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July 1989 / Volnaiie 69 Number
SURVEY OF CURRENT BUSINESS
1
Business Situation
1
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The U.S. National Income and Product Accounts:
Revised Estimates
8
10
19
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Components of Real GNP
Prices
Personal Income
Impact of the Revisions
Summary of the Revisions
Methodology
Composite Indexes of Leading, Coincident, and
Lagging Indicators
BEA's Measurement of Computer Output
116
U.S. Affiliates of Foreign Companies:
1987 Benchmark Survey Results
141
^B^^
National Income and Product Accounts Tables
108
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38
107
"-;V:
State Personal Income, Summary Estimates for
First Quarter 1989
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the BUSINESS SITUATION
JtvEAL GNP, a measure of U.S. production, increased at an annual rate of
1^2 percent in the second quarter, following an increase of 8^2 percent in the
first (chart 1). After allowance for the
rebound from the 1988 drought, which
added roughly 2 percentage points to
first-quarter growth, the increase in
GNP was about the same in both quarters and less than one-half as big as
the increases in the second half of 1988
(table 1). Prices increased at approximately the same rate in the second
quarter as in the first—about 5 percent for the GNP price index and 5x/2
percent for the price index for gross domestic purchases; the increases in both
price measures were somewhat larger
than in the second half of last year.1
First-quarter estimates of real GNP
and other components of the national
income and product accounts (NIPA's)
have been revised as part of the regular
annual revision presented in this issue.
Real gross domestic purchases, a
measure of U.S. demand, increased l1^
percent in the second quarter, follow1. The regularly featured estimates of real GNP and
GNP prices are based on 1982 weights. An alternative measure of price change that uses more current
weights—the chain price index—is published in table
8.1 of the "National Income and Product Account Tables." The GNP chain price index, which increased 5
percent in the second quarter after a 4a/2-percent increase in the first, can be used to calculate an alternative measure of real GNP growth based on more current
weights; this measure increased at annual rates of 1^2
percent in the second quarter and 3 percent in the first.
(See "Alternative Measures of Real GNP" in the April
1989 SURVEY OF CURRENT BUSINESS. Measures based on
1987 price weights will be presented in a special table
in the August 1989 issue.)
ing a 2-percent increase in the first.
The milder slowdown in U.S. demand
than in U.S. production reflected the
fact that net exports increased much
less in the second quarter than in the
first. (Exports increased only a little
less than in the first quarter, but imports surged after a slight decline.)
Although gross domestic purchases
increased less in the second quarter
than in the first, final sales to domestic
purchasers increased more. These divergent movements reflected a decline
in inventory investment in the second
quarter after an increase in the first.
The second-quarter decline was more
than accounted for by farm and motor vehicle inventories; investment in
other inventories increased. Changes
in farm inventory investment (and
in net purchases by the Commodity
Credit Corporation, or CCC) reflected
the pattern of the 1988 drought's impact, as explained later in the discussion of inventory investment. The drop
in motor vehicle inventory investment
was the consequence of flat production
and an upswing in sales.
Motor vehicles.—Motor vehicle output was unchanged in the second quarter after a slight decline in the first;
total real final sales (sales to domestic
purchasers plus net sales to foreigners)
increased $9 billion after an $8 billion
decline.
In units, domestic car production
was unchanged at 7.1 million (seasonally adjusted annual rate) in the second quarter after declining 0.4 million
CHART 1
Selected Measures:
Change From Preceding Quarter
Percent
10
REAL GNP
5
0
Ljlllllnl,
-5
-10
10
REAL GROSS DOMESTIC PURCHASES
l-i.llll-ilii.
GNP PRICE INDEX (FIXED WEIGHTS)
10
GROSS DOMESTIC PURCHASE PRICE INDEX
(FIXED WEIGHTS}
Looking Ahead...
• Annual Revisions of State Personal Income. State personal income for
1986-88 will be presented in the August SURVEY.
• Leading Indicators. An article exploring the role of "prime movers"—for
example, monetary and fiscal policies, foreign economic developments, and
new technologies—in indexes of leading indicators will appear in a forthcoming issue of the SURVEY.
1986
1987
1988
1989
Note.—Percent change at annual rate from preceding quarter;
based on seasonally adjusted estimates.
U.S. Department of Commerce, Bureau of Economic Analysis
SURVEY OF CURRENT BUSINESS
in the first.2 After increasing production early in the second quarter, manufacturers cut it late in the quarter
in response to the weakening effectiveness of enhanced sales-incentive programs introduced in early April. The
programs, designed to boost sales that
had fallen throughout the first quarter, covered most vehicle models and
offered lower interest rates or larger
rebates than those previously offered.
2. Domestic car production includes only cars made
in the United States. If imports of U.S. nameplate cars
from Canada and Mexico were included—as they are
in the sales and inventory estimates—production would
show a modest increase in the second quarter.
Car sales jumped in April but fell in
May and June. For the quarter, domestic car sales increased 0.3 million
units, to 7.3 million, following a decline of 0.5 million units in the first
quarter. Inventories increased slightly
to 1.73 million, following a larger increase; the inventory-sales ratio edged
down slightly to 2.8—still well above
the ratio considered desirable by the
industry.
Sales of imported cars rebounded 0.2
million units, to 3.0 million, in the second quarter, following a decline in the
first. The increase was due in part to
incentive programs offered by some for-
July 1989
eign manufacturers attempting to compete with domestic manufacturers' programs. Inventories of imported cars
declined from the record level reached
at the end of the first quarter.
Unit sales of new trucks increased
slightly after a first-quarter decline.
Both domestic and imported trucks
contributed to the increase. Many
truck models were included in the
sales-incentive programs. In the second quarter, sales of domestic trucks
were 4.4 million, and sales of imported
trucks were 0.5 million. Truck inventories increased less in the second quarter than in the first.
Table I.—Recent Patterns in Real GNP and Real Gross Domestic Purchases
Components of Real GNP
[Billions of 1982 dollars; seasonally adjusted at annual rates]
Level
Change from preceding quarter
1988
II
Gross national product
Less: Exports
Plus: Imports
Equals' Gross domestic purchases
Change in business inventories
Farm
Motor vehicles
Other
Final sales to domestic purchasers
Commodity Credit Corporation inventory change in
government purchases
Motor vehicles
Other l
Addenda:
Impact of 1988 drought on farm output 2
GNP excluding impact of drought
III
1989
IV
4,010.7 4,042.7 4,069.4
519.7
592.3
531.9
606.9
551.4
625.2
4,083.3 4,117.6 4,143.2
I
1988
II
4,106.8 4,123.9
1989
HI
IV
I
II
32.0
26.7
37.4
17.1
585.1
637.7
12.2
14.6
19.5
18.3
18.3
-.6
15.4
13.1
4,161.8 4,176.5
569.7
624.6
34.3
25.6
18.6
14.7
24.5
7.6
11.4
5.5
22.0
2.4
2.4
17.2
16.0
4.3
7.6
4.1
-19.2
-13.9
-3.9
-1.4
6.2
21.2
7.5
-22.5
-2.5
-5.2
-9.0
11.7
4,061.8 4,080.1 4,124.9 4,137.3
21.5
-4.0
.2
25.3
37.5
.3
7.8
29.4
18.3
-13.6
3.9
28.0
4,154.6
18.3
44.8
12.4
17.3
-2.2
1.2
-19.6
-20.1
-3.3
199.1
192.1
198.0
189.9
195.0
3,882.3 3,908.1 3,929.1 3,950.7 3,958.4
-.5
-7.0
25.8
17.9
5.9
21.0
-1.1
-8.1
21.6
4.5
5.1
7.7
-6.7
-21.8
0
-11.7
0
4,017.4 4,054.4 4,091.2 4,106.8 4,123.9
-5.0
37.0
-10.1
36.8
21.8
15.6
0
17.1
1. Consists of personal consumption expenditures (PCE) less PCE for motor vehicles, nonresidential and residential structures, producers'
durable equipment (PDE) less PDE for motor vehicles, and government purchases less government purchases of motor vehicles and less CCC
inventory change.
2. Estimates of the impact of the drought on farm output have been revised as part of the regular annual revision; previously published
estimates for the second, third, and fourth quarters of 1988 had been -$9.2 billion, -$14.3 billion, and -$25.0 billion, respectively. See the August 1988
"Business Situation" for a description of the procedures used by BEA to estimate the losses in output due to the drought and to allocate them on a
quarterly basis. BEA has not attempted to make estimates of the impact of the drought on farm inventories, farm income, and nonfarm national
income and product accounts components.
NOTE.—Motor vehicle estimates are found in tables 1.18 and 1.20—for auto and trucks, respectively—of the "National Income and Product
Accounts Tables." The other estimates are found in tables 1.2, 1.6, and 3.8B.
NOTE.—Quarterly estimates in the national income and product accounts are expressed at
seasonally adjusted annual rates, and quarterly changes in them are differences between these
rates. Quarter-to-quarter percent changes are annualized. Real, or constant-dollar, estimates
are expressed in 1982 dollars.
The advance GNP estimates for the second quarter are based on the following major source
data, some of which are subject to revision. (The number of months for which data were available
is shown in parentheses.)
Personal consumption expenditures: Sales of retail stores (3), and unit auto and truck
sales (3);
Nonresidential fixed investment: Unit auto and truck sales (3), construction put in place (2),
manufacturers' shipments of machinery and equipment (2), and exports and imports of capital
goods (2);
Residential investment: Construction put in place (2), and housing starts (3);
Change in business inventories: Manufacturing and trade inventories (2), unit auto inventories (3);
Net exports of goods and services: Merchandise exports and merchandise imports (2);
Government purchases of goods and services: Federal outlays (2), and State and local construction put in place (2);
GNP prices: Consumer Price Index (3), Producer Price Index (3), merchandise export and
import price indexes (3), and unit-value indexes for exports (1), for petroleum imports (2), and
for nonpetroleum imports (1).
All major components of real GNP
decelerated in the second quarter except nonresidential investment (specifically, producers' durable equipment)
and government purchases (largely
CCC purchases and national defense
purchases). As already mentioned, inventory investment declined and net
exports slowed. Personal consumption
expenditures decelerated for the third
consecutive quarter, and residential investment declined more in the second
quarter than in the first.
Personal consumption expenditures
Real personal consumption expenditures (PCE) decelerated to a 1-percent
increase in the second quarter after
decelerating to a 2-percent increase
in the first (table 2). The secondquarter increase was the smallest since
the fourth quarter of 1987 (when PCE
declined1^ percent). Food purchases
(in nondurables) more than accounted
for the slowdown in the second quarter;
energy purchases (in nondurables and
services) had accounted for the slowdown in the first.
The decelerations in PCE in the first
two quarters followed a slight slowing
in the fourth quarter of 1988. This pattern of deceleration is difficult to reconcile with many of the factors usually considered in analyses of consumer
spending. Real disposable personal income growth did slow in the second
quarter, but this followed several quarters of strong growth. Consumer confidence (as measured by the Index of
Consumer Sentiment prepared by the
University of Michigan's Survey Research Center) declined in two of the
last three quarters, but the declines
July 1989
still left the index at very high levels. Nor do labor market conditions
appear to have been behind the weakening of consumer spending: From its
lowest level in 14 years, 5.5 percent
in the second and third quarters of
1988, the civilian unemployment rate
declined further, to 5.1 percent in the
first quarter of 1989, before edging up
to 5.2 percent in the second quarter.
Even if these developments could be
interpreted as explaining the recent
weakness in PCE, it is hard to see how
they could be related to expenditures
on energy and food, the two items in
which the weakness was most apparent. This same point would apply to
the argument that consumers are satiated after a long spending binge and
want to augment their savings. Most
analysts would probably expect consumer durables to take the brunt of
such a retrenchment in spending, not
energy and food.
With regards purchases of energy,
it seems likely that part of the firstquarter decline reflected reduced demand for home heating during a
warmer-than-usual winter. In the second quarter, purchases of energy were
unchanged, despite a 31 ^-percent increase in PCE energy prices.
With regards purchases of food, the
second-quarter decline of $7x/2 billion
was by far the largest drop for this
component than at any other time in
the current expansion. The decline
was probably due in part to a sharp (8percent) increase in PCE food prices,
but even larger price increases occurred earlier in the expansion without precipitating such a steep drop in
purchases. (It should be noted, perhaps, that a drop in constant-dollar
food purchases does not necessarily imply a drop in the physical quantity of
food purchased and consumed. A drop
in purchases may reflect a shift from
higher priced foods to lower priced
foods or a shift from meals purchased
in restaurants to meals prepared and
consumed at home.)
Finally, with regards purchases of
both energy and food, it is extremely
rare for purchases of these staples to
exhibit weakness for more than one or
two quarters; they generally rebound
quickly.
PCE for durable goods and services
shows no clear a pattern over the past
few quarters. Durable goods declined
in the first quarter and increased in
the second, reflecting similar movements in motor vehicles and parts. Excluding motor vehicles and parts, PCE
SURVEY OF CURRENT BUSINESS
durables increased 5^2 percent in both
quarters.
Expenditures for services increased
3^2 percent in both the first and second
quarters. Excluding energy, PCE services increased 41/2 percent in the first
quarter and 3x/2 percent increase in the
second.
Nonresidential fixed investment
Real nonresidential fixed investment
increased 7x/2 percent in the second
quarter, slightly more than in the
first (table 3). Structures declined 10
percent after a 1-percent decline, but
producers' durable equipment (PDE)
increased 13^2 percent after a 9^2percent increase. The second-quarter
weakness in structures was concen-
trated in commercial buildings; in the
first quarter, oil well drilling had more
than accounted for the decline. Information processing equipment, which
accounts for about one-half of PDE, accounted for about three-fourths of the
increase in PDE in the second quarter;
the only major category of PDE to decline was industrial equipment (after
seven consecutive quarterly increases).
Autos more than accounted for the increase in transportation equipment.
Factors that are typically considered
in analyses of business investment
present a mixed picture for future investment. On the one hand, business sales have increased slowly in recent quarters, and capacity utilization
(which had been increasing steadily)
slipped slightly in the first and second
Table 2.—Real Personal Consumption Expenditures
[Seasonally adjusted at annual rates]
Billions of 1982 dollars
Level
Percent change from preceding
quarter
Change from preceding quarter
1988
1988
1989:11
m
IV
I
II
.
21.3
19.6
13.3
7.2
3.3
3.0
2.0
1.1
423.8
177.2
177.9
68.7
-4.1
-4.7
-.1
.7
9.8
4.4
2.7
2.6
-1.2
-4.5
6.8
-3.4
4.5
1.1
3.1
.3
-3.9
-10.0
-.2
4.2
9.9
10.4
6.7
15.9
-1.1
-9.6
17.2
-17.6
4.4
2.5
7.3
1.8
11.1
2.1
7.0
.6
1.4
1.7
.2
.5
2.1
-1.2
3.0
3.9
.4
-3.2
1.9
-9.2
-7.4
.5
-.8
-1.5
5.0
1.8
19.1
2.0
3.5
.7
.2
1.2
7.0
-2.9
1.3
3.4
1.0
-9.9
4.8
-4.0
-6.2
1.2
-2.6
-3.6
1,318.5
371.5
164.5
81.5
83.0
96.7
292.2
393.5
Nondurables
Food
Clothing and shoes
Energy !
Other nondurables
.
IV
905.8
458.6
165.5
120.8
160.9
Durables
Motor vehicles and parts
Furniture and household equipment ...... ... .
Other durables
m
2,648.2
Personal consumption expenditures
Services
Housing
Household operation
Energy 2
Other..
Transportation
Medical care
Other services
1989
1989
14.2
1.2
3.9
2.2
1.9
1.3
4.3
3.4
8.2
1.2
-.6
-.7
0
1.0
4.0
2.5
11.5
1.6
-2.3
-2.6
.3
.1
5.1
7.0
11.8
1.9
1.1
.8
.3
.4
3.2
5.2
4.5
1.3
10.0
11.2
9.8
5.7
6.4
3.7
2.6
1.3
-1.4
-3.3
0
4.3
5.8
2.7
3.6
1.8
-5.4
-11.9
1.5
.4
7.4
7.5
3.7
2.1
2.7
4.0
1.5
1.7
4.5
5.5
I
II
1. Gasoline and oil, and fuel oil and coal.
2. Electricity and gas.
NOTE.—Percent changes in major aggregates are found in table 8.1 of the "National Income and Product Accounts Tables." Dollar levels are
found in table 2.3.
Table 3.—Real Gross Private Domestic Fixed Investment
[Seasonally adjusted at annual rates]
Percent change from preceding
quarter
Billions of 1982 dollars
Level
Change from preceding quarter
1988
m
1989
1989
1988
1989:11
IV
II
I
m
IV
I
-3.0
II
698.8
4.1
-5.3
5.8
2.2
2.4
3.4
1.3
Structures
Nonresidential buildings, excluding farms
Public utilities
Mining exploration, shafts, and wells
510.2
118.0
77.3
23.7
12.6
4.4
3.2
.5
-.6
1.6
-.3
-.1
-8.3
-1.6
-1.2
1.2
-2.3
.7
8.3
-.3
1.7
.3
-2.1
9.2
-3.1
-2.5
-.8
-.3
.5
2.6
1.6
-3.0
33.4
-6.6
-10.9
-6.5
-5.1
-5.9
22.6
-43.5
111.5
6.9
-1.0
9.0
5.1
-45.3
-18.1
7.6
-9.9
-12.0
-12.4
-9.0
62.0
Producers' durable equipment
Information processing and related equipment
Industrial equipment
Transportation and related equipment
Other
392.2
189.9
73.2
64.0
65.2
2.7
.9
1.9
.2
-.2
-6.7
-6.4
2.5
-2.0
-.8
8.6
8.1
2.9
-4.0
1.5
12.3
9.6
-1.7
3.3
1.3
2.9
2.0
11.7
1.2
-1.3
-6.9
-13.6
15.2
-11.5
-5.0
9.6
20.2
17.1
-22.5
10.0
13.6
23.1
-8.8
23.6
8.4
188.6
91.1
20.0
77.4
.9
-1.4
.3
2.0
3.0
2.6
.1
.2
-2.5
.4
.3
-3.1
-7.0
-7.2
.5
-.4
1.9
-5.7
6.5
10.6
6.3
11.4
2.1
1.0
-5.0
1.6
6.4
-14.5
-13.6
-26.2
10.7
-2.0
Gross private domestic fixed investment
Residential
Single-family structures
Multifamily structures
Other
NOTE.—Percent changes in major aggregates are found in table 8.1 of the "National Income and Product Accounts Tables." Dollar levels are
found in table 5.13.
SURVEY OF CURRENT BUSINESS
quarters, and corporate profits tumbled in the first quarter. On the
other hand, newly approved capital appropriations for 1,000 manufacturing
corporations (and the backlog of capital appropriations) registered further
substantial increases in the second
quarter, and long-term interest rates
declined,
Residential investment
Real residential investment declined
13^2 percent in the second quarter, following a 5-percent decline in the first.
Single-family construction more than
accounted for the second-quarter decline. In multifamily construction, a
fourth consecutive quarterly increase
accompanied a declining rental vacancy rate; in the "other" component
(which includes additions and alterations, major replacements, mobile
home sales, and brokers' commissions),
a small decline reflected a drop in
commissions.
In the second quarter, the drop
in single-family construction reflected
drops in single-family starts in the
first and second quarters. Starts declined 68,000 (seasonally adjusted annual rate) in the first quarter and
76,000 in the second (chart 2). Building permits for single-family construction also declined by similar amounts.
The declines in actual and prospective construction are consistent with
declining sales activity. Sales of new
and existing houses declined 204,000
in the second quarter after a decline
of 349,000 in the first. At June sales
rates, the unsold inventory of new
houses amounted to 7 months supply.
Higher house prices partly offset the
effect of lower mortgage interest rates
(chart 3).
In the fourth quarter, farmers maintained market sales in the face of a
drought-depressed level of output by
drawing down inventories. With the
first-quarter rebound of farm output to
a level not affected by the drought, inventory liquidation gave way to modest
accumulation. In the second quarter,
as inventories increased further, transactions with the CCC swung from net
redemptions to net placements.
July 1989
Nonfarm inventories
increased
$191/2 billion in the second quarter,
somewhat more than in the first quarter but much less than in the second half of 1988. The second-quarter
pick-up was in nondurables manufacturing and durables wholesale trade
inventories. Retail trade inventories
increased slightly, as accumulation of
nondurables more than offset liquidation of durables; auto dealers' inven-
CHART 2
Housing Starts
Million of units
2.5
2.0
• Total H--
1.5
1.0
0.5
1985
1986
1987
1988
1989
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
CHART 3
Selected Interest Rates
Percent
15
Inventory investment
Real inventory investment—that is,
the change in business inventories—
declined $2:/2 billion in the second
quarter, as inventory accumulation
slipped to $22 billion from $24*/2 billion in the first quarter (table 4). In
contrast, inventory investment had increased $6 billion in the first quarter. The downswing was more than accounted for by farm inventories.
Farm inventories increased $2x/2 billion in the second quarter, following
an increase of $7x/2 billion in1 the first
quarter and a decline of $13 /2 billion
in the fourth. The fourth- and first reflected BEA's allocaquarter changes
http://fraser.stlouisfed.org/of the 1988 drought.
tion of the impact
Federal Reserve Bank of St. Louis
1985
1986
Data: FRB, FLHLMC.
U.S. Department of Commerce, Bureau of Economic Analysis
1987
1988
1989
SURVEY OF CURRENT BUSINESS
July 1989
Merchandise
exports increased
changed at 3.05; the ratio has been in
1/
the range of 3.05 to 3.07 since the first $H 2 billion (or 13 percent) in the second quarter after increasing $14 billion
quarter of 1988.
(or 16x/2 percent) in the first. Agricultural exports accounted for the slowNet exports
down, reflecting a decline in wheat
Real net exports increased $2!/2 bil- shipments. Nonagricultural exports
lion in the second quarter, following increased at the same rate in both
3. The change in auto dealers' inventories (table 4)
a $19 billion increase in the first (ta- quarters; all major end-use categories
differs from the change in motor vehicle inventories (table 1). Most importantly, inventories of manufactur- ble 5). All of the slowdown was in net increased in the second quarter except
ers and wholesalers are excluded from auto dealers' inexports of merchandise; net exports of autos and "other," both of which regisventories but are included in motor vehicle inventories.
services declined the same amount in tered very small declines.
(Wholesalers account for a substantial portion of foreign
both quarters.
car inventories.)
Merchandise imports increased $8
billion (or 7 percent) in the second
quarter after declining $6 billion (or 5
Table 4.—Change in Real Business Inventories
percent) in the first. Both petroleum
and nonpetroleum imports contributed
[Billions of 1982 dollars; seasonally adjusted at annual rates]
to the turnaround, but the contribuLevel
Change from preceding quarter
tion of petroleum imports was much
1989
1988
1988
1989
larger. Within nonpetroleum imports,
I
II
I
II
IV
III
IV
III
II
consumer goods registered the largest
upswing.
Change in business inventories
21.5
-19.2
22.0
24.5
18.3
37.5
6.2
16.0
-2.5
Exports of services increased $3^2
Farm
.
,
2.4
-13.6
.3
-4.0
21.2
7.6
-5.2
-13.9
4.3
billion and imports of services in25.4
Nonfarm
..
37.2
19.6
16.9
31.9
-15.0
-5.3
2.7
11.8
Manufacturing
8.4
12.2
4.2
6.4
3.8
5.8
-8.4
1.6
creased $5 billion. In both cases, the
4.6
Wholesale trade
-2.4
9.8
2.8
4.7
-7.9
7.0
-4.3
7.1
1.9
increases were slightly less in the secRetail trade
8.4
13.3
12.2
1.8
-3.2
-1.7
1.1
11.6
-6.6
Auto dealers
.
.
. .
8.6
10.0
2.4
-1.4
-1.0
9.0
6.6
-2.0
-10.0
ond quarter than in the first, and both
Other retail trade
2.2
-.6
5.0
4.7
.3
2.8
-5.6
3.4
2.5
Other
6.2
6.2
8.3
-2.1
2.1
7.1
4.6
.9
-2.5
slowdowns were more than accounted
Addendum:
for by investment income.
Nonfarrn less auto dealers
7.9
25.3
28.6
15.5
-17.4
20.6
-3.3
13.1
12.7
tories declined after three quarters of
substantial increase, and other retail
durables declined for the second consecutive quarter.3
The constant-dollar ratio of total inventories to total final sales was un-
NOTE.—Dollar levels for most inventories are found in table 5.11 of the "National Income and Product Accounts Tables."
Government purchases
Table 5.—Real Net Exports of Goods and Services
[Seasonally adjusted at annual rates]
Percent change from preceding
quarter
Billions of 1982 dollars
Level
Change from preceding quarter
1988
1988
1989:11
IV
ni
II
I
IV
-52.6
Exports
Merchandise
.
. . .
.
Imports
Merchandise
Petroleum
Nonpetroleum
Services .
.
.
-2.3
1.1
18.8
12.2
5.1
-2.6
7.7
7.2
19.5
14.5
0
14.4
5.0
18.3
13.9
3.9
10.1
4.4
15.4
11.7
1.4
10.2
3.7
14.6
11.8
1.5
1CI.2
2.7
18.3
15.1
3.9
11.2
3.4
-.6
-6.0
-2.4
-3.6
5.3
13.1
8.2
6.0
2.2
4.9
14.0
16.4
50.6
13.1
9.4
11.3
13.2
14.7
12.9
7.7
12.6
-.4
13.5 -4.9
19.3 -10.2
12.3 -3.6
10.2
15.8
10.2
10.7
7.3
11.4
8.2
n
15.5
18.0
0
20.1
11.1
9.7
6.2
-24.2
10.7
16.9
I
8.7
7.0
30.2
2.3
14.0
2.4
585.1
384.2
41.5
342.6
200.9
637.7
485.6
93.9
391.7
152.1
Net exports of goods and services
Nonagriculture .
Services
m
1989
1989
NOTE.—Percent changes in major aggregates are found in table 8.1 of the "National Income and Product Accounts Tables." Dollar levels are
found in tables 4.2 and 4.4.
Table 6.—Real Government Purchases of Goods and Services
[Seasonally adjusted at annual rates]
Percent change from preceding
quarter
Billions of 1982 dollars
Level
Change from preceding quarter
1989
1988
1989
1988
1989:11
Government purchases of goods and services
Federal
National defense
.
Commodity Credit Corporation inventory change
Other
State and local
Structures
Other
«
;
ni
IV
I
II
III
IV
I
807.6
-7.1
30.5
-6.7
7.9
-3.6
16.7
-3.3
4.0
341.3
256.1
85.1
1.2
83.9
-8.1
-3.7
-4.4
-.5
-3.9
24.1
2.8
21.3
17.9
3.4
-8.4
-7.2
-1.2
-1.1
-.1
5.8
1.7
4.0
4.5
-.5
-9.5
-5.5
-24.3
33.7
4.4
231.3
-9.4
-10.6
-5.7
7.1
2.7
21.2
-17.1
17.9
466.3
57.2
409.2
1.0
-2.1
3.1
6.4
3.3
3.0
1.7
-1.3
3.0
2.1
-.8
3.1
.9
-13.7
3.2
5.7
25.7
3.0
II
-.5 ""-23
1.5
-8.5
3.0
1.8
-5.4
3.1
NOTE.—Percent changes in major aggregates are found in table 8.1 of the "National Income and Product Accounts Tables." Dollar levels are
found in table 3.8B.
Real
government
purchases
increased $8 billion (or 4 percent) in
the second quarter, following a decline
of $6]/2 billion (or 3*/2 percent) in the
first (table 6). A turnaround in Federal Government purchases reflected
upswings in both defense and nondefense purchases; State and local government purchases increased slightly
more in the second quarter than in the
first quarter.
Federal defense purchases increased
$l1/2 billion, following a decline of $7
billion in the first quarter. The upswing was in all categories of defense
purchases except military hardware,
which declined in both quarters.
In Federal nondefense purchases,
CCC inventories increased $1 billion in
the second quarter after being drawn
down for eight consecutive quarters.
The swing largely reflected net placements of corn and soybeans with the
CCC under the commodity loan program. Federal nondefense purchases
excluding CCC inventory purchases
declined slightly in the second quarter
after little change in the first.
In State and local government purchases, purchases other than structures continued to increase at a modest
rate; structures declined again.
SURVEY OP CURRENT BUSINESS
6
Prices
Increases in GNP prices and in gross
domestic purchasesx prices xhave been
in the range of 4 /2 to 5 /2 percent
for five consecutive quarters. In the
first and second quarters, GNP prices
were up 5 percent and gross domestic purchases prices were up 6^2 percent (table 7). The first-quarter increases in each of these price measures
was boosted 0.5 percentage point by
the combined effect of (1) a 4.1-percent
pay raise for Federal Government employees and (2) an increase in the
Federal Government's contributions—
as an employer—for social insurance
programs. (Such increases in employee
compensation are treated in the NIPA's
as an increase in the price of employee
services purchased by the Federal
Government.)
The higher increases in gross domestic purchases prices than in GNP
prices in the first and second quarters reflected a recent upsurge in the
price of imported petroleum. (Changes
in import prices are reflected directly
in the price index for gross domestic
purchases but not in the GNP price
index.) Imported petroleum prices
jumped 115 percent in the first quarter
and 92^2 percent in the second, following five consecutive quarterly declines.
Prices of "other" merchandise imports
increased 2.6 percent in the first quarter and declined 1.3 percent in the sec-
Table 7.—Price Indexes (Fixed Weights): Change
From Preceding Quarter
[Percent change at annual rates; based on seasonally adjusted index
numbers (1982=100)]
19 88
19? 9
in
I
II
5.2
GNP
Less' Exports
Plus' Imports
IV
..
....
Equals: Gross domestic purchases
4.3
4.8
5.2
99
.3
24
42
1.6
8.6
2.7
6.3
4.3
4.5
5.5
5.6
43
45
5.5
5.5
4.6
85
4.9
46
4.8
56
4.7
6.4
79
31.5
Less' Change in business inventories
Equals: Final sales to domestic
Personal consumption expenditures
Food
Energy
Other personal consumption
expenditures
Nonresidential structures
Producers' durable equipment
Residential investment
Government purchases
Addenda:
Merchandise imports
Petroleum and products
Other merchandise
23
4
39
55
54
45
46
5.3
41
44
1.0
.3
4.8
2.6
4.4
5.8
3.1
6.9
4.7
3.5
8.0
3.5
-22
27
11 1
113.8
2.6
93.8
-1.3
-23.0 -33.7
.9
8.1
76
NOTE.—Percent changes in major aggregates are found in table 8.1
of the "National Income and Product Accounts Tables." Most index
number levels are found in tables 7.1 and 7.3.
ond, as prices of autos and of capital
goods (except autos) drifted down.
PCE prices jumped 6^2 percent in
the second quarter, following two quarters of 5-percent increases. The stepup was more than accounted for by food
and energy prices; "other" PCE prices
were up a little less in the second quarter than in the first. Food prices increased 8 percent after a 5 ^-percent
increase; the pickup was largely in
prices of meat, eggs, and vegetables.
Energy prices surged 31 ^2 percent, as
prices of gasoline and oil increased
sharply after a small increase; prices
of electricity and gas changed little after a moderate increase. "Other" PCE
prices slowed slightly to a 4-percent increase; the slowdown was largely in
prices of durable goods, particularly in
autos and in furniture and equipment.
Among other components of final
sales, prices of fixed investment slowed
slightly to a 41/2-percent increase in
the second quarter; a deceleration in
PDE prices was largely traceable to
trucks and autos. Prices of government purchases slowed sharply to a
3 ^-percent increase; one-half of the
deceleration was attributable to the effect of the first-quarter Federal pay
raise and increased payments of social
security taxes by the Federal Government for its employees.
Personal Income
Personal income increased $781/2 billion in the second quarter, following a
$1321/2 billion increase in the first (table 8). Nearly all of the major components of personal income contributed
to the deceleration. Personal saving
declined slightly after a substantial
increase.
Wage and salary disbursements increased $46 billion in the second quarter, $9*/2 billion less than in the first.
Government wages and salaries, which
had been boosted $4x/2 billion in the
first quarter by a pay raise for Federal
Government and Postal Service employees, accounted for almost one-half
of the deceleration. In private wages
and salaries, the deceleration was concentrated in manufacturing, where average weekly hours declined and employment and average hourly earnings
increased less in the second quarter
than in the first.
Farm proprietors' income declined
$6]/2 billion in the second quarter, following a $27 billion increase in the
first. Federal agricultural subsidy pay-
July 1989
ments declined in both quarters. Farm
proprietors' income excluding subsidies
declined $!1/2 billion after a $28^2 billion jump. The second-quarter decline
was largely due to lower farm product;
the first-quarter jump reflected a sharp
increase in crop prices and the return
of farm output to a level not affected
by the drought. Nonfarm proprietors'
income increased somewhat less in the
second quarter than in the first, reflecting slowdowns in construction and retail trade.
Transfer payments increased $10 billion, considerably less than in the first
quarter. In the first quarter, costof-living increases in social security
and several other Federal retirement
and income support programs, as well
CHART 4
Selected Personal Income
and Saving Measures
Billion $
150
CHANGE IN PERSONAL INCOME
120
90
60
I
30
Percent
10
CHANGE IN REAL DPI
II .illi.nl
-5
-10
Percent
10
PERSONAL SAVING RATE
1986
1987
1988
1989
Based on Seasonally Adjusted Annual Rates
Note.—Changes are from preceding quarter.
U.S. Department of Commerce, Bureau of Economic Analysis
July 1989
as retroactive payments to recent retirees, had added $13 billion to the
increase.
Among the remaining components of
personal income, increases in other labor income and personal dividend income were similar to those in the first
quarter. Rental income declined for
the third consecutive quarter. Personal interest income increased somewhat less than in the first quarter; the
slowdown reflected declines in interest
rates.
Personal contributions for social insurance, which are subtracted in deriving the personal income total, increased considerably less than in the
first quarter when several program
changes had added $6 billion.
Personal tax and nontax payments
increased $23x/2 billion in the second
quarter, following a $301/2 billion increase in the first. The effects of the
Tax Reform Act of 1986 boosted payments in both quarters—$8 billion in
the second quarter and $18 billion in
the first—as taxes were paid on income that had been deferred in earlier
periods.
Disposable personal income (DPI) increased $55 billion (or 6 percent) in
the second quarter, compared with a
$102 billion (or 12-percent) increase in
the first. Reflecting this slowdown and
the pickup in PCE prices, real DPI increased ^2 percent after a G^-percent
increase in the first quarter.
Personal outlays increased about the
same amount in both quarters; thus,
the deceleration in current-dollar DPI
SURVEY OF CURRENT BUSINESS
carried through to personal saving, dipped 0.2 percentage point to 5.4
which declined after a substantial in- percent, interrupting a three-quarter
crease.
The personal saving rate uptrend.
Table 8.—Personal Income and Its Disposition
[Billions of dollars; seasonally adjusted at annual rates]
Change from preceding quarter
Level
1988
1989:11
Wage and salary disbursements
Commodity-producing industries
Manufacturing
Other
Distributive industries
Service industries
Government and government enterprises
. ..
2,606.6
733.1
549.5
183.6
610.2
789.7
473.5
m
1989
n
I
IV
46.8
10.8
8.0
2.8
10,0
19.5
6.5
52.9
13.1
10.9
2.2
9.5
23.7
6.7
246.0
5.2
5.4
4.8
4.7
355.1
52.6
302.6
-4.8
-7.7
2.8
1.3
-5.7
7.0
31.0
27.0
4.0
-4.2
-6.4
2.3
8.7
111.4
655.1
1.7
3.2
16.3
-.2
2.8
22.3
-4.3
3.0
30.4
-3.1
2.0
26.1
Transfer payments
626.2
5.6
6.4
22.6
9.8
Less' Personal contributions for social insurance
212.9
3.0
3.2
10.4
2.9
4,396.2
71.0
87.6
132.6
78.4
651.6
-4.8
-15.6
10.8
11.9
-.4
12.3
30.5
18.8
11.7
23.3
9.6
13.7
55.0
Other labor income
. ..
.
Proprietors' income
.
Nonfarm
Rental income of persons...
Personal dividend income
Personal interest income
Personal income
Less' Personal tax and nontax payments
Impact of the Tax Reform Act of 1986 l
Other
.
.
55.6
11.9
8.2
3.7
11.3
21.7
10.6
45.9
6.5
3.3
3.3
11.4
21.3
6.6
3,744.5
75.8
75.7
102.1
Less: Personal outlays
3,540.9
60.2
61.9
59.8
57.1
Equals: Personal saving
203.7
15.6
13.8
42.3
-2.0
.3
.3
4.4
Equals: Disposable personal income
Addenda: Special factors in personal income:
In wages and salaries:
Federal Government and Postal Service pay adjustments
...
.3
In farm proprietors' income:
-11.9
In transfer payments:
Social security retroactive payments
Cost-of-living increases in Federal transfer payments
In personal contributions for social insurance:
Social security rate and base changes, the initial premiums under the
medical catastrophic coverage, and an increase in the premium for
supplementary medical insurance
-.6
.
14.2
-1.7
-.1
1.2
11 8
-5.0
-.3
6.1
1. Estimates of the impact of the Tax Reform Act of 1986 on Federal Government personal tax payments and indirect effects on State and
local government personal tax payments.
NOTE.—Most dollar levels are found in table 2.1 of the "National Income and Product Accounts Tables."
The U.S. National Income and Product Accounts:
Revised Estimates
. Annual 1986-88
. Quarterly 1986:1-1989:1
iN this issue of the SURVEY OF CURRENT
BUSINESS, the Bureau of Economic
Analysis presents the revised estimates of the national income and product accounts (NIPA's) for the years
1986-88 and the quarters from the
first quarter of 1986 through the first
quarter of 1989.
As is usual in
July, source data that are more complete, more detailed, or otherwise more
appropriate than the data previously
available have been incorporated into
the estimates, and seasonal factors
have been updated. This July, methodological changes were largely confined
to those made in connection with the
June 1989 revision to the U.S. balance
of payments accounts.
The first section of this article discusses the impact of the revisions on
CHART 5
Real Gross National Product
Billion 1982 $
4200
LEVELS
Revised
4100
\
4000
Previously Published
3900
3800
3700
Percent 1986
1987
I t
1988
1989
several aspects of economic activity,
the second section provides a summary of the revisions and the major
source data underlying them, and the
third section describes the changes in
methodology made this July and summarizes the source data and methods used to prepare the NIPA estimates. Appendix A to this article
shows the current-dollar annual previously published estimates, revised estimates, and revisions for condensed
versions of the five summary accounts
of the NIPA's. Appendix B shows the
revised 1988 annual estimates for the
full five summary accounts. The complete set of NIPA tables follows this
article.
Impact of the Revisions
By either the previously published
estimates or the revised estimates, the
economy continued to grow at a moderate pace over the 3-year period covered
by the revisions. Growth in production was somewhat stronger in the revised estimates: From the first quarter
of 1986 to the first quarter of 1989, the
growth rate (average annual rate of increase) for real GNP was revised up 0.2
percentage point—from 3.1 to 3.3 percent (table I).1 Growth in U.S. demand
was unrevised at 2.8 percent. Average
annual rates of change for most major
components were not much different
than previously estimated. The largest
differences were for imports and nonresidential structures: On the revised
basis, imports was not quite as strong,
increasing 7.5 percent instead of 8.5
percent; nonresidential structures fell
off more, dropping 5.6 percent instead
of 4.6 percent.
By either set of estimates, inflation
was moderate over the 3-year period.
From the first quarter of 1986 to the
first quarter of 1989, the average annual rates of increase in GNP prices
and in gross domestic purchases prices
were unrevised at 3.9 and 4.0 percent,
respectively (table 2). Average annual
rates of price change for the major components were not much different than
previously estimated.
Thus, the overall picture of economic
growth and inflation was not significantly different on the basis of the revised estimates. However, for the components discussed below, in which the
level as well as the rate of change are
CHART 6
GNP Price Index (Fixed Weights)
Index, 1982=100
128
LEVELS
x
Revised
124
120
Previously Published
116
112 I I I I L_J
Percent 1986
I I I I I L
1987
1988
I
I I
1989
PERCENT CHANGES
fffil Revised
[""I Previously Published
5 -
1986
1987
1988
1989
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
89-7
1. Comparisons in this section cover the timespan
from the earliest quarter (1986:1) through the latest quarter (1989:1) for which estimates were revised.
Users should be aware that, as a result of this year's
July revision, a discontinuity occurs between the estimates for 1985 (and earlier), which were not revised,
and the estimates for 1986 (and later), which were revised. See the box on page 21 of this article for a discussion of this discontinuity.
1986
1987
1988
1989
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis.
j
SURVEY OF CURRENT BUSINESS
July 1989
of interest, the revised estimates do
present a different picture.
Inventory investment.—The revised
estimates show considerably lower
rates of inventory accumulation than
had been indicated in the previously
published estimates. The change in
real business inventories was revised
down in each quarter. By the first
quarter of 1989, the revised level of
real business inventories was $896.6
billion—$37.9 billion below the previously published level.
Farm inventories were revised down $5.3 billion, and nonfarm inventories were
revised down $32.7 billion. Almost
one-half of the downward revision in
nonfarm inventories was in "other"—
mainly the mining, construction, and
services industries—inventories, but
manufacturing, wholesale trade, and
retail trade inventories were also revised down.
The downward revisions in inventories combined with upward revisions in
final sales led to progressively larger
downward revisions in the constantdollar aggregate inventory-sales ratios.
By the first quarter of 1989, the ratio of total inventories to total business
final sales was revised down 0.15 to
3.05. Thus, the revised ratios present
an even "leaner" picture of inventories
than previously indicated.
Net exports.—By 1988, net exports
was revised up substantially—from
-$100.2 billion to -$74.9 billion in
constant dollars and from -$94.6 billion to -$73.7 billion in current dollars. A large part (one-half in current dollars) of the difference in the
levels of the previously published estimates and the revised estimates stems
from new or improved estimates for
a range of services—business, professional, and technical services, travel
and passenger fares, and students' expenditures. The introduction of these
estimates for 1986-88 raised the level
of exports more than the level of imports throughout the period. The remainder of the difference is mainly due
to a revised view of income on direct
investment in 1988—a larger increase
in profits received on U.S. investment
abroad and a smaller increase in profits paid to foreigners on investments in
the United States.
Saving and investment.—Although
the NIPA measure of gross investment
was revised only modestly in 1988, its
composition was altered. Private domestic investment was $16.2 billion
lower on the revised basis, largely reflecting the lower rate of inventory
accumulation, and net foreign investment was a smaller negative amount,
Table 1.—Revisions in Real GNP and in Real Gross Domestic Purchases Over the Period 1986:1-1989:1
[Billions of 1982 dollars, seasonally adjusted annual rates]
Previously published
1986:1
1989:1
Dollar
Gross national product
The revised estimates, along with the
estimates for 1985 and earlier years, are
available on diskette and on magnetic tape.
To obtain an order form indicating the technical specifications of the diskettes and
tapes and their cost, write, to the National
Income and Wealth Division (BE-54), Bureau of Economic Analysis, U.S. Department of Commerce, Washington DC 20230
or call (202) 523-0669.
Percent
(annual rate)
Change from
1986:1 to
1989:1
1986:1
1989:1
Dollar
Percent
(annual rate)
Dollar
Percentage
point
3,719.3
4,077.5
358.2
385.7
3.3
27.5
0.2
374.5
490.2
540.7
626.6
166.2
136.4
13.0
8.5
392.9
502.9
569.7
624.6
176.8
121.7
13,2
7.5
10.6
-14.7
.2
-1.0
3,834.9
4,163.4
328.5
2.8
3,831.0
4,161.8
330.8
2.8
2.3
2,415.1
363.3
870.4
1,181.4
2,634.9
412.3
911.5
1,311.1
219.8
49.0
41.1
129.7
2.9
4.3
1.5
3.5
2,410.9
363.7
870.1
1,177.1
2,641.0
419.3
915.0
1,306.7
230.1
55.6
44.9
129.6
3.1
4.9
1.7
3.5
10.3
6.6
3.8
-.1
.2
.6
.2
0
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Change in business inventories
Nonfarm
678.0
632.4
446.8
145.1
301.7
185.5
45.7
43.2
24
730.2
694.8
500.5
125.9
374.6
194.3
35.5
26.2
92
52.2
62.4
53.7
-19.2
72.9
8.8
-10.2
-17.0
6.8
2.5
3.2
3.9
-4.6
7.5
1.6
676.1
634.2
448.5
144.0
304.5
185.7
41.9
37.4
4.5
721.1
696.6
501.0
121.1
379.9
195.6
24.5
16.9
7.6
45.0
62.4
52.5
-22.9
75.4
9.9
-17.4
-20.5
3.1
2.2
3.2
3.8
-5.6
7.7
1.7
-7.2
0
-1.2
-3.7
2.5
1.1
-7.2
-3.5
-3.7
-.3
0
-.1
-1.0
.2
.1
Government purchases of goods and services
Federal
National defense
741.8
322.7
241.1
81.6
419.1
798.2
335.8
256.6
79.1
462.4
56.4
13.1
15.5
-2.5
43.3
2.5
1.3
2.1
-1.0
3.3
744.1
324.4
241.2
83.3
419.6
799.7
335.5
254.4
81.1
464.2
55.6
11.1
13.2
-2.2
44.6
2.4
1.1
1.8
-.9
3.4
-.8
-2.0
-2.3
.3
1.3
-.1
-.2
-.3
.1
.1
3,673.6
.. 3,789.3
4,042.0
4,127.9
368.4
338.6
3.2
2.9
3,679.2
3,789.1
4,082.3
4,137.3
403.1
348.2
3.5
3.0
34.7
9.6
.3
.1
Less: Exports
Plus' Imports
Equals: Gross domestic purchases
Personal consumption expenditures
Durable goods
Nondurable goods
. . ..
Services
State and local
Addenda:
Final sales
Final sales to domestic purchasers
3.1 3,721.1 4,106.8
0
Table 2.—Revisions in the GNP Price Index (Fixed Weights) and in the Gross Domestic Purchases Price
Index (Fixed Weights) Over the Period 1986:1-1989:1
[Index numbers (1982=100), seasonally adjusted]
Previously published
Revised
Revision in
percent
change,
percentage
point
1986:1
Personal consumption expenditures
Durable goods
Nondurable goods
Services
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Change in business inventories
Government purchases of goods and services
Federal
National defense
Nondefense
State and local
Addenda:
Final sales
Final sales to domestic purchasers
1989:1
Percent
change
(annual
rate)
127.6
3.9
113.8
127.7
3.9
0
114.1
108.4
3.1
4.2
103.6
95.9
113.7
109.5
3.1
4.5
0
.3
127.2
4.0
113.1
127.4
4.0
0
114.3
105.8
108.3
120.8
. .
1986:1
113.1
,
Percent
change
(annual
rate)
104.0
95.8
Less' Exports
Plus: Imports
1989:1
113.8
Gross national product..
Equals: Gross domestic purchases
Data Availability
Revision in
change
Revised
Change from
1986:1 to
1989:1
129.5
114.6
120.8
139.6
4.2
2.7
3.7
4.9
114.3
105.7
108.4
120.8
129.6
114.7
121.0
139.8
4.3
2.8
3.7
5.0
.1
.1
0
.1
104.7
103.3
101.3
104.6
109.7
114.0
111.8
110.6
112.5
121.8
2.9
2.7
3.0
2.5
3.5
104.7
103.3
101.5
104.5
109.7
114.1
111.8
110.5
112.7
121.8
2.9
2.7
2.9
2.6
3.5
-.1
.1
114.9
110.9
111.3
110.0
117.8
128.9
121.6
120.9
123.2
134.3
3.9
3.1
2.8
3.8
4.5
114.9
110.9
111.3
110.0
117.8
129.4
122.3
122.0
123.0
134.7
4.0
3.3
3.1
3.8
4.6
.2
.3
0
.1
113.7
113.0
127.5
127.0
3.9
4.0
113.7
113.0
127.6
127.3
3.9
4.1
0
0
0
0
.1
.1
10
SURVEY OF CURRENT BUSINESS
largely reflecting the revision in net exports. Negative net foreign investment
can be thought of as foreign saving invested in the United States; on the revised basis, this saving was $18.7 billion lower.
For domestic saving, the revised
estimates indicate more private saving and more public dissaving. In
1988, the Federal deficit was somewhat larger on the revised basis, and
the State and local surplus was substantially smaller. For State and local governments, the fiscal position appeared stronger than previously estimated for social security funds, where
the surplus was larger on the revised
basis, but much weaker for "other"
funds. The "other" funds deficit on the
revised basis was $8.1 billion larger in
1988. From a surplus of $5.6 billion
in 1986, State and local government
"other" funds are now shown dropping
to deficits of $12.4 billion in 1987 and
$21.4 billion in 1988.
The difference between gross private
saving and gross private domestic investment as a percent of GNP is an indicator of the extent to which domestic
investment is financed by private domestic saving. This indicator was 0.5
percentage point higher in 1988 on the
revised basis. Although the indicator is
also higher on a revised basis for 1987
and 1986, the average for 1986-88 is
still well below longer run averages.
Summary of the Revisions
The incorporation of newly available
source data and changes in methodology leads to revisions in currentdollar estimates and in estimates of
prices. In turn, these revisions lead to
revisions in constant-dollar estimates.
This section describes the revisions in
the current-dollar, price, and constantdollar NIPA estimates for 1986, 1987,
and 1988 and for the first quarter of
1986 through the first quarter of 1989.2
Annual revisions in current dollars
The level of current-dollar GNP was
revised down $8.7 billion, or 0.2 percent, in 1986; down $2.4 billion, or 0.1
percent, in 1987; and up $16.3 billion,
or 0.3 percent, in 1988. The downward
revisions in GNP for the first 2 years
(1986 and 1987) this July contrasted
with the upward revisions for the first
2 years in the last two July revisions;
the size of the revisions for the first 2
years, however, was about in line with
those in the last two July revisions.
The upward revision in GNP for the
most recent year (1988) was smaller
than the upward revisions for the most
2. This section covers the regularly featured price
and constant-dollar GNP estimates, which are based on
1982 weights. Revised estimates based on 1987 weights
will appear in the August 1989 issue of the SURVEY.
July 1989
recent year in the last two July revisions. This July, the largest dollar revisions among the major components of
GNP were in personal consumption expenditures, change in business inventories, and net exports.
The level of charges against GNP—
that is, gross national income—was revised down $20.5 billion, or 0.5 percent, in 1986; down $5.8 billion, or
0.1 percent, in 1987; and up $11.6
billion, or 0.2 percent, in 1988. The
revision in gross national income for
the first year (1986) was considerably
larger than the first-year revisions in
the last two July revisions; the upward
revision in gross national income for
the most recent year (1988) was considerably smaller than the upward revisions in the last two July revisions.
The largest dollar revisions among the
major components of gross national income were in corporate profits.
The following is a list of the newly
available major source data underlying the current-dollar NIPA revisions and the years into which these
data were directly incorporated: Annual data from four Census Bureau
sources—Annual Retail Trade Survey
for 1987, Annual Trade Survey (wholesale trade) for 1987, Service Annual
Survey for 1986-88, and surveys of
State and local government finances
for 1986-87; Internal Revenue Service (IRS) tabulations of tax return
Acknowledgments
Gerald F. Donahoe, Chief of the National Income and Wealth Division,
supervised the preparation of the revision of the national income
and product accounts of the United States. Joseph C. Wakefield,
Chief of the Government Division, and Richard C. Ziemer directed
major parts of the revision. Robert P. Parker, Associate Director
for National Economic Accounts, provided overall supervision. Norman E. Bakka developed the major computer systems used in the
revision. Shelby W. Herman assisted in the review of the estimates.
Other BEA staff who made significant contributions to the revision
are listed below.
The article describing the revisions was written by Douglas R. Fox.
Mira A. Piplani prepared the tables in the article.
Personal consumption expenditures—Clinton P. McCully, M. Greg
Key, Everette P. Johnson, Moses J. Branch, Ellen B. Arroyo.
Investment—David W. Cartwright, Scott D. Smith. Structures—
Brooks B. Robinson. Producers' durable equipment—Jeffrey W.
Crawford. Inventories—Stephen P. Baldwin, Karen P. Spencer, Felicia V. Candella.
Net exports—Leo M. Bernstein, Phyllistine M. Barnes.
Federal Government transactions—David T. Dobbs. Receipts and
expenditures—Hermione A. Anglin, Gary W. Davis, Kiran Duwadi,
Charles D. Uthus. Constant-dollar estimates—Karl D. Galbraith,
James E. Boucher, Pamela A. Kelly, Raymen G. La Bella, Robert T.
Mangan, Tamara M. Mast, Claire G. Pitzer, Abner Sachs, Gregory
Y. Won.
State and local government transactions—David F. Sullivan.
Constant-dollar estimates and computer services—Donald L. Peters.
Transfers and contributions—Richard D. Melchionno.
Measures of price change—Shelby W. Herman.
Income—Eugene P. Seskin.
Farm output and income—George M. Smith.
Personal income—Arthur L. Sensenig. Wages and salaries—Pauline
M. Cypert, Kathryn A. Comins. Other labor income—James E.
Rankin. Other contributors to the personal income estimates include Thae S. Park and Mary V. Pitts.
Business income—Kenneth A. Petrick. Corporate profits—Sharon P.
Montgomery, Dorothy G. Collins, Jerry L. Stone. Nonfarm proprietors' income—Willie J. Abney.
Property income—Mary W. Hook. Interest—Teresa L. Weadock.
Rental income of persons—Denise A. McBride.
Capital consumption allowances and adjustments—John A. Gorman,
John C. Musgrave, Mary E. Gray.
Industry product—Michael F. Mohr, Sherlene K. S. Lum, Vesta C.
Jones, Marilyn E. Baker, Mary Carol Barron.
Computer services—Norman E. Bakka, Phyllistine M. Barnes.
Table preparation and review—Jeanette M. Honsa, Norman E. Bakka,
Virginia H. Mannering, Phyllistine M. Barnes.
Secretarial—Eunice V. Blue, Gail P. Jones, Gwendolyn M. Robinson,
and Dorothy A. Wilson.
July 1989
data for corporations for 1986, for
sole proprietors and partnerships for
1987, and for individuals for 1987;
Bureau of Labor Statistics (BLS) tabulations of unemployment-insurancebased wage and salary data for 198688; and U.S. Department of Agriculture (USDA) farm statistics for
1986-88.
Other newly available source data
that were principal contributors to the
revisions for the most recent year
(1988) were the following: Revised
Census Bureau monthly retail sales,
revised Census Bureau monthly manufacturers' shipments, revised Census
Bureau monthly manufacturing and
trade inventories, revised Census, Bureau value of new construction put in
place, and Federal agency reports of financial institutions.
The following source data from the
Census Bureau were not available in
time for this July revision: Annual
Survey of Manufactures for 1987 (normally incorporated into the estimates
of personal consumption expenditures
for goods, producers' durable equipment, and change in business inventories), major parts of the American
Housing Survey for 1987 (personal consumption expenditures for services and
rental income of persons), and surveys of State and local government retirement funds for 1986-87 (government purchases and compensation of
employees).
Table 3 provides a guide to the annual NIPA revisions by identifying the
subcomponent series in which revisions were concentrated and by listing the major source data that underlie the revised estimates. It should be
noted that newly available source data
lead not only to a revision in the level
of an estimate for the year into which
they are directly incorporated, but often to revisions in levels for subsequent years. Referring to the information in table 3, the following sections
discuss the major revisions in NIPA
components.
Personal consumption expenditures
(PCE) for goods.—PCE goods was revised down $2.2 billion in 1986 and
$0.7 billion in 1987 and up $9.5 billion in 1988. The downward revision in
1986 largely reflected the incorporation
of newly available information into the
estimates of goods other than motor vehicles and gasoline and oil. In 1987
and 1988, gasoline1 and oil was revised
down, largely reflecting revised gasoline consumption data for 1987 from
SURVEY OF CURRENT BUSINESS
11
NIPA Table Changes
• Tables 6.1 and 6.2, containing estimates of gross national product by industry, are not
included in this issue. As previously announced, their release was postponed until later this
year in order to revise the estimates beginning in 1977 to incorporate several improvements
(see page 2 of the June 1989 SURVEY OF CURRENT BUSINESS).
• Tables 1.1, 1.2, 1.5, 1.6, 2.2-2.5, 4.1-4.5, and 8.1 reflect coverage beginning in 1986 associated with the incorporation of methodological changes in the balance of payments accounts.
Footnotes to the tables identify these changes. For more details, see the box on page 21 and
the methodological section of this article.
• Tables 4.3 and 4.4 reflect the incorporation of data to distribute "other" merchandise exports
to durable and nondurable goods beginning with 1986. The footnotes identify this change. For
more details, see the methodological section of this article.
the Federal Highway Administration.
In 1987 and 1988, used auto purchases
by consumers was revised up (largely
offset by a downward revision in used
auto sales by business in producers'
durable equipment), as a modification
in the procedure BEA uses to adjust
motor vehicle registration data from
R.L. Polk and Company indicated that
a higher volume of used cars had been
sold by business and purchased by consumers; purchases of recreational vehicles was revised down, reflecting the
incorporation of data from the 1987
Annual Retail Trade Survey. In 1988,
revisions in Census Bureau monthly
retail sales data led to higher estimates
of goods other than motor vehicles and
gasoline and oil, particularly of food.
PCE services.—PCE services was revised down $7.8 billion in 1986, $0.6
billion in 1987, and $2.0 billion in 1988.
In all 3 years, the PCE item net foreign
travel was revised down as a result
of the introduction of several methodological changes made during the June
1989 revisions to the U.S. balance of
payments accounts. (See the changes
in methodology section of this article.)
In 1987 and 1988, upward revisions
in other PCE services largely offset
the downward revisions in net foreign travel; these upward revisions
reflected the incorporation of newly
available data from the Census Bureau
Service Annual Survey and from a variety of other regular sources. The revisions were widespread; the largest
were in personal business in 1987 and
1988 and in personal care and in recreation in 1988. Within personal business, the 1987 revision was largely
accounted for by services furnished
without payment by banks, credit
agencies, and investment companies.
Medical care services was revised
down in all 3 years, largely reflecting
newly available data from the American Hospital Association and esti-
mates from the Health Care Financing
Administration.
Nonresidential structures.—Nonresidential structures was revised up $0.5
billion in 1986 and down $5.7 billion in 1987 and $2.5 billion in 1988.
The downward revisions in 1987 and
1988 were concentrated in mining exploration, shafts, and wells and in
public utilities. For mining exploration, shafts, and wells, newly available data from the Joint Association
Survey of the Oil and Gas Producing
Industry indicated a lower cost per foot
drilled than previously estimated; for
public utilities, newly available data
from several Federal regulatory agencies and trade sources lowered expenditures for electric light and power construction. In 1988, an upward revision in "other" nonfarm structures,
which was concentrated in industrial
and commercial buildings, was largely
due to revised Census Bureau data on
construction put in place.
Nonresidential producers' durable
equipment
(PDE).—Nonresidential
PDE was revised up $0.8 billion in
1986, $3.2 billion in 1987, and $1.2 billion in 1988. The upward revisions in
1987 and 1988 were largely traceable
to the incorporation of newly available
data on manufacturers' shipments of
computers for 1987 into the estimates
for office, computing, and accounting
machinery. Net sales of used autos
to consumers by business—a negative
entry in PDE—was revised down, particularly in 1988 (more than offset by
an upward revision in consumer purchases of used autos in PCE goods).
Residential investment.—Residential
investment was revised up $0.7 billion
in 1986, down $0.5 billion in 1987, and
Text continues on p. 15.
12
SURVEY OF CURRENT BUSINESS
July 1989
Table 3.—NIPA Revisions: Selected Component Detail and Major Source Data
Billions of dollars
NIPA component
Revision in level
Revised
1988
level
1986
1987 1988
Gross national product
-8.7
-2.4
16.3
4,880.6
Personal consumption expenditures...
-10.1
-1.3
7.6
3,235.1
-2.2
-.7
9.5
1,507.5
.9
2.3
5.5
43.0
-2.4
-3.1
.2
-1.8
-2.0
-2.3
2.0
9.9
-7.8
-.6
-2.0
1,727.6
3.1
43.0
Major source data incorporated
Goods
Of which:
Used autos
Recreational vehicles
Gasoline and oil
Goods other than motor vehicles and gasoline and oil...
Services..
Of which:
Personal care.
0
0
Revised stock of autos held by consumers for 1987-88; 1987 Annual Retail Trade Survey
sales and gross margin of used car dealers.
6.0 Revised Census Bureau retail sales for 1986-88; 1987 Annual Retail Trade Survey sales
data.
76.8 Revised Federal Highway Administration gasoline consumption data for 1986-87; Energy
Information Administration data on motor gasoline supplied for 1988.
1,242.9 BEA correction for 1986; 1987 Annual Retail Trade Survey sales data; and revised Census
Bureau monthly retail sales data for 1988.
Medical care....
Of which:
Hospitals..
-1.7
-2.6
-5.8
398.3
.3
-1.1
-2.6
182.3
Health insurance..
Personal business
Of which:
Services furnished without payment by banks,
credit agencies, and investment companies.
-2.0
-.2
-1.1
7.7
-1.0
1.7
6.2
91.1
-2.1
1.3
45.4
Revised Census Bureau Service Annual Survey (SAS) receipts data for 1987; new SAS data
for 1988.
Expense of handling life insurance
1.2
3.6
-5.5
-6.7
-9.5
2.1
-3.1
1.5
Foreign travel, net....
Nonresidential structures..
Of which:
Mining exploration, shafts, and wells..
-5.7
-2.5
140.3
-2.4
-2.6
10.5
-3.8
-4.2
26.1
.5
Public utilities-
Change in business inventories..
0
.3
-8.6
101.6
1.2
-.7
2.8
-2.7
4.0
-29.9
43.9
2.7
232.4
2.0
23.3
-1.7
1.3
59.2
American Petroleum Institute (API) Survey on oil and gas expenditures for exploration for
1987; Joint Association Survey of the Oil and Gas Producing Industry expenditures and
footage drilled for 1987; revised API footage drilled for 1988.
Electric light and power: Energy Information Administration end-of-year fixed assets data,
capital expenditures, and allowance for funds used during construction and BEA
tabulation of plant put in service by type of plant for 1986-87; Rural Electrification
Administration data on utility plant and interest charged during construction for 1986-87;
Census Bureau Plant and Equipment Expenditures Survey estimates for 1988.
Gas: American Gas Association capital expenditures data for 1987.
Revised Census Bureau value of new construction put in place for 1986-88.
346.8
1.1
.7
3.7
-.5
-.9
.1
Residential investment..
Of which:
Multifamily structures..
Additions and alterations, major replacements
100.8
3.2
Other nonfarm structures
Nonresidential producers' durable equipment.,
Of which:
Used autos
Office, computing, and accounting machinery..
IRS tabulations of corporate tax return data on profits of mutual financial institutions for
1986; Federal Deposit Insurance Corporation data and Federal Reserve Board flpw-offunds data on private pension plans for 1986-88; National Credit Union Administration
data and Federal Home Loan Bank Board data for 1988.
IRS tabulations of corporate tax return data for 1986; American Council of Life Insurance
expense data for 1987; BLS tabulations of unemployment-insurance-based wage and
salary data for 1988.
Revised Census Bureau Service Annual Survey (SAS) receipts data for 1987; new SAS data
for 1988; revised data from trade sources for 1986-87 and new data for 1988.
Revised BEA balance of payments accounts estimates for 1986-88.
719.6
Recreation
Fixed investment
2.9
American Hospital Association (AHA) expense data for FY 1987 for 1986-87; AHA
monthly data for 1988.
29.8 Health Care Financing Administration estimates for 1986-88.
234.4
-9.9 -17.8
See entry under PCE goods.
Shipments from Current Industrial Report "Computers and Office Accounting Machines"
for 1987; revised Census Bureau monthly manufacturers' shipments for 1986-88.
BEA correction for 1987; revised Census Bureau value of new construction put in place for
1988.
BEA correction for 1987; BLS Consumer Expenditure Survey and Census Bureau Landlord
Survey for 1988.
30.6
.1
.2
-9.7
-3.6
-8.8
-1.6
-10.2
-1.7
-8.0
-1.5
-.9
-1.7
-1.1
Retail trade
-1.1
-4.5
Other
-5.2
-2.3
34.2
9.1 Revised BEA estimates of cost of goods held in inventory for 1986-88; revised Census
Bureau monthly inventories 1987-88.
8.9 1986 revised Census Bureau Annual Trade Survey (ATS) inventory book values; 1987 ATS
inventory book values; revised Census Bureau monthly inventories for 1988.
8.3 1986 revised Census Bureau Annual Retail Trade Survey (ARTS) inventory book values;
1987 ARTS inventory book values; revised Census Bureau monthly inventories for 1988.
7.9 IRS tabulations of inventory book values from corporate tax returns for 1986; Census
Bureau Quarterly Financial Report for mining for 1988.
Farm
Nonfarm
Manufacturing
Wholesale trade..
See footnotes at end of table.
-2.4
USDA estimates for 1986-88.
13
SURVEY OF CURRENT BUSINESS
July 1989
Table 3.—NIPA Revisions: Selected Component Detail and Major Source Data—Continued
Billions of dollars
Revision in level
1987
1988
Revised
1988
level
7.0
10.4
20.9
-73.7
18.1
NIPA component
20.6
28.0
547.7
Revised BEA balance of payments accounts estimates for 1986-88.
4.8
116.7
BEA direct investment surveys for 1988.
1986
Major source data incorporated
Gross national product-—Continued
Net exports
Exports
Of which:
Factor income..
Of which:
Profits
Services other than factor income..
-.4
1.2
19.0
11.0
621.3
-.5
-3.6
83.4
-.5
11.2
-3.4
11.2
14.8
88.9
1.4
4.0
968.9
-.4
.3
381.3
1.7
3.7
587.6
2.9
69.3
-20.5
-5.8
11.6
4,890.2
4.3
6.6
2.9
2,907.6
1.0
-7.9
2,429.0
1.8
Charges against gross national product..
Compensation of employees
6.9
2.4
State and local
Of which:
Structures..
10.1
1.0
.3
. .7
Federal
58.5
108.9
0
10.9
Government purchases..
3.1
22.6
.1
Imports
,
Of which:
Factor income...
Of which:
Profits
Services other than factor income..
0
19.8
-8.2
1,982.5
Wages and salaries
Of which:
Private wages and salaries....
Supplements to wages and salaries.,..
Of which:
Other labor income
Of which:
Group health and life insurance...
3.5
5.7
10.8
4.9
10.6
4.4
Proprietors' income with IVA and CCAdj..
-4.7
-1.3
3.3
-1.4
-3.1
0
3.5
_2
288.0
-2.7
5.9
5.2
-.4
-5.8
-5.3
Revised BLS tabulations of unemployment-insurance-based wage and salary data for 198687; revised USDA estimates for 1986-87; inew BLS tabulations and USDA estimates for
;
1988.
327.8
-1.7
Electric light and power: BEA tabulation of Energy Information Administration data on
capital expenditures and allowance for funds used during construction for 1986-87.
Highways: Revised Department of Transportation (DOT) highway construction expenditures
for 1986; new DOT data for 1987.
Other: Census Bureau value of new construction put in place for 1986-88.
228.9
1.7
BEA direct investment surveys for 1988.
478.6
3.2
Revised BEA balance of payments accounts estimates for 1986-88.
Farm
'.,.
Nonfarm
,
Of which:
Proprietors' income..
,
CCAdj..
Rental income of persons with CCAdj..
142.8
39.8
Health Care Financing Administration estimates for 1986-88; U.S. Chamber of Commerce
data on employer contribution rates for group insurance for 1987.
USDA estimates for 1986-88.
259.2 Revised BEA estimates of tax misreporting adjustments for 1986; IRS tabulations of sole
proprietorship and partnership tax return data for 1987.
30.3 IRS tabulations of sole proprietorship and partnership tax return data for 1987; revised BEA
estimates based on revised fixed investment estimates for 1986-88; revised BEA estimates
of NIPA economic depreciation reflecting fixed investment and prices for 1986-88.
-3.6
15.7
-11.7
.2
328.6
-14.8 -10.0
.2
306.8
-18.7
-19.4
-15.6
107.3
IRS tabulations of corporate tax return data for 1986; public financial reports data on profits
for 1987-88.
Services
3.6
4.8
5.4
22.2
Rest-of-world..
1.2
2.7
6.6
43.7
IRS tabulations of corporate tax return data for 1986; public financial reports data on profits
for 1987-88.
Revised balance of payments accounts estimates for 1986-88; BEA direct investment
surveys for 1988.
Corporate profits with IVA and CCAdj .,
Of which:
Profits before tax
Of which:
Manufacturing.
See footnotes at end of table.
-16.8
Revised USDA estimates for 1986-88; IRS tabulations of individual income tax return data
on royalty income for 1987.
14
SURVEY OF CURRENT BUSINESS
July 1989
Table 3.—NIPA Revisions: Selected Component Detail and Major Source Data—Continued
Billions of dollars
NIPA component
Revision in level
1986
1987 1988
Revised
1988
level
-6.4
-1.9
-5.9
1.4
392.9
.6
Major source data incorporated
153.9
1,451.4
Charges against gross national product—Continued
Net interest
Net monetary interest
Interest paid
Of which:
Business..
,
Persons
Interest received..
Of which:
Business
Persons
Government
Net imputed interest
National income
Capital consumption allowances with CCAdj.,
Corporate
Noncorporate
Capital consumption allowances.,
Corporate
Noncorporate
Less: CCAdj
Corporate
Noncorporate....
Nonfactor charges...
Of which:
Indirect business tax and nontax liability..
Current surplus of government enterprises less subsidies....
Statistical discrepancy.
Addenda:
Personal income
Of which:
Wages and salaries, other labor income, proprietors'
income with IV A and CCAdj, and rental income of
persons with CCAdj.
Personal dividend income
Personal interest income
Less: Personal tax and nontax payments..
Equals: Disposable personal income.
Less: Personal outlays
Equals: Personal saving
CCAdj Capital consumption adjustment.
IVA Inventory valuation adjustment.
BLS Bureau of Labor Statistics.
IRS Internal Revenue Service.
USDA U.S. Department of Agriculture.
-5.8
1.4
2.6
2.6
0
1.4
-.7
.6
6.8
7.0
-5.2
-.3
-7.8
1.5
-.7
4.2
-24.5
-13.3
4.2
3,972.6
4.2
6.7
7.3
513.6
3.4
.8
3.1
3.1
0
5.6
1.1
6.0
1.3
-.5
4.8
-5.3
1.9
7.2
-5.3
-1.1
-.4
-.7
-7.2
-.8
-6.4
-5.3
1.2
-6.5
321.7
191.9
526.4
368.5 IRS tabulations of corporate tax return data on depreciation for 1986.
157.9 IRS tabulations of sole proprietorship and partnership tax return data on depreciation for
1987.
12.8
46.8
-34.0
-2.8
-5.6
2.4
1.5
4.5
-2.6
-.2
906.8 IRS tabulations of corporate tax return data on interest for 1986 and of sole proprietorship
and partnership tax return data for 1987; Federal Reserve Board flow-of-funds accounts
liability data, Investment Company Institute data, Federal Deposit Insurance Corporation
data, and Federal Home Loan Bank Board data for 1987-88.
338.1
116.7 Census Bureau Government Finances tabulations for FY 1987 for 1986-87; FY 1988
Federal budget data for 1987-88.
246.0 Life insurance and investment companies: IRS tabulations of corporate tax return data on
property income for 1986; American Council of Life Insurance data for 1987.
Commercial banks: Federal Deposit Insurance Corporation data for 1986-88.
Other: IRS tabulations of corporate tax return data on profits of mutual financial institutions
for 1986; National Credit Union Administration data and Federal Home Loan Bank Board
data for 1988; Federal Reserve Board flow-of-funds data on private pension plans for
1986-88.
.2
-.2
1,064.1 IRS tabulations of corporate tax return data on interest for 1986 and of sole proprietorship
and partnership tax return data for 1987; Federal Reserve Board flow-of-funds accounts
liability data, Investment Company Institute data, Federal Deposit Insurance Corporation
data, Federal Home Loan Bank Board data, and Federal Reserve Board mortgage loan
data for 1987-88.
96.1 Federal Reserve Board consumer installment credit for 1986-88.
1,451.4
Revised BEA estimates of NIPA economic depreciation reflecting revised fixed investment
and prices for 1986-88.
404.0
393.5 Federal: Treasury Department tax collections data for 1988.
State and local: Census Bureau surveys of revenues for 1986-87; Census Bureau quarterly
tax revenue data for 1988.
-18.5 Federal: USDA data on the Commodity Credit Corporation and budget data for other
government agencies for 1987-88.
State and local: Census Bureau surveys of expenditures for 1986-87.
11.8
3.4
4.7
-9.6
-4.9
-2.4
2.4
4,064.5
-1.5
-.4
2.4
3,001.4 See entries under charges against GNP.
3.0
3.4
5.9
-5.9
-3.8
-4.8
1.5
1.4
-3.7
-6.3
-3.8
6.0
-9.5
-1.4
3.2
-2.4
5.6
.4
102.2
571.1
IRS tabulations of corporate tax return data for 1986; regulatory agency and public financial
reports data on dividends for 1987-88.
See entries under net interest.
586.6 Federal: Social Security Administration d&a on contributions for 1987-88; Treasury
Department tax collections data for 1988.
State and local: Census Bureau Government Finances tabulations for 1986-87; Census
Bureau quarterly tax revenue data for 1988.
3,477.8
3,333.1
144.7
July 1989
Text continues from p. 11.
up $2.7 billion in 1988. The upward revision in 1988 was accounted for by the
incorporation of revised Census Bureau data on multifamily construction
put in place and of newly available
information on expenditures for additions and alterations and for major replacements from BLS and Census Bureau surveys.
Change in business inventories.—
The change in business inventories
was revised down $8.6 billion in 1986,
$9.9 billion in 1987, and $17.8 billion in 1988. The downward revisions were accounted for by nonfarm
inventories in 1986 and 1987 and by
both nonfarm and farm inventories in
1988. In 1986, most of the downward revision was in "other" (that is,
other than manufacturing and trade)
inventories, reflecting the incorporation of IRS tabulations of corporate
tax return data for 1986. In 1987
and 1988, "other" inventories again
was revised down; downward revisions
in manufacturing and trade inventories, which were widespread, reflected
newly available data from the Census Bureau annual surveys of inventory book values and revised Census
Bureau monthly inventory data. The
downward revision in farm inventories
in 1988 reflected the incorporation of
revised USDA estimates.
Net exports.—Net exports was revised up $7.0 billion in 1986, $10.4
billion in 1987, and $20.9 billion in
1988; upward revisions in exports exceeded upward revisions in imports in
all 3 years. The revisions in net exports, which were concentrated in services, largely reflected the revisions
to the U.S. balance of payments accounts released in June 1989. For both
exports and imports of services other
than factor income, several methodological changes were introduced that
substantially raised the estimates for
all 3 years.
(See the changes in
methodology section of this article.)
In 1988, profits from U.S. investment
abroad (part of exports of services in
the NIPA's) was revised up, and profits
from foreign investment in the United
States (part of imports of services in
the NIPA's) was revised down; these
revisions reflected the incorporation of
information from BE A surveys of direct
investment.
SURVEY OP CURRENT BUSINESS
Government
purchases.—Government purchases was revised up $1.0
billion in 1986, $1.4 billion in 1987, and
$4.0 billion in 1988; the upward revisions were mainly in State and local
government purchases. Within State
and local purchases, structures was revised up in 1987 and 1988, largely reflecting newly available data from the
U.S. Department of Transportation on
highway construction.
15
from IRS tabulations of individual income tax return data for 1987.
Corporate profits with IVA and
CCAdj.—Corporate profits was revised
down $16.8 billion in 1986 and $11.7
billion in 1987 and was revised little in
1988. The downward revisions in 1986
and 1987 largely reflected the incorporation of newly available IRS tabulations of corporate tax return data for
1986 into the estimates of profits before
tax. Within profits before tax, manufacturing profits was revised down
substantially in all 3 years, primarily reflecting revisions in petroleum
profits: The previously published estimates, which were based on Census
Bureau tabulations of quarterly financial reports, showed petroleum profits
of $4.8 billion in 1986 and $12.9 billion
in 1987; the revised estimates, based
on the IRS corporate tax information,
show losses of $10.1 billion in 1986 and
$1.0 billion in 1987. The sizable downward revisions were largely traceable
to differences in accounting methods
used in reporting to the IRS and to
the Census Bureau; BEA did not anticipate the effect of these differences
for 1986. For services, profits before
tax were revised up in all 3 years.
Profits from the rest of the world
was revised up in all 3 years, particularly in 1988. The upward revisions reflected the incorporation of information
from BEA surveys of direct investment,
which raised the estimates of profits
from U.S. investment abroad and lowered the estimates of profits from foreign investment in the United States.
Compensation
of
employees.—
Compensation of employees was revised up $4.3 billion in 1986, $6.6 billion in 1987, and $2.9 billion in 1988.
The upward revisions in all 3 years
were concentrated in supplements to
wages and salaries, primarily in other
labor income. Within other labor income, most of the revisions reflected
the incorporation of newly available
estimates from the Health Care Financing Administration and of data
from the U.S. Chamber of Commerce
into the estimates of employer contributions for group health and life
insurance. A downward revision in
wages and salaries in 1988, which was
mainly in the distributive industries,
reflected the incorporation of BLS tabulations of unemployment-insurancebased wage and salary data.
Proprietors' income with inventory
valuation adjustment (IVA) and capital
consumption adjustment
(CCAdj).—
Proprietors' income was revised down
$4.7 billion in 1986 and $1.3 billion
in 1987 and up $3.3 billion in 1988.
The revisions in all 3 years partly reflected the incorporation of revised estimates from the USDA into farm propriNet interest.—Net interest was reetors' income. Nonfarm proprietors' invised down $6.4 billion in 1986 and
come was revised down in 1986, reflecting revisions in the adjustment BEA $1.9 billion in 1987 and up $1.4 bilmakes to account for the misreport- lion in 1988. The downward revisions
ing of information on tax returns. In in 1986 and 1987 reflected the incor1987 and 1988, nonfarm proprietors' poration of a variety of newly availincome was revised little; upward revi- able information, particularly IRS tabsions from the incorporation of newly ulations of corporate tax return data
available information from IRS tabu- for 1986 and sole proprietorship and
lations of sole proprietorship and part- partnership tax return data for 1987.
nership tax return data for 1987 into (See table 7 for a brief description of
the income estimates without the IVA the sources and methods used to preand CCAdj were offset by lower BEA pare these estimates. For more detail, see the section on net interest in
estimates of the CCAdj.
"Notes on Sources of the Revision" in
Rental income of persons with the July 1986 SURVEY article on the reCCAdj.—Rental income of persons was vised NIPA estimates.)
revised down $0.8 billion in 1986, $5.0
The 1986 and 1987 revisions were
billion in 1987, and $3.6 billion in 1988. traceable to net monetary interest; inThe downward revisions in 1987 and terest paid by business was revised
1988 largely reflected newly available up considerably less than interest reinformation on income from royalties ceived by business, reflecting lower es-
16
timates of interest paid and higher estimates of interest received by financial
institutions. Largely reflecting the revised estimates of interest paid and received by business, interest received by
persons was revised down considerably
in all 3 years; interest paid by persons
was revised down in 1988. Interest received by government was revised up
in 1988.
An upward revision in net imputed
interest in 1987 largely reflected a
higher estimate of imputed interest
paid by banks, credit agencies, and investment companies.
National income.—National income
was revised down $24.5 billion in 1986
and $13.3 billion in 1987 and up $4.2
billion in 1988. These revisions reflected the aforementioned revisions
in compensation of employees, proprietors' income, rental income of persons,
corporate profits, and net interest—
particularly the downward revisions in
corporate profits in 1986 and 1987.
Capital consumption allowances
with CCAdj.—Capital consumption allowances with CCAdj (that is, economic
depreciation) was revised up $4.2 billion in 1986, $6.7 billion in 1987, and
$7.3 billion in 1988. For all 3 years,
the revisions reflected revised BEA estimates of fixed investment and prices.
Capital consumption allowances
(that is, tax-return-based depreciation)
was revised up less than the economic
depreciation measure in 1986 and 1988
and was revised down slightly in 1987.
For corporations, tax-return-based depreciation was revised up in all 3 years,
reflecting newly available IRS tabulations of corporate income tax return
data for 1986. For sole proprietorships
and partnerships, tax-return-based depreciation was revised down in 1987
and 1988, reflecting IRS tabulations of
tax return data for 1987.
The CCAdj (the difference between
the tax-return-based and the economic
measures of depreciation) was revised
down in all 3 years—modestly in 1986
and considerably in 1987 and 1988.
The 1987 and 1988 revisions were concentrated in the noncorporate CCAdj.
Nonfactor
charges.—Nonfactor
charges—indirect business tax and
nontax liability, business transfer payments, and current surplus of government enterprises less subsidies—were
revised little in 1986, were revised
down $0.8 billion in 1987, and were
revised little in 1988. Among these
charges, revisions were small, except
SURVEY OF CURRENT BUSINESS
in 1988 (when they were larger but offsetting). In that year, indirect business
taxes was revised up, largely reflecting
newly available information from the
Census Bureau on State and local government finances. The current surplus
of government enterprises less subsidies was revised down in 1988; the revision largely reflected the incorporation of Federal budget data for fiscal
year 1988, which showed larger deficits
(or smaller surpluses) for the Postal
Service, Federal Housing Administration, Federal Deposit Insurance Corporation, and Federal Savings and Loan
Insurance Corporation than had previously been indicated.
Personal income.—The pattern of
the revisions in personal income—
down $4.9 billion in 1986 and $2.4
billion in 1987 and up $2.4 billion
in 1988—partly reflected the previously described revisions in wages and
salaries, other labor income, proprietors' income, and rental income of
persons. It also reflected revisions in
personal interest income and in personal dividend income. Downward revisions in personal interest income in
1986 and 1987 stemmed mostly from
the revisions to the estimates of net
interest; a downward revision in 1988
stemmed from the replacement of the
direct estimating procedure used for
the current quarterly estimates with
the indirect estimating procedure used
for the annual estimates. (For details
about preparing these estimates, see
the section on personal interest income
in "Notes on Sources of the Revision"
in the July 1986 SURVEY article on the
revised NIPA estimates.) Upward revisions in personal dividend income in
all 3 years reflected the incorporation
of IRS tabulations of corporate tax return data for 1986.
Personal tax and nontax payments
was revised up $1.5 billion in 1986 and
$1.4 billion in 1987 and down $3.7 billion in 1988. The downward revision
in 1988 reflected the incorporation of
Census Bureau quarterly tax revenue
data, which lowered estimates of State
and local taxes paid. In each of the
3 years, the direction of the revisions
in personal taxes differed from that in
personal income; as a result, the revisions in disposable personal income
(DPI) were in the same direction as,
but somewhat larger than, those in
personal income.
Reflecting the revisions in PCE, personal outlays was revised down in
July 1989
1986 and 1987 and up in 1988. Because the revisions in DPI and personal outlays were largely offsetting,
revisions in personal saving were relatively small—up $3.2 billion in 1986,
down $2.4 billion in 1987, and up $0.4
billion in 1988.
Annual revisions in prices
Revisions in fixed-weighted price indexes stem from the incorporation of
newly available source data and of
methodological changes. Source data
that affect prices consist not only of
price indexes but also of current-dollar
estimates or quantity data used for
components for which the constantdollar estimates are prepared by quantity extrapolation or direct valuation.
(See the updated summary methodologies section in this article.)
In general, revisions in prices tend to
be small, mainly because much of the
source data used to derive GNP price
indexes are not subject to large or frequent revisions. Specifically, the BLS
Consumer Price Index does not undergo routine revision after its initial
release, and the BLS Producer Price
Index is typically revised only slightly;
these indexes are the basic sources for
price estimates of components that account for over three-fourths of GNP.
Newly available price information
incorporated this July for 1986-88 included a revised BEA computer price
index, revised BLS export and import price indexes, revised price indexes for foreign travel, and revised
price data for national defense goods
and services. Newly available currentdollar estimates affected the price estimates for services furnished without payment by banks, credit agencies, and investment companies and
for brokerage charges and investment
counseling. Newly available quantity
data affected the price estimates for
petroleum and natural gas drilling.
In addition, four minor methodological changes were made in the deflation procedures. (See the changes in
methodology section in this article.)
The level of the GNP price index
(fixed weights) was revised down 0.1
index point in 1986 and was unrevised
in 1987 and 1988. Reflecting the revisions in level, the annual percent increase in the index was revised down
0.1 percentage point to 2.7 percent in
1986 and was unrevised at 3.6 percent and 4.2 percent in 1987 and 1988,
respectively. Revisions in the annual
SURVEY OF CURRENT BUSINESS
17
prices for public utilities was revised
down in 1987 and up in 1988, largely
reflecting the replacement of previously used source data with HandyWhitman cost indexes.
(See the
changes in methodology section of this
article.)
The increase in prices of imports
was revised up 0.6 percentage point to
5.0 percent in 1988; the revision was
concentrated in imports of services,
mainly in expenditures by U.S. residents for foreign travel. Current quarterly estimates of the prices of these
travel-related expenditures had been
made by BEA using a trade-weighted
average of a small number of for-
eign countries' consumer price indexes
(with exchange rate adjustment); the
revised estimates were based on travelweighted data using a larger number
of countries. The upward revision in
1988 was partly due to the inclusion
of Mexico, which accounted for over 10
percent of these expenditures, in the
revised estimates.
The increase in the prices of national
defense purchases was revised up 0.5
percentage point to 3.6 percent in 1988.
The upward revision—which was concentrated in missiles, petroleum products, and travel—reflected the incorporation of newly available information
from the Department of Defense.
July 1989
percent changes for the components of
GNP were small, except for nonresidential structures in 1987 and 1988,
imports in 1988, and national defense
purchases in 1988 (table 4).
The increase in prices of nonresidential structures was revised down
3.0 percentage points to 0.2 percent
in 1987 and up 2.1 percentage points
to 5.2 percent in 1988. Most of the
revisions were traceable to the deflator for petroleum and natural gas well
drilling, which was revised based on
newly available information on footage
drilled from the Joint Association Survey of the Oil and Gas Producing Industry. In addition, the increase in
Table 4.—Revisions in Percent Change in GNP, Real GNP, and Price Indexes (Fixed Weights)
[Percent change from preceding year]
1986
1985
Previously
published
Revised
1987
Revision
Previously
published
Revised
1988
Revision
Previously
published
Revised
Revision
Current dollars
-0.2
6.4
Net exports of goods and services
Exports
Government purchases of goods and services
Federal
National defense
Nondefense
State and local
6.8
6.9
0.1
7.5
7.9
0.4
6.4
-.4
7.3
7.6
.3
7.2
7.4
.2
2.9
-2.0
-9.6
2.0
14.7
3.3
-1.7
-9.3
2.2
15.1
.4
.3
.3
.2
.4
3.6
3.0
.7
4.0
4.8
2.8
2.1
-3.7
4.8
4.2
-.8
—9
-4.4
.8
-.6
6.6
9.3
2.4
12.5
1.2
7.3
9.7
4.9
11.7
2.7
.7
.4
2.5
-.8
1.5
2.0
7.6
6.9
10.0
4.9
2.4
13.1
14.1
13.6
iii
0
-.5
21.4
11.5
22.1
10.7
.7
-.8
11.5
14.4
10.6
26.0
9.5
Gross private domestic fixed investment
Nonresidential
Structures
Producers' durable equipment..
Residential
5.4
-3.3
1.5
.
6.8
5.8
6.5
8.6
5.4
4.3
..
5.6
8.2
Gross national product
Personal consumption expenditures.
6.1
3.1
7.1
-7.6
8.5
6.3
3.2
7.2
-7.6
8.6
.2
.1
.1
0
.1
6.1
4.3
6.4
-2.3
7.5
6.2
4.1
6.1
-2.1
7.7
.1
-.2
-.3
.2
.2
4.3
-.3
1.0
-4.7
7.6
4.6
-.1
1.1
-4.0
7.9
.3
.2
.1
.7
.3
.5
Constant (1982) dollars
3.4
2.8
2.7
-.1
3.4
3.7
.3
3.9
4.4
Personal consumption expenditures
4.7
4.3
3.9
-.4
2.7
2.8
.1
2.8
3.4
.6
Gross private domestic fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
5.3
6.7
4.0
8.0
2.0
0
-4.5
-13.5
-.1
11.8
1.0
-3.3
-13.0
1.4
12.2
1.0
1.2
.5
1.5
.4
2.0
2.8
-2.9
5.2
.1
5.4
3.9
-6.0
8.1
-.5
3.4
1.1
-3.1
2.9
-.6
6.1
9.5
-.3
13.4
-1.7
5.8
8.4
-.1
11.5
-.4
-.3
-1.1
.2
-1.9
1.3
-1.2
3.4
3.1
9.4
8.1
11.8
5.0
2.4
13.1
7.9
13.5
7.5
.4
-.4
18.0
8.7
17.6
6.8
-.4
-1.9
7.9
12.1
8.6
22.8
4.7
4.0
2.3
6.0
-7.7
5.4
4.2
2.5
6.3
-7.7
5.5
.2
.2
.3
0
.1
2.6
1.7
5.4
-9.6
3.3
2.7
1.6
5.2
-9.3
3.4
.1
-.1
-.2
.3
.1
.3
-3.0
-1.2
-9.7
2.8
.4
-3.2
-1.4
-9.4
3.2
.1
-.2
-.2
.3
.4
Gross national product
..
.
Change in business inventories
Exports
Imports
.
.
•
.
.
Government purchases of goods and services
Federal
National defense
.
.
Nondefense
State and local
,
.
Price indexes (fixed weights)
3.4
2.8
2.7
-.1
3.6
3.6
4.2
4.2
0
Personal consumption expenditures
3.5
2.7
2.7
0
4.5
4.7
.2
4.3
4.3
0
Gross private domestic fixed investment
Nonresidenti&l
. .
Structures
Producers' durable equipment
Residential
1.8
1.7
2.7
1.1
2.2
2.4
2.4
1.1
3.2
2.4
2.3
2.3
.9
3.2
2.4
-.1
-.1
-.2
0
0
2.9
2.3
3.2
1.8
4.5
2.0
1.2
.2
1.8
4.5
-.9
-1.1
-3.0
0
0
2.6
2.4
3.1
2.0
3.1
3.3
3.4
5.2
2.2
3.1
.7
1.0
2.1
.2
0
-.6
-1.8
.2
-2.2
.1
-2.1
-.1
.1
2.0
7.6
1.9
7.7
-.1
.1
5.2
4.4
5.3
5.0
.1
.6
3.6
2.2
2.7
1.0
4.7
2.1
.4
.8
-.6
3.3
2.1
.2
.5
-.6
3.4
0
-.2
-.3
0
.1
3.5
2.4
2.4
2.5
4.2
3.6
2.5
2.5
2.4
4.3
.1
.1
.1
-.1
.1
4.4
3.8
3.1
5.4
4.9
4.6
4.1
3.6
5.4
4.9
.2
.3
.5
0
0
.
..
..
0
Change in business inventories
Exports
Government purchases of goods and services
Federal
National defense
. . .
Nondefense
•
State and local
18
SURVEY OF CURRENT BUSINESS
Annual revisions in constant dollars
the difference was largely in brokerage
services and in financial services furnished without payment.
The change in nonresidential fixed
investment was revised up 1.2 percentage points to a 3.3-percent decrease
in 1986, up 1.1 percentage points to
a 3.9-percent increase in 1987, and
down 1.1 percentage points to an 8.4percent increase in 1988. The revisions
in all 3 years were largely traceable
to PDE, in which the constant-dollar
revisions in office, computing, and accounting machinery differed considerably from the current-dollar revisions.
In current dollars, the change in office,
computing, and accounting machinery
was essentially unrevised in 1986 and
was revised up moderately in 1987 and
1988; in constant dollars, the change
was revised up moderately in 1986 and
substantially in 1987 and was revised
down in 1988. The pattern of revisions was largely attributable to computer prices; the BEA deflator for purchases of computers declined more on
a revised basis in 1986 and 1987 and
less in 1988 than had previously been
indicated. (See "BEA's Measurement
of Computer Output" in this issue for
information on the procedures used to
estimate these prices.) A downward
revision in the decrease in structures
in 1987 was concentrated in public
utilities.
The change in residential investment was revised up in 1986, down
in 1987, and up in 1988. In 1988,
the upward revision from a 1.7-percent
decrease to a 0.4-percent decrease reflected the current-dollar revisions in
multifamily construction and in additions and alterations.
The change in inventory investment
was revised down $9.8 billion in 1986,
was revised little in 1987, and was
revised down $3.9 billion in 1988.
The downward revisions, which largely
reflected the current-dollar revisions,
were accounted for by nonfarm inventories in 1986 and farm inventories in
1988.
The increase in exports was revised
up in 1986 and was revised little in
1987 and 1988. In 1986, the upward
revision from 3.1 percent to 8.1 percent
was traceable to the current-dollar revisions in "other" services that resulted
in a discontinuity of these estimates, as
discussed in the box on page 21. If the
1985 estimate had been revised, the increase in 1986 would have been revised
to about 4^2 percent.
In general, revisions in constantdollar—or real—GNP and its components reflect (1) current-dollar revisions, (2) price revisions, and (3)
"other" revisions, which result from
redistributions of current-dollar levels
within components or from deflation at
a finer level of detail. The following
tabulation provides a breakdown of the
percent revisions in the level of real
GNP and of the revisions in the annual
percent change of real GNP.
Percent revision
in level
1986
Current-dollar revisions . , ,
Less: Price revisions
Plus: Other revisions
Equals: Constant-dollar
revisions
1987
-0.2
-0.1
-.1
0
0
.3
-.1
.2
Revision in annual
percent change
1988
1986
1987
1988
0.3 -0.2
0
-.1
.4
0
0.1
0
.2
0.4
0
.1
-.1
.3
.5
.7
The level of real GNP was revised
down 0.1 percent in 1986 and up 0.2
percent in 1987 and 0.7 percent in
1988. The size of the revisions was
similar to those in the last two July
NIPA revisions, and, as is typical, the
largest revision was for the most recent year (1988). Current-dollar revisions mainly accounted for the revision
in 1986, and "other" revisions mainly
accounted for the revision in 1987; in
1988, both contributed to the revision.
Reflecting the revisions in level, the
annual percent increase in real GNP
was revised down 0.1 percentage point
to 2.7 percent in 1986, up 0.3 percentage point to 3.7 percent in 1987, and
up 0.5 percentage point to 4.4 percent
in 1988. The downward revision in
1986 was more than accounted for by
nonfarm inventory investment; the upward revision in 1987 was attributable
to PDE and exports, and the upward
revision in 1988 was attributable to
PCE and imports.
Revisions in GNP components.—The
increase in PCE was revised down in
1986, was revised little in 1987, and
was revised up in 1988. In 1986, the
downward revision from 4.3 percent to
3.9 percent was mostly accounted for
by services; about one-half of the revision in services was due to the counterentries in the net foreign travel component. In 1988, the upward revision
from 2.8 percent to 3.4 percent was
mostly accounted for by goods, which
reflected the revisions in current dollars. Although services were revised
down in current dollars in 1988, they
were revised up in constant dollars;
July 1989
The increase in imports was revised
up in 1986, was revised little in 1987,
and was revised down in 1988. As
for exports, the upward revision from
9.4 percent to 11.8 percent in 1986
was more than accounted for by the
current-dollar revisions in "other" services that resulted in a discontinuity of these estimates. If the 1985
estimate had been revised, the 1986
increase would have been unrevised
at about 9^2 percent. In 1988, the
downward revision from 8.7 percent
to 6.8 percent was largely attributable
to a combination of the current-dollar,
price, and "other" revisions. Imports
of merchandise, particularly computing equipment, and of services were revised down.
The increase in government purchases was revised little in all 3 years.
Quarterly revisions
July revisions in quarterly NIPA estimates come about in three major
ways: (1) Adjustment of the estimates
to reflect the annual revisions, (2) incorporation of new and revised source
data (including the updating of seasonal factors) that are used to indicate
quarterly patterns, and (3) changes in
the methodology used to prepare the
quarterly estimates. The quarterly revisions this July largely reflected the
revisions in the annual estimates that
were previously described. In general, the quarter-to-quarter patterns of
changes in GNP, real GNP, and GNP
prices were not markedly different on
the revised basis (table 5).
For real GNP, the revisions in the
13 quarterly percent changes (annual
rates) averaged 0.6 percentage point
(without regard to sign), about in line
with the two preceding July NIPA revisions. In only one quarter—the second quarter of 1986—was the change
revised by as much as 1.0 percentage
point; in that quarter, the downward
revision from a 0.8-percent decrease
to a 1.8-percent decrease was concentrated in farm and nonfarm inventory
investment.
Reflecting the discontinuity that resulted from the revisions in services
transactions, revisions in the percent
changes for real exports and imports
in the first quarter of 1986 were quite
large—from 8.0 percent to 30.8 percent
for exports and from -1.9 percent to
8.6 percent for imports. If the fourth
quarter of 1985 estimates had been revised, the increases in the first quarter
of 1986 would have been about 12x/2
Table 5.—GNP, Real GNP, and the GNP Price Index (Fixed Weights): Revisions in Percent Change From
Preceding Quarter
[Percent change at annual rates; based on seasonally adjusted annual rates]
GNP
Previously
published
Revised
GNP price index (fixed weights)
Real GNP
Revision
Previously
published
Revised
Revision
Previously
published
Revised
Revision
1985: IV
6.2
1986: I
7.2
2.6
5.9
3.4
7.3
1.3
5.7
4.2
.1
-1.3
-.2
.8
6.4
-.8
1.0
1.4
6.6
-1.8
.8
2.3
.2
-1.0
-.2
.9
2.2
2.4
3.0
2.8
2.2
2.1
2.9
3.1
0
-.3
-.1
.3
8.4
8.7
7.7
8.6
8.8
8.2
8.4
9.0
.4
-.5
.7
.4
4.6
5.0
4.5
6.1
5.4
4.4
5.3
6.6
.8
-.6
.8
.5
4.2
4.2
3.7
3.8
4.3
4.1
3.8
3.8
.1
-.1
.1
0
1988: I
II
HI
IV
5.4
8.7
7.3
7.6
6.5
8.6
7.5
7.5
1.1
-.1
.2
-.1
3.4
3.0
2.5
2.4
4.0
3.7
3.2
2.7
.6
.7
.7
.3
3.5
5.0
5.3
4.2
3.8
4.8
5.2
4.3
.3
-.2
-.1
.1
1989: I
8.2
7.9
-.3
4.4
3.7
-.7
4.6
4.8
.2
II
Ill
IV
1987- I
II
HI
IV
19
SURVEY OF CURRENT BUSINESS
July 1989
....
3.0
percent for exports and about1^ percent for imports.
For GNP prices, the revisions in the
13 quarterly percent changes (annual
rates) averaged 0.1 percentage point
(without regard to sign), a little less
than in the two preceding July revisions. None of the quarterly changes
was revised by as much as 0.4 percentage point.
Methodology
The revised NIPA estimates incorporated several methodological changes
that stemmed from the June 1989 revisions in the U.S. balance of payments
accounts. In addition, they incorporated several minor changes, mainly
in deflation procedures. This section
of the article describes these changes
and updates previously published tables showing summary methodologies
for current-dollar and constant-dollar
estimates of GNP.
Changes in methodology
Except for a few definitional and statistical differences, BEA's balance of
payments accounts provide the basis
for the foreign transactions entries in
the NIPA's. (For information about the
relation of the NIPA's to the balance of
payments accounts, see BEA Methodology Paper No. 3, Foreign Transactions, which is described on the inside
back cover.) Thus, the incorporation of
new source data and estimating methods in BEA's balance of payments estimates leads to revisions in the NIPA
current-dollar estimates and, in turn,
in the constant-dollar estimates.
3.3
The June 1989 balance of payments
revision featured, as part of a major effort to improve the estimates of international transactions in services, the
introduction of new estimates for three
groups of services. (1) Estimates for a
number of business, professional, and
technical services were provided for the
first time, and estimates of telecommunications services and insurance services were improved. The newly covered services include key areas such
as computer and data processing services; installation, maintenance, and
repair of equipment; and management and consulting services. The
new estimates reflected incorporation
of data from BEA's benchmark and annual follow-on surveys of selected service transactions with unaffiliated foreigners. (2) Estimates of travel and
passenger fare receipts and of travel
and passenger fare payments were improved, reflecting the incorporation of
information from a new in-flight survey administered by the U.S. Travel
and Tourism Administration. (3) Estimates of foreign students' expenditures in the United States and U.S.
students' expenditures abroad were introduced. BEA developed indirect estimating methods based on characteristics of the student populations to
estimate expenditures for tuition and
for room and board. (For information about these changes and several
smaller ones that affected merchandise
and factor incomes, see the technical
notes in "U.S. International Transactions, First Quarter 1989" in the June
1989 SURVEY.) For each of the three
groups of services, the resulting upward revisions were larger for exports
than for imports. These improvements
in the estimates of services raised the
current-dollar NIPA estimates of net
exports by $6.7 billion in 1986, $8.2 billion in 1987, and $10.0 billion in 1988
(table 6).
Further, some of the new estimates—the consumer share of travel
and passenger fares and all of students'
expenditures—also affected the NIPA
estimates through counterentries in
PCE services. For exports of these services, the counterentry is needed to adjust the source data to the NIPA definition of PCE in terms of expenditures by
U.S. residents. The source data—for
example, Census Bureau retail sales—
also include expenditures in the United
States by foreigners; that is, the source
data cover expenditures made in the
United States irrespective of whether
the expenditure is made by a U.S. or
a foreign resident. Thus, the PCE
presentation includes an item "Less:
Expenditures in the United States by
foreigners" (see NIPA table 2.4, line
106). For imports of these services,
the counterentry implements the definition of PCE. PCE includes "Foreign
travel by U.S. residents" (see NIPA
Table 6.—Revisions in Exports and Imports
[Billions of dollars]
1986
1987
1988
7.0
6.8
.1
10.4
8.4
2.1
20.9
10.1
10.8
Exports
Methodological revisions
Improved services * ....
...
....
Business, professional, and technical
services
Travel and passenger fares
Students' expenditures
Other2
Other revisions
....
18.1
20.6
18 2
28.0
Imports.
. .
Methodological revisions
Improved services 3
Business, professional, and technical
services
....
Travel and passenger fares
Students' expenditures
Other 4
Other revisions
....
11.0
10.1
10 1
10.1
6.9
9.8
10.6
98
106
16
81
9
19
74
5
0
4
23
78
6
0
-37
-4.3
7.3
-5.8
6.7
-8.1
7.1
11.5
12.5
152
78
18.7
11.0
132
23 1
9.9
253
253
0
-37
-55
-9 1
Net exports
Methodological revisions
Other revisions
4.0
9.4
35
1
10
5
0
Counterentries in personal consumption
expenditures
Foreign travel by U.S. residents (imports)
Less: Expenditures in the United States by
foreigners (exports)
Addenda—Constant dollars:
Net exports
Exports
Imports
Counterentries in personal consumption
expenditures
169
168
,
180
208
206
40
10.2
41
124
38
2
25
2
72
41
1. Reclassification of noninterest income of banks from factor
income to other services led to offsetting revisions; they were $1.6
billion in 1986, $1.5 billion in 1987, and $2.0 billion in 1988.
2. The revision reflects the inclusion in merchandise of fish caught
by U.S. residents within territorial waters and sold to foreigners on the
high seas. Reclassification of repairs and alterations of equipment from
merchandise to services led to offsetting revisions; they were $0.7
billion in 1986, $0.7 billion in 1987, and $0.9 billion in 1988.
3. The total includes students' wages, which were $0.1 billion in
1986, $0.1 billion in 1987, and $0.2 billion in 1988.
4. Reclassification of repairs and alterations of equipment from
merchandise to services led to offsetting revisions; they were $0.3
billion in 1986, $0.4 billion in 1987, and $0.5 billion in 1988.
20
SURVEY OF CURRENT BUSINESS
table 2.4, line 104) because PCE is
defined in terms of expenditures by
U.S. residents irrespective of whether
the expenditure is made in the United
States or abroad. (However, because
goods and services purchased abroad
should not be in GNP, the deduction
of imports provides the appropriate
measure in deriving GNP.) In current
dollars, these counterentries in PCE
services amounted to -$4.3 billion in
1986, -$5.8 billion in 1987, and -$8.1
billion in 1988.
Because the NIPA revision this
July—as usual—only covered 3 years,
estimates for 1985 and earlier years
were not revised. The revisions stemming from the methodological changes
in the balance of payments will be carried back to earlier years for incorporation in the comprehensive NIPA revision to be completed in late 1990. Until then, a discontinuity will exist in
the estimates of exports, imports, PCE,
and the aggregates in which they are
included. (See the box on page 21.)
In addition, changes were made in
deflation procedures used for two categories of exports and for two categories of nonresidential structures.
The changes for exports were made
possible by the availability of detail in
BEA's recently revised end-use commodity classification system for exports
and imports. One change was made for
a category of durable consumer goods
exports consisting of coins, gems, jewelry, and collectibles. Previously the
whole category was deflated with the
BLS export price index for unmanufactured consumer goods. The new procedure uses that index to deflate exports of collectibles (including artwork,
antiques, and stamps), the producer
price indexes for jewelry and watches
to deflate exports of jewelry (watches,
rings, etc.), and the Engelhard index
for gold bullion to deflate exports of
numismatic coins. The second change
was for reexports—that is, exports of
foreign merchandise. Previously the
whole category was deflated with the
implicit price deflator for merchandise
except computers and aircraft. The
new procedure uses BLS export price
indexes and the BEA computer price
index weighted to reflect the composition of reexported merchandise.
In nonresidential structures, both
changes in deflation procedures were
for categories of public utilities. For
telephone and telegraph, the Engineering News Record construction cost index was replaced by a Handy-Whitman
cost index for electric utilities. For
gas and petroleum pipeline, an Environmental Protection Agency index
for sewers was replaced by a HandyWhitman cost index for gas utilities.
Finally, beginning in 1986, the distribution between durable and nondurable goods in the "other" category
of merchandise exports in NIPA tables
4.3 and 4.4 is based on detail newly
available from the end-use commodity classification system. Previously
the distribution, which is used in constructing GNP by major type of product
(NIPA tables 1.3 and 1.4), was based
on an assumption of equal amounts for
durables and nondurables.
Updated summary methodologies
Table 7 identifies the principal
source data and estimating methods
used to prepare the current-dollar estimates of the income- and productside components of GNP, and table
8 identifies the principal source data
and estimating methods used to prepare constant-dollar estimates of the
product-side components.
Current-dollar estimates of GNP.—
The components in table 7 are as
shown in the national income and
product account (see appendix B,
"Summary National Income and Product Accounts, 1988," account 1), starting on the income side and proceeding to the product side. The subcomponents in table 7, with their 1988 dollar values, are grouped according to the
methodology used to prepare them.
The column in table 7 for annual estimates covers the several annual estimates in the estimating cycle; the major differences in methodology as the
estimates move through the three annual revisions to a comprehensive revision are few enough to condense into
the table. For example, for most goods
in PCE (the first item on the product
side), the table indicates one methodology for benchmark years and another
for all other years.
The column for the quarterly estimates is a condensation in several respects. First, it refers to the advance
estimate for the current quarter—that
is, the estimate prepared in the first
month following the end of the quarter. That one estimate, rather than
all three of the current quarterly estimates, is described because more attention focuses on the "first look" at the
quarter. Second, even for the advance
estimate, the column does not detail
July 1989
how many months of source data are
available nor whether the data are subject to revision by the source agency.
Thus, the benefit of condensation is at
the cost of not detailing the tradeoff between the timeliness of the advance estimate and the improved quantity and
quality of source data available in the
2 following months and incorporated in
the final current estimates.3
Table 7 lists source data referring
to a variety of different economic
measures—wages and salaries, premiums, expenses, interest rates, mortgage debt, tax collections, unit sales,
housing stock, employment, and average price, to name a few. For most
components, the source data are "value
data"; that is, they embody both the
quantity and price dimensions that are
required for current-dollar estimates.
In these cases, the methodology indicated in table 7 is the adjustment
of the value data to derive estimates
consistent with NIPA definitions and
coverage.
When value data are not used in
preparing an estimate, the table indicates the combination of data with separate quantity and price dimensions
that is used to derive the required
value estimate (as well as indicating
any major adjustments needed to derive estimates consistent with NIPA
definitions and coverage). On the product side, a "physical quantity times
price" method is used for several components. For example, the estimate
for new autos is prepared as unit sales
times average list price. An "employment times earnings times hours"
method and variations of a "stock
of assets/liabilities times an interest
rate" method also are used for several
components.
3. The methodology for PCE illustrates the sequential introduction of source data in the current estimates.
For the advance estimate, the following key data are
available: 3 months of retail sales (of which 2 months
are subject to revision by the source agency); 3 months
of unit sales of new motor vehicles, 1 month of information with which to allocate the unit sales among consumers and other purchasers, and 2 or 3 months of average list prices (which are subject to modification as
more detailed information on models of cars sold, and
thus actual retail prices, becomes available); and 1 to 3
months of data for services amounting to three-fifths of
total services. The estimates for most of the remainder
of PCE are extrapolations based either on related indicator series or on judgmental trends. For the preliminary estimate, revised retail sales for 2 months become
available. For the final estimate, information on sales of
used cars and more data on several services—hospitals,
electricity, natural gas, hotels and motels, airline transportation, foreign travel, and insurance other than life
insurance—become available.
July 1989
SURVEY OF CURRENT BUSINESS
21
Some of the source data shown in ta- els established by source data that are estimate are used to extrapolate the
4
ble 7 for the annual estimate are used viewed as final, and all of the source level of the preceding quarter. In adto interpolate and extrapolate the lev- data shown for the advance quarterly dition to using indicator series, as is
the case when source data are listed in
the table, extrapolation and interpolation may be based on trends, as is the
case when "judgmental trend" is listed
in the table.
Discontinuities in NIPA Exports and Imports
Constant-dollar estimates of GNP.—
Table 8 shows which of three methods
Because the NIPA revision this July—as usual—only covered 3 years, the balance of payments
is used to prepare constant-dollar esrevisions that reflected methodological improvements in services were brought into the NIPA's
at the best level for 1986. Thus, there is a discontinuity in the estimates of exports, imports,
timates and indicates the source data
PCE (as explained in the changes in methodology section), and the aggregates in which they
with which it is implemented.5 The
are included. Tables A and B provide a quantification of the discontinuity based on rough
method used for by far the largest part
adjustments of the estimates for the year 1985 and for the fourth quarter of 1985, respectively.
of GNP is deflation. In fact, deflation
Table A shows that the changes from 1985 to 1986 are 2 to 4 percentage points smaller for
is so widely used that the term is ofexports and imports on the adjusted basis and that the changes for larger aggregates are affected
by no more than 0.1 percentage point. For example, the change in current-dollar GNP on the
ten used to describe the preparation of
adjusted basis is 0.1 percentage point smaller, and the change in constant-dollar GNP is not
all constant-dollar estimates. In deflaaffected.
tion, constant-dollar estimates are obThe revisions stemming from the methodological changes in the balance of payments will
tained by dividing the most detailed
be carried back to earlier years for incorporation in the comprehensive NIPA revision to be
current-dollar components by approcompleted in late 1990.
priate price indexes with the base
period—at present, the year 1982—
Table A.—1985 Estimates Adjusted to Reflect Methodological Changes in Exports and Imports of
equal to 100,
Services
The other two methods, quantity ex[Billions of dollars]
trapolation and direct base-year valuAdjusted
Published
1985
ation, are similar in that they both use
change, 1985 to change, 1985 to
1986
1986
quantity data. For quantity extrap1986
Adjust- Adjusted
Published
PerPerment
olation, constant-dollar estimates are
Dollars
Dollars
cent
cent
obtained by extrapolating the currentCurrent dollars
dollar estimates from the base year
5.4
2.4
5.3
214.3
216.7
4,231.6
4,017.3
4,014.9
by quantity data. For direct valuaGross national product
2.9
11.1
6.9
25.6
385.4
396.5
14.5
370.9
Less' Exports
.. ..
....
tion, constant-dollar estimates are ob7.8
10.0
493.8
35.8
44.9
458.0
9.1
448.9
Plus' Imports
tained by multiplying base-year prices
5.8
236.2
239.1
5.8
4,329.0
-3.0
4,089.9
4,092.8
Equals' Gross domestic purchases
by quantity data for each period.
Of which:
171.4
6.4
168.4
2,797.4
6.5
2,626.0
-3.0
2,629.0
Personal consumption expenditures
The subcomponents are as shown
in table 7, except where more detail
Constant (1982) dollars
is needed to highlight differences in
97.4
99.2
2.7
2.7
3,620.5
3,717.9
1.8
3,618.7
Gross national product
methodology for constant-dollar esti17.0
4.5
8.1
29.9
397.1
12.9
380.1
367.2
Lsss' Exports
46.2
9.6
11.8
55.5
480.7
526.9
471.4
9.3
Plus' Imports
mates. For this table, the distinction
3.4
126.4
124.6
3,721.2
3.3
3,847.6
-1.8
3,723.0
Equals' Gross domestic purchases
between annual and quarterly methodOf which:
93.4
2,446.4
4.0
91.6
3.9
2,353.0
-1.8
2,354.8
Personal consumption expenditures .
ology is far less important than it
was for the current-dollar methodology, and major differences between the
Table B.—1985:IV Estimates Adjusted to Reflect Methodological Changes in Exports and Imports of
annual and quarterly source data are
Services
noted within the individual entries.
[Billions of dollars; seasonally adjusted at annual rates]
1985:IV
Published
Adjustment
1986:1
Published
change, 1985:IV
to 1986:1
Adjusted
Dollars
Percent
Adjusted
change, 1985:IV
to 1986:1
Dollars
Percent
Current dollars
Equals: Gross domestic purchases
Of which:
Personal consumption expenditures
2.6
4,110.5
4,181.3
73.4
7.3
70.8
7.1
15.8
9.7
385.0
482.1
395.5
482.7
26.3
10.3
31.7
9.0
10.5
.6
11.4
.5
4,211.2
-3.5
4,207.7
4,268.4
57.2
5.5
60.7
5.9
2,700.4
-3.5
2,696.9
2,734.3
33.9
5.1
37.4
5.7
3,662.4
Less' Exports
Plus' Imports
4,107.9
369.2
472.4
Gross national product
2.3
3,664.7
3,721.1
58.7
6.6
56.4
6.3
367.4
492.6
14.1
9.8
381.5
502.4
392.9
502.9
25.5
10.3
30.8
8.6
11.4
.5
12.5
.4
3,787.6
-2.0
3,785.6
3,831.0
43.4
4.7
45.4
4.9
2,386.9
-2.0
2,384.9
2,410.9
24.0
4.1
26.0
4.4
Constant (1982) dollars
Less' Exports
E uals- Gross domestic urchases
Of which:
Personal consumption expenditures
4. Extrapolation is a method of extending estimates
from one period forward (or backward) in time to other
periods. In simple terms, extrapolation applies a percent change—either the percent change in the indicator
series or the percent change in the trend—to the level
of the preceding period. Interpolation is a method of
filling in estimates between two periods. Interpolation
applies a more complex mathematical formula—there
are several in use—to preserve the pattern of the indicator series consistent with the level of the source data
viewed as final.
5. With few exceptions, BEA does not prepare
constant-dollar estimates of income measures because
price indexes cannot be associated with them, as they
can be with product measures. Three exceptions are
disposable personal income and, as presented in BEA's
Business Conditions Digest, personal income and profits. In these cases, the estimates are adjusted for price
change by reference to the prices of the goods and services on which the income is spent. BEA prepares
constant-dollar net national product and national income by preparing constant-dollar estimates of capital
consumption allowances with capital consumption adjustment and of the nonfactor charges and then subtracting these estimates from constant-dollar GNP.
22
SURVEY OF CURRENT BUSINESS
July 1989
Table 7.—Principal Source Data and Estimating Methods Used in Preparing Current-Dollar Estimates of GNP
Component (billions of
dollars)
Subcomponent (billions of
dollars)
Annual estimates: Source data and methods used to determine
level for benchmark and other final years or, for other years, used
to prepare an extrapolator or interpolator
Advance quarterly estimates: Source data
and methods used to prepare an
extrapolator
Income side (Charges against GNP of $4,890.2 billion in 1988)
Compensation of
employees
($2,907.6)
Wages and salaries: Private
industries, State and local
government, and rest of the
world
($2,284.0)
Wages and salaries: Federal
($145.0)
For most, annual tabulations of wages and salaries of employees
covered by State unemployment insurance from the Bureau of
Labor Statistics; for remainder, wages from a variety of sources
(such as Dept. of Agriculture for farms and Railroad
Retirement Board for railroad transportation) and indirect
estimation for only a few cases (such as a percentage of
revenues for tips not reported as wages).
For civilians, wages from the Office of Personnel Management;
for military personnel, wages from the Office of Management
and Budget, Budget of the United States.
Employer contributions for
social insurance
($249.7)
Other labor income
($228.9)
Proprietors' income
with IVA and
CCAdj
($327.8)
Contributions from the Social Security Admin., other agencies
administering social insurance programs, and Census Bureau
surveys of State and local government retirement funds.
Years except most recent—For private pension and profit-sharing
funds, employer contributions from Internal Revenue Service
tabulations of business tax returns when available and
judgmental trend in other years; for group health and life
insurance, mainly total premiums paid from trade sources and
Health Care Financing Admin, and data on employer share
from trade source; for workers' compensation, contributions
from trade sources.
Most recent year—For group health insurance, total premiums
paid from Health Care Financing Admin.; for others in the
category, judgmental trend.
Nonfarm income
($259.2)
Years except most recent—Income from Internal Revenue Service
tabulations of business tax returns, adjusted for understatement
of income on tax returns and for several conceptual differences.
Most recent year—For construction, trade, and services, indicators
of activity (such as value of housing put in place); for most
others, judgmental trends.
The IVA is described under the entry for corporate profits with
IVA and CCAdj.
The CCAdj is described under the entry for capital consumption
allowances with CCAdj.
Based on Dept. of Agriculture data on net income, obtained by
deriving gross earnings (cash receipts from marketing,
inventory change, government payments, other cash income,
and nonmoney income) and subtracting production expenses,
adjusted to exclude corporate income from Internal Revenue
Service tabulations of business tax returns.
The CCAdj is described under the entry for capital consumption
allowances with CCAdj.
Nonfarm IVA
(-$1.5)
Nonfarm CCAdj
($30.3)
Farm income with IVA
($47.3)
Farm CCAdj
(-$7.5)
See footnotes at end of table.
For most private, wages and salaries
derived, by industry, from Bureau of
Labor Statistics monthly employment
times earnings times hours; for State
and local government and other
private, judgmental trend.
For civilians, judgmental trend; for
military personnel, employment from
Dept. of Defense and judgmental
extrapolation.
For Federal programs, BEA-derived
wages and salaries of employees
covered by the programs; for State and
local government programs, judgmental
trend.
Judgmental trend.
Same as annual for most recent year.
Dept. of Agriculture projection adjusted
for consistency with NIPA's.
23
SURVEY OF CURRENT BUSINESS
July 1989
Table 7.—Principal Source Data and Estimating Methods Used in Preparing Current-Dollar Estimates of GNP—Continued
Component (billions of
dollars)
Subcomponent (billions of
dollars)
Annual estimates: Source data and methods used to determine
level for benchmark and other final years or, for other years, used
to prepare an extrapolator or interpolator
Advance quarterly estimates: Source data
and methods used to prepare an
extrapolator
Income side (Charges against GNP of $4,890.2 billion in 1988)—Continued
Rental income of
persons with CCAdj
($15.7)
Rent from nonfarm
nonresidential properties
($9.0)
Rent from owner-occupied
nonfarm housing
($22.8)
Rent from tenant-occupied
nonfarm housing
($22.6)
Royalties
($4.8)
Rent from farms owned by
nonoperator landlords
($6.2)
CCAdj
(-$49.8)
Corporate profits with
IVA and CCAdj
($328.6)
Profits: Domestic, before tax
($263.1)
Profits: Rest of the world,
before and after tax
($43.7)
IVA 2
(-$25.0)
CCAdj
($46.8)
See footnotes at end of table.
Years except the 2 most recent—Rents paid and received by
business and government, adjusted for expenses associated with
property (mainly depreciation, taxes, interest, and repairs), from
Internal Revenue Service tabulations of business tax returns,
Census Bureau surveys, and the Budget of the United States
prepared by the Office of Management and Budget.
Two most recent years—Judgmental trend.
Derived as space rent—see the entry for nonfarm housing in
personal consumption expenditures—less related expenses,
including maintenance and repair from Bureau of Labor
Statistics quarterly consumer expenditure survey, mortgage debt
from Federal Reserve Board times an interest rate, and property
taxes from Census Bureau quarterly surveys of State and local
tax collections.
Same as described under owner-occupied housing and adjusted to
cover only rental income accruing to persons not primarily
engaged in the real estate business.
Years except most recent—Internal Revenue Service tabulations
of royalties reported on individual tax returns.
Most recent year—Judgmental trend.
Prepared in conjunction with farm proprietors' income; see that
entry.
Same as annual for 2 most recent years.
For owner-occupied space rent, same as
annual; for depreciation, interest, and
taxes, based on NIPA estimates of
those components; for other expenses,
based on judgmental trend.
Same as annual.
Same as annual for most recent year.
Judgmental trend.
The CCAdj is described under the entry for capital consumption
allowances with CCAdj.
Years except the 2 most recent—Receipts less deductions from
Internal Revenue Service tabulations of business tax returns,
adjusted to include in profits the depletion allowances on
domestic minerals, income of the Federal Reserve and federally
sponsored credit agencies, the excess of additions to bad debt
reserves over losses actually incurred, and an estimate of the
amount by which income on tax returns is understated and to
exclude capital gains and losses on the sale of property and
dividends received from domestic corporations.
Two most recent years—Separately for about 70 industries,
profits from Census Bureau quarterly survey of corporate
profits, regulatory agency reports, and compilations of public
company reports.
Estimated as part of the balance of payments; see the entry for
receipts and payments of factor income, net, under net exports
of goods and services.
Obtained as the difference between the NIPA change in business
inventories (that is, physical volume of inventories valued in
prices of the current period) and the change in inventories
reported by business. See also the entry for change in business
inventories.
The CCAdj is described under the entry for capital consumption
allowances with CCAdj.
For some industries in transportation,
some in finance, etc., and all in
services, judgmental trend; for others
in this group, same as annual for 2
most recent years. (Released at time of
preliminary estimate of GNP for the
first, second, and third quarters and of
final estimate for the fourth quarter.)
Judgmental trend. l (Released at time of
preliminary estimate of GNP for the
first, second, and third quarters and of
final estimate for the fourth quarter.)
Same as annual.
SURVEY OF CURRENT BUSINESS
24
July 1989
Table 7.—Principal Source Data and Estimating Methods Used in Preparing Current-Dollar Estimates of GNP—Continued
Component (billions of
dollars)
Subcomponent (billions of
dollars)
Annual estimates: Source data and methods used to determine
level for benchmark and other final years or, for other years, used
to prepare an extrapolator or interpolator
Advance quarterly estimates: Source data
and methods used to prepare an
extrapolator
Income side (Charges against GNP of $4,890.2 billion in 1988)—Continued
Net interest
For farm interest paid and received, Dept. of Agriculture surveys;
for residential mortgage interest, mortgage debt from Federal
Reserve Board times an interest rate; for all other interest paid
and received by business, Internal Revenue Service tabulations
of business tax returns or, when these tabulations are not
available, interest receipts and payments from regulatory
agencies (such as the Federal Deposit Insurance Corporation),
from trade sources, or obtained by applying an interest rate to a
stock of assets/liabilities from Federal Reserve Board flow of
funds accounts.
Estimated as part of the balance of payments; see the entry for
receipts and payments of factor income, net, under net exports
of goods and services.
Property income earned (and for life insurance carriers, profits)
from Internal Revenue Service tabulations of business tax
returns or, for the 2 most recent years, from trade sources.
Derived by combining estimates of (1)
interest received by persons, (2)
government interest paid and received,
and (3) interest paid by consumers to
business. For (1), judgmental trend; for
(2), Monthly Treasury Statement for
Federal and judgmental trend for State
and local; for (3), consumer debt from
the Federal Reserve Board times BEA
estimates of interest rates.]
Judgmental trend.!
Property income earned on investment of deposits and monetary
interest paid (and for mutual depositories, profits from Internal
Revenue Service tabulations of business tax returns when
available) from annual reports of regulatory agencies and the
Federal Reserve Board. The counterentry to the interest,
financial services furnished without payment, is allocated to
persons, government, and rest of the world on the basis of
deposit liabilities from the same sources.
Judgmental trend.
For charitable contributions and bad debts incurred by consumers,
for years except the 2 most recent, Internal Revenue Service
tabulations of business tax returns or, for 2 most recent years,
judgmental trend; for other components (such as liability
payments for personal injury), for years except the most recent,
information from government agency reports and trade sources
or, for most recent year, judgmental trend.
Judgmental trend.
Federal
($56.7)
For excise taxes, collections from the Internal Revenue Service;
for customs duties, receipts from Monthly Treasury Statement",
and for nontaxes (such as fines), receipts from the Office of
Management and Budget, Budget of the United States.
State and local
($336.8)
Receipts from Census Bureau quinquennial censuses and annual
and quarterly surveys.
For customs duties, the Monthly Treasury
Statement; for most excise taxes,
indicators of activity (such as gasoline
production for gasoline tax); for others
in this group, judgmental trend.
Judgmental trend.
Federal
($36.0)
For subsidies, payments by the Commodity Credit Corporation
from agency reports and outlays from Monthly Treasury
Statement for most others; for current surplus, mainly reports
of various agencies such as the Commodity Credit Corporation
and Postal Service.
State and local
(-$17.5)
($392.9)
For subsidies, limited to railroad, judgmental trend; for current
surplus, see entry for State and local purchases other than
compensation and structures.
Capital consumption
allowances
($526.4)
For depreciation of nonfarm sole proprietorships, partnerships,
and corporations, Internal Revenue Service tabulations of
business tax returns; for other depreciation (including farms,
nonprofit institutions, and owner-occupied houses), perpetualinventory calculations; for accidental damage to fixed capital,
losses reported to insurance companies and government
agencies.
Obtained in two parts: First, the part that places a historical-cost
series for capital consumed on a consistent basis with regard to
service lives and on a straight-line depreciation pattern is the
difference between tax-return-based calculations at historical
cost and the perpetual-inventory calculations; second, the part
that places the historical-cost series on a current-cost basis is
the difference between two perpetual-inventory calculations,
one at historical cost and one at current cost.
Net interest: Domestic
monetary
($157.3)
Net interest: Rest-of-the world
monetary
(-$3.4)
Net interest: Imputed—life
insurance carriers and
private noninsured pension
plans
($141.9)
Net interest: Imputed—banks,
credit agencies, and
investment companies
($97.0)
Business transfer
payments
($29.0)
Indirect business tax
and nontax liability
($393.5)
Subsidies less current
surplus of
government
enterprises
($18.5)
Capital consumption
allowances with
CCAdj
($513.6)
CCAdj
($12.8)
See footnotes at end of table.
Judgmental trend.
For subsidies, reports of various agencies
and outlays from Monthly Treasury
Statement; for current surplus, agency
report for the Commodity Credit
Corporation and judgmental trend for
others in this group.
Judgmental trend.
Judgmental trend.
For capital consumption allowances,
judgmental trend as mentioned in
preceding item; for current-cost series,
perpetual-inventory calculation based
on investment and on investment
prices.
July 1989
SURVEY OF CURRENT BUSINESS
25
Table 7.—Principal Source Data and Estimating Methods Used in Preparing Current-Dollar Estimates of GNP—Continued
Component (billions of
dollars)
Subcomponent (billions of
dollars)
Annual estimates: Source data and methods used to determine
level for benchmark and other final years or, for other years, used
to prepare an extrapolator or interpolator
Advance quarterly estimates: Source data
and methods used to prepare an
extrapolator
Product side (GNP of $4,880.6 billion in 1988)
Personal consumption
expenditures
($3,235.1)3
Durable and nondurable
goods:
($1,507.5)
Most goods (goods except
subcomponents listed
separately)
($1,242.5)
New trucks
($29.2)
New and used autos
($144.2)
Gasoline and oil
($76.8)
Food furnished employees
(including military)
($9.7)
Expenditures abroad by U.S.
residents ($3.7) less personal
remittances in kind to
foreigners ($0.5)
See footnotes at end of table.
Benchmark years—Commodity-flow method, starting with
manufacturers' shipments from Census Bureau quinquennial
census and including an adjustment for exports and imports
from Census Bureau merchandise trade.
Other years—Retail-control method, using retail trade sales from
Census Bureau annual survey or, for the most recent year,
monthly survey of retail trade.
Benchmark years—Commodity-flow method, starting with
manufacturers' shipments from Census Bureau quinquennial
census and including an adjustment for exports and imports
from Census Bureau merchandise trade.
Other years except most recent—Abbreviated commodity-flow
method, starting with manufacturers' shipments from Census
Bureau annual survey and including an adjustment for exports
and imports from Census Bureau merchandise trade.
Most recent year—Physical quantity purchased times average
retail price: Unit sales and information with which to allocate
sales among consumers and other purchasers from trade
sources and average price based on a Bureau of Labor
Statistics consumer price index.
For new autos, physical quantity purchased times average retail
price: Unit sales, information with which to allocate sales
among consumers and other purchasers, and average list prices,
all from trade sources. For used autos, change in the consumer
stock of autos at least 1 year old plus dealers' margins based
on unit sales times auction price, all from trade sources.
Years except most recent—Physical quantity purchased times
average retail price: Gallons consumed from the Dept. of
Transportation, information with which to allocate that total
among consumers and other purchasers from Federal agencies
and trade sources, and monthly average retail price by grade
from the Bureau of Labor Statistics.
Most recent year—Physical quantity purchased times average
retail price: Domestic supply from Energy Information Admin,
monthly surveys and price as above.
For commercial employees, number of employees of appropriate
industries from Bureau of Labor Statistics tabulations times a
Bureau of Labor Statistics consumer price index for food; for
military personnel, outlays from theBudget of the United States
prepared by the Office of Management and Budget.
Estimated as part of the balance of payments; see the entry for
receipts and payments for other services, net, under net exports
of goods and services.
Same as annual for the most recent year.
Same as annual for the most recent year.
For new autos, same as annual; for used
autos, same as annual except that
change in consumer stock is based on
judgmental trend.
Same as annual for most recent year.
For commercial employees, same as
annual; for military personnel, number
of persons in Armed Forces from the
Dept. of Defense times a Bureau of
Labor Statistics consumer price index
for food.
Judgmental trend.
26
SURVEY OF CURRENT BUSINESS
July 1989
Table 7.—Principal Source Data and Estimating Methods Used in Preparing Current-Dollar Estimates of GNP—Continued
Component (billions of
dollars)
Subcomponent (billions of
dollars)
Annual estimates: Source data and methods used to determine
level for benchmark and other final years or, for other years, used
to prepare an extrapolator or interpolator
Advance quarterly estimates: Source data
and methods used to prepare an
extrapolator
Product side (GNP of $4,880.6 billion in 1988)—Continued
Personal consumption
expenditures—
Services:
($1,727.6)
Continued
Nonfarm housing—space rent
for owner-occupied and rent
for tenant-occupied
($472.0)
Farm housing—rent
($9.5)
Auto and other repair, legal
and funeral services,
barbershops and beauty
parlors, nursing homes,
laundries, employment
agency fees, accountant and
tax return preparation
services, recreation (except
video cassette rentals, cable
TV, parimutuel net receipts,
and lotteries), hotels and
motels, and commercial
education
($292.2)
Physicians, dentists, and other
medical professional
services
($186.3)
Private elementary and
secondary schools, welfare
activities, and trade unions
and professional associations
($76.2)
Financial services furnished
without payment by banks,
credit agencies, and
investment companies 4
($91.1)
Brokerage charges and
investment counseling, bank
service charges, intercity
transportation, and private
higher education
($80.8)
Domestic services
($9.8)
See footnotes at end of table.
Benchmark years—Based on data on housing stock and average
annual rental from Census Bureau decennial census of housing
and survey of residential finance.
Other years—Based on data on housing stock from the Census
Bureau biennial housing survey or on the number of
households from Census Bureau monthly current population
survey and updated average annual rental.
Dept. of Agriculture survey.
Same method as annual, with housing
stock based on annual estimates
adjusted for completions from Census
Bureau survey and average rent based
on annual estimates adjusted using a
Bureau of Labor Statistics consumer
price index for rent.
Judgmental trend.
Benchmark years—Receipts from Census Bureau quinquennial
census of service industries adjusted for receipts from business
and governments.
Other years—Receipts, for spectator sports from private
organizations, for legitimate theaters and commercial education
from tabulations of wages and salaries of employees covered
by State unemployment insurance from the Bureau of Labor
Statistics, for others in this group from Census Bureau service
annual survey.
For nursing homes, commercial
education, employment agency fees,
and clubs and fraternal organizations,
wages and salaries derived from
Bureau of Labor Statistics monthly
employment times earnings times
hours; for legitimate theaters and
motion pictures, receipts from trade
sources; for others in this group,
judgmental trend.
Benchmark years—For nonprofit professional services, expenses;
for others in this group, receipts, adjusted for government
payments and prepayment plans, from Census Bureau
quinquennial census of service industries.
Other years—Receipts, adjusted for government payments and
prepayment plans, from Census Bureau service annual survey.
Benchmark years—For schools of religious organizations,
enrollment from Dept. of Education times BEA estimate of
average expenditures per pupil; for others in this group,
receipts and expenses from Census Bureau quinquennial census
of service industries.
Other years—Tabulations of wages and salaries of employees
covered by State unemployment insurance from the Bureau of
Labor Statistics.
See entry for net interest: Imputed—banks, credit agencies, and
investment companies.
For nonprofit professional services,
wages and salaries derived from
Bureau of Labor Statistics monthly
employment times earnings times
hours; for others in this group,
judgmental trend.
Wages and salaries derived from Bureau
of Labor Statistics monthly
employment times earnings times
hours.
Years except most recent—For private higher education,
expenses, and for others in this group, receipts, all from annual
reports of government administrative agencies.
Most recent year—For brokerage, charges from trade source; for
intercity transportation, receipts from reports of government
administrative agencies; for private higher education,
enrollment from Dept. of Education.
For stock brokerage charges, stock
exchange transactions from trade
sources; for other brokerage charges
and investment counseling and for
bank service charges, judgmental trend;
for intercity transportation, receipts
from trade sources; for private higher
education, wages and salaries for the
industry derived from Bureau of Labor
Statistics monthly employment times
earnings times hours.
Judgmental trend.
Number of workers times weekly hours times earnings from
Census Bureau monthly current population survey.
Judgmental trend.
July 1989
27
SURVEY OF CURRENT BUSINESS
Table 7.—Principal Source Data and Estimating Methods Used in Preparing Current-Dollar Estimates of GNP—Continued
Component (billions of
dollars)
Subcomponent (billions of
dollars)
Annual estimates: Source data and methods used to determine
level for benchmark and other final years or, for other years, used
to prepare an extrapolator or interpolator
Advance quarterly estimates: Source data
and methods used to prepare an
extrapolator
Product side (GNP of $4,880.6 billion in 1988)—Continued
Personal consumption
expenditures—
Continued
Services—Continued
Insurance, hospitals except
nursing homes, religious
activities, cable TV, utilities,
and local transport
($434.8)
Water and other sanitary
services, and lotteries
($30.4)
Foreign travel by U.S.
residents ($36.1) less
expenditures in the United
States by foreigners ($36.2)
Other services: Video cassette
rentals and parimutuel net
receipts; other housing
except hotels and motels;
other education and research
except commercial
education; bridge, etc. tolls;
other household operation
except repairs and insurance;
travel and entertainment
card fees; stenographic and
reproduction services; and
money orders and classified
advertising
($44.5)
For life insurance, expenses from reports of private organizations
or, for the most recent year, tabulations of wages and salaries
of employees covered by State unemployment insurance from
Bureau of Labor Statistics; for insurance other than life
insurance, premiums and benefits from reports of private
organizations; for hospitals except nursing homes, expenses
from reports of private organizations; for religious activities,
expenses based on contributions and membership from private
organizations or, for the most recent year, judgmental trend; for
cable TV and utilities, receipts from government agencies and
trade sources; for local transport, receipts from reports of
private organizations.
Years except 2 most recent—For water and other sanitary
services, expenditures from Census Bureau quinquennial
censuses and annual surveys of State and local governments,
adjusted to a calendar year basis from a fiscal year basis; for
lotteries, net receipts from the same source.
Two most recent years—Judgmental trend.
Estimated as part of the balance of payments; see the entry for
receipts and payments for other services, net, under net exports
of goods and services.
For life insurance and religious activities,
wages and salaries derived from
Bureau of Labor Statistics monthly
employment times earnings times
hours; for hospitals, electricity, and
gas, reports from private organizations;
for others in this group, judgmental
trend. l
Same as 2 most recent years.
Same as annual.
Judgmental trend.
Nonfarm buildings
($97.8)
Value put in place from Census Bureau monthly construction
survey.
Same as annual.
Public utilities: Telephone and
telegraph
($7.8)
Public utilities: Other
($18.3)
Mining exploration, shafts, and
wells
($12.0)
Nonresidential
structures
($ 140.3)5
Various source data.
Value put in place from Census Bureau monthly construction
survey.
Same as annual.
Expenditures from Federal regulatory agencies and trade sources.
Anticipated expenditures from Census
Bureau plant and equipment survey.
Same as annual for years other than
benchmark years.
Other nonfarm structures
($2.3)
Farm buildings
($2.1)
See footnotes at end of table.
Benchmark years—Expenditures from Census Bureau
quinquennial census of mineral industries.
Other years—For petroleum and natural gas, physical quantity
times average price: Footage drilled and cost per foot from
trade sources; for other mining, expenditures from Census
Bureau plant and equipment survey.
Value put in place from Census Bureau monthly construction
survey.
Expenditures for new construction from Dept. of Agriculture
surveys.
Same as annual.
Judgmental trend of value put in place
from Census Bureau.
28
SURVEY OF CURRENT BUSINESS
July 1939
Table 7.—Principal Source Data and Estimating Methods Used in Preparing Current-Dollar Estimates of GNP—Continued
Component (billions of
dollars)
Subcomponent (billions of
dollars)
Annual estimates: Source data and methods used to determine
level for benchmark and other final years or, for other years, used
to prepare an extrapolator or interpolator
Advance quarterly estimates: Source data
and methods used to prepare an
extrapolator
Product side (GNP of $4,880.6 billion in 1988)—Continued
Nonresidential
producers' durable
equipment
($346.8)
Equipment except autos
($325.4)
New and used autos
($21.4)
Residential6 investment
($232.4)
Permanent-site single-family
housing units
($116.6)
Permanent-site multifamily
housing units
($23.3)
Mobile homes
($5.6)
Additions and alterations, and
major replacements
($59.2)
Brokers' commissions
($22.2)
Producers' durable equipment
($6.4)
Change in business
inventories
Manufacturing and trade
($26.3)
($30.6)
Other nonfarm industries
($7.9)
Farm
(-$3.6)
See footnotes at end of table.
Benchmark years—Commodity-flow method, starting with
manufacturers' shipments from Census Bureau quinquennial
census and including an adjustment for exports and imports
from Census Bureau merchandise trade.
Other years—Abbreviated commodity-flow method starting with
manufacturers' shipments from the Census Bureau annual
survey or, for the most recent year (except trucks), monthly
survey of manufactures and including an adjustment for exports
and imports from Census Bureau merchandise trade. For trucks,
for the most recent year, physical quantity purchased times
average retail price: Unit sales and information with which to
allocate sales among business and other purchasers from trade
sources and average price based on Bureau of Labor Statistics
producer price indexes.
For new autos, see entry in personal consumption expenditures;
for used autos, change in business stock of autos at least 1 year
old from trade source.
For trucks, see entry for personal
consumption expenditures; for others in
this group, same as annual for years
other than benchmark years except
with less detail.
Value put in place based on phased housing starts and average
construction cost from Census Bureau monthly construction
surveys.
Value put in place from Census Bureau monthly construction
survey.
Same as annual.
Benchmark years—See entry for equipment except autos in
nonresidential producers' durable equipment.
Other years—Physical quantity shipped times price: Shipments
from trade sources and average retail price from Census Bureau
monthly survey.
Expenditures by owner-occupants from Bureau of Labor Statistics
quarterly consumer expenditure survey and by landlords from
Census Bureau quarterly survey of landlords.
Physical quantity times price times average commission rate:
Number of one-family houses sold, mean sales price, and
commission rates, from Census Bureau monthly construction
survey and trade sources.
See entry for most goods under personal consumption
expenditures.
Same as annual for years other than
benchmark years.
Benchmark years—Inventories from Census Bureau quinquennial
censuses revalued (in effect, by the calculation of the IV A 2 ) to
current replacement cost using information on the commodity
composition of goods held in inventory and the turnover
period, both from the Census Bureau censuses/surveys of
manufacturing and trade, combined with cost of goods held in
inventory, largely from Bureau of Labor Statistics producer
price indexes.
Other years—For petroleum bulk stations, physical quantities
times price: Monthly quantities from the Energy Information
Admin, times a Bureau of Labor Statistics producer price
index; for all other, inventories from Census Bureau annual
surveys or, for the most recent year, monthly surveys, revalued
as described above.
Inventories revalued to current replacement cost (except when
noted as physical quantity times price) using information on the
proportion of inventories reported with different accounting
methods (for example, first-in, first-out) and other information
as described for manufacturing and trade: For years except 2
most recent, Internal Revenue Service tabulations of business
tax returns; in 2 most recent years, Census Bureau quarterly
survey of corporations for mining, monthly quantities from the
Energy Information Admin, times Bureau of Labor Statistics
producer price indexes for electric utilities, and judgmental
trend for all others.
Physical quantities times current prices, from Dept. of Agriculture
surveys.
For new autos, same as annual; for used
autos, judgmental trend.
Same as annual.
Judgmental trend.
Same as annual.
Same as annual.
Same as annual for most recent year.
For electric utilities, same as annual for
most recent year; for all others,
judgmental trend.
Judgmental projection by BEA and Dept.
of Agriculture.
July 1989
SURVEY OF CURRENT BUSINESS
29
Table 7.—Principal Source Data and Estimating Methods Used in Preparing Current-Dollar Estimates of GNP—Continued
Component (billions of
dollars)
Subcomponent (billions of
dollars)
Annual estimates: Source data and methods used to determine
level for benchmark and other final years or, for other years, used
to prepare an extrapolator or interpolator
Advance quarterly estimates: Source data
and methods used to prepare an
extrapolator
Product side (GNP of $4,880.6 billion in 1988)—Continued
Net exports of goods
and services
(-$73.7)
Merchandise exports and
imports, net
(-$127.0)
Receipts and payments of
factor income, net
($33.3)
Receipts and payments for
other services, net
($20.0)
Government purchases
of goods and
services
($968.9)
Federal national defense
($298.0)
Federal nondefense
($83.3)
State and local compensation
($346.5)
State and local structures
($69.3)
State and local other than
compensation and structures
($171.8)
Estimated as part of the balance of payments: Import and export
documents compiled monthly by the Census Bureau with
adjustments by BEA for coverage and valuation to put them on
a balance-of-payments basis and then on a NIPA basis.
Estimated as part of the balance of payments: For direct
investment income, BEA surveys of U.S. companies with
affiliates abroad and of U.S. affiliates of foreign companies; for
other income, holdings or transactions from Treasury Dept.
surveys times appropriate yields or interest rates and reports by
U.S. Government agencies of interest receipts—all adjusted to
NIPA basis.
Estimated as part of the balance of payments: For government
transactions, reports by Federal agencies on their purchases and
sales abroad; for most others in this group (including travel,
passenger fares, other transportation, royalties and license fees,
and private remittances), BEA quarterly or annual surveys
(supplemented with data from other sources)—all adjusted to
NIPA basis. Also includes financial services furnished without
payment; see entry for net interest: imputed—banks, credit
agencies, and investment companies.
Within a control total established by the fiscal year analysis: For
compensation, military wages from the Budget of the United
States prepared by Office of Management and Budget, civilian
wages and benefits from Office of Personnel Management, and
employer contributions for social insurance mainly from
outlays from Monthly Treasury Statement', for purchases by
type, one of three methods, based mainly on data from Dept. of
Defense reports: (1) Physical quantity delivered times price
paid; (2) by category, the ratio of funds for purchases not
estimated by method (1) to total funds times disbursements;
and (3) mainly disbursements.
Within a control total established by the fiscal year analysis: For
Commodity Credit Corporation inventory change, physical
quantity of acquisitions and dispositions from agency reports
times average market price from Dept. of Agriculture; for
financial services furnished without payment, see entry for net
interest: imputed—banks, credit agencies, and investment
companies; for compensation, civilian wages and benefits from
Office of Personnel Management and employer contributions
for social insurance mainly from outlays from Monthly Treasury
Statement', for construction, value put in place from Census
Bureau monthly construction survey; for all other, outlays
from Monthly Treasury Statement.
Mainly tabulations of wages and salaries of employees covered
by State unemployment insurance from Bureau of Labor
Statistics and contributions from the Social Security Admin.,
other agencies administering social insurance programs, and
Census Bureau surveys of State and local government
retirement funds.
For highways, for years except the most recent, expenditures from
the Dept. of Transportation or, for the most recent year,
construction put in place from Census Bureau survey; for
other categories, value of construction put in place from Census
Bureau monthly construction survey.
Years except most recent for State and the 2 most recent for
local—Total expenditures from Census Bureau quinquennial
censuses and annual surveys of these governments, selectively
replaced with source data that are more appropriate for the
NIPA's and adjusted as follows: For coverage, for netting and
grossing differences; and to a calendar year basis from a fiscal
year basis and for other timing differences; to exclude interest,
subsidies, net expenditures of government enterprises, and
transfer payments; and to exclude compensation and structures
as estimated above.
Most recent year for State and 2 most recent years for localjudgmental trend.
1. For profits and interest from the rest of the world, for parts of domestic net interest, and for insurance
other than life insurance and for hotels and motels in PCE, data become available to replace the judgmental
trend by the time of the final estimate in the current quarterly sequence.
2. The IVA on the income side and the IVA mentioned with the change in business inventories on the
product side differ because the source data on the two sides reflect different mixes of methods (last-in, firstout, etc.) underlying reported inventories.
3. Includes $1.9 billion for food produced and consumed on farms, standard clothing issued to military personnel, and used trucks.
4. Also referred to as services furnished without payment by financial intermediaries except life insurance
carriers and private noninsured pension plans.
Same as annual.
Judgmental trend. !
Same as annual.
For components of compensation,
employment from Dept. of Defense,
outlays from Monthly Treasury
Statement, and judgmental trend; for
other, same methods as annual, with
partial data for (1) and outlays from
Monthly Treasury Statement and
judgmental trend for (2) and (3).
For components of compensation,
judgmental trend; for other, same as
annual.
Judgmental trend.
Value put in place from Census Bureau
monthly construction survey.
Same as for most recent year for State
and 2 most recent years for local.
5. Includes brokers' commissions on sale of structures and net purchases of used structures, which summed
to $0.1 billion.
6. Includes -$0.8 billion for other structures (dormitories, fraternity and sorority houses, nurses' homes, etc.)
and net purchases of used structures.
CCAdj Capital consumption adjustment.
IVA Inventory valuation adjustment.
NIPA National income and product account.
Source: 1988 estimates—SURVEY OF CURRENT BUSINESS, July 1989.
July 1989
SURVEY OF CURRENT BUSINESS
30
Table 8.—Methodology Used in Preparing Constant-Dollar Estimates of GNP
Deflation, using price based on—
Component
Subcomponent
Components of the
Consumer Price
Index (CPI) or the
Producer Price Index
(PPI)
Most goods (goods except
subcomponents listed
separately).
New trucks
New and used autos
Except as noted, CPI;
military clothing,
PPL
CPI
New autos, CPI
Gasoline and oil....
Food furnished employees
(including military).
Expenditures abroad by U.S.
residents less personal
remittances in kind to
foreigners.
Nonfarm housing—space
rent and rent.
Farm housing—rent
Except as noted, CPI
See footnotes at end of table.
Extrapolation
Direct valuation
Computers, BEA price index
CPI
CPI
Auto and other repair, legal
and funeral services,
barbershops and beauty
parlors, nursing homes,
laundries, employment
agency fees, accountant
and tax return preparation
services, recreation
(except video cassette
rentals, cable TV,
parimutuel net receipts,
and lotteries), hotels and
motels, and commercial
education.
Physicians, dentists, and
other medical professional
services.
Private elementary and
secondary schools,
welfare activities, and
trade unions and
professional associations.
Financial services furnished
without payment by
banks, credit agencies,
and investment
companies l.
Personal
consumption
expenditures
Other
Using quantity for —
Used autos, in two parts:
(1) Margin, unit sales
from trade sources
with dealer margins
from Census Bureau
and trade sources; (2)
change in stock, based
on unit sales and BEA
constant-dollar value,
with depreciated
original value in baseyear dollars.
Foreign consumer price indexes
(exchange-rate adjusted).
CPI
BEA net stock of farm
dwellings based on Dept.
of Agriculture data.
Nursing homes, clubs and
fraternal organizations and
commercial education, BEA
earnings and expense index.
CPI
BEA earnings and expense
indexes.
Paid employee hours of
relevant financial
institutions.
July 1989
31
SURVEY OF CURRENT BUSINESS
Table 8.—Methodology Used in Preparing Constant-Dollar Estimates of GNP—Continued
Deflation, using price based on—
Component
Personal
consumption
expenditures—
Continued
Subcomponent
Brokerage charges and
investment counseling,
bank service charges,
intercity transportation,
and private higher
education.
Domestic services ....
Insurance, hospitals except
nursing homes, religious
activities, cable TV,
utilities, and local
transport.
Water and other sanitary
services, and lotteries.
Foreign travel by U.S.
residents less expenditures
in the United States by
foreigners.
Other services: Video
cassette rentals and
parimutuel net receipts;
other housing except
hotels and motels; other
education and research
except commercial
education; bridge, etc.
tolls; other household
operation except repairs
and insurance; travel and
entertainment card fees;
stenographic and
reproduction services; and
money orders and
classified advertising.
Nonresidential
structures
Components of the
Consumer Price
Index (CPI) or the
Producer Price Index
(PPI)
Except as noted, CPI ... Other brokerage charges and
investment counseling, BEA
stock brokerage index;
airline transportation, BEA
index based on revenue
passenger miles from Dept.
of Transportation averaged
with consumer price index
component; higher education,
BEA earnings and expense
index.
Expenditures in the
United States, CPI.
Mining exploration, shafts,
and wells.
Auto insurance, deflated
premiums; health
insurance, deflated
benefits.
Foreign travel, foreign
consumer price indexes
(exchange-rate adjusted).
Except as noted, CPI... Other education and research,
BEA earnings and expense
index; bridge, etc. tolls, BEA
index based on trade source
data.
Gas and petroleum
pipelines, PPI.
Casing, PPI
See footnotes at end of table.
Stock brokerage charges,
BEA orders derived from
volume data from
Securities and Exchange
Commission or trade
source.
CPI
Public utilities
Farm buildings
Extrapolation
CPI
Except as noted, CPI ... Life insurance and religious
activities, BEA earnings and
expense index; nonprofit
hospitals, input price index
from Health Care Financing
Admin.
Nonfarm buildings
Other nonfarm structures
Other
Using quantity for —
Cost index from trade source
and price of new houses
from Census Bureau.
Telephone and telegraph, cost
index from trade source;
other, cost indexes from
government agencies and
trade sources.
Exploration, cost index from
trade source; mines, implicit
price deflator for nonfarm
nonresidential buildings.
Cost indexes from government
agencies.
Cost index from trade source
and price of new houses
from Census Bureau.
Parimutuel net receipts,
deflated winnings.
Footage by type from trade
source.
Direct valuation
32
SURVEY OF CURRENT BUSINESS
July 1989
Table 8.—Methodology Used in Preparing Constant-Dollar Estimates of GNP—Continued
Deflation, using price based on—
Component
Subcomponent
Components of the
Consumer Price
Index (CPI) or the
Producer Price Index
(PPI)
Equipment except autos and
telephone and telegraph
installation.
Domestic
components, except
as noted, PPI.
New and used autos .
Nonresidential
producers'
durable
equipment
Other
New autos CPI
Direct valuation
Used autos, in two parts:
(1) Margin, unit sales
from trade sources
with dealer margins
from Census Bureau
and trade sources; (2)
change in stock, based
on unit sales and BEA
constant-dollar value,
with depreciated
original value in baseyear dollars.
Cost index from trade source
Permanent-site housing units.
Price of new houses from
Census Bureau.
Price of new houses from
Census Bureau.
Price of new houses from
Census Bureau.
Additions and alterations,
and major replacements.
Brokers' commissions
CPI
Producers' durable
equipment.
Mobile homes
Change in business
inventories
Extrapolation
Imported components, except
computers and transportation
equipment, Bureau of Labor
Statistics import price
indexes; ships, annually,
index from Maritime
Admin.; computers, BEA
price index.
Telephone and telegraph
installation.
Residential
investment
Using quantity for —
PPI
Nonfarm: Purchased goods,
all industries.
Nonfarm: Work-in-process
and finished goods,
manufacturing.
Farm
Except as noted, PPI.... Crude petroleum, index from
Energy Information Admin..
Except as noted, PPI; BEA unit labor cost
some overhead cost
items, CPI.
PPI
Quantities by crop with
prices, both from
Dept. of Agriculture.
Bureau of Labor Statistics
export and import price
indexes 4; Census Bureau
monthly unit-value indexes;
implicit price deflators
(including, for computers,
BEA price index); and gold
price from trade source.
Except as noted, implicit price
deflator for net domestic
product.
Merchandise exports and
imports, net 3.
Net exports of goods
and services 2
Receipts and payments of
factor income, net 3.
Receipts and payments for
other services, net 3.
See footnotes at end of table
Travel receipts and
foreign students'
expenditures, CPI;
railroad freight,
PPI.
Military transfers and direct
defense expenditures abroad,
selected implicit price
deflators for national defense
purchases (see below); travel
payments, students'
expenditures abroad, and
U.S. Government payments
for miscellaneous services,
foreign consumer price
indexes (exchange-rate
adjusted); royalties and fees,
and other private services,
implicit price deflator for
gross domestic product.
Imputed interest paid to
foreigners, paid employee
hours of relevant
institutions.
Financial services furnished
without payment \ paid
employee hours of
relevant financial
institutions; several parts
of freight and port
expenditures, relevant
tonnage.
SURVEY OF CURRENT BUSINESS
July 1989
33
Table 8.—Methodology Used in Preparing Constant-Dollar Estimates of GNP—Continued
Deflation, using price based on—
Component
Subcomponent
Federal national defense
Government
purchases of
goods and services
Federal nondefense
Components of the
Consumer Price
Index (CPI) or the
Producer Price Index
(PPI)
Selected goods, PPI;
utilities and
communications,
CPI and PPL
Most goods, PPI;
rent, utilities, and
communications,
CPI.
Other
Extrapolation
Direct valuation
Some goods, some services,
and most military structures,
BEA indexes based on Dept.
of Defense prices paid; some
services, BEA earnings
index; computers, BEA price
index; nonmilitary structures,
cost indexes from trade
sources and government
agencies.
Structures, cost indexes from
trade sources and
government agencies;
computers, BEA price index;
most services, BEA earnings
indexes.
Military compensation, fulltime equivalent
employment by rank and
length of service; civilian
compensation, full-time
equivalent employment by
grade adjusted for change
from base year in hours
worked.
Many goods, some
services, and a few
military structures,
quantities with prices,
both from Dept. of
Defense reports.
Compensation, full-time
equivalent employment by
grade adjusted for change
from base year in hours
worked; financial services
furnished without
payment ], paid employee
hours of relevant financial
institutions.
Commodity Credit
Corporation inventory
change, quantities by
crop from agency
reports with Dept. of
Agriculture prices;
selected petroleum
transactions, quantities
with prices, both from
Dept of Energy.
For employees in education,
full-time equivalent
employment by education
and experience times
change from base year in
hours worked; for other
employees, full-time
equivalent employment
times change from base
year in hours worked.
State and local
compensation.
State and local structures
State and local other than
compensation and
structures.
Services except as
noted and goods
used in
maintenance and
repair, CPI; goods
except as noted and
electricity, PPI.
Cost indexes from trade
sources and government
agencies.
Transportation, books, and
postal services, BEA indexes
based on Dept. of Defense
prices paid; computers, BEA
price index.
1. Also referred to as services furnished without payment by financial intermediaries except life insurance
carriers and private noninsured pension plans.
2. Entries are representative; for full detail, see table 9, SURVEY OF CURRENT BUSINESS, November 1986, pp.
35-36.
3. Constant-dollar estimates of exports and imports (or receipts and payments) are prepared separately.
4. The export and import price indexes, which are for the third month of the quarter, are interpolated to
obtain quarterly averages.
Using quantity for —
Financial services furnished
without payment }, paid
hours of relevant financial
institutions.
34
SURVEY OF CURRENT BUSINESS
July 1989
APPENDIX A.—Revisions in National Income and Product Accounts
Account 1.—National Income and Product Account
[Billions of dollars]
1987
1986
1985
Previously
Revised
Revision
Previously
published
Revised
1988
Revision
Previously
published
Revised
Revision
4,014.9
4,240.3
4,231.6
-8.7
4,526.7
4,524.3
-2.4
4,864.3
4,880.6
16.3
2,629.0
1,283.4
1,345.6
2,807.5
1,350.1
1,457.3
2,797.4
1,348.0
1,449.5
-10.1
-2.1
-7.8
3,012.1
1,419.8
1,592.3
3,010.8
1,419.1
1,591.7
-1.3
-.7
-.6
3,227.5
1,498.0
1,729.6
3,235.1
1,507.5
1,727.6
-2.0
631 8
4429
188.8
6504
433.9
216.6
6525
435.2
217.3
21
1.3
.7
6737
446.8
226.9
6706
444.3
226.4
-3.1
-2.5
718.1
488.4
229.7
719.6
487.2
232.4
-1.2
11 3
155
392
293
-8.8
-1.8
30.5
-1.3
48.4
42.2
.1
40.7
-1.5
-9.9
-10.2
-3.3
17.4
-1.9
69
8.6
-86
146
.2
6.1
30.6
34.2
-3.6
-178
-8.0
-9.7
-1044
3784
482.8
-974
396.5
493.8
70
18.1
11.0
-123.0
428.0
551.1
-112.6
448.6
561.2
10.4
20.6
10.1
-94.6
519.7
614.4
-73.7
547.7
621.3
20.9
28.0
Imports
-780
3709
448.9
Federal
State and local
8208
355.2
4656
871 2
366.2
5050
8722
366.5
505.7
10
.3
.7
9247
382.0
542.8
9261
381.6
544.5
1.4
-.4
1.7
964.9
381.0
583.9
9689
381.3
587.6
40
.3
3.7
4,019.6
4,253.9
4,233.4
-20.5
4,534.8
4,529.0
-5.8
4,878.6
4,890.2
11.6
23675
19752
3924
2507 1
2094.0
413.1
25114
2,094.8
416.6
43
.8
3.5
2,683.4
2,248.4
435.0
2,690.0
2,249.4
440.7
6.6
1.0
5.7
2,904.7
2,436.9
467.8
2,907.6
2,429.0
478.6
-7.9
10.8
2559
30.2
225.6
286.7
36.4
250.3
282.0
34.7
247.2
-4.7
-1.7
-3.1
312.9
43.0
270.0
311.6
41.6
270.0
-1.3
-1.4
324.5
36.3
288.2
327.8
39.8
288.0
3.3
3.5
-.2
-3.6
Gross national product
Personal consumption expenditures
Goods
rivate domestic fixed investment
N
d
ti 1
Residential
N °f
Farm
F
t
°
.
Charges against gross national product
ri
1
Supplements to wages and salaries
.
W
.
Proprietors' income with IVA and CCAdj
.
Nonfarm
0
7.6
9.5
15
2.7
6.9
2.9
92
124
11 6
-8
184
13.4
-5.0
19.3
15.7
2823
2989
282.1
-16.8
310.4
298.7
-11.7
328.4
328.6
.2
3190
331.9
325.5
-6.4
353.6
351.7
-1.9
391,5
392.9
1.4
3,234.0
3,437.1
3,412.6
-24.5
3,678.7
3,665.4
-13.3
3,968.4
3,972.6
4.2
4372
468.2
31.0
4559
488.4
32.5
460.1
491.5
31.4
4.2
3.1
486.7
507.1
20.4
6.7
-.5
-1.1
480.0
507.6
27.6
506.3
524.5
18.1
513.6
526.4
12.8
-5.3
3484
360.9
360.7
-.2
376.1
376.9
.8
403.8
404.0
.2
-4.8
-13.6
-1,8
11.8
-8.1
-4.7
3.4
-14.3
-9.6
4.7
Rental income of ersons with CCAd"
Corporate profits with IVA and CCAdj
National income
r 't i
.
t° 11
Less- CCAdj
Statistical discrepancy
-7.2
7.3
1.9
CCAdj Capital consumption adjustment.
IVA Inventory valuation adjustment.
Source: Tables 1.1, 1.9, and 1.14 of the "National Income and Product Accounts Tables."
Account 2.—Personal Income and Outlay Account
[Billions of dollars]
1987
1986
1985
Revision
Previously
published
Revised
1988
Revision
Previously
published
Revised
Revision
.
-49
37800
37776
24
4 062 1
4064 5
24
8
32
-47
-8
30
-59
-4
22484
2079
3129
22494
2128
311 6
10
5270
3768
523 2
375 3
-1 3
50
34
-3 8
15
24369
218 3
3245
19 3
96 3
575 9
390 9
24290
228 9
327 8
15 7
102 2
571 1
389 8
79
10 6
33
36
499.1
3600
2094 8
199.3
282.0
11 6
85 8
493.2
3596
4866
2,838.7
511 4
3,019.6
5129
3,013.3
15
-63
5703
32097
571 7
32059
14
38
590 3
3 471 8
586 6
3 477 8
37
27133
125.4
28980
121.7
28885
124.9
-95
32
3 1055
1042
3 104 1
101 8
14
24
3 327 5
144 3
3 333 1
144 7
r f
4.4
4.0
4.1
1
32
32
42
42
92
787
Personal dividend income
Personal interest income
Transfers less personal contributions for social insurance
.
3,5262
20940
1961
2867
478.0
3405
Proprietors' income with IVA and CCAdj
3,531 1
1 9754
187.6
255.9
Wage and salary disbursements
.
.
.
Eauals' Personal savins
Addendum:
Personal saving rate (percent)
CCAdj Capital consumption adjustment.
IVA Inventory valuation adjustment.
Source: Table 2.1 of the "National Income and Product Accounts Tables."
Revised
3,3253
Personal income
Less' Personal tax and nontax payments
Equals' Disposable personal income
Previously
published
.
124
828
184
886
134
920
49
o
cO
—4 8
— 1*1
ao
Q
SURVEY OF CURRENT BUSINESS
July 1989
35
APPENDIX A.—Revisions in National Income and Product Accounts
Account 3.—Government Receipts and Expenditures Account
[Billions of dollars]
1986
1985
Previously
published
1987
Revision
Revised
Previously
published
1988
Revision
Revised
Previously
published
Revision
Revised
Federal:
Receipts
Expenditures
Surplus or deficit (— ) national income product and accounts
7887
9856
-1969
828 3
1 0339
-205 6
8279
1 0348
-2069
-04
9
-1 3
9165
1 0742
157 8
911 4
1 072 8
161 4
51
14
36
975 2
1 117 6
—142 3
9724
11183
145 8
2g
State and local:
Receipts
Expenditures
Surplus or deficit (— ) national income and product accounts
Social insurance funds
Other funds
581.8
5167
65 1
51 3
13 8
623.0
561 9
61 2
562
50
6263
563 5
62 8
572
56
33
16
16
10
6
6557
602 8
529
62 1
92
656 1
604 8
51 3
63 7
124
4
20
16
16
32
703 1
647 9
55 2
68 5
13 3
701 6
65: 9
49 7
71 1
21 4
15
40
55
26
81
«
7
35
Source: Tables 3.2 and 3.3 of the "National Income and Product Accounts Tables."
Account 4.—Foreign Transactions Account
[Billions of dollars]
Factor income net
Receipts
.
-78.0
. .
.
.
Receints
Previously
published
Revision
Revised
-104.4
-97.4
-120.1
220.8
340.9
40.8
89.7
48.9
1.4
60.5
59.1
Net exports of goods and services
Merchandise net
Exports
Previously
published
1988
1987
1986
1985
-142.7
225.0
367.7
34.9
87.5
52.6
3.4
65.9
62.5
-143.4
2244
3678
34.4
87.1
52.7
11.5
84.9
73.4
Previously
published
7.0
_ f
-.6
.1
-.5
-.4
.1
8.1
19.0
10.9
-123.0
-112.6
10.4
-94.6
-73.7
20.9
-158.2
254.8
413.0
29.5
96.1
66.6
5.7
77.2
71.5
-157.3
255.1
412.4
30.5
96.6
66.1
14.3
97.0
82.7
.9
.3
-.6
1.0
.5
-.5
8.6
19.8
11.2
-128.1
321.6
449.7
24.9
111.9
87.0
8.6
86.3
77.7
-127.0
322.0
4490
33.3
116.7
83.4
20.0
108.9
88.9
1.1
4
-.7
8.4
4.8
-3.6
11.4
22.6
11.2
Revision
Revised
Revision
Revised
36.4
38.0
38.5
.5
37.6
38.4
.8
41.6
43.8
2.2
-1 14.4
Less: Capital grants, transfer payments, and net interest paid by government to foreigners
-142.4
-135.8
6.6
-160.6
-150.9
9.7
-136.2
-117.5
18.7
Revision
Previously
published
Source: Table 4.1 of the "National Income and Product Accounts Tables."
