5.96
6.12
6.43
7.83
5.17
3.61
6.99
4.28
5.39
3.85
4.54
4.65
5.69
7.67
8.65
6.17
5.91
6,58
6.29
5.60
4.68
6.32
8.20
6.34
6.77
5.82
7.91
5.71
4.69
5.88
8.05
8.89
6.38
6.10
6.82
6.50
5.75
4.80
6.54
8.52
6.54
7.01
5.97
8.27
5.84
4.79
5.91
8.06
8.92
6.48
6.19
6.93
6.59
5.79
4.86
6.58
8.56
6.62
7.15
6.09
8.41
5.95
4.86
5.97
8.20
8.98
6.49
6.22
6.92
6.61
5.79
4.87
6.57
8.62
6.60
7.10
6.11
8.34
5.99
4.93
6.00
8.21
9.02
6.52
6.25
6.96
6.64
5.83
4.93
6.58
8.75
6.65
7.16
6.13
8.35
6.02
4.95
'6.32
'8.57
'9.49
'6.82
'6.54
'7.25
'6.95
'6.24
'5.20
'7.00
'9.10
'6.96
'7.45
'6.45
'8.67
'6.32
'5.12
'6.34
'8.70
'9.50
'6.87
'6.59
'7.29
'7.00
'6.24
'5.22
'7.06
'9.27
'7.00
'7.53
'6.52
'8.70
'6.39
'5.14
P
6.38
P
8.76
P
9.52
P
5.81
5.60
6.09
6.36
4.52
4.17
6.80
6.72
7.32
9.01
5.82
4.13
7.90
4.96
6.18
4.47
5.13
5.23
5.82
5.61
6.10
6.53
4.51
4.17
6.83
6.73
7.32
9.10
5.84
4.14
7.92
4.97
6.21
4.47
5.19
5.27
6.16
8.52
9.24
6.71
6.45
7.15
6.86
6.23
5.04
6.89
9.04
6.80
7.35
6.27
8.55
6.16
5.03
6.03
5.81
6.28
6.83
4.65
4.23
7.17
6.90
7.60
9.39
5.95
4.19
8.23
5.05
6.39
4.51
5.29
5.29
6.31
8.57
9.51
6.80
6.51
7.24
6.93
6.32
5.18
'6.98
9.16
6.93
7.48
6.46
8.59
6.21
5.07
5.75
5.52
6.02
6.18
4.48
4.08
6.79
6.70
7.28
8.89
5.77
4.01
7.85
4.81
6.14
4.31
5.07
5.16
6.09
8.45
9.14
6.63
6.36
7.07
6.77
5.97
4.97
6.78
8.83
6.77
7.25
6.21
8.56
6.11
5.00
5.91
5.70
6.22
6.83
4.52
4.20
6.96
6.83
7.47
9.39
5.90
4.18
7.94
5.00
6.29
4.49
5.22
5.27
6.19
8.48
9.32
6.69
6.42
7.12
6.84
6.23
5.10
6.90
9.10
6.83
7.35
6.36
8.44
6.14
5.04
5.70
5.47
5.97
6.02
4.45
4.04
6.75
6.66
7.22
8.78
5.71
3.98
7.78
4.80
6.07
4.31
5.03
5.13
6.03
8.54
9.02
6.54
6.34
6.95
6.73
5.90
4.94
6.73
8.92
6.62
7.10
6.11
8.26
6.03
4.96
5.90
5.71
6.19
6.80
4.48
4.19
6.92
6.72
7.50
9.44
5.82
4.18
7.88
5.00
6.30
4.49
5.23
5.29
6.12
8.49
9.13
6.66
6.39
7.11
6.81
6.16
5.05
6.85
8.91
6.81
7.34
6.25
8.53
6.11
4.99
5.53
5.32
5.80
6.13
4.30
3.94
6.52
6.50
7.01
8.63
5.52
3.89
7.57
4.67
5.88
4.20
4.90
4.99
6.02
8.27
8.97
6.56
6.28
6.99
6.68
5.84
4.95
6.64
8.75
6.72
7.19
6.16
8.42
6.04
4.95
5.85
5.63
6.12
6.64
4.52
4.19
6.88
6.77
7.36
9.31
5.86
4.17
7.90
4.98
6.23
4.47
5.16
5.26
6.04
5.80
6.28
6.59
4.77
4.21
7.22
6.94
7.65
9.35
5.94
4.22
8.32
5.06
6.41
4.52
5.29
5.30
6.11
5.86
6.33
6.54
4.82
4.28
7.32
7.04
7.73
9.51
6.03
4.29
8.45
5.13
6.51
4.58
5.38
5.45
'6.14
'5.90
'6.36
'6.43
'4.83
'4.32
'7.34
'7.06
'7.82
'9.49
'6.12
'4.31
'8.45
'5.15
'6.51
'4.59
'5.37
'5.48
'6.20
'5.96
'6.50
'7.01
'4.86
'4.32
'7.41
'7.10
'7.86
'9.59
'6.13
'4.34
'8.49
'5.18
'6.57
'4.62
'5.42
'5.53
41.7
41.5
40.4
42.5
40.6
38.8
39.4
41.0
42.0
40.3
42.2
40.9
38.8
39.4
40.0
37.8
40.4
35.6
40.4
37.7
41.7
42.7
41.0
36.9
39.9
33.3
38.8
31.6
36.4
33.0
5.94
5.72
6.22
6.82
4.54
4.21
7.05
6.88
7.53
9.32
5.91
4.19
8.03
5.02
6.34
4.50
5.22
5.27
40.6
41.6
39.8
41.7
40.5
39.1
39.2
3.0
39.7
38.0
40.1
35.3
42.6
37.7
42.0
43.7
40.2
36.5
39.9
32.5
38.7
30.5
36.1
32.7
40.7
41.9
40.3
40.6
40.6
39.1
39.3
3.1
40.0
38.6
40.6
35.3
42.4
37.5
41.7
44.1
40.3
37.0
39.9
32.6
38.7
30.7
36.4
32.7
'40.9
'41.6
'40.3
'41.3
'40.7
'39.1
'39.3
'3.0
'39.9
'38.3
'40.8
'35.3
'42.6
'37.4
'41.7
'43.7
'40.3
'36.5
'39.9
'32.6
'38.8
'30.6
'36.2
'32.6
'40.6
'41.6
'40.5
'40.6
'40.9
'39.1
'39.4
'3.2
'39.9
'37.7
'41.0
'35.3
'42.7
'37.6
'41.9
'44.3
'39.9
'36.7
'40.0
'32.7
'39.0
'30.7
'36.5
'32.7
169.10 169.51 169.50 169.71
138.16 138.71 138.62 139.30
2.20
'2.22
'2.21
'2.16
9.07
'9.07
'9.16
'8.98
43.22 '43.37 '43.42 '43.29
10.77 10.75 10.82 10.89
34.23 '34.40 '34.41 '34.70
9.41
'9.87
'9.48
'9.48
29.25 '29.33 '29.36 '29.56
30.94 '30.80 '30.88 '30.41
40.9
"41.7
P
40.6
P
41.1
"41.0
P
39.2
P
39.5
P
3.2
P
40.0
P
38.7
P
41.2
P
35.7
P
42.9
P
37.5
"41.9
"44.2
"39.7
P
36.7
P
40.0
P
32.6
P
39.0
P
30.5
P
36.4
P
32.8
P
170.90
P
140.04
P
2.27
P
9.28
P
43.74
P
10.89
"34.55
"9.62
"29.70
"30.86
156.8
6.97
"6.69
"7.42
"7.12
P
6.25
P
5.28
P
7.06
P
9.35
P
7.11
P
7.65
"6.63
P
8.86
P
6.45
P
5.24
P
6.26
"6.01
"6.54
"7.02
"4.89
"4.38
"7.45
"7.16
"7.92
"9.57
"6.23
P
4.39
P
8.55
P
5.17
'6.64
"4.59
"5.49
"5.59
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
January 1980
1978
Nov.
Annual
1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS t—Cont.
Average hourly earnings per worker—Cont.
Seasonally adjusted:
Private nonagricultural payrolls . . dollars.
Mining
do....
Construction
. do
Manufacturing
do....
Transportation and public utilities
do....
Wholesale and retail trade
do....
Finance, insurance, and real estate
do....
Services . .
do...
Indexes of avg. hourly earnings, seas, adj.: H
Private nonfarm economy:
Current dollars
1967=100..
1967 dollars $
do....
Mining
. do
Construction
do....
Manufacturing
do .
Transportation and public utilities
do....
Wholesale and retail trade
do
Finance, insurance, and real estate
do....
Services
do
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (ENR): §
Common labor
$ per hr
Skilled labor
do....
Farm (U.S.) wage rates, hired workers, by
method of pay:
All workers, including piece-rate
$ per hr..
All workers other than piece-rate
. .. do. .
Workers receiving cash wages only
do....
Workers paid per hour cash wages only do
Railroad wages (average class I)
do....
5.25
6.94
810
5.68
6.99
4.28
4.54
4.65
5.69
7.67
865
6.17
7.57
4.67
4.90
4.99
5.87
8.06
885
6.38
7.74
4.81
5.06
511
592
8.08
888
6.43
7.83
4.85
5.09
5 14
596
8.18
894
6.46
7.88
4.92
5.09
5 18
6.00
8.23
906
6.51
7.92
4.93
5.14
522
6.04
8.28
903
6.56
7.96
4.96
5.16
524
6.04
8.56
9 11
6.56
7.91
4.99
5.22
527
6.09
8.43
920
6.65
7.99
5.00
5.21
526
6.13
8.49
919
6.68
8.09
5.03
5.23
531
6.18
8.49
927
6.72
8.21
5.07
5.30
535
6.22
8.57
932
6.74
8.30
5.10
5.32
539
196.8
212.9
220.9
108.7
2509
213.0
2242
239.0
2147
202.1
2193
222.6
108.5
2521
213.8
2254
240.8
2177
202.4
2208
224.0
107.8
2537
2167
2272
241.7
218 1
204.2
2222
225.2
107.3
256 1
216.5
2287
243.1
2194
204.8
2233
226.8
106.9
264 1
218.1
2310
241.7
2209
207.5
2250
227.5
106.1
2627
220.4
2323
243.7
2210
207.0
2243
229.0
105.7
2649
2204
2339
246.4
2226
208.0
2257
230.9
105.6
2669
2221
2354
251.3
2238
210.8
2270
1037
13.73
1037
13.76
1040
13.79
1040
13.80
1040
13.81
1043
13.90
1070
14.11
1100
14.37
6.26
8.50
938
6.78
r
8.37
5.12
5.40
545
'628
'8.57
'938
'682
'8.39
'5.14
'5.38
'546
'6.33
'8.71
'945
'6.87
'8.45
'5.19
'5.45
'551
232.2
105 1
2656
223 1
2369
252.6
2254
211.5
2284
234.3
104.9
266 1
2244
2387
255.6
2270
214.4
2314
'234.9
1042
'2680
'2240
'2400
'2558
'2274
'213.1
'2323
'237.1
104.1
'2714
'2256
'242 1
'258.0
'2294
'216.2
'2346
1105
14.45
11 10
14.51
11 12
1465
1120
14.77
r
2148
194.5
1995
213.4
1896
180.7
1978
2409
2076
2158
231.0
2067
194.8
2124
219.2
108.6
2499
2116
2224
2363
2130
200.7
2177
946
12.56
1008
13.36
1034
13.72
2.87
282
3.06
290
7.481
3.07
302
3.22
310
7905
18873
103.96
20383
104.31
21015
104.14
21194
104.30
21337
10398
21420
103 13
21684
103.31
21321
100.48
21741
101.40
21823
10075
22001
100.60
22143
100.24
22348 '223 57 '225 98
100.04 '99 19 '9924
3.37
333
3.60
334
3.40
3.35
3.64
342
3.23
320
3.41
330
8108
16978
93.50
180.80
92.54
18555
91.95
18689
91.97
18973
92.46
19033
91.66
192.43
91.68
189.61
89.35
192.88
89.96
193.52
89.34
194.90
89.12
196.01
88.73
19758 '197 38 "198 73
88.44 '87.69 '87.61
189.00
30120
25846
228.90
24846
201.33
278.90
142.52
209.13
120 11
165.26
15345
203.70
332 11
27092
249.27
27044
217.88
302.80
153.64
228.14
13057
178.36
16367
210.50
35259
28096
260.94
28371
226.29
310.42
156.00
235.52
13136
182.59
16724
213.35
34980
27668
268.27
29314
229.43
315.57
159.21
240.07
13926
184.04
16770
210.14
34768
26690
260.25
28303
226.01
312.84
158.72
237.31
135 15
186.73
16945
212.40
34975
27497
262.10
28606
226.40
316.01
159.54
238.46
13996
188.92
17075
214.91
35478
287.65
266.34
28939
229.91
314.42
161.35
242.35
141.59
187.31
17148
211.65
36380
281.42
254.41
27314
225.38
307.32
162.50
243.18
146.83
190.37
17193
216.20
36166
295.71
265.86
28846
231.08
314.42
162.00
244.68
151.70
188.44
17128
219.71
36762
297.02
269.06
29151
234.04
321.20
165.16
247.26
149.85
188.96
17338
221.76
35528
348.35
267.73
288.86
236.38
329.20
168.17
249.21
142.07
192.50
17616
222.84
36549
354.16
267.60
28765
237.98
336.47
167.66
248.96
141.93
191.50
17596
225.90
37280
36043
274.04
29539
241.96
337.16
167.75
252.59
14061
195.29
17822
'225.62
'374 51
'356 82
'274.85
'295 80
'241.92
'337.16
167.38
'253.24
'139 54
194.93
'178 65
HELP- WANTED ADVERTISING
Seasonally adjusted index
1967 — 100
118
149
161
165
161
158
156
155
154
153
155
155
159
167
4.0
30
36
22
06
4.7
37
41
27
05
3.8
29
37
22
07
3.4
26
38
21
10
4.7
36
47
26
10
4.3
31
40
24
08
5.0
36
39
23
05
4.4
32
36
23
06
5.4
4.2
38
23
06
5.6
4.4
38
26
04
4.3
3.1
43
20
14
4.9
3.7
57
33
13
4.4
34
47
27
11
4.1
3.1
42
21
12
P
2.9
P
2.1
P
38
p
44
3.4
40
22
0.9
45
3.5
40
22
09
43
3.3
41
23
0.9
42
3.3
40
22
0.9
40
3.1
39
21
09
39
3.0
39
21
1.1
40
3.0
40
20
1.0
40
3.0
4.1
20
1.1
39
2.8
40
19
1.2
37
2.7
43
19
15
38
2.8
39
19
12
41
2.9
39
20
11
P
39
P
2.8
P
4
1
P
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
weekly #@
thous..
State programs (excl. extended duration prov.):
Initial claims
thous
Insured unemployment avg weekly
do
Percent of covered employment: @ @
Unadjusted
Seasonally adjusted
Beneficiaries average weekly
thous
Benefits paid' @
mil $
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 $
See footnotes at end of tables.
8.53
"5.22
"5.51
P
557
P
239.1
P
2740
P
2265
P
2442
"260.5
2304
"218.4
P
2374
P
1121
14.78
3.56
350
372
358
Avg. weekly earnings per worker,
private nonfarm: fl
Current dollars seasonally adjusted
1967 dollars, seasonally adjusted $
Spendable earnings (worker with 3 dependents):
Current dollars seasonally adjusted
1967 dollars, seasonally adjusted $
Current dollars, not seasonally adjusted:
Private nonfarm, total
dollarsMining
do
Construction .
. . do ..
Manufacturing
do....
Durable goods
. do
Nondurable goods
do....
Transportation and public utilities
do....
Wholesale and retail trade
do....
Wholesale trade
do....
Retail trade
. do
Finance, insurance, and real estate
do....
Services
do
LABOR TURNOVER
Manufacturing establishments:
Unadjusted for seasonal variation:
Accession rate, total
mo. rate per 100 employees..
New hires ..
do
Separation rate, total
do .
Quit . .
do
Layoff
do
Seasonally adjusted:
Accession rate total
do
New hires
do....
Separation rate, total .
do.. .
Quit . .
do
Layoff
do....
P
639
P
8.79
P
948
P
6.91
P
3,304
3,311
2,148
2,567
3,198
3,209
2,921
2,610
2230
2,119
2,429
2,377
2164
19488
2655
18002
2358
1526
2009
1882
2421
2386
3037
1579
3053
1396
2750
1591
2440
1326
2078
1 411
1991
1970
2300
1545
2245
2224
39
40
1944
82266
32
31
1883
646 1
39
3.1
2474
9708
40
3.1
2717
9207
36
3.0
2524
9756
31
3.0
2 132
7777
26
2.8
1843
727 1
25
2.9
1729
6133
28
2.9
1793
6657
27
3.0
1920
7650
24
30
2178
83572
27
3.1
1536
5507
46
34
32
34
37
35
33
27
24
23
25
25
25
354
81
78
4707
273
53
54
2483
22
48
51
206
24
50
54
210
24
54
59
25 1
21
53
55
21 2
21
52
55
226
20
48
49
196
21
45
47
204
24
47
19 1
28
51
49
210
28
52
53
239
52
104
21
998
130
25
890
10
17
54
8
17
57
13
24
96
6
25
99
5
23
10 5
3
17
73
3
12
57
9
9
33
15
11
3699
8
12
4220
13
20
5747
P
228 10
'225.70 P229.04
'38106 PP384 56
'346 75 P353.19
'277.55 P285.77
'298 16 309 41
'245.52 P250.40
'339.60 "343.71
167.83 "170.09
'256.23 P260.29
140 45 P"141 85
197.29 P199.84
'180 28 182 79
158
l 5
»1 5
19
•1.3
SURVEY OF CURRENT BUSINESS
January 1980
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
1978
Nov.
Annual
S-15
1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WORK STOPPAGES
Industrial disputes:
Number of stoppages:
Beginning in month or year
In effect during month
Workers involved in stoppages:
Beginning in month or year
In effect during month
Days idle during month or year
number
do....
thous.
do
do....
5506
4300
290
591
157
408
301
405
326
528
447
664
553
822
598
919
543
873
554
900
493
899
513
842
438
776
333
622
2040
1600
35.822
39.000
63
135
1.776
49
139
1.440
101
177
1.810
105
251
1.465
169
280
1.501
411
520
5.193
157
370
3.768
162
277
3.335
202
324
3.128
135
286
3.423
174
282
2.693
225
329
3.428
104
268
3.395
34391
93,998
70806
15025
55781
23 192
35286
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
mil $
Commercial and financial co. paper, total
do....
Financial companies
.
do
Dealer placed
do...
Directly placed
do
Nonfinancial companies
do
25450
63,977
49322
8926
40396
14655
33700
82,236
63857
12350
51507
18379
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
41713
22 139
5600
13974
Federal Reserve banks, condition, end of period:
Assets, total #
mil. $
Reserve bank credit outstanding, total # .. do....
Time loans
do
U.S. Government securities
do....
Gold certificate account
do
Liabilities total $
Deposits total
Member-bank reserve balances
Federal Reserve notes in circulation
do
do
do....
do....
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held total
mil $
Required
do
Excess
do
Borrowings from Federal Reserve banks
do....
Free reserves
do
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits: $
Demand, adjusted §
mil. $..
139 889
116,303
265
102,819
11718
139 889
35550
26,870
93,153
X
36471
'36 297
174
'558
^330
32145
81,890
62584
11842
50742
19306
33700
82,236
63857
12350
51507
18379
47344
47053
25596
6102
15646
25355
6382
15316
36989 39040 42354 42147 43486
100,201 101,599 102,555 104,865 107,672 110,560
76431 77024 77004 77213 79544 82309
15775 16492 16780 17480 16515 17293
60656 60532 60224 59733 63029 65016
23770 24575 25551 27652 28126 28251
33749
86,232
66451
13408
53043
19781
34337
88,971
68515
13929
54586
20456
34617
90,229
69458
14278
55 180
20771
47344
48374
49351
50362
51470
52171
53203
54331
55053
55776
56930
57616
25596
6 102
15646
26020
6732
15 622
26355
7255
15 740
26896
7413
16053
27387
7457
16626
27927
7 188
17056
28463
7 156
17584
28919
7468
17 944
29428
7432
18 193
29808
7,543
18425
30302
8,124
18503
30755
8303
18557
74*596
15494
59 102
22397
153 151 153 098 153 151 147 138 147 749 151 782 153 422 151 844 158 096 155 056 158 082 157 981 160 768 159 742 162 947
123,488 129,255 123,488 119,730 121,207 124,276 125,070 123,456 125,206 126,233 127,678 129,644 130,573 133,313 135,092
1454
2672
1 174
813
1 174
1572
1 156
2034
1603
963
1256
1330
1558
4366
852
110,562 113,305 110,562 101,279 103,486 110,940 108,588 106,185 109,737 111,445 113,027 115,458 114,580 118,087 117,458
11671 11642 11671 11592 11544 11479 11416 11354 11323 11290 11259 11228 11 194 11 112 11 112
153 151 153 098 153 151 147 138 147 749 151 782 153 422 151 844 158 096 155 056 158 082 157 981 160 768 159 742 162 947
36972 39452 36972 34666 34288 38451 38888 34835 39637 34053 34023 37740 35452 36049 35708
31,152 31,919 31,152 29,931 29723 31,714 34587 31,602 30407 30,279 29,493 29,089 32,192 32,280 29,792
103,325 100,825 103,325 99,354 99,999 100,654 101,767 103,748 104,794 105,957 106,900 106,683 107,964 109,908 113,355
Ml 572
Ml 447
125
'874
M>15
39728
39423
305
722
-232
41572
41 447
125
874
-615
40900
40 710
190
1,179
-821
40687
40494
193
1,097
727
40868
40863
5
1,344
-1 170
42423
41998
'425
2,022
-1436
42979
42770
209
1,908
-1558
44063
43560
503
1,454
-870
43167
42865
302
994
-580
40703
40494
209
973
-650
40316
40 059
257
999
-621
40546
40 548
-2
897
-765
40382
40 095
287
1,777
-1317
40 105
39 884
221
1,396
987
98781
97,101 101 766
96,446
99351 103 728 101 955 106,031 105,151 103,216 122,796
120 472
113 248 114,248 113 248 101 765
Demand total #
Individuals, partnerships, and corp
State and local governments
U S Government ..
Domestic commercial banks
do
do....
do....
do
do.
200 280
143,553
6,346
3744
29275
Time, total #
Individuals, partnerships, and corp.:
Savings
Other time
do
252 424
203 092 191 695 203 092 176 356 180 383 169 110 181 180 181 172 178 718 187 361 177 448 195 696 191 304 185 166 219 175
144,438 138,612 144,438 124,481 126,009 120,176 128,370 129',356 124,620 130^490 124,242 134,947 134,689 130,639 155,717
5,956
5309
5309
4341
4,501
5089
5679
5,672
5364
5420
4,562
5224
4355
4550
4632
862
570
2651
981
954
981
1306
786
1450
728
1 411
826
862
763
1837
34086 29773 34086 29036 31681 26546 28839 30094 30529 32234 30740 33583 32840 30612 35894
258 061 280 971 258 061 258 293 257 738 256 756 250 710 248 871 247 812 249 153 252 134 258 431 261 568 264 662 267 383
do
do
92461
121 400
Loans (adjusted) total §$
Commercial and industrial
For purchasing or carrying securities
To nonbank financial institutions
Real estate loans
.
Other loans
do
do....
do
do....
do
do....
324 557
125,534
13638
23,904
74600
111,547
Investments total iji .. .
U.S. Government securities, total
Investment account *
Other securities
do
do....
do....
do
113 934
46111
Commercial bank credit, seas, adj.: t
Total loans and securities j[
•
U S Treasury securities
Other securities
Total loans and leases |f
bil $
do
do
do....
891 1
995
1596
632.1
67823
77865 90044 77865 76480 76023 76831 76564
141 940 148 290 141 940 142 539 142 730 141 430 138 139
347 246 366 087 347 246 341 886 343 926 345 057 355 972
134,038 140,573 134,038 131,604 133,899 135,918 140,100
10655 10971 10655 10979 10287
9731 11307
24,166 24,119 24,166 23,297 22,980 22,695 23,875
80655 88929 80655 81849 82387 83274 84552
119,560 125,474 119,560 124,743 115,230 113,982 117,341
76583 77 123 77635 77 129 76773 74030 72559 74613
137 462 137 975 139 860 143 119 149 250 154 659 158 937 159 955
356 725 364 478 372 906 376 078 390 007 387 169 385 653 402 052
141,323 143,728 147,415 147,616 153,392 152,749 151,006 158,296
9810
9882 10271
10229 11573 12035 11651 11 174
23,541 24,040 25,506 25,663 25,845 26,492 26,053 27,383
86217 88235 90444 92045 94094 95948 97236 99799
117,286 117,715 118,715 120,015 128,643 123,935 122,402 138,138
98848 100 582 102 134 102 759 104,201 103 616 103 616 104 463 105,333 106 098 106,356 108,046
34984 36 140 36939 36048 37,016 35531 35,228 34,676 34,204 35,281 35,782 36,090
31,051 31,732 32,809 31,644 31,670 30,832 30,422 29,995 30,186 30,511 30,549 31,201
63 864 64 442 65 195 66711 67 185 68085 68388 69787 71 129 70817 70574 71956
97953 111 498
35549 41,317
32,437
62404 70 181
97953
35,549
32,437
62404
1 014 3
934
173 1
747.8
10074
960
1715
739.9
1 014 3 10309
934
930
173.1
1780
747.8
759.9
10420
93 2
1788
770.0
10489
93 9
1793
775.7
10610
940
1804
786.6
10688
94 1
1814
793.3
1 0800 10922
95 3
948
1835
182 1
813.4
803.1
1 1028 1 1228 1 128.9 1,129 5
953
94 4
94 1
952
1854
187.6 188.8
190.5
840.0 r844.8
844.6
823.3
Money and interest rates:
Discount rate (N. Y.F.R. Bank), end of year or
month
percent
Federal intermediate credit bank loans
do....
Home mortgage rates (conventional 1st
mortgages):
New home purchase (U.S. avg.)
Existing home purchase (U.S. avg.)
percent..
do....
Open market rates, New York City:
Bankers' acceptances (prime, 90 days)
do....
Commercial paper (6-monthtt)
do....
Finance co. paper placed directly, 6-mo @ do....
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent..
3-5 vear issues
do....
See footnotes at end of tables.
950
9 50
950
9 50
950
950
950
969
1024
1070
1177
8.70
9.16
9.48
9.69
9.89
10.12
10.18
10.23
10.28
10.35
1200
10.70
1200
8.50
950
10.04
9 50
8.01
2
8.80
2
2
9.30
2
9.63
9.74
9.76
9.85
9.92
1008
9.94
10 14
10.02
10.22
10.06
10.29
10.20
10.35
10.39
10.46
10.49
10.67
10.73
10.88
10.72
10.94
10.91
11.01
11.04
11.23
11.31
11.58
3
5.59
3
5.60
r3
3
8.11
3
7.99
3
7.78
10.53
10.23
'9.80
10.55
10.43
10.04
10.29
10.32
10.09
10.01
10.01
9.85
9.94
9.96
9.73
9.90
9.87
9.64
9.99
9.82
9.31
10.62
10.39
r
9.68
11.70
11.60
10.43
13.44
13.23
11.50
13.53
13.26
12.00
13.31
12.80
11.68
7.221
3
8.30
8.787
8.97
9.122
9.23
9.351
9.36
9.265
9.16
9.457
9.25
9.493
9.32
9.262
8.88
9.450
9.08
10.182
9.56
11.472
10.75
11.868
10.98
12.071
10.45
600
2
2
6.93
8.83
9.36
5.50
3
5.265
3
6.85
3
r
9.98
9.98
9.74
9.579
9.30
r
9.79
9.71
9.39
9.045
8.89
r
10.96
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
1978
Annual
January 1980
Nov.
1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
FINANCE—Continued
CONSUMER INSTALLMENT CREDIT t
Total extended and liquidated:
Unadjusted:
Extended
Liquidated
Seasonally adjusted:
Extended total #
By major holder:
Commercial banks
Finance companies
Credit unions
Retailers
By major credit type:
Automobile
Revolving
Mobile home
Liquidated total $
By major holder:
Commercial banks
Finance companies
Credit unions
Retailers
. .
mil $..
do....
21,999
21,317
26,461
24,027
27,016
22,896
29,762
25,022
28,023
23,482
27,702
24,506
30,508
25,747
26,987
22,898
28,094
26,779
26,239
23,815
26,516
25,548
26,452
26,533
27,009
27,901
26,139
26,848
27,583
28,634
27,695
26,464
12,521
4,695
3,526
3,612
12,153
4,551
3,241
3,565
12,430
5,072
3,238
3,460
12,412
4,958
3,250
3,611
13,111
5,239
2,753
3,742
13,400
5,186
3,124
3,721
12,278
4,641
2,986
3,853
12,292
5,353
3,282
3,687
12,700
5,133
3,361
3,921
13,172
5,489
3,363
4,082
12,718
5,642
2,942
3,930
11,738
5,105
2,808
4,161
do
. do....
do
7,833
9,424
502
22,117
7,549
9,417
369
7,999
9,722
510
23,581
7,667
10,371
655
25,137
24,188
7,676
10,424
582
25,509
7,066
10,613
515
22,904
7,447
9,856
519
24,405
8,430
10,699
531
22,908
8,260
10,039
668
24,595
7,178
10,136
547
22,481
7,756
9,357
454
22,889
7,794
9,714
518
do
7,788
9,176
486
22,124
24,057
do
do....
do....
do . .
