Full text of Survey of Current Business : July 1993

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JULY 1993

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VOLUME 73 NUMBER

7

ECONOMICS AND STATISTICS ADMINISTRATION

BWBMAU OF ECONOMIC ANALYSIS

JULY 1993 ^ ^

VOLUME 73 NUMBER

h
SURVEY of CURRENT BUSINESS
Commerce

U.S.

1

Business Situation

7

National Income and Product Accounts
7 Selected NIPA Tables
26 NIPA Charts
28 Note on Revisions to BEA Estimates of Wages and Salaries

Economics and Statistics
Administration }

//

30

'% S t ^ i LaaAld, l%wfy Director

Managing Editor:
Publication Staff
Sff

- -:"
'^

Leland L. Scott

34

Personal Income by State and Region, First Quarter 1993

40

U.S. Multinational Companies: Operations in 1991

59

Bureau of Economic Analysis

Corrections and Additions: Gross Product by Industry

Foreign Direct Investment in the United States: Detail for

'

Historical-Cost Position and Balance of Payments Flows, 1992

W. Ronnie Foster,

- M. G«tdien Oibson, Bruestine X Gladden,
^; Eric B. Manning, Donaki J. Parschalk _

88

U.S. Direct Investment Abroad: Detail for Historical-Cost
Position and Balance of Payments Flows, 1992

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Current Business Statistics

(Seepage S-36for contents and subject index)
Inside back cover: BEA Information

NOTE-—This issue of the SURVEY went to the printer on August io» 1993.
It incorporates data from the folkmifig monthly BEA news releases:
Gross Domestic Product (July 29),
Personal Income and Gutbys (July 30), and
Composite Indexes of Leading, Coincident, and Lagging
Indicators (Aug. 3).

July J993

SURVEY OF CURRENT BUSINESS

THE
This article was
prepared by Daniel
Larkins, Larry R.
Moran, and Ralph
W. Morris.

BUSINESS

HE ECONOMY'S sluggish expansion continued in the second quarter of 1993, according
to the advance estimates of the national income
and product accounts (NIPA'S). Real gross domestic product (GDP) increased 1.6 percent in the
second quarter after increasing 0.7 percent in the
first (chart 1).' The production of goods other
than motor vehicles increased modestly after a
small decrease, and the production of services accelerated somewhat; in contrast, the production
of motor vehicles changed little after increasing,
and the production of structures decreased a little
more than in the first quarter (table 1).
The growth of real gross domestic purchases
slowed, to 1.5 percent in the second quarter from
2.4 percent in the first. (Unlike GDP, gross domestic purchases excludes exports, and includes
imports, of goods and services.) Final sales to
domestic purchasers increased 3.6 percent in the
second quarter after increasing 0.5 percent in the
first; inventory investment swung down sharply,
as business added much less to inventories than
in the first quarter (table 2). The step-up in final
sales mainly reflected a step-up in personal con-

T

1. Quarterly estimates in the NIPA'S are expressed J I seasonally adjusted
annual rates, and quarterly changes are differences between these rales.
Quartcr-to-quarter percent changes are anmtalrzed. Real, or constant-dollar,
estimates are expressed in 1987 dollars.

SITUATION

sumption expenditures (PCE) and an upturn in
government purchases. In PCE, purchases of motor vehicles and parts accounted for more than
half of the step-up; in government purchases, national defense purchases slipped only slightly after
a record drop. In contrast to the strengthening
in PCE and government purchases, nonresidential
investment increased at about the same—albeit
relatively robust—rate as in the first quarter, and
residential investment decreased after increasing
slightly.
The fixed-weighted price index for gross domestic purchases increased 2.7 percent in the
second quarter after increasing 3.5 percent in

Selected Measures:
Change From Preceding Quarter
Percent
10
REAL GROSS DOMESTIC PRODUCT

5
0
-5

1*

"1 1

a _ ,1 •
•

1 •

•

11

1 ™*

R

-10

REAL GROSS DOMESTIC PURCHASES

Looking Ahead...
• Annual Revision of the National Income and Product Accounts. Revised estimates for the period beginning with the
first quarter of 1990 are scheduled to be presented in the August SURVEY. The annual revisions are usually published in the
July SURVEY, but, as announced earlier this year, the schedule has been delayed one month because of BEA'S move this
summer to a new location.
• Annual Revision of State Personal Income. Revised estimates of State personal income for 1990-92 are scheduled to be
presented in the September SURVEY. The annual revisions are
usually published in the August SURVEY, but, as announced
earlier, the schedule has been delayed one month because of
BEA'S move.



GROSS DOMESTIC PURCHASES PRICE INDEX

1990

Imiliih
1991

1992

Note—Percent change at annual ratefrompreceding quarter;
based on seasonally adjusted estimates.
U.S. Department of Commerce, Bureau of Economic Analysis

1993

SURVEY OF CURRENT BUSINESS

2 • July 1993

GDP increased 2.6 percent after increasing 4.3 percent.
Motor vehicles.—Motor vehicle output changed
little in the second quarter; an increase in car

the first. About half of the difference between the two increases was accounted for by
a first-quarter pay raise for Federal Government
employees. The fixed-weighted price index for

Table 1.—Real Gross Domestic Product by Major Type of Product
[Seasonally adjusted annual rates]

Percent change from preceding quarter

Billions of 1987 dollars

Change from preceding quarter

1992

1993

Level

1992

1993

III

II

II

I

IV

I

IV

III
1993:11

5,019.5

Motor vehicles
Other
Services
Structures

.

.

.

.

.

.

.

.

.

57.1

9.1

19.6

3.4

4.7

0.7

1.6

29.5
-3.8
33.3

44.4
10.2
34.2

1.6
4.4
-2.8

7.2
.1
7.1

6.2
-7.7
7.9

9.3
23.6
7.9

.3
9.2
-.6

1.4
.2
1.6

2,567.0

Goods

41.3

2,019.4
202.5
1,816.9

Gross domestic product

15.1

6.5

8.7

14.3

2.4

1.0

1.4

2.3

433.1

-3.4

6.3

-1.3

-1.8

-3.1

6.0

-1.2

-1.6

NOTE—Dollar levels for most series are found in table 1.4 of the "Selected NIPA Tables."
Output of motor vehicles is the sum of auto output and truck output (from tables 8.4 and 8.6).

Table 2.—Real Gross Domestic Product, Real Gross Domestic Purchases, and Real Final Sales to Domestic
Purchasers
[Seasonally adjusted annual rates]
Billions o 1987 dollars

Percent change from preceding quarter
1993

1992

Change from preceding quarter
Level
1992

1993

III

IV

II

I

IV

III
1993:11

II

I-

5,019.5

41.3

57.1

9.1

19.6

3.4

4.7

0.7

1.6

593.8
663.6

12.5
21.3

12.4
8.7

-4.1
17.2

9.6
9.1

9.2
14.8

8.9
5.7

-2.8
11.2

6.7
5.7

Equals: Gross domestic purchases

5,089.3

50.1

53.4

30.3

19.2

4.1

4.4

2.4

1.5

Less: Change in business inventories

82

7.2

-52

23 7

-25 3

Gross domestic product
Less: Exports of goods and services ....
Plus: Imports of goods and services

5,081.2

Personal consumption expenditures
Nonresidential fixed investment
Residential investment
Government purchases

42.9

58.6

6.6

44.6

3.5

4.8

.5

3.6

3,398.1
564.9
198.0
920.1

Equals: Final sales to domestic purchasers ....

29.9
4.0
.1
8.8

41.5
12.2
11.0
-6.2

6.6
16.6
.7
-17.2

31.6
17.4
-5.0
.5

3.7
3.1
.2
3.8

5.1
9.7
25.1
-2.6

.8
13.1
1.4
-7.1

3.8
13.3
-9.5
.2

NOTE—Dollar levels are found in tables 1.2 and 1.6 of the "Selected NIPA Tables." Percent
chanqes are found in table 8.1.

Table 3.—Motor Vehicle Output, Sales, and Inventories
[Seasonally adjusted annual rates]

Percent change from preceding quarter

Billions of 1987 dollars
Change from preceding quarter

1992

1993

Level
1992

1993

III
1993:11
Output
Cars ..
Trucks

...

...

Final sales
Cars
Trucks
Change in business inventories
Cars
Trucks

.

...

-3.8
-2.8
-1.0

10.2
-1.3
11.5

208.1
121.6
86.5

-5.2
-2.9
-2.3

12.7
3.5
9.2

-7.9
-5.0
-2.9

-2.6
-4.9
2.3

12.3
5.8
6.5

-5.6
-.3
-5.3

1.6
.2
1.4

IV

I

II

II

i

202.5
121.3
81.2

NOTE.—Dollar levels for cars and trucks are found in tables 8.4 and 8.6, respectively, of the
"Selected NIPA Tables."




IV

III

4.4
.8
3.6

0.1
3.2
-3.1

-7.7
-8.9
-5.6

23.6
-4.3
85.0

9.2
2.8
19.1

0.2
11.3
-13.9

20.5
10.4
10.1

-10.6
-9.7
-12.1

30.8
13.0
63.8

-15.2
-16.1
13.8

51.4
43.0
64.3

-20.4
-7.2
-13.2

SURVEY OF CURRENT BUSINESS
output was offset by a decrease in truck output
(table 3).
Sales of motor vehicles jumped, reflecting substantial increases in both car and truck sales.
About 50 percent of the second-quarter increase
was accounted for by consumers; business accounted for about 35 percent of the increase, and
government accounted for about 15 percent.
Sales to consumers jumped 29.1 percent after decreasing 5.3 percent in the first quarter;
car sales accounted for two-thirds of the secondquarter increase. The strength in sales to consumers is surprising in light of recent sub-par
income growth and a relatively high unemployment rate. The Index of Consumer Sentiment

July 1993

(prepared by the University of Michigan's Survey Research Center) dropped sharply, to its
lowest level in three quarters. The strength in
sales to consumers is all the more surprising
because manufacturers' sales-incentive programs
were modest in the second quarter.
Car inventories remained relatively high. Despite the jump in sales, the unit inventory-sales
ratio for new cars decreased only to 2.7; the traditional industry target is 2.4. Truck inventories
dropped sharply.
Prices

As noted, the fixed-weighted price index for gross
domestic purchases increased 2.7 percent in the

Second-Quarter 1993 Advance GDP Estimate: Source Data and Assumptions
The advance GDP estimate for the second quarter is
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 machinery and equipment (2);
Residential investment Construction put in place (2)
and housing starts (3);
Change in business inventories: Manufacturing and
trade inventories (2) and unit auto and truck inventories
(3);

Net exports of goods and services: Merchandise exports
and merchandise imports (2);
Government purchases: Military outlays (3), other Fede m J Q U t l a y s (2)> S t a t e a n d b c a l construction put in place
(2)> a n d S t a t e a n d l o c a l e m p l o y m e n t ( 3 ) ;
GDP

Prices: Consumer Price Index (3), Producer Price
(3), price indexes for nonpetroleum merchandise
ex orts a n d
P
imports (3), and values and quantities of
petroleum imports (2).
B EA made assumptions for the source data that were
not available. A table detailing these assumptions is
available on the Department of Commerced Economic
Bulletin Board or by request from BEA; it is summarized
in Table A.
Index

Table A.—Summary of Major Data Assumptions for Advance Estimates, 1993:11
[Billions of dollars, seasonally adjusted annual rate]
1993
NIPA components and source data
Jan.
Fixed investment:
Nonresidential structures:
Buildings, utilities, and farm:
Value of new nonresidential construction put in place
Producers' durable equipment:
Manufacturers' shipments of complete civilian aircraft less exports
Manufacturers' shipments of nondefense capital goods other than aircraft
Residential structures:
Value of new residential construction put in place:
1 -unit structures
2-or-more-unit structures
Change in business inventories, nonfarm:
Change in inventories for manufacturing and trade (except nonmerchant wholesalers) for
industries other than motor vehicles and equipment in trade
Net exports:
Exports of merchandise:
U.S. exports of merchandise, excluding gold, balance-of-payments basis
Imports of merchandise:
U.S. imports of merchandise, excluding gold, balance-of-payments basis
Net merchandise trade (exports less imports)
'.
Government purchases:
State and local:
Structures:
Value of new construction put in place




Feb.

Mar.

Apr.

May

June

124.9

125.6

127.8

127.2

130.4

132.8

6.4
312.9

7.2
319.1

20.2
333.2

8.8
320.5

12,4
324.6

11.9
329.8

132.4
9.3

132.6
10.3

130.5
11.2

128.2
9.8

127.9
10.1

128.1
9.9

16.5

18.5

32.9

31.7

31.7

10.4

433.7

432.1

453.4

445.9

449.1

454.2

543.2
-109.5

538.4
-106.3

592.5
-139.1

583.9
-138.0

565.5
-116.4

560.8
-106.6

97.5

102.3

103.7

106.5

104.1

104.0

4 • July 1993

SURVEY OF CURRENT BUSINESS
second quarter after increasing 3.5 percent in the
first (table 4). The price index for gross domestic purchases less food and energy increased
2.9 percent after increasing 3.8 percent (chart 2).
For both indexes, about half of the difference
between the first- and second-quarter increases
was attributable to the first-quarter pay raise
of 3.7 percent for Federal military and civilian
personnel.2
2. In the NiPA'S, an increase in government employee compensation
is treated as an increase in the price of employee services purchased by
government.

Table 4.—Fixed-Weighted Price Indexes: Change from
Preceding Quarter
[Percenl change at annual rates; based on seasonally adjusted index
numbers (1987= 100)1
1993

1992

3.4

4.3

2.6

1.0
-2.6

1.8
-4.7

2.2
4.1

2.5

2.9

3.5

2.7

2.5

2.9

3.5

2.7

2.6
2.1
6.8
2.5
1.5
2.1
1.1
3.9
2.4

3.0
2.4
1.5
3.3
.6
3.4
-.9
4.4
3.4

3.5
2.7
1.6

1.0
4.4
4.4

2.8
2.4
-1.5
3.2
2.5
4.6
1.3
4.3
2.3

6.2
26.7
4.3

-.4
-12.7

-5.3
-29.5
-2.4

3.6
14.8
2.6

2.2

Gross domestic product
Less: Exports of goods and services
Plus: Imports of goods and services
Equals: Gross domestic purchases
Less: Change in business inventories
Equals: Final sales to domestic purchasers
Personal consumption expenditures
Food
Energy
Other personal consumption expenditures ....
Nonresidential fixed investment
Structures
Producers' durable equipment
Residential investment
Government purchases
Addenda:
Merchandise imports
Petroleum and products
Other merchandise

NOTE.—Percent changes in major aggregates are found in table 8.1 of !he "Selected NIPA
Tables," and levels of most index numbers are found in tables 7 1 and 7.2




Gross Domestic Purchases
Prices (Fixed Weights):
Change From Preceding Quarter
Percent
8
"• Total

Less Food and Energy

Prices of PCE increased 2.8 percent after increasing 3.5 percent. A slight slowdown in food
prices largely reflected the prices of red meats
and of fresh fruits and vegetables. A downturn
in energy prices was more than accounted for
by gasoline and oil; other energy prices turned
up. A slowdown in "other" PCE prices mainly
reflected downturns in clothing and shoes and in
transportation services.
Prices of nonresidential fixed investment increased 2.5 percent after increasing 1.7 percent.
Prices of both nonresidential structures and producers' durable equipment increased more in
the second quarter than in the first. Within
structures, prices of utilities accelerated; prices
of mining exploration, shafts, and wells and
of "other" structures increased after small decreases. Within producers' durable equipment,
prices of industrial equipment and of "other"
equipment accelerated; in contrast, prices of
information processing equipment decreased after no change, and prices of transportation
equipment decelerated.
Prices of residential investment increased 4.3
percent, about the same as in the first quarter.
Prices of government purchases increased 2.3
percent after increasing 4.4 percent. The slowdown was due to the prices paid by the Federal
Government, which increased 1.7 percent after increasing 7.6 percent, and reflected the pay raise.
Prices paid by State and local governments increased 2.8 percent after increasing 1.8 percent;
the step-up mainly reflected an upturn in the
prices of structures.
The price index for GDP, which measures the
prices paid for goods and services produced in
the United States, increased 2.6 percent after increasing 4.3 percent. This index, unlike that for
gross domestic purchases, includes prices of exports and excludes prices of imports. Prices of
exports increased a little more than in the first
quarter. Prices of imports turned up, reflecting a sharp upturn in petroleum and products
and more modest upturns in all other major end-use categories except industrial supplies
and materials (which decreased after a small
increase).
Personal income

0

1990

1991

1992

Note—Percent change at annual rate from preceding quarter;
based on seasonally adjusted index numbers (1987=100).
U.S. Department of Commerce, Bureau of Economic Analysis

1993

Real disposable personal income (DPI) increased
1.3 percent in the second quarter after increasing 2.7 percent in the first (chart 3). The
deceleration was more than accounted for by a
slowdown in current-dollar DPI, which increased
3.8 percent after increasing 5.8 percent. The per-

July 1993 •

SURVEY OF CURRENT BUSINESS

The estimates of wages and salaries will be revised substantially in the upcoming annual revision of the NIPA'S.
For information, see the note on page 28.

sonal saving rate fell 0.6 percentage point to 4.3
percent, reflecting a larger increase in currentdollar personal outlays—mainly PCE—than in
current-dollar DPI.

made. Wages and salaries in private industries
increased slightly less than in the first quarter.
Farm proprietors' income decreased $4.5 billion after increasing $4.8 billion. The downswing
was more than accounted for by Federal farm
subsidy payments; subsidies decreased $6.6 billion after increasing $6.6 billion. Excluding
subsidies, farm proprietors' income increased after decreasing; the increase reflected higher crop

Personal income increased $51.0 billion after
increasing $76.7 billion (table 5). Proprietors' income and transfer payments were responsible for
most of the deceleration, but nearly all of the
components of personal income contributed.
Wage and salary disbursements increased $29.0
billion after increasing $35.9 billion. Government wages and salaries increased considerably
less than in the first quarter, when the Federal pay
raise became effective and retirement incentive
payments to U.S. Postal Service employees were

5

Table 5.—Personal Income and Its Disposition
[Billions ol dollars; seasonally adjusted at annual rates]
Level

Change from preceding
quarter
1993

1992

1993:11
III
Wage and salary disbursements
Commodity-producing industries
Manufacturing
Other
Distributive industries
Service industries
Government

3,034.8
760.2
579.3
180.9
691.0
1003.3
580.3

IV

22.2
-.7
.8
-1.5
4.8
15.2
2.9

46.4
8.2
7.3
.9
8.1
24.8
5.3

35.9
3.8
3.7
.1
9.2
14.3
8.6

29.0
5.8
2.8
3.0
6.0
15.1
2.1

Other labor income ....

320.8

4.3

4.3

4.3

4.3

Proprietors' income with IVA and CCAd]
Farm
Nonfarm

442.7
48.4
394.4

-1.0
-7.0
6.0

31.0
16.6
14.5

13.5
4.8
8.6

-4.5
5.4

Selected Personal Income and
Saving Measures

Rental income of persons with CCAdj
Personal dividend income
Personal interest income

3.1
24.6
4.4
150.7
654.9 -12.0

7.2
4.8

4.1
4.1

-5.4

-1.4

Billions $

Transfer payments to persons

922.0

14.4

13.9

21.9

261.9

2.2

3.3

5.6

Less: Personal contributions lor social insurance
Personal income
Less: Personal tax and nontax payments
Equals: Disposable personal income .:
Less: Personal outlays
Equals: Personal saving

0

I.. •

1

• 1..

1I .

-5

l

-10
Percent
10
PERSONAL SAVING RATE

Illlllllllllll

1990
1991
1992
1993
Based on Seasonally Adjusted Annual Rates

In wages and salaries:
Federal Government and Postal Sen/ice pay adjustments
Work interruptions due to hurricanes
In farm proprietors' income:
Agricultural subsidy payments
Uninsured losses to residential and business property as well as
crop losses due to hurricanes
1 nonfarm proprietors' income:
Uninsured losses to business property due to hurricanes
In rental income of persons with CCAdj:
Uninsured losses to residential property from March East Coast
storm
Uninsured losses to residential and business property due to
hurricanes
In transfer payments to persons:
Social security retroactive payments
Cost-of-living increases in Federal transfer payments
Emergency Unemployment Compensation payments
Earned income credit payments
Japanese-American World War II internee payments
In personal contributions for social insurance:
Social security rate and base changes and increase in premium for
supplementary medical insurance

Note—Changes arefrompreceding quarter.
U.S. Department ot Commerce, Bureau of Economic Analysis




33.1

664.2

11.7

4,624.5

21.4

4,424.7

50.4

199.8 -29.0

98.9

76.7

14.8

12.4

84.1

64.4

87.0

41.9

-2.9

22.5

12.1
1.5
51.0
8.2
42.8
65.9
-23.1

Addenda: Special factors in personal income:

Percent
10
CHANGE IN REAL DPI
5

5,288.6

6.9
.8
-1.5

NOTE—Most dollar levels are found in table 2.1 of the "Selected NIPA Tables."
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment

6.4
0

-1.6

-2.3
0
-6.6

-5.2

7.5

6.6

-3.0

2.4

.6

-.7

0
0

-2.3

2.2

-4.1

3.8

.5

0
0
-1.7
0
0

1.1
0
.5
0
2.0

-1.1
10.8
-.3
1.2
-2.0

3.1

-A

6 • July 1993




SURVEY OF CURRENT BUSINESS
and livestock prices received by farmers and lower
input prices paid by farmers.
Nonfarm proprietors' income increased $5.4
billion after increasing $8.6 billion. The deceleration primarily reflected a slowdown in
single-family construction, the part of the construction industry in which proprietorships and
partnerships are concentrated.
Rental income of persons increased $6.9 billion
after increasing $4.1 billion. In the first quarter, a storm on the East Coast in March resulted
in uninsured losses of nonfarm residential property that reduced rental income $2.3 billion (such
losses are treated as expenses in the calculation
of rental income).
Personal interest income decreased for the
sixth consecutive quarter. The decreases largely
reflected decreases in interest rates.

Transfer payments increased $12.1 billion after
increasing $21.9 billion. The first-quarter increase was boosted $10.8 billion by cost-of-living
adjustments to benefits under social security
and several other Federal retirement and income
support programs.
Personal contributions for social insurance,
which are subtracted in the calculation of personal income, increased $1.5 billion after increasing $5.6 billion. The first-quarter increase
was boosted $3.1 billion by several changes
in the social security program and in the
medicare and supplementary medical insurance
programs.
Personal tax and nontax payments increased
$8.2 billion after increasing $12.4 billion. The
first-quarter increase partly reflected the effects of
several changes in the Federal income tax law. £3

July 1993

SURVEY OF CURRENT BUSINESS

NATIONAL

INCOME

7

AND P R O D U C T

ACCOUNTS

Selected NIPA Tables
New estimates in this issue: Second quarter 1993, advance.
The selected set of national income and product accounts (NIPA) tables shown in this section presents
quarterly estimates, which are updated monthly. (In most tables, the annual estimates are also shown.) These
tables are available on the day of the gross domestic product (GDP) news release on printouts and diskettes on a
subscription basis or from the Commerce Department's Economic Bulletin Board. For order information, write
to the National Income and Wealth Division (BE-54), Bureau of Economic Analysis, Washington, DC 20230 or
call (202) 606-5304.
The full set of NIPA tables is published in the SURVEY OF CURRENT BUSINESS as part of the annual NIPA
revision. This year, the revision, which will cover the period beginning with the first quarter of 1990, will be
published in the August SURVEY; most tables will appear in that issue.
Tables containing the estimates for 1929-88 are available in the two-volume set National Income and Product
Accounts of the United States; see inside back cover for order information. These tables are also available, most
beginning with 1929, on diskettes or magnetic tape. For more information on the presentation of the estimates,
see "A Look at How BEA Presents the NIPA'S" in the February 1993 SURVEY.
NOTE.—This section of the SURVEY is prepared by the National Income and Wealth Division and the
Government Division.
NOTE

TO USERS:

The incorporation of recently available source data into the wages and salaries component of the State

personal income estimates resulted in substantial revisions. When these source data are incorporated as part of the upcoming
annual revision of NIPA'S, the NIPA estimates of wages and salaries will also be revised substantially. For more information,
see the note on page 28 of this issue.

Table 1.1.—Gross Domestic Product

Table 1.2.—Gross Domestic Product in Constant Dollars

[Billions of dollars]

[Billions of 1987 dollars]

Seasonally adjusted at annual rates

Seasonally adjusted at annual rates
1991

Gross domestic
product
Personal consumption
expenditures
Durable goods
Nondurable goods
Services
Gross private domestic
investment
Fixed investment
Nonresidential
Structures
Producers' durable
equipment
Residential
Change in business
inventories
Nonfarm
Farm

1992

1992

1993

1991

5,677.5 5,950.7 5,840.2 5,902.2 5,978.5 6,081.8 6,145.8 6,206.9
3,887.7 4,095.8 4,022.8 4,057.1 4,108.7 4,194.8 4,234.7 4,301.0

3,240.8 3,314.0 3,289.3 3,288.5 3,318.4 3,359.9 3,366.5 3,398.1

446.1 480.4 469.4 470.6 482.5 499.1 498.8 519.3
1,251.5 1,290.7 1,274.1 1,277.5 1,292.8 1,318.6 1,320.8 1,329.7
2,190.1 2,324.7 2,279.3 2,309.0 2,333.3 2,377.1 2,415.1 2,452.0

Durable goods
Nondurable goods
Services

414.7 439.1 432.3 430.0 439.8 454.4 453.5 468.8
1,042.4 1,054.1 1,049.6 1,045.6 1,052.0 1,069.4 1,062.2 1,068.6
1,783.7 1,820.7 1,807.3 1,812.9 1,826.6 1,836.2 1,850.8 1,860.7

721.1

770.4

722.4

773.2

781.6

804.3

844.0

831.3

731.3
541.1
180.1

766.0
548.2
168.4

738.2
531.0
170.1

765.1
550.3
170.3

766.6
549.6
166.1

794.0
562.1
167.0

809.0
573.8
168.0

825.0
593.1
171.9

360.9
190.3

379.9
217.7

360.8
207.2

380.0
214.8

383.5
217.0

395.1
231.9

405.8
235.2

421.3
231.9

-10.2!
-10.3
0

4.4
2.2
2.2

-15.8
-13.3
-2.4

8.1
6.4
1.7

15.0
9.7
5.3

10.3
6.2
4.1

34.9
32.6
2.3

6.3
8.6
-2.3

services

-21.8

-30.4

-8.1

-37.1

-36.0

-40.5

Exports
Imports

598.2
620.0

636.3
666.7

628.1
636.2

625.4
662.5

639.0
675.0

652.7
693.2

Federal
- National defense
Nondefense
State and local

-49.9
649.4
698.9

662.1
712.0

1,090.5 1,114.9 1,103.1 1,109.1 1,124.2 1,123.3 1,116.6 1,124.4
447.3
323.8
123.6
643.2

449.1
315.8
133.4
665.8

445.0
313.6
131.4
658.0

444.8
311.7
133.1
664.3

455.2
319.6
135.7
669.0

451.6
318.2
133.4
671.7

441.1
304.2
136.9
675.4

NOTE—Percent changes from preceding period for selected items in this table are shown in table 8.1.




4,821.0 4,922.6 4,873.7 4,892.4 4,933.7 4,990.8 4,999.9 5,019.5

Personal consumption
expenditures

Net exports of goods and

Government purchases .

Gross domestic
product

1993

1992

1992

440.6
305.0
135.6
683.8

Gross private domestic
investment
Fixed investment
Nonresidential
Structures
Producers' durable
equipment
Residential
Change in business
inventories
Nonfarm
Farm
Net exports of goods and
services
Exports
Imports
Government purchases .
Federal
National defense
Nondefense
State and local

661.1

712.6

668.9

713.6

724.9

743.1

784.0

771.1

670.4
500.2
157.6

707.6
515.0
146.8

681.4
495.8
149.4

705.9
514.7
149.1

710.0
518.7
144.7

733.3
530.9
144.0

750.5
547.5
144.0

763.0
564.9
145.7

342.6
170.2

368.2
192.6

346.4
185.6

365.6
191.2

374.0
191.3

386.9
202.3

403.5
203.0

419.2
198.0

-9.3
-9.6
.3

5.0
2.6
2.4

-12.6

-10.7

15.0
9.6
5.3

9.8
5.6
4.2

33.5
30.5
3.0

8.2
9.0

-1.9

7.8
6.0
1.8

-21.8

-41.8

-21.5

-43.9

-52.7

-49.0

-70.3

539.4
561.2

573.2
615.0

565.4
586.8

563.4
607.3

575.9
628.6

588.3
637.3

584.2
654.5

593.8
663.6

941.0

937.8

937.0

934.2

943.0

936.8

919.6

920.1

388.3
282.8
105.5
552.7

375.6
265.0
110.6
562.2

375.3
265.6
109.7
561.8

372.7
262.1
110.6
561.5

379.5
267.4
112.1
563.5

375.0
265.0
109.9
561.9

357.0
245.9
111.1
562.6

354.3
245.0
109.3
565.8

NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.

8 • July 1993

SURVEY OF CURRENT BUSINESS

Table 1.3.—Gross Domestic Product by Major Type of Product

Table 1.4.—Gross Domestic Product by Major Type of Product
in Constant Dollars

[Billions of dollars]

[Billions of 1987 dollars]

Seasonally adjusted at annual rates
1991

Gross domestic
product

1992

1992

Seasonally adjusted at annual rates
1991

1993

5,677.5 5,950.7 5,840.2 5,902.2 5,978.5 6,081.8 6,145.8 6,206.9

Final sales of domestic
product
Change in business
inventories

5,687.7 5,946.3 5,855.9 5,894.1 5,963.5 6,071.5 6,110.8 6,200.5
-10.2

Goods1

4.4

-15.8

8.1

15.0

10.3

34.9

6.3

2,182.5 2,264.7 2,217.8 2,241.3 2,273.4 2,326.4 2,344.1 2,357.0

Final sales
Change in business
inventories

2,192.7 2,260.3 2,233.6 2,233.2 2,258.4 2,316.1 2,309.2 2,350.7
-10.2

8.1

15.0

10.3

940.4
943.9

904.3
923.6

941.8
932.3

946.5
943.8

969.0
975.8

-19.2

-3.5

-19.3

9.5

2.7

-6.9

34.9

6.3

986.6 1,002.6
968.8 1,008.2
-5.6

17.8

1,294.1 1,324.3 1,313.5 1,299.5 1,326.9 1,357.4 1,357.5 1,354.4
1,285.1 1,316.4 1,310.0 1,300.8 1,314.6 1,340.3 1,340.4 1,342.5

Nondurable goods
Final sales
Change in business
inventories
Services1

-15.8

888.4
907.6

Durable goods
Final sales
Change in business
inventories

4.4

9.0

7.9

3.5

-1.4

12.3

17.2

11.9

17.2

3,030.2 3,197.1 3,142.2 3,173.4 3,217.8 3,255.1 3,299.4 3,343.5
464.7

Structures

480.1

487.6

487.3

500.3

636.3

628.1

625.4

639.0

652.7

649.4

662.1

666.7

636.2

662.5

675.0

693.2

698.9

712.0

5,699.3 5,981.1 5,848.3 5,939.4 6,014.5 6,122.3 6,195.2 6,256.8
-10.2

4.4

-15.8

-12.6

7.8

15.0

9.8

8.2

33.5

Final sales
Change in business
inventories
Durable goods
Final sales
Change in business
inventories
Nondurable goods
Final sales
Change in business
inventories
Services' ....

1,920.5 1,954.4 1,936.6 1,929.0 1,951.3 2,000.7 1,978.7 2,011.3
-9.3

5.0

-12.6

7.8

15.0

9.8

33.5

8.2

834.1
851.6

876.2
879.2

842.4
859.6

874.2
865.7

883.6
880.2

904.8
911.1

921.6
905.1

932.0
936.2

-17.5

-2.9

-17.3

8.6

3.3

-6.3

16.5

-4.2

1,077.1 1,083.2 1,081.7 1,062.5 1,082.7 1,105.8 1,090.6 1,087.4
1,069.0 1,075.2 1,077.0 1,063.3 1,071.1 1.089.7 1,073.6 1,075.1
8.2

7.9

4.7

11.6

16.1

12.3

17.0

2,497.6 2,531.0 2,520.11 2,522.4 2,537.5 2,544.0 2,552.7 2,567.0
412.2

432.2

429.5J

433.3

429.9

436.2

434.9

433.1
Federal

[Billions of 1987 dollars]

620.0

Equals: Final sales to
domestic purchasers2 .

5.0

Table 1.6.—Relation of Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers in Constant
Dollars

598.2

Less: Change in business
inventories

-9.3

1,911.2 1,959.4 1,924.0 1,936.7 1,966.2 2,010.6 2,012.2 2,019.4

1. Exports and imports of certain goods, primarily military equipment purchased and sold by the
Government, are included in services.
NOTE—Percent changes from preceding period for selected items in this table are shown in table 8.1.

5,677.5 5,950.7 5,840.2 5,902.2 5,978.5 6,081.8 6,145.8 6,206.9

Equals: Gross domestic
purchases1

4,830.3 4,917.6 4,886.3 4,884.6 4,918.7 4,981.0 4,966.3 5,011.3

Structures ...

[Billions of dollars]

Less: Exports of goods and
services
Plus: Imports of goods and
services

Goods1

4,821.0 4,922.6 4,873.7 4,892.4 4,933.7 4,990.8 4,999.9 5,019.5

506.3

Table 1.5.—Relation of Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers

Gross domestic product ...

Final sales of domestic
product
Change in business
inventories

1993

1992

Federal

502.3

1. Exports and imports of certain goods, primarily military equipment purchased and sold by the
Government, are included in services.
NOTE—Percent changes from preceding period for selected items in this table are shown in table 8.1.

Gross domestic
product

1992

8.1

15.0

10.3

34.9

6.3

5,709.5 5,976.7 5,864.1 5,931.3 5,999.5 6,112.0 6,160.3 6,250.4

Gross domestic product ...
Less: Exports of goods and
services
Plus: Imports of goods and
services
Equals: Gross domestic
purchases1
Less: Change in business
inventories
Equals: Final sales to
domestic purchasers2 ...

4,821.0 4,922.6 4,873.7 4,892.4 4,933.7 4,990.8 4,999.9 5,019.5
539.4

573.2

565.4

563.4

575.9

588.3

584.2

593.8

561.2

615.0

586.8

607.3

628.6

637.3

654.5

663.6

4,842.8 4,964.4 4,895.2 4,936.3 4,986.4 5,039.8 5,070.1 5,089.3
-9.3

5.0

7.8

-12.6

15.0

9.8

8.2

33.5

4,852.1 4,959.4 4,907.7 4,928.5 4,971.4 5,030.0 5,036.6 5,081.2

1. Purchases by U.S. residents of goods and services wherever produced.
2. Final sales to U.S. residents of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.

1. Purchases by U.S. residents of goods and services wherever produced.
2. Final sales to U.S. residents 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 Domestic Product by Sector

Table 1.8.—Gross Domestic Product by Sector in Constant Dollars

[Billions of dollars]

[Billions of 1987 dollars]

Gross domestic
product
Business

5,677.5 5,950.7 5,840.2 5,902.2 5,978.5 6,081.8 6,145.8 6,206.9
4,803.8 5,033.4 4,937.4

5,057.5 5,149.9 5,198.2 5,250.0

Nonfarm
4,702.8 4,916.4 4,826.9 4,877.6 4,940.0 5,020.9 5,069.2 5,118.3
Nonfarm less housing .... 4,229.8 4,415.4 4,341.1 4,386.9 4,413.2 4,520.6 4,557.7 4,604.9
Housing
473.0 500.9 485.8 490.7 526.8 500.4 511.5 513.3
Farm
80.1
88.3
87.3
85.6
82.9
82.5
79.1
81.6
30.9
Statistical discrepancy
43.4
41.7
43.4
34.1
35.1
21.9
29.0
246.1

General government
Federal
State and local
Addendum:
Gross domestic business
product less housing ....

261.5

264.8

268.9

273.2

277.4

9.4
248.9

9.6
251.9

9.7
255.1

9.9
259.0

10.1
263.1

10.2
267.1

654.0

644.4

652.2

656.2

663.0

674.4

679.5

192.0
435.6

Nonprofit institutions

258.3

9.7
253.7

627.6

Private households

263.4

9.2
236.9

Households and institutions

199.0
454.9

198.2
446.2

198.7
453.5

199.0
457.2

200.2
462.8

206.6
467.8

206.5
473.0

4,326.3




Gross domestic
product
Business

4,821.0 4,922.6 4,873.7 4,892.4 4,933.7 4,990.8 4,999.9 5,019.5
4,103.9 4,202.9 4,156.8 4,174.4 4,212.5 4,268.0 4,276.0 4,291.7

Nonfarm
4,015.8 4,100.3 4,058.8 4,076.1 4,109.2 4,157.2 4,166.7 4,184.4
Nonfarm less housing .... 3,621.0 3,700.9 3,661.1 3,677.0 3,709.1 3,756.4 3,763.8 3,779.9
Housing
394.9 399.4 397.6 399.1 400.1 400.6 402.9 404.5
69.4
74.1
73.6
76.3
73.6
Farm
72.5
74.0
71.8
24.4
18.7
34.5
35.7
28.5
29.2
Statistical discrepancy
25.9
35.5
Households and institutions
Private households
Nonprofit institutions
General government
Federal
State and local
Addendum:
Gross domestic business
product less housing

202.4

208.0

206.7

206.7

208.8

209.8

210.9

214.2

8.2
194.2

8.4
199.7

8.3
198.4

8.4
198.3

8.4
200.5

8.4
201.4

8.5
202.4

8.6
205.5

514.7

511.7

510.3

511.3

512.3

513.0

513.0

513.6

157.1
357.5

151.5
360.2

152.5
357.7

151.8
359.5

151.1
361.2

150.6
362.4

149.5
363.5

148.6
365.0

3,705.2

SURVEY OF CURRENT BUSINESS

July 1993

Table 1.9.—Relation of Gross Domestic Product, Gross National
Product, Net National Product, National Income, and Personal
Income

Table 1.10.—Relation of Gross Domestic Product, Gross National
Product, Net National Product, and National Income in Constant
Dollars

[Billions of dollars]

[Billions of 1987 dollars]

Seasonally adjusted at annual rate
1991

1992

1992

I
Gross domestic product
Plus: Receipts of factor
income from the rest of the
world1
Less: Payments of factor
income to the rest of the
world2
Equals: Gross national
product
Less: Consumption of fixed
capital
Capital
/vinoi imnti/M"i
OU(iouiiI(JuOll

allowances
Less: Capital
consumption
adjustment
Equals: Net national product
Less: Indirect business tax
and nontax liability
Business transfer
payments
Statistical discrepancy
Plus: Subsidies less current
surplus of government
enterprises
Equals: National income
Less: Corporate profits with
inventory valuation and
capital consumption
adjustments
Net interest
Contributions for
social insurance
Wage accruals less
disbursements
Plus: Personal interest income
Personal dividend
income
Government transfer
payillcillo IU
persons
Business transfer
payments to
persons

II

Seasonally adjusted at annuai rates

1991

1993

III

IV

I

5,677.5 5,950.7 5,840.2 5,902.2 5,978.5 6,081.8 6,145.8 6,206.9

143.5

128.8

132 9

131.3

128 8

122.3

117.6

113.3

124.3

115.3

117.3

117.1

Equals: Gross national
product

5,694.9 5,961.9 5,859.8 5,909.3 5,992.0 6,086.8 6,155.1
626.1

653.4

631.4

638.2

697.7

646.5

661.2

Gross domestic product
Plus: Receipts of factor
income from the rest of the
worid1
Less: Payments of factor
income to the rest of the
world2

126 5

126.0

661.7

Less: Consumption of fixed
capital
Equals: Net national product

574.2

619.3

598.0

608.9

642.8

627.7

640.0

645.7

-51.9

-34.1

-33.5

-29.3

-54.8

-18.8

-21.2

-15.9

5,068.8 5,308.5 5,228.3 5,271.1 5,294.3 5,440.2 5,494.0
475.2

504.2

493.8

497.6

506.4

519.0

523.0

531.2

28.1
21.9

29.7
34.1

29.4
29.0

29.8
30.9

29.9
35.1

29.9
41.7

29.7
43.4

30.4

.5

2.9

3.2

3.6

-3.4

8.2

16.3

5.6

Less: Indirect business tax
and nontax liability plus
business transfer payments
less subsidies plus current
surplus of government
enterprises
Statistical discrepancy

109.7

107.6

105.0

99.2

101.6

105.4

95.2

92.7

101.0

93.0

94.1

93.0

4,836.4 4,932.8 4,890.7 4,899.1 4,945.6 4,995.9 5,008.5
569.3

591.3

576.4

578.0

628.3

582.5

592.8

590.6

4,267.2 4,341.5 4,314.3 4,321.1 4,317.3 4,413.3 4,415.7

391.6
18.7

401.0
28.5

396.3
24.4

399.5
25.9

402.5
29.2

405.6
34.5

407.9
35.7

410.7

4,251.7 4,331.3 4,297.3 4,314.4 4,305.4 4,408.2 4,407.1 4,428.9
3,841.5 3,901.9 3,876.6 3,889.1 3,873.6 3,968.1 3,963.5
4,817.8 4,904.3 4,866.3 4,873.2 4,916.4 4,961.3 4,972.7

Table 1.11.—Command-Basis Gross National Product in Constant
Dollars

388.4
420 0

374.1
407 3

428.5
403.6

424.2
402 0

528.8

553.5

546.2

550.8

554.4

562.5

572.4

654.9

Gross national product
Less: Exports of goods and
services and receipts of
factor income from the rest
of the world
Plus: Command-basis exports
of goods and services and
receipts of factor income1 ..

575.6

[Billions of 1987 dollars]

0

700.6

-1.5
670.2

684.8

675.2

663.2

-6.0
657.8

-6.0
656.4

137.0

139.3

133.9

136.6

141.0

145.8

149.9

150.7

748.3

841.6

818.6

835.3

849.3

863.0

884.8

896.7

22.8

24.5

24.1

24.4

24.8

24.9

25.1

25.3

Equals: Personal income

4,828.3 5,058.1 4,980.5 5,028.9 5,062.0 5,160.9 5,237.6 5,288.6

Equals: Command-basis
gross national product ....

Addenda:
Net domestic product
Domestic income
Gross national income

5,051.4 5,297.2 5,208.7 5,264.1 5,280.9 5,435.3 5,484.6 5,545.2
4,526.7 4,732.1 4,659.8 4,709.5 4,706.1 4,853.0 4,904.8
5,673.1 5,927.8 5 830.8 5,878.4 5,956.9 6,045.1 6,111.7

Addendum:
Terms of trade2

1. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
2. Consists largely of payments tc foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.




105.4

3,856.9 3,912.1 3,893.6 3,895.8 3,885.6 3,973.2 3,972.1

384.0
430 0

0

120.8

Equals: National income

393.8
4152

0

4,821.0 4,922.6 4,873.7 4,892.4 4,933.7 4,990.8 4,999.9 5,019.5

Addenda:
Net domestic product
Domestic income
Gross national income

346.3
449 5

0

1993

1. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
2. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.

4,544.2 4,743.4 4,679.4 4,716.5 4,719.6 4,858.0 4,914.2

-.1

1992

1992

II

4,836.4 4,932.8 4,890.7 4,899.1 4,945.6 4,995.9 5,008.5

660.2

678.6

675.0

671.0

680.9

687.5

685.8

662.7

692.9

689.9

681.2

701.1

699.4

710.8

4,838.9 4,947.1 4,905.6 4,909.2 4,965.8 5,007.8 5,033.4
100.4

102.1

102.2

101.5

103.0

101.7

103.6

1. Exports of goods and services and receipts of factor income deflated by the implicit price deflator for
imports of goods and services and payments of factor income.
2. Ratio of the implicit price deflator for exports of goods and services and receipts of factor income to the
corresponding implicit price deflator for imports 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.

10 • July 1993

SURVEY OF CURRENT BUSINESS

Table 1.14.—National Income by Type of Income

Table 1.16.—Gross Domestic Product of Corporate Business in
Current Dollars and Gross Domestic Product of Nonfinancial
Corporate Business n Cur rent and Constant Dollars

[Billions of dollars]

Seasonally adjusted at annual rates
1991

1992

1992

Seasonally adjusted at annual rates

1993
1991

1992

1992

I
National income
Compensation of employees
Waaes and salaries
Government
Other
Supplements to wages and
salaries
Employer contributions
for social insurance ...
Other labor income
Proprietors' income with
IVA and CCAdj
Farm
,
Proprietors' income with
IVA
CCAdj

3,390.8 3,525.2 3,476.3 3,506.3 3,534.3 3,583.7 3,628.4 3,669.4

2,812.2 2,916.6 2,877.6 2,901.3 2,923.5 2,963.9 2,999.8 3,034.8
543.5 562.5 554.6 561.4 564.3 569.6 578.2 580.3
2,268.7 2,354.1 2,323.0 2,339.9 2,359.1 2,394.3 2,421.6 2,454.5
578.7

608.6

598.7

605.0

610.8

619.8

628.6

634.5

290.4
288.3

302.9
305.7

299.4
299.2

301.5
303.6

302.9
307.9

307.6
312.2

312.0
316.5

313.7
320.8

368.0

404.5

393.6

398.4

397.4

428.4

441.9

442.7

35.8

39.5

40.1

38.5

31.5

48.1

52.9

48.4

47.1
-7.5

47.5
-7.4

45.8
-7.3

39.7
-8.2

55.3
-7.2

60.0
-7.1

55.5
-7.1

Nonfarm
Proprietors' income
IVA
CCAdj

332.2
318.7
-.3
13.8

364.9
349.3
-.7

359.9
344.8
-1.0
16.1

365.9
350.2
-.5

16.2

353.6
339.1
-.8
15.2

16.2

380.4
363.2
-.3
17.5

389.0
372.5
-1.5
17.9

394.4
377.7
-1.4
18.0

Rental income of persons
with CCAdj

-10.4

4.7

-4.5

3.3

6.4

13.6

17.7

24.6

47.5
-57.9

68.5
-63.8

51.7
-56.2

60.0
-56.6

90.3
-83.9

72.2
-58.6

81.6
-63.9

85.2
-60.6

346.3

393.8

384.0

388.4

374.1

428.5

424.2

337.8
334.7
124.0
210.7
146.5
64.2

364.2
371.6
140.2
231.4
149.3
82.1
-7.4

360.7
366.1
136.4
229.7
143.6
86.2
-5.4

361.4
376.8
144.1
232.7
146.6
86.1
-15.5

344.4
354.1
131.8
222.2
151.1
71.1
-9.7

390.4

383.6
393.0
147.2
245.7
160.2
85.5
-9.4

-16.6

8.4

29.5

23.3

27.0

29.7

38.1

40.6

42.6

449.5

415.2

430.0

420.0

407.3

403.6

Corporate profits with IVA
and CCAdj
Corporate profits with IVA ..
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
IVA
CCAdj
Net interest
Addenda:
Corporate profits after tax
with IVA and CCAdj
Net cash flow with IVA
and CAdj
Undistributed profits
with IVA and CCAdj
Consumption of fixed
capital
Less: IVA
Equals: Net cash flow ....

in

IV

I

II

4,544.2 4,743.4 4,679.4 4,716.5 4,719.6 4,858.0 4,914.2

43.4
-7.6

Rental income of persons ..
CCAdj

II

1993

3.1

389.4

148.5
241.0
155.9
85.0
1.0

161.1

402.0

Billions of dollars

Gross domestic
product of corporate
business
Consumption of fixed capital ..
Net domestic product
Indirect business tax and
nontax liability plus
business transfer
payments less subsidies
Domestic income
Compensation of
Wages and salaries ...
Supplements to wages
and salaries
Corporate profits with
IVA and CCAdj
Profits before tax
Profits tax liability ..
Profits after tax
Dividends
Undistributed
profits
IVA
CCAdj ..
Net interest
Gross domestic
product of financial
corporate business ..
product of
nonfinancial
corporate business ..
Consumption of fixed capital ..
Net domestic product

222.3

253.6

247.6

244.3

242.3

280.1

277.0

458.8

499.1

490.1

488.9

498.4

518.9

516.8

75.8

104.3

104.0

97.7

91.2

124.1

116.8

383.0

3.1
455.6




394.8
-7.4
506.5

386.1
-5.4
495.6

391.2
-15.5
504.3

407.2
-9.7
508.1

394.7
1.0
517.9

400.0
-9.4
526.1

Indirect business tax and
nontax liability plus
business transfer
payments less subsidies
403.3
-16.6

Domestic income
Compensation of
employees
Wages and salaries ...
Supplements to wages
and salaries
Corporate profits with
IVA and CCAdj
Profits before tax
Profits tax liability ..
Profits after tax
Dividends
Undistributed
profits
IVA
CCAdj
Net interest

3,352.2 3,493.3 3,437.3 3,471.4 3,488.4 3,576.3 3,597.0
383.0

394.8

386.1

391.2

407.2

394.7

400.0

403.3

2,969.2 3,098.5 3,051.2 3,080.2 3,081.1 3,181.6 3,197.0

342.2

362.6

355.7

357.5

364.0

373.1

373.2

380.3

2,627.0 2,735.9 2,695.5 2,722.7 2,717.2 2,808.4 2,823.7
2,219.5 2,290.2 2,261.4 2,277.8 2,294.4 2,327.1 2,352.7 2,380.9
1,855.8 1,913.5 1,890.6 1,903.1 1,916.5 1,943.9 1,965.1 1,989.5
363.7

376.6

370.8

374.7

377.9

383.2

387.6

279.8
268.2
124.0
144.2
128 3

329.8
307.6
140.2
167.4
127 4

315.3
297.4
136.4
161.0
1166

327.4
315.9
144.1
171.7
122.3

309.0
289.0
131.8
157.1
126.9

367.4
328.3
148.5
179.8
143 8

15.9
3.1
8.4
127.7

40.0
-7.4
29.5
116.0

44.4
-5.4
23.3
118.7

49.5
-15.5
27,0
117.5

30.2
-9.7
29.7
113.8

36.0
1.0
38.1
114.0

26.5
-9.4
40.6
114.0

278.4

291.6

299.2

292.5

276.8

298.0

391.4

357.0
325.8
147.2
178.6
152 0

311.0

-16.6
42.6

3,073.8 3,201.7 3,138.1 3,178.8 3,211.6 3,278.3 3,286.0
341.2

351.0

342.7

347.6

363.3

350.5

355.0

357.3

2,732.6 2,850.7 2,795.4 2,831.3 2,848.3 2,927.8 2,931.0

310.8

328.8

322.6

324.1

330.1

338.4

338.4

344.9

2,421.8 2,521.9 2,472.8 2,507.1 2,518.2 2,589.5 2,592.6
2,048.6 2,106.1 2,081.0 2,096.4 2,109.5 2,137.4 2,159.4 2,182.3
1,711.3 1,757.9 1,738.0 1,749.7 1,760.2 1,783.7 1,801.8 1,821.7
337.3

348.2

343.0

346.6

349.3

353.8

357.6

229.9
207.3
81.1
126.2
1173

283.0
250.9
98.9
152.0
1177

255.7
227.3
90.2
137.1
1071

276.2
254.5
100.8
153.7
1134

278.5
248.6
96.6
152.0
1170

321.5
272.9
108.0
165.0
133 3

302.6
261.7
103.9
157.8
141 0

8.8
3.1
19.4
143.4

34.3
-7.4
39.5
132.9

30.1
-5.4
33.8
136.0

40.4
-15.5
37.1
134.6

35.0
-9.7
39.5
130.3

31.7
1.0
47.6
130.5

16.8
-9.4
50.2
130.6

360.6

...„

52.5

Billions of 1987 dollars
Gross domestic
product of
nonfinancial
corporate business ..
Consumption of fixed capital ..
Net domestic product
Indirect business tax and
nontax liability plus
business transfer
payments less subsidies

Domestic income

2,698.0 2,780.9 2,737.6 2,760.8 2,787.6 2,837.6 2,824.5
309.5 317.5 313.2 314.0 326.9 316.1 319.4
2,388.5 2,463.4 2,424.3 2,446.9 2,460.7 2,521.5 2,505.1

319.9

249.0 256.3 252.6 254.8 257.4 260.3 262.0
2,139.6 2,207.1 2,171.8 2,192.0 2,203.4 2,261.2 2,243.1

264.4

SURVEY OF CURRENT BUSINESS
Table 2.1.—Personal income and Its Disposition

July 1993 •

11

Table 2.2.—-Personal Consumption Expenditures by Major Type of
Product

[Billions of dollars]

[Billions of dollars]
Seasonally adjusted at annual rates
1991

1992

1992

I
Personal income ...
Wage and salary
disbursements
Commodity-producing
industries
Manufacturing
Distributive industries
Service industries
Government
Other labor income
Proprietors' income with
inventory valuation and
capital consumption
adjustments
Farm
Nonfarm

Seasonally adjusted at annual rates

1993

II

IV

1991

I

1992

1993

1992

4,828.3 5,058.1 4,980.5 5,028.9 5,062.0 5,160.9 5,237.6 5,288.6
2,812.; 2,918.1 2,877.6 2,901.3 2,923.5 2,969.9 3,005.8 3,034.8
737.4
556.9
647.4
883.9
543.6

743.2
565.
666.8
945.5
562.5

736.8
559.9
660.9
925.3
554.6

743.1
564.
662.9
933.9
561.4

742,
565.5
667.
949.1
564.3

750.6
572.8
675.8
973.9
569.6

754.4
760.2
576.:
579.3
685.0
691.0
988.2 1,003.3
578.2
580.3

288.3

305.7

299.2

303.6

307.9

312.:

316.5

368.0
35.8
332.;

404.5
39.5
364.9

393.6
40.1
353.6

398.4
38.5
359.9

397.4
31.5
365.9

428.4
48.1
380.4

441.9
52.9
389.0

320.8

442.7
48.4
394.4

Rental income of persons
with capital
consumption
adjustment

-10.4

4.

-4,

3.3

6.4

13.6

17.7

24.6

Personal dividend income

137.0

139.3

133.9

136.6

141.0

145.8

149.9

150.7

Personal interest income

700.6

670.2

684.8

675.!

663.;

657.8

656.4

654.9

771.1

866.1

842.7

859.7

874.1

888.0

909.9

414.1

405.7

412.1

417.1

421.6

434.1

436.9

27.5
18.1

40.2
19.1

39.7
20.2

41.7
18.7

40.4
18.5

39.1
18.8

36.4
19.7

107.0
285.7

106.4
270.7

106.4
280.8

106.6
291.5

108.6
299.9

112.0
307.7

113.0
315.8

22.0
220.2

23.3
262.4

23.0
247.7

23.4
257.4

23.6
267.9

23.3
276.6

23.6
284.1

24.3
291.5

Motor vehicles and parts ...
Furniture and household
equipment
Other
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services

3,887.7 4,095.8 4,022.8 4,057.1 4,108.7 4,194.8 4,234.7 4,301.0
446.1

480.4

469.4

470.6

482.5

499.1

498.8

519.3

185.4

203.7

198.9

200.7

201.7

213.6

211.2

227.7

170.4
90.2

180.9
95.8

176.3
94.1

176.3
93.5

182.4
98.5

188.4
97.2

188.8
98.9

192.7
98.9

1,251.5 1,290.7 1,274.1 1,277.5 1,292.8 1,318.6 1,320.8 1,329.7
617.7
209.0
105.5
11.7
307.7

630.9
221.8
105.4
12.8
319.8

627.9
216.5
102.8
11.6
315.4

623.2
217.4
105.4
13.8
317.7

627.3
224.3
107.7
13.0
320.5

645.2
229.0
105.8
12.7
325.7

644.1
225.5
107.5
13.7
330.0

649.1
227.1
104.9
13.3
335.3

2,190.1 2,324.7 2,279.3 2,309.0 2,333.3 2,377.1 2,415.1 2,452.0

36.4
19.9

101.3
242.1

Durable goods

922.0

382.0

Personal consumption
expenditures

Transfer payments to
persons
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

238.4
618.7

250.6
627.3

246.8
619.6

249.3
617.1

251.5
628.8

254.8
643.6

260.4
656.0

261.9
664.2

4,209.6 4,430.8 4,360.9 4,411.8 4,433.2 4,517.3 4,581,7 4,624.5

Less: Personal outlays

4,009.9 4,218.1 4,146.3 4,179.5 4,229.9 4,316.9 4,358.8 4,424.7

Equals: Personal saving
Addenda:
Disposable personal
income:
Total, billions of 1987
dollars
Per capita:
Current dollars
1987 dollars
Population (mid-period,
millions)

574.0
223.7
103.6

600.5
227.9
104.7

590.9
223.5
101.8

597.4
227.9
104.2

603.3
225.8
104.8

610.3
234.4
107.9

618.5
235.4
108.0

625.8
237.6
108.0

120.1
147.3
580.2
664.9

123.3
154.5
635.2
706.6

121.8
152.6
614.8
697.5

123.6
152.5
629.0
702.2

121.0
153.1
642.0
709.1

126.5
159.9
655.0
717.5

127.4
164.9
669.7
726.6

129.6
167.3
685.6
735.6

Table 2.3.—Personal Consumption Expenditures by Major Type of
Product in Constant Dollars
[Billions of 1987 dollars]

Equals: Disposable personal
income

Personal consumption
expenditures
Interest paid by persons ....
Personal transfer payments
to rest of the world (net)

Housing
Household operation
Electricity and gas
Other household
operation
Transportation
Medical care
Other

3,887.7 4,095.8 4,022.8 4,057.1 4,108.7 4,194.8 4,234.7 4,301.0
112.1 113.3 112.0
113.0 113.1
112.5
111.2 111.7
9.7

10.3

10.2

10.4

10.0

10.4

11.0

10.6

199.6

212.6

214.6

232.3

203.3

200.4

222.9

199.8

3,509.0 3,585.1 3,565.7 3,576.0 3,580.5 3,618.2 3,642.3 3,653.7
16,658 17,346 17,143 17,297 17,332 17,610 17,818 17,937
13,886 14,035 14,017 14,021 13,998 14,105 14,165 14,172
252.7

255.4

254.4

255.1

255.8

256.5

257.1

257.8

4.7

4.8

4.9

5.3

4.6

4.4

4.9

4.3

Personal saving as
percentage of disposable
personal income

NOTE—Percent changes from preceding period for selected items in this table are shown in table 8.1.




Personal consumption
expenditures
Durable goods
Motor vehicles and parts ...
Furniture and household
equipment
Other
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services
Housing
Household operation
Electricity and gas
Other household
operation
Transportation
Medical care
Other

3,240.8 3,314.0 3,289.3 3,288.5 3,318.4 3,359.9 3,366.5 3,398.1
414.7

439.1

432.3

430.0

439.8

454.4

453.5

468.8

171.0

182.2

181.5

180.2

179.0

188.0

184.9

196.5

168.6
75.0

179.6
77.4

174.4
76.5

174.4
75.4

181.5
79.3

188.0
78.3

189.9
78.8

194.1
78.1

1,042.4 1,054.1 1,049.6 1,045.6 1,052.0 1,069.4 1,062.2 1,068.6
515.8
181.3
85.2
9.7
250.5

518.4
188.3
85.5
10.9
251.0

518.9
184.1
85.7
10.2
250.7

513.5
184.4
85.8
12.0
249.8

514.3
190.8
86.0
10.9
250.1

526.7
193.7
84.6
10.8
253.6

522.6
188.2
84.8
11.7
254.9

523.9
190.8
84.9
11.3
257.7

1,783.7 1,820.7 1,807.3 1,812.9 1,826.6 1,836.2 1,850.8 1,860.7
478.2
204.7
95.2

484.4
204.5
94.3

481.2
201.6
92.9

483.3
204.2'
94.5

485.8
205.6
94.0

487.2
206.7
95.7

489.2
208.2
96.2

490.9
207.0
94.4

109.6
121.2
438.8
540.7

110.3
122.0
455.8
554.1

108.7
120.3
449.6
554.6

109.7
121.3
453.7
550.5

111.6
124.1
458.1
553.1

111.0
122.2
461.7
558.3

112.1
122.9
466.6
563.8

112.6
125.0
471.3
566.5

12 • July 1993

SURVEY OF CURRENT BUSINESS

Table 3.2.—Federal Government Receipts and Expenditures

Table 3.3.—State and Local Government Receipts and Expenditures

[Billions of dollars]

[Billions of dollars]
Seasonally adjusted at annual rates

Seasonally adjusted at annual rates
1991

Receipts

1992

1992

1,122.2 1,160.4 1,143.3 1,149.8 1,155.4 1,193.1 1,213.6

Personal tax and nontax
receipts
Income taxes
Estate and gift taxes
Nontaxes

473.4
461.4
11.0
1.0

474.1
461.7
11.2
1.1

468.4
456.4
10.9
1.1

464.2
452.3
10.8
1.1

475.5
462.9

Corporate profits tax accruals
Federal Reserve banks
Other

102.5
20.8
81.7

115.0
18.3
96.7

112.2
19.3
92.9

118.3
19.0
99.3

78.2
45.6
17.2
15.3

81.5
46.4
18.6
16.5

79.2
46.0
17.1
16.1

79.8
46.1
17.9
15.8

Indirect business tax and
nontax accruals
Excise taxes
Customs duties
Nontaxes
Contributions for social
insurance
Expenditures

1991

1993

468.2

489.7

483.5

487.4

488.2
475.3
11.7

1.2

499.1
486.1
11.6
1.4

108.2
17.7
90.5

121.4

17.0

104.1

103.4

81.3
46.6
18.7
16.0

85.8
47.1
20.6
18.1

87.1
49.2
21.6
16.3

505.8
490.2

120.4

17.3

Receipts

11.5
1.1

490.4

497.7

506.9

14.1

1.5

Corporate profits tax accruals

89.6
49.2
23.0
17.5
509.5

1,332.7 1,458.4 1,432.5 1,452.7 1,459.8 1,488.6 1,485.6 1,485.6

19.4

21.5

25.2

24.2

397.0
189.0
167.7
40.4

422.7
200.8
180.5
41.4

414.6
197.3
175.6
41.7

155.5

156.9

18.0
19.6

117.3
18.3
19.9

118.1
18.6
20.2

25.8

23.6

27.0

26.8

417.8
198.5
178.9
40.4

425.1
201.6

433.2
205.8
185.1
42.3

207.1
188.0

182.3
41.2

435.9
40.9

158.4
119.0
19.0
20.4

441.6
209.6

190.5
41.5

60.6

63.7

62.7

63.4

64.0

64.8

65.4

66.1

153.3

173.0

165.1

174.1

174.0

178.7

178.2

184.2

Expenditures

760.7

822.3

801.2

816.3

830.8

840.8

853.2

869.3

643.2

665.8

658.0

664.3

669.0

671.7

675.4

683.8

435.6
207.6

454.9
210.8

446.2
211.8

453.5
210.8

457.2
211.8

462.8
208.9

467.8
207.6

473.0
210.8

Federal grants-in-aid

233.6

220.8

229.4

238.7

245.5

253.5

261.0

-43.8
66.5

-45.4
65.4

-44.3
66.1

-43.3
66.8

-42.3
67.5

-41.3
68.1

-40.8
68.8

112.1

110.3

110.8

110.4

110.1

109.7

109.5

109.6

9.5

10.0

9.7

10.0

10.1

10.2

10.4

10.4

-22.6
.4

-23.3
.4

-22.5
.4

-23.2
.4

-23.6

-23.9

-24.1

-24.3

23.0

23.7

22.9

23.6

24.0

24.3

24.5

24.7

0

0

0

0

23.9




153.3
115.7

198.0

641.4

12.0

Social insurance funds
Other

152.9
115.8
17.7

-48.4
63.7

622.6
610.6

13.6

Surplus or deficit (-),
national income and
product accounts

151.1
114.6
17.4
19.1

Net interest paid
Interest paid
Less: Interest received by
government

619.5
605.9

12.0

Less: Wage accruals less
disbursements

153.2
115.8
17.9
19.5

863.3

Transfer payments to persons

609.8
597.8

Subsidies less current surplus
of government enterprises .
Subsidies
Less: Current surplus of
government enterprises..

145.4
110.3
16.7
18.4

859.2

652.0
635.7
16.3

623.3
608.0
15.3

617.6

153.3

173.0

165.1

174.1

174.0

178.7

178.2

184.2

186.9
220.9
181.9
39.0

186.7
219.9
181.1
38.9

186.8
220.3

187.5
221.9
183.1

184.8
216.4
177.1

182.6

214.1

38.9

187.8
221.1
182.0
39.1

39.2

39.0

179.0
210.7
173.4
37.3

34.0

33.2

33.4

34.5

33.3

31.6

31.4

31.8

23.1
29.1

26.2
30.6

25.7
30.9

26.9
31.6

20.2
24.7

32.2
35.3

40.4
43.4

29.9
35.8

6.0

4.4

5.2

4.7

4.5

3.2

3.0

5.9

182.0
38.2

840.0

643.3
631.3
12.0

521.9
550.2
-28.3

Net interest paid
Interest paid
To persons and business
To rest of the world (net)
Less: Interest received by
government

834.0

440.6
305.0
135.6

Transfer payments (net)
To persons
To rest of the world (net) ...
Grants-in-aid to State and
local governments

817.8

451.6
318.2
133.4

447.3
323.8
123.6

455.2
319.6
135.7

Contributions for social
insurance

837.7

1993

Purchases
Compensation of
employees
Other

Purchases
—National defense
Nondefense

444.8
311.7
133.1

Indirect business tax and
nontax accruals
Sales taxes
Property taxes
Other

777.9

1992

441.1
304.2
136.9

449.1
315.8
133.4

445.0
313.6
131.4

Personal tax and nontax
receipts
Income taxes
Nontaxes
Other

1992

175.1

-.1

Less: Dividends received by
government
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
Social insurance funds
Other

-210.4 -298.0 -289.2 -302.9 -304.4 -295.5 -272.1
30.4
28.4
28.5
30.1
34.5
32.0
50.1
-260.6 -328.4 -317.6 -331.3 -334.5 -330.0 -304.1

32.5

17.1

15.5

t6.6

17.7

9.2

18.3

10.1

60.3
-43.1

57.5
-42.1

58.4
-41.8

58.0
-40.3

57.2
-48.0

56.5
-38.1

55.6
-45.5

55.2

July 1993

SURVEY OF CURRENT BUSINESS

•

13

Table 3.7B.—Government Purchases by Type

Table 3.8B.—Government Purchases by Type in Constant Dollars

[Billions of dollars]

[Billions of 1987 dollars]

Seasonally adjusted at annual rates

1991

1992

Seasonally adjusted at annual rates

1993

1992

1991

1992

1992

I
Government purchases

1,090.5 1,114.9 1,103.1 1,109.1 1,124.2 1,123.3 1,116.6 1,124.4
447.3

449.1

445.0

444.8

455.2

451.6

441.1

440.6

National defense
Durable goods
Nondurable goods
Services
Compensation of
employees
Military
Civilian
Other services
Structures

323.8
84.1
12.2
222.5

315.8

313.6

79.5
10.3
218.7

311.7
76.7

319.6
80.1

318.2

79.0
11.2
219.9

12.1
216.8

11.7
222.0

79.8
10.5
222.2

304.2
74.5
8.8
215.9

305.0
72.2
9.3
218.2

132.6
88.6
44.0
90.0
4.9

135.4
88.5
46.9
84.6
5.7

135.2
88.9
46.3
83.4
5.2

135.2
88.4
46.8
81.6
6.0

135.2
88.2
47.0
86.8
5.7

135.8
88.4
47.4
86.4
5.7

139.9
90.8
49.1
75.9
5.0

139.5
90.1
49.4
78.7
5.2

Nondefense
Durable goods
Nondurable goods
Commodity Credit
Corporation
inventory change ...
Other nondurables
Services
Compensation of
employees
Other services
Structures

123.6
6.8
7.0

133.4
7.6
8.3

131.4
7.2
7.1

133.1
7.4
8.0

135.7
8.0
9.2

133.4

136.9
8.6
9.2

135.6

7.9
9.0

.4
6.6
100.4

.5
7.8
106.4

-.7
7.9
106.2

-.2
8.2
107.2

1.5
7.7
106.6

1.6
7.4
105.8

1.8
7.4
109.6

1.8
7.5

109.3

59.4
41.0
9.4

63.7
42.8
11.0

62.9
43.2
10.9

63.5
43.7
10.4

63.8
42.8
11.9

64.4
41.4
10.8

66.7
43.0
9.6

67.0
42.3
9.6

643.2

665.8

658.0

664.3

669.0

671.7

675.4

683.8

36.4
58.0
462.1

37.0
58.5
477.2

36.8
57.3
470.4

37.0
58.7
475.7

37.2
59.2
478.9

37.2
58.6
483.7

37.4
59.0
487.3

37.9
60.0
490.9

435.6
26.6
86.7

454.9
22.2
93.1

446.2
24.2
93.5

453.5
22.2
92.9

457.2
21.7
93.7

462.8
20.9
92.2

467.8
19.5
91.7

473.0
17.9
95.0

Federal

State and local
Durable goods
Nondurable goods
Services
Compensation of
employees
Other services
Structures

7.4
9.3

II

1993

III

IV

I

II

941.0

937.8

937.0

934.2

943.0

936.8

919.6

920.1

388.3

375.6

375.3

372.7

379.5

375.0

357.0

354.3

National defense
Durable goods
Nondurable goods
Services
Compensation of
employees
Military
Civilian
Other services
Structures .

282.8
78.6
10.4
189.6

265.0
73.7
10.2
176.3

265.6
74.1
9.7
177.2

262.1
71.5
11.0
174.5

267.4
74.8
10.3
177.5

265.0
74.6
9.7
176.0

245.9
68.1
7.9
165.7

245.0
65.0
8.8
167.0

108.6
72.9
35.7
81.0
4.2

102.3
66.4
35.9
74.0
4.8

103.5
67.8
35.7
73.7
4.5

102.5
66.6
35.9
72.0
5.1

101.8
65.9
35.9
75.7
4.8

101.3
65.4
35.9
74.7
4.8

100.2
64.4
35.8
65.5
4.2

99.2
63.4
35.8
67.7
4.3

Nondefense
Durable goods
Nondurable goods
Commodity Credit
Corporation
inventory change ...
Other nondurables
Services
Compensation of
employees
Other services
Structures

105.5
6.8
6.5

110.6
8.1
7.5

109.7
7.5
6.9

110.6
7.8
7.4

112.1
8.4
7.8

109.9
8.6
7.9

111.1
9.2
8.2

109.3
8.0
8.1

.7
5.9
83.9

.5
7.0
85.3

-.1
7.0
85.6

.1
7.3
86.3

.9
6.9
85.5

1.2
6.7
84.1

1.7
6.5
85.4

1.5
6.6
84.9

48.6
35.4
8.2

49.2
36.1
9.7

49.0
36.5
9.7

49.3
36.9
9.2

49.3
36.2
10.4

49.3
34.8
9.4

49.3
36.1
8.3

49.3
35.6
8.2

552.7

562.2

561.8

561.5

563.5

561.9

562.6

565.8

32.7
50.3
391.3

32.8
50.6
393.7

32.7
50.5
391.6

32.7
50.6
392.9

32.8
50.7
394.6

32.8
50.8
395.7

32.7
50.7
396.9

32.8
50.7
398.6

357.5
33.8
78.3

360.2
33.5
85.0

357.7
33.9
86.9

359.5
33.4
85.2

361.2
33.4
85.4

362.4
33.3
82.6

363.5
33.4
82.3

365.0
33.5
83.7

Government purchases
Federal

State and local
Durable goods
Nondurable goods
Services .
Compensation of
employees

Other services
Structures

Table 3.10.—National Defense Purchases

Table 3.11.—National Defense Purchases in Constant Dollars

[Billions of dollars]

[Billions of 1987 dollars]

National defense
purchases
Durable goods
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment ..
Other
Other durable goods
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods
Services
Compensation of
employees
Military
Civilian
Other services
Contractual research and
development
Installation support1
Weapons support2
Personnel support3
Transportation of
material
Travel of persons
Other
Structures
Military facilities
Other

323.8

315.8

313.6

311.7

319.6

318.2

304.2

305.0

84.1

79.0

79.5

76.7

80.1

79.8

74.5

72.2

78.1
27.0
16.4
12.1

73.2
22.7
16.2
11.4

73.5
23.1
15.8
11.2

71.3
22.7
15.7
11.3

74.0
22.4
16.7
11.4

74.0
22.4
16.6
11.6

69.9
20.7
15.5
11.1

4.7

4.5

4.3

4.1

5.0

4.7

4.2

6.7
11.2

6.5
11.9

6.5
12.5

6.2
11.3

6.9
11.7

6.6
12.1

6.6
11.8

6.0

5.8

6.0

5.4

6.1

5.8

4.6

67.0
21.4
13.2
11.8
3.0
5.8
11.8
5.2

12.2

11.2

10.3

12.1

11.7

10.5

8.8

9.3

5.0
3.6
3.5

3.7
4.0
3.4

4.1
2.6
3.6

3.8
5.1
3.2

4.0
4.2
3.5

3.0
4.2
3.3

3.0
3.2
2.6

3.4
3.6
2.3

222.5

219.9

218.7

216.8

222.0

222.2

215.9

218.2

132.6
88.6
44.0
90.0

135.4
88.5
46.9
84.6

135.2
88.9
46.3
83.4

135.2
88.4
46.8
81.6

135.2
88.2
47.0
86.8

135.8
88.4
47.4
86.4

139.9
90.8
49.1
75.9

139.5
90.1
49.4
78.7

25.6
23.1
11.2
13.0

23.2
23.9
12.1
11.9

22.0
24.2
11.5
11.6

22.8
23.0
12.0
11.6

23.8
24.9
12.5
12.2

24.4
23.4
12.3
12.3

21.5
21.4
10.5
10.8

19.5
23.6
11.5
11.6

9.3
8.5
-.8

6.0
8.0
—5

6.2
8.3
-.4

5.4
7.3
-.4

6.0
8.1
-.8

6.2
8.3
-.5

5.4
7.1
-.7

5.8
7.5
-.7

4.9

5.7

5.2

6.0

5.7

5.7

5.0

5.2

2.5
2.4

3.4
2.2

3.1
2.1

3.7
2.3

3.4
2.3

3.6
2.1

3.0
2.0

3.3
1.9

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.




National defense
purchases
Durable goods
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment ..
Other
Other durable goods
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods
Services
Compensation of
employees
Military
Civilian
Other services
Contractual research and
development
Installation support1
Weapons support2
Personnel support3
Transportation of
material
Travel of persons
Other
Structures.
Military facilities
Other

282.8

265.0

265.6

262.1

267.4

265.0

245.9

245.0

78.6

73.7

74.1

71.5

74.8

74.6

68.1

65.0

72.6
24.9
16.8
10.3

67.5
20.2
17.3

67.9
20.9
16.6

65.7
20.7
16.4

68.2
20.0
17.7

68.1
19.3
18.5

62.9
17.5
16.3

9.6
4.0

9.6
3.8

9.6
3.7

9.6
4.5

9.8
4.1

9.3
3.6

6.0
10.3

6.0
10.9

5.7

6.3

9.7
5.8

6.3
10.1
6.6

6.1
10.3

6.3

6.1
10.1
5.3

59.2
17.9
13.7
9.9
2.4
5.3
9.9
5.8

10.4

10.2

9.7

11.0

10.3

9.7

7.9

8.8

3.7
3.7
3.0

3.1
4.1
3.0

3.7
2.9
3.1

3.2
5.0
2.8

3.1
4.1
3.1

2.4
4.3
2.9

2.7
3.0
2.2

3.0
3.8
2.0

189.6

176.3

177.2

174.5

177.5

176.0

165.7

167.0

108.6
72.9
35.7
81.0

102.3
66.4
35.9
74.0

103.5
67.8
35.7
73.7

102.5
66.6
35.9
72.0

101.8
65.9
35.9
75.7

101.3
65.4
35.9
74.7

100.2
64.4
35.8
65.5

99.2
63.4
35.8
67.7

23.4
20.3

19.9
21.3

20.3
20.2
10.2

21.1
21.6
10.5

21.4
20.3
10.2

18.8
18.7

17.0
20.6

8.9

9.1

9.1

8.6
8.1

9.4
8.7

4.3
6.3

9.9
6.0

6.4

9.8

20.7
20.9
10.2

10.3

9.0

9.8
8.8

10.3

7.5
-.6

6.7
7.1
-.4

6.9
7.4
-.3

6.1
6.7
-.3

6.8
7.3
-.6

6.9
7.2
-.4

5.9
6.0
-.6

6.3
6.2
-.6

4.2

4.8

4.5

5.1

4.8

4.8

4.2

4.3

2.3
1.9

3.0
1.8

2.8
1.7

3.2
1.9

3.0
1.8

3.2
1.6

2.6
1.6

2.8
1.5

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, other than research and
development.
3. Includes compensation of foreign personnel, consulting, training, and education.

SURVEY OF CURRENT BUSINESS

14 • July 1993

Table 4.1.—Foreign Transactions in the National Income and Product
Accounts

Table 4.2.—Exports and Imports of Goods and Services and
Receipts and Payments of Factor Income in Constant Dollars

[Billions of dollars]

[Billions of 1987 dollars]

Seasonally adjusted at annual rates
1991

1992

III
Receipts from rest of the world
Exports of goods and services
Merchandise1
Durable
Nondurable
Services1
2

Receipts of factor income

1991

636.3
444.8
298.7
146.1
191.5

628.1
437.3
293.2
144.1
190.8

625.4
435.2
292.8
142.4
190.2

639.0
446.7
298.3
148.3
192.4

652.7
460.0
310.6
149.4
192.7

Payments to rest of the world ...

649.4
451.2
306.4
144.8
198.3

662.1
461.3
316.8
144.5
200.8

741.7 765.1 761.0 756.7 767.9 775.0 775.9

666.7
544.1
345.8
198.3
122.6

636.2
513.1
330.2
182.9
123.1

662.5
537.0
339.1
197.9
125.5

675.0
559.7
352.9
206.7
115.3

693.2
566.8
361.0
205.8
126.4

698.9
572.1
369.9
202.1
126.8

Payments of factor income3

-13.3
9.7

712.0
584.4
374.0
210.4
127.6

126.0 117.6 113.3 124.3 115.3 117.3 117.1

Transfer payments (net)
From persons (net)
From government (net)
From business
Net foreign investment

-28.3
5.3

30.8
10.3
15.3
5.2

27.4
10.2
12.0
5.3

29.3
10.4
13.6
5.3

27.1
10.0
12.0
5.1

39.2

10.4
23.9
5.0

27.6
11.0
12.0
4.6

Exports of goods and services
Merchandise1 .. ..
Durable
Nondurable
Services1

539.4
392.5
266.4
126.1
146.9

573.2
417.6
284.7
132.9
155.6

II

III

IV

I

II

565.4
408.1
276.1
131.9
157.3

563.4
408.0
278.4
129.6
155.4

575.9
420.4
285.8
134.6
155.5

588.3
434.1
298.5
135.6
154.2

584.2
426.7
294.7
132.0
157.5

593.8
435.9
304.2
131.8
157.8

32.1
10.6
16.3
5.2

Receipts of factor income2

120.8 105.4 109.7 107.6 105.0

Imports of goods and services
Merchandise1 . .
Durable
Nondurable
Services1

143.5 128.8 132.9 131.3 128.8 122.3 126.5

620.0
499.9
315.3
184.6
120.1

1993

I

Capital grants received by the United
States (net)

Impels of goods and services .
Merchandise1
Durable
Nondurable
Services1

1992

1992

IV

741.7 765.1 761.0 756.7 767.9 775.0 775.9
598.2
423.1
282.0
141.0
175.1

Seasonally adjusted at annual rates

1993

1992

561.2
463.5
296.7
166.8
97.7

615.0
514.3
334.2
180.1
100.7

Payments of factor income3

105.4

95.2

586.8
488.0
316.3
171.8
98.8

99.2 101.6

607.3
507.8
327.0
180.8
99.5

628.6
526.4
342.1
184.3
102.2

637.3
535.1
351.5
183.6
102.2

654.5
551.0
363.6
187.3
103.5

92.7 101.0

93.0

94.1

93.0

663.6
561.7
368.8
192.8
102.0

1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services.
2. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
3. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.

9.0 -49.9 -16.0 -59.4 -49.6 -74.7 -67.7

1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services.
2. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
3. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.

Table 4.3.—Exports and Imports of Merchandise by End-Use Category

Table 4.4.—Exports and Imports of Merchandise by End-Use Category
in Constant Dollars

[Billions of dollars]

[Billions of 1987 dollars]

Exports of merchandise
Foods, feeds, and beverages
Industrial supplies and materials
Durable goods
Nondurable goods
Capital goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Imports of merchandise
Foods, feeds, and beverages
Industrial supplies and materials, except
petroleum and products
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Addenda:
Exports of agricultural products1
Exports of nonagricultural products ...
Imports of nonpetroleum products
1. Includes parts of line 2, 5, and line 13.




423.1 444.8 437.3 435.2 446.7 460.0 451.2 461.3
35.7 40.6 40.2 37.8 42.3 42.2 41.2 40.2
106.4 105.3 104.2 104.8 106.6 105.5 103.7 106.5
37.2 36.8 36.1 35.7 38.0 37.4 37.5 40.0
69.2 68.4 68.1 69.1 68.6 68.0 66.2 66.6
167.0 176.8 176.4 173.9 173.7 183.3 179.2 184.9
36.4 37.9 42.6 37.7 33.3 37.8 33.8 35.7
27.3 28.7 27.4 28.6 28.9 30.1 28.9 28.7
103.3 110.2 106.4 107.6 111.5 115.4 116.5 120.5
40.0 47.2 42.9 46.2 49.0 50.7 51.1 52.1
45.9 50.4 47.9 48.5 51.3 53.8 52.0 53.4
23.8 25.6 24.9 25.0 25.7 26.9 26.6 27.7
22.2 24.8 23.0 23.6 25.6 26.9 25.4 25.6
27.9 24.5 25.6 24.0 23.7 24.5 24.0 24.2
13.9 12.2 12.8 12.0 11.9 12.3 12.0 12.1
13.9 12.2 12.8 12.0 11.9 12.3 12.0 12.1

499.9 544.1 513.1 537.0 559.7 566.8 572.1 584.4
26.5

28.0

26.8

29.1

28.3

27.7

27.5

27.4

Exports of merchandise
Foods, feeds, and beverages
Industrial supplies and materials
Durable goods
Nondurable goods
Capital goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Imports of merchandise

392.5 417.6 408.1 408.0 420.4 434.1 426.7 435.9
31.3 36.0 35.1 33.0 38.1 37.9 36.7 35.8
95.5 96.7 97.5 96.7 96.6 95.9 94.2 96.0
32.4 31.5 31.7 30.7 32.1 31.5 30.7 32.0
63.1 65.2 65.8 66.0 64.5 64.4 63.5 64.1
163.7 178.1 173.1 174.0 177.1 188.1 185.3 191.6
30.9 31.3 35.5 31.4 27.4 31.0 27.6 28.9
40.6 50.1 44.1 48.3 52.1 56.0 55.6 58.0
92.2 96.6 93.5 94.4 97.6 101.0 102.1 104.8
36.3 42.0 38.4 41.1 43.5 44.8 45.0 45.8
40.9 43.3 41.3 41.9 44.1 45.8 44.3 45.5
21.6 22.4 21.6 21.9 22.6 23.3 23.1 24.1
19.2 20.9 19.7 20.0 21.5 22.5 21.2 21.3
24.8 21.6 22.8 21.2 20.9 21.6 21.1 21.2
12.4 10.8 11.4 10.6 10.5 10.8 10.5 10.6
12.4 10.8 11.4 10.6 10.5 10.8 10.5 10.6
463.5 514.3 488.0 507.8 526.4 535.1 551.0 561.7

24.9

27.2

26.4

26.4

75.6 82.3 80.9 81.4 82.4 84.5 86.4 86.2
36.3 39.7 39.6 38.9 39.4 40.8 41.9 41.1
39.2 42.6 41.3 42.5 42.9 43.6 44.5 45.1
51.2 51.0 41.5 51.7 56.6 54.3 50.4 55.1
120.7 134.0 125.1 131.4 138.0 141.4 142.3 146.5
10.7 11.0
11.7 12.7 12.1 13.5 12.3 13.1
26.1 31.6 27.7 30.7 33.8 34.2 35.5 36.3
82.9 89.6 85.4 87.2 91.9 94.1 96.1 99.2
84.9 90.8 87.8 89.5 91.2 94.6 99.6 100.6
108.0 122.8 116.2 119.2 128.6 127.1 129.2 130.2
56.8 63.7 60.2 62.0 67.0 65.6 67.8 66.6
51.2 59.1 56.0 57.3 61.6 61.5 61.3 63.6
33.0 35.4 34.9 34.7 34.8 37.3 36.6 38.3
16.5 17.7 17.4 17.4 17.4 18.6 18.3 19.2
16.5 17.7 17.4 17.4 17.4 18.6 18.3 19.2

Foods, feeds, and beverages
Industrial supplies and materials, except
petroleum and products
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods

65.5 71.8 71.4 70.8 71.4 73.5 75.2 75.4
31.3 34.0 34.7 32.7 33.3 35.2 35.4 34.8
38.1 38.3 39.8 40.6
34.2 37.8 36.7 38.1
48.6 50.6 46.7 50.9 52.5 52.1 52.9 55.8
124.4 150.5 135.6 146.9 157.0 162.5 167.9 174.4
10.0 10.5 10.0 11.2 10.1 10.7
8.9
8.7
41.1 59.6 48.6 56.2 65.2 68.1 73.1 77.7
73.4 80.4 77.0 79.4 81.7 83.6 86.1 87.7
75.7 78.3 76.4 77.7 78.4 80.9 85.4 85.3
95.4 106.0 102.2 103.5 110.2 108.0 111.1 111.5
50.6 55.8 54.1 54.3 58.2 56.7 58.8 57.6
44.8 50.1 48.0 49.2 52.1 51.2 52.3 53.9
29.3 31.1 30.9 30.7 30.4 32.4 32.1 33.4
14.6 15.5 15.4 15.3 15.2 16.2 16.0 16.7
14.6 15.5 15.4 15.3 15.2 16.2 16.0 16.7

40.1 44.4 43.3 41.9 46.3 46.1 44.1 43.3
382.9 400.4 394.0 393.3 400.3 413.8 407.1 418.0
448.7 493.1 471.6 485.3 503.1 512.5 521.6 529.3

Addenda:
Exports of agricultural products1
Exports of nonagricultural products ...
Imports of nonpetroleum products

35.5 40.0 38.7 37.6 42.2 41.6 39.3 38.9
357.0 377.6 369.4 370.4 378.2 392.4 387.4 397.1
414.8 463.8 441.3 456.8 473.9 483.0 498.1 505.9

1.Includes parts of line 2, 5, and line 13.

24.5

26.1

25.8

25.9

SURVEY OF CURRENT BUSINESS

July 1993 •

15

Table 5.1.—Gross Saving and Investment
[Billions of dollars]
Seasonally adjusted at annual rates
1991

1992

1992

1993

III

II

I

I

IV

II

708.2

Gross saving
Gross private saving
Personal saving
Undistributed corporate
profits with inventory
valuation and capital
consumption adjustments
Undistributed profits
Inventory valuation
adjustment
Capital consumption
adjustment
Corporate consumption of
fixed capital
Noncorporate consumption
of fixed capital
Wage accruals less
disbursements

686.3

677.5

682.9

696.9

687.9

732.8

901.5
199.6

968.8
212.6

950.1
214.6

968.1
232.3

992.1
203.3

965.0
200.4

994.8
222.9

75.8
64.2

104.3
82.1

104.0
86.2

97.7
86.1

91.2
71.1

124.1
85.0

116.8
85.5

3.1

-7.4

-5.4

-15.5

-9.7

1.0

-9.4

199.8

-16.6

Capital grants received by
the United States (net)

29.5

23.3

27.0

29.7

38.1

40.6

42.6

394.8

386.1

391.2

407.2

394.7

400.0

403.3

243.1

258.6

245.3

247.0

290.4

251.8

261.2

258.4

-6.0

-6.0

0

-193.3 -282.5 -272.6 -285.2 -295.2 -277.2
-210.4 -298.0 -289.2 -302.9 -304.4 -295.5
17.1
9.2
17.7
15.5
16.6
18.3

Government surplus or
deficit (-), national
income and product
accounts ....
Federal . .
State and local

8.4
383.0

262.0
272.1
10.1

-1.5

0

0

0

0

0

0

0

0

0

0

0

0

730.1

Statistical discrepancy

706.5

713.8

732.0

729.5

776.3

758.5

770.4
-49.9

722.4
-16.0

773.2
-59.4

781.6
-49.6

804.3
-74.7

844.0
-67.7

831.3

21.9

Gross private domestic
investment
Net foreign investment

720.4

721.1
9.0

Gross investment

34.1

29.0

30.9

35.1

41.7

43.4

Table 5.4.—Fixed Investment by Type

Table 5.5.—Fixed Investment by Type in Constant Dollars

[Billions of dollars]

[Billions of 1987 dollars]
Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

1991

1992

1991

1993

1992

1992

1992
I

Fixed investment

731.3 766.0 738.2 765.1 766.6 794.0 809.0 825.0

Nonresidential

541.1 548.2 531.0 550.3 549.6 562.1 573.8 593.1

Structures

180.1 168.4 170.1 170.3 166.1 167.0 168.0 171.9

Nonresidential buildings, including
farm
Utilities
Mining exploration, shafts, and
wells
Other structures
Producers' durable equipment
Information processing and related
equipment
Computers and peripheral
equipment1
Other
Industrial equipment
Transportation and related
equipment
Other
Residential
Structures
Single family
Multifamily
Other structures
Producers' durable equipment

127.4 111.7 115.8 114.4 108.1 108.5 109.1 111.6
28.6 31.0 30.5 30.7 31.1 31.7 33.6 35.0
15.3
8.8

13.9
11.8

13.4
11.8

13.6
13.3

14.9
11.9

13.6
11.7

13.4
11.9

360.9 379.9 360.8 380.0 383.5 395.1 405.8 421.3
123.6 135.6 129.9 131.4 139.3 142.0 143.9 146.2
34.2
89.4
81.3

40.0
95.6
80.8

37.6
92.3
78.3

39.6
91.7
79.0

41.4 41.6
97.9 100.4
80.8 85.1

85.1
71.0

91.8
7.1.7

82.3
70.4

98.3
71.3

91.2
72.2

47.6
96.3
85.8

47.4
98.7
87.8

95.3 100.0 107.5
72.8 76.0 79.8

190.3 217.7 207.2 214.8 217.0 231.9 235.2 231.9
183.7 210.7 200.3 207.9 209.9 224.7 228.1 224.6
95.4 117.9 111.7 115.1 117.4 127.2 131.8 128.0
10.4 10.0
15.1 12.9 12.9 14.2 12.8
73.1 80.0 75.8 78.6 79.7 85.9 85.9 86.6
6.6

7.0

1. Includes new computers and peripheral equipment only.




13.5
10.3

6.9

6.9

7.1

7.2

7.2

7.2

Fixed investment
Nonresidential

1993
III

IV

670.4 707.6 681.4 705.9 710.0 733.3 750.5 763.0
500.2 515.0 495.8 514.7 518.7 530.9 547.5 564.9

Structures
Nonresidential buildings, including
farm
Utilities
Mining exploration, shafts, and
wells
Other structures

157.6 146.8 149.4 149.1 144.7 144.0 144.0 145.7

Producers' durable equipment
Information processing and related
equipment
Computers and peripheral
equipment1
Other
Industrial equipment
Transportation and related
equipment
Other

342.6 368.2 346.4 365.6 374.0 386.9 403.5 419.2

Residential
Structures
Single family
Multifamily
Other structures
Producers' durable equipment

113.0
25.0

11.7
7.9

98.6 103.0 101.4
26.8 26.5 26.5

95.2
26.8

94.8
27.2

94.4
28.6

95.7
29.3

10.4
10.7

10.6
12.0

11.5
10.5

10.5
10.5

10.2
10.5

10.7
10.7

10.5
9.4

136.1 160.3 148.2 153.8 167.1 172.0 182.0 187.7

51.4
84.7

70.8
89.4
67.2

61.5
86.8
65.7

67.9
85.9
65.9

75.5
91.6
66.5

78.5
93.5
70.6

92.6
89.3
71.4

96.4
91.3
72.5

75.0
62.5

78.8
61.9

71.2
61.2

84.1
61.8

78.2
62.1

81.9
62.5

85.0
65.2

91.1
67.9

170.2 192.6 185.6 191.2 191.3 202.3 203.0 198.0
163.9 185.9 179.0 184.6 184.6 195.4 196.1 191.1
85.5 104.5 100.6 102.9 103.7 110.9 113.6 109.1
13.6 11.5 11.6 12.7 11.3 10.2
8.9
8.6
64.8 69.9 66.8 69.0 69.6 74.4 73.5 73.5
6.4

6.7

1. Includes new computers and peripheral equipment only.

6.6

6.6

6.7

6.9

6.9

6.9

l6 • July

SURVEY OF CURRENT BUSINESS
Table 5.11.—Change in Business Inventories by Industry in Constant
Dollars

Table 5.10.—Change in Business Inventories by Industry
[Billions of dollars]

[Billions of 1987 dollars]
Seasonally adjusted at annual rates

Seasonally adjusted at annual rates
1991

1992

1992

1991

1993

1992

1993

1992

I
Change in business inventories

-10.2

Farm

4.4 -15.8

8.1

15.0

10.3

34.9

6.3

-2.4

1.7

5.3

4.1

2.3

-2.3

2.2

Nonfarm
Change in book value
Inventory valuation adjustment
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods

2.2 -13.3
6.4
9.7
12.7 -5.6 28.8 22.9
-14.0
3.8 -10.5 -7.8 -22.4 -13.2

-7.7
-9.3
1.6

6.2 32.6
8.6
4.6 47.1 32.0
1.6 -14.5 -23.4
3.4 -16.7
-5.8 -20.0 -2.4 -1.8
2.4
2.4
3.3
9.3

3.8
5.7
-1.9

-3.0
2.8
-5.8

-10.3

-7.5 -7.8 -10.1
-11.3 -12.6 -15.1
3.8
4.8
5.0

.9

-6.7
-10.1
3.3

-1.5
2.4
1.8
-1.4
3.1
-.8
-.1
-.7

Retail trade
Durable goods
Automotive
Other
Nondurable goods

2.2
-1.7
-1.4
-.4

Other
Durable goods
Nondurable goods

-6.1
-9.5
3.4

.1
.1
-.4
.4

9.6
3.4
6.3

2.5
5.9
-3.4
1.3
-.2
1.5

-.6
-.1

-4.2
1.3
-5.5
1.2
1.5
-.2

11.2
5.4
5.8
-1.6

.2
7.3
5.4
1.9
-7.1

12.9
11.1

3.9

9.3
9.1
3.9
5.2
.2

-5.9
-4.7
-1.1

-.2
-.5
.2

3.4
-1.4
4.8

-2.6
2.0
-4.5

6.1
5.0
1.8

-3.0
-4.2
1.2

4.1
1.1
3.1

-2.1
.5

-5.0
-5.6
.6
2.0
1.4
.6

5.2
2.4
2.8
-1.1
-1.3
.2

11.0
7.7
1.8
5.9
3.3

13.3
10.2
2.4
7.8
3.0

28.5
22.0
19.2
2.7
6.5

-2.5
-7.2
-8.1
.9
4.7

-1.7

-.1
-.5
.4

7.1
2.4
4.7

6.4
2.3
4.0

-1.9
.2

Change in business inventories

-9.3
.3

Farm

5.0 -12.6

7.8

15.0

9.8

33.5

8.2

-1.9

1.8

5.3

4.2

3.0

-.8

9.6

2.4

2.6 -10.7

6.0

5.6

30.5

9.0

-6.5 -8.7
-10.3 -10.9 -13.5
3.4
4.5
4.8

-6.5
-8.0
1.5

3.9 -14.5
-4.4 -17.7
8.3
3.2

1.8
-1.1

1.0
-1.1
2.2

.8
.4
.4

-5.6
-9.0
3.4

3.2
5.0
-1.8

-2.3
2.8
-5.1

8.0
2.8
5.2

-2.1
-3.4
1.3

1.5
-1.2
2.7
-.6
-.1
-.5

.8
.1
0
-.4
.4

-4.9
-8.4
3.5
-.7
-.5
-.1

2.1
5.1
-3.1
1.1
-.2
1.3

-3.5
1.5
-5.0
1.2
1.3
-.2

9.6
4.8
-1.6
-2.0
.4

Retail trade
Durable goods
Automotive
Other
Nondurable goods

1.7
-1.6
-1.3
-.3
3.3

8.5
8.0
3.5
4.5
.5

.5
6.5
4.8
1.7
-6.0

11.8
9.9
5.5
4.4
1.9

9.7
6.7
1.6
5.1
3.0

12.0
9.1
2.1
7.0
3.0

24.7
18.9
16.8
2.2
5.8

-1.8
-5.9
-6.9
1.0

Other
Durable goods
Nondurable goods

-5.3
-4.3
-1.0

-.2
-.4
.2

3.2
-1.3
4.4

-2.5
1.7
-4.2

-1.6
-1.7

.2
-.4
.6

6.1
2.0
4.1

5.7
2.0
3.7

Nonfarm
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods

-9.6
-6.9

-1.3
2.2

4.8

2.9

-4.8
.7
2.0

1.4
.6

Table 5.12.—Inventories and Final Sales of Domestic Business
by Industry

3.1
5.1
2.2

2.9
-1.1
-1.3
.2

4.1

Table 5.13.—Inventories and Final Sales of Domestic Business
by Industry in Constant Dollars

[Billions of dollars]

4.0
.9

[Billions of 1987 dollars]

Seasonally adjusted quarterly totals

Inventories1

1992

Inventories1

1,085.1 1,090.9 1,098.5 1,097.0 1,118.0 1,123.7

93.0

Farm

Seasonally adjusted quarterly totals

1993

1992

91.4

92.4

93.3

96.8

98.7

1993

975.2

977.1

980.9

983.3

991.7

83.8

84.3

85.6

86.7

87.4

87.2

Nonfarm
Durable goods
Nondurable goods

891.4
514.2
377.1

892.9
516.4
376.5

895.3
517.2
378.0

896.7
515.7
381.0

904.3
519.8
384.5

906.5
518.8
387.8

Farm

993.7

Nonfarm
Durable goods
Nondurable goods

992.1
568.3
423.8

999.4 1,006.1 1,003.7 1,021.2 1,025.0
572.0 573.7 572.6 583.8 583.9
427.5 432.4 431.1 437.4 441.1

Manufacturing
Durable goods
Nondurable goods

404.0
256.4
147.6

403.1
253.9
14&1

405.2
252.7
152.5

397.3
245.9
151.4

399.6
246.8
152.8

400.1
246.7
153.4

Manufacturing
Durable goods
Nondurable goods

368.5
235.6
132.9

366.9
233.6
133.3

367.9
232.5
135.4

364.2
228.1
136.2

364.7
227.8
136.9

365.0
227.5
137.4

Wholesale trade
Durable goods
Nondurable goods

236.0
148.7
87.3

238.3
150.7
87.6

238.7
152.0
86.7

240.4
153.2
87.2

242.0
153.7
88.2

243.1
154.7
88.5

Wholesale trade
Durable goods
Nondurable goods

206.5
130.9
75.7

207.3
132.1
75.2

206.8
132.8
73.9

208.7
133.5
75.2

208.2
132.7
75.6

209.2
132.9
76.3

209.8
132.4
77.4
26.2

211.6
135.3
76.3
27.1
16.7
10.4

214.5
137.1
77.4

216.1
138.2
77.9
27.0
16.5
10.5

183.3

184.8
118.8
66.0
23.9
14.7

183.8

9.2

117.6
66.2
24.4
15.0
9.4

185.1
118.2

9.8

214.7
136.9
77.8
27.3
16.8
10.4

182.8
116.0
66.8
23.7

9.8

211.7
134.4
77.3
26.6
16.3
10.3

257.4
124.9
65.0
59.8
132.5

263.3
128.6
67.4
61.1
134.7

267.0
130.7
67.6
63.0
136.3

271.2
134.8
69.3
65.5
136.3

281.7
142.5
75.3
67.2
139.2

281.7
141.6
74.4
67.2
140.1

Retail trade
Durable goods
Automotive
Other
Nondurable goods

237.5
119.8
62.7
57.1
117.7

243.7
124.6
66.9
57.6
119.2

Other

Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers .
Durable goods
Nondurable goods
Retail trade
Durable goods
Automotive
Other
Nondurable goods
Other
Final sales of domestic business2
Final sales of goods and structures of
domestic business2

16.4

25.9
16.1

94.7

94.8

95.3

94.8

98.0

100.1

412.8

415.0

420.2

428.3

430.3

437.0

226.1

226.7

228.8

234.7

234.3

238.1

Ratio of inventories to final sales of domestic
business
Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods and
structures

Final sales of domestic business2
Final sales of goods and structures of
domestic business2

14.9
8.8

66.1
24.0
14.8
9.2

182.4
117.6
64.8
24.3
15.2
9.1

229.2
113.4
60.4
53.0
115.8

232.1
115.9
61.8
54.1
116.2

234.5
117.6
62.2
55.3
117.0

117.3

66.9
24.1
14.7
9.4
243.3
123.1
65.2
57.9
120.2

87.1

86.5

86.1

86.1

87.7

89.1

347.4

347.2

349.8

354.8

353.5

357.0

197.2

196.9

198.4

203.1

201.1

203.7

2.81
2.57

2.81
2.57

2.80
2.56

2.77
2.53

2.81
2.56

2.78
2.54

4.52

4.54

4.51

4.42

4.50

4.45

Ratio of inventories to final sales of domestic
business
2.63
2.40

2.63
2.41

2.61
2.39

2.56
2.34

2.60
2.37

2.57
2.35

4.39

4.41

4.40

4.28

4.36

4.31

1. Inventories are as of the end of the quarter.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product
less gross product of households and institutions and general government and includes a small amount of final
sales by farm.




Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers .
Durable goods
Nondurable goods

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 tabie are at
quarterly rates, whereas the constant-dollar change in business inventories component of GDP is stated at annual
rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product
less gross product of households and institutions and general government and includes a small amount of final
sales by farm.

July 1993

SURVEY OF CURRENT BUSINESS
Table 6.1 C—National Income Without Capital Consumption Adjustment
by Industry
[Billions of dollars]

•

iy

Table 6.16C—Corporate Profits by Industry
[Billions of dollars]
Seasonally adjusted at annual rates

Seasonally adjusted at annual rates
1991

1992

1992

I
National income
without capital
consumption
adjustment

II

III

IV

I

4,587.5 4,769.0 4,704.5 4,737.4 4,765.9 4,868.2 4,926.7

Private industries

3,870.6 4,029.3 3,967.0 4,004.1 4,021.7 4,124.5 4,166.8

Agriculture, forestry, and
fisheries
Mining
Construction

90.9
36.7
210.1

95.6
36.1
219.6

95.4
36.0
214.4

94.8
34.9
218.9

88.3
35.5
220.1

104.1
38.2
225.1

109.6
37.3
227.1

Manufacturing
Durable goods
Nondurable goods

841.0
464.2
376.7

873.8
480.5
393.4

850.7
467.5
383.3

8746
477.3
397.3

877 0
481.6
395.4

892 9
495.4
397.5

884.2
488.2
396.0

335.2
140.8
95.3

337.2
144.8
98.6

339.2
145.4
97.9

333.3
140.6
97.3

334.6
143.7
97.9

341.9
149.4
101.1

347.1
150.9
100.4

Government
Rest of the world




II

1993

III

IV

I

II
346.3 393.8 384.0 388.4 374.1 428.5 424.2

Domestic industries
4,570.1 4,757.7 4,684.9 4,730.4 4,752.4 4,863.2 4,917.4

Wholesale trade
Retail trade
Finance, insurance, and
real estate
Services

1992

1992

I
Corporate profits with inventory
valuation and capital
consumption adjustments

Domestic industries

Transportation and public
utilities
Transportation
Communications
Electric, gas, and
sanitary services ....

1991

1993

99.0

93.9

95.9

95.4

93.0

91.3

95.8

266.0
403.3

272.9
418.3

264.9
413.6

270.2
416.1

273.1
413.3

283.4
430.0

279.9
432.8

685.0 703.2 704.0 698.5 702.5 707.8 730.5
1,002.4 1,072.5 1,048.8 1,062.8 1,077.3 1,101.2 1,118.3
699.4
17.4

728.4
11.3

717.8
19.6

726.2
7.0

730.7
13.5

738.7

750.5

5.0

9.4

279.8 329.8 315.3 327.4 309.0 367.4 357.0

Financial
.. .
Nonfinancial

49.9 46.8 59.6 51.2 30.6 45.9 54.5
229.9 283.0 255.7 276.2 278.5 321.5 302.6

Rest of the world
Receipts from the rest of the world ...
Less: Payments to the rest of the
world
. . .
Corporate profits with inventory
valuation adjustment
Domestic industries
Financial
Federal Reserve banks
Other
Nonfinancial
Manufacturing
Durable goods
Primary metal industries
Fabricated metal products
Industrial machinery and
equipment
Electronic and other electric
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

66.5
62.5

64.0
66.4

68.7
67.1

61.0
67.1

65.1
68.4

61.1
63.1

67.2
73.4

-4.0

2.5

-1.6

6.1

3.3

2.0

6.2

337.8 364.2 360.7 361.4 344.4 390.4 383.6
271.3 300.2 292.0 300.4 279.3 329.3 316.4
60.9 56.8 70.1 61.3 40.3 55.3 64.1
20.2 17.8 18.8 18.5 17.2 16.8 16.6
40.7 38.9 51.3 42.8 23.1 38.5 47.5
210.4 243.5 221.9 239.0 239.0 274.0 252.3
89.3 113.8 97.5 115.2 118.0 124.5 110.7
25.8 41.0 31.8 38.3 43.8 49.9 40.7
-.8
-.6
.8
1.1
.4
.3
1.1
47
67
61
54
71
78
78
8.9

9.4

8.6

9.5

9.3

10.0

7.3

6.6

9.3

7.2

6.4

10.4

13.3

10.6

-6.9
108
63.5
16.6

3.1
11 7
72.9
16.6

1.8
74
65.7
15.2

4.5
90
76.9
19.5

1.9
140
74.2
17.1

4.4
161
74.7
14.4

4.7
143
70.0
15.7

16.1
7.7
231
46.1
440
31.1
66.5

18.1
9.4
28 7
44.4
47 7
37.5
64.0

17.8
8.2
24 5
49.4
39.9
35.1
68.7

17.1
11.1
29 2
42.2
46.7
35.0
61.0

17.5
10.1
29 4
40.6
43.7
36.7
65.1

20.1
8.3
31 8
45.4
60.7
43.3
61.1

19.6
8.9
25 8
47.0
51.9
42.7
67.2

II

SURVEY OF CURRENT BUSINESS

18 • July 1993

Table 7.1 .—Fixed-Weighted and Alternative Quantity and Price Indexes for Gross Domestic Product
[Index numbers, 1987=100]
Seasonally adjusted

Seasonally adjusted
1991

Gross domestic product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ..
Benchmark-years weights ....
Price indexes:
Fixed 1987 weights
Chain-type annual weights ..
Benchmark-years weights ....
Implicit price deflator
Personal consumption expenditures:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Durable goods:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Nondurable goods:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Services:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Gross private domestic investment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Fixed investment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator




1992

1992

125.1 131.1 128.6 130.0

131.7 134.0 135.4 136.7

106.2 108.4 107.4 107.8 108.7 109.9 110.1 110.6
106.2 108.2 107.2 107.6 108.5 109.6 109.7
106.0 108.2 107.1 107.5 108.4 109.6 109.7
118.1
117.8
117.9
117.8

121.6
121.1
121.3
120.9

120.3
120.0
120.2
119.8

127.4 134.2 131.8

121.2
120.8
121.0
120.6

121.9
121.4
121.6
121.2

122.9
122.3
122.6
121.9

124.2 125.0
123.6
123.9
122.9 123.7

132.9 134.6 137.4

138.7 140.9

106.2 108.6 107.8 107.7 108.7 110.1 110.3 111.3
106.1 108.4 107.6 107.6 108.5 109.8 110.0
106.0 108.3 107.5 107.5 108.5 109.8 110.0
120.4
120.1
120.2
120.0

124.3
123.9
124.1
123.6

110.5 119.0

122.9
122.5
122.6
122.3

123.9
123.6
123.7
123.4

124.7
124.3
124.5
123.8

125.7
125.3
125.4
124.8

126.7 127.6
126.3
126.5
125.8 126.6

116.3 116.6 119.5 123.6 123.6

128.6

102.7 108.8 107.1 106.5 108.9 112.5 112.3 116.1
102.1 107.8 106.2 105.6 108.0 111.4 111.0
102.1 108.0 106.3 105.8 108.1 111.6 111.3
112.7 113.7
111.6
111.8
110.0 110.8

111.4
110.5
110.6
109.4

110.3
109.5
109.6
108.6

111.3
110.4
110.5
109.4

123.8 127.7

126.0

126.4 127.9 130.4 130.6 131.5

108.9
108.3
108.2
107.6

111.8
110.8
111.0
109.7

112.2
111.2
111.3
109.8

103.1 104.3 103.8 103.4 104.0 105.8 105.1 105.7
103.0 104.1 103.7 103.3 103.9 105.5 104.8
102.9 104.1 103.6 103.2 103.8 105.5 104.8
121.8
121.6
121.6
121.4

122.7
122.4
122.5
122.2

123.5
123.2
123.2
122.9

124.0
123.7
123.8
123.3

125.1 125.3
124.7
124.9
124.3 124.4

133.8 142.0 139.2 141.0 142.5 145.2

147.5 149.7

120.5
120.2
120.3
120.1

123.0
122.7
122.8
122.4

108.9 111.2 •110.4 4-10.7 111.6. 112.1 113.0 113.6
108.8 111.1 110.2 110.6 111.4 112.0 112.8
108.8 111.0 110.2 110.6 111.4 112.0 112.8
123.1
122.9
123.0
122.8

128.2
127.9
128.0
127.7

126.6
126.3
126.4
126.1

127.7
127.5
127.5
127.4

128.7
128.4
128.5
127.7

130.0
129.6
129.7
129.5

131.2 132.5
130.9
131.0
130.5 131.8

96.2 102.8

96.4 103.2 104.3 107.3 112.6 110.9

88.2
87.5
87.6

89.3
87.7
88.2

95.1
93.2
93.9

95.2
93.6
94.1

96.8
94.6
95.4

99.2 104.6 102.9
97.0 101.6
97.8 102.8

101.2 105.9 102.1 105.8 106.0 109.8 111.9 114.1
92.7
91
92.0

97.9
95.7
96.5

94.2
92.6
93.2

97.6
95.7
96.4

110.8
110.2
110.0
109.1

111.8
110.9
110.8
108.2

111.1
110.4
110.2
108.3

111.5
110.7
110.5
108.4

1991

1993

98.2 101.4 103.8 105.5
95.8 98.9 100.5
96.7 99.9 101.9
112.1
111.1
111.0
108.0

112.6
111.4
111.4
108.3

113.3 114.2
112.0
112.1
107.8 108.1

Nonresidential:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ...
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights ...
Benchmark-years weights
Implicit price deflator
Structures:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Producers' durable
equipment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Residential:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ...
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights ...
Benchmark-years weights
Implicit price deflator
Exports of goods and services:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Imports of goods and services:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator

1992

1992

1993

108.7 110.1 106.7 110.6 110.4 112.9 115.3 119.2
100.5 103.5
99.2 100.5
99.5 101.6

99.6 103.4 104.2 106.7 110.0 113.5
97.3 100.8 100.8 103.1 105.3
98.1 101.7 102.1 104.4 107.2

110.3
109.5
109.3
108.2

111.3
110.0
109.9
106.5

110.8
109.7
109.6
107.1

111.1
109.9
109.8
106.9

111.5
110.1
110.1
106.0

111.7
110.2
110.2
105.9

112.2 112.8
110.5
110.6
104.8 105.0

105.1

98.3

99.3

99.4

97.0

97.5

98.1 100.3

92.0
92.0
92.0

85.7
85.7
85.7

87.2
87.2
87.2

87.0
86.9
87.0

84.4
84.4
84.4

84.1
84.1
84.1

84.0
84.0
84.0

114.4
114.3
114.3
114.3

114.9
114.8
114.8
114.7

114.0
113.9
114.0
113.9

114.4
114.3
114.4
114.2

115.0
114.9
115.0
114.9

116.0
115.9
115.9
116.0

85.1

116.8 118.1
116.7
116.8
116.7 118.0

110.6 116.4 110.5 116.4 117.5 121.0 124.3 129.0
104.9 112.8 106.1 112.0 114.6 118.5 123.6
103.2 108.7 102.9 108.4 109.8 113.6 117.2
103.5 110.1 103.9 109.6 111.6 115.4 119.7
109.7
107.7
107.8
102.5

109.4
107.3
107.4
102.1

128.4

109.7 110.1
107.4
107.6
100.6 100.5

108.2
107.1
106.8
105.4

109.4
107.6
107.6
103.2

109.1
107.6
107.4
104.2

109.4
107.7
107.6
103.9

84.5

96.7

92.0

95.4

96.3 103.0 104.4 102.9

75.6
75.5
75.6

85.5
85.4
85.5

82.4
82.3
82.4

84.9
84.8
84.9

84.9
84.9
84.9

89.8
89.8
89.8

111.8
111.9
111.8
111.8

113.1
113.1
113.1
113.0

111.7
111.8
111.7
111.7

112.4
112.5
112.4
112.3

113.5
113.5
113.5
113.4

114.7
114.7
114.7
114.6

164.4 174.8

90.1
90.1
90.1

87.9

116.0 117.2
116.0
115.9
115.9 117.1

172.6 171.8 175.6 179.3 178.4 181.9

148.2 157.5 155.3 154.8 158.2 161.6 160.5 163.1
146.6 154.9 153.4 152.4 155.3 158.4 157.2
147.2 156.0 154.2 153.4 156.6 159.8 158.6
112.4
112.1
111.7
110.9

113.7
113.1
112.8
111.0

112.9
112.5
112.1
111.1

113.5
113.0
112.6
111.0

114.0
113.4
113.1
111.0

114.3
113.6
113.3
111.0

114.8 115.4
114.0
113.8
111.2 111.5

122.3 131.5 125.5 130.7 133.1 136.7 137.8 140.4
110.7 121.3 115.7 119.8 124.0 125.7 129.1 130.9
108.6 117.6 112.9 116.4 119.8 121.4 124.3
109.1 118.8 113.7 117.5 121.2 122.9 126.0
113.7
112.6
112.1
110.5

114.6
113.0
112.8
108.4

113.0
111.6
111.2
108.4

114.4
112.8
112.5
109.1

115.9
114.2
114.0
107.4

115.2
113.5
113.3
108.8

113.8 115.0
112.0
111.9
106.8 107.3

July 1993 •

SURVEY OF CURRENT BUSINESS

19

Table 7.1 .—Fixed-Weighted and Alternative Quantity and Price Indexes
for Gross Domestic Product—Continued

Table 7.2.—Fixed-Weighted and Alternative Quantity and Price Indexes
for Gross Domestic Product, Final Sales, and Purchases

[Index numbers, 1987=100]

[Index numbers, 1987=100]
Seasonally adjusted

1991

t pun
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Federal:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
Implicit price deflator
National defense:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights .
Benchmark-years weights ..
Price indexes:
Fixed 1987 weights
Chain-type annual weights .
Benchmark-years weights ...
Implicit price deflator
Nondefense:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights .
Benchmark-years weights ..
Price indexes:
Fixed 1987 weights
Chain-type annual weights .
Benchmark-years weights ..
Implicit price deflator
State and local:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator

1992

1992

Seasonally adjusted
1993

1991

123.7 126.! 125.1 125.8 127.5 127.4 126.7 127.6
106.7 106.4 106.3 106.0 107.0 106.3 104.3 104.4
106.6 106.1 106.1 105.8 106.7 105.9 104.2
106.5 106.1 106.0 105.7 106.7 105.9 104.1
118.5
118.0
118.1
117.7

119.5
118.9
119.1
118.7

120.;

121. 122.5 123.2
119.5 120.4 121.7
119.7 120.6 122.0
119.2 119.9 121.4 122.2

116.5
116.1
116.2
115.9

119.8
119.2
119.4
118.9

116.;

116.7 115.6 115.5 118.3 117.3 114.6 114.5

100.9
100.5
100.3

97.6
97.2
97.0

97.5
97.2
97.0

96.8
96.5
96.3

98.6
98.2
98.0

97.4
96.8
96.7

116.5
115.7
115.8
115.2

121.3
120.0
120.4
119.6

119.8
118.9
119.1
118.6

120.6
119.6
119.8
119.3

121.7
120.4
120.8
120.0

123.0
121.3
121.8
120.4

92.8
92.5
92.3

92.0

125.3 125.8
123.7
124.2
123.6 124.4

110.9 108.1 107.4 106.7 109.4 108.9 104.2 104.4

96.8
95.8
96.0

90.7
89.8
90.0

90.9
90.3
90.3

89.8
89.0
89.1

91.5
90.6
90.7

90.8
89.5
89.8

116.5
115.7
115.5
114.5

121.7
120.4
120.4
119.1

120.0
119.0
118.8
118.1

120.9
119.8
119.7
118.9

122.1
120.9
120.8
119.5

123.6
121.8
122.0
120.0

84.2
83.6
83.6

83.9

125.9 126.5
124.3
124.4
123.7 124.5

133.0 143.6 141.5 143.3 146.1 143.6 147.4 146.0
113.6 119.1 118.1 119.1 120.7 118.3 119.7 117.7
115.2 120.4 119.1 120.4 122.2 119.8 120.7
113.9 119.2 118.1 119.2 121.0 118.6 119.7
116.6
115.5
116.8
117.1

120.2 119.4 119.8 120.4
119.0 118.5 118.8 119.1
120.3 119.6 120.0 120.5
120.6 119.8 120.3 121.0

121.1
119.7
121.1
121.4

123.4 123.7
122.1
123.5
123.2 124.1

129.5 134.1 132.5 133.8 134.7 135.3 136.0

137.7

111.3 113.2 113.1 113.1 113.5 113.1 113.3
111.2 113.0 112.9 112.9 113.3 113.0 113.1
111.3 113.1 113.0 113.0 113.4 113.1 113.2

113.9

116.4
116.4
116.4
116.4

118.7
118.7
118.6
118.4

117.4
117.4.
117.4
117.1

118.5
118.6
118.5
118.3

119.0
119.0
118.9
118.7

119.8
119.8
119.7
119.5

120.3
120.3
120.3
120.1

121.1

120.9

NOTE.—The quantity and price indexes in this table are calculated from weighted averages of the detailed
output and prices used to prepare each aggregate and component. The fixed-weighted measures use as weights
the composition of output in 1987. For the alternative indexes, the chain-type indexes with annual weights use
weights for the preceding and current years, and the indexes with benchmark-years weights use weights of 1959,
1963. 1967, 1972, 1977, 1982, and 1987 and the most recent year. Percent changes from preceding period for
selected items in this table are shown in table 8.1.




Gross domestic product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Final sales of domestic product1:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Gross domestic purchases2:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator
Final sales to domestic purchasers3:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator

1992

1992

1993

125.1 131.1 128.6 130.0 131.7 134.0 135.4 136.7
106.2 108.4 107.4 107.8 108.7 109.9 110.1 110.6
106.2 108.2 107.2 107.6 108.5 109.6 109.7
106.0 108.2 107.1 107.5 108.4 109.6 109.7
118.1
117.8
117.9
117.8

121.6
121.1
121.3
120.9

120.3
120.0
120.2
119.8

121.2 121.9 122.9 124.2 125.0
120.8 121.4 122.3 123.6
121.0 121.6 122.6 123.9
120.6 121.2 121.9 122.9 123.7

126.0 131.7 129.7 130.6 132.1 134.5 135.4 137.4
107.0 109.0 108.3 108.2 109.0 110.4 110.0 111.0
106.9 108.7 108.1 108.0 108.7 110.0 109.6
106.8 108.7 108.0 108.0 108.7 110.0 109.6
118.2
117.8
118.0
117.8

121.6
121.2
121.4
120.9

120.4
120.0
120.2
119.8

121.3
120.9
121.0
120.7

121.9
121.5
121.6
121.2

123.0
122.4
122.6
121.9

124.3 125.0
123.7
123.9
123.0 123.7

121.7 127.7 124.9 126.8 128.4 130.7 132.3 133.6
103.4 106.0 104.5 105.4 106.5 107.6 108.3 108.7
103.3 105.6 104.3 105.1 106.1 107.1 107.6
103.2 105.7 104.3 105.1 106.1 107.2 107.8
118.1
117.8
117.9
117.7

121.4
121.1
121.2
120.5

120.1
119.8
119.9
119.5

121.1
120.7
120.8
120.3

121.8
121.4
121.6
120.6

122.7 123.8 124.6
122.2 123.3
122.4 123.5
121.5 122.2 122.9

122.6 128.3 125.9 127.4 128.8 131.3 132.3 134.2
104.2 106.5 105.4 105.8 106.8 108.0 108.2 109.1
104.0 106.1 105.1 105.5 106.3 107.4 107.5
104.0 106.1 105.1 105.5 106.4 107.6 107.7
118.1
117.8
117.9
117.7

121.5
121.1
121.2
120.5

120.2
119.9
119.9
119.5

121.1
120.8
120.9
120.3

121.9
121.5
121.6
120.7

122.8
122.3
122.5
121.5

123.9 124.7
123.4
123.5
122.3 123.0

1. Equals GDP less change in business inventories.
2. Equals GDP less net exports of goods and services or equals the sum of personal consumption
expenditures, gross private domestic investment, and government purchases.
3. Equals gross domestic purchases less change in business inventories or equals the sum of personal
consumption expenditures, gross private domestic fixed investment, and government purchases.
NOTE—Percent changes from preceding period for selected items in this table are shown in table 8.1.

20 • July 1993

SURVEY OF CURRENT BUSINESS

Table 7.3.—Fixed-Weighted and Alternative Quantity and Price Indexes
for Gross National Product and Command-Basis Gross National
Product

Table 7.6.—Price Indexes for Fixed Investment by Type, Fixed
1987 Weights
[Index numbers, 1987=100]

[Index numbers, 1987=100]
Seasonally adjusted
Seasonally adjusted
1991

1992

1991

1992

I

II

1993

III

IV

125 3 131 2 128 9 130.0 131 9 133 9 135 4

110.8 111.8 111.1 111.5 112.1 112.6 113.3 114.2
110.3 111.3 110.8 111.1 111.5 111.7 112.2 112.8

Structures
Nonresidential buildings, including
farm
Utilities
Mining exploration, shafts, and
wells
Other structures

120.3
120.0
120.1
119.8

121.2
120.8
121.0
120.6

121.8
121.4
121.6
121.2

122.8
122.3
122.6
121.8

124.1
123.6
123.8
122.9

Less: Exports of goods and services
and receipts of factor income:
Current dollars
Quantity index fixed 1987 weights

158.1 163.1 162.3 161.3 163.7 165.2 165.4
140 8 1447 143 9 1431 145 2 146 6 146 2

Plus: Command-basis exports of
goods and services and receipts
of factor income:
Current dollars
Quantity index, fixed 1987 weights ...

164.4 174.8 172.6 171.8 175.6 179.3 178.4
141.3 147.8 147.1 145.3 149.5 149.2 151.6

Equals: Command-basis gross
national product:
Current dollars
Quantity index, fixed 1987 weights ..

114.4 114.9 114.0 114.4 115.0 116.0 116.8 118.1

Producers' durable equipment
Information processing and related
equipment
Computers and peripheral
equipment1
Other
Industrial equipment
Transportation and related
equipment
Other

106.4 108.5 107.6 107.8 108.8 109.9 110.2
106.4 108.3 107.5 107.7 108.6 109.6 109.8
106.3 108.3 107.4 107.6 108.6 109.6 109.8
121.5
121.1
121.3
120.9

I

I

Nonresideniial ....

118.1
117.8
117.9
117.8

1993

II

I

Fixed investment ....
Gross national product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Implicit price deflator

1992

1992

108.2 109.4 109.1 109.4 109.7 109.4 109.7 110.1

112.8 113.3 112.4 112.8 113.6 114.6 115.6 116.6
114.4 116.0 115.1 115.8 116.2 116.8 117.7 119.9
130.5 129.1 129.7 128.9 128.0 129.7 129.5 131.8
112.0 110.8 109.2 110.5 111.0 112.7 112.2 114.0

94.7

92.9

93.9

93.5

92.7

92.4

92.4

92.1

70.0 61.3 64.9 62.9 59.4 57.9 56.5 54.7
105.8 107.6 107.0 107.4 107.7 108.2 108.7 109.1
117.9 120.2 119.1 119.8 121.4 120.4 120.5 121.2
112.9 116.1 115.4 116.1 116.4 116.3 117.4 118.1
114.2 116.3 115.5 116.0 116.8 117.1 117.3 118.0
111.8 113.1 111.7 112.4 113.5 114.7 116.0 117.2

Residential

113.3
112.7
112.4
114.4

111.9
111.0
110.7
113.5

112.6
111.9
111.6
113.9

113.7
113.3
112.9
114.6

115.0 116.3 117.5

Structures
Single family
Multifamily
Other structures
Producers' durable equipment

125.3 131.2 128.9 130.0 131.9 133.9 135.4
106.5 108.9 107.9 108.0 109 3 1102 1108

NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.

Table 7.4.—Price Indexes for Personal Consumption Expenditures
by Major Type of Product, Fixed 1987 Weights
[Index numbers, 1987=100]

112.0
111.7
111.4
112.8

104.2 104.9 104.4 105.0 105.2 104.9 104.5 105.5

Addenda:
Price indexes for fixed investment:
Chain-type annual weights
Benchmark-years weights

114.7 116.0 117.3
114.4 115.7 117.0
115.5 116.7 117.9

110.2 110.9 110.4 110.7 111.1 111.4 112.0
110.0 110.8 110.2 110.5 111.0 111.4 112.1

1. Includes new computers and peripheral equipment only.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.

Personal consumption
expenditures
Durable goods
Motor vehicles and parts
Furniture and household equipment .
Other
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services
Housing
Household operation
Electricity and gas
Other household operation
Transportation
Medical care
Other
Addenda:
Price indexes for personal
consumption expenditures:
Chain-type annual weights
Benchmark-years weights

120.4 124.3 122.9 123.9 124.7 125.7 126.7 127.6
108.9 111.4 110.3 111.3 111.8 112.2 112.7 113.7
108.8 112.0 110.0 111.6 112.8 113.6 114.2 115.7
103.0 103.9 103.8 104.1 103.8 104.1 103.8 104.1
120.5 124.2 123.5 124.5 124.7 124.3 126.1 127.1
120.5 123.0 121.6 122.7 123.5 124.0 125.1 125.3
120.1
115.3
123.8
121.2
123.8

122.1
117.9
123.3
117.2
128.8

121.3
117.6
120.0
114.2
127.0

121.7
118.0
122.8
115.8
128.5

122.3
117.7
125.3
120.1
129.5

123.0
118.4
125.1
118.7
130.2

123.9
120.0
126.7
117.7
131.3

123.1 128.2 126.6 127.7 128.7 130.0 131.2 132.5
120.2
109.8
108.8
110.6
121.9
132.8
123.7

124.1
112.7
111.1
114.1
128.1
140.4
128.5

123.0
111.4
109.6
113.0
127.3
137.6
126.9

123.7
112.2
110.4
113.7
126.4
139.6
128.4

124.3
113.1
111.5
114.5
127.2
141.2
129.1

125.4
114.1
112.9
115.2
131.5
143.0
129.6

126.6
114.3
112.4
115.9
135.1
144.8
130.4

120.1 123.9 122.5 123.6 124.3 125.3 126.3
120.2 124.1 122.6 123.7 124.5 125.4 126.5

NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.




124.6
119.2
123.5
118.9
132.1

127.6
116.1
114.5
117.5
135.0
146.9
131.4

Table 7.9.—Price Indexes for Exports and Imports of Goods
and Services and for Receipts and Payments of Factor Income,
Fixed 1987 Weights
[Index numbers, 1987=100]
Exports of goods and services
Merchandise1 .
Durable
Nondurable
Services1

112.4 113.7 112.9 113.5 114.0 114.3 114.8 115.4
109.8
108.4
112.1
118.9

109.9
109.6
110.0
123.0

109.5
109.3
109.7
121.2

109.9
109.5
110.4
122.3

110.0
109.8
110.4
123.7

110.0
110.0
109.7
124.8

110.2
110.8
109.9
125.9

110.7
111.4
110.0
127.0

Receipts of factor income2

118.7 122.4 121.2 122.4 122.7 123.3 124.5

Imports of goods and services

113.7 114.6 113.0 114.4 115.9 115.2 113.8 115.0

Merchandise1
Durable
Nondurable
Services'
Payments of factor income3
Addenda:
Price indexes for exports of goods
and services:
Chain-type annual weights
Benchmark-years weights
Price indexes for imports of goods
and services:
Chain-type annual weights
Benchmark-years weights

111.2
111.4
110.8
125.0

111.9
112.7
110.3
126.9

110.1
111.7
106.6
126.1

111.4
112.2
110.0
127.6

113.1
113.5
112.5
128.7

113.0
113.5
112.1
125.0

111.5
113.8
108.2
124.4

112.5
114.6
109.6
126.1

119.6 123.5 122.2 123.4 123.8 124.5 125.7

112.1 113.1 112.5 113.0 113.4 113.6 114.0
111.7 112.8 112.1 112.6 113.1 113.3 113.8

112.6 113.0 111.6 112.8 114.2 113.5 112.0
112.1 112.8 111.2 112.5 114.0 113.3 111.9

1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services.
2. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
3. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.
NOTE.— Percent changes from preceding period for selected items in this table are shown in table 8.1.

SURVEY OF CURRENT BUSINESS

21

July 1993

Table 7.10.—Price Indexes for Exports and Imports of Merchandise
by End-Use Category, Fixed 1987 Weights

Table 7.11.—Price Indexes for Government Purchases by Type,
Fixed 1987 Weights

[Index numbers, 1987=100]

[Index numbers, 1987=100]
Seasonally adjusted

1991

1992

1992

III
Exports of merchandise
Foods, feeds, and beverages
Industrial supplies and materials
Durable goods
Nondurable goods
Capital goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Imports of merchandise

Seasonally adjusted

114.4
108.9
117.9
104.9
105.8
120.9
60.4
116.3
112.6
118.1
116.8
119.3
113.1
113.2
113.2

116.9
107.1
114.7
103.6
106.0
120.2
64.4
115.6
111.9
117.7
117.4
117.9
112.6
112.6
112.6

116.5
108.5
116.9
104.7
105.8
120.4
62.1
115.9
112.4
117.9
116.3
119.3
113.0
113.0
113.0

112.5
110.3
119.7
106.1
105.7
121.4
58.2
116.8
112.7
118.0
116.1
119.6
113.4
113.4
113.4

111.6
109.8
120.:
105.1
105.7
121.9
56.8
117.0
113.4
118.8
117.4
120.1
113.7
113.7
113.7

113.1
110.0
124.0
103.6
105.7
122.3
55.4
117.3
113.7
119.6
117.9
121.2
113.7
113.8
113.8

113.4
110.7
127.1
103.3
106.0
123.4
53.2
118.3
113.8
119.7
117.5
121.6
114.4
114.5
114.5

111.2 111.9 110.1 111.4 113.1 113.0 111.5 112.5
108.4 108.0 111.6 107.0 106.6 106.8 105.4 106.9

Foods, feeds, and beverages
Industrial supplies and materials, except
petroleum and products
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except automotive
Civilian aircraft, engines, and parts ...
Computers, peripherals, and parts ....
Other
Automotive vehicles, engines, and parts
Consumer goods, except automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods

115.3
115.4
115.3
105.2
107.1
117.7
71.7
114.2
112.5
114.0
114.0
114.1
112.8
112.8
112.8

Addenda:
Exports of agricultural products1
Exports of nonagricultural products ...
Imports of nonpetroleum products

113.0 110.3 111.9 111.3 109.3 108.8 110.1 109.7
109.4 109.8 109.2 109.7 110.1 110.1 110.3 110.8
111.9 113.0 112.4 112.4 113.5 113.8 113.1 113.9

1. Includes parts of line 2, 5, and line 13.




114.7
116.5
112.8
100.5
106.2
121.0
64.0
114.6
115.6
117.0
116.3
117.9
113.8
113.9
113.9

114.0
115.1
112.9
88.7
106.1
120.2
66.4
113.9
114.8
115.0
113.7
116.6
112.9
112.9
112.9

114.8
117.4
112.0
101.6
105.0
120.3
64.7
112.8
114.9
116.5
116.3
116.7
113.1
113.1
113.1

115.3
117.6
112.8
107.7
107.0
121.4
63.1
115.8
115.9
117.9
117.4
118.5
114.5
114.5
114.5

1993

1992

1992

IV

109.8 109.9 109.5 109.9 110.0 110.0 110.2 110.7
114.8
111.4
115.;
109.7
105.4
117.8
69.4
113.7
110.
113.8
111.7
115.7
112.5
112.5
112.5

1991

1993

114.8
115.9
113.7
104.2
106.8
121.8
61.7
115.8
116.8
118.7
117.7
119.9
115.0
115.0
115.0

114.9 114.6
118.2 118.0
111.5 111.0

95.4 98.8
105.8 106.7
122.3 123.4
60.3
114.7
116.4
117.7
117.8
117.5
114.1
114.1
114.1

58.8
116.2
117.8
118.1
118.1
118.2
114.9
1149
114.9

Government purchases ....
Federal.

