Full text of Survey of Current Business : July 1948
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JULY 1948
SURVEY OF
NATIONAL INCOME N U M B E R
U. S. DEPARTMENT OF C O M M E R C E
B U R E A U OF F O R E I G N AND D O M E S T I C C O M M E R C E
DEPARTMENT OF COMMERCE
FIELD SERVICE
SURVEY
OF CURRENT
BUSINESS
THE BUSINESS SITUATION
..........
1
Changes in Food Supply in 1948
..........
5
CHANGING PATTERNS OF FUEL CONSUMPTION
.......
...............
7
NATIONAL INCOME AND PRODUCT STATISTICS
OF THE UNITED STATES, 1944-1947
......
12
Boston 9, Mass.
2 India St.
Minneapolis 1, Minn.
125 S. Third St.
Mohile, Ala.
109-13 St. Joseph St.
Butte, Mont.
14 W. Granite St.
PAGE
Milwaukee l,Wis.
517 E. Wisconsin Ave.
Buffalo 3, N. Y.
117 Ellicott St.
C-O/t tenfo
Miami 32, Fla.
36 NE. First St.
Baltimore 2, Md.
103 S. Gay St.
JULY 1948
Memphis 3, Tenn.
229 Federal Bldg.
Atlanta 1, Ga.
50 Whitehall St. SW.
No. 7
Albuquerque, N. Mex.
203 W. Gold Ave.
New Orleans 12, La.
333 St. Charles Ave.
Charleston 3, S. C.
18 Broad St.
New York 1, N. Y.
350 Fifth Ave.
Cheyenne, Wyo.
304 Federal Office Bldg.
Oklahoma City 2, Okla.
102 NW. Third St.
Chicago 4, 111.
332 S. Michigan Ave.
Cincinnati 2, Ohio
105 W. Fourth St.
Cleveland 14, Ohio
925 Euclid Ave.
Dallas 2. Tez.
1114 Commerce St.
NEW OR REVISED STATISTICAL SERIES . . . . 31
Denver 2, Colo.
828 Seventeenth St.
Revised Estimates of Retail Inventories, 1929-48 . . . 31, 32
MONTHLY BUSINESS STATISTICS . . . . S-l to S-40
Detroit 26, Mich.
230 W. Fort St.
Statistical Index
. Inside Back Cover
El Paso 7, Tex.
310 San Francisco St.
Hartford 1, Conn.
135 High St.
Houston 14, Tex.
602 Federal Office Bldg.
Omaha 2, Nehr.
1319 Farnam St.
Philadelphia 2, Pa.
42 S. Fifteenth St.
Phoenix 8, Ariz.
234 N. Central Ave.
Pittsburgh 19, Pa.
700 Grant St.
Portland 4, Oreg.
520 SW. Morrison St.
Providence 3, R. I.
24 Weybossett St.
Reno, Nev.
50 Sierra St.
Richmond 19, Va.
801 E. Broad St.
St. Louis 1, Mo.
1114 Market St.
Jacksonville 1, Fla.
311 W. Monroe St.
Published by the Department of Commerce, C H A R L E S S A W Y E R ,
Secretary.
Office of Business Economics, M. JOSEPH MEEHAN, Acting
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PUBLISHED WITH THE APPROVAL OF THE DIRECTOR OF THE BUDGET (42 J. C. P.)
JULY 1948
FEDERAL FISCAL SUMMARY
BILLIONS OF DOLLARS
75
A small decline in outgo
and increase
in income expanded the
cash surplus
in the fiscal
year 1948....
- 25
1940
1946
1947
1948
FISCAL YEARS ENDED JUNE 30
and permitted
further repayment of the
Federal debt.
By the Office of Business Economics
PUBLICLY-HELD FEDERAL DEBT'
250
150
100
50
0
Repayment
has largely
centered in
bank-held
Federal securities.
I 50
HE national product continued its rise during the
second quarter of 1948 chiefly as a result of the sustained
uptrend of commodity prices. Purchases by consumers and
business outlays for plant and equipment were maintained
at or above their previous high levels. Demand for the
national output was further strengthened by the projected
increases in Government procurement and in exports and
by the renewed rise of wage rates. The latter rise also
exerted price pressure through its effects on costs.
Aggregate production has shown little change since the
latter part of 1947, apart from seasonal influences and the
effects of labor-management disputes. Over a large segment
of industry, operating rates have held at maximum levels
consistent with available facilities and supplies of materials,
particularly of steel. In those areas where there is leeway
for further expansion, such as in cotton textiles, current
requirements of business and consumers have generally
served as the basis for steady operations in the recent period;
one of the few exceptions is shoes, where output has moved
downward. The field of residential building stands out as
an area where volume has continued to increase.
HELD BY BANKS
Labor Market Absorbs Summer Entrants
100
50
0
HELD BY NONBANK INVESTORS*
150
100
50
1940
1946
1947
1948
AMOUNT OUTSTANDING, JUNE 30
EXCLUDING HOLDINGS BY GOVERNMENT AGENCIES AND TRUST FUNDS.
SOURCES OF DATA: U.S. TREASURY DEPARTMENT, EXCEPT DATA FOR 1948 WHICH ARE
\RTLY ESTIMATED BY THE U.S. DEPARTMENT OF COMMERCE.
DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS.
794877—48
SITUATION
BILLIONS OF DOLLARS
300
200
U.S.
THE
2
The volume of employment exceeded 61 million in the
June census week, as large numbers of seasonal workers
entered the labor force to work on the farms and to take
other summer jobs. The May-to-June rise was better than
the usual seasonal advance, partly because of higher labor
requirements in construction and because of unseasonable
weather which retarded the expansion in farm employment in
the preceding months. The latest increase in nonagricultural
employment raised the year-to-year gain above 2 million
workers. On the other hand, the estimated number employed in agriculture has for several months been lower than
in the corresponding months of 1947.
Throughout the second quarter of 1948 there were somewhat fewer persons without jobs and actively seeking employment than the same months of the last 2 years. About
half the 2.2 million persons unemployed in June were out
of work for 3 weeks or less. Many of these persons, of
course, were just out of school.
Retail Trade Pick-up Slows Inventory Accumulation
The quickened pace of retail sales during the second quarter of the year was in part attributable to the reduction in
individual income taxes and the granting of wage increases.
The pattern of sales has continued to favor the durable goods
SUEVEY OF CURRENT BUSINESS
groups—although sales of automobile dealers declined from
April to May because of lower production—but food-store
sales also are running well ahead of last year. With increased income at their disposal, consumers have been able
to step up their durable goods purchases without any further
curtailment in other types of spending.
Inventory changes have tended to move inversely with
changes in consumer takings. While retail trade was sluggish in the first quarter, stocks accumulated in the hands of
distributors—the increase in the book value of inventories
held by wholesalers and retailers exceeded 500 million dollars
a month during this period, apart from the expected seasonal
changes. In the 2 months following March, the pick-up in
consumer buying moved goods out of distributors' hands
faster than the rate of merchandise receipts. This permitted
some improvement in stock-sales ratios from March to May
at the distributive level. The book value of manufacturers'
inventories continued to rise through May.
July 1948
accounts are designed to meet certain legislative and accounting requirements and thus include various noncash and intragovernmental transactions, while excluding other transactions, which involve cash payments or receipts.
A new source of difference between the two sets of accounts
was introduced with the passage of the Economic Cooperation Act which required that the sum of 3 billion dollars be
transferred to a trust fund and "considered as expended
during the fiscal year 1948, for the purpose of reporting
governmental expenditures." This transfer is included in
budget expenditures—and the budget surplus for the fiscal
year 1948 is correspondingly reduced—tut the expenditure of
the funds will not appear in the cash accounts until payments
are actually made. The "cash" and "budget" results are
contrasted in the following table (amounts are in billions
of dollars):
Fiscal years
Shift in Federal Fiscal Position
Among the other more dynamic factors during the second
quarter was the shift—actual and prospective—in the fiscal
position of the Federal Government. Business developments
reflected both the immediate impact of the cut in the incometax withholding rate and the further fiscal shift in prospect
as the flow of funds is stepped up for foreign aid and for the
expanded defense programs.
These fiscal developments mark the reversal of the trends
in receipts and expenditures shown in the chart on the opening page. In the fiscal year which ended June 30 the excess
of cash income approached 9 billion dollars, as compared with
less than 7 billion dollars in the preceding fiscal year. Cash
receipts responded to the higher income level in the private
economy and cash outgo moved slightly lower as a result of
further reductions in military outlays. These summary
results for the fiscal year were only slightly affected by the
new financial developments mentioned above as just getting
under way.
As shown in the lower three panels of the chart on page 1,
there has been a substantial reduction in the public debt
during the past 2 years. That the amount of debt retirement
this past fiscal year was smaller than in 1947, even though
the size of the cash surplus was larger, reflects the fact
that at the start of the latter fiscal period the Treasury cash
balance was still larger than needed for postwar requirements
and hence provided an additional source of funds for debt
retirement.
The debt-reduction program has centered in bank holdings,
which have been reduced by about 30 billion dollars since
February 1946 when the repayment program was initiated.
To this extent, therefore, the repayment program did not
add to private bank deposits or currency outside banks.
However, the expansion of bank loans during this period, and
the gold inflow, tended to counteract the anti-inflationary
effects of the Treasury's excess of cash income over outgo.
Corporations and insurance companies have also lowered
their holdings of Federal securities since 1946, the former
largely as a result of the need for cash to meet their capital
requirements, and the latter because of the greater availability of higher-yield private issues as business and consumers
increased their indebtedness.
"Cash" Versus "Budget" Accounts
As in previous years there are sizable differences between
the "cash" and "budget" results for the fiscal year 1948.
The former accounts reflect the actual money flow between
the Federal Government, which is treated on a consolidated
basis, and the rest of the economy. The official budget
1946
Cash
Receipts
Expenditures __ __ __ _
Surplus or deficit (— )
1948
1947
Budget
47.8
65.7
-17.9
43.0
63.7
—20.7
Cash
46.6
40.0
6.7
Budget
43.3
42.5
.8
Cash
47.7
38.7
8.9
Budget
44.7
39.3
5.4
Wage Increases Augment Income Flow
With respect to the amount of income available for consumer spending, the major change in the recent period has
been the tax cut. However, wage and salary payments
increased in May, after declining in the preceding 3 months,
and the total personal income recorded a further advance to
208 billion dollars on a seasonally adjusted annual rate basis.
For the most part, the small declines in wage payments
had reflected the variation in industrial activity because of
work stoppages incident to labor-management disputes and
the uneven flow of materials. The underlying trend of
basic wage rates was upward throughout this period. Average hourly earnings in manufacturing industries rose to $1.30
in May, immediately preceding wage settlements in important segments of the automobile, electrical-machinery, and
meat-packing industries. In May 1947 the figure was $1.21.
The rise in average weekly earnings in manufacturing
industries in May was relatively smaller than the change in
hourly earnings because of a shorter work week. Work
stoppages at some auto-manufacturing plants, seasonal
declines in non-durable-goods industries, and materials
shortages in metal-working industries accounted for the
decline in hours worked.
Weekly Commodity Price Index Tops Earlier Peak
Five months after the BLS weekly index of wholesale;
commodity prices turned downward, chiefly because of the
weakening of various farm product and food prices, the index
has regained and exceeded its earlier high point. By the end
of June the farm product price average had advanced to
within 1 percent of the mid-January figure, as the easing of
grain prices in anticipation of enlarged supplies in the comingcrop year was outweighed by advances ffor livestock and
livestock products. Higher meat prices were important in
raising the wholesale food price average above the January
level by the end of June and in moving the Consumers' Price
Index into new high ground.
At the end of June there were only two wholesale commodity price groups other than farm products which were
lower than in mid-January—hides and leather products,
about 6 percent lower, and chemicals and allied products,
SURVEY OF CURRENT BUSINESS
July 1 4
98
about 4 percent lower. As shown in chart 2, the combined
index for prices outside the farm and food products areas
recorded only a slight dip in February and has edged upward
since then. As compared with the closing week in June 1947,
the average price advance has been 11 percent for farm
products, 13 percent for foods, and 14 percent for all other
commodities. (It may be noted the chart makes use of a
ratio scale in order to place the relative changes in the indexes
in true perspective.)
Chart 2.—Wholesale Prices by Major Commodity Groups
INDEX, 1926 = 100
INDEX, 1926 = 100
250
(RATIO SCALE)
2501
200
-
FARM
PRODUCTS
200
For most of the separate areas of business shown in table
1, the revised estimates of outlays for new plant and equipment through the third quarter of 1948 indicate that expenditures in the third quarter are generally expected to continue
at the high level of previous months. There are, however,
Table 1.—Expenditures on New Plant and Equipment by
U. S. Business 1
[Millions of dollars]
Manufacturing
_ 1,450
Mining
150
Railroad
_
_
160
Other transportation
180
Electric and gas utilities ,. _ _ _ 3 330
Commercial and miscellaneous
900
Second estimate 4
First estimate 4
150
150
'ALL OTHER
100
100
90
90
1946
1947
1948
1946
1947
1948
Sources of data: U. S. Department of Labor, Bureau of Labor Statistics, through May
1948; data for June 1948 estimated by the y. S. Department of Commerce, Office of Business
Economics, from Bureau of Labor Statistics weekly wholesale price indexes through July 3,
1948.
Price increases announced during June for industrial products affected -copper and brass products, crude rubber and
rubber tires, passenger cars and trucks, and electrical products. In many cases, the timing of the price adjustments
coincided with wage settlements.
Plant and Equipment Survey
American business, exclusive of agriculture, plans to make
outlays of 4.6 billion dollars for new plant and equipment
during the third quarter of 1948, according to the regular
quarterly reports submitted to the Department of Commerce
and the Securities and Exchange Commission by business
concerns.1 These expenditures planned for the third quarter
are about on a par with the outlays which business now
anticipates for the second quarter, and are above the actual
first-quarter outlays largely as a result of seasonal factors.
The rates of aggregate business expenditures for new plant
and equipment anticipated in the second and third quarters
of 1948 are considerably above those in the correspondingperiod of 1947, though most of the increase from last year
reflects the upward movement in prices.
According to reports submitted earlier this year, the total
of expenditures for new plant and equipment in 1948 was
expected to reach 18.6 billion dollars, of which about one-half
was planned for the first 6 months. Partly because of severe
weather conditions, actual outlays of 4.2 billion dollars during
the first quarter were 300 million dollars below the figure
anticipated for that quarter. However, expenditures now
planned by business for the second and third quarters of
1948 do not appear to differ greatly from those originally
anticipated for this period in the opening months of the year.
i This survey was conducted in the second quarter of the year.
Jan.- Apr.Mar. June
July- Oct.- Total
Sept. Dec.
Jan.- Apr.- JulyMar. June 2 Sept.2
_
1,850
160
220
230
450
1,030
1,870
180
230
200
500
1,160
2,290
210
300
190
620
1,340
7,460
690
920
800
1,900
4,430
1,800
180
270
180
500
1,240
3,160
Total, actual
ALL COMMODITIES
1948
1947
Industrial group
3,940
4,140
4,950 16, 200
4,170
3,440
3,640
3,670
3,560
4,070
3,770
4,440 15, 680
4,020 15, 180
4,480
4,100
2,010
180
350
210
610
1,330
1,850
180
380
170
650
1,340
4,690
4,780
4,570
1 Excluding agriculture.
2 Estimates based on anticipated capital expenditures of business.
3
Includes trade, service, finance, and communications.
4
In reporting actual figures for each quarter, business concerns also give estimates of similar
outlays planned for the 2 quarters following. The second estimate is thus a revision of the
first estimate.
NOTE.—Figures are rounded and will not necessarily add to totals.
Source: U. S. Department of Commerce and Securities and Exchange Commission.
some notable differences in trend. Manufacturing companies
anticipate a slight drop in capital outlays from the second
to the third quarter of this year, which may be partly seasonal
in character, while railroads and electric and gas utilities
look forward to further acceleration in the rate of their
expansion. The other major group, consisting of commercial
and miscellaneous companies, showed little change in
expected expenditures.
First-Quarter Corporate Profits
Corporate profits in the first quarter of 1948 were slightly
below the record levels reached in the last quarter of 1947,
according to preliminary estimates of the Department of
Commerce. During recent quarters, seasonally adjusted
profits have followed closely the course of national income.
After a period of stability lasting through the first three
quarters of 1947, both series showed sharp gains in the fourth
quarter which were approximately maintained in the first
quarter of 1948.
Table 2 presents revised estimates of profits before and
after Federal and State income and excess profits taxes for
each of the four quarters of 1947, and an initial estimate for
the first quarter of 1948, classified by broad industry groups.
A first-quarter 1948 estimate for corporate sales is also included. Additional profits data, including seasonally adjusted aggregates are shown elsewhere in this issue of the
SURVEY.
No great significance should be attached to the small
decline in profits in the first quarter of 1948, inasmuch as the
interpretation of fourth-to-first quarter movements is especially difficult because of seasonal movements and complications introduced by year-end adjustments in reported profits
data.
Profits before taxes had by the last quarter of 1946
recovered from the low levels to which they had fallen in
some industries during the reconversion period, especially
in the metal industries. The level reached in this period
and maintained through the first three quarters of 1947 was
considerably higher than the highest wartime quarter, or at
a seasonally adjusted annual rate of 28.0 to 29.1 billion
dollars as compared with 25.4 billion dollars in the first
SURVEY OF CURRENT BUSINESS
4
July 1948
Table 2.—Corporate Profits Before and After Taxes, and Corporate Sales: 1947 by Quarters, and First Quarter of 1948 1
[Millions of dollars]
Corporate profits before taxes
1948
1947
Industry group
QuarFourth
First
terly
quarter average quarter
First
quarter
All industries, total 2 3.
Mining
Manufacturing
Metal industries 4 .
_
Other manufacturing
Wholesale and retail trade
2
Finance, insurance, and real estate
Transportation
Communications and public utilities
All other industries 5
Second
quarter
Third
quarter
7,207
7,214
7,262
8,101
7,446
188
4,397
1,617
2,780
1,151
494
215
439
323
215
4,334
1,609
2,725
1,183
505
290
339
348
223
4,399
1,543
2,856
1,151
518
312
294
365
250
5,070
1,841
3,229
1,258
530
278
358
357
Corporate sales
Corporate profits after taxes
219
4,550
1,652
2,898
1,186
512
274
357
348
1948
1947
1947
1948
QuarQuarFirst
First
terly
terly
average quarter average quarter
First
quarter
Second
quarter
Third
quarter
Fourth
quarter
7,831
4,356
4,378
4,412
4,929
4,519
4,794
79, 885
84, 144
253
4,862
1,784
3,078
1,232
542
186
429
327
134
2,655
952
1,703
679
291
120
267
210
152
2,627
948
1,679
698
296
171
207
227
155
2,669
905
1,764
679
306
187
179
237
176
3,086
1,081
2,005
743
314
161
216
233
154
2,759
971
1,788
700
302
160
217
227
178
2,979
1,056
1,923
727
320
111
261
218
1,471
44, 158
14, 824
29, 334
24, 580
1,582
47, 752
16, 208
31, 544
24, 707
3,824
2,270
3,582
3. 951
2,570
3,582
1
Annual corporate profits and sales estimates by major industrial groups for 1947, and
revised series for 1944,1945, and 1946 are published in this issue of the SURVEY on pp. —. For
similar data for the years 1929 through 1943, consult the National Income Supplement to the
SURVEY OF CURRENT BUSINESS for July 1947, pp. 30-32,41. Concepts and methodology have
been described in Trend of Corporate Profits, 1929-45, SURVEY, April 1946, pp. 11-12. The
principal change made since that statement was prepared has been to adjust for tax credits
flowing from the carry-back of unused excess-profits tax credit and net operating loss; that is,
these tax credits were added to profits after taxes in those years to which the tax credit was
carried back.
2 Sales figures exclude the industrial division of finance, insurance, and real estate. Presentation of sales data for these industries would be misleading in view of the large part of
their receipts which is in the form of property income.
It should be noted that the corporate sales estimates above are gross; that is, they include
interbusiness transactions and thus to a large extent represent a duplicated count. This
is so since the sales of each firm entering into the corporate total include not only the value
added by it, but also the value of the materials purchased from other firms, which is already
included in the sales of those other firms.
3
Total profits for all industries include the adjustment for the net flow from abroad of
dividends and branch profits.
4
Metal industries comprise iron and steel, nonferrous metals, machinery (except electrical),
electrical machinery, transportation equipment (except automobiles), and automobiles.
5 All other industries comprise agriculture, forestry and fisheries, contract construction,
services, and the international balance adjustment.
Source: U. S. Department of Commerce, Office of Business Economics.
quarter of 1944. During this period of stability variations
by industry from the over-all pattern were not appreciable.
In the more dynamic fourth quarter of 1947 and first
quarter of 1948, there were some significant gains and losses
by certain industrial groups. Within manufacturing, profits
in the food and kindred products group dropped off sharply
in the first quarter of 1948. The petroleum and coal
products and the iron and steel industries reported large
advances in both the fourth quarter of 1947 and the first of
1948. The automobile industry showed a substantial
increase in the fourth quarter of 1947 and a moderate one
in the first quarter of 1948.
Outside the manufacturing group, the railroad industry
experienced a large decline in profits in the first quarter
of 1948. First-quarter profits in trade, on a seasonally
adjusted basis, represent a moderate increase over the
fourth quarter of 1947. The motion-picture industry recorded a substantial profit decline in the first quarter of 1948.
Most of the other industries showed no clear-cut movement
from the third quarter of 1947 to the first quarter of 1948.
Chart 3.—New Nonfarm Dwelling Units Started: Total
and Number Under F. H. A. Commitments
THOUSANDS
125
100
TOTAL I/
75
50
25
Profit Rates
In evaluating current profits, it is important, first, to
realize that the estimates in table 2 represent profits before
inventory-valuation adjustment. Thus, the 1947 figure of
29.8 billion dollars includes over 5 billion dollars which
reflects higher unit costs of inventories. Second, current
profits should be examined in the light of the record value of
output now prevailing. After inventory-valuation adjustment, corporate profits before taxes in 1947 represented
about the same proportion of total income originating in
corporate business as they did in 1929—that is, about 22
percent. Both of these periods were below the wartime
peak of 26% percent, but far above the level during the
thirties.
Profits after taxes in 1947, measured either before or after
inventory-valuation adjustment, are below 1929 levels as a
percent of income originating in corporate business, due to the
currently higher income tax rates. Current profit-after-tax
rates, however, are sharply higher than during the war
period, when heavy excess profits tax rates were in force.
1945
1946
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS
1947
1948
ECONOMICS.
1
Represents privately financed conventional and prefabricated types of dwelling units.
Data beginning with 1946 are f9r permanent units only, while data for 1945 also include a
small number of temporary units started which were not reported separately. Estimates
are based upon permit data and sample field surveys and represent starts as of the time
foundation work is begun.
2
Represents units started under F. H. A. insurance commitments, recorded as of the time
footings are put in place. Because of differences in methods of derivation and in timing, the
F. H. A. series is not strictly comparable on a month-to-month basis with the estimates of
total starts.
Sources of data: Total, U. S. Department of Labor, Bureau of Labor Statistics; F. H. A.
commitments, Housing and Home Finance Agency, Federal Housing Administration.
Advance in New Construction Activity
The value of new construction put in place rose to 1.6
billion dollars in June, bringing the value for the first
half of the year to 7.7 billion dollars, as compared with
5.7 billion in the first half of 1947. Somewhat more than
half of the year-to-year increase has occurred in private
(Continued on page 30)
SUKVEY OF CURRENT BUSINESS
July 1948
Changes in Food Supply in 1948
IVlIDYEAR prospects for crop production indicate a
record outturn in 1948. In spite of this, total food production for this year is expected by the Department of
Agriculture to be lower than in recent years primarily because of reduced marketings of livestock and livestock
products.
Total United States food "disappearance" in 1948 is
estimated to be lower than in the past two years, but it
will still be about a third higher than the average for the
years 1935-39 (see chart 4). The portion of the total going
into noncivilian channels is expected to be lower in 1948
than a year earlier principally because of a reduction in
exports, both commercial and governmental relief shipments.
Domestic civilian food consumption per capita in 1948 is
estimated at 112 percent of the 1935-39 average, or 3 percent lower than in 1947 (see chart 4). The index of per
capita civilian food consumption reached a high point of
118 percent of the 1935-39 average in 1946.
Chart 4.—Total U. S. Food Disappearance 1
INDEX, 1 9 3 5 - 3 9 = 100
150
POINTS IN TOTAL INDEX
100
Egg consumption may be about the same as in 1947, as
shown in the lower portion of chart 5, despite a reduction in
the number of layers on farms. Somewhat fewer chickens
for eating will be available and turkey supplies will be the
smallest in 10 years. The number of turkeys being raised
is down 20 percent and cold-storage holdings are only about
half as large as last year.
50
41
42
43
44
The small changes in total milk consumption mask the
major shifts which have taken place between the consumption
of fluid milk and cream on the one hand and manufactured
dairy products on the other. In the war and postwar period
as a whole, the proportion of total milk production consumed
as fluid milk and cream has increased over the prewar average,
as the failure of production to keep pace with the growth
in consumer demand for all dairy products has curtailed
the utilization of milk in other forms, notably butter.
The reason for this lies in the structure of the market for
milk products. Milk can be readily diverted from one use to
another, and since a higher price is obtained for that used for
fluid purposes, the fluid market is satisfied first and the remaining milk goes into manufactured products. The shifts
in milk utilization from the prewar pattern have taken place
in two distinct phases. From the beginning of the war
through 1945, fluid milk and cream consumption expanded,
reaching a total of 433 pounds per capita in the latter year,
or 27 percent more than the average for 1935-39. In part,
this expansion reflected the influence of Government subsidies in restraining the rise in the price of milk to consumers
during this period. In each year since 1945 fluid milk and
cream consumption per capita has fallen concurrently with
the rise in retail milk prices. In 1948, fluid milk and cream
consumption per capita is estimated at 388 pounds, to be
about 14 percent higher than the prewar average but nearly
10 percent lower than in 1945. Retail milk prices in May of
1948 were 13 percent higher than in May of 1947, and 36
percent higher than in May of 1945.
Declines in Some Poultry Products
CIVILIAN
1940
Shifting Utilization of Milk
45
46
47
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS.
Adjustments in Livestock
1
Includes both domestically produced and imported foods.
2 Includes military civilian feeding.
3
Data for 1948 are forecasts as of May 1948.
Source of data: U.S. Department of Agriculture, Bureau of Agricultural Economics.
Less Meat and Dairy Products
The principal change in the food supply from a year ago is
the reduction in livestock and livestock products, which is an
adjustment made necessary by the short corn crop harvested
in 1947. Civilian meat consumption is estimated at about
145 pounds per capita, as compared with 155 pounds last year.
In the first 6 months of the year the principal reduction has
been in the supply of beef; pork production has been running
about the same as a year earlier. In the latter half of the
year, however, both pork and beef will show reductions from
the corresponding period in 1947.
Consumption of dairy products on a per capita basis will
average about 3 percent lower in 1948 than a year earlier
and 4 percent below the 1935-39 average, if the high rate
of milk production per cow continues during the remainder
of the year. The decline below the prewar figure is wholly
confined to butter consumption, as explained below.
Farmers are thus curtailing their livestock programs this
year as the feed pinch develops. In some cases, however,
they are getting more production per head of livestock, and
in other instances the full impact of lower output is not being
felt by consumers either because of withdrawals of food from
storage holdings or because of reduced exports. Just as
these adjustments have been delayed from several months
to a year or more after the cause (i. e., the short corn crop)
appeared, improvement in food supplies will be correspondingly delayed even if—as now appears likely—a bumper corn
crop is harvested this fall.
For example, the Department of Agriculture reports, on
the basis of a survey of breeding intentions, that the pig crop
to be farrowed this fall (and marketed next spring) is expected to be no larger than the small crop farrowed a year
earlier and nearly 10 percent smaller than the average fall
pig crop for the past 10 years.
A dearth of cattle flowing from corn-belt feed lots—particularly of long-fed steers—during spring and early summer, a season in which these classes normally comprise a
large portion of the beef supply, has resulted in advancing
SURVEY OF CURRENT BUSINESS
6
beef prices. In the first two weeks in June, the composite
retail price of steer beef in New York City was 26 percent
higher than in the same period a year earlier.
Chart 5.—Per Capita Civilian Consumption of Major
Foods1
ON THE AVERAGE, WE WILL CONSUME LESS
FOOD THIS YEAR THAN LAST, BUT SUBSTANTIALLY MORE THAN IN 1935-39.
INDEX, 1 9 3 5 - 3 9 = 100
50
100
Farm Income Sustained at High Level
LESS OF THESE FOODS THAN IN 1947.
50
100
150
CHICKEN,
(DRESSED WEIGHT)
CITRUS FRUITS,
FRESH
PORK (EXCLUDING
LARD)
BEEF
MILK AND CREAM,
FLUID
FRESH FRUITS,
(EXCLUDING CITRUS)
SUGAR, REFINED
BUTTER, FARM
AND FACTORY
(ACTUAL WEIGHT)
ABOUT THE SAME OR MORE OF THESE.
0
50
100
150
FRUIT, CANNED
VEGETABLES,
CANNED
EGGS
VEGETABLES,
FRESH
FLOUR,WHEAT
POTATOES
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS.
1
Data are for calendar years except fresh citrus fruits, which are for crop years beginning
in2 October of the previous year.
Data for 1948 are estimates based upon prospective supplies as of May 1948.
Source of data: U. S. Department of Agriculture, Bureau of Agricultural Economics.
Mixed Changes for Other Foods
Edible fats and oils will be about as abundant on a per
capita basis in 1948 as a year earlier. Consumers will have
less butter but more margarine, and about the same quantities of the other fats and oils. As compared with the
average for 1935-39, consumption of fats and oils in 1948
will show a decline of about 7 percent, despite substantial
advances for margarine and lard.
Consumption of fresh cirtus fruit from the crop which
started to move to market last October will be lower than
from the previous year's large crop, but citrus products
have continued in good supply. Consumption of canned
fruit and juices will be about 10 percent higher during the
current calendar year than in 1947.
Vegetable supplies, both fresh and canned, are estimated
to be about the same or slightly improved this year over
last year, when consumption was lower than in the preceding
two years.
150
'ALL FOOD, PER
CAPITA
0
July 1948
Cash farm income continues high, averaging about 5 percent higher than a year earlier during the first 6 months of
this year. On the whole, the basic forces sustaining farm
income have been stronger so far in 1948 than in the corresponding period in 1947.
An analysis of farm income for the years 1922 through 1947
shows that cash farm income is highly correlated with disposable income of consumers and the value of agricultural
exports. During this period, each change of 10 billion
dollars in disposable income was associated with an average
change of 1.4 billion dollars in cash income from farm
marketings and each 1-billion-dollar change in agricultural
exports was associated with 2an average change of 1.8 billion
dollars in cash farm income. In 1947, the calculated value
for cash farm income was 28.6 billion dollars, which was 1.6
billion less than actual income for the year.
As in the past, any substantial change in farm income will
be closely dependent upon changes in exports and personal
income. The export portion of the market for farm products
in the first few months of 1948 is less strong than in 1947,
although the value of farm exports is still high in relation
to previous periods.
The domestic demand for farm products has increased.
Disposable personal income, at 184 billion dollars in the
first quarter of 1948, was up 3 billion from the previous
quarter and 14 billion from the first quarter of 1947.
The current position of agricultural and food prices which
emerges from a consideration of production, exports, and
consumer demand is one in which the strong elements
continue to predominate. The reduction in export demand
for food from the extraordinarily high rate of a year ago is
more than offset by the increased civilian demand associated
with the advance in disposable income. On the supply side,
the volume of food for civilian consumption is somewhat
lower in areas such as meat and dairy products where prices
are sensitive to changes in volume.
Recent trends in consumption expenditures show little
evidence of a shift away from food purchases. Increased
sales of consumers' durables and building materials have
been accompanied by lagging sales in apparel and in such
semiluxuries as jewelry, entertainment, and eating and
drinking establishments rather than in food sales.
2 These relationships, which are averages for the 1922-47 period, show a greater sensitivity
of farm income to changes in disposable income and agricultural exports than similar relationships fitted for the period through 1940 or 1941. (See SURVEY December 1946, pp. 4-6, and
chart 5.) For the years 1922-40, the coefficients in the regression equation which correspond
to 1.4 and 1.8 in the test are 1.2 and 1.6, respectively. Inclusion of the years 1941-47 in fitting
the equations increases slightly the absolute divergencies between the actual and calculated
values for farm income during the years 1922-40, but results in closer estimates for subsequent
years, particularly the postwar years.
The complete regression equations are as follows (all figures in billions of dollars): 1922-47
period: y (cash income from farm marketings) = — 3.0+0.14xi (disposable personal income)-f1.70x2 (value of agricultural exports). Coefficient of determination CR2)—o. 99 (Note: This
equation was computed before the revised income estimates published in this issue became
available). 1922-40 period: y= -1.6+0.12^+1.SUxz. -R2=0.96.
By Murray F. Foss
Changing Patterns of Fuel
Consumption
"EMANDS made on the nation's fuel resources as
sources of energy in the postwar period have exceeded the
wartime use when curtailment of civilian demand was necessary to divert fuel to the armed forces. Under conditions of
rising demand and increasing costs, fuel prices have advanced
with the upward movement of the general price level. Relative shifts in prices, however, have differed so that the structure of fuel prices has undergone substantial change.
The basic shift in relative importance from coal to petroleum and natural gas as primary sources of energy—a, trend
which has been in progress for decades—has been accelerated
in recent years by the more rapid additions to oil- and gasconsuming equipment than to coal-burning equipment. The
expanded demand for fuel has made necessary large expenditures for new plant and equipment for extraction, processing,
transportation, and marketing purposes. Capital expenditures in the rapidly expanding petroleum industry have
accounted for the largest share of new investment in the fuel
industries and in 1947 made up as much as one-seventh of
aggregate plant and equipment outlays by nonfarm businesses. New facilities have not only made possible increases
in present and future fuel supplies but have also contributed
heavily to the high volume of investment in recent years.
This article analyzes the changing patterns of consumption
of the primary mineral fuels—coal, petroleum, and natural
gas—and reviews the more important developments in expanding the supply side.
while the Federal Reserve index of manufacturing production, expressed on a per capita basis, shows increases of 6 percent from 1929 to 1940 and 37 percent from 1920 to 1940.
Since the latter year, however, the first influence—namely,
industrial expansion—has far outweighed the effects of
technological advances in fuel utilization, and the number of
Chart 1.—Per Capita Consumption of Energy from
Mineral Fuels and Water Power l
MILLIONS OF BRITISH
THERMAL UNITS
250
200
150 -
Energy Consumption Tops War Peak
Combined consumption of energy in the form of primary
mineral fuels and the fuel equivalent of water power aggregated about 35,000 trillion B. t. u. (British thermal units)
in 1947, or 4 percent more than the wartime peak in 1944 and
60 percent above the average for 1935-39. Fuel requirements in 1948 have been running ahead of last year because
of the advance in industrial production and the increase in
fuel-using machinery and equipment—electric-power generators, motor vehicles, locomotives, and heating equipment.
Chart 1 shows energy consumption on a per capita basis for
each individual fuel and for all fuels in the aggregate. In
these terms, consumption in 1947 was fractionally lower than
in 1944 and some 42 percent greater than the 1935-39 average.
Two fundamental influences have been at work affecting
the long-term trend of fuel consumption. On the one hand,
increased mechanization and industrialization have required
more power; on the other, technological advances in fuel
consumption have tended to lower fuel requirements per
unit of output. During the interwar period, the second of
these forces was more important than the first. This is seen
in the fact that per capita fuel consumption in 1940 was
lower than in 1929 and only fractionally higher than in 1920,
NOTE.—Mr. Foss is a member of the Current Business Analysis Division, Office of Business
Economics.
100 —
50 —
1920
25
30
35
40
45
U.S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS.
1
Data represent domestic consumption of coal, petroleum, natural gas, and fuel equivalent
of water power expressed in terms of their heat values, or British thermal units. The following conversion factors published by the U.S. Bureau of Mines have been used: Bituminous
coal and lignite, 13,100 B. t. u.'s per pound; petroleum, 6,000,000 B. t. u.'s per barrel; natural
gas, 1,075 B. t. u.'s per cubic foot; and anthracite, 13,600 B. t. u.'s per pound. Water power
generated by hydroelectric plants has been converted to its fuel equivalent, which represents
a simple average of fuel consumption computed through the use of a constant fuel factor and
a factor varying each year according to the experience in central electric-utility stations.
Population data, used to compute per capita consumption, are for Continental United States,
including the armed forces abroad.
Sources of data: Fuel consumption, U. S. Department of the Interior, Bureau of Mines;
population, U. S. Department of Commerce, Bureau of the Census.
SUEVEY OF CUEEENT BUSINESS
8
B. t. u. per capita rose to about 245 million in 1944 and to
slightly less than this figure in 1947, as compared with about
190 million before the war. In some cases during the recent
period, the long-term decline in fuel input per unit of output
has been arrested or reversed, thus adding to total fuel
requirements.
In addition to the year-to-year movements in over-all fuel
consumption, which follow fairly closely the movement in
general economic activity, there have been significant shifts
in the relative importance of the different fuels in the total
fuel picture. These changes reflect not only the long-term
trends in the consumption of individual fuels but also the
differential impact on fuel consumption of changes in business
activity. The changes are evident from chart 1, but are
specific in table 1 which gives for each year the proportion of
consumption accounted for by each fuel.
to bituminous coal, has shown only small cyclical variations.
This is in part because of the strength of the underlying
growth factors and in part because a greater share of the
petroleum supply finds its way into uses, such as motor fuel
and heating purposes, which are less affected by the rate of
general industrial activity.
The reasons for the fairly close relationship between the
movement of bituminous-coal consumption and industrial
activity are apparent from an examination of domestic consumption by class of customer, which is shown in percentage
form in table 2 for selected years from 1937 to 1947. About
Table 2.—Percent Distribution of Domestic Bituminous Coal
Consumption, by Consumer Classes
Year
Table 1.—Percent Distribution of Total Domestic Energy
Consumption, by Sources
Year
Total
petroBiAn- tumi- Total Pe- Natu- leum
and
ral
thra- nous coal troleum gas natucite coal
ral
gas
Total
mineral
fuels
Water
power Grand
(fuel
total
equivalent)
July 1948
1937
1938
1939
1940
1941
1944 ..
1947
.
Colliery
fuel
0.7
7
.7
.6
5
.5
5
Elec- Bunktric
er,
power foreign
utilities trade
9.9
11 3
11.7
11 8
12 5
13 3
15 8
0 4
4
.4
3
4
3
3
Railroads
(class
I)
Coke
Other
industrial
20.4
21 9
20 9
19 7
19 7
22 3
20 0
17.2
13 8
16.8
18 8
18 8
17.8
19 2
Retail- Total
dealer
of
deliv- classes
eries shown
32.9
31 6
30.6
28 5
28 4
24 7
26 0
18.5
20 3
18.9
20 3
19 7
21 1
18 2
100. 0
100 0
100.0
100 0
100 0
100.0
100 0
Source: Basic data from U. S. Department of the Interior, Bureau of Mines.
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
.__
11.9
11.6
13.3
8.8
10.8
10.4
8.1
9.0
8.9
8.6
7.9
8.1
8.0
7.9
7.5
7.8
6.8
6.3
5.7
5.8
5.9
5.3
5.1
5. 1
4.8
4.8
4.2
4.5
3.7
67.5
66.3
61.4
63.7
62.2
60.0
61.0
60.0
57.6
56.0
55.3
52.5
49.3
46.2
46.9
47.1
46.5
48.3
47.1
42.6
43.3
45.2
45.4
47.3
47.8
45.7
43.4
40.4
40.5
79.4
77.9
74.7
72.5
73.0
70.4
69.1
69.0
66.5
64.6
63.1
60. 6
57.3
54.1
54.4
54.9
53.3
54.6
52.8
48.4
49.2
50.5
50.5
52.4
52.6
50.5
47.6
44.9
44.2
12.0
13.6
16.4
18.1
17.9
19.5
20.3
20.1
21.2
22.2
22.9
24.5
27.4
28.8
29.0
28.6
29.1
28.6
29.4
32.2
32.1
31.4
32.0
29.0
28.0
29.7
31.3
33.0
33.9
4.3
4.3
4.3
4.7
5.0
5.8
6.0
6.1
6.8
7.2
8.4
9.2
9.2
9.6
9.3
9.8
10.1
10.1
10.8
11.6
11.6
11.2
10.8
10.9
11.3
11.7
12.4
13.2
13.7
16.3
17.9
20.7
22.8
22.9
25.3
26.3
26.2
28.0
29.4
31.3
33.7
36.6
38.4
38.3
38.4
39.2
38.7
40.2
43.8
43.7
42.6
42.8
39.9
39.3
41.4
43.7
46.2
47.6
95.7
95.8
95.4
95.3
95.9
95.7
95.4
95.2
94.5
94.0
94.4
94.3
93.9
92.5
92.7
93.3
92.5
93.3
93.0
92.2
92.9
93.1
93.3
92.3
91.9
91.9
91.3
91.1
91.8
4.3
4.2
4.6
4.7
4.1
4.3
4.6
4.8
5.5
6.0
5.6
5.7
6.1
7.5
7.3
6.7
7.5
6.7
7.0
7.8
7.1
6.9
6.7
7.7
8.1
8.1
8.7
8.9
8.2
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Source: See chart I.
Coal a Declining Percentage of Total
The most striking change over the past three decades is
the marked decline in the relative importance of coal as a
source of energy and the increase in petroleum, gas, and water
power. The decline in anthracite, which has always found
its most important use in residential heating, has been almost
uninterrupted.
Bituminous coal has declined in relative standing, not
only because of the more rapid growth of petroleum, gas,
and water power, but also because of the increased economies
in its utilization. Per capita use declined by more than onethird from 1919 to 1939 and in 1947 was still about onesixth below the 1919 figure.
The variations in bituminous-coal consumption account
for most the year-to-year change in the total per capita
consumption of all fuels. Bituminous coal has been the
most important source of energy over the period under
consideration and has shown wide cyclical fluctuations
because of its extensive use as an industrial fuel.
The use of petroleum and natural gas has been expanding
at a rapid pace for many years. Per capita petroleum consumption in 1947 was almost four times the 1919 figure
and the increase in natural gas was even larger, relatively,
during this same period. Petroleum consumption, in contrast
one-fifth of soft-coal consumption is accounted for by retaildealer deliveries, which go largely to heating residential,
commercial, and small industrial buildings; the remainder is
accounted for by manufacturing and various service industries. Close to 20 percent of the total is used in coke production, coke being one of the principal ingredients in the manufacture of pig iron, and another fifth is used by railroads.
An increasing proportion—16 percent in 1947—has been
used by the electric-power utilities. Thus, the most stable
portion of consumption, that consumed for heating purposes,
is a relatively small part of the total. The primary reason
for the 30 percent rise in per capita consumption since 1939
is to be found in the high rate of activity in heavy industry,
railroad transportation, and electric utilities.
Diminished Use of Coal by Railroads
While not apparent from the table, the railroads are using
relatively less coal than formerly. In 1929, coal consumed
in yard-switching, freight, and passenger service of class I linehaul railroads was 88 percent of the total equivalent tonnage
of all fuels consumed in these services. By 1939, this proportion had dropped to 80 percent. It was down to 67
percent in 1947.
In absolute terms, total coal consumption in these services
by railroads dropped from approximately 110 million tons
in 1929 to about 100 million in 1947, while the coal equivalent
of all fuels consumed by class I line-haul railroads rose from
127 million to almost 150 million over the same period.
The shift has been considerably larger in passenger than in
freight service.
The reasons for the decline in coal consumption by railroads fall into two main categories: (a) Those affecting the
aggregate demand for railroad-transportation services and
(b) those concerned with competition among fuels consumed
by the railroads. The inroads made on railroad traffic by
competing modes of transportation such as passenger
vehicles, trucks, and air lines) were discussed in a recent
article of the SURVEY.1 In terms of fuel consumption, the
growth of competing carriers has meant a shift from;, transportation equipment utilizing coal to equipment utilizing
petroleum products.
Within the railroad field, the decline in the importance
1
See, Railroads in the Postwar Economy, SURVEY, May 1948, pp. 16-23.
SURVEY OF CUKEENT BUSINESS
July 1948
of coal during the twenties and thirties is to be found in
the more efficient utilization of coal and in the increased use
of fuel oil. In the more recent period, the reduction in
steam and the rise in Diesel locomotives have been the
dominant influences.
The trend to Diesels is to be found in improved performance, not the least of which is in fuel performance. The
decrease in efficiency in the use of coal, coupled with higher
prices for all fuels, has brought about substantial increases
in unit fuel costs since the war and a widening of the dollarand-cents differential between the cost per traffic-mile of
coal and fuel oil, on the one hand, and Diesel fuel, on the
other.
9
tion of machine for hand methods, while having a profound
effect on costs and labor requirements, results in a much
higher proportion of impurities per ton of coal sold. It
should be pointed out, however, that with the growth of
cleaning and preparation facilities, the quality of coal sold
will improve.
Chart 2.—Wholesale Prices of Mineral Fuels
INDEX, 1926 = 100
INDEX, 1926 = 100
200
200
150
150
Coal Also Lags in Industrial and Domestic Fields
BITUMINOUS COAL
In industry, bituminous coal competes with heavy fuel oil
and natural gas as a source of heat and power. Despite the
fact that manufacturing production in 1947 had risen apGAS, MANUFACTURED
AND NATURAL
proximately 80 percent above 1939, coal consumption
(excluding coking coal) rose less than 25 percent in these
100
100
industries. If a rough allowance is made for the coal consumed in the production of the additional electric energy
purchased by industrial users, the increase is less than 40
'ANTHRACITE
percent. By way of contrast, fuel-oil consumption increased
almost 90 percent in this period and natural-gas consumption
50
50
rose about 80 percent.
CRUDE PETROLEUM
To some extent, the greater rise in oil and gas is due to the
AND PRODUCTS
fact that industry in the gas and oil producing areas such as
the Southwest, has risen much more than in other areas of
the country. In large part, however, the small rise in bituI I I I I i I I! 1 1 1 ilnmli mil mi 11 0
minous coal means a loss of markets previously supplied by
1929 31 33 35 37 39 41 43 45
1947
1948
coal. Even in electric utilities, the rapid growth of which
if. 5. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS.
has meant a large increase in coal consumption, other fuels
have increased at a somewhat more rapid rate than coal since
Source of data: U. S. Department of Labor, Bureau of Labor Statistics.
just before the war.
In the residential and commercial fields a somewhat
The economies in the use of coal consumed in the producsimilar shift has occurred. Retail-dealer deliveries of bitution of electric energy have been most striking. A pound of
minous coal between 1939 and 1947 rose by less than 40 coal yielded 0.30 kilowatt-hours in 1920 and 0.77 in 1942.
percent, while anthracite consumption was practically unThese gains have been held but not extended in recent years,
changed. Consumption of fuel oil for heating purposes,
in part because of the use of less efficient capacity to take
however, rose about 70 percent, while sales by natural-gas
care of the heavy war and postwar electric-energy requireutilities to residential and commercial users increased more
ments.
than 100 percent.
Improvements in the utilization of coal in the manufacture
of pig iron and ferroalloys were less pronounced than in
the utility and railroad fields over the interwar period, but
Lower Coal Efficiency Since War
the decline since 1941 has been more pronounced than in the
Over the interwar period there had been a trend—itself a
case of the railroads. The lower quality of coal consumed
continuation of earlier developments—toward more efficient
has meant a lower grade of coke produced, which in turn has
utilization of coal. Through the introduction of modern
led to a lower yield in pig-iron and ferroalloy production.
equipment in the preparation and consumption of coal,
In 1947, the yield of metal per ton of coal was the lowest
output per unit of fuel input—output being measured in
since 1927.
terms of kilowatt-hours of electric energy, ton-miles of
Petroleum
freight, or pig-iron production—continued to increase until
early in the war, though the rate of increase slowed during
The key to the acceleration of civilian consumption of
the thirties. With the war and postwar period, however, this
petroleum products in the postwar period lies in the rapid
upward trend either leveled off or was reversed. These
expansion of petroleum-using equipment—passenger cars,
changes are illustrated in chart 2.
trucks, Diesel locomotives, oil burners, tractors, etc. The
This recent deviation from the trend is traceable in concurtailment of civilian production during the war years had
siderable part to changes in the quality of coal consumed.
the effect of augmenting the long-term growth in these
With the exhaustion of the better deposits of coal, producers
areas with a large backlog demand. Because some industries
have had to turn to sources of lower quality, especially in the
producing oil-consuming products were able to reconvert
case of coking coal. But a more important reason for the
more rapidly than others, there has been an uneven growth
decline in quality is to be found in the rapid advance in the
in demand for individual petroleum products. On the supply
mechanization of coal mining since the recent prewar period
side, the materials shortages which have characterized the
and the failure of cleaning facilities to keep pace with this rise.
past three years have held back petroleum production and
For example, where 10 percent of all bituminous-coal producdistribution. Petroleum imports have been stepped up
tion was mined by stripping in 1939, 22 percent was so mined
sharply while exports have been limited, with the result
last year. The trend to mechanization has also been
that in the first half of 1948 this country became a net
important in cutting and loading operations. The substituimporter of petroleum for the first time since 1922.
794877—48
2
SURVEY OF CURRENT BUSINESS
10
Petroleum Less Sensitive to Cyclical Changes
The position of petroleum is strengthened by the fact
that the demand for the crude products has been relatively
insensitive to changes in economic activity. To a large
extent, this is derived from the rising growth trend during
the twenties and thirties. In addition, the importance of
household (as distinct from business) demand for petroleum
in the demand total and the relative stability of the major
household uses, for heating and for motor fuel, over the
business cycle have contributed a measure of stability to
total petroleum demand. In 1939, motor fuel accounted for
45 percent of total petroleum consumption, and of the total
some 29 percent was consumed in passenger cars. Fuel-oil
consumption accounted for another 37 percent of the total,
over 10 percent of aggregate consumption being for heating
oils.
As shown in table 3, the largest increases in petroleum
consumption since 1939 have occurred in fuel oil, which
has advanced by more than three-fourths; within the fueloil category, the lighter oils or distillates, used largely for
heating purposes, have increased 120 percent. The heavier
oils or residual oil, used to a greater extent for industrial
purposes, have increased half as much relatively as the
light oils. The motor-fuel categon^ has risen the least of
any of the major groups, a reflection of the fact that in
terms of the income and long-term growth of the car population, the number of vehicles in use in 1947 was abnormally
low.
July 1948
burners to consumers. Shipments of residential burners in
the first quarter of 1948 were less than a third of their firstquarter 1947 rate and unfilled orders in the hands of producers at the end of the quarter were one-tenth their size
12 months previous.
The fact previously mentioned as to>the number of motor
vehicles in use is reponsible for the relatively small rise in
motor-fuel consumption noted in table 3. Motor-fuel consumption, which accounted for 45 percent of the total
domestic consumption in 1939, made up 40 percent of the
total in 1947.
Chart 3.—Growth in Petroleum-Using Equipment
MILLIONS
6
OIL BURNERS.
DOMESTIC
5 -(END OF YEAR)
ii
i
THOUSANDS
b
6
LOCOMOTIVES,
DIESEL - ELECTRIC
-(END OF YEAR)
4 ,
3 _
2
1 -
Postwar Gains in Petroleum-Using Equipment
o
iv
_
1
1
;c N V
_
J 1-4
m
j
_
-
|
isr )NJ \
-
1
Chart 3 illustrates the recent growth in the use of certain
types of petroleum-using equipment in order to help explain
the changes in the consumption of some of the more important petroleum products shown in table 3.
MILLIONS
50
MOTOR-VEHICLE
REGISTRATIONS
40 -(EXCL. PUBLICLY OWNED) -
Table 3.—Domestic Consumption of Petroleum, by Products, and
Percent Change, 1939-47 i
30 - T
T
BOTHER
7T
rra
\~ 5
1
II
f
f
I-.
4
^
11
j j
f
2
I''
2
&
O
MILLIONS
b
TRACTORS ON
FARMS
-(END OF YEAR)
- 4
-
- 3
PT]
7?.
JJ2
-
^
Millions of barrels
Product
1939
Motor fuel
Kerosene
Fuel oil _.
.
Distillate ___ ...
Residual
Lubricating oil
All other products _
. _._
Total
_
1947
Percent
change
556
61
459
135
324
24
133
795
103
817
298
518
37
239
1,989
+62
i Totals and percentages are computed from unrounded figures.
Source: Basic data from U. S. Department of the Interior, Bureau of Mines.
The competition between coal and oil is strikingly illustrated in the field of residential heating where conveniences
in the use of oil rather than hand-fired coal in central heating
systems have been of primary importance. The development of mechanical coal stokers has facilitated the use of
coal, but the growth in the equipment thus far has been much
less than that of oil burners. The number of residential oil
burners in use at the end of 1947, shown in the upper left
panel of chart 3, has risen by some two-thirds over the
number in use before the war. As in the prewar period, the
bulk of this increase has occurred in "conversion" burners—
burners used to convert central heating systems to oil. Output of residential burners was quick to expand with the war's
end and in 1947 shipments were four times the 1941 rate.
Despite the marked rise in the lighter fuel-oil production,
supplies were tight in many areas in 1947 and 1948. Thus
far in 1948 there has been a sharp falling off in sales of oil
10
+43
+69
+78
+121
+60
+54
+80
1,231
20 -
0
1
11
III
p M ;s
l
i
V( ,E R
-
193940 41 42 43 44 45 46 47
U.S. DEPARTMENT
OF COMMERCE, OFFICE
U [;
1III11i i
193940 41 42 43 44 45 46 47
OF BUSINESS ECONOMICS.
48-235
Sources of data: Oil burners, Heating Publishers Inc., N. Y., Fueloil and Oil Heat; locomotives, Interstate Commerce Commission; motor-vehicle registrations, Federal Works Agency*
Public Roads Administration; and tractors, U. S. Department of Agriculture, Bureau of
Agricultural Economics.
The changes in the number of both cars and trucks in use
from prewar to present is illustrated in the lower-left panel
of chart 3. The number of passenger cars in use during
1947 was only one-sixth greater than in 1939; for trucks the
increase was almost 50 percent. The magnitude of the
backlog demand for passenger cars has already been treated
at length in an earlier issue of the SURVEY.2
The upward trend in farm mechanization and in the use
of petroleum products on farms has been spurred by the high
farm income during the war and postwar period. The
number of tractors in use on farms increased by 90 percent
from 1939 to 1947 (see chart 3). Despite the fact that
tractor production was maintained at a high rate during
most of the war to assist in meeting wartime food goals,
and has since increased, the demand has continued in excess
of the supply.
It is estimated by the Department of Agriculture that in
2
See Backlog Demand for Consumers' Durable Goods, SURVEY, April 1948.
July 1 4
98
SURVEY OF CURRENT BUSINESS
1940 approximately 70 percent of tractor fuel used for farm
tractors was gasoline, but industry estimates place the
current figure considerably higher. The remainder of the
fuel is accounted for by kerosene and, to a lesser extent, by
Diesel oil, distillate, and tractor fuel.
The increase in the number of Diesel electric locomotives
in use over prewar has been the sharpest relatively of any
of the important types of petroleum-consuming equipment.
Production of Diesels was maintained during the war
because of the acute need for railroad motive power. Thus,
the number of Diesels in use on class I roads at the end of
1947 was 5,772 as compared with 525 in use at the close
of 1939. Whereas before the war, Diesels were used to
a large extent in yard-switching service, the war and postwar
trend has been to freight and passenger service.
Although the growth of Diesel fuel in recent years has
been spectacular, its importance in the total railway fuel-oil
picture should be viewed in perspective. Residual fuel oil
used by locomotives in 1947 was more than five times the
amount of total Diesel fuel used.
11
1946 to December 1947. However, the number in the
latter period was about 1 million higher than in December
1939. At the present time the number of manufactured- and
natural-gas residential customers is approximately equal,
whereas at the end of 1939 approximately 2 million more
customers were served manufactured gas. With the expansion of transmission facilities following the end of the war
and increasing coal costs, gas utilities have tended to shift
from the manufactured to the natural product.
The increase in the use of gas for heating purposes has
been especially pronounced. The Gas Appliance Manufacturers' Association estimates that domestic gas appliances in
use (for central heating systems) numbered 2.3 million at the
end of 1947, or almost double the figure at the end of 1940.
Chart 4.—Indexes of Fuel Efficiency
INDEX, 1939 = 100
125
Materials Shortages Limit Supplies
While the heavy demand for petroleum has brought forth
a large expansion in the production of both crude and
refined products, supply problems have been acute, particularly as they affect crude where shortages of materials,
especially steel, have continued to limit production. The
average number of wells drilled during the years 1942-45
was only 75 percent of the 1939-41 average; in 1947 well
drillings were estimated at 10 percent above the 1939-41
average and fractionally higher than the earlier peak of
about 33,000 drilled in 1937.
The expansion of refinery capacity has also been restricted
by lack of materials, but here shortages have been local in
character. As of end of March dates, crude oil refining
capacity rose from 4.9 million barrels daily in 1946 to 5.8
million in 1948, not including capacity of a small number of
refineries which were completely shut down. A large part
of this expansion came not from, new construction but from
a reorganization of existing facilities which has increased the
capacity for handling crude. In the first three months of
this year refineries were running at 94 percent of capacity;
this would indicate a very slight slack in refinery capacity
which can be taken up by increased availability of crude
supplies, although operations are at full capacity in most
areas. In addition, a severe strain has been placed on transportation facilities by the record requirements of crude and
refined products, and lack of transportation has been responsible for shortages in particular areas,
100
75
• POUNDS OF PiG IRON AND
FERRO-ALLOYS PER POUND
OF COAL.
50
•FREIGHT TON-MILES AND
PASSENGER TRAIN CAR-MILES
PER POUND OF COAL. 1> 2J
25
• KILOWATT-HOURS PRODUCED
IN ELECTRIC UTILITIES PER
POUND OF COAL. U
0 I
I
1920
I
I
I
M I
1925
I
I
I I
1930
I
M
I
I
1935
I
I
I
I I
1940
I
I
I
I
I
1945
I
I
I
1
1950
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS.
1
Pounds of coal in the railroad and electric utilities indexes represent all fuels consumed,
converted to their coal equivalent.
2
The weights used to combine freight ton-miles per equivalent pound of coal consumed in
freight service and passenger train car-miles per equivalent pound of coal consumed in passenger service were tons of coal consumed in each class of service for Class I railroads in 1929.
Sources: Basic data, U. S. Department of the Interior, Bureau of Mines; indexes, U. S.
Department of Commerce, Office of Business Economics.
Natural Gas in Favorable Price Position
The favorable price position of natural gas relative to
prices of coal and oil in the postwar years has abetted the
growth in consumption, especially in the industrial field.
It may be pointed out that the competition between gas and
fuel oil is more widespread than between gas and coal, since
both are produced in approximately the same areas. However, with the further extension of pipe lines to the industrial
Northeast, competition with coal is being intensified.
As an example of the impact of rising fuel prices, cost data
for electric utilities may be cited. For a group of electric
utilities using coal, fuel costs per thousand kilowatt-hours
rose 71 percent from 1939 to 1947. For a group of utilities
using natural gas, unit fuel costs decreased 9 percent.3
Natural Gas
The growth in natural-gas consumption since the prewar
period has been made possible by the large expansion in
plant and in interstate transmission facilities, particularly
pipe lines. Since the end of the war the Federal Power
Commission has authorized gas companies to spend over
three-quarters of a billion dollars for these purposes.
Somewhat over one-fifth of total natural-gas consumption
is used in the domestic and commercial fields for heating
and cooking purposes, and it is here that growth has been
New Pattern of Fuel Prices
most rapid. Preliminary estimates for 1947 put domestic
consumption at almost double the 1939 figure, while comNot only have fuel prices risen together with the general
mercial consumption has risen by close to 150 percent over
level of prices during the postwar period, but the pattern of
the same period.
fuel prices has undergone a marked transformation, espeAlmost 10 million residential customers were being served
cially in the past year and a half.
by natural-gas utilities at the end of last year, or more than
As shown in chart 4, the recent changes are striking in
1 million above the number in December 1946 and 2.7 3 Data are based on reports filed by a representative sample of electric utilities with the
Federal Power Commission.
million more than at the end of 1939. Users of manufactured
gas declined by more than a half million from December
(Continued on p. 30)
oData on ike I /aftonaf Oc<onom
National Income and Product Statistics
of the United States,
1944 - 47
Detailed statistics of the national
income, national product, and related
series for the year 1947 which have
been completed by the Office of Business Economics are presented in this
issue. These 1947 estimates are an
extension of the series covering the
period 1929 to 1946 which were published in the special NATIONAL INCOME SUPPLEMENT to the July 1947
SURVEY OF CURRENT BUSINESS.
i,
L N ADDITION to the statistics for 1947, this report
incorporates revisions of many of the series for the years
1944 to 1946. It was pointed out in the NATIONAL INCOME
SUPPLEMENT that such revisions would occur as more
complete and accurate source materials become available.
During the past year, for example, we have received such
later basic data as final Statistics of Income tabulations of
corporate income-tax returns for 1944 and 1945, final tabulations for 1946 of wages and employment covered by state
unemployment insurance laws, financial statistics of state
and local governments for 1946, and agricultural data more
fully adjusted to the 1945 Census oj Agriculture, as well as
revised information on construction activity inventories, and
retail sales.
The tables in the present report replace all previously
published annual, quarterly, and monthly series for the years
1944 to 1947. Quarterly and monthly estimates thus far
available for 1948 are shown on pages S-l and S-7 of this
issue of the SURVEY, and the statistics for the second quarter
of this year will be presented and analyzed as usual in the
This article has been prepared by the National Income Division,
Office of Business Economics.
12
forthcoming August issue. The first-quarter estimates of
corporation profits are shown herein on page S-l.
The present report is intended to be used in conjunction
with last year's NATIONAL INCOME SUPPLEMENT. Descriptions and definitions of the various series have not been
repeated. For economy of space the many footnotes accompanying last year's tables have also been omitted, but it
should be understood that these footnotes apply equally to
the current estimates. Use of the present tables without
reference to the NATIONAL INCOME SUPPLEMENT may, therefore, lead to misunderstanding or misuse of the data. For
new subscribers or others who have not yet secured this basic
reference source, copies may be obtained as indicated on the
following page.
The income and expenditure accounts for the various sectors of the economy, shown in the NATIONAL INCOME SUPPLEMENT for the year 1939, are here presented for 1947 in
tables I to VI. All the data necessary to construct these
accounts for the years 1944 to 1946 are presented in the tables
which follow.
The numbering and stubs of the various tables correspond
to those used in the SUPPLEMENT. This should ease the inconvenience of referring to two sources to obtain continuous
series covering the period since 1929. For added convenience, the summary tables for national income, gross national
product, and personal income (tables 1 to 3) are reproduced
for the entire period.
A limitation of the 1947 estimates of pay rolls and employment in manufacturing should be noted. Adoption of
the new Standard Industrial Classification for manufacturing industries by the Social Security Administration, effective with its 1947 tabulations, has destroyed comparability
with past statistics for a number of the industry groups.
The estimates presented here have been adjusted to conform
with the National Income Division classification, and therefore with the data for earlier years, by the use of collateral
information; but for several of the manufacturing industries
the 1947 estimates are subject to an unusual margin of possible error.
A discussion of economic developments in 1947 cast in the
framework of the national income and product accounts was
published in the February 1948 Annual Review Number of
the SURVEY, and similar discussions of developments each
quarter-year are regularly presented throughout each year.
13
SURVEY OF CURRENT BUSINESS
July 1948
LIST OF TABLES
National Income and Product Accounts
PAGE
I. National Income and Product Account, 1947
14
II. Consolidated Business Income and Product Account, 1947 __ 14
III. Consolidated Government Receipts and Expenditures
Account, 1947
14
IV. Rest-of-the-World Account, 1947
V. Personal Income and Expenditures Account, 1947
VI. Gross Saving and Investment Account, 1947
PAGE
15
15
15
Statistical Tables
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
National Income by Distributive Shares, 1929-47
Gross National Product or Expenditure, 1929-47
Personal Income and Disposition of Income, 1929-47
Relation of Gross National Product, National Income, and
Personal Income, 1944-47
Sources and Uses of Gross Saving, 1944-47
Liquid Saving Estimates of the Securities and Exchange Commission and their Reconciliation with Personal Saving Estimates of the Department of Commerce, 1944-47
Consolidated Business Income and Product, 1944-47
Government Receipts, 1944-47
Government Expenditures, 1944-47
Social Insurance Funds, 1944-47
Transactions of the Rest of the World with the United States,
1944-47
National Income by Legal Form of Organization, 1944-47
National Income by Industrial Origin, 1944-47
Wages and Salaries, by Industry, 1944-47
Supplements to Wages and Salaries, by Industry, 1944-47
Income of Unincorporated Enterprises, by Industry, 1944-47. _
Corporate Income before Federal and State Income and Excess
Profits Taxes, by Industry, 1944-47
Federal and State Corporate Income and Excess Profits Tax
Liability, by Industry, 1944-47
Corporate Income after Federal and State Income and Excess
Profits Taxes, by Industry, 1944-47
Net Corporate Dividend Payments, by Industry, 1944-47
Undistributed Corporate Income, by Industry, 1944-47
Inventory Valuation Adjustment, by Industry, 1944-47
Net Interest, by Industry, 1944-47
Number of Full-time Equivalent Employees, by Industry,
1944-47
Average Number of Full-time and Part-time Employees, by
Industry, 1944-47
Average Annual Earnings per Full-time Employee, by Industry, 1944-47
16
16
16
17
17
17
17
17
18
18
18
18
19
19
19
19
20
20
20
20
21
21
21
22
22
22
27. Number of Active Proprietors of Unincorporated Enterprises,
by Industry, 1944-47
28. Number of Persons Engaged in Production, by Industry,
1944-47
29. Corporate Sales, by Industry, 1944-47
30. Personal Consumption Expenditures, 1944-47
31. New Construction Activity, 1944-47
32. Producers' Durable Equipment, 1944-45
33. Net Change in Business Inventories, 1944-47
34. Supplements to Wages and Salaries, 1944-47
35. Employee Contributions for Social Insurance, by Type,
1944-47
36. Transfer Payments, 1944-47
37. Monetary and Imputed Interest, 1944-47
38. Reconciliation of Department of Commerce Estimates of
Corporate Profits with Bureau of Internal Revenue Tabulations, 1944-45
39. Major Items of Personal Income and Personal Consumption
Expenditures in Kind, 1944-47
40. National Income by Distributive Shares, Quarterly, 1944-47__
41. National Income by Distributive Shares, Seasonally Adjusted
Quarterly Totals at Annual Rates, 1944-47
42. Gross National Product or Expenditure, Quarterly, 1944-47__
43. Gross National Product or Expenditure, Seasonally Adjusted
Quarterly Totals at Annual Rates, 1944-47
44. Disposition of Personal Income, Quarterly, 1944-47
45. Disposition of Personal Income, Seasonally Adjusted Quarterly Totals at Annual Rates, 1944-47
46. Relation of Gross National Product, National Income, and
Personal Income, Quarterly, 1944-47
47. Relation of Gross National Product, National Income, and
Personal Income, Seasonally Adjusted Quarterly Totals at
Annual Rates, 1944-47
48. Personal Income, Seasonally Adjusted Monthly Totals at Annual Rates, 1944-47
National Income and Gross National Product Series, 1929—47
THE JULY 1948 issue of the SURVEY OF CURRENT
BUSINESS provides the latest National Income and
Product data covering the years 1944-47. This presentation gives to subscribers the currently official
figures on fundamental measures of the national
economy.
For completely revised series back to 1929, with
detail for all component segments, reference should be
made to the previously published NATIONAL INCOME
SUPPLEMENT to the SURVEY OF CURRENT BUSINESS.
The SUPPLEMENT contains, in addition to extensive
statistical tables incorporating the revisions, an explanation of important changes in fundamental concepts
and procedures underlying the data. That publication
furnishes to business managers and analysts, economists,
and students the basic data to which all subsequently
published national income and gross national product
figures are related.
The National Income
Supplement TO THE
Survey of Current Business
PRICE
25c
Available from the Superintendent of Documents, Government
Printing Office, Washington 25, D. C., or from your nearest Department of Commerce Field Office.
23
23
23
24
25
25
25
25
26
26
26
26
26
27
27
27
28
28
28
28
29
29
SUEVEY OF CURRENT BUSINESS
14
July 1948
Table I.—National Income and Product Account, 1947
[Millions of dollars]
Compensation of employees:
Wages and salaries
Supplements
Income of unincorporated enterprises and inventory valuation adjustment
Rental income of persons
Corporate profits and inventory valuation adjustment:
Corporate profits before tax:
Corporate profits tax liability
Corporate profits after tax:
Dividends
Undistributed profits
Inventory valuation adjustment
Net interest
National income
Indirect business tax and nontax liability
Business transfer payments
Statistical discrepancy
Less: Subsidies minus current surplus of Government
enterprises
Charges against net national product
Capital consumption allowances
CHARGES AGAINST GROSS NATIONAL PRODUCT.
122, 159
5,342
38, 866
7, 131
Personal consumption expenditures
Gross private domestic investment
Net foreign investment
Government purchases of goods and services.
164, 755
30, 031
8,898
27, 952
GROSS NATIONAL PRODUCT.
231, 636
11, 709
6,880
11, 195
-5,075
4, 293
202, 500
18, 488
612
-3, 389
-126
218, 337
13, 299
231, 636
Table II.—Consolidated Business Income and Product Account, 1947
[Millions of dollars]
Compensation of employees:
Wages and salaries:
Disbursements
Excess of accruals over disbursements
Supplements:
Employer contributions for social insurance
Other labor income
Income of unincorporated enterprises and inventory
valuation adjustment
Rental income of persons
Corporate profits before tax and inventory valuation
adjustment:
Corporate profits before tax:
Corporate profits tax liability
Corporate profits after tax:
Dividends
Undistributed profits
Inventory valuation adjustment
Net interest
Income originating
Indirect business tax and nontax liability
Business transfer payments
Statistical discrepancy
Less: Subsidies minus current surplus of Government
enterprises
Charges against net product
Capital consumption allowances
CHARGES AGAINST BUSINESS GROSS PRODUCT. _
102, 014
0
2,483
1,629
Consolidated net sales:
To consumers
To government
To business on capital accountTo abroad
Change in inventories
158, 008
11, 339
29, 413
8,896
618
BUSINESS GROSS PRODUCT.
208, 274
38, 866
7, 131
11, 709
6,643
10, 793
-5, 075
3, 154
179, 347
18, 488
612
-3,389
-126
195, 184
13, 090
208, 274
Table III.—Consolidated Government Receipts and Expenditures Account, 1947
[Millions of dollars]
Purchases of goods and services:
Purchases of direct services:
Compensation of employees:
Wages and salaries
Supplements:
Employer contributions for social insurance
Other labor income
Income originating and net and gross product _ .
Net purchases from business
Net purchases from abroad
Transfer payments
Net interest paid
Subsidies minus current surplus of government enterprises.,
1,020
172
16, 763
11, 339
-150
11, 064
4,439
-126
GOVERNMENT EXPENDITURES
43, 329
15, 571
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance:
Employee contributions
Employer contributions:
Business
Government
Households and institutions
Deficit (+) or surplus (—) on income and product transactions
GOVERNMENT RECEIPTS AND DEFICIT.
21, 621
11, 709
18, 488
2,068
2, 483
1,020
17
-14, 077
43, 329
SUEVEY OF CUREENT BUSINESS
July 1948
15
Table IV.—Rest of the World Account, 1947
[Millions of dollars]
Net payments of factor income to the United States:
Wages and salaries
Interest
Dividends
Branch profits
Income originating and net and gross product
Net purchases from the United States:
From business
From government
From persons
NET CURRENT PAYMENTS
STATES
6
208
237
402
853
Net disinvestment in the United States.
8,898
NET DISINVESTMENT IN THE UNITED STATES.
8,898
8,896
150
-1,001
TO THE UNITED
8,898
Table V.—Personal Income and Expenditure Account, 1947
[Millions of dollars]
Personal consumption expenditures:
Purchases of direct services:
Compensation of employees:
Wages and salaries paid
Supplements paid:
Employer contributions for social insurance
Other labor income
Interest paid
4,568
17
21
931
Income originating in and net product of households
and institutions
5,537
Gross product of households and institutions
5, 746
Institutional depreciation
Net
Net
Personal
Personal
209
purchases from business
purchases from abroad
tax and nontax payments
saving
;
158, 008
1,001
21, 621
8,822
PERSONAL OUTLAY AND SAVING.
195, 198
Wage and salary receipts:
Disbursements by:
Business
Government
Households and institutions
Rest of the world
Less: Employee contributions for social insurance.-.
Other labor income:
Business
Government
Households and institutions
Income of unincorporated enterprises and inventory
valuation adjustment
Rental income of persons
Dividends
Personal interest income
Government transfer payments
Business transfer payments
PERSONAL INCOME.
102, 014
15, 571
4, 568
6
2,068
1,629
172
21
38, 866
7, 131
6,880
8,732
11, 064
612
195, 198
Table VI.—Gross Savings and Investment Account, 1947
[Millions of dollars]
Business purchases on capital account
Change in business inventories
Net disinvestment in the United States by rest of world
Government deficit (+) or surplus (—) on income and
product transactions
GROSS
INVESTMENT
DEFICIT
AND
GOVERNMENT
29, 413
618
-14,077
24, 852
Excess of wage accruals over disbursements
Undistributed corporate profits (domestic)
Corporate inventory valuation adjustment
Statistical discrepancy
Capital consumption allowances by private businessForeign branch profits (net)
Institutional depreciation
Personal saving
GROSS PRIVATE SAVING.
0
10, 793
-5,075
-3,389
13, 090
402
209
8,822
24, 852
SURVEY OF CURRENT BUSINESS
16
July 1948
Table 1.—National Income by Distributive Shares, 1929-47
[Millions of dollars]
1931
1930
1929
1932
1934
1933
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
87, 355 75, 003 58, 873 41,690 39, 584 48, 613 56, 789 64, 719 73, 627 67, 375 72, 532 81, 347 103, 834 136, 486 168, 262 182, 407 181, 731 179, 289 202, 500
National income
Compensation of employees
Wages and salaries _
Private
Military
Government civilian
Supplements to wages and salaries
Employer contributions for social
insurance
Other labor income
Income of unincorporated enterprises and
inventory valuation adjustment
._
Business and professional
Income of unincorporated enterprises. __
Inventory valuation adjustment
Farm. .__
Rental income of persons
Corporate profits and inventory valuation
adjustment .
Corporate profits before tax..
Corporate profits tax liability
Corporate profits after tax
Dividends
_.
Undistributed profits
Inventory valuation adjustment
Net interest
50, 786 46, 515 39, 470 30, 826 29, 330 34, 067 37, 107 42, 675 47,696 44, 747 47, 820 51,786 64, 280 84, 689 109, 102 121, 119 122, 908 117, 294 127, 501
50, 165 45, 894 38, 886 30, 284 28, 825 33, 520 36,508 41, 754 45, 948 42, 812 45, 745 49, 587 61, 708 81, 681 105, 537 116, 882 117, 556 111, 710 122, 159
45, 206 40, 720 33, 607 25, 297 23,660 27, 420 29, 984 33, 866 38, 432 34, 564 37, 519 41, 130 51, 537 65, 628 78, 671 83, 333 82, 046 91,016 104, 727
270
271
306
370
398
591 1,862 6,285 14, 478 20,706 22, 476 7,761 3,876
312
315
308
295
338
358
4,647 4,859 4,971 4,692 4,895 5,829 6,218 7, 550 7,158 7,878 7,828 7,866 8,309 9,768 12, 388 12, 843 13, 034 12, 933 13, 556
542
505
921 1,748 1,935 2,075 2,199 2,572 3,008 3,565 4,237 5,352 5,584 5,342
621
584
547
599
621
106
515
111
473
126
416
133
372
13, 927 10, 963
8, 262 7, 032
8,120 6,277
142
755
5,665 3, 931
5,811 4,786
8,214
5,316
4,705
611
2,898
3,620
4,921
3,206
2,911
295
1,715
2,508
5,207
2, 925
3,450
-525
2,282
2,018
101
520
147
400
2,302
706
2,677
888
2,935
1,302
3,803
1,549
3,951
1,633
3,520
1,822
12,660 16, 504 22, 724
7,720 9,566 12,112
7,772 10, 210 12,464
-52 -644
-352
4,940 6, 938 10,612
3,620 4,322 5,371
25, 951
14, 128
14, 266
-138
11,823
6,150
27, 370
15, 435
15, 486
-51
11, 935
6,735
29, 051
16,791
16, 853
-62
12, 260
6,991
35, 064
20, 436
21,815
-1,379
14, 628
6,702
38, 866
23,216
24, 334
-1, 168
15, 650
7,131
19, 824
21, 098
11, 665
9,433
4,297
5,136
-1, 274
3,878
23, 692
24, 516
14, 153
10, 363
4,477
5,886
-£24
3,367
24, 039 19, 776 16, 812 24, 709
24, 333 20, 389 21, 840 29,784
13, 525 11, 641 9,000 11, 709
10, 808 8,748 12, 840 18, 075
4,680 4,720 5, 605 6, 880
6,128 4,028 7,235 11, 195
-294
-613 -5,028 -5, 075
3,144 3,005 3,417 4, 293
1942
1943
418 1,234 1,423 1,540 1,624
514
512
503
535
575
171
428
6,603 9, 858 9,942 12,249
4,276 4, 987 6,074 6, 630
4,330 5,037 6,194 6,659
-50 -120
-29
2,327 4,871 3,868 5, 619
2,095 2,288 2,682 3,140
10, 290 6,563 1,631 -1, 995 -1, 981 1,098 2,997
162 1,723 3,224
9, 818 3,303 -783 -3, 042
524
965
382
746
1,398
848
500
977 2,259
8,420 2, 455 -1, 283 -3, 424 -362
5,823 5, 500 4.098 2, 574 2,066 2,596 2,872
2,597 -3, 045 -5, 381 -5, 998 -2, 428 -1,619 -613
472 3,260 2,414 1,047 -2, 143 —625 -227
6,541 6,176 5,938 5,430 5,010 4,750 4,539
4,946
5,684
1,411
4, 273
4, 557
-284
-738
4,474
6.166
6, 197
1,512
4,685
4,693
-8
-31
4,376
10, 768 11,282
6,347 6,776
6,126 6,942
221 -166
4,421 4,506
3,278 3, 465
4,292
3,329
1,040
2,289
3,195
—906
963
4,290
5,753
6, 467
1,462
5, 005
3,796
1,209
-714
4,212
1,983
589
9,177 14, 615
9,325 17,232
2,878 7,846
6,447 9,386
4,049 4,465
2,398 4,921
-148 -2, 617
4,104 4,113
Table 2.—Gross National Product or Expenditure, 1929-47
[Millions of dollars]
1929
1930
1931
1932
1934
1933
1935
1936
1937
1938
1939
1940
1941
1944
1945
1946
1947
103, 828 90, 857 75, 930 58, 340 55, 760 64, 868 72, 193 82,483 90, 213 84, 683 90, 426 100, 477 125, 294 159, 628 192, 573 212, 231 213, 429 209, 266 231, 636
Gross national product
Personal consumption expenditures
Durable goods
_
Nondurable goods
Services.
._
Gross private domestic investment.
New construction
_
Producers' durable equipment
Change in business inventories
Net foreign investment
Government purchases of goods and ser vices. __
Federal
War
..
Nonwar
Less.' Government sales
State and local
78, 761 70, 789
9,362 7,275
37, 742 34, 052
31, 657 29, 462
15, 824 10, 209
7, 824 5,566
6,438 4,926
1,562 -283
690
771
8,472 9,169
1,311 1,410
} 1,344 1,432
22
33
7,161 7,759
61, 153
5,569
28, 955
26, 629
5,362
3,561
3,162
-1,361
197
9,218
1,537
1,549
12
7,681
49, 208
3,694
22, 743
22, 771
886
1,668
1,781
-2, 563
169
8,077
1,480
1,484
4
6,597
46, 346
3,503
22, 254
20, 589
1,306
1,142
1,783
-1,619
150
7,958
2,018
2,022
4
5,940
51, 882 56, 215 62, 515 67, 121 64, 513 67, 466
4,255 5,158 6,374 7,005 5,754 6,729
26, 732 29, 377 32, 887 35, 232 34, 032 35, 258
20, 895 21, 680 23, 254 24, 884 24, 727 25, 479
2,807 6,146 8,318 11, 440 6,311 9,004
1,420 1,890 2,783 3,687 3,309 3,986
2,531 3,351 4,531 5,444 3,975 4,577
-1, 144
905 1, 004 2,309
441
973
429 -54 -93
62 1,109
888
9,750 9,886 11, 743 11, 590 12, 750 13, 068
2,991 2,931 4,815 4,552 5,280 5,157
f 1, 258
2,997 2,935 4,818 4,557 5,286 \3, 908
6
4
3
5
6
9
6,759 6,955 6,928 7,038 7,470 7,911
72, 052
7,854
37, 594
26, 604
12, 983
4,600
6,108
2,275
1,509
13, 933
6,170
2,223
3,956
9
7,763
82, 255
9,750
43, 960
28, 545
17, 211
5,661
7,676
3,874
1,124
24, 704
16, 923
13, 794
3,173
44
7,781
90, 835
6,845
52, 962
31, 028
9,330
3,212
4,702
1,416
-207
59, 670
52, 027
49, 567
2,664
204
7,643
101, 626
6,515
61, 205
33, 906
4,591
2,010
3,761
-1, 180
-2, 245
88, 601
81, 223
80, 384
1,480
641
7,378
111, 401
6,890
67, 473
37, 038
6,395
2,347
5,402
-1,354
-2, 099
96, 534
89, 006
88, 615
1,552
1,161
7,528
122, 830
8,254
75, 367
39, 209
9,244
3,314
7,272
-1,342
-1, 438
82, 793
74, 796
75, 923
1,031
2,158
7,997
1942
1943
1944
1945
147,363 164, 755
16, 242 20, 963
87, 478 96, 487
43, 643 47, 305
26, 458 30, 031
8,903 11, 662
12, 784 17, 731
4,771
618
4,672 8, 898
30, 773 27, 9i>2
20, 792 15, 6: 6
21, 184 }l6, 926
2,469
2,861 1,310
9,981 12, 336
Table 3.—-Personal Income and Disposition of Income, 1929—47
[Millions of dollars]
1929
Personal income
1930
1931
1933
1934
1935
1936
1937
1938
1939
1940
1941
1946
1947
85, 127 76, 195 64, 835 49, 274 46, 629 53, 230 59, 861 68, 353 73, 976 68, 327 72, 607 78, 347 95, 308 122, 159 149, 432 164, 500 170, 339 178, 054 195, 198
Wage and salary receipts
50,023 45, 747 38, 735
Total employer disbursements
50, 165 45, 894 38, 886
Less: Employee contributions for social insur151
147
142
ance
473
515
520
Other labor income
_ _ __
19, 738 15,749 11, 834
Proprietors' and rental income
5,823 5,500 4,098
Dividends
7 524 7,140 7,022
1,499 1,544 2,673
Transfer payments
2,643 2,507 1,858
Less1 Personal tax and nontax payments
607
1,263 1,134
Federal
1,380 1,373 1,251
State and local
82, 484 73, 688 62, 977
Equals: Disposable personal income
Less: Personal consumption expenditures
78, 761 70, 789 61, J53
3,723 2, 899 1,824
Equals: Personal saving
1932
30, 132 28, 673 33, 363 36, 346 41, 574 45, 382 42, 258 45, 149 48, 929 60, 907 80, 515 103, 489 114, 839 115, 208 109, 754 120, 091
30, 284 28, 825 33, 520 36,508 41, 754 45, 948 42, 812 45, 745 49, 587 61, 708 81, 681 105, 328 117,075 117,542 111, 740 122, 159
162
152
152
554
157
596
658
566
fOl 1,166
180
416
372
575
514
512
535
400
428
589
503
706
7,429 7,225 8,698 12, 146 12, 624 15, 389 14, 046 14, 747 16, 280 20, 826 28, 095
2, 574 2,066 2,596 2,872 4,557 4,693 3,195 3,796 4,049 4,465 4,297
6,571 6,180 5,980 5,680 5, 575 5,580 5, 482 5,417 5,395 5,402 5,395
2,152 2,113 2,193 2,389 3,520 2,418 2, 834 2, 963 3,119 3,119 3,151
1, 455 1,464 1,595 1,888 2,258 2,921 2,862 2,440 2,604 3, 293 5,962
474
595
827 1,130 1,723 1, 635 1,235 1,364 2,016 4,668
331
1,124
990 1,000 1,061 1, 128 1,198 1,227 1,205 1,240 1,277 1,294
47, 819 45, 165 51, 635 57, 973 66, 095 71, 055 65, 465 70, 167 75, 743 92, 015 116, 197
49,208 46, 346 51, 882 56, 215 62,515 67, 121 64, 513 67, 466 72, 052 82, 255 90, 835
952 2,701 3,691 9,760 25, 362
-1,389 — 1, 181 -247 1,758 3,580 3, 934
1,839
888
32, 101
4,477
5,507
2,970
17, 815
16, 517
1,298
131,617
101, 626
29, 991
2,236
1, 302
34, 105
4,680
5,947
3,627
18, 926
17, 536
1,390
145, 574
111, 401
34, 173
2,334 1,986
1.549 3,633
36, 042 41, 766
4,720 5,605
6,670 7,883
6,150 11,413
20, 909 18, 878
19, 379 17, 162
1,530 1,716
149, 430 159, 176
122, 830 147, 363
26, 600 11, 813
2, 068
1, 822
45, 9S7
6, 8SO
8,732
11,676
21, 621
19,661
1, 960
173, 577
164, 755
8,822
SUEVEY OF CUKEENT BUSINESS
July 1948
Table 4.—Relation of Gross National Product, National Income,
and Personal Income, 1944-47
[Millions of dollars]
1944
Gross national product
Less: Capital consumption allowances _ _ _ _ _ _
Depreciation charges
Accidental damage to fixed capital
Capital outlays charged to current expense
Equals: Net national product
Plus: Subsidies minus current surplus of government
enterprises
Less: Indirect business tax and nontax liability
..
Business transfer payments
Statistical discrepancy
... .__ _ _
Equals: National income
Less: Undistributed corporate profits _..
Corporate profits tax liability
Corporate inventory valuation adjustment- - _
Contributions for social insurance
Excess of wage accruals over disbursements
Plus: Net interest paid by government
Government transfer payments
Business transfer payments
Equals: Personal income
1945
1946
231 636
13, 299
10, 480
557
2,262
218, 337
935
705
835
14, 021 15, 625 17, 529
532
545
578
979
4,087
3,981
182, 407 181, 731 179, 289
7,235
6,128
4,028
13 525 11,641
9,000
-294
-613 -5,028
5,171
6,137
5,937
14
-193
-30
2,803
3,665
4,466
3,082
5,618 10, 835
532
545
578
164 500 170 339 178, 054
-126
18, 488
612
-3, 389
202, 500
11, 195
11, 709
-5, 075
5,588
0
4,439
11, 064
612
195, 198
Table 5.—Sources and Uses of Gross Savings, 1944-47
[Millions of dollars]
Gross private saving
55, 777
Personal saving
34, 173
Undistributed corporate profits
6,128
-294
Corporate inventory valuation adjustment
Business depreciation charges
10, 373
Institutional depreciation
_ - ____
200
Accidental damage to fixed business capital
360
943
Capital outlay charged to current expense
Excess of wage accruals over disbursements
-193
Statistical discrepancy
_
__
4,087
4,296
Gross Investment
6,395
Gross private domestic investment
Net foreign investment
-2, 099
Government deficit (+) or surplus (— ) on income and
product transactions
51,481
53, 994
Federal- .