10,551
3,503
2,751
3,385
10,441
3,598
2,753
3,416
10,823
3,204
2,881
3,655
10,800
3,612
2,836
3,681
10,947
3,730
2,722
3,468
10,994
3,861
2,614
3,436
11,735
4,293
3,000
3,438
11,294
3,728
2,842
3,565
11,630
4,168
2,940
3,507
11,834
4,584
2,970
3,589
11,651
3,716
2,952
3,639
11,947
4,566
3,094
3,595
11,455
3,765
2,852
3,684
.
do....
do .
do....
do....
230,829
7,035
7,073
6,607
6,053
6,191
6,308
6,612
6,488
6,831
6,533
5,868
7,189
9,040
9,290
9,340
9,427
9,584
9,642
9,814
8,555
8,984
8,972
8,804
9,760
398
445
447
412
329
434
473
442
432
431
410
428
275,629 269,436 275,629 275,337 276,019 278,453 282,575 287,315 291,856 295,052 299,813 303,902 305,217 307,641
do....
do
do....
do ..
112,373
44,868
37,605
23,490
136,189 133,908 136,189 136,452 136,671 137,445 139,843 142,102 144,035 145,169 147,312 148,657 149,152 149,057
54,298 53,090 54,298 54,995 55,929 56,991 58,334 59,635 60,996 62,463 63,362 64,822 65,692 67,164
45,939 45,305 45,939 45,526 45,661 46,301 46,322 46,832 47,478 47,772 48,631 49,214 48,770 48,673
24,876 23,006 24,876 23,962 23,246 22,929 23,097 23,421 23,672 23,713 24,114 24,446 24,860 25,732
do
do....
do
82,911
39,274
15,141
102,468 101,565 102,468 102,890 103,780 105,426 107,186 109,211 110,930 111,952 113,351 114,765 114,876 115,121
47,051 43,523 47,051 46,516 45,586 45,240 45,781 46,489 47,458 47,894 49,270 50,422 50,883 52,060
16,042 16,017 16,042 16,004 16,008 16,092 16,198 16,453 16,607 16,719 16,972 17,105 17,244 17,349
6,033
8,511
411
mil. $.. 1357,762 1'401,997 33,227 37,477 38,364 32,639 31,144 52,230 38,287 53,910 33,268 39,353
'402,725 450,836 39,134 41,392 41,095 37,739 43,725 40,752 41,618 40,687 40,482 54,279
do
do.... 1-44,963 '-48,839 -5,907 -3,915 -2,731 -5,100 -12,581 11,478 -3,331 13,223 -7,214 -14,926
5,100 12,581 -11,478
3,331 -13,223
7,214 14,926
5,907
3,915
do.... 1'44,963 '48,839
2,731
-668
1,806 -1,458
4,831
3,268
5,236
3,533
8,012 -4,965
53,516 '59,106
do
3,312
5,768
1,525 11765
2,383 11,658
671
382
4,569 -6,513
'-S,553 '-10,267
do
-581
'780,425 791,563 797,694 798,733 800,470 804,624 804,046 812,220 812,247 814,740 820,385
do.... '709,138
1
551,843 '610,948 622,669 626,202 629,513 628,845 636,857 631,893 633,698 632,241 637,072 640,339
do
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance cos
bil. $..
Government securities
do
Corporate securities
do
Mortgage loans total
do....
Nonfarm
do
Real estate
do....
Policy loans and premium notes
do....
Cash
do
Other assets
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....
22,609
22,901
12,211
4,519
3,530
3,571
Budget receipts by source and outlays by agency:
Receipts (net) total
mil $ '357,762
Individual income taxes (net)
do.... 457,626
Corporation income taxes (net)
do.... '54,892
Social insurance taxes and contributions
(net)
mil $.. 1 108,688
'36,556
Other
do
'402,725
Outlays total #
do
46,738
Agriculture Department
do
'95,650
Defense Department military
do
Health, Education, and Welfare
Department
mil. $.. 447,455
1
Treasury Department
do
50,384
'3,944
National Aeronautics and Space Adm
do....
48,019
Veterans Administration
do
See footnotes at end of tables.
27,494
21,301
25,956
.
Gross amount of debt outstanding
Held by the public
25,707
22,087
do....
By major credit type:
Automobile
Revolving
. ..
..
Mobile home
Total outstanding, end of year or month #
By major holder:
Commercial banks
Finance companies
.
Credit unions
Retailers
By major credit type:
Automobile
Revolving
....
Mobile home
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
298,351
253,541
do....
do....
do
do....
. .
. ..
254,071
218,793
47,295 33,099
29,625 47,807
17,670 -14,708
-17,670 14,708
4,250
2,217
-21,920 12,491
833,751 833,999
644,589 646,806
'401,997
480,988
'59,952
33,227
16,609
1,048
37,477
16,066
10,386
38,364
23,667
2,146
32,639
14,509
1,281
31,144
8,255
9,301
52,230
25,029
9,767
38,287
14,575
1,403
53,910
25,568
15,640
33,268
17,086
2,019
39,353
17,215
1,368
47,295
23,341
9,633
33,099
18,682
1,476
423,410
'37,647
11,923
3,647
7,716
3,309
13,614
3,235
18,652
3,657
17,164
3,605
10,809
3,512
9,384
3,557
41,392
2,859
9,383
37,739
1,712
8,920
40,752
9^329
41,618
1,178
9,830
9,375
3,326
40,687
550
9,838
10,566
3,597
39,134
2,654
9,224
10,373
3,216
43,725
1,724
9,979
14,165
3,269
'450,836
'20,368
403,042
9,429
3,121
41,095
3,352
9,218
40,482
1,093
10,256
54,279
913
10,547
29,625
904
9,353
47,807
1,712
10,180
462,856
'56,355
'3,980
48,962
14,512
3,990
350
1,665
15,017
7,479
333
2,648
14,416
5,068
354
754
14,584
4,470
365
1,620
15,762
4,399
389
2,715
14,728
6,363
198
837
15,384
4,718
366
1,691
15,282
8,204
389
2,495
15,054
5,557
341
664
25,930
4,582
413
2,556
6,413
4,031
387
597
16,389
6,235
384
1,807
386.38
26.63
191.56
103.94
93.58
11.67
29.78
1.58
21.22
389.92
26.55
191.56
106.17
95.67
11.76
30.15
2.37
21.37
394.18
27.09
195.01
106.55
96.04
396.19
27.22
196.34
107.38
96.71
400.08
27.56
197.80
108.42
97.50
402.96
27.84
198.83
109.20
98.12
405.63
28.00
200.16
110.02
98.77
409.85
28.18
202.02
111.12
99.65
11.94
30.78
1.42
21.60
11.99
31.16
1.25
21.91
12.09
31.51
1.57
21.92
12.10
31.83
1.35
22.16
12.20
32.13
1.55
22.65
12.74
32.71
1.37
22.70
421.66
28.92
207.96
114.37
102.50
12.74
33.05
1.46
23.16
423.76
29.16
207.46
115.99
104.00
11.86
30.47
1.57
21.53
414.12
28.47
204.87
112.12
100.55
12.35
32.39
1.50
22.42
418.35
28.73
207.00
113.10
101.38
11.06
27.56
2.13
18.92
389.92
26.55
191.56
106.17
95.67
11.76
30.15
2.37
21.37
367,335
242,842
117,960
6.533
407,042
279,044
121,729
6.269
34,801
24,321
9,946
534
49,497
28,484
20,573
440
32,111
21,480
10,200
432
31,459
22,204
8,842
413
38,278
26,819
10,913
546
33,739
26,097
7,118
523
37,131
27,798
8,821
512
41,499
27,336
13,692
471
35,420
25,922
9,080
418
40,554
27,463
12,605
487
37,921
24,370
13,160
392
48,607
29,543
18,624
439
351.72
23.56
171.65
96.85
88.01
12.82
33.57
1.36
23.40
Dec.
SURVEY OF CURRENT BUSINESS
January 1980
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
1979
1978
Nov.
Annual
S-17
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FINANCE—CONTINUED
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U.S. (end of period)
Net release from earmark §
Exports
Imports
Production:
South Africa
Canada
Silver:
Exports
Imports
Price at New York
Production:
United States
mil. $..
11,671 11,642
11,719
do ...
525
426
23
thous. $.. 1,042,625 1,113,795 207,133
674,026 903,023 74,477
do
1
11,671 11,592 11,544 11,479 11,418 11,354 11,323 11,290 11,259 11,228 11,194 11,112
62
15
16
6
20
25
25
34
26
2
41
23
18,078 247,736 292,397 349,738 332,623 441,315 309,958 460,706 439,920 306,368 713,427 825,793
75,253 53,828 37,323 56,015 40,511 123,863 114,203 84,965 142,479 151,742 183,900 257,540
951.6
*73.7
955.4
70.4
79.4
5.8
74.3
6.1
77.3
78.1
80.6
79.8
82.3
79.7
80.2
81.0
thous $
do .
dol. per fine oz..
84,645
354,818
4.623
119,125
389,015
5.401
8,444
29,985
5.866
5,539
30,556
5.928
8,873
32,158
6.255
15,264
38,667
7.417
11,213
95,502
7.445
6,443
29,122
7.492
12,462
61,630
8.373
13,940
50,062
8.538
10,668
52,809
9.135
7,914
43,843
9.334
thous. fine oz..
27,519
1,645
112.1
3,870
114.6
1,467
110.7
1,690
111.3
2,473
1,679
113.2
1,759
2,346
116.6
2,231
103.8
23,972
114.6
117.9
1,247
118.9
327.4
84.8
242.6
517.1
4.2
352.8
93.2
259.6
r
580.6
5.4
'362.7
r
97.4
'265.4
'606.5
r
8.1
r
368.7
99.9
'360.3
100.6
'259.7
r
625.3
8.4
r
r
267.7
r
369.5
101.8
'375.4
103.2
'272.2
'630.1
13.2
'373.0
103.9
r
269.1
'637.3
9.8
r
r
r
r
r
'375.6
103.6
r
272.1
r
637.3
mil. $..
do
.
Currency in circulation (end of period)
bil. $..
Money supply and related data (avg. of daily fig.):
Unadjusted for seasonal variation:
Total money supply
bil $
Currency outside banks
do....
Demand deposits
do
Time deposits adjusted f
do....
U.S. Government demand deposits
fl
do....
Adjusted for seasonal variation:
Total money supply
do....
Currency outside banks
do
Demand deposits
do....
Time deposits adjusted
fl
do....
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade Comm.):
Net profit after taxes, all industries
mil. $..
Food and kindred products
do
Textile mill products
do....
Paper and allied products
do....
Chemicals and allied products
do....
Petroleum and coal products
do....
Stone clay and glass products
do
Primary nonferrous metal
do....
Primary iron and steel
do
Fabricated metal products (except ordnance,
machinery, and transport, equip.)
mil. $..
Machinery (except electrical)
do
Elec. machinery, equip., and supplies
do....
Transportation equipment (except motor
vehicles, etc.)
mil. $..
Motor vehicles and equipment
do....
All other manufacturing industries
do....
Dividends paid (cash) all industries
do
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total
By type of security:
Bonds and notes, corporate
Common stock
Preferred stock
mil. $..
360.7
r
96.7
264.0
r
610.2
371.6
r
99.3
r
272.3
r
612.6
10.3
361.5
'97.7
'263.8
r
614.1
r
365.9
'97.6
r
268.3
r
618.8
r
!2.0
r
360.2
'98.4
r
261.8
r
619.3
r
112.0
352.6
r
97.7
'254.9
'622.1
'8.4
354.8
r
98.7
'256.1
r
625.3
6.5
r
r
'360.0
'99.5
r
260.5
r
622.9
'365.5
100.2
'265.3
r
623.9
359.4
r
99.0
r
260.4
r
623.6
r
r
268.8
r
625.4
5.3
115.4
365.7
100.7
'265.0
'623.2
625.5
10.8
370.3
101.5
r
268.7
r
623.6
373.5
102.4
'271.1
r
629.8
2,388
r
377.0
104.6
'272.4
r
644.7
12.5
'379.8
105.2
'274.6
'653.9
11.7
382.6
106.6
276.0
658.7
5.5
392.8
108.1
284.7
662.8
9.5
r
'380.0
105.4
'274.6
'654.4
380.5
105.8
274.6
662.8
382.1
106.3
275.8
664.9
'4,283
1,930
3,323
1,493
379.2
104.9
274.4
'645.4
r
24,771
2 171
381
1,162
2,630
12,179
1,686
873
864
12,805
2,353
1,362
2,124
3,667
660
469
591
3,938
291
601
617
5,221
755
745
966
5,712
776
606
743
3,458
9,131
5,383
3,815
967
3042
1759
1,028
2,710
1,807
1,280
10,746
6,500
3,042
1943
1,094
2816
1731
1,989
6,133
11,840
26,585
2,374
6,211
13,760
28,932
712
1699
3,726
658
2,164
3,524
864
1917
3,937
8,560
7,130
8,173
56,438
51,093
4,660
4,851
3,556
4,778
4,965
5,585
122.1
801
-51
4,199
8,088
5,888
r
3,983
r
2,863
606
392
r
3,861
1,013
102
879
r
3,982
5,216
2,425
1,055
'401
3,430
589
698
3,881
1,166
156
r
731
4,717
1,489
509
1,397
325
95
1,134
r
237
r
337
'733
155
671
342
4,483
1,660
3,287
1,571
4,003
1,546
2,588
2,553
4,153
476
11,314
11,763
12,019
12,236
12,178
11,483
840
2.590
895
2.880
885
3.025
910
2.995
960
3.325
950
3.490
2,436
577
149
3,393
826
424
3,345
763
171
2,029
712
201
4,056
441
231
4,186
424
155
3,694
418
174
4,662
613
278
mil $
do....
do
do....
51,836
13,754
2,682
13,705
46,764
11,065
3,114
12,336
3,162
840
53
761
4,643
1,323
465
664
4,279
934
420
917
2,942
399
142
1,086
4,728
763
101
1,331
4,765
822
171
1,135
4,286
1,293
182
865
5,553
1,193
349
1,373
r
Transportation
do
Communication
do
Financial and real estate
do....
State and municipal issues (Bond Buyer):
Long-term
do....
Short-term
do
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at brokers, end of year
or month
mil $
Free credit balances at brokers:
Margin accounts
do....
Cash accounts
do....
See footnotes at end of tables.
1,802
4,442
11,690
1,763
3,638
10,958
66
457
814
221
460
978
120
429
1,214
222
558
304
235
582
1,363
302
261
1,905
206
109
1,342
295
409
1,452
45,060
21,349
46,215
21,642
4,026
978
3,854
2,077
2,695
1,596
2,502
1,546
4,525
1,354
3,138
4,406
2,917
762
9,993
11,035
11,209
11,035
10,955
10,989
11,056
11,416
640
2.060
835
2.510
790
2.305
835
2.510
810
2.565
775
2.430
830
2.490
835
2.550
2,334
120.1
26,785
1,918
355
917
2,925
35,975
7,956
2,832
- 3 - S3
21.793
2,036
118.7
22,637
1,457
246
867
2,729
39,879
8,047
3,916
-
32,057 78,682 166,741
77,986 202,189 120,781
13.959 16.781 16.603
22,603
1797
307
734
2,473
do....
do....
do ...
307-688 0
74.3
81,148
6,213
1,170
2,598
9,117
3,413
80.6
80.6
70,366
5,575
828
2,367
8,060
r
By type of issuer:
Corporate total #
Manufacturing
Extractive (mining)
Public utility
80.6
r
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
1979
1978
Nov.
Annual
January 1980
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:
55.6
Composite §
dol. per $100 bond59.6
77.9
Domestic municipal (15 bonds)
do....
81.3
5126
5689
U S Treasury bonds taxable tl
do
Sales:
New York Stock Exchange, exclusive of some
stopped sales face value total
mil $ 4 646 35 4 554 01
Yields:
Domestic corporate (Moody 's)
By rating:
Aaa ...
Aa
A
Baa
By group:
Industrials
Public utilities
Railroads
Domestic municipal:
Bond Buyer (20 bonds)
Standard & Poor's Corp. (15 bonds)
U.S. Treasury bonds, taxable $
54.3
76.6
4954
53.3
73.8
4838
52.8
74.6
4797
52.6
75.1
4797
52.2
75.4
4784
52.3
75.6
4789
51.9
76.0
4724
53.5
77.0
4861
53.4
76.4
4839
53.0
75.9
4801
51.8
73.2
(2)
47.8
68.2
45.8
66.4
46.1
67.2
33459
32023
32973
23552
27546
27900
28925
30501
28072
36870
31025
44863
46643
499 19
8.43
9.07
9.40
9.49
9.65
9.63
9.76
9.81
9.96
9.81
9.69
9.74
9.93
10.71
11.37
11.35
do
do
do
do
802
824
8.49
897
873
892
9.12
949
903
924
948
983
9 16
933
953
994
925
948
9.72
10 13
9.26
950
9.68
1008
937
961
9.81
1026
938
965
9.88
1033
9.50
986
10.00
1047
9.29
966
9.89
1038
9.20
949
9.75
1029
9.23
953
9.85
1035
9.44
970
10.03
1054
10.13
1046
10.83
1140
10.76
11 22
11.50
1199
1074
11 15
1146
1206
do
do
do
8.28
858
8 13
8.90
922
8.64
921
958
901
931
967
9 15
944
985
921
9.42
984
9.22
9.50
1002
930
9.57
1005
9.38
9.69
1023
9.48
9.57
1004
9.44
9.47
990
9.45
9.52
997
9.48
9.66
10 19
950
10.28
11 13
9.89
11.00
1173
10.35
1102
1168
1044
do
. . do
567
5.56
607
5.90
629
603
622
625
627
6.14
6 16
6.10
6 12
5.99
6 14
6.05
636
6.10
656
6.40
726
6.98
726
7.19
732
709
7.89
8.16
8.43
642
6.19
8.43
628
6.16
7.06
661
633
8.36
8.45
8.44
8.55
8.32
8.35
8.42
8.68
9.44
9.80
9.59
30170
894.62
11096
225.16
282.59
817.17
10424
221.80
27407
804.29
9840
211.93
27487
807.94
9938
211.12
28385
837.39
10224
216.85
280.06
825.18
10375
210.41
28650
847.84
10385
216.44
29469
864.96
10323
231.81
286.65
837.41
10026
227.92
293.01
838.65
104.59
239.68
297.04
836.95
10743
248.42
31060
873.55
10880
265.75
30944
878.50
10703
262.04
293.20
840.39
10268
241.91
28766
815.78
10269
239.49
29888
836 14
108 17
25327
98.20
108.44
106.79
85.27
96.02
106,16
104.38
84.80
94.71
105.23
103.38
81.71
96.11
106.92
105.82
82.53
99.71
111.15
112.08
84.42
98.23
109.49
110.66
81.80
100.11
111.66
114.50
82.70
102.07
113.95
116.32
84.03
99.73
111.24
113.76
81.79
101.73
112.98
114.76
83.30
102.71
113.63
114.08
82.40
107.36
118.93
119.82
87.54
108.60
121.06
119.95
88.06
104.47
116.95
114.66
83.76
103.66
116.12
113.39
81.48
107.78
120.78
119.27
84.52
5423
14.06
4994
11.63
47.34
98.23
112.42
5164
13.81
4535
11.53
43.70
100.99
106.96
4904
13.17
4356
11.21
43.61
9993
101.35
4932
13.10
4337
11.36
43.19
100.78
105.07
5033
13.46
4445
11.68
44.12
102.32
108.73
5074
13.08
4492
11.28
41.91
97.54
108.22
5062
13.48
4664
11.63
42.54
99.28
116.11
5009
14.18
4975
11.97
44.24
101.93
118.88
4865
14.07
4988
11.85
44.18
100.47
117.03
50.57
14.65
5260
12.51
44.93
104.76
120.67
51.73
15.20
5473
13.01
46.61
109.29
122.13
5252
16.18
5762
13.69
49.26
117.81
125.91
51 16
15.72
5600
13.39
47.44
113.53
125.33
4905
14.64
53 18
12.32
43.04
104.08
120.03
4879
14.50
5423
12.08
42.03
101.87
119.87
5050
15.23
5690
1250
43.50
10544
125.81
5369
57.86
41.08
4092
55.25
5370
58.23
43.50
3922
56.65
5274
5750
41.80
3788
54.95
5369
5872
42.49
3809
55.68
5577
6131
43.69
3879
57.59
5508
60.37
42.27
3921
56.09
56 19
6189
43.22
3894
57.65
5750
63.63
45.92
3863
59.50
5621
62.21
45.60
3748
58.80
5761
63.57
47.53
38.44
61.87
5838
64.24
48.85
38.88
64.43
61 19
6771
52.48
3926
68.40
6189
69 17
52.21
3839
67.21
5927
66.68
48.09
3658
61.64
5902
66.45
47.61
3655
60.64
6175
6982
50.59
3729
63.21
4.62
443
7.39
3.98
430
7.61
5.28
506
8.33
4.49
5.03
545
5 18
898
4.82
540
539
5 13
899
4.99
538
528
499
894
4.92
535
5.43
5 15
8.96
5.07
5.59
5.36
508
897
4.89
545
5.35
507
909
4.65
550
5.58
530
9.42
4.78
567
5.50
526
8.92
4.48
5.42
5.30
507
8.88
4.21
503
5.31
505
920
4.38
5 15
5.56
527
9.68
4.71
5.64
5.71
542
9.71
4.74
5.75
8.24
8.43
8.84
8.79
8.77
8.77
8.75
8.82
5.53
527
9.07
4.60
5.50
8.87
8.93
9.02
9.13
9.46
9.95
10.06
187,203
7023
249,257
9602
20091
788
16820
654
20,752
754
17,595
629
23,356
851
22769
839
22,006
811
25,683
962
25,243
924
26,152
924
33,846
1 168
157 250
5,613
210 426
7,618
17248
637
14078
522
17868
615
14953
514
19613
688
19 191
671
18252
635
21318
754
21360
751
25477
908
21725
740
28526
932
5274
7205
515
493
616
476
650
621
624
728
681
825
714
858
654
710
79664
26.093
82274
27.573
81160
27.401
82274
27.573
85865
27.626
82879
27.726
87786
27.837
88200
27.970
86340
28.216
90156
29.285
91284
29.371
964 41
29.504
96130
29.558
89293
29.713
94078
29.856
96061
30.033
percent..
do....
Stocks
Prices:
Dow-Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks)
Standard & Poor's Corporation: §
Combined index (500 Stocks)
1941-43=10..
Industrial, total (400 Stocks) #
do....
Capital goods (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..
NewYorkCity banks(6 Stocks) 1941-43=10..
Banks outside N.Y.C. (10 Stocks)
do....
Property-Casualty Insurance (6 Stocks) do....
New York Stock Exchange common stock indexes:
Composite
12/31/65—50
Industrial
.
....
do
Transportation
do....
Utility
do
Finance
do....
Yields (Standard & Poor's Corp.):
Composite (500 stocks)
percent .
Industrials (400 stocks)
do
Utilities (40 stocks)
do
Transportation (20 stocks)
do....
Financial (40 stocks)
do
Preferred stocks, 10 high-grade
do....
Sales:
Total on all registered exchanges (SEC):
Market value
mil $
Shares sold
millions
On New York Stock Exchange:
Market value
mil $
Shares sold (cleared or settled)
millions..
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
(sales effected)
millions
Shares listed, N. Y. Stock Exchange, end of period:
Market value all listed shares
bil $
Number of shares listed
millions..
r
30
295
r
l 125
r
FOREIGN TRADE OF THE UNITED STATES
VALUE O F EXPORTS
Excl. Dept. of Defense shipments
Seasonally adjusted @
By geographic regions:
Asia
Australia and Oceania
Europe
Northern North America
Southern North America
South America
See footnotes at end of tables.
1
143,659.9 13,672.3 13,532.9 12,561.3 12,932.5 15,586.7 14,267.3 14,818.9 15,365.9 14,731.8 15,009.4 14,939.6 17,283.2 17,320.3
do.... 121,150.4 443,574.6 13,655.4 13,531.0 12,558.1 12,928.5 15,584.4 14,257.0 14,812.9 15,344.5 14,725.7 14,975.1 14,919.6 17,275.5 17,301.2
13,450.6 13 282 5 13 131 8 13 506.8 14 452 0 13 882.6 13,862.1 15 037.6 15 668.9 158207 15 832 4 16 838.1 170035
do....
Exports (mdse.), incl. reexports, total @ @ .... mil. $.. 121,212.3
58855
55456
31 435 8 39,628.2
28765
34621
37 304 2 43 614.9
do.... 25,791.4 28,373.1
do.... 8,676.5 11,026.5
. do
92835 10 989.5
do
do
do
5060
4273
5043
4256
37200 39103 33588 3 669.6
4332
3039
3959
274 1
43084 4 1540 40483 42222
2,583.7 2,512.3 2,424.8 2,378.9
1,109.6 1 051.6 1,028.0 1,041.9
10235 10726
8799
8398
5295
4800
5362
4 052.6 4 375.5 42717
3526
3156
3136
48855 46096 47842
3,052.8 2,804.8 2,919.6 2,941.0 2,527.7 2,519.4
1,152.7 1 178.4 1,179.1 1,330.3 1,119.0 1 333.9
10212
9713 10073 1 1769 12220 1 1834
5242
4584
4 1979 38276
3349
3364
53029 45954
4973
37370
3615
49988
6242
4778
6406
40880 43038 43204
341 4
414 5
4397
48170 5 6 0 8 3 63107
2,777.3 3,347.3 2,895.3
1 1887 1,446.0 1360.1
1 1617 13855 12733
SURVEY OF CURRENT BUSINESS
January 1980
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
Annual
S-19
1979
1978
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS—Continued
Exports (mdse.), incl. reexports—Continued
By leading countries:
Africa:
Egypt
mil $
Republic of South Africa
do....
Asia; Australia and Oceania:
Australia including New Guinea
India
Pakistan
Malaysia
Indonesia
Philippines
Japan
do
do ..
do
do....
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
1135
108.2
1407
108.9
1225
122.3
828
122.0
29419
2865
3827
254 7
340 7
2322
2855
9479
636
847
1104
983
740
612
73 g
4957
21 1
649
42 0
53 9
60 1
7284
580
664
580
61 3
778
667
7514
763.2
748
712
48 1
53 1
44 4
51 7
8759
1 0400
1093
996
1126
100 4
115 1
1309
10 528 9 12 885 1 1369 1 12808 12252 13654 16097 13172
3122
577
246
764
1073
1302
12577
2949
736
38 1
894
2595
826
702
749
Beverages and tobacco
794
1092
112 1
1479
15052 15848
985
109.2
1159
146.5
785
125.3
1795
128.3
2830
3446
3817
1066
929
885
455
282
153
84.6
86.1
87.8
99.4
73.8
107.7
73.0
131 7
1344
1465
134 1
14492 1 539.9 1 521.2 1 597.5
2582
1720
450
799
431 4
3752
4435
3687
5466
4707
410 4
4386
3925
4399
4888
544 4
1704
306
237
99
66
329
262
33 1
31 1
92
174
262
340
617
5,988.8
27896
1,627.5
5,950.9
6 956.9
694.7
685.4
626.5
606.5
811.2
647.6
679.5
650.9
610.1
673.5
680.9
33604
2,252.3
7 118.7
286 5
79.4
7615
3730
121.2
6206
3140
152.1
7724
315 6
174.5
8123
406 3
271.0
962 1
3635
273.7
8645
3785
234.6
866.6
3649
352.4
766.5
2735
364.5
903.5
3460
341.3
860.8
2963
312.5
848.4
832.6
4132
325.8
1,000.7
813.6
411 8
378.3
1,113.0
25 788 1 28 371 6 25836 2512 1 24247
16 371 1 20 182 7 19523 19505 17535
731.1
8418
793
1213
1479
24898
29783
2892
2538
1866
520.2
7246
71 1
903
534
7820
10460
111 1
116 1
800
4,806.1
66805
7053
6639
6594
3 1705
37269
3276
3204
281 1
do 119 005 5 141 154 2 13 433 5 13 303 9 12 352 5
do.... 1189437 141 068 9 13 416 5 13 302 1 12 349 4
do.... 23,671.0 29,406.9 2,806.7 2,738.3 2,431.9
do.... 94,291.8 111,747.2 10,626.8 10,565.6 9,920.6
23787
17202
843
2079
569
912
6783
2659
30528 28046 29196 29409
19740 1969 1 20012 23209
992
112 1
1430
1249
2729
2329
2289
2546
53 1
503
569
866
992
1023
1089
1816
711 1
7632
7553
9053
330 1
3534
3129
3436
12 708 7
12 704 7
2 356.4
10,352.3
15 300 1
15 297 8
2 877.3
12,422.8
do....
do
do....
do
mil $
do....
do
14,115.7
796.9
87548
18468
13,086.3
15295
4,393.2
1 1970
4 1836
2,730.4
12756
do
Chemicals
do
13087
10 812 3
Manufactured goods #
Textiles
Iron and steel
Nonferrous base metals
do
do
do
do. .
10 857 0
19589
16605
10584
1733
103.6
4 1663
do
.
130 3
103.5
23756
7786
2927
5607
Oils and fats animal and vegetable
See footnotes at end of tables.
767
85.9
do
do....
do
do....
do
do....
do
Crude materials, inedible, exc. fuels #
Cotton raw excl linters and waste
Soybeans, exc. canned or prepared
Metal ores concentrates and scrap
Mineral fuels lubricants etc 4£
Coal and related products
Petroleum and products
Northern North America
Southern North America
South America
By leading countries:
Africa:
Egypt
Republic of South Africa
1156
112.3
36 1
Exports of U S merchandise total §
Excluding military grant-aid
Agricultural products, total
Nonagricultural products, total
By commodity groups and principal
commodities:
Food and live animals #
mil. $..