116.5 119.8 118.5 119.5 120.2 121.

122.5 123.2

116.5 121.3 119.8 120.6 121.7 123.0 125.3 125.8

National defense
Durable goods
Nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Structures

116.5 121.7 120.0 120.9 122.1 123.6 125.9 126.5

Nondefense
Durable goods
Nondurable goods
Commodity Credit Corporation
inventory change
Other nondurables
Services
Compensation of employees....
Other services
Structures

116.6 120.2 119.4 119.8 120.4 121.1 123.4 123.7
106.5 102.1 102.9 103.5 103.6 98.2 93.6 92.0

State and local
Durable goods
Nondurable goods
Services
Compensation of employees
Other services
Structures
Addenda:
Price indexes for government
purchases:
Chain-type annual weights
Benchmark-years weights
Price indexes for Federal national
defense purchases:
Chain-type annual weights
Benchmark-years weights
Price indexes for Federal nondefense
purchases:
Chain-type annual weights
Benchmark-years weights
Price indexes for State and local
purchases:
Chain-type annual weights
Benchmark-years weights

111.4
121.3
118.5
122.0
121.4
123.3
113.6
117.8

114.0
115.9
125.8
132.3
133.1
130.6
116.5
118.6

112.5
111.7
124.2
130.6
131.0
129.6
115.2
116.1

113.0
115.3
125.1
131.8
132.6
130.1
115.7
118.2

113.8
119.9
126.4
132.8
133.7
130.7
117.3
119.5

116.7
116.9
127.4
134.0
135.1
132.0
118.0
120.6

117.7
114.0
130.7
139.6
140.9
137.0
117.9
121.2

118.1
113.7
131.3
140.6
141.8
138.0
118.1
124.5

108.9
119.4
122.4
115.2
113.3

113.6
124.4
129.3
117.5
113.8

113.2
123.8
128.4
117.3
112.7

114.5
124.0
128.7
117.4
113.5

114.0
124.4
129.4
117.5
113.9

112.5
125.4
130.6
118.1
114.9

114.0
128.1
135.2
11-8.3
115.3

114.2
128.5
135.8
118.3
116.5

116.4
111.2
115.1
118.1
122.0
76.5
110.5

118.7
113.1
115.3
121.3
126.4
66.2
109.2

117.4
112.4
113.3
120.2
124.8
70.0
107.4

118.5 119.0
113.2 113.5
115.9 116.7
121.2 121.5
126.3 126.6
66.0 65.2
108.6 109.6

119.8
113.5
115.3
122.4
127.8
63.5
111.4

120.3
114.4
116.2
123.0
128.8
60.0
111.2

121.1
115.4
118.2
123.4
129.7
55.3
113.4

116.1 119.2 118.0 118.9 119.5 120.4 121.7
116.2 119.4 118.1 119.1 119.7 120.6 122.0
115.7 120.4 119.0 119.8 120.9 121.8 124.3
115.5 120.4 118.8 119.7 120.8 122.0 124.4

115.5 119.0 118.5 118.8 119.1 119.7 122.1
116.8 120.3 119.6 120.0 120.5 121.1 123.5

116.4 118.7 117.4 118.6 119.0 119.8 120.3
116.4 118.6 117.4 118.5 118.9 119.7 120.3

22 • July 1993

SURVEY OF CURRENT BUSINESS

Table 7.12.—Price Indexes for National Defense Purchases, Fixed
1987 Weights

Table 7.14.—Implicit Price Deflators for Gross Domestic Product
by Sector

[Index numbers, 1987=100]

[Index numbers, 1987=100]

Seasonally adjusted

Seasonally adjusted
1991

1992

1993

1992
III

National defense purchases .

Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment..
Other
Other durable goods

116.5 121.7 120.0 120.9 122.1 123.6 125.9 126.5

111.9
113.8
101.4
117.2
115.0
107.2
115.5
107.1

114.8
119.2
98.5
119.0
121.0
109.1
117.0
105.6

113.1
116.3
99.1
118.3
119.3
108.0
115.1
106.1

113.7
117.0
98.5
118.6
119.5
109.6
117.3
105.8

114.6
118.5
98.8
119.3
121.1
109.4
117.3
105.4

117.8
125.2
97.7
119.8
124.0
109.5
118.3
105.2

118.9
126.1
100.1
120.5
125.8
109.6
118.6
105.4

119.4
126.0
99.1
121.1
130.8
110.0
119.8
105.4

121.3 115.9 111.7 115.3 119.9 116.9 114.0 113.7

Nondurable goods

132.7 119.5 107.5 117.0 129.7 123.7 110.7 111.6
109.6 109.1 108.3 109.6 110.7 108.0 113.7 112.8
120.1 118.8 119.7 119.2 118.2 118.1 118.2 117.3

Petroleum products
Ammunition
Other nondurable goods

118.5 125.8 124.2 125.1 126.4 127.4 130.7 131.3

Services
Compensation of employees ...
Military
Civilian
Other services
Contractual research and
development
Installation support1
Weapons support2
Personnel support3
Transportation of material ...
Travel of persons
Other

122.0
121.4
123.3
113.6

132.3
133.1
130.6
116.5

130.6
131.0
129.6
115.2

131.8
132.6
130.1
115.7

132.8
133.7
130.7
117.3

134.0
135.1
132.0
118.0

139.6
140.9
137.0
117.9

140.6
141.8
138.0
118.1

108.8
113.6
115.6
126.5
102.6
112.4

111.8
114.6
120.4
134.1
101.6
111.6

109.9
113.7
118.0
132.2
103.6
112.3

111.7
113.8
119.7
131.8
101.5
108.8

112.3
115.5
121.1
136.3
100.8
110.5

113.4
115.4
122.6
136.1
100.7
114.7

113.8
114.7
122.9
134.3
101.1
119.4

113.8
115.0
123.2
134.0
101.7
119.5

117.8 118.6 116.1 118.2 119.5 120.6 121.2 124.5

Structures

109.5 113.3 111.4 113.2 114.2 114.6 115.0 119.4
133.1 128.3 124.7 127.4 129.3 131.8 132.7 133.9

Military facilities
Other
Addenda:
Price indexes for national defense
purchases:
Chain-type annual weights
Benchmark-years weights

115.7 120.4 119.0 119.8 120.9 121.8 124.3
115.5 120.4 118.8 119.7 120.8 122.0 124.4

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 7.13.—Implicit Price Deflators for the Relation of Gross
Domestic Product, Gross National Product, Net National Product,
and National Income
[Index numbers, 1987=100]

Gross domestic product
Plus: Receipts of factor income from
the rest of the world1
Less: Payments of factor income to the
rest or the world2
Equals: Gross national product

117.8 120.9 119.8 120.6 121.2 121.9 122.9 123.7
118.7 122.3 121.2 122.0 122.7 123.3 124.5
119.5 123.5 122.3 123.1 124.0 124.7 125.9
117.8 120.9 119.8 120.6 121.2 121.8 122.9

Less: Consumption of fixed capital

110.0 110.5 109.5 110.4 111.0 111.0 111.5 112.0

Equals: Net national product

118.8 122.3 121.2 122.0 122.6 123.3 124.4

Less: Indirect business tax and nontax
liability plus business transfer
payments less subsidies plus current
surplus of government enterprises ....
Statistical discrepancy

128.4 132.4 131.2 131.1 134.1 133.3 131.5 135.4
117.1 119.8 118.8 119.5 120.1 120.7 121.6

Equals: National income

117.8 121.3 120.2 121.1 121.5 122.3 123.7

Addenda:
Net domestic product
Domestic income

118.8 122.3 121.2 122.0 122.7 123.3 124.5 125.2
117.8 121.3 120.2 121.1 121.5 122.3 123.7

1. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign
affiliates of U.S. corporations.
2. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.
affiliates of foreign corporations.




1992

1992

1993

IV

111.4 114.0 112.5 113.0 113.8 116.7 117.7 118.1

Durable goods

1991

Gross domestic product .
Business
Nonfarm
Nonfarm less housing
Housing
Farm
Statistical discrepancy
Households and institutions
Private households
Nonprofit institutions
General government
Federal
State and local
Addendum:
Gross domestic business product
less housing

117.8 120.9 119.8 120.6 121.2 121.9 122.9 123.7
117.1 119.8 118.8 119.5 120.1 120.7 121.6 122.3
117.1
116.8
119.8
114.0
117.1

119.9
119.3
125.4
111.8
119.8

118.9
118.6
122.2
110.8
118.8

119.7
119.3
123.0
110.5
119.5

120.2
119.0
131.7
111.4
120.1

120.8
120.3
124.8
114.5
120.7

121.7
121.1
127.0
116.3
121.6

122.3
121.8
126.9
123.0
122.3

121.6 126.6 125.0 126.5 126.8 128.1 129.5 129.5
111.4 115.7 113.9 114.9 116.4 117.4 117.9 118.5
122.0 127.1 125.4 127.0 127.2 128.6 130.0 130.0
121.9 127.8 126.3 127.6 128.1 129.3 131.5 132.3
122.2 131.4 129.9 130.8 131.7 133.0 138.2 139.0
121.8 126.3 124.7 126.2 126.6 127.7 128.7 129.6

116.8

Table 7.15.—Current-Dollar Cost and Profit Per Unit of ConstantDollar Gross Domestic Product of Nonfinancial Corporate Business
[Dollars]

Current-dollar cost and profit
per unit of constant-dollar
gross domestic product1 ...
Consumption of fixed capital
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

1.139 1.151 1.146 1.151 1.152 1.155 1.163
.126

.126

.125

.126

.130

.124

.126

1.013 1.025 1.021 1.026 1.022 1.032 1.038

.115
.898
.759

.118
.907
.757

.118
.903
.760

.117
.908
.759

.118
.903
.757

.119
.913
.753

.120
.918
.765

085
.030

.102
.036

.093
.033

.100
.037

100
.035

.113
.038

.107
.037

.055
.053

.066
.048

.060
.050

.064
.049

.065
.047

.075
.046

.070
.046

1. Equals the deflator for gross domestic product of nonfinancial corporate business with the decimal point
shifted two places to the left.

SURVEY OF CURRENT BUSINESS

July 1993 •

23

Table 8.1.—Percent Change From Preceding Period in Selected Series
[Percent]
Seasonally adjusted at annual rates

1991

Gross domestic product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Personal consumption expenditures:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Durable goods:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Nondurable goods:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Services:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Gross private domestic investment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Fixed investment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Nonresidential:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ...
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights ...
Benchmark-years weights




1992

1992

Seasonally adjusted at annual rates
1991

1993

2.8

4.8

6.2

4.3

-1.1
-1.2

2.1
1.9
2.0

2.9
2.6
2.8

1.5
1.5
1.5

3.4
3.2
3.3

4.7
4.3
4.5

4.0
4.0
4.0

2.9
2.9
2.9

3.4
3.5
3.4

2.9
2.8
2.8

3.4
3.1
3.

4.3
4.2
4.3

2.6

1.9
2.1

3.7

5.4

8.4

5.2

8.6

3.9

6.4

—6
-.6
-.6

2.3
2.2
2.2

5.1
4.7
4.9

3.7
3.5
3.6

5.1
4.7
4.9

.8
.6
.7

3.8

4.4
4.3
4.4

3.2
3.2
3.2

3.5
3.5
3.5

3.4
3.4
3.4

2.6
2.6
2.6

3.0
3.0
3.0

3.5
3.5
3.5

2.8

-3.9

7.7

18.0

1.0

10.5

14.5

-.2

17.5

-5.6
-5.9
-5.8

5.9
5.6
5.8

16.5
16.1
16.4

-2.1
-2.2
-2.2

9.4
9.1
9.3

14.0
13.3
13.6

-1.6
-1.1

2.5
2.1
2.2

2.3
2.0
2.2

1.8
1.6
1.7

3.6
3.3
3.5

1.8
1.5
1.7

1.4
1.4
1.4

1.9
1.6
1.7

2.2

3.1

7.5

1.1

4.9

8.2

-1.3
-1.4
-1.4

1.1
1.1
1.1

5.5
5.4
5.5

-1.5
-1.6
-1.6

2.5
2.4
2.5

6.8
6.4
6.6

-2.7
-2.6
-2.6

3.6
3.6
3.6

2.1
2.1
2.1

1.8
2.0
1.9

2.9
2.8
2.8

2.5
2.4
2.5

1.9
1.7
1.8

3.5
3.4
3.5

6.3

6.1

7.0

5.3

4.3

7.7

6.5

6.3

1.1
1.0
1.0

2.1
2.1
2.1

2.2
2.1
2.1

1.2
1.5
1.4

3.1
3.0
3.0

2.1
2.0
2.1

3.2
2.9
3.1

2.2

5.3
5.3
5.3

4.1
4.1
4.1

4.9
4.8
4.9

3.7
3.7
3.7

2.9
2.8
2.9

4.1
4.1
4.1

3.9
3.9
3.9

4.0

-9.8

6.8

-7.2

31.2

4.4

12.1

21.3

-5.9

-10.6
-11.1
-10.9

7.8
6.5
7.1

-4.6
-6.8
-5.8

29.5
29.6
29.6

6.5
4.3
5.4

10.4
T0.5
10.4

23.9
20.6
22.3

-6.4

7.1

-7.8

4.7

6.4

15.4

-8.5
-9.1
-8.9

5.5
4.3
4.9

7.4
6.4
6.9

15.2
14.3
14.7

2.3
.1
1.2

1.7
1.5
1.5

.9
.6

.1
.2
.2

1.6
1.0
1.3

2.2
1.5
1.9

-6.3

1.3

1.8

15.4

-.5

-7.0
-7.8
-7.5

3.0
1.2
2.1

3.0
1.6
2.3

16.1
15.0
15.5

.6
.5
.5

1.2
.5
.9

2.0
1.6
1.8

4.3

4.0
1.6

14.2

3.5

2.7
2.4

15.1

7.8

8.1

13.8
13.7
13.7

9.7
6.9
8.3

6.8

2.5
2.1
2.3

3.1

9.4

8.6

14.1

3.1
-.1
1.5

9.7
9.5
9.6

13.1
9.1
11.1

13.3

1.5
.7
1.1

.6
.2
.4

2.5

Structures:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Producers' durable
equipment:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights .

-6.5

-12.0
-12.0
-12.0

-6.9
-6.9
-6.9

1.7

1993

9.6

2.7
2.5
2.7

0
-A

4.8

3.4
3.4
3.4

2.9
2.9
2.9

4.6

2.2

-.8 -11.3
-1.0 -11.1
-1.0 - 1 1 . ;

-1.9
-1.4
-1.6

-1.3
-1.4
-1.4

1.7
1.8

2.4

-9.5

12.7

11.3

16.2

9.5
5.2
7.4

14.5
14.4
14.5

18.3
13.3
15.8

16.5

2.1
1.6
1.8

1.1
.4
.7

1.6
1.4
1.5

1.1
.1
.6

1.1
.1

-.9
-1.3
-1.1

1.0
.4
.7

1.3

-11.7

14.4

19.4

15.5

4.2

30.4

5.8

-5.5

-12.6
-12.6
-12.6

13.2
13.:
13.2

20.1
20.2
20.2

12.6
12.6
12.6

25.1
25.1
25.1

1.4
1.3
1.3

-9.5

1.0
1.0
1.0

1.1
1.1
1.1

2.5
2.4
2.5

3.9
3.8
3.S

4.4
4.2
4.3

4.4
4.4
4.4

4.3

-.5
-.6

6.4

3.4

-1.7

9.0

8.9

-2.0

8.1

6.3
5.6
6.0

2.9
2.7
2.8

-1.4
-2.7
-2.1

9.2
8.1
8.6

8.9
8.2

-2.8
-3.2
-2.9

6.7

1.1
.9
1.0

.6
.9
.7

2.0
1.6
1.8

1.7
1.4
1.6

1.!
1.3
1.5

2.2

7.5

-1.7

17.6

7.8

11.2

3.3

7.7

9.6
8.3
8.9

3.5
2.4
2.9

14.7
13.0
13.9

14.8
12.0
13.4

5.7
5.5
5.6

11.2
10.0
10.6

5.7

1.0
.3
.6

.8
.4
.6

-3.0
-2.9
-2.9

4.9
4.4
4.6

5.6
5.2
5.4

-2.6
-2.3
-2.5

-4.7
-5.2
-4.9

4.1

4.5

2.2

4.8

2.2

5.6

-.3

-2.4

2.8

1.2
1.0
1.1

National defense:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights ......
Price indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights

3.7

24.1
23.2
23.7

-.1
-1.2

Federal:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights

23.0

3.2
1.1
2.;

—9

,

2.1

7.5
5.3
6.3

2.1
2.0
2.0

Imports of goods and services:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights

5.3

-4.6
-5.6
-5.;

5.8
5.3
5.5

Exports of goods and services:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights

-4.1

7.4

Residential:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights ....
Benchmark-years weights

Government purchases:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights

-10.4

1992

1992

-.3
-.4
-.4

1.7
1.7
1.7

-1.2
-1.1
-1.2

3.8
3.6
3.7

-2.6
-2.9
-2.8

-7.1
-6.5
-6.8

.2

3.5
3.5
3.5

2.9
2.7
2.8

3.1
3.1
3.1

3.5
3.3
3.4

2.4
2.0
2.2

3.4
2.7
3.1

4.4
4.5
4.4

2.3

3.9

-.2

9.7

-3.1

-9.0

-.5

-4.7 -17.9
-5.7 -16.3
-5.2 -17.0

-3.0

7.6
8.3
8.0

1.7

4.9

1.0

-3.3
-3.3
-3.3

-3.0
-2.6
-2.8

-2.7
-2.7
-2.7

7.5
7.0
7.2

4.0
3.9
3.9

4.1
3.8
3.9

6.0
6.5
6.2

2.8
2.3
2.5

3.6
2.9
3.3

3.1

-2.5

-1.4

-2.4

10.5

-1.7 -16.5

1.1

-.2
-.6
-.4

-6.3
-6.3
-6.3

-7.7
-6.9
-7.3

-5.2
-5.5
-5.3

8.3
7.2
7.7

-3.5 -25.9
-4.7 -23.6

-1.5

3.8
3.7
3.7

4.5
4.1
4.2

5.6
6.1
5.8

3.2
2.6
2.9

4.1
3.6
3.9

1.2

4.3
2.8
3.5

-24.8
4.9
3.2
4.1

7.5
8.4
8.0

1.9

SURVEY OF CURRENT BUSINESS

24 • July 1993

Table 8.1 .—Percent Change From Preceding Period in Selected
Series—Continued

Table 8.2.—Selected Per Capita Product and Income Series in
Current and Constant Dollars and Population of the United States

[Percent]

[Dollars]
Seasonally adjusted at annual rates

1991

1992

1992

Seasonally adjusted at annual rates

1993

1991

1992

1992

I
Nondefense:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights ...
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights ...
Benchmark-years weights ....
State and local:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Addenda:
Final sales of domestic product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Gross domestic purchases:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Final sales to domestic purchasers:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Gross national product:
Current dollars
Quantity indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Price indexes:
Fixed 1987 weights
Chain-type annual weights
Benchmark-years weights
Command-basis gross national
product:
Quantity index, fixed 1987 weights
Disposable personal income:
Current dollars
1987 dollars

III

IV

I

II

Current dollars:

10.0

7.9

17.9

5.3

8.0

-6.6

10.9

-3.7

5.2
5.2
5.1

4.8
4.5
4.7

9.7
8.8
9.2

3.3
4.4
3.9

5.5
6.4
6.0

-7.6
-7.8
-7.7

4.4
3.1
3.8

-6.3

4.9
4.6
4.6

3.1
3.0
3.0

7.3
7.5
7.4

1.5
1.3
1.4

2.1
1.1
1.6

2.2
1.9
2.0

7.9
8.2
8.0

1.0

4.3

3.5

5.3

3.9

2.9

1.6

2.2

5.1

consumption
expenditures ...
Durable goods

1.2
1.1
1.1

1.7
1.6
1.7

5.1
4.7
4.9

-.2
-.1
-.2

1.4
1.4
1.4

-1.1
-1.1
-1.1

.5
.4
.5

2.3

MnnHi irahlo

3.1
3.1
3.1

1.9
1.9

4.0
4.0

4.0

2.8
2.7
2.7

1.8
1.9
1.9

2.8

1.9

1.4
1.4
1.4

3.1

4.5

8.0

2.6

4.8

7.4

2.6

6.0

-.8
-.8

1.1
1.6
1.7

4.7
4.4
4.5

-.1
-.1
-.1

2.8
2.6
2.7

5.2
4.7
4.9

-1.2
-1.4
-1.3

3.7

4.0
4.0
4.0

2.9
2.8
2.9

3.4
3.5
3.4

2.9
2.8
2.8

2.2
1.9
2.0

3.4
3.1
3.2

4.3
4.2
4.3

2.6

1.9

4.9

5.6

6.4

5.2

7.4

4.8

4.0

-1.8
-1.8
-1.8

2.5
2.2
2.4

3.0
2.6
2.8

3.4
3.2
3.3

4.1
3.6
3.9

4.4
4.0
4.2

2.4
1.8
2.1

1.5

3.8
3.8
3.8

2.8
2.8
2.8

2.9
3.0
3.0

3.2
3.1
3.1

2.5
2.3
2.4

2.9
2.7
2.8

3.5
3.5
3.5

2.7

2.2

4.7

7.4

4.7

4.7

7.7

3.2

6.0

-1.4
-1.5
-1.5

2.2
2.0
2.1

4.7
4.3
4.5

1.7
1.6
1.6

3.5
3.1
3.3

4.8
4.4
4.6

.5

3.6

3.8
3.8
3.8

2.8
2.8
2.8

3.0
3.0
3.0

3.2
3.1
3.1

2.5
2.3
2.4

2.9
2.7
2.8

3.5
3.5
3.5

2.7

2.7

4.7

6.8

3.4

5.7

6.5

2.0
1.8
1.9

3.6
3.2
3.4

.7
.6
.7

3.9
3.6
3.7

4.1
3.7
3.9

2.9
2.8
2.9

3.4
3.5
3.4

2.9
2.8
2.8

2.1
1.9
2.0

3.4
3.1
3.2

2.2

4.3

4.7

3.4

2.1

4.1
-.2

5.3
2.2

7.3
4.0

2.0
.5

7.8
4.3

5.8
2.7

4.8
1.2

3.8
1.3

NOTE.—Except for disposable personal income, the quantity and price indexes in this table are calculated from
weighted measures use as weights the composition of output in 1987. For the alternative indexes, the chain-type
indexes with annual weights use weights for the preceding and current years, and the indexes with benchmarkyears weights use weights of 1959, 1963, 1967, 1972, 1977, 1982, and 1987 and the most recent year.

23,296

22,958

23,141

23,373

23,709

23,901

24,075

22,535
19,106

23,340
19,802

23,035
19,578

23,169
19,717

23,426
19,790

23,729
20,119

23,937
20,369

20,513

16,658

17,346

17,143

17,297

17,332

17,610

17,818

17,937

15,384
1,765

16,035
1,881

15,814
1,845

15,907
1,845

16,063
1,887

16,353
1,946

16,468
1,940

16,683
2,014

4,952
8,666

5,053
9,101

5,008
8,960

5,009
9,053

5,054
9,122

5,140
9,267

5,136
9,392

5,158
9,511

product
Disposable
personal
income
Personal

19,077

19,272

19,159

19,182

19,288

19,456

19,444

19,469

19138

19311

19 225

19 208

19 335

19 476

19 478

13,886

14,035

14,017

14,021

13,998

14,105

14,165

14,172

expenditures ...
Durable goods

12,824
1,641

12,974
1,719

12,930
1,700

12,893
1,686

12,973
1,719

13,098
1,771

13,092
1,764

13,180
1,818

4,125
7,058

4,127
7,128

4,126
7,104

4,099
7,108

4,113
7,141

4,169
7,158

4,131
7,197

4,145
7,217

MnnHi irahlo

4.3
4.2
4.3

-1.0

22,466

Constant (1987)
dollars:
Gross domestic
product

1.0
.6

4.0'
4.0
4.0

product
Personal income .
Disposable
personal
income

goods
Services

4.6

-1.2
-1.2
-1.2

Gross domestic
product

pprcnnal

weighted averages of the detailed output and prices used to prepare each aggregate and component. The fixed-




II

1993

goods
Services
Population (midperiod,
thousands)

252,711 255,435 254,388 255,054 255,786 256,513 257,140 257,816

SURVEY OF CURRENT BUSINESS

July 1993

Table 8.3.—Auto Output

25

Table 8.4—Auto Output in Constant Dollars

[Billions of dollars]

•

[Billions of 1987 dollars]
Seasonally adjusted at annual rates

1991

1992

1992

1993

119.7 132.8 125.1 135.0 135.0 136.0 139.2 142.7

Auto output
Final sales
Personal consumption expenditures
New autos
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
Net exports
Exports
Imports
Government purchases
Change in business inventories of
new and used autos
New
Used
Addenda:
Domestic output of new autos1
Sales of imported new autos2 .

119.7 130.8 129.9 130.3 129.3 133.6 128.3 142.3
115.3 123.8 124.4 122.0 121.4 127.7 127.4 137.1
79.5 85.4 87.6 83.1 82.3 88.6 84.8 90.0
35.8 38.5 36.7 38.9 39.1 39.1 42.6 47.1
36.6 36.9 36.0 38.7 36.2 36.7 34.2 39.4
59.8 61.7 57.6 65.2 61.8 62.4 59.9 71.5
-23.3 -24.8 -21.6 -26.5 -25.6 -25.7 -25.8 -32.2
-33.9 -31.5 -32.0 -32.0 -29.9 -32.1 -34.9 -35.7
11.7 14.6 12.4 13.4 16.5 16.1 14.7 15.5
45.6 46.1 44.4 45.4 46.4 48.2 49.6 51.2
1.7
1.6
1.6
1.7
1.5
1.3
1.5
1.5
0
-.3
.4

2.0
1.4
.7

94.7 104.5
56.2 58.6

4.7
2.9
1.8

-4.8
-3.1
-1.7

Seasonally adjusted at annual rates

5.8
4.7
1.0

2.5
.9
1.5

10.9
11.5

-1.3
1.8

98.5 104.8 105.5 109.0 114.8 110.9
56.8 61.1 57.9 58.8 55.4 63.9

1991

1992

1992

1993

109.3 117.1 111.2 121.4 118.6 117.3 118.1 121.3

Auto output
Final sales
Personal consumption expenditures .
New autos
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
Net exports
Exports
Imports
Government purchases

109.2
107.6
72.6
35.0
32.4
54.7
-22.3
-32.2
10.6
42.8

115.5 117.7 115.6
111.7 115.0 110.8
76.1 79.2 74.3
35.5 35.8 36.6
32.2 31.2 33.5
55.0 52.0 58.3
-22.8 -20.8 -24.8
-29.7 -29.7 -30.2
13.0 11.2 11.9
42.7 40.8 42.1
1.4
1.3
1.5
1.3

Change in business inventories of
new and used autos
New
Used

112.7 116.2 111.2
108.4 112.6 111.6
73.0 78.2 74.6
35.4 34.4 37.0
31.7 32.5 30.2
54.8 55.1 52.7
-23.1 -22.6 -22.4
-28.8 -30.0 -32.0
14.6 14.3 13.0
43.4 44.3 45.0
1.1
1.3
1.3

39.4
35.2
62.4
-27.2
-32.7

121.6
117.9
78.5

13.6
46.3

1.2

1.6
1.0
.6

Addenda:
Domestic output of new autos1
Sales of imported new autos2

86.4
51.4

-4.9
-1.7

5.8
4.1
1.7

6.0
5.1

1.1
-.2
1.3

6.9
7.5
-.6

-.3
-1.7
1.5

92.9
52.3

87.1
51.3

94.8
54.6

94.4
51.4

95.6
51.9

98.8
48.7

96.4
55.7

-6.6

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.

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 8.5.—Truck Output

Table 8.6.—Truck Output in Constant Dollars

[Billions of dollars]

[Billions of 1987 dollars]

Truck output1
Final sales
Personal consumption expenditures
Producers' durable equipment
Net exports
Exports
Imports
Government purchases
Change in business inventories
1. Includes new trucks only.




67.9

83.9

78.0

81.7

81.2

94.9 100.7

69.4
36.2
30.9

71.1

9.2
6.0

82.7
43.6
37.7
-5.1
5.6
10.7
6.6

4.6
11.1
5.6

84.4
43.2
37.1
-4.3
6.2
10.5
8.4

82.3
44.6
37.6
-5.0
5.3
10.3
5.0

93.2
48.6
41.9
-4.6
6.2
10.8
7.4

-1.5

1.2

6.9

-2.7

-1.1

1.7

-3.8
5.4

37.9
34.0
-6.5

98.0

91.1 104.6
47.6 52.8
46.2 49.9
-6.7 -5.8
5.2
6.1
11.9 11.9
7.7
3.9

9.7

-6.6

Truck output1

60.4

72.0

68.1

70.2

69.2

80.7

84.3

81.2

Final sales
Personal consumption expenditures ..
Producers' durable equipment
Net exports
Exports
Imports
Government purchases

61.7
32.0
27.7
-3.3
4.8
8.2
5.4

71.0 62.0
37.3 33.0
32.3 29.7
-4.4 -5.7
4.8
4.0
9.2
9.7
5.7
4.9

72.4
37.0
31.9
-3.7
5.3
9.0
7.2

70.1
38.0
32.1
-4.2
4.6
8.8
4.3

79.3
41.3
35.6
-3.9
5.3
9.2
6.3

76.4
40.2
38.6
-5.7
4.4
10.1
3.3

86.5
43.9
41.1
-4.8
5.0

Change in business inventories

-1.3

-2.3

-.9

1.4

8.0

-5.3

1. Includes new trucks only.

1.1

6.1

9.9
6.3

26 • July 2993

SURVEY OF CURRENT BUSINESS

NIPA

Charts

REAL GDP AND ITS COMPONENTS: TRENDS AND CYCLES
Billion 1987 $; seasonal adjusted annual rates

Personal const mption expenditures- -

Gross prt ate domestic investment-

Change ir business

Net exports of good; and servi :es—

Government purchases—
~~ State anJlocaT

I I I I II I I I I I III I I M I I I I I I I II I I I I

I III H I

I I I I I M I I I I I I I I I I I I I I I I I I I I I I I 1 i I I I I I I I ! I I I I I I I | I I | | I I | | | | | | | | || | || I I I ! I I I I

1965 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88




90

91

92 1993

SURVEY OF CURRENT BUSINESS

REAL GROSS DOMESTIC PRODUCT'

I.

1 ..lil

REAL GROSS DOMESTIC PURCHASES1

REAL DISPOSABLE PERSONAL INCOME




GROSS DOMESTIC PURCHASES PRICE INDEX

Li

CORPORATE PROFITS WITH IVA AND CCAdj2

July 1993 •

2J

28

SURVEY OF CURRENT BUSINESS

July 1993

Note on Revisions to BEA Estimates of Wages and Salaries
available source data—Bureau of Labor
Statistics (BLS) tabulations by State of wages and salaries of employees covered by State unemployment insurance (ui) for the
fourth quarter of 1992—have been incorporated into the estimates of State personal income for 1992 (see page 37 of "Personal
Income by State and Region, First Quarter 1993" in this issue).
Next month, the ui tabulations for all four quarters of 1992 will
be incorporated into the national income and product accounts
(NIPA'S) as part of a regular annual NIPA revision. The revisions
from the ui tabulations point to an anticipated upward revision
of $50 billion in the NIPA estimate of wage and salary disbursements for 1992.1 As explained in the next section, the anticipated
upward revision in the NIPA estimate of wage and salary accruals
for 1992 is somewhat smaller—$31 billion.
Table 1 compares the percent changes in wages and salaries
in the presently published NIPA series and in the revised State
personal income series. Because much of the upcoming revision
stems from accelerated bonus payments—that is, the payment
in the fourth quarter of 1992 of yearend bonuses that typically
would have been paid in the first quarter of 1993—differences
between the percent changes in the two series are particularly
large beginning with the fourth quarter of 1992.
The revisions in wages and salaries will affect the major NIPA
income aggregates, such as national and personal income. As
discussed in the last section, GDP will be affected much less.
THIS MONTH, NEWLY

Revision to 1992 NIPA wages and salaries
The $50 billion upward revision in NIPA wage and salary disbursements for 1992 reflects the regular incorporation in an
annual NIPA revision of more accurate source data. The presently
published NIPA estimates of wages and salaries in most private
nonfarm industries and in State and local governments for 1992
1. In the April 1993 SURVEY OF CURRENT BUSINESS, BEA had announced that it was

anticipating a $15 billion upward revision in NIPA wage and salary disbursements. That
anticipation reflected the preliminary estimates of State personal income for 1992, which
were published in that issue. Those estimates were based primarily on ui tabulations for
the first three quarters of 1992 and on a BEA national estimate for the fourth quarter.

Table 1.—Wage and Salary Disbursements: Change From Preceding
Period in NIPA and State Personal Income Estimates
[Percent; quarterly changes at annual rates]
1992

1993

and for the first two quarters of 1993 are based primarily on
monthly national data on employment, average weekly hours,
and average hourly earnings from the BLS establishment survey. The revised 1992 NIPA estimates will be based on the sum
of the four quarters of ui tabulations of wages and salaries of
employees covered by State unemployment insurance.2 The incorporation of the ui tabulations may result in revisions because
the establishment survey (1) is a sample survey, (2) covers only
the pay period including the 12th of each month, (3) collects
hours and earnings data only for production and nonsupervisory employees, and (4) excludes irregular bonuses and other
lump-sum payments from earnings. In preparing the current
quarterly estimates, BEA makes assumptions about missing information and incorporates adjustments needed to estimate total
wages and salaries. For example, by extrapolating the annual
ui-based total wages and salaries with information from the establishment survey, BEA assumes that excluded bonuses are paid
in proportion to the earnings covered by the survey.3
Based on a preliminary review of the composition of the anticipated $50 billion revision to wage and salary disbursements
for 1992, BEA estimates that $19 billion is accounted for by bonus
payments that typically would have been made in the first quarter of 1993.4 Of the remainder, $8 billion is accounted for by an
understatement of the establishment survey employment data,
and $23 billion is accounted for by a combination of understatements of (1) weekly hours and average hourly earnings in
the establishment survey and (2) BEA'S estimates of hours and
earnings of nonproduction and supervisory workers.
As noted above, the anticipated revisions differ for the
two NIPA wage and salary components—wage and salary disbursements and wage and salary accruals. The disbursements
measure, which is a component of personal income and appears in table 2.1 of the "Selected NIPA Tables," is defined on a
"when-paid" basis. The accrual measure, which is a component
of national income and appears in NIPA table 1.14, is defined on
a "when-earned" basis. The difference between these measures
reflects wages and salaries that are earned and paid in different periods, such as retroactive pay and bonuses declared by
employers but paid at a later date. Thus, a bonus payment is
recorded as an accrual when the employee earns the bonus and
as a disbursement when the employee receives the bonus money.
Because the accelerated bonus payments that contributed to the
1992 revision were earned as well as paid in 1992, the antici-

1992

I
Presently published NIPA series
Revised State personal income series

3.8
5.6

4.7
3.3

II
3.3
4.8

III
3.1
4.3

IV
6.5
18.3

I
4.9
-15.2

NOTE.—Changes in the presently published NIPA series are calculated from the levels found in table 2.1 of the
"Selected NIPA Tables." Changes in the revised State personal income series are calculated using the levels of
the national totals of the wage and salary disbursements series underlying the personal income series found in
table 1 of "Personal Income by State and Region, First Quarter 1993" in this issue. The revised NIPA series that
will appear in next month's Survey in the annual NIPA revision will differ from the revised State personal income
series because of the incorporation of additional source data. The revised NIPA series will reflect the incorporation
of new source data for industries not covered by unemployment tabulations and revised BLS establishment survey
data. The new source data will affect both the annual 1992 and the quarterly 1992 and 1993 estimates. The
revised establishment survey data will affect the quarterly pattern for all years (1990-93) covered by the revision.




2. The ui tabulations are not available in time for the current quarterly NIPA estimates;
the latest available tabulations are for the fourth quarter of 1992.
3. Bonus payments are included in the average hourly earnings data from the establishment survey if they are earned and paid regularly each pay period. Bonus payments that are
excluded consist mainly of payments from profit-sharing plans, deferred bonuses, longevity
awards, and suggestion bonuses.
4. In the January 1993 SURVEY, BEA had adjusted its fourth-quarter estimate of wage and
salary disbursements to reflect an estimated acceleration of $1.5 billion in bonus payments
to employees in the securities industry. At that time, BEA had only fragmentary information
on bonus payments in that industry and had no information on bonus payments in other
industries.

SURVEY OF CURRENT BUSINESS
pated revision to the accrual series is $19 billion less than the
anticipated revision to the disbursements series. This difference
will appear as the revision to the wage accruals less disbursements component of the section of NIPA table 1.9 that shows the
relationship of national income to personal income.
Revisions to quarterly

NIPA

wage and salary disbursements

For an annual revision, if the annual estimates of wage and salary
disbursements and accruals are equal, the quarterly NIPA estimates of both measures are based on quarterly patterns derived
by BEA from the monthly establishment survey data and adjusted
to the annual totals from the ui tabulations. This methodology
assumes that for both measures, bonus payments earned in a
year are distributed throughout the year in proportion to regular
wages and salaries. If the annual estimates of the two measures
are not equal, as in 1992 because of accelerated bonus payments,
BEA makes special adjustments to the disbursements series. For
this annual revision, an initial quarterly pattern for both series
will be derived from the establishment survey data and from the
annual estimate of accruals for 1992—that is, an estimate that excludes the $20 billion total value of accelerated bonus payments.
For the disbursements series, this pattern will then be adjusted
by adding $80 billion—the $20 billion at an annual rate—to the
fourth quarter of 1992 and by subtracting the same amount from
the first quarter of 1993. (This procedure also was used to derive
the revised quarterly State estimates that appear in this issue.)
On the revised basis, wage and salary disbursements will show a
sharp increase from the third quarter of 1992 to fourth quarter
of 1992, a sharp decrease from the fourth quarter of 1992 to the
first quarter of 1993, and a sharp increase from the first quarter
of 1993 to the second quarter of 1993.




July 1993 •

29

Impact on other NIPA series
If the anticipated revisions from the incorporation of the ui tabulations of wages and salaries for 1992 described above were the
only revisions to be reflected in this year's annual NIPA revision,
several major NIPA aggregates—personal income, disposable personal income, and personal saving-—would be revised up $50
billion. However, as announced on page 51 of the April 1993 SURVEY, BEA also anticipates a $15 billion upward revision in Federal
personal income taxes. This revision would reduce the upward
revisions in disposable personal income (personal income less
personal taxes) and in personal saving (disposable personal income less personal outlays) to $35 billion. The revision in wage
and salary accruals would result in $31 billion upward revisions
in employee compensation, national income, and gross domestic
income.
GDP is measured as the sum of expenditure components, and
its methodology makes limited use of wage and salary data. As
a result, the incorporation of the ui tabulations of wages and
salaries is anticipated to have only a small effect on GDP. The
ui tabulations are only used to estimate the wage and salary
component of State and local government purchases and a few
categories of personal consumption expenditures (PCE). For State
and local government wages, BEA anticipates an upward revision
of $2 billion. For PCE, BEA anticipates an upward revision of
about $5 billion. Thus, BEA anticipates that the incorporation of
the ui tabulations will raise GDP by about $7 billion for 1992.
The difference between the $7 billion upward revision in GDP
and the $31 billion upward revision to gross domestic income
would result in a $24 billion downward revision in the statistical
discrepancy, which is the difference between GDP and gross domestic income. These measures are conceptually the same, but
they differ in practice because they are estimated from largely
independent sources. H

SURVEY OF CURRENT BUSINESS

30 • July 1993

Corrections and Additions:
Gross Product by Industry
Corrections and additions to the gross product by industry estimates that appeared in "Gross Product by
Industry, 1977-90" in the May 1993 SURVEY OF CURRENT BUSINESS are provided on the following pages. Table 1
shows corrected rates of change for selected periods, previously published in tables 1 and 11 of the May article.
Table 2 shows corrected estimates of current- and constant-dollar gross product for nonfarm housing services
and for other real estate, previously published in tables 9 and 12 of the May article. Table 3, which shows indexes
of real gross product by industry for 1977-90, adds to and corrects table 11 of the May article, which had shown
indexes for only 1977, 1982, and 1987-90. Table 4, which shows real gross product by industry as a percentage
of real GDP for 1977-90, adds to and corrects table 2 of the May article, which had shown percentages for only
1977> 1982, 1987, and 1990 and for only major industry groups.
Table 1.—Annual Rates of Change of Indexes of Real Gross
Domestic Product by Industry for Selected Periods
[Percent]
Line

1977-87

1977-90

1977-82

1982-90

Corrections to table 1

01

2.4

Manufacturing

.5

1.8

2.0

Nondurable goods

Corrections to table 11

12

01

Durable goods:
Machinery, except electrical
Electric and electronic equipment
Instruments and related products

19
21
25

53
46
22

Nondurable goods
Tobacco manufactures
Textile mill products
Paper and allied products
Petroleum and coal products

27
29
30
32
35

18
-6 6
1 7
9

5
-5 4
-7
-7
-6

Finance, insurance and real estate:
Real estate:
Nonfarm housing services
Other real estate

62
63

2.8
3.2

4.4
1.6

Manufacturing

-7 3
31

1.9
4.1

Table 2.—Current- and Constant-Dollar Gross Domestic Product for Nonfarm Housing Services and Other Real
Estate
Line

1977

1978

1979

1980

1981

1982

1983

1984

1985

1986

1987*

1987*

1988

1989

1990

Corrections to table 9 (Billions of dollars)

Nonfarm housing services
Other real estate

62
63

140.6
54.5

157.6
64.2

178.3
74.3

207.9
80.7

238.0
88.6

261.4
92.7

277.9
107.3

301.8
125.7

327.9
131.8

350.1
134.7

375.6
145.7

375.6
145.9

404.5
163.6

432.4
177.1

458.7
182.6

375.6
145.7

375.6
145.9

386.0
163.4

393.1
167.1

398.8
167.5

Corrections to table 12 (Billions of 1987 dollars)

Nonfarm housing services
Other real estate

62
63

277.6
111.4

290.9
120.4

305.2
133.1

325.4
127.6

* Estimates for 1987 are shown on the basis of both the 1972 and 1987 Standard Industrial
Classification (SIC). The estimate based on the 1972 SIC is shown first and is comparable with
estimates back to 1977; the estimate based on the 1987 SIC is shown second and is comparable
with estimates after 1987.




337.5
122.7

344.0
120.9

344.8
130.4

355.3
143.9

364.0
140.7

366.6
135.3

SURVEY OF CURRENT BUSINESS

July 1993 •

31

Table 3.—Indexes of Real Gross Domestic Product by Industry'
[Index numbers, 1987=100]
Line

1977

1978

1979

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1

75.5

79.4

81.7

81.7

83.9

82.3

85.5

91.2

94.2

96.9

100.0

103.9

106.6

107.4

2

75.1

78?9

80.6

79.7

81.4

80.8

83.6

90.1

93.5

96.3

100.0

104.2

106.7

107.2

3
4
5

71.9
81.5
43.6

66.9
72.9
49.1

70.5
76.4
53.3

71.4
77.2
54.3

82.1
92.1
53.0

82.8
91.2
58.2

77.3
81.2
65.7

80.7
83.5
72.7

92.5
97.2
78.7

95.4
97.3
90.0

100.0
100.0
100.0

96.1
95.7
97.2

99.4
100.3
96.7

106.4
106.8
105.2

Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels

6
7
8
9
10

100.6
63.7
76.1
108.0
93.3

102.4
58.2
71.3
110.4
104.8

86.6
60.7
68.3
90.0
98.5

96.2
60.0
81.0
101.7
89.8

89.3
94.7
82.6
92.3
74.2

88.0
98.8
88.9
89.7
67.2

85.8
104.9
81.4
87.1
75.7

98.7
107.0
91.7
100.2
95.7

100.4
96.3
90.3
104.0
88.6

99.9
111.1
103.8
99.0
97.0

100.0
100.0
100.0
100.0
100.0

113.7
169.3
110.5
113.6
99.6

100.8
208.5
118.6
92.5
101.5

105.6
228.5
124.5
96.3
105.9

Construction

11

89.6

93.3

94.0

87.0

82.0

77.4

79.8

89.6

98.1

98.2

100.0

99.1

99.9

97.8

Manufacturing

12

'78.7

81.7

83.5

78.9

82.1

'79.0

82.3

89.5

91.9

92.4

100.0

105.3

106.2

105.1

Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Machinery, except electrical
Industrial machinery and equipment
Electric and electronic equipment
Electronic and other electric equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries

13
14
15
16
17
18
19
20
21
22
23
24
25
26

'76.5
74.5
74.7
'105.7
138.9
92.1
'52.1

80.8
74.8
80.4
107.1
150.6
95.0
56.8

81.9
75.0
75.5
106.1
144.7
98.0
61.1

78.2
69.7
78.3
94.3
134.0
92.7
64.2

80.5
63.8
79.4
88.2
141.5
93.0
68.7

75.5
62.5
73.1
73.2
'103.6
83.2
'67.3

78.1
72.6
82.2
87.8
88.5
86.0
68.0

89.9
81.7
89.9
96.0
102.8
95.5
80.1

92.1
80.7
94.3
98.9
96.0
97.4
85.8

92.7
88.7
94.0
104.6
103.8
95.3
83.9

100.0
100.0
100.0
100.0
100.0
100.0
100.0

107.0
96.9
99.8
104.3
95.0
104.4

108.2
94.0
101.2
108.2
91.7
103.0

106.6
91.8
93.6
108.1
96.8
99.4

110.3

116.2

115.6

'59.6

65.8

71.2

77.0

80.5

74.5

78.7

89.8

92.6

92.8

100.0

115.8
62.9
'82.4
'85.9

117.8
65.6
85.8
84.0

105.2
70.5
89.2
79.5

69.8
70.6
87.9
70.7

76.9
62.8
94.3
82.4

67.2
77.6
91.7
'78.3

81.0
73.5
94.7
72.3

100.9
80.3
101.4
97.6

107.0
82.0
97.1
93.8

99.2
88.5
98.9
93.2

100.0
100.0
100.0
100.0

i107.2
io.2
103.1
123.3
113.2

118.3
96.2
107.8
122.7
115.4

114.5
81.8
113.7
130.4
113.6

Nondurable goods .
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and othei textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics products
Leather and leathei products

27
28
29
30
31
32
33
34
35
36
37

'81.9
'78.8
'185.2
'84.6
'84.4
'84.0
'81.6
'80.6
'78.6
'61.6
'151.0

82.8
82.4
195.6
86.1
91.4
86.8
84.7
82.6
60.2
64.8
151.7

85.6
84.1
196.2
88.4
93.6
86.0
90.6
81.0
77.8
67.0
133.6

79.8
84.3
182.3
87.5
90.9
79.3
86.8
71.4
57.3
64.0
142.3

84.1
86.3
196.3
86.6
89.0
79.1
87.8
75.2
79.4
70.2
140.6

'84.1
'94.2
'140.5
'81.7
'83.4
'80.9
'87.9
75.8
'76.2
67.2
132.4

88.3
93.3
125.2
90.8
91.1
87.7
89.8
82.1
84.8
74.0
123.8

89.0
92.1
112.9
91.5
94.4
90.3
93.8
81.4
81.6
83.6
115.3

91.7
97.2
110.2
89.4
93.1
91.6
96.4
81.4
91.7
90.4
104.5

92.0
94.8
112.2
95.6
97.2
94.9
96.0
90.6
71.8
89.8
91.1

100.0
100.0
100.0
100.0
too.o
100.0
100.0
100.0
100.0
100.0
100.0

103.1
104.4
93.5
98.6
104.0
103.1
103.5
101.1
114.7
100.5
106.7

103.6
100.8
79.8
102.9
109.2
102.5
105.0
102.2
117.3
107.7
107.2

103.2
103.2
76.6
104.7
104.8
109.5
102.0
106.9
87.9
108.7
110.5

38
39
40
41
42
43
44
45
46
47
48
49
50

74.9
76.7
74.0
114.6
86.3
107.4
48.6
116.4
51.8
57.6
53.3
92.8
88.6

77.4
79.3
80.9
110.9
86.1
114.9
56.9
86.5
59.7
63.2
59.1
97.3
88.3

79.9
82.6
83.7
109.9
87.7
116.6
61.7
109.6
63.6
67.5
63.9
97.3
88.2

80.1
78.7
85.1
97.6
83.3
116.6
54.8
100.5
66.2
74.0
71.2
97.2
87.2

80.3
76.2
82.5
89.0
77.2
121.1
54.6
113.0
68.9
77.3
74.8
98.1
87.4

78.9
75.6
71.7
84.1
75.5
112.6
61.3
128.8
71.1
79.1
76.5
100.2
82.3

83.8
83.3
79.8
85.3
85.5
106.9
111
121.2
76.7
84.3
82.3
100.9
83.8

89.9
89.4
90.5
95.3
93.8
108.0
75.5
103.8
83.9
91.1
89.4
105.1
89.4

90.9
89.9
90.2
95.3
95.4
105.1
72.7
103.0
91.8
90.7
90.2
95.6
92.2

92.1
93.4
89.8
98.6
97.5
102.3
86.2
81.5
95.4
92.3
92.8
87.6
90.7

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

102.8
98.3
106.5
93.1
94.7
96.5
99.2
91.9
105.9
105.9
105.2
110.3
104.8

105.5
101.3
101.9
100.4
99.5
98.3
101.6
96.3
112.5
106.3
104.5
118.6
109.3

108.6
105.3
108.4
100.8
99.5
101.2
113.8
92.8
115.1
110.0
109.0
116.8
110.9

Wholesale trade

51

56.2

61.4

64.7

63.0

68.6

72.1

74.1

85.8

90.2

101.5

100.0

103.4

108.7

106.6

Retail trade

52

72.2

76.8

76.1

72.7

75.1

76.5

82.9

90.4

95.7

103.0

100.0

105.7

109.5

108.2

Finance, insurance, and real estate
Banking
DeDositorv institutions
Credit agencies other than banks
NondeDositorv institutions
Security and commodity brokers
Insurance carriers ..
Insurance agents, brokers, and service
Real estate
Nonfarm housing services
Other real estate
Holding and other investment offices

53
54
55
56
57
58
59
60
61
62
63
64

73.7
78.1

77.9
81.7

82.4
86.2

85.5
90.2

87.0
93.7

87.5
95.2

89.9
95.6

94.1
96.4

95.9
97.9

95.9
99.5

100.0
100.0

104.6

107.3

107.2

i'66.o

ioo.6

100.4

100 3
96.2
118.8
103.5
105.3
'102.8
112.0
103.1

99.7
110.1
129.2
102.2
107.4
'104.7
'114.5
103.1

104 1
105.4
112.3
108.9
108.6
'106.2
'114.8
108.9

Services
Hotels and other lodging places
Personal services ...
Business services ...
Auto repair, services, and parking
Miscellaneous repair services
Motion pictures
Amusement and recieation services
Health services
Legal services
Educational services
Social services and membership organizations
Miscellaneous professional services
Other services
Private households

65
66
67
68
69
70
71
72
73
74
75
76
77
78
79

104.0
101.3
106.1
107.6
102.9
109.2
95.0
103.4
100.4
108.0
104.0
109.8

108.2
106.4
103.9
115.3
100.1
116.6
109.9
111.6
101.7
107.9
106.3
119.1

111.5
103.9
99.2
121.7
102.6
117.7
102.7
122.3
103.8
107.7
108.6
125.0

Gross domestic product
Private industries

....

Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries

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
Communications
Telephone and telegraph
Radio and television
Electric, gas, and sanitary services

1

52^9

58.0

61.5

63.0

65.0

65.1

71.7

79.2

84.9

93.4

100.0

59.7
114.9
90.0
95.8
94.6
98.8
78.0

70.5
114.6
90.0
96.8
96.9
96.6
84.3

70.0
108.3
91.3
96.3
97.6
92.9
91.6

100.0
100.0
100.0
100.0
100.0
100.0
100.0

33.8
105.1
71.0
74.6
'73.9
'76.5
53.4

40.2
111.3
71.6
78.9
77.5
82.7
55.5

41.3
114.5
71.8
84.1
81.2
91.4
59.7

46.1
119.4
74.9
86.9
86.6
87.6
60.2

52.8
111.3
78.6
88.3
89.8
84.2
63.3

47.2
104.3
85.1
89.2
'91.6
'83.0
69.1

64.4
103.4
85.3
91.2
91.8
89.5
70.7

68.7
78.2
88.1
45.5
75.8
80.3
59.4
60.4
76.9
75.3
81.3
74.3
64.0

73.2
81.8
89.5
50.6
81.8
89.2
79.1
63.3
79.7
81.2
83.9
78.5
69.8

75.6
79.3
87.4
55.7
85.5
92.0
72.8
67.1
82.0
82.7
84.2
80.7
75.8

77.7
72.8
85.8
59.5
83.2
98.9
69.5
71.4
85.7
84.3
86.5
82.7
78.4

79.6
72.6
84.2
62.9
82.3
95.2
71.8
75.1
88.3
84.3
85.3
83.5
84.2

80.3
74.2
82.4
64.8
79.5
90.9
77.6
77.5
90.2
85.6
86.5
83.3
79.0

82.8
81.4
85.2
69.7
83.7
93.5
76.6
82.6
91.0
84.4
88.3
85.3
82.2

87.7
86.9
88.2
79.4
91.1
104.2
81.2
83.2
91.6
89.6
91.5
88.4
89.4

92.1
92.1
96.7
86.6
103.1
91.7
86.5
91.0
93.3
92.4
93.7
90.8
94.6

95.9
95.6
99.5
93.1
102.1
102.1
93.5
94.3
94.4
99.8
94.7
95.4
99.3

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

117,8

120.5

105.3

93.2

87.4

85.2

85.2

97.9

97.4

101.4

ibo.b

103.0
106.6

111.4
112.7

i'ig.6
114.4

80

87.2

89.5

91.4

93.3

93.8

93.0

94.0

94.8

96.7

98.4

100.0

101.9

104.0

106.7

Federal
General government
Government enterprises

81
82
83

92.6
90.5
102.1

95.2
91.4
112.0

94.8
90.8
112.6

96.4
92.0
116.1

96.9
93.1
113.8

95.1
94.1
99.5

97.0
95.6
103.1

97.4
96.7
100.6

98.5
98.2
100.2

98.7
98.4
99.7

100.0
100.0
100.0

101.6
101.4
102.4

102.5
101.9
105.1

104.3
103.2
109.1

State and local
General government
Government enterprises

84
85
86

84.4
85.1
111

86.6
87.3
79.7

89.7
90.1
85.3

91.7
92.0
89.3

92.2
92.6
89.0

91.9
92.2
89.2

92.4
92.4
92.2

93.4
93.3
94.5

95.8
95.7
97.0

98.2
98.0
100.1

100.0
100.0
100.0

102.1
102.0
103.2

104.7
104.7
105.0

107.9
108.0
106.9

87

77.8

81.6

83.6

83.2

84.7

82.8

86.1

91.4

94.3

97.0

100.0

103.9

106.6

107.4

Government

Addendum:
Gross domestic product with fixed 1987 weights

' Revised: Previously shown in table 11 (page 53) of the May 1993 SURVEY OF CURRENT BUSINESS.
1. For 1977-86, indexes for GDP and for manufacturing are the benchmark-years-weighted measures. Indexes
for nonmanufacturing industries for all years and for 1988-90 for GDP and manufacturing are the fixed-weighted
measures.




NOTE.— Indexes for 1977-86 are calculated using the 1987 value based on the 1972 Standard Industrial Classification (SIC). Indexes for 1988-90 are calculated using the 1987 value based on the 1987 SIC.

SURVEY OF CURRENT BUSINESS

July 1993

Table 4.-1

Gross Domestic Product by Industry as a Percentage of Real Gross Domestic Product'
[Percent]
Line

1977

1978

1979

1980

1981

1983

1984

1985

1987*

1986

1987*

1988

1989

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

1.9
1.6
.3

1.6

1.7

1.9

1.3
.3

1.4
.3

2.0
1.6
.4

1.8
1.4
.4

1.7
1.3
.4

1.9
1.5
.4

1.9
1.5
.5

1.9
1.5
.5

1.8
1.3
.5

1.8
1.4
.5

Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels

2.4
0
.3
1.9
.2

2.4
0
.2
1.9
.2

1.9
0
.2
1.5
.2

1.7
1.4
.3
2.2
0

100.0
1.9
1.5
.5

100.0

Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries

2.0
.1
.3
1.5
.1

1.8
.1
.3
1.4
.1

2.0
.1
.3
1.5
.2

1.9
.1
.3
1.5
.1

1.9

1.8
.1
.3
1.3
.2

1.8
.1
.3
1.3
.2

2.0
.1
.3
1.5
.2

1.7

Construction

5.6

5.5

5.4

5.0

4.6

4.4

4.4

4.6

'20.2

19.9

19.8

18.7

18.9

18.6

18.6

19.0

"11.2
.7
.3
.8
1.5
1.6
1.3

11.3
.6
.3
.7
1.5
1.6
1.4

11.1
.6
.3
.7
1.4
1.6
1.4

10.6
.6
.3
.6
1.3
1.5
1.5

10.6
.5
.3
.6
1.3
1.4
1.6

10.2
.5
.3
.5
1.0
1.3
1.6

10.1
.6
.3
.6
.8
1.3
1.5

10.9
.6
.3
.6
.9
1.4
1.7

Gross domestic product

.3
1.7
.2

1.6
.3
1.9
.1
.3
1.5

Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Machinery, except electrical
Industrial machinery and equipment
Electric and electronic equipment
Electronic and other electric equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries

.1

4.9

4.7

4.7

4.5

4.4

18.9

18.4

19.3

19.3

19.6

19.3

10.8
.6
.3
.6
.8
1.3
1.7

10.6
.6
.3
.6
.9
1.3
1.7

11.1
.7
.3
.5
.8
1.3
1.9

11.1
.7
.3
.5
.8
1.3

11.4
.6
.3
.5
.7
1.3

11.2
.6
.3
.5
.7
1.3

2.1

1.3
1.2
1.1
.4

1.2
1.3
1.0
.4

1.9

1.6
2.0
1.1
.7
.4

1.9
1.0
.6
.3

'9.0
1.8
.7
.5
.6
.9
1.5
1.9
.6
.5
.2

8.6
1.8
.7
.5
.6
.9
1.4
1.9
.4
.5
.1

8.7
1.8
.7
.5
.6
.9
1.5
1.8
.5
.5
.1

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
Communications
Telephone and telegraph
Radio and television
Electric, gas, and sanitary services

9.2
3.4
.5
.3

9.0

Wholesale trade

5.0

9.3

9.0
3.4
.5
.3
1.5
.3
.6
.1
.2
2.2
1.9
.4
3.4
5.2
9.4

3.4
.5
.3
1.4
.3
.6
.2
.2
2.3
2.0
.4
3.3
5.3
9.0

17.4
2.7

17.5
2.7

18.0
2.8

1.2
.9
.7
.3

1.1
1.2
.7
.3

1.2
1.1
.7
.3

1.4
1.1
.7
.4

1.5
1.1
.6
.3

1.3
1.2
.6
.3

1.3
1.3
.6
.3

8.1
1.8
.6
.5
.6
.8
1.4
1.6
.4
.5
.1

8.3
1.8
.7
.5
.5
.8
1.4
1.6
.5
.5
.1

8.4
2.0
.5
.4
.5
.8
1.4
1.7
.5
.5
.1

8.5
1.9
.4
.5
.5
.9
1.4
1.7
.6
.6
.1

8.1
1.8
.4
.4
.5
.8
1.4
1.6
.5
.6
.1

8.0
1.8
.3
.4
.5
.8
1.4
1.6
.6
.6
.1

7.8
1.7
.3
.4
.5
.8
1.3
1.7
.4
.6
.1

8.3
1.7
.3
.4
.5
.9
1.3
1.8
.6
.6
.1

8.3
1.7
.3
.4
.5
.8
1.3
1.8
.6
.7
.1

8.2
1.7
.3
.4
.5
.8
1.3
1.8
.6
.6
.1

8.0
1.6
.2
.4
.5
.8
1.3
1.7
.6
.7
.1

9.1
3.2
.5
.2
1.4
.3
.5
.1
.2
2.5
2.2
.4
3.3
5.1
8.6

8.9

9.1
3.3
.4
.2
1.3
.2
.7
.2
.3
2.8
2.4
.4
3.0

9.1
3.3
.5
.2
1.4
.2
.6
.1
.3
2.8
2.5
.4
3.0

9.2
3.4
.5
.2
1.3
.2
.8
.1
.3
2.8
2.5
.3

6.3
9.6

2.9
7.0
10.3

3.1
6.7
9.7

18.5
2.9

19.0
3.0

18.8

18.4
2.8

18.2
2.7

17.7
2.7

17.8
2.6

9.2
3.4
.5
.2
1.3
.2
.8
.1
.3
2.8
2.4
.4
3.1
6.7
9.7
17.8

9.1
3.2
.5
.2
1.2
.2
.7
.1
.3
2.9
2.5
.4
3.1
6.6
9.9
18.0

9.2

5.8

8.9
3.2
.5
.2
1.4
.2
.6
.1
.3
2.7
2.4
.3
3.0
6.4
9.9

8.8
3.2
.4
.2
1.4
.2
.7
.1
.3
2.7
2.4
.3

8.7

8.9
3.1
.4
.2
1.2
.2
.6
.2
.2
2.7
2.3
.4
3.1
5.8
9.0

3.2
.5
.2
1.3
.2
.7
.1
.3
2.8
2.4
.4
3.2
6.8
10.0
18.0

3.0

2.9

2.8

.4
.8
1.1
.7
11.5
8.3
3.2
.4

.4
.8
1.3
.7
11.6
8.2
3.5
.4

.4
.9
1.4
.6

17.2

17.2
.9
.7
3.2
.8
.3
.3
.6
4.9
1.4
.7

1.7
1.1
.7
.3

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 plastics products
Leather and leather products

1.5
.3
.5
.2
.2
2.1
1.8
.4
3.6

Retail trade
Finance, insurance, and real estate
Banking
Depository institutions
Credit agencies other than banks
Nondepository institutions
Security and commodity brokers
Insurance carriers
Insurance agents, brokers, and service
Real estate
Nonfarm housing services
Other real estate
Holding and other investment offices

.4
1.6
.6

.4
1.6

11.3
8.1
3.3
.3

15.7

Services
Hotels and other lodging places
Personal services
Business services
Auto repair, services, and parking
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
Legal services
Educational services
Social services and membership organizations
Miscellaneous professional services
Other services
Private households

1.0
.8
2.3
.8
.3
.2
.5
5.1
1.3
.7
1.0
1.3

18.7

2.9

11.4
8.1
3.3
.3

.4
1.6
.6
11.8
8.2
3.6
.3

.5
1.6
.6
12.2
8.8
3.4
.3

15.9
1.0
.8
2.5
.9
.3
.3
.5
5.1
1.4
.7
1.0
1.3

16.0
.9
.8
2.6
.9
.3
.3
.5
5.1
1.4
.7
1.0
1.4

16.4
.8
.7
2.8
.9
.4
.2
.5
5.3
1.4
.7
1.0
1.5

.6

3.1
.5
.2
1.2
.3
.5
.2
.2
2.6
2.2
.4
3.2
5.4

.5
1.5
.6
12.1
8.9
3.2
.3

16.4
.8
.7
2.9
.8
.3
.2
.5
5.3
1.4
.7
1.0
1.5

9.4

2.9

.5
1.4
.7
12.4
9.2
3.2
.3

.6
1.4
.7
12.2
8.9
3.4
.3

.5
1.4
.7

.6
1.4

12.1
8.6
3.5
.3

16.8
.8
.7
3.0
.8
.3
.3
.6
5.5
1.4
.7
1.0
1.5

16.7
.9
.7
3.1
.8
.3
.3
.6
5.4
1.3
.7
1.0
1.5

16.6
.9
.7
3.3
.8
.3
.3
.6
5.1
1.3
.7
1.0
1.5

17.3
.9
.7
3.8
.8
.3
.3
.6
5.0
1.3
.7
1.0
1.5

.9
.7
3.1
.8
.3
.3
.6
5.0
1.3
.7
1.0

17.5
.9
.7
3.4
.8
.3
.3
.6
4.8

1.4
.7

1.1

1.1

2.2
.2

2.3
.2

.2

.2
12.0

12.0

11.8

11.7

4.4
3.5
.8

4.3
3.5
.8

4.2
3.4
.8

4.1
3.3
.7

4.1
3.3
.7

4.0
3.3
.7

3.9
3.2
.7

8.6
7.8
.8

8.1
7.4
.7

8.1
7.3
.7

8.0
7.3
.7

7.9
7.2
.7

7.9
7.2
.7

7.8
7.1
.7

7.8

-.1
-.2
.4
-.3

.4
.3
.5
-.4

.2
-.2
.5
-.1

-.2
-.3
.2
-.1

0
-.1
0

-.5
-.5
0

-.5
-.5
0

3,736.3
'693.9

3,881.6
722.9

4,140.4
786.2

4,276.6
807.2

4,399.2
811.6

4,539.9
878.4

4,539.9
877.8

13.6

Federal
General government
Government enterprises

5.0
4.0
1.0

4.9
3.8
1.1

4.8
3.8
1.1

8.9

8.1
.7

8.6
7.9
.7

8.1
.8

4.7
3.7
1.0
8.7
8.0
.8

4.7
3.8
.9

State and local
General government
Government enterprises

4.7
3.7
1.0
8.7
8.0
.8

.2
13.2
4.6
3.7
.9

8.9
8.1
.8

'-.6
.6
.6
-1.8

.1
.3
.9
-1.1

.5
.6
1.1

-1.2

.8
.5
1.2
-.9

1.4
.4
1.2
-.2

3,427.6
'691.3

3,604.7
717.7

3,709.1
733.5

3,709.1
693.1

3,809.0
721.2

.2

' Revised: Percentages previously shown in table 2 (page 35) and approximations in exhibit 2 (page 37) of the
May 1993 SURVEY.
* See table 2.
1. Percentages for 1977-87 are calculated using constant-dollar approximations of benchmark-years-weighted indexes of GDP as the denominators. For manufacturing, the numerators are constant-dollar approximations of the
corresponding benchmark-years-weighted indexes of gross product originating (GPO). Constant-dollar approximations
are calculated by extrapolating 1987 current-dollar levels shown in table 9 (page 51) of the May 1993 SURVEY with
the corresponding benchmark-years-weighted indexes. The approximations for GDP and for total manufacturing GPO
are shown in the addenda to this table. For 1977-87 for all other industries, for the statistical discrepancy, and

17.1
.9
.7
3.7
.9
.3
.3
.6
4.9
1.4
.7
1.0
1.6

12.2

13.4

91

16.9
.9
.7
3.5
.9
.3
.3
.6
5.0
1.3
.7
1.0
1.5

11.6
8.1
3.5
.4

.2

13.7

Percentage not allocated by industry
Statistical discrepancy2
Residual3
Other 4

11.5
8.3
3.2
.4

.6

12.3

13.4

8.9

11.8
8.5
3.3
.3

12.5

13.5

.3

.8
1.1
.7

1.3
.6
11.4
8.3
3.1
.4

2.2
.2

13.9

Government




.1
.3
1.2
.2

1.4
.2
4.8

2.1

Manufacturing

Addenda:
Constant-dollar approximations of benchmark-years-weighted
indexes (billions of 1987 dollars):
Gross domestic product
Manufacturing

.1
.3

_

• *

7.1
.7
-.4
0
-.4

4,718.6
924.6

4,838.0
932.4

4,877.5

for the residual, the numerators are the 1987-dollar estimates shown in table 12 (page 54) of the May 1993 SURVEY.
Percentages for 1988-90 for all industries are calculated using the 1987-dollar estimates shown in table 12.
2. See footnote 2 of table 12 (page 54) of the May 1993 SURVEY.
3. See footnote 3 of table 12 (page 54) of the May 1993 SURVEY.
4. Equals the differences between the sum of the industry detail, the statistical discrepancy, the residual, and
100.0 that results from the use of the constant-dollar approximations for GDP and manufacturing GPO and of 1987dollar levels for nonmanufacturing industries for 1977-86.

SURVEY OF CURRENT BUSINESS

34

July 1993

Personal Income by State and Region,
First Quarter 1993
) ERSONAL INCOME in the Nation declined 1.6
x percent in the first quarter of 1993 after increasing 3.5 percent in the fourth quarter of 1992.
These changes were affected by the payment in
the fourth quarter of 1992 of yearend bonuses
that typically would have been paid in the first
quarter. Excluding the effect of these early payments, personal income in the Nation would have
increased 1.5 percent in the first quarter after
increasing 1.9 percent in the fourth.1
In the first quarter, personal income declined
in 42 States and increased in 8 States; the 8 States

The first part of
this article was
written by Howard
L. Friedenberg and
Duke D. Tran. The
estimates of State
personal income,
as well as the
section on the
revisions, were
prepared by the
Regional Economic
Measurement
Division.

1. These percent changes are not at annual rates.

with increases were Iowa, Alaska, Nebraska, Mississippi, South Dakota, Arkansas, New Mexico,
and Louisiana. Excluding the effect of the early
bonus payments, personal income would have
increased in all States except North Dakota,
Montana, and New Jersey.
The remainder of this article looks at the
growth in State personal income during the
current recovery and then briefly describes the
revisions to the State personal income estimates
for 1992. Tables 1 and 2 at the end of the article
contain the quarterly estimates of total and nonfarm State personal income beginning with the
first quarter of 1990.

Total Personal Income: Average Annual Percent Change, 1991 :l-1993:1

UNITED STATES 4.6%

\

11 fastest growing States
•
-ft ^

3.8

Hawa

\,

••<;>.

^

X

"

p

U.S. Department of Commerce, Bureau of Economic Analysis




11 slowest growing States
All other States

SURVEY OF CURRENT BUSINESS

Personal Income Growth During the
Current Recovery

July 1993 • 35

Fastest growing States
During the recovery, increases in personal income in the 11 fastest growing States ranged
from 8.4 percent in North Dakota to 6.1 percent in Arkansas and Washington (table A and
chart 1). These 11 States accounted for more than
10 percent of personal income in the Nation.
In North Dakota, Nebraska, and Iowa, personal income growth was substantially boosted
by rapid growth in farm income. In addition,
increases in payrolls were above average in nondurables manufacturing, in construction, and in
wholesale trade.
In Idaho, Kentucky, South Dakota, North
Carolina, Mississippi, and Arkansas, changes in
payrolls were above average in both durables and
nondurables manufacturing and in construction.
In addition, in all these States, increases in payrolls were above average in all private service-type
industries except for the transportation-public
utilities group in Mississippi.3 In Kentucky
and North Carolina, military payrolls rebounded
strongly from low levels in the first quarter of 1991
that had reflected the effect of Operation Desert
Storm. (The compensation of military personnel

In the first eight quarters of recovery following
the business cycle trough in the first quarter of
1991, personal income in the Nation increased
at an annual rate of 4.6 percent. By comparison, personal income increased at an average
annual rate of 9.8 percent in the first eight quarters of the three previous recoveries that lasted
at least as long as the current one.2 From the
first quarter of 1991 to the first quarter of 1993,
the 4.6-percent annual increase in personal income exceeded the 3.2-percent annual increase
in U.S. prices (measured by the fixed-weighted
price index for personal consumption expenditures). By State, the annual increase in personal
income exceeded 3.2 percent in all States except
Connecticut.
The following discussion focuses on the 11
States with the fastest growth in personal income
and on the 11 States with the slowest growth. The
rankings of all States except New York were affected little by the early bonus payments; New
York was shifted from the average growing group
to the slowest growing group.

3. Private service-type industries consist of wholesale trade, retail trade,
the finance-insurance-real estate group, the transportation-public utilities
group, and services.

2. For the three recoveries, the increases were 8.6 percent in 1982:1V1984:1V, 10.6 percent in 1975:1-1977:1, and 10.2 percent in I97o:iv-i972:iv.

Table A.—Average Annual Percent Change in Personal Income for Selected States and the United States,
1991:1-1993:1
Wage and salary disbursements (payrolls)

Persona income
Rank
Total

Farm

5
6
7
8
9
10
11

Fastest growing States:
North Dakota
Nebraska
Idaho
Iowa
Kentucky
Utah
South Dakota
North Carolina
Mississippi
Arkansas
Washington

8.4
8.2
7.6
70
6.4
6.4
63
6.3
6.3
6.1
6.1

79.4
53.2
.7
41 0
12.1
21.1
73
6.6
21.8
10.1
10.7

United States

4.6

22.1

40
41
42
43
44
45
46
47
48
49
50

Slowest growing States:
Maine
New Jersey
Virginia
Florida
Hawaii
Maryland
New York
Delaware
Massachusetts
California
Connecticut

40
3.9
3.9
3.8
38
3.6
3.6
3.6
35
3.3
2.5

21.9
2.8
14.8
-6.0
1 3
21.8
7.1
17.0
-4.1
14.0
-5.3

1
CM CO "**




Transportation
and
public
utilities

Finance,
insurance,
Services
and real
estate

Durables
manufacturing

Nondurables
manufacturing

Construction

10.8
-.1
11.5
-3
4.5
-1.4
135
5.2
5.7
4.5
1.9

10.6
2.6
7.0
33
3.5
-3.7
6.7
5.4
4.3
4.6
.8

10.4
4.3
10.8
62
8.4
13.0
7.0
.6
3.7
.4
4.4

-6.5
-7.3
14.1
8.2
-9.5
-1.5
2.0
17.1
-8.2
-9.0
-5.9

2.6
6.1
6.1
2.6
7.4
4.2
5.8
4.5
2.6
3.9
4.2

6.0
6.8
4.1
4.4
3.2
3.5
3.2
4.2
4.4
5.2
5.0

5.8
3.0
6.6
46
5.8
9.9
6.1
5.0
5.7
8.1
5.5

4.2
2.6
6.7
1.1
1.9
1.1
4.0
1.8
2.3
5.7
1.6

7.3
6.0
8.9
8.0
9.7
12.3
10.2
9.5
8.6
9.9
10.9

2.0
2.1
7.7
4.1
8.6
4.1
2.5
9.3
3.2
5.1
5.7

.3

2.3

-1.3

-4.5

3.6

3.1

3.2

1.1

6.9

4.1

-5.8
-5.4
-1.0
-.2
-6.9
-3.3
.4
12.4
-3.5
-5.5
-1.7

.1
2.4
1.9
.1
3.0
2.4
-1.9
-1.3
1.1
.1
-1.4

1.4
5.7
3.8
3.2
2.4
-6.8
-7.5
-1.1
-5.5
-11.3
-5.9

-19.6
-9.3
-7.6
-23.5
39.4
-16.5
-2.5
17.1
-2.5
-6.6
11.4

2.6
2.9
3.2
2.3
6.2
2.2
1.7
4.6
2.9
3.7
-.8

-2.8
4.1
1.6
4.3
-.1
1.0
1.6
-1.2
.8
3.5
-.9

5.2
1.0
1.7
3.5
3.0
.6
0
4.0
2.0
1.4
-1.9

-5.7
.9
.6
.3
-.4
1.4
2.9
.1
-2.5
-.1
-7.5

5.2
5.8
8.1
7.1
4.2
5.9
4.6
5.1
5.6
5.9
6.7

.5
6.4
2.3
3.0
3.3
2.8
2.9
2.0
.7
2.2
3.1

Mining

Wholesale
trade

Retail
trade

Government

SURVEY OF CURRENT BUSINESS

36 • July 1993

who are assigned abroad is excluded from State
personal income.)
In Washington and Utah, increases in payrolls
were above average or average in construction,
in the private service-type industries, and in
government.
In two of the fastest growing States, changes
in payrolls were weak in a few major industries:

In Idaho, the increase in farm income was weak,
and in Utah, payrolls in manufacturing declined.
Slowest growing States
During the recovery, increases in personal income in the 11 slowest growing States ranged
from 2.5 percent in Connecticut to 4.0 percent in

Table B.—Revisions in 1992 Total Personal Income for States and Regions
[Millions of dollars, quarters seasonally adjusted at annual rates]
Previously published

1992

1992

1992

1992

1992

5,061,045 4,977,383 5,030,749 5,067,261 5,168,784 5,095,984 4,986,708 5,045,477 5,086,621 5,265,128

34,939

9,325

14,728

19,360

96,344

325,124
92,534
23,215
150,254
26,763
21,179
11,180

2,691
833
140
1,263
230
145
80

726
116
57
406
66
59
21

1,028
218
105
522
87
68
28

1,346
410
84
623
123
53
54

7,663
2,589
316
3,500
645
400
215

1,018,786 1,004,323 1,012,101 1,020,982 1,037,737 1,027,574 1,006,180 1,015,143 1,024,994 1,063,981
14,699
14,759
15,179
14,801
14,775
14,784
14,488
14,705
15,237
14,500
15,421
15,588
15,730
15,555
15,634
15,776
15,516
15,352
15,457
15,324
112,768 111,200 112,209 113,084 114,579 113,481 111,458 112,602 113,527 116,337
206,078 203,365 205,027 206,367 209,553 208,238 203,783 205,725 207,346 216,096
426,418 420,762 422,798 427,003 435,110 430,446 421,403 423,876 428,411 448,094
243,222 239,171 241,948 244,181 247,586 245,054 239,696 242,777 245,301 252,441

United States

8,788
17
39
713
2,160
4,028
1,832

1,857
-12
28
258
418
641
525

3,042
6
36
393
698
1,078
829

4,012
16
46
443
979
1,408
1,120

26,244
58
46
1,758
6,543
12,984
4,855

311,957
88,518
22,516
144,315
25,475
20,402
10,731

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

836,509

Plains
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota

341,065

Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia

Revision

Revised

1992

State and region

251,331
102,155
184,089
205,175
93,759

51,432
48,877
89,820
97,802
30,641
10,718
11,775

.

1,078,893
67,079
37,035
261,625
122,405
62,082
67,359
36,831
120,889
57,612
87,119
131,557
27,301

Southwest
Arizona
New Mexico
Oklahoma
Texas

457,804

Rocky Mountain
Colorado
Idaho
Montana
Utah
Wyoming

136,121

Far West
Alaska
California
Hawaii
Nevada
Oregon
Washington

879,911
12,678
656,775
24,605
26,901
54,194
104,757

65,606
24,277
52,031
315,890

17,147
13,230
27,785
8,122

307,270
87,398
22,101
142,349
24,950
19,975
10,497

310,419
88,102
22,378
143,714
25,272
20,291
10,663

312,677
22,685
144,443
25,559
20,563
10,799

317,461
89,945
22,899
146,754
26,118
20,779
10,965

314,648
89,351
22,656
145,578
25,705
20,547
10,811

307,996
87,514
22,158
142,755
25,016
20,034
10,518

311,447
88,320
22,483
144,236
25,359
20,359
10,691

314,023
89,038
22,769
145,066
25,682
20,616
10,853

821,354
247,213
100,063
180,611
201,601
91,866

833,334
250,136
101,392
184,103
204,517
93,184

837,382
251,329
102,657
183,763
205,502
94,130

853,965
256,645
104,509
187,878
209,077
95,856

841,544
252,922
102,857
185,440
205,759
94,566

822,797
247,561
100,230
180,789
202,114
92,104

834,972
250,447
101,684
184,648
204,678
93,515

839,908
252,405
103,111
184,307
205,515
94,570

868,497
261,274
106,405
192,015
210,728
98,076

5,C35
1,591
702
1,351
584
807

1,443
348
167
178
513
238

1,638
311
292
545
161
331

2,526
1,076
454
544
13
440

14,532
4.629
1,896
4,137
1,651
2,220

335,813
51,167
47,892
88,367
96,270
30,294
10,275
11,547

337,804
50,816
48,668
88,625
97,246
30,318
10,504
11,627

339,385
51,174
48,401
89,835
97,737
30,193
10,443
11,602

351,257
52,571
50,546
92,454
99,956
31,757
11,649
12,324

343,459
51,800
49,216
90,555
98,435
30,843
10,770
11,840

336,478
51,281
48,018
88,556
96,370
30,367
10,301
11,585

338,964
51,002
48,837
88,902
97,580
30,432
10,535
11,675

340,878
51,366
48,616
90,287
98,115
30,357
10,485
11,650

357,516

2,394
368
339
735
633
202
52
65

665
114
126
189
100
73
26
38

1,160
186
169
277
334
114
31
48

1,493
192
215
452
378
164
42
48

6,259
978
848
2,019
1,717
459
110
127

1,061,050 1,072,239
66,464
65,939
36,995
36,374
258,620 260.272
120,032 121,451
61,593
60,857
67,433
66,592
36,551
36,205
118,268 119,772
57,194
56,509
86,717
85,372
129,457 130,619
27,178
26,825

1,079,451
67,302
36,970
260,254
122,737
62,211
66,965
36,776
121,471
57,820
87,317

1,102,831 1,086,524 1,063,138
67,472
68,611
66,064
37,382
37,800
36,520
267,354 263,818 259,010
125,400 123,281 120,288
62,465
63,667
60,956
67,664
68,445
66,693
36,976
37,793
36,286
124,043 121,741 118,554
57,892
56,627
58,924
87,963
85,569
89,070
133,959 132,417 129,700
132,193
27,452
27,767
26,872
27,435

1,075,884

1,083,983

1,123,090

66,640
37,149

67,547
37,135

69,639
38,726

261,008
121,964
61,810
67,594
36,663
120,182
57,371
87,092
131,161
27,247

261,336
123,226
62,496
67,147
36,905
122,165
58,045
87,695
132,770
27,515

273,918
127,644
64,598
69,224
38,050
126,063
59,526
91,494
136,036
28,172

7,631
393
347
2,193
876
383
305
145
852
280
844
860
151

2,088
125
146
390
256
99
101
81
286
118
197
243
47

3,645
176
154
736
513
217
161
112
410
177
375
542
69

4,532
245
165
1,082
489
285
182
129
694
225
378
577

20,259
1,028
926
6,564
2,244

449,288
64,349
23,718
51,307
309,914

455,530
65,306
24,067
51,909
314,249

458,983
65,852
24,421
51,991
316,719

467,414
66,916
24,903
52,916
322,679

461,598
66,115
24,384
52,369
318,729

450,113
64,527
23,790
51,433
310,364

457,028
65,531
24,197
52,075
315,225

460,637
66,110
24,550
52,202
317,776

478,613
68,294
25,001
53,766
331,552

3,794
509
107
338

825
178
72
126
450

1,498
225
130
166
976

1,654
258
129
211
1,057

11,199
1,378
98
850
8,873

132,836
68,209
16,614
12,835
27,179
7,999

134,799
69,201
16,954
13,061
27,480
8,103

136,297
70,100
17,108
13,050
27,957

140,550

136,876
70,273
17,235
13,245
27,984
8,138

133,133
68,359
16,665
12,873
27,237
8,000

135,307
69,490
17,030
13,100
27,585
8,102

136,879
70,435
17,191
13,069
28,102
8,081

142,185
72,809
18,053
13,941
29,012
8,371

755
437
88
15
199
16

297
150
51
38
58
1

508
289
76
39
105
-1

582
335
83
19
145
0

1,635

71,833
17,913
13,974
28,524
8,305

865,449

874,522
12,617
653,108
24,984
26,589
53,657
103,567

882,105
12,641
659,773
23,304
27,036
54,508
104,844

897,568
12,874
668,094
25,342
27,560
55,539
108,158

883,762
12,731
659,271
24,754
27,197
54.441
105,368

866,872
12,609
647,006
24,844
26,505
53,187
102,721

876,733
12,643
654,571
25,080
26,717
53,780
103,942

885,320
12,681
662,033
23,409
27,201
54,762
105,235

906,122
12,992
673,473
25,681
28,364
56,036
109,576

3,851
53
2,496
149
296
247
611

1,423
29
879
55
84
114
262

2,211
26
1,463
96
128
123
375

3,215
40
2,260
105
165
254
391

8,554
118

314,023
881,058
839,908
340,878
868,993
254,643
474,260
254,739
858,119

325,124
916,631
868,497
357,516
898,709
263,781
493,268
263,843
877,758

2,691
8,019
5,035
2,394
5,981
1,765
3,831
1,667
3,555

726
1,584
1,443
665
1,612
503
821
630
1,339

1,028
2,606
1,638
1,160
2,883
881
1,457
993
2,083

1,346
3,507
2,526
1,493
3,652
1,037
1,516
1,133
3,050

7,663
24,381
14,532

12,580
646,127
24,789
26,421
53,073
102,459

53,549
51,394
94,473
101,673
32,216
11,759
12,451

931

779
257
2,020
602
2,424
2,077
405

976
140
-33
488
66

5,379
339
804
497
1,418

Census Divisions

New England
Middle Atlantic
East North Central.
West North Central
South Atlantic
East South Central
West South Central
Mountain
Pacific




311,957
875,718
836,509
341,065
864,456
253,111
472,314
252,905
853,010

307,270
863,299
821,354
335,813
850,736
248,373
464,188
247,324
839,028

310,419
869,772
833,334
337,804
858,816
251,325
470,586
250,760
847,933

312,677
877,551
837.382
339,385
865,341
253,606
472,644
253,606
855,069

317,461
892,250
853,965
351,257
882,934
259,140
481,840
259,930
870,008

314,648
883,737
841,544
343,459
870,437
254,876
476,145
254,572
856,565

307,996
864,883
822,797
336,478
852,348
248,876
465,009
247,954
840,367

311,447
872,378
834,972
338,964
861,699
252,206
472,043
251,753
850,016

6,259
15,775
4,641
11,428
3,913
7,750

SURVEY OF CURRENT BUSINESS

The estimates of total personal income and nonfarm
personal income for the first quarter 1992 through the
first quarter 1993 presented in this article differ from
those issued in the news release on July 22, 1993. The
changes reflect the correction of errors in proprietors'
income for the construction industry and in personal
contributions for social insurance.

Maine. These 11 States accounted for more than
40 percent of personal income in the Nation.
In Virginia, Maryland, Massachusetts, California, and Connecticut, personal income growth
was dampened by declines in payrolls in construction and in durables manufacturing. The
declines in construction payrolls were larger than
the decline of 1.3 percent in the Nation; the State
declines partly reflected the lingering effects of
the overbuilding of commercial and residential
structures during the boom years of the 1980's.
The declines in manufacturing payrolls partly reflected the cumulative effects of cutbacks in U.S.
defense spending. In addition, all of these States
had below-average changes in payrolls in retail
trade and in government.
In Maine, Florida, and Hawaii, payrolls declined in durables manufacturing, and payroll changes were below average in the
finance-insurance-real estate group and in
government.
In New Jersey, New York, and Delaware, payrolls declined in construction, and increases in
payrolls were below average in services. Additionally, nondurables manufacturing payrolls declined in New York and Delaware, and durables
manufacturing payrolls declined in New Jersey.




In three of the slowest growing States, payroll increases were well above average in a few
major industries: Increases were strong in government in New Jersey, in the transportationpublic utilities group in Hawaii, and in durables
manufacturing in Delaware.

Revisions to the State
Personal Income Estimates
As is usual in July, the annual and quarterly estimates of State personal income for the preceding
year have been revised to incorporate newly available data for the fourth quarter from the Bureau
of Labor Statistics (BLS). For the fourth quarter of 1992, the BLS tabulations of wages and
salaries of employees covered by State unemployment insurance showed unusually strong growth,
largely reflecting the early payment of yearend
bonuses. As a result, the U.S. total of State personal income estimates for 1992 has been revised
up $34.9 billion from the $5,061.0 billion published in the April 1993 SURVEY OF CURRENT
BUSINESS (table B).
As explained in the note on page 28, incorporating the new fourth-quarter data raised the
U.S. total of State personal income for all four
quarters of 1992. The largest revision, $96.3 billion (annual rate), was to the fourth quarter and
mainly reflected the early bonus payments.
For each State, the annual estimate of total personal income has also been revised upward; the
largest revisions were to New York, Texas, California, Florida, and New Jersey. All the States
except Delaware, Montana, and Wyoming had
upward revisions in each quarter.
Tables 1 and 2 follow. 61

July 1993 •

37

38 • July 1993

SURVEY OF CURRENT BUSINESS
Table 1.—Total Personal Income, States and Regions
[Millions of dollars, seasonally adjusted at annual rates]
1990

1991

1992

1993

Percent change
Av. Annual

I

United States l

II

III

IV

I

II

III

IV

\r

IIr

III'

IV

Quarterly

1991:11993:1

State and region

1992:1V1993:1

\P

4,559,046

4,625,208

4,675,249

4,735,964

4,734,502

4,789,466

4,832,176

4,899,444

4,986,708

5,045,477

5,086,621

5,265,128

5,181,983

4.6

-1.6

New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont

288,974
82,333
20,747
134,296
23,104
18,632
9,863

292,270
83,528
21,076
135,520
23,374
18,841
9,932

295,242
84,639
21,307
136,743
23,547
18,988
10,017

295,851
85,455
21,207
136,627
23,558
18,992
10,011

294,906
84,254
21,312
136,615
23,661
19,049
10,016

297,332
85,185
21,353
137,649
23,894
19,147
10,105

299,510
85,583
21,641
138,423
24,193
19,411
10,259

302,967
86,608
21,820
140,012
24,617
19,589
10,323

307,996
87,514
22,158
142,755
25,016
20,034
10,518

311,447
88,320
22,483
144,236
25,359
20,359
10,691

314,023
89,038
22,769
145,066
25,682
20,616
10,853

325,124
92,534
23,215
150,254
26,763
21,179
11,180

315,885
88,562
23,069
146,229
26,279
20,693
11,052

3.5
2.5
4.0
3.5
5.4
4.2
5.0

-2.8
-4.3

Mideast
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania

928,551
13,592
14,120
103,295
189,526
390,364
217,654

942,322
13,800
14,239
104,861
192,468
395,333
221,622

954,464
14,008
14,469
106,205
194.661
400,205
224,916

961,135
14,028
14,635
106,584
196,168
403,141
226,579

956,887
14,131
14,608
107,008
193,217
400,711
227,214

968,068
14,146
14,771
108,003
195,734
405,840
229,575

976,470
14,248
14,915
108,720
197,791
408,960
231,837

988,925
14,415
15,031
109,721
200,025
414,575
235,158

1,006,180
14,488
15,352
111,458
203,783
421,403
239,696

1,015,143
14,705
15,457
112,602
205,725
423,876
242,777

1,024,994
14,775
15,634
113,527
207,346
428,411
245,301

1,063,981
15,237
15,776
116,337
216,096
448,094
252,441

1,033,252
15,171
15,820
114,917
208,746
430,269
248,329

3.9
3.6
4.1
3.6
3.9
3.6
4.5

-2.9

Great Lakes
Illinois
Indiana
Michigan
Ohio
Wisconsin

756,318
228,742
92.137
167,492
185,135
82,812

767,862
231,296
92,582
169,968
189,144
84,873

775,658
233,121
94,014
171,951
190,320
86,251

785,057
237,286
94,805
172,265
192,110
88,591

781,282
235,714
94,955
171,651
192,042
86,922

789,041
238,504
95,792
174,025
192,367
88,354

796,914
240,260
96,751
175,343
195,181
89,379

808,065
242,789
98,308
178,464
197,962
90,542

822,797
247,561
100,230
180,789
202,114
92,104

834,972
250,447
101,684
184,648
204,678
93,515

839,908
252,405
103,111
184,307
205,515
94,570

868,497
261,274
106,405
192,015
210,728
98,076

859,626
257,581
105,625
190,033
210,426
95,962

4.9
4.5
5.5
5.2
4.7
5.1

-1.0
-1.4

Plains
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota

306,562
47,678
43,119
80,866
87,517
27,339
9,281
10,762

307,680
46,301
43,612
81,946
88,508
27,168
9,414
10,729

306,739
45,863
43,630
81,899
89,084
26,954
8,854
10,456

317,742
47.528
45,925
83,457
90.636
27,748
11,050
11,397

315,107
48,129
44,458
83,213
91,038
27,786
9,424
11,058

319,508
48,034
45,585
84,312
91,900
28,401
9,923
11,354

319,925
47,665
45,433
84,970
92,905
28,385
9,499
11,067

329,495
49,068
47,222
86,661
95,090
28,742
10,891
11,820

336,478
51,281
48,018
88,556
96,370
30,367
10,301
11,585

338,964
51,002
48,837
88,902
97,580
30,432
10,535
11,675

340,878
51,366
48,616
90,287
98,115
30,357
10,485
11,650

357,516
53,549
51,394
94,473
101,673
32,216
11,759
12,451

354,969
55,101
49,973
92,827
100,961
32.527
11,078
12,502

6.1
7.0
6.0
5.6
5.3
8.2
8.4
6.3

Southeast
Alabama
Arkansas
Florida2
Georgia
Kentucky
Louisiana2
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia

963,066
58,815
32,800
238,115
108,565
54,197
59,024
32,148
107,600
51,398
76,044
120,267
24.093

976,311
60,118
33,016
241,620
110,233
54,732
59,758
32,528
108,919
52,494
76,864
121,639
24,391

987,737
60,668
32,915
244,307
111,988
55,590
60,471
32,774
109,827
53,083
78,186
123,218
24,711

997,098
61,524
33,404
246,769
112,544
56,631
61,629
33,317
109,649
53,526
79,127
123.917
25,059

1,007,697
62,443
34,501
249,043
113,386
56,463
62,822
33.992
110,939
54,134
79,975
124,621
25,378

1,018,081
63,062
34,798
251,224
114,853
57,323
63,553
34,311
112,396
54,449
80,953
125,500
25,659

1,028,062
63,840
34,375
252,410
116,287
58,561
64,271
34,575
114,619
55,004
81,883
126.344
25,893

1,041,641
64,693
35,281
254,801
117,701
59,712
65,493
35,276
115,979
55,601
83,683
127.120
26,302

1,063,138
66,064
36,520
259,010
120,288
60,956
66,693
36,286
118,554
56,627
85,569
129,700
26,872

1,075,884
66,640
37,149
261,008
121,964
61,810
67,594
36,663
120,182
57,371
87,092
131,161
27,247

1,083,983
67,547
37,135
261,336
123,226
62,496
67,147
36,905
122,165
58,045
87.695
132,770
27,515

1,123,090
69,639
38,726
273.918
127,644
64,598
69,224
38,050
126,063
59,526
91.494
136,036
28,172

1,110,420
68,602
38,865
268,520
126,012
63,940
69,430
38,380
125,394
58,850
89,814
134,481
28,131

5.0
4.8
6.1
3.8
5.4
6.4
5.1
6.3
6.3
4.3

Southwest
Arizona
New Mexico
Oklahoma
Texas

402,176
58,328
20,945
46,651
276,252

409,012
59,122
21,226
47,257
281,407

414,588
59,962
21,620
47,767
285,239

421,329
60,686
22,057
49,002
289,584

425,112
61,275
22,305
48,589
292,942

431,493
61,932
22,675
49,338
297,549

434,860
62,322
22,940
49,302
300,296

443,081
63,249
23,207
50,511
306,114

450,113
64,527
23,790
51,433
310,364

457,028
65,531
24,197
52,075
315,225

460,637
66,110
24,550
52,202
317,776

478,613
68,294
25,001
53,766
331,552

473,809
67,165
25,078
53,557
328,010

5.6
4.7
6.0
5.0
5.8

Rocky Mountain
Colorado
Idaho
Montana
Utah
Wyoming

117,588
60,517
14,899
11,439
23,495
7,238

119,914
61,565
15,267
11,522
24,029
7,431

121,011
62,367
15,265
11.372
24,551
7,456

124,854
63,818
15,806
12,547
25,021
7,662

124,569
64,076
15,460
12,094
25,279
7,660

126,991
65,074
15,896
12,515
25,746
7,760

128,058
65,682
15,992
12,524
26,058
7,802

131,822
67,204
16,553
13,610
26,489
7,967

133,133
68,359
16,665
12,873
27,237
8,000

135,307
69,490
17,030
13,100
27,585
8,102

136,879
70,435
17,191
13,069
28,102
8,081

142,185
72,809
18,053
13,941
29,012
8,371

140,203
71,915
17,889
13,470
28,601
8,327

6.1
5.9
7.6
5.5
6.4
4.3

-1.4
-1.2

Far West
Alaska
California
Hawaii 2
Nevada
Oregon
Washington

795,810
11,228
602,794
21,817
23,252
47 421
89,298

809,936
11,466
612,456
22,543
23,822
48 464
91,185

819,810
11,544
618,881
23,133
24,450
49,162
92,640

832,900
11,776
627,898
23,630
24,821
49,932
94,844

828,941
11,942
622,636
23,738
24,968
50 029
95,629

838,952
11,963
630,250
23,812
25,220
50,676
97,031

848,377
12,082
636,784
24,040
25,604
51,505
98,362

853,447
12,261
638,566
24,165
25,880
52,237
100,337

866,872
12,609
647,006
24,844
26,505
53,187
102,721

876,733
12,643
654,571
25,080
26,717
53,780
103,942

885,320
12,681
662,033
23,409
27,201
54,762
105,235

906,122
12,992
673,473
25,681
28,364
56,036
109,576

893,819
13,147
663,793
25,571
28,038
55,687
107,584

3.8
4.9
3.3
3.8
6.0
5.5
6.1

-1.4

307,996
864,883
822,797
336 478
852,348
248,876
465 009
247,954
840,367

311,447
872,378
834,972
338,964
861,699
252,206
472,043
251,753
850,016

314,023
881,058
839,908
340,878
868,993
254,643
474,260
254,739
858,119

325 124
916,631
868,497
357 516
898,709
263,781
493 268
263 843
877,758

315,885
887,344
859,626
354,969
887,297
260,736
489,862
260,483
865,781

3.5
4.0
4.9
6.1
4.5
5.8
5.7
5.7
3.8

-2.8
-3.2
-1.0

. .

6.0

3.9
5.3

-.6
-2.7
-1.8
-2.3
-1.1

-.4
.3
-1.2
-3.4
-4.0
-1.6

-.7
-1.0

-.1
-2.2

-.7
2.9
-2.8
-1.7

-.7
1.0
-5.8

.4
-1.1
-1.5

.4
-2.0
-1.3
-1.0

.3
.9
-.5
-1.1
-1.8
-1.1

-.1
-1.0
-1.7

.3
-.4
-1.1

-.9
-3.4
-1.4

-.5
1.2
-1.4

-.4
-1.2

-.6
-1.8

Census Divisions

New England
Middle Atlantic
East North Central
West North Central
South Atlantic
East South Central
West South Central
Mountain
Pacific
r

288 974
797,544
756,318
306,562
781,044
221,205
414,728
220113
772,557

292 270
809,423
767,862
307 680
792,196
224,241
421 438
223,985
786,114

295,242
819,783
775,658
306,739
801,815
227,217
426,392
227,044
795,360

295,851
825,888
785,057
317 742
806,711
230,600
433,619
232 418
808,079

294,906
821,141
781,282
315,107
813,248
232,872
438,855
233,118
803,973

Revised.
p
Preliminary.
1. The personal income level shown for the United States is derived as the sum of the State estimates; it differs
from the national income and product accounts (NIPA) estimate of personal income because, by definition, it omits
the earnings of Federal civilian and military personnel stationed abroad and of U.S. residents employed abroad ternporarily by private U.S. firms. It can also differ from the NIPA estimate because of different data sources and revision




297,332
831,148
789,041
319,508
821,001
235,649
445 237
236,818
813,731

299,510
838,588
796,914
319,925
828,439
238,858
448,244
238,924
822,773

302 967
849,758
808,065
329 495
836,671
243,363
457 398
244,159
827,566

-.7
-1.3
-1.2

-.7
-1.3
-1.4

schedules.
2. The third quarter 1992 estimates of personal income reflect the losses resulting from damage caused by Hurricane Andrew in Florida and Louisiana and by Hurricane Iniki in Hawaii,
NOTE.—The quarterly estimates of State personal income were prepared by Marian B. Sacks, James P. Stehle,
Isabelle B. Whiston, and James M. Zavrel, under the supervision of Robert L. Brown,

SURVEY OF CURRENT BUSINESS

July 1993 •

39

Table 2.—Nonfarm Personal Income, States and Regions
[Millions of dollars, seasonally adjusted at annual rates]
1990

1992

1991

1993

Percent change
Av. Annual

1

II

III

IV

I

II

III

IV

lr

IIr

lllr

IV

Quarterly

1991:11993:1

State and region

1992:1V1993:1

\p

4,502,053

4,574,260

4,637,111

4,684,463

4,691,285

4,739,398

4,794,630

4,851,116

4,935,542

4,995,235

5,043,790

5,205,714

5,117,563

4.4

-1.7

New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont

288,091
82,066
20,559
134,077
23,054
18,596
9,738

291,422
83,291
20)876
135,326
23,323
18,801
9305

294,458
84,426
2U15
136,569
23,504
18,951
g*893

295,152
85,278
2i)027
136,473
23,514
18,962
9)898

294,152
84,018
21,190
136,400
23^615
19,016
9 $ 12

296,540
84*955
21*216
137,429
23,844
19,107
9#89

298,731
85)368
21 *496
138,219
24) 143
19)370
10)i36

302,216
86*410
21 £68
139,812
24)568
19)553

310,606
88)i18
22)324
144,028
25,307
20)322
10)506

313,204
88)837
22)612
144,866
25)630
20)580
10)679

324,238
92)313
23)033
150,034
26)709
21,140
1i)010

315,035
88)350
22)888
146,032
26)224
20,652
10)888

3.5
2)5
3)9
3.5
5.4
4.2
4.8

-2.8
-4.3

1 o|2O5

307,216
87)328
22)013
142,569
24,965
19,998
10)343

Mideast
Delaware
District of Columbia . .
Maryland . . . .
New Jersey
New York
Pennsylvania

925,417
13,402
14)i20
102,814
189,241
389,415
216,426

939,133
13,601
14^239
104,353
192,173
394,402
220,365

951,691
13,830
14)469
105,766
194,415
399,369
223,842

958,628
13,894
14)635
106,219
195,955
402,255
225,669

954,434
13,976
14^608
106,630
192,959
399,896
226,365

965,282
13,957
14J71
107,537
195,454
404,952
228,611

973,997
14,071
14#15
108 296
197',530
408,188
230,998

986,524
14,243
15^031
109 305
199)788
413,820
234,337

1,003,319
14,299
15)352
110,963
203,527
420,574
238,603

1,012,158
14,522
15)457
112.106
205,432
423,027
241,614

1,022,170
14,606
15)634
113,021
207,078
427,614
244,217

1,060,907
15,026
15)776
115 761
215,797
447,241
251,305

1,030,116
14,960
15)820
114 356
208,475
429,334
247,170

3.9
3.5
4.1
36
3.9
3.6
4.5

-2.9

Great Lakes
Illinois
Indiana
Michigan
Ohio
Wisconsin

748,872
225,951
90,715
166,280
183,871
82,056

762,147
229,728
91,735
169,027
188,170
83,488

771,731
232,511
93,565
171,241
189,611
84,804

778,695
236,057
94,101
171,458
191,206
85,871

777,396
234,459
94,491
170,859
191,406
86,182

784,477
237,199
95,294
173,172
191,743
87,070

793,876
239,705
96,588
174,681
194,784
88,118

804,281
241,954
98,058
177,715
197,422
89,131

816,192
245,109
99,086
179,947
201,044
91,005

829,215
248,396
100,811
183,798
203,713
92,497

834,516
250,498
102,238
183,582
204,568
93,631

862,351
259,029
105,489
191,204
209,714
96,916

849,880
253,719
103,783
188,893
208,936
94,550

4.6
4.0
4.8
5.1
4.5
4.7

-1.4
-2.1
-1.6
-1.2

Plains
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota

292,582
43,440
41,813
77,982
86,600
24,646
8,730
9,371

297,567
44,034
42,552
79,600
87,839
25,156
8,857
9,529

301,202
44,754
43,235
80,470
88,655
25,395
8,980
9,713

304,916
45,322
43,628
81,421
89.629
25,940
9,123
9,854

306,542
45,583
43,921
81,511
90,330
26,066
9,165
9,965

309,743
46,006
44,393
82,520
91,223
26,274
9,245
10,082

314,267
46,547
45,157
83,680
92,499
26,712
9,385
10,287

318,521
47,093
45,665
84,862
94,085
26,902
9,504
10,410

324,607
48,122
46,592
86,775
95,498
27,270
9,696
10,653

328,582
48,771
47,128
87,588
96,679
27,779
9,809
10,828

332,145
49,269
47,342
89,090
97,477
28,062
9,961
10,944

342,561
50,623
48,821
92,466
100,466
28,830
10,185
11,169

338,309
50,042
48,191
90,277
99,820
28,490
10,245
11,244

5.1
4.8
4.7
5.2
5.1
4.5
5.7
6.2

-1.2
-1.1
-1.3
-2.4

Souiheast
Alabama
Aikansas
Florida'
Georgia
Kentucky
Louisiana'
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia

949,654
57,982
31,068
235,188
107,336
53,005
58.215
31,309
105,246
51,060
75,586
119,663
23,997

964,351
59,100
31,579
239,251
108,994
53,813
59,102
31,825
106,722
52,168
76,465
121,031
24,301

978,114
59,821
32,077
242,253
110,890
54,705
60,044
32,312
107,928
52,829
77,899
122,725
24,632

987,144
60,677
32,366
244,744
111,496
55,552
61,099
32.718
108,090
53,226
78,675
123,505
24,997

994,461
61,395
32,687
246,128
112,121
55,425
62,038
33,097
108,768
53,760
79,580
124,148
25,314

1,003,859
61,873
32,912
247,828
113,347
56,423
62,859
33,445
110,064
53,994
80,580
124,942
25,592

1,016,537
62,659
33,421
249,971
114,646
57,654
63,776
33,958
112,588
54,581
81,592
125,865
25,824

1,028,999
63,476
33,980
252,329
116,122
58,492
64,781
34,478
114,039
55,193
83,220
126,651
26,238

1,049,594
64,984
34,853
255,995
118,966
59,840
65,782
35,320
116,548
56,317
85,040
129,130
26,820

1,062,369
65,650
35,443
258,222
120,501
60,761
66,577
35,727
118,138
57,043
86,539
130,581
27,186

1,073,372
66,638
35,706
259,775
121,936
61,398
66,895
36,192
120,116
57,786
87,275
132,194
27,461

1,109,144
68,393
37,137
271,266
126,040
63,255
68,486
37,074
123,922
59,161
90,877
135,416
28,118

1,094,832
67,431
36,668
265,947
124,388
62,636
68,289
37,052
122,927
58,453
89,116
133,857
28,067

4.9
4.8
5.9
3.9
5.3
6.3
4.9
5.8
6.3
4.3
5.8
3.8

-1.3
-1.4
-1.3
-2.0
-1.3
-1.0

5.3

-.2

Southwest
Aiizona
New Mexico
Oklahoma
Texas

396,747
57,585
20,613
45,731
272,818

403,682
58,393
20,891
46,313
278,085

410,801
59,373
21,317
46,921
283,190

415,582
60,043
21,635
47,544
286,359

420,663
60,673
22,004
47,857
290,130

425,959
61,287
22,253
48,290
294,130

431,248
61,713
22,593
48,795
298,147

438,156
62,600
22,823
49,450
303,283

445,696
63,994
23,358
50,336
308,009

451,859
64,983
23,728
50,948
312,201

457,028
65,614
24,170
51,384
315,860

472,802
67,735
24,507
52,459
328,101

467,714
66,398
24,573
52,446
324,298

5.4

-1.1
-2.0

4.7
5.7

0
-1.2

Rocky Mountain
Colorado
Idaho
Montana
Ulan
Wyoming

115,194
59,710
13,880
11,216
23,253
7,135

117,248
60,767
14,110
11,268
23,778
7,325

119,265
61,796
14,350
11,415
24,343
7,361

121,144
62,725
14,614
11,566
24,757
7,481

122,808
63,545
14,795
11,830
25,106
7,533

124,436
64,314
15,025
12,011
25,516
7,570

126,447
65,195
15,353
12,355
25,874
7,670

128,492
66,261
15,620
12,581
26,265
7,765

131,443
67,557
16,092
12,920
27,006
7,867

133,343
68,638
16,390
13,069
27,315
7,930

135,262
69,631
16,622
13,184
27,873
7,952

138,771
71,525
17,068
13,349
28,680
8,150

138,059
70,898
17,215
13,446
28,347
8,154

6.0
5.6
7.9
6.6
6.3
4.0

-.5

Far West
Alaska
California
Hawaii'
Nevada
Oiegon
Washington

785,496
11,222
595,098
21,590
23,151
46,573
87,862

798,710
11,459
603,912
22,306
23,720
47,575
89,737

809,849
11,537
611,488
22,902
24,351
48,265
91,304

823,203
11.766
621,227
23,408
24,719
48,955
93,128

820,828
11,937
616,782
23,521
24,882
49,298
94,408

829,102
11,958
623,186
23,591
25,130
49,796
95,441

839,526
12,077
630,346
23,823
25,517
50,620
97,143

843,928
12,253
632,126
23,952
25,772
51,234
98,591

857,475
12,604
640,107
24,614
26,469
52,418
101,263

867,105
12,637
647,595
24.845
26,676
52,980
102,371

876,094
12,676
655,233
23.235
27,165
53,976
103,809

894,940
12,982
665,624
25,457
28,314
54,994
107,568

883,617
13,142
656,188
25,348
27,994
54,858
106,086

3.8
4.9
3.1
3.8
6.1
5.5
6.0

-1.3

307,216
862,704
816,192
324,607
844,390
245,184
458,979
245,264
831,006

310,606
870,073
829,215
328,582
853,756
248,677
465,169
248,729
840,429

313,204
878.909
834,516
332,145
862,528
251,503
469,845
252,212
848,929

324,238
914,343
862,351
342,561
890,486
259,599
486,183
259,327
866,626

315,035
884,980
849,880
338,309
878,776
256,235
481,700
257,025
855,623

3.5
3.9
4.6

-2.8
-3.2
-1.4
-1.2
-1.3
-1.3

United States

4.6
5.7

-6
-2.7
-1.8
-2.3
-1.1

-.4
.3
-1 2
-3.4
-4.0
-1.6

-.4
-2.4

-.6
-1.2

.6
7

-.3
-.1
-.8
-1.2
-1.9
-1.2

.3

—9

.9
.7
-1.2
0

1.2
-1.4

-.4
-1.1
_ 0
-1.4

Census Divisions

New England
Middle Atlantic
East North Central
West North Central
South Atlantic
East South Central
West South Central
Mountain
Pacific

288 091
795,082
748,872
292,582
772,825
217,881
407,833
216,543
762,345

291 422
806,941
762,147
297,567
784,659
221,203
415,079
220,252
774,990

r
Revised.
f Preliminary.
NOTE—Nonfarm personal income is total personal income less farm earnings.




294 458
817,627
771,731
301,202
795,321
224,736
422,232
224.306
785,498

295,152
823,880
778,695
304,916
800,805
227,622
427,368
227,541
798,484

294,152
819,220
777,396
306,542
805,452
229,497
432,712
230,368
795,946

296,540
829,017
784,477
309,743
812,031
232,322
438,190
233,105
803,972

298,731
836,715
793,876
314,267
820,757
235,864
444,140
236,271
814,009

302,216
847,945
804,281
318,521
829,151
239,667
451,493
239,686
818,156

5.1

4.5
5.7
5.5
5.6
3.7

-.9
-.9
-1.3

1. The third quarter 1992 estimates of personal income reflect the losses resulting from damage caused by Hurricane Andrew in Florida and Louisiana and by Hurricane Iniki in Hawaii.

Data Availability
Quarterly estimates for the years 1969-89 are available
from the Regional Economic Information System, Regional Economic Measurement Division, BE-55, Bureau
of Economic Analysis, U.S. Department of Commerce,
Washington, DC 20230, or call (202) 606-5360.

SURVEY OF CURRENT BUSINESS

July 1993

U.S. Multinational Companies:
Operations in 1991
By Raymond J. Mataloni, Jr.

ROWTH IN the operations of U.S. multi^ national companies (MNC'S) in 1991 was
constrained by weak economic conditions here
and abroad. According to preliminary results
of BEA'S latest annual survey of U.S. direct investment abroad, worldwide employment of U.S.
MNC'S decreased 1 percent for the second year in
a row, sales increased only 2 percent after a 7percent increase in 1990, and assets increased 6
percent, about the same rate as in 1990 (table 1).
For U.S. parent companies, growth in operations in 1991 was constrained by the economic
recession in the United States and by corporate
downsizing related to longer term, industryspecific factors. Employment decreased 2 percent
for the second consecutive year, and sales increased 1 percent after a 3-percent increase. Assets
increased 5 percent after a 2-percent increase.
For foreign affiliates, growth in operations in
1991 was constrained by sluggish economic conditions both in the United States—which reduced
U.S. parent cash flow, thus limiting the availability of capital for new foreign ventures—and
abroad—which limited the demand for affiliates' output. Employment was essentially unchanged after a 3-percent increase, sales increased
3 percent after a 16-percent increase, and assets
increased 8 percent after a 17-percent increase.
Growth in affiliate assets and sales was also affected by changes in exchange rates. In 1990,
the U.S. dollar had fallen sharply against major European currencies and the Japanese yen,




Acknowledgments
The International Investment Division's Direct Investment Abroad Branch, under the direction of Patricia C. Walker, conducted the survey from which the
estimates were derived. Margo R. Collier supervised the
editing and processing of the reports. Marie Colosimo
and Arnold Gilbert designed the computer programs
to derive estimates for unreported data, generate the
tables, and prevent disclosure of company-specific data.

thus boosting the dollar value of assets and sales
denominated in those currencies; in 1991, by contrast, the dollar was more stable against those
currencies.
The following are other highlights from the
1991 survey:
• Europe remained the favored location for
newly acquired or established affiliates.
• Manufacturing operations of U.S. MNC'S
tended to be located in high-wage countries,
where they primarily served the host country
and other foreign markets.
• Foreign affiliates were more profitable than
their U.S. parents, partly because of differences between business cycle conditions here
and abroad.
• Foreign affiliates remained far less technologyintensive than U.S. parents.
• U.S. MNC'S accounted for a large share of
all U.S. merchandise trade, but they continued to deliver goods to foreign markets
primarily through sales by affiliates rather
than through exports.
• Services accounted for a notably smaller
share of sales by affiliates than of sales by
U.S. parents, an indication that the overseas
presence of MNC'S in services is smaller than
that of MNC'S in other industries.
• The allocation of worldwide MNC employment between the United States and abroad
was little changed from 1982.
This article has three parts. The first part analyzes changes in the employment of U.S. parents
and their foreign affiliates in 1991. The second part briefly examines selected aspects of U.S.
MNC'S in light of the 1991 survey results. The
third part analyzes changes in MNC operations
in low-wage countries during the 1980's. In the
discussion, information from outside sources, including press reports on specific companies, is
used to supplement BEA'S survey data.
The tables that follow the article present selected data for MNC'S. Table 9 presents selected

SURVEY OF CURRENT BUSINESS

Key Terms
The following key terms are used to describe the members of U.S. multinational companies.
U.S. multinational company (MNC) : The U.S. parent and all of its foreign affiliates.
U.S. parent : A person, resident in the United States, that owns or controls 10 percent or more of the voting
securities, or the equivalent, of a foreign business enterprise. "Person" is broadly defined to include any individual,
branch, partnership, associated group, association, estate, trust, corporation or other organization (whether or
not organized under the laws of any State), or any government entity. If incorporated, the U.S. parent is the fully
consolidated U.S. enterprise consisting of (1) the U.S. corporation whose voting securities are not owned more
than 50 percent by another U.S. corporation, and (2) proceeding down each ownership chain from that U.S.
corporation, any U.S. corporation (including Foreign Sales Corporations located within the United States) whose
voting securities are more than 50 percent owned by the U.S. corporation above it. A U.S. parent comprises the
domestic (U.S.) operations of a U.S. MNC.
Foreign affiliate : A foreign business enterprise in which there is U.S. direct investment, that is, in which a U.S.
person owns or controls 10 percent or more of the voting securities or the equivalent. Affiliates comprise the
foreign operations of a U.S. MNC.
Majority-owned foreign affiliate (MOFA) : A foreign affiliate in which the combined ownership of all U.S. parents
exceeds 50 percent.
Nonbank : An entity (MNC, parent, or affiliate) whose primary activity is not banking. Only nonbanks are covered
by this article.

data for U.S. parents by industry of the parent;
table io, for foreign affiliates by country and major industry; and table 11, for majority-owned
foreign affiliates by country and major industry. Tables 12 and 13 present foreign affiliates'
assets and employment, respectively, by country
cross-classified by major industry of affiliate.
Employment
This section examines employment by U.S. parents and by foreign affiliates in 1991. Because
employment is not directly affected by valuation
changes (such as those caused by inflation or by
exchange-rate fluctuations), it usually provides a
more accurate indication of changes in the level
of real economic activity than other available
measures.

Data Availability
Only summary data are published in this article.
Estimates of U.S. MNC operations in greater detail
are available for 1977 and for 1982-91 in publications
and for 1982-91 on computer-readable media (tape or
diskette). For information on ordering publications,
call (202) 606-9867; for information on computer media, call (202) 606-9820. Publications presenting the
revised estimates for 1990 and the preliminary estimates
for 1991 will be available in August; their availability will
be announced on the inside back cover of the SURVEY
OF CURRENT BUSINESS.




U.S. parents, highlights by industry
The 2-percent decrease in U.S. parent employment in 1991 mirrored the decline in total
private employment in the United States and
was widespread among industries. Excluding
changes resulting from industry ^classifications
of U.S. parents, the largest decreases were in
transportation equipment manufacturing, nonelectrical machinery manufacturing, and "other"
industries.1
In transportation equipment manufacturing,
parent employment decreased 4 percent; the
decrease was spread between the two major segments of the industry—automotive ("motor vehicles and equipment") and aerospace (included
in "other transportation equipment"). In the automotive industry, the decrease mainly reflected
reduced production in response to falling demand in the U.S. auto market. In aerospace,
the decrease reflected parents' efforts to bring
employment in line with reduced orders for military equipment by the U.S. Government. In
nonelectrical machinery manufacturing, parent
employment decreased 6 percent, partly reflecting the elimination of redundant jobs following
a merger of U.S. parent companies. In "other"
1. Each U.S. parent is classified in the industry that accounts for the
largest portion of its sales or, for holding companies, its total income. Many
U.S. parents are involved in a variety of business activities, and changes
in the mix of these activities can cause a parent's industry classification to
change. In 1991, industry ^classifications, which have no net effect on the allindustries total, resulted in decreases in employment in electric and electronic
equipment manufacturing and in finance (except banking), insurance, and
real estate (FIRE), largely offset by an increase in "other" manufacturing.

July 1993

•

41

SURVEY OF CURRENT BUSINESS

42 • July 1993

industries, parent employment decreased 2 percent; the largest decreases were in retail trade
and transportation. In retail trade, the decrease
mainly reflected sluggish sales; in transportation, the decrease mainly reflected consolidation
within the airline industry.
U.S. parent employment increased in services
and wholesale trade. In services, it increased 1
percent, mainly as a result of growth in existing operations. In wholesale trade, it increased
4 percent, mainly as a result of the entry into
the parent universe of U.S. companies that established or acquired foreign affiliates for the first
time in 1991.

Table 1.—Total Assets, Sales, and Employment of Nonbank
U.S.

MNC's,

U.S.

Parents,

and

Foreign

Affiliates,

Parents

Affiliates

1982-91
MNC's
worldwide'

Total assets
Millions of dollars:
1982
1983
1984
1985
1986
1987
1989.
1990 .
1991 .
Percent change at annual rates:
1982-90
1989-90
1990-91

3,493,105
3,653,616
3,820,025
4,297,034
4,723,294
5,285,962
5,569,767
6,182,401
6,510,086
6,867,509

2,741,619
2,902,793
3,060,031
3,462,398
3,792,001
4,175,308
4,363,441
4,852,373
4,951,048
5,177,348

751,486
750,823
759,994
834,636
931,293
,110,654
,206,326
,330,028
,559,038
,690,161

8.1
5.3
5.5

7.7
2.0
4.6

9.6
17.2
8.4

3,284,168
3,263,802
3,407,337
3,482,155
3,473,354
3,742,022
4,022,942
4,421,731
4,737,147
4,817,452

2,348,388
2,377,488
2,508,779
2,586,695
2,544,439
2,689,227
2,828,209
3,136,837
3,243,721
3,274,002

935,780
886,314
898,558
895,460
928,915
1,052,795
1,194,733
1,284,894
1,493,426
1,543,450

4.7
7.1
1.7

4.1
3.4
.9

Percent change at annual rates:
1982-90
1989-90
1990-91

Year-to-year changes in affiliate employment are
the net result of changes in existing operations,
acquisitions and establishments of affiliates, sales
of affiliates to foreigners, liquidations of affiliates,
and improvements in survey coverage (table i).2
In 1991, decreases in employment attributable to
existing operations and to affiliates that were sold
or liquidated partly offset increases attributable
to affiliates identified through improvements in
coverage and to affiliates that were acquired and
established.
Acquisitions and establishments.—In 1991, 259 affiliates with a combined employment of 98,300
were established or acquired by U.S. MNC'S (table 3). As in the prior year, Europe was the
primary location for the new affiliates.3 New European affiliates accounted for 62 percent of the
number of all new affiliates, and for 60 percent of
their employment. Employment by new affiliates
in Latin America and Other Western Hemisphere
was also sizable, but it was the result of one very
large transaction rather than a general pattern.
Manufacturing was the primary industry for
new investments in 1991, but to a much lesser extent than in 1990. In 1991, 31 percent of all new
affiliates were in manufacturing, compared with
47 percent in 1990, and 36 percent of new-affiliate
employment was in manufacturing, compared
with 87 percent. All of the major industries except manufacturing had more acquisitions and
establishments in 1991 than in 1990.

6.0
16.2
3.3

Sales
Millions of dollars:
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991

Foreign affiliates

2. Through BEA'S efforts to improve survey coverage, some affiliates that
existed in prior years were added to the survey universe in 1991. Some of
these affiliates should have been reported in earlier years but were not. Data
for these affiliates are included in line 7 of table 2.
3. Acquisitions and establishments of foreign affiliates in 1990 are discussed in "U.S. Multinational Companies: Operations in 1990," SURVEY OF
CURRENT BUSINESS 72 (August 1992): 62-63.

Table 2.—Sources of Change in Selected Data Items
for Nonbank Foreign Affiliates, 1990-91

Number of employees
Thousands:
1982
1983
1984
1985
1987.
1988 .
1989 .
1990.
1991 .
Percent change at annual rates:
1982-90
1989-90
1990-91

Millions of dollars
Line
25,344.8
24,782.6
24,548.4
24,531.9
24,082.0
24,255.4
24,141.1
25,387.5
25,263.6
24,908.8

18,704.6
18,399.5
18,130.9
18,112.6
17,831.8
17,985.8
17,737.6
18,765.4
18,429.7
18,010.7

6,640.2
6,383.1
6,417.5
6,419.3
6,250.2
6,269.6
6,403.5
6,622.1
6,833.9
6,898.1

0

-.2
-1.8
-2.3

.4
3.2
.9

1

Total change

Sales

131,123

50,025

64.2

24,193

10,418

98.3

10,830
13,363

4,261
6,157

66.2
32.1

Change attributable to:
2
3
4

New affiliates
Of which:
Acquisitions
Establishments

5

* Less than .05 percent (±).
1. The MNC totals for assets and sales contain duplication because they do not exclude
positions and transactions between parents and affiliates.
MNC Multinational company




Total assets

Number of
employees
(thousands)

Changes in existing
operations

90,038

44,448

-32.4

6

Sales or liquidations

-24,442

-21,236

-132.5

7

Change not accounted for in
lines 2 - 6 l

41,334

16,395

130.8

1. Includes changes resulting from the addition to the survey universe of affiliates that were
required to report in earlier years but did not, and other unallocated changes.

SURVEY OF CURRENT BUSINESS

Highlights by area and by industry.—By area, affiliate employment in 1991 increased modestly
in Europe, Asia and Pacific, Latin America
and Other Western Hemisphere, Africa, and
the Middle East, and it declined in Canada.
By industry, employment increased in services,
"other" industries, and wholesale trade, but it
decreased in manufacturing, in finance (except
banking), insurance, and real estate (FIRE), and
in petroleum.
In Europe, affiliate employment increased 2
percent to 3.0 million, following an 8-percent increase. The slowdown reflected a reduction in
the growth of ongoing operations as well as a
general reduction in the size of newly acquired or
established affiliates. Of the employment growth
that did occur, roughly one-half was attributable
to minority-owned foreign affiliates. In Eastern Europe, affiliate employment grew rapidly,
largely as a result of acquisitions and establishments in Hungary and Poland; however, affiliate
employment in this region remained low, at
21,000.

In Asia and Pacific, employment increased 1
percent to 1.5 million, following a 3-percent inTable 3.—Acquisitions and Establishments of Nonbank
Foreign Affiliates, by Major Area and by Major Industry
of Affiliate, 1991
Number of acquisitions
and establishments
Total

Acquisitions

Establishments

NumTntfll
1 Utdl
ber of
assets
em(millions
ployees
of dol(thoulars)
sands)

July 1993

crease. The slowdown mainly reflected decreases
in Australia and the Philippines. In Australia, the
decrease was widespread by industry and partly
reflected the economic recession. In the Philippines, the decrease was concentrated in food
manufacturing and was probably related to the
extensive agricultural damage caused by the eruption of Mount Pinatubo. These decreases were
offset by sizable increases in affiliate employment
elsewhere in the region, mainly in Japan and
Thailand, where continuing economic growth
contributed to widespread increases, and in New
Zealand, where the privatization of the telephone
system led to the acquisition of one large affiliate.
In Latin America and Other Western Hemisphere, employment increased marginally to 1.3
million, following a 2-percent increase. The slowdown was more than accounted for by a decrease
in affiliate employment in Brazil, mainly in manufacturing. Partly offsetting increases occurred
in Mexico and Venezuela. In Mexico, the growing local economy, liberalized investment climate,
and proximity to the United States continued to
attract new affiliates and to encourage existing
affiliates to expand. In Venezuela, the increase
reflected one very large investment in the newly
privatized telecommunications industry.
Table 4.—Employment of Majority-Owned and All Nonbank
Foreign Affiliates, by Area, 1991
Number of employees (thousands)

All affiliates
All areas, all industries

259

106

153

24,193

98.3

21
161

4
79

17
82

3,765
14,503

8.5
58.9

25

12
3

2,740

42

13
1
0
9

2

Majorityowned
affiliates

Minorityowned
affiliates

Percent of
total
accounted
for by majorityowned affiliates

By major area
Canada
Europe
Latin America and Other Western
Hemisphere
Africa
Middle East
Asia and Pacific
International'
Addendum:
European Communities (12) 2

0

4
33
2

2,988
(D)

22.6
.1
.2
8.0
.1

136

68

68

13,002

45.4

24

5
45
9

19
35
5

5

7

(D)
6,486
944
1,930

2.2
35.7
7.9
11.5
1.5
1.9
5.9
.5
6.7
9.1

4
4

(D)
97

By major industry
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products ....
Primary and fabricated metals ....
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Wholesale trade
Finance (except banking),
insurance, and real estate
Services
Other industries
15

80
14

12
5
5
12

2
5
5
3

3
0
7

246
712
704
(D)
(D)

4
28
41

16

1
12

17

24

1,537

60
30
24

13
14
12

47
16
12

8,008
2,877

(D)

2.2
15.4
33.7

Suppressed to avoid disclosure of data of individual companies.
1. "International" affiliates are those that have operations in more than one country and
that are engaged in petroleum shipping, other water transportation, or operating movable oiland gas-drilling equipment.
2. European Communities (12) comprises Belgium, Denmark, France, Germany, Greece,
Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, and the United Kingdom.




All countries
Canada
Europe
Of which:
France
Germany
Italy
Netherlands
Switzerland
United Kingdom
Latin America and Other
Western Hemisphere ....
Of which:
Mexico
Africa
Middle East
Asia and Pacific
Of which:
Australia
India
Japan
Korea, Republic of
International'
Addendum:
European Communities (12)
1. See footnote 1 to table 3.
2. See footnote 2 to table 3.

6,898.1

5,386.2

1,511.9

78

911.6

861.6

50.0

95

2,973.3

2,567.2

406.1

86

439.3
614.2
209.6
144.2
57.7
958.5

355.8
530.3
178.1
130.1
49.7
878.6

83.5
83.9
31.5
14.1
8.0
79.9

81
86
85
90
86
92

1,338.8

995.5

343.3

74

577.3

404.6

172.7

70
64

122.7

78.4

44.3

50.3

29.0

21.3

58

1,473.0

831.7

641.3

56

370.6
39.9
412.7
72.5

191.6
10.5
146.9
26.6

179.0
29.4
265.8
45.9

52
26
36
37

28.4

22.7

5.7

80

2,758.5

2,405.7

352.8

87

•

43

SURVEY OF CURRENT BUSINESS

44 • July 1993

Table 5.-Selected Data for Nonbank U.S. MNC's, U.S. Parents, and MOFA's, by Industry of U.S. Parent, 1982,1989, and 1991
Millions of dollars
Sales to unaffiliated persons'

Net income

Millions of dollars

Research and
development
expenditures

Number of employees (thouCapital expendsands)
itures 2

Sales to unaffiliated persons'

Net income

3

1982:
All industries
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Wholesale trade
Finance (except banking), insurance, and real estate
Services
Other industries
1989:
All industries
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Wholesale trade
Finance (except banking), insurance, and real estate
Services
Other industries
1991:
All industries
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Wholesale trade
Finance (except banking), insurance, and real estate
Services
Other industries

2,809,252
716,779
1,244.342
152.715
226,653
116,991
149.891
140,795
215.862
241,435
158.350
219.544
53.780
416,458

128,183
32,749
54.832
6.839
15,301
-1,607
11,822
8.104
2,821
11,552
2,468
15.051
3.496
19,587

3,780,150
454,570
1,949,221
238,629
321,167
122,068
249,741
169,909
432,713
414,994
254,746
433,328
125,561
562,724

242,805
33,739
139.476
17,987
35,023
8,107
21,676
9,842
21,661
25,181
4,330
29,332
8,318
27,608

n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.

157,896
29,387
78,364
21.439
35,026
1,870
1,174
7,377
-297
11,775
4,577
20,570
6,136
18,862

41,804
2,949
33,505
866
7,496
883
6,734
5,437
7,628
4,461

n
n

174

n
66,973
2,425
57,980
1,244
15,294
955
14,162
6,028
13,092
7,207
651

n

n

23,727.0
1,600.1
14,247.3
1,436.1
2,032.7
1,223.0
1,972.0
2.107.2
2,332.0
3,144.3
522.5
1.316.2
1,121.1
4,919.7

2,238,891
511,382
974,757
118.598
163,391
98.644
105.464
118,712
171.263
198,685
124,571
195,174
46,371
386,636

102,044
24,847
40.565
5,205
11,295
-2,173
7,715
6,483
2,367
9,673
2,023
13,432
2,980
18,197

38,157
2,633
30,596
726
6,690
848
6.383
5,262
6,674
4,013

258,818
41.483
131,959
12,042
27,768
7,284
18,466
13,624
24,361
28,414
6,090
9,431
16,707
53,148

23,879.4
786.0
13,791.1
1,473.1
1,881.1
843.2
1,905.0
1,479.4
2,851.9
3,357.4
582.6
1,408.0
2,014.6
5,297.1

3,006,350
307,271
1,471,052
189,378
219,648
102,614
147,193
136,864
343,760
331.595
208,474
388,134
105,104
526,315

170,663
21,501
89.275
13,079
22,703
5.626
9,727
7,312
13,429
17,399
2,871
24,559
6,491
25,965

59,925
2,213
51.699
1,048
13,414
885
12,973
5,612
11.320
6,448
581
(")
888

271,469
51,291
123,130
13,633
30,610
5,675
15,721

23,396.9
769.1
13,316.3
1,585.8
1,901.5
706.9
1,726.8
1,395.0
2,678.9
3,321.4
648.8
1,304.4
2,007.2
5,351.2

n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.

91,959
13,892
36,803
13,240
22,044
978
-5,829
4,880
-4,960
6,451
2,210
17,445
4,544
17,065

67,457
2,549
58,918
1,086
14,917
905
13,442
6,244
14,111
8,214
793
197
1,435
3,566

9,798
23,317
24,377
7,425
11.767
17,608
60,250

a

168

n

200,404
65.171
73.787
6.254
14.862
6,433
10,884
8.814
10.557
15,983
2.491
5.922
6,462
46,572

18,704.6
1,225.3
10.532.8
1,011.2
1,364.6
976.2
1,457.9
1.619.5
1.687.3
2,416.0
396.7
1,004.0
993.8
4,551.9

201,808
26.790
98.662
9.361
20,295
5,402
11,535
11,004
18,642
22.423
4,953
7,581
13,628
50,194

18,765.4
579.8
10.127.0
1,135.8
1,255.0
684.6
1,249.9
1,093.3
2,104.4
2,604.0
434.2
1,107.6
1.700.0
4,816.7

208,538
33,043
87,789
9.605
21.215
4,321
9,792
7,170
16,467
19,219
6,236
10,121
15.207
56,143

18,010.7
574.5
9,537.8
1,144.9
1,246.3
567.6
1,120.6
995.9
1,903.9
2,558.7
475.2
1,014.9
1,663.5
4,744.8

MOFA share of worldwide MNC total (percent)
44,812
19,396
21,844
2,177
3,793
1,453
6,110
1,006
4,119
3,187
458
806
626
1,680

5,022.4
374.8
3,714.5
424.9
668.1
246.8
514.1
487.7
644.7
728.3
125.8
312.2
127.3
367.8

20
29
22
22
28
16
30
16
21
18
21
11
14
7

21

7,048
212
6,281
196
1,880
70
1,189
416
1,772
759
70
(D)
90

57,010
14,693
33,297
2,681
7,473
1,882
6,931
2,620
5,719
5,991
1,137
1,850
3,079
2,954

5,114.0
206.2
3,664.1
337.3
626.1
158.6
655.1
386.1
747.5
753.4
148.4
300.4
314.6
480.4

20
32
25
21
32
16
41
19
21
20
18
10
16
6

21
26
27
23
33
19
34
26
26
22
25
21
16
9

9,358
226
8,539
234
2,701
48
1,605
563
2,345
1.043
120

62,931
18,248
35,341
4,028
9,395
1,354
5,929
2.628
6.850
5.158
1.189
1.646
2,401
4,107

5,386.2
194.6
3,778.5
440.9
655.2
139.3
606.2
399.1
775.0
762.7
173.6
289.5
343.7
606.4

n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.