Account 5.—Gross Saving and Investment Account
[Billions of dollars]
Previously
published
1988
1987
1986
1985
Revision
Revised
Previously
published
Revised
Revision
Revised
533.5
Government surplus or deficit (—) national income and product accounts . . .
.
Capital grants received by the United States (net)
Gross investment
Statistical discrepancy
»
*
CCAdj Capital consumption adjustment.
IVA Inventory valuation adjustment.
Source: Table 5.1 of the "National Income and Product Accounts Tables."
-11.9
560.4
553.8
-6.6
6446
6424
-22
6695
1249
845
2859
1742
-121
6638
101 8
753
303 1
1836
0
-1 5
731 8
1443
81 1
3157
190.6
738 6
1447
35
.7
0
6653
1042
81 1
2975
182.5
0
68
4
-8
60
-131.8
-1444
-144 1
3
-1049
-110 1
-52
-872
-96 1
0
o
o
0
o
o
528.7
523.6
523.6
552.3
549.0
-3.3
630.3
632.8
2.5
643.1
-114.4
.
525.3
681.6
1217
1041
2824
173.5
0
Personal saving
.
Undistributed corporate profits with IVA and CCAdj
.
Corporate capital consumption allowances with CCAdj
Noncorporate capita] consumption allowances with'VCCAdj
537.2
665.3
125.4
102.6
268.6
168.7
0
Gross saving
665.9
-142.4
659.4
-135.8
-6.5
699.9
-150.9
-13.0
6.6
712.9
-160.6
9.7
766.5
-136.2
750.3
-117.5
-16.2
18.7
11.8
-8.1
-4.7
3.4
-14.3
-9.6
4.7
-4.8
o
-13.6
o
-1.8
32
-196
o
o
-24
-5 8
56
1.1
0
0
0
803
321 7
1919
0
13
0
-89
o
36
SURVEY OF CURRENT BUSINESS
July 1989
APPENDIX B.—Summary National Income and Product Accounts, 1988
Account 1.—National Income and Product Account
[Billions of dollars]
Line
Line
1 Compensation of employees
2
Wages and salaries
3
Disbursements (2-7)
4
Wage accruals less disbursements (3-12 and 5-4)
5
Supplements to wages and salaries
6
Employer contributions for social insurance (3-20)
7
Other labor income (2-8)
2,907.6
2,429.0
24290
0
478.6
249.7
2289
g Proprietors' income with inventory valuation and capital consumption adjustments (2-9).
9 Rental income of persons with capital consumption adjustment (2-10)
327.8
157
328.6
306.8
1379
168 9
110.4
10 Corporate profits with inventory valuation and capital consumption adjustments
11
Profits before tax
12
Profits tax liability (3-17)
Profits after tax .
..
13
Dividends (2-12)
14
Undistributed profits (5-6)
15
Inventory valuation adjustment (5-7)
....
16
Capital consumption adjustment (5-8)
.
...
.
17
585
-250
..
468
392.9
18 Net interest (2-15)
19 National income
3,235.1
455 2
1 0523
17276
27 Personal consumption expenditures (2-3)
28
Durable goods
29
Nondurable goods
30
Services
31 Gross private domestic investment (5-1)
32
Fixed investment
Nonresidential
33
34
Structures
35
Producers' durable equipment
36
Residential
37
Change in business inventories
...
750.3
7196
4872
1403
346.8
2324
306
38 Net exports of goods and services
Exports (4-1)
39
Imports (4-3)
40
-73 7
5477
621 3
41 Government purchases of goods and services (3-1)
42
Federal
. .
43
National defense
.
44
Nondefense
45
State and local
9689
381 3
2980
833
5876
.
. 3,972.6
290
.
.
...
20 Business transfer payments (2-20)
21 Indirect business tax and nontax liability (3-18)
22 Less' Subsidies less current surplus of government enterprises (3-11)
23 Charges aaainst net national product
393.5
18.5
4,376.7
,
513.6
24 Capital consumption allowances with capital consumption adjustment (5-9)
4,890.2
25 Charges against gross national product
26 Statistical discrepancy (5-12)
-96
.
GROSS NATIONAL PRODUCT
4,880.6
.
4,880.6
GROSS NATIONAL PRODUCT
Account 2.—Personal Income and Outlay Account
[Billions of dollars]
Line
Line
1 Personal tax and nontax payments (3-16)
<
.
5866
2
7 Wage and salary disbursements (1-3)
,.
2,429 0
8 Other labor income (1-7)
3
Personal consumption expenditures (1-27)
4
Interest paid by consumers to business (2-18)
5
py
3,235.1
96 1
&
5 Personal saving (5-3)
144 7
2289
9 Proprietors' income with inventory valuation and capital consumption adjustments (1-8)
327.8
10 Rental income of persons with capital consumption adjustment (1-9)
14 Personal interest income
Net interest (1-18)
15
Interest paid by government to persons and business (3-7)
16
17
Less: Interest received by government (3-9)
18
Interest paid by consumers to business (2-4)
.
19 Transfer payments to persons
20
From business (1-20) ....
21
From government (3-3)
22 Less' Personal contributions for social insurance (3-21)
PERSONAL TAXES, OUTLAYS, AND SAVING
4,064.5
157
11 Personal dividend income
Dividends (1-14)
12
Less' Dividends received by government (3-10)
13
PERSONAL INCOME
W2
1104
83
.
571 1
3929
2047
1226
96 1
5847
29.0
5557
1949
4,064 5
SURVEY OF CURRENT BUSINESS
July 1989
37
APPENDIX B.—Summary National Income and Product Accounts, 1988
Account 3.—Government Receipts and Expenditures Account
[Billions of dollars]
Line
Line
1 Purchases of goods and services (1-41)
968.9
16 Personal tax and nontax payments (2-1)
2 Transfer payments
3
To persons (2-21)
4
To foreigners (net) (4-6)
568.6
555.7
17 Corporate profits tax liability (1-12)
137.9
18 Indirect business tax and nontax liability (1-21)
3935
5 Net interest paid .
.
6
Interest paid
. .
7
To persons and business (2-16)
8
To foreigners (4-7)
9
Less' Interest received by government (2-17)
111.1
2337
204.7
29.1
122.6
19 Contributions for social insurance
Employer (1-6)
20
Personal (2-22)
21
444 6
2497
194 9
129
586.6
8.3
10 Less' Dividends received by government (2-13)
H Subsidies less current surplus of government enterprises (1-22)
18.5
0
12 Less' Wage accruals less disbursements (1-4)
13 Surplus or deficit (—), national income and product accounts (5-10)
Federal
.
...
14
State and local
..
15
-96.1
-145.8
497
,
» . ..
1,562.7
GOVERNMENT EXPENDITURES AND SURPLUS
GOVERNMENT RECEIPTS
. 1,562.7
Account 4.—Foreign Transactions Account
[Billions of dollars]
Line
Line
1 Exports of goods and services (1-39)
3 Imports of goods and services (1-40)
621.3
4 Transfer payments to foreigners (net)
5
From persons (net) (2-5)
6
547.7
2
14.7
1.9
12.9
7 Interest paid by government to foreigners (3-8)
RECEIPTS FROM FOREIGNERS
. . .
.
..
PAYMENTS TO FOREIGNERS
547.7
29.1
-1 17.5
8
5477
Account 5.—Gross Saving and Investment Account
[Billions of dollars]
Line
Line
1 Gross private domestic investment (1-31)
2 Net foreign investment (4-8)
750.3
—117.5
3 Personal saving (2-6)
4 Wage accruals less disbursements (1-4)
1447
o
5 Undistributed corporate profits with inventory valuation and capital consumption adjustments...
6
Undistributed corporate profits (1-15)
7
Inventory valuation adjustment (1-16)
8
Capital consumption adjustment (1-17)
80.3
585
-250
9 Capital consumption allowances with capital consumption adjustment (1-24)
5136
10 Government surplus or deficit (—), national income and product accounts (3-13)
11 Capital grants received by the United States (net) (4-2)
12 Statistical discrepancy (1-26)
GROSS INVESTMENT
632.8
NOTE.—Numbers in parentheses indicate accounts and items of counterentry in the accounts. For example,
the counterentry for wage and salary disbursements, (2-7), is in account 2, line 7.
GROSS SAVING AND STATISTICAL DISCREPANCY
468
-961
o
-96
632 8
National Income and Product Accounts Tables
Revised estimates for 1986 through the first quarter of
1989 and advance estimates for the second quarter of 1988
are shown in the tables that follow. Estimates shown for
1985 are now revised. Estimates for 1983, 1984, and 1985
appeared in the July 1986, 1987, and 1988 issues, respectively, of the SURVEY OF CURRENT BUSINESS. Estimates for
1929-82 appeared in The National Income and Product
Accounts of the United States, 1929-82: Statistical Tables
(available from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402: Stock No.
003-010-00174-7, price $23.00).
1. National Product and Income
1.1
1.2
1.3
1.4
1.5
1.6
1.7
1.8
1.9
1.10
1.11
1.12
1.13
1.14
1.15
1.16
1.17
1.18
1.19
1.20
1.21
1.22
1.23
1.24
Gross National Product: QA
Gross National Product in Constant Dollars: QA
Gross National Product by Major Type of Product: QA
Gross National Product by Major Type of Product in Constant
Dollars: QA
Relation of Gross National Product, Gross Domestic Purchases, and
Final Sales to Domestic Purchasers: QA
Relation of Gross National Product, Gross Domestic Purchases, and
Final Sales to Domestic Purchasers in Constant Dollars: QA
Gross National Product by Sector: QA
Gross National Product by Sector in Constant Dollars: QA
Relation of Gross National Product, Net National Product, National
Income, and Personal Income: QA
Relation of Gross National Product, Net National Product, and
National Income in Constant Dollars: QA
Command-Basis Gross National Product in Constant Dollars: QA
Net National Product and National Income by Sector: A
Net National Product and National Income by Sector in Constant
Dollars: A
National Income by Type of Income: QA
National Income by Sector, Legal Form of Organization, and Type of
Income: A
Gross Domestic Product of Corporate Business in Current Dollars
and Gross Domestic Product of Nonfinancial Corporate Business
in Current and Constant Dollars: QA
Auto Output: QA
Auto Output in Constant Dollars: QA
Truck Output: QA
Truck Output in Constant Dollars: QA
Farm Sector Output, Gross Product, and National Income: A
Farm Sector Output, Gross Product, and National Income in Constant
Dollars: A
Housing Sector Output, Gross Product, and National Income: A
Housing Sector Output, Gross Product, and National Income in
Constant Dollars: A
The tables contain annual, quarterly, and monthly estimates, indicated as follows:
A
Q
QA
MA
An index of items appearing in the national income and
product accounts tables is available from the Government
Printing Office. For order information, see the inside back
cover.
Page
40
40
41
41
41
42
42
42
43
43
43
44
44
45
46
47
48
48
48
48
49
49
49
49
3. Government Receipts and Expenditures
3.1
3.2
3.3
3.4
3.5
3.6
3.7B
3.8B
Government Receipts and Expenditures: A
Federal Government Receipts and Expenditures: QA
State and Local Government Receipts and Expenditures: QA
Personal Tax and Nontax Receipts: A
Indirect Business Tax and Nontax Accruals: A
Contributions for Social Insurance: A
Government Purchases of Goods and Services by Type: QA
Government Purchases of Goods and Services by Type in Constant
Dollars: QA
3.9
National Defense Purchases: QA
3.10 National Defense Purchases in Constant Dollars: QA
3.11 Government Transfer Payments to Persons: A
3.12 Subsidies Less Current Surplus of Government Enterprises: A
3.13 Social Insurance Funds Receipts and Expenditures: A
3.14 Government Expenditures by Function: A
3.15 Federal Government Expenditures by Type and Function: A
3.16 State and Local Government Expenditures by Type and Function: A
3.17B Relation of Federal Government Receipts and Expenditures in the
National Income and Product Accounts to the Unified Budget,
Fiscal Years: QA, Quarterly Totals Not Seasonally Adjusted
3.18 Relation of State and Local Government Receipts and Expenditures
in the National Income and Product Accounts to Bureau of
Census Government Finances Data, Fiscal Years: A
3.19 Relation of Commodity Credit Corporation Expenditures in the
National Income and Product Accounts to Commodity Credit
Corporation Outlays in the Unified Budget, Fiscal Years: A
2.1
2.2
2.3
2.4
2.5
2.6
2.7
2.8
2.9
Personal Income and Its Disposition: QA
Personal Consumption Expenditures by Major Type of Product: QA
Personal Consumption Expenditures by Major Type of Product in
Constant Dollars: QA
Personal Consumption Expenditures by Type of Expenditure: A
Personal Consumption Expenditures by Type of Product in Constant
Dollars: A
Personal Income by Type of Income: MA
Personal Income and Its Disposition:: MA
Personal Consumption Expenditures by Major Type of Product: MA
Personal Consumption Expenditures by Major Type of Product in
Constant Dollars: MA
38
Page
57
57
58
59
59
59
60
60
61
61
62
62
62
62
63
65
67
68
68
4. Foreign Transactions
4.1
4.2
4.3
4.4
4.5
2. Personal Income and Outlays
Only annual estimates
Only quarterly estimates
Quarterly and annual estimates
Monthly and annual estimates
50
51
51
Foreign Transactions in the National Income and Product
Accounts: QA
Exports and Imports of Goods and Services in Constant Dollars: QA
Merchandise Exports and Imports by Type of Product and by
End-Use Category: QA
Merchandise Exports and Imports by Type of Product and by
End-Use Category in Constant Dollars: QA
Relation of Foreign Transactions in the National Income and Product
Accounts (NIPA's) to the Corresponding Items in the Balance of
Payments Accounts (BPA's): A
69
69
70
70
71
5. Saving and Investment
52
53
54
55
56
56
5.1
5.2
5.3
Gross Saving and Investment: QA
Gross Private Domestic Investment, Capital Consumption
Allowances with Capital Consumption Adjustment, and Net
Private Domestic Investment by Major Type of Investment: A
Gross Private Domestic Investment, Capital Consumption
Allowances With Capital Consumption Adjustment, and Net
Private Domestic Investment by Major Type of Investment in
Constant Dollars: A
72
72
72
July 1989
Page
Purchases of Structures by Type: A
73
Purchases of Structures by Type in Constant Dollars: A
73
Private Purchases of Producers' Durable Equipment by Type: A
74
Private Purchases of Producers' Durable Equipment by Type in
74
Constant Dollars: A
5.8
Change in Business Inventories by Industry: QA
75
5.9
Change in Business Inventories by Industry in Constant Dollars: QA 75
5.10 Inventories and Final Sales of Business by Industry: Seasonally
76
Adjusted Quarterly Totals: Q
5.11 Inventories and Final Sales of Business by Industry in Constant
76
Dollars: Seasonally Adjusted Quarterly Totals: Q
5.12 Fixed Investment by Type: QA
77
5.13 Fixed Investment by Type in Constant Dollars: QA
77
5.4
5.5
5.6
5.7
6.1
Gross National Product by Industry: A
6.2
Gross National Product by Industry in Constant Dollars: A
6.3B National Income Without Capital Consumption Adjustment by
Industry: QA
6.4B Compensation of Employees by Industry: A
6.5B Wages and Salaries by Industry: A
6.6B Full-Time and Part-Time Employees by Industry: A
6.7B Full-Time Equivalent Employees By Industry: A
6.8B Wages and Salaries per Full-Time Equivalent Employee by
Industry: A
6.9B Self-Employed Persons by Industry: A
6.1 OB Persons Engaged in Production by Industry: A
6.11 Hours Worked by Full-Time and Part-Time Employees by
Industry: A
6.12 Employer Contributions for Social Insurance by Industry: A
6.13 Other Labor Income by Industry and by Type: A
6.14B Nonfarm Proprietors' Income by Industry: A
6.15B Noncorporate Capital Consumption Allowances by Industry: A
6.16B Inventory Valuation Adjustment to Nonfarm Incomes by Legal Form
of Organization and Industry: A
6.17B Net Interest by Industry: A
6.18B Corporate Profits by Industry: QA
6.19B Corporate Profits Before Tax by Industry: A
6.20B Federal, State, and Local Corporate Profits Tax Liability by
Industry: A
6.21B Corporate Profits After Tax by Industry: A
6.22B Net Corporate Dividend Payments by Industry: A
6.23B Undistributed Corporate Profits by Industry: A
6.24B Corporate Capital Consumption Allowances by Industry: A
7.9
7.10
7.11
7.12
7.13
7.14
7.15
7.16
6. Product, Income, and Employment by Industry
*
*
78
79
79
80
80
81
81
82
82
7.17
7.18
84
84
85
85
86
86
87
87
8.1
8.2
8.3
8.5
8.6
8.7
8.8
8.9
8.10
8.11
8.12
8.13
8.14
7. Fixed-Weighted Price Indexes and Implicit Price Deflators
7.2
7.3
7.4
7.5
7.6
7.7
7.8
Fixed-Weighted Price Indexes for Gross National Product, 1982
Weights: QA
Fixed-Weighted Price Indexes for Gross National Product by Major
Type of Product, 1982 Weights: QA
Fixed-Weighted Price Indexes for Relation of Gross National
Product, Gross Domestic Purchases, and Final Sales to
Domestic Purchasers, 1982 Weights: QA
Implicit Price Deflators for Gross National Product: QA
Implicit Price Deflators for Gross National Product by Major Type of
Product: QA
Implicit Price Deflators for Gross National Product by Sector: QA
Implicit Price Deflators for the Relation of Gross National Product,
Net National Product, and National Income: QA
Implicit Price Deflators for Command-Basis Gross National
Product: QA
Fixed-Weighted Price Indexes for Personal Consumption
Expenditures by Major Type of Product, 1982 Weights: QA
Fixed-Weighted Price Indexes for Personal Consumption
Expenditures by Type of Product, 1982 Weights: A
Implicit Price Deflators for Personal Consumption
Expenditures: MA
Fixed-Weighted Price Indexes for Purchases of Structures by Type,
1982 Weights: A
Fixed-Weighted Price Indexes for Private Purchases of Producers'
Durable Equipment by Type, 1982 Weights: A
Fixed-Weighted Price Indexes for Exports and Imports of Goods and
Services, 1982 Weights: QA
Fixed-Weighted Price Indexes for Merchandise Exports and
Imports by Type of Product and by End-Use Category,
1982 Weights: QA
Fixed-Weighted Price Indexes for Government Purchases of Goods
and Services by Type, 1982 Weights: QA
Fixed-Weighted Price Indexes for National Defense Purchases of
Goods and Services, 1982 Weights: QA
Current-Dollar Cost and Profit Per Unit of Constant-Dollar Gross
Domestic Product of Nonfinancial Corporate Business: QA
Page
90
91
91
92
92
93
93
94
94
95
8. Supplementary Tables
8.4
82
83
83
83
84
* Tables 6.1 and 6.2 are not available. See the box on NIPA table changes on
page 11.
7.1
39
SURVEY OF CURRENT BUSINESS
Percent Change From Preceding Period in Selected Series: QA
Selected Per Capita Income and Product Series in Current and
Constant Dollars and Population of the United States: A
Capital Consumption Allowances with Capital Consumption
Adjustment by Legal Form of Organization: A
Capital Consumption Adjustment by Legal Form of Organization and
Type of Adjustment: A
Supplements to Wages and Salaries by Type: A
Rental Income of Persons by Type: A
Dividends Paid and Received: A
Interest Paid and Received: A
Imputations in the National Income and Product Accounts: A
Relation of Capital Consumption Allowances in the National Income
and Product Accounts (NIPA's) to Depreciation and
Amortization as Published by the Internal Revenue Service
(IRS): A
Relation of Nonfarrn Proprietors' Income in the National Income and
Product Accounts (NIPA's) to Corresponding Totals as
Published by the Internal Revenue Service (IRS): A
Relation of Net Farm Income in the National Income and Product
Accounts (NIPA's) to Farm Operators' Income as Published by
the U.S. Department of Agriculture (USDA): A
Relation of Corporate Profits, Taxes, and Dividends in the National
Income and Product Accounts (NIPA's) to Corresponding Totals
as Published by the Internal Revenue Service (IRS): A
Comparison of Personal Income in the National Income and Product
Accounts (NIPA's) with Adjusted Gross Income as Published by
the Internal Revenue Service (IRS): A
96
98
99
99
99
99
100
100
101
102
102
102
103
103
88
9. Seasonally Unadjusted Estimates
88
88
9.1
9.2
89
89
9.3
9.4
89
90
9.5
90
9.6
Gross National Product, Quarterly Totals Not Seasonally Adjusted: Q
Personal Consumption Expenditures by Major Type of Product,
Quarterly Totals Not Seasonally Adjusted: Q
Federal Government Receipts and Expenditures, Quarterly Totals Not
Seasonally Adjusted: Q
State and Local Government Receipts and Expenditures, Quarterly
Totals Not Seasonally Adjusted: Q
Foreign Transactions in the National Income and Product Accounts,
Quarterly Totals Not Seasonally Adjusted: Q
Corporate Profits With Inventory Valuation Adjustment, Quarterly
Totals Not Seasonally Adjusted: Q
Data Availability
The revised estimates, along with the estimates for 1985 and earlier years, are
available on diskette and on magnetic tape. To obtain an order form indicating
the technical specifications of the diskettes and tapes and their cost, write to the
National Income and Wealth Division (BE-54), Bureau of Economic Analysis,
U.S. Department of Commerce, Washington DC 20230 or call (202) 523-0669.
104
104
105
105
106
106
40
SURVEY OF CURRENT BUSINESS
July 1989
1. National Product and Income
Table 1.1.—Gross National Product
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1986
1985
IV
I
II
1988
1987
III
IV
I
III
II
IV
I
II
1989
III
IV
I
II
Gross national product
1
4,014.9 4,231.6 4,524.3 4,880.6 4,107.9 4,181.3 4,194.7 4,253.3 4,297.3 4,388.8 4,475.9 4,566.6 4,665.8 4,739.8 4,838.5 4,926.9 5,017.3 5,113.1 5,194.9
Personal consumption expenditures *
2
2,629.0 2,797.4 3,010.8 3,235.1 2,700.4 2,734.3 2,761.0 2,826.0 2,868.5 2,914.7 2,989.4 3,055.9 3,083.3 3,148.1 3,204.9 3,263.4 3,324.0 3,381.4 3,437.9
3
4
5
372.2 406.0 421.0 455.2 373.2 381.8 393.6 426.4 422.0 401.2 419.2 439.3 424.5 446.4 454.6 452.5 467.4 466.4 470.3
911.2 942.0 998.1 1,052.3 932.7 939.0 935.4 941.4 952.1 976.4 994.3 1,006.0 1,015.4 1,022.2 1,042.4 1,066.2 1,078.4 1,098.3 1,116.6
1,345.6 1,449.5 1,591.7 1,727.6 1,394.5 1,413.4 1,432.0 1,458.2 1,494.4 1,537.1 1,575.8 1,610.6 1,643.3 1,679.5 1,707.9 1,744.7 1,778.2 1,816.7 1,851.0
Durable goods
Nondurable goods
Services '
.
Nonfarm
Farm
Net exports of goods and services '
Exports '
Government purchases of goods and services
Federal
National defense
Nondefense
State and local
,
6
643.1
659.4
699.9
750.3
654.1
683.8
657.2
647.7
648.8
673.1
684.1
692.8
749.7
728.8
748.4
771.1
752.8
769.6
777.9
631.8
442.9
153.2
289.7
188.8
11.3
14.6
-3.3
652.5
435.2
139.0
296.2
217.3
6.9
8.6
-1.8
670.6
444.3
133.8
310.5
226.4
29.3
30.5
-1.3
719.6
487.2
140.3
346.8
232.4
30.6
34.2
-3.6
646.8
451.3
155.9
295.5
195.5
7.2
23.7
-16.5
643.1
439.3
150.8
288.5
203.9
40.7
38.0
2.7
651.8
434.5
138.1
296.5
217.3
5.4
9.1
-3.7
654.2
431.2
133.6
297.6
223.0
-6.4
-4.6
-1.9
660.9
435.8
133.7
302.2
225.1
-12.2
-8.0
-4.2
647.7
423.9
129.4
294.5
223.8
25.4
26.0
-.6
665.3
437.5
129.5
308.0
227.9
18.8
20.8
-2.0
683.2
457.0
137.3
319.8
226.2
9.5
14.0
-4.5
686.3
458.6
138.9
319.7
227.7
63.3
61.3
2.1
698.7
472.7
137.1
335.6
226.1
30.0
24.2
5.8
719.1
487.1
139.9
347.2
232.1
29.3
30.4
-1.1
726.5
493.2
142.0
351.3
233.2
44.6
41.5
3.1
734.1
495.8
142.5
353.3
238.4
18.7
40.8
-22.2
742.0
503.1
144.7
358.5
238.8
27.7
19.1
8.6
745.5
511.5
142.6
368.9
234.0
32.4
25.3
7.1
15
-78.0
-97.4 -112.6
-73.7 -103.2
-87.1
-92.7 -100.8 -108.9 -106.0 -114.4 -115.3 -114.6
-82.8
-74.9
-66.2
-70.8
-54.0
-52.4
370.9
448.9
396.5
493.8
448.6
561.2
547.7
621.3
369.2
472.4
395.5
482.7
390.7
483.4
397.3
498.0
402.4
511.3
416.5
522.5
437.4
551.8
458.0
573.4
482.6
597.2
521.6
604.3
532.5
607.5
556.8
623.0
579.7
650.5
605.6
659.6
625.2
677.5
18
820.8
872.2
926.1
968.9
856.7
850.3
869.3
880.3
888.9
906.9
916.8
933.2
947.5
945.7
960.1
958.6 1,011.4 1,016.0 1,031.4
, 19
20
21
22
Fixed investment
.
Nonresidential
.
Structures
Producers' durable equipment
Residential
7
8
9
10
11
12
13
14
16
17
Gross private domestic investment
355.2
259.1
96.0
465.6
366.5
277.8
88.7
505.7
381.6
294.8
86.8
544.5
381.3
298.0
83.3
587.6
376.6
268.6
108.0
480.1
358.5
266.8
91.7
491.8
368.7
277.1
91.6
500.6
369.9
286.5
83.4
510.4
368.8
280.7
88.1
520.1
375.6
288.0
87.5
531.4
378.2
294.0
84.2
538.6
384.5
300.2
84.3
548.7
388.1
296.8
91.3
559.4
374.1
297.4
76.7
571.6
377.1
298.0
79.1
583.0
367.5
296.1
71.4
591.0
406.4
300.5
105.9
604.9
III
IV
399.0
298.7
100.4
617.0
403.9
302.4
101.5
627.5
1. See the box on page 21 of the July 1989 SURVEY OF CURRENT BUSINESS.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.2.—Gross National Product in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1987
1986
1985
I
IV
n
III
IV
I
II
1989
1988
III
IV
I
II
I
II
Gross national product
1
3,618.7 3,717.9 3,853.7 4,024.4 3,662.4 3,721.1 3,704.6 3,712.4 3,733.6 3,783.0 3,823.5 3,872.8 3,935.6 3,974.8 4,010.7 4,042.7 4,069.4 4,106.8 4,123.9
Personal consumption expenditures '
2
2,354.8 2,446.4 2,513.7 2,598.4 2,386.9 2,410.9 2,432.4 2,464.4 2,477.8 2,478.3 2,507.7 2,536.5 2,532.3 2,570.8 2,586.8 2,608.1 2,627.7 2,641.0 2,648.2
3
4
5
355.1 384.4 389.6 413.6 356.4 363.7 374.5 401.9 397.5 376.1 389.3 403.8 389.4 408.4 414.8 410.7 420.5 419.3 423.8
890.4 904.5 858.3 870.1 879.8 879.1
847.4 878.1
883.5 887.7 889.0 891.8 892.9 896.6 899.2 910.3 912.0 915.0 905.8
1,152.3 1,183.8 1,233.7 1,280.2 1,172.2 1,177.1 1,178.0 1,183.4 1,196.8 1,214.5 1,229.5 1,240.9 1,250.0 1,265.9 1,272.8 1,287.0 1,295.2 1,306.7 1,318.5
Durable goods....
Services '
Gross private domestic investment
Fixed investment
Structures .
Producers' durable equipment
Residential
ChanCTe in business inventories
Farm
Net exports of goods and services '
637.0
639.6
674.0
715.8
648.0
676.1
642.3
625.1
615.2
646.3
656.7
671.7
721.1
707.0
713.5
733.6
709.1
721.1
720.7
627.9
453.5
149.5
304.0
174.4
9.1
13.4
-4.3
634.1
438.4
130.1
308.3
195.7
5.6
8.0
-2.4
650.3
455.5
122.3
333.2
194.8
23.7
25.8
-2.1
687.9
493.8
122.2
371.6
194.1
27.9
30.7
-2.8
640.4
460.9
149.9
311.1
179.4
7.7
23.2
-15.5
634.2
448.5
144.0
304.5
185.7
41.9
37.4
4.5
635.2
438.7
128.9
309.8
196.5
7.1
10.5
-3.4
631.0
430.9
124.0
306.8
200.1
-5.9
-5.1
-.8
636.0
435.7
123.4
312.3
200.3
-20.8
-10.9
-9.9
628.2
430.9
120.1
310.7
197.3
18.1
20.3
-2.2
643.4
445.6
117.7
327.9
197.8
13.3
14.5
-1.2
664.9
472.8
125.5
347.3
192.1
6.8
12.9
-6.1
664.6
472.7
125.7
347.0
191.9
56.6
55.6
1.0
672.7
483.6
121.8
361.8
189.1
34.3
28.3
5.9
692.0
497.8
122.5
375.3
194.2
21.5
25.4
-4.0
696.1
501.0
123.0
378.0
195.1
37.5
37.2
.3
690.8
492.7
121.4
371.3
198.1
18.3
31.9
-13.6
696.6
501.0
121.1
379.9
195.6
24.5
16.9
7.6
698.8
510.2
118.0
392.2
188.6
22.0
19.6
2.4
-74.9 -125.3 -110.0 -131.2 -142.3 -135.4 -118.2 -115.9 -118.9 -109.8
15
-104.3 -129.7 -115.7
Government purchases of goods and services
<
-78.2
-72.6
-74.9
-73.8
-55.0
-52.6
16
17
Exports '
Imports '
Federal
National defense
Nondefense
State and local
6
7
8
9
10
11
12
13
14
367.2
471.4
397.1
526.9
450.9
566.6
530.1
605.0
367.4
492.6
392.9
502.9
389.6
520.7
399.6
541.9
406.5
541.9
418.7
536.9
439.5
555.4
461.3
580.2
484.1
593.9
517.4
595.6
519.7
592.3
531.9
606.9
551.4
625.2
569.7
624.6
585.1
637.7
18
731.2
761.6
781.8
785.1
752.7
744.1
761.2
765.2
776.0
776.6
774.9
783.5
792.1
775.1
783.0
775.9
806.4
799.7
807.6
19
20
21
22
326.0
237.2
88.8
405.2
334.1
252.1
82.0
427.5
339.6
265.2
74.4
442.1
328.9
261.5
67.4
456.2
340.6
241.4
99.2
412.1
324.4
241.2
83.3
419.6
335.4
251.4
84.1
425.7
334.2
260.0
74.2
430.9
342.4
255.8
86.6
433.6
338.1
259.0
79.1
438.5
334.7
264.6
70.1
440.1
340.7
270.6
70.1
442.8
344.9
266.7
78.2
447.2
323.8
263.0
60.8
451.3
327.9
262.5
65.4
455.1
319.8
258.8
61.0
456.1
343.9
261.6
82.3
462.5
335.5
254.4
81.1
464.2
341.3
256.1
85.1
466.3
1. See the box on page 21 of the July 1989 SURVEY OF CURRENT BUSINESS.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
SURVEY OF CURRENT BUSINESS
July 1989
41
Table 1.3.—Gross National Product by Major Type of Product
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1985
1986
IV
I
II
IV
I
II
1989
1988
1987
III
III
IV
I
III
II
IV
I
II
1
.
Goods
Final sales
Change in business inventories
Durable goods
..
Final sales
,
Change in business inventories
..
4,014.9 4,231.6 4,524.3 4,880.6 4,107.9 4,181.3 4,194.7 4,253.3 4,297.3 4,388.8 4,475.9 4566.6 4,665.8 4,739.8 4,838.5 4,926.9 5,017.3 5,113.1 5,194.9
4,003.6 4,224.8 4,495.0 4,850.0 4,100.7 4,140.6 4,189.3 4,259.8 4,309.4 4,363.4 4,457.1 4,557.1 4,602.5 4,709.8 4,809.2 4,882.3 4,998.7 5,085.4 5,162.4
32.4
27.7
7.2
5.4
-6.4 -12.2
25.4
30.0
29.3
44.6
18.7
30.6
40.7
18.8
9.5
63.3
6.9
29.3
11.3
1,641.2 1,686.7 1,785.2 1,931.9 1,657.4 1,689.0 1,673.6 1,689.7 1,694.5 1,727.9 1,761.1 1,799.8 1,851.8 1,867.0 1,917.4 1,955.8 1,987.4 2,030.9 2,074.3
5
6
.
2
3
4
Gross national product
Final sales
Change in business inventories
1,629.9 1,679.8 1,755.9 1,901.3 1,650.2 1,648.3 1,668.2 1,696.1 1,706.6 1,702.5 1,742.3 1,790.3 1,788.4 1,837.0 1,888.1 1,911.2 1,968.7 2,003.2 2,041.9
32.4
27.7
7.2
5.4
-6.4 -12.2
25.4
30.0
29.3
18.7
30.6
40.7
18.8
9.5
63.3
44.6
11.3
6.9
29.3
10
11
12
Nondurable goods
Final sales
Change in business inventories
824.9
815.2
9.7
857.2
840.2
17.0
894.7
872.8
22.0
909.1
896.6
12.5
706.6
700.1
6.5
7
8
. . .. 9
Services
13
Structures
14
721.8
720.6
1.2
859.1
834.1
25.0
706.5
697.9
8.6
717.5
693.4
24.2
712.6
712.5
.1
735.7
745.5
-9.8
731.1
740.7
-9.6
738.1
717.4
20.7
765.8
747.3
18.4
934.6
929.8
4.9
964.9 1,010.9 1,072.8
959.2 1,003.7 1,067.2
7.2
5.6
5.7
950.9
952.3
-1.4
971.5
954.9
16.5
961.0
955.7
5.3
954.0
950.6
3.4
963.3
965.9
-2.6
989.9
985.1
4.8
995.3 1,006.2 1,039.1 1,042.1 1,060.2 1,071.8 1,098.9 1,136.2 1,165.2
995.0 1,001.5 1,020.0 1,021.7 1,047.9 1,068.6 1,112.2 1,130.5 1,145.3
20.0
5.7
20.3
12.3
3.2 -13.3
.3
4.7
19.1
774.3
752.2
22.1
793.6
788.8
4.8
812.7
768.4
44.3
884.0
842.6
41.4
888.5
856.5
32.0
1,968.3 2,119.3 2,304.5 2,499.2 2,035.7 2,070.5 2,096.9 2,135.7 2,174.2 2,233.7 2,284.3 2,328.7 2,371.4 2,434.2 2,472.3 2,520.3 2,570.0 2,620.8 2,665.1
405.4
425.6
434.6
449.5
414.8
421.7
424.2
427.9
428.6
427.2
430.5
438.1
442.6
438.6
448.8
450.8
459.9
III
IV
461.3
455.4
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.4.—Gross National Product by Major Type of Product in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1985
1986
I
IV
II
1988
1987
III
IV
I
II
III
I
IV
II
1989
I
II
1
Change in business inventories
3,618.7 3,717.9 3,853.7 4,024.4 3,662.4 3,721.1 3,704.6 3,712.4 3,733.6 3,783.0 3,823.5 3,872.8 3,935.6 3,974.8 4,010.7 4,042.7 4,069.4 4,106.8 4,123.9
2
3
Gross national product
3,609.6 3,712.4 3,830.0 3,996.5 3,654.7 3,679.2 3,697.6 3,718.3 3,754.4 3,764.9 3,810.1 3,866.0 3,879.0 3,940.5 3,989.2 4,005.2 4,051.0 4,082.3 4,101.9
9.1
7.7
41.9
7.1
-5.9 -20.8
21.5
22.0
23.7
27.9
18.1
6.8
56.6
34.3
24.5
5.6
13.3
37.5
18.3
4
1,553.6 1,592.6 1,669.0 1,771.6 1,564.7 1,605.2 1,587.5 1,582.1 1,595.7 1,622.6 1,645.9 1,679.1 1,728.5 1,746.7 1,767.9 1,782.3 1,789.4 1,823.2 1,837.1
Final sales
Change in business inventories
5
6
1,544.5 1,587.1 1,645.3 1,743.7 1,557.0 1,563.3 1,580.4 1,588.0 1,616.5 1,604.4 1,632.6 1,672.3 1,671.9 1,712.4 1,746.5 1,744.8 1,771.0 1,798 7 1,815.1
9.1
7.1
5.6
27.9
7.7
41.9
-5.9 -20.8
18.1
56.6
34.3
21.5
22.0
23.7
13.3
6.8
37.5
18.3
24.5
Durable goods
. .
Final sales
..
Change in business inventories
7
8
9
691.7
686.1
5.6
719.5
718.6
.9
790.2
770.6
19.6
883.6
860.9
22.7
695.0
687.7
7.3
712.0
689.8
22.2
708.5
709.0
-.4
727.7
737.0
-9.3
729.6
738.6
-9.0
741.8
723.9
17.9
776.6
760.3
16.3
810.5
806.1
4.4
831.7
791.9
39.7
850.8
840.9
9.9
882.2
866.8
15.3
900.8
863.4
37.3
900.5
872.4
28.1
902.3
884.2
18.1
915.6
905.2
10.3
Nondurable goods
Final sales
Change in business inventories
10
11
12
861.9
858.4
3.5
873.2
868.5
4.7
878.8
874.7
4.1
888.0
882.8
5.2
869.8
869.4
.4
893.2
873.5
19.7
879.0
871.4
7.5
854.4
851.0
3.4
866.1
877.9
-11.8
880.7
880.5
.2
869.3
872.3
-3.0
868.5
866.2
2.3
896.8
880.0
16.8
895.8
871.5
24.3
885.8
879.7
6.1
881.5
881.4
.1
888.9
898.6
-9.7
920.9
914.5
6.4
921.5
909.9
11.7
Goods
Services
13
Structures
14
1,684.3 1,738.9 1,803.7 1,873.5 1,712.5 1,727.2 1,731.2 1,743.9 1,753.1 1,778.7 1,798.7 1,812.2 1,825.0 1,854.1 1,862.5 1,880.8 1,896.7 1,905.1 1,918.5
380.8
386.4
381.1
379.3
385.2
388.7
385.9
386.4
384.8
381.8
378.9
381.5
382.1
374.0
380.2
379.6
383.3
378.5
368.3
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.5.—Relation of Gross National Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1985
IV
1
Gross national product
Less: Exports of goods and services '
Plus* Imports of ^oods and services '
2
3
2
4
Less: Change in business inventories
5
Equals: Final sales to domestic purchasers 3
6
Equals: Gross domestic purchases
I
n
1987
III
IV
I
II
1988
III
IV
I
II
1989
III
IV
I
II
4,014.9 4,231.6 4,524.3 4,880.6 4,107.9 4,181.3 4,194.7 4,253.3 4,297.3 4,388.8 4,475.9 4,566.6 4,665.8 4,739.8 4,838.5 4,926.9 5,017.3 5,113.1 5,194.9
370.9 396.5 448.6 547.7 369.2 395.5 390.7 397.3 402.4 416.5 437.4 458.0 482.6 521.6 532.5 556.8 579.7 605.6 625.2
448.9 493.8 561.2 621.3 472,4 482.7 483.4 498.0 511.3 522.5 551.8 573.4 597.2 604.3 607.5 623.0 650.5 659.6 677.5
4,092.8 4,329.0 4,636.8 4,954.3 4,211.2 4,268.4 4,287.5 4,354.1 4,406.2 4,494.8 4,590.3 4,681.9 4,780.4 4,822.5 4,913.4 4,993.1 5,088.1 5,167.1 5,247.2
30.6
7.2
5.4
11.3
6.9
29.3
40.7
-6.4 -12.2
25.4
18.8
30.0
9.5
63.3
29.3
44.6
18.7
27.7
32.4
4,081.5 4,322.1 4,607.6 4,923.7 4,203.9 4,227.7 4,282.1 4,360.5 4,418.3 4,469.4 4,571.5 4,672.4 4,717.1 4,792.5 4,884.1 4,948.5 5,069.5 5,139.4 5,214.8
1. See the box on page 21 of the July 1989 SURVEY OF CURRENT BUSINESS.
2. Purchases in the United States of goods and services wherever produced.
3. Final sales in the United States of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
1986
42
SURVEY OF CURRENT BUSINESS
July 1989
Table 1.6.—Relation of Gross National Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1986
1985
I
IV
Gross national product
1
Less: Exports of goods and services '
Plus: Imports of aoods and services '
2
3
2
4
Less: Change in business inventories
5
Equals: Final sales to domestic purchasers 3
6
Equals: Gross domestic purchases
II
1988
1987
III
IV
I
II
III
IV
I
II
1989
III
IV
I
II
3,618.7 3,717.9 3,853.7 4,024.4 3,662.4 3,721.1 3,704.6 3,712.4 3,733.6 3,783.0 3,823.5 3,872.8 3,935.6 3,974.8 4,010.7 4,042.7 4,069.4 4,106.8 4,123.9
367.2
41 1 A
397.1
526.9
450.9
566.6
530.1
605.0
367.4
492.6
392.9
502.9
389.6
520.7
399.6
541.9
406.5
541.9
418.7
536.9
439.5
555.4
461.3
580.2
484.1
593.9
517.4
595.6
519.7
592.3
531.9
606.9
551.4
625.2
569.7
624.6
585.1
637.7
3,723.0 3,847.6 3,969.4 4,099.3 3,787.6 3,831.0 3,835.8 3,854.7 3,869.0 3,901.2 3,939.3 3,991.7 4,045.5 4,052.9 4,083.3 4,117.6 4,143.2 4,161.8 4,176.5
9.1
5.6
23.7
27.9
41.9
7.7
7.1
-5.9
-20.8
18.1
13.3
6.8
56.6
34.3
21.5
37.5
18.3
24.5
22.0
3,713.9 3,842.1 3,945.8 4,071.4 3,779.9 3,789.1 3,828.7 3,860.6 3,889.8 3,883.1 3,926.0 3,984.9 3,988.9 4,018.7 4,061.8 4,080.1 4,124.9 4,137.3 4,154.6
1. See the box on page 21 of the July 1989 SURVEY OF CURRENT BUSINESS.
2. Purchases in the United States of goods and services wherever produced.
3. Final sales in the United States of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.7.—Gross National Product by Sector
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1986
1985
I
IV
Gross national product
IV
I
II
III
IV
I
1989
in
II
IV
I
II
1
Farm
Statistical discrepancy
4,014.9 4,231.6 4,524.3 4,880.6 4,107.9 4,181.3 4,194.7 4,253.3 4,297.3 4,388.8 4,475.9 4,566.6 4,665.8 4,739.8 4,838.5 4,926.9 5,017.3 5,113.1 5,194.9
3,974.1 4,197.2 4,493.8 4,847.3 4,065.9 4,140.9 4,162.4 4,217.7 4,267.9 4,356.9 4,446.9 4,537.0 4,634.3 4,703.3 4,808.4 4,894.7 4,982.9 5,078.5 5,159.3
3
4
5
6
7
8
Business
• Nonfarm
Nonfarm less housing
Government
.
Federal
State and local
1988
1987
III
2
.
Gross domestic product
Households and institutions
Private households .
Nonprofit institutions .
II
3,412.8 3,599.9 3,851.5 4,153.5 3,490.7 3,557.4 3,570.1 3,616.6 3,655.6 3,732.6 3,810.8 3,888.7 3,973.9 4,027.0 4,121.2 4,194.7 4,271.1 4,347.2 4,415.3
3,342.2 3,525.9 3,779.5 4,087.1 3,422.4 3,481.0 3,492.5 3,543.1 3,587.1 3,657.4 3,734.8 3,821.8 3,903.8 3,960.6 4,042.5 4,119.6 4,225.5 4,280.0 4,348.9
3,026.9 3,182.8 3,407.6 3,685.6 3,095.6 3,148.3 3,152.8 3,196.7 3,233.3 3,296.9 3,367.5 3,446.6 3,519.5 3,568.8 3,645.3 3,714.7 3,813.5 3,862.7 3,925.4
315.3 343.1 371.8 401.5 326.8 332.6 339.7 346.3 353.8 360.5 367.4 375.1 384.3 391.9 397.2 404.9 412.0 417.2 423.5
75.2
75.4
76.2
74.1
75.6
78.2
76.8
76.1
78.1
77.5
77.6
79.5
78.8
75.8
73.9
83.7
62.3
91.3
90.5
-2.1
-7.4
-9.6
-7.9
2.3
2.3
-9.6
1.2
-10.5
-13.1
-.1
-24.1
-24.1
-4.8
-1.8
-4.7
-2.3
-8.6
-16.6
9
10
11
142.3
9.0
133.3
153.5
9.1
144.5
169.3
9.2
160.1
188.0
9.4
178.7
146.6
9.0
137.6
149.3
9.0
140.3
152.0
9.1
143.0
154.9
9.1
145.8
157.9
9.2
148.7
161.4
9.2
152.3
166.5
9.2
157.3
172.3
9.2
163.1
177.1
9.2
167.9
180.7
9.3
171.4
185.1
9.3
175.8
190.8
9.4
181.4
195.5
9.5
186.0
201.2
9.5
191.7
207.1
9.6
197.5
. . . . . 12
13
14
419.0
140.2
278.8
443.8
143.5
300.3
473.0
150.9
322.1
505.8
159.3
346.5
428.6
142.4
286.2
434.2
142.7
291.5
440.3
143.2
297.1
446.2
143.6
302.6
454.4
144.6
309.8
462.9
148.9
314.0
469.7
150.5
319.2
475.9
151.2
324.7
483.3
152.8
330.5
495.5
158.0
337.5
502.1
158.7
343.5
509.2
159.8
349.4
516.3
160.8
355.5
530.1
168.3
361.8
536.9
169.1
367.8
15
40.7
34.4
30.5
33.3
42.0
40.3
32.3
35.7
29.4
31.9
28.9
29.6
31.5
36.5
30.0
32.3
34.5
34.5
35.5
III
IV
I
. ..
...
Rest of the world
Addendum:
Gross domestic business product less housing
16
3,088.9 3,248.9 3,472.2 3,744.3
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.8.—Gross National Product by Sector in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1985
1986
IV
Gross national product
1
2
Gross domestic product
I
II
1987
III
IV
I
II
1988
III
IV
I
II
1989
3,618.7 3,717.9 3,853.7 4,024.4 3,662.4 3,721.1 3,704.6 3,712.4 3,733.6 3,783.0 3,823.5 3,872.8 3,935.6 3,974.8 4,010.7 4,042.7
3,581.9 3,687.4 3,827.2 3,996.3 3,624.7 3,685.0 3,675.8 3,681.0 3,707.7 3,755.0 3,798.2 3,847.0 3,908.3 3,943.5 3,985.1 4,015.6
3,103.3 3,198.2 3,328.9 3,482.9 3,141.7 3,199.7 3,187.4 3,190.7 3,215.1 3,261.6 3,301.9 3,346.8 3,405.0 3,436.0 3,474.1 3,499.7
3,028.1 3,115.7 3,249.6 3,418.2 3,066.2 3,114.0 3,102.6 3,108.9 3,137.2 3,176.5 3,222.7 3,273.0 3,326.1 3,364.2 3,398.8 3,435.5
2,762.5 2,843.3 2,967,8 3,127.9 2,797.5 2,844.1 2,831.5 2,835.9 2,861.7 2,898.3 2,942.0 2,989.8 3,040.8 3,076.3 3,109.2 3,144.3
290.3 268.8 269.9 271.1 273.0 275.5 278.1 280.7 283.2 285.2 287.8 289.6 291.2
265.6 272.4 281.8
79.4
83.4
72.7
84.1
83.6
82.7
83.6
86.4
82.5
81.1
84.1
85.3
83.0
82.9
75.3
71.4
2.1
-4.1
-8.0
-7.1
2.0
-4.3
-1.6
-1.9
-6.4
-8.5
1.1
-2.0
-9.1
-11.2
0
-7.2
II
4,069.4 4,106.8 4,123.9
4,040.8 4,078.5 4,095.1
Business
Nonfarm
Nonfarm less housing
Housing
Farm
Statistical discrepancy
3
4
5
6
7
8
Households and institutions
Private households
Nonprofit institutions
9
10
11
121.3
8.8
112.4
125.7
8.8
116.9
128.6
8.8
119.9
137.3
8.8
128.4
123.2
8.8
114.4
124.3
8.7
115.6
126.0
8.8
117.2
126.1
8.8
117.3
126.3
8.8
117.5
126.4
8.8
117.6
127.5
8.8
118.7
129.7
8.8
120.9
131.1
8.8
122.3
133.5
8.8
124.7
136.0
8.8
127.2
139.0
8.9
130.2
140.5
8.9
131.6
142.7
8.9
133.8
145.2
8.9
136.3
12
13
14
357.4
122.3
235.0
363.5
122.6
240.8
369.6
123.6
246.0
376.1
125.2
250.9
359.9
122.5
237.4
360.9
122.3
238.6
362.4
122.4
240.0
364.3
122.6
241.6
366.3
123.2
243.1
367.0
122.9
244.1
368.8
123.3
245.5
370.5
123.9
246.6
372.2
124.4
247.9
374.0
124.9
249.1
375.0
124.7
250.3
376.8
125.3
251.5
378.6
126.0
252.7
380.1
126.4
253.7
381.2
126.5
254.7
15
36.9
30.5
26.6
28.1
37.6
36.1
28.8
31.3
25.9
28.0
25.3
25.8
27.3
31.3
25.6
27.1
28.5
28.3
28.8
Government
.
Federal
State and local
......
Rest of the world
Addendum:
Gross domestic business product less housing
16
2,828.4 2,916.7 3,038.0 3,183.7
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
3,521.7 3,555.7 3,568.7
3,474.2 3,494.5 3,510.0
3,181.7 3,200.8 3,214.5
292.5 293.8 295.5
61.2
80.8
78.2
-13.7
-19.7
-19.5
July 1989
SURVEY OF CURRENT BUSINESS
43
Table 1.9.—Relation of Gross National Product, Net National Product, National Income, and Personal Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1986
1985
I
IV
1988
1987
III
II
IV
II
I
III
I
IV
1989
III
II
IV
I
II
4,014.9 4,231.6 4,524.3 4,880.6 4,107.9 4,181.3 4,194.7 4,253.3 4,297.3 4,388.8 4,475.9 4,566.6 4,665.8 4,739.8 4,838.5 4,926.9 5,017.3 5,113.1 5,194.9
Gross national product
1
Less: Capital consumption allowances with capital
consumption adjustment.
Capital consumption allowances without
capital consumption adjustment.
Less: Capital consumption adjustment
2
437.2
460.1
486.7
513.6
446.9
449.4
456.8
463.4
470.8
476.9
483.5
490.6
495.8
504.7
510.2
515.2
524.1
533.0
541.6
3
468.2
491.5
507.1
526.4
482.5
486.3
490.0
493.2
496.4
500.0
504.3
509.3
514.8
520.3
525.2
528.9
531.3
532.7
533.6
4
31.0
31.4
20.4
12.8
35.6
36.9
33.2
29.8
25.6
23.1
20.8
18.7
18.9
15.6
15.0
13.6
7.1
-.3
-8.0
Equals' Net national product
.. . . 5
3,577.6 3,771.5 4,037.6 4,367.1 3,661.0 3,731.8 3,738.0 3,789.9 3,826.5 3,911.9 3,992.4 4,076.0 4,170.0 4,235.1 4,328.2 4,411.7 4,493.2 4,580.1 4,653.2
Less: Indirect business tax and nontax liability
Business transfer payments
Statistical discrepancy
6
7
8
333.6
22.0
-4.8
348.9
24.6
-1.8
367.8
26.7
-4.7
393.5
29.0
-9.6
338.3
23.0
-7.9
347.4
23.9
2.3
341.9
24.3
2.3
353.4
24.9
-2.1
353.1
25.5
-9.6
357.9
26.3
1.2
364.5
26.6
-2.3
372.1
26.8
-10.5
376.6
27.1
-7.4
384.3
28.0
-13.1
390.1
28.7
-.1
397.0
29.4
-8.6
402.7
30.1
-16.6
407.7
30.8
-24.1
413.3
31.5
Plus: Subsidies less current surplus of government
enterprises.
9
7.2
12.8
17.6
18.5
5.3
5.1
25.1
5.5
15.6
24.1
12.8
7.2
26.2
17.6
24.0
11.8
20.4
19.5
15.3
Equals! National income
10
Less: Corporate profits with inventory valuation
and capital consumption adjustments.
Net interest ..
Contributions for social insurance
Wage accruals less disbursements
11
282.3
282.1
298.7
328.6
291.4
292.7
280.9
279.7
275.2
279.9
293.7
313.0
308.2
318.1
325.3
330.9
340.2
316.3
12
13
14
319.0
354.1
-.2
325.5
379.2
0
351.7
400.8
0
392.9
444.6
0
322.7
362.1
0
327.9
372.5
0
325.4
376.0
0
324.9
380.5
0
324.0
387.7
0
334.2
392.8
0
347.2
396.8
0
355.3
402.6
.2
370.0
411.0
-.2
376.6
434.0
0
383.0
441.1
0
396.4
448.2
0
415.7
455.2
0
436.1
469.7
0
458.0
476.1
0
Plus: Government transfer payments to persons
15
Personal interest income
16
Personal dividend income
,.. 17
Business transfer payments
18
467.8
478.0
78.7
22.0
496.8
493.2
85.8
24.6
521.5
523.2
92.0
26.7
555.7
571.1
102.2
29.0
474.5
485.9
79.0
23.0
486.4
493.4
83.0
23.9
493.4
494.4
85.6
24.3
501.8
492.4
86.9
24.9
505.7
492.7
87.7
25.5
512.7
502.1
88.8
26.3
521.0
516.2
90.3
26.6
524.0
527.9
93.2
26.8
528.3
546.5
95.7
27.1
547.8
549.6
98.2
28.0
553.2
560.0
100.4
28.7
558.0
576.3
103.6
29.4
563.7
598.6
106.4
30.1
585.6
629.0
109.4
30.8
594.7
655.1
111.4
31.5
Equals: Personal income
:
19
3,234.0 3,412.6 3,665.4 3,972.6 3,312.8 3,363.4 3,394.5 3,419.3 3,473.1 3,550.5 3,616.4 3,694.8 3,799.9 3,853.6 3,933.6 4,005.7 4,097.4 4,185.2
3,325.3 3,526.2 3,777.6 4,064.5 3,399.1 3,457.0 3,509.9 3,540.2 3,597.8 3,673.6 3,732.7 3,795.5 3,908.7 3,948.5 4,026.6 4,097.6 4,185.2 4,317.8 4,396.2
Table 1.10.—Relation of Gross National Product, Net National Product, and National Income in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
I
IV
Gross national product
1
Less: Capital consumption allowances with capital
consumption adjustment.
2
Equals* Net national product
3
Less: Indirect business tax and nontax liability
plus business transfer payments less subsidies
plus current surplus of government enterprises.
4
Statistical discrepancy
Equals: National income
5
. ..
6
1986
1985
1988
1987
m
II
IV
I
II
III
I
IV
1989
m
II
IV
I
II
3,618.7 3,717.9 3,853.7 4,024.4 3,662.4 3,721.1 3,704.6 3,712.4 3,733.6 3,783.0 3,823.5 3,872.8 3,935.6 3,974.8 4,010.7 4,042.7 4,069.4 4,106.8 4,123.9
426.7
443.4
460.8
480.2
435.3
436.8
441.3
445.7
450.0
454.2
458.6
463.0
467.6
472.4
477.5
482.7
488.1
493.5
498.9
3,192.0 3,274.5 3,392.9 3,544.2 3,227.0 3,284.3 3,263.3 3,266.7 3,283.6 3,328.8 3,364.9 3,409.8 3,468.0 3,502.3 3,533.2 3,559.9 3,581.2 3,613.3 3,625.0
299.4
312.1
317.9
327.8
302.7
307.3
310.4
315.5
315.1
313.7
318.0
320.1
319.9
324.3
326.3
329.2
331.2
331.3
-4.3
-1.6
-4.1
-8.0
-7.1
2.0
2.1
-1.9
-8.5
1.1
-2.0
-9.1
-6.4
-11.2
0
-7.2
13.7
-19.7
330.5
2,896.9 2,964.0 3,079.0 3,224.5 2,931.5 2,975.0 2,950.8 2,953.0 2,977.0 3,014.0 3,048.9 3,098.7 3,154.4 3,189.2 3,206.9 3,237.9 3,263.7 3,301.6
Table 1.11.—Command-Basis Gross National Product in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1985
IV
Gross national product
1
Less* Net exports of goods and services
Exports
Imports ... .
2
3
4
Equals: Gross domestic purchases
5
Plus: Command-basis net exports of goods and
services.
Command-basis exports *
Imports
7
8
6
Equals: Command-basis gross national product .. 9
1986
I
II
1987
HI
IV
I
II
1988
III
IV
I
II
1989
III
IV
I
II
3,618.7 3,717.9 3,853.7 4,024.4 3,662.4 3,721.1 3,704.6 3,712.4 3,733.6 3,783.0 3,823.5 3,872.8 3,935.6 3,974.8 4,010.7 4,042.7 4,069.4 4,106.8 4,123.9
-104.3 -129.7 -115.7 -74.9 -125.3 -110.0 -131.2 -142.3 -135.4 -118.2 -115.9 -118.9 -109.8 -78.2
-72.6
-74.9
-73.8
-55.0
-52.6
367.2 397.1 450.9 530.1 367.4 392.9 389.6 399.6 406.5 418.7 439.5 461.3 484.1 517.4 519.7 531.9 551.4 569.7 585.1
471.4 526.9 566.6 605.0 492.6 502.9 520.7 541.9 541.9 536.9 555.4 580.2 593.9 595.6 592.3 606.9 625.2 624.6 637.7
3,723.0 3,847.6 3,969.4 4,099.3 3,787.6 3,831.0 3,835.8 3,854.7 3,869.0 3,901.2 3,939.3 3,991.7 4,045.5 4,052.9 4,083.3 4,117.6 4,143.2 4,161.8 4,176.5
-81.9 -103.9 -113.6 -71.7 -107.7 -90.8
-99.9 -109.6 -115.4 -108.9 -115.1 -116.7 -113.9 -81.6
-73.1
-68.0
-64.5
-51.1
-49.3
389.5
471.4
423.0
526.9
452.9
566.6
533.3
605.0
385.0
492.6
412.1
502.9
420.8
520.7
432.3
541.9
426.5
541.9
428.0
536.9
440.2
555.4
463.5
580.2
479.9
593.9
514.0
595.6
519.3
592.3
542.4
606.9
557.2
625.2
573.5
624.6
588.4
637.7
3,641.1 3,743.7 3,855.8 4,027.5 3,680.0 3,740.3 3,735.9 3,745.0 3,753.5 3,792.3 3,824.2 3,875.0 3,931.5 3,971.4 4,010.2 4,053.1 4,075.2 4,110.7 4,127.3
Addendum:
Terms of trade 2
10
106.1
106.5
100.5
100.6
104.8
104.9
108.1
108.2
104.9
102.3
100.1
100.5
99.1
99.3
99.9
101.9
101.1
100.7
100.7
1. Exports of goods and services deflated by the implicit price deflator for imports of goods and services.
2. Ratio of the implicit price deflator for exports of goods and services to the implicit price deflator for imports of goods and services with the decimal point shifted two places to the right.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
44
SURVEY OF CURRENT BUSINESS
July 1989
Table 1.13.-—Net National Product and National Income by Sector in Constant
Dollars
Table 1.12.—Net National Product and National Income by Sector
[Billions of dollars]
[Billions of 1982 dollars]
Line
Net national product
Net domestic product
Business . .
Nonfarm
Nonfarm less housing
Housing
Statistical discrepancy
Households and institutions
Government
Rest of the world
National income
Domestic income
Business
Nonfarm
Nonfarm less housing
Housing
Farm
Households and institutions
Government
Rest of the world
1985
1986
1987
Line
1988
1
3,577.6
3,771.5
4,037.6
4,367 1
2
3
3,536.9
3,737.1 4,007.1
4,333 7
2,975.6
3,139 8
33648
36399
4
5
6
7
8
9
10
11
29270
27045
2225
30873
28407
2466
35938
33030
2908
534
-48
543
33137
30460
2677
55 8
-1 8
-47
558
-96
1423
4190
153 5
443 8
1693
4730
188 0
5058
407
344
305
333
12
32340
34126
36654
13
3,193.2
3,378 2
36349
39726
39393
14
26319
27808
29926
32455
15
16
17
18
25753
24067
1686
2926 1
27193
2068
66 6
3 181 0
2956 1
2249
566
27200
2531 3
1887
60 8
19
20
1423
4190
1535
4438
1693
4730
1880
5058
21
40.7
34.4
30.5
33.3
645
1987
1988
1
..
..
Government
Rest of the world
National income
3,274.5
3,392.9
3,544.2
3,155.2
3,244.0
3,366.3
3,516.1
2,676.6
2,754.8
2,868.0
3,002.7
4
5
6
7
8
2,621.5
2441.8
179.7
59.4
-4.3
2,691.2
2,506.1
185.1
65.1
-16
2,806.7
2,615.1
191.7
65.4
-4.1
2,955.1
2,757.8
197.3
55.6
-8.0
121.3
357.4
125.7
363.5
128.6
369.6
137.3
376.1
36.9
30.5
26.6
28.1
12
.
3,192.0
9
10
11
Business
Housing
o
Farm
1986
2
3
Net national product
Net domestic product
Nonfarm
1985
2,896.9
2,964.0
3,079.0
3,224.5
13
Nonfarm
Nonfarm less housing
Housing
Farm
Households and institutions
Government
Rest of the world
2,933.4
3,052.5
3,196.3
2,381.4
2/M'1.3
2,554.2
2,683.0
15
. .
2,860.0
14
Domestic income
18
2,322.9
2,190.8
132.1
58.5
2,380.4
2,244.0
136.4
63.9
2,489.9
2,348.7
141.2
64.3
2,628.2
2,482.9
145.3
54.7
19
20
121.3
357.4
125.7
363.5
128.6
369.6
137.3
376.1
21
36.9
30.5
26.6
28.1
16
17
45
SURVEY OF CURRENT BUSINESS
July 1989
Table 1.14.—National Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1986
1987
1988
1985
1987
1986
1988
1989
3,234.0 3,412.6 3,665.4 3,972.6 3,312.8 3,363.4 3,394.5 3,419.3 3,473.1 3,550.5 3,616.4 3,694.8 3,799.9 3,853.6 3,933.6 4,005.7 4,097.4 4,185.2
National income
Compensation of employees
1985
2,367.5 2,511.4 2,690.0 2,907.6 2,426.7 2,463.8 2,487.2 2,523.3 2,571.2 2,615.0 2,656.6 2,709.8 2,778.7 2,819.4 2,878.9 2,935.1 2,997.2 3,061.7 3,115.7
,
1,975.2 2,094.8 2,249.4 2,429.0 2,027.4 2,056.9 2,074.8 2,104.3 2,143.1 2,184.4 2,220.6 2,266.6 2,325.9 2,353.4 2,405.4 2,452.2 2,505.1 2,560.7 2,606.6
371.8 393.7 419.2 446.5 380.3 385.5 391.0 396.5 401.9 410.2 415.7 422.2 428.8 437.0 443.1 449.6 456.3 466.9 473.5
1,603.4 1,701.1 1,830.1 1,982.5 1,647.1 1,671.4 1,683.9 1,707.9 1,741.3 1,774.1 1,804.9 1,844.4 1,897.1 1,916.4 1,962.3 2,002.6 2,048.9 2,093.8 2,133.1
Wages and salaries
Government and government enterprises
Other
392.4
204.8
187.6
Farm
Proprietors' income with inventory valuation
adjustment.
Capital consumption adjustment
Nonfarm
Proprietors' income
Inventory valuation adjustment
Capital consumption adjustment
440.7
227.8
212.8
478.6
249.7
228.9
282.0
311.6
34.7
43.1
41.6
49.6
39.8
47.3
399.3
209.5
189.7
452.8
233.9
218.8
466.0
243.7
222.3
473.5
247.7
225.9
482.9
251.8
231.1
492.0
255.6
236.5
501.0
259.7
241.3
509.2
263.2
29.2
37.8
33.6
41.7
48.4
56.3
44.0
51.9
45.4
53.0
37.7
45.0
32.0
39.2
59.0
66.2
52.6
59.8
280.3
251.5
-1.7
30.5
279.9
250.9
-1.3
30.3
286.5
257.8
-1.8
30.5
289.3
260.4
-1.6
30.5
296.3
267.8
-1.3
29.8
300.3
274.4
-2.5
28.5
302.6
277.3
-2.0
27.3
406.9
213.2
193.7
412.4
215.2
197.2
419.0
217.8
201.2
428.1
223.1
205.0
430.7
223.0
207.6
436.0
225.5
210.5
443.2
228.9
214.3
269.4
327.8
30.2
38.9
Proprietors' income with inventory valuation
and capital consumption adjustments.
416.6
217.3
199.3
255.9
Supplements to wages and salaries
Employer contributions for social insurance..
Other labor income
289.5
279.7
289.2
306.7
305.8
305.2
26.2
34.9
44.3
52.7
31.2
39.5
37.2
45.3
44.4
52.5
39.8
47.9
Rental income of persons
Capital consumption adjustment
Corporate profits with inventory valuation and
capital consumption adjustments.
Corporate profits with inventory valuation
adjustment.
20
-8.0
-7.5
-8.6
-8.6
-8.4
-8.3
-8.1
-8.1
-8.1
270.0
238.9
-1.0
32.2
288.0
259.2
-1.5
30.3
235.0
201.1
-.3
34.2
243.2
206.7
-.1
36.6
245.2
207.6
-.3
37.9
248.5
210.4
0
38.1
252.0
215.5
-.3
36.8
262.3
227.7
-.1
34.7
266.0
234.6
-1.1
32.5
271.6
241.7
-1.1
30.9
11.6
13.4
15.7
7.8
9.6
11.5
11.7
13.5
14.7
13.0
11.5
54.2
-45.0
,
Rental income of persons with capital
consumption adjustment.
-8.4
247.2
210.0
-.2
37.4
9.2
,
-7.2
-7.9
-8.7
225.6
194.6
-.2
31.2
56.5
-45.0
61.2
-47.9
65.4
-49.8
54.5
-46.7
54.0
-44.3
56.2
-44.7
60.9
-46.2
60.2
-47.2
60.3
63.6
-49.3
282.3
282.1
298.7
328.6
293.7
313.0
308.2
222.6
228.3
247.8
281.8
228.4
255.8
98.7
43.3
110.4
58.5
235.0
99.8
135.2
84.0
51.2
275.2
280.9
233.0
226.0
228.1
226.1
230.5
243.4
261.5
115.9
92.6
23.3
234.1
113.1
121.0
93.6
27.4
246.4
115.0
131.4
95.0
36.4
263.4
124.0
139.4
96.9
42.6
281.0
132.7
148.3
100.0
48.3
-15.9
-20.0
15.6
65.4
-49.8
64.3
65.8
-49.6
66.1
-49.9
330.9
-19.4
8.7
16.1
62.9
-51.1
340.2
268.1
276.4
284.1
298.7
279.7
159.9
105.7
54.2
305.3
138.4
166.9
108.6
58.3
314.4
141.2
173.2
112.2
61.1
318.8
143.2
175.6
115.2
60.4
318.0
144.4
173.6
118.5
55.1
-28.8
-30.4
-20.1
-38.3
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits..
127.8
83.3
44.6
Inventory valuation adjustment
-1.7
6.7
-6.6
16.8
10.9
7.3
-8.0
59.7
53.8
50.9
46.8
63.0
59.7
54.9
51.6
49.1
49.3
50.3
319.0
325.5
351.7
392.9
322.7
327.9
325.4
324.9
324.0
334.2
347.2
185.9
175.8
174.0
190.7
191.5
189.4
176.9
174.7
162.1
164.9
371.2
370.4
378.4
402.0
381.6
379.6
369.6
370.4
362.0
367.4
102.6
84.5
75.3
80.3
107.6
101.4
86.0
68.5
69.9
268.6
285.9
303.1
321.7
274.1
278.2
283.6
288.3
293.5
297.5
301.3
304.9
308.5
314.9
319.0
323.1
329.7
335.2
-1.7
372.9
6.7
363.7
-18.9
397.3
-25.0
427.0
-6.6
388.2
16.8
362.8
10.9
358.7
7.3
363.2
-8.0
-15.9
383.2
-20.0
394.1
-19.4
-20.4
407.0
-20.7
419.0
-28.8
426.2
-30.4
431.1
-20.1
431.6
-38.3
Capital consumption adjustment
Net interest
115.3
91.3
24.0
88.0
24.9
111.2
91.0
20.2
127.3
148.9
61.3
-52.7
52.4
49.9
48.9
46.9
41.5
36.6
31.7
355.3
370.0
376.6
383.0
396.4
415.7
436.1
458.0
180.3
180.9
189.1
187.0
189.7
196.9
171.9
374.2
385.3
386.7
398.3
411.5
388.6
72.9
80.4
81.7
53.4
Addenda:
Corporate profits after tax with inventory
valuation and capital consumption
adjustments.
Net cash flow with inventory valuation and
capital consumption adjustments.
Undistributed profits with inventory
valuation and capital consumption
adjustments.
Capital consumption allowances with
capital consumption adjustment.
Less: Inventory valuation adjustment
,
Equals: Net cash flow
83.4
78.3
340.3
SURVEY OF CURRENT BUSINESS
46
July 1989
Table 1.15.—National Income by Sector, Legal Form of Organization, and Type of Income
[Billions of dollars]
Line
National income
1985
1986
1
3,234.0
3,412.6
3,665.4
3,972.6
2
2,631.9
2,780.8
2,992.6
3,245.5
Corporate business
Compensation of employees
Wages and salaries
Supplements to wages and salaries
Corporate profits with inventory valuation and capital consumption adjustments
Profits before tax
Inventory valuation adjustment
Capital consumption adjustment
Net interest
3
4
5
6
7
8
9
10
11
1,920.9
1,602.6
1,344.0
258.6
251.2
193.1
-1.7
59.7
67.1
2,009.6
1,696.4
1,421.9
274.5
249.0
188.5
6.7
53.8
64.2
2,156.8
1,807.8
1,520.4
287.5
259.6
227.6
-18.9
50.9
89.3
2,354.7
1,951.2
1,640.5
310.7
285.0
263.2
-25.0
46.8
118.6
Sole proprietorships and partnerships
Compensation of employees
Wages and salaries
Supplements to wages and salaries
Proprietors' income with inventory valuation and capital consumption adjustments
Farm
Proprietors' income with inventory valuation adjustment
Capital consumption adjustment
Nonfarm
Proprietors' income
,
Inventory valuation adjustment
Capital consumption adjustment
Net interest
12
13
14
15
16
17
18
19
20
21
22
23
24
459.2
141.8
124.3
17.5
254.1
30.2
38.9
-8.7
223.9
192.0
-.2
32.2
63.3
502.9
152.1
133.3
18.8
280.4
34.7
43.1
-8.4
245.7
207.6
-.2
38.3
70.4
548.2
169.3
148.7
20.6
310.2
41.6
49.6
-8.0
268.6
236.6
-1.0
33.1
68.7
580.4
185.8
163.1
22.7
326.3
39.8
47.3
-7.5
286.5
256.8
-1.5
31.2
68.3
Other private business
Compensation of employees
Wages and salaries
Supplements to wages and salaries
Proprietors' income with inventory valuation and capital consumption adjustments
Proprietors' income with inventory valuation adjustment
Capital consumption adjustment
Rental income of persons with capital consumption adjustment
Rental income of persons
*
Capital consumption adjustment
Net interest
25
26
27
28
29
30
31
32
33
34
35
201.9
12.0
10.4
1.6
1.7
2.6
-.9
9.2
54.2
-45.0
179.0
215.9
13.1
11.3
1.8
1.6
2.5
-.9
11,6
56.5
-45.0
189.6
231.3
14.2
12.4
1.9
1.4
2.3
-.9
13.4
61.2
-47.9
202.3
249.2
15.7
13.6
2.1
1.5
2.4
-.9
15.7
65.4
-49.8
216.3
37
33
39
49.9
49.9
40.9
9.0
52.4
52.4
42.9
9.5
56.4
56.4
45.7
10.7
61.1
61.1
49.0
12.2
Households and institutions
Compensation of employees
Wages and salaries
Supplements to wages and salaries
40
41
42
43
142.3
142.3
124.7
17.6
153.5
153.5
134.5
19.0
169.3
169.3
148.7
20.6
188.0
188.0
165.3
22.7
Government
Compensation of employees
Wages and salaries
Supplements to wages and salaries
44
45
46
47
419.0
419.0
330.9
88.1
443.8
443.8
350.8
93.0
473.0
473.0
373.6
99.4
505.8
505.8
397.5
108.2
Rest of the world
Compensation of employees
Corporate profits
Net interest
48
49
50
51
40.7
0
31.2
9.5
34.4
0
30.5
0
39.1
-8.6
33,3
0
Domestic business
Compensation of employees
Wages and salaries
Supplements to wa^es and salaries
33.1
1.3
43.7
-10.3
47
SURVEY OF CURRENT BUSINESS
July 1989
Table 1.16.—Gross Domestic Product of Corporate Business in Current Dollars and Gross Domestic Product of Nonfinancial Corporate Business in Current and
Constant Dollars
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1986
1985
IV
I
II
1988
1987
III
IV
I
n
III
IV
I
II
1989
III
IV
I
II
Billions of dollars
Gross domestic product of corporate
business.
1
335.2
340.3
3
4
2,152.8 2,255.3 2,416.4 2,633.3 2,201.8 2,236.2 2,233.7 2,262.5 2,288.7 2,331.2 2,383.1 2,452.6 2,498.6 2,546.5 2,608.1 2,659.6 2,718.9 2,743.4
231.9 245.6 259.6 278.6 235.7 246.2 238.9 248.8 248.6 251.4 257.4 263.9 265.7 271.9 275.7 281.9 284.8 288.5
292.9
5
6
7
8
9
1,920.9 2,009.6 2,156.8 2,354.7 1,966.1 1,990.0 1,994.7 2,013.7 2,040.1 2,079.8 2,125.7 2,188.7 2,232.8 2,274.7 2,332.4 2,377.8 2,434.0 2,454.9
1,602.6 1,696.4 1,807.8 1,951.2 1,641.5 1,668.5 1,681.9 1,704.6 1,730.6 1,761.9 1,784.9 1,819.9 1,864.7 1,891.0 1,932.4 1,969.5 2,012.0 2,050.6- 2,085.7
1,344.0 1,421.9 U520.4 1,640.5 1,379.3 1,399.6 1,409.5 1,427.9 1,450.4 1,479.7 1,500.9 1,530.8 1,570.1 1,588.9 1,625.2 1,656.0 1,691.9 1,730.2 1,759.7
258.6 274.5 287.5 310.7 262.2 268.9 272.4 276.7 280.2 282.2 284.0 289.1 294.5 302.1 307.2 313.5 320.0 320.4 326.0
251.2 249.0 259.6 285.0 256.6 256.5 250.7 246.3 242.6 243.6 256.5 274.1 264.2 275.7 284.6 285.9 293.7 269.7
Capital consumption allowances with capital
consumption adjustment
2
Net domestic product
Indirect business tax and nontax liability plus
business transfer payments less subsidies.
Compensation of employees
Wages and salaries
Supplements to wages and salaries
Corporate profits with inventory valuation
and capital consumption adjustments.
Profits before tax
Profits tax liability
Profits after tax .
Dividends
Undistributed profits
Inventory valuation adjustment
Capital consumption adjustment
Net interest
2,421.4 2,541.2 2,719.4 2,955.0 2,475.8 2,514.4 2,517.3 2,550.8 2,582.3 2,628.8 2,684.4 2,757.5 2,807.1 2,861.4 2,927.1 2,982.8 3,048.6 3,078.6
268.6
285.9
303.1
321.7
274.1
278.2
283.6
288.3
293.5
297.5
301.3
304.9
308.5
314.9
319.0
323.1
329.7
10
11
12
13
14
15
16
17
193.1
96.4
96.7
71.1
25.6
-1.7
59.7
67.1
188.5
106.3
82.1
73.7
8.5
6.7
53.8
64.2
227.6
124.7
102.9
82.8
20.1
-18.9
50.9
89.3
263.2
137.9
125.3
84.2
41.1
-25.0
46.8
118.6
200.2
99.8
100.4
71.0
29.4
-6.6
63.0
68.0
180.0
103.3
76.7
71.1
5.6
16.8
59.7
65.0
185.0
103.9
81.1
76.5
4.6
10.9
54.9
62.2
187.4
105.0
82.5
72.0
10.5
7.3
51.6
62.9
201.5
113.1
88.3
75.1
13.2
-8.0
49.1
66.9
210.1
115.0
95.2
80.0
15.1
-15.9
49.3
74.3
226.2
124.0
102.3
80.4
21.9
-20.0
50.3
84.3
242.0
132.7
109.3
82.4
26.9
-19.4
51.5
94.7
232.1
127.3
104.9
88.6
16.3
-20.4
52.4
104.0
246.5
129.0
117.5
75.4
42.1
-20.7
49.9
108.0
264.6
138.4
126.2
78.1
48.2
-28.8
48.9
115.4
269.3
141.2
128.1
95.9
32.3
-30.4
46.9
122.4
272.3
143.2
129.1
87.2
41.9
-20.1
41.5
128.4
271.5
144.4
127.1
102.0
25.0
-38.3
36.6
134.5
Gross domestic product of financial
corporate business.
18
154.4
174.0
198.7
223.7
166.5
172.6
175.4
174.6
173.6
189.2
195.8
201.3
208.7
213.3
221.2
227.9
232.2
235.8
Gross domestic product of nonfinancial
corporate business.
19
Capital consumption allowances with capital
consumption adjustment.
20
Net domestic product
.
Indirect business tax and nontax liability plus
business transfer payments less subsidies.
Domestic income
Compensation of employees
Waaes and salaries
Supplements to wages and salaries
Corporate profits with inventory valuation
and capital consumption adjustments.
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment
Capital consumption adjustment
Net interest
21
22
,. 23
24
25
26
27
28
29
30
31
32
33
34
35
102.8
-21.0
31.7
142.0
2,267.1 2^67.1 2,520.7 2,731.3 2,309.4 2,341.8 2,341.8 2,376.1 2,408.7 2,439.5 2,488.6 2,556.2 2,598.4 2,648.1 2,705.9 2,754.9 2,816.4 2,842.7
308.4
312.8
2,014.5 2,099.7 2,239.0 2,434.2 2,051.9 2,080.7 2,076.2 2,106.8 2,135.2 2,162.5 2,208.4 2,272.9 2,312.2 2,356.4 2,410.9 2,456.8 2,512.8 2,534.4
218.4 230.2 242.3 260.0 221.5 231.3 223.8 233.1 232.7 234.9 240.3 246.3 247.9 253.7 257.3 263.2 265.9 269.3
273.5
252.6
267.4
281.7
297.1
257.4
261.1
265.6
269.4
273.6
211.1
280.3
283.3
286.2
291.7
295.1
298.1
303.6
1,796,1 1,869.5 1,996.6 2,174.2 1,830.4 1,849.4 1,852.5 1,873.7 1,902.5 1,927.5 1,968.1 2,026.6 2,064.4 2,102.8 2,153.6 2,193.6 2,246.9 2,265.0
1,489.8 1,567.1 1,665.1 1,799.1 1,524.0 1,545.1 1,553.4 1,572.1 1,597.9 1,621.1 1,643.1 1,677.4 1,719.0 1,742.8 1,782.1 1,816.8 1,854.6 1,889.3 1,921.7
1,249.4 1,312.8 1,399.2 1,511.2 1,280.3 1,295.7 1,301.2 1,316.1 1,338.2 1,360.3 1,380.5 1,409.7 1,446.0 1,463.0 1,497.5 1,526.2 1,558.1 1,592.5 1,619.8
240.4 254.3 266.0 287.9 243.7 249.4 252.2 256.0 259.6 260.8 262.5 267.6 273.0 279.8 284.7 290.6 296.5 296.7 301.9
225.3 214.0 224.6 249.3 226.3 220.2 212.5 211.7 211.7 209.6 221.3 238.8 228.6 241.9 248.7 248.3 258.2 235.3
170.2
69.9
100.4
72.2
28.2
-1.7
56,7
81.1
156,4
75.4
81.0
74.4
6.6
6.7
50.9
88.4
197.2
93.1
104.1
81.4
22.7
-18.9
46.3
106.9
233.4
105.4
128.0
83.0
45.0
-25.0
40.9
125.8
174.2
71.6
102.6
72.3
30.3
-6.6
58.7
80.1
147.8
71.8
76.0
72.3
3.7
16.8
55.7
84.1
149.8
71.3
78.5
77.1
1.4
10.9
51.8
86.6
155.3
74.3
81.0
73.2
7.8
7.3
49.1
90.0
172.9
84.4
88.5
75.2
13.3
-8.0
46.8
93.0
179.4
83.5
95.8
79.1
16.7
-15.9
46.1
96.8
195.1
92.1
103.0
79.3
23.7
-20.0
46.1
103.7
211.8
101.1
110.7
8LO
29.7
-19.4
46.4
110.5
202.3
95.6
106.7
86.2
20.5
-20.4
46.7
116.8
218.7
98.2
120.5
75.8
44.7
-20.7
43.9
118.0
234.9
106.6
128.3
77.4
50.9
-28.8
42.7
122.7
237.7
107.4
130.3
92.6
37.7
-30.4
41.0
128.5
242.2
109.4
132.8
86.4
46.5
-20.1
36.1
134.0
242.2
110.6
131.6
98.3
33.3
-38.3
31.5
140.4
98.8
-21.0
26.7
148.2
Billions of 1982 dollars
Gross domestic product of nonfinancial
corporate business.
Capital consumption allowances with capital
consumption adjustment.
Net domestic product
Indirect business tax and nontax liability plus
business transfer payments less subsidies.
Domestic income
36
37
2,117.4 2,173.9 2,282.6 2,419.5 2,137.7 2,171.4 2,160.9 2,164.9 2,198.5 2,218.6 2,259.2 2,309.2 2,343.3 2,381.8 2,408.9 2,434.1 2,453.2 2,459.1
249.7
260.4
269.7
279.3
254.1
256.7
259.3
261.7
264.0
266.3
268.5
270.8
273.1
275.5
278.0
280.6
283.2
285.9
288.8
38
39
1,867.6 1,913.5 2,012.9 2,140.2 1,883.7 1,914.8 1,901.6 1,903.2 1,934.5 1,952.3 1,990.7 2,038.5 2,070.2 2,106.3 2,130.9 2,153.6 2,170.0 2,173.2
190.8 199.3 202.5 209.2 192.8 195.5 198.3 202.1 201.5 199.5 202.5 204.3 203.6 206.6 208.2 210.1 211.9 211.3 ""216.9
40
1,676.8 1,714.2 1,810.4 1,931.0 1,690.8 1,719.3 1,703.3 1,701.1 1,733.0 1,752.8 1,788.2 1,834.1 1,866.6 1,899.8 1,922.7 1,943.5 1,958.1 1,961.9
Table 1.17.—Auto Output
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1988
1987
1985
1986
IV
I
III
IV
I
II
III
IV
119.3
115.7
117.8
109.8
129.3
93.1
36.2
19.1
44.7
-25.6
^0.3
7.6
47.9
1.6
126.6
145.8
104.9
40.9
20.7
48.7
-28.0
-41.4
6.4
47.8
1.5
5.9 -8.8
3.7 -10.3
2.2
1.5
1
Change in business inventories of new and used autos
New
Used
120.6
119.2
129.9
115.5
115.4
119.6
124.7
122.5
111.8
122.5
87.4
35.1
17.9
44.0
-26.1
-30.0
6.1
36.1
1.4
119.0
136.2
100.3
35.8
20.5
46.1
-25.6
-39.0
6.3
45.3
1.4
111.6
131.7
93.5
38.2
19.1
45.0
-25.9
-40.7
7.2
47.9
1.5
128.8
144.2
101.2
43.0
21.4
51.3
-29.9
-38.4
8.7
47.1
1.6
101.8
117.4
81.7
35.7
16.8
40.5
-23.7
-33.7
6.2
39.9
1.4
111.7
125.4
89.3
36.1
19.0
43.5
-24.5
-34.3
6.5
40.9
1.6
114.3
130.2
95.5
34.7
20.2
46.5
-26.3
-37.3
6.4
43.7
1.2
130.3
149.1
113.8
35.3
22.3
50.0
-27.8
-42.3
6.1
48.5
1.3
99.1
119.8
140.0 119.5
102.8
85.5
37.2
34.0
18.2
20.5
44.4 41.5
-23.9 -23.3
-42.2 -40.0
6.0
6.5
48.2 46.5
1.4
1.5
4.7
4.0
.7
1.5
1.4
.2
7.6
6.8
.8
1.1
.5
.6
13.7
16.0
-2.3
3.7
5.7
-2.0
5.3
3.9
1.3
-5.6
-9.3
3.8
2.7
5.2
-2.5
20.2
20.1
.1
16
17
.
116.5
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Auto output
Final sales
..
.
.
Personal consumption expenditures
New autos
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
Net exports of goods and services
Exports
Imports
Government purchases of goods and services
1988
1987
II
95.9
45.7
98.1
55.4
95.3
55.1
101.6
60.8
95.5
47.8
96.4
49.2
97.0
52.9
101.3
58.7
97.7
60.7
99.4
49.6
1989
I
II
III
IV
I
II
124.0
118.6
132.5
136.6
132.0
134.5
135.6
110.8
132.0
90.5
41.5
18.5
45.2
-26.8
-41.2
8.3
49.5
1.5
127.5
143.6
102.2
41.4
22.0
49.3
-27.4
-39.9
8.0
48.0
1.8
132.3
145.7
101.2
44.5
22.3
51.2
-28.9
-37.1
7.9
45.0
1.5
125.3
140.9
98.8
42.1
20.2
52.5
-32.3
-37.1
9.5
46.7
1.4
130.1
146.6
102.4
44.2
21.2
52.3
-31.1
-39.3
9.2
48.5
1.5
123.9
142.7
99.8
42.9
19.0
47.7
-28.7
-39.5
9.7
49.2
1.7
135.3
144.9
100.9
43.9
23.6
54.8
-31.2
-34.9
9.0
43.9
1.8
13.2
13.7
-.5
-8.9
-9.5
.6
.1
2.3
-2.1
11.3
7.7
3.7
1.9
1.5
A
10.5
11.1
-.5
.3
.1
.2
98.1
56.8
89.7
62.3
103.0
62.0
105.9
60.2
107.6
58.5
106.9
57.2
108.6
60.0
Addenda:
Domestic output of new autos *
Sales of imported new autos 2
.
93.3
54.0
90.5
59.9
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
Table 1.18.—Auto Output in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1988
1987
1985
III
IV
I
II
III
IV
I
104.8
104.5
106.4
107.9
106.7
104.1
99.2
103.1
114.5
84.6
29.9
18.4
41.2
-22.8
-30.9
5.5
36.5
1.1
116.0
129.9
99.7
30.2
19.2
43.8
-24.6
-34.3
5.2
39.5
1.2
87.0
94.8
105.6
120.3 101.6 107.3
88.7 73.5
79.5
31.6 28.1 27.9
15.0
17.0
16.3
38.2
35.7
38.3
-21.3 -20.7 -21.9
-33.0 -30.8 -30.3
6.4
5.5
5.0
36.3
36.6
38.0
1.2
1.4
1.3
1
106.5
106.4
2
3
4
5
6
7
8
9
10
11
12
102.7
109.3
80.4
28.9
19.3
40.5
-21.2
-27.1
5.4
32.6
1.3
92.7 101.9
95.6 108.6
106.7
118.9 108.8 117.0 104.1 111.0
80.4
84.4 74.3
88.4 79.5
30.5
29.3 32.7 29.8
30.6
16.2
17.0
18.7
18.3
18.3
36.8 39.2
38.3 42.8
40.6
-22.3 -22.1 -24.5 -19.8 -20.5
-31.9 -30.8 -28.1 -29.7 -29.3
5.4
5.5
5.8
7.1
6.0
35.2 35.1
35.2
37.3 36.8
1.4
1.3
1.5
1.3
1.3
Change in business inventories of new and used autos
13
14
15
3.8
3.2
.6
-.3
-.5
.2
6.1
5.4
.7
.4
-.1
.5
12.1
14.0
-2.0
2.6
4.2
-1.7
16
17
87.7
42.0
85.3
48.8
81.1
46.8
84.5
50.7
86.8
43.5
86.6
44.4
Auto output
New
Used
101.7
108.9
3.2 -8.1
2.0 -11.5
3.4
1.2
IV
I
II
III
IV
I
II
99.4
II
Final sales
Personal consumption expenditures
New autos
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
.. ..
Net exports of goods and services
Exports
Imports
...
....
Government purchases of goods and services
1989
1988
1987
1986
104.0
99.4
111.9
114.4
110.1
110.9
112.3
111.9
119.1
84.8
34.4
18.9
42.9
-24.0
-27.4
6.5
34.0
1.3
105.0
113.9
82.2
31.7
17.3
43.7
-26.4
-27.4
7.8
35.2
1.2
109.5
117.9
84.6
33.4
18.1
43.2
-25.1
-27.9
7.5
35.4
1.4
103.2
113.8
81.6
32.2
16.2
39.0
-22.8
-28.3
7.8
36.1
1.4
111.9
115.6
82.3
33.3
19.7
44.7
-25.0
-24.9
7.2
32.2
1.5
107.4
93.3 107.9
119.4 107.1 117.2
86.0
76.3
88.9
31.2
30.8
30.5
15.7
17.8
18.9
41.5
38.1
41.3
-23.5 -22.4 -22.7
-31.1 -30.9 -29.8
6.6
6.8
5.3
36.4
37.8
36.5
1.4
1.6
1.3
1.1
3.1
-2.0
17.2
17.1
0
4.4
2.5
1.9
-8.0
-9.2
1.2
10.7
11.1
-.4
-8.5
-8.9
A
0
1.8
-1.8
9.4
6.4
2.9
.6
.3
.3
7.7
8.2
-.5
.4
.3
.1
83.6
52.4
85.8
42.6
79.6
46.1
76.2
50.7
82.7
47.9
75.1
52.4
86.2
52.0
88.1
50.1
88.6
48.3
86.9
46.7
88.4
49.0
Addenda:
Domestic output of new autos *
Sales of imported new autos 2
85.2
46.9
86.0
51.5
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
Table 1.19.—Truck Output
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1985
1986
IV
Truck output l
1987
II
III
IV
I
II
1988
III
1989
IV
I
II
III
IV
II
I
1
...
....
56.3
55.5
59.7
66.3
58.9
54.2
57.4
55.8
54.5
58.5
58.4
57.6
64.1
64.9
65.2
63.8
71.2
70.3
68.#
2
3
4
5
6
7
8
Final sales
Personal consumption expenditures
Producers' durable equipment
Net exports of goods and services
Exports
Imports
Government purchases of goods and services
Change in business inventories
I
56.1
23.9
33.0
-6.7
2.7
9.4
5.9
55.0
26.0
30.8
-7.1
3.0
10.1
5.3
58.3
27.7
32.6
-6.6
3.7
10.3
4.7
65.9
29.2
36.7
-5.6
3.8
9.5
5.7
56.8
23.9
34.5
-7.5
3.0
10.5
5.9
50.3
22.4
30.1
-7.5
2.9
10.4
5.3
55.3
25.6
31.3
-7.0
3.5
10.6
5.4
60.3
30.5
32.4
-7.8
2.7
10.5
5.3
54.2
25.5
29.4
-5.8
3.1
8.9
5.1
53.5
25.7
30.1
-7.1
3.7
10.8
4.8
58.4
28.7
32.9
-7.5
3.5
11.0
4.2
60.5
28.4
33.6
-6.4
3.4
9.8
4.8
61.0
27.7
33.9
-5.5
4.2
9.7
4.9
65.8
29.0
35.7
-5.0
4.1
9.1
6.1
65.1
28.9
35.8
-5.3
3.7
9.0
5.7
65.9
29.1
36.6
-5.3
3.9
9.2
5.5
67.0
29.8
38.9
-6.9
3.7
10.5
5.2
65.5
30.3
35.7
-6.3
3.9
10.2
5.8
65.7
30.2
35.8
-5.7
3.4
9.1
5.4
9
.2
.5
1.3
.4
2.1
3.9
2.1
-4.5
.3
5.0
0
-2.8
3.2
-.8
.1
-2.1
4.2
4.8
2.6
1. Includes new trucks only.
Table 1.20.—Truck Output in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1985
IV
Truck output '
Final sales
Personal consumption expenditures
Producers' durable equipment
Net exports of goods and services
C
rnment ourchases of soods and services
Change in business inventories
1. Includes new trucks only.
1986
1988
1987
1989
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
1
50.9
47.8
50.9
55.7
52.2
47.7
49.9
47.2
46.3
49.8
49.9
49.1
54.7
55.2
55.4
53.8
58.3
57.0
55.5
2
3
4
5
6
7
8
50.7
21.6
29.8
-6.0
2.5
8.5
5.3
47.4
22.5
26.6
-6.3
2.6
9.0
4.6
49.8
23.5
27.9
-5.7
3.2
8.8
4.0
55.3
24.6
30.8
-4.7
3.2
7.9
4.7
50.3
21.3
30.5
-6.7
2.6
9.3
5.2
44.3
19.8
26.4
-6.6
2.5
9.1
4.7
48.1
22.2
27.2
-6.1
3.1
9.2
4.7
51.0
26.2
27.9
-7.6
2.3
9.9
4.6
46.0
21.8
24.9
-5.0
2.6
7.6
4.3
45.6
22.0
25.7
-6.1
3.2
9.2
4.1
50.0
24.5
28.2
-6.4
3.0
9.4
3.6
51.5
24.2
28.6
-5.5
2.9
8.4
4.1
52.0
23.4
29.1
-4.7
3.6
8.3
4.2
55.8
24.5
30.4
-4.3
3.5
7.8
5.2
55.3
24.4
30.5
-4.5
3.1
7.7
4.9
55.3
24.5
30.7
-4.5
3.3
7.7
4.6
54.9
24.8
31.6
-5.7
3.0
8.7
4.2
53.3
24.8
29.0
-5.1
3.2
8.3
4.7
53.5
24.7
29.1
-4.6
2.8
7.4
4.4
9
.2
.4
1.1
.3
1.9
3.4
1.8
.2
4.2
0
-2.4
2.6
-.7
.2
3.3
3.7
2.0
-3.9
-1.6
July 1989
49
SURVEY OF CURRENT BUSINESS
Table 1.21.—Farm Sector Output, Gross Product, and National Income
Table 1.23.—Housing Sector Output, Gross Product, and National Income
[Billions of dollars]
[Billions of dollars]
Line
1985
1986
1987
1
1588 1490 1554 1634
2
144.9
134.4
140.1
3
4
5
6
7
8
9
10
75 1
698
109
9
54
-33
-14
-1 9
62 8
715
97
9
58
-1 8
-3
-1 5
643
757
91
g
66
Less: Intermediate goods and services purchased ' ...
Intermediate goods and services, other than rent
Rent paid to nonoperator landlords.
11
12
13
834
728
106
Equals: Gross farm product
14
Less: Capital consumption allowances with capital consumption
adjustment.
Indirect business tax and nontax liability.
Plus: Subsidies to operators
Farm output
Cash receipts from farm marketings and net Commodity Credit
Corporation loans.
Crops
. .
Livestock
Gross rental value of farm housing
Farm products consumed on farms
Other farm income
Change in farm inventories
Crops.
Livestock
Equalsc Farm national income ..
.
Compensation of employees
Wages and salaries
Supplements to wages and salaries .
Proprietors' income and corporate profits with inventory
valuation and capital consumption adjustments.
Proprietors* income
Corporate profits .
Net interest
150.5
-8
71 6
788
95
8
63
-36
-3.5
_i
732
647
86
78 6
704
82
874
782
92
754
758
768
761
15
22.0
21.5
21.0
20.3
16
17
31
63
30
95
31
139
32
118
-13
-5
18
566
608
666
645
19
20
21
22
95
80
15
31.8
93
79
15
37.8
99
83
16
44.2
10 1
84
16
42.4
23
24
25
302
16
153
347
31
137
41 6
26
124
398
27
120
1. Equals intermediate goods and services purchased less the value of losses incurred by business lenders
due to loan defaults.
Table 1.22.—Farm Sector Output, Gross Product, and National Income in
Constant Dollars
1988
Line
Housing output
Nonfarm housing
Owner-occupied
Tenant-occupied ..
.
387.4 417.8
2
3
4
5
!
1985
1
1988
3764 4080 4406 4720
272.7 293.7 317.1 339.3
103.8 114.3 123.5 132.7
9.5
97
9.1
10.9
1986
1987
449.7 481.5
Less' Intermediate goods and services consumed 2
6
Equals* Gross housing product
7
323.9 351.0
g
9
10
11
315.3 343.1 371.8 401.5
233.2 251.7 272.5 292.8
820 914 99.3 108.6
8.6
7.5
7.8
7.9
Nonfarm housing
Owner-occupied
Tenant-occupied
Farm housing
63.4
95.7
66.8
70.4
72.2
379.3 409.3
107.2
113.8
Less: Capital consumption allowances with capital consumption
adjustment.
Capital consumption allowances
Less: Capital consumption adjustment
Indirect business tax and nontax liability plus business transfer
payments.
Plus: Subsidies less current surplus of government enterprises
12
16
9.5
10.0
10.9
11.6
Equals' Housing national income
17
174.0
193.3
210.9
229.2
Compensation of employees
Proprietors' income with inventory valuation and capital
consumption adjustments.
Rental income of persons with capital consumption
adjustment.
Corporate profits with inventory valuation and capital
consumption adjustments.
Net interest
13
14
15
18
19
20
21
22
99.5
44.5 48.1 52.5
56.9
-51.3 -51.3 -54.7 -56.9
63.8
68.2 72.1 77.8
32
7.1
-15.8
3.7
35
7.8
-9.0
3.8
36
8.0
-5.5
4.1
40
9.7
-3.6
4.7
1758 1872 2006 2144
1. Equals personal consumption expenditures for housing less expenditures for other housing as shown in
table 2.4.
2. Equals intermediate goods and services consumed less the value of losses incurred by lenders due to
mortgage defaults.
Table 1.24.—Housing Sector Output, Gross Product, and National Income in
Constant Dollars
[Billions of 1982 dollars]
[Billions of 1982 dollars]
Line
1985
1986
1987
1988
1
164.1
163.1
167.1
158.3
2
150.7
147.8
151.5
144.2
1987
1988
Line
Farm output
Cash receipts from farm marketings and net Commodity Credit
Corporation loans.
Crops
Livestock
....
Gross rental value of farm housing
Farm products consumed on farms
Other farm income
Change in farm inventories
Crops
Livestock.
....
.
3
4
5
6
7
8
9
10
767
740
117
1.0
50
-43
-1 5
-27
737
742
11.4
.9
54
-24
_3
-2 1
76 1
754
11 1
.8
59
-2.1
-1 0
-1 1
677
765
10.8
.8
53
-2.8
-28
0
Less: Intermediate goods and services purchased *
Intermediate goods and services other than rent
Rent paid to nonoperator landlords
11
12
13
84.7
739
10.8
79.0
696
9.4
83.8
749
8.9
85.5
76.7
8.8
Equals! Gross farm product
14
79.4
84.1
83.4
72.7
Less: Capital consumption allowances with capital consumption
adjustment.
Indirect business tax and nontax liability
Plus* Subsidies to operators .
15
20.0
19.0
18.0
17.1
16
17
34
25
36
24
36
25
31
22
Equals! Farm national income
18
63.9
64.3
1
Housing output '
Nonfarm housing . .
Owner-occupied
Tenant-occupied
Farm housina
.
.. . ...
1985
328.8 335.2 344.9 352.1
2
3
4
5
317.0 323.8 333.8 341.3
230.8 234.5 241.4 245.7
89.4 92.4 95.6
86.3
10.8
11.7
11.1
11.4
1986
Less* Intermediate goods and services consumed 2
6
Equals! Gross housing product
7
274.9 281.6
8
9
10
11
2656 2724 2818 290.3
1974 2010 2075 2120
682 714 743 783
9.1
9.2
9.3
8.9
O
ri
Tenant-occupied
Farm housing
53.9
53.6
54.0
52.9
290.9 299.2
12
88.6
89.9
92.8
95.6
13
55.2
56.6
58.6
60.3
14
7.3
7.5
7.7
142.5
147.2
Less: Capital consumption allowances with capital consumption
adjustment.
Indirect business tax and nontax liability plus business transfer
payments.
Plus* Subsidies less current surplus of CTovernment enterprises
Equals: Housing national income
15
54.7
58.5
1. Equals intermediate goods and services purchased less the value of losses incurred by business lenders
due to loan defaults.
138.3
7.9
151.2
1. Equals personal consumption expenditures for housing less expenditures for other housing as shown in
table 2.5.
2. Equals intermediate goods and services consumed less the value of losses incurred by lenders due to
mortgage defaults.
50
SURVEY OF CURRENT BUSINESS
July 1989
2. Personal Income and Outlays
Table 2.1.—Personal Income and Its Disposition
[Billions of dollars]
Seasonally adjusted at annual rates
1985
1986
1987
1986
1985
1987
1989
II
III
IV
3,325.3 3,526.2 3,777.6 4,064.5 3,399.1 3,457.0 3,509.9 3,540.2 3,597.8 3,673.6 3,732.7 3,795.5 3,908.7 3,948.5 4,026.6 4,097.6 4,185.2 4,317.8 4,396.2
Personal income..
1,975.4 2,094.8 2,249.4 2,429.0 2,027.4 2,056.9 2,074.8 2,104.3 2,143.1 2,184.4 2,220.6 2,266.3 2,326.2 2,353.4 2,405.4 2,452.2 2,505.1 2,560.7 2,606.6
Wage and salary disbursements
Commodity-producing industries
Manufacturing
Distributive industries
Service industries
Government and government enterprises
608.9
460.9
473.2
521.3
372.0
625.6
473.2
498.8
576.7
393.7
649.9
490.3
531.9
648.3
419.2
696.3
524.0
571.9
714.4
446.5
619.2
468.3
484.6
543.4
380.3
623.2
471.7
490.8
557.4
385.5
621.9
470.6
493.7
568.3
391.0
624.9
473.0
501.1
581.9
632.3
477.7
509.7
599.3
401.9
637.9
482.4
517.6
618.7
410.2
641.7
483.7
526.7
636.4
415.7
652.9
492.7
537.2
654.3
422.0
667.2
502.5
546.1
683.8
678.2
511.4
554.0
684.3
437.0
690.8
519.2
568.0
703.5
443.1
701.6
527.2
578.0
723.0
714.7
538.1
587.5
746.7
456.3
726.6
546.3
598.8
768.4
466.9
733.1
549.5
610.2
789.7
473.5
Other labor income
187.6
199.3
212.8
228.9
189.7
193.7
197.2
201.2
205.0
207.6
210.5
222.3
225.9
236.5
241.3
246.0
Proprietors' income with inventory valuation
and capital consumption adjustments.
255.9
282.0
311.6
327.8
264.2
269.4
289.5
279.7
289.2
306.7
305.8
305.2
328.7
324.0
331.8
327.0
328.3
359.3
355.1
30.2
225.6
34.7
247.2
41.6
270.0
39.8
288.0
29.2
235.0
26.2
243.2
44.3
245.2
31.2
248.5
37.2
252.0
44.4
262.3
39.8
266.0
33.6
271.6
48.4
280.3
44.0
279.9
45.4
286.5
37.7
289.3
32.0
296.3
59.0
300.3
52.6
302.6
Farm
Nonfarm
....;
9.2
Old-age, survivors, disability, and health
insurance benefits.
Government unemployment insurance
benefits.
Veterans benefits..
Government employees retirement benefits
Other transfer payments
Aid to families with dependent children
Other
Less: Personal contributions for social
insurance.
Less: Personal tax and nontax payments..
9.6
11.5
11.7
13.5
14.7
13.0
11.5
14.3
15.6
14.6
16.3
16.1
11.8
92.0
523.2
548.2
102.2
571.1
584.7
79.0
485.9
497.5
83.0
493.4
510.3
85.6
494.4
517.7
86.9
492.4
526.7
87.7
492.7
531.2
88.8
502.1
539.0
90.3
516.2
547.6
93.2
527.9
550.8
95.7
546.5
555.5
98.2
549.6
575.8
100.4
560.0
581.8
103.6
576.3
587.4
106.4
598.6
593.8
109.4
629.0
616.4
111.4
655.1
626.2
269.2
282.9
300.5
257.0
264.3
266.8
273.3
278.3
283.1
284.3
285.7
299.2
301.4
304.0
316.9
322.5
15.7
20
13.4
85.8
493.2
521,5
253.4
,
11.6
78.7
478.0
489.8
Rental income of persons with capital
consumption adjustment.
Personal dividend income
Personal interest income
Transfer payments
16.3
14.5
13.0
15.2
15.5
16.3
16.9
16.7
15.5
15.0
14.3
13.2
13.5
13.1
12.5
13.5
13.9
16.7
66.8
137.3
15.4
121.9
16.7
70.9
148.3
16.4
131.9
16.6
76.4
157.9
16.7
141.2
17.0
82.7
171.5
17.2
154.3
16.5
67.9
140.8
15.8
125.0
17.0
69.2
144.2
15.9
128.3
16.9
70.3
147.5
16.4
131.0
16.7
71.4
149.5
16.5
133.0
16.4
72.6
152.1
16.7
135.4
16.6
74.1
154.5
16.6
137.9
16.7
76.0
156.8
16.7
140.1
16.5
77.4
158.3
16.7
141.6
16.5
78.1
161.9
16.7
145.1
16.9
81.4
166.8
17.0
149.8
16.9
83.0
169.6
17.1
152.5
17.0
82.8
173.2
17.3
155.9
17.0
83.7
176.5
17.5
159.0
17.6
86.9
181.5
17.6
163.9
17.5
87.9
184.3
17.8
166.5
149.3
161.9
172.9
194.9
152.6
159.4
160.8
162.7
164.6
169.7
171.3
173.7
177.0
190.3
193.4
196.4
199.6
210.0
212.9
486.6
512.9
571.7
586.6
499.6
497.8
503.5
515.9
534.4
530.8
594.6
572.0
589.2
572.2
590.7
585.9
597.8
628.3
651.6
Equals: Disposable personal income
2,838.7 3,013.3 3,205.9 3,477.8 2,899.5 2,959.2 3,006.5 3,024.3 3,063.4 3,142.8 3,138.1 3,223.5 3,319.4 3,376.4 3,435.9 3,511.7 3,587.4 3,689.5 3,744.5
Less: Personal outlays
2,713.3 2,888.5 3,104.1 3,333.1 2,787.7 2,823.3 2,851.5 2,917.7 2,961.4 3,006.9 3,082.1 3,149.9 3,177.6 3,244.4 3,301.9 3,362.1 3,424.0 3,483.8 3,540.9
Personal consumption expenditures
Interest paid by consumers to business
Personal transfer payments to foreigners (net) ,
Equals: Personal saving
2,629.0 2,797.4 3,010.8 3,235.1 2,700.4 2,734.3 2,761.0 2,826.0 2,868.5 2,914.7 2,989.4 3,055.9 3,083.3 3,148.1 3,204.9 3,263.4 3,324.0 3,381.4 3,437.9
89.1
91.4
88.6
90.2
82.6
85.9
87.0
89.8
90.9
90.8
92.6
94.2
95.6
96.1
92.0
96.7
98.1
100.1
101.4
1.4
1.8
2.1
1.7
1.9
2.0
1.8
2.0
1.8
2.1
1.9
1.9
2.0
1.5
1.9
1.9
1.9
2.2
1.6
125.4
124.9
101.8
144.7
111.7
135.9
155.0
106.6
102.0
135.9
163.4
205.7
203.7
Addenda:
Disposable personal income:
Total, billions of 1982 dollars
Per capita:
Current dollars
1982 dollars
Population (mid-period, millions)..
Personal saving as percentage of disposable
personal income.
2,542.8 2,635.3 2,676.6 2,793.2 2,562.8 2,609.2 2,648.6 2,637.3 2,646.2 2,672.3 2,632.5 2,675.6 2,726.2 2,757.2 2,773.3 2,806.4 2,835.9 2,881.7 2,884.4
11,861 12,469 13,140 14,116 12,068 12,290 12,458 12,499 12,629 12,928 12,880 13,196 13,552
10,625 10,905 10,970 11,337 10,667 10,837 10,975 10,900 10,909 10,993 10,805 10,953 11,130
239.3 241.7 244.0 246.4 240.3 240.8 241.3 242.0 242.6 243.1 243.6 244.3 244.9
3.2
3.9
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
4.6
5.2
3.5
3.3
4.3
1.8
2.3
4.3
13,754 13,966 14,235 14,504 14,884 15,071
11,232 11,273 11,377 11,466 11,625 11,609
245.5 246.0 246.7 247.3 247.9 248.5
3.9
3.9
4.6
5.6
5.4
July 1989
51
SURVEY OF CURRENT BUSINESS
Table 2.2.—Personal Consumption Expenditures by Major Type of Product
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1986
1985
I
IV
Personal consumption expenditures '
173.8
134.7
64.7
Food
Clothinw and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
Services ' .
196.2
139.7
70.0
911,2
942.0
998.1 1,052.3
932.7
7
8
9
10
11
12
Nondurable goods
471.6
156.4
90.6
192.6
18.5
174.1
500.0
166.8
73.5
201.7
16.6
185.1
529.2
177.2
75.2
216.6
17.6
199.0
482.5
160.6
91.0
198.5
19.7
178.8
13
. . .
....
14
15
16
17
18
19
20
195.5
149.1
76.5
211.6
162.0
81.6
179.1
129.9
63.2
3
4
5
1987
III
IV
I
II
1989
1988
III
I
IV
II
III
IV
I
II
2,629.0 2,797.4 3,010.8 3,235.1 2,700.4 2,734.3 2,761.0 2,826.0 2,868.5 2,914.7 2,989,4 3,055.9 3,083.3 3,148.1 3,204.9 3,263.4 3,324.0 3,381.4 3,437.9
372.2 406.0 421.0 455.2 373.2 381.8
393.6 426.4 422.0 401.2 419.2 439.3 424.5 446.4 454.6 452.5 467.4 466.4 470.3
6
Motor vehicles and parts
Furniture and household equipment
Other..
. . . .
Housing
Household operation
Electricity a n d gas.
Other
Transportation
Medical care
.
Other1
.
1
2
Durable goods
II
559.7
186.8
76.8
229.0
19.5
209.5
208.4
162.7
81.4
201.1
143.8
77.1
179.9
146.2
75.0
194.4
147.7
77.2
941.4
952.1
976.4
994.3 1,006.0 1,015.4 1,022.2 1,042.4 1,066.2 1,078.4 1,098.3 1,116.6
501.4
168.2
68.6
203.2
16.2
187.0
511.9
168.7
66.0
205.5
16.0
189.5
521.3
173.4
71.7
210.0
16.4
193.6
526.8
175.7
75.5
216.3
17.6
198.7
188.9
138.2
66.5
214.2
141.9
70.4
939.0
935.4
490.6
163.0
86.8
198.6
18.0
180.7
496.3
167.1
72.5
199.6
16.4
183.1
180.7
135.1
66.0
211.3
151.0
77.0
531.7
178.9
76.8
218.6
17.7
200.9
196.3
151.4
76.7
536.8
180.6
76.7
221.3
18.8
202.5
210.3
156.9
79.2
542.5
180.8
74.3
224.5
19.3
205.2
212.5
162.2
79.9
554.5
183.6
76.9
227.5
19.4
208.1
567.8
188.9
78.3
231.2
19.6
211.6
215.3
166.1
86.0
574.1
193.9
77.6
232.8
19.7
213.1
211.7
172.1
82.6
587.3
195.0
77.9
238.1
18.7
219.4
213.3
173.3
83.7
588.6
198.5
88.7
240.9
20.2
220.7
1,345.6 1,449.5 1,591.7 1,727.6 1,394.5 1,413.4 1,432.0 1,458.2 1,494.4 1,537.1 1,575.8 1,610.6 1,643.3 1,679.5 1,707.9 1,744.7 1,778.2 1,816.7 1,851.0
403.0
175.3
88.9
86.4
89.8
291.5
386.0
434.2
179.6
87.3
92.3
96.6
318.4
420.7
467.7
185.9
88.5
97.4
106.5
357.7
473.9
501.3
197.6
93.7
104.0
117.9
398.3
512.4
416.2
179.0
90.2
88.8
92.1
304.3
402.9
422.9
176.9
86.7
90.2
94.5
308.3
410.8
430.2
179.4
87.5
92.0
95.2
313.4
413.9
437.5
181.2
87.9
93.3
97.0
321.2
421.2
446.1
180.9
87.0
93.8
99.8
330.9
436.8
454.9
180.8
85.8
95.0
103.0
342.0
456.5
462.8
186.6
89.9
96.7
105.2
353.3
467.8
471.3
188.7
90.1
98.6
106.3
364.3
480.0
481.9
187.5
88.4
99.1
111.4
371.1
491.5
490.8
192.9
92.2
100.7
113.1
379.9
502.9
496.6
194.9
92.1
102.8
117.4
391.3
507.7
505.0
200.2
94.5
105.7
119.8
404.7
514.9
513.0
202.4
95.8
106.6
121.5
417.4
523.9
III
IV
520.2
201.1
93.6
107.5
124.4
432.3
538.7
527.5
203.6
94.8
108.8
125.7
442.9
551.3
1. See the box on page 21 of the July 1989 SURVEY OF CURRENT BUSINESS.
Table 2.3.—Personal Consumption Expenditures by Major Type of Product in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
IV
Personal consumption expenditures '
Durable goods
Motor vehicles and parts
Furniture and household equipment
Other
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
Services '
Housing
Household operation
Electricity and gas
Other
Tran sportation
Medical care
Other1
1
II
III
IV
I
II
III
IV
I
II
1989
I
II
2,354.8 2,446.4 2,513.7 2,598.4 2,386.9 2,410.9 2,432.4 2,464.4 2,477.8 2,478.3 2,507.7 2,536.5 2,532.3 2,570.8 2,586.8 2,608.1 2,627.7 2,641.0 2,648.2
2
355.1
384.4
389.6
413.6
356.4
363.7
374.5
401.9
397.5
376.1
389.3
403.8
389.4
408.4
414.8
410.7
420.5
419.3
423.8
3
4
5
164.4
131.0
59.7
176.2
142.9
65.3
168.8
152.3
68.5
179.2
164.8
69.6
158.9
136.6
61.0
164.3
137.4
62.1
170.7
141.4
62.4
191.3
145.3
65.4
178.4
147.7
71.4
158.7
149.1
68.3
168.5
151.3
69.5
181.0
154.1
68.7
167.2
154.7
67.4
179.1
160.4
68.9
180.9
165.4
68.5
176.2
165.3
69.2
180.6
168.0
71.8
176.1
174.8
68.4
177.2
177.9
68.7
6
847.4
878.1
890.4
904.5
858.3
870.1
879.8
879.1
883.5
887.7
889.0
891.8
892.9
896.6
899.2
910.3
912.0
915.0
905.8
7
8
9
10
11
12
435.5
147.2
94.4
170.3
19.6
150.7
447.1
157.4
97.5
176.2
22.0
154.2
452.7
159.6
95.9
182.1
23.0
159.2
460.0
161.3
97.1
186.1
25.4
160.7
441.0
149.9
94.5
173.0
20.5
152.5
446.6
153.9
96.8
172.8
20.3
152.5
448.7
159.2
97.1
174.9
21.5
153.4
444.5
158.3
98.5
177.9
22.8
155,1
448.7
158.0
97.7
179.1
23.3
155.8
452.6
159.6
96.1
179.4
22.2
157.2
451.2
157.6
97.2
183.0
23.1
159.9
452.8
161.2
95.2
182.6
22.6
160.0
454.1
159.9
95.2
183.7
24.0
159.6
456.3
159.6
95.6
185.1
25.0
160.1
459.8
157.1
97.3
185.0
24.7
160.3
461.9
164.1
97.4
187.0
25.3
161.7
462.1
164.6
98.2
187.2
26.6
160.5
466.0
165.0
97.6
186.5
24.0
162.4
458.6
165.5
95.6
186.0
25.2
160.9
13
14
15
16
17
18
19
20
1,152.3 1,183.8 1,233.7 1,280.2 1,172.2 1,177.1 1,178.0 1,183.4 1,196.8 1,214.5 1,229.5 1,240.9 1,250.0 1,265.9 1,272.8 1,287.0 1,295.2 1,306.7 1,318.5
341.7
151.6
77.5
74.1
82.1
240.9
336.0
348.2
151.9
76.5
75.4
86.2
251.5
346.0
358.4
156.7
78.8
77.9
89.6
266.8
362.3
1. See the box on page 21 of the July 1989 SURVEY OF CURRENT BUSINESS.
I
1988
1987
1986
1985
366.1
164.1
82.8
81.3
94.5
278.2
377.4
344.4
153.9
79.1
74.8
83.8
245.2
344.9
346.3
150.2
75.2
75.1
85.0
247.7
347.9
346.8
151.5
76.2
75.3
85.4
249.6
344.7
348.6
152.6
77.0
75.5
86.9
252.4
342.9
351.0
153.3
77.6
75.7
87.4
256.5
348.6
354.7
153.2
76.6
76.7
88.0
261.0
357.6
357.5
157.5
80.0
77.5
89.3
265.6
359.6
359.6
158.6
80.1
78.5
90.1
269.1
363.5
361.7
157.5
78.7
78.8
90.8
271.6
368.3
364.0
162.1
82.1
80.0
92.5
273.3
374.0
365.6
162.4
81.8
80.5
93.9
275.6
375.4
366.8
166.3
84.0
82.4
95.2
279.9
378.8
368.0
165.7
83.3
82.4
96.2
283.9
381.3
369.6
163.4
80.7
82.7
96.3
289.0
388.3
371.5
164.5
81.5
83.0
96.7
292.2
393.5
52
SURVEY OF CURRENT BUSINESS
July 1989
Table 2.4.—Personal Consumption Expenditures by Type of Expenditure
[Billions of dollars]
Line
1
1985
1986
1987
2,629.0 2,797.4 3,010.8 3,235.1
2
503.8
533.6
564.8
3
4
5
6
7
322,7
139.9
8.0
.9
' 32.2
339.1
151.6
8.5
.9
33.6
353.7
165.5
9.1
.8
35.6
8
9
415.6
35.1
440.8
36.6
468.2
37.2
497.3
37.9
10
Clothin
Kitchen and other household appliances 8 (d )
China, glassware, tableware, and utensils (d.)
Other durable house furnishings 9 (d.)
Semidurable house furnishings 10 (n.d.)
Cleaning and polishing preparations, and miscellaneous
household supplies and paper products (n.d).
Stationery and writing supplies (n.d.)
Electricity (s.)
Gas (s.)
_
.e ..
,
s
. ? ,T^
V •/
Telenhone and telesraoh Cs ")
Domestic service (f)
Other " (s )
Medical care
.
....
Dru^ preparations and sundries 12 (n d )
Ophthalmic products and orthopedic appliances (d.)
Physicians (s )
.
.
. . .
. . .
Dentists (s )
Other professional services 13 (s )
Privately controlled hospitals and sanitariumsl4 (s.)
Medical care and hospitalization
Income loss 16 (s.)
Workers' compensation 17 (s.)
15
(s.)
.
38.8
41.4
44.4
48.5
23.1
15.7
24.6
16.8
26.2
18.2
27.9
20.7
403.0
434.2
467.7
501.3
272.7
103.8
10.9
15.7
293.7
114.3
9.7
16.4
317.1
123.5
9.1
18.0
339.3
132.7
9.5
19.8
334.1
347.5
363.0
386.4
28.0
23.7
13.0
28.2
14.0
26.4
30.4
25.5
14.3
30.6
15.2
27.8
31.7
26.7
15.0
33.2
15.8
29.1
33.5
28.4
15.7
35.6
16.6
30.8
7.0
124.2
59.3
29.6
16.8
18.5
40.4
9.4
19.8
7.2
122.4
60.7
26.6
18.5
16.6
42.7
9.5
21.7
8.1
126.3
63.1
25.4
20.1
17.6
44.1
9.6
23.5
8.7
135.1
66.4
27.3
21.9
19.5
47.1
9.8
25.1
44
Household operation
26.8
160.0
107.5
52.4
.1
11.0
25.1
11.4
35
36
37
38
39
40
41
42
43
Rental value of farm dwellings (s.)
Other 7 (s.)
25.7
151.4
101.8
49.5
.1
9.8
24.2
9.4
29
30
31
32
33
34
Owner-occupied nonfarm dwellings— space rent 5 (s.)
24.3
142.4
96.0
46.3
.1
9.2
22.8
8.5
28
Housing
22.9
133.4
89.5
43.9
.1
8.8
20.5
7.6
327.5
357.6
399.3
443.0
45
46
47
48
49
50
51
52
53
54
28.1
7.9
73.5
21.5
34.7
140.2
21.6
17.7
2.3
1.7
30.2
9.0
80.6
22.8
40.2
152.4
22.4
18.5
2.5
1.5
32.3
9.3
93.8
25.0
46.6
166.3
25.9
20.6
2.6
2.7
34.5
10.2
105.0
27.0
54.3
182.3
29.8
24.3
2.7
2.7
User-operated transportation
New autos (d.)
Other motor vehicles (d )
i
Tires, tubes, accessories, and other parts (d )
.
.
Repair, greasing, washing, parking, storage, and rental (s.)
Gasoline and oil (n.d ) ...
Bridge, tunnel, ferry, and road tolls (s.)
Insurance premiums less claims paid (s.)
Transit systems (s.)
Railway (commutation) (s.)
,
Purchased intercity transportation
Railway (excludin° commutation) (s )
Bus (s )
Airline (s.)
Other 20(s.)
Recreation
169.9
192.5
223.2
234.4
56
57
14.8
11.7
19.7
13.0
20.5
14.6
17.6
15.6
58
60.2
71.2
88.5
91.1
59
60
61
62
35.8
28.0
6.3
13.1
37.0
30.9
6.6
14.1
42.3
34.9
7.0
15.5
45.4
39.4
7.6
17.6
359.5
366.3
377.1
406.4
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
330.1
87.4
35.1
31.3
25.2
49.1
90.6
1.4
9.9
7.2
3.6
3.1
.5
22.2
.6
1.2
18.5
1.9
335.9
100.3
35.8
33.6
26.5
52.0
73.5
1.7
12.6
7.8
3.9
3.3
.6
22.6
.7
1.1
18.8
2.0
343.4
93.5
38.2
35.1
28.7
55.5
75.2
1.9
15.4
8.2
4.0
3.5
.7
25.5
.7
1.4
21.2
2.2
369.7
101.2
43.0
36.1
31.3
62.5
76.8
2.0
16.8
8.4
4.1
3.8
.5
28.2
.8
1.6
23.3
2.5
185.7
201.2
224.5
246.8
83
84
85
86
8.1
13.2
21.1
26.7
8.6
13.9
23.1
29.7
9.4
15.2
26.2
33.7
9.8
16.0
28.1
36.5
87
37.0
38.8
42.5
48.8
88
89
90
91
92
3.2
5.5
9.5
3.6
3.0
3.3
5.8
10.2
3.9
3.3
3.7
6.6
11.3
4.2
4.0
3.9
6.8
11.9
4.2
4.4
93
94
95
96
97
2.9
4.8
15.1
2.6
38.9
2.9
5.0
16.0
2.6
44.1
3.0
5.5
17.1
2.7
50.6
3.2
5.9
18.9
2.8
57.5
98
43.3
46.6
51.1
58.0
99
100
101
15.7
13.8
13.7
16.9
14.5
15.3
17.9
15.6
17.6
19.3
16.9
21.8
Religious and welfare activities27 (s.)
102
57.1
62.9
68.2
76.1
Foreign travel and other, net l
103
13.1
6.5
7.0
3.2
104
105
106
107
22.9
4.1
13.3
.5
29.4
4.0
26.4
.5
33.2
4.2
30.0
.5
36.1
3.7
36.2
.5
Books and maps (d.)
Magazines newspapers and sheet music (n d )
Nondurable toys and sport supplies (n.d.)
Wheel goods, durable toys, sports equipment, boats, and
pleasure aircraft (d.).
Radio and television receivers, records, and musical instruments
(d.).
Flowers, seeds, and potted plants (n d )
Admissions to specified spectator amusements
Morion picture theaters (s.)
Legitimate theaters and opera, and entertainments of nonprofit
institutions (except athletics) (s.).
Spectator sports 21 (s.)
Clubs and fraternal organizations except insurance22 (s.)
Commercial participant amusements 23 (s.)
Parimutuel net receipts (s.)
Other24 (s.)
Private education and research
Higher education ^ (s )
Elementary and secondary schools ^ (s )
Other M (s )
Foreign travel by U.S. residents
1
1. See footnotes 28 and 29.
2. Consists of purchases (including tips) of meals and beverages from retail, service, and amusement
establishments, hotels, dining and buffet cars, schools, school fraternities, institutions, clubs, and industrial
lunchrooms.
3. Includes luggage.
4. Consists of watch, clock, and jewelry repairs, costume and dress suit rental, and miscellaneous personal
services related to clothing.
5. Consists of rent for space and for heating and plumbing facilities, water heaters, lighting fixtures,
kitchen cabinets, linoleum, storm windows and doors, window screens, and screen doors, but excludes rent
for appliances, furniture, fuel, and electricity:
6. Consists of space rent (see footnote 4) and rent for appliances, furnishings, and furniture.
7. Consists of transient hotels, motels, clubs, schools, and other group housing.
8. Consists of refrigerators and freezers, cooking ranges, dishwashers, laundry equipment, stoves, air
conditioners, sewing machines, vacuum cleaners, and other appliances.
9. Includes such house furnishings as floor coverings, comforters, quilts, blankets, pillows, picture frames,
mirrors, art products, portable lamps, and clocks. Also includes writing equipment and hand, power, and
garden tools.
10. Consists largely of textile house furnishings including piece goods allocated to house furnishing use.
Also includes lamp shades, brooms, and brushes.
11. Consists of maintenance services for appliances and house furnishings, moving and warehouse
expenses, postage and express charges, premiums for fire and theft insurance on personal property less claims
paid, and miscellaneous household operation services.
12. Excludes drug preparations and related products dispensed by physicians, hospitals, and other medical
services.
13. Consists of osteopathic physicians, chiropractors, private duty nurses, chiropodists, podiatrists, and
others providing health and allied services, not elsewhere classified.
14. Consists of (1) current expenditures (including capital consumption allowances with capital consumption adjustment) of nonprofit hospitals, sanitariums, and nursing homes, and (2) payments by patients to
proprietary hospitals, sanitariums, and nursing homes.
15. Consists of (1) premiums, less benefits and dividends, for health, hospitalization, and accidental death
and dismemberment insurance provided by commercial insurance carriers, and (2) administrative expenses
(including capital consumption allowances with capital consumption adjustment) of Blue Cross and Blue
Shield plans and of other independent prepaid and self-insured health plans.
16. Consists of premiums, less benefits and dividends, for income loss insurance.
17. Consists of premiums, less benefits and dividends, for privately administered workers' compensation.
1988
82
Transportation
234.2
24
25
26
27
Barbershops, beauty parlors, baths, and health clubs (s.)
24.4
220.5
23
Personal care
23.8
207.2
21
22
Shoes (n d )
Clothing and accessories except shoes3
Women's and children's (n.d.)
,
Men's and boys' (n d )
Standard clothing issued to military personnel (n.d)
Cleaning, storage, and repair of clothing and shoes (s.)
Jewelry and watches (d.)
Other 4 (s.)
22.7
193.3
12
13
14
15
16
17
18
19
nd 'ewelr °
20.9
11
20
accessories
1987
63
Brokerage charges and investment counseling (s.)
Bank service charges, trust services, and safe deposit box rental
(s.).
Services furnished without payment by financial intermediaries
except life insurance carriers and private noninsured pension
plans (s.).
Expense of handling life insurance I8 (s.)
Legal services (s )
Funeral and burial expenses (s )
Other 19 (s )
372.6
176.6
9.7
.8
36.9
Addenda: Food excluding alcoholic beverages (n.d.)
Alcoholic beverages purchased for off-premise
consumption (n.d.).
1986
55
Personal business
596.6
Food purchased for off-premise consumption (n d )
Purchased meals and beverages 2 (n d ) .
Food furnished employees (including military) (n.d.)
Food produced and consumed on farms (n.d.)
1985
Line
1988
28
(s.)
Less: Expenditures in the United States by foreigners29 (s.)
Less: Personal remittances in kind to foreigners (n.d.)
18. Consists of (1) operating expenses of life insurance carriers and private noninsured pension plans, and
(2) premiums, less benefits and dividends, of fraternal benefit societies. Excludes expenses allocated by
commercial carriers to accident and health insurance.
19. Consists of current expenditures (including capital consumption allowances with capital consumption
adjustment) of trade unions and professional associations, employment agency fees, money order fees,
spending for classified advertisements, and other personal business services.
20. Consists of baggage charges, coastal and inland waterway fares, travel agents' fees, and airport bus
fares.
21. Consists of admissions to professional and amateur athletic events and to racetracks including horse,
dog, and auto.
22. Consists of dues and fees excluding insurance premiums.
23. Consists of billiard parlors; bowling alleys; dancing, riding, shooting, skating, and swimming places;
amusement devices and parks; golf courses; sightseeing buses and guides; private flying operations; and other
commercial participant amusements.
24. Consists of net receipts of lotteries and expenditures for purchases of pets and pet care services, cable
TV, film processing, photographic studios, sporting and recreation camps, and recreational services, not
elsewhere classified.
25. Equals current expenditures (including capital consumption allowances with capital consumption
adjustment) less receipts—such as those from meals, rooms, and entertainments—accounted for separately in
consumer expenditures, and less expenditures for research and development financed under contracts or
grants.
26. Consists of (l)fees paid to commercial, business, trade, and correspondence schools and for educational
services, not elsewhere classified, and (2)current expenditures (including capital consumption allowances with
capital consumption adjustment) by research organizations and foundations for education and research.
27. Equals current expenditures (including capital consumption allowances with capital consumption
adjustment) of religious, social welfare, foreign relief, and political organizations, museums, libraries, and
foundations. The expenditures are net of receipts—such as those from meals, rooms, and entertainmentsaccounted for separately in consumer expenditures, and excludes relief payments within the United States and
expenditures by foundations for education and research.
28. Estimates beginning with 1986 incorporate new data on travel and passenger fares and cover U.S.
students' expenditures abroad. See the box on page 21 of the July 1989 SURVEY OF CURRENT BUSINESS for
more information about the resulting discontinuity.
29. Estimates beginning with 1986 incorporate new data on travel and passenger fares and cover foreign
students' expenditures in the United States. See the box on page 21 of the July 1989 SURVEY OF CURRENT
BUSINESS for more information about the resulting discontinuity.
NOTE—Consumer durable goods are designated (d.), nondurable goods (n.d.), and services (s.).
53
SURVEY OF CURRENT BUSINESS
July 1989
Table 2.5.—Personal Consumption Expenditures by Type of Product in Constant Dollars
[Billions of 1982 dollars]
Line
Personal consumption expenditures '
1986
1985
1
2,354.8
2,446,4
2,513.7
2,598.4
2
355.1
384.4
389.6
413.6
Motor vehicles and parts
New autos (65)
Net purchases of used autos (66)
Other motor vehicles (67)
Tires, tubes, accessories, and other parts (68)
3
4
5
6
7
164.4
80.4
28.9
28.4
26.8
176.2
88.4
30.6
29.1
28.2
168.8
79.5
29.3
29.8
30.2
179.2
84.4
32.7
30.3
31.9
Furniture and household equipment
Furniture, including mattresses and bedsprings (29)
Kitchen and other household appliances (30)
China, glassware, tableware, and utensils (31)
,
Radio and television receivers, records, and musical instruments (87)
Other durable house furnishings (32)
,
8
9
10
11
12
13
131.0
26.1
23.5
12.7
42.5
26.2
142.9
27.7
25.4
13.6
48.0
28.2
152.3
28.2
26.7
13.8
53.8
29.9
164.8
28.9
28.1
14.3
62.4
31.2
Other
Ophthalmic products and orthopedic appliances (46)
Wheel goods, durable toys, sports equipment, boats, and pleasure aircraft (86)
Jewelry and watches (18)
Books and maps (83)
14
15
16
17
18
59.7
7.1
25.5
20.3
6.8
65.3
7.8
28.3
22.3
6.8
68.5
7.6
31.5
22.0
7.3
69.6
8.0
33.0
21.3
7.4
19
847.4
878.1
890.4
904.5
20
21
22
23
435.5
304.5
123.0
8.1
447.1
311.2
127.8
8.1
452.7
310.2
134.2
8.2
460.0
314.2
137.4
8.4
24
25
26
386.1
32.3
17.8
396.5
32.4
18.2
402.1
32.3
18.3
410.1
32.2
17.7
Clothing and shoes
Shoes (12)
Women's and children's clothing and accessories except shoes (14)
Men's and boys' clothing and accessories except shoes (15+16)
27
28
29
30
147.2
22.2
84.0
41,0
157.4
23,7
90.9
42.7
159.6
24.3
90.9
44.4
161.3
24.1
92.0
45.2
Gasoline and oil (70)
31
94.4
97.5
95.9
97.1
Fuel oil and coal (40)
32
19.6
22.0
23.0
25.4
Other
Tobacco products (7)
Toilet articles and preparations (21)
Semidurable house furnishings (33)
Cleaning and polishing preparations, and miscellaneous household supplies and paper products (34)
Drug preparations and sundries (45)
Nondurable toys and sport supplies (85)
Stationery and writing supplies (35)
Net foreign remittances (105 less 107)
Other (84+89)
33
34
35
36
37
38
39
40
41
42
150.7
23.9
20.5
12.3
24.0
22.5
21.3
6.3
3.6
16.4
154.2
23.3
21.0
13.1
24.8
22.7
23.2
6.5
2.7
16.9
159.2
23.1
21.9
13.1
25.1
22.8
25.8
7,1
2.4
18.0
160.7
21.9
22.4
13.6
25.7
22.7
26.5
7.5
2.0
18.1
Durable goods
«
Nondurable goods
Food
Food purchased for off-premise consumption (3)
Purchased meals and beverages (4)
Food furnished employees (including military) and food produced and consumed on farms (5+6)
.
Addenda: Food excluding alcoholic beverages(S)
Alcoholic beverages purchased for off-premise consumption (9)
Other alcoholic beverages (10)
Services1
43
1,152.3
1,183.8
1,233.7
1,280.2
Housing
Owner-occupied nonfarm dwellings—space rent (24)
Tenant-occupied nonfarm dwellings—rent (25)
Rental value of farm dwellings (26)
,.
Other (27)
44
45
46
47
48
341.7
230.8
86.3
11.7
13.0
348.2
234.5
89.4
11.4
13.0
358.4
241.4
92.4
11.1
13.5
366.1
245.7
95.6
10.8
14.0
Household operation
Electricity (37)
Gas (38)
!
Water and other sanitary services (39)
Telephone and telegraph (41)
Domestic service (42)
Other (43)
49
50
51
52
53
54
55
151.6
52.2
25.3
13.7
33.7
9.2
17.5
151.9
52.6
23.9
14.3
34.0
9.2
17.9
156.7
54.9
23.9
14.8
35.3
9.2
18.5
164.1
57.0
25.8
15.3
37.9
9.3
18.8
Transportation
User-operated transportation (69+71+72)
Purchased local transportation
Transit systems (74)
Other (75+76)
Purchased intercity transportation
Railway (excluding commutation) (78)
Bus (79)
Airline (80)
Other (81)
56
57
58
59
60
61
62
63
64
65
82.1
54.7
6.5
3.2
3.3
20.9
.5
1.0
17.8
1.6
86.2
56.2
6.7
3.1
3.5
23.3
.5
.8
20.3
1.6
89.6
57.8
6.7
3.2
3.5
25.0
.5
1.0
21.7
1.7
94.5
61.8
6.6
3.2
3.4
26.1
.6
1.2
22.4
1.9
67
68
69
70
71
240.9
60.3
17.5
29.3
118.2
15.6
251.5
61.6
17.6
32.1
123.9
16.2
266.8
66.9
18.1
36.2
128.8
17.0
278.2
69.8
18.3
39.8
132.6
17.8
72
73
74
75
76
77
78
79
80
336.0
27.9
7.6
13.8
6.5
138.9
15.5
8.8
47.7
346.0
28.9
7.6
14.3
7.0
146.0
20.5
9.2
49.7
362.3
30.1
7.7
15.0
7.4
151.1
20.2
9.8
51.3
377.4
33.3
8.3
16.4
8.6
154.4
20.5
9.8
51.1
81
82
83
84
85
86
87
88
89
90
66.9
66.1
7.8
58.2
38.3
13.3
12.3
12.7
52.4
12.6
66.7
69.7
8.1
61.7
40,0
13.6
12.6
13.8
56.0
5.3
69.8
75.6
8.5
67.1
42.2
13.9
13.0
15.4
58.4
4.8
73.0
81.3
8.5
72.9
45.7
14.3
13.4
18.0
62.0
Physicians (47)
Dentists (48)
Other professional services (49)
Privately controlled hospitals and sanitariums (50)
Health insurance (51)
,
Other 1
,
Personal care
Cleaning, storage, and repair of clothing and shoes (17)
Barbershops, beauty parlors, baths, and health clubs (22)
Other (19)
Personal business
.
Brokerage charges and investment counseling (56)
Bank service charges, trust services, and safe deposit box rental (57)
Services furnished without payment by financial intermediaries except life insurance carriers and private noninsured
pension plans (58).
Other (59+60+61+62)
Recreation
Admissions to specified spectator amusements (90)
Other (88+94+95+96+97)
Private education and research
Higher education (99)
Elementary and secondary schools (100)
Other (101)
Religious and welfare activities (102)
Net foreign travel (104 less 106)'
1. See footnotes 28 and 29 to table 2.4 and the box on page 21 of the July 1989 SURVEY OF CURRENT BUSINESS.
NOTE.—The figures in parentheses are the line numbers of the corresponding items in table 2.4.
54
SURVEY OF CURRENT BUSINESS
July 1989
Table 2, .—Personal Income by Type of Income
[Billions of dollars]
Wage and salary disbursements
Year and
month
1985
1986
1987
1988
Personal
income
Commodity-producing
All
industries
Total
Manufactur- Distributive
Service
ing
Proprietors' income
with inventory
valuation and capital
consumption
adjustments
Farm
Nonfarm
Rental
income of
persons with
capital
consumption
adjustment
Personal
dividend
income
Personal
interest
income
521.3
576.7
648.3
714.4
372.0
393.7
419.2
446.5
187.6
199.3
212.8
228.9
30.2
34.7
41.6
39.8
225.6
247.2
270.0
288.0
9.2
11.6
13.4
15.7
78.7
85.8
92.0
102.2
496.7
500.8
504.5
507.6
361.5
364.0
365.8
370.5
369.0
370.7
372.4
374.1
375.6
377.1
380.7
383.0
185.1
185.5
185.9
186.3
186.8
187.3
187.7
188.2
188.7
189.1
189.7
190.4
30.8
38.8
34.2
50.3
28.6
26.8
23.6
19.5
22.2
24.1
26.7
36.9
217.0
219.0
219.9
220.0
222.0
224.1
225.0
226.6
229.4
233.0
235.1
236.8
7.6
9.2
10.4
10.8
11.3
11.6
12.0
12.2
2.5
10.6
2.3
10.6
77.9
78.2
78.6
78.8
78.9
78.9
78.9
78,8
78.7
78.8
79.2
79.2
468.9
472.8
476.6
476.4
476.9
477.0
383.6
385.5
387.4
389.2
192.6
193.7
194.8
196.0
197.2
198.4
199.6
201.4
202.6
203.8
205.0
206.1
24.6
28.2
25.9
56.3
43.5
33.1
26.9
30.1
36.6
32.4
32.1
47.2
244.5
243.2
241.8
245.2
244.5
245.9
248.1
247.8
249.5
248.6
251.2
256.2
9.8
9.4
9.7
10.8
11.7
12.1
11.7
11.5
11.9
12.7
13.5
14.1
81.6
83.1
84.2
85.1
85.6
86.2
86.5
87.0
87.3
87.4
87.7
87.9
207.0
207.8
38.9
48.6
45.7
49.0
35.3
35.2
38.6
31.8
30.5
68.1
33.3
43.9
259.0
263.2
264.8
264.2
266.4
267.5
268.7
272.8
273.2
278.9
279.8
282.2
14.7
14.9
14.4
13.9
13.1
12.1
11.5
11.2
11.7
13.2
14.5
15.3
88.4
88.7
89.1
89.3
90.4
91.0
92.1
93.2
94.1
94.9
95.7
96.4
497.6
208.1
210.5
209.8
211.2
212.9
214.3
215.7
217.3
218.8
220.4
221.4
222.3
223.3
224.5
225.7
227.5
229.3
231.1
232.9
234.7
236.5
238.2
37.2
39.3
55.7
45.0
46.4
44.7
41.0
38.6
33.4
47.1
19.5
29.4
279.1
281.0
279.6
285.6
285.9
287.9
288.5
288.5
290.9
295.8
295.7
297.4
15.7
15.7
15.4
14.8
14.4
14.6
15.6
16.5
16.7
16.4
16.1
16.0
97.2
98.3
99.0
99.8
100.4
101.1
102.4
103.9
104.7
105.8
106.5
106.9
550.4
549.3
549.2
554.8
560.3
239.7
48.0
65.9
63.0
57.5
56.1
44.1
299.6
300.6
300.8
303.4
302.0
302.3
13.8
11.8
9.9
9.3
8.6
8.1
108.4
109.4
110.3
111.0
111.4
111.8
616.5
628.9
641.5
648.4
655.2
661.8
Transfer
payments
478.0
493.2
523.2
3,325.3
3,526.2
3,777.6
4,064.5
1,975.4
2,094.8
2,249.4
2,429.0
608.9
625.6
649.9
696.3
460.9
473.2
490.3
524.0
473.2
498.8
3,237.0
3,264.1
3,287.9
3,307.2
3,298.3
3,317.2
3,323.1
3,328.9
3,343.0
3,374.2
3,386.3
3,436.8
1,916.4
1,924.2
1,945.0
1,946.2
1,955.5
1,973.6
1,973.8
1,986.7
2,001.6
2,012.9
2,022.4
2,046.9
599.2
455.2
452.3
463.5
455.3
457.0
459.0
459.5
459.0
462.3
465.3
465.6
469.8
3,441.1
3,455.9
3,473.9
3,510.1
3,506.8
3,513.0
3,524.7
3,538.5
3,557.4
3,573.5
3,594.1
3,625.8
2,046.3
2,054.3
2,070.1
2,066.1
2,073.7
2,084.7
2,092.8
2,106.8
2,113.4
2,131.2
2,145.9
2,152.3
623.0
620.4
626.3
3,640.8
3,680.2
3,699.8
3,718.5
3,734.1
3,745.4
3,770.5
3,798.7
3,817.4
3,894.3
3,886.8
3,944.9
2,167.0
2,185.3
2,200.7
2,206.9
2,222.8
2,232.1
2,245.7
2,271.6
2,281.7
2,302.6
2,319.4
2,356.5
634.6
636.3
642.7
638.3
642.5
644.3
647.0
653.4
658.2
663.4
668.5
669.8
481.2
486.1
481.6
484.2
485.3
487.7
492.6
497.6
500.1
503.1
504.3
513.1
519.3
520.5
524.4
527.3
528.5
532.5
538.0
541.0
544.2
547.1
547.0
611.1
619.5
625.4
630.4
637.4
641.5
646.4
658.2
658.4
668.7
675.0
707.6
3,921.9
3,944.2
3,979.5
4,007.1
4,023.3
4,049.4
4,079.8
4,094.2
4,118.6
4,180.4
4,168.9
4,206.3
2,338.0
2,355.1
2,367.1
2,393.4
2,402.7
2,420.1
2,443.4
2,447.7
2,465.6
2,497.1
2,501.6
2,516.7
671.6
675.8
687.3
687.4
689.2
695.7
699.6
700.0
705.1
716.3
713.7
714.0
507.1
509.1
518.1
516.2
518.6
522.8
525.4
526.0
530.1
540.7
537.2
536.4
551.3
555.7
555.0
566.4
566.6
570.9
577,1
577.0
580.0
585.9
586.0
590.6
680.3
686.7
685.8
698.6
703.6
708.4
4,273.1
4,319.5
4,360.7
4,386.5
4,394.7
4,407.3
2,545.4
2,557.3
2,579.4
2,601.3
2,602.3
2,616.1
720.6
724.3
734.8
732.5
732.4
734.5
541.4
544.0
553.5
548.6
549.0
550.9
597.3
762.8
767.9
774.5
787.5
787.7
793.9
531.9
571.9
Government and
government
enterprises
Other
labor
income
May
June
July
August
September
October
November
December
597.1
609.4
602.4
604.7
607.0
607.1
610.5
612.0
618.0
617.5
621.9
461.6
461.8
468.0
467.0
469.9
474.1
473.2
475.7
479.9
480.8
483.4
489.6
511.9
521.7
521.1
526.4
534.1
537.0
540.8
552.3
1986
January
February
March
April
May
June
July
August
September
October
November
December
621.9
622.3
621.3
622.6
626.2
625.9
633.0
630.5
633.3
470,6
468.9
475.5
470.0
471.2
470.5
471.4
473.8
473.8
479.7
475.9
477.4
489.0
490.5
492.8
491.5
493.4
496.2
498.7
501.1
503.6
506,1
511.9
511.2
550.8
557.8
563.6
563.5
567.0
574.4
577.0
582.9
585.6
592.0
601.7
604.1
391.0
392.7
394.5
396.6
398.3
400.1
401.9
403.6
1987
January
February
March
April
May
June
July
August
September
October
November
December
1988
January
February
March
April
May
June
July
August
September
October
November
December
1989
January
February
March
April
May
June
479,7
598.1
601.0
610.0
608.7
612.0
719.2
721.0
728.7
741.0
745.5
753.6
408.3
410.3
412.1
413.8
415.7
417.7
419.8
422.0
424.2
426.3
428.7
432.1
434.9
437.0
439.0
441.0
443.1
445.1
447.4
449.7
451.8
453.9
456.4
458.5
3,271.3
3,469.4
3,714.7
4,003.7
145.9
146.3
147.5
147.5
147.9
149.1
149.0
149.9
150.8
151.6
152.2
153.9
3,181.2
3,200.6
3,229.2
3,232.5
3,245.6
3,266.5
3,275.8
3,285.9
3,297.5
3,326.9
3,336.7
3,377.0
158.4
159.2
160.5
159.8
, 161.4
161.2
162.0
162.9
163.2
164.1
164.8
164.9
3,393.7
3,405.0
3,425.5
3,431.3
3,441.1
3,457.9
3,475.7
3,486.5
3,499.0
3,519.4
3,540.3
3,557.0
550.1
550.4
551.9
554.5
555.0
556.9
168.9
169.8
170.4
170.7
171.4
171.8
172.5
174.0
174.5
175.6
176.6
178.9
3,580.2
3,609.9
3,632.9
3,648.2
3,677.3
3,688.9
3,710.6
3,745.5
3,765.6
3,805.0
3,832.2
3,879.8
572.1
573.7
581.5
582.0
580.8
582.7
585.7
587.9
588.7
592.2
593.5
595.6
189.3
190.5
191.2
192.7
193.2
194.3
196.1
195.9
197.2
199.5
199.1
200.1
3,863.5
3,883.8
3,902.8
3,941.0
3,955.9
3,983.6
4,017.9
4,034.6
4,064.1
4,112.3
4,128.4
4,155.9
610.7
614.2
624.2
623.9
625.7
629.0
209.0
209.8
4,204.0
4,232.4
4,276.5
4,307.7
4,317.2
4,341.8
521.5
548.2
584.7
571.1
464.6
467.0
469.2
471.2
473.6
475.7
241.3
242.9
244.4
246.0
247.5
479.3
482.8
484.9
485.8
486.3
486.9
495.0
476.1
491.1
493.5
495.9
497.5
499.1
475.8
477.2
481.3
485.7
490.9
491.9
508.3
509.6
493.6
494.8
495.5
494.2
493.4
492.9
492.2
492.0
492.2
492.4
493.5
513.0
514.8
517.9
520.4
528.1
524.6
527.3
529.3
531.0
533.3
501.9
0
506.9
512.0
516.8
519.7
523.2
527.4
533.1
540.6
546.9
552.2
565.1
570.1
576.0
583.0
590.8
598.6
606.4
Addendum: Total
nonfann
income '
149.3
161.9
172.9
194.9
489.8
1985
January
February
March
April
Less:
Personal
contributions for
social
insurance
.
537.0
539.5
540.4
543.5
550.9
548.3
211.3
212.6
212.6
213.4
1. Equals personal income less the following farm components; wages and salaries, other labor income, proprietors' income with inventory valuation and capital consumption adjustments, and net interest. These farm
mponents plus employer contributions for social insurance arul farm corporate profits with inventory valuation and capital consumption adjustments equal farm national income shown annually in table 1.21.
55
SURVEY OF CURRENT BUSINESS
July 1989
Table 2.7.—Personal Income and Its Disposition
Billions of dollars
Disposable personal income
Per capita
Less: Personal outlays
Year and
month
Personal
income
Less: Personal
tax and
nontax
payments
Equals:
Disposable
personal
income
Total
Personal
consumption
expenditures
Interest paid
by consumers
to business
Personal
transfer
payments to
foreigners
(net)
Equals:
Personal
saving
Total, billions
of 1982
dollars
Current
dollars
Population
(mid-period,
millions)
1982 dollars
Personal
saving as a
percentage of
disposable
personal
income1
1985 .
1986..
1987
1988
3,325.3
3,526.2
3,777.6
4,064.5
486.6
512.9
571.7
586.6
2,838.7
3,013.3
3,205.9
3,477.8
2,713.3
2,888.5
3,104.1
3,333.1
2,629.0
2,797.4
3,010.8
3,235.1
82.6
89.1
91.4
96.1
1.7
1.9
1.9
1.9
125.4
124.9
101.8
144.7
2,542.8
2,635.3
2,676.6
2,793.2
11,861
12,469
13,140
14,116
10,625
10,905
10,970
11,337
239.3
241.7
244.0
246.4
4.4
4,1
3.2
4.2
1985
January
February
March
April
May
June
July .
August
September
October
November
December
3,237.0
3,264.1
3,287.9
3,307.2
3,298.3
3,317.2
3,323.1
3,328.9
3,343.0
3,374.2
3,386.3
3,436.8
465.8
499.5
530.0
474.3
408.1
488.0
487.9
491.6
495.4
496.9
498.8
503.1
2,771.2
2,764.6
2,757.9
2,832.9
2,890.2
2,829.2
2,835.1
2,837.4
2,847.5
2,877.2
2,887.5
2,933.7
2,620.3
2,633.6
2,653.6
2,654.0
2,701.1
2,693.7
2,709.8
2,742.1
2,788.4
2,764.0
2,781.1
2,818.2
2,540.6
2,552.7
2,571.4
2,571.2
2,617.3
2,609.4
2,625.4
2,656.9
2,701.8
2,677.0
2,693.7
2,730.4
77.6
78.7
80.1
81.2
82.2
82.7
82.7
83.4
84.9
85.5
85.9
86.4
2.1
2.1
2.1
1.6
1.6
1.6
1.8
1.8
1.8
1.4
1.4
1.4
150,8
131.1
104.3
178.8
189.1
135.5
125.3
95.3
59.1
113.3
106.5
115.5
2,524.3
2,512.3
2,491.6
2,556.5
2,598.2
2,535.9
2,537.0
2,533.7
2,535.6
2,552.2
2,552.0
2,584.3
11,630
11,595
11,559
11,864
12,094
11,829
11,843
11,841
11,872
11,985
12,018
12,201
10,594
10,537
10,443
10,707
10,872
10,602
10,598
10,574
10,572
10,631
10,622
10,748
238.3
238.4
238.6
238.8
239.0
239.2
239.4
239.6
239.8
240.1
240.3
240.4
5.4
4.7
5.0
5.6
5.9
5.3
4.2
3.3
3.1
3.2
3.9
3.8
1986
January
February
March
April
May
June
July
August
September
October
November
December
3,441.1
3,455.9
3,473.9
3,510.1
3,506.8
3,513.0
3,524.7
3,538.5
3,557.4
3,573.5
3,594.1
3,625.8
496.2
497.8
499.4
499.5
502.3
508.7
511.2
516.3
520.4
525.8
532.9
544.4
2,944.9
2,958.1
2,974.6
3,010.6
3,004.5
3,004.2
3,013.5
3,022.2
3,037.0
3,047.7
3,061.2
3,081.4
2,828.6
2,819.2
2,822.1
2,837.0
2,859.1
2,858.3
2,882.5
2,903.4
2,967.1
2,937.4
2,944.5
3,002.4
2,740.2
2,730.0
2,732.6
2,747.1
2,768.5
2,767.5
2,791.2
2,811.9
2,874.8
2,844.3
2,851.5
2,909.7
86.4
87.2
87.6
88.1
88.8
89.0
89.4
89.6
90.5
91.0
91.0
90.6
2.0
2.0
2.0
1.8
1.8
1.8
1.8
1.8
1.8
2.1
2.1
2.1
116.3
139.0
152.4
173.6
145.4
146.0
131.0
118.9
70.0
110.4
116.7
78.9
2,588.4
2,609.0
2,630.4
2,661.9
2,647.0
2,636.9
2,638.2
2,637.1
2,636.9
2,639.8
2,644.0
2,654.9
12,239
12,286
12,346
12,486
12,450
12,439
12,466
12,491
12,540
12,573
12,619
12,693
10,757
10,836
10,917
11,040
10,969
10,918
10,914
10,899
10,888
10,890
10,899
10,937
240.6
240.8
240.9
241.1
241.3
241.5
241.7
242.0
242.2
242.4
242.6
242.8
4.2
4.6
5.2
5.2
5.2
4.7
4.4
3.5
3.3
3.2
3.3
3.7
1987
January
February
March
April
May
June
July
August
September
October
November
December
3,640.8
3,680.2
3,699.8
3,718.5
3,734.1
3,745.4
3,770.5
3,798.7
3,817.4
3,894.3
3,886.8
3,944.9
529.5
527.5
535.4
665.4
557.6
560.8
565.4
573.2
577.4
582.0
586.5
599.2
3,111.3
3,152.7
3,164.4
3,053.1
3,176.5
3,184.6
3,205.0
3,225.4
3,240.0
3,312.3
3,300.3
3,345.7
2,961.3
3,024.5
3,034.9
3,064.8
3,075.9
3,105.6
3,127.2
3,164.1
3,158.5
3,162.4
3,171.8
3,198.6
2,869.1
2,932.3
2,942.7
2,972.3
2,983.3
3,012.5
3,033.5
3,070.2
3,064.1
3,068.2
3,077.7
3,103.9
90.1
90.1
90.2
90.6
90.7
91.2
91.7
91.9
92.4
92.4
92.4
93.0
2.0
2.0
2.0
1.9
1.9
1.9
2.0
2.0
2.0
1.8
1,8
1.8
150.0
128.2
129.4
-11.7
100.6
79.0
77.9
61.3
81.6
150.0
128.4
147.1
2,656,6
2,681.9
2,678.5
2,572.2
2,664.2
2,660.8
2,672.7
2,677.6
2,676.4
2,725.8
2,708.0
2,744.8
12,808
12,969
13,008
12,541
13,038
13,060
13,133
13,204
13,251
13,535
13,474
13,648
10,936
11,032
11,011
10,566
10,935
10,912
10,952
10,962
10,946
11,138
11,056
11,197
242.9
243.1
243.3
243.4
243.6
243.8
244.0
244.3
244,5
244.7
244.9
245.1
3.8
4.3
2.6
2.3
1.8
2.7
2.3
2.3
3.0
3.7
4.3
3.9
1988
January
February
March
April
May
June
July ,
August
September
October
November.....
December
3,921.9
3,944.2
3,979.5
4,007.1
4,023.3
4,049.4
4,079.8
4,094.2
4,118.6
4,180.4
4,168.9
4,206.3
576.1
566.4
574.1
608.0
585.2
578.8
584.3
584.3
589.1
596.2
596.3
600.9
3,345.8
3,377.9
3,405.4
3,399.0
3,438.0
3,470.5
3,495.5
3,509.9
3,529.5
3,584.2
3,572.6
3,605.4
3,229.5
3,239.3
3,264.5
3,272.8
3,297.9
3,335.0
3,340.1
3,374.2
3,371.8
3,406.0
3,421.9
3,444.2
3,133.6
3,142.9
3,167.7
3,176.3
3,200.9
3,237.4
3,242.0
3,275.4
3,272.9
3,306.8
3,321.8
3,343.3
93.8
94.3
94.7
95.0
95.5
96.1
96.2
96,9
97.0
97.3
98.1
98.9
2.1
2.1
2.1
1.5
1.5
1.5
1.9
1.9
1.9
1.9
1.9
1.9
116.3
138.5
140.9
126.2
140.1
135.6
155.4
135.7
157.7
178.2
150.7
161.2
2,737.3
2,761.3
2,773.1
2,752.9
2,773.6
2,793.4
2,803.0
2,807.6
2,808.7
2,840.6
2,826.3
2,841.0
13,639
13,761
13,863
13,828
13,976
14,095
14,184
14,228
14,294
14,502
14,444
14,565
11,158
11,249
11,289
11,199
11,275
11,345
11,374
11,381
11,375
11,494
11,427
11,477
245.3
245.5
245.6
245.8
246.0
246.2
246.4
246.7
246.9
247.1
247.3
247.5
4.0
3.9
4.0
4.0
3.9
4.1
4.1
4.3
4.4
4.6
4.6
4.5
1989
January
February
March
April
May
June
4,273.1
4,319.5
4,360.7
4,386.5
4,394.7
4,407.3
631.2
621.7
631.9
668.4
648.0
638.5
3,641.9
3,697.8
3,728.8
3,718.1
3,746.7
3,768.9
3,467.3
3,487.1
3,496.9
3,534.8
3,543.1
3,544.7
3,365.6
3,384.7
3,394.0
3,432.2
3,440.2
3,441.4
99.5
100.2
100.7
101.0
101.4
101.8
2.2
2.2
2.2
1.6
1.6
1.6
174.6
210.7
231.9
183.3
203.5
224.1
2,852.9
2,891.9
2,900,0
2,873.4
2,883.6
2,896.0
14,702
14,917
15,031
14,977
15,080
15,157
11,517
11,666
11,690
11,575
11,607
11,646
247.7
247.9
248.1
248.3
248.4
248.7
5.0
5.6
5.6
5.5
5.4
:...
1. Monthly estimates equal the 3-month moving average of personal saving as a percentage of the 3-month moving average of disposable personal income.
56
SURVEY OF CURRENT BUSINESS
Table 2.8.—Personal Consumption Expenditures by Major Type of Product
[Billions of dollars!
July 1989
Table 2.9.—Personal Consumption Expenditures by Major Type of Product in
Constant Dollars
[Billions of 1982 dollars]
Personal
consumption
expenditures
Year and month
Durable goods
Nondurable goods
Services
Personal
consumption
expenditures
Year and month
Durable goods
Nondurable goods
Services
1985
1986
1987
1988
2,629 0
2,797.4
30108
3235 1
3722
406.0
421 0
4552
9112
942.0
998 1
1 052 3
1 3456
1,449.5
1 591 7
1 7276
1985
1986
1987
1988
23548
2,446.4
2,513.7
2,598.4
355 1
384.4
3896
413.6
8474
878 1
8904
904.5
1 1523
1,1838
1,2337
1,280.2
1985
January
February.
March
April
May.. ..
June
July
August
September
October
November
December
2,540.6
25527
2,571.4
2,571.2
26173
2,609.4
2,625 4
2,656.9
2701 8
26770
26937
2,730.4
359.6
353 8
370.7
355.1
381 6
364.7
3674
381.7
4125
371 4
3709
377.3
883.9
891 7
897.0
904.3
907 4
905.2
9109
916.1
9202
9264
9341
937.5
1,297.2
1 3072
1,303.7
1,311.9
1 3283
1 339.6
1 347.1
1,359.1
1 3692
1 3792
1 3887
1,415.6
1985
January
February .
March
April
May
June
July
August
September
October
November
December
2,314.3
23197
2323 1
23204
23528
23389
2,349 3
2,372.6
2,405.9
2,374.6
2,380.7
2,405.2
344.2
3385
351 6
3400
3626
3482
351.1
364.1
392.2
354.5
354.5
360.2
835.0
8409
8385
843 1
8452
8409
845.3
851.1
853.7
856.7
859.7
858.4
1,135.0
1 1404
1 133 1
1 1374
1 145 1
1 1498
1,153.0
1,157.4
1,160.0
1,163.3
1,166.5
1,186.7
1986
January
February
March
April
May
June
July
August
September
October .
November
December
2,740.2
2,730.0
27326
2747 1
27685
2,767 5
2,791.2
2,811.9
28748
28443
2,851.5
2,909.7
393.0
378.2
3744
3943
4012
385.2
400.3
417.9
461 2
4145
405.4
446.0
943.0
936.7
9373
9279
9378
940.5
940.7
940.9
9425
9504
949.1
956.8
1,404.2
1,415.2
1 4209
1 4248
14295
1,441.7
1,450.2
1,453.1
1 471 2
1 479.4
1,497.0
1,506.9
1986
January
February
March
April
May
June
July
AuCTust
September .
October . .
November
December
24085
2,407.8
24164
24289
2439 1
2,429 1
2,443.6
2,453.6
24960
24636
2,462.8
2,507.0
3730
3606
3574
375 8
3812
366.6
379.6
394.2
4320
391 8
3836
417.1
8629
8682
8792
8760
881 3
8822
881.3
879.4
8765
8842
881.1
885.2
1 1725
1,1789
1 179 8
1 1770
1 1765
1,180.4
1,182.7
1,180.0
1 1875
1 1875
1,198 1
1,204.7
28691
29323
29427
2,972.3
2,983.3
30125
3,033 5
3,070.2
3,064.1
3,068 2
3,077.7
3,103.9
3883
4073
4078
418.0
413.5
426 1
431.4
447.7
438.8
418.1
422.3
433.0
9595
987.1
9828
989.6
993.1
10002
1,001.5
1,008.0
1,008.5
1,010.0
1,014.5
1,021.8
15214
1,537.9
15521
1,564.7
1,576.6
1 5862
1,600.6
1,614.6
1,616.7
1,640.2
1,640.9
1,649.0
1987
January
February
March
April
May
June
July
August
September
October ...
November ..
December
2,449.8
24944
2,490.9
2504 1
25021
25170
25296
2,548 7
2531 1
25249
25254
2,546.4
365.5
381 6
381.2
3893
3845
3939
3982
4109
402 1
3837
3873
397.1
877.5
8977
888.0
8886
8882
8902
8914
8934
8906
8894
8917
897.6
1,206.8
1 215 1
1,221 7
1 2262
1,2294
1 2329
1 2400
1,2444
1 2384
1 251 8
12465
1,251.8
3,133.6
3 1429
3 167.7
3,176.3
3,200.9
3,237 4
3,242.0
3,275.4
3,272.9
3,306.8
3,321.8
3,343.3
447.3
4455
446.4
447.7
451.8
464.2
449.0
456.9
451.6
456.9
462.8
482.4
1,014.8
1 019.5
1,032.2
1,032.4
1,043.0
1,051.7
1,059.1
1,068.8
1,070.8
1,076.3
1,084.3
1,074.6
1,671.5
1,6779
1,689.1
1,696.2
1,706.1
1,721.5
1,734.0
1,749.7
1,750.4
1,773.5
1,774.7
1,786.3
1988
January
February ..
March
April .