Meats and preparations (incl. poultry) .... do....
Grains and cereal preparations
do
Machinery total #
Agricultural
Metalworking
Construction excav and mining
Electrical
Transport equipment total
Motor vehicles and parts
Miscellaneous manufactured articles
Commodities not classified
VALUE OF IMPORTS
General imports total
Seasonally adjusted @
By geographic regions:
Africa
Asia
Australia and Oceania
Europe
806
90.6
do
Latin American republics total #
Argentina
Brazil
Chile
Colombia
Mexico
Venezuela
Machinery and transport equipment,
total
1 134 1
1,079.6
35032
do
do....
do....
North and South America:
Canada
.. .
9824
1,054.4
1
18,333.2 1,513.7
957.8
95.0
11 634 0
8852
50 247 6 *59 257 9
do
32 516 6 37 022 3
do
1 871 1 2 151 5
do
7303
1 188 4
4 405 5
do
681 8
do
10 285 3
do
18 520 0 22 248 0
do.... 11,796.5 13 234.9
do
82339 '10 177 1
do
43136 '5 006 8
15 102 6
15 081 1
2,760.6
12,342.0
54973
1,555.2
88.6
9454
57135
5040 1 53943
6325 1 58439
60472
32967 35538 3 1607 33243
167 3
183 1
184 2
193 0
1004
1215
893
111 6
79 6
74 9
52 3
660
609 8
603 5
636 3
642 3
22006 2 1603 18797 2072 0
12072 1 1354 1 1086 12505
925 1
9216
8732
9168
6253
4072
6386
5840
39717 35802
275 3
259 9
1196
1067
107 9
117 6
703 6
748 3
2 354 4 22648
13954 l'259.0
1 1332
9653
6845
688 1
3806 1
267 5
1393
105 4
7387
22430
1 451.5
10717
764 1
5984 1 56510
3875 1 35568
2350
2247
1200
1290
114 4
105 7
7502
6737
2 1259 20957
1,399.9 1,037.2
9976
10748
8218
6674
2,056.5 2,384.3 2,194.9
93.6
99.2
103.9
13767 15994 14429
2816
1418
1840
1,555.6 1,9*40.8 2,323.0
1365
1278
214 1
640.0
834.5
313.8
2802
3858
2925
5215
4380
5674
319.1
272.3
389.2
1506
1673
1862
1664
1637
1466
16527
14392
13607 15656
283.1
311.2
202 1
2260
114.2
142.6
15076
288.2
2039
148.1
15896
56007
56454
36650
2149
108 1
123 6
7092
19572
1,019.6
10389
776.3
36776
1942
1112
100 3
7386
19769
1,200.5
1 080.0
635.0
r
6 348 6
40673
2249
110 1
1257
790.6
2 283.9
1,454.3
1,157.4
1,043.5
6 1682
3 885.3
1939
121.1
895
741.5
2,284.3
1,345.9
1,173.2
1,172.0
147 685 0 172 025 5 15 054 9 14 956 3 15 846 3 13 776 3 15 764 8 16 172 0 16511 5 17 435 6 17 1150 17 931.0 18,075.5 19,243.3 18,658.1
14 824 7 15 031 8 16 231 1 14 806 3 15 273 3 16 035 8 16 341 9 16 937 4 16 776 6 18 177.3 18,665.8 18,856.0 18,421.6
do
17 120 9
do.... 49,312.0
do
17277
28 801 5
do
do.... 29,617.8
do
11 689 4
do.... 9 389.8
do....
do....
14 534 9
14 529 0
2,509.1
12,025.8
25194 2777 1 33473 28953
2 1699 23439 2 1829 26313 24535
151.9
307.2
199.0
1554
145.6
3247
3477
3294
3418
3218
929
72.6
99.8
93.5
810
1195
954
128 1
1270
1280
7997
9684
954.3
7189
9249
3539
3156
3116
3438
2894
14 496 0 14 748 5 14 686 3 16 998 7 16 966 8
14 489 9 14 714 1 14 666 3 16 991 0 16 947 7
2,715.2 2,735.4 2,734.7 3,507.9 3,783.9
11,780.8 12,013.0 11,951.6 13,490.8 13,182.8
25277
1,313.3 1,314.3 1,581.0 1,528.1 1,584.8 1,905.2 2,053.3 2,055.9
78.8
947
86.8
90.0
106.9
88.1
87.5
77.2
7669
7886
9299
9608 10394 12253 13972 13997
1
178 1
2 292 8
281 1
2597
2232
2023
183 1
1758
1764
1354
1712
1
15,552.8 1,678.4 1,556.5 1,550.4 1,513.5 1,837.5 1,668.0 1,626.7 1,605.2 1,434.6 1,539.4
17396
1125
198 1
1747
1972
1335
1487
1543
1750
1924
1887
5,210.4
696.7
517.1
319.0
260.3
313.9
493.7
557.3
393.5
644.4
349.4
18389
2014
248 1
296 1
2900
202 1
1825
201 9
2266
2119
2963
5340
4963
*3 878 3
4659
4179
4670
4712
4998
3502
2920
4357
316.7
330.0
328.3
2,122.6
317.8
236.3
202.4
258.8
279.6
325.9
154.0
1884
1488
15613
1373
1633
138 2
169 1
1393
1574
119 7
152 3
X
171 3
1876
1576
140 1
15213
1210
147 0
129 6
104 4
145 8
173 2
1126183 1 174 4 1 137 0 12356 1 155 6 1 522 3 1 289 8 13208 15132 14332 1 5468
1124303 1 134 3 1 1866 1 121 5 1 135 3 1 384 1 1 228 5 13550 1468 1 12303 1 341 6
2437
262.5
2869
22254
2309
2240
2388
2668
2190
2226
2638
2018
1940
1 7139
1490
174 7
1988
184 5
183 8
2084
153 7
157 2
116.9
124.1
10478
1532
104 4
1047
1280
1135
1293
1263
141 4
mil $
do
do
14 020 8
14 010 5
2 651.5
11,369.4
5334
170.0
1.261.1
16 898 3
58,300.3
23510
37 987 4
33,550.6
12 622 6
10 307 5
105.0
2.258.9
16377 1 481 6
4,863.0 4,872.8
2529
2006
32939 32988
3,030.4 3,051.5
10757 1 1176
932.4
9009
14.1
349.8
27.2
210.7
17386
5,364.6
2305
32638
2,914.4
12267
1,106.8
13412
4,559.1
2199
27105
2,885.5
1 1514
908.1
1651 1
4,803.7
253.0
34589
3,373.6
12858
938.1
16.9
197.4
7.5
161.7
35.1
196.8
18350 17957 18084
5,233.8 4,946.8 5,772.2
2777
263.7
285.2
35742 35698 3986 1
2,968.5 3,508.1 3,096.4
12394 1 418.2 1,395.7
1,042.9 1,008.7 1,091.4
14.9
214.1
21.4
256.9
55.1
203.0
2 053.1
5,677.3
264.5
37849
2,914.5
1,362.6
1,057.8
19.5
208.9
2,193.1 2,514.3 2,571.3 2,147.6
6,156.5 6,002.0 6,466.8 5,849.1
190.1
290.5
260.9
232.1
3 784.2 3,385.7 3,589.6 4,001.1
2,886.2 3,164.5 3,438.0 3,544.1
1,480.3 1,580.8 1,813.2 1,561.0
1,169.3 1,192.9 1,173.6 1,264.2
9.9
264.3
51.0
255.8
61.5
251.8
56.9
238.5
Dec.
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
Annual
January 1980
1979
1978
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF IMPORTS—Continued
General imports—Continued
By leading countries—Continued
Asia; Australia and Oceania:
Australia including New Guinea
India
Pakistan
Malaysia
Indonesia ...
Philippines
Japan
1,728.3
mil. $.. 1,266.2
190.2
7760
9795
do
758
56.0
83.7
do....
7.9
13182
15191
1259
do
3,606.9
2773
do . . 3 475.1
12069
1099
do
1 1095
....
do
18 549.7 24,457 8 20246
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
Latin American republics, total #
Argentina
Brazil
Chile
Colombia
Mexico
Venezuela
By commodity groups and principal
commodities:
Agricultural products total
Nonagricultural products total
142.2
178.8
918
569
6.4
9.6
1843
1388
293.7
335.6
1220
114 2
19939 22473
170.2
769
11.0
1267
222.9
933
1 865.4
208.1
201.6
181.7
189.4
187.8
187.1
178.2
129.5
205.0
96.8
928
96.6
854
936
924
901
740
881
11.3
12.0
8.0
11.6
11.4
10.2
9.5
9.5
7.8
182.8
1661
1965
1516
1853
2012
1474
2570
1751
384.7
339.0
226.4
332.0
2495
289.0
341.8
377.2
306.0
958
1282
1013
1493
1209
1183
1295
1465
1342
19851 2300.6 2,092.0 2 319.9 2,183.3 2,276.1 2,188.7 22998 23491
3,032.4
4,053.7
349.3
362.6
360.3
345.8
356.4
362.3
409.6
416.7
414.4
395.9
367.4
381.5
16.7
35.2
2.2
2.2
2.3
2.7
2.6
4.2
3.3
4.1
2.2
2.7
2.9
2.2
2.2
7,238.3
30367
452.9
5 1410
9,960.8
4 1025
540.3
65133
910.3
3755
37.5
5338
896.0
3742
31.9
5328
869.6
3729
25.0
5556
682.0
3087
19.1
4054
858.0
4250
23.2
6710
981.9
403.3
28.7
653.4
938.8
3671
71.9
6560
1,002.6
4929
75.4
6974
941.9
4982
44.2
7104
1,024.0
403.3
110.3
7034
766.2
3515
90.8
667 1
803.2
3893
132.7
7128
1,016.5
4138
103.3
7890
do
29 598.6
33,529.4
30287
3051 1 29142
2 882.8 3 370.6 2 968.3 3,507.3 3 094.2 29120
do...
do
do.. .
do
do .
do
do
16 450.3
3923
2 240.5
2727
819.4
46942
4 084.4
18,560.1
5633
2,831.3
3853
1,043.9
60928
3,545 1
1,643.9
475
2648
228
1046
5830
2725
1749 1 1,887.2
490
516
339.5
287.3
170
250
80.9
923
5900
641 1
3082
4120
1 753.5 1,830.4
527
459
220.1
206.9
187
354
100.2
118.4
6568
6566
332.4
3470
1 939.1 2,011.1 2,089.1
475
598
671
240.6
219.7
258.6
33.0
469
352
115.0
104.4
79.1
6661
7256
7100
475.9
392.9
393.6
489.8
2 881.9 3 162.3 3 437.8 35416
1,899.8 2 113.9 2,150.1 2 342.9 2 296.7
564
426
342
357
429
321.1
215.0
312.6
232.3
264.5
504
352
453
339
289
97.1
115.9
110.4
88.4
810
7568
7828
6215
7670
943 1
406.7
476.0
524.3
464.9
477.4
mil. $.. 13 538.3 14,960.8 1,302.2 1,409.3 1,514.0 1 255.7 1,435.9 1,490.9 1,382.3 1,509.0 1,267.4 1,314.1 1,257.6 1 255.2 1 542.6
do
133 278 4 157 064 7 13 752 7 13 547 0 14 332 3 12 520 6 14 329 0 14 681 1 15 129 2 15 926 7 15 847 6 16 616 9 16 817 9 17 988 2 17 115 5
do
12 557.8 '135206 1 1687 1254 1 12783 1 1025 12426 1 325.7 1,245 1 13573 1 1729 1 177.1 1 1632 1 1855 14495
45.0
667.0
91.6
27.7
44.0
50.3
31.3
do....
485.5
63.7
74.5
103.0
51.4
37.7
17.6
30.1
339.6
3008
do
38609
37278
309 1
2422
2746
2795
3056
3575
297 1
3170
3065
2824
378 1
242.3
165.8
do....
1,856.0
200.1
242.3
231.3
269.9
157.0
162.3
221.8
1 273.2
199.2
182.1
208.8
205.2
576
do
1205
675
673
700
1080
10791
7230
594
594
640
41 1
622
1225
1333
Food and live animals $ ....
Cocoa beans
Coffee
Meats and preparations
Sugar
Beverages and tobacco
do
16694
'2 221 4
2096
2059
2048
1562
2219
2053
217 1
2109
2042
1987
2225
2178
2478
Crude materials inedible exc fuels $
Metal ores
Paper base stocks
....
...
Textile fibers
Rubber
..
do
do
do
do
do
84862
2234 4
12524
225 1
6503
'92966
28502
1 1542
2478
6847
8374
3073
1113
210
465
8052
2424
1130
148
744
8127
231 1
1088
227
81 1
7380
1878
1154
168
725
8593
211 1
1294
198
823
870.1
2516
111.7
188
100.5
10060
3026
1568
194
617
960.9
2988
1229
208
953
919 1
3064
1256
205
678
958.3
3029
138.8
217
74.0
9420
3139
1195
16 1
773
8525
2519
138 1
165
627
878 1
2876
1443
19 3
590
Mineral fuels lubricants etc
Petroleum and products
do
44 537.2
do.... 41,526.1
530.7
do....
4 970.4
do
. ..
Oils and fats, animal and vegetable
Chemicals
....
Manufactured goods $
Iron and steel
Newsprint .
Nonferrous metals
Textiles
..
.
...
Machinery and transport equipment
Machinery total #
Metalworking
Electrical
Transport equipment
Automobiles and parts
1
42,105 2 35362 37463
39,108.9 3,301.6 3,465.2
'Sll.l
*6 427 4
51.7
5125
42280 3 524.9 39479 4 240.6
3,935.2 3,248.6 3,673.8 4,015.0
33.0
5353
50.6
4405
89.5
5322
do
21 367.0 *27 237 3 23734 2 1115 22558 2 1207 24240
do.... 5 804.4
7,259.3
543.8
534.5
479.9
738.5
555.5
2093
do
1 871.8 2 1007
1588
1706
1890
1780
do
424 4
4038
39384
5 1219
384 1
5626
383 1
do
1859
1*772.4
22001
1757
1700
1939
154 1
do
do
do
do
36 406.8 147,625.6 42383 43187
17 663 8 24 404 0 21628 21833
433.5
9467
935
808
84320
5 1708
451 1 4806
do....
do....
17 829.9
15,842.0
13,809.4
3 335.7
Miscellaneous manufactured articles
do....
Commodities not classified
do
45159 39326
22062 19710
820
1058
474 1
3995
23,221.6
20,631.2
1
2 075.5 2,135.4 2,309.8
1,880.9 1,891.2 1,996.8
19,062.1 1,799.9 1,560.3 1,619.7
*4 018 1
3272
3094
386 1
44.2
648.7
55.7
655 1
4,165.9 4 528.2 50750
3,802.1 4,236.3 4,757.8
40.6
698.3
35.0
5709
66.3
648.1
56.8
6121
72.4
6099
69.4
7085
26698 24812
644.1
626.9
1895
1857
562 1
5079
200.6
1796
2 627.6 24840 26934
729.3
697.3
645.8
199.5
1735
1947
508 1
4908
6260
188.7
182.3
173.9
27213
716.7
220 1
5740
177.3
4,509.3 4 712.5 43286
2291 1 25360 24020
1197
1354
1218
5239
5644
607 1
4,314.3 4,183.5 45694
23954 23626 24551
123.5
1087
1231
5842
6216
6102
4 815.0
24559
1563
5687
2 251.0 25964
479.8
678.0
183.0
1867
444 4
5228
182.9
189.3
44383 4 750.0
22896 23137
1055
113.4
4825
547 1
61.6
6636
5 460.4 6,084 4 65587 54107
5,108.2 5,742.7 6,226.0 4,999.9
1,961.6 2,148.8 2,436.2 2,218.3 2,176.5
1,639.4 1,871.7 2,162.9 1,943.1 1,920.8
1,426.4 1,569.2 1,549.5 1,584.5 1,864.4
2870
4483
4064
2839
3508
1,926.6 1,918.9
1,673.5 1,671.6
1,967.9 2,046.4
4337
3602
1,821.0 2,114.4 2,359.1
1,566.2 1,758.2 1,989.9
1,871.3 1,991.9 1,826.6
4558
4919
5310
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
1967-100..
Quantity
...
do
Value
do
210.2
183 1
3847
231.5
1988
4603
2352
2117
5253
2413
2078
5209
General imports:
Unit value .
Quantity
Value
2699
2008
541.9
2913
221 2
6444
3039
2228
6770
3009
2229
6706
3059
2324
7110
3095
1999
6187
thous sh tons
274 413
mil. $.. 65376
300 032
77,268
28372
7,356
27428
7402
22948
6,508
thous sh tons
612 798
mil. $.. 103.037
592 949
115,480
51404
9.759
49982
9.685
53870
10.928
.
do
do
do
r
2476
1932
4835
r
r
r
257.1
2187
5485
254.9
2232
5689
255.0
2316
5905
254 1
2233
567 3
255.6
2254
576 1
2580
2225
5742
2621
2538
6653
2633
2520
6636
3194
221 6
7076
3205
2264
7256
328 1
2258
7409
3353
2329
7810
3452
221 8
7657
3515
2280
8015
3628
2150
7799
3722
231 3
8609
3799
2199
8355
21980
6,637
28239
8,176
27463
7381
28288
7,775
31650
8,384
31768
8,009
32714
8,191
43642
8.904
45937
10.028
51080
11.030
48529
10,703
51744
12.170
51439
11,921
50891
12,721
2494
1999
497 5
2551
239 1
5990
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight
Value
General imports:
Shipping weight
Value
See footnotes at end of tables.
....
Dec.
S-21
SURVEY OF CURRENT BUSINESS
January 1980
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
Nov.
Annual
1979
1978
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue)
Passenger-load factor
Ton-miles (revenue) total
Operating revenues (quarterly) $ §
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) §.
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
International operations:
Passenger-miles (revenue)
Cargo ton-miles
Mail ton-miles
Operating revenues (quarterly) §
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
bil.
percent..
mil.
19475
56.2
26 100
22678
615
29679
mil $..
do....
do
do....
do....
do....
19925
16,274
1719
390
19,017
731
22887
18812
1985
383
21,512
1 184
bil
mil..
do
15661
3,125
751
18267
3506
808
mil $..
do....
do
15821
15,165
497
18184
17,151
858
bil..
mil..
do
44.11
2314
374
mil $
do....
do....
36.61
2,302
397
4 104
3,852
234
mil .
5979
1775
57.3
2414
1939
584
2545
1912
574
2445
1758
580
2275
5756
4,697
541
118
5,639
87
1444
309
67
4703
4361
326
2027
702
2601
2007
65.8
2593
2347
69.9
2939
5817
4829
510
73
5,843
-6
1566
287
89
1522
265
67
14 54
253
62
4575
4,486
47
3.31
226
37
22 13
642
2857
1837
318
75
3.90
173
28
3.05
175
27
1 181
1 153
40
3.76
219
32
2732
69.4
3333
2062
58.4
2650
1971
289
64
2130
299
70
1572
284
66
5.75
223
28
6.02
202
30
4.90
210
28
643
673
655
6375
5336
532
102
6,103
326
1628
280
67
1832
294
68
1575
288
70
1468
1388
758
710
173.2
171.7
261.3
262.0
2585
5022
4,781
293
4683
4,720
18
3.73
187
43
2546
68.7
3149
3.99
196
30
4.32
199
30
5.15
202
29
1 134
1 122
12
1354
1322
34
Urban Transit Systems
Passengers carried total
6
7636
652
645
609
617
724
667
694
713
Motor Carriers
Carriers of property, large, class I, qtrly.:
Number of reporting carriers
Operating revenues, total
mil. $..
Net income, after extraordinary and prior period
charges and credits
mil $ .
Tonnage hauled (revenue), common and contract
carrier service
mil tons
Freight carried—volume indexes, class I and II
intercity truck tonnage (ATA):
Common and contract carriers of property
(qtrly.)
average same period, 1967—100..
Common carriers of general freight,
seas, adj
1967-100..
100
13,853
2
100
16618
100
4701
100
4329
100
4398
100
4790
452
495
143
58
55
140
217
236
64
58
56
55
159
148
157
1662
1817
19,947
18658
337
21829
20333
356
5902
5511
91
5711
5298
92
6572
6123
96
6,478
do....
do....
do. .
do....
19,299
3,377
433
3
359
21 124
5577
5590
6064
6348
443
260
246
236
55
16
452
423
51
36
bil.
do
1969=100..
8626
8263
199.1
858 1
213.1
216.3
227 1
231.1
139
3496
650
24.65
70
157
3883
680
28.45
72
154
3930
660
29.90
68
8201
8 198
6492
5364
3,107
8903
8 883
7861
6325
3234
62910
150
186.2
162
166
1969
197 1
1995
2054
1428
1879
185.1
1833
169.7
177.8
Class I Railroads $
Financial operations, qtrly. (AAR), excl. Amtrak:
Operating revenues, total #
mil $..
Freight
do
Passenger excl Amtrak
do....
Operating expenses
Tax accruals and rents
Net railway operating income
Net income (after taxes)
Traffic:
Ton-miles of freight (net), total, qtrly
Revenue ton-miles qtrly (AAR)
Price index for railroad freight
3
232.0
232.1
1927
2076
232.9
233.2
233.3
2358
2383
235.9
239.4
241.8
2305
244.4
155
3802
500
29.71
54
129
44 19
610
29.69
66
152
4336
700
31.31
68
179
42 14
740
31.42
75
167
4294
74
30.97
75
181
4650
79
31.34
74
190
4608
77
32.82
76
180
4650
72
33.39
73
170
4625
7.7
33.91
79
173
4739
7.6
33.31
71
612
593
581
517
168
584
714
664
548
156
683
678
672
555
221
607
599
532
378
234
760
785
798
607
356
772
850
773
622
386
804
1022
867
679
347
1006
1095
1 166
816
302
1088
966
1r 178
977
279
776
820
926
717
196
2732
1921
1574
1695
747
752
671
488
338
2541
3523
4806
7292
9556
10 108
6302
186
5017
45905
19 909
18630
2
29 489
8191
1504
3967
1765
1588
r
2587
662
1496
3953
1744
1 607
r
2'687
654
1504
4046
1772
1 682
2608
752
150 1
3956
1767
3235
2538
732
1506
4 153
1802
1738
2390
725
1512
4 168
1 811
1 680
2682
798
1516
4 197
1816
1755
2*797
719
1513
4,177
1827
1670
2743
756
1520
4,229
1823
1738
2733
790
1524
4,389
1863
1846
2937
768
1529
4,260
1858
1708
2840
752
1537
4,411
1890
1844
2963
790
1542
5
r
r
2260
262.8
Travel
Hotels and motor-hotels:
Restaurant sales index.... same month 1967—100.
Hotels' Average room sale U
dollars
Rooms occupied
% of total.
Motor-hotels: Average room sale f[
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 @
COMMUNICATION
Telephone carriers:
Operating revenues #
Station revenues
Tolls message
Operating expenses (excluding taxes)
Net operating income (after taxes)
Phones in service end of period
Telegraph carriers:
Domestic:
Operating revenues
Operating expenses .. . .
Net operating revenues (before taxes)
Overseas, total:
Operating revenues
Operating expenses
Net ODeratine revenues (before taxes)
See footnotes at end of tables.
do
69980
mil $..
do
do
do.
do....
mil
40736
18167
16305
26 111
7295
1499
mil $
do.
do
5548
4396
869
5764
4700
856
497
410
61
49 5
418
39
499
428
45
499
400
71
53 1
421
82
525
422
74
540
45.4
57
540
44 1
65
538
448
61
549
41.9
68
513
42.9
54
554
44.9
77
3969
2794
108.4
454 8
3135
123.3
396
268
11.0
393
315
6.3
41 4
272
12.5
372
247
10.8
42 5
266
13.9
391
248
11.8
41 1
266
12.8
41 1
266
12.7
408
272
12.0
427
274
13.5
404
262
12.5
448
276
12.0
do
do
do....
2
175
1922
S-22
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1979
1978
1978
Nov.
Annual
January 1980
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
Production:
Aluminum sulfate, commercial (17% A12O3) $
Chlorine gas (100% C12) t
Hydrochloric acid (100% HC1) $
Phosphorus elemental $
do
do
do
Sodium carbonate (soda ash), synthetic
(58% Na2O) $
thous sh tons
Sodium hydroxide (100% NaOH) $
do
Sod'um sulfate' anhvdrous ±
do
Sodium tripolyphosphate (100% Na5P3O,o) $
do
Titanium dioxide (composite and pure) i
do
Sulfur, native (Frasch) and recovered:
Stocks (producers') end of period
do....
91
899
231
37
101
965
235
40
102
1,019
243
41
109
1,037
239
39
95
1,010
253
37
105
1,055
274
31
889
63
88
926
59
98
978
57
95
1046
71
93
1 042
69
98
1039
66
96
1071
65
103
65
58
60
57
59
52
64
61
62
65
61
61
61
64
65
60
790
5,245
838
5,261
785
5,127
716
5,009
806
4,783
782
4,616
856
4,439
866
4,351
871
4,320
1422
610
1349
638
1249
573
(2)
(2)
1571
713
174
781
1584
682
181
739
1,534
661
161
720
1,408
574
149
671
474
823
3396
195
815
3433
586
397
555
609
355
546
96
971
233
39
1 255
10573
'2721
431
1 184
10959
2751
441
1 812
10933
760
1 199
10 746
803
1 235
937
73
103
1 001
70
91
717
687
735
720
66
60
19 339
5,469
19 557
5,261
17 398
17453
4904
17377
16950
7 218
8
1797
8058
8
8
(2)
(2)
91
986
240
38
92
865
218
33
(2)
(8)
927
4,245
862
4,157
r
946
4,130
927
4,215
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous $
thous sh tons
Ammonium sulfate i
Nitric acid (100% HNO ) $
do
do
Nitrogen solutions (100% N) i
Phosphoric acid (100% P 2 0 5 ) $
Sulfuric acid (100% H2SO ) $
do
do
do
Superphosphate and other phosphatic fertilizers
(100% P2O5):
Stocks end of period
Potash deliveries (K2O)
1
681
1536
650
154
725
683
647
1550
702
189
772
2 640
*8456
35 821
2323
9*565
133 419
468
825
3 459
469
893
3 503
171
758
3 311
444
780
3 289
212
895
3610
208
864
3604
252
858
3528
6699
573
6309
7 176
'500
6,833
582
423
549
659
500
532
599
488
554
594
435
467
673
360
715
668
359
813
647
415
591
698
614
705
724
1975
3
212
1048
195
2,008
216
1 179
107
3,116
466
1,946
106
1,826
291
1,162
73
1,346
212
874
67
2,614
280
1,655
186
2,929
290
1,605
107
2,570
336
1,563
122
2,917
319
1,905
214
2,346
203
1,641
168
1,190
128
815
93
37
14
992
11
12
6
774
12
11
5
689
2
20
9
711
31
19
18
918
4
16
22
684
0
31
16
1,060
0
(2)
do
do .
5
Exports total #
Nitrogenous materials
Phosphate materials
Potash materials
do .
do....
do
do.. .
23 108
1,169
16741
1650
26
247
4
2,622
4
16
741
4
1,827
1781
170
1241
69
2493
176
1599
242
Imports:
Ammonium nitrate
Ammonium sulfate
Potassium chloride
Sodium nitrate
do
do. .
do
do.. .
361
327
8229
157
404
326
8390
142
23
34
648
11
18
21
716
0
18
24
643
16
17
17
428
18
31
30
779
7
48
70
757
10
mil cu ft
5972
5262
475
455
428
364
400
421
444
431
416
437
mil cu ft
do
do
2 256
84 459
331 545
392 984
2286
90248
389 322
428 014
180
7929
33 165
37605
193
8509
31521
37421
167
7395
35509
34291
157
7 176
30528
31562
225
8279
35,318
38432
206
8633
32,000
36206
230
8087
34,166
37565
283
7,922
33,077
36,170
249
8,157
33,140
35,363
247
8,088
34,465
34,190
mil Ib
mil gal
mil Ib .
do
do....
mil gal .
mil Ib
X
314
4612
'2178
'6 046 5
286.0
1
971.8
^260
32.2
4432
481.9
1
6 381 0
290.5
1
970.4
*9780
2.9
128
21.7
5313
24.7
60.9
765
2.8
125
208
548 1
21.9
90.0
946
2.8
109
15.4
4962
21.4
71.0
800
2.5
10.8
24.4
484.0
24.2
87.0
76.5
3.0
139
24.0
5829
29.2
72.2
100.6
2.7
127
22.3
580.8
2.9
138
25.1
5646
2.4
14.3
21.6
561.6
2.6
13.0
19.2
522.9
2.5
13.5
23.3
528.2
2.6
15.7
22.4
543.5
2.7
12.6
22.1
552.6
2.5
13.3
19.4
528.8
26.8
100.2
94.9
25.8
99.0
102.3
21.1
99.0
102.0
22.8
83.8
82.4
28.8
87.3
98.8
24.5
103.0
88.8
25.5
99.2
76.6
26.6
99.2
81.9
Ethyl alcohol and spirits:
Production
Used for denaturation
Taxable withdrawals
Stocks end of period
mil tax gal
do
do
. . .
do .