23
25
28
28
34
20
35
29
29
23
27
22
17
11

570,361
205,397
269,585
34,117
63,262
18,347
44,427
22,083
44.599
42,750
33,779
24,370
7,409
29,822

26,139
7,902
14,267
1,634
4,006
566
4,107
1,621
454
1,879
445
1,619
516
1,390

3,647
316
2,909
140
806
35
351
175
954
448
24

773,800
147,299
478,169
49,251
101,519
19,454
102,548
33,045
88,953
83,399
46,272
45,194
20,457
36,409

72,142
12,238
50,201
4,908
12,320
2,481
11,949
2,530
8,232
7,782
1,459
4,773
1,827
1,643

943,796
174,370
563,256
68,894
121,139
18,384
108.713
38.368
103.934
103,823
67.109
59.973
27,570
51,517

65,937
15,495
41,561
8,199
12,982
892
7.003
2,497
4,663
5.324
2.367
3,125
1,592
1.797

(°)

6

n

n

* Not meaningful.
° Suppressed to avoid disclosure of data of individual companies.
n.a. Not available.
1. Measures sales by parents and affiliates, excluding sales among parents and affiliates that belong to the same
2. The data on capital expenditures by MOFA's are based on BEA's semiannual survey of capital expenditures
by MOFA's.




245,216
84,567
95,631
8,431
18,655
7,886
16,994
9,820
14,676
19,170
2,949
6,728
7,088
48,252

978
76,815
2,775
67,457
1,320
17,618
953
15,047
6,807
16,456
9,257
913
197
1,519
3,566
MOFA's

Number of employees (thousands)

Parents

MNC's worldwide
1982:
All industries
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Wholesale trade
Finance (except banking), insurance, and real estate
Services
Other industries
1989:
All industries
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Wholesale trade
Finance (except banking), insurance, and real estate
Services
Other industries
1991:
All industries
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Wholesale trade
,
Finance (except banking), insurance, and real estate
Services
Other industries

Research and
development Capital expenditures
expenditures

23
26
30
33
20
26
23
28
23
24
24

3. The MOFA share of MNC net income must be interpreted with caution because parents' net income includes
the parents' shares of their affiliates' net income. Thus, this amount is double-counted in the denominator of the
ratio. For this reason, the ratio, and any increase or decrease in it, will be somewhat understated (assuming that
both the numerator and the denominator are positive).
MNC Multinational company
MOFA Majority-owned foreign affiliate

SURVEY OF CURRENT BUSINESS
In Africa, employment increased 2 percent
to 123,000, as manufacturing affiliates were established in Nigeria.
In the Middle East,
employment increased 1 percent to 50,000.
In Canada, affiliate employment decreased 2
percent to 911,000 after a similar decrease in 1990.
The decrease reflected divestiture of affiliates, as
well as economic recession in the United States
and Canada.
Majority-owned foreign affiliates,—Majorityowned foreign affiliates (MOFA'S) are those in
which the combined ownership of all U.S. parents exceeds 50 percent. For some analytical purposes, data for MOFA'S—rather than all
affiliates—should be used. For example, data for
MOFA'S are appropriate for analyzing foreign affiliate operations in which the U.S. parent has
unambiguous control. Additionally, some aspects of affiliate operations can be analyzed only
from the perspective of MOFA'S, because the necessary data items are not collected for other
affiliates.
The MOFA share of all affiliate employment was
78 percent in 1991 (table 4). Of the countries
presented in table 4, Canada had the highest
MOFA share (95 percent), followed by the United
Kingdom (92 percent) and the Netherlands (90
percent). The shares were lowest in India (26
percent), Japan (36 percent), and the Republic of
Korea (37 percent). Lower-than-average shares in
some countries may reflect current or, perhaps
more commonly, past restrictions on majority
ownership by foreigners. In India, for example,
foreign ownership of businesses engaged predominantly in trading activities was restricted to 40
percent prior to July 1991.4 Low MOFA shares
may also reflect strategic business decisions by
U.S. parents; for example, some ILS. parents may
acquire minority interests in affiliates to share
knowledge or to facilitate trade rather than to
influence operations or management.
Table 5 presents selected data items for U.S.
parents and for MOFA'S and shows the MOFA share
of the worldwide MNC totals for these items.5 In
1991, 42 percent of worldwide MNC net income,
but only 12 percent of MNC research and de4. Firms meeting certain technology-transfer and export-performance
criteria were exempt from this restriction.
5. The items shown in table 5 were selected because the parent data and
the affiliate data for all of these measures except net income are nonduplicative
and thus yield meaningful comparisons between parent and MOFA shares.
The ratio of MOFA net income to total MNC net income must be interpreted
cautiously because parents' net income includes the parents* share of their
affiliates' net income; thus, this amount is double-counted in the denominator
of the ratio. For this reason, the ratio, and any increase or decrease in it,
will be somewhat understated (assuming that both the numerator and the
denominator are positive).




July 1993 •

velopment expenditures, were accounted for by
MOFA'S. MOFA shares of total MNC employment
and capital expenditures were each 23 percent.
Selected Aspects of MNC Operations
This section briefly examines selected aspects of
U.S. parents and their foreign affiliates in light of
the results of the 1991 survey.
Host country wages and manufacturing MOFA'S.
—In 1991, manufacturing MOFA'S were concentrated in relatively high-wage countries, where
they primarily served the host country and other
foreign markets.6 Sixty-six percent of the employees of manufacturing MOFA'S were located in
high-wage countries. Ninety percent of sales by
manufacturing MOFA'S in these countries were to
foreign customers (60 percent to customers in
the host country and 30 percent to other foreign customers), and only 10 percent were to U.S.
customers.
6. The distinction between "high-wage" and "low-wage" countries is
based on estimates of average hourly compensation paid to production workers by manufacturing MOFA'S; the estimates were derived from data collected
in BEA'S 1989 benchmark survey of U.S. direct investment abroad. For details,
see the section "MNC Manufacturing Operations in Low-Wage Countries."

Table 6.—U.S. Merchandise Trade Associated with Nonbank
U.S. MNC's, 1990 and 1991
[Millions of dollars]

1990

1991

MNC-associated U.S. exports, total
Shipped to affiliates'
To MOFA's
By U.S. parents
By unaffiliated U.S. persons
To other affiliates2
Shipped to other foreigners by U.S. parents
Of which:
Shipped to foreign parent groups of U.S.
parents3

241,285

MNC-associated U.S. imports, total
Shipped by affiliates'
By MOFA's
To U.S. parents
To unaffiliated U.S. persons
By other affiliates2
Shipped by other foreigners to U.S. parents
Of which:
Shipped by foreign parent groups of U.S.
parents3

6,194

262,005
115,258
108,787
95,691
13,096
6,471

134,859

146,747

13,726

14,884

213,358
102,150
88,641
75,251
13,389
13,509
111,208

215,982
102,795
90,479
77,609
12,870
12,316
113,187

36,765

38,538

All U.S. merchandise exports
MNC-associated U.S. exports as share of total
(percent)

392,923

421,763

61

62

All U.S. merchandise imports
MNC-associated U.S. imports as share of total
(percent)

495,978

488,450

43

44

106,426
100,232
88,375
11,858

Addenda:

1. Reported on foreign affiliates' forms.
2. In the annual survey, U.S. exports shipped to minority-owned foreign affiliates were not
disaggregated by affiliation of shipper, and U.S. imports shipped by minority-owned foreign
affiliates were not disaggregated by affiliation of recipient.
3. For U.S. parents that are, in turn, owned 10 percent or more by a foreign person, the
foreign parent group consists of (1) the foreign parent of the U.S. parent, (2) any foreign
person, proceeding up the foreign parent's ownership chain, that owns more than 50 percent
of the person below it, 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.
MNC Multinational company
MOFA Majority-owned foreign affiliate

45

46

SURVEY OF CURRENT BUSINESS

• July 1993

Profitability,—In 1991, the profitability of MOFA'
as measured by net income as a percentage of
owners' equity—exceeded that of their U.S. parents. This measure of profitability was 13 percent
for MOFA'S and 7 percent for parents.7 The higher
profitability of MOFA'S partly resulted from differences between business cycle conditions in the
United States and abroad: In 1991, the U.S. economy was in recession, while some major host
economies in Europe, Latin America, and Asia
continued to expand. In addition, U.S. MNC'S
may require higher rates of return on foreign than
domestic operations in order to offset the added
risks of operating abroad, such as the risk of unfavorable changes in exchange rates or in the host
country's political climate.
7. It should be noted that the rate of return for parents reflects the results
of foreign as well as domestic operations of the MNC because U.S. parents'
net income includes the parents' share of their foreign affiliates' net income
and because parents' owners' equity includes their equity investment in their
foreign affiliates. If the rate of return for parents were computed using measures of domestic operations alone (such measures are not available, however),
affiliates would still have the higher rate of return, and the difference between
the two rates would be somewhat greater than that cited. Note also that the
denominator of this measure of profitability is based on historical cost, so
rates of return for parents and affiliates may differ because of differences in
the relative ages of the firms covered.

Research and development (R&D) intensity.—In
1991, R&D intensity was much higher for U.S. parents than for MOFA'S: U.S. parents spent $21 on
R&D per $1,000 of sales, compared with about $6
for MOFA'S. The higher R&D intensity of U.S. parents partly reflects the following factors: (1) R&D
tends to be a "headquarters function," and (2) the
United States has a well-developed technological
infrastructure, including a large pool of scientists
and engineers. The tendency for parents' R&D
intensity to be higher has, however, decreased in
recent years. In 1982-91, for example, the R&D intensity of MOFA'S grew at an average annual rate
of 5 percent, compared with 3 percent for U.S.
parents. The faster growth of MOFA R&D intensity
over the last decade partly reflects the formation
of joint research ventures between MOFA'S and
unaffiliated foreigners to help defray the cost of
developing new technologies.
The R&D intensity of majority-owned U.S. affiliates of foreign companies (MOUSA'S) was higher
than that of MOFA'S; MOUSA'S spent $9 on R&D
per $1,000 of sales, compared with $6 for MOFA'S.

Table 7.—Sales by Nonbank U.S. Parents and Foreign Affiliates, by Type, 1990 and 1991
[Millions of dollars]
1991

1990
Total
sales

Goods

Services

Investment
income

Total
sales

Goods

Services

Investment

income

U.S. parents
All nonbank parents of nonbank affiliates
To U.S. persons
To foreign persons
To foreign affiliates
To other foreign persons

3,243,721 2,282,448 826,737 134,536 3,274,002 2,245,311 885,691 142,999
n.a.
n.a.
n.a. 854,904
n.a.
n.a.
n.a. 799,176
n.a.
n.a.
n.a. 30,788
n.a.
n.a.
n.a. 27,561
n.a.
n.a.
6,428
n.a.
n.a.
n.a.
n.a.
6,942
n.a.
n.a.
n.a. 24,360
n.a.
n.a.
n.a. 20,619

Foreign affiliates
All nonbank affiliates of nonbank parents
Majority-owned affiliates
To affiliated persons
To unaffiliated persons

1,493,426

n.a.
n.a.
1,208,349 1,051,484 133,339
287,735 262,035 20,065
920,614 789,448 113,273

n.a.
n.a.
n.a. 1,543,450
23,527 1,240,880 1,068,258 145,980
5,634 297,084 269,595 20,561
17,893 943,796 798,663 125,419

12,080
7,309
4,771

3,428
2,803
625

125,927
99,141
26,786

1,084,484
189,258
895,226

943,126 121,259
173,671 12,756
769,456 108,502

20,099
2,831
17,268

Local sales
To other foreign affiliates
To unaffiliated foreign persons

809,477
37,862
771,615

685,505 106,624
31,072
5,345
654,433 101,279

17,348
1,446

Sales to other countries
To other foreign affiliates
To unaffiliated foreign persons

275,008
151,396
123,611

257,622
142,599
115,023

285,077

n.a.

To the United States
To U.S. parents
To unaffiliated U.S. persons
To foreign countries
To other foreign affiliates
To unaffiliated foreign persons

Minority-owned affiliates




n.a. Not available.

123,865
98,477
25,388

108,357
88,365
19,992

109,607
88,343
21,264

n.a.
26,642
6,928
19,714

12,518
7,578
4,940

3,802
3,219
583

1,114,953
197,943
917,009

958,650 133,462
181,252 12,983
777,399 120,480

22,840
3,709
19,131

15,903

823,726
40,685
783,041

685,115 118,667
5,209
32,937
652,179 113,458

19,944
2,539
17,404

14,635
7,412
7,223

2,751
1,386
1,365

291,227
157,259
133,968

273,535
148,315
125,220

14,795
7,774
7,021

2,896
1,170
1,726

n.a.

n.a.

302,570

n.a.

n.a.

n.a.

SURVEY OF CURRENT BUSINESS
Merchandise trade.—In 1991, trade associated
with U.S. MNC'S accounted for a large share of
all U.S. merchandise trade. U.S. merchandise exports associated with U.S. MNC'S—the sum of
goods shipped by all U.S. persons to affiliates
and goods shipped by U.S. parents to unaffiliated foreigners—were $262.0 billion, or 62 percent of total U.S. merchandise exports (table 6).
U.S. merchandise imports associated with U.S.
MNC'S—the sum of goods shipped by affiliates to
all U.S. persons and goods shipped by unaffiliated
foreigners to U.S. parents—were $216.0 billion,
or 44 percent of total U.S. merchandise imports.8
Delivery of goods to foreign markets.—Despite
their large share of total U.S. merchandise exports, U.S. MNC'S continued to deliver goods
to foreign markets primarily through sales by
affiliates rather than through U.S. merchandise
exports in 1991. Of all U.S. MNC sales of goods to
unaffiliated foreigners, roughly 84 percent were
sales by MOFA'S, and the remainder were merchandise exports shipped by U.S. parents.9 The
dominance of sales by MOFA'S reflects many factors, among them the following: (1) Many sales
to foreigners would not be feasible through exporting from the United States because of market
barriers and transportation costs, and (2) MOFA'S
are better positioned than their parents to design,
manufacture, distribute, and service products for
the special requirements of the host country
markets.10
Sales by parents and MOFA'S, by type.—Sales of
goods accounted for most of the sales by parents and MOFA'S in 1991 (table 7). Of the $3,274
million in sales by U.S. parents, 69 percent was
goods, 27 percent was servicesv and the remainder
was investment income.11 Of the $1,241 million in
sales by MOFA'S, 86 percent was goods, 12 percent
was services, and the remainder was investment
income. Services accounted for a notably smaller
share of sales for MOFA'S than for U.S. parents,
8. The data on total U.S. merchandise exports and imports used for this
comparison are on a Census basis; exports include reexports and military
grant shipments. The data are from table 2, lines 1 and 9, in "U.S. International Transactions, First Quarter 1993," SURVEY OF CURRENT BUSINESS 73
(June 1993): 76-77.
9. For this calculation, "U.S. merchandise exports shipped" were used as
a proxy for "sales of goods" by U.S. parents to unaffiliated foreign persons.
The two measures are closely related but differ because of cases in which U.S.
parents ship goods to one party and charge them to a third party.
10. For a discussion of factors that can lead firms to engage in direct investment rather than trade, see C. Fred Bergsten, Thomas Horst,
and Theodore H. Moran, American Multinationals and American Interests
(Brookings Institution, 1978): 46-47.
11. In finance and insurance, parents and MOFA'S generally include investment income in sales because it is generated by a primary activity of the
company. In most other industries, parents and MOFA'S generally consider
investment income an incidental revenue source; in such cases, investment
income is not included in their sales or in this table.




an indication that the overseas presence of MNC'S
in services is smaller than that of MNC'S in other
industries.
MNC Manufacturing Operations
in Low-Wage Countries
The closing of some manufacturing facilities in
the United States and the expansion of U.S.owned facilities in relatively low-wage countries
has generated considerable public debate over
the impact of U.S. direct investment in such
countries on employment and production in the
United States. This debate cannot be fully resolved using statistics, because only the actual
changes that have occurred in domestic employment and production can be directly measured;
changes that would have occurred had the investment not taken place are equally relevant but
are not readily quantifiable.12 Nevertheless, the
following analysis suggests that, although some
U.S. MNC'S in manufacturing have been increasing their presence in relatively low-wage countries
during the last decade, their investments have
not led to pronounced declines in the U.S. parent shares of MNC'S worldwide production and
employment. In other words, the allocation of
worldwide MNC employment and production between the United States and abroad has changed
little over the last decade. This section will examine changes between 1982 and 1991 in the country
distribution of employment by manufacturing
MOFA'S located in low-wage countries and the implications of these changes for employment and
production by U.S. parents.
In the analysis, the distinction between "highwage" and "low-wage" countries is based on
estimates of average hourly wages of production workers of manufacturing MOFA'S; the estimates are derived from data collected in BEA'S
1989 benchmark survey of U.S direct investment
abroad. To ensure the statistical significance of
the data underlying this distinction, the analysis is restricted to countries having the largest
presence of manufacturing MOFA'S.13 High-wage
12. To illustrate the issues involved in determining changes in domestic
employment that may result from U.S. direct investment abroad, suppose
a U.S. manufacturer finds it is losing market share to lower-priced goods
produced in a foreign country where labor costs are lower. If, in response, the
manufacturer decides to transfer a portion of its production to that country,
the immediate and most readily measurable effect is the loss of jobs shifted
abroad. However, it is possible that the U.S. firm would not have survived
without the transfer of production; in this case, even more jobs would have
been lost. Thus, the ultimate effect of the transfer of production may have
been to mitigate the loss of U.S. jobs. How many jobs might have been
saved as a result of the transfer of production, however, cannot be directly
measured.
13. To be included in the sample, a country must have hosted manufacturing MOFA'S that together had at least 10,000 employees in 1989. Such countries

July 1993 •

47

48

• July 1993

SURVEY OF CURRENT BUSINESS
countries are defined as those with average hourly
wages higher than $9.30 (the unweighted average
hourly wage in 1989 of all countries included in
the sample), and low-wage countries are defined
as those with average hourly wages lower than
that level.
Overall, the low-wage-country share of manufacturing MOFA employment increased somewhat
during 1982-91, rising three percentage points to
34 percent in 1991. However, when data for
individual countries are examined, there does
not appear to be a strong correlation between
the level of wages and the rate of change in
manufacturing MOFA employment (chart 1). Furthermore, there were pronounced offsetting shifts
in employment among the low-wage countries
(chart 1, lower panels). Employment by manuaccounted for roughly 95 percent of all employment by manufacturing MOFA'S
in 1989.




facturing MOFA'S tended to shift away from countries with sluggish economies and high corporate
tax rates—countries in which MOFA'S tended to
produce almost exclusively for local markets—
towards rapidly growing, low-tax countries in
which MOFA'S had a greater tendency to produce
goods for export to the United States (table 8).
In the countries where employment by manufacturing MOFA'S grew, real gross domestic product
increased at an average annual rate of 5.3 percent
over the period, compared with a 2.6-percent rate
in the other low-wage countries, MOFA income
taxes averaged 24 percent of MOFA net income in
these countries, compared with 43 percent in the
other low-wage countries. For MOFA'S located in
these countries, an average of 35 percent of sales
were to U.S. customers in 1991 (the remainder to
foreign customers), compared with 8 percent for
MOFA'S in the other low-wage countries.

Employment Growth and Wages Rates of Manufacturing MOFA's
in Selected Host Countries
Average hourly wage paid to production workers of manufacturing MOFA's, 1989
Dollars
24
HIGH-WAGE COUNTRIES WITH RISING EMPLOYMENT

HIGH-WAGE COUNTRIES WITH FALLING EMPLOYMENT

A
Japan

20
Sweden

A
Canad

Germany

A

Netherlands
Switzerland

^ A "*A

16
11

Australia

12

France

A

United Kingdom

$9.30—Average wage rate

.Spain
Ireland
LOW-WAGE COUNTRIES WITH RISING EMPLOYMENT

LOW-WAGE COUNTRIES WITH FALLING EMPLOYMENT

A.
k

Portugal

Taiwan

South Africa

. Korea, Republic of

Colombia
Brazil
Argentina

A

Venezuela

Hong Kong

A.
Malaysia

Philippines
-16

-12

-4

A-

Singapore

Mexico

A
Thailand

0
Percent

4

Average annual change in employment, 1982-91
U.S. Deparlment of Commerce, Bureau of Economic Analysis

A

12

16

SURVEY OF CURRENT BUSINESS

July 1993

This shift in the location of manufacturing
(particularly towards the Pacific Rim)
occurred mainly in the electronics industry. Because of the small size of most electronic components, the average per-unit cost of shipping
goods to the United States probably is relatively
low in this industry. For MNC'S in most other
manufacturing industries, per-unit shipping costs
may outweigh any potential savings in labor costs.
In addition, production of some electronic components may have been shifted abroad because
these products were in a maturing stage of the

product cycle. In the early stages of a product
cycle, the location of production may be largely
determined by the need for access to technology
and for proximity to the primary market, both of
which are often best satisfied by U.S. parent production. Later, as the technology for producing
the good matures and as competitors enter the
market, cost becomes a relatively more important factor, and production of the good may be
shifted to foreign affiliates in low-wage countries.
Despite the growth of MOFA'S producing in
low-wage countries for the U.S. market, U.S.
parent companies have apparently substituted
imports for domestic production to only a small
Table 8.—Percentage of Sales to the United States degree. In 1982-89, the domestic content of U.S.
by Manufacturing MOFA's in, and Selected Characterisparents' output in manufacturing decreased from
tics of, Low-Wage Host Countries
96 percent to 93 percent.14 This decrease in
Sales by
domestic content was probably shared by other
manufacturing
MOFA
U.S. companies; the share of U.S. gross domesincome
MOFA's
Hosttic purchases of goods accounted for by U.S.
coumry
taxes as
to the
a perreal GDP
United
merchandise imports shipped to companies other
growth
States as
centage
a perof net
rate,
than U.S. parents rose from 10 percent in 1982 to
1982-91
income,
centage
1982-91
average
of their
13 percent in 1989.
total
average'
Overall, the growth of MOFA'S producing in
sales,
1991
low-wage countries for the U.S. market does not
appear to be associated with significant substiCountries with rising employment by
manufacturing MOFA's in 198?—91
24
5.3
35
tution of foreign for domestic employment by
30
8.3
Thailand
( )
9
53
6.8
Singapore
. . .
U.S. MNC'S. Although the domestic share of
9.7
24
39
Korea
47
19
.
28
Mexico
. ...
worldwide employment of U.S. MNC'S in man61
26
51
Malaysia
ufacturing decreased two percentage points in
11
6.6
23
Hona Kona
2.9
29
Portugal
(*)
1982-91, from 74 percent to 72 percent, this
Countries with falling employment by
decrease appears to be largely unrelated to pro8
manufacturing MOFA's in 1982-91
2.6
43
Brazil
.
2.8
47
7
duction by MOFA'S for the U.S. market. Instead,
10.5
17
20
Taiwan
.9
42
14
Philippines
much of it reflects downsizing by U.S. parents,
12
.
45
Venezuela
....
0
partly in response to a loss of market share
3.7
2
48
Colombia
1
.8
26
Argentina
to newer U.S. companies that have no foreign
47
1.0
South Africa
( )
affiliates.
* Less than 0.5 percent.
MOFA'S

2

D

D

D Suppressed to avoid disclosure of data of individual companies.
1. Based on BEA data on net income and income taxes of MOFA's. To minimize data
suppression, data in this column are for MOFA's in all industries rather than only for those in
manufacturing.
2. Host-country GDP data are from the following sources (in order of importance):
International Monetary Fund, International Financial Statistics Yearbook (1992 edition); Central
Intelligence Agency, Handbook of International Statistics (1983, 1991, and 1992 editions);
Organisation for Economic Co-operation and Development, Main Economic Indicators (October
1992 edition); U.S. Department of Commerce, International Trade Administration, Pacrirr.
Hotline, Key Economic Indicators for Malaysia.
NOTE—The countries shown in this table are only those that have a large presence of
manufacturing MOFA's. Specifically, they are countries where employment by manufacturing
MOFA's was at least 10,000 in 1989.
GDP Gross domestic product




Tables 9.1 through 13.2 follow. 62

14, Domestic content of output is calculated as the ratio of (1) U.S. parent
gross product (or value added) plus purchases from other U.S. residents to
(2) total U.S. parent output (sales plus inventory change).

It can also be

calculated as one minus the ratio of (1) U.S. merchandise imports shipped to
U.S. parents to (2) total U.S. parent output.

• 49

SURVEY OF CURRENT BUSINESS

50 • July 1993

Table 9.1—Selected Data for Nonbank U.S. Parents, by Industry of U.S. Parent, 1990
Millions of dollars
Sales
Total
assets

All industries
Petroleum
Oil and gas extraction
Crude petroleum extraction (no refining) and natural gas
Oil and gas field services
Petroleum and coal products
Integrated petroleum refining and extraction
Petroleum reiinmg without extraction
Petroleum and coal products, nee
Petroleum wholesale trade
Other
Manufacturing ....
Food and kindred products
Grain mill and bakery products
Beverages ...
Other
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap, cleaners, and toilet goods
Agricultural chemicals
Chemical products, nee
Primary and fabricated metals
Primary metal industries
Ferrous ...
Nonferrous
Fabricated metal products
Machinery, except electrical
Farm and garden machinery
Construction, mining, and materials handling machinery
Computer and office equipment
Other
Electric and electronic equipment
Household appliances
Household audio and video, and communications equipment
Electronic components and accessories
Electrical machinery, nee
Transportation equipment
Motor vehicles and equipment
Other
Other manufacturing
Tobacco products
Textile products and apparel
Lumber, wood, furniture, and fixtures
Paper and allied products
Printing and publishing
Rubber products
Miscellaneous plastics products
Glass products
Stone, clay, and other nonmetallic mineral products
Instruments and related products
Other

Net
income

Investment
income

Capital
expenditures

Research
and
development
expenditures

Employee
compensation

Total

Goods

4,951,048

3,243,721

2,282,448

826,737

134,536

134,229

213,079

64,636

688,545

18,429.7

477,585
20,927
16,769
4,159
411,424
327,947

396,361
7,438
4,475
2,963
346,907
316,776

372,464
4,962

23,049
2,425

20,569

33,205
3,389
3,120

2,422

28,925
1,743

598.4
37.2
11.8
25.5
509.4

Services

42,827
2,406

n

41,386

631

0

623

847
51
50
1
790
387
402
0
0
7

76

86

108
0

146

3.8

1,909,926

1,574,628

1,445,558

90,555

38,516

67,837

93,845

55,972

402,039

9,804.8

184,322
31,150
52,526
100,646
308,407
156,689
76,560
46,630
8,339
20,189
84,193
52,930
19,029
33,900
31,263
214,863

207,260
34,588
46,696
125,976
251,874
117,634
63,948
45,098
5,259
19,936
88,066
51,413
19,608
31,805
36,653
175,638
18,752
18,635
93,535
44,716
156,667
11,390
85,807
21,853
37,616
351,484
220,384
131,101
343,638
26,548
24,431
35,145
64,919
55,133
17,457
12,964
9,491
11,759
73.793
11,997

202,888

4,105

(D)
(D)

(D)
808

267
0

122,496
243,245
112,935
62,820
43,174

9,619
2,125
2,932
4,562
20,913
11,641
5,303
2,098

987
220
187
581

8,436
4,682
1,128
1,756

12,984
1,819
6,118
5,047
22,188
7,196
10,666
2,494

30,873
5,474
9,166
16,233
58,130
26,847
16,807
8,729
4,799
24,292
14,034
5,765
8,270
10,258
56,698
4,549
5,186
33,516
13,447
43.446
2,487
21,835
7,208
11,915
97,623
51,305
46,318
90,977
4,250
6,582
7.620
15,516
13,475
5,190
3,239
3,383
2,856
25,773
3,093

1,152.4
225.9
374.2
552.3
1,277.0
562.9
358.6
214.0
28.0
113.5
594.4
299.8
115.1
184.7
294.6
1,189.9
99.8
125.4
609.6
355.1
1,101.7
73.5
493.6
202.5
332.2
1.990.7
992.3
998.4
2,498.6
141.0
292.2
227.9
360.6
380.3
136.2
97.5
97.3
72.6
591.6
101.4

14,832
7,233
7,599

457.4
220.6
236.8

49,156
13,762
35,229

1,086.9
216.2
866.9

(D)

(")

21,052
127,327

(D)
241,110
10,843
165,852
26,885
37,530
451,003
341,306
109,697
426,028
54,059
19,368
39.459
72,723
77,459
19,279
12,519
13,288
16,190
89.278
12,405

n
n

(°)
(")

n
n

329,453
307,286

16,665
9,102

n
n

3,336

38,050

(")

n

85,435
49,954
19,368
30,586
35,481
151,531
17,410

n
(°)
132,766
74,326

(D)
65,633
21,440

n
n

n

n
n

2,573
1,411

232
1,179
1,162
22,751

1,356

n
n
18,402

n
n
806

n
n

3,519

1,093

n
(D)

284

572

1,549
2,851
1,717

1,299
4,783
3,246
1,118
2,128
1,537
11,422

189
1,528
1,134
9,042
1,000

733
6,423

2,243

1,307

21.8

2,275

48.0

14,252
5,581
6,828
1,124

70
648
882
535
109
426
347
14,058

366
404

n

12,256
1,033
6,490

0

887
6,051

7,939

n
n
404

362

297

108

3,960

4,025
2,076
1,541
17.326
11.942
5,383
21,843

3,448
1,913
1,021
12,476
7.858
4,619
6,827

237
75
118

(D)

172

(°)

63.726
43,035

1,193
11,938

(")

(D)

n

1,112

184
7,067

266

25,907
25,386

521
1,360

747
0
0

0

160
0
3
0
35
393
22

742
987
3,888
-666
4,554
10,833

946

797

-198
1,430
3,871
1,473
-468

1,156
2,010
6,505
2,939
1,223

462

898
473

152.
-488
3,151

1,006
4,286

501

550
6,393
3,988
2,405

1,188

70
514
167
169
151
3,886

251
571
445
126

208,605
88.890
119,715

201,164
83,404
117,761

5,786
4,489
1,298

1,655

2,481

998
657

793
1,688

1,599,998
462,426
1,130,067
5,353
2,152

396,364
66,838
327,761
1,765

15,613

294,355
39,902
252,837
1,617

86,395

10,885

60,868

n
n
0

10,401
-134

163

0

0

Services
Hotels and other lodging places
Business services
Advertising ..
Equipment rental (ex automotive and computers)
Computer and data processing services
Business services, nee
Automotive rental and leasing
Motion pictures, including television tape and film
Health services
Engineering, architectural, and surveying services
Management and public relations services
Other

141,518
15,996
40,583
6,736

113,093
11,218
34,260
3,706

6,727
-102
2,244

15,941
1,741
5,420

1,082

797

431

164
44

98
122

16,371
16,679
10,492
27,224
20,009
4,515
4,696
18,003

13,038
17,085
7,323
11,026
18,905
5,926
3,776
20,659

1,055

4,104
1,097
5,281

807

421

(*)
(*)
29
0

3,352

1,439

Other industries
Agriculture, forestry, and fishing
Mining
Metal mining
Nonmetallic minerals
Construction
Transportation .
Communication and public utilities
Retail trade

710,119
1,175
9,842
7,539
2,303
17,673
123,412
376,092
181,925

25,730

53,804

3,304

154

57
25

36
792

55
909
694
215
512

1,711
16,855
5,149

13,637
32,041
6,650

Finance (except banking), insurance, and real estate
Finance, except banking
Insurance
Real estate
Holding companies

° Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.




0

(")

14.056

(")
0

0

n
n

14,729

2,816

n
n
8,208

108
577
0
616

18,767
5,345
3,776
20,044

236
0
200
0
0
(D)
D
()
0
2
30
4
0
0

554,669

235,335

312,446

6,887

881

785

96

6,697
4,818
1.879
30,809
122,109
190,696
203,476

6,566

12,313

(D)

3,420

0
(D)
(D)

n
n

21,752
2.736
27,065
176,431

100,545

(")

30,640
3,706
D

()

n
n
n
9,000
n
163,022
n

fl
0

n
57
(°)
608
(")

454

982
82
361
247
530
14

1,070
1,034

9,890
1,760
8,043

87

1,326

218
94

1,070"
24,761

n

n

1,093
7,403

673

(D)
0

0
(D)
9
(D)

12,352
4,894
7,458
25,810
1,963

n

269
26,211
26,021

9,374

(D)

(D)

8,379
11,540
66,334
11,709

98
19,402
18,818

71
0
71

14,527

313,224
190,103
123,122
316,469
23,839
24,259

(")

n
(D)

193
\7
0
168
0
8
59
49
9
40
10

-2
-100

111,901
61,140
50,761

Wholesale trade .
Durable goods
Nondurable goods

Number
of employee
thousands

1,285

(")

n
0
n
n
1

908

n
0
n

(°)
n
n
n
3.003
24

n
n

948

n
(D)

158
6

3.6
.2

44,305
4,260
15,686
1,844

1,639.2
263.0
618.9
33.2

61

1.8

4,630
9,152
1,844
1,846
7,090
2,954
1,514
9,110

112.6
471 2
66.8
49.9
275.7
68.9
20.8
275.2

149,287

4,843.0

195

7.0

1,494
1,000

33.2
22.4
10.8
224.7
1,070.0
1,222.5
2,285.6

494
7,861
45,094
58,578
36,064

July 1993 •

SURVEY OF CURRENT BUSINESS

51

Table 9.2. —Selected Data for Nonbank U.S. Parents, by Industry of U.S. Parent, 1991
Millions of dollars
Mi imhor
INUiTiD"!

Sales
Total
assets

All industries
Petroleum
Oil and gas extraction
Crude petroleum extraction (no refining) and natural gas
Oil and gas field services
Petroleum and coal products
Integrated petroleum refining and extraction
Petroleum refining without extraction
Petroleum and coal products, nee
Petroleum wholesale trade
Other

Investment
income

3,274,002

2,245,311

885,691

142,999

91,959

208,538

67,457

706,759

18,010.7

394,778
20,001
15,539
4,462
329,178
324,649

347,480
6,467
3,420
3,047
298,405
291,358

331,552
3,998

15,675
2,439

253
31
31

13,892
-187
-289

33,043
1,889
1,318

2,549

29,139
1,731

574.5
36.2
10.4
25.8
484.7
469.0

n
D
()

n
(D)

(°)
()

288,409
281,744

n
(D)

39,146

(D)
(D)
9,782
9,400

(D)
(D)

101

572

214
214
0
0
1
7

11,963
11,615

27,393
27,079

71

83

41,814

36,803
13,240
2,346
7,509
3,385
22,044
4,826
12,376
3,079

n

664

0

657

1,574,192
198,939
36,120
85,209
77,610

1,431,793
196,550

100,584
2,108

n

1,203

( )

(D)

334,338
169,117
87,958
49,220
8,089
19,954

265,313
121,294
70,566
47,620
5,224
20,609

254,925
114,471
69,216
45,948

10,196
6,808
1,349
1,498

(D)
(D)

83,595
53,437
17,646
35,791
30,157

86,097
50,068
18,291
31,777
36,029

n
n
83,244

Machinery, except electrical
Farm and garden machinery
Construction, mining, and materials handling machinery
Computer and office equipment
Other

206,149
24,031
20,891
118,289
42,938

170,232
19,376
17,935
88,923
43,997

144,810
17,909
17,039
68,833
41,029

23,487

o
1,935

(D)
631

(D)
265

18,749

1,342

(D)

Electric and electronic equipment
Household appliances
Household audio and video, and communications equipment
Electronic components and accessories
Electrical machinery, nee

251,457
11,525
176,199
25,105
38,628

152,482
11,391
83,013
20,299
37,779

125,038
11,391
59,377

13,915

n
13,529

0

0

Transportation equipment
Motor vehicles and equipment
Other ..

455,844
342,465
113,379

342,105
204,504
137,601

Other manufacturing
Tobacco products
Textile products and apparel
Lumber, wood, furniture, and fixtures
Paper and allied products
Printing and publishing
Rubber products
Miscellaneous plastics products
Glass products
Stone, clay, and other nonmetallic mineral products
Instruments and related products
Other

459,456
54,362
20,984
20,538
93,502
77,497
20,615
11,862
12,825
18,250
116,418
12,604

83,729
D

48,665
18,175
30,490
34,578

2,798

(D)

2,805
1,354

n
n

1,451

n
n
300,756

n
n
n
17,518

171,524
129,233

9,721
7,796

359,023
27,806
24,736
22,498
73,107
55,705
18,657
12,016
9,473
11,877
89,982
13,167

326,470
25,689
24,531

30,555
1,387

184,424
134,995
49,428

236,575
116,562
120,013

221,995
103,851
118,144

9,448
8,236
1,212

1,719,342
494,181
1,217,416
5,487
2,258

411,130
67,650
341,866
1,614

12,215
1,938
10,278

310,407
41,444
267,475
1,488

Services
Hotels and other lodging places
Business services
Advertising
Equipment rental (ex automotive and computers)
Computer and data processing services
Business services, nee
Automotive rental and leasing
Motion pictures, including television tape and film
Health services ...
Engineering, architectural, and surveying services
Management and public relations services
Other

152,164
17,633
42,354
6,420

120,676
11,864
35,601
3,718

828

407

18,103
17,003
10,325
41,213
19,943
5,272
4,610
10,813

14,589
16,886
7,202
19,922
19,085
7,405
3,947
15,649

1,508
2,048

0
514

15,900
19,014
6,441
3,944
15,135

Other industries
Agriculture, forestry, and fishing
Mining
Metal mining ....
Nonmetallic minerals
Construction
Transportation
Communication and public utilities

754,014
1,162
9,032
6,628
2,404
18,742
124,665
407,094
193,320

583,949

Wholesale trade ....
Durable goods ....
Nondurable goods
Finance (except banking), insurance, and real estate
Finance, except banking
Insurance
Real estate
Holding companies

Retailtrade

D

Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.




of employees
(thousands)

5,177,348

Services

1,972,626
181,787
32,653
94,130
55,004

Primary and fabricated metals
Primary metal industries
Ferrous
Nonferrous .
Fabricated metal products

Employee
compensation

Goods

41,945

Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap, cleaners, and toilet goods
Agricultural chemicals
Chemical products, nee

income

Capital
expenditures

Total

43,111
2,487

Manufacturing
Food and kindred products
Grain mill and bakery products
Beverages
Other

Net

Research
and development
expenditures

0

(D)

205
(D)

70,992
44,403

2,073
11,114

(D)
(D)

(D)

8,385
11,723
75,760
12,837

0
0

n

1,088

127
13,235

305

0

14,040

106,375

3,666

31,727
3,718

0
110
(D)
4,005

41
964

297
13,044
14,668

n

233,714

343,203

859

763

5,763
3,678
2,085
29,945
115,760
225,615
206,006

5,587
3,571
2,016
21,019
2,800
26.852
176,693

96
167
107
60
8,820

(D)
198,416

(D)

281
0
277
4
191
15
0
174
0
2
48
48
(D)
(D)

(D)
(/
2,046

157

n
n

62
0
62
2,354

0

n

610
1,121
24,644
24,127

n
(D)

n
n

132
0

2,590

174

3.9

87,789
9,605
2,265
4,069
3,272

58,918
1,086

267
526
293

410,919
31,450
5,597
14,327
11,526

9,537.8
1,144.9
232.2
493.3
419.4

21,215
10,803
5,935
2,505

14,917
5,188
7,798
1,113

60,836
27,231
18.233
9,394

852

5,010

1,246.3
531.7
359.5
211.9
27.9
115.3

24,252
14,086
5.595
8,491
10,166

567.6
289.5
109.9
179.5
278.1

57,327
5,314
5,070
33,049
13,894

1,120.6
110.7
115.5
538.7
355.8
995.9
77.1
421.0
188.0
309.9

3,678

968

49.7

1,605

1,120

978
224

4,321
2,896

-300

889

523
755

2,007
1,424

81
737
905
570
108
462
335

-5,829
-716
-184
-4,119
-811

9,792

13,442

n
990

392
425

6,023

11,642

4,880

n
7,170

6,244

285

450

115

R

2,969

3,227
1,946

0

1,027

3,343
1,941
1,436

955

40,833
2,421
19.616
7,280
11,516

23,831
23,259

-4,960
-7,386
2,425

16,467
10,997
5,470

14,111
9,067
5,044

97,822
51,069
46,753

1,903.9
933.1
970.8

6,451
2,016

19,219

8,214

749
830

237
97
90

98,398
4,279
6,751
5,643
17,757
14,212
5,587
2,928
3,277
3,122
31,379
3,464

2,558.7
139.9
293.3
166.1
402.5
380.5
139.3
88.4
85.9
74.3
678.2
110.3

16,837
9,027
7,810

475.2
236.6
238.6

50,467
15,466
34,848

1,014.9
207.7
803.6

148
6

3.5
.2

46,078
4,303
16,115
1,933

1,663.5
259.8
629.2
32.2

572
1,998

729
0
0
42
188
0
0
0
27
987
25

600

825
33
2,012
1,370
-869

1.002
5,991
2.653

983

1,195

-219
-1,220
1,979

990
854
610
735

77
531
174
161
153

4,258

5,281

-69

545

5,132
4,475

2,210

657

1.567

6,236
4,075
2,161

88,508
24,268
64,113

17,445
3,729
13,664

10,121
1,899
8,032

219
793
454
339
197

126
0
261
2
208
0
0
38
170
0
17
29
0

-58
109

190

!?
0

0

0

4,544

15,207

1,435

593

643

(

95

867

2

1,448

5,252

1,342

43
29
579
797
34

4,226

73
45

(D)
1
1,239

74

1.6
120.7
474.7
67.1
109.0
274.1
74.1
21.1
229.1
4,744.8

226

n
0
n
n
10

4
0

55
2,414

99
777

0
80

5,399
8,709
1,860
4,220
7224
3,339
1,564
7,453

7,031

17,065

56,143

3,566

153,319

105
211
264
-53
765

51
857
727
130
671

59
24
(D)

199

6.8

1,478

-648
11,177
5,454

14,978
32,799
6,787

31.6
19.6
12.0
207.5
1,040.5
1.234.7
2,223.7

o
9
0
9
106
(D)
347

n

-101

491
109

908
5,313
1,468
1,204

n
n
n

3,275

14

955
523
8,088
44,767
62,066
36,721

SURVEY OF CURRENT BUSINESS

52 • July 1993

Table 10.—Selected Data for Nonbank Foreign Affiliates, by Country and by Major Industry, 1990 and 1991
1990

1991

Millions of dollars

Millions of dollars
Mi imhflr

Mnmhor

Total
assets

All countries, all industries

Sales

Net
income

U.S.
exports
shipped
to affiliates

U.S.
imports
shipped
by affiliates

Employee compensation

iMumuer
of employees
(thousands)

Total
assets

Net
income

Sales

U.S.
exports
shipped
to affiliates

U.S.
imports
shipped
by affiliates

Employee compensalon

rNurnusr
of employees
(thousands)

1,559,038

1,493,426

84,558

106,426

102,150

184,809

6,833.9

1,690,161

1,543,450

77,096

115,258

102,795

196,979

Canada

198,581

189,402

5,415

38,109

41,131

29,237

931.9

203,493

188,083

3,171

40,773

41,756

29,732

911.6

Europe

839,149

809,933

49,131

32,804

15,762

106,535

2,904.3

919,186

840,349

44,986

35,245

15,409

114,066

2,973.3

6,971
41,173
5,372
2,090
78,371

9.355
39.231
5,566
3,555
102,242

(°)

27.0
128.6
19.9
8.7
419.7

6,698
42,469
5,891
1,739
82,952

8,357
39,138
5,676
3,079
103,282

n

1,046
5,772
915
431
17,904

24.0
124.7
20.5
439.3

Germany
Greece
Ireland
Italy
Luxembourg
Netherlands

126,164
1,161
14,620
50,395
3,000
89,628

165,436
2,467
13,560
59,539
1,808
72,975

592.8

140,062
1,416
16,148
53.321
3,466
100,513

181,598
2,928
14,229
62,859
1,869
77,526

6,854
64
3,594
2,694

28

2.527
10

1,014
2.006

602

28,420
267
1,199
9.113

614.2
11.9
43.0
209.6

285

194

8,084

4,487

n

5.795

n

144.2

Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

11,936
2,907
29,420
7,263
49,801
1,926
315,562
1,389'

10,867
4,442
33,943
12,386
53,239
3,484
214,493
1,345

11,653
3,365
30,217
9,930
48,170
2,271
356,489
2.413

10,767
4,877
36,404
12,655
58.046
3,916
211,315
1,829

1,180

156
114
1,141

917
41

1,220

177,863

129,234

189,490

130,257

Austria
Belgium
Denmark
Finland
France
l

Latin America and Other Western Hemisphere

431

246

2,523

2,504

217
125

157
147
4,178

1,907

1,120
5,532
867
412
17,280

6,713
30
3,739
2,844

5,934

2,549

26,035

233

188

9,018

4,240

1,019
261
2,494

124
146
1,050

39

613

5,291
106
10,392

2,146
234
7,741

3,582

826
77
(*)

30

(D)

1,212
1,884

n
632

n

45.4
197.8

( )
(D)

334

7.3

5,526

143.3

71

1,207

27.6

D

16
431

(D)

74

30

17

156

11,011

13,357

12,572

14,602

1,335.1

1,945

2,792

309

(°)

9,739

-12

116

950

1,460
194

1,139

2,010
114
443
108

6.963
318

( )

346
(D)
6,047

5,461
2,344
2,922
301
26,760

52,901
5568
31,557
4,471
4,279

64,372
5596
44,385
2,392
4,529

632

961

1,441
4,206

-333
171

747

1,199
3.725
1,585

103

158
244
108
52
604
179

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

37,198

36,973

3,426

9,365

8,240

560
390
564

659
692
914

37
41

120
138
121

66
18
70

25,437
9,852

32,311
1,778

2,244
1.055

8,662

8,046

3,817

283
42

39
(*)

1,199
453
117
201
87
218
13

n
n
4
n
52
n
3

166
23
589

3

395

619

46

27,889
1,391

5,640
247

n

(°)

Africa
Egypt ..
Nigeria
South Africa
Other ..

17,557
3,146
3,487
2,674
8.250

Middle East
Israel...
Saudi Arabia
United Arab Emirates
Other ..

926

182

18,048

2,620

n

1,308
2,515

977
973

(°)
16,739

n

194
1,387
111

666

(°)

1,078

39
17
55
624

60
79

n

D

( )

n
87

455
55
384

.,

166
21

95
78
93

16
58
23

2,514

940
708

2

117

17

(»)

739
516
(»)

7,170

1,281

33

1

218,688
578 611
57.172
120.897
27.695
88,257
61.615
114.117
108,858
129.671
499.224
53.095
79.749

295,780
741,169
75,958
128.721
28.481
122139
73.502
189.513
122.854
244 535
67,198
49.386
95.357

14,290
36,322
4,445
9,283
1,347
7,758
3.083
3.762
6,642
8455
19.249
3,137
3,106

2,803
70,758
1.650
8.850
1,725
11,445
9.195
28.722
9,172
30 940
24

11,844
81,061
1,297
4,601
1,967
13,284
10,850
39.740
9,323
7 396

896

3.4

360

711

46.9

91,059
4,128
1,253
48,187

28,029
1,337
1,366
17,386
(l>)
1,199
2,232

8.2
1.5
2.7
18.7

8.9
.5
2.8
1.5

38

2.1

1,086
102

120.8
13.0

31,382
7,907
124
1,141

2 021

117
391
129

84

38
(*)
(D)

28,636
1,749
3
3,696

(°)
13,152

vjmyapvic

Taiwan
Thailand
Other

309
(D)
42
873

1,476

9,508

21,097
2,893
217
1,987

410
6,553
1,482

1,301
211

( )
73

10,831

14,703
2,939

324

432

2,958

327,537
59,129
1.409
19,223
1,765
7,624
164,969
12,206
7,045

n

635.4
58 5
394.8
24.6
41.3

3 417

343
516
152
321
47
-9

38,394
1,897

292,566
53,095
2,103
16,653
1,388
7,983
155,238
12,464
6,613

4,177
27,544
9,478
7,626

1,338.8

9.445
1263
6,129

1,794

28,772
12.032

29

n

15,233

D

55
20
89

433

3,316
13261
7,937
5,215

13,804

98
131
143

1,203

33

216

15,867

n

691
384
(D)
(D)
(D)

198

40

10,477

n

11.558

1.034

850
702

5.864

(D)

(°)

36
39
-4

205
402

361
512
(D)
279

8,232

60

5
457

4,001

1,939
311
1,027
174
427

16
825

521

673

723
793
859

13,411
3,008
5,499
2,379
2,525

10,542
810
1,603

2,339

221

43,378

55
102

59
492
571
389
86
157

166
432
16,777
1,141

430
398
378
1,058

974
334
121
763

n

2,117
26,499
1,188
5,509

(°)

953
1.147

(°)

362

62

924
49

311

4,682

892

54
248

217
94
124

2.222

(D)

164

985
123
656

n

44

96
(D)
13

n
17
90

16,579
2,705
2,953
2.703
8,217

16,759
2,375
2,943
4.269
7,172

1,236

522

326
682
228

108
42

20,277
3,745
10,962
2,531
3,038

15,206
3,200
6,169
2,968
2,869

1,781

344,922
57,136
1,549
21.585
1,743
8,090
176,096
12,846
7,730

14,348
1.856

71.3
17.7
97.9
86.9
64.3
64.4
13.1

327,394
55,812
1,926
17,934
1,276
9,708
175,442
13,709
7.497
7,273
3,651
15,093
9,103
6.099
2,870

(D)

838
535
(»)

28.0

13,742

7,876

1,097

235.7
4,332.9
452.2
583.1
231.6
571.1
712.6
869.1
913.3
547 2
166.2
490.0
1.061.9

224,763
606 473
61,662
125,267
26,804
94.308
68,193
116.591
113,649
134 669
566.574
64,410
93.272

303,019
760,216
81,797
134,299
26,718
120,691
78,853
192,974
124,884
245,713
73,066
53,819
107.617

16,273
29,466
4,919
8,443

7.6
40.6
59.5
49.8
25.8
16.8

2.6
4.6
1,464.0
388.2
21.3
82.4
38.8
42.7
402.4

111

D

( )

4,515
28,836
9,837
8,399

n

1,989
-345
4,707
110
9,161

850
430
550

59

42

1.328
6,060

8.3

27.3
(D)
160.4
48.5
57.7
20.7
958.5
28.3

852

66

142
9,462

14.0
63.0

(D)

42,993

166

64

982

1,851

7.5

188

1,683
3,729

600

6,755

631.4
20.0
11.6
23.6
553.1
19.8

208
139

5

9.2

81
4,515

115

453
278

1.620

58849
7 029
35,196
2.663
4,566

3,236

666
78
2

4,273
110

2,512
3.128
4.159
6,940

77

55438
5809
31,433
5.118
4,238

196

67
(D)
9,711

3,356
42
2,221

104
192

6569
57 7
442.9
22.4
40.0

245
2,792

208
32

1,457
5,319
1,636

498

20,170
4,017
10,661
2,550
2,941

Asia and Pacific
Australia
China ..
Hong Kong
India ....
Indonesia
Japan ..
Korea, Republic of
Malaysia
New Zealand
Philippines
Sinaaoore

International

345
17

87,764
4,663
911
44,532
1,904
26,665
1,505
5,746

n

156.7
60.8
55.4
20.6
937.3
19.5

I}

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

i°)

1,143
8,472

410
2,443

6,898.1

n

303
1,078

177
223

197
176
506
122
184
104

96
22,310
3,106

5,952
2.202
3,417
351
29,030

342
482
62
290
755
121
5,181
124

52
103
4,709

171
22

39
63

92
97

n
3

87

( )
(D)

51
31
52

2.0
2.1

1,964
17
1,085

1,120
91
69
518
443

122.7
14.0
10.1
39.7
59.0

689

1,332

50.3
28.5
13.5

D

n

3,094

28

22

416

618

n
n
n
28,042

459
152
104

1,392

292

7

2,022

3,940

34,749
7,986
135
1,224

61

50

20

1,676
4,101

131
9,764
1.024

1,193
10,092

703

1,821

503

191

34
323
(D)

1.075

(°)

210

1,808

2,671
1,096

912
138
35

3.4
47.6

n
4

97

331

6.7
655.7
22.3
10.8
22.8
577.3
19.2

608
161
17

1.730

164
703

9.8
12.9
86.7

523

1,065
1,057
15
1

156
501
18,573
1,382

402
1,208
1,036

438
130
745

8.2
1.3
2.6
19.7
8.5

.7
2.5

3.7
4.5
1,473.0
370.6
22.3
80.4
39.9
42.9
412.7
72.5
78.3
31.8
88.3
88.0
61.3
72.0
12.1
28.4

3y major industry
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery except electrical
Electric and electronic equipment .
Transportation equipment
Other
Wholesale trade
Finance (except banking), insurance, and real estate

Services
Other industries

513

3
118

1.386

1,727

* Less than $500,000 (±).
D Suppressed to avoid disclosure of data of individual companies.
1. Beginning in 1990, the data for Germany include data for the former German Democratic Republic (GDR),
which reunited with the Federal Republic of Germany in October 1990. this change does not affect the comparability




9.994
117.353
8.964
17,604
5.345
20,481
15,743
26.142
23.074
21.917
7.075
13.572
14.898

827
4,549
3,025
2,246
5.456
7 710
17,999
2.536
3.113

3.018
78,045
2,052
9,018
1,952
13.133
9,788
31,519
10.584
31 951

11,706
80,590
1.253
4.663
1,790
13.826
11,349
38.741
8,969
8 824

39
594
1.611

1,561

7
106

10,520
123,226
10.120
19,072
5.246
20.921
16.885
26.707
24.275
23 673
7.131
15.212
17,217

231.4
4,270.4
463.9
591.5
211.0
532.6
743.4
840.8
887.2
559 7
154,8
536.8
1,145.0

of the 1990 data with the data for earlier years, because there were no affiliates of U.S. companies in the former
GDR before 1990.
2. See footnote 1 to table 3.

SURVEY OF CURRENT BUSINESS

July 1993 •

53

Table 11.1. —Selected Data for Majority-Ownec Nonbank Foreign Affiliates, by Country and by Majoir Industry, 199C)
I
Millions of dollars

ReSales
Total
assets

Investment
income

Net
income

search
and development expenditures

U.S.
exports
shipped
to
MOFA's

U.S.
imports
shipped

Employee
compensation

Number
of employees
(thousands)

Total

Latin America and Other Western Hemisphere

73,254

10,187

100,232

88,641

151,051

4,633

5,350

1,159

36,994

40,085

27,696

881.8

712,353

627,265

73,607

11,480

43,714

7,952

32,034

14,328

92,553

2,534.2

7,012
36,513
5,179
3,312
89,855

6,200
32,907
4,139
2,845
80,672

(°)

868
4,814

19.7
113.2
17.0

132,613
2,404
13,384
54,105
1,716
57,235

122,126
2,233
12,828
48,770
1,637
47,810

10,583
2,432
23,269
5,976
48,642
1,199
299,945
1,133

Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

23,527

18,746

104,133
1,102
14,546
42,454
2,603
71,342

.

133,339

155,311

4,434
35,655
4,916
1,888
63,599

.

1,051,484

178,690

739,851

Germany'
Greece
Ireland
Italy
Luxembourg
Netherlands

1,208,349

186,778

Austria
Belgium
Denmark
Finland
France

Services

1,275,048

AH countries, all industries

Canada
Europe

Goods

9,451
4,140
28,349
9,316
52,187
2,603
201,966
1,014

8,798
3,765
25,922
7,949
48,657
2,326
166,766

768

44

388

44

243

284
70
36
213

2,226

2,463
152
146
3,996

1,782

14,363

351.4

5,862

2,423

717
589

23,115
231
1,108
7,594

529.7
10.9
43.0
176.2

327

7.0

4,229

807

4,879

126.7

120
145
971
606

855
402

410
141

19.5
23.3
124.0
29.7
48.8

2,934

388
(D)
3
882

1,397
16

5,676

2,561

28
3,738
2,505

45

34
376
34

8,194

1,231

7,082

3
539
476
(D)
459

970
431
8,970
9,090

155
522
4,959

220
116

209

21
4

74

103
130
76
3

9,781

2,221

7,618

9
201
145

26

277
28,243

6,957

915

96

3

55

307
5,186

150,038

102,969

87,450

10,335

5,183

9,593

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

41,237
4,480
24,563
3,361
3,910

53,755
4,595
36,643
2,209
4,195

49,675
4,006
34,104
1,957
3,921

3,186

894
142
613
68
68

1,583

519

752

688

1,396
2,361

646

1,151
2,669
1,541

1,108
2,371
1,519

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

25,459

23,741

22,700

500
362
553

572
627
904

557
615

13,957
9,691

19,307
1,711

395

619

606

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

83,342
4,621

25,473
1,370

15,076
928

898

898

42,228

16,684

1,926
184

205
62
43
298
21

927
14

13
11

678
199
12

174
1,119
150
310

14
113

0

11
-335

1
1

54
99

114
1

2,568

n
(*)
11
n
55

1

0
2
106
3

29
32
3

3
4

1

8

1,414
1,043

53

772

1,080

1,827
114

5,472

506.6
47.5
334.3
19.9
35.8

143
232
102
52
508
177

7,409

85
137

65
18
70

121
7,462

390
351

52
22

251
177

0

10,467

4,477

2,524

(D)
46
187
75

1,739
0

453
(D)
201
85

n
0

218
13

0

30
17
3

936

3

145
174
1,381

16

120

167

651

1

0
31
0

18
990

0
13

426

642

556
13,799
2,332
3,078
3,047
5,343

414
(D)
13,099
2,109
2,993
3.008
4,990

322

31

151

9,472
2,225
1,862
2,504
2,881

6,729
1,377
592
2,318
2,442

5,433
965
165
2,117
2,186

1,234
386
428

63

926

27

127
216

169

32

166

n
0

252

4

416

2

163,201
39,670
925
15,792
339
7,626
61,410
2,809
5,722
2,672
2,512
12,542
6,014
4,189

187,934
40,696
775
17,960

22,872
4,293
135
3,264

2,138

11,533
2,229
-9
1,519
4
1,697
2,088
137

846

521
29
222

6

978

7,459
61,914
3,048
6,753
3,113
3,292
27,066
7,648
6,690
1,188

162,925
35,640
639
14,467
303
7,201
50,269
2,642
6,417
2,637
3,027
25,772
6,676
6,139
1,095

11,114

5,875

0

5,875

170,063
441,344
44,584
95,075
21,847
81.388
35.852
72,334
90,265
121,535
444,364
44,653
53,088

238,321
581,301
61,593
108,034
23,410
114,238
45.611
123,726
104,689
226,992
58,156
42,611
60,969

228,393
561,664
61,131
107,716
23,343

9,767
18,345
63
318

355
(D)

669
223
85
39

27
258
10,917
382
299
433
224
1,254

802
497
87

0

0

0

764
1
228

0
0

728
24
38
43
41

40
170
54
5
0

276
137

1,982

621
471
22
1,149

o
1
10
1

429
108
60
(D)
(D)

8,131

524

14,594
2,944
3,138
1,814
6,698

2

992.4

7,833

116

42

784

330

11,305

286

283

5,564

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other

n

1,184

2,176

C)

570
148

65
156
201

7,217

39

n

n
n

87

3,351
42
(D)

59

n

19,021
1,474
1
3,597

4

18,497
2,832
99
1,970
17
138
7,514
536
691
198

6
54
37

297

395

2,505
884

6,553
1,424

700
117
33

885
(D)

2,726
65,727
1.472
8,005
1,491
10.996
8.668
26,791
8.304
30,063

11,665
68,348
1,241
3,829
1,795
12.831
10.466
29.795
8,391
7,170

4

o
(*)

50
101
2,526
164

23
16
92
62
69
9
46

(D)

3

2,966
102

4
(D)
52
(D)
3

70
28

3
512
9

351
110

506
161

485

197
(*)
11

284
421
45
378

1,203
(D)

211
95
19

16
14

11.9
858.1
16.6

2,758

1

36
692

127

11,370

n

(D)

4,340
1,342
2,634
180
24,244

7.5

2,579

0

1,055

763
368

11,894

46

990

Middle East
Israel
Saudi Arabia
United Arab Emirates
Cther

346

5,442

742

16

19
5,931

1

1,104
2.399

64

36

4,176

0
(*)
0

('•*)

2,132

6,222

715

Africa
Egypt
Nigeria
South Africa
Other

international

447

825
75
(*)

188

982
234

15
377
80
301
0

2,050
1,287
3,229

30
1,210
1,862

1,975

11

360

1,723
25,962

5,356.0

3,322

642

891
18,523
1,508

MOFA's

265
1
( )

n

825
1,857
351
1,603
33

o

6.9
13.3
42.0

6.7
446.2
18.2
10.2
23.5
371.4
19.5
3.4
39.6

7.9
1.3
2.7
14.6

7.2
.4

2.2

22
28

1.5
1.9

759

76.9

87
54

9.4
6.2

309
309
687

21.5
39.9

347
112
80
148
17,506
5,317
82
922
42
411
7,121
450
411

357
259
1,019
795
241

78
546

28.2
15.1
7.1

2.0
4.0
819.7
196.7
13.6
59.5
10.4
38.4
141.6
26;,
67.7
16.3
65.5
80.6
50.9
41.3
10.7
22.9

By major industry
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other ..
Wholesale trade
-inance (except banking), insurance, and real estate
Services...
Other industries
* Less than $500,000.
D Suppressed to avoid disclosure of data of individual companies.




n
122,697
103.276
210,432

97
1,894
49,003

63

(°)

1,029
1,414
16,144
36,561
40,557
11,966

1. See footnote 1 to table 10.
2. See footnote 1 to table 3.

161
1,292
399
0
4

887
2
0
0
416
21,498

160
0

11,546
31,141
3,787
7,479
1,083
7,498
1,708
3,817
5,769
8,101
17,433
3,021
2,013

160
8,468
227
2,130

78
2,301
724
2,117

890
732
9
786
31

24
476
1,217

3
107
1,346

7,895
93,937
7,154
15,490
4,621
18,961
8.756
19,082
19.873
20,605
5.657
11,914
11,043

190.8
3,376.9
327.8
489.9
184.4
513.6
498.6
597.7
765.0
508.8
126.0
420.9
732.6

SURVEY OF CURRENT BUSINESS

54 • My 1993

Table 11.2. —Selected Data for Majority-Owned Nonbank Foreign Affiliates, by Country and by Major Industry, 1991
Millions of dollars

ReSales
Total
assets
Total

All countries, all Industries

Goods

Services

Investment
income

Net
income

search
and development expenditures

U.S.
exports
shipped
to
MOFA's

U.S.
imports
shipped

Employee
compensation

Number
of employees
(thousands)

MOFA's

1,384,572

1,240,880

1,068,258

145,980

26,642

65,937

9,358

108,787

90,479

160,385

Canada

192,007

176,996

152,673

19,159

5,164

3,268

1,037

39,522

40,625

28,127

86T.6

Europe

801,618

733,584

640,147

79,506

13,932

39,629

7,109

34,318

14,349

98,800

2,5672

4,752
36,937
5,415
1,548
66,320

7,422
36,210
5,300
2,852
90,126

6,514
32,134
4,150
2,380
80,048

851

398

18
383

237

n

19.5
106.0
18.3

2,593

-1
871

190
80

(D)
666
75
2

864

2,730

9,746

56
321
65
36
331

4,294

1,667

14,728

355.8

Germany
Greece
Ireland
Italy
Luxembourg
Netherlands

114,416
1,352
16,070
42,046
2,742
80,521

143,528
2,789
14,067
56,218
1,785
59,876

131,008
2,584
13,496
50,278
1,698
50,413

10,459

2,062

5,823

2,503

6,636

2,473

24,661

185
516

58

7,759

1,705

5,855

Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

10,274
2,869
25,205
7,277
46,994
1,552
333,406
1,921

9,275
4,698
30,928
9,188
56,977
2.963
197,854
1,526

8,552
4,231
28,177
7,718
52,861
2,733
159,744
1,427

710
436

230

13
31
399
80
304
0

64

3
573
327
(D)
477
15
6
100
83
91
5

27

3,589
2,346

50

21
55
439
38

30,137

7,973

8,572

1,612

n

(D)
997
539
(D)
909
35
5
415
123
519
26

530.3
10.8
41.5
178.1

8,101

5,700

96

3

30

(D)

(D)

159,307

102,090

86,525

11,044

4,521

8,885

14,380

12,832

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

41,316
4,596
23,736
3,920
3,864

46,619
5,651
27,022
2,476
4,244

43,078
5,087
25,086
2,221
3,973

3,115

1,474

3,135

2,290

380

73

1,213

1,400

7,300
1,054
4,602

720

652

1,290
2,720

1,360
3,173
1,526

207
299
89
42
768
138

117
391
129
84

707

1,409
3,528
1,569

218
210
68
48
352
40

474.7
47.4
297.0
23.0
37.1

482

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

30,799

29,542

28,352

1,067

8,907

n
n

3,660

680
733
849

670
724
838

98
131
143

55
20
89

120
47
103

16,998
11,683

24,815
1,754

23,832
1,588

9,651

8,704

3,206

711

701

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

87,191
4,050
1,248
46,201

25,928
1,312
1,353
16,328

15,095

6,862

3,971

n
o
2
n
0

310
44
869
217
(D)
124
94
183
13
44
14

38

360

10
10
9
869
161
10

66
1
(')
(*)
64

10,376

819
401
539

426
40
281
37
60
0
1
3
4
123
0
0
2
114
5
1

3
253
185
15
149
3
4

163
22
508
156
17
90
74
64
11
39
20
37
783
79
63
326
315
767
382
147
145
93

Austria
Belgium
Denmark
Finland
France

Latin America and Other Western Hemisphere

3,756
1,086

435

5,500

2,352
1,390
3,813

524
1,655

181
4,600

321
405
175
285
-6
-9
247
56
2,938

35
31
-4
1,919

908
49
4,473

39
51

51
245

1,703

2,169

n

(D)
44
167
(D)
266
52
655
179
117
35
323

0
3

149
146
976
124
609
4

871
1,044
2,115

844
997

485

888

1,064

1,012

13,685
2,500
2,744
1,816
6,624

13,513
2,155
2,833
3,079
5,447

12,830
1,976
2,715
3,043
5,095

9,326
1,904
2,049
2,482
2,892

7,849
1,586

6,335
1,164

706

88

2,896
2,661

2,674
2,410

392
618
195
246

196,812
41,601
1,188
17,004

200,461
38,126

169,748
32,863

27,779
4,600

993

861

130

19,840

997
36

n

1,450

1,911

17
247
0
29
0
0
0
29
63
31
0
27
5
2,934

16,031

3,531

287

307

284

9,287
81,883
3,397
6,620
5,432
2,771
14,214
6,955
4,871
1,301

7,891
69,550
3,494
7,415
4,401
3,616
28,294
7,890
7,465
1,177

7,650
54 924
3,009
7,012
2,617
3,357
26,653
6,653
6,753
1,079

23
240

663
3
111
0
1

13134

1 492

432
358

11,818

International1

196

380
697

5,243

-

1,115
1,523

4,890

940

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other

284

893
605

838

Middle East
Israel
Saudi Arabia
United Arab Emirates
Other

188
33

9,735

1,983
25,800

Africa
Egypt
Nigeria
South Africa
Other

2,183

6,387

0

6,387

53
45
34
38
48
193
81
6
0

172,053
459,451
49,184
98,677
21.555
87,273
37,222
73,319
92.220
125.946
511,442
53,139
62.541

238,336
595,686
67,968
113,182
22,053
112,724
47,504
127,545
104,710
227,485
65,896
45,651
67,825

228,121
575,320
67,914
112.825
21.959

10,157
19,233

1,132

49
357
92

5
0
2

n
n
126.653

n
n
892

1,125

102,999
209,469

1,712
17,561
40,954
43,096
14,980

1,750

221
1,593
1 044

632
92

1,227

294
679
160
94
882
159
316
168
240
11,127
1,144

24
1,664

3
1,678
2 285

91
692
322
279
1,757

709
480

o

918

O
1
13

n

1
0
1
0
0

0

0
15
1
(*)
12
2
30
27
0
(*)
3
914
144
1
9
3
4
595
10
7
4
8
87
37
5

o
o

1,013
1,979

194
4,480

144
113
1,058

636
2,317

n

485
81
41
191
172
309
114
13
86
96
19,739
3,072

n
n
4

1,635

39
63
(D)
3
(D)

n
n

3,088

28
1,964

17
1,080

505
301
1

n
n
19,080
1,172

109

1

2,005

3,766

22
124
8,037

688
678
190
195
2,642

941
898
138
34

n

1,193
1 936

269
1,821

5,009

806
374
233
1,178
7,963

7.1

286

5.6

5,235

130.1

864
485

172

18.8
24.0
126.6
31.4
49.7
12.9
878.6
22.1

11,468

995.5

4,746
1,481
3,094

229
26,394

320
446
49
285
430
114

19,944
5,384

94
985
38
445
8 312

515
481

34
307

1,034

6,507
1,008
1,046
(r))

1,153

0

5,386.2

289
800
335
80
495

7.3
12.3
44.8

5.8
480.9
21.6
10.0
22.7
404.6
18.7

3.4
39.9

7.9
1.3
2.6
15.6

6.9
.4
1.9
1.4
1.9
78.4
10.3

8.1
20.3
39.7
29.0
17.3

4.8
3.1
3.9
831.7
191.6
13.1
58.2
10.5
35.3
146 9
26.6
74.6
30.4
59.4
80.7
46.2
48.5

9.8
22.7

By major industry
°etroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other .
Wholesale trade
"inance (except banking), insurance, and real estate
Services ..
Other industries
* Less than $500,000.
Suppressed to avoid disclosure of data of individual companies.

D




98
2,411
52,839

1. See footnote 1 to table 3.

59

0
0
0
455
24,845

143
7

12,550
25,276
4,254
6,928

173
8,057

230
2,354

660

104

4,292
1,605
2,904
4,632
7,489
16,531
1,928
2,163

1,443

737
2,220

970
584
(D)
502

(°)

2,963
72,681
1,846
8,260
1,729
12,775
9,172
29,271
9,628
31,152

11,542
68,920
1,184
4,107
1,662
13,525
10,758
29.768
7.916
8,609

38
578

7
102

1,375

1,299

8,183
98,168
8,315
16,734
4.582
19,306
9,076
19,755
20.398
22.170
5.913
13.126
12,825

183.9
3,296.7
346.9
499.1
169.8
474.4
484.7
591.5
730.3
521.9
126.3
457.4
800.0

SURVEY OF CURRENT BUSINESS

July 1993 • 55

Table 12.1.—Total Assets of Nonbank Foreign Affiliates, Country by Industry of Affiliate, 1990
[Millions of dollars]
Manufacturing
All industries

All countries

Petroleum

Total

Finance

Chemicals and
allied
products

Primary
and fabricated
metals

Machinery,
except
electrical

Electric
and
electronic equipment

Transportation
equipment

Other
manufacturing

114,117

108,858

499,224

53,095

79,749

58,116

6,836

16,300

81,557
1,523
6,052
1,681
1,159
12,822

279,460
2.268
(l3)

35,998

24,882

4,475

n
n
7,069

n
n
39

n
n

5,205

2,321

10,140
(l3)
2,354
4,281
1,358
(I3)

8,090

23,064

3,963

(D)
71

1,179

2,786

3,703
2,042
14,330

218,688

578,611

57,172

120,897

27,695

88,257

61,615

198,581

34,705

71,231

7,182

10,814

6,839

5,636

4,112

Europe
Austria
Belgium
Denmark
Finland
France

839,149
6,971
41,173
5,372
2,090
78,371

94,777
984
2,261

322,475
1,962
19,735
1,324

36,122
107

68,563

13,196

58,272

37,598

49,403

59,322

90

472
(D)
33

1,386

4,307

11,996

1,341

n
n
n
n

n
n
n
0

47,452

4
45
(D)

138

504

92
(D)
(D)
90

n

608
9

1,462

9,677

Germany'
Greece
Ireland
Italy
Luxembourg
Netherlands

126,164
1,161
14,620
50,395
3,000
89,628

Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

11,936
2,907
29,420
7,263
49,801
1,926
315,562
1,389

422
(D)
71

D

( )
(n)

10,530

4,105

12,438

205

1,318
2,975

2,607

0
244
668

2,496
9,197

68,362

n

10,065
32,023
1,802
24,166

D

( )

/D\

0
930
3

C)

D

( )
0
116
2,270

129,671

Other
industries

1,559,038

n
n
3,502
n
152

banking), insurance,
and real
estate

Services

Canada

n

Wholesale
trade

11,394

Food
and kindred
products

n
3

C)

297
357
7,308

174

53

3,513
5,834
1,029
40,529

1,592
(I3)
4,277

n

152

530

(D)

37

0

(D)

(D)

(D)
156
0
75
(D)
(D)
19
487
(D)
0

177,863

10,932

57,041

6,357

12,354

5,107

5,603

4,037

11,262

12,321

6,869

90,319

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

52,901
5,568
31,557
4,471
4,279

5,046
1,085
1,794

36,491
3,067
26,025

3,582

7,020

3,776

2,218

7,170

3

669

n

1,076

1,404

632

204
195
245

293
159

503
497
67
63
580
(D)

(D)
(D)
0
(D)
(D)
0

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

37,198

625
70
30
(D)
983
(D)
(")
39
9
4
883

n
n
16

240

1,956

8,149
(l3)
5,495

2,703

4,458

4,576
150
4,381

51
419
31
45
0
18
(D)
(D)
561

Latin America and Other Western Hemisphere

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

1,441
4,206

747
560
390
564
25,437
9,852

D

41,242

216

232
D

( )
4
116
D
( )
(D)

266
384
(D)
13,645

3,540

n

3,107
D

( )

857
(D)
31
236
67
29
413
(D)

18,915

2,558

4,603

332

50
54
138

126
30
16

2,240

4,270
148
14

152
217
17,852

292,566
53,095
2,103
16,653
1,388
7,983
155,238
12,464
6,613
(D)
3,316
13,261
7,937
5,215

n
13,152

2,961
5,334

(D)
(D)
( )
2,310
2,639
50,577
8,070
446

630
58

7,383
1,299
6,059
3
22
117,667
17,527
806
3,041
1,163

585
20,722

1,518

68,373
8,205
2,156
680
1,852
6,103
5,037
1,825

511

3,433

(D)

4,092

0

0
(D)
0
0

)

22
0
0
1,749

0
0
0
4,092

126
7
(D)
22
0

0
0

0

37
0

0
0

360
78

648

373

120

87

109

52

21
3
(D)

( I3 )
(13)

(l3)

34
46

( )

7
0
(D)

202
54
(D)
( )

0
3

7,098

n

97
164
16
(D)
1,724
654
(D)
58

813
58
(D)
(D)

731
(D)
0
1
21

4
(D)

n

0
3
45
0

159

394
30
0
(D)
(D)
37

112
47

32
5

0
0

0
0

6

0

C3)

2,022
634
14

18,316
1,290
111

14,894
1,706

36,873
2,183

83

111
558

(

(D)
(D)
36
0

n
n
5,851
n
5,741
3
(D)
22,666
123

436
10,345
1,439
228
157

422
492
1,383
442
(D)

3

0)

I3

)

111
15
723
100

27
8
92
68
47

n
13

586
270
39
11,132
437
96
(D)
( )
3,014
814
491

10

(°)
46
854
840
7
0

C3)
43

03)

0
31
(D)
(D)

n
0
0

5,051

30,693

990

n
0
n
0

1,465

65
(D)

2,127
1,700
311
10

(I3)

(Dj
0
0

853
1,660

n
n

818

400
456

182
207

4,114

1,205
140
1,657
3

459
22,202

125
(D)

150

4

13,278

158,218

n

n
(r3)
I3
(D
)
()
40
n
94
59
60

233

917
386
332
263
(D)
107

557

n
C)

n

1,018
(l3)

25

(l3)

92
2

n
1,756

10,072

65
37
16

0
25
37

1,075

2,278
7,712

n
(D)
(D)
8

2,410
291

4
8

151

596

1,480

40,829

n
26
0
12
16
26

833
0
(D)

n
236
(°)
173

549
12

39

n
21
0

n
5
614
181
l3

( )

242

n

19
(D)

3,365

14
37
26,238

n

5,031

6
704
(D)

n
n
509

253

2,688

30
83
113

1,181

f)

n
(D)
(°)
n
n
n
n
()
218
145
(D)

10,477

(D)
208

3
4

n

328
199
(D)
1,511
796

n

225
( )

83

n

9,960

n
n
(D)
n
n
215
(D)
155
56
219
(l3)
(l3)

(D)
2,200

(D)
0
463
514

n
13

n)
(I34

50
8

C3)

412

(;3)

45
4

n
n
1,003

(D)

(D)

n
n
499

1,043

450

27

n
n
92

( )

28,984
6,118

67,937
7,873

21,297
11,393

n

216

(D)

6,105
2,113
10

3,931

5,629

(D)

589

106
74

( l3 )
14
1,962
233

2,833
31
(D)
2,616
31
(D)

422

187
430
168
196
17

(D)
0
(D)
15,799
D

927
128
48
8,705

n
127
191
(D)

364
145
(D)

13,920

729
(D)
672
142
1632

44
47,645
(l3)
1,315
319

679
426

1,455
1,748
1,023

(I3)

90

455

25
74

n
94

(D)

n
88
n

268

(°)
n
226
207
/D\
\ )

4,783

612

0

517

757,773
32,960

79,079

306,367
10,177

n

D}

11,803
(l3)
2,741

8,370

32,059

569

Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1 to table 10.
2. See footnote 1 to table 3.
3. "Eastern Europe" comprises Albania, Bulgaria, Czechoslovakia, Hungary, Poland, Romania, and the Union of
Soviet Socialist Republics.




1,774

( )
0

r>
r>

4
0
3
0
0
0

(D)

314

n
2,586

)

D

2
(

0
0
0
0
0
0

(°)
D
()
217

(D)
75
54

112
1,502
914

(

440
0

30
13

n
0

n
4

287

4
0
0
0
40
0

0
0
0
D
( )
0
0

(°)
(11/
2,814

(D)
(D)

n
0

(D)
63

n
n
2,524

58

C3)

n
(D)

0
0
0
0
0
0
0
0
0
0

4
4

226

5,155

n
n
n
9,951

495
(D)
168
(D)

13
13

/D\

14,796

4,222

C3)

(D)

157
(D)
53

n

106
(D)
1,522

44,532

371
(D)

332
2,582

1,635

911

1,871
1,587

(D)

(D)

H

52
(D)
54

19,221
4,019
6,695
1,090
80,544

250

20,170
4,017
10,661
2,550
2,941

Addenda:
Eastern Europe3
European Communities (12) 4
OPEC 5

391

n
n
n
18

(D)
336

1,308

395

Middle East
Israel
Saudi Arabia
United Arab Emirates
Other

ntcr national ^

4,771

( )
8,405

87,764
4,663

Africa
Egypt
Nigeria
South Africa
Other

1 l l v l 1IQLIUIIOI

(»)
218
(D)
384

0
(D)

275
87

1,904
26,665
1,505
5,746
(n)
17,557
3,146
3,487
2,674
8,250

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
-p
Taiwan
Thailand
Other

9,763

(I

(D)
67,388
6,891

0

(D)

12,382
1,077

56,058

84

( )

0
47,087

153

475

(D)

n

928

(D)

(D)

60,940

253,658
1,496

958

1
33,455

24,275

734

(D)

7

4. See footnote 2 to table 3.
5. OPEC is the Organization of Petroleum Exporting Countries. Through yearend 1992, its members were Algeria,
Ecuador, Gabon, Indonesia, Iran, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and
V
l
Venezuela.

SURVEY OF CURRENT BUSINESS

$6 • July 1993

Table 12.2.—Total Assets of Nonbank Foreign Affiliates, Country by Industry of Affiliate, 1991
[Millions of dollars]
Manufacturing
All industries

All countries

Petroleum

Total

Finance

Chemicals and
allied
products

Primary
and fabricated
metals

Machinery,
except
electrical

Electric
and
electronic equipment

Transportation
equipment

Other
manufacturing

26,804

94,308

68,193

116,591

113,649

134,669

5,668

4,069

19,561

11,787

62,328

142

1,690,161

224,763

606,473

61,662

125,267

Canada

203,493

35,089

72,332

7,404

11,548

Europe

919,186

98,374

335,941

38,117

71,259

11,824

59,378

41,935

51,100

6,698
42,469
5,891
1,739
82,952

1,047
2,048

2,194
19,970
1,379

115

100
(D)

(D)
590

n
191

(D)

n
23

138
957
30
41

(D)

3,149

Ajstna
Belgium
Denmark
Finland
France
Germany
Greece
Ireland
Italy
Luxembourg
Netherlands

140,062
1,416
16,148
53,321
3,466
100,513

Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

11,653
3,365
30,217
9,930
48,170
2,271
356,489
2,413

Latin America and Other Western Hemisphere
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

4,711

10,543

1,088

10,076

76,676

4,701

12,659

3,583

14,214

578

247

208

0

10.312
33,185

1,708
2,980

2,619
7,306

n

0

(D)

2,940

8,697

0
249
625
56
900

25,422

7,562

11,984

5,386

5,191

4,417

12,573

36,741
3,254
25.608

3,691

6,679

3,883

4,118

2,213
5
D

7,705

2,516

21,742

119
(")
814

n

400
160
221

41
242
67
(D)
401
(D)
(D)
112
58
127

20.625

3,302

4,459

56

360

220

245
90

91,059
4,128
1,253
48,187

3,492

1,577

n
n
1,374

51
13
13

120
14
528
(D)
0
1
26
131
7
(D)
D
()
0
707
119
60
380
147

600

189

1,328
6,060

314

852
850
430
550
28,772
12,032

("I

2,117
26,499
1,188
5,509

(D)
16,579
2,705
2,953
2,703
8,217

Middle East
Israel
Saudi Arabia
United Arab Emirates .
Other

20,277
3,745
10.962
2,531
3,038
327,394
55,812
1,926
17,934
1,276
9,708
175,442
13,709
7,497
7,273
3,651
15,093
9,103
6,099
2,870

n

n

05)

D

()
64

n
69
(D)

n

1,456

282
161
3,461
n

()

n
n
11

n
n
56

n

2,977

2,016
2,550

299
150

n
5,290
n
n
n
2,176

1,572

(D)
54,242
8,435

482
630
49
(D)
22,743

n

2,755
2,409

957
7,327
1,449
5,816

40
22
127,837
17,946
1,150
2,720
1,077

668
75,209
9,142
2,807

685

1,710

2,114
6,902
5,215
2,009

756

195

n

3,346

42

13,742

0

317,377
10,435

13
4
4
D
()
(D)
4
7
0
(D)
370
78
48
51
193
53
(D)
(D)
0
3

n

4,777

125
30
29

121
3,934

888
76
30
45
991
8

4
0
0
0
59
0

(D)
(D)
9
4
917
4
(D)
(»)
0
0
0
0
(D)
0
0
0
0

n
0

n
21

3
(D)

3
(D)
218
165
112
52
0
0

8,156

24,167

2,110

(D)
108
204
17
43

(D)
289
261
499
451

669
15

2,011

11,576
1,468

676
(D)
80
895
61
(D)
(D)
(D)

870

84,681

D

183
450
54
69
750

71
1,776

5,603
D

()
5,489

300
183
491
427
1,414

430
(D)

n

113
16
667
107
27
9
102
85
(D)
(D)
(D)

8

20
592

5 $

C)
()

0

n
n
(D)
60

0
0
D

( )
0
0
0
0
0
0
0
0
(D)
413
30
0
(D)
r)
65
(D)
5
(D)
0

4

14,265

n

87

303

12,946

7,350

96,201

2,982

12,165

n
0

(D)
369
445
249
(D)
124
683
61

D

2,155

4,868

30
0
0

0
0
0

n
D
(D)
()
63

4,868

0
3
49
0
4
0
3
0
0
0
41
0
114
(D)
4

0
0
0
0
0
0
0
0
0
0
0
0
119
D
()
(D)
32

182
540
249
(D)

85

(D)
(D)
37
0

16,004

n
n
n
10

1,013
1,870

3,436

( l) )
1,747

737
487
3

81
(D)
353
(D)

28,843
D

()
0
(D)
\ )
( ;
( )

0
0

n

(D)
195
157
(D)

309

2,983

35,656
1,978

n
13

195,204

(D)

16,644
1,687

170
234
1,196

(I5)

(°)

160

8,451

23,592
1,159

452

32
(D)

438

5,460

0
0

7,438

2,766

860

(D)

n
n
n
0

(D)

12,514

453
0

n
46
n
5,962

1,118

68
(D)

1,837

(D)
(D)

( )

991
7
(D)
(D)

6,818

7.262
3,906

n
n
n
n
0

1,835
5

816

n
n
0

1,014

(D)

4,521
6,609
1,076
46,543

386
59

1.746

17
27
13
2
(D)
6

n
39

1,671

3,622
2,042
15,159

3,051

2,123

0
0

934

()
1 )
1
(D)

62

n
65
(°)

8

4
8
D
( )
18
0
12
16
26
(D)

o
D
(D)
()

( )

(D)

167

n
0
2
17,512

n
n
697

(")
21,898

n

244
(D)
1,010
( !) )

24

2,129

n
n
n
11,950

53
15
10

0
25
38

1,425

2,297

623
4
2,238

152
163
(D)
27
107
12
0
(D)
5
625
161

n

220

n

(D)
(D)

3,015

917
44,586

14
37
25,944

(D)
4,865

6
784

n

S
O

C)

661
( !i )

364
69
46
0
18
87

n
(D)
3
4
(D)
386
229

(°)
(D)
682
(°)
(D)
n
83

n
(D)

31,347
5,462

80,029
8,169

8,033
3,521

272

16

5
640
(D)
14

10,146
1,621

15,677

7
46
(D)

901
(D)
463
164
1,878

967
506
(D)

n

1,324

608
(D)
2,092
2,339
1,568

110

209
3,225
3

C)

(

D

(D)

0
409
D
()

(Di
(D)
(D)

582
500

6,264

()
(°)
n
(°)
(r3)
107

297

n
n
0

796

103
98

n
(°)

13

1,192

4,427

n

276

46
8
285
43
4

2,375

(°)
n
105

12,431

C5)

277
52
54
146
25

115
56
392
123
221
317
464
245
(D)

n

(°)
(")

(D)

(°]
(D)

(D3

328
(D]
126
25,906
12,279

2
3,253

(D;
( !

2,248

237
(D)
77
191
633
199

n
18

7,827

1,357
836,312
35,967

(

(

D

J

229
3,030

229
241
341
(D)

n

5,915

(D)

34,472

579

u
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1 to table 3.
2. "Eastern Europe" comprises Albania, Bulgaria, Czechoslovakia, Estonia, Hungary, Latvia, Lithuania, Poland,
Romania, and the Union of Soviet Socialist Republics.




171
0

60,059

(D)

(D)

5,003

7,718

9

4,334

282

H

2,181
(IJ)

( )
14,285

972

1,438
5,789
1,643

102
2,046

0

1,813

29,821

218

168

n

44,973

24,181

3,315

n

326,794

399

(D)

n

n

16,949

83,283

9,236

143

n

381

93,272

6,945

12,701

13,371

H

2,091

64,410

60,392

(D)

(D)

(°)
(!>)
n
165

471

566,574

10,931

10,680

n

Other
industries

11,280

478

4,726
1,000
1,488

250

n
n
n
n
n

194
(D)

Services

n
0

162
(D)
(D)

55,438
5,809
31,433
5,118
4,238

1,079

692
(D)

3,538

(except
banking), insurance,
and real
estate

(D)
(D)

114
461

10,733

384
44,564

62
(D)
62

n

M
n
0

4,684

189,490

3,000

2,761
7,285

C5)
(D)

89
378

147

278

n
77

2,439

n
414

Africa
Egypt
Nigeria
South Afr-ca
Other

Addenda:
Eastern Europe 2
European Communities (12) 3
OPEC 4

(D)

47,596

1,345

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

International

n
66

538
10

21,241
6,020
6,122
1,328
77,510
1,130

42,993

!

454

426

(°)

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other

n
n
3,857
n
153

Wholesale
trade

Food
and kindred
products

(D)

0

9

69,684
6,821

10,959
1,092

56,467

175

ii

0
47,342

505

(D)
r)
1,026

200

(D)

1

(D)

61,993
1,103

301,372
1,750

41,899

28,983

763

(D)

3. See footnote 2 to table 3.
4. OPEC is the Organization of Petroleum Exporting Countries. Through yearend 1992, its members were Algeria,
Ecuador, Gabon, Indonesia, Iran, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and
Venezuela.

SURVEY OF CURRENT BUSINESS

July 1993

•

57

Table 13.1.—Employment of Nonbank Foreign Affiliates, Country by Industry of Affiliate, 1990
[Thousands]
Manufacturing
All industries

All countries

Petroleum

Finance

Total

Food
and kindred
products

Chemicals and
allied
products

Primary
and fabricated
metals

Machinery,
except
electrical

Electric
and
electronic equipment

Transportation
equipment

Other
manufacturing

Wholesale
trade

banking), insurance,
and real
estate

Services

Other
industries

1,061.9

6,833.9

235.7

4,332.9

452.2

583.1

231.6

571.1

712.6

869.1

913.3

547.2

166.2

490.0

Canada

931.9

33.8

447.8

46.1

45.2

34.0

34.2

37.3

(D)

(D)

67.5

(D)

74.2

(D)

Europe

2,904.3

75.4

1,876.4

164.7

258.1

100.0

311.8

293.0

362.1

386.8

312.8

80.1

270.6

289.0

27.0
128.6
19.9

1.0
2.6
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.5
6.2

13.1
94.7

n

(D)

(D)

7.2

2.2
12.1

n
40.2

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(D)

0

14.7

(n)
(D)

3.0
1.7
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263.8

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4.0
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64.3

11.7

452.6

19.6

45.0

29.1

( )

fl

.5
2.3
.4
(D)
(D)

31.7

51.7

Austria
Belgium
Denmark
Finland
France

8.7
419.7

Germany'
Greece
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spam
Sweden
Switzerland
Turkey
United Kingdom
Other
Latin America and Other Western Hemisphere
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other
Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other
Africa
Egypt
Nigeria
South Africa
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other
nternational

2

Addenda:
Eastern Europe •*
European Communities (12) 4
OPEC 5

592.8
('*)
45.4
197.8

7.3
143.3
27.6

(D)
156.7
60.8
55.4
20.6
937.3
19.5

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3.9
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7.2
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( )
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1.0
1.5
28.6

(D)

1,335.1

29.9

656.9
57.7
442.9
22.4
40.0

23.3

9.2
14.0
63.0

7.5
631.4
20.0
11.6
23.6
553.1
19.8

3.4
46.9

8.2
1.5
2.7
18.7

8.9
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2.8
1.5
2.1
120.8
13.0

7.6
40.6
59.5
49.8
25.8
16.8

2.6
4.6
1,464.0
388.2
21.3
82.4
38.8
42.7
402.4
72.7
71.3
17.7
97.9
86.9
64.3

4.3
7.4
1.1
4.0
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(D)
3.0

n
4.2
(*)
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1.0
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8.4

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8.0
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0
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122.5

18.7

21.9

1.3

n
1.5

1.3
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( )

0
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( )
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( )

51.1

68.1

32.1

42.1
149.0

6.2
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23.9
15.0
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n
1,049.1
541.7
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9.6
22.9

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27.8

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644

o

628

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46.1

2.9
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3.6
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65.7

62.0

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5.0
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3.4

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n

106.1
19.8

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()

n .9
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1,752.7
70.1

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73.6

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464.2

n.3

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5.7
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0
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89.6
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147.9
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251.2
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( )
(D)

n

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158.2

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(°)
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122.8

* Less than 50 employees.
° Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1 to table 10.
2. See footnote 1 to table 3.
3. "Eastern Europe" comprises Albania, Bulgaria, Czechoslovakia, Hungary, Poland, Romania, and the Union of




.5
3.1

(D)

4.1
490.9
10.1

0
18.6

12.4

17.5
2 684.6
148.7

1.9
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876.6
116.3
17.8
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60.8

3.3
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59.9
10.9

n
3.0
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19.4
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62.6

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40.2

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(D)
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67.8

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3.5
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217.5

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n
84.0

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50.5

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87.0

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8.8

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14.4

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l?
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n .2
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fl

n .1

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4.5
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1.1
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n

n
n
n
(D)
n
58.6
n
n)
D

4.4
5.4
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4.5
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15.6

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( )
0
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hA
n.7

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n
2.2

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262.4

75.1

8.8

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248.2
10.1

283.4
24.7

Soviet Socialist Republics.
4. See footnote 2 to table 3.
5. OPEC is the Organization of Petroleum Exporting Countries. Through yearend 1992, its members were Algeria,
Ecuador, Gabon, Indonesia, Iran, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and
Venezuela.

SURVEY OF CURRENT BUSINESS

July 1993

Table 13.2.—Employment of Nonbank Foreign Affiliates, Country by Industry of Affiliate, 1991
[Thousands]
Manufacturing
All industries

Petroleum

Primary
and fabricated
metals

Machinery,
except
electrical

Electric
and
electronic equipment

Transportation
equipment

Other
manufacturing

840.8

887.2

6,898.1

231.4

4,270.4

463.9

591.5

211.0

532.6

743.4

Canada

911.6

29.4

429.3

49.4

46.3

33.3

30.9

33.7

Europe

2,973.3

74.8

1,851.7

167.6

268.2

88.0

286.9

329.2

24.0
124.7
20.5

1.0

13.1
91.0

.4
21.0
1.6
.3
40.5

.3
4.1

.8
7.6
.5
.3

25.5

All countries

Austria
Belgium
Denmark
Finland
France
Germany
Greece
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other
Latin America and Other Western Hemisphere

8.3
439.3
614.2
11.9
43.0
209.6

(°)

144.2
27.3

(D)

160.4
48.5
57.7
20.7
958.5
28.3
1,338.8

2.5
()
.5
6.7

270.2

n

1.1
10.0
2.1
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14.4

11.7

456.4

23.0

49.3

5.0

1.6

1.8
4.4

D

.5
.5
4.0
.1

n
nA
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.7
1.0
1.6
27.0

8.6

39.4
144.5

i°)

85.8

7.7
(l:>)
125.2
30.6
25.3
15.1
485.3

n
65.9

()

()

1.2
28.1
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48.8
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87.1

.2

69.8

n
65.8

15.1

7^1
4.2

5

0

(D)

1.8
(D)

15.3

66.6

62.3

n.3

D

()
0
2.6

71.7

43.2

4.4

1.3

4.0

15.4

(D)

1.9
25.5

n.4

I?

19.0

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6.4
(D)
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(D)
(D)

5.7

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2.2

15.9

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1.3

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5.0
5.5

C)

2.0
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4.1
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D

()

1.5

0

n
n
(D) .
51.5

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2.3
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1.5
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n.3

67.5
1.4

53.6
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31.4

iD)

.1

(D)
( )

( )
D
)
5.0

4.7
2.6

15.7
11.6
19.1

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32.7

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.5
9.2
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20.7

6.2
2.5
7.1

0
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24.6

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n
n
0
9.4

n
n
2.1

n
nA

138.3

186.9

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241.5

215.1

42.9

12.6

59.9

159.9

38.7

126.4

107.4

26.4

23.2

61.5

1.3

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18.4

38.9

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3.7
1.5
1.0
8.8
2.3

2.8

3.6
2.3
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6.7
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(D)
(D)
0

n
78.7

9.7

n
nA

4.7
6.1
5.1

1.2

n

n

6.9
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(D)
3.2
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3.2

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

655.7
22.3
10.8
22.8
577.3
19.2

4.4
(*)

521.7
13.0

4.0
5.8
1.2

47.6

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2.0
1.3
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2.6

8.2
1.3
2.6

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19.7

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8.5
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1

57.3

61.3

2.5
2.3

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17.5
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n.1

1.0
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3.0

8.7
4.8
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1.0
1.1
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2.7

(°)
7.8

31.9
22.7

n
n

20.4
14.6

62.5
10.0
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(D)
13.8

C3)

5.4
1
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870.2
110.1
20.4
50.8
36.5
10.8
256.8
58.9
67.7

fl
0

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7.3
1.9

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(D)
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104.6

n

3.1
h.6
(D)
5.3
4.4

1.9

6.3

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3.7
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2.8
1.7

75.5
67.3
46.5
55.5

36.4
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(D)
D
( )

7.2

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0
0
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3.2

1.6
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1.0

492.3

64.2
6.7

1,473.0
370.6
22.3
80.4
39.9
42.9
412.7
72.5
78.3
31.8
88.3
88.0
61.3
72.0
12.1

4.0

2.1

4.6

1.2
3.2

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5.1
6.5

n.8
n
1.3

3.7
4.5

7.0
1.1
1.4
11.4
66.0

0
10.6
1.8

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5.4
2.4
4.8

(°)
3.6
106.9
19.9
2.8

1.2
14.6

4.2
31.6
4.5

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()

61.9
36.2

1,733.4
73.3

(D)
0
0
0
0

0

0
0
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0
24.5

0
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24.5

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0

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0
0
0
0

0
0
0
0
0
0
0

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6.2
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2.7
2.9
1.7
1.2

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0
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6.8

n
0
(D)

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n.3

0
6.5
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125.1
1.4

115.2
0

0
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0
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123.6

115.2

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0
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0
0

0
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0
0
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2.7
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(D)
1.3
9.5
9.3
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n.1

22.1
4.9
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3.3

142.7
11.5
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204.4

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3.3
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1.5

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146.1
14.2

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(*)

2.3
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(D)
1.7

1.2

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255.1
21.3

()

n
().4
*

1.5

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D

.3

8.5

12.0

0

n .9

2.2

5.7
3.5
5.4

* Less than 50 employees.
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1 to table 3.
2. "Eastern Europe" comprises Albania, Bulgaria, Czechoslovakia, Estonia, Hungary, Latvia, Lithuania, Poland,
Romania, and the Union of Soviet Socialist Republics.




D

.5
2.8
.7
(D)

19.1

164.0

47.9

21.2
2,758.5
172.9

n.6

2.1
11.6
D
( )

64.7

.4

Addenda:
Eastern Europe2
European Communities (12) 3
OPEC 4

2.8
1.6

331.1

.4
1.7

40.1

6.7

28.4

1.1
(D)
1.8

.6
7.7
7.0
2.0
.4

323.5

33.6

12.9
86.7

International'

3.2

75.9

59.7

6.2
3.5

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other

n.1

.4

282.7

316.3

85.9
10.4
51.4

22.7

50.3
28.5
13.5

3.6
21.5

.4

nA

1,145.0

69.2

154.8

.9
1.7
3.9

Middle East
Israel
Saudi Arabia
United Arab Emirates
Other

.3
4.3
16.7

27.3

536.8

29.0

63.5
11.9
33.6

4.0

122.7
14.0
10.1
39.7
59.0

2.9
.7
7.3

0
6.8

154.8

134.8

9.8

Africa
Egypt
Nigeria
South Africa
Other

0
18.2

1.6

nA

559.7

495.5
40.8
361.4

21.9

2.5
2.0
2.1

0
12.6

0

n
70.0

n
1.6

(D)

Other
industries

n
1,034.6

635.4
58.5
394.8
24.6
41.3

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands. Caribbean
Other

27.4

.1

9.5

3.4

372.6

Services

n
28.8

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

3.4

1.8
10.8

.6

(D)

339.3

Finance
(except
banking), insurance,
and real
estate

6.9

Chemicals and
allied
products

Wholesale
trade

72.0

Total

Food
and kindred
products

n

0

4.7
10.7
53.8

3.1
2.8
.3
(D)
31.3

3.3

n

(Dj
1.1
C5)

30.1
14.9
46.4

.5
(D)

28.7
23.8

7.6
.5

0
0
0
0
0
0
0
0
0
0
0
0
(O)

2.3

(D)

5.2
1.9
D
()

n.8
1.0
(D)

s

.4
.4

0
0
0
139.4
17.9
(D)

.1
.7
0

88.6

(D)
0
.9
.4
.9

n
0
0

.2
.4
.7

()

275.8

318.0

8.7

.8

( /

7.9

.3
.2
10.9

1.3
.1
2.4
.1
.1

.3
.6
.9
.1

0
.2
.1

6.8

0

6.2

n
4.5

n
0
(*)

{ )

.1
3.7
0
.2
.2
(D)

n

.1

26.5
.1

.1
(*)
25.9
.4
.1

n
n .1

(D)

.4
.1

.4

(*)

7.6

D

( )
.1
(D)

0
(D)

n
().8
*
n
15.9
10.9

4.6
.3
.1
60.6
21.9
.1
4.4

119.8

35.9

n
1.6

5.5

n.8

O

(°).1

44.1
(D)
14.3
2.1
(D)

47.1
4.5

14/1
1.5

17.5
4.3

n
3.2

1.7
.7
1.7

.9

14.1

n

.1
0

(D)
1.0
(D)
5.5
1.4

266.7
11.6

.9

.5
.2

(*)

150.1

.3

n
n
13.0
0

Q
()
*
( ).2

(D)

(D)

6.5
.6
.9

-.3
.9
.2

2.9
5.6
(D)
5.6
(D)

7.9
4.8
15.6

.2

n
1.0
n
D
(0)

(D)
1.2
0
(D)

3.7
6.4
4.1
.2

85.4

10.2

n
n
3.1

ii.i

8.2

n
n
n
2.7

2.0

1.1

.4

1.9
10.9

.9
3.5
0
(D)

n
1.8
n
1.9

0

83.7

14.1
1.2

0

0

1.1
.4

.7
.8
6.5
.3

.1
.4

( )

n

D

6.2

.2

H

D

2

0

2.4

.5

n

O

5.0

1.1

2.2
1.8
.1

.1
73.5

.9

1.0

.5
4.0
3.1

1.9

n
.1
298.3
10.5

.4

n
n
()
n
(D)
n
n
n.5
324.0

n
0

8.5
0
(D)
63.4

(D)

n
18.7
6.8
6.3
(D)
4.4

in)

16.3

.9
324.6
40.3

3. See footnote 2 to table 3.
4. OPEC is the Organization of Petroleum Exporting Countries. Through yearend 1992, its members were Algeria,
Ecuador, Gabon, Indonesia. Iran, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and
Venezuela.

July 1993

SURVEY OF CURRENT BUSINESS

59

Foreign Direct Investment in the United States:
Detail for Historical-Cost Position and Balance of Payments Flows, 1992
THE FOLLOWING SET of tables presents country-by-industry estimates and estimates by detailed account for foreign direct
investment in the United States (FDIUS). It covers the FDIUS position on a historical-cost basis and the related capital and income
flows and presents estimates of the position, capital flows, and
income for all countries from which there was investment and
for all industries in which investment was made.
The estimates in tables 3-18 differ in several respects from
those for comparable items included in the U.S. international
transactions accounts and in the international investment position of the United States.1 Whereas the estimates in tables 3-18
are on a historical-cost basis—the only basis on which detailed
estimates by country, by industry, and by account are available—
the estimates in the U.S. international transactions accounts are
on a current-cost basis, and those in the international investment position are on both a current-cost and a market-value
basis. Additionally, the estimates of direct investment currentaccount items (income and services payments) in tables 3-18,
unlike those in the U.S. international transactions accounts, are
net (after deduction) of U.S. and foreign withholding taxes; estimates gross of withholding taxes are not available by country or
by industry. Table 1 shows the position and rates of return for
FDIUS on all three valuation bases (historical cost, current cost,
1. See "U.S. International Transactions, First Quarter 1993" and "The International Investment Position of the United States in 1992," SURVEY OF CURRENT BUSINESS 73 (June
1993).




and market value), and table 2 reconciles the estimates presented in tables 3-18 with those included in the U.S. international
transactions accounts.
The estimates of capital flows shown here incorporate a new
methodology, introduced in June 1993, for estimating increases
and decreases in equity capital of affiliates that are exempt from
BEA'S quarterly surveys of direct investment because of their size.2
The new methodology, which affects estimates for 1990 forward,
parallels and extends the methodology introduced in June 1992 to
account for equity capital increases and decreases for delinquent
affiliates, that is, for affiliates that should have been reported in
the quarterly surveys but were not. Incorporation of estimates
for both delinquent and exempt affiliates corrects for a systematic
downward bias in the reported data.
Tables 1 through 18 follow. H
2. See "U.S. International Transactions, Revised Estimates for 1983-92," SURVEY 73 (June
1993): 61.

The survey from which the estimates were derived was conducted by Gregory G. Fouch under the supervision of James L.
Bomkamp. Peter J. Fox, Nancy F. Halvorson, Tracy K. Leigh,
Beverly E. Palmer, and Sabiha M. Sierra assisted with the survey
and with the preparation of the estimates. D. Richard Mauery
programmed the tables.

60 • July 1993

SURVEY OF CURRENT BUSINESS

Table 1.—Alternative Position and Rate of Return Estimates for Foreign Direct Investment in the United States, 1990-92
[Millions of dollars or percent]
Changes in 1991 (decrease (-))
Position at
yearend
1990

Valuation method

Historical cost
Current cost
Market value

394.911
468,242
539,601

Total

19,447
18.957
133,371

Position at
yearend
1991

Valuation
adjustments

Capital
inflows

25,446
23,975
23,975

Rate of return l

Changes in 1992 (decrease (-))

Attributable to:

-5,999
-5,018
109,396

414.358
487,199
672.972

Attributable to:
Total

Valuation
adjustments

Capital
inflows

5,168
5,071
19,375

3,388
2,378
2,378

Position at
yearend
1992

1,780
2,693
16,997

419,526
492,270
692,347

1990

1992

1991

0.8
0.7
0.1

-0.4
-0.6
-0.3

0.6
0.3
0.4

1. Equals direct investment income divided by the average of the beginning- and end-of-year direct investment
positions. For the historical-cost rate of return, direct investment income (table 2, line 14) is measured after deduction
of U.S. and foreign withholding taxes on distributed earnings and interest and excludes a current-cost adjustment
to earnings and capital gains and losses. For the current-cost rate of return, income (table 2, line 1) is measured
before deduction of U.S. and foreign withholding taxes on distributed earnings and interest and includes a current-

cost adjustment to earnings; capital gains and losses are excluded. For the market-value rate of return, income
(line 1 minus line 8 from table 2 plus column 11 from table 5) is measured before deduction of U.S. and foreign
withholding taxes on distributed earnings and interest and excludes a current-cost adjustment to earnings; capital
gains and losses are included.

Table 2.—Foreign Direct Investment in the United States: Reconciliation
With International Transactions Accounts

Table 3.—Foreign Direct Investment Position in the United States
on a Historical-Cost Basis

[Millions of dollars]
Direct nvestment position
Line

1990
Income with current-cost adjustment, before deduction of
withholding taxes (IT table 1, line 26, with sign reversed)
Earnings
Distributed earnings
Reinvested earnings
Interest, net
U.S. affiliates' payments
U.S. affiliates' receipts
Less: Current-cost adjustment to earnings
Less: Withholding taxes, net
On distributed earnings
On interest, net
On U.S. affiliates' payments
On U.S. affiliates' receipts
Equals: Income without current-cost adjustment, after deduction of
withholding taxes (shown in the accompanying tables)
Capital inflows with current-cost adjustment (IT table 1, line 57)
Equity capital
Increases in equity capital
Decreases in equity capital
Reinvested earnings (line 4)
Intercompany debt
U.S. affiliates'payables
U.S. affiliates' receivables
Less: Current-cost adjustment (line 8)
Equals: Capita! inflows without current-cost adjustment (shown in
the accompanying tables
Equity capital (line 16)
Reinvested earnings without current-cost adjustment (line 19 less line
23)
Intercompany debt (line 20)
Royalties and license fees, before deduction of withholding taxes,
net
U.S. affiliates' payments (IT table 1, part of line 22, with sign
reversed)
U.S. affiliates' receipts (IT table 1, part of line 8)
Less: Withholding taxes, net
On U.S. affiliates' payments
On U.S. affiliates' receipts
Equals: Royalties and license fees, after deduction of withholding
taxes, net (shown in the accompanying tables)
U.S. affiliates' payments
U.S. affiliates'receipts
Charges for other services, net 1
U.S. affiliates' payments (IT table 1, part of line 23, with sign
reversed; also shown in the accompanying tables)
U.S. affiliates' receipts (IT table 1, part of line 9, also shown in the
accompanying tables)

1991

1992

Change
Millions of dollars

Percent
1992

1990
2,970
-5,197
9,367
-14,564
8,167
10,141
1,974

-2,993
-11,991
7,931
-19,921
8,997
11,486
2.489

1,630
-5,563
6,920
-12,583
7,294
9,424
2,130

-408
443

-1,471
269
292
-23
101
124

-1,010
169
193
-23
83
106

2,936

-1,791

2,741

48,014

23,975
41.932
49,386
7,455
-19,921

2,378
22,467
27,005
4,538
-12,583
-7,506

452
-9
90
99

56.239
62,436
6,198
-14,564
6,339
20.505
-14,166

1,965
4,470
-2,505

-990
-6,516

-408

-1,471

-1,010

48,422

56,239

25,446
41,932

3,387
22,467

-14,156
6.339

-18,450
1,965

-11.573
-7.506

1,584

2,279

2,235

1,967
383

2,855
576

2,954
719

85
104
19

123
152
29

121
157
36

1,863
364

2,156
2,703
547

2,797
683
-1,590

2,114

-306

-445

3,784

4,396

5,071

4,090

4,841

6,661

1. Withholding taxes on "other" services transactions between U.S. affiliates and their foreign parent groups are
assumed to be negligible, and no estimates of them are made. Therefore, there is no difference between the "before-tax" estimates shown in the international transactions accounts and the "after-tax" estimates shown in the accompanying tables.
IT International transactions




M ilions of dollars
1991

1992

1991

1992

394,911
42,882
152,805
50,910
148,313

414,358
40,196
156,586
55,471
162.105

419,526
38.545
159,492
56,936
164.553

19,447
-2,686
3,781
4,561
13,792

5,168
-1,651
2,906
1,465
2,448

4.9
-6.3
2.5
9.0
9.3

1.9
2.6
1.5

Canada
Petroleum
Manufacturing
Wholesale trade
Other

29,544
1,373
9,201
2,292
16 678

37,301
1,413
16.066
1,618
18 204

38,997
1,342
17,313
1,495
18848

7,757
40
6,865
-674
1,526

1,696
-71
1,246
-123
644

26.3
2.9
74.6
-29.4
9.2

4.5
-5.0
7.8
-7.6
3.5

Europe
Petroleum
Manufacturing
Wholesale trade
Other

247,320
34,284
115,831
21,004
76,202

251,248
31,698
113,365
22,507
83,678

248,461
30,015
113,595
21,699
83,151

3,928
-2.586
-2,466
1,504
7,477

-2,787
-1,682
231
-808
-528

1.6
-7.5
-2.1
7.2
9.8

-1.1
-5.3
.2
-3.6
-.6

Of which:
Netherlands
Petroleum
Manufacturing
Wholesale trade .
Other

64.671
13,267
24,734
4,674
21 996

59,355
12,398
18,267
5,460
23 229

61,341
12,373
21,442
4,895
22 631

-5,316
-869
-6,468
787
1,234

1,987
-25
3.175
-565
-599

-8.2
-6.6
-26.1
16.8
5.6

3.3
-.2
17.4
-10.4
-2.6

United Kingdom
Petroleum
Manufacturing
Wholesale trade .
Other

98,676
15,900
42,365
5,179
35,232

100,386
14,355
42,259
5,633
38,140

94,718
11,863
42,208
5,367
35.280

1,711
-1,545
-106
453
2,908

-5.669
-2,492
-51
-265
-2.860

1.7
-9.7
-.3
8.8
8.3

-5.6
-17.4
_^

Japan
Petroleum
Manufacturing
Wholesale trade
Other

83,091
69
17,145
26,148
39,729

92,896
148
18,545
29,456
44,747

96,743
-13
19,149
30,831
46,776

9,805
79
1,400
3,308
5,018

3,846
-162
604
1,375
2,029

11.8
115.1
8.2
12.6
12.6

4.1

Other
Petroleum
Manufacturing
Wholesale trade
Other

34,955
7,156
10,628
1,467
15,705

32,912
6,937
8,609
1,890
15,476

35,325
7,201
9,435
2,911
15.778

-2,043
-219
-2,018
424
-229

2,413
265
826
1,021
303

-5.8
-3.1
-19.0
28.9
-1.5

7.3
3.8
9.6
54.0
2.0

All areas
Petroleum
Manufacturing
Wholesale trade .
Other

1. Percent change is not defined because the position is negative in 1 of the 2 years.

1991

1.2

-47
-7.5

n
4.7
4.5

SURVEY OF CURRENT BUSINESS

July 1993

6l

Table 4.—Foreign Direct Investment Position in the United States on a Historical-Cost Basis by Account
[Millions of dollars]
1992

1991
Intercompany debt
Total

Equity1

U.S.
affiliates'
payables

Net
All areas ...
Petroleum
Manufacturing
Wholesale trade
Other

Intercompany debt

U.S.
affiliates'
receivables

Total

Equity'

U.S.
affiliates'
payables

Net

U.S.
affiliates'
receivables

414,358
40,196
156.586
55,471
162,105

294,187
31,238
104,131
38,861
119,958

120,170
8,958
52,454
16,611
42,147

170,415
12,020
61,408
23,816
73,171

50,245
3,062
8,954
7,206
31,024

419,526
38,545
159,492
56,936
164,553

306,862
32,024
109,160
39,554
126,124

112,664
6,521
50,332
17.382
33,429

169,425
9,958
61,414
25,128
72,925

56,761
3,437
11,082
7,746
34,496

Canada
Petroleum
Manufacturing
Wholesale trade
Other

37,301
1,413
16,066
1,618
18,204

28,970

8,332

10,954
1,019
3,126
726
6,083

2,622

38,997
1,342
17,313
1.495
18,848

32,762
(D)
15,409
1,001
(D)

6,235

3,930

Europe
Petroleum
Manufacturing
Wholesale trade
Other

251,248
31,698
113,365
22,507
83 678

171,729
25,807
70,475
13,277
62170

79,519
5,891
42,890
9,230
21 508

109,742
7,746
49,493
11,473
41 030

30,223
1,855
6,603
2,243
19 521

248,461
30,015
113,595
21,699
83151

174,814
26,323
72,746
12,668
63 076

1,904
494
(D)
73,647
3,692
40,849
9,031
20 075

10,165
713
3,888
824
4,741

59.355
12,398
18,267
5,460
23,229

31,303
11,669
7,379
2,163
10,093

28,051
729
10,888
3.297
13,136

31,220
776
12,440
3,487
14,517

3,169
47
1,552
190
1,381

61,341
12,373
21,442
4,895
22,631

35,672
12,152
9,856
2,329
11,334

25,670
221
11,586
2,567
11,296

29,463
(D)
13,602
3,242

100,386
14,355
42,259
5,633
38,140

64,497

35,889

47,053
5,314
20,400
3,586
17,753

11.164
(D)
2.043
902

94,718
11.863
42,208
5,367
35,280

62,950
9,154
25,138
2,656
26,002

31,768
2,709
17,070
2,711
9,278

46,670
(D)
19,477
3,984

24,585
11
4,555
6,781
13,237

30,312
192
4,904
9,934
15,281

5,728
181
349
3,153
2,045

96,743
-13
19,149
30,831
46,776

71,885
(D)
15,091
23,470

24,858
(D)
4,058
7,360
(D)

31,220
106
4,741
10,404
15,969

7,735

19,407
3,062
3,885
1,683
10,777

11,672
(D)
706
1,414

35,325
7,201
9.435
2,911
15,778

27,402
4,694
5,914
2,415
14,378

7,924
2,507
3,521
496
1,400

20,349
2,822
4,441
1,881
11,205

01 which:
Netherlands
Petroleum
Manufacturing
Wholesale trade
Other
United Kingdom
Petroleum
Manufacturing
Wholesale trade
Other

,

Japan
Petroleum
Manufacturing
Wholesale trade
Other

92,896
148
18.545
29,456
44,747

Other .
Petroleum
Manufacturing
Wholesale trade
Other

32,912
6,937
8,609
1,890
15,476

D

Suppressed to avoid disclosure of data of individual companies.
1. Includes capital stock, additional paid-in capital, retained earnings, and cumulative translation adjustments.




(°)

14,236
1,287

n

n
23,902
2,949
(D)
68,312
137
13,990
22,675
31,510
25,177
(D)
5,431
1,621

n

n
1,830
331

n

n
18,357
2,684

n

n
3,179
269

n

n
1,296
395

n

n

n

n

n

107,691
6,318
48,345
12,019
41 010

n

n

n
1,984
330
(D)
34,044
2,626
7,496
2,988
20 935
3,793

n
2,016
675

(°)
n

14,903
2,407
1,273
(D)
6,362
(")
682
3,044

n
12,425
314
920
1,385
9,806

62 • July 1993

SURVEY OF CURRENT BUSINESS
Table 5.—Change in the Historical-Cost Foreign Direct Investment Position in the United States by Account
[Millions of dollars]
Valuation adjustments

Capital inflows
Intercompany debt

Net

(2)

Increases

(4)

(5)

Other

(10)

Increases in
U.S.
affiliates'
receivables'

(8)

(9)

Decreases

(3)

Net

Increases
in U.S.
affiliates'
payables

(7)

Reinvested
earnings

Total

0)

Total

Capital
gains and
losses, including
translation
adjustments
(11)

(12)

Equity capital

Total

(6)
1991

19,447
-2,686
3,781
4,561
13,792

25,446
-2,691
8,276
4,889
14,972

41,931
75
14,642
4,477
22,737

49,386
1,424
16,029
4,728
27,205

7,455
1,349
1,387
252
4,468

-18,450
-877
-5,912
-931
-10,730

Canada
Petroleum
Manufacturing
Wholesale trade
Other

7,757
40
6,865
-674
1,526

2,383
-265
1,762
-555
1,442

3,403

n

4,450
360
1,378

1,048
(D)
67
(D)
800

-2,501
-111
7
1
-142
-1,703

Europe
Petroleum
Manufacturing
Wholesale trade
Other

3,928
-2,586
-2,466
1,504
7,477

13,047
-2,281
5,657
1,647
8,024

20,311
-317
9,720
1,255
9,653

25,328
(D)
10,505
(D)
12,627

5,017
(D)
785
(D)
2,974

-9,519
-221
-3,265
-730
-5,303

Of which:
Netherlands
Petroleum
Manufacturing
Wholesale trade .
Other

-5,316
-869
-6,468
787
1,234

1,006
-982
-475
785
1,678

2,999
(D)
1,851
288
(D)

5,392

2,393

n
1,882

n
3
1

2D
9
1
()

4
(D)

United Kingdom
Petroleum
Manufacturing
Wholesale trade .
Other

1,711
-1,545
-106
453
2,908

4,382
-1,599
2,755
707
2,520

5,914
(D)
2,272
21
5
(D)

7,109
(D)
2,599
21
5
(D)

1,195
(D)
327

Japan
Petroleum
Manufacturing
Wholesale trade
Other

9,805
79
1,400
3,308
5,018

10,660
84
1,714
3,603
5,260

15,763
(D)
3,510
3,056
(D)

16,387
3
3,536
3,183
9,665

Other
Petroleum
Manufacturing
Wholesale trade
Other

-2,043
-219
-2,018
424
-229

-644
-228
-856
194
246

2,454

3,220
(D)
609
(D)

All areas
Petroleum
Manufacturing
Wholesale trade .
Other

1,311
-59
(D)

n

11
0
225
(D)

n
n

()
°

O

n
624
n
26
127
n
766
n
509
()
n
D

4,470
-645
489
869
3,756

2,505
1,245
943
-474
71
9

-5,999
5
-4,495
-329
-1,180

-309
236
-811
-372
637

-5,691
-232
-3,684
43
-1,817

2,102
228
775
-312
1,412

620
(D)
396
42
(D)

5,373
305
5,104
-119
84

497
(D)
-75
-10
(D)

4,876

2,254
-1,743
-799
1,122
3,674

4,664
-954
16
1
81
1
4,691

2,410
789
915
-311
1,017

-9,119
-305
-8,123
-144
-547

-359
-85
-648
-230
604

-8,760
-220
-7,475
86

-2,742
29
-824
-172
-1,776

749
(D)
-1,501
669
(D)

1,467
23
-1,214
536
2,121

718
()
288
-133

-6,322
113
-5,993
2
-144

-940

n
n
-656

-5,382
(D)
-5,663
(D)
212

-1,444
-174
265
1
9
-1,553

-88
(D)
218
437
(D)

1,932
-1,365
594
188
2,516

2,020

-2,671
54
-2,861
-253
388

593

-3,264

376
-249
(D)

263
(D)
362

-4,290
-55
-2,227
-4
-2,005

-813
(D)
430
51
5
(D)

-570
18
234
1,026
-1,849

243
(D)
-196
475
(D)

-855
-4
-314
-296
-242

-260
-4
-125
-128
-3

-595
0
-189
-167
-239

-2,140
16
2
-492
-55
-1,720

-958

-1,726
63
-636
-656
-498

-768

-1,399
9
-1,162
230
-175

-187

-1,212

1,965
-1,889
-454
1,344
2,965
1,482
(D)
379
-354
(D)

n
n

-165
24

n

-1(7D1
-£79

n

-330

37
-4

n

(D)
5,178
-110
D

-1,151

(D)
-3,124

(°)
26

n
-1,199
234

1992

5,168
-1,651
2,906
1,465
2,448

3,388
-1,878
4,039
1,849
-623

22,467
553
7,354
2,084
12,477

27,005
735
8,246
2,272
15,751

4,538
182
893
188
3,275

-11,573
7
-1,231
-1,006
-9,342

-7,506
-2,437
-2,083
71
7
-3,757

-990
-2,062
67
1,312
-307

6,516
375
2,150
540
3,450

1,780
227
-1,133
-385
3,071

-247
-119
-788
-166
826

2,028
346
-344
-219
2,245

1,696
-71
1,246
-123
644

-2,144
-493
1,198
33
-2,882

993

1,506

513
4
12
0
496

-1,041
-166
579
-174
-1,279

-2,096
(D)
75
164

-789
-307
762
98
-1,343

1,308

Petroleum
Manufacturing
Wholesale trade
Other

178
-4
-34
5
21
1

3,662
426

-65
(D)

3,839
422
48
-156
3,526

Europe
Petroleum
Manufacturing
Wholesale trade
Other

-2,787
-1,682
21
3
-808
-528

8
-1,502
1,052
-95
552

10,622
395
3,917
702
5,608

13,494
51
5
4,763
79
4
7,431

2,873
157
846
47
1,823

-4,742
302
-860
-598
-3,586

-5,872
-2,199
-2,005
-199
-1,469

-2,051
-1,428
-1,091
546
-77

3,821
71
7
914
745
1,392

-2,795
-180
-822
-713
-1,080

-95
-115
-401
()
*
41
2

-2,700
-65
-420
-713

Ot which:
Netherlands
Petroleum
Manufacturing
Wholesale trade
Other

1,987
-25
3,175
-565
-599

-1,491
4
51
8
-576
-1,500

1,741
16
1
-32
21
5
1,406

2,580

839
(D)
562
4
(D)

-850
396
-91
-96
-1,059

-2,382
-508
704
-731
-1,846

-1,758
(D)
1,170
-245
(D)

624
(D)
466
485
(u)

3,478
-28
2,594
1
1
91
0

238

3,240

()
233

United Kingdom
Petroleum
Manufacturing
Wholesale trade
Other

-5,669
-2,492
-51
-265
-2,860

-2,608
-2,402
1,088
12
-1,305

2,445

866

1,537
62

3,311
(D)
1,671
62

134
0
(D)

-932
-466
81
0
-76
-1,189

-4,121
(D)
-1,249
27
(D)

-383
-1,391
-873
398
1,483

-3,061
-90
-1,139
-111
-1,554

2
(D)
-16
(D)
73

3,846
-162
604
1,375
2,029

3,960
-157
680
1,253
2,184

7,748

8,268

520
0
33
72
414

-4,061
-74
-907
-219
-2,861

274
(D)
-196
579
(D)

908
-86
-162
470
687

-114
-5
-76
122
-156

-311
-4
-143
-75
-89

All areas
Petroleum
Manufacturing
Wholesale trade
Other

Japan
Petroleum
Manufacturing
Wholesale trade
Other
Other
Petroleum
Manufacturing
Wholesale trade
Other

2,413
265
826
1,021
303

1,563
274
1,109
658
-418

n
43
545
(D)

n

n

2,082
893

()
°
3,104
79
809
445
1,769

* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. An increase in U.S. affiliates' receivables is a decrease in intercompany debt and, thus, a capital outflow.




557
43

n

3

C)
51
3
255
(D)

n
n
2,116
965

n
3,737
11
0
810
515
2,311

n

633
2
1
()
*
70
542

-1,729
-55
-44
-14
-1,616

19
8
249
343
227
-631

91
4
-240
558
198
426

n
688

3,739

n
n
634
n
334
377
31
7

-110

n
753
-490
214
-29
1,057

83
-161
3,314

-1,501

D

D

'Q
-3,063

n
-1,123
-1,628
197

-1
67
197

850
-9
-284
363
780

-19
5
-210
-96
283

-67
869
-14
-73
459

NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, reinvested earnings
are shown without a current-cost adjustment.

SURVEY OF CURRENT BUSINESS

July 1993 •

63

Table 6.—Foreign Direct Investment in the United States: Earnings and Reinvestment Ratios
[Millions of dollars or ratio]
1991

1992

Earnings
Distributed

Total
All areas
Petroleum
Manufacturing
Wholesale trade
Other

-10,519

371
-2,773
-420
-7,697

7,931
1,247
3,139

-18,450
-877
-5,912
-931
-10,730

511
3,034

-1,319

980
(D)
99
(D)
384

-4,042

Canada
Petroleum
Manufacturing
Wholesale trade
Other

5,477

-1,521

n

170

(°)

Europe
Petroleum
Manufacturing
Wholesale trade
Other
Of which
Netherlands
Petroleum
Manufacturing
Wholesale trade
Oiher
United Kingdom
Petroleum
Manufacturing
Wholesale trade
Other

(D)

(D)

-393

2,872

(D)

(D)

-3,738

1,565

-1,927

816
1
433
145
237

30
-391

-27
-1,539
1,140

2,583

(D)

(°)
1,522

n

(D)
820

-3,335

955
(*)
36
89
829

-55
-2191

85

.
.

,

-1,175

519
105
132
26
255

-1,621

232
-360
.

-29

.

-1,465

(2)

1991-92 change in e£irnings

Earnings
Total

Distributed

-4,654

Reinvested

6,919

Reinvestment ratio'

-11,573

Total

Distributed

5,865

(2)

346

339

7

1,046
-560
-5,486

2,278

-1,231
-1,006
-9,342

()
(2)
(2)

3,820
-140
2,211

-1,041
-166

2

1,093

-174
-1,279

(2)
(2)

157
454
-37
519

-4,742

(2)

3,842

2

(2)
(2)
(2)

2
)
2

446
3,856

-25

.01
2

Reinvested

-1,012
-908
^861

4,681

-65
823

6,877

883
-75
1,388

-142
-1,703

()
(2)

-800

613
(D)
46
(D)
479

-9,519
-221
-3,265
-730
-5,303

2

()
(2)
(2)
(2)
(2)

-200

4,542

556

254

302

1,226
-261
-1,721

2,086

-860
-598
-3,586

()
(2)
(2)

2,017

300

1,717

-2,742

2

-491

359
1
120
31
207

-850

(2)

1,435

-457

1,892

-2,501
-727

(D)
624
(D)

).42

71

2

).97

29

397
29
-65

2

-824
-172
-1,776
-1,444
-174

1,257

-734

Japan ..
Petroleum
Manufacturing
Wholesale trade
Other
Other
Petroleum
Manufacturing
Wholesale trade
Other

Reinvested

Reinvestment ratio !

()
(2)
(2)
(2)
(2)

265
19

(D)

1,805

1,004

(D)
1,099

-55

2

1,289

-4,061

1
53
67

-4

)

2
H
()

-2,005

(2)

-2,140

126

I2)

-492

-1,255

54

2
2\

-55

i

-1,720

-853
-152
-1,693

(")
49
(D)
-1,272

1,168

474
(D
93
(D)
344

1,619

-1,059
-932
-466

-535

283
-77
643

(

2

523
2,405

132

366
734
75
717
512

n

-314
-114

-29
-198
-243
-253

-292

536
-96
364

18
279
334

17
-22
339
-45
(»)
-39
(D)
88

(2)

H

-1,616

(°)

367
(D)
409
(D)
192

H
()
2
H
2
()

-55
-44
-14

4,777

(D)

-786

563
-19

)

2

-1,729

-934

1 338
-237
-518

(2)

-74
-907
-219
-2,861

561
507
-32
424

(D)

366
420
-38
687
314

1,460

-53
-5
95

(D)

.54

.99
()
(2)
(2)
(2)
(2)
.44
(2)
(2)

-1,189

)

.92

2

801
-76

-74

(2)

2,385

(D)

-2,772

-4,290

2

396
-91
-96

(D)
-90

.17

-1,553

-2,227

1,866

-852
1,454

D
)
2
2

337

()
(2)

579

-367
-404

0

229
-20
1,320
-216
-856

411
-181

448
40
104

NOTE.—In this table, distributed earnings are shown before deduction of withholding taxes. Unlike in the international transactions accounts, as revised in June 1993, earnings and reinvested earnings are shown here without
a current-cost adjustment.

* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. Reinvested earnings divided by earnings.
2. Reinvestment ratio is not defined because reinvested earnings are negative.

Table 7.—Foreign Direct Investment in the United States: Income and its Components
[Millions of dollars]
1992

1991
Total
(= col. 2

Canada
Petroleum ...
Manufacturing
Wholesale trade
Other
Europe
Petroleum ...
Manufacturing
Wholesale trade
Other
Of which:
Netherlands
Petroleum
Manufacturing
Wholesale trade
Other
United Kingdom
Petroleum
Manufacturing
Wholesale trade
Other

(2)

-1,791
1,051
1,371

173
-4,386

-10,519

371
-2,773
-420
-7,697

on distributed earnings

(3)

less col. 3

All areas ....
Petroleum
Manufacturing
Wholesale trade
Other

(5)

(6)

(7)

(8)

2,470

787

346

4,277

613

111

3,399

5,126

1,727

-2,585

1,046
-560
-5,486

439
1
140
36
262

475
4
150
41
280

36
3
11
5
17

-60
-93
721
-137
-551

-800

1

8,055

1,700

4,639

-200

778

556

3,928

-9

-4,654

-1,061

-1,319

2,085

-4,042

228

6,355

n

448

587

127
(D)
55

3,629

3,934

483

579

139
304
96

1,795

2,955

1,161

-230

1,226
-261
-1,721

2,339

2,522

1,333

-491

67
955
206

69

183
2

(°)
(D)

n
n
87

466
714
143
11

397
29
-65

745

3,703

n
n
453

-83

(D)

3,195

1,805

106
485

(D)
-90

71
1
2
31
38

-1,794

-2,772

557
4
10
32
511

117

D

()

-1,998

-3,738

381
98
544
178

-1,927

-438
4,078

-1,539
1,140

662

(n)

3,168

1,522
-734

n

Japan
Petroleum
Manufacturing
Wholesale trade
Other

-2,085

164

85

-157

-1,175

Other ..
Petroleum
Manufacturing
Wholesale trade
Other

-687

-1,621

503
(*)
-20

-360

-1,170

-1,465

30
-391

-27

1,111
3,032

1,198
3,777

400

(D)

1,688

1,840

192
751

(D)
1,204

-3,335

24

1,274

1,346

-46

-55

-2,046

-2,191

0
7
14

8
148
85

9
150
116

1,033

1,071

17
0
3
1
13

952
271
363
9
309

1,509

232
-29

(12)

147
327
164

170
(D)

(D)

(11)

2,365

307
-88

-393

(10)

876

23
(D)
3
(D)
5

857

U.S.
affiliates'
receipts

4,607

-1,521

3,109

U.S.
affiliates'
payments

11,385

-1,105
-262

n

Net

728

9,020

275
373
41
820

152

163

-427

n

624
(D)

-852
1,454

193
7
84
15
86

9,341

2,024

449

563

3,315

3,590

566

715

114
275
149

2,987

4,473

1,485

373
1
97
24
251

420
5
107
28
281

47
4
9
4
30

136
3
76
8
49

4,975

6,586

1,611

16
0
7
1
8
56

70
692
209
870

75
751
215
917

2,306

3,132

n
25

170

(D)

1,415

1,516

(D)
26

119
602

1,179

1,013

1,097

8
139
87
779

8
142
1t5
832

956
214
301
23
418

1,238

6
(D)

-66

-74

34
(*)

-719
-938

-853
-152
-1,693

5
24

-315

-1,255

168
347
36

(D)
49

16
(")
2

-867

-1,272

n

n
12

-71

Interest (net of withhold ng taxes)

ing taxes
on distributed earnings

(9)

Earnings

4,280

257
-10




U.S.
affiliates'
receipts

Withhold-

292
48
136
20
88

32
0
20
1
10
94
(D)
42
(")
27

• Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.