May
June
July
August
September
October
November
December
25637
25692
2,579 5
25725
2,582 3
2,605.8
2,599.7
26200
2,604.5
26208
2,627.9
2,634.5
4084
4082
4084
4094
412.4
422.7
408.9
4142
409.1
4121
417.3
432.0
8918
8963
901 5
8940
899.1
904.5
906.9
9144
909.7
911.2
918.0
907.0
12635
12647
12695
1,269 1
1,270.8
1,278.6
1,283.9
1,291 4
1,285.6
1,297.5
1,292.6
1,295.5
3,365.6
3 3847
3,394.0
3,432.2
3440.2
3,441.4
473.1
464.2
461.8
477.3
467.7
466.0
1,093.8
1,098.6
1,102.5
1,113.2
1,118.1
1,118.5
1,798.7
1,821.9
1,829.6
1,841.7
1,854.4
1,856.9
1989
January
February . .
March
April
May
June
2,636.5
26470
2,639.6
2,652.5
2,647.8
2,644.3
423.7
4172
417.1
430.1
421.9
419.6
915.7
918 1
911.3
906.6
904.7
906.2
1,297.1
1,311.7
1,311.2
1,315.8
1,321.2
1,318.6
,
,
,
1987
January
February
March
April.
May
July
.
August
September
October
November
December
.. ..
1988
January
March
April
May
June
July
..
August
September
October
November
December
.,
1989
January
March
April
May
June
.
. .
. . .
,
,
57
SURVEY OF CURRENT BUSINESS
July 1989
3. Government Receipts and Expenditures
Table 3.1.—Government Receipts and Expenditures
[Billions of dollars]
Line
1985
1986
1987
1988
1
1,270 8
1 347 4
1 464 9
2
3
4
5
4866
964
333 6
354 1
5129
106 3
348 9
379 2
571 7
124 7
367 8
400 8
444 6
6
1,402 6
14915
1 5750
1 658 8
Purchases of goods and services
Compensation of employees
Other
7
8
9
8208
4190
401 8
872 2
443 8
428 4
926 1
473 0
453 2
Transfer payments
To persons
To foreigners
10
11
12
481 2
467 8
13 4
510 8
496 8
13 9
533 9
521 5
12 4
ccc 7
Net interest paid
Interest paid
To persons and business
To foreigners
Less: Interest received by government ..
13
14
15
16
17
97 7
1942
1729
21 3
965
101 2
206 1
183 5
22 6
1049
104 1
216 0
192 0
24 i
9^0 7
OOA 7
Receipts
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance
,
Expenditures
Less: Dividends received by government .
. . .
co/: (L
Q£Q Q
Cf\C 0
29 1
1110
fi 7
18
45
55
Subsidies less current surplus of government enterprises . . ..
Subsidies
Less: Current surplus of government enterprises
19
20
21
12 8
27 2
144
Less: Wage accruals less disbursements
22
72
229
157
2
23
-1318
-144 1
110 1
96 1
24
25
623
-194 1
74 8
218 9
90 1
2002
T}C Q
Surplus or deficit (-), national income and product accounts
Social insurance funds
Other
o o
io r
17 6
31 5
14 0
Q
?O fi
112
Q
222 1
Table 3.2.—Federal Government Receipts and Expenditures
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
IV
Receipts
II
III
IV
I
II
III
IV
I
II
1989
III
IV
I
1
Indirect business tax and nontax accruals
Excise taxes
.. .
Customs duties
Nontaxes
972.4
805.3
810.9
815.9
830.9
853.8
860.7
926.2
921.5
937.4
944.7
973.2
977.3
413.0
403.5
7.9
1.6
355.3
348.3
6.3
.7
351.4
344.0
6.7
.7
354.9
347.0
7.2
.7
363.3
355.1
7.5
.8
376.2
368.1
7.0
1.0
370.9
362.4
7.5
.9
424.4
415.5
7.7
1.2
408.1
398.9
7.7
1.5
420.0
411.9
6.7
1.5
402.7
393.9
7.3
1.5
417.5
407.5
8.0
1.9
411.4
401.7
8.1
1.5
420.3
410.7
8.0
1.6
446.8
437.0
8.1
1.7
76.3
17.8
58.5
83.8
17.8
66.0
101.0
17.7
83.3
111.4
17.4
94.1
78.8
17.3
61.5
82.0
18.7
63.2
81.9
17.9
64.0
82.5
17.3
65.2
88.9
17.2
71.6
93.2
17.4
75.8
100.4
17.7
82.7
107.4
17.9
89.5
103.1
17.9
85.2
104.2
16.6
87.5
111.6
16.7
94.9
114.0
17.5
96.5
115.8
18.6
97.3
117.0
19.5
97.5
55.1
34.6
12.2
8.3
50.5
30.5
13.7
6.3
53.8
31.6
15.4
6.7
56.7
34.2
16.4
6.1
53.5
34.5
12.7
6.3
50.3
31.4
12.8
6.0
49.2
30.1
13.4
5.8
51.6
30.3
14.4
6.9
50.8
30.3
14.2
6.4
52.7
31.0
14.9
6.7
54.2
31.6
15.7
6.8
53.8
31.7
15.3
6.8
54.5
32.0
15.9
6.6
55.9
33.1
16.5
6.3
55.9
34.0
16.0
6.0
57.4
34.6
16.4
6.3
57.8
35.1
16.9
5.8
58.0
35.1
17.1
5.9
14
Expenditures
II
994.6 1,036.2
405.8
397.2
7.4
1.3
13
Contributions for social insurance
Purchases of goods and services
National defense
Nondefense
911.4
361.4
353.5
7.1
.8
9
10
11
12
.
827.9
346.4
339.3
6.5
.7
6
7
8
Corporate profits tax accruals
788.7
2
3
4
5
.
Personal tax and nontax receipts
Income taxes
• •
Estate and gift taxes
Nontaxes
Other
I
1988
1987
1986
1985
.. .. 15
16
17
464.2
452.9
9.5
1.8
58.5
35.1
17.4
5.9
419.8
332.1 350.8 391.3 317.7 327.3 329.9 333.4 337.9 344.0 347.2 352.2 359.7 382.0 388.2 394.5 400.6 414.3
310.9
985.6 1,034.8 1,072.8 1,118.3 1,017.5 1,006.6 1,051.9 1,037.7 1,042.8 1,060.1 1,063.8 1,065.5 1,101.7 1,096.5 1,114.7 1,099.8 1,162.1 1,183.7 1,197.8
355.2 366.5 381.6
381.3 376.6 358.5 368.7 369.9 368.8 375.6 378.2 384.5 388.1 374.1 377.1 367.5 406.4 399.0 403.9
300.5 298.7 302.4
277.8 294.8 298.0 268.6 266.8 277.1 286.5 280.7 288.0 294.0 300.2 296.8 297.4 298.0 296.1
259.1
100.4
71.4
101.5
105.9
83.4
84.2
91.3
76.7
79.1
91.6
88.1
87.5
84.3
108.0
91.7
86.8
83.3
96.0
88.7
380.1
366.7
13.4
399.9
386.0
13.9
414.3
401.9
12.4
438.2
425.4
12.9
385.8
370.3
15.5
389.9
379.5
10.4
398.6
383.5
15.1
405.3
389.5
15.8
405.8
391.3
14.5
407.1
396.5
10.6
413.8
402.6
11.2
414.3
403.3
11.0
421.9
405.2
16.7
433.0
421.5
11.4
434.4
424.2
10.2
438.0
426.3
11.7
447.6
429.4
18.2
460.4
448.9
11.5
467.9
455.1
12.8
21
99.7
106.8
102.6
111.4
103.5
105.2
109.8
109.1
103.0
101.3
105.2
101.7
102.2
110.1
112.2
111.0
112.2
118.7
118.9
22
23
24
25
130.1
152.0
130.7
21.3
135.6
158.2
135.6
22.6
141.7
162.3
138.2
24.1
151.4
173.8
144.8
29.1
132.7
155.4
133.9
21.5
134.8
158.2
135.7
22.5
136.6
159.1
136.9
22.2
135.0
158.7
136.0
22.8
136.0
156.9
134.0
22.9
137.8
158.3
134.5
23.8
139.1
159.8
136.0
23.9
142.5
163.2
139.3
23.9
147.3
167.7
143.1
24.6
144.9
171.7
145.1
26.6
149.9
171.1
142.7
28.4
153.9
174.4
144.2
30.2
157.0
178.3
147.2
31.1
167.0
187.4
154.9
32.5
172.1
192.1
158.1
34.0
26
21.9
22J
20.6
22.4
22.7
23.4
22.5
23.8
20.9
20.5
20.7
20.7
20.4
26.8
21.2
20.5
21.2
20.4
19.9
27
Subsidies less current surplus of government
enterprises.
28
Subsidies
Less: Current surplus of government enterprises.. 29
20.3
26.0
32.6
36.0
19.0
18.2
38.3
18.4
29.2
38.4
27.5
22.7
41.9
34.4
41.2
29.4
38.9
38.5
35.0
22.2
1.9
26.5
.5
30.8
-1.8
28.9
-7.1
19.0
0
19.8
1.6
38.6
.4
22.0
3.6
25.5
-3.7
37.6
-.9
27.2
-.3
20.8
-1.9
37.7
-4.2
29.8
-4.6
32.2
-9.0
17.6
-11.8
35.9
-3.0
34.2
-4.3
28.1
-6.9
Transfer payments
To persons
To foreigners
18
19
20
Grants-in-aid to State and local governments
Net interest paid
To persons and business
To foreigners
Less1 Wage accruals less disbursements
Surplus or deficit (-), national income and
product accounts.
Social insurance funds . ...»
Other
0
0
0
0
.2
-.2
0
0
0
0
0
0
0
0
0
-.2
0
0
-196.9 -206.9 -161.4 -145.8 -212.2 -195.6 -236.0 -206.8 -189.0 -199.4 -137.7 -143.9 -164.4 -151.8 -141.5 -122.5 -167.6 -147.5
0
31
32
33
62.7
45.7
51.6
63.6
58.2
17.4
15.7
21.9
21.3
26.8
35.7
15.4
19.6
26.4
54.8
17.7
11.0
17.6
-207.9 -224.5 -187.8 -200.6 -227.6 -213.3 -253.4 -222.5 -208.7 -221.4 -158.9 -170.8 -200.0 -197.5 -193.2 -180.7 -231.2 -210.1
64.1
30
58
SURVEY OF CURRENT BUSINESS
July 1989
Table 3.3.—State and Local Government Receipts and Expenditures
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1985
IV
1987
1986
I
II
III
IV
I
II
1988
III
IV
I
II
1989
III
IV
II
1
1
Income taxes
Nontaxes
Other
,
581.8
626.3
656.1
701.6
598.0
615.3
619.2
633.0
637.6
637.1
658.9
659.6
668.9
684.8
699.2
706.0
716.5
732.6
2
Receipts
Personal tax and nontax receipts
140.2
151.5
165.8
173.7
144.3
146.4
148.6
152.6
158.2
159.9
170.2
163.9
169.2
169.5
173.3
174.5
177.5
181.5
187.4
3
4
5
72.2
56.2
11.8
77.6
61.2
12.7
86.3
65.8
13.8
88.5
70.3
14.8
74.2
58.1
12.1
74.8
59.4
12.3
75.5
60.6
12.5
78.0
61.8
12.8
82.2
63.0
13.0
82.5
64.1
13.4
91.4
65.2
13.7
83.8
66.3
13.9
87.6
67.5
14.1
86.5
68.6
14.4
88.8
69.8
14.7
88.6
70.9
15.0
90.3
72.0
15.1
92.9
73.2
15.3
97.5
74.3
15.6
..
6
20.2
22.5
23.7
26.5
21.0
21.3
22.0
22.4
24.2
21.8
23.5
25.3
24.2
24.8
26.7
27.2
27.4
27.4
Indirect business tax and nontax accruals
7
278.5
298.5
314.0
336.8
284.8
297.1
292.7
301.7
302.3
305.3
310.3
318.2
322.1
328.3
334.1
339.7
344.9
349.7
354.8
8
9
10
131.0
107.1
40.5
140.0
114.6
43.8
149.2
121.3
43.5
160.5
131.0
45.2
133.7
109.9
41.2
136.1
112.0
49.0
138.1
113.9
40.8
142.4
115.6
43.7
143.6
117.1
41.6
144.1
118.4
42.8
147.3
120.1
43.0
152.0
122.1
44.1
153.4
124.5
44.1
156.5
127.3
44.5
159.1
129.9
45.1
161.7
132.3
45.7
164.8
134.5
45.7
166.8
136.8
46.1
168.9
139.1
46.7
Corporate profits tax accruals
Sales taxes
Property taxes
Other
Contributions for social insurance
11
43.2
47.1
50.0
53.3
44.4
45.2
46.0
47.2
49.8
48.8
49.6
50.4
51.2
52.0
52.9
53.7
54.6
55.4
56.3
Federal grants-in-aid
12
99.7
106.8
102.6
111.4
103.5
105.2
109.8
109.1
103.0
101.3
105.2
101.7
102.2
110.1
112.2
111.0
112.2
118.7
118.9
Expenditures
13
516.7
563.5
604.8
651.9
531.8
546.8
557.9
569.6
579.8
590.8
598.5
609.1
620.9
634.0
646.7
656.2
670.8
683.8
695.6
Purchases of goods and services
14
465.6
505.7
544.5
587.6
480.1
491.8
500.6
510.4
520.1
531.4
538.6
548.7
559.4
571.6
583.0
591.0
604.9
617.0
627.5
Compensation of employees
Other
15
16
278.8
186.8
300.3
205.5
322.1
222.4
346.5
241.2
286.2
194.0
291.5
200.3
297.1
203.5
302.6
207.8
309.8
210.3
314.0
217.4
319.2
219.4
324.7
224.0
330.5
228.9
337.5
234.1
343.5
239.6
349.4
241.6
355.5
249.5
361.8
255.1
367.8
259.6
Transfer payments to persons
.....
Net interest paid
Interest paid <
Less: Interest received by government
.
17
101.1
110.9
119.6
130.3
104.2
106.9
109.9
112.2
114.4
116.2
118.4
120.6
123.1
126.3
129.0
131.7
134.3
136.7
139.6
18
-32.4
-34.4
-37.5
-40.3
-33.9
-33.8
-34.0
-34.5
-35.2
-36.2
-37.2
-38.0
-38.8
-39.5
-40.0
-40.4
-41.1
-41.7
-42.3
59.2
99.1
60.7
101.1
62.2
103.3
63.7
105.4
65.1
107.5
19
20
Less: Dividends received by government
21
Subsidies less current surplus of government
enterprises.
22
Subsidies
23
Less: Current surplus of government enterprises.. 24
Less: Wage accruals less disbursements
Surplus or deficit (-), national income
and product accounts.
Social insurance funds
Other
42.2
74.6
4.5
-13.1
7
13.8
47.9
82.3
5.5
-13.2
7
13.9
53.8
91.3
6.7
-15.1
7
15.8
59.9
100.2
8.3
-17.5
.7
18.3
44.1
78.0
4.9
-13.7
7
14.4
45.6
79.4
5.1
-13.1
7
13.8
47.2
81.2
5.3
-13.2
.7
13.9
48.7
83.2
5.7
-12.9
7
13.6
50.1
85.3
5.9
-13.6
7
14.3
51.5
87.7
6.3
-14.4
7
15.1
53.0
90.2
6.6
-14.7
7
15.4
54.5
92.5
6.8
-15.5
7
16.2
56.1
94.8
7.1
-15.7
7
.16.5
57.6
97.2
7.5
-16.8
7
17.6
8.2
-17.1
7
17.9
8.5
-17.6
g
18.3
8.8
-18.5
.8
19.3
9.1
-19.0
9.5
-19.6
.8
19.8
.8
20.4
0
25
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
26
65.1
62.8
51.3
49.7
66.3
68.5
61J
63.4
57.8
46.3
60.4
50.5
48.0
50.8
52.4
49.8
45.7
48.8
27
28
51.3
13.8
57.2
5.6
63.7
-12.4
71.1
-21.4
53.9
12.4
54.7
13.8
55.7
5.6
57.4
6.0
60.9
-3.1
60.9
-14.6
62.8
-2.5
64.5
-14.0
66.4
-18.4
68.3
-17.5
70.4
-17.9
72.1
-22.3
73.8
-28.1
75.4
-26.6
77.2
59
SURVEY OF CURRENT BUSINESS
July 1989
Table 3.4.—Personal Tax and Nontax Receipts
Table 3.6.—Contributions for Social Insurance
[Billions of dollars]
[Billions of dollars]
Line
1985
1986
1987
Line
1988
1
4866
5129
5717
5866
2
3464
4058
4130
Income taxes
Withheld
Declarations and settlements
Less: Refunds
3
4
5
6
3393
3054
101 8
679
3614
3535
3195
1074
73 3
3972
327 3
1437
73 8
Estate and gift taxes
Nontaxes .
7
g
65
7
71
8
74
13
4035
343 8
1333
736
79
16
9
1402
1515
1658
1737
10
11
12
13
14
722
26
59
18
16
77 6
3.0
63
19
15
863
34
68
20
16
885
37
71
22
18
15
16
17
18
19
56.2
124
306
49
83
61.2
134
330
55
93
65.8
143
352
61
102
70.3
152
374
67
11 1
Personal tax and nontax receipts
Federal
State and local
.
Income taxes
Estate and gift taxes
Motor vehicle licenses
Property taxes
Other taxes
. ..
Nontaxes
Tuition and related educational charges
Hospital and health charges
Fines
Other
, 1
1986
1987
1988
2107
131.6
103.9
27.7
148.6
118.8
29.7
7
8
9
10
11
25.5
195
55
.2
.3
24.3
182
5.6
.2
.3
23.6
17.8
5.4
.2
.3
23.6
180
5.2
.2
.3
Federal employee retirement
Civilian . .
.
Military
12
13
14
28.9
11.4
17.6
29.7
11.8
17.9
31.2
12.8
18.4
33.3
13.8
19.5
Veterans life insurance
Workers' compensation
Military medical insurance *
15
16
17
.. 18
2.3
0
1.1
.8
2.4
0
1.1
.9
2.5
0
1.2
1.1
2.7
0
1.3
1.2
19
20
21
22
31.9
28.1
.1
37
34.7
30.1
.1
4.4
36.7
31.5
.1
5.0
39.0
33.1
.2
5.7
Unemployment insurance
State tax
Federal tax
Railroad employees
Federal employees
..
.
•.
Old-age, survivors, disability, and hospital insurance
Employees
,
Old-age survivors and disability insurance
Hospital insurance
367.8
3935
50.5
53.8
56.7
Supplementary medical insurance
3
4
5
6
7
346
53
46
52
19.4
305
55
45
4
20 1
31 6
57
46
342
56
45
Federal civilian employee retirement
Railroad retirement
Veterans life insurance
..
213
241
Customs duties .
Nontaxes
8
9
122
83
137
63
154
67
164
61
State and local . . .
10
11
12
13
14
15
16
17
18
19
20
21
22
23
2785
2985
3140
3368
131 0
1090
724
139
31
44
62
48
43
220
154
40
26
1400
1163
773
150
31
46
60
59
45
23 7
166
41
29
1492
1240
824
165
32
47
61
66
45
252
17 8
43
32
1605
1334
896
177
31
48
60
7i
51
27 i
193
44
35
Property taxes
Motor vehicle licenses....
Severance taxes
Other taxes
24
25
26
27
107 1
26
70
117
1146
27
50
13 5
121 3
30
43
15 0
ni o
Nontaxes
Rents and royalties
Special assessments
Fines
Other
28
29
30
31
32
193
126
21
16
29
226
134
23
38
31
21 3
133
25
21
34
224
137
26
24
37
....
31
41
15 6
249.7
191.1
3489
. . . .
444.6
227.8
124.2
98.1
26.0
55.1
Sales taxes
State
General
Gasoline
Liquor
Tobacco
Public utilities
Insurance receipts
Other
Local ....
General
Public utilities
Other
400.8
217.3
182.7
3336
„
379.2
204.8
114.3
91.5
22.7
1
Excise taxes
Liquor..
Tobacco
Windfall profit tax
Other
354.1
1729
2
Indirect business tax and nontax accruals .
Federal
1988
3
Personal contributions
1985
1987
4
5
6
Old-age, survivors, disability, and hospital insurance
Old-age, survivors, and disability insurance
Hospital insurance. .
.
Table 3.5.—Indirect Business Tax and Nontax Accruals
Line
1986
2
Contributions for social insurance
State and local employee retirement
Temporary disability insurance
[Billions of dollars]
1985
State and local social insurance funds
State and local employee retirement
p ary
y
»
149.3
161.9
172.9
194.9
24
25
.... 26
27
28
29
30
31
32
33
34
1380
125.5
114.6
91.8
22.8
109
5.6
3
4.8
1.1
.8
149.5
136.8
124.5
98.3
26.1
12.4
5.7
.3
4.7
1.1
.8
159.6
146.0
131.9
104.1
27.8
14.1
6.7
.3
4.7
1.1
.8
180.6
164.4
148.6
118.8
29.8
15.7
9.4
.4
4.5
1.2
.8
35
36
37
11.3
10.1
1.2
12.4
11.0
1.4
13.3
11.7
1.6
14.3
12.4
1.9
23
1. Consists of payments for medical services for dependents of active duty military personnel
at nonmilitary facilities.
July 1989
SURVEY OF CURRENT BUSINESS
60
Table 3.7B.—Government Purchases of Goods and Services by Type
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
IV
III
II
IV
I
II
III
IV
I
1989
III
II
IV
I
II
1
820.8
872.2
926.1
968.9
856.7
850.3
869.3
880.3
888.9
906.9
916.8
933.2
947.5
945.7
960.1
958.6 1,011.4 1,016.0 1,031.4
2
Government purchases of goods and
services.
355.2
366.5
381.6
381.3
376.6
358.5
368.7
369.9
368.8
375.6
378.2
384.5
388.1
374.1
377.1
367.5
406.4
399.0
403.9
4.... .. 3
4
5
6
7
.
. . »
8
9
10
11
259.1
76.4
11.9
164.8
100.9
67.4
33.5
63.9
6,1
277.8
83.3
11.1
176.8
104.0
70.2
33.8
72.8
6.6
294.8
89.8
10.5
187.3
108.9
73.3
35.6
78.3
7.2
298.0
83.9
10.9
196.1
113.2
76.0
37.2
82.9
7.0
268.6
77.7
11.7
172.9
103.0
69.2
33.7
70.0
6.2
266.8
75.2
12.3
173.2
103.4
69.6
33.8
69.8
6.0
277.1
82.5
11.5
176.8
103.7
70.0
33.7
73.1
6.3
286.5
89.6
10.6
178.9
104.0
70.3
33.7
74.9
7.3
280.7
85.9
9.9
178.3
105.0
70.8
34.2
73.4
6.6
288.0
88.4
9.6
183.2
107.9
72.8
35.1
75.3
6.9
294.0
89.1
10.2
188.0
108.4
72.9
35.5
79.6
6.6
300.2
93.7
10.8
187.9
109.0
73.3
35.7
78.9
7.8
296.8
88.0
11.3
189.9
110.3
74.1
36.2
79.6
7.6
297.4
83.2
10.6
196.9
113.3
76.0
37.4
83.6
6.6
298.0
83.7
11.4
195.5
112.9
75.8
37.1
82.6
7.4
296.1
83.7
10.5
194.7
113.0
76.2
36.9
81.7
7.2
300.5
85.1
11.1
197.4
113.7
76.2
37.6
83.6
7.0
298.7
82.7
10.8
198.8
119.1
79.1
40.0
79.8
6.3
302.4
82.1
12.1
201.4
119.4
79.0
40.4
82.1
6.8
12
13
14
15
96.0
3.9
17.5
11.2
88.7
4.1
11.1
5.4
86.8
4.2
3.2
-3.3
83.3
4.6
-8.2
-15.6
108.0
4.3
29.1
24.2
91.7
4,2
13.6
7.7
91.6
4.2
13.8
7.7
83.4
4.2
5.5
-.4
88.1
3.8
11.5
6.5
87.5
4.0
7.9
1.8
84.2
4.2
.5
-6.8
84.3
4.2
-.1
-6.9
91.3
4.4
4.7
-1.5
76.7
4.3
-10.9
-19.0
79.1
4.9
-12.9
-21.5
71.4
4.4
-19.8
-25.9
105.9
4.9
11.0
4.1
100.4
5.2
3.8
-3.8
101.5
5.1
4.3
-3.0
16
.. 17
18
19
20
6.2
66.0
39.3
26.6
8.7
5.7
65.9
39.5
26.4
7.6
6.6
70.9
42.0
29.0
8.5
7.4
80.0
46.1
33.9
6.8
4.9
67.4
39.5
27.9
7.2
5.9
66.1
39.3
26.8
7.8
6.1
66.0
39.5
26.4
7.6
5.9
66.4
39.6
26.7
7.4
5.0
65.4
39.7
25.7
7.5
6.1
67.6
41.0
26.6
8.1
7.3
70.8
42.0
28.7
8.7
6.8
71.5
42.3
29.3
8.7
6.2
73.8
42.5
31.3
8.4
8.1
76.3
44.7
31.6
7.1
8.5
80.4
45.8
34.7
6.7
6.1
79.7
46.8
32.9
7.1
6.9
83.6
47.1
36.5
6.5
7.6
84.9
49.2
35.7
6.5
7.2
84.8
49.7
35.1
7.4
21
465.6
505.7
544.5
587.6
480.1
491.8
500.6
510.4
520.1
531.4
538.6
548.7
559.4
571.6
583.0
591.0
604.9
617.0
627.5
22
23
24
25
26
27
21.8
40.3
349.8
278.8
71.1
53.7
24.1
39.9
381.1
300.3
80.8
60.6
26.5
43.6
409.8
322.1
87.8
64.6
29.4
46.9
442.1
346.5
95.6
69.3
22.7
41.7
360.4
286.2
74.2
55.3
23.2
41.0
368.9
291.5
77.4
58.6
23.8
39.2
377.1
297.1
80.0
60.4
24.3
39.2
384.7
302.6
82.1
62.2
25.0
40.1
393.6
309.8
83.8
61.3
25.5
42.0
399.1
314.0
85.2
64.7
26.2
43.0
405.9
319.2
86.7
63.5
26.8
44.4
413.5
324.7
88.8
64.1
27.4
45.1
420.8
330.5
90.4
66.0
28.1
45.4
430.1
337.5
92.6
67.9
29.0
46.6
438.2
343.5
94.7
69.2
29.8
47.5
446.0
349.4
96.6
67.7
30.6
48.3
453.9
355.5
98.4
72.2
31.5
50.6
463.2
361.8
101.4
71.6
32.3
52.4
471.4
367.8
103.5
71.4
III
IV
783.0
775.9
806.4
799.7
807.6
Federal
National defense
Durable goods
.
Nondurable goods . . .. .. i
Services
Compensation of employees .
Military
.
Civilian
Other services
Structures
Nondefense
<....
Durable goods
»
Nondurable goods
. .
...»
Commodity Credit Corporation inventory
change.
Services
Other services
Structures
I
1988
1987
1986
1985
»
» ^
State and local
Durable goods
,
Nondurable goods
.
. .
Services '
. ..
Compensation of employees . - . .
•.
Table 3.8B.—Government Purchases of Goods and Services by Type in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
IV
I
n
III
IV
I
n
1989
1988
III
IV
I
II
I
II
,
. . .
National defense
Durable goods
>
Nondurable goods
.
Services
.
..
Compensation of employees
Military
Civilian
Other services
»
Structures
»
1
731.2
761.6
781.8
785.1
752.7
744.1
761.2
765.2
776.0
776.6
774.9
783.5
792.1
2
326.0
334.1
339.6
328.9
340.6
324.4
335.4
334.2
342.4
338.1
334.7
340.7
344.9
323.8
327.9
319.8
343.9
335.5
341.3
3
4
5
6
Government purchases of goods and
services.
Federal
1987
1986
1985
237.2
72.1
13.4
146.2
88.3
59.4
28.9
57.9
5.6
252.1
78.4
15.4
152.7
89.0
60.0
28.9
63.8
5.6
265.2
88.8
14.5
155.9
89.5
60.5
29.0
66.4
6.0
261.5
84.6
14.3
156.9
89.1
60.0
29.1
67.8
5.7
241.4
72.0
13.1
150.8
88.5
59.5
29.0
62.3
5.5
241.2
71.0
14.4
150.6
88.7
59.7
29.0
61.9
5.2
251.4
77.3
15.6
153.1
88.7
59.9
28.9
64.4
5.4
260.0
83.2
16.2
154.4
88.9
60.1
28.8
65.5
6.2
255.8
82.1
15.4
152.7
89.5
60.3
29.1
63.3
5.6
259.0
85.3
14.0
153.9
89.2
60.4
28.8
64.7
5.7
264.6
87.9
13.9
157.2
89.1
60.2
28.9
68.1
5.6
270.6
93.5
14.6
156.1
89.5
60.5
29.0
66.6
6.4
266.7
88.6
15.4
156.4
90.0
60.7
29.2
66.4
6.3
263.0
84.2
14.3
159.0
89.8
60.5
29.3
69.3
5.4
262.5
85.0
14.7
156.8
88.8
59.8
28.9
68.0
6.0
258.8
84.3
13.4
155.4
88.7
59.9
28.7
66.8
5.8
261.6
85.0
14.7
156.4
89.1
59.8
29,3
67.3
5.4
254.4
82.1
13.9
153.5
89.5
59.7
29.8
64.0
4.8
256.1
80.8
15.3
154.9
89.4
59.5
29.9
65.5
5.1
8
9
10
11
775.1
12
13
Durable goods
. . . ..
Nondurable goods .
., 14
Commodity Credit Corporation inventory
15
change.
16
Other nondurables . .. » *
17
Services
... .
*
•
18
Other services
. .
.
. . 19
Structures
20
88.8
4.2
18.4
12.2
82.0
4.6
13.4
7.8
74.4
5.0
2.6
-3.9
67.4
5.4
-8.7
-15.6
99.2
4.7
29.0
24.3
83.3
4.7
13.8
8.0
84.1
4.7
15.3
9.4
74.2
4.8
5.4
-.3
86.6
4.4
19.2
14.2
79.1
4.7
10.2
4.1
70.1
4.9
-1.8
-9.2
70.1
5.0
-2.2
-8.9
78.2
5.2
4.2
-1.7
60.8
5.1
-12.7
-20.6
65.4
5.6
-11 3
-19.6
61.0
5.2
-14.7
-20.1
82.3
5.6
3.9
-2.2
81.1
5.7
3.6
-3.3
85.1
5.6
7.7
1.2
6.2
58.1
34.0
24.1
8.0
5.6
57.1
33.7
23.4
6.9
6.5
59.3
34.2
25.1
7.5
6.9
64.8
36.1
28.7
5.9
4.7
59.0
34.0
25.1
6.6
5.8
57.6
33.7
23.9
7.2
5.8
57.2
33.7
23.5
6.9
5.7
57.4
33.7
23.7
6.7
4.9
56.3
33.7
22.6
6.8
6.1
57.0
33.7
23.3
7.2
7.4
59.2
34.2
25.0
7.8
6.7
59.6
34.3
25.3
7.7
5.9
61.3
34.4
26.9
7.4
8.0
62.2
35.2
27.0
6.2
8.3
65.3
35.9
29.4
5.8
5.4
64.4
36.7
27.7
6.1
6.0
67.4
36.9
30.5
5.5
6.9
66.3
36.9
29.4
5.5
6.5
65.7
37.0
28.7
6.1
21
405.2
427.5
442.1
456.2
412.1
419.6
425.7
430.9
433.6
438.5
440.1
442.8
447.2
451.3
455.1
456.1
462.5
464.2
466.3
22
23
24
25
26
27
20.5
40.6
295.6
235.0
60.6
48.4
22.3
44.3
307.2
240.8
66.3
53.7
24.1
46.2
315.5
246.0
69.5
56.4
26.1
48.6
323.7
250.9
72.8
57.8
21.3
41.8
299.8
237.4
62.4
49.2
21.7
43.1
302.8
238.6
64.2
52.0
22.1
44.1
305.9
240.0
65.9
53.7
22.5
44.8
308.8
241.6
67.1
54.8
22.9
45.3
311.1
243.1
68.0
54.3
23.3
45.5
312.6
244.1
68.5
57.0
23.8
45.9
314.7
245.5
69.1
55.8
24.3
46.3
316.4
246.6
69.8
55.7
24.8
46.9
318.5
247.9
70.6
56.9
25.3
47.7
320.6
249.1
71.6
57.6
25.9
48.4
322.7
250.3
72.4
58.1
26.4
49.0
324.7
251.5
73.2
56.0
26.9
49.5
326.8
252.7
74.1
59.3
27.4
50.1
328.6
253.7
75.0
58.0
27.9
50.7
330.6
254.7
75.8
57.2
State and local
Durable goods
Nondurable goods
Services
.
.
Compensation of employees
Other services
Structures
.. .
.
SURVEY OF CURRENT BUSINESS
July 1989
61
Table 3.9.—National Defense Purchases of Goods and Services
[Billions of dollars]
Seasonally adjusted at annua rates
Line
1985
1986
1987
1988
1985
IV
I
II
III
IV
I
1988
III
II
IV
I
1989
III
II
286.5 280.7 288.0 294.0 300.2 296.8 297.4 298.0 296.1
IV
I
II
300.5 298.7 302.4
1
259.1
2
76.4
83.3
89.8
83.9
77.7
75.2
82.5
89.6
85.9
88.4
89.1
93.7
88.0
83.2
83.7
83.7
85.1
82.7
82.1
3
4
5
6
7
8
9
10
64.5
26.6
9.6
8.4
4.8
4.9
10.1
11.9
71.1
33.0
11.4
8.5
4.7
5.1
8.4
12.2
77.5
33.9
12.7
8.5
4.8
5.8
11.7
12.3
72.9
29.3
12.4
8.4
4.2
6.0
12.5
11.0
66.2
30.0
10.3
8.6
3.9
4.8
8.5
11.5
63.4
28.4
9.7
7.9
4.2
4.7
8.5
11.8
69.9
31.0
11.7
8.9
4.4
5.1
8.7
12.6
77.5
36.1
12.5
9.1
4.6
5.2
10.0
12.2
73.5
36.5
11.6
8.1
5.5
5.4
6.4
12.4
77.2
33.8
12.3
8.4
5.2
5.8
11.7
11.2
76.6
31.7
13.4
9.2
4.9
5.9
11.5
12.5
80.3
35.6
12.7
8.4
4.4
5.9
13.3
13.4
75.9
34.6
12.3
8.2
4.6
5.6
10.5
12.1
71.7
29.8
11.2
8.3
4.5
5.8
12.0
11.5
72.5
29.1
12.5
8.0
4.2
6.0
12.6
11.2
73.0
27.9
12.7
8.1
4.3
5.8
14.2
10.7
74.3
30.5
13.3
9.3
3.7
6.5
10.9
10.7
72.9
27.7
12.9
10.2
3.7
5.9
12.5
9.8
71.0
25.5
12.4
9.8
3.9
6.7
12.8
11.0
••
11
11.9
11.1
10.5
10.9
11.7
12.3
11.5
10.6
9.9
9.6
10.2
10.8
11.3
10.6
11.4
10.5
11.1
10.8
12.1
..
12
13
14
6.5
3.0
2.4
4.3
4.2
2.5
4.2
3.8
2.5
4.4
3.9
2.6
6.4
2.8
2.4
6.3
3.6
2.3
4.1
4.8
2.6
3.5
4.5
2.6
3.3
4.0
2.5
3.4
3.7
2.4
3.8
3.8
2.6
4.3
4.0
2.5
5.2
3.6
2.5
4.3
3.7
2.5
4.4
4.6
2.5
4.3
3.5
2.7
4.7
3.8
2.6
4.6
3.6
2.7
4.7
4.5
2.9
National defense purchases
Durable goods
Aircraft
Missiles
Ships
Vehicles
Electronic equipment
Other
Other durable goods
.....
.
Nondurable goods
Petroleum products
Other nondurable goods
277.8 294.8 298.0 268.6 266.8 277.1
176.8 187.3
196.1 172.9
Compensation of employees
Military
Civilian
Other services
Contractual research and development
..
.
....
Weaoons suoDort2
Personnel support
.
Travel of persons
Other
173.2
178.9 178.3 183.2
188.0
187.9
189.9
196.9
195.5 194.7
197.4
198.8
15
Services
1
1987
1986
164.8
16
17
18
19
20
21
22
23
24
25
26
100.9 104.0 108.9 113.2 103.0 103.4 103.7 104.0 105.0 107.9 108.4 109.0 110.3 113.3 112.9 113.0 113.7 119.1
76.2 76.2
79.1
69.2 69.6 70.0
67.4 70.2 73.3
76.0
70.3 70.8
72.8
72.9 73.3 74.1 76.0 75.8
36.2 37.4 37.1
37.2 33.7 33.8
36.9
37.6 40.0
35.6
33.7
34.2
35.5 35.7
33.5 33.8
33.7
35.1
79.8
83.6
82.6
81.7
83.6
63.9
82.9 70.0 69.8 73.1
72.8 78.3
74.9 73.4 75.3 79.6 78.9 79.6
31.4
29.8
30.3
25.8 28.6 28.5 30.7 28.4 26.3 28.9 30.0
29.3 28.8 29.1 27.6 28.5 30.8 30.2
23.4 23.6 22.3
16.6
18.0
18.8
18.4 20.5 22.8 22.9 22.7 24.2 23.9
19.0 22.2 23.8
19.0
19.9
7.7
8.9
9.1
7.5
8.8
8.9
7.6
7.8
7.7
8.8
8.9
9.0
8.5
9.1
8.9
7.8
8.0
8.5
7.2 10.3
11.3
11.8
9.0
11.8
9.6 10.3
10.7
10.6
10.7
11.1 11.5
11.9
11.7
11.4
11.8
11.9
4.2
3.4
3.2
3.4
3.2
3.8
3.7
3.5
3.1
3.5
3.8
3.8
3.6
3.9
3.8
3.6
3.5
3.5
3.4
3.8
4.0
3.4
3.4
3.4
3.8
4.0
3.7
3.3
3.5
3.5
3.7
3.9
3.9
3.9
3.9
3.8
.1
.1
.1
.2
0
.2
.2
0
-.3
0
.5
-3
.2
.3
0
.2
.5
-3
176.8
201.4
119.4
79.0
40.4
82.1
30.4
22.6
9.0
12.0
3.8
3.9
.3
27
Military facilities
Other
6.1
6.6
7.2
7.0
6.2
6.0
6.3
7.3
6.6
6.9
6.6
7.8
7.6
6.6
7.4
7.2
7.0
6.3
6.8
28
29
Structures
3.5
2.6
4.1
2.4
4.9
2.4
4.7
2.4
3.7
2.5
3.6
2.4
3.8
2.5
4.9
2.4
4.3
2.4
4.4
2.4
4.5
2.2
5.2
2.6
5.3
2.3
4.2
2.4
5.0
2.4
4.9
2.3
4.6
2.4
4.0
2.2
4.5
2.2
1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors to operate installations.
2. Includes depot maintenance and contractual services for weapons systems, other than research and development.
3. Includes compensation of foreign personnel, consulting, training, and education.
Table 3.10.—-National Defense Purchases of Goods and Services in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1985
1987
1986
IV
I
II
265.2 261.5
in
IV
I
II
1989
1988
III
IV
I
II
III
IV
I
II
1
241.4
241.2
251.4
2
72.1
78.4
88.8
84.6
72.0
71.0
77.3
83.2
82.1
85.3
87.9
93.5
88.6
84.2
85.0
84.3
85.0
82.1
80.8
3
4
5
6
7
8
9
10
59.1
22.8
9.0
7.6
5.3
4.7
9.7
13.0
64.1
27.9
11.0
7.5
5.0
4.8
8.0
14.3
73.3
31.6
12.8
7.4
5.1
5.5
10.9
15.5
70.8
29.0
13.5
7.1
4.5
5.6
11.2
13.8
58.7
24.6
9.8
7.7
3.8
4.6
8.3
13.3
57.3
23.8
9.3
7.0
4.6
4.4
8.1
13.8
62.8
25.6
11.5
7.9
4.8
4.8
8.3
14.5
68.9
30.1
11.6
8.0
4.9
4.9
9.4
14.3
67.5
32.2
11.5
7.0
5.7
5.0
6.0
14.6
71.1
29.9
11.9
7.3
5.5
5.4
11.1
14.2
72.0
29.0
13.6
7.9
5.3
5.6
10.6
15.8
76.8
34.2
12.7
7.2
4.8
5.6
12.3
16.7
73.4
33.3
13.1
7.0
4.9
5.3
9.7
15.2
69.6
29.2
12.2
7.1
4.7
5.4
11.0
14.6
71.0
28.4
14.2
6.7
4.6
5.7
11.4
14.1
70.9
27.9
13.6
6.7
4.6
5.4
12.7
13.4
71.8
30.4
14.1
7.8
3.9
6.0
9.7
13.2
69.7
26.6
14.4
8.4
4.0
5.4
10.9
12.4
67.0
24.3
13.4
8.0
4.2
6.0
11.2
13.8
11
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment
.
. .
National defense purchases
Durable goods
13.4
15.4
14.5
14.3
13.1
14.4
15.6
16.2
15.4
14.0
13.9
14.6
15.4
14.3
14.7
13.4
14.7
13.9
15.3
12
13
14
8.2
2.9
2.3
8.5
4.6
2.3
8.3
3.9
2.3
7.9
4.1
2.2
8.2
2.7
2.3
8.2
4.0
2.2
8.1
5.1
2.5
8.9
4.9
2.4
8.8
4.3
2.3
8.1
3.7
2.2
7.7
3.9
2.4
8.2
4.2
2.3
9.2
4.0
2.3
8.1
4.0
2.2
7.8
4.8
2.1
7.3
3.7
2.3
8.6
4.0
2.2
7.8
3.8
2.3
8.1
4.7
2.5
15
146.2
152.7
16
17
18
19
20
21
22
23
24
25
26
88.3
59.4
28.9
57.9
23.2
14.5
6.6
6.5
3.7
3.2
.2
89.0
60.0
28.9
63.8
25.2
15.9
6.8
8.4
3.8
3.4
.2
27
5.6
28
29
3.2
2.4
.
^S^^^^I^^IL^III^
.
n...:.:
Other durable goods
Petroleum products
Ammunition
....
Services
Compensation of employees
Civilian
Other services
Contractual research and development
Installation support '
Weapons support2
Transportation of materiel
Travel of persons
Other
Structures
Military facilities
Other
....
237.2 252.1
155.9
156.9
150.8 150.6
153.1 154.4
89.5
60.5
29.0
66.4
24.8
17.5
7.7
8.7
4.1
3.7
0
89.1
60.0
29.1
67.8
25.5
18.2
7.6
8.9
3.9
3.8
0
88.5
59.5
29.0
62.3
25.2
15.4
6.8
7.7
3.8
3.3
.2
88.7
59.7
29.0
61.9
23.2
16.0
6.7
8.0
4.1
3.4
.4
88.7
59.9
28.9
64.4
25.6
16.0
6.9
8.5
3.5
3.5
.4
5.6
6.0
5.7
5.5
5.2
3.4
2.2
4.0
2.0
3.7
1.9
3.2
2.3
3.0
2.2
152.7
153.9 157.2
88.9
60.1
28.8
65.5
26.5
16.6
6.8
8.7
3.8
3.4
-.2
89.5
60.3
29.1
63.3
25.6
15.0
7.0
8.4
3.8
3.3
.1
89.2
60.4
28.8
64.7
25.3
16.5
7.5
8.4
3.7
3.6
-.3
89.1
60.2
28.9
68.1
25.5
18.1
7.7
8.7
4.1
3.8
.2
5.4
6.2
5.6
5.7
3.1
2.2
4.1
2.1
3.5
2.1
3.6
2.1
1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors to operate installations.
2. Includes depot maintenance and contractual services for weapons systems.
3. Includes compensation of foreign personnel, consulting, training, and education.
260.0 255.8 259.0 264.6 270.6 266.7 263.0 262.5 258.8 261.6
156.1 156.4
159.0
156.8 155.4
89.8
88.8
60.5
59.8
29.3
28.9
68.0
69.3
26.1 25.2
18.6
18.4
7.8
7.7
8.9
9.0
3.6 , 3.8
4.0
3.7
.2
.1
89.5
60.5
29.0
66.6
23.9
17.8
7.8
9.0
4.5
3.7
0
90.0
60.7
29.2
66.4
24.4
17.7
7.6
8.8
3.9
3.8
.1
5.6
6.4
6.3
5.4
3.7
1.8
4.3
2.1
4.4
1.9
3.5
1.9
156.4
254.4 256.1
153.5
154.9
88.7
59.9
28.7
66.8
25.1
17.8
7.3
8.9
4.2
3.7
-.2
89.1
59.8
29.3
67.3
25.7
17.8
7.6
8.6
3.9
3.7
.1
89.5
59.7
29.8
64.0
24.4
16.8
7.4
8.3
3.6
3.4
0
89.4
59.5
29.9
65.5
24.9
16.6
7.5
8.8
3.8
3.6
.3
6.0
5.8
5.4
4.8
5.1
4.1
1.9
3.9
1.9
3.5
1.9
3.0
1.7
3.4
1.7
62
July 1989
SURVEY OF CURRENT BUSINESS
Table 3.11.—Government Transfer Payments to Persons
Table 3.13.—Social Insurance Funds Receipts and Expenditures
[Billions of dollars]
[Billions of dollars]
Line
Benefits from social insurance funds
Old-age survivors and disability insurance
Hospital and supplementary medical insurance
Unemployment insurance
State
Railroad employees
.
.. .
Federal employees
Special unemployment benefits . .
Federal employee retirement
Civilian1
Military2
Railroad retirement
Veterans life insurance
Workers' compensation
Military medical insurance 3
,
.
.
Veterans benefits.
Pension and disability
Readjustment
Other 4
.. .
Food stamp benefits
Black lung benefits
.. .
Supplemental security income
Direct relief .
Earned income credit
Other5.....
.
.
.
.
State and local
1986
1987
1988
4678
496.8
521.5
555.7
2
Government transfer payments to persons
Federal
1985
1
366.7
386.0
401.9
425.4
3
4
5
6
7
g
9
10
11
12
13
14
15
16
17
320.0
1833
70.1
15.8
146
2
.3
8
41.1
23.5
17.6
6.2
16
11
8
338.0
1936
75.6
16.5
160
2
.3
352.8
2010
81.9
14.6
142
1
.3
372.6
2139
86.6
13.1
128
.1
.3
42.2
24.4
17.9
6.4
17
11
9
44.9
26.5
18.4
6.5
17
12
11
48.1
28.6
19.5
6.7
17
13
12
18
19
20
21
150
14.0
9
14.9
14.2
7
14.8
14.2
6
15 1
14.6
5
22
23
24
. 25
26
, 27
28
Benefits from social insurance funds
State and local employee retirement
Temporary disability insurance
Workers' compensation
Public assistance
.
Medical care
Aid to families with dependent children
Supplemental security income
General assistance
Energy assistance
Other 6
Education
Employment and training . .
Other7
.
29
30
31
32
33
34
35
36
37
38
39
40
41
42
106
1.6
95
106
1.5
103
112
15
107
1.1
9.6
1.4
10.1
1.4
10.5
2.7
11.5
303
25.7
1.1
3.5
65 1
412
15.4
2.3
24
2.1
16
35
.9
1.2
110.9
339
28.7
1.3
3.9
70.7
454
16.4
26
25
2.0
17
39
1.0
1.5
119.6
410
34.7
1.6
4.8
821
55.0
17.2
31
27
1.8
23
45
.9
1.8
1. Consists of civil service, foreign service, Public Health Service officers, Tennessee Valley Authority, and
several small retirement programs.
2. Includes the Coast Guard.
3. Consists of payments for medical services for dependents of active duty military personnel at
nonmilitary facilities.
4. Consists of mustering out pay, terminal leave pay, and adjusted compensation benefits.
5. Consists largely of payments to nonprofit institutions, aid to students, and payments for medical services
for retired military personnel and their dependents at nonmilitary facilities.
6. Consists of emergency assistance and medical insurance premium payments paid on behalf of indigents.
7. Consists largely of foster care, veterans benefits, Alaska dividends, and crime victim payments.
1987
1988
1
338.2
362.8
386.3
435.4
310.9
332.1
350.8
391.3
Personal contributions
3
138.0
149.5
159.6
180.6
Employer contributions
Government and government enterprises
Other .
4
5
6
1729
47.4
1255
1827
50.2
1325
191 1
53.4
1377
2107
58.5
1522
7
27.3
307
356
441
8
327.2
345.2
359.9
380.6
9
10
7.2
3200
7.3
3380
7.1
3528
8.0
3726
11
11.0
176
264
548
12
82.8
92.4
102.4
13
43.2
47.1
50.0
Personal contributions
14
11 3
124
13 3
53.3
143
Employer contributions.
. ..
Government and government enterprises
Other
15
16
17
31.9
28.8
3.1
347
31.0
3.7
367
32.4
4.3
390
341
4.9
18
39.6
45.3
52.4
60.4
19
31.5
35.2
38.7
42.6
20
21
1.1
30.3
1.3
339
1.4
373
1.5
410
22
51.3
57.2
63.7
71.1
.
Expenditures
Administrative expenses (purchases of goods and services)
Transfer payments to persons
Surplus or deficit (~)
State and local
Receipts
..
...
Contributions for social insurance
Interest and dividends received
Expenditures
Administrative expenses (purchases of goods and services)
Transfer payments to persons
Surplus or deficit (-)
Table 3.14.—Government Expenditures by Function
[Billions of dollars]
Line
Total
1
1
1985
1986
1987
2
43.9
46.7
51.4
International affairs
3
143
148
135
Space
4
74
71
80
National defense
5
258 8
277 4
2944
6
,
485
545
603
7
Civilian safety
2109
2266
2422
1985
1986
1987
1988
8
597
643
699
Income support, social security, and welfare
Line
1988
1,402.6 1,491 5 1,575 0
Central executive, legislative, and judicial activities
Health and hospitals
[Billions of dollars]
113.7
NOTE.—In this table interest and dividends received is included in receipts; in tables 3.1, 3.3, 3.14, 3.16,
3.18, and 9.4, interest received and dividends received are netted against expenditures.
Education
Table 3.12.—Subsidies Less Current Surplus of Government Enterprises
1986
2
Contributions for social insurance
130.3
373
31.5
1.4
4.3
756
498
16.7
29
26
1.7
19
41
.9
1.6
1985
Federal
Receipts
Interest received
107
1.6
88
101.1
Line
9
4222
446 1
4646
Veterans benefits and services
10
290
295
304
Housing and community services
11
212
236
25 8
Subsidies less current surplus of government enterprises .. 1
7.2
12.8
17.6
18.5
Recreational and cultural activities
12
105
11 7
2
20.3
26.0
32.6
36.0
Energy
13
39
16
128
3
3
4
5
6
7
8
9
10
11
12
13
14
22.2
7.0
13.2
.3
0
1.6
1.9
-1.4
-3.8
.6
21
4.5
26.5
12.0
12.8
.3
0
1.3
.5
-.6
-5.6
.8
2.1
3.8
30.8
16.1
13.1
.3
0
1.4
-1.8
-1.7
-6.3
.4
2.4
3.4
28.9
13.4
13.7
.2
0
1.5
-7.1
-1.3
-9.1
-.3
2.1
1.5
Agriculture
14
326
33 2
28 6
Natural resources
15
95
98
106
Transportation
16
67 0
72 1
Postal service
17
626
25
19
34
Economic development, regulation, and services
18
28
38
46
19
61
62
Federal
Subsidies .
Air carriers
Other1
Less' Current surplus of government enterprises
Postal Service
...
Commodity Credit Corporation
Federal Housing Administration
Tennessee Valley Authority
Other2
State and local
15
.
Subsidies
Less* Current surplus of government enterprises
Gas and electricity
Toll facilities
Liquor stores
Air and water terminals
Housing and urban renewal
Other 3
.
16
17
18
19
20
21
22
23
24
25
-13.1
.7
13.8
5.1
5.3
1.2
.4
1.6
1.1
-5.0
4.0
-13.2
.7
13.9
5.7
5.5
1.3
.4
1.8
.2
-5.7
4.7
-15.1
.7
15.8
5.9
6.2
1.5
.4
2.0
-.2
-5.9
5.7
-17.5
.7
18.3
6.2
6.8
1.7
.4
2.2
-.2
-6.3
7.5
1. Consists largely of subsidies to railroads and mass transit systems.
2. Consists largely of Federal Deposit Insurance Corporation, Federal Savings and Loan Insurance
Corporation, and Bonneville Power Administration.
3. Consists of State lotteries, off-track betting, local parking, and miscellaneous activities.
Labor training and services
Commercial activities
..
63
20
-4.2
-4.8
-5.9
Net interest paid 2.. .
21
1328
141 0
149 8
Other and unallocable
22
272
293
31 6
1. Equals Federal Government expenditures less grants-in-aid to State and local governments plus State and
local government expenditures. Total expenditures include employee compensation on a disbursement basis.
The estimates by function include employee compensation on an accrual basis. Wage accruals less
disbursements (in millions of dollars) is as follows: 1985, -230; 1986, 0; 1987, 0; and 1988, 0.
2. Excludes interest received by State and local social insurance funds, which is netted against expenditures
for the appropriate functions.
63
SURVEY OF CURRENT BUSINESS
July 1989
Table 3.15.—Federal Government Expenditures by Type and Function
[Millions of dollars]
1986
1985
Line
Expenditures1
Subsidies
Subsidies
Grants-inTransfer
Grants-inTransfer
Purchases of payments
aid to State less current
aid to State less current Expenditures1 Purchases of payments
surplus of
goods and
surplus of
goods and
and local
and net
and local
and net
services
services
interest paid governments government
interest paid governments government
enterprises
enterprises
1
985,579
355,176
510,204
99,678
20,291
1,034,757
366,471
535,467
106,798
26,021
2
3
4
5
6
14,117
4,679
5457
2694
1,287
13,528
4,175
5457
2677
1,219
-45
-50
639
559
-5
-5
1,861
232
-7
-7
17
63
13,185
3,615
5720
2678
1,172
108
-44
5
15,147
3,796
5720
2712
2,919
152
34
1,595
Internationa! affairs
Conduct of foreign affairs and informational activities
Foreign economic assistance
7
8
9
14,263
2,453
11,810
2,442
2,393
49
11,843
60
11,783
14,798
2,753
12,045
2,653
2,696
-43
12,171
57
12,114
Space
10
11
12
13
14
15
7,520
7,365
155
7,240
7,124
116
260,324
259,014
330
865
115
259,140
257,925
235
865
115
1,475
1,380
95
279,535
278,370
320
700
145
277,764
276,685
234
700
145
2,113
2,027
86
Civilian safety
Police
Fire
Correction
16
17
18
19
3,169
2,566
45
558
3,352
2635
41
676
1
1
158
53
Education
Elementary and secondary
Higher
General research and other
....
20
21
22
23
16,651
6,472
7,130
3,049
3,067
2538
45
484
1,616
334
282
1,000
6,356
218
5,543
595
8,948
5,953
1,104
1,891
.
24
10,519
6,516
612
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
397,859
208 773
166 769
20,468
15,932
5,604
26,953
19,674
3,516
1,385
693
1,685
18,236
17,015
798
423
95,194
71,995
23,199
45,344
3,359
5,921
1,043
999
341,799
207,730
165 770
20,468
15,932
5,560
25,896
18,657
3,516
1,385
687
1,651
15,774
14,553
798
423
70,125
70,125
1,894
648
20,070
2,204
46
47
48
49
50
51
29,018
14239
942
1 594
10,687
1 556
10,430
18,448
14239
914
1 593
1,567
135
146
28
1
8,997
1404
Housing and community services
Urban CT
renewal and community development
Housin
Water and sewerage
.
..
52
53
54
55
1,174
372
802
83
16
67
7,247
4 114
200
2,933
Recreational and cultural activities
56
19,097
4502
11 662
2,933
1,657
1,138
326
193
57
58
59
60
6,291
6,890
-1,448
849
8,395
6214
1,332
849
61
62
63
64
65
30,605
24,316
2,964
923
2,402
66
6,452
16,841
13,676
797
584
1,784
5,134
67
68
69
70
71
72
26,525
13477
4267
4,417
968
3,396
8,078
265
3933
3,607
222
51
3
73
2,461
1,085
74
75
76
77
-653
1,229
404
-2286
1,883
595
404
884
78
79
80
4,767
3,721
1046
1,416
637
779
.
81
130,137
. . .
82
4,570
Total '
Central executive, legislative, and judicial activities
Central administration and management
Legislative and Judicial activities °
Other
.
.
.
..
...
National defense
Military activities
Civil defense
.
Other
.
Health and hospitals
Income support, social security, and welfare
Retirement
Government employees, civilian
Government employees, military
Railroad
Disability
Disability insurance (social security)
Government employees, civilian
Government employees, military
Railroad
Other
Unemployment insurance
...,
Regular
Extended
Other
Medical care
Hospital and supplementary medical insurance (Medicare)
Medicaid
Welfare and social services
Other
Veterans benefits and services
Education
Insurance
Hospitals and medical care
Other
Energy
Conservation and development of energy sources
Production and sale of power
Administration and regulation
Agriculture
Stabilization of farm prices and income
Financina farm ownership and utilities
,
.
Other
Natural resources
. .
Transportation
Highways
Water
Air
Railroad
Transit
.
.
Postal service
Economic development, regulation, and services
Economic development assistance ..
Regulation of commerce and finance
Other
Labor training and services
Training programs
Other
.
.
.
.
.
. .
Net interest paid
Revenue sharing
. .
.
44
373
333
6
34
93
93
1,870
1,870
-22
-22
-26
1
1
101
27
74
3,511
2689
41
781
6,483
185
5,793
505
8,552
5,953
1,055
1,544
17,038
6,499
6,932
3,607
1,734
328
285
1,121
3,391
11,292
7,073
680
420,549
219587
176 170
21,426
16,254
5,737
27,907
20,738
3,409
1,375
709
1,676
19,083
18,427
126
530
102,920
77,365
25,555
47,285
3,767
5,726
1025
973
54,256
1,812
1,812
360,567
218562
175 197
21,426
16,254
5,685
26,789
19,661
3,409
1,375
703
1,641
16,489
15,833
126
530
75,553
75,553
1,813
616
20,634
2,540
29,570
14382
712
1 702
11,376
1 398
10,704
18,707
14382
703
1 701
1,779
142
165
9
1
9,467
1 ^27
19,390
397?
12488
2980
1,624
946
1 378
319
18
^01
7,544
3658
906
2980
1,764
1,144
472
-342
-342
3,539
50,139
148
684
684
2,369
2,369
23,199
23,199
23,380
507
123
23
-6
-6
10,593
10,593
52
365
324
6
35
95
95
898
676
222
-3,002
-3,002
4,604
4344
-515
775
33
851
7
166
93
592
12880
10640
1994
246
31,215
25035
2916
847
2417
10541
7 621
640
569
1 711
2
6,200
4,812
16,548
13 212
14
797
32
2,493
1896
317
13
714
852
26644
13739
3965
4727
893
3320
8010
290
3686
3 824
166
44
1,376
1,935
-3,168
4
2
-3 172
-109
1,154
411
-1674
1,867
606
411
850
2,832
2,603
229
38
4,857
3945
912
1,436
690
746
753
753
2,499
2,499
25,555
25,555
24838
611
130
35
1,335
632
630
105
6,381
3 513
2093
775
26
1,316
3
481
481
130,137
7
-291
-291
-26
38
135,581
4,563
3,996
1,054
831
223
35
928
7
157
93
678
28
1,386
2
2
17030
13 449
22
901
21
2637
-6
9,903
9903
-2,831
—2 831
19711
17 414
2 112
185
2
1 602
255
2
706
639
600
550
548
2
468
468
-2526
_? 526
3012
2787
225
-59
135,581
6
-6
3,990
-59
SURVEY OF CURRENT BUSINESS
64
July 1989
Table 3.15.—Federal Government Expenditures by Type and Function—Continued
[Millions of dollars]
1988
1987
Line
Expenditures1
Subsidies
Subsidies
Transfer
Grants-inTransfer
Grants-inPurchases of payments
Purchases of payments
aid to State less current
aid to State less current Expenditures1 goods and
surplus of
surplus of
goods and
and local
and local
and net
and net
services
government
services
interest paid governments government
interest paid governments enterprises
enterprises
1
1,072,797
381,599
555,948
102,614
32,636
1,118,277
381,301
589,638
111,361
35,977
2
3
4
5
6
15,816
4,740
6,407
3,087
1,582
15,073
4,149
6,407
3,032
1,485
-5
-28
759
630
-11
-11
1,026
850
-11
-11
55
74
15,950
3,522
7,296
3.271
1,861
150
-29
23
17,115
4,332
7,296
3,359
2,128
179
88
88
International affairs
....
. .
Conduct of foreign affairs and informational activities
Foreign economic assistance
.
7
8
9
13,476
2,893
10,583
2,803
2,822
-19
10,701
71
10,630
14,150
3,190
10,960
3,056
3,116
-60
11,121
74
11,047
Space
10
8,124
7,981
143
9,352
9,175
177
National defense
Military activities
Civil defense
Foreign military assistance
Other
11
12
13
14
15
296,583
295,964
259
480
-120
294,754
294,204
190
480
-120
2,163
2,094
69
299,984
298,880
319
768
17
298,001
296,980
236
768
17
2,329
2,246
83
16
17
18
19
4,177
3,268
35
874
3,960
3,181
35
744
1
1
216
86
4,780
3,807
51
922
1
1
316
137
130
5,097
3,945
51
1,101
Education
Elementary and secondary
Higher
General research and other
20
21
22
23
16,917
6,087
7,009
3,821
1,881
412
304
1,165
6,555
211
5,696
648
8,481
5,464
1,009
2,008
18,775
7,319
7,582
3,874
1,839
376
276
1,187
7,075
216
6,259
600
9,861
6,727
1,047
2,087
Health and hospitals
24
12,631
8,082
717
3,832
14,127
9,060
787
4,280
Income support, social security, and welfare
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
438,825
229,211
183,014
23,620
16,725
5,852
28,658
21,433
3,363
1,415
724
1,723
17,212
16,616
71
525
111,418
83,591
27,827
48,550
3,776
5,990
1,137
1,082
376,119
228,074
181,932
23,620
16,725
5,797
27,420
20,321
3,363
1,415
717
1,604
14,696
14,100
71
525
81,859
81,859
56,716
6,468
1,160
1,103
62,078
2,214
2,214
398,185
243,100
193,911
25,452
17733
6,004
28,732
21,295
3626
1,501
742
1,568
13,237
12,759
9
469
86,600
86,600
1,950
646
21,471
2,599
466,731
244,260
195,014
25,452
17733
6,061
29,869
22,460
3,626
1,501
749
1,533
15,895
15,417
9
469
120,295
88,814
31,481
51,236
5,176
1,937
111
22,538
3,978
46
47
48
49
50
51
30,398
14,390
609
1,694
12,303
1,402
11,317
18,926
14,390
571
1,693
2,141
131
161
31,586
14,790
560
1,718
13,066
1,452
11,751
39
1
10,412
1,299
19,653
14,790
521
1,717
2,496
129
188
38
1
10,021
1,257
52
53
54
55
19,860
3,579
13,567
2,714
1,612
189
1,423
352
22
330
6,978
3,368
896
2,714
21,590
3,729
15,469
2,392
2,089
124
1,965
321
41
280
6,780
3,564
824
2,392
390
416
Total '
. . .
Central executive, legislative, and judicial activities
Tax collection and financial management
Legislative and judicial activities
Other
..
....
.. .
Civilian safety
Police
. ..
Correction
Old awe and survivors insurance (social
Government etrrolovees civilian
Government employees' military
Railroad
Disability
Disability insurance (social security)
Government employees civilian
..
Government employees military
.
Railroad
Other
Unemployment insurance
.
Regular
Extended
Other
.
Medical care
..
security)
..
. .
.
.
.
.
.
.
Medicaid
Welfare and social services
Other
Veterans benefits and services
Disability and survivors compensation
Education
Insurance
Hospitals and medical care
Other
. . .
. . . .
Housing and community services
.
Urban renewal and community development
Water and sewerage
. .
55
487
361
7
119
38
38
1,732
1,732
56
1,731
1,207
57
58
59
60
4,704
4,851
-947
800
6,840
4,053
1,987
800
A riculture
Stabilization of farm prices and income
Financing farm ownership and utilities
Conservation of agricultural resources
Other
61
62
63
64
65
26,361
20,387
2,627
846
2,501
1,257
-1,835
745
559
1,788
Natural resources
66
6,542
5,200
Transportation
Highways
Water
Air
67
68
69
70
71
72
26,424
13,252
4,246
4,872
715
3,339
8,524
353
3,977
4,019
130
45
Postal service
73
3,393
74
75
76
77
297
1,164
426
-1,293
2,004
631
426
947
78
79
80
4,773
3,868
905
1,463
647
816
Net interest paid
81
141,687
Revenue sharing
82
78
Recreational and cultural activities
Energy
Conservation and development of energy sources
Production and sale of power
.
,
Transit
Labor training and services
Traininc proarams
Other
. . .
...
2,478
2,478
27,827
27,827
25,129
531
141
20
-6
-6
10,918
10,918
134
1,312
24,164
22,222
1,730
212
15,564
8,091
2,419
2,381
2,673
-9,600
-12,747
655
612
1,880
1
7,003
5,446
28,253
14,259
4,579
5,276
776
3,363
9,218
338
4,315
4,401
122
42
908
5
147
75
686
-3,149
2,952
-2,242
2,738
1,207
414
1,117
-49
4,645
3,876
769
1,601
723
878
243
17
561
806
-49
151,406
-346
-346
797
797
2,613
2,613
31,481
31,481
26,761
426
158
30
-6
-6
12,400
12,400
110
1,016
787
229
-2,847
36
977
24,151
20,838
1,625
1,688
36
139
81
757
1,555
2,258
671
414
1,173
2,888
2,750
138
-27
1,695
-2,242
2
471
471
1,627
1,745
2
16,271
12,899
24
836
24
2,488
535
533
2
-27
179
7,202
4,489
2,088
625
32
1,341
7
-35
45
45
1,838
-3,149
27
57
340
368
5,371
5,276
-530
625
1,013
798
215
141,687
3
-334
-334
751
751
1,648
Economic development, regulation, and services
Economic development assistance
Regulation of commerce and finance
Other
-28
-28
3
3
17,281
13,921
29
848
18
2,465
-2,847
2
1,751
232
27
636
856
1,257
538
536
2
484
484
2,849
2,669
180
-58
-58
-289
-289
151,406
75
1. Total expenditures include employee compensation on a disbursement basis. Expenditures by type and function include employee compensation on an accrual basis. Wage accruals less disbursements (in millions of
dollars) is as follows: 1985, -230; 1986, 0; 1987, 0; and 1988, 0.
65
SURVEY OF CURRENT BUSINESS
July 1989
Table 3.16.—State and Local Government Expenditures by Type and Function
[Millions of dollars]
1985
Line
Total1
1986
Expenditures1
Purchases of
goods and
services
Transfer
payments and
net interest
paid less
dividends
Subsidies less
current
surplus of
government
enterprises
Expenditures1
Purchases of
goods and
services
Transfer
payments and
net interest
paid less
dividends
Subsidies less
current
surplus of
government
enterprises
-13,082
563,529
505,726
70,986
-13,183
33,410
17,042
16,368
33,000
17,042
15,958
410
51,150
24,254
10,447
16,449
51,115
24,254
10,447
16,414
35
218,533
153,450
52,676
3,214
9,193
214,652
153,450
52,676
3,214
5,312
56,315
16,559
39,756
253
19,749
730
567
1
516,662
465,575
64,169
2
3
4
30,448
15,504
14,944
30,108
15,504
14,604
340
. . . . 5
6
7
... .
. . . . . 8
45,459
22,189
9,289
13,981
45,427
22,189
9,289
13,949
32
9
10
11
12
13
202,822
142,271
49,095
2,920
8,536
199,278
142,271
49,095
2,920
4,992
3,544
14
15
16
52,609
14,934
37,675
52,366
14,934
37,432
243
243
56,568
16,559
40,009
17
18
19
. ... 20
21
74,522
-11,411
3,303
41,806
40,824
18,073
640
507
16,926
56,449
-12,051
2,796
41,806
23,898
79,779
-13,980
3,849
46,014
43,896
18,452
60,030
-14,710
3,282
46,014
25,444
Veterans benefits and services
22
133
123
10
144
132
12
Housing and community services
23
24
25
26
27
9,384
232
-595
6,067
3,680
15,569
1,359
3,218
7,312
3,680
-6,185
-1,127
-3,813
-1,245
11,763
1,080
-111
6,877
3,917
17,585
1,242
4,099
8,327
3,917
10,069
10,069
-5,290
-344
-4,946
-1,997
-286
-1,711
3,494
56
3,438
Centra] executive, legislative, and judicial activities
Administrative legislative and judicial activities
Tax collection and financial management
Civilian safety
Police
Fire
.
Correction
.
.
.
.
.
Education
Elementary and secondary
Higher
Libraries
Other
.
..
Health and hospitals
Health
Hospitals
Income support, social security, and welfare
Government employees retirement and disability
Workers' compensation and temporary disability insurance
Medical care
.
.
Welfare a n d social services
. . . .
.
Water
Sewerase
"v . .5
340
32
3,544
Recreational and cultural activities
28
9,026
9,026
Energy
Gas utilities
Electric utilities
29
30
31
-1,484
-286
-1,198
3,806
58
3,748
Agriculture
32
2,829
2,829
2,950
33
4,400
4,400
5,002
34
35
36
37
38
52,649
43,611
92
231
8,715
49,822
44,836
452
1,515
3,019
57,379
46,962
80
433
9,904
3,412
-4,789
-385
-4,874
470
-5,822
-162
-4,210
-1,450
4,508
4,362
253
54,145
48,307
471
1,858
3,509
4,508
3,881
5,002
Transportation
Highways
Water
Air
Transit and railroad
35
3,881
2,950
Natural resources
410
315
48
,
Commercial activities
.
Publicly owned liquor store systems
Government-administered lotteries and parimutuels
Other
Net interest paid 2
Other and unallocable
.
.
39
4,058
4,058
40
Economic development, regulation, and services...
Labor training and services
4,163
3,233
41
42
43
44
-4,165
-390
-4,220
445
269
36
45
2,621
46
27,188
2,827
-1,225
-360
-1,284
5,696
930
^1,434
-426
-4,220
212
233
2,621
27,188
3,234
-1,345
391
-1,425
6,395
950
-5,104
-433
-4,874
203
267
5,415
29,283
-5,491
-342
-5,149
5,415
29,283
66
SURVEY OF CURRENT BUSINESS
July 1989
Table 3.16.—State and Local Government Expenditures by Type and Function—Continued
[Millions of dollars]
198 7
Line
Expenditures1
Purchases of
goods and
services
19* 8
Transfer
payments and
net interest
paid less
dividends
1
604,810
544,514
75,361
36,356
18581
17,775
35,870
18 581
17,289
56,325
26428
11334
18563
56,285
26428
11,334
18523
9
10
11
12
13
233,808
164,411
56,081
3,517
9,799
229,660
164,411
56,081
3,517
5,651
14
15
16
61,107
18256
42851
60,845
18256
42,589
17
18
19
20
21
82,534
-17,952
4,290
50,430
45,766
21,183
820
605
19,758
61,351
-18,772
3,685
50,430
26,008
Veterans benefits and services
22
157
143
14
Housing and community services
Housing community development and urban renewal
Water
Sewerage
..
Sanitation
.
23
24
25
26
27
12,963
1,227
41
7,677
4,018
18,735
1,050
4,484
9,183
4,018
Recreational and cultural activities
28
11,252
11,252
Energy
Gas utilities
Electric utilities
29
30
31
-3,436
-321
-3,115
2,760
41
2,719
Subsidies less
current
surplus of
government
enterprises
262
Income support, social security, and welfare
Government employees retirement and disability
Workers' compensation and temporary disability insurance
Medical care
Welfare and social services
Transfer
payments and
net interest
paid less
dividends
4,148
Health and hospitals
Health
Hospitals
Purchases of
goods and
services
40
Education
Elementary and secondary
Higher
Libraries
Other
Expenditures1
486
Civilian safety
Police
Fire
Correction
2
3
4
5
6
7
8
Subsidies less
current
surplus of
government
enterprises
3,194
Total '
Central executive legislative) and judicial activities
Administrative legislative and judicial activities
Tax collection and financial management
32
3,194
Natural resources
33
5,412
34
35
36
37
38
61,978
51 044
179
153
10602
39
4,833
40
4,462
3,548
41
42
43
44
-5,852
-393
-5935
476
45
8,146
Other and unallocable
46
31,571
262
-5,772
177
-4443
-1,506
-6,196
-362
-5,834
324
42
Net interest paid 2
4,148
4,833
Labor training and services
40
58,899
52580
583
1 750
3986
Economic development, regulation, and services
486
5,412
Transportation
-15,065
Agriculture
.
.
.
Water
Air
Transit and railroad
..
.
Commercial activities
Government-administered lotteries and parimutuels
Other
3,079
-1 536
-404
-1 597
6616
914
-6,176
-435
-5 935
194
282
8,146
31,571
1. Total expenditures include employee compensation on a disbursement basis. Expenditures by type and function include employee compensation on an accrual basis. Wage accruals less disbursements in 1985, 1986, and
1987 is zero.
2. Excludes interest received by social insurance funds, which is netted against expenditures for the appropriate functions.
67
SURVEY OF CURRENT BUSINESS
July 1989
Table 3.17B.—Relation of Federal Government Receipts and Expenditures in the National Income and Product Accounts to the Unified Budget, Fiscal Years
[Billions of dollars]
Calendar quarters not seasonally adjusted
Line
1985
1986
1987
1985
1988
II
I
1988
1987
1986
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
Receipts
1
Unified budget receipts
Less: Coverage differences '
Financial transactions . . ..« *
>
•
4
734.1
177.2
179.6
214.7
197.5
190.0
193.7
2
3
1.2
0
1.5
0
1.6
0
1.6
0
.4
0
.4
0
.3
0
.3
0
.3
0
.6
0
.3
0
.5
0
.4
0
.5
0
.3
0
.4
0
.4
0
.5
0
.4
0
.4
0
32.3
14.6
33.7
12.6
35.4
13.9
38.6
16.2
8.1
3.3
8.2
4.6
8.2
3.3
8.3
3.0
8.3
3.3
8.5
3.2
8.5
3.1
8.7
3.3
8.7
3.6
9.0
3.6
9.0
3.4
9.5
4.3
9.5
3.6
9.9
4.6
9.8
3.7
9.6
4.0
-2.9
0
.6
.6
.5
1.2
-2.1
-1.7
-.1
-2.1
-.7
1.1
.4
7.7
3.1
-5.6
-5.1
.4
2.7
-1.5
-.1
-.2
-.8
-2.1
2.5
7.8
1.5
-3.0
-4.5
.9
1.4
-1.9
.8
-.2
-1.0
-2.8
-.1
7.1
1.6
-1.5
-4.6
.3
-.4
-3.3
.8
-1.0
-.9
-2.9
3.1
7.6
2.4
-6.9
-4.7
.4
2.7
-2.7
1.1
-.7
0
0
-1.4
.4
0
-.8
.1
0
-2.1
.3
0
.2
.1
-.1
-1
-.3
.1
-.5
.1
0
-.5
.1
0
-.5
.1
0
-2
-.1
0
-.1
.3
0
-.5
.3
0
-3
.3
0
.2
-.7
0
-.2
.2
0
-1.4
-.4
0
.6
.8
0
0
-.3
0
-1.3
.1
0
-.9
.1
0
241.0
225.5
Plus: Netting differences:
Contributions to government employee retirement funds .. 4
5
Other2
Timing differences:
6
7
Federal and State unemployment insurance taxes
8
Withheld personal income tax and social security
contributions.
9
Excise taxes
10
Other
11
Miscellaneous 3
.
Equals: Federal Government receipts, national income and
product accounts.
769.1
854.1
909.0 174.1
897.3 958.6 196.5
206.6 187.2
208.3 199.1
202.3 218.8
209.3 197.5
12
776.8 815.2
13
936.8 989.8 1,002.3 1,064.1 229.8 234.0 234.5 252.4 240.9 245.2 251.4
184.8
253.5 216.8
204.9 207.1
214.2 259.4 226.2 211.6
269.2 227.8 221.9
234.2 271.7
-2.6
-1.0
-5.2
Expenditures
Unified budget outlays
.
»
Less: Coverage differences:
Geographic4
,
Other5
Financial transactions:
Net lending
>«
.
Net purchases of foreign currency
Other
Net purchases of land:
Outer Continental Shelf... »
Other
Plus: Netting differences:
Contributions to government employee retirement funds ..
Other2
.
Timing differences:
Purchases of goods and services (increase in payables
net of advances).
5.4
-1.6
5.4
-1.3
5.5
.2
1.3
-2.8
1.3
-4.4
1.4
-2.5
1.4
.1
1.3
.1
1.3
-1.9
1.4
.1
1.4
-1.5
1.3
.1
1.4
.1
1.4
.1
1.3
0
1.4
0
1.4
.1
1.4
0
1.5
0
16
17
18
28.0
0
-2.3
14.0
0
-3.2
-.6
0
2.3
3.4
0
9.6
7.4
0
-1.0
8.6
0
-.4
3.0
0
-.8
.9
0
-.8
3.9
0
-1.5
2.8
0
-.5
6.1
0
-.3
0
0
1.4
1.3
0
1.5
1.0
0
.1
-2.9
0
-.6
1.0
0
-2.4
2.1
0
3.2
2.1
0
1.9
-1.8
0
6.9
-1.5
0
8.1
19
20
-1.9
.2
-2.1
.2
-1.6
.2
-1.3
1.2
0
.1
-.1
0
-1.2
.1
-.1
0
0
0
0
0
-1.2
.1
-.1
.1
-.1
0
-.2
.1
-.2
0
0
0
-.4
1.0
-.6
.1
-.2
0
21
22
32.3
14.6
33.7
12.6
35.4
13.9
38.6
16.2
8.1
3.3
8.2
4.6
8.2
3.3
8.3
3.0
8.3
3.0
8.5
3.2
8.5
3.1
8.7
3.3
8.7
3.6
9.0
3.6
9.0
3.4
9.5
4.3
9.5
3.6
9.9
4.6
9.8
3.7
9.6
4.0
4.0
1.2
3.5
-.3
19.7
-1.4
.2
.3
0
-.6
.4
-.8
-.9
-1.9
.1
-.5
2.8
7.9
7.2
-.7
-.4
.7
.1
-1.1
.4
3.0
-.6
-.3
2.8
3.4
-.5
-.4
-6
-3.7
1.1
28
0
0
2.2
.8
.1
-1.9
0
0
-.9
-.6
-.1
1.0
2.5
1.1
1.7
1.1
-.1
-.5
-1.3
0
-.4
.8
.6
-.1
-.7
-2.0
1.5
-.1
-.6
2.2
1.0
-.2
.1
-.1
1.1
.2
.2
-.6
-.2
-1.0
-2.0
2.8
-.1
.8
2.2
1.5
-.1
-.1
.4
1.0
-.2
962.3 1,028.0 1,060.4 1,104.0 239.3 239.8 246.2 260.3 250.8 259.0 257.9 267.1
4.1
-1.4
.4
0
2.3 -19.4
-2.0
.2
-.1
.4
-4.0
.9
-.4
2.0
0
265.5 263.4 264.4 279.5 274.0 278.0 272.5 293.7
largely of contributions for social insurance by residents of U.S. territories and Puerto Rico.
largely of proprietary receipts that are netted against outlays in the unified budget, and classified as receipts in the national income and product accounts.
largely of Treasury receipts from sales of foreign currencies to Government agencies.
largely of transfer payments, subsidies, and grants-in-aid to residents of U.S. territories and Puerto Rico.
of agencies not included in the unified budget, such as the Postal Service and the Federal Financing Bank, and net purchases of silver and minor coin metal.
largely of net expenditures of foreign currencies.
245.4 285.3 245.6 268.2 264.9 289.4
5.3
-8.7
23
1. Consists
2. Consists
3. Consists
4. Consists
5. Consists
6. Consists
251.2
14
15
24
Transfer payments
.
.
• * 25
Subsidies less current surplus of government enterprises- 26
27
Equals: Federal Government expenditures, national income
and product accounts.
254.4 251.4
68
SURVEY OF CURRENT BUSINESS
July 1989
Table 3.18.—Relation of State and Local Government Receipts and Expenditures in the National Income and Product Accounts to Bureau of Census
Government Finances Data, Fiscal Years
Table 3.19.—Relation of Commodity Credit Corporation Expenditures in the
National Income and Product Accounts to Commodity Credit Corporation
Outlays in the Unified Budget
[Billions of dollars]
[Billions of dollars]
1985
1986
1987
1
Less: Coverage differences:
Unemployment insurance fund contributions and earnings
Certain grant programs
Financial transactions 2
Sale of land
Netting and grossing differences:
Enterprise current operating expenditures plus current surplus....
Government sales
Interest received
Employer contributions to own social insurance funds
Dividends received
Medical vendor payments to public hospitals
720.1
2
3
17.6
34
18.3
9
18.9
37
23
3
125
3
169
7
74.1
168
79.7
18 2
83.4
197
4
5
6
7
3
9
10
11
649
783.3 842.6
737
794
-18 1 -18 8 -200
40
-59
50
-74
61
-82
Plus: Timing differences:
12
13
14
15
Property taxes
Corporate profits taxes
Other
Miscellaneous
Equals: State and local government receipts, national income and
product accounts.
o
4
-7
-16
-.1
l
.
. .
3
27
-2
18
2
16
557.7 604.6 642.8
17
658.0 7174 7753
Less: Coverage differences:
Unemployment insurance fund benefits paid . .
Purchases of land
Netting and grossing differences:
Enterprise current operating expenditures plus current surplus....
Government sales
Interest received
. .
Employer contributions to own social insurance funds
Dividends received
Medical vendor payments to public hospitals .
Plus: Timing differences:
Excess of accruals over disbursements and other
Miscellaneous
Equals: State and local government expenditures, national income
and product accounts.
18
19
150
34
149
41
152
46
20
21
22
23
24
25
74.1
79.7
83.4
168
649
182
197
-59
-74
-82
-9 1
-96 -109
5
5
26
27
28
73 7 794
-18.1 -18.8 -20.0
40
61
50
5
495.2 538.9 584.7
1. The Bureau of the Census measures of State and local government receipts and expenditures (lines 1 and
17) represent a combination of fiscal years. Virtually all States and many localities use July 1-June 30 fiscal
years; the rest use varying fiscal years. The national income and product account measures shown in this
table are for the fiscal year ending June 30. The differences that arise from restating the Census data to a
year ending June 30 are included in lines 12, 13, and 14 (receipts) and line 26 (expenditures).
2. Beginning in 1985, includes capital gains, net of losses, of State and local government retirement
systems of $.7 billion in 1985, $8.3 billion in 1986, and $12.7 billion in 1987.
23.8
22.8
21.2
Less* Financial transactions
Netting differences
Timing differences
Other '
2
3
4
5
1.1
-2
-.9
-.1
.2
-.4
-.9
0
.7
-.3
.3
o
9.4
0
0
2.6
0
6
23.8
24.0
20.5
6.8
7
12.7
11.2
68
. .
;
Equals: Commodity Credit Corporation expenditures, national
income and product accounts.
Purchases of goods and services
Chanae in inventories
Other purchases
Transfer payments to foreigners
Grants-in-aid to State and local governments
Subsidies less current surplus
Subsidies
Less* Current surplus
-1 4
13
Expenditures
Census total expenditures
1986
1
Line
1988
Receipts
Census total revenue '
1985
Commodity Credit Corporation outlays in the unified budget
Line
1. Consists largely of foreign currency transactions.
...
8
9
10
11
12
13
14
.... 15
1.4
1.2
0
-.8
10.6
5.4
1.4
.8
.1
-1.1
17.4
1987
1988
-19 -14.1
-3.3 -15.6
1.4
.9
0
-7
1.5
.7
.1
-.7
22.2
20.8
11.7
-9.1
68
118
159
-3.8
-5.6
-6.3
69
SURVEY OF CURRENT BUSINESS
July 1989
4. Foreign Transactions
Table 4.1.—Foreign Transactions in the National Income and Product Accounts
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1985
I
IV
II
1988
1987
III
IV
I
III
II
IV
I
1989
III
II
IV
I
II
1
2
»
370.9
396.5
448.6
547.7
369.2
395.5
390.7
397.3
402.4
416.5
437.4
458.0
482.6
521.6
532.5
556.8
579.7
605.6
625.2
2
3
4
5
. 6
7
8
Receipts from foreigners '
Merchandise
Durable goods 2
Nondurable "'oods
Services '
Factor income 3 4
Other s
1986
370.9
220.8
135.4
85.4
150.1
89.7
60.5
396.5
224.4
140.3
84.1
172.0
87.1
84.9
448.6
255.1
158.5
96.6
193.5
96.6
97.0
547.7
322.0
202.2
119.7
225.7
116.7
108.9
369.2
217.7
133.9
83.7
151.5
90.2
61.3
395.5
221.2
138.3
82.8
174.4
91.4
83.0
390.7
221.4
142.6
78.8
169.2
87.5
81.7
397.3
224.8
143.5
81.3
172.5
85.9
86.5
402.4
230.4
146.5
84.0
172.0
83.5
88.5
416.5
234.2
148.7
85.4
182.3
89.0
93.3
437.4
245.4
154.3
91.2
192.0
94.5
97.5
458.0
261.9
164.9
97.0
196.1
98.1
98.0
482.6
278.9
179.3
99.5
203.7
104.7
99.0
521.6
305.0
196.1
108.9
216.6
112.1
104.5
532.5
314.4
201.4
113.0
218.1
111.3
106.9
556.8
327.5
208.5
119.0
229.3
118.1
111.2
579.7
341.0
221.3
119.7
238.6
125.5
113.2
605.6
358.7
231.4
127.2
246.9
131.9
115.1
625.2
370.9
238.4
132.5
254.3
136.9
117.4
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Payments to foreigners 6
10
370.9
396.5
448.6
547.7
369.2
395.5
390.7
397.3
402.4
416.5
437.4
458.0
482.6
521.6
532.5
556.8
579.7
605.6
625.2
Imports of goods and services 6
Merchandise 2. ..
.
.
Durable goods 2
Nondurable goods
Services 6
Factor7 income3
Other
11
12
13
14
15
16
17
448.9
340.9
204.4
136.5
108.0
48.9
59.1
493.8
367.8
238.8
129.0
126.1
52.7
73.4
561.2
412.4
264.2
148.3
148.8
66.1
82.7
621.3
449.0
294.5
154.5
172.3
83.4
88.9
472.4
361.4
214.9
146.5
111.0
48.2
62.8
482.7
357.1
223.3
133.8
125.5
51.0
74.5
483.4
359.1
236.0
123.1
124.2
55.2
69.0
498.0
373.1
245.7
127.4
124.9
50.3
74.6
511.3
381.8
250.1
131.7
129.5
54.1
75.4
522.5
386.8
250.6
136.2
135.6
57.0
78.6
551.8
403.5
259.3
144.3
148,3
65.5
82.7
573.4
422.4
265.8
156.6
150.9
68.4
82.5
597.2
436.9
281.0
156.0
160.2
73.2
87.0
604.3
439.0
284.6
154.4
165.3
75.6
89.7
607.5
439.5
286.9
152.6
168.0
81.3
86.7
623.0
448.8
294.0
154.8
174.2
85.9
88.3
650.5
468.8
312.6
156.3
181.6
91.0
90.6
659.6
469.8
309.6
160.3
189.8
97.3
92.5
677.5
479.8
307.1
172.7
197.8
101.3
96.5
Transfer payments (net)
From persons (net)
From government (net)
18
19
20
15.1
1.7
13.4
15.9
1.9
13.9
14.3
1.9
12.4
14.7
1.9
12.9
16.9
1.4
15.5
12.3
2.0
10.4
16.9
1.8
15.1
17.6
1.8
15.8
16.6
2.1
14.5
12.6
2.0
10.6
13.1
1.9
11.2
13.0
2.0
11.0
18.4
1.8
16.7
13.5
2.1
11.4
11.7
1.5
10.2
13.6
1.9
11.7
20.2
1.9
18.2
13.8
2.2
11.5
14.4
1.6
12.8
21.3
22.6
24.1
29.1
21.5
22.5
22.2
22.8
22.9
23.8
23.9
23.9
24.6
26.6
28.4
30.2
31.1
32.5
34.0
Capital grants received by the United States (net) ... 9
Interest paid by government to foreigners
21
Net foreign investment
22
. .
0
-114.4 -135.8 -150.9 -117.5 -141.6 -122.0 -131.8 -141.1 -148.5 -142.4 -151.4 -152.2 -157.6 -122.8 -115.0 -109.9 -122.0 -100.3 -100.7
1. See footnote 5 and the box on page 21 of the July 1989 SURVEY OF CURRENT BUSINESS.
2. Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, which was reclassified to "other" services.
3. Line 7 less line 16 equals rest-of-the-world product as shown in table 1.7.
4. Estimates beginning with the first quarter of 1986 exclude noninterest income of banks, which was reclassified to "other" services.
5. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical services and incorporate improved measurement of telecommunications services and insurance services; incorporate
new source data on travel and passenger fares; cover foreign students' expenditures in the United States; cover repairs and alterations of equipment (reclassified from line 4); and cover noninterest income of banks
(reclassified from line 7).
6. See footnote 7 and the box on page 21 of the July 1989 SURVEY OF CURRENT BUSINESS.
7. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical services and incorporate improved measurement of telecommunications services and insurance services; incorporate
new source data on Travel and passenger fares; cover U.S. students' expenditures abroad; and cover repairs and alterations of equipment (reclassified from line 13).
Table 4.2.—Exports and Imports of Goods and Services in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1985
IV
III
IV
I
II
1989
III
IV
I
II
III
IV
I
II
1
Services '
Factor 5 income 3 4
Other
.
Imports of goods and services 6
.
....
367.2
397.1
450.9
530.1
367.4
392.9
389.6
399.6
406.5
418.7
439.5
461.3
484.1
517.4
519.7
531.9
551.4
569.7
585.1
231.6
143.7
87.9
245.9
157.6
88.3
285.7
185.8
99.8
344.3
234.0
110.4
231.9
143.8
88.2
237.6
151.1
86.5
240.0
156.2
83.8
248.9
159.4
89.4
257.2
163.8
93.3
261.4
168.0
93.5
275.0
176.7
98.3
294.5
191.1
103.4
311.7
207.6
104.1
335.6
225.4
110.2
339.0
228.2
110.8
344.1
234.2
109.9
358.6
248.0
110.5
372.5
254.0
118.5
384.2
260.4
123.8
5
6
7
135.6
80.0
55.6
151.2
75.6
75.6
165.2
81.1
84.1
185.8
94.7
91.1
135.4
79.5
55.9
155.3
80.4
74.9
149.5
76.4
73.2
150.8
74.1
76.7
149.3
71.6
77.7
157.3
75.7
81.6
164.5
79.6
84.9
166.8
82.0
84.8
172.3
87.1
85.3
181.8
92.7
89.1
180.6
90.8
89.8
187.8
95.3
92.5
192.8
100.0
92.8
197.2
104.0
93.2
200.9
106.6
94.3
,., 8
Merchandise 2
Durable goods 2
Nondurable goods
Services6
Factor income 3
Other 7
II
2
3
4
Exports of goods and services '
Merchandise 2
Durable goods 2
Nondurable goods
I
1988
1987
1986
471.4
526.9
566.6
605.0
492.6
502.9
520.7
541.9
541.9
536.9
555.4
580.2
593.9
595.6
592.3
606.9
625.2
624.6
637.7
9
10
11
367.9
218.7
149.3
413.7
242.6
171.1
440.5
261.8
178.7
467.1
280.8
186.3
387.8
226.8
161.0
386.6
232.2
154.4
408.3
241.1
167.2
431.1
247.2
184.0
428.7
250.0
178.8
420.3
249.8
170.5
428.9
255.9
173.1
452.5
264.8
187.7
460.4
276.8
183.6
460.1
275.6
184.5
456.5
274.5
182.1
468.3
281.8
186.6
483.4
291.3
192.1
477.4
290.7
186J
485.6
292.1
193.5
12
13
14
103.5
43.1
60.4
113.2
45.1
68.1
126.1
54.5
71.5
137.9
66.6
71.3
104.8
41.9
62.9
116.2
44.3
72.0
112.5
47.6
64.9
110.8
42.7
68.1
113.2
45.7
67.4
116.7
47.7
68.9
126.4
54.3
72.1
127.7
56.2
71.5
133.5
59.8
73.7
135.5
61.4
74.1
135.8
65.2
70.5
138.5
68.2
70.3
141.9
71.4
70.4
147.2
75.7
71.6
152.1
77.8
74.3
1. See footnote 5 and the box on page 21 of the July 1989 SURVEY OF CURRENT BUSINESS.
2. Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, which was reclassified to "other" services.
3. Line 6 less line 13 equals rest-of-the-world product as shown in table 1.8.
4. Estimates beginning with the first quarter of 1986 exclude noninterest income of banks, which was reclassified to "other" services.
5. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical services and incorporate improved measurement of telecommunications services and insurance services; incorporate
new source data on travel and passenger fares; cover foreign students' expenditures in the United States; cover repairs and alterations of equipment (reclassified from line 3); and cover noninterest income of banks
(reclassified from line 6).
6. See footnote 7 and the box on page 21 of the July 1989 SURVEY OF CURRENT BUSINESS.
7. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical services and incorporate improved measurement of telecommunications services and insurance services; incorporate
new source data on travel and passenger fares; cover U.S. students' expenditures abroad; and cover repairs and alterations of equipment (reclassified from line 10).
70
July 1989
SURVEY OF CURRENT BUSINESS
Table 4.3.—Merchandise Exports and Imports by Type of Product and by End-Use Category
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
IV
1
Merchandise exports '
Industrial supplies and materials
Durable goods ...
..
Nondurable goods
Capital goods except autos
Autos
...
Consumer goods
Durable goods
Nondurable goods
Other '
Merchandise imports 1 .
Foods feeds and beveraaes
Industrial supplies and materials
Durable goods
Nondurable goods
Petroleum and products
Capital goods except autos
Autos
Consumer aoods
Durable °oods
Nondurable goods
Other 1
DurableCToods ' 2 2
Nondurable goods
. ..
2
3
4
5
6
7
8
9
10
11
12
13
.
.
14
...
.
..
..
.
.
excluding petroleum .
.
..
.
...
.
..
...
. .
...
. .
....
..
...
15
16
17
18
19
20
21
22
23
24
25
26
27
220.8 224.4 255.1
24.1
58.5
17.2
41.4
76.5
24.7
13.1
5.1
8.0
23.7
11.9
11.9
23.3
58.4
18.1
40.3
79.3
24.9
14.6
6.0
8.6
23.9
14.3
9.5
340.9 367.8 412.4
21.9
58.9
31.6
27.3
51.3
61.4
65.1
66.3
38.3
28.1
16.0
8.0
8.0
24.3
62.3
34.5
27.8
34.4
72.1
78.1
79.2
45.4
33.8
17.3
8.7
8.7
322.0 217.7
24.8 32.9
66.3 83.0
20.3 27.9
46.0 55.1
87.7 112.4
27.5 32.5
18.3 24.2
7.7 11.0
13.2
10.6
30.5 37.0
18.5 23.1
14.0
12.0
23.2
57.8
17.0
40.7
75.7
24.3
13.4
5.2
8.2
23.2
11.6
11.6
449.0 361.4
24.8 24.9
65.9 76.4
35.0 40.9
30.8 35.6
42.9 39.3
85.1 101.8
85.2 87.9
88.8 96.4
52.8
49.0
39.8 43.6
19.7 22.3
9.8 11.2
9.8 11.2
22.5
58.6
31.3
27.3
57.4
64.7
70.7
70.7
39.8
30.9
16.8
8.4
8.4
I
II
221.2
221.4
24.8
58.4
17.9
40.5
76.4
25.1
13.7
5.4
8.3
22.9
13.6
9.3
22.4
56.7
18.1
38.6
78.9
25.7
14.2
5.7
8.5
23.6
14.2
9.4
357.1
24.3
61.8
34.3
27.4
41.6
66.9
72.1
73.3
41.5
31.8
17.1
8.5
8.5
III
359.1
IV
I
II
HI
224.8 230.4 234.2 245.4 261.9
22.7
58.5
17.8
40.7
81.5
23.7
14.8
6.1
8.7
23.6
14.4
9.2
373.1
23.9
61.4
34.0
27.4
31.4
71.5
76.5
77.5
45.5
32.0
16.9
8.5
8.5
24.4
61.1
33.6
27.5
32.1
74.4
82.5
81.3
46.6
34.7
17.3
8.6
8.6
23.2
60.1
18.5
41.6
80.6
25.2
15.8
6.9
8.9
25.4
15.2
10.2
381.8
24.7
64.9
36.0
29.0
32.5
75.8
81.4
84.7
48.1
36.6
17.9
9.0
9.0
21.7
60.7
18.3
42.5
79.5
26.6
16.7
7.0
9.7
28.9
17.2
11.6
23.6
65.2
19.6
45.6
82.5
26.7
17.8
7.3
10.5
29.7
18.1
11.5
1989
1988
1987
1986
1985
27.3
67.8
21.1
46.8
91.7
25.8
18.9
7.9
11.0
30.4
18.4
11.9
IV
I
II
III
278.9 305.0 314.4
26.4
32.2
30.2
71.4 78.5
81.7
22.4 25.1 27.8
53.4 53.9
49.0
97.2 107.5 109.3
32.8 31.1
31.0
19.8 22.1 23.2
8.6
9.9 10.3
11.2
12.2
12.8
33.0
36.9
33.9
20.2 20.8
22.9
13.1
12.9
14.0
IV
II
I
327.5 341.0
358.7 370.9
34.8
85.2
28.6
56.6
112.9
31.9
24.9
11.5
13.4
37.8
23.6
14.2
38.6
92.6
32.5
60.1
123.4
35.5
29.9
15.1
14.8
38.7
25.0
13.7
34.6
86.4
30.2
56.3
119.7
34.3
26.6
12.2
14.4
39.5
24.9
14.5
39.0
97.6
33.6
64.0
128.4
35.4
31.6
16.4
15.2
38.9
24.6
14.3
386.8 403.5 422.4 436.9 439.0 439.5 448.8 468.8 469.8 479.8
23.9
63.1
33.6
29.5
35.5
76.5
83.3
85.3
47.6
37.7
19.3
9.6
9.6
24.7
62.5
33.3
29.3
40.4
82.7
85.0
89.1
48.7
40.3
19.1
9.6
9.6
25.3
65.8
35.0
30.8
51.0
87.6
84.3
88.8
49.1
39.7
19.7
9.9
9.9
25.4
72.2
38.4
33.8
44.9
93.7
88.1
92.1
50.5
41.6
20.5
10.3
10.3
26.0
74.6
40.0
34.6
40.3
96.2
86.5
94.2
51.3
42.9
21.3
10.6
10.6
23.8
74.2
39.3
35.0
41.0
101.0
85.3
93.0
50.7
42.3
21.2
10.6
10.6
24.8
76.3
40.1
36.2
39.1
102.7
87.0
96.5
53.0
43.5
22.5
11.2
11.2
25.1 25.1 25.2
80.2 77.5
80.6
44.1 43.5
41.5
36.6
36.0
36.5
54.7
36.9 43.4
107.1 108.7 112.0
91.3 87.2
93.0
98.4 100.4
101.8
55.0
56.1 54.7
45.4
43.7
45.6
24.4 22.7
22.8
12.2 11.4 11.4
11.4
11.4
12.2
Addenda:
28
29
30
Exports of nonaericultural products
Imports of nonpetroleum products
38.1 28.2 28.7
29.6 27.4 29.5
191.2 197.1 225.5 283.8 189.4 192.5
289.6 333.4 369.5 409.7 304.1 315.5
28.4
36.1
31.5
26.2
37.6
32.2
26.1 26.6 28.0
39.7
39.2 43.1 44.2
195.3 198.2 202.4 208.0 217.1 229.7 247.4 268.9 276.8 287.8 301.9 315.6 326.7
327.8 341.0 349.3 351.4 363.2 371.4 392.0 398.8 398.5 409.7 432.0 426.4 425.1
1 Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, which was reclassified to services other than factor income.
2. Because no data are available to distribute exports of "other" merchandise between durable and nondurable goods prior to 1986 or to distribute imports of "other" merchandise for all time periods, estimates were
distributed equally.
3. Includes parts of lines 2 and 5.
NOTE.—Beginning with 1985, the definitions of the end-use categories have been changed. For a description of the new definitions, see the technical notes in "U.S. International Transactions, First Quarter 1988,"
SURVEY OF CURRENT BUSINESS 68 (June 1988): 34-39 and 57.
Table 4.4.—Merchandise Exports and Imports by Type of Product and by End-Use Category in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
IV
1
Merchandise exports '
2
3
4
5
6
7
8
9
10
11
12
13
Industrial supplies and materials
Capital °oods except autos
Autos
Consumer goods
Durable goods ..
Nondurable goods
Other 1
Durable goods ' 2
Nondurable CToods 2
.
..
14
Merchandise imports '
Foods feeds and beverages
.
.
Industrial supplies and materials, excluding petroleum
..
Nondurable goods
Petroleum and products
Capital goods except autos
Autos
Consumer aoods
Durable °oods
.
Other '
Durable goods ' 2
Nondurable °oods 2
.
.
.
.
.
....
..
.
15
16
11.
18
19
20
21
22
23
24
25
26
27
231.6
25.3
61.2
18.0
43.2
85.8
22.7
13.2
5.5
7.7
23.5
11.7
11.7
245.9 285.7 344.3 231.9
33.1
26.5 30.1
63.8 69.4 79.7
19.7 21.3 26.8
44.0 48.2 52.9
94.1 112.6 144.3
22.4 24.3 28.1
14.1
17.1 21.7
7.6 10.3
6.1
8.0
9.5 11.4
37.5
25.1 32.0
15.4 20.0 24.5
13.0
9.7 12.0
367.9 413.7
22.4
67.3
36.1
31.2
60.4
73.1
60.8
67.4
40.3
27.1
16.6
8.3
8.3
440.5 467.1
23.2 23.9 22.7
73.8 73.5 73.7
39.5
39.3
40.8
33.0 34.3 34.2
78.2 86.2
75.5
84.1 102.1 121.2
65.8 67.8 66.4
74.5 77.2 78.2
43.6 43.8 44.3
33.9
30.9
33.3
18.7
17.8
16.8
9.4
8.4
8.9
9.4
8.4
8.9
1986
1985
25.9
60.8
17.9
42.9
86.6
22.2
13.4
5.5
7.8
23.2
11.6
11.6
I
II
24.4
61.7
19.7
42.0
92.4
23.0
13.8
5.8
8.0
24.7
15.2
9.5
26.8
64.8
19.7
45.1
96.8
21.2
14.3
6.2
8.1
25.1
15.6
9.5
387.8 386.6 408.3 431.1
23.0
68.4
36.5
31.9
68.1
76.6
64.2
70.4
41.0
29.4
17.1
8.6
8.6
IV
I
237.6 240.0 248.9 257.2 261.4
26.6
61.6
18.9
42.7
89.6
22.7
13.4
5.5
7.9
23.6
14.3
9.3
23.5
72.8
40.5
32.3
60.4
79.0
62.9
71.0
41.3
29.7
17.0
8.5
8.5
22.4
73.4
40.7
32.7
74.3
83.0
65.0
73.6
44.1
29.5
16.5
8.3
8.3
1988
1987
HI
23.7
73.0
40.2
32.8
87.7
86.2
68.7
75.2
43.8
31.4
16.6
8.3
8.3
II
HI
IV
275.0 294.5 311.7
I
II
1989
III
335.6 339.0 344.1
IV
I
II
358.6 372.5 384.2
28.9
26.6
36.1 37.2
32.0
31.7 34.2 34.3
33.3
31.9
66.2
69.0
88.7 93.0
81.8
80.5
70.1 72.5 77.6 79.0
32.0
31.2
24.8 26.8 27.0
21.8 22.7
19.9 20.7
28.5
46.2 48.3 48.3
61.0
57.5
53.2
52.8 52.2 53.5
49.8
98.7 105.5 118.7 127.6 139.8 140.2 144.6 152.4 152.7 158.2
27.2 28.8 27.2 27.3 29.2
23.6
23.7
29.9
22.8
29.7
18.2 20.0
15.8
17.6
16.7
27.2
20.9
22.3 23.6 26.0
9.4
8.3
6.9
13.7
9.8 10.7
7.8
7.3
14.6
11.3
9.4
9.9 10.6
8.8
11.6
11.1
9.8
12.6
12.3
12.3
34.4
35.2
31.2
30.5
37.4 37.4
32.0
38.8
39.0
39.7
21.8 22.6 24.2 24.5 26.6
18.7
19.6 20.0
26.5
25.8
12.6
12.6
11.8 11.6
12.5
11.9
12.9
13.1
12.9
13.2
428.7 420.3 428.9 452.5 460.4 460.1 456.5 468.3 483.4 477.4 485.6
23.2 23.2
24.5 24.3 23.9 23.8 21.7 22.5 22.7 22.9 23.4
71.4 71.4 77.0 75.0 71.9
75.9 74.4
72.7 75.1 72.7 70.3
41.7 39.7
38.2
39.4
38.1 41.0 40.3 38.2 38.3 41.1
37.5
33.2
34.2 34.7
34.7 33.7 34.4
35.9
33.3
33.3
34.0
32.7
88.4
79.8 70.7
81.2 83.2 84.9
72.7
86.4 90.3
87.9 93.9
88.2 90.2
97.5 106.9 113.5 116.0 120.4 123.6 124.8 129.5 134.7
67.3 67.6
66.5
69.1 66.5
67.0
67.4 65.1
65.7
64.8
68.8
78.1 76.5
77.6 77.4 75.1
76.7
77.9
78.6
78.5 79.7
81.7
45.0 43.5
44.0
43.8
43.9
43.7 42.2 44.7
46.6 45.2
45.5
32.9
33.1
33.6
34.0
33.7
32.9
32.9
34.2
35.1
33.8
33.3
17.0
17.4
18.0
18.2
18.1
17.8
18.9 20.0
17.8
18.6
18.6
9.0
8.5
8.7
9.1
9.1
8.9
9.4 10.0
8.9
9.3
9.3
9.0
8.5
9.1
8.9
8.7
8.9
9.1
9.4 10.0
9.3
9.3
28.2
67.0
20.7
46.4
97.5
22.5
15.0
6.8
8.2
27.0
16.4
10.6
Addenda:
Exports of agricultural products 3
Exports of nonagricultural products
Imports of nonpetroleum products
...
..
.
28
29
30
30.4 30.6 34.9 37.6
30.6 30.1
33.7 31.2
27.9 30.8
36.3
33.7
39.4
38.5
36.2
38.8
40.1
36.2
41.5
201.2 215.3 250.7 306.7 201.4 207.5 212.1 218.1 223.5 230.2 241.3 256.0 275.4 296.3 300.2 307.9 322.3 332.4 342.6
307.6 338.1 362.3 380.9 319.7 326.2 334.0 343.4 349.0 349.6 356.3 364.1 379.2 376.9 371.7 381.9 393.1 389.5 391.7
1 Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, which was reclassified to services other than factor income.
2. Because no data are available to distribute exports of "other" merchandise between durable and nondurable goods prior to 1986 or to distribute imports of "other" merchandise for all time periods, estimates were
distributed equally.
3. Includes parts of lines 2 and 5.
NOTE.—Beginning with 1985, the definitions of the end-use categories have been changed. For a description of the new definitions, see the technical notes in "U.S. International Transactions, First Quarter 1988,"
SURVEY OF CURRENT BUSINESS 68 (June 1988): 34-39 and 57.
July 1989
71
SURVEY OF CURRENT BUSINESS
Table 4.5.—Relation of Foreign Transactions in the National Income and Product Accounts (NIPA's) to the Corresponding Items in the Balance of Payments
Accounts (BPA's)
[Billions of dollars]
1986
371.2
1.7
5.3
10.6
0
12.2
5.3
392.0
5.6
8.6
0
0
13.1
5.6
446.1
2.7
16.2
0
0
14.8
6.6
Exports of goods and services, BPA's
Less: Gold, BPA's '
Capital gains net of losses in direct investment income receipts, BPA's 2
Statistical differences3
Other items
Plus: Adjustment for U.S. territories and Puerto Rico4
Services furnished without payment by financial intermediaries except life insurance carriers and private
noninsured pension plans.
Equals: Exports of goods and services, NIPA's 5
1
2
3
4
5
6
7
8
370.9
396.5
448.6
547.7
Imports of goods and services, BPA's
Less: Payments of income on U.S. Government liabilities5
Gold, BPA's 1
Capital gains net of losses in direct investment income payments, BPA's 2
Statistical differences3
Other items
Plus: Gold, NIPA's '
Adjustment for U.S. territories and Puerto Rico 4
Imputed interest paid to foreigners
Equals: Imports of goods and services, NIPA's 7
9
10
11
12
13
14
15
16
17
18
468.5
21.3
3.2
-1.5
7.8
0
-.4
6.3
5.3
448.9
509.4
22.6
7.9
-2.1
0
0
.3
6.9
5.6
493.8
575.6
24.1
3.8
-.4
0
0
-1.1
7.6
6.6
561.2
641.7
29.1
4.9
.9
0
0
-1.8
9.2
7.0
621.3
Balance on goods and services, BPA's (1-9)
Less: Gold (2-11+15)
Capital gains net of losses in direct investment income, BPA's (3-12)
Statistical differences (4-13)
Other items (5-14)
Plus: Payments of income on U.S. Government liabilities (10)
Adjustment for U.S. territories and Puerto Rico(6-16)
Equals: Net exports of goods and services, NIPA's (8-18)
19
20
21
22
23
24
25
26
-97.3
-1.8
6.8
2.8
0
21.3
5.8
-78.0
-117.5
-1.9
10.7
0
0
22.6
6.2
-97.4
-129.5
-2.2
16.5
0
0
24 A
7.2
-112.6
-111.9
-.7
-1.0
0
0
29.1
7.4
-73.7
Allocations of special drawing rights, BPA's
Plus: Other items
Equals: Capital grants received by the United States, net, NIPA's
27
28
29
0
0
0
0
0
0
0
0
0
Unilateral transfers (excluding military grants of goods and services), net, BPA's
Less: Statistical differences3
Other items
Plus: Adjustment for U.S. territories and Puerto Rico4
Equals: Transfer payments to foreigners, net, NIPA's
30
31
32
33
34
0
.1
15.1
15.9
14.3
14.7
Payments of income on U.S. Government liabilities, BPA's
Equals: Interest paid by government to foreigners, NIPA's
35
36
21.3
21.3
22.6
22.6
0
24.1
0
29.1
Balance on current account, BPA's (19-30)
Less: Gold (20)
Capital gains net of losses in direct investment income, BPA's (21)
Statistical differences (22-31)
Other items (23-32)
Plus: Capital grants received by the United States, net, NIPA's (29)
Adjustment for U.S. territories and Puerto Rico (25-33)
Equals: Net foreign investment, NIPA's (26+29-34-36)
37
38
39
40
41
42
43
44
-112.7
-1.8
6.8
2.4
0
0
5.7
-114.4
-133.2
-1.9
10.7
0
0
0
6.2
-135.8
-143.7
-2.2
16.5
0
0
0
7.1
-150.9
-126.5
-.7
-1.0
0
0
0
7.3
-117.5
15.4
.4
529.8
5.9
-.1
0
0
16.6
7.0
0
0
0
15.8
0
0
.1
0
0
.1
0
0
.1
1. The treatment of net exports of gold in the NIPA's differs from that in the BPA's. BPA gold exports (line 2) and imports (line 11) are removed from the NIPA's. Imports of gold in the NIPA's (line 15) is the excess
of the value of gold in domestic final sales plus the change in business inventories over the value of U.S. production of gold.
2. BPA capital gains and losses included in U.S. direct investment income abroad (line 3) and in foreign direct investment income in the U.S. (line 12) are removed from the NIPA's.
3. Consists of statistical revisions in the BPA's that have not yet been incorporated in the NIPA's.
4. Consists of transactions between the United States and its territories and Puerto Rico. The treatment of U.S. territories and Puerto Rico in the NIPA's differs from that in the BPA's. In the NIPA's they are included in
the rest of the world; in the BPA's, they are treated as part of the United States. The adjustments to exports and imports of goods and services are shown in lines 6 and 16 respectively; however, because data are not
available to adjust service exports and imports separately, line 6 includes the net of exports and imports of services by U.S. territories and Puerto Rico. The adjustment to unilateral transfers, net (line 33) consists only of
transfer payments from persons because transfer payments, subsidies, and grants-in-aid from the Federal Government to residents of U.S. territories and Puerto Rico are excluded from NIPA transfer payments to foreigners.
5. Estimates beginning with 1986 cover many business, professional, and technical services and incorporate improved measurement of telecommunications services and insurance services; incorporate new source data on
travel and passenger fares; and cover foreign students' expenditures in the United States. See the box on page 21 in the July 1989 SURVEY OF CURRENT BUSINESS.
6. Represents interest paid by government to foreigners. This item is treated as an import of services in the BPA's. In the NIPA's, it is excluded from government purchases and, thus, also from imports.
7. Estimates beginning with 1986 cover many business, professional, and technical services and incorporate improved measurement of telecommunications services and insurance services; incorporate new source data on
travel and passenger'fares; and cover U.S. students' expenditures abroad. See the box on page 21 in the July 1989 SURVEY OF CURRENT BUSINESS.
72
SURVEY OF CURRENT BUSINESS
July 1989
5. Saving and Investment
Table 5.1.—Gross Saving and Investment
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1988
1987
1986
1985
IV
1987
1986
I
III
II
IV
n
I
1989
1988
III
IV
I
II
III
I
IV
II
1
533.5
525.3
553.8
642.4
520.3
559.6
523.0
508.8
510.0
529.5
535.0
551.1
599.5
619.1
633.4
669.8
647.4
693.5
Gross private saving
Personal saving
Undistributed corporate profits with inventory
valuation and capital consumption
adjustments.
Undistributed profits
Inventory valuation adjustment
Capital consumption adjustment
Corporate capital consumption allowances with
capital consumption adjustment.
Noncorporate capital consumption allowances
with capital consumption adjustment.
WaCTe accruals less disbursements
2
3
4
665.3
125.4
102.6
669.5
124.9
84.5
663.8
101.8
75.3
738.6
144.7
80.3
666.3
111.7
107.6
686.8
135.9
101.4
697.7
155.0
86.0
652.2
106.6
82.1
641.2
102.0
68.5
682.7
135.9
69.9
612.3
55.9
72.9
644.5
73.6
80.4
715.8
141.8
78.1
720.0
131.9
83.4
722.5
134.0
78.3
742.4
149.6
77.6
769.3
163.4
81.7
792.1
205.7
53.4
5
6
7
8
44.6
-1.7
59.7
268.6
24.0
6.7
53.8
285.9
43.3
-18.9
50.9
303.1
58.5
-25.0
46.8
321.7
51.2
-6.6
63.0
274.1
24.9
16.8
59.7
278.2
20.2
10.9
54.9
283.6
23.3
7.3
51.6
288.3
27.4
-8.0
49.1
293.5
36.4
-15.9
49.3
297.5
42.6
-20.0
50.3
301.3
48.3
-19.4
51.5
304.9
46.1
-20.4
52.4
308.5
54.2
-20.7
49.9
314.9
58.3
-28.8
48.9
319.0
61.1
-30.4
46.9
323.1
60.4
-20.1
41.5
329.7
55.1
-38.3
36.6
335.2
-21.0
31.7
340.3
9
168.7
174.2
183.6
191.9
172.9
171.3
173.2
175.1
177.2
179.4
182.2
185.6
187.3
189.8
191.2
192.1
194.4
197.8
201.3
10
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Government surplus or deficit (-), national
income and product accounts.
Federal
State and local.
11
-131.8 -144.1 -110.1
12
13
-196.9 -206.9 -161.4 -145.8 -212.2 -195.6 -236.0 -206.8 -189.0 -199.4 -137.7 -143.9 -164.4 -151.8 -141.5 -122.5 -167.6 -147.5
60.4
49.7
61.3
63.4
57.8
50.5
48.0
50.8
52.4
49.8
62.8
51.3
66.3
68.5
46.3
45.7
48.8
65.1
Capital grants received by the United States
(net).
14
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
15
528.7
523.6
549.0
632.8
512.4
561.9
525.4
506.6
500.3
530.7
532.7
540.5
592.0
605.9
633.4
661.2
630.8
669.3
677.2
Gross saving
Gross investment
Gross private domestic investment
Statistical discrepancy
16
17
18
-96.1 -145.9 -127.2 -174.7 -143.4 -131.3 -153.2
-77.3
-93.5 -116.3 -101.0
-72.7 -121.9
-89.1
203.7
-98.7
684.1
659.4 699.9 750.3 654.1
692.8 749.7 728.8 748.4 771.1
683.8 657.2 647.7 648.8 673.1
752.8 769.6 777.9
643.1
-114.4 -135.8 -150.9 -117.5 -141.6 -122.0 -131.8 -141.1 -148.5 -142.4 -151.4 -152.2 -157.6 -122.8 -115.0 -109.9 -122.0 -100.3 -100.7
-4.8
-1.8
-4.7
-9.6
-7.9
2.3
2.3
-2.1
-9.6
1.2
-2.3
-10.5
-7.4
-13.1
-.1
-8.6
-16.6
-24.1
Table 5.2.—Gross Private Domestic Investment, Capital Consumption Allowances with Capital Consumption Adjustment, and Net Private Domestic
Investment by Major Type of Investment
Table 5.3.—Gross Private Domestic Investment, Capital Consumption Allowances With Capital Consumption Adjustment, and Net Private Domestic
Investment by Major Type of Investment in Constant Dollars
fBillions of dollars]
[Billions of 1982 dollars]
Line
Gross private domestic investment
.
.
Less: Capital consumption allowances with capital consumption
adjustment.
Equals* Net private domestic investment
..
Fixed investment
Less: Capital consumption allowances with capital consumption
adjustment.
Equals'. Net fixed investment ..
Nonresidential
Less: Capital consumption allowances with capital consumption
adjustment.
Equals' Net nonresidential
1985
1986
1987
1988
1
2
643.1 659.4 699.9 750.3
437.2 460.1 486.7 513.6
3
205.9 199.3
4
5
631.8 652.5 670.6 719.6
437.2 460.1 486.7 513.6
213.2
2367
6
194.5
7
8
442.9 435.2 444.3 487.2
340.8 359.9 378.8 399.0
192.4
183.9
2060
9
1021
753
655
88 1
Structures
Less: Capital consumption allowances with capital consumption
adjustment.
Equals* Net structures
10
11
153.2
107.4
139.0
111.5
133.8
116.8
140.3
121.7
458
275
170
187
Producers' durable equipment
Less: Capital consumption allowances with capital consumption
adjustment.
Equals: Net producers' durable equipment
13
14
Residential
.
Less: Capital consumption allowances with capital consumption
adjustment.
Equals* Net residential
12
15
16
17
18
289.7 296.2 310.5 346.8
233.4 248.4 262.0 277.4
56.3
47.8
48.5
69.5
188.8 217.3 226.4 232.4
96.4 100.2 107.9 114.5
924 117 1 1185 1179
181.9 210.6 218.9
90.2 93.7 101.1
Nonfarm structures
....
Less: Capital consumption allowances with capital consumption
adjustment.
Equals' Net nonfarm structures
19
20
Farm structures
Less: Capital consumption allowances with capital consumption
adjustment.
Equals* Net farm structures
22
23
1.9
2.7
1.2
2.7
1.7
2.8
1.1
2.8
24
-8
-1 5
-1 1
-1 7
Producers' durable equipment
Less: Capital consumption allowances with capital consumption
adjustment.
Equals' Net producers' durable equipment
25
26
5.1
3.5
5.5
3.7
5.8
4.0
64
4.3
Change in business inventories
21
225.0
107.4
917 1168 1177 1175
27
16
18
19
21
28
11.3
6.9
29.3
30.6
Line
Gross private domestic investment
Less: Capital consumption allowances with capital consumption
adjustment.
Equals: Net private domestic investment
Fixed investment
Less: Capital consumption allowances with capital consumption
adjustment.
Equals: Net fixed investment ...
Nonresidential
Less: Capital consumption allowances with capital consumption
adjustment.
Equals: Net nonresidential
1985
1
2
6370 6396 6740 7158
426.7 443.4 460.8 480.2
1986
1987
1988
3
2103 1962 213 1 2356
4
5
6279 634 1 6503 6879
426.7 443.4 460.8 480.2
6
201 2 1907 1894 2077
4535 4384 4555 493 g
337.4 352.9 367.4 384.0
7
8
9
116 1
Structures
Less: Capital consumption allowances with capital consumption
adjustment.
Equals: Net structures
10
11
1495 130 1 1223 122 2
107.6 110.1 111.4 112.1
Producers' durable equipment
Less: Capital consumption allowances with capital consumption
adjustment.
Equals: Net producers' durable equipment
13
14
Residential
Less: Capital consumption allowances with capital consumption
adjustment.
Equals: Net residential
12
15
16
17
18
419
108
10 1
742
65 6
772
998
1744 1957 1948 194 1
93.4
89.3 90.6
96.2
85 1 105 1 101 3
19
20
Farm structures
Less: Capital consumption allowances with capital consumption
adjustment.
Equals: Net farm structures
22
23
17
2.5
24
-7
Producers' durable equipment
Less: Capital consumption allowances with capital consumption
adjustment.
Equals: Net producers' durable equipment
25
26
51
3.5
Change in business inventories
200
88 1 1098
304.0 308.3 3332 3716
229.8 242.8 256.0 271.9
Nonfarm structures
Less: Capital consumption allowances with capital consumption
adjustment.
Equals: Net nonfarm structures
21
85 6
167.6
83.3
979
1890 1874 1868
84.4
87.0
89.6
843 1046 1004
2.4
15
2.4
97 2
9
2.4
-1 3
—9
—1 4
55
3.7
59
4.0
63
4.3
11
27
16
18
19
21
28
9.1
5.6
237
279
July 1989
73
SURVEY OF CURRENT BUSINESS
Table 5.4.—Purchases of Structures by Type
Table 5.5.—Purchases of Structures by Type in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Line
1985
1986
1987
1988
Line
1
406.9
427.3
436.4
451.6
2
337.0
350.8
354.3
366.4
3
153.2
1390
1338
1403
4
1546
1390
1338
1403
5
6
7
8
9
10
11
96.2
168
598
2.4
1.7
56
9.9
91.9
146
570
2.7
2.1
54
10.1
92.6
146
557
2.8
3.1
60
10.5
97.8
159
583
2.8
2.5
72
110
Nonresidential buildings excluding farm
Industrial
Commercial
Religious .
Educational
Hospital and institutional
Other 2
12
13
14
15
16
. . . . 17
269
4.0
7.3
12.1
3.1
3
27 6
2.9
8.0
13.4
30
3
246
2.5
8.1
10.7
3.0
4
26 1
26
7.8
11.8
35
4
Farm
Mining exploration shafts and wells
Petroleum and natural gas
Other
Other 3
18
19
20
21
22
Brokers' commissions on sale of structures
Net purchases of used structures.
23
24
22
263
242
2.1
31
7
-22
21
149
13.4
1.5
26
7
-7
21
11 5
10.0
1.5
30
7
-7
Purchases of structures '
Private
Nonresidential
New
Nonresidential buildings, excluding farm
Industrial
Commercial
Religious
Educational
Hospital and institutional
Other 2
Public utilities.
Railroads
Telephone and telegraph
Electric light and power
Gas
Petroleum pipelines
Residential
Farm
New housing units
Additions and alterations
Major replacements
387.7
382.4
380.7
318.8
320.2
311.2
310.0
3
149.5
130.1
122.3
122.2
4
130.1
122.3
122.1
5
6
7
8
9
10
11
150.8
857
150
53.3
21
15
50
8.8
796
127
49.4
23
18
47
8.7
77 1
12 1
46.4
23
26
50
8.7
787
128
46.9
23
20
58
8.8
Public utilities
Railroads
Telephone and telegraph
Electric light and power
Gas
Petroleum pipelines
12
13
14
15
16
17
25.1
37
69
113
3.0
.3
25.7
26
74
12.5
2.9
.3
22.5
22
73
9.8
2.9
.4
22.6
23
67
101
3.1
.3
2l
120
105
1.4
23
Mining exploration, shafts, and wells
Petroleum and natural gas
Other
Other3
18
19
20
21
22
2.0
35.2
333
1.9
2.8
1.8
20.7
194
1.3
2.3
1.7
18.2
170
1.2
2.7
1.7
17.2
160
1.1
2.0
8
-7
Brokers' commissions on sale of structures
Net purchases of used structures
23
24
.7
-1 9
.6
-6
.6
-6
.6
-6
211.8
220.5
226.1
168.9
194.6
202.1
205.3
167 1
1219
115.8
86.0
29.9
61
295
15.3
3
193 3
1398
134.5
102.0
32.5
53
37.4
15.7
4
2004
1464
141.0
114.4
26.6
54
38.2
15.2
6
19
4
.8
.7
12
.4
.4
.4
17
.4
1.1
.2
194
-2.2
206
-2.1
22.2
-1.4
42
69.9
76.4
82.1
85.2
Nonresidential
New
11
.4
.5
.2
162
-1.3
Purchases of structures '
Private
2042
145 1
139.8
116.5
23.3
5.3
42.2
16.3
6
40
41
Government structures and new construction force-account
compensation.
183.8
36
37
38
39
Brokers' commissions on sale of structures
Net purchases of used structures.
.
1988
382.0
27
28
29
30
31
32
33
34
35
.
1987
1
26
Nonfarm .
New housing units
Permanent site
1-unit structures
2-or-more-unit structures
Mobile homes
Additions and alterations ....
Major replacements
Other 4
1986
2
25
New
1985
Residential
New
Nonfarm
New housing units
Permanent site
1-unit structures
2-or-more-unit structures
Mobile homes
Additions and alterations
Major replacements
Other 4
25
..
Farm
New housing units
Additions and alterations
Major replacements
Brokers' commissions on sale of structures
Net purchases of used structures
Government structures and new construction force-account
compensation.
169.3
190.2
188.9
26
'.
155.7
174.7
173.2
170.6
27
28
29
30
31
32
33
34
35
1539
112.8
106.8
79.3
275
6.0
27.0
139
.3
173 6
125.7
120.5
91.4
29 1
5.2
33.5
14.1
.4
171 7
125.2
120.1
97.4
227
5.1
32.8
13.1
.5
1697
1203
115.5
96.2
193
4.8
35.2
137
.5
36
37
38
39
17
.4
.7
6
1i
.4
.4
4
15
.3
.9
2
10
.4
.4
1
40
41
14.9
-1 2
17.4
-1 9
17.5
-1 8
18.4
-1 2
42
63.3
67.5
71.3
70.8
187.8
43
66.4
73.6
79.3
83.1
43
60.1
65.0
68.9
69.0
Buildings, excluding military
Residential
Industrial
Educational
Hospital
Other 5
44
45
46
47
48
49
21.2
27
19
6.7
17
8.2
24.3
26
1.5
8.4
17
10.1
25.8
26
1.3
8.8
18
11.2
28.3
2.7
1.3
11.0
2.0
11.2
Buildings excluding military
Residential
Industrial
Educational
Hospital
Other 5
44
45
46
47
48
49
190
25
1.7
60
1.5
7.4
21 2
23
1.3
73
14
8.9
216
22
1.1
74
15
94
228
22
1.1
89
16
9.1
Highways and streets
Military facilities
Conservation and development
50
51
52
21.5
3.5
48
23.0
4.1
4.6
25.3
4.9
5.2
28.5
4.7
4.5
Highways and streets
Military facilities
Conservation and development
50
51
52
189
32
4.6
199
34
4.4
22 1
40
4.8
236
37
4.1
53
54
55
56
9.9
7.2
27
5.6
11.5
8.1
34
6.1
12.4
88
36
5.7
12.0
8.3
38
5.1
Sewer and water systems
Sewer systems
Water supply facilities
Other6
53
54
55
56
9.2
6.7
2.5
5.2
10.5
7.4
3.1
5.5
11.2
8.0
3.3
5.2
10.4
7.2
3.3
4.4
57
35
28
2.8
2.1
57
32
25
24
18
New
Sewer and water systems
Sewer systems
Water supply facilities
Other6
Net purchases of used structures
.
1. In this table, purchases of structures includes compensation of government employees engaged in new
force-account construction. In tables 1.3, 3.1, and 3.7, this compensation is classified as a service and is
included as part of government compensation of employees.
2. Consists of hotels and motels, buildings used primarily for social and recreational activities, and
buildings not elsewhere classified, such as passenger terminals, greenhouses, and animal hospitals.
3. Consists of streets, dams and reservoirs, sewer and water facilities, parks, airfields, etc.
4. Consists of dormitories, fraternity and sorority houses, nurses' homes, etc.
5. Consists of general office buildings, police and fire stations, courthouses, auditoriums, garages, passenger
terminals, etc.
6. Consists of electric and gas facilities, transit systems, airfields, etc.
NOTE.—Quarterly estimates for selected items are shown in table 5.12.
New
Net purchases of used structures
1. In this table, purchases of structures includes compensation of government employees engaged in new
force-account construction. In tables 1.4 and 3.8, this compensation is classified as a service and is included
as part of government compensation of employees.
2. Consists of hotels and motels, buildings used primarily for social and recreational activities, and
buildings not elsewhere classified, such as passenger terminals, greenhouses, and animal hospitals.
3. Consists of streets, dams and reservoirs, sewer and water facilities, parks, airfields, etc.
4. Consists of dormitories, fraternity and sorority houses, nurses' homes, etc.
5. Consists of general office buildings, police and fire stations, courthouses, auditoriums, garages, passenger
terminals, etc.
6. Consists of electric and gas facilities, transit systems, airfields, etc.
NOTE.—Quarterly estimates for selected items are shown in table 5.13.
74
SURVEY OF CURRENT BUSINESS
July 1989
Table 5.7.—Private Purchases of Producers' Durable Equipment by Type in
Constant Dollars
Table 5.6.-—Private Purchases of Producers' Durable Equipment by Type
[Billions of dollars]
[Billions of 1982 dollars]
Line
1985
1986
1987
1988
1
294.8 301.7
316.3
353.2
289.7 296.2 310.5
346.8
Industrial equipment ..
Fabricated metal products
Engines and turbines
Metalworking machinery
.. .
Special industry machinery, n.e.c
General industrial, including materials handling, equipment
Electrical transmission, distribution, and industrial apparatus
2
3
4
5
6
7
8
9
10
11
12
13
14
Transportation and related equipment.
Trucks, buses, and truck trailers
Autos
Aircraft
Ships and boats
Railroad equipment
Private purchases of producers' durable equipment
Nonresidential equipment
Information processing and related equipment
Office, computing and accounting machinery
Communication equipment
. . .
Instruments
Photocopy and related equipment
,
96.7
10.6
10.6
683
83
17
154
130
347
377
137
384
399
150
109
439
432
690
79
71 1
81 9
74
83
15
16 1
13
13
18 1
163
156
179
16 1
115
Tractors
Agricultural machinery except tractors
Construction machinery, except tractors
Mining and oilfield machinery
Service industry machinery
Electrical equipment, n.e.c
Other
Less* Sale of equipment scrap, excluding autos
...
12.5
213
194
135
638
326
179
103
670
305
205
132
676
324
763
365
19 1
21 4
129
146
15
15
15
13
14
17
24
647
148
54
64
100
34
83
7.3
92
65 1
17
16
699
170
57
68
102
24
89
8.1
106
23
768
186
64
76
30
Other equipment
17.9
11.7
21
22
23
24
25
26
27
28
29
,
17.3
12.6
31
5.1
5.5
5.8
64
138
155
52
60
10.5
23
84
7.4
97
Private purchases of producers' durable equipment..
Nonresidential equipment
..„
»
1042 1147
15
16
17
18
19
20
.. .
Residential equipment
948
364
354
123
Line
13
11 2
28
99
87
11 7
29
Office computing and accounting machinery
Communication equipment
Instruments
Photocopy and related equipment
Industrial equipment
Fabricated metal products
,
Engines and turbines
...
Metalworking machinery .
Special industry machinery, n.e c
General industrial, including materials handling, equipment
Electrical transmission, distribution, and industrial apparatus
Transportation and related equipment
Trucks buses, and truck trailers
Autos
Aircraft
Ships and boats
Railroad eauioment
n.e.c. Not elsewhere classified.
NOTE.—Quarterly estimates for selected items are shown in table 5.12.
32
33
34
35
36
37
38
294.8 301,7
316.3
3532
1.7
1.7
1.9
21
.7
279
.7
274
10
1.8
1.2
1.6
.7
278
11
.8
321
14
2.3
29
323 1 3294 3450 3867
1986
1987
1988
1
309.1
313.8
339.1
378.0
2
3
4
5
6
7
8
9
10
11
12
304.0 308.3 333.2 371.6
13
14
15
.
Tractors
Agricultural machinery, except tractors
Construction machinery except tractors
Mining and oilfield machinery
Electrical equipment, n e e
Other
Less* Sale of equipment scrap excluding autos
Residential equipment
Addenda:
Private purchases of producers' durable equipment
Less: Dealers' margin on used equipment
Net purchases of used equipment from government
Plusi Net sales of used equipment
Net exports of used equipment
Sale of equipment scrap
Equals' Private purchases of new equipment
1985
n.e.c. Not elsewhere classified.
NOTE.—Quarterly estimates for selected items are shown in table 5.13.
16
17
18
19
20
1193 1287 152.9
65.0
73 1 95.5
31.5
32.5 33.4
13.3
11.6
12.5
11.2
10.7
10.7
1742
113.7
35.4
13.9
11.2
64.6
62.3
61.9
68.4
8.0
1.8
7.7
15
7.2
1.2
7.7
1.2
14.8
12.0
16.5
11.6
14.6
11.8
16.2
10.5
14.2
12.6
15.6
11.0
15.4
16.5
16.1
11.5
61.5
29.5
19.3
59.9
26.4
18.3
12.6
58.9
27.7
16.2
12.1
65.7
30.6
18.3
13.5
1.4
1.2
1.3
1.6
1.2
2.2
9.9
1.4
1.4
21
22
23
60.2
58.9
61.4
64.9
133
50
135
47
144
4.9
149
5.3
24
25
5.8
9.4
5.3
9.5
5.9
8.7
6.4
9.1
26
27
28
29
3.4
75
7.0
8.8
2.3
75
7.0
9.1
2.4
7.9
7.5
9.7
2.6
85
7.8
30
1.6
1.5
1.8
1.6
31
5.1
5.5
5.9
6.3
10.4
July 1989
75
SURVEY OF CURRENT BUSINESS
Table 5.8.—Change in Business Inventories by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1986
1985
I
IV
II
1988
1987
IV
III
I
II
III
IV
I
1989
II
III
IV
I
II
32.4
1
11.3
6.9
29.3
30.6
7.2
40.7
5.4
-6.4
-12.2
25.4
18.8
9.5
63.3
30.0
29.3
44.6
18.7
27.7
Farm
2
-3.3
-1.8
-1.3
-3.6
-16.5
2.7
-3.7
-1.9
-4.2
-.6
-2.0
-4.5
2.1
5.8
-1.1
3.1
-22.2
8.6
7.1
Nonfarm
Change in book value
Inventory valuation adjustment '
3
4
5
14.6
14.5
.2
8.6
-1.9
10.5
30.5
56.2
-25.7
34.2
70.6
-36.4
23.7
30.8
-7.1
38.0
9.5
28.5
9.1
-7.2
16.3
-4.6
-12.9
8.3
-8.0
3.2
-11.1
26.0
47.2
-21.1
20.8
48.0
-27.2
14.0
40.4
-26.4
61.3
89.2
-27.9
24.2
54.5
-30.3
30.4
72.3
-41.9
41.5
84.4
-42.8
40.8
71.2
-30.4
19.1
76.8
-57.8
25.3
57.0
-31.7
Manufacturing
Durable goods
Nondurable goods
6
7
8
-9.3
-6.7
-2.7
-4.9
-4.6
-.3
4.4
3.3
1.2
9.1
8.7
.4
-10.5
-13.1
2.7
-5.6
-4.1
-1.5
.7
-3.4
4.1
-10.3
-5.2
-5.1
-4.5
-5.8
1.3
-3.8
-3.4
-.3
-2.5
-.9
-1.6
10.0
6.9
3.1
14.1
10.6
3.4
10.5
7.6
2.9
4.5
5.0
-.5
6.6
7.5
-.9
14.9
14.6
.3
4.5
10.2
-5.7
10.9
7.9
2.9
Wholesale trade
Durable goods
Nondurable goods
9
10
11
3.6
.8
2.8
6.1
3.1
3.0
5.7
3.8
1.9
8.9
7.3
1.6
4.2
1.0
3.2
12.6
6.7
5.9
5.8
4.1
1.7
13.2
8.3
4.9
-7.0
-6.5
-.5
2.7
3.1
-.3
3.7
4.2
-.4
-4.5
-6.7
2.2
20.7
14.5
6.2
17.2
15.3
2.0
4.2
-4.3
8.5
9.7
16.1
-6.3
4.5
2.2
2.3
-4.6
1.2
-5.9
6.6
10.0
-3.4
Merchant wholesalers
Durable goods
Nondurable <*oods
12
13
14
5.5
1.4
4.1
6.1
3.1
2.9
5.7
3.5
2.2
7.7
6.0
1.7
4.9
2.4
2.4
13.3
7.3
5.9
5.7
4.7
1.0
12.4
7.7
4.7
-7.1
-7.2
0
1.6
2.3
-.7
6.4
5.3
1.1
-4.4
-6.9
2.4
19.1
13.2
5.9
16.0
14.0
2.0
4.9
-4.1
9.1
7.4
14.1
-6.7
2.4
-.2
2.6
-4.1
1.7
-5.8
5.9
10.5
-4.6
Nonmerchant wholesalers
Durable goods
Nondurable goods
15
16
17
-1.8
-.6
-1.2
.1
0
.1
0
.3
-.3
1.2
1.3
-.1
-.6
-1.4
.8
-.7
-.7
0
.1
-.6
.8
.8
.6
.2
.2
.7
-.5
1.1
.7
.4
-2.6
-1.1
-1.5
-.1
.2
-3
1.5
1.2
.3
1.2
1.2
0
-.8
-.2
-.6
2.3
1.9
.4
2.1
2.4
-.3
-.5
-.4
-.1
.7
-.5
1.2
18
19
20
21
22
12.0
8.7
6.2
2.5
3.4
2.2
.1
-1.6
1.7
2.2
16.8
13.2
9.2
4.0
3.7
8.3
6.1
3.1
3.1
2.1
19.2
16.8
15.2
1.6
2.4
24.0
18.6
13.0
5.6
5.4
-3.9
-3.1
-3.5
.4
-.8
-10.4
-13.9
-18.2
4.3
3.5
-.7
-1.3
2.1
-3.4
.5
24.3
20.8
20.4
.4
3.5
16.9
12.4
4.6
7.8
4.5
4.1
1.6
1.0
.6
2.5
22.0
17.8
10.8
7.1
4.2
-9.6
-14.5
-17.0
2.5
4.9
13.9
13.4
11.5
1.8
.6
15.1
14.2
10.0
4.2
.9
13.6
11.4
7.7
3.7
2.1
9.9
7.3
10.6
-3.3
2.6
2.2
-5.2
-1.2
-4.0
7.4
23
24
25
8.3
3.7
4.6
5.2
2.6
2.5
3.6
1.8
1.8
7.9
2.9
5.0
10.7
3.9
6.8
7.0
2.9
4.0
6.4
2.5
4.0
3.0
1.0
1.9
4.3
4.0
.3
2.8
.3
2.5
2.6
2.8
-.1
4.5
3.0
1.5
4.5
1.4
3.2
6.1
1.3
4.8
7.7
2.9
4.9
10.1
3.6
6.4
7.9
3.8
4.1
9.3
3.3
6.0
5.6
-.3
5.9
Change in business inventories
Retail trade
Durable goods
Automotive
Other
Nondurable goods
,
Other
Durable goods
Nondurable goods
1
1. The inventory valuation adjustment (IVA) shown in this table differs from the IVA that adjusts business incomes. The IVA in this table reflects the mix of methods (first-in, first-out; last-in, first-out; etc.) underlying
book value inventories derived primarily from Census Bureau statistics. This mix differs from that underlying business income derived primarily from Internal Revenue Service statistics.
Table 5.9.—Change in Business Inventories by Industry in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
IV
III 1
IV
I
II
18.1
13.3
6.8
56.6
34.3
21.5
37.5
18.3
24.5
-2.2
-1.2
-6.1
1.0
5.9
-4.0
.3
-13.6
7.6
2.4
23.2
37.4
10.5
-5.1
-10.9
20.3
14.5
12.9
55.6
28.3
25.4
37.2
31.9
16.9
19.6
8.5
8.2
.3
-9.5
-12.7
3.2
-4.5
-4.1
-.4
3.2
-3.7
6.9
-13.4
-5.4
-8.0
-5.8
-5.4
-.5
-5.6
-3.7
-1.9
-3.7
-1.2
-2.5
9.5
6.2
3.3
13.1
9.5
3.7
11.9
7.2
4.7
4.2
5.0
-.8
5.8
7.4
-1.6
12.2
13.2
-1.0
3.8
8.3
-4.5
8.4
6.4
2.0
4.4
3.4
1.0
8.5
6.6
1.9
4.4
.9
3.5
12.8
6.3
6.5
4.5
3.7
.8
15.2
7.8
7.4
-7.4
-6.0
-1.4
2.0
2.9
-.9
1.4
3.7
-2.3
-4.3
-6.0
1.8
18.6
13.1
5.5
19.3
14.1
5.2
2.8
-3.9
6.7
9.8
14.3
-4.5
1.9
1.9
0
-2.4
1.0
-3.4
4.7
8.7
-4.0
6.1
3.0
3.2
4.7
3.2
1.5
7.5
5.4
2.1
4.8
2.3
2.5
13.9
6.9
6.9
3.8
4.4
-.6
13.9
7.2
6.6
-7.0
-6.7
-.3
.5
2.2
-1.7
18
4.8
.1
-3.9
-6.2
2.3
17.4
12.0
5.4
18.1
12.9
5.2
4.1
-3.7
7.8
7.4
12.5
-5.2
.4
-.3
.7
-2.1
1.5
-3.5
3.9
9.2
-5.3
-2.1
-.6
-1.5
.1
0
.2
-.3
.3
-.5
1.0
1.2
-.4
-1.3
.9
-1.1
-.6
-.4
.8
-.6
1.4
1.3
.6
.7
-.5
.7
-1.1
1.6
.7
.8
-3.4
-1.1
-2.4
-.4
.2
-.6
1.2
1.2
0
1.2
1.2
0
-1.3
"7
2.5
1.8
.7
1.5
2.2
_ j
-.4
-.5
.1
.8
-.5
1.3
16
17
18
19
20
11.2
8.1
5.7
2.4
3.2
2.2
.1
-1.5
1.7
2.0
15.1
11.8
8.1
3.7
3.3
7.3
5.4
2.6
2.8
1.9
17.8
15.4
13.9
1.6
2.3
22.3
17.3
11.9
5.3
5.1
-3.5
-2.8
-3.2
.4
-.7
-9.4
-12.7
-16.7
4.1
3.2
-.7
-1.3
1.9
-3.2
.5
21.6
18.4
18.1
.3
3.2
15.4
11.3
4.0
7.3
4.1
3.8
1.5
.9
.6
2.3
19.7
15.9
9.4
6.5
3.8
-8.0
-12.5
-14.8
2.3
4.4
12.2
11.7
10.0
1.7
.5
13.3
12.5
8.6
3.9
.8
11.6
9.8
6.6
3.2
1.9
8.4
6.1
9.0
-2.9
2.3
1.8
-4.5
-1.0
-3.5
6.3
21
22
23
8.2
3.4
4.8
4.7
2.4
2.3
2.9
1.7
1.2
6.5
2.5
4.0
10.5
3.6
6.9
6.8
2.8
4.0
6.3
2.3
4.0
2.6
.9
1.6
3.1
3.7
-.6
2.2
.3
1.9
1.5
2.5
-1.1
3.8
2.7
1.1
4.2
1.2
2.9
5.2
1.2
4.0
6.2
2.5
3.7
8.3
3.1
5.2
6.2
3.2
3.0
7.1
2.7
4.4
4.6
-.3
4.9
Nonfarm
3
13.4
8.0
25.8
30.7
4
5
6
-9.4
-6.6
-2.8
-5.1
-4.7
-.5
3.3
2.7
.7
7
8
9
3.3
.7
2.6
6.3
3.0
3.3
Merchant wholesalers
Durable goods
Nondurable goods
10
11
12
5.4
1.3
4.1
Nonmerchant wholesalers
Durable CToods
Nondurable goods
13
14
15
II
-9.9
-15.5
Other
Durable goods
Nondurable goods
1
-20.8
7.7
-2.8
...
IV
-.8
27.9
-2.1
Retail trade
Durable goods
Automotive
Other
Nondurable goods
III
-5.9
5.6
-2.4
...
II
-3.4
-4.3
....
I
4.5
2
Wholesale trade
Durable goods
Nondurable goods
IV
1989
1988
1987
III
41.9
9.1
Farm
23.7
Manufacturing
Durable goods
NondurableCToods
II
I
7.1
1
Change in business inventories
1986
1985
_ -3
-1.1
22.0
76
SURVEY OF CURRENT BUSINESS
July 1989
Table 5.10.—Inventories and Final Sales of Business by Industry
[Billions of dollars]
Seasonally adjusted quarterly totals
Line
I
IV
Inventories1
1986
1985
II
1987
III
IV
I
II
1989
1988
III
IV
I
II
III
IV
I
II
1
863.5
857.2
856.8
854.6
853.3
868.4
884.9
895.2
920.2
936.6
960.8
2
71.5
69.8
70.2
69.2
66.3
67.5
70.0
68.1
69.2
71.0
75.0
77.6
75.7
78.2
78.2
3
4
5
792.1
460.4
331.7
787.4
464.7
322.7
786.5
465.0
321.5
785.4
464.3
321.1
787.0
463.3
323.7
800.9
470.5
330.4
814.9
479.0
335.9
827.0
485.1
341.9
851.0
502.2
348.8
865.6
509.3
356.3
885.8
519.1
366.7
906.4
534.2
372.2
926.5
548.0
378.4
948.4
561.8
386.6
955.9
566.1
389.8
6
7
8
333.5
221.1
112.4
324.4
218.2
106.2
323.1
217.0
106.1
321.0
216.2
104.8
321.1
214.8
106.3
322.6
214.3
108.3
325.7
215.8
109.8
332.3
220.0
112.3
340.3
226.2
114.1
346.6
230.3
116.3
353.8
235.0
118.7
359.6
239.2
120.4
367.1
245.6
121.5
376.5
253.2
123.4
378.6
254.7
123.8
9
10
11
181.0
115.3
65.7
180.8
117.1
63.7
181.7
118.4
63.3
184.7
121.1
63.6
184.1
120.0
64.2
187.0
121.5
65.5
190.5
123.5
67.0
191.5
122.9
68.5
198.0
127.7
70.3
204.9
133.0
71.8
210.0
133.2
76.8
215.6
138.5
77.1
218.4
140.6
77.8
221.6
142.9
78.7
222.3
146.0
76.3
Durable goods
Nondurable goods
12
13
14
155.3
101.2
54.1
157.0
103.2
53.8
158.3
104.8
53.5
161.1
107.3
53.9
160.4
105.9
54.5
162.4
107.2
55.2
166.1
109.4
56.7
166.7
108.6
58.1
172.8
112.9
60.0
179.1
117.7
61.4
184.0
117.7
66.3
188.9
122.4
66.5
190.9
123.7
67.2
193.1
125.8
67.4
195.4
129.0
66.3
Durable soods
Nondurable goods
15
16
17
25.7
14.1
11.6
23.8
13.8
10.0
23.4
13.6
9.7
23.5
13.9
9.7
23.7
14.0
9.7
24.6
14.2
10.3
24.4
14.1
10.3
24.7
14.3
10.4
25.1
14.8
10.3
25.7
15.3
10.4
26.0
15.5
10.5
26.7
16.1
10.6
27.5
16.9
10.6
28.5
17.1
11.3
26.9
17.0
10.0
18
19
20
21
22
180.9
89.5
45.3
44.2
91.4
186.3
94.3
48.6
45.7
92.0
186.1
93.8
47.8
46.0
92.3
184.6
90.9
43.5
47.4
93.8
185.5
91.4
44.8
46.6
94.1
193.2
97.4
50.5
47.0
95.8
199.3
101.4
52.1
49.3
97.9
201.4
102.3
52.4
50.0
99.0
208.0
107.2
55.1
52.1
100.8
207.1
104.2
51.0
53.2
102.9
212.5
108.1
54.0
54.0
104.5
218.2
112.3
56.9
55.4
105.9
223.6
116.2
59.4
56.8
107.4
229.0
1 19.0
62.3
56.7
110.0
231.3
118.4
62.2
56.2
112.9
Farm
...
Nondurable eoods
Wholesale trade
Retail trade
Durable goods
Automotive .
Other
Nondurable aoods
.
.
....
984.0 1,002.2 1,026.6 1,034.0
23
Final sales 2
Final sales of goods and structures 2
96.6
95.8
95.6
95.1
96.3
98.2
99.4
101.9
104.7
107.0
109.5
113.0
117.4
121.2
123.7
24
25
Other
290.3
172.1
293.1
172.5
297.1
174.4
301.9
177.0
305.6
177.9
308.9
177.5
316.0
181.1
323.3
185.7
325.9
185.9
333.1
189.6
341.0
194.7
345.8
196.8
354.4
202.4
360.0
205.4
365.2
208.1
2.88
2.65
4.51
2.83
2.60
4.44
2.79
2.57
4.42
2.81
2.59
4.51
2.80
2.58
4.50
2.77
2.56
4.45
2.82
2.61
4.58
2.81
2.60
4.56
2.82
2.60
4.55
2.85
2.62
4.60
2.83
2.61
4.58
2.85
2.63
4.62
2.83
2.62
4.59
Ratio of inventories to final sales
26
27
28
Inventories to final sales . .
.
Nonfarm inventories to final sales . . . .
..
Nonfarm inventories to final sales of goods and structures
2.97
2.73
4.60 •
2.92
2.69
4.56
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated from current-dollar inventories in this table is not the current-dollar change in business inventories (CBI) component
of GNP. The former is the difference between two inventory stocks, each valued at their respective end-of-quarter prices. The latter is the change in the physical volume of inventories valued at average prices of the quarter.
In addition, changes calculated from this table are at quarterly rates, whereas CBI is stated at annual rates.
2. Quarterly totals at monthly rates. Business final sales equals final sales less gross product of households and institutions, government, and rest of the world, and includes a small amount of final sales by farms.
Table 5.11.—Inventories and Final Sales of Business by Industry in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted quarterly totals
Line
IV
1987
1986
1985
I
n
HI
IV
I
II
1989
1988
III
IV
I
II
III
IV
I
II
, 1
833.3
843.8
845.6
844.1
838.9
843.4
846.8
848.5
862.6
871.2
876.5
885.9
890.5
896.6
2
75.2
76.3
75.4
75.2
72.8
72.2
71.9
70.4
70.6
72.1
71.1
71.2
67.8
69.7
70.3
Nonfarm
Durable goods
Nondurable goods
3
4
5
758.2
433.6
324.6
767.5
439.1
328.4
770.2
439.0
331.2
768.9
436.7
332.2
766.1
434.4
331.7
771.2
438.9
332.3
774.9
443.0
331.9
778.1
444 .1
334.0
792.0
454.0
338.0
799.0
456.5
342.6
805.4
460.3
345.1
814.7
469.6
345.1
822.7
476.7
346.0
826.9
481.2
345.7
831.8
483.8
348.0
Manufacturing
Durable goods
Nondurable goods
6
7
8
320.6
209.2
111.4
319.5
208.2
111.4
320.3
207.2
113.1
317.0
205.9
111.1
315.5
204.5
111.0
314.1
203.6
110.5
313.2
203.3
109.9
315.5
204.8
110.7
318.8
207.2
111.6
321.8
209.0
112.8
322.8
210.2
112.6
324.3
212.1
112.2
327.3
215.4
111.9
328.3
217.5
110.8
330.4
219.1
111.3
Wholesale trade
Durable goods
Nondurable goods
9
10
11
174.3
108.8
65.5
177.5
110.4
67.2
178.7
111.3
67.4
182.5
113.3
69.2
180.6
111.7
68.9
181.1
112.5
68.6
181.5
113.4
68.1
180.4
111.9
68.5
185.0
115.2
69.9
189.9
118.7
71.2
190.6
117.7
72.8
193.0
121.3
71.7
193.5
121.8
71.7
192.9
122.0
70.9
194.1
124.2
69.9
12
13
14
148.7
95.5
53.2
152.2
97.3
54.9
153.1
98.4
54.8
156.6
100.2
56.4
154.8
98.5
56.3
155.0
99.1
55.9
156.2
100.2
55.9
155.2
98.7
56.5
159.5
101.7
57.9
164.1
104.9
59.2
165.1
104.0
61.1
166.9
107.1
59.8
167.0
107.0
60.0
166.5
107.4
59.1
167.5
109.7
57.8
15
16
17
25.6
13.3
12.4
25.4
13.1
12.3
25.6
12.9
12.6
25.9
13.1
12.8
25.8
13.2
12.5
26.2
13.4
12.7
25.3
13.2
12.1
25.2
13.2
12.0
25.5
13.5
12.0
25.8
13.8
12.0
25.5
13.7
11.7
26.1
14.2
11.9
26.5
14.7
11.7
26.4
14.6
11.8
26.6
14.5
12.1
Retail trade
Durable goods
Automotive
Other
Nondurable goods
18
19
20
21
22
169.1
83.5
41.4
42.1
85.5
174.6
87.8
44.4
43.5
86.8
173.8
87.2
43.6
43.6
86.6
171.4
84.0
39.4
44.6
87.4
171.2
83.7
39.9
43.8
87.6
176.6
88.3
44.4
43.9
88.4
180.5
91.1
45.4
45.7
89.4
181.5
91.5
45.6
45.9
90.0
186.4
95.5
48.0
47.5
90.9
184.4
92.3
44.3
48.1
92.0
187.4
95.3
46.8
48.5
92.1
190.7
98.4
48.9
49.5
92.3
193.6
100.8
50.6
50.3
92.8
195.7
102.3
52.8
49.5
93.4
196.2
101.2
52.5
48.7
95.0
Other
23
94.1
95.8
97.4
98.1
98.8
99.4
99.7
100.7
101.7
103.0
104.6
106.7
108.2
110.0
111.2
24
25
261.2
161.9
263.1
162.7
265.0
163.9
266.4
164.5
269.7
166.8
270.3
165.5
274.1
167.6
278.3
171.1
279.0
171.2
283.5
173.9
287.7
177.2
288.5
177.0
291.9
179.5
294.3
181.4
295.6
182.0
26
27
28
3.19
2.90
4.68
3.21
2.92
4.72
3.19
2.91
4.70
3.17
2.89
4.67
3.11
2.84
4.59
3.12
2.85
4.66
3.09
2.83
4.62
3.05
2.80
4.55
3.09
2.84
4.63
3.07
2.82
4.60
3.05
2.80
4.54
3.07
2.82
4.60
3.05
2.82
4.58
3.05
2.81
4.56
3.05
2.81
4.57
Inventories '
>
Merchant wholesalers
Durable goods
Nondurable goods
. . . .
..
....
Nonmerchant wholesalers
Durable goods
Nondurable goods
Final sales 2 .
Final sales of goods and structures 2
902.1
Ratio of inventories to final sales
Inventories to final sales
.
. . ..
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods and structures
1. Inventories are as of the end of the quarter. Quarter-to-quarter changes calculated from this table are at quarterly rates, whereas the constant-dollar change in business inventories component of GNP is stated at annual
!S.
2. Quarterly totals at monthly rates. Business final sales equals final sales less gross product of households and institutions, government, and rest of the world, and includes a small amount of final sales by farms.
77
SURVEY OF CURRENT BUSINESS
July 1989
Table 5.12.—Fixed Investment by Type
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1986
1985
I
IV
II
1987
III
IV
I
II
1989
1988
III
IV
I
II
III
IV
I
II
Fixed investment
1
631.8
652.5
670.6
719.6
646.8
643.1
651.8
654.2
660.9
647.7
665.3
683.2
686.3
698.7
719.1
726.5
734.1
742.0
745.5
Nonresidential
2
442.9
435.2
444.3
487.2
451.3
439.3
434.5
431.2
435.8
423.9
437.5
457.0
458.6
472.7
487.1
493.2
495.8
503.1
511.5
Structures
Nonresidential buildings, excluding farm
Public utilities
Mining exploration, shafts, and wells
Other
3
4
5
6
7
153.2
96.2
26.9
26.3
3.9
139.0
91.9
27.6
14.9
4.7
133.8
92.6
24.6
11.5
5.1
140.3
97.8
26.1
12.0
4.5
155.9
98.8
26.9
25.0
5.1
150.8
96.4
27.7
21.2
5.5
138.1
90.9
27.9
14.7
4.5
133.6
89.6
27.4
12.2
4.4
133.7
90.6
27.3
11.4
4.4
129.4
88.5
24.1
12.4
4.5
129.5
90.5
24.1
9.7
5.2
137.3
95.1
24.8
12.1
5.3
138.9
96.4
25.5
11.7
5.3
137.1
95.6
24.5
12.3
4.7
139.9
98.9
24.6
12.2
4.2
142.0
98.7
26.8
12.3
4.1
142.5
97.9
28.6
11.0
4.9
144.7
101.3
28.8
9.7
4.8
142.6
99.3
28.3
9.6
5.4
Producers' durable equipment
Information processing and related
equipment.
Industrial equipment
Transportation and related equipment
Other
8
9
289.7
94.8
296.2
96.7
310.5
104.2
346.8
114.7
295.5
95.7
288.5
93.9
296.5
95.0
297.6
96.3
302.2
101.7
294.5
99.1
308.0
102.4
319.8
108.4
319.7
106.9
335.6
110.8
347.2
116,0
351.3
116.9
353.3
115.1
358.5
117.8
368.9
123.0
10
11
12
68.3
63.8
62.9
69.0
67.0
63.5
71.1
67.6
67.6
81.9
76.3
73.9
70.0
66.2
63.5
68.8
62.7
63.2
68.1
68.9
64.4
68.9
70.3
62.1
70.1
66.2
64.1
69.4
62.3
63.7
69.4
69.7
66.4
71.7
70.0
69.7
73.8
68.3
70.7
76.2
74.5
74.1
80.5
76.7
74.0
83.0
77.4
74.0
87.8
76.7
73.7
92.2
72.2
76.3
90.7
76.7
78.5
13
14
15
16
188.8
86.0
29.9
73.0
217.3
102.0
32.5
82.8
226.4
114.4
26.6
85.4
232.4
116.5
23.3
92.6
195.5
88.6
29.5
77.4
203.9
93.8
31.2
78.8
217.3
100.0
33.7
83.6
223.0
106.6
32.6
83.8
225.1
107.7
32.4
85.0
223.8
111.2
28.9
83.7
227.9
114.0
26.7
87.2
226.2
115.2
25.3
85.7
227.7
117.1
25.6
85.0
226.1
115.2
24.1
86.7
232.1
116.6
22.7
92.8
233.2
115.1
23.1
95.0
238.4
119.2
23.4
95.8
238.8
121.5
24.1
93.2
234.0
114.7
25.2
94.1
III
IV
Residential
Single-family structures
Multifamily structures
Other
.
Table 5.13.—Fixed Investment by Type in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1985
IV
1986
I
II
1987
III
IV
I
II
1988
III
IV
I
II
1989
I
II
1
627.9
634.1
650.3
687.9
640.4
634.2
635.2
631.0
636.0
628.2
643.4
664.9
664.6
672.7
692.0
696.1
690.8
696.6
698.8
2
453.5
438.4
455.5
493.8
460.9
448.5
438.7
430.9
435.7
430.9
445.6
472.8
472.7
483.6
497.8
501.0
492.7
501.0
510.2
Structures . . .
Nonresidential buildings, excluding farm
Public utilities
Mining exploration, shafts, and wells
Other
3
4
5
6
7
149.5
85.7
25.1
35.2
3.5
130.1
79.6
25.7
20.7
4.2
122.3
77.1
22.5
18.2
4.4
122.2
78.7
22.6
17.2
3,7
149.9
86.9
25.0
33.4
4.6
144.0
84.4
25.7
29.0
4.9
128.9
78.9
25.9
20.1
4.0
124.0
77.4
25.6
17.2
3.8
123.4
77.7
25.4
16.5
3.9
120.1
75.0
22.3
18.9
3.9
117.7
75.6
22.3
15.3
4.6
125.5
78.4
22.6
19.9
4.6
125.7
79.3
22.9
18.8
4.6
121.8
77.4
21.6
18.8
4.0
122.5
79.9
21.4
17.6
3.5
123.0
79.3
23.0
17.3
3.4
121.4
78.1
24.2
15.0
4.1
121.1
79.8
24.5
12.9
3.9
118.0
77.3
23.7
12.6
4.4
Producers' durable equipment
Information processing and related
equipment.
Industrial equipment
Transportation and related equipment
Other
8
9
304.0
119.3
308.3
128.7
333.2
152.9
371.6
174.2
311.1
125.3
304.5
125.6
309.8
127.5
306.8
127.0
312.3
134.8
310.7
139.5
327.9
147.9
347.3
162.3
347.0
161.9
361.8
168.2
375.3
177.7
378.0
178.6
371.3
172.2
379.9
180.3
392.2
189.9
10
11
12
64.6
61.5
58.6
62.3
59.9
57.4
61.9
58.9
59.6
68.4
65.7
63.3
65.3
61.9
58.5
63.0
58.2
57.7
61.7
62.2
58.4
61.8
62.0
56.0
62.6
57.3
57.5
61.0
53.8
56.4
60.6
60.9
58.5
62.5
61.0
61.5
63.2
59.8
62.1
64.5
65.0
64.1
67.6
66.5
63.4
69.5
66.7
63.2
72.0
64.7
62.4
74.9
60.7
63.9
73.2
64.0
65.2
13
14
15
16
174.4
79.3
27.5
67.6
195.7
91.4
29.1
75.1
194.8
97.4
22.7
74.7
194.1
96.2
19.3
78.6
179.4
81.1
27.0
71.3
185.7
85.4
28.4
71.9
196.5
89.9
30.3
76.4
200.1
95.2
29.1
75.8
200.3
95.3
28.6
76.4
197.3
97.5
25.3
74.5
197.8
98.1
23.0
76.7
192.1
96.7
21.2
74.1
191.9
97.2
21.3
73.4
189.1
95.1
19.9
74.2
194.2
96.7
18.8
78.7
195.1
95.3
19.1
80.7
198.1
97.9
19.2
80.9
195.6
98.3
19.5
77.8
188.6
91.1
20.0
77.4
Fixed investment
.
Nonresidential
Residential
Single-family structures .
Multifamily structures
Other
..
78
SURVEY OF CURRENT BUSINESS
July 1989
6. Product, Income, and Employment by Industry
Tables 6.1 and 6.2 are not available. See the box on NIPA table changes that
appears on page 11 of the July 1989 SURVEY OF CURRENT BUSINESS.
Table 6.3B.—National Income Without Capital Consumption Adjustment by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1985
IV
1986
I
II
1987
III
IV
I
II
1988
III
IV
I
II
1989
III
IV
I
1
3,196.6 3,374.7 3,638.3 3,952.8 3,270.8 3,320.2 3,354.8 3,383.0 3,441.0 3,520.8 3,588.9 3,669.3 3,774.2 3,831.0 3,911.7 3,985.2 4,083.4 4,178.4
Domestic industries
2
3,155.9 3,340.3 3,607.8 3,919.5 3,228.8 3,279.8 3,322.5 3,347.4 3,411.6 3,488.9 3,559.9 3,639.7 3,742.7 3,794.5 3,881.7 3,953.0 4,048.9 4,143.9
Private industries
3
II
2,687.0 2,844.1 3,078.5 3,352.6 2,749.5 2,794.2 2,830.2 2,848.5 2,903.7 2,971.1 3,034.4 3,107.0 3,201.3 3,239,4 3,318.9 3,382.0 3,470.1 3,549.6
National income without capital
consumption adjustment.
4
5
6
Manufacturing
Durable goods
Nondurable goods
,
» .,
Transportation and public utilities
Tran spoliation
Communication
Electric, gas, and sanitary services
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
. ..