4983
4054
810
714
506 9
4205
901
71.2
380
386
74
64.6
40 7
37 1
116
712
428
366
67
667
413
35.0
58
62.2
493
39.5
75
59.2
473
36.2
62
63.6
429
37.1
74
65.6
482
26.9
7.9
66.7
438
36.0
6.4
67.5
460
44.0
7.2
61.5
537
36.2
8.8
61.3
Denatured alcohol:
Production
Consumption (withdrawals)
Stocks end of period
mil wine gal
do
do
223 8
2246
26
2277
2288
27
16 6
172
29
20 1
205
27
21 3
216
23
190
18.7
27
19 1
21.1
27
"201
19.8
31
217
21.8
30
208
21.5
24
197
19.6
2.6
245
22.5
41
20 1
21.6
2.3
4 797 1 4 926.0
mil Ib
do.... 40, 100.1 41,359.4
*2 705 8 '3 055 3
do
15 203 0 15 9gg 6
X
'5,267.3
5,878.0
do....
151.7
937.5
2682
4348
479.7
1388
961.2
2443
481 5
493.5
1499
896.4
2822
5046
470.9
143.4
922.6
267.5
4676
473.5
166.9
1,042.4
307.7
5757
531.2
148.4
1,089.4
319.6
5388
548.2
156.6
1,109.7
311.7
5376
589.6
156.2
1,077.6
307.5
5324
513.4
125.0
1,054.3
328.4
5087
524.9
134.0
1,082.2
347.0
5291
546.6
144.7
1,035.8
318.9
5268
514.0
166.3
1,063.0
315.2
516.9
552.2
135.5
1,066.3
298.9
4809
506.1
9
476 1
9
2049
9
1902
9
484 0
2107
186.7
86.6
574 1
2840
186.0
104.2
6778
3479
209.2
120.7
6384
350.3
163.5
124.6
6786
3581
184.7
135.8
fl
.
4
3
5
Industrial Gases
Production:
Acetylene
Carbon dioxide, liquid, gas, and solid
Hydrogen (high and low purity)
Nitrogen (high and low purity)
Oxygen (high and low purity)
Organic Chemicals §
Production:
Acetylsalicylic acid (aspirin)
Creosote oil
Ethyl acetate (85%)
Formaldehyde (37% HCHO)
Glycerin, refined, all grades
Methanol, synthetic
Phthalic anhydride
.
.
ALCOHOL
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
Polyethylene and copolymers
Polypropylene
Polyvinyl chloride and copolymers
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly
Paints, varnish, and lacquer, shipments:
Total shipments @
Architectural coatings
Product finishes (OEM) ....
Special purpose coatings
See footnotes at end of tables.
mil Ib .
2,675.1
mil $
do
do. .
do....
53075
1
2 821.1
6 008 1
4043
81.0
6220
2962
221.6
104.3
781.9
795.2
628.1
7904
4702
6683
3527
189.6
126.0
Dec.
S-23
SURVEY OF CURRENT BUSINESS
January 1980
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
1979
1978
Annual
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production:
Electric utilities total
mil. kw.-hr 2 124 078 2 203 891
By fuels
do 1 903 643 1 922 953
By waterpower
do
220 435 280 938
Sales to ultimate customers, total (Edison Electric
Institute)
mil. kw.-hr.. 1,950,791 2,017,818
Commercial and industrial:
Small light and power §
do
469 227 480 748
Large light and power §
do
757 168 782 141
Railways and railroads
do
4212
4336
Residential or domestic
do
652 345 679 156
Street and highway lighting
do....
14,418
14,803
Other public authorities
do
46242
49509
Interdepartmental
do....
7 179
7 125
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil. $. 62 610 0 69 852 9
GAS
Total utility gas, quarterly
(American Gas Association):
Customers, end of period, total
Residential
Commercial
Industrial
Other
Sales to customers total
Residential
Commercial
Industrial
Other
Revenue from sales to customers, total
Residential
Commercial
Industrial
Other
176 295 191 703 209 525 186 324 182 971 169 514 178 151 186 668 202 396 204 928 180 605 179 792
156 292 169 600 184 430 164 982 156 958 144 127 149 108 161 676 179 664 183 533 161 627 159 523
20003 22 103 25094 21342 26013 25388 29043 24991 22732 21395 18978 20269
160 614 170,554 182 796 181 251 174 298 164 615 161 951 167,422 177 453 186 227 179 540 167,594
37700
67247
370
49 440
1330
3913
614
39 207
66025
397
57 458
41 615
66261
403
68 345
41 478
65810
364
67 625
1,401
5456
610
1359
4 177
637
1262
4 153
559
55520
58282
63395
63359
40 065
67475
376
60 498
1245
3916
723
72752
70395
65394
1694
15 13
1483
1676
1556
1430
1470
1371
1387
1528
1364
1259
1 158
3789
741
1,108
4 158
566
6 1798 5907 1 59117
62986
45996
45996
46668
46497
42382
3378
189
47
42382
3378
'l89
47
42911
3 521
181
55
14748
5 107
2500
6,841
301
3624
5 524
2 439
1068
1,897
119
mil. $
14 341
4 946
2409
6,711
274
28303
42825
3 438
190
45
3 473
do...
do
do
do
11541
4980
11385
397
8211
68565
1 192
3778
735
42 108
3 400
175
42
975
495
1,945
58
8505
13023
6366
2 619
3865
172
3302
1467
3322
120
344
51 824
1,260
4256
581
333
51 193
45725
32 150
12939
5696
13065
451
342
60 092
1210
4344
619
345
52 745
43 952
68698
334
58 470
do...
do
do
do
tril Btu
1260
614
1,674
76
40 593
68737
40 759
69303
thous.
do
do....
do....
do
44 006
68926
1 124
4292
580
45 792
69959
346
63 944
1,156
4 448
583
38 260
69*148
361
48 493
37 970
67849
2881
1 293
4237
93
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
mil. bbl.
Taxable withdrawals
do
Stocks end of period
do
Distilled spirits (total):
Production
mil tax gal
Consumption, apparent, for beverage purposes
mil. wine gal..
Taxable withdrawals
mil. tax gal.
Stocks end of period
do
Imports
mil. proof gal
Whisky:
Production
. .
.... ....
.. mil tax gal
Taxable withdrawals
do....
Stocks end of period .
..
do
Imports
mil. proof gal..
Rectified spirits and wines, production, total
mil proof gal
Whisky
do....
Wines and distilling materials:
Effervescent wines:
Production
mil wine gal
Taxable withdrawals
do.
Stocks end of period
do
Imports
do
Still wines:
Production..
do
Taxable withdrawals
do
Stocks end of period
do
Imports
.
.....
.... do
Distilling materials produced at wineries
do
DAIRY PRODUCTS
Butter, creamery:
Production (factory) @ . .
* .mil Ib
Stocks, cold storage, end of period
do....
Price, wholesale, 92 score (N.Y.)
$ per Ib..
Cheese:
Production (factory) total @
Stocks cold storage end of period
American, whole milk
mil Ib
do
do....
Price, wholesale, American, single daisies
(Chicago)
$ oer Ib..
See footnotes at end of tables.
17050
15692
1242
179 66
16271
1376
1271
1204
1350
1287
11 57
1376
1383
1232
1400
1357
1201
1406
1689
1501
14 44
1634
14 96
1498
1697
1500
14 74
1677
1557
1450
1809
1540
1508
14 31
1804
17 11
1825
1700
772
1199
1462
445.02
23627
66251
12860
44.52
2242
66328
14 13
52.92
1761
66251
1128
32.02
1826
661 03
836
30.30
1369
661 64
8 12
37.41
1966
662 41
902
34.44
1772
665 06
970
35.47
1802
66867
970
36.95
1954
67036
846
32.33
1471
66577
977
35.92
20 10
65038
905
1996
65687
1092
1287
1668
8060
12863
64900
91 15
79 16
13252
60062
10189
921
1299
60120
1155
794
877
60062
883
8 44
1009
59869
636
8 85
752
599 88
507
1106
1066
600 72
691
1098
9 18
603 01
751
1173
962
606 04
761
1098
1047
608 06
6.28
395
772
60523
744
569
11 51
58848
656
675
1086
596 13
853
1020
13.33
11052
41.48
111 44
39.77
960
342
806
2.60
8 34
258
7 12
220
8 91
284
774
2.43
876
2.70
884
2.90
659
2 12
922
356
932
333
2286
2135
8 56
293
2309
2143
8 25
4 31
259
325
1256
0 64
152
250
8 25
047
193
1 12
8 19
0 36
1 66
085
9 95
0 18
180
152
1033
0 34
191
130
11 65
035
249
155
1156
032
189
162
11 46
032
158
124
12 11
033
225
167
12 71
026
203
2 18
12 10
038
6.52
0.63
22
319 19
527 07
8977
244 23
41 16
31 17
55580
838
16 13
2229
2777
527 07
790
9 47
640
2644
484 25
7 11
6 13
32 84
465 05
7 44
4 20
409
27 42
438 76
695
6 66
608
2670
397 16
666
7 99
5 14
2662
384 29
8 16
8 77
490
2392
37986
776
1079
3646
2754
366 78
6.46
3130
152.56
2695
48496
7.14
8438
7.23
8.70
6 70
701
2394
458 12
450
4 74
10856
184.9
1.015
9943
206.9
1.141
665
228.9
1.260
111
206.9
1.258
974
208.6
1.150
866
214.7
1.150
893
209.5
1.195
924
216.5
1.239
98.6
239.1
1.245
847
260.1
1.246
74.8
257.3
1.271
64.9
238.5
1.345
61.5
218.0
1.229
76.8
200.4
1.342
74.7
179.1
1.353
33585
2043 1
35193
2074 2
2797
151 4
3014
1703
2889
1738
2760
1660
3177
1920
339.7
2106
3447
2109
319.0
1952
310.9
1818
304.0
1719
289.9
159.9
4529
377.2
150
4953
416.6
155
5199
431.9
217
5553
463.9
197
5485
459.3
224
291.4
1674
5406
455.0
208
5269
'436.9
216
5172
427.8
292
1.374
1.376
1.389
1.409
1.458
1.488
1.466
1.447
15931
166 65
432.56
221 12
70668
11294
2
1
40975
310 41
505 49
6579
27655
r
420
r
468 6
404.7
209 4
436 4
357.9
242 2
431 0
357.0
30 7
4364
357.9
456
4368
361.6
128
4462
367.8
65
3230
1853
4399
363.0
108
1.187
1.301
1.400
1.410
1.410
1.350
1.356
r
r
1.366
1.444
S-24
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
1979
1978
Nov.
Annual
January 1980
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS— Continued
Condensed and evaporated milk:
Production case goods @
mil. lb..
Stocks, manufacturers', case goods, end of month
pr year ..
mil. lb..
Exports:
Condensed (sweetened)
do
Evaporated (unsweetened)
do....
Fluid milk: '
Production on farms $
do
Utilization in mfd. dairy products @
do....
Price, wholesale, U.S. average
$ per 100 lb..
Dry milk:
Production:
Dry whole milk @
mil lb
Nonfat dry milk (human food)@
do....
818.9
787.9
53.5
60.6
58.0
56.8
63.0
72.0
80.6
80.2
70.7
66.7
62.9
59.4
59.0
75.2
70.3
84.4
70.3
66.0
56.4
49.6
68.3
90.3
117.1
134.7
131.7
129.2
118.8
89.1
37.0
2.7
2.4
3.1
3.1
5.0
4.4
4.3
2.8
1.8
2.4
3.8
4.8
3.0
7
4.1
28.8
o
122,698
66,062
9.72
121,928
64,748
10.60
9,364
4,512
11.60
9,788
4,838
11.80
10,035
5,285
11.90
9,379
5,016
11.90
10,555
5,748
11.80
10,609
5,837
11.60
11,175
6,373
11.50
10,982
6,290
11.50
10,705
5,874
11.60
10,400
5,580
12.00
10,016
4,970
12.40
10,081
5,159
12.60
69.4
1,106.6
74.6
920.4
5.1
42.7
5.9
55.8
7.2
55.1
5.8
54.9
8.0
76.1
9.3
87.8
8.3
104.8
7.6
112.2
7.2
94.4
6.9
78.7
5.3
55.6
5.5
58.1
6.9
56.2
do....
do ..
6.0
60.7
4.4
40.1
3.7
36.6
4.4
40.1
4.9
37.0
4.6
40.8
4.3
51.2
5.8
84.4
7.1
110.1
8.6
128.3
8.2
123.2
7.2
110.2
6.1
96.0
4.9
92.9
4.9
84.1
Exports:
Dry whole milk
do....
Nonfat dry milk (human food)
do....
Price, manufacturers' average selling, nonfat dry
milk (human food) @ ...
$ per lb..
23.8
38.8
122.8
10.0
4.0
3.1
1.4
3.0
12.9
13.0
5.3
8.8
2.1
6.3
7.2
6.8
0.665
0.834
0.840
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye, wheat)
mil. bu..
2,586.1
377.4
342.6
Stocks, manufacturers', end of period:
Dry whole milk
Nonfat dry milk (human food) @
Barley:
Production (crop estimate)
Stocks (domestic) end of period
On farms
Off farms .. .
fl
.
Oats:
Production (crop estimate) U
Stocks (domestic), end of period, total
mil bu
do....
Off farms
do
Exports including oatmeal
.
do....
Price, wholesale, No. 2, white (Minneapolis)
$ per bu..
fl
mil. bu..
do
do ...
do....
Stocks (domestic) end of period total
On farms
Off farms
do
do
do....
Exports total including flour
Wheat only
do
do
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
$ per bu..
No. 2 hd. and dk. hd. winter (Kans. City) .. do....
Weighted avg., selected markets, all grades
$ per bu..
See footnotes at end of tables.
0.747
0.765
0.764
0.766
0.772
0.788
0.794
0.795
0.797
0.801
0.807
'3,311.2
248.7
252.1
202.4
194.7
248.3
266.8
283.5
338.8
361.8
352.2
323.4
9.5
8.3
3.08
2.98
2.98
2.85
r2
449.2
388.0
273.8
114.2
2.45
2.64
2
6,425.5
5,503.0
3,824.3
1,678.7
r
9,598
4,761
!2.90
0.714
420.2
329.2
218.9
110.3
72.8
2
2
r2
99.2
2.5
2.8
2.62
2.63
2.67
2.69
2.48
2.49
2.92
2.94
0.7
0.1
2.23
2.28
2.29
2.28
2.43
2.44
130.1
124.6
4,420.7
3 098.2
1,322.5
169.6
187.5
969.2
198.5
229.9
221.9
225.4
i,285.i
5
775.7
5
509.4
185.5
2.23
2.48
2.46
2.58
2.74
2.72
2.90
2.69
2.33
(10)
2.15
2.34
563.7
483.2
806
3
3,231.2
3
2,262.0
3
5
4
288.7
4
2380
4
393.5
3292
643
214.6
222.2
2.90
2.88
15.2
0.6
1.4
0.3
0.2
0.4
0.3
0.5
0.3
0.2
0.3
0.2
0.2
0.9
1.37
1.47
1.44
1.48
1.54
1.56
1.47
1.59
1.63
1.60
1.45
1.53
1.66
1.66
1,675
989
79
72
275
126
124
162
171
79
330
151
213
191
193
123
141
104
106
131
167
76
182
145
422
197
380
232
214
304
253
304
222
122
187
139
144
141
80
115
96
190
241
9,557
6,217
8,824
6,130
884
620
822
562
607
509
482
511
563
553
539
599
351
617
198
473
142
419
794
426
1,870
440
2,246
535
822
503
2,629
2,488
2,496
2,488
3,365
1,624
1,977
1,740
1,340
1,001
717
1,574
1,608
2,527
2,545
4,995
4,972
371
596
361
416
484
498
531
334
434
310
316
426
320
0.177
0.145
0.148
0.140
0.140
0.140
0.165
0.165
0.165
0.165
0.190
0.200
0.205
0.205
2.48
16.3
2.52
2.38
2.49
12.6
2.32
2.39
4
97
2.44
2.59
2.86
2.45
259
2.42
2.74
2.59
2
2
17.3
9.3
2.39
2
r2
2
2
2,036
2
499
1,537
1,827
1,993.8
831.3
1,162.5
26.2
16.3
2.64
1,798
2
550
1,248
2,162
1
407
506
1,631.8
815.4
816.4
1,631.8
815.4
816.4
9
2.50
"2,142
"533
"1,609
301
"750
2,288.9
1,013.1
1,275.8
4
924.5
4
484.2
4
1,224.9
628.7
596.2
0.195
"24.5
440.3
1,289.4
1,243.5
93.1
92.3
91.2
90.0
71.3
70.4
69.8
67.1
78.3
75.5
78.7
77.0
83.1
76.8
106.2
102.2
137.2
133.3
123.6
117.8
134.8
129.6
151.9
149.0
110.8
108.9
2.80
2.62
3.24
3.24
3.52
3.50
3.16
3.46
3.32
3.41
3.47
3.52
3.50
3.56
3.85
3.62
4.46
4.12
4.50
4.40
4.66
4.44
3.33
3.55
3.40
3.30
3.55
3.59
3.76
4.24
4.55
4.46
4.52
4.21
4.17
2.88
3.54
3.58
3.54
4.41
4.66
4.80
4.55
4.53
4.62
905.8
863.9
1.61
"136.7
133.2
8
2.60
"534.4
2,215
1,460
0.152
2.77
2.63
7 585 5
576.3
4740
102.3
50.7
13.00
"378.1
6
6,198.9
4 517.5
1,681.5
159.1
153.9
595.9
563.7
483.2
80.6
1.34
2.3
2.65
2.65
0.5
2.32
2.37
2.39
11.2
1.1
2.52
2.50
1.0
2.22
r2
0.3
447 4
298.3
149.1
2.3
2275
"1488
4
78.6
2.48
2.44
1,975.2
750.9
565.0
482.3
82.7
4
294.5
1967
97.8
2.30
2.29
7,081.8
6,198.9
4,517.5
1,681.5
2
388.0
273.8
114.2
31.3
1,596.2
Rice:
Production (crop estimate) |f
mil bags #
California mills:
Receipts, domestic, rough
mil. lb..
Shipments from mills, milled rice
do....
Stocks, rough and cleaned (cleaned basis), end
of period
..
mil. lb..
Southern States mills (Ark., La., Tenn., Tex.):
Receipts rough from producers
mil. lb .
Shipments from mills, milled rice
do....
Stocks, domestic, rough and cleaned (cleaned
basis) end of period •
.
mil. lb .
Exports
do....
Price, wholesale, No. 2, medium grain (Southwest Louisiana)
$ per lb..
Rye:
Production (crop estimate)
fl
mil bu
Stocks (domestic) end of period
do
Price, wholesale. No. 2 (Minneapolis^
$ per bu..
Wheat:
Production (crop estimate), total
Spring wheat 1J
Winter wheat
fl
. . .
Distribution, quarterly @ @
c)
2
do
do
do
do....
Exports, including malt §
do....
Prices, wholesale (Minneapolis):
No 2 malting .
$ per bu..
No. 3, straight
do....
Corn:
Production (crop estimate, grain only) fl .. mil. bu..
Stocks (domestic), end of period, total
do....
On farms ..
do....
Off farms
do....
Exports, including meal and flour
do....
Price, wholesale:
Weighted avg., selected markets, all grades
$ per bu..
7
r
r
4.32
4.59
4.43
SURVEY OF CURRENT BUSINESS
January 1980
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
S-25
1978
Annual
Nov.
1979
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
July
Aug.
Sept.
Nov.
Oct.
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS—Continued
Wheat flour:
Production:
Flour $
thous. sacks (100 Ib.)
Offal $
thous. sh. tons..
Grindings of wheat iji
thous bu
Stocks held by mills, end of period
thous sacks (100 Ib )
Exports
do....
Prices, wholesale:
Spring, standard patent (Minneapolis)
$ per 100 Ib..
Winter, hard, 95% patent (Kans. City)
do....
23738
416
52934
21942
381
48893
22817
404
50886
21542
374
48 163
23454
401
52454
22291
382
50205
24573
422
55093
22532
392
50308
23508
403
51995
26368
456
58193
'igjn
357
3214
486
382
1 165
3477
1 163
752
2689
3895
1727
1669
2,489
2,218
1,223
7.160
6.246
8.012
7.467
8.400
7.925
8.138
7.788
7.813
7.550
8.038
7.775
8.313
8.175
8.300
8.125
9.013
8.800
9.288
9.075
10.638
10.388
10.513
10.088
10.463
10.075
10.563
10.100
11,916
12,553
1,081
978
1,057
878
1,063
1,066
1,232
1,195
1,241
1,363
1,156
1,407
1,136
310
168
280
175
346
236
280
175
280
171
259
156
239
136
235
129
263
153
327
201
409
271
528
382
589
431
r
613
r
442
427
271
0.237
0.260
0.245
0.250
0.265
0.280
0.290
0.285
0.285
0.260
0.255
0.225
0.230
0.205
0.240
179.5
186.2
15.8
16.5
16.3
146
163
15.8
16.1
15.5
15.9
15.9
15.4
16.1
15.9
39
30
38
25
35
26
38
25
22
26
18
24
24
21
19
22
27
22
23
23
33
26
28
25
30
24
T
23
r
26
30
24
0.624
0.603
0.672
0.716
0.713
0.677
0.735
0.687
0.619
0.648
0.619
0.640
0.620
0.597
0.663
4,696
38717
3620
36948
274
3029
267
2834
265
3090
212
2 559
245
2670
200
2366
188
2622
162
2554
190
2492
216
2860
193
2390
225
2837
210
2593
40.38
38.74
48.19
52.34
56.16
69.24
53.82
60.75
78.60
55.54
64.19
78.00
60.35
69.95
80.73
64.88
75.61
91.48
71.04
82.55
97.50
75.00
86.83
104.56
73.99
82.20
110.35
68.53
75.00
94.25
67.06
72.07
92.39
62.74
72.37
88.74
67.84
77.81
96.68
65.81
76.34
96.48
67.00
78.92
73.88
74,019
74,139
6,737
6,101
6,393
5,693
7,113
6,962
7,284
6,678
6,734
7,662
6,840
8,736
8,097
41.12
48.67
48.68
49.73
52.11
54.93
49.66
45.29
43.77
39.98
38.58
38.41
38.80
34.74
36.13
38.30
198
224
234
230
240
24 2
223
195
186
159
14 4
14 0
149
14 1
152
156
455
386
275 784
4,878
618 125
4 160
17,994
277 844
4,855
621 276
3214
842
10.713 10.438
10.600 "10.463
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil. Ib..
Stocks, cold storage (frozen), end of period, total
mil. Ib..
Turkeys
do
Price, in Georgia producing area, li ve broilers
$ per Ib..
Production on farms @
mil. cases §..
Stocks, cold storage, end of period:
Shell
thous. cases §..
Frozen
.
mil Ib
Price, wholesale, large (delivered; Chicago)
$ per doz..
0.250
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
Cattle
thous. animals
do
Prices, wholesale:
Beef steers (Omaha)
$ per 100 Ib..
Steers, stocker and feeder (Kansas City) .... do....
Calves, vealers (So. St. Paul)
do....
Hogs:
Slaughter (federally inspected)
thous. animalsPrices:
Wholesale, average, all weights (Sioux City)
$ per 100 Ib..
Hog-corn price ratio (bu. of corn equal in value
to 100 Ib live hog)
Sheep and lambs:
Slaughter (federally inspected)
thous. animals..
Price, wholesale, lambs, average (Omaha)
$ per 100 Ib..
6,133
5,169
413
396
391
354
431
425
421
371
384
415
410
53.38
63.49
59.50
64.00
73.75
71.25
61.25
70.50
70.75
65.00
61.52
60.62
67.01
65.91
65.00
. mil Ib
do....
do
do....
39 172
567
1315
1,741
38 119
724
X
1338
2,072
3345
715
119
201
3094
724
111
181
3281
736
102
201
2758
711
95
184
3093
763
117
214
2882
785
99
201
3 133
791
100
190
2990
747
124
214
2960
688
103
168
3328
579
109
141
2879
551
119
142
3556
r
606
135
143
3306
658
119
188
do
do....
do..
do
25780
327
93
1377
24610
414
*388
1635
2083
396
32
165
1941
414
33
145
2110
440
28
160
1735
413
31
151
1816
436
36
171
1619
422
31
157
1798
413
22
153
1 756
396
35
166
1716
378
24
131
1953
329
34
106
1649
305
30
107
1977
r
316
27
107
1812
330
33
149
Price, wholesale, beef, fresh, steer carcasses,
choice (600-700 Ibs.) (East Coast) # .... $ per Ib..
0.662
0.839
0.845
0.884
0.974
0.975
1.046
1.086
1.086
1.036
1.008
0.972
1.018
0.983
1.029
67.78
77.55
70.00
67.75
MEATS
Total meats (excluding lard):
Production total ....
.
..
Stocks, cold storage, end of period
Exports (meat and meat preparations)
Imports (meat and meat preparations)
Beef and veal:
Production total
Stocks, cold storage, end of period
Exports
Imports
2
1.055
Lamb and mutton:
Production total
Stocks, cold storage, end of period
mil Ib
do....
341
10
300
12
25
12
24
12
23
11
22
11
27
12
25
12
25
13
21
11
22
12
23
12
23
11
26
12
23
11
Pork (excluding lard):
Production total
Stocks, cold storage, end of period
Exports . . . .
Imports
mil Ib
do....
do
do
13051
186
289
298
13209
242
'346
347
1236
245
36
29
1 129
242
26
29
1 147
225
23
31
1 001
220
18
27
1 251
247
23
33
1237
278
26
33
1309
292
33
28
1213
270
32
35
1221
227
27
28
1352
182
25
27
1206
179
28
25
1553
220
30
28
1471
258
29
33
0.900
1.092
1.086
1.124
1.078
1.097
0.885
1.254
0.880
1.251
0.939
1.119
0.788
1.114
0.752
1.071
0.707
1.106
0.686
1.064
0.688
1.012
0.731
1.061
0.792
0.965
0.891
0.914
0.927
0.986
209.7
2.500
18.6
2.500
20.2
2.500
273
2.500
267
2.500
146
2.500
128
1.570
88
1.650
13.7
1.720
11.8
1.580
15.7
1.570
5.7
1.660
10.1
1.590
10.0
1.545
1.550
1,273
44
2.080
1,593
67
2.050
2.120
Prices, wholesale:
Hams, smoked composite
$ per Ib..
Fresh loins, 8-14 Ib. average (New York).... do....
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
Imports (incl shells)
thous Ig tons
Price, wholesale, Accra (New York)
$ per Ib..
Coffee (green):
Inventories (roasters', importers', dealers'),
end of period
thous bags fl
Roastings (green weight)
do....
Imports total
From Brazil
Price, wholesale, Santos, No. 4 (N.Y.)
Confectionery manufacturers' sales
Fish:
Stocks, cold storage, end of period
See footnotes at end of tables.
4
0.865
0.952
172 1
2.515
r6
6
3
6
2717
3,755
2405
4,303
2345
4,681
1684
14,233
2347
16,299
do,...
do
$ per Ib..
mil $
14808
2453
3059
18 133
2679
5
1.484
3337
1689
308
1.530
310
1651
280
1.460
312
1747
333
1.460
258
1353
101
1.270
288
1631
82
1.360
279
2037
252
1.380
1619
75
1.480
1617
173
1.800
1,597
216
2.090
1,404
250
2.010
1,632
225
2.060
mil. Ib..
420
422
426
422
379
343
292
295
297
323
384
434
427
2347
4,497
r
454
r
458
P
470
S-26
SURVEY OF CURRENT BUSINESS
1977
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1978
Annual
January 1980
1978
Nov.
1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO—Cont.
MISCELLANEOUS FOOD PRODUCTS— Cont.
Sugar (United States):
Deliveries and supply (raw basis): §
Production and receipts:
Production
thous sh tons
Deliveries total
.
For domestic consumption
Stocks, raw and ref., end of period
Exports raw and refined
5,054
11,242
11,207
4,349
do
do....
do....
sh tons
Imports:
Raw sugar, total
thous. sh. tons..
From the Philippines . . .
.
do
Refined sugar total
do
Prices (New York):
Raw, wholesale
$ per lb..
Refined:
Retail (incl. N.E. New Jersey)
$ per 5 lb..
WTiolesale (excl excise tax)
$ per lb
20,335
5,130
1,136
656
1
317
4,575
1,046
963
710
10,892
10,841
3,734
853
849
3,084
840
840
3,734
842
835
3,927
494
777
771
4,034
965
960
3,662
205
813
808
3,644
204
894
890
3,559
123
949
945
3,280
58
927
917
2,950
31
1,107
1,099
2,220
14,138
1,077
1,174
865
464
1,177
1,422
764
1,241
1,053
717
1,901
1,257
1,000
1,007
327
66
348
134
343
0
214
0
276
8
339
56
657
47
637
77
355
0
346
0
357
47
471
85
584
20
0.139
0.141
0.146
0.157
0.154
'0.157
0.159
0.162
0.180
0.225
0.234
0.261
2
4,177
2
882
(5)
0.109
6
0.143
0.142
0.145
0.138
0.150
0.153
7
1.211
0.204
151,751
0.214
8,877
0.220
12,332
0.223
14,797
0.219
10,568
0.220
0.222
thous lb
1.118
0.169
3
203,012
15,584
13,822
0.220
13,556
14,352
0.226
13,361
0.232
14,809
0.229
15,841
0.229
16,992
15,432
FATS, OILS, AND RELATED PRODUCTS
Baking or frying fats (incl. shortening):
Production
mil lb
Stocks end of period @ .
do
3,841.1
113.0
4,044.6
106.7
370.1
110.0
332.2
106.7
334.0
121.3
314.1
128.5
378.7
105.9
335.9
122.4
377.2
133.2
335.9
138.3
329.0
135.4
367.1
130.0
334.6
123.9
410.3
131.9
351.6
116.4
do....
do
4,352.9
105.4
4,849.2
123.0
401.3
120.4
389.1
123.0
397.3
117.1
365.6
109.8
428.3
115.3
399.5
122.0
484.1
138.0
422.6
130.8
426.4
131.8
450.7
126.3
413.1
141.5
'448.0
126.7
439.7
131.1
do....
do
2,535.0
79.9
2,519.5
69.5
220.6
58.9
250.0
69.5
233.1
66.8
214.8
82.1
242.9
67.5
186.8
77.3
197.5
75.2
193.0
78.3
188.3
68.7
199.0
77.1
205.9
72.7
r
225.8
r
81.6
223.9
64.9
0.507
0.529
0.533
0.528
0.523
0.523
0.535
0.551
0.546
0.542
0.554
0.560
0.561
0.565
0.565
769.4
787.9
42.4
835.0
847.8
55.1
78.8
72.1
45.0
80.9
64.7
55.1
77.8
67.5
63.4
68.6
68.6
57.6
81.3
73.0
46.2
74.2
64.6
45.3
82.9
68.6
44.4
77.2
58.6
47.0
75.1
64.3
43.6
76.9
60.9
46.5
67.7
54.3
49.1
6,106.4
3,180.5
347.2
5,815.9
3,219.5
346.6
501.8
270.1
348.8
486.7
244.8
346.6
503.6
267.7
398.7
432.8
255.1
374.8
488.5
268.8
369.4
449.1
259.9
358.2
488.1
286.7
393.8
469.4
253.3
394.0
472.7
265.9
372.5
529.2
270.0
399.3
mil lb
do....