Interest (net of withholding taxes)

IDG iBXGS

Earnings

nli ic t*r\\
piUS GUI. 4) A\

(D

Net

U.S.
affiliates'
payments

Total
(-col 8
less col. 9
plus
col. 10)

(4)

Withhold-

7,317

226

331

2,778

3,033

432

538

105
255
105

1,540

2,685

1,145

1,840

1,957

117
5
60
6
46
826
(D)
101
(D)
577

n

219
309
35
675

84
(*)
3
28
53
282
5
8
12
257

NOTE—In this table, unlike in the international transactions accounts, as revised in June 1993, income and interest are shown net of withholding taxes, and income and earnings are shown without a current-cost adjustment.

64

SURVEY OF CURRENT BUSINESS

• July 1993

Table 8.—Foreign Direct investment in the United States: Royalties and License Fees and Charges for Other Services
[Millions of dollars]
1992

1991
Royalties and license fees

Charges for other services'

Royalties and license fees

U.S.
affiliates'
payments

U.S.
affiliates'
payments

U.S.
affiliates'
payments

U.S.
affiliates'
receipts

Net

All areas
Petroleum
Manufacturing ...
Wholesale trade
Other

2,156

Canada
Petroleum
Manufacturing
Wholesale trade ...
Other

-16

57

n
n
n

(*)
6

n
(D)

Europe
Petroleum
Manufacturing
Wholesale trade ...
Other

1,757
17
1,513
127
100

2,081
17
1,664
235
165

298
0
166

U.S.
affiliates'
receipts

Net

359
0
174

17
1,655
444
40

Of which:
Netherlands
Petroleum
Manufacturing ...
Wholesale trade
Other

2,703
17

1,856
608
222

547
(*)
201
164
183

-445
-467
91
-345
276

74
0
9
12
52

-33
-27
150
-148

-9

760

(°)

752

874
(D)
800

34
438
0

61
0
22
18
21

77
0
6

301
3
231
26
42

159

737

1,025
31
225

-640

2,895
213
1,204
304
1,174

3,535
500
966
757

453
5
262
20
166

226
()

870
115
145
73
537

1,398

730
1
169
189
371

1,658
1

422
57
48
92
224

804
348
147
53
256

262
0
174

100
0
10

227
()

815
170
299
125
221

819
(D)
828

926

107
0
42

-528

1,260
2
254
535
470

485
0
163
359
-37

597
0
207
372

747
403
164
53
127

-31
0

19

-11

(D)
869
4

530
1

-165
-112
102
201

18

0
13
2
4

-287
238
-453
-138

186
—1

n
-105
-92

716
2,407

131
638

1,109
1,455
1,732
2,364

664
260
114
85
205

1,312

76
21

D
()

250
165

111
0

-929

45
12
54

-1
-58
-648
-222

50
0
24

-382
-291
-99

39
-31

227
837
592

property were $437 million, and payments of film and television tape rentals were $5 million; U.S. affiliates' receipts
were $6,500 million, $155 million, and $6 million, respectively.
NOTE—In this table, unlike in the international transactions accounts, as revised in June 1993, royalties and license fees and charges for other services are shown net of withholding taxes.

[Millions of dollars]

1987

1990

1991

1992

368,924

394,911

414,358

419,526

48,422

1,963
11,562

69,010
51,776
-7,390
24,624

6,339

25,446
41,931
-18.450
1,965

3,388
22.467
-11,573
-7,506

8,659

12,774

7,491

2,936

-1,791

2,470

Royalties and license fees, net payments ..
U.S. affiliates' payments
U.S. affiliates' receipts

1,249

1,105
209

1,001
1,244
243

2,156
2,703
547

2,114
2,797

331

1,499
1.863
364

Charges for other services, net payments'
U.S. affiliates' payments
U.S. affiliates' receipts

-530
2,306
2,836

-178
2,582
2,760

-50
3,128
3,179

-306
3,784
4,090

-445
4,396
4,841

-1,590
5,071
6,661

1988

263,394

314,754

59,581
34,319

58,571
45,046

579
24,683

1,580

56,239
-14,156

683

1. Consists of service charges, rentals lor the use of tangible property, and film and television tape rentals.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, income, royalties and license fees,
and charges for other services are shown net of withholding taxes, and capital inflows, reinvested earnings, and income are shown
without a current-cost adjustment.

361
-229
111
46
433

162
0
163

Table 9.—Foreign Direct Investment in the United States: Position
on a Historical-Cost Basis and Balance of Payments Flows,
1987-92

Income

6,661

D

-356

Direct investment position

5,071
302
1,647

582
47
52
155
328

n

Capital inflows (outflows (-))
Equity capital
Reinvested earnings
Intercompany debt

-1,590
-807
191
-1,016
42

445
1
237
152
56

217
100

-730
-1
-95
-328
-307

43
0
8

8

U.S.
affiliates'
receipts

19
1,788
190
123

n

-22
0
-13

2,120

1,675
18
1,551
39
68

1
312
187
183

U.S.
affiliates'
payments

Net

158
208
164

-78

522
0
178
326
17

17

2,427
278
944
507

D

* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. Consists of service charges, rentals for the use of tangible property, and film and television tape rentals. In
1992, U.S. affiliates' payments for service charges were $4,629 million, payments of rentals for the use of tangible

-15
0

111
117
59
118

2,393
251
1,094
360
689

-25

n
n

683

87
509

172
-18

159
308
-30

Other
Petroleum
Manufacturing
Wholesale trade ...
Other

2,797
19
2,031
582
165

406

()

n

Japan
Petroleum
Manufacturing
Wholesale trade ...
Other

2,114
18
1,719
395
-18

29
266

142

113

Net

Charges for other services*

4,841
795
1,478
1,155
1,413

328
1,570
809
1,689

D

United Kingdom ....
Petroleum
Manufacturing ...
Wholesale trade
Other




4,396

485
-82
149
28
390

325
(*)
151
107
66

U.S.
affiliates'
receipts

July 1993

SURVEY OF CURRENT BUSINESS

•

65

Table 10.1.—Foreign Direct Investment Position in the United States on a Historical-Cost Basis, 1990
[Millions of dollars]
Manufacturing

Total

All industries

All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
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
U.K. Islands, Caribbean
Other.
Africa
South Africa
Other
Middle East
Israel
Kuwait ...
Lebanon
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia .
Hong Kong
Japan
Korea, Republic of
Malaysia .
New Zealand
Philippines
Singapore
Taiwan ...
Other
Addenda:
European Communities (12)
OPEC 1

42,882

152,805

22,543

45,746

Petrole-

394,911

Food
and
kindred
products

Chemicals
and
allied
products

um

Machinery

Other
manufacturing

13,713

27,626

43,176

Whole-

Retail
trade

50,910

Bank-

9,242

trade

18,442

ing

Finance,
except
banking

Insurance

Real
estate

Services

8,361

27,121

34,939

30,592

Other
industries

19,616

29,544

1,373

9,201

984

550

1,874

1,833

3,960

2,292

-918

1,798

2,006

4,027

4,525

576

4,664

247,320

34,284

115,831

19,905

39,503

8,445

19,424

28,554

21,004

6,656

7,816

20,727

12,874

(D)
17
0

77

13
298
83
315

142
348
241
17

-1
623
(D)
4
199

54
-93

10,833
1

16,712

(D)

583
(D)
(D)

63
0

-4
161

o

625
3,900

0

/D\

132

0

1,379

n
n
n
1,066

819

/Dj

212

1,504
18,650

56
(D)

1,013
13,039

28,232
1,340
1,524

144

15,718

7
70
-5
(D)

167
2,195
64,671

773
792
5,484
17,674
98,676

1,004
D

()
(D)

I )

92
(D)

3,700

1,225

8,372

1,189

3,261

2,768

6,381

216
810
49
9

128
78
15
1
2

0

-53
41
2
-8

184
133
39
14

115
247
59
78

13,267

24,734

7,373

8,144

77
6
4
1,448

3,934

3,835

8

374
121
4,975
10,651
42,365

-1

(D)
( )

(D)
(D)

26

-9
19
1,477
1,644
14,031

1,196

o

213
138

9
0
D
()

6
545
0
-3

45
471

4,674

1,742

2,388

1,037

3,996

4,931

5,726

2,176

105
103

62
354
(D)
60

-2
(D)

(D)
(D)
699

(D)
4
145
202

78

n

152
564

-440

818

(D)
65
(D)
220

5,179

2,431

8,608

15

10

76

0

1,847

96

-6

4,308

988

2,233

1

-99
-46
(D)
-38
-3
(D)

360
^4

87
-7
89

66
0
6
60
0

1,406

-14
-14

n

26

D

93

902

2,166

(°)
(*)
25

3,948
17
(D)
2,497

n

60
(D)

242

0
()
979
328
(D)

223
0
(D)
133
(D)
0

-2
(*)

-13

-1

n
n

2
0
2

-9
-3
-6

-3
0

-54
-69

-2
0

1
(*)

420
27
395
(D)
0
0
(D)

553
443
1
0
3
34
71

850
(D)
88
632
(D)

6,656

247

n

0
(*)
169

D

()
16
(D)
(D)
(D)
(D)
0

n
(D)
0
n
0
n
0
(D)

1,327
4,473
201

n
(D)
-13
n
(D)
8

(°)

n
-1
n

2,675
2,599

21,006
2,174

(D)
69

326

n
(- 1
)
-5
(D)
-2

33,813
2,428

-21
(D)

1,629

5,908

220,874
4,216

(D)
22
66
143

0

1,377

836
398

0
(D)
0
0

-1

3
568
388
(D)

92,948
6,542
1,511
83,091
-1,009
56
157
77
1,289

8

348
(D)
-22
-25
(D)

8

13
(*)
22
-6
0
(*)

99
86

1,310

1,514
110

598
-62
235
473
-5
-42

4,425
640
1,805
-16
1,811

2,900

1,320

(IJ)
1,676

1,001
5

505
10
496

-1,248

5
3
0
2

775
(D)
681
0
-7

.

3,277
13,174

6,140

948

1,969

8,747

260

14,028
1,535
1,550
12,974
-2,979

179

2,751
2,921
4,737

6,506

496
504

o

17,145
88
32
-7
10

632

n
-6
-41
D

()
0
-2
(D)

n
n
18
0

44
(D)

(D)
(n)

(D)

4

n
n
n
0

0
0
0
0
0
0
0

0
(D)
0
0

1,391

251
(D)
801
6

/D\

-1

/D\

5

|D\

9
(D)
0

0
(D)
0
0

(°)
(*)
0

n

119
4

0

-10
-11

291
205
(D)

n

0

0

14
0
0

3,588

3,306

6,362

6,359

26,694

-18

810
(D)

479
148

651
13

769
604

5,341

5,595

26,148
-1,086
15
48
8

(°)

3,076

0

2

-1

n
n
15

o

fl

(D)

17,489
-1

()

(*)

2
0
2

98,604

D
(D)

-1

79
0

451
155

-4
(D)
0
2

161

66

0

2,332
41
0
0
0
(D)
(*)

n

6
32
1
1

-1

35
-1

148
25

n
n
9
n
51

182

35,342

7,168

13,541

25,064

-8

n

-2

-2

(D)
34
145

21
245

148

2,378

C)

o
(D)

0

-3,156

599

20,168

4,188

r
?

o

1,224

32

15,900

295

377
575

(Y)\

4,078

* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. OPEC is the Organization of Petroleum Exporting Countries. Through yearend 1992, its members were Algeria,




Primary
and
fabricated
metals

D

415
153

n
n
426

-37
178

I )
1,210
2,655

3,623
8,954

3,591

7,479

-4

0

22
2,394

-29
-2
-38
10
0
0
4,041

918
0
11
858
1

48
(D)
(D)

8

0
(D)
0

n
(D)

188

(D)

-21

57
81
/D\

270
2

0

2,122
18

-128

(D)
90

292

(D)
3
(D)

56
1,459

3,817

527
63

87
(D)

0
0
0

-9
0
-9

17
0
17

173

0
0
0
0
0

957

167
0
(D)
0
(D)

44
(D)
(D)
0
-2
D
()
-3

-4,576

0
(D)

fl
(D)
(D)
3
0

O

0
1

7,584
-1,246

42
8,873

131

2D
()

56

-1

154
172

18,590
1

6,408

7,531

310

395

179

46
85

0
0
0

2
-3

-196

5,970
8

a

4,012

272
6
58
145
26
37

(°)
(D)
584

2

(D)
(*)
-28
0
203
D
()
(*)

0
0

28

-1

956
-24
22

0

4

0

O

(D)

16,238

( )
-1

349
176

388
5

15,245
14
2

0

78
(D)
0
0
|D\

16,233

n

33
-1
(D)

26

(D\

10,410
1,015

r)
4
9,107
1,130

n

7,780
(I5)
0
-1
0

2
72

-10
168
100

9

(

?

8

-21
841
89
(*)
35
(D)
4

-11

0
(*)

15,914

13,059

154

84

Ecuador, Gabon, Indonesia, Jran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and
Venezuela.

66 • July 1993

SURVEY OF CURRENT BUSINESS
Table 10.2.—Foreign Direct Investment Position in the United States on a Historical-Cost Basis, 1991
[Millions of dollars]
Manufacturing

and
kindred
products

Chemicals
and
allied
products

Primary
and
fabricated
metals

Machinery

Other
manufacturing

23,773

48,414

13,164

28,584

42,651

55,471

8,876

1,851

1,969

4,622

1,618

-1,670

42,873

8,610

19,994

26,650

22,507

n

102

C5)

28
182
68
131

122
83
246
51

Food

All industries

All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
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
U K Islands, Caribbean
Other
Africa
South Africa
Other
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
Hong Kong
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
Addenda:
European Communities (12)
OPEC
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.




Petrole-

414,358

40,196

156,586

37,301

1,413

16,066

251,248

31,698

113,365

15,237

0
59

um

Total

488

(*)

144

3,089
1,301
1,305
24,155

n

1,323

28,618
1,823
2,705

27,400

10,530

19,470

11,757

-62

1
61
0
-1
119

2
14
179
22

43
146

2,395

806

390
(D)
-76
-30
(D)

958
(*)
34
43
(D)

15,466

8,543

816
(*)

3,304

2,872

6,282

1,986

82
210

n
21

142
352
55
495

5
-2
0

20

85
-6
-1
-28

7,463

1,142

4,614

2,681

5,460

n

24
-3

9
_1

137
539

1,531
1,437
13,781

D

()
0
(D)
129
14,355

297
2,443

334
110
5,189
10,927
42,259

1,017

<Di
(D)

911
-89
247
783
-15
-15

390

n
(*)
2,445

2,970

5,618

4,537

197
98
879

(")
76
6

_2

160
(D)
984

1,001
5,633

-158
1,884

-4
612
70
937
1,986

1,206
2,020

0

81

-7

n
n

D

5,184

1,405

4,154
9,952

()
4
348
133

69
-4
154
652

-2
-6

3,824

9,954

0

24

2

n

-453

1,068

2,353

1,858

-292

2,026

2,190

980

435

28
-3
36
-6
0
(*)

461
-30
-13
(D)
-12

177
1
-3
178
0
1

-134

379
-5
247
(I:))
3
(D)

151
28
82
37
-6
10

39
0
7
32
0
(*)

1,627

915
0
12
915
4
-16

(D)
(D)
0
(D)
0
-1

243
6
57
122
24
33

36
0
22
11

(D)
-11
55
77
(D)
(*)

0

()
-6
(D)

D

D

0
0
0
0
0
0
0

31,391
2,244

1,887

n

(°)

()
0
(D)

223 550
4.173

1,629

3,677

3
0
3

386

175

(D)
21
38
93

-62

D

o
0

1,156

0
(D)
0
0

86

D

68
29
-10
9
508
701
97

4,526

628

198
(*)

18,545

-3,206
(f:))
( )

n

(D)
(D)

195

842
(D)
808
1
-15

(DJ

310

2,686

-6
148
14
(D)

1,610

137

1,425

22,171
2,031

-1,483

n

34

n
n
n
100

2,806
2,664

1,291

0
(D)

0

282

(D)
-1
7

fl

45
(D)

18,775

1,818

23
819

n
0

(")
(")
898

n
6

(°)

-278

67
84

Other
industries

-1

3,727

()
81
-3
(D)
(D)
-1
(*)

(°)

0
-91

ing

3,390
14,721

8,699

n
-1

()
0

4

Bank-

2,623
3,117
3,241

1,392

-1
(D)
-2

1,142

-938

219
6
147

478
708

41
113
54
870

9,107

1,276

7,020

102,730
6,083
1,763
92,896
-618

4,921

6,352

3,581

4,639

99
59

975

2,723

n

-23

33,632

4,472

2,905

2,409

1,598

34,433

3,945

4,481

88

4,771
1,147
1,891

34,150

3,524

1,362

2,368

643
-14
657

10,691

2,038

15,053

36
-76

10,646
1,194
1,261
7,898
-904
1,196

21,548

2,888

18,267

538
455

Services

n

n
54

4,841

Real
estate

n
63

12,398

17,665

Insurance

-3
700
(D)
2
200

110
937

385

Finance,
except
banking

Retail
trade

590
916

59,355

1,155
5,684
19,189
100,386

n

sale
trade

931
(D)
(D)

-69
126
15
(D)
2

561

512

79
49
103
38

Whole-

D

()
-14

n

892
7
2

n
167
0

-52
-20
-54
-6
-2

14
7
0

72
(D)
(*)
22
45
(D)

3,298
19
(I:>)
2,291
47
(D)

259
160
304
(D)

1
3
-2

8
0
8

-1

-70

-1

o

n
n

(*)
0
0
0
0
0
(*)

81
(D)
0
0
0

-2
2
-3
0
0
-1
0

58
42
1
(*)
16
-1
0

()
18
-52

2,616

6,594

7,706

782
(D)

469
50

3,415

1,656

37
0
4
0
8

()
£
(-1)
0
D

()
-8

(°)
(D)
0

( )

0
-1
_1
0
D

n

-1
-6

fl

-91

o

918

2,314

n

0
(D)

496
224
314
130
462
231
0
(D)
144
(D)
0

-1,207

-9
-3
-6

n
n
944
(D)
67
792
65

1,947

(D)

()
0
19
D
()
2
51

308
0
308

0
0
0

-37
0
-37

0
()

283
(D)
4
0

0
0
0
0
0
0
0

1,160

n

0
(D)

836
758
16
0
-27
35
53

30,289

1,423

7,717

7,807

16,118

776
12

515
614

(D)
188

-90
154

(D)
152

5,699

6,882

1,108

7,057

9,229

11
29
-1
3
88
232
13

13
-1
-8
(D)
15

29,456
-578

(°)

18
52
-10
(*)
127
97

(D)
0
0
0
0
0
0

161
2
(D)
39
(D)
170
185

-28
0
24
(D)
0

779
(D)
(*)
520
5
0
30
(D)
0
0
(D)

-660

21,963

n

1,269

233
(D)
D

()
0

(°)
(°)
(D)
(D)
(D)
0

n
64

264
(D)

95 730

12 624

38254

7,296

14 081

23 476

20 068

6 498

8 024

-24

-3

-13

(*)

-5

-3

7

n

225

fi

D

o

n

-199

278
-2,625

n
0
n

0

-1

28
30
1,026

808
55

-2
1,178

-30
16
3
-5

n

209
8,520

SI

204
(D)
-8
7
188

D

2
()
0
D

n
n
13
(D)
(D]
0
-3

n
4

n
-5

12,157

1,461

534
130
650
102
0
40
(D

288
180

992
157

15,259

10,925

17
2
44
-1
300
24
7

n
n

10,000
1,227

18,598

11,938

36

61

0
3
(D)
10

n
1
(D

July 1993

SURVEY OF CURRENT BUSINESS

•

67

Table 10.3.—Foreign Direct Investment Position in the United States on a Historical-Cost Basis, 1992
[Millions of dollars]
Manufacturing

ana
kindred
products

Chemicals
and
allied
products

159,492

25,898

50,255

17,313

(D)
16,999

3,233

n

113,595
147
1,390
510
1,044
14,121

1,445

29,205
2,273

-172

15,050

n
n

145

553
400
30
54

-84
318

571
40
543
61,341

12,373

21,442

625

25
0

330

Food

All industries

All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
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
U.K. Islands, Caribbean
Other
Africa
South Africa
Other ...
Middle East
Israel ...
Kuwait .
Lebanon
Saudi Arabia
United Arab Emirates
Other ...
Asia and Pacific
Australia
Hong Kong
Japan ..
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
Addenda:
European Communities (12)
OPEC 1
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.




Petrole-

um

Total

419,526

38,545

38,997

1,342

248,461

30,015

387

0
(D)

4,066
1,308
1,385
23,808

1,290
6,923
19,562
94,718

4

n

125
11,863

anfi

114
4,981
11,124
42,208

0

44,218

(D)
(D)

13
(D)
(D)
3,994

(D)
2
1
2,438
8,540

Machinery

Other
manufacturing

13,182

26,381

43,777

56,936

9,267

2,492

4,897

1,495

812

8,719

17,321

n
90

73
(D)

26,338
31

21,699
124

5,393
-4

155

338
212
43
1,455

766
(D)
3
168

(D)
543

108

4,321

2,642

2,280

8,495

931
3

3,039

82
-1
10
1,308

-10
1

n
3
99
0

0
8,581

n
n
1,069

(°)
(D)
173

-2

96

Whole-

and
fabricated
metals

1,840

1,096

n

Primary

691
1,731
(*)

3,919
16,177

63

80
(D)
4,147

19
13
2,293
2,745
2,471

-5
133
3,432

sale
trade

Retail
trade

6,341

1,715

217
(D)
35

150
329
54
95

5
_7
0

3,412

4,895

2,669
149

12
-16
1,445
1,331
13,288

33

104
112
749
1,136
5,367
196

( )
1,460

(D)
84
1

41

Finance,
except
banking

Insurance

Real
estate

Services

22,848

10,962

34,030

35,244

35,363

2,095

1,803

3,691

4,816

1,079

4,552

9,877

-716

27,230

19,521

-15
(D)

10,931
1

10,916
19

-158

Bank-

ing

114

1,609

-2,808

917
(D)
782

-1,953

4,534

1,071

297
(D5
)

0
(D)
0
5

n
20
-15

4,803

107
4,611

5,091

(D)

(D)

62

1,347
4,147
10,184
0

361

2
68

1

-2
2,219

C)

91
3,111

8
653
105

( )

n

1,059
1,091

1,137

2,103

-3
D

(*)

2,334

5,784

113

1,364

-47

-114

4,468

1,415

1,491

1,843

17

7,378

887

1,048
-105

56
-4
69
_8
0

387
-16
-19

97
-1

-182

690
-11

158
34
123

29
0
9
20
0

1,623

4

n

485

972
0
16
949
1
7

1,258
112

1,462

220

0
(D)

502
502
456
11,518

989
1,577
8,453

38
460

(D)

(°)
(D)
1,447

n

1
1,485
(D)
(D)

635
-17
652

n
0

4,813
1,131
1,893

(D)

-29

0
(D)

1,642
121

56

(D)

0

-1
(D)

107,725
7,140
1,714
96,743
-496

2,871
2,892

54

0
0

108

-2
-13
-2

595
553
40
-35
4,736
24
1,134
3,378

200
(*)

0

56
(*)

-4

n
46
n
977
0

-9

8
53
0

n

3

n
-12

o

(D)
_5
(D)

3

(D)
117
(D)

0
0
0

$

( )
( )

0
0
0

-1

-6

o
22,461
1,826
184
19,149

76
22
-10

0

0
D

( )

-11

0
-5
0

n

-10

3,343
(*)
-2
-6

I)
7

4
(*)
13

(D)
(D)

(D)

50

0

O

-12
10
-22

-2

-2

-2
-1

-1
-1

C)

o
(*)
0

0
(*)
(*)

0
-1

0

720

6,609
413

1,781

n

5,805

38

15

15

0
5

21
1
1
50
215
34

2,682

405

n
n
75

256

114

219133
4,222

29 525
2,133

95,842

14,376

38,879

7,201

38

-3

22

n
n
0

39

n
n
0

8,037
714
4
7,278

-4

692

75
66
0

n
59
o

0

847
1,154
402

5

-6

577
(D)
3
(D)
3,778

0
(*)
0

59

-74
-23
-71
-9

68

-144
5

n
0

-60
943
8
2
(D)
4

-9
107
0
(*)

0
3
-1

H

53

12 049
-8

fl
-1
14
(D)
6

23,337
-4

4

529
186
(D)
r)

-955
821
(D)

/D\

-2

105

3

7
53
70
22

(D)

1,841
31
14
746

0
(D)
0
(D)

31

0

0

o

(D)

0

-56

672
589

(D)
(D)

2
0
2
0
0

1,165

0

2

0

32,246
640

763

1,163

(D)
225

30,831
-371
49
125
-1
31

930
(D)
0
0

97

0

84

o

19,294

28

0
0

5,346

n

8,364
-290

241
7,882

118
-18

2
38
32
188
171

8,917

257

n
0
n
0

0

60
(D)
3
47
0

-56

(D)

-2
1,182

-37
27

0

-7

814
165
2
587

16,363

n
0

11

-27
0
55
(D)
Q

-1,290

(D)
(D)

P
n
(D)
21,427

O

n

100

917
297
(D)

5

9,760
(D)
0

1,344

880
170

9,241

(D)
250

26
-7
7
-413

135
-1
124
10
1
1

( )

n
n
n
n
n
0

0
-34
35
(D)

1,336

214

-3

0
-1

n

O

1,479

(D)

fl
(*)

10
41

2,025

-97
(D)
(D)
177
140
(D)

-33

184

2,294

(D)
(*)
-3

1,322

354

123
(D)
0

379
(D)
-91

7,080

686
8

n
(D)
0

5
899

772

0
(D)
164

-2,188

76
166

22
3,413

9,271
3

1,290

292

16,839

18

n

4,414

132

320

2
15
170

63

18,895

1,184
4,732

59
0

-1
0
196
1,613

60

416

(*)

(D)
(D)

188

Other
industries

352
169
15,429
2

28
-2
316

0

n
n
( )0
( )

(D)

5

13,236
1,338

-5
11,820
(D)
-1
(D)

0

4

23

87

35

-11

10,525
1,275

18,625

33

-5

n

-12

77
72
(D)
-1

(D)
-45
90
(D)
-46

6
178
(D)
(D)
14

n
4
0

-3
(D)
-7
965
603
-114

370
99
1
7
( )
5

—
7
(D)
10,922
91

68

• July 1993

SURVEY OF CURRENT BUSINESS
Table 11.1.—Foreign Direct Investment in the United States: Capital Inflows, 1990
)Utfl0WS
[Millions of dollars; <
Manufacturing

All industries

Europe
Austria
Belgium .
Denmark
Finland
France

um

Total

48,422

663

1,821

All countries
Canada

47

21,549

227
.

Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
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
UK Islands, Caribbean
Other
Africa
South Africa
Other
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
Hong Kong
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
Addenda:
European Communities (12)
OPEC 1
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.




115

165
386
5,987

585
-138

429
-8

-34

o

P)

P)
-2
P)
-691
-1

P)

P

1,851
7,163

966

288
188
443
-633
4,519

Food
and
ana
kindred
products

Petrole-

17,053

692
10,223
39
228

108

-138
181

4
3

-568
41

o

-60

P)

P)

4,208
1,573
741*
4,456
-2,552

570

P)
12
P)
P)
P)
P)
0

P)
P)

57
-14

P)
7

2,423

P)

625

1,668

39

P)
P)
P)
P)
P)

0

-27

p)
0
p)

P)
P)
P)

2

P)

n
()
*

P)

3,609

P)
153
P)

-207
2,318

-105

P
-1
_1

84

P)
-1

20 836
-700

-151
-617

778

37
-9
98

P)

241

263

P)
10,135

P)

P)
P)
P)

261

P)
P)

2,396

23

102
2

-4
(*)
(*)

0
(*)
883

1

P

P)
P)

-99

-393
3,886

63
19
(*)
22
-4

0
(*)
45
0

(*)
-2
2

P)
P)
P)
P)

0
0
0
0
0
0

1

p)

0

501

-119

P)
P)8

P)
P)

-5
2
444

-11
-4

55
24

558

-622
-545

-249
-382

-271
-121
-319

P)

6

P)

2,579

434

-35

P)

n
4

P)

0
-2

P)
P)
P)
P)

18
0

P)
P)
P)
P)
P)

0

0
0

0

0

660

P)
88
P)1

P)
590

P)
388
P)0

- 1 414

-2

8
3

P)

7,744

-5

-53
-53
13

P)

1,063
128

P)
16
P)
27

-3
168

P)

0

0

-975

114
1

281
-11

-1

357

-277
-14

0

0
0

2,060
20
-218

0
2
1
5

-22

P)
P)

2,185

952

P)

0

228

-3

P)

-2
51
-4
0

925

-204

615

-36

-3

401

-104

144

P)

237

0
0

p)

p
2,277

P)

-1
(*)
452

47
11
1
1,401

P)4

P)

-17

P)

P)
17

-7
-21

161

P)
P
\ i

0

P)1

o
o

P)
-9
o

-477

-15
-683

-2

P)
14
P)

-33
245

o

P)

4

—20
-367

P)

-70

Pi
P

P)
P)

-212
1,694

1 078

233

183

P)

P)

-18

140

35

O

P)
P)

52
0
2

P)
P)
0
P)
o
-1

-18

P)

P)
18
P)
o

-1

52

423

355
—49

P)

P)

P)

P)

o0

-1

8

-1

0

P)
P)

-1
0

-9
-9

-1
0

O

O
23
22
2

o
(0)
*

P)

0

0

P)

488
226
-35
252
13

4,980

-9

-58

0
0

P)

P)

P

-4
0
-4

-22

6

P)
0
P)
-5
1,515

19

-3
-221

n
n4
2
-2
-4

2
-34
8
1

-7

494
1,374
9

-3
-27
-11
1 356

P)

-2

-5

-7
-1

7
-1

0
(*)

P)
P)
P)

p)

-240

1,825

61
-58

12

P)
-3

-2,878

35
0
-13

-10

62

-221
7

P)

'P)
P)

P)
P)
11

o

P)

P)

7

-13

P)
27
36
7

1

p

P)

0

-74

P

O

-74

-3

P)
P)

0
0
0
0
0

57
-1
88

P)

-70

P)
P)

1

0

P)

0
(*)

601
536

P)0

21

P)

0

-3

P)
-5
P)
41

2
45
27

0
0
0

P)

P)
41

174

17

p)

-10

-221

1,750

2 369

2

389
2

-916

6

-64

-422

1
—1

-1

-10
208

-2

6
46
20

p)

81
1,320

-8

P)

P)

2,867

P)
P)

-10
-26

12

-4
53
1,127

P)

-89
-5

-44

168
5,235
-461
16
-11

P)

23
778
0

1,629

-1

0

-1,054

-5

-3
-26

-8
-2
1
-10
129
18

P)
o

-15

43
0

2

-20
10

1
1,768

251
0

n2

33

o
P)

138

-76

P)
76

o

3,197

1,033

541

-6

1

(*)

_4

398

4,878

-1822

0

0

n
(*)
o

3,875

155

91

n

1,118
197
-202
1,001

o
P)

1,124

10,545

358

-2

0
(*)

[

3,390

73

-1
84

-1

0

-2,671

6,608

tries

74

4

P)
0
P)
P)

4,358

562

-26

Other

Services

-2,451

P)
P)
P)
P)

-26

Real
estate

320

6

P)
(*)

-3,374

Insurance

81

P)
-15

Finance,
except
banking

0

P)

-107

-2
-21

ing

7,368

1,975

32

P)
P)

Bank-

627

_6

93

-158

P)

Retail
trade

5,877

P)

P)

269
0

5
-5

Wholecoin
Sale
trade

P)

-1

O

-1,438

Other
manufacturing

5
29
12
128

P)
-4

196

-1,101
1,790

104

571
-48

-5
370
356

2,350

-544

870
-72
16

20,474
1,279
259
18,754
-698
19
56

7,388

-3

4

P)
-1

-613
-13
-33

-1,131

99
65
868

8

543

-7

88

P)

992

5

577

12

638

-46
224

49

3,037

75

1,910

2,480

-613

8,459

-110

-528

1,113

-B

-897

330

5,199

-16
8

Machinery

-60

P)

-10

Primary
and
fabricated
metals

179
5,656

3

-18

Chemicals
and
allied
products

(*)
0

P)
0

- 2 674

P)

0

0
0

B
7

33

0

P)

-18

-1

P)
5,649
115
28
5,648

5

8

0
3

-8
P

P)

0
0

P)
2,470
-1

0

0

P)
0
p)
P)
(*)
3,651
-167

P)
3,748
P)0
(*)
0

54

P)
P)

0

-1

P)
P)

P)
P)
P)
118
-4

fl
P)
5

P)
P)
P)

p

n

1,068

4,914

3,232

67

(*)

P)

0

-53

NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, capital inflows
are shown without a current-cost adjustment.

July 1993 •

SURVEY OF CURRENT BUSINESS

69

Table 11.2.—Foreign Direct Investment in the United States: Capital Inflows, 1991
[Millions of dollars; outflows (-)]
Manufacturing
Food
and
kindred
products

All industries

25,446

-2,281

5,657

n
-2

12
-66
388
-60

4,462

n

2,167

74
-1
250

475
-175

-57
-1,077
1,006

um

Total

Machinery

1,331

3,489

-821

1,996

2,281

4,889

-753

3,108

3,455

4,989

597

3,201

-21

154

886

-555

-752

223

1,399

-460

245

596

191

920
14

1,647

-747

-293

4,883

-44

-2
77

27
(*)
-2
0

2,929

-19

1,269
-119

3
fD)
()

789
0

2,963

-614

1,599

n
n

-50

o

n
2

2
(D)

282

n

(

1,449

270

566
88
208
-13
-86

-189

939
-3
(D)
0

-504

48

n

3

C)

D

()

l?

1
—34

n

Other
manufacturing

-196

-5

-4
33
-80

-183
-288

127

193
163
-69
-3

14

-20

8

13
-4
172

32

691

-538

785

n

(D)
(D)
94

-1
-3

18
-21

92
-6

-101

53
82

-253

-584

-120
112

3
C)

-475

170

-88
-830

n
(25
)

-39
-13
378
533

n

(D)

-1,599

2,755

fl

333
50
2,066

-641

n

32

128
(D)

n

0

19

n

-1,513

22

-715

67

-33

-31

-54

-665

n

n
()
*
o
n
0
n
n
\)
n
-11

4
-1

373
274
1,490
4,382

Latin America and Other Western Hemisphere

321
97
132

South and Central America
Brazil
Mexico
Panama
Venezuela
Other

119

19
-47
-1,834
-364
-234
-3,701
2,151

Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U K Islands, Caribbean
Other

314

Africa
South Africa
Other

90
-84
174

Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other

465
500
213
-6
-213

o

7

-150

6

n
-1
n
2
n

-22

-2
11

15

11
-157
-9

27
-565

(°)

n
n

-504
-255

45
(D)

.

7

0

n
n
0

3

0)
(D)

1

0

0

(°)
-1

73

3
C)

n
n
-1

n

(*)
1,490
-153
-116
1,714
-20

* Less than $500,000 (±).
!)
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.




11,488
61

0
1

114
45

10,660
333
-14
(*)
-28
-419
312
-10

61

n
n
(°)
48

n

10,975
-200

339

-2
0
(*)

n

-28

Asia and Pacific
Ausiralia
Hong Kong
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other

-6

n
84
n

-3

n
n
1

-2

4

-125

n
0

258
-59

-2,137
-165

4,813

—3

0
0
0
0

-16
1

n
-6
(°)

n
0
n
n
()
*
n
D
()
n
n
(D)
n
0
0

0
0

n
-1

0

0

n
-265
n
103

n

1

I
?

36
(")
338
(*)

n
3

n
D

i 2)
479
-2

287
27

n
n
0

-982

-216

Wholecalo
saie
trade

-113

87

Norway
Spam
Sweden
Switzerland
United Kingdom
Other

Addenda:
European Communities (12)
OPEC 1

Primary
anri
ana
fabricated
metals

1,762

465
74

Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands

8,276

-265

13,047
-143
-540

Europe
Austria
Belgium
Denmark
Finland
France

-2,691

2,383

All countries
Canada

Petrole-

Chemicals
and
allied
products

103

C3)

0

n

159

-32
-2

3

C)

-18
-3

n

-669

(°)
0

-233

1
(D)

8
(D)

4
1

1
(*)

0

0

0

n
-164

-38

n
-138
-4
0
4
0
D
( )
-1

C)

-3

72
(D)
0

0

3

n
1
2

ing

Finance,
except
banking

n
n
-15
3

1,079

-184

64

-495

1,396

0
-6
0

n
124

('*)
( )

0
(")
0
0

-2
-4

-110

(D)
11
(D)
-49

1
-23
-458

C)

H

1,901

131

225

n

o

-15
0

219
84
71

-3
0
58
3
-64

-469

32
-6
-17
5
-17

-15
0

C)

n

37

6

146
0

5
0
( )
6

n
-118

n
113

1

l5

( )

287
-95

n
(D)
0
(D)
(D)
(D)

5

D

n
0
5
0
5

0
(D)

1,076

(D)

3

-27
-37
63

fl

1,486

C)

0

10
707
84

Insurance

n
37
n
63

5

-68
264
(")
862
461
-31

2

3

3
C)

n
n
-1
(°)

-21

n

( )

1,786

Bank-

Retail
trade

n
39
-541

-4

n

i13)

230
100
533
0

n
(D)
3
o)
0

(°)

(*)

-1

0

0

0
( )

-31
1
-18

221
-15
-90
343

1,138

3,799
-285

1,108

273

6
-3
-1

-23
-1

0

O

-97
92
-13

n

n

2,515

-688

1,559

-6

n

-3

0
0

129

n
1,068
D

( )

I)

10
(D)

-51

947
—
1

111

10
3,603
449
3
5
-19
-47
39
41

n
0
D

620
(D)
100
523

(°)
0
0
0
0

-47
52
1,046
31
-4
(D)

-9

0

n
20

1

15

1,708

-683

499

6

n

22

n

(°)
(*)
(*)
0
-179

n
()
*
217

-1

-28
-28
107
(D)
(*)
206
-67
-120

42

C3)

-54
-4

(°)

-308

n
-22
54

C3)
C3)

417
0
-19
-2
(D)
-530
-4

-2
-86
-16
70

-221

-3,179

C3)

-30

64
2
60

3
C)

-n
1

-191
10

-3,242

-7

n
-5

-440

-3,223

fl

255
-8

-21

0
0
0

-28
0
-28

0
0
0
0

212

0

C3)

-12
36

2,585
1

n

C3)

376

2

n

n

110
370

-1

C3)

-4

0
(*)
0
(D)

_•]

1

301

-1

( l3 )

o
o
3

3
C)
()
0

18

-1

-60

()
0

-49

278
311
15
0

2
11

-22
-3

0
148

n
(D)
n

Other
industries

Services

D

n
n
-2
1,972

Real
estate

_1

231
-7
-7
-1

n
n
0
(°)
n
1

C3)

10

-3
-4

f3)

n
n
-15

220

C3)

-74
-2

24

C3)
3

C)
-31

C3)

n
n
0

n

n
-2

0
(D)

-1

0
0

-5

3
C)
()
1

361
-3
2

2,871

160
(*)

437
3
(*)
11

2,780

-57

n
n
n
0

12
(*)
8

0

-2

(°)

(°)

n
1

•

o

-5

n
0
4,197
-1

1

-85
221

(;;)

48

C3)

2,899

2

151

n
n
61
-22

NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, capital inflows
are shown without a current-cost adjustment.

70

SURVEY OF CURRENT BUSINESS

• July 1993

Table 11.3.—Foreign Direct Investment in the United States: Capital Inflows, 1992
[Millions of dollars; outflows (-)]
Manufacturing

All industries

All countries

Food
anri
ana
kindred
products

Petrole-

um

Total

Chemicals
and
allied
products

2,096

2,247

Other
manufacturing

231

-2,022

1,486

1,849

-2,210

1,246

-102

-1,176

69

-20

515

246

33

-482

52

-1,584

-770

350

-2,537

-153

-95

-626

269

-745

-114

-6
(D)

3
8
-58

637
30

n

53
(D)
(D)

3,388

-1,878

4,039

-493

1,198

8

Europe
Austria
Belgium
Denmark
Finland
France

-1,502

1,052

1,776

2
105
-66
132

0

(D)

310
(D)
-12

n
n
-84

n
32

-41

-911

n
n
n
82

168

-237

-383

1
-290

-47
-1

218
2

-245

-278

-4
-6
2
-638

n

68
7
(D)
13
283

-7
16

3
-14

-296
-366
-583

19
-83
155

-117

947
48
56

fl
n
n

-468

353

1,389

-337

-365

-14

390

Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands

(D)
-3

257
-222

192
-2

-6
130
581

n
n
1,215
n1
-

-250

-40
6
-1,491

(°)

n4

528

n

-5
5
-68
387

-2,608

Norway
Spain
Sweden
Switzerland
United Kingdom
Other

-2,402

1,088

98
112
1,381

(D)
0

26

1

-7
266

9

841

-81

1,334

-195

South and Central America
Brazil
Mexico
Panama
Venezuela
Other

543
21
476
50
-40
36

-129

218
-17
347

30

n

-20

Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U.K. Islands, Caribbean
Other

297

48

-179

( )

1,116
1

287
416
511

2
60

316
799

n
n
(D)
0

-1

Latin America and Other Western Hemisphere

-736

-6
-3
-3

Africa ....
South Africa
Other .

4
-23
13
-7
2
23

Middle East
Israel .
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other .

(D)

fl
n

/D\

|D\

0

4,685
663

5
3,960
46
13
-23
8

(°)
0

-147

55

n
(D)
(D)
n
36

n

(°)
(")
(D)
-5

r)

Asia and Pacific
Australia
Hong Kong
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
Addenda:
European Communities (12)
OPEC

Machinery

-2,144

Canada

(*)

70

460

227
4
-157

-112
-11

-15

n
(0)
*

-22
7
28
..

* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.




( )

- 1 938

- 1 687

26

1
D

-2

-96

680
9
-8

o

-4
-103
-8
17

601
46

Finance,
except
banking

Primary
and
fabricated
metals

-2
34

1,656

(°)
0
91
-451

n

211

1,329
-1

-79
(*)

812

-126

1
14
—5

n
58

-225

811
0
(")

n

-48
0
(*)
0
(*)

0
0
0
0
0
0
0
(D)
-37
(D)

50
2

8
n
11
1,767

2

n
n
36

171
633

-3
0
0
5
C)

n

-8
-10
172

(°)

n
n0

n
n
D
()
n0
-4

0
(*)

-73
_1

74

(*)

(13)

fl
-8

-64

_1
(")

(D)
8
-6
204

12
60

-759

0

5
21
32
(D)
108
-26

n

-150
-794

0

0
100
5
(D)
-2

-1
-1

-8

(*)

-5

41

3

C)
0

n
n0

48
4
-8
2
-1

-37

0

60
-15
87
(D)
-27

n
n
119
98
(D)

fl

21
( )

n
n

(D)
0
(D)

5
0
5

-102
D

/»)
D

( )

n
n0

1
0

0
(D)

566
58
-8

1,748
124

-238

154

n
-6

511
3
2

1,253
117
31
72

-86
(D)
0
0

9
31
-30
-12

0
0
0
0

-54
21

-822

n
n1
-

-17

20

6

48
-3

-1,939

-106

-3

-1

n
n
22

-207
-170

(D)
0
-48

fl

682

-188

(°)0

O

59

160
(D)
(D)
10
324

n
(D)
0

5

-22
14
-583

(D)

n

297
-78
131
273

8

33
(D)
640
-6

-12
116
-407
1

-5
13
33
143
-225

-325

314

-222

-59

101
-1
103

n1
-

1
-4

-1

22
-5

!?

n1
-

(

n0

-266

214

3
-24

(n)

(°)
18

-115

37
(D)
(*)
0
0

(D)

2
0
2
0
0

-434

24

74
115

161
(D)

-19
0
-19

(D)
0

3
-1
3
-7

(°)
-2
n0
n
n
n

(")

—32

(D)
—30
-2
-11

8
(
n*)
n0

0

11
-1

0

-2

940

63

175

n

(°)
2

-17

362

45
-46

934

-285

n
(*)
1

-10
211
-6

-198

92
(D)
0
(D)

(*)

0
(D)

-33
555

n
13

31
(D)
0

s

-580

-984

756
2

-1

3
6

20

-52
-2
-2

148
763
-28
-20
(D)
3

-2

-90

n3
3

0
(D)
0
(D)

0

( 0)

n

(D)

(D)

3
i'D)

-1

-908

o

H

H

(°)
832
51

n

n

-84
123

25
0
(D)
17

-41
-55
3

1
0
-5
-1

750
0
-25
-2

-845

n0

00

-15
-4

57

0

(*)

-1

-11

P)

-6

n
n0

n

-34

0

93
0
2
32

0
0
(*)
(*)

126

-151

3
C)
(D)

253

o

-49

1,292

53
31
-38

-10

-28
-9
-55
(*)

63
(D)
51
1
13
191

77

81

-5
0

n
95

-9
0
3
-12
0
(')

-13
7
-20

0

-1,325

-1
1,017

-854

n
n

-426

-1
-14

13
6

479
(D)
(D)
(D)
10
(D)

-214

-22

0
(D)
-79

121
-27
248

-94
14
-140
140

-1

1,763

757

-169

-26

Other
industries

Services

n

(D)

71

-3
-4

Real
estate

-2
0

-1
1
-576

41

Insurance

374
0
2
20

309
-6
328
(D)

105

0

71
0
-5
0
(D)

ing

787

-53

-8

113
9
-23

-2
65
(D)
(*)
-29

Bank-

56

-A
-17

n0

1

255
-34
-8
177

Retail
trade

-49
-22

-6
-64
0
-2
5
C5
)
C)

Wholecalo
saie
trade

0

1

n

1,098

(

?

-1
(DI

-2
-313

-2
1
-18

-45
-1
16

n0

n
28

(D)

(°!
-7

_2

(Dl

-32
47

271
-3

592
21

1

n

NOTE—In this table, unlike in the international transactions accounts, as revised in June 1993, capital inflows
are shown without a current-cost adjustment.

July 1993 •

SURVEY OF CURRENT BUSINESS

71

Table 12.1.—Foreign Direct Investment in the United States: Equity Capital Inflows, 1990
[Millions of dollars;

outflows (-)]

Manufacturing
Food
and
kindred
products

Chemicals
and
allied
products

Primary
and
fabricated
metals

Machinery

23,081

2,894

5,355

1,632

4,378

8,822

6,359

461

3,481

978

P)

(»)

18

139

476

142

58

319

491
0
46
0
0

16,344

2,223

4,527

2,377

6,262

2,097

0
0
0

P)

0
0
0

7,081

n

4,467

P)
P)

P)
59

2,659

P)
2
P)
P)

115
0
-76
0
0

1,268

n
s

955
0
1
0

471

P)

4,542

2
0
0
0
0

1,870

0

885

P)
1

P)

1

4,697

n

1,854

0
0
290

69
0
0
0
0

524

P)

378
0
49
0
0

900

29
60

P)

P)

0
0
0
0

0

All industries

All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom
Other

Petrole-

um

Total

56,239

1,258

3,213

(»)

32,403

154

n

235
170

81
549
5
457

166
629
2,487
11,057

7

n
o

168

0

n

502
1,574
5,596

o

n

-222

0

n
0
n
n

-29

0
0

0
50

0
4

0

0

0

P)
0
P)
o
p)
p)

P)
P)

P)
P)

P)
P)

p)

n
n
o

p)
92
P)
o

0
0
0

(D)
p)

P)

41

0
40
1
0
0

0
0
0
0
0
0

Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U K Islands, Caribbean
Other

38
0
0
-2
40
0

0
0
0
0
0
0

Africa
South Africa
Other
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
Hong Kong
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
Addenda:
European Communities (12)
OPEC
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.




2

2,085

19

1

0

(D)
0
716

n

n

619
655
(n)
78

P)

n

152
39
84
0
19

O

11
17,364

985

5
15,701
143

39
21
-1
77
346
50

n
14
2

n

(D)
4
0

n
(D)
0

0
0
0

68
0
68

(D)
0

p)

n

p)

16

4
4
0
0
0
0

0
0
0
0
0
0

0
0
0
0

0

0
0
16
0

o
258
120
0
(D)
2
0
0
0
0

P)
0

28,870

491

319

n

o
4,631

464
-155
3,970
37

n
1

n
n
38
14,058
4

0
460

P)

945
23

P)

P)
P)

P)

South and Central America
Brazil
Mexico
Panama
Venezuela
Other

447

113

0
0
679

0

( )

ing

175
14
80
0

79

0
150
(D)
0

Bank-

-4
0
0
0
0

1,056

0

Retail
trade

153
0
-19
340

(»>)

f)

p)

Wholecalo
saie
trade

10
1
0
445

1

3,029

Latin America and Other Western Hemisphere

0
93

Other
manufacturing

0

0

0

o

o

254
0
0

754
0
0
754
0
0

0

110
2
(D)
0
0
0

n
0
1,660

0

0
0

p)

0
0
5
0

67
0

o
0
0
0
0
0
0

n

452
1,648

o
P)
P)
0

P)

12
4
0

P)

0
716

3
0

0
(*)
0
0
0

0
0
0

0
0
0

0
0
0
0
0
0

4

n
2

o
p)
p)
0

4

0
0
0
0
0
1,857

P)

P)

24
150
(*)

360

o

(*)
-2
0
63
269
7

438

127

88

5
0
0
5
0

0
0
0
0
0
0

47
16
12
33
-17
2

127

41

0

0
0

o!
433
-1

1
1

587

P)
0

P)
0

2

0
0

0
0

n
-3
1
0

0
0
0
0

P)

0
2

132

n

0

p)

4,381
0

886
0

68

3,503
73
18
-4
0
0

1,221

4,978

0
0
0
0
71

0
(*)
0
0

0
0

1,194
0
1
1

p)

1,239

P)

131

130
0

P)

P)

P)
P)
P)
P)
P)

0
-39
0

P)

278

383
17
0
0
0
400
-1
0

P)
324
P)
o
P)
P)
P)
1

P)

0
0

51
0
0

0

P)

0
0

0
739

70

0

P)
P)
P)

P)

1,063

o
114
0
0
114

44

0
0
0
0

P)
P)

0
0
0
0

o
161
0

p)

o

1,769

926

73

P)
0

P)

o
176

36
26
0
0
0
(*)
11

36
44
254

114

0
0
0
0
0
0

0
0
0
0

P)
P)

p)

0

3,683

P)

170

2,840

1,855

0
0
0

o
p)
p)

0
887

\ i

156

0

0
0
0
0
0
0

-155
1,632

8,238

994

0
0
0

0
0
0
0
0
0

P)
P)

0

P)
P)
0

p)
0

o
2,995

P)
39

920

P)
P)
-4

0
0
0
0

(*)

P)

9

0

p)

P)
0
P)
1
P)
18
P)

1,088
-22

1,531
0

2,284

1,134

0

P)

P)

1,824

5,306

2,066

113

0

4

0

0

5

o
P)

O

495

o
87
6
0

P)
12
P)
P)
P)

(*)

38

P)

2,177

0
33

P)
21
P)

P)

18
102

1,557

0
0
0
0

0
0
0

81
0

P)

P)
2

1,387

0

P)

2

0
0

0
0
0
0

0
13

2
-2

131

0

0

0

34
0
0

0

o
p)
p)
0
p)
5

P)

0
0
0
0
0
0

O

10

139

0
0

1,679

5,453

n
0

0
0
0

tries

P)

0
0
0

0

0
0
0

0
0

Other

Services

3,368

P)
P)

P)
P)

Real
estate

2,862

P)
P)
0

P)
P)

o

Insurance

0
0
0

390
0

P)
P)

P)

Finance,
except
banking

2,700

0
1

0
0
0

6

0
0
0

0

3

3
0
0
0
3
0
0

P)
P)
P)

P)
P)
P)

203
76

0
0
0
0

P)

2,640
0
0
0
G
0

125

0

0

0
0
0
0

P)

0

0

4,956
3

1,149

P)

SURVEY OF CURRENT BUSINESS

7 2 • July 1993

Table 12.2.—Foreign Direct Investment in the United States: Equity Capital Inflows, 1991
[Millions of dollars; outflows (-)]
Manufacturing

All industries

All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
Latin America and Other Western Hemisphere

41,931

Food
and
kindred
products

Chemicals
and
allied
products

Primary
and
fabricated
metals

Machinery

14,642

1,127

3,448

735

3,978

1,311

8

50

97

821
0
0
0
0
D
()

2,865

460
0
0
0

3,024

207

(*)
0
0
(D)

(D)
0
0
0
0
(D)

1,211

0
0
0
(D)
(D)

(D)
0
0
217
444

Petrole-

um

Total

75

3,403
20,311

-317

9,720

71
311
96
418

0

9
9
5
301

2,670
3,770

114
855

8

2,999

11
367
375
1,950
5,914

41
827

South and Central America
Brazil
Mexico
Panama
Venezuela
Other

230
54
100
46
24
6

Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
UK Islands, Caribbean
Other

597
-1

0
16
18
0
0
250
0
0
(D)

2,324
1,585

(D)
544
2
(D)
1,851

(D)
0
0
0
(D)

2,272

49

-310

3
0
3
0
0
0

n
n
0
()
0
0
277
D

74

-8

0
9
0

(D)
9
70
712

o

(D)
0
0

o
0

o

n
10
D

()
0
0

o

0
0
()
0
0
D

Wholesale
trade

Retail
trade

Bank-

ing

Finance,
except
banking

Insurance

Real
estate

1,213

0
0

844
2
7
D
( )
0
114

44
(D)
0
(D)
0
145

5
0
( )
0
0
355

(D)
0
0
0
D
()
73

0
0
47
10
503
3

11
0
0
0
338
0

1
0
0
9
520
0

381

242

46

21
0
(D)
D
( )
0
0

71
0
70
1
0
0

-8
0
0
0
-8
0

171
0
(D)
(D)
(D)
0

54
0
39
(D]
(D
0

0
0
0

2
0
2
0
0
0
0
0
0
0

4,532

3,071

4

233

364

2,551

1,255

1,011

2,871

1,166

1,756

0
0
5

(D)
0
(D)
0
7

(D)
(D)
57
(D)
92

0
0
0
0
51

0
0

n
0

1,386

9
0
5
(D)
(D)

793
0

(D)
0
0
0
0
(D)

234
(D)
(D)
0
0
958

250
0
135
2
(D)
292

39
(D)
66
0

302
288

(D)
0
0
0
0
(D)

(D)
0
(D)
0
0

0
0

0
0
(D)

0
9

3
(D)

O\

D\
D

M

198

o

0
0
0
0
0
0
0
0
0
0
0
0

368
0
(D)

o

|D\

-29
1,507

4

0

0
0
0
0
0
0

n
n

(°)

251
1

1,202

(D)
240

n

968
978
21

0
0
0
(D)
466

h
o

106
(D)

n
7
0
0
0

n
0

17
0
10
7
0
0

n

202

0
(D)
0

109

0
0
0
0
0
0
D

87
42

n

n
28
6

/D\

1,568

4,615

825

/D\

1,677

0
0
0
0
(D)
0
103
240
64
0

83
(D)

0
0
()
3
0

0
0
()
0
0
0
0
0
0
0
0

361

D

tries

1,762

1,663

-59

5,354

Other

Services

5,525

4,477

0
(D)

Other
manufacturing

D

283

D

333
582
1

()
0
0
(D)
1
0

o
0

(D)
0
0
(D)
47
0

Africa
South Africa
Other

306
0
306

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

0
0
0

4
0
4

300
0
300

0
0
0

o
0

Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other

218
106
95
0
8
3
7

(D)
0
0
0
(D)
0
0

3
3
0
0
0
0
0

0
0
0
0
0
0
0

0
0
0
0
0
0
0

0
0
0
0
0
0
0

1
1
0
0
0
0
0

2
2
0
0
0
0
0

0
0
0
0
0
0
0

0
0
0
0
0
0
0

123
103
(D)
0
(D)
3
3

4
0
0
0
0
0
4

0
0
0
0
0
0
0

82
0
82
0
0
0
0

(D)

16,866

(D)
(D)
0
3
0
0
0
0
0
0

3,919

225
0
0
(D)
0
0
0
0
0

226
(D)
0
(D)
5
0
4
0
0
0

3,174

1,154

2,535

3,875

1
41

25
22

(D)
0

3,056

(D)
(D)

(D)
0

1,952

2,468

3,742

(D)
0
0
0
0
(D)
3

(D)
(D)
(D)
0
0

(D)
0
0
(D)

1,192

(D)
0

4
0
12
0
2
2
1

(D)
0
0
0
2
0

/D\

856
0
(D)
867
(D)
0
(*)
0
0
46
3

2,169

o

444
0
0
323
0
0
0
0
0
121
0
2,583

323
0

2,769

2,415

1216

0

0

715
82

831

0

Asia and Pacific
Australia
Hong Kong
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
Addenda:
European Communities (12)
OPEC
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.




-318

647
37
15,763

111

P)
42

fl

226
39
17,426

134

D

-340

D

1
76
0

71
0
0
0
71
0

()
0
0
(D)
0
0

0
0
0
0
0
0

-302

0
-380

205

n

3,510

18
0
4
0
0
225

8,600

0

n
o
511
0

0

/D\

(D)
5
0

13
(D)
(D)
0

()
0
3
(D)
D
()
0

22
0
(D)
(D)

-380

89
I3

( )

n
0

o
0
0
0
0
0
0

854
0

-1
-2
17

0

166
(D)
0
(D)
0
0
0
0
0
0
0

1 794

1,182

1,376

50

3

0

1,073

1,152

10
-3
-3

1
0
0
0

0

8

1
333
1

(*)

0
0
0
0

/D\

5
0
15
0
(D)

217
(D]
0
75
0
0
(D
0
0
0
0
1,199

-8

SURVEY OF CURRENT BUSINESS

July 1993

•

73

Table 12.3.—Foreign Direct Investment in the United States: Equity Capital Inflows, 1992
[Millions of dollars; outflows (-)]
Manufacturing

Europe
Austria
Belgium
Denmark
Finland
France

553

um

Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
Latin America and Other Western Hemisphere

10,622
144
297
158

85

Addenda:
European Communities (12)
OPEC 1
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.




0

o
(D)

-28
195

0
0

7

0

132

0

1,741

116

n
n
183

0
0
0
0
(D)
0

1,187
2,445

26
1,973

Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U.K. Islands, Caribbean
Other

Asia and Pacific
Australia
Hong Kong
Japan .
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other

o

1,866

653
23
488
51

Middle East
Israel ..
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other ..

395

2,188

South and Central America
Brazil
Mexico
Panama
Venezuela
Other

Africa
South Africa
Other ..

445

1,456

758

1,961

2,733

2,084

46

n

32

347

n

43

3,917
4

308

1,300

381

1,172
4
0
0

756

702

530

o

o
o
o
o

Total

993

,.

7,354

Food

Petrole-

22,467

All countries
Canada

and
kindred
products

545

All industries

Chemicals
and
allied
products

n
n

D

( )

85
629
840
159
(')
0
-32

0
()
37
398
D

o
o
(*)
n
o
o

0

0

0

0

0

0

0

n

(°)

0
(D)

0
(D)

0

0

0

0

0

0

0

0

0

0

5
(D)

33

0

17
110

507

0

sale
trade

5

o

50
172

(D)
( )

(*)
0
-42

Retail
trade

(DJ

H

(D)

0

1

47
(*)

224

-6

175

-1

o

o

o

0
0
0

n
0

3

n
0

0

0

0

0

0

2

0

(D)
0
0

(D)

200

(D)

37

0

n
20

0

50

n
n
5

0

0

0

0

149
1

0
0
D
( )
(D)
(*)

0
0

0
0

O

0

0

0
(*)

0
0
0

(D)
0
(D)

2

103

0

0

0
91
0
(D)
0

0

0

0

(D)

0

0

277
(D)
(D)

0

-17
0
(D)
0
(D)
0

0
0

0
0

0

fl
0
62

n

0

1

5
25
(*)
8
0

0
4

( )

0

n
n
97

0
(D)
421

3
(D)

0

0
(D)
0

237
0

0
(D)
0
(D)
265
0

()

208

848

70

(D)

7
2
1

(D)

33
0

(*)

0
(D)
D
( )
(D)

0

D

0

0

0
0
0

0

0

0

0
0
0

0

0

0

0

0

0

0

0

0
0

0

0
0

0

0

0
0

0

0
0

0

0

0

0

0

0

0

0

0

(D)
0
(D)

3

n
n
0

0

0

0

0

0

0

n

0

0

0

0
0

(*)
0
0
0

0

0

0

n
n
n
0

0

0

n
0

2
0

0

0

0
0

0
0

0
0
0
0

0
0
0
0
0

0
0

345
(D)
0
284

443
0

1,461

1,044

735

n

2
429

0
1,202

1

0

( )

0

0

0
0
0
0
0
0

0
0
0
0
(D)

1
0
0
(D)
(D)
0

1,257

322

842
0

0

tD)

0
(D)

0
0

0
0
0

0

0

96

2,418

(°)
0

263

(D)
0

0
0

(D)

2
2,082

0

n
1

0
(D)
1
0

0

0

0

0
0
0

0

n
28

n

0
0
0

88

o

20

0

395

3,388

3

n

293
0

0

0
0
0
(D)
0
0
(D)

0

0

n

0

n

143

0

0

0

0
0

0

n

0
0
0

n
n
0

0

7

0
0

2

n
1,637
-62
110
1,517

893
113

-5
2

0
0
0
0
1
(D)

0
( )
0
0
0

0
0
0
0
0

2

0

4
63

674
1

578
2

216
0

746
61

D

n
703

0

SI
-2

0

n
0

0
0
0

0
(D)

0

5
0

0

0
0
0
0
0
1

362
0

1,253
2

0

0

0

0

0
(D)
0
1

o

(D)
0
0
(D)

0

0

c

33

26
-6

0

0

56

o
113

c

0

0

0

2

o
o

17

-3

157

982

o
o
o
o

33

0
0

0

847

n
(*)
o

34

n
3

17

414

o

-17

0

0
0

523
2

1,313

131

294

0

17

998

5
154
(D)
0

0

0

-145

(D)
-55
2
106
-89
19

0

2

946

32

0
(D)
0
(D)
50
0

251

0
0

0
0
(D)
0
1

3,925

296

0
(D)

(13)

(D)

1,688

-34

0
299

0
0

0
0
(D)
0

1,335

42

0
290

0
0
0
0

(D)

1,334

0
106

(°)
0

()

1,320
16
156
817
328

2,880

0

(D)
0
0
0
D
()
0

0

industries

0

()
0

Other

Services

0

(D)

()

Real
estate

89
0
(*)
0

364

402

Insurance

0

0

D

Finance,
except
banking

20

0

D

ing

0
0

|D)

D

()

230

Bank-

186

369

134
0

n

455
0

0

8 996
233

o
o

Whole-

301
0

n

n
0

5
(D)

0)

Other
manufacturing

0
(D)
0
(D)
466
(D)

(D)
0

8,704
471
170
7,748
164
-12

(D)

0
0

n
3

0
20
2
-1

2

(°)

0

85

Machinery

234
0
5

0

51

o

181
0

0

o
o
0

D

1,537

and
fabricated
metals

0
4

0
0

90
1

o

Primary

0

2
-10

n

0

0

n
93
0

n
0
n
0

3

0

0

0

0

0

0
0
0
0

0

66C
0

2,197

(D)
4

13
641
1
0

23
1,826

n

(D)

0

0
0
0

fl
0

0
0
0
1
0

2

0
0
0
0
(D)
0

408
100

793
0

858
(D)

n
0
n
0

0

SURVEY OF CURRENT BUSINESS

74 • My 1993

Table 13.1.—Foreign Direct Investment in the United States: Reinvested Earnings, 1990
[Millions of dollars]
Manufacturing

ana
kindred
products

Chemicals
and
allied
products

-6,117

163

1,597

149

-22

Food

All industries

Petrole-

um

Total

-14,156

1,510

Canada

-831

-8

Europe

-8,569
-158

1,778

-4,606

0
(D)

(*)

All countries

Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
Norway
Spain
Sweden
Switzerland
Unted Kingdom
Other
Latin America and Other Western Hemisphere

96
-63
-198
-1,750

O

-728

h
2

-28

-1

-289

D

nnrl

-12
-173
-1,491

343
0
(D)
2
(D)
1

-515
10

-15
-9

1

-4,992

60

56

79

1,628
0

104
2

-2,461

( )
0

-14
-3

(D)
1

-47

-75

-52

-450

-991

192
-1

17
0

-268
-4

-3

-3

-29

-441
13
-11
-1

n
(
*
-6)

-2

594

-724

321

-115

124

-975

(*)
0
2
85

2
-21

-3

(D)
0
25

3
0
12

-4
0

-22

-T29
1,628

-12
5

-416
-229

-6

-18
70
-3

-148

-58

-12

-153
-4
-21
-128
-1

-11

n

(*)

0

0
(D)

n
8
-161
-1,111
-1,633

-43

911

o

-1,160

(D)

3

—42
-712
-868

O
(*)
O
0

-1,298

-190

4

-47

—2
-41
-839
-399
-17

-22
(D)
-211
1

6
15
-24

-2
-1
-44

(D)
(D)

0
-6
-4

-41
-3
-38

0
0
0

0
(D)

Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other

-64
8
9

(D)

(D)

-7

0

-23
-26
-24
-3,490
-211
-46
-2,970
-151

-7
-13
_7
-32

o
(D)
(D)

(*)

0

n
()
*

0

-145
-120
0
-25
0
0
0
0
0

-7
-47

0

-6,874

1,694
114

35

3

n
0

0

-1,544
106

-56
-1,535

-15

n

-3
-2

1

0

(D)

0

0
0
(D)

O
0

0

24

-2,223
-165
-108

-873

177
(*)

-1,072

-595

-220

(*)
-4

0

(D)
-21

-39
5

0

-28

-140

-12

-84
(D)
-89
0
(D)

-125

n

31
0
-2
0
-3

-174

-358

-839

-2

0
4

(D)
6
-8
-83

-4,219

-426

-509

o

9
-5
-20
-2
-67

-3
70
2
4
-25

-16
-16

-11

(D)

-80

(D)
-22
-57

-53

14

0
1
-2
0

O

-43

-128

12

9
-93

fl fl

0
0

n

30

0
0

(*)
0

(D)
0

4
3

0

0

0

0

n

0
(*)

0

0
0
(*)

0

O

0
0

-684
(D)
(D)
-586
-4
0

-109
(D)
-1
-115

130
154
1
-20

0
0

-5
0

_7

0
0
(D)
6

0
(D)

-1,971

-5
-6
-29

(D)
4

0

0
0
0
(*)
-1

-3,676

362
0

1,731

147

-2

-35

-64

10
6
-33

-3

(D)
0
( )

-2

-726

-281

-1

30
0

n
0

289

-82

-20

(*)

-100
-21
(D)
-59
(*)

-78

-23

-21
-1
-14

0

0

-523

-129

0

0

-1,527

-982

-64

0

n
0

-2,826

-2,556

33

(*)

-17
i*\
( )
0
-4
-13
0

0
0

682

-1,016

-38

D
D
ii16!i

0

Services

-801

-58

n

-3
-2

O

-5
0
0
54

-1
-2

n

-39
(D)

50

O
O

2

-27

(D)

-1

16

0
-1
0

n
0

(D)
(D)
2

-755

-6
0
-3
0
1
-1

-29
-3,945
-1

-224
-5
33
-112
-140
-1

0

0
0

n

{

?
0

-108

n
0
0

(D)
-1
-1

0
0

-2
(D)

0
0

-370

-487

-1

2

0

-4
0
-4

-176

3

-5

n
4

0
--60

33

-3

-292
1

(D)
25
-1

-251

-171

-56

-8
0
—
7

-2

-455

-14

8

-244

11

15

-42

-7
-368

112

-2

0
(D)

O

( )

-18
0

-7
-57

41

-6

O
0

(D)

-3
0
(D)
(D)

O

-2

n

-5
-45
-2

-1
0

-3

-1

-4

0

(*)

-8
n
U

-497

-243

-169

o
-6

-36

4

o
—0

8

-13
-109
-26
(D)

o

-412
-31
(D)

8

O

0
0

-29
0

-14

-29

-14

-2

-12

-45

J3
0
0

-2

n

0

-54

17

o

-5

-15
-14
0

16
1
0

0

(D)
( )
-16

O

-285

2

n

28

-18
-2
(D)

-11

16
0
1

-1
-62
16
4

-13

6

n
3

-55
-5
(*)

-4
-1

93
18

u

-117
5
-1
-44

industries

-553

0
D

-11

n

-782
10

97

(D)

95

-20

0

fl

0
-1
-9

O

-26

-20

o
0

n
0

0
0
-52

o

(D)

0
0

Insurance

_7
(D)
-99

(D)
-99
-5

0
0
0

0

(D)
4

-626

0

16

(D)
(D)

-S

-206

o
0

10
18

Other

Real
estate

Bankin§

-21

o
-74

Finance,
except
banking

Retail
trade

sale
trade

-137
-2,342
-3

0
0
(D)
-1

—1

Whole-

-27
-33
-33
-2

0
(D)

U

Africa
South Africa
Other

0

0
(D)

0

A




-3,100

-2,440

O

Other Western Hemisphere

* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.

215

fabricated
metals

( )
(*)
-11

-5
0
(D)
(D)
0

Addenda:
European Communities (12)
OPEC 1

Other
manufacturing

-58
-13

138
16
13
-18
85
43

Asia and Pacific
Australia
Hong Kong
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other

Machinery

-56

South and Central America
Brazil
Mexico
Panama
Venezuela
Other

Bahamas
Bermuda
Netherlands Antilles
U.K. Islands, Caribbean
Other

Primary

0
(*)

-38

7
0

-1

0

0

27

0

-7

0
0

-18

n

-5
—3

0
D

( )
(D)

-1
-5
-442
-57
-24
-295
(*)

0

(*)
()
(*)

-621

-8
0
-1

n
-2
-105
24
(D)
-121

-54
32

41

-269
21
-5
5
-4

-76
(D)
0
-2
0
-1

28

n
0

-1
-31

fl

O
0

n0

0

-5
(D)

-2

o

-396

73
-1

-629
-14

-144

6
2
-19

-1,980
-42

O

1

0

O

0
3

1

-958

-138
(D)
-456
( )

0
1

O

-2
0
(D)
(*)

-28

NOTE—In this table, unlike in the international transactions accounts, as revised in June 1993, reinvested earnings
are shown without a current-cost adjustment.

July 1993

SURVEY OF CURRENT BUSINESS

•

75

Table 13.2.—Foreign Direct Investment in the United States: Reinvested Earnings, 1991
[Millions of dollars]
Manufacturing

All industries

Food

Petrole-

um

and
kindred
products

Total

Chemicals
and
allied
products

Primary
and
fabricated
metals

Machinery

Other
manufacturing

-2,217

-3,925

115

-249

-1,560

-2,382

-18,450

-877

-5,912

585

612

-967

Canada

-2,501

-727

71

362

-57

-99

Europe
Austria
Belgium
Denmark
Finland
France

-9,519
-208
-300

-221

-3,265

0

-6
23

303
0

1

748
0
54
-2

16

All countries

Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
Latin America and Other Western Hemisphere

-33
-266
-1,198
-1,171
-188
-261

-50
-186
-2,742

-33
18
-421
-965
-1,444

-1,324

191
33
44
102
-3
15

Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U K Islands, Caribbean
Other

-1,515

-17
-205
-1,084
-193

-17

Africa
South Africa
Other

-95
-3
-92

Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other

-83
-50
-6
-6
35
-27
-28

Addenda:
European Communities (12)
OPEC
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.




20
-1
-10
(*)
-2
29

-4,928
-292

-63
-4,290
-136

-2
-9
-12
-77
-9
-38

1

-36
-238

-4
10
•

-130
-566

265
-2

0

n

-198

-2
-7
0

0

n
(D)

0
(D)
0
(D)
0
0
-65
-10
0
-55
0
0
0
0
0
0
0

-7,558

-249

O

60

3
C)

1
9
(D)
(*)

n
47
O

.

(D)
0
0

(D)

3
C)

-11
0
-11

1
0
1

-2
-1
-1

0
0
0
0
0
0
0

-49
-2,227

-20

n

-59
(D)

O

-39

1

n
-4

o0

-2
-5
-23
-26

-2
(D)
(D)
3

-2,440

237
0

-2

-134
-172

-133

-12
0

-2,507
-151

n
-659

38

25
-18
(*)

fl

-25

-21

-14
0

-124

-89

-14
-4

O
-7
0
-5
-2
0
0

7

-390

-5
-40
(*)
-4

829
0

H

3
C)
-1

(°)0

0

O

(D)
0

(D)

n

n
n
0
(D)
0

2
(D)
5

3
C)

0

-120
-298
-255

(*)
-20

n0

-39
-3
-4

-5
(*)
-3
-4
2
(*)

-17
0
1
D
()
(D)
0

34
4
(D)
-31
80
(D)

-1
0
(D)
D
( )
(*)
-1

^20

-662

-186

-26

n6

(*)

«J
(*)

0

14
102
40
-4

-2
0
0
-5
-14
-2

-312

-1,105

0

(*)

-1

3
C)

0

n
(D)

0
-14
-124

-58
(D)

(*)

o
n
0

n

(D)

_2
-6
_1
-1
(D)
(D)

-2,128

-526

-192

n
n0
-3
0
(*) •
( )

-1

-113

-1

-18
25
15
-106
-541

n
0

-78
-1
-3
-73
-1
0
0
0
0
0
0

-1,128

n
(
*
-6 )

-191

-1,232

-654

(*)

-13
0
-12
-1
0
0

n
0

(D)
0
(*)
0
0
-1
(D)

-505

n
-4
-435

-51
(*)

0

-300

-34
-33

(D)
_1
0

0
0

0
0
0
0
(D)
-2
0

-221

-29
0
-19
-2
(D)
-98

39
0
1
38
(*)
(*)

0
0

-105

n
-1

132
41
64
-3
-2
32

n
0

-62

-84

0
(D)
0
0
308

(D)
0
1

-5

-26
-48

-333

16
-6
(D)

1

O

-38

-33

1

-69

-674

-5

-752

n

-471

15
14

-358

22
-51

-15

(D)

-1
0
-1
0
0

-106

(*)
-19
20

0
(D)
31

73

-1
-1
0

0

0
-2
12
(*)
-26

115

-29
(*)
-29

o
0

n
-680

-338

(*)
-3
0
-1
-13

-214

0
0
0

n

25
(*)
57
1

-2

-918

-4

0
0
0

C3)

-19
5
-29

0
(*)

-209

-1,233

-54

n
n
n
0

n0

867
-1

-58

-22
-297

-991

-22

0

n

-236
-175

-35
2
-1
-37
1
(*)

0
0
0
0
(D)

119

Other
industries

(D)
0
-72
-4
-29
-1

-53
4

0
(*)

-895

ing

-2
5
-9
-52
193
0

0
_1

-1
(*)
0
-2
1
0

fl

(D)
0

o

20
19
-5

3
C)

-23
4
3
-16

n
n0

n
-1

-206

-138
-385
_p

-12

-146

-9
-1
(*)
-6
0
0

-19
(D)

n
n

0
0
0

n

9
-25
-54

-62

(*)
-1,604
-173

53
0
-2
0
(D)

-294

0
(D)
(•)

-164

-2,643

-883

-4
87
2
(D)
-6

-110

-2
0

-3,444

11

-435

69

-5
0
50

368

64

-730

-64

-160

-941

-664

-593

n
-53

-1,683

-1,396

-338

(D)
0
0
(*)

Services

-142

92

3
C)

Real
estate

-931

-4
(*)
-31
3
-76

n
-8

Insurance

Bank-

-6
-4
-5
-28

-1

Finance,
except
banking

Retail
trade

sale
trade

1
-18
0
-31
-54

(*)
0
-5
-28
-91
0

1
0
62
166

-110

(°)
4

(*)

C)

-88
-3
-5
-79
-1
(*)

n
n0

n
0

-624

2
-24

-174

-13

-15
-119
-676
-723

(D)
0
12
31

-69

South and Central America
Brazil
Mexico
Panama
Venezuela
Other

Asia and Pacific
Australia
Hong Kong
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other

n
()
-119

3

-375

Whole-

-5

-120

-68
2
0
D
( )
(D)
-21
-75
-110

15
-17
21
—1
(*)
-9
6
22
-2
-1,326

-28

fl

-22
-27

-103

-1

-3
(D)
-4
-77
-458

3
C)

-282

-637

-83

-34

n

n
n

0

c

-31
0
-31

0
(D)

0
0
0
0
0
0
0

6
-1
25
-7
-7
-1
-5

-202

(D)

-632

18
(D)
2
0

O

3
C)
(*)

-208

n0
(*)
0
1
1
0
-705

1

(I3)

0
30
(*)
0
5
(*)
0
0
1

210
-1

51
-440

-4

0
()
D

n
*
-()
1
0

o
-1,002

-19
-15
-11
-73
-2
(D)
-3
(I3)

-45

3
C)

0
-1
(D)
-2
(13)

^t6
-27

-58
-35

-21
-4

-662

-892

-183

(l3)

n0

(*)
-4
(*)
-79
-2
(D)
-1,112

14

3
C)

(*)
0
1
(D)
_2

0
(*)
(*)
(*)
0
(D)

-964

-253

-9

-29

NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, reinvested earnings
are shown without a current-cost adjustment.

j6

• July 1993

SURVEY OF CURRENT BUSINESS
Table 13.3.—Foreign Direct Investment in the United States: Reinvested Earnings, 1992
[Millions of dollars]
Manufacturing

All industries

Food

Petrole-

um

and
kindred
products

Total

Chemicals
and
allied
products

Primary
and
fabricated
metals

Machinery

Other
manufacturing

Wholesale
trade

-1,083

-1,006

193

151

-174

Europe

-4,742
-134

302
0
(D)

-860

162
0
(D)
2

1,911

-149

-1,477

-1,307

-598

-1,002

0
(D)
-2
6
271

2
-14
0
-27
-17

-5
(D)
-52
-32

-2
-24
-10
(D)

(D)

-8

-3
65
2

-286

-452

-113

151

7
0
-9
-8
-10
71

-440

-325

-29

France
Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom
Other

-968

-11
-437

-71
-46
-850

-24
67
-90

fl
50

-469

-69
-2
(D)
-1
-2
396

-619

0

—54
-364

-8
-21
-91

n
14
-13
-4
-8

1

6
0
112
111

O

1,111

-149

0

0

(D)

(D)

-24

406

(D)
0
0
D
()
—1
0

(D)
0

-21
-4

46

0

-50
154
7

-832

47

190

-51

South and Central America
Brazil
Mexico
Panama
Venezuela
Other

61
48
-51
40
27
-2

19

-165

n0

—5
1

P!

-161

0

0

Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U.K. Islands, Caribbean
Other

-893

-9

28
3
-9
(D)
(D)
0

354
4
(D)
32
(D)
0

-88
-3

(D)
0

-26

Latin America and Other Western Hemisphere

Africa
South Africa
Other
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
Hong Kong
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
SinaaDore
Taiwan
Other
Addenda:
European Communities (12)
OPEC 1
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.




-446
-932

-70

25
292
-884
-318

-466

-1

0
-26

-223

-78
-3
-7
-135

7
-7
-4,647
-173

7
-4,061
-213

-10
-41
-11
-47
-11
-88
-3,760
-145

(D)
0
4
0

n0
0
-108

-34
0
-74
0
0
0
0
0
0
0
329
-55

(*)
1
-1

0
0
0
(*)
-1,114
-102

-5
-907

-45
(*)
-3
-2
-9
-19
-23
-896

-4

-45
(D)
-1
-2
-43

fl

8
-24
142
-46
801
7

0
6
5

-5
-14

0
0
250

<3

1
0
3
-3
0
0
-51

0
-2
-1
—48
0

n

0

0

22
0

fl
n
0

(D)

0
(D)

0
2
4

fl

-414

-2
-6
-21
-175

-11

n

fl fl
0

n
-44

n
n
-9

0
(D)
-3

00

-2
(*)
( )

0

193
0

0
0
0
0
0
11
0
1,510

-1

-5
75
19

-1
(D)

-250

0

-98

-242

( )

-12
(D)
-95

-386

-216

-1
-1
(D)
-70

2
-13
55

-306

1

-5
0
-17
-6
68
-1

-412

-163

-24
-1
-2
-21
0
0

(D)
1
-1
-9
-1
(D)

-11

27
37
-39
-3
10
22

48
0
1
46

n
n0

431
3

-85
-4
3
-34
-49

18
0
1
10
6

20
54
-10
-23
-2
0

-5
0
-1
-1

-361

n

-87
-18

O

0
0
0

-23

n
0
(*)

0

00

0
0
0

-439

-333

-104
D

-42

1

( )
115

-262

-219

-12

0

n
-172

0
2
-88
-84
-3

o
0
n
D
()
-5
(D)

o0
0

O
D
(D)
()
-2
-105

n
(D)

0
(D)

(D)
-92
15
0
(D)
-2

O

n

0

n
24
(D)
(D)
0

n0

o

O

-931
-126

-108

38

13
(D)

-730

-108
D

-2
0
-1
0
-9
(D)
-2

-5
0
-2
0
1
-5
-18

-95
-2
-7
-1
-1
1
(D)

2
0
0
0
0
0
0

-37
_7
-4
-7
-1
9
-65

( )

-122

-1,242

-1,235

-423

-870

-115

-144

0

C)

-4

-1

(D)

-59

o
1
0
2
2
0

1

(D)
0
-1

-4

0

0

n0
0
0
0
(D)
(D)
(*)
—22

n

0
(D)
1

00
1
76
-1

3

-337

-545

0
1

38
-1
-14
(D]

-30
-4
(*)

(D)

0
1
0
0
-1
-3

-38

0
(D)
0
0
292

1
8

-37

244
0
-17
-2
-10

68

9
9

-337

0
-2
-1

(D)
31
1

-222

-586

-86
(D)
-1
-50
-14

44

-1
0
-1
0
0

-157

-287

-111

-183

1
1
0

-108

-23
-3
(D)
-5
2

10
0
-2
0
-4
-72

(D)

(*)
0
0
0
0
0
(*)

-42
(*)

-27
-80

-377

n

()
_g

( )

-34
40

160
0

0
0
0

-3
4

B

20
-22
24

-109

0
0
0

D

n
-9

129
39
-3

-25
-76
-29

(D)
0
(D)

-197

0
-1
4
-1

-2
0
-1
-17

85
-39

O

n

-93
5
-1

n

o
n0

0

-102
-304

0

-51
(D)

n
0

1
-105

n9

n
n0

-95

-129
-859

-11

(D)
0

n0

0

-19
50

n

-30
-2
3
-96

-8
5
0

0
0
0
0
0
0
0

0
0
(')
0
0

3

9

-893

-166

-1,746

-108

-174
-800

-998

-78
-12
(D)

-588

-51

-6
9
-63
-61

19

-487

1,732

394

339
-97

-2,259

-169

-115

454

579

."."...I!!!."!!

-2,482

-209

-122

-1,231

-166

'.

-758
-760

-1,636

7

-1,041

Austria
Belgium
Denmark
Finland

Services

-1,413

-11,573

ing

Other
industries

Real
estate

Insurance

Bank-

Canada

All countries

Finance,
except
banking

Retail
trade

-6

-53

O

-5
-42
-2
-4

-492

-8
-18

n

-8
0
-7
-1
0
0

-6
(D)
(D)

-404

-155

-6
(D)

-17
-22
(D)
-44
(D)

-394

-28
(D)

-23

0

-9
0
-8

-8

C)

3

-14
-1
6
-7
-7
-1
-5

-9
(D)
0
0

-734

-957

-21
-28

8
-48

40
(D]

-899

-368

-628

-3

n

-3
—1
-39

0

-10

-853

-4

n
D

( )
0

0

0
1
-3
(D)
-933

-8

-13
(D]
(D;
0
-1
(D!
-2
-411

-2
0
(D)

0

n0
0
68
(D]

NOTE—In this table, unlike in the international transactions accounts, as revised in June 1993, reinvested earnings
are shown without a current-cost adjustment.

July 1993 •

SURVEY OF CURRENT BUSINESS

77

Table 14.1.—Foreign Direct investment in the United States: Intercompany Debt Inflows, 1990
[Millions of dollars;

outflows (-)]

Manufacturing

and
kindred
products

Chemicals
and
allied
products

89

-3,954

1,507

1,190

-700

2,047

1,811

955

(*)

P)

-435

P)

P)

-62

-130

174

-163

19

_7

-2,304

-1,515

-3,696

1,233

1,291

-484

390

P)
P)

P)
P)
3
P)
P)

-215

0
161

P)
P)
10
P)

751
(*)
174

-20

165

142
4
87
23
306

48

P)
0
P)

P)
P

-469

-18

-86

14

3

331
0
1
0
1

P)

P)
P)
P)

-112
-435

-12
91

60

235

o

-92
-86
-13
8
-2
1

-17
0
(*)
-16
0
0

0
0

151
3

252

All industries

All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Itaiy
Liechtenstein
Luxembourg
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
Latin America and Other Western Hemisphere
South and Central America
Brazil
Mexico
Panama
Venezusla
Otner
Other Western Hemisphere
Banamas
Bermuda
Netherlands Antilles
U K Islands, Caribbean
Other
Africa
South Africa
Other
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
Hong Kong
Japan
Korea Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
Addenda:
European Communities (12)
OPEC 1
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.




6,339

-2,105

-560
-2,285

231

0

P)

-136

Food

Petrole-

-6
414
656
-3,229
-190

169
45
1,407
4,907

P)

14
-25

um

Total

P)

0
-39

P)
1

27
183

P)

-48

2,680

-695

-1,026
-177

-512

176
3

4
0
0
26

0
_•)
0

P)
P)
8
4

n

781

Jl
P)
P)

P
P
-356
P)
(*)

42

-146

P)
o
P)

-11

n

-31
5
-5

n
4

n

P)
-2
P)

1,573

-91
-85

93
18
-1

-10
-28

3,421
1,575

741
-2

P)

P)

4,676
-2,809

695

P)

37

-44

P)
P)

P)

P)

-608

-608

-1,160
-1,055

0
1

-22

P)

-13
48
3
325
17
81

-115

P)

0

505
299

54
0
0
54

n
0

-614

6,024
-689

68
-97
16

-42
-44
0

6,600

P)
5
P)
P)

-11
0
0

P)

-701

13
-20

9

P)
P)

0

0

2

P)
P)

-106

P)
P)
P)
P
P)

P)
P)
-34
-34

P)
P)
0
0

P)
0
0
0
0
0
0
0

-117

15

P)

-1
-2,336

0

-2

127
10
42
37

522
208
5

P)
P)
()
P)
P)

-1

P)
P)
P)
P)
(

0

833

-29

59
0
5
0

O

17

P)
-382
P)

1,062

P)
407

3,330

P)
P)

-1
-25

79

-1,963
-2,938

441

fl

and
fabricated
metals

97

P)
19
P)
P)

-2,009
^,905

3
151
0

Primary

104

P)
P)

0

P)
P)
P
P

C

P
P

0
0

p)

0
0

418

P)
P)

-48
0
-1

P)
0

l?

Other
manufacturing

Wholetrade

P)
P)
P)

P)

P)

m

0

83
23
-52
10
20

-358

1,235

-2
-1

P)
P)

-383

P)

P)
P)
P)
312
9

2

o
1

-19
-16

57

p)
p)
6

P)

P)

-1

P)

P)
P)
P)
P)
P)
P)
P)

2
(*)
2

-1
(*)
-1

P)
P)

-34

0
0
0
0
0
0
0

-25
-25
(*)
0
(*)
0
0

-56
-8

p)

1,521

P)
P)

—5
3
119
17
-1

1,844
-393

f)

P)

P)
P)
-5
P)
P)

P)
P)

-75
6

390
-1

674
-1

67
67
0
0
0
0
-17

P)
P)
P)
O
D

0
0
0
0

p)
P)
p)

-180

5
0
0
0
-15
0

249

23

p

-246

-3,437

1,632

1,244

-6

-2

-3

-7

2

P)

8

-13

P)
0
P)
P)
0
0

-45

-8
-2
1

11
0

Retail
trade

o

2
0

P)
0

o

Machinery

P)
P)

P)
34
P)
-7

P)

-114

28

P)

P)
67
-1

P)
3
46

0

P)
P)

P)
0
P)
0
0

p)
p)
-2

P)

-57
0
0
0
0
0
0

Bank-

ing

-5,253

Insurance

307

Real
estate

Services

33

204
2,223

223
-24
0
226

495
0

0

-2,716

p)

p)

591

o
p)

-2,080
-119

p)

P)
0

n
0

123
82
0

1,141
-1,355

p)

0
0
0
-15
0
0

P)

0
-10
4

-3,653

fl

-180

P)
P)

o

-1,402

0
0

44
0

P)
P)
4

o
P)

P)

P)
P)
1
15

P)
P)
0
P)

60
757

1,724

P)
P)
17

-2
-1
-3

33
-221

o

P)

-1,877

o

156

1,706

p)
p)
p)

0
-25
0

0

12
0
0
12

0

n
0

0
0

P)
P)

-2
-2
(*)
0
0
(*)

145

1,708

1,502

0

P)
P)

p)
o
P)

-38
48

0
0
0

P)

0

-4
-4

P)
0
0

p)

0

32
0

P)
32
0

P)
0
0

P)
o
-24
0

2,719

3,834

-194

975
0
0
0
0

J
)

Other
industries

3,981

372
0
0
0
1

0

763
0

Finance,
except
banking

P)

1

fl
-1

P)

0
0

P)

0

n
-288

P)

-11
-636
-310

(*)
-1
0

P)
o
(*)
-3,810

P)

P)
(*)
•j
p)

P)
P)

P)
2

154
-10
-3

1,685

n
0

P)

(*}

P)
P)

11
0
11

P)

P)
p)

n
0

fl
0
0
0
0
0
0
0

0

0

o
0

p)

P)
(*)

0

p)
p)

0

0

3,096

0
7

P)
13

p)
p)
92

P)

3,243

1,565

P)

p)

0
-39
0

0
0
0
0
-1
0

0
0
0

0
0
0

-133

0

P)

114
0

892
(*)

587

P)

P)

0
(*)
7

P)
P)
P)

0

P)
P)
16
P)
P)
-3

0

p)

837

P)
P)
P)
-5
3
2

P)
P)
P)
P)
P)
P)
50
0

P)

0

P)
P)

n

-56
0
0
9

P)
P)
P)
-1
114
-2

n

-7

p)
p)
p)

o

2,227

P)

y8 • July 1993

SURVEY OF CURRENT BUSINESS
Table 14.2.—Foreign Direct Investment in the United States: Intercompany Debt Inflows, 1991
[Millions of dollars; outflows (-)]
Manufacturing

-1,889

Canada
Europe
Austria
Belgium
Denmark
Finland
France

2,254
-6
-552
401

um

-78
2,991

-1,743

o

-257

(D)

n

/D\
/D\

-98
-11
(D)
-1,501

( )
0
(D)

(D)
2
438

(D)
—7

-194
-12

-198

320
506
-88
115

-100
9
-12

Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U K Islands, Caribbean
Other

-916
-346

-28
-1

-67

289
-2,949
1,761

330

n
-11
-1

24
_7

n
-A
-61
13
(D)
D

0

D

-9
27

n
(D)
7
n
(D)
72
(D)

-73

-70
0
-88
-1,107
24

n
283
-3
793

O

-1,549

56

-1,347
(D)

134
8

751
6

-1,323

2

-564

7
(D)
D
()

-2

1,122
-16
-195
21
(D)
(D)

0
0
0
0

(D)
-13
-196
1,451

20
(D)
55
(D)
D

0

n
(D)
(D)
(D)
(Di
(D)
o

1

-3
(D)
(D)
-527
/o\

-14

-171

9
-6
(D)
249
663
/D\

n
(D)
-3

Pi
-3
4
669
100
-10
(D)
(D)
437
88

s(D)

0
0

0
0
(D)

0

(D)
(D)
(D)
(D)
(D)

o

-45

n
(D)
(°)
D

(1)
-

4
28
-19
-8

0
(*)

( )

(D)

8

(D)
0

162

-20
(D)
0
-1
0
(D)

(D)

-49

-3
6

-15
-39

-244

n

250
0
(D)
D
()
(D)
13

0

0

n
(D)
(D)
1
(n)
(D)

o

l;>

n

n
0
n
n
0
11

n

4
1

n

3

0

72

0
(D)

n
0

0
0
0
(D)

-31
(D)

D

-3

0
0
D
()

-1

/Dj

-268

-935

-2

-5

n
(*i
-699

( )
130
(D)

(*)
-92

60

O

245
-25
-1
/D\
m\

10
12

24
1

n

8

-18
-46
(D)

-14

-105

660

1 018

-3

n

6

n

0
349
52
0

0
0

D

D

8

0
0
(D)
D

()
(D)

104
(D)
(D)
0

0
0
0

0
1

-1,344

H

116

467
0
0
0

3,003
0

-920

6
(D)
(*)

7

0
-47
38
13
0
(D)

125

15

(D)

-12

C)

0

0

5

0
1
(D)
D
( )
-904

n
(D)
(D)
-1
D

( )

276
0

-11
-505

(D)

H

(D)

163
1
-165
2

-17
2
2,688
0
-2,747

o
0

5
2

D

2

n
0

()

-3

n
D

-1

(D)
(*)

(D)
0

-65

-1

O

1,659

(D)
0
(D)
0
0

0

0

-229

—1

0

fl

214

468

n

0

-395

-132

-1,075
920

0
()
0
(D)
0

0

n
n
n

-2
-14
-21
-421
/D\

(°)
11
(*)

h

0

n

-132

-2,752
4

n

n
n
4

n

5
(D)

n
n
()
*

197
19
(D)
0

-159

n
0

1,846
344
(D)

0

fl
(D)
(D)

0
0

3
0
3

0
0
0

(D)
(D)

0

125

14

0

0
125
0

(D)

276

551

( )

-78

industries

319

D

(D)
(D)

-71

D

Other

Services

-574

O

98

611
-387

0
0

0

0
0
0

0

0

(D)
0
0

()
0
(D)

201
(D)

0

n
-16

0
0
0

-13
19

-88
(D)
(D)

0

H

P

O
O

8

118
11

(D)
(D)
0

n
n

-3

1

96
0
0
3
-1
0

121
(*)

n

(D)
(D)

3,009

(*)

(D)

()

D

0

0
-3

(*)

n

0
-5

-16
-107

Q
D
(o
)

8

()

n
n
16

(D)
(D)
(*)

()

n
267

Real
estate

304

3,053

0
-10

0
()

D

-11

n
n
n
(*)
0

D

-60

( )0

0

253

-34

n
-5

93

n

-€99

Insurance

971

102

0

-120

1,324

-10

1

-301

n

258

-93

( )

78
-207
430
-18
-3
-4

-1,021

-354

0
0
(*)

0

ing

Finance,
except
banking

1,344

n

0

Bank-

(D)

1

0
0

Retail
trade

852

12

0

sale
trade

235

-2

0
0
0

Whole-

-58

n
-16

4

Machinery

Other
manufacturing

-590

n

(°)

-1

o

1 619

i°)

n

-11

. . .

6

and
fabricated
metals

-341

-258
-1

n
95

359
(D)

(°)

-13

0
( )
-1
0

4
(D)

-813

-650
(n)
-113

n
n

-33
-17

365

(*)
-77
(D)

10

-153
(D)
(*)
-282
-14

n
n
n
135
n
n
n
1

-963
-555

( )
39

-55
(D)

-104

-265
0
(D)

-256

D

Primary

27

14

( )

330
125
0

218

30
(D)
(D)

( )
0
(D)

444

386

(D)

-207

-122
-81
-41

* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.




-7
(D)

-1,016

South and Central America
Brazil
Mexico
Panama
Venezuela
Other

n
11

(*)
10

Norway
Spam
Sweden
Switzerland
United Kingdom
Other

n

-99
398

-296

/D\

Addenda:
European Communities (12)
OPEC 1

-335
0
31

54

749

Asia and Pacific
Australia
Hong Kong
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other

-799
8

n
n

-433
549
-769
(D)

Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other

-570

240

-242
1

Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands

Africa
South Africa
Other

-382

Total

1,482

Latin America and Other Western Hemisphere .

-454

Food

Petrole-

1,965

All countries

and
kindred
products

379

All industries

Chemicals
and
allied
products

276
(D)
0
0
(D)
0

0
0
0
0

n

0
0

0
0

0
0

0

0

0

-9
(*)

0

-680
110
109
-574
-145

-1,342
19

0
(D)

O
O

-10
(D)
( )
-10

0
()
0
0

0
()
(D)
(*)

31
0

-259

D

D

n

1
(D)

0

0
-10
(D)
0

0

0
-1

0
()
(D)
D

0

26

n
0
0
0
14
0

-2

148

n

-75

7
-1,369

-70

(°)
0
3
0
()
D

/D\

-2
0

2610
0

312
125

n

s

0

155
51
(D)

Pi

-1
-1

8

3,032

-885

1
1

15

July 1993 •

SURVEY OF CURRENT BUSINESS

79

Table 14.3.—Foreign Direct Investment in the United States: Intercompany Debt Inflows, 1992
[Millions of dollars; DUtflOWS -)]
Manufacturing

All industries

-7,506

All countries

-2,437

Total

-2,096

Europe .
Austria
Belgium
Denmark
Finland
France

-5,872
-127

-2,199

311
-13
145

98

Norway
Spain
Sweden
Switzerland
United Kingdom
Other

19

Latin America and Other Western Hemisphere
South and Central America
Brazil
Mexico
Panama
Venezuela
Other
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U.K. Islands, Caribbean
Other

491
429
-8
25
-60

(D)
(")

-2,382

-508

(D)

(D)
0
(D)
-9
(D)

P)

1,288
-213
-4,121

69
-301

P)
P)

-1,555

4

0
P\
(D)

-44
-11

68

-587

-1
196
2

108

(D)
-17
2
151
704
-13

P)

-248

35
-1,249

-2
(D)
0
0
0
-174

-155

36

(D)

-130
-221
-161

(D)

(D)

( )

_o

11
4

p)
p)
p)
-1

5

fl

Middle East
Israel ..
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other ..

70
4
-69
0
117
14
4

119
0
(D)
0
110

-10
(D)
0
(D)

Asia and Pacific
Australia
Hong Kong
Japan .
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan

628
366

82




P)

-68

P)

(D)
1

* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.

(D)
-2
1

(D)

75
0
75

Addenda:
European Communities (12)
OPEC 1

29
(D)

P)
P)

-157

-173

P)

(D)

65
(*)
64

Africa
South Africa
Other ..

o

P)
P)
0

fl
P)
4
(D)
-15
(D)
(*)
0
1

Primary

Other
manufacturing

61

-2,237

-164

56

-25

P)

164

78

-2,231

-199

P)

-5
-55
11

398
5
32

n
( )

-5
0

-844
-272

-8

P)

P)
P)

P)
0
0
0
0
0
0
0
0
0
0
0
0

2

57
-432

-1
-23
0
91

P)
P)
P)
59

(D)
2
(n)
0
0
D
()
(D)
(D)
30
(D)

P)

H

-312

2
8
2
15

P)
-5
22

-231

(*)

(*)

779

(D)

80

17

-9
14
-5
-4

(D)

-28
-18
-4
(D)
-3

-1
-6

H
P)

P)
0
P)

788
0
(D)
771
(D)
0

P)

-4
(D)

P)
P)
0
0
0
-5
0

5

-174

p)
p)
p)
O

-33
-8
(D)
(*)
-1
(*)

-9
(D)
-9
2
(B)
0

108
0
108
0
(D)

P)
P)

-12
30
1
(D)

(D)
7
(D)

-10
-2
-6

-1
-1

-6

p)
p)

D

0
0
0
0
(*)
0
-67
(D)

P)

P)
0

0
-45

-562

( )

P)
0

( )

P)
9

P)
-9

—3
4
6
-9
3
—
1
(D)
6
22

^29
8
2
(D)

-18
(D)

-7174

-2410

-1,890

1,280

-1,935

-153

-1,538

-62

-45

-3

-3

2

n
0
0
0
0
0

10
11

P)
P)

-6

P)

21

P)

P)

P)
P)

P)

-2

3
-2

fi

-1

( )

P)
-9

15
369

-237

-10
29

( )

-496

P)
P)
P)
P)

-31
(D)
-8
6

-1
(D)
0
0
0
-5
0
(*)

274
95
34
13
(D)

P\
52

-307
-421
-706

(")

Whole-

Machinery

and
fabricated
metals

P)

P)
()

-19
-12
(D)
10
(D)
-20

482
500

18
1,306

-34

-730

-941

-2,005

-49
39
-41

-171

1,197

-1,071

o

-1,856
. .

-2,083

75

Canada .

Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands

and
kindred
products

Food

Petrole-

um

Chemicals
and
allied
products

sale
trade

771

7
256
26
-17
240

Retail
trade

Bank-

ing

Insurance

Real
estate

Services

1

-1,227

-1,753

864

98

-573

-1,511

24

222

-73

-244

-154

126

-177

-1,892

470
0

419
0
2
15
(*)

-263

0

o
o

-20

-2

P)

0

o

(D)

0
-3
0

-731

-204

-63
13

(D)
(D)
-5
(D)
50

0
0
0
13

o
(D)

D

()
(D)
-1,359
1 316

120
_2
m\

-86
66
0

0

o
0
o

p\

n

1,126

46
0
1
0
5
(D)

-A
-19
0
(D)
(D)

-12
-67

-343
(D)

P)
0

780
0

-366

n

152

O

12

-122

0

(D)

-28

-15
0
(D)

2
0
2
0
0
0

-14
0
0
-14

0

58

-135

-656

2

0
8
108
(D)
(D)

(*)
0
(D)
0
(D)
0

P)
P)
P)

305
(D)

0
0
0

(D)
0
(D)

0
0
0

3
0
3

9
(D)
0
(D)
0
0
(D)

-89
(D)

0
()
0
0

(D)
-1
0
0
0
0
(D)

0
0
0
0
0
0
0

-86
0
-95
0
(D)
0
(D)

(D)
-1
-A
24
(D)
0
0
0
0
0
0

-24
0
0
-24
(D)
0
(D)
(D)
(D)
0
0

312
365
-45
-40
(D)
(*)
0
0
29
(D)
0

115
5
1
109
(D)
0
-15
(D)
0
(D)
(D)

242
4
5
198
-5
0
(D)
0

P)
(*)
36

P)

125
0

-798

-2,314

414
-49

411
5

P)
P)
P
P)

5

C)
P)
-7
P)
P)
P)
(*)
110
90
(D)
0

P)
1
0
808

P)
P)

579
100
33

P)

n
-654

(D)

o
D

()

P)
-1
P)
P)

10
32
-31

455
2

-209

-169

21

0

P)

0

P)
D

0
1
(D)

O

(D)

0
(*)
0
(D)
28
0
(D)

P)
0

n

O

P)

n
0
26
11
-6
-123

11
131

(D)
C
-8
0

n
(b)
50

0

0
()
D

-A
67

1
(D)
1

(D)
(D)

p)

O

1,211
-433

(

P)

113
-5

165
27
(D)

0
11

P)

-162
-125

8D
(((D)))

P)

Other
industries

-12

-1,166

-30
-12
(D)

P)

Finance,
except
banking

P)
0

(D)
-1

P)
n
p)
p)
p)
p)
p)
p)
P)
1

(D)

-386

P)
-129

P)
1

P)
P)
P)

-1
11
(D)

(D)
0

(D)

p)
p)
p)
p)

-10

P)
13

n
0

0
(D)
5
0

0
0
13
0

-142

(D)
1

(D)
-173

8

fi
0
(*)
9

P)
-1
1

P)
P)
P)
-7
P)
-334

14

80 • July 1993

SURVEY OF CURRENT BUSINESS
Table 15.1.—Foreign Direct Investment in the United States: Income, 1990
[Millions of dollars]
Manufacturing

All industries

PetroleTotal

Food
and
kindred
products

Chemicals
and
allied
products

Primary
and
fabricated
metals

Machinery

Other
manufacturing

555

-2,228

-1,033

2,936

3,119

2,721

1,129

4,298

Canada

57

58

392

-5

57

Europe

4,400

3,129
0

3,261

1,228
0

4,166

AH countries

Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands

...

,

-136
165
-49
-100
-915
-147
-24.
-274
-55

59
179

n
o
-2

n
57
-1

n
n

1
33
-13
-124
-813
-193
22
-44
1

12
546

-11
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
Latin America and Other Western Hemisphere

21
25
-121
214
5,593
-36

667
(*)
0
1
86
2,110
5

390
32
15
178
121
45

Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U.K. Islands, Caribbean
Other

-372
97
-26
-110
-381
47

Africa
South Africa
Other

-41
-3
-38

Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other

-4
-21
19

-1
-72

(°)

-22

n
-211
3
0
0
0

-18
-2
46
-7
-14
-26
-14

Asia and Pacific
Australia
Hong Kong
japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
Addenda:
European Communities (12)
OPEC 1
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.




-116

-996

18
-3
-15

-17
0
0
0
0
0
0
0

4,579
123

3,040
159

-6
-15
-5

315

(°)

23
306
-21

n
n
4
n
o
n

-94
-6

-1,273
150
-45
-1,348
-14

n
(*)
470

H

-3

2
53

-4
3
—
9

n
0
121
590
-3

-31
0
-2
13
-43
0

Banking

373
3
(D)
0

n

-1,668
-2
-15
-3
-43
^53

96
31
0
7
1

n
177

598
2,449
0

3
0
18
-2
49
0

124

-70

-230
-4
-28

o
o
-682
-3
0
22
-337
111
(*)

-756

1,388

-1,282

-400

96

-75

294

-671

-25

246

-838

117
11
-5
-13
(*)
-37

-259
-2
86
2
4
-20

-1,862
-165
-95
-39
12
-70

882

-363

285

8

n

o
9
1
-11

0
-2
0

-41
()
-65
0

-4
0
-1
-6
-86
5
-1
-42
-1
-14

101
(D)
-19
5
1
34

(*)
-45
-11
-57
-635
-367
24
-6
1
(D)
117

()
-21
-47
-115
333
-3

49
-16
-49
1
1
-61

_o

()

-52
7

0
10
-43
-109
(D)
-2
-7
(D)

161

()

-177
-4

-13
-143
0

()
19
-6
43
-569
-25

O

n
()

333

-50

-13

128

105

-24
9
6

3
0
1
2
0
(*)

124
36
44
7
-14
52

346
3
(D)
283
20

-26
(D)
24
-34

-20

-35
-1
-2

4
3
0
(*)
(')
0
0

-1
0
-1
0
0

n
(*)
n

n

0
0

3

-7
-5
51
75
-129
_•<

235
-54
36
196
44
-5
5
-2
6
7
3

D

0
-4

n

n
6
-1
3,502
-2

-40
-11

-14
0
(D)

0

372

-615

-706

n

18
1

-696
-5
0
-3
0
1
-1
-20

-616
-1

n
-1

n
-248

-12
0
-18
-2

4

-5
0
-56

-4

n
-6
-40
-159
-3

-365

O
6
72
275
1

0

-5
-40
-1
-3

_p
0
-7
_ • ]

0
0
-152
-8

-1,760
-36

O

0

0
18
17
1
0

n
0

-26
0
-19
-5

-315

-16

0
0
0

-28
0
-28

0
0
0
0
0
0
0

58
-7
-17
-1
-5

n

120

-476
O

o
87
-174
1

D

( )
-36
-254

-3
4

n
-149
-12
-99
-18

n
-13
0
-13

-5
-3
-2

-11
0

-33
-23
212

269
D

n
161

-160

-50

O
O
()
-6

n
o

180
178
3
5
-5
0
0
0
(*)
(*)
-1

429
0

17
4
-55
-5
2
-36

(*)
_2

-15
(D)
13
-39
-41

0
0
0

n

-4
164

37
0
1
36

0
0
0

(*)

102
0
(D)
0
0

0
4

1
14
24
65
132
-2

-13
-1
-14
2
0
0

0

()
0
0
0

o

-821

0
-3
-13
0

0
-78
0
0
-7
0

1,109
0

n
n

-240

(D)
—1
0

0
0
-79

Other
industries

Services

-1,447

-38

-16
0
0

n

Real
estate

-227

-22

0
0

Insurance

-483

-20
0
0
0
0
0
0
0

Finance,
except
banking

-32

30
0
30

-6
-20

D

Retail
trade

180

-11
0
-6
-4
0
0

(*)
-11
-2
22

3,064

fl
-2
-6
121
377
—1
-5
0
0
464

()
0

0
0

-1,481
-328
-16
-115

-6
307

18

South and Central America
Brazil
Mexico
Panama
Venezuela
Other
,

14
-19
46
265
3,533

2
(D)
58

Wholesale

-40
(D)
-3
0

0

fl

-136

()
-313

( )
0
-2
0
-7

n
-82

26

n

-102
-2
0

O
-357

717
-1

-269

n

207
-14

-22

NOTE—In this table, unlike in the international transactions accounts, as revised in June 1993, income is shown
net of withholding taxes and without a current-cost adjustment.

July 1993 •

SURVEY OF CURRENT BUSINESS

8l

Table 15.2.—Foreign Direct Investment in the United States: Income, 1991
[Millions of dollars]
Manufacturing
Food
anri
ana
kindred
products

Chemicals
and
allied
products

Primary
and
fabricated
metals

Machinery

Other
manufacturing

1,426

3,440

-541

-1,554

-1,401

173

-88

122

-136

-88

-652

203

108

-6
2
-17
0
9
46

-936

-374

117
-2
1
-27
4
-58

-253
-4
111

-1,287
-157

-1,242

-1

'n)
-19
13
37

-296

o
o
0

53
(D)
-22
(*)

81
0
-2
0
(D)
-60

All industries

-1,791

307

857

3,109

1,007

3,418

-94
-23
-81

Europe
Austria
Belgium
Denmark
Finland
France

-262

2,085
-170

Canada

1,051

-1,105

All countries

Petrole-

8

-5
39
-16
-71

0
(D)
1

0
63
-4

um

Total

1,371

-103

-226

-714
-209
-259

Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands

44
-1
-10

-453

-24

2
13

-224

( )

O

_3
13
544

132

-45
-123

381
-35
30

Norway
Spain
Sweden
Switzerland
United Kingdom
Other

-353

223
4,078

-57

Latin America and Other Western Hemisphere
South and Central America
Brazil
Mexico
Panama
Venezuela
Other
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U K Islands, Caribbean
Other

-116

413
45
51
281
10
26
-530

47
-176
-105
-307

12

-2
98
(D)
0
11
32
662
4

16
-20
11
363
-2

(D)

248

-6

55
-3
0
(D)

20
-3
-5
29
-1

-7
(*)
-5
_2
0
0

n
0

3,168

n

n

0

0
-1
-19
54
0

138

-135

1,909

0
-1
(*)

0

O
(D)

0
0
0
0
0
0
0

(D)
0
0
0
(n)
0
0

(D)
0
0
0
0
0

(D)
(D)
2
-26
1

n
()
*
-51

2,800

6
(D)
0
D
()
0
0

n
-1
(*)
()

(*)

r)

-43
-2,046

-19
(*)
-4
-2
-1
-22
-20

-2

fl
(*)
0

(D)

n

-110

722
-2

2
(D)
(*)

0
—
1

n

ing

-341

91
1
61
1
(D)
-654

-17
28
15
-18

Finance,
except
banking

-1,074

-1

2
(D)
5
(D)
0
0
()
D

n
-310

-14
1

-1,579

-1,277

16

-732

-20

15

999

-355

38
0
-2
17
1
75

102

1,264

D

-175

-330

(D)
-3
-6
(D)

0
(D)
0
0
594

fl

-139

85
257
-5

-229
-144

-511

-121

0

-46

-3

-20

-42

-117

158

n

0
1
(D)
0
(D)

171
52
70
9
-2
42

39
0
1
38

-14
3
11
-32
2
2

(D)
0
-1
-62
-58
(D)

-13
0
1
D
( )
(D)
0

-20
66
(D)
-15
-57

n
0
n

(*)
0

-2
9
14
-9
612
0

19

-28
1
2
-17

*
((*))

-1

o

0
-1
1
0

o

-2
0
0
272
4
(D)
D
( )

n
n

n
n

0
0
0

0
0
0

-29

o
(0
*
)

-1
0

-4
-4

-1

(*)
(*)
0
0

0
0
(*)
0

-720

-26
-47

-1,160

-62
1

-625

-1,065

0

n
0

n
-2

(D)
0
-3
0

n

n
-3

3

(*)

0
-1
(D)

-1
0
-1
0
-5
-14
-2

796
0

2,812

3
0

Services

()
58

-192

-609

O

s
-202

-1

o

-29

0

n

-1
0
0
219
102
55
164
-95
-2
-5
-1
-1
(D)

233
-2

-5
(*)
-5
(*)
0
0

n
-72
_

•

<

-3
-67
-1
0
0
0
0
0
0
-17
-5

n
-109

-62
2
0
(D)

n
()
*

n
()
*
0

0
18
(D)
2
0

O

Other

Real
estate

n

-3
-1

-278

n
0

Insurance

-188

270

0
0
0
0

-1

n
-198

-1,100

Bank-

-20

fl fl

( )

(D)
0

-234
-104

—133

Retail
trade

-19
(D)

(D)
0
(D)

855
86




9
-25
-4

1
0
1

-2,281
-125

* Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.

178

-2
0
-62

n

(*)
0

91
137
0
-46
0
0
0
0
0
0
0

D

-148

fi

-12

(D)
-3

-2,526
-280

72

(D)
-11
-3
(D)

367
-18
(*)

—
1

2,552

-313

-2
-39
(*)
-4
59

-127

O

Addenda:
European Communities (12)
OPEC 1

-250

0
(D)

-13

(D)

.

-100

4

-35
-61
33
-6
48
-27
-23

.

8
4
78
520

-372

1
0
(D)
(D)
-11
0

Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other

-82
-2
-7
-9
-16
~4
-9

208
(D)
(D)
0
-6
512

—
1
(D)
-8
-62

-262

228
6

-11
0
-11

-32

n

301

(D)

-94
-3
-91

-2,085

n
o

(*)
1
0
206
587
(*)

Africa
South Africa
Other

Asia and Pacific
Australia
Hong Kong
Japan
Korea, RepuDlic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other

n
60

-462

-6
-3
-5
-23

Wholecalo
saie
trade

o

-3
0
—
1
-5

26
-47
(D)
-4
4

-56
(D)
-1
-30
-27
-31

-143

-3

(D)

1°)

-3
-46
-131

-4

n
5
65
81
1

tries

-279

o

-18
21
1
-52

5
0
-19
—2
(D)
48
(D)
0
-68
1
203
-1

-302
D

( )
-1
0
(D)
0
-1

n

-430

-170

-44

-14
0
-13
-1

-2
-1

-34
-2
-3

o
()
*

o

-4
3

n

-258

-416

-168

D

( )
-20

D

( )
6

-148

-392

-1

-69
(D)

-33
(D)

-18
-15
-67
-65
-2

0
0
0

-31
0
-31

(D)
0
(D)

(D)
-3
(D)

0
0
0
0
0
0
0

44
-1
63
-7
-6

(D)
(*)
-1
0

-44
(D)

0
(D)
D
( )

0

( )

0
i

n
-16

0
(D)

692

22

(D)

-203

-839

n

(D)

-41
-25
-87

-66
-34

(D)
-20
-4

-719

-162

-103

2
168

30

n
0

n
0

-6
6
27
16

(*)
0
15
1
0

6
(*)
0
0
1

-1,129

-1,012

-23

2

948
-1

19
680
54
-1

n

(*)

-1

-5

n
(
*
-2)
(*)
—6
3
-2
(D)
-270

53

(

n

)

-2

(D)
0
2

(D)
0
-3
0
1
(D)
-2

(D)

-33
—
9

177
-28

n
n
0

NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, income is shown
net of withholding taxes and without a current-cost adjustment.

82 • July 1993

SURVEY OF CURRENT BUSINESS
Table 15.3.—Foreign Direct Investment in the United States: Income, 1992
[Millions of dollars]
Manufacturing

All industries

All countries

Petroleum

Total

Food
and
kindred
products

Chemicals
and
allied
products

Primary
and
fabricated
metals

Machinery

Other
manufacturing

Wholesale
trade

Retail
trade

Finance,
except
banking

Banking

2,470

787

4,277

1,155

3,820

-311

-1,132

746

-1,166

286

Canada

-60

-93

721

459

-52

-101

202

213

-137

-84

4,639

778

3,928

764

163

-852

-79

-97
365
-38
-34
-264

0
(D)

-5
25
-15
-15
-127

0
(D)

-922
-5
(D)

146

Austria
Belgium
Denmark
Finland
France

3,851
0

-2
-23
-9

()

iDi

( )
55

-3
93
2
(*)
-3

Germany
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands

-457
69
-447
-67
-22
1,333

-399
22

-11
23

...

Latin America and Other Western Hemisphere

-2
466

-349
-8
-8
714

1
0
6
6

20
-17

-63
3

3,195
7

350

251

555

333
49
66
,

Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
U.K. Islands, Caribbean
Other
Africa
South Africa
Other
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
Hong Kong
japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
Addenda:
European Communities (12)
OPEC 1
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 10.1.




-54
2
(D)

1
80
35
525
3,703
-46

Norway
Spain
Sweden
Switzerland
United Kingdom
Other

South and Central America
Brazil
Mexico
Panama
Venezuela
Other

a

-92
-5
(')
-87
-1

169
47
2

n
646
3
(D)
322

18
65
315

-81
-284
3

(D)
0

fl fl

156
1

n
0
13
507
7
-43
1
(*)

0
0
539
17
4
136

731
2,022
0

15
0

0

-8
1
115

()
0
5
11

-81
0

-396
-3
-13

fl
-231

-2
-2
17
-94
107

-241
2
(*)
-1
135

-3
0
0
-44
0
-2
6
-48
0

-44

0
0
0
0
0
(*)

-25
(D)

-52
6
0
-66
0
0
0
0
0

-164
14
4
-141
-38
0
1
0
0
-1
-3

-2,228
-178
47
-1,794
-163
-9
-38
-9
-19
-2
-63

-91
-25
0

-901

-66
0
0
0
0
0
0
0

-719
-44

-63
-1

n
-2
-7
-21
-20
3,042
-4

-17
(')

o
n
1

2
1

0

-20
-1
-3

()
-9
-1

-198
153
-30

-105
-7
0
1
-8
0

-5
78
29

n

n
-66
-3
13
-29

0
3
-15
-84
-3

162
38
79
10
10
26
18
0
1
11
6
(*)

n

-1,018

-950

-126

23

168

-334
2

810

-308

458

()

0
7
-25

75
0
(*)
6
(*)
-96

-13

-30
-4

260
0
-17
-1
-10
-65

0

O

9

n
o

0

o
(*)
0
0

-1
0
0

-390
(D)
-6

n

79
-202
-5
0
-2
0
1
-5
-15

130
-71
-78
-2
-7
-1
-1
1

n
2,960
-1

-609

n

-67
-6
(D)
6
-150

-273
0
D

( )
0
0
434

-58
-1
-47
-8
-3

163
_2

3D)
(O
o
o

n
()
-2
-98
2
0
0
0
0
0
0
-726

()

()

n

-72
-50
807
0

140
-61
-2

n
-2
4

125
-118
42
256
-6
-7
-4
-6
-1
20
-50

46
0
1
45

O

-347
-7
-6
-250
-74
-10

79
91
-10

-10
7
1

187
-55

30
-1
50
-7
-6
-1
-5

(*)
0

0
()

n
n
-22

n

1

-198
-16
-25
-143
-2

n

0
1
0
-5
2
0
-378

(*)
-11

n
(*)
78
235
1
-270
-8
(*)
-6

-1
-5

n
-4

934
-1

-199
46

-2
290
-1
-143
-7

n
-5
(D)

-263
-6
-255
-27

-23
0
-23

()
0

91

-47
-92
-6
-393

-5

3

-37
-1
-3

-1

-30
(D)
129

fl
-47
(*)

0

()
-76
15
0

n

o

-133

O

n

-292
-2
0
-1
0

-92

n
o

O

0

n

730
0

-122
-846
0

658

n

n

0
-2

n
0
0
0
(*)
0
0

o
(*)
(*)
0

-2
2
-104
124
106
-17

-49
2

D

(D)
0
0

_•]

20
-5
93

Other
industries

Services

371

-184

-71
3
-19
131
-65
640

678
3

0

0
0
0
0
0
0

-125
7
-3

-28
-2
4
143

35
0
-2
0
-4

-16
0
0

-21

o

-1

-59

-387

0
-24

n

()
0
4
0

798
-26

-29
-254

(*)
0

-62
42
-7

4,296
-61

-4
7
425
234

2
-12
0
5
34

-26
0
-26

-83
-3
-80
-148

289
598

D

n

Real
estate

-622

180

Europe

Insurance

n
-136
-17
-22

•S
-3
3

-11
()
0
0

()
0

fl
(*)

n

-765
4
-46
-704
D

( )
0
-2
0
1
-3

-395
41

n
-356
0
(D)

n
0
(*)

478

NOTE—In this table, unlike in the international transactions accounts, as revised in June 1993, income is shown
net of withholding taxes and without a current-cost adjustment.

SURVEY OF CURRENT BUSINESS

July 1993 •

83

Table 16.—Foreign Direct investment in the United States: Country Detail for Selected Items
[Millions of dollars]
Direct investment position on a historical-cost basis
1988
All countries

1989

1990

1991

Capital nflows (outflows (-))

1992

1988

1989

1990

Income

1991

1992

1988

1989

1990

1992

1991

2,470

314,754

368,924

394,911

414,358

419,526

58,571

69,010

48,422

25,446

3,388

12,774

7,491

2,936

-1,791

Canada

26,566

30,370

29,544

37,301

38,997

1,852

1,793

1,821

2,383

-2,144

589

-855

57

-1,105

-60

Europe

208,942

239,190

247,320

251,248

248,461

31,852

43,046

21,549

13,047

8

10,604

8,485

4,400

2,085

4,639

30
460
84
123

290
467
47
998

227
115
165
386

-143
-540

-117

-97
365
-38
-34

3,122

2,744

5,987

4,462

-468

-86
317
-5
-18
209

-170

947
48
56

-41
302
-7
-11
345

-136

465
74

3,738
1,008

585

2,167

1,389

305
125

-147

-171

-274

-12
-81

-55
59
179

-123

-67
-22

381

1,333

21
25

-35
30

-121

-353

Austria
Belgium
Denmark
Finland
France
Germany ]
Ireland
Italy
Liechtenstein
Luxembourg
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom
Other
Western Europe, nee
Andorra
Cyprus
Gibraltar
Greece
Iceland
Malta
Portugal
Serbia 2
Slovenia2
Turkey
Yugoslavia3
Eastern Europe
Bulgaria
Czechoslovakia
Hungary
Poland
Romania
Russia4
Union of Soviet Socialist Republics5
Latin America and Other Western Hemisphere
South and Central America
Brazil
Mexico
Panama
Venezuela
Other
Argentina
Belize
Bolivia
Chile
Colombia
Costa Rica
Ecuador
El Salvador
Guatemala
Guyana
Honduras
Nicaragua
Peru
Suriname
Uruguay
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
United Kingdom Islards, Caribbean
Other
Antigua and Barbuda
Aruba
Barbados
Dominica
Dominican Republic
French Islands, Caribbean
Grenada
Haiti
Jamaica
St. Kitts and Nevis
Trinidad and Tobago
Africa
South Africa
Other ....
Saharan
Egypt
Morocco
Sub-Saharan
Botswana
Cameroon
Gabon
Ghana
Guinea
Ivory Coast
Kenya
Liberia
Madagascar
Malawi
Nigeria




392

386

625

488

387

3,471

3,799

3,900

588
452

656

819

1,297
15,365

1,504
18,650

3,089
1,301
1,305
24,155

4,066
1,308
1,385
23,808

28,386
1,416
1,436

28,232
1,340
1,524

28,618
1,823
2,705

29,205
2,273

2,245

167

110
937

571
40
543

-683

177
407

59,355

61,341

-318
6,137

561

625

-126

63
-95
831

13,233
25,250

725
752
181

295

-4

850
-13
509

-131
48,128

56,734

2,195
64,671

220
511

576
601

773
792

4,713
14,372
95,698

5,435
18,746
103,458

5,484
17,674
98,676

1,155
5,684
19,189
100,386

1,290
6,923
19,562
94,718

19,617

5,184
18,939

388

316

295

385

416

71

-78

330
1
1
D
()
99
(D)
(*)
18

268
1

247
1
(D)
62
94
(D)
1
-19

224
1

185
1
10
48
28
52
14
-17
13
30
6

77
0
-1

41
51

( )

96

(13)

2
7

n
61
46

n
11
-22

17

20

20

33

44

45

48
(*)
0
7
28
0

48
0
0
29
0

162
0
0
-2
45
(D)

13

(D)

(D)

11,243

16,218

20,168

17.665

4,331

5,819

6,140

7,020

286
218

428
350

377
575

478
708

2,878

3,392
1,163

4,188

4,841

1,184
4,732

496
504
420

538
455
371
-1

502
456
403
-1

58

0

0

27
0

c;i

540
409
291
0
-1
34
68
1
7
(*)
-2
0
11
(

486
370
-1
0
40
53
1
5

i?
10
()
*
(*)

*5
-2
-4

0
10

6,911

10,399

(13)

(13)

-2
5
55
_2
6
(*)
-4
0
8

n

922

948
0
0

0

0

0
0

72
0
0

51
0
0

191
0
0

82
0
0

2
—
1

2
(*)

2
1

441
37
404
17
(D)

505
26
480
3
-8
11
476
0
-1

505
10
496
8
1
7
488
0
(*)
-20
0
1
0

643
-14
657
-4
-9
5
661
0
_1
-2
0
1
0

n

387
0
-1
-2
0
1
2
_p

343
0
_1
(*)

0

0
1
2
0
430
0
_1
-1

n

453
0
-1
-17

n

586
0
0
6

-1,491

2,464

2,027

98
112

4
47
255

-13
29
201
946

-633
4,519

1,490
4,382

214

223

-2,608

1,092
5,591

1
80
35
525

4,726

5,593

4,078

3,703

-18

87

26

16

-11

-36

-57

-46

-68
0

-26
0

-44
0

15
0

-11
0

-37
0

(13)

( )

-26
0
(D)
-1
—8
4

n

n
1

-56
0
(*)
-1

-36
0
(*)
-3
-28
8

( )

-3

/D\

-216

2
-12

-2
(D)
-2
-26

-6
5

-28
-20

-2
11

-2
1

-6
(*)
0

-9

8
(*)
0

112
0
0
(D)
16
(D)

(D)

69
-447

1,381

288
188
443

9
()
0
1
D

—5
4

373
274

364
90
587

(13)

n
0

n
11
-1

528

(13)

0

9
8
-5
0
3

1
-3
2
0
-10

-1
2

-2

69
0
(D)
8
1
(D)

1
0
0
-1
1
0

n

-13
-18
(D)
3
4
1
-6
-17

0
0
0
-1
1
0

0

n
0
-34

-5
2
1
0
0
-1
1
0

n
1
0
(13)

-3

0

1
-9
(*)
-6

-1

n

0
0
-2
1
0

-11
0
0
-3
1
0
-9

(D)

(D)

1

1

1

1

18,895

2,944

4,069

5,199

-1,513

841

449

-284

18

-116

350

7,378

368
-8
38
220
124
-7
-14
0
-1
5
17

1,095

992
-46
224
870
-72
16
50
(D)
-2
-35

321
97
132
119
19
-47
-48
(D)
3
16
-8
5
-1

543
21
476
50
-40
36
68
0
(*)
15
-3
-8
—
1

509
44
35
279
121
30
26
0
0
3
1

28
63

390
32
15
178
121
45
(D)
0
0
(*)
_2

413
45
51
281
10
26
30
0
(*)
3
-7

333
49
66
169
47
2
14
0
(*)
5
-15

n

0

0

0

0

502

n

34
44
-6
3

0

145
107
148
616
79
79
-1
1
9
-16

O

-2
(*)
-1
0
-1

-2
(*)
-4

(*)
-1

(*)

0
-13

-2
-8

2
13

11,518

2,576

2,974

989

(D)
22

-1

1,577
8,453

38
460
0
124
(*)
-1
1

1,967

144
(13)

0
0

63
0
(*)

O

-1

n

(D)
-110
-126
3,201
( )
0
0
-107

0
0

0

2
(*)

-1,077
1,006

-24

(D)

10,646
1,194
1,261
7,898
-904
1,196

H
0

1,851
7,163

-40
6

(D)

0
12

14,028
1,535
1,550
12,974
-2,979

-52

-250

-57

-264
-457

(D)

0
9

1,012
8,733
-215

390

-175

-714
-209
-259

-8
1
0

-16
-2
6
(*)

fl

475

429
-8

-100
-915

-94
-23
—1
8
^62

-2
0

20
47
3
4
-1
-12
0
7
(*)

1,067
8,935
-3,867

n

231
0
(D)
6
46
(D)
167

(13)

7,323

-138

414
143
15
-22
-1

165
-49

n
0

P)0

n
2

2

0

(*)

1

635
-17
652
-9
_1
-8
661
-1
0
-1
0
1
0
0
588
0
-1
2

-41
(D)
(D)
-7

(*)

(13)
(13)

152
0
-1
-2
-3
0
(*)
3
169
-8

n
2

-1
55
-11
66
-12
-3
(13)

78
0

0

2
0
0

o

2
76
0
(*)
(*)

1
0

0
1
(*)
3
(*)
-1

-8
0
-1

fl fl
0
-1

0
3

4,208
1,573

-1,834
-364
-234
-3,701
2,151

741
4,456
-2,552

-10

314

0
0

0

103
0
0

n

-43
0
0

fl fl
0

0

0
1

0
(*)

-8
-16
8
5
9
-4
2
0
(*)
-20
0
0

90
-84
174
-8
-6
-2
182
0

n
n

13
0

0

-17

i

18
0
0
0

n

141
0
1
23

n

-1

-149

26
79
11
6
0
0
4
-2
(*)

0
(*)
0

-4
-2
—
1
0
(*)
0
-27

n
0
n
(*)

0
-1

0
1

0
1

297

-61
(D)
69
117

-179

287
416
511

(*)
3

—
1

0

-1
0
-1

Pi0
1

-312

-372

24

97
-26

0

n
(*)

-1
(*)

0
-1

0
-1
(*)

0
2

0
1

-530

47

0

n
18
65
315
-81

-146
-143
-129

-110
-381

-176
-105
-307

()

81

47

12

3

0
0

0
0

0
0

0
4

42
(*)

-10
0
0

(D)
0
0

(D)
0
0

n
0

fl

1

0

-736
0

O

s

-299
D

0

n
n

0

n

n

0

0

00
0

0

0

0

0

o

n

n

0

0

-6
-3
-3
-5
8
-13
2
-1
1
2
0
0
0
(*)
4
0
-1
-4

39
1
38
-5
-3
-3
43
0
0
0
0
0

-34
-3
-31
-6
-4
-2
-26
0
0
0
0
0

-41
-3
-38
-7
-1
-6
-31
0
0
0
0
0

-94
-3
-91
-6
-1
-5
-85
0
0
0
0
0
0
0
-86
0
0
2

n

0
41
0
0
2

<3

-29
0
0
3

0

0
-28
0
0
-3

-284

1

n
0
n
(*)
0
0

0
(*)
-83
-3
-80
-5

n

-5
-75
0
0
0
0
0
0
(')
-62
0
0

n

84 • July 1993

SURVEY OF CURRENT BUSINESS
Table 16.—Foreign Direct Investment in the United States: Country Detail for Selected Items—Continued
[Millions of dollars]
Direct investment position on a historical-cost basis
1989

Sudan
Swaziland
Tanzania
Uganda
U. K. Islands, Atlantic (Africa)
Zaire
Zimbabwe
Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Bahrain
Iran
Iraq-Saudi Arabia Neutral Zone 6
Jordan
Oman
Qatar
Asia and Pacific
Australia
Hong Kong
japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other
Afghanistan
Bangladesh
Bhutan
Brunei
Burma
Cambodia
China
India
,
Indonesia
Macau
Nauru
Pakistan
Palau
Papua New Guinea
Sri Lanka
Thailand
Tonga
United Kingdom Islands, Indian Ocean
United Kingdom Islands, Pacific
Vanuatu
Addenda:
European Communities (12)
OPEC 7

1990

1991

1989

1990

1991

1990

1992

1892

1991

n

0

o

O
(*)
(*)

-1
D

( )

n

o
6,570
587
3,954
-7
1,826
111
100
53
2

7,588
630
4,280
-9
2,455
112
119
67

4,425
640
1,805
-16
1,811
99
86
46

n
60,992
7,171
895
51,126
505
42
154
73
510
329
186
(D)
0
0
(D)
0

75,053
4,962
1,124
67,268
-307
29
166
82
934
476
318
(D)
0
0

n

-1
87
26
39
0
31
19
0
0
(')
100
0
0
5
1

-3
21
41
0
30
14
0
_p
0
72
0
0
5
-2

188,342
6,487

92,948
6,542
1,511
83,091
-1,009
56
157
77
1,289
836
398

4,771
1.147
1,891
-23
1,598
99
59
43
(D)
0
-1
5
102,730
6,083
1,763
92,896
-618
41
113
54
870
1,142
386

4,813
1,131
1,893
-29
1,642
121
56
46
(*)

220,874
4,216

-1
5
20,587
2,741
88
17,205
353
52
-70
5
119
131
-38
(D)
0
0
(D)
0

-1
0
0
-3
126
13
52
0
38
18
0
0

0

212,361
8,067

-8

D

D

150
0
0
5
2

n

107,725
7,140
1,714
96,743
-496
54
108
59
847
1,154
402

n
-2
124
30
25
0
35
19
-1
0

1,378
-56
-99
-2
1,508
67
-41
10

-2
4

n
127

15
28
0
39
22
0
0
-1
136
0

o
-61
-2
26

H

4
_-|
0
-2
0
-6
0
0
5

i

138
(*)

1
5

5

O
223,550
4,173

219,133
4,222

* Less than $500,000 (±)
D
Suppressed to avoid disclosure of data of individual companies.
1. For 1988-89, this line includes only the Federal Republic of Germany. For 1990-92, it also includes the former
German Democratic Republic (GDR). This change has no effect on the data because, prior to 1990, there were
no U.S. affiliates of the former GDR.
2. Prior to 1992, data were included in Yugoslavia.
3. Prior to 1992, included data for Serbia and Slovenia.