Government and government enterprises
Rest of the world
77.0
40.0
169.1
81.9
31.3
185.0
90.8
30.5
197.2
90.4
34.4
211.2
75.1
37.8
174.4
73.5
40.0
178.7
91.5
31.8
182.9
78.3
29.1
187.1
84.5
24.2
191.4
92.7
26.2
193.1
88.6
29.1
196.6
83.1
31.8
197.6
98.7
34.9
201.4
95.0
34.3
204.0
96.1
34.5
210.4
88.0
34.8
213.2
82.5
33.9
217.4
109.5
35.0
220.5
7
8
9
671.2
395.8
275.4
673.6
406.6
267.0
718.7
422.9
295.8
788.6
455.0
333.6
682.1
399.0
283.0
670.3
405.2
265.1
670.0
404.8
265.1
665.9
403.8
262.2
688.3
412.7
275.6
690.7
420.8
269.9
706.9
418.6
288.3
732.7
427.8
304.9
744.6
424.6
320.0
767.1
439.6
327.5
781.1
453.6
327.5
789.9
457.4
332.6
816.1
469.2
346.9
817.1
469.9
347.2
10
11
12
13
Agriculture, forestry, and fisheries
Mining
Construction
,
252.0
105.9
68.9
77.2
265.0
112.2
73.5
79.3
278.7
120.0
80.6
78.1
300.2
131.1
83.6
85.5
253.7
107.3
70.4
76.0
260.8
108.4
73.7
78.7
263.4
109.4
72.7
81.3
268.0
113.6
73.2
81.2
267.8
117.4
74.3
76.1
269.7
118.3
76.2
75.3
277.6
118.9
79.8
78.9
280.6
120.2
83.1
77.3
286.9
122.5
83.3
81.0
286.9
124.8
81.1
81.0
298.1
131.0
83.1
84.0
304.7
133.6
84.5
86.5
311.1
134.9
85.7
90.6
314.5
137.1
87.8
89.7
14
15
16
17
195.4
279.6
425.9
576.8
202.8
296.8
466.3
641.4
214.9
313.3
520.0
714.4
234.5
335.6
568.8
789.0
194.3
284.2
445.3
602.7
198.0
294.4
456.7
621.7
199.3
292.5
465.3
633.6
206.0
300.5
466.6
646.9
207.6
299.6
476.6
663.6
210.0
305.7
498.4
684.4
209.5
309.8
512.9
703.5
218.0
317.6
523.1
722.4
222.2
320.0
545.4
747.2
227.4
326.4
546.2
752.2
229.2
333.1
558.1
778.2
236.5
338.5
576.4
800.0
244.9
344.2
594.5
825.5
244.7
346.6
613.3
848.3
18
468.9
496.2
529.3
566.9
479.3
485.6
492.3
498.9
507.9
517.7
525.5
532.6
541.4
555.1
562.8
571.0
578.8
594.3
19
40.7
34.4
30.5
33.3
42.0
40.3
32.3
35.7
29.4
31.9
28.9
29.6
31.5
36.5
30.0
32.3
34.5
34.5
35.5
79
SURVEY OF CURRENT BUSINESS
July 1989
Table 6.4B.—Compensation of Employees by Industry
Table 6.5B.—Wages and Salaries by Industry
[Millions of dollars]
[Millions of dollars]
Line
1
2
3
4
5
6
7
8
9
10
11
Compensation of employees
Domestic industries
.. .
Private industries
Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals except fuels
Construction
12
Manufacturing
13
Durable goods
14
Lumber and wood products
.,
15
Furniture and fixtures
16
Stone clay and glass products
17
Primary metal industries
18
Fabricated metal products
19
Machinery, except electrical
20
Electric and electronic equipment
21
Motor vehicles and equipment
22
Other transportation equipment
23
Instruments and related products i
24
25
Miscellaneous manufacturing industries
CT
Nondurable oods
26
Food and kindred products
27
Tobacco manufactures
28
29
Textile mill products
'
-.
Apparel and other textile products
30
Paper and allied products
31
Printing and publishing
32
Chemicals and allied products .. ..
.. .. 33
34
Petroleum and coal products
Rubber and miscellaneous plastic products
35
Leather and leather products
36
Transportation and public utilities
37
Transportation
38
Railroad transportation
39
Local and interurban passenger transit
40
41
Trucking and warehousing
Water transportation
42
43
Transportation by air
44
Pipelines, except natural gas
Transportation services
45
Communication
46
Telephone and telegraph
47
Radio and television broadcasting.
48
Electric gas and sanitary services ..
49
Wholesale trade
.
50
Retail trade
51
Finance, insurance, and real estate
52
Banking
53
Credit agencies other than banks
54
Security and commodity brokers, and services
55
Insurance carriers
56
Insurance agents and brokers, and services
57
Real estate
58
Holding and other investment companies
59
Services
60
Hotels and other lodging places
61
62
Personal services
63
Business services
64
Auto repair, services, and garages
Miscellaneous repair services
65
66
Motion pictures
.
67
Health services
68
Legal services
69
Educational services
70
Social services and membership organizations
71
72
Social services <
Membership organizations
73
74
Miscellaneous professional services
Private households ...
75
76
Government and government enterprises
Federal
77
Government
78
Civilian
.
79
Military 1
80
81
Government enterprises
82
State and local
83
Government
Education
. .
84
85
Other
86
Government enterprises
87
Rest of the world
Addenda:
88
Nonfarm business
..
89
1. Includes Coast Guard.
1985
1986
1987
1988
2,367,548 2^11,384 2,690,024 2,907,647
2,367,529 2,511,356 2,689,984 2,907,664
1,898,660 2,015,162 2,160,680 2,340,749
22974
21,393
18,710
19,511
9345
9508
9930
10061
9,202
10,166
11,463
12,913
34,722
30,273
28,477
29,808
1,684
1,832
2219
1,818
7,643
7,272
7,960
7011
17,543
21,629
15,794
16,707
3403
3301
3593
3 871
124,640 134,046 142,578 155,066
563,178 579,190 599,050 640,051
360,486 367,992 376,664 402 662
15,173
16,102
17,444
18,752
11,341
9,972
10,569
12,075
16975
18 185
17632
19379
29,155
28,082
28,352
31 135
42,624
42,381
42,807
45496
70,647
69,488
70,921
76,518
66146
67302
68562
72 197
38,320
38,899
38 193
40501
41,556
45,630
48,318
50207
23,130
21,944
23,474
26,438
8,534
8,217
9,067
9,964
202 692 211 198 222 386 237 389
40971
42876
44695
46978
2,360
2,366
2,481
2645
13242
14197
15862
15350
16,682
17,089
17,641
18,471
21,986
23,043
24,151
25,515
38 393
35907
41 350
45443
42293
39,110
40,369
46477
9,622
9,339
9,225
9,540
20,046
20,949
22,564
23,694
2,766
2,577
2,764
2,636
172,747 179,268 189,372 199,922
92523
98764 105 966
89,039
15,429
15,217
16,003
14979
4,893
5,237
. 5,585
6,137
40775
35787
37450
44528
5,722
5,849
5,720
5836
19,375
21,134
23,265
25364
790
796
808
865
6,761
7,394
6,336
8,257
48656
49672
51692
53 110
42430
45322
41,795
44268
7,242
7,424
6,861
7788
35,052
37,073
38,916
40846
158,577 167,056 178,322 196,325
225,689 242,066 258,617 278,104
162,480 185,182 205,736 223,446
45,047
51,204
41,735
47,553
21,066
23,680
24,490
17,630
20,082
25,876
32,530
31,257
36,502
40,879
44,725
48,611
14,382
18,494
16,316
20,839
27996
25213
30785
34460
8,002
9,242
6,936
11,312
437,917 478,570 537,135 595,053
20,949
23,079
19,293
25,584
15,042
16,272
14,076
17,829
115,254
90393 101,621
129 704
14,918
16,234
13,761
17,719
7,479
7,235
7,836
8948
5,545
5,871
6,753
7,290
13 602
15001
12570
16648
140,725 152,495 173,535
190,319
28,082
33,975
38,620
24,331
26,077
28,342
31,307
23,964
40,224
37,085
43,769
48,589
15,028
16,836
18,816
21 317
23,388
22,057
24,953
27,272
47,889
53,132
43,131
39,906
9,079
9,196
9,364
9,033
468,869 496,194 529,304 566,915
168,999
172,845 182,665
194 170
140,223 143,539 150,869
159,313
71,514
72,068
76,246
81,906
71,471
74,623
77,407
68,709
31,796
34,857
28,776
29,306
299,870 323,349 346,639 372,745
278,752 300,260 322,081 346,466
148,774 159,035 169,526
182,437
141,225 152,555
164,029
129,978
23,089
24,558
26,279
21,118
-16
29
43
19
142 327 153,547 169,334 188015
1,796,719 1,904,665 2,037,770 2,203,809
Line
Wages and salaries
.
Domestic industries
Private industries
Agriculture, forestry, and fisheries
,
»
Agricultural services, forestry, and fisheries
Mining
Metal mining
Coal minin0
Oil and gas extraction
.
. .
Nonmetallic minerals, except fuels...
Construction
Manufacturing
Durable goods
Lumber and wood products
.
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastic products
Leather and leather products
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
Transportation services
Communication
Telephone and telegraph
Radio and television broadcasting
Electric gas and sanitary services
Wholesale trade
Retail trade
Finance, insurance, and real estate
Banking
Credit agencies other than banks
Security and commodity brokers, and services
Insurance carriers
«
Insurance agents and brokers and services
Real estate
Holding and other investment companies
Services
Hotels and other lodging places
Personal services
Auto repair, services, and garages
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
.
....
Legal services
Educational services
Social services and membership organizations
Social services
Membership organizations
Miscellaneous professional services
Private households
Government and government enterprises
Federal
Government
Civilian
Military1
Government enterprises
State and local
Government
....
Education
Other
Government enterprises
Rest of the world
1. Includes Coast Guard.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
, 20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
. . . 73
74
75
76
77
. . 78
79
80
81
82
83
84
85
86
87
1985
1986
1987
1988
1,975,190 2,094,798 2,249,359 2,429,034
1,975,171 2,094,769 2,249,316 2,429,050
1,603,357 1,701,064 1,830,084 1,982,556
16,164
16,921
19,934
18,516
7880
8295
7965
8443
9,041
11,491
8,199
10,221
28,992
23,576
25,190
24,616
1,752
1,458
1,331
1,428
5979
5664
5446
6234
18550
15042
13477
14 182
2838
3007
2750
3236
102,890 110,230 117,520 127,778
460,857 473,218 490,302 523,978
294 1 19 299 771 307 254 328 553
12460
13 151
14277
15309
8314
8802
9487
10080
14,283
13,784
14,740
15672
22544
21 599
21 779
23969
34495
34673
34413
36820
57,425
58,422
58808
63466
57,734
60,762
55,571
56,569
29340
29687
29930
31 266
36,823
38,927
33,541
40421
19,505
19,840
18,460
22,381
7 189
6923
7649
8407
166738 173,447 183 048 195 425
34,785
36,262
33,357
38,036
1 756
1 761
1 886
2019
11 213
12009
13035
13453
14162
14476
14966
15666
19,127
18,280
20029
21 133
30,679
32,765
35,378
38897
38,304
33,093
34,798
32,105
6,525
6,247
6,156
6,388
16,350
17,040
18,345
19,230
2,144
2,311
2,193
2,299
139,275 144,153 152,491 160,421
72,930
75,406
80,449
85,816
11 980
11 768
11 292
12567
4494
5248
4794
4238
29,535
30825
33617
36561
4,902
4,913
4,995
5,033
16,876
18,499
20,076
15,581
702
697
714
764
5,621
6,155
6880
5,274
38,191
38,995
40,735
41,791
32,232
32,705
34,277
35,016
6,290
6,458
6,775
5,959
29752
28 154
31 307
32814
137,471 144,578 154,760 170,477
196,471 210,098 224,663 240,973
137,598 157,348 175,887 191,221
36,249
38,525
33,551
41651
18 276
20609
21 289
15 196
23,543
18,196
28,543
29,676
34,305
37,716
41,048
30,538
12443
14094
16054
18 122
26925
24401
30 148
22064
5,610
6,480
7,515
9,287
383,639 419,328 472,369 523,158
20020
22 154
18 169
16814
13,510
12,652
14,649
16,039
88940 101 172 113739
79073
14,370
12,158
13,166
15,663
6465
6788
6265
7737
4862
5 140
5979
6445
13,082
11,844
14,532
10,977
120 525 130 854 149812 164 397
24,907
30,362
34542
21,550
22681
24689
27297
20804
39,604
36,307
33,520
43,896
13,541
15,192
16,996
19,225
19979
21 115
22608
24671
38,443
35,584
47,545
42,828
9,014
8,902
9,172
8,855
371,814 393,705 419,232 446,494
129,098 131,893 138,366 144,955
105 685 108 038 112971 117656
57,997
60,745
57,754
64,385
50,041
47,931
52,226
53,271
23,413
23,855
25,395
27,299
242716 261 812 280 866 301 539
225,223 242,760 260,606 279 875
118,678 127,212 135,592
145,680
106 545 115548 125014 134 195
19052
20260
21 664
17493
29
43
-16
19
80
SURVEY OF CURRENT BUSINESS
July 1989
Table 6.6B.—Full-Time and Part-Time Employees by Industry
Table 6.7B.—Full-Time Equivalent Employees by Industry
[Thousands!
[Thousands]
Line
Full-time and part-time employees
Domestic industries
Private industries
Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone clay, and glass products .....
Primary metal industries
.. . .
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products
Tobacco manufactures
k
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastic products
Leather and leather products
Transportation and public utilities
Transportation.. . .
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
Transportation services
Communication
Telephone and telegraph
Radio and television broadcasting
Electric gas and sanitary services
Wholesale trade
Retail trade
Finance, insurance, and real estate
Banking ... .
Credit agencies other than banks .
Security and commodity brokers, and services
Insurance carriers
Insurance agents and brokers, and services
Real estate
. . . .
Holding and other investment companies
Services
..
Hotels and other lodging places
Personal services
Business services
Miscellaneous repair services
Motion pictures
.
Health services
Legal services
Social services and membership organizations
Social services
Membership orCTanizations
Miscellaneous professional services
Private households
Government and government enterprises
Federal
Government
Civilian
Military '
Government enterprises
State and local
Government
Education
Other
Government enterprises
Rest of the world
1. Includes Coast Guard.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
. ... 26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
.... 54
55
56
57
58
59
60
61
62
63
64
65
*
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
1985
05,994
06,016
85,739
1,708
1,016
692
925
45
191
578
111
4,814
19,370
11,557
709
496
591
808
1,477
2,194
2,200
879
1 102
718
383
7,813
1,608
61
703
1 129
679
1,451
1 047
176
789
170
5,278
3048
355
289
1 398
187
519
19
281
1,324
1,086
238
906
5,782
17,799
6,170
1,707
759
368
1,327
571
1,266
172
23,893
1,402
1,142
4,527
796
340
227
862
6,430
771
1 565
2,879
1332
1,547
1,356
1,596
20,277
6,339
5,398
2,174
3224
941
13,938
13,112
7,199
5,913
826
-22
1986
07,930
07,960
87,376
1,720
990
730
774
41
177
446
110
4,966
19,066
11,276
722
501
588
751
1,431
2,053
2,124
872
1 150
703
381
7790
1,616
58
710
1 107
676
1,485
1 026
167
792
153
5,290
3090
326
297
1 426
178
556
18
289
1,288
1,050
238
912
5,825
18,354
6,497
1,735
840
408
1,400
598
1,328
188
24,884
1,451
1,179
4,889
830
338
233
892
6,674
831
1595
2,973
1418
1,555
1,413
1,586
20,584
6413
5,422
2,155
3267
991
14,171
13,320
7,307
6,013
851
-30
1987
10,817
10,859
89,891
1,790
1,003
787
716
44
162
398
112
5,080
19,123
11,233
754
517
588
741
1407
2,025
2,083
853
1 188
689
388
7,890
1,627
55
730
1 104
683
1,532
1025
162
825
147
5,424
3221
304
309
1505
179
603
18
303
1,285
1,049
236
918
5,942
18,972
6,778
1,742
901
463
1,451
629
1,383
209
26,066
1,521
1,230
5,322
869
338
237
920
6,964
897
1 631
3,084
1,506
1,578
1,488
1,565
20,968
6,501
5,482
2,177
3,305
1,019
14,467
13,609
7,452
6,157
858
-42
Line
1988
14,014
14,066
92,802
1,872
1,019
853
718
50
151
402
115
5,234
19,496
11,482
776
529
604
111
1432
2,085
2,089
849
1204
737
405
8014
1,639
55
733
1 101
693
. 1,589
1 063
160
834
147
5,562
3357
290
325
1 588
175
642
18
319
1,278
1,042
236
927
6,108
19,580
6,914
1,734
907
462
1,484
663
1,443
221
27,318
1,601
1,283
5,694
907
370
246
940
7,276
949
1 719
3,261
1,617
1,644
1,562
1,510
21,264
6,503
5,462
2,188
3,274
1,041
14,761
13,892
7,646
6,246
869
-52
Full-time equivalent employees '
Domestic industries
Private industries
Agriculture, forestry, and fisheries
Farms
Agricultural services forestry and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone clay and glass products
Primary metal industries
Fabricated metal products
Machinery except electrical
Electric and electronic equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastic products
Leather and leather products
Transportation and public utilities
Tran sportation
Railroad transportation
Local and interurban passenger transit . .
Trucking and warehousing
Water transportation
Transportation by air
Pipelines, except natural gas
Transportation services
Communication
Telephone and telegraph
Radio and television broadcasting
Electric CTas and sanitary services
Wholesale trade
Retail trade
Finance, insurance, and real estate
Bankin0
Credit agencies other than banks
Security and commodity brokers, and services
Insurance carriers
Insurance aaents and brokers, and services
Real estate
Holding and other investment companies
Services
Hotels and other lodging places
Personal services
Business services
Auto repair, services, and garages
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
Legal services
Educational services
Social services and membership organizations
Social services
Membership organizations
Miscellaneous professional services
Private households
Government and government enterprises
Federal
Government
.
Civilian
Military 2
Government enterprises
State and local
Government *
Education
Other
Rest of the world
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
1985
93,682
93,704
76,851
1,458
870
588
905
45
186
566
108
4,519
18,773
11,313
677
476
576
795
1,439
2153
2,164
871
1,094
708
360
7460
1,527
61
678
1,065
667
1,321
1,032
174
772
163
4,988
2,882
342
268
1,325
177
490
19
261
1,217
999
218
889
5,496
14,444
5,800
1,623
726
352
1,276
541
1 117
165
20,468
1,214
970
4,040
748
312
177
690
5,810
708
1,370
2,429
1,154
1,275
1,247
753
16,853
5,298
4,438
2,092
2,346
860
11,555
10,764
5,639
5,125
791
-22
1986
95,432
95,462
78,301
1,476
848
628
756
41
172
436
107
4,673
18,492
11,046
687
486
573
739
1,398
2015
2,094
864
1,142
690
358
7446
1,539
57
688
1,050
664
1,352
1,009
165
111
145
5,018
2933
314
276
1,358
170
527
18
270
1,190
971
219
895
5,537
14,869
6,109
1,650
804
390
1,347
566
1 172
180
21,371
1,253
996
4,372
779
310
181
707
6,033
763
1,397
2,525
1,236
1,289
1,302
753
17,161
5,296
4,440
2,080
2,360
856
11,865
11,043
5,783
5,260
822
-30
1987
98,127
98,169
80,696
1,559
859
700
695
43
157
387
108
4,780
18,603
11,023
728
502
575
732
1,377
1 992
2,053
843
1,178
676
367
7 580
1,557
54
711
1,060
674
1,402
1,008
160
812
142
5,132
3050
292
287
1,430
170
570
18
283
1,182
965
217
900
5,674
15,403
6,370
1,655
862
443
1,395
595
1 220
200
22,480
1,320
1,051
4,771
817
311
185
732
6,295
830
1,430
2,624
1,314
1,310
1,374
740
17,473
5,364
4,482
2,111
2371
882
12,109
11,280
5,892
5,388
829
-42
1988
100,943
100,995
83,243
1,646
873
773
705
50
148
395
112
4,940
18,959
11,263
746
512
590
763
1,402
2047
2,060
841
1,194
723
385
7696
1,573
54
714
1,055
682
1,453
1,048
158
817
142
5,267
3 180
279
302
1,509
166
608
18
298
1,177
960
217
910
5,822
15,915
6,485
1,645
866
441
1,424
626
1,272
211
23,504
1,392
1,103
5,147
854
341
192
744
6,425
875
1,482
2,780
1,413
1,367
1,444
725
17,752
5,400
4,492
2,161
2,331
908
12,352
11,512
6,044
5,468
840
-52
1. Full-time equivalent employees equals the number of employees on full-time schedules plus the number
of employees on part-time schedules converted to a full-time basis. The conversion is made by multiplying
the number of employees on part-time schedules by the ratio of average weekly hours per employee on parttime schedules to average weekly hours per employee on full-time schedules in each industry.
2. Includes Coast Guard.
81
SURVEY OF CURRENT BUSINESS
July 1989
Table 6.8B.—Wages and Salaries Per Full-Time Equivalent Employee by
Industry
Table 6.9B.—Self-Employed Persons by Industry
[Thousands]
[Dollars]
Line
Line
Wages and salaries per full-time equivalent
employee.
Domestic industries
Private industries
Agriculture, forestry, and fisheries
Agricultural services, forestry, and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products . .
Petroleum and coal products ....
Rubber and miscellaneous plastic products
Leather and leather products
Transportation and public utilities
Transportation
Railroad transportation .
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines, except natural gas
Transportation services
Communication
Telephone and telegraph
Radio and television broadcasting
Electric, gas, and sanitary services
Wholesale trade
Retail trade .
Finance, insurance, and real estate
Banking
Credit agencies other than banks
Security and commodity brokers, and services
Insurance carriers
Insurance agents and brokers, and services
Real estate
Holding and other investment companies
Services
Hotels and other lodging places
Personal services
Business services
Auto repair, services, and garages
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
Legal services
Educational services
,
Social services and membership organizations
Social services
Membership organizations
Miscellaneous professional services
Private households
Government and government enterprises
Federal
Government
Civilian
Military l
Government enterprises
State and local
Government
Education
Other
Government enterprises
Rest of the world
1. Includes Coast Guard.
1985
1986
1987
1988
1
21,084
21,951
22,923
24,063
Self-employed persons '
Agriculture forestry and fisheries
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
21079
20863
11086
9 155
13 944
32,035
32400
33516
32774
25,463
22768
24,549
25998
18405
17466
23931
28,357
23,915
27 135
25680
34084
30659
26073
19231
22351
21 845
28787
16538
13,298
27,406
23224
31 109
37 500
21,179
14,178
27,922
25 305
36746
15 813
22,291
28435
31 798
36,947
20,207
31 381
32264
27,335
31,669
25,013
13,602
23,724
20672
20931
51,693
23933
23000
19753
34,000
18,743
13,850
13043
19,573
16,254
20080
27469
15909
20,744
30438
15,185
13,800
11 734
15,670
28,536
11 760
22,062
24367
23,814
27607
20431
27,224
21,005
20924
21,046
20,789
22 115
21 943
21 725
11464
9292
14396
33,320
32463
34762
34500
26523
23589
25590
27 138
19 143
18 111
24927
29227
24675
28499
27015
34641
32244
28 268
20081
23 294
22602
30895
17 455
13787
28806
24234
32798
37 861
21,931
14786
28727
25710
38 153
16283
22699
28900
32023
38722
20819
32769
33 682
28721
33,242
26,111
14,130
25,757
21 969
22731
60,'367
25468
24901
20820
36000
19621
14500
13 564
20343
16,901
20855
28 398
16752
21 690
32644
16236
14,379
12291
16381
29526
11 822
22,942
24904
24333
27 883
21 204
27868
22066
21 983
21998
21967
23 178
22 913
22679
11877
9657
14601
33,922
33 ^09
36076
34824
27 843
24586
26356
27 874
19'gll
18*898
25 635
29753
25 180
29522
28 122
34804
33045
29349
2o'842
24 149
23290
34926
18 333
14 119
29717
25234
34522
38475
22,592
15444
29714
24051
23 gig
Agricultural services forestry and fisheries
Mining
26377
40301
16704
23508
28 835
32454
39667
21749
34463
35520
29760
34,786
27,275
14,586
27,612
23278
23908
64,431
27037
26982
22070
37575
21013
15 167
13938
21 206
17,589
21 826
32319
17872
23799
36581
17265
15093
12935
17258
31 170
12 181
23,993
25795
25205
28775
22027
28793
23 195
23 103
23013
23202
24439
12 111
9671
14865
34,916
35040
36797
35904
28 893
25866
27637
29 171
20521
19688
26563
31 414
26262
31 004
29496
37 177
33 853
30956
21 836
25393
24 181
37389
18 842
14849
30987
26770
36550
40430
23^537
16 190
30453
26986
40473
17377
24229
30090
33020
42 M4
23087
35506
36475
31221
36059
29282
15 141
29,487
25320
24583
67,293
28826
28949
23701
44014
22,258
15915
14541
22098
18,341
22689
33568
19532
25587
39477
18419
15790
13606
18048
32926
12651
25,152
26844
26,192
29794
22853
30,065
24,412
24312
24103
24,542
25790
Manufacturing
.
Durable goods
Transportation and public utilities
Wholesale trade
Retail trade
1985
1986
1987
1988
1
2
3
4
5
6
7
8
9
10
11
9,327
1,495
1,214
281
20
1,312
351
214
137
318
308
1,499
563
3,461
9,369
1,488
1,185
303
26
1,370
384
223
161
319
297
1,512
557
3,416
9,665
1,477
1,142
335
27
1,386
368
213
155
336
315
1,549
598
3,609
9,956
1,438
1,118
320
29
1,429
407
228
179
345
337
1,508
625
3,838
12
13
14
1. Consists of active proprietors or partners who devote a majority of their working hours to thei
unincorporated businesses.
82
SURVEY OF CURRENT BUSINESS
Table 6.10B.—Persons Engaged in Production by Industry
July 1989
Table 6.11.—Hours Worked by Full-Time and Part-Time Employees by
Industry
[Thousands!
[Millions of hours]
Line
Persons engaged in production l
Domestic industries
Private industries
Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
Construction
Manufacturing
Durable goods
.....
Lumber and wood products
Furniture and fixtures
Stone clay and glass products
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
Motor vehicles and equipment .
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastic products
Leather and leather products
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air ...
Pipelines except natural gas
Transportation services
Communication
Telephone and telegraph
Radio and television broadcasting
Electric gas and sanitary services
Wholesale trade
Retail trade
Finance, insurance, and real estate
Banking
Credit agencies other than banks
Insurance carriers
'
Insurance agents and brokers, and services
Holding and other investment companies
Services
Hotels and other lodging places
Personal services
Auto repair services and garages
Miscellaneous repair services
.
Amusement and recreation services
Legal services
. ..
Educational services
Social services and membership organizations
Membership organizations
Miscellaneous professional services
Private households
Government and government enterprises
Federal
.
Government
Civilian
Military 2
Government enterprises .
State and local
Other
Government enterprises
Rest of the world
. .
1985
1986
1987
1988
Line
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
. . . 31
32
33
. . . 34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
103,009
103,031
86,178
2,953
2,084
869
925
46
186
584
109
5,831
19,124
11527
731
497
593
798
1,458
2,190
2171
875
1,102
714
398
7597
1,545
61
687
1,084
668
1,400
1 035
174
776
167
5,306
3,186
342
318
1,546
184
498
19
279
1,224
1,002
222
896
5,804
15,943
6,363
1,625
734
409
1 276
685
1 469
165
23,929
1571
1,503
4650
1,090
555
283
751
6,142
921
1,470
2,607
1,302
1,305
1,633
753
16,853
5,298
4,438
2,092
2,346
860
11,555
10764
5,639
5,125
791
-22
104,801
104,831
87,670
2,964
2033
931
782
42
173
459
108
6,043
18,876
11269
742
507
588
742
1,416
2,057
2 103
869
1 149
696
400
7 607
1574
57
694
1,076
666
1431
1 012
165
783
149
5,337
3,232
314
322
1576
179
534
18
289
1,203
981
222
902
5,834
16,381
6,666
1,651
809
451
1 347
719
1509
180
24,787
1598
1,523
5003
1,129
541
296
765
6,350
952
1,481
2725
1,403
1,322
1,671
753
17,161
5,296
4,440
2,080
2,360
856
11,865
11043
5,783
5,260
822
-30
107,792
107,834
90,361
3,036
2,001
1,035
722
45
159
406
112
6,166
18,971
11236
792
518
591
733
1,396
2,028
2060
848
1,183
680
407
7735
1,596
54
717
1,086
676
1,471
1 012
161
816
146
5,468
3,371
292
333
1,675
178
572
18
303
1,191
969
222
906
5,989
16,952
6,968
1,657
867
516
1,395
744
1 589
200
26,089
1,665
1,590
5,478
1,155
542
304
789
6,640
1,047
1,530
2,865
1,517
1,348
1,744
740
17,473
5,364
4,482
2,111
2,371
882
12,109
11,280
5,892
5,388
829
-42
110,899
110,951
93,199
3,084
1,991
1,093
734
52
149
417
116
6,369
19,366
11 491
808
531
609
764
1,420
2,082
2069
846
1,203
728
431
7875
1,606
54
721
. 1,078
684
1,552
1 051
158
824
147
5,612
3,509
279
361
1745
170
614
18
322
1,185
965
220
918
6,159
17,423
7,110
1,647
872
509
1,424
780
1 667
211
27,342
1,763
1,712
5,930
1,202
560
313
812
6,788
1,099
1,585
3,023
1,616
1,407
1,830
725
17,752
5,400
4,492
2,161
2,331
908
12,352
11,512
6,044
5,468
840
-52
1. Equals the number of full-time equivalent employees (table 6.7) plus the number of self-employed
persons (table 6.9). Unpaid family workers are not included.
2. Includes Coast Guard.
1985
1986
1987
1988
1
177,410 178,958 184,204
2
177,456 179,020 184,291 189,467
Private industries
3
146,733 147,721 152,508 157,347
Agriculture, forestry, and fisheries
Farms
Agricultural services forestry and fisheries
4
5
6
Mining
7
1,933
1569
1,465
1,462
8
9277
9368
9,546
9861
9
10
11
37,214
22,419
14795
36,540
21,738
14802
36,803
21,632
15 171
37,509
22,202
15307
12
13
14
15
9,791
5,641
2,409
1,741
9,780
5677
2,378
1,725
10,079
5,993
2,351
1,735
10,382
6,299
2,326
1,757
Hours worked by full-time and part-time employees
Domestic industries
Construction
Manufacturing
Durable goods
Nondurable goods
.
...
Transportation and public utilities
Transportation
....
.
. .
Communication ...
.
...
Electric, gas, and sanitary services
.
.. ,
3,101
2028
1073
3,103
1 981
1 122
189,359
3,201
1,991
1210
3,377
2058
1319
Wholesale trade
16
10,749
10,685
10,925
11,230
Retail trade
17
26232
26085
27,424
28,206
Finance insurance and real estate
18
10,803
11228
11,745
11,882
Services
19
37633
39363
41 320
43438
Government and government enterprises
Government
Government enterprises
20
21
22
30,723
27,508
3,215
31,299
27,938
3,361
31,783
28,363
3,420
32,120
28,644
3,476
23
-46
-62
-87
Rest of the world
,
-108
Table 6.12.—Employer Contributions for Social Insurance by Industry
[Millions of dollars]
Line
1985
1986
1987
1988
Private industries,
,
1
204,806 217,326 227,846 249,676
2
Employer contributions for social insurance
Domestic industries
204,806 217,326 227,846 249,676
3
128,567 136,162 142,003 157,089
Agriculture, forestry, and fisheries
4
1,540
1,540
1,766
Mining
5
2,173
1,921
1,811
1,991
Construction
6
9636
10351
10718
11 813
7
g
9
,
38613
24,821
13,792
39539
25,170
14,369
39,608
24,892
14,716
43,002
27,047
15,955
10
11
12
13
12276
7604
2,674
1,998
12865
7976
2,756
2,133
13321
8,299
2,819
2,203
14519
9,156
2,978
2,385
14
10,688
11,263
11,696
13,140
15
16,531
17629
18,315
20,123
Manufacturing
Durable goods
Nondurable goods
Transportation and public utilities
Transportation
Communication
Electric, gas, and sanitary services
Wholesale trade
Retail trade
.
.
1,851
Finance insurance, and real estate.
16
9,960
11,315
12,199
13,667
Services
17
27,150
29,739
32,569
36,984
18
76,239
81,164
85,843
92,587
Government and government enterprises..
Rest of the world
19
SURVEY OF CURRENT BUSINESS
July 1989
83
Table 6.13.—Other Labor Income by Industry and by Type
Table 6.14B.—Nonfarm Proprietors' Income by Industry
[Millions of dollars]
[Millions of dollars]
Line
Other labor income
1
1985
1986
1987
187,552 199 260 212 819 228 937
2
3
Private industries
Agriculture, forestry, and fisheries
Mining
1
Nonfarm proprietors' income
4
5
1,006
1 050
1 111
1 189
3557
3 162
3090
3 201
Construction
6
12 114
13465
14 340
15475
Manufacturing
Durable goods
Nondurable goods
7
8
9
63708
41 546
22 162
66433
43051
23 382
69 140
44*518
24622
73072
47062
26010
Transportation and public utilities
Transportation
Communication
Electric, gas, and sanitary services
10
11
12
13
21 196
8505
7 791
4900
22250
9 141
7921
5 188
23 560
10016
8 138
5406
24982
10994
8341
5647
Wholesale trade
14
10418
11 215
11 866
12708
17007
Retail trade
15
12687
14338
15636
Finance, insurance, and real estate
16
14922
16519
17 650
18558
Services
17
27 128
29503
32 197
20,816
21,325
24,229
27,834
1987
1988
194,597 210,029 238,877 259,233
3,566
3,542
5,460
4,861
-407
-859
-824
4
36,023
39,505
43,908
44,585
5
6
7
2,846
1,788
1,058
3,906
2,610
1,296
4,585
3,368
1,217
4,503
3,281
1,222
g
9
10
11
11,233
9,963
-409
1,679
11,730
11,347
-1,184
1,567
12,037
12,015
-203
12,418
12,325
-260
225
353
Wholesale trade
12
8,920
8,774
10,110
11,243
Retail trade
13
14
23,624
23,943
23,627
25,535
Finance insurance, and real estate
-7,260 -10,203
-2,222
371
Services...,
,
Health services
Legal services
Other
15
16
17
18
1 10,784 129,239 142,231 155,298
25,516 28,381 32,074 35,358
19,027 21,748 22,309 24,857
66,241 79,110 87,848 95,083
Construction
Manufacturing
Durable goods
Nondurable goods
,
,
,
Transportation and public utilities . .
Transportation
Communication
Electric, gas, and sanitary services
.. .
.
,
6,104
34911
18
1986
3
187,552 199,260 212 819 228 937
166,736 177,935 188590 201,103
1985
2
Agricultural services, forestry, and fisheries
By industry
Domestic industries
Line
1988
Government and government enterprises
Rest of the world
Table 6.15B.—Noncorporate Capital Consumption Allowances by Industry
19
[Millions of dollars]
By type
Employer contributions to private pension and welfare
funds.
Pension and profit-sharing
Group insurance
Group health insurance
Group life insurance
Workers' compensation
Supplemental unemployment
Other '
20
21
54,600 53486 51 562 50003
109 553 118 370 129 576 142844
100 837 108 956 120083 132 824
8716
9414
9493 10020
19649 23 348 27263 31 212
22
23
24
25
26
27
476
449
472
624
3,274
3607
3946
4,254
Addenda:
Benefits paid by private pension and welfare funds
Pension and profit-sharing
Group health insurance
Group life insurance
Workers' compensation
Supplemental unemployment
Line
184,278 195,653 208,873 224,683
28
209,610 244,991 278,110 317,526
29
78,866 101 603 118259 137 180
105 189 1 15 304 128 669 145 888
8 361
8761
9 192
9746
16,889
18 835 21 354 24227
30
31
32
33
305
488
636
485
Noncorporate capital consumption allowances
Agriculture, forestry, and fisheries
Farms
,
Agricultural services forestry and fisheries
1
2
,
3
4
1985
1986
1987
1988
139,918 151,758 153,128 157,927
13,284
11,752
1,532
13,039
11,546
1,493
13,019
11,322
1,697
12,816
11,130
1,686
Mining
5
8,454
9,437
9,242
9,018
Construction
3,593
4,560
4,163
4,582
Manufacturing
Durable goods
Nondurable goods
6
7
8
9
2,966
1,902
1,064
3,095
1,640
1,455
3,141
1,793
1,348
3,138
1,869
1,269
Transportation and public utilities
Transportation
Communication
Electric, gas, and sanitary services
10
11
12
13
6,935
3,289
1,361
2,285
8,209
3,759
1,842
2,608
9,066
3,754
2,772
2,540
9,214
3,730
2,950
2,534
Wholesale trade
1. Consists largely of directors' fees.
14
957
876
1,008
1,054
Retail trade
15
5,627
5,007
5,342
5,586
Finance insurance and real estate
Finance and insurance
Real estate
Owner-occupied nonfarm housing
Other
16
17
18
19
20
77,430
2,374
75,056
30,228
44,828
85,895
2,525
83,370
32,697
50,673
87,989
1,806
86,183
35,683
50,500
91,228
1,927
89,301
38,873
50,428
Services
21
20,672
21,640
20,158
21,291
84
SURVEY OF CURRENT BUSINESS
Table 6.16B.—Inventory Valuation Adjustment to Nonfarm Incomes by Legal
Form of Organization and Industry
July 1989
Table 6.17B.—Net Interest by Industry
[Millions of dollars]
[Millions of dollars]
Line
Line
-1,868
6,569 -19,903 -26,519
2
-1,676
6,731 -18,908 -25,016
3
182
1,316
-502
-225
4
-151
-59
-1,423
5
6
7
-1,515
-1,930
415
2,449
-575
3,024
1,008
116
-117
1,009
Construction
•
Nondurable goods
Transportation and public utilities
Transportation
Communication
Electric gas and sanitary services
8
9
10
11
.
.
1986
1987
1988
1
Domestic industries
318,976 325 528 351,703 392902
2
Net interest
Inventory valuation adjustment to nonfarm incomes.. 1
.
1985
1988
1987
1986
1985
309,435 324 255 360,341 403,227
Agriculture, forestry, and fisheries
3
15,918
14,246
13,118
12,733
Mining
4
5,205
3928
4272
4811
-1,664
Construction
5
2,822
3,329
3,399
3,889
-6,940
-3,232
-3,708
-8,941
-5,075
-3,866
Manufacturing
Durable goods
Nondurable goods
6
7
8
25538
5004
20,534
31 086
5 122
25964
38598
8434
30164
45801
10951
34850
3,755
406
-58
3,407
-1,433
-356
-964
-113
-611
-70
-704
163
9
10
11
12
35,049
4001
7,716
23,332
37,716
4858
9263
23,595
42,708
5653
10749
26,306
48,579
6434
12312
29,833
Transportation and public utilities
Transportation
Communication ....
.
Electric, gas, and sanitary services
...
Wholesale trade
12
370
1,077
-4,672
-6,929
Wholesale trade
13
5854
5 177
6502
7530
Retail trade
13
-1,376
-1,318
-3,082
-4,795
Retail trade
14
8,350
8528
10,366
11884
14
-194
-489
-856
-1,851
15
-192
-162
-995
-1,503
Finance, insurance, and real estate
Finance
Real estate
Other
15
16
17
18
.
Other
Noncorporate business
,
16
Construction
Nondurable goods
.
45
-17
-8
-24
-10
-231
-272
18
19
20
Manufacturing
8
17
... .
-28
-30
2
-9
-10
1
-109
-72
-37
-141
-81
-60
Wholesale trade
21
20
53
-130
?.?.
-139
-142
-314
23
-29
-99
-194
15039
15725
9,541
1,273
16 154
17627
-8,638 -10,325
-479
Other
19
20
Rest of the world
-197
Retail trade
Services..
195,660 204,520 225,224 250,373
-14931 -24 945 -17 926 -8067
214042 233 120 250 434 266 238
-3451 -3655 -7 284 -7798
-406
Table 6.18B.—-Corporate Profits by Industry
[Billions of dollars]
Seasonally adjusted at annua rates
Line
1985
1986
1987
1988
1985
IV
1987
III
IV
I
II
1988
III
292.7 280.9 279.7 275.2 279.9 293.7 313.0
IV
I
II
1989
III
IV
I
. .
Corporate profits with inventory valuation adjustment
Domestic industries
.
.. .
1
282.3 282.1 298.7 328.6 291.4
25.9 35.0 35.0 35.7 30.3 36.2 38.2 34.6 30.9 34.0 35.3 35.3 35.6 33.7 35.9 37.5 35.5 34.4
225.3 214.0 224.6 249.3 226.3 220.2 212.5 211.7 211.7 209.6 221.3 238.8 228.6 241.9 248.7 248.3 258.2 235.3
31.2 33.1 39.1 43.7 34.8 36.2 30.2 33.4 32.6 36.3 37.2 38.9
44.0 42.4 40.7 45.1 46.5 46.6
6
222.6 228.3 247.8 281.8
7
191.4
195.2
22.8
16.8
6.1
32.0
16.0
16.0
8
9
10
Financial
Other
.
11
Primary metal industries
Fabricated metal products
Machinery except electrical
Electric and electronic equipment
Motor vehicles and equipment
Other
.
Nondurable goods
Food and kindred products
Chemicals and allied products
Petroleum and coal products
Other
.
Transportation and public utilities
Wholesale and retail trade . ...
Other
..
Rest of the world
228.4 233.0 226.0 228.1 226.1 230.5 243.4 261.5
208.7 238.2 193.6
196.8
195.9
194.7
193.4
194.3
26.0
16.3
9.7
32.2
16.7
15.5
35.2
16.1
19.1
32.1
15.7
16.5
28.6
15.6
12.9
30.8
15.6
15.2
31.1
16.0
15.1
30.2
16.2
14.0
167.6 164.6
160.7
162.6 164.8
30.5
16.0
14.5
29.8
18.1
11.7
168.6 163.2 178.2 208.4
308.2 318.1 325.3 330.9 340.2 316.3
255.8 268.1
206.3 222.6 211.8
29.9
16.3
13.6
276.4 284.1
298.7 279.7
225.7 235.8 239.0 252.2 233.1
27.7
17.3
10.4
29.7
17.4
12.3
31.6
18.3
13.3
30.1
19.3
10.8
29.3
20.3
9.0
...
.
...
...
163.5
175.2
192.4
12
....
.
II
251.2 249.0 259.6 285.0 256.6 256.5 250.7 246.3 242.6 243.6 256.5 274.1 264.2 275.7 284.6 285.9 293.7 269.7
5
.
Rest of the world
Manufacturing
II
3
. .. 4
Domestic industries ..
Nonfinancial
I
2
Corporate profits with inventory valuation and capital
consumption adjustments.
Financial
Nonfinancial
1986
79.7
59.5
76.6
98.4
83.8
62.4
60.2
50.5
64.8
60.8
73.7
87.3
84.5
94.6
98.2
95.1
105.5
96.5
13
14
15
16
17
18
19
28.5
-1.4
4.6
3.2
3.6
7.2
11.3
30.8
2.6
4.8
3.0
2.9
4.1
13.3
34.4
3.6
5.0
3.4
3.4
3.3
15.8
38.1
6.4
6.1
4.8
4.6
2.4
13.8
28.0
-1.2
4.0
4.0
2.5
7.8
10.9
29.8
1.3
4.6
2.9
3.8
5.5
11.6
31.4
3.2
5.5
4.0
3.5
4.0
11.2
28.5
2.3
4.6
2.9
1.3
3.2
14.4
33.4
3.7
4.4
2.2
3.2
3.8
16.1
37.6
4.2
3.7
4.0
3.0
4.8
17.9
36.0
2.5
3.7
3.0
5.6
5.7
15.4
37.9
3.5
6.5
4.5
5.4
1.9
16.1
26.0
4.1
5.9
1.9
-.4
.7
13.8
32.8
4.7
7.4
4.3
1.1
.9
14.4
41.3
6.6
6.5
6.7
4.8
1.0
15.6
38.3
6.8
4.8
6.0
5.8
3.2
11.8
39.8
7.4
5.9
2.1
6.6
4.5
13.4
35.6
6.5
7.2
2.0
4.4
3.0
12.4
20
21
22
23
24
51.2
8.3
6.2
17.5
19.2
28.7
7.8
7.6
-7.6
20.9
42.2
12.2
10.5
-1.9
21.4
60.3
15.7
17.4
3.7
23.5
55.8
8.5
3.6
25.5
18.2
32.6
8.1
6.1
-.7
19.1
28.8 21.9 31.4 23.2
7.1
7.3
8.2
8.7
7.1
8.1
9.1
8.5
-4.8 -13.8 -11.3 -13.1
19.3 20.3 24.9 19.6
37.8
11.3
9.4
-2.8
19.9
49.4
13.8
11.7
1.4
22.5
58.5
15.4
12.4
7.1
23.6
61.8
15.3
16.0
4.2
26.2
57.0
15.5
15.9
1.6
24.0
56.8
14.9
15.6
3.8
22.5
65.7
17.2
22.0
5.3
21.2
60.9
17.4
18.5
1.2
23.8
25
26
27
33.0
44.1
11.8
36.3
44.1
23.4
34.6
41.1
25.9
39.3
40.1
30.6
30.6
38.5
14.6
34.1
45.8
22.3
36.2
41.8
22.5
39.4
47.7
25.0
35.3
41.0
23.8
33.1
43.0
26.5
35.8
37.2
28.5
33.9
43.2
28.0
35.5
41.2
20.7
33.7
42.2
27.6
39.2
37.3
31.3
40.8
39.2
32.2
43.5
41.8
31.3
41.6
34.1
31.7
28
31.2
33.1
39.1
43.7
34.8
36.2
30.2
33.4
32.6
36.3
37.2
38.9
44.0
42.4
40.7
45.1
46.5
46.6
181.9 198.0 206.1 207.3 222.1 203.9
j
85
SURVEY OF CURRENT BUSINESS
July 1989
Table 6.20B.—Federal, State, and Local Corporate Profits Tax Liability by
Industry
Table 6.19B.—Corporate Profits Before Tax by Industry
[Millions of dollars]
[Millions of dollars]
Line
1985
1986
1987
1988
Line
1
Domestic industries
193,093 188,470 227,631 263,186
3
Farms
Agricultural services, forestry, and fisheries
-73
1,539
4
5
Agriculture, forestry, and fisheries
1986
1985
1987
1988
224,260 221,581 266,730 306,843
2
Corporate profits before tax
-206
133
1,096
443
1,208
1,266
1
.
.
...
447
4
5
221
61
385
62
200
268
7
8
9
10
...
282
6
Farms
96,422
3
Agriculture, forestry, and fisheries
96,422 106,327 124,723 137,936
2
Corporate profits tax liability
Domestic industries
-29
21
30
178
-6
118
-197
353
106,327 124,723 137,936
621
705
836
917
6
-5,002
-3,891
7
8
9
10
-829
103
-4,845
569
-705
167
-4,016
663
Construction
11
5,744
8,219
Manufacturing .
12
81,200
57,012
83,543 107,306
Construction
11
1,869
2,424
2,729
3,580
13
14
15
16
17
18
19
20
21
22
23
24
30,461
1617
1794
2,652
-1,164
4723
3694
3883
7,301
3,991
1,035
935
31,356
2,448
1,826
3,648
2,749
4619
2955
2935
4,062
4,174
660
1,280
37,622
Manufacturing
12
32,619
31,845
41,491
47,040
13,865
824
894
1,381
519
2,259
1,515
2,709
1,847
609
636
672
18,853
45,921
13,395
549
774
1,129
392
2,140
1,944
2,615
1,639
957
610
646
17,777
50,739 25,656
7,909
7,663
2721
2605
2113
1 399
1 924
1 577
3305
4169
7277
8 108
6,952
6,250
17,473 -10,081
2,415
2,006
413
197
13
14
15
16
17
18
19
20
21
22
23
24
32,509
17,980
3,864
1,068
937
837
1,282
4,154
4,349
460
857
172
28,187
31,983
19,224
4,622
1,271
639
893
1,167
3,227
3,499
2,965
783
158
23,714
36
25
26
27
28
29
30
31
32
33
34
35
37
38
39
40
41
42
43
44
2,762
851
331
2,410
-766
-1 132
975
93
3,052
274
271
3,283
-293
-1,854
690
675
36
11,055
13,694
15,862
18,285
13,090
12729
361
15,777
16602
-825
19,330
1,570
8
56
1,005
1
47
364
89
2,547
45
46
47
1,784
240
45
754
6
159
480
100
2,211
Communication
Telephone and telegraph
Radio and television broadcasting
37
38
39
40
41
42
43
44
45
46
47
3,925
3,399
526
6,000
5,500
500
6,777
7,581
Electric, gas, and sanitary services
Communication
Telephone and telegraph
Radio and television broadcasting
Electric, gas, and sanitary services
48
5,346
6,124
6,874
8,157
49
8,761
8,786
10,446
11,746
Mining
Metal minin0
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
.
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing a n d publishing
.
.
Chemicals and allied products
Petroleum and coal products
,
Rubber and miscellaneous plastic products
Leather and leather products
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
.
Transportation services
.
25
26
27
28
29
30
. 31
32
33
34
35
-857
790
Mining
Metal mining
Coal mining
8,963
9,618
43128
64178
36,018
39,901
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastic products
Leather and leather products
3,903
6,409
T
16,131
13,680
12,785
14,347
20,614
24,785
26,530
Retail trade
50
23,402
23,691
24,108
25,316
Finance, insurance, and real estate
51
20,705
30,562
30,371
30,219
Rest of the world 2
.
Receipts from rest of the world
Less: Payments to rest of the world
h
.
. .
...
Wholesale trade
.
.
Retail trade
50
8,188
9,831
11,531
12,129
Finance insurance, and real estate
27,057 26,491
16,755 16,030
10,302 10,461
5 182
7 677
1 135
3004
-15,756 -12,643
922
1,788
-2439 -1,903
4,604
6,148
51
29357
34,838
36,144
37,998
52
53
54
55
56
57
58
59
60
21,174
17,796
3,378
1,319
843
3,225
501
1,458
1,037
21,648
17,804
3,844
2,350
1,703
5,170
749
1,763
1,455
61
3,891
4,194
5,063
5,536
62
63
64
65
66
67
68
69
70
71
72
73
244
222
1,426
107
79
73
172
1,568
1,072
127
55
314
270
229
1,652
134
102
130
217
1,460
921
155
38
346
74
0
0
0
0
Banking
Federal Reserve banks
Commercial and mutual banks
Credit agencies other than banks
Security and commodity brokers, and services
Insurance carriers
Real estate
61
Amusement and recreation services
Other services
Health services
Legal services
Educational services
Other '
rl
19,145
21,697
Hotels and other lodging places
Personal services
Business services
Auto repair services and garages
Miscellaneous repair services
k'
Water transportation
Transportation by air
Pipelines except natural gas
49
Services
Transportation and public utilities
Tran sportation
Railroad transportation .
48
52
53
54
55
56
57
58
59
60
.
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Machinery except electrical
Electric and electronic equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Wholesale trade
Banking
Federal Reserve banks
Commercial and mutual banks
Credit agencies other than banks
Security and commodity brokers and services
Insurance carriers
Insurance agents and brokers, and services
Real estate
Holding and other investment companies
.
Nonmetallic minerals, except fuels
13,437
18,215
62
63
64
65
66
67
68
69
70
71
72
73
-224
663
4,737
-291
336
348
-391
8,259
5225
914
227
1893
-432
590
7,274
191
484
936
186
8,986
5,336
1,400
90
2 160
74
31,167
33,111
39,099
43,657
75
76
38,040
6,873
40,241
7,130
49,008
9,909
58,466
14,809
19,492
22,240
Services
.
Personal services
Auto repair services and garages
Miscellaneous repair services
Motion pictures
Other services
Health services
Legal services
Educational services
Other1
Rest of the world
.
.
...
1. Consists of social services, membership organizations, and miscellaneous professional services.
1. Consists of social services, membership organizations, and miscellaneous professional services.
2. Consists of receipts by all U.S. residents, including both corporations and persons, of dividends from
their incorporated foreign affiliates, their share of reinvested earnings of their incorporated foreign affiliates,
and earnings of unincorporated foreign affiliates, net of corresponding outflows.
SURVEY OF CURRENT BUSINESS
86
July 1989
Table 6.21B.—Corporate Profits After Tax by Industry
Table 6.22B.—Net Corporate Dividend Payments by Industry
[Millions of dollars]
[Millions of dollars]
Line
1
Corporate profits after tax
1985
1986
1987
Farms
Agricultural services, forestry, and fisheries
-355
1,092
4
5
Agriculture, forestry, and fisheries
96,671
-427
6
7
g
9
10
, 11
Mining
Metal mining
..
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
Construction
82,143 102908 125 250
72
-4,159
-800
561
711
381
-5,202
587
-699
82
-1,693
-127
310
3,875
5,795
6,234
6,038
12
48,581
25,167
42052
60,266
13
14
15
16
17
18
19
20
21
22
23
24
17066
1068
1 020
1523
-1556
2583
1 750
1 268
5662
3034
17491
1,624
19845
24275
425
289
24
608
25
26
27
28
29
. . . 30
. . . 31
32
33
34
35
31515
3,287
1,450
2138
4050
2751
14508
1,632
7,676
3,799
1,537
1,176
1 087
2887
3954
2,603
-10541
1,149
255
25
36
37
20,928
18,815
20,156
21,616
978
1 482
1 692
3862
38
611
286
266
221
Manufacturing
Durable goods
,
Lumber and wood products
Furniture and fixtures
Stone, clay and glass products
Primary metal industries
Fabricated metal products
Machinery except electrical
Electric and electronic equipment
Motor vehicles and equipment. .
.
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
.
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper a n d allied products . . .
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastic products
Leather and leather products
Transportation and public utilities
Transportation
«
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
Transportation services
. . 39
.
.
40
41
42
43
44
760
684
932
2267
2,230
2360
1 440
226
2215
3,565
22207
35991
326
586
9,777
11,102
-1 325
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
Motor vehicles and equipment
Other transportation equipment . . . .
Instruments and related products
Miscellaneous manufacturing industries
Communication
Telephone and telegraph
Radio and television broadcasting
10785
7,556
5,911
6190
12,936
11,828
14339
14,784
15,214
13,860
12,577
13,187
-8,852
-4,276
-5,773
-7,779
Services
Hotels and other lodging places
Personal services
Business services . . . .
Auto repair services, and garages
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Other services
Lesal services
Educational services
Other1
. . . .
Rest of the world 2
Receipts from rest of the world
Less* Payments to rest of the world
.
.
..
9,546
14,021
-468
-702
1,579
1,814
74
31,167
33,111
39,099
43,657
75
76
38040
6873
40241
7,130
49008
9909
58466
14809
441
16,704
5,622
257
275
-563
6,691
4 153
787
172
57
382
806
-31
52
1. Consists of social services, membership organizations, and miscellaneous professional services.
2. Consists of receipts by all U.S. residents of dividends from their incorporated foreign affiliates, their
share of reinvested earnings of their incorporated foreign affiliates, and earnings of unincorporated foreign
affiliates, net of corresponding outflows.
.
640
1,168
1,190
1,172
25,085
25,373
27,234
25,785
12,530
10,764
12,347
12,270
730
199
493
400
697
1,522
1,114
2,147
2,580
1,688
386
503
14,887
13,515
765
1,656
2,708
1751
324
536
1,180
1,117
449
12,555
1 961
14,609
2525
1,274
304
1,263
1 702
5,004
1,627
591
1,069
1 575
5076
2,009
21
106
109
-55
26,724
26,977
29,096
31,766
37
38
39
40
41
42
43
44
2 145
2202
2259
2,408
893
54
477
24
241
395
61
758
31
627
104
252
380
50
45
46
47
10246
9647
11070
9897
1,173
12000
13009
599
48
14333
13705
14,837
16,349
8,530
6,649
7,466
7,152
50
51
52
53
.
54
. . . 55
56
4,372
4,563
4,852
4,861
2,501
3,888
6,593
6322
4925
5463
4,062
4,267
.
.
.
.
.
57
,. 58
59
60
Services
Motion pictures
Amusement and recreation services
Other services
Health services
Legal services
Educational services
...
Other1
7,526
4415
1 245
262
379
458
176
31
32
33
34
35
Hotels and other lodging places
Personal services
Business services
Auto repair, services, and garages
361
3,311
-398
14,429
2,093
1,275
247
122
-89
195
36
Credit agencies other than banks . . . .
Security and commodity brokers, and services
Insurance carriers
Insurance agents and brokers, and services
Real estate
.
61
62
63
64
65
66
67
68
69
70
71
72
73
1,669
475
29
30
Finance, insurance, and real estate
Federal Reserve banks
Commercial and mutual banks
Credit agencies other than banks
Security and commodity brokers and services
Insurance carriers
Insurance agents and brokers and services
Real estate
. . .
...
462
159
349
. .
Electric gas and sanitary services
Banking
Federal Reserve banks
738
377
52
25
26
. 27
28
Retail trade
4843
5883
-1 041 -1,774
6,924
6,617
5,327
3,863
292
1,301
-18,981 -17,813
421
1,039
-3,897 -3,666
3567
4693
686
18
19
20
21
22
23
24
Wholesale trade
Finance, insurance, and real estate
621
16
17
.
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
Transportation services
48
49
50
51
52
53
54
55
56
57
58
59
60
84,156
429
13
14
15
Transportation and public utilities
Electric, gas and sanitary services
Retail trade
82,848
49
Nondurable goods
Food and kindred products
Tobacco manufactures
.
Textile mill products
Apparel and other textile products
Paper and allied products
9,165
9,330
-165
Wholesale trade
98,671 110,420
73,686
12
Manufacturing
45
46
47
11,564
91,301
71,062
1988
6
. .
Construction
Communication
Telephone and telegraph
Radio and television broadcastin"
12,553
83,252
1987
7
8
9
10
, 11
. . . .
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastic products
Leather and leather products
2278
1656
-294
-772
-1 291 -1901
495
.7
Mining .
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals except fuels
-3 819
391
Farms
Agricultural services forestry and fisheries
49
-4875
Agriculture, forestry, and fisheries
1986
3
4
5
Domestic industries
1985
1
2
Net corporate dividends
127,838 115,254 142,007 168,907
2
3
Domestic industries
Line
1988
Rest of the world
Receipts from rest of the world 2
Less* Payments to rest of the world 3
.
289
278
436
103
110
4822
1,455
5353
1,885
-6
413
-12,138 -11,972
342
636
3680
3338
4585
3783
61
62
63
64
65
66
67
68
69
70
71
72
73
2,306
74
12,190
17,615
15,823
26,264
75
76
18,972
6,782
24,985
7,370
23,880
8,057
35,379
9,115
265
143
698
231
76
51
98
744
517
47
16
164
3,172
338
100
794
371
61
335
231
942
621
40
31
250
1. Consists of social services, membership organizations, and miscellaneous professional services.
2. Consists of receipts by all U.S. residents of dividends paid by their incorporated foreign affiliates and
remitted earnings of their unincorporated foreign affiliates.
3. Consists of payments by incorporated U.S. affiliates of dividends paid to foreign residents and earnings
of unincorporated U.S. affiliates remitted to foreign residents.
87
SURVEY OF CURRENT BUSINESS
July 1989
Table 6.23B.—Undistributed Corporate Profits by Industry
Table 6.24B.—Corporate Capital Consumption Allowances by Industry
[Millions of dollars]
[Millions of dollars]
1985
1986
1
44,586
23,953
43,336
58,487
2
3
25,609
8,457
20,060
41,094
-784
471
-99
-177
4
5
-804
20
249
222
6
7
8
9
10
11
-5,6*77
-5,434
-1 047
-961
-330
-4,277
12
13
14
15
16
17
18
-3,078
1,469
-397
-1,312
3,974
2710
-755
Line
Undistributed corporate profits
Domestic industries
.
Agriculture, forestry, and fisheries
Farms
..
Agricultural services, forestry, and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
Construction
Manufacturing
.
Durable goods
Lumber and wood products
Furniture and fixtures...
Stone clay and glass products
Primary metal industries
Fabricated metal products.,
,
Machinery except electrical
Electric and electronic equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
Nondurable goods
Food and kindred products
Tobacco manufactures . .. ,
Textile mill products
Apparel and other textile products . .
Paper and allied products
Printing and publishing
Petroleum and coal products
Rubber and miscellaneous plastic products
Leather and leather products
^40
-4786
Transportation and public utilities
Transportation
Railroad transportation
<
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
Transportation services
.
1988
-3,362
-2,220
196
134
4,627
5,044
4,866
23,496
-206
14,818
34,481
4,536
6,727
1 131
7498
12005
338
821
826
532
-60
159
-6,933
1 274
482
380
875
7,320
22,476
263
740
496
1,818
2,379
2,348
-2253 -2473
12881 -12 550
1 611
1040
149
80
-5,796
-8,162
37
38
39
40
41
42
43
44
-1 167
-282
-720
-492
-567
1 454
.
-1,081
-317
-764
-1,293
1,205
-2,498
-3548
-6 149 -8926 -10 159
4,406
10,842
51
Retail trade
Finance, insurance, and real estate
-54
536
49
50
Wholesale trade . ...
100
-68
45
46
47
.
190
1,651
-398
-2,153
48
Communication . .
Telephone and telegraph .
Radio and television broadcasting
232
1,179
-796
-1,532
-11,353
52
53
. 54
55
958
Miscellaneous repair services
Motion pictures ....
Other services
Health services
Legal services . .
Educational services
Other '
.
Rest of the world
2
Receipts from rest of the world
Less* Payments to rest of the world 3
.
8,326
403
10,849
-733
-1,040
1,415
1564
18,977
15,496
23,276
17393
75
76
19068
15,256
-240
25 128
1852
23087
5694
298
4,828
-314
181
224
321
471
-661
5947
3,636
12,437
261
2,613
-629
10,367
-262
6,584
3,794
1,205
1. Consists of social services, membership organizations, and miscellaneous professional services.
2. Consists of receipts by all U.S. residents of their share of the reinvested earnings of their incorporated
foreign affiliates and reinvested earnings of their unincorporated foreign affiliates.
3. Consists of payments to foreign residents of their share of the reinvested earnings of their incorporated
U.S. affiliates and reinvested vested earnings of their unincorporated U.S. affiliates.
.
330
1,270
6,561
925
1 327
4,466
1,013
8,224
7,898
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
6,671
6,430
8,746
9,417
810
7,136
135,760 139,260 140,325 143^93
63,996
2,841
65321
2,870
837
820
3544
4,808
5,815
10,210
13,800
12,961
4,026
3,348
1,806
3554
4,929
5,365
9,401
12,726
16034
4753
3,041
1,828
71 764
10237
1 899
1,750
73939
9463
3 162
1772
1,084
5,158
5999
13736
31,114
2,229
956
5,157
5595
13,526
30,235
2,138
67016
69804
73 309
73789
271
222
75,964
79,709
82,206
83,942
20,173
5 333
19,798
4518
18,570
18,275
782
783
5,293
1,758
5004
5439
1,481
5 678
466
354
1,537
1,545
28,402
26,953
1 449
29,898
28,363
1 535
31,113
31,850
27389
30013
32523
33817
14,682
14,776
16,060
16,998
23,874
25,398
27,308
28,680
50
27,956
31,100
36,131
40,907
51
52
53
54
55
56
57
58
59
11,301
12,752
32,786
34,798
.
81
92
11,220
2,182
1,473
3928
6088
2,085
12,660
2,969
1,253
4242
1 081
6568
2,235
60
Hotels and other lodging places
Personal services
.
Auto repair, services, and garages
Miscellaneous repair services
.
Motion pictures
Amusement and recreation services
Other services
.
Health services
.
Legal services
21
487
773
3,722
48
49
Banking
Federal Reserve banks
Commercial and mutual banks
Credit agencies other than banks
Security and commodity brokers, and services
Insurance carriers
Insurance agents and brokers and services
Real estate
Holding and other investment companies
Other '
9,243
3,709
47
. .
Services
7,240
2840
44
45
46
Finance, insurance, and real estate
-7,235 -7,346
910
-1 018
3,650
3033
36
37
. .. 38
39
40
41
42
43
Communication
Telephone and telegraph
Radio and television broadcasting
.
1988
35
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
Transportation services
7,725
79
91
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastic products
Leather and leather products
9,297
-8,164 -12,366 -14,101
-620
-1,884
1,264
3,442
888
-5,841
740
156
.
Retail trade
74
Business services
Durable goods
Lumber and wood products
Furniture and fixtures
Stone clay and glass products
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
Motor vehicles and equipment . . . .
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Wholesale trade
3,806
3
4
10
11
Electric gas and sanitary services
61
62
63
64
65
66
. . . 67
68
69
70
71
72
73
Hotels and other lodging places
. .
1987
328,304 339,709 353,942 368,487
6
7
8
9
t
Manufacturing
7,632
-1,144
2102
2408
298
-6,843
59
60
Real estate
Services
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
6,873
56
57
. .
-1,445
1986
5
Farms
Agricultural services, forestry, and fisheries
5,179
58
Federal Reserve banks
Commercial and mutual banks
Credit agencies other than banks
Security and commodity brokers, and services
Insurance carriers
553
1985
2
Transportation and public utilities . .
-8,940 -10,150
1
Corporate capital consumption allowances
Agriculture, forestry, and fisheries
Construction
1 881
1,727
1,595
-216
-2,482
464
3029
-1093
18,960
1 326
1,161
Line
Mining
3,235
36
. .
1987
28,795
30,782
61
62
63
64
65
66
67
68
69
70
71
72
1,998
1 174
9,891
4,701
2,237
1 182
10,238
5,022
899
468
461
1,118
2,466
6979
4,669
1,597
2,237
7808
5,237
497
336
549
331
1 477
1 691
1. Consists of social services, membership organizations, and miscellaneous professional services.
88
SURVEY OF CURRENT BUSINESS
July 1989
7. Fixed-Weighted Price Indexes and Implicit Price Deflators
Table 7.1.—Fixed-Weighted Price Indexes for Gross National Product, 1982 Weights
[Index numbers, 1982=100]
Seasonally adjusted
Line
1985
1986
1987
1988
1986
1985
1987
1988
1989
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
1
124.1
113.2
113.8
114.4
115.3
116.1
117.4
118.5
119.6
120.8
121.9
123.3
124.9
126.2
127.7
129.3
120.7
125.9
113.8
114.3
114.4
115.6
116.7
118.5
120.2
121.4
122.8
123.6
125.1
126.6
128.1
129.6
131.6
105.2
107.9
117.2
106.5
107.8
123.1
110.3
112.6
129.4
112.9
117.2
135.5
105.4
109.1
119.5
105.7
108.4
120.8
106.0
106.8
122.2
106.9
107.7
123.8
107.5
108.3
125.4
108.7 109.8 110.9
110.4 112.4 113.3
127.0 128.5 130.2
111.6
114.3
131.9
111.9
114.7
133.2
112.4 113.2
116.6 118.1
134.7 136.2
114.1 114.7 114.8
119.4 121.0 124.5
138.1 139.8 141.2
103.3
101.9
100.7
102.6
108.3
105.7
104.2
101.6
105.9
110.9
107.8
105.4
101.7
107.8
115.9
111.3
109.0
107.1
110.2
119.5
104.2
102.8
101.7
103.5
109.0
104.7
103.3
101.5
104.5
109.7
105.5
104.1
101.9
105.6
110.3
105.9
104.4
101.4
106.4
111.2
106.4
104.8
101.2
107.0
112.1
106.9
105.1
101.1
107.6
113.2
107.3
105.2
101.2
107.7
114.9
108.1
105.4
101.9
107.7
117.4
108.7
106.0
102.7
108.1
118.2
110.1
107.5
105.1
109.1
119.2
111.0
108.6
106.5
109.9
119.3
111.5
109.3
107.9
110.2
119.3
112.7
110.5
109.1
111.5
120.1
14
15
103.7
95.7
103.6
94.0
105.6
101.2
111.2 103.4
106.3 96.8
103.6
95.9
103.5
92.5
103.3
92.9
103.5
94.7
104.2
97.9
105.1
100.4
105.8
101.9
106.5
103.3
108.1
104.5
110.0
106.1
112.6 113.3
106.2 107.3
113.7 114.5
109.5 111.2
16
113.2
115.5 119.6
125.1
114.4
114.9
115.1
115.4
116.6
118.0
119.0
120.2
121.3
123.1
124.4
125.9
126.9
129.4
130.5
17
18
19
20
110.4
110.5
110.0
115.3
110.6
111.1
109.4
119.2
117.9
117.9
118.0
130.4
111.0
111.4
110.1
117.0
110.9
111.3
110.0
117.8
110.5
110.8
109.9
118.4
110.0
110.5
109.0
119.4
110.7
111.6
108.7
121.0
112.1
112.7
110.6
122.3
113.0
113.5
111.6
123.5
113.6 114.5
114.1 114.9
112.5 113.4
125.1 126.4
116.3
116.6
115.6
128.1
117.4 118.7 119.3
117.7 118.3 119.0
116.7 119.7 120.0
129.6 131.2 132.6
122.3
122.0
123.0
134.7
122.7
122.4
123.2
136.4
21
22
23
24
111.8
108.6
103.5
114.3
114.8 118.9 124.0
112.2 117.2 122.2
91.0 91.7 92.4
119.1 125.2 131.0
115.1 116.0 117.2
113.1 114.4 115.5
87.6 85.6 89.4
119.8 121.2 122.9
118.4
117.1
91.3
124.5
119.5
117.7
93.1
126.0
126.1
124.9
92.9
133.3
127.6
126.6
94.0
134.8
129.2
129.0
100.6
136.2
7
8
9
10
11
12
... .
Producers' durable eauioment
Residential
114.1
111.8
110.5
112.7
121.8
115.3
112.8
111.7
113.6
123.9
13
Net exports of goods and services
Government purchases of goods and services
Federal
National defense
Nondefense
State and local
<
119.1
115.3
6
Gross private domestic investment
Nonresidential
114.9
112.2
3
4
5
Durable goods
Nondurable goods
Services
.
111.9
2
Gross national product
Personal consumption expenditures
.
....
113.3
113.8
112.0
124.3
Addenda:
Final sales
Personal consumption expenditures eneray .
Other personal consumption expenditures .
113.1 113.7 114.3
109.8 110.3 111.0
103.5 99.9 91.0
116.2 117.2 118.3
120.6 121.8 123.2
118.7 119.4 121.0
92.9 91.5 92.3
127.6 128.7 130.3
124.8
123.5
92.8
131.5
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 7.2.—Fixed-Weighted Price Indexes for Gross National Product by Major Type of Product, 1982 Weights
[Index numbers, 1982=100]
Seasonally adjusted
Line
1985
1986
1987
1988
1988
1987
1986
1985
1989
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
113.2
113.8
114.4
115.3
116.1
117.4
118.5
119.6
120.8
121.9
123.3
124.9
126.2
127.7
129.3
113.1
113.7 114.3
115.1
116.0
117.2
118.4 119.5
120.6
121.8
123.2
124.8
126.1
127.6
129.2
120.0
1
' h '
'
Final sales
..
Change in business inventories
Structures
111.0
115.1
107.9
107.9
107.8
108.3
108.7
109.7
110.7
111.4
112.2
112.8
114.3
116.2
117.3
118.1
108.1
110.8
115.0
107.7
107.8
107.7
108.1
108.5
109.5
110.5
111.2
112.0
112.6
114.1
116.0
117.1
118.0 119.9
105.5
105.5
105.8
105.7
107.1
107.0
108.2
108.3
105.5
105.4
105.3
105.2
105.5
105.4
105.8
105.7
106.7
106.5
106.7
106.6
106.8
106.7
107.4
107.3
107.3
107.3
107.4
107.4
107.8
107.9
108.7
108.7
109.1
109.2
109.9
110.1
110.7
110.9
108.6
108.5
109.9
109.8
113.7
113.5
119.8
119.5
109.5
109.4
109.7
109.6
109.4
109.3
110.0 110.1 111.7
109.8 109.9 111.5
113.4 114.2
113.2 114.0
115.5 116.4 118.6 121.3
115.2 116.2 118.4 121.0
122.8
122.5
123.6
123.4
126.3
126.1
117.0
122.2
127.9
133.7
119.1
120.2
121.5
122.7
124.2
125.7
127.1
128.6
130.0
131.5
133.0
134.4
136.0
138.0
139.4
14
Nondurable goods
108.2
107.2
10
11
12
Change in business inventories
107.3
7
8
9
.
Durable goods ..
118.9 124.0
5
6
Goods
119.1
114.8
4
ntories
114.9
111.8
13
Ch
111.9
2
3
Gross national product
105.1
106.9
109.1
113.7
106.1
106.4
106.8
107.0
107.2
107.6
108.3
109.7
110.6
112.3
113.2
114.2
115.2
116.8
118.4
124.1
Table 7.3.—Fixed-Weighted Price Indexes for Relation of Gross National Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers, 1982 We
ights
[Index numbers, 1982=100]
Seasonally adjusted
Line
1985
1986
1987
1988
1986
1985
1987
1988
1989
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
124.9
126.2
127.7
129.3
1
111.9
114.9
119.1
124.1
113.2
113.8
114.4
115.3
116.1
117.4
118.5
119.6
120.8
121.9
123.3
2
3
103.7
95.7
103.6
94.0
105.6
101.2
111.2
106.3
103.4
96.8
103.6
95.9
103.5
92.5
103.3
92.9
103.5
94.7
104.2
97.9
105.1
100.4
105.8
101.9
106.5
103.3
108.1
104.5
110.0 112.6 113.3
106.1 106.2 107.3
113.7 114.5
109.5 111.2
Equals: Gross domestic purchases '
4
111.1
114.0
118.7
123.7
112.6
113.1
113.3
114.3
115.3
116.8
118.2
119.3
120.5
121.6
123.0
124.3
125.7
127.4
129.1
Less: Change in business inventories
5
111.1
113.9
118.6
123.5
112.5
113.0
113.2
114.1
115.2
116.6
118.0
119.2
120.4
121.5
122.9
124.2
125.6
127.3
129.0
Gross national product
Less* Exports of goods and services
Plus* Imports of °oods and services
.
Equals: Final sales to domestic purchasers 2 .
.
6
1. Purchases in the United States of goods and services wherever produced.
2. Final sales in the United States of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
89
SURVEY OF CURRENT BUSINESS
July 1989
Table 7.4.—Implicit Price Deflators for Gross National Product
[Index numbers, 1982=100]
Seasonally adjusted
Line
1985
1986
1987
1988
1985
1986
IV
Gross national product
Personal consumption expenditures
.
1
.
2
Durable goods
Nondurable goods
«
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
7
8
9
10
11
12
.
13
14
15
16
17
18
19
20
Net exports of goods and services
Exports
Imports
Government purchases of goods and services
Federal
National defense
Nondefense
State and local
3
4
5
6
.
110.9 113.8
111.6 114.3
104.8 105.6
107.5 107.3
116.8 122.4
117.4 121.3
119.8 124.5
108.1 110.1
112.1 116.3
129.0 134.9
I
112.2
113.1
104.7
108.7
119.0
112.4
113.4
105.0
107.9
120.1
101.0 101.4
97.9 97.9
104.0 104.7
95.0 94.8
109.0 109.8
II
1988
1987
III
IV
I
II
113.2 114.6 115.1 116.0 117.1 117.9
113.5 114.7 115.8 117.6 119.2 120.5
105.1 106.1 106.2 106.7 107.7 108.8
106.3 107.1 107.8 1 10.0 111.8 112.8
121.6 123.2 124.9 126.6 128.2 129.8
100.6
97.7
102.5
95.3
108.3
102.9 103.1
99.3 97.5
106.9 109.4
96.1 93.2
111.1 116.2
104.6
98.7
114.9
93.3
119.7
101.0
95.2
112.3
109.0
109.2
108.2
114.9
99.8 99.5
93.7 99.0
114.5 118.5
109.7 112.4
110.2 111.1
108.1 116.7
118.3 123.2
103.3 100.5 100.7 100.3
102.7 95.9 96.0 92.8
123.4 113.8 114.3 114.2
115.9 110.6 110.5 109.9
114.0 111.3 110.6 110.2
123.6 108.8 110.1 108.9
128.8 116.5 117.2 117.6
102.6
99.0
107.1
95.7
110.6
103.7 103.9 103.1 103.4 102.8
100.1 100.0 98.4 98.2 96.7
107.7 108.3 107.7 110.0 109.3
97.0 96.8 94.8 93.9 92.1
111.4 112.4 113.4 115.2 117.8
99.4 99.0
91.9 94.4
115.1 114.5
110.7 107.7
110.2 109.7
112.5 101.7
118.4 120.0
99.5 99.5
97.3 99.4
116.8 118.3
111.1 113.0
111.2 111.1
110.7 120.0
121.2 122.4
1989
IV
I
II
III
IV
I
II
118.6
121.8
109.0
113.7
131.5
119.2
122.5
109.3
114.0
132.7
120.6
123.9
109.6
115.9
134.2
121.9
125.1
110.2
117.1
135.6
123.3
126.5
111.2
118.2
137.3
124.5
128.0
111.2
120.0
139.0
126.0
129.8
111.0
123.3
140.4
103.3 103.9
97.0 97.7
110.5 112.6
92.1 92.7
118.7 119.5
103.9
97.8
114.2
92.5
119.5
104.4
98.4
115.4
92.9
119.6
106.3
100.6
117.3
95.2
120.4
106.5
100.4
119.5
94.4
122.1
106.7
100.3
120.9
94.1
124.1
102.5 104.7
102.6 102.7
122.6 123.5
115.0 114.9
113.5 114.4
121.0 117.1
128.1 129.6
105.1
104.0
125.4
118.2
114.9
128.7
130.8
III
99.3 99.7 100.8
98.8 100.6 101.5
119.1 119.6 122.0
112.8 112.5 115.5
110.9 111.3 113.1
120.3 116.8 126.2
123.9 125.1 126.7
106.3 106.9
105.6 106.2
127 A 127.7
118.9 118.4
117.4 118.1
123.8 119.2
132.9 134.5
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 7.5.—Implicit Price Deflators for Gross National Product by Major Type of Product
[Index numbers, 1982=100]
Seasonally adjusted
Line
1985
1986
1987
1988
1985
IV
Gross national product
Final sales
Change in business inventories
Goods
Final sales
Change in business inventories
Durable goods
Final sales
Change in business inventories
Nondurable goods
Final sales
Change in business inventories
Services
Structures
1
.
.
..
.
.
2
3
II
III
IV
I
II
III
IV
I
II
105.9 105.2
106.0 105.4
105.4
105.6
106.8 106.2
106.8 105.6
97.2
96.9
101.7
101.5
100.8
100.5
100.6
100.5
101.1
101.2
100.2
100.3
99.5
99.1
98.6
98.3
120.8
120.9
109.3
109.5
108.8
109.3
109.3
109.7
111.7
111.7
111.2 112.4
110.0 111.9
114.5
114.1
107.0
106.7
109.0
109.0
100.3
100.3
98.0
97.6
110.5
110.4
115.0
114.7
105.6 105.9
105.5 105.8
7
8
9
102.1
102.0
10
11
12
13
14
108.4
108.3
106.5 107.0
106.1 106.7
107.2
107.1
97.9
97.8
107.1 106.9
107.0 107.3
97.7
97.0
97.0
96.9
115.9 115.9 116.3
115.6 115.9 117.2
1989
III
110.9 113.8 117.4 121.3 112.2 112.4 113.2 114.6 115.1 116.0 117.1 117.9 118.6 119.2 120.6
110.9 113.8 117.4 121.4 112.2 112.5 113.3 114.6 114.8 115.9 117.0 117.9 118.7 119.5 120.6
4
5
6
.
I
1988
1987
1986
IV
I
II
121.9 123.3 124.5 126.0
121.9 123.4 124.6 125.9
108.5 109.7
108.1 109.5
97.2
96.9
98.1
97.6
111.1 111.4 112.9
111.2 111.4 112.5
98.7
98.2
119.7 121.6 123.6
119.1 121.2 123.8
99.2
98.7
99.3
99.1
123.4 126.4
123.6 125.9
116.9 121.9 127.8 133.4 118.9 119.9 121.1 122.5 124.0 125.6 127.0 128.5 129.9 131.3 132.7 134.0 135.5 137.6
106.5 110.1 114.0 118.5 107.7 108.5 109.9 110.7 111.4 111.9 113.6 114.8 115.8 117.3 118.0 118.8 120.0 121.9
138.9
123.6
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 7.6.—Implicit Price Deflators for Gross National Product by Sector
[Index numbers, 1982=100]
Seasonally adjusted
Line
1985
1986
1988
1987
1985
1986
IV
1
Gross national product
Gross domestic product
Nonfarm
Nonfarm less housing
Housing
Farm
Statistical discrepancy . . . .
Households and institutions
Private households
. . .
.
Nonprofit institutions
Government
. . .
Federal
State and local
Rest of the world
Addendum:
Gross domestic business product less housing
.
...
.
.
12
13
14
15
110.9
111.0
110.0
110.4
109.6
118.7
94.9
110.0
117.4
102.4
118.6
117.2
114.6
118.6
112.1
113.8
113.8
112.6
113.2
111.9
126.0
90.1
112.6
122.2
103.6
123.6
122.1
117.0
124.7
115.2
117.4
117.4
115.7
116.3
114.8
131.9
92.1
115.7
131.6
104.8
133.6
128.0
122.0
130.9
119.0
16
109.2
111.4
114.3 117.6
2
3
4
5
6
7
8
9
10
11
121.3
121.3
119.3
119.6
117.8
138.3
104.6
119.3
137.0
105.9
139.1
134.5
127.2
138.1
123.3
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
I
II
112.2
112.2
111.1
111.6
110.7
121.6
92.3
111.1
119.0
102.8
120.2
112.4
112.4
111.2
111.8
110.7
123.2
88.7
111.2
120.1
103.2
121.4
119.1
116.3
120.5
113.5
120.3
116.6
122.2
113.6
113.2
113.2
112.0
112.6
111.3
125.3
90.9
112.0
120.7
103.4
122.0
121.5
117.0
123.8
114.6
1988
1987
III
IV
115.1
115.1
113.7
114.3
113.0
128.4
90.4
113.7
125.1
104.2
126.6
124.1
117.4
127.4
116.0 116.6
114.6
114.6
113.3
114.0
112.7
126.8
90.4
113.3
122.9
103.8
124.3
122.5
117.1
125.2
I
II
116.0
116.0
114.4
115.1
113.8
129.6
87.9
114.4
117.1
117.1
115.4
115.9
114.5
130.9
96.4
115.4
III
117.9
117.9
116.2
116.8
115.3
132.5
93.5
116.2
127.7 130.6 132.9
104.5 104.7 104.9
129.5 132.5 134.9
126.1 127.3 128.5
121.2 122.0 122.1
128.6 130.0 131.7
117.5 118.7 119.6
1989
IV
I
II
III
118.6
118.6
116.7
117.4
115.7
134.7
90.9
116.7
135.1
105.0
137.3
119.2
119.3
117.2
117.7
116.0
136.1
95.8
117.2
135.4
105.1
137.5
120.6
120.7
118.6
118.9
117.2
137.2
104.6
118.6
136.1
105.9
138.2
121.9
121.9
119.9
119.9
118.1
139.0
117.3
119.9
137.2
106.1
139.3
IV
123.3
123.3
121.3
121.6
119.9
140.8
101.8
121.3
139.1
106.4
141.3
129.8 132.5 133.9 135.1 136.4
122.9 126.5 127.2 127.5 127.7
133.3 135.5 137.2 138.9 140.7
120.3 121.0 122.5 124.0 125.5
I
124.5
124.5
122.3
122.5
120.7
142.0
113.0
122.3
141.0
107.0
143.2
II
126.0
126.0
123.7
123.9
122.1
143.3
115.7
123.7
142.6
107.4
144.9
139.5 140.8
133.1 133.7
142.6 144.4
126.8 128.4
90
SURVEY OF CURRENT BUSINESS
July 1989
Table 7.7.—Implicit Price Deflators for the Relation of Gross National Product, Net National Product, and National Income
[Index numbers, 1982=100]
Seasonally adjusted
Line
1985
1986
1987
1988
1986
1985
1987
1989
1988
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
1
110.9
113.8
117.4
121.3
112.2
112.4
113.2
114.6
115.1
116.0
117.1
117.9
118.6
119.2
120.6
121.9
123.3
124.5
126.0
Less: Capital consumption allowances with capital consumption
adjustment.
2
102.5
103.8
105.6
106.9
102.7
102.9
103.5
104.0
104.6
105.0
105.4
106.0
106.0
106.8
106.9
106.7
107.4
108.0
108.6
Equals! Net national product
Gross national product
3
112.1
115.2
119.0
123.2
113.4
113.6
114.5
116.0
116.5
117.5
118.6
119.5
120.2
120.9
122.5
123.9
125.5
126.8
128.4
4
Less: Indirect business tax and nontax liability plus business transfer
payments less subsidies plus current surplus of government enterprises.
116.4
115.6
118.6
123.3
117.6
119.2
109.9
118.1
115.2
114.8
118.9
122.4
118.0 121.7
120.9
125.9
124.5
126.5
129.9
5
110.0
112.6
115.7
119.3
111.1
111.2
112.0
113.3
113.7
114.4
115.4
116.2
116.7 117.2
118.6
119.9
121.3
122.3
6
111.6
115.1
119.0
123.2
113.0
113.1
115.0
115.8
116.7
117.8
118.6
119.2
120.5
120.8
122.7
123.7
125.5
126.8
Statistical discrepancy
Equals' National income
Table 7.8.—Implicit Price Deflators for Command-Basis Gross National Product
[Index numbers, 1982=100]
Seasonally adjusted
Line
1985
1986
1987
1988
1986
1985
1987
1989
1988
IV
Gross national product
1
110.9
Less* Net exports of goods and services ..
Exports
.
Imports
.
2
3
4
101.0
95.2
113.8
99.8
93.7
in
IV
I
II
III
IV
I
II
III
IV
I
II
112.2
112.4
113.2
114.6
115.1
116.0
117.1
117.9
118.6
119.2
120.6
121.9
123.3
124.5
126.0
100.7
96.0
100.3
92.8
99.4
91.9
99.0
94.4
99.5
97.3
99.5
99.4
99.3
98.8
99.7
100.6
100.8
101.5
102.5
102.6
104.7
102.7
105.1
104.0
106.3
105.6
106.9
106.2
111.4
111.8
121.3
99.5
99.0
103.3
102.7
100.5
95.9
111.2
5
109.9
112.5
116.8
120.9
6
7
8
95.2
95.2
93.7
93.7
99.0
99.0
102.7
102.7
Equals' Command-basis gross national product
9
110.3
113.0
117.3
121.2
... .
II
117.4
Plus* Command-basis net exports of goods and services
Command-basis exports
Imports
Equals: Gross domestic purchases
I
95.9
95.9
111.6
96.0
96.0
111.8
113.0
113.9
115.2
116.5
117.3
118.2
119.0 120.3
121.3
122.8
124.2
125.6
92.8
92.8
91.9
91.9
94.4
94.4
97.3
97.3
99.4
99.4
98.8
98.8
100.6
100.6
101.5
101.5
102.6
102.6
102.7
102.7
104.0
104.0
105.6
105.6
106.2
106.2
112.3
113.6
114.5
115.7
117.0
117.8
118.7
119.3
120.7
121.6
123.1
124.4
125.9
III
IV
I
II
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 7.9.—Fixed-Weighted Price Indexes for Personal Consumption Expenditures by Major Type of Product, 1982 Weights
[Index numbers, 1982=100]
Seasonally adjusted
Line
1985
1986
1987
1988
IV
. . .
Housing
Household operation
Electricity and gas
Other
Transportation
Medical care
Other
III
IV
1989
1988
I
II
HI
IV
I
n
112.2
115.3
120.7
125.9
113.8
114.3
114.4
115.6
116.7
118.5
120.2
121.4
122.8
123.6
125.1
126.6
128.1
129.6
131.6
2
105.2
106.5
110.3
112.9
105.4
105.7
106.0
106.9
107.5
108.7
109.8
110.9
111.6
111.9
112.4
113,2
114.1
114.7
114.8
108.6 110.9
100.7 100.9
106.3 108.0
116.5 118.6 109.1
102.1 103.8 100.7
112.7 118.5 106.7
109.5
100.7
107.0
110.3
100.6
107.3
111.4
101.1
108.5
112.6
101.1
109.0
113.9 116.0 117.6
101.9 101.7 102.4
110.6 112.0 113.3
118.4
102.4
114.9
118.0
102.9
116.2
117.9
103.5
117.8
118.9
104.2
118.8
119.5
104.7
121.1
120.5
104.8
121.7
120.6
104.3
123.0
6
Nondurable goods
Services
II
1
.
.
Motor vehicles and parts
Furniture and household equipment
Other
Food
Clothing and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
I
3
4
5
Personal consumption expenditures.
Durable goods
1987
1986
1985
,
107.9
107.8
112.6
117.2
109.1
108.4
106.8
107.7
108.3
110.4
112.4
113.3
114.3
114.7
116.6
118.1
119.4
121.0
124.5
7
8
9
10
11
12
108.6
106.3
96.0
113.9
94.3
116.5
112.2 117.2
106.0 111.0
75.4 78.3
116.2 121.5
76.3 76.6
121.7 127.6
122.2
115.8
79.1
127.5
76.8
134.5
109.8
107.1
96.4
115.7
96.4
118.4
110.3
106.0
89.8
116.1
88.7
119.9
111.0
105.0
74.6
115.5
76.4
120.9
113.1
106.3
69.6
116.3
71.0
122.4
114.4
106.8
67.6
117.1
68.9
123.7
115.5
108.7
74.5
119.1
73.8
125.3
117.1
111.5
77.7
120.7
76.1
126.8
117.7
111.0
80.7
122.3
78.5
128.3
118.7 119.4
112.9 113.3
80.5 77.8
123.7 125.2
78.1 77.3
129.9 131.7
121.0
116.8
79.0
126.9
78.6
133.5
123.5
115.1
80.4
128.2
77.5
135.2
124.9
117.9
79.1
129.8
73.9
137.4
126.6
118.2
79.9
132.1
77.6
139.4
129.0
119.9
92.7
134.4
80.2
141.7
13
117.2
123.1
129.4
135.5
119.5
120.8
122.2
123.8
125.4
127.0
128.5
130.2
131.9
133.2
134.7
136.2
138.1
139.8
141.2
14
15
16
17
18
19
20
117.7
115.8
114.9
116.8
109.4
121.6
115.7
124.3
118.3
113.9
122.7
113.2
127.6
123.0
130.0
118.3
111.9
124.9
120.4
135.1
132.2
136.4
119.9
112.7
127.4
126.6
144.5
137.9
120.6
116.5
114.1
119.0
110.0
124.7
117.9
121.9
117.8
115.3
120.5
111.9
125.3
119.9
123.7
118.5
114.7
122.4
112.4
126.6
121.6
125.1
118.8
113.9
123.9
113.0
128.3
123.9
126.6
117.9
112.0
124.1
115.6
130.1
126.4
127.8
117.8
111.7
124,0
118.7
132.0
128.9
129.0
118.2
112.0
124.7
119.6
134.2
131.2
130.6
118.6
112.0
125.5
119.2
136.4
133.5
132.7
118.6
111.8
125.6
124.3
137.7
135.1
134.3 135.3
118.7 119.6
111.9 112.1
125.7 127.3
123.5 126.6
140.1 143.1
136.3 137.2
137.1
119.8
112.0
127.9
127.6
146.0
138.2
138.9
121.7
114.7
128.8
128.5
148.5
139.9
140.2
122.4
115.5
129.5
130.4
151.3
141.5
141.4
122.9
115.5
130.5
131.0
153.4
143.3
Table 7.11.—Implicit Price Deflators for Personal Consumption Expenditures
Table 7.10.—Fixed-Weighted Price Indexes for Personal Consumption
Expenditures by Type of Product, 1982 Weights
[Index numbers, 1982=100]
[Index numbers, 1982=100]
Line
1985
1986 1987
1988
1
112.2 115.3
2
105.2 106.5 110.3
112.9
Motor vehicles and parts
New autos (65)
Net purchases of used autos (66)
Other motor vehicles (67)
Tires tubes accessories and other parts (68)
3
4
5
6
7
108.6
108.8
121.1
110.3
94.4
110.9
113.5
118.0
115.2
94.3
116.5
117.5
134.7
117.8
95.4
118.6
119.9
135.4
119.4
98.2
Furniture and household equipment
Furniture, including mattresses and bedsprings (29)
Kitchen and other household appliances (30)
China, glassware tableware, and utensils (31)
Radio and television receivers, records, and musical instruments (87)...
Other durable house furnishings (32)
8
9
10
11
12
13
100.7
107.5
100.9
102.5
87.9
73.0
100.9
109.9
100.3
105.3
84.0
109.2
102.1
112.5
100.2
108.4
83.0
111.6
103.8
116.1
100.8
110.1
82.2
115.1
Other
Ophthalmic products and orthopedic appliances (46)
Wheel goods, durable toys, sports equipment, boats, and pleasure
aircraft (86).
Jewelry and watches (18)
Books and maps (83)
14
15
16
106.3 108.0 112.7 118.5
111.1 114.7 121.3 127.6
104.5 104.7 106.8 110.7
17
18
101.0 101.9 109.7 117.9
119.7 125.7 128.8 133.4
19
107.9 107.8 112.6
117.2
20
21
22
23
108.6
106.5
113.8
111.0
117.2
114.6
123.5
119.7
122.2
119.4
128.8
124.1
24
25
108.2 108.6 111.7 116.2
108.6 112.8 115.0 117.8
26
117.1 124.9 130.1 137.7
27
28
29
30
106.3
103.1
106.5
107.4
Durable goods
Nondurable goods
Food
Food purchased for off-premise consumption (3)
Purchased meals and beverages (4)
Food furnished employees (including military) and food produced
and consumed on farms (5+6).
Addenda: Food excluding alcoholic beverages(S)
Alcoholic beverages purchased for off-premise
consumption (9).
Oth$r alcoholic beverages (10)
Clothing and shoes
Shoes (12)
Women's and children's clothing and accessories except shoes (14)
Men's and boys' clothing and accessories except shoes (15+16)
112.2
109.4
118.7
114.8
120.7 125.9
106.0
102.7
105.6
108.6
111.0
105.9
112.0
111.7
115.8
110.8
116.9
116.2
79.1
Gasoline and oil (70)
31
96.0
75.4
78.3
Fuel oil and coal (40)
32
94.3
76.3
76.6
76.8
Other
Tobacco products (7)
Toilet articles and preparations (21)
Semidurable house furnishings (33)
Cleaning and polishing preparations, and miscellaneous household
supplies and paper products (34).
Drug preparations and sundries (45)
Nondurable toys and sport supplies (85)
. .
Stationery and writin11 supplies (35)
.
Net foreign remittances (105 less 107)
Other (84+89)
33
34
35
36
37
116.5
134.8
113.1
113.7
110.1
121.7
144.0
116.9
116.0
112.4
127.6
154.3
119.7
120.7
116.3
134.5
168.3
124.2
121.4
120.0
38
39
40
41
42
124.9
99.3
110.2
100.6
114.1
133.2
100.0
111.8
129.9
118.0
142.1
102.2
113.3
155.6
122.5
151.8
106.6
115.8
155.7
126.7
43
44
45
46
47
48
117.2
117.7
118.1
120.2
93.2
120.7
123.1
124.3
125.3
127.9
85.8
126.0
129.4
130.0
131.4
133.6
82.7
133.8
135.5
136.4
138.1
138.8
87.7
141.6
49
50
51
52
53
54
55
118.3
115.3
111.4
128.9
125.6
103.7
121.1
113.2
118.2
116.9
122.8
111.6
98.9
125.2
139.4
92.6
123.4
118.3
114.9
106.3
135.8
124.9
104.9
127.0
120.4
126.8
121.9
125.9
118.2
103.3
131.9
136.9
97.5
127.7
119.9
116.5
105.6
143.3
124.4
106.0
133.2
56
57
58
59
60
61
62
63
64
65
115.8
113.7
117.1
122.4
119.8
102.5
113.1
109.4
110.3
110.3
113.3
107.6
106.7
118.0
126.4
103.8
116.5
Medical care
Physicians (47)
Dentists (48)
Other professional services (49)
Privately controlled hospitals and sanitariums (50)
Health insurance (51)
66
67
68
69
70
71
121.6
121.9
122.6
118.5
118.6
145.5
127.6
130.8
129.5
125.0
123.1
150.3
135.1
140.4
138.2
128.9
129.2
163.7
144.5
150.5
147.6
136.4
137.6
180.4
Other
Personal care
Cleaning storage and repair of clothing and shoes (17)
Barbershops, beauty parlors baths, and health clubs (22)
Other (19)
72
73
74
75
76
77
78
79
115.7
115.2
116.4
113.9
116.3
123.5
95.7
132.2
123.0
119.4
121.2
117.5
121.2
134.1
96.0
141.0
132.2
124.0
126.6
121.4
126.4
149.5
101.2
149.5
137.9
129.0
132.0
126.1
131.6
155.0
85.9
159.4
80
126.1 142.3 169.4 175.0
81
82
83
84
85
86
87
88
89
90
124.4
112.4
120.7
111.0
113.4
118.7
112.3
108.1
109.2
-9.5
Services
Housing
.
.
.
Owner-occupied nonfarm dwellings space rent (24)
Tenant-occupied nonfarm dwellings—rent (25)
Rental value of farm dwellings (26)
Other (27)
Household operation . . ..
Electricity (37).
Gas (38)
Water and other sanitary services (39)
Telephone and telegraph (41)
Domestic service (42)
,
Other (43)
Transportation
User-operated transportation (69+71+72)
Purchased local transportation
Transit systems (74)
Other (75+76)
Purchased intercity transportation
Railway (excluding commutation) (78)
Bus (79) .
Airline (80)
Other (81)
.
.
Bank service charges, trust services, and safe deposit box rental
(57).
Services furnished without payment by financial intermediaries
except life insurance carriers and private noninsured pension
plans (58).
Other (59+60+61+62)
Recreation
Admissions to specified spectator amusements (90)
Other (88+94+95+96+97)
Private education and research
Higher education (99)
Elementary and secondary schools (100)
Other (101)
Net foreign travel (104 less 106)
»
132.8
116.9
126.2
115.4
117.0
123.8
115.2
110.7
112.3
45.7
126.6
133.0
127.5
128.7
126.5
109.4
139.1
142.1
104.0
130.1
142.4 150.2
120.7 124.8
133.1 140.2
118.7 122.2
122.0 128.1
129.1 134.7
120.3 126.8
115.1 121.5
116.91 "123.1
67.6 111.3
NOTE.—The figures in parentheses are the line numbers of the corresponding items in table 2.4.
91
SURVEY OF CURRENT BUSINESS
July 1989
Year and month
Personal
consumption
expenditures
Durable goods
Nondurable goods
Services
1985.
1986
1987
1988
111 6
114.3
1198
124.5
1048
105.6
108 1
110.1
107 5
107.3
112 1
116.3
1168
122.4
1290
134.9
1985
January
February
March
April.
May
June .
July ..
August ,
September
October
November
December
1098
1100
1107
1108
111.2
111 6
111 8
112.0
112.3
112.7
113.1
1135
1045
104.5
1054
1045
105.2
1047
1047
104.8
105.2
104.8
104.6
1048
105 8
106.0
1070
1073
107.4
107 6
1078
107.6
107.8
108.1
108.7
1092
1143
114.6
115 1
1153
116.0
1165
1168
117.4
118.0
118.6
119.0
1193
1986
January
February
March
April.
.
May..
June
July
August
September
October
November
December
1138
113.4
113 1
1131
1135
113.9
1142
114.6
115.2
1155
115.8
116.1
1053
104.9
1047
104.9
1052
105.1
1055
106.0
106.7
1058
105.7
106.9
1093
107.9
1066
1059
1064
106.6
1067
107.0
107.5
1075
107.7
108.1
1198
120.0
1204
121.1
1215
122.1
1226
123.2
123.9
1246
124.9
125.1
1987
January
February
March
April
May.
June.
July
August
September
October
November
December
117.1
1176
118.1
118.7
1192
1197
119.9
1205
121 1
121.5
121.9
121 9
106.2
1067
107.0
107.4
1075
1082
108.3
1089
1091
109.0
109.1
1091
109.3
1100
110.7
111.4
111 8
1124
112.4
1128
1132
113.6
113.8
1138
126.1
1266
127.0
127.6
1282
1287
129.1
1297
130.5
131.0
131.6
1317
1988
January
February
March
April
May
June.
July.
August . .
September
October
November
December
122.2
122.3
122.8
123.5
124.0
1242
1247
1250
125.7
126.2
126.4
126.9
109.5
1091
109.3
109.3
109.6
1098
1098
1103
110.4
110.9
110.9
111.7
113.8
113.8
114.5
115.5
116.0
1163
1168
116.9
117.7
118.1
118.1
118.5
132.3
132.7
133.1
133.7
134.3
1346
135 1
135.5
136.2
136.7
137.3
137.9
127.7
127.9
128.6
1294
1299
130.1
111.7
111.3
110.7
1110
1109
111.1
119.5
119.7
121.0
122.8
123.6
123.4
138.7
138.9
139.5
140.0
140.4
1408
..
....
1989
January
February
March
April
May.
June
92
SURVEY OF CURRENT BUSINESS
July 1989
Table 7.12.—Fixed-Weighted Price Indexes for Purchases of Structures by
Type, 1982 Weights
Table 7.13.—Fixed-Weighted Price Indexes for Private Purchases of Producers'
Durable Equipment by Type, 1982 Weights
[Index numbers, 1982=100]
[Index numbers, 1982=100]
Line
1985
1986
1987
1
1052
1070
1092
1138
2
3
1040
1056
1078
1125
100.7
1016
1017
107 1
4
1007
101 6
101 7
107 1
Nonresidential buildings, excluding farm
Industrial
.
Commercial
Religious, educational, hospital and institutional, and
other l.
5
6
7
8
1122
1122
1122
112.2
1154
1154
1154
115.5
120 1
1202
120 1
120.2
1243
1244
1243
124.3
Public utilities
Railroads
Telephone and telegraph
Electric light and power
Gas . .
Petroleum pipelines . .
....
9
10
11
12
13
14
1070
1096
1065
1073
1046
1046
1074
HI 4
1084
1076
101 6
101 8
1094
111 7
1103
109 6
104 6
1045
1158
1164
1170
116 3
1105
1105
Mining exploration, shafts, and wells
Petroleum and natural gas
Other
Other 2 . . .
15
16
17
18
19
1120
755
728
112 1
109 1
1154
723
69 1
115 5
1107
1244
697
657
124 3
115 5
20
21
22
1122
111 1
1154
113 3
1202
630
58 8
120 1
1109
120 1
117 7
1085
1112
1164
1201
23
1085
1112
116 3
1200
Nonfarm
Structures
Mobile homes
Additions and alterations
Major 3replacements
Other
24
25
26
27
28
29
1085
1084
1017
1095
1104
1083
111 2
111 6
1027
111 8
111 8
111 6
1200
121 1
1094
1199
1190
121 1
Farm
30
1083
1104
1164
1174
1039
1164
1159
1175
115 1
31
32
1085
1084
111 6
111 6
1174
1173
121 1
121 1
33
110.5
113.1
115.0
119.8
Purchases of structures
Private
Nonresidential
New
Brokers' commissions on sale of structures
Net purchases of used structures
Residential
.
. .
New
Brokers' commissions on sale of structures
Net purchases of used structures
Government structures and new construction force-account
compensation.
New
1243
1224
1185
34
1105
113 1
1149
1198
Buildings excluding military
Residential
Industrial, educational hospital and other 4 . ..
35
36
37
1106
108 1
1126
1128
111 8
115 8
1147
1188
1204
1195
121 7
1246
Highways and streets
Military facilities
Conservation a n d development
38
39
40
1137
1089
1044
1156
1202
1057
1147
121 0
107 1
1209
1253
1102
. . .
41
42
43
44
1074
1079
1063
1079
1092
1095
1086
1095
1108
111 1
1102
1109
1150
115 5
114 1
1170
. .
45
1093
1120
1173
121 2
. . . .
Sewer and water systems
Water supply facilities
Other 5
Net purchases of used structures
1. Consists of hotels and motels, buildings used primarily for social and recreational activities, and
buildings not elsewhere classified, such as passenger terminals, greenhouses, and animal hospitals.
2. Consists of streets, dams and reservoirs, sewer and water facilities, parks, airfields, etc.
3. Consists of dormitories, fraternity and sorority houses, nurses' homes, etc.
4. Consists of general office buildings, police and fire stations, courthouses, auditoriums, garages, passenger
terminals, etc.
5. Consists of electric and gas facilities, transit systems, airfields, etc.
Line
Photocopy and related equipment
Industrial equipment
Fabricated metal products
Engines and turbines
.
Metal working machinery
... .
Special industry machinery n e e
......
General industrial, including materials handling, equipment
Electrical transmission, distribution, and industrial apparatus
Transportation and related equipment
Trucks, buses, and truck trailers
Autos .
Aircraft
Ships and boats
Railroad equipment
F ^T
j f
Tractors
Agricultural machinery except tractors
Construction machinery except tractors
•
,
Service industry machinery
Electrical eauioment n e e
Other
Less* Sale of equipment scrap excluding autos
Residential equipment
n.e.c. Not elsewhere classified.
.
1986
1987
1988
1
Private purchases of producers' durable equipment
Nonresidential equipment
Information processing and related equipment
Office, computing, and accounting machinery
Communication equipment
1985
102.6
105.8
107.7
110.0
2
3
4
5
6
7
1988
102.6
105.9
107.8
110.2
65.6
112.5
111.0
89.6
59.0
115.3
114.4
92.6
54.0
118.1
117.3
95.5
52.4
121.3
120.1
96.6
100.5
98.9
106.4
110.2
105.2
109.2
100.4
103.1
111.7
118.7
111.2
111.2
99.9
105.6
115.2
125.1
115.3
113.1
104.2
110.0
119.0
131.0
120.6
115.0
110.8
94.2
104.2
104.9
105.3
116.3
112.0
105.1
105.7
106.6
116.9
118.8
107.2
106.9
105.9
119.1
118.4
108.9
111.7
108.4
111.1
108.9
110.7
108,9
99.6
107.4
105.1
108.8
118.7
114.3
113.8
118.5
97.0
110.7
107.7
115.4
125.1
116.6
115.8
123.3
101.2
113.5
109.5
119.9
137.3
185.9
99.9
100.4
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
.... 23
24
25
26
27
28
29
30
118.0
114.9
111.9
112.7
113.1
97.5
109.6
105.1
111.9
115.3
31
100.0
99.7
93
SURVEY OF CURRENT BUSINESS
July 1989
Table 7.14.—Fixed-Weighted Price Indexes for Exports and Imports of Goods and Services, 1982 Weights
[Index numbers, 1982=100]
Seasonally adjusted
Line
1985
1986
1987
1988
1985
IV
I
1988
1987
in
II
IV
I
II
III
IV
I
II
1989
III
IV
I
II
114.5
1
103.7
103.6
105.6
111.2
103.6
103.5
103.3
103.5
104.2
105.1
105.8
106.5
108.1
110.0
112.6
113.3
113.7
Merchandise
Durable goods
Nondurable goods
2
3
4
98.6
100.0
96.8
96.3
99.4
92.2
97.4
101.0
92.7
104.1
104.3
103.9
97.5
99.6
94.5
97.7
99.3
95.5
96.8
99.2
93.8
95.4
99.2
90.5
95.3
99.7
89.5
96.1
100.4
90.4
96.9
100.9
91.8
97.8
101.2
93.3
98.6
101.6
94.8
100.7
102.6
98.2
102.8
103.9
101.5
106.2
105.1
108.1
106.3
105.5
108.0
106.1
105.8
107.1
106.4
106.3
106.7
Services
Factor income
Other
5
6
7
111.0
112.5
108.2
114.1 117.4
115.7 119.8
111.3 113.1
121.3
124.2
116.3
112.2
114.0
109.1
112.5
114.2
109.7
117.1 117.7
119.4 120.4
113.0 113.1
118.2
121.1
112.9
119.2
121.8
114.5
120.7
123.4
115.8
121.9
124.8
116.8
123.3
126.4
117.9
124.8
127.7
119.6
126.2
129.3
120.8
Exports of goods and services
103.4
1986
113.4 114.8
115.1 116.5
110.6 111.9
115.6 116.3
117.1 118.2
112.8 112.9
8
95.7
94.0
101.2
106.3
96.8
95.9
92.5
92.9
94.7
97.9
100.4
101.9
103.3
104.5
106.1
106.2
107.3
109.5
111.2
Durable goods
Nondurable goods
9
10
11
92.5
94.9
90.2
87.8
102.5
72.2
95.1
109.8
79.4
99.5
118.0
80.0
93.4
96.8
89.8
91.4
99.4
83.3
86.2
101.6
70.6
85.9
103.9
67.7
87.9
105.1
70.4
91.4
107.1
75.3
94.4
109.5
78.9
96.0
110.2
81.6
97.2
112.6
81.5
98.1
115.7
80.2
99.7
117.8
81.2
99.1
117.8
80.1
99.8
120.5
78.7
102.5
121.0
83.5
104.4
120.5
87.8
Factor income
Other
12
13
14
104.9
112.1
99.3
112.0
115.2
109.5
118.8
119.1
118.6
126.0
123.3
128.1
106.8
113.5
101.6
109.0
113.6
105.4
110.9
114.6
108.1
113.4
116.0
111.4
114.8
116.6
113.5
116.8
117.5
116.3
118.1 119.2
118.7 119.6
117.6 118.9
121.1
120.3
121.8
123.1
121.0
124.8
124.9
122.5
126.7
126.8
124.0
129.1
129.3
125.5
132.2
130.3
126.8
133.0
131.4
128.4
133.7
Imports of goods and services
Table 7.15.—Fixed-Weighted Price Indexes for Merchandise Exports and Imports by Type of Product and by End-Use Category, 1982 Weights
[Index numbers, 1982=100]
Seasonally adjusted
Line
1985
1986
1987
1988
1985
rv
...
.
98.6
96.3
97.4
104.1
97.5
2
3
4
5
6
7
8
9
10
11
12
13
95.6
95.7
95.6
95.7
99.4
108.9
99.6
93.8
104.1
101.1
101.1
101.1
87.9
91.6
91.6
91.6
99.0
111.4
103.4
99.0
106.9
95.8
93.4
98.3
82.1
95.5
95.5
95,4
100.3
113.3
107.1
101.7
111.4
96.1
92.4
99.8
99.6
104.1
104.1
104.0
102.6
115.6
111.7
106.4
115.9
101.0
94.2
107.7
89.9
95.0
95.0
95.0
98.7
109.8
99.9
94.4
104.2
100.1
100.1
100.1
99.5
93.4
14
Merchandise imports
Foods, feeds, and beverages
Industrial supplies and materials excluding petroleum
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except autos
. ..
»
Autos
.
Consumer goods . .
Durable goods
Nondurable goods
Other . .
Durable goods....
Nondurable goods
97.7
1
Merchandise exports
Foods feeds and beverages
Industrial supplies and materials
Durable goods
Nondurable goods
Capital goods except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
I
....
92.5
87.8
95.1
15
16
17
18
19
20
21
22
23
24
25
26
27
97.8
87.4
87.4
87.4
84.9
90.7
107.0
98.5
94.9
103.7
96.6
96.6
96.6
104.9
84.4
84.5
84.3
45.5
100.3
118.7
106.3
104.3
109.1
103.1
103.1
103.1
103.6
90.2
90.4
90.0
54.9
109.0
125.7
115.0
111.8
119.5
110.3
110.3
110.3
109.9 97.7
104.1 85.7
104.1 85.7
104.0 85.7
45.6 84.2
115.3 93.8
132.4 110.2
123.1 100.4
119.2 97.0
128.7 105.2
119.2 98.2
119.2 98.2
119.2 98.2
1989
1988
1987
1986
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
96.8
95.4
95.3
96.1
96.9
97.8
98.6
100.7
102.8
106.2
106.3
106.1
106.4
93.1 91.8
94.7 91.9
94.7 91.9
94.7 91.9
98.4 98.7
110.3 111.4
101.8 102.7
97.4 97.7
105.2 106.6
97.6 96.5
95.2 93.7
100.0 99.3
84.8
90.3
90.3
90.3
99.1
111.8
103.2
98.7
106.8
94.9
92.4
97.5
82.4
89.7
89.7
89.7
99.6
112.3
105.7
101.8
108.8
94.4
92.4
96.5
81.7 81.4 82.0
91.8 94.4 96.8
91.8 94.4 96.8
91.8 94.4 96.8
100.2 100.2 100.3
112.6 113.3 113.4
105.9 106.4 107.2
101.3 100.6 101.3
109.5 111.0 111.9
95.2 96.0 96.0
92.2 92.7 92.1
98.2 99.4 99.9
83.3
98.5
98.5
98.5
100.1
113.8
108.7
103.2
113.0
97.2
92.6
101.7
88.2
101.2
101.2
101.2
101.2
113.7
110.7
104.5
115.5
98.0
92.1
103.8
94.0
103.4
103.4
103.4
102.2
114.3
111.1
105,8
115.3
100.4
94.6
106.2
109.0
105.8
105.8
105.8
102.8
116.9
111.8
107.3
115.3
103.3
96.3
110.2
108.3
105.7
105.7
105.7
103.4
117.6
113.1
107.8
117.2
102.2
93.8
110.5
106.8
104.4
104.4
104.4
103.7
118.6
115.8
110.1
120.3
102.2
94.2
110.2
104.7
104.9
104.9
104.9
104.5
119.1
117.0
112.0
120.9
102.8
95.2
110.5
91.4
86.2
85.9
87.9
91.4
94.4
96.0
97.2
98.1
99.7
99.1
99.8
102.5
104.4
103.7 106.9
84.9 83.7
85.0 83.8
84.9 83.7
68.9 42.2
96.4 99.6
114.6 117.7
103.1 105.3
100.4 103.1
107.0 108.4
100.5 102.4
100.5 102.4
100.5 102.4
103.0
84.0
84.1
83.9
36.6
102.2
120.1
108.1
106.5
110.4
104.2
104.2
104.2
106.2
84.9
85.0
84.7
40.7
103.2
122.3
108.3
106.8
110.5
105.4
105.4
105.4
102.9
85.3
85.4
85.1
50.2
107.0
123.7
111.5
109.3
114.6
107.1
107.1
107.1
101.0
88.3
88.5
88.1
55.5
109.5
125.8
114.2
111.1
118.7
109.7
109.7
109.7
104.3
92.7
92.9
92.5
57.7
108.2
125.8
115.6
112.0
120.7
111.1
111.1
111.1
106.2
94.3
94.5
94.1
55.4
111.7
127.5
118.5
114.7
123.9
113.3
113.3
113.3
109.1
99.9
100.1
99.8
48.4
113.7
130.1
121.6
117.5
127.3
116.7
116.7
116.7
109.6
103.7
103.8
103.6
48.3
115.2
131.7
123.7
120.1
128.8
119.0
119.0
119.0
110.3
105.2
105.2
105.1
45.2
114.6
132.4
122.7
118.4
128.7
119.2
119.2
119.2
110.6
107.4
107.4
107.4
40.8
118.0
135.2
124.4
120.6
129.9
121.7
121.7
121.7
109.9
110.1
110.0
110.1
49.4
117.6
135.5
125.2
121.0
131.1
122.5
122.5
122.5
107.9
109.9
109.9
110.0
58.2
117.5
134.0
125.8
121.0
132.7
122.2
122.2
122.2
94
SURVEY OF CURRENT BUSINESS
July 1989
Table 7.16.—Fixed-Weighted Price Indexes for Government Purchases of Goods and Services by Type, 1982 Weights
[Index numbers, 1982=100]
Seasonally adjusted
Line
1985
1986
1987
1988
1985
IV
1987
1986
I
II
III
IV
I
II
1988
III
1
Nondefense . .
Durable goods
Nondurable goods
.
Commodity Credit Corporation inventory change
Other nondurables
...
.. .
Services
. .
Compensation of employees
.
.
Other services
.
Structures
State and local
Durable goods
Nondurable goods
Services
Compensation of employees
Other services
Structures
.. .
.
113.3 117.9 111.0
110.9 110.5 110.0 110.7 112.1 113.0 113.6
110.5
110.6
88.0
112.9
114.2
113.6
115.6
110.3
108.8
111.1
109.5
67.7
116.1
116.9
117.0
116.9
114.4
117.2
113.8
108.3
68.1
120.7
121.7
121.2
122.9
118.5
120.4
117.9
109.3
73.9
125.8
127.2
126.7
128.1
123.2
124.2
111.4
108.9
87.3
114.9
116.3
116.4
116.1
112.1
113.6
111.3
108.1
84.6
115.3
116.6
116.6
116.6
112.8
116.0
110.8
109.2
67.9
115.8
116.9
117.0
116.7
113.7
116.9
110.5
109.5
58.6
116.2
116.9
116.9
117.0
114.8
117.3
111.6
111.2
59.8
117.0
117.3
117.3
117.4
116.4
118.5
112.7
108.2
63.1
119.6
120.9
120.6
121.7
116.9
120.0
113.5
108.0
69.2
120.3
121.7
121.1
122.9
117.4
118.7
12
13
14
15
16
17
18
19
20
110.0
99.3
109.4
99.8
112.0
99.6
118.0 110.1
101.6
99.7
110.0
99.7
109.9
99.6
109.0
99.7
108.7
100.1
110.6
99.8
100.4
113.7
115.6
110.8
107.5
94.7
115.7
117.3
113.2
109.4
96.8
120.1
122.8
115.8
111.3
98.6
124.2
127.5
119.2
115.2
91.7
115.0
116.6
112.4
109.0
96.3
115.6
117.3
112.9
109.2
96.7
115.9
117.6
113.3
109.6
93.9
116.3
117.7
114.2
109.8
96.6
118.9
121.7
114.6
110.4
115.3 119.2 124.3 130.4 117.0 117.8
118.4 119.4 121.0 122.3
123.5 125.1 126.4
22
23
24
25
26
27
...
110.6
21
Nondurable goods
Services
.. .
Compensation of employees
Military
Civilian
Other services
Structures
114.9 115.1
110.4
3
4
5
6
7
8
9
10
11
National defense
113.2 115.5 119.6 125.1 114.4
2
Government purchases of goods and services
Federal
106.4
99.2
118.4
118.6
117.4
110.8
108.1
89.4
123.4
123.8
121.5
112.6
110.4
94.3
129.3
130.0
125.7
113.8
108.4
90.4
124.1
124.5
121.9
112.9
110.6
95.0
129.9
130.6
126.6
114.5
113.4
97.3
136.7
137.8
131.6
119.6
99.1
114.4
116.2
111.7
108.4
107.1
99.7
120.3
120.6
119.1
112.4
107.3
95.3
121.9
122.2
120.6
112.7
115.4 116.6 118.0 119.0 120.2
IV
108.5
88.2
124.7
125.2
122.4
113.3
109.7
89.2
126.7
127.5
123.4
112.9
109.9
92.8
127.9
128.7
124.5
113.4
I
II
1989
III
I
11
125.9
126.9
129.4
130.5
114.5 116.3 117.4 118.7
119.3 122.3
122.7
114.1
108.5
69.2
120.8
121.7
121.1
123.0
119.1
121.1
114.9
108.4
71.0
122.0
122.6
122.0
123.9
120.6
121.9
116.6
108.2
71.2
124.6
126.2
125.6
127.6
121.4
121.6
117.7
109.1
73.9
125.6
127.2
126.7
128.1
122.5
122.6
118.3
109.6
75.7
126.0
127.5
127.1
128.2
123.2
123.8
119.0
110.1
74.7
126.9
127.7
127.3
128.3
125.5
128.8
122.0
112.2
74.9
130.5
133.1
132.6
134.1
125.5
130.8
122.4
112.8
75.3
130.9
133.5
132.8
134.9
126.0
131.3
111.6
99.7
112.5
99.1
113.4
99.6
115.6
100.0
116.7
101.3
119.7 120.0
101.7 103.3
123.0
104.6
123.2
105.2
96.9
119.9
122.9
115.2
110.9
97.4
120.5
123.1
116.3
111.6
96.3
121.0
123.5
117.0
112.3
97.9
123.3
127.1
117.6
113'.7
98.7
124.1
127.5
118.7
114.5
99.8
98.1
124.5 124.9
127.6 127.7
119.7 120.6
115.9 116.6
103.1
128.9
133.4
122.1
118.2
104.1
129.9
134.1
123.3
120.0
128.1 129.6
131.2 132.6 134.7
136.4
111.8
95.8
134.5
135.6
129.7
117.6
114.0
97.7
137.8
139.0
132.3
120.4
116.9
104.1
143.2
144.5
137.1
124.3
110.8
96.2
130.9
131.7
127.4
115.0
121.3 123.1 124.4
IV
111.1
96.5
132.5
133.4
128.3
115.9
112.9
97.1
136.2
137.3
131.2
118.7
115.0
98.4
139.5
140.8
133.4
121.3
116.2
101.8
141.5
142.7
135.8
122.9
IV
I
Table 7.17.—Fixed-Weighted Price Indexes for National Defense Purchases of Goods and Services, 1982 Weights
[Index numbers, 1982=100]
Seasonally adjusted
Line
1985
1986
1987
1988
rv
I
113.8 117.9 111.4 111.3
II
Military equipment
Aircraft
Missiles.
.
Ships
Vehicles
Electronic equipment
Other
Other durable goods
..
Nondurable goods
..
.
Services
Compensation of employees
Military
Civilian .
..
....
Other services
Contractual research and development
Installation support '
Weapons suooort 2
Personnel support
Transportation of materiel
Travel of persons
Other
Structures
Military facilities
Other
.....
. . . . . .
110.5 111.1
110.6
109.5
108.3
109.3
108.9
108.1 109.2
3
4
5
6
7
8
9
10
112.7
123.8
107.7
114.5
77.4
106.0
104.5
101.6
111.8
116.3
114.6
118.3
83.9
107.0
105.9
99.3
110.1
109.9
114.2
120.9
89.7
106.4
108.2
99.9
110.8
106.9
117.7
125.6
89.8
108.1
111.9
102.4
111.1
119.0
108.4
116.6
77.8
105.9
104.4
99.1
110.2
116.3
108.3
117.0
77.7
106.4
105.5
98.9
11
.
1
2
National defense purchases
Durable goods
Petroleum products
Ammunition
1986
1985
88.0
67.7
68.1
73.9
87.3
12
13
14
79.7
104.8
105.8
52.1
94.4
107.3
51.1
98.2
109.9
58.2
98.9
115.5
79.8
100.1
106.3
15
112.9
116.1 120.7
125.8
16
17
18
19
20
21
22
23
24
25
26
114.2
113.6
115.6
110.3
111.5
115.3
112.8
110.3
87.8
101.9
116.9
117.0
116.9
114.4
113.6
120.5
113.8
129.1
90.3
102.4
121.7
121.2
122.9
118.5
115.1
126.8
114.6
146.0
92.5
103.7
127.2
126.7
128.1
123.2
120.3
130.6
117.6
156.5
94.6
107.2
27
108.8
117.2
120.4
28
29
108.9
108.7
120.2
112.8
121.0
119.5
110.8 110.5 111.6
I
II
112.7 113.5
III
IV
I
II
III
122.4
110.1 112.2
112.8
111.0
107.0
117.4
126.6
90.6
108.1
112.3
103.0
111.4
106.6
118.1
127.3
91.0
109.2
113.9
103.9
113.8
110.5
118.7
130.2
90.2
110.6
115.2
105.0
114.2
111.3
118.5
130.0
91.0
110.8
115.9
106.2
73.9
75.7
74.7
74.9
75.3
58.6
98.5
114.5
60.6
99.3
115.7
58.7
99.5
117.8
58.5
101.1
118.1
59.1
101.3
118.0
124.6
125.6
126.0
126.9
130.5
130.9
126.2
125.6
127.6
121.4
118.2
129.1
116.6
155.0
93.6
103.4
127.2
126.7
128.1
122.5
119.9
129.4
116.7
157.2
92.3
108.0
127.5
127.1
128.2
123.2
120.9
131.2
117.7
152.6
93.4
108.5
127.7
127.3
128.3
125.5
122.1
132.8
119.2
161.2
99.0
108.8
133.1
132.6
134.1
125.5
122.2
132.8
119.9
157.9
99.8
111.9
133.5
132.8
134.9
126.0
122.2
135.2
120.1
155.7
100.0
111.3
121.1 121.9
121.6
122.6
123.8
128.8
130.8
131.3
121.1
122.9
121.4
121.8
123.0
122.0
124.5
122.9
132.3
123.6
132.5
128.4
132.5
129.5
111.2
108.2
108.0 108.5 108.4
108.2
109.1 109.6
111.4
118.2
109.8
117.9
77.1
106.8
106.4
99.3
111.7
116.2
110.2
118.2
89.8
107.1
106.6
99.5
113.8
114.3
130.1
120.0
91.0
107.5
105.2
99.6
110.2
111.5
110.4
120.0
91.2
107.1
107.5
98.9
110.0
111.2
109.9
120.3
90.3
105.9
108.0
99.4
110.3
108.7
118.2
121.2
89.2
106.4
108.6
100.3
110.0
108.0
118.1
122.2
87.9
106.3
108.6
101.0
109.8
106.2
118.1
123.5
87.9
107.7
109.8
100.9
110.8
107.7
117.1
124.9
89.5
107.2
111.4
101.6
84.6
67.9
58.6
59.8
63.1
69.2
69.2
71.0
71.2
77.5
93.6
106.3
52.3
94.6
107.3
39.0
92.9
107.2
39.7
96.3
108.4
43.5
101.1
107.2
52.0
101.0
110.1
52.2
99.0
110.8
56.7
91.8
111.3
54.8
98.2
114.0
114.9
115.3 115.8 116.2
117.0
119.6 120.3
120.8
122.0
116.3
116.4
116.1
112.1
113.0
117.0
114.0
119.5
85.5
102.8
116.6
116.6
116.6
112.8
113.4
118.3
114.1
122.4
85.9
101.3
116.9
117.0
116.7
113.7
113.0
119.1
113.8
126.9
91.3
102.0
117.3
117.3
117.4
116.4
114.6
123.6
113.7
134.3
92.8
104.2
120.9
120.6
121.7
116.9
113.8
125.0
113.8
139.6
92.5
104.3
121.7
121.1
122.9
117.4
114.2
125.6
113.7
143.7
91.0
103.4
121.7
121.1
123.0
119.1
115.5
129.0
114.3
145.3
91.7
103.4
122.6
122.0
123.9
120.6
116.9
127.7
116.4
155.5
94.8
103.8
124.2
113.6 116.0 116.9 117.3 118.5 120.0
118.7
125.3
122.6
116.1
110.0
119.1
118.1
121.1
121.1
119.2
111.1
116.9
116.9
117.0
114.8
113.4
120.9
113.7
132.7
91.1
102.2
120.0 120.0
112.3 113.4
121.4
114.2
122.8
115.8
II
116.6 117.7 118.3 119.0 122.0
114.1 114.9
109.5
1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors to operate installations.
2. Includes depot maintenance and contractual services for weapons systems.
3. Includes compensation of foreign personnel, consulting, training, and education.
IV
1989
1988
1987
III
95
SURVEY OF CURRENT BUSINESS
July 1989
Table 7.18.—Current-Dollar Cost and Profit per Unit of Constant-Dollar Gross Domestic Product of Nonfinancial Corporate Business
[Dollars]
Seasonally adjusted
Line
1985
1986
1987
1988
1985
1986
1987
1988
1989
IV
Current-dollar cost and profit per unit of constant-dollar
gross domestic product '.
1.104
1.129
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
1.080
1.078
1.084
1.098
1.096
1.100
1.102
1.107
1.109
1.112
1.123
1.132
1.148
1.156
1
1.071
1.089
Capital consumption allowances with capital consumption adjustment . 2
3
.119
.123
.123
.123
.120
.120
.123
.124
.124
.125
.124
.123
.122
.122
.122
.122
.124
.125
.951
.966
.981
1.006
.960
.958
.961
.973
.971
.975
.978
.984
.987
.989
1.001
1.009
1.024
1.031
4
.103
.106
.106
.107
.104
.106
.104
.108
.106
.106
.106
.107
.106
.106
.107
.108
.108
.110
5
6
7
.848
.704
,106
.860
.721
.098
.875
.730
.098
.899
.744
.103
.856
.713
.106
.852
.712
.101
.857
.719
.098
.865
.726
.098
.865
.727
.096
.869
.731
.094
.871
.727
.098
.878
.726
.103
.881
.734
.098
.883
.732
.102
.894
.740
.103
.901
.746
.102
.916
.756
.105
.921
.768
.096
8
9
.033
.073
.035
.064
.041
.058
.044
.059
.033
.072
.033
.068
.033
.065
.034
.063
.038
.058
.038
.057
.041
.057
.044
.060
.041
.057
.041
.060
.044
.059
.044
.058
.045
.061
.045
.051
10
.038
.041
.047
.052
.037
.039
.040
.042
.042
.044
.046
.048
.050
.050
.051
.053
.055
.057
Net domestic product
Indirect business tax and nontax liability plus business transfer
payments less subsidies.
Domestic income
,
Compensation of employees
Corporate profits with inventory valuation and capital consumption
adjustments.
Profits tax liability
Profits after tax with inventory valuation and capital consumption
adjustments.
Net interest
,
1. Equals the deflator for gross domestic product of nonfinancial corporate business with the decimal point shifted two places to the left.
II
96
SURVEY OF CURRENT BUSINESS
July 1989
8. Supplementary Tables
Table 8.1.—Percent Change From Preceding Period in Selected Series
[Percent]
Seasonally adjusted at annual rates
Line
1985
1986
1987
1988
1986
1985
IV
I
II
IV
I
II
1989
1988
1987
III
III
IV
I
II
III
IV
I
II
Gross national product:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
1
2
3
4
5
6.4
3.4
3.0
3.3
3.4
5.4
2.7
2.6
2.5
2.7
6.9
3.7
3.2
3.4
3.6
7.9
4.4
3.3
3.7
4.2
6.2
3.0
3.3
3.2
3.3
7.3
6.6
.7
1.7
2.2
1.3
-1.8
2.9
1.7
2.1
5.7
.8
5.0
3.1
2.9
4.2
2.3
1.8
2.7
3.1
8.8
5.4
3.2
4.1
4.3
8.2
4.4
3.8
3.8
4.1
8.4
5.3
2.8
3.7
3.8
9.0
6.6
2.4
3.3
3.8
6.5
4.0
2.0
3.3
3.8
8.6
3.7
4.8
4.3
4.8
7.5
3.2
4.4
4.4
5.2
7.5
2.7
4.7
4.1
4.3
7.9
3.7
4.0
4.6
4.8
6.6
1.7
4.9
5.0
5.2
Personal consumption expenditures:
Current dollars '
1982 dollars '
Implicit price deflator
Chain price index
Fixed-weighted price index
6
7
8
9
10
8.2
4.7
3.2
3.5
3.5
6.4
3.9
2.4
2.7
2.7
7.6
2.8
4.8
4.7
4.7
7.4
3.4
3.9
4.1
4.3
6.0
1.9
4.0
4.2
4.3
5.1
4.1
1.1
1.6
1.6
4.0
3.6
.4
.6
.5
9.8
5.4
4.3
4.4
4.2
6.2
2.2
3.9
3.9
3.9
6.6
.1
6.4
6.1
6.1
10.7
4.8
5.6
5.7
5.8
9.2
4.7
4.4
4.4
4.4
3.6
-.7
4.4
4.3
4.5
8.7
6.2
2.3
2.6
2.6
7.4
2.5
4.7
5.0
5.1
7.5
3.3
3.9
4.3
4.6
7.6
3.0
4.6
4.8
4.9
7.1
2.0
4.8
4.7
4.8
6.9
1.1
5.7
5.9
6.4
11
12
13
14
15
10.9
9.9
1.0
1.1
1.0
9.1
8.3
.8
1.1
1.3
3.7
1.4
2.4
3.1
3.5
8.1 -13.7
6.2 -13.1
-.8
1.9
2.2
1.1
1.2
2.4
9.5
8.4
1.2
.8
1.0
12.9
12.4
.4
.8
1.1
37.7
32.6
3.9
2.9
3.4
-4.1 -18.3
-4.3 -19.9
.4
1.9
4.2
2.1
2.2
4.6
19.2
14.8
3.8
3.2
4.0
20.6 -12.8
15.8 -13.5
4.1
.7
2.3
3.8
2.4
4.4
22.3
21.0
1.1
1.0
.9
7.6
6.4
1.1
1.7
1.8
-1.8
-3.9
2.2
2.8
3.1
13.8
9.9
3.7
3.1
3.2
-.9
-1.1
0
2.1
2.0
3.4
4.4
-.7
0
.4
16
17
18
19
20
5.1
2.6
2.4
2.5
2.5
3.4
3.6
-.2
0
-.1
6.0
1.4
4.5
4.5
4.5
5.4
1.6
3.7
4.0
4.1
7.6
4.0
3.8
3.7
3.7
2.7
5.6
-2.9
-2.4
-2.4
-1.5
4.5
-5.8
-5.8
-5.8
2.6
-.3
3.0
3.5
3.2
4.6
2.0
2.6
2.4
2.4
10.6
1.9
8.4
7.9
8.0
7.5
.6
6.7
7.4
7.3
4.8
1.3
3.6
3.2
3.3
3.8
.5
3.2
3.7
3.8
2.7
1.7
1.1
1.3
1.3
8.1
1.2
6.8
7.1
6.9
9.5
5.0
4.2
4.6
5.0
4.7
.7
3.8
4.5
4.5
7.6
1.3
6.2
5.5
5.5
6.8
-4.0
11.5
11.5
12.1
21
22
23
24
25
9.6
4.7
4.7
4.8
4.8
7.7
2.7
4.8
5.0
5.0
9.8
4.2
5.4
5.3
5.1
8.5
3.8
4.6
4.7
4.8
11.0
5.4
5.6
5.6
5.4
5.5
1.7
3.7
4.6
4.6
5.4
.3
5.1
4.9
4.8
7.5
1.8
5.4
5.4
5.1
10.3
4.6
5.6
5.4
5.2
11.9
6.0
5.6
5.4
5.2
10.5
5.0
5.2
5.3
5.1
9.1
3.8
5.1
5.2
5.1
8.4
3.0
5.3
5.3
5.4
9.1
5.2
3.7
3.9
3.9
6.9
2.2
4.6
4.6
4.6
8.9
4.5
4.2
4.4
4.7
7.9
2.6
5.1
5.4
5.5
8.9
3.6
5.0
5.0
4.9
7.8
3.7
4.1
4.1
4.1
2.5
.4
6.1
5.4
7.2
6.2
18.7
20.8
19.4 -14.7
18.5 -18.5
.7
-6.2
15.8
21.8
6.7
6.6
5.2
9.5
9.2
6.9
4.4
-.2
Durable goods:
Current dollars
1982 dollars
Chain price index
Fixed-weighted price index
Nondurable goods:
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Services:
1982 dollars '
Implicit price deflator
Chain price index
Fixed-weighted price index
Gross private domestic investment:
26
27
28
29
30
1982 dollars
:
Chain once ndex
Fixed-weighted price index
Fixed investment:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
-3.3
-3.3
-5.7
-10.3
37.1 -10.7
-7.6
32.8
11.2
3.7
12.7 -9.2
11.8 -12.7
31
32
33
34
35
5.8
5.3
.4
1.3
1.8
3.3
1.0
2.3
2.2
2.3
2.8
2.6
.2
2.3
2.0
7.3
5.8
1.5
2.6
3.3
14.0
12.3
1.6
2.2
2.7
-2.3
-3.8
1.6
1.9
2.1
5.5
.6
4.8
3.4
3.0
1.5
-2.6
4.4
2.3
1.5
4.2
3.2
.8
2.7
1.9
-7.8
-4.8
-3.0
1.9
1.8
11.3
10.0
1.2
2.0
1.7
11.2
14.1
-2.3
3.3
2.8
1.8
-.2
2.0
2.1
2.4
7.4
5.0
2.3
3.9
5.1
12.2
12.0
0
1.9
3.1
4.2
2.4
1.9
1.4
2.1
4.3
-3.0
7.5
3.8
4.2
4.4
3.4
.8
4.1
5.0
1.9
1.3
.8
4.0
4.4
36
37
38
39
40
6.5
6.7
_2
19
1.7
-1.7
-3.3
1.6
2.0
2.3
2.1
3.9
-1.8
1.2
1.2
9.7
8.4
1.2
2.4
3.4
14.2 -10.2
12.9 -10.3
0
.8
1.5
1.9
2.6
1.9
-4.3
-8.5
4.6
3.7
3.2
-3.0
-6.9
4.5
1.9
1.1
4.3 -10.5
4.5 -4.3
-.4 -6.2
1.0
2.3
1.4
1.2
13.5
14.4
-.8
-.4
.3
19.1
26.7
-6.0
.3
.9
1.4
-.1
1.2
1.6
2.3
12.9
9.5
2.9
4.4
5.7
12.8
12.3
.4
2.8
4.0
5.1
2.6
2.5
1.9
2.7
2.1
-6.5
9.2
4.4
4.7
6.0
6.9
-.8
3.2
4.7
6.8
7.6
-.4
2.7
3.6
Fixed-weighted price index
41
42
43
44
45
8.6 -9.3
4.0 -13.0
4.4
4.3
1.2
2.8
2.7
.9
-3.7
-6.0
2.3
1.7
.2
4.9
-.1
5.0
4.5
5.2
19.2 -12.5 -29.7 -12.4
12.3 -14.8 -35.8 -14.4
9.5
2.7
6.0
2.3
2.1
-.4
-.7
3.1
1.6 -2.0
2.9 -1.0
.3 -12.3
-1.9 -10.3
2.2 -2.2
2.2
1.3
-.4
-.6
.3
-7.8
8.8
2.4
.3
26.4
29.3
-2.5
4.1
2.7
4.7 -5.1
.6 -11.8
7.8
4.5
8.2
2.6
3.3
9.5
8.4
2.3
5.8
3.4
5.5
6.1
1.6
4.3
4.2
5.5
1.4
-5.1
6.8
3.9
4.5
6.3
-1.0
7.7
4.8
5.3
-5.7
-9.9
4.8
4.8
4.4
Producers' durable equipment:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
46
47
48
49
50
5.4
8.0
-2.5
0
1.1
2.2
1.4
.8
2.5
3.2
4.8
8.1
-3.0
.9
1.8
11.7
11.5
.1
1.6
2.2
11.8
13.4
-1.3
1.3
2.5
-9.1
-8.2
-.8
2.6
3.8
11.6
7.1
3.9
4.5
4.2
1.5
-3.8
5.5
3.1
3.0
6.3
7.4
—8
2.6
-9.8
-2.0
-8.0
.6
2.2
19.6
24.1
-3.7
-1.6
.3
16.2
25.9
-7.5
-1.2
-.1
-.1
-.3
0
1.2
1.7
21.4
18.2
2.6
2.8
3.5
14.6
15.8
-.9
2.6
3.1
4.8
2.9
1.7
1.0
1.0
2.3
-6.9
10.3
4.6
4.8
6.0
9.6
-3.3
2.6
4.4
12.1
13.6
-1.3
1.9
3.1
51
52
53
54
55
4.3
2.0
2.2
2.2
2.2
15.1
12.2
2.6
2.5
2.4
4.2
-.5
4.6
4.7
4.5
2.7
-.4
3.0
3.1
3.1
13.5
10.4
3.0
2.8
2.7
18.3
14.8
3.0
2.8
2.8
29.0
25.4
2.9
2.8
2.4
10.9
7.5
2.9
3.0
3.0
3.8
.4
3.6
3.5
3.5
-2.3
-5.9
3.6
3.7
3.7
7.5 -3.0
1.0 -11.0
9.3
6i5
6.7
9.3
9.0
6.3
2.7
-.4
3.1
3.1
2.8
-2.8
-5.7
2.7
3.0
3.2
11.0
11.2
0
-.1
.3
1.9
1.9
.3
.3
.3
9.2
6.3
2.7
2.7
2.6
56
57
58
59
60
-3.3
-1.2
-2.1
-.9
-.6
6.9
8.1
-1.2
-.6
-.1
13.1
13.5
-.3
1.6
1.9
22.1
17.6
3.8
4.9
5.3
4.6
5.4
-.8
-.5
_2
31.7
30.8
.8
.3
1.2
-4.8
-3.3
-1.6
-.6
-.5
6.9
10.7
-3.5
-.7
-1.0
5.2
7.1
-1.6
.6
.7
14.8
12.6
2.0
2.3
3.0
21.6
21.4
0
2.7
3.3
20.2
21.4
-.8
2.3
3.0
23.3
21.3
1.6
2.6
2.6
36.5
30.5
4.5
5.8
6.3
8.6
1.8
6.9
6.7
7.0
19.5
9.7
8.9
9.0
9.9
17.5
15.5
1.5
2.0
2.4
19.1
14.0
4.6
1.5
1.6
13.6
11.3
2.3
2.5
2.7
61
62
63
64
65
1.5
3.4
-2.0
-2.0
-1.8
10.0
11.8
-1.6
.3
-2.1
13.6
7.5
5.7
7.1
7.7
10.7
6.8
3.7
5.3
5.0
25.6
20.2
4.7
6.2
6.4
9.0
.6
8.6 14.9
.4 -12.7
-.7 -6.7
-3.6 -13.3
12.6
17.3
-3.8
2.9
1.8
11.1
0
11.3
7.5
8.0
9.1
-3.6
12.9
11.8
13.8
24.4
14.5
8.9
9.3
10.8
16.6
19.1
-2.4
4.9
6.2
17.7
9.8
7.5
5.8
5.5
4.8
1.1
3.6
5.8
4.6
2.1
-2.2
4.4
6.3
6.4
10.6
10.2
.4
.5
.3
18.9
12.6
5.2
5.0
4.2
5.7
-.4
6.3
7.2
8.6
11.3
8.7
2.3
5.1
6.3
66
67
68
69
70
11.5
7.9
3.4
3.8
3.6
6.3
4.2
2.0
2.0
2.1
6.2
2.7
3.5
3.1
3.6
4.6
.4
4.1
3.7
4.6
8.1
1.6
6.2
4.1
3.9
5.2
2.1
3.2
1.4
1.2
4.0
5.8
-2.1
2.5
4.3
8.3
.3
8.3
4.7
4.6
4.4
-.9
5.2
2.6
3.7
7.3
4.5
2.7
3.3
4.1
6.3
4.5
1.7
2.7
3.8
-.8
-8.3
8.3
5.1
5.9
6.2
4.1
2.0
3.7
4.4
-.6
-3.6
3.0
1.9
4.7
23.9
16.7
6.3
3.8
3.5
1.8
-3.3
5.5
8.0
8.0
6.2
4.0
1.9
4.2
3.5
71
72
73
74
75
14.4
12.1
2.1
2.6
2.2
3.2
2.5
.6
.4
.2
4.1
1.6
2.5
1.5
2.5
-.1
-3.2
3.1
2.3
4.1
3.2
5.2
-1.7
2.1
3.8
-9.8
-9.5
-.3
-2.2
4.4
49.5
33.7
12.0
3.1
2.1
-7.1
-9.4
2.4
10.2
10.4
5.0
7.1
-1.7
2.9
1.2
76
77
78
79
80
10.6
8.6
1.9
2.3
2.7
7.2
6.3
.9
.9
.5
6.1
5.2
.8
1.2
2.5
1.1
-1.4
2.6
2.2
3.6
.8
-.8
1.4
2.8
3.8
-2.5
-5.5
3.2
2.1
2.0
6.1 -2.4
4.4 -10.6
1.8
9.0
9.6
2.8
2.5 10.4
5.0
2.7
2.4
2.5
1.5
Nonresidential:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Structures:
Current dollars
1982 dollars
Implicit price deflator
Residential:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Exports of goods and services:
Current dollars '
1982 dollars '
Implicit price deflator
,
Fixed-weighted price index
Imports of goods and services:
Current dollars '
1982 dollars1
Implicit price deflator
Chain price index
Fixed-weighted price index
~»
Government purchases of goods and services:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Federal:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index . ...
National defense:
Current dollars.
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
in
-3.0
-4.5
1.8
1.2
1.6
9.2
9.5
-.3
.7
.6
9.2 -17.9
-.4 -17.7
-.4
9.6
-.7
4.2
3.6
-.3
11.9
14.3
-2.2
-.7
-1.4
1.3 -1.2
10.2
-1.4
2.9 -10.4
-.8 -1.1
-1.8
2.6
7.6
-4.9
13.2
5.3
5.0
2.8
-4.0
7.0
.7
3.2
6.8
7.4
-.7
.5
2.2
3.8 -13.7
5.0 -22.3
-1.1
11.1
4.8
.8
3.2
6.6
-2.7
-.3
-2.5
-1.2
_2
16.4
18.0
-1.4
-1.2
-2.0
14.3
14.4
0
0
-1.2
10.8
5.1
5.6
5.1
4.2
8.6
8.9
-.4
-.1
2.9
8.7
9.4
-7
.5
1.9
-4.5
-5.6
1.5
1.2
3.0
4.9
-4.2
9.5
7.5
4.6
-7.9
-6.3
-1.8
-1.7
4.0
.8
-5.4
6.6
4.1
6.0
.7 -7.8
-5.0 -13.6
5.8
6.7
7.0
5.9
5.8
6.9
97
SURVEY OF CURRENT BUSINESS
July 1989
Table 8.1.—Percent Change From Preceding Period in Selected Series—Continued
[Percent]
Seasonally adjusted at annua rates
Line
1985
1986
1987
1988
IV
Nondefense:
I
II
1987
III
IV
I
II
1989
1988
III
IV
I
II
13.1
.5 37.6 -50.2
0
54.9 -63.5 33.9
1.0 -11.1
36.3 -15.5
7.2
-.8
-.6
.5
8.0
3.8
3.0
3.5
III
IV
I
II
4.5
-33.6 383.9 -19.2
21.2
-24.3 231.3 -5.7
-12.3
45.9 -14.4 -14.1
4.1
4.2 11.8
-16.7
.4
10.6
1.2 10.4
.
Fixed-weighted price index
26.0
22,8
2.6
3.6
1.0
-7.6
-7.7
-.1
-.9
-.6
-2.1
-9.3
8.0
2.4
2.4
-4.0
-9.4
5.9
2.4
5.4
9.5
4.7
4.5
4.7
4.7
8.6
5.5
3.0
3.2
3.4
7.7
3.4
4.1
4.2
4.3
7.9
3.2
4.5
4.7
4.9
7.2
3.2
3.9
4.0
4.1
10.1
7.5
2.4
2.6
3.0
7.4
5.9
1.4
1.7
2.1
8.1
5.0
2.7
3.2
3.3
7.8
2.5
5.5
5.2
5.5
9.0
4.6
4.1
4.3
4.3
5.5
1.5
4.0
4.0
4.0
7.7
2.5
5.0
5.3
5.3
8.0
4,0
3.9
4.0
4.2
9.0
3.7
5.2
5.3
5.5
8.2
3.4
4.5
4.9
4.9
5.6
.9
4.8
4.7
4.8
9.7
5.7
3.8
4.2
4.4
8.2
1.5
6.6
6.6
6.4
7.0
1.8
4.9
5.1
5.1
91
92
93
.
81
82
83
84
85
86
87
88
89
90
1982 dollars
Implicit price deflator
State and local:
Current dollars
1982 dollars
1986
1985
3.8
3.1
3.3
3.3
2.5
2.6
3.2
4.0
4.1
3.3
3.8
4.2
4.8
3.9
4.0
4.7
1.5
1.8
.5
1.0
.9
2.0
3.4
3.3
1.5
3.4
3.7
3.4
5.2
5.2
4.0
4.5
4.8
5.4
4.0
4.1
5.5
3.6
4.1
.7
3.3
3.6
3.0
4.3
4.7
3.4
3.5
4.3
2.5
4.5
4.5
1.8
5.2
5.5
1.4
5.3
5.6
94
95
96
5.0
3.4
3.4
2.8
2.5
2.7
3.2
3.5
3.6
4.3
3.7
4.2
1.6
3.3
3.3
2.7
1.7
2.1
2.0
1.8
2.1
2.3
3.1
2.9
3.9
2.7
3.0
1.1
4.1
4.2
4.9
3.8
4.1
6.0
3.7
3.8
1.4
3.3
3.8
6.5
3.3
3.8
5.0
4.3
4.8
1.6
4.3
5.2
4.7
4.1
4.3
3.1
4.6
4.8
1.9
5.0
5.2
97
98
99
5.4
3.2
3.3
3.5 • 2.7
4.0
2.5
4.1
2.5
3.2
3.8
4.2
3.5
3.9
4.0
1.0
1.6
1.7
4.2
1.0
.9
3.4
3.4
3.2
3.1
3.4
3.7
-.7
5.2
5.2
4.5
4.5
4.8
6.1
4.0
4.1
.4
3.6
4.1
3.0
3.3
3.6
4.4
4.3
4.7
1.8
3.4
4.3
4.5
4.4
4.5
1.2
5.3
5.5
1.7
5.3
5.5
100
101
3.3
3.1
2.8
2.4
3.0
3.8
4.5
3.3
2.4
3.7
6.7
.7
-.5
1.8
1.0
4.7
.9
3.2
4.2
4.3
3.4
4.6
5.4
2.8
6.0
3.1
4.1
4.0
4.8
4.3
3.0
2.2
5.0
3.5
4.3
1.6
4.9
102
103
3.6
3.1
2.9
2.5
3.8
3.2
4.4
3.3
2.7
3.3
6.8
.7
-1.0
2.9
.6
5.0
2.9
1.8
5.2
3.2
4.7
3.8
5.2
2.8
6.5
2.4
3.7
2.4
4.3
4.8
3.1
4.0
2.5
4.7
3.8
4.0
1.6
4.9
104
105
3.8
2.7
3.1
2.4
4.1
2.8
4.6
3.1
2.8
2.9
7.6
.4
-1.5
2.9
.4
4.7
3.1
1.4
5.9
2.5
5.0
3.5
5.6
2.8
7.1
1.7
3.7
1.7
4.5
4.9
3.0
4.5
2.5
4.8
3.9
3.3
1.5
4.7
106
107
3.8
3.3
2.9
2.5
4.3
2.7
5.2
2.8
3.4
2.2
6.4
.7
-1.5
2.9
.8
5.1
3.7
1.1
5.1
2.8
5.9
2.8
6.4
3.1
6.6
2.1
4.7
1.0
4.2
4.1
4.4
3.4
4.6
5.8
2.4
3.0
1.8
4.7
108
109
6.4
3.0
6.2
3.6
6.4
1.6
8.5
4.4
8.6
4.4
8.5
7.4
6.5
6.2
2.4
-1.7
5.3
1.4
10.8
4.0
-.6
-5.8
11.3
6.7
12.4
7.8
7.0
4.6
7.2
2.4
9.1
4.9
8.9
4.3
11.9
6.6
6.1
.4
21.3 -48.0
9.8 -50.3
9.7
4.9
.7
-3.9
-.6
1.2
-.4 -31.3
24.5 -2.7 -14.3
3.9 -39.4
85.5 -30.4 -38.3
40.4 38.1
13.9 -33.2
-4.3
3.4
6.0
.8 -3.3
.6
7.1
3.9
-.1 -3.5
-1.0
Addenda:
Gross domestic purchases:
1982 dollars
Final sales:
1982 dollars
Chain price index
.
Final sales to domestic purchasers:
1982 dollars
Command-basis gross national product:
198? dollars
Implicit price deflator . ..
Gross domestic product:
1982 dollars
Business:
1982 dollars
Nonfarm:
1982 dollars
Disposable personal income:
Current dollars
.
1982 dollars
.
f
1. Percent changes for 1986 and for the first quarter of 1986 reflect discontinuities in the series.
See the box on page 21 of the July 1989 SURVEY OF CURRENT BUSINESS.
NOTE.—The fixed-weighted price index and the chain price index, both of which are weighted averages of the detailed prices used in the deflation of GNP, are measures of price change. In calculating changes in these
indexes, the composition of GNP is held constant. Consequently these changes reflect only changes in prices. The fixed-weighted price index measures price change over any period, using as weights the composition of GNP
in 1982. The chain price index measures price change between two consecutive periods, using as weights the composition of GNP in the first period.
The implicit price deflator is a byproduct of the deflation of GNP. It is derived as the ratio of current- to constant-dollar GNP (multiplied by 100). It it the average of the detailed prices used in the deflation of GNP, but
the prices are weighted by the composition of GNP in each period. Consequently, the implicit price deflator reflects not only changes in prices but also changes in the composition of GNP, and its use as a measure of price
change should be avoided.
98
SURVEY OF CURRENT BUSINESS
July 1989
Table 8.2.—Selected Per Capita Income and Product Series in Current and Constant Dollars and Population of the United States
Current dollars
Year
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944 ..
1945
1946
1947
1948
1949
1950
1951
1952 .. .
1953
1954
1955
1956
1957
1958
1959
I960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
Gross
national
product
853
740
615
468
446
518
572
648
708
657
697
760
941
1,179
1,409
1,527
1,525
1,502
1,632
1,784
1,745
1,900
2,161
2,240
2,329
2,294
2,456
2,546
2,633
2,623
2,800
2,851
2,905
3,080
3,206
3,386
3,628
3,927
4,108
4,447
4,755
4,951
5,309
5,777
6,414
6,886
7,401
8,175
9,036
10,105
11,142
11,995
13,262
13,614
14,503
15,913
16,776
17,511
18,543
19,810
Personal
income
692
613
521
395
368
420
469
531
569
520
550
587
714
907
1,102
1,188
1,215
1,256
1,319
1,427
1,384
1,504
1,663
1,745
1,821
1,805
1,901
2,004
2,080
2,108
2,207
2,265
2,318
2,429
2,516
2,659
2,840
3,056
3,243
3,523
3,813
4,056
4,305
4,676
5,198
5,657
6,081
6,655
7,297
8,141
9,036
9,916
10,952
1 1,485
12,088
13,114
13,895
14,592
15,483
16,497
Disposable
personal
income
671
593
506
384
357
408
455
513
547
499
532
568
689
863
972
1,052
1,066
1,124
1,171
1,283
1,260
1,368
1,475
1,528
1,599
1,604
1,687
1,769
1,833
1,865
1,946
1,986
2,034
2,123
2,197
2,352
2,505
2,675
2,828
3,037
3,239
3,489
3,740
4,000
4,481
4,855
5,291
5,744
6,262
6,968
7,682
8,421
9,243
9,724
10,340
11,257
11,861
12,469
13,140
14,116
Constant (1982) dollars
Personal consumption expenditures
Total
634
568
487
389
365
406
438
484
517
493
511
538
606
657
727
782
855
1,018
1,123
1,193
1,195
1,267
1,349
1,396
1,458
1,477
1,560
1,608
1,666
1,692
1,786
1,829
1,857
1,940
2,017
2,133
2,268
2,428
2,534
2,752
2,949
3,121
3,330
3,609
3,950
4,285
4,689
5,178
5,707
6,304
6,960
7,607
8,320
8,818
9,516
10,253
10,985
11,576
12,340
13,131
Durable
goods
76
58
44
29
28
33
40
49
54
44
51
59
72
51
48
48
57
111
142
156
168
203
194
186
205
198
235
227
232
214
242
240
228
252
273
296
327
348
355
404
425
418
470
530
588
579
627
740
838
923
973
963
1,042
1,086
1,231
1,416
1,555
1,680
1,726
1,848
Nondurable
goods
309
276
233
182
177
211
230
256
273
261
268
280
321
376
429
465
514
585
631
659
636
648
708
731
738
737
755
111
800
814
839
847
857
878
895
936
987
1,060
1,091
1,171
1,244
1,318
1,364
1,453
1,602
1,781
1,927
2,072
2,226
2,434
2,724
2,992
3,217
3,315
3,478
3,659
3,807
3,898
4,091
4,271
Services
249
233
210
178
160
162
168
178
190
188
192
199
212
230
251
269
284
321
351
378
392
416
447
478
515
542
570
604
634
664
706
741
111
810
848
900
954
1,019
1,087
1,178
1,280
1,385
1,496
1,626
1,760
1,926
2,135
2,366
2,643
2,947
3,263
3,653
4,061
4,416
4,807
5,179
5,622
5,998
6,524
7,012
Gross
national
product
5,822
5,218
4,737
4,075
3,966
4,243
4,555
5,166
5,391
5,111
5,469
5,850
6,817
8,010
9,333
9,975
9,682
7,758
7,401
7,561
7,434
7,935
8,609
8,792
8,995
8,721
9,045
9,069
9,056
8,839
9,200
9,213
9,299
9,644
9,896
10,281
10,741
11,233
11,428
11,784
11,953
11,781
11,964
12,426
12,948
12,760
12,478
12,961
13,431
13,993
14,182
13,994
14,114
13,614
13,964
14,771
15,121
15,385
15,795
16,334
Disposable
personal
income
4,091
3,727
3,534
3,043
2,950
3,100
3,359
3,738
3,836
3,557
3,812
4,017
4,528
5,138
5,276
5,414
5,285
5,115
4,820
5,000
4,915
5,220
5,308
5,379
5,515
5,505
5,714
5,881
5,909
5,908
6,027
6,036
6,113
6,271
6,378
6,727
7,027
7,280
7,513
7,728
7,891
8,134
8,322
8,562
9,042
8,867
8,944
9,175
9,381
9,735
9,829
9,722
9,769
9,725
9,930
10,419
10,625
10,905
10,970
11,337
Population
(mid-year,
millions)
Personal consumption expenditures
Total
3,868
3,569
3,400
3,081
3,013
3,088
3,236
3,523
3,628
3,517
3,667
3,804
3,981
3,912
3,949
4,026
4,236
4,632
4,625
4,650
4,661
4,834
4,853
4,915
5,029
5,066
5,287
5,349
5,370
5,357
5,531
5,561
5,579
5,729
5,855
6,099
6,362
6,607
6,730
7,003
7,185
7,275
7,409
7,726
7,972
7,826
7,926
8,272
8,551
8,808
8,904
8,783
8,794
8,818
9,139
9,489
9,840
10,123
10,303
10,546
Durable
goods
330
259
221
168
164
185
227
280
292
234
273
307
346
232
205
190
205
338
392
421
454
532
484
465
502
502
586
552
539
499
547
542
509
552
591
630
693
734
736
805
828
792
859
955
1,040
958
952
1,065
1,153
1,201
1,184
1,080
1,089
1,086
1,206
1,363
1,484
1,591
1,597
1,679
Nondurable
goods
1,735
1,648
1,624
1,497
1,447
1,521
1,582
1,750
1,805
1,811
1,893
1,963
2,066
2,070
2,082
2,153
2,312
2,435
2,341
2,310
2,295
2,326
2,352
2,399
2,433
2,425
2,500
2,538
2,538
2,526
2,574
2,563
2,559
2,595
2,611
2,696
2,795
2,896
2,914
3,001
3,044
3,084
3,083
3,170
3,223
3,114
3,132
3,250
3,320
3,385
3,406
3,348
3,321
3,315
3,408
3,484
3,541
3,634
3,649
3,671
Services
1,803
1,662
1,555
1,416
1,402
1,381
1,427
1,493
1,530
1,472
1,501
1,534
1,569
1,611
1,661
1,683
1,719
1,860
1,892
1,919
1,912
1,976
2,016
2,051
2,094
2,140
2,200
2,259
2,292
2,332
2,409
2,456
2,511
2,582
2,653
2,773
2,874
2,977
3,081
3,197
3,313
3,399
3,468
3,601
3,709
3,754
3,842
3,956
4,079
4,222
4,314
4,355
4,384
4,416
4,526
4,642
4,815
4,899
5,057
5,196
121.9
123.2
124.1
124.9
125.7
126.5
127.4
128.2
129.0
130.0
131.0
132.1
133.4
134.9
136.7
138.4
139.9
141.4
144.1
146.6
149.2
151.7
154.3
157.0
159.6
162.4
165.3
168.2
171.3
174.1
177.1
180.8
183.7
186.6
189.3
191.9
194.3
196.6
198.8
200.7
202.7
205.1
207.7
209.9
211.9
213.9
216.0
218.1
220.3
222.6
225.1
227.8
230.2
232.5
234.8
237.1
239.3
241.7
244.0
246.4
99
SURVEY OF CURRENT BUSINESS
July 1989
Table 8.5.—-Supplements to Wages and Salaries by Type
Table 8.3.—Capital Consumption Allowances with Capital Consumption
Adjustment by Legal Form of Organization
[Billions of dollars]
[Billions of dollars]
Line
1986
1987
1
437.2
460.1
486.7
513.6
Domestic corporate business
Financial
Nonfinancial
3
4
268.6
16.0
252.6
285.9
18.5
267.4
303.1
21.4
281.7
321.7
24.6
297.1
Sole proprietorships and partnerships
Farm
Nonfarm
5
6
7
69.7
20.4
73.5
19.3
75.2
18.7
493
71.5
19.9
51 6
542
565
Other private business
Proprietors' income
Rental income of persons
....
Buildings and equipment owned and used by nonprofit
institutions serving individuals l.
g
9
10
98.9
102.7
110.1
116.7
25
25
83.0
13.3
86.1
14.1
24
927
24
984
15.0
15.9
11
Addenda:
Nonfarm business
Nonfarm business less housing
12
13
415.2
3223
438.6
3420
465.8
361 5
493.3
3825
1. Fixed capital assets owned and used by these entities are considered to be business activities selling
their current services to their owners. The value of these services is included in personal consumption
expenditures and is equal to their current-account purchases including capital consumption allowances with
capital consumption adjustment.
Table 8.4.—Capital Consumption Adjustment by Legal Form of Organization
and Type of Adjustment
[Billions of dollars]
Line
Capital consumption adjustment '
For consistent accounting at historical cost
For current replacement cost
1986
1987
1988
1
392.4
416.6
440.7
478.6
Employer contributions for social insurance (3.6;2) '
Other labor income (6 13; 1)
2
3
204.8
1876
217.3
1993
227.8
2128
249.7
2289
4
5
6
7
g
9
10
11
12
13
14
15
205.5
91 5
213.9
98 1
220.6
1039
237.9
1188
23
24
25
128
184
27
138
195
100.8
Life insurance
Veterans life insurance (3 6' 16)
Private group life insurance (6.13;24)2
16
17
18
87
0
8.7
Workers' compensation
Federal (3.6; 17)
State and local (3 6;22)
Private insurance2 (6 13*25)
19
20
21
22
Unemployment insurance
State unemployment insurance (3 6;8)
Federal unemployment tax (3.6;9)
Railroad employees unemployment insurance (3.6; 10)
Federal employees unemployment insurance (3.6; 11)
Private supplemental unemployment (6.13;26)
Other (6.13;27) 3
1988
2
Capital consumption allowances with capital
consumption adjustment.
1985
1985
Supplements to wages and salaries
Line
1
2
3
4
5
6
7
g
9
10
1985
31.0
1986
31.4
1987
20.4
1988
12.8
1808
1796 1716 166.6
-149.8 -148.2 -151.3 -153.8
59.7
1342
-745
53.8
1270
-732
509
468
1239
-73 1
1206
-738
30
44
-14
567
3.0
40
-10
509
46
54
-8
463
129.8
-73.1
123.1
-72.2
118.6
-72.2
Sole proprietorships and partnerships
Farm '
Nonfarm
For consistent accounting at historical cost..
For current replacement cost
13
14
15
16
17
23.5
-8.7
29.9
-8.4
25.0
-8.0
23.7
• -7.5
Other private business '
Proprietors' income
Rental income of persons
Buildings and equipment owned 2 used by nonprofit
and
institutions serving individuals .
18
19
20
21
322
383
46.6
-145
52.5
-143
331
477
312
461
-146
-149
-52.2
-52.3
-55.5
-57.6
-.9
-.9
-.9
-.9
-450
-6.3
-450
-6.5
-479
-6.8
-498
-6.9
Capital consumption adjustment for national income
(4+13+19+20).
37.3
37.9
27.1
19.8
1. Except for farm proprietorships and partnerships (line 14) and other private business (line 18), the
capital consumption adjustment is calculated in two parts. The adjustment for consistent accounting at
historical cost converts depreciation based on the service lives and depreciation schedules employed by firms
when filing their income tax returns to consistent service lives and straight-line depreciation schedules. The
adjustment for current replacement cost converts the historical cost series with consistent accounting to a
current replacement cost series. For farm proprietorships and partnerships and other private business, the
historical cost series is based on consistent service lives and straight-line depreciation schedules so that the
adjustment reflects only a conversion to current replacement cost.
2. Fixed capital assets owned and used by these entities are considered to be business activities selling
their current services to their owners. The value of these services is included in personal consumption
expenditures and is equal to their current-account purchases including capital consumption allowances with
capital consumption adjustment.
30 1
535
31 5
51 6
500
1245
1360
1490
1640
111
1
297
12
2
109.0
120.1
1328
94
0
9.4
95
0
9.5
100
245
289
335
37
196
44
23 3
50
273
382
13
57
23
24
25
26
260
195
5.5
.2
248
182
5.6
.2
24 1
17 8
5.4
.2
243
180
5.2
.2
27
28
.3
5
.3
4
.3
5
.3
6
3.3
3.6
3.9
43
227
g
1
260
9
1
11
1i
11
12
33 1
o
10.0
31 2
[Billions of dollars]
Line
Rental income of persons
1986
1987
1988
1
54.2
56.5
61.2
43.0
48.4
55.2
654
606
3
Owner-occupied
Permanent site . .
Mobile homes
....
28.3
35.2
41.6
454
4
5
6
7
Nonfarm housing
Nonfarm nonresidential properties
1985
2
..
Rental income
Farms owned by nonoperator landlords..
22
...
28 1
546
Table 8.6.—Rental Income of Persons by Type
Royalties
.