729.4
878.7
60.0
72.7
45.0
167.2
55.9
66.3
39.9
994.3
59.7
75.4
40.3
100.7
46.7
55.4
do....
do
768.3
914.2
44.4
1,022.5
41.3
83.7
68.0
83.3
43.7
87.7
49.8
69.1
41.6
55.6
48.5
69.8
42.0
52.6
39.1
62.0
31.6
70.3
50.3
50.4
42.8
44.5
do
do
671.9
577.0
720.0
581.1
55.8
43.5
69.4
54.2
67.4
45.7
41.6
71.5
50.5
69.9
36.1
84.5
69.7
52.2
48.4
85.6
60.6
49.2
537.9
70.4
47.6
44.2
49.1
61.0
54.9
41.7
537.6
33.4
59.8
46.3
43.7
74.6
1,254.6
1,188.8
625.3
142.3
1,417.7
1,344.8
697.3
127.1
123.5
100.4
54.6
127.1
731.2
0.299
728.8
0.332
134.0
116.0
64.6
123.0
29.2
0.328
82.5
0.330
134.4
118.8
55.9
152.2
56.7
0.335
128.0
113.1
57.0
152.9
71.2
0.380
135.3
126.4
60.9
141.0
89.9
0.385
115.0
108.2
48.9
143.1
51.3
0.395
8,836.5
7,789.5
7,451.1
864.0
1,666.9
0.289
10,621.4
8,713.7
8,175.2
970.6
1
1,944.5
0.309
974.8
747.7
709.3
837.1
154.8
0.293
1,050.4
765.7
707.5
970.6
175.4
0.305
989.1
753.3
695.1
932.2
219.1
0.309
902.3
681.7
636.2
942.8
249.8
0.325
982.2
768.9
755.3
1,004.2
199.0
0.321
939.6
760.1
682.4
987.3
185.6
0.319
Tea, imports
Salad or cooking oils:
Production
Stocks end of period @
Margarine:
Production
Stocks end of period @ .
Price, wholesale (colored; mfr. to wholesaler or
large retailer; delivered)
$ per lb..
Animal and fish fats:
Tallow, edible:
Production (quantities rendered)
mil. lb..
Consumption in end products
do
Stocks, end of period tf
do....
Tallow and grease (except wool), inedible:
Production (quantities rendered)
do
Consumption in end products
do....
Stocks, end of period
fl
do
Vegetable oils and related products:
Coconut oil:
Production refined ....
Consumption in end products
Stocks, refined, end of period
Imports
Corn oil:
Production* Crude
Production: Refined
fl
Consumption in end products
do....
Stocks, crude and ref, end of period fl do....
Cottonseed oil:
Production: Crude
do ...
Production* Refined
do
Consumption in end products
do....
Stocks, crude and ref., end of period fl do....
Exports (crude and refined)
do....
Price, wholesale (N.Y.)
$ per lb..
Soybean oil:
Production: Crude
mil. lb..
Production: Refined
do
Consumption in end products
do....
Stocks, crude and ref., end of period U
do....
Exports (crude and refined)
do....
Price, wholesale (refined; N.Y.)
. $ per lb..
TOBACCO
Leaf:
Production (crop estimate)
Stocks, dealers' and manufacturers',
end of period
Exports incl scrap and stems
Imports, incl. scrap and stems
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt .
.
Taxable
Cigars (large) taxable
Exports, cicarettes
See footnotes at end of tables.
4
mil. lb..
mil lb
thous. lb..
do....
millions
do
do
do....
3
1,912
4
44.4
60.1
47.3
70.4
r
81.3
'72.4
'41.4
69.8
61.6
43.9
462.0
241.5
375.7
'533.1
'276.0
'403.2
511.4
247.1
397.7
46.3
58.5
40.2
86.4
47.2
58.0
43.7
77.4
38.7
54.4
48.2
86.6
51.5
54.9
59.5
92.1
61.5
41.4
63.9
53.0
61.8
56.8
63.3
52.2
45.0
89.2
40.5
91.7
45.3
79.8
60.3
51.9
47.7
70.2
53.2
'68.8
50.6
63.0
103.7
97.9
64.8
141.0
52.5
0.380
86.3
78.7
45.9
139.5
63.1
0.380
73.8
78.7
85.5
92.7
53.5
56.7
119.2
99.1
41.0
116.9
63.8
0.405
53.9
117.2
18.1
0.388
43.1
86.4
56.6
0.390
'98.6
69.6
44.9
'93.1
34.0
0.365
964.7
835.4
775.0
1,043.0
107.3
0.311
930.5
742.8
701.6
922.9
299.0
0.321
899.9
748.3
711.4
915.4
166.2
0.346
856.7
762.8
744.8
815.1
187.4
0.340
848.9 '1,020.3
693.0
805.9
700.9 '781.4
775.8 '819.8
159.1
127.8
0.350
0.330
50.2
126.0
48.9
0.340
1,574
5,070
628,564
316,236
5,071
687,772 "95,786
335,981 21,474
5,071
86,258
21,548
35,559
42,866
78,133
592,006
3,776
66.835
85,135
614,208
3,621
74.359
5,456
42,125
271
6.160
6,842
55,455
246
4.398
7,522
53,689
323
6.846
50,142
31,267
4,905
57,079 "51,797 "42,244
28,917 30,072 35,464
4,518
25,312
26,058
37,980
28,500
29,512
32,767
30,051
32,095
41,608
39,173
78,922
26,044
6,778
48,628
243
5.639
8,896
58,873
331
7.758
8,448
52,381
322
7.972
7,423
45,798
235
6.698
7,825
6,574
55,765 '52,997
311
289
7.651
5.058
8,479
61,321
323
6.859
7.146
7,713
48,354
249
6.417
9,082
53,199
291
6.687
6.285
1,067.8
789.2
733.4
868.1
208.5
0.332 ""'6.316
8
2,025
0.565
SURVEY OF CURRENT BUSINESS
January 1980
1977
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1978
Annual
S-27
1979
1978
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value total #
Calf and kid skins
Cattle hides
thous $
thous. skins..
thous hides
Imports:
Value, total #
Sheep and lamb skins
Goat and kid skins
thous. $..
thous. pieces..
do....
Price, wholesale, f.o.b. shipping point:
Calfskins, packer, heavy, 9 1/2-15 Ib
Hides, steer, heavy, native, over 53 lb
58503
177
1 754
91 186
241
2676
61605
207
1 635
77 390
264
2 056
98 309
233
2 405
91 698 101 425
126
267
2358
2 130
88329
204
2034
78702
'216
1627
91 814
196
2018
79971
'l69
1993
71969
140
1830
78697
143
2041
105 600
17,807
1762
7 100
935
175
7000
739
158
9200
1,321
352
8400
1581
145
10000
1835
191
10500
1449
121
24800
2,967
264
16500
1,425
231
11900
1,080
134
15400
1,331
245
8600
804
83
7400
514
170
8 100
598
198
1.346
0.472
1.650
0.548
1.650
0.518
1.800
0.603
2.000
0.653
2.200
0.913
2.200
0.893
2.200
0.905
1.770
0.829
1.550
0.777
1.550
0.708
1.360
0.654
1.360
0.677
1.150
0.593
2Q8 799
17947
17 176
13854
16 014
18 833
16480
15664
18526
13 153
15265
14456
13895
16089
235.2
270.4
2675
2847
2847
3380
3667
417.1
394.0
353.8
3408
294.8
304.9
284.0
582 906 *694 617
2508
2665
24488
24792
96600
15,468
1 137
3
$ per lb..
do....
0.914
0.370
1.100
0.571
LEATHER
Exports:
Upper and lining leather . .
Price, wholesale, f.o.b. tannery:
Sole, bends, light
thous sq ft
2
206 276
index, 1967-100..
1
4
206.1
291.2
LEATHER MANUFACTURES
Footwear:
Production, total
thous pairs..
Shoes, sandals, and play shoes, except athletic
thous. pairs.
Slippers
do
Athletic
..
do
Other footwear
do....
Exports
413 726
418 948
33826
30 175
35668
33448
37034
31918
35355
30491
24374
32350
r
29 591
33483
316 041
77602
15978
2,805
314 695
79 353
20852
2669
24771
6987
1743
214
23472
4 667
1757
181
28405
5 334
1504
310
26281
5 326
1399
334
29356
6034
1279
246
27367
6 176
1*345
352
23223
5 718
l'097
351
19726
3 355
882
341
25351
5268
1300
341
r
22
667
r
5463
1 197
179
26 138
5 622
1378
251
5 411
6 179
612
679
549
526
657
24 811
5 444
1 280
280
452
512
554
570
636
790
698
758
1973
1973
1973
1973
2046
2070
2118
2190
2190
182.9
2190
!82.9
2238
183.0
2346
180.1
2346
180.1
do
Prices, wholesale f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt
index, 1967—100..
193.3
Women's oxfords, elk side upper, Goodyear
welt
.
index, 1967-100..
Women's oumos. low-medium aualitv
do....
1718
144.9
5
5
211.3
1853
157.5
r
2346
180.1
LUMBER AND PRODUCTS
LUMBER—ALL TYPES #
National Forest Products Association:
Production, total
Hardwoods
Softwoods. ..
Shipments, total
Hardwoods
Softwoods
mil. bd. ft..
do
do ...
do....
do
do....
.
Stocks (gross), mill, end of period, total
Hardwoods
.
Softwoods
Exports total sawmill products
Imports total sawmill products
2
2
3 102
618
2484
2931
595
2336
2877
619
2258
2877
607
2270
3306
640
2666
3 119
618
2501
3219
647
2572
3 143
664
2479
3018
612
2406
3,355
689
2666
3 131
632
2499
3412
665
2747
2
2
38 124
7372
30752
3 116
600
2516
2907
572
2335
2813
604
2209
2756
589
2 167
3279
620
2659
3 107
604
2503
3329
644
2685
3087
632
2455
3 128
567
2561
3,408
649
2,759
3 106
612
2,494
3224
606
2618
37 520
6597
30923
37 755
6712
31043
38 078
7402
30676
do....
do
do....
4,851
772
4,079
4,805
802
4003
4,731
783
3948
4,805
802
4003
4,811
817
3994
4,932
835
4097
4,964
856
4 108
4,975
870
4 105
4,868
875
3,993
5,003
907
4,096
4,893
952
3941
4,843
995
3,848
4,875
1022
3,853
5,063
1081
3982
do....
do
1,670
10698
1300
12 199
96
979
100
954
97
925
121
761
129
998
126
925
127
1237
126
1011
106
1010
121
1043
147
r
999
r
l!2
r
8 712
565
8894
'553
629
526
716
553
745
622
646
639
800
685
752
690
596
546
793
617
694
634
639
575
679
592
651
540
585
499
647
626
860
924
SOFTWOODS
Douglas fir:
Orders new
Orders unfilled end of period
mil bd ft
do
Production ....
Shipments
Stocks (gross) mill end of period
do
do
do
8796
8781
964
8845
8906
903
701
715
909
683
689
903
663
676
890
668
629
929
768
754
943
733
747
929
706
740
895
687
722
860
640
677
823
668
698
793
685
662
816
726
703
839
Exports total sawmill products
Sawed timber
Boards planks scantlings etc
do
do
do
488
129
359
478
119
359
34
7
27
35
7
28
31
g
23
46
11
35
46
13
33
46
13
33
54
22
32
42
13
29
38
14
24
43
12
31
51
16
35
43
13
30
230.38
253.39
271.51
262.40
258.77
260.53
261.46
267.69
271.17
270.53
274.89
303.60
320.46
304.34
2
2
8319
505
626
510
618
505
669
538
691
607
792
618
646
623
654
636
642
622
742
781
686
566
669
706
691
655
670
711
765
671
663
658
622
586
665
654
745
675
2
8287
2
563
602
638
632
628
525
743
705
1 168
15300
1 178
1 142
1 179
1 138
1,115
13321
14995
15285
8585
16458
1,121
22263
18685
356.9
361.7
362.8
364.9
370.1
372.8
377.6
378.9
377.6
372.9
288.6
290.4
291.9
293.0
304.0
308.8
311.6
316.0
320.4
320.4
. .
Price, wholesale:
Dimension, construction, dried, 2" x 4", R.L.
$ per M bd. ft..
Southern pine:
Orders new
....
Orders, unfilled, end of period
Production
Shipments
.mil bd ft
do....
. .. do....
do
Stocks (gross), mill and concentration yards, end
of period
mil bd ft
Exports total sawmill products
M bd ft
Prices, wholesale (indexes):
Boards, No. 2 and better, 1" x 6", R.L.
1967=100..
Flooring, C and better, F. G., 1" x 4", S.L.
1967=100..
See footnotes at end of tables.
8291
470
2
8
2
198
8264
8284
1 166
1 169
1 146
1 169
1 187
157 806
152 121
15 751
12 518
15 273
1207
25 522
329.9
347.1
347.8
348.6
349.4
276.9
284.3
285.4
285.4
286.5
271.0
250.2
r
r
673
636
726
749
283.66
249.76
1,159
SURVEY OF CURRENT BUSINESS
S-28
1977
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1978
Annual
January 1980
1978
Nov.
1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
LUMBER AND PRODUCTS—Continued
SOFTWOODS—Continued
Western pine:
Orders, new
Orders, unfilled, end of period
mil. bd. ft..
do....
10,331
590
9,946
469
717
462
777
469
796
596
715
612
821
606
808
603
833
503
831
524
895
532
989
531
866
488
825
411
703
381
Production
Shipments
do
do....
10309
10,295
10033
10,067
786
800
760
770
710
669
731
699
863
827
814
811
898
933
835
810
829
887
941
990
882
909
950
902
760
733
Stocks (gross), mill, end of period
do....
1,329
1,295
1,305
1,295
1,336
1,368
1,404
1,407
1,372
1,397
1,339
1,290
1,263
1,311
1338
31701
30449
332 11
36687
371 17
34259
338 16
306 16
30195
30948
316 41
27735
80
85
Price, wholesale, Ponderosa, boards, No. 3,
1" x 12" R L (6' and over)..
$ per M bd ft
3
23153
237 07
HARDWOOD FLOORING
Oak:
Orders new
Orders unfilled end of period
mil bd ft
do....
1128
7.9
1086
92
83
96
63
92
94
92
73
92
84
9.1
73
8.3
103
9.4
76
9.9
69
95
10 1
95
74
95
do....
do
do....
109.8
1100
6.2
104.7
1063
2.7
9.4
87
3.4
8.0
72
2.7
8.3
94
1.6
7.8
72
2.1
8.3
86
1.9
8.2
80
2.1
9.1
92
2.0
8.5
87
2.7
7.0
73
2.4
10.3
10 1
2.6
8.0
74
3.2
Production
Shipments
Stocks (gross), mill, end of period
r
9.2
89
3.4
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
Scrap
Pig iron
thous. sh. tons..
do
do....
2,003
6 175
51
2,508
9278
51
194
973
8
248
944
11
193
853
35
165
1 145
5
217
871
2
226
847
20
237
870
1
255
893
6
234
1001
16
250
1 179
8
244
111
7
281
926
2
Imports:
Steel mill products
Scrap
Pig iron
do
do....
do
19307
625
373
21 135
794
655
2016
67
75
1372
60
48
1264
46
49
1329
48
33
1096
68
38
1072
73
47
1655
59
22
1366
72
113
1514
104
25
1784
50
44
1641
47
39
1603
50
10
thous. sh. tons..
do
do....
do
49,523
'47 873
'92 090
^360
^i^eo
*51 804
99,133
*8313
4442
4342
8397
8458
4323
4239
8300
8313
4222
4 147
8200
8008
4 110
4019
7928
7780
4,900
5 122
9428
8000
4,658
4884
8967
8 138
4,816
4843
9,114
8272
4539
4907
8728
8444
4392
4435
7969
8763
4417
4453
8 101
8845
4 119
4088
7676
8808
55.99
8035
73.84
7829
7905
8350
8595
8850
9448
9350
10474
10850
122.59
13300
108.20
11150
93.16
9600
105.33
11400
96.99
10250
92.03
9500
8852
9000
8633
8650
Iron ore (operations in all U.S. districts):
Mine production
thous. Ig. tons..
Shipments from mines . .
do
Imports
do....
*55,750
54053
37,905
80,718
82539
29,924
6,546
7667
4,015
6,552
7095
3,057
6,144
3296
2,108
5,634
2486
1,479
6,681
2792
854
7,069
5043
2,242
7,571
9080
3,567
7,748
9350
3,993
7,884
10362
4,296
7,946
10 195
3,700
7,053
9495
2,933
2410
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do
Consumption at iron and steel plants
do....
Exports
do
94944
108,462
2 143
114 227
116,305
3762
11524
9,954
733
9732
10,341
435
4711
9,457
183
3633
8,988
31
4436
10,540
20
7443
10,251
343
12276
10,932
517
13294
10,349
411
15279
10,359
576
12804
9,701
636
12 122
8,869
349
11548
8,899
264
do
do....
do
do....
59390
14,140
42271
2,979
55339
12,469
39301
3,569
56432
12,982
40049
3,401
55339
12,469
39301
3,569
53028
14,852
34473
3,703
50685
18,000
29059
3,626
47801
21,886
22862
3,053
46745
23,912
19943
2,890
46563
22,406
21202
2,955
48027
20,809
24 173
3,045
50968
19,333
28960
2,675
51451
17,045
31869
2,537
52013
14,625
35031
2,357
do....
834
842
64
63
62
50
60
57
85
122
61
34
85
53
Pig iron:
Production (excluding production of ferroalloys)
thous. sh. tons..
Consumption
do....
Stocks end of period
do
81,328
82,017
1309
87,687
88,384
889
7,533
7,594
965
7,658
7,721
889
7,064
7098
852
6,636
6678
835
7,953
8,043
826
7,726
7,729
737
8,277
8,317
739
8,026
8,038
730
7,505
7,774
808
7,351
7,403
860
6,762
6951
879
6,779
202.50
202.50
11309
860
11541
828
Iron and Steel Scrap
Production
Receipts net
Consumption
Stocks end of period
Prices, steel scrap, No. 1 heavy melting:
Composite (5 markets)
$ per Ig. ton..
Pittsburgh district
do
2
Ore
Stocks total end of period
At mines
At furnace yards
At U.S. docks
Manganese (mn. content), general imports
Pig Iron and Iron Products
4
183.11
196.00
203.00
203.00
20300
203.00
203.00
203.00
203.00
203.00
203.00
Castings, gray and ductile iron:
Orders, unfilled, for sale, end of period
thous. sh. tons .
Shipments total
do
For sale
do....
935
15318
7,496
912
15294
7,840
907
1312
663
912
1 136
561
929
1239
600
997
1210
574
1039
1478
740
998
1302
662
1006
1408
173
993
1339
698
954
1 140
615
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous. sh. tons.
Shipments total
do
For sale
do....
65
829
458
66
816
446
62
71
39
66
61
35
66
70
36
68
68
35
67
78
41
63
65
33
61
69
34
54
61
32
51
49
24
137 031
86.8
11654
894
11812
877
11 105
835
10562
879
12576
94.5
12 196
93.4
12789
94.8
12230
93.7
11821
89.9
734
161
141
797
155
136
926
171
153
938
170
150
974
195
171
1004
160
140
1062
183
159
1072
170
148
1 107
141
124
Price, basic furnace
$ per sh. ton..
Steel, Raw and Semifinished
Steel (raw):
Production
Rate of capability utilization
thous sh tons
percent..
Steel castings:
Orders, unfilled, for sale, end of period
thous sh tons
Shipments, total
do....
For sale, total
do....
See footnotes at end of tables.
1
125 333
78.4
451
1,718
1.488
1
797
1,863
1.627
10891
844
24042
SURVEY OF CURRENT BUSINESS
January 1980
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
1979
1978
Nov.
Annual
S-29
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
METALS AND MANUFACTURES—Continued
Steel MiU Products
Steel products, net shipments:
Total (all grades)
thous. sh. tons..
By product:
Semifinished products
. ... do . .
Structural shapes (heavy) steel piling
do
Plates
do .
Rails and accessories
do
Bars and tool steel total
do
Bars* Hot rolled (incl. light shapes)
do....
Bars' Reinforcing
....
.
do
Bars* 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
Sheets: Cold rolled
do .
By market (quarterly):
Service centers and distributors
do....
Construction, incl. maintenance
do....
Contractors' products
do
Automotive
do....
Rail transportation
do
Machinery industrial equip., tools ...
. do
Containers, packaging, ship, materials
do....
Other
..
..
..
do
91,147
'97,935
*3991
4382
7529
1863
^,070
'4667
1
8,601
1
1703
1
16
1
7,813
423
424
690
145
8,196
461
424
746
154
1430
856
408
159
619
184
524
3653
1 384
1420
8206
7,996
10,293
7438
10 187
8,977
8,319
8,475
7,929
8,355
505
461
768
169
1556
893
459
196
421
443
762
147
1427
838
406
176
678
194
528
3719
1407
1438
434
446
804
166
1530
860
466
196
513
462
773
173
484
313
744
181
1349
756
411
173
1459
793
468
190
675
203
545
3673
1366
1418
659
193
543
3263
1 185
1298
723
218
522
3512
1291
1395
411
400
662
155
1401
805
396
191
410
391
648
155
545
542
850
183
462
477
739
167
505
535
905
188
1 440
858
380
193
1851
1 109
499
232
1369
781
427
154
641
199
526
3812
1315
1607
601
195
461
3695
1322
1 499
781
245
753
4543
1674
1800
637
207
426
2952
1084
1 165
1786
1030
513
234
754
237
578
4699
1672
1888
7490
2400
6382
41687
14558
17684
915
10,045
*4704
2084
8399
2510
6 100
43609
15447
17,821
15,346
7,553
4500
X
21 490
3238
5566
6,714
26740
17,333
*9,612
3480
21253
3549
5992
6,595
30 121
34 1
372
356
372
362
359
348
362
360
364
10 1
7.6
117
8.0
110
8.0
117
80
112
8.2
108
82
104
7.4
11 1
8.5
112
7.7
115
7.6
15420
9,362
4 179
1 794
1370
796
411
155
652
199
410
3499
1292
1398
4,641
2,597
1048
4051
1018
1552
1,758
8057
4,847
2666
1026
5303
1055
1602
1,677
8426
4,761
2345
1017
5850
985
1579
1847
8 112
4,320
2463
922
5526
1 015
1486
1544
7330
768
213
531
4006
1536
1525
2
1,492
2
371
2
352
2
1,362
2
359
2
503
2
563
2
2853
Steel mill shapes and forms, inventories, end of
period—total for the specified sectors:
mil. sh. tons.
Producing mills, inventory, end of period:
Steel in process ..
mil sh. tons
Finished steel
do....
Service centers (warehouses), inventory, end of
period
mil. sh. tons..
Consumers (manufacturers only):
Inventory, end of period
do....
Receipts during period
do
Consumption during period
do. .
6.6
7.1
6.9
71
68
71
7.0
68
7.1
7.3
98
635
639
104
675
669
97
53
56
104
57
50
100
54
58
98
54
56
100
64
62
98
52
54
100
63
61
100
58
58
100
53
49
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. sh. tons..
Recovery from scrap (aluminum content)
do
4539
1591
4804
1407
404
132
418
117
418
120
379
119
419
132
402
128
423
131
410
125
428
117
430
134
419
115
6733
738
7569
342
43 1
28
350
25
696
31
410
24
539
348
443
362
57.8
60
360
64
626
42
308
34
31.9
19
39.4
21
978
2079
0.5134
1266
1970
0.5308
23 1
154
143
157
77
277
83
176
122
230
05800
0.5800
05800
0.5800
84
19.0
06008
192
26.0
05534
194
19 1
05800
120
26.3
05390
154
184
0.5500
148
172
0.5300
324
185
05500
12,808
10419
6,040
2009
13,982
11332
6,409
1986
1 179
935
519
174
1204
928
523
154
1270
1007
573
194
1 147
911
515
183
1374
1096
633
203
1 129
936
524
173
1252
1011
575
181
1,191
961
540
179
1 123
917
525
134
1,173
951
540
152
5706
5496
5550
5496
5 395
5242
5009
5 025
4 ggo
4905
4935
4928
15040
1,496 2
1 411 0
852
14903
1,533 1
14089
1242
1276
1474
1361
113
1139
1428
1168
260
1064
1236
1102
134
106 1
1273
1192
80
1215
1334
1247
86
1229
1343
1273
71
1292
134 1
1275
65
1195
1250
1185
65
1160
1168
1106
63
1260
132 1
1240
81
1212
104.3
947
9.6
3760
4530
390
430
412
376
49 1
49 o
475
527
528 1
3940
6075
4634
248
123
24 2
66
19 2
112
17 2
70
305
157
20 5
149
280
147
299
23 1
252
172
38 1
280
267
20.3
306
175
2203
527
3216
1093
344
53
348
88
298
98
263
94
33 1
116
255
100
33.0
89
229
87
30.3
48
229
29
17.8
29
22.5
27
2202
649
178
2,417
491
124
534
126
595
491
124
420
101
388
100
664
372
110
352
116
304
106
0.7119
0.7190
0.7657
0.8970
0.9672
0.9832
0.9123
0.8677
0.9134
0.9585
0.9911
Imports (general):
Metal and alloys, crude
do....
Plates sheets bars etc
do
Exports:
Metal and alloys crude
do
Plates, sheets, bars etc
do....
Price, primary ingot, 99.5% minimum .... $ per lb..
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)
mil lb..
Mill products total
. do
Sheet and plate
do....
Castings . ...
.
do
Inventories, total (ingot, mill products, and
scrap) end of period
mil lb
Copper:
Production:
Mine recoverable copper
thous tons §
Refinery, primary
do....
From domestic ores
do
From foreign ores
... do
Secondary, recovered
as refined
...
do
Imports (general):
Refined, unrefined,
scrap (copper cont )
thous tons §
Refined
do....
Exports:
Refined and scrap
do....
Refined
....
. do
Consumption, refined
(by mills etc ) . .
thous. sh. tons .
Stocks refined end of period
do
Fabricators'
do....
Price, electrolytic (wirebars), dom., delivered
$ per lb..
119
7.5
0.8824
0.6677
0.6651
2670
2,691
579
2769
2,775
Lead:
Production:
Mine, recoverable lead
thous. tons §..
Recovered from scrap (lead cont )
do
589.2
7344
582.9
7530
50.0
701
49 1
676
476
546
44.0
605
42.5
651
37.0
64 1
41.8
620
42.0
652
41.4
513
34.6
488
34.6
2043
1.582.3
839
1.468.6
52
130.9
49
123.4
40
114.6
54
111.0
53
124.3
83
109.5
52
116.7
25
108.5
76
91.3
53
106.0
33
Imports (general) ore (lead cont ) metal
Consumotion. total
See footnotes at end of tables.
do
do....
826
747
150
0.6600
633
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
708
706
139
0.6532
805
785
0.9971
Dec.
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
1979
1978
Nov.
Annual
January 1980
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS—Continued
Lead—Continued
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content) ABMS
thous tons §
Refiners' (primary), refined and antimonial
(lead content)
thous tons §
Consumers' (lead content)
fl
do
Scrap (lead-base, purchased), all smelters
(gross weight)
thous. tons §..
Price common grade delivered
$ per Ib
Tin:
Imports (for consumption):
Ore (tin content)
metric tons
Metal, unwrought, unalloyed
do....
Recovery from scrap total (tin cont )
do
As metal
do....
Consumption total
do
Primary
do....
Exports, incl. reexports (metal)
do....
Stocks pig (industrial) end of period
do
Price, Straits quality (delivered)
$ per Ib..
Zinc:
Mine prod, recoverable zinc .
thous tons §
Imports (general):
Ores (zinc content)
do
Metal (slab, blocks)
do....
Consumption (recoverable zinc content):
Ores
do
Scrap all types
do....
Slab zinc: @
Production (primary smelter), from domestic
and foreign ores
thous. tons §..
Secondary (redistilled) production
do
Consumption, fabricators
do....
Exports
do
Stocks, end of period:
Producers', at smelter (ABMS)
do....
Consumers'
do
Price, Prime Western
$ per Ib..