__
__
. .
-2, 513
State and local
1945
1946
46, 405 26, 795
26 600 11,813
4,028
7,235
-613 -5, 028
9,300
10, 667
203
206
416
381
1,144
1,904
14
-30
979
3,981
7,806 31, 130
9,244 26, 458
4,672
-1,438
Table 7.—Consolidated Business Income and Product, 1944-47
[Millions of dollars]
1944
1947
212 231 213 429 209 266
11, 876 12, 395 11, 826
9 506
10 573 10 870
416
360
381
1,904
1,144
943
200, 355 201, 034 197, 440
1944
17
1947
24, 852
8 822
11, 195
-5, 075
10, 271
209
557
2,262
0
-3, 389
38, 929
30, 031
8,898
Business gross product
Consolidated net sales
To consumers_ _ __
To government
To business on capital account
..
To abroad
Change in inventories
_
Charges against business gross product
Income originating in business
_
. Compensation of employees
Wages and salaries
Disbursements
Excess of wage accruals over disbursements
Supplements to wages and salaries
__
Employer contributions for social insurance
Other labor income
Income of unincorporated enterprises and inventory valuation adjustment _ _
Business and professional
Income of unincorporated enterprises
Inventory valuation adjustment
Farm
Rental income of persons
Corporate profits and inventory valuation adjustment
Corporate profits before tax
Corporate profits tax liability
Corporate profits after tax
_ _.
Dividends
Undistributed profits
-__
Inventory valuation adjustment
Net interest
Adjustments to business net product . _
Indirect business tax and nontax liability
Business transfer payments. _ Statistical discrepancy
__
Less: Subsidies minus current surplus of government enterprises
_ _Capital consumption allowances
1945
1946
1947
174, 727
176, 081
106, 006
62, 748
7,749
-422
-1, 354
174, 727
145, 103
84, 768
81, 262
81, 455
172, 652
173, 994
116, 854
46, 001
10, 586
553
-1, 342
172, 652
141, 157
83, 254
79, 741
79, 727
182, 836
178, 065
141, 399
10, 917
21, 687
4,062
4,771
182, 836
153, 065
92, 365
88, 745
88,775
208, 274
207, 656
158, 008
11, 339
29, 413
8,896
618
208, 274
179, 347
106, 126
102, 014
102, 014
-193
3,506
14
3,513
—30
3,620
0
4,112
2,313
1,193
2,127
1,386
2,115
1,505
2,483
1,629
27, 370
15, 435
15, 486
-51
11, 935
6,735
29,051
16, 791
16, 853
-62
12, 260
6,991
35, 064
20,436
21, 815
-1, 379
14, 628
6,702
38, 866
23, 216
24, 384
-1, 168
15, 650
7,131
23, 746 19, 548 16, 375
24, 040 20,161 21, 403
13, 525 11, 641 9,000
10, 515 8,520 12, 403
4, 577 4,645 5,467
5,938 3,875 6,936
-294
-613 -5, 028
2,484 2,313 2,559
17, 948 19, 303 18, 151
14, 021 15, 625 17, 529
545
532
578
4,087 3,981
979
24, 070
29, 145
11, 709
17, 436
6, 643
10, 793
-5, 075
3,154
15, 837
18, 488
612
-3, 389
705
11, 676
Liquid saving (S. E. C. estimates) *
Currency and bank deposits
_
Savings and loan associations
Insurance and pension reserves
Private
Government *•
.. Securities
U. S. Government
...
State and local governments
Corporate and other
__
_.
Liquidation of mortgage debt on nonfarm dwellings
.
Liquidation of debt, not elsewhere classified
Adjustments of liquid saving to Department of Commerce personal saving concept
On account of persons other than unincorporated
enterprices :
Net purchases of nonfarm residences
New construction by nonprofit institutions. ._
Less* Depreciation
Less: Increase in Government insurance and
pension reserves
On account of unincorporated enterprises other
than farms:
Increase in inventories
.
New construction and producers' durable
equipment
Less* Depreciation
Less: Increase in net payables to banks
Less: Increase in net payables to other corporations and financial intermediaries
On account of farms:
Increase in inventories
New construction and producers' durable
equipment
Less* Depreciation
.Less: Increase in farm holdings by corporations and financial intermediaries
Less: Increase in mortgage debt to corporations and financial intermediaries
Less: Increase in other debt to corporations
and financial intermediaries
Equals: Liquid saving plus adjustments to personal
saving concept
Personal saving
Difference due to errors and omissions
_
1945
1946
41.31
17.49
82
8.15
3 21
4.94
14 91
15.79
—.11
—.77
13.74
11.90
1.18
6.87
3.43
3.44
.26
.25
—.37
.38
8.09
3.00
1.16
6.70
3.34
3.35
3 92
2.61
.28
1.03
.13
-.20
36.92
18.99
1.06
8.55
3.46
5.09
9 64
10.51
— 21
-.66
-.24
-1.09
—3.31
—3.16
-3.80
-2.88
-6.61
-7.02
-.70
—1.02
.75
.06
1.91
.73
.11
1.93
3.08
.39
2.01
4.81
.48
2.12
4.94
5.09
3.44
3.35
1947
.27
.09
1.05
.57
.78
1.20
.04
1.56
1.07
.44
3.62
1.11
1.27
4.15
1.19
1.13
.18
.90
1.01
1.24
—.55
—.36
-.26
—2.12
1.62
1.75
1.54
1.94
2.52
2.12
3.50
2.54
—.11
—.08
-.06
-.02
-.38
—.23
-.01
.03
.01
-.37
.21
.83
34.70
34.17
.53
29.90
26.60
3.30
13.04
11.81
1.23
7.07
8.82
-1.75
1
Excludes Armed Forces Leave bonds which amounted to $600 million and $160 million
in 1946 and 1947, respectively.
Source: Securities and Exchange Commission.
http://fraser.stlouisfed.org/ 3
794877—48
Federal Reserve Bank of St. Louis
-126
13, 090
[Millions of dollars]
1944
1944
935
11, 620
Table 8.—Government Receipts, 1944-47
38, 599 -4, 335 -14,077
41,358 -2, 188 -12,999
-2, 759 -2, 147 -1,078
Table 6.—Liquid Saving Estimates of the Securities and Exchange
Commission and Their Reconciliation With Personal Saving
Estimates of the Department of Commerce, 1944-47
[Billions of dollars]
835
12, 192
Total receipts
.
Federal
Personal tax and nontax receipts before refunds __
Income taxes...
... .. _
Estate and gift taxes
Other taxes
Nontaxes
Less* Tax refunds
Equals: Personal tax and nontax receipts .
Corporate profits tax accruals
Indirect business tax and nontax accruals before
refunds
Excise taxes
Liquor _
Tobacco
Other .
._
Customs duties
Capital stock tax
Nontaxes
Less* Tax refunds
Equals: Indirect business tax and nontax accrualsContributions for social insurance
State and local
Personal tax and nontax receipts
Income taxes
_
Death and gift taxes
Motor vehicle licenses
Property taxes.
_ __
Other taxes
_ _ _
Nontaxes
Corporate profits tax accruals
Indirect business tax and nontax accruals
Sales taxes
. . . .
General
Gasoline. _ _
_ _ _ _ .
_.
Liquor
Tobacco
_
_
Motor-vehicle licenses
Property taxes
_ _
Other taxes
Nontaxes
Contributions for social insurance
Federal grants-in-aid
1945
1946
1947
51, 643
54, 312
51, 344
57, 406
41, 588
17, 880
17, 133
565
74
108
344
17, 536
13, 066
43, 459
20, 710
19, 848
663
81
118
1,331
19, 379
11, 194
39, 081
18, 815
17,987
734
1
93
1,653
17, 162
8,534
43, 865
21, 335
20, 446
829
6,226
7,180
6,214
2,370
1,034
2,810
397
353
216
52
7,128
5,758
11,723
1,530
374
142
190
152
110
562
447
8,497
2,106
816
777
344
169
242
4,750
1,040
359
379
870
7,975
7,267
2,691
1,219
3,357
503
7,950
7,297
2,330
1,267
3,700
436
205
79
7,896
5,489
13, 371
1,716
378
154
206
160
133
685
466
9,633
2,725
1,053
1,043
410
219
288
4,989
1,196
435
448
1,108
217
72
7,878
5,102
15, 265
1,960
442
177
233
166
156
786
485
10, 610
3,255
1,322
1, 271
399
263
325
5,193
1, 317
520
486
1,724
5,257
2,083
925
2,249
378
372
219
55
6,171
4,815
11, 002
1,390
339
124
184
144
87
512
459
7,850
1,864
745
673
289
157
229
4,453
979
325
356
947
60
1,674
19, 661
11, 224
SURVEY OF CURRENT BUSINESS
18
Table 12.—National Income by Legal Form of Organization, 1944-47
Table 9.—Government Expenditures, 1944-47
[Millions of dollars]
[Millions of Dollars]
1944
Total expenditures
Federal
__._ _.__
_____
Purchases of goods and services
C ompensation of employees _ _
Net purchases from business
New Construction
___
__ _
Other
Less: Domestic sales of surplus consumption goods and materials
Net purchases from abroad
Purchases from abroad
Less: Sales to abroad
_ _
Transfer payments
Grants-in-aid to State and local governments
Net interest paid
Interest paid
_ .
_
Less: Interest received
Subsidies less current surplus of government enterprises
State and local
Purchases of goods and services..
_
Compensation of employees
Purchases from business .
_
New construction
Other
-.
Transfer payments
Net interest paid
Interest paid ._ _ . _ _
_
Less* Interest received
Less: Current surplus of government enterprises
1945
1946
103, 124
95, 582
89 006
27, 978
60 103
1,761
58 551
92, 911
84, 817
74, 796
30, 526
43 327
1,440
42 309
47, 009
36, 893
20, 792
14,529
7 256
902
7 070
43, 329
30, 866
15, 616
9,173
6 593
865
5 986
209
925
1 877
952
1 838
947
2 420
3 262
842
422
943
2 679
1 736
4 300
870
3 335
4 335
1 000
716
—993
1 152
2 145
9 210
1,108
4 164
5 217
1 053
258
—150
902
1 052
8 864
1,724
4 115
5 230
1 115
1 371
8 489
7,528
4 883
2 645
552
2,093
1 244
383
627
244
1 516 1 619
8 964 11 224
7 997
9 981
5 323 6 320
2 674
3 661
652
1 303
2 022
2 358
1 318 1 625
302
330
581
566
251
264
666
681
684
14
12
7
4
2
2
2
547
187
336
590
746
219
527
200
324
598
274
673
[Millions of dollars]
1944
1945
1946
4,815
2 092
2,723
445
2,278
182
4,633
365
4,998
664
4,334
5,758
2 180
3,578
1,493
2,085
199
5,559
491
6,050
1 336
4,714
5 489
1 773
3 716
1,651
2 065
256
5 233
608
5 841
2 357
3 484
5 102
1 832
3 270
838
2 432
128
4 974
667
5 641
2 140
3 501
356
144
379
154
448
213
486
236
212
4
352
78
430
223
207
225
5
374
82 '
456
233
223
235
7
441
87
528
245
283
250
10
476
92
568
277
291
1947
Table 11.—Transactions of the Rest of the World With the United
States, 1944-47
[Millions of dollars]
1944
1945
1946
Net current payments to the United States
-2, 099 -1, 438
4,672
423
Net payments of factor income
369
611
11
7
12
Wages and salaries. _ _ _ _
.
118
167
130
Interest
103
Dividends
_ _
_ _
75
138
190
153
299
Branch profits
Net purchases from the United States __ _.
-2, 522 — 1, 807
4,061
—422
Net purchases from United States business
553
4 062
4,984
Purchases from United States business
3,877
9,844
Sales to United States business
___ ___
4,299
4,431
5,782
Net purchases from United States Government _ _ -925
-943
993
952
Purchases from United States Government _ .
1,736
2,145
1 877 2,679
1,152
Sales to United States Government
-994
—1,175 —1,417
Net purchases from United States persons
94
124
Purchases from United States persons
45
1,511
1,118
Sales to United States persons
1,220
2,099
1,438 -4, 672
Net capital movement to the United States
21 —1,399 —3, 603
Long-term
-851
Short-term
_
356
1,915
-623
1,350
548
Change in gold stock
8
155
Errors and omissions
_ _
-37
Adjustment for United States territories and posses366
409
250
sions
1944
1947
Table 10.—Social Insurance Funds, 1944-47
Federal:
Contributions for social insurance
Employee contributions
Employer contributions
Government and government enterprises
Private
Less* Transferred to general government
Equals- Retained bv social insurance funds
Plus' Investment income
Equals* Net receipts
_
Less' Benefit payments
Equals 1 Surplus (+) or deficit (— )
_ _
State and local:
Contributions for social insurance
Employees
Employer (government and government enterprises)
Less* Transferred to general government
Equals- Retained by social insurance funds
Plus* Investment income
Equals- Net receipts
Less: Benefit payments. _
_ __
Equals' Surplus (+) or deficit (— ) _ _ _ _
July 1948
1947
8,898
853
6
208
237
402
8,045
8 896
15, 798
6,902
150
1,052
902
—1, 001
145
1,146
-8, 898
—7, 741
2
-2, 163
1,004
1945
1946
1947
National income
182, 407 181, 731 179, 289
202, 500
Income originating in business, total
Corporate business
• Compensation of employees Wages and salaries
Compensation of corporate officers
Other wages and salaries
Supplements to wages and salaries
Corporate profits and inventory valuation adjustment _
.
Corporate profits before tax
Corporate profits tax liability
Corporate profits after tax
__ _ _
Inventory valuation adjustment
Net interest
_ _Sole proprietorships and partnerships
Compensation of employees
Wages and salaries
Supplements to wages and salaries
Income of unincorporated enterprises and inventory valuation adjustment
-_
Business and professional
Income of unincorporated enterprises
Inventory valuation adjustment
Farm
__
Net interest
Other private business
Compensation of employees
Wages a n d salaries
._
_____
Supplements to wages and salaries
Income of unincorporated enterprises— business
and professional
Rental income of persons
Net interest
Government enterprises
Compensation of employees
Wages and salaries
Supplements to wages and salaries
Income originating in general government
Compensation of employees Wages and salaries
Supplements to wages and salaries _ __
_ __
Employer contributions for social insurance- _
Other labor income
_ _
_
Income originating in households and institutions
Compensation of employees
Wages and salaries
_.
Supplements to wages and salaries
Employer contributions for social insurance. _
Othp.r labor income
N e t interest
- _ _ _ _
Income originating in the rest of the world
Wages and salaries
_
-_
Corporate profits after tax
__
Net interest
145, 103 141, 157 153, 065
94, 022 87, 013 88, 436
69, 431 66, 721 71, 188
66, 360 63, 657 68, 097
4,118
3,759
0)
62, 601 59, 539
0)
3,091
3,064
3,071
179, 347
107, 175
81, 997
78, 470
23, 746
24, 040
13, 525
10, 515
-294
845
40, 427
12, 948
12, 591
357
19, 548 16, 375
20, 161 21, 403
9,000
11, 641
8,520 12, 403
-613 -5, 028
744
873
43, 061 53, 076
13, 987 18, 054
13, 626 17, 628
426
361
24, 070
29, 145
11, 709
17, 436
-5, 075
1,108
59, 555
20, 765
20, 285
480
27, 203
15, 268
15, 319
-51
11, 935
276
9,232
967
939
28
28, 866 34, 845
16, 606 20, 217
16, 668 21, 596
-62 -1, 379
12, 260 14, 628
208
177
9,721
9,572
1,035
1,291
1,003
1,256
32
35
38, 582
22, 932
24, 100
-1, 168
15, 650
208
10, 693
1,440
1, 404
36
167
6,735
1,363
1,422
1,422
1,372
50
32, 861
32, 861
32, 165
696
608
88
4,020
3,478
3,443
35
14
21
542
423
12
293
118
185
6,991
1,361
1,511
1,511
1,455
56
35, 849
35, 849
34, 044
1,805
1,663
142
4,356
3,794
3,760
34
13
21
562
369
11
228
130
1
Data not available.
219
6,702
1,509
1,832
1,832
1,764
68
20, 849
20, 849
18, 923
1,926
1,819
107
4,764
4,073
4,035
38
17
21
691
611
7
437
167
8
3,527
284
7,131
1,838
1, 924
1, 924
1,855
69
16, 763
16, 763
15, 571
1,192
1, 020
172
5, f>37
4, 606
4, 568
38
17
21
031
853
6
(.39
;>08
SUEVEY OF CUKEENT BUSINESS
July 1948
Table
Table
Table
Table
19
13.—National Income by Industrial Origin, 1944-47
14.—Wages and Salaries, by Industry, 1944-47
15.—Supplements to Wages and Salaries, by Industry, 1944-47
16.—Income of Unincorporated Enterprises, by Industry, 1944-47
[Millions of Dollars]
Table 13. — National income
1944
All industries, total .
1945
1946
1947
1944
1945
1946
1947
182, 407 181, 731 179, 289 202, 500 116,882 117,556 111,710 122, 159
14, 805 15, 255 17, 972 19, 287
Agriculture, forestry and fisheries
Farms
14, 469 14, 917 17, 585 18, 885
229
232
217
203
Agricultural and similar service establishments.
30
34
45
47
Forestry
89
101
113
123
Fisheries
_ _
2,943
2,799
4,034
3,007
Mining
350
329
560
Metal mining
417
219
238
265
281
Anthracite mining
1,206
1,271
1,255
1,729
Bituminous and other soft coal mining
793
800
883
1, 123
Crude petroleum and natural gas
224
341
224
275
Nonmetallic mining
4,118
6,488
8,733
Contract construction
4,212
60, 055 51, 937 48, 125 61,715
Manufacturing
5, 155
5,566
6,469
5,040
Food and kindred products
292
293
217
369
Tobacco manufactures
3,015
2,959
4,113
5,100
Textile-mill products
2,534
2,668
3,247
3,673
Apparel and other finished fabric products
1,089
1,165
1,447
2,053
Lumber and timber basic products
1, 253
987
1,007
1,439
Furniture and finished lumber products
1,348
1,708
1,346
2,348
Paper and allied products
2,054
2,263
Printing and publishing _
2,707
3,095
3,240
3, 097
3,358
3,610
Chemicals and allied products
1,362
1,632
1,334
2,350
Products of petroleum and coal
1,029
996
939
Rubber products
_ _
1,128
1,024
863
899
1,201
Leather and leather products
1,524
1,123
1,128
Stone, clay, and glass products
1,899
9,052
5,812
7,428
Iron and steel and their products
_
_
8,186
1,689
1,896
1,649
2,134
Nonferrous metals and their products
4,480
5,840
5,056
Machinery (except electrical)
6,117
2,292
3,722
3,090
3,420
Electrical machinery
1,872
7,746
Transportation equipment except automobiles- _ 12, 480
1,980
1,124
1,411
1,759
3,416
Automobiles and automobile equipment _
1,574
1,542
1,582
1,728
Miscellaneous
23, 846 26, 619 33, 225 37, 531
Wholesale and retail trade
7,452
6,803
8,823 10, 326
Wholesale trade
__
Retail trade and auto services
17, 043 19, 167 24, 402 27, 205
13, 255 13, 964 15, 046 16, 479
Finance, insurance, and real estate
Banking
1,664
2,184
1,865
2,439
Security and commodity brokers, dealers and
203
299
299
198
exchanges
266
283
366
427
Finance, n e e
1,022
1,329
Insurance carriers
1,011
1,207
652
Insurance agents and combination offices
698
910
1,017
9,448
9,808 10, 080 11, 069
Real estate
Transportation
11, 206 10, 549 10,318 11, 382
Railroads
__
_ __ 6,955
6,058
5,576
6,199
632
Local railways and bus lines
575
669
571
Highway passenger transportation ___
_ __ _
676
692
782
777
1,681
1,972
Highway freight transportation
1,310
1,398
Water transportation
_
857
995
797
793
Air transport (common carriers)
177
236
193
257
Pipe-line transportation
147
133
137
153
Services allied to transportation
482
513
505
557
Communications and public utilities
4,948
5,402
4,101
4,323
Telephone and telegraph
1,676
1,787
2,027
2,133
Radio broadcasting
177
212
189
226
Utilities: electric and gas.
2,167
2,261
2,611
2,936
81
86
98
Local public services, n. e. c
_ _ _
107
13, 569 14, 555 17, 184 18, 831
Services
__
___
912
Hotels and lodging places
1,226
1,003
1,289
1,985
2,145
2,654
2,731
Personal services
Private households
__ 2,220
2,444
2,581
3,070
Commercial and trade schools and employment
102
147
85
136
agencies
1,065
1,554
1,698
1,223
Business services, n. e. c
_
718
664
845
948
Misc repair services and hand trades _ ._
851
889
1,115
1,046
Motion pictures
Amusement and recreation, except motion pic452
741
541
760
tures
2,288
2,704
3,148
2,396
Medical and health services
1,046
1,292
1,384
1,135
Legal services
Engineering and other professional services,
485
656
536
777
n. e. c
.
678
743
539
Educational services, n. e. c
580
341
368
396
354
Religious organizations _
_
668
705
Nonprofit organizations, n. e. c
520
560
34, 283 37, 360 22, 681 18, 687
Government and government enterprises. _ _
Federal— general government
27, 978 30, 526 14, 529
9,173
Civilian, except work reliefMilitary
__.
Work relief
1,082
1,151
Federal— government enterprises
1,410
1, 426
4,883
5,323
7,590
State and local— general government
6,320
Public education
_
_
Nonschool, except work relief
Work relief
422
498
340
360
State and local— government enterprises.
._
158
295
419
226
Rest of the world
147, 898 144, 213 156, 313 183, 394
Addendum: All private industries ._
Table 14.— Wages and salaries
Table 16.— Income, unincorporated enterprises
Table 15.— Supplements
1944
1945
1946
1947
1944
1945
1946
1947
4,237
5,352
5,584
5,342
27, 421
29, 113
36, 443
40, 034
2,295
2,094
123
26
52
2,197
263
202
1,052
515
165
2,887
42,913
2,946
158
2,046
1,876
874
768
879
1,307
2,060
600
645
650
839
6,740
1,340
4,180
2, 673
10, 121
1,058
1, 153
13, 020
4,251
8,769
2,875
758
2,444
2,239
115
32
58
2,173
227
196
1,020
569
161
2,953
38, 233
3,106
171
2,113
1,984
848
799
932
1,468
2,072
641
637
702
857
5,785
1,250
3,900
2,390
6,490
914
1,174
14, 668
4,703
9,965
3,144
826
2,771
2,536
130
41
64
2,377
234
237
1,066
628
212
4,449
36, 489
3,585
186
2,680
2,451
1,092
1,053
1, 130
1,921
1,947
697
736
872
1,128
4,546
1, 344
3,876
2, 204
1,978
1,749
1,314
19, 805
6,136
13, 669
3,963
991
3,020
2,776
131
43
70
2,916
297
245
1,383
740
251
5,874
42, 787
4,074
203
3,117
2,669
1, 455
1,274
1,346
2,264
2,168
859
812
946
1,347
5,643
1,521
4,783
2,651
1,891
2,307
1,457
22, 726
7,360
15, 366
4,287
1,115
9
5
4
0
0
87
13
7
39
23
5
148
1,900
144
6
79
88
36
31
38
43
101
80
24
23
39
316
51
164
141
414
37
45
430
143
287
155
56
10
6
4
0
0
86
12
7
36
25
6
155
1,781
148
7
82
92
35
31
40
53
119
103
24
24
38
278
49
155
134
296
30
43
471
158
313
164
61
11
6
4
0
1
101
11
9
48
26
7
218
1,582
153
7
95
106
41
36
44
59
109
109
25
27
45
221
49
141
120
104
46
45
564
186
378
189
68
12
6
5
0
1
129
12
11
68
30
8
271
1,756
166
7
107
114
52
41
48
66
118
119
27
30
51
• 251
52
165
137
101
58
46
625
213
412
201
74
12, 058
11, 935
87
2
34
139
6
2
35
92
4
965
1,536
405
5
52
313
92
34
14
98
29
4
9
35
17
98
70
141
21
25
8
66
7,139
1,103
6,036
592
0
12,381
12, 260
81
2
38
117
5
2
34
72
4
1,012
1,598
445
5
56
342
90
35
16
123
29
4
9
41
14
84
66
128
18
17
8
68
8,077
1,291
6,786
679
0
14, 765
14, 628
92
3
42
139
8
3
35
88
5
1,700
1,973
552
6
82
469
115
46
21
185
28
4
11
59
25
63
71
127
17
6
9
77
11, 007
1,808
9,199
777
0
15, 792
15, 650
93
3
46
200
9
3
50
131
7
2,387
2,364
664
7
102
527
154
56
26
233
30
6
12
67
34
82
81
161
20
6
10
86
11, 8762,028:
9,848
812
0
163
219
820
289
626
7,525
4,377
464
384
926
743
130
79
422
1,994
989
100
871
34
7,627
576
1,145
1,743
222
236
878
315
667
7,889
4,405
495
424
1,014
885
150
81
435
2,209
1,123
116
932
38
8,333
628
1,274
1,943
278
305
1,090
428
871
8,494
4,771
554
528
1,224
683
231
88
415
2,825
1,480
143
1,156
46
9,843
792
1,617
1,955
231
351
1,232
460
898
9,025
4,934
596
575
1,401
666
267
100
486
3,284
1,672
157
1, 405
50
10, 808
829
1,683
2, 210
4
20
31
9
35
439
324
13
19
39
17
5
3
19
159
94
4
59
2
164
20
34
3
6
20
31
10
36
467
340
15
22
40
17
9
5
19
184
104
5
73
2
173
23
36
3
7
23
36
11
44
499
364
16
26
44
16
12
5
16
224
134
6
82
2
202
27
41
3
6
26
39
13
43
627
480
18
27
47
17
13
6
19
248
149
7
90
2
212
27
41
3
118
12
0
332
130
356
0
2
63
273
7
0
0
11
16
5
2
0
9
4,620
184
747
171
12
0
354
142
377
0
2
63
293
8
0
0
11
20
7
2
0
11
4,852
206
782
121
15
0
451
190
439
0
3
83
334
8
0
0
11
24
9
2
0
13
5,619
231
927
63
20
0
526
203
499
0
3
92
382
9
0
13
28.
11
2
0
15
6, 076
242
935
95
651
235
509
54
750
236
552
64
966
306
680
87
1, 055
336
683
6
22
8
20
4
27
9
19
5
31
11
21
6
33
12
22
17
314
458
58
10
359
410
5.7
11
443
517
70
14
482;
587
62:
319
773
161
362
840
175
498
988
222
507
1,246
255
11
6
2
12
6
2
15
9
3
15
12
3
76
1,506
886
92
1,548
961
121
1,706
1,070
128
1,890
1,130
191
420
302
507
33, 537
27, 508
6,802
20, 706
0
1,036
4,657
2,049
2,608
0
336
12
83, 333
215
440
315
549
35, 499
28, 962
6,486
22, 476
0
1,099
5,082
2,256
2,826
0
356
11
82, 046
276
326
546
497
329
356
689
653
20, 687 17, 426
12, 853
8,247
5,092
4,371
3,876
7,761
0
0
1,362
1,347
7,324
6,070
2,745
3,384
3,325
3,940
0
0
417
493
7
6
91, 016 104, 727
6
7
10
9
746
470
6
7
10
9
1,861
1,564
6
8
10
12
1,994
1,676
7
8
10
13
1,261
926
290
84
318
109
378
145
449
157
46
226
52
241
63
250
64
266
4
0
3,491
4
0
3,491
5
0
3,590
5
0
4,081
27, 421
29, 113
36, 443
40,034
o
SUEVEY OF CUKKENT BUSINESS
20
July 1948
Table 17^—Corporate Income Before Federal and State Income and Excess Profits Taxes, by Industry, 1944-47 l
Table 18.—Federal and State Corporate Income and Excess Profits Tax Liability, by Industry, 1944-47
Table 19.—Corporate Income after Federal and State Income and Excess Profits Taxes, by Industry, 1944-47 1
Table 20.—Net Corporate Dividend Payments, by Industry, 1944-47
[Millions of dollars]
Table 17
Corporate income before taxes
Table 19
Corporate income after taxes
Table 18
Tax liability
Table 20
Corporate dividend payments
1944
1945
1946
1947
1944
1945
1946
1947
1944
1945
1946
1947
1944
1945
1946
24, 333
20, 389
21, 840
29, 784
13, 525
11,641
9,000
11, 709
10, 808
8,748
12, 840
18,075
4,680
4,720
5,605
6,880
Agriculture, forestry and
fisheries
,
151
122
120
140
Farms..
.
__ _.
147
136
118
117
Forestry
1
0
0
0
Fisheries
4
4
4
2
Mining
876
428
486
517
Metal mining .
281
115
114
140
Anthracite mining
23
18
13
23
244
Bituminous and other soft coal mining .. _.
124
145
117
242
Crude petroleum and natural gas
131
166
159
Nonmetallic mining
_
86
63
53
50
262
Contract construction
171
97
127
Manufacturing
13, 972 10, 870 11, 264 18,200
2,094
1,957
Food and kindred products
1,540
1,591
229
195
Tobacco manufactures
152
176
1,923
1,546
795
Textile-mill products.
_
822
471
Apparel and other finished fabric products
422
266
270
492
"Lumber and timber basic prod Tints
235
119
170
304
189
145
Furniture and finished lumber products
167
1, 053
581
365
Paper and allied products.
426
615
617
634
Printing and publishing
613
1,297
1,053
Chemicals and allied products
1,194
1,559
1,494
876
Products of petroleum and coal
..
557
662
210
260
262
Rubber products
307
272
181
149
Leather and leather products
150
528
378
229
Stone, clay, and glass products
239
2,628
Iron and steel and their products .
1,895
1,318
1,259
700
370
285
Nonferrous metals and their products
443
1,264
Machinery (except electrical)
579
938
1,373
766
593
893
Electrical machinery
91
96
Transportation equipment except automobiles- 1,943 1,023 -108
1,156
69
179
Automobiles and automobile equipment __
318
346
270
268
Miscellaneous
_
320
4,743
4,828
3,633
3,429
Wholesale and retail trade
1,713
1,785
1,349
1,386
vv^holesale trade
3,030
3,043
2,247
Retail trade and auto services
2,080
2,047
1,838
1,609
Finance insurance, and real estate
1,447
1,359
Banking
.923
1,236
1,087
Security and commodity brokers, dealers and
-32
-32
-25
-31
exchanges
56
54
43
56
Finance, n e e
116
114
174
111
Insurance carriers
26
25
Insurance agents and combination offices
26
27
522
438
363
305
Real estate
1,095
661
Tran sportation
2,452
1,427
234
667
954
1,865
Railroads
.
19
32
36
59
Local railways and bus lines
87
138
181
Highway passenger transportation, n. e. C-._ __
207
139
44
74
Highway freight transportation
62
104
86
Water transportation
93
90
-4
-20
36
Air transport (common carriers)
43
55
48
51
Pipe-line transportation
65
44
42
Services allied to transportation
43
61
1,430
1,526
1,571
Communications and public utilities
1,588
255
505
535
360
Telephone and telegraph
63
72
63
67
Radio broadcasting and television
1,088
976
Utilities: electric and gas. _ _.
1,079
956
24
24
23
Local public services, n. e. c
25
775
805
615
585
Services
146
139
114
Hotels and lodging places
99
78
74
57
Personal services
60
Commercial and trade schools and employment
28
21
28
17
agencies
133
81
119
90
Business services, n. e. c
9
14
8
6
Misc. repair services and hand trades _ __
269
255
336
258
Motion pictures
Amusement and recreation, except motion pic112
108
76
45
tures
205
121
96
17
Rest of the world
70
68
1
1
156
36
7
52
38
23
91
7,987
964
89
534
169
89
99
267
379
725
92
216
90
145
1,139
256
818
463
1,080
176
197
2, 053
801
1,252
595
224
72
68
1
3
134
30
4
40
36
24
68
6,468
912
69
506
157
59
83
218
398
621
107
180
88
131
833
152
601
399
660
129
165
2,115
797
1, 318
728
333
64
61
1
2
140
30
4
41
40
25
68
4,706
809
80
637
164
84
79
239
246
525
237
109
74
157
510
141
261
77
69
78
130
1,979
732
1,247
796
389
69
66
1
2
259
75
5
83
61
35
105
7,163
844
94
760
182
169
120
428
246
620
403
88
106
218
1,056
267
499
306
87
509
161
1,944
702
1,242
840
427
50
49
0
1
361
104
16
93
121
27
36
5,985
627
87
288
101
81
68
159
234
469
570
91
60
94
756
187
555
430
863
142
123
1,376
548
828
852
699
50
50
i
1
294
84
9
77
95
29
29
4,402
628
83
289
109
60
62
147
236
432
450
82
61
98
485
133
337
194
363
50
103
1,518
589
929
881
754
76
75
-1
2
346
85
14
83
126
38
103
6,558
1,148
115
909
258
151
110
342
371
772
639
151
107
221
749
229
318
14
-177
-9
140
2,849
1,053
1,796
1,042
847
82
81
—1
2
617
206
18
161
181
51
157
11, 037
1,250
135
1,163
289
323
184
625
369
939
1,091
122
166
310
1,572
433
765
460
9
647
185
2,799
1,011
1,788
1,207
932
24
22
2
0
157
61
7
23
48
18
21
2,395
301
68
111
27
35
25
67
93
271
272
33
27
52
295
92
189
109
259
30
39
490
179
311
492
252
14
13
1
0
138
44
6
26
45
17
18
2,421
313
62
110
25
38
22
70
88
298
254
35
26
58
287
90
182
123
269
23
48
500
177
323
550
273
16
14
2
0
158
41
8
24
61
24
18
2,840
350
67
196
35
52
30
110
121
369
288
49
29
86
311
96
199
135
96
167
54
701
230
471
631
295
23
21
2
0
226
61
10
37
90
28
24
3, 708
471
77
271
47
98
61
155
124
452
385
51
39
111
400
142
251
191
77
241
64
884
367
517
584
329
9
87
101
13
161
1,414
1,079
35
133
35
52
17
27
36
820
309
47
453
11
339
52
28
20
94
78
12
191
871
582
25
122
27
49
19
21
26
833
309
42
472
10
352
60
26
21
97
80
12
197
322
132
14
56
33
41
6
21
19
600
144
26
421
9
325
53
28
21
98
81
13
200
456
256
12
36
63
45
2
23
19
561
103
25
424
9
312
56
30
-34
-44
73
14
144
1,038
786
24
74
27
38
26
38
25
768
226
25
503
14
246
47
32
-51
-40
33
13
172
556
372
11
59
17
37
17
27
16
738
196
25
504
13
263
54
31
-53
-41
34
14
241
339
102
18
82
41
52
-10
30
24
926
216
37
658
15
480
86
46
-53
-42
35
13
322
639
411
7
51
76
59
-22
32
25
869
152
38
664
15
463
90
48
-1
58
30
9
144
292
189
9
20
12
24
6
17
15
624
181
12
421
10
82
9
10
-2
102
30
8
139
292
203
9
20
11
21
5
10
13
623
189
10
414
10
89
10
10
-2
159
25
8
146
311
204
12
32
11
25
5
9
13
648
183
13
442
10
144
14
9
-5
67
6
10
177
308
200
9
30
12
29
3
9
16
698
187
13
487
11
188
25
11
17
44
8
156
14
49
3
151
8
51
3
134
11
54
3
108
11
37
6
102
3
41
3
104
13
68
5
202
17
79
6
161
4
19
1
33
3
20
1
35
6
24
1
65
11
27
1
76
34
49
48
50
11
96
27
17
60
121
62
205
6
103
10
75
25
138
37
237
All industries, total
1947
1
Corporate income before and after taxes is measured net of capital gains and losses, dividends received, renegotiation refunds, and accelerated emergency amortization charges, but before
deduction of depletion charges. The definition with respect to depletion charges has an important effect on the data for the mining industries. A complete reconciliation of the all-industry
totals for these income series with Bureau of Internal Revenue figures for "compiled net profit" is presented in table 38.
SUEVEY OF CURRENT BUSINESS
July 1948
21
Table 21.—Undistributed Corporate Income, by Industry, 1944-47
Table 22A.—Inventory Valuation Adjustment, by Industry—Corporations—1944-47
Table 22B.—Inventory Valuation Adjustment, by Industry—Unincorporated Enterprises—1944-47
Table 23.—Net Interest, by Industry, 1944-47
(Millions of dollars)
Table 22A
Table 21
inventory
Undistributed corporate income Corporate adjustmentvaluation
1944
1945
1946
1947
1944
1945
6,128
4,028
7,235
11,195
-294
-613
26
Agriculture, forestry, and fisheries
27
Farms ..
___
__
Agricultural and similar service establishments-2
Forestry
._
1
Fisheries
- 204
Mining
43
Metal mining
_ _ __
9
Anthracite mining
Bituminous and other soft coal mining
70
73
Crude petroleum and natural gas
Nonmetallic mining.
__
9
15
Contract construction
3,590
Manufacturing __
_. _
326
Food and kindred products _
19
Tobacco manufactures
177
Textile-mill products
74
Apparel and other finished fabric products
46
Lumber and timber basic products - Furniture and finished lumber products
43
92
Paper and allied products
_
Printing, publishing, and allied industries
141
Chemicals and allied products
._
198
Products of petroleum and coal
298
Rubber products
58
Leather and leather products
33
42
Stone, clay, and glass products
_
._
Iron and steel and their products
461
Nonferrous metals and their products
95
Machinery (except electrical)
366
Electrical machinery
321
Transportation equipment except automobiles. _
604
Automobiles and automobile equipment
112
84
Miscellaneous
.
Wholesale and retail trade
886
369
Wholesale trade
Retail trade and auto services
517
Finance, insurance, and real estate
360
Banking
447
Security and commodity brokers, dealers, and
-33
exchanges
-102
Finance, n e e
43
Insurance carriers
5
Insurance agents and combination offices
Real estate
__
746
Transportation
597
Railroads
15
L ocal railways and bus lines 54
Highway passenger transportation
Highway freight transportation and warehous15
ing
14
Water transportation
20
Air transport (common carriers) 21
Pipe-line transportation
Services allied to transportation
.
10
144
Communications and public utilities
45
Telephone, telegraph, and related services
13
Radio broadcasting _ .
. _
82
Utilities' Electric and gas
4
Local utilities and public services, n. e. c
_ _.
164
Services
38
Hotels and lodging places
22
Personal services
Private households
Commercial and trade schools and employment
7
agencies
18
Business services n e. c
5
Miscellaneous repair services and hand trades. .
69
Motion pictures
_
..
Amusement and recreation, except motion
5
pictures
Medical and health services.
.
._
Legal services
Engineering and other professional services,
n e e
Educational services, n. e. c
Religious organizations
Nonprofit organizations, n. e c
Rest of the world
-7
36
37
60
61
59
60
2
1
156
40
3
51
50
12
11
1,981
315
21
179
84
22
40
77
148
134
196
47
35
40
198
43
155
71
94
27
55
1,018
412
606
331
481
—3
2
188
44
6
59
65
14
85
3,718
798
48
713
223
99
80
232
250
403
351
102
78
135
438
133
119
-121
-273
—176
86
2,148
823
1,325
411
552
-3
2
391
145
8
124
91
23
133
7,329
779
58
892
242
225
123
470
245
487
706
71
127
199
1,172
291
514
269
-68
406
121
1,915
644
1,271
623
603
-49
-142
3
5
33
264
169
2
39
-51
-200
9
6
95
28
— 102
6
50
-48
-109
29
3
145
331
211
-2
21
6
16
12
17
3
115
7
15
90
3
174
44
21
30
27
-15
21
11
278
33
24
216
5
336
72
37
64
30
-25
23
9
171
-35
25
177
4
275
65
37
21
2
69
7
44
4
137
17
35
Table 22B
Unincorporated inventory valuation adjustment
All industries, total
-58
-17
1946
1947
1944
-5, 028 -5, 075
1945
-51
1946
1947
-62 -1, 379 -1, 168
Table 23
Net interest
1944
1945
1946
3,144
3,005
3,417
4,293
298
294
3
0
1
-1
-6
1
0
4
0
0
-49
6
12
—7
-5
-2
285
279
3
1
2
-1
-6
1
—1
4
1
0
-20
11
16
-6
-5
-2
-2
1
-7
—15
25
2
-3
-4
27
0
-15
-82
-26
-8
312
306
3
1
2
6
-6
2
1
7
2
3
21
18
18
-6
-6
-0
1
2
-8
-14
36
4
1947
323
318
3
1
1
6
—4
4
0
6
1
0
-52
10
4
-5
-3
0
-1
0
-5
—15
22
3
-3
-4
4
0
-18
-7
-24
-9
-i
—70
-14
-56
1,451
-73
—1
-8
-13
17
2
-3
—4
18
0
-15
-10
-26
-7
-2
-95
-13
-82
1,377
-109
-101
-7
-94
1, 577
-111
-5
41
1
-16
-5
-26
-8
-1
-98
-1
-97
2,001
-109
-57
-28
-3
-5
1,617
445
398
34
3
-69
-39
-9
-6
1,609
413
379
28
2
-75
-33
-33
-6
1,835
367
323
34
3
-70
-26
-58
-8
2,272
339
285
43
3
10
0
-1
1
0
350
54
-1
286
11
573
33
-1
474
• 8
-t
-2
0
-1
350
50
-1
289
12
582
32
498
9
-1
—1
0
0
428
61
-1
354
14
715
37
-5
623
9
0
-1
1
-1
541
78
—1
446
18
960
45
-6
857
6
52
5
85
1
-3
3
6
0
-3
3
6
1
-6
3
8
1
—5
4
10
25
1
3
-3
-1
2
—3
-1
1
-2
0
-4
-2
28
29
4
118
-3
24
29
2
130
-4
28
29
3
167
-6
32
30
3
208
-32
-3
-1
0
0
-1
-1
-5
-213
-57
-56
-33
-8
-6
-13
-11
—1
-11
6
+8
+8
-7
—2
-8
0
0
0
-9
-56
—22
-34
-4
-81
-80
-31
-31
-2
o
-3
0
-1
-16
-16
—21
-20
-1
-10
0
-10
-32
-3
-25
-3, 018 -3. 250
-487
-651
-507
-86
-118
-95
-130
-139
-23
-277
-157
-82
-9
-1
-84
-28
0
-218
-62
-125
-5
-68
-61
-68
-7
-246
-19
-267
-79
-164
+12
-5
+63
+5
-107
105
-14
-54
-46
-300
-453
-54
i
130
-197
-226
-236
-50
-131
-34
-148
-81
-88
-54
-106
-106
0
-198
-9
-118
-84 -1,683 -1,381
-848
-785
-56
-835
-596
-28
-11
-9
—1
0
-24
-20
-1
0
0
0
0
-1
0
-6
—1
0
-1
0
0
—1
-1
— 11
-2
0
-9
0
0
-142
-116
n
-1
-4
-2
-2
-7
-3
-79
-17
-1
-60
—1
-203
-167
-10
-2
-6
-3
o
-9
-4
-129
-32
-2
-93
-2
0
0
0
0
0
0
-4
-1
+
l
-2
-2
-1
+1
0
—1
0
0
0
0
0
+1
0
6
0
0
0
0
0
-2
-9
-4
0
-1
-2
0
+1
+1
0
-1
0
0
0
-1
-1
0
0
0
0
-46
n
0
0
0
-51
-17
-34
+1
+1
0
-39
1
-14
-2
0
—1
-8
-3
-25
-145
-41
0
-7
-39
-6
-7
-1
—7
-2
0
0
-5
-2
-4
-15
-2
-1
-1
0
-5
-1, 195
-237
-958
-13
-2
0
-1
-7
-3
-32
-163
-40
0
-4
-20
-15
-18
-2
-7
-5
0
0
—6
2
-6
-24
-4
-t
0
-1
-960
-202
-758
A
-a
SUEVEY OF CURRENT BUSINESS
22
July 1948
Table 24.—Number of Full-time Equivalent Employees, by Industry, 1944-47
Table 25.—Average Number of Full-Time and Part-Time Employees, by Industry, 1944—47
Table 26.—Average Annual Earnings per Full-time Employee, by Industry, 1944—47
Table 24
Full-time equivalent employees
[Data in thousands]
Table 26
Average annual earnings
[Dollars]
Table 25
Full-time and part-time employees
[Data in thousands]
1945
1944
All industries, total. .
_
_ __>_
Agriculture, forestry and fisheries
Farms
Agricultural and similar service establishments
Forestry
._
Fisheries
Mining
_
_ _ _ _ _
Metal mining
Anthracite mining . . .
Bituminous and other soft coal
Crude petroleum and natural gas
Nonmetallic mining
Contract construction _
Manufacturing
Food and kindred products
Tobacco manufactures
Textile-mill products
Apparel and other finished fabric products
Lumber and timber basic products
Furniture and finished lumber products
Paper and allied products
._
Printing and publishing
Chemicals and allied products
_
Products of petroleum and coal
Rubber products
___
Leather and leather products
Stone, clay, and glass products
Iron and steel and their products
Non ferrous metals and their products ._ _ _ _
Machinery (except electrical)
Electrical machinery _ _ _
__
_
Transportation equipment except automobiles
Automobiles and automobile equipment _ .
_
Miscellaneous
Wholesale and retail trade - ___
Wholesale trade
Retail trade and auto services
-_
Finance, insurance, and real estate
Banking.
__ _ _ _ _ _ _ _
__
Security and commodity brokers, dealers and exchanges. __
Finance, n. e. c
Insurance carriers
Insurance agents and combination offices
Real estate _ _ _ _ _
Transportation
Railroads.. _
Local railways and bus lines
__
Highway passenger transportation
Highway freight transportation
Water transportation
Air transport (common carriers)
Pipe-line transportation
___
Services allied to transportation
'Communications and public utilities
Telephone and telegraph
Radiobroadcasting
__
Utilities: electric and gas
_
_
Local public services, n. e. c
Services
Hotels and lodging places
Personal services __
__ _
Private households
___
Commercial and trade schools and employment agencies. _
Business services, n. e. c
Miscellaneous repair services and hand trades
_
Motion pictures
Amusement and recreation, except motion pictures
Medical and health services... ___ __
Legal services
Engineering and other professional services, n. e. c
Educational services, n. e. c.
Religious organizations
Nonprofit organizations, n. e. c _
Government and government enterprises _._ _ _ _ _ _ _. ._
Federal— general government
Civilian, except work relief
Military
Work relief
Federal — government enterprises
State and local— general government.—
Public education
Nonsch col, except work relief
Work relief
State and local— government enterprises
_.
Rest of the world
Addendum: All private industries _ _
1945
1946
1947
1944
1945
1946
1947
55, 113
53,335
47, 235
47, 071
56, 978
55, 257
49, 404
49, 288
2,121
2,204
2,365
2, 595
2,334
2,227
63
20
24
879
107
80
415
198
79
1,109
17, 048
1, 441
100
1,217
1,049
558
406
390
550
790
197
239
355
386
2,424
492
1,405
1,037
3,175
341
496
6,622
1, 592
5,030
1,301
336
39
79
328
115
404
2,810
1,616
188
. 157
390
205
47
26
181
887
486
30
353
18
5,023
418
757
1,616
35
238
79
214
196
641
105
59
266
196
203
17, 095
13, 910
2,545
11,365
0
442
2, 594
1,188
1,406
0
149
5
38, 013
2,222
2,118
60
20
24
829
89
73
388
206
73
1, 136
15, 189
1, 431
102
1,164
1,021
524
402
394
570
776
207
234
357
381
2,072
457
1,331
925
2,044
308
489
6. 861
1, 675
5,186
1, 326
343
42
81
337
118
405
2,886
1,628
189
165
398
247
53
25
181
911
500
33
359
19
4,989
412
770
1,572
21
254
80
215
197
630
103
66
268
199
202
16, 981
13, 748
2,446
11,302
0
464
2,621
1,198
1,423
0
148
5
36, 349
2,262
2,148
69
21
24
873
89
82
391
222
89
1, 752
14, 527
1, 503
102
1,306
1,117
620
483
447
669
705
220
259
409
474
1,686
495
1, 358
842
672
620
540
8,239
2,003
6,236
1,529
374
53
96
392
147
467
2,880
1, 564
203
199
443
200
81
27
163
1,101
613
36
430
22
5,260
460
885
1,472
24
310
106
229
236
646
119
83
277
197
216
8,809
5,299
1,865
3, 434
0
495
2,854
1,302
1,552
0
161
3
38, 423
2, 337
2,227
63
22
25
937
100
78
432
233
94
2, 068
15, 306
1,523
103
1,340
1,151
700
520
463
707
689
237
265
411
503
1,850
521
1,524
921
606
721
551
8, 539
2,177
6,362
1, 554
390
49
104
424
148
439
2,866
1,543
201
203
454
178
85
28
174
1,174
641
40
470
23
5,478
450
891
1,603
30
329
104
226
228
707
125
93
284
197
211
6,810
3,043
1,464
1,579
0
493
3,099
1,404
1,695
0
175
2
40, 259
2,366
2,227
95
20
24
879
107
80
415
198
79
1,109
17, 048
1,441
100
1,217
1,049
558
406
390
550
790
197
239
355
386
2,424
492
1,405
1, 037
3,175
341
496
7,362
1,642
5,720
1,383
338
47
92
337
138
431
2,925
1,616
188
160
469
216
47
26
203
890
486
33
353
18
5,559
448
811
1,802
43
285
100
237
242
641
114
59
266
217
294
17, 452
13, 910
2,545
11,365
0
442
2,934
1,234
1,700
0
166
5
39, 521
2,252
2,118
90
20
24
829
89
73
388
206
73
1,136
15, 189
1,431
102
1,164
1,021
524
402
394
570
776
207
234
357
381
2,072
457
1,331
925
2,044
308
489
7, 630
1,729
5,901
1,412
345
52
95
346
143
431
3,005
1,628
189
168
478
260
53
25
204
914
500
36
359
19
5,528
444
826
1,753
26
304
102
238
244
630
112
66
268
219
296
17, 357
13, 748
2,446
11, 302
0
464
2,979
1,245
1,734
0
166
5
37, 895
2,297
2,148
104
21
24
873
89
82
391
222
89
1,752
14, 527
1. 503
102
1, 306
1,117
620
483
447
669
705
220
259
409
474
1,686
495
1,358
842
672
620
540
9,158
2,066
7,092
1,629
376
64
113
402
178
496
3,009
1,564
203
203
539
210
81
27
182
1,105
613
40
430
22
5,842
494
949
1,642
30
370
134
254
292
646
130
83
276
218
324
9,209
5,299
• 1, 865
3,434
0
495
3,236
1,353
1,883
0
179
3
40, 192
2,369
2,227
95
22
25
937
100
78
432
233
94
2,068
15, 306
1,523
103
1,340
1,151
700
520
463
707
689
237
265
411
503
1,850
521
1,524
921
606
721
551
9,481
2,246
7,235
1,655
392
60
122
435
179
467
2,992
1,543
201
207
545
188
85
28
195
1,178
641
44
470
23
6,076
483
956
1,788
36
392
132
251
281
707
136
93
284
217
320
7,224
3,043
1,464
1,579
0
493
3,495
1,459
2,036
0
193
2
42, 062
983
940
1,952
1,300
2,167
2,499
2,458
2,525
2,535
2,601 •
2,089
2,603
2,517
2,044
1,580
1,681
1,788
1,566
1,892
2, 254
2,376
2,608
3,046
2,699
1,831
2,174
2,781
2,724
2,975
2,578
3,188
3,103
2, 325
1,966
2,670
1,743
2,210
2,256
4,179
2,772
2,500
2,513
1,550
2,678
2,709
2,468
2,446
2,374
3,624
2,743
3,092
2,331
2,248
2,035
3,333
2,467
1,889
1,518
1,378
1,513
1,079
2,714
2,735
2,975
2,379
1,628
1,206
1,533
3,237
1,579
1,541
2,498
1,962
1,978
2,673
1,822
1,100
1, 057
1,917
1,600
2,417
2,621
2,551
2,685
2,629
2, 762
2,205
2,599
2, 517
2,171
1,676
1,815
1,943
1, 618
1,988
2, 365
2,575
2,670
3,097
2,722
1,966
2,249
2,792
2,735
2,930
2,584
3,175
2,968
2,401
2,138
2,808
1,922
2,371
2,408
5,286
2,914
2.605
2,669
1,647
2,734
2.706
2,619
2,570
2,548
3,583
2,849
3,228
2,403
2,425
2,246
3,515
2,596
2,000
1,670
1,524
1,655
1,236
2,571
2,953
2,950
2,567
1,838
1,333
1,699
3,258
1,642
1,583
2,718
2,091
2,107
2,652
1,989
1, 225
1,181
1,884
1,952
2,667
2,723
2,629
2.890
2,726
2,829
2,382
2.539
2,512
2,385
1,824
2,052
2,194
1,761
2,180
2,528
2,871
2, 762
3, 168
2,842
2,132
2.380
2,696
2,715
2,854
2,618
2,943
2,821
2,433
2,404
3, 063
2.192
2, 592
2, 650
5,245
3,177
2,781
2,912
1, 865
2,949
3,051
2,729
2,653
2,763
3,415
2,832
3,262
2,546
2,566
2,414
3,972
2, 688
2,091
1,871
1,722
1,827
1,328
2,667
3,116
2,887
2,969
2,110
1,529
1,866
3,325
1,794
1,670
3,023
2,348
2,426
2,730
2,260
1,292
1, 247
2,079
1, 955
2,800
3,112
2,970
3,141
3,201
3,176
2, 670
2,840
2,795
2, 675
1, 971
2, 326
2,319
2, 079
2, 450
2, 907
3, 202
3,147
3, 624
3,064
2,302
2,678
3,050
2,919
3,138
2,878
3,120
3,200
2,644
2, 661
3, 381
2, 415
2, 759
2, 859
4,714
3, 375
2, 906
3,108
2. 046
3. 149
3. 198
2. 965
2. H33
3. 086
3, 742
3, 139
3, 588
2,793
2.797
2. 608
3, 925
2. 989
2,174
1, 973
1,842
1,889
1, 379
2, 900
3,207
3,231
3, 022
2,224
1,762
2, 040
3, 505
1, 323
1,307
3, 265
2, 559
2,710
2, t)86
2, i55
2,344
1,795
1,725
1,855
2,369
1,939
1,883
1,986
2,721
2,127
2,108
2,142
2, 763
2, 363
2,255
2,200
2,192
2,405
2,400
2,257
2,590
2,600
2,369
2, 817
2, 900
2, 601
1944
1946
1947
2, 'HO
2, 324
SURVEY OF CUKRENT BUSINESS
July 1948
23
Table 27.—Number of Active Proprietors of Unincorporated Enterprises, by Industry, 1944-47
Table 28.—Number of Persons Engaged in Production, by Industry, 1944-47
Table 29.—Corporate Sales, by Industry, 1944-47
Table 27
Table 28
Table 29
Active proprietors (data in thousands)
Persons engaged (data in thousands)
Corporate sales (millions of dollars)
1944
All industries, total
Agriculture, forestry and fisheries
Farms _ _ _ _ _
_._.
_ _ _ _ _
Agricultural and similar service establishments
Forestry. __
_
_
Fisheries
Mining
Metal mining
__
Anthracite mining
_
Bituminous and other soft coal
Crude petroleum and natural gas
Nonmetallic mining
Contract construction
_
Manufacturing
Food and kindred products
Tobacco manufactures
_
Textile-mill products.
_
Apparel and other finished fabric products
Lumber and timber basic products
Furniture and finished lumber products _
_ _ _ __
Paper and allied products
Printing and publishing
_
Chemicals and allied products
Products of petroleum and coal
_ _ _ _
Rubber products
Leather and leather products
_
Stone, clay, and elass products
Iron and steel and their products
_
Nonferrous metals and their products
- Machinery (except electrical)
Electrical machinery
- Transportation equipment except automobiles
Automobiles and automobile equipment
Miscellaneous
Wholesale and retail trade
- Wholesale trade
Retail trade and automobile services
Finance, insurance, and real estate- _ _
Banking
Security and commodity brokers, dealers and exchanges...
Finance, n. e. c
__
Insurance carriers
.
Insurance agents and combination offices- __
Real estate
Transportation
Railroads
Local railways and bus lines
_ __
Highway passenger transportation
Highway freight transportation
Water transportation
Air transport (common carriers)
Pipe-line transportation
Services allied to transportation
Communications and public utilities
Telephone and telegraph
Radio broadcasting
Utilities' electric and gas
Local public services, n e e
Services
Hotels and lodging places
Personal services
Private households
__
_ _
_ _
Commercial and trade schools and employment agencies. _
Business services, n e. c
Miscellaneous repair services and hand trades
Motion pictures. _
____
__
Amusement and recreation, except motion pictures...
Medical and health services ._
Legal services _ _ _
Engineering and other professional services, n. e. c
Educational services, n. e. c
Religious organizations. _
__
Nonprofit organizations, n. e. c._
Government and government enterprises
Federal— general government
Federal —government enterprises _ __
State and local — general government
State and local — government enterprises
Rest of the world
__
Addendum: All private industries
__
i Excludes finance, insurance, and real estate.
9,098
1945
9,313
1944
1945
1946
1947
1946
1947
1944
1945
1946
1947
10, 110
10, 760
64, 211
62, 648
57, 345
57, 831 i 246, 737 i 239, 512 i 253, 104
i 319, 541
7,298
6,995
220
23
60
913
103
83
400
232
95
2,448
14, 691
1,545
103
1,309
1,141
637
492
448
689
709
220
259
412
482
1,691
502
1,359
851
673
621
548
10, 448
2,174
8,274
1,836
374
73
101
392
331
565
3,070
1,564
204
228
597
203
81
27
166
1,105
614
37
430
24
6,724
581
1,312
1,472
26
399
385
236
264
922
249
135
330
197
216
8,809
5,299
495
2,854
161
3
48, 533
7,562
7,242
234
24
62
978
114
79
441
244
100
2,888
15, 484
1,567
104
1,343
1,177
720
530
464
727
694
237
265
414
513
1,855
529
1,526
931
607
722
559
10, 938
2,367
8,571
1,874
390
69
109
424
343
539
3,066
1,543
202
234
616
181
85
28
177
1,178
642
41
470
25
7,051
580
1,349
1.603
32
429
418
233
259
998
259
146
337
197
211
6,810
3,043
493
3,099
175
2
51, 019
879
841
931
885
1,054
1,008
1,128
1,081
16
22
3,875
744
378
1,573
821
359
3,101
150, 960
23, 806
2,148
7,718
3,957
1,608
1,998
3,473
3,449
9,822
9, 853
3,332
2,150
2,290
20, 837
4,379
11,012
8,012
24, 622
3,715
2,779
61,023
32, 311
28, 712
14
32
3,789
712
354
1,509
857
357
2,869
138, 725
23, 951
2,243
7,690
4,001
1,423
2,005
3,565
3,804
9,834
10, 007
3,366
2,201
2,322
18, 495
3,969
9,801
7,070
17, 141
3,092
2,745
65, 905
34, 746
31,159
14
32
4,218
654
436
1,657
1,057
414
4,389
129, 090
26, 523
2,921
9,421
5,417
1,762
2,584
4,414
4,691
10, 560
10, 238
3,209
2,458
2, 915
15, 093
3,916
7,332
4,485
2,274
6,146
2,731
85, 920
44, 648
41,272
14
33
5,882
981
537
2,348
1,481
535
5,836
176, 630
35, 884
3, 252
12, 366
6,772
2,940
3,295
6,092
5,572
12,883
14, 347
3,658
3,292
3,715
21, 195
6,185
10, 790
7,433
3,307
10, 384
3,268
98, 322
49, 926
48, 396
14, 307
10, 045
612
842
1,188
726
263
252
379
7,310
2,210
307
4,687
106
5,282
966
903
14, 052
9,699
624
861
1,232
670
327
219
420
7,658
2,400
327
4,818
113
5,583
1,035
950
13, 301
8,437
640
879
1,470
714
488
217
456
8,236
2,692
357
5,066
121
6,896
1,249
1,224
15, 296
9,680
642
845
2,058
791
549
240
491
9,082
2,927
378
5,649
128
7,365
1,307
1,283
420
1,045
157
1,483
308
355
1,169
122
1,574
378
427
1,529
160
1,779
528
585
1,682
177
1,790
541
4,929
4,780
111
2
36
37
13
1
8
10
5
462
133
40
0
2
16
13
7
1
19
4
0
0
2
5
4
4
1
7
1
1
6
1,834
128
1,706
273
0
18
5
0
160
90
168
0
0
26
137
2
0
0
3
4
1
1
0
2
1,258
121
376
4,877
4,713
126
2
36
37
13
1
8
10
5
518
143
41
0
3
19
14
7
1
19
4
0
0
2
6
4
5
1
8
1
1
7
1,958
144
1,814
282
0
19
5
0
165
93
176
0
0
27
143
3
0
0
3
4
1
1
0
2
1,318
118
394
5,036
4,847
151
2
36
40
14
1
9
10
6
696
164
42
1
3
24
17
9
1
20
4
0
0
3
8
5
7
1
9
1
1
8
2,209
171
2,038
307
0
20
5
0
184
98
190
0
1
29
154
3
0
0
3
4
1
1
0
2
1,464
121
427
5,225
5,015
171
2
37
41
14
1
9
11
6
820
178
44
1
3
26
20
10
1
20
5
0
0
3
10
5
8
2
10
1
1
8
2,399
190
2,209
320
0
' 20
5
0
195
100
200
0
1
31
162
3
0
0
3
4
1
1
0
2
1,573
130
458
3
71
205
7
25
240
107
50
53
2
80
233
7
26
245
110
50
53
2
89
279
7
28
276
130
52
53
2
100
314
7
31
291
134
53
53
9,098
9,313
10, 110
10, 760
7,263
7,007
174
22
60
916
120
81
423
208
84
1,571
17. 181
1,481
100
1,219
1,065
571
413
391
569
794
197
239
357
391
2,428
496
1,406
1,044
3,176
342
502
8,456
1,720
6,736
1,574
336
57
84
328
275
494
2,978
1,616
188
183
527
207
47
26
184
891
487
31
353
20
6,281
539
1,133
1,616
38
309
284
221
221
881
212
109
319
196
203
17, 095
13, 910
442
2,594
149
5
47, 111
7,099
6,831
186
22
60
866
102
74
396
216
78
1,654
15,332
1,472
102
1, 167
1,040
538
409
395
589
780
207
234
359
387
2,076
462
1,332
933
2,045
309
496
8,819
1,819
7,000
1,608
343
61
86
337
283
498
3,062
1,628
189
192
541
250
53
25
184
915
501
34
359
21
6,307
530
1,164
1,572
23
334
313
222
223
875
213
116
321
199
202
16, 981
13, 748
464
2,621
148
5
45, 662
SUEVEY OF CURRENT BUSINESS
24
July 1948
Table 30.—Personal Consumption Expenditures, by Type of Product, 1944—47
[Millions of dollars]
1946
1947
46, 294
55, 005
61, 796
27, 794
10, 553
34. 895
12, 568
40. 904
12, 886
8,665
864
98
120
10, 020
956
98
131
11,452
1, 103
85
228
11,571
1,108
85
335
223
338
249
387
331
442
429
449
1,426
1,288
1,073
1,091
2,624
2,998
1,627
1,376
1,940
2,080
2,504
2,750
2,509
18, 013
2,020
256
2,869
20, 110
2,294
256
3,411
22, 098
2,820
293
3,880
22, 606
3,012
304
11, 678
13, 211
15, 465
16, 008
1,713
45
1,744
47
495
53
195
56
645
671
766
799
54
462
3
60
484
4
60
563
4
68
636
5
6
16
1,008
107
1,875
963
421
477
14
11, 736
6
17
1,198
118
2,075
1,086
451
523
15
12, 226
6,002
6,472
7,161
7,996
4,611
820
3 Rental value of farm houses (s)
163
4 Transient hotels and tourist cabins (s)
140
5 Clubs schools and institutions (s)
13, 453
V Household operation
1,305
1 Furniture (dc)
553
2 Floor coverings (dc)
3. Refrigerators, and washing and sewing
machines (dc)
4. Miscellaneous electrical appliances except
153
radios (dc)
5 Cooking and portable heating equipment
(dc)
6 China, glassware, tableware, and utensils
(dc)
683
7 Durable house furnishings n. e. c. (dc)
8. Products of custom establishments n. e. c. \ 815
(dc)
9 Writing equipment (dc)
lo! Net purchases from second-hand furniture
and antique dealers (s)
20
11 TJpholstery and furniture repair (s)
76
12! Rug, drapery, and mattress cleaning and
35
repair (s)
13. Care of electrical equipment except radios
73
and of stoves (s)
- 1,360
14 Semidurable house furnishings (ndc)
15 Lighting supplies (ndc)
16. Cleaning and polishing preparations (ndc)-_
692
17. Miscellaneous household paper products
(ndc)
314
18 Stationery and writing supplies (ndc)
2,123
19 Fuel (except ga^) and ice
1 997
d Purchased (ndc)
6. Produced and consumed on farms
126
(ndc)
2,149
20 Household utilities
- 1,123
a Electricity (s)
690
b Gas (s)
- 336
920
21 Telephone (s)
- 22
22 Telegraph cable and wireless (s)
250
23 Postage (s)
36
24 Express charges (s)
148
26. Domestic service (excluding practical
1,669
nurses)
- 1,464
a Cash payments (s)
205
b Value of meals furnished (s)
27. Fire and theft insurance on personal prop29
erty net payments (s)
28. Miscellaneous household operation services
28
(s)
4, 530
889
184
151
14, 824
1,548
543
4,629
978
203
195
18, 646
2,170
843
4,872
1.105
222
234
21, 973
2,337
1,044
317
1,425
2, 565
Group
I. Food and tobacco . . . . _ _
__ _ .
1 . Food purchased for off-premise consumption
(ndc)
2. Purchased meals and beverages
a. Retail, service, and amusement establishments (ndc)
b. Hotels (ndc)
c. Dining and buffet cars (ndc) d. Schools and school fraternities (ndc)__
e. Institutions, clubs, and industrial
lunchrooms (ndc)
/. Tips (ndc)
g. Less: Nonconsumer purchases included in lines a-f (ndc)
3. Food furnished government (including military) and commercial employees, and
withdrawn by nonfarm proprietors (ndc) _ 4. Food produced and consumed on farms
(ndc) ..
5. Tobacco products and smoking supplies
(ndc)_II. Clothing accessories and jewelry
1 Shoes and other footwear (ndc)
2 Shoe cleaning and repair (s)
3. Clothing and accessories except footwear
(ndc)
'
3
4. Standard clothing issued to military personnel (ndc)
5. Fur storage and repair (s)
6. Cleaning, dyeing, pressing, alteration, storage, and repair of garments n. e. c. (in
shops) (s)
7. Dressmakers and seamstresses (not in shops)
(s)
8. Laundering in establishments (s)
9. Costume and dress suit rental (s)
10. Net purchases from second-hand clothing
dealers (s)
11. Miscellaneous personal services (s) _..
12. Jewelry and watches (dc)
13 Watch, clock, and jewelry repairs (s)
III. Personal care
1. Toilet articles and preparations (ndc)
2 Barber shop services (s)
3 Beauty parlor services (s)
4 Baths and masseurs (s)
IV. Housing
-- - 1. Owner-occupied nonfarm dwellings— spacerental value (s)
2. Tenant-occupied nonfarm dwellings (inciud-
1944
1945
41, 801
25. 846
8,882
864
8
7
19
20
1,365
1,415
131
137
2,264
2,371
1,113
1,160
567
627 [ 1, 151
17
14, 429
13, 166
1,353
1, 458
937
1,274
1, 307
20
80
20
90
21
106
36
41
43
86
1,390
116
1,792
134
1,815
648
744
1,152
363
2,225
2,103
379
2,378
2,246
390
2,901
2,711
122
2,269
1,191
731
347
1,070
23
278
39
168
132
2,383
1,266
757
360
1,229
24
199
42
201
190
2,624
1,399
854
371
1,370
26
205
43
237
1,861
1,657
204
1,872
1,653
219
2,116
1,826
290
31
42
50
28
29
29
Group
VI. Medical care and death expenses
_ . _.
1 Drug preparations and sundries (ndc) __
2. Ophthalmic products and orthopedic appliances (dc)
- - 3 Physicians (s)
4 Dentists (s)
5 Osteopathic physicians (s)
6 Chiropractors (s)
- 7 Chiropodists and podiatrists (s)
8 Private-duty trained nurses (s)
9 Practical nurses and mid wives (s)
_ _
10. Miscellaneous curative and healing professions (s)
11. Privately controlled hospitals and sanitariums (s)
12. Net payments to group hospitalization and
health associations (s)
13 Student fees for medical care (s)
14. Accident and health insurance—net payments (s)
-15. Mutual accident and sick benefit associations net payments (s)
16 Funeral and burial service (s)
17 Cemeteries and crematories (s)
18 M^onuments and tombstones (dc)
VII Personal business
-- 1. Miners' expenditures for explosives, lamps,
and smithing (ndc)
2 Tools (dc)
3 Theatrical employment agency fees (s)
4. Nontheatrical employment agency fees (s) _ _
5 Net payments to labor unions (s)
-6. Employees' dues and fees to professional
associations (s)
-7. Brokerage charges and interest, and investment counseling (s)
8 Trust services of banks (s)
- 9. Bank service charges for deposit accounts,
check collection, and foreign exchange (s) _
10 Safety-deposit box rental (s)
\\ M^oney -order fees (s)
-12. Services furnished without payment by
financial intermediaries except insurance
companies (s)
13 Expense of handling life insurance
a Life insurance companies (s)
b. Fraternal and assessment associations
1947
1944
1945
1946
5, 576
1,072
5,941
1,150
6,724
1,299
7,415
1, 355
321
1,333
708
79
51
25
75
74
337
1, 366
729
81
54
25
79
82
383
1,500
811
89
58
27
87
83
383
1,650
907
98
<>3
30
96
5)4
26
26
28
799
893
1,084
:n
i, 3:13
44
2
45
2
57
3
<>7
3
211
250
297
342
41
417
176
122
4,523
48
464
177
133
4,850
48
517
185
168
5,495
->0
526
201
181
6, 022
11
57
20
9
250
10
67
20
11
229
11
103
27
15
199
123
26
10
2,'l>
:i4
6
7
7
8
211
58
301
62
275
72
227
74
103
35
36
106
39
33
107
42
29
107
45
29
1,186
1,400
1,336
1,325
1,424
1,353
1,483
1,676
1,589
1, 517
1, 833
1,731
87
71
64
(S)
761
617
670
14 Legal services (s)
-449
598
468
15 Interest on personal debt (s)
42
34
33
16 Classified advertisements (s)
17. Net purchases from pawnbrokers and mis
19
17
18
cellaneous second-hand stores (s)
29
26
25
18 Personal business services n e e . (s)
5,585
6,420 11, 798
VIII Transportation
8,541
2,661
3,426
1 User-operated transportation
a. New cars and net purchases of used
352
2,998
429
cars (dc)
b Tires and tubes (dc)
1,487
j426
615
c Parts and accessories (dc)
d. Automobile repair, greasing, washing,
814
562
496
parking, storage, and rental (s)
1,206
2,950
1,616
e. Gasoline and oil (ndc) _ -_
/. Bridge, tunnel, ferry, and road tolls
59
35
43
(s)
g. Automobile insurance —net payments
146
(S)
233
161
1,751
1, 730
1,953
2. Purchased local transportation
- a. Street and electric railway and local
1,314
1,330
bus (s)
-- 1,297
370
554
372
b Taxicab —fares and tips (s)
57
63
59
c Steam railway — commutation (s)
6
6
6
d. Ferry —foot passengers (s)
1,098
1,108
1,077
3. Purchased intercity transportation.
a. Steam railway (excluding commuta626*
585
642
tion) (s)
b. Sleeping and parlor car—fares and
50
45
46
tips (s)
337
336
335
c Intercity bus (s)
32
104
54
d Air line (s)
18
20
e. Coastal and inland waterway (s)
20
/. Baggage transfer, carriage, storage,
12
9
12
and excess charges (s)
135
117
206
4. Luggage (dc)
- IX. Recreation
_.
_ _
_ 5,314 6,021 8,625
1. Admissions to specified spectator amuse1,406
1,837
1, 531
ments
_
1,175
1,259
1,427
a. Motion-picture theaters (s) . .
82
91
80
6. Legitimate theaters and opera (s)
c. Entertainments of nonprofit organi54
68
48
zations, except athletics (s)
._
17
23
57
d Professional baseball (s).._
3
4
12
e. Professional football (s)
4
6
7
/. Professional hockey (s)
14
22
40
g Horse and dog race tracks (s)
32
44
78
h College football (s)
25
47
30
i. Other amateur spectator sports (s) . _ .
j. Ticket brokers' mark-up on admis5
4
6
sions (s)
_ __
3
2
5
k Purchase of programs (s)
131
263
153
2. Pari-mutuel net receipts (s)_
3. Non vending coin machines —receipts minus
121
128
147
pay-off (s)
102
817
837
47
20
32
15, 467
12, 171
5. 5:12
1, 685
905
3, 601
1:3
3io
2,012
1,327
614
65
6
1,053
557
47
312
1!7
21
9
221
9, 3»50
1,832
1. 380
' 103
;-o
(18
j.3
41
«S8
,>2
4
6
238
154
SURVEY OF CUKEENT BUSINESS
July 1948
25
Table 30.—Personal Consumption Expenditures by Type of Product, 1944-47—Continued
Group
1944
IX. Recreation — Continued
4. Specified commercial participant amuse224
ments
a. Billiard parlors and bowling alleys
(s)
83
6. Dancing, riding, shooting, skating,
48
and swimming places (s)
22
c. Amusement devices and parks (s)
20
d. Daily fee golf courses — greens fees (s) _ _
e. Golf instruction, club rental, and
48
caddy fees (s)
1
/. Sightseeing busses and guides (s)
2
q Private flying operations (s)
2, 653
5. Informal recreation
___
442
a. Books and maps (dc)
&. Magazines, newspapers, and sheet
821
music (ndc)
6
c Book rental and repair (s)
d. Nondurable toys and sport supplies
486
(ndc)
e. Wheel goods, durable toys, and sport
270
equipment (dc)
10
f Boats and pleasure aircraft (dc)
g. Boat and bicycle rental, storage, and
9
repair (s)
h. Radios, phonographs, parts, and
records (dc)
i 256
i. Pianos and other musical instruments
(dc)
70
j. Radio repair (s) _
__
52
k. Photo developing and printing (s)
172
I Photographic studios (s)
m. Collectors' net acquisitions of stamps
10
and coins (s)
n. Hunting dog purchase and training,
12
and sports guide service (s)
o. Veterinary service arid purchase of
37
pets (s)
391
6. Flowers, seeds, and potted plants (ndc)
29
7 Camp fees (s)
250
8 Clubs
_ -78
a. Athletic and social— dues and fees (s) _
11
b. School fraternities— dues and fees (s)_
1945
1946
1947
258
340
363
87
112
118
56
25
22
76
32
29
80
34
31
61
4
3
3,042
524
81
5
5
4,878
618
87
6
5,523
611
889
7
999
8
1,111
8
595
925
1,008
329
12
609
64
713
65
11
14
15
266
1,126
1,393
84
61
201
114
76
252
131
90
298
10
10
10
15
22
24
38
458
31
298
104
13
41
577
38
373
137
21
46
627
39
403
149
26
Table 31.—New Construction Activity, by Type, 1944-47
Group
1945
1944
1946
IX. Recreation— Continued
8. Clubs— Continued
c. Fraternal, patriotic, and women's
organizations except school and
201
170
insurance— net payments (s)_. _ _ _
151
11
14
d Luncheon clubs (s)
10
172
122
109
9. Commercial amusements n. e. c. (s) X Private education and research
863
1,027
927
362
471
1. Higher education (s)
. .
372
2 Elementary and secondary schools (s)
246
271
244
3. Commercial, business, and trade schools62
fees (s)
70
151
22
25
4. Correspondence schools— fees (s)
22
109
142
5. Other instruction (except athletics)— fees (s)_
84
6. Foundation expenditures for education and
research (s)
54
56
54
1,619
1,610
XI. Religious and welfare activities
__
1,594
1 Religious bodies (s)
783
816
750
2. Social welfare and foreign relief agencies (s)__
738
793
775
3 Museums and libraries (s)
16
17
16
4. Foundation expenditures (except education
and research) (s)
19
18
18
5. Political organizations (s)
9
20
35
XII Foreign travel and remittances— net
1,587
798
1,004
1. Foreign travel and remittances by United
States residents
1,884
1,201
1,218
a. Payments to United States vessels
(s)
5
38
3
b. Other foreign travel expenditures (s).
229
390
172
c. Expenditures by United States Government personnel (military and
civilian) (ndc)
479
1,394
822
d. Personal cash remittances to foreign
countries (s)
294
221
256
2. Less: Expenditures and remittances by foreigners
214
403
297
a . E xpenditures in the United States (s) _
169
279
203
b. Personal cash remittances to the
United States (s)
124
45
94
Total personal consumption expenditures
111,401 122, 830 147, 363
Durable commodities
„.
6,890
8,254 16, 242
Nondurable commodities
67,473 75, 367 87,478
Services
37, 038 39, 209 43,643
1947
211
17
181
1,086
509
279
62
27
152
57
1,615
884
685
17
20
9
722
1,226
67
526
389
244
504
359
145
164, 755
20, 963
96, 487
47,305
Table 33.—Net Change in Business Inventories, 1944-47
[Millions of Dollars]
[Millions of dollars]
1946
1947
1944
1945
4,136
4,808
10, 458
13, 977
1,823
2,716
8,253
3,183
10, 893
5,260
350
208
59
46
37
725
213
136
77
1,014
3, 346
1,689
1,162
3,131
1,702
1944
Total new construction activity
New private construction activity
Residential (nonfarm)
Nonresidential building, except farm and public
utility
Industrial
Commercial
Institutional
Other
Public utility
Farm construction
_
_
__
_. _ _
__
Residential
- Nonresidential
New public construction activitv _
_
__ _
Residential
Nonresidential building
_ ._
__
Industrial
Institutional
Public Administration
Other
_
Military and naval
- Highway
All other
535
2,313
190
638
507
99
11
21
837
346
302
684
642
210
88
74
827
191
116
75
2,092
71
652
470
144
15
23
690
386
293
268
227
1,374
350
212
138
2,205
369
325
84
186
16
39
188
772
551
878
389
162
2,052
450
250
200
3,084
182
505
25
356
41
83
204
1,233
960
Table 32.—Producers' Durable Equipment, 1944-45
Net change in business inventories, total
Farm Nonfarm
Net change in nonfarm inventories
Corporate
Noncorporate,
-.
Change in book value
Corporate . _. .
Noncorporate
Inventory valuation adjustment
Corporate
_ Noncorporate
Net change in nonfarm inventories by industrial
groups.-- - _ _ Manufacturing
Change in book value
Inventory valuation adjustment
Wholesale trade
Change in book value _ _
Inventory valuation adjustment
Retail trade
Change in book value
_._
Inventory valuation adjustment
Allother- ...
Change in book value
Inventory valuation adjustment
1945
1946
-1,354
—549
—805
—805
—1 076
271
—460
—782
322
—345
—294
—51
-1,342
—361
—981
—981
— 1 075
94
—306
—462
156
—675
—613
—62
4,771
—261
5 032
5 032
3 983
1 049
11 439
9,011
2 428
—6, 407
—5 028
— 1 379
—2 125
2 743
2 743
2 172
'571
8 986
7,247
1 739
—6, 243
—5 075
— 1 168
—805
—964
—750
-214
80
109
—29
45
118
-73
34
63
-29
—981
— 1,695
— 1 199
-496
5 032
2,343
5,506
-3, 163
2 743
1,331
4 744
-3, 413
457
530
—73
76
138
—62
181
225
—44
522
1,607
—1,085
1 921
3,714
—1, 793
246
612
—366
1947
618
735
1,722
—987
598
1,952
— 1,354
79
568
—489
[Millions of dollars]
1944
1945
Table 34.—Supplements to Wages and Salaries, 1944-47
[Millions of dollars]
To to.1 producers' durable equipment
Special industry machinery
Alining machinery
Construction machinery
Metal working machinery
_
_ _
Pumps and pumping equipment
General and miscellaneous machinery and equipment
Engines and turbines
_
Farm machinery and equipment
Tractors
- - Electrical apparatus and equipment
Office machinery
Nonresidential furniture and equipment
Professional and scientific equipment
Tools
__
-.
Durable containers
Miscellaneous subsidiary durable equipment
_ .__ ___
Business motor vehicles
Railroad and transit equipment
Ships and boats
._ _
_
._
Aircraft
Less: Government purchases, not allocable
- _
._
794877—48
4
5 402
7,272
716
168
180
170
239
478
73
629
316
635
174
282
134
178
182
139
335
385
170
0
181
853
204
254
325
314
676
91
767
389
724
234
348
145
160
220
234
839
378
178
12
73
1944
Total supplements to wages and salaries
Employer contributions for social insurance
Old-age and survivors insurance
State unemployment insurance
Federal unemployment tax _ _
Railroad retirement insurance
Railroad unemployment insurance
Federal civilian employee retirement systems
State and local employee retirement systems
Government life insurance
Other labor income
Compensation for injuries
___ _
Employer contributions to private pension and welfare funds _ _
Pay of military reservists
Other
1945
1946
1947
4,237
5,352
5,584
5 342
2,935
648
1 177
184
140
129
190
212
255
1 302
443
3,803
630
1 Oil
174
140
130
225
225
1 268
1 549
478
3,951
3 520
724
1
134
881
5
185
974
27
136
686
893
184
163
139
238
235
1 413
1 633
496
779
1 029
210
271
143
239
250
599
1 822
526
1,064
141
91
SUKVEY OF CURRENT BUSINESS
26
Table 35.—Employee Contributions for Social Insurance, 1944-47
[Millions of dollars]
July 1948
Table 38.—Reconciliation of Department- of Commerce Estimates
of Corporate Profits with Bureau of Internal Revenue Tabulations,
1944-45
[Millions of dollars]
1944
1945
1946
1947
2,334
1,986
2,068
630
85
140
295
150
4
1,030
686
44
163
263
165
48
617
779
33
271
246
180
56
503
1944
Total employee contributions for social insurance. . 2,236
Old-age and survivors insurance
State unemployment insurance
Railroad retirement insurance .
Federal civilian employee retirement systems
State and local employee retirement systems
Cash sickness compensation funds
Government life insurance
...
648
90
140
282
139
5
932
Table 36.—Transfer Payments, 1944r-47
[Millions of dollars]
1944
Total transfer payments
1945
1946
1947
3,627
Federal government _
_ _ _ . . __
Benefits from social insurance funds
Old-age and survivors insurance benefits
State unemployment insurance benefits
Railroad retirement insurance benefits
Railroad unemployment insurance benefits
Federal civilian pensions. _
Government life insurance benefits
Direct relief
Military pension, disability, and retirement payments
Adjusted compensation benefits
Mustering-out payments to discharged servicemen
and terminal leave benefits
Readjustment, self-employment, and subsistence allowances to veterans *
Other 2
.
-.State and local government
Benefits from social insurance funds...
Government pensions
C ash sickness compensation.
__
Direct relief
Special types of public assistance .
General assistance
Other
Business
Corporate gifts to nonprofit institutions
Consumer bad debts
Other
..
6,150
11,413
11, 676
1,838
664
218
62
137
1
130
116
4,300
1,336
287
446
146
2
183
272
9,210
2,357
387
1,095
159
40
348
328
8,864
2,140
479
775
214
39
281
352
648
7
1,013
189
1,689
18
2,180
6
230
1,403
2,131
1,578
5
284
1,244
223
218
5
942
853
89
79
545
234
165
146
142
217
1,318
233
228
5
988
901
87
97
532
266
149
117
2,781
234
1,625
245
240
5
1,177
1,057
120
203
578
266
149
163
2,605
355
2,200
277
255
22
1,478
1,314
164
445
612
266
149
197
Compiled net profit, Bureau of Internal Revenue
Plus depletion, Bureau of Internal Revenue
Plus net capital loss, Bureau of Internal Revenue
Plus net loss, sales of property, other than capital assets, Bureau of
Internal Revenue
Less net capital gain, Bureau of Internal Revenue
Less net gain, sales of property, other than capital assets, Bureau of
Internal Revenue
Less domestic dividends received, Bureau of Internal Revenue
Less foreign dividends received, Bureau of Internal Revenue
Plus "rest of the world" industry, Commerce
Plus profits disclosed by audit, Commerce
Less profits of mutual life insurance companies based on Bureau of
Internal Revenue
Less profits of mutual nonlife insurance companies, Bureau of Internal
Revenue
Less foreign income tax on branch profits, Commerce
Plus State income taxes, Commerce
Plus profits of Federal Reserve banks, Federal Reserve Board
Less gross renegotiation refunds, Bureau of Internal Revenue
Less emergency amortization acceleration, Commerce
Plus war losses, Commerce
Profits before taxes, Department of Commerce
Less Federal income taxes, Bureau of Internal Revenue
Less State income taxes, Commerce
Less taxes resulting from audit, Commerce
Plus tax refunds resulting from renegotiation, Bureau of Internal
Revenue
Plus tax refunds resulting from emergency amortization acceleration,
Commerce
Less income taxes, Federal Reserve banks, Federal Reserve Board
Plus taxes paid by mutual nonlife insurance companies, Bureau of
Internal Revenue
Less unjust enrichment tax, Commerce
Less excess profits tax, Vinson Act, Commerce
Plus foreign income tax on dividend income, Commerce
Plus foreign income tax on branch profits, Commerce
Plus carry-back tax refund, Commerce
Profits after taxes, Department of Commerce
1945
26, 546
712
21,345
693
504
428
464
923
140
1,429
145
96
1,670
182
1,419
184
17
1, 640
1,118
1,206
16
43
18
44
459
55
447
94
1,478
912
385
24,333
14,884
459
1,020
20,389
10,78,5
447
8S7
1,106
255
50
43
934
10,8
52
44
139
8,748
Table 39.—Major Items of Personal Income and Personal Consumption Expenditures in Kind, 1944—47
[Millions of dollars]
1947
1944
1 In 1946-47, includes interest on guaranteed loans to veterans.
Includes enemy alien and civilian war assistance.
2
Table 37.—Monetary and Imputed Interest, 1944-47
[Millions of dollars]
1944
Net interest (component of national income)
Originating in private business
Monetary interest paid
Imputed interest paid
Less' Monetary interest received
Less* Imputed interest received
Originating in households and institutions. .
Monetary interest paid
Originating in rest of the world
Monetary interest received from abroad
Less : monetary interest paid to abroad
Personal interest income (component of personal income) Net interest (component of national income)
Net interest paid by government
Monetary interest paid
__
__ _
Less* Monetary interest received
1945
1946
3,144
2,484
4,543
3,450
4,759
750
542
542
118
149
31
5,947
3,144
2,803
3,889
1,086
3,005
2,313
4,589
3,757
5,241
792
562
562
130
168
38
6,670
3,005
3,665
4,916
1,251
3,417
2,559
5,144
4,167
5,772
980
691
691
167
206
39
7,883
3,417
4,466
5,783
1,317
1947
4,293
3,154
6,121
4,546
6,353
1,160
931
931
208
248
40
8,732
4,293
4,439
5,828
1,389
Personal income and consumption expenditures in kind_.