Tenant-occupied (permanent site)
Addendum:
11.8
179
1. The numbers in parentheses indicate the tables and line numbers from which the entries in this table are
derived.
2. Employer contributions to publicly administered programs are classified as employer contributions for
social insurance. Employer contributions to privately administered programs are classified as other labor
income. Consequently, government contributions to privately administered health and life insurance and
worker's compensation plans for government employees are classified as other labor income.
3. Consists largely of directors' fees.
114.1
-73.2
Domestic corporate business
For consistent accounting at historical cost
For current replacement cost
Financial.
For consistent accounting at historical cost
For current replacement cost
Nonfinancial
For consistent accounting at historical cost
For current replacement cost
11.4
176
29
Health insurance . .
Federal hospital insurance (3 6*6)
Military medical insurance (3 6*18)
Temporary disability insurance (3 6;21)
Private group health insurance (6.13;23)2
59
65
-6
409
11
12
By Type
Pension, profit-sharing, and other retirement benefit plans
Old-age survivors and disability insurance (3 6;5)
Railroad retirement (3 6; 15)
Federal civilian employee retirement (3.6; 13)
Federal military employee retirement (3 6*14)
State and local employee retirement (3 6*20)
Private pension and profit-sharing (6 13*21)
13.2
13.3
17.4
16.9
22.2
21.1
22.8
.5
1.1
15 1
178
194
212
1.6
226
8
9
62
52
54
62
85
80
82
90
10
11.2
8.1
60
48
0
July 1989
SURVEY OF CURRENT BUSINESS
100
Table 8.8.—Interest Paid and Received
Table 8.7.—Dividends Paid and Received
[Billions of dollars]
[Billions of dollars]
Line
1985
1986
1987
1988
Dividends paid
1
144.4
154.9
161.0
187.9
Monetary interest paid
1
Domestic corporate business '
2
1254
1299
137 1
1525
3
4
21.3
104.1
22.8
107.1
25.0
112.1
27.5
125.0
Business
Corporate business
Financial
On deposits '
On other liabilities
Nonfinancial
Sole proprietorships and partnerships
2
3
4
5
6
7
8
9
10
11
12
13
5
.
Domestic corporate business 2
Financial
Nonfinancial
.
Rest of the world *
Persons
19.0
25.0
23.9
35.4
144.4
154.9
161.0
187.9
7
54.3
56.2
54.2
68.4
g
9
22.4
32.0
23.6
32.6
23.5
30.7
26.4
42.0
10
6.8
7.4
8.1
9.1
4.5
5.5
6.7
8.3
12
Dividends received
6
11
Rest of the world 2
78.7
85.8
92.0
13
14
15
83.3
71.1
12.2
91.3
73.7
17.6
P
16
787
85.8
1.
paid
2.
paid
t
1986
1987
1988
1,200 3 1,2357 1,306 1 1,451 4
8725
6162
3886
1992
1894
2276
770
152
61 8
1794
1753
4i
8943
6199
3796
1873
192 3
2403
845
136
708
1900
I860
40
9519 1,0641
6650 762 1
3945 451 1
1800
1998
2145 251 3
2705 311 0
843
853
125
123
71 7
730
2026 2167
198 8 212 8
39
39
14
82.6
89.1
91.4
961
102.2
Government
Federal
State and local
15
16
17
1942
1520
42.2
2061
1582
479
2160
1623
538
2337
1738
599
98.7
82.8
15.8
110.4
84.2
26.3
Foreigners
To business ..
To Federal Government
18
19
20
51 0
457
53
462
40 1
60
468
41 8
50
575
51 1
64
21
1,200.3 1,235.7 1^06.1 1,451.4
92.0
102.2
Business
Corporate business
Financial
Nonfinancial
Financial sole proprietorships and partnerships 2
Other private business
.
.
.
22
23
24
25
26
27
7465
7374
6160
- 1214
8.9
2
771 2
761 7
6364
1253
9.4
2
821 5
8104
6746
1358
10.9
2
9068
8947
7383
1564
11.9
2
Persons2
28
3049
303 1
3056
338 1
Government
Federal
State and local
29
30
31
91.4
21 3
700
99.5
22 1
774
106.1
200
861
1167
21 9
948
Foreigners
From business
From Federal Government
32
33
34
575
362
213
619
393
226
729
488
241
899
608
291
Monetary interest received
Remitted earnings to foreign residents from their unincorporated U.S. affiliates are treated as dividends
by domestic corporate business (line 2) and as dividends received by the rest of the world (line 10).
Earnings of U.S. residents remitted by their unincorporated foreign affiliates are treated as dividends
by the rest of the world (line 5) and as dividends received by domestic corporate business (line 7).
Nonfarm ..
Other private business .
Real estate
Other .
1985
Persons (interest paid by consumers to business)
Addenda:
Dividends in national income (1-7-10)
Dividends paid by domestic corporate business (net) (2 less 7)
Dividends paid to United States by rest of the world (net) (5
less 10).
Line
Imputed interest paid
35
Imputed interest received
2188
2387
2686
2863
36
37
38
2188
106.0
112.8
238 7
119.7
119.0
2686
139.5
129.1
2863
144.3
141.9
39
Corporate business (financial)
Banks, credit agencies, and investment companies
,
Life insurance carriers and private noninsured pension plans
218.8
238.7
268.6
286.3
40
41
42
43
44
45
46
47
354
30.4
54
25 1
4.8
15
34
2
375
32.6
60
266
4.7
14
33
2
386
33.8
61
211
4.6
13
34
2
403
35.1
63
288
5.1
14
37
2
. 48
49
50
1730
60.2
112.8
1901
71.2
119.0
2176
88.5
129.1
2331
91.1
141.9
Government
Federal
State and local
51
52
53
5.1
.5
46
5.4
.5
48
5.8
.6
52
5.9
.6
53
Foreigners
54
5.3
5.6
6.6
7.0
55
56
57
58
59
60
61
319.0
3094
95
172.9
965
82.6
478.0
325.5
3243
13
183.5
104.9
89.1
493.2
351.7
3603
-86
192.0
111.9
91.4
523.2
392.9
4032
-103
204.7
1226
96.1
571.1
Business
.
. .
Corporate business
Financial
Nonfinancial
Sole proprietorships and partnerships
Farm
Nonfarm
Other private business
.
. . . .
...
Persons
.
.
. . .
From banks, credit agencies, and investment companies
From life insurance carriers and private noninsured pension
plans.
Addenda:
Net interest (56+57)
Domestic business (2+36-22-40)
Rest of the world (18-33-54)
Interest paid by government to persons and business (15-34)
Interest received by government (29+51)
Interest paid by consumers to business (14)
Personal interest income (55+58-59+60) or (28+48)
1. Consists of interest paid on the deposit liabilities of commercial and mutual saving banks, savings and
loan associations, and credit unions.
2. Interest received by nonfinancial sole proprietorships and partnerships is considered interest received by
persons and is included in line 28.
NOTE.—In table 8.8, imputed interest paid (line 35) is the difference between the property income received
by financial intermediaries from the investment of depositors' or beneficiaries' funds and the interest paid by
them to business, persons, governments, and foreigners. In table 8.9, imputed interest (line 52)—the interest
component of imputations that affect GNP—consists of the imputed interest paid by financial intermediaries
other than life insurance carriers and private noninsured pension plans to persons and government, and the
interest paid on owner-occupied housing and on buildings and equipment owned and used by nonprofit
institutions serving individuals.
101
SURVEY OF CURRENT BUSINESS
July 1989
Table 8.9.—Imputations in the National Income and Product Accounts
[Billions of dollars]
Line
I
Excluding imputations (1-2)
1986
1985
1987
1986
1987
1988
486.6
-494
536 1
512.9
-527
5656
571.7
-55 8
6274
586.6
-602
646 8
Personal tax and nontax payments
Imputations (-88-96-101)
Excluding imputations (69—70)
69
70
71
Disposable personal income
Imputations
(88+91+96+98+101+103+108+109+1 10+1 1 1+1 19-89).
Excluding imputations (72—73)
72
73
2 838 7 3 013 3 3 205 9
104.8
123.9
147.7
74
3
3,656.3 3,841.3 4,092.3 4,422.0
4
5
6
7
8
2,629.0 2,797.4 3,010.8 3,235.1
174.7
174.2 205.8 217.2
102.4
100.0
87.9
110.2
86.4
103.4
74.7
107.0
2,454.3 2,623.2 2,805.0 3,017,9
Gross private domestic investment
Imputations (118+119+120)
Excluding imputations (9-10)
9
10
11
643.1
159.4
483.7
659.4
190.8
468.6
699.9
199.7
500.2
750.3
213.6
536.7
Net exports of goods and services
Imputations (16-19)
Excluding imputations (12—13)
12
13
14
-78.0
0
-780
-97.4 -112.6
0
0
-974 -1126
-73.7
0
-737
Exports
Imputations (105)
Excluding imputations (15—16)
15
16
17
370.9
53
365.7
396.5
56
390.9
448.6
66
442.1
547.7
70
540.7
Imports
Imputations (105) .
Excluding imputations (18—19)
18
19
20
4489
5.3
443.6
493.8
5.6
488.2
561.2
6.6
554.6
6213
7.0
6144
21
22
23
820.8
245
796.2
872.2
253
846.9
926.1
264
899.7
968.9
279
941.1
Government purchases of goods and services
Imputations (104+1 12+1 13+1 14+1 17)
Excluding imputations (21—22)
1985
4 014 9 4 231 6 4,5243 48806
Personal consumption expenditures
Imputations (6+7)
Housing services (86+94-1 18)
Other (99+103+108+109+1 10+1 1 1-120)
Excluding imputations (4—5)
.
Line
1988
Charges against gross national product
Imputations (86+94+99+103+104+108+109+1 10+1 1 1+
112+113+114+117+119).
Excluding imputations (24—25)
24
25
4,019.6 4,233.4 4,529.0 4,890.2
358.6 390.3 , 432.0 458.7
26
3,661 0 3,843.1 4,097.1 4,431 6
Capital consumption allowances with capital consumption
adjustment.
Imputations (87+95+100)
Excluding imputations (27—28)
27
437.2
460.1
486.7
513.6
28
29
80.4
3569
83.4
3767
89.8
396.9
95.5
418 1
Indirect business tax and nontax liability
Imputations (88+96+101)
Excluding imputations (30—31)
30
31
32
333.6
494
2842
348.9
527
2962
367.8
558
3120
393.5
602
3333
Subsidies less current surplus of government enterprises
Imputations (89)
Excluding imputations (33—34)
33
34
35
7.2
.3
69
12.8
.2
127
17.6
.2
174
18.5
.2
183
National income
Imputations (90+91+97+98+102+103+104+108+109+
110+111+112+113+114+117+119).
Excluding imputations (36—37)
.
36
37
3,234.0 3,412.6 3,665.4 3,972.6
229.1 254.3 286.6 303.2
38
3,0049 3,158.3 3,378.8 3,669 4
Wages and salaries
Imputations (109+1 10+11 1)
Excluding imputations (39-40)
39
40
41
1,975.2 2,094.8 2,249.4 2,429.0
8.9
9.5
10.1
10.8
1,966.3 2,085.3 2,239.3 2,418.3
Employer contributions for social insurance
Imputations (112+113+114+117)
Excluding imputations (42—43)
42
43
44
204.8
194
185.4
217.3
199
197.4
227.8
206
207.2
45
255.9
282.0
311.6
327.8
46
47
7.3
248.5
7.2
274.8
7.6
304.1
7.6
320.1
Rental income of persons with capital consumption adjustment
Imputations (91)
Excluding imputations (48-49)
48
49
50
9.2
-20.9
30.1
11.6
-16.5
28.1
13.4
-14.0
27.4
15.7
-15.0
30.7
Net interest
Imputations (90+97+102+103+104)
Excluding imputations (51—52)
51
52
53
319.0
214.3
1047
325.5
234.3
912
351.7
262.4
893
392.9
2779
1150
154.5
Personal outlays
Imputations (87+88+91+95+96+98+100+101+103+108+109+
110+111-89-118-120).
Excluding imputations (75-76)
75
76
2 733 9 2 889 5 3 058 3 •3 •30'2 0
2713 3 2 ggg 5 3 104 1 3 333 1
-57 7
tfi s
25 7
77
2 687.6 28720 30664 3 2967
Personal saving
Imputations (118+119+120-87-95-100)
Excluding imputations (78-79)
78
79
80
125 4
79.0
463
1249
107.3
175
101 8
110.0
82
1447
118.1
266
81
' 82
5287
1594
523 6
1908
5490
1997
6328
213 6
632.8
84
2727
293 7
317 1
3393
85
86
394
2332
420
251 7
445
272 5
465
292 8
Gross investment, or gross saving and statistical discrepancy
Imputations (1 18+1 19+120)
excluding imputations (ol 82)
Specific imputations
Owner-occupied nonfarm housing:
Space rent
Less: Intermediate goods and services consumed
Equals: Gross housing product
. .
Capital consumption allowances with capital consumption
adjustment.
87
64.3
66.6
71.9
76.7
Subsidies
Net interest
88
89
90
46 8
3
1433
50 1
2
151 8
53 0
2
161 9
57 2
2
174 1
-15.0
Space rent
92
100
89
84
87
Less: Intermediate goods and services consumed
Equals: Gross housing product
93
94
21
79
17
72
15
69
16
71
249.7
22 0
227.7
Proprietors' income with inventory valuation and capital
consumption adjustments.
Imputations (98+108+119)
Excluding imputations (45-46)
•2 ATJ Q
. ..
3,325.3 3,526.2 3,777.6 4,064.5
91.9
71.1
55.3
94.3
32700 3455 1 3,685 7 3,970 1
Personal income
.. ..
Imputations (91+98+103+108+109+1 10+1 1 1+1 19-89)
54
55
56
Interest received b
Imputations (104)
Excluding imputations (57—58)
57
58
59
965
51
91 4
1049
54
995
111 9
58
106 1
Interest paid by consumers to business
Imputations ( 90—97 102)
Excluding imputations (60-61)
60
61
62
82.6
—148 9
231.5
89.1
157 7
246.8
91.4
96.1
168 1 —180 8
259.5 277.0
63
64
65
4678
-3
468.1
496.8
-2
497.0
521.5
-2
521.7
Imputations (—89)
Excluding imputations (63-64)
1226
59
1167
555.7
-2
555.8
•s C9£ 9 •3 777 z A n/;/! ff
ffL
Imputations (91+98+103+108+109+1 10+1 1 1+1 19-89)
Excluding imputations (66-67)
•J -tjf
67
68
91.9
94.3
55.3
71.1
3,325.3 3,526.2 3,777.6 4,064.5
-3
1. Contributions for these programs, for which a social insurance fund is imputed, are set equal to benefits
paid. These payments are funded directly out of current budget.
2. Consists largely of retirement programs for Public Health Service officers and employees of the
judiciary.
3. Consists of payments for medical services for dependents of active duty military personnel at
nonmilitary facilities.
Owner-occupied farm housing:
Capital consumption allowances with capital consumption
adjustment.
Indirect business tax and nontax liability
Net interest
95
2.7
2.7
2.8
2.9
96
97
3
3
3
3
7
7
99
20.6
21.8
23.2
24.7
^
consumption adjustments.
Rental value of buildings and equipment owned and used by
nonprofit institutions serving individuals.
Capital consumption allowances with capital consumption
T H
t h
XT t • t
'
H
1' h'l'
y
'
To persons
To government
To foreigners
100
13.3
14.1
15.0
15.9
101
102
24
49
24
53
7 ^
07
f. 9
103
104
105
71 2
54
5.6
9
885
58
6.6
57
Farm products consumed on farms
106
602
51
5.3
.9
8
91 1
59
7.0
g
Less* Intermediate goods and services consumed
Equals' Gross farm product
107
108
5
4
4
5
4
4
4
4
Food furnished employees, including military and domestic service .. 109
Standard clothing issued to military personnel
110
111
8.8
1
9.3
1
9.9
1
10.6
1
Q
Q
Q
»
Employment-related*
Employer contributions for social insurance for Federal
Government empoyees: l
Workers' compensation
Unemployment insurance . .
Retirement programs
Military
Military medical insurance 3
112
113
114
115
116
117
118
119
120
g
9
I
I
9
1
10
17.6
17.6
.1
.8
18.0
17.9
.1
.9
18.5
18.4
.1
1.1
19.6
19.5
.1
1.2
141 2
2.7
15.6
171 1
3.2
16.5
177 0
3.9
18.8
189 8
3.8
20.0
I
Other:
Net purchases of owner-occupied housing units
Margins on owner-built homes
Net purchases of buildings and equipment owned and used by
nonprofit institutions serving individuals.
NOTES.—(1) Only national income and product items for which there are imputations are shown in this
table. (2) In table 8.8, imputed interest paid (line 35) is the difference between the property income received
by financial intermediaries from the investment of depositors' or beneficiaries' funds and the interest paid by
them to business, persons, governments, and foreigners. In table 8.9, imputed interest (line 52}—the interest
component of imputations that affect GNP—consists of the imputed interest paid by financial intermediaries
other than life insurance carriers and private noninsured pension plans to persons and government, and the
interest paid on owner-occupied housing and on buildings and equipment owned and used by nonprofit
institutions serving individuals.
102
SURVEY OF CURRENT BUSINESS
July 1989
Table 8.10.—Relation of Capital Consumption Allowances in the National
Income and Product Accounts (NIPA's) to Depreciation and Amortization as
Published by the Internal Revenue Service (IRS)
Table 8.11.—Relation of Nonfarm Proprietors' Income in the National Income
and Product Accounts (NIPA's) to Corresponding Totals as Published by the
Internal Revenue Service (IRS)
[Billions of dollars]
[Billions of dollars]
Line
1985
1986
1
2
316.8
327.3
1987
Net profit (less loss) of nonfarm proprietorships and partnerships,
plus payments to partners, IRS.
Corporations
Depreciation and amortization, IRS.. . .
Less: Depreciation of assets of foreign branches
Depreciation or amortization of intangible assets
Depreciation of films
. .
,
Plus: Accidental damage to fixed capital other than repairable damage
Depreciation of mining exploration, shafts, and wells
Depreciation of employees' autos reimbursed by business
Depreciation of railroad track charged to current expense '
Other
Equals: Capital consumption allowances, NIPA's .
.
Less: Capital consumption adjustment
Equals: Capital consumption allowances with capital consumption
adjustment, NIPA's.
3
4
5
6
7
8
9
10
11
12
47
Plus! Posttabulation amendments and revisions '
.
Depletion on domestic minerals
4
..
Adjustment to depreciate expenditures for mining exploration,
shafts, and wells.
Defaulters' gain
....
Income received by fiduciaries
Income of tax-exempt cooperatives
49
1.6
6
1.7
14.0
1.7
g
1.8
15.0
2.5
.1
2.7
Equals: Nonfarm proprietors' income, NIPA's
.1
328.3 339.7 3539 3685
59.7 53.8 50.9 46.8
268.6 285.9 303.1 321.7
85.0
13
Less: Depreciation or amortization of intangible assets
Adjustment for misreporting on income tax returns
Plus: Accidental damage to fixed capital other than repairable damage.....
Depreciation of mining exploration, shafts, and wells
Depreciation on employees' autos reimbursed by business
14
.4
4
4
15
16
17
18
7.5
.3
3.7
.4
8.4
.3
3.7
.5
Equals: Capital consumption allowances, NIPA's
Less: Capital consumption adjustment
Equals: Capital consumption allowances with capital consumption
adjustment, NIPA's.
19
81.5
32.2
49.3
89.9
38.3
51.6
87.2
33 1
54.2
1. Beginning in 1981, included in IRS depreciation (line 1).
20
21
1987
1
79.4
80.7
90.7
. 2
104.5
1169
137.5
3
4
.. 5
6
7
8
15
-1.9
7.8
14
-2.5
10.3
.6
26
.7
25
194.6
210.0
1988
9
-2.4
9.0
.8
23
238.9 259.2
1. Consists largely of adjustments for misreporting on income tax returns, oil well bonus payments written
off, adjustments for corporate partners, interest income, and margins on owner-built homes.
7.9
.4
38
.5
94.1
1986
Table 8.12.—Relation of Net Farm Income in the National Income and Product
Accounts (NIPA's) to Net Farm Income as Published by the U.S. Department
of Agriculture (USDA)
Nonfarm sole proprietorships and partnerships
Depreciation and amortization, IRS
1985
Line
1988
90.9
[Billions of dollars]
Line
87.7
31.2
56.5
1985
1986
1987
1988
Net farm income, USDA
1
32.4
37.7
46.7
44.7
Plus: Depreciation and other consumption of farm capital, USDA
2
3
4
20.0
.5
22.0
18.1
.5
21.5
16.6
.5
21.0
16.8
.5
20.3
5
-1.0
-3.1
-1.4
-.7
6
31.8
37.8
44.2
42.4
7
30.2
34.7
41.6
39.8
1.6
3.1
2.6
Less: Capital consumption allowances with capital consumption
adjustment, NIPA's.
Other1
Equals: Proprietors' income and corporate profits with inventory
valuation and capital consumption adjustments.
Corporate profits
8
2.7
1. Consists largely of salaries of corporate officers, defaulters' gains, and statistical revisions in net farm
income that have not yet been incorporated in the NIPA's.
103
SURVEY OF CURRENT BUSINESS
July 1989
Table 8.13.—Relation of Corporate Profits, Taxes, and Dividends in the
National Income and Product Accounts (NIPA's) to Corresponding Totals as
Published by the Internal Revenue Service (IRS)
Table 8.14.—Comparison of Personal Income in the National Income and
Product Accounts (NIPA's) with Adjusted Gross Income as Published by the
Internal Revenue Service (IRS)
[Billions of dollars]
[Billions of dollars]
Line
1985
Total receipts less total deductions, IRS
1
2401 2744
Plus: Posttabulation amendments andrevisions'
Income of organizations not filing corporation income tax
returns.
2
539
650
3
5.9
2.9
4
16.8
16.0
Federally sponsored credit agencies ^.
.
Other3
Depletion on domestic minerals
,
Adjustment to depreciate expenditures for mining exploration,
shafts, and wells.
State and local corporate profits tax accruals . «
Adjustment for interest payments of regulated investment
companies.
Adjustment to bad debt reserve
Defaulters' gain
. . .
. . . .
Less: Tax-return measures of:
Gains, net of losses, from sale of property
Dividends received from domestic corporations
.
Income on equities in foreign corporations and branches (to
U.S. corporations).
Costs of trading or issuing corporate securities
5
6
7
8
9
10
7
1986
1987
1988
7.2
0
76
-2.7
66
105
12
216
245
13
14
750 1237
170 152
15
45.7
16
6.8
9.1
17
31.2
18
224,3 221.6
19
111.3
Plus: Posttabulation amendments and revisions, including results of
audit and renegotiation and carryback refunds.
Amounts paid to U.S. Treasury by Federal Reserve banks
State and local corporate profits tax accruals
3,325.3 3,526.2 3,777.6 4,064.5
1,021.4 1,100.6 1,090.0
Equals: Profits tax liability, NIPA's
Profits after tax, NIPA's (18-26)
Dividends paid in cash or assets, IRS
Plus: Posttabulation amendments and revisions
Dividends paid by Federal Reserve banks and certain federally
sponsored credit agencies 2.
U.S. receipts of dividends from abroad, net of payments to
abroad.
Earnings remitted to foreign residents from their unincorporated
U.S. affiliates.
Adjustment for interest payments of regulated investment
companies.
21
22
17.8
20.2
26.7
24.4
196
1.7
128
.1
26
27
28
29
96,4 106.3
127.8
115.3
124.7
137.9
142.0
1689
110.4
161.5 190.7
-26 -138
30
.9
.6
31
12.2
17.6
32
33
1.1
-24.4
1.4
-28.5
Less: Dividends received by U.S. corporations
Earnings of U.S. residents remitted by their unincorporated
foreign affiliates.
Capital gains distributions of regulated investment companies
34
35
50.4
6.0
6.9
36
8.9
18.8
Equals: Net dividend payments, NIPA's
37
83.3
91.3
98.7
Undistributed profits, NIPA's (27-37)
38
446
240
433
51.1
585
1. Consists largely of audit profits, oil well bonus payments written off, adjustments for insurance carriers
and savings and loan association and tax-exempt interest income.
2. Consists of the following agencies: Federal land banks; Federal home loan banks and Federal Home
Loan Mortgage Corporation.
3. Consists of private noninsured pension plans, nonprofit organizations serving business, and credit unions.
440.8
454.3
184.3
55.3
112.8
195.7
71.1
119.0
208.9
91.9
129.1
6
7
348
330
873
977
91 2
9
130.2
143.3
81.5
299.4
397.8
452.2
149.3
69.8
72.9
161.9
133.6
94.1
6.2
1.2
7.5
.6
172.9
134.2
110.0
23.6
11.4
Adjusted cross income, IRS
12
13
14
15
.
94.3
141.9
33 1
g
11
AGI gap (line 18) as a percentage of BEA-derived AGI
(line 16).
AGI of IRS (line 17) as a percentage of BEA-derived AGI
(line 16).
17.8
22.5
24
25
416.8
4
5
10
Adjusted cross income (AGI) SQD 2 3
-7.9
23
Investment tax credit
Other tax credits
-4.9
3
16
266.7 306.8
111.1
20
1988
1
33.1
Equals: Profits before taxes, NIPA's
1987
2
Plus: Portion of adjusted gross income not included in personal
income.
Personal contributions for social insurance
Net gain from sale of assets
Taxable private pensions
Small business corporation income
Other types of income
39.8
Plus: Income received from equities in foreign corporations and
branches by all U.S. residents, net of corresponding outflows.
1986
.
retained by fiduciaries.
Differences in accountin° treatment between NIPA's and
tax regulations, net.
Other personal income exempt or excluded from adjusted
gross income.
202 225
-24.4 -28.5
11
1985
Less: Portion of personal income not included in adjusted gross
income.
Transfer payments except taxable military retirement and
taxable government pensions.
Other labor income except fees
Imputed income in personal income
Investment income of life insurance carriers and private
noninsured pension plans '.
Personal income, NIPA's
-11.6 -132
64
Line
2,603.4 2,823.4 3,139.8
17
194.9
2,306.0 2,481.7 2,788.0
18
297.4
341.7
19
11.4
12.1
11.2
20
88.6
87.9
88.8
351.8
1. Equals imputed interest received by persons from life insurance carriers and private noninsured pension
plans as shown in table 8,8 (line 50).
2. Consists of income earned by low-income individuals who are not required to file income tax returns,
unreported income that is included in the NIPA measure, and gross errors and omissions in lines 2 through
15. Also includes the net effect of errors in the IRS adjusted gross income (line 17) and NIPA personal
income (line 1) measures. Such errors can arise from the sample used by IRS to estimate line 17 and from
the data sources used by BEA to estimate line 1.
3. Because of the lack of data, the 1987 AGI gap does not reflect passive activity losses not allowed in the
tax code. The adjustment for passive activity losses not allowed would make the AGI gap larger.
104
SURVEY OF CURRENT BUSINESS
July 1989
9. Seasonally Unadjusted Estimates
Table 9.1.—Gross National Product, Quarterly Totals Not Seasonally Adjusted
[Billions of dollars]
Quarterly totals not seasonally adjusted
1985
Line
I
1986
n
HI
IV
I
II
1987
III
IV
I
1988
III
II
IV
I
II
III
IV
Gross national product
1
943.9
998.9 1,013.2 1,059.0 1,012.3 1,044.8 1,064.8 1,109.8 1,064.8 1,114.8 1,140.8 1,203.8 1,156.1 1,203.2 1,229.1 1,292.2
Personal consumption expenditures
2
615.1
649.1
659.4
705.4
658.3
687.6
702.2
749.3
699.8
746.5
759.7
804.7
760.8
797.5
810.0
866.8
3
4
5
81.3
95.5
225.0
328.5
101.3
254.5
349.7
86.2
216.2
355.9
101.2
231.1
355.4
104.1
233.6
364.5
114.5
261.1
373.8
89.8
204.6
329.2
94.1
227.1
338.1
223.2
386.9
107.7
247.4
391.5
108.0
249.1
402.6
115.6
278.4
410.7
101.6
236.5
422.8
116.5
256.5
424.5
110.6
263.2
436.2
296.2
444.0
6
Durable goods
Nondurable goods
Services
126.6
Government purchases of goods and services
Federal
National defense .
Nondefense
State and local
,
.
164.0
167.0
169.1
159.3
165.5
170.8
179.3
184.2
180.3
185.9
198.3
185.8
165.5
117.3
40.8
76.6
48.2
-7.1
-2.9
-4.1
145.8
104.6
34.3
70.3
41.2
18.3
17.6
.7
167.6
110.9
34.4
76.5
56.6
-.6
.3
-.9
170.1
106.9
35.3
71.5
63.3
-1.1
-.6
-.5
169.0
112.8
35.0
77.9
56.2
-9.7
-8.7
-1.1
145.7
100.4
28.9
71.5
45.4
19.8
19.9
-.1
171.7
112.1
32.7
79.4
59.6
-.8
-.3
-.5
177.5
113.1
35.7
77.4
64.4
1.8
3.0
-1.1
175.7
118.7
36.4
82.3
57.0
8.5
8.0
.5
158.5
112.7
31.0
81.7
45.8
21.8
20.3
1.5
185.2
124.5
35.0
89.5
60.7
.7
1.0
-.3
188.3
121.9
36.9
85.1
66.4
10.0
9.2
.8
187.6
128.0
37.5
90.6
59.5
-1.8
3.7
-5.5
-10.0
-19.8
-24.5
-23.7
-17.6
-24.9
-29.4
-25.5
-22.2
-29.4
-33.3
-27.7
-16.2
-19.2
-21.2
-17.0
94.2
104.1
94.6
114.5
88.3
112.8
93.8
117.5
98.4
116.0
98.9
123.7
97.5
126.9
101.7
127.2
103.9
126.1
111.1
140.5
112.4
145.7
121.2
148.9
130.0
146.3
135.4
154.6
136.9
158.1
145.3
162.3
18
.
Exports
Imports
158.4
161.4
108.1
39.0
69.1
53.3
4.9
7.1
-2.2
192.4
197.7
211.9
218.8
207.6
215.0
222.9
226.7
221.6
226.8
235.0
242.6
231.2
239.1
241.9
256.7
19
20
21
22
Net exports of goods and services
166.3
162.8
113.9
38.9
75.0
48.9
9.2
7.5
1.7
16
17
PrnH
' d hi
' me
Residential
Change in business inventories
172.0
142.1
103.6
34.5
69.1
38.4
4.2
2.9
1.3
15
Fixed investment
Nonresidential
1463
7
.... 8
9
10
11
12
13
14
Gross private domestic investment
83.9
61.8
22.1
108.5
82.0
63.1
18.9
115.7
90.6
66.7
23.9
121.3
98.7
67.5
31.1
120.1
89.1
66.1
23.0
118.5
89.5
69.5
20.0
125.5
91.3
72.3
19.1
131.5
96.6
69.9
26.7
130.1
93.5
71.7
21.8
128.1
91.7
73.4
18.3
135.1
93.7
74.9
18.8
141.3
102.7
74.7
27.9
140.0
93.5
74.0
19.5
137.7
92.8
74.1
18.7
146.3
89.6
74.2
15.4
152.3
105.4
75.7
29.7
151.3
23
24
933.7
939.7
988.6 1,004.3 1,047.7 1,002.4 1,036.5 1,056.5 1,101.9 1,057.0 1,107.2 1,134.3 1,195.3 1,147.2 1,195.1 1,222.2 1,282.9
994.1 1,045.3 1,065.8 1,119.5 1,045.1 1,115.7 1,139.0 1,195.3 1,134.3 1,202.5 1,219.1 1,294.0
989.7 1,008.2 1,066.0
Addenda:
Gross domestic product
Final sales
.• •
..
Table 9.2.—Personal Consumption Expenditures by Major Type of Product, Quarterly Totals Not Seasonally Adjusted
[Billions of dollars]
Quarterly totals not seasonally adjusted
1985
Line
I
.
II
1987
III
IV
I
n
1988
III
IV
I
II
III
IV
615.1
649.1
659.4
705.4
658.3
687.6
702.2
749.3
699.8
746.5
759.7
804.7
760.8
797.5
810.0
866.8
81.3
95.5
94.1
101.3
86.2
101.2
104.1
114.5
89.8
107.7
108.0
115.6
101.6
116.5
110.6
126.6
41.3
27.1
13.0
48.4
30.9
16.2
47.6
31.5
15.1
41.8
40.5
19.0
43.4
28.9
13.9
51.0
33.0
17.2
53.0
34.3
16.8
48.9
43.5
22.1
42.5
31.5
15.7
52.0
35.6
20.1
53.4
36.4
18.3
47.6
45.6
22.4
50.7
34.1
16.8
57.4
38.6
20.5
52.2
39.1
19.4
51.4
50.2
25.0
6
.
Services
.
....
.
204.6
225.0
227.1
254.5
216.2
231.1
233.6
261.1
223.2
247.4
249.1
278.4
236.5
256.5
263.2
296.2
7
8
9
10
11
12
Food
Clothing and shoes
I
3
4
5
Nondurable goods
Housing
.
Household operation
Electricity and gas
Other
Transportation
Medical care
Other
IV
1
.
Motor vehicles and parts
Furniture and household equipment
Other
Other nondurable goods
Fuel oil and coal
Other
III
2
Personal consumption expenditures
Durable goods
n
1986
108.4
30.6
20.6
44.9
6.1
38.8
118.6
37.2
23.6
45.7
3.5
42.2
121.1
37.0
23.6
45.4
3.3
42.2
123.6
51.5
22.8
56.6
5.6
51.0
115.4
33.2
20.4
47.2
6.1
41.1
125.3
39.5
18.7
47.7
3.2
44.5
128.1
39.7
17.8
48.0
2.9
45.1
131.2
54.4
16.6
58.9
4.5
54.4
122.2
34.6
16.9
49.4
5.6
43.8
133.7
42.4
19.3
51.9
3.5
48.4
135.9
42.0
19.8
51.4
3.1
48.2
137.3
58.1
19.2
63.8
5.4
58.5
128.5
36.8
17.7
53.5
6.8
46.7
139.5
43.3
19.6
54.1
3.8
50.3
144.7
44.1
20.2
54.2
3.4
50.7
147.0
62.6
19.3
67.3
5.5
61.8
13
329.2
328.5
338.1
349.7
355.9
355.4
364.5
373.8
386.9
391.5
402.6
410.7
422.8
424.5
436.2
444.0
14
15
16
17
18
19
20
97.4
49.0
28.3
20.7
21.4
70.1
91.2
99.7
38.9
17.5
21.5
22.5
71.8
95.6
101.9
41.3
19.4
21.9
23.1
73.7
98.1
104.0
46.1
23.8
22.3
22.7
75.9
101.0
105.5
48.5
25.9
22.5
23.2
77.2
101.5
107.7
41.1
18.1
23.0
24.1
78.4
104.1
109.7
43.5
20.2
23.3
24.7
80.4
106.2
111.3
46.5
23.0
23.5
24.6
82.5
108.9
113.6
49.3
25.7
23.7
25.3
85.5
113.1
115.9
42.9
18.8
24.1
26.6
88.4
117.6
118.1
45.6
20.9
24.6
27.1
91.2
120.6
120.2
48.0
23.1
24.9
27.4
92.5
122.6
122.5
52.5
27.4
25.2
27.8
95.5
124.5
124.4
44.7
19.0
25.7
29.7
97.8
128.0
126.6
48.6
22.2
26.4
30.5
101.2
129.3
127.9
51.8
25.1
26.7
29.9
103.9
130.6
105
SURVEY OF CURRENT BUSINESS
July 1989
Table 9.3.—Federal Government Receipts and Expenditures, Quarterly Totals Not Seasonally Adjusted
[Billions of dollars]
Quarterly totals not seasonally adjusted
1985
Line
I
II
1986
III
IV
I
1987
III
II
IV
I
II
1988
III
IV
211.6
I
II
III
IV
. ..1
196.5
208.3
199.1
184.8
202.3
218.8
209.3
197.5
214.2
259.4
226.2
234.2
271.7
241.0
225.5
2
3
4
5
80.8
16.9
13.3
85.4
89.6
19.7
14.5
84.5
91.5
20.8
13.9
72.9
84.5
18.9
13.3
68.0
80.7
18.8
12.3
90.6
95.3
21.7
12.4
89.5
96.5
21.8
12.9
78.1
88.9
21.6
12.9
74.0
85.6
21.5
12.6
94.4
124.2
26.4
13.9
94.9
102.4
28.2
13.9
81.7
93.6
24.9
13.3
79.8
90.4
24.3
13.8
105.7
120.0
29.2
14.7
107.8
104.0
29.9
14.0
93.1
98.6
28.1
14.2
84.6
». 6
239.3
239.8
246.2
260.3
250.8
259.0
257.9
267.1
265.5
263.4
264.4
279.5
274.0
278.0
272.5
293.7
7
8
9
83.9
61.8
22.1
82.0
63.1
18.9
90.6
66.7
23.9
98.7
67.5
31.1
89.1
66.1
23.0
89.5
69.5
20.0
91.3
72.3
19.1
96.6
69.9
26.7
93.5
71.7
21.8
91.7
73.4
18.3
93.7
74.9
18.8
102.7
74.7
27.9
93.5
74.0
19.5
92.8
74.1
18.7
89.6
74.2
15.4
105.4
75.7
29.7
10
11
12
94.4
91.7
2.7
94.7
91.7
3.0
94.8
91.3
3.5
96.2
92.1
4.1
98.4
95.8
2.5
99.2
95.5
3.8
100.9
97.0
3.9
101.4
97.7
3.8
102.4
99.8
2.6
103.5
100.8
2.7
103.9
101.2
2.7
104.5
100.1
4.3
109.6
106.9
2.7
110.0
107.5
2.5
108.6
105.8
2.8
110.0
105.2
4.8
13
23.3
24.1
24.9
27.4
25.7
26.9
27.4
26.7
24.9
25.8
25.6
26.3
27.2
27.4
27.8
29.1
14
15
16
17
18
31.8
37.0
31.7
5.3
5.2
32.8
37.9
32.7
5.3
5.2
32.4
38.2
32.8
5.4
5.8
33.2
38.9
33.5
5.4
5.7
33.7
39.5
33.9
5.6
5.9
34.3
39.7
34.2
5.6
5.5
33.5
39.6
33.9
5.7
6.1
34.2
39.4
33.7
5.7
5.2
34.5
39.6
33.6
6.0
5.1
34.8
39.9
33.9
6.0
5.0
35.3
40.6
34.7
6.0
5.4
37.1
42.2
36.0
6.2
5.1
36.3
42.9
36.3
6.6
6.6
37.5
42.7
35.6
7.1
5.2
38.1
43.4
35.9
7.5
5.3
39.5
44.8
37.1
7.8
5.3
Subsidies less current surplus of government enterprises
Subsidies
.
Less* Current surplus of government enterprises
19
20
21
5.9
6.6
.6
5.9
6.7
.8
3.5
4.0
.5
4.9
4.9
0
4.0
5.0
1.0
9.1
9.9
.8
4.8
5.2
.4
8.2
6.4
-1.8
10.3
9.3
-.9
7.5
6.7
-.8
6.0
5.1
—9
8.9
9.7
.8
7.5
7.4
-.1
10.3
8.1
-2.2
8.4
4.4
-4.0
9.7
9.0
—8
Less: Wage accruals less disbursements
22
0
23
-42.8
Receipts
.
Personal tax and nontax receipts
Corporate profits tax accruals
.
Indirect business tax and nontax accruals
Contributions for social insurance
Expenditures
Purchases of goods and services
National defense
, .
Nondefense
...
t
To persons .. .
To foreigners
. .
.
. .
Grants-in-aid to State and local governments
.
Net interest paid
.
Interest paid
.
.
.
To persons and business
To foreigners
.
Less* Interest received by government
. . .
.
...
.
.
.
Surplus or deficit (-), national income and product accounts
0
0
-47.1
-.3
-31.4
-75.6
0
0
-48.5
-40.2
0
-48.6
.1
0
0
-51.3
-4.0
0
-69.6
-38.2
-.1
0
-67.8
-39.8
0
0
-6.3
0
-31.5
-68.2
Table 9.4.—State and Local Government Receipts and Expenditures, Quarterly Totals Not Seasonally Adjusted
[Billions of dollars]
Quarterly totals not seasonally adjusted
1985
Line
1986
1987
1988
I
1
Receipts
2
3
4
5
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance
,
.
.
I
II
HI
IV
I
II
III
IV
I
II
III
IV
141.0
142.9
140.4
157.5
153.0
153.7
151.1
168.5
159.6
163.6
156.9
175.9
171.9
173.3
168.0
188.4
36.9
5.2
66.0
10.7
34.4
5.5
64.6
10.9
35.4
5.1
78.6
11.1
44.9
6.2
74.3
12.4
39.6
6.7
72.5
12.6
33.5
4.5
69.3
10.4
36.2
4.8
75.0
11.3
39.0
5.9
70.4
11.5
36.8
5.9
69.1
11.8
39.4
5.9
84.0
12.5
39.7
5.0
77.8
12.2
41.6
58
89.5
12.8
43.0
5.7
83.0
13.0
45.0
7.0
80.8
13.2
41.9
7.2
77.7
13.4
43.8
6.6
95.3
13.6
6
23.3
24.1
24.9
27.4
25.7
26.9
27.4
26.7
24.9
25.8
25.6
26.3
27.2
27.4
27.8
29.1
121.2
128.6
134.5
132.3
132.2
139.9
146.3
145.2
142.8
150.4
156.3
155.2
153.0
162.2
168.6
168.1
151.3
. . .
Less* Dividends received by government
.
t
.
.
.
Subsidies less current surplus of government enterprises
Subsidies .
....
Less: Current surplus of government enterprises
Less: Wage accruals less disbursements
Surplus or deficit (— ), national income and product accounts
108.5
115.7
121.3
120.1
118.5
125.5
131.5
130.1
128.1
135.1
141.3
140.0
137.7
146.3
152.3
9
24.4
25.4
25.9
25.4
26.5
27.8
27.8
28.8
28.8
29.9
30.0
30.9
31.1
32.3
33.0
33.9
10
11
12
. . . . . .
Net interest paid
Interest paid . .
Less: Interest received by government
IV
8
Purchases of goods and services
Transfer payments to persons
HI
7
Federal grants-in-aid
Expenditures
II
-7.7
10.1
17.8
-8.0
10.4
18.4
-8.3
10.7
19.0
-8.5
11.0
19.5
-8.4
11.4
19.9
-8.5
11.8
20.3
-8.6
12.2
20.8
-8.8
12.5
21.3
-9.1
12.9
21.9
-9.3
13.3
22.5
-9.5
13.6
23.1
-9.7
14.0
23.7
-9.9
14.4
24.3
-10.0
14.8
24.8
-10.1
15.2
25.3
-10.3
15.5
25.8
13
. .
1.0
1.1
1.2
1.2
1.3
1.3
1.4
1.5
1.6
1.7
1.7
1.8
1.9
2.0
2.1
2.2
14
15
16
-3.1
.2
3.2
-3.3
.2
3.5
-3.2
.2
3.4
-3.5
.2
3.6
-3.2
.2
3.4
-3.5
.2
3.7
-3.0
.2
3.2
-3.5
.2
3.7
-3.5
.2
3.6
-4.1
.2
4.3
0
-4.1
.2
4.3
0
-4.4
.2
4.6
0
-4.4
.2
4.6
-4.6
.2
4.8
0
-3.8
.2
4.0
0
.6
20.7
18.9
11.1
-.7
17
0
0
18
19.9
14.3
5.8
0
0
0
25.2
20.9
13.8
0
4.8
0
0
-3.6
.2
3.8
0
23.3
16.8
13.2
0
0
20.4
SURVEY OF CURRENT BUSINESS
106
July 1989
Table 9.5.—Foreign Transactions in the National Income and Product Accounts, Quarterly Totals Not Seasonally Adjusted
[Billions of dollars]
Q uarterly t otals not seasonal y adjusts d
19 86
1985
Line
19 87
19 88
I
Merchandise
Services
Factor income
Other
Capital grants received by the United States (net)
.
Psyments to foreigners
Imports of goods and services
Merchandise
Services
Factor income
Other
.
.
.
.
Net foreign investment
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
94.2
94.6
88.3
93.8
98.4
98.9
97.5
101.7
103.9
111.1
112.4
121.2
130.0
94.2
56.6
37.6
22.5
15.1
94.6
56.9
37.8
22.6
15.1
88.3
51.9
36.4
21.2
15.2
93.8
55.5
38.3
23,4
15.0
98.4
55.4
43.0
22.7
20.2
98.9
56.6
42.3
22.1
20.2
97.5
53.7
43.7
20.8
22.9
101.7
58.7
43.0
21.4
103.9
59.0
45.0
22.1
22.9
111.1
63.0
48.0
24.0
24.0
112,4
62.8
49.6
121.2
70.3
50.9
26.8
24.1
130.0
76.8
53.2
27.8
25.4
216
236
260
o
III
IV
135.4
136.9
145.3
135.4
80.6
54.8
136.9
78.8
58.1
28.4
29.7
145.3
85.8
59.5
32.1
27.5
285
264
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
94.2
94.6
88.3
93.8
98.4
98.9
97.5
101.7
103.9
111.1
112.4
121.2
130.0
135.4
136.9
145.3
104.1
79.1
25.0
12.2
12.8
114.5
86.4
28.0
117.5
91.0
26.5
12.1
14.5
116.0
86.8
29.2
123.7
91.6
321
126.9
92.8
34.1
127.2
96.5
148.9
110.7
146.3
107.3
1546
111.5
158 1
111.5
1623
118.7
13.8
18.3
21.5
17.2
17.6
140.5
102.2
38.2
16.4
21.9
1457
105.2
126
126.1
94.2
31 8
16.4
307
135
15.7
112.8
84.4
28.4
12.3
16.2
17 1
23.4
18.3
19.9
20.0
22.9
21 5
25.1
20.8
3.2
.5
2.7
5.3
3.4
.4
3.0
5.3
4.0
.4
3.5
5.4
4.5
.4
4.1
5.4
3.1
.6
2.5
5.6
4.1
.4
3.8
5.6
4.4
.5
3.9
5.7
4.2
.5
3.8
5.7
3,2
,6
2.6
6.0
3.1
.4
2.7
6.0
3.2
.5
2.7
6.0
4.7
.4
4.3
6.2
3.3
.6
2.7
6.6
2.8
.3
2.5
7.1
3.3
.5
2.8
7.5
5.2
.4
4.8
7.8
-185
-285
-336
-264
-346
-395
-354
-31 3
-385
-425
-386
-262
-29 1
-32 1
-300
I
II
III
IV
617
677
300
377
-60
72 1
80 1
752
808
362
439
437
728
782
347
43 5
-80
-5 6
-54
124
-33.8
128
143
405
382
389
189
432
203
466
435
228
Table 9.6.—Corporate Profits With Inventory Valuation Adjustment, Quarterly Totals Not Seasonally Adjusted
[Billions of dollars]
Q uarterly totals not seasonal ly
1985
Line
adjust sd
1986
m
IV
1987
m
1988
I
Corporate profits with inventory valustion adjustment .
Profits before tax
Profits tax liability
Profits after tax
Inventory valuation adjustment . .
1
2
3
4
5
II
49.7
56.5
60.9
55.5
54.5
58.8
59.6
55.4
53.8
64.0
68.2
61.8
50.4
57.3
58.8
57.8
50.1
56.9
56.9
57.7
57.4
69.3
72.2
67.9
21.4
29.0
24.8
32.4
26.3
32.5
23.9
33.9
23.6
26.5
27.6
29.3
27.7
29.2
27.5
30.3
26.5
32.6
34.8
30.8
37.1
-.7
-.7
2.1
-2.3
4.5
1.9
2.7
-2.3
I
II
IV
I
308
-35
II
367
-54
III
374
-40
IV
-6 1
37 i
SURVEY OF CURRENT BUSINESS
July 1989
107
Composite Indexes of Leading, Coincident, and Lagging Indicators
Recent Data and Percent Changes
1988
1989
Index
July
Sept.
Aug.
Nov.
Oct.
Jan.
Dec.
Mar.
Feb.
1988
Apr
May
June"
1989
III
IV
I
II"
Index (1982=100)
Leading index
142.7
144.1
143.7
143.9
144.0
145.0
146.1
' 145.7
'144.7
' 145.6
' 143.7
143.5
143.5
144.3
' 145.5
144.3
Coincident index
128.9
129.3
129.3
130.6
130.6
131.4
' 132.3
' 132.6
' 132.6
' 133.3
' 133.0
132.9
129.2
130,9
132.5
133.1
116.4
116.4
116.5
117.8
118.1
'119.3
' 120.5
' 121.3
' 120.5
' 121.7
122.2
116.2
117.5
' 120.4
121.5
'-.7
Lagging index
.
115.8
Percent change from preceding month (quarter)
•
Lagging index
1.0
.3
.3
0
1.0
-.2
Coincident index
-.3
.1
-.8
Leading index
.5
0
.1
.1
.8
'-.3
.6
'.7
.2
1.1
.3
'1.0
"1.0
'0
'.7
.6
'-1.3
-.1
.8
.6
.8
-.8
'.5
-.2
-.1
1.1
1.3
1.2
.5
-.7
1.0
.4
.5
1.1
"2.5
.9
88
.7
0
89
' Preliminary.
- Revised.
NOTE.—Quarterly data are averages of monthly figures. Quarterly percent changes are computed from quarterly data.
Long -Term Perspective: January 1969 to June 1989
1982 = 100 (Ratio scale)
1969
70
Note.— Peak (P) indicates the end of business cycle expansion and the beginning of recession
(shaded area). Trough (T) indicates the end of business cycle recession and the beginning of
expansion. Business cycle peaks and troughs are designated by the National Bureau of Economic
U.S. Department of Commerce, Bureau of Economic Analysis
Research, Inc. The numbers entered on the chart indicate the length of leads (-)
months from the business cycle turning dates.
and lags (+) in
By ALLAN H. YOUNG
BEA's Measurement of Computer Output
JL HIS article addresses issues raised
in a recent study by Edward Denison
about BEA's measurement of the output of computers.1 Denison concludes
that BEA's measurement of the output of computers in the national income and product accounts (NIPA's) is
incorrect. He argues that BEA did
not implement the resource-cost concept of capital in measuring the output of computers when it introduced
the computer price index in the comprehensive revision of the NIPA's in
1985 and that, consequently, computers are not measured in terms of the
concept used for other types of capital
goods. He also suggests that consideration be given to measuring capital
in terms of consumption forgone rather
than in terms of resource cost.
Part I of this article, "Capital Measured by Cost," introduces three issues
raised by Denison concerning whether
BEA's measurement of the output of
computers implemented the resourcecost concept, demonstrates that the approach BEA used is consistent with
the resource-cost concept, and examines some aspects—largely statistical
in nature—that one needs to consider
in evaluating the approach.
Part II, "Capital Measured by Consumption Forgone," considers Denison's reason for advancing the consumption-forgone concept and notes related work by other investigators.
NOTE.—Frank de Leeuw and Jack E. Triplett
provided many helpful comments and suggestions in the preparation of this article. Other
BEA staff members who provided assistance included David W. Cartwright, Michael F. Mohr,
and John C. Musgrave. The following persons
also provided helpful comments: Rosanne Cole,
Edwin R. Dean, Edward F. Denison, Ellen R.
Dulberger, Charles R. Hulten, and Martin L. Marimont. Teresa A. Williams provided secretarial
assistance.
1. Edward F. Denison, Estimates of Productivity
Change by Industry (Washington, DC: The Brookings
Institution, 1989).
108
Part III, "A Summing Up," reviews
why Denison's study does not present
convincing reasons to change the treatment of computers in the measurement of output and suggests that the
consumption-forgone concept can play
a useful role in studying sources of
growth but not in measuring the output of capital goods.
The overall topic of Denison's study
is the estimation of productivity. In addition to considering BEA's measurement of the output of computers, Denison raises two issues pertaining to
BEA that are not addressed in this article. One pertains to possible errors in
the way BEA partitions growth in GNP
among industries. The other pertains
to whether BEA's new computer price
index lessens the usefulness of measures of GNP based on a single weight
year. BEA addressed the first of these
two issues in an article in the July 1988
SURVEY OF CURRENT BUSINESS.2 That
2. "Gross National Product by Industry: Comments
on Recent Criticisms," SURVEY OF CURRENT BUSINESS 68
(July 1988): 132-133.
article also evaluated similar points
raised by Lawrence Mishel.3 An article in the April 1989 SURVEY considered aspects of the second issue; it
described BEA's plans to develop alternative measures of real GNP that
use different approaches to weighting
components.4 Other parts of Denison's
study that pertain to the Bureau of Labor Statistics (BLS) calculation of estimates of multifactor productivity by
industry and his suggestion that productivity by end product be calculated
are not taken up here.5
3. Lawrence Mishel, Manufacturing Numbers: How
Inaccurate Statistics Conceal U.S. Industrial Decline
(Washington, DC: Economic Policy Institute, 1988).
4. Allan H. Young, "Alternative Measures of Real
GNP," SURVEY OF CURRENT BUSINESS 69 (April 1989): 2734.
5. BLS currently prepares multifactor productivity
measures for three major sectors of the economy, twenty
two-digit manufacturing industries, and four three-digit
manufacturing industries. For the major sectors and
the two-digit multifactor measures, BLS uses BEA output in the preparation of its output measures and incorporates BEA's measures of gross private domestic fixed
investment in the calculation of capital services.
I. Capital Measured By Cost
Issues Raised by Denison
This section introduces three issues
raised by Denison concerning whether
BEA implemented the resource-cost
concept in measuring the output of
computers.
In his study, Denison reviews BEA's
treatment of computers in light of the
methods of measuring capital that he
first advanced in his seminal paper on
the measurement of capital in the mid1950's. The following descriptions of
these methods are from his 1989 study;
the methods are described more fully in
his original paper.
Method 1: Capital measured by cost.
The first method is both fruitful and practical. The value, in base period prices, of
the stock of durable capital goods (before
allowance for capital consumption) measures the amount it would have cost in
the base period to produce the actual stock
of capital goods existing in the given year
(not its equivalent in ability to contribute
to production). Similarly, gross additions
to the capital stock and capital consumption are valued in terms of base year costs
for the particular types of capital goods
added or consumed. For durable capital goods not produced in the base year,
one must substitute the amount it would
have cost to produce them if they had been
known and actually produced. But a similar modification is required in all deflation
or index number problems. ...
July 1989
Method 2: Capital input proportional
to total output. This method, deriving
from the assumption of constant capitaloutput ratios, assumes that the capital
stock moves in proportion to output. It is
essential to realize that the method does
not yield a measure of capital's contribution to output. For use as such a measure, its result is fatally flawed because
the method takes no account of other inputs. For example, if output doubles with
a new machine, the new machine is said
to be twice as much capital as the old, regardless of whether its operation requires
one-tenth as much labor, structures, materials, or other inputs as the old machine
or ten times as much. Because it does not
take account of changes in requirements
for other inputs, it is a nonsense method
that I have not heard advocated for many
years.
The new measures of quantities and
prices of computers are based on the computer's capacity to acquire, store, retrieve,
process, and display information. They
take no account of requirements for other
inputs—labor, electricity, structures, paper, programs, and so on—and therefore appear to correspond to method 2
measures.15 ...
15. I ignore here the consideration that even
believers in the constant capital-output ratio
have usually applied it to the total output and
capital of an industry or the whole business sector, not to the output of a particular process and
a particular machine used in that process.
Method 3: Capital measured by marginal products. This third method requires
that not only the effect of a new machine
on output but also the effect on requirements for other inputs be taken into account. New capital goods are equated with
old ones by their marginal products. Thee
input of a type of machine moves like its
contribution to output. If the new good
has a marginal product twice as large as
the old, it represents twice as much capital. The ordinary capital-output ratio
is free to move as it will, in contrast to
method 2.
Except for computers, Denison and
BEA agree that method 1—capital
measured by cost, which in this article
is called the resource-cost concept—is
used by BEA to measure both the output of capital in the NIPA's and the
associated stocks of fixed capital. In
the case of computers, BEA takes the
position that its approach is consistent
with method 1. Denison takes the position, however, that BEA's treatment of
computers is not in accord with method
1 but with method 2. As Denison describes method 2, its key feature is that
the estimator imposes proportionality
6. Denison, Estimates, pp. 25-28; and "Theoretical
Aspects of Quality Change, Capital Consumption, and
Net Capital Formation," in Problems in Capital Formation, Studies in Income and Wealth, Volume 19 (Princeton, NJ: Princeton University Press for the National
Bureau of Economic Research, 1957), 215-261.
109
SURVEY OF CURRENT BUSINESS
between capital and output as a way
of estimating capital.7
Denison also evaluates BEA's approach in terms of method 1. He faults
it because of "the introduction of new
products (models) into the price index
by comparing their prices and characteristics with older ones in the year
they appear on the market."8 Consequently, in Denison's view, BEA's computer price index declines too rapidly,
thereby overstating the growth of capital and understating the contribution to growth made by advances in
knowledge.
Also in terms of method 1, Denison faults BEA's approach because
it extends "the values for performance characteristics far beyond the
range attained by products previously
available."9
How BEA Measures
Computers
This section illustrates BEA's approach to measuring the output of computers in terms of hypothetical examples that are designed to show that
the approach is consistent with the
resource-cost concept.
The essence of BEA's treatment of
computers may be viewed as composed of three procedures, designated
A, B, and C. Procedure A measures
the quantity and price of an identical machine that is produced over
time with successive, improved technologies. Procedure B measures the
quantity and price when a second machine, the same in type but different in size, is introduced in the base
7. Distinctions between method 1 and method 3 are
not taken up in this article. Denison has advocated
method 1 for measuring both the output of capital goods
and for measuring the stock of capital from which he
derives capital services. Many investigators consider
method 1 to be the appropriate concept for measuring the output of capital and method 3 to be the appropriate concept for capital services. Jack Triplett of
BEA, among others, argues that in most practical cases
method 3 and method 1 will give similar results because, for small changes and in equilibrium, an improved machine will be adopted whenever the value of
its increased marginal product (over the old) exceeds
the price premium charged for it and because the price
differential, in equilibrium, will also approximate the
ratio of marginal production costs for the two machines.
See Jack E. Triplett, "Concepts of Quality in Input and
Output Price Measures: A Resolution of the User ValueResource Cost Debate," in Murray F. Foss, ed., The U.S.
National Income and Product Accounts: Selected Topics, Studies in Income and Wealth, Volume 47 (Chicago:
University of Chicago Press for the National Bureau of
Economic Research, 1983), 296-311.
8. Denison, Estimates, p. 29.
9. Denison, Estimates, p. 27.
year. Procedure C measures the price
of a hypothetical machine of a specified
size using data-on machines of other
sizes. For each procedure, the example
makes clear how observed prices are
used to establish the resource cost of
the machine in question. (The designation of A, B, and C does not reflect
the order in which the procedures are
applied, but only the order chosen to
facilitate their description.)
Procedure A
Procedure A measures the quantity
and price of an identical machine that
is produced over time with successive,
improved technologies. It is illustrated
in exhibit 1. The exhibit is designed
(1) to highlight several characteristics
of computer production that must be
taken into account in measuring prices
and output and (2) to set the stage for
the discussion of capital measured by
consumption forgone in part II. Lines
1-15 in the exhibit illustrate procedure
A; lines 16-26 pertain to part II.
The basis for the example.—The example incorporates the following conditions. Suppose that an identical machine is produced each year and that
every 3 years a new technology is introduced that reduces the resources required to produce the machine. Each
successive technology overlaps the previous technology by 1 year. In the year
in which the two technologies coexist,
the price of the machine produced with
the new technology is set higher than
the machine's cost of production, while
the price of the machine produced with
the old technology is set lower than the
cost of production. In the second year
of a new technology, the price of the
machine is set equal to the cost of production. In the third, the price is set
lower, reflecting the arrival of the next
generation of technology. Further, for
simplicity, in the year in which two
technologies overlap, the example assumes that one-half of the machines
are produced by the new technology
and one-half by the old and that the
premium and discount are such that
the machines are equal in price. In
addition, suppose that the price of resources required to produce the machine increases each year irrespective
of the particular technology in place.
Finally, year 2—a year in which the
price of the machine is equal to the
cost of production—is taken as the base
year.
Lines 1-15 in exhibit 1.—In the exhibit, the successive technologies are
designated I, II, and III. Lines 1-3
show the number of units of the machine that are produced with each technology. For each technology, one machine is produced in the first year, two
in the second year, and one in the third
year, when a newer technology is also
in place. Lines 4-6 show the price of
the machine dropping with each successive technology, with the prices of
the machines produced by two overlapping technologies being equal. Lines
7-10 show the revenue realized from
sale of the machines—the number of
units times the price.
Lines 11-14 show the value of the
machines in terms of production costs
in the base year; that is, they implement Denison's method 1 for measuring capital in terms of its resource
cost. The entries are obtained by multiplying the base-year (year 2) price
of the machine times the number of
machines produced each year. Given
that the price is equal to production
costs in year 2, this method values the
machines in terms of resource costs
in the base year. Line 15 shows the
price index for the machine, computed
by dividing the total constant-dollar
value of the machines (line 14) into the
current-dollar revenue (line 10).
The following points about the entries on lines 1-15 should be noted.
(1) Given the stipulation that the
machines produced over time are identical, the example presents no obstacle
to the conventional methods of measuring price change, such as those BLS
uses to measure producer prices, which
implement the resource-cost concept.
(2) Although the observed price of
the machine does not equal the resource cost in each year, one can still
measure the machines produced in
terms of resource cost in the base year.
To obtain the desired measure, the estimator must only either know or assume the relationship between price
and resource cost in the base year. In
the example, the two are taken to be
equal.
(3) The designation of the measures
on lines 11-14 is chosen so as to clar-
Exhibit 1.—Identical Machines Produced With Successive Generations of Improved Technology
Year
1
Price (dollars):
Technology I
Technology II
Technology III
2
3
4
5
6
7
1
Units produced (number):
Technology I
2
Technology II
3
Technology III
1
4
5
6
July 1989
SURVEY OF CURRENT BUSINESS
110
2
1
1
2
1
1
2
1
1.18
7
8
9
10
Revenue (dollars):
Technology I
Technology II
Technology III . . .
Total
11
12
13
14
Resource cost in constant (year 2) dollars with
base- year (year 2) technology:
Technology I
,
Technology II
Technology III
Total
1.18
100
2.00
.85
.85
.72
.61
61
.85
.85
1.44
.61
61
52
44
1.18
2.00
1.70
1.44
1.22
1 04
1.04
44
.44
1.00
2.00
1.00
1.00
2.00
2.00
2.00
1.00
1.00
.52
.44
16 Resource price index (year 2=1.00)
1.22
1.28
17
18
19
20
Resource cost in current dollars:
Technology I
Technology II
Technology III
.
Total
21
22
23
24
Resource cost in constant (year 2) dollars with
current-year technology:
Technology I .
Technology II
Technology III
Total
25
26
Technological change index (year 2=1.00):
Line 14/line 24
Line 16/line 15
,
1.04
1.04
.55
.55
.85
.85
.43
.43
235
235
235
2.00
2.00
2.00
1.18
1.00
.85
.72
.61
.95
15 Machine price index (year 2=1.00) . .
1.00
1.00
1.00
2.00
1.00
1.05
1.10
1.16
.95
2.00
1.05
.69
1.44
.76
.49
1.44
1.25
.66
1.31
.66
.43
.95
2.00
1.74
1.00
2.00
1.00
1.00
2.00
1.66
1.31
1.09
1 00
100
1.20
1 53
1.53
1 83
1.00
NOTE.—The example does not show technologies before I and after III. Entries for units produced and price in years 1 and
7 assume technological change is occurring in a similar manner before I and after III.
ify one aspect of Denison's description
of method 1: That the machines produced each year are valued in terms of
the real resources required to produce
them in the base year with base-year
technology.
Lines 16-26 in exhibit 1.—The remainder of the exhibit introduces a
second measure of real resource cost,
which will be discussed in part II. In
this measure, real resources are stated
in terms of current-year technology.
This measure is obtained by deflating
the current-dollar resource cost by an
index of resource (input) prices. Line
16 shows the resource price index, and
lines 17-20 show the current-dollar resource costs. The entries for years 2,
4, and 6, when only one technology is
in use, are equal to the current-dollar
revenue entries on lines 7-10. The entries for the other years are calculated
according to the assumed change in resource prices shown on line 16.
Lines 21-24 show the second measure of real resource cost—the real resources required to produce the machines with current-year technology.
They are obtained by dividing the resource price index (line 16) into the resource cost in current dollars (lines 1720).
The ratio of real resource cost expressed in terms of base-year technology to that expressed in terms of
current-year technology measures the
technological change in the production
of the machine. For years 2, 4, and 6,
the ratio of the resource price index to
the machine price index likewise measures technological change. These ratios are shown as indexes of technological change on lines 25 and 26. (No
entries are shown on line 26 for years
1, 3, 5, and 7, because in those years
the price of the machine is not equal to
its cost of production.)
Procedure B
Procedure B provides the total
constant-dollar resource cost when two
or more machines of different sizes are
produced in the base year. It is a type
of procedure basic to all price index
work. The procedure is illustrated in
exhibit 2, where a standard size machine is produced in years 1, 2, and
3 and a large size version is produced
in years 2 and 3. Year 2 is the base
year, and in that year the price of each
machine is equal to its cost of production. Under these conditions, the total
constant-dollar resource cost in terms
July 1989
Exhibit 2.—Two Machines of Different Sizes
Produced in the Base Year
Year
1
2
3
Units (number):
Standard size....
1
1
1
1
1
Price (dollars):
Standard size
Large size
12
10
15
g
13
12
10
g
13
2.1
Revenue (dollars):
Standard size
Large size
Total
Resource cost in constant (year 2)
dollars with base-year (year 2)
technology:
Standard size
.
Large size
Total
Machine price index (year 2=1.00)
15
1.2
2.5
10
1.0
10
15
2.5
2.5
1.20
1.00
.84
10
15
of base-year technology is the sum of
the cost for each machine.
Procedure C
So far, procedures have been set
forth for incorporating into the price
index the prices of identical machines
produced with successive, improved
technologies and the prices of machines
of the same type, but of different size,
produced in the same period. These
two procedures would be sufficient for
pricing computers if each size of machine were represented in the base
year. Because this is not the case, it
is necessary to establish for each size
of machine that is not produced in the
base year the price in the base year
of a hypothetical machine with identical characteristics. Procedure C, which
is an application of the hedonic technique, estimates this price from data
on the prices and characteristics of actual machines in the base year. Once
the necessary hypothetical machines
are established in the base year (procedure C), each machine produced in
years other than the base year can be
related to either an actual or hypothetical identical machine in the base
year (procedure A), and the various actual and hypothetical machines in the
base year can be equated to each other
(procedure B).
The application of the hedonic technique is illustrated in exhibit 3, in
which the price of different sized goods
is determined by only one variable.
Suppose that a type of lathe is produced in several sizes, but that not
all sizes are produced in any given
year. Everything about the lathe—the
111
SURVEY OF CURRENT BUSINESS
motor, cutting tool, etc.—is the same
for each size, except for the bed and
the frame required to support the bed.
Over time, the price of the lathe is
reduced. These price reductions are
made possible by developments pertaining to the cost of the bed and
frame: Stronger, lighter, less expensive materials; new methods of fabricating and assembling; and improved
design that reduces use of a given material, independent of other factors.
(For simplicity, the selling price is assumed to equal the resource cost in
each period.) An example that incorporates these conditions is shown in the
top panel of the exhibit.
In the example, year 1 is taken as
the base period. In that year, lathes
with beds and frames of 12", 36", and
48" are produced; in year 2, lathes of
36", 48", and 60" that reflect cost savings with respect to the bed and frame
are produced; in year 3, lathes of 24",
48", and 72" that reflect further cost
savings are produced. Thus, it is necessary to estimate the cost of hypothetical lathes of 24", 60", and 72" in year 1.
The costs of the hypothetical lathes
are estimated by first establishing the
costs of the bed and frame for the hypothetical lathes and then combining
those costs with the fixed costs for the
motor, cutting tool, etc. In the example, the cost of the bed and frame is
linearly related to their length. The
hypothetical cost of the 24" lathe in
year 1, therefore, may be established in
a straightforward manner. However,
to infer hypothetical costs for 60" and
72" lathes, it is necessary to extend
the cost relationship beyond the range
of observations in year 1. The extension is based on the assumption that,
if larger beds and frames had been produced in year 1, their costs would have
been linearly related to their length in
the same manner as in years 2 and 3.
The bottom panel of the exhibit shows
in parentheses the estimated hypothetical costs and sales prices.
Extending the cost relationship in
the base year well beyond the range of
observations is an issue raised by Denison. Several aspects of the issue need
to be considered. Whether the same
functional form holds across all years,
as does the linear relationship in the
example, is an empirical question that
can be tested statistically.
Whether larger machines could have
been produced in the base year at
the cost predicted by the function is
a technical question to which the answer may vary by type of machine
and by type of technology. However,
it seems reasonable to conclude that
there would be few instances in which
a larger size of a capital good could
have been built in the base year for
less than the predicted cost. The more
likely case is that subsequent technological developments removed barriers existing in the base year that
would have made larger machines very
costly. Thus, extending the cost relationship in the base year to obtain predicted costs and sales prices for large
hypothetical sizes may understate the
cost of larger sizes in the base year
and thereby understate the price decline from the base period to the later
period.
Finally, if judged necessary, one may
be able to minimize the need to extend
the cost relationship by selecting one
base year rather than another. For
example, if one specified the most recent year as the base year, it would
probably not be necessary to extend the
function to larger machines, although
it might be necessary to extend it to
more smaller machines.
Exhibit 3.—Resource Cost and Price of
Lathes of Different (Actual and Hypothetical) Sizes
Year
1
Actual sizes
Cost of bed and frame:
12"
.
24"
36"
48"
60"
12"
.
Cost of motor, cutting tool, etc., for
2
3
1.00
0.75
2.00
2.50
2.00
Total resource cost (equals sales
price):
12"
3.00
24"
.
. ..
36"
..
, 4.00
48"
, 4.50
60"
. ....
72"
Actual and hypothetical sizes l
Cost of bed and frame:
12"
1.00
24"
(1.50)
36"
.
2.00
48"
2.50
(3.00)
60"
(3.50)
72"
Cost of motor, cutting tool, etc., for
2.00
all sizes .
Total resource cost (equals sales
price):
12"
, 3.00
(3.50)
24"
4.00
36"
48"
.
4.50
(5.00)
60"
.
72"
(5.50)
1.20
1.50
1.80
1.25
1.75
2.00
2.00
2.75
3.20
3.50
3.80
3.25
3.75
.75
1.20
1.50
1.80
1.25
1.75
2.00
2.00
2.75
3.20
3.50
3.80
3.25
3.75
1. Resource costs and sales prices of hypothetical sizes are
shown in parentheses.
112
Application of the hedonic technique
to computers.—In applying the hedonic technique to computers, one cannot
proceed in the simple manner outlined
in exhibit 3 for the following reasons.
(1) Detailed component cost data corresponding to those in exhibit 3
are not available for computers.
The only data that are available
correspond to the total prices of the
lathes in the exhibit.
(2) Computers are more complex than
the one variable case in the exhibit. For example, in terms of the
exhibit, suppose that the horsepower of the motor was not fixed
across all lathe sizes, but that a
more powerful motor was available as an option, which, depending on the use of the machine,
some purchasers would choose
while others would not.
(3) The sizes of computers do not necessarily remain fixed. For example, in terms of the exhibit, suppose that in year 3 the producer
added 1 inch to the size of each
model so that the new lathes were
25", 49", and 73".
The complexities listed above were
handled in the following manner for
computers.
(1) A continuous function was fitted to
actual prices to obtain hypothetical prices.
(2) Additional explanatory variables
were included to represent additional, cost-determining characteristics (such as the size of the motor), and fixed costs (such as those
for the cutting tool) were included
in the constant term.
(3) The continuous function permitted
information on machines of new
sizes to be included.
Statistical Considerations
This section briefly examines several
important, largely statistical aspects
of BEA's measurement of the output
of computers that one needs to consider in evaluating the approach. The
note accompanying this article provides more details about the approach;
the statistical and conceptual aspects
of the approach are taken up more fully
in the references cited in the note.
SURVEY OF CURRENT BUSINESS
Applying the hedonic function
Selection of the function.—The mathematical function used in the hedonic
technique, the log-log function, was selected based on statistical tests. Other
functions that were tested included the
linear and semilogarithmic functions.
In the case of computers, the estimated coefficients in the log-log function provide approximate proportionality, at any point in time, between
a computer's characteristics and its
price. That is, if one computer has
twice the speed and memory size of another, its price will be approximately
twice as high. This empirical finding might be what led Denison to describe BEA's procedure as corresponding to method 2. However, his method
2 does not pertain to proportionality
between the characteristics of a computer and its price; rather, it pertains
to proportionality between the stock of
computers and the output of computerusing industries. BEA has in no way
imposed proportionality of this latter
kind. BEA did not even impose the approximate proportionality between the
computer's characteristics and its price
noted above; such proportionality was
an empirical outcome.
Extension beyond the observed range
in the base year.—The log-log function was extended beyond the range of
observations in 1982 to impute hypothetical base-year prices both for large
computers produced after 1982 and for
small computers produced before 1982.
The question of whether these extensions are appropriate statistically was
examined in several tests.
One test applied when the function
was initially fit to data for 1972-84
tested whether single-year regressions
could be pooled into a multiyear regression. The test showed that the
same function fit the data for the entire
1972-84 period, suggesting that imputing outside the range of 1982 probably involves only a small error.
Another test carried out initially involved tracking the price of a computer
of given speed and memory size across
the years included in the sample. It
was found that the rate of price decline
for a specified size of computer closely
matched that for the computer price index BEA adopted as a deflator.
Later, using data through 1987, the
function was examined for evidence
that it had changed over time. The test
showed that the parameters for 1985-
July 1989
87 do not differ significantly from those
for earlier years.
These tests show that the selected
log-log function is stable and well behaved. They do not indicate that
extension beyond the observed range
in the base year overstated the price
decline.10
Introduction of new models
Denison maintains that new models should not be introduced into the
price index in the year they appear
on the market, on the grounds that
the subsequent rapid price declines
that come with large-scale production
will receive undue weight. This point
only applies to a situation in which
a price movement that is not representative of the universe receives undue weight. This can be a problem
in cases where the sample of products that are priced is selected judgmentally, or where the sample is extremely small. It should not, however, be a problem in BEA's computer
price index, which is based on prices
for all models within the defined category of equipment. Each model represents only itself and is priced over the
entire model cycle. Beginning with the
year of introduction, the new model's
price can then be weighted by the actual market share of the model. In
this way, one achieves an exact correspondence between the price represented in the price index and the price
and sales quantity represented in the
transactions data.
Selection of a base year
In measuring prices and output, the
selection of a base year necessarily involves judgment. For computer processors, the explicit assumption is that the
price of a processor incorporating 64
kilobit technology in 1982 was equal
to its production cost. Because this
technology was in place for a considerable period of time both before and
after 1982, this appears to be a reasonable assumption. Similar assumptions
were made for the other types of com-
10. The various tests and their results are described
by Ellen R. Dulberger, "The Application of a Hedonic
Model to a Quality-Adjusted Price Index for Computer
Processors," and Jack E. Triplett, "Price and Technological Change in a Capital Good: A Survey of Research on
Computers," in Dale W. Jorgenson and Ralph Landau,
eds., Technology and Capital Formation, (Cambridge,
MA: The MIT Press, 1989), 37-76 and 127-214; and
by Jack E. Triplett, "Two Views on Computer Prices
and Productivity," Bureau of Economic Analysis (Unpublished, 1989).
113
SURVEY OF CURRENT BUSINESS
July 1989
puter equipment. There is no apparent
reason to conclude that the assumption that prices of the various types of
equipment are equal to resource costs
in 1982 introduced much error or that
it was less appropriate for computers
than for other capital goods.
Costless quality change
Costless quality change can be defined as the difference between (1) the
value of a change in a good's ability to
produce as a result of the addition of
a new feature and (2) the cost of the
new feature. Fundamentally, the difference between Denison's and BEA's
approach lies in Denison's willingness
to view an increase in memory size or
speed as a new feature and then to
assign it a zero cost. In BEA's approach, an increase in memory size or
speed represents a resource cost and,
through the use of the hedonic technique, it is treated as such and counted
as part of measured quality—that is,
as quantity. The difference between
Denison and BEA is best considered
not in terms of costless quality change,
but in terms of how to measure resource cost accurately.
It should be noted that BEA's treatment of computers may not have fully
accounted for the resource-using type
of quality change. To the extent
that computer manufacturers added
features that had a cost in resources
and that are not taken into account
in the hedonic function, the estimated
quality change falls short of the actual amount. For example, if in
some year computer manufacturers
introduced increased reliability at a
resource cost, BEA would not have
counted it as an increase in resource
cost. Instead, such a cost would have
been (incorrectly) counted as an increase in price. Given the possibility of situations such as this, BEA's
computer price index may have understated the decline in computer prices.
Note on the Application of the Hedonic Technique
The application of the hedonic technique to develop a price index for
computers and its use in deflating components of GNP was described
in three articles by IBM staff and BEA staff in the SURVEY OF CURRENT
BUSINESS in 1986.1 In addition, an update on the use of the computer
price index in deflating components of GNP was provided in an article in
the November 1988 issue of the SURVEY.2 Three topics covered in those
articles will be taken up briefly: (1) The types of products for which price
indexes were calculated, (2) the data on prices and characteristics, and
(3) the measures of technology included in the hedonic function.
Price indexes were calculated for four types of computer equipment:
Computer processors, disk drives, printers, and general purpose displays. The data on prices and characteristics were from publicly available sources and generally covered the period 1972-84. The sample
for processors consisted of 67 different models from 4 manufacturers; that for disk drives, 30 devices marketed by 10 vendors; that for
printers, 480 models marketed by 126 vendors; and that for displays,
772 models marketed by 115 vendors. Results obtained by the IBM
staff from the processor sample were subsequently compared by BEA
with results from an augmented sample containing 187 models from 17
manufacturers.
The selection of relevant characteristics was carried out by the IBM
staff, drawing upon the expertise of both engineers and economists.
For processors, two characteristics were selected—main memory capacity and a summary of speed at which instructions are executed.
For disk drives, two characteristics were selected—capacity and speed.3
For printers, three characteristics were selected—speed, resolution, and
on-line fonts. For displays, four characteristics were selected—-screen
capacity, resolution, number of colors, and number of programmable
function keys.
Technology was represented explicitly in the hedonic functions estimated for processors, disk drives, and printers. For processors, the sample was stratified into eight technology classes, ranging from magnetic
core in 1972 to the 64-kilobit chip during 1979-84. For disk drives, nine
technology classes were distinguished, having recording densities ranging from 220 kilobits per square inch in 1972 to over 12,000 kilobits per
square inch during 1981-84. Printers were sorted into two categoriesimpact and nonimpact—and further classified by print mechanism. The
function for displays did not account for technology, as distinguished
from time.
1. Jack E. Triplett, "The Economic Interpretation of Hedonic Methods," and
Rosanne Cole et al., "Quality-Adjusted Price Indexes for Computer Processors and
Selected Peripheral Equipment," SURVEY OF CURRENT BUSINESS 66 (January 1986):
36-40 and 41-50; and David W. Cartwright, "Improved Deflation of Purchases of
Computers," SURVEY OF CURRENT BUSINESS 66 (March 1986): 7-9.
2. David W. Cartwright, "Deflators for Purchases of Computers in GNP: Revised
and Extended Estimates, 1983-88," SURVEY OF CURRENT BUSINESS 68 (November
1988): 22-23.
3. See Cole et al., p. 42, for the three components of disk drive speed.
Table 1.—Four Types of Computer Equipment, Average Annual Rates of
Change in Composite Price Indexes
[Percentl
Processors
Disk drives
Printers
Displays
1972-77
-11
-15
-6
-4
1977-84
-22
-11
-19
-10
1972-84 .
-18
-13
-14
_7
A composite Paasche price index was constructed for each of the
four types of equipment, using matched model prices wherever possible.
When a model was not available in the base year (1982), an estimate
of its price was made by valuing its characteristics produced with the
dominant technology in 1982 using the estimated hedonic function. For
processors, the dominant technology hi 1982 was the 64-kilobit memory
chip; for disk drives, it was recording densities of 3,071-3,084 kilobits
per square inch. For printers, the estimate was made according to category and print mechanism. For displays, where technology did not
appear explicitly in the function, estimates of unobserved prices were
made by evaluating the function for implied prices of those characteristics in 1982.
The weights for the composite indexes for processors were estimates
of the quantity of each model shipped; for disk drives, they were estimates of quantity shipped by technology class; and for printers, they
were estimates of the quantity shipped by type of printer (e.g., dot
matrix or laser jet). For displays, an equally weighted index was constructed. Except for processors, for which the shipments were available
by model, the prices for models within a class were averaged to obtain
an estimated price for the class.
The composite indexes showed substantial rates of price decline. The
average annual rates of change for 1972-77,1977-84, and 1972-84 are
shown in table 1. Over the entire period 1972-84, the decline was
largest for processors, at 18 percent per year; the decline was smallest
for displays, at 7 percent per year. The composite indexes, along with a
price index for tape drives, were combined into a deflator for computers
and computing equipment using domestic shipments by type of equipment as weights. The deflator was extended back to 1969 using other
information on computer prices. Prior to 1969, the deflator was held
constant at the 1969 level.
The deflator was used in the deflation of components of GNP, as described in the previously referenced 1986 SURVEY articles. In July 1987,
a separate index for personal computers (based on matched models) was
introduced, as described in the November 1988 SURVEY article.
114
SURVEY OF CURRENT BUSINESS
II. Capital Measured by Consumption Forgone
In his study, Denison advances a
fourth method for measuring fixed capital stocks (and capital input) for the
purpose of analyzing the sources of
long-term growth. This method, which
he designates method 4, would measure capital in terms of the consumption that is forgone in order to release
resources for the production of capital goods. Denison defines net real investment in terms of consumption forgone as equal to "the quantity of consumer goods that resources devoted to
increasing the capital stock would have
provided if devoted instead to the production of consumer goods by the methods used in the base year."11 Apparently, Denison favors measuring the
output of capital goods as well as capital input in this manner.12
Denison advances method 4 in order
to assign the contribution to growth
that arises from productivity gains
in the capital-goods-producing industries to the appropriate category in his
growth accounting. When capital is
measured by base-year resource cost
and when output is measured net of
depreciation, such gains are ultimately
counted in capital's contribution to
growth. By use of the consumptionforgone concept, Denison intends for
such gains not to be counted in capital's
contribution, but to be included in the
residual—i.e., as gains not attributable
to labor or capital—and counted as
part of the contribution to growth of
advances in knowledge.
Exhibit 1 illustrates a key feature
of Denison's definition of capital measured in terms of consumption forgone.
The phrase "resources devoted to increasing the capital stock" refers to the
resources actually used in a given year
in the production of capital. In terms of
exhibit 1, these are the resources measured in terms of current-year technology on line 24. For example, in year
4 in the exhibit, the real resource cost
(in year 2 dollars) to produce two machines is $1.31. If these resources had
been "devoted instead to the production of consumer goods by the methods used in the base year," the cost (in
year 2 dollars) of the consumer goods
produced in year 4 would also have
11. Denison, Estimates, p. 30, footnote 19.
12. Denison, Estimates, pp. 36-37.
been $1.31. Thus, the difference between capital measured by method 1
and by method 4 is reflected in the
index of technological change on line
25. If technological change permits
a machine to be produced over time
at a lower resource cost, it is counted
as a decreasing amount of capital by
method 4, while it is counted as a constant amount of capital by method 1.
In the exhibit, the entries for the
price of inputs and the price of output
were selected to correspond roughly to
those for computers. The rate of technological change as represented by the
index on line 25 is about 20 percent
per year. Thus, the difference between
Denison's method 1 and method 4 in
the case of computers is substantial.
The differences for other types of capital goods would be smaller.13
Work by other investigators
Denison cites the work by T.K.
Rymes as the basis for his suggestion that capital be measured in terms
of consumption forgone.14 In his approach to productivity measurement,
Rymes treats capital input as an intermediate good—as a produced means of
production—and restates it so that it
reflects the increasing efficiency with
which it is produced. He shows that
with the most aggregated approach, a
restated measure of capital could be
derived from data used in a conventional multifactor productivity calculation by subtracting from the change in
capital either the difference between
the change in the wage rate and the
change in the price of output or the difference between the change in output
and the change in labor input. However, a more detailed approach by industry is preferred; such an approach
requires use of an input-output table
to trace the effects of a productivity
change in a given industry on other
industries.
Recently, Rene Durand and Mehrzad
Salem have argued that the timing of
13. The example assumes that the industry producing
the computer also produces the inputs, such as semiconductors, that are also characterized by very rapid
technological change.
14. T.K. Rymes, "The Measurement of Capital and
Total Factor Productivity in the Context of the Cambridge Theory of Capital," Review of Income and Wealth
18 (March 1972): 79-108; and "More on the Measurement of Total Factor Productivity," Review of Income
and Wealth 29 (September 1983): 297-316.
July 1989
Rymes' restatement of capital input is
incorrect.15 According to Durand and
Salem, Rymes restates capital in terms
of the efficiency with which new capital is being produced in the current
period. They argue that the restatement should be in terms of the periods
in which the stock of capital in the current period was produced.
Charles Hulten also treats capital
as an intermediate good in considering
sources of growth.16 He says "part of
the historically observed growth rate of
capital stock is ... the result of productivity change, and must be recognized
as such when assessing the importance
of productivity change as a source of
growth."17 Hulten takes into account
the increasing efficiency with which
capital is produced with a two-stage
approach. The first stage is a conventional multifactor productivity calculation. The second stage calculates
a "dynamic residual" from the residuals in the conventional multifactor productivity calculation. This "dynamic
residual" takes into account the expansion of capital induced by technological
change.
Clearly, whether capital input
should be measured in terms of consumption forgone instead of in terms of
resource cost is far from settled. There
may not even be agreement on how
to implement the consumption-forgone
concept. While Denison apparently favors measuring the output of capital
as consumption forgone, the other investigators who advocate treating capital as an intermediate good apparently
do not take this position. In fact, a
theme in the work by Rymes is that
capital should be stated differently as
output in the numerator than as input in the denominator of a productivity ratio: Only the denominator would
be restated to reflect the efficiency with
which capital is produced.
As a data producer, BEA might at
some point provide measures of capital
stock in terms of consumption forgone,
as an alternative to those in terms of
resource cost. However, for the time
being it would seem to be appropriate
for any such restatements of capital input to be carried out by the productivity analyst.
15. Rene Durand and Mehrzad Salem, "Alternative
Measures of Productivity Growth in a Rectangular
Input-Output Framework," Statistics Canada (Unpublished, May 1989).
16. Charles Hulten, "On the Importance of Productivity Change," American Economic Review 69 (March
1979): 126-136.
17. Ibid., 126.
SURVEY OF CURRENT BUSINESS
July 1989
III. A Summing Up
The computer represents a rate of
technological change that, compared
with the past, is unusual and that,
more importantly, has not previously
been faced fully either by the GNP estimator or by the productivity analyst.
It is not surprising that BEA's introduction of the computer price index in
1985 has led to further examination of
how the output of capital goods and
capital input should be measured. No
doubt there is more to be learned.
This article has demonstrated that
BEA's approach to measuring the output of computers is consistent with the
resource-cost concept of capital. BEA's
approach may be viewed as consisting
of three procedures, in each of which
the observed prices are used to establish the resource cost of the computer
in question. Fundamental to the approach is the definition of identical machines in procedure A. In that procedure, a new computer model is taken
to be identical to an earlier computer
model produced with less advanced
technology if the two computers are
identical in terms of cost-determining
characteristics such as computation
speed and memory size.
Given that observed prices are used
to establish resource cost, there is
no basis for Denison's conclusion that
BEA implemented his method 2 rather
than method 1. With respect to Denison's point that new models are introduced into the price index too early,
it has been argued that BEA used the
correct approach given that the price
index is based on all models within the
115
defined category, not on a judgmentally
selected sample. With respect to Denison's point that it is not appropriate to
extend the hedonic function beyond the
observed range in the base year, statistical tests provide no evidence that
the extension has overstated the price
decline of computers. It has also been
noted that the effect of omitting new
features in the hedonic function would
be to understate the price decline.
Finally, the restatement of capital
input so that it reflects the increasing
efficiency with which it is produced—
the consumption-forgone concept favored by Denison—has appeal. Without such restatement, advances in
knowledge may be assigned too small
a role when considering sources of
growth. Such a restatement can be
carried out in the course of measuring capital input and its contribution
to growth. With respect to the measurement of the output of capital goods,
there appears to be little reason to
replace the resource-cost concept with
the consumption-forgone concept.
By NED G. HOWENSTINE
U.S. Affiliates of Foreign Companies:
1987 Benchmark Survey Results
lONBANK U.S. affiliates of foreign companies continued to expand in
1987, according to preliminary results
of BEA's latest benchmark survey of
foreign1direct investment in the United
States. Affiliates' employment, assets, and sales increased, primarily as
a result of acquisitions of U.S. companies by foreign investors.
Benchmark surveys are BEA's most
comprehensive surveys—both in terms
of companies covered and information
gathered. The 1987 survey updates
universe estimates derived from other
BEA surveys and provides information
not available in those surveys. The last
benchmark survey covered 1980.
The following are highlights from the
1987 benchmark survey:
• Employment by U.S. affiliates increased 222,000 in 1987, to 3,160,000
NOTE.—Acknowledgment of the efforts of all
those who contributed to the benchmark survey
appears on page 132.
1. A U.S. affiliate is a U.S. business enterprise in
which a single foreign person owns or controls, directly
or indirectly, 10 percent or more of the voting securities
if an incorporated business enterprise or an equivalent
interest if an unincorporated business enterprise.
CHART 7
Affiliate Employment, Percent
Distribution by Industry, 1987
Other
Real Estate
Industries
(1%)
Insurance
(3%)
Finance
(3%)
Petroleum
(4%)
U.S. Department of Commerce, Bureau of Economic Analysis
116
Data Availability
Additional detail from BEA's benchmark and
annual surveys of foreign direct investment in the
United States is available in separate publications
and on computer diskettes. For ordering and other
information, see page 140 of this issue.
(table 1). The rate of increase—
8 percent—was slightly above the 6percent average annual rate of increase for 1980-87.
• The share of all-U.S.-business employment accounted for by affiliates
was 3.6 percent in 1987, up sightly
from 3.5 percent in 1986. In 1980, the
share was 2.7 percent.
• Manufacturing accounted for nearly one-half of affiliate employment in
1987 (chart 7). Retail trade (18 percent), wholesale trade (10 percent), and
services (9 percent) accounted for the
next largest shares. Although large,
the share of affiliates in manufacturing was down from 1980, when it was
54 percent (chart 8). The share of affiliates in services, in contrast, doubled—
from 4 percent to 8 percent. Shares
also increased in retail trade and finance (except banking).
• Affiliates with ultimate beneficial
owners (UBO's) in the United Kingdom
and Canada accounted for the largest
shares of total affiliate employment—
20 percent and 19 percent, respectively
(chart 9).2 These shares were significantly larger than the next largest
shares, which were the 12-percent
share for affiliates with UBO's in West
Germany and the 9-percent share for
affiliates with UBO's in Japan. Since
1980, shares of affiliates with UBO's
in Canada, Japan, and Australia increased, while those of affiliates with
UBO's in all other individual countries
shown in the chart declined (chart 10).
• Among U.S. regions, almost onehalf of total affiliate employment was
in the Southeast (789,000) and the
Mideast (735,000). Among States, California had the most affiliate employees (324,000), followed by New York
(300,000), Texas (208,000), and New
Jersey (169,000).
• Total assets of U.S. affiliates were
$926 billion in 1987, up $88 billion
from 1986. As in earlier years, most
of the increase resulted from acquisitions of U.S. companies by foreign investors. The 11-percent increase in
1987 was well below the 18-percent average annual rate of increase for 198087. The comparatively slow growth in
1987 partly reflected sales by several
foreign owners of interests in nonbank
finance affiliates that had large assets.
A South African parent sold its minority interest in a particularly large affiliate. Primarily as a result of this sale,
total assets of affiliates with UBO's in
South Africa declined over $70 billion.
• By industry of affiliate, the largest
increases in assets in 1987 were in
CHART 8
Affiliate Employment, Percent
Distribution by Industry.
1980 and 1987
0
10
20
Percent
30
40
50
Manufacturing
Retail Trade
Wholesale Trade
Services
Petroleum
Finance
Insurance
2. The UBO is that person, proceeding up a U.S. af- Reg| Egtate
1980 .|
| 1987
filiate's ownership chain, beginning with and including
the foreign parent, that is not owned more than 50 percent by another person. The foreign parent is the first ^ jncjustrjes
foreign person in the affiliate's ownership chain. Unlike the foreign parent, the UBO of an affiliate may be
U.S. Department of Commerce, Bureau of Economic Analysis
located in the United States.
60
Table 1.—Selected Data of Nonbank U.S. Affiliates, 1980,1986, and 1987
Change
1980
1986
Average
annual
rate of
growth.
1980-87
Percent
change,
1986-87
221.8
6
8
1987
1980-87
1986-87
Thousands of employees
Employment
117
SURVEY OF CURRENT BUSINESS
July 1989
.
2,033.9
2,937.9
3,159.7
1,125.8
Millions of dollars
291,339
.
Gross property, plant, and equipment
Manufacturing '
Commercial property
Other
. . .
Sales
Goods
Services
Investment income
Net income
838,039
926,042
634,703
88,003
18
11
127,838
49,544
28,876
49,418
320,215
n.a.
n.a.
n.a.
346,212
124,803
90,886
130,523
218,374
75,259
62,010
81,105
25,997
n.a.
n.a.
n.a.
15
14
18
15
8
n.a.
n.a.
n.a.
412,390
n.a.
n.a.
n.a.
Total assets
672,004
n.a.
n.a.
n.a.
731,392
621,848
90,764
18,780
319,002
n.a.
n.a.
n.a.
59,388
n.a.
n.a.
n.a.
9
n.a.
n.a.
n.a.
9
n.a.
n.a.
n.a.
8,759
2,458
9,859
1,100
7,401
2
301
U.S. merchandise exports shipped by affiliates
52,199
49,560
47,929
-4,270
-1,631
-1
-3
U.S. merchandise imports shipped to affiliates
75,803
125,732
140,617
64,814
14,885
9
12
Addenda:
Thousands of employees
Employment of all nonbank U S businesses
75,674
84,055
86,584
Percent
U.S. affiliates as a percent of all nonbank U.S. businesses
2.7
3.5
3.6
n.a. Not available.
1. Includes petroleum refining.
manufacturing ($26 billion), insurance
($20 billion), and nonbank finance ($19
billionXtables 2 and 3).
• By country of UBO, affiliates with
UBO's in Japan had a particularly
large increase in assets—$98 billion
(tables 4 and 5). As a result, total assets of these affiliates reached $196 billion at yearend 1987 and were larger
than those for any other country. Prior
to 1987, Japan ranked third in terms of
assets, after the United Kingdom and
Canada. The sharp rise in Japaneseowned affiliates' assets in 1987 was
concentrated in finance (except banking). In that industry, assets increased
$82 billion, to $119 billion, largely because of Japanese investors' acquisitions of minority interests in two large
U.S. companies.
• The gross book value of U.S. affiliates' property, plant, and equipment
(PPE) increased $26 billion, to $346
billion. Of the total, PPE used for
manufacturing accounted for $125 billion, commercial property for $91 billion, and all other uses for $130 billion.
Affiliates' commercial property grew at
a faster average annual rate over the
1980-87 period than their total PPE—
18 percent, compared with 15 percent.
As a result, the share of total PPE accounted for by commercial property increased from 23 percent in 1980 to 26
percent in 1987. At the same time, the
share of PPE used for manufacturing
declined from 39 percent to 36 percent.
• Sales by U.S. affiliates increased
$59 billion, to $731 billion. This 9percent increase equaled the average
annual growth rate for 1980-87. Of
the 1987 total, sales of goods accounted
for $622 billion, sales of services for
$91 billion, and investment income for
$19 billion. By industry, sales were
CHART 9
Affiliate Employment. Percent
Distribution by Country, 1987
largest in wholesale trade and manufacturing. By country of UBO, affiliates with UBO's in Japan and the
United Kingdom had the largest sales.
• Net income of U.S. affiliates increased from $2 billion in 1986 to $10
billion in 1987. A shift from large capital losses to capital gains accounted
for a substantial portion of the increase. Net income before capital gains
or losses increased from $6 billion to
$8 billion. In 1986, capital losses
occurred because petroleum affiliates
lowered the book value of their oil reserves and because chemicals and machinery manufacturing affiliates lowered the book value of various assets.
• U.S. merchandise exports shipped
by affiliates decreased $2 billion in
1987, to $48 billion, and U.S. merchandise imports shipped to affiliates
increased $15 billion, to $141 billion.
Exports were $4 billion lower than
in 1980 and imports were $65 billion
higher. In 1987, affiliates in wholesale
trade accounted for 61 percent of exports and 75 percent of imports. By
country of destination or origin, trade
with Japan accounted for over 41 percent of affiliates' exports and for nearly
50 percent of their imports.
• The benchmark survey covered
8,260 fully consolidated U.S. businesses; these businesses represented
21,895 individual U.S. companies.
Text continues on p. 122.
CHART 10
Affiliate Employment, Percent
Distribution by Country,
1980 and 1987
0
5
Percent
10
15
Australia
(3%)
U.S. Department of Commerce, Bureau of Economic Analysis
89-7-9
y g Department of Commerce, Bureau of Economic Analysis
20
25
SURVEY OF CURRENT BUSINESS
118
July 1989
Table 2.—Selected Data of Nonbank U.S. Affiliates, by Industry of Affiliate, 1986
Millions of dollars
Total
assets
Thousands
of
employees
Mineral
rights
owned and
leased
Land
owned
Gross
property,
plant, and
equipment
Expenditures for
new plant
and
equipment
U.S.
U.S.
merchandise exports
shipped by
affiliates
merchandise
imports
shipped to
affiliates
. . .
838,039
672,004
2,458
86,492
2,937.9
13,991
52,337
320,215
28,516
49,560
125,732
76,740
51,003
25,737
66,225
31,408
34,817
-1,162
162
-1,324
5,038
3,512
1,526
117.7
78.7
39.0
875
(°)
(D)
33,089
16,014
17,075
81,216
56,120
25,096
4,599
3,435
.
1,165
1,164
607
558
6,623
4,028
2,595
190,619
226
46,276
1,411.6
5,847
11,490
114,067
10,441
12,805
20,617
21,022
7,588
13,434
21,666
2,981
18,685
365
282
83
3,874
566
3,308
160.2
20.7
139.5
50
21
30
(D)
0
(D)
7,895
1,580
477
1,103
60,120
41,104
9,664
7,569
1,783
1,849
1,556
149
122
21
13,561
9,240
2,470
1,511
340
376.8
253.8
66.6
47.1
9.4
(D)
(D)
0
0
49,923
40,901
5,289
2,656
3,228
5,390
4,392
4,387
3,026
25,103
16,283
6,360
9,923
8,819
-271
-68
-45
-23
-202
5,937
3,281
1,437
1,844
2,656
158.5
79.7
32.6
47.1
78.8
30,590
10,433
2,084
8,350
20,156
4,483
9,014
6,660
34,435
10,857
2,074
8,783
23,579
5,986
10,562
7,030
-2,758
-397
-151
-246
-2,362
-23
-2,077
-262
10,377
3,062
600
2,462
7,315
1,758
3,583
1,975
314.8
91.6
15.9
75.7
223.3
46.5
105.6
71.2
650
212
136
1,443
916
111
805
527
3,184
1,007
303
704
2,178
394
1,117
667
2,819
630
2,189
825
6,481
2,121
465
1,656
5,766
2,086
535
308
92
1,076
766
269
498
309
1,755
399
120
279
1,356
227
733
396
917
252
192
22,429
15,231
5,114
10,117
7,199
761
699
23
(D)
(°)
500
489
26
464
11
778
131
647
4,163
504
31
473
70,709
47,726
9,763
11,387
1,833
47,674
2,018
2,053
5,264
11,124
n.a.
n.a,
432
1,975
11,610
6,897
5,402
1,495
4,419
1,884
49,295
2,614
1,779
5,170
8,627
n.a.
n.a.
637
2,249
11,602
10,034
8,371
1,663
4,493
2,090
1,041
73
9
155
289
n.a.
n.a.
9
33
455
-144
-143
-2
140
23
12,528
676
377
1,299
2,522
n.a.
n.a.
157
544
2,874
2,368
1,878
490
1,208
503
401.3
32.9
18.9
38.5
84.0
n.a.
n.a.
5.3
18.6
80.2
62.3
46.5
15.7
41.0
19.6
4,509
7
2,836
1,307
8
n.a.
n.a.
1
8
329
7
6
1
4
2
26,719
2,668
2,283
4,524
1,198
1,193
63
153
224
115
n.a.
n.a.
7
80
141
983
697
286
362
156
211
245
162
125
n.a.
n.a.
113
132
484
1,966
1,796
170
744
342
87,899
23,755
n.a.
12,880
11,045
n.a.
n.a.
3,044
7,800
8,902
261,954
77,067
n.a.
55,910
21,377
n.a.
n.a.
11,849
36,452
16,662
689
1,116
n.a.
71
-251
n.a.
n.a.
61
-37
-116
10,059
2,512
n.a.
826
1,469
n.a.
n.a.
564
571
1,190
308.0
71.1
n.a.
23.5
50.0
n.a.
n.a.
22.4
20.3
35.1
94,517
43,637
29,943
n.a.
n.a.
n.a.
n.a.
46,453
n.a.
n.a.
n.a.
n.a.
283
n.a.
n.a.
n.a.
n.a.
7,533
n.a.
n.a.
n.a.
n.a.
250,356
.
31,095
1,710
5,396
.
t
Beverages
Other
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap cleaners and toilet goods
Other
.
. .
Primary and fabricated metals
Primary metal industries
Ferrous
Nonferrous
Fabricated metal products
.
. . .
.
.
•«
.
Machinery
...
...
Machinery except electrical
Office and computing machines
.
Other
Electric and electronic equipment
.
. . . . . . .
Audio video and communications equipment . . . .
.
Electronic components and accessories
. . . .
Other
..
»
.
.
.
Other manufacturing
.
Printing and oublishing
NewsoaDers
Other
«. l » l l t t > l g
Employee
compensation
192,424
AH industries
Petroleum
Petroleum and coal products manufacturing
Other
Manufacturing
Sales
Net
income
Millions of dollars
Thousands of acres
WIN* t / U W » » U > l > £
Miscellaneous plastics products...
Stone clay and glass products
Transportation equipment
Motor vehicles and equipment ..
Other transportation equipment
Instruments and related products
Other
•
.
.
. . . . . . . . ..... .. .. . ...
. . ..
Wholesale trade
Electrical soods
'
Machinery equipment and supplies
Other durable goods
Groceries and related products
Farm-product raw materials
Other nondurable goods
.
.
.. . .. .< ..
<
Retail trade
General merchandise stores
Aooarel and accessory stores
Other
Finance, except banking
Insurance
.
Services
Other industries
Agriculture forestry and fishing
.
,
.
Coal
Other
P
n.a. Not available.
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000 or 500 acres.
D
1,586
1,586
6
1,580
0
15,508
11,566
5,205
27
8
(D)
14,022
4,308
1
(0
)
(
19
2
11
6
W
o
D
0
0
0
672
0
(D)
(*)
(D)
n.a.
n.a.
(*)
6,361
3,942
943
3,364
9,714
1,862
3,644
4,360
1,069
2,054
1,236
332
0
0
0
0
(*)
8,326
3,900
3,456
444
1,517
867
116
70
188
420
n.a.
n.a.
23
174
459
951
903
47
147
121
425
12
n.a.
41
3
n.a.
n.a.
4
39
296
602
0
n.a.
(D)
0
n.a.
n.a.
0
9
540
20,789
2,462
33,727
6,613
n.a.
1,809
1,080
n.a.
127
401
n.a.
n.a.
76
88
257
3,142
n.a.
561.1
n.a.
n.a.
n.a.
n.a.
(°)
n.a.
n.a.
n.a.
n.a.
0
n.a.
n.a.
n.a.
n.a.
13,674
n.a.
n.a.
n.a.
n.a.
1,671
n.a.
n.a.
n.a.
n.a.
374
n.a.
n.a.
n.a.
n.a.
1,710
n.a.
n.a.
n.a.
n.a.
56.4
(D)
(D)
3,982
1,312
233
(D)
(*)
4,534
3,626
n.a.
n.a.
208
1,349
2,046
n.a.
n.a.
779
2,157
3,892
10,630
620
n.a.
n.a.
930
16,006
1,091
n.a.
12,715
12,796
n.a.
n.a.
2,986
5,618
5,382
.
.
32,281
2,397
2,025
74.0
15
0
3,083
402
0
66,727
11,581
-644
793
32.1
2,468
207
52,730
5,058
4
(D)
18,569
2,923
5,595
733
4,863
1,194
4,557
1,013
630
2,656
.
Computer and data processing services
Other business services
Motion pictures including television tape and film
Engineering, architectural, and surveying services
Accounting research management, and related services
Health services .
Other services
1,077
90,078
.
Real estate
1
1,238
6,657
11,963
1,751
5,014
615
4,399
398
1,990
699
683
1,429
-249
70
-14
-3
-11
-23
-243
-75
8
29
4,132
603
1,621
311
1,310
85
696
372
358
397
223.5
35.4
108.9
7.3
101.6
(D)
(D)
11.3
21.9
18.4
51
6
3
(*)
(D)
0
1
0
9,529
2,622
(*)
<°)
g
1
(°)
(D0)
1,104
224
271
39
233
56
24
25
24
480
167
0
D
(D)
()
28
(*)
110
2
0
(D)
114
3
70
(*)
70
1
26
1
6
6
25^04
2,804
11,676
8,202
3,474
3,255
4,790
2,781
19,834
1,106
5,627
4,051
1,577
6,456
5,061
1,583
-791
-120
-273
-189
-83
-112
-68
-219
5,239
186
1,178
832
346
1,632
1,857
386
153.4
11.2
26.0
16.0
10.0
42.1
57.0
17.0
3,691
2,800
685
343
342
23
173
10
5,930
1,468
211
584
450
134
153
197
323
1,086
79
924
645
278
77
7
1
D
(D)
()
274
137
137
120
14
29
1
0
0
0
91
5,335
3,988
1,346
0
(D)
(D)
1,837
186
1,651
560
2,301
333
494
1,382
21,146
2,345
11,041
8,010
3,031
1,260
4,163
2,337
119
SURVEY OF CURRENT BUSINESS
July 1989
Table 3.—Selected Data of Nonbank U.S. Affiliates, by Industry of Affiliate, 1987
Millions of dollars
Total
assets
Sales
Net
income
Millions of dollars
Thousands of acres
Employee
compensation
Thousands
of
employees
Mineral
rights
owned and
leased
, Land
owned
Gross property, plant, and
equipment
Of which:
Total
Manufacturing l
Commercial
property 2
U.S.
U.S.
Expendimerchanmerchantures for
dise
new plant dise exports
imports
and
shipped by shipped to
affiliates
equipment
affiliates
926,042
731,392
9,859
93,652
3,159.7
13,829
42,531
346,212
124,803
90,886
31,598
47,929
140,617
80,129
58,352
21,778
74,494
41,641
32,853
1,314
1,758
-444
4,903
3,595
1,308
116.6
85.8
30.8
967
308
658
25,732
16,802
8,930
85,937
64,682
21,255
13,841
11,157
2,684
3,331
2,955
376
4,166
3,097
1,069
1,238
735
504
8,981
4,781
4,200
218,413
23,031
12,363
10,668
75,552
50,808
10,510
9,196
5,038
22,795
14,975
6,128
8,847
7,820
32,292
12,171
4,147
8,024
20,121
8,375
4,130
7,616
64,742
2,998
1,625
6,027
10,521
2,708
7,813
2,538
3,337
15,016
7,412
5,079
2,333
7,652
7,616
220,702
22,424
5,955
16,470
70,238
45,239
11,154
9,074
4,770
27,138
18,259
8,623
9,636
8,879
38,791
13,087
4,134
8,953
25,704
12,886
3,820
8,997
62,112
2,896
1,670
6,350
9,049
1,493
7,557
2,929
3,617
12,075
8,253
5,569
2,685
6,802
8,470
4,941
394
284
110
3,305
2,703
316
233
54
172
578
164
414
-406
-473
-41
-11
-30
-432
67
-203
-295
1,543
129
18
343
-366
-12
-354
-22
136
612
144
4
140
-1
549
49,946
3,788
1,000
2,788
14,940
9,686
2,709
1,498
1,047
5,689
3,179
1,721
1,458
2,510
10,431
3,842
1,587
2,255
6,589
2,982
1,181
2,426
15,098
111
287
1,450
2,540
383
2,157
688
801
2,920
1,826
1,195
631
2,026
1,782
1,517.5
146.3
38.6
107.7
386.5
249.7
70.6
37.3
28.9
157.2
82.2
41.0
41.2
75.0
321.6
104.2
35.6
68.5
217.4
93.3
41.3
82.8
505.9
37.0
13.6
44.7
82.3
16.7
65.5
20.5
27.7
85.9
54.8
34.3
20.5
63.4
76.2
6,004
50
20
30
823
779
22
5
16
251
237
57
179
15
25
12
1
12
12
4
3
5
4,855
12
2,875
1,297
6
3
3
D
(D)
()
363
8
7
1
6
5
10,476
5
(*)
126,908
7,881
2,460
5,421
54,195
42,935
5,754
2,967
2,540
15,288
11,046
6,022
5,025
4,241
14,357
5,036
1,975
3,061
9,321
3,718
2,738
2,865
35,187
1,374
1,131
4,405
3,753
575
3,177
1,264
2,053
10,609
3,706
3,042
664
3,386
3,506
101,731
6,176
1,743
4,434
40,684
31,828
4,064
2,334
2,457
13,448
10,117
5,906
4,211
3,331
12,156
3,932
1,308
2,624
8,224
3,252
2,633
2,339
29,266
1,116
422
4,175
3,385
571
2,813
1,126
1,819
9,674
3,097
2,711
386
2,173
2,279
7,571
1,015
(D)
(D)
2,764
1,055
1,236
434
39
354
(D)
79
(D)
(D)
808
442
(D)
(D)
366
192
41
133
2,630
109
10
119
222
1
221
(D)
138
336
404
(D)
(D)
206
(D)
12,984
711
218
493
4,697
3,438
635
363
260
1,437
994
612
382
443
2,034
760
402
358
1,274
503
324
447
4,106
171
82
253
400
33
367
113
217
629
1,577
1,501
77
288
376
14,890
514
46
468
6,768
5,515
736
171
346
1,475
1,030
155
875
445
3,100
1,247
544
703
1,853
714
308
832
3,032
58
111
385
166
(D)
(D)
122
168
143
683
356
326
573
624
23,420
1,658
747
910
5,104
3,464
1,151
196
293
3,856
3,002
780
2,223
854
6,735
2,809
818
1,991
3,926
2,218
390
1,319
6,068
251
222
218
114
0
114
735
205
564
2,213
1,524
689
855
690
Wholesale trade
. .
Motor vehicles and equipment
Professional and commercial equipment and supplies
Metals and minerals except petroleum
Electrical goods
Machinery, equipment, and supplies
Other durable goods
Groceries and related products
Farm-product raw materials
Other nondurable goods
97,382
27,692
4,834
15,330
11,411
9,043
8,480
3,582
5,978
11,031
273,887
84,984
9,046
56,858
22,769
10,373
29,759
12,927
28,721
18,450
395
652
-50
29
-68
-183
-29
54
45
-55
10,536
2,822
1,027
926
1,450
1,134
763
575
499
1,339
313.7
71.7
28.5
24.4
47.2
32.9
26.8
23.3
19.1
39.7
602
13
1
45
3
27
4
(D)
37
(D)
652
0
21,851
7,401
921
1,968
2,115
1,487
991
975
1,834
4,160
8,365
4,307
20
633
828
202
170
65
(D)
(D)
6,369
2,064
421
458
631
627
396
527
615
630
2,657
1,170
197
218
314
167
130
87
68
305
29,472
2,914
161
11,850
944
1,015
562
1,292
9,711
1,022
105,323
49,831
5,700
14,924
14,898
4,662
2,977
3,243
3,544
5,544
Retail trade
General merchandise stores
Food stores
Apparel and accessory stores
Other
27,303
7,429
7,854
3,591
8,429
47,193
7,331
22,066
4,678
13,118
-102
-144
80
-69
30
7,363
1,362
2,770
901
2,330
567.4
86.6
217.7
82.2
180.9
<°>
«
(D)
0
D0
11
()
(*)
13,527
3,143
4,922
1,347
4,116
97
0
5
(D)
(D)
8,406
3,131
2,751
327
2,197
1,682
320
758
162
442
992
7
9
2
975
2,290
223
106
357
1,605
Finance, except banking
269,641
26,465
2,657
6,833
87.0
65
12
4,827
(°)
1,645
1,010
1
35
Insurance
110,089
39,106
1,891
2,758
87.2
14
0
3,411
0
2,393
415
0
(*)
Real estate
65,008
10,538
-652
1,891
285
53,812
(D)
48,245
4,278
(*)
7
Services
Hotels and other lodging places
Business services..
Computer and data processing services
Other business services
Motion pictures, including television tape and film
Engineering, architectural, and surveying services
Accounting, research, management, and related
services
Health services
Other services
29,483
6,267
9,454
1,840
7,614
5,454
4,539
18,001
2,373
9,086
1,454
7,632
2,418
1,720
-592
-40
-75
41
-117
-63
-375
D
14,019
5,023
3,325
869
2,456
1,189
(D)
15
(D)
6
1
5
0
0
8,111
4,412
1,300
537
763
851
319
2,291
1,047
599
211
388
116
64
199
0
71
20
52
4
93
84
1
40
1
39
3
20
624
664
2,481
568
743
1,092
302
516
(D)
(D)
1
0
229
507
494
41
26
398
6
0
24
1
6
13
Other industries
A°riculture, forestry, and fishing
Mining
Coal
Other
Construction
Transportation
Communication and public utilities
28,594
2,770
12,277
5,874
6,403
3,841
5,549
4,157
21,005
1,047
5,558
3,061
2,497
6,675
5,799
1,927
733
(D)
499
4,816
1,535
173
53
120
427
1,491
1,190
2,115
149
803
364
439
348
399
416
1,136
65
972
. 447
525
93
5
1
476
24
328
178
150
79
(D)
(D)
AH industries
Petroleum
Petroleum and coal products manufacturing
Other
Manufacturing
..
,
Food and kindred products
.
Beverages
Other
Chemicals and allied products
Industrial chemicals and synthetics.
Drugs
.
. . . .
Soap, cleaners, and toilet goods
Other
Primary and fabricated metals
Primary metal industries
Ferrous
Nonferrous
Fabricated metal products
Machinery
Office and computing machines
Other
Electric and electronic equipment
Audio, video, and communications equipment
Electronic components and accessories
Other
Other manufacturing
Textile products and apparel
Lumber, wood, furniture, and fixtures
Paper and allied products
Printing and publishing
Newspapers
.
.
.
Other .
.
.
.
Rubber products
.
.
Miscellaneous plastics products
,
Stone, clay, and glass products
Transportation equipment
.
Motor vehicles and equipment....
Other transportation equipment
Instruments and related products
D
802
32.0
5,167
820
2,560
430
2,130
(D)
485
267.1
50.7
144.4
12.1
132.2
(D)
11.9
93
32
4
(*)
4
1
(D)
-21
12
-30
237
386
(D)
6.5
23.0
(D)
5
1
(D)
7
-78
373
-31
404
-122
-13
-152
5,344
222
1,144
648
496
1,634
1,988
356
171.3
14.1
26.0
13.0
13.0
39.6
67.9
23.7
(D)
2,546
926
280
646
33
131
(D)
.
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000 or 500 acres.
1. See footnote 1 to table 1.
2. Consists of the gross book value of all commercial buildings and associated land owned by the affiliate
that is either used or operated by the affiliate or leased or rented to others. Commercial buildings include
apartment buildings, office buildings, hotels, motels, and buildings used for wholesale, retail, and services
trades (such as shopping centers, recreational facilities, department stores, bank buildings, restaurants, public
garages, and automobile service stations).
(D)
(D)
0
0
(*)
725
725
9
716
0
5
(*)
0
(")
0
5
(*)
D
()
(*)
(
3
(D)
0
(D)
434
0
0
0
„
8
(
1
„
9
(D)
()
0
(*)
(*)
(*)
D0
()
1
0
(D)
4435
2
3,915
2,268
1,647
(*)
O
(D)
21,921
2,226
10,240
5,513
4,726
1,426
4,679
3,350
8
()
D
6
0
SURVEY OF CURRENT BUSINESS
120
July 1989
Table 4.—Selected Data of Nonbank U.S. Affiliates, by Country and Industry of Ultimate Beneficial Owner, 1986
Thousands of acres
Millions of dollars
Total
assets
838,039
All countries, all industries
Sales
672,004
Net
income
2,458
Employee
compensation
86,492
Thousands
of
employees
Millions of dollars
Mineral
rights
owned and
leased
Land
owned
2,937.9
13,991
52,337
Gross
property,
plant, and
equipment
Expenditures for
new plant
and
equipment
320,215
28,516
U.S.
merchandise exports
shipped by
affiliates
49,560
U.S.
merchandise
imports
shipped to
affiliates
-125,732
By country
130,073
Norway.
.
Spain .
Sweden.
Switzerland
United Kingdom
Other
*
Latin America and Other Western Hemisphere
South and Central America
Brazil
Mexico
Panama
Venezuela .
. . .
Other
.
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
United Kingdom Islands Caribbean
Other
Africa .
South Africa
Other .
. .
.
.
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
Hons Konc
Japan
Malaysia
New Zealand
Philippines
.
.
.
.
>
,
.
. .
.
.
.
South Korea
Taiwan
Other
.
United States
Addenda:
European Communities (12) l
OPEC2
,
7,139
20,577
44,362
1,992
11,585
1,938
1,141
41,919
(*)
608
-90
5
-186
112
2,753
405
246
6,194
3.9
52.5
25.4
8.2
177.9
41
132
7
3
1,315
(D)
(D)
0
0
2,031
270
5,101
767
663
18,040
44
489
60
45
1,332
72
101
54
26
9,565
973
909
346
115
4,391
62,811
3,186
4,034
3,516
1,392
44,805
-27
-35
-119
6
^9
1,136
9,455
859
390
604
220
6,762
312.4
25.1
10.6
27.7
8.0
242.4
667
(D)
63
615
16
439
23,391
2,340
2,436
1,353
655
46,117
2,920
80
228
142
64
3,095
2,588
11
588
11
154
1,272
14,359
51
834
71
450
3,608
920
440
14,413
35,886
115,342
1,422
-11
7
152
396
1,059
73
146
40
2,215
6,035
16,550
73
4.2
2.0
74.0
183.0
622.9
2.9
6
(D)
14
982
3,435
98
861
55
(D)
0
(D)
(D)
17
0
(D)
459
7,563
0
368
136
3,193
13,369
59,684
570
26
21
325
1,131
4,788
85
40
(*)
657
2,329
3,042
66
204
80
3,743
3,472
10,119
637
21,999
-2,174
3,449
128.0
976
3,899
11,233
945
1,245
4,063
13,082
487
1,423
4,022
5,372
1,779
-97
50
-48
-101
34
-33
1,721
28
134
1,253
192
114
50.0
.8
4.8
34.1
5.2
5.1
729
8
277
257
96
91
193
0
(D)
121
(D)
0
5,421
70
1,071
2,704
925
652
502
10
152
204
73
62
636
44
56
311
35
191
8,916
1,052
4,727
2,879
226
33
-2,078
-71
70
-2,067
-11
(*)
1,728
202
439
1,027
50
10
77.9
5.0
45.1
25.0
2.5
.3
247
24
57
130
33
3
3,706
(*)
3,700
(*)
443
44
107
267
22
3
609
(D)
32
(D)
0
5,812
533
1,279
3,714
264
22
(*)
2,706
107
638
613
(D)
(D)
1,357
(D)
(D)
(D)
21
9
20,853
18,110
2,742
55
624
-569
1,689
1,298
391
26.7
19.3
7.4
123
67
56
3,483
1,506
1,977
8,099
2,470
5,629
605
355
250
520
508
12
2,217
2,200
17
26,617
1,470
9,840
1,193
12,279
787
1,047
7,648
604
2,015
650
3,363
163
853
-315
-28
-172
-91
-8
-23
7
1,612
66
367
188
712
22
257
39.5
2.5
11.0
6.1
10.3
1.0
8.5
540
1
383
27
116
3
9
(D)
0
(D)
(*)
9
0
0
12,779
130
6,893
658
3,803
799
497
916
24
284
35
499
33
41
380
96
(D)
50
99
4
(D)
262
198
27
3
27
1
7
125,972
15,069
7,207
98,098
264
620
378
477
3,075
546
238
. . . . . . . .
. . .
.
.
4,372
14,874
182,752
7,740
2,484
166,575
369
590
125
75
4,341
408
45
-84
-48
-105
96
-3
5
-29
-1
-13
16
-2
9,640
1,934
450
6,855
(D)
101
8
5
158
321.7
65.6
18.1
220.8
(D)
6.6
.3
.2
5.1
<2
2,931
2,846
(D)
59
0
0
0
0
(D)
(*)
0
35,274
7,444
2,704
22,964
134
260
329
423
408
411
196
5,135
509
363
3,925
7
70
16
78
109
(D)
(D)
22,147
185
53
21,260
2
533
237
113
116
17
2
5
34
2
2
5
3
609
7
D
( )
67,620
379
343
63,802
56
171
33
2
2,801
27
7
18,054
. . .
. 5,842
178,453
80,349
(D)
(D)
»
72,757
25,117
8,845
839
4,367
3,188
420
31
,
15,786
8,976
933
352
11,086
76,656
137,378
1,214
,
2,817
1,783.2
10,806
1,428
1,628
3,899
2,042
1,810
Germany, Federal Republic of
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
609.2
53,057
50,186
2,574
4,663
2,085
(D)
67,676
..
16,295
2,923
19,651
Austria
Belgium
Denmark .
Finland
France
1,164
346,741
833
(D)
1,359
1,340
32,857
. .
.
83,590
437,324
Canada
Europe . . .
8,421
890
751
29.7
26
(D)
1,620
199
319
69
343,927
30,573
287,703
14,527
2,377
-728
43,640
1,671
1,479.8
36.5
7,311
620
24,515
(D)
159,132
18,060
13,149
1,120
17,376
236
35,151
1,159
74,907
92,684
68,058
966
83,993
4,785
192,130
10,834
33,145
39,800
54,056
147,296
25,218
10,165
30,007
75,689
44,712
5,098
23,499
5,765
234,553
9,130
126,213
23,886
50,020
29,619
6,290
7,523
-475
646
-75
9
679
-82
2,357
-448
458
221
-2,388
1,739
-90
-94
6,212
9,209
4,492
168
2,483
1,171
38,279
2,774
4,518
849
10,791
3,148
716
1,682
114.1
427.1
103.8
6.8
54.7
35.6
1,199.0
87.0
258.5
24.0
411.1
87.3
30.8
98.1
1,575
5,800
891
867
596
41
2,592
172
29
224
713
61
411
18
5,062
1,386
29,350
(D)
3,179
(D)
25,302
40,458
72,341
370
8,278
2,291
99,279
7,639
7,802
1,535
25,209
7,078
20,062
2,572
1,356
3,796
4,299
26
675
271
10,385
819
1,332
256
2,099
1,169
1,847
187
1,983
6,431
1,101
(D)
916
30
11,775
282
19,977
22
6,037
58
(D)
303
3,835
5,773
4,776
909
2,917
75
66,062
710
36,368
169
3,680
114
61
284
1
By industry
Individuals estates and trusts
Petroleum
.
Agriculture
.
Mining
Construction
.
. . .
Manufacturing
.
Transportation communication and public utilities
Wholesale and retail trade
.
Banking
Real estate
Services
D
»
,
(D)
658
(D)
133
2,946
74
2
(D)
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000 (±) or 500 acres.
1. The European Communities (12) consists of Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, and the United Kingdom.
2. OPEC is the Organization of Petroleum Exporting Countries. Its members are Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.
SURVEY OF CURRENT BUSINESS
July 1989
121
Table 5.—Selected Data of Nonbank U.S. Affiliates, by Country and Industry of Ultimate Beneficial Owner, 1987
Total
assets
926,042
AH countries, all industries
Sales
731,392
Net
income
9,859
Millions of dollars
Thousands of acres
Millions of dollars
Employee
compensation
93,652
Thousands
of
employees
Land
owned
3,159.7
13,829
Mineral
rights
owned and
leased
42,531
Gross property, plant, and
equipment
Of which:
Total
Manufacturing '
Commercial
property2
346,212
124,803
90,886
Expenditures for
new plant
and
equipment
31,598
U.S.
merchandise exports
shipped by
affiliates
47,929
U.S.
merchandise
imports
shipped to
affiliates
140,617
By country
Canada
140,822
89,303
2,028
16,159
590.5
2,090
12,574
73,241
27,699
23,190
6,335
5,034
7,869
Europe
»
Austria
Belgium. ..
Denmark
Finland
,
467,607
771
43,992
1,412
1,343
33,983
58,540
2,630
6,799
2,381
1,595
69,958
1,042
318
11,734
73,766
156,223
1,120
387,010
1,951
13,020
2,210
1,161
43,519
72,173
3,614
5,743
3,728
1,547
52,057
1,056
456
15,422
37,644
130,450
1,260
7,128
-7
570
-108
(*)
-85
-186
110
78
-99
-25
1,251
7
9
380
726
4,548
-42
56,708
99
2,594
484
259
6,085
11,075
876
473
638
260
6,895
143
44
2,349
6,262
18,092
80
1,903.7
3.5
62.8
27.2
8.5
183.6
363.3
27.6
13.1
32.0
12.3
269.5
4.1
2.3
77.2
183.4
630.1
3.1
8,658
6
104
4
1
1,293
561
(D)
48
660
11
316
4
92
(D)
850
3,442
(D)
24,563
193,091
221
5,895
782
617
19,692
26,737
1,950
2,601
1,479
555
47,907
393
129
4,068
14,188
65,344
533
74,943
69
2,059
105
533
11,256
15,610
1,776
659
(D)
182
(D)
176
29
2,373
7,787
20,058
(D)
36,850
69
1,541
335
52
3,566
4,835
102
673
808
206
6,955
167
65
451
3,791
12,786
448
15,508
16
424
60
44
1,144
3,124
108
172
174
40
3,400
29
18
384
1,265
5,070
37
18,021
68
238
71
41
5,385
3,364
84
760
28
138
1,432
39
1
643
1,928
3,683
119
50,445
1,192
642
695
131
4,284
16,903
52
1,159
92
582
4,155
260
90
4,324
4,194
10,950
739
32,180
13,898
(D)
1,160
3,910
2,601
(D)
18,281
912
13,637
3,123
572
37
27,150
13,789
500
1,629
3,901
6,031
1,727
13,360
1,093
9,660
2,243
334
29
-424
-75
81
-77
-240
162
-2
-349
12
-58
-276
-27
(*)
3,532
1,773
52
130
1,136
353
101
1,759
108
797
788
64
2
143.6
52.8
1.7
4.1
30.2
12.5
4.4
90.7
3.1
63.0
21.9
2.6
.1
1,707
696
18
162
300
160
56
1,011
43
(D)
82
(D)
(D)
2
0
2
(*)
(*)
(*)
(D)
3,096
2,115
(D)
38
D
(D)
()
981
(D)
56
(D)
52
0
3,544
1,450
70
327
566
181
306
2,094
255
697
931
191
19
919
447
16
93
191
92
56
472
122
198
145
7
(*)
1,637
1,291
22
48
234
48
938
347
(D)
41
0
10,394
4,949
140
559
2,807
1,045
398
5,445
458
1,760
2,901
303
23
14
5,262
3,887
78
720
565
(D)
(D)
1,375
268
(D)
(D)
22
6
8,642
2,975
5,667
5,953
3,572
2,382
232
115
118
830
450
380
19.9
12.2
7.7
101
(D)
(D)
(D)
448
(D)
8,048
2,103
5,945
908
(D)
(D)
343
148
196
487
153
333
494
432
61
823
756
67
18,024
1,205
10,179
1,347
3,783
1,069
442
5,772
390
2,233
594
2,135
191
230
-823
-37
-330
-190
-239
-32
4
894
59
397
163
197
21
57
32.5
2.2
15.0
5.4
5.2
1.2
3.6
488
(*)
(D)
8
94
1
D
()
(D)
0
(D)
(*)
9
0
0
12,242
82
7,414
592
2,796
1,047
311
450
16
(D)
140
9
9
(D)
8,077
13
4,342
201
2,310
996
216
742
7
251
33
424
15
12
245
(D)
(D)
31
61
4
(D)
174
132
30
(D)
(D)
234,578
21,973
8,007
195,773
333
2,968
297
574
3,863
582
209
206,059
10,695
3,033
182,327
417
2,356
125
71
6,278
(D)
(D)
566
-44
-44
484
9
92
-21
-16
23
(D)
(D)
14,537
2,351
581
10,710
(°)
508
15
12
209
(D)
8
434.1
90.0
23.6
284.6
(D)
23.5
.7
.7
5.9
(D)
735
282
249
104
8
(D)
1,885
1,695
0
118
0
(D)
0
D0
()
(*)
0
46,866
8,825
2,127
31,325
152
2,334
292
498
720
(D)
(D)
16,342
1,990
330
12,169
(D)
952
19
15
438
(D)
18,316
1,475
1,413
13,462
95
962
232
397
108
52
119
7,299
874
208
5,589
13
135
15
134
302
(D)
(D)
22,353
215
35
20,838
5
41
8
5
1,069
D
(D)
()
75,973
485
407
71,092
54
171
16
10
3,697
D
(D)
( )
24,189
10,145
1,150
993
35.5
51
12
2,329
1,366
566
308
146
71
376,065
23,003
324,942
13,404
6,113
-311
46,900
1,289
1,592.7
41.7
7,004
646
23,976
2,905
172,016
17,854
63,583
849
31,460
7,927
13,590
964
15,157
974
39,513
2,308
35,809
98,850
70,724
717
14,331
6,027
246,421
15,853
40,709
119,481
11,890
219,433
29,711
16,083
27,408
82,821
51,954
2,083
10,982
7,058
294,047
11,808
132,344
33,337
12,091
47,018
5,943
12,497
-216
418
3,635
48
1,107
-31
3,627
-158
89
350
(*)
1,090
-52
-50
3,855
9,307
4,883
114
1,765
1,519
46,557
3,519
5,737
3,109
2,619
6,685
788
3,194
102.2
466.2
118.6
6.1
50.2
40.3
1,438.7
105.7
327.9
29.8
90.8
169.2
37.6
176.4
1,564
5,961
604
95
808
(D)
2,994
199
202
189
409
141
297
(D)
4,809
1,341
20,642
17
3,431
37
(D)
704
444
122
106
62
(D)
(D)
25,326
42,174
75,314
430
9,323
3,090
122,790
11,309
10,208
1,576
5,567
10,394
24,010
4,701
5,409
6,515
12,978
19
4,134
715
88,571
1,693
937
21
2,273
1,150
10
378
7,119
24,383
3,495
268
342
1,269
10,865
4,319
5,423
623
1,988
6,140
22,530
2,123
1,462
3,876
3,587
33
817
613
13,626
1,124
1,344
265
496
853
2,803
698
1,368
5,747
1,167
252
1,042
61
15,164
486
21,632
5
734
130
0
141
4,599
7,518
5,246
(D)
1,728
70
85,291
888
32,982
69
1,451
403
6
(D)
.
*
Germany, Federal Republic of
Ireland
.
4
Italy
Liechtenstein
. . ..
Luxemboura
>.
.
Netherlands
4
.
. .
Norway .
Spain
. .
Sweden
. ..
.
United Kingdom.
Other
. .
....
.
.
. ..
. . . . .
.
Latin America and Other Western Hemisphere
South and Central America
.
.
Brazil
.
. »
Mexico
*
»
. . . . .
Panama
. .
Other
Other Western Hemisphere
.
.
Netherlands Antilles
United Kingdom Islands Caribbean
Other
.
.
.
Africa
South Africa
Other
Middle East
Israel . .
Kuwait
4
Lebanon
.
Saudi Arabia
..
United Arab Emirates
Other
Asia and Pacific
*
4
4
Hong Kon°
Malaysia
New Zealand
Philiooines
Singapore .
South Korea
Taiwan
Other
United States .....4
.
.
.
»
t
....
•
.
.
..
.
Addenda:
European Communities (12) 3
OPEC 4
,
...
.
29
2
6
(D)
(D)
711
3
(D)
2,478
865
54
(D)
(*)
21
(D)
0
0
125
415
6,236
0
%
„
o
0
By industry
Individuals estates and trusts .
Petroleum
» . 4. 4 « .
Mining
.
Construction-.
. .
.
....4.
Transportation, communication, and public utilities
Wholesale and retail trade
,
Banking
Holding companies . .
Other finance and insurance .
Real estate
• • ..
.44
Services
.
.
.....
D
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000 (±) or 500 acres.
1. See footnote 1 to table 1.
2. See footnote 2 to table 3.
3. See footnote 1 to table 4.
4. See footnote 2 to table 4.
SURVEY OF CURRENT BUSINESS
122
Text continues from p. 117.
The data in this article, like the
estimates in earlier articles based on
data from BEA's annual surveys of foreign direct investment, cover the financial structure and operations of nonbank U.S. affiliates. Data collected in
the benchmark survey on banks and
on transactions and positions between
U.S. affiliates and their foreign parents
will be available next year when final
results of the benchmark survey are
published.3
3. The data on financial structure and operations of
U.S. affiliates cover the affiliates' overall operations.
They include data on U.S. affiliates' balance sheets;
income statements; external financial position; property, plant, and equipment; employment and employee
compensation; U.S. merchandise trade; technology; and
July 1989
The concepts and definitions underlying the 1987 benchmark survey data
are essentially the same as those used
for BEA's annual surveys and for the
1980 benchmark survey. For most
items, the 1987 benchmark survey
data are comparable to estimates derived from the annual surveys for earlier years; the few differences are discussed in the technical note. Changes
in the presentation of the data and in
U.S. land owned and leased. The data on transactions
and positions between U.S. affiliates and their foreign
parents are the source of the official estimates of direct
investment that enter the U.S. international transactions accounts and the U.S. international investment
position. These estimates cover the foreign direct investment position in the United States, direct investment capital flows between foreign parents and their
U.S. affiliates, payments of income by U.S. affiliates to
their foreign parents, and royalties and license fees and
other services transactions between U.S. affiliates and
their foreign parents.
Table 6.—Sales of Goods and Services by Nonbank U.S. Affiliates, by Industry of Affiliate and Country of
Ultimate Beneficial Owner, 1987
[Millions of dollars]
Services
To foreign persons
Total
Goods
Total
731,392
AH industries, all countries
621,848
To U.S.
persons
Total.
To
foreign
affiliates
To the
foreign
parent
group
To
other
foreign*
ers
90,764
87,256
3,508
1,492
229
Investment
income '
1,787
18,780
By industry
74,494
71,558
2,930
2,418
512
209
127
176
6
216,427
22,038
69,175
26,646
37,819
60,749
4,204
383
1,063
490
964
1,303
3,950
381
1,014
454
827
1,273
254
2
49
36
137
30
194
(*)
25
30
133
6
24
2
19
0
2
2
35
Other manufacturing
220,702
22,424
70,238
27,138
38,791
62,112
22
72
3
0
2
7
60
Wholesale trade
Retail trade
Finance, except banking
Insurance
Real estate
273,887
47,193
26,465
39,106
10,538
272,764
46,823
59
130
95
957
361
13,925
32,988
10,408
837
348
12,951
32,798
10,394
120
13
974
190
14
112
13
373
94
4
5
0
2
3
0
3
(*)
599
93
10
166
8
12,481
5,987
35
18,001
2,373
9,086
1,454
7,632
1,126
106
277
7
270
16,861
2,261
8,802
1,447
7,355
15,989
2,168
8,616
1,387
7,228
873
93
186
59
127
444
36
137
37
99
67
0
0
0
0
362
56
50
22
28
14
7
7
0
7
Petroleum
Manufacturing
Chemicals and allied products
Primary and fabricated metals
.
.
Services
Hotels and other lodging places
Business services
Computer and data processing services
Other business services
Motion pictures, including television tape and
film
,
Engineering, architectural, and surveying
services
.. .
Accounting, research, management, and related
services
Health services
Other services
1
3
(D)
(D)
30
6
0
24
0
118
1,603
1,103
500
225
67
208
0
568
743
1,092
9
40
(D)
559
703
(D)
531
695
(D)
28
9
27
18
5
17
0
0
0
11
3
10
0
0
0
21,005
1,047
5,558
6,675
5,799
1,927
12,866
1,030
5,419
6,285
48
84
8,129
17
140
389
5,751
1,832
7,571
16
139
369
5,258
1,789
559
(*)
21
493
43
49
(*)
(*)
41
5
(*)
0
(*)
0
0
0
509
(*)
(*)
19
451
38
68,018
334,228
18,382
43,814
17,864
42,107
518
1,707
107
782
144
13
266
912
2,903
8,968
43,519
72,173
52,057
37,644
130,450
,
(D)
1,720
89,303
387,010
Agriculture, forestry, and fishing
Mining
Construction
Transportation
Communication and public utilities. .
2,418
40,889
68,004
45,483
27,678
107,518
2,313
3,689
5,679
7,061
20,256
2,204
3,411
5,556
6,911
19,539
109
278
123
150
717
58
212
16
113
282
(*)
1
0
0
7
51
65
107
37
429
317
480
895
2,904
2,676
27,150
5,953
5,772
206,059
10,695
182,327
22,935
5,502
2,400
186,060
6,820
167,697
3,064
426
(D)
15,776
3,779
10,984
2,952
D
(D)
()
15,180
3,610
10,625
112
(D)
544
596
168
360
63
(*)
(D)
265
19
201
3
0
67
2
1
0
47
(D)
(D)
330
148
159
1,150
26
(D)
4,224
96
3,646
10,145
2,705
(D)
CO
(D)
(D)
0
(D)
(D)
11
(*)
0
0
0
10
By country
Canada .
. .
Europe
Of which:
France
Germany Federal Republic of . . .
Netherlands.
....
Switzerland
United Kingdom
Latin America and Other Western Hemisphere
Africa
Middle East
Asia and Pacific
Of which: Australia
Japan
.
.
United States
D
.
,
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
1. Includes only investment income included in sales (or gross operating revenues). See text.
the coverage and methodology of the
benchmark survey are also discussed
in the technical note.
The remainder of this article first
analyzes information from the benchmark survey that either has not been
available before or has not been available since the previous benchmark survey in 1980, then reviews changes in
affiliate employment, and finally discusses the share of the U.S. economy
accounted for by U.S. affiliates in 1987.
More detailed results of the benchmark survey and the annual surveys
for prior years are available in separate publications (see page 140).
Expansion of Information
Some data items were collected for
the first time in the 1987 benchmark
survey, Other items were collected in
previous benchmark surveys, but not
in the annual surveys for nonbenchmark years. This section discusses
some of the new information—that is,
affiliates' sales of goods and of services, sales of services to U.S. persons
and to affiliated or unaffiliated foreigners, and manufacturing employment
by State. It also discusses information that has not been available since
the 1980 benchmark survey—that is,
employment by industry of sales, commercial property of affiliates, and U.S.
merchandise trade by destination or
origin and by product.
Sales of services
The 1987 benchmark survey collected, for the first time, affiliates'
sales (or gross operating revenues) disaggregated into goods, services, and
investment income and sales of services further disaggregated into those
to U.S. persons or to affiliated or unaffiliated foreigners.4 The data were col4. Future annual surveys will also collect this information.
For purposes of distributing sales into goods, services, and investment income, "services" are denned as
activities characteristic of the following industries: The
"services" division of the Standard Industrial Classification (and BEA's international surveys industry (ISI)
classification) system, petroleum services, finance (except banking), insurance, real estate, agricultural services, mining services, transportation, communications,
and public utilities. An affiliate need not be classified
in one of these industries to have sales of services. For
example, sales of services by affiliates classified in manufacturing were almost $4 billion.
Information on investment income was collected primarily to ensure that, if such factor income was included in total sales (or gross operating revenues), it
would not be included in sales of services. In finance
and insurance, affiliates include investment income in
sales because it is generated by a primary activity of
the affiliate. In most other industries, affiliates consider investment income an incidental revenue source
and include it in the income statement in a separate
"other income" category.
SURVEY OF CURRENT BUSINESS
July 1989
lected as part of a broader BEA dataimprovement effort for services.
In 1987, of U.S. affiliates' total sales
of $731 billion, goods accounted for
$622 billion, services for $91 billion,
and investment income for $19 billion
(table 6). Of total sales of services,
$87 billion, or 96 percent, were to U.S.
persons and $4 billion were to foreigners. Most sales of services to foreigners
were either to the foreign parent group
or to "other" foreigners ($1 billion and
$2 billion, respectively); sales to foreign affiliates of U.S. affiliates were
small.5
By industry, over one-third ($33 billion) of affiliates' total sales of services
were by affiliates in insurance. Affiliates in "services" and finance (except
banking) also had substantial sales of
services—$17 billion and $14 billion,
5. The foreign parent group consists of (1) the foreign parent, (2) any foreign person, proceeding up the
foreign parent's ownership chain, that owns more than
50 percent of the person below it, up to and including
the UBO, and (3) any foreign person, proceeding down
the ownership chain(s) of each of these members, that
is owned more than 50 percent by the person above it.
A foreign affiliate is a foreign business in which the U.S
affiliate has a 10-percent or more ownership interest,
123
respectively. In "services," over onehalf ($9 billion) of the total was by affiliates in business services, particularly
advertising.
By country of UBO, sales of services by affiliates with UBO's in the
United Kingdom, at $20 billion, and in
Canada, at $18 billion, were largest—
almost twice those by affiliates with
UBO's in Japan, which ranked third.
For affiliates with UBO's in the United
Kingdom, sales of services were largest
in insurance and business services.
For those with UBO's in Canada, sales
of services were largest in insurance.
For affiliates with UBO's in Japan,
they were largest in finance (except
banking).
sales and employment—data from the
benchmark survey are also available
by "industry of sales." On this basis,
sales and the associated employment
in secondary industries are shown in
those industries rather than in the affiliate's primary industry.6
Table 7 compares employment by industry of sales with employment by
Employment by industry of sales
In most tables by industry in this article, classification is by "industry of affiliate." On this basis, the affiliate's
primary industry—that is, the industry that accounts for the largest portion
of the affiliate's sales—is determined,
and all data are shown in that industry even if the affiliate has activities in
secondary industries. For two items—
6. Both employment and sales were required to be
disaggregated by BEA's ISI classification system. In
general, the detail in the ISI classification is roughly
equivalent to the three-digit level in the Standard Industrial Classification system.
Employment and sales disaggregated by industry of
sales were collected in the 1980 benchmark survey, but
not in the annual surveys. Future annual surveys, however, will collect these data.
Affiliate employment classified by industry of sales
should approximate that classified by industry of establishment (plant). This is because an affiliate that has an
establishment in an industry usually also, has sales in
that industry. However, if one establishment of an affiliate provides all of its output to another establishment
of the affiliate, the affiliate will not have sales in the
industry of the first establishment. For example, if an
affiliate operates both a metal mine and a metal manufacturing plant and if the entire output of the mine is
used by the manufacturing plant, all of the affiliate's
sales will be in metal manufacturing and none in metal
mining. When the mining employees are distributed by
industry of sales, they would be classified in manufacturing. When the mining employees are distributed by
industry of establishment, they would be in mining, not
in manufacturing.
Table 7.—Employment by Nonbank U.S. Affiliates, by Industry of Sales and by Industry of Affiliate, 1987
Thousands of employees
By
industry of
sales
3,159.7 3,159.7
AH industries
Other
Manufacturing
Food and kindred products
.
Beverages
Other
Chemicals and allied products
.
Industrial chemicals and synthetics
„ ° .
, .. \ . "
Other manufacturing
Textile products and apparel
Lumber, wood, furniture, and fixtures
Paper and allied products
.
Printing and publishing
»
Newspapers
..
.
Other
Rubber products
Other transportation equipment
Instruments and related products
Other
D
0
-20.5
-21.9
1.4
-18
-26
5
-182.2
-3.6
-12.5
8.8
-145.9
-129.5
-21.0
-14.4
19.0
-13.0
5.0
9.6
-4.6
-18.0
-9.8
14.1
-6.3
20.4
-23.9
-21.7
10.3
-12.5
-12
-2
-32
8
-38
-52
-30
-39
66
.'.
.
. . . .
..
-3
14
-18
30
-11
-23
25
-15
-9.8
-.6
9.7
-.8
-5.6
3.1
-8.7
2.1
3.7
-13.5
10.3
20.8
-10.4
10.3
-25.5
-2
-2
71
-2
-7
19
-13
10
13
-16
19
61
-51
16
-33
..
496.1
36.4
23.3
43.9
76.7
19.8
56.8
22.6
31.4
72.4
65.1
55.1
10.1
73.7
50.7
505.9
37.0
13.6
44.7
82.3
16.7
65.5
20.5
27.7
85.9
54.8
34.3
20.5
63.4
76.2
-8
6
23
-11
-24
Suppressed to avoid disclosure of data of individual companies.
1. In the breakdown of sales by industry of sales, U.S. affiliates that filed the long form in the benchmark
Percent
difference
By
industry of
sales
By
industry of
affiliate
Difference
271.5
43.4
32.3
12.9
43.4
38.4
25.8
20.8
15.3
39.1
313.7
71.7
28.5
24.4
47.2
32.9
26.8
23.3
19.1
39.7
-42.2
-28.3
3.8
-11.5
-3.8
5.5
-1.0
-2.5
-3.8
-.6
-13
-39
13
-47
-8
17
-4
-11
-20
-2
617.2
124.3
229.8
81.2
181.9
567.4
86.6
217.7
82.2
180.9
49.8
37.7
12.1
-1.0
1.0
9
44
6
-1
1
0
116.6
85.8
30.8
96.1
63.9
32.2
Other
Primary and fabricated metals
Primary metal industries
.
Ferrous
Nonferrous .
.
Fabricated metal products .
.. .
Machinery
Machinery, except electrical
Office and computing machines
Other
1
Electric and electronic equipment
Audio, video, and communications equipment
Electronic components and accessories
Other
Difference
Thousands of employees
Percent
difference
1,335.3 1,517.5
142.7
146.3
26.1
38.6
116.5
107.7
240.6
386.5
120.2
249.7
49.6
70.6
22.9
37.3
47.9
28.9
144.2
157.2
87.2
82.2
50.6
41.0
36.6
41.2
57.0
75.0
311.8
321.6
118.3
104.2
29.3
35.6
88.9
68.5
217.4
193.5
71.6
93.3
51.6
41.3
70.3
82.8
Petroleum
Stone, clay, and glass products
Transportation equipment
By
industry of
affiliate
Wholesale trade.
Motor vehicles and equipment
Professional and commercial equipment and supplies
Metals and minerals except petroleum
Electrical goods
Machinery, equipment, and supplies
uurao e gooas ..........
_
.
". .
Other nondurable goods
Retail trade
General merchandise stores.. .,
Food stores
Apparel and accessory stores
Other
,
80.7
Insurance
...
Services
Business services ..
.
Computer and data processing services .
Other business services
,
Motion pictures, including television tape and film
Engineering, architectural, and surveying services
Accounting, research, management, and related services
Other services
Other industries
Agriculture, forestry, and
fishing
Mining
Coal
Other
Construction
Transportation
'
Communication and public utilities
Unspecified1
..
-6.3
-7
87.2
-7.7
-9
31.5
Real estate
87.0
79.5
.
32.0
-.5
-2
305.2
51.9
155.8
20.0
135.7
12.2
15.0
20.9
24.1
25.2
267.1
50.7
144.4
12.1
132.2
(D)
11.9
6.5
23.0
(D)
38.1
1.2
11.4
7.9
3.5
(D)
3.1
14.4
1.1
(D)
14
2
8
65
3
(D)
26
222
5
(D)
196.3
17.7
43.9
21.9
21.9
42.2
80.2
12.3
171.3
14.1
26.0
13.0
13.0
39.6
67.9
23.7
25.0
3.6
17.9
8.9
8.9
2.6
12.3
-11.4
15
26
69
68
68
7
18
-48
146.3
survey had to specify their eight largest sales categories and U.S. affiliates that filed the short form had to
specify their three largest sales categories. Sales in all unspecified industries combined are shown in this line.
124
SURVEY OF CURRENT BUSINESS
industry of affiliate. Employment is
higher by industry of sales than by
industry of affiliate in retail trade,
services, and "other" industries. In
"other" industries, most of the difference is in mining and transportation.
Employment by industry of sales is significantly lower in petroleum, manufacturing, and wholesale trade, mainly
because affiliates classified in these industries have substantial employment
in other industries (such as retail trade
and services).7 Although employment
was lower by industry of sales than
by industry of affiliate for manufacturing as a whole, it was significantly
higher in some industries within manufacturing. For example, in motor vehicle manufacturing, employment was
55,000 by industry of sales, but only
34,000 by industry of affiliate. It was
higher by industry of sales because several affiliates classified in motor vehicle wholesale trade had motor vehicle
manufacturing operations. These affiliates are classified in wholesale trade
because most of their sales result from
the wholesale distribution of imported
cars rather than from sales of cars they
manufactured in the United States.
When classified by industry of affiliate, the manufacturing employees and
the other employees of these affiliates
all appear in wholesale trade. When
classified by industry of sales, the
manufacturing employees appear in
manufacturing.
Table 8 shows employment by industry of sales cross-classified by country
of UBO. For some countries, the industry distribution of employment in this
table differs significantly from that in
table 17, which shows employment by
industry of affiliate cross-classified by
country of UBO. For example, when
classified by industry of sales, employment by affiliates \with UBO's in
the United Kingdom is significantly
lower in manufacturing and significantly higher in retail trade and services. In contrast, employment by af-
filiates with UBO's in Japan is higher
in manufacturing and lower in wholesale trade when classified by industry
of sales.
7. Employment by industry of sales may also be
lower because not all employment had to be specified by
industry of sales. Large affiliates were required to disaggregate their employment into the eight industries in
which their sales were largest, and some of these affiliates had sales in more than eight industries. Similarly,
small affiliates were required to disaggregate their employment into the three industries in which their sales
were largest, but they may have had sales in other industries. In addition, for affiliates with sales in more
than one industry, employees in central administrative
offices that were not associated with particular industries of sales may have been included in the unspecified category. Unspecified employment was 146,000,
or 5 percent of total employment by affiliates. Affiliates classified in manufacturing had 100,000 unspecified employees, most of whom were likely to have been
in manufacturing industries other than those specified.
July 1989
Commercial property
The benchmark survey indicates
that the value of U.S. commercial property owned by U.S. affiliates, a measure of foreign ownership of U.S. real
Manufacturing employment by State
estate, was $91 billion in 1987 (taThe benchmark survey, for the first ble 10). By State, almost 45 pertime, collected a breakdown of affil- cent of the total was in three States—
iates' manufacturing employment by California ($17 billion), New York ($13
State.8 Manufacturing employees in a billion), and Texas ($10 billion). Affilgiven State are employees on the pay- iates' commercial property holdings in
roll of manufacturing plants located in Texas were twice as large as those in
the State, including employees in cen- Florida ($5 billion), which ranked next
tral administrative offices and auxil- in size.10
iary units that primarily serve these
By country of UBO, affiliates with
plants.
UBO's in Canada had by far the largest
Table 9 shows affiliates' manufac- holdings of commercial property—$23
turing employment by State cross- billion. Affiliates with UBO's in Japan
classified by country of UBO.9 To- and the United Kingdom followed, with
tal manufacturing employment was $13 billion each.
1,233,000, of which one-third was acCompared with other affiliates, the
counted for by five States: California commercial property holdings of affili(120,000), Pennsylvania (82,000), New ates with UBO's in Japan were particYork (71,000), North Carolina (69,000), ularly concentrated; three States (Caland Ohio (68,000).
ifornia, New York, and Hawaii) acBy country of UBO, manufactur- counted for over 78 percent of their
ing employment was largest for af- holdings. By comparison, holdings of
filiates with UBO's in the United affiliates with UBO's in Canada and
Kingdom (282,000), Canada (193,000), the United Kingdom were less concenand Germany (164,000). For each trated; the three largest States (Calicountry, employment was concentrated fornia, New York, and Texas, in both
in a few States.
Affiliates with cases) accounted for 43 percent and
Japanese UBO's had the most concen- 36 percent, respectively, of these affilitrated employment—over one-half of ates' holdings.
their manufacturing employment was
in five States (California, Michigan, Merchandise trade by country of
destination or origin and by product
Illinois, Ohio, and Tennessee). Affiliates with Canadian UBO's had the
In addition to data
least concentrated employment—one- merchandise trade byon U.S. affiliates'
industry of affilthird of their manufacturing employbenchment was in five States (North Car- iate and country of UBO, theon such
mark survey collected data
olina, Pennsylvania, New York, Ten- trade by country of destination or orinessee, and California).
gin and by product.11
In 1987, U.S. affiliates had U.S. mer8. In past benchmark and annual surveys, only total
employment was collected by State. Future annual surchandise exports of $48 billion and U.S.
veys, however, will collect both total and manufacturing
merchandise imports of $141 billion
employment by State.
(table 11). Most imports—69 percent—
9. Total affiliate manufacturing employment in table
were goods for resale without further
9 differs from total affiliate manufacturing employment
when classified by industry of sales, which is shown in
processing.
tables 7 and 8. In table 9, total manufacturing employment consists only of employees on the payroll of
manufacturing plants, whereas in tables 7 and 8, it
includes some nonmanufacturing employees (see footnote 6). Also, total manufacturing employment includes
petroleum refining employees in table 9, but in tables 7
and 8, it excludes them. Affiliates' manufacturing employment in table 9 is defined to be consistent with data
on total manufacturing employment by State,
Tables in other BEA publications show affiliate employment by State cross-classified by industry of affiliate. The data in table 9 give a better indication of the
number of manufacturing employees in a State than
the data in those tables. In table 9, the manufacturing
employees shown are those actually engaged in manufacturing in the State, regardless of the industry classification of the affiliate. In the other BEA tables, all
employees of a U.S. affiliate in the State are shown in
the single industry in which the affiliate is classified,
based on its U.S. operations as a whole, even if some of
the employees are in other industries.
10. Similar data on commercial property of affiliates
were collected in the 1980 benchmark survey, but not
in the annual surveys. However, future annual surveys
will collect these data.
Commercial property is the gross book value of commercial buildings and associated land owned by the affiliate. This property may be either used or operated
by the affiliate or leased or rented to others. Commercial buildings include apartment buildings, office buildings, hotels, motels, and buildings used for wholesale,
retail, and services trades (such as shopping centers,
recreational facilities, department stores, bank buildings, restaurants, public garages, and automobile service stations).
11. Data on merchandise trade by industry of affiliate
and country of UBO are also available from the annual
surveys. Data on merchandise trade by destination or
origin and by product are only available in benchmark
surveys.
July 1989
125
SURVEY OF CURRENT BUSINESS
Table 8.—Employment by Nonbank U.S. Affiliates, Industry of Sales by Country of Ultimate Beneficial Owner, 1987
[Thousands of employees]
Europe
Of which:
All
countries
Canada
Total
France
1.0
0
1.0
.6
.2
.4
45.8
.8
7.7
.4
0
.4
8.3
.4
0
.4
158.6
6.3
(D)
(D)
9.6
(D)
3.2
(D)
2.5
28.6
23.7
17.8
5.8
5.0
38.3
13.8
3.0
10.8
24.5
6.4
12.0
6.1
75.7
7.1
4.1
3.2
(D)
(D)
2.4
(D)
3.2
10.0
17.3
16.9
.4
7.6
13.2
31.8
1.2
D
(D)
( )
.9
.5
0
.3
(*)
7.4
5.6
(°)
D
( )
1.7
2.6
.1
0
100.3
3.1
.5
2.7
7.2
2.4
3.2
.2
1.4
18.5
16.7
16.0
.7
1.8
33.4
12.4
2.3
10.0
21.0
6.0
10.0
5.1
38.0
2.8
.5
3.2
.2
(*)
.1
(D)
1.3
2.3
16.6
16.6
(*)
4.9
(D)
3.1
.2
0
(*)
0
(*)
84.3
15.9
20.5
2.9
21.1
7.5
6.3
2.2
2.7
5.2
4.4
<°)
(*)
(D)
.6
29.9
8.2
9.2
2.1
10.4
7.4
0
(D)
(D)
(D)
8.9
.8
2.3
.1
5.7
(*)
41.1
.3
39.1
(*)
(D)
.2
.3
(D)
1,335.3
142.7
26.1
116.5
240.6
120.2
49.6
22.9
47.9
144.2
..
87.2
50.6
...
36.6
57.0
311.8
118.3
29.3
. . . .
88.9
193.5
71.6
51.6
....
70.3
496.1
36.4
23.3
.
43.9
.. ..
76.7
..
19.8
56,8
22.6
31.4
.
72.4
<
65.1
55.1
10.1
73,7
50.7
214.1
19.8
(D)
(D)
53.2
(D)
.6
(D)
(D)
27.1
17.7
4.4
13.3
9.4
32.5
12.2
2.8
9.4
20.3
(D)
(D)
1.3
81.5
5.4
3.7
8.1
35.6
16.0
19.6
(D)
10.4
4.1
4.2
3.7
.5
(D)
1.3
885.1
108.3
14.6
93.7
170.8
74.0
41.6
20.5
34.6
63.6
34.3
20.5
13.8
29.3
229.0
85.2
22.0
63.1
143.9
45.0
36.0
62.8
313.4
21.7
14.6
31.3
33.7
.8
32.9
16.9
17.0
51.2
42.0
34.2
7.8
50.5
34.6
100.6
8.4
(D)
(D)
12.5
10.3
(D)
(*)
(D)
13.8
11.4
(D)
(D)
2.4
31.6
12.9
(D)
(D)
18.7
(D)
(D)
2.5
34.4
.5
.7
.6
(*)
0
(*)
4.0
1.9
11.5
10.0
(D)
(D)
(D)
O
179.1
2.1
.1
1.9
56.4
33.8
7.0
3.7
11.9
13.8
5.6
3.1
2.5
8.2
41.1
14.9
1.5
13.4
26.2
3.7
12.4
10.1
65.7
4.9
5.1
1.3
10.4
0
10.4
(D)
2.8
3.8
13.9
13.7
.2
12.1
(D)
78.0
96.7
33.8
D
(D)
( )
31.0
5.5
17.2
4.9
3.4
3.7
(D)
0
D
( )
(D)
10.8
4.5
0
4.5
6.4
(D)
.6
(D)
17.4
1.1
.5
.9
2.3
0
2.3
.6
.4
3.8
.5
.4
(*)
5.3
2.1
310.2
43.6
7.5
36.0
43.0
15.7
13.0
4.3
10.0
18.5
9.4
2.4
7.0
9.1
65.4
26.1
4.5
21.6
39.3
12.5
10.7
16.1
139.8
12.9
4.4
7.5
15.6
.8
14.8
1.1
8.3
27.2
14,5
9.9
4.6
30.0
18.3
..
271.5
43.4
32.3
12.9
43.4
38.4
25.8
20.8
15.3
39.1
18.3
.4
2.9
1.1
(D)
1.3
1.9
4.8
.2
D
( )
156.4
21.2
8.9
7.4
20.7
28.1
17.2
13.3
12.2
27.2
22.8
(D)
35.1
7.3
7.2
1.3
4.0
4.5
2.2
(D)
10.0
(*)
.4
.1
.3
2.7
2.0
.3
1.4
2.8
42.4
3.3
.4
2.8
2.9
8.6
8.9
5.2
.8
9.3
6.5
(°)
(*)
.6
.3
.7
.3
.4
.1
(°)
2.9
(D)
0
.6
(D)
.4
(*)
(*)
(*)
(D)
179.1
(D)
26.3
31.3
(D)
394.0
72.3
193.7
44.9
83.2
13.2
99.0
(D)
31.8
(D)
28.8
9.2
(D)
,6
(°)
(D)
.5
0
0
0
.5
4.4
30.4
8.6
53.1
.
,
,..,
.
,
Insurance
'.5
1.0
2.5
1.2
.9
9.5
D
( )
12.8
8
(D)
1.1
0
1.1
<L
(*)
(
0
*>2
(D)
20.0
(*)
(*)
(D)'
(D)
.6
1.0
(
1.2
143.6
(*)
.8
4.8
0
(D)
(*)
(°)
(D)
(D)
(°)
(*)
(D)
8.0
(°)
1.5
D
( )
(°)
(°)
.6
(*)
D
( )
2.2
(D)
L5
0
1.5
0
.7
D
( )
(*)
0
(*)
7.2
1.7
.
....
.7
(°)
11.5
3.7
.1
2.7
14.3
11.5
23.8
1.1
0
(*)
1.1
.4
.9
1.2
.4
2.2
.7
16.2
1.7
8.3
6.2
2.1
(*)
2.6
.7
1.3
1.7
8.4
.3
.2
.2
(*)
0
1.7
3.6
.6
2.3
.3
2.0
0
.6
(*)
0
(*)
37.1
(D)
(D)
4.0
(D)
0
0
9.8
0
.4
53.8
5.7
27.5
2.9
24.6
.1
3.2
4.9
2.1
10.3
(D)
1.9
(°)
14.9
1.9
1.4
17.3
1.3
2.7
Is
8
11.2
5.6
.4
2.3
.5
1.8
1.3
1.7
0
3.6
.7
.2
.2
(*)
2.0
.6
.2
28.6
3.2
10.4
5.4
5.0
4.2
9.6
1.1
(D)
6.5
(°)
0
(D)
(D)
1.8
0
Coal
Other
Construction
.,
Transportation
Communication and public utilities
,
Suppressed to avoid disclosure of data of individual companies.
* Less than 50 employees.
1. See footnote 1 to table 7.
(°)
30.1
4.5
146.3
53.1
1.0
17.2
10,6
6.5
3.3
25.6
6.1
42.0
81.2
8.2
20.0
9.1
10.9
29.0
20.2
3.9
84.1
(D)'
(D)
(*)
.6
D
6.1
196.3
17.7
43.9
21.9
21.9
42.2
80.2
12.3
Other industries
Agriculture forestry and fishing
.9
.8
0
.8
(*)
0
(*)
0
1.9
0
0
(*)
0
0
0
0
(*)
(D)
(D)
.7
.1
149.4
21.3
80.0
14.0
66.1
(D)
13.4
( )
.4
(D)
9.1
1.5
16.4
2.4
(D)
4.1
D
(D)
<X)
(
(
41.3
2.9
(D)
2.2
1,
17.2
0
0
.2
110.9
(D)
(D)
(D)
22.9
305.2
51.9
155.8
20.0
135.7
12.2
15.0
20.9
24.1
25.2
8
2.6
8
98.6
(*)
85.3
(*)
13.1
31.5
Real estate
Services
.
.
.
Hotels and other lodging places
Business services
....
Computer and data processing services
Other business services
Motion pictures, including television tape and film..
Engineering architectural and surveying services
Accounting research management and related services
Health services
Other services
284.6
1.6
.2
1.4
28.4
23.4
5.1
,
Finance, except banking
D
90.0
1.9
0
1.9
630.1
.3
0
.3
o'
8.7
.6
2.3
8.5
8
a
2.1
(*)
20.2
D
( )
434.1
Japan
32.5
183.4
(D)
(D)
1.4
79.5
.
....
Australia
3.4
0
3.4
269.5
.5
.2
.3
(D)
(D)
(D)
19.1
5.6
(D)
D
(D)
( )
2.7
.5
.5
0
2.2
37.4
(D)
4.2
D
(D)
( )
(D)
(D)
(D)
(D)
United
States
Total
19.9
363.3
6.5
1.9
4.6
590.5
Middle
East
11.6
(°)
(D)
183.6
64.0
51.2
12.8
80.7
..
Wholesale trade
Motor vehicles and equipment
Professional and commercial equipment and supplies
Metals and minerals except petroleum
Electrical goods
Machinery equipment and supplies
...
. .
Other durable goods....,
Groceries and related products
Farm-product raw materials
,
Other nondurable goods
Unspecified '
United
Kingdom
617.2
124.3
229.8
81.2
181.9
.
Other
.
Switzerland
Of which:
Africa
1,903.7
96.1
63.9
32.2
,
Manufacturing
.
.
Food and kindred products
Beverages
. .
Other
Chemicals and allied products.
Industrial chemicals and synthetics
Drugs
Soap, cleaners, and toilet goods
Other
Primary and fabricated metals
.
.
Primary metal industries
..
Ferrous
Nonferrous.
...
Fabricated metal products ....
Machinery
.
Machinery except electrical .
Office and computing machines .
.
..
Other
.
Electric and electronic equipment
.•
Audio, video, and communications equipment
Electronic components and accessories . . .