Capital inflows (outflows (-))

1992

31,032
1,629
4.
5.
6.
7.

900
15
257
-2
611
2
19
14
(D)

O
-1

19,147
-81
388
18,653
-821
(*)
-47
6
471
421
158
(D)
0
0
(D)
0
-1
98
5
17
0
1
4
0
2

n
28
0
0
0
3
35,699
1,503

-613
5
49
-7
-613
-13
-33
-21

()

n

465
500
213
-6
-213

D
-28
-3

0
4
-23
13
-7
2
23
-4
3

-24
-2

20,474
1,279
259
18,754
-698
19
56
-5
370
356
84

10,975
-200
339
10,660
333
-14

D

-419
312
-10
D

4,685
663
5
3,960
46
13
-23
8
-22
7
28
-1

0
0
-1
37
3
-13
0
4
(*)
-1
0
-1
55
0
0
0
1

20,836
-700

n
4
-15
2
0
3
3
1
0

n
0
1
0

0

n
-1
-3
36
0

n
-4
0
0
-1
2

n
0

11,488
61

-310
38
-248
_2

19
37
-42

-28
-18
-52
-1

38
-22
11
3

O

n

D

-8

o

0
o
(D)

n
0
-9
-1

R
O

-1,938
26

1,404
75
-39
1,355
-2
-2

-8

•-4

0
7
-1
1
160
-254
-15
670
-149

n

1
9
33
-18

-66
-1
25
11

1
0
0
0
0

()
0
0
0
0
-1

n

-60

-35
2
8

4
3
0
0
0
1
0
0
0

-164

n

o

n

0

0

-18
-2
46
-7
-14
-26
-14
-9

-35
-61
33
-6
48
-27
-23
1
(*)
0
-23
-1
1

-148
-62
42
-7
-125
7
-3
2
(*)

-2,526
-280
-32
-2,085
-82
-2
-7
-9
-16
-4
-9

-2,228
-178
47
-1,794
-163
-9
-38
-9
-19
-2
-63

n
0
-5
-1
1
-1,481
-328
-16

-996
-115
-6
-15
-5
18
-3
-15

0
0
(*)
0
0
-1
-20
_-j

0
7,467
50

n
n

0

1
0
4
8
0
0
0
1
0
0
0

n

o
9,322

(*)

4,579
123

-1

n

n
0
(•)
0
0
-1
-20
-13
5
0
3
8
0
0
0
9
0
0
0
(*)
2,552
72

n
0
0
-1
19
(D)
-17
0

0
(*)
o
0

n
-14
0
0
0
(*)
4,296
-61

Prior to 1992, data were included in the Union of Soviet Socialist Republics.
Prior to 1992, included data for Russia.
Beginning with 1992, no longer recognized by the U.S. Government.
See footnote 1, table 10.1.

NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, income and capital
inflows are shown without a current-cost adjustment, and income is shown net of withholding taxes.

July 1993

SURVEY OF CURRENT BUSINESS

•

85

Table 17.—Foreign Direct investment in the United States: Industry Detail for Selected Items
[Millions of dollars]
Direct nvestment position on a historical-cost basis
1988
All industries
Petroleum
Petroleum and coal products manufacturing
Integrated petroleum refining and extraction
Petroleum refining without extraction
Petroleum and coal products, nee
Other
Oil and gas extraction
Crude petroleum (no refining) and natural gas
Oil and gas field services
Petroleum tanker operations
Pipelines, petroleum and natural gas
Petroleum storage for hire
Petroleum wholesale trade
Gasoline service stations
Manufacturing
Food and kindred products
Beverages
Other
Meat products ...
Dairy products ...
Preserved fruits and vegetables
Grain mill products
Bakery products
Other food and kindred products

1989

1990

1991

1992

314,754

368,924

394,911

414,358

36,006
29,469
28,705

40,345
31,137
29,172
1,754

42,882
31,261
29,220
1,782

40,196
28,455
27,158
1,016

69,010

48,422

25,446

3,388

12,774

7,491

2,936

-1,791

2,470

858

-2,691
-1,785
-1,852

-1,878
-1,287
-1,074

2,656
2,849
2,704

2,862
2,664
2,445

3,119
2,951
2,827

1,051

107
37

787
679
632
26
21
108

281
11,741
2,903
2,286

11,479
2,990
2,035

387
221
329

166

128

508

617

955

-108

-89
-96
7

P)
P)
124

P)
P)
P)

P)
P)
P)

1,126

P)

P)

P)
P)
P)

P)
P)
P)

P)
P)
P)

1,100

1,184

1,172

472

560

487

8,580

827

929

924

4,973

2,986

3,022

8,969
1,931
3,226

38,408
23,224
8,957
5,348

45,746
23,154
11,528
6,218
4,846

48,414
25,172
12,141
6,128
4,973

50,255
25,326
13,091
6,974
4,864

Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap, cleaners, and toilet goods
Other
Agricultural chemicals
Chemical products, nee

30,926
17,171
6,502
5,062
2191
1,457

734

878
206
672

Primary and fabricated metals
Primary metal industries
Ferrous
Nonferrous
Fabricated metal products
Metal cans, forgings, and stampings
Cutlery, hardware, and screw products
Heating equipment, plumbing futures & structural
metal
Metal services, ordnance, and fabricated metal nee ....

10,873
6,348
1,496
4,853
4,524
1,464

238

299

316

4,608

4,674

4,547

15,110
6,550
2,236
4,314
8,560
2,246

13,713
7,235
2,164
5,070
6,478
3,189

13,164
7,807
2,112
5,695
5,356
2,715

13,182
7,485
1,967
5,518
5,697
2,911

585

605

599

466

478

962

1,226
4,484

1,203
1,487

694

705

1,513

1,481

Machinery
Machinery, except electrical
Computer and office equipment
Other
Engines and turbines
Farm and garden machinery
Construction, mining, & materials handling
machinery
Metalworking machinery
Special industry machinery
General industrial machinery
Refrigeration and service industry machinery
Industrial and commercial machinery, nee
Electric and electronic equipment
Household audio & video, & communications
equipment
Electronic components and accessories
Other
Household appliances
Electrical machinery nee

22,452
9,273
2,160
7,113

27,839
12,762
2,981
9,780

27,626
11,527
2,608
8,919

28,584
11,473
2,873
8,599

67
278

114
334

147
1,188

P)

3,076

3,942

2,092

H

-258
-239

-174
-193

-44

-70

-35

-19

P)

P)

P)
(

P)
P)
P)

P)

-17

19
7
81

-897

-1,555
1,973

333

390

320

709

7,424

-1,287

1,010

1,388

16
340

-70
345

-38
14
84

32
106
93
822
33
-76

-50
-23
-74
455

143

7,754

-289
-254

-52

17,053

200

284

-194
-124

-67

7,757

155

9,525

86
37
168

38,604

25,898
9,970
15,928

187

199
20
198

418

159,492

23,773
9,303
14,470

86
879

-193
-287
-243

P)
P)

8

-1.758

-9
329

109
521

114
299

5,749
3,459
1,003

13,341
4,711
7,577

8,459
1,659
5,288

869
419
251
167

873
180
-24
204

795
717
51
666

2,312
1,156

3,223

3,037
1,419

410
746

522
513
9

1,156

2,701

413
364

777
-24

1,603

137
242

26,381
10,936
2,360
8,576

87

P)
P)

190

8,276

4,039

6,207

5,496

2,721

1,371

4,277

1,331

2,096

448
154
294
-1
29
13
45
20
189

1,359

1,129

1,426

1,155

427
931
34
-15
15
560
91
246

624
505
-34
-32
46
469
43
12

636
790
-19
46
31
511
77
145

512
643
-19
33
17
520
44
48

2,846
1,538

2,872
1,513
1,062

4,298
1,210
2,286

492

739

2,187

2,459

242
54
30
24

309
494
38
455

369
392
30
362

408
214
21
193

728
485
179
307
243
70
18

555
355
131
225
199
132
-5

-541
-404
-262
-142
-136

-311
-197
-166

-44
413
210
12

906
492
176
316
414
273
19

-42
-4

15
13

17
173

63
59

20
135

-73
145

-89
-2

-70
-72

-2,022
-558
-569

242
269
7
262
3
-3

-289

196

-2,228
-1,274
-1,104
-170

-1,554
-794
-478
-316

-1,132
-606
-304
-301

32

61

6
-14

9
9

138
3
32
70
12
5
-27

-63
-9
120
70
34
11

-71
-27
-84
51
-57

-384

-955

-760

-36

-161
-301

102

84
-197
-413

746
41
98
-58
25

3,489
3,787

590
-56
-831

60
-891

231
-182
-138

-210

54

-95

1,412

145
264

-552

6,094
4,446
1,045
3,402

7,820
3,374
1,712
1,662

-1,097
1,404

649
550
99

1,367

25
226

96
154

24
860

P)

P)

-175

51
-78
104

518

28
1,996

1,714

1,283

757

772

682

1,176
1,985

899
231

891
689

869
759

948
674

1,284
1,743
1,000

700

28
753
82
979
26

462
149
66
269
48
419

13,179

15,077

16,099

17,111

15,445

1,647

4,446

5,039
1,808
6,332

5,169
4,173
6,757
2,113
4,644

5,492
4,043
7,576
2,060
5,517

5.032
4,102
6,312
1,849
4,463

963

1,404
1,370
1,671

P)
(D)

5,471
3,236
6,370
2,081
4,289

P)
P)

196

-20

-1,192

Other manufacturing
Textile products and apparel
Textile mill products
Apparel and other textile products
Lumber, wood, furniture, and fixtures
Lumber and wood products
Furniture and fixtures
Paper and allied products
Pulp, paper, and board mills
Other paper and allied products
Printing and publishing
Newspapers
Other
Miscellaneous publishing
Commercial printing services
Rubber products
Miscellaneous plastics products
Stone, clay and glass products
Glass products
Stone clay concrete gypsum etc
Transportation equipment .
Motor vehicles and equipment
Other transportation equipment nee
Instruments and related products
Measuring, scientific, and optical instruments
Medical instruments and supplies
Photographic equipment and supplies
Other
Tobacco products
Leather and leather products
Miscellaneous manufacturing industries

41 874
2,075
1 508

46 008
2,873
2,257

43176
1,785
1 227

42 651
1,616
1 185

43 777
1,349
1 061

17,351

6,463

5877

567
592
266
326

616
605
447
158

558
770
439
331

431
444
100
344

287
489
93
396

511
399
111
-65

1,942

1,678

755
924

2,763
1,116
1,646
11,899
3,197
8,701
7,221
1,480
3,946
1,634
9,458
1,786
7,672
3,647
3,100

2,587
1,019
1,568
11,348

2,607

407

138
225
18
207

749
719
30
42
123
-81
471
375
96

5,511

2,458

483

48

5,027
3,527
1,500
1,869
-112
3,650

2,410
3,531
-1,122

45
-5
50
201
100
101
881
342
539
716
558
158
265

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




780
4,165
3.116

927
122

548
8,094
5,736
2,348

972
1,635
11,317
/D\

5,722

3,725
2,106
9,219
1,759
7,461
3,967
2.938
1 030
7,616
4,629
2,986

3,979
2,520
9,130
2,137
6,993
3,837
2,722
1,114
8,172
5,014
3,121

n

36
378

-360
1,044

P)
(D)

-203

155
-7
245
103
162
271

-20
258
48
76
-91

-160

1,347

-1,464

356
910

174
119

-454

-996

1,054
1,074

-1,107
-198
-910

2,281
-196

1,486
-173

-62

-32

-134

-142

-21
-42
21

42
-10
52
31
-45
76

1,076

-93
1,170

169

P)
P)

-414

55
33

98

-313

18
-331
-572

95
-100

P)

3,440

-70
-43
-92
-29
-13
-60

51
-7
-70
79

-121
-226

12

^93
-40

-150

-239

-453

-325
-537
-139
-398

1,764

826
-64
-39
-25
37
31
6
212
62
150

-1,033
-193

-1,401
-173

-92

-20

-102

-153

-30
-37
7
-22
-5
-17
97

42
58
-16
54
28
26
291
86
205
81
84
-4
-111

-447
-487

-269
-288

40

19

-119

-432

69
181
-5
186

-24

-177

P)

-90

2,614

234

-24

2,380

-238

-359

1,573
1,296

302
500

-267
-282

815
165
66

-198
2.366
2,179

-43
130
60
70

15
97
81

3 950

-1,094

-2143

399
-10
926
29
-3
900

64
-11
75
564
383
144
36
447
244
-2
205

-173
-130

277
556
244
220
92

202
-10
212
110

674

857

P)
P)

P)
P)

10

-97

-51

4,889

1,849

835
309
541

448
157

8
253

-103
-675

2,284
1,034
-128

781
2,869

768
710
58
1,046

11
-818

23

P)

P)

877

1,023

1,247

P)

P)
P)
2,064

2,177

305

45,456
15 441
3,681
3,444
5986
4,158
4,166

50,910
16225
3,040
3,858
9,737
3,358
5,949

55,471
17272
3,323
4,421
11 607
3,040
6,348

56,936
17 905
3,222
3,690
11,743
2,438
7,398

5,998
2,155

4,308

493
401

277
-90

422

43,725
15,477
2,809
2,549
6,619
4,409
3,553

-107

154
-735
1,862

768
733

P)

311
50

P)
7,368
1,483

1,004

509
620

966
374
712

3,239
-437
1,009

389
-113
-261

-279

641

2,092

159

-19
357

-582

940

107
-55
175
547
-4
551

271

54
31
23
76
18
58
135
404

751
219
737
278
459

218

P)

11

842
322
145
97
48

241
273
500
52
411

5,849
("I

7,193

459
902
945
-58
18
-76

307

1,597
1,510

P)

74
2,247

-821

521

6,217

1,005

-1,128
-510

-138

I?

440

772
647

577
307

P)

-8

-158

1.618
1,154

535

133

397
-38

1,945
1,343

11,158
2,399
8,759
7,012
1,747
2,871
1,452
9,427
1,595
7 832
4,789
3,736
1 052
5,306
3,233
1 856

P)

293
-14

174

1,535
9,567
2,305
7,261
4,241
3,020
2,724
1,279
9,545
1,293
8,252
2,792
2,012

-210

-26
-15

1,295
1,092

1,672

P)
P)

31,924

156,586

22,543
9,146
13,397

23,585
6,627
16,958

-590
-249
-197

31
36

13

152,805

150,949

16,458
7,961
8,496

-905
-1,352
-1,285

899
804
68
26
152

139
-44

414

6,687

1991

P)
P)
P)
312
P)

P)

122,582

_. 703
5,307

916
52
1,900

1,885

418

1,163

916

P)
()

-255

426

P)
P)

P)
P)

-1,042
-2,010

P)
P)

437

1992

58,571

259

157

1991

-2,049
-2,435
-2,526

11,621
4,277
3,769

6,852

1990

38,545
27,066
25,976

210

5,846

1989

419,526

9,209
1,989
1,861

5,756

1988

1990

6,538
2,267
2,101

2,827

1992

1989

663
451
10
392
48
212
107
203
-96

606
158

Income

Capital inflows (outflows (-))
1988

0

8

213
328
56
194

P)

-300

-82
-218
-355
-327

-28
193
319
-80
-45
-186

P)

P)

P)
P)

3,820

-31
-114

-99
-89
-121

29
-11
-28
-526

-6
-406

32
104
-5
109
-34

P)

-361

99
313

-717
-359
-446
-104
-342
-503
-372
-131

-361
-104
-257
-440
-284
-156

389
259
156
-26
363

430
272
158
-1
571

P)
P)

P)
P)
-9
126
-56

89

166

44

173
241
-31
-99

-159

-227
-157

-150
-208

-136
-107
-175

94

121

139

-116

1
252

-143

86 • July 1993

SURVEY OF CURRENT BUSINESS
Table 17.—Foreign Direct Investment in the United States: Industry Detail for Selected Items—Continued
[Millions of dollars]
Direct investment position on a historical-cost basis
1989

Lumber and other construction materials
Hardware, plumbing, and heating equipment and
supplies
Durable goods, nee
Groceries and related products
Farm product raw materials
Other nondurable goods
Paper and paper products
Drugs, proprietaries, and sundries
Apparel, piece goods, and notions
Nondurable goods, nee
Retail trade
General merchandise stores
Food stores
Apparel and accessory stores
Other
Eating and drinking places
Retail trade, nee
Banking
Finance, except banking
Savings institutions and credit unions
Holding companies
Franchising, business — selling or licensing
Other finance, including security and commodity brokers

1990

1991

Capital inflows (outflows (-))

1992

283

262

887

812
3,092
2,026

975
5,753
1,978
1,654

611
2,882

555
6,000
1,791
381
563
3,266

885
4,177
1,672
916
6,157
1,662
722
577
3,195

9,865
2,340
2,408
961
4,155
168
3,986

8,549
833
2,448
1,465
3,804
313
3,491

9,242
-603
3,679
1,258
4,908
1,683
3,225

8,876
-1,339
5,064
758
4,393
1,519
2,874

16,906

18,431

18,442

8,113
730
4,795
4
2,585

18,657

8,361
1,455
2,319
12
4,575
27,121
9,868

497

1,415
6,189
11
11,042

1989

1990

-58

671

695
2,575
1,835
856
5,618
1,628

1988

1991

1992

1988

-55

1989

1990

38

-29

65
149

61
90
159

275
451
322
153
586
393
145
4
44

140
630
805
-379
465
330
38
-78
175

1
795
124
318
503
21
209
-37
310

21
391
315
229
232
-249
8
83
391

166
458
845
120
129
-30
676

24
152
109
106
371
124
124
-61
185

-1,328
-1,463
-2
83
55
109
-54

401
-948
1,010
-36
375
-7
382

-753
-343
738
-495
-654
-303
-351

-2,210
-765
-679
-350
-416
-208
-209

201
42
213
-102
49
9
40

-1,803

396
4,056
1,321
2,736

1,336
738
-431
-159
1,189
66
1,122

21,548

22,848

2,737

2,221

925

3,108

1,246

10,691
2,107
2,417
15

10,962
1,992

11,210
414

6,152

6,736

615
58
1,090
2
-535

8,893

-3,374
167
-58
2
-3,485

3,455
643
62
3
2,747

-102
243
-15
3
-333

34,030
9,526

2,467
(D)

4,358
1,902
95
2.361

2,174
332
2,483

4,739
1,856

1,202
6,403
1,404
760

690
3,549

6,906
1,532
888
366

4,121
9,267

863
3,952

2,216
18

1991

1
-14
159
45
97
-93
110

71
74
-67
10

4
39
-44
70

97
14
82

-483
-530
228
-101
-80
-6
-74

-1,100
-621
202
-488
-192
14
-207

1,482

459

-1,447

-341

-358
49
193
2
-602

31
-19

-102

-756
18
85
2
-862

-1,074
82
14
3
-1,173

-1,176
-1,810
105
528

1,016
156
40
820

734
226
89
418

516
97
774

1,264
460
119
685

150
2

Insurance
Life insurance
Accident and health insurance
Other insurance

7,263
771
10,958

13,133

16,264

34,150
10,775
1,274
22,101

1,163

2,239
604
62
1,573

Real estate

25,867

30,386

34,939

34,433

35,244

3,164

3,800

6,608

597

69

-176

-270

-1,282

-1,579

Services
Hotels and other lodging places
Business services
Computer and data processing services
Computer processing and data preparation services .
Information retrieval services
Computer related services, nee
Other business services
Advertising
Services to buildings
Equipment rental and leasing, except autos &
computers
Personnel supply services
Business services, nee
Motion pictures, including television tape and film
Engineering, architectural, and surveying services
Accounting, research, management, and related services .
Accounting, auditing, and bookkeeping services
Research, development, and testing services
Management and public relations services
Health services
Other
Automotive rental and leasing, without drivers
Automotive parking, repair, and other services
Miscellaneous repair services
Amusement and recreation services
Legal services
Educational services
Other services provided on a commercial basis

19,048

20,614
5,765
6,629
2,084
32
183
1,869
4,546
1,027
187

30,592

33,632
12,055
6,283

35,363
11,973
6,229

8,825

1,391
20
196
1,175
4,892
1,404

1,391
21
218
1,152
4,838
1,081

6,399
1,863
2,973
1,228
-75
64
1,238
1,745
(D)
-27

10,545
5,116
708
237
14
18
205
471
776
37

3,201
1,056
381
184
-1
19
166
197
-44
12

1,763
-217
250
11
1
22
-12
239
-114

-500
-104
-53
-2
-22
19
1
-52
-55
-14

-677
-153
-324
-32
19
36

-400
-217
184
-26
-2
7
-31
210
34
10

-1,277
-463
-12
67
-1
31
37
-79
-47

n
n
-98

354
-91
-34
552
-51
342
0
191
151
31
889

343

7
25
-15
-36
-277
-27
0
-52
25
13
-15
-1
-5

Other industries
Agriculture, forestry, and fishing
Agriculture
Agricultural production—crops
Agricultural production—livestock & animal specialty ..
Agricultural services
Forestry and fishing
Forestry
Fishing, hunting, and trapping
Mining
Coal
Coal mining
Coal mining services
Other
Metal mining
Iron ores
Copper, lead, zinc, gold, and silver ores
Other metallic ores
Metal mining services
Nonmetallic minerals, except fuels
Nonmetallic minerals mining, except fuels
Nonmetallic minerals services, except fuels
Construction
Transportation
Railroads
Water transportation
Transportation by air
Pipelines, except petroleum and natural gas
Passenger transportation arrangement
Transportation and related services, nee
Communication and public utilities
Communication
Telephone and telegraph communications
Other communications services
Electric, gas, and sanitary services
#
D

4,010
7,489
846

145
77
624
6,643

n
1,550
()
354
567
1,524
2,801
2,280
0
61
2,218
198
747

n
n

44
373
(*)
4
240
13,651
1,116
1,104
618
426
60
12
-5

16
7,440
5,275
5,273
2
2,166

1,247
116
1,083
50
-1
918
918
(*)
1,519
1,994

671
24
69
0
57
1,173
1,582
52
154
-103
1,530

Less than $500,000 (±)
Suppressed to avoid disclosure of data of individual companies.




22,509
8,483
893

()
2,247
2,028
3.276
420
0
53
367
282
2,214
D

1,186
1
22
919
13,027
1,350
1,271
737
471
64
79
64
15
4,741

933
933
1
3,808
1,746
(D)
1,378
216
(D)
2,062
2,062
0
2,407
2,221
688
50
82
0
169

1,233
2,307
-86

n
(D)
2,393

989

10,537
5,804
1,358

17
199
1,142
4,446
1,534
143

154

554
346
1,869

839
1,626

9,404

9,788

1,130
493
0
9
485
534

1,009
917
0
277
640
572
3,008
-5
81
30
1,969
1

2,690
(D)

n
8
1,225
1

25
1,364
19,616
1,457
1,175
668
444
62
282
278
4
8,486
829
830
-1
7,656
6,447

1,439
23,065

n
1,200

25
907
18,775
1,107
1,004
541
402
61
103
81
22
8,116
1,291
1,293
-2
6,825

n
1,672
11,498
1,001

889
0
314
575
604
3,169
11
130
-58

1,935
2
32
1,117
16,839
1,058
937
508
379
50
121

()

()

2,510
4,401
586
(D)

n
429
3,815

n
n
n
156
506
-192
1,378
0
-57
1,436
7

216

n
n
11

158
(*)
1
56
3,554
-86
-~te
-67
25
(*)
-43
-42
-1
2,262
1,831
1,831
(*)
431
226
(D)
232
-5

108
5,371
495
-4
856
856
0
3,842
2,248

8,481
1,643
1,646
-3
6.837
5,895
113
5,302
486
-5
942
942
0
2,135
1,493

944
90
-557
0

702
92
-902
0

243
1,360
3,278
1,062

130
1,640
3,462
1,045
233

101
1,500
3,671
1,407
423

0
-38
314
620
-148
21

812

2,216

2,417

983
2,265

-169
768

(D)
5,904
326
(D)
1,210
1,210
0

4,110
2,285
954
83
-355
0

n
n

5,969

n
205
205
(*)
147
610
381

()
329
-234
289
()
'
0
-38
38
170
1,339
(D)

n
738
()
'
18
579
74
73
59
10
3
1
-1
2
639
-8
-7
-1
646
183
(D)
66
80
(D)
463
463
0
205
191
37
17
63
0
70
4
-409
-1,319

n
n

910

3,833
415
57
0
-53
110
-41
457

n
n

-91
145
()
*
385
3,875
-45
-42
-32
-8
-2
-3
12
-14
2,836
-17
-16
2,854
2,560
(D)
2,426
70

n
293
293
0
508
583
268
56
38
0
78
142
-8
9

n
n

-54
758
()
*
-1
177
376
-114
-140
-109
-29
-1
25
18
8
523
393
394
-1
130
489
(D)
331
159

n

-359
-359
0
-229
16
-153
4
-173
0
-4
343
180
-8
()
187

n
93

1,650
-27
10
0
76
-66
29
67
-1
-118
-22
-18
219
-214
-57
-75
-32
-32
-10
18
(D)

n
720
775
776
-1
-55
-141
5
-136
-9
-1
86
86
0
-294
-702
-360
2
-184
0
-28
-132
118
270
187
83
-152

-87

-292
-360
-59
28
28
70

-201
-19
-25
0

12
79
76
-351
-22
5
0
-39
44
9
-7

-24

-M
22
20
24
-1
-7
-2
-34

0

0

16

69

-1
116
68
-162
-152
-72
-78
-2
-10

n
-1

-37
-153
-128
-72
-54
-1
-26
-25
-1
146
94
95
(*)
52
19
6
19
-6
-1
33
33
(*)
-205
51
39
-53
-6
0
9
62
123
-3
-1
-1
126

212
-173
-168
-97
-73
1
-5
-2
-3
262
27
27
-1
235
137
3
137
-2
-1
98
98
0
-25
-1
-12
-18
-9
0
-3
41
149
-61
15
-76
210

n
(*)

-52
-70

()
324

0
_•]

324
303
-7
317
-6
-1
21
21
0
-114
-66
20
-43
-27
0
-2
-13
87
-156
9
-165
243

n
-75

n
-576
-167
-39
0
-36
-3
27
-47

0
(D)
-42
()
*

fl
-279
-180
-179
-78
-98
-3
-2
-5
3
334
2
3
-1
332
369

0

401
-31
-1
-37
-37
0
-257
-241
-57
-13
-121
0
-13
-37
66
-105
7
-111
1993, income and capital
170

NOTE.—In this table, unlike in the international transactions accounts, as revised in June
inflows are shown without a current-cost adjustment and income is shown net of withholding taxes.

July 1993 •

SURVEY OF CURRENT BUSINESS

87

Table 18.—Foreign Direct Investment Position in the United States on a Historical-Cost Basis and Direct Investment Income,
by Country of Each Member of the Foreign Parent Group and by Country of Ultimate Beneficial Owner1
[Millions of dollars]
1990
By country of each member of the foreign parent
group
Position
All countries

Position

Income

Position

Position

Income

By country of ultimate
beneficial owner
Position

Income

Income

2,936

394,911

2,936

414,358

-1,791

414,358

-1,791

419,526

2,470

419,526

57

40,056

1,293

37,301

-1,105

42,583

-511

38,997

-60

44,613

699

247,320

4,400
-136

230,084

251,248

2,085
-170

239,314

4,639

236,778

-29

-100
-915

1,376
22,154

-97
365
-38
-34

438

935

-94
-23

387

4,383
-110

3,790

1,535
-192
-189

248,461

165
-49

4,382
-182
-166

3,632
1,122
1,931
28,473

11
-133

-147
-24
-274

32,164
1,671
4,061
188

625
3,900
819
1,504
18,650

Germany
ireland
Italy
Liechtenstein
Luxembourg
Netherlands

28,232
1,340
1,524
167
2,195
64,671

-55
59
179

335

488

263

-206
-1,024

559

-81
-462

3,293
1,083
1,836
27,010

206
-9
-392
-76
-74
1,480

40,296

3,089
1,301
1,305
24,155
28,618
1,823
2,705
110
937
59,355

-714
-209
-259
-45
-123
381

33,953
1,883
3,556
69
420
43,172

2
-42
-791
-231
-163
-700
-79

-82
370

773
792

1,155
5,684
19,189
100,386

803
928

-12
-30

-122
364
4,649

-353
223
4,078

7,185
19,343
94,217

-346
3,846

-36

228

-64

385

-57

300

20,168

18

9,577

106

17,665

-116

10,330

6,140

390

7,020

32
15

6,098
1,718
1,036

141

377
575

478

178
121
45

681

93
-22
-99

1,974
688

145
24

413
45
51
281
10
26

6,836
1,377
1,188

4,188

South and Central America
Brazil
Mexico
Panama
Venezuela
Other

797
6,610
19,674
94,477

-35
30

-121
214
5,593

295

Latin America and Other Western Hemisphere

21
25

5,484
17,674
98.676

Norway
Spain
Sweden
Switzerland
United Kingdom
Other

3,478
192
2,338

-34

496
504

770

19
7

-110
-381

635

6
166
-73

297

-131

948

47

17

-2

505

-41
-3

50
86
-35
-552

10
49S

-18

10,810

640

Middle East
Israel
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other

-38

4,425

. . . .

2,335
2,119
216

-2
46
_7

86
92,948
6,542
1,511
83,091
-1,009

Asia and Pacific
.
Australia
Hong Kong
Japan
Korea Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Other

-14
-26
-14
-1,481
-328
-16
-996
-115

56

-6

157
77
1,289
836
398

-15
-5
18

-3
-15

United States

:

220,874
4,216

4,579
123

720

-7

4,909
241
3,521
1,232

-152
-54
-91
-210

188

-37

99,107
8,863
2,311
85,898
-1,168
74
615
115
388
1,193
819

-2,669
-613
-470
-1,018
-122
-6
-31
-9
-65
-67
-67

2,940

1,805
-16
1,811
99

4,581
-348

10,646
1,194
1,261
7,898
-904
1,196

-530
47
-176
-105
-307

643
-14

-94
-3

657

-91

4,771
1,147
1,891

-35

12

325

200,951
11,896

708
4,841
455

-372

97
-26

561

538

14,028
1,535
1,550
12,974
-2,979

Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
United Kingdom Islands, Caribbean
Other

1. The ultimate beneficial owner is that person, proceeding up a U.S. affiliate's ownership chain, beginning with
and including the foreign parent, that is not owned more than 50 percent by another person. The country of ultimate
beneficial owner is often the same as that of the foreign parent, but it may be a different foreign country or the
United States.




Position

Income

By country of ultimate
beneficial owner

29,544

Europe
Austria
Belgium
Denmark
Finland
France

Addenda:
European Communities (12)
OPEC 2

By country of ultimate
beneficial owner

1992
By country of each member of the foreign parent
group

394,911

Canada

Africa ....
South Africa
Other
. . . .

Income

1991
By country of each member of the foreign parent
group

-61

1,598

33
-6
48

99
59

-27
-23

102,730
6,083
1,763
92,896
-618
41
113
54
870
1,142

-2,526
-280
-32
-2,085
-82

-23

386

-2
-7
-9
-16
-4
-9

2,552
72

-264

29,205
2,273

-457

571

-447

40
543
61,341

1,333

69
-67
-22

1
80
35
525

204

-62

10,835

168

7,378

333

502

49
66
169
47
2

7,257
1,980
1,682

190
123

858

-21
-11

1,184
4,732

2,230

183

502

683

8

456

3,495

-29
53
33
-22

11,518

-91

38
460

989
1,577
8,453

1,642
121

56

107,822
6,754
2,623
95,542
-803

-2,921

107,725
7,140
1,714
96,743
^96
54
108

1,962

-29

-62
42
-7

-9

266

-42
-11

-2
40
88
-48
-242

-51
77
-36

3,238

7
-3

968
150

-112
-117
-4

-2,228
-178
47
-1,794
-163
-9
-38
-9

113,056
7,204
3,017
99,661
--675
81

-2,821
-262
-271
-1,783
-175
-19

521

-63

130

-19

463

-2
-63

1,735
918

-10
-13
-84
-143

3,239

59
847
1,154
402

-125

242

206,140
10,943

4,028
14

263

209,490
10,477

-31
65

9,801
1,228
3,951

-28

-33

-21

292
2,295

-148

-310

79

-16

4,813
1,131
1,893

162

534
119
265
1,714
996

621
3,578

1,204
1,057
147

-322

-95

209

-83
-3
-80

9,467
1236
3682
273
3,121
994

-375
-2,137
-79
-7
-21
-14
-88
-71

-125

635
-17
652

-81
-284

-2

641

669
308
14

-65
-23

-59
40
-45
81

18
65
315

55
475

2,333

3

1,632
1,445
188

-41

-75

350

259
100

-2

-27
1,115

-46

416
18,895

668
235
15

533
41,622

3,732

230

270

-133
31
-908

-1
14

-68

2,307

32,480
1,660
3,179
-11

671
718

3,703

240

410
-10

7,882
19,448
92,795

625
1,290
6,923
19,562
94,718

3,209

223,550
4,173

4,066
1,308
1,385
23,808

2,470

219,133
4,222

4,296
-61

2. See footnote 1, table 10.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, income is shown
net of withholding taxes and without a current-cost adjustment.

88

SURVEY OF CURRENT BUSINESS

July 1993

U.S. Direct Investment Abroad:
Detail for Historical-Cost Position and Balance of Payments Flows, 1992
of tables presents country-by-industry
estimates and estimates by detailed account for U.S. direct investment abroad (USDIA). It covers the USDIA position on a
historical-cost basis and the related capital and income flows
and presents estimates of the position, capital flows, and income
for all countries and for all industries in which investment was
made.
The estimates in tables 3-18 differ in several respects from
those for comparable items included in the U.S. international
transactions accounts and in the international investment position of the United States.1 Whereas the estimates in tables 3-18
are on a historical-cost basis—the only basis on which detailed
estimates by country, by industry, and by account are available—
the estimates in the U.S. international transactions accounts are
on a current-cost basis, and those in the international investment
position are on both a current-cost and a market-value basis.
Additionally, the estimates of direct investment current-account
items (income and services receipts) in tables 3-18, unlike those
in the U.S. international transactions accounts, are net (after deduction) of U.S. and foreign withholding taxes; estimates gross
of withholding taxes are not available by country or by industry.
Table 1 shov/s the position and rates of return for USDIA on all
three valuation bases (historical cost, current cost, and market
value), and table 2 reconciles the estimates presented in tables
3-18 with those included in the U.S. international transactions
accounts.
The estimates presented here incorporate two changes from
those published in August 1992. First, the estimates for 1989
forward have been revised to reflect the results of the 1989 benchmark survey of USDIA; the estimates published last August were
based on the 1982 benchmark survey. Table A compares the
prior and current estimates for 1989. For a discussion of the
revisions to the estimates, see the technical note that follows.
Second, the estimates of capital flows shown here incorporate a new methodology, introduced in June 1993, for estimating
increases and decreases in equity capital of affiliates that are exempt from BEA'S quarterly surveys of direct investment because
THE FOLLOWING SET

1. See "U.S. International Transactions, First Quarter 1993" and "The International Investment Position of the United States in 1992," SURVEY OF CURRENT BUSINESS 73 (June
1993).

The survey from which the estimates were derived was conducted
by Mark W. New under the supervision of Patricia C. Walker.
Laura A. Downey, Steven C. Ladd, Marie K. Laddomada, Leila C.
Morrison, Gary M. Solamon, and Dwayne Torney assisted with the
survey and with the preparation of the estimates. Smith W. Allnutt
in programmed the tables. Jeffrey H. Lowe wrote the technical
note.




of their size.2 The new methodology, which affects estimates for
1990 forward, parallels and extends the methodology introduced
in June 1992 to account for equity capital increases and decreases
for delinquent affiliates, that is, for affiliates that should have
been reported in the quarterly surveys but were not. Incorporation of estimates for both delinquent and exempt affiliates
corrects for a systematic downward bias in the reported data.

Technical Note
For USDIA, estimates of the direct investment position for 198991 and estimates of capital flows, income, royalties and license
fees, and charges for other services for 1989-92 have been revised
to incorporate information from BEA'S 1989 benchmark survey of
USDIA; previously, these estimates were based on the 1982 benchmark survey. Revisions to the estimates for 1990 forward also
reflect the inclusion of new or revised data from BEA'S annual
and quarterly surveys of USDIA.

Benchmark surveys are normally conducted every 5 years and
cover virtually the entire universe (in terms of value) of foreign
affiliates of U.S. direct investors. In the 1989 survey, reports were
required for affiliates that had total assets, sales, or net income
of $3 million or more in their 1989 fiscal year. Although these
affiliates accounted for only about 70 percent of the number of
foreign affiliates, they accounted for more than 99 percent of the
assets, sales, and net income of all foreign affiliates in 1989.3
Benchmarking the 1989 quarterly survey data.—The benchmarking procedure comprised a series of steps that mainly involved
the comparison of data reported in BEA'S quarterly sample survey of USDIA with data reported in the 1989 benchmark survey.
First, data were removed from the quarterly estimates for those
affiliates that the benchmark survey indicated had either left the
universe or been consolidated into other affiliates since the last
(1982) benchmark survey. Next, for affiliates that were reported
in both surveys, data from the 1989 quarterly surveys and the
1989 benchmark survey were compared and reconciled. Significant discrepancies were investigated and resolved—usually in
favor of the benchmark survey data, which were generally considered more accurate because they were reported later than the
quarterly survey data and therefore incorporated updated information from reporters. Additionally, because the benchmark
survey data were more comprehensive and integrated, they could
be more thoroughly edited and cross-checked.
2. See "U.S. International Transactions, Revised Estimates for 1983-92," SURVEY 73 (June
1993): 61.
3. Affiliates that were exempt from reporting had to file an exemption claim on which
they reported the value of their total assets, sales, and net income. Of the universe of 27,086
foreign affiliates, 18,899 were required to report, and 8,187 were exempt from reporting.
A detailed description of the methodology for USDIA, including basic concepts and
definitions, is in U.S. Department of Commerce, Bureau of Economic Analysis, U.S. Direct
Investment Abroad: 1989 Benchmark Survey, Final Results (Washington, DC: U.S. Government
Printing Office, October 1992). See the inside back cover of this issue for order information.

SURVEY OF CURRENT BUSINESS
As part of this reconciliation process, the benchmark survey
data were adjusted from a fiscal year basis to a calendar year
basis—that is, from the basis on which the data were reported to
the basis on which the U.S. international transactions accounts
and the international investment position of the United States
are compiled. For each affiliate, the sum of the quarterly survey
data for the four quarters of the affiliate's 1989 fiscal year was
compared with the fiscal year 1989 total reported in the benchmark survey. For approximately 60 percent of the affiliates, the
fiscal year coincided with the calendar year.4 To obtain calendar
year estimates for the remaining 40 percent of the affiliates, the
benchmark survey data for those fiscal year quarters that were in
calendar year 1989 were isolated and were added to the quarterly
survey data for those calendar year quarters that the benchmark
survey did not cover.
Finally, data were added to the estimates for affiliates that
were reported in the benchmark survey but not in the quarterly
survey. The procedure used for adding the data depended on
the item being estimated. For income and its components, for
royalties and license fees, and for charges Tor other services, the
data from the benchmark survey for fiscal year 1989 were used as
the estimates for calendar year 1989 and were distributed equally
among the four calendar quarters of the year. For the remaining
items (equity capital, intercompany debt, and the direct invest4. The fiscal year data reported in the benchmark survey for the direct investment
position, capital flows, income, royalties and license fees, and charges for other services were
published in U.S. Direct Investment Abroad: 1989 Benchmark Survey, Final Results.

July 1993

•

89

ment position), the data from the benchmark survey for fiscal
year 1989 were placed into the last quarter of the fiscal year.
Revisions to the 1989 estimates.—Table A compares the revised
calendar year estimates for 1989, which are largely based on data
reported in the 1989 benchmark survey, with previously published estimates for 1989, which were extrapolated from the 1982
benchmark survey, using sample data for interim years.
On the 1989 basis, the historical-cost direct investment position is $381.8 billion, $9.4 billion higher than on the 1982 basis.
Capital outflows are $37.6 billion, $7.4 billion higher, and income
is $53.9 billion, $0.1 billion higher. Net receipts for royalties and
license fees are $0.9 billion higher, and net receipts for other
services are unchanged.
The upward revision of $9.4 billion, or 3 percent, in the position reflects the net effect of previously unrecorded changes over
the period between the 1982 and 1989 benchmark surveys. Most
of the revision is accounted for by affiliates that were reported
for the first time in the 1989 benchmark survey. The upward
revision also reflects prior underestimation of equity capital and
intercompany debt outflows. Much of the upward revision of
$7.4 billion in capital outflows was accounted for by (1) affiliates that were reported in the quarterly surveys but whose data
were not accurate, according to information from the benchmark survey; (2) affiliates that were not reported in the 1989
quarterly surveys but should have been; and (3) affiliates that
were below the exemption levels for the quarterly surveys. The

Table A,—Comparison of Prior and Current Estimates for 1989 of U.S. Direct investment Abroad Based on the 1982 and
1989 Benchmark Surveys
[Millions of dollars]
Direct investment position
1982
basis

1989
basis

372,419
51,393
144,679
176,347

381,781
48,325
147,944
185,512

Canada ...
Petroleum
Manufacturing
Other....

63,919
11,364
30,213
22,342

Europe
Petroleum
Manufacturing
Other

Capital outflows (inflows (-))

Income

Charge for other services
1982
basis

1989
basis

1989
basis

9,362
-3,068
3,265
9,165

30,167
-6,432
13,341
23,258

37,604
-7,113
17,201
27,516

7,437
-681
3,860
4,258

53,800
6,640
26,394
20.766

53,929
5,454
27,034
21,440

129
-1,186
640
674

9,158
7
7,029
2,122

10,014
15
7,610
2,390

856
8
581
268

4,341
505
2,159
1,677

4,333
666
2,442
1,225

-8
161
283
-452

63,948
10,455
30,154
23,339

29
-909
-59
997

474
-2,606
3,288
-208

1,268
-3,644
4,261
651

794
-1,038
973
859

6,475
459
3,935
2,081

6,501
415
4,010
2,076

26
-44
75
-5

807
700
108

974
2
784
189

167
2
84
81

1,294
51
875
369

1,451
39
983
429

157
-12
108
60

179,839
17,484
70,258
92,097

189,467
17,698
71,578
100,191

9,628
214
1,320
8,094

18,012
-2,876
4,127
16,761

23,679
-2,116
6,122
19,674

5,667
760
1,995
2 913

26,978
2,651
13,174
11 152

27,637
2,336
13,875
11 425

659
-315
701
273

5,923
5
4,590
1 329

6,369
2
4,903
1 464

446
-3
313
135

2,601
256
1,254
1 092

2,098
333
1,276
489

-503
11
22
-603

Of which:
Germany
Petroleum
Manufacturing
Other

23,261
2,433
13,811
7,016

23,673
1,827
13,783
8,063

412
-606
-28
1,047

996
-98
-14
1,108

2,522
57
217
2,248

1,526
155
231
1,140

3,385
357
2,391
637

3,530
230
2,481
818

145
-127
90
181

1,089
1
989
98

1,148
2
1,026
120

59
1
37
22

-7
6
-78
65

-69
24
-190
77

-62
18
-112
12

United Kingdom
Petroleum
Manufacturing
Other

61,156
8,540
19,869
32,747

67,722
8,696
20,056
38,969

6,566
156
187
6,222

10,427
-872
713
10,585

11,825
-1,057
1,190
11,691

1,398
-185
477
1,106

7,500
1,268
3,950
2,282

7,672
1,164
4,151
2,357

172
-104
201
75

1,273
2
1,093
177

1,499
1,221
279

226
-2
128
102

1,287
172
453
662

990
194
490
306

-297
22
37
-356

Latin America
Petroleum
Manufacturing
Other....

62,485
4,096
21,479
36,910

62,145
3,883
21,438
36,824

-340
-213
-41
-86

9,011
-297
3,993
5,314

9,094
-338
4,261
5,172

83
-41
268
-142

9,332
345
4,889
4,099

9,245
330
4,613
4,301

-37
-15
-276
202

184
1
133
50

204
2
161
40

20
1
28
-10

172
31
130"
11

160
38
151
-30

-12
7
21
-41

Asia and Pacific
Petroleum
Manufacluring
Other....

53,636
10,842
21,287
21,507

55,805
10,968
23,382
21,455

2,169
126
2,095
-52

3,075
-64
1,764
1,375

4,375
-185
2,649
1,910

1,300
-121
885
535

8,967
2,283
3,814
2,870

8,973
1,838
4,212
2,923

6
-445
398
53

2,209
2
1,576
631

2,432
8
1,733
691

223
6
157
60

135
81
-119
174

384
89
4
291

249
8
123
117

Other
Petroleum
Manufacturma
Other....

8,804
4,883
1,443
2,478

7,454
3,547
1,392
2,515

-1,350
-1,336
-51
37

-706
-595
168
-279

-1,028
-909
-91
-27

-322
-314
-259
252

1,895
882
582
431

1,420
547
324
549

^75
-335
-258
118

35
0
30
5

35

28
6

0
0
—2
1

148
51
20
78

234
143
28
63

86
92
8
-15

International

3,737

2,962

-775

302

216

-86

153

154

1

0

0

0

-9

7

16

AH areas
Petroleum
Manufacturing
Other

• Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.




Difference

1982
basis

Royalties and license fees

1982
basis

Difference

1989
basis

Difference

1982
basis

1989
basis

0

Difference

O

0

Difference

90 • July 1993

SURVEY OF CURRENT BUSINESS

small upward revision in income reflected the net effect of the
addition of affiliates that the 1989 benchmark survey indicated
had entered the universe but that had not been reported in the
quarterly survey and the removal of affiliates that the benchmark
survey indicated had left the universe.
By country, much of the revision in the position was in two
countries—the United Kingdom and Panama—although there
were large, offsetting revisions in several other countries. The
revision in capital outflows was concentrated in Europe and in
Asia and Pacific; the largest revisions were in Germany and the
United Kingdom. The revision in income reflected an upward
revision in Europe that was mostly offset by downward revisions
in Africa, the Middle East, and Latin America.
By industry, revisions in the position varied considerably.
Upward revisions were largest in finance (except banking),
insurance, and real estate (FIRE); manufacturing; wholesale
trade; and services. Downward revisions were largest in
petroleum and "other industries." The revision in capital outflows was largely accounted for by affiliates in manufacturing
and FIRE. The revision in income reflected mostly offsetting
changes in several industries. Changes to industry classifications of affiliates also accounted for part of the revisions in all
accounts.
Estimates for 1990 forward.—For 1990 forward, universe estimates
of the direct investment position and balance of payments flows
are generally derived using (1) data reported in the quarterly surveys for a sample of the affiliates that were reported in the 1989
benchmark survey, (2) data reported in the quarterly surveys for
affiliates that entered the direct investment universe since the
1989 benchmark survey and that met the reporting criteria for
the quarterly survey, and (3) estimates for affiliates that were not
reported in the quarterly surveys.




Conceptually, the estimates of the direct investment position
and balance of payments flows cover the affiliate universe (with
one exception, discussed below). In an effort to ensure coverage as complete as that in the 1989 benchmark survey, estimates
are made for affiliates that were reported in the 1989 benchmark
survey but not in the quarterly surveys, either because they were
exempt from being reported or because they should have been
reported but were not. These estimates are derived by extrapolating the data reported previously for them—usually in the
benchmark survey—based on the movement of the data reported
in the subsequent nonbenchmark years for a matched sample of
affiliates. Then, to obtain the universe estimates, the estimates
for these affiliates are added to the data for affiliates that were
reported.
The exception to the above procedure is intercompany debt
flows, for which the estimates for 1990 forward consist only of
sample data reported in the quarterly surveys, supplemented in
some cases with data from BEA'S annual survey of USDIA. This
item is highly volatile and subject to large revisions, but BEA has
been unable to identify, and therefore is unable to correct for,
any systematic bias in it.
In addition to information from the 1989 benchmark survey,
the revisions in the estimates for 1990 and 1991 reflect information obtained from BEA'S annual survey of USDIA and from late
and revised quarterly reports.
The position for 1990 was revised upward, despite a downward
revision in capital outflows, because of the upward revision in
the 1989 position. The position for 1991 was revised upward
mainly because of an upward revision in both equity capital
outflows and valuation adjustments and the upward revision in
the 1990 position. Income for both years was revised upward;
the revisions were largely in earnings.
Tables 1 through 18 follow. H

July 1993

SURVEY OF CURRENT BUSINESS

•

91

Table 1.—Alternative Position and Rate of Return Estimates for U.S. Direct Investment Abroad, 1990-92
[Millions of dollars or percent]
Changes in 1991 (decrease (-))
Position at
yearend
1990

Valuation method

Historical cost
Current cost
Market value

Total

33,997
32,661
93.292

426,958
622.653
716,258

Valuation
adjustments

Capital
outflows

32,098
29.113
29,113

Rate of return'

Changes in 1992 (decrease (-))
Position at
yearend
1991

Attributable to:

1.899
3,548
64,179

460,955
655,314
809,550

Attributable to:
Total

Valuation
adjustments

Capital
outflows

37,122
34,791
34,791

25,715
11,032
-33,278

Position at
yearend
1992

-11,407
-23,759
-68,069

1990

14.3
10.0
7.9

486,670
666,346
776,272

1992

1991

10.7
7.5
6.7

11.5
7.8
7.3

1. Equals direct investment income divided by the average of the beginning- and end-of-year direct investment
positions. For the historical-cost rate of return, direct investment income (table 2, line 14) is measured after deduction
of U.S. and foreign withholding taxes on distributed earnings and interest and excludes a current-cost adjustment
to earnings and capital gains and losses. For the current-cost rate of return, income (table 2, line 1) is measured
before deduction of U.S. and foreign withholding taxes on distributed earnings and interest and includes a current-

cost adjustment to earnings; capital gains and losses are excluded. For the market-value rate of return, income
(line 1 minus line 8 from table 2 plus column 12 from table 6) is measured before deduction of U.S. and foreign
withholding taxes on distributed earnings and interest and excludes a current-cost adjustment to earnings; capital
gains and losses are included.

Table 2.—U.S. Direct Investment Abroad: Reconciliation With
International Transactions Accounts

Table 3.—U.S. Direct Investment Position Abroad on a HistoricalCost Basis

[Millions of dollars]
Change

Direct investment position
Line

1990
Income with current-cost adjustment, before deduction of
withholding taxes (IT table 1, line 12)
Earnings
Distributed earnings
Reinvested earnings
Interest, net
U.S. parents' receipts
U.S. parents' payments
Less: Current-cost adjustment to earnings
Less: Withholding taxes, net
On distributed earnings
On interest, net
On U.S. parents' receipts
On U.S. parents' payments
Equals: Income without current-cost adjustment, after deduction of
withholding taxes (shown in the accompanying tables)
Capital outflows with current-cost adjustment (IT table 1, line 44,
with sign reversed)
Equity capital
Increases in equity capital
Decreases in equity capital
Reinvested earnings (line 4)
Intercompany debt
U.S. parents' receivables
U.S. parents' payables
Less: Current-cost adjustment (line 8)
Equals: Capital outflows without current-cost adjustment (shown in
the accompanying tables
Equity capital (line 16)
Reinvested earnings without current-cost adjustment (line 19 less line
23)
Intercompany debt (line 20)

1991
1990

59,177
57,285
38,927
18,359
1,892
5,157
3,265

49,766
48,355
35,167
13,189
1,411
4,976
3,566

49,888
48,583
33,294
15,289
1,305
4,153
2,848

-596
2,028
1,799
229
258
29

-2,985
1,599
1,382
217
249
32

-2,331
1,510
1,328
182
207
25

57,746

51,152

50,708

27,109
8,739
21,551
12,813
18,359
12
10,320
-10,308

29,113
17,281
28,081
10,800
13,189
-1,357
-454
-903

34,791
8,007
19,585
11,579
15,289
11,495
10,653
842

-596

-2,985

-2,331

27,705
8,739

32,098
17,281

37,122
8,007

18,955
12

16,174
-1,357

17,620
11,495

13,031
13,302

13,972
14,196

15,109
15,387

650
665
15

697

754
769
15

Royalties and license fees, before deduction of withholding taxes,

net
U.S. parents' receipts (IT table 1, part of line 8)
U.S. parents' payments (IT table 1, part of line 22, with sign
reversed)
Less: Withholding taxes, net
On U.S. parents' receipts
On U.S. parents' payments
Equals: Royalties and license fees, after deduction of withholding
taxes, net (shown in the accompanying tables)
U.S. parents' receipts
U.S. parents' payments
Charges for other services, net 1
U.S. parents' receipts (IT table 1, part of line 9; also shown in the
accompanying tables)
U.S. parents' payments (IT table 1, part of line 23, with sign
reversed; also shown in the accompanying tables)

709
12

13,275
13,487
212

14,355
14,618
264

4,460

4,752

5,429

10,416

10,522

10,958

5,956

5,770

5,529

1. Withholding taxes on "other" services transactions between U.S. parents and foreign affiliates are assumed
to be negligible, and no estimates of them are made. Therefore, there is no difference between the "before-tax"
estimates shown in the international transactions accounts and the "after-tax" estimates shown in the accompanying
tables.
IT International transactions




1991

1992

1991

1992

Percent
1991

1992

426,958
52,812
167,993
206,153

460,955
55,893
180,463
224,599

486,670
55,207
187,276
244,187

33,996
3,081
12,470
18,446

25,715
-686
6,813
19,588

8.0
5.8
7.4
8.9

5.6
-1.2
3.8
8.7

Canada
Petroleum
Manufacturing
Other

69,106
10,511
33,089
25,506

66,853
9,652
31,811
27,390

68,432
7,945
33,306
27,180

-253
-859
-1,278
1,884

^»22
-1,707
1,495
-210

-.4
-8.2
-3.9
7.4

-.6
-17.7
4.7
-.8

Europe
Petroleum
Manufacturing
Other

213,368
21,269
84,355
107 744

233,245
22,993
92,683
117 569

239,389
23,289
93,733
122,367

19,876
1,723
8,329
9 824

6,144
296
1,049
4 799

9.3
8.1
9.9
9.1

2.6

27,480

34,027
(D)
20,031

35,393
2,111
20,951
12,331

6,547
(D)
4,019

1,367
(D)
920

23.8
(D)
25.1

4.0
(D)
4.6
(D)

All areas
Petroleum
Manufacturing
Other

Of which:
Germany
Petroleum
Manufacturing
Other

16,012

1.3
1.1
4.1

n

(D)

n

72,343
10,323
22,967
39,054

78,072
11,082
23,591
43,399

77,842
13,153
20,328
44,362

5,729
759
625
4,345

-230
2,071
-3,263
963

7.9
7.4
2.7
11.1

-.3
18.7
-13.8
2.2

Latin America and
Other Western
Hemisphere
Petroleum
Manufacturing
Other

70,752
4,227
23,379
43,146

76,214
4,121
25,052
47,040

88,860
4,559
26,727
57,574

5,461
-106
1,673
3,894

12,646
437
1,675
10,534

7.7
-2.5
7.2
9.0

16.6
10.6
6.7
22.4

Asia and Pacific
Petroleum
Manufacturing
Other

63,585
12,138
25,485
25,962

71,047
13,694
28,775
28,577

78,163
14,893
30,808
32,462

7,462
1,556
3,290
2,615

7,116
1,199
2,033
3,885

11.7
12.8
12.9
10.1

10.0
8.8
7.1
13.6

Other
Petroleum
Manufacturing
Other

7,599
3,334
1,686
2,579

9,264
4,262
2,141
2,862

9,331
3,314
2,702
3,315

1,666
927
455
283

67
-948
561
453

21.9
27.8
27.0
11.0

.7
-22.2
26.2
15.8

International

2,548

2,331

2,496

-216

164

-8.5

7.0

United Kingdom
Petroleum
Manufacturing
Other

5

12,381
12,637
256

Millions of dollars

Millions of dollars

n

n

Suppressed to avoid disclosure of data of individual companies.

92 • July 1993

SURVEY OF CURRENT BUSINESS
Table 4.—U.S. Direct Investment Position Abroad on a Historical-Cost Basis by Account
[Millions of dollars]
1992

1991

Intercompany debt

Intercompany debt
Equity1

Total

U.S.
parents'
receivables

Net

460,955
55,893
180,463
224,599

435,637

Canada
Petroleum
Manufacturing
Other

68,853
9,652
31,811
27,390

60,897
8,112
30,023
22,762

Europe
Petroleum
Manufacturing
Other

233,245
22,993
92,683
117,569

34,027

U.S.
parents'
payables

Total

U.S.
parents'
receivables

Equity'

25,317
5,435
15,997
3,886

101,715
17,524
32,492
51,700

76,397

486,670

12,089
16.495
47,814

55,207
187,276
244,187

7,956

13,459

1,842
5,388
6,229

5,503
302
3,600
1,601

68,432

1,540
1,788
4,628

7,945
33,306
27,180

6,571
30,613
21,709

1,374
2,694
5,472

206,684
18,163
84,125
104,396

26,561
4,830
8,558
13,173

54,992

28,431
3,277
7,459
17,696

239,389
23,289
93,733
122,367

208,109
17,262
83,230
107,616

29,542

4,485

8,132

n

(")
956

3,647
(D)
2,824

19,075

n

35,393
2,111
20,951
12,331

30,311
1,886
19,041
9,384

78,072
11.082
23,591
43,399

58,676
8,046
20,665
29,965

19,396
3,036
2,926
13,433

27,964
5.453
4,752
17,759

8,568
2,417
1,826
4,325

77,842
13,153
20,328
44,362

Latin America and Other Western Hemisphere
Petroleum
Manufacturing
Other

76,214
4,121
25,052
47,040

92,250
3,888
21,537
66,825

-16,036
234
3,515
-19,785

10,236
1,338
4,588
4,310

26,272
1,104
1,073
24,095

Asia and Pacific
Petroleum
Manufacturing
Other

71,047
13,694
28,775
28,577

63,197
13,727
26,714
22,756

7,850
-32
2,061
5,821

18,643
3,025
6,287
9,331

Other
Petroleum
Manufacturing
Other

9,264

10,271

5,488
2,067
2,716

-1,006
-1,226
74
145

3,757

4,262
2,141
2,862

International

2,331

2,339

-7

All areas
Petroleum
Manufacturing
Other

Of which:
Germany
Petroleum
Manufacturing
Other

n
20,031

United Kingdom
Petroleum
Manufacturing
Other

D

Suppressed to avoid disclosure of data of individual companies.
1. Includes capital stock, additional paid-in capital, retained earnings, and cumulative translation adjustments.




50,458
164,466
220,713

450,685
48,321
168,688
233,677

U.S.
parents'
payables

35,985
6,886
18,588
10,511

111,562
18,237
34.103
59,222

75,577
11,351
15.515
48,711

9,540

15,162
1,837
6,418
6,908

5,623
462
3,724
1,436

31,280
6,026
10,503
14,751

61,723

30,443
2,580
5,337
22,526

5,083
225
1,910

3,297
26

2,947

8,380
251
3,774
4,355

57,100
8,589
17,311
31,200

20,743
4.564
3,017
13,162

31,787
6.092
4,500
21,194

11,044
1,529
1,483
8,032

101,342
4,084
23,486
73,772

-12,483
474
3,241
-1.6,198

10,222

4,559
26,727
57,574

1,566
4,500
4,157

22,705
1,091
1,258
20,355

10,792
3,057
4,226
3,509

78,163
14,893
30,808
32,462

69,218
14,228
28,803
26,188

8,945

665
2,005
6,274

20,784
3,885
7,092
9,807

11,839
3,220
5,087
3,533

2,800
211
746

4,763
4,026
137
601

9,331
3,314
2,702
3,315

10,771
5,047
2.557
3,167

-1,439
-1,733
145
148

3,140
2,052
254
834

4,579
3,785

628

635

2,496

2,353

142

530

8,107
16,017
30,868

(°)

3,780
D

°

8,607
15,840
37,277

1,863
1,408

109

SURVEY OF CURRENT BUSINESS

July 1993

•

93

Table 5.—Change in the Historical-Cost U.S. Direct Investment Position Abroad by Account
[Millions of dollars]
Capital outflows

Valuation adjustments
Intercompany debt

Total

Equity capital

Reinvested
earnings

Total
Net

Increases

(2)

Increases
in U.S.
parents'
receivables

Increases
in U.S.
parents'
payables'

(7)

(8)

(9)

Decreases

(6)

(4)

Total

Translation
adjust-

Other capital gains

Other

(10)

Net

(11)

(12)

(13)

1991

33,996
3,081
12,470
18,446

32,098
1,387
13,040
17,671

17,281
2,076
2,999
12,205

219,081
3,122
7,510
17,449

10,800
1,046
4,510
5,244

16,174
2,074
6,757
7,343

-1,357
-2,764
3,284
-1,877

-454
-1,609
2.185
-1,030

903
1,155
-1,099
847

1,899
1,695
-571
775

-1,785
371
-1,170
-986

2,624
767
-592
2,449

1,060
557
1,191
-688

Canada .
Petroleum
Manufacturing
Other .

-253
-859
-1,278
1,884

1,164
-360
-546
2,070

2,379
385
1,055
939

3,354
430
1,401
1,523

975
45
346
584

33
-738
388
384

-1,248
-6
-1,990
748

-1,042
-206
-1,892
1,056

206
-200
98
308

-1,417
-500
-732
-186

121
55
50
18

-845
-612
-199
-34

-693
57
-583
-168

Europe .
Petroleum
Manufacturing
Other .

19,876
1,723
8.329
9.824

18,928
391
9,444
9,092

6,655
528
1,773
4,354

11,601
678
4,124
6,799

4,946
150
2,351
2.444

7,994
1,900
3,144
2,950

4,279
-2,036
4,527
1,788

3,284
-389
2,605
1,068

-995
1,647
-1,922
-720

948
1,332
-1,116
732

-2,296
83
-1,414
-964

1,821
1,125
-19
716

1,423
125
318
981

Of which:
Germany
Petroleum
Manufacturing
Other

6,547
630
4,019
1,898

6,133

1,022
10
484
528

869
4
475
390

2,386
692
1,596
99

3,594

2,815

-778

413

-335

-82

n

n

n

n

n

n

5,729
759
625
4,345

n

4,513
534
1,471
2,508

6,064
574
1,919
3,571

1,551
39
448
1,063

-1,366
681
-1,145
-902

2,273
(D)
212
-1,737
474
1.475

1,430
132
(D)
-30
388
-226

-843
-80
1,706
-85
-1,701

n

141
2,370
1,281
-174
1,264

n

-281
-724
(D)
43
-473
-294

-41
1,819
(D)
1,115
-43
748

830
0
463
367

United Kingdom
Petroleum
Manufacturing
Other

3,878
3,359
-522
799
3,082

153
6
9
138

1,275
124
342

Latin America and Other Western Hemisphere
Petroleum
Manufacturing
Other .

5,461
-106
1,673
3,894

6,870
24
2,253
4,593

6,352
120
185
6,047

7,881
192
526
7,163

1,529
72
341
1,117

4,523
37
1,780
2,705

-4,005
-133
287
-4,159

-3,362
-278
315
-3,399

643
-145
28
760

-1,409
-130
-580
-700

-385
-3
-75
-307

600
11
-508
1,096

-1,624
-139
3
-1,489

Asia and Pacific
Petroleum
Manufacturing
Other

7,462
1,556
3,290
2,615

4,390
1,166
1,405
1,820

1,939
847
-16
1,107

4,082
896
1 446
1,740

2,143
48
1,462
633

2,914
953
1,117
844

^463
-635
304
-132

1,078
-349
1,145
283

1,541
286
841
415

3,072
391
1,886
795

779
217
290
273

971
185
140
647

1,322
-10
1,456
-124

Other
Petroleum
Manufacturing
Other

1,666
927
455
283

763
190
485
88

-74
(")
2

1,092

n
12
n

1,166
(D)
10
(D)

652
-28
327
353

186
(D)
156
(D)

-375

-561
(D)
-144

902
737
-29
195

-5
19
-20
-4

75
60
-6
21

832
658

International

-216

-19

30

71

41

58

-106

AH areas
Petroleum
Manufacturing
Other

n

n

n

-3
178

12
-38

n
68

-198

0

2

-200

1992

25,715
-683
6,813
19,585

37,122
-156
15,784
21,494

8,007
-119
4,184
3,941

19,585
1,227
6,108
12,250

11,579
1,347
1,924
8,309

17,620
-1,467
8,972
10,115

11,495
1,431
2,627
7,437

10,653
714
1,589
8,351

-342
-717
-1,039
914

-11,406
-527
-8,971
-1,909

-13,746
-1,390
-7,218
-5,138

906
716
-1,806
1,996

1,434
148
54
1,233

Canada ...
Petroleum
Manufacturing
Other .,

-422
-1,707
1,495
-210

3,257
-663
2,244
1,676

792
-470
746
515

2,109
67
908
1,134

1,317
536
162
619

504
-28
584
-52

1,961
-166
914
1,213

2,081
-6
1,029
1,058

120
160
115
-155

-3,679
-1,043
-749
-1,886

-2,578
-615
-1,028
-935

-678
-562
-89
-27

-423
133
368

Europe ...
Petroleum
Manufacturing
Other

6,144
296
1,049
4,799

13,409
306
7.972
5,131

3,752
-7
3,166
594

10,386
247
3,686
6,453

6,633
254
521
5,859

4,538
-882
2,837
2,583

5,118
1,194
1,970
1,954

7,147
497
-140
6,789

2,028
-697
-2,109
4,835

-7,265
-10
-6,923
-333

-10,585
-860
-5.815
-3.910

356
867
-1,187
676

2,963
-17
78
2,901

Of which:
Germany ....
Petroleum
Manufacturing
Other

1,367
-593
920
1,040

1,571

1,143
(»)
419
(D)

293

-217
-362
23
122

938
-81
954
65

590
-152
-6
748

-348
-71
-960
683

-204
(D)
-407
(D)

-561

-317

n

n

United Kingdom
Petroleum
Manufacturing
Other

-230
2,071
-3,263
963

1,327
3,545
1,914
154
1,476

850
(")
350
(D)
2,868

1,673

-675
383
-481
-577

1,351
(D)
95
(D)

3.838

2,486
(D)
-334
(D)

-3,774
156
-3,418
-513

-370
-5,554
(D)
-283
-2,636
-2,635

-334
852
(D)
459
-412
805

-20
-369
1,317

12,646
437
1,675
10,534

13,673
346
3,158
10,169

540
(D)
2,483
211
275
1,998

4,542
(D)
650
(D)
3,720
244
455
3,021

(°)
1,237
34
180
1,023

7,582
-88
3,189
4,481

3,609
223
-305
3,690

-3
231
-121
-113

n

-3,612
8
184
-3,804

-1,027
91
-1,483
365

-610
25
-334
-301

108
99
-706
716

-525
-32
^43
-50

Asia and Pacific
Petroleum
Manufacturing
Other ..

7,116
1,199
2,033
3,885

6,560
944
1,727
3,889

596

2,710

2,114

1,090

2,142

n

n

781

1,058

4,873
218
2,027
2,628

(°)

1,052
(D)
799
(D)

556
255
305
-4

51
51
-17
16

883
195
184
503

Other
Petroleum
Manufacturing
Other ..

67
-948
561
453

40
-1,047
682
405

n

27
99
-120
48

-24
10
-25
—9

224
107
-9
127

-173

164

183

11

-30

All areas
Petroleum
Manufacturing
Other

Latin America and Other Western Hemisphere .
Petroleum
Manufacturing
Other ..

international

n
n

n

- $

nD
()
163
275
11

ID
)
()

(°))
(D

339
277
(D)
(D)

* Less than $500,000 (±)
Suppressed to avoid disclosure of data of individual companies.
1. An increase in U.S. parents' payables is a decrease in intercompany debt and, thus, a capital inflow.
2. Represents gains or losses that arise because of changes from the end of one accounting period to the next
D




<D)

n
110

n
n
176
3
(D)

n

n
-239

50
-702
336
416

n

n
c5)

-507
71

-748
43

73

n
n

nD
()

-240
-28

nD
()

-18

()
*

-924

673
(D)
2S7

-377
9
138
-524

-18
-86
-69

in exchange rates applied in translating affiliates' assets and liabilities from foreign currencies into dollars.
NOTE—In this table, unlike in the international transactions accounts, as revised in June 1993, reinvested earnings
are shown without a current-cost adjustment.

94

SURVEY OF CURRENT BUSINESS

• My 1993

Table 6.—U.S. Direct Investment Abroad: Earnings and Reinvestment Ratios
[Millions of dollars or ratio]
1991-92 change in earnings
Earnings
Total

16,174
2,074
6,757
7,343

.32
.22
.34
.33

2,420
524
1,201
696

33
-738
388
384

.01

18,069
2,212
8,327
7,531

7,994

4,769
839
3,300
631
3,350
1,495
988
866

2.383
147
1,704
532

2,386
692
1,596
99

4,716
815
2,134
1,768

-1,366
681
-1,145
-902

10,736
797
3,243
6,696

6,213
760
1,462
3,990

4,523
37
1,780
2,705

9,553
3,542
3,154
2,857

6,639
2,589
2,037
2,013

2,914

2,124
1,172
378
575

1,473
1,200
51
222

652
-28
327
353

410

Petroleum
Manufacturing
Other
Of which:
Germany
Petroleum
Manufacturing
Other
United Kingdom
Petroleum
Manufacturing
Other

35,167
7,497
13,078
14,592

26,063

Europe

Reinvested

2,454
-215
1,589
1,079

Canada
Petroleum
Manufacturing
Other

352

58

4,111
11,471
10,481

Latin America and Other Western Hemisphere
Petroleum
Manufacturing
Other
Asia and Pacific
Petroleum
Manufacturing
Other
Other
Petroleum
Manufacturing
Other

Reinvestment ratio'

Distributed

51,340
9,571
19,835
21,935

Petroleum
Manufacturing
Other

,

International

1,900
3,144
2,950

953
1,117
844

Total

Distributed

Reinvested

-427
-2,040
163
1,450

-1,873
1,502
-2,052
-1,322

1,446
-3,542
2,215
2,772

-282
-178

-462
-242
-477
257

Total

Reinvested

50,914
7,531
19,998
23,385

33,294
8,999
11,026
13,269

17,620
-1,467
8,972
10,115

.35

2,463
254
1,307
901

1,958
282
723
953

504
-28
584
-52

.20

.31
.46
.27

21,017
1,966
9,663
9,388

16,479
2,848
6,826
6,805

4,538
-882
2,837
2,583

.22

-5,046

-1,591

.29
.28

-2,145
-1,809
-1,093

-1,501
-726

.50
.83
.48
.16

3,137
464
1,777
897
3,432
648
1,480
1,305

3,354
826
1,754
775
4,108
265

-217
-362
23

383
-481
-577

.59

1,882

.42
.05
.55
.40

13,656

6,075
775
1,640
3,660

7,582
-88
3,189
4,481

.56
.55

.31
.27
.35
.30

11,337
3,333
3,773
4,232

6,465
3,115
1,746
1,604

4,873
218
2,027
2,628

.31

2,175

.61

1,196
426
553

2,125
1,898
90
137

.14

265

192

.24
.36

687
4,829
8,141

.45
.43

-1,632
-375

636

971

471
711
196
-436

-3,456
-2,781
-308
-367

-2,604
-1,054

-1,523
265
83
-848
491
439

679
49
242
-608
-550
-173
115

2,921
-110
1,586
1,445

-138
15
178
-330

3,059

.43
.07
.54
.62

1,784
-209
619

-174
526

1,958
-735

-291

1,375

-409

910
1,784

50
-702
336
416

.02

51
24
49
-22

653

.79
.75

698
40
-85

73

.28

-145

-160

122
-675

1,960

Table 7.—Selected Transactions with, and Position on a HistoricalCost Basis in, Netherlands Antillean Finance Affiliates
[Millions of dollars]
1989

Line

1
2
3
4
5

Reinvestment ratio'

Distributed

.01
.14

-1,573
23
691
-298

665
324
-125
1,409
1,775

-602
-674

15

NOTE.—In this table, distributed earnings are shown before deduction of withholding taxes. Unlike in the international transactions accounts, as revised in June 1993, earnings and reinvested earnings are shown without a currentcost adjustment.

1. Reinvested earnings divided by earnings.
2. Reinvestment ratio is not defined because reinvested earnings are negative.




Earnings

Direct investment position
Equity1
Intercompany debt, net
U.S. parents' receivables
U.S. parents' payables

6
7
8
9
10
11

Capital outflows ..
Equity capital . .
Reinvested earnings
Intercompany debt, net
Increases in U S parents' receivables
Increases in U S parents' payables2

12
13
14
15

Income (13 - 14 + 15)
Earnings
Withholding taxes on distributed earnings
Interest (net of withholding taxes)

1990

1991

1992

-8,493
9,069
-17,562
1,220
18,782

-4,731
8,432
-13,163
3,125
16,288

-5,919
8,494
-14,413

-2,097
8,484
-10,581

14,789

10,772

3,778
-1,134

3,773
-620

-1,002

4,033

-11
259

190

376

-3,864

4,399
1,905
-2,494

-1,250
-2,749
-1,499

(D)
259
(D)
(D)
(D)

-1,307

-975

-776

-471

837
7

111
15

706
4

554
1

-2,137

-1,737

-1,479

-1,023

284
4,628

764

-6

D

Suppressed to avoid disclosure of data of individual companies.
1. Includes capital stock, additional paid-in capital, retained earnings, and cumulative translation adjustments.

2. An increase in U.S. parents' payables is a decrease in intercompany debt and, thus, a capital inflow.
NOTE.—This table shows transactions with, and positions in, affiliates primarily established to borrow funds abroad
and relend them to their U.S. parents. In this table, unlike in the international transactions accounts, as revised
in June 1993, income and interest are shown net of withholding taxes, and income, earnings, reinvested earnings,
and capital outflows are shown without a current-cost adjustment.

SURVEY OF CURRENT BUSINESS

July 1993

•

95

Table 8.—U.S. Direct Investment Abroad: Income and Its Components
[Millions of dollars]

1991

1992

Withhold-

Interest (net of withholding taxes)

on distributed earnings

Net

U.S.
parents'
receipts

U.S.
parents'
payments

(3)

(4)

(5)

(6)

Total (=col.
2 less col.
3 plus col.
4)

Earnings

0)

(2)

51,152
10,012
19,932
21,208

51,340
9,571
19,835
21,935

1,382
169
760
453

1,193
609
857
-273

4,728
683
1,122
2,923

3,534
73
265
3,196

Canada ..
Petroleum
Manufacturing
Other .

2,920
-108
1,618
1,411

2,454
-215
1,589
1,079

184
49
101
33

650
155
130
365

708
157
176
376

Europe
Petroleum
Manufacturing
Other .

27,215
4,439
11,595
11,181

26,063
4,111
11,471
10,481

758
46
403
310

1,910
374
526
1,010

4,761
819
3,209
733
4,951
1,793
1,165
1,993

4,769
839
3,300
631
3,350
1,495
988
866

185
20
129
36
113
9
69
35

Latin America and Other Western Hemisphere
Petroleum
Manufacturing
Other ..

8,860
766
3,256
4,838

10,736
797
3,243
6,696

Asia and Pacific
Petroleum
Manufacturing
Other ..

9,550
3,525
3,091
2,934

Other
Petroleum
Manufacturing
Other ..

Interest (net of withholding taxes)

Germany
Petroleum
Manufacturing
Other
United Kingdom
Petroleum
Manufacturing
Other

.

. . .

Total (=col.
8 less col.
9 plus col.
10)

Earnings

(7)

(8)

50,708
7,941
20,251
22,517

50,914
7,531
19,998
23,385

1,328
174
653
502

1,122
583
906
-366

3,945
616
1,089
2,240

2,823
33
183
2,607

59
2
46
11

2,933
374
1,361
1,198

2,463
254
1,307
901

157
31
56
71

626
151
110
367

676
152
144
380

48
2
34
12

3,213
415
700
2,098

1,303
41
174
1,088

21,637
2,233
9,985
9,419

21,017
1,966
9,663
9,388

748
79
331
338

1,368
346
653
369

2,682
368
768
1,546

1,313
22
114
1,177

176
(*)
39
137
1,714
306
246
1,162

281
0
127
154
2,173
339
272
1,562

105
(*)
88
17
460
33
26
401

3,148
420
1,768
960
4,491
914
1,643
1,933

3,137
464
1,777
897
3,432
648
1,480
1,305

252
43
131
11
122
12
57
52

263
-1
122
141
1,180
279
221
680

351
0
173
178
1,447
298
248
901

88
1
51
37
267
19
27
221

222
48
121
53

-1,654
16
135
-1,805

400
34
150
215

2,053
17
15
2,021

12,302
696
4,743
6,863

13,656
687
4,829
8,141

217
21
158
38

-1,137
30
73
-1,240

244
31
83
130

1,382
1
11
1,370

9,553
3,542
3,154
2,857

202
20
127
56

199
3
64
132

296
11
93
192

96
8
29
59

11,351
3,321
3,742
4,288

11,337
3,333
3,773
4,232

182
28
100
54

196
17
69
110

260
22
92
146

65
5
24
36

2,186
1,220
372
594

All areas
Petroleum
Manufacturing
01 her

International

Withhold-

2,124
1,172
378
575

15
6
8
1

77
54
2
21

96
58
3
36

20
4
1
15

2,201
1,204
420
577

2,175
1,196
426
553

23
14
8
1

49
22
1
26

61
25
2
34

12
3
1
8

421

410

1

11

15

3

284

265

n

19

22

3

* Less than $500,000 (±).
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, income and interest are shown net of withholding taxes, and income and earnings are shown without a current-cost adjustment.




on distributed earnings

Net

U.S.
parents'
receipts

U.S.
parents'
payments

(9)

(10)

(11)

(12)

96

# July 1993

SURVEY OF CURRENT BUSINESS
Table 9.—U.S. Direct Investment Abroad: Royalties and License Fees and Charges for Other Services
[Millions of dollars]
1992

1991
Royalties and license fees

Charges for other services'

Royalties and license fees

U.S.
parents'
receipts

U.S.
parents'
receipts

U.S.
parents'
receipts

Net

All areas
Petroleum
Manufacturing
Other

U.S.
parents'
payments

Net

5,770
207
2.905
2,659

14,354
17
10,034
4,304

14,618
17
10,121
4,481

264
(*)
87
177

5,429
828
2,511
2,089

1,450
-10

2,032
115

582
125

1,050
3
807
240

1,352

D

1,025
3
800
222

25

1,252
664

135
0
42
94

212

17
9,600
3,869

(*)
55
156

Canada
Petroleum
Manufacturing .
Other

1,041
2
809
231

1,069
2
815
252

28
0
6
22

Europe
Petroleum
Manufacturing .,
Other

8,974
5
6,416
2,553

9,071
5
6,449
2,617

2,162
418
548
1,196

1,750
2
1,483
265

1,771
2
1,495
273

-328

1,679
2

1,713
2

912
235
-12
689

1,927
240
518
1,169

319

711
97
176
438

1,214
463

D

( )

n

407
1
306
100

62
151
105

,804

3,251
15
1,888
1,348

9,738
4
6,679
3,055

9,873
4
6,721
3,149

540

868
1
736
132

1,945
2
1,538
405

1,015
4
531
480

0
41
9

2,988
8
2,100

1,378
22

297
175
27
95

55
6
5
44

112

632
544
1

40
0
10
30

112

2
0
1
1

3,089
8
2,136
944

101
0
37
64

1
0

0

1,932
124
1,192
616

580
108

2,476

5,762

401
1,059
1,016

418
2,867
2,477

3,287
18
1,808
1,461

-72

413
130

44
14

621
(D)
358

8

623
-116

507

n
241
D

116

265
200

1,874
223
554
1,097

693

n
541
151
1,251
(D)
670
(D)

775
111
285
378

267

2,067
133
951
983

1,169
17

324
202
26
95

59
3

(D)
44

-70

property were $351 million, and receipts of film and television tape rentals were $409 million; U.S. parents' payments
were $5,401 million, $127 million, and less than $500 thousand, respectively.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, royalties and license fees and charges for other services are shown net of withholding taxes.

Table 10.—U.S. Direct Investment Abroad: Position on a HistoricalCost Basis and Balance of Payments Flows, 1989-92
[Millions of dollars]
1989

381,781

426,958

460,955

486,670

Capital outflows (inflows(-))
Equity capital
Reinvested earnings
Intercompany debt

37,604
6,395
12,697
18,512

27,705
8,739
18,954
12

32,098
17,281
16,174
-1,357

37,122
8,007
17,620
11,495

Income

53,929

57,746

51,152

50,708

Royalties and license fees, net receipts
U.S. parents' receipts
U.S. parents' payments

10,014
10,082
68

12,380
12,637
257

13,274
13,486

212

14,354
14,618
264

Charges for other services, net receipts
U.S. parents' receipts
U.S. parents' payments

4,333
9,117
4,783

4,460
10,416
5,956

4,752
10,522
5,770

5,429
10,958
5,529

Direct investment position

1,849

•J)

5,529
190
2,809
2,530

-183

58

1
412
128

1,958
138
868
953

International .
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. Consists of service charges, rentals for the use of tangible property, and film and television tape rentals. In
1992, U.S. parents' receipts of service charges were $10,198 million, receipts of rentals for the use of tangible

1,206
602

35
25
332

242
169
22
51

49

n
541

580
116

1,974
822

Other
Petroleum
Manufacturing .
Other

1,809

U.S.
parents'
payments

10,958
1,018
5,321
4,619

16

1,955
2
1,550
413

-1

Asia and Pacific .
Petroleum
Manufacturing ...
Other




5,412
433
2,436
2,543

(D)
314

1,222
490

406
1
305
99

Latin America and Other Western Hemisphere .
Petroleum
Manufacturing
Other

U.S.
parents'
receipts

Net

10,522
1,006
4,758
4,758

13,486

United Kingdom ..
Petroleum
Manufacturing .
Other

Net

Charges for other services *

U.S.
parents'
payments

4,752
799
1,854
2,099

13,274
17
9,544
3,713

Of which:
Germany
Petroleum
Manufacturing ....
Other

U.S.
parents'
payments

1. Consists of sewice charges, rentals for the use of tangible property, and film and television tape rentals.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, income, royalties
and license fees, and charges for other services are shown net of withholding taxes, and capital outflows, reinvested
earnings, and income are shown without a current-cost adjustment.

July 1993

SURVEY OF CURRENT BUSINESS

•

97

Table 11.1.—U.S. Direct Investment Position Abroad on a Historical-Cost Basis, 1989
[Millions of dollars]
Manufacturing

All industries

All c o u n t r i e s

...

.

Petroleum

Food
and
kindred
products

Total

Chemicals and
allied
products

Primary
and
fabricated
metals

Electric
and
electronic
equipment

Transportation
equipment

Other
manufacturing

21,421

32,807

Banking

Finance
(except
banking),
insurance,
and real
estate

Services

38,454

19,378

101,086

11,736

14,859

4,854

Machinery,
except
electrical

985

10,512

21,832

8,276

60,136

7,288

2,658

300

47

10 9
D

277
0
1,151

14
396
94
5

P)
P)

Wholesale
trade

381,781

48,325

147,944

11,890

33,563

8,175

26,787

13,303

Canada

63,948

10,455

30,154

2,054

5,527

2,301

2,735

1,829

Europe

189,467

17,698

71,578

5,594

17,458

3,540

16,517

4,541

P)
P)

324

16
227
205
1
386

31

4,368

2
145
33
3
342

66
263
-2
8

57
162
36
3
382

201
(*)

1,032

1,188

45
19

459
330

P)

625

3,017

346

934
0
138
232

3,032

795

P)

P)
P)

Austria
Belgium
Denmark
Finland
France

962
7,710

P)
P)
16,443

Germany, Federal Republic of
Greece
Ireland
Italy
Luxembourg
Netherlands

23,673

210

460

P)
P)

P)
P)
-8

4,665
11,221
1,560
19,160
3,447

2,844

6,500
1,297
21,144

Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

1,273

60
169
28
441

343
67,722

476
14

P)

8,696

342
53
10,173
13,783

83
3,053
7,025

787
5,258

88
236
4,063

824
865
191
20,056

828
-6
167
414
0
609
1
42
631
50

P)
P)

1,855

2,338

25
19
2,574
2,705

P)

1,023
1,788

P)

2,435

13
77
694
77
118
38
3,282

P)

397
-2

P)
0
605
2,649

P)

903

P)
(*)

173

785

P)
P)

P)

178

1,043

4,160

1

P)

P)

389
455

P)

471

P)

9,010

P)
o

0
29
273
—
1
67

o
P)

238
3
135
9

858

1,317

3,179

P)
5
46

14,918

P)

P)

1,788

1,483

33
701

44
51

1,213

1,611

575
375

1,366

21
7
344
250
187

53
32
684
100
237

P)

5,222

1
322
170
958
358
6,376

39
150
789

P)

1,684

3,271
9
1,361
1,321

P)
820
29

P)

509

252
-4

9,593

1,409

P)

41
7S
348
33
623

P)

78
17

11,110

11

50

0

3,371

2,209

29,912

P)

2,411

Other
industries

3
-3
347

P)
P)

P)

193
4
74

P)

4
93

P)
44

P)

1,066

P)

27

6

0

3

0

0

3

0

0

111

P)

P)

P)

14

62,145

3,883

21,438

2,366

4,449

1,466

2,860

1,556

3,448

5,294

2,807

6,125

24,581

876

2,435

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

21,806
2,215
14,025
1,412
1,660

2,210

13,966
1.120
11,251

1,561

2,503

3,739

2,187

262

1,270

P)

4
0
0
0

22

790
156
132
147
94
34
55
162
9

1,121

44

P)

938
21
857
7
14
7
1
31
0

1,871

304

963
36
991

2,391

319
945
16
135
23
8
83
33

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

17,846

94

P)

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

22,493
4,577

833
290
34
-96

Latin America and Other Western Hemisphere

301
813
932
448
213
111
251
8,264
8,913

141
18,297

P)

90
186
840
3
33

P)

76
659

427

233

3,936
1,541

2,454
1,368

-42
699

P)
P)

1,739

1,031

3,518

1,093

141
598
83
69
644
59
6,876

139
57
95
6,412

143
31
596

P)

8
2
64
285
7

P)

36
27

757
73
15
396
273

764
34
26

P)

618
26

P)

P)

P)

10,119
1,144

629
218
627

1,461

1,065

0
0
0

18
21

p)
0
p)
p)

1,577

21
3
10
518
506
6

P)

0
0

P)
P)

0
0
0
0
0
0
0
0
0
0

93

952
310
34
425
17
35

186
33
12
97
44

177
6
1
59
111

125
3
0
115
7

25

261

P)
0
0

12
11
1
0
0

0
0

0
0

4,539

5,075

2,141

3,524

509
21
176
37

254
10
841
8
2

262
4
2
0

P)
P)

1,394

P)

2,895

1,522

1,270

3,142

42
13
1
-3
464
121

241
471
21
115
957
563
198

229
0

258
91

P)

P)

234
63
229
91
488
248
157

1

P)
61

P)

0
1

P)

P)

277
25
242

0
0

P)
P)
5,666
1,885

10
23
1
4
508
128
6
3
215

71
375

1,577

11
0
0

P)

123

2,423
3,776

/D\

P)

P)

140
194
18

2,771
19,911
2,370
1,263
1,062
1,107
2,998
1,968
1,511

P)

305
1

P)
21
P)
P)

0

436

189
104

469
0
0
0
469
0
0

12
-2

2
0
103
0

0
0
0

1,772

1,555

P)

0

P)
P

130

P)
18

23,382
5,071

P)

P)

3,015

p)
0

10,968
2,327

5,412

P)
P)

40
4

1,674

66
5

P)
P)

1,510

P)

2,156

3
5
0

55,805
14,368

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other

63
11
2

P)

P)
P)

1,591

22
11

P)

0
0
0
0
0
0
0
0
0
0

269
631

827

115
212
19
30
208
1

255

636
320
306

1,655

1,614

40
0
3
1
2

391
644

Middle East
Israel
Saudi Arabia
United Arab Emirates
Other

1 IUHW1 ! % * •

P)

6,123

P)

Nigeria
South Africa
Other

International

P)

409
118

P)
P)
P)
P)
-10

383
-,-8,378

Africa

11 H v l

460
467

P)
P)

P)

27
122
111
56
2,318

225
46
75
210
24
425
93
48

0
0
0
0

P)

665
289
2

P)

2
3
213
21
2
5
19
19

P)

0
4
0
2
0
0
0

p)

0

40
5
1

P)
P)
P)
P)

O

2

fl
15
0
7

P)
P)
P)

0
14
3

P)
P)
0

P)

0

0
0
82

P)
P)

P)
0
P)

238
492
294
9

P)

-5
0

P)
P)
2

P)
P)
-3

368
3
3
-1
279
78
6

4,973
2,154

14,511
1,777

246
12

P)

P)

1
2

P)
8
P)

P)

0
9

0
3
3

17,794

P)
P)

-8,493

2,659

3,279

10

17
13

P)

146
136

P)
P)
P)
-9
P)
782
48
10

P)

461
139

P)
382

P)
0
P)
P)
P)

5
30
2

P)
()

2

P)

4

P)

P)

149
39

97
38
13
0
47

256
2
3
3
247

P)

( )

P)

1,053

P)

n

p)

P)
P)

P)
P)

1

P)

131
6
11

8,604
1,910

3,679
1,026

4,548
1,226

1,332

P)
60
P)
208

0

6

71
120
96

P)
P)

7,884

8

29

P)

31
0
3
2

P)

s

P)

565

P)

P)

0

P)

171

0
22
3

3
6

215
0

2

177
1,366

76
1,911

2

P)

e
S
P)

P)

287
801
20

P)

237
155
269
103
70

312

1
680
(*)
-4

17
2
4

28
120
19

562

P)

82
159
127

228
7
4
453
36
-1
30

1,879

P)

-146

170
67
12

92
32
28

P)

P)

4
0

P)

3,291
2,246

P)

241
3
200
256
2
17
73
38
25
36
23

P)
2,962

....,,•,,,,,,•

Addenda:
Eastern Europe
European Communities (12)
OPEC

452
(*)
567
143
1,774

0

0

0

0

160,988
6,217

14,063
3,158

69,226
1,156

5,358

17,158

3,474

15,673

4,313

8,840

14,410

14,023

6,029

48,554

6,535

2,558

119

540

64

31

48

105

249

327

254

789

143

391

<

1,616
1,316

621
50

P)
47
31

n

24

o

P)

1

n

0
0

P)

n

P)

P)
1,189

* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. OPEC is the Organization of Petroleum Exporting Countries. Through yearend 1992, its members were Algeria,




P)

P)
P)

o

0

o

0

o

8

P)

0

(*)

2

Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and
Venezuela.

SURVEY OF CURRENT BUSINESS

98 • July 1993

Table 11.2.—U.S. Direct Investment Position Abroad on a Historical-Cost Basis, 1990
[Millions of dollars]
Manufacturing

All countries

Europe
Austria
Belgium
Denmark
Finland
France
Germany'
Greece
Ireland
Italy
Luxembourg
Netherlands

37,348

10,474

30,680

15,518

20,834

37,809

43,101

20,706

109,351

13,126

2,479

5,958

2,871

2,996

1,839

6,954

9,993

5,278

1,074

11,652

2,148

5,354

21,269

84,355

7,741

4,896

19,513

5,775

8,487

18,065

25,496

9,158

60,438

275

2
203
43
(D)

(D)
197
-4
9

91
199
35
2

n

56

372

1,099

1,583

48
158

128

4,922

25
326

8,551
24

4,101

n

19,879
16
2,727

1,882

308

0

519
353

317
0

145

0

(D)
47

3,072

505

3,650

433

611

2,862

3,197

295

1,772

750

2 853
73
1,007
2,054
(D)
2,813

1,267
0

3 644
0

908

3 615
0

2 658

3,827

893

549
3,693

4
433

1,841
1,293

n

1,098

2 207
66
(D)
1,690
(D)
1,542

1,577

149
279

( )
299
-A
1,612

213,368
1,136
9,413
1,724
18,950

505
(D)
(D)
(D)

27 480

H

16
-8
(D)
27

375
86
11,481
16,012
104
3,577
9,076

228
1
348
1,068
-6

210
708
0
804

D

()
(D)

1,423

4,209

3,537

134
274

515

171
2
617
(D)

72,343

10,323

4,983
1,104
1,330
220
22,967

2,665

974

31

63

0

87
147
47
3,864
(D)

70,752

4,227

23,379

2,933

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

22,682
2,479
14,268
1,876
1,647

2,032

14,356
1,293
11,424
218

1,641
334
1,008
19
155

278
594
478

100
(D)
142
203

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

20,259

962

239
129
225

2
48

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

27,810
3,944

Latin America and Other Western Hemisphere

Africa
Egypt
Nigeria
South Africa
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other
International
Addenda:
Eastern Europe
European Communities (12)
OPEC 2

892

1,063

10,255
9,257
153

247
20,084
479
612
-4,534
487
5,919

573
3,592
1,226
-407

470
507
( )
461

842
6,530

570
78
58
655
62

4,007

1,315

933
404
899

(D)
(D)
299
932

63,585
14,997

12,138
2,779

356

116
212

25,485
5,527
138
1,756

n

215
122

3,175
22,511
2,677
1,513
3,099
1,355
3,183
2,214
1,789

2,725
3,987

356

120

2,548

1
16 608
3,452

1

n
Q
0
0
2,073

929
12

28
(D)
6
544
188
7
10
235

(D)
1,409

24
13,311

48
711

n

179,101
6,947

68
401
317

n

650
2
626

11,111
1,254

793
264
675
1,375
1,431
768*

57

n
56
39
(*)

(D)
0
116
(D)
68
(D)

27,917

2,907

(D)

n

32

28

4,821

1,681

3,058

1,551

3,655

5,681

2,707

5,977

30,161

919

3,382

2,664
324
1,757
126
197
15

957
(D)

2,529
( )
2,203

831

1,906
49
1,692
(D)

3,829
215
3,080
168
137

750

1,325

2,417

149
141
163
73

1,581
21
163

n
-5

279

28
66
145
-15

1,411
713
29
(D)
0
(D)

221
41
113

20

337
510
358
(D)
(D)
6
(D)
81

8
0
3
2
(D)
(D)

8,521
0
4
D
( )
651
7,877

2

n

n

4,644
1,997
(D)
0
8

19,223
1,317

274
-10
( )
33
( )

959
-141
26
13

209
(D)

23
222
(*)

n
38
3

1
0
0
0
D
()
0

(D)

n

15
-2
1
340

0

0

27
726
(D)
(D)
8
42
0

r)
4
0
89
0

529

694

1,749

0
0

12
0

0

0

0
0
0

529
0
0

681

1,749

0

0
0

(*)
0
0
0
0
0
0

26
0
4
0
(D)
0
0

0
()
0

1

2

0
0
0
0
0
0

n

n
20
n
23
19
(D)
1,637

n
n
n

200
25
16
115
44

161
(D)

157
3
0
141
14

46
5
(D)

421

25

n

n
(D)
0

13
11
1

333
328
5
0
0

4
4
0
0
0

n
3

4,944
518
( )
221

5,975

1,698

264
10

53

(D)
(D)

270
(D)
5
3
0

3,886
1,165

1,632

1,679

n
I*)

n

50
104

n

0

6,069
2,018
29
116
123

840
362
1

62

3
246
42
2
(u)
16
25

n
3

0
0

n
21

1,053

36
(D)

0
14

n

327
7
1,036

494
16

n
0

0
0

21
3
12
551

1
60
16
0
(D)
(D)

0
0
0

0

921

270
79

n
0

0
0

()

n
1

112
(")
(")
27
0

D

D

35

23

22
0
117
3

(D)
0
0

150
35
(D)

109
(D)

38
0

(°)

61

n

75

g

168

3

39
19,327
1

n

2,472

-4,731
11
3,226

n

n

113

46
(D)
0
(D)

n

0
(n)
22
15
425
3
3

n

290

107

5

n
2
34
1

9,242
1,588

4,178
1,092

5,744
1,240
1

1,321

n
27
n
1,485
286
105
81
76
(D)

297
91
190
107

10
(D)

0

576
103
61
391
922
29

2,383

299
52
7C
215
112
414
121

56

n
30
(*)

n

3,141
41
4

2
-5

160
623
38

644
-9

139
1,028
111

n
1

237
(*)

237
0
(D)
0
I:>

( )

1113)

0
0

119
(D)

o

3,535

n

n

956
(D)
(D)

558

n
0
(D)

n
n
n

n

(Di

145

o

106

53
9

136
32
87
13

n

2,071

1,243

1,126

4

29

n

196
4
0

205
0

-A

(°)
425
15
129

50
6
3
5
37

229
(D)
21
57
(D)

( )

1,506

230
3
3
6
218
306
(D)
(D)

837

n
-7

549
7
218
9

1,332

127

852
396
455
(*)

509
7,705

(D)

106
372

2,874

0
-3

n
57

84

141

1

()

46
194
1,006

3,849

1
3

n

353
225
1,086

i15)
(I5i
261

0

2
78
516
15
121
53
(D)

D

7,212

6,193

(°)
(D)
n
n
n
n
443

n
3

(D)
6
52

505

140

7

345
85

834
59
32
465
278

(D)
32
(D)
157
(D)
(D)

298

4
(D)

2,294

(D)

2,019
1,073

0
(D)
1,166

n

(D)

(D)

295
(D)
0

0
(D)

585

4

(O\
\ i

O

45
0
3

5

n

44
224

61

n
55

4,631

843
(D)
8

n

1
( )
(D)

1,425

6

19,870

0

H

n

6
D

33
942

79
355

()
£

Other
industries

1,607

98
6

1,232

n

5
640
562
4
652

172

Wholesale
trade

-4
163
(D)
1,713

10

86
-2

26

n
n

685
123

2,766

121
183
194
(D)

710
311

249
237
289

124
91

173
(D)

131
(D)

25
(D)

n
n
-1

344

n
n

n
3

104

C)
10

5,477
2,223
-12

324
3
239
377
(D)
17
2,100

11

53
45
34
0

50
35
45
32

n
1,215

0
81,142
1,345

* Less than $500,000 (±)
D
Suppressed to avoid disclosure of data of individual companies.
1. In the corresponding table for 1989, this line includes only the Federal Republic of Germany.




fl

177

1,861
76
13
2
1,667

1,282

368

18
6
62
39

17

80
823

1,247
33
29
(I:>)
1,101

767

5,994

2
92
855
(D)
(D)
23

516

8,179
160
60
112
7,703
143
2

2,006

1,772

Services

15,331

10,511

7,802
1.754
25,151

Banking

33,089

52,812

69,106

Total

5,725
14,076
1,683
18,720

Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

Other
manufacturing

167,993

426,958

293

Transportation
equipment

Finance
(except
banking),
insurance,
and real
estate

Chemicals and
allied
products

Petroleum

530

Electric
and
electronic
equipment

Food
and
kindred
products

All industries

Canada

Machinery,
except
electrical

Primary
and
fabricated
metals

(*)

0

7 297
108

19 553
711

4 782

ginning in

66

(*)
18,396
40

(D)

7

5,418
64

8,365
93

o

17,332
264

/D\

/D\

16,011
294

7,100

363

1
46,650
914

4

4

7,671
141

3 920
438

1990, it also includes the former German Democratic Republic (GDR). This change has no effect on the data because there were no affiliates of U.S. companies in the former GDR in 1989.
2. See footnote 1, table 11.1.

SURVEY OF CURRENT BUSINESS

July 1993 •

99

Table 11.3.—U.S. Direct Investment Position Abroad on a Historical-Cost Basis, 1991
[Millions of dollars]
Manufacturing

All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France

Norway
Portugal
Spain
Sweden
Switzerland
Turxey
United Kingdom
Other

4,349
1,026
7,992
2,242
25,604

363

529

Services

16,997

40,712

9,819

31,642

16,461

23,854

40,979

47,902

21,170

117,959

15,357

2,934

5,040

2,756

2,474

1,969

6,580

10,058

5,513

1,074

12,930

2,467

5,407

22,993

92,683

8,081

23,081

4,297

20,298

6,051

10,554

28,365

9,141

64,547

10,038

5,477

(D)
412
(D)

430

18

60
115
(D)
(D)

155
215
28

(D)
(D)

3,507

360

O

0
619

3,101

3,328

(D)
723
147
5
883

-1
47
5

3,793

47
125
(D)
(D)
288

69

12,819

3
204
42
5
448

381

5,486

31
378
254
1
992

20,320
( )

20,031

1,505

3,596

1,163

4,906

2,932

3,517

1,638

0
173
259

0
380

802
(D)
705
480

5,128

70

(D)

52
80

(D)
9
281
188
127

233,245
1,258
10,607
1,813

6,635
14,775
1,782
19,772

Banking

31,811

9,652

34,027

Other
manufacturing

180,463

55,893

68,853

Germany'
Greece
Ireland
Italy
Luxembourg
Netherlands

Transportation
equipment

Finance
(except
banking),
insurance,
and real
estate

Chemicals and
allied
products

460,955

359

Electric
and
electronic
equipment

Food
and
kindred
products

Petroleum

20,798

Machinery,
except
electrical

Primary
and
fabricated
metals

All industries

(°)
D
(D)
(D)
(D)
()
528

Total

398
66

134

D

()
10

221
579
0
573

1,242
2,470
(I5)
3,000

350

2
(D)
667
47
(D)
23

12
149
931
76
162
54

23,591

2,438

3,985

3,898
9,201

21

849

1,535

6,595

3,731

133
354

61
149
(D)
578
(D)

n

3,274

5,174
1,527
1,395

78,072
1,244

11,082

38

251

17

D

/D\
\ )

413

1
(D)
196
14
96
(D)

1,149

3,401
D

()
955

8

D

o

0
70
297
(D)
76

n

()
2
953
(D)
287
(D)

4,482

83
208
38
172
6
2,107
D

51
H

1,108
1,715
D

()

Wholesale
trade

1,592

503
202

2,152

1

1,051

2,247

(D)
7
86

62
34
900
154
(D)
44

228
260
928
503

2,583

6,848

1,319

()

0

7

()

8

7,963

47
199
1,103

n

1,435

2,222

329
0
1,839
4,409

2
2,013
1,659

701

721
51
(D)
309
(D)

7,175

1,576

101
12
172
75

12
141
378
62
876
(D)

13,305

14

125

(D)

4,257

2,853

30,242

Other
industries

22,211

(

3
n
0

(Dl
645
(D)
517

96
0
88
91
51

n

3,715

2,333

()

157

()

(D)

39

52

D

D

76,214

4,121

25,052

3,298

5,253

1,630

3,071

1,394

4,320

6,087

2,974

6,330

32,487

1,025

4,223

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

24,082
2,767
14,882
1,916
1,627

2,003

14,873
1,461
11,632

1,859

2,904

2,541

4,028

2,913
1,505

132
650
79
35
811
72

26
179
22
5
84
53

60
224
4
8
227

-187

30
14
(D)
42
3

1
0
0
0
(D)
0

n
19

361
646
342

239
49
108

1,572

319
2,064

963
148
179
176
106
36
91
181
47

1,519

412

722
33
599

2,030

1,079

790
(D)
820

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

23,309

9,204

1,393

2,062

178
75
97

37
34
62

80
15
2

8,778

1,317

1,865

94

n

128
-51

n
n

95
5

(D)
14
-3
1
339
(D)
4

530
0
0
0
530
0
0

646
12
0
0
632
0
2

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

28,822
3,768

1,138

975
(D)
8
3
105
635
6
97
65
(D)

46
0
3
1
3
(D)
4
6
0

286

(D)
0
0
0
-3

Latin America and Other Western Hemisphere

296
522
1,424

648
214
105
212
12,257
10,427

319
23,059

572
729
-5,697

507

409
580
(D)
352
122

n

179
209
980
2
10
-7
(D)
726

370
72
-93

Q

8

454

52
332

Africa
Egypt
Nigeria
South Africa
Other

4,442
1,239

2,712
1,046

611
857

506

Middle East
Israel
Saudi Arabia
United Arab Emirates
Other

4,823
1,014
2,163

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other
International
Addenda:
Eastern Europe
European Communities (12)
OPEC 2
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.




5,112

1,734

n
n
1,549

1,226

491
734

466

n
n
322

1,179

1,126

71,047
15,795

13,694
2,489

431

127
311
-1

6,516

410
3,783
24,938
2,862
1,711
2,916
1,377
5,294
2,626
2,038

915
53
56
513
294

3,280
4,600

65
448
334

n
975

350

6
774
(D)

2,331

n
(*)

n
(D)
3
(D)
(D)
62
(D)

n
n
0

_•]

27
0
3
0
(D)
0
0
0
(D)
0

0
0
0
0
0
0
0
0
0
0

(D)

44
(D)
5
16

48
(D)
1
(D)
15

(D)
36
I;>

27
(D)

17
16
1
0
0

417
411
6
0
0

5,593

542
15
230
44
(D)

1,014

6,440
1,993

1
(D)
1
6
675
204
8
6
301
(D)
65
41
1

56
113
128
74

2,841
1,730

16
(D)

190
3
0
167
19

2,553
1,186

912
490
825

1,805

0
0

168
3
1
42
121

194

11,362
1,171

2,291

(")
18
18
114
(D)

28,775
6,291

206
175

0
0
0

(D)
34
29
32

0
0
0

(*)

2,585

241
57
70
270
201
481
133
37

( )

0
0

940
445
-1

n
3
4
201
51
4
(D)
18
25
(D)
37
-1

D

2,291

(°)
0

n

218
3,226

()
(D)
(D)
0
164
0

9
1
D
()
0

1
(D)
11/
2
(D)
37
0

( )

22
1,741

167
(D)
(D)
(D)
213
16

(*)
0
0
0
0
0
0
(*)
0
0

n
0

0

1,745

(D)
2,103

O

1
1
82
11
0
(D)
(D)
24

1,066

-40
_o

11
704
391
2
945
142
113
611
8
35
6
0
(D)

n
5
9
()
94
D

9
0
1
3
(D)
(D)
2

302
981
12
(D)
0
89

n
9,655

0
(D)

e
S
8,998

(D)

4,803
2,028

19,919
1,200

(D)
0
(D)
(D)
(D)
(D)

59
22,232

n
n
0

n
(D)

(D)
28
18

358
(D)

426
4
3
(D)
315
67
(D)

1,968

360
-17
(D)
3

(D)
3

(D)

-5,919

16

n

2,590

2,305

(D)

69

n

9

()

70
(D)
(D)

1,647

(D)
27
682
(D)
0
303
(D)
(D)
(D)
(D)
(D)

o

( )

163
0
(D)
127
(D)

146
29
(D)
71
(D)

137
91
(D)
0
(D)

303
4
4
9
287

58
13
3
5
37

170
3
0
(D)
D
()

4
4
0
0
0

35
2
32
0

220

225
0
(D)

1,244

138
32
71
12
24

221
(D)
137
(D)
48

6,581

2,352

10,684
1,541

5,552
2,623

34
288
22
(D)

90

6
(D)

347
(D)
5
3
0

4,316
1,366

1,629

413
(D)

3,282

1,421

1,680

1,517

45
25
2
-5
930
130
(D)
1

156
702
30
158

183
0
(D)
0

292
117
306
83
(D)
49
(D)

n

1,477

n

( )

n
7
89
(D)

2,187

(D)
( )
4,623

425
114
95
117
817
387
202
31

fl
4,263

885

O

746
160
72
266
1,035

48
(D)
256
233
303
167
(D)

314

n
n
6,448
1,283

1
923

n
-4
3,190

152
172
202
(D)
214
92
28
(D)

684
(D)
318
11
9
476
28
-1
(D)
-181

175
52
44
0

1,171

795
39

36
232
126

937
248
1

n
0
0

n

n

286

fl

421
-15
19
1,813

70
38
56
29
-9
1,160

306

4

172

(D)

(*)

0

7

8

73

88,531
1,858

7,698

22,675
1,001

4,090

5,526

10,299

c3)

20

18,225
5,047

18,707

(D)

197,661
9,398

19,535

18,917

6,964

73

83

73

176

301

376

356

151

1. See footnote 1, table 11.2.
2. See footnote 1, table 11.1.

(D)

50,774
1,043

4

(D)

9,053

5,196

152

565

SURVEY OF CURRENT BUSINESS

100 • July 1993

Table 11.4.—U.S. Direct Investment Position Abroad on a Historical-Cost Basis, 1992
[Millions of dollars]
Manufacturing
Machinery,
except
electrical

Electric
and
electronic
equipment

Transportation
equipment

Other
manufacturing

Banking

Finance
(except
banking),
insurance,
and real
estate

Services

Other
industries

Food
and
kindred
products

Chemicals and
allied
products

Primary
and
fabricated
metals

187,276

18,411

43,821

10,109

29,174

17,001

25,579

43,182

51,140

23,468

129,546

15,789

24,245

33,306

3,212

5,389

2,827

2,436

1,696

7,426

10,320

5,567

888

12,938

2,330

5,457

93,733
622
5,940
315
91
13,975

8,374
14
440
137
1
1,246

24,869
19
3,356
(D)
14
4,347

4,487
2
234
50
7
510

17,735
53
(D)
)
(D)
3,197

6,460
211
196
21
2
499

10,910
(D)
(D)

29,685
422
1,811
503
141
3,750

9,488
42
(D)
(D)
(D)
337

67,225

10,327
(D)
502
116
6
1,075

5,642

720

20,897
(D)
1,129
85
(D)
3,456

2,111
( )
119
416
17
1,465

20,951
129
4,505
8,821
852
7,216

1,686

4,020
63
1,699
2,655
(D)
3,511

995
0
188
229

4,960
0
163
3,066
(D)
987

1,084
(D)
858
483
(D)
408

5,065
0
(D)
205
-3
78

3,142
28
1,258
1,809
(D)
1,148

3,328
65
117
2,063
1
3,043

2,001
(D)
9
160
201
133

4,666
(D)
1,947
1,589
779
4,931

790
(D)

(°)
363
3
1,600

1,545
0
(D)
193
9
726

3,251
(D)
149
38
333

(D)
129
499

11
2
607
861
171
(D)
3,443
(D)

2,003
(D)

0
-8
2,113
(D)
8
77
1,833
8

45
(D)
996
228
(D)
53
5,974
(D)

171
318
1,089
450
8,305
10
3,922
177

68
207
1,022
(D)
1,747
114
2,547
(D)

123
(D)
166
136
15,917

2,273
96

196
22
122
(D)
1,285
(D)

(D)
62
208
30
216

13,153
36

291
379
5,430
1,289
1,508
469
20,328
620

32,013
153

16
177
410
89
797
( )
3,826
53

-101
(D)
55
(D)
2,055
(D)

88,860

4,559

26,727

3,826

5,386

1,749

2,897

1,502

4,920

6,446

3,342

7,731

40,537

1,066

4,898

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

27,185
3,353
16,114
2,446
2,077
310
466
1,725
694

2,499
499
668

15,854
1,633
12,014
257
699
88
18
1,069
77

2,235
465
1,303
33
184
26
3
163
60

2,940
371
2,021
60
236

849
(D)
810
-127
30
16
(D)
45
3

2,461
2,011
1
0
0
0
(D)
0

849
46
721
9
24
(D)
(D)
38
0

2,387
22
1,922
(D)
(D)
(D)
0
288
0

4,131
254
3,227

2,014
430
1,022
353
(D)
5
(D)
D
()
108

3,548
538
1,839
1,030
10

7
(D)
16

1,014
159
197
191
107
38
59
175
87

266
60
94
(D)
10
0
9
30
(D)

1,990
35
281
408
(D)
(D)
306
(D)
202

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

25,478
221
107
184
13,330
11,457
180

1,035
2
18
(D)

9,823
253
80
92
9,281
107
11

1,560
94
42
(D)
1,340
18

2,128
83
13
2
1,949
76
6

n
18

(D)
0
0
0
(D)
0
0

625
13
0
0
610
0
2

2,533
0
0
0
2,533
0
0

2,147
45
28
(D)
2,043
13
(D)

1,129
-30
-4
14
111
369
3

47
0
2
5
(D)
(D)
2

10,860
0
6

493
5
3
(D)
325
139

2,091
-9
3
31
1,935
(D)
(D)

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

36,196
4,566
507
25,799
744
850
-1,939
575
5,024
70

1,024
407
89

1,050
(D)
7
19
134
748

317

0
0
0
0
0
0
0
0
0
0

1,199
128
111
672
7
42
7
0
63
3

5,670
2,723
0
(D)
( )
3
(D)
2,850
(D)

26,130
1,260
62
24,837
(D)
4
-2,097
18
2,027
(D)

307
6
(D)
8

816
(D)
0
(D)

(°)
14

(D)
1
55
0

n
1

0

28
0
3
0
(D)
0
0
0
(D)
0

168

-29
43

(D)
0
0
0
—
3
(D)
0
0
0
0

(D)
0
0
0
0
0
0

53
29

31
0
3
D
()
3
0
5
7
0
(D)

(D)
(D)
5
(D)

Africa
Egypt
Nigeria
South Africa
Other

3,518
922
274
871
1,451

1,523
735
159
(D)
(D)

960
74
63
501
322

139
(D)

171
5
2
45
119

123
4
0
92
26

46
4
2
(D)
(D)

56
(D)
5
19
(D)

103
-20
(D)
67

133
89
(D)
0
(D)

467
5
(D)
(D)
448

84
35
4
5
40

248
3
0
76
168

Middle East
Israel
Saudi Arabia
United Arab Emirates
Other

5,814
1,543
2,503
480
1,287

1,791

65

(°)
44

12

306
1,298

n

(D)
0
0

(D)
(*)
(*)

(D)
0
0

18
16
2
0
0

593
588
5
0
0

3
3
0
0
0

275
130
22
116
7

141
0
(D)
(D)
-153

1,418
327
(D)
(D)
(D)

242
49
73
17
103

205

n

1,742
960
781

78,163
16,697
469
8,544
479
4,278
26,213
2,779
1,714
3,008
1,565
6,631
2,870
2,459
458

14,893
2,691
91
385

30,808
6,631
260
2,243
201
138
11,920
1,140
747
417
1,021
3,460
1,806
783
40

2,794
1,279
19
(D)
1
(D)
666
240
9
-12
350

7,168
2,133
61
153
118
54
2,790
215
77
69
366
319
608
168
38

863
388
-3
(D)
5
5
225
33
6
10
24
29
{Dy

5,965
488
-3
242
50

6,704
374
18
1,381

2,263
418
(D)
(D)
4
0
1,573
53
0
(D)

12,169
1,424
94
2,914
23
46
5,424
276
106
82
126
892
469
254
39

5,086
1,011

6,960
1,523
1
1,291
D
()
13
2,707
165
233
195
(D)
369
158

1,739
686
(D)
349
15

6,508
2,731
(D)
430

2,496

1,207

All industries

Petroleum

486,670

55,207

68,432

7,945

239,389
1,365
10,771
1,707
322
23,257

23,289

Germanyl
Greece
Ireland
Italy
Luxembourg
Netherlands

35,393
429
7,229
13,605
1,863
19,114

Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

4,047
1,160
8,165
2,033
28,662
705
77,842
1,721

All countries
Canada
Europe
Austria
Beigium
Denmark
Finland
France

Latin America and Other Western Hemisphere

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other
International .

.. .

Addenda:
Eastern Europe
European Communities (12)
OPEC 2
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.




780
200,535
10,255

n

291
(D)

(i>)

n

596
154
179
187

(°)

694
131

n
n
(D)
iD)

n

3,686
4,768
67
513
397

n

1,213

774
172

3
19,225
5,146

Total

n
89

n
374
0
652

(°)
(D)
37

n

n
79

n
66
63
1

11
149
810
90
208
125
3,517

n

n
1
252
-1

(°)
0
(D)

n

132
(D)

n
0
(°)
19
17
148
(D)

n

433
2

n

-3
2
(D)
1
6

-1

n

n

3,540
38
-125
3
-5
1,400
89
(D)
1

D5

1,327
176
654
(D)
179
1,440
901
213
1

o
0

J
)
(D)
0
0

n

h
28

O

1
1
109
(D)
0
(D)

n
n
(D)
0
(D)
149
41
(D)
31
0

n
5,050
1,551
(D)
369
19
(D)
1,799
386
126
305
107
181
61
60

n

Wholesale
trade

/D\

n

O

932
233
200
1,122
91
(D)
340
365
327
230
167

2,072
351
1
2,363

O

(°)

0
111
(D)

n

798
10,059
(D)

n

n

584
25
1
(D)
D
()
276
59
47
0

n
n
13
(D)

n

126

O

128
(D)
(D)

O

294
609
-17
23
1,925
64
55
(D)

n
n
1,288

505
88,841
2,142

96
7,746
236

5
24,287
1,066

|D\

4,162
62

mi

16 568
' 64

1. See footnote 1, table 11.2.
2. See footnote 1, table 11.1.

5836
' 62

8
10511
302

m i

19 731
350

42
20,008
426

106
6,929
420

/[)\

50,895
1,209

12
9,395
245

tD\
\ )
5,242
666

July 1993 • 101

SURVEY OF CURRENT BUSINESS
Table 12.1 .—U.S. Direct Investment Abroad: Capital Outflows, 1989
[Millions of dollars; inflows (-)]
Manufacturing

All industries

Ail countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany Federal Republic of
Greece
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

Petroleum

Food
and
kindred
products

Total

Chemicals and
allied
products

Primary
and
fabricated
metals

17,201

169

4,341

1,489

1,200

2,917

4,261

70

308

194

56

23,679

-2,116

6,122

-1,610

2,775

33
669

64

891
1
_2

635
25
41
-2

1,584
2,522

-80
793

wD
( D)
()

3,112

-15
-39
2
115

-1,029

- 1 052

1,657

65

75
602
35
1
875

-645

335

101

(D)

975
47
-17
-21
—
1
126

217
14
436
799
25
827

110
-2
40
89
0
125

742

537

-729

373

-2
18
95

(*)

297
53

o

93
301

-51
255

263

17

232

180

-1

93

-51
(D)

11,825

-1,057

1,190

-1,537

6
1
86
26
13
18
467

(D)

-6

1

0

O

14
(D)
(D)
-1
152
0

979
-4
1,269

8
-32
-143

o

25
38

4
20
758
76
95
71

s

22,138

2,207

1,345

121

42

1
89
(D)
34
(D)
217
0

1,089

1

1,367

2,614

-617

15,288

3

1,988

401

-55
-28
10
6
356

-11

46
15
3

0
o

(D)

26

39
-8
-3
1
50
1

5,724

82

(D
o

i
19

428
-100

69
60
-8

5
340
(*)
126

0

4
5
103
-33
33
(D)
316
0

3
20
101
41
893
-7
478
-2

12
-6
_2
17

o

R

Wholesale
trade

(D)

(*)

i

1192

426

1,700

-7,113

•(D)

3,018

Other
manufacturing

-3,644

/D\

Other
industries

Transportation
equipment

1,268

-3
506
1

Services

Electric
and
electronic
equipment

37,604

2
28
43
(*)

Banking

Finance
(except
banking),
insurance,
and real
estate

Machinery,
except
electrical

332
(D)

o

15
1,526

o

(D)

-41

399

-67
-14
-1

1,543

1
303
551
30

11
-5

1,370

1
20
101
(D)

g
104
19

fl

(D)

-24
(*)
695

37
-4
-15

20
(D)
3
(D)
381
7

-6

(D)
16
8
460
0

-312

10,493

(D)

(D)

-9
16
14
13
13
(D)
652
(D)

-722

6,296

133

148

-152

944
-3
749
193
(D)
(D)
0
-1
2

57

-150

-145

9,094

-338

4,261

700

824

438

396

378

900

624

-134

2,809

59

-25
38
(D)
-81
-41

392
30
298
2
34
2
-1
19
8

497
20
475
4
24
-1
-20
-6
(*)

188
-12
37
(D)
3
1
(D)
5

336
(D)
261
(*)
0
0
0
D
( )
0

270
-3
283
1
1
1
-1
-12
0

650
1
690
D
()
(D)
1
0
-67
0

476
(D)
339
71
(D)
-3
(D)
(D)

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

1,299

304
9
3
D
( )
281
-1
(D)

292
_•(
2
1
289

60
0
0
0
60
0
0

(D)

250
0
0
0
250
0
0

134
3
-2
D
( )
(D)
(D)
(D)

4
0

36

0
0
0
0
0
0
0
0
0
0

14
(*)
(*)
3
0
-1
(D)
(D)

(D)
(D)
0
3
1

(D)
0
0
-49
(D)

-1
8
(D)
-14
(D)

-12

( )

(D)
-4
(D)
0

51
0
(»)

O

-80
(D)
-6
(D)
-64

3

11
-75
(D)
(D)
3

287

•742

-13
182

518
-96

72
195

n

O

(IJ)

-4
(D)
28
46
24
(D)
14
30
6
(D)

127
(*)
164
2
(D)
85
88
-1
11
13
113
95
57

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other
Africa
Egypt
Nigeria
South Africa
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other
International

II l l ^ l 1 HIUWI IVII

Addenda:
Eastern Europe
European Communities (12)
OPEC 1
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.1.




3,014

583
-152

-41
-102

32
10
31
14
11
1,652
-430

3
37
44
(*)
4

n
n
9
D

21

( )

4,392

-249

-61
-37

35
10

-502

-231

(D)
277

n

3,814
D

(°)
(D)

()
817

n
-151

-116

37

-554

-397

-7

5
(D)
(D)
-40

-473

-512

42
-214
-375

-33
56
-99

n

si

-399

-336

4,375
1,997

-185

100
465
(D)
-65
299
332
50
162
49
165
177
384

n
216
(I5\

23,297
-535

119
17
-202

o
-67
-166

17
-81
(D)
(D)
60
1
50
32

110
2,383

232
85
1
-21
10
8
1,186

11
1
5
1,159

1
8
266
(D)
-1

o

13
221
3
(D)
6
2
-115

29
8
-170

19
24
32
5

n
0

O
O

p

n
(b)
(*)
1

n
2

3
(D)
6
0

0
()
D

(D)
(D)

fl
10

(D)

n

(D)
0
0

2,649
1,157

646
<»
»

56
268
19
28
475
132
47
23
115
126
-45
246
3

(°)
(D)

5

n
n
-15
16
1
6
14
(D)
12
10
(*)

6
11
8
-18
5

n
(D)
(*)
—
2
(D)
39
-1

n
n
0
0
0
0
(D)
0
0
0
0
2
2

n
5

0
0
0
0
0
0
0
0
0
0
-102

1
0
-110

-5

7

2
5
9
(D)
(D)

P
n
n0

-10
-2
-7
0
0

425
219
17
3
12
18
9
32
13
—
5
43
-11
42
29
4

-37
—3
6
-1
(D)
-2
(*)
1
5
(*)

0

n
4
3
(D)
5

0

224
137
3
76
9
(D)

-124

7
2
3
(*)
41
-140

(D)
(*)

0

0
0

n
0
D

( )

n
0
-1
0
1
0
0
0
(D)
0
7
-1
(*)
( )

(D)

37
(D)
0
0

0
0
0

1,521

-417

67
6
153
4
-3

108
(D)
-2

1,118

-543

\ /

17
8
12
40
72
29
-2
-1

n
0
9
0
(D)
0

(°)
(D)
0
0

30
32
—
3
34
-3

O

-6
12
-37

n

-924

3
-1
2
67
-995

O

fl

s

o

211
19
-5
61
—
1
5
(D)
0
(D)

n

n

D
D

3,404

-684

_3
-133

259
8

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

Latin America and Other Western Hemisphere

(D)

-49
-146

38

fl
n

-3
(D)

35
0
(*)
1
(D)
D
( )

n
-605
-575

(D)
0
7
D
( )
(D)
(D)
88
(D)
_o

-21
0
11

-36
(D)
r)
-315

164
2
(D)
25
-151

60
16
2

781
0
1
-9

n

n
40
n
-1
0
(D)
9
2
56
1
1
4
34
16

-4

n

4,571

19
-12
(D)
(D)

466
(D)
-369

1
1
3,778

2
761
D
()
-18
1

o

-32
13

104
-1
1
335
-71
85
91
(D)
4
41
2

n

n
13
(u)

n
11
(*)
(D)
3
1

f\
3
18
4

n
35
-1

n

-46
6

n
3
-162

17
14
5
(D)

O

65
(D)
(D)
(D)
9
(D)
120
16
8

n

123
-21
(D)
178
(D)
0
(D)
r)
(D)

n
0
n
n
(D)
0
(D)

(°)
(D)
D
(15
)
-17
7
591
312
(D)
132
(*)
-29
-69
-4
-1
11
33
-3
11
8

n
137

79
0

0

0

0

-904
-656

5,798

-1,637

2,717

50

28

26

0
889
8

0
452
5

0
935
-14

0

0

9

0

(*)

1,114

1,328

1,735

-446

14,786

1,956

-65

62

-10

28

84

32

1
373
-62

NOTE—In this table, unlike in the international transactions accounts, as revised in June 1993, capital outflows
are shown without a current-cost adjustment.

102 • July 1993

SURVEY OF CURRENT BUSINESS
Table 12.2.—U.S. Direct Investment Abroad: Capital Outflows, 1990
[Millions of dollars; inflows (-)]
Manufacturing

All industries

Petroleum

Total

Food
and
kindred
products

Chemicals and
allied
products

Primary
and
fabricated
metals

Machinery,
except
electrical

Electric
and
electronic
equipment

Transportation
equipment

Other
manufacturing

Wholesale
trade

Banking

Finance
(except
banking),
insurance,
and real
estate

Services

1,443

Other
industries

27,705

3,955

14,890

5,937

2,283

1,835

1,219

1,151

-687

3,152

1,870

-1,488

3,132

Canada

3,471

-269

2,450

584

424

547

144

20

(D)

(D)

252

94

740

( )

(D)

Europe
Austria
Belgium
Denmark
Finland
France

8,544

3,335

7,772

4,679

1,064

958

1,614

1,214

-1,583

-4,105

1,202

708

n
33
3

-57
120
12
26
498

9
67
11
(*)
6

3
114

n

(I3)

n
2

(*)
-87
45

121

{)
*

-3
(D)
(D3
)

149

56
197
38
-8
-5

15

-71
-2

372
30
17
-3
-1
49

-1,703

50
691

786
(*)
42
5

681
22
106

90
(*)
27
209
0
110

-29

267
0
(*)
-4
(D)
66

61
(D)
-54
48
(D)
131

(D)
0
47
-25

(*)
13
64

(D)
1

(D)

14
-26
160

32
-19
229
168
4,393

(D)

(°)

-475

n
n
()
*
n
-194

0
(D)
120

All countries

3

C)

n

50
757
1,152
-142
-2,401

(")
13
161

-43

Germany'
Greece
Ireland
Italy
Luxembourg
Netherlands

-58

1,464

848

n
14
88

n

392

C3)

2

235
0
-159

736

n
56

21
(D)
27

-103

(l3)

5

(D)
1
232
88
(D)
88

89
22
(I3)

-55
(D)
-46
_o

-66

0
413

-168

170

C)
3
C)
2

n

541

fl
(I3)

n

-102

-156

-3,806

59
1
411

n

C3)

1
23
175

(D)
-6
(D)
-27
(D)

22
-20
103
560

16

189
19

(*)

-239

-3,072

?

86

11
16

-54

C3)
(D)
1
(

()

188

C3)
(*)

n

4

143

0

2
-8
-24
5
5
4
315
(D)

(*)

-27
-8
20
(D)
133
(D)

6

413
0

393

2,492

433

428

289

-58

-50

571

880

85

93

5,540

32

875

1,712

-63
-16
34

906
251
457
74
82
-5
-4
49
2

46
18
9
4
33
-3
-1
-20
6

210
23
202
12
-8
-4
-15
(*)
-1

17

-107

-118

538

-120

157
60
-4
79
(D)
(D)
3

430
-22
244
179

240

-249

49
40
44
20
-20
-5
12
-16
-25

-6

-17

321
6
260
D
( )

-22

20
133

380
2

184
16

5

2
(*)

o
o

-22
0
(*)

674
0
1

12
-14

n

7
-10

471

(1

0

p)
n
n

n

n

-42
202
(D)
0
12
(D)

4,437
-272

24
-22
(D)

184

(D)
1,138

(l3)

03)

391
248
5,284

142
-629

Latin America and Other Western Hemisphere
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

327
112
500
47
-34
-89
152
36

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

2,455

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

5,342

31
10
-34
1,868

581
-1
-65
106
1,335

C3)

271

n

2,261

3

C)
-4
-30

n
55
19
44
(*)

n
n
20
n

563
25
366
9
164

Middle East
Israel ..
Saudi Arabia
United Arab Emirates
Other ..
Asia and Pacific
Australia
China ..
Hong Kong
India ...
Indonesia
Japan .
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other ..

6,223

International

-102

678
32
265
3

C)

659
844
312
222
1,962

177
481
209
315

n

...

.

* Less than $500,000 (+).
° Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.2.

2,666
1,079

7
17
1,274

-1
-29

1
19
274
6
(n)
14

( )

(D)
(D)

-580
-278

^29
70
152

28

l3

-504
-297

n

1,295

291

144

-373

18

412
55
52

n
n
n
210

3,852

Africa
Egypt ..
Nigeria
South Africa
Other




1,139
-112

n
n

-71
0
0

3,903

9,510

Norway
Portugal
Spam
Sweden
Switzerland
Turkey
United Kingdom
Other

Addenda:
Eastern Europe
European Communities (12)
OPEC 2

C)

n
n
n
n
-2

1,053

(°)

D

C3)

n

137
323

C3)

n

29
207
992
398
-20
17
(D)
538
-101

-3
24
(D)

n

142
2
53
-23

n
n

n
98
-12
15
79
16
136
-5
148
/D\

1,943

562
12
27
29
21
353
111
153
-59
88
341
104
201
2

n
-a

n

375
-1
(D)

168

7
0
(*)
(*)

34
(D)
0

P
n

n
1

n
n

fl
45

n
n
5

3
C)
-22

n
C)

3
251
0

3

C)

/D\
D

( )

1 )
1

r)
8

n
3

49
0

( )
1

249
0

0
0

0
0

0
0

49
0
0

n
0
n
n
0

249
0
0

fl
44

n
n
n
0
0
0
0

n
0
-11

7

n
n
-4

230
(D)
1
5
3

C)
1
19
64
-3
-87
14

3
C)

7
10

0

-8
1

(*)
0
0
0
0
0
0
(*)
0
0

48
(*)
0
42
6

1

h
2
0
16
0

0

2
0

D

0
0
0
0
0
0
0
0
0
0

(*)
0
(D)
0
0
0

n
0
4

P

(

D}

0

n

1
1
(*)
0
0

223
195
-2

125
-1

n
1

-29
16

816
-1
(*)
124

n
n
0

()

0

210
47
4
-6
14
7
-66
79
7
-6
40
91
-31
27
3

1
-29
7

fl
-3
4

03)
5
(*)

n

n
12
(•)
-10

n

-2
140
-113

3

C)

o

n
n
0
0

f3

( )

n

271
-77
144
4
24
67
218
37
(*)

O

373
29

-3
(D)
(D)
-3
D

( )
6

fi
((DDD))
()
0

o

<R

3
0
(D)
(D)
(D)

n
0
0
19

n

-11

3
C)
(D)

(D
/

-1,317

-7
(*)

9

148
(D)
(D)
0
0

3
C)
(D)

1
12

C3)

8
2

0
0
0

1
15
-1

-1

(l3)

(*)
0
0
0
D
()
0

0

0

1 )
1

( )

0
0
0

282
53
(D)
1
1
0
184
10
0
(D)
0
(l3)

n
0
0

3

C)

-1
2

(I3)
-1,229

n

(I3)

(D)

3

C)

n
n
0
n
n

36
-42
46
25
-1
-2
(D)
0
(D)

n

3,773

-269

-132

n

n

(D)

-12
-3
(D)
-12

-3
7
(D)
0
(")

32
(D)
5

-13
0

IO\

3
C)

0
(D)

8

(D)

57
(D)
(D)
(D)
-1
(D)
-39
28
14
(D)
16
(D)
13
(D)

299

-75
46

o

-18
-23
1,442

-237

30
48
2

n

169
88
24
-60
22
139
57
14
(D)

n

-74
(D)
(D)
-186

125
-3

n

-23
-35
17
21
(I3)

24
11
2
-61

n

553
(D)

C3)
(*)
0

(l3)

5
2

14
1

p
n
19

(l3)

156
11

n
(D)
24
(D)
450
3

fl fl
(D)
-4

(I3)

(l3)

0
(D)

(*)
-1

n
n
n
n)
c3

-25
1
(*)
3
-29

n
-11

n
-1

71
-8
(D)
(D)

n
3

n

14
-6
(D)

-26
(D)

912
32

115
-13

2,037
-109

n

(°)
11

104

fl
2

_i

131
(D)
-2
612
11
24
95
(D)
-66
23
12
(D)

n
-4

1
1

2
(l3)

47

n
()

116
-48
2
6
(D)

(i

0
(n)
('"*)

0

C3)

(1

71
-50
(l3)

D

2,028

-33
8
4
9
(I3)

139

-241

1
3164

3 049

0
521

1 058

0
725

569

228

-11

156

-3

9

177
7

6
-1637

0
1 500

18

52

460
-21

-S
79

0

1
- 5 503

1
1 250

640

106

45

73

2. See footnote 1, table 11.1.
NOTE—In this table, unlike in the international transactions accounts, as revised in June 1993, capital outflows
are shown without a current-cost adjustment.