Food furnished Government (including military) and
commercial employees
Standard clothing issued to military personnel
..
Meals furnished domestic servants and nurses
Net rent of owner-occupied farm and nonfarm dwellings
Services furnished without payment by financial
intermediaries except insurance companies _ __
Employees' lodging
Personal income and consumption expenditures partially
in kind
_
Food produced and consumed on farms
Fuel produced and consumed on farms
Personal consumption expenditures in kind not included
in personal income
Depreciation of owner-occupied farm and nonfarm
dwellings
Taxes on owner-occupied farm and nonfarm.dwellings_
Institutional depreciation
1945
1946
8,348
9,062
6,636
6,32
2,402
1,713
214
2,758
1,744
213
1,334
495
229
1,01
19
30
2,715
2,897
2,976
3,17
1,186
118
1,325
125
1,483
119
1,51
12
2,066
1,940
126
2,202
2,080
122
2,636
2,504
132
2,94
2,75
19
2,610
2,799
2,922
3,26
1,331
1,079
200
1,405
1,191
203
1,513
1,203
206
1,65
1,39
20
SURVEY OF CURRENT BUSINESS
July 1948
27
Table 40.—National Income by Distributive Shares, Quarterly, 1944-47
[Billions of dollars]
1945
1944
I
National income
_ .
Compensation of employees
_
Wages and salaries
Private
_
Military
Government civilian. __
Supplements to wages and salaries
Proprietors' and rental income
.
Business and professional .
Farm
Rental income of persons
Corporate profits and inventory • valuation adjustment
Corporate profits before tax
Corporate profits tax liability
Inventory valuation adjustment.
Net interest
Addendum: Compensation of general government
employees
II
44.6 45.7
29.2 30.0
28.2 29.0
20.3 20.6
4.6
5.1
3.2
3.3
1.0
1.1
8.4
8.6
3.7
3.8
3.1
3.0
16 17
III
IV
Year
I
II
45.7
30.5
29.4
21.0
5.4
3.0
1.1
8.4
3.9
2.8
17
46.5
31.4
30.3
21.3
5.6
3.3
1.1
8.7
4.0
3.0
17
182. 4
121.1
116.9
83.3
20.7
12.8
4.2
34.1
15.4
11.9
67
47.3
31.5
30.3
21.2
5.8
3.3
1.3
9.1
4.1
3.3
18
47.7
31.8
30.4
21.2
5.9
3.4
1.4
9.0
4.1
3.1
1.8
5.6
5.7
3.2
2. 5
.0
8
24.0
24.3
13.5
6.0
6.1
3.4
6.1
6.3
3.5
4.2
4.4
2.5
-.3
31
-.1
7
-.1
7
8.8
32.9
9.1
93
6.1
6.2
3.4
6.2
6.3
3.5
—.1
8
—.1
8
6.0
6.1
3.4
2. 7
.0
8
7.7
8.2
8.2
III
1946
IV
Year
I
II
III
44.3 42.4 181.7
30.6 29.0 122.9
29.2 27.7 117.6
20.2 19.5 82.0
5.9
4.9 22.5
3.1
3.2 13.0
1.4
1.4
5.4
8.8
9.1 36.0
4.4 16.8
4.2
2.9
3.0 12.3
17 17 7 0
41.5
27.4
26.0
20.0
2.9
3.1
1.4
9.8
4.7
3.4
17
44.0
28.8
27.4
22.1
1.9
3.3
1.4
9.8
4.9
3.3
1.6
45.5
29.9
28.5
23.9
1.6
3.0
1.4
10.7
5.3
3.8
1.7
3.4
3.6
2.2
19.8
20.4
11.6
3.5
3.8
1.7
4.5
5.1
2.1
3.9
5.9
2.4
-.2
7
-.2
8
-.6
30
-.3
8
9.2
8.3
35.9
6.1
1947
Year
I
II
III
IV
Year
48.4 179.3
31.1 117.3
29.8 111.7
25.0 91.0
7.8
1.3
3.5 12.9
1.3
5.6
11.4 41.8
5.6 20.4
4.1 14.6
1.7
6.7
48.8
30.7
29.3
24.6
1.1
3.6
1.5
11.6
5.6
4.2
1.8
49.9
31.4
29.9
25.7
1.0
3.2
1.4
11.2
5.7
3.7
1.7
50.2
32.0
30.7
26.7
.9
3.1
1.3
11.1
5.7
3. 6
1.8
53.6
33.4
32.2
27.7
.9
3.6
1.2
12.2
6.2
4.1
1.9
202.5
127.5
122.2
104.7
16.8
21.8
9.0
5.4
7.2
2.9
6.3
7.2
2.8
6.1
7.3
2.8
6.9
8.1
3.2
24.7
29.8
11.7
-.9 -1.2 -1.2
1. 1
1.1
1.1
-5.1
IV
4.9
7.0
2.8
-.6 -2.0 -2.1 -5.0 -1.8
9
9 34
8
1.0
5.4
4.6
4.7
20.9
4.4
4.4
3.8
3.9
13.6
5.3
46.0
23.2
15.6
7.1
4.3
4.2
16.8
Year
Table 41.—National Income by Distributive Shares, Seasonally Adjusted Quarterly Totals at Annual Rates, 1944—47
[Billions of dollars]
1945
1944
I
II
III
IV
Year
179.9 182.1 182.7 184.9 182.4
National income _ _ _ . .
Compensation of employees
118.0 119.8 122.3 124.4 121. 1
Wages and salaries
114 1 115.6 117 9 119 9 116 9
Private
82.8 82.6 83.4 84.5
Military
18.6 20.2 21.5 22.5 20.7
Government civilian. __
12.7 12.8 13.0 12.9 12.8
Supplements to wages and salaries
4.2
4.4
4.2
3.9
4.5
Proprietors' and rental income
33.7 34.4 33.5 34.8 34.1
Business and professional
15.0 15.2 15.5 16. 1 15.4
Farm
12 2 12.4 11.3 11.8 11.9
Rental income of persons
6.9
6.6
6.7
6.7
6.7
Corporate profits and inventory valuation adjustment
25.0 24.7 23.8 22.7 24.0
Corporate profits before tax _
_ 25.4 25.1 23.9 22.9 24.3
14.1 14.0 13.3 12.8 13.5
Corporate profits tax liability
C orporate profits after tax
_ _ 11.3 11.2 10.6 10.1 10.8
— 4 —.4
.2 — . 2 —.3
Inventory valuation adjustment
3.2
3.2
3.0
3.1
3.1
Net interest
__- - _
_
Addendum: Compensation of general government
30.4 32.3 33.9 35.0 32.9
employees
00
0
I
II
III
1947
1946
IV
Year
I
II
III
IV
Year
I
190.9 190.1 177.8 168.0 181.7 167.9 175.0 182.1 192.0 179.3 197.3
127.3 126.8 122.6 114.7 122.9 111.5 114.6 119.9 123.0 117.3 125. 0
122.4 121.4 117.2 109.0 117.6 105.8 108.9 114.4 117.5 111.7 119.3
86.3 84.8 80.0 77. 1 82.0 81.8 88.4 94.8 98.7 91.0 101.7
6.4
5.3
4.3
23.0 23.6 23.8 19.5 22.5 11.6
7.8
7.8
13.1 13.1 13.5 12.4 13.0 12.4 12.7 13.2 13.5 12.9 13.3
5.4
5.0
5.4
5.7
5.4
5.5
5.5
5.6
5.7
5.7
5.7
36.4 36.1 35.1 36.6 36.0 39.1 39.4 42.9 45.6 41.8 4614
16.3 16.6 16.7 17.6 16.8 18.7 19.6 21.1 22.4 20.4 22.5
13.0 12.5 11.5 12.1 12.3 13.6 13 2 15.2 16.4 14.6 16.9
7.0
6.9
7.0
7.0
7.1 7.0
6.6
6.6
6.7
6.8
6.8
II
III
IV
199.3
125.3
119.6
102.3
3.9
13.4
5.7
44.6
22.7
14.9
7.0
200.6
127.6
122 5
105.3
3.7
13.5
5.1
44.4
23.0
14 3
7.1
212.8
132.2
127 1
109.5
36
14.0
50
48.6
24.7
16 5
7.4
202. 5
127 5
122 2
104 7
39
13. 6
53
46.0
23 2
15 67.1
24.2
24.7
14.2
10.5
—.6
3.0
24.2
24.8
14.3
10.6
—.6
3.0
17.0
17.6
10.1
7.6
—.6
3.0
13.7
14.4
8.0
6.3
—.7
3.1
19.8 14.1 17.8 15.8 19.6 16.8 21.8 25.2 24.3 27.5 24.7
20.4 15.3 20.3 23.7 28.0 21.8 28.9 28.8 29.1 32.4 29.8.
11.6
9.0 11.4 11.3 11.4 12.7 11.7
6. 3 8.3 9.8 11.6
9.0 12.0 13.9 16.5 12.8 17.5 17.5 17.7 19.7 18.1
8.7
—.6 — 1.2 —2.6 —7.9 —8.5 —5.0 —7.1 — 3. 6 —4 8 —4 9 —5 1
3.0
3.4
4.1 4.2
3.1 3.3
3.5
4.4
3.8
4.5
4.3:
36.0
37.0
37.8
32.6
35.8
24.3
20.9
19.6
18.6
20.8
17.4
17.0
16.2
16.5
16. 8
Table 42.—Gross National Product or Expenditure, Quarterly, 1944-47
[Billions of dollars]
1944
I
Gross national product _ _
Personal consumption expenditures
Durable goods
.
Nondurable goods
- - _
Services
Gross private domestic investment
New construction _
__.
Residential nonfarm
Other
Producers' durable equipment - - _ . „
Change in business inventories — total. .
Nonfarm only
N e t foreign investment
_ _ _ _ . __ _ _ _ _
Government purchases of goods and services
Federal
_
War
Nonwar
_-Less* Government sales
State and local
_ _
II
50.6
25 5
1.4
15.0
90
2.1
.5
.1
3
1.2
.4
.6
-.7
23 8
21.9
21 9
.3
3
1.9
51.8
27 1
1.6
16.2
9 3
1.3
.6
.1
5
1.4
-.7
—.5
-.7
24 2
22.2
22 1
.4
3
2.0
III
1946
1945
IV
Year
53.6 56 2 212 2
27 6 31 2 111 4
2.3
1.6
6.9
16.8 19.4 67.5
9 3 9 5 37 0
6.4
2.2
.8
2.3
.7
.6
.1
.1
5
5
6
18
1.4
1.5
5.4
.2 -1.2 -1.4
.3 — 1 2 — 8
-.3 — . 4 -2.1
24 0 24 6 96 5
22.3 22.6 89.0
22 2 22 5 88 6
.4
.5
1.6
3
3
12
7.5
1.7
2.0
I
II
54.3
28 5
1.6
17.2
9 7
1.8
.5
.1
4
1.5
-.2
— .1
—.7
24.7
22.7
22 7
.3
3
2.0
55.0
29 3
1.8
17.8
9 8
2.0
.7
.1
6
1.6
-.4
-.3
-.7 •
24.4
22.4
22 4
.3
3
2.0
III
IV
Year
52.9 51.2 213.4
30 1 34 9 122 8
8.3
3.0
1.8
18.5 21.9 75 4
9 8 10 0 39 2
3.2
2.2
9.2
.9
1.1 3.3
7
3
.2
7
8 26
2.2
7.3
1.9
.4 -1.1 -1.3
.5 — 1 1 — 1 0
-.3
.2 -1.4
19 9 13 9 82 8
18.0 11.7 74.8
18 5 12 3 75 9
.2
.3
1.0
7
8 2 2
2.2
8.0
1.9
I
47.3
32 4
2.7
19 2
10 5
5.4
15
4
10
2.2
1.8
18
.7
88
6.5
70
.3
7
2.2
11
III
50.1 53.7
35 3 37 2
4.2
3.6
20 9 21.9
10 8 11. 1
7.9
6.1
2 1 2.7
7 1.0
14 17
3.1 3.5
.9
1.7
9
1.7
1.3
1.3
7 3
74
4.8
5.0
5 5 4.7
.5
.8
11
6
2.5
2.5
1947
IV
Year
58.2
42.5
5.7
25.4
11.4
7.1
2.6
1.0
16
4.0
.5
.6
1.3
7.3
4.5
4.0
.9
.4
2.8
209.3
147 4
16.2
87.5
43.6
26.5
8.9
3.2
57
12.8
4.8
5.0
4.7
30.8
20.8
21.2
2. 5\
2 9J
10.0
I
II
54.7 56.2
37 6 40 3
4.4
5.0
21.6 23.6
11.6 11.7
8.2 6. 3
2.2
2.6
9
11
13 15
4.5
4.2
1.8 -.8
2.3 —.2
2.2
2.6
6 7 7.0
3.9
3.9
4 4
4.3
.5
.3
2.8
3.1
III
56.4
40 5
5.0
23.7
11 9
6.9
3.3
15
18
4.2
-.7
.0
2.1
70
3.9
4 2
.2
3.0
IV
Year
64.4 231 &
46 4 164 8
6.5 21 0
27 7
96 5
12 2
47 a
8.6
30 0'
36
11 7
18
53
17
6 4
4 8
17 8
.2
.6
7
.27
2.0
89
7 3 28 0
3.9
15.6
4 1
16 9
.2
1.1
34
12 3
28
SURVEY OF CURRENT BUSINESS
July IMS
Table 43.—Gross National Product or Expenditure, Seasonally Adjusted Quarterly Totals at Annual Rates, 1944-47
[Billions of dollars]
1944
I
Gross national productPersonal consumption expenditures...
Durable goods _ _ _ _ _
Nondurable goods
Services
_
Gross private domestic investment
New construction
._ . __
Residential nonfarm
Other
Producers' durable equipment
Change in business inventories — total. _
Nonfarm only
Net foreign investment
Government purchases of goods and services
Federal
War_
_.
Nonwar
Less; Government sales
State and local
205. 8
106.5
6.5
64.0
36.0
7.0
2.4
.7
16
4.8
-.2
.7
-2.7
95 0
87.5
._ 87.5
1. 1
1.0
7.4
II
208.3
109.9
6.7
66.3
36.9
5.1
2.3
.6
18
5.5
-2.7
-2.1
-2.9
96.3
88.8
88.4
1.6
12
7.5
III
1945
IV
Year
216.1 218.7 212.2
113.4 115. 8 111.4
7.4
7.0
6.9
69.1 70.5 67.5
37.4 37.9 37.0
6.4
6.9
6.5
2.4
2.3
2.3
.4
.4
.5
19
2.0
1.8
5.4
5.5
5.8
9
-1.7 — 1.4
K
-1.4 -.8
-1.2 -1.6 -2.1
96.9 98.0 96.5
89.3 90.4 89.0
88.6 90.0 88.6
2.0
1.6
1.6
1.2
1 2
13
7.6
7.6
7.5
1946
I
II
III
IV
220.7
119.0
7.6
73.0
38.4
5.9
2.4
.4
21
6.0
-2.5
-2.2
-2.7
98 5
90.8
90.9
1.0
1 i
7.6
221.6
119.4
7.7
72.9
38.9
7.8
2.9
.5
2 4
6.5
-1.6
— 1. 1
-2.8
97 2
89.5
89.8
1. 1
13
7.7
213.8
123.7
8.1
76.3
39.4
11.0
3.4
.7
2.6
7.7
-.1
.4
—1.2
80.2
72.1
73.9
1.1
2.9
8.1
197.4
129.2
9.7
79.3
40.2
12.2
4.6
1.2
3 4
8.8
— 1.3
— 1.0
.9
55.2
46.8
49.2
.9
3 4
8.4
Year
I
II
III
1947
IV
Year
I
II
III
IV
213.4 196.1 202.8 215.6 222.4 209.3 226.4 228.3 227.9 243. 8
122.8 136. 8 143.1 152.6 157.0 147.4 158.1 164.2 165.6 171.1
8.3 12.2 15 2 18.0 19.5 16.2 19.6 21.1 21.1 22. 1
75.4 82 8 85.0 90.1 92 0 87 5 92.5 96.3 96 8 100 2
39.2 41.8 42.8 44.5 45.5 43.6 46.0 46.7 47.7 48.8
9.2 21.3 25. 1 28. 1 31.3 26 5 32.6 26.4 25.6 35.4
3.3
7.2
8.7
9.6 10.1
8.9 10.8 10.3 11.6 14.0
.7
4.5
4.3
2.3
2.9
3.6
3 9
32
5.2
7.0
2 6
5.8
6 3 60
4 9
60
6 2
6 3
57
6 9
7.3
17.9 17.6 18.9
8.8 12.3 13.9 16.2 12.8 16.6
4.1
5.2 -1.8 -3.5
5.3
4.8
-1.3
4.6
5.0
2.5
5.4
4.2
4.9
6.8
.8 -.9
-1.0
5.6
5.0
4.2
— 1.4
5.3
8.8 10.2
8.4
5.3
5 1
4.7
8.2
3.0
82 8 35 1 29 3 29 7 29 0 30 8 26 9 27.6 28 3 29 0
74.8 26.2 19.8 19.3 17.9 20.8 15.6 15.7 15.7 15.5
75.9 27.9 22.2 18.7 16.0 21.2 \17 7 17.0 16. 6 16.3
1.0
1.2
1.9
3.2
3.6
2.5 j l * . <
8
4 2
2 2
2 9 2.1
2 6
1.4
.9
30
17
9.5 10.4 11.1 10.0 11.3 11.9 12.6 13.5
8.0
9.0
Year
231. 6
164. 8
21.0
96. 5
47.3
30 0
11.7
5.3
6.4
17.8
.6
2.7
8.9
28.0
15.6
16. 9
1.3
12.3
Table 44.—Disposition of Personal Income, Quarterly, 1944—47
[Billions of dollars]
1945
1944
I
Personal income
..
_ _
_
Less; Personal tax and nontax payments
Federal
State and local
Equals* Disposable personal income
Less: Personal consumption expenditures _ _ _
Equals: Personal saving
.__
II
III
39.8
5.2
40.9
6.0
5.6
4
34.9
27.1
7.8
41.0
4.4
4.1
3
36 6
27.6
9.0
4.8
4
34.6
25.5
9.1
IV
Year
42.7 164. 5
3.3 18.9
3.0 17.5
3
14
39.5 145.6
31.2 111.4
8.2 34.2
j
42.7
8.5
8.0
4
34.3
28.5
5.8
II
III
43.2
4.9
4.5
4
38.4
29.3
9.0
41.9
3.9
3.6
.3
37.9
30.1
7.9
1947
1946
IV
Year
42.5 170.3
3.7 20.9
3.3 19.4
3
15
38.8 149.4
34.9 122.8
3.9 26.6
I
II
III
41.6
7.6
7.1
5
34.0
32.4
1.6
43.6
3.4
2.9
4
40.2
35.3
5.0
45.2
4.3
3.9
4
40.9
37.2
3.7
IV
Year
47.7 178.1
3.7 18.9
3.3 17.2
4
17
44.0 159.2
42.5 147.4
1.5 11.8
I
II
III
IV
47.0
8.7
8.2
6
38.3
37.6
.7
47.6
4.0
3.5
5
43.6
40.3
3.3
48.9
4.7
4.3
4
44.2
40.5
3.7
51.7
4.2
3.7
4
47.6
46.4
1.2
Year
195.2
21.6
19.7
2 0
173.6
164.8
8.8
Table 45.—Disposition of Personal Income, Seasonally Adjusted Quarterly Totals at Annual Rates, 1944—47
[Billions of dollars]
1944
I
Personal income
Less: Personal tax and nontax payments
Federal
State and local
Equals* Disposable personal income
Less* Personal consumption expenditures
Equals: Personal Saving _ _ _
_
II
III
1945
IV
Year
I
II
III
1947
1946
IV
Year
I
II
III
IV
Year
I
II
III
IV
Year
161.3 163.3 164.8 168.4 164.5 172.8 172.5 168.6 167.4 170.3 168.8 173.6 181.7 187.3 178.1 190.9 189.6 196.7 203.1 195. 2
18.9 18.8 18.9 19.0 18.9 21.4 21.3 20.7 20.3 20.9 17.9 18.7 19.2 19.7 18.9 21.2 21.4 21.7 22.2 21. 6
17.5 17.5 17.5 17.6 17.5 19.9 19.8 19.2 18.7 19.4 16.2 17.0 17.5 17.9 17.2 19.3 19.4 19.8 20.2 19.7
2.0
17
1.9
1.4
14
2 0
2.0
1.7
1.5
1.7
1.6
14
14
14
1.8
1.9
1.6
16
15
1. 5
142.4 144.5 145.9 149.3 145. 6 151.5 151.3 147.9 147.1 149.4 150.9 154.9 162.5 167.6 159.2 169.7 168.2 175.0 180.9 173. 6
106.5 109.9 113.4 115.8 111.4 119.0 119.4 123.7 129.2 122.8 136.8 143.1 152.6 157.0 147.4 158.1 164.2 165.6 171. 1 154.8
4.1
9.7
8.8
9.4
35.9 34.6 32.5 33.6 34.2 32.5 31.9 24.2 17.9 26.6 14.2 11.8 10.0 10.6 11.8 11.6
Table 46.—Relation of Gross National Product, National Income, and Personal Income, Quarterly, 1944-47
[Billions of dollars]
1945
1944
I
Gross national product
Less* Capital consumption allowances
Indirect business tax and nontax liability
Business transfer payments
Statistical discrepancy
Plus: Subsidies less current surplus of Government enterprises
Equals: National income
Less: Corporate profits and inventory valuation adjustment
Contributions for social insurance
Excess of wage accruals over disbursements
Plus* Government transfer payments
Net interest paid by Government
Dividends
Business transfer payments
Equals: Personal income
II
III
IV
50.6
29
3. 1
.1
.1
51.8
3.5
.1
2
53.6
30
3.7
.1
1.2
2
44.6
.2
45.7
.1
45.7
9 Q
6.2
6.1
1.3
1.3
2
.0
.7
.8
7
6
1l
1.0
1
1
39.8 40 9
1946
I
II
III
IV
56.2 212.2
3 1 11 9
3.7
4.0
.1
.5
4.1
3.0
54.3
32
3.7
.1
.2
55.0
3 2
3.8
.1
.1
52.9
3.3
4.0
.1
1.4
2
.7
46.5 182.4
.2
47.3
.1
.2
47.7 44.3
Year
6.0
5.6 24.0
52
1.3
1.3
.0
.0 -.2
8
.8
31
7
7
28
1.5
4 7
LI
1
5
41 0 42 7 164 5
Year
1947
I
II
III
IV
51.2 213.4
2.7 12 4
4.2 15.6
.1
.5
2.3 4.0
47.3
28
4.1
.1
—.7
50.1
2.9
4.3
.1
—.7
53.7
3.0
4.5
.1
.5
58.2 209.3 54.7 56.2 56.4 64.4
3. 1 11 8
32
3.3
33 34
4.7 17.5
4.4
4.5
4.7
5.0
.2
.2
.2
.2
.2
.6
1.9
1.0 —1.9 —1.6 -2.0 -2.1
.4
.8
42.4 181.7
.4
41.5
.5
44.0
.0
45.5
.0
.9
48.4 179.3
.0
48.8
.1
49.9
—.1
50.2
—.1
53.6
—. 1
202. 5
4.5
3.5
4.9 16.8
3.9
1.4
5.9
1.4
1.6
1.6
.0
.2 -.2
.0
.0
30
2.8
2.6
2.5 10.8
11 13 10 11 4 5
12
5.6
1 3 1.9
1.3
1
1
1
2
6
41.6 43 6 45 2 47.7 178. 1
5.4
1.6
.0
2.6
1i
1.5
2
47.0
6.3
1.5
.0
2.5
13
1.6
2
47.6
6.1
1.3
.0
3.3
10
1.6
2
48.9
6.9
1.2
.0
2.7
11
2.2
2
51.7
24.7
5.6
.0
11. 1
4.4
6.9
.6
195. 2
4.2
3.4 19.8
6.1
6.0
1.5
1 5 1.6
6. 1
1.5
.0
.0
.0
.0
.0
9
2.5
5.6
1 0
1.2
9
8
10 37
10
1.5
4 7
1 0 1 1 1. 1
1
1
1
1
5
42 7 43 2 41.9 42 5 170 3
Year
I
II
III
IV
Year
231. 6
13 3
"18. 5
.6
-3.4
SURVEY OF CURRENT BUSINESS
July 1948
29
Table 47.—Relation of Gross National Product, National Income and Personal Income, Seasonally Adjusted Quarterly Totals at
Annual Rates, 1944-47
[Billions of dollars]
i
II
III
IV
Year
I
n
1947
1946
1045
1944
IV
III
Gross national product
205 8 208.3 216 1 218.7 212.2 220. 7 221.6 213.8 197.4
Less: Capital consumption allowances
11.4 11.7 12.0 12.3 11.9 12.6 12.9 13.2 10.8
12.8 14.1 14.5 14.8 14.0 14.9 15.4 15.7 16.4
Indirect business tax and nontax liability
5
5
5
5
5
5
Business transfer payments
5
.5
Statistical discrepancy
4.1
2.4
2.9
7.5 3.2
.6 6 9
7.0
20
Plus: Subsidies less current surplus of Government enter9
7
7
7
.7
2
prises
8
16
6
Equals: National income
179.9 182.1 182.7 184.9 182.4 190. 9 190.1 177.8 168.0
Less: Corporate profits and inventory valuation adjustment
25.0 24.7 23.8 22.7 24.0 24.2 24.2 17.0 13.7
6.2
5.4
6.2
6.3
5.2
5.8
4.9
5. 1
5.3
Contributions for social insurance
-.8
.0 -.2
.0
.0
.0
Excess of wage accruals over disbursements
.0
.0
.0
4.2
3.2
3.4
3.1 3.0
9.9
3.1
Plus: Government transfer payments
5.0
3.0
3.5
4.1
3.8
2.5
2.7
2.9
3.1
2.8
3.3
Net interest paid by Government
4.7
4.6
4.7
4.7
4 7
4.8
4.9
4.5
4.7
Dividends
.5
.5
.5
.5
.5
.5
.5
.5
.5
Business transfer payments
_
.. .
168 4 164 5 172 8 172 5 168 6 167 4
Equals* Personal income
161 3 163 3 164 8
Year
I
II
III
IV
Year
I
II
III
IV
Year
213.4 196.1 202 8 215.6 222.4 209.3 226.4 228.3 227.9 243.8 231. 6
12.4 11.1 11.6 12.1 12.5 11.8 12.8 13.3 13.4 13.8
13.3
18.5
15.6 16.7 17.2 17.9 18.3 17.5 18.0 18.1 18.4 19.4
5
5
.6
.6
.6
.6
.6
.6
6
6
6
1.6
.4
1.0 —2.4 -2.7 -5.4 -3.3 —3. 4
4.0
3.0 -.9
i
8
.3 -.3 —.4
— 1
.9 —.1
18 20
0
181.7 167.9 175.0 182.1 192.0 179. 3 197.3 199.3 200.6 212.8 202. 5
19.8 14.1 17.8 15.8 19.6 16.8 21.8 25.2 24.3 27.5
6.2
5.2
5.9
6.1
5.1
5.7
6.1
6.1
6. 1 5.8
.8 -.9
.0
.0
.0
.0
.0
.0
.0
.0
10.8 10.1 9.9 13.6 10.6
9.7
5.6 11.9 11.1 10.6
4.4
4.4
4.4
4.5
4.5 4.5
3.7
4.5
4.5
4.5
5.6
6.4
6.7
6.9
4.7
5.4
5.1
5.6
5.9
7.1
.6
.6
.6
.5
.5
.6
.6
.6
.6
.6
196 7 203 1
170 3 168 8 173 6 181 7 187 3 178 1 190 9 189.6
24.7
5.6
.0
11.1
4.4
6.9
.6
195.2
Table 48—Personal Income, Seasonally Adjusted Monthly Totals at Annual Rates, 1944-1947
[Billions of dollars]
Wage and salary receipts
Personal
income
1944:
January
February
March,.
April .
May
June
July
August
September
October
November
December
Total
1945:
January
February
March,
April
Mav_. .
June__
July
August
September
October
November
December Total
1946:
January
February, .
March
April
Mav
June . _
July,.
August
September
October
November
December
Total..
1947:
January
February ._
March
April..
May
June
July
August
September
October
November.
December
Total--
. _ _ _ . .
. . . , _ _ _ _
_ ,
.
_
_
_ __.
_.
. , ,_
._
_ _
-
.
..
.
.
, ,
.
..
, ,
,,
,
. _
..
, ._ ,,
_ _.
_.
.
_ _
__
_ _.
Wage and salary disbursements
Total
Total
disbursements
Commod- Distribity producing in- utive industries dustries
Service
industries
Less employee
contributions
Governfor
ment
social insurance
Other
labor
income
DiviProdends
prietors'
and
and
rental personal
interest
income
income
Transfer
payments
Nonagricultural
income
158.9
162.1
162.7
162.0
163.4
164.6
164.4
165.3
164.7
167. 1
168. 4
169. 4
164.5
111.7
113.4
113.0
112.5
113.3
114.3
115.4
115.7
115.7
116.7
117.5
118. 4
114.8
113.8
115.6
115.2
114.7
115.5
116.6
117.7
118.0
118.0
119.0
119.8
120.7
117.1
51.2
50.9
50.6
49.9
49.7
50. 1
50.0
49.9
49.8
50. 1
50.3
50.8
50.3
21.7
23.6
22.5
22.0
22.2
22.4
22.7
22.9
22.8
22.9
23.3
23.6
22.7
10.0
10.1
10.2
10.3
10.5
10.6
10. 7
10.7
10.6
10.6
10.9
10.8
10. 5
30.9
31.0
31.9
32.5
33.1
33.5
34.3
34.5
34.8
35.4
35.3
35.5
33.5
2.1
2.2
2.2
2.2
2.2
2.3
2.3
2.3
2.3
2.3
2.3
2.3
2.2
1.1
1.2
1.2
1.2
1.3
1.3
1.3
1.4
1.4
1.4
1.4
1.4
1.3
32.9
33.9
34.3
33.9
34.5
34.8
33.4
33.9
33.2
34.5
35.0
34.9
34.1
10.1
10.2
10.3
10.5
10.6
10.7
10.7
10.7
10.8
10.8
10.8
10.9
10.6
3.1
3.4
3.9
3.9
3.7
3.5
3. 6
3.6
3.6
3.7
3.7
3.8
3. 6
143.6
146.1
146.9
146. 4
147.4
148. 5
149. 5
149. 9
150. 3
151.8
152.9
154.0
149. 0
171.6
173.3
173.7
172.1
171.6
173.7
173.6
169 1
163.3
165.4
168.6
168.3
170.3
119.8
119.7
120. 6
119.4
118.5
119.0
119.6
115. 6
109. 5
107.9
107. 2
105.2
115. 2
122.2
122.1
122. 9
121. 8
120. 9
121.4
122. 0
117. 9
111.8
110.2
109. 5
107.3
117.5
51.4
51.2
51.2
50.4
49.1
48.7
47.3
44.0
39. 1
38.5
39.3
39.6
45. 8
23.8
24.0
24.1
24.0
24.1
24.4
25. 0
24.8
24.8
25.1
26. 1
26. 6
24.8
11.0
11.1
11.1
11.0
11.1
11.3
11. 6
11.6
11.7
11.8
12.2
12.2
11.5
36.0
35.8
36.5
36.4
36.6
37.0
38.1
37.5
36.2
34.8
31.9
28.9
35. 5
2.4
2.4
2.3
2.4
2.4
2.4
2.4
2.3
2.3
2.3
2.3
2.1
2.3
1.5
1.5
1.5
1.5
1.5
1.6
1.6
1.6
1.6
1.6
1.6
1.6
1.6
35.4
37.2
36.6
36.1
36.2
36.0
35.7
35.2
34.4
35.4
37.1
37.3
36.0
10.9
11.0
11.0
11.0
11.2
11.3
11.5
11.6
11.7
11.8
12.0
12,2
11.4
4.0
3.9
4.0
4.1
4.2
5.8
5.2
5.1
6.1
8.7
10.7
12.0
6.2
155.4
155.7
156. 9
155.6
155.6
157.9
158.1
153. 6
148.6
150.6
152.3
151.8
154.3
169. 6
167.4
169. 7
172 1
173.5
175.2
182.1
182.9
179.9
185.4
187.4
189. 4
178. 1
103. 2
101.2
104.6
106. 6
107.7
109. 1
110. 6
113. 0
113.5
114. 3
115.7
117. 1
109. 8
105.3
103.2
106.6
108.7
109.7
111. 1
112.6
115.0
115. 4
116. 1
117. 6
119.0
111.7
39. 1
38.2
42.4
43. 5
44.2
46. 4
46.8
49.1
49.7
50.1
50.9
52.2
46.1
27.7
28.5
28. 9
30.4
31.5
30.9
31.6
32.2
32.2
32.3
33.3
33.9
31.2
12.5
12.9
13. 3
13.5
13.5
13.8
14.2
14.2
14.3
14.4
14.6
14.6
13.8
26.0
23.6
22.0
21.3
20.5
20.0
20.0
19.5
19.2
19.3
18.8
18.3
20.7
2.1
2.0
2.0
2.1
2.0
2.0
2.0
2.0
1.9
1.8
1.9
1.9
2.0
1.6
1.6
1.6
1.6
1.6
1.6
1.6
1.6
1.6
1.7
1.7
1.7
1.6
39.5
39.8
38.1
39.0
39.3
39.9
45.4
43.8
39.6
45.0
45.8
45.9
41.8
12.4
12.7
12.9
13.0
13.2
13.3
13.5
13. 6
13.7
13.8
14.1
14.4
13.5
12.9
12.1
12.5
11.9
11.7
11.3
11.0
10.9
11.5
10.6
10.1
10.3
11.4
151.5
149.3
153. 4
155.2
156.6
157.7
159.7
162.8
164.2
164.6
166.2
168.5
159.4
191.0
191.3
190.6
187.9
188.6
192.4
193. 2
190.8
117. 1
117.3
117.3
115. 7
117.0
119.6
119.4
120.1
121. 9
122. 7
125. 5
127. 4
120. 1
119.2
119. 5
119. 4
117.9
119.1
121.7
121.4
122.2
123.9
124.7
127.3
129. 4
122.2
53.2
53.3
53.3
52.4
52.9
54.0
53.6
54.3
55.4
55.9
57.4
59.2
54.6
33.5
33.9
33.8
33.2
33.9
35. 0
35.2
35. 4
36.0
36. 0
37.1
37.4
35. 0
14.7
14.7
14.8
15.0
15.1
15.3
15.5
15.3
15.2
15.2
15.2
15.2
15.1
17.8
17.6
17.5
17.3
17.2
17.4
17.1
17.2
17. 3
17. 6
17.6
17. 6
17.4
2.1
2.2
2.1
2.2
2.1
2.1
2.0
2.1
2.0
2.0
1.8
2.0
2.1
1.7
1.7
1.8
1.8
1.8
1.8
1.8
1.8
1.9
1.9
1.9
1.9
1.8
46.6
46.8
45.8
44.5
44.2
45.1
45.3
42.8
45.0
47.5
47.1
51.3
46.0
14.7
14.9
15.0
15.2
15.3
15. 4
15.6
15. 6
16.2
15.9
16.1
16. 2
15.6
10.9
10.6
10.7
10.7
10.3
10.5
11.1
10.5
21.2
12.0
10.8
10.9
11.7
168. 8
169.6
169.8
168. 5
169.6
172.4
172.9
173. 1
187.4
179.7
181.4
184.2
174.9
206.2
200.0
201.4
207.7
195.2
SURVEY OF CURRENT BUSINESS
30
July 1948
For the petroleum industry alone, capital expenditures in
1947 were almost one-seventh of total nonfarm business ex(Continued from p. 11)
penditures for new plant and equipment, according to estimates of the Department of4 Commerce and the Securities
the light of price developments in the decade prior to the
and Exchange Commission. Expenditures in petroleum
outbreak of the recent war. Between 1929 and 1939 the
last year were some two and one-third times as large as they
wholesale price of crude petroleum and refined products
declined by more than one-fourth, as supplies were aug- were in 1939. This increase is somewhat less, percentagewise, than that which took place in industry generally over
mented by the discovery of new fields both at home and
the same period, because of the fact that investment outlays
abroad, and demand, while still growing in terms of secular
for petroleum already were relatively high in 1939.
change, was nonetheless held down by the relatively low
While the bulk of plant and equipment expenditures in the
level of income. Advances in technology were an addipetroleum field have been for the extraction and refining of
tional factor in the price decline. The prices of gas and
crude, substantial outlays have also been made for transporanthracite also declined over this period—the former, largely
tation and marketing purposes. In 1946, for example, apbecause of the opening up of new natural-gas fields, and the
proximately one-fourth of total outlays by petroleum comlatter, because of its declining position in the field of resipanies was for transportation—pipe lines, tank cars, tankdential heating. Bituminous coal prices, on the other hand,
ers—and marketing facilities.6
rose between 1929 and 1939 despite the drop in the level
On the basis of anticipation of a sample of petroleum
of income, primarily because of increased costs following
companies reporting to the Department of Commerce and
the extension of unionization in the industry, and because
the Securities and Exchange Commission at the beginning of
of the efforts of the industry and Government toward price
1948, it appears that expenditures for plant and equipment
stabilization.
in the petroleum industry during 1948 will exceed actual
Under wartime price control the price of gas drifted downoutlays in 1947 by a sizable margin. The indicated increase
ward, while prices of coal and petroleum advanced by roughly
in the petroleum field is larger in 1948 than for manufacturing
the same percentages, under the impact of increased costs.
and mining generally and is indicative of the current and
Since the first quarter of 1947, prices of petroleum moved
prospective strength in the demand for petroleum products.
up at a relatively faster rate than did those of bituminous
Coupled with the capital expenditures now being made in
coal, while gas prices held steady. In May 1948 the BLS
other fuel industries, these expenditures constitute an
wholesale price index for petroleum was 56 percent higher
important segment of new capital formation in the domestic
than in the first quarter of 1947 and 134 percent higher
economy.
than the index for 1939. The corresponding advances in
soft coal prices were 27 percent and 86 percent, respectively.
Changing Patterns of Fuel Consumption
Large Capital Expenditures
Business Situation
Both the aggregate demand and the postwar pattern of
fuel consumption and prices have given considerable impetus
to capital-in vestment programs in all the fuel industries.
In the case of petroleum and gas, additional facilities have
been needed primarily to take care of the heavy demand
which has developed since the prewar years. With coal, on
the other hand, new expenditures have arisen to a large
extent out of the declining position of the anthracite and
bituminous-coal industries. Emphasis here has been on
mechanization in order to reduce mounting unit labor costs.
In addition, new techniques for using coal are being developed, such as the new coal-fired turbine locomotive; and
already pilot plants are in operation manufacturing synthetic petrolem products from coal.
High fuel prices have acted as a stimulus to capital expansion and the favorable postwar profit position of the fuel
industries has made possible in large measure the heavy
volume of investment which has been undertaken in this area.
The tight supply situation in steel has limited expansion
programs here as in other parts of the economy.
While it would be desirable to show total ^ investment
outlays for all fuel industries, information covering all fields
is not available at the present time.
As one example of the large expenditures for plant and
equipment which are now being made, some data on the
petroleum industry may be cited. In 1947, it is estimated
on the basis of data from the Department of Commerce and
the Securities and Exchange Commission that roughly 2%
billions were spent for new production, refining, transportation, and marketing facilities in the domestic petroleum industry. It should be pointed out that these expenditures
cut across manyfields—-mining,manufacturing, transportation, and distribution.
(Continued from p. 4)
residential building, even though the latter has accounted
for only two-fifths of the construction total this year.
Private industrial building has been running under a year
ago, but most other components show substantial advances.
Of prime importance in the high levels of housing-construction activity initiated during the past 12 months
have been the mortgage insurance operations of the Federal
Housing Administration. Interest rates have generally
moved higher for investment funds, and presumably for
npn-FHA mortgages, though they still are low from an
historical standpoint. Despite the limits on interest rates
on mortgage loans issued under Federal Housing Administration insurance, housing starts under FHA operations
accounted for an increasing proportion of the total of private
housing starts until April 1948. (See chart 3.)
Between 80 and 95 percent of FHA starts in each month
of 1947 and 1948 have been under title VI of the National
Housing Act. Passed originally as an emergency war
housing measure and extended in May 1946 as an aid to
veterans' housing, title VI lapsed on April 30 and failed
of extension in the closing hours of the congressional session.
After its temporary lapse in late 1947, full-scale activity
under the provisions of title VI in the first 4 months of tiiis
year created a backlog of current applications which can
be expected to maintain total units started under the FHA
program for several months ahead close to the level of
March and April. Thus, the effects of the lack of support
of title VI on the rate of total new housing units started
are not likely to be felt in any appreciable degree at least
until the fall.
4
See "Current and Prospective Plant and Equipment Expenditures," SURVEY, April 1948.
s See "Financial Analysis of 30 Oil Companies for 1946," Chase National Bank, New York.
i lew or
STATISTICAL SERIES
Revised Estimates of Retail Inventories, 1940-48x
Table 1.—Retail Inventories2
[Millions of dollars]
Nondurable-goods stores
Durable-goods stores
End of month —
1939 monthly average
1940 monthly average
__
_ __ _
1941: January
February
March
April
May
June -- _ July
August
-_
_ _ _ _ _
September
October _
_
November
December
1942: January
February
March
___
April
May ___ ___ _
June
July
__
August ___
September..
__
October _ _
November
December.
1943: January ___
February
March
April
May
June
July
_.
August
September
October _
November
December
_
1944: January
February.. _ _
_
March
April
__
May
June..
__
July
August
... _
September
October
November
_ _
_ _
December
1945: January
February
March
April
._
__
May
June. __ _
__
July
August
September
__
October
Nove/mber
December
1946: January
February
_
March
__
April
May
June.. _ _ _ _ _
July
August
September
.
October
November
December
1947: January _
_
February
_
March
April
_
_
__
May
June
_
July
August
September
__
October
November
December
1948: January
February
March
April
May (prel.)
All retail
stores
5,355
5,718
5,881
6,178
6,556
6,626
6,637
6,582
6,607
6,680
7,133
7, 880
8,086
7,262
7,342
8,003
8,472
8,697
8, 752
8,594
8,490
8,519
8,506
8,355
8,232
7,307
7,189
7,145
7,381
7,291
7,166
7,071
7,129
7,441
7,526
7,590
7,557
6,872
6,940
7,260
7,516
7,543
7,466
7,362
7,290
7,680
7,774
8,069
8,018
6,906
6,946
7,208
7,439
7, 631
7,743
7,626
7,504
7,740
7,877
8,037
8,116
7,049
7,254
7,687
8,068
8,331
8,548
8,661
9,108
9,787
10, 226
11, 076
11, 525
10, 591
10, 889
11, 530
12, 037
12, 179
11, 770
11, 594
11, 431
11, 815
12, 155
13, 099
13, 487
12, 426
12, 779
13 625
14, 280
14, 164
13, 808
Total
1,773
1,982
2,271
2,432
2,560
2,580
2,529
2,455
2,383
2,124
2,181
2,483
2,701
2,552
2,702
2,962
3,044
3,031
3,045
2,951
2,844
2,732
2,605
2,469
2,422
2,268
2,217
2,209
2,204
2,138
2,081
2,055
2,014
2,002
1,970
1,935
1,880
1,795
1,776
1,841
1,897
1,929
1,942
1,904
1,850
1. 882.
1,868
1,871
1,853
1,739
1,741
1,812
1,884
1,902
1,926
1,908
1,855
1, 863
1,883
1,863
1,891
1,796
1,891
1,969
2,103
2,171
2,249
2,365
2,444
2,668
2,753
2,998
3,138
3, 065
3,355
3,646
3,859
4,028
3,972
3,954
3,878
3,954
4,013
4,182
4,195
4,148
4,358
4, 634
5, Oil
4,946
4,809
Building
Home
Automo- materials furnishtive
and hardings
group
ware
group
group
Jewelry
stores
364
395
430
461
493
512
524
524
540
539
568
610
628
586
612
660
685
684
747
731
732
718
690
666
647
575
568
562
575
545
519
497
492
489
483
472
460
431
433
441
441
440
439
433
439
452
448
450
434
416
409
425
447
458
476
467
475
474
482
479
474
464
522
519
563
599
652
718
744
815
805
898
905
852
1,018
1,060
1,071
1,136
1,079
1,093
1,101
1,122
1,093
1,220
1,137
1,130
1,197
1,275
1,271
1,232
1,193
158
170
184
191
202
212
214
210
204
217
235
268
281
225
216
232
254
277
280
290
287
295
303
300
296
226
217
225
232
235
239
255
256
280
291
295
293
230
223
245
242
255
269
261
253
278
287
301
298
238
231
252
279
293
297
294
281
297
310
324
340
268
262
285
328
351
358
350
342
388
402
436
452
356
344
362
386
388
379
360
343
366
396
450
489
385
376
409
441
442
434
534
637
851
944
1,001
977
911
852
753
455
458
685
879
901
971
1,122
1,138
1,112
1,077
1,026
967
885
839
796
773
743
719
696
668
637
600
576
563
541
525
521
508
492
488
487
489
494
491
476
453
439
433
429
420
407
419
422
430
426
425
422
410
401
399
407
425
419
441
478
494
508
524
544
588
627
670
719
773
813
853
924
965
967
943
931
924
909
974
997
1,057
1,099
1,146
1,190
1,251
1,219
1,217
716
779
806
836
864
879
880
869
886
913
920
920
913
840
903
948
967
958
941
904
858
834
773
707
706
724
713
726
729
721
723
727
703
692
671
647
619
642
632
668
725
740
743
734
705
713
700
691
701
678
682
713
728
725
728
725
689
691
692
653
652
645
666
687
718
713
715
753
770
838
876
945
1,008
1,044
1,140
1, 300
1,437
1,537
1,571
1,570
1,510
1, 557
1,550
1,515
1,512
1,534
1,639
1,760
2,048
2,053
1,965
1
For information on these revisions see the June SURVEY.
2 Monthly data from December 1938 through December 1940 are available upon request.
Total
3,582
3,736
3,610
3,746
3,996
4,046
4,108
4,127
4,224
4,556
4,952
5.397
5,385
4,710
4,640
5, 041
5,428
5,666
5,707
5,643
5,646
5,787
5,901
5,886
5,810
5,039
4,972
4,936
5,177
5,153
5,085
5,016
5,115
5,439
5,556
5, 655
5,677
5,077
5,164
5,419
5, 619
5,614
5,524
5,458
5,440
5,798
5,906
6,198
6,165
5,167
5, 205
5,396
5,555
5,729
5,817
5,718
5,649
5,877
5,994
6,174
6,225
5,253
5,363
5,718
5,965
6,160
6,299
6,296
6,664
7,119
7,473
8,078
8, 387
7,526
7,534
7,884
8,178
8,151
7,798
7,640
7,553
7,861
8,142
8,917
9,292
8,278
8,421
8,991
9,269
9,218
8,999
Apparel
group
•
728
750
651
685
774
755
766
727
777
902
1,010
1,104
1,100
871
843
937
1,043
1,149
1,212
1, 226
1,208
1,303
1,323
1,308
1,286
1,007
979
939
1,003
982
1,012
996
1,071
1,235
1,282
1,283
1,256
1,024
1, 052
1,147
1,178
1,139
1,141
1,127
1,126
1,298
1,354
1,413
1,378
1,024
1,031
1,101
1,113
1,193
1,262
1,183
1,167
1,262
1,241
1,243
1,195
880
928
1,020
1,094
1,158
1,225
1,215
1,297
1, 473
1,567
1,675
1,725
1,372
1,442
1,662
1, 734
1,697
1,660
1,495
1, 439
1,636
1,727
1,889
1,913
1, 558
1,652
1,887
2,009
2,064
1,969
Drug
stores
314
312
334
341
326
328
321
334
324
321
332
369
348
366
368
376
381
386
373
382
384
372
389
418
414
381
384
385
412
421
393
404
403
405
421
428
437
400
407
419
438
440
439
441
420
436
438
462
495
414
429
430
445
461
460
443
444
445
463
494
535
453
438
446
459
472
480
464
476
479
493
560
609
539
525
503
497
500
488
468
472
459
453
523
590
581
568
542
533
530
525
Eating
and
drinking
places
64
74
92
90
88
94
99
107
109
111
112
123
124
129
150
166
156
168
168
164
164
164
166
182
195
192
200
209
212
211
207
210
205
209
213
219
218
224
208
208
223
233
243
246
245
250
260
269
270
270
273
275
274
267
262
264
281
280
279
285
292
290
306
335
331
360
383
376
385
377
387
379
375
372
363
359
352
352
333
338
322
309
295
316
315
333
352
341
341
339
328
Food
group
658
675
696
717
747
762
789
829
849
871
919
968
981
960
905
981
1,066
1,027
975
929
946
940
1,000
1, 015
1,068
1,062
1,069
1,076
1,097
1,094
1,046
965
912
906
929
1,016
1,108
1,102
1,087
1,080
1,055
1,009
920
886
870
906
930
1,071
1,111
1,075
1,039
1,030
1,073
1,060
1, 035
1,022
960
963
1,059
1,200
1,308
1,288
1,216
1, 239
1,230
1,203
1,163
1,144
1,177
1,222
1,323
1,482
1,670
1,723
1,617
1,599
1,691
1,647
1,520
1,602
1,600
1,679
1,767
1,942
2,033
1,937
1,916
2,000
1,962
1,860
1,851
Filling
stations
General
merchandise
group
97
107
106
99
101
110
128
140
151
156
157
153
145
141
134
124
115
112
122
127
132
130
131
129
129
117
78
61
63
68
80
86
91
92
92
93
91
89
80
83
86
79
79
89
86
85
91
91
91
90
101
102
106
99
102
98
93
93
95
106
106
102
99
97
100
105
109
107
108
113
111
125
134
146
156
151
156
161
150
154
183
184
191
213
228
217
226
203
197
209
181
1,242
1,274
1,187
1,263
1,374
1,404
1,411
1,387
1,403
1,569
1,735
1,904
1,889
' 1,513
1,528
1, 719
1,886
2,007
2,047
2,017
2,003
2,038
2,031
1,996
1,910
1,541
1,543
1,536
1,622
1,629
1,623
1,612
1,670
1,791
1,854
1,845
1,801
1,534
1,592
1,699
1,822
1,866
1,830
1,779
1,769
1,887
1,893
1,925
1,855
1,412
1,485
1,597
1,638
1,745
1,831
1,836
1,836
1,923
1,926
1,925
1,858
1,406
1,546
1,700
1,813
1,951
2,102
2,144
2,280
2,423
2,518
2,709
2,709
2,228
2,214
2,375
2,468
2,501
2,409
2,259
2,231
2,342
2,455
2,736
2,854
2,344
2,451
2,705
2,877
2,883
2,798
Other
retail
stores
480
543
544
551
586
593
594
603
611
626
687
776
798
730
712
738
781
817
810
798
809
840
861
838
808
739
719
730
768
748
724
743
763
801
765
771
766
704
738
783
817
848
872
890
924
936
940
967
965
882
847
861
906
904
865
872
868
911
931
921
931
834
830
881
938
911
837
846
941
1,032
1,074
1,148
1,165
1,146
1,217
1, 235
1,280
1,293
1,238
1,324
1,306
1,252
1,254
1,298
1, 359
1,308
1,256
1,313
1,350
1, 333
1,347
31
SURVEY OF CURRENT BUSINESS
32
July 1943
Table 2.—Retail Inventories, Adjusted for Seasonal Variations
1
[Millions of dollars]
Nondurable-goods stores
Durable-goods stores
All retail
stores
End of month—
1940: January... __ .
February
March
April
May
June. _ _
July
August . ___
September
October
November. .
December
1941: January
.
February
March
...
April
May
June
July
August
September
October _ . _.
November
December
3942: January .
February
March
April
May..
.
June
July
August
September
October
November
December
1943' January
February
March
\pril
May
June
July
August
SeDtember
October
November
December
1944' January
February
March
April
May
June
July
August
September
October
November
December
1945' January
February
March
\pril
_.
._
_ . _
_
_ _
_
_ __
...
_ ...
.
...
.-_
- ---
. . ..
. ._ _ _ _
- .
_
_________
.
..
___
jyjgy
June
-.
Julv
August
September
October
_
November
December
1946: January
February
March
April
_
May
June
July
Aueust
.
September
_ _ _
October
November
_ __
December.. _
_ _
1947* January
_ _ _ _ __
February
March
April
May
June
July
_
August
September
_
_ _
October
November _
...
December
1948: January.
February
March _
_
April
May (prel.)
___
-
5,543
5, 644
5,649
5, 678
5,716
5, 695
5, 630
5, 646
5,779
5,815
5, 876
6,011
6.034
6, 141
6.267
6,347
6,468
6,700
6,957
7,021
7,230
7,610
7,597
7,620
7,834
8,213
8,478
8, 578
8,686
8,675
8,549
8,319
8,173
7,928
7,815
7,874
7,632
7,349
7,331
7, 250
7,165
7,200
7, 257
7,292
7,278
7,173
7,098
7 350
7,393
7, 512
7,525
7,469
7, 458
7,487
7,399
7, 507
7,507
7,604
7 535
7,396
7,396
7, 455
7,463
7,567
7. 755
7,770
7,629
7,570
7,626
7,577
7,616
7,502
7,656
7,864
8,023
8,323
8,577
8,917
9,387
9,760
9, 995
10, 391
10, 689
11,049
11,427
11, 653
11,832
11,974
11,772
11, 948
11, 925
11,944
12, 073
12, 435
12, 621
12, 953
13,384
13, 751
14, 040
13, 907
13, 753
Total
1,877
1,912
1,924
1,944
1,968
1, 960
1, 951
1,962
2,032
2,077
2,114
2,141
2,206
2,275
2,303
2,339
2, 366
2,387
2,472
2,415
2,453
2,646
2,748
2, 653
2,798
2, 953
2,993
2,969
2,993
2, 918
2, 834
2,716
2,573
2, 452
2,415
2,388
2,308
2,231
2,171
2,095
2, 041
2,027
2,006
1,982
1,940
1,918
1,871
1,903
1,862
1,869
1,872
1,888
1, 900
1,874
1,840
1,859
1, 837
1, 852
1,845
1,847
1, 830
1,843
1, 863
1. 862
1, 885
1,879
1, 845
1, 837
1,848
1,838
1,874
1,915
1,960
1,987
2, 057
2,114
2,220
2,386
2. 506
2,726
2,771
2,948
3, 063
3, 160
3,419
3, 632
3, 760
3, 931
3, 942
3, 967
3, 949
4, 024
4,046
4,147
4,126
4,270
4,435
4,612
4,888
4,808
4,722
Building- Home
Automo- materials furnishand hardtive
ings
ware
group
group
group
566
590
588
612
640
635
612
628
675
716
728
736
760
790
780
773
759
766
805
726
734
880
955
923
979
1,097
1,105
1,089
1,069
1, 023
967.
910
850
810
773
756
726
682
648
623
593
573
563
555
531
529
508
505
495
479
475
482
484
473
451
449
437
435
419
420
427
416
418
415
418
419
408
410
402
412
425
435
439
464
476
490
517
554
601
658
680
727
769
826
851
896
922
943
961
948
943
955
991
1,008
1,050
1,117
1,142
1,154
1,206
1, 173
1,198
757
768
781
779
773
772
781
780
785
785
793
802
820
831
836
848
860
864
895
919
924
938
936
865
932
951
939
925
911
881
852
829
776
726
732
756
737
729
708
696
700
708
698
688
673
665
642
671
654
671
704
714
718
713
700
708
702
710
727
708
705
716
707
699
704
706
684
686
694
669
672
677
688
687
695
687
694
743
774
838
877
959
1, 031
,084
,176
.299
,389
,480
,525
,542
,514
.556
,556
,545
,554
1,590
1,687
1,757
1,979
1,979
1,899
391
390
391
389
389
385
387
383
398
400
414
421
437
459
484
506
530
537
552
541
565
588
606
608
631
648
682
677
737
731
728
700
671
648
645
618
588
570
571
540
512
497
489
476
470
460
459
464
448
447
438
436
433
433
436
441
436
438
433
447
424
431
444
454
470
467
472
462
469
467
473
497
522
519
559
594
652
723
755
815
817
879
886
872
,018
,060
,064
,129
,079
,100
,115
,122
,108
,198
,114
1,154
1,197
1,275
1, 263
1,224
1,193
i Monthly data from December 1938 through December 1939 are available upon request.
Jewelrystores
163
164
164
164
166
168
171
171
174
176
179
182
189
195
203
212
217
220
220
229
230
240
251
257
256
257
267
278
276
283
287
277
276
268
265
258
257
250
244
236
236
249
256
263
266
264
262
263
265
272
255
256
265
255
253
261
262
269
266
274
280
294
294
293
287
281
279
283
290
304
306
311
317
327
343
357
366
376
415
397
383
377
378
374
377
385
379
377
377
377
391
391
396
408
409
409
426
440
432
432
Total
3, 666
3,732
3,725
3. 734
3,748
3,735
3,679
3.684
3, 747
3,738
3, 762
3,870
3,828
3,866
3, 964
4,008
4,102
4, 313
4, 485
4,606
4,777
4,964
4,849
4, 967
5,036
5,260
5,485
5,609
5, 693
5, 757
5, 715
5, 603
5. 600
5,476
5,400
5, 486
5,324
5.118
5, 160
5, 155
5,124
5, 173
5. 251
5, 310
5, 338
5, 255
5,227
5, 447
5, 531
5,643
5, 653
5. 581
5, 558
5, 613
5, 559
5, 648
5. 670
5, 752
5, 690
5, 549
5, 566
5, 612
5,600
5, 705
5, 870
5, 891
5, 784
5, 733
5,778
5, 739
5, 742
5, 587
5, 696
5.877
5. 966
6, 209
6,357
6, 531
6, 881
7, 034
7.224
7, 443
7,626
7,889
8, 008
8,021
8,072
8, 043
7, 830
7,981
7, 976
7,920
8,027
8,288
8,495
8,683
8,949
9, 139
9, 152
9,099
9,031
Apparel
group
749
759
770
752
757
744
743
733
754
744
739
750
726
718
737
736
759
804
878
902
939
975
965
947
970
1,026
1,117
1,165
1,221
1,272
1,211
1,177
1,177
1, 159
1,148
1,150
1, 125
1,029
1,031
1,049
1,022
1,036
1,077
1,114
1, 139
1,132
1,120
1,170
1,209
1, 263
1,252
1,174
1,153
1, 172
1,130
1,170
1, 203
1,248
1,227
1,169
1,186
1,215
1,198
1,228
1,278
1, 231
1,173
1,137
1, 102
1,095
1,064
1, 006
1,067
1,123
1, 136
1,234
1,244
1,267
1,306
1,348
1, 360
1,445
1,494
1,536
1, 586
1,678
1,663
1,619
1,658
1,633
1,647
1, 653
1,684
1,690
1,664
1,688
1, 817
1,905
1, 933
1,986
1,958
Drug
stores
311
314
304
308
313
307
313
313
307
309
316
324
320
332
329
330
328
340
339
341
345
357
322
355
379
380
377
377
378
387
395
382
389
399
381
400
396
389
408
412
399
410
414
416
421
408
402
420
420
423
433
430
445
447
432
448
438
441
455
434
442
434
440
451
467
449
456
457
463
471
492
475
434
438
466
476
490
481
499
511
518
534
537
523
520
494
505
505
498
485
495
489
476
499
520
564
563
532
542
535
536
Eating
and
drinking
places
68
63
57
81
62
89
76
75
73
80
82
86
90
88
89
94
99
108
110
114
117
122
122
126
147
163
158
168
168
165
166
168
173
180
191
188
196
205
215
211
207
211
207
214
222
217
214
219
204
204
226
233
243
247
248
256.
271
266
265
264
267
270
278
266
262
266
284
287
291
282
286
284
299
329
335
359
383
378
390
387
403
375
368
364
355
352
357
351
333
340
326
317
307
313
309
326
344
335
345
338
328
Food
group
668
665
676
653
672
693
673
664
677
661
688
707
709
709
737
752
791
853
885
909
931
943
927
938
923
970
1,052
1,014
977
956
988
981
1,013
988
1,009
1, 038
1,022
1,038
1,047
1,075
1,086
1, 052
1,032
1,015
1,019
973
980
995
1, 039
1,041
1,007
991
955
966
984
1, 015
1, 020
1,026
982
971
993
993
1,024
1,041
1,075
1,115
1,086
1,078
1, 161
1, 149
1,156
1,164
1, 163
1,195
1, 174
1,182
1,208
1,248
1, 331
1,368
1,451
1,420
1,477
1, 556
1, 595
1, 562
1,642
1. 621
1, 551
1,697
1, 735
1, 813
1,860
1,876
1,858
1,819
1,890
1, 953
1,905
1, 831
1,889
Filling
stations
106
102
104
105
105
106
107
108
108
108
110
114
109
119
123
128
129
132
135
136
139
143
142
144
134
124
115
112
122
127
132
130
131
129
129
117
78
61
63
68
80
86
91
92
92
93
91
89
80
83
86
79
79
89
86
85
91
91
91
90
101
102
106
99
102
98
93
93
95
106
106
102
99
97
100
105
109
107
108
113
111
125
134
146
156
151
156
161
150
154
183
184
191
213
228
217
226
203
197
209
181
General
merchandise
group
1,274
1,294
1,282
1, 288
1,290
1,258
1,227
1,245
1,271
1,280
1,273
1,320
1,330
1.326
1, 363
1,375
1,402
1,448
1,495
1, 552
1,605
1,692
1,665
1,727
1,722
1,828
1,881
1, 956
2,005
2,048
2,028
1,965
1,897
1,819
1,761
1, 803
1,738
1, 636
1,624
1, 592
1,595
1,631
1,678
1,696
1,716
1,694
1,680
1,801
1,790
1,813
1, 828
1,826
1,798
1,798
1,769
1,783
1, 752
1,755
1, 738
1,678
1,671
1,701
1,644
1,716
1,808
1,856
1,837
1,813
1,779
1,755
1, 738
1,664
1,778
1,823
1,853
1,942
2,078
2,178
2,277
2,275
2,307
2,429
2,496
2, 595
2,541
2, 561
2,518
2,493
2,390
2,307
2,244
2,212
2, 255
2,437
2,609
2,734
2,814
2,911
2, 932
2,867
2,778
Other
'retail
stores
490
535
532
547
549
538
540
54(5
557
556
554
569
544
574
586
59,3
594
G2«
643
652
701
732
706
730
761
76S
78f
817
822
802
797
800
820
802
781
790
769
760
748
735
747
752
76:;
72<)
738
740
753
78«i
816
82'
848
88,'i
89^!
91 (i
89
89o
92.i
932
94i i
901;
89'?
file
90- i
878
87i?.
Sa.'i
86S
887
881
90")
892
853
87 >
902
911
845
872
97)
1,032
1.071
1,115
1,12:)
1. 161)
1,255
1,223
1,231
1, 29:5
1. 25 [)
1, 36 ri
1,345
1, 252
1, 254
1, 260
1,307
1. 335
l', 295
1,300
1.298
1, 333
1,3€1
BUSINESS STATISTICS
J.HE DATA here are a continuation of the statistics published in the 1942 Supplement to the SURVEY OF CURRENT BUSINESS. That volume
contains monthly data for the years 1938 to 1941, and monthly averages for earlier years back to 1913 insofar as available; it also provides a
description of each series and references to sources of monthly figures prior to 1938. Series added or revised since publication of the 1942 Supplement are indicated by an asterisk (*) and a dagger (f), respectively, the accompanying footnote indicating where historical data and a descriptive
note may be found. The terms "unadjusted" and "adjusted" used to designate index numbers refer to adjustment of monthly figures for seasonal
variation.
Data subsequent tc May for selected series will be found in the Weekly Supplement to the Survey.
Unless otherwise stated, statistics through
1941 and descriptive notes may he found
in the 1942 Supplement to the Survey
1948
1947
May
June
July
August
September
GENERAL BUSINESS
October
November
December
January
February
March
April
May
' 205. 6
' 125. 7
' 127. 8
' 57.0
'37.5
' 15.4
'17.9
'207.4
' 125. 0
' 127.0
'56.3
'37.2
15.6
'17.9
208.1
' 126. 7
' 128. 7
'57.3
'37.9
15.5
18.0
2.1
'1.9
'49.3
' 16.6
'12.1
'2.0
'2.0
'51.9
'16.7
' 11.8
2.0
2.0
'51.8
'16.7
10.9
INDICATORS
NATIONAL INCOME AND PRODUCT*
Seasonally adjusted quarterly totals at annual rates:
National income
bil of dol
Compensation of employees
do
Wages and salaries
do
Private
do
Military
do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' and rental income
do
Business and professional
do
Farm
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment
bil of dol
Corporate profits before tax
do
Corporate profits tax liability
do
Corporate profits after tax
do
Inventory valuation adjustment
do
Net interest
do
215.5
' 134. 0
' 128. 8
' 111. 1
'3.5
'14.2
' 5.2
'50.6
'25.0
'18.0
'7.5
'25.2
' 28.8
' 11 3
' 17.5
'—3 6
'4.2
'24.3
'29.1
' 11.4
' 17.7
'—4 8
'4.4
27.5
32.4
12 7
19.7
'—4 9
' 4.5
26.3
31.4
12.2
19.2
'—5. 1
'4.6
' 228 3
r
164. 2
'21.1
'96.3
r
46.7
'26.4
r
10.3
17.9
'—1.8
' 10.2
' 227.9
r
165. 6
21. 1
96.8
47.7
25.6
11.6
17.6
—3.5
'8.4
' 243 8
' 171.1
' 22.1
' 100. 2
'48.8
' 35.4
' 14.0
'18.9
' 2.5
8.2
' 246. 0
' 172. 3
'21.4
' 101. 3
'49.6
'40.4
'14.3
' 19.6
'6.5
'3.9
'27.6
' 15.7
11.9
28.3
15.7
12.6
'29.0
' 15. 5
'13.5
'29.4
'16.0
'13.4
' 189. 6
'21.4
' 168. 2
'4.1
Gross national product
do
Personal consumption expenditures
do
Durable goods
do
Nondurable goods
do
Services
do
Gross private domestic investment
do
New construction
do
Producers' durable equipment
do
Change in business inventories
do
Net foreign investment
do
Government purchases of goods and services
bil of dol
Federal (less Government sales) _
do
State and local.
do
Personal income
do
Less: Personal tax and nontax payments do
Equals* Disposable personal income
do
Personal savings §
do
PERSONAL INCOME*
Seasonally adjusted, at annual rates:
Total personal income
_
bil. of dol
Wage and salary receipts, total...
_do
Total employer disbursements
do
Commodity-producing industries
do
Distributive industries _ _
do
Service industries _
do
Government
.
do
Less employee contributions for social insurance
bil. of doL.
Other labor income
do
Proprietors' and rental income. _
do
Personal interest income and dividends. -do
Total transfer payments
_ do
'44.4
' 23.0
'14.3
'7.1
212. 8
132. 2
127. 1
109. 5
'3.6
' 14.0
' 5.0
48.6
24.7
16.5
'7.4
' 196. 7
'21.7
' 175. 0
'9.4
'
'
'
'
199.3
125. 3
119.6
102. 3
' 3.9
' r13.4
5.7
'44.6
'22.7
'14.9
'7.0
'
'
'
'
200. 6
127. 6
122. 5
105. 3
'3.7
13.5
'
'
'
'
5.1
' 188. 6
' 117. 0
' 119. 1
' 192. 4
' 119.6
' 121.7
' 54.0
' 35. 0
' 15.3
'17.4
' 193. 2
'119.4
' 121. 4
'53.6
' 35. 2
' 15.5
'17.1
' 190.8
'120.1
' 122.2
'54.3
'35.4
' 15.3
'17.2
' 206. 2
' 121.9
' 123. 9
'55.4
'36.0
15.2
'17.3
' 200. 0
' 122.7
' 124. 7
' 55.9
'36.0
' 15.2
17.6
' 201. 4
' 125. 5
' 127. 3
'57.4
'37.1
15.2
17.6
2.1
1.8
'44.2
' 15.3
2.1
1.8
'45.1
' 15.4
10.5
'2.0
1.8
'45.3
' 15.6
11.1
2.1
1.8
'42.8
' 15.6
'10.5
2.0
' 1.9
'45.0
'16.2
21.2
2.0
1.9
'47.5
' 15.9
'12.0
'1.8
1.9
'47.1
'16.1
'10.8
'52.9
'33.9
' 15.1
r
17.2
r 10. 3
' 207. 3
'23.2
' 184. 1
' 11.8
' 203. 1
'22.2
' 180. 9
'9.7
' 207.7
' 127. 4
' 129. 4
'59.2
' 37.4
15.2
'17.6
2.0
1.9
' 51. 3
'16.2
'10.9
' 209. 4
' 206. 8
' 126. 9
' 127.5
' 129. 7 ' 128. 9
'58.0
'59.3
' 37. 5 '37.8
' 15. 3 ' 15.4
17.7
'17.6
'2.2
1.9
'52.4
'16.5
11.1
'2.0
'2.0
'50.0
' 16.6
11.3
' 183. 7 ' 184. 4
' 187. 4
' 184. 2
' 172. 9 ' 173. 1
' 181. 4
' 184. 7 ' 184. 5 ' 184. 1
' 179. 7
172.4
' 169. 6
Total nonagricultural income
do
NEW PLANT AND EQUIPMENT
EXPENDITURES*
'4, 170
4,960
4,140
3,940
All industries, total
_
mil. of dol
r
500
620
500
Electric and gas utilities
do
450
' 1, 980
2,500
2,050
Manufacturing and mining
do
2,010
'270
Railroad
_
do
310
230
220
r
1,420
1,360
Commercial and miscellaneous
do
1,530
1,260
FARM INCOME AND MARKETINGS
Cash farm income, total, including Government
2,096
2,178
2,001
1,866
2,927
3,060
payments*
mil. of dol..
3,109
2,581
3,773
2,662
2,211
2,517
2,026
1,961
2,909
2,140
2,047
1,837
3,096
2,555
3,759
2,505
3,049
2,657
1,989
2,185
From marketings and C. C. C. loans*
do
698
1,299
678
670
717
1,044
1,497
1,187
Crops*
do
2,122
1,540
1 205
621
743
1,263
1,462
1,377
1,610
1,120
1,556
1,511
1,637
1,552
1,462
1,318
Livestock and products*
do
1,442
1,368
373
392
460
353
329
318
303
319
293
334
382
Dairy products*
_ _ _ _ _
do
392
379
645
724
720
1,019
593
1,039
970
968
785
711
Meat animals*..
do_ .
958
705
782
255
237
250
279
201
251
232
280
206
262
244
234
261
Poultry and eggs*
do
' Revised. §Personal savings is the excess of disposable income over personal consumption expenditures shown as a component of gross national product above.
*New series. Quarterly data for 1939-43 and earlier annual data beginning 1929 for national income and gross national product and monthly data for 1929-43 for personal income are published in the "National Income Supplement to Survey of Current Business," which is available from the Superintendent of Documents, Washington, D. C., for 25 cents; revised figures beginning 1944 are on pp. 27-29 of this issue. For description of the series on plant and equipment expenditures and data for 1929-45, see p. 24 of the March 1948 Survey; first quarter of 1948 estimates
are based on anticipated capital expenditures of business. Revisions for January 1945-May 1946 for farm income are available on request; see note in September 1947 Survey regarding earlier
data; revisions beginning 1945 were in part to adjust the series to levels indicated by 1945 Census data; 1940-44 data have not been similarly revised.
S—1
SUEVEY OF CURRENT BUSINESS
S-2
July 1948
1948
1947
Unless otherwise stated., statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
May
June
July
August
September
October
November
December
January
February
March
April
May
GENERAL BUSINESS INDICATORS—Continued
FARM INCOME AND MARKETINGS— Con.
Indexes of cash income from marketings and
C. C. C. loans, unadjusted:
All commodities!
1935-39=100..
Cropsf
do
Livestock!
_ _ _ _ _
_ _ do_
Indexes of volume of farm marketings, unadjusted:
All commodities*
1936-39=100.
Crops*
do
Livestock*
_ _ _ _ _ do. «
299
217
361
329
260
381
400
422
383
377
416
348
459
524
410
566
743
432
466
539
411
438
455
425
385
366
399
276
251
295
295
244
333
308
235
364
322
237
386
126
87
156
138
106
161
167
180
156
152
170
138
172
202
150
199
255
157
160
170
153
151
152
150
134
130
136
109
102
114
111
86
129
'115
'80
141
121
82
150
INDUSTRIAL PRODUCTION
Federal Reserve Index
185
185
178
185
191
194
193
189
189
190
188
'186
9 192
do_ __
191
191
184
191
197
200
200
196
197
197
197
'193
' 197
do
do
do
do
do_ _
do
do
do
do_ _
do
do_ _
do
do_ _
do
do
219
197
145
158
138
273
187
183
198
206
148
162
269
225
179
220
193
149
160
143
275
179
176
187
209
183
163
254
233
191
208
181
141
155
133
266
171
167
180
196
181
160
225
217
185
212
188
151
160
147
267
170
167
180
207
193
166
241
213
180
219
195
150
164
143
276
174
171
182
210
198
166
248
227
197
224
204
150
172
138
280
179
180
176
210
202
169
236
232
198
224
202
148
176
133
281
185
188
178
206
192
169
231
234
200
227
205
140
181
119
288
189
192
183
200
178
172
203
244
206
226
203
138
179
117
223
203
137
178
116
284
198
'227
'217
' 222
' 207
' 140
' 162
' 128
' 275
9 199
' 197
9 202
169
167
252
435
113
119
109
168
178
247
439
106
112
103
154
164
182
247
438
99
100
97
166
173
181
245
431
116
114
117
178
178
206
248
425
121
118
123
182
'229
'229
181
252
251
427
126
123
128
167
180
196
252
431
126
126
126
161
'91
189
171
146
255
438
113
112
114
154
'88
187
Unadjusted combined index! ._ . . 1935-39=100__
Manufactures!
_ _
Durable manufactures'}'
Iron and steel!
Lumber and productsf
Furnituref
Lumber!
_ _
IVTachinery!
Non ferrous metals and products!.
Fabrfoatin0'*
Smelting and refining*
Stone clay and glass products!
Cement
.
Clay products*
Glass containers!
Trar^portation equipment
Automobiles!^
_ _
Nondurable manufactures!
_ do
Alcoholic beverages! __do
Chemicals!
_ do
Industrial chemicals*.
do_ _
Leather and products!
do
Leather tangling*
do
Shoes
_ _ _ _ _-do
Manufactured food products!
do
Dairy products!
do
Meat packing
do
Processed fruits and vegetables*
do
Paper and products!
do
Paper and pulp!
_
do_
Petroleum and coal products!
do
Coke
- _ _ .
do_ _
Printing and publishing!
Rubber products!
Textiles and products! _
Cotton consumption
Ravon deliveries
Wool textile production
Tobacco products
_
Minerals?
Foelsf__
Anthracite!
Bituminous coal!
Crude petroleum
Metals
._
Adjusted, combined index!
Manufactures
do_ __
. do
do _
_ _ do
do
do
do
. . _ _ _ _ _ do
do
do
do_
do
_ _
do
149
J-202
151
90
161
155
'184
150
146
"192
127
'156
136
101
160
173
145
263
158
290
159
'191
J-196
'201
'203
155
140
152
153
161
171
170
Pl21
144
173
163
118
165
108
157
177
160
9205
177
152
»208
179
157
'204
168
165
145
220
164
148
271
161
142
146
216
155
133
263
155
165
130
207
142
118
263
130
162
139
210
154
ISO
267
156
165
145
217
160
130
278
168
172
156
223
164
139
280
167
181
168
225
172
149
290
172
172
150
230
163
131
287
166
139
153
156
104
165
157
140
152
153
110
147
169
148
145
144
93
117
160
151
155
155
114
151
161
151
158
160
122
161
164
145
158
162
126
163
166
132
155
163
119
169
165
106
151
162
111
164
166
85
'285
194
197
187
190
161
166
196
244
206
173
142
253
437
120
117
122
146
'87
175
'202
189
193
158
160
201
'232
192
'176
176
'253
434
126
124
127
144
'99
141
92
163
91
163
157
»214
159
»216
207
143
177
125
283
200
203
192
201
160
169
219
'241
'202
173
172
'174
p 119
121
9 111
196
' 169
233
' 222
' 183
' 176
173
178
'143
'155
123
141
105
113
116
9 249
' 438
' 106
' 107
9 151
' 127
' 97
170
85
167
'90
169
'211
'214
' 225
137
174
'159
'200
'174
' 159
' 195
' 177
160
153
153
300
181
153
155
215
179
153
r
295
185
147
149
160
112
161
165
'81
149
161
118
155
167
83
'179
198
'251
'439
'110
179
144
223
208
'183
'168
'227
'237
'252
'433
'114
'101
166
178
177
'143
'168
'131
'276
'198
' 198
'202
'205
175
147
302
'177
155
'136
163
164
147
297
179
173
147
£.09
163
146
108
97
169
82
'171
'125
'
'
'
'
9
'
' 192
'145
'149
105
102
165
168
116
171
172
1.48
. _ _ do
185
184
176
182
187
190
192
192
193
194
191
'188
do
191
191
183
188
192
197
199
198
200
201
200
'195
' 197
218
142
134
187
198
200
141
162
251
17C
162
253
113
119
219
142
133
179
188
207
171
164
257
163
159
250
107
114
154
207
133
121
171
181
195
164
160
235
163
164
251
101
106
155
210
142
133
170
180
199
171
162
231
169
176
249
116
115
157
217
140
128
174
182
202
171
160
243
172
198
248
122
120
158
223
143
128
179
176
201
174
161
229
176
229
248
126
121
156
229
151
137
200
192
210
196
176
219
177
191
'217
'144
'132
'199
'202
P 222
9 138
' 125
9 199
9 202
' 205
1.87
' 169
167
'250
182
'249
'110
v 250
9 106
'157
'148
229
155
143
194
187
202
199
179
200
178
167
255
120
116
158
226
150
135
198
189
207
208
168
208
180
198
'147
229
153
139
189
183
205
196
166
218
173
167
254
114
113
158
'155
224
150
137
185
177
201
178
162
229
179
219
251
124
122
158
'138
'139
'157
'149
' 168
125
127
'147
' 150
'163
f 214
' .125
Durable mannfactures
do_ _
Lumber and products
_ _
_ do
Lumber
do
Nonferrous metals
do__
Smelting a n d refining*. _ _ _ _ _ _ d o
Stone, clav, and glass products
do
Cement.
do___
Clay products*
_ _ _ _ _ _ _ _ _ _ do
Glass containers
do
Nondurable manufactures
. . .
do
Alcoholic beverages. _ „
do
Chemicals
do
Leather and products
do
Leather tanning*
do
Manufactured food products
do
Dairy products
do
Meat packing
_
_ _ _ _ do
Processed fruits and vegetables* .. _ _ d o _
Paper and products
do
Paper and pulp
_
do_
Petroleum and coal products
do
Petroleum refining*
do
Printing and publishing
do
Textiles a n d products _
_ _ _ _ _ do
Tobacco products
do___
1 55
'152
156
133
146
140
145
138
158
153
146
149
159
153
' 147
142
134
163
157
'140
T
252
123
116
160
'139
115
102
158
'145
151
138
161
155
152
132
160
155
1-184
'191
'195
'201
'203
'204
'205
'208
'214
'215
'211
142
164
142
146
155
159
139
142
156
146
154
160
144
160
163
152
164
175
152
172
169
146
163
149
148
'179
157
179
155
150
175
164
170
129
165
160
160
138
158
153
150
141
163
157
153
147
'144
163
158
131
155
166
160
211
193
'173
'227
'177
218
' 177
105
168
154
' 174
'183
159
164
' 156
' 177
163
150
155
153
140
148
151
154
155
156
Minerals
do
155
147
' 163
142
117
107
122
120
109
117
124
Metals
do
118
117
' 132
117
111
136
r
Revised. 'Preliminary. {Index is in process of revision.
*New series. Data beginning 1939 for the new series under industrial production are shown on pp. 18 and 19 of the December 1943 Survey. See note in January 1948 Survey for source
of indexes of volume of farm marketings and reference to figures beginning 1929; annual indexes for 1939,1941 and 1944-47 are shown on the back cover of the February 1948 Survey; they include
revisions in marketings data and also, for 1945-46, adjustments to 1945 census data which have not been incorporated in monthly figures; 1940-44 annual indexes and 1940-46 monthly data have
not been adjusted to census data.
!Revised series. For revisions for the indicated unadjusted indexes and all seasonally adjusted indexes for the industrial production series, see pp. 18-20 of December 1943 Survey; seasonal
adjustment factors for a number of industries were fixed at 100 beginning various months during 1929-42; data for these industries are shown only in the unadjusted series. Revisions for January 1945-May 1946 for the indexes of cash income from farm marketings are available on request; see note in September 1947 Survey, p. S-l, regarding earlier data; revisions beginning January
1945 were in part to adjust the series to levels indicated by 1945 census data; 1940-44 data have not yet been similarly revised.
SUEVEY OF CUEEENT BUSINESS
July 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-3
1948
1947
May
June
July
August
September
October
November
December
January
February
March
April
May
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS t
Sales:
Value, total
_
millions of dollars
Durable goods industries
do
Nondurable goods industriesdo
Index, total
average month 1939= 100
Durable goods industries
do
Iron, steel, and products
_ _ _ -do
Non ferrous metals and products
do
Electrical machinery and equipment-. -do
Machinery, except electrical
do
Automobiles and equipment- do
Transportation equipment, exc. autos-_do
Furniture and finished lumber prod
do
Stone, clay, and glass products
do
Other durable goods industries
do _Nondurable goods industries
do
Food and kindred products
do ._
Beverages
do
Textile-mill products, excl. apparel
do _
Leather and products
do
Paper and allied products- do
Printing and publishing .
do
Chemicals and allied products
do
Petroleum and coal products.
do
Rubber products
do
Tobacco manufactures- _
do
Other nondurable goods
do
Inventories, book-value, end of month:
Value, total
millions of dollars
Durable goods
do
Nondurable goods
do
Index, total
average month 1939=100
Durable goods industries
do
Iron, steel, and products
_do_
Nonferrous metals and products
do
Electrical machinery and equipment -do
Machinery, except electrical
do
Automobiles and equipment
_
do
Transportation equipment, exc. autos__do
Furniture and finished lumber prod
do
Stone, clay, and glass products
do
Other durable goods. ...
.. __ _.do
Nondurable goods industries
do
Food and kindred products __
__ do
Beverages
do
Textile-mill products, excl. apparel-— do
Leather and products _
do
Paper and allied products _ _
_ _ do
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products
. _ _ do
Rubber products . _
. do
Tobacco manufactures
do
Other nondurable goods
__
do
New orders:
Index, total
average month 1939=100
Durable goods
_
do
Iron, steel, and products
do
Machinery, including electrical
do
Other durable goods, excl. trans, equip, -do
Nondurable goods
-do
'35,048
' 6, 157
8,891
283
316
298
369
359
330
338
467
'239
228
'276
264
263
258
255
257
312
224
305
242
309
222
269
' 15, 063
' 6, 129
8, 934
295
328
306
376
394
339
364
508
'208
244
'269
'276
'286
292
279
222
315
242
304
254
322
237
257
' 14, 361
r 5, 545
8,816
270
285
267
310
331
278
345
390
'215
223
'227
262
286
281
235
245
288
218
280
258
298
223
221
' 15, 257
' 5, 858
9,399
287
301
296
327
349
295
326
406
'251
226
'258
279
291
296
275
277
295
251
287
257
312
213
284
' 26, 440 ' 26, 479 ' 26, 846 ' 27, 051
' 12, 729 ' 12, 833 ' 13,015 ' 13, 131
13,711
13, 646
13, 831
13, 920
246
246
250
252
264
266
270
272
192
189
197
199
253
255
268
262
372
374
376
375
271
268
275
276
431
443
444
452
629
630
630
644
204
203
205
203
160
161
161
161
195
204
198
206
234
232
230
235
194
200
208
213
334
332
316
327
225
221
223
223
201
208
213
207
219
229
241
253
358
366
373
370
262
265
269
261
162
164
160
169
279
277
268
258
211
219
216
212
289
293
297
301
235
256
273
294
209
222
245
271
304
315
202
230
231
260
271
328
194
213
231
261
286
307
199
213
16, 597
6,395
10, 202
325
342
321
392
410
324
399
483
'286
249
'270
315
332
356
312
288
312
289
329
269
346
239
336
' 27, 055
' 13, 131
13, 924
252
272
200
259
374
277
451
634
201
157
210
235
220
338
220
198
260
368
256
171
246
216
288
260
292
312
345
230
240
r
' 16, 554 ' r17, 523 •• 16, 549 ' 16, 208 ' T18, 100 ' 17, 212
T
7, 364
' 6, 848
' 6, 405 ' 6, 448
6, 988
6, 348
10, 344
10, 535
9,760 ' 10, 736 ' 10, 364
10, 206
'321
'328
330
311
337
330
'352
'364
329
360
353
359
345
'325
325
331
336
335
364
410
'415
423
442
415
386
470
442
'440
444
446
304
363
'350
325
347
356
424
383
435
'413
424
401
501
' 476
514
442
469
486
'273
'256
'275
'270
' 308
'271
223
'274
252
236
222
250
' 272
'276
'271
'255
'277
'288
30 1
'307
'312
'307
314
328
313
313
297
'299
335
305
268
'294
373
251
416
273
301
'333
327
345
319
350
303
286
327
'266
300
251
320
'332
312
333
334
328
235
271
268
344
300
' 263
'334
320
315
312
327
328
328
322
318
'318
302
336
282
'312
'285
307
354
289
206
218
232
'225
216
226
296
341
305
'326
352
329
16, 547
6, 559
9,988
324
350
340
419
431
354
382
467
248
269
263
308
303
286
326
232
344
262
327
335
344
234
313
' 27, 397 ' 27, 627 ' 28, 020 ' 28, 491 ' 28, 757 ' 29, 053 ' 29, 149
' 13, 222 ' 13, 226 ' 13, 335 r 13, 446 ' 13, 514 r 13, 555 ' 13, 680
15, 045
14, 685
15, 243 ' 15, 498 ' 15, 469
14, 175
14, 401
265
255
*• 270
271
261
268
257
279
274
281
'284
277
274
280
202
204
205
201
205
'206
203
259
251
249
257
'262
250
249
372
375
384
376
'388
373
370
291
295
280
285
293
297
282
462
449
472
473
'472
449
447
619
628
626
621
623
627
637
' 241
'242
'234
209
228
'255
207
168
165
162
103
168
170
163
r
202
213
222
'218
' 204
219
'213
254
' 261
239
248
262
243
257
243
255
244
'236
238
244
250
357
345
355
356
'359
335
336
224
238
255
218
249
253
226
r 241
195
229
241
223
238
209
262
268
272
276
276
268
265
362
398
361
383
367
355
'424
289
253
271
273
'285
279
259
' 186
174
178
177
178
182
176
'294
247
271
'293
242
257
283
234
'231
225
237
'229
233
229
329
'332
301
288
319
293
290
29, 438
13, 763
15, 686
274
285
213
18, 082
'7,028
11, 054
328
348
330
386
421
329
410
489
'279
255
'274
316
320
397
319
306
331
291
336
267
348
223
341
255
291
308
346
230
234
268
307
34S
348
231
244
252
292
322
344
220
228
251
291
325
312
240
227
395
295
425
631
259
159
192
265
230
374
256
254
287
414
287
197
302
225
345
251
287
321
299
243
230
257
314
371
329
243
223
'252
'292
'320
'309
'248
'228
243
266
276
290
237
230
BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURN-OVER*
Operating businesses, total, end of quarter
thousands.