114.7
114 1
64.9
0.5791
05800
06106
195
3,842
76
2,872
2
3,361
305
6270
7.5952
4900
3,900
270
6096
7.3952
164
260
7.6195
7.8140
217
206
250
18.5
209
58.6
23 1
41.2
159
39.4
109
36.5
76
15.1
79
225
71
22.4
65
22.1
41.0
42
94.1
34.2
48
903
36.5
35
73.6
33.5
46
90.3
184.6
1704
1728
1704
149.4
1556
1478
136.5
133.6
1131
111.9
115.4
154
1093
194
1108
182
1105
194
1108
140
902
117
886
132
910
13.1
950
12.6
990
124
1029
9.2
1120
11.8
1184
91.3
03070
866
03365
75.4
03800
86.6
03800
75.0
04076
747
04363
69.7
04575
66.8
04800
67.7
04880
59.6
05651
63.1
05807
6724
48,338
18503
1,668
68000
55500
5,462
8441
5.3460
3873
46,773
17855
1,865
63 100
4,700
4,693
5040
6.2958
193
4,518
1475
155
5400
4000
115
4,581
1545
150
5400
4,000
1477
4115
1355
135
5500
3900
286
4594
6.8423
332
4254
7.2008
176
4,957
1425
170
6400
4,700
344
5891
7.4180
154
5,033
1405
140
5400
4,000
311
6097
7.3590
700
4,298
1660
170
5400
4,300
220
5938
7.4077
736
4,882
1525
150
5300
4,200
515
6317
7.5392
46
2,905
1240
160
4900
3,800
280
5666
7.4502
718
2,530
1380
155
4900
3700
375
5040
6.9562
4496
3376
236
239
230
215
234
208
22.6
1228
576.7
2072
681 1
292
534
336
83.8
308
43.7
149
42 1
280
47.0
18 1
36.1
102
52.9
1008
238.2
990
2378
91
163
84
152
75
14.1
73
142
77
152
71
15.1
450.1
50.6
1,103.1
02
406.1
38,7
1,127 3
08
39.0
34
956
01
39.1
35
879
36.9
46
88.4
384
35
893
43.8
42
96.9
42.6
38
88.4
65.8
868
0.3439
38.4
946
0.3097
32.9
853
0.3442
(2)
38.4
946
0.3450
(2)
36.2
842
03457
(2)
(2)
34.5
770
0.3562
34.0
930
0.3724
(2)
40.4
902
0.3899
(2)
(2)
42.4
89.4
0.3939
41.0
923
0.3939
(2)
(2)
6 5726
7.9963
190
59.6
(2)
47.0
940
0.3940
52.7
84 1
0.3690
52.2
51.0
59.8
0.3580
0.3621
0.3682
4259
4717
3899
4518
l,383
1577
1,808
2232
2,248
2,435
2,209
2667
2082
2 124
4550
5 108
5307
4312
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
orders (domestic) net, qtrly #
mil $.
Electric processing heating equipment
do
Fuel-fired processing heating equip
do.
Material handling equipment (industrial):
Orders (new) index seas adj
1967 — 100
Industrial trucks (electric), shipments:
Hand (motorized)
number..
Rider-type
do
Industrial trucks and tractors (internal combustion
engines) shipments
number
3
240.8
3
680
3
92.5
2868
714
1182
2323
336 1
18,000
21409
43289
Industrial supplies, machinery and equipment:
New orders index, seas, adjusted
1967-69=100..
199.2
Industrial suppliers distribution:
r
Sales index, seas, adjusted
1967=100..
206.3
Price index, not seas. adj. (tools, material
handling equip., valves, fittings, abrasives,
fasteners, metal products, etc.)
1967=100..
191.4
Machine tools:
Metal cutting type tools:
Orders new (net) total
mil $ 2 202 05
198070
Domestic
do
Shipments total
do.... 1 650.80
Domestic
do
1 469 85
1,793.6
Order backlog, end of period
do....
Metal forming type tools:
79485
Orders new (net) total
do
730.70
Domestic
do....
Shipments total
do
62995
560.35
Domestic
do....
Order backlog end of period . .
do .
384.1
Tractors used in construction, shipments, qtrly:
Tracklaying total
units
mil. $..
Wheel (contractors' off-highway)
units..
mil $
Tractor shovel loaders (integral units only),
wheel and tracklaying types
units
mil $..
Tractors, wheel, farm, nonfarm (ex. garden and
construction types) ship qtrly
units
mil. $..
ELECTRICAL EQUIPMENT
1856
2 131
1,842
2191
3964
1,847
2472
4440
3574
1774
2326
r
2,155
2605
5948
r
5 142
4267
4954
231.1
258.0
253.4
266.0
267.6
261.7
263.5
261.9
257.2
260.3
260.2
258.4
262.2
258.3
236.5
253.3
247.2
255.5
256.4
263.0
269.1
270.8
279.4
276.3
287.1
276.1
274.8
283.4
260.6
205.3
212.5
213.8
215.7
217.0
218.5
220.2
221.5
222.8
224.6
227.3
229.1
231.3
232.9
235.0
3261
3 373 45 35290 301 15 42075 36095 37655 35770 389.90 33595 29790 34750
3 043 15 33595 23870 37725 31035 34395 32995 34035 29300 27535 29645
2,188 50 18885 218.50 177.30 20805 248 10 227.15 247.55 26105 194.80 221.45
196010 16460 19695 15860 18470 221 15 19560 21810 23440 16990 19790
2,980 6 2,897.9 2,980.6 3,224.1 3,377 0 3,505.4 3,636.0 3,778.3 3,853.2 3,956.3 4,082.4
968 55
89685
82495
728.50
5177
8815
8145
8555
70.85
5289
8025
73.75
9140
74.40
5177
9760
92.85
6725
58.60
5480
8695
7785
7230
6760
5627
105 40
9900
8505
79.10
5831
12904
4503
13332
486 1
206
2,752.5
173 106
2,662.7
41352
709.8
56310
9077
56,389
48,036
15,432
2,710
3 102
4837
48854
2,005 4
52,926
1,955
2,406
r
4729
42763
1 331.8
54,601
4808
4 100
5486
377 1
1,564
118 1
thous..
1,939
2475
4008
4486
5560
3615
1,466
1075
thous..
3759
51986
22058
1,376 9
6,013
4400
Radio sets, production, total market
Television sets (incl. combination models),
production, total market
See footnotes at end of tables.
3925
19968
1 136.3
5,271
330.1
Batteries (auto.-type replacement), ship
thous..
20,994
25 119
3642
1064
244
536
802
272
260
789
244
296
17,406
5,692
3,246
1,345
5,818
3,610
5
5
1,666
5,364
3,552
1,225
4254
2872
1,378
4068
3,951
5
5
1,642
10395
84.95
7790
70.55
609 1
8635
76.85
7505
69.25
620.5
8665
67 10
8950
81.15
6176
6420
5755
7290
66.90
6089
7855
73.70
6390
58.55
623.5
3643
3,208
5,027
3,140
35 P355 05
475.10 '476
39760 r354 65 "289 90
273.60 rr289 40 PP254 35
24355 266 80 232 60
4,283.9 r4,470.8 "4,571.5
r
'88 70
'8340
9065
'83.50
'6189
P
80 70
P
68 15
P
9420
P
85.00
P
5,137
3,967
5899
2689
5 186
2588
5
1,570
1,446
1,360
5
7050
54.25
7320
60.00
620.8
r
6054
6099
4043
56457
9272
3,332
2,114
1,151
3,359
3,220
1,232
3830
4534
5
5
1,698
1,185
1,261
5
5
4,195
1,469
S-31
SURVEY OF CURRENT BUSINESS
January 1980
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
Annual
1979
1978
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
METALS AND MANUFACTURES—Continued
ELECTRICAL EQUIPMENT— Continued
Household major appliances (electrical), factory
shipments (domestic and export) #
thous
Air conditioners (room)
do....
Dishwashers .
...
do
Disposers (food waste)
do....
Ranges
.. do
Refrigerators
do.. .
Freezers
do
Washers
do.
Dryers (incl gas)
do
Vacuum cleaners (qtrly.)
do.
30957
3,270
3356
2941
3011
5707
1598
4933
3553
9392
33216
4037
3557
3313
3217
5890
1522
5038
3621
9 136
2554
163
342
r
292
259
431
r
80
372
r
325
2225
240
276
231
221
346
67
325
256
2 143
2479
259
300
271
236
375
97
416
306
2506
333
260
256
224
382
116
397
291
3286
624
334
310
276
514
160
476
328
1 188
2851
'638
275
278
252
412
154
354
233
3369
693
308
297
277
581
187
455
298
2888
'389
268
263
264
562
199
436
273
3413
2757
164
260
285
262
584
235
390
275
2696
96
310
273
251
516
187
445
316
2691
77
293
274
244
539
180
435
311
3696
2823
94
356
314
275
518
152
421
325
2436
139
282
262
244
383
100
384
319
1,508
1746
3,158
1,636
1794
2^921
142
147
228
154
169
263
145
139
214
128
145
227
158
167
268
139
144
258
132
153
259
145
173
234
148
125
217
163
149
231
183
160
226
r
206
r
P
155
P
530
124
465
80
415
48
540
159
485
127
600
131
545
153
47868
48.725
75910
67560
5019
453 1
7315
4552
6017
4556
GAS EQUIPMENT (RESIDENTIAL)
Furnaces, gravity and forced-air, shipments.... thous..
Ranges total sales .
do
Water heaters (storage), automatic, sales
do....
2
!49
297
149
"236
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production $
thous. sh tons
Exports
do
Price, wholesale, chestnut, f.o.b. car at mine
$ per sh. tonBituminous: t
Production
thous. sh. tons
Industrial consumption and retail deliveries,
total #
thous. sh
Electric power utilities
Mfg. and mining industries total
Coke plants (oven and beehive)
Retail deliveries to other consumers
Retail dealers
.
530
100
425
179
455
79
360
35
460
50
475
41
47530
47675
47677
47677
47677
47677
47677
47677
47378
69245
59630
56486
53628
65492
62790
67925
69400
54495
72 100
63895
tons *620 476 '618 048
1475 671 *480 149
do
1
do
137*776 129 976
71093
do.... 177,387
52 186
39 659
11676
6496
56634
43579
12 129
6729
60048
47 016
11857
6426
53374
41 814
10879
5816
53835
41 712
11602
6685
50333
38 839
11028
6429
52847
41 427
11025
6556
54652
43906
10336
6 147
59002 r59 628
48 123 48453
10529 1r0 845
6 148
6398
53273
41 908
10904
6,198
850
925
1 175
680
520
465
394
409
do
Exports
...
Price, wholesale $
3
r
47 135
tons
do
do.
do
46579
*6445
866
653 800
do....
Stocks, industrial and retail dealers' end of
period total
thous. sh
Electric power utilities
Mfg. and mining industries total
Oven-coke plants
5861
625
691 344
7,020
152 264
130 898
21 146
12721
220
7,914
349
329
49831
460
141 608 142 643 141 608 131 891 125 091 130 013 137 668 147 000 150 630 144 095 148 053 153 562
126 036 127 118 126 036 117 469 112 029 116364 122811 131 446 134 152 128 802 131 904 136 658
15212 15 145 15212 14057 12744 13374 14582 15239 16 151 14921 1r5 737 16*472
8 162
8 162
7 437
8854
9448
8583
8 875
6 553
7352
8 317
8520
8 115
275
372
275
360
360
365
327
412
432
318
380
315
do
Index, 1967-100..
53687
3886
39825
4300
5930
4424
4394
444 0
thous. sh tons
do....
do
449
53060
26948
355
48238
26916
31
4383
2314
32
4645
2367
do....
do
do..
do
6444
6308
136
2050
3461
3323
139
2214
3277
3 178
100
2 185
do
1 241
889
48912
274.2
6089
4546
2 691
444 2
4592
4455
5 227
4474
6091
4512
5895
4524
6 249
4529
4448
2298
4015
2024
4653
2 195
4389
2292
4591
2394
4324
2265
4386
2426
4430
2366
r
4 367
4460
3461
3323
139
2214
3479
3322
157
2223
3440
3 270
170
2 246
3259
3094
165
2 223
3405
3219
186
2 263
3406
3 178
228
2 243
3 168
2935
233
2005
3223
2949
274
2033
3304
3972
332
1589
r
3715
r
3351
r
364
4 185
3794
391
103
78
30
90
88
105
93
206
162
171
177
169
181
4 7 775
300.1
1 294
310.5
1 861
312.4
1 372
316.4
1 463
322.3
1 544
324.2
1 138
326.2
1307
335.7
1 681
356.4
1 526
370.6
1523
385.7
1819
422.1
1623
436.7
1867
450.4
54683
90
55008
88
4706
91
4876
90
4674
86
4091
84
4491
83
4450
84
4570
84
4535
86
4779
87
4740
86
3526
4438
r
4579
COKE
Production: t
Beehive
Oven (byproduct)
Petroleum coke § .
Stocks, end of period: t
Oven-coke plants, total
At furnace plants
At merchant plants
Petroleum coke
Exports .
...
(»)
5
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
number
Price, wholesale
Index, 1967 = 100..
Gross input to crude oil distillation
units iji
. ...mil bbl
Refinery operating ratio
% of capacity..
All oils, supply, demand, and stocks:
New supply total ]f$
Production:
Crude petroleum $.
Natural-gas plant liquids
Imports:
Crude and unfinished oils $
Refined products $
68328
68222
5774
6053
5955
5245
5899
5416
566.3
5505
5580
5822
do
do....
3 0093
608.8
3 1782
5914
2622
496
2685
503
262 2
553
238 0
486
2661
54.4
2560
52.3
266 1
52.3
2523
50.5
2590
52.7
2697
52.1
do
do...
24256
789 1
23297
7229
205 9
597
2176
689
211 0
670
1966
72.6
183 9
495
1940
53.9
1995
48.3
1926
53.7
2103
50 1
458
5397
24 1
5745
75
65
5605
2289
50
mil. bbl
10 3
5869
54 9
6519
6059
239
5342
312
6324
-4 1
613.3
93
6816 1
34 3
7011 1
1804
575
77 i
562.6
5439
do
do
183
703
577
74 3
65
57
78
63
55
66
81
56
115
73
78
7i
53
86
70
66
do
do
do
67275
2633 5
640
68790
2 719 5
640
5747
2260
53
6183
231 9
71
6399
214 4
103
5923
204 3
96
5946
225 0
50
5193
213 1
48
548 7
224 5
43
5302
216 9
43
76
80
524 1
213 8
40
Distillate fuel oil
Residual fuel oil
Jet fuel
do
do
do
12233
1 1209
3793
12526
1 103 2
3857
1075
853
332
1288
96 3
324
1408
109 5
34 1
1342
100 7
31 8
112 4
100 4
337
902
74 4
288
927
776
313
812
76 6
322
79 1
71 4
343
859
768
337
Lubricants
Asphalt
Liquefied gases
do
do
do
583
1560
5189
626
171 4
5157
56
133
475
52
76
567
52
60
676
46
54
552
62
82
505
58
107
422
6.4
16 1
41.7
56
199
386
5.5
198
428
5.8
230
44.7
do
13119
3477
121.7
842.5
12776
3763
116.7
784.6
12916
3814
120.8
789.5
12776
3763
116.7
784.6
Change in stocks all oils (decrease
Demand, total $
Exports:
Crude petroleum
Refined products
Domestic product demand total # $
Gasoline
Kerosene
.
Stocks end of period total $
Unfinished oils, natural gasoline, etc
Refined products
See footnotes at end of tables.
) iji
do
do..
do....
do....
200 1
4
14 0
4
1 227 2 1 1501 1 1460 1 1699 1 179.2 1,210 4
4032
414 5
3759
3999
4036
381 1
4
118.4
119.6
119.6
117.8
116.0
115.5
4
646.7
676.3
733.5
630.6
653.0
657.5
1 256.1 1,280.2
4119
4030
125.1
124.8
743.1
728.4
470.8
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
Annual
January 1980
1978
Nov.
1979
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:
Gasoline (incl. aviation):
Production iji
mil bbl
Exports
do....
Stocks end of period
do
Prices (excl. aviation):
Wholesale, regular $
Index, 2/73—100..
Retail (regular grade, excl. taxes), 55 cities
(mid-month)
$ per gal..
Aviation gasoline:
Production
mil. bbl
Exports
do
Stocks end of period....
.... do.
Kerosene:
Production $
.... do
Stocks, end of period
do....
Price, wholesale (light distillate) $
Index, 1967=100..
Distillate fuel oilProduction $
mil. bbl..
Imports $
do
Exports
do....
Stocks end of period
do
Price, wholesale (middle distillate) $
Index, 1967=100..
Residual fuel oil:
Production if
mil bbl
Imports $
do....
Exports
do
Stocks, end of period
do.. .
Price, wholesale $
Index, 1967 = 100..
Jet fuel: $
Production
mil bbl
Stocks end of period. .
. .. do
Lubricants:
Production
do
Exports
. do
Stocks end of period
do
Asphalt:
Production
do
Stocks end of period
do
Liquefied gases (incl. ethane and ethylene): $
Production total
do
At gas processing plants (L P G )
do
At refineries (L.R G )
....
do
Stocks (at plants and refineries)
do
2,581 2
0.7
2607
26305
0.5
2408
2287
C)
2232
2439
(»)
2408
253.6
265.0
277.5
282.7
0.507
0.531
0.554
0564
14.2
01
3.0
13.9
(4)
2.8
12
11
27
28
62.6
18.1
56.3
14.3
4.7
15.5
57
14.3
403.0
104.2
79
2
2268
0.1
2589
1953
207.4
(»)
(!)
2544
241.9
2044
(»)
2379
211.9
0.1
2297
2114
(*)
2320
2191
2154
C)
244 1
2352
r
287.0
292.3
299.9
313.0
331.6
349.3
371.0
397.7
422.1
438.9
447.8
459.1
0.684
0.700
0.732
0.772
0.814
0.878
0.931
0968
0.990
0.998
1.011
1.051
08
06
0.9
1.0
1.1
1.4
1.4
1.5
31
29
2.7
2.6
2.5
2.5
2.4
2.4
70
11.5
74
9.8
5.3
10.4
5.5
11.2
5.4
12.2
4.8
13.0
5.1
14.4
4.8
14.2
407.5
412.7
419.1
433.0
465.5
504.1
533.4
632.9
674.4
695.9
705.9
93.2
70
92.8
5.5
0.1
112.7
88.1
45
0.1
1150
95.0
58
0.1
123 1
94.1
54
(*)
1414
102.5
68
0.3
1713
103.3
67
0.1
1954
5
2
r
358.5
392.7
398.4
1,196.3
913
0.5
2503
1,156.1
633
1.2
2165
101.0
67
0.1
2332
0)
(»)
2165
1757
80.2
55
0.2
127 1
384.1
398.0
407.6
418.0
425.7
432.6
451.9
477.9
504.8
542.3
593.1
'632.8
680.6
710.5
715.7
720.1
6401
496.1
23
90.0
522.5
6086
494.6
46
90.2
498.0
499
40.6
02
887
501.7
543
43.7
06
90.2
512.8
59 1
42.0
02
82.0
519.2
502
36.6
03
68.2
536.0
53.2
50.9
04
72.0
557.0
493
33.8
01
81.0
611.9
492
32.0
02
84.9
644.2
460
26.4
02
80.9
663.7
489
28.4
06
86.6
683.1
493
28.5
04
87.5
'755.7
784.4
798.7
818.9
832.1
3550
34.5
3539
33.7
303
328
307
337
295
320
279
304
340
32.6
312
36.2
303
37.5
287
35.7
299
34.2
322
34.2
645
9.6
12 1
695
9.7
122
61
07
123
57
09
122
58
05
125
54
05
130
59
0.9
122
59
0.6
119
64
0.7
116
58
0.8
113
61
0.7
116
62
0.6
117
154 1
187
1729
209
155
16 1
124
209
90
238
85
269
11.7
304
120
318
150
307
16.4
275
16.9
248
18.9
210
571.6
4430
128.6
1363
561 1
4315
1295
1320
468
36 1
107
144 2
480
368
113
1320
505
400
105
2
1135
428
337
91
99 1
48.3
380
10.3
962
46.9
362
106
988
48.4
363
120
1059
47.2
358
11.5
1137
48.4
372
11.2
1205
48.2
369
11.3
1250
279
88
191
352
8
344
247
71
176
378
18
360
275
63
211
323
21
302
265
64
201
358
6
352
588.4
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Palpwood:
Receipts
thous. cords (128 cu.ft.).
Consumption
do
Stocks, end of period
.... do...
Waste paper:
Consumption
thous sh tons
Stocks, end of period
.... do
WOODPULP
Production:
Total all grades #
thous sh tons
Dissolving and special alpha
do
Sulfate
do....
Sulfite.
....
.do
Groundwood
do
Semichemical
do. .
Stocks, end of period:
Total, all mills
do....
Pulp mills
.... do
Paper and board mills
do
Nonpaper mills
do....
Exports all grades total
do
Dissolving and special alpha
do....
All other
do
Imports all grades total
do
Dissolving and special alpha
do....
All other
.
do
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....
See footnotes at end of tables.
72,875
73971
5,761
77,025
77290
6,244
6429
6358
5976
6288
5980
6244
5,949
6404
5820
5,766
6287
5375
6,722
6987
5,116
6,335
6869
4,803
6,541
6741
4,603
6,913
6901
4,599
12 192
728
13 178
740
1071
709
1004
740
1078
673
1027
618
1 139
641
1083
639
1 123
668
1093
660
47 075
1415
35,739
1,758
4216
3,948
3954
105
3,007
131
370
341
3628
90
2,745
114
364
316
3905
98
3,000
104
352
351
3815
92
2,926
122
347
328
4307
128
3,250
162
396
370
4096
121
3,070
160
378
368
4368
139
3,240
164
384
441
4321
136
3,215
155
369
446
1,356
684
609
62
3
2640
796
3
1844
3
3864
179
3
3686
760
254
435
70
3
2599
757
3
1841
3
4025
176
3
3849
788
300
423
65
204
52
152
367
33
333
760
254
435
70
210
47
163
362
7
355
845
410
371
64
165
41
124
331
16
315
802
389
349
64
198
58
139
347
5
341
834
374
387
72
213
60
150
384
27
357
907
409
431
68
214
46
168
323
10
312
939
444
434
61
224
47
177
456
8
448
906
383
462
61
310
83
227
347
6
340
61,869
27,491
28,727
128
5,523
62,066
27729
28,723
109
5,505
5,198
2287
2,440
9
463
4,745
2 144
2 172
9
421
5,175
2316
2411
9
440
4,989
2267
2298
11
413
5,681
2541
2,643
13
484
5,409
2424
2,505
11
469
5,602
2511
2,590
12
489
5,448
2433
2,544
11
461
3
49 033
1401
34,005
2,000
4753
3,568
3
SURVEY OF CURRENT BUSINESS
January 1980
Unless otherwise stated in footnotes below, data
t h r o u g h 1976 and descriptive notes are a s shown
in t h e 1977 edition of BUSINESS STATISTICS
1977
1978
1978
Nov.
Annual
S-33
1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS—Cont.
Paper and board—Cont.
Producer price indexes:
1967 = 100.
Paperboard
Building paper and board
doSelected types of paper (API):
Groundwood paper, uncoated:
Orders, new....................................thous. sh. tons.
Orders, unfilled, end of period......................do...
Shipments..........................................................do...
Coated paper:
Orders, new
do...
Orders, unfilled, end of period
do...
Shipments
do...
Uncoated free sheet papers:
Orders, new
do...
Shipments
do...
Unbleached kraft packaging and industrial
converting papers:
Shipments
thous. sh. tons.
Tissue paper, production
do...
176.4
157.0
179.6
187.4
186.9
188.7
187.4
187.6
188.5
184.1
190.2
183.6
1,336
137
1,331
1,367
179
1,309
88
140
110
104
179
105
134
179
112
4,279
398
4,261
4,428
404
4,448
365
356
379
363
404
333
6,833
7,139
7,542
7,579
574
630
r
r
199.8
!81.2
r
201.7
r
r
206.4
r
115
183
127
126
181
124
130
195
121
136
195
131
391
440
370
375
432
377
337
410
352
463
360
627
668
696
719
674
718
!92.9
182.6
197.9
183.4
199.2
183.3
112
192
109
143
208
124
115
203
123
396
405
364
345
420
353
408
413
412
568
602
660
649
619
689
721
r
209.5
184.4
211.2
185.5
212.8
183.6
124
204
119
139
r
207
r
!33
101
185
124
445
405
'348
r
432
364
'378
r
408
r
406
389
426
376
635
646
697
732
628
663
r
678
r
606
669
319
'348
'395
325
367
!78.0
!79.1
r
r
741
3,884
305
340
344
358
320
349
341
4,215
292
328
321
4,286
403
379
349
397
339
387
321
374
401
837
262
794
790
266
793
822
237
788
804
221
791
790
222
807
820
209
762
733
238
839
858
220
822
817
224
342
339
22
647
340
338
24
335
337
21
360
358
23
572
595
371
371
24
659
366
364
26
601
340
339
24
617
721
674
614
634
533
644
590
3,815
337
r
375
Newsprint:
Canada:
Production
Shipments from mills
Stocks at mills, end of period
dodo...
do...
8,988
9,005
282
9,713
9,792
203
782
792
269
768
834
203
828
779
252
750
725
276
United States:
Production
Shipments from mills
Stocks at mills, end of period
do...
do...
do...
3,870
3,866
34
321
322
24
6,772
657
309
311
22
636
318
318
22
555
311
309
24
547
351
353
22
Consumption by publishers H
do...
Stocks at and in transit to publishers, end of
period
thous. sh. tons.
3,768
3,779
22
7,106
629
321
324
20
634
728
761
728
705
712
648
532
623
613
708
568
671
7,484
717
651
575
585
736
577
226.3
230.5
230.5
230.5
238.9
244.7
244.7
247.7
247.7
247.7
247.7
247.7
262.1
265.1
558
1,037
557
600
1,370
582
566
1,412
600
546
1,370
531
618
1,451
593
621
1,482
612
657
1,583
628
630
1,638
619
605
1,674
619
621
1,554
624
599
1,554
560
616
1,588
616
594
1,538
591
632
1,547
631
599
1,534
619
Paper products:
Shipping containers, corrugated and solid fiber
shipments
mil. sq. ft. surf. area- 227,197
Folding paper boxes, shipments.... thous. sh. tons- 2,639.0
mil. $.. 2,105.0
243,898
2,734.0
2,278.1
20,354
231.0
r
!93.3
18,599
238.3
r
202.3
20,844
218.0
187.2
19,409
208.1
180.5
22,863
254.1
218.6
20,574
205.7
180.1
21,769
233.0
204.2
20,986
228.7
201.1
19,615
213.5
188.6
22,163
242.3
217.9
20,327
218.3
199.1
23,617
227.6
20,330
229.9
197.6
57.73
13556
58.90
0.640
65 17
13500
46.08
0.685
43.62
0.670
796
6,559
Imports
do...
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
Index, 1967 = 100.
215.4
Paperboard (American Paper Institute): §
Orders, new (weekly avg.)
thous. sh. tonsOrders, unfilled
do...,
Production, total (weekly avg.)
do...,
r
r
r
251.8
r
215.4
184.4
662
560
1,393
598
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
thous. metric tons..
Stocks, end of period
do ...
Imports, incl. latex and guayule ....thous. Ig. tons-
780.13
12765
792.41
60.22
130 17
54.96
5895
13767
81.96
57.94
14595
56.22
63.17
14438
58.25
0.615
6177
13663
89.89
0.674
0.754
0.688
0.638
0.655
20081
20136
39997
23208
22439
39357
21668
20150
39892
21066
17955
40126
29.43
34.61
20275
20229
40222
33.93
21383
20670
38922
27.74
20292
17652
41128
34.51
20995
18794
40275
22.29
22332
21199
39153
28.74
30.44
31.76
28.65
19,592
16422
5,451
10530
442
21,807
21952
6,765
14771
416
51284
437
52223
648
18,609
19002
5 185
13499
319
53540
457
18,544
19629
5,987
13274
368
53033
510
15,603
19845
5,774
13745
326
49362
686
14,904
15402
3,263
11780
359
49397
384
16,911
18500
3,353
14646
501
48422
616
15,985
18754
4,684
13619
462
46002
501
17,775
20 149
5,059
14537
553
44357
666
581
218
350
160
186
210
277
310
438
259
362
764.65
12558
746.23
70.89
12395
46.05
62.81
12558
71.51
6825
12136
72.84
6662
11559
64.22
7453
116 13
72.80
0.416
Price, wholesale, smoked sheets (N.Y.).... $ per lb0.496
Synthetic rubber:
Production
thous. metric tons.. 2,417.53 2,473.41
Consumption
do
2 464 09 2 436 40
426.83
424.07
Stocks, end of period
do ...
239.98
254.96
Exports (Bu. of Census)
thous. Ig. tonsReclaimed rubber:
85.37
119.22
Production
thous. metric tons111.34
118.73
Consumption
do ...
1626
14 12
Stocks end of period
do
TIRES AND TUBES
Pneumatic casings, automotive:
Production
thous.. 1231,638 223,406
*226 583 236 640
iShipments total
do
66,884
Original equipment
do.... '65,998
Replacement equipment... . .. .
. do . . *155 195 165 193
*5390
4563
Exports
do
43472
Stocks end of period
. .
do ... X47 181
5328
6023
Exports (Bu of Census)
do
0.581
0.558
0.544
0.570
212 10
212 14
41991
21909
20984
42407
20794
22600
40709
23.81
23.77
23.62
10.15
958
1525
9.91
10.58
14 12
(22)
18,299
18872
5,911
12597
365
40394
483
18,869
16946
5,065
11486
396
43472
541
20,352
17227
5,644
11 148
436
C
47 212
560
274
343
312
Inner tubes, automotive:
Exoorts (Bu. of Census)
See footnotes at end of tables.
do....