SURVEY OF CURRENT BUSINESS

July 1993 •

103

Table 12.3.—U.S. Direct Investment Abroad: Capital Outflows, 1991
[Millions of dollars; inflows (-)]
Manufacturing

All industries

All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany'
Greece
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other
Latin America and Other Western Hemisphere
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

Petroleum

32,098

1,387

1,164

-360

18,928

391
(D)
-92

120
1,353

187
-87
2,092
6,133

31
975
1,540

-23

134

106
192
-16
125
897
102

28
(D)
-35
(D)
-39
(D)

Addenda:
Eastern Europe
European Communities (12)
OPEC 2
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.2.




1,112

263

2,307

3,677

5,124

-1,143

8,212

2,038

-9

-239

127

-481

207

128

19

1,554

283

87

9,444

1,052

3,079

-673

1,135

1,843

2,383

3,279

-849

3,824

1,374

1,464

125
571
33
-13

5
89
34

(D)
-18
(D)

(D)
(D)
0
0
71

(D)
(D)
(D)

5
188
70
-87
177

2
-23

639

1
15
2
(D)

1,543

3
558
(D)
(D)
673

-37
324
18
0
-20

(D)
391
1
(*)
268

(D)
-6
2
(D)
(D)

3,878

514
(D)
33
89
0
60

13
506
674
-23
563

O

397
9
389
484

n

281

(D)

337

229

2,001

112

1,915

208
-7
55
18
31
5
7
35
64

181
9
130
-5
(D)
(D)
3

22
7
1
D
()
4
0
(D)
6
3

1,062

n
13

339
136
123
102
-17
(D)
0
(D)
(D)

262
5
1
(*)
258
-3
(*)

D

611
0
0
0
611
0
0

D

()
6
4
D
()
193
(D)
(D)

209
-69
-3
1
202
79
-2

-6
0

536
0

7
1

(D)
0
(*)

4,390
1,071

1,166
-254

1,405

54
420
73
608
244
194
185

10
100

381
270
-10
(D)
(D)
1
50
23
1
-4
50
(D)
8
2
(*)

554
203
30
-3
9
16
160
-59
4
(*)
41
92
71
12
-25

181

1,465

340
-42
313
—
9
(D)
D
(
(D)
(D)
-5

n
n
n
0

17,378
2,998

-628

(D)
0
-14

566

(D)
(D)
(D)
0
0

-19

16
(D)
55
46
344
(D)

fl
D
((D))

257

970

379
99
281
.0
(*)

n

(*)
17
27
(D)
41
86

(D)
55

(D)

360
-29
261
(D)
(D)
(D)
0
82
0

257
(D)
(D)
8
237

429
242
12

-120

n
(D)
-4

-83

660
94
204
50
312

1,127

-5
44
-67
-11
217
(D)
469
24

-90
-33

-327

-41
8
-51
D
()

-909

-27

1

(D)
1
(D)
73
(D)
(D)
813
(D)

0
(D)
120

-232

567
(D)
312
782
87

-183

105
-4
18
64
28

77
36
(D)
288
4
150

(D)
36
-22
-28
7
(D)
412
(D)

n
-5

-174

-66
-27
(D)
(D)
(D)

-243

(D)
1

-49
(D)
-10

-36

-16
(D)
408
(D)
698

83

104
-10
916
107

o

(D)
-88

1,151

-51
(D)
-35
^3
5
2
(D)

- in
n

n

1
(D)
20
3
10
(D)

-151
-198

215
(D)
144
359
(D)
388

202
2
240
-59
39
-13
-14
9
-1

-609
-110

571
167

0
-9
-2
(D)
18

444

-5

-937

1,628

n
78

192
71
45
8
27
4
-2
25
14

32
130
1
-48
12
(D)

103
130

115

0

n
n

-22

456

135
(D)

3,039

1,214

0
22
-9
(D)
-87

M

372

828
192
426
-78
117
-2
-19
183
8

3
h

-192

-72
24
-13
(D)
(D)
(D)
(D)
(D)

74

-206

H

2,253

(D)

1,290

581
-34

-27

17

(*)

n

-320

41
(*)
-30
(D)
(D)
47
(D)

2,305

-161

626
47
21
-8
-1
-24

3,440

-2
68
125
-6
18
10
60
(D)

24

1,391
-294

International

-454

-380

55
26
51
(D)

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other

3,987

6,870

-40
-18
-8

Other
industries

228

2,695

178

Services

2,149

9

1,238

Banking

-546

287

37
(D)
49
-1

Other
manufacturing

Finance
(except
banking),
insurance,
and real
estate

13,040

-522

-103

Transportation
equipment

Wholesale
trade

Chemicals and
allied
products

3,359

388
845
41
22
28
-46

Electric
and
electronic
equipment

Food
and
kindred
products

Total

-10
119
39
84
211
151
799
181

2,785

Middle East
Israel
Saudi Arabia
United Arab Emirates
Other

h
D
(D
)
()
(D)
D
-7
()

1,555

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

Africa
Egypt
Nigeria
South Africa
Other

(°)

Machinery,
except
electrical

Primary
and
fabricated
metals

19
9
7

1,304

-6
-30

O

n

783
59
39
21
59
-893

-52
86
242
117
638
315
15
-24

259
7
5

n

281
(D)

n
6
0
(*)

-21
(D)
0

fl
(D)

6
(D)

-373

0

(*)
()
1
(*)
(*)
13

n
n
(D)

1
0
D
()

n
10
0

0
0
0
0
(D)
0
0
0
0

(D)

n
-9

3
()

O

fl
(D)
10

-3
14
(D)

(D)

D

n

-15
17

2
(D)
(D)
0
0
141
121
-2
(D)
1
1
-33
10
2
(D)
2

fl
7
-1

n
n
67
232
7

n

-347

(*)
0
0
0
(D)
0

n1
0

n
0

n1
31
-153

-9
0
0
0
-9
0
0

-43
1
0
0
-44
0

(*)
0
0
0
0
0
0
(*)
0
0

1
0
(*)
0
(D)
0
0
0
(D)
0

0
0
0
0
0
0
0
0
0
0

40
(*)
0
34
6

2

8

n
n

n
5

4
4

n
0
0
354
-10

n
9
17

n

O

26
2
0

n
(D)
1

0
1
(D)
(D)

n

n

()

10
8

-26
5
(D)
0
(D)

74
1
3
70

n
o

o
0
n
D
()

116
6

6
2
-15
-1
20

76
(D)
33
(D)
38

643
225
(*)
56
(D)
4
215
31
-13
19

256
108
(D)
101
3
(D)
94
(D)

-108

n
67

-178

-498

-34
80
(D)
1
(*)
0
-69
-59
0
(D)
0
(D)
(D)
0
0

507
115
5

1,355

-326
-262

-9
45
-8
18
299
121
-30
1

n
n

146
(D)
0
(D)
(D)
(D)

-4
20

-189

24
22
(*)
(*)
234
95
(D)
(*)

82
-7
(D)
-30
(D)
2

1,126

15
(D)
4
38
(D)

58
18
12
238
6
(D)
25

26
-19
(D)

n
n

(D)
0
(D)
D
()
(D)
(D)
228

(D)
-1
-6
0
(D)

3D
()

51
481
(D)

708
8
(D)
D
()
681
(D)
(D)

36
116
-3
8
-9
0
(D)
D
()

-1
-1
0
0
0

n
(D)

25
59
-12
(D)
(D)
-19
(D)
(D)

54

89
88
1
0
0

-958

(D)

-10
(D)
863
24

-178

1
(D)

n

(°)

-80

-5

-101

n

913
7

-128

(D)
0
(D)
19
(D)

3
(D)
19

(D)
32
-21
12
133

n

8
(D)

31
-7
180
(D)

n

874
115
23
-93
13
93
68
33
(D)

0
(D)
1

n
1
16
53
-6
-178

105
10

n

-12
-70
-2
26
(D)

2,962

n
(D)

-1,002

3
-853
D

H

n
n

n

21
-2

n

n
-1
22
-1
8
7
1

n

112
7
10
0

n
n
n
n
-1

440
(D)
-73

n
n

-34
(D)
2
-425

13
-2
17
11
(D)
7

-26
(D)

3
458

8 716

1,498

539

(D)
957
46

0

7

2 982

-769

1,023

292

6

44

(*)

(D)
555
1

1 694

2,274

(D)

3,139

90

60

95

1

(D)

(D)
-1,021
-235

(D)

1

(D)

3,469

1,264

1,354

108

12

982

2. See footnote 1, table 11.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, capital outflows
are shown without a current-cost adjustment.

104

SURVEY OF CURRENT BUSINESS
Table 12.4.—U.S. Direct Investment Abroad: Capital Outflows, 1992
[Millions of dollars; inflows (-)]
Manufacturing
All industries

All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany >
Greece
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spam
Sweden
Switzerland
Turkey
United Kinqdom
Other

Petroleum

37,122

-156

3,257

-663

13,409
84
614
133
73
2,836

306

1,571
77
745
922
99
-2,355

n

-102
(D)

n
n
(D)
(D
)
()
-19
-3
-58

-147
165
1,359
120
2,997
165
3,545
406

1,914
-6

-491

n

-10
(D)
-251

n

Machinery,
except
electrical

Electric
and
electronic
equipment

Transportation
equipment

Other
manufacturing

Banking

Finance
(except
banking),
insurance,
and real
estate

Services

Food
and
kindred
products

Chemicals and
allied
products

Primary
and
fabricated
metals

15,784

2,358

5,077

750

-1,024

1,184

3,564

3,874

5,336

1,222

10,391

1,291

2,244

276

494

136

-67

-42

802

644

449

-57

959

-53

378

7,972
178
543
120
56
1,397

1,306
2
17
94

3,207
1
250
(D)
7
515

313
-1
23
6
1
46

-862
-5
(D)
(D)

651
44
-12
-11
-7
68

1,840
(D)
(D)
0
0
85

1,517

-128
-6
(D)
(D)
(D)
-15

70
-66
103
30
1
566

1,001

1,123

(D)
31
(D)
495

3,065
46
230
28
6
692

1,327
11
724
778
55
728

278

541
4
452
475

11
0
22
14

79
0
-184
232

123

309
0
(D)
-33
(

-14
(D)
227
215

129
21
53
121

-141
(D)
-65
-11
55
-4,019

84
(D)
(D)
98

TS

147
(D)
-11
-14
1
2
21
29
121
(D)
79
7
-504
(D)

22

67
91
(D)
21
-151
(D)

7
65
234
-32
636
-2
33
19

54
2,240
(D)
1,332
(D)

3
45
28
29
72
(D)
506
15

Total

199
18
1,028
24
215
112
154
307

O

316

n
n
-126
0
85
(D)
D

()
-60

5
C)
D

()

10
328
84

22
4
12
18
-9
39
28
243
(D)

(*)

n
17
9
26

n
33
(D)

n

-127

SI
(D)
(*)

-245
(D)
25
(D)
-544
(D)

(°)

158
1
-70

's

( )
-16
16
-6
40
(D)
323
(D)

0
(D)
1,216
/D)
v
1
18
-78

O

s
fl

Wholesale
trade

n
26

49

13,673

346

3,158

468

631

240

-290

229

1,038

840

398

975

8,498

4,061
586
2,484
196
182
33
_7
437
151

397
72
52
(D)
150
34
(D)
-8
36

2,317
180
1,570
99
93
7
-12
373
6

419
63
200
7
17
4
-1
123
7

479
53
368
1
22
-3
-7
45
-1

132

-207
(D)
-221
(*)
0
0
0

243
13
223
(D)
5

708

544
32
427
(D)

431
39
359
-1
(D)
1
(D)
D
()
15

779
262
436
35
-4
(D)
0
35
(D)

17
10
-12
(D)
1
0

(*)

115
12
42
28
8
2
-29
10
43

Centra! America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

1,824
38
4
-36
1,261
541
16

53

52
20
9
(n)
12

121
3
-2

51
13

28
0

0

822
0
(D)

15
1

_•]

(D)
(D)
-29
(D)

741
38
10
4
711
-19
-3

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

7,788
514
177
3,217
200
124
3,967
66
-100
-379

-104
37
6
(D)
( )
(D)

100
(D)
(*)
20
34
125

-3
0

n
n

-8
-^86

-1,045
-327
-412
118
-424

-1,320
-330
-417
(D)

Middle East
Israel
Saudi Arabia
United Arab Emirates
Other

1,085
497
353
74
161

274

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other

6,560
1,335
44
1,856
52
656
867
-140
55
138
-17
1,097
154
367
96

944
196
-26
68
(D)
381
49
3
7
67
D
()
216
(D)
-36

183

-41

397
9710
1,165

-3
1 049
54

Africa
Egypt
Nigeria
South Africa
Other

International
Addenda:
Eastern Europe
European Communities (12)
OPEC 2
* Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.2.
D




n
5

3
-303

n
n

H

47
141

n

n
159
16
16
96
31

(°)
(D)

1
()
1
1
0
D

n
D
(D)
()
n
11

523
453
69
0
(*)

(D)

1,727
586
67
453
10
-32
296
-183
-58
-55
109
518
22
-7
3

238
82
18
(D)

n
0
0

fl

-12
48
1
-5
47
(D)

n
22
n

n
82

O

n
0

8
n

0

491
(D)
(D)
r)
0
148
0

(D)
4
(*)
1
(l5)
D
()
2

(D)
0
0
0
(D)
0
0

-14
1
0
0
-15
0
(*)

330
0
0
0
330
0
0

(D)
0
0
0
0

1
0

n
0

( )
0
0
0
0
0
0

0
0
0

0

0
0
0
0
0
0
0
0
0
0

()
2
_i
43
(D)

7
2
(*)
8
-4

18
1
0
10
7

(D)
10
(D)
0
0

7
()
(D)
0
0

1
1
(*)
0
0

174
175
-1
0
0

o
(*)
0

620
277
8
39
1
-18
-27
-20
19
(*)
83
119
100
37
3

48
12
-1
(D)
6
1
40
-2
3
(D)
6
2
(D)
(D\

176
20
-17
-2
7

173
-14

-130
89
(D)
(D)
1
0
-39
-257
0
(D)
0

0

139
-19
(*)
31
(D)
0

C3)

i15)
15
n
n
n
0
D

29
3
2

n
9

D

(i

n

107
-5
-151
(*)
(*)
363
-43
(D)
(*)

0

0
(D)
0
0
0

n0
-2

n

8
n

319
-1
(D)
-62
20
59
(D)
-46
-22
-57
-33
(*)

14
(D)
0
5
(D)

0
0

/D\
/D\

0
0

n
n
D
(0)
n

9
4
D
()
255

fl
(D)
0
(*)

0

32
(D)
0
(

D}

(°)
(°)
0
(D)
27
(D)

(D)
(D)
-1
0

O
603
120
(D)
77
-5
(D)
290
32
10
2
19
(D)
10

p\

n

3,253

(°)

-116
-21
1
159

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

Latin America and Other Western Hemisphere

Other
industries

14 j

n
4
n

fl

8

n
D
(D)
()

0
(D)
-30

n
165
92

0

-67
(D)
6

n

108
(D)
284
5
11
35
4

n
n
-6
(D)
(D)
113
-14
(D)
(D)
248
(D)
(D)

2
63
-28
1

1
(D)
D
()

n

n

232
-15
164
50
-1
3
1
0
D
( )
(D)

515
410
(D)
0
(D)
D
()
(D)
( )
192
(D)

6,898
55
3
3,046
(D)
1
4,033
1
-240

n

0

166
(D)
0
(D)
(D)
(D)
(D)
( )
(D)
(D)

-27
-37
(D)
3
(D)

-23
-2
(D)
0
(D)

57
1
(D)
r)
62

27
22
1
(*)
4

82
2
0
(D)
(D)

25
(D)
6
27
(D)

1
0
(D)
(D)
(D)

175
13

106
18
5
5
78

-19
(D)
-9
(D)
(D)

1,426
-69

455
185
_•)
89
36
(D)
-89
113
28
(D)
-11
14
-3
51
(D)

633
197

195
115
(D)
44
4

1,180
126
(D)
138
0
(D)
177
-2
3
129
-7
16
(D)
(D)

78
(D)
(D)
661
-84
-10
-13
13
64
77
35
8

n

163
654

(°)
D
(D)
()
O

328
(D)
16
-295
16
81
1
(D)
175
59
(D)
(D)

23
-8
(D)

-18
23
(D)
5

n
n
-3

n
68
-3
4
(D)
( )
95
10
8
0

n
224

270
6 882
434

1 033
139

26
3 076
88

/D\

192
17

-617
-18

578
3

(*)
1 684
150

(°)

1 136
56

24
2,385
51

9
-269
30

ID\

-2,119
188

8
903
100

/Dl

88C
307

2. See footnote 1, table 11.1.
NOTE—In this table, unlike in the international transactions accounts, as revised in June 1993, capital outflows
are shown without a current-cost adjustment.

SURVEY OF CURRENT BUSINESS

July 1993 •

105

Table 13.1.—U.S. Direct Investment Abroad: Equity Capital Outflows, 1989
[Millions of dollars; inflows (-)]
Manufacturing

All industries

Petroleum

Food
and
kindred
products

Total

Machinery,
except
electrical

Electric
and
electronic
equipment

Transportation
equipment

Other
manufacturing

-29

1,571

-604

3,146

29

-127

379

412

n
(D)
0

-8
(*)
0
0
0
-10

306

0

D

264
0
(D)
-83

6,395

-6,592

3,581

-1,283

472

309

Canada

-969

-3,821

2,809

-12

-32

173

Europe
Austria
Belgium
Denmark
Finland
France

3,494

-2,722

-491

-2,017

31
167
70
14
169

(*)

n

-1
8
(D)
0
(D)

384
(*)
100
0
(D)
73

54
0
(D)

All countries

Germany, Federal Republic of
Greece
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other
Latin America and Other Western Hemisphere
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other
Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands. Caribbean
Other
Africa
Egypt
Nigeria
South Afnca
Other

n
9
0

n

246
201
470

-9
556

0
72
0
(D)

D

D

4
13
133
-32
-25
43

(D)
209
1,119

()
(D)
220
-157

()
0
3
(D)
-5
1

193

n

2
-8

105
0
(*)

n

-11
0
3

n
0

-135

0
(D)
D
()
0

-6

n

0
0
(*)
0
33
0

0
0
2
0
-1
2
89
0

-31
0
-5
D
()
0
17

()
0
(D)
22
0
(*)

5
2
53

0

0
0
12
(D)
0
4
19
0

166

117

259

63

46

655
95
393

162
(D)
101
0

(D)
30
40
(*)

n

50
4
46

9
(D)
18
0
0
0

2,981

-3

1,034

-19

155
606
363
-42
(D)
(D)
-63
-10

n
37

(°)
-5
(D)
D

-2
11
39
0

0

73

822

0

fl
(D)

(*)
(*)

n
0

n
4

0
105
(D)
0
0
0
5
0

fl
1

0

43
7
(D)
(D)

n
n

21

Banking

Finance
(except
banking),
insurance,
and real
estate

1,155

702

6,817

32

1,048

287
(D)
(D)
0
0
81

4,951

418

8
( )
6
8
196

o
n
0

43
(D)

O
(*)

n
n

106
12
0
127
0
247

-6
0
1
D
()
9
3

658

o
(D
()

D

8
(D)

,?
7

O

-8

7
401

1

(°)
6

21

105

308
20
145
144

4
0
-2
0

-50
(D)

O

o
0

-2

n

0
0
-1
(*)

33
1
0
0
31
1
0

(D)
0
(*)
0
0
(D)
0

208
0
0
0
187
20
0

22
0
0
0
20
2
0

1,286

13
0
0
0
13
0
0

37
(*)
0
0
37
0
0

17
0
0
0
17
0
0

-18
(*)
0
0
-18
0

0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0

(D)

0
0
0
D
()
(*)
0
0

10
(*)
(*)
7
0
0
0
0

(D)
(D)
(D)
0
0
0
D
()
0

3,472

7
0
2
0
4
0
1

82
(*)
-1
2
83
-2

4
0
-1
2
3
0
0

28
0
1
0
30
-2
0

9
0

85
0
0
0
(D)
(D)
0
(D)

0
0
0
0
0
0
0
0

(D)
0
0
0
0

n
0

n
0

H
0

(D)

0

0
0
0
0
0
0
0
0

2
0

0
0

2
0

0
0

0
0

0
0

0
0

0
0

3
0

117
0

-157

22
-20

-65
21
(D)

-6
3

(D)
0
0

-163

(D)
(*)
0
(D)
0

o

( )

(D)
1
0
D
()
0

D

-395

-8
(*)
0
-4
-4

o
0

(D)
2
0
D
()
0

-19
-5
(D)
0
(D)

(*)
(*)
0
0
0

-7
(D)
(D)
0
0

4
4
0
0
0

0
0
0
0
0

(D)
0
0
0
(D)

36
0
0
0
36

(*)

(D)
(D)
(*)
1
0
0
-1
(*)
(*)
0
0
0
0
0
0

-415

1,079

-497

22
0
0
3
0

37
5
(D)
4
0
(D)
12
1
5
5
4
21
(D)
0

(D)
(D)

-M
86
4
21

190
(D)
0
8

98
-1
0
30
0

n
1
n

383
113
2
1,425

226
1,473

12
(D)
-1,125

(D)
800
-364

0
0
D
()
0

fl

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other

1,304

80
91
50
(D)
1
-17
D
()

-397

175
79
(D)
-1
37
53
9
(D)
119

4

0

3

29

912
90
86
(D)
-10

n

n
7
0
1
0
(D)

n

s

0
—
2

596
513
36
40
10
-4
-100

73
12
18
-7
13
-44
37
1

3
0
3
0
0
585
(D)
6

n
n
0
o
( )0
5
-14
(D)
1
9
0

fi
(*)
2
0
0
-2

9
1
9
1
2
5
-53

n
4
2
-3

n
7
1

o
(*)
0
2
0
(*)

0
0
0

n
10
0
0
0
1
(D)
(D)
0

0
0

0
0
0

n

O

0
0
D
()
26
0
0
0
0
0
0
0

0

n
n
0
(>
*

n
0
0
(D)
10

n

n
1
-9
-41
1

n
4
1

n
-2
(*)
(*)

3
0
()
(*)
3
0
195
5
D

121
1
114
(D)
(D)
0
0

0

3
0

2

r:

-15

15
25
(D)
8
1
1
1
1
(D)

-128

n
5

522

O

0
0

1

n
0

n

n
m

68
(D)
0
-12
0
74

0

2
0

1,802

(D)
7
80
(D)
(D)

-3
18
(*)

194

0

177

144

0
0
0
0
0

D

86

58

28
11
0
3
0
(*)
1
0
7
0

O

143

n

0

-297

588

Other
industries

2
2
(D)
139
0

208
(D)
78
7

n
19

(*)
0
42
1
42
-1
223

Services

-14

()
5

0
(D)
(D)
-27




()
0

0
47

0

-1,625

0
-26
27
1
(D)
3

D

'o

-4
(*)
-1
13

0
(*)
5
(D)
1
(D)
-21
0

(*)

5
-34
(D)
(D)

* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.

n
n

-2,134

-147

Addenda:
Eastern Europe
European Communities (12)
OPEC

n

98
60
348
(D)

-169

International
1 lUllvl 101

-122

n
0

1,047

Middle East
Israel
Saudi Arabia
United Arab Emirates
Other

II ll^l

138
38
7

Wholesale
trade

230

Chemicals and
allied
products

Primary
and
fabricated
metals

n
0
-259

40
(D)
4

n

17
(D)
9
0

O

3
(D)
(D)

n
0
1
5
(D)
1

0

0
7
0

0

—
5
0
0
-5
0

-1,134

n

n
0

0

0

0

0
0

(D)

n

1,466

(D)

O
( )

0

n
0
0
0

fl

-10
81
47
4
1
34

C5)
(D)

0
0
0
0
0
2
(*)
-3
5

( )

(/
(D)
0
(D)

fl
(D)
()

0
(D)
56
(D)
1
(D)
0
0

n
3

n
0
0
-61
0
0

n
n
n
n
n
0

O

0

161
117
0
16
0
0
17
(D)
0
(D)
-1
(*)
1
1
0

262
(D)
0
(D)
0
8
(D)
2
0
4
2
(*)
1
0
(D)

33

86

(D)

0

0

0

3,928
-129

-2,062
-114

-513

-2,015

13

4

0
339
6

0
62
5

0
380
D
()

1. See footnote 1, table 11.1.

0
393
(D)

0
35
8

0
294
9

8
793
2

(D)

241
-21

0
5,072

"

1

0
405
8

2
-8
-16

106 • July 1993

SURVEY OF CURRENT BUSINESS
Table 13.2.—U.S. Direct Investment Abroad: Equity Capital Outflows, 1990
[Millions of dollars; inflows (-)]
Manufacturing

All industries

All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany'
Greece
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

Petroleum

Food
and
kindred
products

Total

Chemicals and
allied
products

Primary
and
fabricated
metals

Machinery,
except
electrical

Electric
and
electronic
equipment

Transportation
equipment

Other
manufacturing

Wholesale
trade

452

4,941

3,762

-140

647

-22

307

364

22

70

112

1,664

470

123

370

141

-65

(D)

(D)

4

(D)

109

2

41

198

5

126

7,016

562

4,169

(D)
0
(D)
0
0
2

-7
0
8
0

311
0
(D)
0
0
(D)

39
0
0
0
0
5

(D)
0
(D)
0
0
5

170
0
0
0
0
(D)

-76
0
(D)
0
0
2

83
1
(D)
6
(D)
1

-313

1,846

382

0

(D)
(D)
0
0
(D)

288
0
8
0
0
(D)

(D)
0
0
0
0
-2

3
0
( )
D
( )
0
7

(D)
0
(D)
-26

(D)
0
0
D
( )
0
2

-28
0
-1
-45
1
(D)

25
(D)
0
89
0
-47

(D)

0
0
0
0
0
168

0
0
-2
0
0
5
D
( )
5

0
(D)

2
36
0

4
(D)
2
(D)
8
0
-17
0

(D)
5
546
1

28

130

18

165

62
22
12
(D)
0
(D)
0
2
4
-18
0
0
0
D
( )

n

294
56

n

554
866
-7
-184
-M47
-188
-314
D

C3)
0
0
0
2

(D)
0
0
D
( )
0
-52
D

0
42
0

C3)

-79

258
0
-247

86
53
D

0
0
-27
(D)
(D)
0
(D)

0
0
-46
(*)
-1
0
121
0

0
0
0
0
D
( )
0
(D)

o

0
0
2
(D)
0
0
143
0

49

2

29

74
0
4
0
0
(D)
0

2
0
2
(*)
0
0
0
0
0

30
0
30
0
0
0
0
0
0

0
(D)
0
0
0
0
4
0

0
0
0
0
0
0
0

_1
0
0
0
-1
0
0

(D)
0
0
0
D
( )
0
0

3
0
0
0
3
0
0

(D)
0
0
0
(D)
0
0

0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0

3
0
0
0
0
0
3
0

121
343
0
0

0
0

-620

-223

D

( )
(D)
0
5

D

R
(D)

16

370

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

490
162
116
55
(D)
12
119
17

29
(D)
(D)
4
3
0
1
0
0

278
100
72
(*)
4
-9
0
111
0

9
-5
(D)
0
0
(D)
0
0
0

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

463
0
0
-3
509
-43
(*)

(D)
0
0
0
1
(D)
0

92
0
0
0
92
0
0

(D)
0
0
0
(D)
0
0

-26
0
0
0
-26
0
0

-382

(D)
1
0
0
0
0
0
1
0

(*)
0
0
0
0
(*)
0
0

0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0

0

0
0
0
0
(*)
0
0

0
0
0
0
0
0
0
0

0
0

0
0

0
0

0
0

0
0

0
0

0
0

0
0

0
0

0
0
0
0
0

0
0
0
0
0

0
0
0
0
0

0
0
0
0
0

?

0
0
0
0
0

0
0
0
0
0

(D)
0
0
0
0
0
4
D
( )
0
0
0
(D)
0
0
0

-141

Middle East
Israel ..
Saudi Arabia
United Arab Emirates
Other ..
Asia and Pacific
Australia
China ..
Hong Kong
India ...
Indonesia
Japan .
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other ..
International
Addenda:
Eastern Europe
European Communities (12)
OPEC 2
* Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.

D




03)

6
108

0

209

0

284

2
-617

1
-230

o

n
13

109
8
7
0
93

92
5
(D)
0
(D)

(D)
0
(D)
0
4

(D)
0
(D)
0
0

(*)
0
0
0
(*)

4
0
0
0
4

0
0
0
0
0

-182

-172

n
n
-164

0
0
D
( )

n
n
1

0
0
0
0
0

1
0
1
0
0

0
0
0
0
0

0
0
0
0
0

502
332
183
-94
2
31

23
1
(D)
0
0

-117

(D)
(D)
0
-1
0
0

(D)
3
0
-3
0
0
(D)
0
1
0
0
2
(D)
1
0

-119

140
44
68
-64
15
-51
-4
19

n

-113

0
0
44
253
_1
(D)
0
8

0
0
0
(D)
2
11
(D)

9
0
5
D
( )
0
(D)
0

-239

-102

n
o
n
0

n
0

5
-1

0
0

-140

0
982
-17

-26
0
0
0
0
-142

71
6
0
0
(D)
(D)
0
-1

n
0
0
(D)
0
0
0
0
0

(

0
0
0
162
(D)
0
(D)
0

n

84
4
(D)
0
0

fl
0
0

(D)
(D)
6
0
0
0
0

8
O

( )

-8

0

0
(D)
0
1
0

-3
-1
3
0
0
-159

(D)

O

0
0
(D)
-6
4
0

5
( )
25
D

P
n
0

•fl
4

577
0
(D)
D
( )
(D)
-179

n

0
3
(D)
-73

s
0

n

267

1,030

2
(D)
0
-8
0
2

(D)
0
0
D
( )
-3
(D)

0
0
0
0

3
0

fl

o

0
2
127

-535

3

534

79
(D)
32
31
0
0
0
0
(D)

n

22
0
0
(D)
(D)

-13
0
0
-3
D
( )
(D)
0

1
0
0
0
1
0
0

(D)
0
0
0
(D)
0
0

-601
-135

n
0

n
0

fl
(D)

0

0
0
0

0
(D)
0
2
0
0

(D)
(D)

0

n

0
0
(D)

0
0
0
0
0

0
0
0
0
0

0
0
0
0
0

3
0
0
0
3

(D)
0
0
-1
(D)

2
0
2
0
0

(D)
(D)
-1
0
0

(D)
(D)
0
0
0

-35
-7
0
(D)
0
0
126
8
0
D
( )
0
(D)

208
(D)
0
15
2
(D)
42
28
(D)
(D)
-9
21
31
2

153
77
0
-1
0
0
11
0
(D)
D
( )

n

-S
(D)

n

0

4
11
(D)

o
0
0
5

n
(D)
0
0
0
D
( )
1
0

fl
0

( )

n

O
0

o
(D)
3

n

942
1

0
198
0
0

(°)
(D)
(D)
2

435
0

0
(D)
0
0
0
0
.0
0

8
0
(D)

0

0
0
0
0
(D)
0
0
0
0
2
0
0
0

0
0

n
(D)
0
0

n
n
1
(D)
0
(D)

51

-191

4,342

103
36
(D)
(*)
62

n

n
0

571

2,999

(°)
n
-^84

5
( )
0
D

(D)
0
0
D
( )
0
(D)

3,337

( )
-1
77
-55

( )

n

-98

1,197

Africa
Egypt Nigeria
South Africa
Other ..

Other
industries

863

14

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

Services

8,739

( )
0
0
0
D
( )
1

Latin America and Other Western Hemisphere

Banking

Finance
(except
banking),
insurance,
and real
estate

-14
121

o

-404

3

o

1
( )
D

o

284
0

o

26
0

1. See footnote 1, table 11.2.
2. See footnote 1. table 11.1.

/D\

-24
(D)

5
160

n

0
-58
-2

o

51
5

1
609
31

1,935

2

o

524
-1

o

255
125

July 1993 •

SURVEY OF CURRENT BUSINESS

10y

Table 13.3.—U.S. Direct Investment Abroad: Equity Capital Outflows, 1991
[Millions of dollars; inflows (-)]
Manufacturing

All industries

Petroleum

Food
and
kindred
products

Total

Chemicals and
allied
products

Primary
and
fabricated
metals

Machinery,
except
electrical

Electric
and
electronic
equipment

Transportation
equipment

Other
manufacturing

Wholesale
trade

Banking

Finance
(except
banking),
insurance,
and real
estate

Services

Other
industries

17,281

2,076

2,999

175

636

-777

279

-137

1,784

1,040

1,037

656

7,680

750

2,082

Canada

2,379

385

1,055

71

105

74

(D)

5

(O)

179

33

(D)

655

179

(D)

Europe
Austria
Belgium
Denmark
Finland
France

6,655
-71
80
11

528
0

388
0
7
0
0

274
0
0
0

550
0

998
0

488

443

n
0

388
0
4
0

0

0
2

558
(D)
(D)
0
4
168

440

1
0

0

-197
0
0
0
0
D
( )

-797
0

5

1,773
(D)
-41
0
4
74
9

(°)

All countries

Germany'
Greece
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spam
Sweden
Switzerland
Turkey
United Kingdom
Other
Latin America and Other Western Hemisphere
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other
Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other
Africa ....
Egypt •
Nigeria
South Africa
Other ..
Middle East
Israel .
Saudi Arabia
United Arab Emirates
Other .
Asia and Pacific
Australia
China .
Hong Kong
India ..
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other .
International
Addenda:
Eastern Europe
European Communities (12)
OPEC 2
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.




n
0

218

n

153
19

6
0
0

C3)

0

328

0

2
-62

85
111
-57
575

-13

91
57

n
0

-418
196
127

(D)
0

201

2
5
534
4

6,352

120

1,712

118
(D)
( l3 )
0
3
D
( )
(D)
0
0

93
4,513

343
347
-55
6

n
n
22
605
0

1
0
601
11

-8

n
0
0
0
(D)

(°)
-8

37
55
30

0
0
7

o

1

0

o
0

0
0
(D)

74

-16
36

5
(D)
1

52

n
1
0

20
0

0
0

0
0

1

20
0
0

0
0

n
0

0

14

0
7
(D)
2
65

(I3)

22
4

237
0

-137
0

3
0

9
(D)

/D\

0

0

0

0
0

0
5
972
0

0
(D)
(D)
0
2
191
(D)

n
n

n

(n)

-6

126

6

-1
0

(D)

-2
0
-3

(D)

19
1

-6

(°)
5
n
0

0
0
0
1

0
0

5

0
0
0
(D)
0
0

21

7

36

(ID)

0
4
2
0
0
(D)

0
(D)

0

n
0

0

0
0
0
0
0

0
0
0
(*)
0

(°)

1
0

-3
0

0

0
(D)

0
1
0
0

0
0
-3

0

0
0

0
0

0

0
()
D

0

0
0

0

22
0
0
0

0
0

0

41

0
0

0
(*)
-119

0

n
n
32

217

(D)

n1

n
8

( )

0

(")

0

n
0

(°)
0
C3)

(D)

0

1

0

0

0

0

0
3

0

C3)

(°)
n

19
0

0
0

0

85
38
0

4,022

n
0

5
0

3,262
0
0
-11

(I3)

-5
0

0
0

0

0
0

0
0
0

-2
0
1

0

0
0

1
(*)
0
0
(D)

0
0

0

0

0

0

0
0
0
0
0
0

0
0
0
0
0

0
0
0
0
0

5
0
5
0
0

0

0

0
0

-1
-1
0
0
0

0

n

0

139
12
2
0
126
(D)
0
0

fl

847
(D)
(D)
0

-1

2

0

0

0

7

2
0
0

0
-2
0

2
0
2

2
0
2
0
0

-8
0

2
-1
3
0
0

-16
366
(D)
12
-5
0

0

0
2

n
n
60

0

53

n
n
D
<)

-3

4

477
397

n

0
0
202
164

0
(D)
0

0

n
0
0
0

n
0
0
0

0

0

0
-2

223
(")
(D)
0
0
0

38
(")
(D)
0
0
1
(D)
0

n

-5

0
0
-5
0

0
0
0
0
0

0
0
0

( )
0

-19
0

0
0

0
0

2
0
(D)

0

0
0
(D)

f3)

D

0
(D)
0
0
0
0
0
1

0
0

-685

n
0
3
0
—3
0

0
0
0
0
D

( )

0
0

0

0

0

0
5
0
0
0
0
-2
0
0
0

9

0

C3)

0
0

0
0
0
0

n
0

n
0
-2
(D)
(D)
0
0

0

0
0

0

0
0
0

298
(D)
0
(D)
-5
0
-18
1

0

n
0
14

0
0
0

1

n
n
n

22

0
0
0
0

0
0

0

(°)
n
0

0

0

0

n

15

0

0

0
295

0
0

0

0

0
0
0

0

0
0

4
0

0
0

0
0
0
(D)

0

0

n
n
(°)
1

0

0

0

n

0
567
0

2
1

0

0
0

1

31

0

0

0

-2
0
(n)

65
(*)

0

0

(D)
0
(D)
8
(D)

n

0

0

3

0
(*)

1,499

0

0
0

s(D)

0

n

-24

0

0

n

n
0

4,261

0

0

0
0

-1
629

0

0

165

0

0

(13)

0

145

-13

0

n
0

0
963

0

(°)

-13

0

39
0

-4

(D)

(D)

C)
()
()

66
(D)
645
(D)

n
0

0
0
0

( )

-9

0
0

0
0
0

l3

(°)

0

65
27

137
6,014
1,070

0
(*)
(*)

n

0
(D)

30

0

-79

120
40

84

0

0
(D)

95

-836

n
41

0
0

185

(°)
n
14

206
62
(D)

0

n

n
0

-719

314

0

0
79
(D)

1
0
0
0
0
D
( )
(D)

I")
4

2

148

57

n

H

0
0
-8
(D)

94
158
(D)

0

29

0

n

1,939
1,026

n
n
0

n

-155

(D)

0
31

0

1
0

(D)

n
n
0
n
1 471
-329

n
0

3

0
52

0

0
0

115

0

196
0

fl

1
18

0

3

-198
1
(D)
1

0

n
0

14

0

-14

5
-8

n

155
0
8

0

0
()

n
0

(")
(D)

124
11

(I3)
0

(D)
0

D

2,595
3
D
D

0
0
0

4,035
28
(*)
3,244
1

808
(D)

n

0
0

(°)
n
n

n

0
0
-142

0

27
(D)

O

-4

0
0
0
(*)
0
(*)
0

0
0
0
0

420
228
0
59
0

0
127
7
0
-1
(*)
(*)
-1

0
0

n
0

0

0
0

0
(D)
0

0

0

n
0

(°)
0

0

0
0
0

2
0
0
(D)

( )

0

0

0

-17

0

0

3

-1
-3
0
-13

0
0
0
0

0
0
0
0

0
0
0
3

(D)
0

(D)
0
(D)
0
0

2

0

2
0
0
0

0
0
0
0

n

151

n

n1
(D)

222
81
0

-7
(D)
(D)
61
12
(D)
-3
53

H

n
P
n

C3)

244
0
-11
0

8
-90
28
-4
(D)
0
15

n
n
0

0

n
n
2
0

0
4

0
0
0
0
(D)
0
4
0

63
0
1
0
(D)

2
7
0
0

n
1
0
0
(D)
(")

86
1,594

53

(D)
-212
11

0

326

(°)

0
-820
5

7

264
0

1. See footnote 1, table 11.2.
2. See footnote 1, table 11.1.

(D)

520
(*)

0

n

992

524

(°)

0

0

283
(*)

n

346
(")

(D)

0

(D)

2,550

430

334

-26

n

n

108 • July 1993

SURVEY OF CURRENT BUSINESS
Table 13.4.—U.S. Direct Investment Abroad: Equity Capital Outflows, 1992
[Millions of dollars; inflows (-)]
Manufacturing

All industries

All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany1
Greece
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

Petroleum

Food
and
kindred
products

Total

Chemicals and
allied
products

Primary
and
fabricated
metals

Machinery,
except
electrical

Electric
and
electronic
equipment

Transportation
equipment

Other
manufacturing

Wholesale
trade

Banking

Finance
(except
banking),
insurance,
and real
estate

Services

Other
industries

8,007

-119

4,184

1,111

644

164

65

401

219

1,581

699

1,201

-373

906

1,50<

792

-470

746

35

10

(D)

-1

(D)

(D)

229

392

(D)

-391

10

(D

3,752
4
139

-7

3,166
0

819

647
0

113
0

46

424

583

900

677

45

0
5

1,030
0
3

-2,017

0
0

87
0

22
(D)

0
0
2

0
0
235

0
0
1

0
0
(D)

0
(D)
0

0
0
(D)

0
(D)
368

10
1
(D)

fi

1,182

0
0
(D)

fl

1,908

850
(D)
113
192
7
(D)

(D)
0
0
1
0
-27

350
0
74
127
1
64

0
0
0
(D)

(D)
0
(D)
(D)

1

13
0
(D)
7
0
22

4
0
(D)
(D)
0
0

(D)
0
-5
7
0
0

22
0
(D)
15
1
38

170

0

38
0
0
-1
0
3

162
30
274
129
1
14

D

D

D

D

0
0
(D)
0
1
0

0
0

-3
(D)
169
(D)

0
0

n
0
(D)

0
(*)

o

459

()
0
0
0
1
0
(D)
(D)

()
(D)
79
(D)
1
(D)
540
286

()
(D)
0
0
0
0
6
77

2,868

o

0
0
(D)
(D)
0
( )

9
31

0
0
0
0
0
1
(D)
(D)

0
0
2
3
0
0
4
0

()
(*)
5
0
0
0
(D)

p)

n

0

0
0
228
(D)

P)
0
44
0
(D)

o

61

n
n
4
0

O
0

O

0
0

(*)
0
(D)

236
0
10
(D)
1
(D)

20
0
0
2
0
(D)

o

0
0
0
0
(D)
0
608
0

(D
(D

0
(D)

P)

-4
0
(D)

37
(D)

709
1

P)

0
889
0

n

(D

(*)
1
410

n
9

11

(D
(D
(D

(D
(D

2,483

211

275

139

-17

1

5

o
(D)

(D)

(D)

-6

151

1,905

(D)

(D

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

577
281
86
124
(D)
(D)
(D)
64
23

106
(D)
0
0
(D)
(D)
(D)
0
0

190
14
62

(D)

5
0
5
0
0
0
0
0
0

1
0
1
0
0
0
0
0
0

(D)
0
(D)
0
1
0
0
0
0

26
0
(D)
(D)

-6
(D)
(D)

1
0
0
(D)
1

(D)
0
3
(D)
0
0
0
-2
0

0
0
0
0

0
0
0
2

(D)
-3
23
-6
0
1
2
3
(D)

259
240
4
(D)
0
(D)
0
0
(D)

(D)

4
0
0
0
0
(D)
1

(D)
(D)
(D)
0
0
0
0
2
0

0
(D)
0
0
0
0
0
0

(D
(
(
(D
(D

Central America

112
0
1
0
88
20
3

(D)
0
0
0

85
0
0
0
88
(D)
(D)

91
0
0
0
91
0
0

-52
0
0
0
(D)
(D)
0

(D)
0
0
0
(D)
0
0

0
0
0
0
0
0
0

(D)
0
0
0
(D)
0
0

5
0
0
0
5
0
0

(D)
0
0
0
(D)
0
(D)

(D)
0
0
0
(D)
0
0

(D)
0
1
0
(D)
5
(D)

21
0
0
0
-1
22
0

-2
0
0
0
-2
0
0

fl

(D)
(D)
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0
0

(D)
(D)
0
0
0
0
0
0
0
0

88
80
0
0
1
(D)
(D)
0
16
(*)

1,625

-3
0

0
0
0
0

(D)
0
0
0
0
D
()
0
0
0
0

1

T

n

0
0

0
0

D

o

0
0

( )
0

0
0

0
0

0
(D)
D
()

0
0
0

0
0
0

0
0
0

0
(D)
0

0
0
0

0
0
0

0
(D)

0
0
0
0
0

0
0
0
0
0

0
0
0
0
0

0
0
0
0
0

()
(D)
0
0
0

0
0
0
0
0

-6
0
0
(D)
D
( )

()
0
3
(D)
0

()

14
0

-47
-1
0
(D)
0
0
11

-336

-3
0
0
0
0
0
(D)
0
0
0
0

-269

(D)
(D)
0

143
-12
0
28
0
0
57
(D)

214
(D)

63
14

0
0
0
-2
0
0
1
0
(D)
0
0
0

r
(D
p

0

(D)
0
0
0
D
()
0
(D)
0
0
0
0
0
0
0
(*)

31
572
(D)

(D)
62
-2

0
43
0

Latin America and Other Western Hemisphere

Costa Rica
Guatemala
Honduras
Mexico
Panama
Other
Other Western Hemisphere
Bahamas
Barbados .,
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

1,794

81
(*)
( )

n
o
(D)
1

J
)

2
-4

0
0
0
1
0
0

-112

1
(D)

n

<i

0
0

40
-2

{

( )

Africa
Egypt
Nigeria
South Africa
Other

-22
15
(D)

-5
0
48

0
15
D
()

Middle East
Israel
Saudi Arabia
United Arab Emirates
Other

378
(D)
5
(D)
135

122
0
0
(D)
D
()

D

()
(D)
2
0
0

()
(D)
0
0
0

2
0
2
0
0

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other

596
307
70
(D)
-13
159

(D)
-54

-277

69
2
(D)
0
0
0
5

(°)
79

International
Addenda:
Eastern Europe
European Communities (12)
OPEC 2
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.




0
0

114
(D)
(D)
-7

-68

-519

-64
69
4
-95
181
36

n
439

o

0
0
0
2
0
2

-125

(D)
0

/D\
\ )

47
-6
16
(*)

0
0
D
()
D

n
0
0
2
(D)
0
0
0

0

0

P)
(D)

-153

-1
5
0
(D)

P)
P)
P)

n
0
0
0
11
0
0
0
0
3
0
0
0

33
(D)

o

0

0
0
(D)
(D)
0
0
0
0
1
0
0

0
400
0

0
86
0

p)
p)
0
D

()
_4

p)
0

o

D

o
0
(D)
0

n
0

-4
0
18
0
0
-288

0
1
0
0
(D)

P)
0
0

5
0

P)

0
0
(D)

o
p)
0

-5
0
()
0
0
D

3D
()

36
19
-1
1
(D)
18
13
5
(D)

D

P)

3
0
(D)

P)

0
0

O

(D
-5

-5

_3
0
0
0
0
0
0

(

0
0

«

0
0
0

(

D

p)

0
0
0

o

(D

(

p
(D

«
D

2,960

-11

179

-112

286
2,499

77
563
(D)

1. See footnote 1, table 11.2.
2. See footnote 1, table 11.1.

n

773
0

P)

559
0

0
852
-6

0
-2,027

-5

0
721
0

(D

36

July 1993

SURVEY OF CURRENT BUSINESS

• 109

Table 14.1.—U.S. Direct Investment Abroad: Reinvested Earnings, 1989
[Millions of dollars]
Manufacturing

All industries

Petroleum

Food
and
kindred
products

Total

Chemicals and
allied
products

Primary
and
fabricated
metals

Machinery,
except
electrical

Electric
and
electronic
equipment

Transportation
equipment

Other
manufacturing

Wholesale
trade

Banking

Finance
(except
banking),
insurance,
and real
estate

Services

Other
industries

12,697

-1,676

12,072

641

2,892

952

1,418

933

2,853

2,383

1,095

-1,894

1,700

737

663

Canada

2,268

-3

1,399

-27

580

218

-206

-10

385

459

187

89

251

-37

382

Europe
Austria
Belgium
DenmarK
Finland
France

6,863
36
198

-477
-8

5,700
29
184

185
2

1,380
-2
141
2

308
(*)
10
(*)

811
-2

284
21
-13
-18
-1
39

1,499

1,232

-903
-9

-5

(D)
-1

-25

643
-2
21

10
0
74

n
o
36

-20
1
1
1

92

(D)
1
6
1
264

1,055
21

865

(D)
(D)
0
0

37
_•)

536

73

267

6

18
7

-61

0

-14

47
40

9

57

5

1
294

9

n

n
18

157
(D)

88
(*)
-105

(D)
—25
2

<q
(D)

o

All countries

Germany, Federal Republic of
Greece
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spam
Sweden
Switzerland
Turkey
United Kingdom
Other
Latin America and Other Western Hemisphere
South Amenca
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other
Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

5
2
817
1,533
12

599
264

(D)
(D)
( )

3

30

220
77
619

-9
0
91

49
-17
-1
-49
(D)
-669
-7

87
161
19
1,109

(*)
5

3

93
(D)

91
—1
17
5
379
-1

( )

3

(*)

-185
0

(*)
189

48

0

0

9

-73

28
5
20

-71
(*)

103

-1
1
15
( )
12

1
1

8

(D)
75
0

—1
164
0

52

55

(D)

75
5

0

3
1

(D)

(D)
(D)
0

6
(D)

n

-122

-8

77
22

498
D

1

( )

59

-3

1
-188

10
861

(D)

13
120
32
661
( )
171
1

94
-24

12
1
68
1

-3
2
36

3

3

-6

0

-535
-15

-1,263

n

57
4
(D)
2

n

307
4
15
51
9
77
( )
8
6

( i

23
(*)
-4
-5
-3

-5
1

o
()
*
(7)
-1*
(D)

1,378

-270

2,802

360

531

293

172

218

800

428

-879

-899

454

89

80

-255
-27
-70

2,104

187

320

161

268

636

37

-49

-35
588

-128
10
19

0

230
(D)

-8
-13
-3
16

-273

(D)
141
1

217
-4
221
1

758

-35
355

193
-10
137
62
3
1
3
-4

(D)

0
0

-n
1

12
-1

(D)
1

(D)
0

(D)
0

-7

n

D

39

0

(*)

11
0
0
0
11
0
0

(D)
1
0
0

42
0
0
0
42
0
0

160
(D)
3

0
0
0
0
0

(D)
0
-1
0

225
10
-8
-3

-97

-39

1,992
94

182
1

-59

96

28

-1

—3
-16
37
1

n
D

( )

8

-3
-40

623
17
7

733

n
-15
- 1n
1

-501
-6

-15
1

&
(D)
-9

25

n
()
*
13

-889
90
131
211

23
-19
-128
-143

2

fi
n

35
1
3

-116
3
-16
35
-139

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other

2,459
1,030
-70
259
34

-494
-34

146

257
168
281

1

-9

-263

-158
24
27
35
-244

6

n

75
5
2

Middle East
Israel
Sauci Arabia
United Arab Emirates
Other

170
-85

1

8
13

80

26
267

O

n
r)

6
24
14

29
-3
-18
-11
-1

170

202

7

(D)
(*)

3

7

4

2

76

n
n
-54

-958
-449

-125




8
28
1,124

255

(D)
-2

2,111
-205
2,287
240
-88'
-10
-146
41
-9

80

* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.1.

114

-2

-117
21
-127

Addenda:
Eastern Europe
Furopean Communities (12)
OPEC

141
10
156
66
(D)

48

13

30

O

24

998

-95
—1

-7
126

235

Africa
Egypt
Nigeria
South Africa
Othe r

International
II l l & l • l U U v l (HI

O

n
9

96

82
1,329
137
1,521
13
-1,195
3

12
61

231

1,335

75

(*)
-7
794

20

4
2
164

192

(*)
-7

(D)
-1

3
0

9

O
(*)
(*)
1

(*)
1
0
1
9
(*)
(*)
-4
13
(*)

o

(*)
(D)
2

n
n

35
_1
D

( )

3
0

(D)
0
0

(*)

0

n
n

(D)
0

-9

0

3
0

0
0

(D)
(*)
3
16

15
1

n

0

0
0
0
0
0
-13
1
0

(*)
0

(D)

0
0

0
(*)
0
(D)
-1

-20
7

D

n
n
0

n
0

-1

2
1
0
0

0

0
0
0
0
0

0
0

0
0
0
3
1
0
1
1

-1

2

0
(*)

O

725
(D)
(D)
(*)

(D)

n

152
1
-1
-1
0
(*)
(*)
-4
1
0
-1
2
1

3
6
-1
1

773
333
-12
148

-202
134

144
-68

31
23

84
24

O

(*)

n
34

(*)

o
0

-232

642

79

-3

23
11
-1
101

139
-8
-12
1
21
105
56
-1

-17
0

-4
7
64
29
15

2

5

-29

30

0
-485
-172

D

( 0i
(*)

35

0

13

n
3

(D)

0

3

0

o

7

0

2
-6
80
28
9
1
10
82
67
34
-2

(D)

-44
(D)
8
-332
111
2
-2
24
-157
7
D

( )
2

l°)
50
—1
-6
122
17
4
-10

15
5
7
4

-6

2
1

-28
-4
-1

5,075
-151

(*)

5

(*)

(*)

3

n
90
n

-47
15
-2
-2

fi fl
10
9
4

-52

(*)

( )
(*)

6
44
-1
0

-8
(D)

n

6

_2

9

81

( )

7

5
8
(*)
-1

70
5

( )
-41

13

(D)
2

12

(D)
1
1
1
4
2

D

(D)

-37

(D)
10
6
103
12
4
-11

D

(D)
-35

(D)

(D)
0
8
(D)
(D)
2

15

5
(*)

( )
3

2
-29

(*)

1
(D)
r)
(*)
9
-1

157

(D)
5

11
10

D

0

21

26
2

n
2

( )
4
-59

202

5
(D)

-727
-36
4
-885
(*)
(*)
284

-55

(D)
66

36

0
(*)
(*)

-616
-511
2
0
(D)
—"!
1

102
42
-1
40

67

-7

-221

-2
34

(*)

(D)
(D)

(D)

1

n

1
-1
4

(D)
1

D

(*)

15

-39

27

fl
(D)
3

1

271
94

70
193
4

n
n

1

167
93

228

14
13

n

6

0

3
2
0
116
-44

58
486

(*)

397
18

(*)
4

(*)
-10

0
3

651
61
2

8
1

51
-8

2

118
89
-1

(*)

27
1

-4
5

2

404
190
1

-110
18
-4
91
1

(D)

1

-12

—
3

-1
4
2

3

0

D
n

545
0
1

n
n
-3

8

114
73
1

n
0

O
1

0

0

0

2,122
618
10

42

-9
0

7
21
2
1

O

0
0

2

-972
1
-1
2
9
-982
-1

n

-3
(D)

73
7
-1
0
2
2

22
1

1

-1
0
0
0

(D)
0
-12

( )
-13
-4

-260
28
2
-2

5

-2
8
5
1

82
0
5,402
32

0

163
12

0
1,366
-17

0

0

0

302

646

-2

8

258
-3

0
1,477
-7

o

1,191
41

0

345
-14

(D)
-687
48

0
-47
-15

£

14

(*)
-18
-45

NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, reinvested earnings
are shown without a current-cost adjustment.

110

SURVEY OF CURRENT BUSINESS

• July 1993

Table 14.2.—U.S. Direct Investment Abroad: Reinvested Earnings, 1990
[Millions of dollars]
Manufacturing

Food
and
kindred
products

Chemicals and
allied
products

Primary
and
fabricated
metals

8,618

1,127

1,979

601

176

157

147

-185

1,692

4,801

267

1,244

153
393
30
(n)
344

634
7
48
26
(*)
-AA

1,151

18
40

2
179
(*)
-3
129

fl
o
9

-4
-10
-2
(*)
85

568
10
295
717
-85
533

49
0
24
105
0
135

190
10
73
188
(D)
189

86
0
2
-2
(D)
61

11
24

(*)
11
134

3

(D)
3
76
0

(*)
(D)
68
1
8
4
102
-1

-13
•n
16
3
81
0

205
775
60
-11
551

Germany
Greece
Ireland
Italy
Luxembourg
Netherlands

-436

11,327

l

1,727

-26

Europe
Austria
Belgium
Denmark
Finland
France

Petroleum

18,954

All countries
Canada

1,098

27
688
1,027

-97
2,340

306
103

Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

1,297

145
2,075

Electric
and
electronic
equipment

1,244

227

All industries

n
n
-5

559
^3

41
1
-62
312
1
28
2
166

Total

1,075

151
172
17
407

5

O

Machinery,
except
electrical

1,278

1,679

2,831

-1,836

6,556

1,044

15

45

-190

78

96

53

295

41

-302

132
30
-7

570
(D)
59
1

1,942

-1,404

3,447

59
185
23
6
192

-3
(D)
(D)

-21
197
17
0
85

954
1
(D)
1

-105
—1

-1

803
(D)
(D)
0
0
-38

260
0
65
(D)
3
33

66
_1
32
-30
1
57

166
0
4
-17
1
5

-249

53

398

4
1
(D)

0

6

-1
-40
0

(*)
15
-38
-8
20
2
7
(D)

61
1
268
0

2
37
109
-20
525
13
196
11

8

fl

0

204

0

95
(D)
-108

fl 9D

3
1
7
-87

()

5
158

74
10
28
(D)
-6
1
15
22
(D)

95
38
-17
60
3
-3
3
2
9

252
-74
190
139
-3
-1
0
2
-1

7
5
-9
4
0
-1
5
2

n

11
3
32
-10
-3
-3
(D)
2
(D)

192
5

73

-4
0

n
n

-1
2
56
15

744
0
1
3
83
657
(*)

-1
1
(*)

34
-5
(*)

18
0

66
-42
47
31
-1
(D)
(D)
0
30

-240
-141

706

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

1,032

-160

-11
-15
-29
4
35
(D)
(D)
-13
6

189
14
155
_1
32
-4
-19
12
-1

42
(D)
10
17
(D)
2

-44
-2
-42
(D)
2
1

214
-17
217
(D)

107
45

-44
-39
(D)
-9
-7
(D)
28
25

754
147
386
48
128
5
-9
46
4

-132

84
571
253
109
-8

496
-9
374
30
26
(D)
(D)
62
-1

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

1,759

4

19
7
-35

O
(*)
0

911
23
7
8
921
-18
-29

154
8
5

175
6
(D)
(*)
187
(D)
-1

n
3
n

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

1,512
-180

1,157

624
-12

110
110
11
-9
73
(*)

120
(D)
16
29
4
6
-1
(D)
10
14

-177

-367

90
1,308

Africa
Egypt ..
Nigeria
South Africa
Other ..

93

79

-180

-190

85

n
n

-174

588
106
362
90
31

Asia and Pacific
Australia
China ..
Hong Kong
India ...
Indonesia
Japan .
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other ..

203
4

2,934

Middle East
Israel ..
Saudi Arabia
United Arab Emirates
Other ..

International

4
-16
15

756
312
-64
14
-8
595

896
-23
284
38
565
13
181
83
-22
80
524
128

n

114
85

-149

-13

-3
-32
-26
(D)
84
1
(D)
7

5

Addenda:
Eastern Europe
European Communities (12)
OPEC 2

. .

.. .

* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.2.




1
21

53
(D)
(D)
7
5
111
4
4
81
21
233
(D)
(D)
0
-7
1,503

393
18
177
25
12
110
29
95
-4
89
373
84
100
2

8
0
(*)
(*)
(*)
2
1

23
-1
0
(*)
6
20

n

1

-12

0
4

n
0

12

n
n
2

o
4
6
-1

n

-1
0
0

155
79
1
4

fl

26
17
1
2
10
2
6
(D)
(*)

14

(°)
n
2
(°)
0

8
O

n
(D)
0
0
0
0
(D)
0
0
0
0

5
1

O

2
2
2

n
1

-7

0
0

113
83
6

64
28
-2

n
14

n1

5
-48
1
3
-6
41
-3
-2
18

1
2
7
(D)
2
2
3
4
5
(')

fl
0

2
0
-11
0

13
0
0
0
13
0
0

(D)
1
0
0
4
0
(D)

327
0
0
0
327
0
0

0

(D)
0

0
0
0
0
0
0
0
0
0
0

14
(D)
0
(D)
2
1
23
0
0
19
4

0
0
0
0
0
0

n
0
0

0

0
1
0
0
0
(D)
0

44
1
0
37
6

(D)

5
(D)

o

4
3
0
(*)
1

1
1

(D)
78
(D)
0
0

-1
-1
0
0
0

487
14
(*)
102
—
1
-3
51
-10
71
7
24
188
26
18

121
81
(D)
1

o
0
0
259
31
2
18
13

n

-71
-2
(D)
1
0
180
30

0

o
0
32

194
(D)
-4

O
O

O

n

-888

n

1
-3
-1

o
(D)
0

n
n
-3
-122

n

(D)

14
8
4
2
1

-7
4
1
0
-13

-2

10

8

n

-20
0
(D)

0

n
305
76
(D)
43
-2
(D)
119
16
14
-4
12
(D)
19
1
(D)

7
-8
556
136
47
18
3
(D)
113
67
3
(D)
13
91
54
23
-1

fl
-309

-11

n

-89
17
1
-228

n

n

n
n

n

n
0
-5
0
(D)
1
0
0

92
7
(D)
-16
-68
-22
(D)
5

-151

4
-6
(*)

92
-7
3

14
1
(D)
1
-1
1
(B)
-4
-1
-1

113
(D)
0
-27

3
56

n

5
-4
1
1
7

7
-1
0
(D)
(D)

144
7
(D)
(D)
(*)

12
-1
-5
-8
26

6
3
2
(D)
(D)

255
-59

161
99

32
-1
_2
218
2
11
-2

12
26
(D)
43
2
1
-49
-2
-1
1

n
28

n
9

4
3
()

6
6
0

1,360

-34
18
1,273

(*)

n

-6
2
147
-39

60
1

n

-86

-199

.

78
-1
(*)

n

154
-1
(D)

n
n

-3
2
1
-2

20

541

n

1,413

11

n

2,356

-40

0
0
(D)
0

-297

1
16
78
8
95

39

-149

-119

n

(D)
3
-22
6

-1
10
(D)
13

213

116

n
0

1,015

(D)
23
33
-4

52
4
(D)
33
(D)
459

7

388

(D)

-33
-5
310
122
-21

13
-9
-15
16
-15

0

n
95

151

-300

O

-152

58

0
414
(D)

1,743

n

65
1
22
118

n

-121

(D)
1
-4
-2

(D)

-36

-8
(*)

Other
industries

711

4,304

-128

Services

Other
manufacturing

595
-17

Latin America and Other Western Hemisphere

Banking

Finance
(except
banking),
insurance,
and real
estate

Transportation
equipment

59
668
9

n

Wholesale
trade

D

n
2
-1
2
(D)

n
89

fl
-3
-4

O

37
24
7
1
7
D
( )
90

-26
8,537

1,203

4,311

844

434

226

0
563
-9

()
*

1,141

177

0
245
-4

o

1,063

6

100
-4

SI
-9

o

520
70

-1
1,345

/Dy
-1,139

2,082

21

48

135

o

1
841
24

(*)
-106

-45

2. See footnote 1, table 11.1.
NOTE—In this table, unlike in the international transactions accounts, as revised in June 1993, reinvested earnings
are shown without a current-cost adjustment.

SURVEY OF CURRENT BUSINESS

July 1993 •

111

Table 14.3.—U.S. Direct Investment Abroad: Reinvested Earnings, 1991
[Millions of dollars]
Manufacturing

All industries

All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany'
Greece
Ireland
Italy
Luxembourg
Netherlands

Petroleum

Food
and
kindred
products

Total

Chemicals and
allied
products

Primary
and
fabricated
metals

Machinery,
except
electrical

Electric
and
electronic
equipment

6,757

1,200

2,822

307

-334

322

654

1,785

2,250

-1,829

5,655

695

388

164

-185

-23

5

(*)

536

-108

23

_9

234

100

35

7,994
39
111
119

1,900

3,144
6
493
41
-2
579

590

2,252

1,018

2,391

527

-81

3

16

1,475
11
132
81
-62
194

-1,363
2

511

53
47
-17
-7
-1
41

-481

1
31
37

305
(*)

(D)
-9
-1

132
17
0

-67

75

1,596
14
521
703

-62

(D)
42

5
C)
D
(D)

953

()

2.386

692

26

4
()
(D)
D

1,093
1,202
133
1,658

2
234

92
265

( )

5

52

291

34

n

-592
-2
-10
-3
3
-88

193

176
11
382

132

114

0

0

n

-2
46
24

0
16

D

3

335
(D)
266

n
1

(*)

43

70

12

-3
17
1
109

20
14

7
36

5

-36

-2
-302
57
163
46
-1,145
17

( )

(D)
(D)
8
0

4,523

37

1,780

316

474

-30

South America
Argenfna
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

1,222
240
539

-89
48
-66

717
128
370
-8

92

257
2
236
12

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

1,873
13
-17
-12
1,313
586
-10

Otner Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

1,428
-429
104
1,256

122

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other
International
Addenda:
Eastern Europe
European Communities (12)
OPEC 2
* Less than $500,000 (+).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.2.




Other
industries

-738

5
12
_2
-57

Middle East
Israel
Saudi Arabia
United Arab Emirates
Other

Services

2,074

35

Africa
Egypt
Nigeria
South Africa
Other

Banking

33

69

Latin America and Other Western Hemisphere

Other
manufacturing

Finance
(except
banking),
insurance,
and real
estate

16,174

92
-410
78
1,172
17
-1,366
17

Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

Transportation
equipment

Wholesale
trade

245
36
-10
-53

(D)
681

(D)

-73

(

!?
88
1

o
n
32
31

14

D

(*)

0

9
1

341

-23

(D)
-388

2
-50
-1
4
1

42
25
37

(D)
(D)

(D)

23

22

11
1

4
-6
3
4
12

-3

2

3

(D)
5
26

-22

562
0

16
1

106
-4

(D)
(D)

72

457

105
5
5

102
7

94
1

222
(D)
( )
0
0

(*)
(*)
(*)
0
0

2,914
-429
2
444

953
-26
-38
77
(D)
861
187

1,117

100

260

53

5

66
22

6

0
1

4
-9
9
-3

(D)
1
1

150

-13

55

677
110

38
843
1,116
-28
143
61

77
570

-3
51
63
(D)
89
4

240
-133
-28

(D)
-38

58

9

10
81

22
-118

55
-27
103

379
149
44
3

23
1
-4
41
_c

1

n
' 4

n
0
0
137

-36
7
—
1
42
-13
53
22
3

2

(*)

(*)

0
0
0

3
0

(D)

0

fl
0

0

21

39

8

(D)
(*)

0
0
0
39
0
0

1
0
0
7
0

386
0

0

o

20
(D)
(*)

(D)
0
0
0
0
(D)

0
0
0

0
-12
1

n
2
1
1
0
0

-2

16
8
1
(*)

2

n
-1
n
-1

n
(D)
0

51

0

0

27
3
(D)

19

157

129
-4
-1
2
61

7
-1

386
0

(D)
152
2

0

(D)
21
0

(*)
0
(D)

0
0
0
0
0

0

0

0

0

(*)
0
0

0

0

-1

n
0

0

0

(D)
1

(D)
1

9
7

D

0

O

-5

42
-1

(*)
0
0
0
0
0
0

37

o

31

(*)

o

22
(D)
0

26
0
(D)

3

70
(*)

0
-1
1

n
()
*

-28
-124
56
91

-29
-215

(*)

0

5
-2
(D)
(D)

-61

1

n
(D)
6

-7

(D)

1
1

(D)
85

-1
-1

-2
(D)

(D)
(D)
3

n
0

(D)

0

( )
0
0

0
0

0

-7

418

211

-95

558

57

7
(*)
20

43

280
72

n
1

20

2
32
13

-1

0

(D)

26
(D)

2

-41

14

8

(*)
0
211
48

1
9

186
30
-10
(D)

n
0
-68
(D)
0
(D)
0
4

n
0
4

fl

132
15
24

n
8
-4
18
1

462
(*)
1,265
-136
10
1,139

n
n

259
2
-8
-1

11

-372

(D)
268
/D\
/D\

470
23
10
-68

19
98
49
28
5

D

( )
(*)
-24
-555
-343
1

22
48

n

-239

84
(D)
(D)
-65
-82
-3

-9
3
(a)
0
(D)
6

s(*)
(*)

-80

2

n
-5
-1
(D)

n

a
(*)

-36
6,664
1,718

-40
1 943
1,060

0

(D)

n

(*)
0
0

(D)

26
8

n

n
-3

O

-25

132
(*)

2

193
3
0
41
(D)
(D)
4
(D)
3
1

8

2

7

(*)

1

o
0

-6

O
0

(*)
2

232

25

45

12

1
4

2
22

-2
1

6

(D)

0

97

-7
0

2

2
(*)

n
0

1
3

0
(D)

( )
4
1

D

-1
0
6

185

9

(D)
0

0
31
6

21

162

3

(°)
(D)

n

n

628
2

91
19

o

(D)

122
31
(*)

89
-1

-5
438
-10
13
7

(

D

)

72
12

20

22
3
(D)
40
_•]

(D)
4

-117

0

-25
71
-3

—1

(D)

(D)
(D)
16
9
6
0

123

-50

5

n
0

8
7

(D)
(D)

fi

(D)
93

346
23
107
211

30

14

0

116
9
69

105

-7
1
16

-1,271

82

-133
-91
200

2

-26
28

194

11

387
-31
360

1
-2
12
2

17

512
-6

0

-23

299
-1
204

(D)
(D)
13
12

-72
217
112
-282

-2

-1
29
21
19
111

(D)

26
-2

(°)

5
31
11
470

-241

(D)
2

-25

17

/D\

(*)
(*)
(*)
2
1
1
0
2

n

56
(D)
148

0

146

7

(*)
(*)

-2

1

22

18
39
-295
-16

36

n

-56

(D)

(D)
0

4

n
n
3

fl
-13

-24

5
0

15

(D)
114

2,172

7

9

85

71
710

O

28

191

fi

19
-1

0
(D)
D
()
3

(D)
-38
-24

69

373

6

65

43
4

71
133
-11
167

(D)
15
-1
-374

9

212

(D)
64

154
_1

15

5

26
4
0

-4
( )

510

184

219

(D)
(D)

5
1
-481

n

0

65
37
8
-11

2

-22
1

2

18

-14

570

—
1
8

o
o
n
n

(D)

!
(D)
15

30
7
37

-92

111
167

n

-4
-11
_2
-1

206

273
5

0
-3

2
( ]
-26

686

4
( )
212

n

( )

[*)

n

1,021
20
3
8
1,022
-18
-14

-18
-1
9
69

(D)
(*)
-15

-7

-34

(D)
16

61

220

-202

-17
125
3

60

29

—1
13

-80
10

n
()
*
11

165

-51

{°)

110
6

25

(D)
1

(D)

14
0
0

n

-8

2

-21

(D)

571

n
-3
20
(D)
-10
107

(D)
2,853
285

1
529
36

(*)
2,202
124

0
281
11

0

-682
8

n
34

-463

4

54

n

0
952
49

2
1,003
41

9
-1,392
54

(*)
1,936

n

1
416
32

n

-95

2. See footnote 1, table 11.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, reinvested earnings
are shown without a current-cost adjustment.

112

SURVEY OF CURRENT BUSINESS

• July 1993

Table 14.4.—U.S. Direct Investment Abroad: Reinvested Earnings, 1992
[Million? of dollars]
Manufacturing

All industries

All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France

17,620

Petroleum

-28

4,538
-18

-882
-70

-31
10

26
(D)
(D)

675

-111

Germany'
Greece
Ireland
Italy .
Luxembourg
Netherlands

-217
46
1,343
808
136
961

-362

Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

-708
102
342

-744

Latin America and Other Western Hemisphere
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

(D)
(D)
-14

O

79

466

-157

1,104

2,150

1,543

63

-4

12

151

27

2,837
122
228
17
12
598

88

1,807
1
191
3

240
(*)
7
(D)

-575

943
(D)
17

219

1
16
12
(*)
128

249

23
3

692
726
100
278

389

3,071

-79

1,985

174

501

217

-32

165

36

49

2,240

8
(D)
-117

1,390
41
103
4
-11
288

72
(D)
24
(D)
-1
27

347

5

6

1,273

fl

752

212
22
9

674
14

-12
(*)
-13
(D)
(D)

-22
15

10
12
1,197
21
-4

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

2,123
440
178
1,162
191

3
(D)

-69
-6




3

3,189

2,388

* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.2.

0
24
17
6
30

(D)
343

-88

9
19
(D)
383

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

Addenda:
Eastern Europe
European Communities (12)
OPEC 2

60

456
399

-54

1

6
17

International

1
25

-6
(*)

-49

5

326
61

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other

-164
2
41
-24
0
-23

7

7,582

-73

126
-5
-22
1,601

72
257
-16
-102
-60

D

4

-55
(D)
5

n
n
16

-604
-407
-143
86
-140

-845
-432
-157

654

143
4

206
253
100

96

n
22
79
38

37

fl

38
/D)
* 2
-8
-82
6

0
(*)

227
150

55

31

192
729

( )

26
5

247
80
25

-19
-13

73

70

154
666
144

-9
(D)

0

3
(D)
36

53
8
43

6

17

20
1
4
60

8

3
(*)

1

(D)

n
0
0

0
(D)
0

n0
0

0
(D)

0
50

5
I3

( )

fl

0

0

0
0
0

)

0
0
0
0
14
2
(*)
6
7

0

23

n
0
15

7

O

69
-6

5
2

83

3

14

22

(*)

2

(D)
-1

( )

o
0
493
16
(D)

(D)

(*]
-82
-3
4

392
-1
323

438

-129

14
-1,198

3

44

482

852

3
-23
-7
3

0
10
3
(D)
196

0

162
(D)
-1
4
7

1

57

16

143

2
32
82

0

fl
14

-14

0
-1
1

n
n
n
0

n

-81

21
7

-18
-2

n

17

86
1

7
161
29
17
(*)

10

0

10
10

0
0

n0
n

o
0
-61
54
(D)
1
(D)
0
-70
-63
0

405
123
3
67
D
( )

O

1

0

4
-1

,3
20
10
19
12
10

22
(*)
6
18
-2
1,234

97
(D)
371
(*)
2
585
-35
(D)
-19

22
48
79
25
5

553

11
-5

4

2
-2

5

66

21

38

6
6
1

8

-47
2,527
543

0

0
1
28

0
0

o
(*)
205
-2
0

0
0

-2

31
(D)

5
(D)

775
0

48

1
140

0
0
37

630

10

3

n
1,208
74

10
1,121

n

1

0
2
1

o

10

0

n

0

7

0

O

]

16
156
13

I ]

<R

233

-20
2
254
(D]
0
(D)
(D!
V 1

-259
-1

-3
0

n1
-

70

27

1

n
4

20
1
(*)

n3

(D)

n
n

n

329
167

504
77

n

6
(D!

40
2
0
(D!

r)

125
15
(D)

-1

\

4
(D)
( )

7
0
(D)

1

-1

-5
(D)

259
3

65

-15

n
(0)
*

89
2

33
(D]
17

n
n

52
29
(D)
37
4
(D)
-22
-3
(*)
2
(D)
-6

510
155
2
109
0
(D!
52
-13
3

-11

89
41
8

156

-127
102

127

29
5
-22
-22

62
3
(D)
3

-11

34
13

8

46

8

7

24

5

0

2

fl
_1

13

(*)
2

(D!
-10

436
41
(D)

4
1
0
2
1

2

0
29

n

-89
(D!
-85

42
336
5
(D)

o0

-1

-1
9
1

55
(D)

410

-2
-2

-1

( )
1

121

-4

35
(D)
15
78
(D)

0

-7
14
12

-1

0

22
2
(D)
5
716
0

(D)

29
125
(*)
26

0
0
0
0

-1

-5
54

1

54

0

588
8
7
316
—1
2
-63

D

B

136

1
0
0
0

631
31
(D)
23
9

n

43
(D)

57
-101
-11

5
0

2

0

67
19

112
-2

n
9

682

585
55
50

331
1

183
69

1

n

10

62

Other
industries

(D)
-18
1

10
163

214
110

D

32

95

P
V
(D)
0

0

6

-8

-3
-75

0

n0

1
8

-12
(D
(D
(D
-29

456

0

-7

-17
1

268

n0

-53
-19

13
(*)
-74

39

0

6

68

3

1
0
(*)

0

23
1

-242

-4

0
0

21

0

fi

239

93

(D)

0

143
143

(°)3

1,949
-42

-1,007
-8

199

1

(D)

—272

529
0
0
0
529
0
0

1

0
0

-6

22
1
0

[ )
0

0

468

404

0

n

0
(

5,579

0

0

0

()

-18

843

0

n0

D

D

0

r)

h

-194
-11

7
(D)

71
/D\

6

30

-7

;D\

o

605

39
-6
27

68

498

484

1

3
3

n

54

n

(D)
0
0

235
168
67

/D\

/D\

-102

399

n

(°)
9
n

6
129

-2
16
63
92

586

-7
-6
0

1

-186

210
-1

5
0

12
-6

343
0
-4
-38
2

-4

224
12

(")
-1

n0

304

-169

(D)

2

1
119

-199

259

1
0

0
73

65

210
(D)
8
(D)
171
(*)
(*)

1
--8

O

n
9

(")
77
-21

-2
(*)

n1

(*)

-37

0

1,115

78
-1

n
10

n

2
(D)

2

Services

18
-7

( )

-7

1

-2

1,644
-3

246

-6

O
(*)

59

1

-232

n1

(*)
230
(D)

-84
0

Banking

Finance
(except
banking),
insurance,
and real
estate

-95

0

n
n
26

30

43

-64

75

2

38

7

-39

-3

3,318

-32
-1

-32
16
54
15

3

116
(D)
—7
(D)
(*)

-5
3

Wholesale
trade

1
-145
-43
31
(*)
-483
-4

-4

_o

(D)

-23
142
-2

54
21
735

( )

35

3
( )

-46

D

12

2,027
414
1
436
19
4

1,255

(*)
10
-16
3
(D)
3
99

101
-5
8
63

218
237
-99
56
-10
-63
51

4,873
1,175

Other
manufacturing

132

-3
-27
405
-89
153
81
-481
-7

1,388
118
-€75

Transportation
equipment

2,957

-15

Middle East
Israel
Saudi Arabia
United Arab Emirates
Other

910

Electric
and
electronic
equipment

204

8,972

7
()

Africa .
Egypl
Nigeria
South Africa
Other

Chemicals and
allied
products

Machinery,
except
electrical

584

-1,467

504

382

Food
and
kindred
products

Total

Primary
and
fabricated
metals

105
(D;

12

60

-68
3,871

-41

-30
2,569

627

-130

372

4

83
35

7
1,759
132

o

186
6

-4
-556

6

P)
841

n

123

186
70

g

-11

70

1,261

-1,093

28

36

1
1,295

134

162
95

(O)

-315

92

2. See footnote 1, table 11.1.
NOTE—In this table, unlike in the international transactions accounts, as revised in June 1993, reinvested earnings
are shown without a current-cost adjustment.

SURVEY OF CURRENT BUSINESS

July 1993

Table 15.1.—U.S. Direct Investment Abroad: Intercompany Debt Outflows, 1989
[Millions of dollars; inflows ( - ) ]
Manufacturing
Primary
and
fabricated
metals

Machinery,
except
electrical

Electric
and
electronic
equipment

Transportation
equipment

413

-549

-189

All industries

All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany, Federal Repobl/c of
Greece
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spam
Sweden
Switzerland
Turkey
United Kingdom
Other
Latin America and Other Western Hemisphere
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other
Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other
Africa
Egypt ...
Nigeria
South Africa
Other ...
Middle East
Israel ...
Saudi Arabia
United Arab Emirates
Other ..
Asia and Pacific
Australia
China ...
Hong Kong
India ....
Indonesia
Japan ..
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan .
Thailand
Other ...
International
Addenda:
Eastern Europe
European Communities (12)
OPEC
* Less than $500,000 (±)
° Suppressed to avoid disclosure of data of individual companies.




Petroleum

18,512

1,154

1,548

473

977

228

-31

180

52

109

-240

-197

13,323
-33

1,083

912

222

-555

278

1

1

27

303

( )
-11
1

P)

1,011
-1

529

(D)

281
-3

P
P)

265

P)

P)

P)

(D)

203

r)

137

31

P)

-159

-1,027
1
_1

P)

407

n

139

433
0
14

109

-7

-5

P)
P)

0

-12

34

P)

(')
2
-37

2

n
n
598
-59

P)

n

274

-25
-16

-22
1,220

4
( )

p)

n
n
-18

-15

-8

-570

16

D

D

( )

Food
and
kindred
products

Total

1

-8

-21
-500
21
-41

10

P)
1

Chemicals and
allied
products

-1

P)

P)

P)

-11

P)

-1

(*)

129

S

P)

0

-1

P)
P)

P)
1

P)
P)

O

P)

P)

0

0

229
-9

52

fl

O

P)

O

fl
(*)
o

-14

-4

n
6

-2
2
(*)

fl
4

0

0
-5
0

—1

P)

0
36

-1

n
n

0

93
0

0
0

p)

0

0
0

0

0

0

0

0

3,925

-283

105

162

n

n
0

P!
(

I?

4
16
-159

( )

P)

2
10
-1

1
0

0

0

fl
o
(0
*
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(*)
-70
-96

-89

-1
91

6
108

-146

-248

-61
63

D

( )
-46
(D)
-170

229
63
D6

P)
P)

-115

n

6
24
4
-14
-7

p)
p)

10
-14

23

P)
P)

P)
(D)
0

n

1
-1
2
10
1
0

P)

3

2
0

P)

P)

p)

p)
p)

P)

n
0
10

1

0

p)

0
0
0

0

0

0
0

p)
(*)

P)
P)

0

1
0

p)

n
4

0

p)

1

-5

p)
p)
0

P)

p)

0

26
10

-60
1
(*)

P

P)

n
(1)
*

P)

n
p)

-128

-32

-115

1

-43
94
65

67
73

O

-70
15
-2

p)

67

0
1,642
-370

-1

5

-3

1

P)

-40

n
2

P)
P)

1
-3

P)

-15

1

P)
-2
-3

0

n
0

( )

p)
-1

13
20
6

0
(D)
0
-3

-A
14
-1

5

P)
0

-96

14,293
-256

-2
(*)

2
5
-6

P)
P)
-1

o
1

(*)
1
(*)

14

-2

-75

-38

1
(*)

P)

-48

0

30
0

P)

27

8

0
(*)
-9

O

P)
P)
P)

P)
P)

n
n

p)
(D)
0

4,013

-2
-15

0

-950

p)

0

0

0
0

0
( )
0
0
D

p)
0
p)

-4

P)

_2
(*)

1

5

P)

n

4,628

P)

(

rl

<
!
?

4

4

8
-6
(*)
-69
(D)

P)
(*)
0
22

s(*)

P)
P)
-14

P)

P)

3
1

14

-18

0
0

p)

p)
0

p)

P)
P)

p)

P)

0
0

P)
P)

0

p)

p)

P)
P)

P)

5

53

0

276

-121

244

-292

p)

-26

55

P)

p)
-1
0

-4

fl

3

5

P)

8
-5

P)
P)

17

265
20

P)

P)

4

n
-1
7

6
3
14

P)

P)

0
0

_1

P)

I?

(D)

0
0
0

p)
p)
()

P)
(*)
0

9
(*)
(*)

P)
-2

P)

48

P)

P)
88

0
24

n
6
P)
-78

0
(D)
0
0

P)
-2

p)
(D)

P)

n

-2
12
-1

0

-15
-3

15

n

P)

0

54
1

-2

0

0

P)
-2

P)

0

P)

-17

56

P)

o

-1

10

-35
(D)
1

P)
-4

45

(*)

n
7

1

44
12
1

-14

P)
4

-2
0
(D)

P)

0

0

-12
55

27

28

-5

0

P)

0

p)
p)
(*)

n

P)

1
0

-87

0

13
28
7

1

(

P)

0

0
0

o
0

0

_2
(D)
24

p)
p)
()

2
-66

0

p)

P)

P)

fi

p)

0

0

0

p)

-53

P)

0

0

0
0
0

P)
10
P)

99
-23

O
0

0

0

22

P)

0

0
0

16

16
-24

1

0

0

(*)
11

r)

P)

-69

26
-2
22
-66
36
24
7
20

P)
P)

0

-2

0

0
0

_1

0
0

P)
1

p)

-5

0

p)

P)

0

0
0
0
192
0
0

0

8
4

p)

-1
0

93

0
1

0

0
0
0

20

p)

P)

(D)

-37

15

D

17

22

-8
(D)

P)
479
P)

1

4,040

192

n
7

68

o

P)

0

113
-2
(D)

137

0

0

fl

203

23

16
28

n

P)

36

5

P)
o
P)
P)

505
(D)

o

-2

-5
1
-40

-8

0

-1

-15
(*)
315

0

P)

0
-2
0

p)

P)
P)
P)
-1

-273
0
8,284

P)
P)

61

71

P)

0
0
(*)

25

0
-66
0

n
1

134

P)
P)
-7

-2

2

()
P)

0
(D)

0

129

1

35

p)

-11
(D)

2
-1

-6
-6

n

P)
P)
P)

-12

-2

481

25

-80
429
-12
56

-3

78
1
17

n

119
(D)

0
-4

-38

P)

73

P)

P)

-18

P)

10

652

-119
1

2

P)
P)

0

44

0

0

418

10

40

-16

44

O

p)
(D)

927

P)
P)

-73

P)

-3

P)

0

540

9,472
-1

-2

2

26

n
n

0

1

-42

612
54
80

125

P)

57
73

P)

-60
-77

-5

-3

125

15

16
-17

P)

P)

-205

1

-48

fl

61

-37

25
80

44

27
36

P)

P)

50

4,662

P)
P)

618
(*)

72

112
-2

n

0
0

P)

-119

113

n
71

-1,085

304

1

1
( )

161

141

P)

-1,370
0

-113

108
121
-21
-22

n
20
n
536

366
-93

176

258

552

-642
0

n

174

29

0
131

( )

636

n
37

0

0

-64

P)
-2
P)

p)

-37

4,736

n
n
55

-5
125

14

o
0
n

0

0

-6

0

44

P)

3
-66
47

511
-84
( )
6

n

Other
industries

-93

•1

P)

1,706
1

12,672

882

-2

P)

5

13,621

-171

108
1

9

-18

4
1,746
(*)

n
o

P)

-5

3

20

10

Services

P)
P)
(*)

2
1

-349

768

Banking

Finance
(except
banking),
insurance,
and real
estate

-402
-4

3

P)

195

292

-18

P)
P)
()
107

P)

Other
manufacturing

Wholesale
trade

p)
P)
6
4—1

P)

n
7
p)

n
2

3
-2
22

0

0

908

214

0
1,012

4

12

37

0

526
5

0
-573

n

1. See footnote 1, table 11.1.

0
284

0
-398

0
-157

-66

12

0

597
2

p)
0

0

0

P)

(*)

9,761

986

399

100

10

-2

SURVEY OF CURRENT BUSINESS

114 • July 1993

Table 15.2.—U.S. Direct Investment Abroad: Intercompany Debt Outflows, 1990
[Millions of dollars; inflows (-)]
Manufacturing

All industries

12

All countries

1,775

Food
and
kindred
products

Total

1,332

Chemicals and
allied
products

1,048

444

588

333

()

D

()

-80
(*)
-73

209

-325

n
5

-60

45

1,853

267

-9,799

1,082

n
n
32

Europe
Austria
Belgium
Denmark
Finland
France

-3
-7
-2
(D)

-1,199
-210
-314
-18
37
232

2
(D)
-14
0
48

n

-145
13
59
336

-378

-52

Germany l
Greece
Ireland
Italy
L uxembourg
Netherlands

112

-500
31

253
273
143
-4,427

n

Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

12

(°)

275

262

(")

(D)
( )

-983
158
210

-14

69

45
468

-990

21

-3

4,635

414

379

190

68

-126
4
-1
26
-49
-1
4
-108

-4,634
20

Latin America and Other Western Hemisphere
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

-28
( I:> )

82
85
193

(°)
-39
([>)

_2
2
-23'
-9

101
(D)

_5

-73
-26
233

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

27
-7

n
0

292
5

2

O

13
2
4

203
1
11

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

4,212
-94

16
-256
5
159
4,458
(D)
-216

(°)

n
n
n
n
n
35
n
n
n

n
n
(°)

-47

233

-305
-363
-258
5
310

157

292

H
2

(|:))

-435
-397
-257
-14

Africa
Egypt
Nigeria
South Africa
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other

n

n
()
*
n
0
n
0

2
-43
-1
99
(D)

n
0
(°)
47
38

(°)
0

s
-7

n
(D)
-6

n
()
*
118
n
n
n
n
7
199
2
(D)
-47
4
-2

n

92

13
-44
(*)
4

n

n
0
35

262
17

n
0

6
17

n

0

( )

n
0

213
(D)

(*)

11

196

0

0

0

n
0

0
0

0

0

0

0

0

0

n

0
196

0
0

-2
222

n
n
n
n
-16
H

-2
-10
(D)
-58

n
n

0

D

39

* Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.

D




-32

0

26

-4
D

( )
45

/[)\

n
3
(D)
11
1

-2

D

n
n
9
(D)

(' )

(D)
0

fl fl

-41

n

1

0

0
0

(D)

(D)
-34
(D)
-44
3
(D)
( )
2
(D)
—1
-2
-42

0

O

(*)

-5

fl
(*)
0

5

C)
59
0

n
n
n
(5)
- 3*

(")
-1

37

6

14

(D)
0

n
0

0
(D)
0

0

-1
(D)
-1
1

n
0

n
-2

-81

36

0
0
0

(D)
('/

0

-81
0

0
0

(*)

-62
-61
(*)
0
0

166

n
0
(D)

n
n
136
-71
(D)
-3
(*)
-121

(°)
19
0

1

37
(D)

n
n
0

0

148
(D)
0
(D)

0

-19
(D)

0
0

7
-14
-6

-3
-43

H
(D)

(D)
0
0
(D)

n
n
0
(D)
(»)
(D)
1

0
(D)
-107

(D)
(D)
( )

3

1
(D)

fl
3
7

-1
D

( )
(D)

135
0
0
0
(D)

n
n
(D)
0
0
(D)
(D)

0
()
D
()
D

0
103

(D)

-9,398

-134
-1
-140

526

n
44
-15
0
(D)
-373
(D)
(D)
(D)
-4,643

n
(D)
1
(D)
102

0

77

3,719

n
n

99

n
23
9
(D)
(D)

0
(D)
(D)

n
()
*
16

n
(D)
0
(D

63

32
9
16
34
(D)
-50

-46
(D,
[iy
152

(D)

(D)
0

8
-67

-5

n
1
23

5
(D)

3
(*)
18

n

181

(°)

(D)

10

183

n
n
n
n
0

-11
(D!
2

0
(D)

207
(D)

n
32

p

22

0

10

14
0

(D)
7

8

-56
0

0
0
0

0

0

n
-2

-30
0

0

-44

( )
2
-4

0

( )

( )

-32

77
0

3,677
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0
0
0

n
0

{')
0

n
(°)
(D)
(77
)

D

(D)
-333
0
(D)
4,399

0

0

-26
-11
(D)
-14
(D)

(D)
0
(D)
0
0

-85
0
0
0

20
14
(D)
(D)
(D)

(D)

-222
-366

-17
(D)
(*)
(*)

-71
12
20
-35
9
(D)

3
(D)

n

0
0
(D)

C5)

-35

3

-5
58

fl
0

n
-7
0

P

n
6
0

n
4
-61
(D
(D
(D
-15

0
0
-4

n

-75
-15

21

(D)

(°)
19

-28

-65
6

P

25
(D)
0

504

fl

100
(D)

0
2
12
7
(D)
0

H

-85

0

0
0
5
(D)

D

14

0

P

383
9

n
_1
(D)
(D)

6

2

n
D
(D)
(D)
)
i

-31

(D)

0
0

-S
-68
15

0

n
(D)

fi

-59
-4

0

0

(*!
( ]
2
28
-2

35

980
152

2,858

()

^,428
-6

0

Other
industries

248

0

0
0
0
(D)
(D)
0

D

0
0

0
(D)
-1
0
(D)
0

R
D
(D)
o
( 0)
O

26
5

(D)

1

1
0

-8
(D)

-2
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0

(D)
-28

n
-261
(D)
-397

0
0

0

0

-1

-146

(D)
14

C3)

( )
-198

-131
(D)
27
(D)
10
8

(D)
(D)

(D)
0
0
0

D

15
(D)
(n)
109
0

1

n
n

s

(D)

( )

0

0
0
0

n
(D)
()
*
137

45

(D)
(D)

5
0

?

D

(D)
0

n
-6

(

-39

5
-1

0
(D)

n
n
4

0

iD)

0

2
125

6

n
n
-2

0

n
-2
(*)
-1

-621
0
43

0

-3

36

n

0

0

0

(°)

-12
(»)

0

13
-10,213

-611
-4
(D)
9

n
0

-14

951

Addenda:
Eastern Europe
European Communities (12)
OPEC 2

1,119
(D)

0
0
0

(D)

0

-2,675
-207
(D)
0

0
0
0
0

-20
(D)

56

33

8

0
0
0
0
0
0

(D)
-7
(*)
1

( )
1
(D)

155

0
0
0
0

-8
(D)

(D)
(*)
-6

313

0

n
0

(D)
(D)
(D)
0
0

-28

o

0

0
(D)

2
(D)
2

237

(D)
0
0
0

25
0
(D)

(D)

482
-22
22
(D)
-1
-94
122
95
(*)

0
(D)
2

n
n
0

(D)
4

n

37
0
0
0
37
0
0

0

n
63

.

2
(*)

0

10
(»)

214

( )
1
12
-29

0

P

-10

132
120

( )1

21
(D)
0
0
0
(D)

10

9

76

-58

n

-25

-71

-1,031

(D)

-4

-4
(;)

D

-297

-27
(*)
-29

395

-25
1

fl

75
(")
(D)

-5,087

1,451

104
-7

-54
(D)
35

-84
-€

n

2

Services

-2,328

133

n
n
16

(D)
0
-238

Banking

Finance
(except
banking),
insurance,
and real
estate

Other
manufacturing

(")

279

Wholesale
trade

Transportation
equipment

-28
0

33

84

52

P
n
-9

fl

172

213

95
1,915
161

-2
-2
1
6

0

-9

n

2,787
-551
-128
75

-9

n
0

n

(*)

(D)

n
3

0
( )
(D)
D

Machinery,
except
electrical

0

297

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other
.

-2

Electric
and
electronic
equipment

-3

D

2,635

Canada

International

Petroleum

Primary
and
fabricated
metals

-3
-1,248
-118

0

0

362

-84

-5

o

196
1

(*)
-383
3

1. See footnote 1, table 11.2.
2. See footnote 1, table 11.1.

-4
100

1
-2,476

o

1 038
-16

-936
-48

o

135
0

o

- 9 520
-31

o

-114
21

o

49C

-7

SURVEY OF CURRENT BUSINESS

July 1993

Table 15.3.—U.S. Direct Investment Abroad: Intercompany Debt Outflows, 1991
[Millions of dollars; inflows (-)]
Manufacturing

All industries

Petroleum

Chemicals and
allied
products

Machinery,
except
electrical

-2,764

3,284

774

529

16

-6

-1,990

-7

-300

4,279

-2,036

4,527

(D)
119
-8
-15
890

439
-1
40
(D)
(D)
(D)

1
(D)
-3
(D)
-54

D

D

3,594

-14
-203
-439
-100
-678

-55
42
811

n
75
11
-38
D

()
(D)
179

2,273

-220

-357
-116

-9
-87
(D)

D
D

)
)

360

-8
212
70

-1,737

41

-15
(D)
670
D
)
48
(D)
474
16

-4,005

-133

287

-239
-195

26

Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

-149
-402

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

-41
-148

-20

n
n
96
306
-53
-2
3
391
-17
-16

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other
^

0 7 2

'iO7

-30
-1,461

-19
56
-1,057

(D)
-1,583

(

!?
(D)
16

-50

n
-1
-33
(D)
-15
49
-12
(D)
0
-12
3

C)
7

(°)
n
n
n
-21
-78
-4
(O)
0
49
(D)

(D)

-123

5
51
694
2

-72
51

-742

-819

181
-17
(D)
-54
(D)

Middle East
Israel ..
Saudi Arabia
United Arab Emirates
Other ..

n
n
D

()

n
n
-87
n

-463

-635

474
15
-80
5

Asia and Pacific
Australia
China ..
Hong Kong
India ....
Indonesia
Japan ..
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan .
Thailand
Other

n
n
22

-549
-152

102
2
(D)

-8
(D)
-34

fl

351
127

-27
-5
197
(*)

n

32
9

-145

-31
-102
D

()
2
D
)
-2
6
D
()
268

n
6

()
(D)
-13
(D)
0
(D)

0

fi

Addenda:
Eastern Europe
European Communities (12)

.......:: :

304
157
(D)
-53
4
52
-206

1
4

n
54

.

* Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.

D




11
2
(D)
59

n
n
n
904
0
(D)
(D)

-62

1.044

n

0

-91
(D)
(D)

16
(D)
(D)

(D)

0
23
(D)
(D)
0
3
(D)
1
158

n
n
n

( )

n
46

49

(D)

(D)

-44

25
13
13
(D)
-5
2

-39
-36
-32
(D)
9

n
(°)
M>\

n
-3

( )

(D)
23
(D)
0
0
0
0
3
0

n
n
n
20
(*)

o

0
0
0
(D)

n
0

0

n
n1
n
(*)
D
<)
/D\

0
0
79
53

n
()
p
()
(*)
0
(*)
6
-3
0

-3
1
9
-128

11
0

n
1
0

n
n
0

n
n
0
0
2
-4

n
-9
D

()
0

-5
-2
-4
(*)

n

-Q
/*)

-10
0

-7
(D)
0

0
0
0
0
0
0
0
0
0
0

20
(D)

2
(*)
0
2
0

n
n
0

n
0

(D)
100
0
-2

1
19
67

O

05)
-9

D

0
(D)
2
1
(D)

n

fl
n

-5

39

34

1

0

-1,962
41

4,269
201

641
-2

454

n

o

-231
-9

1,107

n
(*)
57

-23
5
(D5
)

(D)
(D)
5
474
(D)
-10

D

o
()
D

-2
5

0

54
(D)

D
(D)

0
0
0
4
(D)
0
(D)
0
0

n

0
5

C)

(D)
(D)
156
(D)
(D)

(D)
24
-13
20
5
12
16
61
D

( )

n

7

-44
-67
(D)
-23
4
(D)
(D)
(*)
8

-23
-6
(D)

n
19

(°)

-71
(D)
1
(")

377
175

10
0

11

8

-20

(°)
0
0

(*)
1,440
36

1. See footnote 1, table 11.2.
2. See footnote 1, table 11.1.

n

(D)

D

P

-56
3
-12
-2
-3
(D)
7

P)

32

1
1,164

799
11

n

-147

8
(D)
278
85
13
-25
-6
-4
20
4

0

1
-2

n
n

D

()

o

-7

-127

34
0
0
0

176
(D)

n
0

n
-1,459

(D)
-1
(D)
(D)

1,852
54

-190

17
(D)
-89

fl
(D)

3
-41
-7
(D)

Other
industries

787

(D)

(°)
0
(D)
0
0
(D)
2
267

47
0

()
340
(D)

253
0

0

(°)
(D)
(D)
(D)
647
n

-2

-4,432

192

75

0
0
(D)

-223

(*)
6
(D)
(D)
0

-1
22
-4

v)

0
(D)
0
(D)
0

-158
D

(D)
(D)
(D)
-15
(D)
0
-27
(D)

-4,161

(D)

47

1,157

-2
0

(D)

H
-8

404
(D)
(D)
(D)
0

8

-49
-4
-20
24
-3
-1
-6
0
(D)

n
27

n
(*)
19

-1,162

25
0
0

-48
0
(D)
D
()
-49
1

I)
0

24

4

0
0
0
0
0
0
0

()
(D)

fl

593

664

()
-65
-2
-1
(D)
14
-3

0
0
0
0
0

-2
-3

0
(*)
0
_7
(D)
0
-2
0
(D)

-5,124

8

D

()
4
(D)
0
0

n
n

30

()
236
9

C)

-326

4
4
0
0
0

D

Services

0
0
0
0
0
(D)
-2
0

n
n
n
n
-19

(D)
-7

0

4,700
211

-6
29
(D)
-27
-35

-78
(D)
26
(D)
-12
259

()

()
0

(D)
0
0
0
0
0
0
0
(D)
0

194
(D)

fl

-17

D

0
0
0
0
0
0
0
0
0
0

0

1,364

n
n1

136
0
0
0
0
136
0
0
0
0

n
n
n

807
-4
20

Banking

Finance
(except
banking),
insurance,
and real
estate

72

n
n
0

0
(*)

fl

1,836

—
1

-28

()
0
0
0
(D)
0
0

n

-1
104

6
2
(D)
(D)
0
0
-4
0

852

-66
-11
-69
(D)

-48
0
0
0
-48
0
0

p
()
( )0

n
n1

()

-38
52
(D)

-48
0
0
0
-48
0
0

152
(D)
150
0

n
6

166

0
0
40

(*)

n
199
113
-26

1

1,326

Wholesale
trade

136

-2
0
-79

( )

n
0

155
(D)
(D)
0
(*)

-2

fl

n
0

n
-in

(D)
(D)
0
0
6
131
0

1
-7
-6
(*)
14

7

-5
-100

23

-18

15

-15
281
12
-16

D

D

()
0
2
(D)
(D)
(D)

n
4

80
.

-132

121

-31
(D)
-12
(D)
177
32

-14
50
(*)
-16

(°)
n
)

()

-44
-106

International

78

(D)
-6

Germany'
Greece
Ireland
Italy
Luxembourg
Netherlands

Africa
Egypt ..
Nigeria
South Africa
Other ..

Other
manufacturing

1,454

-5

659
4
58
-3
0
(D)

-181

153
496
57
-31
921

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

Transportation
equipment

-60

Europe
Austria
Belgium
Denmark
Finland
France

Latin America and Other Western Hemisphere

Electric
and
electronic
equipment

1,167

-1,357
-1,248

All countries
Canada

OPECT..i.

Food
and
kindred
products

Total

Primary
and
fabricated
metals

n
0
n
n
n
0
(D)
0
(D)
0

n
0
0

n
(D)
11
-1,440

(

?

-1,250

2
(D)
(D)
75
0
0
0
75
D

fl
(*
n)
0
0

C5)

n
(D)
-2
46
(D)
12
(D)
( )

7
(D)
(D)

(D)
(D)
(D)

(D)
-9
1
(D)
(D)

-52

( )

200
-1

n

0
(D)
-17
-76

C3)

0

1
14
(D)

0
(*)

-6
0
0

n
o

ID\

-1

0

ID\

0
0
0
0
0

()
-6
(D)
8
0

-21
-1
-19
-2
0

n
10

7
0
0

(D)
-20
0
-22

14
(D)
0
77
0

346
(D)
43

fl
(D)

0
8
0
0
0
(D)
(D)

n
()
*
14

-133

-22

(°)
-3
-20
(D)

n
51
n
n
4
n
n
-3

32
0
/D\

/D\

fl

-108

n
n

-548

-1
-1
-3

0
0

r!

0
25

0

0

-1,017

418

1,115

n

7

n

o

5

Il6

• July 1993

SURVEY OF CURRENT BUSINESS
Table 15.4.—U.S. Direct Investment Abroad: Intercompany Debt Outflows, 1992
[Millions of dollars; inflows (-)]
Manufacturing

All industries

Petroleum

Total

Food
and
kindred
products

Chemicals and
allied
products

Primary
and
fabricated
metals

121

11,495

1,431

2,627

338

1,477

Canada

1,961

-166

914

37

353

Europe
Austria
Belgium
Denmark
Finland
France

5,118

1,194
(D)
-128
2
9

1,970
56
(D)
103
(D)
-383

399

753

-81
14
-54

954
3

442

-42
-76
-46
386

()
0

All countries .

98
94
142

n

n
0

31

254
Germany1 ....
Greece
Ireland
Italy
Luxembourg .
Netherlands ..
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom .
Other
Latin America and Other Western Hemisphere .
South America .
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela ....
Other

-79
-45

33
743
64
1,608
33
1,351
-4

-6
-3
-110

()
-11

n

Si

543
(D)
61

16

n
n

3,609

223

413
88
158

370

-140

8
9
66

Central America ....
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

-676

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean .
Other

3
8
-5
-14

19

3,871
-7

Africa
Nigeria
South Africa .
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic o f .
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other
International
Addenda:
Eastern Europe
European Communities (12) .
OPEC 2
..........
* Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.

D




-89
7
-13
-427
-154

108

0
1
-45
-1
7
223

-616
1

n
4
()

-59

34

()
0
19
-87
0
-2
-2

-74
227

n
n

2
( )
179
D

-104

n
-8

-86

n
-2
0
(D)
-34
0

n
-3
143

750

()
0
0
1

n
0
-4

()
i

-8
0
0
2
-10

-8
1,090
-146
20
(D)
11
476
651
-87
-241
-16
-113
187
-128
(D)

n
n
26
2,880
358

()

nD
()

()

-332

fl

n
0
0
-22
59

()

()
512
12
1
188

n

-19
-73

n
()
1,068
296

n
546
-35

n
-53

-a

-45
-30
(D)

O
0
4

()
129
14
25

n
n

179

-23
(D)

n

150
0

n
nD
()

-10

()

-2

32

n
0
6
695

()
166
(D)

()
-185
3

2
(D)

-1
-327

0
0
0
0
0
0
0
0
0
0

n
n

n
D

-15
D

-29

()

8

O
0
0

n
n

1
19

914
9
2
0

3
(D)

()
-13
0
4
0
25
0

-7
0
-6
0
0

n
n

-29
0
D

()
0

n

201
-3

4,065
-24
-8

H
-1

-29
D

364
-50

(D)

9

i
o
(D)
O

n
-31
0
0
(D)
-13
-18

n

14

n

J2

-17
22

-91
-5
0
-7
2
-77

-51

n

-1
0

n

0
1
42

"I
8
-52
0
-26

n
D
(35)

9
461
-162

-21
2

()

-i

()

( )
-10

27
7

3

D
()

0

()

1
2
0

-48
-44

347

D

7
10

4,067
-23
1
-3

H

-1

-21

40
4

49

1
-1

-1

268

()

1,515

n
n

-469

-133
-59

(D)

-33

0
-5
0

I

()
0
0

8

0

-12
(D)
-25

D

()

0
26
0

-4
0
0
0
0
0
0

n

-660

o

-16
0
0

85
-184
-5
0

-369

-88
3

-203
0
0
0
-203
0
0

1,061

-57

-39
(D)
-10
-15
0

0

D

Other
industries

n

O

0
0
0
0
0

0
4

-82

138
-23
3
17
0
231

0

-6
(D)
-28
13

Banking

810
53
179
0
0

149

-16
0
0
0

-115
-23
1

14
1,814

n

Wholesale
trade

-78

(*)

0
-9
0

112

n
(D)

0
(*)
0
0

()
0
0

Services

141

0
()
96

Finance
(except
banking),
insurance,
and real
estate

5,185

1,319

388

-43
-21
-28
0
0
0
0
5
0

140
0
0
0
0

1
-367

1,195

164

140
0
0
0
0

-516
104
-254

-321

n

-35
0

-251
(D)
(D)

-932

-64

n

1
-7

Other
manufacturing

-102
(D)
-6

()
-6
-7

-250

Transportation
equipment

1
12

169
4
0

(T))
0
82
(D)
-319

-40
-1

()

124

Electric
and
electronic
equipment

-62

n

n
n

n
n

57
3,822
81
(D)
-319

D

95
28
-305
142
1
119
(D)
-10
3
-1

(*)

n

-247
16

n

-574

0

()
78

()

fl
D
((*))

Machinery,
except
electrical

-15
132
0
144

()

-479

()
0
7
0
O

29
0
1

92

o
n

8

-176

-147

()
(*)
25
2
2
D

()

n

-50
0

0
161

n
388

2
745

()
-304
-25

1. See footnote 1, table 11.2.
2. See footnote 1, table 11.1.

-3
108
2

()
757
27

3
177
-14

2
564
23

()

-1,387

7
21
5

n
829

July 1993

SURVEY OF CURRENT BUSINESS

•

1U

Services

Other
industries

1,732

1,744

Table 16.1.—U.S. Direct Investment Abroad: Income, 1989
[Millions of dollars]
Manufacturing

All industries

Petroleum

Total

Food
and
kindred
products

Chemicals and
allied
products

Primary
and
fabricated
metals

Machinery,
except
electrical

Electric
and
electronic
equipment

Transportation
equipment

Other
manufacturing

Wholesale
trade

Banking

Finance
(except
banking),
insurance,
and real
estate

53,929

27,034

2,295

5,918

1,541

5,203

2,028

5,094

4,955

6,198

219

11,547

415

4,010

248

968

326

310

286

753

1,119

402

90

853

104

627

27,637

2,336

13,875

1,108

3,036

553

3,171

2,995

2,531

3,488

-126

6,611

21
(D)
(D)
(D)
41

135
581
28
3

8
29
35

o
16

155

n

5
1
40

-2
(D)
-2
(*)
480

(D)
0
0
109

107
6
6
383

71
244
83
81
312

-1
(D)
-1

1,707

6
328
4
-5
486

481
24
-11
-18
1
53

1,254

233

Europe
Austria
Belgium
Denmark
Finland
France

5,454

6,501

All countries
Canada

6
176
16
0
128

-2
59
(D)
2
67

198
3
1
1
(D)
16

2,481

159
-2
52
82
0
130

240
11
450
198
(D)
448

197
0
25
30
7
63

711
0
-36
556

102

791
0
10
20

282
7
219
228
(D)
123

507
1
394
137
85

89

67

4
(D)
122
5
31
5
679
-1

_-,
2
35
D
( )
13
(D)
125
0

1
1
(D)
(D)
53
-1
785
0

28
1
115
1

3
1
( )
(D)
0

1,169

163
110
2,163

Germany, Federal Republic of
Greece
Ireland
Italy
Luxembourg
Netherlands

3,530

56
1,286
1,408

182
3,129

738
130

Norway
Portugal
Spam
Sweden
Switzerland
Turkey
United Kingdom
Other

230
1
9
-89
2
108
681

n
10

16
772
1,169

96
999
12
46

•3

49

52
(D)

204
234
23

7,672

1,164

4,151

35

-5

(*)

102
(D)
(D)
5
297
0

1,501

275
3.805

O

1,217

n

144

O

53
55

n

69

8(D)

0
(D)
( )
D

165
12
44
193

O

241
D

1,772

(D)

190
9

-175

3,522

166

307

-90
-6

759
-3
659
85
10
1
0
5
3

53
8
29
6
2
0
-1
5
2

6
21
24
(D)
(D)
-3
-4
5
(D)

799
0
1
1
87
709

30
1

108
2

537

895

421

394

475

1,088

803

482

315
-32
261
4
48
1

473
-4
446
10
44
-2
-18
-1
-1

292
-9
228
64
7
2
3
-4

356

451
-4
452
1
(D)

832

507

57
-5
3
28
D
( )
3
(D)
8
_2

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

2,423

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

2,761

303
82
26
-131

111
122

30
15
22
1,417

929
11

63
123
2,652

147
254
-1,309

75
701
55

81
(*)
-1
2
-5
77
9
199
(D)
(D)
29
2
1

n
8
17

115
161
4
-12
70
4
1,265

25
15

n

1,159

(D)
-1
122
3
(*)
1
22
89
2
-9
13
2

O

28
5
215
9
7
7
194
1
-3

6
0

n
n
1
1
1
1
0
1
22
(*)

389
258
184

126
4

166

(D)

69

6
17

Middle East
Israel ..
Saudi Arabia
United Arab Emirates
Other ..

646
106
370
93
77

158
3
2
62
91

198
(D)

n

_c

0

Asia and Pacific
Australia
China ...
Hong Kong
India ....
Indonesia .
Japan ..
Korea, Republic of
Malaysia
New Zealand
. . .
Philippines
Singapore
.
Taiwan .
Thailand
Other ...
.

8,973
2,006

1,838

4,212

969
23
382
28
18

381
115
1
6

245
231
87
270
111
443
471
78

237
-37
45
(D)
953
96
-2
164
51
-3
134
1
(D)
31

154

o

O

n

n

425
(D)
34
1
4
45
1

1
(D)
75
1
59
5

-138

42
2
-2
(D)
-2
(D)

( )
3
-3
11
2,083

0

-1
(D)
0

0
-7
0

38
0
0
0
38
0
0

(D)
1
0
0
20
0
(D)

256
0
0
0
256
0
0

276
(D)
7
(D)
263
1

0
0
0
0
0
0
0
0
0
0

19
0

1
-9
8
0

0
0
0
0
0
0
0
0
0
0

(D)

fl
(IJ)

0
0
0
0
D
( )
0
0
0
0

2
0
_1
2
1

276
45
80
70
1
51
2
0
25
1

(D)
1

51
1

-5
1

H

5
2

23
0

31
9

16
5

fi
(D)

0
3

0
17

5
12

6
0

1

6

4

6

62

-1
-1
0
0
0

-6
(D)
(D)
0

75
(D)

23
0
(D)
5
(D)

154
(D)

253
99
(D)
1
(*)
0
143
-16
0
3
0
(D)
5
0
0

486
155
(D)
89
3
8
121
36
17
9
23
(D)
11
3

392
136

336
33

395
(D)
2

n
n

329

27
3
0

n
(D)
3
0
(*)
59

fl
(D)

o

-1
0
(D)
0
0
0
2
0

o
o
()
*
15

149
2
-1
3
79
67
-1

-8
0

0

1
(*)
-9

o

O

n

15
13
1

775
286
200
122

-56
1,282

61
1,057
2,070

.

International
Addenda:
Eastern Europe
European Communities (12)
OPEC 1
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.1.




4
50

n
0

i0
)

1,581

70
23
19
164
406
296
222
10

n
1
(D)
22
1

o

55
6
(D)
6

O

4
20

(°)
(D)
2
(D)
0
-5
836
389
1

n
16
11
192
28
7
2
54
10
89
(D)
9

fi
2

o
2
0
0
188
100
-1
(D)
1
1
27
5
2

n
4
5
(D)
8

n

0
-13

7
3
2
1
0
0
1,331

78
3
84
7

fl

-5
3
2
0
126
95
(D)
1

1

43
(D)
0
0
737
33

0

160

0
198

O

-8
3
28
249
77
-1

n

O

O

( )

16
13

1,721

463
-12
435
2
7
498
45
23
14
19
101
89
36
3

{ )

8
-249

115
16
-2
62
56
33

25

n
n
82
(D)
3

(D)
475
(D)

70
1

13
9

9

1

129
1
0

222
20

138

2

O

193

1,965

O

(

84
2
(D)
5
1
D
( )
(D)
(*)
9
-1

-78
-283

4
0
(D)
1
2
5
170
(D)

O

2,540

O
O

-1,307

-12.

Africa
Egypt..
Nigeria
South Africa
Other ..

1

-2

3,226

794
(D)
(D)

5
20
59
11
129

-255

4,613

311
1
0
0
0
(D)
0

538

D

( )
536
15

50
61
10
(D)
33
25
(D)
20
(*)

-31

n

1,250

O

2
-4
-3
-5

j0

330

2,917

18

-2
1
113
D
( )

D

9,245

43

-16
2
-2

D5

1,250

( )
32
137
48

4,061
3,505

-10
21

9
(D)
110
2
(D)

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

Latin America and Other Western Hemisphere

o

-108

( )

4
(D)

n

117
-1
-5
122
20
5
-4
24
8
7
5
3

n
0
8
(D)
D
( )
3
(D)
2
6

n
4

(D)

22
8
11
3
1

17
3
9
3
1

172
65
(D)
71
3
5
8
-3
-1
4
(D)
24
9
6
5

302
103
(D)
93
1
70
15
-2
1
4
(D)
-1
9
9
1
166

13

0

0

22390
1,835

1,542
1,228

13,264

1,043

2,992

256

29

173

o

0

o

544
2

0
2,939

9

0
429
-3

0

o

(*)

0

2,892

2,425

2,000

-190

4,467

1,113

-7

51

69

52

122

27

o

196
81

NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, income is shown
net of withholding taxes and without a current-cost adjustment

Il8

• July 1993

SURVEY OF CURRENT BUSINESS
Table 16.2.—U.S. Direct Investment Abroad: Income, 1990
[Millions of dollars]
IVIUI lUIUWlUI II IU

All industries

Petroleum

Food
and
kindred
products

Total

Chemicals and
allied
products

Primary
and
fabricated
metals

Machinery,
except
electrical

Electric
and
electronic
equipment

Transportation
equipment

Other
manufacturing

Wholesale
trade

Banking

Finance
(except
banking),
insurance,
and real
estate

Services

Other
industries

57,746

9,844

24,553

2,516

5,634

1,133

5,271

1,395

3,803

4,801

6,743

409

12,840

1,733

1,62

Canada

4,738

485

2,591

339

586

170

293

105

494

604

300

55

804

123

39

Europe

32,579

4,687

14,491

1,388

3,417

628

3,862

2,281

2,545

4,098

-411

8,095

1,384

23

304

34
43
(D)
(D)
40

166
851
50
(D)

8
70
39

1
41

471

1
(D)
38

(D)
(D)
0
0
60

(D)
87
6
6
405

116
349
103
77
547

-1

6

-4
-3
-2

369
33

-17
236
20
0
157

2
(D)
3
2
102

166

1,029

n

335
-3
427
200
90

11
(

4
176

0
8
-9
1
12

214
11
89
246

88
5

41
-10
1
76

321
1
204
(D)
38
91

9D
()

2
(c

4
1

1
14

0
(*)

14
64
118
10

All countries

Austria
Belgium
Denmark
Finland
France

1,687

181

5
568
1
-2
491

740
3
(D)
41
4
300

3,136

1,150

221
0
45
110
0
183

349
11
442
306
(D)
516

16
37

n
11

1,161

102

790
5
32
3
383
(D)

8,224

2,164

69

-17

n

135
(D)
(D)
9
279
0

87
3
27
6
580
-1

3
(*)
37
2
16
3
154
0

8,642

605

3,325

396

744

2,665

220
98
13

1,650

138
-2
65
7
56

9

348
38
247
4
57
-2
-19
24
-1

248
10
7

344
11
(D)

n

291

58

1,592
'.

Germany1
Greece
Ireland
Italy
Luxembourg
Netherlands

Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other
Latin America and Other Western Hemisphere
South America
Argentina

Brazil
Chile
Colombia
Ecuador
Peru

Venezuela
Other
Central America
Costa Rica

Guatemala
Honduras
Mexico
Panama
Other
Other Western Hemisphere
Bahamas
Barbados
,
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

234
93
2,480
4,493

68
1,426
2,067

176
4,120

815
161
1,430

315
4,410

403
1,414

336
340
28

s

150
116

21
(D)
28
27

2,973

116

41
21
-8

0

-122

1,844
1,075

1
3,003

437
165
2,054
162

6
1
9

78
22
269
(D)
23
28
4

12
835
1,527

74

287
235
29
3,242

204
1,080

84
195
7
-9
80
7
1,557
31
14
13
1,481
41

-23

0

n
n2

( )

234

fl

118

10

3
(*)

0

1
29
61

0
(*)
1
2
2

105
806
56

6
-1
(D)
10
19

n
n
14

900

514

162

406

361

6

197
163
134

180

6

8

109
42

Middle East
Israel
Saudi Arabia
United Arab Emirates
Other

1,098

500
4
10
131
355

240
(D)
(D)
0
(*)

-1

Asia and Pacific
Australia
China
Hong Kong

9,560
1,885

2,980

3,743

516
-62
36
-8

827
19
331
42
19

376
102
1
7

Africa
Egypt
Nigeria
South Africa
Other

India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore

Taiwan

168
-949

155
457
133
352

-20
1,201

78
1,890
1,719

267
468
73
228
1,021

Thailand
Other

339
357
54

International

229

Addenda:
Eastern Europe
European Communities (12)
OPEC 2
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.2.




1,756

96
—
1
308
24
(D)
142
1
(D)

38

18
(*)
2
5
11

(*)
-1

0
0

0

(D)
1

52
3
0
(*)
7
28

(D)
-11
( )

0
(D)
(*)
3
17
(D)
(D)
3
(D)
0

20
7
5
55
7
58
21
(D)

195
131
10

(D)
(*)

8

-1

3

O

n

237
148
-2
1
0
3
-1

526
0
0
0
526
0
0

303
5
(D)
(D)
300
(D)
-4

224

_3
0

980
0

18
1

1
1

1

135
84
(*)

-3

108

O
(*)
5

n
O

867

0
0
0
0
0
0
0
0
0
0

25
0

282
37
95

312
124

1,813

20
(D)
2
1

0
32
1

-1
155
( )

2
594
9

6

33

27

16

68

19

9

15
4
0

1
(*)

10
1
1

(r

(D)

4
0

0

fl
(D)
0
0
0
0

n0

0
0
()
0
44
0
0
0
44
0

0

O

0
0
0
0
0

0

0
0
0

n
0

21

53

1

1
0
46

n

8
12

2

n
2

8
()
2
3
3

31
1

35

24
6

fl

0

1
1
15

fl

69

385

0
-11
0

111
37
-2
(D)

164

3,178

181
70
18
72
3
-3
3
2
16

325
-15
303

703
368
6
(D)

74
106
17
155
602

490

118
18
30
(D)
8
4
17
26

851

79
-2
77
(D)

0
0

1,216

624

713
-5
567
32
40
(D)
(D)
66

110

D

D

4
9

o

0

7
1
1

n
0
0
1,078

50
2
56
17
(*)
543
_2
(D)
2
0
287
43
(D)
1

0

1
0
0
28

0
(D)
(D)
0
(*)
0
1

0
0
0
(D)
0
(D)
1
(*)
6

n
(D)
76
(D)
0
0
725
29

n

121

-3
107
-6
74
9
33
289
53
18
(*)

3,444
2,104

1

1,041

-16
-61
(D)

n
(
*
-6)

(D)
3
-20
6

(D)

107
(D)
66
21

4
1

577

2,501

200

n0

(D)
27
39
-4
71
15

1,597

(D)

D

-245

40
-2
-12
16
-8

2

-476

3
1
10
396

( )
(D)
(D)
-1

-140

18
586
23

848
0

-33
-5
29
2
26
(D)

D

O

486

0

-74

(c

5
24
90
11
141
(D)
160
9

9
(D)
56
(D)
74
2
959
0

0

21
9
110

2
41
6
11

0
18
27
(D)
96

854
0
76
(D)

n

( )

(

3
2

4
0
1

1

n
n
j)

-1

60
(D)
(D)
15
-2

579
152
(D)
112

1

3
0
0

fio
6
4
4

0

0

D3

204
23
16
3
23
D
( )
23
1
(D)

(D)
0
(D)

O

12

171
87
(D)
1

0
-5
0

69

0

(D)
(D)

"I

1
-1
4

0
26
7

-1
-1
0
0
0

73

1,025

1,636

281
47
501
3
(D)
386
94
28
(D)
23
126
92
37
2

D

2,553

0

-1

O
206
26
1,950
(*)

n

-975

-3

3
64

14
0

249
33

n

(°)
( 2)

()
245
-7

O

84
38

11
-190

99
17
(D)
40
85
34
(D)
30

446
44

n

91
-1
-2
227
6
9

(

(

4

9

1

0
-1

8
2

_
(c
(E
8
(
-3
10

11
1
26
1

18
(l

(D)
4
(*)
2
(D)

-3

(r
(r
_

-1
-1

7
22
3
-3
-6
28
117
48
(D)
65
3
5

_1

-14
-1
-1
4

(D)
34

(D)
24

5
3
(D)

6
7
0

71

-11
26,471
2,858

5

1
0
4

fl

197

O

-1

1

([
39
17
/[

9
(c

4
2
1
(r

15

n

0

(*)

13,762

1,275

3,379

272

6

196

0
604

n

0
3,596

7

319
^4

0

1

2,435

1
2,815

0

2,154

-533

5,545

-9

76

71

62

216

1,211
37

O

(
22
9

2. See footnote 1, table 11.1.
NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, income is shown
net of withholding taxes and without a current-cost adjustment.

SURVEY OF CURRENT BUSINESS

July 1993

Table 16.3.—U.S. Direct Investment Abroad: Income, 1991
[Millions of dollars]
Manufacturing

All industries

Food
and
kindred
products

Chemicals and
allied
products

Transportation
equipment

Other
manufacturing

Wholesale
trade

Banking

Finance
(except
banking),
insurance,
and real
estate

Services

Other
industries

10,012

19,932

2,751

5,916

665

2,853

978

2,810

3,959

5,833

332

11,601

1,563

1,880

-108

1,618

370

216

17

172

29

594

220

172

-7

809

168

268

27,215

4,439

11,595

1,345

4,169

1,706

2,326

3,521

-526

6,808

1,169

3
43
50

4
881

244
48
-17
-6

1,282

170

524
(*)
23
6
2
50

(D)
111
0
0
34

(D)
48
(D)
(*)
321

62
211
91

3

(D)
184
18
0
140

1
99
(D)
1
(D)

208
3

193

390

(D)
0

22
15
7
56

-16

467
5
188
230

355
3
572
139
77

S

O

5
1
127

293
1,674

211
17
2,085
4 761

47
1,540
2,267

197
.

.

.

.

3,390

957
139

Norway .
.
..
Portuqal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

1,240

123
3,211

(°)
49
(D)
(D)
(D)
819
4

1,083

55
9
1,307

618
317
13
587
431
380

(D)
6
308

1,465

296
-2
52
36

92
829

104

919
5
22
-2
25

8
6
971
73
210
54

3,209

17
853

(°)
4

o
218

o

0

1
88
15

(*)
15
127
-1
30
2
695

4,951

1,793

63

-36

17

(D)
354
1

8,860

766

3,256

650

828

2,470

373
202
-13
(D)
82
25
(D)
30
34

1,272

273
47
110
(D)
72
2
(D)
26
8

379
37
282
17
44
-3
-11
14
-1

139
(*)

1,915

370
9
6
(D)
353

404
(D)
1
(*)
342
(D)
1

52

Latin America and Other Western Hemisphere
'

„

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other
Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other
Africa
Egypt
Nigeria
South Africa
Other

509
947
319
300
29
-21
275
110
3,351

27
8
_7
2,283
1,024

16
3,040

301
241
1,870

171
131
-901

130
1,075

21
1,160

323
671
159
8

O

17
100
26
254
53
22

1,165

223
659
15
206
9
-17
170
7

29
11
13
1,822

52
-12

h

n
8
0
(*)

45
4
0

n

fl

13
18

68
4
(*)
1
30
7
2
1
21
3

854
285
646
(D)
(D)

145
4
17
98
26

33

s

(D)
-7
1
20
(D)
D

D5
( )

5

n

2
1
1
0
2

11

Middle East
Israel
Saudi Arabia
United Arab Emirates
Other

1,026

140
475
140
270

366
5
13
106
242

227
(D)
(D)
0

o
D
n
0

n

0

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other

9,550

3,525

3,091

774
5

565
-36
99
(D)

620
11
313
34
18
968
-83
65

353
86
(D)
(D)

International
Addenda:
Eastern Europe
European Communities (12)
OPEC 2
* Less than $500,000 (±)
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11.2.




Electric
and
electronic
equipment

2,920

Europe
Austria
Belgium
Denmark
Finland
France

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

Total

Machinery,
except
electrical

51,152

All countries
Canada

Germany l
Greece
Ireland
Italy
Luxembourg
Netherlands

Petroleum

Primary
and
fabricated
metals

1,505

58
1,767
2,551

68
457
125
217

1,624

459
-1
319
60

n

389
408
9

235
4
(D)
-26

421

O

171
695
213
62
6

n
1
152
34
1
-4
67
4
8
7
(*)

18
1
1
(D)
0

o

n

28
2

-2
-6
-3
3
24

o
1

O

42
(D)
1
20

2
30

16
23
-1
(D)

17

-138

20

H

-209

98
0

M
D
(3)
-1
8

n
44
(D)
0
(*)
40
(D)

i
(D)

R
l

3
1
24

7
6

(D)
14
-5
(*)
30
164
_2
41
32

336

5
31
12

3
38
35
20
118

o

29

12

214
9

1,682

0

993

887

782

807

2,812

-21

459

546
-30
473
(D)
45
3

164
4
32
30
21
3
22
48
5

145
11
73
35
4
-6
3
4
21

414
32
151
222
-2

26
9
-1
8
(D)
0
(D)
9
3

74
28
45

674
0
0
0
674
0
0

311
8
4
(D)
301
2
(D)

258
-3
-1
2
163
96

-19
0
-1
1
(D)
(D)

892
0
1
3
118
769

n

n

n

O

D

( )
0
(*)
0
(D)
0
0
0
2
0

0
0
0
0
0
0
0
0
0
0

30
0
(*)
(*)
24

681
147
(D)
0
8

0
-1
(D)
1

359
35
165
128
(*)
56
3
0
-28
(*)

525
(*)

(D)
2
(D)
5
2

10
7
0
3

34
0
(D)
27

n

n

(D)
11
7
(D)
7

(D)
9
-1
0
(D)

D

0
39
6

()
7
(D)
0
0

3
1
2
0
0

1
1
(*)
0
0

(D)
85

552
193
4
11
16
6
152
-25
11
8
61
-6
91
24
5

104
29
-2
(D)
1
1
22
9
2

1,067

592
30

O

1
0
405
40
(D)
1

66
2
46
14

n
n
14

452

n
0
0

n

176
-1
(D)
70
-36
11
2
21
286
42
-10
(D)

._•!

-1
0
0
0
-68
44
(D)
1

o
0
-44
(D)
0
(D)
0
4
2
0
0

58

O

( )

-1
(D)
(D)
0

n
493
171
6
47
3
(D)
163
21
26
(D)
18
2
23
1
(D)

s

O
0
8
3

1,507

55
21
1,686

O

n

-776

2
515
2

19
1

O

0

6
(D)
-1

n
-2
(D)
6
37
146
(*)

n

h

-25
169

V

1

n
2

-66
2
(D)
3
-1
(D)

238
5
0
48
(D)

( )

2
25

n

n

4
(D)
3
-3

3
54

0
(*)

52
1
0
3
48

( )
(D)
4
21
2

D

()

275
37

(*)
-16

n

29
2
5
1
21

54
3
25
D
( )
(D)

1,300
-268

4
-340

837
55

204
42
(D)
51
3
(D)
86

590
101

(D)
530
(D)
(D)
642
59
39
-62
27
142
96
47
6

1
232
55
18
-182

98
(D)
(D)
-16
49
34
32
28

59
1

o

n

154
-1

n

500
-2
13
-5
(D)
73
14
(D)
5

13
12
1

O

-1
(D)
(D)
23
9
8
0

171

1,217

1
(D)

2,106

42
1
0
0
41
0
(*)

O

40

-767

1,134

0

46

98

n
(bj

-5
389
23

53

71
0
0
0
71
0
0

(*)
1

108

1,468

P
n0

(*)
0
0
0

3
-36
2
4
1

74

n
n
11

0
_5
11
1
1
51
10

* c

741
(*)

28
56
22
10

-50

{°)

-369

0
0
0
0
0
0
(*)
0
0

3

o

396
256
7
46
348
(*)
453

-6
-1
-62

318
-1
207
(D)
(D)
3
0
54
0

0
0
0
0
(D)
0
0
0
0

s

156

-4

15
-1
124
(*)

8

-19
1

7

n
n

127

85
79
-3
(D)
153
(D)
1
20
(D)
-9
250

-35

-40

/D\

22,500
3,322

3,459
2,373

11,053

1,241

4,102

348

46

150

1

O

0
496
13

o

1,610

9

(D)
216
4

0

3

9

(*)

1

1,144

2,244

2,276

-628

5,099

1,040

201

57

68

96

79

n

42

n

(*)

2. See footnote 1, table 11.1.
NOTE—In this table, unlike in the international transactions accounts, as revised in June 1993, income is shown
net of withholding taxes and without a current-cost adjustment.