Contract construction
do. __
Manufacturing
do
Retail trade
_
_ do. _
Wholesale trade
do
Service industries _
_ _ _ _ _ _
do
All other
...
_ _ . do _
New businesses Quarterly
do _
Discontinued businesses, quarterly _
do
Business transfers, quarterly _ _ _ _ _ _ do. _
3, 78f . 0
2C8. 7
316.4
1,744.7
177.5
720.7
£57.9
109.5
£4.8
102.3
3,816.6
276. 3
217 6
1, 7£5. 2
179.8
726.8
560.9
85.1
54.5
98.4
i-3 848.3
" 284. 2
P
318 9
»1 766 0
»382. 2
v 733. 1
^564 0
p£6 8
*55. 0
J>76 6
INDUSTRIAL AND COMMERCIAL
FAILURES
Crand total
Commercial service
Construction
_ _ _ _ _ _
Manufacturing and mining
Retail trade
_ _ _ _ _
Wholesale trade
Liabilities, grand total
_
Commercial service
.
Construction
_
Manufacturing and mining
Retail trade
Wholesale trade
DUKber
do .
_ _ _ _ do_._
do
_ _ _ _ do. _
do
thous. of dol_
do
_ _ _ _ do_ _
do
do _
do
378
33
20
155
119
51
17, 326
739
321
10, S71
3,037
2,258
283
21
23
95
108
36
18, 982
610
664
14, 22C
1,614
1 874
299
30
17
107
105
40
37, 137
19, 863
3£4
32, 466
2,280
2,144
287
23
19
99
102
44
14, 903
655
176
10, 426
1,668
1,978
292
28
20
101
103
40
10, 034
829
444
5,964
1,390
1,407
336
29
25
98
129
55
21,322
1,074
2,301
13,337
2,289
2, 321
333
23
25
124
135
26
16,345
505
£37
12, 574
1, 531
1,198
317
23
26
112
123
33
25, 499
1,232
455
20, 937
1,908
967
356
29
23
108
153
43
12, 865
711
820
6, 892
2,837
3 705
417
44
22
151
165
35
25, 619
979
1,987
17, 987
3,410
1 346
477
47
43
136
194
57
17 481
1,883
957
9,243
3 714
1 684
404
50
30
99
175
50
15 296
1 472
1 662
7,057
2 476
2 629
426
30
31
135
158
72
13 814
1 058
588
7, 030
2 679
o 459
2,870
2,893
2,595
2,494
2,612
3,269
2,767
3,160
3,688
2,479
2,995
2 869
2 594
BUSINESS INCORPORATIONS
New incorporations (4 states)
_
number-.
' Revised. * Preliminary.
*New series. For data through 1944 for the series on operating business and business turnover, see pp. 21-23 of the May 1946 Survey and p. 10 of the May 1944 issue.
fRevised series. Description and back data for manufacturers sales and inventories are shown on pp. 8, 9, 23, 24, of the May 1948 Survey; the indexes of new orders are being revised.
S-4
SUEVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
July 1948
1948
1947
May
June
July
August
September
October
November
December
January
February
March
April
May
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMER S
Prices received, all farm productsf— 1909-14= 100. _
Crops
_
do _
Food grain
do
Feed grain and hay
do
Tobacco
do
Cotton
do
Fruit
do
Truck crops
do
Oil-bearing crops.
_ _.
_ _do
Livestock and products
do
Meat animals
do _ _
Dairy products
do
Poultry and eggs
do ._.
Prices paid:*
All commodities.-.
— . 1910-14=100.
Commodities used in living
do
Commodities used in production __ _ _ do
All commodities, interest and taxes
do
Parity ratio*
_do
272
268
276
218
390
270
222
286
326
275
327
241
203
271
262
253
240
390
275
228
215
318
278
338
233
205
276
263
251
253
390
289
215
189
314
286
343
244
220
276
255
246
270
383
267
177
211
308
295
349
258
224
286
254
278
297
352
252
181
179
311
315
367
282
246
289
261
302
284
357
247
166
238
344
313
360
283
251
287
268
312
283
354
257
151
272
349
304
338
293
242
301
281
318
305
377
275
149
294
367
320
352
311
262
307
284
322
318
377
267
135
320
377
328
379
313
231
279
257
251
261
374
248
136
320
333
300
331
307
218
283
262
260
284
372
256
140
295
339
302
342
298
212
291
276
268
291
371
275
142
340
351
304
347
296
214
289
267
261
282
370
284
141
262
£-.57
2.09
5.61
291
211
242
254
226
228
119
244
252
233
230
118
244
252
234
230
120
249
256
239
234
118
253
259
246
238
120
254
261
246
239
121
257
264
248
241
119
262
268
254
245
123
266
272
259
251
122
263
270
255
248
112
262
267
255
247
115
264
268
258
249
117
265
270
259
250
116
177.1
178.7
179.7
181.4
184.9
184.9
185.9
188.4
190.3
189.0
188.6
190.8
192, 1
116.8
123.4
116.8
123.6
119.2
129.5
126.5
139.1
128.3
139. 4
129.4
140.5
130.4
143.8
130.5
144.3
131.9
145.7
132.1
146.3
132.1
146.4
132.0
147. 4
v 132. 4
» 150. 5
156.0
185.0
187.6
154. 2
171.5
207.0
203.9
117.7
92.4
142.4
181.9
109.2
139.0
157.1
185.7
190.5
154.6
171.5
205.0
216.9
117.7
91.7
143.0
182.6
109.2
139.1
158.4
184. 7
193.1
155.0
178.8
202.0
220. 2
119.5
91.7
146.6
184.3
110.0
139.5
160.3
185.9
196.5
155.7
183.8
199.8
228.4
123.8
92.0
154.8
184.2
111.2
139.8
163. 8
187.6
203.5
157.8
195.2
198.2
240.6
124.6
92.1
156.3
187.5
113.6
140.8
163.8
189.0
201.6
160.3
190.1
196.6
235.5
125.2
92.2
157.4
187.8
114.9
141.8
164.9
190.2
202.7
167.9
198.4
199.6
227.0
126.9
92.5
160.5
188. 9
115.2
143.0
167.0
191.2
206.9
170.5
204.9
205.3
227.3
127.8
92.6
162.0
191.4
115.4
144.4
168.8
192.1
209.7
172.7
205.7
208.3
237.5
129.5
93.1
165. 0
192.3
115.9
146.4
167.5
195.1
204.7
171.8
204.4
213.0
224.8
130.0
93.2
165.9
193.0
116.0
146.4
166.9
196.3
202.3
171.0
201.1
206.9
224.7
130.3
93.8
166.0
194.9
116.3
146.2
169.3
196.4
207.9
171.0
205.8
217.4
233.8
130.7
93.9
166.7
194.7
116.3
147.8
170.5
197.5
210.9
171.1
204.8
218.0
244.2
131.8
94.1
168.6
193.6
116.5
147.5
RETAIL PRICES
All commodities (U. S. Department of Commerce
index)
1935-39=100
Coal (U.S. Department of Labor indexes) :
Anthracite
1923-25=100.
Bituminous
do
Consumers' price index (U. S. Department of
Labor) :§
Combined index
1935-39=100__
Apparel
do
Food
- _
- _. _ do_ _
Cereals and bakery products*
do
Dairy products*
. __
_ _ do_ __
Fruits and vegetables*
do
Meats*
.
_ do _
Fuel electricity, and ice
do
Gas and electricity*
do _
Other fuels and ice*
do
Housefurnishings
do _
Rent
__ ._
_ _ do
Miscellaneous
do
r
WHOLESALE PRICES
U. S. Department of Labor indexes:
163.2
162.7
160.8
161.4
153.6
163.8
150.6
157.4
147.1
159.7
158.5
148.0
165.7
Combined index d"
1926=100
Economic classes:
154. 5
158. 4
157.5
154.7
147.6
141.7
141.7
155.8
144.0
152.3
151.6
157.7
151.1
Manufactured productscf
do
182.0
174.9
175.5
167.0
160.2
177.6
174.7
165.3
158.6
175.5
183.9
170.8
175.1
Raw materials
_ __ do_
r
153. 0
157.9
149. 5
155.3
154.0
156.4
147.0
144.9
157.6
'152.9
154.1
152.0
145.9
Semimanufactured articles. _ „
...do
189. 1
186.7
196.7
185.3
18.1. 7
181.4
186.0
177.9
199.2
187.9
175.7
186.4
189.7
Farm products _
. _ _ _ do
213. fi
252.7
220.0
217.9
208.8
202. 3
218.0
245.5
202.4
206.0
241.4
256.3
230.3
Grains
do
226.3
219. 0
204.4
210.0
209.4
215.9
209.9
200.9
211.0
232.9
224.8
224.5
198.7
Livestock and poultry
do. _
r
155. 2
147.2
158. ].
155.7
143.6
' 155.7
140. 7
157. 3
140.6
158.1
153.3
150.8
151. 5
Commodities other than farm products cf- -do
178.4
177. 4
172.4
173.8
172.3
167.1
' 176. 7
161.8
178.0
159.8
177.8
179.9
179.3
Foods
do
156. a
160.2
170.6
158.6
153.3
154.7
158. 0
149.2
172.5
167.6
151.7
170.1
158.7
Cereal products.
do
176. 0
183.5
181.0
184.8
179.8
164.3
152.8
140.9
175.9
138.8
183.9
170.6
167.3
Dairy products
do
r
135.4
147. (i
144.8
133.0
148. 6
«• 145. 7
139.7
145.2
141.1
135.5
130.8
144.3
130.1
Fruits and vegetables
. _ _ _ do
233.2
234. 6
214.8
2C6.2
226.0
217.1
217.9
208.6
217.6
230.0
203.0
222.3
244.8
Meats
_
do
Commodities other than farm products and
145.6
148. &
136.0
147.5
147.7
142.4
131.4
' 148. 6
148.2
133.4
138.2
140.0
131.9
foods cf
1926 — 100
191.0
179.7
196.3
192.6
193.1
174.4
r 194. 9
193.1
187.5
185.8
177.0
183.3
175.7
Building materials
. _ do
148.8
151.1
144.3
151.6
152.8
152.5
134.7
147.3
150.9
145.6
143.3
134. 5
145.4
Brick and tile
do
116.9
121.6
128.2
127.2
127.4
114.9
114.3
127.5
126.4
120.6
120.1
114.0
119.0
Cement
do
r
303.2
312.9
276.7
266.1
309. 2
303.8
•• 303. 8
290.0
307.3
295.6
269.0
269. 4
285.7
Lumber.
_ _ _ do
164.0
154. 9
157.8
159.6
156.7
157.9
161.4
156.1
159.6
161.8
163.2
157.9
169.2
Paint and paint materials
do
134.7
135.0
136.1
117.5
120.2
•• 136. 2
134.6
135.8
138.8
122.3
128.6
118.8
127.1
Chemicals and allied products f
do
125.9
124.1
126. 8
126.5
126.8
117.5
124.3
118.2
119.9
118.7
125.8
122.1
118.7
Chemicals.
_
do
153. 3
154.4
136.6
154.9
151.1
153.8
154.3
137.4
156.1
154.4
136.6
137.5
173.6
Drug and pharmaceutical materialsf. .do
115.0
114.4
115.2
114.9
105.5
114.8
112.0
103.5
101.8
109.8
102.5
115.6
111.3
Fertilizer materials. _
do
205. 0
211.4
r 212. 3
215.9
201.5
226. 7
133.3
193.4
139.2
236.7
134.8
163.3
179.9
Oils and fats
_ do_
130.9
132.6
124.3
114.1
131.6
130. 7
112.5
118.1
108.9
103.9
115.9
103.3
130.0
Fuel and lighting materials.
do
65.7
66.5
66.6
64.5
66.3
66.4
65.2
65.0
64.9
64.4
64.1
Electricity
_do___
85.4
88.7
86.0
89.1
85.8
83.6
84.5
85.5
87.0
85.0
85.8
86.8
Gas
do___
122.1
121.8
92.2
112.0
121.8
121.7
99.9
89.8
87.5
120.7
93.7
86.8
96.5
Petroleum products
do
182.1
187.5
186.1
203. 1
' 185. 4
178.4
192.8
202.4
173.2
184.8
200.3
191.7
170.8
Hides and leather products
.do
218.0
221.1
199.3
256.9
207.2
186.2
215.6
263.4
203.5
187.1
238.9
243.7
177.7
Hides and skins
do
188.2
183.6
216.2
199.9
«• 185. 9
190.7
216.0
197.4
187.4
209.2
176.3
204.3
178.9
Leather
._
do
174.9
191.7
190.7
175.2
173.2
185.6
' 193. 8
187.0
194.7
178.0
172.6
194.3
172.2
Shoes
_ _
do
r 142. 3
129.7
139.7
r 142. 0
130. 6
142.7
137.7
129.8
129.2
141.8
141.4
132.3
128.8
Housefurnishing goodsf.
_._
do
138.1
142.8
140.0
138. 1
144.4
' 144. 7 r 145. 2
138.5
137.2
145.8
143.9
139.3
136. 9
Furnishings
.
do
139.7
132.1
129.3
136. 8
139.4
139.4
135. 6
129.7
139.7
135.0
129.4
129.3
139.1
Furniture f
do
148.9
157.1
' 157. 2
152.3
150.7
143.8
155.3
155.9
151.7
154. 7
141.4
142.6
151.1
Metals and metal products c?
do
139.4
142.2
r 149. 4
140.4
133.3
131.4
141.3
140.8
148.8
146.3
147.7
145.5
128. 6
Iron and steel
do
141.8
143.0
142.2
149.8
142.0
141.8
150.0
146.8
142.0
143.9
142.9
146.8
145.5
Metals, nonferrous
do
128.6
136.1
138.7
136.0
135.9
136.0
123.4
119.1
143.2
138.7
138.7
137.9
120.0
Plumbing and heating equipment
do
r
Revised, v Preliminary.
§ In August 1947 the number of foods included in the index was reduced from 61 to 50. Beginning July 1947 a new schedule was adopted for collecting prices of apparel, housefurnishings,
and miscellaneous goods and services; prices for these groups are obtained in 10 key cities each month and in 24 other large cities quarterly; prices are collected for 8 of the 24 quarterly cities
each month; information on rents is obtained at least quarterly in each of the 34 cities; national averages for the indicated groups and for rents are weighted averages of indexes for cities surveyed during the month and estimated changes for other cities in the index. For January-June 1947 rent changes were estimated from a survey of 5 or 6 cities each month.
cf Current prices on motor vehicles were introduced into the calculations beginning October 1946; April 1942 prices were carried forward in earlier computations; see previous issues of the
Survey for explanation and for October 1946-April 1948 indexes using April 1942 prices; May 1948 indexes using April 1942 prices are as follows: All commodities, 161.3; manufactured
products, 154.3, commodities other than farm products, 155.0; commodities other than farm products and foods, 144.9; metals and metal products, 138.8.
*New series. The series on prices paid by farmers and the parity ratio are from the U. S. Department of Agriculture; the latter is the ratio of prices received to prices paid, interest and
taxes; data for 1913-45 will be shown later. For a description of the Department of Commerce index of retail prices of all commodities, see p. 28 of the August 1943 Survey, and for revised
figures for 1929,1933, and 1935-44, p. 31 of February 1946 Survey. Data for 1923-45 for the indexes of retail prices of the food subgroups are shown on p. 16 of the November 1946 Survey. Data
beginning 1935 for the indexes of retail prices of "gas and electricity" and "other fuels and ice" will be published later.
fKevised series. Indexes of prices received by farmers for 1913-45 are shown on pp. 17-19 of the April 1947 Survey; data for June 15,1948, areas follows: Total 295; crops, 261; food grain,
249; feed grain and hay, 278; tobacco, 370; cotton, 284; fruit, 155; truck crops, 213; oil-bearing crops, 364; livestock and products, 326; meat animals, 390; dairy, 291; poultry and eggs, 221. For
revised data for 1941-43 for the indicated series on wholesale prices, except the furniture index, see p. 23 of the November 1945 Survey. The index of wholesale prices of furniture has been revised beginning January 1943; revisions prior to 1947 will be shown later; the revision has been incorporated in the group index and other composite indexes only beginning November 1947.
SURVEY OF CURRENT BUSINESS
July 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-5
1948
1947
June
May
July
August
September
October
November
December
January
February
March
April
May
COMMODITY PRICES—Continued
WHOLESALE PRICES—Continued
U. S. Department of Labor indexes— Continued
Commodities other than farm, etc— Con.
Textile products
1926=100..
Clothing
do
Cotton goods
do
Hosiery and underwear
do
Rayon
do __
Silk
do
Woolen and worsted goods
do __
Miscellaneous
do
Automobile tires and tubesf
do
Paper and pulp
_ _ do
Wholesale prices, actual. (See respective commodities.)
138.9
133.9
193.0
100.8
37.0
67.9
129.2
116.1
66.7
154.3
138.9
133.9
193.8
100.8
37.0
68.4
129.2
1
112. 7
62.5
154.2
139.5
134 3
195.9
100.4
37.0
68.2
130.1
113.0
60.8
157.2
140.8
134.3
199.2
99.9
37.0
68.2
133.3
112.7
60.8
157.6
142.0
134 4
54.7
64.1
53.2
39.2
54.4
63.6
52.4
39.3
53.3
63.1
51.7
38.5
52.4
62.4
50.8
38.5
147.6
136 3
213.5
103.0
40.0
73.3
139.6
121.5
63.4
164.7
147.6
140 4
214.8
104.4
40.7
46 4
141.6
123 5
63.4
168.1
148.4
143 0
214.9
105.0
40.7
46 4
142.8
119 9
63.4
167.1
' 149. 8
100.0
37.0
71 2
134.2
117.1
60.8
159.8
144.7
135 6
209.1
101.4
37.0
73 3
134.9
118 8
61.0
160.7
144 6
218.3
105.4
40.7
46 4
r
145. 7
120 8
63.4
167.0
149.6
145.8
216.7
105.4
40.7
46.4
147.5
121.8
63.4
167.5
149.6
145.8
215.2
105.4
40.7
46.4
147.5
121.5
63.4
167.4
50.8
61.1
49.6
36.8
50.4
60 6
49.5
37.0
49.3
59.9
48.3
35.3
48.6
59 2
47.7
34.7
50.0
59 7
48.9
38.1
49.9
59 9
49.4
37.7
49.5
59 1
48.1
36.6
49.1
58.7
47.4
36.8
1,166
940
475
1,302
1 015
525
1,445
1 106
575
263
116
37
190
287
6
13
71
2
98
99
278
112
50
203
339
5
13
77
2
136
108
143.0
134 7
202.3
204.6
99.9
37.0
68 3
133.8
115 9
60.8
159.5
51.1
61.1
49.1
37.2
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
Consumers' prices
Retail food prices
Prices received by farmerst
. 1935-39=100-.
do
. _ do
-do
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY*
New construction, total
mil. of dol—
Private total
do
Residential (nonfarm)
_ _ do
Nonresidential building, except farm and public
utility, total
mil. of dol..
Industrial
do .Farm construction
- do
Public utility
do .
Public construction total
do
Residential
do __
Military and naval
do
Nonresidential building, total
do _.
Industrial
_ .
do
Highway
do _All other
do
1,032
790
355
1,162
885
405
1,264
966
455
1,364
1,042
500
1,423
1,086
540
1,497
1,129
590
1,432
1,141
630
1,320
1 097
610
1,157
948
500
1,009
837
400
242
141
40
153
242
9
15
42
3
100
76
250
140
50
180
277
8
15
43
2
125
86
254
139
60
197
298
9
19
42
2
137
91
260
139
75
207
322
8
22
45
1
149
98
267
138
66
214
337
7
22
49
1
159
100
275
137
50
214
368
9
23
53
1
178
105
287
136
25
199
291
8
19
50
284
134
15
188
223
8
17
52
265
125
14
158
172
6
11
49
1
41
65
27, 769
674, 657
233, 873
440, 784
24, 044
605, 070
226, 471
378, 599
28, 734
660, 254
202, 571
457, 683
31, 886
823, 216
27, 185
649, 996
192, 660
457, 336
4,554
30, 238
235, 899
4,355
27, 561
209, 942
4,912
32, 123
253, 512
290, 807
42, 672
254, 085
21, 255
17, 604
29, 213
209, 458
21, 568
36, 774
240, 885
1,607
119, 713
1,744
142, 495
353
64, 960
266
120
23
176
226
5
' 12
65
1
57
87
119
95
65
81
273
130
14
161
209
9
14
53
1
56
77
36, 339
793, 286
208, 947
584, 339
29, ?93
715 108
223, 505
491 603
21, 696
625 363
207, 481
417 882
23, 125
615 206
196 530
418 676
20, 557
681 967
248,- 443
433 524
27, 999
689 763
181 044
508 719
37, 061
873, 882
236, 330
637 552
37
970
298
672
4,213
24, 114
239, 915
5,134
33 478
277 888
4,249
28 552
243, 416
3, 252
33 088
244, 495
3 295
27 719
240 544
3 205
29 097
272 395
3 622
25 671
248 939
T
4, 746
34 478
337, 603
4 907
40 413
395 971
24, 789
47, 805
308, 937
21, 154
30, 037
268, 543
29, 473
52, 302
349 490
24, 147
42 696
290 220
17, 402
32 192
226 796
18, 899
32 183
238 098
16, 336
31 474
232 250
23, 227
35 385
276 541
30, 448
46 526
351 604
30 320
51 710
369 780
1,910
127, 454
1,761
137, 471
1,522
110, 556
1,425
112 726
1,114
138 606
809
113 289
718
108 891
803
143 033
915
109 596
1 524
132 598
1 659
159 700
341
43, 175
344
38, 403
420
86, 001
296
30, 982
307
53 182
283
42 866
233
40 783
213
27 673
213
34 289
235
54 687
343
52 077
396
45 338
153
130
127
110
158
127
136
116
170
138
155
136
173
148
166
150
184
168
183
168
175
164
184
170
173
157
193
163
159
137
197
161
156
126
191
152
161
135
187
152
182
156
181
148
514, 343
517, 175
524, 238
413, 494
494, 805
575, 089
474, 357
503, 384
441, 955
474, 643
508, 096
777, 159
535, 184
3,828
4,228
3,285
2,760
3,260
2,349
2,863
4,386
5,073
2,456
1,723
6
1 040
677
2,304
2,607
5,011
169
5,124
10
3 187
1 928
(a)
(a)
CONTRACT AWARDS
Contract awards, 37 States (F, W. Dodge Corp.):
Total projects
_ _
number. _
Total valuation
thous. of dol
Public ownership
do _
Private ownership
do
Nonresidential buildings:
Projects
number
Floor area
thous. of sq. ft
Valuation
thous. of dol
Residential buildings:
Projects
_
_ _ number..
Floor area
. thous. of sq. ft.
Valuation
thous. of dol
Public works:
Projects
_ _ - number
Valuation
thous of dol
Utilities:
Projects
_. _ _ number
Valuation _ _ _
thous. of dol
Value of contracts awarded (F. R. indexes):
Total, unadjusted
__.
1923-25=100.Residential, unadjusted _ __
_
do_ __
Total, adjusted
do
Residential, adjusted
do
Engineering construction:
Contract awards (E. N. R.)§
thous. of dol. Highway concrete pavement contract awards:^
Total
thous. of sq. yd._
Airports
do
Roads
do. Streets a n d alleys
_ _ _ _ _
do
35
1,186
212
1,560
2,452
2,390
217,811
605, 405
4,915
41,682
79
1,468
1,737
163
1,133
1,464
203
1,946
1 110
5
1 592
752
124
1 776
963
10
1 425
869
361
2 654
1 371
' 206
r i8i
' 181
' 154
353
2 734
1 986
282
789
213
576
v 230
195
191
P 165
P
P
NEW DWELLING UNITS AND URBAN
BUILDING
New permanent nonfarm dwelling units started (U.
72, 900
S. Dept. of Labor)*
number
77, 200
47 200
86, 300
81, 100
93 800
79 700
94 000
58 800
50 000
92 000
70 000
97 000
Urban building authorized (U. S. Dept of Labor):
r
r
41, 112
46, 986 r 47, 203 -•51,313 ' 52, 152 r 56, 330 ' 41, 875 ' 36, 452
'
Urban dwelling units, total t
number. _
33, 343
33, 289
50, 945
52, 964
64, 637
Privately financed, total
do
47, 167
Ml, 112 r 45, 981
'51,121 '51,877 ' 55, 870 Ml, 010 * 36, 088
32, 166
32, 523
50, 860 ' 64, 383
52, 231
1 -family dwellings
_ _ _ _ d o . r 33, 644 r 34, 591 r 36, 973 r 39, 233 r 40 834 r 42 825 r 30 284 T 26 596
22 180
23 704
37 590 r 45 700
41 341
2-family dwellings
do
' 3, 085
' 3, 521 ' 2, 992
3,053
' 3, 480
3,536
3,316
4,094
1,863
2,443
2,280
3,706
' 6, 993
r
r
r
r g 509
Multifamily dwellings
_ _ . do .,
4,383
7, 141
r 7 049
r g 051
7,910
8, 367
8 123
7 410
6 539
9 176 ' 11 690
7 184
Publicly financed, total.
do
1.005
0
364
820
8K
954
rSfifi
275
4fiO
129
36
1. 12fi
' 733
' Revised. » Preliminary, i See note marked "t" regarding revision incorporated in the index beginning June 1947. («) Less than $500,000.
§ Data for, May, July, and. October 1947, January and April 1948 are for 5 weeks; other months, 4 weeks.
t Based on weekly data combined into 4- and 5-week periods except that a week falling in December and January is prorated; see note in February 1947 Survey.
*New series. Data for a number of items under new construction activity have been revised beginning 1945 and there have been revisions in earlier estimates for some series; revised figures
from the earliest year available are published in a supplement to the May 1948 issue of the Department of Commerce Industry Report on Construction and Construction Materials. The series
for new permanent nonfarm dwelling units replaces the one previously used, "Estimated number of new nonfarm dwelling units scheduled to be started." It differs from the latter in two
respects. First, the part of the estimates based on building permit records has been adjusted for lapsed permits and for lag between permit issuance and start of construction, beginning with
1945. Thus, the new series represents units actually started. Such adjustment was unnecessary prior to 1945 when most building was begun during the month of permit issuance. Secondly,
the new series excludes all temporary dwelling units, since these do not add to the country's permanent housing inventory. Data beginning 1910 are available upon request from the U. S
Department of Labor.
t The index of purchasing power of the dollar based on prices received by farmers was revised in April 1944 Survey. Data for 1920-44 for new urban dwelling units authorized (formerly
designated scheduled to be started") are shown on p. 15 of the November 1946 Survey (unpublished minor revisions for January 1946-April 1947 are available upon request); these data and
the indexes of urban building, p. S-6, represent the building for which permits were issued and Federal contracts awarded, including an estimate of building in small urban places that do not
issue permits; the data do not refer to building actually started. The index of prices of tires and tubes has been revised beginning 1939 (see note in June 1948 Survey); the revision has been
incorporated in the group and other composite indexes only beginning June 1947.
SURVEY OF CURRENT BUSINESS
S-6
July 1948
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
May
June
July
August
1948
September
October
November
December
January
February
March
April
May
CONSTRUCTION AND REAL ESTATE—Continued
NEW DWELLING UNITS, ETC.— Con.
Indexes of urban building construction, authorized
(U. S. Bept. of Labor) :t
Number of new dwelling units authorized
1935-39= 100. _
Permit valuation:
Total building construction
do
New residential buildings
do
New nonresidential buildings
do
Additions, alterations, and repairs
do
' 237. 1
271.0
271.9
295.9
300.9
324.5
241.9
210.2
192.3
192.0
293.4
' 372. 8
307.8
' 345. 1
338. 5
r
165. 4
r
241. 1
278.2
387.7
180.9
284.2
306.1
405.4
217.8
311.5
323.5
447.9
232.4
279. 9
319.5
459.1
216.7
298.1
344.7
516.2
216.5
291.9
285.5
399.8
211.9
219.8
274.0
345.8
228.6
230.8
243.7
309.7
196.2
218.8
236.8
315.9
182. 2
200.6
360.9
484.5
287.2
274.9
r 408. 6
>• 622. 9
' 253. 0
' 330. 1
373.4
530.4
261.8
310.0
Aberthaw (industrial building)..1914=100..
American Appraisal Co.:
419
Average, 30 cities
1913=100
448
Atlanta
do
432
New York
_
__ do.
392
San Francisco
do
105
St. Louis
do.
Associated General Contractors (all types)
290
1913=100..
E. H. Boeckh and Associates, Inc.:
Apartments, hotels, and office buildings:
Brick and concrete:
155. 4
Atlanta
.U. S. average 1926-29=100..
205.9
New York
do
178.4
San Francisco
_ do_ _
182.8
St. Louis
do
Commercial and factory buildings:
Brick and concrete:
154.3
Atlanta
_
do
207.0
New York
do
180.8
San Francisco .
.
do
185.4
St. Louis
do
Brick and steel:
154. 4
Atlanta
do. .
203.6
New York-.
_
do
181.1
San Francisco .
_
_.do_ _
182.1
St. Louis
do
Residences:
Brick:
180.4
Atlanta
do
219.3
New York
_
_ _ do.
189.0
San Francisco
do
202. 2
St. Louis
_ do.
Frame:
184.1
Atlanta
do
221.8
New York
_
do.
187.4
San Francisco
. do. _
202. 2
St. Louis
,
do
Engineering News-Record:
307.4
Building*.
1913=100.
406.6
Construction (all types) of
do
Federal Home Loan Bank Administration:
Standard 6-room frame house:!
183.7
Combined index
1935-39—100
189.1
IVTaterials
do
175.5
Labor
do
REAL ESTATE
Fed. Hous. Admn., home mortgage insurance:
Premium -paying mortgages (cumulative)
7,147
mil. of dol_.
Estimated total nonfarm mortgages recorded
965, 733
($20,000 and under)* ..
thous. of dol
Estimated new mortgage loans by all savings and
335, 074
loan associations, total
_ thous. of dol.
Classified according to purpose:
Mortgage loans on homes:
78,612
Construction
do
186, 148
Home purchase. _
.
.
. do. .
28, 383
Refinancing..
_
do.
11, 558
Repairs and reconditioning
do
30, 373
Loans f o r a l l other purposes _ _ _ _ _ d o _ _
Loans outstanding of agencies under the Home
Loan Bank Board:
Federal Home Loan Banks, outstanding advances
257
to member institutions
mil. of dol
Home Owners' Loan Corporation, balance of
570
loans outstanding
mil. of doL__
Foreclosures, nonfarm, index, adjusted t
'6.6
1935-39=100..
56, 545
Fire losses
. _ thous. of dol
300
427
448
438
396
421
437
458
442
409
430
446
470
448
417
441
452
475
452
424
446
456
479
469
427
449
464
494
480
429
456
468
501
488
433
459
472
505
491
435
462
475
508
495
436
469
478
514
502
437
470
481
515
503
441
471
485
523
503
439
470
294
295
300
307
312
314
318
320
321
321
321
321
160.3
211.2
186.6
187.8
162. 4
215.5
188.9
189.9
164.1
216.4
192.5
191.2
165.0
218.5
195.4
192.2
165.5
219.0
196.2
193.6
166.9
219.8
196.8
194.9
168.6
225.1
199.8
198.1
172.1
225.2
201. 6.
199.4
172.4
233.9
201.9
200.2
173.6
235.9
202.7
200.6
173.6
237. 1
202.8
200.6
173. 9
237. 4
202.9
208.7
159.6
212.5
190.6
187.8
161.2
214.9
192.4
189.4
162.3
216.0
197.4
190.8
163.0
217.4
199.6
191.5
163.4
217.8
200.2
192. 5
164.5
218.4
200.6
193.4
166.7
224.6
206.8
200.9
172.7
224.8
208.9
202.3
172.9
237. 0
209.1
202.9
175.3
238.5
209.5
203.0
175.3
239. 3
209. 6
20^.0
175. 5
239. 5
209. 7
210.7
158.8
206.6
188.0
187.5
161.4
209.4
190.8
190.1
165.0
210.4
195. 7
192.3
165.8
213.8
198.9
193.4
166.2
214.2
199.5
194.5
169.4
215.1
200.2
196.3
171.4
220.0
202.9
199.6
173.8
220.1
203.9
200.4
174.0
229.9
204.1
201.3
175.3
232.1
204.4
201.5
175. 3
234. 5
204. 6
201.5
175.5
234. 7
204.8
209.0
184.0
223.4
195.1
205.6
185.4
225.5
196.7
207.0
185.6
225.9
198.4
207. 5
186.9
228.7
207.1
210.7
187.3
229.1
207.7
212.1
189.3
231.3
209.7
217.5
191.9
242.7
212.7
220.6
194.4
239.2
213.8
221.4
194.6
244.8
214.0
223.6
196.2
248.6
214.9
223.8
196.2
249.3
214.9
223.8
196. 4
249.5
215. 6
230.0
187.9
225.0
194.0
207.2
189.3
227.1
195.6
208.6
189.5
227. 5
196.3
209.0
191.0
231.0
206.2
213. 0
191.4
231.4
206.8
214.0
194.0
234.1
209.3
220.9
196.7
238.8
210.5
224.0
198.5
243.2
211.5
224.8
198.7
246.4
211.7
227.5
199.7
250.7
212.7
227.5
199.7
251. 6
212.7
227.5
199. 9
251. 8
213.6
234. 2
308.9
413.8
317.8
422.9
322.6
426.4
327. 3
434.6
329.2
436.9
333.1
441.1
333.6
441.7
335. 5
442.7
334.2
443.6
334.6
443.0
333.9
447. 9
339. 3
455. 8
184.8
189.0
179.2
185.1
188.5
181.0
7,377
7,473
7, 593
7,691
7,816
CONSTRUCTION COST INDEXES
304
307
325
310
7,217
7,295
7,954
8,084
8,244
8, 396
8, 547
947, 357
994, 787
988, 446 1,022,648 1, 103, 030
954, 569 1, 006, 626
909, 447
826, 874
955, 441
993, 678
999, 453
323, 368
353, 105
351, 757
356, 871
376, 000
311, 292
310, 201
273, 202
254, 581
318, 602
336, 947
332, 441
69, 700
184, 626
28, 948
11, 963
28, 131
85, 867
194, 057
28, 936
13, 410
30, 835
83, 355
200, 183
25, 263
13, 018
29, 938
86, 097
203, 443
27, 322
12, 297
27, 712
95, 364
208, 488
28, 523
13, 213
30, 412
76, 718
170, 831
24, 747
10, 415
28, 581
82, 234
163, 703
26,042
9,806
28, 416
70, 274
140, 122
25, 856
8,679
28, 271
66, 894
126,462
23, 511
8,374
29, 340
97, 325
146,213
29, 677
11,519
33, 868
97, 458
156,701
30, 973
14, 189
37, 626
93, 315
161, 309
29, 40C
14, 3CS
34, 10S
289
292
314
336
360
391
436
392
373
374
397
418
557
544
532
520
508
497
486
475
465
454
444
434
'7.0
50, 840
'6.9
49, 357
'6.9
51,359
'6. 6
47, 990
••6.6
54, 946
'5.8
51, 346
'6.7
68, 361
'6.5
63, 010
6.8
71, 521
7.0
74, 236
63, 751
59, 256
277
314
330
200
258
312
269
312
313
199
229
320
258
301
291
205
290
303
289
350
321
242
312
319
294
'392
333
'247
294
314
P302
»39&
v 343
250
329
312
DOMESTIC TRADE
ADVERTISING
Advertising indexes, adjusted:!
Printers' Ink, combined index
1935-39=100..
Farm papers cf
do
Magazines
do
Newspapers
do. _
Outdoor
.
_ do
Radio
do
281
320
'338
229
295
r
288
284
331
342
230
287
289
263
283
298
215
303
284
262
308
280
218
319
291
281
309
331
217
289
298
284
321
335
214
287
309
>-290
'351
' 346
227
322
308
7
on p. S-5.
nuary 1939 to September 1942 see p. S-5 of the November 1942 Survey. See note in the Februlex of building costs; revisions for November 1946 to March 1947, inclusive: 280.0; 294.6; 301.6; 303.3; 305.2.
I -txeviseu series. ± ue IIIUCA ui uuiiiarui luiwiusuies juaa ueen revised beginning 1938 because of changes in the seasonal adjustment factors and discovery of certain errors in reporting; revise:!
data for Jniiueu y 1938—April 1947 nic avaiiauic upon request. J.HU.CA.OO ui ciu-vci 1/101115 from j. j U-LI/^IO AIJ.JV j_ici v been completely revised and. all series are now based on dollar costs; data beginning
until iui January i»oo—-tvpj. 1.1 i»t/ are available upuu. ic^ucot. Indexes of advertising IHJIAJ. Printers' Ink have
1935 and a description of the indexes will be published later. The indexes of cost of the standard 6-room fr;
frame house are shown on a revised basis beginning in the April 1946 Survey; revisions
beginning November 1935 will be published later; the indexes were discontinued after June 1947.
SUEVEY OF CTJKRENT BUSINESS
July 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-7
1948
1947
May
June
July
August
September
October
Novem-
ber
Decem-
ber
Janu-
ary
Febru-
ary
March
April
May
DOMESTIC TRADE—Continued
ADVERTISING— Continued
196.2
202.9
218.3
225.9
231.1
221 4
220 8
210 1
16, 009
573
111
801
412
4,120
499
177
1,722
1,433
4,784
1,877
14, 994
505
100
275
400
3,883
499
167
1,606
1,430
4,516
ls 613
14, 227
441
130
314
381
4,106
432
172
1,542
1, 595
3,982
1,132
14, 461
485
187
278
393
4,268
439
172
1, 483
1, 568
3, 868
1,318
15, 252
527
151
345
367
4,402
428
156
1,715
1,580
4, 268
1,314
17 376
597
139
379
471
5,128
420
168
1,704
1,809
4,967
1,594
16 905
739
195
333
440
4,907
450
172
1,499
1,662
4,688
1 820
17 7-80
728
92
511
464
5,203
504
152
1,647
1 848
5,033
1,600
42, 801
2,601
4,661
1, 541
698
5,246
627
3,530
1,182
995
860
6,120
14, 740
4,332
40, 033
2,772
3,125
1,376
654
5,348
683
2,667
1,173
763
1,125
5,926
14,421
3,413
3, 377
4,132
i 99, 308
i 7, 555
1110, 191
3, 872
i 1, 567
1
13, 543
i 2, 142
1
6, 051
i 2, 558
1
1,650
1
2, 827
1
12, 771
1
34, 582
4,738
172, 376
41, 301
131, 076
6,512
1,950
28, 210
94, 403
163, 130
39, 341
123, 789
7,014
1,933
26,011
88, 831
145, 263
37, 778
107, 485
6,214
2,299
22, 467
76, 505
157, 980
40, 625
117, 355
6,107
1,769
22, 881
86, 597
89.2
88.7
88.1
88.3
thousands
thous. of dol__
4,280
89, 824
4,177
87, 284
4,334
87, 320
3,822
81, 664
thousands
thous. of dol__
13, 771
188, 244
16,948
178, 353
13, 253
186, 565
12, 587
166, 697
Tide advertising index, adjusted*
1935-39—100
Radio advertising: §
Cost of facilities, total
thous of dol
Automobiles and accessories.
.do
Clothing
do
Electric household equipment .. _ _
do
Financial
_
do
Foods, food beverages, confections
_ do
Gasoline and oil
_ _
do
Housefurnishings, etc
do
Soap, cleansers, etc
_ _ _ _ _
do
Smoking materials
do
Toilet goods, medical supplies
_
do
All other
do
Magazine advertising:
Cost, total
_ _ _ _ _ _
do
Automobiles and accessories
do
Clothing
_
do
Flectric household equipment
do
Financial
_ _ _
_
do
Foods, food beverages, confections
do
Gasoline a n d o i l
_ _ _ _ _ _
do
Housefurnishings, etc
do
Soap, cleansers, e t c _ _ _ _ _
do
Office furnishing and supplies
do
Smoking materials _ _ _
_
do
Toilet goods, medical supplies
do
All other _
_ _
do
Linage, total
thous. of lines..
Newspaper advertising:
Linage, total (52 cities)
_ _ _
do
Classified
do
Display, total
_.
- d o
Automotive
do
Financial
_
._
do
General
do
Retail
do
2
17 544
693
121
569
450
5,000
585
254
1,544
1 798
4, 991
1 538
16 715
' 717
133
543
482
4,766
564
232
1,452
1 595
4,694
1 535
17 803
699
118
603
511
5,122
536
225
1,734
1,770
5,031
1,456
47, 992
27 688
37, 486
3 450
2 604
2 771
6,121
3 640
1 887
2,446
' 1,012
' 1, 590
726
666
585
' 4 517 ' 6 311 6,748
640
381
304
' 1 117 ' 1 916 2,802
1,104
' 613 ' 1, 155
850
495
414
990
883
918
'3 793 ' 5 584
' 9, 923 ' 12, 094
4, 581
4,175
3,641
4,391
4,763
4, 474
126, 436
2
7 308
13 191
2
7, 017
2
1, 833
2
17 399
2
1, 331
2
9 952
2
2, 585
2
2 532
2
3, 073
2
15 691
2
44, 524
3,229
198, 478
44, 141
154, 337
6,552
2,194
33, 444
112, 148
194, 808
41, 447
153, 361
5,957
2,033
32, 004
113, 367
186, 913
37, 530
149, 383
5,215
1,986
24, 935
117, 247
155, 428
39, 600
115, 828
5 180
2,896
20 404
87, 348
167, 945
40, 048
127, 897
6,181
1,869
25, 477
94, 369
189, 555
43, 985
145, 571
6,394
2,225
28, 106
108, 846
197, 221
45, 848
151, 373
7,047
2,295
30, 475
111, 557
86.8
87.6
88.1
88.2
88.5
89.2
'88.8
87.4
4,041
89, 874
4,401
91, 665
4,185
85, 095
4,710
91, 655
4 586
92, 651
4 339
86, 412
5,281
106, 540
5,122
95, 871
4 470
88, 565
13, 334
197, 141
15, 371
223, 262
13, 922
196, 844
15 652
214, 581
14 412
201, 299
13 135
186, 247
16, 749
240, 369
15, 552
220, 748
14 252
198, 921
' 10, 614
' 2 832
' 1, 242
1,086
'156
' 878
'567
98
' 214
'632
'405
r
227
82
10, 708
2 716
1,089
931
158
894
586
93
216
638
420
218
95
173, 871
41, 610
132, 262
5,438
1,809
27, 171
97, 843
2
4,288
197
47
150
7
2
31
109
809
643
166
557
120
092
396
GOODS IN WAREHOUSES
Space occupied in public-merchandise warehouses
percent of total. .
87.7
POSTAL BUSINESS
Money orders:
Domestic, issued (50 cities):
Number
__
Value
Domestic, paid (50 cities):
Number
_
Value
_
PERSONAL CONSUMPTION EXPENDITURES
Seasonally adjusted quarterly total at annual rates : *
All goods and services
bil. of dol
Durable goods
*
_ do
Automobiles and parts
do
Furniture and household equipment
do
Other durable goods
. _ do
Nondurable goods
do
Clothing and shoes
do
Food and alcoholic beverages
_
do
Gasoline and oil
do
Semidurable house furnishings. _ _ _
do
Tobacco _
_ _ _ _ .
do
Other nondurable goods..
do
Services
_ do
Household operation
do
Housing
do
Personal service _ _
_ _
do
Recreation
do
Transportation
_ _
do
Other services
do
' 164. 2
'21.1
r
7. 4
'9.8
3.9
'96.3
19.6
'57.5
'3.7
'1.8
'3.9
'9.8
'46.7
'6.9
' 14. 1
3.2
'3.8
4.4
'14.3
' 165. 6
'21.1
' 171. 1
'22.1
'172 3
'21.4
'9.9
3.9
'96.8
'19.2
'58.3
'3.6
'1.8
'3.9
'10.0
'47.7
' 10 3
'4.0
' 100. 2
'20.0
' 59 6
'3.8
1.9
'40
' 10.9
'48.8
'9 8
'3 8
'101 3
r
18.6
'61 7
'3 9
'1 9
'3 Q
r
11.3
'49.6
'14.6
3.2
'38
'4.5
' 14. 5
' 15 2
3 2
'38
'4 5
' 14.8
r 15 4
3 2
'3 8
4 5
'15 1
RETAIL TRADE
All retail stores:f
Estimated sales, total
.mil. of dol_.
Durable goods store
do
Automotive group
do
Motor vehicles
do_.I.
Parts and accessories
do
Building materials and hardware
do
Building materials
do
Farm implements
do
Hardware
.do
Homefurnishings group
do
Furniture and housefurnishings
do
Household appliance and radios
do
Jewelry stores
do
10, 020
2,436
993
847
147
744
461
79
204
593
397
196
106
9.489
2,402
987
839
148
741
476
77
187
570
368
202
104
9,357
2,403
1.014
'861
153
770
509
77
184
536
334
202
84
9,629
2,396
994
839
155
763
514
70
179
550
347
203
89
10, 141
2 582
1,052
899
152
839
575
71
193
594
385
210
97
10, 910
2,831
1,148
988
160
941
645
92
204
641
408
233
101
10, 727
2 638
1,070
910
160
796
528
71
197
651
425
225
121
12, 657
2 958
1,080
911
168
809
495
62
252
791
496
295
279
9,695
2 316
1,062
946
117
680
450
71
159
496
310
186
78
8,921
2 137
995
886
109
606
398
61
146
466
294
172
71
10, 633
2 678
1,272
1.133
139
757
491
82
183
571
362
209
78
» Kevised.
.
* Total for July, August and September. 2 Total for October, November and December.
$ Biginning January 1948, data include advertising in farm magazines and several other magazines not included previously and data for stoves and ranges other than electric formerly
classified under house furnishings, are included under electric household equipment and there have been additional minor changes in the classifications. More complete information on these
changes will be published later.
*New series. For a brief description of the Tide index of advertising see note marked "*" on p. S-6 of the April 1946 Survey, data beginning 1936, are available on request. The estimates
of consumption expenditures have been recently revised beginning 1944; revised figures for 1944-47 for the grand total and for total durable goods, nondurable goods, and services are shown as a
component of gross national product on p. 28 of this issue; earlier figures for these series and detailed annual estimates of consumption expenditures for 1929-44 are available in the "National Income Supplement" referred to in note marked "*" 011 p. S-l; quarterly data beginning 1939 for all series will be published later.
fRevised series. See note marked "t" on p. S-7 of the September 1947 Survey for reference to tables giving data through June 1944 and 1945 revisions for sales of all retail stores; the seasonally adjusted indexes beginning 1942 shown in those tables arid later data published currently on p. S-8 were recently revised because of changes in the seasonal adjustment factors and both
the dollar figures and indexes beginning January 1946 were revised in the January 1948 issue, largely because of adjustment of the series to sales tax data for 1946; all data shown above are on
the revised basis; revised dollar figures for all months of 1946 and revised indexes for 1942-46 are shown on p. 10 of the January 1948 Survey.
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
July 1948
1948
1947
May
June
July
August
September
October
November
December
January
February
March
April
May
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
All retail storesf— Continued
Estimated sales— Continued
7,584
6,954
7,955
7,233
' 7, 779
7,087
7,992
8,079
7,559
6,784
8,089
Nondurable goods stores
mil. of dol
7,379
9,699
854
606
778
'738
707
558
906
858
763
565
825
Apparel group
_
do __
1,202
627
194
192
134
139
189
170
212
179
136
201
247
Men's clothing and furnishings
do _156
350
394
'346
345
291
241
271
262
387
350
285
367
395
Women's apparel and accessories
do
495
96
116
86
103
96
77
114
134
120
79
100
Family and other apparel _ _ _ __ do _ _
182
87
138
151
131
'126
110
106
139
131
134
88
143
98
174
Shoes
do
304
300
'289
300
290
293
307
296
293
280
298
SCO
401
Drugstores
do
1,032
1,043
1,089
1,078
1,052
' 1, 047
1,131
942
1,033
1,086
1, 064
1,008
1,085
Eating and drinking places
do
2,714
2,850
2,842
2. 7.1 2
2, 518
2,618
2,592
2,825
2, 964
2,873
2, 609
2,768
2,995
Food group
do
2, 162
2, 255
2,170
1,995
2,247
2,083
2, 212
2,243
2,308
2,060
2,063
2,348
Grocery and~ combination
do
2,377
594
544
523
595
550
582
535
532
565
556
546
616
618
Other food
do
442
495
523
485
472
440
479
. 435
483
550
496
466
496
Filling stations
-_
do
1,384
1,316
1,336
1,156
1, 195
1,074
1,357
1,081
1,457
1,033
1,605
2,207
1,345
General merchandise group
do
874
910
940
743
788
677
719
986
902
1,111
690
1,478
907
Department, including mail-order
do
General, including general merchandise
148
165
160
157
153
155
136
122
171
168
194
168
160
with food.
mil. of doL
125
127
130
115
104
110
120
97
141
131
149
132
210
Other general mdse. and dry goods. __do
168
142
134
122
140
147
133
125
162
153
177
326
146
Variety
do
884
1,038
954
'996
905
887
994
1,019
938
1,018
1,313
985
930
Other retail stores
_. ._
do __
294
278
238
272
249
251
240
223
269
266
214
245
244
Feed and farm supply
do
243
144
166
309
139
155
153
278
189
182
181
260
170
Fuel and ice
__
do
145
'144
134
134
131
148
151
146
142
162
162
246
132
L/iquors
do
372
393
359
325
306
387
368
349
402
409
562
420
384
Other
do _ _
Indexes of sales:
r
321.0
330. 4
293. 0
295.2
289.7
302.9
301.3
287.1
328.2
342.1
386.1
328.6
323.6
Unadjusted, combined index
1935-39=100._
r
325.3
356. 6
285. 8
309.4
297.3
302.2
298.4
345. 8
343.1
348.6
367.5 ' 287. 2
332.6
Durable goods stores
_._do. _
319.6
294.9
321.8
287.2
283.4
298.3
301.0
300.8
222. 5
392. 1
323.9
340.0
320.7
Nondurable goods stores
do
' 336. 5
327.9
324.5
322.1
301.2
298.0
301.6
299.7
328.9
324. 7
317.6
329.9
Adjusted, combined index
do _
314.7
r
357. 8
341.9
330.3
326.2
287.4
297. 5
297.7
296.9
334.8
340.5
327.6
331.5
322.5
Durable goods stores
do
T
296. 4
287.6
220.4
260.9
214.1
222.1
261.5
249.4
222.8
252.1
265.0
255.8
243.1
Automotive
- -- do
r
394:1
408. 2
389.9
411. 5
390.2
359. 5
332.1
343.1
353. 4
408.3
401.2
395.8
388. 3
Building materials and hardware
do
r
469. 6
433. 9
428.4
441.1
425.2
444.2
426.7
480. 3
428.1
464. 8
439.4
463.8
455.6
Homefurnishings
_. _ _ do
404.7
391.6
410.1
417.4
388.6
416.0
442.6
400.8
426. 3
430.3
415.4
409.1
438.6
Jewelry
do
r
329. 6
322.6
323.3
302. 9
320.8
298. 1
302.6
327.0
303.7
326.5
322.5
314.3
312.1
Nondurable goods stores
do_ _
r
290.5
292.1
298. 2
292.6
293.8
277. 0
300. 3
301.9
301.9
310.8
321.5
293.8
313.9
Apparel
do
'251.4
256.1
254.8
255.3
252.3
249. 5
246.5
250.1
248.8
254. 4
251.4
257.1
254.6
Drug
do _r
425. 5
422.4
418.7
406. 0
418.9
406.5
409.6
410.3
416. 1
423.1
408.6
426.7
Eating and drinking places
do
418.3
376.4
371.8
372.3
369.0
324.4
372.5
329.0
329.8
363.4
331.8
355. 2
357.0
340. 6
Food
-- do .
261.6
251.7
243.3
238.8
252.7
221.3
201.9
230. 2
221.7
203.0
240.9
219.6
Filling stations..
do
218.7
' 268. 7
253. 3
248.8
249.0
269.2
254. 2
253. 1
249.5
251.6
272.6
266.6
248.4
General merchandise _ _ _ _ _
do
258.0
339.1 r r 338. 6 p 1 343. 4
351.0
346.1
313.4
329,5
317.5
315. 8
353.8
343. 3
335. 1
Other retail stores
do
329.2
r
14, 164
12,779
13, 625
14,280
3, 808
11,815
11, 594
11,431
12, 426
11,770
13, 487
13, 099
Estimated inventories total*
mil of dol
12, 155
r
p
r
4, 946
4, 358
4,634
5.011
3,954
3,954
4, 809
3,878
4, 148
3,972
4,195
4,182
Durable goods stores*
do
4,013
r
r
8,421
8,991
9, 218
9,269
* 8, 999
7,553
7,861
7, 640
8,278
7, 798
9,292
8,917
Nondurable goods stores*
do
8,142
Chain stores and mail-order houses :f
2,014
1,874
' 2, 267
2,313
2,319
2, 355
2,851
2,036
1,997
1,938
2,158
2,348
2.133
Sales, estimated, total*
- _.
do. ._
173
'240
288
170
187
244
256
352
253
229
181
260
'246
Apparel group*
do
42
32
48
40
27
65
30
41
39
25
47
55
44
Men's wear*
_
do
80
112
138
125
82
115
162
90
113
103
88
116
109
Women's wear*
do
46
'65
70
78
55
44
71
68
68
53
96
67
72
Shoes*
_ _ . -_. _ . - do_ _
'44
28
37
46
41
44
44
47
56
28
. 45
47
42
Automotive parts and accessories*
do
80
'102
81
112
117
93
97
76
68
99
90
88
112
Building materials*
..
do. _.
••65
66
69
69
66
68
69
67
65
65
97
68
66
Drug*
_
do _
52
51
54
52
52
49
54
52
50
52
54
50
52
Eating and drinking*
do
21
'28
25
28
28
22
29
42
27
26
24
35
27
Furniture and housefurnishings*. _ _ do. _.
449
586
599
518
645
552
509
588
954
431
473
696
593
General merchandise group*
do
Department, dry goods, and general merchan249
348
357
330
303
328
304
366
230
279
528
399
347
dise*
mil. of dol__
84
103
86
82
113
84
126
85
77
130
68
132
108
Mail-order (catalog sales)*
do
105
123
121
132
146
140
127
108
116
115
281
153
126
Variety*
do
804
792
722
844
797
754
725
748
661
786
683
755
662
Grocery and combination*
do _
Indexes of sales:
r
295.6
304. 1
259.1
303.2
269. 1
377.2
257.0
301.6
310. 9
275.6
277.1
258.3
320.0
Unadjusted, combined index*
1935-39=100.r
289.9
291.0
313. 9
280.3
311.3
300.6
287.7
301.9
292.7
278.6
280.5
280.9
297.4
Adjusted, combined index*
do_ _ _
r
326. 8
326.1
321. 7
281.1
305.7
300.6
300.8
320. 8
306.5
293.2
308.0
305.0
323.3
Apparel group*
do
r
278.0
346.5
299. 4
300.7
282.5
305.7
288.5
304.5
285.5
294.4
292.1
333.7
286.7
Men's wear* _
do
r
353.5
390.2
419. 8
393.9
365.9
414. 8
360.3
397.3
373.8
394.2
388.1
382.3
398.0
Women's wear*
_
do. _
r
211.2
247. 3
253.7
242.2
232.3
217.5
240.8
246.6
256.9
233.4
241.2
229.7
244.8
Shoes*
do
r
254. 2
205.3
228.3
223.1
206.2
213.3
254.8
251.8
240.0
241.6
232.4
250.4
246.0
Automotive parts and accessories*
do
r
355.0
361.5
358. 3
332.5
333.7
365. 5
334.4
345.6
334.8
325.1
328.6
326.1
306.5
Building materials* ._ _
do_
r
228.0
229.7
225. 3
231. 6
234.5
225. 0
229.0
222.9
227.2
226.8
230.2
223.9
226.0
Drug*
do
r
220.2
221.3
227. 5
225. 6
228.6
219.1
223.0
220.2
226.5
222.8
218.7
223. 5
211.9
Eating and drinking*
do
265.1
* 252. 7
261.1
245.9
269.3
258. 7
218.5
264.8
261.7
256.9
243.1
279.3
242.0
Furniture and housefurnishings*
do. __
268.4
286.3
313.8
297. 9
306.0
271.9
272.4
275.2
286.0
271.7
273.9
275.0
292.6
General merchandise group*
do
Department dry goods, and general merchan347.9
322.3
387.4
350.5
322.3
322.4
332.6
364. 4
343.6
347.9
324.6
329.0
322.7
dise*
1935-39=100
256.5
259.0
285.1
305.0
256.3
265. 7
276.3
269.1
265.8
283. c
263.0
270.0
283.0
Mail-order*
._
do
193.4
205.4
208.7
240.4
194.2
220.3
193.7
206.1
192.9
192.7
207.4
212.7
214.7
Variety*
do ..
326.0
350.1
337.5
353.7
316.7
363.3
371. 0
359.8
322.4
339.5
316.1
320.5
338.1
Grocery and combination*
do
Department stores:
Accounts, collections, and sales by type of payment:
Accounts receivable :
206
145
167
165
'192
264
181
167
204
181
146
193
'190
Charge accounts!
1941 average =100..
127
124
111
84
87
82
'131
136
81
95
136
129
83
Instalment accounts§
do
Eatio of collections to accounts receivable:
53
54
54
49
55
61
53
'51
52
53
56
57
53
Charge accounts §
percent..
24
25
24
29
23
30
28
31
31
27
30
28
28
Instalment accounts §
do
Sales by type of payment: *
54
54
54
53
56
57
53
51
52
'52
55
55
53
Cash sales ..
_ _ .percent of total sales. _
39
39
40
41
38
40
41
41
40
40
39
39
37
Charge account sales
do
r
7
7
7
8
7
6
6
6
6
7
7
6
7
Instalment sales
do
' Kevised. §Minor revisions in thefiguresprior to November 1941 are available on request.
*New series. See note marked "*" on p. S-8 of the September 1947 Survey for reference to tables giving data through 1943 and 1945 revisions for the chain-store series; the adjusted
indexes beginning 1942 shown in those tables and later data published currently were revised recently because of changes in the seasonal adjustment factors and the dollar figures for the general merchandise group and the total beginning January 1946 were revised in the January 1948 Survey, necessitating further corrections in indexes for 1946 and 1947; revised indexes for!942-46
and dollar figures for 1946 for the two series affected are shown on p. 11 of the January 1948 Survey. See p. S-9 of the August 1944 Survey for data beginning June 1943 for the series on departiryey.
»r inventories of retail stores are shown in the article "Revised Estimate of Retail Inventories,
July
SUEVEY OF CURRENT BUSINESS
1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-9
1948
1947
May
June
July
August
September
October
November
December
January
February
March
April
May
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
Department stores— Continued
Sales, unadjusted, total U. S.f
1935-39 --=100__
Atlantaf
do
Bostonf
_
do
Chicago^
do
Cleveland!
do
Ballast
do
Kansas Cityf
do
Minneapolis!
do
New York f
do _
Philadelphia!
do
Richmond!
_ _ _ _ _ do_ _
St. Louis!
do
San Francisco!
_ do_ _
Sales, adiusted, total U. S.fclo
Atlanta!
do
Boston! _ _ _
do
Chicago!
do
Cleveland!- _ _ _ _ _ _
._
do
Dallas!
do
Kansas City!
do_._
Minneapolis!
_ _ _
do
New York!
do
Philadelphia!
do
Pichmond!
do
St. Louis!
do
San Francisco!
do
Stocks, total U. 8., end of month:!
Unadjusted
1935-39=100
Adjusted
do_ _
Mail-order and store sales:
Total sales, 2 companies
thous. of dol__
Montgomery Ward & Co
do
Sears, Roebuck & Co
do
Rural sales of sreneral merchandise :
Total U. S., unadjusted
929-31=100
East
_ _
do
South
do
Middle West
do___
F a r West .
. d o
Total U. S., adjusted
do
East
_ do
South
do
Middle West
do
Far West
do
301
321
325
266
307
232
270
267
307
281
264
231
238
278
269
299
289
365
249
278
284
361
305
278
249
256
317
299
330
219
269
164
219
220
288
250
217
171
185
215
249
278
286
336
237
281
281
378
298
268
251
257
301
320
327
236
310
176
224
237
327
277
242
179
193
233
264
308
283
352
234
266
273
376
307
271
246
258
282
307
348
'253
252
237
242
232
231
245
227
275, 884
104, 322
253, 091
r
280
348
241
270
283
356
297
' 262
237
261
r
289
315
-303
'289
367
244
276
298
r
378
306
-•273
253
-•259
r
265
297
308
333
483
619
419
455
479
633
505
424
408
460
542
516
554
303
394
243
293
309
388
334
277
241
277
322
337
352
224
284
170
217
216
316
245
214
192
204
214
239
274
284
355
216
271
284
390
306
286
240
272
286
291
339
237
316
174
225
233
324
254
206
202
216
245
258
288
283
359
223
281
284
368
292
267
241
280
306
307
319
284
387
228
266
284
384
301
263
234
284
317
318
319
284
368
235
274
270
384
307
278
229
263
317
318
331
237
'262
295
326
"324
'304
390
'233
289
295
448
337
283
255
278
321
343
'353
256
231
r
374
460
306
364
371
507
392
335
323
370
394
428
411
302
383
248
298
296
415
335
281
248
280
310
339
339
283
251
295
273
243
283
252
288
278
303
302
312
307
308
P296
P295
333,123
355, 255
129, 206
226, 048
415, 686
148, 113
267, 573
230, 794
74, 116
156, 679
215, 575
75, 631
139, 944
301, 627
107, 103
194, 524
319, 342
115, 382
203, 959
297, 939
484.6
466.6
448.6
644.9
389.9
568.2
273.8
262.8
423.8
224.6
299.8
295.7
462.6
250.5
309.4
370.5
358.8
370.4
343. 3
342.6
350. 5
306. 9
507.3
299
368
248
296
293
387
336
311
244
266
322
340
336
292
361
236
290
290
368
323
287
239
266
303
337
336
163, 456
231, 957
84, 330
147, 627
254, 738
97, 334
157, 405
306, 643
171,562
?92. 5
287.7
278.0
384.3
223.2
332.0
243.1
306.6
297.0
403.9
375. 9
335.3
315.8
288.7
333.0
478. 0
489.0
372.8
374.8
372.6
296.3
382.9
250.6
328.8
318.6
322.1
451.5
264. 7
365.7
89,635
251.1
302.8
266.0
351. 8
215.1
313.5
291.5
352.1
262. 5
560. 2
318.2
404.8
117,507
189,136
340.6
523.6
320.8
446.9
355.6
346. 5
474.3
313.0
38]. 9
r
298
372
234
284
290
396
336
304
253
280
324
330
343
277
348
211
266
271
360
320
276
226
127, 144
205, 979
405.1
398.1
612. 6
333.4
446.3
311.8
309.3
413. 3
262. 5
371.6
491.4
727.8
405.4
515.3
372.5
381.2
530.1
309.2
424.8
291.8
269.4
429.3
249.9
348.1
301.4
359.7
345. 8
535. 7
361.5
287
366
'231
283
280
399
320
••284
485.1
467.7
293.4
375.6
372.8
360.2
530.8
309.4
382.3
408.6
412.4
293.6
315.1
418.1
537.2
349.2
464.5
5,470
5,014
1,763
3,251
5,608
2,035
3,573
8,200
410.1
314.2
420.6
?299
375
*240
289
304
393
f 326
z>294
252
287
312
333
P329
f 309
394
P242
289
320
418
P336
^306
268
284
314
340
P354
104,612
193, 327
428.4
275.1
362.7
381.8
333. 6
505. 1
290.5
403.4
WHOLESALE TRADE
Service and limited function wholesalers:*
Estimated sales, total
mil.
Durable goods establishments _ _ _ _ _ _
Nondurable goods establishments _
All wholesalers, estimated inventories*^.
of dol__
do
do
do
4,952
1,763
3,189
6,734
4,843
1,699
3,144
6,755
4,997
5,093
6,660
3,424
6,768
1,636
3,361
1,669
5. 654
1J819
3, 835
6,888
6, 392
2,032
4,360
6,930
5,740
1, 853
3,887
7,370
5, 877
1,926
3,951
7,499
1,774
3,696
7,634
7,835
r
5,551
2, 081
3,469
8, 115
5,254
1, 940
3,314
8,078
EMPLOYMENT CONDITIONS AND WAGES
EMPLOYMENT
Employment status of noninstitutional population:*
Estimated number 14 years of age and over,
107, 590
107, 504
107, 979
107, 755
107, 839
107, 675
108, 124
107, 918
107,330
108, 050
107, 407
108, 173
total
thous
108 262
54, 612
54, 844
54, 710
54, 561
54, 661
54, 759
54, -805
54, 506
54, 889
54, 934
54, 460
54 969
Female
do
55 021
52, 978
52, 943
53, 045
53,014
53, 080
53, 113
53, 135
52, 870
53, 161
52, 901
Male _ _ _ _ _ _
_.
do
53, 204
53, 190
53 241
1,352
1,241
1,371
1,294
1,398
1,326
1,226
1,236
1,327
1,280
Armed forces
do
1,470
1,236
1 238
62, 664
61, 665
59, 214
60, 892
62, 609
60, 784
59, 778
59, 769
60, 216
59, 590
60, 290
60, 524
Civilian labor force, total
do
60, 422
17,125
17, 449
17, 803
17,233
16, 752
17, 068
16, 698
16, 368
18, 149
16, 760
17, 155
17,120
Female
do
17, 124
44, 861
43, 443
44, 540
43, 551
43, 148
42, 892
44, 460
42, 846
43, 026
43, 170
43, 369
43, 009
Male _
do
43 298
59,204
60, 079
59, 569
57, 329
58, 872
58, 595
60, 055
57, 149
57, 139
57, 947
58, 330
Employed
do
58, 330
58 660
16,547
16, 944
17, 008
16, 623
16, 294
16, 714
16, 002
16, 085
15, 876
Female
. _ _
_ _ _ _ _ do
16, 580
17, 302
16, 529
16, 602
43, 071
43, 022
42, 260
41, 972
41, 653
42, 753
41, 273
41, 137
41, 244
41, 750
42,158
41, 801
Male
_
do
42, 058
8,975
8,622
10, 066
7,985
8,727
6,962
10, 377
6,771
6,847
8,960
Agricultural employment
do
7,448
7,861
7,060
50, 583
50, 013
50, 594
50, 368
50, 609
50, 985
49, 678
50, 145
Nonaericultural employment
do
49, 370
50, 089
50, 482
50, 883
50, 800
2,121
2,584
1,621
2,555
1,687
2, 639
1,912
1,643
Unemployed _ _ _ _ _ _ _ _
do
2, 065
1,960
2,193
2, 440
1,761
44, 573
45, 535
43, 469
45, 544
Not in labor force
do
47, 046
46, 330
47, 047
45, 570
43, 399
47, 524
47, 119
46, 414
46 602
Employees in nonagricultural establishments:!
Unadjusted (U. S. Department of Labor):
Total
thous
' 43, 345 ' 43, 816 ' 43, 686 ' 44, 125 ' 44, 513 ' 44, 758 ' 44, 918 f 45, 618
' 44, 603 r 44, 279 ' 44, 599 ' 44, 279 •p 44, 517
Manufacturing
do
' 15, 672 ' 15, 580 ' 15, 962 r 16, 175 T 16, 209 r 16, 256 ' 16, 354 r 16, 267 ' 16, 1 83 ' 16, 269 r 15 896 P 15 796
•• 15,r 569
r
r
'922
'921
v 930
••923
' 914
r gIS
'923
925
910
'919
' 922
922
••890
Mining
do
r
r
r
r
' 2, 099
' 2, 043
'2,096
Construction
_
do
2, 046
2, 107
' I, 865 r 1, 957
' 1, 731 ' 1, 805 r 1, 966
1, 978
1, 871
2,064
r
r
' 4, 155
' 4, 163
4, 134
' 4, 077
' 4, 071
' 3, 981 r 4, 129
'4,019
' 4, 032
4, 020
Transportation and public utilities
do
' 3, 977
' 4 097
4, 058
r 9, 684
«• 9, 356
' 9, 316
' 9, 324
' 9, 886 ' T10. 288 r 9, 622
' 9, 471
Trade _
_ _
do
' 9, 277
' 9, 520 ' 9, 599 r 9, 573
9 604
r
' 1, 671 r 1, 673
' 1, 688
' 1, 668
' 1 697 ' 1 704
1, 676
Finance
do
' 1, 643
' 1, 650 »• 1, 675
' 1, 690
1,680
1 715
4,662
4,686
4,619
4,634
4,711
4,670
Service
_.
do
4,590
4,730
4,729
4,723
4,688
4, 726
4,768
r
r
r
r
5, 414
' 5, 341
5, 318
5, 403
' 5, 454
P 5 624
' 5, 492 ' 5 546 '5 577
5, 387
G overnment
do
'5,510
' 5, 638 ' 5, 498
Adjusted (Federal Reserve):
r
r
r
r
r
43, 854
' 43, 967 r 44, 291 r 44, 557 ' 44, 625 r 44, 800
Total
do
43, 457 r 43, 860
45, 019 ' 44, 755 r 44, 791 r 44^ 543 P 44 627
r
r
15, 705 r 15, 804
16, 039 ' 16, 161 ' 16, 161 r 16, 216 r 16 332 ' 16, 208 ' 16 246 r 15 goo P 15 Q22
Manufacturing
do
15, 693
15, 725
P 931
Mining
_.
_ __ _
do
'883
'916
' 912
'919
'916
' 922
'918
'927
'920
'928
' 926
' 821
r
r
T
r
1, 927
1, 959
Construction
do
' 1, 969 ' r 1, 999
1, 847
' 1, 900
2, 006
' 2 018 ' 2 056 ' 1 945 r 1 941
' 2 006 P 2 044
' 4, 102
'• 4, 097
' 4, 080
' 4, 101
* 4, 128
Transportation and public utilities. . _ _ do_ _ _
' 4, 080
' 4, 089 ' 4, 075
' 3, 967
' 4, 071
' 4, 069
' 3, 998 P 4, 044
r
r
r
T
' 9, 497 r 9, 542
9, 430
9, 613
' 9, 458
Trade
do__._
9, 347
9. 636
9. 679
' 9. 694 ' 9. 664 ' 9. 636 ' 9. 697 p 9. 676
'Revised. 'Preliminary.
"New series. See note marked "!" on p. S-9 of the September 1947 Survey for reference to data beginning 1939 or 1938 for the series on wholesalers' sales and inventories and recent minor
revisions in the sal^s figures. Estimates of the labor force for November 1945 to date have been published on a revised basis beginning in the January 1947 Survey; earlier revisions for these
series and 1940-46 data for the series on noninstitutional population will be published later.
!Revised series. For 1919-45 data for the index of department store stocks see p. 24 of Augustl946 Survey. See notes marked "!" on p. S-9 of the June 1948 Survey and p. S-8 of the September 1947 issue regarding revisions in the indexes of department store sales. The estimates of employees in nonagricultural establishments have been revised to adjust the series to Federal
Security Agency data through 1946. Recent revisions affected the unadjusted series beginning 1946 for manufacturing, mining, and government, 1945 for construction, trade, finance, and the
total, and January 1947 for transportation and utilities, and did not affect data for the service group; see note marked "f" on p. S-9 of the September 1947 issue regarding published and
unpublished earlier revisions in the unadjusted series. There have been recent revisions in the seasonally adjusted series affecting the figures in most cases back to 1939. All revisions through
April 1947 will be published later.
SURVEY OF CURRENT BUSINESS
S-10
•
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
July 1948
1948
1947
May
June
July
August
September
October
November
December
January
February
March
April
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Estimated production workers in manufacturing
industries, total (U. S. Dept. of Labor)*
thousands. . r 12, 597 ' 12, 672 ' 12, 562 ' 12, 928 ' 13, 125 '13.143 '13.176 ' 13, 263 ' 13, 150 ' 13, 066 '13,132 ' 12, 791 v 12. 694
' 6, 452 ' 6, 555 ' 6, 630 ' 6. 681 ' 6, 746 ' 6, 816 ' 6, 795 ' 6, 711 ' 6. 792 ' 6, 683 »6. 611
' 6, 572 r 6, 639
Durable goods industries
do.
' 1, 604
' 1, 569 '1,597
' 1, 609
' 1, 588
r 1, 582
' 1, 619 ' 1, 633 ' 1, 634 ' 6, 628 ' 1, 634 ' 1, 603 P i, 588
Iron and steel and their products
do.
Blast furnaces, steel works, and rolling mills !
512
516
499
503
498
501
494
498
509
509
498
498
thousands. '577
P542
'578
••584
'563
'584
'569
'567
••564
'588
'588
'595
'596
Electrical machinery
do.
'1,216
' 1, 232 ' 1, 202 * 1,213
'1,214
'1,209
'1,171
r 1. 208
' 1, 198
'1,218
' 1, 231 ' 1, 237
' 1, 235
Machinery, except electrical
do.
499
496
500
495
491
499
501
503
500
503
497
499
Machinery and machine-shop products §.-do
48
52
49
54
52
51
53
56
50
51
50
51
Machine tools§
do..
'785
'767
'775
'764
"746
'741
'789
'753
••758
'720
'766
'785
••720
Automobiles
do.
Transportation equipment, except automobiles
'414
'462
'465
P440
'472
'464
'427
'405
'403
'452
M72
'475
'463
thousands.136
134
134
137
130
135
131
129
138
135
133
133
Aircraft and parts (excludingengines)}.do
07
25
25
27
26
25
26
27
27
25
27
26
Aircraft engines}
do.
123
126
93
140
100
133
87
128
88
126
140
118
Shipbuilding and boatbuilding}
do.
'413
'406
MOO
'404
'400
'396
'409
'409
'393
'418
'413
'408
'410
Nonferrous metals and products
do.
'749
"773
'751
'745
'751
'736
'738
'721
'727
'745
'751
'750
'710
Lumber and timber basic products
do.
537
537
550
527
535
524
550
531
544
552
531
547
Sawmills and logging camps!
do
'485
'466
P458
'470
'452
'475
'489
'445
'490
'487
'460
••450
'483
Furniture and finished lumber products, do
247
240
233
224
239
249
227
226
249
247
230
244
Furniture!
do.
'452
P451
'451
'466
'475
'445
'452
'443
'487
'460
'445
'483
"450
Stone, clay, and glass products
do
' 6, 495
' 6, 462 ' 6, 430 ' 6, 447
' 6, 355 ' 6, 340 ' 6, 108 P 6, 083
' 6, 355
' 6, 373
' 6, 033
' 6, 025
'6,110
Nondurable goods industries
do
Textile-mill products and other fiber manufac' 1, 301 v 1, 293
'1,223
' 1, 249 ' 1, 271 ' 1, 290 ' 1, 292 ' 1, 306 '1,312
r 1, 226
' 1, 202
'1,208
' 1, 187
tures
.thousands..
Cotton manufacturing, except small wares §
529
526
499
524
525
508
494
502
509
523
517
493
thousands..
112
112
106
103
111
107
103
102
102
108
107
100
Silk and rayon goods!
do.
Woolen and worsted manufactures (except
175
178
171
169
164
177
180
177
163
163
174
158
dyeing and
finishing)!
thousands.Apparel and other finished textile products
'1,103
' 1, 165
'1,096
p 1, 080
'1,127
'1.147
' 1, 166
'1,071
••990
'1,143
'992
'993
'1,117
thousands..
315
310
299
307
311
308
281
311
285
295
278
309
Men's clothing!
_do
482
440
452
462
485
476
471
389
389
440
452
400
Women's clothing!
do
'372
'396
*356
'402
'390
'399
'393
••368
'400
'385
'373
'370
'396
Leather and leather products
do
213
230
225
226
233
232
231
214
213
223
217
228
Boots and shoes!
do
' 1, 049 ' 1, 047 v 1, 083
'1,483
' 1, 353
••1,152
' 1, 159
' 1, 255 ' 1, 191
'1,442
'1,192
'1,311
'1,288
Food and kindred products
do
'220
218
220
217
225
215
221
211
213
218
217
225
Baking!
do
122
127
384
123
129
136
240
149
246
155
350
172
Canning and preserving!
do
181
182
100
187
197
183
204
183
173
176
182
192
Slaughtering and meat packing!
do
87
86
P 85
86
88
89
87
83
88
84
85
84
90
Tobacco manufactures
do
'389
'393
'388
'392
'392
'395
••388
'398
'387
'388
'394
'380
Paper and allied products
do
200
200
197
197
200
200
200
193
197
194
195
198
Paper and pulp!
do
Printing, publishing, and allied industries
'432
'435
'437
"433
'441
'438
'439
'434
'431
M30
'445
'444
'430
thousands..
145
145
144
144
141
145
144
146
143
142
142
145
Newspapers and periodicals!
do
175
178
178
182
180
181
175
183
176
176
182
176
Printing, book and job!
do
'587
'576
"572
'580
'588
'586
'592
'561
••575
'588
'562
'563
'589
Chemicals and allied products
do
196
198
195
197
196
195
198
198
196
199
198
196
Chemicals!
do
'164
'165
"166
'166
••161
'163
'165
'164
'165
'166
'165
'163
'165
Products of petroleum and coal
do
111
111
111
109
110
109
110
110
112
112
110
110
Petroleum refining!
do
'204
"195
'198
'203
••211
'208
'208
'212
'210
'207
'203
'200
'210
Rubber products
.do
109
105
113
112
114
114
119
115
117
115
118
115
Rubber tires and inner tubes!.
do
Production workers, unadjusted index, all manu' 156. 1 v 155. 0
' 153. 8 ' 154. 7 ' 153. 3 ' 157. 8 ' 160. 2 ' 160. 4 ' 160. 8 ' 161. 9
' 160. 5 ' 159. 5 '160.3
facturing (U. S. Dept. of Labor)t..-1939= 100.' 183. 6
' 182. 0 '183.9
' 185. 0 ' 186. 8 ' 188. 8 ' 188. 2 ' 185. 8 ' 188. 1 ' 185. 1 p 183. 1
' 178. 7 '181.5
Durable goods industries
do.
'161.7
' 159. 6
' 164. 2 ' 164. 8 ' 161. 7 v 160. 2
' 162. 3 ' 163. 3 ' 164. 7 ' 164. 9
' 160. 1
'161.0
' 158. 2
Iron and steel and their products
do__
Blast furnaces, steel works, and rolling mills !
130.0
131.8
132.9
130.9
130.0
130.4
127.3
131.0
130.9
130.2
129.5
129.0
1939=100..
r 226. 9
r 217. 7
' 225. 4 ' 222. 9 ' 217. 4 p 209.0
' 227. 0
' 225. 5
' 219. 6 ' 223. 0
Electrical machinery
do
' 218. 9
' 229. 7 ' 230. 2
' 234. 0 ' 233. 1 ' 227. 4 p 229. e
' 229. 7 ' 230. 5 ' 233. 8
' 230. 2 ' 228. 5
' 226. 8 ' 228. 8
'233.0
'221.7
Machinery, except electrical
do
240.2
238.8
240.9
242.2
242.2
242.3
240.9
238.4
236.4
241.4
240.3
239.5
Machinery and machine-shop products §_. do
130.4
' 134. 5
142.9
142.4
137.6
151.5
137.6
140.2
143.2
138.2
147.2
139.5
Machine tools!
do.
' 190. 5 ' 190. 0 ' 190. 4 ' 195. 2
' 179. 1
' 184. 1
' 196. 0 ' 178. 9 ' 195. 1 ' 192. 7 P 185. 5
' 188. 5 '187.3
• Automobiles
do
Transportation equipment, except automobiles
' 260. 7
' 269. 2 r 284. 6 ' 291. 6
r 299. 3
' 292. 6 ' 292. 7 ' 290. 9 P 277. 0
' 297. 3
' 255. 0
' 297. 5
' 253. 7
1939=100..
327.0
342.9
346. 0
341.1
337.4
348. 4
337. 4
339.5
335.8
329.3
336. 2
326.0
Aircraft and parts (excluding engines)} do.
299.2
278.4
276.9
303.4
294.8
299.9
301.1
302.5
280.1
Aircraft engines}
do
284.0
291.0
291.0
134.3
176.8
' 184. 4 ' 181. 6
144.7
202.7
191.9
Shipbuilding and boatbuilding}
do
181.5
125.8
126.7
202.7
169.9
r
' 182. 5 ' 178. 0
' 176. 9 p 174.4
' 172. 8 ' 174. 7 ' 176. 3
'171.4
' 180. 3
' 178. 5 '180.0
Nonferrous metals and products
do...
' 178. 4
178. 8
' 177. 3
' 168. 8 '172.9
' 178. 6 ' 178. 5 ' 178. 4 ' 175. 6 ' 175. 0 ' 178. 3 ' 178. 7 P 183. 9
'177.3
'171.5
Lumber and timber basic products
do
175.2
171.1
171.1
175.4
169.4
173.6
175.8
169.4
167.0
167.9
Sawmills and logging camps!
do
170.5
174.5
'141.9
' 144. 8 ' 147. 1 ' 148. 3 ' 149. 1
' 137. 3 ' 137. 3
139. 5
' 149. 2 ' 147. 8 ' 143. 4
' 140. 1
' 135. 7
Furniture and finished lumber products.-do
131.0
134.1
129.4
134.7
138.8
140.2
127.0
127.6
Furniture!
do
139.8
138.7
125.9
136.9
' 152. 3
' 148. 9
' 146. 5 '151.2
'152.8
' 150. 4
' 154. 0 ' 154. 7 ' 151. 6
Stone, clay, and glass products
do
' 150. 9 ' 153. 9 ' 153. 7 p 153. 6
r
'141.8
' 141. 1 ' 140. 4 ' 140. 7 ' 138. 7 ' 138. 7 ' 138. 4 ' 133. 3 P 132. 8
' 131. 7
Nondurable goods industries
_do
' 139. 1
' 133. 4
131. 5
Textile-mill products and other fiber manu' 106. 9
' 107. 2
' 109. 2 '111.1
' 105. 1
' 105. 6
' 114. 2 ' 114. 7 ' 113. 7 P 113. 1
' 112. 7
' 103. 8
factures
1939=100.' 113. 0
Cotton manufactures, except small wares {
119.3
121.7
126.6
121.5
118.1
117.7
125.8
125.6
123.6
125.2
125.1
119.9
1939=100
Silk and rayon goods!....
do
81.6
88.2
83.5
80.2
81.5
88.1
87.6
84.4
85.5
79.0
80.3
84.9
Woolen and worsted manufactures (except
104.2
108.4
107.0
dyeing and
finishing)!
1939=100
103.3
111.0
113.1
110.5
112.5
112.4
100.3
103.3
113.9
Apparel and other finished textile products
r 125. 4
' 142. 7 '141.5
' 138. 9
' 144. 8 ' 145. 3 ' 147. 7 ' 147. 5 ' 139. 8 p 136. 8
' 125. 7 ' 125. 7 ' 135. 6
1939=100..
Men's clothing!
_
__.do
130.4
122.2
133. 6
128.3
123.9
134.7
134.2
135.2
121.1
135.0
137.0
135.5
Women's clothing!
do.
158.0
161.5
153.9
135.9
136.0
153.7
166.4
164.4
139.8
168.3
169.5
158.0
Leather and leather products
do.
'112.2
' 106. 1
' 113. 2 ' 114. 1 '115.3
' 106. 6 ' 107. 5 '111.1
'114 1
' 107. 1 p 102. 6
'114.9
'115.8
97.5
92.1
96.7
92.9
93.9
99.4
97.8
100.2
92.2
98.5
Boots and shoes!
do
100.4
101.0
Food and kindred products
~__do_~~
' 134. 8 ' 139. 5 ' 153. 4
' 158. 3
' 168. 8 ' 173. 6
' 134. 5 ' 122. 6 P 126. 7
' 150. 7 ' 146. 9 ' 139. 3 '135.6
Baking!
do
115.5
114.5
113.7
111.0
114.1
117.9
116.0
112.0
' 115. 4
118.1
114.3
113.1
Canning and preserving!
do
255.7
232.7
90.3
114.4
163.8
103.3
82.1
159.8
85.5
99.1
84.3
81.2
Slaughtering and meat packing!
do..
134.7
135. 5
135.0
130.6
128.0
135.5
150.8
138.5
142.0
145.7
134.0
73.9
' Revised, p Preliminary. }See note marked "§" on p. S-10 of September 1947 Survey for reference to revisions for shipbuilding and aircraft and aircraft engines.
!Data for the indicated industries (with the exception of newspapers and periodicals, blast furnaces, etc., and machine tools) have been revised beginning 1939 to adjust the series to 1945
data from the Federal Security Agency; see note marked "§" on p. S-10 of the June 1948 and September 1947 issues for reference to published revisions; revisions for other industries will be
shown later. Data for the three industries named above were found to need no similar general revision. January-March 1947 revisions for machine tools: Production workers, thousands—
60, 59, 58; employment index—163.4, 161.6, 159.0; pay-roll index—283.1, 279.7, 276.8 (see notes in November 1943 for revisions through July 1942 for the indexes; that issue contains, on p. S-9,
the earliest data published for number of workers).
*New series. See note marked "t" with reference to estimates for the industry groups and the totals and notes marked •'§" and "}" regarding revisions for individual industries.
fRevised series. See note marked "*" and "t" on p. S-10 of the September 1947 Survey for references to revised estimates of production workers for 1929-45 and employment and payroll indexes for 1939-45 for all manufacturing, total durable goods and nondurable goods, and the industry groups; data for the industry groups and the totals have been further revised beginning January 1946 to adjust the series to levels indicated by Federal Security Agency data for 1946; revisions for January 1946-April 1947 will be shown later. Data for the individual industries
in the transportation group have been adjusted only to 1939 Census of Manufactures data; other industries have been adjusted to Federal Security Agency data through 1945* see note marked
"§" above.
SURVEY OF CURRENT BUSINESS
July 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-ll
1947
May
June
July
August
1948
September
October j No b v e e r m -
December
January
February
March
April
May
EMPLOYMENT CONDITIONS AND WAGES— Continued
EMP LO YM EN T~Con tinued
Production workers, index, unadjusted!— Con.
Nondurable goods industries— Continued
Tobacco manufactures
1939=100..
Paper and allied products
do
Paper and pulp§
do
Printing, publishing and allied industries.do
Newspapers and periodicals§
do
Printing book and job§
- do_ _
Chemicals and allied products
do
Chemicals§
_ _ do. __
Products of petroleum and coal
do
Petroleum refining!
- - do_ _.
Rubber products
do
Rubber tires and inner tubes§
do
Production workers, adjusted index, all manufacturing (Federal Reserve)!
. 1939=100.Durable goods industries!
do
Nondurable goods industries!
do
Nonmanufacturing, unadjusted (U. S. Dept. of
Labor) :
Mining:!
Anthracite
1939-100
Bituminous coal
_
_ _ do _
Metalliferous
do
Quarrying and nonmetallic
_ _ do. _
Crude petroleum and natural gas
do
Public utilities:!