2.298
3.015
()
(2)
0.679
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
1978
Nov.
Annual
January 1980
1979
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
45287
50346
43 106
49559
265.9
268.2
271.0
265.2
265.2
266.6
9937
145
484
12,733
5
145
Nov.
Dec.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement .. . . . thous bbl
*418 777
J
451 266
37851
28952
16628
18713
32420
35846
44622
48 181
90531
762
9419
769.2
60
72.5
656.4
49
50.4
5015
36
372
379.7
46
371
688.8
56
686
711.2
49
63.3
813.5
60
953
755.4
65
888
CLAY CONSTRUCTION PRODUCTS
Shipments: @
Brick, unglazed (common and face)
mil. standard brick .
Structural tile except facing
thous sh tons
Sewer pipe and fittings, vitrified
do..
Facing tile (hollow), glazed and unglazed
mil. brick equivalentFloor and wall tile and accessories, glazed and
unglazed
mi. sq. ft
8,300.5
450
1 1068
61.8
58.3
4.6
5.0
3.5
3.2
4.4
4.4
4.5
6.0
2662
2976
25.7
23.7
252
239
28.5
25.7
276
26.9
Price index, brick (common), f.o.b. plant or N.Y.
dock
1967= 100..
204.0
234.4
244.6
247.9
253.2
255.3
257.3
261.4
263.1
264.5
739 919
829 010
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
Glass containers:
Production
thous $
thous gross
Shipments domestic total
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)
thous gross
Narrow-neck and wide-mouth containers:
Medicinal and toilet
do
Chemical, household and industrial
do. ..
Stocks end of period
do....
210 156
213 343
205 421
303 452
326 634
25710
26090
24592
23008
27640
25 174
28611
25547
29264
30986
28841
315 639
21 443
22823
26 132
304 785
28088
27 143
27327
25630
28518
29407
25069
67466
92,757
24352
26637
60528
106,489
25084
1967
4473
8,512
2214
1651
4071
8,311
1900
1987
3703
8,744
1805
1995
3356
8,532
1359
2671
5*187
10,361
2803
1905
4574
9,766
1816
2505
4994
10,642
1996
2434
5 176
10,059
1808
2 183
5,063
10,168
1588
2982
5573
10,394
2047
61330
65062
5640
5681
5 141
6947
4754
5398
5272
4470
5862
30091
3,720
27998
3,841
44,250
2440
301
46,371
1667
227
2357
315
2306
319
2676
341
2217
336
2085
309
45,168
48,643
45,142
47,575
48,844
1866
292
49,631
2212
337
44,250
2089
270
48,503
49,044
1017
972
453
1 155
1 148
557
1239
1,140
1300
1,135
1250
1,075
505
621
858
1 101
1,143
550
1300
1,179
978
1 197
1,076
637
36,912
GYPSUM AND PRODUCTS
Production:
Crude gypsum (exc byproduct)
Calcined
Imports, crude gypsum
Sales of gypsum products:
Uncalcined
thous sh tons
do. ..
do....
Calcined:
Industrial plasters
Building plasters:
Regular basecoat
All other (incl. Keene's cement)
Board products total
Lath .
.
Veneer base
Gypsum sheathing
Regular gypsum board
Type X gypsum board
Predecorated wallboard
'13390
1
12 590
do.
14 891
^4041
1 129
1087
688
1 121
1092
506
441
393
286
300
467
558
539
531
491
481
X
7,074
'8,308
1 136
1091
658
*5802
'5881
462
358
*383
37
29
29
"24
34
31
33
30
33
33
28
136
312
15391
165
418
289
11 840
2425
232
140
306
1
16 445
137
458
234
12566
2786
231
9
25
31
23
1 440
8
36
15
1097
265
18
9
19
8
18
11
27
1375
10
36
14
1 036
260
19
1297
14
34
14
968
248
19
1 421
14
39
17
1 068
263
19
9
23
1377
10
38
21
1039
251
20
12
27
1450
12
39
23
1084
'271
22
10
24
1321
8
36
20
983
256
18
11
25
1438
9
39
18
1073
278
22
11
29
1515
10
41
19
1 122
297
25
8
23
1323
11
34
19
981
255
24
1033
"394
4
627
885
238
642
2 821
1257
1564
836
323
503
893
249
639
2 975
1307
1667
820
317
493
911
244
661
2805
1267
1 539
72
539
916
4798
482
r4
1
do
do
do.
mil sq ft
do
do
do
do
do
do....
1
1 317
8
35
17
1 001
237
18
TEXTILE PRODUCTS
FABRIC (GRAY)
Knit fabric production off knitting machines (own
use for sale, on commission) qtrly
mil Ib
Knitting machines active last working day thous
Woven fabric (gray goods), weaving mills:
Production total #
mil linear yd
Cotton
do
Manmade fiber
do
Stocks total end of period #
do
Cotton
do
Manmade fiber ..
.
do
Orders unfilled total end of period #
Cotton
Manmade fiber
do
do
do
3
1 688
6
3
343
16445
326
10237
4237
5*915
986
340
640
2004
858
1 146
10147
3962
6 070
835
244
585
r
3 029
1230
1 799
389.2
326
4
752
292
452
1015
4
392
4
613
876
297
574
2908
1 127
1 781
835
244
585
3 029
1230
1799
549
10 856
6079
6668
9317
595
435
11,229
11,226
r
2316
7,860
1.050
12,127
12 124
4893
6,230
1.001
11,229
11226
2316
7,860
1.050
4
1021
4
380
4
630
865
255
604
2938
1259
1 679
800
307
483
886
254
626
2899
1262
1 637
835
323
502
857
241
611
2898
1279
1619
4
COTTON
Cotton (excluding linters):
Production:
Ginnings 11
thous running bales
Crop estimate
thous net weight bales §
Consumption
thous running bales
Stocks in the United States, total, end of period #
thous. running balesDomestic cotton total
do
On farms and in transit
do
Public storage and compresses
do....
Consuming establishments
do....
See footnotes at end of tables
2
14
2
018
14 389
6393
12,890
12883
1665
10,268
950
2
10
2
4
4
603
468
506
10,066
10,062
1326
7,687
1.049
9,019
9,016
1066
6,881
1.069
7,940
7,936
806
6,033
1.097
4
584
484
489
6,756
6,751
600
5,058
1.093
5,732
5,727
492
4,171
1.064
4,631
4,625
383
3,275
967
4
503
472
3,790
3,785
250
2,608
927
16,803
16,799
13,756
2,195
848
630
16,080 r15,068 p"13,998
16,076 !5,064 13,995
13,451 r !0
635 P 6461
1,878 r3,783 "6,819
646
"715
747
SURVEY OF CURRENT BUSINESS
January 1980
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
1978
Nov.
Annual
S-35
1979
Jan.
Dec.
Feb.
Mar.
Apr.
May
July
June
Aug.
Oct.
Sept.
Nov.
Dec.
TEXTILE PRODUCTS—Continued
COTTON AND MANUFACTURES—Cont.
Cotton (excluding linters)—Continued
Exports
thous. running balesImports
thous. net- weight bales §..
Price (farm), American upland fl cents per lb..
Price, Strict Low Middling, Grade 41, staple 34
(1-1/16") average 10 markets
cents per lb
Spindle activity (cotton system spindles):
Active spindles, last working day, total
mil..
Consuming 100 percent cotton
do....
Spindle hours operated, all fibers, total
bil..
Average per working day
do
Consuming 100 percent cotton
do
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly.)
mil. lin. yd..
Orders, unfilled, end of period, compared with
avg. weekly production
no. weeks' prod..
Inventories, end of period, compared with
avg. weekly production
no. weeks' prod..
Ratio of stocks to unfilled orders (at cotton
mills) end of period
Exports, raw cotton equiv. thous.
net-weight §
bales
Imports, raw cotton equivalent
do....
MANMADE 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)
Staple, incl. tow (rayon)
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
Staple, incl. tow
Textile glass
fiber
1
4,448
25
52.1
355
464
61.1
o
58.1
o
517
(10)
56.0
577
1
54.2
574
1
52.5
602
2
53.4
542
(10)
55.5
58.8
o
410
(10)
60.9
463
2
59.2
56.8
o
390
(10)
61.3
61.0
59.6
508
656
644
615
606
587
580
609
634
619
621
62 2
62 9
634
662
16.6
6.7
103.6
0398
434
16.4
6.4
102.4
0394
41 5
16.4
6.3
10.0
0399
4
40
16.4
6.4
73
0367
29
164
6.3
10 1
0406
4
42
164
6.3
79
0394
32
164
6.4
4
83
0416
34
164
6.4
99
0398
4
40
164
6.4
82
0 411
33
164
6.4
80
0398
33
16.3
6.4
4
8.5
0338
4
34
16.2
6.4
79
0396
33
163
6.4
78
0392
33
6.5
6.4
42
32
4,356
3986
5
5
2
5,875
3
58.5
3
527
4
4
1020
614
1033
19.4
19 1
18.9
187
192
182
21.9
146
164
4.9
4.3
4.6
41
40
3.6
3.6
36
33
4.4
3.1
33
34
030
025
0 22
0 21
0 21
0 19
0 19
0 19
0 18
0 20
0 21
0 20
0 21
460 1
525.2
457 9
676.2
50 1
51.1
50 4
44.1
456
54.0
45 4
48.8
56 7
47.5
44 1
38.3
505
50.0
570
40.3
46 2
34.4
47 1
38.1
55 8
38.7
590
38.7
2820
527.0
3009
5346
762
1398
36586
36538
786.7
3 814 3
39528
9233
9974
10018
2353
mil. lb..
do....
16.7
49.8
15.4
28.7
15.4
287
12.4
27.5
11.3
374
11.4
318
do....
do. ..
do....
353.0
2997
67.9
3434
3356
r
986
3434
3356
986
366.3
3148
935
3637
301 1
1005
3660
308 1
1436
6,223.6
2,014.1
3715
356.9
3,583.2
286.2
2677 1
359.5
6,603.0
2,247.0
4064
384.4
3703 1
331.2
2593 1
376.2
1,754.1
634.6
102 1
107.6
9591
83.7
6714
93.7
1,721.2
607.0
1024
112.1
9482
85.5
6464
98.4
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other),
shipments quarterly
mil sq yds
16.1
11.7
5
5
4.7
5
5
040
782
1427
1 057 1
l'056 3
232 1
78 4
1427
788
1281
1 0595
1067 1
2788
993 6
1 064 2
2637
162
62 3
37.1
5
5
0.22
0.19
0.18
0.21
0.22
0.20
0.22
0.21
0.22
0.24
0.24
0.21
0.405
0492
0496
0495
0491
0470
0469
0475
0475
0470
0474
0469
0461
44.41
27 15
1793
17.26
41.08
8.68
600
32.40
2749
1353
42.88
2682
1772
16.06
37.54
806
493
29.49
2458
1202
42.86
27 30
1769
15.56
47.07
1002
688
37.05
3164
1564
43.91
27 70
1639
16.20
36.31
723
4 58
29.08
2471
1172
53.20
3337
1937
19.83
39.06
1092
672
28.13
2287
11 16
45.03
27 30
1676
17.72
38.47
996
651
28.51
2372
1190
49.28
30 64
1884
18.64
45.19
979
561
35.43
3045
1638
52.81
32 27
2123
20.54
53.03
968
629
43.35
3726
1999
44.92
28 71
1700
16.21
52.25
834
491
43.91
3844
2003
46.69
2890
1831
17.79
50.84
906
634
41.78
3654
1823
50.61
31 48
1955
19.13
44.58
679
469
37.79
3192
1650
56.16
34 73
2104
21.43
42.35
690
4 14
35.46
3077
1699
53.00
32 92
2128
20.07
40.18
633
384
33.85
2859
1425
10 1
14
45
19
82
11
34
13
89
08
42
2.2
100
09
39
18
85
08
43
2.0
78
07
31
23
75
0.7
41
2.4
76
08
33
1.9
69
08
26
1.6
20
09
35
20
202
2.37
202
2.49
206
2.65
220
2.73
220
2.78
2 18
2.82
2 18
2.83
2 18
2.83
220
2.93
230
3.09
233
2.90
0.42
0.501
7
1.708
9
367.08
20634
13135
160.74
531.13
110.11
6770
421.02
365.24
21868
441.70
267 28
16571
174.42
642.59
14755
8776
495.04
425 18
24240
955
12.5
530
18.8
1033
130
504
234
183
2.27
190
2.34
1016
1164
18083
183,702
36904
23,507
5.260
0469
0.765
8
"10246
0471
6
0.901
r9
0458
1657
4
81
12
48
1.5
75
08
40
20
202
2.37
202
2.37
r
l 162 3
4
300
335
2990
2779
4
323
r
311 5
APPAREL
Women's, misses', juniors' apparel cuttings: @
Coats
thous. units..
Dresses
do....
Suits (incl pant suits jumpsuits)
do
Blouses
thous. dozen..
Skirts
do....
r
1015
21.1
Manmade fiber manufactures:
Exports, manmade fiber equivalent
mil. IDS..
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:
Domestic—Graded territory, 64's, staple 2-3/4"
and up
cents per lb
Australian, 64's, Type 62, duty-paid
do....
Wool broadwoven goods, exc. felts:
Production (qtrly.)
mil. lin. yd..
4
17.0
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total #
mil. lin. yd..
Filament yard (100%) fabrics #
do....
Chiefly rayon and/or acetate fabrics
do....
Chiefly nylon fabrics
do....
Spun yard (100%) fab., exc. blanketing #.. 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:
Ratio, 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
$ per yd..
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..
See footnotes at end of tables.
428
18727
179,078
27856
27893
6.414
1434
14,883
2247
2,433
604
1081
9,763
1853
1950
433
1286
11,293
2244
2710
567
1 167
12,167
2518
2621
643
1429
13,715
2726
2,971
719
1612
11,656
2271
2601
756
1860
11,360
2305
2683
787
1954
11,089
2358
2588
787
3124
233
2.80
SURVEY OF CURRENT BUSINESS
S-36
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1977
1978
1979
1978
Nov.
Annual
January 1980
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
26.734
25.928
26.320
27.600
26.201
1,061.5 1,031.3
7574
7 100
599
723
399
464
630
557
775
601
174
10.8
8.7
2.1
Dec.
TEXTILE PRODUCTS—Continued
APPAREL— Continued
Men's apparel cuttings: @
Suits
thous units
Coats (separate) dress and sport
do....
Trousers (separate) dress
do
Slacks (jean cut) casual
thous doz
Shirts dress sport inc knit outerwear
do
Hosierv. shipments
thous. doz. pairs..
23050
16,029
112 750
13500
42807
267.683
17311
15,627
124 674
14627
43445
248.144
1516
1283
3421
24.062
1267
1,023
9 156
1050
2510
20.383
1 416
1,347
1267
1298
1600
1556
1379
1,366
1287
1,261
1288
1,373
357
2979
20.584
461
3223
22.075
641
3515
23.928
541
2948
23.407
617
3085
22.091
640
3219
26.153
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
38,922
22682
35,478
33315
20,704
49,937
26769
46,602
37471
21,961
16,817
8405
15,542
10344
5,874
16770
7509
15866
10708
5,657
45309
26119
19709
5354
56928
30094
27932
5863
56928
30094
27932
5863
62990
31946
6743
6881
6881
6764
5635
7798
7798
8910
4,700.9
47647
2,605
6,451.8
60170
3
3,589
752.0
5652
504
744.7
6331
550
691.0
5633
424
5767
5 104
484
1,107.9
8726
551
895.8
6435
560
939.2
7013
369
824.6
6235
384
9,201
8512
9,165
8494
842
784
660
604
8
737
8
883
806
761
706
922
842
820
751
587
541
do
do....
do
mil..
do
do....
11 185
9,109
2075
11311
9,312
2000
909
770
139
11.1
91
2.0
769
646
124
11.2
94
18
784
645
138
11.1
91
2.0
709
655
841
676
165
114
92
22
1 116
865
251
12.4
97
2.7
988
764
224
11.1
85
2.6
1053
798
256
11.1
84
2.6
905
701
204
9.4
72
2.3
886
689
197
10.5
8.3
2.2
449
417
916
706
211
11.0
89
2.1
Retail inventories, end of mo., domestics:
Not seasonally adjusted
Seasonally adjusted §
Inventory-retail sales ratio, domestics §
thous..
do....
1,731
1,784
1,729
1,780
1,728
1,735
1,729
1,740
1,885
1773
1,957
1,815
1,974
1,800
1,914
1,753
2,034
1,810
2,153
1,905
2,026
1,932
1,753
1,788
1,752
1,693
2.3
2.3
thous
do
do
do
3
695 12
3
540 90
3
23 881 8
. . do. ..
do....
2.3
4977
2762
2691
71 7
7
754
7
132
24
6449
4292
2162
62 1
6
763
6
150
2.2
73 17
5707
2232
715
7
913
7
202
2.5
7332
61.37
3113
600
4
956
4
229
8573
69.10
2562
63.7
5
987
5
237
3.2
7347
61.38
2594
51.9
Registrations ]f total new vehicles
..
Imports, incl. domestically sponsored
5873
43 19
2305
802
4
826
4
140
2.2
5203
38.36
2443
743
2.6
Exports (BuCensus) assembled cars
To Canada
Imports (BuCensus) complete units
From Canada total
2.8
4678
36.69
2399
45.0
6
913
6
220
2.4
3757
26.00
2416
32.6
6
877
6
193
2.3
6420
56.11
2160
51.3
6
852
6
193
Orders, new (net), qtrly total
U S Government
Prime contract
Sales (net) receipts or billings qtrly total
U.S. Government
mil. $..
do
do....
do
do....
Backlog of orders end of period #
do
U S Government
do
Aircraft (complete) and parts
do
Engines (aircraft) and parts
do
Missiles, space vehicle systems, engines, propulsion units and parts
mil $
Other related operations (conversions, modifications) products services
mil $
Aircraft (complete);
Shipments
do....
Airframe weight
thous Ib
Exports, commercial
mil. $..
MOTOR VEHICLES (NEW)
Passenger cars:
Factory sales (from U.S. plants), total
thous..
Domestic
do
Retail sales total not seasonally adj
Domestics §
Imports §
Total, seas, adjusted at annual rate
Domestics §
Imports §
Trucks and buses:
Factory sales (from U.S. plants), total
Domestic
thous..
do
Retail sales, seasonally adjusted:
Light-duty, up to 14,000 Ibs. GVW
do....
Medium-duty, 14,001-26,000 Ibs. GVW
do....
Heavy-duty, 26,001 Ibs. and over GVW
do....
Retail inventories, end of period, seasonally
adjusted
thous..
Exports (BuCensus) assembled units
do
Imports (BuCensus), including separate chassis
and bodies . .
thous
Registrations,!! new vehicles, excluding buses not
produced on truck chassis
.
thous
Truck trailers and chassis, complete (excludes
detachables), shipments ..
..
.. number..
Vans
do
Trailer bodies (detachable), sold separately
do....
Trailer chassis (detachable) sold separately
do
RAILROAD EQUIPMENT
Freight cars (new), for domestic use; all railroads
and private car lines (excludes rebuilt cars and
cars for export):
Shipments
number..
Equipment manufacturers
do....
New orders
do....
Equipment manufacturers
do
Unfilled orders, end of period
do....
Equipment manufacturers
do....
Freight cars (revenue), class 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..
See footnotes at end of tables.
2.3
69720
59151
27913
8492
1
10
826
4
1,977
8327
10946
1,946
4
949
4
158
684
6
878
6
212
r
787
702
r
899
r
729
170
9.4
73
2.1
r
2
r
634
2
775
606
168
9.6
72
2.4
733
561
171
105
80
25
1,775
l,704
1,794
1,712
2.8
7979
60.94
2357
52.5
5
887
5
208
2.8
r
p
460
1,691
l,591
24
5
725
5
167
2
3,442
3 179
3,706
3415
330
305
291
267
8
312
8
288
298
273
354
326
271
251
329
298
290
262
219
198
151
136
198
176
3,145.0
171.5
169.1
3,547.2
164.5
202.3
309.0
13.8
16.8
301.0
14.9
17.9
299.5
14.5
19.5
283.3
15.3
20.7
268.3
14.7
19.7
236.5
15.9
19.2
221.7
13.6
19.3
199.9
12.0
18.6
211.3
13.0
20.8
239.0
10.8
17.7
248.3
10.5
17.7
235.3
11.2
18.0
214.3
11.1
16.6
215.1
9.7
14.8
763.9
248 42
732.2
2173
773.9
2124
816.1
1753
847.0
25 13
921.7
2580
926.8
2190
1,022.3 1,071.7
2595
28 11
1,099.9
2220
1,032.4
1408
919.8
1759
877.2
19 18
850.8
803.4
1 035.68
9077
7585
9320
7009
7042
91.20
59.92
75.24
83.13
90.50
716.1
20255
82243
3
3
4
314
4
361
7
282
6
275
7
317
4
310
9098
5
313
70.86
6
277
6
289
6
6
286
293
251
222
5
313
5
185
248
3509
3963
159,297
98687
7,193
20662
194 976
128 566
6,468
29775
17733
12424
624
1993
17914
12505
622
1674
51,729
46,664
^6,750
'59 557
35,910
29,490
67,440
62,400
125,307
124 862
96,255
89,944
6,733
6,461
8,802
8302
91,773
86,059
8,107
6,962
5,874
7,704
8,884
8,051
8,039
7,316
8,296
6,048
6,827
7,030
6,618
7,971
7,758
7,753
5,608
7,547
7,281
6,884
7,787
5,667
6,619
6,524
8,719 11,873
6,993
8,658
6,129
6,639
7,799 13,701
12,727 15,236 14,506 14,801
7519 10881
7799 13288
7890
6 129
6293
6639
11827 14736 14506 14801
96,255 104,818 113,049 119,312 119,967 125,311 123,911 124,803 123,217 128,029 123,727 119,957
89,944 98,388 107,030 113,802 114,889 120,243 119,335 119,793 117,305 121,375 117,422 113,797
1267
8.9
9664
75.50
1225
7.9
9396
76.68
1228
8.1
9404
76.61
1225
7.9
9396
76.68
15808
10321
706
1633
1222
7.9
9380
76.76
16694
10907
800
1 141
1219
8.0
9358
76.76
20529
13833
1444
1428
1219
8.0
9369
76.88
18,308
12326
1,105
874
1222
7.9
94.04
76.97
20421
13 191
913
943
1221
7.8
94 12
77.10
16,876
10693
855
1030
1,224
7.8
94.40
77.13
16,426
10523
622
1201
1224
7.9
9447
77.19
19,816
13548
751
1584
1,222
7.7
r
94.60
r
77.41
16,896
11441
526
1267
1221
7.7
9446
'77.35
r
1,219
7.8
94.38
77.43
1 217
8.1
r2
158
S-37
SURVEY OF CURRENT BUSINESS
January 1980
FOOTNOTES FOR PAGES S-l THROUGH S-36
General Notes for all Pages:
r
p
e
c
Revised,
Preliminary,
Estimated.
Corrected.
Page S-l
Page S-7
1. Estimates (corrected for systematic biases) for Oct.-Dec. 1979 and Jan.-Mar. 1980
based on expected expenditures of business. Expected expenditures for the year 1979 appear
1. Annual average computed by BEA.
§ For actual producer prices of individual commodities see respective commodities in the
Industry section beginning p. S-22. All data subject to revision four months after original
publication.
# Includes data for items not shown separately.
$ Beginning Mar. 1979 SURVEY, data have been revised (back to 1967) to reflect new
seasonal factors.
on p. 20 of the Dec. 1979 SURVEY.
2. Includes communication.
If Data for the individual durable and nondurable goods industries appear in the Mar.,
June, Sept., and Dec. issues of the SURVEY.
Page S-2
t Revised series. Estimates of personal income have been revised back to 1975; revisions
prior to May 1978 are on p. 36 of the July 1979 SURVEY.
$ Includes inventory valuation and capital consumption adjustments.
# New series. These series are described on p. S-40. More detailed descriptions and
historical data back to 1959 begin on p. 18 of the Nov. 1979 SURVEY.
§ Monthly estimates equal the centered three-month average of personal saving as a
percentage of the centered three-month moving average of disposable personal income.
# Includes data for items not shown separately.
H Revised data back to 1976 will be shown in the 1979 BUSINESS STATISTICS.
Page S-3
1. Based on data not seasonally adjusted.
H See note "U" for p. S-2.
# Includes data not shown separately,
t See note " t " for p. S-4.
# New series. Data back to 1967 are available from the National Income and Wealth
Division, Bureau of Economic Analysis.
Page S-4
1. Advance estimate; total manufacturers' shipments for the previous month do not
reflect revisions for the selected components.
t Revised series. Data revised back to 1958 to reflect (1) benchmarking of shipments and
inventories to the 1974, 1975, and 1976 Annual Surveys of Manufacturers, (2) recalculation
of new orders estimates, and (3) updating of the seasonal factors. A detailed description of
this revision and historical data appear in reports "Manufacturers' Shipments, Inventories,
and Orders" M3-1.7 (1958-1977) and M3-1.8 (1967-1978), available from the Bureau of the
Census, Washington, D.C. 20233.
# New series. Data back to 1967 are available from the National Income and Wealth
Division, Bureau of Economic Analysis.
# Includes data for items not shown separately.
Page S-5
1. Advance estimate; total manufacturers' new and unfilled orders for the previous month
do not reflect revisions for the selected components.
2. The Sept., Oct., and Nov. 1979 issues of the SURVEY incorrectly show annual data for
1977 and 1978 and monthly data for 1978 that had been superseded by the August 1979
revision. The Aug. 1979 SURVEY shows the correct data.
f See note " t " f° r P- S-4.
# Includes data for items not shown separately.
j Includes textile mill products, leather and products, paper and allied products, and
printing and publishing industries; unfilled orders for other nondurable goods industries are
zero.
II For these industries (food and kindred products, tobacco, apparel and other textile products, petroleum and coal, chemicals and allied products, and rubber and plastics products)
sales are considered equal to new orders.
Page S-6
1. Based on unadjusted data.
2. Beginning Jan. 1978, includes TV and sound equipment and repairs formerly in "health
and recreation."
3. Beginning Jan. 1978, residential.
4. Beginning Jan. 1978, includes additional items not previously priced.
5. Includes bottled gas.
$ Compiled by Dun & Bradstreet, Inc.
# Includes data for items not shown separately.
§ Ratio of prices received to prices paid (parity index).
U Data through 1977 are for urban wage earners and clerical workers; beginning Jan.
1978, there are two indexes, all wage earners and clerical workers, revised (CPI-W), and all
urban consumers (CP1-U). These indexes reflect improved pricing methods, updated
expenditure patterns, etc.; complete details are available from the Bureau of Labor Statistics,
Washington, D.C. 20212.
# New series. Earlier data available from BLS.
t Beginning Jan. 1978, CPI-U.
Page S-8
1. Computed from cumulative valuation total.
2. Data are no longer available; 1978 annual represents Jan.-July.
3. Based on a sample of 14,000 permit-issuing places.
H Beginning Jan. 1979 SURVEY, monthly and annual data have been restated to reflect the
purchasing power of the dollar as measured by finished goods; comparable data for periods
prior to November 1977 will be shown in the 1979 BUSINESS STATISTICS.
$ Beginning Jan. 1978, based on CPI-U; see note "H" for p. S-6.
# Includes data for items not shown separately.
§ Data for Nov. 1978, March, May, Aug., and Nov. 1979 are forfiveweeks; other months
four weeks.
@ Data for new construction have been revised back to Jan. 1975 and are available from
the Bureau of the Census, Washington, D.C. 20233.
@@ Monthly revisions back to Jan. 1975 will be shown in the 1979 BUSINESS
STATISTICS.
$$ This index has been revised to a new comparison base (1972= 100); monthly data back
to Jan. 1970 are available upon request.
Page S-9
1. Index as of Jan. 1, 1980; building, 280.9; construction, 291.5.
2. Effective Dec. 1978, data are no longer available; annual total represents Jan.-Nov.
1978.
# Includes data for items not shown separately.
11 Home mortgage rates (conventional first mortgages) are under money and interest rates
on p. S-15.
§ Data include guaranteed direct loans sold.
$ Source: Media Records, Inc. 64-City Newspaper Advertising Trend Chart.
@ These indexes are restated on the 1972=100 base; monthly data back to 1972 are
available upon request.
Page S-10
1. Advance estimate.
2. Comparable data for periods prior to May 1977 are not available.
t Effective April 1979 SURVEY, data have been revised back to Jan. 1967; revisions for
earlier periods as well as a summary of the changes, are available from the Census Bureau,
Washington, D.C. 20233.
# Includes data for items not shown separately.
§ Includes sales of mail-order catalog desks within department stores of mail-order firms.
Page S-ll
1. As of July 1.
2. Comparable data for periods prior to May 1977 are not available.
# Includes data for items not shown separately.
$ Revisions for Jan. 1977-Oct. 1979 appear in "Current Population Reports," Series P-25,
No. 870. Revisions for July-Dec. 1976 appear in "Populations: Estimates of the Population
of the United States and Components of Change—1940-79," P-25 No. 802 (June 1979),
Bureau of the Census.
t Effective Oct. 1979 SURVEY, data have been revised based on March 1978 benchmark
levels and updated seasonal adjustment factors; effective Oct. 1978 SURVEY, data have been
revised to conform to the 1972 SIC and adjusted to March 1977 benchmark levels, therefore,
data are not strictly comparable with earlier periods. See "BLS Establishment Estimates
Revised to Reflect New Benchmark Levels and 1972 SIC," in Oct. 1979 and Oct. 1978
Employment and Earnings.