Other
Other manufacturing
Textile products and apparel
Lumber wood furniture and fixtures
Paper and allied products
Printing a n d publishing
. . . .
Newspapers
.
.
Other
.
Rubber products
Miscellaneous plastics products
.
Stone clay and glass products
Transportation equipment
Motor vehicles and equipment
Other transportation equipment
Other
Netherlands
Asia and Pacific
13.4
(D)
(D)
3,159.7
AH industries
Petroleum
,
Petroleum and coal products manufacturing
Other
Retail trade
General merchandise stores
Food stores
Germany,
Federal
Republic of
Latin
America and
Other
Western
Hemisphere
(°)'
.2
(*)
!i
.4
.9
^
(D)
(*)
0
3.5
D
(D)
( )
0
(D)
1.8
(°)
0
(°)
(D)
(*)
n
o
<°)
0
(D)
(D)
(D)
<3
0
0
D0
( 0)
(D)
o'
(
2.9
2.1
'\3
(4)
.3
(*)'
0
O
(D)
(*)
(D).9
19.7
(*)
o'
(D)
(D)
2.2
(D)
.9
4.2
0
0
0
(*)
8.0
(*)
(D)
(*)
(*)
(D)
76.4
15.0
20.4
2.8
20.1
7.1
3.5
1.0
2.7
3.8
35.5
.3
(*)
15.8
6.6
6.6
0
(*)
0
0
0
0
(D)
(D)
(D)
(D)
(*)
1.2
.1
0
.1
1.1
(*)
1.1
(*)
D
( )
0
D0
( ).4
0
.4
0
0
0
(*)
0
(*)
0
0
.3
0
0
0
0
.1
0
(*)
0
.1
.1
0
0
0
.1
.2
1.8
6.5
1.5
4.0
(*)
.7
.6
0
0
0
0
0
(*)
0
0
(D)
4.9
.9
(*)
.9
0
(°)
(*)
0
.3
(D)
19.7
21.3
.8
20.5
2.7
(D)
.9
(*)
7.2
12.7
.2
(D)
31.5
14.6
11.6
.5
11.1
.1
.4
.5
0
4.3
(D)
1.4
(D)
(D)
(D)
45.8
(D)
5.2
1.5
3.8
7.1
30.3
(D)
31.5
0
(D)
(D)
2.7
3.2
22.9
(D)
11.5
1.6
.3
0
.3
3.2
6.4
(*)
12.8
.5
11.8
(D)'
(D)
o'
2.4
!s
.5
0
(°)
2.3
(D)
.3
(D)'
(D)
0
(*)
(*)
.6
(D)
2.4
(D)
(D)
(*)
o'
0
0
0
0
0
0
0
0
0
.3
126
SURVEY OF CURRENT BUSINESS
Affiliates7 exports to Japan were over
five times as large as those to any
other country and accounted for 41
percent of all affiliate exports. Affiliates' imports from Japan were over
four times as large as those from any
other country and accounted for almost
one-half of all affiliate imports. A large
portion of this trade was accounted
for by Japanese-owned wholesale trade
affiliates, which primarily distribute
products produced by others. Thus,
a significant part of these affiliates'
exports consists of products of other
U.S. businesses that are purchased by
the affiliate and resold abroad; similarly, a significant part of their imports consists of products for resale
in the United States without further
processing.
After Japan, the next most important destinations of exports were
Canada ($4 billion) and the United
Kingdom ($3 billion); for imports, the
next most important countries of origin were Germany ($16 billion) and
Canada ($8 billion). For most countries, U.S. affiliates' imports from a
country significantly exceeded their exports to that country.
July 1989
By product, U.S. affiliates' exports of
food were $10 billion, one-fifth of their
total exports. Exports of chemicals
and machinery were also large—$8 billion and $7 billion, respectively. For
affiliates' imports, by far the largest
categories were road vehicles and
parts ($48 billion) and machinery ($34
billion).
Changes in Employment
This section discusses changes in
affiliate operations in 1987 based on
changes in employment. Employment
Table 9.—Manufacturing Employment by Nonbank U.S. Affiliates, State by Country of Ultimate Beneficial Owner, 1987
[Thousands of employees]
Europe
All
countries
Of which:
Canada
Total
Germany,
Federal
Republic
of
France
Netherlands
Switzerland
United
Kingdom
Latin
America
and
Other
Western
Hemisphere
Asia and Pacific
Of which:
Middle
East
Africa
Total
1,233.4
193.3
820.0
97.5
164.4
86.0
82.0
282.1
New England:
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
24.2
5.4
30.5
7.0
6.9
1.8
1.9
1.6
4.8
1.5
(D)
.7
21.1
3.5
21.4
4.3
5.5
1.0
2.7
.4
(D)
(*)
3.8
.7
3.1
2.0
1.1
.2
(°)
1.2
1.1
.4
.3
(*)
.8
(*)
1.3
.2
.4
.5
8.6
.4
6.2
1.4
2.1
.2
(*)
(*)
(D)
(*)
(*)
(*)
Mideast:
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania
6.9
.2
17.6
61.7
70.9
81.6
(°)
2.7
(*)
13.0
48.0
50.9
54.5
(*)
(*)
3.2
5.7
3.8
9.3
.5
(*)
1.1
8.2
8.8
12.7
.2
0
2.2
7.6
5.7
3.2
.2
.1
3.3
8.1
12.7
13.2
.8
9.3
6.0
3.0
.7
(*)
4.2
11.8
18.8
19.4
8
8
Great Lakes:
Illinois
Indiana
Michigan
Ohio
Wisconsin
64.8
39.9
50.3
68.0
25.4
8.1
3.3
5.5
8.4
5.7
43.0
33.3
29.4
42.9
16.3
1.5
7.9
5.5
2.7
1.1
5.8
7.0
7.6
7.6
3.8
6.6
6.8
.6
3.0
(°)
8.2
1.2
.8
7.1
1.9
12.4
6.5
8.6
15.6
4.6
1.2
.2
.3
(D)
10.4
6.6
15.8
19.2
2.3
1.1
.8
3.2
.6
2.8
3.5
.4
.3
.6
6.5
5.6
11.3
14.1
1.6
.7
.1
.2
1.3
.7
.1
(*)
1.7
.6
1.8
2.5
(*)
(*)
0
.3
.6
.7
.8
.4
1.0
1.9
.5
(*)
(*)
1.0
1.6
4.3
4.9
1.0
.6
.1
20.6
11.1
29.5
49.5
20.2
14.8
11.2
69.2
37.5
49.2
30.4
11.7
3.9
2.2
3.1
8.9
3.9
1.4
2.0
17.6
4.9
11.3
7.4
5.0
11.1
5.8
20.1
27.9
12.0
7.6
4.5
48.0
28.2
29.3
19.0
6.2
1.9
1.1
1.6
2.0
1.7
.5
(D)
4.5
(D)
1.9
1.4
(°)
.9
.2
1.6
3.3
4.9
.9
.4
18.3
10.3
4.7
6.3
1.5
.6
.3
1.9
1.3
1.0
(°)
(*)
1.2
.6
U
e>1.2
o
2.2
.3
.6
1.2
2.8
3.6
2.1
1.1
.2
5.0
1.8
11.4
16.3
3.3
2.1
.9
16.5
6.3
10.2
7.8
1.8
.4
.7
1.8
.9
.2
5.4
1.0
.8
(°)
.6
D
()
(*)
Southwest:
Arizona
New Mexico
Oklahoma .
Texas
13.7
2.8
6.0
66.0
.2
(*)
1.0
9.5
9.8
2.2
3.9
47.6
(°)
.5
.5
.1
9.3
.3
.6
.2
6.4
.6
.1
.5
3.8
3.7
.9
1.7
17.0
(*)
(*)
Rocky Mountains:
Colorado
Idaho
Montana
Utah .a . .
Wyomin
10.8
1.3
1.2
4.6
1.1
.9
.3
.3
.7
9.4
1.0
.5
3.2
1.1
.5
(*)
0
(*)
(*)
1.3
0
0
(°)
0
.9
.6
5.8
.3
.3
.4
.3
.3
3.0
(*)
(*)
(*)
0
0
0
(*)
0
0
0
0
0
0
14.4
(*)
2.7
1.6
0
(*)
.6
0
0
10.5
(*)
(*)
.5
0
0
.6
0
0
27.2
.2
.7
2.9
(*)
(*)
2.1
.1
.2
5.7
(*)
(*)
.6
(*)
.2
(*)
0
(*)
(*)
0
0
0
0
(*)
(*)
(*)
(*)
0
Total
Plains:
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
Southeast:
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
.
.
.
,
. . .
Far West:
California
Nevada
Oregon
Washington
Alaska
Hawaii
Puerto Rico
Other U S areas l
Foreign 2 . .
D
,
120.2
.5
8.0
12.6
2.3
.8
7.0
.2
.3
(*)
9.5
.2
1.0
1.1
.9
.1
.7
0
(*)
Suppressed to avoid disclosure of data of individual companies.
* Less than 50 employees.
72.3
.3
5.8
7.7
(*)
4.3
.2
.2
'.5
„
%
7.0
.3
(*)
.2
(*)
6.2
(*)
.1
.1
(*)
(*)
(*)
0
(*)
(°)
(*)
0
0
(*)
i!o
(*)
(*)'
7.9
(>)
.8
1.8
0
(*)
1.0
(*)
0
47.5
0
0
0
0
93.7
13.5
.9
.3
1.8
(°)
(°)
(*)
.2
.3
.6
.6
(*)
1.1
(°)
(*)
(*)
0
0
0
0
(*)
0
(*)
(*)
0
'A
25.4
(*)
(*)
(*)'
(*)
(*)
0
.6
3.4
144.1
(*)
(*)
(*) 1
1.
(*)
0
(*)'
(*)
(*)
7.6
(*)
(D)
(*)
(*)
.1
0
(*)
(*)
(*)
Japan
.2
0
.4
0
0
0
7.3
(*)
(*)
(D)
(D)
(*)
0
1.7
6.4
Australia
United
States
.2
(*)
.9
()
0
(*)
0
D
(*)
(D0
)
(*)
0
(*)
0
0
.2
.9
is
(*)
(*)
(*)
(*)
0
0
0
.5
.2
1.2
.3
(*)
(*)
(*)
(*)
'.1
0
(*)
(*)
0
(*)
0
0
0
0
(°)
0
1.1
3.1
5.3
3.7
9.0
2.9
14.2
9.0
2.4
(*)
(*)
0
0
0
.1
.7
(°)
1.4
.5
(*)
(D)
.9
.6
.5
.3
1.6
1.4
.3
(*)
(*)
4.4
2.1
2.2
8.8
3.4
.3
3.4
2.5
1.9
6.6
D
(D)
()
W
.8
.9
(°)
(*)
.4
.3
.2
4
3.2
(*)
48
^
()
(*)
(*).4
8.0
2.9
10.9
7.6
(D)
2.6
.1
.6
D
()
(*)
2.3
.2
.2
(*)
(D)
.3
.1
.6
(*)
0
(*)
3.2
1.0
1.0
4.1
2.2
.1
(D)
1.6
1.2
5.8
.3
(*)
D
(*)
(*)
'.2
0
o'
31.3
0
1.0
3.2
1.2
.5
1.6
0
0
2.2
0
(*)
0
(*)'
'.3
0
0
0
0
.3
0
1.0
1.6
3.5
2.2
(*)
(*)'
.8
.2
0
0
(*)
0
.9
(*)
1.2
2.7
(*)
0
0
0
0
(*)
0
0
0
.2
()
D
(*)'
\1
(*)
(
.8
*l
A
.5
0
.3
(*)
(*)
0
(*)
0
0
0
0
.5
(*)
18.1
0
.8
2.9
1.2
.2
1.3
0
0
1.3
0
0
(*)
o'
0
(*)
0
1. Consists of the Virgin Islands, Guam, American Samoa, U.S. offshore oil and gas sites, and all other outlying U.S. areas.
2. Consists of employees of U.S. affiliates working abroad.
SURVEY OF CURRENT BUSINESS
127
panies by foreign investors. Acquisitions also added significant numbers of
employees in retail trade. However,
the overall increase for the industry
was small (6,000 employees) because
the industry classification of a major
affiliate changed. Prior to 1987, the affiliate, which has operations in both retail trade and tobacco manufacturing,
was classified in retail trade; in 1987,
it sold a substantial part of its retail
trade operations and, as a result, its
classification shifted to tobacco manufacturing (included in "other" under
"other manufacturing" in the tables).
A number of other industries had
significant shifts in employment because of changes in industry classification. Some of the changes resulted
from restructuring of affiliates' operations. In some cases, the affiliates sold
or discontinued businesses in industries that had accounted for the major
part of their overall operations; in others, they acquired or expanded businesses in industries that had previously accounted for only a minor part
of their operations. In a few cases,
an affiliate both sold and acquired major businesses. Additional changes
July 1989
was chosen because changes in it are
not directly affected by inflation and,
thus, tend to correspond more closely
than other available items to changes
in real economic activity.
Employment by affiliates increased
222,000 in 1987, to 3,160,000. Increases were substantial in several industries, notably services (44,000), finance (except banking) (31,000), and,
within manufacturing, in office and
computing machines (20,000) and rubber products (15,000) (table 12). In
each industry, the increase was largely
the result of acquisitions of U.S. com-
Table 10.—Commercial Property of Nonbank U.S. Affiliates, State by Country of Ultimate Beneficial Owner, 1987
[Millions of dollars]
Europe
All
countries
Of which:
Canada
Total
France
Germany,
Federal
Republic
of
Netherlands
Switzerland
United
Kingdom
Latin
America
and
Other
Western
Hemisphere
Asia and Pacific
Of which:
Middle
East
Africa
United
States
Total
Australia
Japan
90,886
23,190
36,850
3,566
4,835
6,955
3,791
12,786
3,544
343
8,077
18,316
1,475
13,462
566
1,130
361
2,379
250
113
68
306
143
658
52
8
11
737
162
846
106
100
43
31
(D)
21
(D)
10
5
(D)
(*)
31
4
2
3
118
4
270
13
7
(*)
10
1
14
6
2
1
194
(D)
437
(D)
78
2
9
(D)
41
2
4
(D)
0
0
(*)
(*)
0
0
45
(D)
422
3
0
0
33
(D)
350
(D)
28
1
301
18
2
(*)
(*)
(*)
3
(*)
12
2
(*)
(*)
()
1,348
1,298
3,265
13,198
2,034
238
298
658
408
3,637
467
102
649
535
1,882
4,051
1,199
4
123
34
165
283
122
9
2
71
236
518
174
4
157
136
327
511
293
9
1
61
569
993
34
37
333
83
298
1,084
470
54
64
32
71
(D)
43
(*)
(*)
(D8)
0
24
137
63
615
3,561
248
3
6
5
(D)
167
72
20
105
30
366
3,118
59
(D)
(*)
5
7
200
8
247
1,227
69
3,353
472
931
1,989
474
906
102
246
180
135
1,909
307
519
1,533
310
161
(D)
170
98
26
286
46
115
180
24
351
112
77
141
52
312
2
8
117
(D)
635
76
124
915
108
158
4
33
6
11
8
(D)
113
(D)
8
3
27
1
253
24
122
234
14
7
1
26
64
3
229
21
92
87
3
7
4
1
1
(*)
Plains:
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
268
249
1,312
884
127
64
49
54
39
644
214
54
28
5
151
160
508
538
52
31
40
8
(D)
39
36
14
(D)
6
34
21
130
133
1
(*)
39
71
70
191
6
1
(*)
6
(D)
34
8
8
(*)
13
51
9
180
154
23
4
19
3
38
(D)
(D)
8
(D)
43
6
(*)
(*)
4
(*)
17
0
(*)
0
13
2
2
19
(*)
(*)
(*)
(*)
Southeast:
Alabama ...
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
210
344
5,377
3,341
658
1,368
223
1,633
765
810
1,988
73
54
90
1,786
645
68
345
64
171
47
141
231
4
119
244
2,139
1,966
394
561
109
1,233
611
590
1,296
66
12
11
87
48
70
170
11
13
79
101
76
1
17
29
244
314
27
25
41
93
42
57
147
16
23
164
557
561
16
94
5
306
233
242
242
8
9
22
237
150
83
22
27
85
46
12
64
1
2
0
492
432
128
201
3
145
66
23
164
3
31
2
330
253
20
(D)
22
75
32
41
210
(*)
8
(*)
74
129
(*)
(D)
(D)
21
149
(*)
101
104
16
(D)
7
57
11
13
48
(*)
(*)
0
21
1
13
1
(*)
(*)
(*)
1,527
225
704
10,316
616
88
288
2,698
496
93
369
4,308
(D)
10
(D)
675
26
13
84
539
84
39
106
827
(D)
329
1
6
1,719
51
6
30
810
18
1
(D)
87
5
5
11
514
(*)
0
1
(D)
2,260
39
67
151
39
1,302
28
25
105
9
647
10
39
26
28
72
1
(D)
4
(D)
63
1
(*)
Washington
17,060
456
586
1,267
3,742
73
175
765
4,174
80
166
213
Alaska
Hawaii
Puerto Rico
Other U S. areas '
Foreign 2
(D)
2,744
36
206
106
69
31
2
34
8
144
68
17
74
96
Total
New England:
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
..
.
.
Mideast:
Delaware
District of Columbia
Maryland .
New Jersey
New York
Pennsylvania
Great Lakes:
Illinois .
Indiana
Michigan ...
Ohio
Southwest:
Arizona
New Mexico
Oklahoma
Texas
Rocky Mountains:
Colorado
Idaho
Montana
Utah
Far West:
California
Nevada
D
D
,
,
...
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
(
8
62
(D)
(*)
(D)
D
(D)
()
ii
(D)
1
5
4
1
39
10
620
674
180
131
13
338
108
137
440
36
4
4
590
40
34
(D)
23
4
6
13
55
0
1
4
19
4
(*)
33
8
3
311
222
22
71
1,191
35
37
9
670
26
1
9
(*)
6
418
(*)
3
3
32
0
(*)
(*)
1
(*)
(*)
0
(*)
0
180
1
(*)
9
0
97
1
3
10
1
(D)
(*)
(*)
(*)
(*)
32
(*)
(*)
50
1
(*)
8
3
1
(*)
2
0
0
(*)
(*)
300
3
2
35
629
10
32
33
336
17
5
14
219
(*)
10
27
2,284
46
115
42
665
5
(*)
10
126
(*)
(*)
(D)
1,418
22
21
(D)
6,880
277
224
184
383
54
(*)
4,890
(D)
202
80
55
0
0
6
2
2
(*)
(D)
26
(*)
(D)
(D)
60
7
32
4
(*)
(*)
0
5
(D)
(*)
6
0
52
(D)
3
2
(*)
5
19
1
0
0
0
1
1
0
2
0
43
2,636
6
76
2
(*)
60
0
0
(*)
40
2,467
6
57
2
0
(*)
6
1
0
0
1
4
3
1
32
0
(*)
(*>
D
()
0
(*)
1. See footnote 1 to table 9.
2. Consists of foreign assets carried directly on the U.S. affiliates' books.
8
0
(*)
0
(*)
1
(*)
128
SURVEY OF CURRENT BUSINESS
Table 11.—U.S. Merchandise Trade of Nonbank
U.S. Affiliates, by Country of Destination or
Origin, by Product, and by Intended Use, 1987
July 1989
Table 12.—Employment by Nonbank U.S. Affiliates, by Industry of Affiliate and Country of Ultimate
Beneficial Owner, 1985-87
Change
Thousands of employees
[Millions of dollars]
U.S.
U.S.
mermerchandise chandise
exports
imports
shipped shipped
by
to
affiliates affiliates
47,929
AH countries, all products
140,617
By country
Canada
3 890
Europe
.
. . . .
7513
10510
42
256
66
82
763
Germany, Federal Republic of.
Ireland .. .
Italy
Liechtenstein
Luxembourg
Netherlands
...
3077
16,206
71
935
0
.
1 548
o
468
166
192
0
o
1,068
Norway
Spain
Sweden
Switzerland...
United Kingdom
Other
.
.
59
344
232
624
.
1,007
390
371
2668
1,247
Latin America and Other Western Hemisphere
3370
2304
4944
1285
.
2,898
7 665
1 403
2,148
507
844
81
376
736
.
(D)
2761
(D)
355
59
621
56
(D)
(D)
(D)
63
151
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
United Kingdom Islands, Caribbean
Other .
(D)
8
184
782
94
688
Africa
South Africa
Other .. .
.
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates . . .
Other
...
.
8,286
2544
South and Central America
Brazil
.
Mexico
,
Panama
Venezuela
Other
Asia and Pacific
Australia
Hong Kong
Japan
Malaysia
New Zealand
Philippines
Singapore
South Korea
Taiwan
Other. ..
250
1682
....
.
3306
601
219
47
12
155
19
148
632
135
(*)
3
138
141
215
25,645
451
520
418
2888
78,581
827
19539
1,010
68360
136
85
191
258
95
232
166
407
1 809
1,024
1632
Unallocated *
3603
8360
1065
29575
5956
9,853
6910
1,467
3,886
10,289
. . .
Manufacturing
Beverages
...
Other
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
. ..
Other
Primary and fabricated metals
Primary metal industries
Ferrous
.
.
..
Nonferrous
Fabricated metal products
.
Machinery
Machinery except electrical
Office and computing machines
Other
Electric and electronic equipment
Audio video and communications equipment
,.
,
. . . .
.
Other
Other manufacturing
Textile products and apparel
. . . .
Lumber wood furniture and fixtures
Paper and allied products
,
,
,
Newsoaoers
Other
Miscellaneous elastics products
Stone clav and class oroducts
Transportation equipment
Motor vehicles and eouipment
Other transportation equipment
Instruments and related products
Other
,
,
Food
Beverages and tobacco
Crude materials, inedible, except fuels
Petroleum and products
Coal and coke . . .
Chemicals
Machinery .
Road vehicles and parts
Other transportation equipment
Metal manufactures
Other
854
5,498
2,211
1307
7,780
7068
722
745
5,567
6324
10
6,758
34417
47,511
1 069
12,269
16032
By intended use
Goods for resale without further manufacture
Other
D
96,987
43630
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
1. A U.S. affiliate was required to disaggregate its U.S. exports and
imports by country of destination or origin only for those countries to
which its exports, or from which its imports, were $500,000 or more.
Its exports to, or imports from, all other countries were reported as a
single item and were classified in "unallocated." Also, for estimated
reports, most exports to, and imports from, unaffiliated foreigners are
included in this category.
2. See footnote 1 to table 4.
3. See footnote 2 to table 4.
-7.1
-11.0
3.9
1,455.2 1,411.6 1,517.5
160.2
146.3
150.7
38.6
20.7
20.1
107.7
139.5
130.6
376.8
386.5
429.6
249.7
253.8
230.3
70.6
51.0
66.6
37.3
47.1
30.7
9.4
28.9
117.5
157.2
167.6
158.5
82.2
79.7
103.2
32.6
41,0
37.5
41.2
65.7
47.1
75.0
78.8
64.3
321.6
314.8
310.5
104.2
91,6
116.4
35.6
15.9
26.5
68.5
75.7
90.2
217.4
194.1
223.3
46,5
38.5
93.3
41.3
105.6
102.7
82.8
71.2
52.9
505.9
401.3
396.8
37.0
32.9
37.9
13.6
18.9
12.9
44.7
38.5
44.3
82.3
84.0
72.9
16.7
n.a.
n.a.
65.5
n.a.
n.a.
5.3
5.8
20.5
27.7
18.6
13.5
85.9
80.2
80.4
54.8
62.3
64.4
34.3
46.5
56.8
20.5
15.7
7.6
63.4
41.0
29.7
19.6
35.1
76.2
221.8
1987
1986
3
8
,
117.7
78.7
39.0
-1.1
7.1
-8.2
-6
-12
11
-1
9
-21
-43.6
9.5
.6
8.9
-52.8
23.4
15.6
16.3
-108,2
-9.1
-23.5
-4.9
-18.7
14.5
4.3
-24.8
-10.7
-14.4
29.2
8.0
2.8
18.3
4.5
-4.9
6.0
-5.9
11.1
n.a.
n.a.
-.5
5.1
-.3
-2.1
-10,3
8.1
11.4
-15.4
105.9
-13.9
17.9
-31.9
9.7
-4.1
4.0
-9.7
19.5
-1.3
2.5
8.4
-5.8
-3.8
6.8
12.6
19.8
-7.2
-5.8
46.7
-64.2
11.6
104.6
4.1
-5.3
6,2
-1.8
n.a.
n.a,
15.2
9.1
5.7
-7.5
-12.2
4.7
22.4
56,6
-3
6
3
7
-12
10
31
53
-92
-5
-23
-13
-28
22
1
-21
-40
-16
15
21
3
35
1
-13
46
-13
15
n.a.
n.a.
-8
38
(*)
7
-9
87
-23
-18
107
38
-44
3
-2
6
-21
209
-1
3
26
-12
-5
2
14
125
-9
-3
100
-61
16
26
12
-28
16
-2
n.a.
n.a.
286
49
7
-12
-26
30
55
288
...
....
,
.
Retail trade
General merchandise stores
Food stores
»
Other
. .
Finance except banking
.
Real estate
.
Computer and data processing services
Other business services
Motion pictures including television tape and film
Engineering architectural and surveying services
Health services
Construction
. .
Transportation
Communication and public utilities
.
.
5.7
.6
n.a.
.9
-2.8
n.a.
n.a.
.9
-1.2
4.5
5
4
n.a.
15
9
n.a.
n.a.
-7
-1
-30
2
1
n.a.
4
-6
n.a.
n.a.
4
-6
13
561.1
n.a.
n.a,
n.a.
n.a.
567.4
86.6
217.7
82.2
180.9
79.6
n.a.
n.a.
n.a.
n.a.
6.3
n.a.
n.a.
n.a.
n.a.
17
n.a.
n.a.
n.a.
n.a.
1
n.a.
n.a.
n.a.
n.a.
56.4
87.0
9.0
30.7
19
54
74.0
87.2
5.0
13.2
7
18
32.1
32.0
1.4
-.2
4
-1
219.5
37.6
106.2
4.8
101.3
8.1
17.3
(D)
23.7
41.2
48.1
10.2
223.5
35.4
108.9
7.3
101.6
10.6
17.0
11.3
21.9
42.1
57.0
17.0
267.1
50.7
144.4
12.1
132.2
17.6
11.9
6.5
23.0
39.6
67.9
23.7
4.0
-2.2
2.8
2.5
.3
2.5
-.3
(D)
-1.8
.9
9.0
6.8
43.6
15.3
35.4
4.8
30.6
7.0
-5.1
-4.7
1.0
-2.5
10.8
6.7
2
-6
3
51
(*)
30
-1
(°)
-7
2
19
67
20
43
33
66
30
66
-30
-42
5
-6
19
39
527.5
1,806.0
,
13.4
2.6
n.a.
3.0
4.0
n.a.
n.a.
-1.6
-.3
-15.3
481.5
n.a.
n.a.
n.a.
n.a.
.
313.7
71,7
28.5
24.4
47.2
32.9
26.8
23.3
19.1
39.7
30.8
Groceries and related products
Farm-product raw materials
Other nondurable goods
.
,.
308.0
71.1
n.a.
23.5
50.0
n.a.
n.a.
22.4
20.3
35.1
69.0
...
Professional and commercial equipment and supplies
Metals and minerals except petroleum
Electrical goods
Machinery equipment and supplies
294.6
68.4
n.a.
20.4
46.1
n.a.
n.a.
24.0
20.6
50.4
47.4
Wholesale trade
Hotels and other lodging places
By product
116.6
85,8
30.8
124.8
89.7
35.1
Petroleum and coal products manufacturing
Other
U44
1 112
75.7
1987
Percent
By industry
5040
Addenda:
European Communities (12)2
OPEC3 .
.
1987
2,862.2 2,937.9 3,159.7
AH industries, all countries
4928
.
1986
1986
37259
2,050
Austria
Belgium
Denmark
Finland
France
1985
Thousands of
emplc
609.2
1,783.2
590.5
1,903.7
81.7
-22.8
-18,7
120.5
15
-1
-3
7
165.1
408.1
213.0
185.0
639.4
177.9
312.4
242.4
183.0
622.9
183.6
363.3
269.5
183.4
630.1
12.8
-95.7
29.4
-2.0
-16.5
5.8
51.0
27.1
.4
7.2
8
-23
14
-1
-3
3
16
11
(*)
1
122.1
(D)
53.0
(D)
128.0
26.7
39.5
321.7
143.0
9.9
32.5
343.1
5.9
(D)
-13.5
(D)
15.6
-16.8
-7.0
112.4
5
(D)
-26
(D)
12
-63
-18
35
41.1
29.7
35.5
-11.4
5.8
-28
20
By country
Of which:
France
Germany Federal Republic of
Netherlands
Switzerland
.
Latin America and Other Western Hemisphere
Africa
Middle East
Asia and Pacific
United States
n.a. Not available.
D
Suppressed to avoid disclosure of data of individual companies.
* Less than 0.5 percent or 50 employees (±).
July 1989
in industry classification resulted from
BEA's review of the detailed information collected in the benchmark survey
on the activities of affiliates.
Within manufacturing, the effects of
changes in industry classification were
particularly significant. For example, within food manufacturing, the increase in beverages (18,000) and the
decrease in "other" (32,000) occurred
largely because an affiliate's classification shifted from grain mill products
(included in "other" food manufacturing in the tables) to beverages. (The
changes for the two industries were
not completely offsetting because total employment of the affiliate dropped
substantially between 1986 and 1987.)
Similarly, within electrical machinery
manufacturing, the increase in audio,
video, and communications equipment
and the decrease in electronic components largely reflected a change in classification of a major affiliate. The decrease in electronic components also reflected another affiliate's sale of a major subsidiary that resulted in the affiliate's industry classification changing
to instruments. Finally, within chemicals, the increase in "other" and the
decrease in industrial chemicals partly
reflected a shift in classification of a
large chemicals affiliate that restructured its operations.
By country of UBO, increases in
employment were largest for affiliates
with UBO's in Japan (64,000), Germany (51,000), and the Netherlands
(27,000). Employment by affiliates
with Japanese UBO's increased mainly
in finance (except banking), services,
and manufacturing. For affiliates with
UBO's in Germany, increases were
mainly in manufacturing and retail
trade. For affiliates with UBO's in the
Netherlands, the increase was more
than accounted for by an increase in
retail trade.
Among U.S. regions, the largest increase in affiliate employment was in
the Mideast (68,000) (table 13). Among
States, by far the largest increases
were in California and New York—
35,000 and 32,000, respectivelyfollowed by Massachusetts and Pennsylvania, with 16,000 each.
Share of the U.S. Economy
This section uses two measures—
employment and total assets—to discuss the share of the U.S. economy accounted for by U.S. affiliates. First,
129
SURVEY OF CURRENT BUSINESS
the size of U.S. affiliates relative to
the U.S. economy, in total and by industry, is discussed in terms of employment. The industry comparisons
use data on affiliate employment classified by industry of sales. Industry of sales, rather than industry
of affiliate, is used because it corresponds more closely to the by-industryof-establishment classification that is
used for the all-U.S.-business employment data. (Classification by industry
of sales, however, is not identical to
classification by industry of establishment. See footnote 6.) Second, affili-
ates' shares in manufacturing are discussed in terms of total assets. Assets are classified by industry of enterprise for both U.S. affiliates and all
U.S. businesses.
In 1987, U.S. affiliate employment
accounted for 3.6 percent of the
86,584,000 employees of all nonbank
U.S. businesses (table 14). The affiliate share was up slightly from 1986,
when it was 3.5 percent. The increase
reflected the strong growth in affiliate employment in 1987, which, as discussed earlier, largely reflected acqui-
Table 13.—Employment by Nonbank U.S. Affiliates, by State, 1985-87
Thousands of employees
1985
1986
Change
1987
Thousands of
employees
1986
Percent
1987
1986
1987
2,862.2
2,937.9
3,159.7
75.7
221.8
3
8
170.5
43.5
21.1
71.5
16.5
11.3
6.6
178.6
48.9
20.3
74.4
17.1
11.1
7.0
200.7
55.3
19.1
90.8
18.5
11.0
6.0
8.1
5.4
-.9
2.S
.6
-.2
.4
22.1
6.4
-1.2
16.5
1.4
-.1
-1.0
5
12
-4
4
3
-2
6
12
13
-6
22
8
-1
-14
636.9
34.8
5.7
49.5
154.8
241.9
150.2
667.1
33.6
7.1
49.9
155.8
268.2
152.6
735.2
36.9
7.1
53.3
169.3
300.1
168.5
30.3
-1.2
1.4
.4
1.1
26.2
2.4
68.0
3.3
(*)
3.4
13.4
31.9
15.9
5
-3
24
1
1
11
2
Michigan
Ohio
Wisconsin
481.4
143.9
54.1
81.8
138.1
63.4
487.6
153.7
57.7
89.5
129.3
57.4
512.0
166.1
65.8
94.5
132.2
53.4
6.2
9.8
3.6
7.6
-8.8
-6.1
24.5
12.4
8.1
5.0
2.9
-4.0
1
7
7
9
-6
-10
5
8
14
6
2
Plains
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
127.1
18.5
14.6
35.7
46.2
7.5
2.8
1.8
132.6
19.5
16.2
39.1
47.9
6.2
2.4
1.5
139.6
20.5
17.8
41.0
48.5
7.2
2.7
1.9
5.6
1.0
1.5
3.3
1.7
-1.3
-.4
-.3
7.0
1.0
1.6
1.9
.6
1.1
.3
.4
4
5
10
9
4
-18
-15
-18
5
5
10
5
1
17
13
29
Southeast
Alabama
710.3
31.5
18.4
94.8
107.4
37.2
51.0
15.9
116.0
66.6
69.6
69.4
32.4
739.1
34.7
18.2
104.6
107.7
35.2
49.1
20.0
123.3
64.7
77.4
76.0
28.1
788.9
35.1
20.3
116.8
117.7
37.4
50.8
17.6
132.9
74.8
80.7
79.7
24.9
28.9
3.2
-.2
9.7
.3
-2.0
-1.9
4.1
7.3
-1.9
7.8
6.7
-4.3
49.8
.4
2.1
12.3
10.0
2.2
1.7
-2.5
9.6
10.1
3.3
3.7
-3.2
4
10
-1
10
-4
26
6
-3
11
10
-13
7
1
12
12
9
6
3
-12
8
16
4
5
-11
284.3
34.5
11.2
26.9
211.7
286.6
35.7
10.4
25.9
214.7
290.5
42.4
14.0
26.5
207.6
2.3
1.2
-.8
-1.0
3.0
3.9
6.7
3.6
.7
-7.1
1
3
-8
-4
1
1
19
34
3
-3
..
49.7
31.0
2.8
2.9
9.9
3.1
54.9
32.8
3.3
3.2
12.0
3.6
53.1
29.5
4.0
3.5
12.0
4.1
5.2
1.9
.6
.3
2.1
.4
-1.8
-3.4
.7
.4
-.1
.6
11
6
20
9
22
14
-3
-10
20
12
-1
17
...
360.3
298.8
7.4
18.6
35.5
350.6
289.2
9.0
17.4
35.0
393.8
324.2
10.7
20.5
38.4
-9.6
-9.6
1.7
-1.2
-.5
43.2
35.0
1.7
3.0
3.4
-3
-3
23
-6
-1
12
12
19
17
10
7.1
18.7
10.0
3.7
2.2
6.4
18.4
10.9
3.2
1.9
7.2
22.4
11.0
3.6
1.7
-.7
-.3
.8
-.6
-.3
.8
4.0
.1
.5
-.1
-1Q
-2
8
-16
-14
12
22
1
15
-8
Total
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
,
Mideast
Delaware
District of Columbia
Maryland . .
New Jersey
New York
Pennsylvania
. ..
Great Lakes
Illinois
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
. .
Southwest
Arizona
New Mexico
Oklahoma
Texas
Rockv Mountains
Colorado
Idaho
Montana
Utah
Wyoming
..
Far West
California
Nevada
Oregon
Washington
.
.
..
Alaska
Hawaii
Puerto Rico
Other U S areas '
Foreign 2
* Less than 0.5 percent or 50 employees (±).
1. See footnote 1 to table 9.
2. See footnote 2 to table 9.
. .
(*)
10
10
(*)
9
12
10
130
sitions of U.S. companies by foreign
investors.12
By industry, affiliate shares of U.S.
employment were highest in mining
(8.4 percent) and manufacturing (7.3
percent) and lowest in communication
and public utilities and in construction
(less than 1 percent in each). Within
manufacturing, affiliate shares were
highest in petroleum and coal products (39.5 percent) and chemicals (23.5
percent) and lowest in textile products
and transportation equipment (3.2 percent in each).13 Within transportation
equipment, the affiliate share was 6.5
percent in motor vehicles and less than
1 percent in "other."
In petroleum and coal products, the
affiliate share of the all-U.S.-business
total is significantly overstated because of the different industry classifications used for the affiliate and allU.S.-business employment data. Affiliate employment in this industry
is largely accounted for by integrated
petroleum companies that are involved
in all phases of the petroleum industry,
including the extraction and refining of
crude oil and the marketing of gasoline
and other petroleum products. In the
direct investment data, when classified
by industry of sales, all of the sales and
employment of the integrated companies in any of these activities are included under petroleum and coal products manufacturing. In contrast, in the
all-U.S.-business data, which are classified by industry of establishment, the
employment of integrated companies is
distributed among the activities of the
company's individual establishments;
12. The data on employment by all nonbank U.S. businesses are from table 6.6B of the national income and
product account tables in this issue. The total used
here is equal to employment in private industries less
the employment of banks and private households.
The estimates of affiliate employment, like those of
total assets, sales, and other measures of U.S. affiliate operations, are not adjusted to reflect the percent
of foreign ownership. Thus, for example, the employment estimates include all employees of each affiliate,
even though foreigners may own less than 100 percent
of the affiliate. Although data limitations preclude precise adjustment of the U.S. affiliate estimates for ownership percentage, information reported in BEA's direct investment surveys indicates that, with a few important exceptions, most U.S. affiliates are 100-percent
foreign owned or have a high percent of foreign ownership. Rough calculations suggest that affiliate employment would be about 20 percent lower at the allindustries level if it were adjusted for the percent of
foreign ownership.
13. In table 14, unlike in other tables on direct investment published here and elsewhere, petroleum is
not shown as a separate major industry. Instead, in order to be consistent with the industry classification of
the all-U.S.-business data, affiliate employment in the
various petroleum subindustries are distributed among
the other major industries. Thus, in table 14, manufacturing includes petroleum and coal products, wholesale
trade includes petroleum wholesale trade, retail trade
includes gasoline service stations, and so on.
SURVEY OF CURRENT BUSINESS
thus, only employees in the companies'
manufacturing establishments are included in petroleum and coal products
manufacturing.
A rough adjustment can be made
to exclude affiliates' nonmanufacturing employees from this industry using
data reported in the benchmark survey. After this adjustment, the affiliate share of all-U.S.-business employment in petroleum and coal products
was about 19 percent.14
For manufacturing as a whole, U.S.
affiliates' share of total assets was substantially higher than their share for
employment—13.2 percent, compared
14. This adjustment also slightly reduces the affiliate
share of employment for manufacturing as a whole—to
7.1 percent. As part of this adjustment, the employees subtracted from petroleum and coal products should
be added to other petroleum-related subindustries. Although it is likely that most of the employees would
be added to retail trade (gasoline service stations) or
mining (oil and gas extraction), information on the exact number of employees that should be added to each
subindustry is not available.
Table 14.—Employment by Nonbank U.S. Affiliates
and AH Nonbank U.S. Businesses, 1987
Thousands of
employees
U.S.
affiliates '
3,160
AH industries
Manufacturing
Petroleum and coal products
Chemicals and allied products
Stone, clay and glass products
Primary metal industries
Instruments and related products
Electric and electronic equipment
Food and kindred products
Rubber and plastics products
Paper and allied products
Machinery except electrical
Printing and publishing
Fabricated metal products
Textile products
Transportation equipment
Motor vehicles and equipment
Other
Other
Wholesale trade
Retail trade
Finance, except banking
Insurance
Real estate ..
Services 3
Agriculture, forestry, and fishing
Mining
Construction
Tran sportation
Communication and public utilities
Unspecified4
All
U.S.
busi- 2
nesses
U.S.
affiliates as
a
percentage
of all
U.S.
businesses
... ..
..,
86,584
3.6
1,399
64
241
72
87
74
194
143
54
44
118
77
• 57
23
65
55
10
87
19,123
162
1,025
588
741
689
2,083
1,627
825
683
2,025
1,532
1,407
730
2,041
853
1,188
2,965
7.3
39.5
23.5
12.3
11.8
10.7
9.3
8.8
6.5
6.4
5.8
5.0
4.1
3.2
3.2
6.5
.8
2.9
279
622
81
80
31
305
18
60
42
84
12
5,942
18,972
1,573
2,080
1,383
24,501
1,790
716
5,080
3,221
2,203
4.7
3.3
5.1
3.8
2.3
1.2
1.0
8.4
.8
2.6
.6
146
n.a.
n.a.
1. In this table, unlike most other tables on direct investment
published here and elsewhere, petroleum is not shown as a separate
major industry. Instead, in order to be consistent with the industry
classification of the all-U.S. business data, affiliate employment in the
various petroleum subindustries is distributed among the other major
industries. Thus, manufacturing includes petroleum and coal products,
wholesale trade includes petroleum wholesale trade, retail trade includes gasoline service stations, and so on.
2. The data on employment of all nonbank U.S. businesses are from
table 6.6B of the national income and product account tables in this
issue. The total is equal to employment in private industries less the
employment of banks and private households.
3. Excludes private households.
4. See footnote 1 to table 7.
July 1989
15
with 7.3 percent (table 15).
Their
share of assets was higher for two
main reasons. First, affiliates are
more concentrated than all U.S. businesses in industries, such as chemicals and petroleum and coal products,
that have relatively low employmentto-assets ratios. Second, differences
in valuation may cause affiliate shares
based on total assets to be overstated.
When a company is acquired—whether
by foreign or U.S. buyers—its assets
are often revalued to reflect the new,
generally higher, value implicit in the
acquisition price. Because much of
the growth in foreign direct investment
in recent years has been through acquisitions, the portion of affiliates' assets that has been recently revalued is
probably higher than that for all U.S.
businesses.16
Within manufacturing, the ranking of industries based on the size
of the affiliates' shares of total assets was similar, but not identical,
to that based on employment. The
four industries with the largest affiliate shares based on total assets—
stone, clay, and glass; chemicals; primary metals; and petroleum and coal
products—were also the top four based
on employment; however, the order of
the four industries was different for the
two measures. Also, the two industries
with the smallest affiliate shares based
on total assets—textile products and
transportation equipment—were also
the industries with the smallest shares
based on employment.
For petroleum and coal products
manufacturing, the share based on total assets was significantly lower than
15. The comparisons based on total assets cover only
manufacturing because comparable data on total assets
of all U.S. businesses in other industries are not available. Comparisons based on sales are also shown in
table 15, but are not discussed. All-U.S. businesses'
total assets and sales are from the Census Bureau's
Quarterly Financial Report for Manufacturing, Mining,
and Trade Corporations (QFR). Comparisons for mining
and trade are not appropriate because the QFR data
for these industries cover only corporations with assets
over $25 million. The exclusion of unincorporated businesses from the QFR mining and trade data means that
a significant portion of the all-U.S.-business activity in
these industries is missing.
16. A comparison of affiliates' share of sales with their
share of assets may indicate the importance of differences in valuation. Comparisons based on sales, unlike
those based on assets, are not distorted by differences in
valuation because sales are generally valued at current
prices.
For manufacturing as a whole, U.S. affiliates' share
of all-U.S.-business sales was 11.0 percent—lower than
their 13.0-percent share of total assets, but higher than
their 7.3-percent share of employment. These percentages indicate that part, but not all, of the difference
between the asset- and employment-based shares may
be due to differences in asset valuation. As noted in the
text, some of the difference may be attributable to the
heavier concentration of affiliates in industries with low
employment-to-asset ratios.
SURVEY OF CURRENT BUSINESS
July 1989
that based on employment. As noted
earlier, differences in industry classification caused the affiliate share of employment to be overstated. However,
after the adjustment of the employment data discussed earlier, the share
based on assets and the share based on
employment are very close—19 percent
and 17 percent, respectively.
In several industries—particularly
stone, clay, and glass; chemicals; primary metals; rubber and plastics products; printing and publishing; and
fabricated metal products—the affiliate shares based on total assets were
significantly higher than those based
on employment. Asset shares were
higher partly because of the differences in the valuation discussed earlier. Also, in some of these industries—
such as stone, clay, and glass—
affiliates may be more diversified than
other U.S. businesses. In such industries, an enterprise-based classification, like that used for the total
assets comparisons, would result in
higher affiliate shares than an activitybased classification, like the industryof-sales and industry-of-establishment
classifications used for the employment
comparisons.
For manufacturing as a whole, the
affiliates' share of the total assets of
all U.S. businesses was higher in 1987
than in 1986—13.2 percent, compared
with 12.5 percent. The increase reflected a sharp jump in the affiliate
share in rubber and plastics products,
a jump that, in turn, reflected the acquisition of a U.S. tire manufacturer by
foreign investors. Affiliate shares also
increased substantially in stone, clay,
and glass products; food; instruments;
and "other" manufacturing.
Technical Note
The 1987 benchmark survey covered
all U.S. affiliates of foreign direct investors (U.S. companies owned 10 percent or more by a foreign person) that
had assets, sales, or net income of more
than $1 million. For similar items, the
benchmark survey data in this article
are comparable to universe estimates
for earlier years, which were derived
from data reported in BEA's annual
survey of foreign direct investment in
the United States. The benchmark
survey data indicate that, in general,
the totals estimated for earlier years
are not significantly overstated or
understated.
Table 15.—Total Assets and Sales of U.S. Affiliates and All U.S. Businesses in Manufacturing, 1986 and
1987»
Millions of dollars
U.S. affiliates
All U.S. businesses
1986
1987
U.S. affiliates as a
percentage of all U.S.
businesses
1986
1986
1987
238,668
11,610
70,709
15,231
51,003
2,406
21,029
20,156
11,124
4,419
7,199
5,264
10,433
1,188
6,897
4,761
270,600
15,016
75,552
14,975
58,352
5,875
27,689
20,121
10,521
7,652
7,820
6,027
12,171
1,417
7,412
6,164
1,907,932
46,784
217,166
73,942
334,952
41,329
219,791
173,262
94,154
62,943
84,491
69,082
211,901
26,729
251,406
86,187
2,051,419
48,057
244,446
78,678
338,384
43,956
235,690
190,363
99,617
78,988
86,746
85,279
213,658
30,817
276,740
83,847
12.5
24.8
32.6
20.6
15.2
5.8
9.6
11.6
11.8
7.0
8.5
7.6
4.9
4.4
2.7
5.5
13.2
31.2
30.9
19.0
17.2
13.4
11.7
10.6
10.6
9.7
9.0
7.1
5.7
4.6
2.7
7.4
217,141
11,602
60,120
16,283
31,408
2,885
21,676
23,579
8,627
4,493
8,819
5,170
10,857
1,588
10,034
4,884
256,474
12,075
70,238
18,259
41,641
6,546
27,751
25,704
9,049
6,802
8,879
6,350
13,087
1,840
8,253
5,869
2,073,922
52,901
205,778
85,523
226,519
60,596
317,523
193,892
107,552
63,152
115,694
74,844
201,284
46,226
322,438
147,009
2,224,954
54,338
225,200
93,627
248,324
63,293
340,135
210,870
116,587
74,171
123,994
95,576
206,438
48,284
324,117
153,258
10.5
21.9
29.2
19.0
13.9
4.8
6.8
12.2
8.0
7.1
7.6
6.9
5.4
3.4
3.1
3.3
11.5
22.2
31.2
19.5
16.8
10.3
8.2
12.2
7.8
9.2
7.2
6.6
6.3
3.8
2.5
3.8
1987
Total assets
Manufacturing ....
Stone clay and glass products
Chemicals and allied products
Primary metal industries
Petroleum and coal products
Rubber and plastics products
Food and kindred products2
Electric and electronic equipment
Printing and publishing
Instruments and related products
Fabricated metal products
Paper and allied products
Machinery except electrical
Textile products
. .
Transportation equipment
Other
. .
. . . .
Sales
Manufacturing
Stone, clay, and glass products
Chemicals and allied products
Primary metal industries
Petroleum and coal products
Rubber and plastics products
Food and kindred products 2
Electric and electronic equipment
Printing and publishing
Instruments and related products
Fabricated metal products
Machinery, except electrical
Textile products
Transportation equipment
Other
..
1
.:...»
1. In this table, unlike most other tables on direct investment published here and elsewhere, petroleum and coal products is included in
manufacturing in order to be consistent with the industry classification of the all-U.S. business data.
2. Includes tobacco manufacturing.
NOTE.—Total assets and sales of all U.S. businesses cover U.S. corporations and are from the first-quarter 1987 and first-quarter 1988 issues of
Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations, published by the Census Bureau.
131
The consistency of the annual survey
estimates and the benchmark survey
data reflects improvements in BEA's
data collection system and estimation
procedures. In particular, a mandatory
BEA survey of new investments provides each year the information, especially on smaller investments, needed
to update the U.S. affiliate universe.
Except as noted, the concepts and
definitions underlying the 1987 data
are essentially the same as those underlying BEA's 1980 benchmark survey, as described in Foreign Direct Investment in the United States, 1980.
A full methodology of the 1987 survey
will accompany the revised data to be
published next year.
The preliminary benchmark survey
results in this article include estimates
of data for reports not received or processed in time for publication and for
which BEA had a report for a prior
year that could serve as a basis for
estimation. The degree of estimation
varies from item to item—for example,
9 percent of total assets, but 15 percent
of employment, was estimated. Most
of the estimation was for small affiliates. The estimation of missing data,
which is a departure from the practice
in previous benchmark surveys, permitted results to be published in 13
months, about one-half the time required for the last benchmark survey.
The final results to be published next
year will incorporate data from reports
received or processed after publication
of these preliminary results. Revisions
are expected to be small overall; however, they could be sizable for some individual countries, industries, States,
or for merchandise exports and imports
by product. Revisions are most likely
to be sizable in cells in which small affiliates predominate.
The number of U.S. affiliates included in the data for 1987 is significantly smaller than the number included in the estimates for the past
few years. The benchmark survey indicated that a significant number of companies that were below the exemption
level of BEA's annual survey, and for
which BEA had been making estimates
since the 1980 benchmark survey, have
been sold, liquidated, or merged or consolidated with another U.S. affiliate
since 1980. Thus, they have been eliminated from the number count. Most
of these companies were small real estate affiliates. Although the number
of U.S. affiliates for 1987 will probably
remain smaller than estimated for earlier years, it will be revised up somewhat when final survey results are
132
SURVEY OF CURRENT BUSINESS
July 1989
published. The revision will reflect the items that appear only on the long presented in the same detail for all
addition of companies whose reports form so that the published results are affiliates.
were received or processed too late and
could not be estimated for these preliminary results.
Acknowledgments
The industry detail shown in this
article differs from that in the artiBEA extends thanks to the staffs of U.S. companies that responded to the 1987 benchmark
cles presenting the annual survey resurvey for their efforts in completing and filing reports and for their cooperation with BEA
during processing and review of the data.
sults for earlier years, both because
As a result of the efforts of the BEA staff listed below, the benchmark survey results were
greater detail is provided and because
published in about one-half the time required for the last benchmark survey.
the industry coding system for direct
Jack J. Bame, Associate Director for International Economics, BEA, provided general guidinvestment surveys has been changed
ance for the benchmark survey. George R. Kruer, Chief, succeeded by Betty L. Barker, and R.
to align it with the 1987 revised StanDavid Belli, Assistant Chief, International Investment Division (IID), directed the design of the
dard Industrial Classification system.
report forms, the conduct of the survey, and the analysis and publication of the results.
The added detail is mainly in services
The Foreign Direct Investment in the United States (FDIUS) Branch of IID, under the
direction of James L. Bomkamp, had primary responsibility for conducting the survey. Past
industries.
and present Branch members directly involved were Juris E. Abolins, James R. Barker, Jr.,
The country detail shown has been
Chester C. Braham, Constance T. Deve, Diann L. Dronko, Beverly A. Feeser, Earl F. Holmes,
reorganized along geographic lines;
Lonnie Hunter, Lester Koransky, Carol L. Lefkowitz, Tracy K. Leigh, Stephanie A. Lewis, Edna
economic or political groupings, such
A. Ludden, Gregory L. McCormick, Carmella M. Moore, Ronald L. Ross, Clarence D. Smith,
Marie P. Smith, Robert N. Smith, Ethel J. Wheeler, and Dorrett E. Williams.
as the European Communities, are no
Beverly Feeser was project leader for editing and processing the forms. She also designed
longer shown in the body of the tables
the computer edit checks and the forms and processing control systems.
(they are shown as addenda in some
Juris Abolins coordinated the forms design and the FDIUS Branch's final review of the
tables). Also, in this article, unlike in
survey results to ensure consistency and accuracy. He was assisted in the final review by
the articles for earlier years, the inGregory McCormick, Lonnie Hunter, Diann Dronko, and Constance Deve.
dustry classification of a U.S. affiliate's
The Research Branch of IID, under the direction of Obie G. Whichard, assisted the FDIUS
UBO, if a business enterprise, reflects
Branch in reviewing the results for consistency and accuracy. The reviewers were Ned G.
Howenstine, Jeffrey H. Lowe, Alicia M. Quijano, and Ellen M. Herr. Arnold Gilbert, of the
the UBO's worldwide consolidated acData Retrieval and Analysis Branch (DRAB) of IID, also assisted in the review.
tivities rather than just the activities
James T. Spalding, Chief, Programming and Analysis Branch of the Computer Systems and
in the UBO's country of classification
Services Division, coordinated the data programming, conversion, and processing activities,
or the activity of the UBO itself.
which were performed by Douglas J. Klear, Betty G. McNiel, Stephen P. Holliday, Elizabeth L.
In the 1987 benchmark survey, a
Shumate, John A. Sondheimer, and Marguerite E. Ellis.
long form, requesting information in
D. Richard Mauery, with assistance from Kim Joseph Zappa, designed the computer programs
for the control systems. He also designed the programs for data estimation and, with Arnold
considerable detail, was filed by affilGilbert, programs for final review of the data. Arnold Gilbert designed the programs to suppress
iates with assets, sales, or net income
the data for confidentiality reasons and to generate the tables for publication. They were under
greater than $20 million. To minimize
the supervision of Smith W. Allnutt III, Chief of DRAB.
the burden on survey respondents, a
Ned G. Howenstine, with assistance from Alicia M. Quijano, designed the data publication
less detailed short form was introduced
that will present more detailed data from the survey. Raymond J. Mataloni, Jr., of the Research
Branch, assisted in the analysis of the data and the preparation of the tables for this article.
for filing by smaller affiliates. For
these affiliates, BEA has estimated the
SURVEY OF CURRENT BUSINESS
July 1989
133
Table 16.—Employment by Nonbank U.S. Affiliates, Industry of Affiliate by Country of Ultimate Beneficial Owner, 1986
[Thousands of employees]
Europe
All
countries
All industries .
.
.
.
Drugs
t
Soap, cleaners, and toilet goods
Other
Primary and fabricated metals
Primary metal industries
<
Ferrous
Nonferrous
Fabricated metal products
Machinery
,
Machinery except electrical
. ,.
Office and computing machines
Other
Electric and electronic equipment
Audio video and communications equipment
Electronic components and accessories
Other
Other manufacturing
Textile products and apparel
Lumber wood, furniture and fixtures .
Paper and allied products . . . .
Printing and publishing
Tkt
Newspapers
.
.
Other
Rubber products
»
.
Miscellaneous plastics products
.
Stone clay and glass products
. . . .
Transportation equipment ...
.
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
..
Other
.
1
.
,
Wholesale trade
Motor vehicles and equipment
Professional and commercial equipment and supplies
Metals and minerals, except petroleum .
..
Electrical goods
Machinery equipment and supplies
.
Other durable goods
Groceries and related products
.
.
Farm-product raw materials . .
Other nondurable ^cods
..
.
.
Total
.
128.0
43.0
10.9
0
10.9
56.0
.1
0
.1
6.1
(*)
( n.a.
)
349.4
73.9
1.3
72.5
89.1
72.3
13.8
1.0
2.0
26.6
11.4
1.2
10.2
15.2
50.5
17.4
2.6
14.9
33.0
12.6
8.6
11.8
109.3
15.1
6.1
CO
13.4
n.a.
.1
(D)
(*)
n.a.
.1
.1
3.5
0
0
0
3.6
1.9
.9
6.0
33.2
11.2
8.8
2.4
20.9
CO
0
CO
CO
0
0
0
CO
9.7
.2
n.a.
242.4
1,783.2
177.9
312.4
94.3
77.3
17.0
9.2
(D)
D
( )
1.2
CO
CO
1,411.6
160.2
20.7
. .
139.5
376.8
253.8
66.6
47.1
9.4
158.5
79.7
32.6
47.1
,
78.8
314.8
,
91.6
15.9
75.7
223.3
46.5
105.6
71.2,
401.3
32.9
18.9
38.5
84.0
...
n.a.
5.3
18.6
80.2
...
62.3
46.5
15.7
41.0
19.6
,
275.4
99.5
5.0
.9
4.1
10.0
8.9
1.4
27.9
18.7
4.2
14.5
9.2
41.1
CO
.4
(D)
(D)
(D)
(D)
.8
69.8
5.1
1.6
5.9
42.7
935.6
124.1
3.0
121.1
249.9
141.2
57.2
44.2
7.4
65.0
27.5
8.0
19.5
37.5
221.5
58.7
7.5
51.3
162.8
20.3
75.0
67.5
275.1
23.5
12.3
28.5
28.6
162.4
.9
.1
.8
60.8
47.7
3.6
7.3
2.1
18.3
5.8
2.6
3.3
12.4
44.3
13.1
1.0
12.1
31.2
n.a.
(*)
.9
9.1
2.7
2.6
.1
.9
1.1
308.0
71.1
n.a.
23.5
50.0
n.a.
n.a.
22.4
20.3
35.1
22.6
00
n.a.
00
561.1
n.a.
n.a.
n.a.
n.a.
. . .
622.9
Federal
Republic of
4.0
D
(D)
()
.
183.0
France
Netherlands
609.2
.
United
Kingdom
Germa-
117.7
78.7
39.0
,
Manufacturing
Food and kindred products
Beverages
. «
.
Other
Chemicals and allied products
Retail trade
General merchandise stores
Food stores
Apparel and accessory stores
Other
Canada
2,937.9
.
Petroleum
. ...
Petroleum and coal products manufacturing
Other
.
.
Switzerland
Latin
America and
Other
Western
Hemisphere
Of which:
(D)
&
8
8
n
*
CO
4.5
8
8
16.4
4.1
3.1
1.1
12.2
7.5
8 8''
'8
2.1
102.7
4.2
.5
3.7
D
()
6.7
(*)
(D)
0
1.9
D
()
(D)
(*)
(D)
(D)
1.4
CO
(D)
(D)
0
(D)
(D)
7.9
(D)
0
(D)
1.6
63.7
.4
D
(D)
()
38.1
4.1
4.7
1.5
7.4
n.a.
CO
CO
65.8
51.4
37.6
13.9
36.0
13.2
n.a.
()
1.3
20.4
35.9
(D)
(D)
1.5
2.6
n.a.
0
4.1
4.4
2.3
1.4
.9
8.5
1.0
27.5
(D)
n.a.
D
(D)
()
n.a.
n.a.
.1
10.6
3.2
48.2
19.0
n.a.
2.7
.7
n.a.
n.a.
D
()
.1
1.9
5.0
(*)
n.a.
n.a.
n.a.
3.6
.2
10.3
164.3
41.7
n.a.
11.6
8.2
n.a.
n.a.
16.6
15.5
18.5
n.a.
.4
.1
.6
202.0
n.a.
n.a.
n.a.
n.a.
315.1
n.a.
n.a.
n.a.
n.a.
13.7
n.a.
n.a.
n.a.
n.a.
66.8
n.a.
n.a.
n.a.
n.a.
D
n.a.
0
(D)
(D)
o'
(D)
1.0
1.2
Services
Hotels and other lodging places
.
Business services
..
Computer and data processing services
,
Other business services
Motion pictures, including television tape and film
Engineering, architectural, and surveying services
Accounting, research, management, and related services
Health services
.
Other services
.
223.5
35.4
108.9
7.3
101.6
34.3
3.7
2.5
D
(D)
( )
21.9
18.4
12.1
3.8
2.8
(D)
(D)
0
1.7
.7
D
(D)
()
8.7
.6
1.9
D
(D)
()
0
.7
0
(D)
2.6
110.7
15.5
57.7
4.3
53.4
.4
7.9
10.6
(D)
(D)
2.8
.5
1.4
D
(D)
( )
0
.9
(*)
0
0
Other industries
Agriculture, forestry, and fishing
Mining . ..
Coal
Other
Construction
Transportation
Communication and public utilities
153.4
11.2
26.0
16.0
10.0
42.1
57.0
17.0
38.0
.2
8.2
2.3
5.8
3.2
17.0
9.4
76.7
6.4
14.2
11.1
3.1
32.9
15.8
7.4
14.9
.9
00
D
,
Suppressed to avoid disclosure of data of individual companies.
* Less than 50 employees,
n.a. Not available.
o
CO
.2
6.6
2.7
0
.1
2.5
n.a.
CO
26.6
.6
8
CO
0
(*)
CO
0
CO
6.2
5.4
CO
()
0
(D)
1.4
0
CO
CO
3.2
.5
CO
(D)
(D)
D
39.5
321.7
65.6
220.8
1.4
.6
.2
.4
.2
0
.2
.4
.2
.3
9.7
117.2
6.4
2.3
4.1
5.6
CO
31.9
1.2
70.8
4.2
D
(D)
( )
5.0
CO
CO
CO
CO
0
CO
.1
0
8
8
0
.1
0
2.1
0
0
0
0
0
n.a.
(*)
CO
(*)
n.a.
0
0
0
.1
0
.1
0
0
0
(*)
CO
0
CO
(*)
(*)'
3.6
CO
n.a.
8'5
4.9
CO
n.a.
.7
CO
n.a.
n.a.
CO
CO
CO
9.1
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
3.2
.2
n.a.
.7
.1
n.a.
n.a.
4.0
35.6
3.9
16.3
1.0
15.4
.3
3.6
1.3
2.1
8.0
42.8
1.7
.8
<2
CO
co'1
CO
0
.2
3.4
1.9
.1
0
.1
CO
CO
CO
8
°3
(*)
n.a.
n.a.
CO
o'
0
0
0
CO
0
0
0
CO
CO
.1
.1
0
»
.1
CO
0
0
CO
(*)
<D)
.2
.1
CO
CO
CO
CO
6.4
(D)
3.9
4.8
17.4
0
CO
0
CO
n.a.
n.a.
0
1.0
2.8
0
0
0
1.5
1.6
17.9
15.4
15.1
.3
2.5
24.2
16.1
CO
(D)
8.1
2.2
3.2
2.7
19.6
1.6
(D)
3.0
.2
n.a.
n.a.
CO
1.1
1.0
3.7
(D)
CO
2.4
3.2
109.1
26.8
n.a.
7.2
41.6
n.a.
n.a.
1.6
4.4
2.8
.9
.7
n.a.
.1
0
n.a.
n.a.
0
0
(*)
102.0
25.4
n.a.
7.0
40.5
n.a.
n.a.
1.0
4.4
1.9
29.0
24.1
CO
(D)
5.0
29.6
16.2
CO
CO
13.4
2.8
7.9
2.7
46.6
1.7
5.0
3.0
CO
n.a.
8.9
8
CO
CO
CO
0
CO
<2
CO
0
29.7
CO
CO
D
()
10.3
CO
CO
0
0
0
0
0
0
CO
CO
CO
0
(*)
.1
(*)
(*)
(*)
(*)
(*)
0
(*)
.9
0
0
CO
00
n.a.
n.a.
0
0
0
0
0
0
CO
0
.2
0
n.a.
0
0
n.a.
n.a.
(*)
0
CO
15.0
n.a.
n.a.
n.a.
n.a.
CO
6.2
(D)
28.4
n.a.
n.a.
n.a.
n.a.
CO
6.8
CO
0
.5
.2
2.1
4.0
.7
2.3
(*)
9.2
3.6
.5
0
.5
0
23.9
10.6
8.1
.1
8.0
.5
.1
.2
0
4.5
CO
0
CO
(*)
CO
CO
0
.1
0
00
13.0
9.1
1.5
.1
1.5
.3
.1
.1
0
1.8
(D)
31.2
18.0
CO
1.7
(D)
0
CO
2.7
6.2
0
CO
n.a.
n.a.
n.a.
n.a.
CO
CO
0
CO
3.6
0
0
0
m
CO
CO
Japan
CO
.1
1.0
19.8
2.4
3.6
2.9
.7
4.1
5.5
4.1
Australia
.1
0
United
States
Total
1.1
.1
1.1
0
0
8.2
(D)'
9.8
(D)
2.8
W
1.2
CO
16.7
20.7
1.1
3.7
3.7
(*)
13.7
2.1
0
CO
1.7
CO
CO
(*)
(D)
CO
32.1
()
(D)
CO
Middle
East
4.8
CO
CO
0
CO
CO
CO
0
CO
.8
CO
15.8
CO
D
2.2
13.2
6.5
.2
6.2
6.8
(*)
(D)
(D)
14.6
2.1
.4
CO
D
CO
CO
CO
11.4
(D)
2.9
77
()
!i
.1
0
0
22.5
.6
(D)
8
11.3
D
o
00
CO
<3
CO
7.7
28.4
Real estate
8
0
W
CO
0
CO
92.8
n.a.
n.a.
n.a.
n.a.
49.8
.6
43.4
.3
37.4
5.4
.3
7.4
18.5
n.a.
n.a.
n.a.
n.a.
9.6
. . .
8
CO
0
CO
73.2
n.a.
n.a.
n.a.
n.a.
6.6
. . . . .
CO
26.7
°.3
n.a.
n.a.
.8
3.4
.7
8
n.a.
74.0
.
109.5
CO
CO
Of which:
Africa
44.4
7.5
n.a.
3.5
CO
n.a.
n.a.
4.8
1.0
8.0
56.4
Finance, except banking
Insurance.
.3
.1
.2
Asia and Pacific
CO
CO
CO
0
CO
CO
CO
CO
D
()
CO
1.0
5.3
20.5
0
n.a.
n.a.
n.a.
n.a.
s'2
CO
CO
W
o
(D)
n.a.
n.a.
n.a.
n.a.
(D)
.1
CO
(D)
0
(*)
0
D
( 0)
0
00
CO
0
0
0
0
CO
0
134
SURVEY OF CURRENT BUSINESS
July 1989
Table 17.—Employment by Nonbank U.S. Affiliates, Industry of Affiliate by Country of Ultimate Beneficial Owner, 1987
[Thousands of employees]
Europe
Of which:
All
countries
France
Germany,
Federal
Republic of
Netherlands
Switzerland
269.5
183.4
Canada
Total
3,159.7
590.5
1,903.7
183.6
363.3
116.6
85.8
30.8
3.4
.5
2.9
96.5
84.4
12.0
9.7
(D)
(D)
1.2
.2
1.0
1,517.5
146.3
38.6
107.7
386.5
249.7
70.6
. .
37.3
28.9
157.2
82.2
41.0
41.2
75.0
321.6
104.2
35.6
68.5
217.4
93.3
41.3
82.8
505.9
37.0
13.6
44.7
82.3
16.7
65.5
20.5
27.7
85.9
54.8
..
....
34.3
..,
20.5
63.4
76.2
272.3
20.5
(D)
(D)
(D)
(D)
(D)
(D)
(D)
32.4
16.8
3.5
13.3
15.6
33.3
6.9
(D)
1,016.9
111.0
24.4
86.6
107.8
7.5
(D)
(D)
11.6
(D)
195.5
1.1
.2
1.0
75.2
59.9
4.1
8.5
2.7
18.2
6.4
3.1
3.4
11.7
48.1
12.7
1.0
11.6
35.4
0
(°)
D
( )
52.9
3.9
3.9
1.4
13.0
0
13.0
CO
3.8
4.3
2.8
2.6
.2
7.3
(D)
All industries
Petroleum
Petroleum and coal products manufacturing
Other
Manufacturing
Beverages
Other
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap cleaners and toilet goods .
Other. . . .
Primary and fabricated metals
Primary metal industries
Ferrous
. .
.
..
Fabricated metal products
Machinery, except electrical
Office and computing machines
Other
Audio video and communications equipment
Electronic components and accessories
Other
Other manufacturing
Textile products and apparel
Lumber, wood, furniture, and fixtures
Paper and allied products
* e »• f*""
e
Newspapers
Other
Rubber products
Miscellaneous plastics products
Stone clay and glass products
Transportation equipment
. .
Motor vehicles and equipment .
. .
Other transportation equipment
Instruments and related products
.
Other
.
&
• 8
1.2
(D)
5.6
1.5
7.4
38.6
16.1
22.6
(D)
9.2
(D)
(D)
3.5
(D)
(D)'
CO
(D)
61.3
34.7
25.8
56.9
25.1
10.8
14.2
31.8
249.3
75.4
26.6
48.8
173.9
66.6
28.6
78.8
(°)
22.2
7.9
32.8
39.6
.6
39.0
13.5
14.6
66.5
39.7
20.8
18.9
43.3
CO
°,
(*)
4.3
1.7
(D)
(D)
2.6
35.8
«,
8
2.2
48.6
.2
.7
.6
.1
0
.1
.6
1.0
19.9
20.2
(D)
(D)
(D)
(D)
47.2
18.4
90.0
284.6
CO
(D)
1.5
.3
0
.3
.7
(D)
(D)
.4
0
.4
.4
.2
.2
93.5
113.8
37.1
(*)
37.0
47.2
.4
41.4
4.9
.5
5.3
380.0
53.4
20.6
32.8
88.8
54.1
13.1
54.7
.8
(*)
10.3
.4
0
.4
.3
0
8
8
7.6
.4
0
.4
0
0
0
0
0
139.7
6.6
(D)
(D)
8.9
3.3
3.2
.5
1.9
28.5
25.1
(D)
(D)
3.4
33.9
18.8
7.8
11.0
15.1
2.6
9.7
2.9
61.8
7.1
4.1
3.2
1.4
(*)
1.4
(D)
3.4
9.0
9.9
9.9
0
6.1
(D)
30.0
1.2
(D)
(D)
(D)
0
D0
81.6
3.4
.5
2.9
7.4
3.3
3.2
.2
.7
17.6
16.0
15.3
.7
1.6
28.1
17.8
(D)
CO
10.3
2.0
5.4
2.9
25.0
2.7
(D)
0
(D)
D
( )
(D)
(*)
W
o
1.8
.5
.5
0
1.4
53.2
(D)
1.9
<J>
0
7.4
.7
0
CO
1.1
0
1.1
.1
.8
(D)
(*)
0
(*)
(*)'
12.4
.1
3.5
.1
8.8
91.6
0
(D)
(*)
CO
110.4
(D)
(D)
(D)
22.9
Finance, except banking
87.0
5.6
30.0
.5
.6
,5
Insurance
87.2
11.4
57.1
.1
2.8
15.1
Real estate
32.0
17.9
7.1
.3
.8
267.1
50.7
144.4
12.1
132.2
(D)
11.9
6.5
23.0
(D)
32.4
2.8
1.8
1.0
.8
(D)
1.0
.3
(D)
2.8
111.1
16.9
69.3
8.1
61.2
.2
5.8
5.3
8.2
5.3
12.3
4.0
3.0
2.1
.9
(*)
1.8
.7
1.3
1.6
7.0
.2
(*)
0
(*)
0
.5
1.2
CO
CO
171.3
14.1
26.0
13.0
13.0
39.6
67.9
23.7
42.5
.2
7.6
73.7
6.1
12.5
6.9
5.5
30.5
19.6
5.1
13.2
.6
.3
(*)
W
o
89.1
5.0
0
5.0
4.1
.1
.6
3.4
15.2
1.1
.5
.9
2.3
0
2.3
.2
.4
4.2
.5
.4
.1
3.2
1.9
1.2
.
Other
Services
Hotels and other lodging places
Business services ..
Computer and data processing services
Other business services
Motion pictures, including television tape and film
Engineering, architectural, and surveying services
Accounting, research, management, and related services
Health services
.
.
Other services ... .
Other industries
Agriculture, forestry, and fishing
Mining
Coal
Other
Construction .
..
Transportation
Communication and public utilities
D
.
. . . . .
.
.
Suppressed to avoid disclosure of data of individual companies.
* Less than 50 employees.
8
2.5
CO
(D)
8J
.6
3.5
6.8
.1
(*)
°9
1
6
2
1
(D)
9.6
.1
.4
(*)
2.9
(D)
1.1
(D)
630.1
17.5
8.0
1.2
6.8
9.5
51.0
16.3
3.4
12.9
34.7
12.6
6.9
15.2
169.3
14.4
2.2
(D)
18.8
.6
18.2
.3
7.2
32.8
14.4
7.7
6.7
29.8
(D)
46.3
(D)
3.'l
(D)
9.3
9.1
5.2
.7
11.8
5.7
0
CO
CO
(*)
0
(*))
(D
D
((D))
D0
5.8
CO
CO
0
CO
D
CO
' ()
1.7
1.5
8,
0
.2
0
CO
2.2
0
.2
2.2
0
2.2
0
.4
(D)
(*)
0
(*)
8
4.6
(D)
(*)
.6
.1
.7
.2
.5
.1
(D)
tf
D
(D)
( 0)
(D)
( 0)
o'
.1
0
D
( 0)
0
0
0
0
0
0
.1
0
0
0
D0
( 0)
CO
D .6
(D )
^
CO
0
(*)
(D)
(*)
(*)
0
0
0
0
CO
D0
( ).1
0
4.8
(D)
D0
()
'A
(*)
(*)
(*)
(D)
0*
.1
0
0
116.7
28.2
18.1
8.8
39.3
7.0
7.5
2.0
2.7
3.2
2.7
2.1
0
.4
(*)
7.1
(*)
0
ll
58.6
0
18.8
(D)
D
( )
.5
0
0
0
.5
2.6
0
(*)
(D)
CO
25.2
8.0
9.9
.1
7.3
(D)
11.6
4.4
.9
.1
45.7
14.3
23.9
.9
.4
3.2
.6
2.6
.2
1.7
.2
1.5
0
.6
(*)
0
.1
21.8
.6
20.2
(D)
CO
0
(*)
CO
1.8
(D)
.3
37.8
(D)
23.2
1.5
21.7
.1
2.1
2.3
2.1
(D)
16.8
1.3
(D)
CO
8
'.5
.5
0
00
2.4
0
'.2
.2
0
CO
.5
.4
23.9
2.7
5.6
D
( )
(D)
5.7
8.8
1.1
(*)
10.6
CO
(*)
Japan
32.5
345.8
CO
176.4
45.2
CO
2.2
434.1
United
States
Australia
5.0
0
5.0
186.1
(D)
31.5
32.9
(D)
2.4
.4
4.3
2.6
CO
Total
19.9
567.4
86.6
217.7
82.2
180.9
Retail trade
General merchandise stores
Food stores. .
.
!e
1.0
1.9
.4
.3
11,6
(D)
CO
Middle
East
10.5
(D)
(D)
L4
.8
2.1
.2
(D)
19.0
.4
2.8
(D)
Of which:
Africa
44.7
(D)
(D)
27.3
(D)
313.7
71.7
28.5
24.4
47.2
32.9
26.8
23.3
19.1
39.7
143.6
Asia and Pacific
.2
0
.2
165.6
38.8
7.6
11.2
7.6
23.3
18.4
18.6
16,1
24.1
Wholesale trade
Motor vehicles and equipment
,
Professional and commercial equipment and supplies
Metals and minerals, except petroleum
Electrical goods
Machinery equipment and supplies
Other durable goods
Groceries and related products
Farm-product raw materials
Other nondurable goods
. . . .'
United
Kingdom
Latin
America and
Other
Western
Hemisphere
13.0
(D)
0
o'
8
CO
(*)'.1
.1
.3
CO
6.1
0
0
0
0
°2
0
(D)
0
1.8
(*)
.6
.6
0
0
0
0
0
0
0
0
.4
.2
(*)
(*)
0
(*)
o'
8
1.0
(*)
()
(*)
8.3
(D)
D
(D)'
()
(D)
0*
.1
(D)
(*)
°2
CO
,,3
0
(D)
D0
(D)
( ).6
3.9
0
0
0
(*)
8.0
3.9
(D)
0
.1
0
D
(*)
( 0)
(*)
(*)
(D0)
(D)
8
.4
D
0
(*)
1.2
.1
0
.1
1.1
(*)
1.1
(*)
D
( )
0
D0
()
o'
.4
0
0
0
(*)
0
(*)
0
0
.3
0
0
0
0
.1
0
(*)
0
.1
.1
0
0
0
.1
43.8
.2
.3
CO
(*)
55.7
23.0
(D)
18.0
30.0
18.0
9.8
.1
9.7
.1
.3
.5
0
1.4
2.4
0
(*)
11.3
1.4
.2
0
.2
3.3
6.4
0
0
0
0
0
0
0
0
0
(*)
(D)
1.4
(D)
(D)
D
(D)
()
29.9
0
CO
CO
2.2
CO
8)
(
2.0
(D)
(D)
<3
7.0
.6
2.9
.1
3.4
(*)
(*)
0
0
0
.2
0
.3
4
108.3
27.3
18.0
8.7
38.0
6.8
3.9
1.0
2.6
2.0
16.1
6.6
6.6
0
1.5
(D)'
(D)
(D)'
1.2
1.7
7.3
7.3
0
3.4
(D)
.3
(*)
4.5
1.0
0
°3
3.2
.2
(*)
35.5
8
8.6 ^
0
0
0
3.3
D
( )
CO
CO
22.9
0
(D)
(D2.4
)
'.2
0
0
135
SURVEY OF CURRENT BUSINESS
July 1989
Table 18.—Total Assets of Nonbank U.S. Affiliates, Industry of Affiliate by Country of Ultimate Beneficial Owner, 1986
[Millions of dollars]
Europe
All
countries
United
Kingdom
Africa
76,656 137,378
19,651
80,349
Manufacturing
Food and kindred products
Beverages
Other
.
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap cleaners, and toilet goods
Other
Primary and fabricated metals
Primary metal industries
Ferrous
,
4
France
32,857
50,186
67,676
62,740
50,352
12,388
D
(D)
(D)
980
(D)
(D)
D
(D)
362
18
344
22,668
(D)
(D)
2,899
0
2,899
46,482 116,864
(D) 12,997
1,050
11,946
44,40^
13,835
619
21,633
106
35
71
10,151
7,831
474
1,445
400
2,345
987
618
369
1,358
5,127
1,431
74
1,356
3,696
15,279
362
93
270
(D)
1,088
6
(D)
0
147
(D)
(D)
14,207
5,246
24
0
24
525
341
(D)
(D)
(D)
0
(D)
11
375
120
0
26
157
n.a.
n.a.
0
18
(D)
0
0
0
24
(D)
0
6
0
10
0
0
0
0
n.a.
n.a.
0
0
0
(
^)
0
181
0
14
(D)
(*)
n.a.
n.a.
0
0
9
(D)
0
(D)
(D)
76,740
51,003
25,737
192,424
21,022
7,588
13,434
70,709
47,726
9,763
, 11,387
1,833
22,429
15,231
5,114
..
10,117
7,199
, 30,590
10,433
2,084
.
8,350
, 20,156
4,483
9,014
6,660
. . 47,674
2,018
2,053
5,264
11,124
,
n.a.
n.a.
432
1,975
.
. .
. 11,610
6,897
5,402
1,495
4,419
1,884
»
•
,
Paper and allied products
Printing and publishing
.
.
.
.
. . . . .
.
Other
3,976
D
(D)
()
Total
.
..
»
....
Retail trade
General merchandise stores
Food stores
Apparel and accessory stores
Other
Finance, except banking
Japan
15,069
98,098
18,054
()
0
(D)
773
(D)
(D)
1,215
80
1,136
274
0
274
921
80
841
D
(D)
( )
289
1,200
(D)
0
(D)
D
( )
D0
(D)
%
321
8 8
0
(D)
132
1,584
1,507
77
1,143
479
4,415
0
(D)
0
(D)
n.a.
n.a.
0
116
298
0
0
0
68
153
11,433
529
50
479
704
320
307
26
50
2,534
2,261
2,206
55
273
3,361
2,278
D
(D)
()
1,083
275
453
355
4,305
117
(D)
730
6
n.a.
n.a.
D
( )
137
111
1,426
D
(D)
(D)
( )
326
833
D
(D)
()
0
0
0
0
0
0
8
20,483
869
325
545
734
320
307
(D)
(D)
5,153
4,713
(D)
(D)
441
3,703
2,297
D
(D)
()
1,405
377
670
358
10,024
119
302
730
(D)
n.a.
n.a.
(D)
6,995
97
i
1,315
99
0
99
D
( )
0
0
D0
D
26,617 125,972
1,846
94
272
n.a.
n.a.
11
9
912
0
0
0
315
144
37,954
10,625
n.a.
2,676
1,061
n.a.
n.a.
1,844
4,806
4,373
5,369
(D)
n.a.
568
75
n.a.
n.a.
52
(D)
489
10,328
5,930
n.a.
506
68
n.a.
n.a.
(D)
49
339
778
3
n.a.
(D)
189
n.a.
n.a.
52
25
87
2,371
(D)
n.a.
(D)
39
n.a.
n.a.
(D)
1,041
110
11,960
1,201
n.a.
545
324
n.a.
n.a.
534
1,008
2,400
1,042
24
n.a.
248
15
n.a.
n.a.
327
(D)
65
1,188
(D)
n.a.
298
(D)
n.a.
n.a.
(D)
(D)
(D)
968
(D)
n.a.
596
(D)
n.a.
n.a.
(D)
0
6
42,181
12,936
n.a.
8,431
9,949
n.a.
n.a.
333
2,839
1,361
90
37
n.a.
37
0
n.a.
n.a.
0
0
4
39,050
12,137
n.a.
8,225
9,172
n.a.
n.a.
245
2,839
485
255
0
n.a.
0
0
n.a.
n.a.
12
0
(D)
16,073
n.a.
n.a.
n.a.
n.a.
532
n.a.
n.a.
n.a.
n.a.
3,078
n.a.
n.a.
n.a.
n.a.
2,826
n.a.
n.a.
n.a.
n.a.
760
n.a.
n.a.
n.a.
n.a.
6,751
n.a.
n.a.
n.a.
n.a.
1,302
n.a.
n.a.
n.a.
(D)
n.a.
n.a.
n.a.
(D)
n.a.
n.a.
n.a.
1,176
n.a.
n.a.
n.a.
(D)
n.a.
n.a.
n.a.
567
n.a.
n.a.
n.a.
43
n.a.
n.a.
n.a.
825
37
6,567
290
134
871
3,902
n.a.
n.a.
(D)
(D)
892
166
147
19
83
(D)
11,236
1,330
8,915
5,781
1,511
4,270
3,134
20,182
6,083
716
5,367
14,099
1,934
5,924
6,241
30,370
1,489
1,602
3,529
3,223
n.a.
n.a.
Ill
1,184
9,806
5,072
3,748
1,324
3,144
1,208
4,310
(*)
n.a.
632
4
n.a.
n.a.
489
57
2,254
11,069
n.a.
n.a.
n.a.
n.a.
§
United
States
Australia
637
(D)
0
(D)
174
n.a.
n.a.
0
(D)
(D)
6
0
6
(D)
D
446
2,686
809
4,512
(D)
32
( )
963
Total
3,905
319
272
210
859
n.a.
n.a.
0
451
678
317
161
156
682
117
8
8)
(
£1
!$
()
Switzerland
39,068
6,509
644
5,864
12,710
9,335
3,000
135
240
4,069
3,157
208
2,949
912
4,860
2,013
257
1,756
2,847
1,417
557
873
10,920
842
930
77
1,415
n.a.
n.a.
42
457
4,243
747
487
260
1,958
209
87,899
23,755
n.a.
12,880
11,045
n.a.
n.a.
3,044
7,800
8,902
Wholesale trade
Motor vehicles and equipment
Professional and commercial equipment and supplies
Metals and minerals, except petroleum
.
Canada
29,943
n.a.
n.a.
n.a.
n.a.
. . .
Fabricated metal products
Machinery
Machinery except electrical
Office and computing machines
.
Other
Electric and electronic equipment
Audio, video, and communications equipment
Electronic components and accessories
Other
. ..
Other manufacturing
.
Machinery equipment and supplies
Other durable goods
Groceries and related products
Farm-product raw materials
Other nondurable goods
Of which:
Middle
East
Germany,
Feder- Nethal
erlands
Republic of
838,039 130,073 437,324
AH industries
Petroleum
Petroleum and coal products manufacturing
Other
Other
Rubber products
Miscellaneous plastics products
Stone clay and glass products
Transportation equipment
Motor vehicles and equipment
Other transportation equipment
Asia and Pacific
Latin
America and
Other
Western
Hemisphere
Of which:
8
8
3
8
3,202
525
(D)
1,377
472
330
141
905
512
(°)
(D)
8,114
14
8
11
n.a.
n.a.
(D)
120
3,512
3,815
(D)
g
(D)
(D)
99
D
(D)
(D)
()
0
(D)
8
(D)
5,616
64
4,982
529
41
D
(D)
()
0
(D)
235
1,173
632
12
621
541
8 8 8
8
(
D
(D)
(27)
D
()
()
38
(D)
D
()
0
(D6)
D
(D)
( 4)
3
8
8
8
15
0
0
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
<3
8
0
<?
(D)
(D)
(D0)
1
18
4
3
1
15
1
0
14
147
0
0
(D)
(D)
n.a.
n.a.
0
0
0
0
0
0
p
l
8,278 116,127
4,491
2,578
1,364
(D)
21,275
(D)
(D)
8,878
42,384
36,556
(D)
Insurance
90,078
27,738
43,315
305
4,727
10,853
(D)
17,263
(D)
0
(D)
753
68
(D)
(D)
Real estate
66,727
20,003
23,719
664
3,027
4,016
11,301
3,527
127
9,235
9,909
922
6,425
207
Services
Hotels and other lodging places
Business services ,
Computer and data processing services
Other business services
Motion pictures including television tape and film
Engineering, architectural, and surveying services
Accounting research management, and related services
Health services
.
.
.
Other services
18,569
2,923
5,595
733
4,863
1,194
4,557
1,013
630
2,656
1,961
233
444
(D)
8,409
1,026
3,885
499
3,386
94
574
274
13
184
7
177
0
68
10
0
0
0
6
(D)
0
(D)
4,024
425
2,380
76
2,304
82
153
64
19
901
940
161
570
0
570
0
(D)
(D)
0
(D)
15
7
0
0
0
0
8
0
0
0
(D)
288
(D)
0
(D)
0
(D)
2,298
1,208
523
19
505
136
5
26
0
399
197
0
107
2
104
64
0
(D)
0
(D)
1,636
975
408
16
391
67
5
21
0
161
(D)
1
D
(D)
()
0
(D)
D0
2,078
1,569
22
138
D
(D)
()
0
100
D
(D)
(D)
()
871
113
453
136
1,099
277
510
82
428
0
137
D
(D)
()
55
25,304
2,804
11,676
8,202
3,474
3,255
4,790
2,781
6,255
87
2,860
668
2,191
256
1,926
1,125
12,122
1,711
5,104
4,176
928
2,440
1,471
1,397
(D)
195
(D)
297
(D)
720
140
667
2,267
436
916
867
50
772
142
0
(D)
43
D
(D)
()
0
149
198
1
1,014
347
149
(D)
(D)
167
D
(D)
()
3,068
408
1,219
1,084
135
362
638
441
775
652
17
(D)
(D)
10
97
0
44
37
0
0
0
7
1
0
505
163
(D)
(D)
0
77
(D)
(D)
5,573
149
(D)
(D)
325
465
1,208
(D)
8
()
(D)
82
(D)
0
Other industries
Agriculture, forestry, and fishing
Mining
Coal . .
Other
.
Construction
.
Transportation
Communication and public utilities.
D
250,356
.
.
.
.. .
.
. . . .
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
n.a. Not available.
.
i
D0
()
2,112
8
1,929
D
D
(D)
(D)
()
781
0
&)
(
D
(D)
( 0)
0
30
5
(D)
0
(D)
D0
( 0)
SURVEY OF CURRENT BUSINESS
136
July 1989
Table 19.—-Total Assets of Nonbank U.S. Affiliates, Industry of Affiliate by Country of Ultimate Beneficial Owner, 1987
[Millions of dollars]
Europe
Asia and Pacific
Of which:
All
countries
France
AH industries
.
Total
18,024 234,578
Australia
Textile products and apparel
Lumber wood furniture and fixtures
Paper and allied products
Printing and publishing
Newspapers
Other
.
Rubber products
. . . .
Miscellaneous plastics products .
. .
Stone, clav and class products
Transportation equipment
Motor vehicles and equipment
Instruments and related products
Other
Wholesale trade
.
Motor vehicles and equipment
.
Professional and commercial equipment and supplies
Metals and minerals except petroleum
Electrical goods
,
Machinery, equipment, and supplies
Other durable goods
Groceries and related products
58^40
69,958
32,180
8,642
1,193
21
1,171
D
(D)
()
755
447
0
447
25,618
(D)
(D)
2,909
D
(D)
()
5,074
0
5,074
191
0
191
1,490
80
1,411
535
0
535
953
80
873
ISO
28
152
50,228 135,654
6,798 14,740
5,972
8,768
28,404
133
(D)
(D)
14,143
11,394
575
1,725
448
2,308
1,035
626
409
1,273
5,731
13,078
14,822
(D)
0
(D)
D
(D)
()
5,842
98
5
92
568
0
(D)
1,396
(D)
0
(D)
0
0
0
0
0
22,567
864
(D)
(D)
1,596
1,065
303
37
190
5,735
5,251
(D)
(D)
484
4,844
3,087
4,407
130
(D)
CO
(°)
0
1
12
5
14,697
554
59
496
1,473
1,065
303
26
78
2,719
2,362
2,268
93
357
4,350
2,920
(D)
(D)
1,429
352
627
450
5,601
150
74
797
7
1
6
(D)
184
244
2,248
2,245
3
1,183
(D)
1,690
395
395
0
2
2
0
0
0
1,134
135
1,030
4,324
2,570
1,754
(D)
(D)
(D)
(D)
386
(D)
73
(D)
(D)
16
(D)
6,131
64
5,469
551
47
757
(D)
0
(D)
(D)
804
473
0
473
332
5
31
295
(D)
63
108
67
233
0
233
(D)
30
1,184
28
(D)
(D)
306
169
47,835
7,757
5,267
2,490
12,706
6,043
3,006
D
(D)
()
2,412
1,715
208
1,507
697
4,854
1,834
222
1,612
3,021
1,446
519
1,056
20,105
774
(D)
(D)
2,273
134
2,140
18
452
5,860
1,128
423
706
3,533
(°)
1,037
()
9,510
9,042
4,567
7,283
4,322
1,737
2,584
2,961
23,469
7,893
2,337
5,556
15,576
5,595
2,969
7,012
(D)
1,413
1,225
4,060
5,444
137
5,307
1,182
1,351
12,548
4,478
2,245
2,233
4,632
(D)
16,361
1,003
(D)
(D)
3,636
(D)
81
(D)
(D)
568
348
(D)
(D)
220
3,502
1,950
(D)
(D)
1,552
(D)
(D)
159
7,652
17
230
28
7
0
7
27
97
4,098
2,665
D
(D)
()
112
371
4,156
19
186
1,035
(D)
640
(D)
375
43
1,727
40,537
10,969
849
2,796
932
4,680
6,175
2,319
4,559
7,258
5,433
(D)
11
533
62
252
(D)
87
2,457
548
10,672
6,390
666
556
64
1,289
531
D
(D)
(D)
()
1,100
7
(D)
(D)
94
116
(D)
36
26
393
2,288
(D)
49
15
41
561
326
(D)
759
19
13,243
1,014
20
417
(D)
1,319
4,660
635
970
(D)
1,303
202
(D)
284
23
170
(D)
293
91
200
1,191
21
0
245
45,460
15,588
3,778
10,428
8,905
2,936
1,836
280
1,169
539
381
0
0
0
D0
. . . .
27,303
7,429
7,854
3,591
8,429
9,547
(D)
1,217
1,699
(D)
14,873
(D)
6,126
1,453
(D)
450
5
128
12
304
3,947
0
2,797
4
1,147
4,141
(D)
860
8
799
(D)
0
(D)
203
3,224
1
736
244
2,243
1,199
(*)
0
(D)
(D)
11
0
0
0
572
127
273
10
161
4
0
0
0
4
10,831 114,297
3,478
2,394
1,426
(D)
27,351
12,910
5380 118,935
(D)
Retail trade
.
269,641
Finance, except banking
3,407
(D)
(°)
V
(°)
(D)
139
D
(D)
()
4,749
3,107
D
(D)
( )
1,642
3,210
696
29
667
2,514
(D)
(D)
141
(D)
D
%
8
0
(D)
D
()
6,089
266
173
221
2,019
0
2,019
(D)
491
660
469
(D)
£
(D)
0
152
19
19
0
133
4,134
(D)
165
(D)
D
(D)
(D)
()
0
(D)
82
0
(D)
(D)
0
(D)
(D)
84
(D)
8)
(
D
0
2
(°)
348
336
(D)
(D)
12
0
12
0
(D)
84
0
(D)
133
0
133
0
23
(D)
0
1
D
(D)
()
D
D
(D)
( 0)
D
(13)
83
78
0
78
6
0
6
0
D
( )
0
0
0
0
0
0
D0
( 0)
0
0
D0
()
8
8
8
(D)
11
(D)
°2)
(
D
(D)
0
(D)
D
( 0)
(D)
D
(D)
( 0)
(D)
122
73
0
73
49
2
47
0
(D)
0
4
(D)
(*)
(*)
0
0
0
0
D
( )
D0
8
8
1,758
0
450
9,528
366
260
797
(D)
1
(D)
(D)
788
1,419
2,451
2,448
3
1,377
887
630
148
(D)
452
(*)
(D)
0
3
0
0
49,185
16,333
3,782
10,518
10,419
3,235
2,156
551
1,277
913
137
0
1
(D)
D
( )
1,533
528
510
14
481
( 9)
1,224 129,644
21,973 195,773
(D0)
0
(D)
D
(D)
()
37
(D)
60
(D)
(D)
0
P)
(D)
1
(D)
0
D
(D)
(12)
0
(D)
D0
(D)
(93)
463
0
0
0
3
329
340
(D)
0
34
0
(D)
(D)
0
- (*)
(D0)
(D)
(D)
20,211
( )
0
0
1,096
Real estate
65,008
1,672
8,968
2,767
141
8,889
12,520
Services
Hotels and other lodging places
Business services
. ..
Computer and data processing services
Other business services
,
Motion pictures, including television tape and film
Engineering architectural, and surveying services
Accounting research management, and related services
29,483
6,267
9,454
1,840
7,614
5,454
4,539
624
664
2,481
1,859
141
425
119
306
D
(D)
()
30
(D)
163
10,613
1,201
6,149
1,546
4,602
54
572
355
(D)
(D)
1,149
279
514
103
411
2
147
97
59
50
1,900
15
6
0
6
4
82
53
(D)
(D)
187
(*)
118
(D)
(D)
0
52
(D)
0
(D)
1,676
134
1,434
5,123
577
3,920
139
3,781
21
177
114
19
295
2,224
173
(D)
(D)
(D)
0
0
0
0
0
0
0
0
(D)
636
(D)
6
(D)
0
(D)
0
0
10
(D)
(D)
119
(D)
(D)
(D)
0
0
1
D
( )
Other industries
Agriculture forestry and fishing
28,594
2,770
12,277
5,874
6,403
3,841
5,549
4,157
6,599
80
2,584
286
2,299
167
1,717
2,051
12,455
1,454
5,473
2,185
3,289
2,344
1,701
1,483
1,866
94
(D)
2,105
367
824
745
80
781
131
1
(D)
30
83
83
0
(D)
373
0
(D)
370
2
2
0
121
4,650
349
3,112
(D)
(D)
339
742
108
&
51
43
2
2
0
4
2
0
(D)
(D)
D
(D)
( 0)
(D)
(D)
(D)
9,222
3,850
369
30
339
(D)
220
122
1
(D)
7,321
(D)
3,982
(D)
(D)
1,175
1,881
(D)
5,065
(*)
3,482
(D)
(D)
118
1,464
0
,
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
£
116
(D)
8
8)
(
D
(D)
(D)
0
10
0
(D)
(D)
91
9,614
4,047
. .. .
( 0)
(D)
(D)
134
134
0
178
2
(D)
0
0
14,330
2,659
9
27
(D)
0
(D)
0
0
0
4
0
4
0
0
4,143
3,383
248
19
230
73
220
99
0
121
5,266
467
49
0
(D)
°2
0
8,670
315
20,365
(D)
(D)
(*)
(D)
1
216
8
0
8
208
1
193
14
731
51,935
20,234
D
(D)
D
(D)
( 0)
1,238
33,961
8)
(
24,189
D
110,089
D
Japan
97,382
27,692
. . . . 4,834
. , 15,330
11,411
9,043
8,480
3,582
5,978
11,031
Electronic components and accessories
Other
Coal
Other
Construction
Transportation
Communication and public utilities
United
States
4,465
D
(D)
()
218,413
23,031
12,363
10,668
75,552
50,808
10,510
9,196
5,038
22,795
14,975
6,128
8,847
7,820
32,292
12,171
4,147
8,024
20,121
8,375
, 4,130
7,616
64,742
2,998
.
1,625
6,027
.
..
10,521
. .
2,708
...
7,813
, 2,538
3,337
15,016
7,412
<
5,079
2,333
, 7,652
7,616
. .
Food stores
Aooarel and accessory stores
Other
73,766 156,223
Africa
33,983
...
Other nondurable goods
Total
Of which:
Middle
East
66,878
57,850
9,027
80,129
58,352
21,778
.
Manufacturing
Food and kindred products
Beverages
Other
Chemicals and allied products
Industrial chemicals and synthetics .
Dru°s
Soap cleaners and toilet goods
Other
Primary and fabricated metals
Primary metal industries
Ferrous
Nonferrous
.
.
.
Fabricated metal products
Machinery
Machinery except electrical
Office and computing machines
Other
Electric and electronic equipment
Canada
926,042 140,822 467,607
.
Petroleum . . . .
.
..
Petroleum and coal products manufacturing
Other
Germany,
Swit- United
Feder- Netherlands zerland Kingal
dom
Republic of
Latin
America and
Other
Western
Hemisphere
( )
1,612
(D)
31
0
31
1,001
338
(D)
1
1
0
0
0
0
0
0
137
SURVEY OF CURRENT BUSINESS
July 1989
Table 20.—Employment and Property, Plant, and Equipment of Nonbank U.S. Affiliates, by State, 1986 and 1987
1987
1986
Millions
of dollars
Thousands of acres
Thousands of acres
Millions of dollars
Thousands of employees
Gross property, plant and equipment
Thousands
of
employees
Gross
property,
plant and
equipment
Land
owned
Mineral
rights
owned
and leased
Commercial property 3
Total
Manufacturing l
Total
Manufacturing 2
Total
Used or
operated
affiliate
Other
Land
owned
Mineral
rights
owned
and leased
2,937.9
Mideast:
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania
Great Lakes:
Illinois
Indiana
Michigan
Ohio
Wisconsin
Southeast:
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
Southwest:
Arizona
New Mexico
Oklahoma
Texas
Rocky Mountains:
Colorado
Idaho
Montana
Utah
Wyoming
Far West:
California
Nevada .
Oregon
Washington
Alaska
Hawaii
Puerto Rico
Other U5S areas 4
Foreign
D
,
,
3,159.7
1,233.4
346,212
124,803
90,886
40,503
50,383
130,523
13,829
42,531
2,333
1,425
4,079
787
491
454
7
1,664
37
113
3
46
6
65
(*)
55.3
19.1
90.8
18.5
11.0
6.0
24.2
5.4
30.5
7.0
6.9
1.8
2,910
1,299
4,967
862
588
377
1,251
491
1,498
320
333
205
1,130
361
2,379
250
113
68
398
267
986
236
39
59
732
94
1,393
14
73
9
529
447
1,090
292
142
104
7
(D)
38
(D)
2
(D)
(*)
2,897
1,402
2,935
10,507
18,022
9,507
13
(*)
56
45
437
315
i
i
i
6
105
1,231
36.9
7.1
53.3
169.3
300.1
168.5
6.9
.2
17.6
61.7
70.9
81.6
3,400
1,503
3,112
11,168
22,546
10,712
(D)
1,268
6,005
3,863
5,818
(D)
1,348
1,298
3,265
13,198
2,034
(°)
142
446
2,337
4,572
1,188
150
1,206
852
928
8,626
846
(D)
152
547
1,898
5,485
2,861
11
(*)
50
49
436
327
(*)
6
56
1,022
11,184
3,158
7,261
9,952
3,218
181
45
265
160
95
444
179
2,389
804
(D)
166.1
65.8
94.5
132.2
53.4
64.8
39.9
50.3
68.0
25.4
12,657
3,764
7,561
10,408
2,613
6,426
2,524
3,984
6,449
1,450
3,353
472
931
1,989
474
1,773
365
739
1,562
380
1,581
107
192
427
94
2,878
768
2,646
1,969
688
192
60
260
236
66
510
181
2,899
769
(D)
19.5
16.2
39.1
47.9
6.2
2.4
1.5
. . . .
52,337
153.7
57.7
89.5
129.3
57.4
.
13,991
33.6
7.1
49.9
155.8
268.2
152.6
•
320,215
48.9
20.3
74.4
17.1
11.1
7.0
Total
New England:
Connecticut
.
Maine
Massachusetts .
New Hampshire
Rhode Island
Vermont
Plains:
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota.
Leased or
rented to
others
1,565
2,155
4,297
3,482
408
1,356
399
55
68
305
94
70
39
30
(*)
1,571
45
117
687
939
96
20.5
17.8
41.0
48.5
7.2
2.7
1.9
10.4
6.6
15.8
19.2
2.3
1.1
.8
1,671
2,308
4,291
4,147
477
1,289
383
957
670
1,321
2,063
199
138
(D)
268
249
1,312
884
127
64
49
164
212
336
465
94
63
33
104
37
976
419
33
1
16
447
1,390
1,658
1,200
151
1,087
(D)
38
64
294
70
67
34
21
(*)
926
49
111
271
901
139
34.7
18.2
104.6
107.7
35.2
49.1
20.0
123.3
64.7
77.4
76.0
28.1
3,565
1,137
9,420
8,733
4,019
13,571
2,403
8,501
5,512
5,211
5,591
5,446
653
103
859
755
122
723
384
203
199
148
139
243
526
435
1,135
97
654
944
893
31
(D)
376
189
1,585
35.1
20.3
116.8
117.7
37.4
50.8
17.6
132.9
74.8
80.7
79.7
24.9
20.6
11.1
29.5
49.5
20.2
14.8
11.2
69.2
37.5
49.2
30.4
11.7
3,883
1,256
9,484
8,879
4,377
14,289
2,387
9,515
6,012
5,553
6,632
4,987
3,092
679
2,141
4,249
2,198
6,634
751
7,007
4,740
4,045
3,235
2,513
210
344
5,377
3,341
658
1,368
223
1,633
765
810
1,988
73
169
191
2,161
1,307
320
817
110
1,026
632
449
1,121
61
42
153
3,217
2,033
337
551
113
607
133
361
867
12
581
232
1,966
1,290
1,522
6,287
1,413
876
507
699
1,409
2,401
625
111
893
709
129
720
369
188
186
108
138
201
405
235
737
70
533
889
593
(D)
23
98
(D)
1,546
35.7
10.4
25.9
214.7
3,982
2,092
5,167
40,709
220
497
36
1,012
677
2,864
1,787
5,161
42.4
14.0
26.5
207.6
13.7
2.8
6.0
66.0
4,015
2,739
4,992
41,375
1,042
287
887
15,239
1,527
225
704
10,316
751
63
526
3,897
776
162
178
6,419
1,446
2,227
3,400
15,820
179
650
26
907
524
2,841
1,516
4,596
32.8
3.3
3.2
12.0
3.6
4,824
386
1,593
2,635
3,017
436
25
375
79
141
2,285
394
2,793
1,659
2,402
29.5
4.0
3.5
12.0
4.1
10.8
1.3
1.2
4.6
1.1
4,485
391
1,611
2,483
2,903
793
73
240
391
322
2,260
39
67
151
39
299
33
37
62
26
1,961
7
29
89
13
1,432
279
1,305
1,941
2,543
380
34
308
94
133
1,445
197
1,857
1,107
2,002
289.2
9.0
17.4
35.0
38,321
1,294
1,637
3,301
803
332
914
378
814
1,963
780
2,041
324.2
10.7
20.5
38.4
120.2
.5
8.0
12.6
42,607
1,590
1,785
3,577
10,983
38
608
1,494
17,060
456
586
1,267
5,783
247
297
621
11,276
210
289
646
14,565
1,095
591
816
926
322
908
389
762
1,897
530
2,074
6.4
18.4
10.9
3.2
1.9
15,140
2,013
545
15,041
2,136
13
52
1
1
0
1,203
(*)
(*)
9,417
1
7.2
22.4
11.0
3.6
1.7
2.3
.8
7.0
.2
.3
18,390
3,203
507
15,159
2,134
347
(D)
155
%
(D)
2,744
36
206
106
«&
29
75
831
7
43
36
(D)
366
124
(D)
1,874
21
57
1
2
0
660
1
(*)
6,853
0
8
Suppressed to avoid disclosure of data of individual companies.
* Less than 500 acres.
1. Consists of all employees on the payroll of manufacturing plants located in the State. Employees on the
payroll of petroleum refineries are included. Also included are employees in central administrative offices and
auxiliary units if these units primarily serve manufacturing plants.
2. See footnote 1 to table 1.
163
70
42
(D)
(D)
(*)
3. See footnote 2 to table 3.
4. See footnote 1 to table 9.
5. For employment, consists of employees of U.S. affiliates working abroad. For assets, consists primarily of
movable fixed assets temporarily located outside the United States and of any foreign assets, including mineral
rights carried on the U.S. affiliates' books.
SURVEY OF CURRENT BUSINESS
138
July 1989
Table 21.—Employment by Nonbank U.S. Affiliates, State by Country of Ultimate Beneficial Owner, 1986
[Thousands of employees]
Europe
All
countries
Switzerland
United
Kingdom
Latin
America
and
Other
Western
Hemisphere
183.0
622.9
128.0
Of which:
Canada
Total
Germany,
Federal
Republic
of
France
312.4
Netherlands
2,937.9
609.2
1,783.2
177.9
48.9
20.3
74.4
17.1
11.1
7.0
6.3
9.8
17.5
4.6
1.6
2.1
37.4
8.1
43.4
8.1
9.1
4.4
3.4
.5
1.7
.4
1.4
.2
7.6
.6
8.4
1.1
1.4
.5
6.3
1.6
3.4
.8
P)
(*)
1.9
.1
4.5
.5
.4
1.0
12.7
4.5
19.8
4.5
3.1
(D)
33.6
7.1
49.9
155.8
268.2
152.6
'1.4
13.6
18.1
41.5
32.5
6.5
3.4
32.7
111.0
165.5
100.9
.2
.1
5.9
9.3
10.3
14.2
1.3
.2
5.0
23.7
20.7
21.4
.2
.1
7.5
12.2
13.1
8.5
°3
2.0
21.4
22.9
6.4
4.0
.8
7.9
27.4
66.4
40.1
153.7
57.7
89.5
129.3
57.4
27.7
15.5
19.6
17.3
13.4
96.8
37.7
54.0
85.1
39.5
7,0
2.2
11.5
10.5
7.1
14.9
8.8
14.2
10.1
7.4
10.7
11.5
2.0
5.7
3.9
12.2
1.9
2.2
10.0
6.8
19.5
16.2
39.1
47.9
6.2
2.4
1.5
7.3
2.3
12.7
14.5
.7
1.0
.6
10.7
12.3
24.2
28.6
4.8
1.0
.7
.7
1.9
1.5
1.0
.7
.1
(*)
2.6
1.8
3.0
4.6
P)'?
(*)
1.6
3,1
2.4
7.3
.3
.1
(D)
34.7
18.2
104.6
107.7
35.2
49.1
20.0
123.3
64.7
77.4
76.0
28.1
6.8
3.8
26.3
21.3
8.5
9.9
3.5
26.8
7.6
18.1
24.0
13.3
20.4
11.3
60.5
64.5
20.9
27.5
11.2
86.4
49.9
45.6
42.0
13.9
3.9
1.6
4.4
5.1
3.8
1.3
2.6
5.6
7.7
7.0
2.4
(D)
2.4
.7
8.3
9.3
3.9
5.5
1.7
21.2
12.5
5.9
10.7
4.0
35.7
10.4
25.9
214.7
9.6
.9
8.9
43.0
20.5
7.9
12.6
131.9
2.6
.3
1.3
14.6
Utah
Wyoming
32.8
3.3
3.2
12.0
3.6
7.5
.9
1.4
2.1
.7
21.0
1.8
1.0
7.8
1.7
Far West:
California
Nevada
Oregon
Washington
289.2
9.0
17.4
35.0
34.8
2.1
4.2
12.2
153.8
6.0
10.4
15.0
6.4
18.4
10.9
3.2
1.9
.9
.7
1.5
(D)
2.1
1.8
6.0
.6
1.2
Total
New England:
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
.
Mideast:
Delaware . .
District of Columbia
Maryland
,
New Jersey
New York
Pennsylvania
.
....
. . .
Great Lakes:
Illinois . . . .
Indiana
Michigan
Ohio
Wisconsin
Plains:
Iowa
Kansas
Minnesota
Missouri
Nebraska
.
North Dakota.
South Dakota.
,
.
. . .
242.4
Asia and Pacific
Middle
East
Africa
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
,
,
,
,
,
,
,
Southwest:
Arizona
New Mexico... .
Oklahoma
Texas
,
Rocky Mountains:
Colorado
Idaho
»,
P)
(D)
(D)
1.0
P)
P)
P)
.4
(*)
1.5
(*)
0
0
2.5
.1
5.6
()
0
P)
P)
2.7
P)
.1
.2
.6
5.8
1.2
.3
.5
2.4
18.9
29.3
6.6
2.1
.1
.1
.7
1.1
20.2
3.6
11.7
17.7
3.3
P)
8
6.0
39.1
10.3
16.6
36.5
10.1
2.5
.2
3.0
6.5
.1
.8
1.2
1.0
2.6
3.5
1.0
.1
(*)
2.4
2.9
9.7
. 8.6
1.9
.3
.5
.1
.4
.4
.8
.1
.1
1.3
3.9
7.6
9.6
3.8
8.3
.5
5.1
10.5
8.3
3.3
3.3
2.1
.3
6.9
4.5
.7
1.6
1.6
4.9
4.7
3.1
2.4
.6
8.4
2.8
22.1
24,2
7.4
7.7
3.8
29.3
9.1
14.0
14.7
3.9
1.6
.5
8.0
5.9
.6
9.1
1.7
2.5
2.7
1.9
5.2
.2
1.0
P)
2.1
23.9
4.1
1.7
3.8
31.1
1.1
.2
.7
10.8
10.9
2.0
3.8
39.9
.7
.5
1.9
13.2
8
1.9
.1
*>6
1.0
.3
(D)
3.0
,
.4
1.0
(D)
P)
.1
11.6
.4
.6
3.7
.8
53.5
2.7
2.8
5.6
Alaska
Hawaii
Puerto Rico
Other U2 S areas l
Foreign
D
.
Suppressed to avoid disclosure of data of individual companies.
* Less than 50 employees.
1. See footnote 1 to table 9.
2. See footnote 2 to table 9.
(
.4
.6
(*)
15.0
1.0
.4
.8
24.1
.7
4.3
2.8
24.9
1.0
.7
1.4
22.7
.2
1.1
2.7
P)
(*)
(*)
P)
w
'.5
(D)
.6
0
.1
P)'
0
P)
..9
2
n
3
<?3
2.9
.3
.4
Australia
39.5
'.9
4.2
14.3
10.0
1.6
.2
(*)
Total
26.7
P)
.4
P)
P)'
.3
P)
P)'
P)
.6
W
3
P)
%
(*)
P)
2.8
.2
(D)
2.7
D
(D)
()
(D)
!i
.1
1.6
8.4
2.4
.2
1.8
15.4
17.9
3.7
(D)
(D)
.1
(D)
5.8
.8
3.6
.4
1.0
2.6
.9
15.6
3.2
10.6
9.8
2.3
3.6
0
(*)
8
(D)
(D)
(D)
.9
.1
1.9
1.7
1.4
.2
.1
2.0
.6
.8
.5
(D)
3.5
1.9
3.3
8.1
2.1
.2
(D)
3.6
2.1
8.1
1.5
.1
.2
.1
.7
5.6
3.0
(D)
1.3
16.9
2.1
(D)
7*.l
.7
.1
.6
7.4
2.4
.6
P)
1.0
P)
.9
(D)
P)
1.2
(*)
(*)
(D)'
(D)'
%
(*)
4.3
80.9
.7
2.4
6.5
12.0
.1
.4
2.1
61.0
(D)
1.8
4.1
8)
(
2.8
13.7
1.9
1.5
.3
.5
1.1
(D)
0
(D)
2.3
10.9
1.9
1.0
.3
(D)
D
(D)'
(D)
()
12.4
.1
.2
(D)
1.2
P)
(*)
P)
P,
P)
^
1.8
.1
3.5
()
D
4.8
2.1
6.2
10.3
3.7
.8
3.0
6.3
2.8
9.6
2.3
.7
8
P)
P)
0
.6
P)
1.4
D
()
(D)
(D)
2.5
2.2
.6
1.1
.2
.7
1.5
1.0
2.0
.1
P)
*'i
<D0
29.7
S
(
.6
2.1
P)
.8
0
!i
220.8
<3
P)
0
0
.2
0
0
P)
0
.5
D
65.6
(D)
(*)
I
P)
321.7
United
States
Japan
.9
.3
1.5
2.7
.4
(*)
(*)
P)
Southeast:
Arkansas
Florida
Of which:
<3.4
8
'.9
.4
.2
1.0
1.1
J
(D)'
P)
o'
®.8
8
,
^
8
(D)
(*)
(D)
(*)
(D)
1.2
(D)
.3
1.7
D
139
SURVEY OF CURRENT BUSINESS
July 1989
Table 22.—Employment by Nonbank U.S. Affiliates, State by Country of Ultimate Beneficial Owner, 1987
[Thousands of employees]
Europe
All
countries
Canada
Germany,
Federal
Republic
Total
France
Netherlands
Switzerland
United
Kingdom
183.4
630.1
143.6
.
,
,
•
'.
Southeast:
Alabama.. ..
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
,
. ....
,
.
Southwest:
Arizona
New Mexico
Oklahoma
Texas
.
Rocky Mountains:
Colorado
Idaho
Montana
Utah
Wyoming
Far West:
California
Nevada...
Oregon
Washington
434.1
90.0
284.6
35.5
.1
(D)
0
1.6
(*)
(*)
0
3.6
.6
10.3
1.8
.4
.2
.9
.5
2.1
(*)
(*)
(*)
2.4
.2
7.8
1.8
.3
(D)
.1
.1
2.6
(D)
.1
.1
.7
.1
1.6
1.3
.7
.8
3.4
22.2
48.6
8.6
(*)
3.4
10.9
3.1
.4
.3
2.6
16.1
35.5
5.0
1.5
.1
.1
.7
1.0
24.4
• 4.2
18.5
20.2
3.4
3.0
.6
4.2
3.1
1.1
20.4
3.7
13.6
11.6
1.8
3.6
.2
.9
1.6
(*)
5
1.0
.7
3.4
2.7
.6
.1
.1
.1
.4
.2
1.2
.3
(*)
(*)
.6
.4
2.3
1.4
.3
(*)
.1
.1
.1
.8
.2
2.4
(°)
.8
.9
.1
1.1
2.9
1.0
1.3
.1
5.6
2.7
8.6
16.6
4.2
4.1
3.8
6.7
3.7
10.1
3.0
.6
P)
°.
20
2.2
1.4
.3
.5
1.8
.8
1.4
.6
.4
4.0
1.5
5.4
10.2
2.6
.5
1.3
4.1
2.3
7.9
2.1
.1
(D)
10.0
1.1
1.6
19.3
7.3
P)
.8
7.9
1.7
(*)
2.9
.7
.8
1.0
.7
1.2
.5
.7
.2
.7
1.3
.1
.1
.2
(*)
(*)
(*)
(*)'
103.4
2.9
4.2
8.9
13.7
.7
1.2
2.1
68.5
(D)
2.8
6.2
2.6
(*)
(*)
.
.
...
(*)
0
0
.1
(*)
2.6
19.2
2.4
1.6
.5
.5
1.4
.3
0
0
4.2
.8
6.7
.4
.6
(°)
10.2
.8
10.4
2.4
1.6
(D)
5.9
1.6
3.0
1.6
.4
(*)
1.5
.1
2.9
.5
.6
.8
15.5
4.1
22.0
4.8
2.9
.2
(°)
8.4
3.6
33.1
119.8
191,3
109.8
.1
.1
4.4
9.9
10.3
14.5
1.6
.2
6.5
27.1.
39.4
23.0
.2
.2
6.9
14.2
15.8
12.3
.3
.3
2.1
22.6
24.8
6.0
4.5
1.1
8.9
27.4
66.2
42.4
0
25.3.
14.3
18.7
19.4
12.7
106.8
46.0
52.6
81.9
36.0
6.9
8.6
8.0
5.2
2.1
16.9
9.9
14.3
10.1
8.7
11.3
10.1
2.9
6.3
4.4
16.6
1.7
1.9
10.3
6.3
40.1
10.6
16.4
38.1
10.3
3.9
.7
3.2
8.2
.3
.6
.4
.4
.2
.1
6.9
2.3
9.9
15.1
1.3
1.0
.9
12.0
12.6
26.9
27.8
4.9
, 1.3
.8
.8
1.9
2.2
1.1
.8
.1
(*)
2.5
1.6
3.2
4.1
.8
(*)
(*)
2.0
3.3
4.4
6.8
.4
.2
.2
1.2
1.3
2.5
2.9
1.0
.1
(*)
2.5
2.8
9.5
9.0
1.8
.8
.6
.1
1.3
.7
1.4
.3
.1
(*)
.5
.8
.1
(*)
(*)
'.1
(*)
(*)
35.1
20.3
116.8
117.7
37.4
50.8
17.6
132.9
74.8
80.7
79.7
24.9
6.7
3.7
27.1
22.4
9.1
10.2
3.0
29.2
8.4
16.1
20.9
12.9
20.1
12.5
61.4
66.9
21,6
27.4
8.3
92.7
57.0
50.0
49.1
11.2
4.6
2.3
5.1
5.3
4.5
1.5
2.0
5.6
9.0
7.3
2.7
(°)
2.2
.6
6.0
10.1
6.0
4.4
1.3
25.8
14.8
6.6
14.6
2.9
1.2
4.0
9.0
11.2
2.5
8.4
.6
6.2
12.1
8.9
3.4
2.0
2.1
1.0
4.0
4.8
.8
1.7
1.6
4.8
4.6
3.1
2.4
.3
7.6
2.6
24.9
24.7
6.7
8.2
2.0
27.9
9.6
15.4
14.4
3.4
1.6
1.1
15.8
5.3
.8
7.4
1.8
2.7
2.3
2.5
5.1
.1
9.1
.9
8.2
30.1
20.1
10.7
13.4
134.0
5.4
.4
2.1
12.9
1.2
(°)
2.1
27.8
4.5
1.9
4.1
34.9
1.0
.2
.9
10.5
6.0
2.1
3.3
36.5
1.0
.6
2.5
15.8
6.3
1.2
1.4
1.9
.7
18.7
2.1
1.3
8.3
2.4
1.7
.2
.3
.2
1.1
1.4
.1
!l
2.7
.4
.3
2.1
.3
1.7
.7
.2
.8
.1
9.3
.6
.4
4.2
.8
10.7
20.5
38.4
32.5
2.7
4.1
11.8
169.9
4.7
11.7
16.2
15.8
.1
.4
.9
25.7
.5
4.3
3.2
28.5
1.1
.9
2.4
21.9
.3
1.1
2.4
59.9
2.4
3.1
5.8
12.6
.2
.3
1.1
7.2
22.4
11.0
3.6
1.7
1.8
.7
.9
.1
.2
2.2
1.0
6.3
.9
1.0
(*)
(*)
.5
.1
.7
0
.2
.2
.2
1.1
.2
.2
1.5
.4
3.0
.7
.5
.4
20.5
17.8
41.0
48.5
7.2
2.7
1.9
,
Suppressed to avoid disclosure of data of individual companies.
* Less than 50 employees.
1. See footnote 1 to table 9.
2. See footnote 2 to table 9.
32.5
269.5
324.2
> ..
(*)
.1
.3
(*)
.1
.7
0
.1
'
.4
5.4
(D)
m
.9
.1
.1
(°)'
,
1.5
4.8
12.7
9.9
(*)
0
(")
(*)
«.
(°)
(*)
.3
.2
1.0
"j
A
.1
.2
.4
.1
.2
(*)
(D)
(*)
L8
(*)
.'l
'.3
.9
.9
0
A
5.0
.2
.3
.8
(*)
(*)
(D)
Japan
19.9
363.3
29.5
4.0
3.5
12.0
4.1
. . .
.
United
States
Total
Australia
42.4
14.0
26.5
.. .
Ohio . .
Wisconsin
D
(°)
2.0
14.5
19.3
39.0
34.7
183.6
Middle
East
Africa
207.6
..
Alaska
Hawaii
Puerto Rico
Other U.S. areas '
Foreign 2
42.5
8.2
52.3
10.2
8.0
3.6
166.1
65.8
94.5
132.2
53.4
, .
.
6.8
9.7
17.7
4.7
2.3
(D)
36.9
7.1
53.3
169.3
300.1
168.5
.
Mideast:
Delaware
District of Columbia
Maryland
i
New Jersey
New York
.
Pennsylvania
Plains:
Iowa
Kansas
Minnesota
Missouri, .
Nebraska
North Dakota
1,903.7
55.3
19.1
90.8
18.5
11.0
6.0
Total
New England:
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont.
Great Lakes:
Illinois
Indiana
590.5
Of which:
and
Other
Western
Hemisphere
of
3,159.7
Asia and Pacific
Latin
America
Of which:
(*)
1.5
.1
(*)
(*)
(*)
(*)
1.7
(*)
(*)
(*)
0
0
(*)
0
!e
8.6
.
2.0
15.8
2.1
1.3
.5
!i
(D)
D '.i
(D)
()
3.7
<*)
(*)
(*)
0
.1
(*)
1.2
.7
.4
.5
.3
.1
.9
.1
(*)
.5
.7
.1
1.5
.3
.6
(*)
(D)
.2
.4
(*)
0
140
SURVEY OF CURRENT BUSINESS
July 1989
Publications and Diskettes
on Foreign Direct Investment in the United States
Additional detail from the 1987 and 1980 benchmark surveys and the 1977-79 and 1981-86 annual surveys-including data
on U.S. affiliates' balance sheets and income statements; external financial position; property, plant, and equipment;
employment and employee compensation; U.S. merchandise trade; research and development expenditures; and U.S. land
owned and leased-are available in the publications beldw. The estimates for all years, 1977-87 are also available on computer
diskette.
The 1977-85 publications, and the diskettes for all years, may be obtained from Economic and Statistical Analysis/BEA,
U.S Department of Commerce, Citizens and Southern National Bank, 222 Mitchell Street, P.O. Box 100606, Atlanta, GA
30384. Make checks or money orders payable to "Economic and Statistical Analysis/BEA." Include the return address with
the order. The titles, accession numbers, and prices of the publications and the years, accession numbers, and prices of the
diskettes, which should be quoted when ordering, are as follows:
Publication
Year
Title
1977
1978
1979
1980
Foreign Direct Investment in
the United States: Operations
of US. Affiliates, 1977-80
1981
Foreign Direct Investment in
the United States: Annual Survey
Results, Revised 1981 Estimates
1982
1983
1984
1985
1986
1987
Foreign Direct Investment in
the United States: Operations
of U.S. Affiliates of Foreign Companies:
Revised 1982 Estimates
Revised 1983 Estimates
Revised 1984 Estimates
Revised 1985 Estimates
Revised 1986 Estimates
Foreign Direct Investment in
the United States: 1987 Benchmark Survey, Preliminary Results
Accession
Number
Price
Diskette
Accession
Number
BEA IID 87-403
BEA IID 87-404
BEA IID 87-405
BEA IID 87-406
Price
$20.00
20.00
20.00
20.00
BEAIID85-150
$7.00
BEA IID 84-101
5.00
BEA IID 87-407
20.00
BEA IID 85-101
BEA IID 86-101
BEA IID 87-101
BEA IID 88-101
i
5.00
5.00
5.00
5.00
i
BEA
BEA
BEA
BEA
BEA
IID 87-408
IID 86-401
IID 87-401
IID 88-401
IID 89-401
20.00
20.00
20.00
20.00
20.00
BEA IID 89-402
20.00
i
i
1. Not available from BEA. To be ordered from the Superintendent of Documents, U.S. Government Printing Office. See text.
The following two publications must be ordered from the Superintendent of Documents, U.S. Government Printing Office
(GPO), Washington, DC 20402: Foreign Direct Investment in the United States: Operations of U.S. Affiliates of Foreign
Companies, Revised 1986 Estimates (GPO Stock No. 003-010-00190-9) and Foreign Direct Investment in the United States:
Benchmark Survey, Preliminary Results (GPO Stock No. 003-010-00188-7). Prices for these publications may be obtained
from GPO by calling (202) 783-3238.
The publication Foreign Direct Investment in the United States, 1980, which contains detailed results of the 1980
benchmark survey and a methodology for foreign direct investment in the United States, may be obtained from Economic and
Statistical Analysis/BEA, Accession No. 83-101, price $10.00. Note however, that some 1980 data in that publication have
been superseded by those in Foreign Direct Investment in the United States: Operations of U.S. Affiliates, 1977-80 and in the
diskette for 1980 listed above.
BEA can prepare additional tabulations or perform regressions or other statistical analyses of the data at cost, within the
limits of available resources and subject to legal requirements to avoid disclosure of data of individual companies. Requests
should be directed to International Investment Division (BE-50), Data Retrieval and Analysis Branch, Bureau of Economic
Analysis, U.S. Department of Commerce, Washington, DC 20230
141
SURVEY OF CURRENT BUSINESS
July 1989
State Personal Income, Summary Estimates for First Quarter 1989
Table 1.—Total Personal Income, States and Regions
[Millions of dollars, seasonally adjusted at annual rates]
I
United States '
,
3,786,079
3,902,016
3,922,767
3,994,017
4,075,042
4,198,095
4,297,169
2.4
9.5
..
234,559
67,060
16,333
109,737
18,510
15,179
7,740
241,135
68,682
16,790
112,926
19,185
15,609
7,943
248,562
71,058
17,282
116,146
19,922
16,014
251,554
71,809
17,449
117,867
20,106
16,130
8,193
261,849
74,388
18,258
122,545
21,090
16,911
8,658
269,841
77,772
18,735
125,721
21,669
17,194
8,750
275,678
79,022
19,147
128,715
22,126
17,606
8,139
255,695
72,552
17,792
119,930
20,502
16,535
8,385
9,061
2.2
1.6
2.2
2.4
2.1
2.4
3.6
9.6
10.0
9.7
9.2
10.1
9.1
10.6
754,224
10,475
12,292
81,340
153,305
317,355
179,456
769,859
10,782
12,579
83,053
157,101
323,452
182,891
792,526
11,088
13,022
85,672
162,137
332,672
187,936
801,785
11,213
12,845
86,959
164,516
337,092
189,159
810,117
11,486
13,236
87,846
165,545
340,797
191,207
831,024
11,915
13,619
90,756
170,455
347,705
196,574
858,354
12,127
14,093
92,571
177,373
361,222
200,968
873,247
12,440
14,371
94,737
179,799
366,797
205,104
1.7
2.6
2.0
2.3
1.4
1.5
2.1
8.9
10.9
11.9
8.9
9.3
8.8
8.4
628,279
186,949
75,849
140,365
155,397
69,719
638,472
190,015
77,074
142,151
158,159
71,073
659,305
197,705
80,074
145,766
162,424
73,336
664,052
199,986
80,955
147,290
162,676
73,145
671,381
200,668
81,162
148,873
166,449
74,229
685,443
204,026
82,905
153,440
169,761
75,311
702,724
210,569
83,401
157,530
173,568
77,655
723,825
217,824
87,550
160,621
177,420
80,411
3.0
3.4
5.0
2.0
2.2
3.5
9.0
8.9
8.1
9.1
9.1
9.9
256,998
40,257
36,823
66,267
73,326
22,575
8,965
8,785
256,020
38,859
37,325
66,260
73,929
22,151
8,693
8,802
256,682
38,606
37,132
67,228
74,925
21,895
8,250
8,644
272,674
43,593
38,724
70,377
77,117
24,562
8,930
274,594
41,782
39,867
71,395
78,940
24,900
8,645
9,066
272,409
41,412
39,334
71,578
79,973
23,921
7,711
8,480
279,235
41,576
40,893
73,279
81,782
24,347
8,389
8,969
294,782
46,113
41,675
77,519
84,229
25,937
9,494
9,371
271,867
42,726
38,632
71,039
77,241
24,004
8,985
9,240
9,816
5.6
10.9
1.9
5.8
3.0
6.5
13.2
9.4
8.4
7.9
7.9
9.1
9.0
8.1
5.7
6.2
758,804
47,431
27,289
179,830
85,966
43,215
50,713
26,698
82,483
39,845
60,651
94,177
20,506
773,389
48,176
27,384
184,547
87,924
44,204
50,614
26,710
84,488
40,743
61,615
96,261
20,723
789,496
49,148
27,545
189,329
89,966
45,156
51,129
27,197
86,258
41,509
62,846
98,526
20,887
811,460
50,369
28,002
195,804
92,535
46,271
52,422
27,548
88,431
42,721
64,977
101,059
21,322
814,078
50,192
28,280
195,798
92,421
46,460
52,326
27,882
89,236
42,948
64,946
102,065
21,524
835,376
51,762
29,890
201,343
94,859
47,220
53,688
28,837
90,964
44,217
66,436
104,396
21,765
853,257
52,554
29,636
207,821
96,832
48,008
54,250
29,109
93,213
45,008
67,872
106,919
22,036
875,813
53,802
30,047
214,963
99,623
48,602
55,996
29,519
95,394
46,104
69,718
109,608
22,436
899,435
54,946
32,428
219,783
101,643
50,278
57,372
30,780
97,845
47,301
71,361
112,820
22,878
2.7
2.1
7.9
2.2
2.0
3.4
2.5
4.3
2.6
2.6
2.4
2.9
2.0
10.5
9.5
14.7
12.2
10.0
8.2
9.6
10.4
9.6
10.1
9.9
10.5
6.3
337,153
47,926
17,700
40,787
230,740
341,534
48,616
17,895
41,250
233,773
348,765
50,284
18,294
41,680
238,507
348,386
50,135
18,160
42,443
237,649
358,094
51,639
18,774
43,048
244,633
362,176
53,058
18,879
43,528
246,711
373,629
54,549
19,415
44,510
255,156
379,205
55,395
20,008
45,057
258,746
1.5
1.6
3.1
1.2
1.4
8.8
10.5
10.2
6.2
8.9
98,805
51,483
12,007
20,518
6,457
107,484
55,924
13,064
10,772
21,220
6,504
108,822
56,709
13,378
10,786
21,331
6,261
102,989
53,707
12,531
10,155
20,071
6,526
103,935
54,318
12,722
19,208
6,235
100,652
52,766
11,996
9,967
19,636
6,287
100,379
52,398
12,215
6,108
98,194
51,071
11,852
9,939
19,044
6,288
6,618
1.2
1.4
2.4
.1
.5
1.8
8.4
8.2
9.5
8.2
9.2
5.7
598,755
476,768
15,829
37,038
69,120
...
,
614,136
489,569
16,248
37,893
70,426
623,344
496,781
16,729
38,498
71,336
640,706
511,066
17,253
39,298
73,088
643,019
511,380
17,496
39,885
74,260
657,561
523,019
18,089
40,748
75,706
676,247
539,338
18,746
41,303
76,860
701,329
560,192
19,584
42,762
78,790
711,951
567,058
20,119
43,490
81,284
1.5
1.2
2.7
1.7
3.2
10.7
10.9
15.0
9.0
9.5
9,638
16,723
9,642
17,110
9,703
17,662
9,754
17,893
9,954
18,256
10,050
18,652
10,161
19,525
10,456
19,768
2.9
1.2
7.2
10.5
234,559
650,116
628,279
256,020
618,795
180,705
349,525
180,068
624,249
241,135
663,444
638,472
256,682
632,891
184,346
353,696
182,046
633,367
248,562
682,745
659,305
272,674
651,653
189,165
360,611
186,483
650,817
261,849
714,734
685,443
272,409
688,119
197,543
374,124
194,618
686,203
269,841
739,563
702,724
279,235
706,920
201,641
385,709
201,031
711,431
275,678
751,700
723,825
294,782
723,817
207,365
393,602
204,343
722,057
2.2
1.6
3.0
5.6
2.4
2.8
2.0
1.6
1.5
9.6
8.8
9.0
8.4
10.5
9.4
9.1
9.8
10.5
....
.,
..,
....
.
,
,
,
< ..
,
,
,
.
Southeast
Alabama
Arkansas
.
Florida
Georgia
Kentucky
Louisiana
•
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
,
.
...
,
.
... .
. . . . . . .
'
,
,
,
,
,
,
,
Southwest
Arizona
New Mexico
Oklahoma
Texas
Rocky Mountain
Colorado
Idaho
Montana
Utah
Wyoming
3,722,315
.
,
,
.
,
,
,
Far West
California
Nevada
Oregon
. .
Washington ...
...,
,
,
..
..
,
,
.
...
9,512
Alaska
Hawaii
1988:11989:1
229,325
65,482
15,929
107,453
18,046,
14,883
7,532
,
Plains
Iowa
Kansas
Minnesota ......
Missouri
Nebraska
North Dakota
South Dakota ..
I'
3,664,374
...
,
IV
.
,
Great Lakes
Illinois
Indiana
Michigan
Ohio
Wisconsin
IIP
96,584
50,270
11,569
10,009
18,629
...
,.,...,
.
IP
I
334,227
46,873
17,298
40,649
229,408
.
.
Mideast
.
Delaware
District of Columbia
Maryland
New Jersey
New York
IV
623,858
186,142
75,317
139,451
154,009
68,939
.
,
.
III
Percent change
1988:IV1989:1
739,925
10,181
12,006
79,597
151,095
311,195
175,851
.
New England
Connecticut .
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
II
1989
1988
1987
State and region
16,386
<
9,871
9,971
19,535
9,919
Census Regions
New England
Middle Atlantic
East North Central
West North Central
South Atlantic
East South Central
West South Central
Mountain
Pacific
,
,
.
...
,
..
.
.
.
.
.
229,325
638,141
623,858
256,998
604,592
177,995
348,058
176,583
608,824
T
Revised.
' Preliminary.
1. The personal income level shown for the United States differs from that in the national income and product accounts primarily because it omits the earnings of Federal civilian and military personnel stationed abroad
and of U.S. residents whp are employed abroad temporarily by private U.S. firms.
251,554
690,767
664,052
271,867
655,009
189,480
360,698
186,168
653,171
255,695
697,549
671,381
274,594
670,111
194,255
371,259
191,491
667,682
NOTES:
—The estimates for 1986 through the first quarter of 1989 do not reflect the July 1989 revisions to the
national income and product accounts; those revisions will be incorporated in the quarterly estimates of State
personal income that will be published in the October 1989 SURVEY OF CURRENT BUSINESS.
—The quarterly estimates of State personal income were prepared by Isabelle B. Whiston and James P.
Stehle, under the supervision of Robert L. Brown.
Data Availability
Quarterly estimates for the years 1969-86 are available from the Regional
Economic Information System, BE-55, Bureau of Economic Analysis, U.S.
Department of Commerce, Washington, DC 20230; or call (202) 523-0966.
142
SURVEY OF CURRENT BUSINESS
July 1989
Table 2.—Nonfarm Personal Income, States and Regions
[Millions of dollars, seasonally adjusted at annual rates]
1989
1988
1987
State and region
I
II
III
IV
I
II'
IIP
IV
IP
Percent change
1988:IV1989:1
1988:11989:1
3,611,231
3,672,585
3,743,588
3,848,135
3,869,406
3,941,984
4,038,463
4,164,747
4,232,578
1.6
9.4
228,660
65,325
15,785
107,280
18,013
14,843
7,413
233,760
66,872
16,170
109,528
18,472
15,127
7,590
240,348
68,500
16,626
112,727
19,144
15,558
7,793
247,902
70,904
17,138
115,980
19,888
15,973
8,019
250,951
71,666
17,353
117,681
20,069
16,089
8,093
255,072
72,397
17,698
119,740
20,464
16,491
8,282
261,187
74,225
18,154
122,345
21,049
16,864
8,550
269,283
77,638
18,633
125,560
21,636
17,157
8,660
274,934
78,848
19,030
128,472
22,084
17,555
8,946
2.1
1.6
2.1
2.3
2.1
2.3
3.3
9.6
10.0
9.7
9.2
10.0
9.1
10.5
737,530
10,042
12,006
79,242
150,827
310,548
174,866
751,320
10,313
12,292
80,930
152,975
316,587
178,224
767,142
10,635
12,579
82,689
156,794
322,704
181,741
789,996
10,951
13,022
85,297
161,866
331,948
186,912
799,423
11,037
12,845
86,570
164,249
336,504
188,218
807,781
11,292
13,236
87,432
165,274
340,264
190,283
828,743
11,699
13,619
90,358
170,192
347,207
195,668
856,354
11,937
14,093
92,216
177,145
360,745
200,218
870,323
12,176
14,371
94,239
179,456
366,186
203,896
1.6
2.0
2.0
2.2
1.3
1.5
1.8
8.9
10.3
11.9
8.9
9.3
8.8
8.3
617,236
184,212
74,032
138,725
153,064
67,204
623,166
185,891
75,028
139,792
154,481
67,974
634,781
189,680
76,672
141,616
157,515
69,299
650,024
194,420
78,747
144,615
161,077
71,164
655,866
197,022
79,034
146,535
161,517
71,759
666,521
199,057
80,427
148,288
165,667
73,082
684,258
204,335
82,785
153,189
169,427
74,522
703,120
211,236
84,554
157,136
173,564
76,630
715,106
214,957
85,837
159,779
176,281
78,251
1.7
1.8
1.5
1.7
1.6
2.1
9.0
9.1
8.6
9.0
9.1
9.0
Missouri
Nebraska
North Dakota
South Dakota
243,591
36,445
34,942
63,978
72,339
20,306
7,820
7,762
246,655
37,121
35,515
64,683
73,135
20,474
7,888
7,837
250,329
37,637
36,001
65,726
74,217
20,816
7,982
7,951
256,187
38,740
36,758
67,359
75,856
21,240
8,087
8,148
257,588
38,687
36,738
68,268
76,064
21,508
8,159
8,163
262,969
39,513
37,662
69,640
77,779
21,749
8,241
8,384
267,443
40,343
38,159
70,716
79,393
22,071
8,341
8,420
274,335
41,449
39,130
72,966
80,997
22,625
8,493
8,675
280,249
42,252
40,011
74,573
82,847
23,103
8,683
8,779
2.2
1.9
2.3
2.2
2.3
2.1
2.2
1.2
8.8
9.2
8.9
9.2
8.9
7.4
6.4
7.5
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
..
Mississippi
North Carolina.
South Carolina.
Tennessee
Virginia
West Virginia
747,324
46,563
25,657
177,559
84,779
42,508
49,855
25,583
81,066
39,531
60,009
93,737
20,477
761,519
47,290
26,100
181,743
86,587
43,182
50,202
25,889
82,815
40,396
60,927
95,699
20,689
778,467
48,283
26,509
186,666
88,743
44,129
50,762
26,416
84,687
41,205
62,197
98,017
20,852
802,076
49,671
27,198
193,682
91,446
45,330
52,110
27,047
86,993
42,400
64,365
100,539
21,296
802,373
49,221
27,150
192,698
91,248
45,582
51,785
27,013
87,866
42,662
64,224
101,449
21,476
821,873
50,763
27,771
198,255
93,700
46,251
52,883
27,795
89,407
43,889
65,682
103,765
21,711
841,632
51,598
28,243
204,931
95,695
47,162
53,745
28,324
91,694
44,786
67,189
106,274
21,988
865,475
52,955
28,896
212,559
98,540
47,944
55,406
28,809
94,069
45,826
69,003
109,081
22,386
882,139
53,682
29,479
216,046
100,214
49,113
56,081
29,271
96,023
46,957
70,337
112,117
22,821
1.9
1.4
2.0
1.6
1.7
2.4
1.2
1.6
2.1
2.5
1.9
2.8
1.9
9.9
9.1
8.6
12.1
9.8
7.7
8.3
8.4
9.3
10.1
9.5
10.5
6.3
327,318
46,113
16,997
39,376
224,832
330,946
47,154
17,319
39,753
226,720
336,300
47,944
17,604
40,375
230,378
344,185
49,742
18,030
40,950
235,463
343,218
49,438
17,931
40,954
234,896
351,441
30,767
18,483
41,829
240,362
358,015
52,433
18,594
42,430
244,558
368,758
54,036
19,086
43,413
252,223
372,581
54,596
19,619
43,768
254,597
1.0
1.0
2.8
.8
.9
8.6
10.4
9.4
6.9
8.4
94,325
49,566
10,887
9,365
18,466
6,041
95,567
50,152
11,034
9,435
18,806
6,140
96,649
50,803
11,191
9,486
19,007
6,163
98,719
51,915
11,449
9,689
19,459
6,207
98,512
51,671
11,520
9,733
19,402
6,185
100,761
52,679
11,820
9,972
19,910
6,380
102,490
53,631
12,055
10,025
20,388
6,391
105,238
55,039
12,344
10,377
21,071
6,408
106,563
55,733
12,528
10,560
21,202
6,540
1.3
1.3
1.5
1.8
.6
2.1
8.2
7.9
8.7
8.5
9.3
5.7
589,639
470,060
15,780
36,196
67,602
603,626
481,950
16,180
36,810
68,687
613,162
489,178
16,665
37,528
69,790
631,979
504,406
17,202
38,513
71,858
634,154
504,777
17,445
38,997
72,935
647,687
515,581
18,027
39,811
74,268
666,343
531,884
18,687
40,335
75,436
692,807
553,949
19,528
41,919
77,411
700,827
558,623
20,056
42,476
79,673
1.2
.8
2.7
1.3
2.9
10.5
10.7
15.0
8.9
9.2
9,500
16,107
9,624
16,402
9,620
16,791
9,691
17,374
9,744
17,579
9,943
17,934
10,037
18,316
10,147
19,229
10,445
19,412
2.9
1.0
7.2
10.4
261,187
713,067
684,258
267,443
681,045
194,274
368,976
192,204
676,008
269,283
738,109
703,120
274,335
700,708
198,711
379,938
197,888
702,655
274,934
749,537
715,106
280,249
714,963
202,402
383,925
200,834
710,628
2.1
1.5
1.7
2.2
2.0
1.9
1.0
1.5
1.1
9.6
8.8
9.0
8.8
10.4
8.8
8.2
9.6
10.3
United States
New England
Connecticut
Maine
Massachusetts. . . .
New Hampshire
Rhode Island
Mideast
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania
Great Lakes
Illinois
Indiana
Michigan
Ohio
Wisconsin
. . .
.
.
.
.
..
Plains
Iowa
Kansas
,..,
...
.
.
Southwest
Arizona
New Mexico
Oklahoma
Texas
Rockv Mountain
Colorado
Idaho
Montana
Utah
Wyomina
Far West
California
Nevada
Washington
Alaska
....
..
..
..
Census Regions
New England
Middle Atlantic
East North Central
West North Central
South Atlantic
East South Central
West South Central
Pacific
r
p
228,660
636,240
617,236
243,591
598,440
174,664
339,720
173,214
599,466
Revised.
Preliminary.
NOTE.—Nonfarm personal income is total personal income less farm earnings.
233,760
647,785
623,166
246,655
611,463
177,288
342,776
176,221
613,472
240,348
661,240
634,781
250,329
626,073
181,025
348,023
178,861
622,907
247,902
680,727
650,024
256,187
645,624
186,413
355,722
183,693
641,842
250,951
688,971
655,866
257,588
647,850
186,039
354,784
183,326
644,032
255,072
695,821
666,521
262,969
662,687
190,492
362,845
188,039
657,537
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of Items Appearing in
The National Income,
.and Product Accounts Tables,
The NIPA index is a valuable reference aid for users of the national income and product accounts (NIPA's).
Designed to help you easily locate specific time series on the wide range of economic activities presented in the
130 NIPA tables, the NIPA index is extensively cross-indexed and contains references for both general subject areas
and detailed line items. For example, the NIPA index will help you find all NIPA tables containing information
on medical care, life insurance, or any of many other subject areas.
Here are some sample entries:
Air transportation:
Current surplus of government enterprises 3.12
Government expenditures 3.15, 3.16
Industry tables 6.1, 6.2, 6.4A, 6.4B, 6.5A, 6.5B, 6.6A, 6.6B,
6.7A, 6.7B, 6.8A, 6.8B, 6.10A, 6.10B, 6.19A, 6.19B,
6.20A, 6.20B, 6.21A, 6.21B, 6.22A, 6.22B, 6.23A,
6.23B, 6.24A, 6.24B
Personal consumption expenditures 2.4, 2.5, 7.10
Subsidies 3.12
Opthalmic products 2.4, 2.5, 7.10
Permanent site housing 5.4, 5.5, 7.12, 8.6
Restaurants:
Industry tables: Included in retail trade.
Purchased meals and beverages 2.4, 2.5, 7.10
Saving rate (personal saving as percentage of disposable personal income) 2.1, 2.7
Used autos 1.17, 1.18, 2.4, 2.5, 7.10
Wages and salaries 1.14, 3.9
By industry 2.1, 2.6, 6.5A, 6.5B, 6.8A, 6.8B
By sector and legal form of organization 1.15
Corporate 1.16
Farm 1.21
See also supplements to wages and salaries.
Imports:
Goods and services 1.1, 1.2, 1.5, 1.6, 1.11, 1.17, 1.18, 1.19,
1.20, 4.1, 4.2, 4.5, 7.1, 7.3, 7.4, 7.8, 7.14, 8.1, 8.9, 9.1,
9.5
Merchandise 4.1, 4.2, 4.8, 4.4, 7.14, 7.15, 9.5
Relation to balance of payments accounts measures 4.5
The NIPA index uses the same table numbering system used for all BEA publications presenting
NIPA estimates. The current numbering system has been used for all NIPA presentations
since the comprehensive revisions released in December 1985.
The Index of Items Appearing in the National Income and Product Accounts Tables
is reprinted from the July 1987 SURVEY OF CURRENT BUSINESS.
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8/89
CURRENT BUSINESSSTATISTICS
The statistics here update series published in BUSINESS STATISTICS: 1986, a statistical supplement to the SURVEY OF CURRENT BUSINESS. That volume
(available from the Superintendent of Documents for $16.00, stock no. 003-010-00181-0) provides a description of each series, references to sources of
earlier figures, and historical data as follows: For all series, monthly or quarterly, 1983 through 1986, annually, 1961-86; for selected series, monthly or
quarterly, 1961-86 (where available).
The sources of the series are given in BUSINESS STATISTICS: 1986; they appear in the main methodological note for each series, and are also listed
alphabetically on pages 145-146. Series originating in Gpvernment agencies are not copyrighted and may be reprinted freely. Series from private sources
are provided through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated in footnotes below,
data through 1986 and methodological
notes are as shown in BUSINESS STATISTICS:
1988
Annual
IT
.f
1987
1986
1988
May
June
1989
Aug.
July
Oct.
Sept.
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
GENERAL BUSINESS INDICATORS
PERSONAL INCOME BY SOURCE t
Seasonally adjusted, at annual rates:
Total personal income
bil $
Wage and salary disbursements,
total ..
do
Commodity-producing industries,
total
do
Manufacturing
do
Distributive industries
do
Service industries
do
Govt. and govt. enterprises
do....
Other labor income
..
do
Proprietors' income: t
Farm
do
Nonfarm
do
Rental income of persons with capital
consumption adjustment ..
bil $
Dividends
do
Personal interest income
do
Transfer payments
do
Less: Personal contributions for
social insurance
do
Total nonfarm income
do .
r
r
3 777 6 r4 064 5
2 249 4
r
6499
4903
r
531 9
r
6483
r
419.2
r
2128
r
41 6
2700
134
r
920
r
5232
r
5482
1729
r
3 714 7
r
2 429 0
r
6963
r
5240
r
571 9
r
7144
r
446.5
r
2289
r
r
398
2880
157
1022
1
5847
r
571
r
1949
r
4 003 7
r
r
4 023 3 r 4 049 4
2 402 7
r
6892
r
5186
r
5666
r
703 6
r
443.1
r
2257
r
r
46 4
2859
14 4
1004
r
5603
r
5808
r
r
4 079 8 r 4 094 2
r
2 420 1 2 443 4
r
6957
r
5228
r
5709
r
7084
r
445.1
r
227 5
r
6996
r
5254
r
577 1
r
7192
r
447.4
r
2293
r
41 0
288 5
r
r
44 7
287 9
r
14 6
101 1
565 1
r
5827
r
r
156
1024
570 1
r
5857
r
2 447 7
r
7000
r
5260
r
577 0
r
721 0
'449.7
r
231 1
r
r
4 118 6 r4 180 4
r
288 5
165
1039
r
5760
r
587 9
1932
196 1 195 9
194 3
r
3 955 9 r3 983 6 r4 017 9 r4 034 6
r
r
705 1
r
530 1
r
580 0
r
728 7
r
451.8
r
2329
r
r
33 4
290 9
167
1047
r
5830
r
5887
r
7163
r
5407
r
585 9
r
741 0
r
453i9
r
2347
r
47 1
295 8
r
7137
r
5372
r
586 0
r
745 5
r
45fr4
r
2365
r
!9 5
295 7
r
r
r
!64
105 8
r
!6 1
r
!06 5
r
5986
r
r
5908
r
5922
5935
r
!99 1
199 5
197 2
r
4 064 1 r4 112 3 r 4 128 4
r
7140
r
5364
r
590 6
r
7536
'458.5
r
2382
r
29 4
297 4
r
r
2 545 4
r
4 386 5 r4 394 7
T
r
7206
r
541 4
r
597 3
r
7628
'464.6
r
2397
r
48 0
299 6
r
r
r
160
1069
6064
r
5956
r
200 1
r
4 155 9
4 319 5 r4 360 7
4273 1
4 168 9 r4 206 3
2 465 6 2 497 1 2 501 6 2 516 7
rgg g
r
r
r
2 557 3 '2 579 4 '2 601 3 '2 602 3 2616 1
r
7243
'5440
r
598 1
r
767 9
'467.0
r
241 3
r
65 9
r
7348
r
5535
r
601 0
r
774 5
-469.2
'2429
r
63 0
rgQQ Q
rgQQ g
r
!084
r
6165
r
11 8
1094
r
6289
r
6142
1103
r
641 5
r
r
138
6107
209 0
r
4 204 0
4407 3
209 8
r
4 232 4
r
99
rg242
'211 3
r
4 276 5
r
7324
'5490
r
7325
r
5486
r
610 0
r
787 5
'471.2
'2444
r
7877
'473.6
r
2460
7345
5509
6120
7939
475.7
2475
r
57 5
'303 4
'56 1
'3020
44 1
3023
r
6484
r
r
93
lll 0
rgg
r
lll 4
r
6552
r
81
111 8
661 8
6290
r
r
r
rgQg 1
6257
6239
212 6
r
4 307 7
r
2126
4 317 2
2134
43418
DISPOSITION OF PERSONAL INCOME t
Seasonally adjusted, at annual rates:
r
r
Total personal income
bil. $.. r3,777.6 '4,064.5 '4,023.3 r4,049.4 r4,079.8 r4,094.2 '4,118.6 '4,180.4
'4,168.9 '4,206.3 4,273.1 4,319.5 4,360.7 '4,386.5 '4,394.7 4,407.3
Less: Personal tax and nontax
r
r
r
r
r
r
r
r
r
r
r
rgQQ 9
payments
do
6385
6480
571 7
'6684
631 9
5852
5866
'621 7
'631 2
5788
584 3
5843
596 3
596 2
589 1
r
Equals: Disposable personal income
do
3,205.9 r3 477 8 r3 438 0 r3 470 5 r3 495 5 r3 509 9 r3 529 5 r3 584 2 r3 572 6 r3 605 4 '3 641 9 r3 697 8 r3 728 8 r3 718 1 r3,746.7 3,768.9
r
r
r
r
r
r
r
r
r
r
Less: Personal outlays
do.... 3,104.1 3,333.1 3,297.9 '3,335.0 3,340.1 3,374.2 3,371.8 3,406.0 3,421.9 '3,444.2 '3,467.3 '3,487.1 '3,496.9 3,534.8 3,543.1 3,544.7
r
r
Personal consumption expenditures
do
3,010.8 r3,235.1 r3,200.9 r3,237.4 r3,242.0 r3,275.4 r3,272.9 r3,306.8 r3,321.8 '3,343.3 r3,365.6 '3,384.7 '3,394.0 '3,432.2 3,440.2 3,441.4
r
r
r
r
r
r
r
r
r
r
r
r
Durable goods
.
do
4660
421 0
4677
'477 3
'461 8
4552
482 4
449 0
464 2
451 8
464 2
'473 1
456 9
462 8
456 9
451 6
r
Nondurable goods
do....
998.1 1,052.3 1,043.0 1,051.7 1,059'.l 1,068.8 1,070.8 1,076.3 1,084.3 1,074.6 1,093.8 1,098.6 1,102.5 1,113.2 1,118.1 1,118.5
Services
do .... 1,591.7 1,727.6 1,706.1 1,721.5 1,734.0 1,749.7 1,750.4 1,773.5 1,774.7 1,786.3 1,798.7 1,821.9 1,829.6 1,841.7 1,854.4 1,856.9
Interest paid by consumers to
r
r
r
r
r
r
r
r
r
92 1
business. .
.
do
101 8
101 4
101 0
989
1007
100 2
96 1
955
99 5
98 9
96 9
96 2
98 1
97 3
97 0
Personal transfer payments to
r
r
foreigners (net)
do....
1.6
1.6
1.6
1.9
2.2
1.9
'2.2
2.2
1.5
1.9
1.9
1.5
1.9
1.9
1.9
1.9
Equals: personal saving
do....
101.8
144.7
140.1
224.1
'203.5
183.3
135.6
-231.9
'210.7
155.4
174.6
161.2
157.7
135.7
150.7
178.2
Personal saving as percentage of disposable
r
r
r
r
r
r
r
r
r
r
rg g
personal income §
percent
42
32
54
55
56
41
39
'5 0
45
44
41
46
46
43
Disposable personal income in constant (1982)
r
dollars .
bil $
2 676 6 r 2 793 2 r2 773 6 r 2 793 4 r 2 803 0 r 2 807 6 r 2 808 7 r 2 840 6 r 2 826 3 r 2 841 0 r 2 852 9 '2 891 9 '2 900 0 r 2 873 4 r 2 883 6 28960
Personal consumption expenditures in
r
constant (1982) dollars
do
2r 513 7 T2r 598 4 r2 582 3 r2 605 8 r2 599 7 r2 620 0 r2 604 5 r2 620 8 r2 627 9 r£ g34 5 '2 636 5 r2 647 0 r 2 639 6 r 2 652 5 r2r 647 8 26443
r
r
r
r
r
r
r
r
r
r
Durable goods. ..
..
do
4196
421 9
413 6
389 6
'430 1
4227
4124
417 1
417 2
423 7
432 0
'4089
412 1
409 1
414 2
417 3
r
r
r
r
r
r
r
r
Nondurable goods
do....
906.2
'904.7
'906.6
904.5
890.4
'911.3
906.9
904.5
899.1
'918J
'915/7
'907^0
914.4
918.0
911.2
'909.7
Services
do
1 233 7 1 280 2 1 270 8 1 278 6 1 283 91 291 41 285 6 1 297 51 292 6 1 295 5 r l 297 1 1 311 71 311 2r l 315 8 1 321 2 13186
Implicit price deflator for personal consumption
expenditures
index 1982—100
124 5
119 8
130 1
1299
129 4
124 7
1242
1240
128 6
127 9
127 7
126 9
125 0
126 4
126 2
125 7
INDUSTRIAL PRODUCTION <>
Federal Reserve Board Index of Quantity Output
Not Seasonally Adjusted
Total index
By industry groupings:
Mining and utilities
Manufacturing
Nondurable manufactures
Durable manufactures
Seasonally Adjusted
Total index
By market groupings:
Products, total
Final products
Consumer goods
1298
1372
1350
1393
1363
141 7
1430
1422
1393
1364
137 1
140 1
1395
1405
P
1400
1440
do
do
do..
do
1043
1347
136.8
133 1
107 5
1427
1439
141 9
101 3
141 3
1407
141 6
106 5
1455
1464
1448
1083
1415
1451
1389
1126
147 2
1517
144 0
1079
1496
1528
147 3
105 1
149 1
151 2
147 6
1066
1454
1460
1450
1094
141 4
141 1
141 6
1102
1422
141 6
1427
111 1
1456
1450
1460
1066
1458
1456
1459
1046
1473
1472
1474
P103 1
'1067
151 1
1535
1494
do
129 8
137 2
136 1
136 5
1380
138 5
1386
1394
1399
140 4
1408
1405
1407
141 6
do ....
do..
do
138.3
136.8
127 8
145.9
1443
1339
145.0
1435
1327
145.3
1440
1330
146.5
1450
1342
147.3
1458
1350
147.4
1458
1348
148.1
1464
1364
148.4
1468
1368
149.4
1477
1382
150.1
1482
1385
150.0
1486
1387
150.5
1489
1384
151.5
1500
1392
1977-100
"1469
"1475
P
1464
P
141 4
141 1
"151.4
151.2
1497
138 3
P
1499
P
1387
See footnotes at end of tables.
S-l
S-2
Unless otherwise stated in footnotes
below, -data through 1986 and ,
methodological notes are as shown in
- BUSINESS STATISTICS. 1986
SURVEY OF CURRENT BUSINESS
-
,, ..
umis
1987
May
1988
r
July 1989
1989
1988
Annual
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION ^-Continued
Seasonally Adjusted — Continued
By market groupings— Continued
Final products— Continued
Durable consumer goods
1 977 = 1 00 ...
Automotive products
do....
Autos and trucks consumer
do
Autos, consumer
do....
Trucks, consumer
do....
Home goods
do
Nondurable consumer goods
do
Consumer staples
do....
Consumer foods and
Nonfood staples
Equipment
Business
and
defense
equipment
Business equipment
Construction, mining,
and farm
Manufacturing
Power
Commercial
Transit
Defense and space equipment
Intermediate products
Construction supplies
Business supplies
Materials
Durable goods materials
Nondurable goods materials
Energy materials
By industry groupings:
Mining and utilities
Mining
Metal mining
Coal
. . . .
Oil and gas extraction #
Crude oil
Natural gas
Stone and earth minerals
Utilities
Electric
Manufacturing
Nondurable manufactures
Foods
....
Tobacco products
Textile mill products
Apparel products
Paper and products
Printing and publishing
Chemicals and products
Petroleum products
Rubber and plastics products
Leather and products
Durable manufactures
Lumber and products
Furniture and fixtures.
.
Clay, glass, and stone products
Primary metals
Iron and steel
Nonferrous metals
Fabricated metal products
Nonelectrical machinery
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments
BUSINESS SALES
Mfg. and trade sales (unadj.), total :|:
Mfg. and trade sales (seas, adj.),
total 1"
Manufacturing total
Durable goods industries
Nondurable goods industries
Retail trade, total
Durable goods stores
Nondurable goods stores
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
Mfg. and trade sales in constant (1982)
dollars (seas, adj.), total §.
Manufacturing
Retail trade
Merchant wholesalers
See footnotes at end of tables
120.2
118.5
115 1
90.7
160.5
1216
1306
137.4
125.3
124.9
1227
93.4
177.0
1256
137 1
144.9
125.6
127.1
1269
98.9
178.9
1244
1354
143.1
125.3
127.1
1253
99.0
174.1
1239
1358
143.5
125.3
124.4
1208
93.8
170.8
125.9
137 5
145.3
125.7
124.2
1231
93.0
179.0
1268
138 5
146.6
126.3
126.4
1248
97.7
175.3
1262
1380
145.8
129.3
128.9
1283
101.3
178.4
1297
139 0
147.0
129.2
129.5
1295
101.0
182.4
1289
1397
147.9
131.9
134.5
1380
105.1
199.1
130.0
140 5
148.9
131.5
132.5
1356
99.6
202.3
130.7
141 1
149.4
131.6
131.6
133 1
96.0
201.9
131.6
141 4
149.7
130.1
128.9
1283
95.0
190.0
131.1
1414
149.9
131.8
131.2
131.7
98.8
192.8
132.2
1419
150.4
"130.9
"128.1
"127.4
"96.0
"185.5
"133.0
"141.6
"150.1
129.8
125.5
123.6
'91.4
183.3
133.2
141.5
149.9
do
...do...
1363
1385
1489
140 9
149 1
158.2
139 2
1470
157.7
139 3
1479
1585
141 1
1496
159.4
141 3
1521
160.1
141 1
1507
160.4
1424
1518
159.7
1437
1522
1599
144 5
153.6
160.4
144 8
1542
161.1
144 3
1554
161.6
1433
156.9
162.8
144 2
156.9
164.3
"144 9
"155.5
"164.8
155.1
164.7
do
do
153 6
144 5
1633
1576
1627
1569
1635
1581
1646
1593
1652
1602
1656
1608
1651
1602
1655
1612
1662
1626
167 1
1638
1679
1650
168.9
166.3
170.2
167.7
"170.8
"168.4
170.5
168.0
.. do . .
...do .
do
do ....
do
do....
do
do....
do...
do
do
do....
do
622
1179
826
226.5
1084
188.9
1434
131.5
1535
1182
1250
125.9
998
71.9
131.3
894
245.2
1151
185.8
1515
138.6
162.5
1252
1354
132.0
1015
718
1283
87 4
245.7
1153
185.5
1504
138.8
160.3
1239
1348
130.1
995
724
1303
883
247.1
1157
184.6
1500
137.6
1606
124 5
1349
130.1
1013
73.6
132.4
898
248.2
1159
184.9
1516
138.4
162.8
1264
1368
132.8
1027
73.1
134.0
909
249.8
1152
184.9
152.3
138.1
164.4
1265
1366
133.1
103.2
74.3
135.8
922
248.7
1168
184.5
1529
138.4
165.2
1265
1378
132.6
1015
74.2
136.2
91 5
245.4
1203
184.0
154.0
140.0
165.9
1275
1389
134.7
101.3
74.5
136.2
921
247.0
1223
182.2
154.2
140.7
165.7
1283
1398
135.1
1023
74.6
137.0
918
248.9
1249
180.5
155.0
141.4
166.7
1283
139.0
136.3
102.6
74.3
136.3
928
252.4
1257
180.0
156.6
142.3
168.8
1281
1394
137.1
100.5
75.6
137.8
927
254.3
1252
179.3
155.1
139.5
168.4
1274
1386
135.9
100.5
r
76.9
138.6
r
930
'257.6
123.9
178.7
156.1
139.3
170.4
127.3
137.9
136.0
101.0
'77.1
139.7
r
93.6
r
260.1
124.8
179.9
156.6
139.7
171.0
128.1
138.6
137.1
102.0
"76.6
"140.4
"93.1
"262.1
"124.0
"180.1
"156.6
"139.9
"170.8
"127.8
"138.2
"137.2
"101.5
'76.8
140.9
'92.5
'262.3
120.8
180.4
156.6
139.9
do
do
do
do
do
do
. do
.. do .
do ....
do
do
do....
do
do
do
do
do
do....
. do
do....
do ....
do....
.. do
do
do
do ....
do....
do
do
..do
do ....
do....
do ...
do...
do..