Electric light and power. _ _
_ _ do
Street railways and busses
do
Telegraph
...
... do
Telephone
do
Services:!
Dyeing and cleaning
_
. _ do
Power laundries
do
Year -round hotels
_ _
_ _ do
Trade:
Retail, total!
_
do
Food*
_
_
.do
General merchandising!
do. _
Wholesale!
_
. . do
Miscellaneous employment data:
Federal and State highways, total}:. _ ..number.
Construction (Federal and State)
do
Maintenance (State)
. do
Federal civilian employees:^
United States
_ _ _ _ _ thousands
District of Columbia.
do
Railway employees (class I steam railways) :
Total
thousands
Indexes: Unadiusted!
1935-39=100
Adjusted!
_.
do
88.4
' 146. 1
140.3
* 131.0
119.0
137.2
r
199. 5
280.9
'151. 9
148.6
r
174. 6
220.0
90.2
' 146. 1
141.3
'131.5
119.7
137.8
' 194. 6
284.3
' 153. 5
150.1
' 170. 9
217.0
89.8
' 143. 3
140. 9
r 131.2
119.8
138.2
' 155. 0
r
182. 2
' 133. 5
' 155. 2
' 183. 4
' 133. 0
r 154.
r 195. 0
282.8
' 156. 2
152.6
' 165. 1
212.3
5
' 178. 8
' 135. 4
120.5
137.7
' 195. 3
280.8
' 157. 0
152. 8
' 167. 9
214.9
92.3
' 146. 2
142.9
'133.2
121.7
139.1
' 199. 9
279.0
' 156. 4
151.4
' 168. 1
207.5
95.1
' 147. 8
142.9
'134.6
121. 8
141.6
' 203. 2
278.9
'155.8
149.8
'171.7
211.0
96.5
' 148. 6
143.4
' 135. 4
122.2
142.6
' 204. 5
280.9
' 156. 1
149.8
' 174. 0
212.2
94.4
' 149. 9
144.8
' 135. 7
122.7
143.7
' 205. 4
283.3
' 155. 5
150.1
' 175. 3
211.7
93.6
' 148. 7
145.0
' 134. 0
121.0
142.3
' 204. 1
282.8
' 155. 0
149.9
' 173. 5
209.2
93.9
' 147. 8
144.9
' 133. 5
121.4
140.8
' 204. 2
281.0
' 153. 9
149.5
' 172. 0
205.8
93.4
' 148. 0
145.5
' 132. 8
122.0
139.1
' 203. 6
280.8
' 155. 4
151.3
' 168. 9
200.7
92.3
'146.8
145.3
'131.8
122.5
137.4
' 201. 4
283.2
' 154. 9
151.5
' 163. 8
192.9
' 156. 3
' 180. 7
' 137. 1
' 158. 9
' 183. 2
' 139. 7
' 160. 0
' 184. 8
' 140. 4
r
160. 4
' 186. 8
' 139. 7
' 161. 1
r
188. 6
' 139. 3
' 161. 2
' 188. 7
' 139. 4
' 159. 8
' 186. 4
' 138. 7
' 160. 1
' 188. 4
' 137. 7
' 157. 1
' 185. 5
' 134. 7
91.7
98.3
129. 8
114.5
91.0
' 106. 0
96.8
128.7
112.5
91.2
' 106. 8
95.8
127.6
111.1
91.2
' 107. 4
96.5
126.2
110. 5
91.5
' 108. 3
97.0
122.6
110.4
91.1
' 108. 7
96.9
116.7
110.5
91.6
' 106. 8
97.4
113.7
111.1
92.6
' 107. 7
'97.9
118.2
111.1
91.9
'79.3
'98.1
'124.0
' 112. 0
91.6
'145.7
142.7
' 132.3
P
P90.7
146. 4
p 132. 1
v 198. 6
v 156. 7
v 161. 1
* 156. 1
v 183. 2
9 134. 8
90.5
105. 4
99.3
129.0
112.3
88.7
••97.5
97.8
129.4
114.3
105.7
130. 7
102.8
159.2
107.5
130.4
102.3
190.4
109.3
130.9
101.5
193.3
110.2
130.7
100.5
193.8
109.9
129.6
99.8
192.9
109.4
128.8
98.1
191.6
109.7
128.7
97.2
193.3
110.3
128.6
97.6
195.0
109.8
129.2
97.2
195.0
110.3
128.6
97.8
196.2
110.9
128.8
98.2
197.4
' 111. 7
'126.7
'97.9
198.5
167.5
124.9
118.4
173.3
127.2
119.4
167.9
127.8
118.3
160.1
125.0
117.6
162.1
124.3
117.4
164.4
123.1
117.7
159.4
121.3
117.1
156.5
120.9
118.1
152.8
120.1
117.2
149.3
117.6
116.8
154.8
117.7
116.4
' 159. 0
' 118. 3
' 116. 9
111.3
113.9
121.2
109.7
111.4
113.7
120. 6
110.5
110.2
113.0
116.7
111.1
110.0
114.7
115.7
112.2
112.4
112.6
122.8
113.3
115.8
115.0
131.3
115.5
119.8
116.1
143.6
116.5
130.2
117.4
175.5
117.1
114.4
114.4
129.4
116.3
111.8
113.9
122.9
116.1
113. 5
116.7
124.5
115.3
' 112. 8
116. 1
123.6
'114.8
240, 838
90, 696
109, 641
266, 966
107, 192
116, 465
285, 865
116, 116
123,877
295, 234
125, 999
123, 976
282, 762
120, 546
117,605
271,998
115, 565
113, 058
246, 777
91, 065
112, 332
218, 587
65, 336
110, 544
198, 438
47, 734
108, 224
190, 678
41, 184
106, 305
202, 090
50, 461
108,045
233, 105
78, 726
109, 522
1,807
212
1,850
205
1,817
198
1,784
196
1,767
195
1,774
195
1,773
195
1,766
196
1,769
198
1,781
200
1,794
201
1,811
202
Pi, 826
*203
1,395
133.8
134.3
1,405
134.8
132.9
1,413
135.5
132.7
1,411
135.3
132.5
1,393
133.6
130.4
1,387
132.9
128.6
1,370
131.3
130.2
1,363
130.4
132.5
1,348
129.1
134.2
1,340
128.5
131.7
1,346
'129.0
132.3
' 1, 387
9 123. 4
v 125. 4
9 1, 350
9 129. 4
9 129. 9
91.4
' 104. 7
98.1
127.4
109.8
r
' 105. 0
PAY ROLLS
Production-workers pay rolls, unadjusted index,
all manufacturing (XI. S. Dept. of Labor)!
' 327. 2
' 345. 3
' 321. 8
' 350. 1
' 353. 4
••331.5
' 365. 7
1939=100.. ' 319. 3
' 354. 1
' 358. 2
' 358. 7
346.5
' 382. 2
' 375. 5
' 359. 4
' 363. 0
' 366. 8
Durable goods industries
do_ .
' 389. 9
' 395. 0
' 403. 1
'411.0
' 401. 7
' 393. 1
392.2
r
' 327. 7
319. 2
' 310. 2
' 307. 2
••316. 8
Iron and steel and their products...
_do
' 335. 1
••331. 6
' 345. 8
' 341. 9
' 340. 8
329.6
' 337. 6
Blast furnaces, steel works, and rolling
249.1
254.5
237.6
237.9
254. 2
mills
.1939=100
251.9
255.1
257.8
261.2
260.9
257.5
253.0
' 440. 5 ' 430. 0
' 450. 5
* 414. 4
Electrical machinery
_ _ do
' 428. 1
' 464. 6
' 471. 9
' 481. 2
' 465. 1
' 459. 1
'471.0
444.3
' 443. 0
' 437. 7
'451.4
' 427. 4
Machinery, except electrical
do
' 459. 6
' 458. 0
'434.5
' 479. 9
' 475. 2
'471.9
r 473. 8
463.8
477.9
470.6
456.2
463.4
462.1
480.0
Machinery and machine-shop products§do
481.5
500.7
494.9
496.4
495.5
493.6
264.8
257.4
265.4
242.3
Machine tools§
do
253.6
257.5
253.3
262.2
250.1
254.4
240.2
' 249. 2
r
363. 6
' 335. 0
: 355. 3
Automobiles!
_ _ do
'380.6
' 345. 1
' 385. 8
' 395. 6
' 427. 7
408.7
394.4
357.6
382.5
Transportation equipment, except automo' 571. 1
' 572. 1
r 492. 5
' 509. 8
' 541. 5
' 492. 4
biles..
_
1939**100
' 555. 1
' 600. 2
'611.2
' 600. 4
601.4
' 593. 3
621.5
622.4
623.3
639.2
663.8
637.6
653.8
Aircraft and parts, excluding engines§. .do
668.7
667.3
657.4
695.2
675.9
481.5
501.3
485.1
477.0
Aircraft engines§
_ _ do
486.7
499.9
479.2
503. 5
469.4
482.9
481.0
473.9
394.3
243.1
395.6
262.0
Shipbuilding and boatbuilding!
do
241.8
289.9
378.9
316.6
' 385. 4
416.7
' 383. 7
373.6
T
r
' 352. 0
* 332. 1
354. 8
' 349. 5
Nonferrous metals and their products
do
' 335. 3
359. 3
' 367. 3
' 377. 8
' 372. 9
' 372. 7
' 377. 1
368.3
r
' 394. 2
' 409. 8
' 383. 3
427. 4
' 429. 7
Lumber and timber basic products _ _ do
* 427. 2
' 429. 1
' 413. 5
' 417. 2
'431.8
425.2
' 426. 6
397.4
412.2
384.7
430.5
Sawmills and logging camps!
do
435.3
425.2
422. 0
425.3
400.3
412.4
401.1
405.2
' 308. 0
' 324. 3
' 298. 6
Furniture andfinishedlumber products.. do...] ' 302. 1
r 343. 0
' 338. 8
'311.6
' 352. 2
' 355. 7
' 350. 2
' 349. 2
' 333. 0
274.4
297.9
284.7
278.9
Furniture§
do
284.7
315.0
323.2
333.4
334.3
330.9
333. 6
314.6
r
r
' 299. 5
320. 2
' 298. 8
311. 5
Stone, clay, and glass products
do
' 315. 5
••331. 2
' 328. 2
' 322. 9
' 335. 7
' 321. 4
337.9
' 336. 6
r
r
r
280. 0
285. 1
' 276. 6
Nondurable goods industries
_ _ do
309. 0
' 297. 0
' 312. 8
' 321. 4
'311.2
' 315. 3
' 315. 7
' 316. 0
301.8
Textile-mill products and other fiber manur
' 248. 6
254. 5
' 243. 7
' 262. 9
factures
1939=100.
' 271. 8
' 246. 2
' 302. 0
' 288. 2
' 303. 0
' 310. 6
' 315. 6
307.1
307.5
302.6
317.4
317.3
305.7
Cotton manufactures, exc. small wares§. do
362.1
329.1
376.4
378.7
377.0
385.1
374.7
203.0
206.0
212.9
220.2
Silk and rayon goods§
. d o
208.5
236.6
227.6
248.1
252.6
262.4
267.4
267.8
Woolen and worsted manufactures, except
252.5
243.0
252.6
268.5
233.6
dyeing and
finishing!
_1839=100_,
270.4
276.6
294.4
321. 1
292. 0
322.1
308.6
Apparel and other finished textile products
r 262. 3
' 266. 2
' 303. 8
' 288. 4
' 304. 8
' 320. 5
' 327. 3
' 337. 0
' 345. 2
' 343. 2
306.5
A, , clothing!
! «,- *
1939=100.. * 259. 8
Men's
do
273.0
260.0
270.5
284.9
264.8
303.5
301.5
316.4
309.5
313.4
324.8
317.1
Women's clothing!.
dol I
264.1
283.1
260.3
334.7
323.1
349.5
319.3
355.9
374.8
387.1
376.4
307.1
r
225. 9
Leather and leather products
doIIT r 220. 9
' 229. 0
' 235. 8
' 248. 1
' 251. 8
' 252. 5
' 259. 6
' 258. 7
' 262. 5
'251.7
227.1
Boots and shoes!
do
201.7
204.8
197.0
209.9
221.5
223.8
231.9
223.5
233.8
235.9
225.6
198.1
r
' 286. 7
' 270. 4
Food and kindred products
do
' 317. 1
349. 3
' 356. 1
' 332. 8
' 321. 9
' 323. 5
' 296. 6
' 285. 8
'288.5
266.5
208.4
218.0
213.1
218.4
223.2
Baking!
do
230.8
229.2
227.8
234.1
221.5
227.1
227.6
249.3
Canning and preserving!
do
217.8
401.8
683.8
653.7
437.9
265.7
250.2
216.2
216.5
204.6
216.9
259.9
249.4
Slaughtering and meatpacking!
do.
280.9
271.9
270.0
317.4
271.7
338.9
304.2
263.3
276.6
178.4
'Revised. 9 Preliminary. §See note on item on p. S-10 regarding re visions in the data.
{Total includes State engineering, supervisory and administrative employees not shown separately.
ISee note on item in July 1944 and September 1947 Surveys regarding changes in the data beginning in 1943 or 1945. December figures do not include excess temporary Dost office substitutes
employed only at Christmas.
*New series, Indexes beginning 1939 for employment in retail food establishments are shown on p. 31 of the June 1943 Survey.
3.
t Revised se:
Ties. Revisions for 1939 through April 1947 for the adjusted indexes of employment in manufacturing industries wi: be shown later. See note marked "!" on p. S-ll of
•ill
exclusion of driver-salesmen, and indexes for these industries have been adjusted to data through 1945 from the Federal Security Agency; revised data for 1939-46 will be published later Indexes for the mining industries have been adjusted to Federal Security Agency data through 1946; revisions through April 1947 for bituminous coal and through February 1947 for the other
mining industries will be shown later. See note marked "!" on p. S-10 with regard to revised unadjusted indexes of employment and pay rolls in manufacturing industries.
SUBVEY OF CURRENT BUSINESS
S-12
July 1948
1948
1947
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
May
June
July
August
September
October
November
December
January
Febru-
ary
March
April
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
PAY ROLLS— Continued
Production-workers pay rolls, mfg., unadj.f— Con.
Nondurable goods industries — Continued
205.9
204.5
195.7
210.5
219.8
214.5
200.0
203.0
216.3
205.3
194.8
182.8
Tobacco manufactures
1939=100.325. 7
' 328. 9
' 330. 8
' 328. 0
' 325 9 '334.0
r 304. 2
' 320. 5
'315.5
' 307. 2
' 303. 4
' 296. 3
Paper and allied products
do
330. 0
327.7 .
328.3
325.0
327.3
309.6
319. 9
317.3
312.3
317.0
302.1
289.4
Paper and pulp§
do
Printing, publishing, and allied industries
259 5
' 254. 7
r 255. 3
' 258. 5
' 252. 8 ' 257. 2 r 263. 1
' 249. 7
' 238. 0
r 240. 0
' 240. 3
1939=100.. r 238. 6
235. 0
229.2
224.6
21 8. 9*
230.0
221.6
208.9
221.6
214.0
224.0
210.0
Newspapers and periodicals§
do
209.3
278.6
283.4
278.6
280.0
285.3
272. 8
254. 8
279. 3
258. 9
266. 6
258.1
255.4
Printing, book and iob§
do
r
422.1
' 425. 6 ' 425. 1
' 426. 7
«• 424. 1
•416.4
409. 6
r 387. 7
r 390. 2
' 384. 1
' 403. 1
' 389. 1
Chemicals and allied products
do
559. 2
558. 6
561.3
564.8
555. 8
529. 8
533. 7
527.0
540. 8
527.3
528. 2
520.9
Chemicals§
do
'315.4
' 320. 0
' 318. 1
316.7
' 301 . 8
' 300. 5 ' 302. 1 ' 307.5
'291.4
' 309. 5 '313.3
' 280. 6
Products of petroleum and coal
do
295.0
299.3
296.8
293. 4
301.3
286.1
282.8
273.4
288. 9
279.7
287. 6
262.5
Petroleum refining§
do
' 354. 9 ' 337. 2 ' 320. 6
312.8 !
' 373. 6
' 354. 4
'331.2
'361.4
'348.3
' 337. 6
'342.3
r 347. 5
Rubber products
do
355.9
330.2
388.4
323.6
412. 1
389.5
398.0
396.0
407.5
396. 1
397. 9
399.3
Rubber tires and inner tubes §
do
Nonmanufacturing, unadjusted (U. S. Dept. of
Labor) :
Mining:!
242, 4
232.8
255.9
239.4
195.4
252. 7
200.3
219.4
224.4
237. 9
244.0
210.2
A nthracite
1 939 — 100
' 320. 0
'341.4
350. 5
166.1
' 327. 5 ' 327. 4 ' 345. 8
'321.6
r 229. 7
'314.7
r 300. 6
' 290. 3
Bituminous coal
do
199.4
198.9
201.7
199.0
198.8
192.7
186.1
193.3
194.8
193.6
196.7
186.3
Metalliferous
_ _
do
262.0
287. 3
270.0
311.7
295.3
319.2
317.2
305. 7
315.9
307.0
307.1
295.5
Quarrying and nonmetallic
do
219.9
215.5
218.4
213. 2
203.2
204.9
199.9
204.0
206. 5
192.2
211.0
206.0
Crude petroleum and natural gas
do
Public utilities.-!
187.9
188.2
184.4
188.6
182.8
185.7
178.4
182.9
187.6
177.5
183.1
168. 2
Electric light and power
do
' 234. 7
232.6 i
230.1
227.1
223. 2
222.1
226.7
222.1
223.6
225.2
224.1
220.0
Street railways and busses
do
209. 5
212.6
224.8
213.0
207.8
208.1
215.2
213.5
218.8
226.9
206.8
211.8
Telegraph
do
315. 8
316. 3
322, 5
314.2
314.7
302.2
313.0
306.2
292.5
321.5
312.3
202.9
Telephone
do
Services:!
285. 6
271.9
291.2
303. 8
310.5
308.0
292.8
285.0
301.7
328.4
293.7
313.5
Dyein0" and cleaning
do
232. 9
225.4
227.5 1
232.3
238.5
231.5
233.6
236.2
231.3
239.3
226.8
231.0
Power laundries
do
230.4
233.2
233. 4
229.0
233.2
226. 9
221.0
222.4
222.0
226.4
228.6
221.1
Year-round hot°ls
do
Trade:
208.4
209.4
209.9
210.6
207.1
198.5
237.6
216.5
197.6
202.5
201.6
195.3
Retail, totalf
do
219.4
221.5
226.1
225.5
221. 5
213.8
212.1
209.2
213.8
212.2
220.0
206.0
Food*
do
221.4
233. 0
225.5
225. 5
224.5
220.4
214.1
212.0
314.0
251. 1
218.9
212.3
General merchandising!
_ _ _ _ _ do
214.9
211.7
210. 8
206.9
210.8
213.9
196.5
198.0
213. 6
198.2
191. 4
203. 3
Wholesale!
do
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor):
'40.4
p39. 9
40.5
'40.2
40.0
41.2
40.4
40.6
39.8
39.8
40.2
40.4
40.1
A 11 manufacturing!
hours_ .
'40.9
p40. 3
40.9
40.4
40.5
40.7
41.7
40.9
40.0
40.0
40.7
40.6
40.5
Durable goods industries* . . .
do
' 40.6
40.4
39.9
41.2
40.5
40.5
39.6
39.3
40.6
40.3
40.3
40.5
Iron and steel and their products*
do
Blast furnaces, steel works, and rolling
39.4
39.5
39.5
38.6
39.0
39.5
37.4
39.4
39.0
39.2
39.5
38.9
mills*
hours
'40.3
40.4
40.5
39.9
41.1
40.6
40.6
40.4
39.8
39.2
39.8
39.8
Electrical machinery*
do
41.6
41.4
41.8
41.5
42.2
41.2
41.3
40.9
40.5
41.4
41.1
41.3
Machinery except electrical*
do
Machinery and machine-shop products*
41.8
42.0
41.7
41.8
42.7
41.4
41.3
40.8
40.9
41.3
41.5
41.6
hours. ~
'42.3
42.3
42.0
42. 0
43.1
41.9
42.1
41.4
41.6
41.8
42.2
42.1
Machine tools*
do
'38.9
39.6
38.5
38.1
41.4
39.5
37.2
39.8
39.2
37.7
38.7
38.3
Automobiles*
do
Transportation equipment, except auto40.4
40.3
' 39. 6 '40.3
40.8
40.4
38.6
39.7
39.6
40.2
40.1
40.1
mobiles*
hours
Aircraft and parts (excluding engines)*
40.1
39.4
39.9
40.6
40.6
40.2
39.7
39.3
39.3
40.0
39.2
39.5
hours.40.6
40.6
40.5
40.1
41.2
39.4
40.5
39.2
40.0
39.2
38.8
|
39.6
Aircraft engines*
do
40.9
'40.3
40.2
'38.9
40.5
39.8
'• 36. 1
39.5
39.9
39.3
40.7
40.4
Shipbuilding and boatbuilding*
do
41.1
41.2
41.2
41.8
40.8
41.1
40.8
39.5
40.2
39.7
40.5
40.6
Nonferrous metals and their products*. do
42.3
42.4
41.7
43.2
41.6
42.2
42.6
42.2
43.3
42.8
42.8
42.0
Lumber and timber basic products* do
42.0
41.1
40.9
42.0
42.8
42.2
41.9
42.1
42.5
42.5
43.1
41.7
Sawmills and logging camps*
do
Furniture and finished lumber products*
41.7
41.9
40.9
41.4
42.7
42.1
41.8
41.5
41.2
41.7
41.5
41.1
hours..
41.9
42.2
40.9
41.9
42.9
42.3
42.3
40.9
41.0
41.4
41.2
41.6
Furniture*
do
'40.8
40.0
40.8
39.9
41.0
40.5
40.6
40.8
40.4
40.8
40.1
40.3
Stone clay and class products*
do
r
'39.9
P 39. 6
40.0
39.6 1
'39.9
40.8
40.2
40.2
39.7
39.5
40.1
39.8
39.7
Nondurable goods industries*
do
Textile-mill products and other fiber manu40.6
40.5
39.9
40.2
41.0
39.7
38.4
40.1
38.2
39.5
38.6
38.9
factures*
hours
Cotton manufactures, except small wares*
40.7
40.7
40.1
40.1
41.1
40.4
39.6
38.4
39.2
38.3
38.3
38.8
hours..
42.2
41.9
41.8
42.3
41.8
41.0
41.2
40.3
40.0
40.9
40.3
41.0
Silk and rayon goods*
do
Woolen and worsted manufactures, except
40.8
39.9
40.8
40.8
41.
39.7
39.6
36.6
40.2
39.1
39.4
39.2
dyeing and
finishins'*
hours
Apparel and other finished textTle products*
36.6
36.2
36.7
36.7
37.
36.4
36.9
35.2
36.0
35.8
35.8
36.0
hours..
37.4
37.1
37.3
37.1
37.
37.5
37.9
36.8
36.5
35.1
37.2
37.2
Men's clothing*
do
36.1
35.1
36.1
36.0
36.
35.8
35.3
34.6
35.0
34.8
34.6
35.0
Women's clothing*
do
36.2
37.8
39.
39.0
39.0
39.0
38.3
38.2
39.1
38.1
38.1
38.1
Leather and leather products*.
do
37.5
35.3
38.8
38.8
38.
38.7
37.8
37.8
37.7
38.8
37.7
37.8
Boots and shoes*
do
41.6
42.0
42.3
43.
41.7
42.5
42.8
43.4
43.2
43.4
43.2
43.0
Food and kindred products*
do. _.
2
242.
42.1
' 2 43. 6 241.9
241.6
2 41.9
241.6
M1.9
241.9
M2.7
242.6
242.5
Baking*
do
36.5
36.9
'38.4
37.3
37.
40.9
35.9
42.8
42.6
39.9
37.8
38. 3
Canning and preserving*
do
43.3
46.7
44.8
40.7
47.7
43.2
46.9
44.5
43.0
43.4
44.5
44.0
Slaughtering and meat packing*
do
'37.8
'36.2
38.6
39.9
38.3
39.4
39.7
39.2
39.6
39.2
38.2
36.3
Tobacco manufactures*
do
43.1
43.1
42.7
43.8
43.1
43.0
43.2
42.4
42.9
42.9
42.9
43.1
Paper and allied products*
do
44.5
44.1
44.4
44.9
44.5
44.4
44.4
44.5
44.5
44.1
44.5
44.7
Paper and pulp*
do
Printing, publishing, and allied industries*
39.2
'39.5
39.1
39.5
40.4
40.0
40.2
40.0
39.4
39.6
39.9
40.1
hours..
'38.4
37.8
38.5
39.1
'38.3
38.6
38.7
39.0
38.2
38.5
38.4
38.9
Newspapers and periodicals*
do
39.9
40.3
41.1
39.8
40.7
40.7
40.7
40.5
40.0
40.8
40.6
40.6
Printing, book and job*
do...
41.2
41.0
41.1
41.4
41.5
41.4
41.3
41.0
40.9
40.9
41.1
41.1
Chemicals and allied products*. . . . do
41.1
41.1
41.0
41.2
41.2
40.8
40.9
40.5
40.7
40.9
41.1
41.0
Chemicals*.
.do. _,
' 40. 9
40.3
40.8
'40.8
40.7
40.5
41.2
41.0
40.6
40.5
40.7
40.0
Products of petroleum and coal*
do. . _
39.9
'40.1
'40.0
39.8
40.3
39.9
41.0
40.7
40.7
40.3
40.6
39.5
Petroleum refining*
do...
37.8
37.8
38.5
40.9
39.7
39.9
40.1
39.9
38.6
38.7
39.1
39.0
Rubber products*
...do...
35.3
38.2 1
34.8
39.5
36.0
38.7
38.9
38.9
37.9
37.8
37.7
37.6
Rubber tires and inner tubes*
do
' Revised. * Preliminary, i The reduction reflects incomplete return to previous work schedule after termination of work stoppages and observance of Armistice Day in some yards.
2
Not strictly comparable with data prior to May 1947; comparable April 1947 figure, 41.9. § See note marked "§" on p. 8-10.
.
*New series! Indexes of pay rolls beginning 1939 for retail food establishments are shown on p. 31 of the June 1943 Survey. Data beginning 1939 for the printing and publishing industries
and the aircraft engine industries will be published later. Data beginning 1939 for all series on average hours will also be published later: see note in the September 1947 issue for reference to
earliest data published in the Survey and explanation of a change in January 1945 which affected the comparability of the data for the machine tools, aircraft engines, and shipbuilding m!Revised series. See note marked "f" on p. S-10 with regard to revised indexes of pay rolls in manufacturing industries and note marked "f" on p. S-ll with regard to revised data for
pay rolls in nonmanufacturing industries. Data beginning 1942 for average weekly hours in all manufacturing industries are available in the March 1943 and later issues of the Survey;
revised data prior to 1942 have not been published in the Survey and will be shown later.
SUKVEY OF CUERENT BUSINESS
July 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may he found
in the 1942 Supplement to the Survey
1948
1947
May
June
July
August
September
October
November
December
January
February
March
April
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
LABOR CONDITIONS—Continued
Average weekly hours per worker— Continued
Norimanufacturing industries:*
Building construction _ _ _. _
hours. Mining:
Anthracite _
_ _ do
Bituminous coal
do
Metalliferous
_ _
_ _ do ...
Quarrying and nonmetallic
do
Crude petroleum and natural gas
do_ __
Public utilities:
Electric light and power
do
Street railways and busses
_ do _
Telegraph
do
Telephone
do _Services:
Dyeing and cleaning..
do .._
Power laundries
do
Year-round hotels
_ _ _
do. _Trade:
Retail
do
Wholesale
do
Industrial disputes (strikes and lock-outs) :
Beginning in month:
Work stoppages
.
number
Workers involved..
thousands..
In effect during month: •
Work stoppages
number
Workers involved
_
thousands
Man-days idle during month
do_._Percent of available working time*
U.S. Employment Service placement activities:
Nonagricultural placements f
thousands,.
Unemployment compensation (Soc. Sec. Admin.):
Initial claims*
._
thousands-Continued claims©
do
Benefit payments:
Beneficiaries, weekly average©
> _ do
Amount of payments
thous. of dol__
Veterans' unemployment allowances:*
Initial claims
thousands
Continued claims
do_
Claims filed during last week of month.. _do
Amount of payments
thous ofdol
Labor turn -over in manufacturing establishments:^
Accession rate
monthly rate per 100 employees
Separation rate, total
do
Discharges
do
Layoffs
do
Quits
_ _ _ _ _
do
Military and miscellaneous
do
37.6
37.8
38.0
38.2
37.9
38.1
36.6
37.9
37.2
36.7
'37.1
37.1
37.2
44.3
42.2
45.6
40.5
39.2
43.7
42.6
45.6
41.9
37.0
31.8
41.2
45.2
40.6
38.5
39.1
41.4
46.1
40.1
38.2
39.1
41.6
46.1
40.3
40.0
39.9
42.3
46.4
40.0
36.2
38.5
41.7
44.6
40.9
38.4
41.2
42.7
44.4
39.5
39.0
40.9
42.5
42.7
39.9
36.2
38.7
42.9
42.1
40.4
40.3
'40. 5
'42.3
43.6
39.7
132.1
i 26.9
42.0
44.5
40.1
41.6
47.6
46.0
31.5
42.2
47.4
44.8
37.5
42.1
46.3
44.8
38.4
42.4
46.6
44.8
38.7
42.0
46.1
44.5
39.1
42.1
45.7
44.8
39.3
42.4
45.4
44.0
39.5
42.2
46.8
43.9
39.0
42.4
46.3
44.4
38.9
42.2
47.7
44.5
38.7
41.6
47.3
44.4
'38.7
41.8
46.6
44.1
38.8
42.6
42.7
45.0
42.9
42.8
45.2
42.1
42.6
44.9
40.8
42.2
45.0
41.9
42.4
44.1
41.5
42.3
44.0
40.9
41.7
44.4
41.5
42.6
44.1
41.4
42.3
43.9
40.5
41.9
44.6
41.5
42.0
44.0
42.1
42.3
44.2
40.0
41.2
40.8
41.6
41. 1
41.1
41.0
41.1
40.0
41.2
40.0
41.3
39.5
41.4
39.7
41 6
39.8
41.0
40.0
41.1
39.5
40.9
39.5
41.0
471
230
379
448
315
242
336
113
219
79
219
64
178
57
119
32
*175
?75
P200
»70
^225
P500
P275
»175
*>275
»165
781
696
6,730
1.0
701
597
3,960
.6
581
615
3,970
.5
583
259
2,520
.4
435
187
1,970
.3
393
171
1,780
.2
328
139
829
.1
236
57
590
.1
»250
plOO
» 1, 000
».l
*>300
*>110
P725
*.l
*m
P550
v 6, 000
*>400
^625
P8,GOO
i»l.l
P425
»350
v 4, 100
».6
442
453
454
484
546
528
451
397
374
344
413
458
482
1,166
4,802
878
4,905
942
5,219
623
4,296
565
3,742
617
3,359
602
2,848
830
3,700
"-966
4,041
899
4,242
885
4,863
1,071
4, 636
1,012
4,258
940
72, 295
1,007
73, 559
954
76, 534
915
66, 804
779
59, 258
656
52, 782
593
41, 677
621
52, 202
'776
59, 161
849
60, 730
924
76, 573
904
73, 576
899
66, 432
354
3,173
677
63, 763
493
3,021
722
58, 542
476
3,446
759
66, 239
386
3,023
715
59, 521
315
2,663
528
53, 336
289
1,939
419
38, 153
290
1,609
395
29, 554
398
2,241
443
40, 209
437
2,553
628
48, 933
374
2,637
651
49, 466
365
2, 930
604
55, 782
299
2, 323
522
46, 940
244
1,727
390
33, 535
4.8
5.4
.4
1.4
3.5
.1
5.5
4.7
.4
1.1
3.1
.1
4.9
4.6
.4
1.0
3.1
.1
5.3
5.3
.4
.8
4.0
.1
5.9
5.9
.4
.9
4.5
.1
5.5
5.0
.4
.9
3.6
.1
4.8
4.0
.4
.8
2.7
.1
3.6
3.7
.4
.9
2.3
.1
4.6
4.3
.4
1.2
2.6
.1
'3.9
4.7
.4
1.7
2.5
.1
'4.0
4.5
.4
*4.0
P4.7
'1.2
pl.2
»3.0
v .1
p .8
'2.8
.1
p .4
WAGES
Average weekly earnings (U. S. Dept. of Labor):
49.17
' 51. 75 ' 52. 06
51.05
50.43
' 51. 58 P51.89
52.07
51.29
48.98
48.44
49.33
52.69
All manufacturing t_
_ dollars
52.46
' 54. 77 ' 55. 23 '54.82
54.69
54.06
55.46
52.19
52.99
51.72
54.86
Durable goods industries t
do
^54.91
56.48
56.61
54.53
' 56. 99
56.21
57.43
53.71
55.18
56.47
' 57. 25
56.96
53.67
Iron and steel and their products!..
do
58.13
Blast furnaces, steel works, and rolling
58.25
59.74
60.58
58.56
58.96
55.23
56.26
58.37
59.52
58.12
59.26
60.01
millst—
-,
dollars
51.53
f 54. 50
54.82
50.24
54.10
53.46
53. 86
' 54. 41
54.32
52.00
51.57
Electrical machinery! _ _ _ _ _
do
55.34
55.74
58.65
57.36
57.87
59.29
59.13
57.92
56.06
56.30
' 59. 16
Machinery, except electrical!
do
55.20
59.67
Machinery and machine-shop prod55. 07
58.11
56.41
54.44
58.33
56.75
55.00
58.63
57.03
58.29
55.53
59.22
ucts!
__
dollars
60.54
57.77
59.64
59. 25
58.69
56.78
57.13
60.37
59.53
58.31
' 60. 58
Machine tools
do
61.34
55.76
' 59. 00
59.35
60.96
60.30
56.44
57.48
55.96
58.70
' 59. 56
61.30
64.64
Automobiles!do
Transportation equipment, except auto55.75
' 58. 67 ' 59, 35
56.54
56.02
55.31
59.56
58.08
55. 59
59.79
56.42
mobiles.
_
dollars
59. 79
56. 13
54.44
55.30
55.53
52.58
52.42
57.75
56.01
54. 48
56.28
57.12
55.48
A ircraf t and parts (excluding engines) .do
58.29
59. 30
56.58
54.76
58.43
55.44
60.33
59. 53
57.52
59.19
56.19
Aircraft engines*.
_ _
do
60.39
64.05
57.71
56.93
62.04
61. 45
59.31
56.77
57.91
55. 20
57.79
62.07
61.74
Shipbuilding and boatbuilding
do
51.07
55.07
52.62
51.12
51.15
54.85
55.06
53.59
52.06
' 55. 23
54.27
Nonferrous metals and products f
do_ _
55.53
45. 32
44.92
45.01
45.41
45.04
44.49
45.23
43.57
43. 06
' 45. 32
45.65
45.30
Lumber and timber basic products f_ do
43.41
44.05
42.94
41.95
43.07
44.14
' 43. 86
44.09
44.58
42.86
44.27
Sawmills and logging camps
do
44.20
' 46. 68 ' 47. 00
44.09
47.02
45. 38
43.45
46.26
46. 53
43.51
44.24
46.32
47.72
Furniture and finished lumber products f do
48.38
48. 54
46.24
44.58
45.04
44.21
47. 25
48.44
44.12
47.76
48.07
49.10
Furniture f-_ _ _ do
' 49. 98 ' 51. 45
49.57
49.06
47.24
51.78
50.10
48. 54
50.38
48.00
50.47
51.00
Stone, clay, and glass products f
do
r
48. 56
45.78
48.45
46.78
45.61
44.88
' 48. 66 r 48. 26
47.29
45.31
48.72
47.56
Nondurable goods industries t
do
» 48. 60
Textile-mill products and other fiber
' 45. 79
39.89
45.46
45,19
41.94
41.39
39.44
39,54
46.32
43.73
39.48
45.15
manufactures!
_ _
dollars
Cotton manufactures, except small wares!
43.43
43.08
43.81
38.55
37.50
37.10
37.73
39.22
37.21
43.98
43.64
42.47
dollars
47.92
47.55
41.65
41.73
48.31
43.23
Silk and rayon goods!
do
48.53
43.57
41.17
40.97
44.84
46.48
Woolen and w o r s t e d manufactures
52.82
42.28
52.33
48.79
46.95
46.99
45.33
(except dyeing andfinishing)! dollars
45.28
53.36
49.12
46.70
45.75
Apparel and other finished textile products!
35.36
37.64
36.57
40.23
40.00
37.09
36.50
37.56
40.05
39.00
38.78
35.77
dollars- Men's clothing!
do
44.11
42.24
38.66
41.49
44.31
44.05
40.17
44.73
41.05
41.35
43.11
42.78
Women's clothing.
do 43.24
48.52
45.49
43.82
43.81
41.58
49.09
46.76
46.91
48.07
45.78
41.87
Leather and leather products!
do. _.
39.45
' 42. 34 T 41.87
40.25
42.99
42.63
40.30
40.12
42.67
41.93
42.18
41.89
38.32
Boots and shoes
do 37.78
38. 30
40.21
41.35
40.12
38.09
41.09
40.87
39.98
38.49
40.41
' Revised.
* Preliminary.
1 Data reflect work stoppages.
• See p. 23 of December 1946 Survey for 1944-45 data.
© Computed from weeks compensated in weeks ended during month.
01 Small revisions for January 1940 to May 1944 are available on request.
cf Rates refer to all employees and are therefore not strictly comparable with data prior to 1943 published in the Survey.
§ See note in September 1947 Survey regarding a change in January 1945. also in 1942 for women's clothing industry, which affected the comparability of the data.
* New series. See note marked "*" on p. S-12 of the September 1947 Survey for reference to available data for the series on average weekly hours in nonmanufacturing industries with the exception of the series for year-round hotels which was not shown in the Survey prior to the October 1947 issue. Data are available beginning 1939 for average hours in year-round hotels, average
weekly earnings in the aircraft engine industry, and initial unemployment compensation claims, beginning September 1944 for veterans' unemployment allowances, and beginning 1927 for
man-days idle as a percent of available working time.
! Revised series. The indicated series on average weekly earnings and average hourly earnings (p. S-14) have been shown on a revised basis beginning in the March 1943 Survey; see note
in that issue for an explanation of the revision.
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
July 1948
1948
1947
May
June
July
August
September
October
November
December
January
February
March
April
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAGES— Continued
Average weekly earnings— Continued
All manufacturing— Continued
Nondurable goods industries— Continued
' 49. 18
49.44
49.04
49.45
50.93
49.90
49.61
48.40
Food and kindred products!
dollars
50.67
'49.36
48.27
47.71
i 45. 52
47. 03 ' i 49. 30 ' ! 47. 38 148.00
i 46. 85
i 46. 14
M5.81
i 46. 26
i 44. 84
Baking?
do
i 47. 43
i 45. 50
42.73
40.77
37.94
41.10
41.14
39.96
41.65
43.69
45.88
44.75
39.37
39.39
Canning and preserving!
do
56.82
56.03
51.88
54.33
57.12
61.31
54. 98
61.57
55.31
53. 37
65.55
54.40
Slaughtering and meat packing
do
r
r
36. 84
35. 04
37.26
37.97
37. 55
37. 67
37.90
37.33
37.74
39.16
36.30
34.46
Tobacco manufactures!
do
53.61
50.72
53. 34
' 53. 79
53.20
53.69
52.22
51.99
51.06
48.79
52.80
Paper and allied products!
_ . _ do
49.95
58.41
58. 50
57.75
57.14
54.83
58.02
57.10
56.36
Paper and pulp
do _
58.21
57.40
56.30
52.84
Printing, publishing, and allied industries!
r
' 62. 72
62.41
61.61
61.62
63. 97
63.37
59.48
59.37
62.30
59.76
64.50
59.55
dollars. _
71.32
' 70. 36
68.96
71.45
67.74
69.18
69.40
69.78
66.53
67.16
Newspapers and periodicals*
do
72.92
67.10
60.96
60.13
60.22
55'. 95
60.23
59.35
58. 32
56.77
56.81
58.63
56.41
Printing, book and job* __ _
do
61.26
r
••54.12
54. 14
54.31
53.73
53.15
52. 67
01.81
54.34
51.27
51.00
50.59
Chemicals and allied products!
do
49.80
57.44
60.84
60.82
59.21
60.80
60.07
58.46
57. 98
57.73
56.80
Chemicals
do
60.97
56.35
' 64. 58 r 64. 87
60. 94
60.62
64.47
63.21
62.54
61.84
59.64
Products of petroleum and coal!
do
64.38
60.57
57.92
r
' 67. 64
67.54
66.32
63.51
63.12
67.77
64.12
65. 86
64.75
60.01
68.02
Petroleum refining
do.
62.17
r
54.70
53. 24
57.33
59.47
55.92
55.74
57.62
57.76
53.44
57. 99
Rubber products!
_
do
55.49
55.30
55.54
58.22
62.72
65.74
64.86
61.15
56.54
63.78
64.75
62.06
61.12
Rubber tires and inner tubes _ _ _ do_
61.35
Average hourly earnings (U. S. Dept. of Labor):
1.285
' 1. 287
' 1. 289
1.278
1.249
1.236
1.258
1.230
p 1. 299
1. 268 '
1.226
'1.291
1.207
All manufacturing!
dollars.r 1. 352
1.354
1.355
v 1. 363
'1.352
1.346
1.337
1.331
1.305
' 1. 356
1.312
1.303
Durable goods industries!
do
1.278
1.412
1.414
1.409
1.412
1.396
1.404
1.397
1.415
1.376
1.365
1.363
1.333
Iron and steel and their products!
do
Blast furnaces, steel works, and rolling
1.513
1.533
1.510
1.519
1.488
1.513
1.510
1.502
1.513
1.478
1.472
1.445
mills!
dollars
r
1.348
1.352
1.314
1.331
1.308
1.346
1.264
1. 350
1.325
1.350
1.339
1.295
Electrical machinery! _ _
do__
1.422
1.417
1.415
1.413
1.395
1.377
1.404
1.400
1.371
1.430
1.334
1.363
Machinery, except electrical!
do
Machinery and machine-shop products!
1.389
1.392
1.353
1.381
1.374
1.403
1.395
1.349
1.391
1.370
1.336
1.307
dollars. r
1.432
1.420
1.424
1.412
1.408
1.405
1.394
1.439
1.366
1.433
1.381
1.357
Machine tools
do
r
1.538
1.526
1. 534
1.563
M..548
1.540
1.515
1.500
1.496
1.526
Automobiles!
_
do
1.485
1.463
Transportation equipment, except automor
' 1. 482
1.479
1.465
1.437
1.424
1.471
1.462
1.406
1.395
1.478
1.387
1.376
biles!
dollars
Aircraft and parts (excluding engines)
1.372
1.408
1.406
1.395
1.386
1.409
1.406
1.413
1.417
1.381
1.341
1.328
dollars. .
1.452
1.461
1.461
1.443
1.461
1.491
1.460
1.383
1.467
1.435
1.428
1.^65
Aircraft engines*§
, _ _ do
r
r
1.567
1. 539
1. 582
,.525
1.421
1.541
1.529
1.490
1.460
1.421
1.447
1.433
Shipbuilding and boatbuilding
do_ _1.336
1.344
1.338
1.327
1.312
1.343
1.320
1.309
1.294
1.289
1.286
1.260
Nonferrous metals and products!
do
r
1.080
1.050
1.074
1.062
1.048
1.056
1.063
1.080
1.025
1.071
1.033
1.053
Lumber an d timber basic products!
do
1.044
1,023
1.044
1.018
1.053
1.055
1.032
1.046
1.056
1.049
1.040
1.006
Sawmills and logging camps
do
Furniture and finished lumber products!
r
1.127
1.122
1.108
1.105
1.058
1.061
1.046
1.117
1.126
1.093
1.070
1.131
dollars.1.151
1.162
1.155
1.145
1.137
1.085
1.130
1.117
1.079
1.157
1.089
1.074
Furniture .
do
1.245
' 1. 255 r 1.260
1.253
1.234
1.190
1.247
1.227
1.208
1.198
1.270
1.173
Stone, clay, and glass products! _
do
' 1. 217
1.196
1.219
1.210
1.175
1.140
' 1. 219
1.185
1.165
1.158
1.150
1.139
v 1. 229
Nondurable goods industries!
do
Textile-mill products and other fiber manur
1.032
1. 139
1.115
1.055
1.048
1.025
1.138
1.100
1.090
1. 028
1.024
1.140
factures!
dollars
Cotton manufactures, except small wares!
1.051
.977
1.083
.991
.985
1.076
1.081
1.077
.970
.970
1.061
.973
dollars. .
1.151
1.137
1.043
1.156
1.088
1.057
1.023
1.147
1.100
1.062
1.017
1.019
Silk and rayon goods!
do
Woolen and worsted manufactures (except
1.169
1.156
1.195
1.158
1.303
1.188
1.178
1.192
1.160
1.311
1.317
1.160
dyeing and
finishing)!
dollars
Apparel and other finished textile products!
1.046
.988
1.094
1.019
1.051
1.091
1.098
1.038
1.020
.994
1.052
1.038
dollars.1.090
1.105
1.116
1.106
1.098
1.173
1.176
1.178
1.120
1.104
1.136
1.188
Men's clothing!
_
do
1.285
1.334
1.279
1.217
1.241
1.202
1.279
1.182
1.168
1.327
1.270
1.308
Women's clothing§
do
r
1.072
1.102
1.095
1.057
1.055
1.082
1.035
1. 106
1.095
1.092
1.053
1.116
Leather and leather products!
do
1.018
1.046
1.035
1.018
1.000
1.065
1.059
1.059
1.020
1.080
1.071
1. 056
Boots and shoes
do
1.173
1.129
1.199
1.177
1.159
1.110
1.175
1.140
1.187
1.181
1.119
1.121
Food and kindred products!
do
1
1
1
1
]
1
r
1. 104
1.115
1.115
1. 091
1. 131 ' i 1, 132
1.056
i 1. 067
i 1. 138
* 1. 074
1. 119
1.131
Baking§
do
r
1.025
1.062
1.034
"•1.118
1.102
1.100
1.083
1.045
1. 132
1. 120
1.003
1.093
Canning and preserving!
do
1.275
1.305
1.273
1.276
1.267
1.122
1.214
1.407
1.303
1.277
1.282
1.291
Slaughtering and meat packing
do
.952
.951
.956
.954
.984
.950
.948
.980
.975
'.968
.953
983
Tobacco manufactures!
do
1.222
1.215
1.245
1.210
1.196
1.133
1. 250
1.249
1.190
1.165
1.235
1.226
Paper and allied products!
do
r
1,292
1.313
1.310
1.287
1.283
1.276
1.182
1.313
1.301
1.266
1.295
1.231
Paper and pulp
do
Printing, publishing, and allied industries!
1.534
1. 556
1.499
1.486
1.645
' 1. 604 r 1.621
1.540
1.508
1.498
1.579
1.568
dollars.1.699
1.776
1.753
1.719
1.797
1.758
1.736
1.867
1.713
' 1. 843
'1.812
1. 791
Newspapers and periodicals*
do
1.469
1.406
1.451
1.436
1.408
1.406
1. 551
1.397
1.528
1.528
1.493
1.479
Printing, book and job*
do
T
1.273
1.252
1.210
1.315
1.287
1.232
1.325
'1.314
1.311
1.263
1.293
1.247
Chemicals and allied products!
do
1.448
1.432
1.432
1.410
1.375
1.390
1.484
1.483
1.479
1.404
1.477
1.457
Chemicals
do
r
r
1.494
1.518
1.509
1.464
1.448
1. 581
1. 505
1.596
1.586
1.551
1.495
1. 587
Products of petroleum and coal!
do
1.591
1.607
1.520
1.703
1.699
1.593
1.567
1. 570
1.532
' 1. 689 ' 1. 692
Petroleum refining
do
1.647
r
1.421
1.453
1.447
1.445
1.413
1.444
1.438
1.445
1.419
1.416
1. 408
1.454
Rubber products!
do
r
1.661
1.661
1.622
1.640
1.603
1.647
1.640
1.615
1.613
1.646
1. 599
1.658
Rubber tires and inner tubes
do
Nonmanufacturing industries:*
1.656
1.765
1.689
1.822
1.774
1.738
1.718
1.661
1.781
1.669
'1.805
1.806
Building construction _
do
Mining:
1.754
1.593
1.784
2 1. 708
1.764
1.765
1.780
1.596
Anthracite
do .
1.776
1.575
1.817
1.756
r
1.819
2 1. 822
1. 851
1.470
1.841
1.798
1.787
1.489
Bituminous coal
_
do
1.740
1.826
1.847
1.826
1.354
1.278
1.380
1.356
1.370
Metalliferous
do
1.371
1.371
1.365
1.370
1.360
1.323
1.311
1.178
1.121
1.092
1.225
1.169
1.156
1.146
1.129
1.212
1.175
1.186
1.176
Quarrying and nonmetallic
.do. .
1.554
1.494
1.510
1.448
1.614
1.605
1.543
1.486
1.627
1.481
1.475
1.638
Crude petroleum and natural gas§
do
Public utilities:
1.428
1.378
1.358
1.388
1.427
1.392
1.390
1.374
Electric light and power
do
1.426
1.414
' 1. 408
1.428
1.195
1.241
1.293
1.276
1.265
1.265
1.295
1.299
1.212
Street railways and busses
do
1.295
1.288
1.231
1.253
1. 234
1.228
1.242
1.349
1.257
1.227
1.226
1.236
Telegraph
do
1.267
1.265
1.257
1.254
1.241
1.215
1.242
1.241
1.229
1.230
1.218
1.189
1.223
Telephone § _
do
1.238
1.211
Services:
.892
.925
.919
.899
.924
.921
.911
.898
.894
.938
.930
.923
Dyeing and cleaning§
do
.786
.786
.769
.807
.771
.767
.813
.802
.787
.766
.805
Power laundries§
_
do
.797
.695
.687
.684
.672
.652
.695
.660
.650
.695
.695
.643
.693
Year-round hotels
do
Trade:
1.025
1.044
1.013
1.012
1.055
1.003
1.003
.996
.985
1.045
1.016
1.050
Retail
_ _
_
do
1.314
1.258
1.257
1.262
1.346
1.334
1.289
1.309
1.281
1.241
1.343
1.300
Wholesale
do
' Revised. » Preliminary.
1
2
Not strictly comparable with data prior to May 1947; comparable April 1947figures—weeklyearnings, $43.62; hourly earnings, $1.039.
Data reflect work stoppages.
§See note in September 1947 Survey regarding a change in 1945, also in 1942 for the women's clothing industry, which affected comparability of the data.
*New series. See note marked "*" on p. S-14 of the September 1947 Survey for reference to available data for the indicated series with the exception of hourly earnings for year-round
hotels which has not been included previously; data beginning 1939 for this item are available on request.
!Revised series. See note marked "!" on p. S-13.
SURVEY OF CURRENT BUSINESS
July 1948
S-15
1948
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
May
June
July
August
September
October
November
December
January
February
March
April
May
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAG E S— Continued
Miscellaneous wage data:
Construction wage rates (E. N. R.):§
Common labor
dol. perhr..
Skilled labor
_
do
Farm wages without board (quarterly)
dol per month
Railway wages (average class I)
dol ppr hr
Road-building wages, common labor:
United States average 0
do
.<*
1.140
1.94
r
r
1.185
2.02
' 1. 233
2.07
1.136
1.140
114. 00
1.133
.88
.89
.92
122
122
123
125
126
108
81
14
109
82
13
110
82
13
112
83
13
112
84
13
r
1. 237
2.08
'1.237
2.10
'r1. 263
2.13
1 137
1 264
112.00
1 250
r
1. 265
2. 13
'r1. 272
2.14
1.272
2.14
1.272
2.15
1.283
2.15
1.287
2.17
1 305
1 290
113 00
1 297
1 326
1.279
1.315
2.18
113. 00
1.279
r
1.01
.95
.91
PUBLIC ASSISTANCE
Total public assistance
mil. of dol
Old-age assistance, and aid to dependent children
and the blind, total
mil of dol
Old -age assistance
do
General relief
do
128
129
114
85
14
115
86
14
132
116
87
16
134
137
138
118
88
16
121
89
17
120
88
18
r
139
*139
121
89
17
*>123
»90
f 16
FINANCE
BANKING
Agricultural loans outstanding of agencies supervised by the Farm Credit Administration:!
1,778
1,713
1,731
1,743
1,699
1 707
1,739
1,746
1,706
1,683
1,746
1 724
Total
mil of dol
1,763
954
962
982
1,034
973
1,018
1,028
1,033
955
993
1,007
Farm mortage loans, total
do
954
958
864
862
875
910
869
907
910
860
882
891
900
Federal land banks
_
do
860
861
121
115
123
124
90
103
100
107
118
95
111
Land Bank Commissioner
do
98
93
223
281
152
288
284
240
205
180
159
249
278
Loans to cooperatives, total
_do
270
237
444
514
601
445
467
500
522
523
497
539
462
495
Short-term credit, total
do
574
81, 799
75, 048
83, 957
84, 897
78, 359
96, 483
106, 520
93, 966
87, 226
82, 740
94,058
80, 771
Bank debits, total (141 centers) f.
-— do. _
91, 646
37, 504
31,837
34, 779
35, 632
30, 895
New York City
_ do
35, 429
46, 225
37, 615
31, 738
28, 331
32, 271
39, 587
37, 955
56, 554
51, 002
49, 962
46, 720
49, 178
49, 267
47, 464
51, 797
56, 896
60, 295
56, 351
48, 500
Outside New York City
do_
53, 691
Federal Reserve banks, condition, end of month:
46, 583
44, 626
44, 425
44, 882
47, 327
46, 153
46,991
47, 205
45,615
46, 270
46, 589
47, 712
Assets, total
mil. of dol
45, 499
22, 782
22, 906
22, 759
21, 875
22, 170
22, 738
21, 576
22, 109
23, 181
22, 975
22, 730
21, 607
Reserve bank credit outstanding, total.^do
20, 858
92
327
179
306
85
296
185
137
70
431
430
331
Bills discounted
do
249
21, 925
22, 168
22, 329
22, 192
21, 549
21, 872
22, 088
20, 887
22, 559
22, 209
20, 662
21, 024
20, 340
United States securities
do
21, 701
21,044
20, 296
20, 039
19, 689
21, 497
20, 723
20, 534
22, 036
21,776
21, 363
21, 878
Gold certificate reserves..
do
21,910
46, £83
46,153
44, 626
44, 882
47, 327
45,615
44, 425
46, 270
46, 991
46, 589
47, 712
47, 205
Liabilities, total
do
45, 499
19, 240
18,738
17, 869
18, OC9
20,311
18, 695
19, 807
19, 610
19, 731
17, 748
19, 761
19, 431
Deposits, total
do
19,007
16,956
16,112
16, 238
17,062
16, 919
16, 784
16, 007
17, 021
16, 974
16, 601
16, 639
17, 899
Member-bank reserve balances
_do
16, 944
r
841
768
864
399
991
823
p818
762
829
738
655
1,499
Excess reserves (estimated)
do
737
24, 481
24, 120
24, 156
24, 482
24, 154
24, 045
24, 345
24,090
23, 675
23, 768
24, 820
24, 651
23, 648
Federal R eserve notes in circulation
do
48.1
48.4
48.8
48.0
47.7
48.5
47.8
46.7
50.7
49.7
50.4
48.3
Reserve rat'o
percent
51.4
Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month: t
Deposits:
47,771
47, 056
46,626
46, 314
48, 833
46, 954
47, 145
47, 296
48, 685
48, 247
46, 646
45, 340
46, 671
Demand, adjusted
_ _mil. ofdoL
Demand, except interbank:
Individuals, partnerships, and corporations
47, 988
47,330
45, 8C7
48, 701
46, 884
46, 816
46, 443
47, 134
48,379
45, 445
49, 809
46, 627
mil. of dol__
46, 418
3,264
3,191
3,027
3,076
3,124
3,109
3,268
3,478
3,219
3,363
3,146
3,246
States and political subdivisions
do
3,484
693
1,561
1,252
969
648
596
1,009
741
940
793
1,H9
1,297
United States Government
_ _ _
do _
1,309
14, 584
14, 411
14, 593
14, 561
14, 460
14, 520
14, 470
14, 877
14,801
14, 772
14, 609
14, 478
Time, except interbank, total
„
do
14, 790
Individuals, partnerships, and corporations
14, 175
14,151
14, 061
14, 055
14, 005
14, 127
14, 104
14, 283
14, 256
14, 192
14, 069
14, 221
mil. of doL.
14, 222
391
328
324
327
334
329
328
471
517
328
478
338
States and political subdivisions
do. _
492
11,178
10, 581
10, 126
10, 681
10, 833
10, 320
Interbank.... __ _
_
do
9,914
10, 422
11, 121
11,117
9,750
11, 643
9,701
42, 462
42, 971
43, 224
41, 559
42, 740
43, 094
42, 587
40, 055
41, 798
Investments, total
do
39, 415
41, 487
38, 768
39, 780
U. S. Government obligations, direct and
38, 192
38, 990
37, 323
38,354
38, 400
38, 739
35, 218
35, 845
37, 560
37, 227
34, 433
35, 475
guaranteed, total
mil. of dol__ 39, 220
2,209
519
769
989
582
638
827
1,986
948
Bills
do
2,048
1,530
1,272
2,219
3,410
4,025
4,032
4,648
5,135
4,879
3 972
4,535
4,138
3,338
3,291
Certificates
do
3,745
3,839
30, 701
30, 973
30, 556
28, 965
30, 935
31,015
31, 224
27, 266
30, 474
26, 018
29, 505
27,111
Bonds (incl. guaranteed obligations)
do
26, 997
2,739
2,702
2,652
2,632
2,418
2,631
2,619
2,559
2,335
2,854
Notes.
_ _
_ _
_
do
2,847
2,305
2,420
4,236
4,232
4,004
4,104
4,340
4,270
4,233
4,210
4,197
4,238
Other securities
do
4,335
4,260
4,305
22, 572
20, 015
23, 394
21, 212
22, 056
20, 277
20, 508
23, 521
23, 439
23, 229
Loans, total
do
23, 453
23, 329
23, 160
13,116
11, 782
13, 817
11,809
12, 518
14, 727
11, 967
14, 540
14, 358
14, 113
14, 658
Commercial, industrial, and agricultural. do
14,417
14, 159
674
1,234
970
1,266
1,095
1. 169
1,166
831
1,058
784
919
To brokers and dealers in securities
do
905
809
Other loans for purchasing or carrying securities
1,023
975
1,C09
976
986
764
811
975
772
945
880
761
749
mil. of doL_
3,516
3,244
3,316
2,981
3,171
3,079
2,897
3,569
Real estate loans
do
3,388
3,755
3,460
3,615
3,669
180
191
158
246
187
235
215
Loans to banks . _ _ _
_
do
233
219
106
230
215
190
3,241
3,486
3,109
3,306
Other loans
_._
do
3,077
3,167
2,957
3,502
3,604
3,431
3,389
3,540
3.584
Money and interest rates :1
Bank rates to customers:
1.83
1.77
1.82
New York City...'
percent..
2.09
2.44
2.25
7 other northern and eastern cities
do
2.27
2.52
2.95
2.69
11 southern and western cities
do
2 61
2 83
1.25
1.00
1.00
1.00
1.00
1.00
1.00
Discount rate (N. Y. F. R. Bank)
do
1.00
1.25
1.25
1.00
1.25
1.25
4.00
4.00
4. CO
4.0C
4.00
4.00
4.00
Federal land bank loanscf
do
4.00
4.00
4.00
4.00
4.00
4.00
1.54
1.52
1.52
1.53
1.52
1.52
1.58
1.88
1.54
Federal intermediate credit bank loans
do
1.63
1.69
1.83
1.58
Open market rates, New York City:
Acceptances, prime, bankers', 60 days
.81
.81
1.06
.81
.94
.88
.94
percent..
.94
1.03
1.06
1.06
1.06
1.06
1.00
1.00
Commercial paper, prime, 4-6 months
do
1.00
1.06
1.06
1.06
1,00
1.38
1.19
1.38
1.31
1.38
1.38
1.50
1.50
1.50
Time loans, 90 days (N. Y. S. E.)
do...
1.50
1.50
1.50
1.50
1.50
1.50
1.50
1.50
1.50
1.50
1.38
1.38
1.38
1.38
1.38
1.38
1.38
Call loans, renewal (N. Y. S. E.)
do
1.50
1.50
1.38
1.50
1.50
1.50
r
Revised. *> Preliminary. O Reported quarterly after July 1947 for the week nearest the 15th of the month indicated.
IFor bond yields see p. S-19. § Rate as of July 1, 1948: Construction—Common labor, $1.352; skilled labor, $2.25. Revisions, 1947; Common labor, January, $1.110; February, $1.118:
skilled labor, January, $1.90.
J The total and total short-term credit have been revised to include emergency crop and drought relief loans which are now supervised by the Farmers Home Administration and publication
of the detail for short-term credit and loans to cooperatives has been discontinued in the Survey; see September 1947 Survey for loans included in these totals.
cf R ates on all loans; see note on item in April 1946 Survey.
t Revised series. Bank debits were revised in the September 1943 Survey to include additional banks, see p. S-15 of that issue for revised figures for May-December 1942. The series for
weekly reporting banks have been shown on a revised basis beginning in the August 1947 Survey; see note in that issue.
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
July 1948
1947
May
June
July
1 August
September
1948
October
November
December
January
February
March
April
May
FINANCE—Continued
BANKING— Continued
Money and interest rates— Continued
Open market rates, New York City— Continued
Average yield on TJ. S. Govt. securities:
.932
.997
.996
.996
.748
.376
.997
.977
.950
.804
.703
.376
.857
3-month bills
percent..
1.51
1.58
1.63
1.54
1.47
1.29
1.60
1.35
1.33
1.63
1.28
1.27
1.31
3-5 year taxable issuest
.
do
Savings deposits, balance to credit of depositors:
9,986
9,681
10, 017
9,959
9,904
9,802
9,556
9,535
9,855
9,655
9,630
9,580
9.427
New York State savings banks
mil. of dol. _
r
v 3, 391
«• 3, 415
3,412
3,435
3,441
3,432
3,413
3,407
3,396
3,398
3,393
3,417
3,387
U. S. Postal Savings
do
CONSUMER SHORT-TERM CREDIT*
Total consumer short-term debt, end of month
11,302
12, 055
12,945 r r13, 391 T> 13, 599 P 13, 804
11,682
11, 230
13, 385
12, 636
11, 433
10, 934
13, 058
mil. of dol_.
p 6, 957
6,249
4,919
p 6, 737
6,186
5,463
5,179
5,045
5,733
5,290
4,739
6, 498
6,156
Installment debt, total
do
r
2,092
P 3, 284
p 3, 139
2,370
2,167
2,036
2,835
2,551
2,257
2, 986
1,928
2,818
2,839
Sale debt, total*
. do
1,047
922
P 1, 559
p 1, 470
1,254
1,004
880
1,367
1,202
1,151
1,099
965
816
Automobile dealers*
do
Department stores and mail-order bouses*
495
P704
624
429
423
P680
653
409
632
555
462
440
650
mil. of dol. _
P511
443
»529
474
382
497
492
398
395
502
528
423
408
Furniture stores*.
do
46
52
37
32
54
52
52
49
39
43
41
Household appliance stores*
do
r
P155
P155
131
164
119
160
176
192
145
124
120
114
128
Jewelry stores*
_ do
P263
208
P272
184
182
255
249
254
229
266
197
189
175
All other*
do
r
P 3, 673
p 3, 598
3,414
3,093
3, 512
2,953
3,182
3,012
2,883
2,811
3,368
3,317
3,033
Cash loan debt, total* _
do
r
v 1, 489
p 1, 516
1,281
1,221
1,309
1,196
1, 403
1,385
1,167
1,358
1, 255
1,248
1,449
Commercial banks* .
do
250
224
P30S
275
287
271
269
257
233
213
245
240
Credit unions..
_
do
P180
143
P19C
173
167
157
148
165
166
162
152
138
154
Industrial banks*
do
P148
p 146
127
121
143
134
116
140
130
125
124
119
137
Industrial loan companies*
do
P739
*>747
721
647
638
649
733
712
670
652
633
717
643
Small loan companies
do
Insured repair and modernization loans*
r
P621
467
604
572
517
450
587
497
482
431
558
538
mil. of dol. _
• P124
P123
114
114
113
121
121
116
113
••123
120
114
114
Miscellaneous lenders*
do.
P 3, 255
2, 786
p3,265
2,887
3,029
2,864
2,835
3,067
3,612
3,281
3,240
3,309
2,755
Charge account sale debt*
.
do
P 2, 654
P 2, 664
2,548
2,645
2,508
2,460
2,686
2,701
2,708
2,677
2,607
2,579
2,697
Single payment loans*
do
P933
918
P938
921
923
916
928
924
900
'926
920
917
920
Service credit*
do
Consumer installment loans made by principal
lending institutions:
P239
P256
218
217
211
212
254
272
235
221
206
204
209
Commercial banks*
mil. of dol..
45
P 55
44
43
p58
41
42
44
44
44
42
56
53
Credit unions
do
p31
28
29
26
p 31
24
••32
25
33
27
27
27
25
Industrial banks*
....
do
24
P25
P27
23
23
24
25
25
24
29
26
30
22
Industrial loan companies*
do
P121
P123
121
117
191
123
115
142
140
107
110
107
113
Small loan companies _ _
do
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures:!
2,446
3,109
3,669
6,540
2,604
3,224
2,402
2,879
2,194
3,060
3,861
2,932
3,546
Expenditures, total
mil. of dol.
154
157
245
1,396
124
92
142
401
972
127
668
608
103
Interest on public debt
. do
481
564
601
530
582
1,012
529
524
568
494
526
511
597
Veterans' Administration
do
909
1,151
979
933
1,493
1,327
1,069
996
850
936
1,OC6
908
850
National defense and related activities...do_
656
1,881
1,464
2,035
1,080
1, 017
688
881
885
605
7P4
1,538
1,491
All other expenditures. _
do
2,456
2,470
2,881
5,481
3,205
3, 081}
4,885
4,614
4, 310
4,260
3,054
2, 866
6, 365
Receipts, total
do
2, 707
2,390
2,397
5,473
2,806
4,246
2,865
4,275
2,743
4,336
4,872
2,536
6,334
Receipts, net
do
42
37
35
35
35
37
34
37
32
3:1
34
41
31
Customs
do
1,345
1,382
3,270
1,619
1,858
3,159
3,237
2,769
3,435
1,666
1,668
5,165
Income taxes __
do
70
121
83
364
51
80
' 401
423
142
133
329
352
176
Social security taxes
do
602
782
662
663
595
673
656
699
629
767
695
739
643
Miscellaneous internal revenue
do.
307
1,453
243
217
590
191!
329
585
369
547
331
172
243
All other receipts. .
.
do "
Debt, gross, end of month:
258, 286
259, 071
259, 448
252, 23(5
252, 240
256, 574
256, 900
258, 343
254, 605
259, 145
258, 212
260.097
252,990
Public debt, total
do
255, 113
249, 95S
256, 270
256, 321
249, 920
254, 205
254, 975
252, 100
253, 958
256, 107
255, 591
257', 110
250, 634
Interest-bearing, total
do.
227, 747
226, 822
227, 805
220, 636
222, 854
224, 810
225, 250
228, 789
220, 718
226, 587
221,362
226, 074
227, 890
Public issues
do
27, 366
29, 447
29, 325
28, 516
26, 186
29, 201
29, 246
29, 148
28, 955
29, 620
29, 517
29, 220
29, 272
Special issues to trust accounts, etc
do_.I.
3,173
2,801
3,368
2,278
2,505
2,616
2,695
3,127
2,320
3,038
2,621
2,987
2,356
Noninterest bearing. _
do
Obligations guaranteed by U. S. Government
74
83
78
72
171
70
76
70
74
70
83
73
73
,
,
mil. of dol..
U. S. savings bonds:*
51,407
51, 928
53, 133
52, 575
61, 589
51, 282
53, 207
52, 174
52, 875
51,759
61, 699
52, 039
53. 061
Amount outstanding
do
482
559
488
432
468
770
488
607
487
412
460
466
'588
Sales, series E, F, and G
do
404
433
454
434
452
457
421
364
432
428
404
462
367
Redemptions.
do "
Government corporations and credit agencies:f
29, 666
30, 966
31, 037
31, 107
A^set*' except interagencv total
mil of dol
7, 662
9 714
9,212
10, 134
Loans receivable, total (less reserves)
do
2,054
2,269
2,399
2,200
To aid agriculture
do
556
660
665
623
To aid home owners
do
164
147
162
147
To aid railroads
do
224
272
240
259
To aid other industries
do
6
5
6
5
To aid banks
do
293
442
340
379
To aid other financial institutions
do
4,058
5,673
5,405
6,093
Foreign loans
do
714
591
597
613
All other
do
851
822
1,093
570
Commodities, supplies and materials
do
1,777
1,685
1, 725
1,845
U. S. Government securities
do
3,566
3, 539
3,553
3,526
Other securities
do
12,691
12,600
12,662
12, 535
Land, structures, and equipment
do
3,120
2,792
2,607
All other assets
do
2,496
2,634
2,895
2,808
2,724
Liabilities, except interagency, total
do
Bonds, notes, and debentures:
82
84
83
76
Guaranteed by the United States
do
689
667
506
781
Other
do
2,045
2,144
2,037
1,868
Other liabilities
do
269
138
143
150
Privatelv owned interests
do
28, 005
26, 763
28, 015
28, 233
U. S. Government interests _
do
r
Revised, p Preliminary.
I This series has been substituted beginning December 1945 for the series formerly designated "taxable treasury notes"; see note on item in September 1947 Survey for earlier data.
*New series. Revised monthly figures for 1929- 46 for total consumer short-term credit, total installment credit, total installment sale credit, total installment cash loans, charge account
sale credit, single-payment loans, and service credit outstanding are shown on p. 24 of the April 1948 Survey. See notes marked "*" p. S-15 and p. S-16, respectively, of the April 1946 and
September 1947 Survey with regard to unpublished revisions in the detail of sales debt and installment cash loans by lending agencies; except as indicated in these notes, data for these series
from the earliest year available are shown on pp. 17 and 18 of the November 1942 Survey. See note in the February 1947 Survey for information on the series for U. S. savings bonds and reference to the earliest data published.
fRevised series. Total Federal expenditures has been revised to include net expenditures (excluding debt retirement) of wholly-owned Government corporations, shown separately prior
to the October 1947 Survey, and several changes have been made in the detail. Data for "national defense and related activities" (formerly designated "war and defense activities") exclude
beginning July 1947 certain miscellaneous items included in earlier data (see note 5 on p. S-17 of September 1947 Survey). Data for Veterans Administration include veterans' pensions arid
benefits and transfers to trust accounts. Data for social security taxes have been revised to exclude railroad unemployment insurance contributions which are not classified as internal revenue.
See notes in May 1946, October 1946, and February 1947 issues of the Survey for explanation of changes in data for assets and liabilities of Gpvernment corporations and credit agencies; the
• • * " • • - "
—
, , . . . , . ,
.
..
; the exclusion of these
, and privately owned
SUEVEY OF CURRENT BUSINESS
July 1048
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-17
1948
1947
May
June
July
August
September
October
November
December
January
February
March
April
May
FINANCE—Continued
FEDERAL GOVT. FINANCE— Continued
Reconstruction Finance Corporation, loans outstanding, end of month, totalf
mil. of dol_.
Banks and trust cos incl receivers
do
Other financial institutions
do
Rfiilroads including receivers
do
Loans to business enterprises, except to aid in
national defense
mil ofdol
National defense
do
Other loans and authorizations
do
1,250
177
97
144
1,271
159
40
144
1,150
157
40
144
1,154
153
40
143
1,151
152
40
142
1,154
151
40
142
1,152
149
40
142
1,165
147
42
142
186
232
413
203
283
441
207
283
318
214
282
320
218
280
318
226
283
312
228
280
312
246
279
309
39, 776
5,750
615
5,135
614
1,477
30, 579
19. 274
17, 888
4,751
2,491
4,063
568
788
381, 212
39, 255
27, 162
65, 497
249, 298
40, 057
5,837
624
5,213
622
1,481
30, 740
19, 093
17, 704
4,965
2,522
4,160
588
789
400, 697
46, 305
24, 301
74, 416
255, 675
40, 287
5,953
632
5,321
631
1,485
30, 936
18, 986
17, 603
5, 111
2,512
4, 327
525
757
385, 075
63, 021
32, 100
65, 185
224, 769
40, 446
6,041
639
5,402
639
1,490
30, 940
18,864
17, 478
5,169
2,500
4,407
546
790
354, 410
41,310
27, 147
62, 122
223, 831
40, 693
6,131
641
5,490
641
1,494
30, 893
18, 640
17, 255
5,303
2, 504
4,446
703
831
390, 183
47, 410
27, 720
75, 045
240, 008
40, 903
6,242
645
5,597
658
1,498
31.093
18, 623
17, 241
5,446
2,499
4.525
582
830
374, 084
48, 640
30, 961
64, 059
230, 424
41, 069
6,340
649
5,691
665
1,500
31, 209
18, 451
17, 059
5,609
2,499
4,650
543
812
360, 046
45, 838
22, 478
63, 865
227, 865
41, 400
6,483
653
5,830
676
1,504
31, 272
18, Oil
16, 636
5,680
2,475
5,106
695
770
550, 395
109, 545
35, 849
101, 348
303, 653
41. 892
6,584
657
5,927
695
1,508
31, 447
17, 925
16, 539
5, 753
2,471
5,298
854
804
402, 586
62, 296
33,018
65, 235
242, 037
42, 070
6,694
668
6,026
700
1,513
31,617
17,709
16, 338
5,850
2,479
5, 579
723
823
411, 366
51, 275
36, 066
68, 528
255, 497
42, 345
6,816
678
6, 138
712
1,523
31, 851
17, 586
16, 208
5,979
2, 472
5,814
602
841
487, 268
87, 468
34, 674
80, 687
284, 439
42, 567
6,943
692
6, 251
749
1, 533
31, 960
17, 369
15, 991
6,101
2,502
5,988
524
858
42, 759
7, 058
706
6, 352
752
1, 542
32, 008
17, 215
15, 837
6, 203
2, 502
6,088
533
866
1,829
227
373
1,230
84
302
267
120
132
48
97
42
139
1,830
291
350
1,189
79
285
259
119
132
47
96
40
132
1,857
328
318
1,211
78
294
267
120
132
46
102
40
132
1,616
186
326
1,104
73
257
241
110
122
45
93
38
125
1,583
212
324
1,048
68
231
231
107
124
43
93
36
114
1,857
201
366
1,290
90
321
290
127
140
48
95
42
138
1,797
203
336
1,258
85
323
284
124
134
47
93
39
129
2,201
436
287
1,478
91
346
318
153
169
56
115
57
173
1,818
178
309
1,331
90
344
304
126
138
51
100
43
135
1,648
195
338
1,115
72
272
252
108
121
41
88
38
124
1,850
225
383
1,243
81
301
272
118
141
50
99
41
140
1, 858
201
369
1,287
85
326
278
120
148
51
99
41
140
1, 74f>
157
393
1, 196
81
289
255
112
140
48
98
40
134
245, 999
111, 679
34, 595
7,693
18, 315
41, 269
32, 448
251, 165
108, 444
34, 270
7,753
18, 868
49, 237
32, 593
247, 203
115, 958
30, 997
8,509
19, 098
40, 119
32, 522
218, 389
101,415
28, 367
6,358
17, 574
35, 218
29, 457
236, 414
108, 179
30, 167
7,269
17, 795
42, 364
30, 640
247, 149
112, 523
36, 261
7,609
18, 024
38, 527
34, 205
219, 223
101, 334
29, 838
6,924
17, 975
35, 323
27, 829
283, 410
122, 777
31, 168
8,118
16, 216
69, 114
36, 017
278, 138
121, 007
38, 987
8,723
24, 275
52, 452
32, 694
250, 600
113, 860
35, 496
7, 111
18, 014
44. 694
31,425
307, 077
142, 339
40, 157
8,356
19, 438
55, 083
41, 704
273, 084
123, 590
36, 706
7,963
19, 881
44, 446
40, 498
244, 544
109, 455
32,986
7, 472
18,164
40, 377
36, 090
.2977
.0228
.0544
.9159
.5698
.0084
.3016
.2058
.3775
.2783
4. 0272
.2977
.0228
.0544
.9165
. 5698
.0084
.3017
.2058
.3776
.2783
4. 02V1
.2977
.0228
.0544
.9200
.5698
.0084
.3017
.2058
.3775
.2783
4. 0273
.2977
.0228
.0544
.9036
.5698
.0084
.3017
.2058
.3775
.2782
4. 0300
.2977
.0228
.0544
.8999
.5698
.0084
.3017
.2058
.3776
.2782
4. 0310
.2977
.0228
.0544
.8959
.5698
.0084
.3018
.2058
.3777
.2783
4. 0305
.2977
.0228
.0544
.8836
.5698
.0084
.3018
.2058
.3770
.2783
4. 0313
.2977
.0228
.0544
.9046
.5699
1.0084
.3017
.2058
.3765
.2783
4. 0307
.2977
.0228
.0544
.8906
.5701
2 . 0047
.3017
. 2058
. 3771
.2783
4. 0311
.2977
.0228
.0544
.8928
. 5701
2 . 0047
.3017
.2058
. 3775
.2783
4. 0313
.2977
.0228
.0544
.9063
.5701
2. 0047
3 . 3017
.2058
.3776
. 2783
4.0315
.2977
.0228
. 0544
.9227
.5701
2
.0047
3.3017
.2057
.3775
.2783
4. 0312
21, 266
118, 958
2,685
202, 917
r
60, 108
' 38, 142
9,418
6,117
21, 537
26, 745
3,639
222, 839
' 64, 601
r 39, 785
9,149
7,319
21, 766
42, 317
5, 118
116, 776
' 62, 069
' 39, 181
9,131
7,033
21, 955
22, 294
-3, 968
153, 112
5,619
2,085
456, 450
111, 685
* 61, 095
'61,286
r
' 38, 833 37, 776
9,057
8, 668
8,185
6,979
22, 614
-82, 786
1,600
267, 301
r
60, 188
•• 37, 396
8,826
6,243
22, 754
22, 935
-44, 592 -14, 859
2,509
6,590
241, 568
180, 674
' 60, 891 r
r
38, 034
39, 079
9,614
9,568
6,042
7,281
23. 036
-72, 165
2,250
161, 948
23, 169
23, 137
-63, 376 -111,546
28, 178
27, 385
262, 334
127, 328
r 23, 304
-2, 841
61, 887
213,214
LIFE INSURANCE
Life Insurance Association of America:
Assets, admitted, 36 companies, totali.mtl. of dol__
Mortgage loans, total
do
Farm
_ _ _
do
Other
do
Real-estate holdings
do
Policy loans and premium notes
do_ _..
Bonds and stocks held (book value), total _ do
Govt. (domestic and foreign), total.. _ _ d o _ ._
U. S. Government
do
Public utility
do
Railroad
do
Other
do _
Cash
do
Other admitted assets
_do _
Premium collections total!
thous of dol
Annuities
do
Group
do
Industrial
do
Ordinary
do
Life Insurance Agency Management Association:
Insurance written (new paid-for-insurance):f
Value total
mil. of dol
Group
_
do __
Industrial
do
Ordinary, total
_ do _ _ _
New England
do
Middle Atlantic
do .
East North Central
do
West North Central
do_ _
South Atlantic
do
East South Centra]
do _
West South Central
__.do
Mountain
do
Pacific
do
Institute of Life Insurance:*
Payments to policyholders and beneficiaries,
total
__thous. of dol__
Death claim payments
_
do
Matured endowments
do
Disability payments
do
Annuity payments
._do_ _
Dividends
do
Surrender values, premium notes, etc ._ do
MONETARY STATISTICS
Foreign exchange rates:
.2977
Argentina
dol. per paper peso. _
.0228
Belgium
dol. per franc
.0544
Brazil, free rate§
__dol. per cruzeiro-.
.9195
Canada, free rate§
dol. per Canadian dol
.5698
Colombia
dol. per peso
.0084
France
_
dol. per franc
.3016
India.
dol. per rupee
.2058
Mexico
_ dol. per peso
.3776
Netherlands
dol. per guilder
.2782
Sweden
dol. per krona
4. 0274
United Kingdom, free rate
dol. per £
Gold and silver:
Gold:
20, 933
Monetary stock, U. S
mil. of dol__
13, 057
Net release from earmark*
thous. of dol__
3,028
Gold exports^
do
132, 762
Gold imports!
do
' 63, 133
Production, reported monthly, total®___do
' 39, 691
Africa
do
9,412
7,220
r
36, 561
9,177
5,650
5, 489
6,372
United States®
do
Silver:
5,763
2, 564
1,636
352
229
220
1,042
374
2, 509
630
1,636
1,685
1,387
Exportsf
thous. of doL.
7,222
5.560
9,146
6,196
3,296
5,331
6,917
4,659
3,410
6.087
4,408
4,440
4,488
Imports^. _
do
.746
^746
.746
.746
.746
.657
.636
.746
.746
.716
.668
.706
.725
Price at New York
...
dol. perfineoz
Production:
r
1,090
921
954
1,099
1,094
1,062
924
1, 036
958
1,029
1,085
929
Canada
thous. of fine oz
3.216
2,070
3,253
3,724
3,938
3,383
3,243
3,589
2,594
1,924
2,180
3,896
2,746
United States
_
do_..«
r Revised.
* Preliminary.
1 Based on quotations through January 23 when franc was devaluated.
2
3
Official rate. The February figure is based on quotations beginning February 10; the free rate for this period and succeeding months is $0.0033. Excludes Pakiston.
{See note on item in September 1947 Survey for coverage of data and information on a substitution for one company in the assets series in 1944. Beginning January 1948, the data include
total assets of one company that formerly reported assets of the life department only; assets of the accident and health department of this company represent about one-half of 1 percent of total
assets for the 36 companies.
§See note on item in September 1947 Survey regarding official rate.
<8>See notes in the April 1946 and August 1946 issues regarding revisions in the data for 1941-44 and January-May 1945 and note in the January 1948 Survey regarding revisions in the 1946
figures for the United States and corresponding revisions in the total. Beginning in this issue figures for Africa and the total include production in Belgian Congo and the total includes also
production in Mexico and revised figures for Australia. Heretofore data for Belgian Congo and Mexico have not been available currently since May 1940 and March 1942, respectively, and
figures reported through May 1940 for Belgian Congo represented only about 50 percent of production while those formerly included for Australia after December 1943 covered Western
Australia only Revised annual figures for 1938-46 and monthly figures for January 1946-April 1947 for the total and Africa are available upon request.
^Publication of data was suspended during the war period; data for November 1941-February 1945 will be published later.
tRevised series. All series for insurance written are estimated industry totals and for group and industrial insurance are not comparable with data published prior to tne March I94b burvey
(see note in that issue); data for 1940-44 for these series will be shown later; data for ordinary insurance continue the data from the Life Insurance Sales Research Bureau published in the 1942.
Supplement and subsequent monthly issues. See note in November 1943 Survey for explanation of revision in classifications for the Reconstruction Finance Corporation.
*New series. See November 1942 Survey, p. S-16, for a brief description of the series on payments to policy holders and beneficiaries and data for September-December 1941 and early 1942.
SUBVEY OF CURRENT BUSINESS
S-18
July 1948
1948
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
May
June
July
August
September
October
November
December
January
February
March
April
May
FINANCE—Continued
MONETARY STATISTICS— Continued
Money supply:
Currency in circulation
mil. of dol_
Deposits adjusted, all banks, and currency oufrside banks, total*
mil. of dol_Deposits, adjusted, total, including U. S. deposits*
mil. of dol.
Demand deposits, adjusted, excl. IT. S.*_do
Time deposits, incl. postal savings*
do
Turnover of demand deposits, except interbank and
U. S. Government, annual rate:*
New York City
ratio of debits to deposits
Other leading cities
do
28, 261
28,297
165,000
165, 455
r
138, 900
81, 500
55, 200
139, 156
82, 134
55, 655
r
22.7
17.3
25.6
17.9
28, 434
28, 149
28, 567
166, 200
r
166, 900
r
140, 200
83, 000
55,800
'r140, 800
83, 300
55,800
r
22.9
17.2
20.6
16.6
r
28, 552
168, 400
169, 700
142, 100
84, 100
56, 100
r
23.1
18.0
r
28, 766
r
27, 781
27, 716
^27, 807
170, 200 * 171, 346 v 170, 100 9 168, 800 9 166,400
»167, 700
P167, 800
p 143, 200 9 140, 900
9 84, 600 9 81, 600
v 56, 800 9 56, 900
P142, 400
*>83, 000
P56, 900
P142, 440
*>83, 160
*>56, 930
26.4
19.1
26.5
18.6
27.9
18.7
143, 500
85, 400
56, 300
143, 800
85, 900
56, 000
23.9
18.2
26.6
19.8
r
28, 868
r
28, 111
144, 970 9 144, 400
87, 123 9 86, 600
56, 395 9 56, 500
T
r
29.9
20.0
26.2
18.7
28,019
25.6
18.6
PROFITS AND DIVIDENDS (QUARTERLY)
Industrial corporations (Federal Reserve):
Net profits, total (629 cos.)cf
-mil. of dol._
Other transportation equip (68 cos )
do
Nonferrou5! metals and prod (77 cos )
do
Other durable goods (75 cos )
do
Foods, beverages and tobacco (49 cos.) ---do
Industrial chemicals (30 cos.)
Other nondurable goods (80 cos )
Profits and dividends (152 cos.):*
Net profits
Dividends:
do
do
do
867
100
83
105
153
46
58
64
110
87
92
71
900
100
77
103
157
45
59
85
121
81
93
80
1 033
112
105
115
146
59
71
108
160
88
90
80
9\ 030
432
432
501
P527
23
192
166
22
190
135
23
278
160
P22
P207
P186
9 87
P130
p i 61
P49
P62
P83
»196
p90
P57
Railways and Telephone cos. (see pp. S-22 and
S-23).
SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
813
741
542
785
709
1,038
1,409
951
541
1,160
2 1, 044
857
652
capital and refunding)!
mil. of dol.__
713
608
351
621
745
355
784
1,257
1,029
495
802
2870
591
New capital total J
do
713
608
326
621
745
333
783
1,221
495
619
1,026
801
Domestic totalj
do
591
132
470
599
258
519
212
562
560
365
926
546
483
374
Corporate J
do
8
37
15
0
15
31
50
12
85
0
39
16
35
Federal agencies
do
185
114
212
101
106
171
630
114
124
277
99
217
182
Municipal, State, etc
do
25
0
0
0
2
37
22
1
1
4
0
0
Foreign
do
0
191
134
101
152
293
354
166
175
165
56
130
46
61
Refunding total J
do
191
134
101
166
255
354
152
165
56
130
46
170
Domestic, totalj
_ _
do
61
147
84
76
214
319
50
97
14
122
83
118
3
4
C orp orate t
do
40
48
38
20
33
114
£4
42
42
45
39
40
Federal agencies
_
do_ _
49
3
2
5
2
11
1
2
2
3
Municipal, State, etc
do
8
W
0
0
0
38
0
0
0
0
5
0
Foreign
_
_
do
0
Securities and Exchange Commission^
1,050
2,414
1,253
2,041
2,029
1,357
1,225
1,407
1,376
2,038
1,552
1,777
Estimated gross proceeds, total
do
1,158
By types of security:
1,026
2,207
1,104
1,900
1,088
1,983
1,297
1,261
1,324
1,859
1,332
1,589
1,063
Bonds notes and debentures, total _ do
223
412
414
596
309
526
642
294
393
346
899
412
298
Corporate
_ _ _ _
do
15
31
112
112
51
25
57
24
49
67
70
110
69
Preferred stock
_ _ _ _ _ do
10
118
150
30
26
58
21
170
29
108
28
79
26
Common stock
do
By types of issuers:
248
561
738
446
622
636
688
613
346
441
1,078
601
394
Corporate total
_
. _ _ do_
81
145
218
262
170
273
126
441
73
504
98
246
146
Industrial
- _
- do
141
284
542
269
325
308
229
121
167
310
498
311
219
Public utility
- - do
23
35
37
29
52
37
81
35
5
24
20
28
24
Rail
-••. do
3
22
42
22
17
10
157
16
14
53
56
57
4
Other (real estate and financial)__.'_.-do
802
1,792
692
1,304
779
915
1,341
771
1,030
939
21,177
960
764
Non-corporate, total®
_ do_
614
589
1,673
1,051
653
597
708
718
637
854
913
790
TJ S Government
do
574
0
0
0
0
0
0
0
0
0
0
0
0
Federal agency not guaranteed
do_ _ _
0
188
214
103
118
106
174
633
116
220
278
105
136
State and municipal
_
_ do__
190
0
0
37
0
20
0
0
0
0
0
0
0
0
Foreign
do
New corporate security issues:
245
727
679
594
612
547
437
626
434
340
1,063
588
384
Estimated net proceeds, total
_._do
Proposed uses of proceeds:
118
498
425
180
434
294
510
560
546
435
244
932
345
New monev total
do
99
426
309
354
109
334
388
343
179
193
370
800
297
Plant and'equipment
__.do
19
72
71
217
100
237
122
71
101
65
64
132
48
Working capital
_ _
do
121
222
251
166
103
32
78
114
47
163
105
129
Retirement of debt and stock
do
21
102
164
15
74
198
83
62
14
154
91
6
1
103
Funded debt
_
do _
16
15
45
19
104
22
30
12
26
22
9
17
20
Other debt
do
3
1
43
34
12
18
7
0
2
0
1
9
0
Preferred stock
do _
6
25
24
6
1
18
7
6
26
14
24
26
Other purposes
.
_ do
18
Proposed uses by major groups:
141
79
166
269
259
213
123
95
425
239
496
141
71
Industrial total net proceeds - do
129
65
96
129
154
193
83
45
175
422
390
70
109
New money
- do
41
13
31
65
71
110
24
35
21
40
56
67
19
Retirement of debt and stock
do_ »
140
536
225
265
119
303
306
277
307
320
164
493
216
Public utility, total net proceeds
do
28
31
353
245
233
106
280
234
149
157
281
480
New money
do_ _
209
107
181
192
12
8
31
72
31
136
12
6
36
Retirement of debt and stock
___do
2
23
28
34
35
37
51
5
37
28
80
23
20
Railroad total net proceeds
do
24
23
28
16
34
32
4
31
37
22
42
23
20
New money
_ _ _ do
24
2
4
0
22
0
19
0
37
0
0
0
0
Retirement of debt and stock
do _
0
Real estate and financial, total net proceeds
21
14
2
10
54
16
157
41
16
61
21
57
mil. of dol..
6
2
6
2
3
52
15
15
153
15
9
38
7
New money
do__..
3
Retirement of debt and stock
do
5
(°)
1
1
4
(°)
1
26
2
1
(«)
7
(«)
r
Revised. f> Preliminary. 1 Partly estimated. 2 Includes $250,000,000 bonds of International Bank. (°) Less than $500, 000.
cTSee p. 31 of the October 1946 Survey for revised 1941-44 data for 629 companies and the industrial groups. JSee note in the April 1946 Survey for revisions in the data for 1944
® Includes data for nonprofit agencies not shown separately. The July figure includes also $250,000,000 bonds of International Bank.
*New series. For data for 1929-40 for profits and dividends of 152 companies, see p. 21 of the April 1942 Survey; 1941-44 revisions are available upon request. See note on p. S-17ofSeptember 1944 Survey for description of series on net income of electric utilities and data beginning third quarter of 1943. For a brief description of the series on bank deposits and cur rency outside banks and data beginning June 1943, see p. S-16 of the August 1944 Survey; beginning January 1947 data are for the last Wednesday of the month instead of the end of the month. Data
beginning 1939 for turn-over rate of bank deposits and a description of the data will be published later.
fRevised series. There have been unpublished revisions in the 1941-44 data for security issues compiled by the Securities and Exchange Commission, as indicated from time t o time in
notes in the Survey, revisions in the 1945 data as shown in the September 1946 and earlier issues, and in the 1946 data shown in the November 1947 and earlier issues; all revisions will bepublished
later.
o
SURVEY OF CURRENT BUSINESS
July 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-19
1948
1947
May
June
July
August
September
October
November
December
January
February
March
639, 938 'r182, 626
94, 387
103, 453
188, 305
24, 727
April
May
FINANCE—Continued
SECURITIES ISSUED— Continued
State and municipal issues (Bond Buyer):
Permanent (lone; term)
thous of dol
Temporarv (short term)
do
108, 502
29, 927
214, 749
49,717
144, 801
136, 364
194, 220
30, 715
275, 006
77, 113
121, 034
85, 242
105, 875
23, 010
101, 195
148, 464
125, 763
77,416
227, 408
79, 895
328
369
358
531
601
509
503
482
847
393
651
241
373
227
424
282
488
272
483
291
454
280
390
278
276
260
530
552
395
222
650
564
550
570
606
593
537
550
572
615
251
677
241
656
280
630
257
616
247
617
578
393
240
612
568
201
652
217
622
208
596
229
592
241
614
258
619
102. 49
1C2. 92
75.32
102. 25
102. 70
74.02
102. 33
102. 77
74.16
102. 62
103. 09
73.28
102. 06
102. 54
73.28
* 101. 19
101. 65
71.90
i 100. 46
100. 93
70.51
i 99. 62
100. 11
68.96
i 99. 77
100. 27
68.77
i 99. 84
100. 35
67.61
1 99. 97
100. 54
65.20
i 100. 19
100. 74
65.99
100. 80
101. 35
66.45
122.9
122.8
122.5
122.3
121.5
120.0
118.8
117.0
117.4
117.5
118.0
118.6
118.7
115.0
123.2
112.5
109.2
61.9
133.9
104.5
114.3
122.6
113.0
107.3
63.4
134.4
104.1
115.7
122.8
113.8
110.5
69.6
134.7
103.8
116. 1
123.9
113.9
110.4
69.6
134.3
103.9
115.1
121.9
114.1
109.3
68.6
134.4
104.0
114.0
120.8
114.3
106.9
69.4
132.5
103.4
113.3
120.0
114.7
105.1
68.1
129.4
102.1
112.5
119.1
113.9
104.6
112.4
118.9
113.7
104.6
112.1
119.1
113.5
103.7
114.1
119.6
116.4
106.4
.(")
125.7
100.8
115.6
120.4
118.9
107.4
71,024
98, 349
67, 490
88, 531
85, 253
109, 385
64, 886
81, 063
60, 326
80, 312
85, 862
121, 655
63,880
90,458
58, 248
78, 115
76, 972
99, 723
56, 618
70, 705
51, 284
69, 316
82, 526
140
82, 386
75, 863
6,523
70, 077
386
69, 691
63, 590
6,101
96, 661
1,152
2 95, 509
76, 937
5,101
60, 490
14
2 60, 476
52, 588
5,216
COMMODITY MARKETS
Volume of trading in grain futures::}:
Wheat
Corn
mil. of bu
do __
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. Members
Carrying Margin Accounts)^
Customers' debit balances (net)
Cash on hand and in banks
Money borrowed
Customers' free credit balances
mil of dol
do
__do _
do
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.)
dollars..
Domestic
do
Foreign
~
do
Standard and Poor's Corporation:
Industrials, utilities, and railroads:
High grade (15 bonds)
dol. per $100 bond__
Medium and lower grade:
Composite (50 bonds)
___do
Industrials (10 bonds)
do
Public utilities (20 bonds)
do
Railroads (20 bonds)
do
Defaulted (IE bonds)
_
_
do_ _
Domestic municipals (15 bonds)f
do
U. S. Treasury bonds (taxable)t __ _ . .do__
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value §
thous. of dol. _
Face value §
_do
On New York Stock Exchange:
Market' value §
do
Face value §
do
Exclusive of stopped sales (N. Y. S. E.), face
value, total
thous. of dol__
U S Government
do
Other than U.S. Government, total ._ do
Domestic
do
Foreign
_ _
do
Value, issues listed on N. Y. S. E.:
Face value all issues
mil. of dol
Domestic
do
Foreign
do
Market value all issues
do
Domestic
- do__
Foreign
do
Yields:
Domestic corporate (Moody 's)
percent. .
By ratings:
Aaa
do
Aa
__
_
do
A
do
Baa
_
_
do__
By groups:
Industrials
do
Public utilities
do
Railroads
do
Domestic municipals:
Bond Buyer (20 cities)
.
do
Standard and Poor's Corp. (15 bonds) — do
U. S Treasury bonds, taxablef
do
137, 019
134, 856
2,163
140, 426
138, 797
1,629
1
(a)
(a)
126.2
101.6
124.5
100.7
112.4
119.3
114.1
103.8
(°)
122.6
100.7
63, 949
87, 497
145, 181
186, 213
98, 892
134, 381
60, 126
84, 508
67, 055
95, 180
78, 192
112, 210
59, 511
81, 663
137, 971
178, 255
93, 971
128, 055
56, 161
79, 154
62, 799
89, 511
105, 990
73, 440
73
219
2 73, 367 2 105, 771
63, 949
95, 246
9,265
7,344
81, 823
39
2 81, 784
73, 830
6,431
69, 745
16
69, 729
63, 511
5,846
85,367
79
2 85, 288
74, 326
10, 721
2
141, 873
125
141, 748
131, 041
8,581
2
111,380
185
111, 195
102, 419
7,013
137, 058 3 137, 563 3 137, 628 s 137, 666 3 136, 711 3 136, 879 3 136, 727 3 136, 543
134, 346
135, 281
134, 932
134, 556
134, 173
134, 347
135, 175 135, 210
2,135
2,126
2,073
2,115
2,120
2,168
2,130
2,138
140, 148 3 140, 763 3141,236 3 140, 499 3 138, 336 3 137, 509 2 136, 207 3 136, 232
136, 568
138, 715
138, 574
135, 804
134, 537
134, 500
138, 923 139, 394
1,533
1,574
1,462
1,521
1,458
1, 589
1,469
1,585
2
(a)
123.1
100.8
(a)
127.0
101.2
2
87, 151
132, 534
87, 363
119, 745
«• 81, 942
125, 834
r
83, 047
113, 325
114, 479
108, 954
51
52
114, 428 2 108, 902
106, 223
99, 580
7,931
8,975
3
136, 531 3 134, 201 3 134, 297
131, 931
134, 170 131, 835
2,111
2,116
2,116
3
136, 313 3 134, 167 3 134, 546
132, 903
134,645 132, 544
1,379
1,396
1,427
3
3
134, 300
131, 931
2,119
135, 370
133, 714
1,408
2.79
2.81
2.80
2.80
2.85
2.95
3.02
3.12
3.12
3.12
3.10
3.05
3.02
2.53
2.63
2.82
3.17
2.55
2.64
2.83
3.21
2.55
2.64
2.82
3.18
2.56
2.64
2.81
3.17
2.61
2.69
2.86
3.23
2.70
2.79
2.95
3.35
2.77
2.85
3.01
3.44
2.86
2.94
3.16
3.52
2.86
2.94
3.17
3.52
2.85
2.93
3.17
3.53
2.83
2.90
3.13
3.53
2.78
2.87
3.08
3.47
2.76
2.86
3.06
3.38
2.60
2.71
3.05
2.60
2.72
3.10
2.62
2.72
3.06
2.63
2.72
3.03
2.67
2.78
3.09
2.76
2.87
3.22
2.84
2.93
3.30
2.92
3.02
3.42
2.91
3.03
3.44
2.90
3.03
3.43
2.89
3.01
3.40
2.85
2.97
3.34
2.82
2.95
3.27
1.83
1.95
2.19
1.81
1.92
2.22
1.81
1.91
2.25
1.83
1.93
2.24
1.84
1.92
2.24
1.97
2.02
2.27
2.09
2.18
2.36
2.35
2.35
2.39
2.40
2.45
2.45
2.48
2.55
2.45
2.42
2.52
2.45
2.34
2.38
2.44
2.23
2.31
2.42
Stocks
Dividends:
Cash dividend payments and rates, 600 cos.,
Moody's:
Total annual payments at current rates
(0)
2,482
2,511
2,539
2,482
2,463
2,358
2,387
2,329
2,348
2,310
2,473
mil. of dol. _
2,310
(a)
954. 65
954. 65
954. 65
954. 65
954. 65
954. 65
954. 65
954. 65
954. 65
954. 65
954. 65
Number of shares, adjusted
millions
954. 65
Dividend rate per share (weighted average)
(a)
2.66
2.50
2.63
2.60
2.47
2.42
2.60
2.58
2.46
2.44
2.59
dollars _ _
2.42
(a)
3.21
3.21
3.21
3.21
3.21
3.21
3.21
3.21
3.21
3.21
3.21
Banks (21 cos.)
do
3.21
2.83
2.62
2.56
2.77
2.79
2.76
2.72
2.52
2.55
2.51
2.75
Industrials (492 cos.)
do
(«)
2.50
2.59
2.59
2.59
2.59
2.59
2.59
2.59
2.59
2.59
2.59
2.59
Insurance (21 cos.)
do
2.59
1.99
1.99
1.99
2.00
2.00
2.00
2.00
1.99
1.98
1.99
1.99
Public utilities (30 cos.)
do
1.96
2.68
2.68
2.68
2.56
2.56
2.57
2.63
2.68
2.66
2.67
Railroads (36 cos.)
do
2.56
2.66
Cash dividend payments publicly reported:*
573.2
427.4
662.2
199.4
595.5
456.0
168.9
527.8
176.9
451.4
192.6
173.5
1,139.6
Total dividend payments
mil, of dnl
362.4
196.1
101.2
100.2
197.9
224.9
199.6
389.5
99.3
370.0
93.8
726.9
93.5
Manufacturing _
do __
2.4
40.4
6.9
1.9
11.9
6.6
55.7
65.8
6.8
1.3
1.4
1.4
99.9
Mining
do
42.1
7.6
39.4
43.5
40.6
17.1
55.9
36 7
9.3
29.6
8.5
9.6
67.3
Trade
_
do___
23.6
62.9
100.5
23.2
60.6
36.7
54.3
22.4
31.7
92.8
33.7
34.0
98.7
Finance
do
22.4
34.2
8.2
30.1
13.2
3.0
23.7
6.1
5.7
4.0
17.0
51.3
11.1
Railroads
do _
35.3
50.5
35.9
32.9
37.2
52.5
37.2
47.7
35.5
43.7
56.0
50.0
46.0
Heat, light, and power
do
10.6
54.3
.3
10.9
53.7
50.7
.3
.3
10.5
.3
51.5
.3
13.1
Communications
do
11.2
5.2
12.9
2.9
2.2
18.6
19.4
18.5
12.0
36.4
2.5
12.0
3.4
Miscellaneous
do. _
r
Revised. JData continue series in the 1942 Supplement. ° Discontinued. * Prices of bonds of the International Bank are included in computing the averages.
2 Includes sales of bonds of International Banks as follows: 1947— July, $13,471,000; August, $2,672,000; September, $2,074,000; October, $1.260,000; November, $1,523,000; December, $2,126,000;
1948— January, $1,763,000; February, $372,000; March, $241,000; April, $274,000; May, 347,000.
3
Includes bonds of International Bank as follows:— Face value—July 1947 to May 1948, $250,000,000; market value— 1947; July, $255,000,000; August, $253,000,000; September, $251,000,000;
October, $248,000,000; November, $244,000,000; December, $238,000,000; 1948; January, $237,000,000; February, $241,000,000; March, $244,000,000; April, $247,000,000; May, 248,000.
§Since March 18, 1944, United States Government bonds have not been included.
ISee note in September 1947 Survey for source of data.
*New series. Data for dividend payments for 1941-44 are available on p. 20 of the February 1944 Survey and p. 31 of the February 1947 issue. Revised data for January 1947 will be shown
in a later issue.
fRevised series. For explanation of revision in the series for municipal bonds and data beginning February 1942, see p. S-19 of the April 1943 Survey; earlier data will be published later.
Revised figures through 1943 for prices and yields of U. S. Treasury bonds and a description of the data are on p. 20 of the September 1944 Survey.
SUEVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
July 1948
1948
1947
May
June
July
August
September
October
November
December
January
February
March
April
May
FINANCE—Continued
SECURITY MARKETS— Continued
Stocks— Continued
Dividends— Continued
Dividend yields:f
Common stocks (200), Moody's
percent..
Banks ( 1 5 stocks) . . .
. d o
Industrials (125 stocks).
do
Insurance (10 stocks)
do
Public utilities (25 stocks)
do
Railroads (25 stocks) _
do
Preferred stocks, high-grade (15 stocks), Standard and Poor's Corporation
percent..
Prices:
Average price of all listed shares (N. Y. S. E.)
Dec. 31, 1924=100__
Dow-Jones & Co. (65 stocks)
dol. per share..
Industrials (30 stocks)
__
. do
Public utilities (15 stocks)
do
Railroads ( 2 0 stocks) _ _ _ _ _ _.
do. .
Standard and Poor's Corporation:
Industrials, utilities, and railroads:
Combined index (402 stocks) ___1935-39= 100. _
Industrials (354 stocks)
do
Capital goods (116 stocks) . _ _ _ do
Consumer's goods (191 stocks)
do
Public utilities (28 stocks)
_ . _ do
Railroads (20 stocks)
do
Banks, N. Y. C. (19 stocks)
_ . _ do
Fire and marine insurance (18 stocks)
do
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
mil. of dol..
Shares sold
thousands
On New York Stock Exchange:
Market value
__ mil. of dol.
Shares sold
thousands
Exclusive of odd lot and stopped sales (N. Y.
Times)
thousands. .
Shares listed, N. Y. S. E.:
Market value, all listed shares
mil. of dol__
Number of shares listed
millions
'5.4
44.6
'5.4
'3.8
'5.4
'6.6
'5.2
4.6
'5.1
3.5
'5.5
'6.4
'5.0
4.4
'4.9
'3.6
'5.5
'5.9
'5.2
4.4
'5.1
'3.7
'5.5
'6.1
'5.3
4.5
'5.2
'3.7
'5.6
'6.2
'5.2
4.5
'5.2
'3.6
'5.6
'6.2
'5.5
4.7
'5.5
'3.6
'6.0
'6.3
5.4
4.7
'5.4
3.5
'6.0
'5.8
'5.6
4.6
'5.7
'3.5
'5.9
'5.8
'5.9
4.8
'6.0
'3.6
'6.0
'6.1
'5.6
4.6
'5.6
'3.4
'6.0
'5.9
5.5
4.5
5.5
'3.3
'5.9
'5.6
5.3
4.4
5.3
3.1
5.8
5.2
3.76
3.76
3.72
3.71
3.72
3.86
4.01
4.07
4.13
4.18
4.12
4.12
4.09
74.4
59.49
168. 67
33.39
43.60
77.3
61. 26
173. 76
33.98
44.86
80.3
65.32
183. 51
35.61
49.39
78.3
64.36
180.08
35.58
48.73
77.5
63.39
176. 82
35.25
48.10
78.7
63.93
181. 92
35.48
49.44
75.8
63.98
181. 42
34.10
47.79
76.8
63.66
179. 18
33.04
49.46
73.9
63. 78
176. 26
33.06
51.44
70.5
60.91
168. 47
31.95
49.19
75.5
61.75
169. 94
32.24
50.64
78.0
66.03
180. 05
33.75
56.03
82.8
69.11
186. 38
35. 16
60.32
115. 2
119.0
108.0
121. 4
102.0
95.1
95.0
114.0
119.1
124.1
111.9
126.4
100.8
97.6
94.7
117.0
126.0
131.7
118.9
134.6
102.2
108.2
97.3
120.5
124.5
130.2
117.0
132.4
101.4
105.2
98.0
116.1
123.1
128.4
115.7
130.5
102.0
103.6
97.5
114.0
125.1
131.1
119.1
132.8
101.0
104.2
96. 7
116.4
123.6
130.3
118.9
131.1
97.2
100.1
94.8
117.3
122.4
129.2
117.5
128.4
94.0
103.9
91.0
116.9
120.1
126.0
115.0
125.1
95.1
106. 5
93.9
119.6
114.2
119.2
108. 9
117.8
92.6
101.9
91.2
117.7
116.4
121.8
111.3
118.9
93.0
105.2
92.5
119.5
124.6
130.8
120.0
125.6
96.2
115.2
94.2
125.4
130.2
137. 0
125.1
131.1
99.2
122.6
97.5
131.1
889
40, 362
813
35, 588
1,062
45, 845
728
29, 662
722
31,649
1,230
55, 736
812
37, 277
1, 178
53, 160
924
40, 123
777
34, 336
897
41, 447
1,433
63,059
1,717
77, 141
745
28, 021
677
23, 882
900
33, 259
624
21, 600
611
21, 556
1,043
40, 620
681
26, 326
1,003
' 38, 688
785
28, 696
659
24, 704
759
29, 774
1,219
45,304
1,468
57, 304
20, 616
17, 483
25, 473
14, 153*
16, 017
28, 635
16, 371
27, 605
20, 218
16, 801
22, 993
34, 613
42, 769
63, 646
1,814
66, 548
1,829
69, 365
1,847
68, 184
1,862
67, 522
1,870
68, 884
1,879
67, 026
1,896
68, 313
1,907
66, 090
1,923
83, 158
1,928
67, 757
1,933
70, 262
1,938
74, 704
1,962
FOREIGN TRADE
INDEXES
Exports of U. S. merchandise:
262
255
242
312
274
'208
' 212
263
'223
219
229
237
Quantity}:
1923-25=100
315
337
337
289
351
304
312
346
400
290
315
293
298
Value}:
___
_. _ _ do
132
129
128
'139
128
'136
136
'136
133
131
130
Unit value _ _ _ _
do
136
Imports for consumption:
118
122
136
126
124
108
154
141
140
143
126
118
Quantity
_. _
_ do
139
127
141
148
164
180
175
158
147
143
200
176
170
Value
do
'124
118
119
118
128
124
118
117
118
130
120
Unit value
do. __
'130
Agricultural products, quantity:!
Exports, domestic, total:
98
98
111
98
115
99
105
85
86
97
91
80
Unadjusted}:
1924-29—100
127
94
104
82
139
80
145
84
81
'103
87
101
Ad justed |
do
Total, excluding cotton:
172
184
178
183
173
288
134
163
143
139
159
133
Unadjusted}:
_ _ _ _ do
220
212
144
143
205
170
175
'162
142
Adjusted}:
do
163
140
143
Imports for consumption:
102
84
74
124
93
93
89
114
123
111
101
86
Unadjusted
.
___do
93
115
80
105
109
107
102
100
98
118
96
80
Adjusted
do
SHIPPING WEIGHT*
22, 745
26,509
24, 938
23, 692
12, 984 ' 11, 900
27, 418
11, 477
14, 728
23, 432
20,564
Exports, including reexports . _
mil. oflb
11, 264
10, 103
General imports
._
.do
10, 317
' 9, 348
10, 530
9,799
11, 281
8,868
9,978
10, 101
9,258
VALUE.
1,265
1,503
1,265
1,141
1,091
1,086
1,303
1,320
1,185
Exports, total, including reexports}:
mil. of dol_.
1,185
1,172
' 1, 123
1, 103
1,121
1, 354
1,195
1,111
925
920
Commercial*
do
921
943
1,198
1,095
1.068
'936
1,046
143
125
153
146
166
117
Foreign aid and relief*
do. .
165
105
197
182
90
126
'187
By geographic regions:
70, 434
Africa
_
thous. of dol
65, 751
62 374
' 86, 780 74, 829
66, 150
68 967
65, 763
76 702
72 184
78 633
57 831
240, 882
253, 317
256, 074
187, 734
195, 429
227, 822
191, 747
Asia and Oceania J
do
190, 621 201 102
217, 647
209, 155 225 646
470, 952
481, 143
565, 180
409 202 374 356
470, 735 448, 436
Europe J
- d o
400, 861
398 660
446 833 404 312 403 345
' 210,091 191,551 170, 456
138, 356
202, 776
174, 909
176, 795
Northern North America
do
151, 286
141, 514
180 983
151 105
150 817
126, 988
130, 155
126,057 ' 124, 762 164, 096
Southern North America
do... '148,697
118, 606
113,418 126, 105 127 878
149,793 161, 485
187, 557
' 238, 804 193, 251
197, 148
176, 736
South America
_ _ _
do
195, 824
174, 884
197, 977
179 001 ' 197 889 176, 156
188 945
Total exports by leading countries:
Europe:
56, 841
75, 102
65, 096
64 545
' 88, 116
France
. _ _
...._
do
58 248
59 556
70 859
57 195
57 780
64,467
59 387
Germany}:
do_
52, 177
71, 841
58, 359
57, 291
44, 985
44 858
34 337
62 015
43 963
61 209
91 537
88 641
51, 758
27, 203
Italyt .
do
48, 146
31 457
36 812
38 445
35 711
40 774
33 199
41 212
40 165
45 730
Union of Soviet Socialist Republics (Russia)
thous. of dol. . 27, 116
15,742
4,051
3,032
7,140
10, 384
5,175
9,158
15, 423
8,161
7,479
3,981
United Kingdom
..do
99, 804
95, 232
94, 497
95, 705
62, 704
89, 789
72, 397
94, 513
58, 373
51. 704
60, 127
43. 604
r
Revised, f Revisions prior to Ma> 1947 for public utilities and railroads and minor revisions for other series will be published later.
tThe indexes for exports of agricultural products and the other indicated export series were revised in the May 1948 and the April 1948 issue, respectively, to include civilian supply shipments (see explanation in note marked "§"); revised figures for January or January and February 1947 are given in notes in the indicated issues.
§The publication of practically all series on foreign trade included in the 1942 Supplement but suspended during the war was resumed in May 1946 Survey. Revised 1941 figures for total
exports of U. S. merchandise and total imports are shown on p. 22 of the June 1944 Survey; revised figures for 1942-43 for the totals and revised figures for 1941 and later data through February
1945 for other series will be shown later. Export statistics cover all merchandise shipped from the U. S. customs area, with the exception of shipments to the Armed Forces for their own use,
including commercial trade, lend-lease exports, shipments to U. S. agencies abroad (since June 1945), and relief shipments. Figures published in the March 1948 Survey and earlier issues exclude all shipments to the U. S. Armed Forces and therefore exclude goods that reached foreign civilians through them; data for such shipments of civilian goods, with the exception of shipments of petroleum and petroleum products other than asphalt for road building, are now available beginning January 1947 and are included in figures shown in this issue.
*New series. See note in March 1948 Survey for explanation of series on shipping weight. Commercial exports represent total exports less lend-lease exports and shipments designated
foreign aid and relief"; the latter includes shipments under the U. S. Foreign Aid, Interim Aid, Greek-Turkish Aid, Economic Cooperation Administration, and UNRRA programs and
Army civilian supply shipments (see note marked "§"). Commercial exports therefore include private relief shipments as well as commercial trade and shipments to U. S. Government agencies abroad. Small amounts under the lend lease program, which was practically completed in 1947. are included in total exports but not shown separatelv; separate figures are available,
however, in the March 1948 and earlier issues.
SUEVEY OF CURRENT BUSINESS
July 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-21
1948
1947
May
June
July
August
September
October
November
December
January
February
March
April
148, 416
298, 848
45, 312
46, 154
7,028
21, 913
40, 207
47, 132
46, 493
May
FOREIGN TRADE—Continued
VALXJE§— Continued
Total exports by leading countries— Continued
North and South America:
r
172, 644
170, 520
166, 048
Canada
thous. of dol r 203, 440 187, 004
198, 557
369, 453 305, 552 302, 961 309, 065 288, 100 342, 698
Latin American Republics, total . _ _ do
r
74, 428
57, 778
71, 422
64, 990
53, 687
59, 451
Argentina
do
r
45, 294
50, 050
50,127
68, 532
52, 822
40, 258
Brazil
._ _
.
do...
10, 584
11, 322
8,519
10, 487
12, 387
11, 605
Chile
do
14, 190
17, 374
17, 133
23, 467
17, 934
12,275
Colombia* _ _ _ _ _ _
_
do
33, 249
41,560
32, 740
42, 725
48, 450
35, 073
Cuba
do
44,713
51, 399
42, 702
' 56, 919 46, 881
52, 899
Mexico
__
_
do
31, 364
35, 430
34, 947
39, 095
33, 872
37, 055
Venezuela*
do _
Other regions:
23, 822
26, 364
20, 668
24, 458
21,314
19, 752
Australia (incl. New Guinea)-.
do
5,619
5,205
7,145
7,790
5, 733
5,993
British Malaya
do
19, 678
55, 538
39, 349
12, 085
11,947
China
_ _
do_ _ r 41, 359
5,383
5,284
6,473
6,765
3,935
6,397
Egypt
do
24, 536
55, 815
41, 160
28,166
India and Pakistan
_ _ _ _
do__
31, 732
29, 100
28, 162
56, 224
36, 894
45, 080
32, 755
33, 763
Japant
_ _
do
6,236
9,302
16, 814
8,103
Netherlands Indies
do
5,478
4,831
32, 689
29, 310
30, 094
33, 066
41 , 535
35, 905
Republic of the Philippines
do
36, 789
36, 438
41, 763
34, 698
35, 828
29, 91 1
Union of South Africa
_ _ do_
1,307
'1,489
1,254
1,253
1,175
1,286
Exports of IT. S. merchandise, totalt___inil. of dol__
By economic classes:
102, 604
154,067
145,423
120,736
128,471
140,387
Crude materials:]: _
_
thons. of dol
93, 585
121,746
138,039
103,935
105,188
103,710
Crude foodstuffs^
do
r
174, 693
139, 553
178,408
169,150
148,997
138,100
Manufactured foodstuffs and beveragest__do_
162,282
174,064
170,139
156,973
150,667
156,092
Semimanufactures^
do
r
710,034
727, 752
685, 806
873, 350
652, 283
736, 853
Finished manufactures:!:.
,. .
do
By principal commodities:
r
342, 427
308, 596 r 290, 208
308, 869
320, 381
361, 371
Agricultural products, total $..
do
r
50, 060
5,714
13,165
41, 134
21, 924
18, 227
Cotton unmanufactured t _
_ _ _ do
19,018
25, 849
22,006
26,401
29, 233
25, 975
Fruits, vegetables and preparations? do
r
164, 291
174,264
178,628
189, 833
144,433
146,108
Grains and preparations J
_
_ do_
24, 285
18, 801
25,459
20, 754
34, 805
19,185
Packing house products!
do
864, 409
932, 573
884, 492
945,677
1,127,846
977, 070
Nonagricultural products, total} - _ _ _ do_
r
90, 132
89, 485
114,909
101, 078
98, 426
90, 859
Automobiles, parts and accessories
do
73, 104
76, 604
76, 915
84, 191
73, 921
67, 286
Chemicals and related products^ _ _ _.do_
8,673
7, 453
11,210
11,036
10,079
7,111
Copper and manufactures
do
r
67.311
70, 680
66, 906
79, 158
75, 662
66. 851
Iron and steel and their products ._ _ do
r
194, 465
182, 820
201,331
246, 220
209, 648
175, 768
MachinervJ
do
27,615
28, 474
26,163
29, 358
26, 234
31,008
Agricultural
do
48, 184
43, 500
49, 489
51,624
42, 784
55, 726
Electricalt_
do.
15, 365
13, 769
17,909
15,760
' 20, 903
13,333
Metal working
do
94, 115
86, 326
98, 055
100, 014
82, 378
Other industrial .
__
do_ _ r 124, 442
59, 234
57, 284
63, 976
55, 576
59, 863
53, 232
Petroleum and products}
do
463
450
492
400
474
473
General imports, total
mil. of dol. _
By geographic regions:
24, 219
14, 799
24, 402
24, 242
43, 850
19, 795
Africa
thous. of dol
100, 696
95, 751
88, 412
56, 798
120, 830
77, 879
Asia and Oceania
do
r
69, 341
64, 126
71, 730
58, 436
76, 796
78, 847
Europe
do
96, 638
90, 547
88, 616
108, 485
101, 121
' 88, 086
Northern North America.
__do
93, 836
91,853
71,482
78, 839
77, 409
86, 026
Southern North America _ _ _ _ _ do__
78, 236
84, 927
120,051
100, 701
103, 370
87, 538
South America
do
By leading countries:
Europe:
3,411
3,287
2,807
3,493
3,408
3, 856
France
_. _ _
_
do
196
365
484
635
688
766
Germany
do__
2,074
2,953
2,188
3,040
2,673
4,958
Italy. _ _
_
do
10, 475
9,956
13,994
2,508
7,835
4,466
Union of Soviet Socialist Eepublics. . do.
19, 044
18, 624
15,684
17, 128
18, 426
16, 824
United Kingdom
do
North and South America:
r
92, 644
86, 762
84, 866
85, 341
105,305
97,317
Canada
do
r
164, 893
168, 321
174, 375
158,670
176, 361
183,448
Latin American Republics, total _ _ _ do_
15, 313
10,691
5, 817
18, 839
7,239
11,453
Argentina
do
16,952
31,154
46, 705
26, 763
46, 718
28, 229
Brazil
do
11,160
11, 602
10, 888
14, 120
11, 243
9,076
Chile
do
12, 785
9, 917
14, 477
14, 694
13, 759
23, 320
Colombia*
do
45, 133
53, 706
50, 848
32, 449
44, 586
37, 626
Cuba .
do
21, 582
18, 309
16, 749
17, 466
19, 292
29, 226
Mexico
_
_ _
do.
12, 764
13, 289
14,016
14, 596
15, 657
13, 134
Venezuela*
do
Other regions:
5,341
12,058
7,079
3,674
15, 206
5,781
Australia (incl. New Guinea)
do
23, 662
14,212
23, 951
15, 789
43, 212
16,407
British Malaya
do
3,033
7,556
13, 727
6,634
5,390
11,917
China
do.
1,032
3,961
2, 637
954
1 , 835
13, 393
Egypt__
do
22, 959
13,759
29, 157
24, 811
21, 568
13, 234
India and Pakistan
do
1,119
4,739
1,444
2,479
804
4,049
Japan
do
1,100
3,106
739
3,474
2,584
Netherlands Indies _..
_
do
1,365
14, 178
8,503
9, 055
17,896
12, 593
Republic of the Philippines
do
10, 038
7,114
5,603
5,145
15, 703
8, 207
12, 739
Union of South Africa
do_.
445
470
M56
405
473
Imports for consumption, total _ _ _ mil. of dol
505
By economic classes:
133, 402
142, 935
159, 577
160, 066
112, 946
Crude materials ._ _ _
thous. of dol
149, 331
55, 603
60, 586
55, 129
85, 483
61, 185
Crude foodstuffs
_
do.
91,501
62, 883
55, 678
60, 257
53, 962
49, 863
Manufactured foodstuffs and beverages. _do_.
58, 237
102, 692
112, 063
103, 533
103, 494
Semimanufactures
_
do
103, 634
110,476
Finished manufactures. __
do.
89, 899
76, 740
91, 088
72, 829
81, 839
95, 212
By principal commodities:
r
168, 439
192, 013
222, 635
233, 131
201, 071
Agricultural, total
_
do
227 057
34, 856
25, 064
32, 020
57, 172
31, 727
Coffee—.
do.
59, 818
r
6,934
4,428
8,993
7, 271
Hides and skins
do
6,152
4 367
17,113
14, 924
23, 263
30, 281
16, 190
47, 837
Rubber, crude, including guayule
do
701
139
3,267
6
57
Silk, unmanufactured
do__
555
Sugar
do
42, 595
34,311
26, 632
37, 386
42, 811
29, 559
15, 024
12, 317
17,762
15,529
20, 893
16, 323
Wool and mohair, unmanufactured
do
r
Revised.
§See note marked "§" on p. S-20.
*New series. Data beginning March 1945 are in the May 1946 Surve 7', earlier data will be published later,
{Revised in the April 1948 survey to include Army civilian supply s lipments (see note marked "§" on p. S-20).
176, 158
313, 490
58, 026
45, 525
6,818
18, 297
51, 383
50, 672
34, 515
146 008
345, 225
59, 433
56, 221
9,873
20, 579
45, 933
60, 267
40, 233
136 736
280, 734
51 065
45 836
8,028
19, 099
33 789
44, 017
35 340
139 200
270,615
48 249
45, 684
5 909
20, 438
37 017
36, 793
38 397
148,768
306, 287
48, 879
63, 144
5,662
20, 694
39, 325
45, 655
40, 807
19, 869
5, 742
15, 694
4,718
26, 076
38, 660
8,728
40, 142
34,219
1,173
21, 373
6,925
18, 761
3,514
32, 133
46, 771
5 856
40, 630
32, 754
1,164
14, 203
6 733
17, 949
2 439
r
2 9 354
30, 239
6 907
42 632
38, 273
1,081
9,706
7 962
21,891
3 058
r
18, 006
37, 888
5 536
43, 584
36, 698
1,076
9,201
6,888
23,486
2,862
' 18, 463
24, 108
6 265
41, 540
36, 626
1,131
6,446
11, 177
31, 364
3, 455
32, 762
11, 797
8,308
41, 851
49, 593
r
1, 113
122,910
102,186
126, 382
145,412
676, 453
125, 494
118 375
100,350
135,802
683, 446
112
99
118
130
620
209
125
126
324
724
108, 631
118, 742
100, 983
120, 843
626, 489
108, 369
96 744
132, 442
129 986
663, 026
86, 371
89, 745
128, 697
122, 428
684, 134
283,075
24, 525
?7, 074
135,433
20, 588
888, 485
r
83, 163
69, 481
12, 589
72, 224
204, 882
27, 556
49, 123
15,678
99, 539
51,324
455
290, 058
37, 467
22, 381
' 137, 566
T
13, 703
873, 489
T
86, 321
70, 799
11,487
75, 473
215, 553
29, 373
47, 834
16,615
109, 028
52, 331
603
281 759
42 633
20, 512
147 400
19 383
798 786
76 497
63 020
11 184
67 058
201 539
28 606
42 821
13 352
103 673
47 277
546
281 , 195
33, 620
28,424
141, 755
14,429
794, 480
72, 157
66, 275
10, 384
61,026
198, 452
28, 566
46,159
14, 990
96, 006
44, 164
582
295, 980
45, 886
35, 063
127, 640
21, 925
834, 587
83,819
72, 495
9,188
63, 708
214, 174
33, 003
48, 987
15, 980
104, 173
49, 441
666
274, 601
31, 282
27, 754
132, 877
9,235
836, 775
90, 012
70, 935
13, 982
57, 821
216, 286
37, 824
50, 128
14, 437
101, 772
58, 845
527
26, 179
92, 762
66, 975
94, 319
71,417
103, 247
49, 734
120,017
78, 771
121, 309
93, 376
137, 341
523
149
149
839
230
901
45, 513
122, 002
85,649
101, 552
93, 771
133, 529
44, 454
139, 029
98, 967
128,911
114, 962
139, 898
29, 279
111, 795
80, 747
114,511
88, 233
102, 617
4,515
971
3,997
5,101
15, 470
3,053
1,078
6,403
5,027
18, 563
4 863
1 208
6 036
5 547
21 863
4,642
2,705
5,721
1,953
20, 184
6,485
1,734
8,414
7,045
25, 578
4,854
1,358
9,135
6,766
23, 873
91, 802
165, 653
12, 724
39, 553
10, 483
17 615
36, 887
15, 732
12, 854
117 295
220, 085
17 212
48 628
14 080
23 761
42 708
23, 832
18 552
467
286
674
906
67K
794
098
573
822
99, 895
212, 731
17, 658
44, 165
17, 142
18 135
34 681
25, 320
19, 986
126 734
237, 254
19 723
40 692
17, 874
17 442
47 195
27, 204
26 880
112, 953
176, 888
12, 464
30 852
15, 697
8 694
33 763
24, 216
23, 344
9,357
15, 804
8,434
106
18, 784
2, 524
1,572
15, 130
15, 003
449
11,533
24 814
14, 166
195
21 270
4 442
2,345
20, 641
17, 680
562
4 835
32 504
6 478
1 797
r 22 915
2 958
2 717
21 883
9 608
557
11,133
20, 304
12, 299
2,486
27, 383
4 385
3,255
18, 912
11,836
574
24, 393
23 004
10, 594
1 980
T 22 715
4 643
4 906
23^ 990
12 983
639
7,281
16 684
7,775
464
35 507
4 019
3,511
16, 942
9,440
525
9
6
124
79
105
60
149
101
200
Q
l
42
12
07
12
19
18
r
134, 102
83, 337
51, 820
100, 502
79, 271
r
156 474
125, 748
60, 865
131 576
87, 735
197 738
108* 032
34, 902
121 347
94, 770
177 453
115, 914
55, 917
133, 772
90, 619
195 293
121 983
70, 129
140 922
110, 164
153 039
84, 758
56, 028
121, 298
109, 567
204, 691
49, 349
8 696
18, 006
276
28, 178
15, 702
271 896
69 729
12 390
25, 739
1,098
38 368
11, 107
272 553
68, 656
20 793
31, 827
143
6,090
39, 259
277 348
62 324
12 592
22, 459
276
30 796
30, 597
310 208
63 435
10 587
29, 639
1 863
39 813
34! 803
224 054
39 531
8 110
16, 405
828
25 525
24, 612
1,092
549
544
SURVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
July 1948
1948
1947
May
June
July
August
September
October
November
December
January
February
March
April
May
FOREIGN TRADE—Continued
VALUE§—Continued
Imports for consumption— Continued.
By principal commodities:
Nonagricultural, total _
thous. of dol__ ' 222, 702
9,187
Furs and manufactures
do_ „_
35, 789
Nonferrous ores and metals, total
do
Copper, including ore and manufactures:
16, 571
thous. of dol._
853
Tin, including ore
_ . _ _ _ do__.•• 20, 856
Paper base stocks
do
28, 667
Newsprint
do „_
21, 879
Petroleum and products
_ _
do
246, 917
14, 450
44, 312
252, 508
11,947
40, 988
236, 232
5,576
45, 133
272, 680
18, 756
45, 121
277, 735
11,566
42, 116
243, 881
9,408
35, 753
290, 469
12, 001
51, 618
284, 201
16, 791
38, 444
296, 326
18 355
47, 138
328, 283
11, 996
49, 646
300, 636
9,600
44, 653
21, 818
1,272
29,958
30, 423
18, 543
15, 626
7,435
30, 773
30, 988
20, 475
17, 369
9,109
36, 557
27, 747
19, 284
16,847
13, 913
25, 191
32, 601
19, 708
18, 229
7,550
27, 055
31,933
20, 191
15, 110
5,224
25, 396
28, 267
2], 899
21, 091
9,927
27, 354
34, 721
28, 743
12, 425
9,335
25, 305
29, 375
29, 398
19, 129
5 692
30, 978
27, 483
30, 371
19, 027
7,613
28, 873
37, 367
37, 277
15, 376
8,452
22, 347
32, 801
32, 341
25, 710
24, 844
7,446
1,017
473, 950
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Airlines
Operations on scheduled air lines:!
Miles flown revenue
thous. of miles
Express and freight carried
thous of Ib
Express and freight ton-miles flown__ thousands. _
Passengers carried (revenue)
_
do
Passenger -miles flown (revenue)
do
26, 994
15, 610
4,415
1,151
556, 589
26, 866
15, 722
4,295
1,065
538, 377
28, 572
15, 269
4,233
1,100
533, 706
28, 883
16, 973
4,749
1,253
600, 262
27, 515
19, 949
5,837
1,235
599, 683
28, 373
28, 414
8,203
1,195
569, 885
24, 280
23, 149
6,690
24, 599
28, 223
7,993
23, 624
23, 508
6,850
20, 978
21 163
6,199
24, 849
25, 585
7,817
427, 686
432, 548
393, 637
349, 934
431, 156
904
853
752
694
881
Express Operations
24, 398
24, 406
24, 429
25, 082
27, 790
25, 318
26, 575
32, 075
26, 668
Operating revenue
thous of dol
26, 183
26 355
25 910
5
df>2
47
64
119
75
47
131
17
63
Operating income
do
78
73
Local Transit Lines
8.0774
8. 1134
8. 1051
8. 0580
8. 3073
8. 3406
8. 1854
8. 5816
8. 4043
8. 2104
Fares, average, cash rate
cents
8. 4652
8 5234
8. 6093
r
r
r
r
r
r
' 1, 429
'1,451
' 1, 591 ' 1, 464
' 1, 478
1, 472
1, 491
' 1, 584
Passengers carried f _ _ _
_ millions
1, 438
1, 537
1, 570
1, 581
1,487
111,300
112, 100
111,400
115, 600
119, 500
121, 200
113, 300
Operating revenues!thous. of dol_. 120, 100
127,000
121, 800
120, 100
111, 100
Class I Steam Railways
Freight carloadings (A. A. R.):<8>
3,276
3,543
2 954
4,376
4,424
4,560
2,984
3,164
3,600
Total cars
thousands
3 824
3 808
3 078
4 404
495
708
922
934
886
Coal
_
do
714
713
408
916
758
992
730
510
54
49
72
72
74
70
60
54
Coke
do
40
75
60
60
53
178
188
233
248
222
191
173
Forest products
_
do
168
205
166
224
181
191
200
275
213
245
317
Grains and grain products
do
153
177
210
225
144
216
141
200
49
62
46
66
93
Livestock
_ _ do
74
50
49
55
35
34
91
63
464
429
593
432
588
577
447
467
Merchandise, 1. c. 1
do
499
491
544
461
434
324
343
369
238
407
66
299
Ore. _ _
do
204
63
274
64
56
395
1,555
1,992
1,461
1,909
2,030
1,592
Miscellaneous
do
1,495
1,787
1,510
1,728
1,454
1,913
1 509
Freight carloadings (Federal Reserve indexes):
142
140
144
148
139
150
153
128
133
156
129
Combined index, unadjusted
1935-39=100
122
143
115
141
155
160
153
146
105
155
Coal.
do
156
155
150
98
163
165
170
183
201
195
177
134
192
178
188
Coke
_
do
163
188
183
153
151
154
141
141
147
161
160
137
155
135
Forest products
do
146
145
202
143
121
130
142
153
175
132
108
152
Grains and grain products
__ _ .
do
101
100
113
87
87
94
92
133
94
139
87
81
161
Livestock
do
61
62
86
73
71
76
73
71
77
77
70
78
65
69
Merchandise, 1. c. 1
_ _
_ do
73
69
286
311
284
267
60
163
272
212
57
49
45
235
Ore
do
"277
145
146
146
158
157
150
147
143
139
Miscellaneous
. _ do
163
137
142
144
134
137
142
149
147
142
143
130
145
139
146
141
130
Combined index, adjusted!-..
do
115
141
153
146
155
160
155
155
156
Coalt
do
105
98
150
163
173
184
191
195
170
185
180
137
183
192
Cokef
do
162
178
'85
152
145
152
148
150
141
158
149
153
147
140
Forest products_ _ _ _ _
do
146
139
140
162
168
145
138
138
137
132
152
123
103
109
Grains and grain products!
do
129
92
107
107
105
105
104
96
84
104
105
Livestockf
do
79
76
96
74
71
74
75
73
73
76
75
68
72
70
Merchandise, 1. c. 1 .
do
71
69
184
194
192
184
163
190
181
163
180
195
••213
195
213
Oref_
do
142
151
H5
149
145
143
156
145
152
149
Miscellaneous!
do
150
146
143
Freight-car surplus and shortage, daily average:
2,391
11, 333
1,322
30, 651
2,505
5,243
5,886
104, 170
12,013
942
35,244
6, 657
14, 515
Car surplus!
- -number
5,904
712
75
175
613
2,029
238
2,585
3,600
132
3,459
Box cars
do
1,817
5,824
25, 874
1,390
172
10
0
127
27
983
0
95, 106
184
Coal cars
do_ _
27, 938
109
14, 969
15, 697
12, 146
34, 443
27, 865
31,766
14, 779
8,747
40, 103
13, 030
7,783
2,330
Car shortage*
_ _ _
do
2,656
9,592
5,127
16, 631
17. 165
4,292
16, 336
5,643
20, 819
4,922
2,888
Box cars
do
2,974
1,079
227
9,357
6,072
15, 165
14, 566
5,331
10, 247
10, 277
15, 275
Coal cars
do
1,097
5,471
4,380
7,588
2,320
Financial operations (unadjusted):
705, 361
755, 324
745, 258
' 725, 388 696, 909
807, 428
794, 165
726, 550
776, 616
715, 891
750, 735
Operating revenues, total
thous. of dol
728, 969
796, 403
r
557, 881
625, 241
593, 089
596, 592
627, 816
591, 923 556, 889
664, 648
589, 894
Freight
do_
642, 346
601, 376
613, 361
666, 984
r
93, 642
84, 787
94, 001
89, 461
73, 661
80, 369
77, 350
75, 009
74, 398
72, 065
80, 897
Passenger
do
69, 490
71 786
T
555, 362
550, 057
595, 315
565,606
631, 150
588, 591
557, 618
611, 872
Operating expenses
do
615, 856
618, 759
585, 625
586, 356
616, 231
Tax accruals, joint facility and equipment rents r
89, 041
86, 651
94, 432
89, 979
98, 827
90, 951
96, 255
105, 860
93, 582
97, 132
90, 110
thous. of doL.
90,239
89,993
60,958
60, 201
47, 979
80, 825
' 76, 818
65, 577
Net railway operating income
do
80, 023
76, 433
41, 297
60, 724
39, 425
53, 104
90, 178
37, 025
38, 402
51, 343
46, 360
43, 358
20, 147
60, 212
48, 904
Net incomej:
do
18, 707
35, 447
26, 916
17, 798
Financial operations, adjusted:!
682. 7
716.3
719.4
731.0
698.0
739.1
Operating revenues, total—
mil. of dol__
805.7
786.0
760.8
781.1
766.6
726.1
543.5
593.4
565.3
581.2
636.9
653.4
583.4
Freight
do
623 3
624.1
611.7
644 2
593 6
85.9
81.9
78.2
83.8
Passenger
do_
80.7
87.8
77.0
84.7
76.7
75.5
72 1
77 4
634.5
649.2
633.2
680.5
655.4
Railway expenses
do
722.5
707.6
696.3
705 4
707 0
684 4
710 5
48.2
64.0
81.8
64.8
35.8
Net railway operating income. __ _ _ _ do
83.2
78.4
42.8
55 4
70 6
59.6
41 7
r
32.1
17.6
48.9
31.0
Net income
do
46.9
3.6
9.4
r22 2
38 7
49.8
27 8
8 5
Operating results:
r
54, 664
56, 646
60, 014
61, 650
Freight carried 1 mile
mil. of tons59, 406
57, 332
64, 592
59, 656
55 125
52 466
53 579
49 902
60 250
1.029
Revenue per ton-mile
__cents__
1.094
1.043
1.055
1.114
1.057
1.089
1.159
1 300
1 284
1.197
1 176
Passengers carried 1 mile__
millions..
4,413
4,096
3,729
4,481
3,855
3,342
3,450
3,948
3.271
3,654
3.198
3.043
T
Revised. * Deficit. ® Data for May, August, and November 1947 and January and May 1948 are for 5 weeks; other months, 4 weeks.
§ Data continue series published in the 1942 Supplement; data for December 1941-February 1945 will be pulished later. % Revised data for April 1947, $35,692,000.
*New series. For comparable data beginning 1943 for total car shortage and surplus and an explanation of a change in the latter series, see p. S-21 of December 1944 Survey.
! Revised series. See note in the July 1947 Survey for explanation of revisions in the data for air lines; revised data prior to May 1946 will be published later. Data for local transit lines
revenues beginning in the April 1944 Survey and passengers carried beginning in the May 1945 issue are estimated totals for all transit lines; revised data beginning 1936 will be published later.
Revisions for passengers carried not shown above: January-March 1946-^-1,613; 1,483; 1,674; January-April 1947—1,609; 1,469; 1,595; 1,575. See note marked "*" regarding car surpluses. Revisions for 1939-July 1942 for the indicated indexes of carloadings and revisions for January 1937-February 1943 for the adjusted series for financial operations are available on request.
SUEVEY OF CURKENT BUSINESS
July 1948
Unless other-wise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-23
1948
1947
May
June
July
August
September
October
November
December
January
February
March
April
May
TRANSPORTATION AND COMMUNICATIONS—Continued
TR AN SPORTATION —Continued
Waterway Traffic
Clearances, vessels in foreign trade: §
Total, U. S. ports
_ _ _ thous. net tons__
Foreign
do
United States
do
Travel
Hotels:
Average sale per occupied room
dollars.
Rooms occupied
percent of total..
Restaurant sales index, avg. same mo. 1929 =1 00. .
Foreign travel:
TJ S citizens, arrivals
_ _ _ .number _ _
U S citi/ens departures
do
Emigrants
do
Immigrants
do —
Passports issued
do
National parks visitors
thousandsPullman Co.:
Revenue passenger-miles
.millions. _
Passenger revenues
thous. of dol__
9,646
4,367
5,278
8,725
3,980
4,746
8,953
3,945
5,008
9,991
4,697
5,294
9,196
4,272
4,924
9,153
4,451
4,703
7,905
3,633
4,273
6,535
2,820
3,715
6,400
2,774
3,625
6,446
2,815
3,631
7,002
2.998
4,005
4.46
92
244
4.75
93
248
4.70
87
225
5.16
93
246
5.07
92
238
5.14
93
226
5.28
87
234
4.91
78
202
5.06
86
227
5.03
88
211
4.81
89
206
5.35
89
245
4.91
89
246
35, 873
45, 258
1,833
14, 032
20, 962
442
39, 987
45, 320
1,804
14, 733
21, 831
902
48, 147
« 48, 137
56, 855
39, 577
60, 324
« 34, 112
46, 492
« 32, 168
38, 380
36, 317
46, 695
« 42, 469
47, 587
« 44, 295
41, 823
« 40, 260
37, 517
15, 644
19, 611
1,467
13, 433
15, 277
1,502
13, 853
12, 182
652
14, 880
13, 402
308
15, 618
10, 456
131
14, 879
11, 786
89
14, 833
102
17, 915
120
26, 883
139
25, 110
173
27, 304
378
1,061
8,018
1,215
9,193
1,139
8,558
1,166
8,712
1,104
8,374
1,028
8,924
1,000
8,737
1,020
9,762
1,202
10, 610
1,048
9,328
1,045
9,364
975
8,676
184, 948
106,818
61, 629
154, 400
11, 497
30, 057
205, 193
113, 371
75, 477
165, 551
17, 914
30, 292
209, 134
114, 567
77, 993
175, 553
13, 239
30, 553
210, 070
114. 836
78, 063
172, 006
16, 305
30, 794
213, 422
118, 134
77, 929
175, 079
16, 890
31,058
222, 090
121, 969
82, 528
179, 941
19, 202
31, 421
217, 513
121,596
78, 132
172, 927
20, 818
31, 721
230, 620
127, 132
85, 189
184, 807
22, 010
32, 094
229, 797
129, 809
81, 821
182, 116
21, 611
32, 385
225, 584
128, 440
78, 490
174, 364
23, 956
32, 628
237, 939
132, 124
87, 003
187, 252
23, 800
32, 934
20, 740
19, 399
18, 981
17, 662
18, 449
17,019
18, 122
16, 786
18, 366
17, 029
18, 725
17, 366
16, 580
15, 266
18, 734
17, 190
16, 965
15, 813
15, 712
14, 690
17, 940
16, 717
611
1,341
16, 387
2,140
1,062
1,637
574
1,320
15, 347
1,541
1,335
1,617
599
1,430
16, 010
291
41
1,609
639
1,336
15, 366
682
332
1,742
659
1,337
15, 376
928
700
1,759
703
1,359
15, 500
1,117
627
1,889
616
1,315
15, 146
*6S6
d
474
1,695
762
1,544
15, 585
1,216
d
7, 486
2,008
622
1,151
15, 097
*252
4575
1,854
607
1,022
13, 827
663
1,222
15, 103
799
, 3, 545
1,817
a
a
36, 074
25, 099
0
37, 411
31, 743
0
COMMUNICATIONS
Telephone carriers: 1
Operating revenues
.
thous. of dol_.
Station revenues
do ._
Tolls message
- .
do __
Operatin0" expenses
do
Net operating income
_.
do. _
Phones in service, end of month
.thousands..
Telegraph and cable carriers :%
Operating revenues, total
-.
.thous. of dol__
Telegraph carriers, total
- do
Western Union Telegraph Co., revenues from
cable operations
thous. of dol__
Cable carriers
do
Operating expenses
. . . __do
Net operating revenues
do
Net income trans, to earned surplus . . . do. __
Radiotelegraph carriers, operating revenues. .do
d%05
A 586
1,760
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:*
Ammonia, synthetic anhydrous (commercial) cT
short tons__
97, 107
91, 681 r 96, 768 r 93, 461 ' 88, 120 r 95, 826 ' 92, 185 r 97, 773
92, 640
95, 405
82, 408
100, 142
90, 550
r
5,492
8, 859 r 10, 645
Calcium arsenate (commercial)
thous. of lb_5,064
3,107
2,272
2,190
2,709
2, 003
3,910
3, 483
3,379
2,433
47 177
56, 286
59 009
48, 136
53, 388
50, 827
Calcium carbide (100% CaC2)
short tons
48 336
55 343
48 462
57 649
58 091
61 489
55 006
Carbon dioxide, liquid, gas and solid <?
96, 487
110, 228
96, 700
thous. of lb_.
107, 712
102, 410 r 80, 016
61, 368
57, 996
57, 125
83, 260
59, 304
70, 590
96, 217
Chlorine*
. __
_ _ short tons f 123, 736 'r 124, 067 ' 121, 336 r 125, 992 r r124 178 r 127 245 r 124 634 r 128 797
123 319
116 143
126 992
132 668
130 926
'T36, 966 r33, 196 r 33, 654
Hydrochloric acid (100% HC1) •
do
' 34, 733 33, 541 r 36, 461 r 37, 609 r 38 149
39? 089
38 349
36 306
36 579
33' 940
(i)
(i)
(i)
447
Lead arsenate
thous of Ib r 3, 694 r i , 436
3 229
3 697
3 127
3 814
3 654
0)
(0
r 99 318 r 101 558 r 104 096
101,656
' 95, 921 r 95, 154 r 94 564
97, 149
Nitric acid (100% HNOs)cf
short tons
103 834
94 904
101 041
100 546
86 490
1,188
1,066
1,089
1,105
Oxygen
mil. cu ft
1 093
1 212
1 251
1 314
1 271
1 2S8
1 361 T 1 362
1 370
82, 372
86, 920
89, 492
88, 083
Phosphoric acid (50% HjPOi)
short tons__
87, 249
99,213
89, 353
95, 331
90, 412
105, 097
99, 045
97, 510
90, 601
Soda ash, ammonia-soda process (98-100% Naz
396, 282
374, 083
377, 976
363, 890
359, 004
COs)
short tons
395, 609
379 821
389 656
360 437
383 481
357 752
404 525
360 110
7,474
7 983
7,331
7,426
7,219
7 962
7 106
Sodium bichromate and chromate
do
7,350
7 527
8 413
7 664
7 971
8 184
r
183, 449 r 181, 200 ' 181, 793 r 181, 720 r 177, 012 T 186, 254 r 181 ' 298 r 182 806
Sodium hydroxide (100% NaOH) •
. _ do
182 778
173 693
186 300
198 658
186 265
Sodium silicate, soluble silicate glass (anhyr
r
r
39, 726
32, 814 ' 37, 126
35, 472 «• 36, 329
43, 724
45, 233
40 061
37 529
drous)^
- short tons
44 090
54 702 r 38 773
33 588
Sodium sulfate, Glauber's salt and crude salt r
74, 502 '69,432
64, 996
65, 942
65, 414
70, 293
cake •
short tons
73, 846
64, 182
71, 245
70, 456
69 688
70 928
73 510
Sulphuric acid (100% H2SO4):
Price, wholesale, 66°, tanks, at works§
16.50
16.50
16.50
16.50
16.50
16.13
dol. per short ton__ r 16.50
15. 00
16.50
15.00
15.00
15.00
15.00
892, 691 ' 856, 129 r 851, 598 ' 864, 092 r 856, 783 r 897, 297 r 884 365 r 967 235
Production •
_
short tons
932 933
956 957 r 904 562
893 440
931 788
Organic chemicals:
Acetic acid (syn. and natural), production*
33, 876
35, 897
31, 729
35, 365
thous. of lb_.
28, 606
32, 624' ' 34, 605
34, 189
29, 560
30, 439
31, 163
33, 244
54, 249
Acetic anhydride, production*.
do _
41, 433
53, 627
55 347
53, 478
50, 308
58 184
62 700
55 071
57 507
64 849
60 103
1,053
1,155
998
Acetyl salicylic acid (aspirin), production*. do
1,126
1,083
1,092
615
979
1,016
1,054
985
1,061
Alcohol, denatured :§
14, 095
13, 687
15, 061
Consumption (withdrawals) _thous. of wine gal__
16, 426
18, 718
12, 436
21, 820
19, 026
16, 937
13, 053
13, 208
11, 250
14, 207
13, 926
14, 150
Production
do
16 469
14 605
18 610
12 576
21 744
18 620
17 710
13 312
11 051
13 016
12 964
1,531
1,981
1,529
Stocks
do
1,560
1 447
1 719
943
1 354
1 850
1 653
1 712
1 245
1 613
Alcohol, ethyl: §
27, 982
23, 793
26, 833
29,226
Production _
thous. of proof gal
20 951
26, 621
29, 906
39 012
17 402
28 472
29 266
27 413
29 852
29, 258
27, 016
27, 764
93 886
Stocks total
do
28, 637
22 373
24 409
26 634
22 787
21 248
29 799
34 874
31 601
27, 452
25, 699
25, 323
In industrial alcohol bonded warehouses, .do
26, 928
22, 894
25, 938
21, 783
22, 654
22, 170
20, 738
31, 032
29, 404
34, 353
1,694
In denaturing plants.
do
2,065
1,709
1,807
1,514
691
697
618
1 232
510
569
395
521
25, 743
26, 065
27, 359
38, 526
Withdrawn for denaturing
do
30, 303
33, 981
34, 101
32, 839
23, 103
21, 151
24, 899
23, 213
25, 806
2,170
2,768
Withdrawn tax -paid
_ _ _ _ _
do
2,696
2,377
4,275
3,201
4,090
3 237
2,580
4,630
2,678
2 846
4 073
r
13, 454
12, 573
Creosote oil, production*
-thous. of gal_.
12, 779
11, 581
11, 988
13, 407
12, 835
13, 909
14, 263
12, 884
12, 179
11, 925
2,329
2,196
2,357
1,697
Cresylic acid, refined, production*. _ thous. of lb_.
1,969
1,909
2,403
2,056
1,617
2,094
1, 580
2,287
5,822
5,899
6,088
6,785
Ethyl acetate (85%) production*
do
6,826
7,132
5,261
8,651
7,181
5,712
5,850
5,422
r
d
Revised.
Deficit.
IData relate to continental United States.
i Not available for publication.
« Excludes departures via Canadian and Mexican borders; these usually average from 500-600 monthly.
{Compiled on a new basis beginning 1943; see April 1944 Survey for 1943 data and reference to revised 1942 data. Total operating revenues of telegraph carriers includes and operating revenue
of cable carriers excludes cable operations of Western Union; the latter data were revised in May 1947 Survey (see note in that issue).
d"Data for carbon dioxide and soaium silicate were revised in the March and the September 1945 Survey, respectively (see notes in those issues) See note in February 1947 Survey with re-,
gard to additional plants included in the data for nitric acid and ammonia; 1947 revisions not shown above: Ammonia—January, 89,762; nitiric acid, January-April, 100,308; 95,906; 103,113; 101,317.
§The indicated, series, except series for alcohol stocks in denaturing plants (available only beginning 1942), continue data in the 1942 Supplement; unpublished data beginning 1941 or 1942
through February 1945 for ethyl alcohol and vessel clearances and for June 1944-July 1946 for prices of sulfuric acid will be shown later.
*New series. See note marked "*" on p. S-23 of the September 1947 Survey for reference to data prior to 1943 for a number of the chemical series and information regarding revisions that
have not been published.
• January-April 1947 revisions not shown above: Chlorine—112,041; 103,348; 119,057; 112,434; hydrochloric—35,158; 33,979; 37,007; 34,652; sulfuric—882,990; 830,824; 920,816; 870,121; sodium
hydroxide—173,614; 157,149; 179,323; 168,624; sodium sulfate—66,304; 63,244; 70,092; 69,984.
SUKVEY OF CURRENT BUSINESS
S-24
July 1948
1948
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
May
June
July
August
September
October
November
December
January
February
March
April
May
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS—Continued
Organic chemicals— Continued.
Glycerin, refined (100% basis):*
High gravity and yellow distilled:
Consumption
thous. of lb_Production
_ . _ _ _.do
Stocks
do
Chemically pure:
Consumption
do _
Production
do
Stocks
do
Methancl, production :d*
Crude (80%)
thous. of gal__
Svnthetic (100%)
do
Phthalic anhydride, production*
thous. of lb__
7,428
6,606
19, 151
6,617
6,965
19,843
6,509
5,483
18,848
6,761
7,250
18, 869
7,032
8,812
19, 146
8,146
8,292
17,665
7,633
7,560
16, 061
7,468
8,753
17, 335
7,426
8,701
17, 396
7,098
7,947
17,974
7,272
7,699
18, 197
7,456
6,715
16, 744
7,379
6,383
15, 221
5,957
9,181
20,789
5,871
7,980
20,723
5,650
6,200
20, 171
6, 358
7,998
20, 396
6,754
7,957
19, 493
7,770
9,357
18, 289
7,067
8,782
17, 709
7,463
9,202
17, 278
8,049
10, 437
18, 306
7,376
10,294
19, 013
7,845
11, 350
21, 866
7,116
8,293
21,923
6,776
7,704
21,384
286
6,830
10, 526
221
6,551
11,764
••236
6,779
12, 871
••246
6,708
12,396
••243
6,564
11,800
••283
7,065
12, 529
286
6,832
12, 373
321
7,199
12, 893
274
8,806
12, 433
248
9,161
12,048
255
10, 944
14, 082
'266
10, 489
13,072
254
495
829
492
657
409
1,149
1,454
385
609
332
Consumption, total* ._ .
thous. of short tons. _
81
130
182
181
130
168
176
72
257
103
Midwest States*
do
362
415
476
648
209
278
505
981
260
1,196
Southern States©
_
do_ __
204, 081
243, 340
239, 807
186, 295
284, 741
272, 871
264, 774
186, 758
305, 807
136,475
Exports total§
long tons
54, 664
81, 799
65, 241
86, 578
56, 924
73, 674
12, 774
56, 507
85, 748
79, 399
Nitrogen ous§
do
114,082
162, 341
168, 974
87, 772
215, 726
186,987
191,539
103, 754
91, 288
208, 888
Phosphate materials§
do
874
1,659
447
1,695
617
1,661
636
8.926
2,718
10, 303
Prepared fertilizers§
do
91, 159
92, 214
76, 591
76, 836
93, 649
82, 474
102; 966
138, 060
141, 630
117, 760
Import5? total §
do
69, 725
67, 166
73,015
61, 056
85, 337
75,912
108, 988
107, 484
92, 765
120, 766
Nitrosrenous total§
do
22, 316
16, 959
30, 623
25, 287
41,737
41, 623
88, 834
80, 555
60, 787
80, 786
Nitrate of soda§
do
3,204
3,777
4,497
12,617
4,330
38
284
4,482
4,696
9,329
Phosphates!
- - do
8,173
0
6,838
0
0
2,232
4,667
2, 213
11,250
0
Potash §
do
Price, wtiofesale, nitrate of soda, crude, f. o. b. cars,
2.275
2.306
2.275
2.275
2.195
2.075
2.400
2.075
2.075
2.400
port warehouses©
dol. per 100 Ib
112, 214
75, 764
77, 680
83,848
97, 333
73, 708
83, 121
73, 802
97, 029
Potash deliveries
short tons
Superphosphate (bulk):f
r
' 894, 772 »• 804, 855 ' 808, 917 ' 804, 355 ' 822, 448 893, 613 ' 881, 041 ' 973, 554
883, 852
926, 323
Production
do
866, 919 ' 852, 303 ' 863, 407 r 950, 556 ' 1,039,952 1,105,813 '1,081,544
903, 380
855, 352
681,235
Stocks end of month
_ _ _ ..... do
1,478
188
1,291
284, 548
151, 301
114, 529
1,599
131, 989
113, 216
70, 325
389
7,355
1,114
202
912
247, 182
61, 097
176, 937
1,484
162, 579
130, 900
85, 380
337
14,404
657
118
539
2.400
2,400
FERTILIZERS
2.400
r
1,033,294
994,464
r
r
974, 420
978, 433
965, 480 1, 116.. 883
NAVAL STORES
Rosin (gum and wood):
Price, gum, wholesale "H" (Sav.), bulk
7.10
8.87
8.46
8.91
6.76
8.55
7.34
7.19
6.83
7.58
7.00
8.83
dol. per 100 lb_.
6.80
508, 543
572, 233
382, 720
527, 335
Production*
drums (520 Ib )
339 269
284, 840
277, 980
243, 086
Stocks*
do
Turpentine (gum and wood) :
.62
.64
.64
.62
.62
.64
.63
.59
.61
.59
.59
.63
.68
Price, gum, wholesale (Savannah)t--dol. per gal_.
159, 665
189, 689
115, 460
176, 089
Production*
bbl (50 gal )
194,111
210, 116
195, 350
147, 693
Stocks*
do
MISCELLANEOUS
55,787
59,434
51,940
52, 365
53, 275
47, 134
48,848
49,019
51,048
51,296
47,717
49,145
61,361
Explosives (industrial), shipments
thous. of lb_.
Gelatin:§
3,116
4,017
4,415
3,393
4,290
4,659
3,159
3,847
4,117
4,009
4,336
4,639
4,504
Production, total* __ _
_ do _
3,104
2,762
2,420
3,077
3,277
3,425
3,028
2,883
3,034
3,222
2,313
2,901
Edible§
do
3,301
5,961
5,431
5,739
6,427
6,042
6,338
6,374
6,488
6,889
6,558
7,000
6,387
7,268
Stocks, total*
..-do
2,356
2,714
2,400
3,300
3,464
3,144
2,430
3, 059
3,392
2,453
3,034
2,787
3,713
Edible§
.
-.-do
Sulfur:*
425, 612
406, 964
389, 014
405, 205
391,396
382, 674
392, 991
402, 832
359, 313
388, 332
391, 214
377,218
409, 530
Production _. ___
long tons.
3, 495, Oil 3, 456, 082 3, 438, 367 3, 444, 607 3, 449, 732 3, 457, 899 3, 435, 298 3,371,034 3,373,422 3, 348, 462 3, 368, 064 3,338,345 3, 297, 705
Stocks
.
do
Glue, animal:*
12,003
14, 666
11,424
13, 185
13, 636
11, 795
12,843
12,158
13,770
12, 165
13, 131
14,229
Production
. .
thous. of lb_11, 503
7,882
8,392
12, 444
7,749
9,509
8,757
8,643
' 12, 062 12,964
10, 957
8,950
10, 828
10,605
Stocks
.
_.
do. _
Bone black:*
1,085
1,085
1,102
1,065
848
1,048
847
519
1,010
1,040
1,017
1,033
Production
_ _ _
_ _ _ _ _ short tons
520
1,079
1,375
1,254
1,021
979
2,004
1,180
1,030
1,008
1,474
1,877
1,696
Stocks
do
1,650
OIL SEEDS, OILS, FATS AND
BYPRODUCTS
Animal, includingfishoil:
Animal fats*
134,765
134, 391
126, 345
127, 228
155,630
99, 329
105, 301
116, 571 •• 107, 826
118, 795
135, 260
Consumption, factory
thous. of lb__ 105, 542
116, 137
189, 544
226, 266
279, 792
238, 814
208, 609
255, 713
307, 560
262, 265
222, 845 •• 222, 070
302, 208
258, 924
Production
. _._
do
237, 063
250, 588
322,045
320, 801
258, 425
444, 602
428, 604
400, 170
Stocks, end of month
do
389, 074
369, 989 ' 396, 045
369, 460
350, 058
412, 169
Greases :t
49, 913
55, 182
43, 658
50, 604
54, 207
37, 746
41, 226
43, 939
56, 212 r 51, 525
53, 195
55, 351
Consumption, factory
do
46,433
40, 154
50, 039
44, 434
47, 402
50, 586
46,611
45, 153 ' 45, 543 47, 147
52, 331
48, 260
48. 613
46, 815
Production
__do_ _
98, 924
97, 555
96, 111
103, 692
101,964
106, 382
129, 645
84, 829
122, 608
119, 272
98, 827
126, 831
Stocks, end of month
do
124, 582
Fish oils:*
20, 148
22, 929
22, 944
12, 150
11,475
25, 287
16, 478
14, 135
23, 980
Consumption, factory
_ _ _ _ _ _ _ _ do
15, 721
19, 095
20, 178
16, 520
22, 706
19, 889
6,852
21, 109
21, 739
4,356
1,301
1,024
10. 927
Production
do
766
697
1,000
4,296
85, 999
108, 815
86, 445
59,041
91, 459
65, 152
85, 286
57, 728
61,021
85, 778
Stocks, end of month
_ _
do
69,069
55, 000
63, 611
Vegetable oils, total:
294
329
294
432
437
297
333
469
Consumption, crude, factory t
mil. of lb_.
425
410
458
385
349
23, 434
14, 540
16,148
25, 855
13, 654
19, 525
27, 885
37, 302
Exports§
thous. of Ib
14, 198
35, 737
16, 319
21, 199
10, 744
5,462
19, 106
23, 661
26, 669
52,306
54, 057
32, 474
34, 628
Imports totaf§
_ _ _ _ . do
40, 402
29, 596
32, 646
2,121
3,921
18, 208
37, 754
43, 672
2,801
13, 208
17, 008
11, 651
Paint oils§
do
21, 847
10, 531
10, 270
8,461
15, 185
8,623
2,661
14, 553
10,385
10, 453
All other vegetable oils§
do
15,465
22, 977
22, 376
18, 555
19, 065
248
330
481
278
283
468
313
488
ProductionJ
mil. of Ib
••352
441
513
408
329
Stocks, end of month:J
489
566
573
571
458
485
471
502
539
592
598
Crude
do....
••555
526
292
385
392
359
243
211
241
264
207
305
247
Eefined
do
292
251
r
Revised, c? See note in the April 1946 Survey with regard to difference between these series and similar data published in the 1942 Supplement to the Survey.
© Excludes data for Mississippi, which has discontinued monthly reports, beginning in the October 1946 Survey.
§ The indicated series continue data published in the 1942 Supplement; unpublished data beginning 1941 or 1942 through February 1945, and also corrected data for 1937-July 1945 for nitrogenous and total fertilizer imports, will be published later. Fertilizer and vegetable oil exports for 1947 have been revised to include Army civilian supply shipments (see note marked "5"
on p. S-20).
O For a brief description of this series see note in April 1946 Survey, t See note marked "t" on p. S-25 regarding unpublished revisions.
* New series. For source and description of data for glycerin see p. S-23 of November 1944 Survey and for turpentine and rosin, p. S-24 of the May 1946 issue. Small revisions in the data
for June 1943-August 1946 for glycerin will be shown later. Data for 1942-February 1945 for the new series on gelatin, and data prior to August 1946 for bone black and glue will be published
later; data for gelatin, bone black, and glue are compiled by the Bureau of the Census and are complete or practically complete. Data for 1940-43 for sulfur are on p. 24 of the May 1946 Survey
See note marked "*" on p. S-23 of the September 1947 Survey for reference to data for phthalic anhydride. Data for fertilizer consumption by midwestern States and the total (compiled by
the National Fertilizer Association from reports of tax tag sales) have been revised beginning in the March 1948 issue to exclude Illinois which has discontinued tag sales. Data beginning
1933 will be shown later.
t Revised series. See note in the November 1943 Survey explaining a change in the superphosphate data and note in September 1947 Survey regarding a company included beginning
January 1946. Revisions not shown above: 1947—production, January-April, 844,852; 827,818; 891,976; 866,514; stocks, February, 750,307. See note on S-23 of the November 1943 Survey regarding change in the turpentine price series.
SURVEY OF CURRENT BUSINESS
July 1948
S-25
1948
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
May
July
June
August
September
October
November
December
February
January
March
April
May
CHEMICALS AND ALLIED PRODUCTS—Continued
OIL SEEDS, OILS, FATS, AND
BYPRODUCT S— Con tinue d
Copra:
Consumption, factory§
short tons..
Imports§___ .
_ do
Stocks, end of month§
do.
Coconut or copra oil:
Consumption, factory:t
Crude
thous. of Ib
Refined
do _ _ _
Imports §
do
Production:!
Crude
do_ _.
Refined
do
Stocks, end of month:!
Crude
do
Refined
do
Cottonseed:
Consumption (crush)
thous. of short tons__
Receipts at mills
do
Stocks at mills, end of month _
do
Cottonseed cake and meal:
Production
short tons
Stocks at mills, end of month .
_ _ __do
Cottonseed oil, crude:
Production
thous. of lb_
Stocks end of month
do. _
Cottonseed oil, refined:
Consumption, factory t
do
In oleomargarine
do
Price, wholesale, summer, yellow, prime (N. Y.)
dol. per lb__
Production
thous. of lb_.
Stocks, end of month
do
Flaxseed:
Imports§
thous. of bu_.
Duluth:
Receipts
do
Shipments
do_ _
Stocks..
do
Minneapolis:
Receipts
do
Shipments
_
_ do
Stocks
do
Oil mills:*
Consumption
do
Stocks end of month
do
Price, wholesale, No. 1 (Minneapolis) dol. per bu_.
Production (crop estimate)
thous of bu
Linseed cake and meal:
Shipments from Minneapolis
thous. of lb__
Linseed oil:
Consumption, factory t
do
Price, wholesale (N. Y.)
dol. per lb__
Productiont
thous. of Ib
Shipments from Minneapolis
do
Stocks at factory, end of monthj
do
Soybeans:
Consumption, factory t
thous. of bu
Production (crop estimate)
do
Stocks, end of montht
do ._
Soybean oil:
Consumption, factory, refinedf
thous. of lb__
Price, wholesale, edible (N. Y.)d*
dol. per lb__
Production: J
Crude
thous of Ib
Refined
do
Stocks, end of month :t
Crude
do
Refined
do
Oleomargarine:
Consumption (tax -paid withdrawals)!
do
Price, wholesale, standard, uncolored, (Chicago)
dol. per lb_.
ProductionJ...
thous. of lb__
Shortenings and compounds :J
Production
_. .
do
Stocks, end of month
do
53, 347
61, 004
59, 714
52, 368
51, 346
44, 320
45, 330
18, 644
42, 300
40, 731
31, 340
26, 861
41,828
48, 297
23, 871
47, 148
53, 485
22, 984
48, 821
67, 222
25, 945
60,511
85,829
41, 611
61, 796
56, 167
37, 259
53, 135
55,546
35, 392
50, 194
51, 513
36, 471
40, 136
34, 349
28, 825
35, 102
70, 349
29, 103
2,394
61, 636
27, 664
3,225
62, 008
23, 784
1,767
69, 608
32, 977
866
72, 257
30, 174
G)
79,656
29, 828
0
72, 862
26, 618
956
76, 857
28, 317
5,080
85, 370
29, 315
11, 593
68, 333
24, 666
3,848
69, 523
23, 342
9,598
54, 484
22, 985
7,694
54, 088
20, 914
68, 398
33, 020
66, 074
28, 611
57, 902
30, 466
51, 902
34, 228
53, 609
33, 498
61, 103
35, 388
62, 287
35, 088
77, 238
33, 225
81, 371
37, 233
67, 737
28, 361
64, 280
31, 502
51, 137
27, 771
45, 362
26, 935
138, 489
19, 088
134, 949
J2,998
127, 927
14,412
105,978
10, 737
89, 363
11, 194
69, 578
10, 998
59, 669
9,213
69, 672
11,834
75, 584
12, 616
86, 546
10, 500
96, 226
11,837
98, 773
12, 120
101, 254
14, 214
104
11
163
69
14
108
74
65
100
102
167
163
345
776
594
647
1,509
1,458
596
654
1,515
565
476
1,426
522
212
1,116
412
74
778
326
51
503
205
24
322
147
14
188
45, 879
117,052
30, 477
87, 958
33, 980
46, 941
47, 068
26, 416
156, 076
37,844
301,370
62, 121
276, 451
71, 590
261, 942
74,035
241, 668
71, 207
191, 325
85, 139
154, 388
86, 060
95, 374
92, 080
67, 944
100, 037
34, 925
33, 979
23, 341
19, 990
24,212
15, 191
31,109
19, 209
104, 348
57, 307
197, 834
95, 356
181,915
112, 684
174,444
109, 368
163, 998
121, 742
130, 270
117, 424
105, 162
87, 096
67, 539
58, 472
47, 743
43, 054
35, 140
12,981
44, 687
16, 407
56, 312
19, 906
74, 243
20, 115
74, 751
27, 891
119, 107
41, 554
129, 166
44, 146
122,265
42, 368
126, 686
46, 718
106, 611
42, 779
105, 985
38, 728
96, 604
36, 180
91, 090
.256
45, 388
217, 849
.241
35, 517
204, 106
.234
26, 410
171, 094
.179
24, 913
116, 709
.224
56, 852
92, 081
.237
144, 981
107, 882
.276
157, 874
133, 196
.289
159, 637
152,916
.299
140, 848
152, 706
.246
124, 877
158, 523
.261
123, 628
182, 206
.305
90. 821
168, 750
.371
60, 035
126, 912
17
77
106
17
0
0
0
2
5
6
2
1
10
83
145
7
74
78
2
72
8
12
0
20
1,435
436
1,019
2,733
1,053
2,699
911
1,147
2,463
48
1,764
747
165
183
728
66
0
794
50
1
843
53
189
707
45
69
683
257
87
1,162
128
202
516
99
82
296
2,125
270
453
8,425
1,142
5,004
4,928
530
•6,434
1,904
274
6,305
1,360
168
5,833
1,224
257
5,114
723
318
4,263
530
298
3,099
653
199
2, 500
870
308
1,888
1,335
855
6.3C
1,687
1,457
6.12
1,641
1,892
6.02
1,325
2,526
6.00
2,410
5,720
6.39
3,051
6,789
6.78
3,174
6,893
6.84
2,319
6,559
7.01
2
39, 763
2,930
6 290
7.06
2,595
5,800
6.51
2,309
4,879
6.19
2,442
3,843
6.04
2,661
3,156
6.09
26, 760
22, 659
26, 160
29, 580
18,540
45,360
51, 480
49, 500
49,020
50,460
49, 740
47, 280
47, 580
44, 520
45, 094
.376
25, 064
19, 620
134, 627
38, 716
.325
32, 057
13, 620
144, 544
40, 030
.302
32, 250
14, 880
157, 724
39, 834
.291
26, 527
21, 240
132, 682
40, 865
.303
48, 030
27, 240
118, 443
44, 820
.318
59, 564
33, 840
127, 444
36, 508
.324
61, 592
29, 580
124, 541
38, 532
.346
45, 496
27, 900
126, 678
39, 008
.338
57465
29, 940
135, 394
38, 987
.306
51, 663
28, 020
141, 504
40, 871
.292
46, 264
29, 760
135, 741
40, 292
.290
48, 974
37, 440
134, 511
40, 248
.290
52, 905
33, 720
131, 442
16,481
14, 962
14, 762
r 14, 185
13, 287
27, 393
15, 006
13, 356
13, 613
11, 284
9,733
11, 439
14, 659
37, 147
28, 004
19, 124
10, 248
2,775
34, 624
48, 053
15,219
181 362
48, 855
47,824
43, 596
36, 857
' 33, 608
71, 687
.268
75, 842
.244
82, 261
.227
98,077
.209
109,838
.233
141, 963
.264
119, 523
.312
110, 066
.326
110, 777
.326
94,091
.262
100, 295
.269
114, 035
.298
120, 972
.322
135, 889
92, 605
122, 436
83, 890
125, 706
98, 720
105, 315
91, 251
91, 358
89, 400
107, 170
88,413
133, 652
97, 345
139, 551
112, 683
152,966
110, 912
139 900
99, 320
139, 370 ' 133, 994
116, 152
108, 829
128 843
111, 844
108, 829
114, 604
122, 760
128, 141
125, 686
141, 671
105, 941
140, 430
79,583
124, 043
80, 496
76, 800
84, 239
59, 667
77, 491
64, 161
86, 703
63,850
104, 788
71, 561
114, 745
84, 848
«• 98, 493
r
89, 797
36, 565
40, 527
47, 448
47, 251
67, 771
82, 894
78, 249
72, 914
87, 252
72 986
74, 314
75, 063
.354
37, 809
.330
41, 414
.332
48, 897
.330
50, 041
.340
67, 422
.362
87, 005
.385
81, 806
.400
79, Oil
.402
87, 934
.392
80, 418
.382
71, 817
.390
74,079
.405
63, 151
49, 995
78, 853
63, 094
79, 921
47, 086
98, 978
45,803
117,858
36, 393
159, 623
41, 887
145, 979
45, 051
131,819
53, 488
136, 936
54, 493
101, 120
64, 144
109, 013
59, 550
128, 033
51, 396
124 142
56, 751
2
87, 501
87, 460
PAINT SALES
Calcimines, plastic-texture and cold-water paints:*
104
79
86
96
Calcimines
thous. of doL
83
71
79
81
77
97
87
58
224
180
213
210
218
Plastic-texture paints _
do
271
187
243
218
203
254
203
Cold-water paints:
432
409
436
408
In dry form.
do_
433
305
282
439
377
306
402
253
332
306
361
407
256
In paste form for interior use__
do
217
303
235
336
328
333
286 T
84, 951
92, 634
99, 595
86, 700
86, 312
Paint, varnish, lacquer, and fillers, total®, .do
68, 914
71, 199
91, 443
88, 015
96, 979
78, 933 r 91, 685
77, 874
76, 956
82, 973
88, 740
76, 662
62, 213
64, 200
Classified, total
do...
82, 459
82, 403
78, 778
87 733
71, 256
31, 073
31, 741
32, 480
30, 018
Industrial
do
28, 623
31, 607
29, 688
34, 970
31, 743
30 159 T 35 328
33 838
45, 883
47, 856
51, 232
56, 261
45, 055
Trade
_.
do. .
32, 526
35, 577
47, 489
53 895
47, 035
41 097 r 47, 074
r
7,995
8,825
9,661
10, 854
Unclassified
.do
6, 999
8,984
9,650
6,700
9,237
'9,283
9,246
7,677
r
l
Revised. Less than 500 pounds. 2 December 1 estimate.
§ Data continue series published in the 1942 Supplement; unpublished data through February 1945 for the indicated series will be shown later.