If Effective with the Jan. 1980 SURVEY, the labor force series reflect new seasonal factors.
Data have been revised back to 1975; comparable monthly data for 1975-79 will appear in
Employment and Earnings(Feb. 1980), U.S. Department of Labor, Bureau of Labor
Statistics.
Page S-12
t See corresponding note on p. S-ll.
§ Effective October 1978 SURVEY, includes data formerly shown separately under
ordnance and accessories.
@ Formerly shown as Electrical equipment and supplies.
11 Production and nonsupervisory workers.
January 1980
SURVEY OF CURRENT BUSINESS
S-38
Page S-13
t See note " t " on p. S-ll.
§ See note "§" on p. S-12.
@ See note "@" on p. S-12.
II Production and nonsupervisory workers.
Page S-14
t See corresponding note on p. S-ll.
U Production and nonsupervisory workers.
$ Earnings in 1967 dollars reflect changes in purchasing power since 1967 by dividing by
Consumer Price Index; effective Mar. 1979 SURVEY, data reflect new seasonal factors for the
CPI.
§ Wages as of Jan. 1, 1980: Common, $11.22; Skilled, $14.78.
# Includes data for items not shown separately.
@ 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.
@@ Insured unemployment as a percent of average covered employment in a 12-month
period.
Page S-20
1. See note 1 for p. S-18.
# Includes data not shown separately.
Page S-21
1. Domestic trunk operations only (averaging about 90 percent of domestic total).
2. Annual total; quarterly revisions are not available.
3. Before extraordinary and prior period items.
4. For month shown.
5. Beginning Jan. 1979, data are based on a new sample of freight shipments for 1976. The
new indexes have been linked to the old indexes to maintain comparability.
6. Data are for unlinked passenger trips.
# Includes data for items not shown separately.
§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled
service.
$ Beginning Jan. 1977, defined as those having operating revenues of $50 million or more.
if Average daily rent per room occupied, not scheduled rates.
@ Beginning Jan. 1979, data include visits to Badlands and Theo. Roosevelt National
Parks (formerly classified as recreational areas).
Page S-15
1. Average for Dec.
2. Average for the year.
'
3. Daily average.
# Includes data for items not shown separately.
§ For demand deposits, the term "adjusted" denotes demand deposits other than
domestic commercial bank and U.S. Government, less cash items in process of collection;
for loans, exclusive of loans to and Federal funds transactions with domestic commercial
banks and include valuation reserves (individual loan items are shown gross; i.e. before
deduction of valuation reserves).
H Adjusted to exclude domestic commercial interbank loans and Federal funds sold to
domestic commercial banks.
$ Data beginning Dec. 1978 reflect a reduction in the number of banks reporting (from
317 to 171) and changes in consolidation basis as well as content of several asset and liability
items. Unless otherwise stated, comparable data for earlier periods will be available later.
# New series. Beginning Dec. 1978, data are for all investment account securities;
comparable data for earlier periods are not available.
t Revised series. Data are now monthly averages and the coverage has been expanded.
Comparable data back to Dec. 1972 are available from the Federal Reserve Board,
Washington, D.C. 20551.
$J Rates on the commercial paper placed for firms whose bond rating is Aa or the
equivalent. Data through Oct. 1979 show a maturity for 120-179 days. Beginning Nov. 1979,
maturity is for 180 days.
@ Data through Oct. 1979 show a maturity for 150-179 days. Beginning Nov. 1979,
maturity is for 180 days.
Page S-16
1. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the
months.
t Beginning Jan. 1979 SURVEY, the consumer credit group has been completely
restructured; comparable data for periods prior to Nov. 1977 are available from the Federal
Reserve Board, Washington, D.C. 20551.
# Includes data for items not shown separately.
Page S-17
1. Reported annual total; revisions not distributed to the months.
§ Or increase in earmarked gold (—).
U At all commercial banks.
# Includes data for items not shown separately.
Page S-18
1. 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.
2. Effective Oct. 1979 S URVEY, data are no longer available.
§ Number of issues represents number currently used; the change in number does not
affect the continuity of the series.
U Prices are derived from average yields on the basis of an assumed 3-percent 20-year
bond.
$ For bonds due or callable in 10 years or more.
# Includes data for items not shown separately.
@ Effective Feb. 1979 SURVEY, seasonally adjusted data have been revised to reflect sums
of commodity components; comparable data for periods prior to 1977 will be shown in the
1979 BUSINESS STATISTICS.
@@ 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.
Page S-19
1. See note 1 for p. S-18.
# Includes data not shown separately.
§ Data may not equal the sum of geographic regions, or commodity groups and principal
commodities, because of revisions to the totals not reflected in the components.
@ See note "@" for p. S-18.
Page S-22
1. Annual total; monthly revisions are not available.
2. Data withheld to avoid disclosing operations of individual companies.
3. Beginning Jan. 1979, data include chemically-treated fertilizer and sodium nitrate
containing over 16.3% nitrogen by weight; not strictly comparable with data shown for
earlier periods.
4. Because of an overall revision to the export commodity classification system effective
Jan. 1, 1978, data may not be strictly comparable with those shown for earlier periods.
5. See note "H" for this page.
6. Effective Jan. 1979, data are no longer reported separately.
7. Represents solutions containing ammonia and ammonium nitrate/urea solutions; not
comparable with other published data.
8. Annual total for monthly data where available; not comparable with earlier periods.
9. Effective Sept. 1979 SURVEY, data beginning Jan. 1979 are for value of shipments and
comprise three new product categories. Comparable data for these new categories are not
available prior to Jan. 1979. However, the difference between total value of shipments and
total factory sales (formerly shown) is considered statistically insignificant.
# Includes data for items not shown separately.
§ Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
$ Monthly revisions, back to 1975 for some commodities, will be shown in the 1979
BUSINESS STATISTICS.
© Monthly revisions for Oct. 1976-Feb. 1978 will be shown in the 1979 BUSINESS
STATISTICS.
U Data for Jan. 1977-June 1979 exclude potassium magnesium sulfate; not strictly
comparable with those shown for other periods.
Page S-23
1. Includes Hawaii, not available on a monthly basis; monthly revisions for 1976 will be
shown in the 1979 BUSINESS STATISTICS.
2. Reported annual total, including Hawaii; monthly data are preliminary and subject to
change.
§ Data are not wholly comparable from year to year because of changes from one
classification to another.
@ Monthly revisions, for some series back to 1976, will be shown in the 1979 BUSINESS
STATISTICS.
Page S-24
1. See note 4 for p. S-22.
2. Crop estimate for the year.
3. Stocks as of June 1.
4. Stocks as of June 1 and represents previous year's crop; new crop not reported until
June (beginning of new crop year).
5. Previous year's crop; new crop not reported until Oct. (beginning of new crop year).
6. Nov. 1 estimate of 1979 crop.
7. Beginning Jan. 1978, data for condensed and evaporated milk are reported under the
single heading "total milk and cream, condensed and evaporated"; data for dry whole milk
and nonfat dry milk are under the heading "total dry milk, whole and nonfat." See also note
4 for p. S-22.
8. Ten-month average; Feb. and June prices not available.
9. See note "@@" for this page.
10. Less than 50 thousand bushels.
11. Crop estimate for 1979.
§ Excludes pearl barley.
# Bags of 100 Ibs.
U Revised crop estimates for 1970-75 will be shown in the 1979 BUSINESS
STATISTICS.
@ Monthly revisions, for some series back to 1976, will be shown in the 1979 BUSINESS
STATISTICS.
$ Monthly revisions back to 1975 will be shown in the 1979 BUSINESS STATISTICS.
@@ Data are quarterly except for June (covering Apr. and May) and Sept. (covering
June-Sept.).
Page S-25
1. See note 4 for p. S-22.
2. See note "#" for this page.
3. Effective Mar. 1979, prices are for Central U.S. and Los Angeles; comparability not
affected.
4. Beginning July 1977, prices represent Midwest and Los Angeles and are not
comparable with those shown for earlier periods representing East Coast and Los Angeles;
annual average is for July-Dec.
5. Average for five months (Aug.-Dec.).
6. Prices for Sept. 1977-Mar. 1979 are estimated; actual price not available. Annual data
for 1977(average for Sept.-Dec.) and 1978 reflect these estimates and are not comparable
with other periods.
§ Cases of 30 dozen.
H Bags of 132.276 Ibs.
$ Monthly revisions back to Jan. 1975 will be shown in the 1979 BUSINESS
STATISTICS.
© Monthly revisions back to 1976 will be shown in the 1979 BUSINESS STATISTICS.
# Effective Feb. 1979, prices are for Central U.S. (including East Coast); comparability is
not affected.
Page S-26
1. See note 4 for p. S-22.
2. Beginning Jan. 1978, data are not comparable with those shown for earlier periods;
refined sugar now reported with raw.
3. Reflects revisions not distributed to the months.
4. Crop estimate for the year.
5. Data no longer available; see note 2 for this page.
6. Beginning Aug. 1978, prices are estimated; not comparable with those shown for earlier
periods. Annual average for 1978 represents Aug.-Dec.
7. Effective July 1978, data no longer available; annual average represents Jan.-June.
8. Dec. 1 estimate of 1979 crop.
9. Beginning Sept. 1979, estimated prices are derived from a different source and are not
comparable with those shown for earlier periods.
§ Monthly data reflect cumulative revisions for prior periods.
@ Producers' and warehouse stocks.
H Factory and warehouse stocks.
Page S-27
1. See note 4 for p. S-22.
2. Annual total; monthly revisions are not available.
3. Average for Jan.-Sept., Nov., and Dec.
4. Average for Jan.-May and July-Dec.
5. Average for Jan.-Oct.
# Includes data for items not shown separately.
Page S-28
1.
2.
3.
4.
Annual data; monthly revisions not available.
Average for July-Dec.
Average for 11 months; price not available for Nov.
Average for 11 months; Feb. price not available.
Page S-29
1. Annual data; monthly revisions are not available.
2. For month shown.
§ Beginning with Jan. 1979 data, units are metric tons; to convert, multiply short tons by
Page S-30
1. Data beginning Jan. 1978 exclude stocks of lead base bullion in transit and at refineries.
2. Less than 50 tons.
3. Annual data; quarterly revisions not available.
4. For month shown.
5. Data are for five weeks; other months 4 weeks.
§ Beginning with Jan. 1979 data, units are metric tons; earlier data are shown in short
tons; to convert, multiply short tons by 0.907185.
11 Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.
@ All data (except annual production figures) reflect GSA remelted zinc and zinc
purchased for direct shipment.
# Includes data not shown separately.
Page S-31
1. Reflects revisions not available by months.
2. Beginning July 1977, data include shipments to mobile home and travel trailer
manufacturers (formerly excluded); they are not directly comparable with data for earlier
periods.
3. Average for eleven months; no price for May.
4. Beginning Jan. 1979, data reflect coverage of additional processing facilities; not
strictly comparable with data shown for earlier periods.
5. Data for oven (byproduct) coke have been restated back to Jan. 1979 to include beehive
coke which is no longer reported separately. Earlier published data for these two items
should be combined for comparability with data shown beginning Jan. 1979.
# Includes data for items not shown separately.
§ Includes nonmarketable catalyst coke.
11 Includes small amounts of "other hydrocarbons and hydrogen refinery input," not
shown separately.
$ Monthly revisions for the following series will be shown in the 1979 BUSINESS
STATISTICS: bituminous coal—back to 1975; coke—back to 1977; petroleum and products—back to 1976; anthracite coal production—1977; and wholesale price indexes
covering bituminous coal and petroleum and products—1977.
S-39
SURVEY OF CURRENT BUSINESS
January 1980
Page S-32
1. Less than 50 thousand barrels.
2. See note 4 for p. S-31.
3. Reported annual totals; revisions not allocated to the months.
4. Effective Jan. 1978, exports of aviation gasoline are no longer reported separately.
5. Beginning Jan. 1979, price includes taxes formerly excluded and is an average based on
48 cities; comparable prices for earlier periods are not available.
$ See note "$" for p. S-31.
# Includes data for items not shown separately.
Page S-33
1. Beginning Jan. 1977, data cover passenger car and truck and bus tires; motorcycle tires
and tires for mobile homes are excluded.
2. Effective Jan. 1979, data are no longer available.
H As reported by publishers accounting for about 75 percent of total newsprint
consumption.
§ Monthly data are averages of the 4-week periods ending on the Saturday nearest the end
of the month; annual data are as of Dec. 31.
Page S-34
1. Annual total; revisions not allocated to the months.
2. Crop for the year.
3. Beginning 1st quarter 1977, data exclude garment lengths, trimming, and collars; not
comparable with earlier data.
4. Data cover five weeks; other months, four weeks.
5. First-of-the-month estimate of the 1979 crop.
# Includes data for items not shown separately.
H Cumulative ginnings to the end of month indicated.
§ Bales of 480 Ibs.
@ Monthly revisions back to 1976 will be shown in the 1979 BUSINESS STATISTICS.
Page S-35
1. Effective Jan. 1, 1978, includes reexports, formerly excluded.
2. Season average.
3. Average for sales prior to April 1, 1978.
4. For five weeks; other months four weeks.
5. Monthly average.
6. Average for Jan.-Oct.
7. Average for Feb.-Jun.
8. Average for 11 months; no price for May.
9. Average of Jan.-June.
10. Less than 500 bales.
11. Effective 1st quarter 1977, data are not directly comparable with earlier periods.
§ Bales of 480 Ibs.
If Based on 480-lb. bales, preliminary price reflects sales as of the 15th; revised price
reflects total quantity purchased and dollars paid for the entire month (revised price includes
discounts and premiums).
# Includes data not shown separately.
@ Effective Apr. 1979, SURVEY, data include 600 additional firms; comparable data back
to Jan. 1977 (except for slacks, jean cut, casual, shown on p. S-36) will appear in the 1979
BUSINESS STATISTICS.
Page S-36
1. Annual total includes revisions not distributed to the months.
2. Estimates of production, not factory sales.
3. See note 4 for p. S-22.
4. Excludes one state.
5. Excludes two states.
6. Excludes three states.
7. Excludes four states.
8. Effective Jan. 1979, data are not directly comparable with earlier periods because of the
inclusion of Volkswagens produced in the U.S.
9. Effective 1st quarter 1978, data are not directly comparable with earlier periods
because of increased coverage.
@ See note "@" p. S-35.
# Total includes backlog for nonrelated products and services and basic research.
§ Domestics include U.S.-type cars produced in the United States and Canada and
foreign-type cars produced in the U.S.; imports cover all other foreign-type cars and captive
imports, and exclude domestics produced in Canada.
II Courtesy of R.L. Polk & Co.; republication prohibited.
$ Excludes railroad-owned private refrigerator cars and private line cars.
S-40
SURVEY OF CURRENT BUSINESS
New Series
Disposition of Personal Income
Beginning with the December 1979 issue, page S-2 shows series on the
disposition of personal income on a monthly basis. These series and the series
on personal income and its components, which have long been shown on a
monthly basis in the S-pages, constitute the two sides of the personal income
and outlay account of the national income and product accounts. The personal
account provides important information for the analysis of the economic
activities of persons—one of the major groups in the economy.
The monthly series on the disposition of personal income for the period since
January 1959 were first published by BEA in "Monthly Estimates of Personal
Income, Taxes, and Outlays," in the November 1979 Survey of Current
Business. In addition to the series shown on page S-2, BEA prepares, and will
make available on request, current estimates of the following series: currentand constant-dollar personal consumption expenditures for three categories of
durable goods, four categories of nondurable goods, and four categories of
services; the implicit price deflator for personal consumption expenditures on
durable goods, nondurable goods, and services; and per capita disposable
personal income in current and constant dollars.
Two aspects of the new estimates should be noted. First, price data from the
monthly Consumer Price Index that are needed to prepare the constant-dollar
estimates of personal consumption expenditures are not available when
current-dollar estimates for the latest month are prepared. Thus, estimates of
the implicit price deflator for personal consumption expenditures and of
constant-dollar disposable personal income and personal consumption
expenditures are not shown for the latest month. Second, the saving rate is
calculated as the ratio of an unweighted centered 3-month moving average of
personal saving to a similarly calculated average of disposable personal income.
Because the saving rate is based on centered 3-month moving averages, a saving
rate is not shown for the latest month and the saving rate shown for the midmonth of each quarter is equal to the saving rate for the quarter, as now published.
The definitions of the series on the disposition of personal income and a
description of the sources and methods used to prepare the estimates are in the
November 1979 Survey article.
January 1980
INDEX TO CURREN I'
SECTIONS
General:
1-6
Business indicators
Commodity prices
Construction and real estate.
Domestic trade
6-8
8,9
9-11
Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communication
11-15
15-18
18-20
21
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products
22
23
23-26
27
Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
27,28
28-31
31, 32
32,33
Rubber and rubber products...
Stone, clay, and glass products.
Textile products
Transportation equipment
33
34
34-36
36
INDIVIDUAL SERIES
Advertising
Aerospace vehicles
Agricultural loans
Air carrier operations
Air conditioners (room).
Aircraft and parts
Alcohol, denatured and ethyl
Alcoholic beverages
Aluminum
Apparel
Asphalt
Automobiles, etc
9,14
36
15
21
31
5,36
22
9,23
29
2-7,9-13,35,36
31,32
2-7,9,10,17,19,20, 36
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
15
24
30
25
7,9,19,20,23
4,5
17,18
29
34
2-5,9
9
8
6
3,4
23
Cattle and calves
25
Cement and concrete products
7,9,34
Cereal and bakery products
7
Chain-store sales, firms with 11 or more stores. . . 10,11
Cheese
;
23
Chemicals
3-5,7,12,13,17,19,20,22
Cigarettes and cigars
26
Clay products
3,4, 7,34
Coal
3,7,19, 31
Cocoa
20,25
Coffee
.. 20,25
Coke
31
Combustion, atmosphere, heating equipment
30
Communication
1,17,21
Confectionery, sales
25
Construction:
Contracts
8
Costs
9
Employment, unemployment, hours, earnings. . 11-14
Highways and streets
8
Housing starts
8
Materials output indexes
9
^ New construction put in place
8
Consumer credit
16
Consumer goods output, index
2
Consumer Price Index
6
Copper
29
Corn......
24
Cost of living (see Consumer Price Index)
6
Cotton, raw and manufactures
6,19,34, 35
Cottonseed oil
26
Credit, short- and intermediate-term
16
Crops
6,24,26,34
Crude oil
3,31
Currency in circulation
17
Dairy products
Debt, U.S. Government
Deflator, PCE
Department stores, sales, inventories
Deposits, bank
Dishwashers
Disposition of personal income
Disputes, industrial
Distilled spirits
Dividend payments
Drugstores, sales
3d
6,7,23,24
16
2
10,11
15,17
31
2
15
23
2,17
10,11
Earnings, weekly and hourly
13,14
Eating and drinking places
10,11
Eggs and poultry
6,7,25
Electric power
3, 7,23
Electrical machinery and equipment
3—5,
7,12,13,17,19,20, 30, 31
Employee-hours, aggregate, and indexes
13
Employment..
11,12
Explosives
22
Exports (see also individual commodities)
1,18,19
Failures, industrial and commercial
6
Farm prices
6, 7
Farm wages
14
Fats and oils
7,19,20,26
Federal Government
finance
16
Federal Reserve banks, condition of
15
Federal Reserve member banks
15
Fertilizers
7,22
Fire losses
9
Fish
25
Flooring, hardwood
28
Flour, wheat
25
Food products
2-7,9,12,13,17,19,20,23-26
Foreign trade (see also individual commod.)
18-20
Freight cars (equipment)
36
Fruits and vegetables
6,7
Fuel oil
6,31,32
Fuels
3,6,7,19, 20, 31, 32
Furnaces
31
Furniture
3,7,10,12,13
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gypsum and products
3,6,7,23
32
34
22
17
6,7,19,24,25
10,11
7, 34
Hardware stores
10
Heating equipment
7,30
Help-wanted advertising index
14
Hides and skins
7,27
Highways and streets
8
Hogs
25
Home electronic equipment
,
7
Home Loan banks, outstanding advances
9
Home mortgages
9
Hosiery
36
Hotels and motor-hotels
21
Hours, average weekly
12,13
Housefurnishings
2,4-6,9,10
Household appliances, radios, and television sets.
2,
7,10,30
Housing starts and permits
8
Imports (see also individual commodities)
1,19,20
Income, personal
2
Income and employment tax receipts
16
Industrial production indexes:
By industry
3
By market grouping
2, 3
Installment credit
11,16
Instruments and related products
3,4,12,13
Insurance, life
16
Interest and money rates
15
International transactions of the United States. . .
1
Inventories, manufacturers' and trade
3-5,9,10
Inventory-sales ratios
4
Iron and steel
3,7,9,17,19,20,28,29
Labor advertising index, stoppages, turnover
14,15
Labor force
11
Lamb and mutton
25
Lead
29,30
Leather and products
3,7,12,13,27
Life insurance
16
Livestock
6, 7,25
Loans, real estate, agricultural, bank (see also
Consumer credit)
9,15
Lubricants
31,32
Lumber and products
3,7,9,12,13,27,28
Machine tools
30
Machinery
3-5, 7,12,13,17,19,20,30
Mail order houses, sales
10
Manufacturers' sales (or shipments), inventories,
orders
4,5
Manufacturing employment, unemployment, production workers, hours, earnings
11-14
Manufacturing production indexes
2,3
Margarine
26
Meat animals and meats
7,19,20,25
Medical care
6
Metals
3-5,7,12,13,17,19,20,28-31
Milk
24
Mining and minerals
1-3,7,11-14,17
Monetary statistics
17
Money and interest rates
15
Money supply
17
Mortgage applications, loans, rates
9,15,16
Motor carriers
21
Motor vehicles
2-4,6,10,17,19,20,36
National parks, visits
21
Newsprint
20, 33
New York Stock Exchange, selected data
........
18
Nonferrous metals
.............
3, 5, 7, 17, 19, 20, 29, 30
Oats
........................................
24
Oils and fats
............................
7, 19, 20, 26
Orders, new and unfilled, manufacturers'
........
5
Outlays, U.S. Government
.....................
16
Paint and paint materials
Paper and products and pulp
......................
7, 22
..........
3-5,
7, 12, 13, 17, 20, 32, 33
Parity ratio
..................................
6
Passenger cars
............
2-4, 6, 7, 9, 10, 17, 19, 20, 36
Passports issued
..............................
21
Personal consumption expenditures
.............
2
Personal income
..............................
2
Personal outlays
..............................
2
Petroleum and products. . . . 3-7, 12, 13, 17, 19, 20, 31, 32
Pig iron ..... .
...............................
28
Plant and equipment expenditures
..............
1
Plastics and resin materials
....................
22
Population
..................
.
11
Pork
........................................
25
Poultry and eggs
............................
6, 7, 25
Price deflator, implicit (PCE)
..................
2
Prices (see also individual commodities)
.........
6-8
Printing and publishing
.....................
3, 12, 13
Private sector employment, hours, earnings ...... 11-14
Producer Price Indexes
........................
7, 8
Profits, corporate
.............................
17
Public utilities
......................
1-3, 8, 17, 18, 23
Pulp and pulpwood
...........................
32
Purchasing power of the dollar
.................
8
Radio and television
........................
2, 10, 30
Railroads
............................
1, 14, 18, 21, 36
Ranges
......................................
31
Rayon and acetate
............................
35
Real estate
................................
9, 15, 16
Receipts, U.S. Government
....................
16
Refrigerators
.................................
31
Registrations (new vehicles)
....................
36
Rent (housing)
...............................
6
Retail trade
.........................
3, 4, 6, 10-14, 16
Rice
........................................
24
Rubber and products (incl. plastics). 3-5, 7, 12, 13, 20, 33
Saving, personal
..............................
2
Savings and loan assoc., new mortgage loans
.....
9
Savings deposits
..............................
15
Securities issued
..............................
17
Security markets
.............................
17, 18
Services
...................................
6, 12-14
Sheep and lambs
.............................
25
Shoes and other footwear
.................
7, 10, 11, 27
Silver
.......................................
17
Soybean oil
............
......................
26
Spindle activity, cotton
.......................
35
Steel (raw) and steel manufactures
..........
20, 28, 29
Steel scrap
...................................
28
Stock market customer
financing
...............
17
Stock prices, yields, sales, etc
..................
,18
Stone, clay, glass products ......... 3, 4, 7, 12, 13, 17, 34
Sugar
.......................................
20, 26
Sulfur
.......................................
22
Sulfuric acid
.................................
22
Superphosphate
..............................
22
Tea imports
.................................
26
Telephone and telegraph carriers
...............
21
Television and radio
........................
2, 10, 30
Textiles and products . . . . 3-5, 7, 12, 13, 17, 19, 20, 34-36
Tin ...... . . .
...............................
30
Tires and inner tubes
.........................
7, 33
Tobacco and manufactures
.............
3-6, 12, 13, 26
Tractors
.....................................
30
Trade (retail and wholesale)
..............
3, 4, 6, 9-14
Transit lines, urban
...........................
21
Transportation
..................
1, 6, 12-14, 17, 18, 21
Transportation equipment. . . 2-5, 7, 12, 13, 17, 19, 20, 36
Travel
......................................
21
Truck trailers
................................
36
Trucks (industrial and other)
..................
30, 36
Unemployment and insurance
..................
11, 14
U.S. Government bonds
.......................
15-18
U.S. Government
finance
......................
16
U.S. International transactions
.................
1
Utilities
..........................
1,3,6,8,17,18,23
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Veterans' unemployment insurance
31
10,11
19,20,26
o, 7
14
Wages and salaries
Washers and dryers
Water heaters
Wheat and wheat
flour
Wholesale trade
Wood pulp,
Wool and wool manufactures
2,13,14
31
t 31
. • 24,25
3,4,6,9,12-14
32
35
Zinc.
30
) STATES
GOVERNMENT PRINTING OFFICE
PUBLIC DOCUMENTS
DEPARTMENT
WASHINGTON, D.C. 2O4O2
OFFICIAL
BUSINESS
In the fourth quarter
• Real GNP increased \lh percent
• GNP fixed-weighted price index increased 10 percent
• Real disposable personal income was unchanged
Real GNP
GNP Prices
-Fixed-Weighted
1975
1976
1977
78
197
1976
1977
Corporate Profits With IVA and CCAdj
Disposable Personal Income
• •
•••li.
1976
1977
1978
1978
1979
Percent change from preceding quarter
976
seasonally adjusted at annual rotes
197
UNITED STATES
GOVERNMENT PRINTING OFFICE
PUBLIC
DOCUMENTS
DEPARTMENT
WASHINGTON, D.C. 2O4O2
OFFICIAL BUSINESS
1980 RELEASE DATES FOR REA ESTIMATES
Subject
Release
Date*
Subject
Release
Date*
Personal Income and Outlays, June 1980
July 17
Gross National Product (preliminary), 2d quarter 1980. July 18
Composite Indexes of Leading, Coincident, and Lagging Indicators, June 1980
July 30
Personal Income and Outlays, September 1980
Oct. 16
Gross National Product (preliminary), 3d quarter 1980. Oct. 17
Composite Indexes of Leading, Coincident, and Lagging Indicators, September 1980
Oct. 30
Merchandise Trade (balance of payment basis), 2d
quarter 1980
State Personal Income, 1st quarter 1980
Personal Income and Outlays, July 1980
Gross National Product (1st revision), 2d quarter 1980..
Corporate Profits (preliminary), 2d quarter 1980
Federal Receipts and Expenditures, 2d quarter 1980. . .
Selected International Transactions, 2d quarter 1980..
Composite Indexes of Leading, Coincident, and Lagging Indicators, July 1980
Merchandise Trade (balance of payments basis), 3d
quarter 1980
State Personal Income, 2d quarter 1980
Personal Income and Outlays, October 1980
Gross National Product (1st revision), 3d quarter 1980..
Corporate Profits (preliminary), 3d quarter 1980
Selected International Transactions, 3d quarter 1980..
Federal Receipts and Expenditures, 3d quarter 1980...
Plant and Equipment Expenditures, 2d quarter 1980..
State Personal Income and Per Capita Personal Income
(revised), 1979
Personal Income and Outlays, August 1980
Summary of International Transactions, 2d quarter
1980
Gross National Product (2d revision), 2d quarter 1980..
Corporate Profits (revised), 2d quarter 1980
Manufacturers' Capacity Utilization, June 1980
Composite Indexes of Leading, Coincident, and Lagging Indicators, August 1980
Aug. 6
Aug. 10
Aug. 18
Aug. 19
Aug. 19
Aug. 20
Aug. 21
Aug. 29
Sept. 10
Sept. 14
Sept. 18
Sept. 18
Sept. 19
Sept. 19
Sept. 19
Sept. 30
"These are target dates; estimates may occasionally be released
a day or two earlier or later.
Nov. 6
Nov. 9
Nov. 18
Nov. 19
Nov. 19
Nov. 20
Nov. 20
Composite Indexes of Leading, Coincident, and Lagging Indicators, October 1980
Plant and Equipment Expenditures, 3d quarter 1980..
Personal Income and Outlays, November 1980
Summary of International Transactions, 3d quarter
1980
Gross National Product (2d revision), 3d quarter 1980..
Corporate Profits (revised), 3d quarter 1980
Manufacturers' Capacity Utilization, September 1980.
Composite Indexes of Leading, Coincident, and Lagging Indicators, November 1980
For information, call (202) 523-0777, Bureau of
Analysis, U.S. Department of Commerce.
Dec. 1
Dec. 9
Dec. 18
Dec. 18
Dec. 19
Dec. 19
Dec. 19
Dec.
31
@FedFRASER