SURVEY OF CURRENT BUSINESS

120 • July 1993

Table 16.4.—U.S. Direct Investment Abroad: Income, 1992
[Millions of dollars]
Manufacturing

All industries

All countries
Canada
Europe
Austria
Belgium
Denmark
Finland
France
Germany1
Greece
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other

Petroleum

Total

Food
and
kindred
products

Chemicals and
allied
products

Primary
and
fabricated
metals

Machinery,
except
electrical

Electric
and
electronic
equipment

Transportation
equipment

Other
manufacturing

Wholesale
trade

Banking

Finance
(except
banking),
insurance,
and real
estate

Services

Other
industries

50,708

7,941

20,251

3,117

6,061

767

1,359

1,804

2,995

4,147

6,570

2,323

10,604

1,184

1,836

2,933

374

1,361

322

407

100

21

43

216

252

211

-93

853

107

120

21,637

2,233

9,985

1,367

346

3 447

1,934

1,386

352

6
17
10
11
235

44
111
65
8
459

734
_3
86
-14
1
103

82
-1

lDi
—5
2

201
565
23
23

-33
_2

5,190

-36
30

1,473
' lD)

2,134

163

4
423
3
7
632

414

349

7
26
13

3,902

3148

420

1 768

227
2
48
46

233
11
692
502

398
6
180

298
16
103
188

124
759

115

453

P

P

3
12
12
2

11
420

-31
42
16
764
15

1
31
-38
44

(D)
52
0

-349

1,000

129
42

20

90
1,864
1,770

190
2,562

650
141
876
-25
2438

40
3
176
609
5
2
g
89

158

1,019
1,407

-13
782
-69
255
96
1 643

17

914
-54

4 491

P

o

12
20
8

-5

P

17
1
36
140
0
25
21
g
44

6
_3
3
7

ID)

\ 1

80

o
o

1
44

79

-52

162

658

g

69
-24
(*)
-96

_3
-19
2

-8

o

o

2

P

P

-4

o

(D\

(J
D

P

172

(D)

P
5

5

6
78
-36
14
948

(D)

51
-6
28
(*)
90

650

P

-27
-1

47
_g
67

_2
_2
-29
132
29

5
19
7
32
162

-39
131
25

P

27

(D)

13

708
148
53
858

64
11
22
69

91
0
1
-87

175

-63

22
3

-4
36
18
91

(*)
-41
-3
6

375

97
23

6
952
0

-640

1,906

-1.1

486
9

46

7

83
8

98
6

692

P

12,302

696

4,743

852

1,119

111

-83

286

1,337

1,120

923

1,503

3,669

107

661

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other

4,618

2,787

484
86
267
(D)
64
(D)
-1
39
9

657
97
406
10
54
-2
-6
98
-1

88
(D)
86
-19
(D)
2
-7
3

-41
(D)

243
13
223
2
6

628
1
406

727
31
559
13
40
3
4
78

158
12
46
29
23
6
-3
39
7

429
43
339
17
(D)

686
32
474
131
(D)
0
0
33
D
( )

30
11

370
335
48
8
485
78

362
130
25
(D)
78
38
(D)
33
21

165
6
38
92
-1
-4
(D)

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other

3,711

99

1,976

134
16
-15

2
(D)

P

43
15
15

434
(D)

2,503
1,041

n
42

1,856

362
(D)
10
(D)
317
1

32

24

3,973

235
(D)
14
-28
(D)
5
(D)

Latin America and Other Western Hemisphere

Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other

530
2,764

721
271
1,946

210
115
-469

160
989
31

Africa
Egypt ...
Nigeria .
South Ainca
Other ...

1,138

Middle East
Israel ...
Saudi Arabia
United Arab Emirates
Other ...

1,063

Asia and Pacific
Australia
China ...
Hong Kong
India ....
Indonesia
Japan ..
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan .
Thailand
Other ...
International
Addenda:
Eastern Europe
European Communities (12)
OPEC 2
* Less than $500,000 (±).
° Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 11 i .




326
622
154
36
234
261
260
307
11,351
2,167

-39
1,898

66
1,473
2,043

297
1,841

71
204
8
-11
367
8

42
4
-20
-A

fl
50

n
2

19

-5
-57
6

724
276
577
(D)
(D)

177
3
32
92
50

480
4
25
217
233

243
168
74
0

1 )
1

(D)

3,321 •

794
-95
89
-10
1,304

401
423
65

368
4
(D)
66
(D)
166
5
247
-2

284

P
3,742

704
3
609
30
18
718
20
167
15
251
976
192
36
3

P
6
0
(*)

P

1

P

2
1
0
2

42
3
(D)
3
3

P

0
0

530
145
1
(D)

P

n
218

P
P

n
(D)
4
0
1

-106

P

0
0
0
(D)

o
(D)
0
0
0
(D)
0
0

B
n
0

41
1
0
0
40
0

(D)
2
0
142
0

339
(D)
-1
4
158
(D)
1

-6
0
-1
1
(D)
(D)

1,020

P

344
11
6
(D)
332
(D)
1

2
0
(*)
0
1
0
0
0
2
0

0
0
0
0
0
0
0
0
0
0

49
0

426
18
226
99
-1
45
3
0
35

1,080

1,963

613
2
0
3

44
19

6
1

46
0
1
30
15

36
12
8
8
8

12
9
4
0
-1

73
1

11
10
1
0

37
(*)
7
27
2

16
0
(D)
1
(D)

156
41
(D)

1,918

918
176
-1
246
41
22
-30
115
33
6
28
158
27
50
47

663
127

n

29
-4
0
-7
(D)
16
1
-5
(D)
0

(D)

23
-5
(D)
18
(D)

26
2

26

P

0
19
7

P

8
5
0
2
1

75

10
(D)
(D)
0
0

1
1

143
143
(*)

P
P

n
n
0
0
535
203
-6
22
18
-1
39
-12
14
8
102

0
0
0
0
(D)
0
0
0
0

16
7

106
28
-1
(D)
3
1
13
2
(D)
1
6
2
3

(D)
0
0
0
0
0
0

fl
0

P

3
1

o

0

0

1,045

980
26
7
431
-1
2
31
22
98
3
15
281
47
17

45
(D)
35
10
2
311
-2
(D)

( )
16

709
0
0
0
709
0
0

379
(D)
1

2

n

P

0
0
0

-38
56
(D)
1
( )

0
-55
-60
0

1
0
-1
2
4

O
584
201
4
83
D
tD)
()

n

122
(D)
593
1
11
763
14
(D)
-13
30
96
147
59
6

P

P
P
P

454
8

0
1
4
162
854

n
1,822

n
1
-471

3
543
1

P

4
68

( )

(D)

P

176

fl
1
0
-2
8
(D)
51
1

P
P

1,457

35
1
-5
98
3
7
16

P

n

105
39
3

n
-1

P

0
669
13
(D)
1

P

P

0
4
3
0
0

161
34
14
7
30
16
14
9

285
4
2

26
1
9
21
4
(D)
(D)
(*)
0

0

264
(D)
0
(D)
rD
)
(
7
(D]
(D)
-3

29
22
1
(*)
5

87
2
0
D
(D]
( )

92
(D)
4
2
(D)
116
35
(D)
39
4

fl 3

P

168
4
66
D6

25
34
13
8

18

232
(D)

40
10
1

113

143
682
209
364

( )

-1

(
]
D

()
21
8
10
0

40

(Dl

2
C
(D!
1

674
209
2
145
0
(D)
57
-13
3
126
(D)
15
-11
8
2
171

-62

-41

-27

6

7

18194
3,227

1628
2,185

9483

1282

3 845

499

70

163

o

356
15

-4
350
11

SI1

/D\

1 333
'144

-11

/D\

11

1

2 050

2419

-209

4241

95

99

58

140

1
640
103

_j

143

2. See footnote 1, table 11.1.
NOTE—In this table, unlike in the international transactions accounts, as revised in June 1
net of withholding taxes and without a current-cost adjustment.

13, income is shown

SURVEY OF CURRENT BUSINESS

July 1993

•

121

Table 17.—U.S. Direct Investment Abroad: Country Detail for Selected Items
[Millions of dollars]
Direct investment position on a historicalcost basis
1989

1992

426,958

460,955

486,670

63,948

69,106

68,853

189,467

Europe
Austria
Belgium
Denmark
Finland
France

1991

381,781

All countries
Canada

1990

213,368
1,136
9,413
1,724

233,245
1,258
10,607
1,813

962
7,710

n
n

68,432
239,389
1,365
10,771
1,707

1990

1991

1992

1989

1990

1991

1992

37,604

27,705

32,098

37,122

53,929

57,746

51,152

50,708

1,164

3,257

6,501

4,738

2,920

2,933

27,637

32,579

27,215

21,637

1,268

3,471

23,679

8,544

18,928

13,409

33
669

50
691
(D)

120
1,353

84
614
133
73

n

187

233

304

293

163

1,169

1,592

1,674

1,000

163
110

234
93

211
17

129
42

530

359

322

18,950

20,798

23,257

1,584

n

1,053

--87
2,092

2,836

2,163

2,480

2,085

1,934

23,673

27,480

34,027

4,493

4,761

3,148

(°)

35,393

2,522

1,464

6,133

1,571

3,530

210

293

363

429

1,657

1,152
-142
-2,401

1,540

1,286
1,408

1,426
2,067

1,540
2,267

1,864
1,770

-23

77
745
922
99

90

7,229
13,605
1,863
19,114

31
975

47

6,635
14,775
1,782
19,772

50
757

68

5,725
14,076
1,683
18,720

-80
793

56

4,665
11,221
1,560
19,160

182

176

197

190

1,555

-2,355

3,129

4,120

3,390

2,562

3,447

Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Other
Azerbaijan2
Croatia3
Cyprus
Czechoslovakia
Gibraltar
Greenland
Hungary
Iceland
Kazakhstan2
Liechtenstein
Malta
Poland
Romania
Russia 2
Serbia 3
Slovenia 3
Union of Soviet Socialist Republics4
Yugoslavia5

4,209

65
3,112

72,343

n

974

78,072
1,244

77,842
1,721

26

40

0

n
4
D

P2

( )
19

119
26

342
(D)
0
-2

362

/D\

0

39
D

()

q
243

24
117
(D)
3
336

31

30
(D)

349

295

n
3

n
32

-1

6

£

19
16

315

123

4,410

3,211

2,438

49

102

52

158

3,359

3,545

7,672

8,224

4,951

4,491

287

406

35

69

63

3
0
(D)
-5

3
0
(D)
-2
2
6

8
-1
(D)

40
1
0
1

32

-39

-629

67,722

D

()

1
0
(D)
-7
(D)
2
3

D

()
7

0
(D)
-2
141
6

n
0

P1

2

1

957
139
1,240

275

11,825

705

815
161
1,430

3,805

142

529

738
130
1,501

165

5,284

93

515

165
1,359

120

1,269

106
192
-16
125
897
102

343

892

2,997

-43
[D)
391
248

4,047
1,160
8,165
2,033
28,662

n

650
141
876
-25

979
_4

7,802
1,754
25,151

4,349
1,026
7,992
2,242
25,604

-1,029

6,500
1,297
21,144

io
D

(D)
()
0

129
5

-7
(D)
29
6

-147

o

-18
110
(D)

0

93

P

-47
(D)
171
9

2
35

0

0
2

0

2
4

0
(*)
3

_c
(D)
_.j

_3

1

17

/D\

0
9
-14
(D)

o

-9

P
29
(D)
-4
5
-7
(D)

4
3

2

3

0

-14
2

88,860

9,094

9,510

6,870

13,673

9,245

8,642

8,860

12,302

24,082
2,767
14,882
1,916
1,627

27,185
3,353
16,114
2,446
2,077

3,404

1,712

2,695

4,061

4,061

2,665

2,470

4,618

59

278
594

296
522

310
466

388
845
41
22
28
-46

1,063

1,424

1,725

478
195
4
7
44
134
94

648
240
(D)

46
146
183

694
189
(D)
(D)
50
128
259

32
10
61
2
-1
-6
-25
-21

327
772
500
47
-34
-89
152
36
18
2
7
2
17
-9

509
947
319
300
29
-21
275
110
26
2
5
3
35
38

17,846

20,259

23,309

25,478

1,299

213
111
251

239
129
225

214
105
212

221
107
184

8,264
8,913

10,255
9,257

12,257
10,427

94
11
67
16

153
(D)
75
(D)

94
12
67
15

22,493
4,577

27,810
3,944

141

4
4

{ )

62,145

70,752

76,214

South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuefa
Other
Bolivia
French Guiana
Guyana
Paraguay
Sunname
Uruguay

21,806
2,215
14,025
1,412
1,660

22,682
2,479
14,268
1,876
1,647

301
813
932
448
184
2
3
42
116
101

Central America
Costa Rica
Guatemala
Honduras
Mexico
Panama
Other
Belize
El Salvador
Nicaragua
Other Western Hemisphere
Bahamas
Barbados
Bermuda
Dominican Republic
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other
Antigua and Barbuda
Aruba
Cuba
Dominica
French Islands, Canbbean
Grenada
Haiti
St Kitts and Nevis
St Lucia
St Vincent

Latin America and Other Western Hemisphere




1989

16,443

Germany l
Greece
Ireland
Italy
Luxembourg
Netherlands

Africa
Egypt
Nigeria
South Africa
Other
Algeria
Angola
Botswana
Burkina
Cameroon
Chad
Conoo

Income

Capital outflows (inflows (-))

6

9

H

586

43

403

2,484

3,505

1,414

303
82
26

336
340
28

-131

-122

(D)
2
11
90

196
182
33
-7
437
151
-4
(D)
(D)
2
39
82

2,455

2,785

1,824

2,423

2,973

3,351

3,711

31
14
11

31
10
-34

-40
-18
-8

38
4
-36

30
15
22

41
21
-8

27
8
-7

134
16
-15

13,330
11,457

1,652
-430

1,868

2,305

1,261

1,417

581
-34
2
-3
-32

541
16
(D)
8
(D)

929
11

2,283
1,024

2,503
1,041

21
2
14
5

581
-1
(D)
6
(D)

1,844
1,075

180
(D)
75
(D)

1

n
15

-5

(D)

16
1
21
-6

32
1
23
8

28,822
3,768

36,196
4,566

4,392

5,342

7,788

2,761

3,003

3,040

3,973

247

319

507

-61
-37

-65
106

1,391
-294

74

514
177

63
123

437
165

301
241

721
271

18,297

20,084

23,059

25,799

-502

3,039

3,217

2,652

2,054

1,870

1,946

(D)
383

479
612

572
729

744
850

(D)
277

103
130

200
124

147
254

162
168

171
131

210
115

-901

-469

130

160
989
31
1

( )

3,014

583
-152

-41
-102

3,814

1,335
/D\
271
3,852

(D)

487

507

575

6,123

5,919

5,112

5,024

817

-373

427
2

573

454
4

70
5

-116

144
1

(D)

(D)

(D)

(D)

n
94

n
104

0
11

26
2

(D)
(*)
80
1
32
1

1
18
1

2
29

(*)
5

(*)

1

1

3,936
1,541

3,592
1,226
-407

4,442
1,239

-8,378

0
68
0

-4,534

-5,697

-1,939

P2

-554

-214
-375

611
857

922
274
871

1,739

2,006

1,734

1,451

^6

1

6

49

(D)
2
.

...

.

(D)
2

-126

2

-101
2
261

40

(D)
21

24
-25

26
P)

.. .

P
(*)

3,518

767

-42
699

-2

42
-7
-1

(D)

n
n
12
n
5
n

178
52

/D\

-1,309

-949

66
-100
-379

75
701
55

105
806
56
1

1

1

( )

( )

(*)
13
(*)
-16
-1

0
11

n
(8
*
)

n
9

0
5
0

p1

104
-10
916
107

-1,045
-327
-412

-909

-424
43
(D)

5
1

n
-12

n
16

/D\

3,967

-504
-297
-429

P

0
(D)
(D)

150
116
25
2
-2
3

-5

-937

(*)

70
152
-6

111
122
10
1

-609
-110

0

(D)

P
16

1,238

P

-13
-46

118

24

-fi
-6

P

1,075

21
1

(D)

(D)

0
12

0
13

n
4

n
1

-1
8

0

530
2,764

370
335
48
8
485
78
13
2
11
4
12
37

(D)
(*)
13

n
3
n

n

0

n

1

775
286
200
122
166

900
406
197
163
134

1,160

1,138

326
622
154
36

P)
3
P
D
w

Pi
10
P

323
671
159
8
1

d

3

P)

n

n

34

41
-21

122

July 1993

SURVEY OF CURRENT BUSINESS
Table 17.—U.S. Direct Investment Abroad: Country Detail for Selected Items—Continued
[Millions of dollars]
Direct investment position on a historicalcost basis
1989

Djibouti
Equatorial Guinea
Ethiopia
Gabon
Ghana
Guinea
Ivory Coast
Kenya
Lesotho
Liberia
Libya
Madagascar
Malawi
Mali
Mauritania
Mauritius
Morocco
Niger
Rwanda
Senegal
Sierra Leone
Somalia
Sudan
Swaziland
Tanzania
Togo
Tunisia
Uganda
Zaire
Zambia
Zimbabwe
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Bahrain
Iran
Jordan
Kuwait
Lebanon
Oman
Qatar
Syria
Yemen 6
Yemen (Aden) 7
I viiiv/ii

yr I U V i tj

Asia and Pacific
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other
Bangladesh
Biunei
Burma
Federated States of Micronesia
Fiji
French Islands, Indian Ocean
French Islands, Pacific
Macau
Marshall Islands
Pakistan
Palau
Papua New Guinea
Sn Lanka
Tonga
United Kingdom Islands, Pacific
Vanuatu
Western Samoa
International
Eastern Europe
European Communities (12)
OPEC 8

1990

n
0

2
93
122
(D)
47
133

2
360
115
(D)
49
96
1
222
235

(7

262
221
5
-2
2
2
3
35
2

(7

4

-2

4,007

480
1,287
-124

( )

933
1,772

404
899

-4
(D)

-139

(7
8

r!

5,814
1,543
2,503

1,179

3,518

4
5
(D)
6
46
6
32
28
91

()
3
76
3
2
13
(D)
(D)
-10
(D)
(D)
4
33
7
28
44
105

3
57
3
2
19
(D)

10
4
(D)
4
42
6
26
31
92

391
644
-65
(D)

(7
3

466

19
3
9
4
38
5
60
27
77
827

-4
3
244
113
(D)
(D)
88
2
201
269
(D)
D

n
-A

1,655

(D)

4,823
1,014
2,163

1
16
(D)
4

Pi

(7

(

D

)

1

1990

(D)
0

(7

-55
-4
(D)
11
17
i

17
1
-3
-3
1

(7

1
11

(7
(7
1

(D)
5
-7
1

(7

-1
7
1
-8
1
11
-473

-33
56
-99
-399

15
(D)

£!
n

75
7
(D)
(D)
2

2
(D)
(D)

13
(D)
500

11
(D)
651

55,805
14,368

63,585
14,997

71,047
15,795

78,163
16,697

4,375
1,997

436

356

431

469

5,412

5,994

6,516

8,544

n

368

410

479

2,771
19,911
2,370
1,263
1,062
1,107
2,998
1,968
1,511

3,175
22,511
2,677
1,513
3,099
1,355
3,183
2,214
1,789

3,783
24,938
2,862
1,711
2,916
1,377
5,294
2,626
2,038

4,278
26,213
2,779
1,714
3,008
1,565
6,631
2,870
2,459

100
465
(D)
-65
299

(D)
6
17

356
7
26

350
(D)
33
55

458
(D)
42
42

n
1

n
1

6
27
(D)
3
187
4
-33
7
4
-1

10
37
(D)
4
245
5
-4
9

(7
1

0
1

81

/D\

n
n
1

8
7

(D)
(D)
2

332

50
162
49
165
177
384
(D)

(7

10
(D)
(D)

1992

1991

(D)

0
1
261
-4
(D)
-5
-19

(7
13
-4
1
1
-5

(7
(7
(7
-1
12

(D)
0
1
-54
17
(D)
-634

(7
(7

(7

10
-3
17

-7
5

-4
(D)
(D)
6,223

678
32
265
(D)
659
844
312
222

(7

660
94
204
50
312
131
(D)

(7

(7

(7

(7

8
1

(7

—
6
(D)
D
( )
-16
(D)
(D)
-1
-33
1
-8
8
23
1,085

497
353
74
161
-34
(D)

R 8
fl fl
11

-3

(°)
79

120

6
-6

1992

(7

0
1
-4
-5
(D)

(7
10
(7

3
-4
1
6
3
(D)
2
17

(7

38
-7
-A

13
-2
-4

-15
-5
(D)

(7
1

(7

(7
1

(°;
r;

-5

-5

-5

_5

(7
(7
(7

(7
(7
(7
-2

(7

15
1

(7

(7

16

(7
(7

2
(D)
D
( )
-19

1
(D)
D
( )
-12

(7
(7
1
(7

(7

1
14

(7

1
2
1
22

(7

14

fi

_7
1
1
1
-20
1
15
-2
11

(*]

16

(D)
(D)
-12

r
r
-30
1
11
9
20

13

15

646
106
370
93
77
-18

1,098

1,026

1,063

155
457
133
352
-27
1
2

140
475
140
270
17
1
2

234
261
260
307
55
1
1

?!

n
_3

(7
( )
-5
12
-3
34
32
-9

P)

-2
50
252

11
107
152
9,550

91
50
11,351
2,167

4,390
1,071

6,560
1,335

8,973
2,006

9,560
1,885

54
420
73
608
244

44

-56

-20

774
5

1,856

1,282

1,201

1,505

52
656
867

61

78

58

66

1,057
2,070

1,890
1,719

1,767
2,551

267
468
73
228

68
457
125
217

1,473
2,043
143

1,021

1,217

1,457

339
357
54
2
21
6

389
408
9
3
22
(D)
(D)

401
423
65
4
26
(D)
(D)

(7

(7

(7

194

-140

185
-27

55
138
-17

1,127

1,097

429
242
12
(D)
5
50
(D)

154
367
96
(D)
7
-13
(D)

245
231
87
270
727
443
471
78
2
18
-1
6

(7
(7
4

(7

(7

1,962

-243

177
481
209
315
(D)
1
7
(D)

n
(7

2
0
1
-47

(7

1
-36
4
11
563
25
366
9
164
-73
-99
-6

1
0
1
-40
25
(D)
1
-4

(7
()
(7

8
1

1991

1990

-4
1
-60
-21
(D)
(D)

(D)

1
1
D
( )
2

(7
4

-10
1
(D)

1989

-29
-3
4
-1

-1
(D)
(D)
-6
1
(D)
1
-37

n

Income

(7

-39
1,898

682
209
364

(7
1

1
6
21
13
2
184
3
43
12
4
-1
1
1

2,962

2,548

2,331

2,496

216

-102

-19

183

154

229

421

284

(D)

127

306

780

(D)

(D)

181

397

13

-11

-35

-62

160,988
6,217

179,101
6,947

197,661
9,398

200,535
10,255

23,297
-535

2,666
1,079

17,378
2,998

9,710
1,165

22,390
1,835

26,471
2,858

22,500
3,322

18,194
3,227

3
9
13
2
177
2
54
10
2
-1

* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. For 1989, this line includes only the Federal Republic of Germany. Beginning in 1990, it also includes the
former German Democratic Republic (GDR). This change has no effect on the data because there were no affiliates
of U.S. companies in the former GDR in these years.
2. Prior to 1992, data were included in the Union of Soviet Socialist Republics.
3. Prior to 1992, data were included in Yugoslavia.




(D)
0
3
334
133
(D)
21
99
1
193
232

-1
3
-3
3
49
2
1
19

1989

1992

1991

n
0

Capital outflows (inflows (-))

4.
5.
6.
7.
8.

4
-1

(7
(7

2
1

(7

25
1
162

(7
(7
(7

(7
(7

2
11
1
•\

-7
1
-11
1
2

(7

1

(7

(D)
1
-15
1
—3
4
1

(7
(7
(7
(7

4
11
(D)

(7

49
1
28
1

(7
4
1
1
39
1
4
2

(7
(7
0
(7

n
(7
(7
(7

1
4
1
1
63
1
-51
3
1

(7
(7
(7

1
7
1
1
14
1
-30
3

(7
(7
2

(7

1
8

(7
(7

46
1
2
2
1

(7

0

(7

Prior to 1992, included data for Azerbaijan, Kazakhstan, and Russia.
Prior to 1992, included data for Croatia, Serbia, and Slovenia.
Prior to 1990, Yemen included only Yemen (Sanaa). Beginning in 1990, it also includes Yemen (Aden).
Beginning in 1990, data are included in Yemen.
See footnote 1, table 11.1.

NOTE.—In this table, unlike in the international transactions accounts, as revised in June 1993, income and capital
outflows are shown without a current-cost adjustment, and income is shown net of withholding taxes.

July 1993 • 123

SURVEY OF CURRENT BUSINESS
Table 18.—U.S. Direct Investment Abroad: Industry Detail for Selected Items
[Millions of dollars]
Direct investment position on a historicalcost basis

All industries

Manufacturing ..
Food and kindred products
Grain mill and bakery products
Grain mill products
Bakery products
Other ,
Meat products
Dairy products
Preserved fruits and vegetables
Other food and kindred products

1990

1991

1992

1989

1990

1991

1992

37,604

27,705

32,098

37,122

53,929

57,746

51,152

50,708

-7,113
-3,319
-3,356
36
-3,101
-3,769
649
19
-899
207
82
73
16
36

3,955
1,295
1,711
-416
1,686
1,118

1,387
1,828
1,630
198
-587
-850

559

230

197
603
283
260

5,454
3,329
3,369
^0
1,144

9,844
6,677
6,663
14
1,590
1,096

8
974
()
*
150
-213
29
33

33
-30
176
7
1
32
22
51

60
-317
39
-64
-64
13
153

40
761
219

18
90

10,012
6,604
6,455
149
1,956
910
1,005
4
1
1,124
328
112
62
16
138

7,941
5,491
5,358
134
1,307
852
402
54
926
216
16
50
18
131

187,276

17,201

14,890

13,040

15,784

27,034

24,553

19,932

20,251

-169
-2,261
343
-2,604
870
1,221
124
52
415
630

5,937
820
360
460
-176
5,293

2,149
411

2,358

2,295

2,516

2,751

71
9

574
410

61
5
535
116
657
1,208

875
1,275

68
53
270

-94
146

164
705
1,016
21
105

590

275
615

64
135
178
832

6
167
370
732

3,117
626
544
83
1,408
1,083
29
95
357
602

Chemicals and allied products,
industrial chemicals and synthetics
Drugs
Soap, cleaners, and toilet goods
Agricultural chemicals
Chemical products, nee

5,077
1,583
1,598

5,918
2,505
1,783

5,634
2,145
1,842

5,916
1,340
2,789

728
197
972

708
123
798

767
98
782

203
601

Primary and fabricated metals
Primary metal industries
Ferrous
Nonferrous
Fabricated metal products
Metal cans, forgings, and stampings
Cutlery, hand tools, and screw products
Heating and plumbing equipment and structural metal products .
Fabricated metal products, nee, ordnance, and services

750
270
-16
286
480
56

1,541
458
17
441
1,084

1,133
188

-63

1990

1991

1992

381,781

426,958

460,955

486,670

48,325
25,311
23,126
2,186
15,765
10,721
4,873
11
7
5,442
1,806
915
444
184
263

52,812
26,397
24,679
1,718
17,773
11,702
5,897
174
6,904
1,738
943
257
223
315

55,893
29,155
27,350
1,806
17,694
11,366
6,143
185
7,268
1,775
906
266
232
371

55,207
28,594
26,548
2,046
17,700
11,129
6,310
261
7,045
1,868
878
242
241
508

147,944

167,993

180,463

11,890
3,235
2,639
596
2,532
6,122

15,331
4,148
3,167

16,997
4,383
3,636

349
400
1,726
3,648
33,563
15,580
8,221
4,741

937
4,083
8,175
2,091

375
1,715
6,084
1,395
1,183

765
2,740

980

747

3,117
8,066
501
461
2,224
4,881

4,397
8,217

2,522
4,833

18,411
4,949
3,954
995
5,247
8,216
304
581
2,212
5,118

37,348
16,958
9,212
5,903
899
4,376

40,712
18,083
11,345
5,702
1,083
4,499

43,821
18,910
12,718
5,963
1,164
5,065

4,341
1,782
1,530

10,474
3,034
449
2,585
7,440
1,859
1,404
891
3,286

9,819
2,892
394
2,499
6,927
1,288
1,568
3,313

10,109
3,127
369
2,758
6,982
1,136
1,695
833
3,317

31,642
88
3,294
22,925
5,336
880
585
1,041
1,227
1,039
564

29,174
174
3,154
20,422
5,423
785
554
1,200
1,355
1,064
466

297
565

758

-30
142

15
2
359

1,489
223

1,835
781
3
1
751
1,054
260
178
3
1
585

-454
-99

1,200
131
396
638
35
3
24
114
-208
25
77

1,219
-86
190
1,259
-144
51
-326

112
,1

5
218
1,266

21
7
563
37
394

Electric and electronic equipment
Household appliances
Radio, television, and communication equipment
Electronic components and accessories
Electrical machinery, nee

13,303
1,656
2,457
6,257
2,932

15,518
1,727
3,019
7,552
3,220

16,461
1,785
3,242
8,176
3,257

17,001
1,812
3,827
8,293
3,070

2,917

Transportation equipment
Motor vehicles and equipment ....
Other

21,421
20,451
970

20,834
20,385
449

23,854
22,769
1,085

Other manufacturing
Tobacco manufactures
Textile products and apparel
Textile mill products
Apparel and other textile products
Lumber, wood, furniture, and fixtures
Lumber and wood products
Furniture and fixtures
Paper and allied products
Pulp, paper, and board mills
Other paper and allied products
Printing and publishing
Newspapers
Miscellaneous publishing
Commercial printing and publishing
Rubber products
Miscellaneous plastics products
Glass products
Stone, clay, and other nonmetallic mineral products
Instruments and related products
Measuring, scientific, and optical instruments
Medical instruments and supplies and ophthalmic goods
Photographic equipment and supplies
Other
Leather and leather products
Miscellaneous manufacturing industries

32,807
1,982
1,597
947

40,979
3,805
1,807
1,294

851
492
360
9,418
4,299
5,119
1,451
20
1,034

37,809
2,863
1,741
1,024
717
1,055
503
551
9,886
4,584
5,302
1,608
16
1,214

397

39
7

3,269
2,205
1,182
2,058
7,421
1,262
2,564
3,595
1,371
85
1,286

Wholesale trade
Durable goods
Motor vehicles and equipment
Lumber and other construction materials
Professional and commercial equipment and supplies
Metals and minerals
Electrical goods
Hardware, plumbing, and heating equipment and supplies ....
Machinery, equipment and supplies, nee
Durable goods, nee
Nondurable goods




31
0
533

133
237

3,376
18,422
4,636
823
455
916
1,223
843
375

2,283
1,231

-87
-12
-355
-757
331
-71
142

25
-227

775

-156
-481
-678

598
193
1,008

559
10
39
-80

857
247

55
78
1
5
7
1

221
105
99

144
314
13
1
513

-1,024

5,203

-70
23
-1,131
153
-28
-6
119

(D)

n

4,010
632
105
31

457
37
1,291
286
123

55

26
162

945
232
363
53
298
5,271
-14
164
4,597

524

602
529
73

984

665
34
-97
728
10
4
374
35
19
7

1,359

5
-24
103
47

86

16
5
-14
-74

208
113
121

175

77
70

1,151

263

1,184

2,028

1,395

978

120
664

11
4
677

11
5
402

127
453

53
28
92
96
80

767
24
13
10
743
42
303
117
281

2,853
-107
-171
2,691
440
86
36
69
147
82
20

539
-67
354
19

53

6,061
1,699
2,540
1,059
34
729

()
934
453
90
3
80
171
64
46

284
557

-49
298

609
1,467

761
140

818
-1,024

186
214

785

580

425

262

278
121

1,804
197
915
654
38

25,579
24,529
1,051

1,700
1,596
104

-687
-705
19

2,307
2,253
53

3,564
3,574
-10

5,094
5,143
^9

3,803
3,706
96

2,810
2,750
60

2,995
2,910
85

43,182
3,923
2,209
1,457

5,724
-813
100
65

3,152
576
106
100
6
49
-14
64

3,677

3,874
11
2
294
68

4,955

4,801

3,959
873
171
98

4,147
994
154
76
78
47
59
-12
495
-128
623
212
-5
215
2
585
146
76
150
1,174
151
544
479
114
1
113

513

752

36

1,033
573
460
11,075
4,993
6,083
1,503

65
62
2
4,517
3,909

1,143

1,251
695
556
12,013
5,456
6,558
1,639
30
1,288

340

31
2

3,374
2,346
1,395
2,744
9,032
1,862
3,119
4,050
1,765
87
1,677

3,406
2,425
2,056
2,856
9,269
1,901
3,389
3,979
1,743
-20
1,763

3,300
2,470
1,846
2,798
9,989
1,858
4,044
4,087
1,745
-46
1,790

105
230

38,454
26,231
1,698
30
14,178

43,101
28,856
1,779
15,169

47,902
29,704
2,232
18
15,621

51,140
30,967
1,574
15
16,827

793

554

578

483

2,984

3,568

3,586

553

580

617

4,724
1,271
12,222

5,625
1,557
14.245

5,505
1,547
18,198

4,166
600
5,696
1,605
20,174

25

887

659

30,680
177
3,641
22,060
4,803
950
140
1,054
1,228
1,001
430

20

-91
852

31
9
548

26,787

650

4,902

502

3,987
1,069
2,285
149

Machinery, except electrical
Farm and garden machinery ,
Construction, mining, and materials handling machinery .
Office and computing machines
Other
Engines and turbines
Metalworking machinery
Special industry machinery
General industry machinery and equipment
Refrigeration and service industry machinery
Machinery, except electrical, nee

352

Income

1989

1989

Petroleum
Oil and gas extraction
Crude petroleum extraction (no refining) and natural gas
Oil and gas field services
Petroleum and coal products
Integrated petroleum refining and extraction
Petroleum refining without extraction
Petroleum and coal products, nee
Petroleum wholesale trade
Other
Petroleum tanker operations
Petroleum and natural gas pipelines
Petroleum storage for hire
Gasoline service stations

Capital outflows (inflows (-))

608
365
2
258

756
318
438
90
-4
118
-24
198

215
254

732
75
205
-130
63
23
40
1,219

536
683
46
-1

288

25

38
9
242
?7

90
230
374
-155
333
196
279
1

25
316
854
198
321
335
157
3

669
46
460
-27
321
167
49
-9

278

155

58

11
0
-154
132
1,401
70
993
337
118
()
*
118

-64
869
5

382
35
315

25
^5

176
1,332

87
3,229

485

589
71
0
16
5
7
18
6
-19
336

64

273
84
490
241

O

1,290

5,336
2,086

1,870
538
-177

-5

81
81

5,124
1,895
424
-9
1,155

3,018
2,533
551
-14
810
99

114
-301

226

194

^76
-5
1,485

211
6
1
3,250

542
235
111

125
100
68
32
1,291

575
242
84
158
59
15
44
1,050

73
-2
-19
17
609

-2
11
8
37
473
335

233
817
202
-3
170
35
279
268

3
606
11
6
-5
154
12
329
217

238
357
1,004
167
526
310
163
10
153

186
307
1,427
201
489
737
207
4
203

119
138
1,217
231
471
515
127
-4
131

6,198
4,054
532
1
1,877

6,743
4,218
356
_3
2,441

5,833
2,854
315

245
460
72
565

180
622

94
623
33
10
0

450
841
216

302
2,144

48

267
309
2,525

-5
1,401

293
2,979

6,570
3,632
309
-4
1,930
97
696
55
254
294
2,938

124

• July 1993

SURVEY OF CURRENT BUSINESS
Table 18.—U.S. Direct Investment Abroad: Industry Detail for Selected Items—Continued
[Millions of dollars]
Direct investment position on a historicalcost basis
1989

Paper and paper products
Drugs, proprietaries, and sundries
Apparel, piece goods, and notions
Groceries and related products
Farm-product raw materials
Nondurable goods, nee

239
3,298
655
1,497
1,094
5,440

1990

1991
265
4,738
1,091
1,641
1,580
8,882

286
4,021
621
1,417
1,184
6,716

1992

Capital outflows (inflows (-))
1989

1990

1991

484
5,265
1,565
1,996
1,569
9,295

8
-139
-31
-871
310
1,207

11
445
-136
-65
131
947

15
625
550
182
323
1,535

Income
1992
520
871
512
335
-15
1,027

1989
43
706
194
315
29
856

1990
32
790
294
427
132
850

1992

1991
10
999
499
321
126
1,024

14
1,029
490
517
157
731

19,378

20,706

21,170

23,468

-1,192

-1,488

-1,143

1,222

219

409

332

2,323

101,086
25,613
0
214
25,399
15,998
1,926
1,028
13,044
1,611
57,864

109,351
23,419

129,546
29,070
0
307
28,763
19,791
3,096
2,117
14,578
2,542
78,142

22,138
13,981

3,132
-3,379

8,212
2,041

12,840
2,110

11,601
2,139

68
13,913
321
-167
-48
535
225
7,610

2
-3,381
1,919
798
252
869
157
4,435

27
2,014
652
392
191
69
712
4,806

10,391
5,758
0
60
5,698
810
48
479
283
547
3,277

11,547
1,526

230
23,189
18,453
2,435
1,622
14,395
1,846
65,634

117,959
24,632
0
258
24,375
19,458
2,851
1,673
14,935
2,415
71,454

P)
1,509
1,852
21
190
1,641
-47
8,216

50
2,060
2,078
522
181
1,375
-67
8,719

25
2,115
1,329
209
205
916
-71
8,203

10,604
2,029
0
51
1,978
810
45
271
495
-2
7,766

Services
Hotels and other lodging places
Business services
Advertising
Equipment rental (ex. automotive and computers)
Computer and data processing services
Computer processing and data preparation services
Information retrieval services
Computer related services, nee
Business services, nee
Services to buildings
Personnel supply services
Other
Automotive rental and leasing
Motion pictures, including television tape and film
Health services
Engineering, architectural, and surveying services
Management and public relations services
Other
Automotive parking, repair, and other services
Miscellaneous repair services
Amusement and recreation services
Legal services
Educational services
Accounting, auditing, and bookkeeping services
Research, development, and testing services
Other services provided on a commercial basis

11,736
1,181
4,796
1,117
634
1,661
99
185
1,376
1,385
166
236
983
731
1,800
348
663
1,094
1,123
34
144

13,126
1,289
5,278
1,072
591
2,086
449
234
1,403
1,529
169
291
1,069
1,007
1,956
216
758
1,033
1,589
47
172
339
138
127
94
340
332

15,357
1,357
6,539
1,139
570
3,035
604
256
2,175
1,794
276
94
1,424
833
2,416
182
755
1,593
1,682
42
157
112
182
153
129
471
437

15,789
1,294
6,321
1,224
508
2,891
638
280
1,974
1,697
277
102
1,318
1,546
2,342
212
934
1,600
1,540
43
181
177
232
127
112
462
207

2,207
203
1,083
288
-8
589
227
-34
395
214
1
76
136
-61
813
-230
12
181
206
2
29

1,443
99
501
13
-65
400
350
50

2,038
-107
1,016
111
-17
644
-1
-5
650
278
103
8
168
-155
368
-70
160
523
302
-43
-33
-74
43
26
33
152
198

1,291
76
122
197
-71
-113
22
20
-155
110
12
13
85
793
1
27
154
94
24
1
25
73
50
-15
-16
25
-120

1,732
115
482
66
45
163
64
-2
101
209

32
504
46
61
298
193
3
26
-7
81
18
24
27
21

1,733
161
623
163
50
159
14
43
102
251
22
43
186
22
456
24
119
174
155
3
18
-18
52
17
22
23
39

1,563
115
656
140
39
337
130
27
180
140
18
10
112
9
134
19
134
307
188
3
14
9
50
13
25
15
60

1,184
58
426
156
1
142
69
18
55
127
9
11
107
32
139
27
187
110
205
3
(D)

Other industries
Agriculture, forestry, and fishing
Agricultural production—crops
Agricultural production—livestock
Agricultural services
Forestry
Fishing, hunting, and trapping
Mining
Metal mining
Iron ores
Copper, lead, zinc, gold, and silver ores
Other metallic ores
Metal mining services
Nonmetallic minerals
Coal
Coal mining services
Nonmetallic minerals, except fuels
Nonmetallic minerals services, except fuels
Construction
Transportation
Railroads
Water transportation
Transportation by air
Pipelines, except petroleum and natural gas
Passenger transportation arrangements
Transportation and related services, nee
Communication and public utilities
Telephone and telegraph communications
Other communications services
Electric, gas, and sanitary services
Retail trade
General merchandise stores
Food stores
Apparel and accessory stores
Eating and drinking places
Retail trade, nee

14,859
582
393
77

19,870
581
356
111
1

22,211
548
384
111
-9
7
55
4,990
2,943
593
1,893
390
68
2,047
1,600
0
444
3
796
2,445
1
1,496
24
(*)
-18
941
5,301
3,492
111
1,698
8,130
1,744
954
294

24,245
546
189
138
-8

1,345
30

3,440
-19
34
-4

3,253
51
-140
20
1

1,744
64
25
12

1,624
-15
-24
10

1,880
-55
-13
-14

2
343
19
138
-121
4
-2
324
315
0
9

(D)
780
922
25
806
94
-2
-142
-152
0
9

1,836
-59
-60
10
1
-8
-1
655
531
56
308
168
-1
124
48
0
76

Banking
Finance (except banking), insurance, and real estate
Finance, except banking
Savings institutions and credit unions
Business franchising
Other
Insurance
Life insurance
Accident and health insurance
Other
Real estate
Holding companies

* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.




P
)
94
114
87
297

n

fl P)
P

4,717
2,823
434
1,952
349
87
1,893
1,474
0
417
2
615
1,811

P)
1,275
112
0
-2
503
920
325
45
549
6,215
1,549
1,059
293

5,155
3,470
548
2,442
413
68
1,685
1,248
0
434
3
706
2,202
2
1,420
51
()
*
-14
741
4,376
2,845
30
1,500
6,851
1,643
757
288

P)

6,007
3,890
622
2,756
447
65
2,117
1,667
0
448
3
763
2,714
-3
1,662
29
1
-14
1,041
5,810
4,541
9
1,260
8,404
1,890
1,188
287

n

O

n

153
9
29
114
255
447
-39
20
-67
227
11
23

P)
44

P
)
44

32
15
76

-4
-9
29

P)
6

P)
3,903
2
-17
18

fl P)
P)

117
40
-396
514
-87
9
78
77
0
-2
3
102
286

P)
162
15
0
-3
115
360
141
5
214
450
101
-97
28

379
474
117
316
60
-19
-95
-117
0
22

O

.a

fi 412
13

330

P
263)
-70

-S
74
3,178
2,470
-16
723
-75
3
-274
10

1
135
-16

3

294
1,585
1,349
74
163
1,076
78
162
28

n
489
55
-4
264
3

n
221
1,231
1,094
-26
163
648
192
261
8

B R R R R R R 8

P)

P)

£

8

493
562
95
243
224
1
-69
-151
0
81

il
f

205
-3
176
17
0
3
12
222
120
-4
107
659
196
75
40
248
100

n

-2

n

523
462

P)
200
P
-2)
61
17
0
44

n

/D]

53
12
15
38
34

fi

373
315
81
77
157

0

58
-17
0
75

n

n

n

62
108
4
153
16

126
160
-7
304
15

14
186
-9
224
21

n

3

-1121
299
113
-8
194
646

-180
590
318
-9
281
687

P)
31

P)
82

19

-1

8

144

{

1

-22A
506
376
-18
148
535
34
72
11
395
23

NOTE—In this table, unlike in the international transactions accounts, as revised in June 1993, income and capital
outflows are shown without a current-cost adjustment, and income is shown net of withholding taxes.

C-l

SURVEY OF CURRENT BUSINESS

July 1993

BUSINESS

CYCLE

INDICATORS

Data tables
Footnotes for pages C-l through C-5
Charts

C-l
C-6
C-7

Series originating in Government 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.
Current and historical data for the series shown in the C-pages are available on diskettes, printouts, and the Commerce
Department's Economic Bulletin Board. For more information, contact the Business Cycle Indicators Branch, Business
Outlook Division (BE-52), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230. (Telephone:
(202) 606-5366; fax: (202) 606-5313.)

NOTE.—This section of the SURVEY is prepared by the Business Cycle Indicators Branch.
Series
no.

Year

1992

1993

Series title and timing classification
1992

May

June

July

Aug.

Sept.

Nov.

Oct.

I Dec.

Jan.

Mar.

Feb.

i

Apr. I

May I June

1. COMPOSITE INDEXES
The Leading Index
910*

5*
8*
32 •
20 •
29*
92*
99 •
19 •
106 •
83 •

Composite index of leading indicators. 1982=100 (L.L.L)
Percent change from previous month
Percent change over 3-month span, AR
Leading index components:
Average weekly hours, mfg. (L,L,L)
Average weekly initial claims for unemployment
insurance, thous. (L.C.L)' *.
Mfrs.' new orders, consumer goods and materials,
fail. 1982$ (L,L,L).
Vendor performance, slower deliveries diffusion index.
percent (L.L.L).
Contracts and orders for plant and equipment, bil. 1982S
(LL.L)S.
Index of new private housing units authorized by local
building permits, 1967=100 (L.LL).
Change in mfrs.' unfilled orders, durable goods, bil.
1982$, smoothed (LL.L)f.
Change in sensitive materials prices, percent, smoothed
(LL.L)t.
Index of stock prices, 500 common stocks, 1941-43=10,
NSA (L,L,L)*.
Money supply M2. bil. 1982$ (L.L.L)
•
.
Index of consumer expectations, U. of Michigan,
1966:1=100, NSA (L.L.L)© 2 .
Diffusion index of 11 leading indicator components:
Percent rising over 1-month span
Percent rising over 6-month span

950

149.2
.6
2.5

148.8

148.9

4.7

1.6

-1.6

41.0
412

41.2
418

41.1
429

41.1
417

1,106.53

90.92

91.91

50.2

50.2

50.5

519.22

42.90

' 44.58

87.7

84.0

-2.81

-2.64

.27

.77

415.74

148.7

149.4
52

124

153.1
1.7
'8.6

'152.5

1.3
41.1
436

41.0
455

41.1
396

41.2
373

41.2
333

91.74

91.04

91.90

93.50

95.13

51.1

50.2

50.9

48.8

51.0

42.49

'42.40

43.88

'43.79

83.6

86.4

86.2

89.3

-2.67

-2.94

-3.20

.83

.72

.52

414.81

408.27

415.05

2,387.3
70.3

2,391.4
71.2

2,382.7
70.7

54.5
67.0

45.5
54.5

123.6
.1
1.5

123.4
0

108,519
3,391.2

108,470
3,380.7

'151.6
-1.0
'-1.3

152.0

'151.4

'-3.9

'-4.6

''0

41 4
364

41.4
343

41.2
376

41.5
374

'41.4
390

'41.3
383

99.05

98.64

'98.21

96.26

'96.48

'94.48

'94.97

51.7

53.2

53.1

52.1

53.6

51.7

49.9

'42.62

'47.54

'45.55

'49.76

'47.23

'47.05

'48.21

'50.76

91.0

90.6

95.4

92.3

91.0

82.5

87.8

89.4

88.9

-3.49

'-3.35

'-3.47

'-3.06

'-2.43

'-1.85

'-1.99

'-2.30

'-2.76

'-3.23

.50

.22

-.15

-.26

-.22

'-.16

'-.21

-.35

'-.46

-.48

417.93

418.48

412.50

422.84

435.64

435.23

441.70

450.16

443.08

445.25

448.06

2,377.2
67.6

2.378.4
69.5

2.380.4
67.4

2,378.3
67.5

2,376.4
78.2

'2,372.4
89.5

'2,354.4
83.4

'2,338.8
80.6

'2,333.9
75.8

'2,325.7
76.4

'2.343.2
68.5

"2.347.3
70.4

36.4
54.5

50.0
59.1

40.9
63.6

54.5
77.3

63.6
81.8

63.6
81.8

77.3
111

36.4
72.7

50.0
45.5

9.1
'27.3

54.5

'36.4

'54.5

123.3

123.8
.4
-.6

123.2

123.9

124.2

3.3

7^3

125.5
1.0
5.3

125.5
0
4.9

125.7
.2
.6

125.7
0
'0

'125.5
'—.2
'.6

'125.9

0

123.3
.1
.3

108,454
3,377.3

108,605
3,375.8

108.615
3,387.5

108,674
3,382.4

108,789
3,412.8

108,921
3,411.6

109,079
3,441.5

109,235
3,439.3

109.539
3,435.4

109.565 '109,820 '110.035
3,445.9 '3,441.1 '3,456.7

'110,048
'3,452.4

106.7
106.5
106.0
5,849,908 '480,473 '486,041

106.8
490,651

106.6
485,449

106.2
491,591

107.5
491.220

108.4
495,195

108.9
505,405

109.3
504,797

109.9
506,551

'110.4
'110.3
110.1
505.170 '502,604 '504.522

'110.1

148.9

148.6

150.5

t

153.2
r I

7t

'151.6
'.1

The Coincident Index
Composite index of coincident indicators. 1982=100 (CC.C)
Percent change from previous month
Percent change over 3-month span, AR
41 •
51 •
47 •
57*

Coincident index components:
Employees on nonagricuitural payrolls, thous. (C.C.C) ....
Personal income less transfer payments, bil. 1987$, AR
(C.C.C).
Index of industrial production, 1987=100 (C.CC)
Manufacturing and trade sales, mil. 1987$ (CC.C)
Diffusion index of 4 coincident indicator components:
Percent rising over 1-month span
Percent rising over 6-month span

U

_ c

y

125.5
3
-.3

•V6

65.6
90.6

75.0
87.5

25.0
75.0

87.5
100.0

25.0
100.0

37.5
100.0

75.0
100.0

87.5
100.0

100.0
100.0

50.0
100.0

75.0
100.0

106.0
-.5
-5.6

106.3
-1.1
-9.3

105.4
-.8
-10.0

104.7
_i
-52

104.9
.2
-4.5

104.2
-.7
-2.3

104.1
-.1
-1.1

104.6
.5
0

104.2
—4
-1.1

103.8
-.4
-1.1

17.9
1.61

17.9
1.62

18.2
1.61

18.3
1.60

18.3
1.62

18.5
1.60

19.2
1.60

18.4
1.59

19.2
1.56

-1.5

-3.2

-2.1

-1.8

-1.2

-.4

-.1

-1.6

6.25

6.50

6.50

6.02

6.00

6.00

6.00

6.00

361.793

360.078

355.208

356.142

356.459

354.948

359.663

364,712

365,248

14.51

14.52

14.51

14.47

14.46

14.43

14.27

14.31

14.27

14.25

14.32

14.29

14.32

'•14.23

3.8

3.9

3.7

3.5

3.3

3.1

3.4

3.7

3.9

4.1

4.2

4.2

4.3

4.3

32.1
19.1

14.3
7.1

7.1
0

14.3
14.3

28.6
14.3

21.4
42.9

57.1
42.9

64.3
42.9

50.0
35.7

42.9
50.0

71.4
'35.7

42.9
'50.0

78.6

'42.9

116.7

116.1

117.0

118.2

117.4

118.3

119.0

118.7

120.4

120.9

120.5

120.7

'120.1

'120.8

62.5
100.0

50.0

'75.0

104.3
.5
-.4

104.1
-.2
2.7

104.5
.4
'-.4

'104.2
'—3
4
12

18.7
1.56

18.3
1.56

17.5
1.57

17.4
1.58

17.6
/'1.57

17.6

-.1

-1.2

-1.6

'-2.0

'-2.3

'-2.0

'-1.3

6.00

6.00

6.00

6.00

6.00

6.00

6.00

'359,005 '359.516 '353.227 '354.444 '355.769

356.513

3

The Lagging Index
930*
•
91 •
77*
62 •
109 •
101 •
95*
120 •

952

940*

Composite index of lagging indicators, 1982=100 (Lg.Lg.Lg)
Percent change from previous month
Percent change over 3-month span, AR
Lagging index components:
Average duration of unemployment, weeks (Lg.Lg.Lg) i .
Ratio, mfg. and trade inventories to sales in 1987$
(Lg.Lg.Lg).
Change in labor cost per unit of output, mfg., percent,
AR. smoothed (Lg.Lg.Lg) •;•.
Average prime rate charged by banks, percent, NSA
(Lg.Lg.Lg)*.
Commercial and industrial loans outstanding, mil. 1982$
(Lg.Lg.Lg).
Ratio, consumer installment credit outstanding to
personal income, percent (Lg.Lg.Lg).
Change in Consumer Price Index for services, percent.
AR. smoothed (Lg.Lg.Lg) v.
Diffusion index of 7 lagging indicator components:
Percent rising over 1-month span
Percent rising over 6-month span
Ratio, coincident index to lagging index, 1982=100 (L,L,L) .

NOTE—The following current high values were reached before May 1992: June 1991—BCI-106 (2.424.6); August
1991-BCI-92 smoothed (-0.83): and December 1991—BCI-62 smoothed (1.1) and BCI-77 (1.66).
See page C-6 for other footnotes.




4

104.4
4
.2

4.2

'120.2

C-2 • July 1993
Series

no.

SURVEY OF CURRENT BUSINESS
Year

1992

1993

Series title and timing classification
1992

May

June

July

|

Aug.

Sept.

Oct.

I

Nov.

Dec.

Jan.

Feb.

Mar.

|

Apr.

|

May

June

2. LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
441
442
451
452
453
1 •
21*
5*

46 •
60

48*
42
41 •
963

40 •
90 •

37
43 •
45
91 •
44

Labor force:
Civilian labor force, thous
...
.
Civilian employment, thous
Civilian labor force participation rates (percent):
Males 20 years and over
Females 20 years and over
Both sexes 16-19 years of age
Marginal employment adjustments:
Average weekly hours mfg (L L L)
Average weekly overtime hours, mfg. (L.C.L)
Average weekly initial claims for unemployment
insurance, thous. (L.C.L)' %•
Job vacancies:
Index of help-wanted advertising, 1967=100 (L.Lg.U)
Ratio, help-wanted advertising to unemployed (L.Lg.U) ...
Employment:
Employee hours in nonagricultural establishments,
bil. hours, AR(U,C,C).
Persons engaged in nonagricultural activities, thous.
(U.CC).
Employees on nonagricultural payrolls, thous. (CC.C) ....
Diffusion index of employees on private nonagricultural
payrolls, 356 industries:
Percent rising over 1-month span
Percent rising over 6-month span
Employees in goods-producing industries, thous. (L,C,U)
Ratio, civilian employment to population of working age,
percent (U,Lq,U).
Unemployment:
Number of persons unemployed, thous. (L,Lg,U)?
Civilian unemployment rate, percent (L.Lg.U) ±
Average weekly insured unemployment rate, percent
M 1 n 1 h 2 J[L,Lg,u; J..
Average duration of unemployment, weeks (Lg.Lg.Lg) t •
Unemployment rate, 15 weeks and over, percent
(Lgig.Lg)?.

126.982
117,598

127,039
117,580

127.298
117,510

127,350
117,722

127,404
117,780

127.274
117,724

127,066
117,687

127,365
118,064

127,591
118,311

127,083
118,071

127,327
118,451

127.429
118.565

127,341
118,416

128.131
119.273

128,127
119,219

77.3
58.4
51.3

111
58.3
51.2

77.6
58.5
51.8

77.4
58.6
51.3

77.5
58.5
51.5

77.3
58.3
52.1

77.3
58.2
50.6

77.1
58.4
51.4

77.1
58.5
51.6

76.8
58.2
51.0

76.8
58.2
52.1

76.9
58.2
51.3

76.8
58.1
51.7

77.1
58.4
52.7

77.0
58.5
51.4

41.0
3.8
412

41.2
4.0
418

41.1
3.8
429

41.1
3.8
417

41.1
3.8
436

41.0
3.6
455

41.1
3.8
396

41.2
3.9
373

41.2
3.9
333

41.4
4.0
364

41.4
4.2
343

41.2
4.0
376

41.5
4.2
374

'41.4
'4.1
390

'41.3
'4.0
383

92
.291

94
.296

'93
'.283

91
.281

93
.287

90
.280

92
.292

95
.304

95
.305

92
.304

97
.325

96
.322

96
.320

'100
'.336

'97
'.324

200.52

200.72

200.16

200.11

200.92

199.92

200.77

202.01

201.86

201.98

202.47

202.33

'202.78

'205.26

'203.37

114,391

114,394

114.266

114,515

114,562

114,503

114,518

114,855

115,049

114,879

115,335

115.483

115,356

116,203

116,195

108,519

108,470

108.454

108,605

108,615

108,674

108.789

108,921

109,079

109,235

109,539

109.565

'109,820

50.2
50.0
23,142
61.4

52.5
51.3
23,237
61.5

45.2
48.9
23,172
61.4

52.2
47.3
23,160
61.4

45.5
45.6
23,073
61.4

52.7
48.9
23,012
61.3

52.4
51.8
22,995
61.3

52.0
57.7
22,995
61.4

54.8
56.6
22.985
61.5

58.1
"59.7
23,001
61.3

59.7
''57.9
23,069
61.4

51.0
'54.9
23,016
61.4

'53.8

''54.2

'45.4

'22.980
61.3

'22.994
61.7

'22.928
61.6

9,384
7.4
3.0

9,459
7.4
3.1

9,788
7.7
3.1

9,628
7.6
3.1

9,624
7.6
3.0

9,550
7.5
3.0

9,379
7.4
2.9

9,301
7.3
2.8

9,280
7.3
2.6

9,013
7.1
2.6

8,876
7.0
2.5

8,864
7.0
2.5

8,925
7.0
2.6

8,858
6.9
2.6

8,908
7.0
2.6

17.9
2.6

17.9
2.6

18.2
2.7

18.3
2.8

18.3
2.8

18.5
2.8

19.2
2.8

18.4
2.7

19.2
2.8

18.7
2.6

18.3
2.5

17.5
2.4

17.4
2.3

17.6
2.3

17.6
2.2

'110,035 '110,048

3. OUTPUT, PRODUCTION, AND CAPACITY UTILIZATION

50
49

Output:
Gross domestic product, bil. 1987$, AR (CC.C)
Percent change from previous quarter, AR
Gross national product, bil. 1987$, AR (C.CC)
Value of domestic goods output, bil. 1987$, AR (C,C,C)

47*
73*
74*
75*

Industrial production indexes, 1987=100:
Total (C.CC)
Durable manufactures (CCC)
Nondurable manufactures (C.L.L)
Consumer goods (C,L,C)

55*

124
82 •

Capacity utilization rates (percent):
Total industry (L,C,U)
Manufacturing (L,C,U)

4,933.7
3.4

4,990.8
4.7
4,995.9
2,010.6

4.999.9
.7

4,922.6
2.1
4,932.8
1,959.4

4,892.4
1.5
4,899.1
1,936.7

106.5
108.1
105.4
105.2

106.7
108.4
105.4
105.8

106.0
107.6
105.2
104.0

106.8
108.2
105.7
104.9

106.6
108.5
105.2
105.1

106.2
108.1
105.2
104.4

107.5
109.8
105.8
106.4

108.4
110.9
106.4
107.1

108.9
111.8
106.0
107.5

109.3
112.9
106.4
107.6

109.9
113.8
106.4
108.5

79.8
78.8

80.1
79.1

79.5
78.6

80.0
78.9

79.7
78.7

79.3
78.4

80.2
79.2

80.8
79.7

81.0
79.8

81.2
80.3

81.5
80.5

4,945.6
1,966.2

'5,019.5
'1.6

'5,008.5
2,012.2

'2,019.4
'110.4
'114.8
'107.0
'108.3

'110.3
'114.7
'106.9
'107.9

'110.1
'114.3
'106.6
'107.1

'81.7

110.1
'114.1
'106.6
'108.6

'81.5
'80.7

'81.2
'80.3

4. SALES, ORDERS, AND DELIVERIES
57*
59*

Sales:
Manufacturing and trade sales, mil. 1987$ (C.CC)
Sales of retail stores, mil. 1987$ (U.L.U)

7*
8*

Orders and deliveries:
Mfrs.' new orders, durable goods, bil. 1982$ (L.L.L)
Mfrs.' new orders, consumer goods and materials,

5,849,908 '480,473
1,671,067 '137,697

'486.041
'137,478

490,651
138,377

485,449
138,914

491,591
139,635

491.220
142,398

495,195
142,013

505.405
143,717

504,797
143,296

506,551
142,594

505,170 '502.604 '504.522
141,019 '143,309 '143.964 '144,906

1,184.86
1,106.53

97.04
90.92

99.55
91.91

96.42
91.74

96.39
91.04

96.80
91.90

'100.85
93.50

'98.63
95.13

'107.31
99.05

'104.59
98.64

'106.77
'98.21

'103.10
96.26

'102.64
'96.48

363.068
-2.83
-2.81

384.033
-2.72
-2.64

381.464
-2.57
-2.67

376,940
-4.52
-2.94

373,227
-3.71
-3.20

368.991
-4.24
-3.49

'367.781
'-1.21
'-3.35

'362,972
'-4.81
'-3.47

'363.068
'-3.06

'362.856
'-.21
'-2.43

'362.016
'-.84
'-1.85

'356.661
'-5.36
'-1.99

'352.925
'-3.74
'-2.30

50.2

50.2

50.5

51.1

50.2

50.9

48.8

51.0

51.7

53.2

53.1

52.1

53.6

51.7

49.9

121.4

'120.3

'100.12
'94.48

'103.86
'94.97

u;j 4 QQO£ /I 1 1 \

92 •
32 •

Oil. lyocO (L,L,L).
Mfrs.1 unfilled orders, durable goods, mil. 1982$0
Change from previous month, bil. 1982$
Change from previous month, bil. 1982$, smoothed
(L,L,L)t.
Vendor performance, slower deliveries diffusion index,
percent (L,L,L).

MO

'348.566 ^344.302
'-4.36
'-4.26
'-2.76
'-3.23

5. FIXED CAPITAL INVESTMENT
12*
13 •

10
20*
27*
9*
11
97

61
100*

Formation of business enterprises:
Index of net business formation, 1967=100 (L.L.L)
Number of new business incorporations (L L L)
Business investment commitments:
Contracts and orders for plant and equipment, bil.$
(L.L.L).
Contracts and orders for plant and equipment, bil. 1982$
Mfrs.' new orders, nondefense capital goods, bil. 1982$
/MM
(L,L,L).
Construction contracts awarded for commercial and
industrial buildings, mil. sq. ft.(L,C,U) © \
New capital appropriations, mfg., bil.S (U.Lg.U)
Backlog of capital appropriations, mfg., bil.S (C.Lg.Lg)O .
Business investment expenditures:
New plant and equipment expenditures by business
bil.S. AR (C.Lg.Lg)*.
New plant and equipment expenditures by business,
bil.1987$.AR (C.Lg.Lg)*.

116.3
669 519

113.2
48 688

117.5
58 730

116.6
56,942

114.2
51,245

118.5
59,179

116.5
52 492

115.3
55 392

119.0
61,695

119.3
55,625

'121.1
59 691

'121.7
'60813

121.1

402.10

33.66

'34.05

32.39

31.35

33.27

'33.90

'30.23

'35.77

'32.84

'35.91

'33.13

'33.35

r

33.12

'37.62

519.22

42.90

'44.58

42.49

'42.40

43.88

'43.79

'42.62

'47.54

'45.55

'49.76

'47.23

'47.05

'48.21

'50.76

482.06

39.83

41.53

39.62

39.37

41.17

'40.86

'39.95

'44.84

'42.30

'47.31

'44.17

'44.88

'45.78

'47.51

497.94

35.24

42.69

42.00

42.68

38.60

45.51

42.49

42.61

36.89

39.88

43.63

45.63

40.75

43.32

546 08

540 91

547 53

56016

564 81

" 587 29

512.92

505.99

516.53

528.96

539.46

-564.11

NOTE—The following current high values were reached before May 1992: July 1991—BCI-10 (39.01) and BCI92 change (6.12); August 1991—BCt-92 smoothed (-0.83): 3d Q 1991—BCI-11 (33.83): and October 1991-BCI-




9 (50.37).
See page C-6 for other footnotes.

July 1993 •

SURVEY OF CURRENT BUSINESS
Series

no.

1992

Year

C-3

1993

Series title and timing classification
1992

May

June

Aug.

July

Sept.

Oct.

Nov.

Feb.

Mar.

May

Apr.

Dec.

Jan.

'459.12

'442.82

'447.24

'465.62

'448.46

P 453.98

129.6

131.2

131.7

' 133.4

'134.4

June

'134.7

5. FIXED CAPITAL INVESTMENT-Continued

76 •

86 •
87*

28 •
29*

Business investment expenditures—Continued:
Mfrs.' machinery and equipment sales and business
construction expenditures, bil.S, AR (C,Lg,Lg)§.
Index of industrial production, business equipment,
1987=100 (C,Lg,U).
Gross private nonresidential fixed investment, bil. 1987$,
AR:
Total (CLg.C)
Structures (Lgig.Lg)
Producers' durable equipment (CLg.C)
Residential construction and investment:
New private housing units started, thous., AR (L.L.L)
Index of new private housing units authorized by local
building permits, 1967=100 (L,L,L).
Gross private residential fixed investment, bil. 1987$, AR
(L.L.L).

435.63

'443.25

123.2

126.1

127.5

530.9
144.0
386.9

515.0
146.8
368.2
1,200
87.7

1,197
84.0

1,226
90.6

192.6

191.2

P 564.9
' 145.7

547.5
144.0
403.5

202.3

1,286
95.4

1,171
92.3

1,180
91.0

M19.2
1,124
82.5

'1,206
87.8

'1,254

P 1,254

88.9
' 198.0

203.0

6. INVENTORIES AND INVENTORY INVESTMENT

70
77 4

30*
31 •

Inventories on hand:
Mfg. and trade inventories, bil. 1987$ (Lg,Lg,Lg)O
Ratio, mfg. and trade inventories to sales in 1987$
(Lg,Lg,Lg).
Inventory investment:
Change in business inventories, bil. 1987$, AR (L,L,L) ...
Change in mfg. and trade inventories, bil.S, AR (L.L.L) §

786.63
1.61

5.0
15.6

779.50
1.62

782.34
1.61

785.19
1.60

786.85
1.62

7.8
-1.4

'49.1

'38.4

15.0
'23.5

r

784.85
1.60

785.44
1.59

786.63
1.56

786.77
1.56

789.00
1.56

792.23
1.57

'793.54
1.58

P 794.38
M.57

'8.6

9.8
'19.8

'32.9

'24.9

33.5
'42.3

'52.5

M0.6

'8.2
'21.5

784.27
1.60

;

7. PRICES
Sensitive commodity prices:
Index of sensitive materials prices, 1982=100
Percent change from previous month
Percent change from previous month, smoothed
(L,L,L)f.
Index of producer prices for sensitive crude and
intermediate materials, 1982=100 (L.L.L).
Cattle hides
Lumber and wood products
Wastepaper, news
Wastepaper, mixed, NSA
Wastepaper, corrugated
Iron and steel scrap
Copper base scrap
Aluminum base scrap
Other nonferrous scrap, n.e.c, NSA
Sand, gravel, and crushed stone
Raw cotton
Domestic apparel wool
Index of spot market prices, raw industrial materials,
1967=100, NSA (U.L.L)© 1 *.
Copper scrap, $ per Ib.©
Lead scrap, $ per Ib. ©
Steel scrap, $ per ton©
Tin, $ per Ib., NSA©
Zinc, $ per Ib., NSA©
Burlap, $ per yd., NSA©
Cotton, $ per Ib.©
Print cloth, $ per yd., NSA©
Wool tops, $ per Ib., NSA©
Hides, $ per Ib., NSA©
Rosin, $ per 100 Ib.©
Rubber, $ per Ib.©
Tallow, $ per Ib.©
336
4

337
4

334
4

333
4

332
4

331

Producer Price Indexes:
Finished goods, 1982=100
Percent change over 1-month span
Percent change over 6-month span, AR
Finished goods less foods and energy, 1982=100
Percent change over 1-month span
Percent change over 6-month span, AR
Finished consumer goods, 1982=100
Percent change over 1-month span
Percent change over 6-month span, AR
Capital equipment, 1982=100
Percent change over 1-month span
Percent change over 6-month span, AR
Intermediate materials, supplies, and components,
1982=100.
Percent change over 1-month span
Percent change over 6-month span, AR
Crude materials for further processing, 1982=100
Percent change over 1-month span
Percent change over 6-month span, AR
Fixed-weighted price index, gross domestic business
product, 1987=100.
Percent change from previous quarter, AR

320
4

323

120*

Consumer Price Indexes for all urban consumers:
All items, 1982-84=100, NSA
Percent change over 1-month span
Percent change over 6-month span, AR
All items less food and energy, 1982-84=100
Percent change over 1-month span
Percent change over 6-month span, AR
Services, 1982-84=100
Percent change from previous month, AR
Percent change from previous month, AR, smoothed
(Lg,Lg,Lg)f.

119.61
.21
.27

121.08
.82
.77

121.22
.12
.83

120.88
-.28
.72

120.56
-.26
.52

122.03

1.22
.50

120.26
-1.45
.2:

118.59
-1.39
-.15

119.39
.67
-.26

120.02
.53
-.22

'120.07
'.04
'-.16

119.10
'-.81
'-.21

117.90
-1.01
-.35

117.26
-.54
'-.46

117.07
-.16

141.98

141.73

141.40

141.21

141.28

142.97

142.96

144.17

148.80

154.09

'159.15

163.01

162.31

160.78

159.97

171.6
146.7
91.6
64.5
146.4
139.2
162.9
137.5
131.4
130.6
89.8
81.5
275.5

168.9
145.4
85.0
56.3
150.3
141.3
162.4
145.4
135.8
130.1
87.8
89.0
281.5

169.2
144.9
88.7
56.5
149.2
139.8
169.1
143.4
134.2
130.2
89.0
85.0
284.2

167.5
143.4
91.6
52.1
148.9
141.0
173.9
144.5
136.7
130.8
95.7
84.7
285.7

172.1
145.0
94.3
51.2
138.7
135.8
171.9
143.2
138.9
131.0
92.6
83.6
283.1

180.2
148.6
96.9
84.6
139.6
134.9
163.6
135.1
133.9
131.1
94.8
83.5
284.7

180.9
150.

177.4
151.9
100.6
86.7
145.4
135.8
155.9
129.4
123.4
131.5
89.3
73.7
267.7

180.3
157.1
100.4
87.0
145.5
142.8
155.3
136.3
124.6
132.1
92.8
74.0
266.4

187.7
162.0
103.
84.5
147.1
152.1
164.9
141.4
129.8
133.2
96.9
66.6
268.7

'177.5
'169.8
'110.8
'86.5
'143.7

177.4
177.9
108.6
98.0
146.1
158.3
152.4
128.9
124.6
132.4
95.8
55.3
266.9

171.4
179.6
109.6
104.4
146.3
154.1
140.1
122.7
119.8
133.1
88.7
52.3
261.5

176.3
176.9
106.0
107.8
144.7
158.0
129.3
124.1
112.7
132.5
88.3
53.0
257.8

175.5
172.4
107.4
107.2
139.7
171.7
135.5
126.4
1131
132.9
84.3
56.0
257.1

.873
.163

.873
.175
91.241
4.032
.665

.911
.168
91.065
4.352
.673
.266
.538
.782
4.000
.764
60.181
.465
.133

1.017
.156

.793
.150

.834
.146
96.118
3.803
.530
.245
.552
.660
3.520
.812
59.880
.494
.149

.811
.162

97.361
3.901
.524
.245
.577
.650
3.400
.801
59.642
.489
.147

.717
.149
105.380
3.738
.504
.245
.540
.650
3.000
.814
59.761
.437
.158

.684
.148
105.030
3.703
.494
.245
.533
.655

3.050
.805
60.060
.437
.152

.145
112.411
3.482
.467
.245
.497
.644
3.400
.774
60.120
.438
.147

90.237
4.022
.609
.259
.539
.732
3.870
.758
60.008
.463
.141

.269
.520
.782
4.000
.800
59.821
.465
.139

123.2
.1
1.7
134.2
.2
1.9
121.7
.1
1.8
129.1
.1
1.6
114.7

123.2
.3
2.3

.1
1.7
114.5

.1
1.5
100.4
.3
3.4

.4
2.7
100.1
2.0
4.3

120.6

4.503
.635
.258
.578
.744
4.000
.765
60.729
.459
.144

123.5
0
2.0

120.2

134.5
.4
1.8
121.6
.4
2.5

129.2

123.5
.2
2.3
134.2
-.2
1.5
122.1
.4
2.7
129.1
-.1
1.1
115.3
.7
2.8
101.5
1.4

12.5

134.4
.1
.7
122.1
0
2.5
129.2
.1
.3
115.3

0
1.9
101.6
.1
9.6

60.914
.466

.164
123.6
.1
1.0
134.4
0
.4
122.1
0

.895
.168
87.280
4.344
.673
.249

.539
.696
3.840
.764
60.729
.467
.155
123.9
.2
.5

1.2

134.6
.1
1.2
122.5
.3
.3

129.5
.2
.5
115.3

129.5
0
.9
115.5

0
.7
100.9
-.7
5.1

.2
-.7
103.0
2.1
0

86.7
139.3
133J
159.1
131.1
128.4
131.4
85.8
80.7
277.7
.841
.179
89.930

3.952
.573
.245
.508
.690
3.750
.815
60.729
.490
.153
124.0
.1
1.1
134.5

-.1
1.8

122.6
1
.8

.795

60.423
.494
.160
123.8
-.2
'1.8
134.8
.2
'2.2
122.3
_p

'1.6
129.5
.2

.906
.150

2.1

124.2
.3
2.8
135.6
.4
3.0

122.3
0

122.6
.2

1.6

123.8
0
1.8
135.0
.1

115.2

'2.0
114.9

129.7
.2
2.0
114.9

-.3
0
102.7
-.3
.4

-.3
1.0
102.6
-.1
'1.4

0
1.4
101.5
-1.1
-2.3

.3
2.3
101.8
.3
.6

129.3
-.2

1.9

'160.3
'163.1
'137.5
'128.6

'132.5
94.0
63.1
270.0

.159
109.091
3.835
.535
.245
.580
.640
3.312
.800
59.524
.475
.146

109.347

3.779
.496
.245
.569
.652
3.160
.816
59.642
.453
.152

'124.7
'.4
3.1
' 135.9
'.2
3.0
'123.1
'.4
3.3
'130.8
'.3
2.8
115.9

125.0
'.2
2.4
136.0
.1
2.4
123.5
'.3
2.1
130.8
'0
2.8
116.3

125.7
.6

125.7
0

125.3
-.3

136.5
.4

136.8
.2

136.6
-.1

124.3
.6

124.3
0

123.6
-.6

131.0
.2

131.3
.2

131.5
.2

116.5

116.3

116.5

.5
2.5
'101.6
'-.2

.3
2.8
101.8
'.2
4.8

.2

-.2

.2

103.0
1.2

105.1
2.0

103.9
-1.1

4.9

'123.8

123.0

121.9

P2.7

3.4

2.6
140.3
.2
3.1
147.3
.3
3.5
152.0
3.8
3.8

92.262
3.802
.520
.245
.525
.675
3.625

2.8
130.4
.5
2.6
115.3

120.9

139.7
.1
3.0
147.1
.3
3.2

140.2
.2
2.6

140.5
.3

147.3
1
2.6

147.8
.3
3.0

151.41
2.4

151.8
3.2
3.7

152.21
3.2
3.5

3.9 i

2.9

NOTE—The following current high values were reached before May 1992: December 1991—BCI-77 (1.66) and
March 1992—BCI-28 (1,318); and BCI-99 change (1.74).




.153

86.022
4.409
.663
.252
.563
.700
4.000
.730

97.

140.9
.2
3.0
1481
.2
3.0
152.6
3.2
3.3

141.3
1

2.9
148.2
.1
3.1
152.9:
2.4
3.1

141.8
.4
3.3
148.9
.5
3.4
153.7
6.5
3.4

142.0
.2
3.6
149.3
.3
4.0
154.2
4.0
3.7

See page C-6 for other footnotes.

141.9
.1
3.6

142.6
.5
3.6

149.6
.2

150.3
.5
3.9
155.3
4.8

4.1
154.7
4.0
3.9

4.1

143.1
.3
3.4
151.0
.5
3.8
155.8
3.9
4.2

143.6
1
3.1
151.2
.1
3.6
156.2
3.1
4.2

144.0
.4

144.2
.1

144.4
0

151.8
.4

152.1
.2

152.3
.1

156.9
5.5
4.3

157.4
3.9
4.3

157.8
3.1
4.2

C-4
Series
no.

• July 1993

SURVEY OF CURRENT BUSINESS
Year

1992

1993

Series title and timing classification
1992

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

| Feb.

Mar.

Apr.

May

5897

'59a5

'59i"8

" 107.8
"-3.3
'-2.0

107.6
'-2.2
'-2.3

' 107.7
'1.1
'-2.0

June

8. PROFITS AND CASH FLOW
16*
18*
22*
81 •
26 •

Profits and profit margins:
Corporate profits after tax, bil.$, AR (L.L.L)
Corporate profits after tax, bil. 1987S, AR (L.L.L)
Ratio, corporate domestic profits after tax to corporate
domestic income, percent (L,L,L).
Ratio, corporate domestic profits after tax with IVA and
CCAdj to corporate domestic income, percent (U.L.L).
Ratio, implicit price deflator to unit labor cost, all
persons, nonfarm business sector, 1982=100(L,L,L).
Corporate net cash flow, bil. 1987S, AR (LL,L)

35

231.4
197.9
6.1

232 7
199.3
6.3

222 2
189.2
5.8

241 0
205.2
6.4

251 1
214.1
6.3

6.9

6.7

65

7.8

74

103.7

103.6

103.5

104.3

103.6

466.5

463.5

466.2

477.0

490.2

9. WAGES , LABOR COSTS , AND PRODUCTIVITY
345
346
53*

63

62*

370
•
•
358

Wages and compensation:
Index of average hourly compensation, all employees,
nonfarm business sector, 1982=100.
Percent change from previous quarter, AR
Index of real average hourly compensation, all
employees, nonfarm business sector. 1982=100.
Percent change from previous quarter, AR
Wages and salaries in mining, mfg., and construction,
bil. 1987$, AR(CCC).
Unit labor costs:
Index of unit labor cost, all persons, business sector.
1982=100 (Lg.Lg.Lg).
Index of labor cost per unit of output, mfg., 1987=100 .
Percent change from previous month, AR
Percent change from previous month, AR, smoothed
(Lg!g,Lg)t.
Productivity:
Index of output per hour, all persons, business sector,
1982=100.
Percent change over 1-quarter span, AR
Percent change over 4-quarter span, AR
Index of output per hour, all persons, nonfarm business
sector, 1982=100.

150.5

149.7

151.0

152.4

153.6

3.6
103.5

2.0
103.2

3.5
103.4

3.7
103.6

3.4
103.5

.6
593.5

-1.1
597.5

134.3

134.2

109.4
-1.7
-1.5

109.2
-1.1
-3.2

113.3

112.7

113.6

114.6

2.8

.7
2.9
111.2

3.2
1.4
1120

3.4

-1.5

1129

1124

1117

594.0

592.4

.8
591.6

109.6
4.5
-2.1

109.2
-4.3
-1.8

109.3
1.1
-1.2

588^5

59Z8

109.5
2.2
-.4

109.4
-1.1
-.1

134.4

.5
589.4

595"9

58&9

109.5
16.7
-.1

108.0
-15.3
-1.2

134.6
108.1
-13.4
-1.6

—4
591.5

136.3
108.1
1.1
-1.6

' 107.9
'2.3
'-1.3

114.1

10. PERSONAL INCOME AND CONSUMER ATTITUDES
52
51 •

58
83*

Personal income:
Personal income, bil. 1987$, AR (C.C.C)
Personal income less transfer payments, bil. 1987$, AR
(CCC)
Indexes of consumer attitudes:
Consumer sentiment, U. of Michigan, 1966:1=100, NSA
Consumer expectations, U. of Michigan, 1966:1=100,

4,091.9
3,391.2

4.078.4
3,380.7

4,076.5
3.377.3

4,094.3
3,387.5

4,078.1
3,375.8

4,090.9
3,382.4

4,125.9
3,412.8

4,118.3
3,411.6

4,155.2
3,441.5

4,161.8
3,439.3

4,156.6
3,435.4

4,171.9
3,445.9

'4,166.8
' 3,441.1

'4,185.4 '4,183.4
'3,456.7 ' 3,452.4

77.3

79.2

80.4

76.6

76.1

75.6

73.3

85.3

91.0

89.3

86.6

85.9

85.6

80.3

81.5

70.3

71.2

70.7

67.6

69.5

67.4

67.5

78.2

89.5

83.4

80.6

75.8

76.4

68.5

70.4

61.6

71.9

72.6

61.2

59.0

57.3

54.6

65.6

78.1

76.7

68.5

63.2

67.6

61.9

58.6

82.0

96.9

95.9

80.1

78.3

74.2

70.7

85.7

103.9

98.0

84.7

77.3

81.1

73.1

69.6

MCA /I 1 1 \ (F\ 1

122

Consumer confidence, The Conference Board,

123*

Consumer expectations, The Conference Board,
1985=100 (L.L.L)*.

HQpc inn /1 1 1 \*

11. SAVING
290
295
292
298*
293 •

Gross saving, bil,$, AR
Business saving, bil.$, AR
Personal saving, bil.$, AR
Government surplus or deficit, bil $, AR
Personal saving rate, percent

85 •
102*
105
106 4

Money:
Percent change in money supply M1 (L,L,L)*
Percent change in money supply M2 (L,C,U)
Money supply M1 bil 1982$ (L L L)
Money supply M2 bil 1982$ (L L L)

686.3
7577
212.6
-282.5
4.8

696.9
788.9
203.3
-295.2
4.6

682.9
735.9
232.3
-285.2
5.3

r
732.8
'778 0
222.9
-262.0
4.9

687.9
770.6
200.4
-277.2
4.4

'199.8
'4.3

12. MONEY, CREDIT, INTEREST RATES, AND STOCK PRICES

107
108
93
94

112*
113 •
111
110 •

14
39

Velocity of money:
Ratio, gross domestic product to money suppy M1
(C.C.C).
Ratio, personal income to money supply M2 (C.Lg.C) ..
Bank reserves:
Free reserves mil $ NSA (L U U) i
Member bank borrowings from the Federal Reserve,
mil.$, NSA (L,Lg,U).
Credit flows:
Net change in business loans, bil.$, AR (L.L.L)
Net change in consumer installment credit, bil.$, AR
(L,L,L).
Percent change in business and consumer credit
outstanding, AR (L,L,L).
Funds raised by private nonfinancial borrowers in credit
markets, mil.$, AR (L.L.L).
Credit difficulties:
Current liabilities of business failures. mil.$. NSA
(L.L.L) ±.
Percent of consumer installment loans delinquent 30
days and over (L,L,L) ® 2 0 i .

.04
-.16
655.6
2,382.7

1.12
.04
661.2
2,377.2

1.451

1.455

1.458

854
172

845
155

684
229

-.11
7.58

-34.54
-13.49
-3.8

294,241

263,664

1.11
.12
664.2
2,387.3

1.17
.08
656.7
2,391.4

6.161

1.50
.22
677.2
2,380.4

1.60
.32
685.2
2,378.3

1.456

1.460

1.474

681
284

684
251

707
287

-34.39
3.05

8.95
-4.44

-4.08
6.32

-7.0

--3.1

-3.6

6.221

1.456

.74
-.03
696.5
'2,372.4

.65
-.29
697.7
'2,354.4

1.470

1.485

1.498

931
143

939
104

1,032
124

-8.56
24.00

71.08
14.06

58.43
21.94

-1.19
60.84

-.9

3.0

6.124

1.31
.19
692.3
2,376.4

2.77

2.60

2.55

2.60

2.46

2.51

'.61
2.30
'.89
'.18
713.4
'717.7
'2,343.2 '2,347.3

'76
'.05
698.3
'2,325.7

1.505

1.515

'1.517

'1.512

'1.508

1,096
165

1,059
45

1,122
91

1,023
73

'875
121

'730
'181

'-70.87
37.24

'24.49
54.83

'-76.63
35.54

'38.59
'35.90

'40.31
'-9.62

'6.40

'2,973.4

'6.634.4

'2,675.4

5.944

'5.848

'2.2
277,608

92,174.6 '13.842.4 '13.665.1 '3.574.6 ''9.031.7 ' 3.215.7 ' 7.863.4 '3.982.9
2.43

-.02
'-.33
695.2
'2,338.8

'.21
-.07
695.8
'2,333.9

5.979

322,736

NOTE.—The following current high values were reached before May 1992: June 1991—BCI-106 (2.424.6): July
1991—BCI-93 (345): August 1991— BCI-94 (764): October 1991— BCI-53 (608.4); and December 1991—BCI-62 index




1.27
.25
668.2
2,378.4

2.53

(111.7) and BCI-62 smoothed (1.1).
See page C-6 for other footnotes.

328,816

'8,136.8

'6,174.9

'2,4067

'4,343.0

2.43

2.44

2.39

2.31

July 1993 •

SURVEY OF CURRENT BUSINESS
Series

no.

Year

1992

C-5

1993

Series title and timing classification
1992

May

June

July

Aug.

Sept.

Nov.

Oct.

Jan.

Dec.

Feb.

Mar.

Apr.

May

June

12. MONEY, CREDIT, INTEREST RATES>, AND STOCK PRICES—Continued
66
72
101 •

95*

119 •
114*
116 •
115*
117
118
109 •

19*

Outstanding debt:
Consumer installment credit outstanding, mil.S
(Lg.Lg.Lg) o.
Commercial and industrial loans outstanding, mil.S,
(Lg.Lg.Lg).
Commercial and industrial: loans outstanding, mil. 1982S
(\ n I n I n\
Ratio, consumer installment credit outstanding to
personal income, percent (Lg.Lg.Lg).
Interest rates (percent, NSA):
Federal funds rate (L.Lg.Lg)*
Discount rate on new 91-day Treasury bills (CLgig)* ...
Yield on new high-grade corporate bonds (Lg.Lg.Lg)*
Yield on long-term Treasury bonds (C.Lg.Lg)'
Yield on municipal bonds, 20-bond average (U.Lg.Lg)* ...
Secondary market yields on FHA mortgages (Lg.Lg.Lg) .
Average prime rate charged by banks (Lg,Lg,Lg)*
Index of stock prices, 500 common stocks. 1941-43=10,
NSA (L,L,L)*.

741,093

730,612

730,866

730,496

731,023

733,023

734,195

736,023

741,093

423.955

422.012

419,146

419,892

419,552

418,839

424,762

429,631

429,532

r

361.793

360.078

355.208

356,142

356,459

354,948

359,663

364,712

365.248

-359,005

14.51

14.52

14.51

14.47

14.46

14.43

14.27

14.31

14.27

3.52
3.46
8.33
7.52
6.44
8.46
6.25

3.82
3.66
8.57
7.80
6.57
8.66
6.50

3.76
3.70
8.45
7.72
6.49
8.56
6.50

3.25
3.28
8.19
7.40
6.13
8.12
6.02

3.30
3.14
7.96
7.19
6.16
8.08
6.00

3.22
2.97
7.99
7.08
6.25
8.06
6.00

3.10
2.84
8.17
7.26
6.41
8.29
6.00

3.09
3.14
8.25
7.43
6.36
8.54
6.00

2.92
3.25
8.12
7.30
6.22
8.12
• 6.00

415.74

414.81

408.27

415.05

417.93

418.48

412.50

422.84

80.436
85.9

10,474
5,856
87.2

10.792
7.008
86.5

12,812
5,781
85.1

9,767
6,287
84.5

10,630
5.094
84.4

7.414
83.5

1,059
315.8

1,072
311.7

1,061

1,050

1,042
319.6

1,035

1,025

748,765

751,727

423,626 '425.667

M19.281

-422,497

-425,856 '426,389

359,516

-353.227

-354,444

-355.769 '356,513

14.25

14.32

14.29

14.32

' 14.23

3.02
3.06
7.91
7.17
6.16
8.04
6.00

3.03
2.95
7.73
6.89
5.87
7.55
6.00

3.07
2.97
7.39
6.65
5.64
7.57
6.00

2.96
2.89
7.48
6.64
5.76
7.56
6.00

3.00
2.96
7.52
6.68
5.73
7.59
6.00

3.04
3.10
7.48
6.55
5.63
7.52
6.00

435.64

435.23

441.70

450.16

443.08

445.25

448.06

6l620
83.2

7392

11,358
8,812
82.0

9,579
6.361
81.5

11.628
7,411
-80.7

10,231
-6,853
-80.5

'•9.317
-5,437
-79.8

""'i.878

82.5

1,019
318.2

1,010

998

992
304.2

983

976

'962
'305.0

37,796
3,399
8,026
45,633
3,923
6,163
113,992
139,954
-25,962

39,178
3,518
8,438
46.143
4,204
6,441

37,504
3,358
7,817
45,176
4,059
6,147

36,928
3,484
8,090
44.832
4,146
6,833
'111,627
'140.695
'-29,068

38,894
3.223
8.402
49.347
4,675
7,265

-38,479
3,543
8.030
-48.660
5,277
7,046

38.953
3,388
8,263
47.319
4,300
6,431

108.9

109.9

110.1
106

-113.5
106
108
102
106.8
-100.6

116.5

-110.4
'106
113.4
-106
'106
'101

f 110.9
'108

744,196

r

-754,719 '753,917

13. NATIONAL DEFENSE
525
548
557

Defense Department prime contract awards, mil.S
Manufacturers' new orders, defense products. mil.S
Index of industrial production, defense and space

570
564*

Employment, defense products industries, thous
Federal Government purchases, national defense, bil.S, AR

'78.8

14. EXPORTS AND IMPORTS
602
604
606
612
614
616
618*
620*
622

Exports, excluding military aid shipments, mil.S
Exports of domestic agricultural products, mil.S
Exports of nonelectrical machinery. mil.S
General imports, mil.S
Imports of petroleum and petroleum products, mil.S
Imports of automobiles and parts, mil.S
Merchandise exports, adjusted, excluding military. mil.S' ....
Merchandise imports, adjusted, excluding military. mil.S' ....
Balance on merchandise trade, mil.S'

47*
721 •
728*
725 •
726*
722*
727*
723*

Industrial production indexes (1987=100):
United States
OECD, European countries2
Japan
Federal Republic of Germany
France
United Kingdom
Italy
Canada

448,024
42,269
94,304
532,665
50,222
72.820
440.138
536,276
-96,138

35,973
-3.213
7.571
43,645
4,181
6,030
108.306
133.107
-24,801

38,039
3.660
8,068
44.889
4.833
5,889

37,430
3,629
7,842
44.938
5,078
5,726

36,369
3,472
7,737
45,054
4,280
6,012
109,493
137,105
-27,612

37,661
3.801
8,317
45,968
4,430
6,500

38,884
3,978
7,963
46,119
4,362
5,848

15. INTERNATIONAL COMPARISONS

320
738
735
•
736
•
732
737
733

106.5
109
116.6
115
110
100
107.5
97.2

758*
755*
756*
752 •
757 •
753*

Foreign currency per U.S. dollar (NSA):
Japan (yen)*
Federal Republic of Germany (d. mark)*
France (franc)*
United Kingdom (pound)*
Italy (lira)*
Canada (dollar)*

1207
3.
141.4
1.7
163.1
2.5
179.1
4.6
145.6
1.5

451.2
1,242.8
337.7

444.1
1,176.0
335.8

451.5
1,132.7
316.2

969.4

938.8

1,284.2
302.2
382.8

1,178.8

298.0

895.3
1,147.5
267.0

382.8

389.1

86.61

88.30

82.57

126.78
1.5618
5.2935
.5699
1,232.17
1.2085

750 •

5.4
144.9
2.4

140.2
2.6
117.5
1.2
120.;
3.0
141.0
1.6
163.7
2.7
178.9
5.1
145.2
2.1

452.2
1,235.4
306.7
900.6
1,192.1
288.6
384.5

Exchange rates:
Exchange value of U.S. dollar, index: March 1973=100,

139.7
3.0
117.6
1.9
120.5
3.6
140.9
2.0
163.7
2.9
178.3

4.7
145.2
2.0

Stock price indexes (1967-100, NSA):
United States*
Japan*
Federal Republic of Germany*
France*
United Kingdom*
Italy*
Canada*

106.8
110
-117.2
116
110

140.3

19*
748*
745*
746*
742 •
747 •
743 •

106.0
110
-117.4
116
110
99
108.3
96.5

3.1
117.0
1.2
120.7
4.0
141.0
2.1
162.7
2.5
178.8

Consumer price indexes (1982-84=100):
United States, NSA
Percent change over 6-month span, AR
Japan, NSA
Percent change over 6-month span, AR
Federal Republic of Germany, NSA
Percent change over 6-month span, AR
France, NSA
Percent change over 6-month span, AR
United Kingdom, NSA
Percent change over 6-month span, AR
Italy, NSA
Percent change over 6-month span, AR
Canada, NSA
Percent change over 6-month span, AR

106.7
110
-115.;
11
110
99
110.4
-96.5

130.77
1.6225
5.4548
.5526
1,220.95
1.1991

126.84
125.88
1.5726
1.4914
5.0321
5.2940
.5215
.5391
1,189.52 1,129.83
1.1924
1.19601

106.6

109

106.2
109

-ir

108.9

-113.8
11
110
100
103.7

95.9

-97.9

-98.1

140.5
29
116,6

140.
3.0
116.9
.7
120.9
4.0
141.5
1.3
163.2
1.7
179.2
4.0
145.6

141.3
2.9
117.

100

2.9

15
1
11
1
100
104.3

1212
3.9
141.5
1.3
163.8
1.7
179.8
4.1
145,5
3.2

107.5
109
-114.5
113
111
102
106.
-98.4

108.10'
-113.1
110
106
101
107.3

-112.6
107
105
101
100.7

-99.0

99.3

109.3
-105
-112.
10
105
101
106
-99.6

141.8
3.:
117.6
1.0
121.7
5.0
141.9
1.6
164.4
0
180.9
3.8
145.7
2.5

142.0
3.6
117.4
1.0
122.3
5.0
144.9
2.0
164.1
1.1
182.0

141.9
3.6
117.4
1.4
122.4
5.3
141.8
3.1
163.6
1.1
182.3

142.6
3.6
117.3
1.9
123.8
5.
142.3
2.7
162.0
.1
182.9

3.6
146.4
2.2

3.5
146.4

3.8
147.0
2.2

460.0
1,151.6

473.9
1,197.7
269.1
866.9
1,281.8
276.3
378.6

858.0

900.4

1,094.5
260.1
384.5

1.131.8
240.1
372.6

121.17
1.4851
5.0370
.6050
1,309.64
1.2453

'101.3

143.6

144.0

3.1
.117.7

454.6
1,093.9

292.2

126.23
1.4475
4.9119
.5146
1,100.00
1.1907

455.2
1,242.8
285.2

144.2

"T1&5

.......„.„

1247

""125.I

""i25.5

4.6
143.5

'"i43"6

"i43.9

163.7
.5
184.0

165.2

165.8

"'1847

185^4

1.5

125.7

165.7

147.4

147"3
.3

"i47"3

"i'47'6

147.6

480.5
1,171.5
291.9
908.6
1,324.5
333.1

489.7
1,233.8
'299.2
945.8
1,351.0
-342.8
407.1

482.0
1,409.7
'294.4
938.8
a
1,327.4
-355.7
428.2

484.3
'1,454.8
'287.8

487.4
'1,416.8

91.81

1.2602

.6841
1,591.35
1.2471

112.41
1.5964
5.3984
.6474
1,536.14
1.2621,

110.34
1.6071
5.4180
.6461
1,475.66
1.2698

107.41
1.6547
5.5700
.6630
1,505.05
1.2789

85.03

122.60
1.4514
4.9378
.5416
1,176.21
1.2225

143.1
3.4
117.4
1.0
124.3
4.5
142.8
3.0
163.1
g
183.6
3.6

108
-106
101
'104.8
-102.0

90.24

448.7
1,177.8
266.3
845.5
1,187.2
260.5
377.0

81.98

105

269.8
861.7
1,240.2

287.9
370.8

123.88
1.5875
5.3706
.6550
1,364.45
1.2674

124.04
1.5822
5.3974
.6447

473.4
1,157.0

277.9
868.7
1,302.2
308.7
373.5

1.2725

124.99
1.6144
5.4751
.6525
1,491.07
1.2779

1,412.38

390.0

120.76
1.6414

5.5594
.6947
1,550.43

117.02
1.6466

5.5944

'297.3
'907.8
902.3
' 1,323.9 ' 1,349.1
'365.7
-'376.3
437.4
448.2

16. ALTERNATIVE COMPOSITE INDEXES
4

990«
9914

CIBCR long-leading composite index, 1967=100 ...
CIBCR short-leading composite index. 1967=1004 ..

247.6
216.1

246.7
214.8

246.3
216.4

248.5
'217.1

249.6
-216.2

250.2
218.0

216.7!

253.7
-219.1

252.8
224.1

253.3
-222.6

-254.1
-225.4

-256.3
-224.9

257.1
-224.6

'259.1
-224.1

'259.1
'225.7

992«
993 4

BEA coincident composite indexes:
Modified methodology. 1982=1005
Stock and Watson methodology. Aug. 1982=100s

125.5
131.2

125.2
131.3

125.2
131.2

125.6
132.0

125.5
131.2

125.6
131.1

126.1 j
131.8;

126.4i
132.6

127.2
133.5

127.3i
133.9

127.6
134.4

127.7
134.6

-127.8
-134.9

-128.1
135.0

'128.0
'134.8

See footnotes on page C-6.




251.3

C-6 • July 1993

SURVEY OF CURRENT BUSINESS

FOOTNOTES FOR PAGES C-l THROUGH C~5
a
A
R
c
©
e

Anticipated.
Annual rate.
Corrected.
Copyrighted.
Estimated.
Later data listed in notes.

NSA
P

r
•

§
0

Not seasonally adjusted.
Preliminary.
Revised.
Graph included for this series
Major revision-see notes.
End of period.

L,C,Lg,U Cyclical indicator series are classified as L (leading), C (coincident), Lg (lagging), or U (unclassified) at reference cycle peaks, troughs, and overall. Series classifications
are shown in parentheses following the series titles.
$ Cyclical indicator series denoted by $ are inverted (i.e., the sign is reversed) for cyclical analysis calculations, including classifications, contributions to composite indexes,
and current high values,
t Cyclical indicator series denoted by f are smoothed by an autoregressive-moving-average filter developed by Statistics Canada.
For information on composite indexes and other concepts used in this section, see "Composite Indexes of Leading, Coincident, and Lagging Indicators" in the November 1987
SURVEY OF CURRENT BUSINESS and "Business Cycle Indicators: Revised Composite Indexes" in the January 1989 SURVEY.
References to series in this section use the prefix "BCI-" followed by the series number. Unless otherwise noted, series are seasonally adjusted.
Percent change data are centered within the spans: 1-month changes are placed in the ending month, 3-month changes are placed in the 3d month, 6-month changes are
placed in the 4th month, 1-quarter changes are placed in the ending quarter, and 4-quarter changes are placed in the 3d quarter.
Diffusion indexes are defined as the percent of components rising plus one-half of the percent of components unchanged. Diffusion index data are centered within the spans:
1-month indexes are placed in the ending month and 6-month indexes are placed in the 4th month.
High values reached by cyclical indicators since the last reference cycle trough (March 1991) are shown in boldface type; high values reached prior to the period shown in the
table are listed at the bottom of each page. For inverted series, low values are indicated as highs.
Sources for series in this section are shown on pages C-27 and C-28 in the April 1993 SURVEY.

Page C-1
NOTE.—Major data revision: Contracts and orders for plant and equipment in 1982 dollars (BCI20)—see note for page C-2.
* Preliminary July 1993 values: BCI-32 = 49.6, BCI-19 = 447.29, and BCI-109 = 6.00.
1. Data include initial claims made under the July 1992 Emergency Unemployment Compensation
amendments. Data exclude Puerto Rico, which is included in figures published by the source agency.
2. Copyrighted. This series may not be reproduced without written permission from the University
of Michigan, Survey Research Center, P.O. Box 1248, Ann Arbor, Ml 48106-1248.
3. Excludes BCI-57, for which data are not available.
4. Excludes BCI-77 and BCI-95, for which data are not available.

Page C-2
NOTE.—Major data revision: Data on the value of construction put in place have been revised
by the source to reflect the updating of basic data and the computation of new seasonal adjustment
factors. This revision affects BCI-20 (contracts and orders for plant and equipment in 1982 dollars) and
BCI-69 (manufacturers' machinery and equipment sales and business construction expenditures) from
1989 forward. For further information on construction put in place data, contact the U.S. Department
of Commerce, Bureau of the Census, Construction Statistics Division, Washington, DC 20233. For
information on the compilation of BCI-20 and BCI-69, contact the U.S. Department of Commerce, Bureau
of Economic Analysis, Business Outlook Division, Washington, DC 20230.
* Preliminary July 1993 value: BCI-32 = 49.6; anticipated 3d quarter 1993 values: BCI-61 = 587.05
and BCI-100 = 567.09; anticipated 4th quarter 1993 values: BCI-61 = 585.34 and BCI-100 = 568.65.
1. Data include initial claims made under the July 1992 Emergency Unemployment Compensation
amendments. Data exclude Puerto Rico, which is included in figures published by the source agency.
2. Data exclude Puerto Rico, which is included in figures published by the source agency.
3. Copyrighted. This series may not be reproduced without written permission from McGraw-Hill
Information Systems Company, F.W. Dodge Division, Paramount Plaza, 13th Floor, 1633 Broadway,
New York, NY 10019.

Page C-3
NOTE.—Major data revisions:
Manufacturers' machinery and equipment sales and business construction expenditures (BCI-69)—
see note for page C-2.




Change in manufacturing and trade inventories (BCI-31) has been revised by the source from 1982
forward to incorporate revised data on manufacturing inventories. For further information, contact the
U.S. Department of Commerce, Bureau of the Census, Business Division, Washington, DC 20233.
* Preliminary July 1993 value: BCI-23 = 257.2.
1. Copyrighted. This series may not be reproduced without written permission from Knight-Ridder
Financial Publishing, 30 South Wacker Drive, Suite 1820, Chicago, IL 60606-5271.

Page C-4
* Preliminary July 1993 values: BCI-122 = 57.7, BCI-123 = 65.4, and BCI-85 = 0.93.
1. Copyrighted. This series may not be reproduced without written permission from the University
of Michigan, Survey Research Center, P.O. Box 1248, Ann Arbor, Ml 48106-1248.
2. Copyrighted. This series may not be reproduced without written permission from the American
Bankers Association, 1120 Connecticut Avenue, NW, Washington, DC 20036.

Page C-5
* Preliminary July 1993 values: BCI-119 = 3.07, BCI-114 = 3.04, BCI-116 = 7.37, BCI-115 = 6.34,
BCI-117 = 5.55, BCI-109 = 6.00, BCI-19 (1941-43=10) = 447.29, BCI-19 (1967=100) = 486.6, BCI-748
= 1,406.4, BCI-745 = 316.8, BCI-746 = 932.4, BCI-742 = 1,338.0, BCI-747 = 391.4, BCI-743 = 449.3,
BCI-750 = 94.44, BCI-758 = 108.22, BCf-755 = 1.7115, BCI-756 = 5.8273, BCI-752 = 0.6680, BCI-757
= 1,579.58, and BCI-753 = 1.2813.
1. Balance of payments basis: Excludes transfers under military grants and Department of Defense
sales contracts (exports) and Department of Defense purchases (imports).
2. Organisation for Economic Co-operation and Development.
3. This index is the weighted-average exchange value of the U.S. dollar against the currencies of
the other G-10 countries plus Switzerland. Each country is weighted by its 1972-76 global trade. For a
description of this index, see the August 1978 Federal Reserve Bulletin (p. 700).
4. This index is compiled by the Center for International Business Cycle Research (CIBCR), Graduate
School of Business, Columbia University, New York, NY 10027.
5. For an explanation of this index, see "The Composite Index of Coincident Indicators and Alternative
Coincident Indexes" in the June 1992 SURVEY.

SURVEY OF CURRENT BUSINESS

July 1993

CYCLICAL INDICATORS
Composite Indexes
Aug. Apr.
P T

Apr. Feb.
P T

Jan. July July Nov.
PT
P
T

July Mar.
P T

Index: 1982=100
Compi site in dex of 11 leading indicators
,3^,83,^2,99,

92Q. Composite ihde
(series 41,

4 coil client indicators

index of 7 lagging ifidicatQrs
95,101,109,120)

ident index lolagg

11 i l i t i

11 i l l 11

M i l 111

111 III 1 1i l l 111

11 i l l 11

11111 11

t i l l 11

111111

i n1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

1111 1 i t

m i n i

1956 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 88 89 90 91 921993
NOTE.—The numbers and arrows indicate length of leads (-) and lags (+) in months from business
cycle turning dates. Current data for these series are shown on page C-1.




•

C-7

C-8

• July'1993

SURVEY OF CURRENT BUSINESS

CYCLICAL INDICATORS
Composite Indexes: Rates of Change
Aug. Apr.
P T

Dec. Nov.
P T

Apr. Feb.
P T

Nov. Mar.
P
T

910:. Composite ndex i if 11 leading

Jan. July July Nov.
PT
P
T

July Mar.
P T

Percent change over 3-month span, annual rate

. Composite index of 4 coinclden

Composite ir dex of 7 lagg

Composite Indexes: Diffusion
950. Diffusion index of 1 leading indicator components

Percent of components rising over 6-month span

Diffusion mdiix of 4(cotnci lent indicator comp

Diffusion index of 7

111 iii i il 11 il i i r l 111 li 1 1 1 1 1 1 1 1 n I
1956 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 88 89 90 91 921993
NOTE.—Current data for these series are shown on page C-1.




July i99i

SURVEY OF CURRENT BUSINESS

CYCLICAL INDICATORS
Composite Indexes: Leading Index Components
Aug. Apr.
P T

Dec. Nov.
P T

Apr. Feb.
P T

Nov. Mar.
P
T

Jan. July July Nov.
PT
P
T

W^WM

weekly hours of pro Juctio iOrnohsuperyisory worker

5. Ave rage weekly i utial cl aims v <r uner iployrr ent

Stai e prod 'ams (i housands—inverted scale)

materials ndustres

vendor performance- -slower deliveries d iffusio 1 index (percent)

20. Contracts and. order for plant anc equip nent

I I i I! I I] I I I I I I I I I I I I I I 1 I I I I I I I I I I I! I I I I I I I itI 111111111111 It11111
I I

I I I I I I I I I I I I I | t l-f I M I M I I I I i

1956 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 88 89 90 91 921993
NOTE.—Current data for these series are shown on page C-1.




• C-9

C-10 • /u/yi993

SURVEY OF CURRENT BUSINESS

CYCLICAL INDICATORS
Composite Indexes: Leading Index Components—Continued
Aug. Apr.
P T

Apr. Feb.
P T

Dec. Nov.
P
T

July Mar.
P T

Jan. July July Nov.
PT
P
T

s authorize by I >cal building wrmlts (index: 1967=100) |_,L,L
ilding

l l i i i f f

i f i i i i i i i i a i i i i

• • •

• i • i

I I I I I I I

( i i i r i i

I I I I I I I I

t , f - t l l l l l i i | i i i | 4 - T ( i l i l l

M

f

f

l

l

l

i

l

l

l

l

l

l

l

i

t

J

I

I

I

I

I

f

l

f

l

l

l

l

l

l

l

M

I

I

I

I l l l l l l l t l l l l l l l l f f f - l l l l l l l l l l l

1956 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 88 89 90 91 921993
1. This series is smoothed by an autoregressive-moving-average filter developed by Statistics Canada.
2. This is a copyrighted series used by permission; it may not be reproduced without written permission
from the University of Michigan, Survey Research Center.




NOTE.—Current data for these series are shown on page C-1.

SURVEY OF CURRENT BUSINESS

July 1993

•

CYCLICAL INDICATORS
Composite Indexes: Coincident Index Components
Aug. Apr.
P T

Apr. Feb.
P T

Dec. Nov.
P T

Nov. Mar.
P
T

Jan. July July Nov.
PT
P
T

July Mar.
P T

1956 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 88 89 90 91 921993
NOTE.—Current data for these series are shown on page C-1.




C-ll

C-12

SURVEY OF CURRENT BUSINESS

July 1993

CYCLICAL INDICATORS
Composite Indexes: Lagging Index Components
Aug. Apr.
P T

Apr. Feb.
P T

Nov. Mar.
P
T

Jan. July July Nov.
PT
P
T

July Mar.
P T

Average durp&n of unem aloym<rnt(we eks—irtvertec

manuraeturir g and rade ir vento

cost per mil of output,

Average prirm srate
Lg,LgLg

ann. rate, pefceift)

by baws (percent)

Commercial and industrial oanscutsta

tcutstanjingto

120. Change in Consumer
(ann. rate, percent)

Index'for services,

1956 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 88 89 90 91 921993
1. This series is smoothed by an autoregressive-moving-average filter developed by Statistics Canada.
NOTE.—Current data lor these series are shown on page C-1.




July 1993

SURVEY OF CURRENT BUSINESS

•

C-13

CYCLICAL INDICATORS
Employment and Unemployment
Nov.
P

Dec. Nov.
P
T

Mar.
T

Jan. July
P T

July
P

Nov.
T

JulyMar.
P T

21 Averag< i weekly jvertime hours 01 product on
<

32-1

46. Help-wanted advertising in neWspapersj(index: 1067=100
L,Lg,U

180-]
160140-

120100-

220200-

48. Employee hours in noiagricuti oral establishments (arm. ate, bil.liours)

180-

160
140

40. Employees «!i nonagricultural payrolls

J

go«ii roducing industries (millions)
28
26
24
22

64 -,

90. Ritio, civilian empli yment t( population of working ag (percen

62605856-

43. Civil an unemployment rate (percent—ir verted scale)
357911 -

1965 66

67 68

69 70

71

72

73

74

NOTE.—Current data for these series are shown on page C-2.




75

76

77 78

79

80

81 82

83

84 85 86

87 88

89

90 91

92 1993

C-14

•

July 1993

SURVEY OF CURRENT BUSINESS

CYCLICAL INDICATORS
Output, Production, and Capacity Utilization
Jan. July July Nov.
P T
P
T

Dec. Nov.
P T

July Mar.
P T

domes icprodutt in

74. Industrial production nondurable manufactures (irate

production, durable manufactures (index

, consumer goods (index

82. Capacity utiliz ation rat;, manufacturing

,,
,!
1965 66

, 1 , , , ,, , I . , , 1 , , , I, ,,I , ,,!., . 1 , , , I, , , I , , ,1 , , ,1 , , , I, , , , , ,
,!
I, ,, ,,,I ,,, I , , , I , , , ,,, I , , . ! , , , 1 , , ,
6 7 6 8 6 9 7 0 71 7 2 7 3 7 4 7 5 7 6 7 7 7 8 7 9 8 0 81 8 2 8 3 8 4 8 5 8 6 8 7 8 8 8 9 9 0 9 1 9 2 1993

NOTE.—Current data for these series are shown on page C-2.




July 1993

SURVEY OF CURRENT BUSINESS

•

C-15

CYCLICAL INDICATORS
Sales and Orders
Dec. Nov.
P
T

Nov.
P

Mar.
T

59. Sales of retail

Jan. July
P T

3S in 1987 dollar
I U,L,U

July
P

Nov.
T

.dol.)

July Mar.
P T

T

160 -1
140120100-

8060-

140-

7. Manufacturers' new orders in 1982 dol ars, dureblegocKis industries (bil. dol.)

120100-

,*-Wvwi
IJJLL

8060-

Wages and Consumer Attitudes
salaries in 1987 liars, rriinlng.manufactu ing
(ann. rate, bil. dol.)

he Conference Board (ind<»

1965 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88
NOTE.—Current data for these series are shown on pages C-2 and C-4.




90 91 92 1993

C-16

•

SURVEY OF CURRENT BUSINESS

July 1993

CYCLICAL INDICATORS
Fixed Capital Investment
Dec. Nov.
P
T

Nov.
P

Jan. July
P T

Mar.
T

July
P

July Mar.
P T

Nov.
T

12. Net lusiness formation (index

lI

160140120100-

h

13J Number of new business ncorpon tions (thousands
L,L,L

7060504030-

20-

60-

Manufacturers ' new orders in
i
nor defense capital goods md jstries
L,L,L

504030-

20-

10 J

Construction contracts awarded for commercial and industrial
buildings' {(mil. sq. ft. of floor space; term mjoving avg.)
100-

80-

60-

40-

1 . . . i . . .

1965 66

67 68

69 70

71

i . . .

i . . . » . . .

72 73

74

i . . .

i . . . . . .

75 76

i . . . . . .

77 78

1. This is a copyrighted series used by permission; it may not be reproduced without written
permission from McGraw-Hill Inlormation Systems Company, F.W. Dodge Division.




i

79 80

1 . . . . . .

81

82

i . . .

i . . .

i . . .

i . . .

i

83 84 85 86 87 88

90

NOTE.—Current data for these series are shown on page C-2.

91

92 1993

41

8

July 1993 •

SURVEY OF CURRENT BUSINESS

CYCLICAL INDICATORS
Fixed Capital Investment—Continued
Dec. Nov.
P
T

Nov.
P

Mar.
T

Jan. July
P T

July
P

Nov.
T

JulyMar.
P T

ipment expenditures by business

69. Manufacturers' machinery and equipment sales and
business constr uction expendffu

76. Industrial production,

Gross private IK mresidential fixes investment in 1987 dollar

111

i

1 11 11 11

1 1\\

11 i i 1 1 1 11 11

1 1 11 11 11 1 1 1

t t l I 1 If

I t

I II

I I I

I I l I I I I

I I I

1965 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 1993
1. Dotted line represents anticipated expenditures.
NOTE.—Current data for these series are shown on pages C-2 and C-3.




C-17

C-18

• July 1993

SURVEY OF CURRENT BUSINESS

CYCLICAL INDICATORS
Fixed Capital Investment—Continued

rate, millions)! I LL,L

housing units

89. Grass private residential fixed investnent in 1987 dollars, Q
(aim. rate, bil.dol.)

Inventories and Inventory Investment
in business inventories in 1987 dollars, Q

nufacturing and trade inventories
dol.; 6-term mov

11111111

111111111111111 111111111

It11

11111111111111111111111

1111111 1111111111

1965 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 8 82 83 84 85 86 87 88 89 90 91 92 1993
1
NOTE.—Current data for these series are shown on page C-3.




SURVEY OF CURRENT BUSINESS

July 1993

•

C-19

CYCLICAL INDICATORS
Prices and Profits
Dec. Nov.
P
T

Jan. July
P T

July
P

Nov.
T

July Mar.
P T

400 -i
350300250200150-

100

J

280-i
240200160120-

Corporale profits aftertax n current dollars Q (ann. ate, bil. lol.)

80-

40

22. Ratio, corpoiate domestic profits after tax to corporate d< mestic
incqme, Q (percent)

141210864-

Ratio, corporate domestic profits after tax with IVA ndCCAJjto
corporate dome tic income, Q (percent)

2-

26. Rat b, implic t price d jflator to unit labc r cost, nonfarm business
seel or, Q (index: 1982=110}

108-i
106104102100-

,,, i , , ,
1965 66

67 68

70

, , , i . . . 1 . I , I , ,, i , , , i > , , i m i , . ,

, , . . ] » . ' i i , , , i,

71

73

81

72

74

75

76

IVA Inventay valuation adjustment. CCAdj Capital consumption adjustment.
NOTE.—Current data for these series are shown on pages C-3 and C-4.




77

78

79

80

82

83

84

85 86

87

88

89

90

91

92 1993

1. From June 1981 forward, this is a copyrighted series used by permission; it may not be
reproduced without written permission from Commodity Research Bureau, Inc.

J

C-20

•

July 1993

SURVEY OF CURRENT BUSINESS

CYCLICAL INDICATORS
Money, Credit, and Interest Rates
July
P

Nov.
T

July Mar.
P T

July
P

Nov.
T

July Mar.
P T

Change in money supply M1 percent)1

1917-

2.01.61.2-

1513-

0.8-

11-

0.40.0-

9-

-0.4-

7"

-0.8-

53-

102. Change in iqoney supply M2

12.0-1
1.61.2-

114.' Discount rate on new is
of 91-day Treasury bills (percent)

15-

0.8-

13-

0.4-

11-

0.0-

9-

-0.4-

112. Net change in business
(ann. rate, bil. dol.)1

75-

120-

3-

80-

1-

400^»0-

116. Yield on new issues of high-grade
corporate bonds (percent)
*"

1715-

-80-

13-

-120-

11-

113. Net change in consumer install
credit! i (ann. rate, bil. dol.)'

9-

120-

780400-40-

115.! Yield on long-term Treasury bonds (percent)
1513-

800-j

11600-

9-

400-

75-

200-

..

110. Funds raised by private nonfinanciat borrowers
in credit markets, Q (ann. rate, bil. dol.) \ | L,L,L |
.I.,
i , , , I , . , i . , . l . . , i, , , i . , , i.,,, L , , ! , , , l , ,

1981 82

83 84

85

86

87

88

90

91

1. The heavy line is a centered 6-tercn moving average.
NOTE.—Current data for these series are shown on pages C-4 and C-5.




92 1993

0I , , • I . . . I , I I I . , , I . . . i . . . I . . . I . . . I . . A.L I I I

1981 82 83 84 85 86 87 88 89 90 91 92 1993

.32

SURVEY OF CURRENT BUSINESS

July 1993

CYCLICAL INDICATORS
Alternative Composite Indexes
Jan. July
P T

July
P

Nov
T

CIBCR leading indexes— I

990. Long-leading index (1967=100)

991. Short-leading index (1967=100)

! BEA coincident indexes-:
992. Modified methodology1 (1982=100)

993. Stock and Watson methodology1 (Aug. 1182=100)

L I

n i l i j j J i i i l u

J

JJ J t L I I I I l A l ±

d I 1I lj_LJ I I 1_L1_L1J_1 • • • U ' . l

I I ,,, 1 1 1 I i . MI 1 n i l

i l lM i l ,

i l lm l ,

n

li i l l , n i l

I , 1i n

1965 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 1993
CIBCR Center for International Business Cycle Research (Columbia University).
1. See "The Composite Index of Coincident Indicators and Alternative Coincident Indexes," SURVEY
OF CURRENT BUSINESS 72 (June 1992): 4245.




NOTE.—Current data for these series are shown on page C-5.

•

C-21

C-22

•

July 1993

SURVEY OF CURRENT BUSINESS

OTHER IMPORTANT ECONOMIC MEASURES
Prices
Other Measures
July
p"

Nov.
T

July Mar.
P T

July
P

JulyMar.
P T

Nov.
T

I

311c. Fixed-weighted price index, gross i
I domestic business product (1-Qfoam

108642-

11
6-month span
Consumer Price Indexes for all urban consumers—
320c. All items

Government surp us or deficit

1<
I JO

ener
323c. All items less food and energy

J C
O

CO

Producer Price Indexes-336c. Finished gdods

20-

Change in output per hour

10-

0-

10-

-10-

5-

337c. Finished goods less foods and energy
20100-10-1

Finished consumer goo< s

20100-10-

0-40-80-120-160-200-240-280-320-

0-5564. Federal Goverr iment pu chases' or national
defense, Q (an 1. rate, b I. dol.)

20100-

400350300250200150-

-10-

332c. Intermediate materials, supp ies, and com jonents
2010-

0-

650620. Merchandise imports, adjusted
mil tary, Q (ann. rate bil. dol.

550-

-10-

450-

40-

Crude materials f >r
further processing

350-

3020-

250-

10-

0-

-10-20-301 1 1 I 1 t1

1981 82

1 1 1 I1 1 1

83 84

1 1 i I11 1

85 86

1 1 1 I1 1 1 I 1 1 1 I 11 1

87

88

89

90

91

1 1 I 11 1 I 1 1 1

92 1993

NOTE.—Current data for these series are shown on pages C-3, C-4, and C-5.




.

618. Merchandise exports, adjusted,
excluding military, Q (ann. rate, bif. dol.)

I 1 i .1 I 1 1 i I i i 1 I 1 1 1 I 1 1 1 I 1 1 1 I 1 1 1 I L j . i I 1 i i I 1 1 1 I I1 I I II I I I
11

1981 82 83 84 85 86 87 88

90 91 92 1993

150 J

July 1993

SURVEY OF CURRENT BUSINESS

•

C-23

OTHER IMPORTANT ECONOMIC MEASURES
International Industrial Production
International Consumer Prices
July
P

Nov.
T

July
P

July Mar.
P T

Nov.
T

Percent change over 6-month span, annual rate
2010-

S
CO

0-

)ECD European countries
738c. Japan

10-

0-

-10-

735c. Federal Republic of Germany

100-

-102010-

<
CD
"CO

03020CD

732c. United Kingdom
10-

S

0-

302010TV~V..

0-

2010-

oI I I I I I I I I I I I I M I I I I I I I I I I I I I I I <! M I I I I I I I

1981 82 83 84 85 86 87 88 89 90 91 92 1993
NOTE.—Current data lor these series are shown on page C-5.




1981

82

83

84

85 86

87 88

90

91

92 1993

< '
CD

15

C-24

SURVEY OF CURRENT BUSINESS

July 1993

OTHER IMPORTANT ECONOMIC MEASURES
International Exchange Rates
International Stock Prices
July
P

Nov.
T

July
P

JulyMar.

Nov.
T

P

T

750. Weighted-aVerage exchange val ue of U.S. do!
1973=100)

Stock prices—

758. Ja >an (yen

TSSTFeaeraTTIiiuBrcof

Frarce (franc

Kingqom
(potiirid)

757.1lalyimrfl

753. Canada (dollar)

II

I M IM I I I I I I I I I

I I I I I I I I I I I I I f'J t I I I

I I II I II

1981 82 83 84 85 86 87 88 89 90 91 92 1993
NOTE.—Current data for these series are shown on page C-5.




II I I I I

III IIII

II I I I I I II II I II I II I IIM l I II I II II

1981 82 83 84 85 86 87 88 89 90 91 92 1993

S-l

SURVEY OF CURRENT BUSINESS

July 1993

CURRENT

BUSINESS

STATISTICS

Series originating in Government 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.
Current and historical data for the series shown in the S-pages are available on diskettes, printouts, and the Commerce
Department's Economic Bulletin Board. Historical data, data sources, and methodological notes for each series are published
in BUSINESS STATISTICS, 1963-91. For more information, contact the Business Statistics Branch, Business Outlook Division
(BE-52), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230. (Telephone: (202) 606-5367;
fax: (202) 606-5313.)

NOTE.—This section of the SURVEY is prepared by the Business Statistics Branch.
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown in
BUSINESS

STATISTICS, 1953-91

1992

Annual
1991

1992

May

June

July

Aug.

1993
Sept.

Oct.

Jan.

Nov.

Feb.

Mar.

Apr.

May

1. GENERAL BUSINESS INDICATORS
PERSONAL INCOME BY SOURCE t
[Billions of dollars]
Seasonally adjusted, at annual rates:
Total personal income
Wage and salary disbursements, total
Commodity-producing industries, total
Manufacturing
Distributive industries
Service industries
Government
Other labor income
Proprietors' income: ?
Farm
Nonfarm
Rental income of persons with capital consumption
adjustment
Personal dividend income
Personal interest income
Transfer payments to persons
Less: Personal contributions for social insurance ...
Total nonfarm income

4,828.3

5,058.1

5.032.7

5,038.5

5,048.7

5,056.4

5,080.9

5,145.0

5,143.7

5/94.0

5,223.1

5,229.0

5,260.8

'5,271.0

'5,298.7

5,296.2

2,812.2
737.4
556.9
647.4
883.9
543.6
288.3

2,918.1
743.2
565.7
666.8
945.5
562.5
305.7

2.907.6
745.3
566.3
664.7
936.3
561.3
303.6

2,905.7
742.8
564.2
6631
935.7
564.1
305.0

2,911.2
742.7
566.1
663 8
940.7
564.1
306.4

2,930.9
743.5
565.3
668 3
954.5
564.6
307.9

2,928.3
740.9
565.0
670 9
952.1
564.3
309.3

2,951.3
749.2
571.2
672 5
960.1
569.5
310.8

2,967.8
746.9
568.6
679.9
972.5
568.5
312.2

2,990.6
755.6
578.4
675.1
989.0
570.9
313.6

3,010.1
751.0
574.3
681.2
996.1
581.9
315.1

3,004.7
756.7
577.6
688.4
983.3
576.4
316.5

3,002.6
755.6
577.6
685.4
985.1
576.4
318.0

'3,015.6
'759.7
'579.8
'685.9
'991.6
578.3
319.4

'3,046.5
'762.5
'579.4
'695.8
'1,007.8
'580.3
320.8

3,042.4
758.4
578.7
691.3
1,010.4
582.3
322.3

35.8
332.2

39.5
364.9

36.1
359.2

31.4
361.9

30.6
363.8

24.9
363.8

39.1
369.9

55.4
376.7

39.3
380.0

49.4
384.4

38.4
388.9

45.5
389.0

74.7
389.1

'57.7
'391.9

'46.8
'395.0

40.6
396.3

-10.4
137 0
700.6
771.1
238.4
4,770.4

4.7
139 3
670.2
866.1
250.6
4,995.8

3.3
136 6
675.2
860.9
249.8
4,973.9

8.0

9.6

137.9
674.4
864.1
249.9
4,984.4

139.5
668.6
869.4
250.5
4,995.3

3.6
141.3
663.1
872.8
252.0
5,008.7

6.1
142.3
657.8
880.0
251.9
5,018.9

13.5
143.8
657.7
889.2
253.4
5,066.4

13.4
145.3
657.8
882.6
254.7
5,081.1

14.0
148.2
657.9
892.1
256.3
5,121.3

17.7
149.6
656.9
906.8
260.3
5,161.2

20.3
149.9
656.3
907.3
260.5
5,159.9

15.2
150.1
655.9
915.5
260.2
5,162.5

'23.7
150.3
'655.3
'918.0
'261.0
'5,189.6

'24.3
150.6
'654.9
'922.5
'262.7
'5,228.2

25.9
151.0
654.6
925.4
262.2
5,231.9

4,828.3
618.7
4.209.6
4,009.9
3.887.7
446.1
1,251.5
2,190.1
112.5

5,058.1
627.3
4.430.8
4,218.1
4.095.8
480.4
1,290.7
2.324.7
112.1

5,032.7
617.6
4,415.1
4,174.9
4,052.6
468.6
1,280.3
2.303.7
111.9

5,038.5
619.0
4.419.5
4.200.9
4.078.7
480.5
1,278.3
2,319.9
111.8

5,048.7
624.1
4,424.6
4,222.0
4,100.6
479.8
1,289.2
2,331.6
111.4

5,056.4
630.1
4,426.3
4,214.0
4,092.8
483.2
1,293.9
2,315.8
111.2

5,080.9
632.2
4,448.7
4,253.8
4,132.6
484.6
1,295.4
2,352.6
111.2

5,145.0
639.1
4,505.9
4,296.7
4,175.2
499.5
1,314.9
2,360.8
111.1

5,143.7
643.3
4,500.4
4,308.4
4,186.7
490.9
1,316.6
2,379.1
111.3

5,194.0
648.5
4,545.4
4,345.5
4,222.5
506.9
1.324.1
2,391.5
112.6

5,223.1
656.8
4,566.3
4,353.6
4,229.8
514.0
1,319.2
2,396.7
112.7

5,229.0
655.8
4,573.2
4.370.1
4,246.0
493.0
1,330.0
2,423.0
113.1

5,260.8
655.3
4,605.4
4,352.6
4.228.2
489.5
1,313.1
2.425.6
113.4

'5,271.0
'659.2
'4,611.8
'4.405.7
'4,281.7
'510.2
'1,329.7
'2,441.8
'113.4

'5,298.7
'666.3
'4,632.4
'4,420.9
'4,297.5
'522.3
'1,327.7
'2,447.5
'112.8

5,296.2
667.0
4,629.3
4,447.5
4.323.9
525.5
1,331.7
2,466.7
113.0

DISPOSITION OF PERSONAL INCOME t
[Billions of dollars, unless otherwise indicated]
Seasonally adjusted, at annual rates:
Total personal income
Less: Personal tax and nontax payments
Equals: Disposable personal income
Less: Personal outlays
Personal consumption expenditures
Durable goods
Nondurable goods
Services
Interest paid by persons
Personal transfer payments to rest of the world
(net)
Equals: personal saving
Personal saving as percentage of disposable
personal income §
Disposable persona! income in constant (1987)
dollars
Personal consumption expenditures in constant
(1987) dollars
Durable goods
Nondurable goods
Services
Implicit price deflator for personal consumption
expenditures, 1987=100

9.7

10.3

10.4

10.4

10.0

10.0

10.0

10.4

10.4

10.4

11.0

11.0

11.0

'10.6

'10.6

10.6

199.6

212.6

240.2

218.6

202.6

212.3

194.9

209.2

192.0

199.9

212.8

203.1

252.9

'206.1

'211.5

181.8

4.7

4.8

5.3

5.0

4.8

4.6

4.6

4.4

4.4

4.4

4.5

4.9

4.8

'4.8

4.3

3,509.0

3,585.1

3.578.6

3,576.1

3.574.4

3,585.5

3,581.7

3,613.4

3,604.0

3,637.1

3,639.9

3,634.3

3,652.6

'3,646.7

'3,658.7

3,655.6

3,240.8
414.7
1,042.4
1,783.7

3,314.0
439.1
1,054.1
1,820.7

3.284.8
427.6
1,048.8
1,808.4

3,300.3
438.6
1.043.6
1,818.2

3.312.6
437.8
1,051.2
1,823.7

3,315.3
440.0
1,052.4
1,822.9

3,327.2
441.5
1.052.5
1,833.2

3.348.2
453.9
1,066.7
1,827.6

3,352.7
446.6
1,068.2
1,837.9

3,378.7
462.6
1,073.2
1,843.0

3,371.7
466.9
1.064.7
1,840.0

3.374.3
448.4
1,068.0
1,858.0

3.353.5
445.3
1,053.9
1,854.2

'3,385.7
'461.1
'1.066.7
'1,858.0

'3.394.2
'471.6
'1,066.0
'1,856.5

3,414.5
473.7
1,073.0
1,867.7

• 120.0

123.6

123.4

123.6

123.8

123.5

124.2

124.7

124.9

125.0

125.5

125.8

126.1

126.5

126.6

126.6

INDUSTRIAL PRODUCTION 0
[1987=100]
Not seasonally adjusted:
Total index

104.1

106.5

105.3

107.8

105.7

109.1

108.9

109.2

108.0

107.1

107.6

109.4

'109.4

'108.3

'108.9

112.1

By industry groups:
Mining
Utilities
Manufacturing
Durable
Nondurable

100.4
112.2
103.7
103.8
103.5

97.6
112.0
106.9
108.1
105.4

96.9
100.0
106.5
108.5
104.1

96.0
103.8
109.3
110.3
108.0

96.1
112.6
106.0
105.6
106.4

97.1
110.9
110.1
110.3
109.8

97.2
105.6
110.3
110.5
110.2

99.0
102.0
110.9
112.3
109.1

100.4
109.6
108.6
110.9
105.7

98.8
127.7
106.0
109.2
102.0

98.4
133.4
106.1
109.1
102.4

97.3
129.2
108.8
113.0
103.6

95.4
121.2
109.6
'114.2
'104.0

'95.7
'108.4
'109.5
'113.3
104.9

95.2
'103.4
'110.7
114.9
'105.5

95.3
109.8
113.9
117.6
109.4

Seasonally adjusted:
Total index

104.1

106.6

106.7

106.0

106.8

106.6

106.2

107.5

108.4

108.9

109.3

109.9

110.1

'110.4

'110.3

110.1

109.5
'112.8
'108.3

'109.4
'112.6
'107.9

109 1
112.2
1071

By market groups:
Products, total
Final products
Consumer goods
See footnotes at end of tables.




103.2
105.4
102.9

105.7
108.3
105.2

105.7
108.3
105.8

104.8
107.1
104.0

105.7
108.1
104.9

105.9
108.9
105.1

105.3
108.1
104.4

107.1
110.1
106.4

107.8
111.0
107.1

108.2
111.5
107.5

108.5
111.9
107.6

109.2
112.4
108.5

109.5
'112.7
'108.6

S-2

• July 1993

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS

1993

1992
1992

STATISTICS, 1963-91

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Mar.

105.7
104.1
102.9
107.1

107.9
108.7
111.7
107.2
107.4
104.8
96.0
121.7
100.9
114.4

110.9
112.7
116.8
109.3
106.7
104.6
95.7
122.4
100.2
109.5

111.3
111.9
114.6
110.7
107.7
105.5
95.0
121.1
101.8
115.5

Apr.