} See note marked "§" on p. S-25 of the September 1947 Survey for reference to July 1941-June 1946 revisions for oleomargarine; revisions for July 1946-June 1947 are shown on p. S-25 of
the April 1948 Survey. Small or scattered revisions for 1941-August 1946 for the other indicated series will be published later. Revised data for fish oils are available on a quarterly basis only.
cfThis series, compiled by the U. S. Department of Labor, replaces the series for refined oil shown in the 1942 Supplement; earlier data will be published later.
•Data for some items are net comparable with data prior to 1945; see note for calcimines, plastics, and cold-water paints at bottom of p. S-23 of the December 1945 Survey.
(^Revised figures for January 1946-February 1947 will be shown later.
SURVEY OF CURRENT BUSINESS
S-26
July 1948
1948
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
July
June
May
August
September
October
November
December
January
February
March
April
May
CHEMICALS AND ALLIED PRODUCTS—Continued
PLASTIC PRODUCTS
Shipments and consumption:
Cellulose acetate and mixed ester plastics: <8>
Sheets, rods and tubes
_ thous. of lb_.
Molding and extrusion materials
do
Nitrocellulose, sheets, rods, and tubes.® ...do
Other cellulose plastics*
do. .
Phenolic and other tar acid resins*
do
Urea and melamine resins*
do. _
Polystyrene*
_
. . _ _ . _ _ _ _ _ do
Vinyl resins*
do _
Miscellaneous resins*
_ ..... do
1,689
4,317
1,052
fi)
27, 377
6,218
6,854
13, 126
6,435
1, 682
3,715
931
0)
27, 736
6,761
5,955
11, 546
5,891
1,410
2,779
892
0)
25, 930
6,652
5, C88
11, 573
5,819
1,479
3,404
903
(i)
26,000
5,578
7,075
12,917
5,567
1,284
4,153
921
0)
27, 262
5,839
8,381
15, 125
8,032
1,799
5,105
1,040
0)
28, 129
6,836
10, 931
18, 040
7,388
1,462
4,666
832
0)
25, 719
6,115
10, 593
16, 837
7,120
1,343
3,830
842
0)
27, 662
6,739
11, 456
20, 404
7,157
1,285
4,461
865
747
28, 749
6,824
10, 226
19, 554
7,677
1,321
3,733
930
652
26, 701
6,772
8,382
17, 634
7,800
1,354
3,960
999
769
30, 594
7,116
12, 718
19,037
8,639
1,568
3,877
1,071
974
r
26,356
6,561
12, 189
19, 198
8,219
1,458
3,630
866
1,024
20, 716
0)
10, 777
15, 946
8,488
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial) , total*
mil. of kw.-hr__
Industrial establishments*
do
By fuels*
___
_ . _ do. .
By water power*
_
do
Utilities (for public use), total!
do
By fuelsf
.
. _ do
By water power! _ _ do. .
Privately and municipally owned utilities
do
Other producers!
do
Sales to ultimate customers, total (Edison Electric
Institute)!
mil. of kw.-hr_.
Residential or domestic ....
. . do
Rural (distinct rural rates)
.._._. . do_ „_
Commercial and industrial:
Large light and poweHI
._._.._ do....
Street and highway lighting!
do
Other public authorities!
..
do
Railways and railroads!
.
do. .
Interdepartmental!
_ _ _ _ . _ _ _ . do
Revenue from sales to ultimate customers (Edison
Electric Institute)
...... thous. of dol
25, 634
4,153
3,858
26, 748
4,410
4,063
26, 180
4,333
3, 950
27, 951
4,439
4,085
28, 443
4,485
4,119
26, 465
4,271
3,902
27, 966
4,488
4,061
26, 569
4,272
3,807
27, 035
4,427
3,971
21,744
15, 690
f,OS3
21, 481
15, 875
5,606
22, 338
16, 846
5,492
21, 847
15, 763
6,084
23, 512
17, 099
6,413
23, 958
17, 514
6,444
22, 194
15,821
6,373
23, 478
16, 005
7,473
22,296
14, 416
7,881
22, 609
14, 925
7,684
17,847
2 936
18,733
3,011
18, 630
2,861
19, 540
2,798
18,977
2,870
20,292
3,220
20, 649
3,309
18,996
3,198
20,015
3,463
18, 802
3,494
19, 122
3,487
17,308
3,307
18, C99
3,332
18,496
3,512
18, 656
3,601
18, 726
3,876
19, 617
4,329
20, 267
4,777
19, 904
4,633
19, 969
4,391
19,400
4,159
3,123
9,068
160
469
3,490
9,934
251
530
3,670
9,990
248
548
3,518
9,897
219
634
3,497
10, 197
214
531
3,450
10, 014
188
509
351, 460
362, 163
367, 698
354, 600
346, 646
25, CC9
4,233
3,809
24, 469
4,225
3,825
24, 938
4,156
3,772
25, C69
4,225
3,892
20, 776
13, 387
7,389
20, 244
13, 451
6, 793
20, 782
14, 236
6,546
17, 801
2,976
17,414
2,829
17, 610
3,437
17, 546
3,369
424
514
2,994
9,375
166
475
604
46
310, 026
4CO
558
3,060
9,356
154
475
531
44
309, 631
383
606
638
46
305, 855
OOO
295
348
607
498
3,262
9,601
176
483
3,406
9,724
193
490
3,293
9,951
219
499
618
45
548
46
315, 590
325, 639
328, 209
383
681
632
44
382
3,346
9,757
234
502
578
51
335, 687
355
379
648
56
366
384
685
66
369
429
613
59
427
458
623
69
466
455
463
560
57
GASf
Manufactured and mixed gas (quarterly):
Customers, end of quarter, total
thousands..
Residential (incl. house-heating) _ _ do. _
Industrial and commercial
_.
do
Sales to consumers, total. .
__mil. of cu. ft_
Residential
__
_ ...
do
Industrial and commercial..
do. __
Revenue from sales to consumers, total
thous. of dol_
Residential (incl. house-heating)
do
Industrial and commercial
... do. ,
Natural gas (quarterly):
Customers, end of quarter, total
thousands
Residential (incl. house-heating)
do
Industrial arid commercial..
_ do. _
Sales to consumers, total
mil. of cu. f t _ _
Residential (incl. house-heating)
do
Industrial and commercial
_ _do_ .
Revenue from sales to consumers, total, thous. of dol.
Residential (incl. house-heating)
_.do_...
Industrial and comrrerciaL. .
do. .
11, 258
10, 636
11,068
10, 350
10,852
10, 141
161,485
100,881
49, 273
108, 430
66, 906
40,635
147, 140
97, 271
48, 479
135, 259
100, 682
33,719
108, 519
80, 130
27, 796
135, 198
99, 716
34, 601
9,772
9,061
10, 107
9,392
30,688
9,897
596, 470
161, 527
428, 6C8
197, 743
104,348
92, 106
521, 774
76, 503
439, 602
150,444
59, 770
89, 584
646, 412
185, 386
452 909
220 431
117, 858
100 887
713
716
700
708
703
784
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors :f
Production
thous. of bbl_.
8,342
7,985
9,044
8,833
8,738
9,064
6,650
6,063
6,392
6,989
6,258
7, 264
7,381
7,512
Tax -paid withdrawals
. do
7,939
8,776
8,842
8,369
8, 303
6, 126
5,952
5 475
6 398
6, 701
6 977
6 75*2
Stocks, end of month
do
9,531
9,565
9,453
Q 093
Q' j.o<
Q*fiS4.
Q' 733
9,050
9,021
9 414
9 647
y, \j6o
9 670
a, QCfy, 1R7
y, uoit
you
y, IOO
Distilled spirits:
Apparent consumption for beverage purposes f
thous. of wine gal..
12, 173
11,392
12, 283
12,378
14, 216
23, 893
18,047
13, 140
12, 871
18, 323
12, 139
13, 129
Imports§
thous. of proof gal.
1, 125
834
1,071
797
1,172
1,414
1, 185
773
1, 206
980
943
1 099
OO 7HK
21, 854
16, 429
Production!thous. of tax gal
13, 726
22, 218
14, 187
39, 559
7 735
9 489
4 193
21 884
32 809
zo, /uo
25 95i>
6,130
Tax-paid withdrawals!do
6,039
5,650
7,171
8,639
16,' 497
16^030
lo! 342
8^080
8^937
6^660
e| 78?.
7,210
Stocks, end of month!.
do
618, 459
525, 828
529, 523
533,051
537, 471
542, 907
527,337
516, 406
513, 896
523, 546
545, 365
564, 119
580,827
Whisky:
Imports§
. thous. of proof gal
1,071
1,002
793
757
1,102
1,310
1 108
709
1,059
892
866
996
on OOO
9,932
Production!
- thous. of tax gal
14, 143
7,229
9,790
90 U4J
7,197
9, 732
' 56
4 702
655
13 768
20 635
ZU, 041
/U, CKQ
Tax-paid withdrawals!..
do
3,185
3,280
2,975
3,372
4,258
7,770
7,819
5,507
4*050
4' 177
3', 575
3, 30tf.
3,616
Stocks , end of month!
__.do
459, 217
464, 825
468, 432
471, 273
474, 956
474, 507
463, 407
456, 366
455, 409
462, 090
479, 241
494, 969
511, 24S!
' Revised, i Not available for publication. § Data continue series published in the 1942 Supplement; data for December 1941-February 1945 will be published later
!For 1943-44 revisions for the indicated series see notes at bottom of pp. S-23 and S-24 of the May 1945 Survey.
<S>Data for sheets, rods and tubes are comparable with similar data in the 1942 Supplement; see note in September 1946 Survey regarding change in data for molding etc materials
*New series. For data for 1939-45 for production of electricity by industrial establishments see p. 32 of the February 1947 Survey; minor revisions for January to October 1946 will be shown
later. The new series for plastic products are from the Bureau of the Census and include all known producers; earlier figures and a description of the data will be published later.
TRevised series. Gas statistics are shown on a revised basis beginning in the December 1946 Survey; see note in that issue. For revised figures for the indicated series on electric power
production, except the series for "other producers," see p. 32 of the February 1947 Survey; minor revisions for January to October 1946 will be published later. See note marked "t" on p. S-26
of the September 1947 Survey for reference to revisions for 1940-45 for consumption of distilled spirits for beverage purposes and for the fiscal years 1941-46 for the other alcoholic beverage
series;the note also explains a change in the series for stocks of distilled spirits; see p. S-23 for tax-paid withdrawals of ethyl alcohol, which are largely for beverage purposes.
SURVEY OF CURRENT BUSINESS
July 1948
S-27
1948
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
May
June
July
August
September
October
November
December
January
February
March
April j
May
FOODSTUFFS AND TOBACCO—Continued
ALCOHOLIC BEVERAGES— Continued
Rectified distilled spirits, production, total f
6,706
thous. of proof gal. .
Whisky
. .
do _ 6,155
Wines and distilling materials:
Sparkling wines:
13
Imports§
thous. of wine gal
130
Productionf
do_ _
62
Tax -paid withdrawals!
do
1,882
Stocks, end of month!. -do. _
Still wines:
172
Imports§
do
390
Production©
_ _ _ _ do
5,682
Tax-paid withdrawals!
do
168,710
Stocks end of month!
- - - do
1,040
Distilling materials produced at wineries© do
6,522
7,831
7,012
8,083
7,522
9,689
8,965
16, 480
15, 126
17, 593
16, 254
12, 732
11, 656
8,939
9,307
8,655
8,423
7,664
8,661
8,217
12
146
44
9
74
51
9
48
64
21
36
84
28
29
155
28
57
158
18
97
147
26
101
64
12
78
54
11
144
57
25
166
50
7,021
7,928
1,975
1,990
1,964
1,911
1,774
1,656
1,581
1, 599
1,613
1,685
99
383
6,627
117
2,479
6,680
194
175
53, 331
11, 431
215, 860
96, 627
138
139
2,675
237
657
160
495
8,804
214
799
7,307
1,792
129
309
6,249
8,140
183
647
9,953
160, 211
661
152, 534
1,867
146, 660
7,948
31, 575
8,180
171, 239
49, 423
.674
148, 790
83, 286
.745
116, 550
88, 364
.802
101, 310
76, 912
11, 429
10, 282
11,220
9,471
216, 517
31, 179
205,083
8,596
195,888
2,554
186, 843
1,031
.718
91, 890
72,125
.794
69, 220
46, 002
.881
74, 490
23, 672
.851
79, 080
13, 399
.836
77, 095
10, 904
176, 213
166, 314
2,248
2,096
DAIRY PRODUCTS
Butter, creamery:
Price, wholesale, 92-score (N. Y.) }_.._dol. per lb__
Production (factory) f
thous oflb
Stocks, cold storage, end of month cf
do
Cheese:
Imports§
_ _ _ _ _ _ _ do
Price, wholesale, American Cheddars (Wisconsin)
dol. per lb__
Production, total (factory)!
thous. of lb__
American whole milk!
_ _ do
Stocks, cold storage, end of monthcf
do
American whole milk.
do
Condensed and evaporated milk:
Exports:§
Condensed
do
Evaporated
_
.
do
Prices, wholesale, U. S. average:
Condensed (sweetened).
dol. per case
Evaporated (unsweetened)...
...do
Production:
Condensed (sweetened):
Bulk goods*
_ _ _ thous. of Ib
Case goods!
-_
do
Evaporated (unsweetened), case goods!- _ do
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened) _ _ _ _ thous. of Ib
Evaporated (unsweetened).
do_
Fluid milk:
Price, dealers', standard grade
dol. per 100 lb__
Production!
—
mil. of lb__
Utilization in manufactured dairy products!
mil. o f l b _ _
Dried skim milk:
Exports§
_ _ _ _ _ _ thous. oflb
Price, wholesale, for human consumption, II. S.
average
_ __
. dol. per Ib
Production, total f
thous. of lb_.
For human consumption!
do
Stocks, manufacturers', end of month , total
thous. oflb..
For human consumption
do
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu
Shipments, carlot
no. of carloads
Stocks, cold storage, end of month. .thous. of bu_.
Citrus fruits, carlot shipments
_.no. of carloads
Frozen fruits, stocks, cold storage, end of month
thous. o f l b _ _
Frozen vegetables, stocks, cold storage, end of
month
thous. oflb..
Potatoes, white:
Price, wholesale (N. Y.)
_..dol. per 100 Ib
Production (crop estimate)!-. _ ._ thous. of bu
Shipments, carlot
no. of carloads
.613
' 147, 692
17, 445
355
.298
r
144, 046
' 118, 486
133, 495
106, 479
.633
157,120
51, 625
152,125
125, 815
161, 363
130, 005
828
100, 025
' 4, 449
.801
132, 495
18, 096
647
615
1,139
1,554
1,519
1,369
1,915
1,591
.345
.365
92, 670
74, 480
193, 849
164, 651
.386
82, 720
64, 170
151, 455
.391
61, 760
44, 480
162, 682
139, 355
(0
60, 025
42, 395
147, 683
128, 188
(0
65, 140
45, 740
124, 106
107, 236
0)
64, 630
46, 730
110, 125
93, 570
0)
80, 615
58, 915
103, 350
88, 737
8,831
' 25, 680
7,818
19, 601
16, 073
18, 745
16, 123
30, 555
8.93
5.83
9.12
5.99
9.12
6.00
9.32
6.08
9.63
6.39
25, 255
332, 000
13,900
44, 300
13, 500
449, 700
113,505
110,140
185, 202
151, 661
89, 610
202, 597
169, 571
176,626
42, 869
9,201
42, 071
41,394
10, 316
55, 278
15, 726
72, 852
14, 655
49, 110
8.26
5.23
8.26
5.18
8.26
5.19
8.26
5.20
8.26
5.24
8.40
5.31
8.80
5.52
111, 775
13, OCO
416, 200
117, 535
12, 950
410, 000
74,095
15,025
347, 600
32, 470
17, IfO
257, 400
23, 045
21, 100
218, 000
20, 330
19, 500
200, 500
152, 500
11,475
156,400
6,387
278,814
7,1P6
440, 952
501, 177
10, 561
474, 600
379, 712
284, 061
8,501
223, 940
158, 551
4.46
12, 134
4.41
12, 821
4.49
12, 102
4.60
10, 595
9,259
8,845
4.87
4.97
8,015
8,056
5,509
5,814
5, 344
4,223
3,654
3,319
2,479
2,568
19, 648
21, 538
28, 309
29, 803
25, 188
43, 660
33, 512
28,515
.094
91, 665
88, 200
r
T
3,482
459
7,549
39, 518
.096
102, 020
96, 730
.095
81, 830
78, 500
.097
51, 925
49, 450
.102
41, 000
39, 740
.111
31, 935
31,000
.124
22, 850
22, 320
.141
31, 525
30, 780
103, 875
101, 532
no; 775
115. 105
95,744
91,028
76,713
74,030
50, 237
48, 813
35, 732
35, 359
21, 172
20, 450
627
1,428
219
783
8,624
264
6,214
10, 435
8,562
.802
89, 990
.338
136, 425
401
0)
7,323
9,477
8, 161
11,333
4.71
8.80
5.70
12,095
12,650
6,868
2,012
f 0)
96, 230
f
73, 490
' 105, 263
r
91, 907
8,830
0)
128, 270
102, 110
122, 313
106, 419
14, 720
14, 530
176, 000
193, 000
17, 575
10, 275
270, 400
8,682
9,124
73, 267
63, 117
80, 752
8,777
11, 619
177, 715
8,354
5.08
5.10
8,219
9,273
5.09
5.07
10, 002
5.02
11, 842
2, 766
2,769
3,360
3,876
5,171
19, 710
9,671
6,810
5,383
.146
38, 570
37, 700
.149
40, 425
39, 650
.148
53, 940
52, 750
.143
65, 670
64,100
92,400
90,250
15, 243
14, 685
14,972
14, 613
18, 559
18, 155
32,202
40, 750
40, 293
63, 577
62, 469
34, 322
10, 430
5,531
35, 790
13, 275
112, 503
3,918
29, 807
16, 499
4,516
22, 772
16, 695
4,729
16, 567
14, 701
4 175
10, 244
15, 218
r
3 523
' 4, 896
15, 061
1 720
1,848
14, 233
9,463
14, 165
8,575
9,362
95, 433
5.02
2
r
8,800
8,622
31, 806
.143
1,687
1,544
17, 774
329
13, 857
327, 700
332, 345
374, 363
408, 119
402, 821
405, 838
392, 077
369, 470
343, 539
316, 819
281, 762
r
247, 895
251, 895
230, 827
251, 687
307, 574
326, 603
353, 239
347, 466
323, 991
291, 752
254, 853
226, 619
196, 628
•• 176, 118
159, 831
3.812
4.106
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
23, 713
25, 272
(3)
2 384, 407
15, 974
9,429
22, 313
9,027
19, 028
7,403
25, 187
25, 504
20, 136
22, 092
21, 484
27 753
r
23 356
(3)
23, 405
GRAINS AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal§
47,281 ••42,395 ' 42, 447 r 49, 622
thous. of bu_ ' 73, 726 '62,684 ' 64, 286 ••67,855 r 51, 799
42, 269
38, 298
39, 312
Barley:
4,234
Exports, including malt§
do
2,948
' 4, 277
' 3, 299
2,713
2,641
'859
794
465
'1,370
1,157
668
Prices, wholesale (Minneapolis):
2.299
2.259
2.136
2.010
No. 2, malting
dol. per bu_.
2.276
2.711
2.379
2.359
2.675
2.590
2.354
2.433
2.381
1.896
2 142
2.032
No. 3, straight
.
do
2.117
2.143
2.130
2 243
2 426 2 2 510
2 218
2 507
2 267
2 227
Production (crop estimate)!
thous. of bu
4 290 307
279, 182
8,449
25, 093
7,974
8,252
Receipts, principal markets..
do
27, 113
14, 605
12, 111
10, 021
8, 679
5, 773
5,737
5,717
7,270
Stocks, domestic, end of month:
7 597
5,593
14, 263
27, 444
7,753
Commercial
_ _ .. do. __ r 8, 872
29, 679
27 846
24 205
26, 581
21 521
10 879
15 756
«• 36, 879
On farms*
do
160,403 1
68', 696
117, 300
r
3
4
Revised. 1 No quotation. * December 1 estimate. No comparable data. June 1 estimate.
tSee note in June 1945 Survey for explanation of this price series. cfSee note marked "d* "on p. S-29.
©Distilling materials produced at wineries, shown separately above, were combined with production of still wines as shown in the Survey through the February 1947 issue.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later. The 1947 export figures for
dairy products and grains have been revised to include Army civilian supply exports (see note marked "§" on p. S-20).
• Revised 1943 data are on p. 13 of the March 1945 Survey; see note on item in February 1945 issue regarding earlier data; 1944-45 revisions are on p. 23 of October 1947 Survey. Final
revisions for 1946 will be shown later.
*New series. Data beginning 1936 will be shown later; the June figure includes old crop only.
!Revised series. See note marked "t" on p. S-26 of the September 1947 Survey for reference to revised figures for fiscal years 1941-46 for the indicated alcoholic beverage series. Revisions
for all months of the fiscal year 1947 are shown on p. S-27 of the November 1947 Survey. See notes marked " ! " on pp. S-25 and S-26 of the April 1946 Survey for references to 1941-43 revisions
for the indicated series for manufactured dairy products; data for 1944-45 for these series and for utilization of milk in manufactured dairy products are shown on p. 16 of the April 1946 Survey
but there have been further revisions in the 1944 and 1945 figures for total cheese and 1945 figures for dry skim milk which are shown on p. 23 of the October 1947 Survey; final revisions for the
production of all manufactured dairy products for 1946 will be shown later. Revisions for 1920-43 for utilization of milk in manufactured dairy products will also be shown later. January
IS tO-December 1945 revisions for milk production are on p. 19 of the April 1947 Survey. Revised estimates of potato crop and barley for 1929-44 are available on request.
SURVEY OF CURRENT BUSINESS
8^28
July 1948
1948
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
May
June
August
July
September
October
November
December
January
February
March
April
May
FOODSTUFFS AND TOBACCO—Continued
GRAINS AND GRAIN PRODUCTS—Con.
Corn:
Exports including meal §t
thous. ofbu. _
Grindings, wet process
_
do
Prices, wholesale:
No. 3, white (Chicago)..,
dol. per bu__
No 3 yellow (Chicago)
do
Weighted average, 5 markets, all grades_.do
Production (crop estimate) t
niil of bu
Receipts, principal markets
do
Stocks, deomstic, end of month:
Commercial
do
Oats?
Exports including oatmeal §t
thous ofbu
Price, wholesale, No. 3, white (Chicago)
dol. perbu..
Production (crop estimate) t
mil ofbu
Peceipts, principal markets. _ _
do
Stocks, domestic, end of month:
Commercial
do
On farmst
^o
Pice:
Exports §J
thous. of Ib
Imports 5
do. __
Price, wholesale, head, clean (N. O.)_.dol. per lb_.
Production (crop estimate) f
thous o f b u
California:
Receipts, domestic, rough
thous. of bags (100 lb.)_.
Shipments from mills, milled rice
do
Stocks, rough and cleaned (in terms of cleaned),
end of month
thous. of bags (100 lb.)_.
Southern States (La., Tex., Ark., Tenn.):
Receipts, rough, at mills.. thous. of bbl. (162 lb,)._
Shipments from mills, milled rice
thous. of pockets (100 lb.)_.
Stocks, domestic, rough and cleaned (in terms
of cleaned), end of month
thous. of pockets (100 lb.)__
Pye:
Price, wholesale, No. 2 (Minneapolis) -dol. per bu_.
Production (crop estimate) t
thous ofbu
Peceipts principal markets
do
S tocks, commercial, domestic, end of month-do
Wheat:
Disappearance, domesticf
do_ .
Exports, wheat, including four§t_ _ __ _do
Wheat only§
do. _.
Prices, wholesale:
No. 1, Dark Northern Spring (Minneapolis)
dol. per bu__
No. 2, Red Winter (St. Louis)
do....
No. 2, Hard Winter (Kansas City)..
do
Weighted av., 6 mkts., all grades
do
Production (crop estimate), total t mil. of bu
Spring wheat *
do
Winter wheat
do
Receipts, principal markets
thous. of bu__
Stocks, end of month:
Canada (Canadian wheat)
...do
Commercial
_
do
Merchant mills
do
On farmsf
^o
Wheat four:
Exports $J
. thous. of bbl.
Grind ings of wheat®
thous. of bu
Prices, wholesale:
Standard patents (Minneapolis).. dol. per bbl.
Winter straights (Kansas City)
do >
Production (Census):®
Elour
thous. of bbl
Operations percent of capacity
Offal
mil. off Ib.
Stocks held by mills, end of month® thous. of bbl
27, 786
12,385
18, 014
11, 794
16,353
11, 635
5,827
11,083
1,951
11, 100
1,425
11,387
1,496
10, 831
1.790
1.779
1.677
2.143
2.097
1.948
0)
2.169
1.995
2.740
2.346
2.295
2.583
2.513
2.370
2.508
2.403
2.277
2.465
2.423
2.345
38.7
40.2
39.1
22.8
22.6
21.1
16.3
11.2
687.8
11.8
7.7
7.9
3 254. 2
7.3
r
1,027
9,762
603
10, 180
942
8,386
783
7,999
1,213
7,804
8,408
2.572
2.611
2.489
2
2, 401. 0
22.7
20.0
2.692
2.711
2.582
0)
2.253
2.152
2.442
2.301
2.229
2.390
2.318
2.257
2.388
2.306
2.249
r
26.9
18.3
12.3
19.7
19.9
11.6
13.2
1, 517. 9
17.0
21.0
9 3
849.2
7.5
5.0
2, 728
1,741
1,478
2,767
2,274
950
663
609
.988
1.021
.952
1.014
1.161
1.201
14.2
12.2
16.2
29.2
22.5
16.7
4.6
5.0
3 259. 1
5.6
15.9
26.6
964.3
27.8
22.1
60, 363
163
.090
52, 403
3
.090
22, 897
1
.126
21, 592
2
.125
61, 944
204
.118
118,889
1,236
.114
140, 214
424
.121
583
496
300
242
207
154
41
142
75
69
1,490
443
877
449
233
171
169
59
41
536
639
669
83
107
99
573
3,306
5,790
2,644
942
515
246
477
309
1,784
3,051
2, 889
1,625
2,614
1,291
1,091
1,113
1.273
2 1, 216. 0
8.1
7:4
1.401
1.273
1.298
1.253
12.0
5.8
8.4
8.2
1.170
1,357.2
9.2
14.0
743.8
10.0
7.1
3.3
410.6
1.9
1.7
90,675
209
.122
79, 345
31, 628
267
.127
104, 889
647
.134
63, 322
1,266
.129
93, 137
.129
.138
510
292
582
549
820
796
728
273
1,021
668
634
476
527
284
481
490
404
621
365
203
155
207
1,307
890
953
1, 217
832
1.241
2
480
4
615
476
119
393
2,002
4,863
4,755
4,141
3,562
3,071
2,359
1,346
735
3.192
3.029
2.541
2.466
2.817
2.853
2.824
2.763
2.410
2.562
2.530
2.412
138
1, 359
102
1,024
177
556
2,634
2,214
2,084
3,824
1,366
4,262
512
4,427
2.769
2
25, 977
443
4,072
437
3,636
367
2,688
609
1,521
654
1,286
657
954
224, 890
38, 237
10, 354
41, 383
20, 047
3?6, 391
46, 278
29, 132
41, 862
26, 366
45, 940
24, 502
39, 147
27, 121
319, 102
34, 624
19, 397
36, 206
21, 118
2.677
2.705
2.693
2.637
2.719
2.587
2.373
2.563
2.935
2.368
2.288
2.400
2.710
2.384
2.318
2.472
2.840
2.704
2.646
2.801
3.167
2.952
2.953
3.093
3.198
3.120
3.032
3.149
2.765
2.866
2.508
2.684
2.667
2.538
2.454
2.609
2.669
2.546
2.445
2.612
26, 345
26, 156
121, 869
91,847
72, 625
68, 872
36, 469
16 296
14, 895
23, 300
70, 405
83, 623
s 8, 129
3 9, 976
3 24, 591
MO, 427
55, 395
58,655
146, 292
130, 639
102, 328
53, 096
166, 359
152, 400
124, 041
97 989
85, 835
477 593
70, 174
73 476
73 565
256 533
72, C82
167, 718
126,282
796 618
141,889
112 279
111, 730
427, 620
115, 735
114, 913
113,863
1,122,206
175,069
196, 631
136, 216
610, 300
56, 694
49, 622
5, 912
55, 744
' 5, 932
55, 462
4,540
57, 031
3, 648
56, 720
3,297
60, 393
2,319
54, 188
f 2, 528
53, 734
4,561
55 141
2 559
47 974
3 240
49 631
12.74
12.39
12.60
11.03
13.27
10.77
12.72
10.97
13.57
12.03
14.56
13.13
14.97
13.51
14.23
13. 21
14.06
13 20
12.34
11 24
12,445
81.1
930
12,332
83.9
928
2.237
12,713
83.2
944
13, 233
86.4
996
12,646
85.8
948
2,523
13,432
84 3
1,012
12, 080
89 0
899
11,977
78 0
896
3 016
12 334
80 0
922
10 715
78 1
804
r
r
41, 514
13, 729
80, 514
r
15, 780
T
r
3
r
56, 843
38, 605
r
3, 880
59, 619
r
r
r
r
36, 834
25, 933
325, 626
38, 301
' 26, 421
r
3.231
3.020
2.999
3.154
3. 160
3.089
3.011
3.110
2 1, 364. 9
2
296 9
2
1,068.0
40, 028
43, 297
2.625
2.440
2.402
2.596
4 315 2
31, 475
T
3 210
50 288
51 883
12.08
11 07
11.91
10 92
11.46
10 61
11 106
69 0
831
2 567
11 265
72 6
11 566
77 7
861
845
LIVESTOCK
Livestock slaughter (Federally inspected) :
5QQ
621
627
628
656
719
Calves.
.
thous of animals
586
762
673
813
566
511
550
r g%fi
1,264
1,274
1,207
1,217
1,407
Cattle
.
do
1 312
1 346
1 337
1 497
977
877
899
3,831
3,455
3, 653
2,731
Hogs
do
2,948
5 223
5 501
6 254
3 978
3 574
3 746
3 562
3 343
1,355
1,329
1,253
1,280
Sheep and lambs
'
do
1,458
1 697
1 451
1 347
1 471
1 209
1 175
978
1 045
Cattle and calves:
2,154
2,435
2,384
2,259
Receipts, principal markets.-. thous. of animals.
3,199
3,353
2,233
2,028
2,617
1,680
1. 485
1, 898
1,878
100
198
157
120
395
Shipments, feeder, to 8 corn belt Statesf
do...
321
621
145
103
54
59
82
117
Prices, wholesale:
q-t oo
27.85
24.06
29 54
25.87
Steers beef (Chicago)
dol. per 100 Ib
29 08
28.84
29 52
29 82
29 16
26 71
26 43
28 43
21.11
21.33
21.22
21.91
Steers, stocker and feeder (Kansas City). ..do
21.65
21.32
20.96
23.59
26.31
26.62
24.15
25.57
27.60
22.94
23.63
22.63
24.00
Calves, vealers (Chicago)
do
95 75
98 Qfl
9.5 R5
26. 75
97 Oft
25.81
29. OR
25. 38
24.30
p
Revised. l No quotation. 2 December 1 estimate.
4
* Includes old crop only; new corn not reported in stock figures until crop year begins in October and new oats and wheat until crop year begins in July. June 1 estimate, oats, spring wheat,
§ Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-Ecbruary 1945 will be published later. The unit of measurement
for wheat flour exports was erroneously shown as thousands of bushels in the August 1947 Survey and earlier issues; the figures have been shown in thousands of barrels in all issues.
1 The total includes wheat owned by the Commodity Credit Corporation stored off farms in its own steel and wooden bins i^ot included in the break-down of stocks.
T Revised series. The indicated grain series have been revised as follows: Crop estimate for oats, 1932-44, and rice, 1937-4<i; other crop estimates, 1929-44; domestic disappearance of wheat
and stocks of wheat in country mills and elevators, 1934-44; corn, oat and wheat stocks on farms and total United States stocks of domestic wheat, 1926-44; all revisions are available on request
See p. S-27 of the August 1943 Survey for revised figures for 1941-42 for feeder shipments of cattle and calves.
®Data for June 1947 and previous months were reported by approximately 1,100 mills believed to account for about 98 percent of the industry; later data are estimates for these mills
based on monthly reports of 425 mills with a daily 24-hour capacity of 401 sacks or more of flour,
t Data include Army civilian supply shipments (see note marked "§" on p. S-20).
SURVEY OF CURRENT BUSINESS
July 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-29
1948
1947
May
August
July
June
September
October
November
December
January
February
March
April
May
FOODSTUFFS AND TOBACCO—Continued
LIVESTOCK—Continued
Hogs:
Receipts, principal markets
thous. of animals..
Prices:
Wholesale, average, all grades (Chicago)
dol. per lOOlb..
Hog-corn ratio f
bu. of corn per 100 Ib. of live hogs_.
Sheep and lambs:
Receipts, principal markets thous. of animals..
Shipments, feeder, to 8 corn belt Statesf
do
Prices, wholesale:
Lambs, average (Chicago)
dol. per 100 lb_.
Lambs, feeder, good and choice (Omaha) -do
2,270
2,329
2,206
1,774
1,942
2,305
3,303
3,771
3,272
2,305
2,309
2,462
2,660
22.24
22.06
22.11
23.74
26.66
27.81
24.96
26.31
26.71
22.25
21.40
19.79
20.15
14.4
12.6
11.7
11.1
11.3
12.4
11.1
10.5
10.9
11.2
10.3
9.4
9.1
1,713
128
1,982
134
1,677
166
1,688
283
2,452
556
2,871
677
1,833
393
1,587
131
1,428
81
1,255
64
1,259
65
1,211
69
1,382
106
21.62
0)
24.26
0)
22.75
0)
20.25
21.31
22.50
22.60
22.62
21.05
22.75
20.98
24.08
20.53
25.00
21.78
23.00
20.44
21.50
19.47
24.00
21.61
28.75
22.67
91
1,625
797
67
63
1,490
772
69
52
1,509
743
67
62
1,289
636
59
81
1,356
506
56
62
1,556
480
51
52
1,740
635
58
39
1,918
980
71
35
1,762
1,130
74
41
1,323
1,168
71
69
1,299
1,097
67
25
1,197
'990
'56
1,228
852
53
49
MEATS
Total meats (including lard):
Exports§J
...mil. of lb_.
Production (inspected slaughter)
do
Stocks, cold storage, end of month (8>cf- __.do
Edible offal®
do
Miscellaneous meats and meat products®
mil. oflbBeef and veal:
Exports§J
thous. of Ib
Price, wholesale, beef, fresh, native steers
(Chicago)
dol. per lb_Production (inspected slaughter)
thous. of lb__
Stocks, cold storage, end of month (gx^
do
Lamb and mutton:
Production (inspected slaughter)
do
Stocks, cold storage, end of month <g>d"
do
Pork including lard, production (inspected
slaughter)
thous. of lb_Pork, excluding lard:
Exports^
--'- do.
Prices, wholesale:
Hams, smoked (Chicago)©--dol. per lb__
Fresh loins, 8-10 Ib. average (New York). do
Production (inspected slaughter)
thous. of lb_Stocks cold storage, end of month <8>c?- --do
Lard:
ExportsSf
do
Price, wholesale, refined (Chicago).. -dol. per l b _ _
Production (inspected slaughter)
thous. of lb_.
Stocks, cold storage, end of monthd"
do
POULTRY AND EGGS
Poultry:
Price, wholesale, live fowls (Chicago). -dol. per lb_.
Receipts 5 markets
thous. of Ib
Stocks cold storage, end of month cT_ __ _ _ d o _ _
Eggs:
Dried, production*
do
Price, wholesale, U. S. standards (Chicago)*
dol. per doz__
Production!
millions
Stocks, cold storage, end of month :d"
Shell
thous. of cases
Frozen
thous. of lb_.
'62
50
40
36
29
27
31
42
50
34, 072
28, 532
18, 424
15,263
23, 898
8,400
5,983
2,360
1,389
.376
705, 739
144, 538
.408
670, 038
114, 568
.434
702, 877
101, 732
.469
650, 486
106, 179
.482
749, 027
92, 781
.466
792, 883
112,290
.466
707, 751
151, 856
.468
709, 306
196, 252
.479
698,314
193, 316
60, 183
9,563
54, 823
9,348
53, 172
8,085
52, 007
7,837
60, 043
6,645
69, 891
11, 893
60, 790
17, 280
61, 943
20, 317
758, 646
756, 848
753, 173
586, 369
547, 045
683, 312
15, 079
4,651
1,955
4,651
2,905
2,412
3,228
2,400
1,756
.654
.531
561, 155
364, 531
.572
.529
556, 305
352, 814
.598
.552
550, 620
331, 746
.641
.593
438, 482
264, 124
.664
.622
417, 926
195, 896
.589
.564
539, 982
187, 971
.551
.480
759, 222
304, 851
.577
.456
867, b96
527, 159
28, 728
.198
144,207
148, 663
22, 007
.165
146, 690
175, 269
23, 041
.182
148, 100
193, 736
34, 804
.176
108, 114
162, 565
43, 420
.232
94, 015
125, 579
38, 286
.285
111,619
90, 437
33, 522
.302
154, 639
73, 377
.275
33,063
187, 717
.244
34, 800
171, 260
.240
40, 474
174, 627
.235
37, 316
183, 024
.242
51, 774
205, 653
.236
61, 637
277, 870
.216
78, 087
317, 112
14, 014
14,163
9,113
1,324
184
226
330
162
552
.409
6, 129
.414
5,202
.434
4,539
.422
3,832
.450
3,383
.464
3,457
.455
3,291
.517
3,746
.441
4,338
3,452
202, 245
4,203
237, 303
4,268
241, 573
3,807
234, 434
2,804
216, 762
1,818
189, 596
824
164, 673
196
138, 192
269
122, 438
r
70
'68
9,165
1,050
.419
541, 914
178, 541
.436
563, 238
154, 411
.468
527, 314
120, 898
.500
503, 226
103, 821
60, 107
19, 294
55, 859
16, 971
55, 049
14,890
47, 601
' 9, 106
42, 039
8,288
971, 957 1, 147, 168 1, 003, 276
724, 834
680, 771
621, 675
682,325
3,216
3,430
1,794
.612
.482
745, 581
659, 309
.538
.471
531,423
700, 114
.561
.523,
506, 096
661, 399
.569
.536
473,317
r
606, 827
.576
.545
514, 718
584, 973
23, 210
.290
204, 084
113, 286
23, 143
.292
188, 171
133, 513
25, 544
.239
141, 384
137, 416
47, 530
.238
127, 736
129, 028
16, 328
.250
108, 165
' 138, 924
.243
122, 340
152,634
.240
68, 856
317, 463
.265
28, 083
293, 640
.260
22, 385
262, 374
.280
25, 275
205, 745
.298
26, 614
' 153, 424
.292
31,221
118,391
1,029
1,781
3,213
5, 541
.434
4,723
.432
6, 093
.429
6,304
.410
5,992
374
120, 665
1,165
143, 253
65
1,467
r
3, 091
' 195, 954
4,896
250, 797
MISCELLANEOUS FOOD PRODUCTS
43,684
52,005
36, 258
61, 994
84, 539
42, 059
73, 802
63, 089
65, 094
46, 075
76, 085
56, 189
67, 698
Candy, sales by manufacturers
thous. of dol_.
Cocoa or cacao beans:
18, 859
20,376
13, 627
18, 415
12, 645
19, 598
32, 147
31, 858
12, 625
39, 151
17, 513
17, 460
Imports^
long tons.327
.282
.301
.345
.436
.495
.404
.394
.430
.332
.436
.510
.354
Price, wholesale, accra (N. Y.)§
dol. per lb_
Coffee:
912
756
1,057
1,412
1,452
1,433
1,285
1,220
1,570
1,605
1,550
1,595
1,413
Clearances from Brazil, total
thous. of bags.564
225
545
1, 018
1,089
903
1,117
742
1,173
760
1,138
1,118
979
To United States
do
1,069
973
2,055
776
1,870
1,153
1,884
1,884
1,211
1,515
2,157
1,818
Imports §
- do
Price, wholesale, Santos, No. 4 (New York)
.253
.237
.264
.256
.270
.272
.266
.264
.272
.264
.268
dol. perlb..270
.266
1,222
1,132
1,288
1,056
1,000
1,144
1,128
1,183
1,369
1,111
1,110
948
952
Visible supply, United States
thous. of bags_.
Fish:
34, 868
45, 805
47, 716
57, 437
31, 361
53, 707
59, 746
18, 227
26, 164
Landings, fresh fish, 4 ports
thous. of Ib
44, 185 r
28, 519
79, 733
90, 158
110, 611
140, 070
135, 870
112, 046
142, 102
132, 930
90,491
133, 844
Stocks, cold storage, end of month
do
85, 601
68, 268
76, 743
Sugar:
Cuban stocks, raw, end of month^
r
3,642
2,991
3, 841
2,591
1,121
1,645
2,238
455
813
thous. of Span, tons..
215
2,911
3,810
3,134
Onited States:
Deliveries and supply (raw value): *
902, 939
826, 310
' 522, 779 998, 180
740, 720
343, 020
586, 012
800, 184
552, 391
388, 071
378, 341
557, 475
572, 746
Deliveries, total
short tons
778, 978
337, 591
887, 347
'r484, 416 986, 411
792, 920
730, 790
580, 194
553, 807
382, 930
366, 5.75
565, 503
For domestic consumption
do
557, 910
5,429
15, 592
47, 332
38, 363
11, 769
7,264
5,141
5,818
9,930
11, 766
4,481
7,243
For export
do
3,668
Production and receipts:
544, 243
459, 202
605, 075
465, 489
655, 186
719, 956
359, 259
384, 783
443, 968
81, 968
Entries from off-shore areas
do
445, 309
566, 627
512,510
634, 233
132, 019
34, 590
144, 172
636, 444
86, 749
38, 992
16, 512
68, 262
485, 709
Production, cane and beet
do
25, 260
59, 875
(2)
Stocks, raw and refined, end of month
r
1, 605
911
861
1,106
1,148
1,001
thous. of short tons..
1,904
1,407
1,808
1,950
1,782
1,843
1,880
ember 194(5 are not t trictly cornparable vnth earlier data; figu re for Nov rniber 1946, comparalDie with la ter date is $0.545.
' Revised. 1 No quotation. ©Prices since Nov
2
r
January- April 1948 total, including corrections fc months ]3rior to Af )ril, 248,372 tons; corr ected mon bhly figure 5 are not a vailable.
ill
§ Data continue series shown in the 1942 Supplement but suspended during the war period; unpublished data beginning October 1941 will -U- _ U _
be shown later.
cfCold storage stocks of dairy products (p. S-27) meats, poultry, and eggs include stocks owned by the U.S. Dept. of Agriculture and other Government agencies, stocks held for Armed
Forces stored in warehouse space not owned or operated by them and commercial stocks; stocks held in space owned or leased by the Armed Forces are not included.
<8>See note in May 1946 regarding changes in the indicated series made in that issue and an earlier change beginning June 1944.
• Data are from the U. S. Department of Labor. Quotations since July 1943 have been for U. S. Standards; they are approximately comparable with earlier data for fresh firsts.
1 For data for December 1941-July 1942 see note in November 1943 Survey.
*New series. Data for 1927-43 for dried eggs are on p. 20 of the March 1945 Survey. See note in April 1945 Survey for description of the new sugar series.
fRevised series. The hog-corn ratio has been shown on a revised basis beginning in the March 1943 Survey; revisions for 1913-41 will be shown later. See p. S-27 of the August 1943 Survey
for 1941-42 revisions for feeder shipments of sheep and lambs and p. 24 of June 1947 issue for 1940-45 revisions for egg production.
JData include Army civilian supply exports (see note marked "§" on p. S-20).
SURVEY OF CURRENT BUSINESS
S-30
July 1948
1948
1947
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
May
June
October
July
November
December
Janu-
ary
Febru-
ary
March
April
May
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS— Con.
Sugar— Continued
United States— Continued
Exports refined sugar §c?
short tons
Imports: §
Raw sugar, total
do
From Cuba
do
Refined sugar, total
_
_ _
do
From Cuba
do
Receipts from Hawaii and Puerto Rico:
Raw
do
Refined
- - do
Price, refined, granulated, New York:
Retailt
dol. per lb__
Wholesale
do __
Tea imports S
thous of Ib
TOBACCO
Leaf:
Exports incl scrap and stems $c? thous. of Ib
Imports incl scrap and stems §
do
Production (crop estimate)
mil. of Ib
Stocks, dealers and manufacturers, total,
32, 146
16, 730
29, 602
18, 451
8,222
15, 191
8,914
20, 151
4,237
5,544
9,305
3,936
300, 783
300, 782
45, 964
45, 964
360, 344
360, 344
61, 226
61, 226
388,185
388, 184
34, 940
34, 940
346, 484
346, 484
33, 889
33, 889
257, 629
257, 626
13, 009
13,009
275,544
275, 543
23, 477
23, 477
283, 839
282, 514
7,204
7,204
384, 959
341, 283
7,497
7,497
60, 784
33, 910
2,844
2,083
274, 977
251, 187
26, 709
24, 782
384, 684
363, 978
26,295
25, 711
210, 620
204, 965
51, 232
49, 787
182, 956
23, 795
234, 111
3,162
180, 095
16, 655
222, 067
10, 227
214, 590
4,750
169, 957
6,550
77, 752
2,000
33, 106
3,000
27, 308
4,628
63, 903
6,473
92, 002
25, 866
.095
.081
2,508
.096
.081
4,826
.095
.081
3,438
.095
.082
1,275
.098
.082
4 597
.097
.082
5,487
.098
.082
6, 665
.098
.082
5,429
.098
.080
7,863
.093
.077
7,105
.093
.076
6,491
.093
.076
12, 079
23, 102
4,848
39, 156
5,624
30, 396
5, 592
28, 724
5,258
47, 802
5 864
59, 406
6,720
40, 905
5,808
46, 014
4,007
2 2, 108
23, 601
7,713
33, 601
5,725
19, 194
7,153
27, 786
7,075
3,187
,
Manufactured products:
Consumption (withdrawals):
Cigarettes (small):
2,966
Tax-free*
-millions, .
25, 068
Tax-paid
do
473, 968
Cigars (large) tax-paid
_ thousands
Manufactured tobacco and snuff, tax-paid
16,111
thous. of lb_1,094
Exports cigarettes §c?
- -- millions
Price, wholesale (list price, composite) :
6.509
Cigarettes, f.o.b., destination
dol. per thous.Production, manufactured tobacco, total
16,473
thous of Ib
295
Fine-cut chewing
do
1,979
plug
do
3,081
7,576
Smoking
do
3,198
SnufT
- - do
344
Twist
do
3,800
3,812
338
216
2 633
3
318
210
3,114
3
351
287
3,015
3
36
122
do
do
do
3,334
370
243
2,413
3
Domestic:
Fire-cured and dark air-cured
Flue-cured and light air-cured
Miscellaneous domestic
Foreign grown:
vulgar ied.1
r
34
110
32
123
.092
.075
30
127
2,269
29, 097
432, 527
2,333
29,549
439, 108
2,528
29, 060
466, 511
2,706
29, 204
483, 288
3, 527
33, 237
587, 880
. 2, 536
27, 333
495, 401
2,997
24, 799
446, 719
3,213
27, 278
461, 398
3, 578
23, 349
460,141
3,197
29,154
470, 099
2,422
32, 036
449, 504
2,363
28, 498
444, 491
18, 792
2,294
21, 008
1,619
22, 184
1,685
24, 706
1,937
25, 909
2,107
18,144
1,860
15, 683
2,140
19, 587
2,000
18,071
2,365
20, 222
2,349
21, 821
1,417
19, 024
6.509
6.509
6.509
6.509
6.509
6.509
6.509
6.509
6.509
6.509
6.509
6.509
18, 357
326
3,001
3,211
8,500
3,007
312
21, 266
303
4,756
3,467
9,345
2,968
427
22, 629
306
5, 002
3,661
U, 881
3,341
440
24, 233
332
4,892
3,975
10,849
3,719
466
26, 251
366
5,143
4,426
11,683
4,101
533
18, 816
298
3,868
3,465
7,888
2,883
414
17, 283
330
3,221
3,200
6,998
3,130
404
19, 232
363
3,516
3,383
8,017
3,489
464
18, 549
334
3,522
3,183
7,791
3,265
454
21, 055
322
3,910
3,560
8,910
3,879
473
LEATHER AND PRODUCTS
HIDES AND SKINS
Livestock slaughter (see p. S-28).
Imports total hides and skins §
thous of Ib
Calf and kip skins
thous of pieces
Cattle hides
do
Goatskins
do
Sheep arid^ lamb skins
do
Prices, wholesale (Chicago):
Hides, packers', heavy, native steers.. dol. per lb_.
Calfskins packers' 8 to 15 Ib
do
LEATHER
Exports: §
Sole leather:
Bends backs and sides
thous of Ib
Offal including belting offal
do
Upper leather
thous of sq ft
Production:
Calf and kip
thous. of skins
Cattle hide _
.
_
thous. of hides
Goat and kid
thous. of skins
Sheep and lamb
_
_ _ do
Prices, wholesale:
Sole, oak, bendsf
dol. perlb..
Chrome, calf, B grade, black, composite
dol. per sq. ft_.
14, 017
35
51
3,039
2,013
11, 991
27
30
4,283
1,386
17, 490
23
38
3,421
5,410
8,523
28
42
3,076
3,806
8,950
94
29
2,686
946
13. 527
79
142
2,933
1,304
18, 561
82
186
3, 573
2,872
31, 447
102
453
3,649
1,203
58, 027
310
850
3,640
2,709
26, 215
98
187
5,835
2,342
21, 242
76
274
4,226
2,246
17, 266
86
.223
.534
.231
.638
.262
.660
.295
.619
.301
.625
.343
.669
.375
.756
.359
.745
.308
.650
.257
..415
.222
.351
.248
.392
148
59
3,761
169
73
3,183
29
201
2,722
144
245
2,954
135
129
2,674
244
235
3,285
116
95
2,943
52
53
1,970
43
60
2,086
32
116
2,180
19
72
1,789
2,019
1,011
2,473
3,037
2,631
1,049
2,243
3,273
2,472
887
2,131
3,297
2,486
1,069
2,269
2,985
3,169
1,106
2,310
3,363
3,501
1,125
2,638
3,775
3,647
899
2,371
2,878
3,094
937
2,418
3,319
3,001
912
2,405
3,407
2,782
834
2,330
3,188
2,934
.593
.593
.602
.637
.662
.750
.808
.813
.784
.742
.653
.632
.676
1.007
1.069
1.214
1.218
1.203
3 1. 246
3 1. 324
31.324
31.272
31.165
31.042
3 1. 048
31.055
3
r
T
r
818
2, 268
3, 540
2, 892
113
3,510
2,128
.272
.472
25
118
836
2,169
3,416
2,700
LEATHER MANUFACTURES
Gloves and mittens, production, total*
2,286
2,089
thous. doz. pairs. .
6,392
7.428
» 7, 212
504
510
1.676
Dress and semi dress, total
do
1,557
v 1, 453
89
Leather
do
89
v 277
368
334
3
4
21
Leather and fabric combination
do .
v 22
26
•P i 154
418
412
Fabric
do
1 287
1 197
1,776
1,585
Work, total
do _
v 5 760
4,835
5,752
94
Leather.
.do
103
294
273
P277
P 754
221
Leather and fabric combination. _
do
206
761
633
1,461
Fabric
do
1,276
4,697
* 4, 728
3,930
2
' Revised. *> Preliminary. December 1 estimate.
3
Comparability of the data is affected beginning September 1947 by a change in grade for one reporting firm; September 1947 figure comparable with earlier data $1.223.
t See note in March 1947 Survey with regard to a change in the series in January 1946.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later.
* New series. For source and a description of the series for tax-free withdrawals of cigarette? and data beginning July 1943, see p. S-29 of the March 1947 Survey. The series for gloves and
mittens were first included in the May 1946 Survey; see note in that issue; data are collected quarterly only beginning the third quarter of 1947 (figures in the September and December 1947
columns are totals for the quarters).
t Revised series. The price for sole oak leather beginning in the October 1947 Survey is for packers', steers bends, union trim tannery run, vegetable tanning; earlier data will be shown later.
cfRevised to include Army civilian supply exports (see note marked "§" on p. S-20.
SURVEY OF CURRENT BUSINESS
July 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-31
1948
1947
May
June
July
August
September
October
November
December
January
February
March
April
May
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES— Continued
Shoes and slippers:
Exports!
thous. of pairs
Prices, wholesale, factory :cT
Men's black calf oxford
_ _ dol. per pair
Women's plain black kid blucher__ _ __do_ _
Production, total^J
_
thous. of pairs
Shoes, sandals, and play shoes except athletic,
total
_
_
_ _ _ thous. of pairs.
By type of uppers:
All leather
do
Part leather and nonleather
do
Bykinds:f
Youths' and boys'
_
Women's.
Misses' and children'sInfants' and babies'
Slippers for housewear
_
Athletic.
Other footwear
_
__
_
do .
_ do__._
do
do. __
do
_ _ _ do_ _
do
545
414
429
409
358
505
430
486
398
519
450
565
6.00
4.90
36, 404
6.00
4.90
34, 131
6.30
4.90
33, 870
6.50
4.90
38, 982
6.50
4.90
40, 826
6.63
4.90
46, 765
6.75
4.90
37, 982
7.15
4.90
39, 849
7.15
5.70
40 731
7.15
5.70
40, 290
7.15
5.70
' 44, 852
7.01
5.56
39, 426
33, 638
31, 343
30, 875
34, 735
36, 035
40, 098
32, 561
35, 794
37, 899
37, 346
' 41, 502
36, 315
32, 178
1,554
29, 805
1,532
29, 728
1,091
33, 454
1,174
34, 767
1,331
38, 730
1,374
31, 294
1,185
34, 471
1,331
36, 118
1,816
35 130
2,126
38, 972
2,603
34, 292
2,319
9,078
1,373
16, 279
4,389
2,519
2,257
365
144
8,297
1,495
15, 069
4,041
2,441
2,272
301
215
8,053
1,521
14, 768
3,985
2,548
2,512
308
175
8,449
1,607
17, 548
4,271
2,860
3.676
363
208
8,812
1,587
18, 053
4,511
3,072
4,186
395
210
10, 350
1,815
19, 242
5, 277
3,414
5,936
492
239
8,192
1 526
15, 328
4 541
2,974
4 894
351
176
9,306
1,556
16, 693
5,004
3,235
3,539
349
167
9,264
1,397
18, 483
5 350
3,405
2 349
304
179
9,088
1,223
18, 371
5 277
3,387
2 464
298
182
r 9, 951
'1,284
' 20, 372
«• 6, 044
3,851
' 2, 801
'365
9,258
1,254
16, 897
5, 393
3,513
2,591
184
335
185
' 72, 913
' 14, 068
51, 172
173, 460
73, 414
15, 432
50, 158
129, 394
57, 359
11,840
37, 974
142, 761
75, 102
11, 390
55, 022
181, 504
6.60
5.15
56, 858
8, 323
41, 669
145, 949
LUMBER AND MANUFACTURES
LUMBER—ALL TYPES
Exports, total sawmill products§
M bd ft
Sawed timber§
do
Boards, planks, scantlings, etc.§_
_
do
Imports, total sawmill products§
do
National Lumber Manufacturers Association:!
Production, total
_ _ _
mil. bd. ft
Hardwoods
do
Softwoods _.
_
do
Shipments, total
do
Hardwoods.
_ _
do
Softwoods
do
Stocks, gross, end of month, total.
_
do
Hardwoods
_ _
do
Softwoods
do
162, 633
34, 237
101, 014
67, 685
131, 795
21, 339
86, 568
60, 598
131, 226
20, 480
86, 605
73, 073
156,607
22, 692
97, 447
96, 768
125, 140
16, 854
88, 788
118, 356
102, 569
15,018
71, 930
148, 984
109, 799
22, 337
71, 538
128, 161
3,333
695
2,638
3,141
691
2,450
5,409
1,981
3,428
3,139
700
2,439
2,803
596
2,207
5,743
2,085
3,658
3,284
746
2,538
2.897
660
2,237
5,961
2,171
3,790
3,279
796
2,483
3,269
776
2,493
6,048
2,191
3,857
3,256
767
2,489
3,318
741
2,577
6,078
2,217
3, 861
3,325
773
2, 552
3,360
802
2,558
6,040
2,188
3,852
2,917
726
2,191
3,164
779
2,385
5,801
2,135
3,666
2,763
650
2,113
2,844
641
2,203
5,557
2,018
3,539
2,719
682
2,037
2,788
672
2,116
5,739
2,140
3,599
2,480
631
1,849
2,623
697
1,926
5,601
2,074
3,527
3,022
714
2,308
3,020
749
2,271
5,604
2,040
3,564
5,375
10, 175
4,850
4,800
1,500
5,900
11, 375
5,125
4,875
1,775
6,250
12, 225
5,575
5,275
2,050
6,500
13, 325
5,550
5,575
1,950
6,075
13,875
5,825
5,475
2,425
7,150
14, 475
7,150
6,500
3,000
6,050
14, 650
5,550
5,725
2,675
5,975
14, 775
6,150
5,300
3,450
7,575
15, 800
6,300
6,600
3,250
6,600
16, 575
6,250
5,925
3,550
47, 708
43, 122
48, 709
47, 839
7,886
48,444
44, 340
46, 985
45, 435
8,797
59, 663
68, 439
55, 629
53, 579
9,370
57,678
58, 064
57,996
58, 126
8,314
53, 535
60, 195
62,696
60, 800
8,045
61, 549
57, 626
69, 623
66, 697
10, 971
47, 646
52, 751
56, 667
55, 784
10, 704
49,397
51, 135
57, 886
51, 013
16,086
62,057
54, 455
61, 152
61, 894
14, 605
56, 814
58, 129
57, 955
57, 078
15, 482
r
r
3, 035
703
2,332
2,997
738
2,259
5,773
2,008
3,765
3,089
674
2,415
3,077
752
2,325
5,805
1,931
3,874
7,175
17, 350
6,525
6,575
3,650
6,175
17, 575
6,800
6,225
4,275
5,950
17, 225
6,200
5,925
4,475
59, 988
55, 320
64, 991
62, 797
15, 626
64, 784
59, 397
67, 541
65, 226
17, 941
60, 293
60, 819
65, 616
63, 449
19, 654
HARDWOOD FLOORING
Maple, beech, and birch:
Orders, new
_ _
_
Orders, unfilled, end of month
Production.
Shipments
Stocks, end of month
_ _
Oak:
Orders, new _
_
Orders, unfilled, end of month
Production _ _ _ _ _
_ _ _ _
Shipments...
„
Stocks, end of month.
_
M bd ft
do
do
do
do
do
do
do
do
do
SOFTWOODS
Douglas fir:
82, 594
61, 332
Exports, total sawmill products§
M bd. f t _ _
74, 432
74, 521
67, 128
54, 651
68, 225
31, 107
47, 408
45, 946
48, 875
32, 893
28, 014
Sawed timber§
___
do
16, 583
19, 727
14, 578
17, 190
13, 149
7,042
14,015
20. 776
10, 262
13, 398
10, 403
54, 580
Boards, planks, scantlings, etc.§
do
54,705
44, 749
59, 943
49,938
41, 502
24, 065
47; 449
37, 146
34, 860
22, 490
32,548
Prices, wholesale:
Dimension, No. 1, common, 2" x 4" x 16'
62. 865
64.845
62.865
dol. per M b d . f t 62.865
67. 815
67.815
67.815
64.350
67. 815
70.587
64. 350
74. 250
70.042
Flooring, B and better, F. G., 1" x 4", R.
95. 040
104. 940
95. 040
L_ _ _
do! per M bd ft
101. 970
111.870
111. 870
104. 940
111.870
110. 880
116.820
104. 940
116. 078
127. 215
Southern pine:
25, 081
Exports, total sawmill products§
M bd. f t _ .
16, 534
22, 591
21 , 883
8,920
12, 753
7,209
8, 715
6,527
7,738
8,620
7,585
3,623
Sawed timber§
__.
do
2,214
3,444
1, 952
1,472
1,656
1,435
1,402
953
783
1,147
1,392
21, 458
Boards, planks, scantlings, etc.§
do_
14, 320
19, 147
19, 931
7,448
11,097
7,280
5,125
6,955
6,256
7,473
6,193
793
834
981
Orders, newt
mil. bd. f t _ 962
857
860
693
775
797
690
579
778
790
449
641
Orders, unfilled, end of montht-do___
494
570
626
545
573
574
508
501
522
489
474
Prices, wholesale, composite:
Boards, No. 2 common, I" x 6" or 8" x 12't
65. 694
62. 656
67. 978
dol. per M bd.ft.
63. 462
71. 127
73.311
74. 521
78. 316
78. 594
77. 461
77. 728
77. 007
75. 325
Flooring, B and better, F. G., I" x 4" x 12-14'f
132. 148
134. 279
130.910
dol. per M b d . f t _ . 133. 250
138. 150
141. 139
146. 731
149. 273
152.019 r 152. 164
150. 326
150. 326
152.164
954
Productiont
mil. bd. ft—
861
833
878
799
876
676
755
708
827
581
860
894
888
Shipments!
do
789
910
886
S72
721
913
734
724
789
631
797
805
1, 464
1,451
Stocks, end of montht-do
1,500
1,508
1,378
1,341
1,296
1,289
1,301
1,317
1,251
1,352
1,441
Western pine:
543
Orders, newf-do
573
650
599
618
594
534
553
587
i ' 504
441
500
587
273
Orders, unfilled, end of montht
__.do
415
544
490
568
595
604
526
i 5bl
648
654
576
685
Price, wholesale, Ponderosa, boards, No. 3 com54.69
mon, V x 8"_
dol per M bd ft
56. 23
54.36
55.23
59. 01
63.22
61.23
61.68
63.55
66.16
64. 45
66.36
67.66
679
671
Productiont
mil. bd.' ftl"
718
711
676
514
680
517
i '388
384
467
515
588
585
Shipmentst- _
do
645
569
621
614
629
561
i ' 469
481
567
493
426
557
r
933
Stocks, end of montht
do
1,035
1,205
1,132
1,264
1, 264
1,311
1,217 i 1, 136
1,094
1,080
1,102
1,131
West coast woods:
606
531
Orders, newf
_
_
do_. —
632
605
730
694
708
572
687
680
769
622
660
Orders, unfilled, end of month
_
.do
728
689
845
852
804
801
721
659
695
616
675
742
754
672
622
Productiont
do
593
635
689
678
709
575
670
715
630
633
572
675
Shipmentst
do
632
571
455
765
695
795
626
649
618
711
654
634
Stocks, end of montht--do. .
485
534
583
545
599
579
501
442
462 1
482
590
477
550
r
Revised. 1 See note marked t §Data continue series put)lished in t he 1942 Su oplement 1 )ut suspen ded during the war period.
IData include Government shoes not reported separately; t he classific ations by '. dnds were revised in the Octobejr 1947 Sun^ey to incliide all typ es (leather , part leather, and rlonleather
uppers) ; revised data beginning 1944 for these series and additional revision s indicated in note in the Septernber 1947' f Purvey wil be publis bed later, The total 3 for shoes , sandals, etc., and
the distribution by kinds include, beginning May 1947, small amo unts that c annot be d istributed to the all 1eather and part leattler and no nleather cl assification s.
<£Data continue series published in the July 1944 and earlier issues of the Survey; see note in August 1947 Survey for data for June 1944-May 1946 "
1 ( sei
e not mark( d
T
'
£
; "J" above regarding revision of the shoe series and note in February 1946 Survey explaining revision in the Southern pine price series. Data beginning
1 n S, Tu- ?u
January 1946 for the other indicated lumber series (with the exception of Southern pine orders and stocks and Western pine stocks), as published prior to the March 1948 Survey, have been
revised to adjust the monthly series to Census annual production figures for 1946, and there have been unpublished revisions in the earlier data for the lumber series as indicated in notes in the
i the back cover of the February
T
in 2 Oregon counties. Data for
SUEVEY OF CUREENT BUSINESS
S-32
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
July 1948
1948
1947
July
June
May
August
September
November
October
December
January
February
March
April
May
150, 717
150, 054
40, 668
LUMBER AND MANUFACTURES—Continued
SOFTWOOD PLYWOOD
Production*
thous. of sq. ft., Y%" equivalent
Shipments*
do
Stocks, end of month*
.
do _
142, 409
140, 147
35, 424
31. 345
141,980
142,817
139,398
107, 588
102, 042
36, 332
137, 689
37, 036
170, 769
162, 059
43, 973
147, 823
146, 993
38, 070
150,853
145, 370
149, 197
40, 524
159,395
153,017
156, 666
155 878
39, 323
185, 716
184, 443
39, 879
164, 862
162, 975
40, 435
630, 264
26, 702
18, 934
557, 452
14, 701
508, 598
21, 784
15, 245
4,219
516, 777
21,323
468, 180
28, 986
48, 798
15, 803
5,306
2,722
2,584
5,294
2,789
2,505
3,976
5,082
5,875
2,890
2,985
4,064
5,217
2, 640
2,692
2,740
1,161
2,903
4,571
1.196
3,375
2,757
2,686
6,790
8,009
3,019
1,707
9,186
8,687
9,485
8,388
7,057
6,441
0
22, 628
159, 005
31,509
37, 755
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade :§
Iron and steel products (excl. advanced mfrs.):
Exports (domestic), total
short tons
Scrap
do _.
Imports total
do
Scrap
do
r
r
568, 879
10, 717
15, 269
3,917
579, 191
15, 053
14, 953
1,828
4,752
2,384
2,368
4,096
4,826
4,369
4,898
2,460
2,438
4,525
2,764
2,839
3,074
3,089
1,475
3,014
11, 643
12, 499
7, 582
13, 127
14, 069
12,819
13,533
5,895
11,336
11,865
5,367
10, 108
10, 780
657, 924
18, 175
15, 728
2,184
630, 731
29, 579
19, 400
3,410
571, 777
20, 528
21, 733
5,292
2,744
2,548
4,082
1,133
2,949
2,560
2,624
4,067
5,184
10, 981
11, 755
8,438
2,426
650, 980
27, 094
13, 579
2,025
r
614, 823
14, 057
18, 408
6,884
r
3,789
5,149
22,011
45, 672
19, 973
Iron and Steel Scrap
Consumption total*
thous of short tons
Home scrap*
do
Purchased scrap*
do
Stocks consumers', end of month, total*
do
Home scrap*
do
Purchased scrap*
do
1,303
1,257
2,561
2, 265
1,295
1,436
5,484
2,865
2,619
4,489
5,176
2,643
2,533
4,449
1,442
3,007
4,316
1,416
2,901
1,284
2,442
3,936
1,196
2,445
2,772
Ore
Iron ore:
All districts:*
Production
thous. of long tons
Shipments
do
Stocks, end of month
do
Lake Superior district:
Consumption by furnaces.
do _.
Shipments from upper lake ports
do
Stocks, end of month, total
__ _
do _.
At furnaces
do
On Lake Erie docks
_ _ _ do _
Imports§
do
Manganese ore, imports (manganeseq content) §
thou of long tons
6,885
10, 373
17, 618
15, 541
2,078
6,500
11,457
6,608
6,156
12,614
28,440
6,638
6,492
10,685
4,695
7,151
9,785
6,043
6,306
4,432
7,068
5,877
43,010
25, 677
12, 122
33, 896
30, 397
38, 370
34, 065
41, 641
36, 852
576
597
580
573
38, 195
4,816
451
42
44
1,154
654
1,020
562
439
21, 746
19, 594
2,152
479
46
38
56
48
45
1,097
2,783
633
1,038
597
2,711
2,675
913
519
952
551
2,631
2,680
2,669
29, 006
262, 117
75, 488
42, 304
31, 972
248, 798
78, 524
45, 291
26, 591
234, 656
64, 162
40, 733
33, 208
229, 708
62, 395
38, 156
28, 706
218, 276
71, 568
40, 138
40, 105
210, 675
83, 976
47, 706
4,982
4,842
4,507
4,850
4,745
5,254
33.00
33.81
33.50
5,081
33.00
33.81
33. 50
4,810
34.20
35.08
34.70
4,585
36.00
36.00
4,917
4,801
36.00
37.28
36.50
5,228
748
769
887
831
828
769
759
2,764
3,499
4,305
4,789
2,972
1,879
5,528
6,970
1,496
1,481
6,634
4,976
7,677
537
36, 095
31, 749
0
29, 081
25, 205
337
3,216
269
2,262
297
379
17, 125
15, 172
1, 953
403
25
83
50
68
1,066
588
1,064
584
6,656
48
4,346
3,877
19,412
0
16, 022
13, 761
11, 609
22, 058
19, 885
2,173
Pig Iron and Iron Manufactures
Castings, gray iron:*
Shipments, total
thous. of short tons.
For sale
do
Unfilled orders for sale..
do _.
Castings, malleable iron:d"
Orders new for sale
short tons
Orders, unfilled, for sale
_
_ do
Shipments total
do
For sale
-_ do_ _Pig iron:
Consumption*
thous. of short tons
Prices, wholesale:
Basic (furnace)
do1, per long tonComposite
do
Foundry, No. 2, f. o. b. Neville Island*. -do
Production*
thous. of short tons
Stocks (consumers and suppliers'), end of month*
thous of short tons
37.2]
36.50
1,025
591
37.21
36.50
2,803
2,769
2,726
1,169
660
1,051
585
2,691
2,602
39, 940
202, 408
77, 757
44, 042
49, 159
205, 759
77, 744
45, 808
46, 270
209, 447
75, 194
42, 582
43, 921
203, 351
86, 767
50, 017
42, 168
199, 578
80, 602
45, 941
34, 236
191, 553
76, 079
42, 261
4,912
5,057
5,167
4,762
5,049
3,958
36.00
37.32
36.50
36.20
37.53
36.50
38.88
40.28
39.50
5,177
5,128
39.00
40.63
39.50
4,780
39.00
40.63
39.50
5,020
39.00
40.63
39.50
3,840
838
794
799
780
688
2,687
2,782
35, 804
206, 510
72,111
39, 969
5,015
1,024
571
993
556
39.00
40.97
39.50
5,077
Steel, Crude and Semimanufactures
Steel castings:!
141, 068
148, 124
120, 405
148, 358
150, 305
130, 125
116,956
137,457
139, 031
162, 891
142, 434
143, 337
Shipments, total
short tons__ 140, 874
108, 282
85,014
88, 719
114, 896
110, 970
97, 143
111,288
102,913
103, 888
103,779
125, 550
111,616
107, 762
F o r sale, total _ _ _
do
34, 919
22, 584
36, 079
35, 129
25, 835
30, 452
21, 280
32, 967
41, 876
31, 879
28, 850
34, 800
39, 275
Railway specialties
do
Steel forgings, for sale:*
618, 155
630, 925
626, 227
585, 818
593, 660
593, 838
633, 467
662, 579
628, 123
617,247
641, 110
630, 860
623, 620
Orders, unfilled, total
_ do
529, 817
526, 392
495, 947
517, 307
518, 261
492, 808
494, 933
519, 760
544, 058
513, 980
525, 543
523, 319
509, 576
Drop and upset
do
97, 713
99, 835
101, 108
100, 848
98, 905
98, 986
113, 707
114, 143
93,010
118, 521
115, 567
107, 541
114, 044
Press and open hammer
do_ _
92, 352
118, 534
98, 009
115,743
114, 314
103, 740
116, 798
108,804
123, 830
110,446
131,111
116, 676
Shipments, total
. _ _ _ _ _ ._
do
108, 546
69, 639
70,316
85, 729
86, 911
76, 839
91, 228
79,219
80, 761
89, 677
95, 008
79, 651
86, 592
75, 983
Drop and upset
do
29, 685
22, 036
28, 370
28, 857
26, 901
29, 887
29, 585
32, 602
30, 014
30, 084
36, 103
34, 663
Press and open hammer
__ _ _ do
32, 563
Steel ingots and steel for castings:
r
r
r
r
r
r
7,473
7, 242
' 7, 376
7, 570
' 6, 579 '6,991
7, 339
6, 797
6, 978
7,608
6,940
6, 218
Production
_
thous. of short tons. _
7,560
r
98
85
94
95
93
95
91
90
95
97
80
93
95
Percent of capacity t
Prices, wholesale:
.0360
.0329
.0360
.0329
.0329
.0360
.0360
.0368
.0360
Composite, finished steel
___dol. per lb._
.0376
.0376
.0373
.0368
Steel billets, rerolling (Pittsburgh)
45.00
45.00
42.00
42.60
45.00
42.00
45. 00
45.00
dol. per long ton__
45.00 1 r 47.70
50.40
50.40
50.40
.0280
.0250
. 0256
.0250
.0280
.0280
.0280
Structural steel (Pittsburgh)
dol. per lb__
i . 0305
.0280
.0280
. 0293
i. 0305
J.0300
36.95
40.50
29.25
39.88
38.75
30.88
38.90
39.56
39.13
Steel scran (Chicago)
dol. per long ton__
39. 25
39.13
38.95
39.19
1
r Revised.
Specifications for the series were revised in February 1948; however, the January 1948 price on both the new and old basis is $0.0280.
cfSince May 1944 the coverage of the malleable iron castings industry has been virtually complete; see note in the February 1947 Survey for further information.
§Data continue series shown in the 1942 Supplement but suspended during the war period (it should be noted that data for iron and steel are shown in long tons in that volume); data for
October 1941-September 1946 for total imports of iron and steel products and for October 1941-February 1945 for other series will be published later. The 1945-46 data for imports of iron and
steel products shown in the November 1947 Survey and earlier issues erroneously include ores and alloying metals other than ferroalloys.
JFor 1948, percent of capacity is calculated on annual capacity as of Jan. 1,1948, of 94,233,460 tons of steel; 1947 data are based on capacity as of Jan. 1,1947, 91,241,000 tons.
*New series. For data beginning September 1941 for softwood plywood see p. 16 of the September 1944 Survey. For description of the series on scrap iron and steel and 1939-40 data, sea
note marked "*" on p. S-29 of the November 1942 Survey. The series for iron ore, all districts, are from the Department of the Interior, Bureau of Mines, and cover the entire industry, monthly
data beginning 1943 and earlier annual totals will be shown later. Data for 1943-45 for gray iron castings are shown on p. 24 of the January 1947 Survey. For pig iron consumption and stocks
for 1939-40 and a description of the series, see note marked "*" on p. S-29 of the November 1942 Survey. The series on pig iron production is approximately comparable with data in the 1942
Supplement (data in that volume are in short tons instead of long tons as indicated); see p. S-30 of the May 1943 Survey for further information and data for 1941-42. The pig iron price series
replaces the Pittsburgh price shown in the Survey prior to the April 1943 issue. For 1945 data for steel forgings see note on p. S-32 of the March 1947 Survey; data for total shipments, including
shipments for own use, and steel consumed have been discontinued.
tRevised series. Data for steel castings are estimated industry totals; see note on p. S-32 of the July 1946 Survey for comparable figures beginning January 1945.
SURVEY OF CURRENT BUSINESS
July 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-33
1948
1947
May
June
July
A
««^ 1 temper
October
November
December
January
February
March
April
May
METALS AND MANUFACTURES—Continued
IRON AND STEEL—Continued
Steel, Manufactured Products
Barrels and drums, steel, heavy types:®
13,612
14, 370
Orders, unfilled, end of month
thousands. _
' 2, 309
«• 2, 255
Production
-do
p
2, 253
' 2, 312
Shipments
do
21
23
Stocks, end of month _
.
do
Boilers, steel, new orders:?
1,904
1,428
Area
thous. of sq. f t _ _
1,345
1,212
Quantity
number
Cans, metal (in terms of steel consumed):*
Shipments (for sale and own use), total
' 207, 218 ' 232, 618
short tons
' 145, 697 * r168, 070
Food
-do
' 61, 521 64, 548
Nonfood
do
165, 095
193, 281
Shipments for sale
do
r
'756
908
Commercial closures, production*
millions. _
24, 261
25, 058
Crowns, production*
thousand gross. _
Steel products, net shipments:©
5,264
5,442
Total
thous. of short tons. .
561
501
Merchant bars
do
527
535
Pipe and tubes
do __
563
579
Plates
_
.
do
204
205
Rails
___do
1,225
1,274
Sheets
._.
do
142
138
Strip— Cold rolled
. - do
141
150
Hot rolled
do
382
364
Structural shapes, heavy
_
_ _ do
305
308
Tin plate and terneplate
do
425
407
Wire and wire products
__do
13, 255
2,188
2,185
26
12, 340
2,208
2,212
22
11, 294
2,210
2,201
31
10, 946
2,304
2,305
29
10, 450
2,064
2,075
18
12, 461
2,388
2,385
21
12, 191
2,236
2,239
18
11, 889
2,100
2,098
20
11, 528
2,531
2,516
34
1,620
1,563
1,434
1,452
1,245
1,417
1,167
1,331
1,202
1,176
1,388
1,276
1,109
1,103
1,532
1,219
1,677
1,287
216, 530
134, 671
81, 859
181, 414
818
29, 459
202, 537
125, 782
76, 755
169, 987
868
28,002
'
' 309, 629 r 387, 784 r 354, 681
314, 628 r 277, 968
r 235, 476
' 74, 153 r 73, 156 ' 76, 713
344, 236
275, 541
310, 937
••691
••799
'867
27, 377
27, 229
30,019
•• 279, 448 ' 21 3, 904 ' 253, 594
r 193, 638 •• 136, 427 >• 169, 103
' 85, 810 r 77, 477 r 84. 491
240, 670
222, 797
182, 342
r
r
750
963
829
30, 872
32, 869
28, 430
11,471
2,281
2,290
24
r
T
10, 810
2,016
2,017
22
1, 608
1, 340
1,623
1,736
' 207, 726
r
134, 447
73, 279
r
169, 069
1,012
32, 454
208, 587
143, 183
65, 404
164, 636
980
29, 356
888
28, 232
5,321
484
547
563
179
1,314
142
127
362
322
409
4,975
493
480
464
199
1,181
116
131
357
324
335
5,278
534
517
540
190
1,199
136
135
371
336
393
5,119
484
497
495
182
1,224
136.
142
360
304
410
5,682
555
550
589
214
1,343
151
157
399
349
454
5,217
494
534
513
209
1,264
126
137
353
328
400
5,613
521
558
591
211
1,352
134
149
380
370
405
5,410
521
541
530
201
1,384
146
146
334
267
429
5,046
518
519
538
172
1,198
127
136
324
247
396
5,979
560
613
630
206
1,410
158
141
382
393
449
5,096
481
518
528
145
1,310
148
132
302
310
395
NONFERROUS METALS AND PRODUCTS
Aluminum:
Imports bauxite!
long tons
Price, wholesale, scrap castings (N. Y.)
dol. per lb__
Aluminum fabricated products, shipments, total*
mil. of lb_.
Castings*
do
Wrought products, total*
do
Plate, sheet, and strip*
do
Brass sheets, wholesale price, mill
,,dol. per lb__
Copper:
189, 615
173, 706
181, 999
164, 098
163, 480
118, 658
134, 148
133, 995
217, 602
153, 706
217, 907
161, 961
.0667
.0444
.0440
.0600
.0617
.0625
.0625
.0670
.0711
.0725
.0725
.0741
.0815
144.1
37.4
106.8
81.7
.293
124.8
33.0
91.9
70.5
.300
121.7
30.2
91.4
72.1
.296
132.2
30.4
101.8
82.5
.296
155.1
35.9
119.3
98.1
.296
187.1
40.5
146.9
120.4
.296
167.8
34.7
133.2
108.0
.296
175.6
37.5
138.1
110.3
.296
177.5
37.9
139.6
109.7
.296
173.9
38.0
136. 0
105.7
.302
200.9
41.8
159.1
126.7
.302
177.2
38.3
139.0
106.7
.302
167.2
33.9
133.3
101.9
.302
14, 021
19 295
23 272
18 297
17, 254
15 043
22 497 r 18 299 r 18 013
21, 606
14 569
18 337
40. 138
46, 982
44, 045
44, 185
37, 524
52, 527
37, 727
46, 638
36, 802
30, 435
54, 513
41, 596
Imports total §
do
' 0
3,233
4,864
0
2,492
4,115
783
2,825
5,286
3,519
1 251
3,338
For smelting refining and exports
do
36, 905
41, 693
36, 944
46, 982
32, 038
38, 759
34, 005
48, 412
43, 813
30, 435
53, 262
38, 258
For domestic consumption total§
do
25, 099
18, 515
26, 009
22, 346
21, 694
24, 679
32, 993
17, 980
13, 041
18, 796
29 612
26, 620
TJnrefined including scrap §
clo
11, 806
10, 344
17, 014
15,419
18, 964
20, 973
20, 244
15, 209
21, 467
17, 394
11, 638
23, 650
Refined§
do
.2120
.2211
.2120
.2123
.2135
.2120
.2120
.2121
.2120
.2123
.2123
.2120
.2120
Price, wholesale, electrolytic (N. Y.)_.dol. per lb_.
Production:cT
Mine or smelter (including custom intake)
r
91, 275
83, 301
91, 526
72, 534
76, 815
82, 334
82, 959
83,922
79, 152
83, 909
82, 427
88, 741
80, 954
short tons__
104, 524
108, 536
103, 474
97, 525
108, 277
88, 122
92, 146
94, 610
104, 044
110,886
93, 588
102, 314
108, 816
Refinery
do
118, 120
113, 389
96, 374
116, 678
122, 988
106, 823
106, 232
109, 822
112,310
95, 640
118, 855
113, 446
116, 475
Deliveries, refined, domesticd"
_
do. _
84, 560
72, 791
82, 542
68, 582
77, 212
70, 146
66, 622
74, 507
80, 113
77, 773
67, 257
71, 533
76, 035
Stocks, refined, end of monthc"
do
Lead:
18, 113
14, 132
21, 099
23, 058
21 749
27, 416
13, 030
26 718
15 784
20 873
23 706
14 261
Imports total except mfrs (lead content) § do
Ore (lead content):
82, 772
32, 452
32, 512
30, 597
29, 106
30, 618
35, 319
30, 647
33, 306 r 32, 407 r 35, 802
30, 567
Mine production*
do
37, 625
34, 269
32, 271
31, 877
33,688
32,414
34, 185
32, 019
31, 600
33, 780
35, 362
34, 797
32, 081
Receipts by smelters, domestic ore :cf
do
Refined:
Price, wholesale, pig, desilverized (New York)
.1500
.1500
.1750
.1500
.1500
.1500
.1500
.1500
dol. per lb_.
.1500
.1500
.1500
.1721
.1500
53,822
50, 626
46, 409
46, 012
45, 235
51, 481
60,093
43, 598
50, 821
46,827
49, 337
50, 248
49, 652
Production, totalcf
short tons.,
41, 505
49, 984
47, 144
43, 725
47, 903
42, 536
46, 919
43, 545
40, 400
47, 421
46 577
46 579
45 538
Primaryf71
do
51, 989
54, 627
50, 482
47, 652
55, 034
46, 646
43, 483
52, 287
51, 958
56, 247
47, 200
52, 354
Shipmentsd
do
45, 031
19 453
47, 233
37, 836
22, 418
31, 048
31, 290
24, 809
34, 385
20,645
21, 787
28, 370
Stocks, end of monthc?
do
14, 837
17, 034
Tin:
Im ports :§
694
1,409
2,596
1,439
1,745
8,350
Ore (tin content)
long tons
2 137
3 595
2 201
2 566
2,989
3 668
54
443
2,105
3,406
3,429
2,443
Bars, blocks, pigs, etc
. _ _ . _ _ . do_ _
4,653
3,318
2 294
1,539
4,855
6,470
.8000
.8000
. 8000
.8000
Price, wholesale, straits (N. Y.)
dol. per lb_.
.8000
.8000
.9400
.9400
.9400
.8000
.9400
.8539
.9400
Zinc:
27, 216
31, 601
41, 030
29, 364
33, 645
Imports, total (zinc content) §
short tons..
22, 061
19, 140
12, 660
21, 097
22, 617
33, 415
21 663
11, 534
6,367
9,025
562
For smelting, refining, and export§
__do
121
8,430
5,659
10, 392
1,510
5,717
2 070
6,240
For domestic consumption :§
15, 228
26, 406
13, 940
27,295
17, 842
9,160
14, 953
7,958
Ore (zinc content).
do
12, 939
4,498
10, 487
10, 580
6,609
4,839
5,599
3,092
4,321
5,788
Blocks, pigs etc
- - . do
4 581
10 882
10 084
5,598
9 106
5 797
57, 902
60, 879
46, 526
48, 332
Mine production of recoverable zinc*
do
50, 296
47, 700
46, 817
52, 561
47 612 r 54 545
48, 124
47, 790
Slab zinc:
Price, wholesale, prime Western (St. Louis)
.1050
.1050
.1050
dol. per lb_.
.1050
.1050
.1050
.1108
.1050
.1200
.1050
.1200
.1200
.1200
73, 970
69, 128
70, 990
Productionc?
_ _ _ short tons..
66, 852
69, 682
67, 867
71, 745
70 996 r 72 776 r 67 917 r 74 322 r 71 500
73 885
72 151 r 86 000 r 74 697 r 77 334 r 73 gig
92 549
70, 803
63, 527
59, 737
89 314
Sbipmentscf 1
do
129 046
79 789
72 848
52, 390
58, 827
44, 801
Domesticd
. ...
do. _
67 291
57, 564
59 154
52, 122
61 258 r 66 174 r 63 592 r 65 334 r 64 801
50 558
174, 327
166, 864
183, 718
Stocks, end of monthcT
do
79, 273
161, 256
136, 574
44, 253
69, 166
68,011 r 55, 423 r 48^ 643 ' 45', 631 * 43, 216
r
Revised. ® Beginning 1943, data have covered the entire industry.
tit is believed that data beginning 1945 represent substantially the entire industry; in prewar years the coverage was about 90 percent.
OTotal shipments less shipments to members of the industry for further conversion; data prior to 1944 were production for sale.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later. The data shown above for
total imports of zinc and imports of zinc ore, and data beginning March 1945 shown in previous issues, have been revised to correct an error.
cfBeginnmg January 1947 data for copper include copper from all sources; data prior to 1947 published in earlier issues relate to domestic and duty-free foreign copper; stock figure for January
1947, comparable with later data, is 104,704 tons; the November 1947 Survey provides January-March 1947 figures for production, deliveries, and stocks comparable with earlier data; deliveries
include deliveries of Office of Metal Reserve copper for domestic consumption; stocks of Office of Metal Reserve copper are not included in the stock figures. For data for January 1942-April
1944 for these series, and also for the indicated lead and zinc series, see p. 24 of the June 1944 Survey. Total shipments of zinc include for August-November 1947shipments for Government
account in addition to shipments to domestic consumers and export and drawback shipments.
*New series. See note marked " * " on p. S-33 of the February 1947 Survey for description of the data on aluminum fabricated products and reference to 1945 figures for the total; data prior
to 1946 for the detail will be published later. Data for closures, crowns, and metal cans are compiled by the Bureau of the Census and cover all producers; for data for 1943 to 1945 for metal cans
see p. 24 of the December 1947 Survey; revised January-May 1947 data for metal cans (short tons): Shipments, total—174,898, 157,764, 179,912, 204,666; food—129,874, 111,144, 125,395, 139,181;
nonfood—45,024, 46,620, 54,517, 65,485.