104 3
1007
776
1318
927
1003
855
1282
1103
1266
1347
136.8
1378
1035
1159
107 4
144 4
172.1
1402
935
163.6
60.0
1331
130 3
1528
119.1
81.3
706
101 6
111 0
1527
172.3
129.2
111.8
1439
107 5
103 4
932
1379
929
985
866
1399
114.3
1320
1427
143.9
1427
1052
1162
109 1
1503
184.2
1519
960
174.4
59.5
1419
137 3
162 1
122.6
89.2
78 1
110 2
1209
170.8
180.1
132.1
117.2
1543
1060
1026
860
1278
946
994
872
1401
1116
1297
141 8
142.1
141 0
1072
1146
108 6
149 5
180.7
149 1
952
173.4
57.1
141 5
1398
160 5
121.5
89.2
78 6
109 1
119 8
1703
179.1
133.1
119.6
1513
106 8
103 0
822
1269
958
1005
877
1374
1132
132 1
142 1
142.6
141 3
104 5
114 3
109 3
1486
182.3
150 5
941
174.4
589
141 7
1364
161 2
123.4
87.5
742
1127
1204
1712
179.5
132.8
119.1
153 0
1081
1043
940
1415
933
983
849
1402
1144
134 6
143 6
144.6
143 3
100 6
117 1
1094
1523
184.9
153 4
950
175.4
59.1
1429
1366
1629
122.2
91.5
80 2
1127
1217
1731
181.5
131.9
116.6
1564
1090
1038
966
1372
932
977
860
1413
117.8
138 8
144 0
145.1
143 3
105 1
116 4
1089
151 0
186.7
1548
960
175.3
59.4
1432
133 8
164 9
122.6
90.8
789
113 3
122 1
174.1
182.2
131.8
117.5
1568
1072
1037
991
1422
920
971
841
1397
1130
1322
1444
145.3
143 2
1050
116 2
109 9
1509
188.0
1553
937
175.3
59.9
1438
133 5
164 9
122.6
93.1
81 4
115 1
1225
1748
181.8
132.7
118.5
1578
1072
103 1
1016
1385
915
959
874
1428
113.9
132 8
1453
146.3
1440
1054
117 0
109 5
151 8
188.1
1567
963
176.9
61.0
1446
137 5
1645
123.3
94.2
83 1
115 0
1226
173.8
183.0
134.8
121.7
1599
108 1
1047
1046
1497
908
969
892
1440
1137
131 6
1458
146.7
1457
1024
117 2
110 1
1507
188.5
1575
950
177.5
61.5
1452
1394
1654
124.7
92.7
808
1152
1246
175.4
182.2
135.2
122.9
1604
1089
1049
111 9
155.1
88.9
95.8
87.0
149.4
115.4
1329
1463
147.1
1458
1070
117 9
1088
151 7
188.0
158.1
98.0
177.5
60.2
145.7
143 0
165.4
125.1
90.0
77 6
1134
125.1
177.8
180.9
136.8
125.5
159.1
1072
1030
1069
1447
889
95.6
84.8
150.8
114.0
1310
1472
148.5
1466
1050
120 2
1102
1538
193.0
159.0
98.0
175.9
62.9
1462
139 9
166.3
126.6
93.2
822
1139
124.5
178.7
180.9
136.7
124.9
161.0
1068
1009
986
1347
895
94.9
89.0
142.5
116.5
1353
1468
148.1
1463
1047
119 4
110 2
151 7
194.6
158.5
96.3
175.0
62.9
1459
1328
164.8
125.4
91.1
79 1
1137
124.5
180.8
181.7
136.4
123.4
161.3
1075
101.5
98.1
137.7
'89.6
r
92.9
88.6
143.5
117.5
1370
1470
148.6
1454
101.5
1197
1099
1517
198.5
159.2
'97.0
176.4
r
61.2
145.8
1334
165.8
125.5
88.4
759
112.0
123.8
183.0
181.6
134.8
120.4
161.8
108.2
102.6
95.6
145.5
r
89.5
r
92.8
85.8
144.5
117.4
1374
147.8
149.2
146.4
100.0
1223
110 6
1507
r
200.0
159.3
r
97.3
176.2
'61.4
146.9
1348
168.0
124.7
'90.1
r
770
114.7
123.1
184.7
182.1
136.4
122.0
163.0
"107.9
"102.3
106.6
101.2
"137.1
"90.8
"93.5
"87.7
"145.2
"117.1
"137.0
"147.7
"149.2
"147.4
128.5
'91.0
mil. $. 5,394,437 5,829,069
485,694
509,034
461,882
495,783
506,774
501,375
533,442
466,290
475,439
527,377 r510,744
530,473
1
do
5 394 437 1 5 329 069 478 467
1 2 390 045 ; 2611 589 215 777
do
do
1 263 492 1 388 211 114751
do.. 1,126,553 1,223,378 101,026
1
1
do
1 521 417 1 629 150 134 003
do..
572,489
628 543 r51 885
do ..
948,928 1 000 607 r82,118
1
1
do
1 482 975 1 588 330 r!28 687
do . .
782,744 '64,159
725,683
do ..
805,586 '64,528
757,292
bil $
....do
do..
do..
4544
2057
1226
126.1
504,380
486 359 486 193
218 881 216 698
116522 113 122
102,359 103,576
135 161 135 662
r
52284
52 397
r
83,378
82,764
132 317 133 833
65,559
64,715
68,274
67,602
492 491
221 715
117 866
103,849
136 050
51931
84,119
134 726
65,501
69,225
492 478
221 395
118 030
103,365
135 751
51427
84,324
135 332
66,295
69,037
498 846
222 917
118 439
104,478
137 842
52,725
85,117
138 087
67,581
70,506
501 400
224 632
119 874
104,758
139 529
53,930
85,599
137 239
68,543
68,696
506 186
230 827
124 175
106,652
139 189
54,154
85,035
136 170
68,427
67,743
511 881
231 485
123 578
107,907
140 040
53815
86,225
140 356
70,302
70,054
507 328
228 353
120 924
107,429
139 428
53071
86,357
139 547
69,343
70,204
507 555
228 048
120 432
107,616
139,516
52,886
86,630
139 991
68,796
71,195
4554
2048
1233
127.3
4591
2085
123.3
127.2
4569
2078
1222
126.9
4620
2087
1238
129.5
4631
2091
1254
128.6
4662
2139
1248
127.4
468 1
2131
1249
130.1
4632
2096
1243
129.3
4601
2081
1234
128.6
457 8
2077
1231
127.0
r
517 745
234 042
123 331
110,711
141,413
r
53,901
r
87,512
142 290
'69,345
r
72,945
r
4652
2121
1225
130.5
127.3
137.9
137.3
100.0
115.7
147.7
149.3
"1234
"150.3
"199.6
"158.5
"95.4
"176.9
"59.6
"146.7
"134.4
"169.0
"125.3
"87.7
"73.5
"114.5
"123.8
"185.6
"181.0
"135.1
"119.1
"164.8
517 855
233 513
122 985
110,528
141,295
53,649
87,646
143 047
70,747
72,300
f
200.9
'97.3
146.5
'88"2
123.4
186.1
181.5
133.4
116.1
165.0
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
S-3
SURVEY OF CURRENT BUSINESS
July 1989
,, ..
units
Annual
1987
1989
1988
1988
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INVENTORIES
Mfg. and trade inventories, book value
(non-LIFO basis), end of period,
(unadjusted), total $
Mfg. and trade inventories, book value
(non-LIFO basis), end of period,
(seas, adj.), total :j:
Manufacturing, total
Durable goods industries
Nondurable goods industries
Retail trade, total
Durable goods stores
Nondurable goods stores..
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
Mfg. and trade inventories in constant
dollars, end of period(seas adj ) total §
Manufacturing
Retail trade
Merchant wholesalers
mil $
690 458
743 191
720 318
723 242
725 243
729 557
738 881
753 958
759 019
743 191
753 035
763 793
770 121 r777 354
mil $
do
do....
do .
do
do
do
do ....
do....
do ..
(1982)
bil $
do
do
do .
700 761
331 132
216,598
114 534
206 981
106 271
100 710
162,648
106,482
56166
753 718
354 163
233,666
120 497
221 242
114 994
106 248
178,313
115,743
62570
718 506
340 074
222,948
117 126
r
208 346
105 757
102 589
170,086
110,823
r
59 263
724 966
341 963
224,000
117 963
210 824
107 064
103 760
172,179
110,574
61605
729 903
343 788
225,467
118 321
211 534
107 443
104 091
174,581
112,702
61879
737 562
345 798
226,600
119 198
215 396
110 146
105 250
176,368
113,727
62641
744 054
347 785
228,214
119 571
219 297
114 303
104 994
176,972
114,875
62097
743 544
349 412
229,735
119 677
216 724
111 689
105 035
177,408
115,225
62 183
746 756
351 603
231,766
119 837
218 093
112904
105 189
177,060
114,975
62085
753 718
354 163
233,666
120 497
221 242
114 994
106 248
178,313
115,743
62 570
759 803
357 458
236,810
120 648
222 584
115704
106 880
179,761
117,255
62 506
763 051
359 056
238,165
120 891
224 185
116 169
108 016
179,810
117,932
61 878
765 504
361 130
239,330
121 800
224 693
H5993
108 700
179,681
117,424
62257
771 340
363 458
'240,486
122 972
r
226 656
117 093
109 563
181,226
119,069
r
62 157
6880
327 2
1939
1669
6897
3277
1951
1669
6894
3278
194 1
1676
693 3
3286
1964
1684
696 1
329 1
198 1
1689
698 1
329 5
199 1
169 5
700 5
3304
201 2
1689
7027
3320
201 3
169 5
706 5
3338
2026
170 1
7066
333 5
203 5
1697
7069
3336
204 0
1693
7087
334 7
205 1
1689
1.50
1 58
1 94
55
90
49
1 16
45
19
52
1 55
204
1 25
1.32
173
r
92
1.49
1 56
1 92
55
89
48
115
45
19
51
1 56
r
204
1 25
1.30
171
91
1.50
1 59
1 99
57
92
50
1 14
45
19
51
1 56
205
1 25
1.30
172
91
1 51
1 59
1 58
1 32
1 51
1 58
1 59
1 31
1 51
1 60
1 57
1 32
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total $
ratioManufacturing total
do
Durable goods industries
do
Materials and supplies. .
do
Work in process
do
Finished goods
do
Nondurable goods industries
do
Materials and supplies
do . .
Work in process
do ...
Finished goods
do ....
Retail trade, total
do
Durable goods stores
do
Nondurable goods stores. ..
do
Merchant wholesalers, total
do....
Durable goods establishments
do
Nondurable goods establishments
do ....
Manufacturing and trade in constant (1982)
dollars, total §
do
Manufacturing
do
Retail trade
do
Merchant wholesalers
do
1.50
1 61
200
57
91
51
118
46
.19
.53
1 57
209
125
1.27
170
85
1.50
1 57
1 94
55
90
49
115
45
19
51
1 58
207
1 27
1.30
172
89
MANUFACTURERS' SHIPMENTS,
INVENTORIES, AND ORDERS t
Shipments (not seas adj ) total
mil $ 2 390 045 2 611 589
Durable goods industries, total
do .... 1,263,492 1,388,211
Stone, clay, and glass products
do ....
64,044
62,142
Primary metals
do
117 092
142 196
Blast furnaces, steel mills
do....
50,812
60,950
Fabricated metal products
do ....
135,005
144,064
Machinery, except electrical
do .
216 605
247 152
Electrical machinery
do
210 695
227 136
Transportation equipment
do ....
323,026
351,927
Motor vehicles and parts
do....
219,257
197,049
Instruments and related products
do....
66,805
72,456
Nondurable goods industries total
do
1 126 553 1 223 378
Food and kindred products
do ....
324,996
356,804
Tobacco products
do....
22,240
19,935
Textile mill products
do
57481
59774
Paper and allied products
do
110 252
124 187
Chemical and allied products
do....
212,705
240,476
Petroleum and coal products
do ....
124,528
124,218
Rubber and plastics products
do
80510
91 089
Shipments (seas adj ), total
do
By industry group:
Durable goods industries, total #
do....
Stone, clay, and glass products
do ....
Primary metals
do
Blast furnaces, steel mills
do....
Fabricated metal products
do .
Machinery, except electrical
do
Electrical machinery
do
Transportation equipment
do ...
Motor vehicles and parts...
do
Instruments and related
products
do
Nondurable goods industries, total # do....
Food and kindred products
do ....
Tobacco products
do
Textile mill products
do
Paper and allied products .
do
Chemicals and allied products
do .
Petroleum and coal products
do
Rubber and plastics products
do .
See footnotes at end of tables.
1 15
45
18
51
1 58
2 12
125
1.31
174
90
1.51
1 57
1 93
55
88
50
116
46
18
51
1 62
222
1 25
1.31
1 73
90
1.49
1 57
1 94
55
89
50
1 15
46
18
51
1 57
2 12
1 23
1.28
1 70
88
1.49
1 57
1 93
54
89
50
1 14
45
18
51
1 56
209
1 23
1.29
1 68
90
1.49
1 53
1 88
53
87
48
1 13
44
18
51
1 59
2 12
1 25
1.31
1 69
92
1.48
1 54
1 92
54
88
50
1 12
44
18
50
1 59
2 15
1 24
1.28
1 67
89
1 51
1 58
1 59
1 32
1 52
1 58
1 62
1 33
1 51
1 58
1 61
1 31
1 51
1 58
1 60
1 31
1 51
1 55
1 61
1 33
1 51
1 57
1 62
1 31
1.50
1 56
1 92
55
88
49
r
1 13
44
18
51
1 61
2 19
1 25
1.29
1 70
88
1.51
1 58
1 99
56
93
50
113
44
19
51
1 61
2 19
1 25
1.28
1 71
87
1.49
1 55
1 95
54
92
49
1 11
42
19
50
1 60
r
2 17
1 25
1.27
1 72
r
85
1 53
1 59
1 64
1 31
1 54
1 60
1 65
1 32
776 907
365 475
241,900
123 575
228 778
117 735
111 043
182,654
120,880
61774
1.50
1 57
1 97
54
93
49
1 52
1 58
1 67
1 29
1.50
1 57
1 97
55
91
51
r
1 12
42
18
51
1 62
2 19
1 27
1.28
171
85
217 031 234 386
112493 125 058
5,852
5,653
12 614
11 930
5,193
4,978
11,845
12,696
23 111
19565
21 239
18 845
27,100
30,570
19,156
16,616
5,900
6,545
104 538 109 328
29,913
32,455
1,771
2,353
5 186
5599
10 639
10 782
21,051
20,342
10,966
10,365
7 707
8 159
221 715 221 395
222 837
122 606 118 636
5,507
5,745
12 614
12308
4,945
5,187
12,234
12,736
20 124
20841
19 222
19 640
31,334
32,582
20,049
21,348
5,901
6,150
106 935 104 201
30,582
31,339
2,253
1,696
5221
5243
10 727
10 373
20,104
20,269
10,120
10,430
7 724
8 335
222 917 224 632
226 032
122 482
4,815
11 796
4,836
11,732
23 686
20 728
31,993
18,020
6,523
103 550
30,719
2,455
5 118
10 528
20,397
10,363
7 518
230 827
212 037
110 887
4,849
12 181
5,068
11,771
18 612
17 642
29,190
20,158
5,830
101 150
29,650
1,218
4742
10822
20,853
10,044
7 885
231 485
229 134
121 870
5,064
12905
5,198
13,210
21 421
19078
32,477
21,778
6,138
107 264
31,572
1,574
5397
11 036
21,483
10,162
8 200
228 353
238 698
128,704
5,221
13 075
5,365
14,012
24125
20808
32,811
20,518
6,535
109 994
32,928
2,392
5 615
11 098
21,960
10,611
8 162
228 048
235 253
125,254
r
5,709
12 940
'5,391
13,591
r
22 010
19 558
r
32,854
r
21,739
r
6,085
109 999
r
31,613
1,733
r
5236
11 001
r
22,413
12,094
r
S 466
r
234 042
234 075
124,173
5,578
12624
5,281
13,779
21,769
19 356
32,582
21,256
6,353
109 902
32,523
2,267
5415
10 810
21,858
11,899
8425
233 513
117 866
5,435
11 990
5091
11 870
21 488
19 131
30683
19 349
118 439
5,442
12369
5 151
12 123
20 970
18931
30924
19 585
119 874
5,588
12709
5206
12 597
20 894
19099
30960
19 671
124 175
5,549
12861
5201
12865
21 642
19 953
32 521
20 948
123 578
5,575
12869
5222
13 igg
21 491
19794
31 834
20850
120 924
5,356
12 553
5080
13044
21 939
19225
30698
19700
120 432 123 331
r
5,451
5,150
12377 12 486
r
5128
5103
13 135 13 269
21 948 r22 054
19 541 r20 299
r
30298 r31 489
18941 20 146
122 985
5,412
12311
5,097
13 358
22044
19998
31355
19 913
r
6308
6200
6 259
6403
6342
106 652 107 907 107 429 107 616 110711
r
32364 32,283
31842
31720
30*995
r
2 104
2003
1 819
1 878
1 957
r
5337
5'333
5458
5520
5397
10'896 10 927
10 802
10938
10*956
21 327
21 HO
21 021
20*862 r21 497
11090 12306
10786
10384
10 237
r
8174
7875
7986
8568
8318
6400
110 528
32,571
2 129
5438
10922
21552
11950
8,211
216 450
116,049
5,505
11 970
5,256
12,338
20 147
18309
30,383
19,646
5,894
100 401
29,130
2,244
4888
10201
19,838
10,556
7 662
215 777
232 773 199 670
126 159 101 393
4,999
5,767
12922
10728
5,577
4,641
10,832
13,338
23727
18 553
20 102
16 961
22,550
31,388
19,733
12,605
6,590
5,895
98 277
106 614
31,036
29,479
2,192
1,275
4256
5419
10 859
10 076
20,887
18,748
10,867
10,977
8 066
6 935
218 881 216 698
114 751
5,311
11 576
5061
12082
20346
18888
29160
18363
116 522
5,305
12201
5160
12398
21003
18742
29264
18368
5951
101,026
29,143
2096
4910
10280
19614
10,631
7,511
6293
6075
6048
6 147
102 359 103 576 103 849 103 365
30339
30265
30061 30484
1 647
1 846
1 663
2021
5047
4956
4919
4999
10575
10356
10550
10485
19893
20680
20478
20 144
10712
10546
10787
10256
7894
7476
7855
7468
113 122
5,115
11 667
5032
11 519
20749
19019
27 252
16380
r
779 116
118 030
5,399
12334
5211
12049
21 224
19354
29960
18700
229 54!
5960
6057
104 478 104 758
30564
30607
2 109
1 911
4890
5269
10 669
10779
21 352
20948
9940
10238
7835
7893
June
S-4
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
IT
U
Annual
..
July 1989
1989
1988
s
1987
May
1988
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
15,317
43,518
15,108
44,467
14,797
44,556
14,608
44,969
14,894
r
45,727
14,782
46,096
37802
21351
r
38 337
r
38,447
22,353
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SHIPMENTS,
INVENTORIES, AND ORDERS t-Continued
Shipments (seas, adj.)— Continued
By market category:
Home goods and apparel
mil. $..
Consumer staples
do....
Equipment and defense products,
except auto
..
do
Automotive equipment
do
Construction materials, supplies, and
intermediate products
do....
Other materials, supplies, and
intermediate products
do
Supplementary series:
Household durables
do
Capital goods industries
do.
Nondefense
do.
Defense
do
Inventories, end of year or month:
Book value (non-LIFO basis),
(unadjusted), total
do....
Durable goods industries total
do
Nondurable goods industries total
do
Book value (non-LIFO basis),
(seasonally adjusted), total
do .
By industry group:
Durable goods industries,
total # .
do
Primarv metals
do
Blast furnaces steel mills
do
Fabricated metal products
do . . . .
Machinery, except electrical
do....
Electrical machinery
do...
Transportation equipment
do ....
Motor
vehicles
and
parts
do
Instruments and related
products
do
By stage of fabrication:
Materials and supplies
do...,
Work in process
do
Finished goods
do
Nondurable goods industries,
total #
do
Food and kindred products
do....
Tobacco products
.
do
Textile mill products
...
do
Paper and allied products
do
Chemicals and allied
products
do ....
Petroleum
and
coal
products
....
do
Rubber
and plastics
products
do ...
By stage of fabrication:
Materials and supplies
do
Work in process
do....
Finished goods
do....
By market category:
Home goods and apparel
do....
Consumer staples
do
Equip, and defense prod.,
exc. auto
do
Automotive equipment
do
Construction materials, supplies, and
intermediate products
do
Other materials, supplies, and
intermediate products
do....
Supplementary series:
Household durables
do...
Nondefense
Defense
New orders, net (unadj.), total
..
Nondurable goods industries total
New orders, net (seas, adj.), total
By industry group:
Durable goods industries total
Primary metals
Blast furnaces, steel mills ...
Nonferrous and other primary metals
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Aircraft, missiles, and parts
Nondurable goods industries, total
Industries
with
unfilled
orders -"}.'
Industries without unfilled
orders 0
By market category:
Home goods and apparel
Consumer staples
Equip, and defense prod., exc. auto
Automotive equipment
Construction materials, supplies, and
intermediate products
Other materials, supplies, and
intermediate products
Supplementary series:
Household durables
Capital goods industries
Nondefense
.
Defense
....
See footnotes at end of tables
1
164,861
'461,025
' 170,860
'501,301
13,958
41,474
14,297
41,538
14,270
41,765
14,073
42,823
14,328
42,458
14,386
42,969
14,454
43,253
37 178
23343
37 153
22154
'391 189
1
223 069
'433296
' 248 003
1
192,664
'204,769
16,958
17,125
16,646
16,963
17,045
17,113
17,529
18,102
18,390
17,400
17,251
r
17,248
1
957 237 1 052710
86981
88842
88775
89 461
89334
89978
90616
92048
92999
92293
92067
r
95 089
94,587
6567
'79219
40,045
'486607
31,668
'380017
8377
' 106 590
6292
40,543
31,822
8721
6424
40675
32,012
8 663
6571
41449
32,414
9035
6,638
41,353
32,523
8830
6,671
41,026
32,595
8431
6,949
41,172
32,512
8660
6934
42772
32,675
10097
6,933
42,060
33,330
8730
6,955
41,858
33,455
8403
6,864
42,528
34,079
8449
r
6,977
r
43,232
r
34,599
r
6,970
43,161
34,469
8,692
'75607
'445,633
'336,190
' 109 443
35651
20755
36286
20793
36557
18685
36 507
21 888
37042
21 188
36395
22076
36537
22243
38315
23527
22 522
!7,473
8633
325,695
212 265
113 430
348,465
229 040
119425
343,446
225 646
117 800
342,678
225 046
117 632
344,304
226 096
118 208
346,830
227 521
119 309
346,388
227 815
118 573
348,699
229 283
119416
350,223
230 625
119 598
348,465
229 040
119 425
356,430
235 168
121 262
360,741
238 967
121 774
362,082 -365,848 368,862
r
240 180 r242 195 244,752
121 902 !23 653 124,110
331,132
354,163
340,074
341,963
343,788
345,798
347,785
349,412
351,603
354,163
357,458
359,056
361,130
r
363,458
365,475
r
239 330 240 486 241,900
r
7765
l 704
7 630
20880 r21 036 21237
10542
10 537 10 563
23,982
23,962 '23,947
47,809
47,730 r47,660
41,714
41,288 r41,553
67,509
65,996 r66,681
216 598
7 216
18 189
8 590
22,684
41,935
39,396
57,203
233 666
7 505
20 279
10 119
23,552
46,729
40,683
63,229
222 948
7 297
18 897
9 067
23,111
43,497
39,438
59,997
224 000
7 198
18730
9029
22,831
43,942
39,495
60,932
225 467
7 276
18958
9 206
22,928
44,391
39,358
61,206
226 600
7 293
19 246
9351
23,266
45,123
39,791
60,621
228,214
7 389
19 544
9 551
23,496
45,797
39,797
60,933
229 735
7 551
19825
9 677
23,430
45,992
40,010
61,578
231 766
7 464
19980
9763
23,478
46,172
40,746
62,305
233 666
7 505
20279
10 119
23,552
46729
40,683
63,229
236 810
7 561
20 589
10222
23,776
47,407
41,090
64,660
238 165
7 609
20785
10353
23,771
47,532
41,371
65,368
11 391
11 839
11 419
11574
11548
11 618
11568
11657
11872
11839
12282
12246
12169
12 134
12669
14040
13,109
13,127
13,275
13,455
13,513
13,578
13798
14 040
14,125
14,218
14,336
14,361
14,111
61,255
99952
55391
65,252
108 392
60022
63,105
103 678
56165
63,522
104 112
56366
64,138
104 257
57072
64,998
103 927
57675
65,253
104 440
58521
65,324
105 239
59172
65,298
106 884
59584
65,252
108 392
60022
66,273
109 309
61228
66,852
110118
61 195
67,278 '66,887
111 555 113381
60497 r60,218
66,975
114,428
60,497
114 534
24,744
5586
7458
11 242
120 497
26,361
5609
7605
12065
117 126
25,140
5 613
7588
11 390
117 963
25,666
5703
7571
11 436
118 321
25,548
5784
7 742
11 530
119 198
25,688
5848
7737
11 647
119 571
25,742
5763
7545
11 775
119 677
25,791
5810
7620
11 835
119 837
26,003
5710
7648
11 939
120 497
26,361
5609
7605
12065
120 648
26,266
5349
7636
12093
120 891
26,245
5432
7606
11 941
121 800 122 972
26,301 r26,588
r
5403
5372
r
7,648
7495
11 905 11 943
123,575
26,426
5,415
7,798
12036
25061
27,515
25,742
25954
26154
26544
26882
27060
27235
27515
27,601
27,880
28,510
r
28,816
29,194
9951
8879
10 154
10024
9 839
9 518
9 336
9092
8757
8 879
9376
9578
9897
10 346
10,385
9112
10326
9383
9528
9688
9847
10089
10298
10394
10326
10,418
10,405
10,572
10,555
10,670
44354
18,752
51428
47294
19,291
53,912
45790
19,075
52,261
46255
19,050
52658
46350
19,218
52753
46 931
19,163
53104
47364
19,110
53097
47 611
19,172
52894
47664
19,071
53102
47294
19,291
53912
46963
19,532
54,153
46900
19,522
54,469
46,858
20,075
54,867
r
46,780
r
20,493
r
46,577
20,368
56,630
26,772
42399
26,313
44 900
26,696
43 010
26,463
43 510
26,544
43793
26,662
44 157
26,478
44 282
26,328
44367
26,459
44 485
26,313
44 900
26,177
44 206
26,058
44 279
26,053
44454
r
26,257
r
44 977
26,367
44949
96004
14 013
105 287
14 611
99 582
14 068
100 817
14 309
100716
14 414
101 110
14 411
101 871
14415
102 586
14533
103 320
14717
105 287
14 611
106,390
15002
107,523
15045
108,309 109,160
15013 15 165
109,587
15,223
55,699
r
12,223
24 222
25250
24 857
24762
25202
25 142
25 184
25392
25303
25250
25201
25059
24 986
25,445
127,722
137,802
131,861
132,102
133,119
134,316
135,555
136,206
137,319
137,802
140,482
141,092
142,259 142,913
143,904
12,650
114 838
80,143
34 695
214,369
114 133
100 236
216,398
12,609
116 012
80,684
35328
239,026
132 393
106 633
228,090
12,653
116 243
81 444
34799
203,370
104 377
98993
219,877
12,620
116 653
82582
34071
218 860
114 410
104 450
227,009
12,614
117 620
82781
34839
234,757
125 584
109 173
222,669
12,600
118 529
83119
35410
231 583
125 170
106 413
227,095
12,712
119 518
84167
35351
225,235
121 294
103 941
228,153
12,791
121 064
85691
35373
235 710
132 230
103 480
238,886
12,952
122 944
87,167
35777
222,407
120 986
101 421
236,075
12,927
124 034
88,241
35793
235,462
128 116
107 346
231,306
13,046
124 742
88,326
36 416
246,325
135 749
110 576
233,011
13,110
125413
r
89,051
r
36,362
r
240,054
130 202
109 852
r
239,907
13,104
126 546
89,739
36,807
231,069
121 489
109 580
233,948
' 1 293 2361 435 605 115369
'
' 122 590 ' 144 128 12348
' 53 724 ' 60 273
5654
125 442
12271
5210
116 112
12 103
5085
122 806
11 794
4788
119 321
12496
5301
122 791
12428
4730
123 035
12 624
4 950
132 149
13 210
5350
128 479
13 079
5840
124 107
12602
5 112
125 377 129 372
11 885 12 865
r
4741
4635
123 566
12696
5075
do...
5,771
'73,288
'59,129
do ... ' 136,494 ' 142,602
12,038
do... '221,041 '253,798
20,969
do
'212442 ' 227 440 18865
do ... '337,585 ' 388 832 28,313
do... '116403 ' 136 560
8555
do... '1,130,361 '1,223,920 101,029
6,178
11,958
22,018
18461
37,735
12,831
102,648
6,156
11,471
21,408
19 039
29,239
10987
103,765
6,097
11,638
22,851
19 025
34,707
12638
104 203
6,221
12,007
21,459
18629
31,618
11504
103,348
6,795
12,026
21,181
18 977
34,898
12005
104,304
6,820
12,411
21,443
20 110
32,401
10763
105 118
6,902
12,917
21,710
19 922
39,550
14 145
106 737
6,274
12,983
22,384
19563
36,133
13350
107 596
6,568
13,377
21,921
19 573
33,381
10730
107 199
r
7,163
6,412
12,910 13,007
22,255 r22,731
18 272 19 890
37,050 r37,062
15 892 15 240
107 634 110 535
6,697
12,789
21,991
18738
33,520
11603
110 382
12,791
12,843
110 643
121 064
77139
85691
35373
33 504
2,423,597 2 659,525
1 293 236 1 435 605
do
1 130 361 1 223 920
do... '2,423,597 '2,659,525
do ...
do
do...
do
do
do
25042
do
'291418
'311623
25781
25998
26152
26589
26112
26134
27 001
27 018
26660
26994
26701
r
do..
'838,943
'912,297
75,248
76,650
77,613
77,614
77,236
78,170
78,117
79719
80,936
80,205
80933
r
83 230
83,133
do
do
do..
do..
'166091
' 460 952
'409,548
'223,543
' 170 374
'501 477
'466,606
'247,655
13 565
41 450
34,615
20,778
14347
41 532
44,262
20,656
14007
41895
39,153
18,681
14 170
42871
39,283
21,725
14502
42456
36,343
21,200
14264
42936
39,164
22,063
14481
43268
40,391
22,311
15504
43 491
46,534
23,633
15457
44417
40,472
23,295
14646
44 525
40,503
22,141
14 473
44945
41,711
21,342
14 977
r
45 683
r
43,728
r
22,344
14 498
45989
39,695
22,120
do ..
' 192,464
' 205,319
16,970
17,284
16,606
17022
17,001
17190
17547
18098
18,163
17,180
17 106
17,366
17,180
do..
'970,999 '1,066,503
89,020
90,009
89,535
91,938
91,167
91,478
90,155
91,626
94,271
92,311
93,434
r
95,809
94,466
do
do
do
do
'75832
'78985
'466 264 '528817
' 356 478 '419 559
' 109 786 ' 109 258
6343
39737
31 522
8215
6322
49 287
35458
13829
6258
43 208
36 213
6995
6 668
46845
38808
8037
6786
42330
34858
7 472
6 590
45318
34 623
10 695
6963
44 216
35825
8391
7 158
49839
39432
10 407
7 206
47 167
40352
6815
6813
45 348
37 189
8 159
6703
48 598
38 137
10 461
r
7 119
r
48 940
r
40 389
r
6696
44 600
36929
7 671
27 305
8551
27249
June
Unless otherwise stated in footnotes
methodological notes are as shown in
BUSINESS STATISTICS: 1986
S-5
SURVEY OF CURRENT BUSINESS
July 1989
Ann ual
19 89
19 38
Units
y
Feb
Jan
y
May
Apr
Mar
June
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SHIPMENTS,
INVENTORIES, AND ORDERS tt-Continued
Unfilled orders, end of period (unadjusted),
total
mil $
Durable goods industries, total
do
Nondurable goods industries with
unfilled orders :)'
do
Unfilled orders, end of period (seasonally
adjusted) total
mil. $..
By industry group:
Durable goods industries, total #
do....
Primary metals
do....
Blast furnaces, steel mills
do....
Nonferrous and other primary metals
do..
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Aircraft,
missiles,
and
parts
Nondurable goods industries with
unfilled orders :|:
By market category:
Home goods and apparel
Consumer staples .
Equip, and defense prod., excl.
auto
Automotive equipment
Construction materials, supplies, and
intermediate products
Other materials, supplies, and
intermediate products
Supplementary series:
Household durables
Capital goods industries
Nondefense ..
Defense
488 259 r493 060
467 347 r472,295
469^611
'20 765
20443
476,403
481,366 '487,231
487,666
455,952
25,996
11,553
460,897 '466,938
25,504 '25,883
11,085 10,698
467,519
26,268
10,676
12,781
'28,037
'61,822
'91,937
13,150
27,468
61,769
90,677
415 998
396 563
443'957
437 663
417 326
443 916
423 560
447 616
426 544
449 445
428 461
449 816
428 987
451 858
431 551
454 256
434 209
463 934
443 957
474 304
454 056
480 632
460 302
19 435
19977
20337
20356
21 072
20984
20829
20 307
20047
19977
20248
20330
421,243
468,860
434,148
443,357
446,536
451,830
453,103
457,281
460,802
468,860
473,450
400,720
23,896
11,637
447,868
25,737
10,903
414,242
24,942
11,541
423,162
25,012
11,591
426,152
25,448
11,644
431,092
25,252
11,341
432,382
25,414
11,431
436,734
25,473
11,010
439,895
25,388
10,754
447,868
25,737
10,903
452,769
25,947
11,521
463 934
20 912
490 054
10265
29,970
52,702
93,696
12591
11293
11295
11626
11707
11757
12219
12121
12106
28,406
59,963
93,498
29,399
55,864
93,564
28,959
56,879
93,283
28,911
57,538
93,303
28,679
58,901
93,197
28,637
59,136
92,472
28,540
59,347
92,518
12428
28,354
59,896
93,529
12591
do....
do....
do....
do
28,406
59,963
93,498
28,191
60,856
93,267
28,524
60,838
93,615
173 733
212 120
183 537
192 008
193 995
198 019
199 676
203 650
205 091
212 120
216 419
219 102
225 854 r231 427
233 592
do
144 343
174 722
153 459
157 516
159 569
162 950
165 376
168 121
169 763
174 722
179 176
181 110
187 793 193 939
196 348
do
20 523
20992
19 906
20 195
20 384
20738
20721
20 547
20907
20992
20 681
20451
do
do
do
do....
do.
12075
28,299
61,145
92,346
20469
r
20 293
r
20 147
S 533
r
687
8 249
580
297 284 '302 675
'8,640
8,818
303 923
8,407
9 075
'675
8 387
836
8 237
711
8 287
705
8024
8 121
883
8 295
'881
8 173
848
8200
8387
8736
8585
8450
835
863
836
786
755
731
252 751
9,239
286 731
8,888
259 242
9,019
267 218
8,882
269 814
8,878
272 590
8,715
271 890
8,727
274 659
8,714
278 513
8,782
286 731
8,888
290 025
8,840
293 375
8,827
15060
15541
15316
15475
15435
15494
15450
15 527
15545
15541
15314
15094
14 842
14774
do....
134,443
148,477
141,623
142,790
143,550
146,027
147,860
149,360
148,899
148,477
149,749
149,767
151,134 151,854
151,733
do.
do....
do
do
6480
301 674
139 814
16l'860
6122
345 037
179 640
165 397
5856
312 986
150 977
162 009
5886
321 730
154 613
167 117
5720
324 263
158 814
165 449
5817
329 659
165 208
164 451
5965
330 635
167 543
163*092
5884
334 927
169 571
165 356
5898
337 971
172 884
165 087
6122
345 037
179 640
165 397
6 395
350 144
186 662
163 482
6253
353 634
190 396
163 238
r
6234
6092
359 704 '365 412
r
194 454 200 244
165 250 165 168
5960
366 851
202 704
164 147
685 572
684 109
r
58 806
54908
53439
57277
60 186
59'649
53993
54 521
56 557
49 186
53?638
58 165
58516
58 031
58499
55905
58 724
4984
4511
4,702
1 847
1 969
2077
1 763
'570
'556
560
574
415
424
436
362
908
929
983
1008
369
401
394
390
23165 24534 4 5650 22481
6126
7021
6245
5046
201 1
113 6
2389
1408
2956
499 6
176 6
3549
177 9 1 637 3
197 9
1780
285 1
1109
1047
'l48 6
4599
BUSINESS INCORPORATIONS @
New incorporations (50 States and Dist. Col.):
Unadjusted
number
Seasonally adjusted
do. .
INDUSTRIAL AND COMMERCIAL
FAILURES @
Failures, total
number ..
Commercial service
..
do
Construction
do
Manufacturing and mining
do
Retail trade
do
Wholesale trade
do
59 729
'58 046
4957
61,235
24029
6724
4939
12185
4304
Liabilities (current), total
mil. $.. 33,024 5
Commercial service
do .... 8,088 7
Construction
do
2278 6
Manufacturing and mining
do
4 7464
Retail trade
do
37137
Wholesale trade
do
13368
Failure annual rate
No. per 10,000 concerns..
102.0
56 126
14949
r
68 311
r
60 133
55411
55245
62281
57775
4262
4 146
1 958
1 531
1 798
597
479
563
320
350
383
888
905
801
317
319
297
35330 1 825 5 2047 5
3431
3852
5000
1095
1077
1183
3554
228 9
183 8
4139
2454
151 5
91 2
80 7
873
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS t
Prices received, all farm products
1910-14=100..
Crops #
do
Commercial vegetables
do....
Cotton
do
Feed grains and hay
do....
Food grains
do
Fruit
do....
Tobacco
do
Livestock and products #
do....
Dairy products
do
Meat animals
do ....
Poultry and eggs
do....
Prices paid:
Production items
do ....
All commodities and services, interest, taxes,
and wage rates (parity index)
1910-14 — 100..
Parity ratio §
do
578
458
'719
503
268
282
669
1 255
703
r
764
921
244
'631
'544
'707
r
484
378
378
669
1 286
r
721
'746
949
269
'616
r
510
r
580
492
329
343
730
1 229
726
697
994
'243
'633
'560
'599
524
'401
382
697
1 229
'708
691
947
'264
'649
'591
'624
502
'448
396
718
1 225
709
697
917
311
'660
'590
'761
'455
'436
404
673
1 271
'732
722
'951
'315
'660
r
585
'728
r
438
432
414
691
1 379
737
759
944
'316
'653
577
'650
'457
'429
423
698
'1 378
'731
795
'932
'296
657
588
'731
477
421
'427
717
'1 398
728
820
918
'293
663
590
725
'468
'424
432
712
'1 400
739
826
939
288
682
604
891
455
432
439
656
1 411
762
820
983
294
849
908
922
936
1 167
54
'1 181
55
55
56
117.0
116.2
116.7
113.6
118.3
117.5
118.0
1116
113.6
112.6
115.9
118.3
117.0
115.2
117.6
116.3
1157
118.1
116.8
53
55
672
604
851
497
438
442
613
1 395
742
752
957
316
'680
'611
'760
'497
'436
'440
'743
1 395
'752
746
'966
335
668
591
768
499
409
418
728
1 395
748
740
967
328
953
1 207
57
112.5
679
590
744
475
436
445
585
1 389
773
777
991
343
943
1 110
52
677
595
833
447
431
441
653
1 389
762
801
992
292
1220
55
56
56
1 193
55
117.2
117.7
118.5
118.9
119.0
119.2
119.7
120.2
120.8
121.8
122.5
122.8
118.5
119.0
119.8
120.2
120.3
120.5
121.1
121.6
122.3
123.1
123.8
124.1
1161
118.4
117.2
116.5
118.9
117.8
117.5
119.7
118.6
117.9
120.2
118.9
118.0
120.3
119.0
118.1
120.4
119.1
1187
120.8
119.7
119.2
121.3
120.1
119.9
122.0
120.8
121.0
122.9
121.7
121.7
123.5
122.3
122.0
123.9
122.6
CONSUMER PRICES 0
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
ALL ITEMS, WAGE EARNERS AND
CLERICAL WORKERS (CPI-W)...1982-84 = 100 ..
ALL ITEMS, ALL URBAN CONSUMERS
(CPI-U)
1982-84=100..
Special group indexes:
All items less shelter
do....
All items less food
do....
All items less medical care
do....
See footnotes at end of tables.
S-6
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
July 1989
1989
1988
Annual
f , .,
umts
1987
1988
Aug.
July
June
May
Oct.
Sept.
June
May
Apr.
Mar.
Feb.
Jan.
Dec.
Nov.
COMMODITY PRICES-Continued
CONSUMER PRICES t-Continued
(U.S. Department of Labor Indexes)— Continued
Not Seasonally Adjusted
All items (CPI-U)— Continued
Commodities
1982-84=100..
Nondurables
do
Nondurables less food
do....
Durables
do .
Commodities less food
do...
Services
do....
Food #
do
Food at home
do
Housing
do
Shelter #
do
Rent, residential
do
Homeowners' cost
12/82=100..
Fuel and utilities #
1982-84=100..
Fuel oil, coal, and bottled
gas
do
Gas (piped) and electricity.
do
Household furnishings and operation
do..
Apparel and upkeep
do....
Transportation
do....
Private
do
New cars
do
Used cars
do
Public
.
. .
do
Medical care
do
107.7
1075
101.8
1082
104.3
120.2
113 5
111 9
1142
1213
123 1
124.8
103.0
111.5
1118
105.8
1104
1077
125.7
1182
1166
1185
127 1
1278
131.1
104.4
111.1
1114
106.0
109.9
107.6
124.6
1170
115 1
1177
126.2
126.9
129.9
103.5
111.1
111 4
105.5
110.2
107.4
125.5
1176
1158
118.6
126.6
127.3
130.4
105.9
111.5
111.9
105.4
110.3
107.4
126.1
1188
117.3
119.1
127.4
127.8
131.0
106.0
111.9
112.4
105.9
110.3
107.7
126.7
119.4
118.1
119.5
128.2
128.4
131.8
106.1
113.0
113.7
107.7
110.6
108.9
127.3
120.2
119.0
119.9
128.4
129.1
132.6
106.4
113.5
114.2
108.3
111.1
109.5
127.6
120.3
119.0
119.9
128.8
129.4
133.1
105.4
113.5
114.1
108.2
111.8
109.7
127.8
120.2
118.7
119.9
129.1
129.8
133.8
104.3
113.5
113.9
107.5
112.2
109.4
128.1
120.7
119.1
120.2
129.3
130.1
134.0
105.0
113.9
114.3
107.1
112.5
109.2
128.9
122.2
121.2
120.7
129.8
130.5
134.4
106.0
114.3
114.9
107.6
112.4
109.5
129.4
122.9
122.0
121.1
130.3
130.9
134.7
105.9
115.2
116.2
109.4
111.9
110.5
130.0
123.5
122.7
121.5
131.2
131.1
135.0
105.9
116.7
118.4
112.8
111.8
112.5
130.2
124.2
123.5
121.6
131.2
131.4
135.4
106.2
117.5
119.3
113.9
111.9
113.2
130.8
124.9
124.4
122.1
131.8
131.7
136.2
107.0
117.2
119.0
113.1
112.1
112.8
131.6
125.0
124.3
122.9
132.3
132.3
136.5
109.2
779
1038
781
1046
800
1026
791
107.8
76.9
108.1
76.3
108.3
75.9
108.5
74.6
105.8
75.0
103.7
76.8
104.1
80.5
105.1
81.4
104.9
81.5
104.8
82.5
105.0
81.5
106.1
80.2
110.5
107 1
110.6
105.4
1042
114 6
113 1
121 1
1301
1094
115.4
108.7
1076
1169
1180
1233
1386
109.3
116.3
108.1
1070
1163
1170
122.4
137.5
109.6
114.6
108.5
1074
1165
117.6
123.2
138.2
109.8
112.7
108.9
1078
116.5
117.9
123.7
139.3
109.7
112.6
109.6
108.6
116.3
119.2
123.7
139.9
110.1
117.8
109.7
108.6
116.8
119.4
124.0
140.4
110.3
120.7
110.0
109.0
117.7
119.9
124.2
141.2
110.6
119.9
110.7
109.6
118.7
119.7
125.3
141.8
110.6
118.0
110.8
109.6
119.1
120.2
126.5
142.3
110.9
115.3
111.1
109.8
119.5
120.5
127.5
143.8
110.9
115.3
111.6
110.3
119.6
120.5
128.1
145.2
110.5
119.3
111.9
110.7
119.6
120.5
128.2
146.1
110.7
120.9
114.6
113.6
119.4
120.7
128.4
146.8
110.8
120.4
116.0
115.0
119.5
121.0
128.9
147.5
111.1
117.8
115.9
114.9
119.1
121.3
129.6
148.5
.4
111.0
1077
1171
115.0
116.3
108.2
1072
116.5
125.0
.3
111.3
1077
117.8
115.9
115.9
108.4
1074
116.6
125.4
.4
111.8
1080
118.9
117.2
115.7
108.7
107.7
116.7
125.8
.3
112.1
108.1
119.5
118.0
113.9
109.6
108.6
117.0
126.4
.4
112.7
108.6
120.3
119.0
116.0
109.7
108.7
117.7
126.8
.4
113.0
109.0
120.6
119.2
117.4
110.1
109.1
117.8
127.4
113.2
109.1
120.8
119.3
117.4
110.4
109.3
117.9
128.0
.3
113.4
109.2
121.2
119.8
117.7
110.4
109.3
118.1
128.6
.6
114.2
109.9
122.1
120.9
117.7
111.2
110.0
118.9
129.1
.4
114.6
110.2
122.6
121.4
117.5
111.9
110.8
119.3
129.7
.5
115.3
110.8
123.6
122.6
119.1
112.6
111.5
119.7
130.3
116.5
112.4
124.2
123.3
119.4
115.0
114.1
119.8
130.6
.6
117.4
113.3
125.0
124.3
120.4
116.1
115.2
119.6
131.2
.2
117.4
113.1
125.3
124.5
119.1
115.9
115.0
119.3
131.6
1065
1072
1079
108.0
108.1
108.2
108.3
109.0
110.5
110.8
111.5
112.3
113.1
112.8
Seasonally Adjusted t
All items, percent change from
previous month
Commodities
1982-84—100..
Commodities less food
do
Food
do
Food at home .
.
do
Apparel and upkeep
do.
Transportation
do....
Private
do
New cars
.
.
do
Services
do.
PRODUCER PRICES §
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
All commodities
1982—100
By stage of processing:
Crude materials for further
processing
do....
Intermediate materials, supplies etc
..
do
Finished goods #
do....
Finished consumer goods
do....
Capital equipment
do
By durability of product:
Durable goods
do..
Nondurable goods
do....
Total manufactures
do
Durable manufactures
do....
Nondurable manufactures
do
Farm products, processed foods and
feeds
do....
Farm products
do
Foods and feeds, processed
do....
Industrial commodities
do ....
Chemicals and allied products
do....
Fuels and related prod., and
power
.do..
Furniture and household durables
do...
Hides, skins, and leather products
do...
Lumber and wood products
do...
Machinery and equipment
do...
Metals and metal products
do
Nonmetallic mineral products
do . . .
Pulp, paper, and allied products
do...
Rubber and plastics products
.do ..
Textile products and apparel
do..
Transportation equip #
do
Motor vehicles and equip
do..
1028
1069
93.7
96.0
97.2
97.9
97.3
96.9
96.7
95.9
94.5
97.3
101.4
101.2
103.1
104.1
106.3
103.9
1015
105.4
103.6
111 7
1071
108.0
106.2
1143
1063
107.5
105.7
113 8
1074
107.7
105.9
113 9
1082
108.6
107.0
1142
108.4
108.7
107.1
114 5
108.7
108.6
107.0
1143
108.6
109.4
107.6
116.0
108.9
109.8
108.0
116.1
109.4
110.0
108.2
116.4
110.6
111.1
109.4
117.1
111.0
111.7
110.1
117.5
111.6
112.2
110.7
117.5
112.3
113.0
111.8
117.6
112.7
114.2
113.3
117.9
112.6
114.1
113.0
118.6
1099
97.5
1044
109.6
992
1147
101.1
109 1
114.1
1041
114.1
100.8
1086
113.5
1037
114.4
101.8
1090
113.7
1043
114.8
102.6
1098
114.1
1054
115.1
102.6
1100
114.4
1056
115.2
102.7
1101
114.5
1056
116.4
102.2
1105
115.6
105.4
116.8
102.0
111.0
116.0
106.1
117.2
102.8
111.4
116.4
106.4
118.1
104.8
112.5
117.1
107.8
118.3
105.2
112.9
117.4
108.3
118.7
106.1
113.5
117.8
109.2
118.6
107.;
114.^
117.7
110.9
118.8
108.7
114.<
118.0
111.6
118.8
108.1
114.8
118.1
111.2
103.7
95 5
107.9
102.6
106.4
1100
1049
112.7
106.3
116.3
108.1
1022
111.2
106.1
114.6
111.2
1068
113.5
106.4
115.3
112.9
1091
115.0
106.8
117.4
112.7
1093
114.5
107.0
118.2
114.0
111.6
115.4
106.8
119.1
113.5
110.9
115.0
107.1
119.9
112.4
107.9
114.8
107.5
121.1
112.9
108.9
115.0
108.1
121.7
115.0
112.0
116.6
109.6
123.7
114.6
110.8
116.6
110.1
124.3
116.2
113.;
117.8
110.6
124.6
115.1
110.5
117.5
111.7
125.1
116.9
114.9
118.1
112.4
125.0
115.2
111.4
117.3
112.3
124.2
702
109.9
120.4
112.8
110.4
1071
110.0
121.8
103.0
105.1
1125
111.7
667
113.1
131.4
118.9
113.2
1187
111.2
130.4
109.3
109.2
114 3
113.1
68.4
112.8
134.6
119.1
112.9
117.4
111.2
129.6
108.8
108.9
1137
112.3
68.6
112.7
131.2
119.3
112.9
118.0
111.3
130.0
109.
109.3
114 0
112.4
68,0
113.1
130.1
120.0
113.2
119.2
111.1
131.0
109.8
109.5
1139
112.6
67.6
113.4
131.6
118.8
113.6
119.8
111.1
131.3
110.6
109.6
1140
112.8
66.1
113.7
132.5
118.9
113.9
120.2
111.3
132.1
111.0
109.8
113.2
110.9
64.5
113.9
131.9
118.7
114.2
121.4
111.4
132.8
111.1
110.0
116.6
116.9
64.4
114.3
130.4
118.8
114.5
122.8
111.5
133.1
111.2
110.2
116.3
116.
65.6
114.5
130.1
119.0
114.8
124.0
111.7
133.5
111.3
110.5
116.3
116.0
68.1
115.0
131.2
120.1
115.6
125.3
111.8
135.1
111.9
111.0
116.8
116.2
r
68.9
115.3
133.2
122.0
116.0
125.1
111.8
136.3
112.2
111.3
117.1
116.5
69.7
115.5
136.6
123.1
116.3
126.2
112.0
137.0
112.7
111.3
116.8
115.7
74.1
116.0
136.1
124.9
116.6
125.3
112.5
137.5
112.9
111.7
116.;
114.8
76.1
116.5
134.6
126.4
116.9
124.9
112.7
137.9
113.0
111.9
116.8
115.6
75.7
116.7
134.9
127.3
117.3
123.7
112.8
138.0
112.8
112.1
117.5
115.6
Seasonally Adjusted t
Finished goods, percent change from previous
month .
By stage of processing:
Crude materials for further processing
1982=100
Intermediate materials, supplies, etc.
.do.
Finished goods #
do.
Finished consumer goods
do..
Foods
do..
Finished goods, exc. foods
do..
Durable
do
Nondurable
. .. .
do
Capital equipment
do..
PURCHASING POWER OF THE DOLLAR
As measured by:
Producer prices
1982=$1.00
Consumer prices
1982-84 — $1.00
See footnotes at end of tables.
-.1
1.1
96.
106.
107.
105.
111.
102.
113
97.
113.
.94
88
.92
84
96.
107.
107.
105.
112.
102.
113
96.
114.
.93
.85
.92
.84
96.
107.9
108.
106.
112.
103.
113
97.
114.
97.2
108.2
108.5
106.8
113.6
103.5
114.
97.6
114.7
97.
108.
109.
107.3
114.
103.
115.
97.
115.
96.6
108.6
109.2
107.4
114.7
103.8
115.
97.
115.
94.8
109.0
109.
107.8
115.
104.
115.
98.
115.
.92
.84
.92
.84
.92
.83
.91
.83
.91
.83
97.8
109.5
109.9
108.2
115.2
104.7
115.4
• 98.9
116.
.90
.83
101.8
110.8
111.1
109.5
116.7
106.0
116.3
100.4
116.9
.90
.82
101.5
111.3
112.1
110.6
117.8
107.
116.9
101.6
117.4
.89
.82
103.6
112.0
112.6
111.3
118.9
107.6
117.2
102.2
117.
104.
112.
113.
112.
118.
109.
116.
104.
117.
105.
112.
114.
113.
119.
110.
117.
105.
117.
103.0
112.4
114.0
112.8
118.2
110.1
117.4
105.6
118.7
.89
.81
.88
.81
.87
.80
.876
.806
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
S-7
SURVEY OF CURRENT BUSINESS
July 1989
,, ..
units
1987
1989
1988
Annual
1988
June
May
July
Aug.
Oct.
Sept.
Nov.
Feb.
Jan.
Dec.
Apr.
Mar.
May
June
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE @
New construction (unadjusted), total
mil $ 1-397 720 r409 662
r
Private, total #
do
320 106 r328 739
Residential . .
do
194 656 198 101
New housing units . .
do
139 915 138 947
Nonresidential buildings, except farm and
public utilities, total #
mil $
91994 r97 102
Industrial
do
13707 14 930
Commercial
do
55445 r58 103
Public utilities:
r
r
Telecommunications *
do
d 194
8867
r
Public, total #
do
ll 614 r80 924
r
Buildings (excl. military) #
do
25158 27 455
Housing and redevelopment
do .
1,519
1499
Industrial .. . .
do
1 457 1 413
1-3 579
Military facilities
do
4324
r
Highways and streets
do
25 340 r28 523
New construction (seasonally adjusted at
annual rates), total ...
.
bil $
Private, total #
do
Residential
do .
New housing units
do
Nonresidential buildings, except farm and
public utilities, total #
bil $
Industrial
do
Commercial
do
Public utilities:
Telecommunications *
do
Public, total #
do
Buildings (excl military) #
do
Housing and redevelopment
do
Industrial
do ....
Military facilities
do
Highways and streets
do
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F.W. Dodge
Division, McGraw-Hill):
Valuation, total
mil. $..
Index (mo. data seas, adj.)
1982=100..
Public ownership
mil $
Private ownership
do ..
By type of building:
Nonresidential
do
Residential
do
Non-building construction
do....
New construction planning
(Engineering News-Record) §. ...
do
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
thous ..
Privately owned
do
One-family structures
do....
Seasonally adjusted at annual rates: <>
Total privately owned
do
One-family structures
do
New private housing units authorized by building
permits (17,000 permit-issuing places):
Monthly data are seas. adj. at annual rates:
Total. .
thous
One-family structures
do
Manufacturers' shipments of mobile homes:
Unadjusted
thous ..
Seasonally adjusted at annual
rates
do....
CONSTRUCTION COST INDEXES
Dept. of Commerce composite $
1982=100 ..
Boeckh indexes:
Average, 20 cities:
Apartments,
hotels,
office
buildings
1982=100 ..
Commercial and factory buildings
do
Residences
do...
Engineering News-Record:
Building.
1967 — 100
Construction
do
Federal Highway Adm.— Highway construction:
Composite (avg. for year or qtr.)
1977 = 100 ..
See footnotes at end of tables.
1-35 114
/r
28 172
17 125
11 832
1-37 474
r
r
r
29 686
18*336
12 602
r
r
8272
1 255
r
4993
8476
1 311
r
5052
r
748
7 788
r
2523
131
126
r
358
1-3060
1-730
r
38 083
29 986
18 873
12 997
i-g 272
1 235
r
5049
1-4080
1-327 6
1970
1383
1-4087
1-3280
1962
137 5
328 1
1968
137 0
r
993
155
1-59 o
r
981
148
r
597
r
r
84
1-808
28 1
16
15
1-43
r
279
85
rgQ4
r
280
15
1.3
r
31
r
276
r
i"8751
1 306
r
5398
8096
r
2470
131
115
r
322
1-3 391
1-4107
r
r
88
1-82 5
r
27 3
16
14
r
39
r
31 0
r
38 907
30 334
18 726
13 065
r
i-g 680
1 329
r
5 313
r
1-729
r
981
150
r
592
39 423
1-31 056
19 296
13 155
859
r
6 941
r
2336
122
107
1-260
1-2509
r
r
rg26
2685
120
130
1-295
1-3368
r
408 1
1-329 2
1976
1370
r
97 9
150
1-59 3
r
91
789
28 3
14
16
r
35
r
262
r
38 170
1-30 434
18 684
12 920
r
780
7 736
r
2352
126
115
r
218
1-3230
1-829
1-6965
r
2304
148
115
r
285
r2476
1-411 5
r
411 1
1-331 4
r
97 4
149
r
588
1-9 2
rgl 7
r
289
16
r
20
r
44
r
26 3
36 087
29 122
17 674
12 450
r
i-g 395
1 367
1-4 949
r
1-329 8
1983
1380
r
1-8637
1 435
r
5 125
8 572
2685
137
169
r
364
1-3 igi
r
r
r
r
200 8
139 8
r
96 5
15 5
r
57 3
r
88
79 7
r
26 9
15
14
r
26
r
28 7
r
r
4154
3328
r
2020
141 9
r
r
96 1
154
r
567
1-32 469
r
26 476
14 994
10 554
i-g 291
1 345
r
4 878
i-8io
r
5993
2 187
130
103
1-325
1 785
826
r
280
18
14
r
34
r
290
r
r
28 272
23 124
13 289
r
9831
r
7481
1 177
4 372
r
1-540
1-5 148
r
r
r
4250
3363
r
2025
1433
r
4248
1-339 5
1-933
150
r
587
100 5
15 9
r
59'4
r
r
1-9 2
r
r
r
2032
122
59
287
1 350
r
2047
1456
r
34
308
32 468
26 442
16015
11 167
r
r
36 305
28 885
17 430
11 831
7657
1 232
1-4462
8399
1 354
4941
i"4836
r
2088
136
94
286
1 048
i"642
5 104
2100
122
126
312
1 233
591
6026
2363
137
106
r
279
1 757
7419
2469
146
119
286
2526
r
r
419 2
1-3404
r
4159
1-335 1
r
r
1-556
418 5
1-3350
r
2023
145 3
r
r
r
204 5
143 2
98 6
15 1
i~587
101 8
157
r
607
rgo
34
27 9
r
78
787
r
27 8
15
15
37
r
261
r
27 8
15
7
r
7953
1 214
r
4706
7207
1 098
S2
r
1-30 297
r
25 193
14 573
10 544
r
r
T
98
rgg g
28 5
16
12
r
39
1-33 7
27 037
22 201
12 607
i-g'217
83 4
r
29 9
16
11
r
r
r
r
2039
142 1
r
962
162
r
557
78
rgo g
r
293
16
1.3
1-34
r
279
421 3
335 1
2007
138 6
987
16 1
57 7
862
29 5
17
1.4
34
274
258,090
164
66318
191,772
253,147
J
161
66077
187 070
24,138
166
6665
17472
26,940
169
1-7 956
18 984
21379
160
5 592
15788
23142
162
5496
17 645
21 174
157
5659
15515
20313
164
5370
14*943
18601
158
4257
14345
18027
163
4 468
13 558
15776
155
3723
12053
15086
148
3998
11 089
21,080
150
6011
15 068
21,725
163
6042
15684
23,796
159
6754
17042
24,650
157
6859
17792
91 041
121 128
45,921
86794
120 867
45,486
7 254
11 686
5,197
r
9 176
12 430
r
5,335
7 595
9 912
3,872
8391
11 119
3,632
7 524
10 117
3,533
6939
9996
3,378
6 592
9450
2,560
5888
8897
3,242
6 081
7 515
2,181
5 183
7 137
2,766
6600
10 118
4,361
6 510
10999
4,216
7 959
11 389
4,448
8 496
11 568
4,586
267 823
283 448
23 321
20 096
19 566
21 883
20 405
23 176
25 114
20 652
23 659
22688
25083
23 972
140.3
140 2
104.0
1503
150 2
113.6
1372
137 0
100.3
1368
136 8
101.4
131 4
131 1
91.7
1352
135 1
97.7
1132
113 0
81.2
94 2
65.7
100 1
69.9
85 8
59.3
117 8
83.5
1294
100.4
132 6
101.9
144 0
101.7
1 392
1 001
1 463
1 088
1 478
1 067
1 459
1 076
1 463
1 039
1 532
1 136
1 567
T138
1 577
1 141
1 678
1 199
1 465
1 029
1 409
981
1 343
1 029
1 309
1-977
1 400
975
1 300
871
1,622.7
1 620 5 1 488 1
1,146.4 1,081.3
1 535
1 024
1 456
994
1 448
982
1 485
997
1 425
976
1 466
1 007
1 432
980
1 526
1 029
1 508
1 027
1 518
1 058
1 486
1 052
1 403
989
1 230
870
1 334
954
1 347
r
905
232.8
218.3
20.0
21.7
16.7
21.9
206
198
176
142
153
14.6
18.2
17.1
19.1
221
227
207
223
224
216
227
225
232
212
207
198
205
114.4
116.2
115.5
117.3
115 1
119.7
120.2
118 3
1223
120.0
118 3
1223
3756
409 8
384 6
4207
383 6
4183
172.0
184.7
115.5
116.4
116.4
120.6
118 9
1229
3840
421 3
167.4
3846
421 9
116.6
116.9
121.1
119 0
123 1
386 5
422 8.
386 6
4222
193.5
116.9
117.1
387 2
4252
119.8
387 3
4252
184.1
387 7
4258
120.4
120.5
386 8
4252
387 3
4252
191.7
120.8
121.0
124.2
123 5
1267
124.0
121 5
1263
123.9
121 1
1256
121.5
119 6
1237
386 6
424 1
118.6
387 7
4255
3880
4257
2
388 7
2
427 6
S-8
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
SURVEY OF CURRENT BUSINESS
„ .,
Annual
July 1989
1989
1988
uims
1987
1988
May
July
June
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
CONSTRUCTION AND REAL ESTATE—Continued
REAL ESTATE 0
Mortgage applications for new home construction:
12.2
12.4
8.3
FHA applications
thous. units.,
9.9
7.3
6.4
7.2
7.3
8.5
8.3
9.4
10.5
165.3
9.5
104.9
8.1
138
132
92
Seasonally adjusted annual rates
do....
92
91
86
104
120
104
96
102
104
109
112
10.4
9.5
9.1
Requests for VA appraisals
do....
13.7
9.6
8.0
7.7
8.3
9.1
9.4
14.5
13.7
15.2
19.9
193.4
149.8
110
103
101
Seasonally adjusted annual rates
do...,
135
116
120
190
109
153
167
162
216
201
116
Home mortgages insured or guaranteed by:
Fed. Hous. Adm.: Face amount
mil. $.. 81,880.51 42,577.16 3,545.40 3,006.04 4,383.24 4,069.62 3,654.99 4,642.41 2,535.11 3,501.38 4,628.42 3,508.80 3,189.10 3,064.37 3,166.56 3,773.70
Vet. Adm.: Face amount §
do..., 33,322.54 15,773.84 1,163.94 1,209.49 1,287.15 1,451.05 1,504.53 1,388.99 1,334.34 1,368.01 1,239.99 1,222.92 1,363.51 1,127.15 1,164.14 1,071.66
Federal Home Loan Banks, outstanding advances
to member institutions, end of
period
mil. $., 133,054 152,777 132,118 134,832 135,759 137,953 141,562 142,260 145,771 152,777 154,014 158,267 163,779 165,630 164,268 161,870
New mortgage loans of FSLIC-insured
16,071
institutions, estimated total @
mil. $. 253,407 r240,303
21,683 15,412 13,837 19,089 16,464
19,647 18,319
21,674
23,325
24,655
25,567
21,236
By purpose of loan:
r
r
2,355
2,287
Home construction
do...
2,515
1,805
1,972
2,432
2,464
2,705
2,256
2,867
2,833
2,893
2,613
28,411 '29,555
11,880
Home purchase
do... 190,749 176,409
14,261 12,422
11,448 10,396
13,634
15,279
17,133 14,750
18,810
16,466
18,984
15,935
r
1,836
1,755
2,311
1,637
All other purposes
do...
1,992
3,700
2,429
2,464
3,013
2,743
3,325
3,689
2,688
34,247
34,333
DOMESTIC TRADE
ADVERTISING
Magazine advertising (Leading National
Advertisers):
Cost, total
mil $
Apparel and accessories .
do
Automotive, incl. accessories .
do
Building materials
.do
Drugs and toiletries
do
Foods, soft drinks, confectionery
do
Beer, wine, liquors
do
Houshold equip., supplies, furnishings
do
Industrial materials
do
Soaps, cleansers, etc
do
Smoking materials
do
All other
do
Newspaper advertising expenditures (Newspaper
Advertising Bureau, Inc.): tt
Total
mil $
Classified
do
National
do
Retail
. .
do
WHOLESALE TRADE t
Merchant wholesalers sales (unadj.),
total ..
.. .
29412
10691
3 494
15227
31 197
11 771
3 586
15840
mil $ 1 482 9751 588 330 131 689
65 312
725 683 782 744
66377
757 292 805 586
Nondurable goods establishments
do
Merchant wholesalers inventories, book value
(non-LIFO basis),
end of period (unadj.), total
mil. $..
Durable goods establishments
do....
Nondurable goods establishments
do . . . .
162,964
105,145
57,819
178,884
114,176
64,708
168,419
111,410
57,009
137 210
68 466
68744
126 841 138 551 136 994 141 335 138 289
62 555 67 904 68 511 70 825 68 957
64 286 70 647 68483 70 510 69332
136 599
67 261
69*338
131 786
63 265
68,521
127 414 148 920 137,567 149,432
r
73550
62003 72946 r68 014
65'411 75,974 69,553 75,882
171,341
111,500
59,841
172,497
113,366
59,131
RETAIL TRADE t
All retail stores:
Estimated sales (unadj.), total
mil. $.. 1,521,417 1,629,150 137,555 139,051 135,371
Durable goods stores #
. .do .
55300
572 489 628 543
57 196 53020
Building materials, hardware, garden
supply, and mobile home dealers mil. $..
7,814
81,549
8,476
8,678
88,894
Automotive dealers
...do.... 334,429 369,028
31,845
34,712
33,327
Furniture, home furnishings,
and equipment
do.... 84,562 92,952
7,490
7,312
7,725
Nondurable goods stores
do..., 948,928 1,000,607
82,255 81855 82351
General merch. group stores
do.... 176,023 183,783
13,309
14,343
14,714
Food stores
do
27 695 27 941 29015
314 605 331 892
Gasoline service stations
.do....
8,955
8,746
98,680 101,916
8,789
Apparel and accessory stores
do ...
6080
6,397
77,998
82028
6181
Eating and drinking places
do
13308
147 717 157 504
13 597 14 128
Drug and proprietary stores
do
4659
4856
54958
4 801
5&729
Liquor stores
do
19 458 19 143
1 624 1 684
1 593
Estimated sales (seas, adj.), total .
do
134 003 135 161 135 662
r
Durable goods stores #
do . ,
52284
51,885 r52 397
Bldg. materials, hardware, garden supr
r
7,247
ply, and mobile home dealers*
mil. $..
7,352
7,440
Building materials and
r
r
supply stores
do
5168
5270
5302
Hardware stores
do
1172
1170
1159
r
Automotive dealers
do...
30,790
30,378 r30,668
Motor vehicle and miscellaneous
r
auto dealers .
do
27 873 r28 090 28 295
Auto and home supply
r
r
stores
;
do..
2495
2,505
2,578
Furniture, home furnishings,
r
r
7,687
and equipment #
do...
7,893
7,702
Furniture, home furnishr
r
ings stores
. do .
3784
3,778
3,866
Household appliance, radio, and
r
r
TV stores
do
3475
3387
3345
See footnotes at end of tables.
7 317
2810
895
3612
8 520
2844
920
4756
7 623
3 014
867
3741
7 982
3 168
920
3 895
181,181
121,572
59,609
172,736
113,470
59,266
175,787
115,469
60,318
178,969
115,561
63,408
178,197
114,648
63,549
178,884
114,176
64,708
181,054
115,885
65,169
181,481
117,512
63,969
181,246 182,305
117,890 120,185
63,356 r62,120
140,201
55,153
133,000
51,076
135,898
51,113
140,249
51,683
170,811
59,847
122,467
46,036
118,891
45,146
139,759 137,924 146,966 145,009
53,784 r53,754 r58,554 ' 57 ,401
8,150
32,963
7,811
29,748
7,876
29,660
7,318
28,766
7,255
28,613
5,880
27,233
5,491
27,201
7,837
85,048
14,791
28482
9,222
7,031
14 298
4831
1 582
136 050
51,931
7,543
81,924
13,972
27 875
8,594
6735
13435
4707
1 512
135 751
51427
7,713
84,785
15,357
27 927
8,724
7,018
13 681
4,796
1 508
137 842
52,725
8,643
88,566
18,800
27 764
8,365
7780
12955
4884
1 574
139 529
53 930
7,357
7,386
7,424
7,640
5216
1 170
30,353
5270
1209
29,870
5279
1 198
31,262
5508
1201
31800
11,130
110,964
29,944
30888
8,499
12,026
13792
6498
2 303
139 189
54154
7,822
5639
1 190
31803
7,054
7,505
76,431 73,745
11,025
10,954
27 204 26 125
7,649
7,985
5,103
5,480
12497
11885
4,778
4,898
1 425 1335
140 040 139 428
53,071
53,815
7,742
5678
1 175
31,194
7,483
5409
1 149
30,643
6,774
33,262
r
7,865
32,491
r
r
8,915
34,960
1
r
'8,159
7,596
7,840
85,975 r84,170 r88,412
14,537 14,657 15,377
29459 r28 373 r29,962
r
r
9,755
9,113
8,599
r
r
7,009
6,774
6,992
13567 13,648 14,051
r
r
5,186
4,814
5,223
1,644
1,509
1499
139,516 141,413 141,295
r
r
52,886 53,901 53,649
r
5190
1 117
30,787
r
5,351
1,139
r
31,407
5,324
1,216
r
30,841
r
r
28 288
27823
27380
28 801
29364
29350
28725
28174
28273
2,530
2490
2461
2436
2453
2469
2469
2514
7,712
7,747
7,807
7,983
7,947
8,264
8,287
8,195
r
3,738
3791
3877
3944
3986
4123
4031
3929
r
3,994
3,954
3406
3404
3361
3488
3391
3555
3665
3697
r
3902
r
2,539
8,329
3768
9,677
6,876
'1
14,276
5,093
1
1
140,777
52,947
1
1
7,505
7,481
8,192
1
87,608
1
15,182
1
29,805
1
r
7,228
28 868
'8,612
33,967
1
r
7,502
1
30,234
;
27 695
2,553
r
8,418
1
8,411
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS. 1986
S-9
SURVEY OF CURRENT BUSINESS
July 1989
Annual
IT .t
UnltB
1987
1989
1988
1988
June
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Apr.
Mar.
May
June
DOMESTIC TRADE—Continued
RETAIL TRADE t-Continued
All retail stores— Continued
Estimated sales (seas, adj.) — Continued
Nondurable goods stores
mil $
General merch. group stores .
do
Department stores excluding
leased departments
do....
Variety stores
do
Food stores
.
do
Grocery stores
do
Gasoline service stations
do
Apparel and accessory stores #
do....
Men's and boys' clothing and
furnishings stores
do
Women's clothing, specialty stores,
and furriers
do...
Shoe stores
do
Eating and drinking places
do.,..
Drug and proprietary stores
do
Liquor stores
do
Estimated inventories, end of period:
Book value (non-LIFO basis),
(unadjusted), total .. .
mil $
201 799 215 842
Durable goods stores #
do
105716 114 461
Bldg. materials, hardware, garden supply, and mobile home dealers
do.... 14,126
14,861
Automotive dealers
do
56596 60719
Furniture, home furnishings,
and equipment
do
16231 18030
Nondurable goods stores #
do.... 96,083 101,381
General merch. group stores
do.... 33,478 35,222
Department stores excluding
leased departments .
do
26510 28293
Food stores
do
20521 21852
Apparel and accessory
stores
do.... 15,728
16,173
Book value (non-LIFO basis),
(seas, adj.), total
do.
206,981 221 242
Durable goods stores #
do.... 106,271 114,994
Bldg. materials, hardware, garden supply, and mobile home dealers
do
14823 15610
Automotive dealers
do
55500 59421
Furniture, home furn.,
and equip
do. . 16,280
18084
Nondurable goods stores #
do.... 100,710 106,248
General merch group stores
do
36856 38766
Department stores excluding
leased departments
do
29036 30989
Food stores
do
20*362 21 706
Apparel and
accessory
stores.. .
do
17 022 17 522
Firms with 11 or more stores:
Estimated sales (unadj.), total
mil. $.. 567,503 598,623
Durable goods stores
do
67 830 74492
Auto and home supply stores
do
7 624
7*274
Nondurable goods stores #
do
499 673 524 131
General merchandise group
stores.. . .
do
162 306 170 529
Food stores
do
179 202 187 687
Grocery stores
do
176 420 184 820
Apparel and accessory stores
do . 41866 43888
Eating places
do
37793 39 302
Drug stores and proprietary
stores
do . 32255 34 515
Estimated sales(sea adj ) total #
do
Auto and home supply stores
do
Department stores excluding
leased departments
do
Variety stores
do
Grocery stores
do
Apparel and accessory stores
do....
Women's clothing, specialty stores,
and furriers
do...
Shoe stores
do
Drug stores and proprietary
stores
do....
r
82 118
14 960
r
82 764
15 108
83378
15 149
84 119
15095
84324
15251
85117
15573
85599
15728
85035
15754
86225
15985
86357
15755
86630
15746
r
87 512
15 878
r
87,646
15,622
1
87,830
1
12,509
C
646
r
27 442
25665
r
8450
r
6631
12,642
r
664
r
27 512
r
25714
r
8500
r
6702
12,692
697
27733
25897
8 456
6817
12628
682
28 106
26*326
8659
6837
12,816
676
28014
26 233
8534
6971
13095
700
28 204
26437
8629
7059
13204
704
28410
26619
8484
7026
13,238
695
28026
26263
8457
7101
13353
683
28730
26928
8477
7189
13,238
654
29016
27 193
8633
6978
13,246
C
643
29046
27 156
8847
6977
13,400
C
623
r
29 243
r
27 445
r
9186
7248
13,180
635
r
29 297
r
27 481
r
9371
r
7227
1
778
763
785
792
742
774
808
776
772
r
r
756
766
r
r
2628
2633
2602
1 176 1 180 1 232
13,118
12,821 12,974
r
4853
4864
4871
1592
1616
1613
208 453 209 223 208 442
107 824 108 434 106 236
15,345
55274
17047
100 629
36,659
2626
1 224
13,276
4915
1 574
2698
2670
1 226 1 224
13,408 13,519
4960
4 955
1 559 1 547
209 991 216 706
104 564 107 559
226 290 230 599
111 742 115 396
15,063
53 585
14,983
50738
14,800
52460
14,674
54915
17 141 16998
100,789 102,206
36,311 36,746
17568
105 427
38214
18468
109,147
40,278
19 127
114 548
43637
15,282
56040
2750
2761
1 223 1 275
13666 13,696
5020
4875
1 590
1*571
215 842
114 461
2812
1 280
13,778
5 129
1 623
14,971
61 450
19337 18030
115 203 101 381
44025 35222
17 679
100 653
34682
16,187
r
64 733
17527 17 799
103 980 107 379
36823 r38 828
30039
21 241
31735
21 384
34723
22002
35361
22 157
28 293
21 852
27726
21 715
16,856
16,578
17,446
18,305
18,907
19772
19651
16,173
15,965
r
31
r
170
21 915
17,323
14982
54 285
14914
54333
14908
56*404
14919
60078
17237
102,715
37 445
17 314
103,760
37 885
17398
104,091
37 741
17728
105,250
37 976
18213
104,994
37 997
29 663
20949
29991
21 080
29 806
21 310
30 039
21 700
30 109
21 475
14897
57 660
218 093 221 242
112 904 114 994
222 584
115704
15610
59421
15514
60 123
15 137
58 183
18106 18084
18027
105,035 105,189 106,248
38231 38405 38766
30 459
21 475
30669
21 228
30989
21 706
13,506
5,129
1
32062
22003
17,922
29492
21658
14826
53435
1
17499
108 817
39796
28763
21072
219 297 216 724
114 303 111 689
9,323
7,362
16,312
65456
15,647
63 816
28701
21023
211 534 215 396
107 443 110 146
1
772
2788
2799
2723
2707
1 216 1 314 1 325
1 209
13,677 13,581 13,567 13,537
r
5 145
5 151 r5057
5 199
1651
1 614 1 619 1633
29 188
20735
208 575 210 824
105 860 107,064
781
1
29,084
1
27,292
;
215 551 221 571 r226 793 229 201
114 898 117 591 119414 120 418
14,861
60719
14,728
57 727
r
15,949
13,459
17,939
r
224 185 224 693 226 548
116 169 115 993 117,148
15 685
r
60 656
15670
62315
18151 18182 18,162
106,880 108,016 108,700
38578 39049 r39 459
17,712
109,400
39 503
r
31 645
r
31 651
22 175
30875
21 845
15694
60631
31 275
21*910
21*949
17 235
17 341
17 640
17789
17 803
17 813
17 656
17 522
17759
18 177
18 067
18 120
48,686
6094
'663
42 592
48,474
6 221
682
42 253
47,757
6022
664
41 735
49,716
6 126
690
43 590
48,067
5 960
645
42 107
50,208
6 149
682
44 059
54,671
6743
652
47928
74,881
10383
634
64498
43,742
5206
538
38536
42,223
4854
*503
37369
^50,597
r
5790
r
641
r
44 807
49,719
6024
658
43695
13 606
15*474
15*248
3429
3 298
13 298
15689
15465
3 309
3 333
12271
16 175
15951
3 220
3 497
13 741
15*745
15520
3*814
3 517
12986
15 569
15354
3 585
3 314
14270
15 694
15479
3708
3 411
17 565
15595
15363
4*263
3*224
27 994
17 627
17 233
6678
3386
10 123
15636
15423
2734
3 147
10218
14813
14*587
2625
2986
13 487
16 649
16 384
r
3785
r
3 502
13 569
15854
15636
3646
3499
2846
49004
636
2793
49525
645
2 690
49705
635
2798
49 814
*642
2714
50 151
635
2748
50842
641
2860
50997
*618
4 146
50802
622
2924
52494
645
2846
51 858
647
r
r
3 110
51r584
650
2828
52290
648
12043
504
15 279
3,597
12268
523
15373
3609
12 271
556
15426
3679
12220
557
15 582
3626
12 401
551
15478
3712
12 688
566
15 667
3773
12793
557
15645
3778
12834
547
15400
3716
12952
548
16099
3884
12791
514
16083
3779
12 r790
513
15 953
r
3721
12928
492
16 120
3,933
1397
756
1 415
749
1 412
787
1 398
766
1 421
781
1 453
771
1 483
761
1 480
760
1 545
782
1472
751
1 474
r
744
1,544
833
2,881
2,859
2,841
2,876
2,893
2,902
2,948
2,846
3,071
3,159
r
3,049
3,025
187,461 187,581
123,590 123,907
1,684
1,684
185 777 185 897
121 906 122 223
115023 115844
6378
6,883
187,708
124,260
1,684
186,024
122,576
116,347
6,229
LABOR FORCE, EMPLOYMENT, AND EARNINGS
LABOR FORCE AND POPULATION
Not Seasonally Adjusted
Noninstitutional population, persons 16
years of age and over
thous..
Labor force @
do....
Resident Armed Forces
do....
Civilian noninstitutional population .
do....
Civilian labor force, total . . ..
do ..
Employed
do...
Unemployed
do ...
Seasonally Adjusted <>
Civilian labor force, total
do
Participation rate t
percent..
Employed, total
thous ..
Employment-population ratio t percent ..
Agriculture
thous ..
Nonagriculture
do....
Unemployed, total
.
do
Long term, 15 weeks and
over
do
See footnotes at end of tables.
184,490
121,602
1,737
182 753
119 865
112 440
7,425
186,322
123,378
1,709
184,613
121,669
114,968
6,701
65.6
65.9
61.5
3,208
109,232
62.3
3,169
111,800
1 983
1 610
187,854 187,995
124,869 127,235
1,666
1,673
186,181 186,329
123,196 125,569
117,039 118,719
6,850
6,156
186,088 186,247 186,402 186,522
122,489 124,713 125,561 125,088
1,714
1,673
1,692
1,685
184,374 184 562 184,729 184 830
120,775 123 028 123,888 123 396
114,222 116,209 117,066 116,737
6659
6,823
6,819
6,553
186 666
123,546
1,704
184 962
121 842
115 474
6368
186,801
124,119
1,687
185 114
122 432
116 250
6182
186 949
124,344
1,705
185 244
122 639
116314
6325
187 098
123,816
1,696
185 402
122 120
115978
6142
187,340
123,791
1,696
185 644
122 095
114,786
7309
121 203 121 524 121,658 122 000
66.0
65.9
65.8
65.7
114,403 115,001 115,034 115,203
62.0
62.3
62.3
62.3
3,121
3,110
3,142
3,060
111,293 111,880 111,974 112,061
6624
6523
6800
6797
121 984
66.0
115 370
62.4
3,176
112,194
6614
122 091
66.0
115,573
62.4
3,238
112,335
6,518
122 510
66.1
115,947
62.6
3,238
112,709
6,563
122 563
66.1
116,009
62.6
3,193
112,816
6554
123 428 123 181 123 264 123,659 123,610
66.4
66.5
66.3
66.3
66.5
116,711 116,853 117,136 117,113 117,215
63.0
63.0
63.0
62.9
62.9
3,112
3,104
3,206
3,223
3,300
113,411 113,630 113,930 114,009 114,102
6,395
6,328
6128
6,546
6,716
124,102
66.6
117,541
63.1
3,096
114,445
6,561
1 502
1 495
1313
1,258
1 614
1 543
1 619
1 636
1 568
1 554
1512
1 304
1310
1426
S-10
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
July 1989
1989
1988
Annual
., .,
May
1988
1987
Aug.
July
June
Nov.
Oct.
Sept.
Jan.
Dec.
Apr.
Mar.
Feb.
June
May
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
LABOR FORCE— Continued
Seasonally Adjusted 0
Civilian labor force— Continued
Unemployed — Continued
Rates(unemployed in each group as percent
of civilian labor force in the group):
All civilian workers
Men, 20 years and over
Women, 20 years and over
Both sexes, 16-19 years
White
Black
Hispanic origin
Married men spouse present
Married women, spouse present
Women who maintain families
Industry of last job:
Private nonagricultural wage and
salary workers
Construction . .
. .
Manufacturing
Durable goods
Agricultural wage and salary workers ....
Not Seasonally Adjusted
Occupation:
Managerial and professional specialty
Technical, sales, and administrative
support .
Service occupations
. .
Precision production, craft, and repair....
Operators, fabricators, and laborers
Farming, forestry, and fishing
54
46
49
14.1
4.6
11.7
87
32
39
79
54
45
5.0
15.1
4.7
11.5
81
31
40
8.5
56
49
4.8
15.4
4.9
11.4
84
34
40
7.5
5.4
4.6
4.8
15.5
4.7
10.9
75
3.1
. 3.8
8.1
5.3
4.6
4.7
15.0
4.6
11.2
7.8
3.1
3.7
7.9
54
4.8
4.7
14.1
4.6
11.2
80
33
3.8
7.7
5.3
4.7
4.7
14.8
4.6
11.6
7.6
3.1
3.7
8.2
5.4
4.6
4.7
16.4
4.6
12.0
8.4
3.1
3.6
8.0
5.1
4.5
4.5
14.8
4.3
11.9
6.8
3.1
3.4
8.0
5.0
4.2
4.6
13.7
4.2
10.9
6.5
2.9
3.5
7.9
5.3
4.6
4.7
14.4
4.6
10.8
8.3
3.2
4.0
7.6
5.2
4.3
4.8
15.2
4.4
11.0
7.9
2.9
3.8
8.3
5.3
4.3
4.9
15.6
4.5
11.9
8.1
2.8
3.8
7.9
62
116
60
5.8
10.5
55
106
53
5.0
10.6
56
10.5
5.3
4.9
12.4
54
10.3
4.9
4.5
10.0
5.4
10.4
5.2
4.9
11.0
5.6
10.7
5.5
5.0
11.0
5.4
9.6
5.4
5.2
10.8
5.4
10.0
5.3
5.0
10.2
5.5
10.6
5.1
4.9
9.3
5.4
10.4
5.2
5.0
8.8
5.6
10.4
5.3
5.0
9.5
5.1
10.0
4.9
4.4
8.9
5.0
9.4
4.8
4.7
8.9
5.4
9.7
4.9
4.7
10.5
5.2
9.3
4.9
4.5
10.3
5.3
10.0
5.2
4.6
11.0
1.9
1.7
2.0
2.3
2.6
2.1
1.9
1.6
1.7
2.1
2.0
1.8
1.8
1.9
2.0
40
69
5.4
8.4
7.2
41
6.8
5.1
8.3
6.1
40
7.0
4.8
7.2
5.0
4.1
7.0
4.6
7.3
6.0
4.1
6.6
4.2
7.6
6.1
4.2
6.5
4.3
7.7
6.7
3.9
6.8
5.0
7.0
6.3
3.8
6.8
5.2
7.8
7.5
3.5
6.2
5.3
8.2
7.5
4.3
7.0
6.7
10.0
9.2
4.0
6.3
6.8
9.2
8.5
3.8
5.9
6.1
8.3
7.9
3.6
7.0
5.6
7.8
6.3
3.9
6.6
5.1
6.9
5.4
3.8
6.9
4.9
7.6
5.1
102,200
85,190
105,584
88,212
105,533
87,861
106,459
89,033
105,560
89,120
105,729
89,431
106,601
89,416
107,279
89,571
107,736
89,827
107,917
90,098
105,915
88,380
106,342
88,463
107,017 107,944 108,742 "109,418
89,052 r89,975 '90,716 "91,634
102 200
85190
66166
24708
717
4,96719,024
11 194
741
516
586
747
1,401
2,008
2069
2,051
105 584
88212
68809
25249
721
5,125
19,403
11 437
765
530
600
774
1,431
2,082
2070
2,051
105 091
87756
68402
25,179
725
5,100
19,354
11399
762
529
599
769
1,426
2,067
2066
2,054
105 561
88199
68799
25265
726
5,139
19,400
11 431
762
529
600
773
1,432
2,077
2072
2,053
105 768
88418
68970
25323
725
5150
19,448
11 475
762
531
602
780
1,438
2,092
2072
2,058
105,954
88,578
69,153
25,303
725
5,153
19,425
11 462
761
529
600
776
1,435
2,094
2073
2,052
106,207
88,736
69,305
25,313
719
5,163
19,431
11464
763
530
600
779
1,436
2,098
2072
2,044
106,475
88,991
69,486
25,384
717
5,162
19,505
11509
770
531
603
783
1,442
2,110
2073
2,055
106,824
89,299
69,742
25,460
712
5,191
19,557
11545
775
532
605
784
1,445
2,120
2,075
2,060
107,097
89,574
69,985
25,513
711
5,213
19,589
11565
780
532
607
785
1,449
2,126
2,067
2,063
107,442
89,897
70,249
25,626
711
5,267
19,648
11,605
784
532
607
786
1,458
2,134
2,065
2,079
107,711
90,124
70,476
25,629
711
5,270
19,648
11,594
778
534
608
786
1,458
2,138
2,062
2,067
107,888 108,101 108,308 "108,488
90,291 '90,475 '90,625 "90,773
70,803 '70,964 "71,143
70,611
25,646 '25,671 '25,661 "25,610
"710
'722
720
714
"5,270
'5,278
'5,279
5,252
19,680 19,672 19,661 "19,630
11,604 11,600 11,591 "11,561
"766
'770
772
777
"532
'534
'537
535
"607
604
'606
607
"788
'787
788
788
"1,447
1,452
1,454
1,457
r
"2,151
'2,148
2,144
2,143
"2,043
'2,051
'2,058
2,060
"2,058
2,074
'2,073
2,071
do
do
do
do....
do
do
706
371
7830
1,620
55
726
749
386
7 967
1,636
56
729
743
384
7 955
1,632
55
732
748
385
7 969
1,633
56
731
751
389
7 973
l'628
55
730
755
387
7 963
1,629
55
723
756
386
7967
1,627
55
726
758
384
7996
1,644
55
726
762
387
8012
1,648
56
725
767
389
8024
1,646
56
724
770
390
8,043
1,650
56
728
772
391
8,054
1,650
56
728
776
390
8,076
1,655
56
729
777
391
'8,072
1,657
54
728
'779
'392
'8,070
1,655
53
'727
"778
"391
"8,069
"1,655
"53
"728
do....
do....
do >
do....
do ....
1,099
680
1 506
1,026
164
1,092
693
1 561
1,065
162
1,095
692
1 555
1,061
161
1,093
694
1560
1,066
162
1,091
695
1 564
1,068
162
1,085
694
1568
1,071
162
1,085
693
1,573
1,072
162
1,083
695
1577
1,074
162
1,088
695
1,581
1,075
162
1,090
696
1,588
1,079
162
1,092
696
1,595
1,084
160
1,096
696
1,595
1,085
161
1,101
697
1,600
1,088
161
1,098
696
1,601
1,090
162
1,094
'697
1,603
1,094
162
"1,092
"696
"1,608
"1,093
"163
do
do
do
do
do....
do...
do....
do
do....
do....
do.. .
do....
do....
do . . . .
do
do....
811
143
77,492
5,372
5844
18483
829
144
80,335
5,548
6029
19,110
827
145
79,912
5,522
6001
19,036
830
144
80,296
5,542
6027
19,096
836
144
80,445
5,557
6038
19,139
144
80,651
5,572
6051
19,182
830
144
80,894
5,581
6,071
19,188
836
144
81,091
5,596
6,086
19,229
839
143
81,364
5,616
6,104
19,282
840
143
81,584
5,634
6,125
19,328
839
143
81,816
5,654
6,146
19,407
843
144
82,082
5,667
6,171
19,460
845
144
82,242
5,666
6,197
19,488
843
143
82,430
5,682
'6,206
19,489
'843
142
'82,647
'5,700
'6,222
19,524
"839
"142
"82,878
"5,721
"6,229
"19,525
6547
24,236
17,010
2 943
3967
10100
6 676
25,600
17,372
2971
4063
10339
6654
25,364
17,335
2962
4059
10314
6 672
25,597
17,362
2956
4062
10344
6678
25,683
17,350
2958
4071
10321
6 686
25,784
17,376
2967
4079
10,330
6695
25,888
17,471
2985
4,088
10,398
6710
25,986
17,484
2986
4081
10,417
6726
26,111
17,525
2,983
4,085
10,457
6744
26,230
17,523
2,981
4,085
10,457
6,746
26,318
17,545
2,978
4,084
10,483
6763
26,434
17,587
2,982
4,095
10,510
6774
26,520
17,597
2,982
4,102
10,513
r
6,776
'26,651
17,626
r
2,982
4,111
10,533
'6,790
'26,728
17,683
'2,998
'4,117
10,568
"6,801
"26,887
"17,715
"2,998
"4,134
"10,583
68,976
12970
71,413
13254
71,133
13186
72,161
13336
72,201
13179
72,498
13320
72,456
13,413
72,596
13433
72,810
13,460
73,029
13420
71,336
13,312
71,391
13,318
71,923
13,348
'72,751
13,362
'73,425
13,390
"74,232
"13,488
. do...
do...
do...
do..
do..
do...
68,976
17 358
511
3877
12,970
7,439
620
413
71,413
17 775
519
4,002
13,254
7,635
637
423
71,027
17725
523
3,981
13,221
7,610
637
423
71,408
17 791
524
4,017
13,250
7,630
635
423
71,593
17 844
523
4,026
13,295
7,672
635
425
71,723
17 815
522
4,023
13,270
7,658
634
422
71,825
17 813
518
4,032
13,263
7,653
635
424
72,021
17 865
515
4,026
13,324
7,690
641
425
72,273
17 929
511
4,053
13,365
7,717
645
426
72,494
17963
510
4,068
13,385
7,730
647
426
• 72,774
18 065
510
4,132
13,423
7,758
652
426
72,949
18048
510
4,112
13,426
7.749
648
427
73,101
18052
514
4,096
13,442
7,749
646
428
'73,204
18 053
519
r
4,104
13,430
'7,744
642
428
'73,314
18 057
'520
'4,108
13,429
'7,738
'640
'428
"73,446
"18005
"508
"4,096
"13,401
"7,716
"636
"425
do ..
do
do..
do..
do ..
do..
453
563
1,039
1,19
1,214
1,292
466
592
1,067
1,252
1,224
1,281
465
589
1,062
1,243
1,220
1,28
467
593
1,067
1,247
1,224
1,281
469
599
1,073
1,26
1,226
1,287
468
595
1,070
1,260
1,227
1,284
466
597
1,069
1,261
1,227
1,276
469
600
1,076
1,270
1,228
1,283
470
601
1,079
1,279
1,233
1,283
472
602
1,082
1,285
1,224
1,285
473
603
1,089
1,292
1,222
1,294
474
602
1,087
1,298
1,218
1,286
472
603
1,086
1,298
1,214
1,292
471
603
1,080
1,298
1,213
1,297
470
'60
1,079
1,304
1,207
1,295
"471
"602
"1,076
"1,306
"1,205
"1,281
do
do . .
384
270
412
281
409
28
412
281
414
283
416
282
417
281
419
279
421
280
425
282
424
283
425
284
427
283
'428
284
430
'284
"430
"284
do...
do...
do...
do...
do
do..
Seasonally Adjusted
Production or nonsupervisory workers on private
nonagricultural payrolls
•
thous.
See footnotes at end of tables.
56
49
49
15.6
4.7
12.1
88
33
39
84
43
77
6.1
9.4
7.1
Services
do...
Government
do...
Federal
do
State.
...
do
Local.. .
..
do
Production or nonsupervisory workers on private
nonagric. payrolls, not seas, adjusted
thous.
Manufacturing
do
Mining
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass
products
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equip
Transportation equipment
Instruments and related
products
Miscellaneous manufacturing
55
48
49
15.3
4.7
11.7
82
33
39
81
2.3
EMPLOYMENT §
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seas, variation
thous..
Private sector (excl. government)
do....
Seasonally Adjusted
Total employees, nonagricultural
payrolls
Private sector (excl government)
Nonmanufacturing industries ..
Goods-producing
..
Mining
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay and glass products
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equip
Transportation equipment
Instruments and related
products
Miscellaneous manufacturing
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
..
Apparel and other textile
products
Paper and allied products
Printing and publishing
.
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
Service-producing
Transportation and public utilities
Wholesale trade
.
Retail trade
Finance, insurance, and real
62
54
54
16.9
5.3
13.0
88
39
43
92
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
S-ll
SURVEY OF CURRENT BUSINESS
July 1989
., ..
1989
1988
Annual
unils
1987
1988
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
May
June
'5,691
1,185
38
630
"5,685
"1,183
"38
"630
927
524
889
609
105
924
525
891
'614
106
"922
"525
"894
"612
"107
660
118
55,151
4,735
'4,996
17,235
660
118
'55,257
'4,752
'5,006
17,268
"656
"118
"55,441
"4,765
"5,016
"17,273
Apr.
Mar.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT §— Continued
Seasonally Adjusted
Production or nonsupervisory workers— Continued
Nondurable goods
thous
Food and kindred products
do....
Tobacco manufactures
do....
Textile mill products . .
do
Apparel and other textile
products
do ..
Paper and allied products
do....
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products
do....
Rubber and plastics products, nee
do
Leather and leather products
do....
Service-producing
do....
Transportation and public utilities
do
Wholesale trade
.
do
Retail trade
do
Finance, insurance, and real
estate
do....
Services
do....
r
5,686
1,184
40
630
5 531
1,148
42
630
5619
1,163
42
632
5611
1,160
42
634
5620
1,161
42
633
5623
1,157
41
634
5612
1,158
41
626
5610
1,156
40
629
5,634
1,169
41
629
5,648
1,173
42
628
5,655
1,172
42
628
5,665
1,175
41
630
5,677
1,177
41
630
5,693
1,182
41
630
923
516
841
575
107
919
524
874
596
105
921
523
870
594
105
919
525
873
597
105
917
526
874
598
106
912
525
877
600
106
912
523
878
600
106
912
524
881
602
106
916
525
883
602
106
919
525
886
604
105
922
524
887
607
104
926
524
888
608
105
930
525
891
610
105
629
120
51,618
4455
4682
16431
646
119
53,637
4 610
4854
16936
642
120
53,302
4585
4,832
16,871
646
119
53,617
4604
4857
16,925
651
119
53,749
4618
4867
16,959
649
118
53,908
4,631
4,876
17,001
647
119
54,012
4,635
4,890
16,997
652
118
54,156
4,653
4,903
17,017
655
, 118
54,344
4,671
4,917
17,066
656
118
54,531
4,691
4,931
17,106
656
119
54,709
4,704
4,948
17,171
659
119
54,901
4,718
4,970
17,215
660
119
55,049
4,718
4,990
17,244
4,808
21,242
4,849
22,389
4,835
22,179
4,845
22,386
4,850
22,455
4,856
22,544
4,858
22,632
4,866
22,717
4,873
22,817
4,879
22,924
4,886
23,000
4,893
23,105
4,900
23,197
'4,902
'23,283
'4,917
'23,314
"4,927
"23,460
34.6
347
42.2
38.3
34.9
347
42.5
38.7
35.1
34.8
42.4
38.6
35.0
34.6
42.0
38.6
34.8
34.7
42.2
38.4
34.9
34.8
42.6
39.1
34.7
34.7
41.9
37.8
34.9
34.7
42.8
37.3
34.5
34.8
42.2
36.5
34.3
34.6
41.7
36.2
34.4
34.7
42.0
37.4
34.8
34.9
'42.8
37.9
34.5
34.6
'42.1
37.7
"34.7
"34.6
"42.3
"37.9
41.2
41.1
39
41.8
4.1
40.2
39.4
42.4
436
42.0
42.6
40.7
41.1
3.9
41.8
4.1
40.4
39.6
42.2
435
41.9
42.8
40.9
41.0
3.9
41.7
4.1
40.1
39.2
42.2
435
41.8
42.5
41.3
41.1
39
41.9
4.1
40.1
39.6
42.3
439
42.0
42.7
41.3
41.2
4.0
41.9
4.2
40.7
39.4
42.5
43.7
41.9
42.7
41.5
41.2
3.9
41.9
4.2
40.3
39.5
42.6
43.7
42.1
42.5
41.7
41.0
3.9
41.7
4.1
40.3
39.4
42.4
43.5
41.8
42.5
41.0
41.1
3.9
41.8
4.1
40.3
39.8
42.5
43.6
41.9
42.5
40.8
41.1
3.9
41.8
4.1
39.6
39.7
42.2
43.4
41.9
42.6
41.0
41.0
4.0
41.7
4.1
40.0
39.8
42.2
43.5 41.8
42.5
41.0
41.3
'3.9
'41.9
4.1
'40.5
39.9
r
42.5
r
43.3 ,
r
41.9
42.7
40.9
41.0
3.8
41.5
3.9
39.7
r
39.4
'41.9
'43.2
'41.7
42.5
"41.0
"40.9
"3.8
"41.5
"3.9
"39.9
"39.4
"41.9
"43.1
"41.4
"42.4
r
r
r
AVERAGE HOURS PER WEEK §
Seasonally Adjusted
Avg. weekly hours per worker on private nonag.
payrolls: <)
Not seasonally adjusted
hours..
Seasonally adjusted . .
do
Mining $
do
Construction $
do
Manufacturing:
/
Not seasonally adjusted
do....
Seasonally adjusted
do....
Overtime hours
do
Durable goods
do....
Overtime hours
do....
Lumber and wood products
do....
Furniture and fixtures
do .
Stone, clay, and glass products
do ....
Primary metal industries
do
Fabricated metal products
do....
Machinery, except electrical
do....
Electric
and
electronic
equip
do
Transportation equipment
do....
Instruments
and related
products
do....
Miscellaneous manufacturing
do . . . .
Nondurable goods
..
do
Overtime hours
do
Food and kindred products
do....
Tobacco manufactures $
do....
Textile mill products
do....
Apparel and other textile
products
.
do
Paper and allied products
do....
Printing and publishing
do....
Chemicals and allied products
do....
Petroleum and coal products $
do
Rubber and plastics products, nee
do....
Leather and leather products
do....
Transportation and public utilities
do....
Wholesale trade. . . .
do
Retail trade
do
Finance, insurance, and real
estate t
do
Services . . .
.
do
34.8
34.7
424
378
423
379
41.0
41.1
37
41.5
3.8
40.6
40.0
42.3
431
41.6
42.2
39
41.8
4.1
40.3
39.4
42.3
43 6
41.9
42.6
41.0
41.1
39
41.8
4.2
40.1
39.6
42.3
437
42.0
42.6
409
42.0
41 0
42.7
41 0
42.8
41 0
42.9
41 0
42.7
409
42.7
409
43.0
41 0
43.1
41 0
43.1
40.8
42.8
40.9
42.8
40.9
43.1
40.6
43.1
41.0
42.8
'40.7
'42.5
"40.6
"42.5
41.4
39.4
40 2
36
40.2
39.0
41.8
41.5
39.2
40 1
37
40.3
39.8
41.1
41.5
39.3
400
36
40.1
39.4
40.9
41.4
39.4
40 1
36
40.3
39.8
40.8
41.7
39.3
402
37
40.4
39.3
41.0
41.5
39.3
401
36
40.3
40.1
41.0
41.6
39.2
40 2
37
40.3
41.2
41.0
41.8
39.1
402
37
40.4
41.3
41.0
41.6
39.3
402
3.6
40.6
40.3
41.0
41.1
39.0
40.0
3.6
40.2
39.9
40.5
41.5
39.4
40.1
3.6
40.1
38.0
40.9
41.5
39.5
40.2
3.7
40.3
37.8
40.8
41.1
39.5
40.1
3.8
40.4
36.3
41.1
41.5
39.8
40.4
3.8
40.7
'38.1
41.7
41.2
'39.5
40.2
3.7
40.6
'39.5
'41.4
"41.1
"39.1
"40.2
"3.7
"40.7
"38.7
"41.4
370
43.4
38.0
42.3
440
37 0
43.2
38.0
423
44 4
369
43.3
37.8
42.1
44 1
37 0
43.2
38.0
42.4
45 1
37 0
43.2
38.0
42.3
453
369
43.2
38.0
42.2
44 6
371
43.2
38.1
42.3
448
369
43.2
38.0
42.5
447
370
43.1
37.9
42.3
442
36.8
43.2
37.8
42.3
44.3
37.0
43.1
38.0
42.3
43.5
37.1
43.2
38.0
42.3
44.0
36.9
43.3
37.9
42.3
43.2
37.6
'43.4
37.9
42.6
r
44.3
'37.1
'43.3
'37.7
'42.2
'43.7
"37.0
"43.2
"37.9
"42.3
"43.3
41.6
38.2
39.2
381
292
41.7
37.5
39.3
381
291
41.8
37.4
380
290
41.7
37.1
39.4
380
291
41.7
37.2
39.4
381
293
41.6
37.5
39.3
379
290
41.7
37.5
39.4
381
291
41.6
37.8
39.4
381
292
41.7
37.3
39.3
38.0
29.0
41.4
37.7
39.4
38.1
29.1
41.7
38.0
39.6
38.1
29.1
41.7
38.6
39.4
38.1
28.9
41.6
38.0
39.4
38.1
28.9
'41.6
38.3
40.1
38.3
29.1
'41.5
'37.4
'39.6
'37.9
28.9
"41.5
"37.9
"39.6
"38.0
"28.9
363
325
35 9
326
35 8
325
358
325
36 1
327
357
325
358
326
360
327
357
325
358
32.7
36 1
32.7
358
32.5
35.8
32.6
36.3
32.8
35.6
32.5
"35.8
"32.4
189.93
15632
1.58
976
40.53
10.96
1160
2807
196.51
161 73
1.58
10 10
41.42
11.36
11 95
28.92
195.44
16054
1.59
1001
41.28
11.30
11 84
28.69
196.43
16165
1.61
1021
41.45
11.37
1190
28.85
197.24
16263
1.59
10 13
41.54
11.45
1199
29.16
196.77
161.88
1.58
1012
41.43
11.41
1192
28.93
197.53
16242
1.58
1010
41.52
11.43
1201
29.00
198.76
163.58
1.58
10.26
41.72
11.49
12.05
29.16
198.14
163.57
1.55
1038
41.84
11.51
12.05
29.09
199.16
164.08
1.56
10.27
41.72
11.56
12.11
29.30
200.31
164.99
1.56
10.29
41.93
11.64
12.16
29.44
200.32
164.72
1.55
10.32
41.95
11.63
12.23
29.24
200.33
165.01
1.57
10.34
41.91
11.62
12.28
29.29
'202.10
166.62
1.61
10.41
'42.08
11.81
12.37
29.47
'200.86
165.19
1.57
10.20
'41.87
11.74
12.24
'29.32
"200.96
"165.57
"1.56
"10.27
"41.81
"11.82
"12.30
"29.31
12.37
41.45
3361
12.50
43.90
3478
12.38
43.44
3490
12.46
43.81
3478
12.59
44.19
34.61
12.43
44.06
34.89
12.48
44.31
35.11
12.59
44.73
35.18
12.51
44.65
34.57
12.58
44.97
35.08
12.69
45.28
35.32
12.61
45.20
35.60
12.62
45.38
35.32
r
46.09
r
12.79
35.49
12.61
'45.63
'35.67
"12.68
"45.82
"35.39
120.7
98.9
808
1327
932
90.7
96.9
132.8
124.9
101.5
818
1375
955
93.6
98.3
137.8
124.0
101.1
825
136.0
95.2
93.4
97.8
136.6
124.8
101.8
830
138.7
95.5
93.7
98.2
137.6
125.6
102.0
83.5
137.9
95.9
94.2
98.4
138.7
125.1
101.5
81.6
137.8
95.5
93.7
98.0
138.1
125.6
101.8
81.1
138.1
95,7
94.1
98.2
138.8
126.3
102.4
81.2
139.4
96.2
94.6
98.6
139.6
126.3
102.8
80.0
141.1
96.5
94.9
98.8
139.2
126.8
102.3
80.2
139.4
96.2
94.6
98.4
140.3
127.4
103.0
79.9
141.2
96.7
95.2
98.9
140.9
127.2
102.9
80.1
140.5
96.7
95.0
99.3
140.6
127.6
102.9
81.1
140.3
96.7
94.9
99.5
141.2
128.7
103.5
'83.4
141.0
97.2
95.2
100.1
142.6
127.6
102.4
'81.8
138.1
96.5
94.4
'99.6
141.5
"127.8
"102.2
"80.1
"138.5
"96.2
"93.9
"99.5
"141.9
109.0
118.7
122.4
1132
122.8
125.5
112.6
122.0
124.6
113.4
122.7
125.4
113.7
123.3
126.5
113.7
122.8
125.5
114.1
123.8
125.9
114.6
124.2
126.5
114.7
124.2
126.0
115.5
124.9
126.7
116.4
125.3
127.2
116.2
125.9
126.7
116.2
126.4
126.9
118.6
127.2
127.7
117.6
126.1
127.1
"117.9
"126.7
"127.1
140.9
152.8
140.9
161.5
140.3
159.4
140.2
160.9
141.5
162.4
140.1
162.1
140.9
163.2
141.6
164.3
140.6
164.0
141.2
165.8
142.1
166.4
140.8
166.1
141.8
167.3
143.8
168.9
141.9
167.6
"142.5
"168.1
on o
r
r
r
AGGREGATE EMPLOYEE-HOURS §
Seasonally Adjusted
Employee-hours, wage & salary workers in nonagric. establish, for 1 week in the month,
seas adj. at annual rate
bil. hoursTotal private sector
do
Mining
do....
Construction
do
Manufacturing
do....
Transportation and public utilities
do....
Wholesale trade
. . .
do
Retail trade
do
Finance, insurance, and real
estate
do....
Services
do ....
Government
do
Indexes of employee-hours (aggregate weekly): <>
Private nonagric. payrolls, total
1977 = 100..
Goods-producing
do ...
Mining
do
Construction
do
Manufacturing
do
Durable goods
do
Nondurable goods
do...
Service-producing
do ...
Transportation and public
utilities
.
do
Wholesale trade
do
Retail trade
do..
Finance, insurance, and real
estate
do...
Services
do...
See footnotes at end of tables.
S-12
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
SURVEY OF CURRENT BUSINESS
Annual
,, .,
1987
July 1989
1989
1988
1988
July
June
May
Sept.
Aug.
Nov.
Oct.
June
May
Apr.
Mar.
Feb.
Jan.
Dec.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS §
Average hourly earnings per worker: 0
Not seasonally adjusted:
Private nonagric. payrolls
Mining
Construction
Manufacturing
Excluding overtime
.
Durable goods.. . .
....
Excluding overtime
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric
and
electronic
equip
Transportation equipment. .
Instruments and related
products
Miscellaneous manufactur-
ing . .
Nondurable goods
Excluding overtime
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile
products
...
Paper and allied products...
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products nee
Leather and leather products
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real
estate
Services
8.98
1254
1271
9 91
948
1044
9.98
840
7.67
1025
11.94
10.00
10.72
9.29
1275
13 01
10 18
972
1071
10.21
861
7.94
1047
12.15
10.26
11.01
9.26
12.60
12 91
10 14
970
1068
10.19
854
7.89
10.44
12.12
10.25
10.94
9.23
1261
1289
10 16
970
1070
10.19
860
7.93
1047
12.14
10.29
10.97
9.24
12.72
1296
1017
973
1067
10.21
866
7.99
1053
12.22
10.20
10.98
9.24
12.69
1299
1013
967
1065
10.16
858
8.02
10.45
12.10
10.21
10.97
9.40
12.82
13 16
1025
975
1078
10.25
869
8.09
10.55
12.24
10.34
11.09
9.45
12.79
1317
1025
976
1079
10.26
8.77
8.06
10.57
12.19
10.34
11.11
9.46
12.89
1308
1031
982
1085
10.32
8.69
8.02
10.60
12.22
10.36
11.22
9.46
13.03
13.19
10.37
9.88
10.90
10.36
8.76
8.06
10.57
12.26
10.44
11.24
9.54
13.20
13.26
10.37
9.91
10.90
10.40
8.71
8.10
10.59
12.27
10.45
11.21
9.55
13.22
13.21
10.38
9.92
10.91
10.41
8.69
8.08
10.62
12.27
10.46
11.23
9.56
13.15
13.26
10.41
9.94
10.93
10.43
8.68
8.13
10.62
12.27
10.47
11.25
'9.62
13.19
13.30
10.41
9.95
10.93
10.44
8.76
'8.12
10.71
12.26
10.48
11.26
'9.59
13.14
13.29
10.42
'9.98
10.94
10.47
'8.78
8.15
10.70
12.25
10.50
11.28
do....
do
9.88
1294
10.13
1331
10.12
13.26
10.15
1330
10.13
1319
10.15
13.21
10.19
13.44
10.16
13.45
10.24
13.56
10.29
13.59
10.27
13.58
10.26
13.59
10.30
13.65
10.31
13.60
10.33
13.57
"10.35
"13.67
"9.98
"10.97
"10.48
"8.87
"8.21
"10.73
"12.27
"10.49
"11.34
do....
9.72
9.98
9.90
9.90
9.96
9.94
9.99
10.08
10.07
10.13
10.12
10.14
10.17
10.17
10.17
"10.20
776
918
878
8.93
14.07
7 17
801
943
9.02
9.10
14.68
737
797
9.38
9.00
9.14
15.38
731
796
9.40
9.00
9.11
15.92
733
798
9.46
9.05
9.12
15.78
731
7.95
9.41
8.98
9.02
14.97
737
8.01
9.50
9.05
9.11
14.09
743
8.10
9.49
9.05
9.03
14.01
7.45
8.12
9.54
9.11
9.15
14.56
7.47
8.20
9.61
9.18
9.25
14.31
7.52
8.22
9.62
9.22
9.27
14.39
7.60
8.23
9.62
9.22
9.26
14.75
7.59
8.23
9.66
9.24
9.33
15.34
7.59
'8.21
9.65
'9.25
'9.32
15.87
'7.60
'8.26
9.68
'9.28
'9.34
16.13
'7.62
"8.27
"9.70
"9.28
"9.38
"16.63
"7.64
do
do
do..
do....
do....
594
1143
1028
12.37
14.58
612
1165
1052
12.67
14.98
6.07
11.66
10.43
12.58
14.86
610
1166
10.43
12.60
14.96
6.03
11.72
10.48
12.70
14.93
6.09
11.65
10.54
12.62
14.84
6.21
11.72
10.70
12.75
15.01
6.22
11.68
10.68
12.78
15.14
6.25
11.74
10.67
12.86
15.18
6.29
11.81
10.70
12.90
15.21
6.32
11.78
10.73
12.85
15.24
6.32
11.80
10.74
12.88
15.45
6.34
11.84
10.79
12.91
15.46
'6.32
11.83
10.73
12.92
15.50
'6.32
11.89
10.76
12.99
15.36
"11.93
"10.72
"13.06
"15.19
do
do....
do ...
do....
do ....
892
6.08
1203
9.60
6.12
914
6.27
1232
9.94
6.31
907
6.26
12.28
9.90
6.28
9 10
6.26
12.27
9.88
6.27
915
6.19
12.32
9.95
6.28
9.17
6.22
12.35
9.91
6.26
9.22
6.30
12.40
10.04
6.38
9.23
6.33
12.42
10.10
6.39
9.26
6.41
12.46
10.07
6.43
9.31
6.44
12.42
10.14
6.43
9.32
6.48
12.47
10.23
6.48
9.31
6.49
12.50
10.23
6.47
9.33
6.54
12.46
10.21
6.48
'9.35
6.55
12.51
10.36
'6.52
'9.40
'6.57
12.50
10.27
'6.49
"12.48
"10.28
do
do ..
873
849
909
8.91
908
885
897
8.79
9.03
8.80
9.03
8.81
9.14
9.00
9.29
9.09
9.27
9.11
9.32
9.16
9.46
9.25
9.47
9.28
9.43
9.29
9.59
'9.34
'9.47
9.31
"9.44
"9.25
8.98
12.54
12.71
991
1203
960
612
9.29
12.75
13.01
1018
1232
994
631
9.26
C1)
12.94
10 14
1234
990
628
9.27
C1)
12.97
10 18
1232
990
630
9.31
13.05
1018
1235
998
632
9.32
C1)
13.03
1021
1237
995
633
9.37
C1)
13.07
1025
1237
1003
636
9.43
C1)
13.08
1029
1241
1014
638
9.42
C1)
13.10
1030
1239
1006
6.40
9.45
C1)
13.15
1031
12.36
10.11
6.43
9.49
C1)
13.18
10.33
12.45
10.19
6.44
9.52
C1)
13.22
10.37
12.48
10.18
6.45
9.54
(')
13.26
10.40
12.50
10.21
6.47
'9.61
C1)
13.33
10.40
12.52
10.36
'6.51
9.61
C1)
13.33
10.42
12.55
10.27
'6.49
"13.35
"10.45
"12.54
"10.30
8.73
849
9.09
891
9.06
888
9.01
887
9.11
8 93
9.09
895
9.18
9 00
9.35
907
9.26
905
9.35
910
9.40
9.15
9.35
9.19
9.36
9.24
9.54
'9.32
'9.44
9.34
"9.49
"9.33
173 5
94 o
1822
154 9
174 9
176 1
177 1
160 9
1790
93 3
185 5
158 3
178 8
181 1
182 7
165 9
1787
93 6
184 2
157 5
178 4
181 6
1822
165 4
178 6
93 2
184 6
157 8
178 8
181 0
181 7
165 7
1793
93 2
1858
158 8
178 8
181 5
1830
166 8
179 5
929
1856
158 6
179 3
181 9
182 1
166 7
180 3
930
1866
159 3
180 0
182 0
1845
167 1
1815
93 1
186 5
159 2
180 5
183 1
1860
168 4
1814
929
187 1
159 3
180 7
1829
185 1
168 9
181.7
927
1873
1599
1809
1828
1866
168 2
(2)
187 5
181 1
1957
189 8
1959
189 9
194 0
189 4
194 8
190 8
1952
190 9
197 0
191 9
200 2
1940
199 5
1933
2002
(2)
193 9
(2)
1686
22 12
1425
1733
22 67
1500
1720
1736
17.60
17.62
17.63
17.64
17.64
17.64
17.64
2280
2289
2294
2299
22.99
23.02
23.05
23.05
23.05
17.74
23.12
151
1506
1741
2271
1487
17.55
2254
1740
22 61
1504
17.42
2258
15.03
14.9
15.1
15.28
15.30
15.59
15.25
15.33
15.35
312 50
1692
32236
321 3
1682
32167
167.89
3239
168.39
32247
16682
3251
167.6
328.1
168.5
326.8
167.2
327.92
167.39
330.25
167.55
329.39
166.44
331.04
166.44
'335.39
167.53
332.5
165.18
"332.85
"165.10
312.5
5317
4804
406.3
4332
3690
322.36
5393
4930
320.4
322.13
53593
49884
324.3
5393
500.2
323.40
53298
418.4
447.6
378.1
415.7
445.3
374.2
418.5
449.4
376.94
413.9
439.6
377.4
439.8
378.2
327.1
5410
505.3
423.3
452.7
384.7
329.8
544.8
4944
514.9
423.3
453.1
382.4
328.2
540.0
494.4
427.8
457.8
386.3
330.1
557.6
491.9
432.4
463.2
389.2
329.1
557.0
483.9
425.1
455.6
383.8
327.57
551.27
478.20
423.50
452.77
382.88
328.86
552.30
495.9
426.8
455.7
385.4
'334.78
'564.53
504.07
426.8
455.7
386.97
'330.8
'553.19
'501.0
'426.1
'454.0
'388.1
"332.43
"554.13
"502.93
"428.04
"456.35
"389.94
4715
484 1
3787
183.6
4801
4846
376.4
4903
376.2
489.8
382.5
490.5
385.8
489.6
382.6
490.5
387.3
490.0
387.7
'497.9
'395.7
'492.5
'389.2
184.3
186.5
185.6
185.9
185.1
190.3
184.0
488.75
386.69
183.10
488.4
386.9
181.4
381.0
188.4
4903
3765
1787
184.6
188.4
186.9
"496.70
"391.67
"189.51
316.9
2759
326.3
2904
325.0
2867
321.1
2874
325.9
290.4
322.3
2889
327.2
292.5
334.4
297.2
330.9
296.0
333.6
298.6
341.5
301.5
339.03
300.67
337.5
348.1
'337.1
'306.3
301.6
Construction
do
TransDortation and nubl'c utilit'e
Wholesale trade #
Retail trade
Finance, insurance, and real
estate tt
do
do
do
do
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (ENR): §§
Common labor
$ per hr .
Skilled labor
do
Railroad wages (average, class I)... .
.do
Avg. weekly earnings per worker,
private nonfarm: <^
Current dollars, seasonally adjusted
1977 dollars, seasonally adjusted t
Current dollars, not seasonally adjusted:
Private nonfarm, total
dollars
Mining
do
Construction
.do
Manufacturing
do ..
Durable goods
do.
Nondurable goods
do..
Transportation and public
utilities
....
do
Wholesale trade
.do
Retail trade
do
Finance, insurance, and real
estate
do..
Services
do
3657
1678
5317
EMPLOYMENT COST INDEX
Civilian workers f
6/81 — 100
Workers, by occupational group
White-collar workers
do
Blue-collar workers
do
Service workers
.
do
Workers, by industry division
Manufacturing
do
Nonmanufacturing
do
Services
...
do
HELP-WANTED ADVERTISING
Seasonally adjusted index
1967 — 100
"13.10
"13.27
"10.44
do
do.
do...
do....
do....
do
Seasonally adjusted:
Private nonagricultural payrolls
dollars . .
Mining
do....
Construction
do ....
Manufacturing
do
Transportation and public utilities
do
Wholesale trade
do
Retail trade
do
Finance, insurance, and real
estate
do....
Services
do
Indexes of avg. hourly earnings, seas, adj.: 0
Private nonfarm economy:
Current dollars
1977 — 100
1977 dollars $
do
See footnotes at end of tables.
"9.58
dollars..
do...
do
do
do
do
do....
do.
do....
do....
do....
do....
do....
t1)
5014
414.3
"6.35
"9.41
"6.53
"6.49
"9.62
0)
"6.52
(2)
(2)
(2)
(2)
(2)
(2)
(2)
301.0
"337.95
"301.55
142
15
16
145.
147.
148.9
147
137
147.
149
138
148
151.
139.
150.
153.4
141.3
151.2
138
143
153
151
15
144.
145
136
144
139
146
157
154
140
147
159.
154
141.
149.
161.
156
143.5
151.2
163.1
157.9
15
15
16
15
16
15
16
15
15£
15
15
15
148
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
S-13
SURVEY OF CURRENT BUSINESS
July 1989
IT .,
Unlts
1987
1989
1988
Annual
1988
June
May
Aug.
July
Sept.
Nov.
Oct.
Dec.
Mar.
Feb.
Jan.
June
May
Apr.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WORK STOPPAGES
Work stoppages involving 1,000 or more workers:
Number of stoppages:
Beginning in month or year
number..
Workers involved in stoppages:
Beginning in month or year
thous..
Days idle during month or year
do...
UNEMPLOYMENT INSURANCE *
State programs:
Initial claims
thous
Average weekly insured unemployment
do
Rate of insured unemployment @
percent
Total benefits paid
mil. $..
Weeks of unemployment compensated
thous
Average weekly benefit
dollars
Federal civilian employees unemployment
insurance (UCFE):
Initial claims
thous
Average weekly insured unemployment
do
Total benefits paid
..
mil $
Weeks of unemployment compensated . .
thous
Average weekly benefit
dollars..
Veterans unemployment insurance (UCX):
Initial claims
thous
Average weekly insured unemployment
do
Total benefits paid
mil $
Weeks of unemployment compensated
thous
Average weekly benefit
dollars..
46
40
5
7
4
7
2
3
1
0
3
0
2
3
7
0
174
4481
114
4381
14
344
14
490
21
726
12
713
4
510
9
293
2
78
0
52
7
153
0
138
30
950
37
1,045
55
1,500
0
938
17 054
15 904
1 085
1 200
1 465
1 189
1 031
1 107
1 277
1 633
1 856
1 319
1 363
1 117
2 286
24
14,262
2047
21
13,195
1 974
'19
1,017
1 902
19
1,020
1 890
20
925
1 955
19
1,075
1 655
'17
876
1 602
16
784
1 686
18
943
1 824
21
1,085
r
r
2 520
25
1,513
2244
21
1,141
19
1.9
105 226
140 62
94 267
14422
7 289
14504
7 339
14372
6738
141 75
7 731
143 35
6 313
143 84
5710
144 26
6748
13607
7 638
147 19
r
9 231
14570
10 385
150 70
7 882
149 83
118 5
120 6
86
11 3
12 5
11 0
89
109
95
95
11 9
221
1434
21 1
1322
1 009 5 1 047 6
130.97
136.93
2 509
26
1,295
192
99
198
107
207
105
243
135
216
113
228
11 5
23 8
134
225
131
269
147
706
139.96
79 5
134.64
762
137.19
99 8
135.22
849
133.07
86 1
133.95
97 8
137.35
952
137.94
1037
141.78
2618
26
1,252
r
8722
148 28
r
80
79
81
258
13.3
229
144
200
10.4
r
911
145.55
r
979
146.96
720
144.23
r
r
1413
1412
16.3
13.1
10.3
9.7
8.3
8.5
9.4
9.9
9.1
10.8
9.0
178
1221
181
1243
226
119
256
155
230
131
203
134
143
83
125
67
123
70
128
75
163
r
88
16.5
r
8.3
156
r
9.5
150
7.9
813 2
151.97
7929
156.63
757
156.69
975
158.90
863
151.64
81 9
163.58
532
155.64
428
156.83
44 1
159.26
476
158.32
r
558
157.69
r
522
158.44
r
601
158.53
494
159.00
63452
62 253
65961
66631
62212
62812
10.8
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
mil $
Commercial and financial company
paper total
do
Financial companies
do
Dealer placed
do
Directly placed ..
do
Nonfinancial companies
do
Loans of the Farm Credit System: **
Total, end of period ...
mil $
Federal land banks and Federal
land bank associations
do .
Federal intermediate credit banks and
production credit associations
do
Banks for cooperatives . .
...
do
Federal Reserve banks, condition, end of period:
Assets total # .
mil $
Reserve bank credit outstanding total #
do
Loans
do . .
U.S. Government securities .
do
Gold certificate account
do
Liabilities, total #
do. .
Deposits, total
do
Member-bank reserve balances
do....
Federal Reserve notes in circulation
^...do....
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total . . . .
..
mil $
Required
do
Excess
do
Borrowings from Federal Reserve
banks
do
Free reserves t
do....
Large commercial banks reporting to Federal
Reserve System, last Wed. of mo.: $
Deposits:
Demand, total #
...
mil $
Individuals, partnerships, and
corporations
....
do
States and political subdivisions
do....
U S. Government .
do
Depository institutions in U.S
do....
Transaction balances other than demand
deposits -tt
do
Nontransaction balances, total $$
do
Individuals, partnerships, and
corporations
do
Loans and leases(adjusted) total §
do
Commercial and industrial
do....
For purchasing and carrying
securities
do . .
To nonbank depository and other
financial.
do
Real estate loans
do....
To States and political subdivisions
do...
Other loans
do...
Investments, total
do ...
U.S. Treasury and Govt. agency securities,
total
do
Investment account
do...
Other securities
do ...
See footnotes at end of tables.
;
66 678
63 381
64359
63240
64 036
2
373 586 r451 762
2
287 274 r354 127
2
115 034 161 535
2
172 240 192 592
2
r
415 492
324 985
139 339
185 646
90 507
415 125
324 953
143 026
181 927
90 172
419 003
327 959
143 725
184 234
91 044
422 090
331 754
145 427
186 327
90336
70 565
425 104 429 549
332 630 332 513
151 039 147 759
181 591 184 754
97 036
92474
442 396 r451 762 r468 690
344 544 r354 127 r362 469
151 581 161 535 163 718
192 963 192 592 198 751
97 852 r97 635 106 258
62458
64357
62,396
5
487 007 r486 783
5
377 749 r377 094
5
174 807 173 464
5
202 942 203 630
5
109 258
109,689
498 606
379 647
172 577
207 070
118,959
501 589
378 388
170,122
208,266
123,201
284 582
86312
97 635
52498
51 428
53 110
52 583
51 428
34346
(4)
33048
(4)
(4)
9 927
8225
(4)
(4)
9990
10 127
9 935
275 566
293 674
269 989
277 442
275 408
274 592
285 185
279 331
285 638
293 674
286 771
281 635
303 807
286,551
295,816
236 046
3,815
222 551
11 078
275,566
48368
41,784
250 945
2170
238 422
11 060
293 674
48898
39,347
233 886
3304
223 192
11 063
269 989
42354
38,758
239 867
2464
227 636
11 063
277 442
46 176
35,681
236 075
3650
224 450
11 063
275 408
44 464
39,994
233 882
3237
222 795
11 061
274 592
42881
37,868
243 607
2 154
229 181
11 062
285 185
52757
39,038
238 370
2275
225 638
11 062
279 331
46 547
39,741
243 803
2328
232 702
11 059
285 638
45859
40,012
250 945
2170
238 422
11 060
293 674
48898
39,347
241 413 230 795 238 435
2,454
1,602
863
232 933 229 499 228 643
11061
11 061
11 056
286 771 284,582 281,635
42587
44 126
48245
37,394
36,985
35,810
257 498
1,952
232 150
11,061
303,807
61753
37,968
234 286
2,033
223 535
11,060
286,551
39,794
33,553
239 059
841
231,767
11,063
295,816
50,038
37,381
212,890
229,640
215,168
217,812
217,240
218,068
217,676
219,232
224,535
229,640
221,619
224,857
225,336
229,372
230,848
3
62 123
3
3
63 739
3
62 699
3
60212
59,255
957
61 288
60,511
776
r
58911
r
61 094
3 1 029
3
111
3
735
(4)
9 990
9734
63 739
62 407
62699
61 287
1 119 1 040
63 468
62323
1 145
60 693
59539
1 154
1 716
568
1 662
529
1 487
717
1 040
3
222,769
60 681
59 641
1 040
61 991
61 103
888
62 756
61 749
1 007
61 965
61 012
953
62 153
61 181
972
61 915
60 853
1 062
1 716
3
568
2 578
569
3 083
359
3 440
105
3 241
365
2839
192
2 299
544
2 861
580
1 813
478
2289
194
59 588
57,881
58,682
905
1 031
1 720
r
508
1490
332
247 359
247 292
215 417
233 070
226 623
229 814
221 621
215 612
240 926
247 292
219 344
228 937
217 181
220 021
244 260
219,534
190 558
6,744
3 258
27,448
195 477
6,993
2706
24,194
170 851
5,629
2 121
21,035
182 936
5,979
3 008
22,360
177 802
6,156
2899
22,710
184 300 174 338
6,157
5,788
2083
1 656
20,696
21,829
172 675
5,575
2 610
20,272
191 827
6,456
2950
22,105
195 477
6,993
2706
24,194
175 018
6,770
2 531
19,438
180 983 173 678
5,209
5,868
2983
1 709
23,360
18,950
174 718
6,247
4 649
18,566
190,131
5,892
2678
25,996
173,822
6,078
2526
20,429
67 094
565,046
75369
624,122
70 507
594,842
70702
599,611
71 614
603,936
73 511
609,987
70 240
611,896
71 308
616,569
73 593
622,679
75369
624,122
75237
651,078
75988
657,457
75405
667,647
77623
667,325
74,221
673,101
71,824
674,682
524 423
846 807
287,232
585,340
918742
302,544
553,766
882 613
299,004
559,581
893 086
300,160
564,529
891 898
299,456
569 683
898 166
296,817
572,104
894 711
296,542
576 524
897 345
297,205
583 032
911 557
301,245
585,340
918742
302,544
609,532
930 811
305,191
615,019
942 133
310,049
625,488
948 923
311,341
626,052
948 203
314,405
631,781
963 908
317,944
634,527
963 995
314,094
12490
13,930
11,704
13,712
11,994
13,667
12,530
12,651
15271
13,930
12,455
13,480
15,134
14,102
15,608
16,998
23925
260,308
32,448
230,404
196,268
22685
299,180
28,608
251,795
200,900
22350
276,959
30,993
241,603
205,463
22717
280,873
30,759
244,865
203,455
22302
283,672
30,352
244,122
203,860
22479
288,289
30,036
246,878
203,630
22158
290,991
29,754
242,736
203,339
21 195
293,242
29,351
243,701
207,287
21 953
296,023
28,873
248,192
209,162
22685
299,180
28,608
251,795
200,900
21472
310,552
28,204
252,937
208,049
20728
312,665
28,099
257,112
206,933
19728
317,554
27,913
257,253
209,095
20090
321,923
27,790
249,893
205,873
21,390
325,623
27,580
255,763
209,879
21,699
330,032
26,996
254,176
212,395
122 902
111,858
73,366
128,626
114,255
72,274
132 752
117,084
72,711
130,311
113,455
73,144
130,854
113,340
73,006
130 814
113,982
72,816
130713
114,183
72,626
134 510
114,283
72,777
135 852
116,035
73,310
128 626
114,255
72,274
135 361
118,240
72,688
134,622
119,751
72,311
137 141
120,495
71,954
134,160
121,255
71,713
137,223
124,006
72,656
140,746
128,578
71,649
S-14
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
SURVEY OF CURRENT BUSINESS
Annual
....
July 1989
1989
1988
L)mts
1987
1988
May
June
July
Aug.
Sept.
Apr.
May
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
2,454.9 '2,460.9
372.2
370.3
185.3
187.7
1,896.8 1,903.4
June
2,476.9
375.3
184.7
1,917.0
FINANCE—Continued
BANKING-Continued
Commercial bank credit, seas, adj.: §
Total loans and securities 0
bil $
U.S. Government securities
do...
Other securities
do
Total loans and leases 0
do....
Money and interest rates:
Prime rate charged by banks on
short-term business loans
percent..
Discount rate (New York Federal
Reserve Bank) @@
do
Federal intermediate credit bank
loans
do
Home mortgage rates (conventional 1st
mortgages):
New home purchase (U.S. avg.)
percent..
Existing home purchase(U.S. avg.)
do....
Open market rates, New York City:
Bankers' acceptances, 90 days
do....
Commercial paper, 6-month $
do ....
Finance co. paper placed directly 6-mo
do
Yield on U.S. Gov. securities (taxable):
3-month bills (rate on new issue).. .percent..
2,237.4
335.5
195.2
1,706.8
2,371.4
350.9
196.7
1,823.8
2,373.5
353.2
195.4
1,825.0
2,392.6
356.0
196.6
1,839.9
2,400.6
358.5
195.3
1,846.8
2,408.0
362.4
192.9
1,852.7
2,412.8
361.8
188.0
1,863.0
2,441.8
363.4
188.5
1,889.9
9.29
9.84
10.00
10.00
10.05
10.50
10.50
10.93
11.50
11.50
11.50
11.07
6.00
6.00
6.37
6.50
6.50
6.50
6.50
6.50
6.59
7.00
7.00
7.00
7.00
2,325.5
346.4
196.4
1,782.7
2,343.5
348.8
196.7
1,797.9
9.32
8.84
9.00
5.66
6.20
6.00
8.54
2,358.5
349.3
196.9
1,812.3
(3)
8.22
2
8.94
2
2,408.0
362.4
192.9
1,852.7
8.94
8.83
9.01
8.59
8.90
8.90
8.98
8.80
8.98
8.68
9.00
8.90
8.98
8.77
9.11
9.05
9.16
9.04
9.31
9.20
9.31
9.46
9.44
9.63
9.62
9.88
9.76
9.82
10.13
10.09
10.27
6.75
6.85
7.56
7.68
7.12
7.31
7.38
7.53
7.77
7.90
8.19
8.36
8.06
8.23
8.15
8.24
8.55
8.55
8.96
8.97
8.93
9.02
9.27
9.35
9.83
9.97
9.68
9.78
9.35
9.29
8.97
8.80
6.37
7.14
6.75
7.01
7.19
7.57
7.71
7.80
7.94
8.24
8.44
8.65
9.17
9.29
8.97
8.22
5.820
6.690
6.270
6.500
6.730
7.020
7.230
7.340
7.680
8.090
8.290
8.480
8.830
8.700
8.400
8.220
mil. $..
618,191
671,362
626,876
634,511
637,992
647,753
651,759
653,059
659,193
671,362
684,674
682,274 '682,154 '687,034
691,393
do....
do
do
do
do
287,154
141,120
81,007
45,080
60,226
323,931
146,212
87,110
47,863
62,572
295,400
143,063
82,171
41,013
61,625
299,889
144,386
83,116
41,160
62,300
301,993
144,856
83,719
41,002
62,582
308,114
145,769
85,295
41,304
63,303
312,195
146,258
85,908
41,296
62,291
312,945
146,490
86,463
41,723
61,712
317,589
146,039
86,823
43,042
62,091
323,931
146,212
87,110
47,863
62,572
318,287
141,194
86,980
42,804
62,792
316,898 '314,743 '318,603
141,292 140,207 141,730
86,865 '87,346 '87,968
40,591
40,762
41,071
62,674 '62,007 '61,808
320,769
143,265
88,721
40,829
61,767
CONSUMER INSTALLMENT CREDIT t
Not seasonally adjusted
Total outstanding (end of period) #
By major holder:
Commercial banks
Finance companies .
Credit unions
Retailers
Savings institutions
Seasonally adjusted
Total outstanding (end of period) #
By major holder:
Commercial banks . . . .
.
Finance companies
.
Credit unions
Retailers
Savings institutions
By major credit type:
Automobile
Revolving
Mobile home
Total net change (during period) #
By major holder:
Commercial banks
Finance companies
Credit unions
Retailers ..
Savings institutions
By major credit type:
Automobile .
Revolving
Mobile home
do
632,431
637,836
639,207
644,666
646,556
649,132
654,413
659,507 '682,020
687,397 '691,162 '693,654
697,256
do
do
do
do
do
297,521
145,310
83,086
41,515
61,270
301,104
145,517
83,648
41,851
62,004
302,283
144,774
83,886
42,023
62,537
307,355
143,992
84,647
42,121
62,843
310,132
143,019
84,900
42,349
62,502
312,588
143,012
85,338
42,614
61,926
316,683
143,488
85,740
42,910
61,922
318,925
145,180
86,118
43,498
62,099
316,797
r
!41,795
87,093
40,986
62,867
318,423 '318,242 '320,458
143,419 143,070 144,378
87,813 '88,514 '89,072
41,301
41,300
41,052
63,109 '62,735 '61,919
323,078
145,523
89,735
41,323
61,429
do
do
do
do
276,458
162,105
26,249
3,846
278,058
164,408
26,174
5,405
277,659
165,343
26,213
1,371
279,585
167,125
26,277
5,459
279,243
168,273
26,185
1,890
278,902
170,131
26,033
2,576
279,926
173,030
26,005
5,281
281,174
174,792
25,744
5,094
286,382 '288,767 '288,850 '289,531
176,716 178,570 182,831 184,486
25,992 '24,168 '23,993
26,036
'2,492
'3,765
'5,377
'22,513
290,547
186,428
23,978
3,602
do
do
do
do
do
2,746
169
557
-102
491
3,583
207
562
336
734
1,179
-743
238
172
533
5,072
-782
761
98
306
2,777
-973
253
228
-341
2,456
—7
438
265
-576
4,095
476
402
296
-4
2,242
1,692
378
588
177
'-181
-349
'701
248
'-374
'2,216
1,308
'558
1
'-816
2,620
1,145
663
22
-490
do
do
do
1,169
1,474
31
1,600
2,303
-75
-399
935
39
1,926
1,782
64
-342
1,148
-92
-341
1,858
-152
1,024
2,899
-28
1,248
1,762
-261
'83
'2,385
'4,261
1,854
44 ' 1824
'681
1,655
'-175
1,016
, 1,942
-15
-2,128
- 3,385
975
-2,512
768
r
5,208
1,924
292
1,626
1,624
720
66
242
FEDERAL GOVERNMENT FINANCE
Budget receipts and outlays:
1
71,115 108,317
68,276 128,952
61,978
89,369
93,795
64,408
Receipts (net)
mil $
63,646
97,803
60,690
854,143 '908,953
69,479
59,711 99,205
1
96,581 100,528
88,381
89,850 104,055
86,563
Outlays (net)
do
93,542 105,237
90,655
87,630
83,608
90,071
1,003,804 rl 1,064,105 82,295
92,558
l
7,789
40,572 -25,466
2,806 -27,871 -35,779
Budget surplus or deficit ( — )
do . - 149,661 rl- 155,15: -22,583
10,173 -27,009 -29,134 -11,442
9,134 -22,918 -23,079
rl
25,466 -7,789
35,779 -40,572
27,871
11,442 -2,806
29,134
27,009
Budget financing, total
do.... '149,661
23,079 -10,173
22,918
22,583 -9,134
155,151
1
1,098
10,214
13,405 -1,291
17,190
Borrowing from the public
do .
7,359
11,910
31,636
10,285
14,706
151,717 rl'166,183
23,367
3,639
11,699
7,680
1
15,252 -8,887
22,374 -39,281
10,681
10 165
-468
16 724 -2,502
19,279
- 2,056 - 11,032
-288 -24,879
14,903 -20,883
Gross amount of debt outstanding
do... ' 2,355,206 '2,614,581 2,526,492 2,555,086 2,560,795 2,586,091 2,614,581 2,636,657 2,672,211 2,707,284 2,720,742 2,745,577 2,763,562 2,779,291 2,800,128 2,823,955
Held by the public
do... 1 1,897,761 '2,063,900 2,010,706 2,022,232 2,025,897 2,049,267 2,063,900 2,074,217 2,105,852 2,117,766 2,125,125 2,142,315 2,155,684 2,154,393 2,164,607 2,165,705
Budget receipts by source and outlays by
agency:
71,115 108,317
68,276 128,952
61,978
89,369
93,795
97,803
Receipts (net), total
mil. $. 1 854,143 '908,953
64,408
63,646
60,690
69,479
99,205
59,711
49,876
25,336
68,533
17,769
23,427
48,627
39,673
29,822
31,287
41,784
Individual income taxes (net)
do ... '392,557 '401,181
31,942
25,791
46,092
17,958
20,570
1,926
14,689
12,501
907
3,181
22,160
Corporation income taxes (net)
do ...
1,442
1,794
20,668
18,347
'83,926
1,461
1,499
'94,195
1,613
Social insurance taxes and contributions
35,349
39,496
31,276
30,268
(net)
mil $. '303,318 '334,335
32,086
31,652
24,698
28,694
23,848
26,915
27,967
25,075
28,373
33,396
6,594
8,504
6,234
7,739
5,559
Other
do
5,909
7,265
6,657
6,717
6,485
'74,342
8,069
7,703
6,800
6,745
'79,241
1
96,581 100,528
88,381
Outlays (net) total
do
89,850 104,055
86,563
87,630
93,542 105,237
90,655
83,608
90,071
1,003,804 rl 1,064,105 82,295
92,558
3,209
3,677
4,589
3,832
4,153
4,610
4,917
Agriculture Department
do
5,769
2,764
2221
2,300
2,552
'49,593
5,318
3,642
'44,003
24,327
20,590
28,379
28,918
22,546
19,281
Defense Department, military
do . . . '273,938 '281,940
28,201
25,189
21,036
23,764
23,856
23,905
24,589
20,273
Health and Human Services
31,650
38,818
34,363
35,553
32,227
31,487
Department
mil $
33,491
29,138
32,271
32,162
29,228
'351,315 '373,169
31,956
35,005
30,025
19,317
16,504
35,727
16,451
16,554
Treasury Department
do
15,555
34,643
13,838
13,045
14,901
30,071
' 180,345 '202,472
16,943
13,291
16,681
National
Aeronautics
and
809
998
966
1,043
530
709
822
884
998
805
'7,591
Space Adm
do
993
717
863
111
'9,092
3,587
2,805
1,246
3,758
2,278
3,091
'26,952
Veterans Affairs Department
do ...
1,182
3,531
1,854
2,261
2,355
2,130
1,432
2,705
'29,244
GOLD AND SILVER:
Gold:
Monetary stock, U.S. (end of
period) @
mil $
Price at New York tt
dol per troy oz
Silver:
Price at New York "j"ji
dol per troy oz
See footnotes at end of tables.
11,078
446.504
11,060
436.931
11,063
450.840
11,063
451.332
7.009
6.535
6.543
7.037
11,063
437.633
7.146
11,061
431.313
11,062
412.790
11,062
406.781
11,059
420.068
11,060
418.488
11,056
404.014
11,061
387.776
11,061
390.143
11,061
384.400
371.316
367.598
6.708
6.365
6.285
6.275
6.108
5.972
5.891
5.930
5.791
5.447
5.280
S-15
SURVEY OF CURRENT BUSINESS
July 1989
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS- 1986
Annual
IT .
umis
1987
1989
1988
1988
June
May
Aug.
July
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
FINANCE—Continued
MONETARY STATISTICS
Currency in circulation (end of period)
bil. $..
Money stock measures and components (averages
of daily figures): f
Measures (not seasonally adjusted):
Ml ..
bil $
M2 ...
do
M3
do
L (M3 plus other liquid assets)
do
Components (not seasonally adjusted):
Currency
do
Demand deposits
do....
Other checkable deposits :)::):
do....
Overnight RP's and Eurodollars 6
do....
General purpose and broker/dealer
money market funds .
do
Money market deposit accounts
do
Savings deposits
do
Small time deposits @
do
Large time deposits @
do
Measures (seasonally adjusted):
Ml
do
M2
do
M3
do
L (M3 plus other liquid assets).
do
Components (seasonally adjusted):
Currency
do....
Demand deposits
do...
Other checkable deposits
ft
do
Savings deposits
do
Small time deposits @
do....
Large time deposits @
do
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Bureau of the Census):
Net profit after taxes, all manufacturing
mil $.
Food and kindred products
do....
Textile mill products
do
Paper and allied products
do .
Chemicals and allied products
do....
Petroleum and coal products
do...
Stone, clay, and glass products
do...
Primary nonferrous metal
do...
Primary iron and steel
do....
Fabricated metal products
do....
Machinery (except electrical)
do...
Electrical and electronic equipment
do ...
Transportation equipment (except motor
vehicles and equipment)
mil. $..
Motor vehicles and equipment
do....
All other manufacturing industries
do...
Dividends paid (cash), all manufacturing
do
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total
mil $
By type of security:
Bonds and notes, corporate
do....
Common stock
do
Preferred stock
do
By type of issuer:
Corporate, total #
mil. $..
Manufacturing
do
Extractive
do
Public utility
do....
Transportation
do ...
Communication
do
Financial and real estate
do .
State and municipal issues (Bond Buyer): §
Long-term
do
Short-term
do ....
2302
2477
744 2
776 0
2 863 2 3 009 4
3'591 9 7-3 gjg 7
4 2 4 6 0 r4 532 3
2354
764 6
779 9
2 990 1 3 015 6
785 4 r3 816 7
4 492 1 r4 521 6
r
3
r
247 7
235 5
786 9
782 1
782 3
781 0
3 031 5 3 030 5 3 028 5 3 038 4
840 7 r3 852 1 r3 858 6 r3'874 9
4 557 1 r 4 578 4 r 4 586 8 r4'608 4
r
3
r
793 0
804 4
788 3
3 057 9 r 3 077 1 r3 076 0
902 3 3 924 0 r3 926 2
4 646 1 r 4 688 5 r 4 694 9
r
3
r
188 8
294.3
254.3
2053
289.0
274.4
203 6
283.1
270.8
2057
291.3
275.3
208 0
293.1
277.7
207 9
289.0
277.2
2080
287.4
277.8
209 0
288.7
276.9
211 3
290.0
279.9
2149
298.8
283.7
79.2
78.1
80.4
80.9
77.6
79.9
77.3
76.0
75.6
78.3
213 8
5522
408 1
8657
461 8
2322
517 5
426 4
979 2
512 5
228 9
5232
4323
970 5
504 8
231 8
520 5
427 7
965 1
500 5
771 1
2999 8
795 6
4 504 2
r
3
r
2308
5177
4337
9860
519 2
231 o
511 4
4309
9969
529 1
2064
2904
278 5
4297
981.0
514 0
2070
2899
2783
4309
988.3
5194
2086
2888
279 0
430 5
998.7
5267
2097
2889
2794
429 2
1,009.7
5320
790 3
7866
3 059 3 3 0694
897 2 r3 914 2
4'6384 r 4 674 9
r
3
r
2105
2877
281 0
431 8
1,017.8
5344
2118
2886
2823
431 3
1,025.2
537 7
775 1 r r791 4
072 1 3 092 9
944 8 r3 963 6
4 720 6 r 4 741 9
r
3
r
3
r
r
r
2560
4803
r
4184
1 0650
5602
r
r
767 2
3 0634
3 944 2
4,728.0
774 3
3 0927
3 9756
2166
2185
276.5
271.7
r
273.4
r
270.2
r
r
77.2
78.8
81.6
215 1
283.3
286.0
2139
275.8
278.3
211 9
275.7
277.6
247 2
2417
237 4
231 3
2394
4853
4952
5027
5067
507 5
4187
4228
4259
430 4
4309
1 010 6 1 019 5 1 026 5 1 041 6 1 0544
5524
545 2
5396
'537 3
5354
782 5
776 5
7837
7824
7854
3013 1 r 3 023 9 r 3029 7 r 30350 r 3 0422
816 4 3 839 1 r 3 851 1 3 860 5 3 877 2
4 521 1 r 4 565 1 4 583 6 r 4 591 7 r 4 612 5
2047
2898
2747
427 6
975.7
507 8
4'6876
211 8
290.5
283.7
r
r
3
r
2034
2881
272 2
4252
971.0
5024
1
229 6
5220
436 0
9794
509 5
772 3
r
3 056 7
r
3'916 1
r
73.9
2602
4713
414 1
10821
5641
72.6
2599
r
4570
r
4074
10992
5697
74.7
2662
4569
4069
1 1137
5698
r
7734
783 2
7863
7874
3 069 2 r3 078 7 r3 081 3 r 3 0728
r
r
928 1 r 3 950 0 r 3 958 1 3 954 4
4 678 3 4 690 6 4 724 1 4'740 2 47393
7707
30899
39750
216.4
2159
r
278.3
2815
r
271 4
278 5
r
404 9
4129
1,083.2 1,106.1
5720
5677
2174
2752
271 0
4023
1,119.9
5732
7863
r
3 065 7
r
39187
r
2134
2840
281 3
4278
1,035.7
5444
r
r
3
r
2143 - 2156
2843
2848
279 1
2809
4208
424 6
1,048.3 1,061.0
5588
551 6
154 902
20,671
1 560
8,081
23,748
21,409
2453
4256
993
5,335
13,817
11143
41 641
6,051
479
2,198
6,148
4,225
997
1 172
802
1794
3,071
3 050
38569
5,400
310
2,227
5,457
5,987
804
1 104
693
1332
3992
2932
37 632
4,751
377
1,911
5,659
6,147
556
1 116
515
642
3,632
2762
37885
3,668
387
1,979
6,882
5,240
8
1234
476
2,116
2,666
2396
4,677
10,647
5,019
12,474
1204
3,839
1566
2069
1022
3272
1,338
3,867
'20,234
23,943
6,611
6,082
5,270
5,644
'49 512
57 075
13 745
14 525
16 526
16 521
275 418
228 387
19 636
30 615
19282
15977
15728
12991
16436
10421
(2)
191,339
65835
11 735
172 499
45485
6 506
14 513
3 998
400
26114
3 700
501
11 767
6474
741
11 905
3 396
501
11 443
3795
291
9 355
2886
575
12891
3008
527
7 627
2088
475
(2)
268,909
46 172
8229
19943
6698
7 326
151 049
224 490
33 327
4742
12793
3078
4 031
147 030
18911
2286
221
1 535
365
78
13 608
30315
4045
928
1 946
631
906
19 579
18982
3 025
1 150
245
1 307
11 103
15802
2 510
642
647
72
3
10045
15 529
3 917
125
824
88
457
8923
12816
2388
30
1 683
258
132
7785
16 426
3 136
244
478
64
298
9 454
10221
1 066
1
185
0
59
8454
105 523
20,271
117 Oil
22602
8 746
1009
15 075
3391
11 206
1 372
7 591
5942
10 743
675
11 200
1 109
31 990
32740
33 070
32300
31 770
31 930
32770
33410
4750
15 640
5660
16595
4380
14 150
4 580
14 460
4 485
14340
4 655
14045
4725
14 175
61.4
61.4
61.4
62.5
542.87
642.88
115 599
15,627
'1891
1
5,520
1
16,559
1
10,900
'2911
1
1,077
1
1,356
1
4,427
1
10,203
'9570
1
1
1
o
i
(2)
(2)
(2)
(2)
(2)
(2)
(2)
(2)
(2)
r
r
11 496
1 419
r
l
r
rg 492
9 548
1 410
rg Qgg
1 308
4982
7r477
876
12 068
4222
33 640
32740
32530
31 480
32 130
32 610
33 140
34730
5065
14 880
4 920
15 185
5660
16 595
5790
15705
5605
16 195
5345
16045
5450
16 125
5250
15965
6 900
19 080
63.8
62.6
62.9
65.0
64.3
63.2
64.2
66.0
68.2
596.74
610.58
9 036
1 765
087
l 341
r
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at broker-dealers, end of year
or month
mil $
Free credit balances at brokers, end of year
or month:
Margin-account
do
Cash-account
do
Bonds
Prices:
Standard & Poor's Corporation, domestic
municipal (15 bonds)
dol. per $100 bond..
62.7
62.0
Sales:
New York Stock Exchange, exclusive of some
stopped sales, face value, total
mil. $.. 9,726.24 7,701.39
See footnotes at end of tables
60.4
675.06
r
703.57
581.89
640.57
632.13
558.88
591.39
553.49
734.37
878.24
S-16
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
Annual
,..,
July 1989
1989
1988
Units
1987
1988
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
FINANCE—Continued
Bonds — Continued
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa .
.
A
Baa
By group:
Industrials
Public utilities
Railroads .
Domestic municipal:
Bond Buyer (20 bonds)
Standard & Poor's Corp. (15
bonds)
.
U.S. Treasury bonds, taxable $
percent
991
10 18
1037
1036
1047
10 58
1028
9 90
9 91
1003
1005
1005
10 18
10 14
995
950
do
do
.do
do
938
9 68
999
10 58
971
994
10 24
1083
9 90
10 10
1041
11 04
986
10 13
1042
11 00
9 96
10 26
10 55
11 11
10 11
10 37
10 63
11 21
9 82
10 06
10 34
1090
9 51
971
999
10 41
9 45
972
999
10 48
9 57
981
10 11
10 65
9 62
9 81
10 10
1065
964
9 83
10 13
10 61
9 80
9 98
1026
10 67
9 79
9 94
10 20
10 61
9 57
975
1000
10 46
910
929
959
1003
do
do...
do
983
998
9 63
991
1045
1003
997
1075
1003
9 99
1071
10 04
9 98
10 96
10 06
1007
11 09
10 10
10 00
1056
10 12
9 88
992
1003
993
989
1000
1004
1002
1006
1008
10 02
10 04
1008
1002
1005
1019
10 16
10 19
1013
10.14
10 27
997
992
1031
9.51
9.49
1017
do
769
7 66
787
7 74
776
7 76
7 64
7 33
7 66
7 50
7 29
756
764
7 40
715
7.02
. do
do ....
7 73
8.64
774
8.98
801
9.24
7 86
9.04
7 87
9.20
7 86
7 71
9.06
7 54
8.89
7 58
7 66
9.13
7 41
9.07
7 47
7 61
9.33
7 49
9.18
7 25
8.95
697
8.40
Stocks
Prices:
Dow Jones averages (65 stocks) . . .
73931
849 46
772 17
Industrial (30 stocks)
2 275 99 2 060 82 1 988 91
Public utility (15 stocks)
16930
17974
20170
Transportation (20 stocks)
82024
86383
92919
Standard & Poor's Corporation: §
Combined index (500 Stocks)
1941-43=10..
256.12
265.79
286.83
Industrial, total (400 Stocks) #
do....
297.39
306.68
330.90
Capital goods
do
24632
25283
28823
Consumer goods
do
28671
30595
32377
t
Utilities (40 Stocks)
do....
11270
10311
10874
Transportation (20 Stocks)
1982=100...
197.57
228.91 . 209.02
Railroads
1941-43-10..
14823
16690
15873
Financial (40 Stocks)
1970-10..
2228
2409
2815
11203
Money center banks
1941-43 — 10..
84.24
9205
Major regional banks
do....
10322
9923
10954
Property-Casualty Insurance
do ....
256.05
271.62
311.50
N.Y. Stock Exchange common stock indexes:
Composite
12/31/65=50..
144.94
149.91
161.70
Industrial
do
176 02
18095
19531
Transportation
.
do
14039
127 63
134 12
Utility
.
. do
71 77
7430
68 65
Finance
do
12035
12726
14648
NASDAQ over-the-counter price indexes:
Composite
. .
.2/5/71 — 100
37443
40274
371 88
Industrial
. .
do
382 72
37949
42272
408 17
Insurance
do
39232
42525
Bank
do
441 27
444 14
464 95
NASDAQ/NMS composite
7/10/84=100..
172.49
160.65
161.95
Industrial
do .
148 02
16106
14678
Yields (Standard & Poor's Corp.):
Composite (500 stocks)
percent3.80
3.64
3.08
Industrials (400 stocks)
do....
2.62
3.26
3.14
Utilities (40 stocks)
do..
7 44
7 08
6 52
Transportation (20 stocks)
do
220
2 64
248
Financial (40 stocks)
do
3 60
470
4 34
Preferred stocks, 10 high-grade . .
do .
924
837
9 25
Sales:
Total on all registered exchanges (SEC):
Market value
mil $ 2 284 166 1 584 106 114 402
r
52474
Shares sold
millions
3 892
63771
On New York Stock Exchange:
Market value
mil $ 1 983 311 1 377 711 100 894
Shares sold (cleared or settled)
millions
3 297
44018
53038
New York Stock Exchange:
Exclusive of odd-lot stock sales
(sales effected)
millions
3232
40 850
47 801
NASDAQ over-the-counter:
Market value
mil. $
25292
347 089
498 301
Shares sold
.
millions
31 070
37 890
2468
Shares listed, NYSE, end of period:
Market value, all listed shares
bil $
221631 2 457 46 2 359 14
Number of shares listed
millions.
71,802
74,360
76,093
9.33
9.07
9.16
955.80
93247
89732
86699
880 52
78420
79620
78041 808 29
785 26
851 45
817 30
767 55
2 104 94 2 104 22 2 051 29 2 080 06 2 144 31 2 099 04 2 148 58 2 234 68 2 304 30 2 283 11 2 348 91 2 439 55 2,494.90
206.72
19629
187.98
18281
18664
18501
17985
17856
18002
18888
185 15
184 12
17871
91621
92312
87945
856 14
881 17
87311
95539 1 009 31 1 073 18 1 046 32 1,098.04 1 139 83 1,158.90
270.68
312.78
26521
305 51
10986
211.33
16044
2446
97.54
10794
274.56
269.05
310.87
26293
30222
10849
210.37
15772
2455
9737
10885
270.45
263.73
303.12
247 69
301 27
10789
203.10
15279
2500
9785
11097
270.64
267.97
307.40
247 60
313 68
10967
209.71
15859
2575
10218
11282
276.57
277.40
319.05
253 19
327 18
11300
219.89
16478
2605
9961
11178
280.22
271.02
311.84
247 36
32478
11170
216.97
16474
2485
98.23
10734
268.26
276.51
319.07
253 87
331 12
11302
225.63
17125
2479
98.74
10382
266.65
285.41
330.17
26280
33949
11437
237.65
178.57
25.51
99.73
104.72
274.49
294.01
339.70
273 90
353 53
11688
251.42
18776
2668
104.23
10991
288.70
292.71
337.74
26231
352 18
116.65
245.69
185.35
26.96
104.67
109.29
295.79
302.25
348.47
26571
36861
119.91
250.63
182.19
28.31
113.23
113.96
307.82
313.93
360.88
27471
38624
127.74
262.59
194.13
29.10
114.86
121.88
301.76
323.73
370.36
27947
39970
133.50
268.10
198.07
30.85
122.57
129.20
316.61
152.72
184 92
136 02
7225
129 04
152.12
184 09
13649
71 50
13000
149.25
17972
13253
70 67
13077
151.47
182 18
136 27
71 83
133 15
156.36
188 58
141 93
74 19
13466
152.67
183 79
13860
7383
129 61
155.35
18775
144 07
7481
12883
160.40
194 62
153 09
7587
13226
165.08
20000
16266
7784
137 19
164.60
19920
160 14
7766
13791
169.38
20481
16432
r
7972
143.26
175.30
21151
168 89
8407
146 59
180.76
216.75
173.47
87.90
154.09
38644
400 91
39809
45095
167.16
15529
391 40
40562
398 52
45696
169.21
156 97
379 6i
38538
412 14
457 12
164.06
148 94
382 16
38400
429 93
452 91
165.30
148 48
38501
38249
43245
45081
166.78
148 10
37289
36582
42682
440 91
161.60
14176
37578
371 11
425 34
43645
163.15
144 24
389 32
38571
441 91
44601
169.07
14998
404 08
399 80
46107
45887
175.62
15566
403 99
39674
46940
45758
175.67
15451
417 13
40976
48035
457.31
181.71
159.95
43599
431 81
48304
46050
190.19
168.95
44761
437.84
503.78
475.70
195.38
171.32
3.58
3.08
696
2 43
4 24
9 32
3.65
3.14
7 16
2 45
4 24
9 33
3.75
3.25
7 20
2 64
4 12
9 39
3.69
3.21
7 09
2 55
3 96
9 28
3.61
3.13
7 01
2 44
3 96
9 23
3.70
3.22
7 04
243
4 16
9 36
3.68
3.19
698
? 34
4 26
9 38
3.64
3.14
699
241
4 15
9 31
3.59
3.10
692
2 17
4 03
931
3.68
3.18
706
224
4 07
943
3.59
3.10
6.95
221
390
950
3.52
3.06
6.62
209
385
932
8.96
150 481
4857
134 368
4 521
128 481
4 465
116 768
4 014
138 281
4 247
120 360
3805
117 060
3 922
122 524
4049
143 957
4675
148 021
r
4,530
136,598
r
4,115
157,088
4,722
131 410
118 972
112 242
100 854
118 416
103 902
100 228
102 736
124 800
126,697
116,894
133,978
4 150
3 819
3759
3352
3528
3162
3222
3264
3,909
3,694
3,356
3,887
4307
3 338
3 327
3 060
3415
2823
2845
3532
3217
3503
3,238
3,749
3,967
33296
3 115
29054
2 614
29 585
2 601
26 524
2348
28 698
2522
25017
2287
25 761
2488
33475
2716
30227
2532
33452
2883
32,232
2666
40,870
3080
41,572
3,029
2 456 51 2 439 65 2 353 78 2 440 00 2 489 44 2 443 44 2 457 46 2 609 24 2 545 11 2 591 64 2 709 88 2 787 49 2 771.49
79,117
78,381
77,521 77,767
76,836
76,603
76,160
76,093
75,891
75,320
75,267
75,498
74,688
FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
Exports (mdse.), incl. reexports,
total @
..
Seasonally adjusted t •• • •
Western Europe *
European Economic Community *
Belgium and Luxembourg *
France
Federal Republic of Germany
Italy
Netherlands *
United Kingdom
Eastern Europe *
Union of Soviet Socialist Republics
See footnotes at end of tables.
mil $ 254 121 9 r322 426 4 r28 192 7 r26 802 5 r25 186 4 r26 539 0 r27 066 6 r28 544 1 r27 565 2 r28 98? 1 27 294 6 27 963 5 r 33 130 8 r31 367 2 31 293 7
r
do
27 446 9 r26 706 0 r26 612 9 r27 477 9 r27*578 1 r27 889 0 r27 538 0 r28 863 8 r28 980 1 r28 839 1 30 064 5 r30 759 1 30 472 5
do
69 717 7 87 994 9 76408 73192 64757 67062 7 216 1 7752 1 7 2446 83028 7 3307 76887 96064 86209 85890
do.... 60,575.0 75,926.0 6,506.7 6,328.6 5,630.5 5,740.2 6,332.2 6,795.6 6,301.4 7,068.6 6,417.6 6,801.2 8,223.3 7,372.8 7,322.3
do....
761.8
759.8
834.0
616.9
626.7
686.0
574.5
599.1
7,405.0
646.3
6,189.4
648.9
660.9
630.8
586.9
9877 1 015.4
do
8754
8232
79432 10 085 5
9278
8465 1,051 0
8987
8978
7593
7214
7823
9000
do.... 11,747.7 14 331.3 1,229 9 1,262 6 10286 10357 1,178 5 12843 11236 13055 11857 14151 1,529 2 1,373 1 1,555.3
628 5
do
5982
6800
574 5
578 1
5365
630 5
551 8
519 2
4748
591 7
6781 9
573 4
55297
6489
918.1
946.8
do....
848.4 1,123.2
9117 10245
897.9
8491
7141
7794
8255
8,216.7 10,094.5
8392
7626
do.... 14,113.9 18,403.5 1,605.8 1,618.3 1,360.9 1,457.5 1,507.8 1,698.6 1,511.5 1,642.9 1,406.3 1,602.3 2,137.9 1,848.7 1,629.0
do....
576.8
523.5
706.9
628.4
314.7
266.9
187.7
210.0
3,650.0
408.6
2,199.5
369.0
459.0
195.7
122.9
do, ,
14798
27676
313 1
1510
632
1275
1159
2150
2638
2756
3739
4619
6230
4598
4420
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
S-17
SURVEY OF CURRENT BUSINESS
July 1989
....
1989
1988
Annual
unils
1987
1988
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Mar.
Apr.
May
60860 64848
334 8
386 1
1 843 5 2052 1
368 2
3840
7 2488
3334
2 1752
2877
70066
3480
2058 8
2479
7,399.5
3049
20917
222.4
499 2
4942
3292 1
9989
29>5
507 5
8339
581 8
5890
41675
1 1864
3347
7956
919 0
4710
404 4
519 4
6020
36369 3 602.9
10090 1 158.2
290.5
3026
566 8
557 3
1 023 3 10049
Jan.
Feb.
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS-Continued
Exports (mdse.), incl. reexports — Continued
Western Hemisphere:
Canada <}
mil. $
59 814 3 70 861 9 6 5208 63734
Brazil . .
do
5107
4039 9
314 6
4 2892
Mexico
do
14*582 2 20 643 4 1 789 1 1 737 6
Venezuela
do
3530
350 6
3 5860
4 6108
Asia:
China * . . . .
do
4877
3222
5038 8
3497 3
Hong Kong *
do
3983 1
4829
448 1
56908
Japan
do
28 248 6 37 732 1 2932 1 3 4168
Republic of Korea *
do..
9253
8602
80987 11 289 5
Saudi Arabia *
do...
2597
3418
37992
33734
Singapore *
do
40527
4728
4626
57700
Taiwan *
do
7 4127 12 130 8 1 1929 1 0759
Africa:
Nigeria * .
do
29 3
266
295 1
3562
Republic of South Africa
do.