Data prior to 1946 for closures and crowns will be shown later. Data for mine production of lead and zinc are from the Department of the Interior,
Bureau of Mines, and are practically complete; monthly figures beginning July 1941 and earlier annual totals will be shown later.
fRevised series. Data shown above and data from the beginning of 1946 in earlier issues include production from both domestic and foreign ore; the 1946-47 data are incorrectly shown in
the October 1947 and earlier issues as production from domestic ore which is no longer reported separately. Some secondary material is included insofar as it enters into base bullion and loses
its identity.
SUEVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
July 1948
1948
1947
May
June
July
August
September
October
November
December
January
February
March
April
May
METALS AND MANUFACTURES—Continued
HEATING APPARATUS, EXCEPT ELECTRIC
Toilers, radiators and convectors, cast iron:§
Boilers (round and square) :
Production
_ _
_ thous. of Ib
Shipments
do
Stocks, end of month
___. .
do
Radiation:
Production
thous. of sq. ft_
Shipments
_
do
Stocks
do
Boilers range, shipments*
number
Oil burners:*
Orders, new, net
do
Orders, unfilled, end of month
do
Shipments
do
Stocks, end of month
_ _
do
Stoves and ranges, domestic cooking, exc. electric:*
Production, total
number. Coal and wood
do
Gas (incl. bungalow and combination) _ _ . do
Kerosene, gasoline, and fuel oil
do
Stoves, domestic heating, production, total* do
Coal and wood*
_ _ _ _
do
Gas*
do
Kerosene, gasoline, and fuel oil* _ _
do
Warm-air furnaces (forced air and gravity air flow),
shipments, total* _
_ _ _ _* number
Gas*
do
Oil*
do
Solid fuel*
do
Water heaters, nonelectric, shipments* _ _ do
29, 528
23, 185
51, 327
25, 838
26, 342
50, 824
20, 506
21,045
50, 285
25, 175
28, 469
46, 991
29,080
30, 464
45, 607
33, 328
37, 194
41, 740
29, 381
31, 372
39, 749
28, 583
28, 583
39, 749
29,043
22,018
46, 774
29, 483
18, 660
57/443
27, 687
13, 867
71,262
14, 113
19, 699
65, 676
22, 745
19, 752
68, 669
4,984
4,746
3,137
64, 415
4,472
4,698
2, 909
55, 220
4,302
4,032
3,179
48, 454
4,073
4,540
2,712
52, 967
4,749
4,786
2, 675
51, 986
5,863
5,980
2,558
56, 357
5,217
5,247
2,528
46, Oil
5,201
5,388
2,341
42, 884
5,376
5,181
2,536
51, 722
5, 138
5,010
2,664
52, 592
5,890
5,485
3,069
58, 908
4,740
4,794
3,015
52, 123
5,172
5,123
3,064
6,505
874, 974
99, 407
15,440
35, 047
804, 680
105, 341
18, 972
1,827
703, 776
102, 731
22, 705
85, 561
666, 705
122, 632
20, 397
37, 582
576, 326
127,961
20, 524
3,127 !-57,449
149, 929
249, 309
41, 859
57, 898
50, 070
36, 466
9,727
134, 631
24, 816
60, 286
8,330
124, 190
18, 797
68, 792
r
6, 110
'r 107, 694
22, 846
* 77, 807
288,178
44. 814
193, 684
4P, 680
415, 789
92,349
160,605
162,835
287, 697
39, 373
202, 954
45, 370
456, 580
90, 728
185, 740
180, 112
256, 785
36, 126
J 79, 647
41,012
489, 945
103,481
197, P21
188, 543
259, 863
36,945
186, 231
36, 687
576, 819
109, 050
232, 693
235, 076
290, 760
35, 631
213,436
41, 693
725,215
142, 698
286, 685
295, 832
331, 756
34, 603
256, 241
40,912
834, 866
169,442
341,498
323 ^26
285, 127
31,323
215, 849
37, 955
661, 592
124,375
304, 379
232, 838
283, 682
30, 635
210, 620
42, 427
596, 999
93, 618
288, 024
215, 357
313, 959
31, 999
227, 602
54, 358
413,637
55, 492
188,248
169,897
331,958
34, 690
235, 438
61, 830
351, 333
53, 734
156, 762
140, 837
372, 459
39, 580
264, 943
67, 936
r 369, 656
' 61, 406
' 155, 828
' 152, 422
342, 630
31, 888
253, 487
57, 255
367, 318
68, 435
156, 461
142, 422
54, 864
9,876
24, 631
20, 357
210, 487
54, £85
9, 669
25, 128
20, 188
192, 372
56, 498 • 80,891
13,563
9, f 69
32, 480
21, 757
25, 172
34, 848
197, 485
217, 953
90, 210
15,214
34, 286
40, 710
210, 360
108,419
19, 632
36, 739
52, 048
229, 307
72, 629
13, 522
27, 791
31,316
185, 932
67, 567
15, 306
28, 324
24,012
174, 704
46, 590
10, 822
16, 354
19, 414
176, 736
36, 345
9,313
7,645
19,387
159,007
39, 297
9,890
8,105
21,302
' 173, 291
45, 600
12, 454
9,934
23, 212
172, 548
1
-4, 421 !-58,225
443, 457
304, 310
128, 448
80, 922
25, 561
20, 541
10, 188
91, 834
26, 048
76, 015
MACHINERY AND APPARATUS
Blowers, fans and unit heaters:
Blowers and fans, new orders
thous. of doL.
Unit heater group, new orders
do
Foundry equipment:
New orders, net, total
-1937-39=100
New equipment
do
Repairs
do_ _
Machine tools, shipments*
1945-47— IQO
Mechanical stokers, sales:*
Classes 1, 2, and 3
.
number
Classes 4 and 5:
Number
_ _
Horsepower.
Pumps and water systems, domestic, shipments:*
Domestic hand and windmill pumps
number..
Water systems, including pumps, total
do
Jet*
do
Nonjet*
do
Pumps, steam, power, centrifugal and rotary, new
orders?
thous. of dol__
Scales and balances (except laboratory), shipments,
quarterly* __
thous. of dol
Sewing machines, heads, production:*
Industrial
number.
10, 286
6,074
8, 452
7,912
11, 628
6,467
10, 985
9 677
548.6
525.9
623. 0
89.2
649.9
658.9
620.7
84.1
458.7
426.1
565. 3
65.2
468.9
411.3
656.8
63.6
455.1
393.1
657.7
77.0
520.0
438.2
786.7
94.8
370.1
286.1
643.1
84.7
521.1
467.8
694.6
98.4
380.9
367.3
326.2
412.0
75.3
87.1
83.6
82.0
5,281
5,851
7,092
9,041
9,838
8,194
3,728
2,492
2,685
4,316
5,090
170
52, 981
270
63, 168
380
81,269
398
97, 752
345
80, 640
273
52, 523
208
51, 603
230
50, 946
168
64,870
24, 746
54, 847
21,115
33, 732
23, 561
57, 854
26, 200
31, 654
21,089
61,668
28, 241
33, 427
26, 555
63, 465
28, 881
34, 584
36, 190
73, 857
32, 185
41, 672
30,183
57, 302
25, 503
31, 799
39, 577
60, 985
27, 922
33, 063
43, 490
61, 005
27, 326
33, 679
3, 355
3,475
2,673
3,480
3,819
3, 635
2,999
11,938
11, 835
3,148
3,843
11,628
6,314
336
92, 642
313
74, 488
27, 676
62, 252
30,048
32, 204
34, 524
58, 192
26, 466
31, 726
2,973
4, 548
249
78, 197
29, 882
55, 188
25, 393
29, 795
26, 804
49, 709
23, 121
26, 588
r
191
68, 150
38, 745
62, 909
29, 581
33, 328
r
388.5
T
4,703
4,312
3,724
12, 628
13, 126
11,575
ELECTRICAL EQUIPMENT
Battery shipments (automotive replacement only),
number*..
_ _
thousands
1,737
1,873
2,073
1,433
2,415
2,854
1,679
2,683
2,254
2,394
2,597
Domestic electrical appliances, shipments:
330, 675 343, 229
293, 465
Vacuum cleaners, total*
number
296, 570
347, 601 r
Floor
_ _
do
' 319, 781 r 327, 250 r 282, 165 ' 280, 366 r 326, 882
358, 546 ' 3£0, 470 373, 254
355, 520
304, 273
311, 342
Hand
do
13, 243
12, 581
1 2, 880
17,333
18,971
Washers*
do
313, 724 314, 705
279, 229
354, 094
281,826
397, 113
351,152
365, 579
398, 298
360, 029
358, 445
Electrical products:!
352
Insulating materials, sales billed
1936—100
361
324
320
350
381
398
345
351
353
Motors and generators, new orders
do
394
308
295
392
Furnaces, electric, industrial, sales:
Unit
kilowatts
3,341
3,586
5,298
4, 465
4,464
3,344
6,378
4,487
2,692
4,083
26, 435
Value
thous. of dol_.
389
308
432
565
354
677
776
1,831
350
550
310
Laminated fiber products, shipments
do
4,150
4,092
4,002
3,619
4,150
4, 205
3,812
4,397
4,162
4,221
4,693
Motors (1-200 h. p.):cf
Polyphase induction, billings
do
32, 668
30, 280
32, 451
32, 622
Polyphase induction, new orders
do
31,849
22, 328
22 871
29, 534
Direct current, billings
do. _
4,821
4, 935
5,834
5,059
Direct current, new orders
do
5,155
4,118
5,790
5 068
Rigid steel conduit and fittings, shipments!
22, 141
22, 218
20, 821
short tons..
19, 745
23, 638
23,664
T
25, 319
22, 336
22, 730
20, 882
23, 194
Vulcamzed fiber:
Consumption of fiber paper
thous. of lb_.
5,086
4,771
4,582
5,124
4,820
5,442
4,852
5,107
5,065
4,532
5,200
Shipments
thous. of dol_.
1,625
1,758
1,425
1,559
1,599
1,731
1,486
1,457
1,461
1,540
1,742
r
Revised. * Preliminary. 1 Cancellations excee ded new 01-ders. 2 D ata not ava liable.
ICovers 33 companies beginning 1947; 31 compani were inc luded for 1945 and 19 *6 and 27 f }r 1944.
es
§See p. 24 of the January 1947 Survey for availabl e data for ] 942-45 for (?ast-iron be)ilers and r adiation; t iese series continue c ata publis bed in the 1942 Suppl ement.
)47
•See notes on the indicated items rm n ff-33 nr R-f 14. of thp RP ntpTnViPr 1 C RnrvPTr fnr crmrr»p anrl r>r»T7ora
r»/%
*t 4-V,«
1,017
r 1, 211
306,
588
279,
831
393, 660
362,
658
4,328
436
4,310
5,166
528
4,118
24,653
22, 415
5,317
1,686
4,925
1,500
A
—~~—<=
,
——
"fc^, ,,^^ ^ L^^^V^, ,,ul,^ ^uu^m, ov.YYiJL.ift ^c^xmico oaivi scales and balances are compiled by the Bureau of the Census and are complete, or practically complete; data for 1943-45 for domestic heating stoves are shown on p. 20 of the April 1947 Survey; data prior to 1946 for the other series will be shown later (data beginning
March 1944 for total shipments of warm-air furnaces are available in the May 1945 Survey). Beginning with this issue, the data on machine tool shipments are shown as an index (1945-47=100)"
based on member reports of the National Machine Tool Builders' Association, which are estimated to account for approximately 90 percent of total industry shipments For data beginning
August 1942 for automotive replacement battery shipments, see p. S-31 of November 1943 Survey.
'
tBevised series. See note in February 1947 Survey regarding unpublished revisions in the indexes of new orders for motors and generators and sales of insulating materials; the index for
motors and generators is now computed on a quarterly basis and represents quarterly totals. Data on rigid steel conduit and fittings were revised in the July 1946 Survey (see note in that issue).
SURVEY OF CURRENT BUSINESS
July 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-35
1948
1947
May
June
July
August
September
October
November
December
February
January
March
May
April
PAPER AND PRINTING
PULPWOOD AND WASTE PAPER
Pulp wood:*
r
1,850
1,778
1,734
1,675
1,714
1, 762
1,589
1,605
1,744
1,589
1,559
1,634
Consumption
tbous. of cords (128 cu. ft.)__
1,679
1,664
1,893
1,646
1,958
1,465
' 1, 580
1,813
1,613
1,826
1,908
1,683
Receipts
_ _ _
do _1,480
1,901
4,405
' 4, 607
4,790
4,646
Stocks, end of month
do
4,795
4, 567
4,736
4,698
4,566
4,437
4,161
3,816
3,767
Waste paper:*
654, 671
704, 677 r 684, 277
674, 747
684, 375
*
638, 318
650, 690
607,061
693, 879
Consumption
_
short tons
618,324
625, 971
635, 597
648, 768
687, 267 654, 257
718, 411
629, 114
595,355
735, 250
643, 222
615, 155
614,143
633, 122
638, 505
656, 684
697, 152
Receipts
_
__do_ _
441, 335 ' 443, 742 442, 640
458, 366
462, 248
482,392
429, 676
521, 019
512, 880
467,651
481,911
473, 917
514, 039
Stocks
do _
WOOD PULP
7,244
4,906
13, 358
7,951
11, 807
14, 161
Exports, all grades, total §
- _ do_ __
6,396
16, 090
11, 603
11, 109
8,278
10, 334
275,187
208, 180
215, 851
195, 884
225, 807
171, 010
187, 293
186, 631
175,067
Imports all grades total§
do
227, 246
210, 216
188, 053
26, 250
19, 886
28, 527
20, 133
19, 988
Bleached sulphate §
_ _ _-do_ _
20, 898
22, 302
18, 420
24, 835
23, 009
21, 301
17, 008
53,044
75, 965
28, 669
Unbleached sulphate §
do _
38, 667
45, 033
26, 148
38, 625
36, 470
46, 816
42, 907
48, 938
37, 060
53, 098
48, 678
Bleached sulphite!
_ _ _ _ _ _-do_ _
43, 502
58, 216
42, 375
44, 037
45,672
40, 330
36, 541
53, 458
49, 427
40, 544
84, 872
75, 229
59, 488
Unbleached sulphite§
do _
58, 770
64, 078
89, 143
54, 996
89, 065
51, 410
66,043
56, 602
53, 939
2,414
1,804
1, 719
1,864
1, 592
1,692
1,674
1,884
1,959
2,293
1,929
2,075
Soda§
do_-_
23, 863
27,004
30, 921
25, 000
Groundwood§
_ do _
29, 856
25, 123
26,993
25, 267
24, 711
27,373
17, 455
19, 548
Production :f
r
935
1, 086
1,040
Total, all grades
_ thous. of short tons_
1,127
975
1,026
995
1,054
1, 081
961
1,080
1,022
970
102, 641
92, 058
Bleached sulphate
short tons. r r 92, 796
105, 190 '102,841
91,569
92, 335
107, 369
98, 415
90, 141
103, 347
95,088
93, 744
Unbleached sulphate
do
413, 200
390, 188 ? 384, 106
331, 275
354, 853
365, 640
373, 277
332, 597
374, 438
321,089
333,030
365, 355
356, 488
162, 482
142, 436
164, 791
168, 923
Bleached sulphite
_ _ do_ _
164, 244
161,922
152, 426
161, 535
155, 379
172, 429
154, 960
157, 233
163, 508
r
r
64, 268
79, 453
Unbleached sulphite
do
75, 857
80, 127
82, 206
78, 176
74, 753
76, 291
73, 518
76, 564
76, 586
80, 272
77, 186
38,345
42, 598 ' 43, 119
43, 324
44, 385
41,668
Soda
_
do_ _
43, 933
40, 182
41,696
39, 762
43, 840
40, 881
42, 218
160, 507
173,802
Groundwood
do
184,506
170, 230 ' 184, 129 191, 152
161, 067
161,047
153, 488
176, 593
161, 635
170, 080
168, 859
62, 000
Defibrated, exploded, etc If
- do_ _
82, 366
81, 388
69, 718
67, 096
81, 521
79, 051
64, 664
79, 974
69,080
66, 877
75, 000
75, 041
Stocks, end of monthrf
r
96, 601
95, 786
89, 211 ' 96, 598 105, 143
99,834
103, 598
Total all grades*
do
93, 244
94,121
91, 271
109, 968
94,543
98, 928
r
5,259
7,079
Bleached sulphate
_ _ do
4,439
6,464
7,320
7,108
7,665
6,316
5,886
6,089
7,558
5,508
7, 127
7,545
Unbleached sulphate
do
6,311
9,815
8,050
8,067
9,637
12, 084 T 10, 553
11, 786
11, 551
10, 032
10, 507
13, 270
r
23,952
26, 295
Bleached sulphite
_
_ _ _
do_ _
31, 604
23, 329
22, 543
37, 308
27, 475
28, 933
30, 525
36, 547
30, 288
22, 317
42, 846
r
14, 143
Unbleached sulphite
do _
15,332
13, 527
16, 401
14, 652
18, 452
16, 982
16, 103
16, 869
14, 427
14, 764
14, 566
17, 716
r
Soda
do
2,858
2,709
2,895
3,102
3, 363
3,073
3,020
3,454
3,325
2,771
3, 362
3,033
3,492
38, 725
Ground wood
do_ _
21,615
35, 452
24, 776
31, 551
39, 626
20, 368
38, 325
18, 193
23, 660
22, 316
21, 702
* 32, 460
PAPER AND PAPER PRODUCTS
All paper and paperboard mills:*
Paper and paperboard production, total
thcus. of short tons.
1,625
1,834
1,763
1,866
1,728
1,743
1,907
1,720
1,898
1,930
1,701
1,777
' 1, 908
Paper
_ do _
892
817
930
894
883
960
949
873
956
958
877
898
••953
Paperboard
do
751
805
767
708
808
740
742
827
854
718
827
767
••843
Building board
_ do_ _
101
121
109
105
95
99
110
105
105
115
111
117
'112
Paper excl. building paper, newsprint, and paperboard (American Paper and Pulp Association):!
Orders new
short tons
664, 872
714, 296
795, 400
714, 929
687, 500
702, 200
758, 830
751, 536
731,808
694,795 ' 792, 251 r 747, 604
697, 825
Production
do_ _
719,979
653, 710
752, 028
779, 406
702, £81
714, 440
733, 484
776, 549
719,036 ' 782, 537 ' 774, 486 774, 565
732, 765
Shipments
do
648, 003
745, 783
772, 645
727, 183
728,869
693, £66
711,061
778, 752
761, 475
721, 572 r 774, 310 r 771, 049
729, 868
Fine paper:
Orders new
_ _ do_ _
91, 204
102, 765
94, 838
98,017
90, 189
112, 679
89, 886
109, 851
90, 130
82, 720
89,977 r 107, 673 T 95, 272
Orders, unfilled, end of month
do_-_
144, 032
143,020
150, 260
136, 927
122, 825
149,790
102, 350
112, 523
138, 850
121, 422
121, £40 '•I 25, 073 r 121, 170
Production
_
_ _ do _
103, 610
90, 227
101,311
107, 558
101, 775
103,495
111,114
107, 304
107, 125
101, 954
97, 654 r 105, 927 r 104, 806
Shipments
do
86, 642
105, 582
108, 076
100, 289
98, 680
95, 773
111,732
108, 315
108, 870
96,009 r 104, 313 ' 104, 037
101, 168
Stocks, end of month
_ _ _ _ _ _^do
52, 720
50, 530
53, 782
50, 448
52, 120
54, 234
51, 770
52, 915
56, 775
54, 385 * 55, 237 T 56, 585
53, 705
Printing paper:
234, 580
Orders new
do
260, 602
249, 259
242, 080
277, 581 .249, 016
252, 172
274, 725
280, 132
252, 829
238, 218 r 278, 425 ' 254, 972
r
Orders, unfilled, end of month
_
do_ _
266, 490
269, 159
279, 900
275, 565
299, 893
269, 004
254,943
263, 383
254, 602 r 256, 187
267, 430
245, 738 264, 775
Price, wholesale, book paper, "B" grade, Eng10.24
lish finish, white, f. o. b. milL.dol. per ICO lb._
10.55
10. 80
10.05
10.05
10.80
10.80
1.080
10.80
10.80
10.80
10.80 r 10.80
236, 295
Production
~
short tons
250, 563
248, 796
264, 444
245, 916
275, 837
257, 843
261, 240
269, 194
257, 210
250, 387 ' 267, 467
263, 638
Shipments
do
236, 838
253, 331
249, 975
260, 420
243, 486
275, 689
261, 724
257, 736
251, 888 r 263, 762 r 258, 946 251, 060
265, 557
Stocks, e n d o f month
_ _ _ _ _ _ do_ _
59, 512
62, 070
62, 096
62, 861
63, 163
62, 782
63, 745
78, 870
66, 036
67, 470 ' 68, 042 r 70, 370
66, 078
Coarse paper: t
228, 912
233, 647
242, 126
238, 828
238, 230
Orders new
do
264, 665
245,517
241, 042
241, 272 ' 268, 636 r 260, 567 257, 000
268, 523
152,605
Orders, unfilled, end of month
do_ _
149, 995
143, 327
155, 539
158,747
159, 550
155, 245
132, 150
149, 956
150,610 r 145, 093 r 136, 093
158,730
222, 588
247, 641
244, 373
250, 239
233, 482
Production
_ __.
_
_ _
do
258, 098
245, 463
249, 895
242, 667 ' 268, 999 r 265, 504 265, 475
265, 386
220, 637
241, 498
248, 616
Shipments
do
250, 406
230, 171
260, 401
245, 741 ••267,015 r 268, 628 262, 475
244, 540
247, 650
262, 416
Stocks, end of month _..
_ _
do
60, 187
58, 190
53, 420
60, 330
60, 263
57, 886
59, 931
'62,595 T 62, 890 r 57, 810
60, 050
60, 756
63, 276
Newsprint:
Canada:
Production
__
do
379, 731
384, 520
366, 092
377, 941
355, 606
396, 251
368, 925
344,645
364, 483
388, 461
387, 672
371, 637
385, 606
Shipments from mills
do
379, 065
400, 763
379, 460
388, 106
375, 498
389, 505
369, 986
332, 211
393, 169
397, 706
346, 870
380, 732
380, 843
Stocks, at mills, end of month .
do
91, 097
110, 323
90, 431
67, 564
80, 932
74, 310
84, 222
81, 764
45, 624 » 44,563
88, 704
69, 330
93, 467
United States:
Consumption by publishers
do
302, 994
292, 664
263, 698
339, 286
281, 102
299, 807
338, 012
322, 136
307, 967
292, 534
348, 823
338, 337
342, 572
353,081
355, 605
315, 932
328, 747
349, 134
Imports!-.
- - do_ _
357, 998
314, 364
293, 801
389, 907
320, 564
398, 283 r 349, 649
Price, rolls (N. Y.)
dol. per short ton__
90.00
90.00
90.00
90.00
90.00
90.00
90.00
90.00
96.00
96.00
9.600
96.00
96.00
Production
short tons_.
67, 656
72, 253
67, 268
73, 498
70, 732
70, 507
66, 475
65, 880
58,016
72, 659
65, 094
64, 894
69,371
Shipments from mills _
do
68,955
70, 897
73, 545
69, 326
66, 743
70, 168
66, 439
68, 720
59,019
65, 037
71, 553
65, 943
69, 199
Stocks, end of month:
At mills
___
do
10, 652
11, 951
11, 105
12, 397
11, 833
11, 426
11, 141
8,301
7,355
6,306
7,584
8,358
6,478
At publishers
do
212, 724
278, 918
312, 573
228, 793
308, 033
295, 385
279, 631
292, 920
282, 202
295, 052
267, 958
274, 453
268, 665
In transit to publishers
do
68, 401
64, 985
84, 009
83, 957
77, 150
71, 664
84, 113
89, 755
90, 864
89, 132
75, 785
89, 083
88,644
Paperboard (National Paperboard Association) :f
Orders, new
_
short tons
736, 454
721, 312
760, 236
812, 849
788, 601
720, 388
747, 159
756, 818
711, 294
826, 946
894,310
791, 201
790, 215
Orders, unfilled, end of month
do
494, 554
511, 918
461, 226
425, 412
436, 178
437, 550
452, 124
420, 456
432, 911
423, 510
464, 683
352, 013
397.407
Production
do
805, 744
768,412
709, 956
742, 124
750,042
823, 203
741, 337
752, 036
713, 394
813, 169
861, 215
821, 795
824, 155
Percent of activity.
._
__
90
99
101
101
96
89
101
100
103
100
102
100
102
Waste paper, consumption and stocks :d*
Consumption
_ _ _ _
short tons
464, 323 426, 713 398, 123 429, 973
429, 113
460, 009
416, 830
422, 748
450, 176
409, 210
477, 139
440, 026
449,465
Stocks at mills, end of month
_ __do_ _
312, 685
299, 507
293, 347
302,366 1 302, 668
324, 763
322, 814 318, 617
274, 966
253, 519
256,561
259, 902
257,074
r
Revised.
cf Estimated; see note in April 1946Survey.
JSee note in Septem ber 1947 Siirvey for nTerence to revisions.
ISee no ;e marked
I»TT 1 O/4 K Tirril
§Data continue series Dublished in the 1942 Surml p,mp,nt. but, snsnfvndp.rl dnn'ncr thf war nprin rl • c\ & fa fr»r Onfnhor 1C
*New series. Data for pulpwood, waste paper and paper and paperboard are from the Bureau of the Census and are industry totals; for 1942 monthly averages and data beginning 1943
for total paper and paperboard, see p. S-32 of the August 1944 Survey; data for paperboard and building board were revised in the October 1947 Survey transferring liner for gysum and plaster
board and stock for laminated wallboard and other building board from building board to paperboard; revisions prior to August 1946 for these series and unpublished re vis'
- - • Wil1
&!5?^ fcfe ^™J£2teg^&MKchm5 for pulpwood and waste paper see p. S-34 of May 1946 Survey; earlier data for these series will be published later.
r all series are on
;tion data
xploded,
viously classi3 at mills.
„ _.f
The series from the American Paper and Pulp'Association b^ginninV^n th%~^
• w mo ^i OOVV/AO, LIWJ.I auiuoLcJ to nrodllCtlOTl dfltfl. norrmilfifl hv thp Bnrpan nf tho P.pnsns- tVmrA h
been published;
erly shown as
' -
"
"
based on
• •
'
-
•
-
. . - . - . . - .
SURVEY OF CUKRENT BUSINESS
S-36
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
July 1948
1948
1947
May
August
July
June
September
October
November
December
January
February
March
April
May
PAPER AND PRINTING— Continued
PAPER AND PAPER PRODUCTS—Con.
Paper products:
Shipping containers, corrugated and solid fiber,
shipments*
mil. sq. ft. surface areaFolding paper boxes, value:*
New orders
1936 = 1 00
Shipments
do _.
PRINTING
B ook publication, total
no. of editionsNew books
do
New editions
do _
' 5, 273
' 4, 575
•• 4, 553
' 4, 801
' 4, 905
•• 5, 416
' 5, 130
'5,063
5,185
5,003
5,509
' 4, 929
4,976
408.7
470.6
341.5
460. 9
330.8
396.0
372.6
439.3
393.5
454.3
448.0
500.5
375.5
450.4
400.3
455.6
430.4
454.8
409.2
449.0
467.4
476.5
378.6
438.5
394.0
417.9
811
650
161
631
426
105
592
439
153
678
526
152
647
549
98
772
639
133
1,135
885
250
1,110
835
275
763
612
151
805
607
198
890
732
158
819
637
182
918
715
203
PETROLEUM AND COAL PRODUCTS
COAL
Anthracite:
Exports§
thous. of short tons_.
Prices, composite, chestnut:
Retail^ ._
dol. per short ton. .
Wholesale®
do
Production
thous. of short tons_.
Bituminous:
Exports§
do
Industrial consumption and retail deliveries, total
thous. of short tons.Industrial consumption, total
do
Beehive coke ovens
do
Byproduct coke ovens. .
do
Cement mills
do
Electric power utilities.
_
do
Railways (class I)
do
Steel and rolling mills
do
Other industrial. _.
do
Retail deliveries
do
Other consumption:
Vessels (bunker) § _
_
do
Coal mine fuel
do
Prices, composite:
Retail (34 cities)^
dol. per short ton
Wholesale:®
Mine run
_ _
do
Production!
thous. of short tons._
Stocks, industrial and retail dealers, end of month,
total
thous. of short tons
Industrial, total .
do
Byproduct coke ovens
do
Cement mills
_
do
Electric power utilities.
___ .
do
Railways (class I)
do
Steel and rolling mills
do
Other industrial
do
Retail dealers, total
_ . do
COKE
Exports§
_
thous. of short tons
Price, beehive, Connellsville (furnace)
dol. per short ton_.
Production:
Beehive
thous. of short tons_.
Bvproduct
__
do
Petroleum coke
__
do
Stocks, end of month:
Byproduct plants, total
do
At furnace plants. _
_
do
At merchant plants
do
Petroleum coke
do
831
714
700
844
855
830
765
794
396
423
604
671
16.17
13. 455
4,549
16.17
13. 520
4,609
16.50
13.713
4,084
17.48
14. 615
4,994
17.71
14. 700
5,141
17.87
14. 760
5,506
18.01
14. 796
4,613
18.03
14. 803
4,863
18.22
14.896
4,921
18.24
14. 912
4,675
18.24
i 15. 022
4,928
18.24
i 15. 023
4,438
7,552
7,560
5,870
8,331
7,148
7,023
6,034
4,246
3,410
3,209
2,601
1,029
40, 683
34, 838
922
7,861
515
6,422
9,017
802
9,299
5,845
40, 029
33, 705
711
7,586
627
6,366
8,385
742
9,288
6,324
38,661
33, 343
662
7,696
648
6,719
8,151
718
8,749
5,318
40, 033
34, 975
897
8,033
672
7,466
8,527
736
8,644
5,058
43, 706
36, 670
916
7,658
662
7,616
8,450
741
10, 627
7,036
48, 006
40, 252
965
8,278
704
8,121
9,048
826
12,310
7,754
45, 863
37, 853
866
8,091
730
7,737
9,167
867
10, 395
8,010
49, 161
38, 315
950
8,425
757
8,450
9,652
966
9,115
10, 846
54, 922
41, 668
963
8,400
709
8,796
9,726
1,104
11, 970
13, 254
47, 423
35, 746
846
7,917
636
7,904
9,091
996
8,356
11,677
44, 502
34, 974
509
8,100
671
7,801
8,430
1,023
8,440
9,528
34,011
29, 600
389
6,488
649
' 6, 919
7,044
819
7,292
4,411
200
240
177
202
149
168
179
216
156
191
161
209
131
191
93
202
18.29
i 15. 139
4,867
(2)
48
(2)
55
(2)
55
(2)
38, 263
32,636
912
8,185
692
7,112
7,766
822
7,146
5,628
88
110
(2)
12.09
12.10
12.68
14.01
14.04
14.15
14,48
14.50
14.64
14.69
14.70
6.357
6. 581
56, 464
6.382
6.588
47, 424
7.126
7.342
39, 882
7.424
7.642
50, 879
7.454
7.657
52, 381
7.528
7.798
57, 301
7.549
7.889
52, 689
7.575
7.922
54, 798
7.695
8.031
55, 780
7.710
8.090
49, 711
17.684
* 8. 123
' 33, 844
1
1
7. 728
8. 146
r
34, 600
1
50, 218
47, 312
6, 454
987
15, 190
8,221
1,153
15, 307
2,906
49, 778
46, 384
7,096
1,079
16, 409
8,517
1,226
12, 057
3,394
45, 366
42, 176
4,804
968
15, 292
6,808
1,086
13,218
3, 190
47, 157
45, 199
5,482
894
15,739
6,522
1,128
15, 434
1,958
48, 370
46, 353
6,216
909
16, 154
6,227
1,089
15, 758
2,017
50, 276
48, 144
7,310
1,049
16, 772
6,305
1,076
15, 632
2,132
50, 455
48, 255
8,207
1,087
16, 673
6,156
985
15, 147
2,200
52, 161
50, 124
9,148
1,113
16, 788
6,749
1,012
15,314
2,037
49, 576
48, 185
8,671
1,049
15, 792
6,906
943
14, 824
1,391
48, 613
47, 424
8,807
991
14, 868
7,047
976
14, 735
1,189
43,585
42, 581
7,435
956
13, 609
5,599
881
14, 101
1,004
34, 418
33, 576
4,308
776
11, 745
4,864
771
11, 112
842
47, 032
45, 680
7, 763
1, 00 1
14, 601
7, 208
1, 074
14, 034
1, 35'?
'14.80
15.11
i 7. 862
8. 272
56, 590
66
63
66
77
60
118
76
79
60
59
67
37
9.125
9.562
11. 000
12. 000
12.000
12. 125
12. 250
12.250
12. 500
12. 500
12. 500
12. 500
12. 900
••612
5, 530
218
463
6,322
201
429
5,373
224
578
5,633
200
583
5,396
192
616
5,800
210
549
5,650
175
603
5,886
210
606
5,865
204
539
5,513
203
324
5,653
242
246
4,491
225
578
5, 723
671
445
226
84
668
400
268
89
773
458
315
86
982
544
438
110
1,029
509
520
95
1,063
513
550
97
1,151
589
562
83
1,040
535
504
69
912
554
358
67
807
618
190
79
716
587
128
66
646
533
113
69
797
639
158
PETROLEUM AND PRODUCTS
Crude petroleum:
161,844
153, 604
153, 348
163, 068
159, 771
162, 854
Consumption (runs to stills) f
thous. of bbl
156, 014
158, 719
166, 198
165, 858
167, 007
165, 796
Exports§
do
5,184
4,139
3,758
4,789
4,087
3,699
2,626
3, 538
3,844
4,039
3,138
2, 992
Imports§
_
do
7,919
7,762
8,361
8,591
8,033
7,908
7,638
9,393
7,512
9,339
9,767
8,622
1.810
1.810
1.810
Price (Kansas-Okla.) at wells
dol. per bbl
1.810
1.810
1.910
2.510
2.410
2.010
2.510
2. 510
2.510
2.510
159, 237
152, 978
156, 024
160, 365
157, 530
Production!
thous. of bbl
164, 913
155, 224
164, 509
165, 443
158, 736
167, 593
163, 781
98
Refinery operations
pet. of capacity
97
95
99
98
97
93
95
92
98
98
96
Stocks, end of month:
228, 523
230, 974
237, 278
225, 258
226, 666
Refinable in TJ. S.f
thous. of bbl.. 237, 768
225, 462
224, 880
224, 929
227, 278
227, 408
223, 430
At refineries
do
56, 656
59, 013
57, 136
59, 160
54, 050
53, 849
54, 572
52, 864
53, 660
60, 807
58, 989
53, 891
159, 556
162, 784
163, 740
At tank farms and in pipe lines
do
156, 241
156, 276
157, 853
154, 233
156, 224
156, 726
152, 758
150, 787
153, 378
14, 762
15, 334
15, 015
14, 932
15, 146
14, 964
On leasesf
.
do
16, 075
15, 578
15, 684
15, 339
15, 661
16, 161
Heavy in California
do
5,208
5,429
5,825
5,194
5,320
5,275
5, 623
7,228
6,539
5,725
6,756
6,412
1,842
1,523
1,626
Wells completed f
number
1,522
1,810
1,760
1,716
1,416
1,406
1,554
1,733
1,630
Refined petroleum products:
Fuel oils:
Domestic demand :§
Distillate fuel oil
...thous. of bbl
19, 262
16, 355
16, 977
19, 414
16, 093
23, 116
28,997
40, 426
38, 648
33, 779
42, 056
25, 498
Residual fuel oil
do
40,412
40, 057
39, 864
38,237
40, 677
43, 995
43, 538
52, 015
45, 565
48, 853
47, 808
42, 831
Consumption by type of consumer:
3,264
3,715
3,273
3,810
Electric power plantsf
do_ _
3,927
4,039
3,862
4,261
4,002
4,433
4,256
3,601
2,943
Railways (class I)
___do
6,564
6,714
6,653
6,650
6,506
6,941
7,004
7,141
6,409
6,188
6,661
5,995
Vessels (bunker oil) § _ _
_ _ _
do
6,470
6,080
6,371
6,676
5,901
5,948
5, 382
5,419
5,054
4,800
4,510
4,651
4,606
2
' Revised.
1 See note marked "<8>" for th s page.
Beginn ing Januar y 1948 incl uded in "o ther indus trial."
® The comparability of the data for both anthracite and bituminous coal is slightly affected beginning March 1948 by a substitution for one of the reporting companies; February 1948 figures
strictly comparable with March for anthracite and bituminous coal, prepared sizes, are $15.011 and $8.122, respectively; for bituminous coal, mine run, there was no change in price between
February and March on the basis of comparable reports.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941-February 1945 will be published later. Bituminous coal exports for
October-December 1947 have been revised to include Army civilian supply shipments (see note marked "§" on p. S-20).
JThe comparability of the series has been affected from time to time by a reduction in the number of cities or by a change in the sample (see note marked "1" in the April 1948 Survey for
Survey. Revisions in the January-September 1946 figures for folding paper boxes and January 1943-May 1944 data for shipping containers are available on request.'
tRevisedse:
._ , ._ p.^S-36 of the September^1947 Survey._ reference to 1941-45 revisions for bituminous coal production and 1941 revisions for the indicated series
r
sed series. ^See note^marked "f' on r
for
1946 revisions for bituminous coal are shown on p .S-36 of the February 1948 issue.
products; 1942-43 revisions for the latter series are available upon request. on petroleum
SURVEY OF CUREENT BUSINESS
July 1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-37
1948
1947
May
June
July
August
September
October
November
December
January
February
March
April
May
PETROLEUM AND COAL PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Fuel oils— Continued
Exports:§
2,088
2,189
Distillate fuel oil
thous of bbl
679
593
Residual fuel oil
do
.075
.075
Price, fuel oil (Pennsylvania)
dol. per gal__
Production:
24, 214
24, 954
Distillate fuel oil
..thous. of bbl__
36, 977
37, 328
Residual fuel oil
do
Stocks, end of month:
39, 676
34, 279
Distillate fuel oil
do
43, 515
39, 992
Residual fuel oil
do
Kerosene:
5,910
6,068
Domestic demand§
do
202
711
Exports^
do
Price, wholesale, water white, 47°, refinery
.082
.082
(Pennsylvania)
dol. per gal_.
8,717
9,284
Production
thous. of bbl
8,956
7,328
Stocks refinery, end of month
do
Lubricants:
3,104
2,873
Domestic demand§
do
1,338
1,361
Exports^
_
_ _ _
do
Price, wholesale, cylinder, refinery (Pennsyl.330
.310
vania)
dol. per gaL4,427
4,608
Production
_ _ _ _
thous. of bbl
8,281
8,070
Stocks, refinery, end of month _ . . do
Motor fuel:
All types:
71, 329
70, 865
Domestic demand §
do
3,937
3,480
Exports^
_ _ _
do
Prices, gasoline:
.080
.080
Wholesale, refinery (Okla.)
dol. per gal__
.172
.172
Wholesale, tank wagon (N. Y.)_ _ . do
.171
.171
Retail, service stations, 50 cities
do
69, 847
68, 535
Production, totalf
thous of bbl
61, 855
60, 681
Gasoline and naphtha from crude oil do
10, 392
10, 505
Natural gasoline and allied productstt do
Sales of 1. p. g. for fuel, etc. and transfer
2,513
2,538
of cycle products
thous. of bbl
5, 898
5,300
Used at refineriesf
do
2,936
2,901
Retail distributioncT
_ . mil. of gal
Stocks, gasoline, end of month:
81, 160
86, 727
Finished gasoline, total
thous of bbl
50, 610
54, 752
At refineries
_
_
do
8,614
8,482
Unfinished gasoline
do
5,452
5,566
Natural gasoline . _ _ _ . _ _ _
do
Aviation gasoline:*
3,003
2,870
Production, total
do
1, 353
1,219
100 octane and above.
_ _ _ _ do
4,847
4,811
Stocks, total
do
1,671
1,543
1 0 0 octane a n d above _ _ _ _ _
do
Asphalt:
12, 424
22, 762
Imports§
_
short tons
823, 800
789, 300
Production
_
do
1, 063, 100 1, 000, 500
Stocks, refinery, end of month
do
Wax:
78, 120
89, 600
Production
__.
thous. of Ib
88, 200
89, 320
Stocks, refinery, end of month
_ do _.
Asphalt prepared roofing, shipments, totalf
5,806
5,968
thous. of squares. _
1,747
1,798
Smooth-surfaced roll roofing and cap sheet. do
1,368
1,399
Mineral-surfaced roll roofing and cap sheet -do
2,691
2,771
Shingles, all types .
do
334
384
Asphalt siding, shipments*
do
32, 758
30, 456
Saturated felt, shipments*.
short tons
2,987
600
.079
3,019
781
.085
2,990
821
.087
3,058
797
.090
1,376
410
.092
842
769
.102
1,585
281
.110
1,042
499
.110
1,222
683
.110
1,649
907
.110
26, 270
38, 550
26, 946
38, 592
27, 325
37, 098
'29, 072
39, 066
28, 254
37, 344
30, 759
39, 746
33, 539
39, 606
32, 688
37, 542
32, 548
40, 523
29, 352
39, 104
46, 444
47, 600
54, 707
51, 334
59, 764
52, 578
63, 252
52, 502
61, 334
52, 455
51, 081
47, 091
41, 036
44, 636
34,590
43, 156
32, 214
41, 945
34, 514
43, 301
5,348
746
5,447
313
6,580
476
8,163
578
11, 070
372
12, 904
66
16, 198
216
12, 608
69
10, 884
269
7,774
88
.088
9,117
10, 867
.092
8,970
13, 161
.095
8,547
14, 286
.095
9,308
14, 908
.095
9,352
12, 842
.108
10, 129
9,940
.115
10, 697
6,690
.121
11, 030
5,849
.125
11, 262
6,039
.125
10, 236
6,872
.3,003
1,300
3,051
1,105
3,217
896
3,427
1,090
2,917
961
3,295
1,160
3,056
1,028
3,044
1,143
3,231
1,032
3,096
1,139
.338
4,227
8,188
.350
4,400
8,420
.352
4,047
8,340
.360
4,350
8,157
.360
4,264
8, 531
.378
4,566
8,624
.390
4,287
7, 892
.390
4,132
i 7, 829
.390
4,404
7, 961
.390
4,308
i 8, 022
73, 441
4,020
72, 089
3,224
71, 384
3,084
73, 295
3,171
64, 158
3,673
67, 285
2,882
61, 308
2,075
56, 487
1,426
68, 171
2,165
72, 183
3,190
.080
.174
.172
73, 494
65, 200
11,019
.083
.174
.174
75, 745
67, 404
11, 254
.084
.176
.173
72, 944
64, 744
11, 096
.085
.176
.178
75, 656
67, 150
11,685
.090
.178
.179
72, 061
63, 623
11,951
.099
.183
.194
75, 140
66, 770
12, 357
.105
.188
.194
73, 812
65. 744
12, 047
.105
.188
.195
67, 518
59, 964
11,372
.105
.188
.195
72, 025
63, 608
12, 296
.105
.188
.195
74, 219
65, 834
11, 704
2,725
6,176
3,080
2,913
6,477
3,022
2,896
6,513
2,892
3,179
6,355
2,959
3,513
6,323
2,593
3,987
5,994
2,794
3,979
6,434
2,460
3,818
5,695
2,297
3,879
6,187
2,745
3,319
6,058
77, 069
47, 929
8,934
5,269
77, 190
46, 398
8,659
5,017
75, 882
45, 567
8,478
4,456
74, 710
45, 084
7,874
4,221
78, 669
46, 529
8,882
4,266
83, 111
51, 570
9,192
4,296
93, 290
61, 134
8,877
4,323
102, 235
68, 604
8,764
4,673
103, 398
68, 824
8,551
4,806
101, 280
64,553
8,549
5,305
3,467
1, 545
5,144
1,804
3,664
2,061
5,480
1,968
3, 733
2,258
5,803
2,198
3,449
• 2,121
5,919
2,338
3,316
2,187
6,106
2,575
3,379
2,186
6,064
2,422
3,443
2,385
6,557
2,712
3,044
1,825
7,186
2,964
24, 591
879, 800
866, 200
26, 191
987, 500
716, 500
10 189
931, 800
597 800
47, 889
901, 100
540, 700
67
726, 900
661, 300
12, 316
638, 500
731, 100
11,031
587, 500
i 812, 400
89, 600
93, 520
66, 080
87, 920
89 880
96, 320
80,080
91,000
85, 960
96,880
96, 320
98, 280
98,000
104, 720
82, 320
103, 320
98, 280
100, 800
5,600
1,630
1, 287
2,683
271
33, 234
5,672
1,590
1,332
2,750
283
35, 456
5,886
1,699
1,368
2,819
300
39, 565
6,640
1,908
1,529
3,203
353
42, 637
5,549
1,649
1,254
2,647
331
36, 667
5,686
5, 549
1,736
1,743
1,244
1,285
2,665
2,562
356
338
37, 470 „ 40, 180
5,121
1,611
1,132
2,378
329
37, 633
5,155
1,561
1,208
2,385
350
49, 662
1
1
12, 382
551, 800
925, 800
1
r
3, 315
r 2, 329
7,044
' 2, 808
1
.110
.125
.390
.105
.188
.195
4,088
2,945
7,359
3,266
11,904
17, 793
624, 000
676, 900
1,020,700 '1,082,900
92, 960
• 108, 920
' 4, 946
' 1, 405
' 1, 056
r
2, 484
'251
r
55, 316
4,641
1,217
998
2,426
212
52, 283
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
42, 529
40, 389
47, 289
50, 557
C onsumption §
long tons
43, 018
57, 286
56, 284
58, 174
52, 076
51, 012
54 444 r 50 616
52 277
57, 626 2 45, 526 2 46, 285 2 49, 976 2 50, 946 2 71, 596 2 80, 852 2 54, 418
65, 724
93, 026
Imports, including latex and Guayule§
do
72, 070
40, 747
2
Stocks, end of month §
_ _
do _
345, 175 2 131, 624
130, 040
122, 097 114,115
330, 960
110, 752
136, 227
129,038
148, 081 130 295 r2 123 248 2 112 879
Synthetic rubber:*
37, 607
42, 580
48, 692
39, 001
41, 865
Consumption
_ _ _
do _
45, 668
39, 091
43, 230
43,003
35 375
38 222 r 34 632
35 388
454
287
Exports. _ _ _ _
do
441
2,290
349
221
419
413
202
464
387
569
39, 069
35, 681 2 31,917 2 32, 901 2 30, 518 2 33, 834 2 37, 825 2 38, 134 2 39 428
Production
do
39 025 2 43 940
40 846
42 866
2
Stocks, end of month
do
97, 612
97, 728
79, 246
105, 291
91, 288
67, 871
62, 366
67, 379
60, 290
65 649
72 885 r 2 78 722 2 85 950
Reclaimed rubber :§
20, 433
21, 908
21, 283
94 362 r 22 322
21,093
23, 801
Consumption
_
do
22 374
26, 735
23, 491
25 885
25 229
22 188
24, 144
21, 252
25, 408
22, 561
Production _. _ _
do
21, 658
25, 648
25 634
23, 161
25, 123
23 678
21 195
24 089 r 21 802
Stocks, end of month
ao
37, 145
39, 598 2 39, 704 2 40, 130 2 38, 461 2 36, 643 2 36 425 2 35 943 2 36 307 2 38 444 2 38 313 r 2 37 946 2 36 885
TIRES AND TUBES
Pneumatic casings :§
362
3 175
Exports. .
thousands. .
502
423
360
299
324
260
221
268
211
179
r 6 930
8,104
7,583
6,790
7,165
7,919
Production
do
8 889
7 716
8 050
7 851
6 385
6 574
7,441
Shipments _ _ _
_.
do .
7,526
7,283
7,520
8,246
8,639
7,915
6 583
5 919
5 106
5 703
7 039
1,974
1,793
Original equipment
do
2,005
2,130
2,128
2,097
2,178
2 338
2 330
2 020
2 366
2 265
Stocks, end of month
do
6,670
6,426
5,838
5,464
5,191
5,513 J
5,277
8,806
6,975
10, 172 r 11, 364
10, 940
r
Revised. 1 New basis excluding distributors' stocks in California; comparable figures for December 31, 1947: lubricants, 7,701; asphalt, 685,600.
3
Beginning July 1947 data are reported stocks available to industry, cf See note in the April 1946 Survey. Revisions for January 1945- July 1946 will be shown later.
3
Excludes shipments to Alaska and Hawaii; collection of data discontinued beginning April 1948; comparable figures for March 1948: casings, 173: tubes, 130.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for 1941-45 for reclaimed and natural rubber and for tires and tubes (p. S-38) are shown on
pp. 22 and 23 of the December 1946 Survey; data for October 1941-February 1945 for other series will be shown later.
{Includes natural gasoline, cycle products, liquefied petroleum gases at natural gasoline plants and benzol; sales of liquefied petroleum gas for fuels and for chemicals and transfers of cycle
products are deducted before combining the data with gasoline and naphtha to obtain total motor fuel production.
.
*New series. Data beginning 1939 for aviation gasoline, compiled by the Bureau of Mines, and data beginning 1943 for asphalt siding and saturated felts, compiled by the Bureau of the
ng
Census, will be published later. For data for 1941-45 for synthetic rubber, see p. 23 of December 1946 Survey.
fRevised series. For 1941 revisions for the indicated series on petroleum and products, see notes marked "f" on P- S-33 of the March and April 1943 issues; 1942-43 revisions are available on
request. See note in April 1945 Survey for explanation of revision in data for asphalt roofing.
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through
1941 and descriptive notes may he found
in the 1942 Supplement to the Survey
July 1948
1948
1947
June
May
August
July
September
October
November
December
January
February
March
April
May
RUBBER AND RUBBER PRODUCTS—Continued
TIRES AND TUBES— Continued
Inner tubes :§
Exports
Production __
Shipments
Stocks, end of month
._
thousands
do
do
do
475
5,752
5,571
9,772
332
5,440
5,779
9,413
282
4,542
6,216
7,909
227
5,179
6,499
6,937
166
6,540
7,233
6,339
191
7,619
7,616
6,424
150
6,457
6,343
6,683
148
6,544
5,324
8,088
112
6,226
5,152
9,116
136
4,980
4,505
9,657
135
5,534
5,188
9,930
i 120
5,578
5,807
9,737
STONE, CLAY, AND "GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments- reams..
PORTLAND CEMENT
Production
.
thous. of bbl__
Percent of capacity
Shipments
_
_ _ thous. of bbl__
Stocks finished, end of month
do
Stocks, clinker, end of month
do
CLAY PRODUCTS
Brick, unglazed:
Price, wholesale, common, composite, f. o. b. plant
dol. per thous..
Production*
thous. of standard brick
Shipments*
_ __
_ , _ _ _ do
Stocks, end of month*
do
Structural tile, unglazed:*
Production
- short tons__
Shipments
do
Stocks
_
._
do. __
Vitrified clay sewer pipe:*
Production
do
Shipments
- do___
Stocks
do
GLASS PRODUCTS
Glass con tainers:f
Production
_thous. of gross.
Shipments domestic, total
do
General use food:
Narrow neck food
_ >
do
Wide mouth food (incl. packers tumblers)
thous. of gross. _
Beverage
do
Beer bottles
_
_ - _ _ _ _ _ do
L/iquor and wine
do
Medicinal and toilet
do
Chemical, household and industrial
do
Dairy products
__
do
Fruit jars and jelly glasses
do
Stocks, end of month.
_
_ do
Other glassware, machine-made:
Tumblers:f
Productionthous. of dozens..
Shipments
_ ...
do.
Stocks
-- do_ _ _
Table, kitchen, and bouseholdware, shiprrentsf
thous. of dozens.Plate glass, polished, production.. _thous. of sq. ft__
GYPSUM AND PRODUCTS
Crude gypsum:
Imports §
. . thous. of short tons.
Calcined production
Gypsum'products sold or used:
Uncalcined
Calcined:
For building uses:
Base-coat plasters
Keene's cement
All other building plasters
Lath
Tile
Wallboardcf
Industrial plasters -
146, 352
134, 834
126, 722
130, 489
146,111
146, 754
145, 409
125, 743
111,889
139, 066
161, 110
160, 918
158, 554
13,389
66
15, 328
19, 388
6,326
15, 971
81
18, 179
17, 095
5,736
16, 342
80
20, 099
13, 337
5,514
17, 480
86
20, 365
10, 452
4,855
17,319
88
19,840
7,921
3,889
18, 300
90
20, 562
5,668
3,114
16, 814
85
16, 267
6,209
2,929
16, 123
79
12, 379
9,975
3,605
14, 541
71
9,205
15, 336
4,299
13, 347
70
8,338
20, 340
5,196
14, 502
71
13, 957
20, 886
6,072
16, 041
'80
19, 047
17, 880
5,930
17, 740
86
19, M4
16, (i77
5, e.50
19. 416
411,991
402, 780
525,985
19. 5EO
414, 634
406, 918
528, 873
19. 668
438, 591
455,616
504, 124
19. 937
466, 592
457, 311
511, 977
20. 374
456, 943
483, 622
483, 156
20.490
511, 366
538, 950
451, 497
20. 636
460, 971
453, 100
456, 272
20. 843
436, 073
431, 130
452, 138
21. 093
369, 034
335, 438
479, 788
21. 194
317, 619
300, 386
493, 925
21. 479
392, 440
414, 418
470, 041
22. 040
440, 282
490, 618
419, 030
22. 204
105, 681
105, 876
115,549
101,742
98, 364
117,080
118,814
110, 220
123,943
114, 163
112,805
124, 935
111,230
110,343
124, 794
115, 844
119, 243
119, 289
106, 221
100, 579
124, 331
97, 369
95, 319
120, 653
84, 678
77, 107
127, 576
83, 982
75, 800
134, 959
r
r
99, 575
97, 871
136, 014
109, 280
112, 965
131, 479
117,018
114, 588
152, 314
115,717
111,547
156, 358
109, 686
110,012
155, 971
111,418
110, 754
156, 544
117, 038
117, 530
155, 976
120, 704
119, 913
156, 607
117,435
110, 906
159, 360
120, 892
116,647
166, 450
118, 720
98, 540
183, 694
110, 777 r 131, 353
93, 973 ' 122, 307
200, 385 r 209, 313
123, 115
125, 602
206, 751
10, 578
9,492
9,619
8,316
8,877
8,127
9,476
8,859
9,384
8,781
9,646
8,767
8,402
7,703
7,988
7,603
8,015
7,006
1,007
928
764
1,285
1,528
2,079
9b2
1,697
761
1,844
673
341
227
6,085
1,650
1,093
1,616
663
1, 309
433
305
320
6,849
1,754
1,152
1,263
575
1,449
397
308
464
7,065
2,322
1,212
676
627
1,479
466
307
486
7,300
2,189
1,040
632
778
1,645
452
290
227
7,478
6,769
6,234
6,672
6,210
5,261
7,729
4,993
4,346
7,775
5,854
4,867
8,158
4,688
5,994
7,940
3,658
23, 171
3,331
21,026
2,302
17,670
3,645
21, 401
3,483
20, 648
7,320
6,886
r
r
r
T
8,977
10, 399
532
578
969
'549
6,53
1,759
692
704
783
1,584
502
244
39
8,488
2,518
1,338
1,055
1,060
2,281
813
272
92
6,724
r 1, 769
1,977
851
692
781
8,132
1,820
419
839
840
1,791
479
247
39
8,380
5,833
5,186
8,869
4,674
4,961
8,694
4,944
4,599
8,924
4,539
4, 416
8,690
4,325
4,296
8,741
4,511
22, 989
4,181
18, 777
3,793
20, 089
3,195
21, 958
3, 051
21, 751
2
1, 846
632
974
1,502
1,529
449
285
213
2
••3729
r605
••786
1, 861
'470
339
275
7, 876
5c!7
21.0
o?>8
8,423
5,223
5,314
8.659
5,422
5,628
8,510
5, 278
5,277
8, 398
4,147
23, 572
3,714
23, 417
3,847
20, 733
13, 303
12, 850
22, 936
12, lf.2
10, 974
24, 1153
918
1,507
1,279
644
1,667
1,410
445, 659
519, 395
451,070
10,084
104, 505
462, 222
6,791
514, 871
46, 148
499, 480
10, 909
116, 881
488, 677
7,233
592, 627
55, 998
r
r
1, 6:16
506, 561
391, 548
12, 520
101, 597
391, 142
7,281
520, 358
46, 745
do
do_
do
thous. of sq. ft
do._._
do
short tons
8,825
7,904
482
2, 251
955
744
1,279
1,794
589
315
2
17
7,896
407, 354
short tons
8, 951
7, 383
1, 745
526
1,271
1,167
1,603
419
384
27
8,057
473
823
2
409
1,467
1,166
do
r
r
410, 518
11, 944
107, 121
530, 444
4
7, 273
4
684, 302
50, 692
241
1,562
1,385
,
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
thous. of dozen pairs
Shipments
_
do
Stocks, end of month
do
11, 629
11, 199
19, 910
10, 546
10, 503
20, 795
10, 424
10, 020
21, 198
11, 651
11, 828
21, 021
12, 408
13, 170
20, 259
13, 962
14, 589
19, 633
12, 804
13, 099
19, 338
12, 548
12, 415
22, 217
13, 405
13, 199
22, 423
13, 365
13, 178
22, 610
14, 185
14, 312
22, 483
COTTON
Cotton (exclusive of linters):
710, 601
727, 448 826,216
Consumption
bales
729, 412
677, 780
759, 498
807, 135
753, 406
860, 202
785, 231 878, 714
785, 440
829, 730
302, 773
Exports§
. __ _
do
248, 549
83, 918 « 37, 066
123, 545
164, 665
134, 190
214, 098
229, 553
163, 498
261, 062
155, 080
4,984
Imports§
do
62,029
8,163
95, 526
11, 750
9,454
10, 730
97, 946
15, 319
19, 014
14, 668
10, 398
Prices received by farmersf
dol. per lb__
.312
.341
.359
.332
.319
.341
.353
.335
.318
.341
.307
.331
.307
Prices, wholesale, middling, 1Me", average, 10
.372
.375
.343
.316
.358
markets
dol. per lb__
.360
.336
.342
.352
.328
.376
.317
.372
r
3
Revised.
* See note 3 on page S-37.
2 jeily glasses included with wide mouth food containers.
Includes small quantity of nonreturnable beverage containers.
4
Laminated board included with tile temporarily.
6
"Revised to include Army civilian supply exports (see note marked "§" on p. S-20); there were no such shipments in other months of 1947.
c?Includes laminated board reported as component board. §See note marked "§" on p. S-37.
*New series. See note marked "*" on p. S-37 of September 1947 Survey for reference to tables giving the earliest data available for the clay products series.
fRevised series. See note on p. S-34 of the July 1944 Survey regarding changes in the data for glass containers and comparable figures for 1940-42 and note in May 1946 Survey for changes
in the reporting companies for other machine-made glassware. For revisions for farm price of cotton for August 1937-July 1942, see p. S-35 of June 1944 Survey.
July
SURVEY OF CURRENT BUSINESS
1948
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
S-39
1948
1947
June
May
August
July
September
October
November
December
February
January
March
April
May
TEXTILE PRODUCTS—Continued
COTTON— Continued
Cotton (exclusive of lintcrs)— Continued
Production:
Ginnings of
thous. of running bales _
Crop estimate, equivalent 500-lb. bales
thouc of bales
Stocks, domestic cotton in the United States, end
of month:
Warehouses
thous. of balesMills
-do
Cotton linters:
Consumption
- do
Production
do
Stocks end of month
_do
647
3,899
8,362
10, 056
10, 596
2
11, 373
11, 552
2
194
11, 851
1,800
1,856
1,168
1,601
856
1,322
781
1,076
2,528
1,058
5,032
1,375
5,297
1,746
5,418
2,048
5,063
2,122
4,427
2,151
3,637
2,194
2, 823
2,109
2,1991,929
80
34
73
23
382
82
23
345
81
32
289
91
105
296
103
203
364
99
188
420
102
175
476
102
166
511
98
129
516
104
104
520
97
66
500
99
47
459
'422.
COTTON MANUFACTURES
Cotton cloth:
Cotton broad woven grods over 12 inches in width,
production Quarterly* mil of linear yards
Cotton goods finished, quarterly:*
Bleached
do
Plain dyed
do
Printed
do
Exports^
thous. of sq. yd
Imports §
- _ _ do
Prices, wholesale:
Mill margins
cents per Ib
Denims, 28-inch
dol. peryd__
Print cloth 64 x 60
do
Sheeting unbleached, 36-inch, 56 x 60-- do _
Cotton yarn, Southern, price, wholesale, mill:
22/1 cones carded white
dol per Ib
40/1 twisted carded®
do
Spindle activity:
Active spindlesj
thousands.
Active spindle hours, total
mil. of hr._
Average per spindle in place
hours __
Operationsf
pet. of capacity. _
2,461
2,297
2,569
r
140,711
883
1,535
799
383
353
128, 921
1,624
142, 285
1,196
123, 480
718
1,801
934
449
418
102,417
4,161
r
147, 437
1,146
1,759
914
442
403
125, 349
472
93, 907
2,308
47.86
.338
.216
.232
46.46
.338
.228
.232
49.49
. 338
.242
.232
53.96
.338
.251
.232
57.91
.338
.255
.232
58.60
.338
.268
.232
59. 43
.338
.277
.234
60.29
.338
.283
.239
.715
.882
.706
.882
.700
.890
.706
.921
.706
.921
.708
.926
.720
.951
21, 624
9,928
415
125.6
21, 324
9,103
382
118.8
21, 415
8,531
358
107.0
21,197
9,034
379
119.4
21, 410
9,427
396
121.0
21, 563
10, 802
452
127.0
59.5
18.6
2,501
54.7
16.5
2,795
62.3
18.4
2,327
62.6
18.6
2,428
61.5
20.3
3,265
.670
.320
.670
.320
.670
.320
.670
.320
.670
.320
129, 216
1,076
2, 587
82, 410
3,461
1,872
r
964
r
477
'431
75, 299
2, 364
80, 030
2,759
59.63
.338
.261
.240
58.33
.338
.239
.240
52.98
.338
.208
.240
46. 30
.338
.205
.230
43.22
.338
.198
.230
.725
.960
.765
1.019
.804
1.098
.804
1.098
.804
1.098
.804
1. 098
21, 432
9,530
400
134.8
21, 412
9,544
402
121.3
21, 450
10, 802
454
139. 0
21, 489
9,819
4440
137.6
21, 708
11,005
M92
133.6
21, 694
10, 667
4
475
136.1
21, 723
10, 080
4450
134. 0
65.3
23.1
1,342
62.2
20.3
1,674
62.1
22.2
1,369
68.8
••22.7
2,711
60.6
20.6
4,588
67.8
'22.7
5,219
r
67.9
'22.9
4,599
69.9
23.7
.670
.320
.670
.320
.726
.352
.740
.360
.740
.360
.740
.360
.740
.360
.740
.360
RAYON AND MANUFACTURES AND SILK
Rayon yarn and staple fiber:
Consumption:
Filament yarn
mil. oflb
Staple fiber .
.
do _
Imports^
thous. of Ib
Prices, wholesale:
Yarn, viscose, 150 denier, first quality, minimum
filamentO
dol. per Ib
Staple fiber, viscose, \\$. denier
do
Stocks, producers', end of month:
Filament yarn
mil. of lb__
Staple
fiber
do
Rayon goods, production, quarterly:*
Broad woven goods
thous of linear yards
Finished total
do
White
finished
do
Plain dyed
do
Printed
do
Silk, raw:
Imports?
thous. oflb
Price, wholesale, Japan (N. Y.)§
dol. perlb...
9.0
3.8
8.8
6.6
9.2
7.7
8.4
6.4
467, 277
424, 006
47, 675
289, 638
86, 693
8.6
6.4
9.5
5.7
9.3
5.3
7.7
4.0
8.8
4.8
8.6
4.7
r 515, 951
r 466, 948
' 48, 985
' 321, 738
r
96, 225
455, 072
402, 112
45, 650
291, 146
65, 316
9.4
4.8
r
8. 7
'3.8
8.7
3.7
417
2.60
2.60
537, 900
498, 963
57, 024
345, 595
96, 344
41
4.000
3
4.150
479
4.009
193
4.025
175
(3)
294
4.400
124
4.400
379
4.400
128
2.60
38, 412
13, 668
62, 112
37, 864
13, 192
57, 566
38, 840
12, 685
48, 942
38,008
14, 056
35, 974
37,988
13, 708
41, 511
49, 210
17, 850
51, 412
37, 652
14, 008
48, 388
43, 830
16, 175
36, 234
41, 700
15, 948
110, 302
1.225
.565
1.225
.565
1.225
.565
1.220
.565
1.220
.565
1.227
.554
1.255
.510
1.255
.510
1.255
.510
1.255
.510
1.002
1.040
1.040
1.108
1.165
1.254
1.240
1.240
1.370
397
2.60
829
2.60
WOOL
Consumption (scoured basis) :J
Apparel class
thous. oflb
Carpet class
do
Imports §
do
Prices, wholesale:
Raw, territory, 64s, 70s, 80s, scoured*. dol. per lb_.
Raw, bright fleece, 56s, greasy*
do
Australian, 64-70s, good topmaking, scoured, in
bond (Boston)*
_ __dol. per Ib
Stocks, scoured basis, end of month, total f
thous of Ib
Apparel totalf
do
Domcstict
do
Foreignf
do
Carpett
do
.990
497, 886
408, 485
271, 009
137, 476
89, 401
' 42, 900 ' 51, 680
' 15, 524 r 20, 265
86, 749
79, 981
' 442, 951
r
364, 755
r 236, 565
r
128, 190
' 78, 196
461, 431
384, 070
265, 835
118,235
77, 361
42, 680
16, 928
62, 324
1.255
.510
1.296
.510
1.310
.510
1.292
1.399
1.652
429, 180
346, 452
216, 171
130, 281
82, 728
WOOL MANUFACTURES
Machinery activity (weekly average):^
Looms:
Woolen and worsted:
Pile and Jacquard
thous. of active hours
Broad _ _
_
.do
Narrow
do
Carpet and rug:
Broad
*.
do
Narrow
_
. _
_ do
Spinning spindles:
Woolen
-do. _.
Worsted
do
Worsted combs
do
'Revised.
4
1 Total ginnings of 1946 crop.
2
81
2,186
45
78
2,242
43
61
1,864
39
72
2,171
45
70
2,223
47
68
2,282
45
83
2,324
49
79
2,256
45
130
117
137
122
98
92
124
110
124
112
134
129
142
129
132
119
85, 052
115, 568
230
71, 267
88, 899
179
91, 891
109, 789
189
93, 585
118, 720
198
93, 931
122, 410
218
92, 662
121, 971
222
90, 474
117, 489
214
103, 677
132, 418
247
100
2,495
40
100
2,497
40
163
146
163
144
164
141
102. 527
' 132, 666
'252
98, 429
129, 269
250
99, 243
125, 437
245
163
146
82, 113
112, 268
223
r
!03
2, 572
51
92
2,565
52
Total ginnings of 1947 crop.
3
Not available.
JNumber active on last day of month.
r
r
Average for all cotton system spindles, including those consuming synthetics and blends not comparable with averages prior to February 1948 which are for cotton consuming spindles.
<8>Replaces series for 40/1, single, carded; see note 4 on p. S-39 of November 1947 Survey.
d*Total ginnings to end of month indicated.
OPrice of yarn in cones beginning January 1947; prior to 1947 prices were quoted for yarn in skeins; see note in June 1948 Survey.
§Data continue series published in the 1942 Supplement but suspended during the war period; data for October 1941 to February 1945 (July 1946 for silk) will be published later. Data
for cotton cloth exports have been revised to include army civilian supply exports (see note marked"§" on p. S-20).
HData for July, October, and December 1947 and March'1948 are for 5 weeks; other months, 4 weeks. Data for wool consumption were revised beginning September 1946 in the November 1947
Survey to cover consumption only on woolen and worsted goods systems; data through March 1947 published in earlier issues include also consumption on silk, cotton and other systems.
fRevised series. See note marked "t" on p. S-39 of September 1947 Survey for reference to 1941 data for the yarn price series and information regarding revisions in data for wool stocks.
See note for cotton spindle activity at the bottom of p. S-34 in the May 1948 Survey with regard to revision in the series for spindle operations as a percent of capacity.
*New series. See notes marked "*" on pp. S-38 and S-39 of the September 1947 Survey for reference to earliest data published for the indicated series.
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey
July 1948
1948
1947
May
August
July
June
September
October
November
December
January
February
March
April
May
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES— Continued
Woolen and worsted woven goods (except woven
felts):*
Production Quarterly total
thous of lin yd
Apparel fabrics!
do
IvTen's and boys' wear!
do
Women's and children's wear t
do
All other J
do _
Blankets
do
Other n on apparel fabrics
do Wool yarn:
Production total*^|
thous of Ib
Knitting**!
do
Weaving*^
do. __
Carpet and other*!
do
Price, wholesale, worsted yarn, 2/32s (Boston)
dol. per lb__
113,865
98, 021
50 161
35, 440
10, 206
7,560
8,284
r
129 382
' 114, 063
»• 51 331
r
48, 020
r 9, 053
' 6, 845
r 8, 474
113 536
99,133
44 &08
43 , 054
10,049
6,482
7,921
55, 732
6,328
36,882
12, 512
56, 704
5,764
37, 824
13,116
57, 335
5,760
39, 210
12, 365
59, 164
6,316
39, 704
13, 144
61, 796
7,052
41,244
13, 500
76, 760
9,235
49, 580
17, 945
1.950
1.950
1.950
1.950
2.000
2.020
thous of dol
2,688
3,708
4,000
4,337
3,678
3,804
thous. lin. yd__
thous of Ib
tbous lin yd
8,177
5,674
7,121
7,778
4,520
6,034
7,553
4,043
4,661
7,724
4,994
5,409
7,984
4,310
4,975
7,026
4,699
5,565
131 939
116,219
54 981
49, 295
8,620
5,496
10, 224
60, 900
7,024
39, 732
14,144
(")
71 705
8,785
47, 460
15, 460
67, 108
8,084
43, 760
15, 264
' 67, 304
«• 7, 940
r 43, 872
*• 15, 492
82, 550
9,610
53, 730
19, 210
65 916
7,460
42, 232
16, 224
(«)
C)
C)
(')
6,816
5,385
5,538
6,656
4,936
6,186
5,733
4,958
6,462
5,228
4, 328
5,687
4,408
3,638
4,800
(°)
C)
MISCELLANEOUS PRODUCTS
Fur sales by dealers
Pyroxylin-coated fabrics:®
Orders, unfilled, end of month
Pyroxylin spread
Shipments billed
7,122
4,543
5,138
TRANSPORTATION EQUIPMENT
AIRCRAFT
Exports, total §
number. _
Shipments total*
do
For TJ. S military customers*
do
F o r other customers*
__ _ _ _ _ _ ._ d o
321
1,740
94
1,646
268
1,332
139
1,193
222
1,102
104
998
166
1,140
211
929
184
1,351
323
1,028
183
1,041
239
802
218
867
252
615
240
790
288
502
116
607
136
471
187
622
155
467
165
863
278
585
229
937
165
772
61,502
29, 540
31,962
382, 640
1,853
1,599
284, 357
261, 240
96, 430
75, 696
4,580
4,380
1,657
2,723
200
44, 461
22, 591
21, 870
4CO, 372
1,628
1,409
307, 124
284, 576
91,620
73, 613
3,544
3,306
1,437
1,869
238
40, 652
24,068
16, 684
379, 192
1,806
1,694
279,631
257, 881
97, 755
78, 444
r 2, 994
r 2, 820
«• 1, 354
r 1, 466
174
50, 273
24,317
25,966
349, 409
1,765
1,570
261, 158
240, 358
86, 486
66,382
'3,110
' 2, 894
»• 1, 668
216
42,157
21, 839
20, 318
420, 269
1,607
1,412
307, 942
285, 590
110,720
89, 724
3,158
2,944
1,269
1,675
214
47, 599
22, 345
25, 254
436,001
1,667
1,527
315,969
295, 099
118, 365
94, 307
3,962
3,451
1,587
1,864
511
39, 622
20, 480
19, 087
394, 175
1,416
1,141
305, 148
284, 730
87, 611
71, 161
3,241
2,988
1,406
1,582
253
39, 007
21,362
17, 645
469, 957
1,449
1,087
366, 939
344, 110
101, 569
85, 971
«• 3, 287
«• 3, 121
1,530
' 1, 591
166
33, 643
19, 458
14, 185
405, 651
1,370
1,068
305, 081
285,373
99,200
83, 893
3,445
3,306
1,548
1,758
139
30,366
16, 422
13, 944
382, 991
1,090
752
274, 847
256, 753
107, 054
88, 889
3,671
3,479
1,688
1,791
192
40, 071
20, 493
19, 578
492,013
1,409
1,202
349, 998
327, 198
140, 606
118, 572
4,238
4,023
2,094
1,929
215
44, 854
22, 570
22, 284
438, 082
1,048
902
308, 071
288, 356
128, 963
111, 911
r
4, 116
3,898
2,081
1,817
r
218
338, 531
1,281
1,161
225, 461
209, 591
111, 789
96,909
3,753
3,606
1,886
1,720
147
286, 719
76, B01
26P, 863
65, 458
263, 167
71, 647
264, 866
75,912
251,655
69, 899
281, 428
87, 167
258, 934
73, 737
312, 263
67, 690
274, 978
69, 486
6,409
3,131
60
60
5,243
4,230
67
63
5,366
4,846
53
45
4,410
4,346
20
20
5,749
5,668
29
29
6,401
6,242
74
74
6,964
6,889
69
55
7,914
7,661
71
71
6,866
6,561
57
57
6,345
6,306
54
54
6,959
6,940
74
74
7 041
6,726
107
67
7 171
6,651
64
60
1,734
1,734
1,732
1,730
1,730
1,725
1,728
1,731
1,735
1,738
1,740
1,743
1 744
77
4.6
89, 554
66, 466
23,088
77
4.7
93, 159
68, 675
24, 484
81
4.9
94, 232
70, 578
23, 654
81
4.9
97, 392
71, 826
25, 566
78
4.7
97, 645
73,416
24, 229
72
4.3
103,086
76, 713
26, 373
73
4.4
104, 788
78, 857
25, 931
72
4.3
99, 216
74, 635
24, 581
76
4.5
101,662
74, 008
27, 654
79
4.7
103, 061
75, 482
27, 579
80
4.8
105, 120
80, 772
24, 348
83
4.9
109 567
86, 947
22, 620
86
5 1
103 786
81, 067
22, 719
2,832
7.8
2,735
7.6
2,778
7.8
2,709
7.6
2,706
7.6
2,646
7.5
2,612
7.5
2,483
7.1
2,581
7.4
2,702
7.8
2,873
83
2,879
8 4
2,887
8 5
30
30
0
718
717
1
262
133
129
24
24
0
770
770
0
106
19
87
29
29
0
786
785
1
133
57
76
40
40
0
811
810
1
98
9
89
46
36
10
796
794
1
62
17
45
45
35
10
922
921
1
78
18
60
33
23
10
1,147
1,146
1
110
36
74
30
20
10
1,196
1,195
1
87
20
67
96
76
20
1,417
1 416
1
150
67
83
108
89
19
1,488
1 487
1
71
12
59
119
89
30
1,431
1 431
117
89
28
1,455
1 454
111
86
25
1,485
1 485
153
30
123
^
133
28
105
349
307
42
321
288
33
305
271
34
365
339
26
352
262
90
375
303
72
337
273
64
394
317
77
316
270
46
« ggg
338
288
50
007
318
19
MOTOR VEHICLES
Exports, assembled total§
number
Passenger cars § . _ _ _ _ _ _ _ _ _ _ _ _ d o _ _Trucks^
do
Factory sales, total §
_
_ _ _ _ do_ _
Coaches total
_
do
Domestic
_ _ _ _ _ _ _ _ _ do_ _
Passenger cars, total
do
Domestic _ _ _ _ _ _
do_ _.
Trucks, total
do
Domestic
do_ _
Truck trailers, production, total*
do
Complete trailers
do
Vans _ _ _
_ _ _ _
__do
All other
do
Chassis shipped a s such _ _ _ _ _ _ _ _ _ do. _
Registrations:!
New passenger cars
_
do
New commercial cars
do_ _-
r 1, 226
RAILWAY EQUIPMENT
American Railway Car Institute:
Shipments:
Freight cars total
number
Domestic
do. .
Passenger cars, total
do
Domestic
do
Association of American Railroads:
Freight cars, end of month:
Number owned
_ _ _ thousands.
Undergoing or awaiting classified repairs
thousands..
Percent of total on line
Orders, unfilled
_ _
cars
Equipment manufacturers
do
Railroad shops
do _
Locomotives, end of month:
Steam, undergoing or awaiting classified repairs
number. .
Percent o f total o n line _ _ _ _ _ _
Orders unfilled:
Steam locomotives, total
number
Equipment manufacturers
do
Railroad shops
_ _ do
Other locomotives, total*
do
Equipment manufacturers* _ _ _ _ _ d o
Railroad shops*
do
Exports of locomotives, total f
do
Steam §
do
Otherf
do
o
Q
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
Shipments, total
Domestic
Exports
_ _ _ _ _
_
number
do
do
258
100
qoi
286
45
T
Revised.
° Data not available.
tThe total includes fabrics produced for Government orders not included in the detail as follows (thousands of yards): 1947: 2d quarter, 2,214; 3d quarter, 3,122; 4th quarter (revised),
•{Data for July, October, and December 1947, and March 1948, are for 5 weeks; other months, 4 weeks.
®See note in April 1946 Survey with regard to changes in these series.
§Data continue series published in the 1942 Supplement but suspended during the war period. For 1940-45 data for factory sales of motor vehicles see p. 24 of June 1947 Survey. Data
for October 1941-February 1945 for the foreign trade series will be published later. See note on p. S-40 of August 1947 Survey regarding unpublished revisions for registrations.
*New series. For available data for 1937-43 for woolen and worsted goods production, see p. 19 of May 1945 Survey. See note on p. S-39 of July 1947 Survey for source of data on wool
yarn production and explanation of a revision in the data in that issue, and p. S-40 of the April 1947 Survey for source and earliest data published for truck trailers.
Data beginning January
1946 for aircraft shipments are available on request. See May 1946 Survey for description and data beginning March 1945 for unfilled orders of "other locomotives."
fRevised series. Export series for total and "other" locoirotives were revised in the May 1946 Survey (see note in that issue).
-INDEX TO MONTHLY BUSINESS STATISTICS, Pagei
Pages marked S
Abrasive paper and cloth (coated)
38
Acids
23
Advertising
6, 7
Agricultural income and marketings
1, 2
Agricultural wages, loans
14,15
Air-line operations
22
Aircraft
- 10,11,12,13,14, 40
Alcohol, denatured, ethyl, and methyl
23
Alcoholic beverages
2, 26
Aluminum
32
Animal fats, greases
24
Anthracite
2,4,11,12,13,14,36
Apparel, wearing... 4, 6, 7, 8,10,11,12,13,14, 38, 39
Armed forces
9
Asphalt and asphalt products
37
Automobiles
2,3, 7, 8,10,11,12,13,14,18
Banking
15, 16
Barley
27
Barrels and drums
33
Battery shipments
34
Beef and veal__
29
Beverages, alcoholic
2,26
Bituminous coal
2,4,11,12,13,14,36
Boilers
34
Bonds, issues, prices, sales, yields
19
Bone black
24
Book publication
36
Brass
33
Brick
4,38
Brokers' loans
15,18
Building contracts awarded
5
Building costs
6
Building construction (see Construction.)
- "-• materials, prices, retail trade
••
4,7,8
Building
reti
iness turn-over __
3
Businesses operating and bus!
27
Butter.
Candy
29
Cans, metal
33
Capital
flotations
18
Carioadings
_
22
Cattle and calves
_..
28
Cellulose and other plastic products
26
Cement
_
_
2,4,38
Cereal and bakery products
4
Chain-store sales
8
Cheese
27
Chemicals
2, 3,4,10,11,12,14,18, 23, 24
Cigars and cigarettes
30
Civil-service employees
11
Clay products (see also Stone, clay, etc.)
2, 38
Clothing
5,7,8,10,11,12,13,14,38
Coal
2,4,11,12,13,14, 36
Cocoa
29
Coffee
_
_29
Coke
_
2,36
Commercial and industrial failures
3
Construction:
New construction, dollar value
5
Contracts awarded
5
Costs
5,6
Dwelling units scheduled to be started
5
Highway
5,11
Employment, wage rates, earnings, hours— 9,10
11,12,13,14
Consumer credit
16
Consumer expenditures
1, 7
Consumers' price index
4
Copper
33
Copra and coconut oil
25
Corn
-._
-- 19, 28
Cost-of-living index (see Consumers' price
index)
4
Cotton, raw, and manufactures
2,
4,5,10,11,12,13,14,38,39
Cottonseed, cake and meal, oil
25
Crops
1, 2, 4, 24, 26, 27
Currency in circulation
18
Dairy products
1, 2, 4, 27
Debits, bank
15
Debt, short-term, consumer
16
Debt, United States Government
16
Department stores, sales, stocks, collections..
8, 9
Deposits, bank
15,18
Disputes, industrial
13
Distilled spirits.__
26, 27
Dividend payments and rates
1,19
Drug store sales
8
Dwelling units scheduled to be started
5
Earnings, weekly and hourly
13,14,15
Eggs and poultry
1,4, 29
Electrical equipment
2,7,34
Electric power production, sales, revenues
26
Employment estimates
9,10,11
Employment indexes:
Factory, by industries
10,11
Nonmanufacturing industries
11
Employment security operations
13
Emigration and immigration
23
Engineering construction
5
Exchange rates, foreign
17
Expenditures, United States Government
16
Explosives
24
Exports (see also individual commodities)
20, 21
Factory, employment, pay rolls, hours, wages.
9,
10,11,12,13,14
Failures, industrial and commercial
3
Farm marketings and income
1, 2
Farm wages
14
farm, and wholesale prices
Farm products,
2, 4
Fats and oils
4, 24, 25
http://fraser.stlouisfed.org/
Federal Government, finance
16,17
Federal Reserve St. Louis
15
Federal Reserve Bank of banks, condition of
Pages marked S
Fish oils and
fish
24, 29
Flaxseed
25
Flooring
_31
Flour, wheat
28
Food products
2,
3, 4, 5, 7, 8, 10, 11, 12,13, 14, 17, 26, 27, 28, 29
Footwear
2,4,8,10,12,13,14,30,31
Foreclosures, real estate
6
Foreign trade, indexes, shipping weight, value
by regions, countries, economic classes and
commodity groups
20, 21, 22
Foundry equipment
34
Freight cars (equipment)
40
Freight carloadings, cars, indexes
22
Freight-car surplus and shortage
22
Fruits and vegetables
2,4,27
Fuel equipment and heating apparatus
33
Fuel oils
37
Fuels
_
_ 2,4,35,36,37
Furnaces
33, 34
Furniture
2, 4,10,11,12,13,14,15
Gas, customers, sales, revenues
26
Gasoline
37
Glass and glassware (see also Stone, clay, etc.)_
38
Gelatin
23
Gloves and mittens
31
Glue
_
24
Glycerin
24
Gold..
_
17
Goods in warehouses
7
Grains
_
4,19, 27, 28
Gross national product
1
Gypsum
38
Heating and ventilating equipment
34
Hides and skins.
4,30
Highways..
5,11
Hogs
_.
28,29
Home-loan banks, loans outstanding
6
Home mortgages
6
Hosiery
_
5,38
Hotels
11,12, 23
Hours of work per week
12,13
Housefurnishings
.
4, 7,8
Housing
4, 5
Immigration and emigration
23
Imports
20,21,22
Income, personal
1
Income-tax receipts
.
.
16
Incorporations, business, new
....
....
3
Industrial production indexes
..
2
Instalment loans
...
16
Instalment sales, department stores
..
..
8
Insurance, life
17
Interest and money rates
15
Inventories, manufacturers' and trade
3,9
Iron and steel, crude and manufactures
2,
3, 4,10,11,12,13,14,18,31,32
Kerosene
37
Labor force
9
Labor disputes, turn-over
13
Lamb and mutton
.
. 29
Lard.
29
Lead
_
33
Leather and products
2, 4,10,11,12,13,14; 30
Linseed oil, cake, and meal
25
Livestock
1,2,4,28
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
6,15,19
Locomotives
40
Looms, woolen, activity
39
Lubricants
37
Lumber
2, 4,10,11,12,13,14,31
Machine activity, cotton, wool
39
Machine tools
10,11,12,14,34
Machinery
2, 10, 11, 12,13,14,18,34
Magazine advertising
6, 7
Mail-order houses, sales
8,9
Manufacturers' orders, shipments, inventories.
3
Manufacturing production indexes
2
Meats and meat packing
2, 4,10,12,13,14. 29
Metals
2, 4,10,11,12,13,14,18, 33
Methanol
24
Milk
_
27
Minerals.2,10,11,12,13,14
Money supply
18
Mortgage loans
6,15
Motor f u e l _ _ _
37
Motor vehicles
. . 7,40
..
Motors, electrical
....
34
National product and income
..
1
Newspaper advertising
6, 7
Newsprint
35
New York Stock Exchange
19,20
Oats
28
Oil burners
34
Oils and fats_
_
4,24,25
Oleomargarine
25
Operating businesses and business turn-over..
3
Orders, new, manufacturers'
3
Paint and paint materials
4, 25
Paper and pulp
2,3,5,10,11,14,35
Paper products
35
Passports issued
23
Pay rolls, manufacturing and nonmanufacturing industries
11,12
Personal income
1
Personal savings and disposable income
1
Petroleum and products
2,
2,3, 4,10,11,12,14,18,36,37
Pig iron..
32
Pork
Postal business L
Postal saving! i_L
Poultry and e|gg!
Prices (see
Consumers
Received a
Retail pric
Wholesale
Printing
Profits, corpcn
Public assists
Public utilities
Pullman Con
Pulp wood
Pumps___
Purchasin^ .
Pyroxylin cor
Radio advertfisji:
Railways,
tistics, empli
Railways, streje
Rayon, and
Receipts, Unii
Reconstruct] 011
Rents (housing
Retail trade
departmer
general m^rp
Rice.
Roofing and
Rosin and
Rubber, nati
tires, and
Rubber ind
inventorii
earnings.
Savings depj
Savings, per BOX
Securities "
Service industr
Sewer pipe,
Sewing mac hi
Sheep and I; a:
Shipbuilding.
Shipments,
Shoes
Shortenings.
Silver
L
Skins
i.
Slaughtering a:
Soybeans,
Spindle ai
Steel inL
Iron and
Steel, scrapL.
Stocks, d .
turers' in)
Stocks, divjd
Stokers,
Stone, clay
Stoves
Street railway
Sugar.
Sulphur
Sulfuric
Superphosp
Tea
L.
Telephone,
graph canTextiles- .J..
Tile
L.
Tin..
Tires and ip
Tobacco__
Tools, mac hi
Trade, retsil
Transit Hn
Transports
Transport
Travel,
Truck trai
Trucks
Turpentines
Unemploym
sation..
United States
United St«i
Utilities..
Vacuum cl
Variety st<
Vegetable
Vegetables
Vessels cl
Veterans'
Wages, fa<
War
War Sa"
Wareh<
WashersWater
Wheat ai
Wholesale pr
Wholesale
Wood puto..
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