1423
1489
16903
12812
5494 g
Australia * .
do
559 3
544 1
69807
OPEC *
do
11 058 1 14 023 8 1 139 3 1 0530
Exports of U.S. merchandise, total @. . .. do
245 115 0 309 441 2 26 979 5 25 756 0
By commodity groups and principal
commodities:
Agricultural products, total
do... 28 636 2 37 015 2 29706 26758
Nonagricultural products, total
do.... 215 222 7 270 998 3 23 134 7 23 626 2
Food and live animals #
mil $
19 1788 26 414 7 2201 5 1 954 6
'3599
Beverages and tobacco
do
389 8
4 548 3
3 6667
Crude materials, inedible, exc.
fuels #
do
20 416 3 25 135 0 2021 9 2 1280
Mineral fuels, lubricants, etc. #
do....
728.6
7,713.1
753.3
8,185.8
Oils and fats, animal and vegetable
do
156 1
106 5
1 4537
9814
Chemicals
do
26 380 9 32 299 6 26457 28152
Manufactured goods classified chiefly
by material
mil. $.. 17,136.1 22,844.8 1,949.1 1,969.0
Miscellaneous manufactured
articles *
do
19 409 0 24 513 9 2051 8 2 123 3
Machinery and transport equipment,
total
mil. $.. 108,596 0 135 134 8 118147 113270
Machinery, total #
do.... 69,637 0 88,432 0 73309 73531
Transport equipment, total
do . . . . 38,959.0 46,702 8 4,483 8 39739
Motor vehicles and parts
do.... 20,878.8 25,178 0 2,345 2 2 133.7
4717 4
387 9
1 6453
4039
59052 6 1629
3343
3308
1 859 8 1 9356
469 4
4084
449 o
4862
6126
493 8
32287 3 267 2
911 1 1 1550
2759
2876
441 4
590 2
1 021 1 865 5
419 6
534 7
3 244 5
961 9
3775
4964
8983
6437 0
314 4
2 043 6
'41l'8
6 3287
3344
1 9552
409 5
4327
4026
4380
5237
3 206 1 3 1996
8643
9476
3147
336 5
5194
5054
8200
811 3
5 517 8
4080
1 9409
4725
3859
5563
3793
527 6
33837 2939 2
9325
1 183 0
3425
3354
5654
453 6
9400
7055
27 o
407
194
317
224
43 5
324
389
343
289
37 9
138.2
1575
1759
1390
1057
1344
1715
142 5
152 5
1649
1127
681 5
6169
689 2
5700
6088
551 9
8265
628 6
7888
584 9
6403
1 1350 1 157 6 1 343 0 1 2398 1 221 8 1 367 6 1 1645 1 154 0 1 124 5 1 103 8 1 101 4
r
24 161 5 25 547 4 26 132 2 27 548 9 26 839 8 27 614 8 26 320 5 26 881 7 31 688 5 30 224 8 30 132 5
26227 28764 31795 33020 33500 36243 33570 34697 40402 3421 1 3314.1
21 491 7 22 720 5 23 157 0 24 098 9 23 108 3 24 401 9 22 058 6 23 641 3 28 126 3 26 435 7 26 818 4
22956 23840 2 554 1 2487 8 23263 24328 2 240 0 2 413 1 29182 2497 1 25794
4330
361 9
3987
491 4
4347
417 0
3743
377 0
3436
4696
3839
1 9930
656.3
2 1545
653.8
2 5063
863.9
2083 6
678.2
2272 1
673.0
2621 4
783.0
22623
813.9
2 233 5
871.0
859
28054
1257
158 2
3 119 1 2622 6
1066
2534 3
1020
28297
996
2561 0
1150
28609
127 8
3 231 2
1057
3 328 0
105 1
3 406 5
1,981.4
2,180.6
1,938.5
1 928.3
2,237.0
1,7696
2,106.4
2,595.8
2,266.1
2,354.2
1 976 4 2 150 1 2 123 2
2 142 4
2 022 8
2 284 8 /2 172 2
2 423 3 2 965 9
2650 5
26723
1 8425
659.8
1 984 8 1 9223
711.4
727.2
121 8
26168
1,746.9
101122 11 136 8 11 275 4 12011 7 11 5134 12 468 9 10 102 1 11 231 6 13 788 9 12 839 1 12 533 6
69523 74302 75671 79236 74730 83814
31599 37066 37082 40880 4 0404 40875 2
1,463 2 1 8170 22751 2 148 1 22978 20848 1 7440 20492 22602 21433 2,124 2
VALUE OF IMPORTS
General imports, total @
do
406 241 0 r440 952 3 rr36 107 5 r38 540 8 r35 397 3 r37 545 4 rr36 303 6 r38 795 2 r38 389 3 r39 383 9 r 36 032 1 r 36 687 1 r 40 146 8 r38 185 1 41 074 2
Seasonally adjusted t
do
36 137 2 r37 303 8 r35 073 5 r37 622 7 36 750 4 r37 12l'l r38 087 3 r39 668 4 37 877 3 38*2203 39 549 0 r39 044 7 40*7098
Western Europe *
do
95 496 1 100 515 4 8465 1 8839 5 8 378 8 7 7334 7 749 5 8521 8 88623 9 5080 7 2842 8313 1 9 2097 8389 4 8667 3
European Economic Community *
do... 81 188 0 84 991 0 7 1463 7 540 1 7*017*1 6675 1 6 511 4 7 0385 7 4227 8051 9 6071 8 6*7725 7721 1 69353 72129
394 7
404 1
Belgium and Luxembourg *
do....
3941
41709
4517 5
4364
3793
3792
4344
392 5
*307 3
3637
3834
3605
258 9
France
do
10 730 2 12216 6 1 149 1 1 281 8 1 056 1 922 0
927 4 1 053 3 1 128 0 1 1620 1 0347
973 5 1 104 3
990 7
943 6
Federal Republic of Germany
do.... 27,069.3 26,502.8 2,158.8 2,212.5 2*,067'l 1,942.6 2,132.4 2,124'8 2,302.0 2,641.8 1,902.1 i*.958'3 2,334.5 2,091.6 2,086.1
Italy
do
979 8
11 039 6 11 6109
9253
826 1 1 1429
8937 1 033 1 1 0899 1 058 6 717 2
7632
978 1 1 023 9 1 032 5
4 587 i
Netherlands *
do
3709
3469
3963 6
439 3
3944
387 0
401 2
4127
*3998
3560
421 1
410 8
393 0
384 9
United Kingdom
do
17 341 3 18 041 7 1 5497 1 551 5 1 401 2 1 449 0 1 381 0 1 509 1 1 6387 1 747 6 1 2117 1 5202 1 5864 1 397 8 16816
Eastern Europe *
do...
229 8
1447
19226
1533
204 2
211 6
21576
1596
2257
1449
2033
177 5
1360
148 9
1889
Union of Soviet Socialist Republics
do
40 6
4247
644
5780
809
249
28 3
39 2
424
73 8
97 6
65 3
34 8
38 9
54 5
Western Hemisphere:
Canada
mil $
71 085 0 81 496 3 7 241 8 7 470 1 5 790 6 6 301 0 7 017 4 7 332 6 7 145 6 6 503 0 7 891 3 7 295 8 7 636 2 7 483 2 8 138 8
7134
743 9
Brazil
do
7*8654
*746 9
93238
627 1
7432
754 4
6747
731 2
672 7
934 0
740 4
779 8
857 0
Mexico
do ... 20 270 8 23 276 9 1 978 8 2 116 6 1 699 9 2 025 8 1 951 6 1 989 5 2 049 4 1 9329 1 977 9 2 141 5 2278 8 2377 0 25437
'375*7
Venezuela
do
55790
632 1
553 5
'549 1
5228 1
546 4
404 5
405 8
429 5
519 5
430 3
497 2
403 1
'437 7
Asia:
787 7
China * ... .
do
6 293 5
932 6
727 7
618 0
8 512 2
668 6
823 3
763 5
722 5
803 9
793 4
812 9
831 8
792 4
Hong Kong *
do
9 854 1 10 242 8
743 3
634 9
924 5 1 009 8 959 1
774 0
622 5
882 5
695 7
810 7
905 6
930 0
995 0
Japan
do
84 575 0 89 802 1 6785 6 7 537 6 7 405 5 7 736 0 7 073 4 8 417 2 8 186 7 8 456 0 6 472 6 7 942 1 8 390 8 7 5302 7 884 2
Republic of Korea *
do
16 986 9 20 189 1 1 611 9 1 6560 1 731 2 1*9467 1 854 0 1 695 0 1 664 6 1 945 6 1 613 0 1 4885 1 6133 1 553 6 1 661 2
'361*6
Saudi Arabia *
do
4 433 1 5 593 7
587 6
418 4
623 7
492 3
427 3
512 5
502 3
563 4
562 6
568 1
433 8
361 7
Singapore *
do ...
6201 0
79957
660 4
680 6
638 2
752 0
780 0
679 1
686 6
709 7
774 5
687 4
736 6
598 3
619 7
Taiwan *
do
24 621 8 24 803 7 20269 2 181 7 2 079 0 2 411 8 2 194 o 2 072 5 1 943 4 2 104 8 1 831 3 1 822 7 1 708 9 1 863 7 2 092 0
Africa:
Nigeria*
do
35734
301 9
387 8
341 2
3 2983
5234
279 4
4047
323 2
313 3
270 6
359 3
179 0
264 6
254 2
Republic of South Africa
do....
1,529.6
1,345.5
126.0
128.9
140.2
1290
132.7
1236
1369
1529
1210
1366
1455
1215
1230
244 7
Australia *
do .
3007 2
3 531 1 287 8
3458
248 1
3267
309 4
311 8
302 1
307 8
271 6
296 3
268 9
266 2
OPEC *
do
23 953 1 23 065 7 2072 1 20150 1 8958 2 132 2 1 861 4 1 838 4 1 664 2 1 987 8 2 233 9 1 997 6 2 216 4 2 458 0 2 900 6
By commodity groups and principal
commodities:
Petroleum and products * . .
mil $
42 285 4 38 854 2 3682 1 3 340 3 3 175 0 3 440 6 3 065 9 2 gig o 2 904 9 3 314 9 3 558 0 3 281 3 3 737 7 4 135 8 4 806 6
Nonpetroleum products *
do.... 363,615.2 402,086.1 32,771.3 35,106.0 32*,407!5 34,267.6 33,388.3 35,768.9 35*,370'o 35,414.1 32,339 2 34*.27s!9 36,174.3 34,088.0 36*.267'6
Food and live animals #
do .... 20,547.1 20,106.6 1,633.4 1,530.8 1,519.1 1,752.3 1,548.0 1,603.3 1,648.6 1,695.5 19240 17716 17924 1,689 4 1,810.5
321 1
Beverages and tobacco
do
4 1049
3222
3407
323 9
4 139 0
353 2
444 7
361 9
371 1
358 5
324 5
350 6
412 1
301 2
Crude materials, inedible, exc.
fuels #
do
11 525 7 13 397 5 1 150 3 1 165 6 1 070 1 1 186 8 1 110 8 1 170 7 1 142 5 1 076 1 1 325 0 1 207 1 1 405 7 1 283 5 1 373 7
Mineral fuels, lubricants, etc
do.... 44,219.5 41,087.8 3,864.6 3,490.5 3,338.8 3,608.0 3,203.6 3,057.0 3,101.3 3,582.5 3,816 0 3,567.3 4,024 4 4,392.2 5,104.1
Oils and fats, animal and vegetable
do
648
600
51 5
8490
568 1
624
81 8
984
38 3
69 0
622
447
83 6
94 5
89 2
Chemicals
do
16213 4 19 875 6 1 647 4 1 7166 1 5400 1 747 1 1 541 9 1 695 5 1 6300 1 669 5 1 819 6 1723 2 1 923 2 1 704 2 1 7380
Manufactured goods classified chiefly
by material
mil. $.. 53,356.3 61,636.0 5,257.5 5,388.3 5,138.8 5,344.9 5,116.6 5,354.6 5,445.4 4,826.9 5,275 5 5,078.4 5,294 4 5,130.3 5,365.2
Miscellaneous manufactured
articles*
do
65 183 1 70 465 3 5433 0 6 2709 63208 6773 0 6 147 9 6408 6 6 055 4 59194 5 409 0 5 616 5 5 675 0 5 375 6 6 081 4
Machinery
and
transport
equipment
do
177 808 7 197 053 3 16 107 3 17 391 0 15 211 4 157199 16 250 0 17 765 8 17 549 0 18 345 8 14 969 5 17 077 4 18 288 0 17 195 9 18 021 1
Machinery, total #
do.... 99,432.9 117,281.0 9,169.2 10,333.9 9,526.6 10,010.1 9,904.8 10,571.4 10,370 8 10,807.4
Transport equipment
do.... 78,375.8 79,772.4 6,938.1 7,057.1 5,684.8 5,709.8 6,345.2 7,1945 7 1783 7 538.4
Motor vehicles and parts
do.... 70,763.8 71,347.0 5,980.5 6,110.6 5,012.6 5,175.6 5,655.0 6,556 0 6,486 4 6751.5 2 54725 62184 65100 60319 61238
See footnotes at end of tables.
June
S-18
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
Annual
., .
July 1989
1989
1988
unils
1987
1988
July
June
May
Sept.
Aug.
Oct.
Nov.
Dec.
Feb.
Jan.
Apr.
Mar.
May
June
FOREIGN TRADE OF THE UNITED STATES-Continued
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value @
1977 = 100..
Quantity
do....
Value
do
158.6
127.0
201 4
169.6
149.8
254 l
General imports:
Unit value @
Quantity .
Value
164 6
169 2
278 5
172 9
175 1
1763
1703
3027
do
do
do
.
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight
thous met tons
324 125
Value .
.
mil $
99011
General imports:
427 913
Shipping weight
thous met tons
Value
mil. $.. 245,030
169.6
151.9
257 7
173.7
136.7
237 4
174.6
145.9
254 6
176.9
148.6
175.8
149.8
2629
2634
175.8
145.1
255 0
2804
174.0
144.6
251 7
172.5
155.7
268 5
175.5
181.5
3186
174.6
169.4
2957
175.6
169.9
298.4
1769
179 0
316 6
177 1
1654
293 0
1740
178 5
3105
1725
174 0
172 3
183 0
3152
174 4
1829
318 9
2967
177 5
174 2
309 3
1797
1828
3002
171 8
1854
318 6
176 2
168 4
3002
3287
181 5
1734
3148
3382
361 222
125775
31 835
10374
30 694
10396
28408
I0'l78
29 342
10422
31 565
11 497
29024
29230
10'690
34266
10 555
11 995
29 117
10 672
465 082
254,753
40 609
20,718
38 180
21,677
37,311
21,247
40851
22,468
38948
20,519
40 426
22,041
39 856
21,453
43 501
23,213
38 364
19,959
33 48
583
4 413
16030
12474
2017
269
15495
240
32 18
562
4099
2937
3603
3357
569
650
620
3834
4670
4373
169.6
153.1
2597
176.3
159.0
1823
1856
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers
Certificated route carriers:
Passenger-miles (revenue)
Passenger-load factor
Ton-miles (revenue) total
Operating revenues (quarterly) # §
Passenger revenues
Cargo revenues
Mail revenues
Operating expenses (quarterly) §
bil
percent
mil
mil $
do
do
do
do
Domestic operations:
Passenger-miles (revenue)
Cargo ton-miles
Mail ton-miles
Operating revenues (quarterly) §
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
International operations:
Passenger-miles (revenue) . . . .
bil
mil
do
mil $
do
do
bil
Mail ton-miles
Operating revenues (quarterly) §
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
Urban Transit Systems
Passengers carried total *
do
mil $
do
do
O eratln^ex^n es m
Net a'l v one t' s income
Ordinary income t
Traffic:
Revenue ton-miles, qtrly. (AAR)
Price index for railroad freight
61 9
59 8
4605
4295
30 50
407
103
3221
416
105
2522
2732
2585
2622
2485
2328
2845
417
106
12898
11 972
621
437
111
426
113
413
169
12744
12243
162
363
112
368
107
431
125
26.10
411
114
9 18
399
36
3293
3 046
127
1038
424
36
1080
403
36
860
423
35
812
473
39
667
457
46
726
423
61
•3 233
3 201
77
733
371
36
599
389
35
7.58
470
41
7.48
451
39
758
695
772
750
727
734
691
797
4780
32469
4340
329 31
4843
1367
1 50 052
1 47 562
1 027
27 69
394
105
rl
4.3 925
r/
66
66 6
16088
12850
1834
235
14865
600
93 99
3 921
4789
470
443
10 925 1 13 332
10 226 12361
1
rl
720
307
ig 867
750
100
18 398
415
106
12725
11 767
463
7 66
379
36
'8766
2905
100
18 668
J
1
7983
4 024
3456
435
740
753
100
4710
4998
100
4 964
100
'297
J
464
108
179
127
11
8
170
43
45
45
163 8
177 2
1847
179 6
1 27 979
'27 135
85
95
23 881 1 24 883
1 752 1 961
1 989 '2319
26 623
do
3545
3824
625
4 449
Class I Railroads *
Financial operations, quarterly (AAR),
excluding Amtrak:
Freight
33 82
603
4364
16985
13,579
1,885
220
15483
1 077
3535
mil
Motor Carriers
Carriers of property, large, class I, qtrly.:
Number of reporting carriers
Operating revenues total .
mil $
Net income, after extraordinary and prior
period charges and credits
mil $
Tonnage hauled (revenue), common and
contract carrier service
mil tons
Freight carried — volume indexes, class I and II
intercity truck tonnage (ATA):
Common carriers of general freight,
seas adj
. .
.
1967 — 100
43 00
709
5261
423 30
62 5
53 800
1
63 633
1
50 296
1
1 478
'972
'60 136
1 785
1313
n 45 658
3253
40 88
68 2
5058
404 47
623
50 469
rl
56 787
r
44 918
rl
6 434
924
n 54 339
r
465
r
bil..
12/84=100 ..
943.7
dollars.
% of total.
dollars .
% of total.
82.58
68
47.79
62
236
85.12
66
45.88
64
dollars
% of total.
3287
4062
r
250.9
105.2
104.9
1783
178 1
105.2
i.05.4
169.2
166.7
105.4
105.4
172.1
"173.8
6996
6265
508
r
'254.4
249.5
105.4
1776
1783
7 107
6 886
21
6281
490
715
6 984
6767
22
5879
691
740
r
996.2
104.8
100.1
178 5
178 6
7 009
6804
21
6649
225
347
25798
d°
d°
do
1727
249.2
105.9
105.9
105.8
105.4
ioe'.T
253.6
1061
106.4
416
5051
396
7,616
Travel
Lodging industry:
223
Hotels: Average room sale <}
Rooms occupied
Motor hotels: Average room sale {>
Rooms occupied
Economy hotels: Average room
sale A . .
...
Rooms occupied
Foreign travel:
U.S. citizens: Arrivals (quarterly)
Departures (quarterly)
Aliens: Arrivals (quarterly)
Departures (quarterly)
Passports issued
National parks recreation visits # #
See footnotes at end of tables.
thous .
do...
do...
do
do
do
65
64
' 17,005
1
16,425
11,639
1
10 239
4872
55782
276
265
259
218
222
84.97
82.70
76.58
80.49
83.65
70
44.48
64
70
45.58
71
68
51.56
75
72
46.61
74
66
43.01
64
258
89.71
72
44.25
66
53 52
66
50 19
74
5044
3618
78
3430
3342
1
12 211
4 061
55422
408
4677
2881
421
7 790
241
192
85.40
88.78
66
43.62
56
52
43.33
48
58
44.17
54
3332
3503
3531
53
3915
66
335
10359
339
9871
65
65
56
49
2
1,420
2
1,302
2
1,140
2
2
1,217
2
2
1,169
2
1,448
2
1,130
2
5,021
4,416
3951
263
6 277
1098
235
4737
252
224
91.84
68
48.15
66
5,286
80
4,340
4,529
3,337
17,583
1
17,209
13,804
222
88.54
1,174
2
943
2
900
233
2241
920
223
1 304
2
1,538
2
1,227
1,046
1042
283
1 516
2
8943
70
49.22
72
3932
65
2
1,166
1,118
2
913
2
801
323
1 440
424
r
375
2323
3092
S-19
SURVEY OF CURRENT BUSINESS
July 1989
Unless otherwise stated in footnotes
Anr ual
19 89
19 88
Units
methodologicaf notes"! re as shown in
BUSINESS STATISTICS: 1986
1987
1988
June
May
July
Sept.
Aug.
Oct.
Jan.
Dec.
Nov.
Apr.
Mar.
Feb.
June
May
TRAN SPORT ATION ANDC^OMMlJNICA1TON- Continiled
COMMUNICATION
Telephone carriers: <}
Operating revenues #
Station revenues
Tolls, message
Operating expenses (excluding taxes)
Net operating income (after taxes)
Access lines
mil $
do .
do
do....
do
mil ..
74657
31669
9 171
50,384
13 370
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
Production:
Aluminum sulfate, commercial (17% Al-sOs) t
thous. sh. tons ..
Chlorine gas (100% C12) $
do
Hydrochloric acid (100% HC1) $
do....
Phosphorus, elemental $
do
Sodium hydroxide (100% NaOH) $
do....
Sodium silicate, anhydrous $
do..
Sodium sulfate, anhydrous $
do....
Sodium tripolyphosphate
(100% Na5P3Oi0) $
do
Titanium dioxide (composite and
pure) $
do
Sulfur, native (Frasch) and recovered:
Production
thous met tons
Stocks (producers') end of period
do...
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous $
thous. sh. tons ..
Ammonium nitrate, original solution $
do
Ammonium sulfate $
do.
Nitric acid (100% HNO3) $
do....
Nitrogen solutions (100% N) %
do....
Phosphoric acid (100% P2O5) $
do....
Sulfuric acid (100% H2SO4) t
do
Superphosphate and other phosphatic
fertilizers (gross weight):
Production
thous. sh. tons ..
Stocks, end of period
do
Potash, sales (K2O)
do .
Imports:
Ammonium nitrate
thous. met. tons..
Ammonium sulfate
do
Potassium chloride
do .
Sodium nitrate
do ..
Industrial Gases t
Production:
Acetylene
Hydrogen (high and low purity)
Nitrogen (high and low purity)
Oxygen (high and low purity)
mil cu ft
do....
do....
do....
1,264
11,019
2,869
344
11,486
952
813
1,274
11,329
2,568
352
11,983
748
789
108
910
187
30
851
57
70
118
904
183
30
845
74
68
110
922
181
28
872
65
60
121
951
232
27
999
71
68
108
960
232
29
1,033
76
67
586
551
47
49
39
41
968
1,026
92
84
85
84
See footnotes at end of tables
89
946
222
26
997
88
64
109
955
238
31
1,028
68
68
r
97
972
221
29
1,023
74
66
103
949
231
31
1,008
70
67
47
45
49
46
49
46
49
86
91
93
92
87
96
92
98
966
221
29
1,022
66
65
105
(3)
233
30
36
51
88
78
r
'9,363
2,316
1
9,450
1,112
779
1,750
773
1,580
769
1,536
805
1,490
762
1,368
836
1,324
816
1,210
931
1,112
935
1,101
794
1,122
925
1,159
'902
1,252
909
1,310
16,095
16,937
1,513
1,395
1,443
1,388
1,289
1,346
1,400
1,520
1,529
1,342
1,494
1,471
1,504
6,547
2,189
7,225
2,385
10,685
39,235
7,186
2,337
7,887
3,119
11,729
42,775
635
210
690
281
972
3,590
560
172
623
227
902
3,376
574
188
631
246
958
3,510
565
190
630
251
971
3,549
515
188
570
240
945
3,441
587
213
627
272
1,004
3,673
621
207
654
278
961
3,675
658
210
708
304
1,066
3,922
687
201
726
263
1,007
3,790
612
188
660
243
936
3,496
675
199
715
258
1,045
3,821
673
207
'701
261
966
'3,659
684
206
714
269
965
3,643
15,674
704
6,204
16,858
879
5,703
1,277
780
536
1,223
690
392
1,339
726
280
1,436
728
467
1,378
570
347
1,588
602
438
1,515
749
447
1,604
879
548
1,592
860
579
1,400
989
344
1,640
970
401
1,640
913
731
1,594
874
637
279
259
6,613
93
267
337
6,796
131
19
22
534
17
17
8
345
9
17
- 29
303
6
16
14
512
15
14
24
462
15
16
13
543
5
16
40
586
(2)
44
32
558
8
MO
4
23
"710
ni
46
6
396
14
37
53
541
14
46
48
659
11
38
30
427
21
5,284
'4,948
149,217 143,819
675,843 719,371
402,644 448,695
339
13,215
60,681
38,863
324
12,724
57,286
36,002
354
12,389
62,210
37,856
r
378
11,738
60,754
38,156
r
467
11,077
58,901
36,676
r
488
11,022
60,566
37,603
'446
11,849
58,607
38,022
'484
11,209
61,382
39,353
'444
10,498
61,071
38,522
'425
10,955
57,539
36,668
'480
11,554
'63,163
'39,735
450
11,145
61,005
37,721
Organic Chemicals §
Production:
rl
Acetylsalicylic acid (aspirin) thous. met. tons....
10.4
'10.9
1
Ethyl acetate
do ..
97.1 1 1 123.5
1
Formaldehyde (37% HCHO)
do.... 2,600.5 3,052.6
Glycerin, refined, all grades
mil. lb..
276.4
281.7
Methanol, synthetic
thous. met. tons
'3,418.2 '3,330.2
Phthalic anhydride
do ....
469.6
517.7
ALCOHOL
Ethyl alcohol and spirits:
Production
Stocks, end of period
Denatured alcohol:
Production
Consumption (withdrawals)
For fuel use
Stocks, end of period
(3)
(3)
65
91
974
227
30
1,039
64
71
96
987
205
29
1,038
70
63
24.8
2.9
21.8
748.4
22.0
762.5
129.0
25.5
20.8
2.2
39 6
7567
21.9
818.5
133 6
24.8
26.0
2.0
32.5
786.3
19.4
950.4
132.4
r
5
24
34.0
764 7
24.9
5
752.1
5
130.0
5
5
27.7
20.9
mil. tax gal.
do....
730.3
43.4
776.9
39.7
69.8
34.7
61.2
31.3
65.9
40.5
62.8
38.6
61.2
28.4
69.7
35.9
69.7
36.3
67.8
39.7
82.2
45.0
69.8
48.1
68.9
46.2
mil. wine galdo....
do
do....
442.5
460.8
208.3
9.7
462.1
468.7
215.7
9.2
43.5
41.6
21.0
11.1
40.1
42.2
20.3
8.6
33.4
35.4
17.8
7.4
38.5
38.6
17.3
10.9
36.2
38.7
19.0
8.7
36.1
38.5
18.2
7.5
38.2
36.9
18.1
7.4
42.2
39.7
17.2
9.2
38.1
37.8
17.0
9.1
38.9
38.0
13.3
8.8
43.4
42.1
12.8
9.2
'24.0
27.2
::::::::::::::
S-20
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
Annual
I T ..
Units
1987
July 1989
1989
1988
1988
June
May
Aug.
July
Sept.
Oct.
Nov.
Dec.
Mar.
Feb.
Jan.
Apr.
May
CHEMICALS AND ALLIED PRODUCTS-Continued
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
thous met tons
Polyethylene and copolymers
do....
Polypropylene
do
Polystyrene and copolymers
do
Polyvinyl chloride and copolymers
do ....
PAINTS, VARNISH, AND LACQUER t
Total shipments
mil $
Architectural coatings
do
Product coatings (OEM)
do
Special purpose coatings
do....
2
7698
1
7,881.0
1
3 164 8
2
37570
1
3,782.0
10 058 4
42158
3858 8
1,983.8
2,066.3
773 2
2,006.0
840 6
2,156.1
764 8
4
3 1402
2,004.6
4
7573
4,065.3
976.8
1,054.2
1,058.5
4
1,093.2
rl
8,320.5
1
1
11 073 6
4384 1
4 457 2
2,232.3
1 034 0 1 067 0
457 6
421 0
392 2
395 8
217.1
217.2
937 5
401 4
334 2
202.0
1 0000
427 6
367 5
205.0
963 3
383 0
383 7
196.7
940 2
355 8
398 4
186.0
850 2
301 4
378 2
170.7
779 4
2820
3452
152.2
851 3
3103
378 0
163.0
8736
3185
394 2
160.9
209 394
190 928
18466
232 550
212 637
19 913
231 343
211 378
19 965
219 066
200 447
18620
9853 1 0184
4002
3884
405 1
408 8
r
191.8
209.4
1 106.2
465.7
419 1
221.4
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production:
Electric utilities total
mil kw -hr
2 572 127 2 701 624
By fuels
do
2 322 432 2 478 686
By waterpower . ..
do
249 695
222 938
Sales to ultimate customers, total (Edison
Electric Institute) 0
mil. kw.-hr.. 2,431,192 2,545 621
Commercial §
do
656 708
695 139
Industrial §
....
do
842 680
877 752
Railways and railroads
do
4878
5098
Residential or domestic
do
883 210
845 069
Street and highway lighting
do . .
14,542
14,744
Other public authorities
do....
62,819
65,491
Interdepartmental
do ....
4,495
4,187
Revenue from sales to ultimate customers
(Edison Electric Institute) 0
mil $
155 523
162 268
GASO
Total utility gas, quarterly
(American Gas Association):
Customers, end of period, total @
Residential
Commercial
Industrial @
Other
Sales to customers, total
Residential
Commercial
Industrial .
Electric generation .
Other
Revenue from sales to customers, total
Residential
. . .
Commercial
Industrial
Electric generation
Other
thous..
do
do
do
do
tril Btu
do .
do
do
do
do
mil $ .
do
do
do
do
do ...
208 180
186 942
21 238
232 507
213 674
18 833
257 235
240 331
16904
267 408
250 961
16447
220 023
203 753
16270
210 377
195 265
15 112
226 436
203 794
22642
591,912
165 289
218 376
1 183
187 087
3,469
15,526
982
45,492
23 622
10 271
7500
3569
530
1
46 362
158
10 783
'6739
J
3141
J
541
648,311
169 383
217 772
1358
238,476
3,758
16,573
990
47539
38,564
40,087
52,431
48139
4058
179
54
1 961
791
398
480
264
28
53,096
48756
4 108
179
54
1
10 691
'4747
'2306
'2251
;
1 229
158
613,302
167 135
220 144
1299
203 249
3,930
16,352
1,194
37353
51,802
47579
3 990
179
54
10543
4,385
2 156
2 541
1 306
155
705,136
197 196
228 555
1274
256 101
3,570
17,327
1,113
52,093
47871
3992
177
53
1628
373
260
471
502
22
53,096
48,756
4 108
179
54
2855
1353
639
581
235
47
12858
7 278
3 014
1 793
608
166
6307
2489
1 185
1 284
1 291
58
8353
4 390
1 857
1 362
645
97
1
25
1
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
mil bbl
Taxable withdrawals
do
Stocks, end of period
do
Distilled spirits (total):
19542
177 85
12 94
197 69
178 05
13 23
1831
1648
15 25
18 58
1704
1495
18 17
16 41
1488
17 72
1622
1432
1545
14 12
13 68
1561
1409
14 15
14 02
13 21
1347
1332
1223
13 23
1588
1409
1338
1529
13 20
1384
17.57
1541
1424
17.30
1488
1499
76 51
94 37
9 16
7 10
5 70
5 14
9 82
12 96
9 75
8 13
9 17
9 41
11 42
388 22
45500
404 60
378 08
420 92
36320
30 16
39506
2870
32 77
440 21
2580
28 09
43539
24 50
29 44
431 54
29 50
30 08
427 33
33 50
31 28
42638
44 50
38 64
42398
42 10
4488
42092
26 50
2503
389 37
3
24 14
26 51
423 94
2823
2988
427 12
3889
2666
49.88
3833
39372
268 50
47 91
364 56
231 90
4 68
334 27
1840
345
379 87
1620
3 00
377 28
1400
282
37378
19 20
561
391
36990 • 367 40
3080
21 20
604
364 88
27 60
556
364 56
16 50
621
333 10
31561
675
367 47
17 15
913
371 45
1445
1580
1935
2789
3004
1499
52 50
3072
2924
1865
49 30
44283
45180
60297
31200
47073
44498
58677
257 40
488
4165
47022
21 50
3 50
4722
45447
21 50
14590
131 76
350
294
Consumption, apparent, for beverage
Stocks end of period
mil tax gal
Imports
mil proof liters
Whisky:
Production
mil tax gal
Stocks end of period
do
Imports
mil proof liters
Wines and distilling materials:
Effervescent wines:
Production
mil wine gal
Taxable withdrawals
do
Stocks, end of period
do .
Imports
mil liters
Still wines:
Production
mil wine gal .
Taxable withdrawals
do .
Stocks, end of period
do ..
Imports
mil liters
Distilling materials produced at
wineries
mil. wine gal .
See footnotes at end of tables.
1 36
191
1757
3 30
345
196
1767
3 00
266
175
19 00
4 10
304
348
1827
4 00
3 65
387
17 95
7 50
3 02
469
1548
8 00
262
3 54
18 65
490
277
1 21
1653
3
1 91
2 02
125
1728
2 10
214
133
1832
274
2 38
3 27
672
3898
38752
20 90
26 50
3640
37193
20 20
192 53
3309
56932
19 80
117 01
3246
54827
27 00
5330
3433
58732
26 50
4503
3435
58677
19 60
1034
2975
57930
3
14 98
563
2940
54493
13 55
412
3246
53843
21 02
1988
21 48
196
1009
4053
3288
895
7 01
401
323
495
271
1 70
1845
3 30
June
S-21
SURVEY OF CURRENT BUSINESS
July 1989
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
r r .,
units
1987
1989
1988
Annual
1988
May
June
July
Sept.
Aug.
Oct.
Nov.
Feb.
Jan.
Dec.
Apr.
Mar.
May
June
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS
Butter:
Production (factory)
mil Ib
Stocks, cold storage, end of period
do....
Producer Price Index
1982=100 ..
Cheese:
Production (factory), total
mil. Ib..
American, whole milk
do....
Stocks, cold storage, end of period
do....
American, whole milk
do
Imports
thous. met. tons .
Price, wholesale, cheddar, single daisies
(Chicago)
$ per Ib
Condensed and evaporated milk:
Production, case goods
mil. Ib..
Stocks, manufacturers', case goods, end of
period
do
Exports
thous. met. tons..
Fluid milk:
Production on farms t
mil. Ib..
Utilization in manufactured dairy
products
do .
Price, wholesale, U.S. average
$ per 100 Ib ..
Dry milk:
Production:
Dry whole milk
mil Ib
Nonfat dry milk (human food)
do
5,344 2
2,716 7
457.1
3674
1202
Rye:
Production (crop estimate)
mil. met. tons..
Producer Price Index, No. 2,
Minneapolis
1982 — 100
Wheat:
Production (crop estimate), total
mil. met. tons ..
Spring wheat
do....
Winter wheat
do ....
Distribution quarterly @
do
Stocks (domestic) end of period, total
On farms
Off farms
Exports, total, including flour
Wheat only
See footnotes at end of tables.
do
^do
do .
do....
mil bu
1357
341.9
88.5
83 3
923
956
253.4
237.3
226.2
92.6
92.6
92.2
92.1
4767
4420
208.8
460.8
4700
2209
400.7
4589
2412
4549
2325
4519
2531
460.1
388.1
2834
114 6
74 1
294.4
92.1
293 2
106
260 8
126
388.1
2834
122
395.3
2838
3667
76
480.9
381 9
91
496.1
3884
108
2085
351 1
110
421.3
314 8
88
2145
366.7
1120
214.7
92.1
246.6
4865
235.0
456.6
225.6
89.1
n
1247
122 5
379.1
438.3
463.6
88.5
88.5
88.5
472.6
236.2
494.9
247.0
405.1
2881
423.1
307.3
8.2
488.4
74
419.5
208.7
402.3
2909
69
763
295.8
91.4
4882
55716
27566
908
293.4
88.8
231.9
394.7
2838
87
r
r
r
8.0
431.9
312.1
(9)
490
47.7
47.0
852
19
905
31
1026
1.2
10,860
10,770
11,095
6,878
7866
7,654
8,075
13.10
12.70
12.30
12.20
5797
5887
550
574
502
495
490
428
422
456
445
41.5
31 8
24
44 i
35
85 1
4
943
3
1035
3
1053
2
923
6
894
1
51 5
10
44 1
1
594
" 2
751
25
121,294
123,896
11,064
10,562
10,514
10,282
9,967
10,125
9,790
10,251
10,476
'9,839
r
r
7762
7,598
7067
6890
6678
6633
6425
6948
11.40
11.30
11.40
11.80
12.40
13.00
13.40
13.50
7189
13.40
84720
12.53
85 072
12.22
r
1 0568
1723
978 5
17 2
106 6
14 1
1043
158
80 1
140
68 1
147
59 2
142
568
129
543
142
758
153
87 1
13 9
856
13 5
957
143
998
80
651
128
451
93
741
106
677
114
713
11 4
533
112
444
106
499
10 8
391
128
451
129
604
109
798
101
846
117
97.9
153 1
134
182
148
158
160
120
133
146
"60
80
162
179
175
.793
.773
.735
.740
.753
.770
.807
.826
.841
.849
.853
.816
.828
.834
3328
274 1
2502
2667
289 2
273 4
246 6
2954
"12.10
101
98.4
1759
10,511
14 1
998
1459
Stocks, manufacturers', end of period:
Dry whole milk
. do .
Nonfat dry milk (human food)
do ..
Exports, whole and nonfat
(human food)
thous. met. tons ..
Price, manufacturers' average selling, nonfat
dry milk (human food)
$ per Ib..
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye,
wheat)
.
mil bu
Barley:
Production (crop estimate)
mil. met. tons..
Stocks (domestic), end of period, total
do....
On farms
do....
Off farms
do ....
Exports, including malt §
thous. met. tonsProducer Price Index, No. 2 feed,
Minneapolis
1982-100 ..
Corn:
Production (crop estimate, grain
only)
mil. met. tons .
Stocks (domestic), end of period, total
do....
On farms
do....
Off farms
do....
Exports, including meal and flour
do ....
Producer Price Index, No. 2, Chicago
.
1982—100
Oats:
Production (crop estimate)
mil. met. tons .
Stocks (domestic), end of period,
total
do....
On farms
do
Off farms
do ....
Exports, including oatmeal
metric tons
Producer Price Index, No. 2, Minneapolis
1982-100..
Rice:
Production (crop estimate)
mil. met. tons..
Southern States mills (Ark., La., Tenn., Tex.):
Receipts, rough, from producers
mil. Ib..
Shipments from mills, milled
rice
do
Stocks, domestic, rough and cleaned (cleaned
basis), end of period
mil Ib
Exports
thous. met. tons ..
Producer Price Index, medium grain,
milled
1982—100
1247
314.4
88.6
129 0
1080
280.5
1 104 1 1 207 5
143.2
214.7
8
95.3
90.8
29204
2
11 529
7307
4.222
6
3.085
3,114.5
6
6
'°85.7
2
179 44
7
248 20
7
154.95
7
93.25
34483
2
6 325
r7
8 109
7
3980
r7
8
67 7
5 429
6
1.926
6
1499
6
427
30213
269.4
255.8
54.1
192.2
48.5
68.4
336.1
"6.4
125.4
122.8
104.5
138.7
120.2
117.5
110.2
114.9
1
148 23
3
82 33
3
108 19
r13
17963
10872
r
7090
'5087
J
5731
6.9
118.6
47.9
130.1
132.2
130.6
86.85
51.36
35.49
3
3
3.38
3.11
3.86
3.90
4.42
3.79
4.38
"4.46
3.94
5.17
4.51
5.38
81 3
97 1
1024
115 5
113 4
112 8
114 4
1042
1064
1130
1087
111 6
106 9
111 1
3 175
B
6
6
1
r6
116
510
29989
8
5 879
2
135.4
103 1
"5.626
6
1
r6
1.626
106.6
3
132.19
76.74
55.45
13
775
65 90
4.56
6
92.5
Y0
2
r2
3
308.6
285
1.842
4
2.443
223.8
"6113
"2687
r23
3426
8109
3980
r
4129
"9.682
4
4
4
r
r
9813
5.209
r5
4.604
r5
102.4
110.4
70.90
46.32
(12)
4 204
4
2.789
108.4
8
2
125 01
7
179 63
7
108.72
rl
5
*6994
4
4.129
2,244.4
40.81
2
r
.841
"3 212
2676
14 769
4402
1.427
870
.557
6 436
155.3
133.4
131.8
118.1
117.0
1626
6
6
116
510
4 261
5443
1 818
3439
2057
1 119
2420
116.0
162.5
159.8
165.6
163.8
156.1
143.2
994
142.6
104.9
7 235
1,037
631
9,533
8,985
258
277
163
457
2,567
2,063
640
614
784
957
997
7791
6722
525
465
428
476
700
677
633
775
609
656
855
705
749
2 689
2,380
2011
2,199
1 826
220
1 577
126
1 283
169
1 108
114
1 870
163
2 529
235
2397
2011
274
2059
2056
238
"231
212
1 884
308
1 915
206
1 618
345
1126
120 6
117 5
1149
114 6
111 9
106 7
104 4
103 9
103 9
'103 9
1040
1059
109 0
1102
53 5
938
82 1
784
81 3
71 8
77 9
828
79 1
79 1
762
79 1
777
557
83 3
8
2
.500
2
54 7
S
2
57 37
2
14 75
2
42 59
r
6270
7
68 06
7
2629
7
4177
3179
1 1067
.380
?
69 1
" 57 62
"1784
"39.79
4929
r2
681
2
42 48
rl3
ll 39
7
46 54
7
1671
7
2983
41.33
1 469 2
18 13
31
29
20 03
403
146 1
4
34
4
14
4
r
3.49
121 5
3.15
1100
2251
6133
21 72
3961
3.05
1065
344
124 8
263
91 2
14 97
46 54
1671
29 83
256
907
1343
33 25
"1244
r
"2081
3.59
"323
291
998
(12)
17 12
18 88
770
4
11 17
2.66
4
rI3
4
3.99
3.28
S-22
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
|T .,
unus
1988
1987
July 1989
1989
1988
Annual
June
May
Nov.
Oct.
Sept.
Aug.
July
Jan.
Dec.
June
May
Apr.
Mar.
Feb.
FOOD AND KINDRED PRODUCTS; TOBACCO-Continued
GRAIN AND GRAIN PRODUCTS-Continued
Wheat— Continued
Producer Price Indexes:
Hard red winter, No. 1, ord. protein (K.C.)
2
1982=100..
90.8
70.6
Hard red spring, No. 1, ord. protein (Minn.)
2
93.1
68.8
1982=100..
Wheat flour:
Production:
Flour
thous. sacks (100 lb.).. 338,484 339,453
Millfeed
thous sh tons
6 130
6 135
760 459 759 833
Stocks held by mills, end of period
5 137
thous sacks (100 lb )
5858
Exports
thous met tons 1 196 00 960 80
102.0
89.7
Producer Price Index
6/83 — 100 ..
76.8
93.6
93.9
81.6
104.0
97.9
101.7
105.3
103.6
105.2
110.1
108.0
114.6
108.3
115.0
111.2
102.6
104.0
106.2
102.7
103.3
111.5
108.9
113.4
109.4
114.6
107.5
28,538
516
63338
26,600
477
59242
26,457
478
58,851
26,676
481
59,116
28,071
502
63,138
6
81.70
110.7
129.32
110.0
4,734
134.88
112.0
128.48
109.6
103.44
111.8
1,694
1,574
1,830
1,653
1,940
93.3
28,944
515
64858
28,173
500
62961
28,251
502
63002
31,167
556
69 182
29,133
530
65226
31,058
552
69 172
30,853
561
68 846
27,916
552
62209
3770
93.9
5205
13340
107.0
11290
107.0
10820
107.7
5640
3130
110.0
10940
110.5
6560
109.0
5137
13570
109.1
1,847
1,792
1,750
r
r
112.4
POULTRY AND EGGS
Poultry:
Slaughter
mil lb
Stocks, cold storage (frozen), end of period,
total
..mil lb
Turkeys
do ..
Price, in Georgia producing area,
live broilers
$ per lb..
Eggs:
Stocks, cold storage, end of period:
Shell
thous. cases § ..
Frozen
mil lb
Price, wholesale, large (delivered; Chicago)
$ per doz..
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
thous animals
Cattle
do
Prices, wholesale:
Beef steers (Omaha)
$ per 100 lb ..
Steers, stocker and feeder
(Kansas City)
. . .
do
Calves, vealers (So St. Paul)
dollars $
Hogs:
Slaughter (federally inspected) thous. animals ..
Prices:
Wholesale, average, all weights (Sioux City)
$ per 100 lb ..
Hog-corn price ratio (bu. of corn equal in
value to 100 lb live hog)
Sheep and lambs:
Slaughter (federally inspected) thous. animals ..
Price, wholesale, lambs, average (Omaha)
$per 100 lb..
MEATS
Total meats (excluding lard):
Production
Stocks, cold storage, end of period
Exports (meats and meat preparations)
mil lb
do....
1759
1831
1600
1,672
1,607
451
250
631
410
668
457
712
496
735
552
761
573
781
583
510
304
451
250
462
263
455
263
458
269
'488
299
552
356
655
453
.410
.265
.315
.320
.355
.400
.420
.390
.335
.330
.335
.340
.330
.330
.375
.440
193 2
193 0
16 2
15 5
159
160
15 5
16 2
158
162
159
14 4
160
154
15.8
43
17
9
20
21
20
30
25
28
23
25
25
23
22
24
20
26
18
9
20
12
20
7
19
16
15
18
15
26
16
28
15
.579
.583
.471
.528
.698
.654
.714
.631
.622
.661
.678
.666
.910
.716
.698
.720
2679
34468
2411
34048
171
2830
204
2,983
207
2,898
227
3,120
207
2,927
197
2,871
202
2,698
203
2,685
196
2,711
175
2,500
194
2,744
152
2,576
157
2,947
161
2,951
64.60
69.58
75.15
70.58
65.96
67.08
67.71
69.13
70.07
71.21
72.35
72.92
75.81
75.31
74.52
71.71
7132
7892
8050
4
227 67
7899
9766
7077
10088
74.14
77.50
79.45
87.50
79.89
4
202.44
82.99
213.75
81.31
230.88
80.99
225.63
82.02
230.25
82.91
225.06
80.98
257.50
78.58
266.25
78.25
260.05
79.08
258.44
78,913
85,516
6,713
6,715
6,199
7,101
7,534
7,887
7,908
7,703
7,116
6,619
7,569
7,199
7,277
6,881
47.11
43.25
47.75
48.26
45.60
45.98
41.28
38.92
36.52
40.58
41.64
41.11
39.88
37.22
42.40
46.24
336
199
239
195
16.2
169
15.7
15.0
14.4
15.7
15.7
15.7
15.2
14.4
16.1
18.0
5,042
5,122
414
413
387
442
452
437
447
418
415
505
393
435
423
75.77
60.71
75.17
58.80
57.55
54.90
58.35
60.44
61.90
64.75
66.25
66.83
69.50
74.50
73.75
68.56
38442
623
39763
716
3206
721
3318
671
3171
671
3507
634
3,462
644
3,511
664
3,399
701
3,358
716
3,265
745
3,003
762
3,326
749
3,130
r
767
3,396
735
3,342
686
110
418
mil lb
of period
do....
thous. met. tons
do
fresh steer carcasses,
6
84
91
108
105
114
86
96
91
98
1,904
323
40
34
1,928
322
6
36
e
72
1,772
321
37
50
1,920
305
49
56
1,784
'280
45
53
2,027
251
47
60
2,051
246
1047
1062
1.073
1.080
1.124
1.138
1.126
1.064
915
1 081
87
90
93
105
99
102
103
105
1 263
104
125
99
114
91
88
89
74
1 948
280
33
61
2059
253
34
81
2013
274
37
58
2 197
298
45
72
2074
311
44
53
2041
300
45
48
1,909
305
46
50
1 117
1 064
1 010
1032
1 044
23 821
293
394
725
23 811
323
443
753
6
$ per lb
972
1 031
mil lb
do
310
8
329
6
27
8
27
24
28
28
28
6
27
6
29
27
27
6
33
26
r
6
28
of period
26
7
of period
do..
do...
14 312
285
70
461
15,623
358
147
439
1231
389
12
37
1,233
363
17
39
1,133
337
15
36
1,282
287
17
37
1,360
288
12
33
1,443
321
15
34
1,463
361
15
32
1,425
358
14
34
1,310
381
6
ll
6
36
1,204
397
10
31
1,373
394
11
34
1,321
r
438
12
33
1,341
431
13
33
1,266
385
S
T o t
(\*S
Prices:
Producer Price Index, Hams, smoked
1982 100
Fresh loins, 8-14 lb. average,
wholesale ( N Y )
$ per lb
From 'Brazil
U S Import Price Index t
Fish:
Stocks, cold storage, end of period
See footnotes at end of tables
971
104 2
2
962
91 8
92 0
91 4
924
94 5
984
99 1
100 2
(5)
1 265
1 188
1 298
1 315
1 259
1 277
1 215
1 071
996
1 132
(5)
262 6
2367
149
21 3
146
198
89
87
137
310
1 194 360 92004
do
235 680 25278
91 0
1985—100
81 6
68460
13 980
49920
15000
922
97 260
30720
74280
26280
887
76320
38520
71700
12180
61620
14 400
90
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans, imports
(including shells)
thous met tons
Coffee:
20520
501
282
1 250
Imports (meats and meat prepBeef and veal:
Production total
Stocks, cold storage, end
Exports
Imports
Price, wholesale, beef,
choice (600-700 Ibs.)
(Central U S )
Lamb and mutton:
Production total
Stocks cold storage end
Pork (excluding lard):
Production, total
Stocks, cold storage, end
19886
mil. lb
r
41
r
39
r
350
r
37
9258
22 50
r
36
r
396
-397
r
407
'393
r
394
6
44.2
240
30.4
28.9
24.6
6
98 070
6
24 616
77714
20282
82072
24413
895
83874
31 128
77223
12,053
392
353
330
330
357
86.5
"375
S-23
SURVEY OF CURRENT BUSINESS
July 1989
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
,, .
units
1987
1989
1988
Annual
1988
May
June
July
Aug.
Sept.
Oct.
Nov.
Jan.
Feb.
Mar.
Apr.
May
24,230
5
104
36,168
112
27,170
152
27,337
84
111.0
1158
5
6 610
111.9
1158
5966
112.3
116 1
8290
25,916
14 603
25,393
11507
3825
22,177
12411
19,356
19,382
June
22,806
126
14,701
16,202
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO—Cont.
MISCELLANEOUS FOOD PRODUCTS— Cont.
Exports, raw and refined
Imports raw and refined
Producer Price Indexes:
Raw (cane)
Refined
Tea, imports
metric tonsthous met tons
1982=100..
do
metric tons
TOBACCO
Leaf:
Production (crop estimate)
mil Ib
Stocks, dealers' and manufacturers',
end of period
do
Exports, incl. scrap and stems
metric tonsImports, incl. scrap and stems .
do
Manufactured products:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
millions.
Taxable
do....
Cigars (large), taxable .
do
Exports, cigarettes
do ....
560,592 877,365
1 213
1 157
110.3
1064
77 390
'1 191
4
111.9
108 9
90 143
4
7
8,957
96
41,624
62
35,989
112
28,278
144
23,016
99
38,223
164
16,816
90
615,552
134
111.8
1066
8435
112.7
106 9
8793
118.0
108 2
7 987
111.8
1100
7 873
111.6
1099
5860
110.7
1123
5642
110.2
1122
6792
5
112.0
1137
7959
112.3
116 1
7 170
113.8
1170
7,193
115.4
116.9
1 371
4471
193,178
222 197
4 020
216,481
196 429
15,845
18 199
3 792
10332
18 762
11,805
19 665
11,181
19297
3925
14,279
20404
14,806
16088
20,886
12218
4020
20,588
5248
111,199
577,008
2676
100,246
132 953
543,378
2430
118,499
10316
51,609
216
10,110
12526
52699
251
10,271
9 164
31416
173
10,167
11,664
34,373
224
9,914
11682
51941
237
10,557
11338
46871
208
10,501
15585
56264
200
10,214
12158
39548
189
11,146
10947
46,915
164
5
8,661
11702
41936
164
2,187
11,419
51,723
209
1,731
9,502
44,351
174
9,129
1,248
166.7
165.6
125.0
1151
109.9
125.0
115 1
110.3
5
5
LEATHER AND PRODUCTS
LEATHER
Exports:
Upper and lining leather
Producer Price Index, leather
thous. sq. ft.
1982=100..
194 152
140.9
215 358
4
167.5
19273
176.4
17623
165.0
15023
165.7
13967
168.2
21022
168.8
22556
170.7
15835
166.0
22519
164.9
166.6
169.4
170.2
169.2
225 888
217 636
18 630
18263
13887
19 531
19451
19 403
19611
15778
18070
18455
19 590
16797
(3)
(3)
(3)
(3)
(3)
(3)
(3)
11 421
3 429
928
165
1 438
12428
4 752
885
253
(3)
(3)
5 241
260
281
125.8
114 9
110.0
126.0
1160
110.1
126.8
115 1
110.0
3,311
713
2 598
r
3417
743
r
2 674
'3,758
687
r
3 071
r
3877
826
r
3051
3,646
714
2932
3712
753
2959
4,896
4,818
4,837
4,810
6,026
5,036
569
619
581
641
763
196
23
173
LEATHER MANUFACTURES
Footwear:
Production total ()
thous pairs
Shoes, sandals, and play shoes,
except athletic
thous pairs
Slippers
do
Athletic
do
Other footwear .
do
Exports
do
Producer Price Indexes:
Men's leather upper, dress and casual
1982=100..
Women's leather upper
do
Women's plastic upper
do....
162 323
55548
8017
2360
14713
111.4
107 2
104.9
57 781
2464
18394
4
121.3
*112 5
4
107.5
4 909
(3)
306
1 635
5 181
117
1 661
5348
(3)
313
1 432
1 483
6 156
(3)
210
1 652
121.9
1130
107.2
122.8
113 6
107.3
123.2
113 3
107.7
123.1
113 5
105i9
123.5
114 0
108.4
124.6
1140
109.4
125.2
1142
109.5
3,849
768
3 081
3 914
781
3 133
5 283
(3)
208
1 369
5436
(3)
189
1 443
4 055
120.1
111 5
107.3
120.1
111 9
107.2
(3)
(3)
204
(3)
5783
(3)
(3)
4 403
(3)
271
LUMBER AND PRODUCTS
LUMBER—ALL TYPES #
National Forest Products Association:
Production, total
mil. bd. ft..
Hardwoods
do ....
Softwoods
do
Shipments, total . .
.
do
Hardwoods
do
Softwoods
do
Stocks (gross), mill,' end of
period, total
do ....
Hardwoods
do
Softwoods
do....
Exports, total sawmill products
do
Imports, total sawmill products
thous. m3..
SOFTWOODS
Douglas fir:
Orders, new
mil. bd. ft..
Orders, unfilled, end of period
do....
Production
do
Shipments
do
Stocks (gross), mill, end of period
do....
Exports, total sawmill products
thous. m3..
Sawed timber
do
Boards, planks, scantlings, etc ..
do
Producer Price Index, Douglas fir, dressed
1982=100..
See footnotes at end of tables.
2
49,395
2
11,160
2
38 235
2
49 761
2
11 460
2
38 301
2
48,350
2
11,446
2
6,183
1 412
4,771
35,912
33,547
10,325
548
10354
10445
790
1,614
326
1 289
9,412
636
9390
9324
856
C
2202
C
342
1 860
125.1
135.7
4,245
1,030
3 215
4 261
1 001
3 260
4,137
1,099
3 038
4 309
1 037
3 272
3,671
958
2 713
3 688
898
2790
4,056
1,158
2 898
3929
1 117
2812
4,180
1,003
3 177
4038
921
3 117
4,040
778
3 262
3 871
737
3 134
3,715
747
2 968
3 656
Vl6
2940
3,641
690
2 951
3 649
665
2 984
6257
1 363
4,894
36 904
2
47 962
2
11 163
2
36 799
4685
4677
4765
4,823
4951
4,979
4,945
2,971
3,318
2,884
2,799
2,846
2,872
2,695
2,190
844
626
734
837
791
179
26
153
599
541
668
684
775
215
33
179
721
553
751
709
817
205
31
177
795
611
840
806
864
196
26
170
651
553
732
709
887
C
180
14
64
897
636
783
814
856
C
201
C
24
75
869
691
781
814
823
5
206
5
50
5
156
138.7
133.6
135.9
817
619
834
818
894
182
28
153
132.0
135.7
140.6
138.6
896
622
840
827
830
198
24 /
175 \
142.7
140.5
5
r
r
140.7
823
659
746
783
726
142.6
692
629
711
722
715
154.3
694
597
741
726
730
160.3
164.2
S-24
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
Annual
I T .,
Lnits
1987
July 1989
1989
1988
1988
Jn.
May
July
Aug.
Oct.
Sept.
Nov.
Jan.
Dec.
Apr.
Mar.
Feb.
May
June
LUMBER AND PRODUCTS—Continued
SOFTWOODS-Continued
Southern pine:
Orders, new
mil bd ft
Orders, unfilled, end of period
do
Production
do
Shipments
do
Stocks (gross), mill and concentration yards,
end of period
mil bd ft
Exports total sawmill products
cu meters
Producer Price Index, southern pine,
dressed
1982 — 100
Western pine:
Orders new
mil bd ft
Orders, unfilled end of period
do
Production
do
Shipments
do
Stocks (gross) mill end of period
do
Producer Price Index, other softwood,
dressed
1982=100..
'12 614 1 12 552
836
837
1
12 473 1 12 622
1
12 487 1 12 553
1 996
2065
621 072 1 237 638
1 155
832
1 081
1 101
1 116
799
1 127
1 149
867
658
1 033
1012
1 042
694
1 042
999
1 109
717
1 056
1 087
1 133
772
1 089
1078
1 151
852
1 028
1 069
1 067
756
1067
1099
913
836
971
933
r
r
917
l 047
r
995
1 094
775
1,052
1,052
974
733
869
756
r
945
r
r
2036
108 674
2062
109 939
2 113
2114
109 5
1100
1097
1079
1061
104.6
987
624
885
900
1 285
724
533
779
815
1 249
994
589
950
938
1 261
814
542
845
861
1245
869
546
876
865
1256
2049
88 380
2024
90 858
2 045
75 716
2086
105 112
2057
123 175
2068
124 101
2028
161 903
2065
171 664
1085
4
108.6
114 1
1124
1157
1152
1149
106 3
101 6
1029
11 427
524
11 407
11 354
1 365
10 976
537
10898
10963
1 300
1 032
598
968
1 Oil
1 318
901
564
839
935
1 222
705
500
714
769
1 167
790
504
787
786
1 168
897
507
940
894
1 214
925
521
982
911
1 285
1 319
955
537
885
905
1 300
119.0
120.1
121.3
124.2
126.4
123.1
119.9
118.0
117.3
116.5
118.4
122.2
124.1
128.1
130.7
131.4
11.0
173.8
8.7
8.9
193.0
10.9
11.8
16.9
10.0
8.6
16.8
10.5
8.6
16.4
10.5
10.3
16.3
10.9
10.2
14.9
11.3
8.9
15.3
10.9
9.6
16.1
10.6
12.2
14.5
12.0
14.1
21.0
10.4
15.0
16.8
9.8
15.1
17.5
10.5
15.6
18.9
11.0
237
768
606
1 106
334
785
1
355
1 126
1
1216
78
11
1,341
138
93
1,472
101
55
11252
112 20
819
487
887
oco
HARDWOOD FLOORING
Oak:
Orders, unfilled, end of period
Shipments
Stocks (gross), mill, end of period
mil. bd. ft..
do....
do....
10.2
19.2
10.1
10.1
13.0
10.4
»1ETAL SAND
IRON AND STEEL
Exports:
Steel mill products
thous sh tons
Scrap
do
Pig iron
do
Imports:
Steel mill products
do
Scrap
do
Pig iron
do
2069
10098
71
1 129
10367
50
124
1 006
10
126
1 288
(3)
MANU FACTU RES
128
815
2
139
799
2
207
935
17
244
579
2
243
806
1
437
964
1
257
1 887
(3)
(3)
(3)
tons
do
do
do
1
20 891
1 038
700
1 936
39
67
1 979
65
84
1 614
66
12
1 783
90
45
1 648
136
25
1 553
94
99
1 846
124
74
1 420
77
16
1784
129
18
1336
91
36
24730
46105
69 615
4 821
'27 601
'49946
'76904
4 552
2328
4431
6627
4708
2219
4169
6277
4 691
2 177
3987
6 102
4 549
2252
4254
6 379
4 657
2296
4256
6 553
4 640
2353
4390
6 606
4779
2294
4085
6336
4828
2221
3743
6 044
4*552
2310
4047
6 617
4634
2186
4,178
6 144
4714
85 76
Iron and Steel Scrap
Production
thous sh
Receipts, net
Consumption
Stocks end of period
Composite price, No. 1 heavy melting scrap:
20414
843
355
108 98
104 63
102 52
111 67
11396
110 67
110 81
109 17
107 28
113 90
11607
47 644
48013
16867
1 57 347
1
56 694
20 126
5 020
5919
1 613
4 341
5 814
2005
5 095
6 430
2 341
5 152
5 795
1*866
4 g2i
5527
2537
4910
5550
1 431
4 705
4 890
1*441
4793
5 658
1 810
54 890
5
2 155
5814
4 228
1 158
1 384
4 841
1 817
1 249
4426
5418
59 534
'73 216
6780
6784
7 228
7 243
6 906
6 673
6348
7 165
5
3 295
3903
5,996
7,331
61 048
6*219
21 279
2658
16*565
2056
'71 863
05*286
6 216
'368
20 4?8
9*092
10*298
1 038
5 731
687
19 966
7 616
11 297
1 053
6 094
684
20 475
6 325
12*461
1 688
5 637
429
5 820
363
22 928
5 372
15454
2 101
6009
573
5965
*797
23 490
3 296
18003
2 190
5
5981
2
6662
3
6677
6230
22 855
4 355
16 174
2324
5 695
483
23 211
4 170
16886
2 155
23 252
9099
12,749
1 404
22685
12 123
9,991
571
21 145
11,131
9,310
704
10,396
1,061
814
1 128
4,917
Ore
Iron ore (operations in all U.S. districts):
Mine production
thous met tons
Shipments from mines
do
Imports
do
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
thous met tons
Consumption at iron and steel
plants
do
Exports (domestic) . .
do
Stocks total end of period
do
At mines
do
At furnace yards
do
At U S docks
. .
do
Manganese (manganese content),
general imports
do
23 490
3 296
18 004
2 190
21 473
5 682
14064
1 726
4 162
6 687
5
344
s 23 189
5
6 029
5
15,435
5
1 725
64
119
96
75
83
78
111
118
4932
4996
222
4497
4712
236
4762
4 884
229
4 584
4 687
247
4 612
4759
241
4 646
4766
242
4 455
4 611
236
4712
4874
*206
4964
5203
*268
4654
4 880
281
5,112
4,990
(5)
Pig Iron and Iron Products
Pig iron:
Production (including production of
ferroalloys)
thous sh tons
Consumption
do
Stocks, end of period
do
Castings, gray and ductile iron:
Shipments total
thous sh tons
For sale
do
Castings, malleable iron:
Shipments, total
do
For sale . .
.
do
See footnotes at end of tables.
1
48 410
'49 875
281
'55745
' 57 353
206
8606
6002
8 514
5717
788
543
765
516
605
443
748
533
744
504
805
516
701
500
605
412
682
448
623
437
r
714
r
452
694
487
318
168
364
192
32
17
34
18
21
10
27
15
31
16
31
15
23
10
28
14
28
13
25
13
30
14
24
11
4,707
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS- 1986
S-25
SURVEY OF CURRENT BUSINESS
July 1989
1989
1988
Annual
TT .,
Lnits
1987
1988
June
May
Nov.
Oct.
Sept.
Aug.
July
Mar.
Feb.
Jan.
Dec.
May
Apr.
June
METALS AND MANUFACTURES—Continued
Steel, Raw and Semifinished
Steel (raw):
Production
thous. sh. tons ..
Rate of capability utilization
percent ..
Steel castings:
Shipments, total
thous. sh. tons..
For sale total
do
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous sh tons
By product:
Semifinished products
do
Structural shapes (heavy),
steel piling.. ..
do
Plates
do
Rails and accessories
do..
Bars and tool steel total
do
Bars: Hot rolled (including
light shapes)
do
Bars: Reinforcing
.. .
do
Pipe and tubing
Wire and wire products
Tin mill products
Sheets and strip (including electrical),
total . . . .
. .
Sheets: Hot rolled
Sheets: Cold rolled
By market (quarterly):
Service centers and distributors
Construction incl maintenance
Contractors' products
Automotive
Rail transportation
Machinery, industrial equip., tools
Containers, packaging, ship.
1
89,151
79.5
'99,924
89.2
8,832
93.1
8,031
87.4
8,313
88.0
8,181
86.6
8,237
90.1
8,332
87.7
7,883
85.8
7,954
83.8
8,729
88.2
8,022
89.8
8,997
90.9
830
797
1,013
997
85
83
82
81
77
76
92
90
99
98
94
93
92
91
95
94
94
93
87
86
112
110
'83,840
6,325
7,035
6,922
6,712
6,738
7,278
6,832
7,824
7,164
'5,975
502
497
441
521
486
490
453
468
550
507
535
520
541
5,120
4,048
515
'13,575
'5,209
'7,328
'615
' 14,489
475
632
45
1,235
433
686
43
1,248
381
600
41
1,143
432
625
47
1,304
453
627
45
1,167
422
577
39
1,203
411
543
42
1,185
508
367
36
1,121
504
601
44
1,326
451
570
49
1,177
494
661
60
1,294
470
629
53
1,205
474
623
59
1,236
do
do....
do
7,238
4,918
1,361
3,570
1,105
3,988
'7,834
'5,092
1,499
4,443
T,073
4,069
691
418
120
411
93
342
711
410
121
417
109
376
616
418
104
350
94
321
745
432
122
336
92
355
637
411
113
319
87
322
657
424
116
321
92
323
664
404
111
291
83
321
593
418
105
302
67
489
736
443
142
302
87
288
626
421
125
280
86
278
689
461
137
362
97
356
667
407
125
322
97
323
678
425
127
354
95
363
do
do
do....
39,279
13,048
13,859
40,639
12,589
13,871
3,452
1,065
1,190
3,614
1,110
1,243
2,955
947
1,013
3,322
983
1,117
3,416
1,044
1,149
3,445
1,032
1,159
3,384
1,042
1,129
3,360
1,099
1,072
3,577
1,025
1,217
3,433
1,087
1,137
3,965
1,265
1,326
3,544
1,090
1,192
3,701
1,096
1,301
do
do
do
do
do
do....
'18,629
5,619
2,701
1
11,135
734
2,096
18,980
6,014
2,815
12,078
1,116
2,537
5,080
1,559
714
3,193
346
648
4,537
1,460
691
2,901
176
598
4,197
1,398
681
3,046
270
601
4,720
1,595
673
3,235
296
617
4,371
31,337
4,423
'36,011
1,146
9,003
1,121
8,790
1 163
8,944
1,016
9,810
11.3
6.7
4.6
13.1
7.9
5.2
12.7
7.5
5.2
12.1
7.2
4.9
12.9
7.7
5.2
12.7
7.6
5.1
12.9
7.7
5.2
13.0
7.8
5.2
13.1
7.8
5.3
13.1
7.9
5.2
13.1
7.9
5.2
13.1
7.8
5.3
13.0
7.7
5.3
13.4
7.9
5.5
6.4
6.5
7.0
7.1
7.1
7.2
6.9
6.7
6.6
6.5
6.6
6.7
6.8
6.9
3,343
' 1,986
3,946
1,953
336
157
323
158
334
160
333
170
327
167
339
177
332
163
344
156
346
167
312
157
347
182
334
174
<*92.3
29.8
C4
81.9
C4
C4
82.0
C4
c
<*54.9
«26.8
3
99.4
3
78.6
24.4
83.3
31.6
1
1
1
Finished steel
do
Service centers (warehouses), inventory, end
of period
mil. sh. tons..
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. met. tons..
Recovery from scrap t
do
Imports:
Metal and alloys crude
do
c4
do
7,187
6,912
1,030.6
388.5
C4
c4
92.0
<*29.8
C4
c4
80.5
«32.5
C4
79.5
C4
C4
80.0
C4
<* 281.1
ci
258.1
c4
400.1
«* 342.5
<*34.4
C4
33.3
<*43.3
C4
29.0
"41.6
C4
24.6
C4
44.2
C4
32.3
"39.0
"•32.0
C4
25.6
C4
C4
47.5
C4
C4
<*51.3
31.4
3
34.8
3
20.7
41.8
35.8
2
1,627
2
551
2
227
2
1,015
2
97
2
200
2
2
349
3,098
c4
40.6
28.4
C4
29.6
31.0
28.4
24.0
35.6
$ per lb..
.7230
1.1009
1.1448
1.2627
1.2225
1.2439
1.1138
1.0472
1.0735
1.1000
1.0772
.9958
.9578
.9638
mil. lb..
15,584
12,234
7,379
2,232
15,453
12,273
'7,384
2,429
1,331
1,064
'646
221
1,416
1,108
'665
225
1,214
r
994
'617
146
1,357
1,089
'672
193
1,334
1,061
'636
209
1,293
1,029
'604
221
1,322
'979
'577
220
1,155
'911
'566
186
1,273
1,003
681
231
1,242
1,006
630
219
1,358
1,199
'774
235
1,258
1,059
657
214
4,175
'4,151
r
4,344
'4,215
'4,235
'4,175
'4,175
'4,134
'4,119
'4,151
4,189
4,163
'4,160
4,255
1,255.9
1,146.1
1,437.1
1,448.2
121.2
120.6
116.5
120.1
116.5
121.3
129.1
123.9
121.6
113.8
125.5
120.9
123.8
128.4
130.2
128.6
126.9
122.9
121.1
118.9
134.0
130.4
988.1
1,220.2
102.0
101.8
102.9
103.8
93.5
99.5
107.4
106.8
101.4
99.2
107.6
228.0
'442.3
18.6
37.2
18.3
36.9
18.4
29.7
20.1
37.1
20.3
39.3
21.4
36.0
21.0
36.8
21.7
40.0
21.5
36.5
isi.7
22.8
46.3
Sheet and plate
do
Castings
do
Inventories, total (ingot, mill products, and
scrap) end of period
mil lb
Copper:
Production:
Mine, recoverable copper
thous. met. tons..
Electrolytically refined:
do
Refined from scrap <>
Imports, unmanufactured:
Refined, unrefined,
do....
158.0
414.7
Refined
Exports:
Refined and scrap
do ....
657.3
515.6
626.1
390.4
48.0
25.9
43.4
25.1
33.4
22.3
46.4
27.7
42.4
25.7
62.1
44.2
59.4
39.2
44.0
20.2
3
40.8
3
32.7
33.0
24.8
do....
454.8
17.9
707.7
66.5
67.1
7.7
77.6
9.5
44.7
3.5
54.1
4.4
111.3
14.3
48.6
2.3
56.1
4.0
54.5
4.5
3
32.5
3
6.2
41.0
4.8
Consumption, refined
(reported by mills, etc.) <)
do....
Stocks, refined, end of period <}
do....
Price, avg. U.S. producer cathode, delivered §
$ per lb .
2,152
113
2,264
98
195
115
194
92
153
105
199
102
192
91
201
83
196
84
184
98
188
99
183
103
189
105
.8249
1.2051
1.0437
1.1428
1.1485
1.0145
1.1612
1.3805
1.5232
1.6127
1.5777
1.4021
1.4849
See footnotes at end of tables.
2
1,624
2
594
2
263
2
1,064
2
109
2
190
2
2
386
3,215
40.2
43.1
1,250.1
410.3
Exports:
From foreign ores
7,446
7,422
5,456
Other
do .
Producing steel mills, inventory, end of period:
Total
mil. sh. tons ..
Plates sheets bars etc
Price, U.S. market, 99.7% purity,
monthly average
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)
8,171
86.2
99
98
76,654
8,633
88.1
8,738
92.2
39.7
.9780
.8766
S-26
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
SURVEY OF CURRENT BUSINESS
Annual
I7 .,
umts
1987
July 1989
1989
1988
1988
June
May
July
Sept.
Aug.
Nov.
Oct.
Dec.
Jan.
Apr.
Mar.
Feb.
June
May
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS— Continued
Copper-base mill and foundry products,
shipments (quarterly total):
Brass mill products
mil Ib
Copper wire mill products
(copper content)
do....
Brass and bronze foundry products
do ....
Lead:
Production:
Mine, recoverable lead
thous. met. tonsRecovered from scrap (lead cont ).
do
Imports, ore (lead content)
do....
Consumption, total
do
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content), ABMS
thous. met tons
Refiners' (primary), refined and antimonial
(lead content)
thous. met. tons..
Consumers' (lead content) <}
do....
Scrap (lead-base, purchased), all smelters
(gross weight)
thous. met. tons..
Price, common grade, delivered @@
$ per Ib..
2,624
1,922
528
311.3
384.6
697.9
240.3
256.6
1,230.4 " 1,230.7
'710.2
30.3
52.2
20.8
104.3
32.5
59.4
8.7
103.1
30.4
55.3
25.3
91.6
36.3
56.3
21.7
100.9
33.1
60.7
23.3
101.7
34.4
61.8
21.3
109.3
31.1
61.6
23.5
103.0
33.3
62.1
17.2
104.7
31.8
59.7
19.1
94.6
31.0
58.6
8.6
98.3
34.4
'67.5
7.3
101.2
64.1
6.5
98.7
3
59.2
66.9
57.8
60.8
58.9
73.0
79.9
70.8
68.7
66.9
60.1
55:2
57.8
54.9
21.6
88.6
15.4
65.2
24.1
55.6
15.0
59.4
14.7
63.3
6.0
58.6
4.6
62.2
10.6
59.4
11.9
60.7
15.4
67.6
26.0
68.4
33.0
68.1
39.1
72.1
24.0
21.4
.3714
16.2
16.3
16.4
19.9
.3652
16.8
.3701
.3507
1,105
443
4,379
4,602
3,249
(3)
4,042
1,573
984
98
5,600
4,500
126
771
113
5,300
4,200
89
693
96
5,300
4,200
204
712
96
5,500
4,400
171
149
2,114
649
47
4,700
3,700
162
5,480
4.4142
6,128
4.2500
6,456
4.3984
5,665
4.4611
4,350
4.5770
4,171
4.6305
17.7
16.1
.3502
3,419
919
96
5,300
4,200
108
67.3
15.3
.3650
17.7
.4017
17.3
.3630
23.7
.3841
19.9
.3457
63.6
37.5
68.2
.3594
21.8
.3915
19.6
.4138
.4202
4,372
4,328
3,695
821
96
5,600
4,500
197
703
96
4,900
3,800
94
561
4,900
3,800
45
598
11
4,800
3,700
3
62
4,371
4.5462
4,781
4.5767
4,943
4.6029
4,242
4.6435
3,894
4.9165
'4,320
5.4309
22.2
20.8
23.0
Tin:
Imports (for consumption):
Ore (tin content)
metric
Metal, unwrought, unalloyed
Recovery from scrap, total (tin cont.)
As metal
Consumption total
Primary . .
tons ..
do
do....
do
do
do
Exports (metal)
do
Stocks, pig (industrial), end of
period
do
Price, Straits quality (delivered)
$ per Ib..
Zinc:
Mine prod., recoverable zinc
thous. met. tonsImports:
Ores (zinc content) . .
do
Metal (slab, blocks)
do
Consumption (recoverable zinc content):
Ores .
.
.
do
Scrap, all types
do
Slab zinc: @
Production, total $
thous. met. tons ..
Consumption fabricators
do
Exports
do
Stocks, end of period:
Producers', at smelter (ABMS)
do....
Consumers'
do
Price, high grade
.
$ per Ib
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
orders (domestic), net, qtrly #
mil. $..
Electric processing heating equipment
do....
Fuel-fired processing heating equip
do....
Materials handling equipment, dollar value
bookings index *
1982 — 100
Industrial supplies, machinery and equipment:
New orders index, seas, adjusted
1977 = 100 ..
Industrial suppliers distribution:
Sales index seas adjusted
1977 — 100
Inflation index, not seas. adj. (tools, material
handling equip., valves, fittings, abrasives,
fasteners, metal products, etc.)
1977 = 100..
Fluid power products shipments indexes:
Hydraulic products §
1985—100
Pneumatic products §
do....
Machine tools:
Metal cutting type tools:
Orders, new (net), total
mil. $.
Domestic
do
Shipments, total
do ...
Domestic
do.
Order backlog, end of period
do...
Metal forming type tools:
Orders, new (net), total
do...
Dbmestic
do
Shipments, total
do
Domestic
do...
Order backlog, end of period
do...
See footnotes at end of tables
1
2,967
41,151
15,793
1
1,151
'53,100
39,800
1,701
4,428
4.1878
2,837
43,493
'7,053
'1,174
61,100
C
48,400
130
242.1
22.0
22.4
18.8
21.5
19.9
19.9
19.9
405.7
740.8
37.9
84.5
24.6
57.3
48.9
55.8
35.2
4.6
35.1
61.2
30.8
63.9
32.3
64.2
27.9
47.4
303i5
270.6
.2
22.0
.2
22.0
.2
22.0
.2
22.0
.2
22.0
.2
22.0
.2
22.0
16.3
84.6
(2)
16.8
73.9
(2)
16.6
111.8
,1
15.1
86.9
.2
15.9
97.5
.1
17.6
87.2
(2)
5.4
48.8
.7125
'217.0
J
1
3,614
19.3
425.5
705.9
3
2.4
220.5
194.4
1,052.0 '1,104.0
16.3
110.7
(2)
1.1
.5
7.0
57.1
.4192
5.6
49.0
4.3
41.8
4.5
46.3
6.0
53.2
7.5
48.4
9.4
49.4
6.3
47.0
.6020
.5604
.6255
.6564
.6646
.6826
.6945
'226.0
228.2
54.9
62.7
165.5
'171.1
'686
629
47
'4,300
'3,300
4,600
3,500
204
.3
74.7
.2
22.0
.2
22.0
.2
22.0
.2
22.0
14.7
88.1
17.8
90.0
3
.2
16.3
81.4
.2
17.6
95.0
3.3
50.2
.9371
3,865
6.4213
1.1
52.6
(2)
3
5.6
49.0
5.0
50.5
4.0
54.2
.7344
.7927
.8770
16.8
3.8
-«
3.6
.8852
61.8
24.1
37.8
608
146
462
73.1
142
589
50.5
15.7
348
3
2,839
207.1
213.4
203.1
243.7
210.6
188.2
211.3
273.6
237.8
252.6
128.7
138.2
138.2
133.4
133.5
135.4
134.9
141.0
142.7
146.5
149.1
164.0
155.5
159.1
162.4
176.2
179.7
170.1
166.7
167.6
177.2
176.2
160.0
166.6
172.2
171.9
172.1
172.3
173.4
173.9
174.2
174.8
176.0
177.6
178.3
179.5
180.3
180.1
173.4
164,0
181.0
182.1
107
105
129
120
127
117
137
122
116
112
134
125
132
124
134
125
125
118
132
114
140
130
141
128
158
150
151
129
150
148
1,451.45
1,294.45
1,676.50
1,498.85
672.2
2,707.90
2,315.75
1,574.55
1,400.10
1,805.5
242.85
205.65
111.25
. 100.25
1,252.2
238.35
210.65
132.80
116.00
1,357.8
187.00
167.55
137.70
126.15
1,410.0
261.50
179.30
105.40
93.00
1,566.2
266.50
252.95
151.20
133.50
1,681.4
215.40
199.25
145.90
123.35
1,751.0
188.35
164.60
170.80
156.70
1,768.5
246.40
191.50
209.35
186.40
1,805.5
167.00
145.40
102.85
89.50
1,869.7
214.95
191.30
151.25
133.90
1,933.4
220.60
200.20
227.45
207.25
1,926.6
152.80
138.50
184.05
168.35
1,895.3
147.90
138.10
158.40
145.40
1,884.8
667.35
536.05
647.15
537.90
327.3
882.95
749.35
824.55
702.20
385.7
81.85
73.25
68.45
57.35
321.4
144.45
134.60
67.95
53.80
53.00
43.75
399.6
78.00
73.50
48.55
40.75
429.0
61.70
51.65
76.35
65.70
414.4
46.85
40.00
66.25
55.30
395.0
90.65
66.25
86.75
70.05
60.20
83.20
64.30
385.7
63.85
56.60
49.35
42.20
400.2
67.00
57.05
77.55
66.40
389.6
69.90
58.20
79.20
67.00
380.4
89.75
76.40
65.50
58.80
404.6
57.35
49.85
82.35
81.25
69.25
384.6
80.15
398.8
74.10
379.6
148
147
S-27
SURVEY OF CURRENT BUSINESS
July 1989
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
IT .,
Units
1987
1989
1988
Annual
1988
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
METALS AND MANUFACTURES—Continued
MACHINERY AND
EQUIPMENT-Continued
Tractors used in construction, shipments, qtrly:
Tracklaying (ex. shovel loaders)
units
Wheel (contractors' off-highway)
Shovel loaders $
units..
mil $
units
mil. $ ..
ELECTRICAL EQUIPMENT
Batteries (auto.-type replacement),
shipments
thous
Radio sets, production, total market tt . thous
Television sets (inch combination models),
production, total market tt
thous ..
Household major appliances (electrical), factory
shipments (domestic and export) #
thous..
Air conditioners (room)
do....
Dishwashers
do
Disposers (food waste)
do....
Microwave ovens/ranges @
do
Ranges
do
Refrigerators
do
Freezers
do
Washers
do
Dryers (incl. gas)
do....
Vacuum cleaners (qtrly ) .
do
GAS EQUIPMENT (RESIDENTIAL)
Furnaces warm air shipments
thous
Ranges, total, shipments
do
Water heaters (storage), automatic,
shipments
do....
9668
9738
5,482
4155
62825
18195
12240
1 178 9
5,134
418 1
63733
2 1134
59 878
28 110
63 487
23 623
4 122
1 572
20170
1582
2
23,497
49,981
3,798
4032
4,438
12 610
3 346
6972
1260
5998
4,637
10417
2073
2 143
3
47 ,070
3
4,637
3 907
4,'233
10988
3
3 202
^7227
3
1349
3
6 190
4,601
10652
4,016
708
326
324
697
r
251
616
112
515
353
3 446
289 6
1,196
97 5
16339
5471
2835
282 6
1376
115 2
14944
5031
3 150
323 1
1320
106 5
17 060
5543
4988
2 124
4733
2075
5783
2 120
6757
2493
6463
2670
6041
2834
6 245
1 940
4 674
1688
4203
1 518
4 754
1752
1931
1485
1853
2567
1953
1838
2329
1,649
1,846
2,254
4,512
835
330
336
789
r
310
753
126
546
r
382
2487
3,824
405
312
345
746
252
778
156
460
328
3,150
198
349
364
770
287
781
152
589
429
3,963
111
335
369
1 031
270
686
128
584
437
2882
3,975
129
336
387
1 123
302
625
110
533
413
3,933
126
355
381
1 224
287
537
99
508
401
3,679
215
318
343
1 161
262
467
94
440
363
2550
3,947
352
326
391
1 054
245
466
93
553
436
3,916
546
293
380
963
225
460
94
510
394
r
4172
1927
4656
1985
4,444
846
324
414
906
273
564
90
539
385
2952
3,868
718
275
335
824
226
536
93
457
323
4,326
748
292
336
907
263
686
111
533
374
4,389
718
324
331
788
263
785
116
572
389
3,951
2092
2 167
118
168
138
176
164
162
201
193
254
182
252
203
223
203
177
191
178
158
148
156
135
194
132
163
3,956
3
317
333
287
290
321
381
307
383
337
328
375
354
324
337
50
103.5
270
70
103.1
276
82
103.0
iosio
88,981
77,213
82,503
78,551
8701
94.7
94.8
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production t
thous. sh. tons..
Exports
thous. met. tonsProducer Price Index
1982=100..
Bituminous:
Production t
thous. sh. tonsConsumption, total t
do
Electric power utilities
do
Industrial, total
do
Coke plants (oven and beehive)
do....
Residential and commercial .
do
Stocks, end of period, total t
do
Electric power utilities
do
Industrial, total
do ..
Oven-coke plants . . . .
do
Exports
thous. met tons
Producer Price Index
1982=100 ..
3,560
1,071
100.1
3,458
817
101.2
296
49
100.2
282
47
100.1
246
71
100.3
360
88
100.3
315
177
100.8
377
94
100.9
302
50
102.3
253
87
103.2
915,202
834 337
716 922
111 696
36,920
5719
178 485
163 857
14628
3 879
70438
97.1
946,304
880 242
756 459
117 730
41866
6054
151 446
139 583
11863
3 125
85282
J
95.3
73,981
66 159
56258
9 586
3682
314
171 849
159 596
12253
3 855
7 091
95.1
76,443
74740
65093
9 261
3 350
386
166 487
154 429
12058
3757
7 256
95.1
69,176
81 637
71 500
9 533
3 601
604
153 434
141 575
11 859
3 460
7461
95.6
88,175
85 107
75*165
9 356
3'414
586
146 435
134*774
11 660
3'l64
8367
95.0
83,196
71 221
61 460
9 416
3 457
345
147 691
136 229
11 462
2 868
8 948
95.4
80,799
70009
59446
10 207
3 545
356
151 931
140 336
11 595
2 953
8072
95.5
82,925
69742
59 192
10076
3 399
474
154 919
143 190
11*729
3*039
7476
94.6
80,260
77 792
66775
10 255
3564
762
151 446
139 583
11 863
3 125
8089
94.6
'81,969
28,037
37 380
32,405
39766
3 357
8 112
3 274
3 326
3 343
8 195
3 179
3 276
3338
8251
3471
1 497
217
1 140
942
198
1 636
69
1 512
60
1 271
1 107
164
1 427
84
1 660
131
1583
1420
163
1 558
167
r
r
282
11
103.3
'281
4
59
103.3
1
r
75,040
r
66355
62538
61 830
135 168
130 641
132 444
5 659
94.1
6 106
r
93.5
7 542
93.6
8186
94.1
3 505
2931
3 201
3 200
1 588
1 669
30
1 655
76
1 93i
60
253
4
COKE
Production:
Beehive and oven (byproduct)
Petroleum coke §
Stocks, end of period:
Oven-coke plants, total
At furnace plants
At merchant plants
Petroleum coke tt
Exports.
.
thous. sh. tons..
do
do....
do....
do
do
thous met tons
PETROLEUM AND PRODUCTS
Crude petroleum:
Producer Price Index
1982=100 ..
Gross input to crude oil distillation
units tt
mil. bbl..
Refinery operating ratio tt
% of capacity..
All oils, supply, demand, and stocks: tt
New supply, total 0
mil. bbl ..
Production:
Crude petroleum
do
Natural gas plant liquids
do....
Imports:
Crude and unfinished oils
do....
Refined products
.
do
Change in stocks, all oils
do
Product demand, total
do
Exports:
Crude petroleum .
.
do
Refined products
do
See footnotes at end of tables.
1,064
846
218
1 350
590
55.5
1,583
1,420
163
1 558
1 Oil
1 694
56
1 612
41
4
52
r
'46.2
51.5
50.6
45.7
45,0
42.6
39.3
39.2
44.3
49.7
50.3
53.6
58.6
4,746.1
83
4,920.6
84
422.5
86
411.1
86
427.9
86
432.2
87
400.7
84
412.8
84
400.2
84
420.2
85
418.8
86
364.3
83
407.9
84
393.9
84
6,089.6
6,214.6
530.0
501.0
518.3
524.8
504.1
538.4
517.5
538.1
547.7
486.4
517.6
524.8
3 047 4
605.6
29750
615.4
2543
52.0
2447
49.7
249 8
51.8
250 0
52^5
237 0
50.6
247 3
53.6
239 6
51.8
247 2
52.9
245 3
53.5
219 2
45.9
2359
52.7
2324
51.5
1,837.3
5994
149
63608
1,995.9
6283
79
65831
177.2
46 5
33 8
5249
165.5
41 0
10
5398
169.9
46 9
16 1
5389
168.0
54 3
59
5639
166.6
500
67
5247
183.6
540
27
5647
165.0
61 2
42
5443
171.9
66 1
348
6026
182.8
66 1
199
5568
161.1
602
17 9
5217
165.7
63 9
32 1
5816
186.7
54 2
26 5
5210
550
2230
58 1
241 0
44
20 9
42
23 9
59
19 8
48
204
37
16 5
53
17 5
45
170
41
27 2
42
190
58
18 5
48
21 6
42
200
115
59.8
58.4
July 1989
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
j,.ta
Lnits
1987
1989
1988
Annual
1988
June
May
Aug.
July
Dec.
Nov.
Oct.
Sept.
Jan.
Feb.
Mar.
May
Apr.
June
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS t-Continued
All oils, supply, demand, and stocks— Continued
Domestic product demand, total #
mil. bbl..
Gasoline
do
Distillate fuel oil
Residual fuel oil
do
do
Lubricants
do
T-
f j
* i
j
Stocks, end of period, total
do....
Stratee'c etroleum e erve
d
Unfinished oils, natural gasoline etc
do
Refined products
do
Refined petroleum products:
Gasoline (incl. aviation):
Production
do
Stocks, end of period
do....
Prices, regular grade (excl. aviation):
Producer Price Index
1982 — 100
Retail, U.S. city average (BLS):
Leaded
$ per gal
Unleaded
do ....
Aviation gasoline:
Production
mil bbl ..
Stocks, end of period
do ....
Kerosene:
Production
do ....
Stocks, end of period
do ....
Producer Price Index (light
distillate)
1982=100..
Distillate fuel oil:
Production
mil bbl ..
Imports...
do....
Stocks, end of period
do ....
Producer Price Index (middle
distillate)
1982=100..
Residual fuel oil:
Production
mil bbl .
Imports...
do...
Stocks, end of period
do ...
Producer Price Index
1982=100 .
Jet fuel:
Production
mil bbl .
Stocks, end of period
do...
Lubricants:
Production
do...
Stocks, end of period
do ...
Asphalt:
6,082.7
2,639.1
34.5
1,086.4
461.5
505.5
58.7
170.3
588.3
1,607.5
889.6
540.6
6,284.1
2,686.6
35.0
1,136.0
486.4
529.3
57.1
170.8
609.9
1,599.6
890.8
559.5
499.6
226.4
1.9
85.5
29.3
42.2
5.5
17.0
41.9
1,611.6
905.7
547.9
511.6
236.1
1.5
84.6
33.0
43.0
4.6
21.6
40.3
1,610.6
909.1
550.1
513.2
232.7
1.8
82.1
36.5
43.4
4.7
21.0
43.9
1,626.7
900.7
551.3
538.6
233.7
1.8
88.6
39.0
44.6
5.0
25.0
47.0
1,620.7
885.3
552.1
504.5
221.3
2.4
84.2
33.4
42.7
4.9
21.1
51.1
1,627.4
883.1
554.7
541.9
226.7
2.7
99.3
39.1
46.0
4.8
17.9
55.4
1,630.1
895.6
556.0
522.8
221.7
3.3
94.6
43.6
43.1
4.8
11.7
52.6
1,634.4
895.7
558.7
571.3
228.3
4.8
110.3
54.4
48.2
3.6
7.0
62.9
1,599.6
890.8
559.5
533.6
209.4
4.4
102.2
49.5
46.2
4.3
4.3
63.6
1,619.5
894.8
561.5
497.4
199.1
3.6
95.5
47.1
42.8
4.3
5.6
57.1
1,601.6
896.6
563.9
555.1
230.8
2.6
106.3
47.6
45.8
5.7
7.1
56.2
1,569.5
892.5
566.2
496.8
215.4
2.0
89.2
42.6
41.2
4.6
10.8
45.2
1,595.9
907.4
568.0
138.3
579.5
145.9
562.9
158.6
547.4
160.1
541.4
159.8
566.2
157.7
577.7
158.5
585.8
156.4
578.2
158.5
580.2
145.9
562.9
151.8
572.9
154.8
550.1
156.2
520.7
158.0
530.5
2,506.2
191.1
2,554.4
191.8
213.2
190.4
210.3
175.6
2229
179.7
224.3
184.3
209.3
183.8
214.0
182.0
212.3
185.7
227.2
191.8
215.6
207.8
186.7
205.7
205.7
191.1
205.2
190.6
58.2
60.9
60.7
63.2
64.4
58.1
56.6
59.6
55.1
55.3
'57.4
60.6
74.5
80.1
78.0
.900
.946
.911
.955
.910
.955
.923
.967
.945
.987
.933
.974
.910
.957
.904
.949
.885
.930
.876
.918
.886
.926
.907
.940
1.047
1.065
1.098
1.119
1.093
1.114
58.3
55.4
2
59.5
.897
.948
9.1
2.3
9.2
2.1
(j
2.0
.8
1.8
1.0
1.8
1.0
1.9
.8
1.9
.8
1.9
.6
1.9
.8
2.1
.6
2.0
.6
2.2
.7
2.1
.6
1.8
28.7
8.4
28.7
7.3
1.5
5.6
1.6
6.0
2.0
6.2
2.5
7.1
2.3
7.5
2.5
8.0
3.0
8.1
3.1
7.3
3.4
7.3
2.0
5.9
2.4
5.7
2.0
5.8
54.1
*51.6
996.6
93.2
134.5
1,046.9
103.2
123.5
2
55.5
49.5
53.7
53.0
51.0
50.0
49.2
46.9
48.4
50.4
54.6
'54.3
55.6
58.3
90.9
7.1
104.5
86.8
6.3
110.7
86.3
6.4
119.4
88.2
8.4
125.2
83.4
8.7
131.0
87.7
10.1
127.9
87.1
9.2
128.7
95.1
12.7
123.5
92.2
10.2
120.3
78.4
9.0
107.5
84.1
13.6
96.6
83.6
9.0
984
54.3
50.6
46.9
46.8
45.9
42.3
47.2
50.6
54.9
r
54.0
57.3
61.5
57.5
53.3
26.8
16.0
37.8
39.6
25.8
17.0
44.2
40.4
26.7
16.2
42.4
38.8
27.7
22.9
45.1
36.5
33.1
29.2
44.5
40.0
29.4
27.2
47.0
42.1
26.0
24.2
46.0
43.7
29.0
21.8
42.4
43.5
27.1
20.4
40.2
47.3
49.4
51.2
j r-
•j
26.8
13.1
45.7
42.6
26.4
10.5
42.1
43.7
490.1
49.9
501.3
43.7
39.9
46.8
40.2
45.7
42.3
47.0
41.7
46.8
41.3
46.8
42.3
47.3
40.1
46.5
45.8
43.7
46.6
44.5
39.4
43.7
43.3
44.0
38.1
44.2
60.9
13.3
62.5
13.3
5.6
13.8
5.5
13.9
5.2
14.0
5.3
13.6
4.3
12.5
5.2
12.8
5.0
12.5
5.0
13.3
5.4
14.3
4.6
14.5
5.2
13.9
4.6
13.5
158.4
18.8
162.1
20.8
15.3
30.1
17.5
27.0
18.6
25.6
20.1
21.9
17.8
19.6
15.7
18.6
11.0
18.7
8.5
20.8
8.4
25.6
8.2
29.1
10.2
32.6
10.5
33.1
662.4
56.1
54.1
56.7
57.3
55.
57.9
54.9
56.1
58.2
50.2
589
58.5
474.5
163.7
97.1
H°
339.6
217.0
44.5
2
41.1
638.2
o5 i
323.2
206.1
47.4
53.1
28.3
13.5
41.1
40.4
481.2
181.2
98.9
40.9
15.2
90.0
38.9
15.2
100.0
40.2
16.6
111.9
40.4
16.9
120.6
39.3
15.
121.
42.1
15.9
119.9
40.9
14.0
115.
41.5
14.6
98.9
41.8
16.3
87.0
364
13.9
77.5
41.6
17.3
75.0
40.6
17.9
83.8
8,440
8,358
4,861
7,748
7,837
4,701
8,035
8,169
4,490
7,858
8,040
4,402
Liquefied petroleum gases:
At gas processing plants
(L P G )
At refineries (L R G )
Stocks (at plants and refineries)
do
do
do..
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD
Receipts
thous cords (128 cu ft )
Consumption
do ....
Inventories, end of period
do...
1
94,312
1
WASTE PAPER
Consumption
thous. sh. tons ..
Inventories end of period
do
1
17,993
902
1
59,552
1,312
48,293
WOODPULP
Production:
Total
Dissolving pulp
Paper grades chemical pulp
Groundwood and thermoSemi chemical
Inventories, end of period:
Producers' own-use
thous. sh. tons ..
do ....
do....
d
do
Consumers' purchased
do....
Dissolving and special alpha
All other
do....
do
Dissolving and soecial aloha
All other
do
do
See footnotes at end of tables.
1
95,537
1
95,497
4,888
7,611
7,650
4,420
7,766
7,689
4,507
7,652
7,901
4,232
8,007
7,951
4,325
8,080
7,956
4,484
8,245
7,908
4,726
7,889
7,887
4,790
8,370
8,198
4,888
rl
18,860
1,029
1,611
897
1,565
908
1,525
905
1,626
971
1,553
1,057
1,597
1,022
1,565
1,058
1,526
1,029
1
61,161
1,367
49,493
5,004
113
4,011
4,949
117
4,003
5,219
117
4,241
5,265
119
4,272
5,007
135
4,045
5,079
99
4,100
4,974
112
4,007
5,282
127
4,303
5,466
127
4,423
5,702
4,246
5,943
4,358
507
373
480
349
497
363
504
371
473
354
513
367
489
365
484
367
170
224
529
1
4,579
627
1
4,100
'4,512
87
1
4,444
172
'261
'622
1
5,016
786
'4,374
1
4,481
124
1
4,381
160
243
513
393
55
337
376
6
370
175
193
534
451
92
359
376
12
365
194
236
548
356
51
305
377
2
376
199
247
634
451
57
395
417
15
403
198
272
628
470
73
396
344
10
333
161
275
583
382
67
315
396
4
392
170
301
591
381
66
315
386
15
371
172
261
622
519
81
438
285
16
269
93,946
5,096
1,612
1,011
1,550
1,027
4,821
102
3,935
'5,307
142
'4,286
5,193
106
4,209
520
397
438
346
502
'378
512
366
178
344
596
3
415
3
50
3
365
3
517
3
23
3
494
178
354
608
460
63
397
358
14
345
179
'279
r
592
190
305
596
1,572
1,008
1,491
'987
S-29
SURVEY OF CURRENT BUSINESS
July 1989
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
Annual
f , .,
units
1987
1989
1988
1988
May
June
Aug.
July
Sept.
Nov.
Oct.
Jan.
Dec.
Mar.
Feb.
Apr.
May
June
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS
Paper and board:
Production (API):
Total
thous sh tons n 74 440 n 76 557
r
Paper
do
36 995 r38 450
Paperboard. .
do
37 445
38 107
Producer Price Indexes:
Paperboard
1982-100 ..
1332
1181
Building paper and board
do....
1112
1133
Selected types of paper (API):
Groundwood paper, uncoated:
Tl
Orders, new
thous sh tons
1 542 n ir 654
Orders, unfilled, end of period
do....
166
210
Tl
Shipments
do
1 498 n i 624
Coated paper:
Orders new
do
'7 066 n 7r 404
Orders, unfilled, end of period
do....
708
721
r
Shipments
do
7 359
6860
Uncoated free sheet papers:
rin 173 rin 314
Orders new
do
Tin 206 rin 494
Shipments
do
Unbleached kraft packaging and industrial
converting papers:
;
Shipments
thous sh tons
3081 1 3 038
15 476
15301
Tissue paper production
do
Newsprint:
Canada:
Production
thous metric tons
9 969
9 669
Shipments from mills
do
9 867
9757
291
Inventory end of period
do
189
United States:
Production . .
do
5300
5427
Shipments from mills
do
5310
5415
Inventory, end of period
...
do
48
36
Estimated consumption, all
users 0
do ....
12,322
12,336
Publishers' stocks, end of period #
900
932
Imports
do
7 794
8 142
Producer Price Index,
standard newsprint
1982 = 100..
112.3
127.6
Paper products:
Shipping containers, corrugated and solid
fiber shipments
mil. sq. ft. surf. area.. 297,827 307,457
r
5985
r
2989
r
r
6651
r
3,361
r
r
6200
r
3,050
r
3,150
6,421
3,155
3,265
137.7
112.9
138.7
113.8
141.6
114.2
143.8
115.1
143.5
115.5
177
210
125
140
182
148
127
180
133
163
r
204
147
134
182
149
146
189
142
575
729
606
570
722
573
588
678
633
r
561
696
550
r
599
r
701
r
r
505
r
647
r
608
676
577
937
965
880
943
989
948
1-931
r
976
r
884
r
1 015
1 021
r
866
r
863
954
261
458
248
476
254
258
450
r
r
r
445
218
451
229
474
846
847
342
790
830
301
865
803
364
837
845
356
809
874
291
850
763
378
777
731
425
806
814
418
814
785
446
838
851
434
461
459
67
446
447
67
461
461
67
448
456
59
464
475
48
460
437
71
404
412
64
469
462
70
449
442
78
458
462
73
6440
3*176
3*264
6 317
3 165
3 152
6 271
3 090
3 181
6607
3 323
3284
6346
3 219
3 127
6466
3 264
3203
6 222
3 165
3 056
6 296
3 140
3155
r
6582
r
1334
1134
1340
114.2
1343
1139
1345
1127
1362
1125
1364
112.5
1365
112.7
136.5
113.3
152
179
135
122
188
120
131
177
134
136
171
147
143
173
141
145
168
147
113
145
130
620
678
601
612
688
617
662
746
594
641
756
648
584
729
606
666
749
625
921
941
965
953
909
920
953
1 001
927
973
236
461
244
454
240
452
250
471
860
856
363
799
851
311
827
794
343
466
463
63
445
449
59
436
431
65
1,058
997
968
995
952
990
649
973
660
1 007
663
1 004
673
695
25,036
1,094
1,135
r
1,037
936
638
898
641
933
489
272
466
963
936
3
1 351
2996
r
912
235
437
935
3,289
604
r
264
503
r
1,054
544
919
r
1,056
141.3
115.8
1,043
925
568
889
850
838
127.9
127.8
127.7
127.8
127.7
127.5
126.6
126.5
126.0
128.3
128.2
124.1
123.4
25,920
24,470
26,878
26,059
27,797
24,876
23,467
26,444
24,086
26,755
26,367
26,734
26,391
r
r
5026
67 51
2329
9061
7703
127.9
r
1,047
3 297
3285
r
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
thous metric tons
77582 r858 28
Stocks, end of period
do
61 74
7246
Imports, incl. latex and guayule
do
75760 853 82
U.S. Import Price Index t
1985-100 .. 1157
1477
Synthetic rubber:
Production
thous metric tons 2 184 12 2 324 86
Consumption
do .... 2,017 31 2 009 64
Stocks, end of period
do
22972 27662
Exports (Bu. of Census)
do
429 40 459 98
TIRES AND TUBES
Pneumatic casings:
Production
Shipments, total
Original equipment
Replacement equipment
Exports
Stocks end of period
Exports (Bu. of Census)
Inner tubes:
Exports (Bu. of Census)
See footnotes at end of tables.
thous .. '202,978 '211 351
do
255 220 264 811
do .... 60,758 62,932
do
186 406 189 212
do
12 666
8056
do
34338 33 191
do
9 580 16 149
do
1 518
1712
r
6870
7294
67 24
r
6620
71 56
6485
1758
r
53 54
6874
49 49
rgo 57
71 ig
83 25
r
64 60
63 93
59 12
1499
r
74 53
57 92
6931
7539
5843
77 43
7522
61 74
7473
1327
3
88 81
71 11
44 34
106.0
135.1
201 86
180 53
258 20
3625
18876
15050
27662
32 12
20506
18765
28641
3
18 93
178 15
18162
28446
2038
20408
201.96
29143
19 138
24 312
5,672
17 476
1 163
34 074
1 400
17 253
22 622
5,529
16 103
989
33434
1 322
16102
20 635
4,934
14708
993
33 191
1 314
18944
21 466
5,485
14576
1 405
35 186
3
1 903
18,102
19 613
5,348
12886
1 377
37 884
1373
19,670
22 166
5,569
15008
1588
40552
182
144
132
205 40
17208
246 18
4043
197 36
16630
249 56
41 12
187 36
16091
261 01
2976
200 36
171 10
25987
4403
189 61
16245
25861
38 62
193 15
170 58
259 03
37 18
17 403
22539
6,010
15 559
970
40 159
1 380
17 941
24764
5,718
18 055
992
37 976
1 157
15022
20 101
3,526
15 783
793
37 355
995
18058
24 002
4,844
18 042
1 116
36064
1 348
18 115
23 738
5,556
17 118
1 064
34 771
1 420
161
113
162
130
149
r
3
243
122
19,224
22375
5,770
15221
1384
42791
S-30
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
SURVEY OF CURRENT BUSINESS
Annual
,, .,
July 1989
1989
1988
Units
1987
May
1988
Aug.
July
June
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
June
May
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
thous. bbl.. '480,410 '480314
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil. standard brick ..
Structural tile except facing
thous sh tons
Sewer pipe and fittings vitrified
do
Floor and wall tile and accessories, glazed
and unglazed
mi sq ft
Producer Price Index, brick and structural
clay tile
12/84-100 ..
Predecorated wallboard
5
Ae mobile home board
Water/moisture resistant board
tons
do
do
50 117
43803
49 564
47580
47 250
39750
32505
27 176
23,133
33,782
39,261
44,585
635.9
7,807.8
58 1
3163
716.8
51
27 5
777.1
53
34 1
682.1
53
31 2
751.0
47
36 6
714.1
47
27 7
752.6
47
26 2
617.3
47
222
516.0
47
15 6
500.4
47
184
429.9
47
14 3
605.3
47
19 1
569.2
316 9
24 8
258
4789
4882
41 3
44 3
368
42 2
420
41 3
40 5
400
393
424
47 9
41 5
462
108.2
110.9
110.9
111.1
111.1
111.1
111.1
111.0
111.2
111.2
111.6
111.6
111.7
111.9
111.7
25457
22882
20993
20344
22237
21 944
22352
20936
25482
24 178
23 837
24831
25388
25467
7,600.5
(2)
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
thous $ 1 457 5871 484 949
Glass containers:
285 030 280 102
Production t
thous gross
Shipments, total t
do
281 636 276 024
Narrow-neck containers:
25137
27252
Food t
do
Beverage
do
61 325
62434
Beer
do
85357
86 299
Liquor and wine t
do
28 382
26 593
Wide-mouth containers:
Food and dairy products
do....
65,885
62,673
Narrow-neck and wide-mouth containers:
Medicinal and toilet
do....
9,772
14,167
Chemical, household, and in1013
dustrial
...
...
do
1 371
Stocks end of period t
do
42426
41 926
GYPSUM AND PRODUCTS
Production:
Crude gypsum (exc byproduct) thous sh
Calcined
Imports, crude gypsum
.
.
Sales of gypsum products:
Uncalcined
Calcined:
Industrial plasters
Building plasters, total
(incl Keene's cement)
Board products total
mil
Lath
Veneer base
Gypsum sheathing
Regular gypsum board
45356
1
15 612
1 17 592
380 269
369 275
25475
24 387
25225
25598
2532
5 617
8 142
2518
2367
6 342
7 546
2718
2167
5896
7*741
2533
2828
5968
7 482
2338
2349
5 129
6 943
1 846
1 748
4775
7 332
1*960
1 511
4 216
6 602
1 798
1327
4306
6403
1 715
1605
4 528
7 390
1 959
1668
4304
6767
1 883
1852
5201
7 767
2 113
1939
r
6 114
7 940
2154
2,010
6254
7917
2379
5,091
5,874
5,324
6,121
6,013
6,153
5,294
4,828
5,635
5,402
6,351
5,810
5,948
879
850
674
786
825
829
814
753
727
796
768
752
879
55
44970
67
43614
52
44466
75
43 544
91
42466
85
44835
109
45 150
99
42426
100
42807
116
44078
126
49 628
122
44423
80
45 124
22 586
23 196
17 009
19431
1 231
1 327
685
1 291
1 277
878
1 203
1 340
804
1 059
1*458
775
1 521
1 444
760
1 429
1 760
850
1 279
1 385
915
1 460
1 330
875
do
'6324
5313
415
632
444
417
462
533
460
564
do
'496
150
11
11
12
10
11
13
12
13
do
do
do ....
'280
20 507
23
'479
1
313
1 13 920
'4 489
'128
'598
'557
235
20 612
20
473
287
12420
5 797
117
828
669
111.7
439 968
383 612
24789
25764
' 15 100
' 16 900
9680
1
(2)
25027
24 834
9717
do
sq ft
do
do
do
do
(2)
20
1 667
2
40
25
998
462
9
77
53
1 090
1 400
1 160
1 300
1 130
1 570
758
1 100
1 450
365
380
418
413
29
r
31
1874
2
42
22
1 134
542
10
62
61
1698
2
43
22
997
500
9
67
58
(4)
19
1 683
2
19
1 698
1
22
1 914
2
19
1 766
1
19
1 897
18
1 699
2
16
1 641
1
4
31
1 700
1
1 644
2
39
26
992
474
11
74
66
37
23
1 027
479
10
69
53
44
26
1 143
549
11
79
60
40
24
1 057
499
10
79
56
40
26
1 139
541
9
80
59
40
18
1 043
468
10
65
55
37
30
1 005
453
10
53
53
40
20
1 027
484
10
61
56
39
18
1 010
460
9
51
55
(2)
TEXTILE PRODUCTS
FABRIC
Woven fabric, finishing plants:
Production (finished fabric).
.. mil linear yd
Cotton
do
Manmade fiber and silk fabrics
do....
Inventories held at end of period . . .
do
Cotton
do
Manmade fiber and silk fabrics
do
Backlog of finishing orders
do
Cotton
do
Manmade fiber and silk fabrics
do
COTTON AND MANUFACTURES
Cotton (excluding linters):
Production:
Ginnings Q
thous running bales
Crop estimate .... thous net weight bales §
Consumption
thous. running bales..
Stocks in the United States, total, end of
period #
.
thous running bales
Domestic cotton total ...
..
do
On farms and in transit
do
Public storage and compresses
do....
Consuming establishments
do....
See footnotes at end of tables.
14 359
14760
7,446
14 986
15412
7,294
13 722
13 722
2 525
10,555
642
16 062
16062
1 957
13,524
581
662
433
804
14934
563
2 277
14709
3
676
6888
14714
454
11 698
14 837
509
14 276
15 197
5
554
554
570
6 567
6 567
761
5,073
733
5723
5723
300
4,714
709
18973
18973
13 974
4,348
651
18 122
18 122
12487
5,027
608
17 755
17 755
8 975
8,210
570
17 115
17 115
4 838
11,722
555
16062
16 062
1 957
13,524
581
14 809
14 809
1081
13,141
587
13 705
13705
1026
12,048
631
136
551
7 707
7707
968
5,987
752
3
3
734
611
631
12349
12349
993
10,734
622
10683
10683
707
9,353
623
9951
9951
1,076
8,229
646
3
791
Unless otherwise stated in footnotes
below, data through 1986 and
methodological notes are as shown in
BUSINESS STATISTICS: 1986
S-31
SURVEY OF CURRENT BUSINESS
July 1989
Annual
IT .,
Umts
1987
1989
1988
1988
June
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
May
Apr.
June
TEXTILE PRODUCTS—Continued
COTTON AND MANUFACTURES— Cont.
Cotton (excluding linters)— Continued
Exports
thous running bales
Imports
thous. net-weight bales §
Price(farm), American upland <)
cents per lb..
Price, Strict Low Middling, Grade 41, staple 34
(IVie"), average 10 markets
cents per lb..
Spindle activity (cotton system spindles):
Active spindles, last working
day, total .
mil
Consuming 100 percent cotton
do..
Spindle hours operated, all
fibers, total
bil
Average per working day
do
Consuming 100 percent cotton
do....
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly.).
. ..
mil sq yd
Orders, unfilled, end of period, compared
with average weekly production
no. weeks' prod...
Inventories, end of period, compared with
avg. weekly production . no weeks' prod
Ratio of stocks to unfilled orders (at cotton
mills), end of period
Exports, raw cotton equivalent
thous. net- weight bales §
Imports, raw cotton equivalent
do
Producer Price Index, gray cotton
broad wovens
.
1982—100
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other),
shipments, quarterly #
mil sq yds
APPAREL
Women's, misses', juniors' apparel cuttings: t
Coats
thous. units..
Dresses
do....
Suits (incl. pant suits, jumpsuits)
do....
Skirts
do....
Slacks, jeans, dungarees, and
jean-cut casual slacks
do
Blouses
thous. dozen..
See footnotes at end of tables.
56.5
51.3
52.2
53.4
11 6
46
11 5
44
11 5
43
60
299
2.2
*7 5
301
4
2.7
60
299
2.1
488
523
303
58.3
62.0
59.5
'53.9
52.6
64.4
61.6
62.9
57.4
55.2
11 6
46
11 5
44
Id7
46
11 7
46
11 7
46
829
319
qo 0
oZ.o
3
781
302
28.9
65
324
2.4
50
252
1.8
4772
2600
16172
1052
r3
r
4 518
2504
1 1468
5
114 4
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly:
2139
Acetate filament yarn
mil lb
191 1
Rayon staple, including tow
do
4138
3998
Noncellulosic, except textile glass:
Yarn and monofilaments
do
40097 4 1604
Staple, incl. tow
do
43062 43456
Textile glass fiber
do....
Fiber stocks, producers', end of period:
Acetate filament yarn
mil lb
142
11 4
Rayon staple, including tow
do.
207
140
Noncellulosic fiber, except textile glass:
Yarn and monofilaments.
do
2844
2984
Staple, incl. tow
do
2984
3196
Textile glass
fiber
do
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total
mil. sq. yd ..
Filament yarn (100%) fabrics
do....
Chiefly rayon and/or acetate
fabrics
do.
Chiefly nylon fabrics
do. .
Spun yarn (100%) fabrics
do....
Rayon and/or acetate fabrics, blends
do
Polyester blends with cotton
do.
Acetate filament and spun
yarn fabrics
do....
Producer Price Index, gray synthetic
5
broadwovens
1982 — 100
1127
1056
Manmade fiber textile trade:
Exports, manmade fiber equivalent
mil. Ibs
59187
68475
Yarn, tops, thread, cloth
do
26031
28219
Cloth, woven
do.
15265
16931
Manufactured prods., apparel,
furnishings
do....
331.56
402.56
Imports, manmade fiber equivalent
do. . 1 805 44 1 735 70
Yarn, tops, thread, cloth
do....
280.00
258.18
Cloth, woven
do ....
17923
182.52
Manufactured products, apparel,
furnishings
do
1,525 44 1 477 52
Apparel, total
do .... 1,033.22
991.03
Knit apparel
do
44303
48536
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
Apparel class..
mil lb
Carpet class
do
Wool imports, clean yield
do....
Duty-free
do
Wool prices, raw, shorn, clean basis, delivered
to U.S. mills:
Domestic— Graded territory, 64's, staple 2%"
and up
dollars per lb
Australian, 64's, Type 62, duty-paid
do
Wool broadwoven goods, exc. felts:
Production (qtrly.)
mil. sq. yd..
224
(i)
54.1
5 649
1
54.8
5 683
2
*63.7
1297
13 1
105.1
31 1
117 1
156
96.7
244
265
324
438
487
4
78
313
4
2.9
249
1 208
249
(i)
51.9
r
r
6
672
448
6
1
53.9
684
(i)
52.9
619
1
56.3
610
2
58.9
54.8
55.6
55.4
57.6
61.4
11 4
43
11 5
44
11 3
43
11 2
4.2
11 1
4.3
11 1
4.3
4.4
60
300
2.2
*63
251
4
2.2
58
288
2.1
59
293
2.2
58
291
2.2
2.3
111 0
1108
1100
112 1
1123
112 1
113 1
4
13 7
16
9.0
38
10 4
16
13.1
32
93
14
10.3
31
4 10
4 54
375
429
375
4 14
379
632
(i)
55.4
r
193
904
204
873
168
860
193
916
250
872
205
929
228
945
116 1
1159
1156
1148
111 9
1125
1123
289
2.6
4
"59.1
63.7
64.1
4.3
4
2.8
254
1094
1162
12
58.8
1 143
1 029
1 048
4
r
1124
111 3
1107
544
1012
549
994
55 5
926
527
1008
1 0624
1 1008
1 025 1
1 058 3
1 055 1
1 124 5
1 0580
1 103 6
124
134
11 5
133
11 4
140
113
117
313 1
3429
317 0
3290
2844
2984
2992
311 2
1122
113 0
113 4
113 8
113 0
113 5
113 9
114 6
64 49
2209
1348
5685
23 10
1289
5204
2080
12 19
57 52
2377
1425
5997
2395
1486
5674
2220
14 22
5677
23 63
14 88
5998
27 32
1564
39.40
14877
2340
1654
3375
171 32
2473
17 95
3123
16991
2300
1598
3375
17437
2266
1643
3602
14603
1873
1264
34 54
144 23
2220
1566
3314
13203
2044
13 64
3266
12337
18 60
1247
12536
8324
38 50
146 58
10325
50 58
14690
10481
5237
151 71
10693
5364
127 30
87 26
4330
12203
81 86
40 44
111 59
71 62
3272
10477
6571
2673
r
87
13
8.6
19
463
564
r4
12 1
4
12
7.4
24
r
460
513
450
489
91
11
7.7
23
rgg
r4
r
rg 3
33
19
92
10
67
22
450
461
4 63
4 88
4
450
467
l7
168.9
191.2
53.0
430
12632
12733
3390
23982
174,982
7,458
111,162
18,845
161,116
8,977
96,379
294,791
30595
278,567
33,604
'"1120
67
13
10 6
g
87
21
11 1
13
11.3
29
450
475
4 50
5 11
438
4 84
r4
475
472
95
16
5.0
19
114 3
ll 2
4
l0
10
86
20
r
4
447
466
329 1
304 3
3100
5,188
42,582
2,488
26,064
5273
36124
2,489
22,202
4663
37 138
2081
20,697
71,065
9010
72 112
7770
71 291
7799
365
403
S-32
SURVEY OF CURRENT BUSINESS
below, data through 1986 and
methodological notes are as shown in
IT ..
Unlts
1987
BUSINESS STATISTICS: 1986
July 1989
1989
1988
Annual
Unless otherwise stated in footnotes
1988
June
May
July
Aug.
Apr.
Jan.
Nov.
Oct.
Sept.
Dec.
27,475
96469
21652
25,120
Feb.
Mar.
29,503
29,183
29,277
7741
4
620
10162
15972
810
1320
616
570
721
512
209
r
654
585
887
642
246
r
71
28
606
545
754
554
201
9.9
r
70
28
June
May
TEXTILE PRODUCTS—Continued
APPAREL— Continued
Men's apparel cuttings: :|::j:
Suits
thous. units
Coats (separate), dress and sport
do
Trousers, slacks, jeans, pants, etc
do
Shirts, dress and sport
thous. doz.
Hosiery, shipments
thous. doz. pairs..
12 296
18,323
481 667
r7
r
83 756
308,982
13392
17392
430 448
85328
322,124
24,886
3182
4 144
114 658
22927
27,084
29,404
27,557
3463
4473
109 746
19 421
27,006
3537
4148
32,948
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly, total
mil. $.. 3 119,098
3
U.S. Government
do
64 892
3
Prime contract
do
115 298
Sales (net), receipts, or billings, quarterly,
3
total
do
109 053
3
U.S. Government .
do
67 680
3
Backlog of orders, end of period # ..
do
157 250
3
U.S. Government
do
91 436
3
Aircraft (complete) and parts
do
64 494
3
Engines (aircraft) and parts
do
15 521
Missiles, space vehicle systems, engines,
3
propulsion units, and parts
mil $
30 259
Other related operations (conversions, modi3
fications), products, services
mil $
16 527
Aircraft (complete):
Shipments
do
12 491 7 16019 9
Exports, commercial
do
9971
7380
MOTOR VEHICLES (NEW)
Passenger cars:
Factory sales (from U.S. plants):
Total... .
thous
Domestic
do
Retail sales, total, not seas, adj
do....
Domestics §
do
Imports §
do
Total, seas. adj. at annual rate
mil
Domestics §
do
Imports §
do
Retail inventories, domestics, end of period: §
Not seasonally adjusted
thous
Seasonally adjusted
do
Inventory-retail sales ratio, domestics §
Exports (BuCensus) total
To Canada
Imports (ITC), complete units
From Canada, total
do
do
do
do
5
7 085
5
6 487
10,278
7081
3197
do
Trucks and buses:
Factory sales (from U.S. plants):
Total ..
do
Domestic. .. .
do
Retail sales, domestics:
Total, not seasonally adjusted
do....
0-10,000 Ibs GVW
do
10,001 Ibs. GVW and over
do
Total, seasonally adjusted .
do
0-10,000 Ibs. GVW
do
10,001 Ibs. GVW and over
do....
Retail inventories, domestics, end of period: t
Not seasonally adjusted .
thous
Seasonally adjusted
do
Exports (BuCensus)
do
Imports (BuCensus), including separate
chassis and bodies..
do
Registrations 0, new vehicles, excluding buses
not produced on truck chassis
thous
Truck trailers and chassis, complete (excludes
detachables), shipments
number
Van type
do...
Trailer bodies (detachable), sold
separately
do
Trailer chassis (detachable), sold
separately
do
RAILROAD EQUIPMENT
Freight cars (new), for domestic use; all
railroads and private car lines (excludes
rebuilt cars and cars for export):
Shipments
number
Equipment manufacturers
do
New orders
do
Equipment manufacturers .
do
Unfilled orders, end of period
do...
Equipment manufacturers
do
Freight cars (revenue), class I railroads(AAR): :j:
Number owned, end of period
thous
Capacity (carrying), total, end of month
Average per car
See footnotes at end of tables.
tons
690
626
974
702
272
106
r
7 105
6437
10,639
7539
3,099
75
31
r
1680
1701
2.9
627 65
561 88
1,601
1619
2.6
765 12
61618
1595
1513
r
2.4
74 91
6412
4 5890
9269
44502
3789
1 1914
1 10 480
1149
1 10 igg
Imports, including domestically
sponsored
1 643 11 480 0 1 196 81 046 7 1 314 9 1 539 2 1 258 7 1 476 2
829
725
814
949
811
956
517
1063
'3 654
J
726
668
1,010
722
287
^109
9
78
ri>32
r9
1663
1549
9
2.4
67 33
52 51
3579
1213
484
442
886
603
283
105
386
347
863
605
258
106
r
l7
30
1431
1 448
r
2.3
43 93
3261
3047
r
618
556
830
579
251
102
T
74
31
r
l2
30
584
533
882
617
265
648
591
796
554
243
655
589
838
592
246
r
9.9
r
84
31
72
29
69
30
9.9
r
11.4
10.1
r
1,364.5
1,241
1,394.3
1,104
651
584
912
667
245
68
29
10.8
r
7.6
r
3.2
10.3
r
7.5
r
2.9
9.7
r
1,631
1,663
'2.8
68 50
4898
4092
101.0
1,601
1,619
2.3
5824
4061
4157
88.9
1,736
1,649
2.8
4
55 68
4
4014
4
324 8
*86.0
1,810
1,667
2.8
71 74
55.02
372.6
112.4
1,838
1,690
r
3.0
8294
65.69
374.7
99.9
1,836
1,702
r
2.7
8016
58.73
356.4
102.1
1,844
1,703
r
2.7
7137
52.26
1005
1,504
1,646
2.9
65 11
5011
4001
1015
1326
1492
2.4
46 11
1409
1566
'2.6
76 56
3944
3360
6592
3488
742
901
r
981
589
883
937
807
764
896
733
722
833
843
295
333
303
329
360
297
278
317
258
252
283
282
f
899
e
641
258
9.8
e9
9
7.0
C9
9
2.9
1,845
1,731
9
3.0
885
r
293
883
3710
(2)
672
618
973
710
262
(2)
6
3 821
6
4 121
3795
366
333
372
343
240
223
337
318
349
324
375
340
351
323
327
303
365
338
373
343
401
366
365
334
389
361
4,088.4
3786 1
3023
4,544.5
426.0
3958
426.9
3958
385.5
371.1
3437
346.4
359.2
3290
326.8
337.7
405.2
3756
398.9
368.6
367 3
3385
r
287
3721
342.6
r
29.4
300 1
26.7
r
3816
r
349.3
r
32.2
3131
24.6
3866
3573
r
292
371.0
3397
31 4
r
3845
r
3539
r
30.6
355.0
3280
31 1
r
368 2
r
3403
r
27.9
397.0
369.2
r
27.8
421.8
391.2
30.7
'362.6
r
334.0
r
28.6
389.4
359.1
30.3
9
351.9
9
324.2
9
27.6
10937
1,072.5
4
1,225.2
1,160.3
1,252.3
1,203.7
3 509
4 195 i
3487
302
r
r
967 9
10154
229 27
999 3
10416
24692
1 378 19 1 155 66
356 5
29 1
r
391 9
r
3630
r
28.9
317 3
290
274
r
389 0
r
361 2
r
279
r
r
270
r
r
3766
3461
r
30.5
30.1
r
r
9416
24 18
9496
851 6
9241
14 37
9247
8384
8952
9450
9723
9983
1,003.5
9993
1,041.6
22 14
17 20
21 53
21 80
1523
17 91
9081
10225
7899
75 16
7290
10983
97 20
107 89
9929
r
987 6
854 6
30.3
29.5
r
r
r
r
r
r
365.2
336.6
r
28.6
349.2
322.7
r
26.5
4
2160
1,197.1
1,130.0
2335
1,208.9
1,135.8
19 23
18.73
17.69
103 34
10192
10361
7634
89.64
1 170.5
1,109.9
*4 964
*5 211
437
487
442
444
470
410
398
445
371
374
428
427
446
180 142
135,380
176 158
127,534
14 619
10,226
15980
11,622
12694
15347
11,412
15845
11,990
15580
11,494
14500
10,888
14441
10,573
14 141
10,137
14223
10,559
16247
11,746
16,395
11,854
16,157
11,516
438
4931
462
619
673
670
922
310
483
526
23 014
32086
2 163
2620
2668
3 478
3 599
3209
3 001
1999
13 645
13645
18 504
18 504
6,736
6736
22 524
22 524
28 871
28871
15,953
15,953
749
725
738
735
733
728
726
724
724
725
723
721
721
715
714
63 63
8501
6246
63 10
8548
6287
8555
6271
6236
8569
6224
8578
62 15
8588
62 27
8605
6246
6234
86 16
62 26
86 34
61 81
8648
6177
86 17
62 19
86 24
86 17
8,714
4 598
4 598
9 131
9131
17,225
17225
1 789
1 857
16107
2180
r
2183
3,459
7838
7838
5,649
5,649
16,398
16,398
7 286
7 286
11 040
11040
19,707
19707
7 864
7 864
8044
8044
15,953
15 953
5605
5605
4487
4487
16,107
8560
(ii)
11
8652
S-33
SURVEY OF CURRENT BUSINESS
July 1989
FOOTNOTES FOR PAGES S-l THROUGH S-32
General Notes for all Pages:
r
p
e
c
Revised,
Preliminary,
Estimated,
Corrected.
Address requests for data to:
Business Statistics Branch
Current Business Analysis Division
Bureau of Economic Analysis
U.S. Department of Commerce
Washington, D.C. 20230
Page S-l
t Revised series. See Tables 2.6 - 2.9 in the July 1989 SURVEY for revised estimates for
1985-88.
$ Includes inventory valuation and capital consumption adjustments.
§ Monthly estimates equal the centered three-month average of personal saving as a
percentage of the centered three-month moving average of disposable personal income.
O See note "O" for p. S-2.
Page S-2
1. Based on data not seasonally adjusted.
O Effective Oct. 1987 SURVEY, the industrial production index has been revised back
to Jan. 1985. These revisions are available upon request.
# Includes data not shown separately.
$ Effective Sept. 1988 SURVEY, data have been revised back to January 1982. Revised
data appear in the report "Manufacturing and Trade Inventories and Sales" CB-88-146,
available from the Bureau of the Census, Washington, DC 20233.
§ Revised series. Data have been revised back to 1985. Revisions are available upon
request.
Page S-3
# Includes data for items not shown separately.
t Revised series. Data have been revised back to 1982. A detailed description of the
changes appear in the report "Manufacturers' Shipments, Inventories, and Orders: 1982-88"
M3-l(88), available from the Bureau of the Census, Washington, DC 20233.
$ See note "$" for p. S-2.
§ See note "§" for p. S-2.
Page S-4
1. Based on data not seasonally adjusted.
# Includes data for items not shown separately.
$ Includes textile mill products, leather and products, paper and allied products, and
printing and publishing industries; unfilled orders for other nondurable goods industries
are zero.
<0> For these industries (food and kindred products, tobacco, apparel and other textile
products, petroleum and coal, chemicals and allied products, and rubber and plastics products)
sales are considered equal to new orders.
t See note "t" for p. S-3.
Page S-5
@ Compiled by Dun & Bradstreet, Inc.
# Includes data for items not shown separately.
§ Ratio of prices received to prices paid (parity index).
| See note "$" for p. S-4.
t In the Feb. and July issues of the SURVEY each year, data for the most recent six to
eight years are subject to revise and are available upon request.
O See note "t" for p. S-6.
ft See note "t" for p. S-3.
Page S-6
§ Effective with the release of the January 1988 index, all producer price indexes previously
expressed on a base of 1967=100, or any other base through December 1981, have been
rebased to 1982=100. Historical data on the new base are available upon request. For
producer price indexes of individual commodities, see respective commodities in the Industry
section beginning p. S-l9. All indexes subject to revision four months after original publication.
# Includes data for items not shown separately.
t Effective with the release of the January 1988 index, all consumer price indexes previously
expressed on a base of 1967 = 100, or any other base through December 1981, have been
rebased to 1982-84=100. Historical data on the new base are available upon request. Beginning
with January 1987, data are calculated using 1982-84 expenditure patterns and updated
population weights. Additional information regarding these changes is available from the
Bureau of Labor Statistics, Washington, DC 20212.
$ Effective with the Feb. 1989 SURVEY, data have been revised back to 1984 and are
available upon request.
Page S-7
1. Computed from cumulative valuation total.
2. Index as of July 1, 1989: building, 389.4; construction, 428.0.
# Includes data for items not shown separately.
§ Data for June, Sept., and Dec. 1988, and Mar. 1989 are for five weeks; other months
four weeks.
O Effective Feb. 1989 SURVEY, data for seasonally adjusted housing starts have been
revised back to 1986. Effective Feb. 1988 SURVEY, data for seasonally adjusted housing
starts have been revised back to 1985.These revisions are available upon request.
t Effective May 1989 SURVEY, data for seasonally adjusted building permits have been
revised back to 1987. Effective May 1988 SURVEY, data for seasonally adjusted building
permits have been revised back to Jan. 1986. These revisions are available upon request.
@ Effective July 1989 SURVEY, data have been revised back to 1985. In addition to the
normal revisions to the unadjusted and seasonally adjusted data, some total components
have been revised back to 1975 due to revised data for the "Telecommunications" category.
See note "*" for this page. Effective July 1988 SURVEY, the "Improvements" component
of private residential buildings has been revised back to 1982 to adjust for a change in
estimation of the monthly data. Revised data are available from the Construction Statistics
Division at the Bureau of the Census, Washington, DC 20233.
$ Effective July 1989 SURVEY, data have been revised back to 1975 and are available
upon request.
* The Telephone and telegraph" category has been renamed "Telecommunications"
and now includes estimates for television cable construction. Data were revised back to
1975.
Page S-8
1. Advance estimate.
O Home mortgage rates (conventional first mortgages) are under money and interest
rates on p. S-l4.
§ Data include guaranteed direct loans sold.
# Includes data for items not shown separately.
@ Effective Oct. 1987 SURVEY, data are for mortgage loans closed as FSLIC-insured
institutions. Historical data back to 1976 are available upon request.
t Effective April 1989 SURVEY, wholesale trade data have been revised back to Jan.
1983. Revised data and a summary of changes appear in the report. Revised Monthly Wholesale
Trade Sales and Inventories BW-13-88S, available from the Bureau of the Census, Washington, DC 20233.
$ Effective April 1989 SURVEY, retail trade data have been revised. Estimates of retail
sales and inventories have been revised back to January 1983. A revision in 1988 revised
some series back to 1978. Revised data and a summary of changes appear in the report
Revised Monthly Retail Sales and Inventories BR88-R, available from the Bureau of the
Census, Washington, DC 20233.
tt Beginning with data for 1988, data will be reported on a quarterly basis only.
Page S-9
1. Advance estimate.
# Includes data for items not shown separately.
O Effective with the January 1989 SURVEY, the seasonally adjusted labor force series
have been revised back to January 1984. The January 1989 issue of Employment and Earnings contains the new seasonal adjustment factors, a description of the current methodology, and
revised data for the most recent 13 months or calendar quarters. Revised monthly data for
the entire 1984-88 revision period are in the February 1989 issue of Employment and Earnings.
t The participation rate is the percent of the civilian noninstitutional population in the
civilian labor force. The employment-population ratio is civilian employment as a percent
of the civilian noninstitutional population, 16 years and over.
@ Data include resident armed forces.
$ See note "$" for p. S-8.
Page S-10
O See note "O" for p. S-9.
§ Effective with the June 1988 and 1989 issues of the SURVEY, data have been revised,
respectively, back thru April 1987 and 1988 (not seasonally adjusted) and January 1984
and 1985 (seasonally adjusted) to reflect new benchmarks and seasonally adjustments factors. The June issue of Employment and Earnings (for both years) contains a detailed discussion of the effects of these revisions.
Page S-l 1
$ This series is not seasonally adjusted because the seasonal component is small relative
to the trend-cycle and/or irregular components and consequently cannot be separated with
sufficient precision.
O Production and nonsupervisory workers.
§ See note"§" for p. S-10.
Page S-12
1. This series is not seasonally adjusted because the seasonal component is small relative
to the trend-cycle and/or irregular components and consequently cannot be separated with
sufficient precision. Use the corresponding unadjusted series.
2. The hourly earnings index has been discontinued.
§ See note "§" for p. S-10.
O Production and nonsupervisory workers.
$ Earnings in 1977 dollars reflect changes in purchasing power since 1977 by dividing by
Consumer Price Index. Effective Feb. 1988 SURVEY, this series has been revised back to
1983 to reflect new seasonal factors for the CPI-W. Revised data are available upon request.
§§ Wages as of July 1, 1989: Common, $17.74; Skilled, $23.12.
t Excludes farm, household, and Federal workers.
$$ See note "$" for p. S-ll.
S-34
SURVEY OF CURRENT BUSINESS
July 1989
Page S-13
1. Beginning with Jan. 1988 data, the number of respondents in the bankers acceptance
survey was reduced from 155 to 111 institutions—those with $100 million or more in total
acceptances. The new reporting group accounts for over 90 percent of total acceptances
activity.
2. Effective December 31, 1987, eight brokers and dealers in commercial paper were
added to the reporting panel resulting in a series break. End of month figures on the old basis
are as follows: All issuers, 352,915; financial companies, 275,907; dealer placed, 103,667;
directly placed, 172,240; and nonfinancial companies, 77,008.
3. Average for Dec.
4. Pursuant to the 1987 Agricultural Credit Act, the FICBs merged with the FLBs on
July 6, 1988. Third and fourth quarter loans for the combined FLBs, FLBAs, FICBs, and
PC As are $42,849 million and $41,438 million respectively.
5. Effective Feb. 28, 1989, there was a break in the series due to the enlargement of the
panel of reporting dealers to 17 and of reporting direct issuers to 36. End of month figures on
the old basis are as follows: All issuers, 481,734; financial companies, 373,717; dealer placed,
172,330; directly placed, 201,387; and nonfinancial companies, 108,017.
t Effective Aug. 1988 SURVEY, free reserves have been restated to correspond with the
Federal Reserve's computation, which is as follows: excess reserves, minus borrowings, plus
extended credit. Historical data back to 1961 are available upon request.
$ Effective Jan. 1988, series revised due to changes in the panel of reporting banks. The
new reporting panel of 168 banks accounts for about 52 percent of total assets in U.S. offices
of domestically-chartered banks. Back data have been estimated for the years 1984-87.
# Includes data for items not shown separately.
tt "Transaction balances other than demand deposits" consists of ATS, NOW, super
NOW, and telephone transfer accounts.
§ Excludes loans and federal funds transactions with domestic commercial banks and
includes valuation reserves (individual loan items are shown gross; i.e., before deduction of
valuation reserves).
# New series. Source: The Employment and Training Administration. Covers 50 States
and the District of Columbia. Only regular benefits are included.
@ Average weekly insured unemployment for 12-month period divided by average monthly
covered employment (lagging 4 full quarters for annual figure and 2 full quarters for monthly
figure).
** Effective Aug. 1987 SURVEY, data are provided by the Farm Credit Corporation of
America on a quarterly basis. Quarterly data are available back to first quarter 1985, with
annual data available back to 1961.
Page S-14
1. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the
months.
2. Weighted by number of loans.
3. Beginning Feb. 1988, data temporarily suspended by the Farm Credit Administration, which is revising the information it collects and amending the reports it distributes.
§ Effective Apr. 1989 SURVEY, data have been revised to reflect new benchmark and
seasonal adjustments. These revisions are available upon request.
t Effective with May 1989 SURVEY,'the consumer installment credit series have been
revised from 1986 through 1988 to reflect more complete data for most lender groups and
new seasonal factors. Effective Apr. 1988 SURVEY, the consumer installment credit series
have been revised back to Jan. 1980 to reflect newly available historical information and to
incorporate new seasonal factors. These revisions are available upon request.
# Includes data for items not shown separately.
O Adjusted to exclude domestic commercial interbank loans and federal funds sold to
domestic commercial banks.
$ Rates on the commercial paper placed for firms whose bond rating is Aa or the equivalent.
$$ Courtesy of Metals Week.
@@ Average effective rate
@ Revised for periods between October 1986 and February 1987. During this interval,
outstanding gold certificates were inadvertently in excess of the gold stock.
Page S-15
1. Beginning in the first quarter 1987, the universe of manufacturing corporations was
redefined to exclude corporations with less than $250,000 in assets at the time of sample
selection.
2. Beginning Jan. 1989, the primary public offering statistics have been discontinued by
the Securities and Exchange Commission.
t Effective Feb. 1989 SURVEY, the money stock measures and components have been
revised and are available from the Banking Section of the Division of Research and Statistics at the Federal Reserve Board, Washington, D.C. 20551.
$$ Includes ATS and NOW balances at all depository institutions, credit union share
draft balances, and demand deposits at thrift institutions.
O Overnight (and continuing contract) RP's are those issued by commercial banks to
the nonbank public, and overnight Eurodollars are those issued by Caribbean branches of
member banks to U.S. nonbank customers.
@ Small time deposits are those issued in amounts of less than $100,000. Large time
deposits are those issued in amounts of $100,000 or more and are net of the holdings of
domestic banks, thrift institutions, the U.S. Government, money market mutual funds, and
foreign banks and official institutions.
# Includes data for items not shown separately.
§ Effective with the Mar. 1989 SURVEY, data have been revised back to 1986 and are
available upon request. Effective Apr. 1988 SURVEY, 1987 data have been revised. Revisions for
Jan. 1987: long-term, 7,486; short-term, 372.
Page S-16
@ See note "4" for p. S-19 regarding the new commodity classification systems introduced Jan. 1989. Effective with the July 1989 SURVEY, data have been revised back to Jan.
1987 for seas. adj. total exports and imports, and back to Jan. 1988 for unadj. totals. Revised
data for principal SITC commodity groupings and selected countries will be available later.
Effective with the June 1988 SURVEY, total exports and imports have been revised back to
Jan. 1986. These revisions are available upon request. Data may not equal the sum of the
geographic regions, or commodity groups and principal commodities, because the revisions
to the totals are not reflected in the component items.
t Effective with the June 1988 SURVEY, seasonal adjustment of exports and imports
was reintroduced. The monthly data were last adjusted for December 1985. Historical data
from Jan. 1986 forward are available upon request.
§ Number of issues represents number currently used; the change in number does not
affect the continuity of the series.
$ For bonds due or callable in 10 years or more.
# Includes data for items not shown separately.
# Series added to the S-pages in May 1989.
Page S-17
1. Beginning with Jan. 1989 data, undocumented exports to Canada are now included,
resulting in a break with Dec. 1988 data.
2. Beginning Jan. 1989, buses are excluded from "Motor vehicles and parts" and included in
"Other manufactured goods," resulting in a break with Dec. 1988 data.
@ See note "@" for p. S-16.
t See note "t" for p. S-16.
# Includes data not shown separately.
O Data include undocumented exports to Canada, which are based on official Canadian
import totals.
# Series added to the S-pages in May 1989.
Page S-18
1. Reported annual total; quarterly or monthly revisions are not available.
2. For month shown.
# Includes data for items not shown separately.
§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled
service.
# Data have been revised back to 1981. They now include commuter railroads and small
transit systems. Revised data are available upon request.
$ The threshold for Class I railroad status is adjusted annually by the Interstate Commerce Commission to compensate for inflation.
O Average daily rent per room occupied, not scheduled rates.
## Data represent entries to a national park for recreational use of the park, its services,
conveniences, and/or facilities.
t Before extraordinary and prior period items.
@ Changes in these unit value indexes may reflect changes in quality or product mix as
well as price changes.
Page S-19
1. Reported annual total; monthly or quarterly revisions are not available.
2. Less than 500 metric tons.
3. Figure is being suppressed because of not meeting Bureau of Census' publication
standards.
4. Effective with the Apr. and May 1989 issues of the SURVEY, most foreign trade series
in the "S-Pages" have been converted to metric units. Also, beginning with 1989 data,
merchandise trade data are based upon two new commodity classification systems; the
International Harmonized System and, Revision 3 of the Standard International Trade
Classification and, as a result, data may not be directly comparable to 1988 and earlier
years.
5. Effective with the July 1989 SURVEY, data are shown in metric tons.
# Includes data for items not shown separately.
§ Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
$ Data for 1985-86 (and 1984, for inorganic chemical production items) have been revised.
Effective with the Jan. 1989 SURVEY, series for industrial gases have been revised for 1986
and 1987. Effective with the Feb. 1989 SURVEY, series for inorganic chemicals and fertilizer materials have been revised for 1986 and 1987. These revisions are available upon
request.
O Beginning January, 1986, data are not directly comparable to earlier periods because
the data represent only companies that have annual revenues over $100 million.
Page S-20
1. Reported annual total; monthly or quarterly revisions are not available.
2. Quarterly data are no longer available. See also note 4 for this page.
3. See note 4 for p. S-19.
4. Effective with the July 1989 SURVEY, data are shown in metric tons.
§ Data are not wholly comparable from year to year because of changes from one classification to another.
O Effective with the Jan. 1989 SURVEY, data for 1986 and 1987 have been revised and
are available upon request.
@ Includes less than 500 electric generation customers not shown separately.
t Effective with the May 1988 SURVEY, data have been revised back to 1985 and are
available upon request.
$ Effective with the Apr. 1989 SURVEY, data have been revised back to 1983 and are
available upon request.
Page S-21
1. Previous year's crop. New crop is not reported until Sept. (crop year: Sept. 1-Aug. 31).
2. Crop estimate for the year. See also note 13 for this page.
3. Stocks as of June 1.
4. Stocks as of June 1 and represents previous year's crop; new crop not reported until
June (beginning of new crop year).
5. Beginning with Sept. 1, 1988 data, quarterly stock estimates have been reinstated.
6. Stock estimates are available once a year as June 1 stocks and shown here in the May
column and (as previous year's crop) in the annual column. See also note 13 for this page.
7. Stocks as of Dec. 1.
8. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
9. Prices are no longer available.
10. Based on quotations for fewer than 12 months.
11. See note 4 for p. S-19.
12. Series has been discontinued.
13. Effective with the May 1989 SURVEY, data have been converted to metric units.
14. July 1 estimate of the 1989 crop. See also note 13 for this page.
§ Excludes pearl barley.
@ Quarterly data represent the 3-month periods Dec.-Feb., Mar.-May, June-Aug.,
and Sept. -Nov. Annual data represent Dec.-Nov.
t Coverage for 21 selected States, representing approximately 85 percent of U.S. production.
Page S-22
1. Monthly quotation not available.
2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
3. See note "t" for this page.
4. See note "$" for this page.
5. Series has been discontinued by the source.
6. See note 4 for p. S-19.
$ Beginning with Sept. 1988 and annual 1988 data, price represents dollars per head and
is not comparable with earlier prices, which represent dollars per 100 pounds.
t Effective with the release of 1st Qtr. 1988 data, the import price index for coffee has
been discontinued by BLS and replaced in the SURVEY with the import price index for
coffee and coffee substitutes. The weighting structure used for the import price index reflects
U.S. foreign trade flows based on 1985 data. Indexes, beginning with 2nd Qtr. 1975, are
available upon request.
Page S-23
1. Crop estimate for the year.
2. Reported annual total; revisions not distributed to the months.
3. Data suppressed because they did not meet publication standards of the Bureau of
the Census.
4. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
5. See note 4 for p. S-19.
# Totals include data for items not shown separately.
O Effective Oct. 1988 SURVEY, the footwear production series have been revised for
1986 and 1987. These revisions are available upon request.
Page S-24
1. Reported annual total; monthly revisions are not available.
2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
3. Less than 500 tons.
4. See note 4 for p. S-19.
5. Effective with the July 1989 SURVEY, data have been converted to metric tons.
# New series from the American Metal Market. The composite scrap price represents
the average of consumers' buying prices, delivered, at the following markets: Chicago,
Pittsburgh, and Philadelphia. Annual and monthly composite price data are available back
to January 1982.
Page S-25
1. Reported annual total; monthly revisions are not available.
2. For month shown.
3. Effective with Jan. 1989, import data are for consumption; earlier periods of data are
general imports. See also note 4 for p. S-19 regarding the introduction of new classification
systems.
4. Prior to the July 1989 SURVEY, annual and monthly data for 1984-88 for aluminum
imports and exports were shown incorrectly in thousands of short tons. Beginning with the
July 1989 SURVEY, data for those periods have been converted to thousands of metric tons.
@ Beginning 1987, includes foreign ores.
t Beginning January 1982, data represent metallic (mostly aluminum) content. Data for
1981 and prior years represent aluminum content only.
O The source for these series is now the Bureau of Mines.
§ Source: Metals Week.
Page S-26
1. Reported annual total; monthly revisions are not available.
2. Less than 50 tons.
3. See note 3 for p. S-25.
O Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.
@ All data (except annual production figures) reflect GSA remelted zinc and zinc purchased
for direct shipment.
$ Source for monthly data: American Bureau of Metal Statistics. Source for annual
data: Bureau of Mines.
# Includes data not shown separately.
§ Beginning with the Aug. 1985 SURVEY, unadjusted fluid power shipments indexes are
shown. Seasonally adjusted indexes are no longer available.
# New series from The Material Handling Institute, Inc. and Cahners Economics. Includes
bookings (new orders) for automatic guided vehicles, automated storage and retrieval systems, below hook lifters, cranes, hoists, monorails, racks, shelving, casters and floor trucks,
and conveyors. Annual and quarterly historical data back to 1972 are available upon request.
@@ Beginning Oct. 1986, the Lead price represents North American Mean.
Page S-27
1. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
2. Beginning January 1986, data have been restated because a new methodology has
been adopted. Annual total for 1987 contains revisions not allocated to the months.
3. Annual total includes revisions not distributed to the months.
4. See note 4 for p. S-19.
# Includes data for items not shown separately.
§ Includes nonmarketable catalyst coke. See also note "ff'for this page.
O Includes small amounts of "other hydrocarbons and alcohol new supply (field
production)," not shown separately.
t Effective with the Oct. 1987 SURVEY, coal production data for 1986 have been revised.
Effective with the May 1988 SURVEY, coal consumption and stocks back through 1986
S-35
SURVEY OF CURRENT BUSINESS
July 1989
have been revised. Effective with the Oct. 1988 SURVEY, coal production data for 1987
have been revised. These revisions are available upon request.
@ Includes U.S. produced and imported microwave ovens and combination microwave
oven/ranges.
t "Tractor shovel loaders" includes some front engine mount wheel tractors that had
previously been included in "Tractors, wheel, farm, and nonfarm."
ft Effective with the June 1988 SURVEY, data for 1987 have been revised and are available upon request.
$$ March, June, September and December are five-week months. All others consist of
four weeks.
Page S-28
1. Reported annual total; revisions not allocated to the months.
2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
3. See note 4 for p. S-19.
# Includes data for items not shown separately.
t Except for price data, see note "tt" for p. S-27.
Page S-29
1. Reported annual total; revisions not allocated to the months.
2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
3. See note 4 for p. S-19.
O Source: American Paper Institute. Total U.S. estimated consumption by all newspaper
users.
# Compiled by the American Newspaper Publishers Association.
f Effective with the April 1988 SURVEY, the import price index for natural rubber has
been revised. The index is now expressed on a base of 1985 = 100. Also new weights based on
1985 trade flows have been applied to all data from 1985 onward. Revised data are available
back to 4th qtr. 1983.
Page S-30
1. Reported annual total; revisions not allocated to the months.
2. Data are being withheld to avoid disclosing data from individual firms.
3. Data cover five weeks; other months, four weeks.
4. Beginning Jan. 1989, sales of industrial plasters are included with those of building
plasters.
# Includes data for items not shown separately.
O Cumulative ginnings to the end of month indicated.
§ Bales of 480 Ibs.
t Data for 1987 have been revised and are available upon request.
Page S-31
1. Less than 500 bales.
2. Annual total includes revisions not distributed to the months.
3. Average for crop year; Aug. 1-Jul. 31.
4. For five weeks; other months four weeks.
5. See note "§" for p. S-6 regarding a change to a new reference base in 1988.
6. See note 4 for p. S-19.
O Based on 480-lb. bales, preliminary price reflects sales as of the 15th; revised price
reflects total quantity purchased and dollars paid for the entire month (revised price includes
discounts and premiums).
# Beginning 1st Qtr. 1986; quarterly data are estimated by the American Textile
Manufacturers Institute based on annual data collected by the Bureau of Census.
§ Bales of 480 Ibs..
t Beginning 1st Qtr. 1987, data are not comparable with earlier periods. Girls apparel
are now included with women's, misses' and juniors' and boys' apparel are now included
with men's. Also, some classification changes were made.
Page S-32
1. Annual total includes revisions not distributed to the months.
2. Production of new vehicles (thous. of units) for June 1989: passenger cars, 612; trucks
and buses, 375.
3. Data are reported on an annual basis only.
4. See note 4 for p. S-19.
5. Beginning with January 1987, data include Honda, Nissan, and Toyota passenger cars
produced in U.S. plants.
6. Beginning with January 1987, data include Nissan trucks produced in U.S. plants.
7. Beginning with 1st qtr. 1987, jeans, jean-cut casual and dungarees are included with
trousers.
8. See note "t" for this page.
9. Effective with the July 1988 and 1989 issues of the SURVEY, data have been revised
back thru 1985 and 1986, respectively, and are available upon request.
10. Data for jumpers are included with dresses to avoid disclosing information for individual companies.
11. Beginning Jan. 1989, shipments of trailer bodies are included with trailer chassis to
avoid disclosure of data from individual firms.
# Total includes backlog for nonrelated products and services and basic research.
§ Domestics comprise all cars assembled in the U.S. and cars assembled in Canada and
imported to the U.S. under the provisions of the Automotive Products Trade Act of 1965.
Imports comprise all other cars.
<> Courtesy of R.L. Polk & Co.; republication prohibited. Because data for some states
are not available, month-to-month comparisons are not strictly valid.
t Excludes railroad-owned private refrigerator cars and private line cars.
t Effective with the Mar. 1988 SURVEY, retail inventories for trucks and buses have
been restated to exclude captive imports (vehicles manufactured overseas by U.S. affiliates). These data are available back through 1966.
$t See note "t" for page S-31.
July 1989
SURVEY OF CURRENT BUSINESS
S-36
Index to Current Business Statistics
Sections
General:
Business indicators
Commodity prices
Construction and real estate .
Domestic trade .
Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communication
9-13
13-16
16-18
18,19
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products
Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
Rubber and rubber products
Stone, day, and glass products
Textile products ..,
Transportation equipment
19,20
20
20-23
23
23,24
24-27
27, 28
28, 29
29
30
30-32
32
Footnotes..
32-35
1-5
5, 6
7,8
8,9
Individual Series
Advertising
Aerospace vehicles..
Agricultural loans
Air carrier operations.
Air conditioners (room) .
Aircraft and parts
Alcohol, denatured and etiiyl
Alcoholic beverages
Aluminum
Apparel
Asphalt
Automobiles, etc
8, 12
32
13
18
27
4, 5, 32
19
8,20
25
2, 4-6, 8-12, 31, 32
28
2-4, 6, 8, 9, 14,15,17, 32
Banking
Barley
Battery shipments
Beef and veal
Beverages
Blast furnaces, steel mills
Bonds, issued, prices, sales yields
Brass and bronze
Brick
Building and construction materials
Building costs
Building permits
Business incorporation (new), failures
Business sales and inventories
Butter
13,14
21
27
22
8,17,20
3-5
15,16
26
30
2,4, 5
7
7
5
2,3
21
31
Carpets ........ .
Cattle and calves
22
30
Cement
..............
.
9
Chain-store sales, firms with 1 1 or more stores
Cheese .......................................
21
Chemicals
.........................
2-4, 10-12, 15, 17, 19, 20
Cigarettes and cigars
.............................
23
Clay products
..................................
2-4, 30
Clothing (see apparel)
Coal
.........................................
2, 27
Cocoa
.......................................
22
Coffee
.......................................
22
Coke
........................................
27
Combustion, atmosphere, heating equipment
.............
26
Communication
.................................
15, 19
Construction:
Contracts
...................................
7
Costs
......................................
7
Employment, unemployment, hours, earnings
...........
10-12
Housing starts
................................
7
New construction put in place
......................
7
Consumer credit
.................................
14
Consumer goods output, index
.......................
1,2
Consumer Price Index
.............................
5. 6
Copper and copper products
........................
25, 26
Corn
.........................................
21
Cost of living (see Consumer Price Index)
...............
5, 6
Cotton, raw and manufactures
........................
5, 30, 31
Credit, commercial bank, consumer
....................
14
Crops
......................................
5, 21-23, 30
Crude oil
......................................
3, 27
Currency in circulation
.............................
15
Dairy products
....................
.
.............
Debt, U.S. Government
............................
Deflator, PCE
..................................
Department stores, sales, inventories
...................
Deposits, bank
..................................
Dishwashers and disposers
.........................
5, 2V
14
1
9
13, 15
27
1
Disposition of personal income .
Distilled spirits
Dividend payments
Drugstores, sales
20
1,15
Earnings, weekly and hourly
Eating and drinking places
Eggs and poultry
Electric power
Electrical machinery and equipment
Employee-hours, aggregate, and indexes
Employment and employment cost
Exports (see also individual commodities)
12
8, 9
5, 22
2, 20
2-5,10-12,15, 27
11
10-12
16-18
Failures, industrial and commercial
5
Farm prices
5,6
Fats and oils
17
Federal Government finance
14
Federal Reserve System
13
Federal Reserve member banks
13
Fertilizers
19
Fish
22
Flooring, hardwood
24
Hour, wheat
22
Ruid power products
26
Food products
2-6, 8,10-12,15,17,20-23
Foreign trade (see also individual commod.)
16-.18
Freight cars (equipment)
32
Fruits and vegetables
5
Fuel oil
6, 28
Fuels
2, 6,17, 27, 28
Furnaces
27
Furniture
2, 6, 8-12
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gypsum and products
Hardware stores
Heating equipment
Helpwanted advertising index
Hides and skins
2,6,20
28
30
19
14
5,21, 22
9
30
'.'.'.'.'.'.'.'.'.'.'.'.'.'.'.'.'.'
Home loan banks, outstanding advances
Home mortgages
Hotels, motor hotels, and economy hotels
Hours, average weekly
Housefurnishings
Household appliances, radios, and television sets
Housing starts and permits
Imports (see also individual commodities)
Income, personal
Income and employment tax receipts
Industrial production indexes:
By industry
By market grouping
Installment credit
Instruments and related products
Interest and money rates
Inventories, manufacturers' and trade
Inventory-sales ratios
Iron and steel
8
26
12
6
22
8
8
18
11
2,4-6,8, 9
27
7
17,18
1
14
1,2
1,2
14
2-4,10-12
14
3,4, 8,9
3
2,15, 24, 25
Laborforce
9,10
Lamb and mutton
22
Lead
26
Leather and products
2, 6,10-12,23
Livestock
5,22
Loans, real estate, agricultural, bank (see also Consumer credit)
8,13
Lubricants
28
Lumber and products
2,6,10-12,23,24
Machine tools
26
Machinery
2-6,10-12,15,17, 26, 27
Manufacturers' sales (or shipments), inventories, orders
3-5
Manufacturing employment, unemployment, production workers,
hours, earnings
10-12
Manufacturing production indexes
1,2
Meat animals and meats
5, 22
Medical care
6
Metals
2-6, 10-12, 15, 24-26
Milk
21
Mining
2,10-12
Mobile homes, shipments, installment credit
7,14
Monetary statistics
15
Money and interest rates
14
Money supply
15
Mortgage applications, loans, rates
8,13,14
Motor carriers
18
Motor vehides
2-4, 6, 8, 9,15,17, 32
National parks, visits
Newsprint
New York Stock Exchange, selected data
Nonferrous metals
Oats
Oils and fats
Orders, new and unfilled, manufacturers'
Outlays, U.S. Government
18
29
16
2, 4,5,15,25,26
21
17
4,5
14
Paint and paint materials
20
Paper and products and pulp
2-4, 6,10-12,15,28,29
Parity ratio
5
Passenger cars
2-4, 6, 8,9,15,17,32
Passports issued
18
Personal consumption expenditures
,
1
Personal income
1
Personal outlays
1
Petroleum and products
2-4,10-12,15,17, 27, 28
Pig iron
24
Plastics and resin materials
20
Population
9
Pork
22
Poultry and eggs
5, 22
Price deflator, implicit (PCE)
1
Prices (see also individual commodities)
5,6
Printing and publishing
2,10-12
Private sector employment, hours, earnings
10-12
Producer Price Indexes (see also individual commodities)
6
Profits, corporate
15
Public utilities
1, 2, 7,15,16, 20
Pulp and pulpwood
28
Purchasing power of the dollar
6
Radio and television
Railroads
Ranges and microwave ovens
Rayon and acetate
Real estate
Receipts, U.S. Government
Refrigerators
Registrations (new vehicles)
Rent (housing)
Retail trade
Rice
Rubber and products find, plastics)
Saving, personal
Savings deposits
Savings institutions
Securities issued
Security markets
Services
Sheep and lambs
Shoes and other footwear
Silver
Spindle activity, cotton
Steel and steel manufactures
Stock market customer financing
Stock prices, yields, sales, etc
Stone, day, glass products
Sugar
Sulfur
Sulfuric add
Superphosphate
Synthetic textile products
Tea imports
Telephone carriers
Television and radio
Textiles and products
Tin
Tires and inner tubes
Tobacco and manufactures
Tractors
Trade (retail and wholesale)
Transit lines, urban
Transportation
Transportation equipment
Travel
Trucktrailers
Trucks
8,27
13,16,18, 32
27
31
,
8,13
14
27
32
6
2,3,5, 8-12,14,32
21
2-4,6,10-12, 29
1
13
8,14
15
15,16.
6,10-12
22
23
14
31
24,25
15
16
2-4,10-12,15, 30
23
19
19
19
31
23
19
27
2-4,10-12,15,30-32
26
29
2-4,10-12,23
27
2, 3, 5,8-12,32
18
6,10-12,15,16,18
2-6,10-12,15,17, 32
18
32
2,32
;
Unemployment and insurance
U.S. Government bonds
U.S. Government finance
Utilities
Vacuum cleaners
Variety stores
Vegetables and fruits
9,10,13
16
15
2, 6, 7,15,16, 20
27
9
5
Wages and salaries
Washers and dryers
Water heaters
Wheat and wheatflour
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc
1,12
27
27
21,22
2,3, 5, 8,10-12
28
31
26
BE A Inf onnation
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in A U$er*s Guide to BEA Information. For a copy, send a self-addressed stamped
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SUEVEY OF CXJKHENT BUSINESS. Contains estimates and analyses of U,S<
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Business Statistics; 1986, (1987) Provides monthly or quarterly data
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The National Income and Product Accounts of the United
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BEA Methodology Paper No. 1: Introduction to National Economic Accounting* (1985) Introduces the concepts of the national
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1989 RELEASE DATES FOR BEA ESTIMATES
Subject
State Personal Income, 3d quarter 1988
Gross National Product, 4th quarter 1988 (advance)..
Personal Income and Outlays, December 1988
Release
Date*
Jan.
Jan.
Jan.
24
27
30
Composite Indexes of Leading, Coincident, and Lagging Indica- Feb.
tors, December 1988.
Gross National Product, 4th quarter 1988 (preliminary)
Feb.
Merchandise Trade (balance of payments basis), 4th quarter 1988.... Feb.
1
Personal Income and Outlays, January 1989
Mar.
Composite Indexes of Leading, Coincident, and Lagging Indica- Mar.
tors, January 1989.
Summary of International Transactions, 4th quarter 1988
Mar.
Gross National Product, 4th quarter 1988 (final)
Mar.
Corporate Profits, 4th quarter 1988
Mar.
Personal Income and Outlays, February 1989
Mar.
Composite Indexes of Leading, Coincident, and Lagging Indica- Mar.
tors, February 1989.
28
28
14
23
23
24
29
Subject
State Personal Income, 1st quarter 1989
Gross National Product, 2d quarter 1989 (advance)
Personal Income and Outlays, June 1989
Release
Date*
July
July
July
20
27
28
Composite Indexes of Leading, Coincident, and Lagging Indica- Aug. 3
tors, June 1989.
State Per Capita Personal Income, 1988 (revised)
Aug. 23
Merchandise Trade (balance of payments basis), 2d quarter 1989
Aug. 28
Gross National Product, 2d quarter 1989 (preliminary)
Aug. 29
Corporate Profits, 2d quarter 1989
Aug. 29
Personal Income and Outlays, July 1989
Aug. 30
Composite Indexes of Leading, Coincident, and Lagging Indica- Sept. 1
tors, July 1989.
Sept. 12
Summary of International Transactions, 2d quarter 1989
Sept. 21
Gross National Product, 2d quarter 1989 (final)
Sept. 21
Corporate Profits, 2d quarter 1989 (revised)
Sept. 22
Personal Income and Outlays, August 1989
Composite Indexes of Leading, Coincident, and Lagging Indica- Sept. 29
tors, August 1989.
State Personal Income, 4th quarter 1988 and Per Capita Personal
Income, 1988 (preliminary).
Gross National Product, 1st quarter 1989 (advance)
Corporate Profits, 4th quarter 1988 (revised)
Personal Income and Outlays, March 1989
Composite Indexes of Leading, Coincident, and Lagging Indicators, March 1989.
Apr.
20
Apr.
Apr.
Apr.
Apr.
26
26
27
28
State Personal Income, 2d quarter 1989
Gross National Product, 3d quarter 1989 (advance)
Personal Income and Outlays, September 1989
Composite Indexes of Leading, Coincident, and Lagging Indicators, September 1989.
Oct.
Oct.
Oct.
Oct.
19
26
27
31
Metropolitan Area Personal Income, 1987
Gross National Product, 1st quarter 1989 (preliminary)
Corporate Profits, 1st quarter 1989
Merchandise Trade (balance of payments basis), 1st quarter 1989
Personal Income and Outlays, April 1989
Composite Indexes of Leading, Coincident, and Lagging Indicators, April 1989.
May
May
May
May
May
May
4
25
25
26
26
31
Merchandise Trade (balance of payments basis), 3d quarter 1989.... Nov.
Nov.
Gross National Product, 3d quarter 1989 (preliminary)
Nov.
Corporate Profits, 3d quarter 1989
Nov.
Personal Income and Outlays, October 1989
28
29
29
30
1
Summary of International Transactions, 1st quarter 1989
June
Gross National Product, 1st quarter 1989 (final)
June
Corporate Profits, 1st quarter 1989 (revised)....
June
Personal Income and Outlays, May 1989
June
Composite Indexes of Leading, Coincident, and Lagging Indica- June
tors, May 1989.
13
22
22
23
28
Composite Indexes of Leading, Coincident, and Lagging Indica- Dec.
tors, October 1989.
Summary of International Transactions, 3d quarter 1989
Dec.
Gross National Product, 3d quarter 1989 (final)
Dec.
Corporate Profits, 3d quarter 1989 (revised)
Dec.
Personal Income and Outlays, November 1989
,
Dec.
Composite Indexes of Leading, Coincident, and Lagging Indica- Dec.
tors, November 1989.
* These are target dates and are subject to revision.
13
20
20
21
29
For information, call (202) 523-0777, Bureau of Economic
Analysis, U.S. Department of Commerce.
@FedFRASER