May

"111.5
111.2
113.4
"111.7
"107.7
"104.3
94.6
"123.7
102.1
"116.0
"118.7
"133.4
"149.1
"203.3
"113.7
145.0
135.9
"80.7
71.1
116.2
99.6
"96 4
101.8
110.9
"114.1
"112.8
103.5

"112.1
"112.1
114.3
"112.0
"107.2
"104.6
"94.8
"123.1
"101.7
"111.7
"119.4
"134.4
"150.4
"209.1
"114.6
"144.2
136.2
"80.5
72.4
114.9
"99.6
"95 9
"102.0
"111.6
"114.8
113.8
"103.8

"110.8
"109.3
110.1
"112.1
"107.0
"104.4
"94.6
"122.7
"101.2
"112.6
119.5
"134.7
"152.4
"214.9
"114.7
"141.2
133.1
"79.8
75.1
"112.1
99.6
"96.9
"101.4

1. GENERAL BUSINESS INDICATORS-Continued
INDUSTRIAL PRODUCTION O-Continued
[1987=100]
Seasonally adjusted—Continued
By market groups—Continued
Final products—Continued
Consumer goods—Continued
Durable
Automotive products
Autos and trucks
Other durable goods
Nondurable
Foods and tobacco
Clothing
Chemical products
Paper products ...
Energy products .
Equipment, total
Business equipment
Information processing and related
Office and computing machines .
Industrial
Transit
Autos and trucks

95.4
90.3
85.2
99.9

102.6
99.5
97.0
105.2

105.6
102.9
102.1
107.9

102.0
99.0
96.5
104.6

105.0
104.1
93.2
115.3
101.8
108.2

106.0
104.8
95.1
118.8
100.8
108.1
112.8
123.3
134.6
168.0
108.5
137.6
118.1

104.6
103.3
94.5
117.6
100.6
105.2

105.5
105.3
107.1
104.6

86.0
78.0
100.4
97.6
93.9
100.1
107.9
109.0
111.0
103.4

105.9
104.7
95.7
118.1
101.0
107.8
112.0
122.1
131.4
162.1
108.4
136.9
123.3
87.2
75.4
92.5
97.9
95 3
99.6
108.0
109.0
111.5
103.3

100 4
156.7
109.3
96.0
89.1
107.0
94.2

97.6
161.8
105.5
92.6
85.7
106.7
93.8

111.9
1127
109.0
103.7

111.:.
111.6
112.9
106.9
108 2
96 4
98.9
95.9
101.2
104.8
96.2
96.8
124.9
120 0
102.7
105.0
104.3
105.4
106.0
99 6
104.7
92.6
108.2
95.0
115.0
102.0
109.7
92.5

109.0
115.8
120.6
137.3
106.2
134.2
105.4
91.7
93.9
77.9
96.5
90.8
100.4

Defense and space equipment
Oil and gas well drilling
Manufactured homes
Intermediate products
Construction supplies
Business supplies
Materials
Durable
Nondurable
Energy
By industry groups:
Mining
Metal mining
Coal
Oil and gas extraction #
Crude oil
Natural gas
Stone and earth minerals
Utilities
Electric
Gas
Manufacturing
Durable
Lumber and products
Furniture and fixtures
Clay, glass, and stone products
Primary metals
Iron and steel
Nonferrous
Fabricated metal products
Machinery and computer equipment
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments
Nondurable
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

103 9
90.5
94.0
92.6
98.5
100 7
95.5
95.0
113.8
1128
102.0
94.8
105.4
103 5
105.3
96.7
96.9
91.8
106.2
' 96.8
111.3
101.6
104.5
87.9

111.6
121.9
134.3
167.3
108.7
133.9
117.2

102.8
98.8
95.3
106.3
105.5
105.0
95.1
117.3
100.1
106.3
112.7
123.7
137.4
171.8
109.1
135.3
114.2

86.5
73.1
90.1
97.7
93.6
100.6
107.8
108 7
111.5
103.1

108.5
109 3
111.5
104.4

98 8
172.2
109.5
92.5
85.5
107.0
96.9

971
157.8
101.9
93.1
86.2
108.4
92.7

98 5
156.5
108.0
93.6
85.7
111.1
94.1

111.2
1108
112.6
107.1
108.4
96.1
101.0
97.4
101.1
1048
95.9
97.2
123.2
1195
104.5
107.9
105.1
105.4
106.1
97.9
105.0
93.5
108.2
94.5
114.8
102.5
110.3
91.8

110.0
109 5
112.0

111.2
110.8
112.8
107.1

106.5
107.6
93.8
94.2
95.6
101.2
103 8
97.5
97.1
123.8
1193
102.7
104.8
104.4
105.2
105.4
96.4
103.8
91.7
108.7
95.6
114.9
101.8
109.7
92.3

85.1
73.8
101.3
98.6
94.3
101.4

108 2
96 6
97.5
96.8
100.6
104.7
95.0
97.0
125.7
120.7
101.4
103.1
104.9
105.7
105.9
101.5
107.0
92.7
109.1
95.7
114.6
101.5
110.7
93.6

101.9
99.5
96.0
104.0
106.0
107.0
94.0
116.5
100.2
105.6
114.3
126.1
138.5
173.7
109.2
143.3
117.3
84.5
75.6
96.9
97.0
941
99.0
107.6
108 9
110.7
102.5

100.9
97.3
93.5
104.1

104.1
103.1
101.5
104.9
107.1
105.9
94.5
121.1
100.1
111.1
115.4
127.5
142.2
183.1
110.1
137.4
121.7

111.6
"115.0
"113.7
"103.6

108.4
106.0
104.9
110.5
106.7
103.7
94.1
122.3
101.4
112.9
119.6
134.9
153.9
220.3
114.6
136.9
127.3
78.8
82.4
112.3
99.5
96 3
101.6
111.6
114.9
113.9
103.5

"96.4
"163.2
108.2
90.5
"81.4
108.3
"92.4

96.9
"170.7
"103.8
"91.5
"82.5

96.3
167.6
99.5
91.8
82.0

'94.3

93.6

117.8
116.3
123.3

"115.0
"114.5
116.7

"114.9
"114.6
116.2

"110.8
"114 1
"98.0
"107.3
"98.6
104.2
107.6
"99.4
100.3
"139.6
"128.5
"106.9
120.1
"103.3
"106.6
"106.7
"92.4
"105.4
92.1
111.1
94.7
117.6
104 7
"112.9
"99.1

"111.3
"1148
"97.4
"108.1
"99.8
"104.3
"108.4
98.6
"101.0
"142.5
"128.6
"107.0
"120.9
"102.5
"107.0
"106.8
"96.2
"104.3
"92.0
113.2
94.9
"117.7
"104.3
"113.4
"100.2

"111.2
"114.7
"97.9
"107.8
"98.8
"104.1
"108.2
"98.5
"100.2
"143.9
129.4
"105.6
119.0
"102.3
"106.9
"106.1
"98.1
"105.4
"91.6
"112.8
"94.5
"118.1
"105 7
"112.9
"98.0

116.4
116.3
116.9
110.8
114.3
95.8
108.3
98.8
104.1
108.4
98.2
100.3
145.0
129.2
103.6
116.0
101.6
106 6
105.3
98.0
104.7
91.0
112.3
94.8
118.4
104 7
112.2
96.2

"520,956 "541,140

600,305 "584,668

591,521

"581,584 "584,903

583,575 "584,943
258,979 "255,114
135,537 "132,763
123,442 "122,351
167,390 "170,538
60,723 "62,804
106,667 "107,734
157 206 "159,291
78,923 "80,159
78,283 "79,132

117.2
129.6
143.2
186.4
112.3
144.1
131.4

118.1
131.2
144.4
192.0
113.1
146.7
136.7

83.5
82.7
110.4
97.8
94.7
99.9
108.1
109.7
110.7
103.0

107.5
105.2
95.9
123.3
100.9
112.0
116.7
129.0
142.9
184.5
112.0
140.4
123.9
83.2
86.4
118.5
98.1
951
100.0
109.3
111 1
112.0
103.9

82.5
91.2
128.6
98.3
94 5
100.8
110.0
111 9
111.5
105.1

82.0
89.0
129.4
98.2
948
100.5
110.4
113.3
112.4
103.4

118.0
131.7
146.1
198.0
112.2
146.5
136.8
81.5
77.9
127.1
99.3
97 5
100.5
110.9
114.2
112.1
103.8

971
159.8
103.6
92.7
84.8
109.3
91.9

97 6
168.1
103.8
92.7
84.2
108.4
93.6

978
171.6
103.5
92.8
84.0
108.2
94.4

982
158.1
107.9
93.4
85.9
104.3
92.6

983
167.7
108.2
92.7
83.4
106.9
93.8

95.9
163.0
101.7
90.9
81.8
107.4
95.2

95.3
"158.2
102.3
90.4
82.4
106.1
"93.4

112.7
1126
113.2

112.8
112.9
112.4

117.5
116.5
121.4

108 5
96.6
99.2
95.7
100.5
1038
96.1
97.0
126.9
120 6
102.4
105.0
104.3
105 2
106.3
115.5
103.5
91.3
107.1
93.5
114.4
98 0
110.7
92.0

1081
94.7
100.5
96.5
98.0
102 0
92.4
96.5
127.9
121 5
100.5
102.6
103.7
105 2
105.6
101.7
105.1
91.5
109.5
94.1
115.2
101 1
108.5
93.8

114.7
1141
117.3
108.9
1109
99.8
102.3
97.6
101.6
103 6
98.8
97.6
132.8
124.4
103.6
109.9
103.6
106.4
106.4
101.9
106.0
92.9
108.2
94.2
117.7
103 9
111.3
96.6

116.8
1164
118.2

107.0

111.2
1109
112.0
106.8

109.2
111 8
98.0
103.9
98.0
102.4
107 4
95.7
97.8
133.8
124 8
106.3
116.2
103.3
106.0
106.2
96.1
106.0
92.7
108.3
94.7
116.7
103.4
111.3
96.7

109.9
1129
99.3
105.2
97.0
102.8
107 0
97.1
99.8
135.0
125 8
108.4
120.9
103.0
106.4
105.9
100.5
106.9
93.1
108.6
94.7
116.8
103.2
113.6
97.1

110.5
1138
101.8
106.0
98.9
108.0
112.9
101.4
99.7
136.7
127.1
107.8
120.7
102.2
106.4
106.9
99.3
106.2
92.5
110.4
94.0
116.2
104 7
112.7
99.0

97 0
165.5
103.9
91.9
84.3
108.4
93.8
110.4
1100
112.1

105.3
104.9
94.3
118.5
100.4
104.6
113.5
125.0
138.2
178.3
109.6
134.5
114.7
84.4
76.3
100.9
96.9
93 0
99.5
107.4
107.6
111.7
103.6

108.0
109 8
97 8
100.4
96.8
100.5
104 1
95.6
97.5
130.6
1226
103.0
108.0
103.7
105.8
106.8
102.4
103.5
91.7
107.3
94.5
116.2
105.3
109.9
95.1

BUSINESS SALES
[Millions of dollars]
"6,463,306 "' 6,724,590

Manufacturing and trade sales (unadj.), total
Manufacturing and trade sales (seas, adj.), total

rl

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
[Billions of constant 1987 dollars]
Manufacturing and trade sales in constant (1987)
dollars (seas adj) total §
Manufacturing
Retail trade
Merchant wholesalers

"' 2,825,838
" 1,430,028
r
1,395,810
"1,865,811
"653,953
"1,211,858
" ' 1 771 756
"859,543
"912,213

See footnotes at end of tables.




6,463,405 "'6,711,599
"'2,931,946
"1,505,806
"1,426,140
"1,956,357
"703,134
"1,253,223
"' 1,823,296
"902,424
"920,872

"557,083 "585,184 "548,420 "561,508
"551,496 "558,804 "562,699 "557,435
"241,804 "246.459 "246,259 "241,716
"123,113 "126,166 "125,083 "124,246
"118,691 "120,293 "121,176 "117,470
"161,106 "161,124 162,316 163,224
"57,432 "57,769
58,352
58,369
"103,674 "103,355 103,964 104,855
"148,586 151,221 154 124 152 495
75,644
"72,614
76,447
75,323
"75,972 "75,898
77,677
76,851

484.7
216.5
141.9
126.3

490.1
220.7
141.5
127.9

495.3
221.3
143.0
131.0

489 5
216.3
142.9
130.3

"580,782 "588,934 "566,908 "609,797
"563,694 "567,073 "569,848 "581,061
"246,078 "245,459 "248,525 "256,609
"125 873 "126,425 "128,720 "134,228
"120,205 "119,034 "119,805 "122,381
164,211 167,603 167,291 169,155
59,172
61,051
60,610
61,873
105,039 106,552 106,681 107,282
153 405 154 011 154 032 155,297
78,164
77,808
75,291
76,131
78,114
77,880
76,224
77,133

495.5
219.8
143.6
132.2

495.3
218.8
146.5
130.0

499.4
222.4
146.2
130.8

509.7
230.2
148.0
131.5

"252,845 "256,800
"130,805 "134,133
"122,040 "122,667
169,232 169,116
60,978
62,216
107,016 108,138
159,507 158 987
80,692
80,850
78,657
78,295

509.2
226.6
147.7
134.9

510.7
230.1
146.8
133.9

509.3
232.1
145.1
132.1

"506.7
"226.4
"147.5
"132.9

587,223
254,056
132,250
121,806
171,173
63,636
107,537
161 994
80,758
81,236

508.8
225.1
148.3
135.4

SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
Shown in BUSINESS STATISTICS, 1963-91

Annual
1991

July 1993

May I

June

July

Aug. |

S-3

1993

1992
1992

•

Sept. |

Nov.

Oct.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

1. GENERAL BUSINESS INDICATORS-Continued
BUSINESS INVENTORIES
[Millions of dollars]
Manufacturing and trade inventories, book value
(non-LIFO basis), end of period, (unadjusted).
total
Manufacturing and trade inventories, book value
(non-LIFO basis), end of period, (seas. adj.).
total

'824,602

"840,048

"834.331

"831.394

"836,760 "837,884 "841,630 '861,914 "867255 '840.048

"839,775

"842,979

"846.904 "854.163

'859,728

"865,577

862,627

'859,094

"833,518

"849,117

"835.685

"846,374 "849.117

"851.464

"855,216

"862,478

864,464

Manufacturing total .. .
Durable goods industries
Nondurable goods industries

"386.348
"249.117
'137,231

"379 238
"237,717
"141,521

"383 404 "382 908 "383 369 "385186 "384.013 "383 095 "381055 "379238
"244,213 "243,625 "242,976 "243,597 '242.122 "240.909 "239.407 "237.717
"139,191 "139283 "140,393 "141,589 '141.891 '142.186 "141.648 "141,521

"378898
'236.606
"142292

"379.733 '379 539 "380 307
'237,535 '236.849 "237,043
"142,198
142,690 "143,264

381611
237.759
143,852

Retail trade total
Durable goods stores
Nondurable goods stores

"245,885
"119.828
'126,057

260,647
131,549
129,098

"251,284
"125.411
"125,873

252,568
125^844
126,724

254,984
127^018
127,966

254,145
127^334
126.811

254,884
126,900
127.984

255.540
127.760
127.780

256.895
128.884
128,011

260.647
131.549
129.098

262,427
132.861
129.566

265.718
135.599
130,119

269,052 "270,311
137,803 "138,784
131,249 "131,527

270 321
137,895
132,426

201,285
128,957
72,328

209,232
134,208
75,024

"200.997
"128.707
"72,290

204,299
130,832
73,467

204,626
130,640
73,986

205,609
132,133
73,476

205.114
132,319
72.795

206.093
132 566
73.527

208.424
133.826
74,598

209.232
134208
75.024

210,139
133,648
76.491

209,765
133.705
76,060

210,503 "211,860
134,457 "134,953
"76,907
76,046

212,532
135,884
76,648

779.5
367.5
230.8
181.2

782.3
366.9
232.1
183.3

785.2
367.5
234.3
183.4

786.8
3692
233.9
183.7

784.9
367.9
234.5
182.4

784.3
367.4
233.4
1835

785.4
365.7
235.3
184.5

786.6
3642
237.5
184.8

786.8
363.8
238.0
185.0

789.0
364.2
240.9
183.9

Manufacturing and trade, total

"1.52

1.50

1.50

1.52

1.50

1.49

1.49

1.46

1.46

Manufacturing, total
Durable goods industries
Materials and supplies
Work in process
Finished goods

1.59
1.98
".56
".90
".52

1.55
"1.93
".55
".87
".51

"1.56
"1.94
".55
".88
".52

"1.59
1.96
".56

1.56
1.92

"55
"86
"51

"1.53
'1.86
'.53
'.83
'.49

'1.48
'1.77
'.51
'.80
'.46

1.50
"1.81

"88
"52

'1.56
1.91
'.54
'.86
'.50

"1.17

1.16

1.16

'1.21

"1.18

"1.19

"1.18

.44
.19

.43

.45

".19

.44
.19
"55

.44
.19

.54

'.19
'.56

.44
.19

".55

.43
.19
.54

'.56

Retail trade, total
Durable goods stores
Nondurable goods stores

1.56
2.18
1.21

1.57
2.18
1.23

1.57
2.18
1.23

1.56
2.18
1.21

1.55
2.14

1.52
2.09

122

120

Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishment!;

1.35
1.77

1.35
1.74

1.33
1.71

1.35
1.75

1.34
1.76

1.34
1.74

.95

.97

.95

.96

.93

1.61
1.70
1.63
1.44

1.60
1.66
1.64
1.43

1.59
1.66
1.64
1.40

1.61
1.71
1.64
1.41

1.58
1.67
1.63
1.38

"264,336

"226,503

Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments

'844,940

"844.011

'844.728

[Billions of constant 1987 dollars]
Manufacturing and trade inventories in constant
(1987) dollars, end of period (seas, adj.), total §
Manufacturing
Retail trade
Merchant wholesalers
....

794.4
365.0
244.5
184.9

7922
364.7
243.7
183.8

"793.5
"364.5
"244.5
"184.6

1.46

1.47

"1.47

1.47

1.47
1.75

1.49
1.79

1.50
1.80

.50
.78

.51

'.81
'.48

'1.48
'1.77
'.51
'.79
".47

".80

".46

.48

.52
.80
.48

"1.16

'1.17

"1.16

1.16

1.17

1.18

.43
.19

.43
.19

".56

'.54

'.55

.42
.19
.55

.42
.19
.54

.43
.19
.55

.43
.19
.56

1.54
2.13

1.55
2.14

1.57
2.22

120

1.54
2.13
1.20

121

120

1.61
2.27
1.23

1.59
"2.21
1.22

1.58
2.17
1.23

1.35
1.72

1.35
1.72

1.32
1.65

1.32
1.66

1.34
1.70

.98

.97

.97

.97

.97

"1.33
"1.68
".97

1.31
1.68

.94
1.58
1.68
1.59
1.41

1.57
1.64
1.61
1.41

1.54
1.58
1.61
1.41

1.55
1.61
1.61
1.37

1.55
1.58
1.64
1.37

1.56
1.57
1.68
1.39

1.57
1.61
1.66
"1.39

1.56
1.62
1.65
1.37

"252,299

269,793

BUSINESS INVENTORY-SALES RATIOS

Nondurable goods industries
Materials and supplies
Work in process
Finished goods

Manufacturing and trade in constant (1987) dollars.
total § ..
Manufacturing
Retail trade
Merchant wholesalers

"52

.94

MANUFACTURERS' SHIPMENTS, INVENTORIES,
AND ORDERS f
[Millions of dollars]
"2,826,215

"2,934,126

"244,526

'242,876

"262.786 "256.328 "249.171 "249.356

'226.781

"253,519

256,346

Durable goods industries, total
Stone, clay and glass products
Primary metals
Blast furnaces, steel mills
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment
Transportation equipment
Motor vehicles and parts
Instruments and related products

"1,429,807
"59,611
"132.837
"56,327
"157,077
"243,481
"197,880
'364,033
"206,101
"127,160

"1,506,632
"66,623
"135,945
"58,106
"160,490
"253445
"209,422
"391,292
"235,716
"127,289

"125,868 "138,168 "109,979 '122,907
"5,610
"5,662
'6,152
"6,148
'11,441
'12,147
"10,688
" 11,756
'4,444
"4,962
'4,815
"5,150
'13,491
"14,407
"12,195
"13,521
"20 234
"25 072
"18 339
"19 611
"18,337
"16,745
"15,936
'16,932
"34,404
"24,841
'30,995
'35,818
"21,071
"22,187
"13,500
"19,285
"11,667
"9,528
"10,098
"10,359

'134,635 '132242 "128,334 '131.841
'6,380
"6,440
"5.640
"4,761
"11 117 "10144
'11,648
"11.689
'4,924
"4.998
"4.780
"4.353
'14257
'14.304
"13.426
'13287
' 2 4 452
'23 052 '20.939
"21046
'18.411
'19.693
"18.461
'19.693
'35.310
"34.379
"35.043
'33.061
'18.834
'19.521
"23.260 "21.589
'11.641
'11.677
"10.490
'10.666

"114,272 "132,542
'4.589
"5,261
"10809
"11700
'5,204
"4,893
"13,773
"12,313
"19184
' 2 2 063
"18,137
"15.422
"30.227
"36,668
"24,832
'20.722
"10,228
"9,315

144,499 "133,168
5.414
5,940
11 711
12 053
5,329
5,495
14,841
"13,882
27,204
"22 505
19.793
17,808
36,734
38,785
25,347
24,903
10,024
11,291

134,845
5,837
11 409
5,287
14,445
22 974
18,435
36,798
25,066
10,480

Nondurable goods industries, total
Food and kindred products
Tobacco products
Textile mill products

"1,396,408
"387,602
"32,032
"65,706

"1,427,494
"395,028
"33,054
'69,850

"118,658
"33,651
"2,461
"5,776

"124.086 "120.837 "117.515
'34.383
'33.688
'32.853
"3.162
'3.902
"2231
"6,183
"5.910
'5,359

"112.509 "119,757
"32.882
"30.999
"2,004
"2,124
"5238
"5,733

125,294
34,686
3,659
5,890

120,351
33,389
1,873
5,641

121,501
34,023
2,842
5,812

"128,824
"292,327
"158^077
"100,668

'131,307
"301,522
"154,673
'103,329

"10,692
"25,567
"13,250
"8,780

"10.765
"26,052
"11,980
"8,860

11,007
27 591
12,125
9,021

10,564
26 958
12,589
8,708

10,728
25 928
13,139
8,740

Shipments (not seas adj) total

Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
Shipments (seas adj) total
By industry group:
Durable goods industries, total #
Stone, clay, and glass products
Primary metals ....
Blast furnaces, steel mills
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment
Transportation equipment
Motor vehicles and parts
Instruments and related products
Nondurable goods industries total #
Food and kindred products
Tobacco products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
See footnotes at end of tables.




'126,168 "116,524
"33,758
"31,469
"4,264
"2,329
"5,176
"6,505
"10,914
"24,455
"13,949
"8,369

"119,969 '128.151
'35.567
"32,863
'4,017
"1,933
"6,205
'6.535
"11,206
"25,033
"13.602
"8.670

" 11,257
'26,500
'13,833
'8,853

"11,030
"24 684
"13,929
"8.917

"10,756
"24 180
'13.379
'8.155

"10.751
"24 724
"12.549
'7.660

"246,459 "246,259 "241,716 "246.078 '245.459 '248.525

' 11,461
'26,888
"14,190
"9,341

"10,548
"24 563
"11,766
"8.060

"256.609

"252.845 "256,800

258,979

"255,114

254,056

"123,113 '126,166 "125,083 "124,246 "125,873 "126.425 '128,720 '134.228
'5.649
"5,669
"5.763
'5.826
"5,482
"5,583
' 5 735
'5,668
"11.117
" 11,477 "11,552
"11,243
'11.309
"11,480
'11,186
'11.309
"4,887
"4,777
'4,894
"4,797
"4,790
"4,796
'4,875
"4,820
"13,339
"13,421
"13,438
"13,406
'13,475
'13.556
'14,103
"13,136
"21,077
"21.090
'21.802
'21,548
"21,120
'21,173
'22.612
"20,572
'17,115
"18.110
"17.906
"17,085
'17,847
'17.859
'18.998
"17,023
'31,604
"31,427
"32,768
"31,769
"32.875
'34,118
'36.385
"31,940
'18,727
'20.369
'21298
"19.375
"19,465
'19.101
'23.151
"19,593
'10.874
"10,444
"10,494
"10,433
'10.406
'10.440
'10,781
'10,791

"130.805 "134,133
"5,450
"5,775
"11,425
"11,633
"5,022
"5,183
"13.878
"13,920
"22.582
"22,832
"17.614
'18,431
"35264
"35,987
"23.049
"23,719
"10,503
"10,638

135,537 "132,763
5,587
"5.819
"11,392
11,680
'5,180
5,251
14 122 "13,923
23,819
"22,911
18,756
18,596
36,264
"35,180
"23,127
23,760
10,646
"10,510

132,250
5,724
11,182
5,156
14,116
23227
18,821
34,256
22,327
10,564

"117,470 '120205 "119.034 '119.805 '122.381
'33,449
"32,796
'33.468
'33.196
'33.445
'3.427
"1,963
'2.418
'2,763
'3.121
"5,824
'5.924
'5.733
'5.739
'5.885
'10,927
'10.812
'11.162
"10,952
'10.913
'24.941
'26.054
'25.112
"25.006
'25240
'12.804
'12.764
"12,871
' 12.905 '12,826
"8,532
'8.520
'8.612
'8.683
'8.500

"122,040 "122,667
'33.664
'33.610
"3,015
'2.849
"6.043
'5.924
'10,870
'10.775
"25.676
'26.086
"12.735
'13.313
'8.680
"8.770

123.442 "122,351
34.006
"34.148
2.946
"2.669
"5,802
5.750
10.844
"10,741
'25.971
26.415
13.331
"13.072
1
8,523
8.705

121,806
33.424
2.694
5.849
10,935
25.542
13.100
8.562

148,402
6,360
12 240
5,529
15,612
26 773
20,878
39,324
25,487
11,720

'241,804

'118,691
"33.088
"2,262
"5.809
"10.893
"25.136
"13,194
"8,567

"120,293 "121,176
'32.517
'32.783
"2.994
' 3.239
"5.895
"5,902
"11.114
"10.949
"25.483
"25,633
"13,757
"13,694
"8.625
"8,648

135,243
5,767
11,574
5,221
14,416
23,066
19,433
35,915
23,358
10.732

S-4

• July 1993

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1963-91

SURVEY OF CURRENT BUSINESS
1992

Annual
1991

1992

May |

June

July

Aug.

1993
Sept.

Nov.

Oct.

Dec.

Jan.

Feb.

Mar.

Apr. |

May

June

1. GENERAL BUSINESS INDICATORS-Continued
MANUFACTURERS' SHIPMENTS, INVENTORIES,
AND ORDERS-Continued v
[Millions of dollars]
Shipments (seas, adj.)—Continued
By market category:
Home goods and apparel
Consumer staples
Machinery and equipment
Automotive equipment
Construction materials and supplies
Other materials, supplies, and intermediate
products
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense
Inventories, end of year or month:
Book value (non-LIFO basis), (unadjusted), total
Durable goods industries, total
Nondurable goods industries, total

'172,495
'651,631
'457,419
'105,633
'168,819

'189,473
'663,826
'480.196
'120,625
'183,875

'15,558
'55.007
'38.667
'9,965
'15.165

'15,541
'56.066
'40.655
'9.895
'15.330

'16.058
'56.394
'39.676
'9,625
'15.367

'15,838
'54.411
'39.565
'10.061
'15 326

'16,108
'56.622
'40.209
'9.854
'15,692

'16,203
'55,211
'40.312
'10,395
'15,525

'16,387
'55,974
'41,365
'10,802
'15,678

'17,112
'57,142
'43,566
' 11.829
'16,068

'17,288
'56,668
'42,373
'11,755
'15,785

'17,260
'56,689
'42,538
'12.142
'16.584

17.291
57.617
43.981
12,019
16.376

'17,163
'56.955
'42.712
'11.702
'16.263

17,464
56,086
42,935
11,460
16.413

'936,691

'966,997

'80,200

'81,447

'81,252

'79,935

'80,347

'80,717

'81,492

'83.298

'81,941

'84,057

84,068

'83,128

82,586

'77,774
'462,030
'360,638
'101,392

'83,063
'469,611
'373,470
'96,141

'6,809
'37.854
'29,969
'7,885

'6,748
'40 047
'32.038
'8,009

'7,065
'39.186
'31,138
'8,048

'6,943
'38,328
'30,675
'7,653

'6.997
'39,379
'31,339
'8,040

'7.046
'38,751
'31,124
'7,627

'7,216
'39,523
'31,905
'7,618

'7.337
'41.109
'33,296
'7,813

'7,224
'39,409
'31,817
'7,592

'7,303
'39.793
'32,037
'7,756

7,260
41,264
33,512
7,752

'7,162
'39.744
'32,235
'7,509

7,208
40.034
32.649
7,385

'379,943
'243,761
'136,182

'372,987
'232,600
'140.387

'385.643 '381.052 '383,515
'246,389 '242,887 '243,457
'139,254 '138,165 '140,058

'387,101
'245,325
'41,776

'383,316
'241,651
'141,665

'384,340
'241,401
'142,939

'381,313
'239,602
'141,711

'372.987
'232,600
'140,387

'378,183
'235,117
'143,066

'381,753
'238,849
'142,904

'379.471 '382.062
'236,973 '238,331
143,731
142,498

383.949
239,887
144,062

'386,348

'379,238

'383,404

'382.908

'383,369

'385,186

'384.013

'383,095

'381,055

'379.238

'378,898

'379,733

'379,539

'380.307

381.611

'249,117
'7,939
'20,280
'10,190
'23.387
'47.828
'31,553
'73,745
'12,502
'24,323

'237,717
'7,768
'19,397
'9.752
'23.348
'45.587
'31.342
'66,728
' 11,249
'23,178

'244,213
'7,838
'19,848
'9,910
'23,719
'46,328
'31,407
'70,822
'12,054
'23,645

'243.625
'7,863
'19.848
'9.961
'23,649
'46.093
'31.534
'70,324
'12,115
'23,631

'242,976
'7,841
'19,822
'9,951
'23,941
'46,089
'31,406
'69,651
'11,948
'23,639

'243,597
'7.905
'19,944
'9,949
'23,992
'46,296
'31,629
'69,742
'12,130
'23,552

'242,122
'7,878
'19,858
'9,833
'23,844
'46,199
'31.619
'68,776
'12,189
'23,484

'240,909
'7,799
'19.648
'9,816
'23,648
'46,099
'31,264
'68,715
'11.973
'23,228

'239,407
'7,845
'19,480
'9,761
'23,581
'46,244
'31,318
'67,455
'11,639
'23,035

'237.717
'7,768
'19,397
'9,752
'23,348
'45.587
'31.342
'66.728
'11.249
'23,178

'236,606
'7,773
'19,366
'9,738
'23,155
'45,346
'31,631
'66,009
'11,133
'22,932

'237,535
'7,757
'19,404
'9,755
'23,171
'45,431
'31,771
'66,195
'11,258
'23,040

'236,849 '237,043
'7.757
7,783
19,343
'19,123
'9,409
9,591
23,302
'23,123
'44,480
'44,773
31.900
'32,258
'65,434
65,885
'11,414
11,362
22.979
'22,898

237,759
7,734
19,222
9,456
23,142
44.796
32.650
65,609
11,458
22,763

'69,987
'115,107
'64,023

'68,165
'107,140
'62,412

'68.909
'111,346
'63,958

'69.477
'110.257
'63,891

'68,875
'109,482
'64,619

'69,371
'109,507
'64,719

'69,399
'108,406
'64,317

'68,442
'108,730
'63,737

'68,267
'107,472
'63,668

'68,165
'107.140
'62.412

'67,707
'106,446
'62,453

'67.825
'106,574
'63,136

'67,863
'106.068
'62.918

'68,089
'105.671
'63,283

68,515
105.785
63,459

'137,231
'29,268
'6,339
'8,583
'13,544
'33,661
' 11,404
'11,294

'141,521
'29,571
'6,694
'9,113
'13,387
'34,953
'11,359
'11,814

'139,191
'29,527
'6,714
'8,842
'13.664
'33,859
'11,600
'11,202

'139,283 '140,393
'29,684
'29,755
'6,362
'6,618
'8,913
'8,990
'13.519
'13,580
'34,012
'33,772
' 11,898
'12,103
'11.289
'11,343

'141,589 '141.891
'29,868
'29,768
'6,810
'6,589
'9,045
'9,082
'13,707
'13,705
'34,728
'34,466
' 11,979
'11,873
' 11,424
'11,557

'142,186
'29,904
'6,714
'9,091
'13,767
'34,856
'11,639
'11.610

'141,648 '141,521
'29,571
'29,702
'6,694
'6,685
'9,120
'9,113
'13.387
'13,719
'34,874
'34,953
' 11,370
'11.359
'11.814
'11,686

142,690 '143,264
29,910
'30,073
6,700
'6,558
9,192
'9,279
13,467
'13,495
34,894
'34,877
11,684
'11,869
11,834
'11,940

143,852
30.149
6.702
9,324
13,525
35,102
11,651
12.022

'51,556
'21,886
'63,789

'52,194
'22,887
'66,440

'51,821
'22.474
'64,896

'52.188
'22.529
'64,566

'52,616
'22,506
'65,271

'52,471
'22,773
'66,345

'52.554
'22,903
'66,434

'52.528
'22,817
'66,841

'52,137
'22,759
'66,752

'52,194
'22,887
'66,440

'52,286
'22,962
'67,044

'52,121
'23,161
'66,916

52.329
23,128
67,233

'52,672
'23,099
'67,493

52,981
22,956
67,915

'26,229
'57,021
'91,233
'6,417
'22,385

'28,568
'58,526
'87,836
'5,998
'22,634

'27,629
'58,024
'88,726
'6,202
'22,776

'27,946
'57.681
'88,646
'6,236
'22,875

'28,064
'58,358
'88,403
'6,178
'22,870

'28,215
'58,851
'89,236
'6,257
'22,814

'28,297
'58,630
'89,176
'6,267
'22.758

'28,356
'58,958
'88,829
'6,220
'22,680

'28,351
'58,523
'88,953
'6,157
'22,692

'28,568
'58,526
'87,836
'5,998
'22,634

'28,765
'58,845
'87,612
'5,970
'22,668

'28,971
'58,891
'88,380
'6,072
'22.866

29,393
59.136
'87,899
6,166
23,225

'29,688
'59.201
'88,104
'6,207
'23,354

30,003
59.585
88,421
6,199
23,305

'127,828

'125,743

'126,933

'126,958

'127,205

'127,748

'127.720

'127,050

'126,480

'125,743

'125,386

'125,355

'125,211

'125.200

125.243

'12,671
'122,679
'87,281
'35,398

'12,677
'113,418
'83,199
'30,219

'12.933
'118,149
'84,583
'33,566

'13,022
'117,258
'84,223
'33,035

'12,998
'116,716
'83,922
'32,794

'13,022
'116,844
'84,770
'32,074

'12,929
'115,441
'84,554
'30,887

'12.921
'115,151
'84,279
'30,872

'12,829
'114,306
'84,284
'30,022

'12,677
'113,418
'83,199
'30,219

'12,733
'112,715
'82,998
'29,717

'12,761
'112,911
'83.514
'29,397

'13,129
12,965
'111.376 '111.401
'82,611
'82.893
28,765
'28,508

13.373
111,817
83.216
28,601

New orders, net (unadj.), total
Durable goods industries, total
Nondurable goods industries, total

'2.812,243
'1,414,535
'1,397,708

'2,901,245
'1,474,067
'1,427,178

'240,823
'122,473
'118,350

'259,968
'133.979
'125,989

'222,066
'105,131
'116,935

'236,726
'116,764
'119,962

'256,455
'128,699
'127,756

'255,110
'130,473
'123,737

'243,849
'122,583
'120,366

'250,987
'132.707
'117,380

'231,874
'118,218
'112,990

'254.903
'134,067
'120,170

265.249 '251,370
'139.127 '130,821
125,456
120,549

249,925
128.679
121,246

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
Industrial machinery and equipment
Electronic and other electrical equipment ...
Transportation equipment
Aircraft, missiles, and parts

'2,812,114

'2,898,828

'238,933

'243,914

'241,079

'237,230

'240,685

'245,782

'244,006

'257,627

'254,292

'257,916

'252,369

248,233

'1,415,006
'130,958
'55,438
'64,606
'155,415
'239,570
'195,942
'360,273
'131,813

'1,472.997
'134,807
'57,781
'64,965
'159,255
'250.275
'209,798
'365,895
'106,243

'120,522 '123,746 '119,846
' 11,769 '11,441
'11,342
'5.039
'4,696
'4,762
'5,670
'5.831
'5,495
'13,766
'12,531
'12.736
'20,836
'21,248
'19,988
'17,108
'17,860
'17,050
'31,083
'27,586
'30,756
'9.717
'7,330
'9,040

'120,007
'11,355
'4,663
'5,660
'13,177
'20,584
'17,234
'28,445
'7,423

'120,608 '125,656
'10,419
'10,818
'4,654
'4,638
'4,841
'5,116
'13,849
'13,640
'21,248
'21,038
'18,501
'18,120
'31,891
'27,015
r
'10,401
6,705

'123,096
'11,188
'4,869
'5,233
'13.524
'21,516
'17,959
'28,290
'6,153

'134.348
'12,224
'5.775
'5.359
'14,262
'22.415
'19.118
'35.003
'9,863

'131,266
'12,629
'5,927
'5,583
'13,845
'22,690
'18,712
'32,636
'7,000

'134.533
'12,405
'5,957
'5,417
'13,982
'23,197
'17,886
'35,552
'10,137

'129,903 '129,838
'11,212
12,015
5,625
'5,078
5.385
'5,085
'13,648
13,761
23,475
'22,999
17,881
'18.862
'32,225
'31,798
'6,852
7,006

126,758
10,969
5,142
4.855
13,947
23.158
18.172
30 474
6.290

'1,397.108
'346,037
'1,051,071

' 1,425,831
'348,452
'1,077,379

'118,411
'28.652
'89.759

'120,168
'29,057
'91,111

'121,233
'29,771
'91,462

'117,223
'28,422
'88,801

'120,077
'28,890
'91.187

'119.226
'29,435
'89,791

'120,010
'29,441
'90,569

'122,379
'29.775
'92.604

'122,360
'29,843
'92,517

'122,717
'29,489
'93,228

123.104 '122,531
29.037
'29.550
94.067
'92,981

121,475
29,342
92,133

'173,204
'651,674
'448,331
'105,810
'169,527

'189,653
'663,928
'465.945
'120.540
'183,951

'15,412
'54,990
'39,031
'9.972
'15,108

'15,728
'56.065
'39.092
'9,879
'15.630

'16.126
'56,440
'37,635
'9,607
'14,972

'15,774
'54,407
'36.925
'10,039
'15 296

'16.135
'56,631
'38,524
'9,834
'15,759

'16,621
'55,240
'40,212
r
10.368
'15,583

'16,645
'55,974
'37,691
'10,823
'15,790

'17.035
'57.152
'43.560
' 11.805
'16,074

'17,603
'56,652
'40,212
'11,785
'15,975

'17,444
'56,725
'44,074
'12,149
'17,039

17.245
57.619
40,438
11,988
16.172

'17,113
'56,942
'40,796
'11,685
'16.242

17,169
56.122
40,580
11,520
16,489

'938,685

'962.073

'79.021

'80.579

'80,642

'79,395

'79.476

'80.600

'81,223

'84.471

'83.828

'84.246

82,879

'82.969

81,202

'6,908
'33,773
'27,486
'6,287

'6.974
'34.895
'29.801
'5.094

'7,359
'33,424
'26,804
'6,620

'7,184
'39.867
' 32.275
' 7.592

'7,313
'38,123
'28,645
'8,812

'7,365
'39,775
'32.748
'6.361

7,105
'36,533
'29.122
7,411

'7.215
'37.306
'30.453
' 6 853

7,142
35.320
29.883
5.437

Book value (non-LIFO basis), (seasonally
adjusted), total
By industry group:
Durable goods industries, total #
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment
Transportation equipment
Motor vehicles and parts
Instruments and related products
By stage of fabrication:
Materials and supplies
Work in process
Finished goods
Nondurable goods industries, total #
Food and kindred products
Tobacco products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
By stage of fabrication:
Materials and supplies
Work in process
Finished goods
By market category:
Home goods and apparel
Consumer staples
Machinery and equipment
Automotive equipment
Construction materials and supplies
Other materials, supplies, and intermediate
products
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense

Nondurable goods industries, total
Industries with unfilled orders i
Industries without unfilled orders 0
By market category:
Home goods and apparel
Consumer staples
Machinery and equipment
Automotive equipment .
Construction materials and supplies
Other materials, supplies and intermediate
products
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense
See footnotes at end of tables.




'78.042
'446.649
'354.134
'92,515

'82.874
'437,974
'357.538
'80,436

'6,703
'35.634
'29.778
'5.856

'6,759
'37.176
'30.168
'7.008

'7,100
'34,513
'28.732
'5.781

'7,295
'37,543
'30.129
'7.414

'142,292 '142,198
'29,889
'29,858
'6,627
'6,607
'9,150
'9,143
13,429
'13.455
'34,879
'35,073
' 11,491
'11,610
'11,781
' 11,788

253,673

40.859
33,321
7,538

141.997

131,592
11,045
5,129
5.021
14,127
22,919
18.768
35,066
9.808

39.161
33.283
5.878

SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1953-91

Annual
1991

July 1993

1992
1992

May

June

July

Aug.

1993
Sept.

Nov.

Oct.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

1. GENERAL BUSINESS INDICATORS-Contlnued
MANUFACTURERS' SHIPMENTS, INVENTORIES,
AND ORDERS—Continued t f
[Millions of dollars]

'496,713 '492,276 '486,126 '479 795 '478,577 '473,255 '474,886
'473,706 '458,858 '462,71 '456,779 '455,010 '449,259 '450,125
'23,007 '23,418 '23,411 '23,016 '22,667 '22,196 '22,061

Unfilled orders, end of period (unadjusted), total
Durable goods industries, total
Nondurable goods industries with unfilled orders ? .

' 507,76;
'485,390
'•22,377

'474,886
'452,825
'22,061

Unfilled orders, end of period (seasonally adjusted)
total
By industry group:
Durable goods industries, total #
Primary metals
Blast furnaces, steel mills
Nonferrous and other primary metals

'511,122

'478,004

'498,786

'496,241

'491,061

'486,575

'481,182

'487.892
'22,378
'9,059
'10,287

'455,083
'21,247
'8,727
'9,624

'475,817
'21,229
'8,209
'10,115

'473,397
'21,446
'8,361
'10.170

'463,921
'21,519
'8,133
'10,503

'458,656 '457,887 '452,263 '452,383
'20,752 '20,453 '20,332 '21,247
'8,727
'7,852 '7,846
'7,975
'9,624
'9,770 '9,620
'9,966

'24,102
'53,176
'42,298
'273,406
'240,758

'22,909
'50,478
" 42,852
'247,967
'219,162

'22,898
'52,015
'41,872
'266,900
'234,610

'23,243
'51,715
'41,895
'265,215
'233,183

'468,160
'21.407
'8,260
'10,280
'22,336
'51,474
'41,908
'261,374
r
230,138

'22,107
'50,938
'42,027
'258,050
'227,573

'22,481
'51,013
'42,288
'253,461
'224,222

'22,782
'50,961
42,679
'252,477
'224,389

'23,230

'22,921

'22,969

'22,844

'22,901

'22,654

'22,526

'22,718

'9,801
'1,298
'215,109
'1,707
'14,478

'9,983
'1,398
'200,857
'1,624
'14,552

'9,165
'1,310
'212,566
'1,729
'14,435

'9,352
'1,309
'211,003
'1,714
'14,735

'9,420
'1,354
'208,963
'1,695
'14,340

'9,357
'1,350
'206,323
'1,673
'14,310

'9,383
'1,359
'204,637
'1,653
'14,376

'126,731

'121,606

'123,908

'123,039

-122.431 '121,

'5,532
'380,647
'236,215
'144,432

'5,343
'349,010
'220,283
'128,727

'5,116
'371,442
'233,703
" 137.739

'5,127
" 368,571
r
231.833
" 136,738

'5,162 '5,127
r
363,898 r 359,343
' 229,427 " 226,238
'134,471 "133,105

52,664
48,673

58,260
58,730

57,056
56,942

49,913
51,245

59,179

Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment
Transportation equipment
Aircraft, missiles, and parts
Nondurable goods industries with unfilled
orders i
By market category:
Home goods and apparel
Consumer staples
Machinery and equipment
,
Automotive equipment
Construction materials and supplies
Other materials, supplies, and intermediate
products
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense

'501.081
'477,895
'23,186

'481,505

'478,004

'479,979
'454,071
'22,542

'482,583
'455,596
'22,95!

'479,451 '480,567

478,039 '471,192
'450,224 '447,877
23,117
23,315
475,261

464,771
441,711
23,060

435,306

'467,818

461,995

'452,844
'22,451
'9.632
'9,865

'453,244
'23,223
'10,406
'9,902

'447,610 '444,685
23,558
'23,378
10,780
'10,678
9,929
'9,840

439,193
23.165
10,664
9,630

435,542
22,636
10,572
9,311

'22,750
'22.909
'50,675
'50,478
'42,732
'42,852
r
246,649 '245,267
'220,015 '219,162

'22,876
'50,586
'43.950
'242,639
'216,232

'22,938
'50,951
'43,405
"242,204
'216,684

22,577
'22,302
50,607
'50,695
42,530
'42,796
'238,165 '234,783
213,688 '206,156

22,133
50,626
42,147
231,001
202,831

21,844
50,479
41,482
230,152
202,387

'22,923

'22,921

'23,241

'23,291

22,953

23,133

22,802

'9,801
'1,388
'204,537
1,626
'14,434

'10,060
'1,388
" 200,863
'1,648
'14,546

'9,983
'1,398
'200,857
'1,624
'14,552

'10,298
'1,382
'198,696

'10,482
'1,418
'200,232
'1,661
'15,196

10,436
1,420
196,690
1,629
14,992

'10,385
' 190,077
1,612
'14,971

10,090
1,442
187,721
1.671
15,047

'121,022

'120,905

"120,634

'121,806

"123,694 '123,882

122.695

"122,536

121,155

'5,104
'354,859
'224,700
r
130,159

'5.353
" 353,651
'223,705
129,946

'5,496
'347,552
"218,604
'128,948

'5.343
"346.310
"217,583
"128,727

'5,432
'344,358
"214,411
"129,947

'5,494
"343,674
"215,122
'128,552

5,339
'338,943
'210,732
128,211

'5,392
'336,505
'208,950
'127,555

5,326
331.791
206,184
125,607

52,987
52,462

47,471
55,392

61,695

60,131
55,625

57,124
59,691

68,536
60,813

7,959
2,249
1,004
564
1,545

6,850
1,915

7,654
2,122

799
523
1,300
435

901
588
1,487
574

7,062
2,067
870
513
1.301

549

7,123
1,931
858
550
1,455
481

492

8,422
2,218
1,064
-666
1,495
587

7,863.0
861.9
138.7
404.4
3,219.0
311.8

3,982.9
1,126.3
111.4
238.9
246.6
138.7

8,136.8
649.7
128.8
1,253.7
920.1
73.1

6,174.9
792.5
137.9
1,304.5
1,860.5
538.8

2,406.7
825.4
158.4
175.9
202.5
296.2

4,343.0
852.4
'807.6
701.7
250.2
561.3

'476,986

1,653
'14,742

' 1,407

330,093
206,146
123,947

BUSINESS INCORPORATIONS @
[Number]
New incorporations (50 States and DC):
Unadjusted
Seasonally adjusted

628.567

INDUSTRIAL AND COMMERCIAL FAILURES @
[For failures, number; for liabilities, millions of dollars]
Failures, total
Commercial service
Construction
Manufaclunna ana mining
Retail trade "
Wholesale trade

88,140
22,852
11,963
7,006
17,242
6,170

96,857
26,821
12,380
7,504
19.005
6,726

7,741
2.196
1,057
570
1,430
491

8,437
2,257
1,157
648
1.635
567

8,580
2,406
1,091
629
1,628
586

7,923
2,317

7,522
2,114

973

943
572
1,432
525

Liabilities (current) total
Commercal service
Construction
Manufacturing and mining
Retail trade
Wholesale trade

96,825.3
13,967.0
5,156.2
8,754.4
6,972.2
4,370.4

91.289.4
12,322.5
5,042.4
8,681.3
8,203.8
8,427.1

12,020.2

13,932.0
1,057.6
190.3
180.4
483.3
125.4

3,575.0
997.2
320.3
325.4
345.8
231.7

9,031.7
732.1
159.1
1,901.0

2,551.7
197.9
520.9

635.9
4,499.7;

611
1,573
551

1,394.6
1,740.0

3,215.7
744.6
138.0
169.3
346.3
206.6

Failure annual rate, number per 10,000 concerns .

2 COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS t
[1910-14=100]

665

'637

'642

'639

'629

633

'633

'629

623

'627

634

640

647

669

'660

642

Crops #
Commercial vegetables
Cotton
Feed grains and hay
Food grains
Fruit .
Tobacco

558
675
553
371
316
969
1,559

525
'773
'450
365
382
'670
'1,501

534
611
449
395
406
'739
'1,374

'524
'590
'490
390
'384
'682
'1,374

'505
'693
'475
'368
'355
'542
'1,361

'504
'778
454
348
339
'581
1,439

'507
'803
'448
'345
'357
'573
1,587

'504
'865
'453
'331
'359
'566
1,582

499
'716
'443
'328
366
'613
1,591

'509
835
'459
'327
368
599
1,587

508
823
445
337
374
540
1,565

509
882
447
335
368
503
1,622

502
767
469
347
363
438
1,622

543
1,200
459
358
357
491
1,369

'520
'907
'449
'356
'341
'525
1,369

488
666
448
336
313
567
1,369

Livestock and products #
Dairy products
Meat animals
Poultry and eggs

776
749
1,047
283

'754
801
'993
266

'756
789
1,013
'249

'759
807
'1,002
'263

'758
820
'998
'259

768
826
1,007
'271

'766
826
'996
'283

'760
820
'995
'269

752
801
'975
'289

751
783
984
282

766
764
1,022
279

778
752
1,053
275

799
746
1,083
297

802
771
1,079
298

'807
'795
'1,081
296

804
307
1,071
295

1,004

1,006

1,012

1,011

1.C19

1,038

1,298

1,317

1,324

1,323

1,337

1,355

51

48

49

49

48

48

48

48

47

47

47

49

134.3

138.2

137.6

138.1

138.4

138.8

139.1

139.6

139.8

139.8

140.3

140.7

141.1

141.6

141.9

142.0

136.2

140.3

139.7

140.2

140.5

140.9

141.3

141.8

142.0

141.9

142.6

143.1

143.6

144.0

144.2

144.4

133.5
136.1
133.8

137.3
140.8
137.5

136.9
140.1
136.9

137.2
140.7
137.4

137.3
141.1
137.6

137.7
141.4
138.0

138.4
141.8
138.4

138.9
142.4
138.8

139.2
142.7
139.0

139.1
142.5
138.9

139.5
143.1
139.5

140.0
143.7
140.0

140.5
144.2
140.4

140.9
144.6
140.8

141.3
144.8
141.0

141.2
145.1
141.1

Prices received, all farm products

Prices paid:
Production items
All commodities and services, imeresi, taxes, and
wage rates (parity index)
Parity ratio §
CONSUMER PRICES
[1982-84=100]
Not seasonally adjusted:
All items, wage earners and clerical workers (CPIW)
All items, all urban consumers (CPJ-U)
Special group indexes:
All items less shelter
All items less food
All items less medical care
See footnotes at end of tables.




O-6 •

July 1993

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1963-91

Annual
1991

1992
1992

May

June

July

Aug.

1993
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

2. COMMODITY PRICES-Continued
CONSUMER PRICES-Continued
[1982-84=100, unless otherwise indicated]
Not seasonally adjusted—Continued
All items (CPI-U)—Continued
Commodities
Nondurables
Nondurables less food .
Durables
Commodities less food
Services
Food#
Food at home
Housing
Shelter*
Rent, residential
Homeowners' cost, Dec. 1982=100 .
Fuel and other utilities #
Fuel oil and other household fuel
commodities
Gas (piped) and electricity
Household furnishings and operation ...
Apparel and upkeep
Transportation
Private
New cars
Used cars
Public
Medical care

129.2
132.8
128.1
118.5
124.5
151.7

129.0
132.5
127.8
118.6
124.3
152.5

129.3
133.0
127.9
118.5
124.3
153.0

129.9
133.8
129.1
118.5
125.1
153.2

130.3
134.2
129.8
119.2
125.7
153.7

130.5
134.2
129.8
120.0
126.1
154.0

130.1
133.6
128.5
120.1
125.3
154.2

130.4
133.9
128.1
120.0
125.1
155.2

130.9
134.7
129.4
120.0
125.8
155.8

131.4
135.3
130.3
120.2
126.4
156.2

131.9
135.8
130.9
120.6
127.0
156.5

132.0
135.9
130.6
120.8
126.9
156.9

131.4
135.0
129.5
121.0
126.3
157.8

137.2
135.7

138.0
136.9

138.5
137.4

138.3
137.2

138.3
137.0

138.7
137.5

139.8
139.1

140.4
139.3

138.6
152.3
147.0
155.8
119.4

138.4
151.9
147.2
156.0
119.8

138.5
152.5
148.0
156.8
118.5

138.5
152.4
148.6
157.2
118.3

138.5
152.5
148.6
157.5
118.7

139.3
153.7
148.9
158.2
119.2

140.2
154.8
149.1
158.7
119.5

140.6
140.0
140.4
155.0
149.7
159.2
119.6

141.1
140.7

138.3
151.8
147.0
155.5
119.4

139.9
139.1
139.7
154.4
149.1
158.5
118.4

140.1
139.4

136.7
150.2
146.3
154.4
116.8

137.4
136.1
137.7
151.1
146.6
155.0
119.0

140.5
154.9
149.9
159.4
120.5

141.5
155.7
150.3
160.1
122.9

90.7
114.8
118.0

89.8
113.0
117.9

90.1
117.4
118.2

90.0
117.6
118.4

89.7
117.5
118.3

89.7
118.5
118.3

91.4
115.4
118.4

92.1
114.8
118.5

91.8
115.6
118.2

92.3
115.9
118.2

92.5
113.8
118.6

92.8
115.1
118.7

92.6
115.3
119.2

90.4
122.0
119.1

131.9
126.5
124.6
128.4
123.2
151.4
190.1

133.1
126.3
124.3
128.4
120.5
151.6
188.7

131.0
126.9
125.4
128.2
123.1
145.3
189.4

129.2
127.2
125.5
127.8
124.8
148.3
190.7

130.2
126.9
125.4
127.6
126.4
146.7
191.5

133.3
126.8
125.4
127.4
127.7
145.6
192.3

135.0
128.0
126.1
128.2
129.1
152.9
193.3

134.5
129.2
127.0
129.7
129.9
157.4
194.3

131.4
129.0
126.7
130.5
129.0
158.2
194.7

129.7
129.1
126.6
130.9
127.4
161.6
196.4

133.4
129.2
126.5
130.9
126.0
164.1
198.0

136.2
129.0
126.3
130.9
126.6
163.5
198.6

136.9
129.4
126.8
131.1
128.7
162.8
199.4

91.3
117.3
119.1
135.0
130.2
127.5
131.3
131.5
165.5
200.5

131.9
130.3
127.6
131.0
134.3
164.5
201.1

128.8
124.1
137.5
136.1

.2
129.1
124.5
137.6
136.0

.3
129.4
125.0
137.5
135.8

.2
129.6
124.9
138.3
137.0
132.4

1
129.7
124.9
138.7
137.5
131.9

.4
130.0
125.3
138.7
137.5
132.4

.2
130.1
125.4
138.8
137.5

.1
130.2
125.3
139.2
138.1

.5
130.8
126.0
139.7
138.6

.3
131.3
126.7
139.9
138.9

.4
131.8
127.0
140.6
139.6

.1
131.7
126.6
141.2
140.5

0
131.3
126.3
140.6
139.3

134.3

133.6

127.8
126.0
129.2

129.3
126.9
129.8

129.9
127.4
129.8

130.2
127.8
130.7

130.1
127.5
131.0

132.9
129.9
127.3
131.2

153.7

154.2

131.9
128.5
126.3
129.5
154.7

135.0

126.9
125.6
129.2

132.3
128.4
126.2
129.4

133.0

126.9
125.5
128.9

.1
131.4
126.8
140.1
139.0
134.3
130.0
127.6
130.1

155.3

155.8

156.2

156.9

157.4

157.8

126.6
130.3
124.5
116.0
121.3
146.3

129.1
132.8
127.6
118.6
124.2
152.0

136.3
135.8

137.9
136.8

129.1
132.8
128.0
118.4
124.4
150.9
137.4
136.2

133.6
146.3
143.3
150.2
115.3

137.5
151.2
146.9
155.3
117.8

94.6
112.6
116.0
128.7
123.8
121.9
125.3
118.1
148.9
177.0

Seasonally adjusted
All items, percent change from previous month or
year
Commodities
Commodities less food
Food
Food at home

3.0

131.8

Services

132.1

126.1
124.3
128.1
151.4

Apparel and upkeep
Transportation
Private
New cars .

126.5
125.1
128.3

132.7
127.1
125.6
128.5

151.8

152.2

152.6

152.9

PRODUCER PRICES §
[1982=100 unless otherwise indicated]
Not seasonally adjusted:
All commodities
By stage of processing:
Crude materials for further processing ..
Intermediate materials, supplies, and
components
Finished goods #
Finished consumer goods
Capital equipment
By durability of product:
Durable goods
Nondurable goods
Total manufactures
Durable manufactures
Nondurable manufactures
Farm products, processed foods and feeds ...
Farm products
Foods and feeds, processed
Industrial commodities
Chemicals and allied products
Fuels and related prod., and power
Furniture and household durables
Hides, skins, and leather products
Lumber and wood products
Machinery and equipment
Metals and metal products
Nonmetallic mineral products
Pulp, paper, and allied products
Rubber and plastics products
Textile products and apparel
Transportation equipment*
Motor vehicles and equipment

116.5

117.2

117.2

118.0

117.9

117.7

118.0

117.8

117.6

118.0

M18.4

118.7

119.2

119.7

119.6

101.2

100.4

101.2

102.1

101.7

100.6

102.4

101.9

101.8

100.9

101.4

"101.4

102.6

103.6

106.3

104.5

114.4
121.7
120.5
126.7

114.7
123.2
121.7
129.1

114.5
123.2
121.7
129.0

115.4
123.9
122.6
128.9

115.5
123.7
122.4
128.8

115.5
123.6
122.2
128.9

115.8
123.3
122.2
128.1

115.4
124.4
122.9
130.2

115.0
124.0
122.4
130.2

114.8
123.8
122.2
130.2

115.2
124.2
122.5
130.8

M15.6
r
124.5
" 122.8
"131.1

115.9
124.6
123.0
130.9

116.2
125.3
123.9
130.9

116.2
125.7
124.4
131.1

116.7
125.6
124.2
131.2

122.9
111.7
119.0
122.7
115.2
116.4
105.7
121.9
116.5
125.6
81.2
121.2
138.9
132.0
123.0
120.3
117.2
143.0
115.2
116.3
126.4
122.1

124.4
111.9
120.1
124.3
115.8
115.9
103.6
122.1
117.4

124.4
112.0
120.3
124.2
116.3
117.0
105.8
122.5
117.3
125.2
79.7
122.1
140.7
147.6
123.4
119.5
116.9
145.2
114.9
117.7
130.2
124.7

124.3
113.3
120.6
124.2
117.0
116.9
104.7
123.0

124.3
113.1
120.5
124.2
116.7
115.8
102.5
122.4

124.4
112.7
120.4
124.3
116.4

125.0
113.1
120.9
125.0
116.8
115.4
102.7
121.8

125.1
112.2
120.5
125.1
116.0
116.2
103.7
122.4

125.7
112.5
121.1
125.6
116.5
116.6
104.3
122.7

126.5
114.6
122.5
126.6
118.3
119.7
110.8
124.1

118.3
126.4
83.3
122.2
140.1
145.3
123.1
120.0
117.1
145.2
115.2
117.8
130.2
124.4

118.1
126.7
82.8
122.2
140.8
145.4
123.2
120.2
117.4
145.4
115.3
117.8
130.0
123.9

118.5
127.0
84.4
122.4
140.9
148.7
123.2
119.6
1174
145.8
115.5
118.0
128.5
121.3

118.6
127.1
83.2
122.3
141.0
148.7
123.3
118.8
117.4
146.1
115.7
118.1
132.3
127.1

117.9
127.0
79.7
122.6
142.0
154.4
123.5
118.5
117.8
145.9
115.7
118.0
132.1
126.9

127.6
79.4
122.6
143.6
160.2
123.9
118.9
118.4
147.0
115.7
118.0
132.7
127.1

126.3
113.1
121.8
126.3
117.3
117.3
106.3
122.8
118.9
127.6
79.8
123.0
143.0
177.5
123.9
119.0
118.7
147.3
115.6
118.1
132.8
127.6

126.6
113.8
122.3
126.6
118.1
118.9
109.4
123.5

118.2
126.0
83.2
122.2
140.8
146.3
123.2
119.6
117.0
145.1
115.0
117.9
130.1
124.3

124.8
112.6
120.8
124.9
116.6
115.0
101.8
121.6
118.3
127.5
82.1
122.6
140.6
149.5
123.4
118.2
117.7
145.9
115.8
118.0
132.2
127.1

"126.2
"112.6
"121.5
"126.1
116.9

115.4
102.2
122.1

124.1
113.5
120.4
124.0
116.8
115.3
101.6
122.1

119.2
128.5
80.1
123.2
143.8
182.3
123.9
118.6
119.4
147.4
115.8
118.1
133.0
127.6

119.6
128.1
82.0
123.3
144.5
179.7
123.9
118.2
119.5
147.6
115.6
118.0
133.2
127.4

126.6
1144
122.2
126.6
117.7
117.5
104.4
124.0
120.0
128.5
83.4
123.4
143.9
174.1
123.9
118.8
119.8
147.4
115.9
118.0
133.4
127.8

Seasonally adjusted:
Finished goods, percent change from previous
month or year
By stage of processing:
Crude materials for further processing
Intermediate materials, supplies, and
components
Finished goods*
Finished consumer goods
Foods
Finished goods, exc. foods
Durable
Nondurable
Capital equipment

125.9
80.4
122.2
140.4
146.6
123.3
119.2
117.3
145.2
115.1
117.8
130.4
124.9

118.3

104.4
"122.7
"118.7
"128.1
79.2
122.9
' 142.5
r
169.3
123.9
119.2
118.6
"147.1
"115.7
^ 117.9
r
133.1
"127.8

_ o

1.2
100.1

101.5

101.6

100.9

103.0

102.7

102.6

101.5

101.8

"101.6

101.8

103.0

105.1

103.9

114.5
123.2
121.6
122.5
121.0
125.8
117.6
129.2

115.3
123.5
122.1
122.8
121.5
125.5
118.4
129.1

115.3
123.5
122.1
122.7
121.6
126.0
118.4
129.2

115.3
123.6
122.1
123.6
121.2
126.3
117.7
129.5

115.5
123.9
122.5
124.1
121.5
126.0
118.3
129.5

115.2
124.0
122.6
124.2
121.8
125.3
118.9
129.3

114.9
123.8
122.3
123.5
121.6
125.9
118.4
129.5

114.9
123.8
122.3
125.1
120.9
126.0
117.4
129.7

115.3
124.2
122.6
124.4
121.6
126.7
118.1
130.4

115.9
-124.7
"123.1
r
124.4
"122.3
" 127.2
118.9
"130.8

116.3
125.0
123.5
124.4
122.9
127.4
119.6
130.8

116.5
125.7
124.3
126.2
123.3
128.0
119.9
131.0

116.3
125.7
124.3
126.1
123.3
127.9
119.9
131.3

116.5
125.3
123.6
125.0
122.8
128.4
119.1
131.5

.812
.716

.807
.713

.809
.710

.811
.708

.805
.705

.806
.704

.805
.701

.805
.699

.803
.697

.798
.695

.796
.693

.796
.693

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.




.822
.734

.812
.713

SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1963-91

Annual
1991

July 1993

1992
1992

May |

June

July

Aug. |

•

S-7

1993
Sept.

Oct.

Nov.

Jan.

Dec.

Feb.

Mar.

Apr.

May

June

3. CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE i
[Millions of dollars]
'404,064

'436,043

'37,314

'39,934

'40,395

'41,697

'41,486

'41,142

'38,816

'34,772

'29,623

'29,062

'32,694

'35,585

38,837

Private, total #
Residential
New housing units
Nonresidential buildings, except farm and public
utilities, total #
Industrial
Commercial
Public utilities:
Telecommunications

'293,803
'158,028
'110,594

'317,256
'187,820
'129,601

'26,979
'16,105
'10^970

'28,962
'17,546
' 11 i84£

'29,010
' 17,894
'12^109

'29,497
'18,508
'12,406

'29,406
'17,885
'12,333

'30,093
'18,258
'12,316

'28,755
'17,251
' 11,930

'25,946
'15,023
'10,236

'22,466
'13,219
'9,363

'21,736
'12,421
'8,844

'24,662
'14,551
'10,295

'26,398
'15,855
'10,792

28,710
17,505
11,716

'97,842
'22,281
'48,482

'87,240
'20,720
'41,523

'7,288
' 1,767
'3,444

'7,737
' 1,788
'3,801

'7,512
' 1,773
'3,626

'7,421
1,613
'3,626

'7,711
' 1 704
'3,750

'7,686
' 1 725
'3,730

'7,314
' 1 618
'3,537

'6,948
' 1,762
'3,148

'6,222
'1,454
'2.944

'6,546
' 1 543
'3,101

'7,033
'1,781
'3,171

'7,123
'1,562
'3,393

'9,085

'9,273

'776

'821

'811

'761

'845

'868

'768

'952

Public, total #
Buildings (excl military) #
Housing and redevelopment
Industrial
Military facilitiesHighways and streets

'110,263
'49 618
'3,713
'1,825
1,837
'31,651

'118,785
'51,875
'4,151
'1,794
'2,502
'34,929

'10,335
' 4 433
'357
'141
'256
'3,111

'10,972
' 4 602
'366
'154
'212
'3,600

'11,384
' 4 876
'371
'129
'196
'3,729

'12,200
' 4 996
'372
'142
'202
'4,292

'12,080
' 4 701
'322
'201
'263
'4,292

'11,050
' 4 438
'336
'151
'202
'3,792

'10,061
'4116
'333
'153
'216
'3,132

'8,825
'3883
'325
'166
'205
'2,122

147

135

'197
'1,277

'189
'1,351

New construction (unadjusted), total

r

7,462
1 677
3,515

'703

'694

'808

734

7,157
'3,569
'304

'7,326
'3,658
'352

'8,033
'3,893
'336
'167
'228
'1,665

'9,187
'4,189
'370
'200
'2,248

2,817

r

162

10,127
4,262

400
155
196

[Billions of dollars]
New construction (seasonally adjusted at annual
rates), total

'436.7

'434.9

'432.0

'430.4

'433.5

'442.6

'449.3

'455.2

'451.3

'453.8

'454.5

'451.4

453.5

Private, total #
Residential
New housing units
Nonresidential buildings, except farm and public
utilities, total #
Industrial
Commercial
Public utilities
Telecommunications

'3148
'184.4
'128.8

'319.3
'186.7
'129.4

'314 0
'184.6
'126.8

'312 3
'187.3
'127.9

'3174
'189.2
'129.1

'324.8
'194.6
'132.1

'328.2
'199.3
'135.4

'335.4
'206.4
'138.9

'335.5
'207.2
'141.8

'334.8
'205.7
'142.9

'337.0
'205.5
'141.8

'331.3
'200.5
'138.0

334.8
200.8
138.1

'87.9
'21.2
'41.3

'89.7
'20.5
'44.3

'86.8
'21.1
'41.0

'83.0
'18.9
'39.1

'85.3
'19.3
'40.4

'86.4
'19.4
'41.7

'85.6
'19.2
'41.1

'84.5
'20.0
'39.6

'85.5
'19.6
'41.4

'87.9
'20.5
'42.3

'88.9
'22.2
'41.3

'88.0
'19.5
'42.1

89.5
20.1
42.1

'9.2

'9.2

'9.3

'8.9

'9.4

'9.6

'8.8

'10.7

'10.9

'10.0

'9.8

9.1

Public, total # ..
Buildings (excl military) #
Housing and redevelopment
Industrial .
Military facilities
Highways and streets

'121.9
'53.5
'4.5
'1.6
'2.8
'35.6

'115.6
'51.0
'4.3
'1.7
'2.4
'33.8

'118.0
'53.1
'4.3
'1.5
'2.3
'34.4

'118.1
'51.2
'4.4
'1.6
'2.5
'35.5

'116.1
'50.3
'3.7
'1.9
'2.5
'35.5

'117.7
'52.4
'3.8
'2.0
'3.0
'33.4

'121.1
'50.6
'3.7
'2.1

'119.9
'50.0
'3.5

'37.7

'2.4
'33.4

'119.0
'50.9
'4.6
'1.9
'2.7
'33.0

'117.5
'51.3
'4.2
'2.1
'2.6
'33.4

'120.2
'51.4
'4.5
'1.8
'2.4
'34.0

118.7
51.0

2.6

'115.8
'50.4
'4.2
'1.9
'2.6
'30.6

2.1

4.9
1.9
2.3
32.0

CONSTRUCTION CONTRACTS
[Millions of dollars, unless otherwise indicated]
Construction contracts (F.W. Dodge Division,
Mrftrau/ HilhMcoraw-niiij.
Valuation total
Index (mo. data seas, adj.), 1987=100 §§
Public ownership
Private ownership
By type of building:
Nonresidential
Residential
Non-building construction
New construction planning (Engineering NewsRecord^ §

221 230

'243 279

19,787

'24,610

21,678

20,170

20,566

23,836

16,530

16,387

16,380

16,312

21,521

22,098

21,140

'89

97

92

95

95

93

96

106

98

'96

103

98

'97

'98

'92

27,183

104

74,422
146,806

'76,371
'168,426

6,272
15,036

'7,724
'16,886

7,074
14,603

6,037
14,133

6,586
13,979

7,198
16,638

5,318
11,212

4,719
11,668

5,303
11,076

5,780
10,532

6,943
14,579

7,299
14,798

6,791
14,350

9,551
17,632

76,898
96,353
47,978

'82,842
'110,768
'51,193

6,649
9,801
4,859

'8,703
'11,099
'4,809

7,073
9,874
4,731

6,662
9,167
4,341

6,764
9,597
4,205

8,336
10,925
4,575

5,622
7,740
3,168

5,262
8,092
3,033

5,146
7,092
4,142

5,056
7,413
3,842

6,486
10,080
4,956

6,479
10,815
4,803

6,097
10,070
4,973

8,839
11,747
6,598

1,013.9
840.4

1,199.7
1,029.9

115.2
100.2

117"8
102.7

\062
93.2

109.9
91.8

106.0
91.4

111.8
96.1

84.5
74.8

78.6
67.9

70.5
62.8

74.6
65.5

95.5
84.9

'117.8
'104.4

''"12T4
'109.6

129.8
110.8

1 197
1,019

1 141

1,106

961

1,229
1,038

1,218
1,045

1,226
1,079

1,226
1,089

1,286
1,133

1,171
1,051

1,180
1,036

1,124

994

987

'1,206
'1,059

'1,254
'1,110

1,254
1,079

1,106

HOUSING STARTS AND PERMITS
[Thousands]
New housing units started:
Unadjusted:
Total (Dhvate and oublic)
Privately owned
One-family structures
Seasonally adjusted at annual rates:
Total privately owned
One-family structures
New private housing units authorized by building
permits (17,000 permit-issuing places):
Monthly data are seas. adj. at annual rates:
Total
One-family structures
Manufacturers' shipments of mobile homes:
Unadjusted
Seasonally adjusted at annual rates

946
754

1,099

1,053

1,048

1,083

1,081

1,120

1,141

1,136

1,141

1,034

1,101

877

878

882

885

918

954

963

1,196
1,037

1,157

918

972

957

871

925

'1,121
'919

170.9

210.3

17.0

18.2

18.0

19.1

19.8

21.6

18.5

17.5

17.2

18.2

21.0

21.4

20.3

189

194

211

198

219

226

244

266

267

262

247

241

230

'112.2
'112.4

'112.4
'112.7

'112.4
'113.0

'112.8
'113.3

'113.3
'113.9

'113.5
'114.2

'113.8
'114.7

'113.8
114.6

'114.2
'114.8

'114.9
'115.6

'116.3
'116.9

116.7
117.4

427.1
472.0

431.5
475.4

440.5
481.0

454.6
489.9

926

CONSTRUCTION COST INDEXES
Bureau of the Census, 1987=100:
Composite fixed-weighted price index *
Implicit price deflator *

111.2
111.8

'112.2
'112.7

'111.6
'111.9

112.0
114.2
113.0

114.9
117.4
116.7

115.8
117.1
116.1

407.2
450.1

419.4
464.1

418.6
462.2

107.5

105.0

Boeckh indexes, 1987=100 0:
Average, 20 cities:
Apartments, hotels, office buildings ©
Commercial and factory buildings ©
Residences ©
Engineering News-Record, 1967=100:
Building
Construction

117.4
117.7
116.9
420.0
462.9

421.1
464.7

115.3
117.8
117.4
422.4
468.5

422.8
469.4

115.7
117.9
118.3
424.4
470.3

425.2
470.9

116.6
118.4
118.9
425.5
471.0

427.2
472.1

Federal Highway Adm—Highway construction,
J 987=700:
Composite (avg. for year or qtr.)
See footnotes at end of tables.




110.4

99.9

107.0

109.7

2

453.9
489.7

1

b-o

•

July 1993

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

Annual
1991

STATISTICS, 1963-91

1993

1992
1992

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

|

Feb.

May

Apr.

Mar.

June

3. CONSTRUCTION AND REAL ESTATE-Continued
REAL ESTATE 0
[Thousands of units]
Mortgage applications for new home construction:
FHA applications
Seasonally adjusted annual rates

98.0

94.1

7.9

8.4
90

7.1
110

101

Requests for VA appraisals
Seasonally adjusted annual rates ....
[Millions of dollars]
Home mortgages insured or guaranteed by:
Fed. Hous. Adm.: Face amount
Vet. Adm.: Face amount §

46,990.04

48,315.15

3,910.67

4,603.26

79,065

79,881

Federal Home Loan Banks, outstanding advances to
member institutions, end of period
New mortgage loans of SAIF-insured institutions,
estimated total @
By purpose of loan:
Home construction
Home purchase
All other purposes

4,797.76 4,588.95

4,319.72

3,497.24

3,914.13

4,730.80

4,937.40

5,160.00

79,881

79,327

82,260

76,409

76,860

76,194

77,078

80,158

79,349

80,954

1

143,674

16,384

16,285

14,306

15,596

18,858

19,456

1,314
14,642
428

1,371
14,335
577

1,288

1,110

12,570
447

14,050
435

1,161
16,909
787

1,181
17.855

84,970

88,602

90,549

6,594.00

92,076

18,134

12,261
1
125,594
'5,819

6,492.00 5,076.00 '5,148.00

1,237
16,482
415

419

4. DOMESTIC TRADE
ADVERTISING
[Millions of dollars]
Magazine advertising (Leading National Advertisers):
Cost, total
Apparel and accessories
Automotive, incl. accessories
Building materials
Drugs and toiletries
Foods, soft drinks, confectionery
Beer, wine, liquors
Houshold equipment, supplies, furnishings
Industrial materials
Soaps, cleansers, etc
Smoking materials
Allother
Newspaper advertising expenditures (Newspaper
Advertising Bureau, Inc.):
Total
Classified
National
Retail

30,667
10.759
3.835
16,073

7,756
2,594
1,085
4.077

1,771,614 1,828,041
859,492 904,522
912.122 923,519

146,801
71.534
75,267

156,221
79,133
77,088

155.906
76,869
79.037

152,291
75.870
76,421

157,384
78,780
78,604

163,877
82,073
81,804

150,562
75.185
75,377

156,341
77,587
78,754

145,650
71,901
73,749

143,500
72,246
71,254

165,910
84.121
81,789

-160,999
-81,453
-79.546

159,900
79,361
80,539

210,419
132,650
77,769

199,866
129,666
70.200

202,282
130,698
71,584

202,882
131,408
71,474

200,923
131,493
69,430

201,722
131,206
70,516

207,292
131,792
75,500

209,844
132,688
77,156

210,419
132,650
77,769

214,152
134,061
80,091

212,595
134,533
78,062

212,399
135.285
77.114

-213,634
-136.702
-76,932

211,161
136,711
74,450

1,865,477 1,962,423
653,900 705,096

165,756
60,479

164,627

166,011

166,341

160,612

168,729

167,175

204,100

148,525

145,341

164,602

62,783

62,095

59,579

59,501

60,629

56,691

67,850

52,647

52,415

61,539

-170,150 "175,275
-64,964 -66,794

9,503
36.177
8,746

8,971
33,705
8,714

9,107
34,097
8,565

9,198
34,662
8,975

7,982
30,615
9,472

8,282
31.120
12,654

6,841
30,168
8,611

6,962
30,757
8,029

8,339
37,143
8,973

30,348
10,587
3,924
15,838

7,465

8,784
3,201

6,977
2,391

914
3,852

879
4,703

3,689

967

WHOLESALE TRADE t
[Millions of dollars]
Merchant wholesalers sales (unadj.), total
Durable goods establishments
Nondurable goods establishments
Merchant wholesalers inventories, book value (nonLIFO basis), end of period (unadj.), total
Durable goods establishments
Nondurable goods establishments

202,509
127,357
75,152

RETAIL TRADE i
[Millions of dollars]
All retail stores:
Estimated sales (unadj.), total
Durable goods stores #
Building materials, hardware, garden supply,
and mobile home dealers
Automotive dealers
Furniture, home furnishings, and equipment ..
Nondurable goods stores
General merch. group stores
Food stores
Gasoline service stations
Apparel and accessory stores
Eating and drinking* places
Drug and proprietary stores
Liquor stores
Estimated sales (seas, adj.), total
Durable goods stores #
Bldg. materials, hardware, garden supply, and
mobile home dealers #
Building materials and supply stores
Hardware stores
Automotive dealers
Motor vehicle and miscellaneous auto
dealers
Auto and home supply stores
Furniture, home furnishings, and equipment #
Furniture, home furnishings stores
Household appliance, radio, and TV stores
See footnotes at end of tables.




95,229
368,943
98,612
1.211,577
228,473
376,892
134,100
97,464
196,875
75,883
23,990

175,776
69,580

-9,641
-38,772
-8,945

-10,697
-38,964
-9,074

10,676
41,327
9,401

105,186
-20,144
-32,224
-11,061
-8,788
-17,606
-6,668
-1,900

-108,481
-21,479
-33.380
-11,518
-8,804
-18,123
-6,614
1,975

106,196
20,459
32,810
11,541
8,364
18,232
6,435

r

171,173

171,859

-63,636

64,079

9,027
-6,639
-1,064

-9,265
6,738
1,135

9,117

103,031
398,067
105.844

34,722
8.220

9,843
36,699
8,505

1,257,327
247,354
384,013
133,000
104,994
201,866
77,285
25,619

105,277
19,976
32,868
11,475
8,486
17,521
6,420
2,169

101,844
18,779
32,107
11,655
8,115
16,779
6,273
2,140

103.916
18,537
33,656
11,940
8,100
17,225
6,266
2,265

106,762
20,507
32.672
11.886
9,374
17,808
6,276
2,214

101,111
18,734
31,279
11,279
8,491
16,590
6,056
2,109

108,100
20,950
32,497
11,670
9,114
17,658
6,405
2,212

110,484
25,086
31,450
11,087
9,815
16,578
6,134
2,173

136.250
37,290
34,958
11,237
14,876
17,251
8,066
2.893

95.878
16,098
31,404
10,402
6,687
15,947
6,152
1,873

92,926
16,345
29,498
10,003
6,489
15,381
6,202
1,770

103,063
19,060
31,838
10,863
7,797
17,185
6,654
1,877

r

"161.106

-161,124

162,316

163.224

164,211

167,603

167,291

169.155

169,232

169,116

167,390

'170,538

'•57,432

-57,769

58,352

59,172

61,051

60,610

61,873

62,216

60,978

60,723

-62,804

-8.517
r
6.140
-1.069

-8.405
6,032
-1,055

8,437
6,106
1,079

8,384
6,097

8,618
6,269
1,089

8,745
6,348
1,074

8,623
6,229
1,078

9,069
6,504
1,072

8,943
6,471
1,069

8,974
6,590
1,058

8,834
6,525
1,075

-32.378

-32,616

32,881

32,789

33,282

34,924

34,671

34,952

35,274

34,731

34,733

-35,896

-36,447

36,870

'29,591
-2.787

29,816
-2,800

30,036
2,845

29,960
2,829

30,419
2,863

31,979
2,945

31,746
2,925

32,024
2,928

32,329
2,945

31,682
3,049

31,787
2,946

-32,926
-2,970

-33,476
-2,971

33,906
2,964

-8.483
-4,432
-3,275

-8,630
4,547
-3,289

8,770
4,625
3,331

8,788
4,618
3,377

8,812
4,604
3,394

9,019
4,622
3,550

9,081
4,633
3,601

9,429
4,828
3,617

9,398
4,732
3,689

9,182
4,628
3,621

9,170
4,630
3,601

-9,420
-4,759
-3,628

-9,432
4,807
3,620

9,477

SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1963-91

Annual
1991

July 1993

1992

May

1992

June

July |

Aug.

•

S-9

1993
Nov.

Oct. |

Sept.

Dec.

Jan.

Feb.

Mar.

May

Apr.

June

4. DOMESTIC TRADE-Continued
RETAIL TRADE ^-Continued
[Millions of dollars—Continued]
All retail stores—Continued
Estimated sales (seas, adj.)—Continued

Nondurable goods stores #
General merch. group stores
Department stores excluding leased
departments
Food stores
Apparel and accessory stores
Firms with 11 or more stores:
Estimated sales (unadj.), total
Durable goods stores
Auto and home supply stores
Nondurable goods stores #
General merchandise group stores ,
Food stores
Grocery stores
Apparel and accessory stores
Eating places
Drug stores and proprietary stores ..

105,039
20,871

106.552
21,074

106,681
21,111

107,282
20.981

107.016
21.623

108,138
21,638

106,667
21,179

'107,734
'21,632

'15,294
555

15,531
538

15,717
531

15,809
534

15,987
543

16,060
540

16,006
548

16,491
525

16,296
534

15,843
529

31,614
29,694
'11,206

'31,778
29,838
'11,185

31,930
29,979
11,232

32,197
30,254

32,195
30,227
11,072

32,306
30,408
11,054

32,683
30,536
11,082

32,543
30,504
11,173

32,887
30,864
11,537

32,248
30,342
11,423

'8,666

8,774

8,749

31,815
29,865
11,058
8,835

'16,285
'531
'32,468
'30,448
'11,522

' 8,486

8,967

9,037

9,120

9,100

8,900

8,443

'8,770

758

752

763

768

'719

700

3,362
1,413

3,392
1,392

3,27!
1,396

732
3,07;
1,361

'3,220
'1,400

3,263
1,444

17,549
6,282
2,135

17,315
6,442
2,097

17,205
6,662
2,080

17,271
6,641
2,042

'17,518
'6,628
'2,023

'17,409
'6,647
1,981

757

'770

16,550
6,457
2,162

3,200
1,490
16,843
6,395
2,204

17,363
6,437
2,230

758
3,276
1,435
17,414
6,311
2,199

'3.162
'1.477

'3.156
1,493

3,108
1,508

3,181
1,500

' 16,639
' 6,452
'2,154

Eating and drinking places
Drug and proprietary stores
Liquor stores

Book value (non-LIFO basis), (seas, adj.), total..
Durable goods stores*
Bldg. materials, hardware, garden supply,
and mobile home dealers
Automotive dealers
Furniture, home turn., and equipment

104,855
20,757

r

Apparel and accessory stores #
Men's and boys' clothing and furnishings
stores
Women's clothing, specialty stores, and
furriers
Shoe stores

Nondurable goods stores*
General merch. group stores
Department stores excluding leased
departments
Food stores
Apparel and accessory stores

r

103,964
20,461

'15,353
'557

Food stores
Grocery stores
Gasoline service stations

Estimated inventories, end of period:
Book value (non-LIFO basis), (unadjusted), total
Durable goods stores #
Bldg. materials, hardware, garden supply,
and mobile home dealers
Automotive dealers
Furniture, home furnishings, and equipment

r

103.355
'20.159

'103.674
' 20,205

Nondurable goods stores
General merch. group stores
Department stores excluding leased
departments
Variety stores

'16,041
'6,421
'2,138

16,083
6,433
2,137

3,244
1,475

107,53'
'21,814

107,780
21,929

'16,471
539

16,646

'32,389
'30,436
'11.248

32,387
30,451
11,140

242,150
120,954

256,642
132,710

248,822
126,098

248,060
125,688

250,363
124,561

249,860
122,981

256,592
124,662

270,282
130,497

276,098
134,966

256,642
132,710

254,569
131,189

259,815
134,725

267,858
138,748

'269,881
'139.714

267,517
138,571

16,911
62,344
18,746

18,088
67,551
21,330
123,932
44,604

19.267
63,607
19,075

18,781
63,269
19.088

18,713
61,123
19,302

18,439
58,982
19,643

18,563
61,070
21,891

18,717
66,595
20,608

19,774
69,143
20,075

20,675
71,212
20,897

'20,730
'70,785
'21,419

20,751
69,496
21,467

122,372
44,078

125,802
45,882

126,879
46,689

18,253
64,292
22,906
141,132
55,579

18,088
67.551
21.330

122,724
44,302

18,357
58,906
20,394
131,930
50,284

123,932
44,604

123,380
45,185

125,090
46,621

129,110
49,488

"130,167
'50,233

128,946
49,513

35,045
35,149
26,306
27,298
20,027
20,066
260,647 '251.284
131,549 r 125,411

34,774
26,387
19,650

36,124
26,345
21,023

36,793
25,872
21,992

35,045
27,298
20.066

35,589
26,864
19,923

36,861
26,542
20.919

39,044
26,818
21.690

'39,435
'26,828
'22,179

39,117
26,776
21,980

252.568
125,844

254,984
127,018

254,145
127,334

260.647
131,549

262,427
132,861

265.718
135,599

269,052
137,803

'270,311
138,784

17,464
6,620

270,321
137,895

121,196
42,262
33,374
26,571
18,392
245,885
119,828

'18,437
'62,846
'19,385

18,163
63,016
19,537

18,676
62,969
19,797

18,625
63,172
19,902

126,057
45,986

18,822
64,485
21,567
129,098
48,538

'125,873
'46,031

126,724
46,561

127,966
47,185

36,197
26,158
20,211

38,010
26,849
22,051

36,386
'26,374
20,519

36.798
26,478
20.490

767,107

813,203
112,352
11,881
700,851
234,973
228,424
224,559
66,291
48,056
47,794

67,715
9,397
1,025

39,366
26,235
22,402
254,884
126,900

102,965
11,213
664,142
216,366
224,518
220,915
61,060
45,588
46,025

Estimated sales (sea. adj.), total
Auto and home supply stores
Department stores excluding leased departments
Variety stores
Grocery stores
Apparel and accessory stores
Women's clothing, specialty stores, and
furriers
Shoe stores
Drug stores and proprietary stores

126,811
46,951

18,693
62,315
19,975
127.984
47,734

37,318
26,608
20,898

37,315
26,385
20,965

65,042

65,714

68,120

9,394
1,055

9,265
1,086

9,214
1,037

58,318
18,936
19,502
19,192
5,326
4,255
3,977

55.648
17,810
18,686
18,382
5,102
4,015
3,879

56,449
17,558
19,686
19,383
4,950
4,180
3,781

58,906
19,505
19,142
18,854
5,912
4,242
3,823

'67,174

17.597
59,535
18,935

67,213
976
15,089
381
18,568
5,464

67,600
981
15,294
376
18,620
5,559

1,934

1,882
1,014
3,963

'976
'15,095
380
'18,561
'5,333
'1,922

'972

991

'4,029

3,995

139,785
54,935
43,022
27,389
23,641

255.540
127,760

43,584
27,850
24,094
256,895
128,884

18,822
64,485
21,567

19,316
65,617
21,245

19,715
67,696
21,043

19,918
69,317
21,237

'19,952
'69.602
'21,679

19,857
68,727
21,794

127,780
47,769

18,856
62,590
21,015
128,011
47,905

129,098
48,538

129,566
48,883

130,119
49,498

131,249
50.403

'131,527
'50,651

132,426
51,502

37,671
26,556
21,035

37,508
26,697
21,241

37,411
26,730
21,667

38,010
26,849
22,051

38,350
26,909
22,285

38,924
26,963
22.020

39,558
27,076
22,201

'39,633
'27.050
'22,380

40,536
26,852
22,520

69,157

60,222

58,466

66,053

'68,271

70,888

14,801
995

8,210
877

7,848
886

9,108
1,032

'9,704
1,079

10,249
1,113

83.323
35,693
20,885
20,335
9,910
4,050
5,408

52,012
15,290
18,939
18,676
4,009
3,909
3,804

50,618
15,590
17,723
17,438
3,930
3,699
3,806

56.945
18,193
19,190
18,902
4,922
4,121
4,037

'58,567
'19,182
'19,294
'18,980
'5,591
'4,154
'4,088

60,639
20,465
19,983
19,699
5,603
4,123
4,099

68,855
1,005
15,756
386
18,735
5,667

73,374
9,844
981
63,530
23,941
18,708
18,431
6,307
3,942
3,805
68,711
1,002
15,844
372
18,788
5,647

98,124

68,093
976
15,482
376
18,968
5,474

64,461
9,016
1,018
55,445
17,754
18,438
18,158
5,335
3,944
3,704
68,182
993
15,570
385
18,585
5,592

68,757
999
15,770
378
18,846
5,792

70,063
1,040

70,517
1,092

69,525
1,060

'70,497

1,065

70,751
1,073

16,308
367
18,922
5,750

16,078
374
19,269
5,557

15,654
363
18,978
5,407

'16,037
373
'19,114
'5.552

16,184
375
19,219
5,668

1,959
1,011
3,966

1,952
1,009
3,957

2,004
1,013
4,008

1,976
986
3,911

2,091
1,004
3.913

2,102

2,013

1,962

'1,996

995

995

953

3,996

4,101

4,090

'959
'4,096

2,039
1,010
4.145

194,456
128,179

194,618
127,983
1,492

194,767
129.291
1,484
193,283
127,807
119,201
8,606

127.341

128,131
66.3
119,273

128,127
66.2
119,219

19,117
62,077
20,251

9,325
1,082
59,832
19.873
19,355
19,053
5,671
4,189
3,924

5. LABOR FORCE, EMPLOYMENT, AND EARNINGS
LABOR FORCE AND POPULATION
[Thousands, unless otherwise indicated]
Not seasonally adjusted:
Noninstitutional population, persons 16 years of
age and over .

193,142
128,548
1,566

192,881
128,279

1,574

193.025
130,572
1,570

8,426

191,576
126,982
117,598
9,384

191,307
126,705
117,535
9,169

191,455
129,002
118,907
10,095

66.0

66.3

127,039
66.4
117,580

117,510

191,329

126,867
Resident Armed Forces .
Civilian noninstitutional population
Civilian labor force, total
Employed
Unemployed

1,564
189,765

125,303
116,877

Seasonally adjusted: 0
Civilian labor force, total
Participation rate, percent f ..
Employed, total
Employment-population ratio,
percent t
Agriculture
Nonagriculture

61.6
3,233
113,644

61.4
3,207
114,391

114,394

61.4
3,244
114.266

Unemployed, total
Long term, 15 weeks and over .

2,323

3,354

9,459
3.349

9,788
3,432

See footnotes at end of tables.




61.5
3,186

127.298

66.5

193,190
131,168
1,568

193,356
130,039
1,566

191,622
129,600

119,754

191,790
128,473
119,082

9,845

193,513
128,610
1,566

193,683
128,398
1,552

193,847
128,618
1,531

194,026
128,419
1,517

194,159
127,549
1,515

194,298
128,017
1,512

192,131
126,846
118,246
8,600

192,316
127,087
118,239
8,848

192,509

192,644

126,902
118.073

116,123

8,829

9,911

192,786
126,505
116,735
9,770

126.682
117,406

9,390

191,947
127,044
117,953
9,090

9,276

193,126
126,491
117,856
8,635

127,350
66.5
117,722

127,404
66.4
117,780

127,274
66.3
117,724

127,066
66.1
117,687

118,064

127,591
66.3
118,311

127,083
66.0
118,071

127,327
66.0
118,451

127,429
66.0
118,565

118,416

61.4
3,207

61.4
3,218
114,562

61.3
3,221
114,503

61.3
3,169
114.518

114,855

61.5
3.262
115.049

61.3
3,191
114,879

61.4
3.116
115,335

61.4
3,082
115,483

3.060
115.356

61.7
3,070
116.203

116,195

9,624
3.547

9.550
3.522

9.379
3,564

9,301
3,446

9,280
3.605

9,013
3,317

8,876
3,143

8,864
3,073

8,925
2,926

8,858
3.004

8,908
2.849

114,515
9,628
3,547

127,365
66.2

61.4

3,209

126,034

1,497
192,959

65.9
61.3

194,933
131,316
1,477
193,456

129,839
120,586

9,252

61.6
3,024

S-10 • July 1993

SURVEY OF CURRENT BUSINESS
1992

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1963-91

1991

1992

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

5. LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued
LABOR FORCE-Continued
Seasonally adjusted 0—Continued
Civilian labor force—Continued
Unemployed—Continued
Rates *:
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

6.7
63
5.7

7.4
70
6.3

7.4
72
6.2

7.7
73
6.3

7.6
72
6.4

18.6

20.0

19.9

22.8

20.6

7.6
72
6.4

7.5
71
6.4

7.4
72
6.2

7.3
69
6.2

19.9

20.4

18.9

20.2

7.3
68
6.4
19.2

7.1
64
6.4
19.7

7.0
65
6.0
19.6

7.0
67
5.7

7.0
64
6.0

6.9
6.4
5.9

7.0
65
5.9

19.5

20.7

19.7

19.8

6.0

6.5

6.5

6.8

6.6

6.6

6.6

6.5

6.4

6.3

6.2

6.1

6.1

6.0

6.0

6.1

12.4

14.1
11.4

14.5
11.3

14.5
11.8

14.4
11.8

14.2
11.3

13.9
11.6

14.1
11.7

14.0
12.0

14.2
11.7

14.2
11.6

13.1
11.4

13.5
11.4

13.8
10.4

12.9

13.3
10.2

5.0
5.0
9.9

5.0
5.0
9.9

5.1
5.2

5.2
5.2

5.3
5.0

4.5
4.9

4.5
4.4

10.3

5.1
5.1
9.3

4.8
5.0

10.3

5.2
5.0
9.1

4.9
5.0

10.1

10.4

10.3

10.6

10.2

4.7
4.3
9.0

4.5
4.8
9.6

9.9
4.4
4.5
9.1

9.7
4.5
4.5
9.9

4.4
4.7
9.8

7.0

7.7

7.7

7.9

7.8

7.9

7.8

7.8

7.5

7.5

7.3

7.2

7.2

7.2

7.2

7.2

15.4

16.7

16.9

17.4

17.0

17.0

17.4

16.1

14.5

15.7

14.3

13.7

15.3

14.5

15.4

15.5

7.2
7.5

7.8
8.0

7.7
7.8

8.1
8.1

8.2
8.4

8.0
8.3

8.1
8.4

8.2
8.9

8.0
8.5

7.2
7.5

7.3
7.3

7.2
6.9

7.3
7.0

7.2
7.2

7.1
7.0

7.4
7.6

11.6

12.3

13.3

12.8

13.8

11.4

14.3

12.5

13.5

12.2

11.6

13.1

12.1

11.2

10.4

11.9

2.8

3.1

3.2

3.3

3.4

3.7

3.5

3.1

2.8

3.0

3.3

3.4

3.0

2.8

3.0

2.9

51
7.5
7.9

58
8.1
8.8

57
8.3
8.3

60
8.6
8.3

61
7.9
7.5

61
8.0
7.4

6.0
8.7
9.9

5.5
8.0

5.2
7.3
9.1

10.7

10.7

10.7

10.0

6.3

6.5

6.7

6.7

10.0
10.0

10.4

11.9
12.1

11.8
10.3

10.1

8.1

10.2
12.1
12.6

5.2
7.7
9.9

11.0

5.4
7.6
8.7
9.9

7.6

58
7.8
7.2
9.6
7.0

5.4
8.0
7.9

10.5

60
8.0
7.5
9.7
7.9

5.2
7.8
7.6
9.4
5,3

5.7
7.7
7.7
9.6
6.1

108,256
89,854

108,519
89,866

108,908
89,914

109,398
90,698

108,353
90,654

108,384
90,819

109,129
90,673

109,616
90,660

109,865
90,698

109,856
90,783

107,678
88,971

108,241
89,177

108,672
89,502

' 109.582 '110,500
' 90,421
'91,300

110,994
92,087

108,256
89,854
71,448
23,745

108,519
89,866
71,826
23,142

108,470
89,852
71,743
23,237

108,454
89,834
71,761
23,172

108,605
89,934
71,861
23,160

108,615
89,906
71,915
23,073

108,674
89,945
71,996
23,012

108,789
90,079
72,168
22,995

108,921
90,159
72,242
22,995

109,079
90,313
72,400
22,985

109,235
90,480
72,544
23,001

109,539
90,762
72,808
23,069

109,565 ' 109,820 '110,035
90,777
' 91,020
'91,212
-73,157
72,842
'73,392
' 22,980
'22,994
23,016
'602
'600
600
4,517
4,481
'4,572

110,048
91,220
73,453
22,928

7.7

EMPLOYMENT §
[Thousands]
Employees on nonfarm payrolls by industry:
Total, not adjusted for seas, variation
Private sector (excl. government)
Seasonally adjusted:
Total employees, nonfarm payrolls
Private s©ctor (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
Industrial machinery and equipment
Electronic and other electrical equipment
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 misc. plastics products
Leather and leather products
Service-producing
Transportation and public utilities
Wholesale trade
Retail trade
Finance insurance and real estate
Services
Government
Federal
State
Local
Production or nonsupervisory workers on private
nonfarm payrolls not seas adjusted
Manufacturing, not seas, adjusted
Production or nonsupervisory workers on private
nonfarm payrolls
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
Industrial machinery and equipment
Electronic and other electrical equipment
Transportation equipment
Instruments and related products
Miscellaneous manufacturing
See footnotes at end of tables.




689

631

637

630

628

623

616

618

616

613

611

600

4,650

4,471

4,491

4,469

4,459

4,459

4,447

4,466

4,462

4,459

4,454

4,515

18,406
10,569

18,040
10,237

18,109
10,286

18,073
10,260

18,073
10,236

17,991
10,192

17,949
10,164

17,911
10,135

17,917
10,142

17,913
10,136

17,936
10,152

17,954
10,163

17,935
10,144

675
475
522
723

674
476
512
693

674
477
514
696

672
478
514
695

671
481
513
693

671
477
512
691

671
475
512
689

677
475
511
687

681
476
511
686

683
477
511
683

683
477
510
684

690
480
515
683

690
480
513
682

1,355
2,000
1,591
1,890

1,322
1,922
1,526
1,822

1,329
1.933
1,529
1,839

1,325
1,929
1,525
1,831

1,321
1,924
1,522
1,821

1,320
1,919
1,515
1,806

1,316
1,919
1,515
1,789

1,312
1,912
1,512
1,776

1,312
1,911
1,513
1,782

1,310
1,909
1,514
1,784

1,318
1,908
1,517
1,792

1,320
1,907
1,520
1,786

1,320
1,904
1,525
1,771

' 17,863
' 10,090
'683
'480

511
678
1,316
' 1,904
1,519
1,743

595
4,566

"17,820
'10,041

17,767
10,006

678

678
482
510
673

'482
'512

678

974
366

925
363

930
365

926
365

923
367

919
362

916
362

912
361

908
362

903
362

902
361

900
362

896
363

364

'1,308
1,900
'1,513
' 1.720
'887
'363

7 837
1,667

7 804
1,655

7,823
1,660

7,813
1,656

7,837
1,666

7,799
1,654

7,785
1,646

7,776
1,649

7,775
1,650

7,777
1,650

7,784
1,656

7,791
1,659

7,791
1,658

' 7,773
"1,651

'7,779
'1,650

7,761
1,643

49
667
994
687

47
668
993
687

48
670
992
686

48
669
993
685

48
670
993
684

48
669
992
684

48
670
987
682

48

48
667
984
680

49
670

49
671

49
672

49
673

49
674

50
670

1,006

1,005

1,011

1,008

1,016

1,001

r

892

1,303
1,900
1,505
1,712

881
362

688

687

689

688

688

687

49
671
997
690

1 536
1,076

1 504
1,083

1,505
1,085

1,503
1,084

1,504
1,083

1,503
1,084

1,504
1,081

1,501
1,082

1,501
1,081

1,501
1,080

1,499
1,080

1,502
1,078

1,503
1,078

1,503
1,074

'682
1,506
'1,077

1,503
1,079

160
862
124

159
872
119

160
872
120

159
874
119

159
876
122

158
873
119

157
871
119

157
871
119

157
873
118

156
876
118

157
880
117

157
883
117

156
886
117

156
886
116

156
886
116

156
886
115

84,511
5,762
6,081
19,284
. 6,646
28,336
18,402
2,966
4,355
11,081

85 377
5,709
6,045
19,346
6,571
29,053
18,653
2,969
4,403
11,281

85,233
5,711
6,045
19,357
6,577
28,925
18,618
2,980
4,394
11,244

85,282
5,711
6,042
19,344
6,569
28,996
18,620
2,973
4,388'
11,259

85,445
5,707
6,037
19,360
6,559
29,111
18,671
2,962
4,415
11,294

85,542
5,701
6,037
19,359
6,558
29,178
18,709
2,961
4,412
11,336

85,662
5,704
6,037
19,380
6,565
29,247
18,729
2,966
4,436
11,327

85,794
5,699
6,052
19,402
6,570
29,361
18,710
2,945
4,426
11,339

85,926
5,699
6,061
19,405
6,569
29,430
18,762
2,943
4,424
11,395

86,094
5,707
6,062
19,460
6,575
29,524
18,766
2,968
4,431
11,367

86,234
5,719
6,086
19,523
6,578
29,573
18,755
2,945
4,435
11,375

86,470
5,725
6,097
19,629
6,577
29,665
18,777
2,944
4,439
11,394

86,549
5,724
6,103
19,604
6,574
29,756
18,788
2,938
4,443
11,407

' 86,840
" 5,720
'6,110
' 19,648
'6,585
' 29,977
'18,800
'2,923
'4,458
'11,419

'87,041
'5,723
'6,122
'19,687
'6,590
'30,096
'18,823
'2,915
'4,462
'11,446

87,120
5,718
6,111
19,724
6,587
30,152
18,828
2,903
4,468
11,457

72 650
12,434

72 866
12,241

72,889
12,254

73,631
12,348

73,596
12,243

73,775
12,334

73,663
12,349

73,691
12,274

73,742
12,237

73,833
12,188

72,113
12,077

72,324
12,086

72,634
12,092

'73,481
'12,088

'74,326
'12,116

75,041
12,196

72,650
16,472

72,866
16,103

72,827
16,174

72,830
16,127

72,933
16,127

72,912
16,057

72,985
16,017

73,131
16,015

73,215
16,025

73,380
16,031

73,543
16,041

73,831
16,121

449

445

443

440

437

438

436

434

432

424

3.549
12,434
6,967

3,417
12,241
6,793

3,435
12.290
6,824

3,416
12,266
6,808

3,408
12,276
6,798

3,408
12,209
6,768

3,399
12,181
6,753

3,419
12,158
6,738

3,414
12,175
6,754

3,414
12,183
6,757

3,399
12,210
6,775

3,463
12,234
6,790

553
373
403
545
991

553
375
395
524
970

554
377
397
526
975

551
378
397
525
972

550
380
396
525
970

550
376
395
523
969

551
374
395
522
966

555
375
394
520
962

560
375
394
520
964

562
376
395
519
962

562
377
394
520
969

569
379
398
520
972

569
379
397
520
973

1,193

1,148

1,153

1.151

1,148

1 147

1,149

1,146

1 148

1,148

1,149

1,149

1 147

'74,262
'16,105
'426
'3.530
'12,149
'6,714
'557
'380
'395
'517
'964
'1,147

74,224
16,047

445

73,827
16,088
424.
3,433
12,231
6,783

'74,014
'16,068

489

423
'3,467
'12,178
'6,745
'561
'379

393
516
969
'1,148

'670

988

417
3,517
12,113
6,695

556
380
393
513
963
1,150

999

969

972

970

968

964

963

963

965

967

964

970

973

970

967

964

1,169

1,141

1,148

1,145

1,142

1,134

1,124

1,117

1,124

1,126

1,140

1,132

1,125

455
262

458
264

456
263

455
264

451
259

449
260

447
259

445
259

443
259

442
258

441
260

439
261

1.093
'433
'261

1,088

479
263

'1,109
'438
'262

429
259

July 1993

SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1953-91

Annual
1991

|

1992

1992

May

June

July

Aug.

•

S-11

1993
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar. |

Apr. |

May |

June

5. LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued
EMPLOYMENT ^-Continued
[Thousands]
Seasonally adjusted—Continued
Production or nonsupervisory workers—Continued
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 misc. plastics products
Leather and leather products
Service-producing
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services

5 467
1,205

5,448
1,206

5,466
1,210

5 458
1,208

5,478
1,218

5 441
1,206

5 428
1,198

5,420
1,201

5 421
1,203

5,426
1,205

5,435
1,210

5 444
1,212

5 448
1,212

' 5 433
'1,206

36
574
841
517
847
580
103
662
100

37
575
842
518
831
567
104
673
97

37
576
848
519
832
569
105
673
97

37
576
845
518
831
568
104
675
96

37
577
851
518
832
565
104
678
98

37
573
839
518
830
565
104
673
96

37
574
835
520
830
563
104
671
96

37
569
833
517
829
563
103
672
96

35
571
832
517
829
562
103
674
95

36
572
832
516
830
562
102
676
95

36
571
833
516
829
563
103
680
94

36
571
832
517
831
563
104
684
94

36
569
834
517
832
565
103
686
94

36
571
828
514

56,178
4 792
4,872
17,006
4,795
24,712

56,763
4 769
4,856
17,036
4,750
25,352

56 653
4 768
4,853
17,049
4,750
25,233

56 703
4 771
4,853
17,035
4,746
25,298

56,806
4 766
4,849
17,049
4,741
25,401

56,855
4,758
4,852
17,047
4,745
25,453

56,968
4 768
4,854
17,065
4,751
25,530

57,116
4 766
4,870
17,090
4,755
25,635

57,190
4 767
4,880
17,100
4,755
25,688

57,349
4 779
4,880
17,146
4,762
25,782

57,502
4 793
4,904
17,211
4,769
25,825

57,710
4 801
4,915
17,314
4,769
25,911

34.4
34 5
44.1
38.9

34.5
43.8
39.0

34.6
34.3
43.8
38.9

34.9
34.6
44.3
39.1

34.3
34.2
43.9
37.1

34.4
34.4
44.1
39.0

34.5
34.6
44.1
37.5

34.5
34.3
43.7
37.2

34.0
34.5
44.0
36.1

41.1
41.2

41.3
41.1

40.7
41.1

41.1
41.1

41.0
41.0

41.3
41.1

41.6
41.2

41.9
41.2

41.1
41.4

' 5 435
1,203

5,418
1,197

36

93

103
686
93

36
568
824
514
832
567
102
685
93

57 739
4 794
4,923
17,274
4,769
25,979

57,946
4 792
4,924
'17,302
4,767
'26,161

'58,157
'4,792
'4,932
'17,356
'4,774
'26,303

58,177
4,789
4,922
17,361
4,779
26,326

34.1
34.4
43.6
36.7

34.0
34.2
43.4
37.4

34.2
34.4
'44.3
37.8

34.7
'34.7
'44.6
'39.2

34.6
34.4
44.3
39.3

41.1
41.4

40.9
41.2

'40.9
41.5

41.4
41.3
41.9

r

832
'565

103
'685
r

'571
'829
'514
'833
'567

AVERAGE HOURS PER V/EEK §
/Hoars]
Seasonally adjusted:
Average weekly hours per worker on private
nonfarm payrolls: 0
Not seasonally adjusted
Seasonally adjusted
Mining
Construction ±
Manufacturing:
Not seasonally adjusted
Seasonally adjusted
Overtime hours
Durable goods
Overtime hours
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electrical equipment ...
Transportation equipment
Instruments and related products
Miscellaneous manufacturing
Nondurable goods
Overtime hours
Food and kindred products
.
•
Tobacco manufactures *
Textile mil! products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products *
Rubber and misc. plastics products
Leather and leather products
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate ?
Services

34.3

34.4

44 4
38.1

43 9
38.0

40.7

41.0

343

3.6

3.8

4.0

3.8

3.8

3.8

3.6

3.8

3.9

3.9

4.0

4.2

4.0

4.2

'41.3
'41.4
'4.1

41.1

41.5

41.8

41.6

41.6

41.6

41.4

41.6

41.8

41.8

42.0

42.1

42.0

42.2

M2.1

4.0

3.5

3.7

4.0

3.8

3.8

3.8

3.5

3.8

3.9

3.9

4.0

4.3

4.2

4.4

4.3

4.2

40.0
38.9
41.7
42.2
41.2
41.7
40.7
41.9
41.0
39.7

40.6
39.7
42.2
43.0
41.6
42.2
41.2
41.8
41.1
39.9

40.8
40.0
42.4
43.3
41.8
42.4
41.5
42.1
41.3
40.0

40.4
39.9
42.2
43.1
41.6
42.2
41.2
41.9
41.2
40.0

40.8
39.9
42.4
43.1
41.9
42.2
41.3
41.6
41.2
40.0

40.6
39.6
42.3
43.1
41.6
42.3
41.3
42.2
41.2
39.9

40.5
39.6
42.4
42.9
41.3
42.1
41.1
41.5
41.2
39.8

40.7
39.9
42.3
42.9
41.7
42.4
41.4
41.7
41.3
40.0

40.8
40.1
42.4
43.1
41.8
42.7
41.5
41.9
41.2
39.9

40 5
40.0
42.2
43.3
41.8
42.6
41.4
42.4
41.1
39.8

40.6
40.2
42.5
43.6
42.0
42.7
41.7
42.5
41.2
39.9

40.8
40.3
42.5
43.8
42.1
42.9
41.7
42.8
41.0
39.9

40.6
40.1
42.2
43.9
41.9
42.8
41.6
42.7
41.1
39.9

40.5
40.0
'42.5
44.2
42.1
'43.1
41.8
42.9
41.3
40.3

'40.7
'39.8
'42.8
'43.7
41.9
43.0
'41.8
'42.8
41.3
'39.8

40.6
39.7
42.7
43.3
42.0
42.8
41.5
42.5
41.3
39.5

40.2

40.4

40.5

40.4

40.4

40.4

40.6

40.4

40.6

40.5

40.6

40.7

40.3

40.6

40.5

3.7

3.8

4.1

3.9

3.8

3.8

3.8

3.9

3.9

3.9

3.9

4.1

3.8

4.0

40.6
39.1
40.6
37 0
43.3
37.7
42.9
44.1
41.1
37.5

40.6
38.6
41.1
43.6
38.0
43.1
43.8
41.7
38.0

40.5
38.1
41.4
37 3
43.8
38.1
43.3
44.5
41.9
38.1

40.4
39.4
41.3
37.3
43.8
38.0
43.2
43.6
41.8
38.0

40.4
38.1
41.2
37 3
43.5
38.1
43.1
43.4
41.7
38.3

40.5
39.1
41.0
37.2
43.5
38.1
43.1
43.4
41.7
38.1

40.7
38.6
41.8
37.4
44.0
38.1
42.9
43.8
41.6
38.0

40.8
38.4
40.8
37 4
43.5
38.2
42.8
44.7
41.6
38.5

40.8
38.0
41.2
37 6
43.5
38.1
42.9
44.9
41.8
38.9

40.6
39.5
41.4
37 4
43.5
38.1
42.8
43.9
41.9
38.7

40.6
38.6
41.6
37.6
43.5
38.2
43.0
44.1
42.0
39.3

40.7
37.3
41.8
37.5
43.8
38.1
42.9
43.9
42.1
39.4

40.4
36.0
40.1
37.2
43.5
38.1
42.8
43.3
41.8
39.0

40.7
35.5
41.9
37.1
43.7
38.4
'42.9
44.9
41.8
38.9

40.6
'3.9
40.4
'37.0
41.7
37.4
'43.7
'38.2
'43.3
'44.4
'41.8
'38.6

40.6
37.9
41.3
37.2
43.6
38.4
43.1
44.6
41.7
37.9

38.7
38.1
28.6
35.7
32.4

38.9
38.2
28.8
35.8
32.5

38.7
38.3
28.8
35.6
32.5

38.6
38.1
28.7
35.6
32,4

38.9
38.1
28.5
35.6
32.4

39.3
38.4
28.8
36.3
32.7

38.9
38.0
28.9
35.5
32.1

39.0
38.1
28.8
35.6
32.5

39.5
38.3
28.9
36.2
32.6

39.1
38.0
28.8
35.6
32.3

39.6
38.1
28.8
35.7
32.5

39.4
38.1
28.7
35.7
32.4

39.6
38.0
28.2
35.5
32.4

39.4
38.0
28.8
35.7
32.4

'39.7
'38.4
'29.0
36.2
32.8

39.3
38.1
28.7
35.6
32.5

199.64
162.76
1 59
9.22
38.95
11.62
12.04
28 63
12.37
48.34
36.88

200.21
163.22
1.44
8.83
38.42
11.55
12.01
28 97
12.27
49.73
36.99

200.72
163.48
1.46
8.99
38.69
11.54
12.04
28.99
12.27
49.50
37.24

200.16
162.84
1.42
8.88
38.52
11.50
11.97
28.87
12.20
49.49
37.31

200.11
162.76
1.42
8.88
38.52
11.56
11.96
28.69
12.12
49.59
37.36

200.92
163.54
1.43
8.83
38.31
11.60
12.02
28.91
12.38
50.05
37.38

199.92
162.77
1.39
8.81
38.23
11.56
11.93
29.12
12.14
49.58
37.15

200.77
163.47
1.42
8.82
38.19
11.60
11.99
29.06
12.24
50.15
37.31

202.01
164.53
1.41
8.77
38.29
11.70
12.07
29.16
12.45
50.67
37.48

201.86
164.18
1.40
8.74
38.27
11.64
12.06
29.50
12.20
50.38
37.68

201.98
164.32
1.41
8.73
38.42
11.76
12.06
29.24
12.23
50.47
37.67

202.47
164.68
1.37
8.90
38.51
11.76
12.08
29.29
12.17
50.59
37.79

202.33
164.52
1.36
8.88
38.37
11.80
12.11
29.18
12.15
50.67
37.81

'202.78
'165.21
1.37
8.90
'38.33
11.75
12.07
29.42
12.19
'51.18
'37.57

'205.26
'167.16
1.39
'9.22
'38.18
'11.86
'12.22
'29.69
12.50
'52.08
'38.11

203.37
165.53
1.35
9.14
38.00
11.72
12.11
29.44
12.22
51.56
37.83

120.4
103.4
62.0
122.8
102.1
99.3
105.9
128.0
113.4
113.7
119.5
118.3
145.3

121.0
101.7
55.8
117.9
101.3
97.8
106.2
129.7
113.3
113.7
120.6
117.5
149.4

121.3
102.7
56.5
120.1
102.2
99.5
105.8
129.6
112.9
113.9
120.8
117.4
149.0

120.8
102.0
55.6
118.5
101.6
98.7
105.5
129.3
112.7
113.3
120.3
117.0
148.9

120.8
102.0
55.3
118.5
101.7
98.7
105.7
129.3
113.4
113.2
119.6
115.6
149.5

121.8
101.6
55.6
118.2
101.2
98.3
105.0
130.8
114.4
114.2
120.8
118.9
151.2

120.8
101.1
54.7
117.6
100.8
97.6
105.2
129.6
113.5
113.1
121.4
116.5
148.9

121.6
101.2
55.1
118.0
100.8
97.9
104.8
130.7
113.7
113.7
121.1
117.6
151.4

122.3
101.4
54.8
117.2
101.2
98.4
105.0
131.6
115.2
114.6
121.6
119.5
152.1

121.7
101.4
54.1
116.9
101.2
98.5
'05.0
130.8
114.3
113.7
121.5
116.7
151.3

122.5
101.7
54.2
116.4
101.8
99.2
105.5
131.8
116.1
114.5
122.0
117.9
152.5

122.7
102.5
52.7
119.2
102.3
99.7
105.8
131.8
115.7
114.8
122.3
117.2
152.5

122.2
101.9
52.5
118.8
101.6
99.3
104.8
131.3
116.1
114.7
119.9
116.9
152.9

'123.1
'102.2
'53.5
119.3
101.8
99.2
'105.4
132.4
115.5
114.7
122.6
117.2
'154.0

'124.6
'102.8
'54.2
'124.4
'101.4
'98.6
'105.3
'134.4
'116.4
'116.1
'123.9
120.0
'156.7

123.4
102.0
52.7
123.0
100.8
97.9
104.9
133.0
115.1
114.9
122.6
117.8
155.4

372

3.9

AGGREGATE EMPLOYEE-HOURS §
[Billions of hours]
Seasonally adjusted:
Employee-hours, wage and salary workers in
nonagric. establishments, for 1 week in the
month, seas adj. at annual rate
Total private sector
Mining
Construction
Manufacturing
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
Government
[1982=100]
Indexes of employee-hours (aggregate weekly): 0
Private nonfarm payrolls, total
Goods-producing
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
Service-producing
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
See footnotes at end of tables.




S-12 • July 1993

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1963-91

1992

Annual
1991

1992

May

June

July

Aug.

1993
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

5. LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued
HOURLY AND WEEKLY EARNINGS §

Average hourly earnings per worker, not seas,
adj.: 0
Private nonfarm 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
Industrial machinery and equipment
Electronic and other electrical equipment .
Transportation equipment
Instruments and related products
Miscellaneous manufacturing

10.32
14.19
14.00
11.18
10.71
11.75
11.27
9.24
8.76
11.36
13.33
11.19
12.15
10.70
14.75
11.64
8.85

10.58
14.54
14.15
11.46
10.95
12.02
11.51
9.44
9.01
11.60
13.66
11.43
12.41
10.99
15.22
11.90
9.15

10.53
14.48
14.10
11.45
10.95
12.02
11.49
9.41
8.97
11.61
13.64
11.44
12.36
10.98
15.23
11.82
9.11

10.52
14.53
14.13
11.46
10.94
12.05
11.50
9.42
9.01
11.62
13.67
11.45
12.42
11.05
15.25
11.86
9.13

10.51
14.50
14.10
11.47
10.96
12.03
11.52
9.47
9.02
11.64
13.76
11.40
12.47
11.04
15.18
11.89
9.13

10.55
14.47
14.24
11.45
10.92
12.04
11.50
9.50
9.05
11.64
13.73
11.42
12.43
11.02
15.27
11.90
9.09

10.65
14.60
14.22
11.54
11.01
12.09
11.58
9.50
9.10
11.79
13.92
11.44
12.46
11.03
15.33
11.99
9.15

10.68
14.47
14.30
11.50
10.96
12.07
11.52
9.54
9.11
11.69
13.72
11.43
12.49
11.03
15.34
12.00
9.20

10.72
14.61
14.24
11.55
11.01
12.12
11.56
9.50
9.09
11.67
13.75
11.48
12.55
11.05
15.43
12.06
9.24

10.70
14.58
14.27
11.64
11.09
12.22
11,63
9.51
9.19
11.64
13.81
11.60
12.63
11.13
15.57
12.12
9.32

10.77
14.72
14.20
11.62
11.11
12.19
11.66
9.46
9.16
11.63
13.75
11.55
12.59
11.13
15.50
12.09
9.34

10.77
14.60
14.11
11.62
11.11
12.20
11.66
9.51
9.12
11.67
13.82
11.56
12.61
11.10
15.54
12.11
9.32

10.79
14.71
14.27
11.64
11.14
12.21
11.67
9.50
9.11
11.70
13.82
11.56
12.59
11.11
15.63
12.15
9.28

10.79
'14.88
'14.25
11.71
11.19
'12.27
11.72
9.51
9.14
'11.80
13.96
'11.62
'12.65
'11.14
'15.69
'12.21
9.34

'10.80
'14.72
'14.10
'11.72
11.18
'12.30
11.72
'9.57
9.17
'11.82
'13.95
'11.69
'12.64
'11.15
'15.79
12.21
'9.32

10.75
14.57
14.04
11.73
11.17
12.30
11.71
9.59
9.21
11.83
13.98
11.73
12.68
11.22
15.75
12.12
9.35

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 misc. plastics products
Leather and leather products
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services

10.44
9.99
9.90
16.77
8.30
6.77
12.72
11.48
14.04
17.04
10.07
7.18
13.22
11.15
6.94
10.39
10.23

10.74
10.25
10.19
16.99
8.60
6.95
13.07
11.74
14.51
17.91
10.37
7.42
13.46
11.39
7.13
10.82
10.55

10.72
10.24
10.24
17.77
8.57
6.96
13.03
11.65
14.45
17.81
10.33
7.44
13.36
11.34
7.09
10.75
10.48

10.71
10.22
10.21
18.36
8.59
6.97
13.01
11.67
14.44
17.66
10.36
7.44
13.37
11.32
7.09
10.69
10.43

10.75
10.26
10.18
18.60
8.60
6.94
13.11
11.76
14.55
17.74
10.39
7.31
13.42
11.36
7.09
10.72
10.42

10.72
10.20
10.13
16.56
8.61
6.97
13.05
11.79
14.53
17.76
10.38
7.39
13.49
11.42
7.09
10.83
10.46

10.85
10.31
10.22
16.39
8.67
7.00
13.33
11.92
14 70
17.98
10.45
7.38
13.59
11.44
7.21
10.84
10.62

10.76
10.24
10.12
16.09
8.65
6.98
13.15
11.86
14.63
18.10
10.44
7.39
13.57
11.44
7.19
10.90
10.65

10.83
10.31
10.30
17.62
8.70
6.98
13.19
11.84
14.70
18.25
10.45
7.45
13.64
11.52
7.21
11.05
10.73

10.90
10.38
10.36
16.35
8.76
7.04
13.27
11.88
14.78
18.11
10.54
7.50
13.58
11.52
7.20
11.03
10.76

10.88
10.40
10.31
15.90
8.80
7.05
13.17
11.84
14.76
18.40
10.55
7.49
13.58
11.59
7.27
11.13
10.83

10.87
10.40
10.29
16.48
8.81
7.05
13.18
11.83
14.77
18.42
10.54
7.49
13.60
11.61
7.26
11.19
10.83

10.90
10.44
10.32
17.14
8.75
7.05
13.22
11.87
14.73
18.67
10.49
7.50
13.63
11.59
7.28
11.17
10.81

'10,99
10.51
10.45
'17.67
'8,88
'7.07
'1340
' 11.87
'14.81
'18,59
10.62
'7.59
'13.61
11.70
7,27
11.21
'10.77

'10.96
10.48
'10.46
'18.07
'8.87
7.06
'13.37
' 11.82
'14.77
'18.54
'10.59
'7.60
'13.58
11.73
'7.27
'11.33
'10.78

10.98
10.48
10.45
17.97
8.87
7.07
13.44
11.88
14.80
18.48
10.61
7.60
13.56
11.65
7.26
11.18
10.68

Average houriy earnings per worker, seas, adj.: 0
Private nonfarm payrolls
Mining
Construction
Manufacturing
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services

10.32
14.19
14.00
11.18
13.22
11.15
6.94
10.39
10.23

10.58
14.54
14.15
11.46
13.46
11.39
7.13
10.82
10.55

10.54
14.52
14.13
11.44
13.42
11.35
7.10
10.75
10.50

10.56
14.53
14.22
11.45
13.44
11.36
7.11
10.75
10.53

10.57
14.53
14.15
11.46
13.43
11.38
7.13
10.77
10.54

10.63
14.57
14.21
11.50
13.50
11.49
7.15
10.95
'0.61

10.62
14.57
14.11
11.51
13.53
11.42
7.18
10.85
10.61

10.65
14.61
14.19
11.52
13.56
11.48
7.18
10.93
10.65

10.69
14.65
14.23
11.55
13.62
11.52
7.19
11.06
10.69

10.68
14.57
14.21
11.58
13.55
11.46
7.21
10.99
10.67

10.73
14.58
14.19
11.61
13.57
11.57
7.23
11.09
10.75

10.74
14.55
14.22
11.64
13.58
11.57
7.25
11.09
10.75

10.78
14.64
14.28
11.66
13.64
11.59
11.11
10.76

10.77
'14.84
'14.28
11.71
'13.61
11.67
7.25
11.15
'10.73

'10.81
'14.76
'14.13
'11.71
'13.63
11.74
'7.28
'11.33
'10.80

10.80
14.57
14.12
11.72
13.63
11.69
7.28
11.24
10.78

18.88
24.76
15.68

19.46
25.47
16.66

19.32
25.27
16.91

19.32
25.30
16.67

19.45
25.49
16.34

19.67
25.68
16.41

19.73
25.75
16.62

19.73
25.76
16.73

19.75
25.81
16.87

19.75
25.83
16.68

19.75
25.83
16.96

19.75
25.83
17.23

19.81
25.89
16.73

19.81
25.89
'16.90

19.81
25.89
16.94

19,82
25.88

353.98
255.40

363.95
255.22

363.63
255.90

362.21
254.36

362.55
253.89

367.80
257.02

363.20
253.45

366.36
254.59

369.87
256.50

366.32
253.68

370.19
255.30

369.46
253.92

368.68
252.87

370.49
253.24

'375.11
'256.05

371.52
253.60

353.98
630.04
533.40
455.03
482.93
419.69
511.61
424.82
198.48
370.92
331.45

363.95
638.31
537.70
469.86
498.83
433.90
523.59
435.10
205.34
387.36
342.88

362.23
634.22
548.49
470.60
501.23
433.09
517.03
434.32
203.48
382.70
339.55

362.94
636.41
551.07
473.30
503.69
433.76
520.09
432.42
205.61
380.56
338.98

363.65
624.95
548.49
466.83
495.64
431.08
527.41
433.95
207.74
381.63
340.73

368.20
643.92
55678
470.60
499.66
435.23
534.20
439.67
209.86
393.13
345.18

365.30
640.94
527.56
473.14
496.90
442.68
531.37
435.86
209.09
384.82
341.96

367.39
642.47
557.70
474.95
504.53
437.93
530.59
437.01
206.35
388.04
345.06

369.84
651.61
534.00
480.48
510.25
442.95
538.78
441.22
206.93
400.01
349.80

369.15
647.35
530.84
487.72
520.57
447.99
532.34
440.06
210.24
392.67
347.55

366.18
649.15
512.62
477.58
508.32
439.55
529.62
438.10
203.56
397.34
348.73

367.26
635.10
517.84
477.58
508.74
438.06
531.76
440.02
204.73
399.48
349.81

366.86
631.06
533.70
476.08
509.16
434.91
534.30
438.10
202.38
396.54
349.16

369.02
'650.26
'538.65
'478.94
'510.43
'440.70
'533.51
444.60
207.20
400.20
'347.87

'374.76
'652.10
'552.72
'484.04
'517.83
'442.78
'539.13
'450.43
'210.10
'410.15
'352.51

371.95
645.45
551.77
485.62
517.83
445.79
536.98
445.03
210.54
398.01
348.17

•

111

[Dollars per hour]
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (ENR): §§
Common labor
Skilled labor
Railroad wages (average, class I)
[Dollars]
Avg. weekly earnings per worker, private nonfarm: 0
Current dollars, seasonally adjusted
1982 dollars, seasonally adjusted $
Current dollars, not seasonally adjusted:
Private nonfarm, total
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
EMPLOYMENT COST INDEX
[June 1989=100]
Total compensation:
Civilian workers t
Workers, by occupational group:
White-collar workers
Blue-collar workers
Service workers
Workers, by industry division:
Manufacturing
Nonmanufactunng
Services ....
Public administration
Wages and salaries
Civilian workers i
Workers, by occupational group:
White-collar workers
Blue-collar workers
Service workers
Workers, by industry division:
Manufacturing
Nonmanufacturing
Services
Public administration

114.2

115.4

116.1

117.5

118.3

114.6
113.5
114.7

115.8
114.4
116.2

1166
115.2
116.7

1179
116,7
117.9

118.6
117.8
118.7

114.7
114.1
116.3
114.6

115.7
115.3
118.2
115.8

116.5
116.0
119.2
116.3

1186
1171
120.1
117.6

119.7
117.9
120.6
118.0

112.1

113.0

113.6

1145

115.2

112.8
110.6
112.4

113.7
111.3
1134

114.5
111.9
1138

115.4
112.7
114.5

116.0
113.4
115.2

112.2
112.0
114.3
112.4

112.9
1130
115.9
113.1

113.7
1136
116.7
113.6

114.7
1144
117.4
114.4

115.5
115.1
117.8
114.9

HELP-WANTED ADVERTISING
Seasonally adjusted index, 1967=100
See footnotes at end of tables.




93

92

'94

'93

91

93

90

92

95

95

92

97

96

96

100

97

July 1993 •

SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1953-91

Annual
1991

1992
1992

May

June

July

Aug.

S-13

1993
Sept.

Nov.

Oct.

Jan.

Dec.

Mar.

Feb.

May

Apr.

June

5. 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, thousands
Days idle during month or year, thousands

6

1

3

3,989

10
322

243
741

4
157

57
214

16
578

14
281

0
99

22,975
3,281

40

35

392

364

4,584

6

8

5

0

2

1

4

2

5

0
48

22
56

5
139

12
113

13
112

35
393

3
381

1,355
2,662
2.6
1,792
10,227
181.83

0

UNEMPLOYMENT INSURANCE ±
State programs:
Initial claims, thousands
Average weekly insured unemployment, thousands
Rate of insured unemployment, percent @
Total benefits paid, mil. $
Weeks of unemployment compensated, thousands
Average weekly benefit, dollars

20,986
3,167

1,395
3,062

1,630
3,004

2,015
2,978

1,420
2,955

1,405
2,658

1,428
2,384

1,518
2,518

2,020
2,906

2,048
3,234

1,408
3,187

1,505
3,238

1,358
2,790

'1,146
' 2,461

3.1

3.0

2.9

2.9

2.9

2.8

2.6

2.3

2.4

2.8

3.1

3.1

3.1

2.7

2.4

25,279
153,063
171.18

24,967
147,938
175.16

1,932
11,460
175.04

1,969
11,706
174.53

2,033
12,160
172.94

1,883
11,055
175.60

1,761
10,375
175.86

1,585
9,304
176.67

1,584
9,278
177.17

2,019
11,865
176.88

2,060
12,011
178.69

2,010
11,519
180.89

2,344
13,350
182.16

1,942
11,091
182.07

Federal civilian employees unemployment insurance
(UCFE):
Initial claims, thousands
Average weekly insured unemployment, thousands
Total benefits paid, mil. $
Weeks of unemployment compensated, thousands
Average weekly benefit, dollars

135.8
29.9
211.3
1,356.7
155.73

146.2
31.7
243.1
1,484.2
163.74

9.6

13.7
27.2
17.7
107.7
164.20

17.7
31.3
20.3
124.8
162.29

10.3
33.6
20.9
130.2
160.48

12.0
32.1
20.9
128.9
161.95

15.3
31.6
20.0
123.4
162.30

11.7
33.4
20.5
123.2
166.56

12.4
35.6
24.8
147.8
167.52

13.0
33.9
21.7
127.5
170.58

9.5

9.2

25.3
15.8
96.2
164.18

33.5
21.4
121.1
176.91

32.9
24.9
136.4
182.77

10.2
28.2
20.1
111.1
181.00

'26.2
'17.7
-96.3
"183.53

Veterans unemployment insurance (UCX):
Initial claims, thousands
Average weekly insured unemployment, thousands
Total benefits paid, mil. $
Weeks of unemployment compensated, thousands
Average weekly benefit, dollars

152.8
22.2
165.8
918.0
179.59

260.5
60.1
541.9
2,853.3
189.50

17.5
53.4
38.0
204.8
185.70

21.7
55.9
41.3
220.3
187.42

25.0
56.6
43.9
231.2.
189.79

24.4
61.2
44.3
231.6
191.29

26.1
65.4
49.7
255.6
194.52

25.2
65.3
51.4
263.5
195.04

18.3
67.5
51.4
261.5
196.56

20.7
70.1
58.8
301.7
194.72

21.9
68.2
52.4
267.1
196.23

17.2
68.5
50.5
255.0
197.85

19.1
65.9
54.6
277.0
197.22

17.0
56.9
45.0
230.5
195.08

'14.8
-51.8
'38.5
' 196.9
' 195.56

37 814
550,643
414 001
236,351
177,650
136,642

37 599
551,480
405 835
223,177
182,658
145,645

37 651
556,558
407 499
227,502
179,997
149,059

38194
545,136
408,199
236,250
171,949
136,937

35 995
35 212
34 929
535,218
534,935
543,725
' 398 643 '388 139 '392 417
'215,022 '208,108 '220,458
183,621
180,031
171,959
r
145,082 '147,079 '142,518

"544,923
'386 000
'211,492
174,508
'158,923

"542,888
385,205
210,911
174,294
157,683

52 407
28,664
11,108
12,635

52 344
28 536
10,415
13 393

r

1,614
'"9,197
182.48

9.1

12.0
29.9
20.7
114.0
181.54

16.8
54.0
41.3
210.6

196.16

6. FINANCE
BANKING
[Millions of dollars]
Open market paper outstanding, end of period:
Bankers' acceptances
Commercial and financial company paper, total
Financial companies
Dealer placed
Directly placed
Nonfinancial companies
Loans of the Farm Credit System:
Total, end of period
Long-term real estate loans
Short-term and intermediate-term loans
Loans to cooDeratives
Federal Reserve banks, condition, end of period:
Assets total #
Reserve bank credit outstanding, total #
Loans
U.S. Government securities
Gold certificate account
Liabilities total #
Deposits, total
Member-bank reserve balances
Federal Reserve notes in circulation
Al! member banks of Federal Reserve System,
averages of daily figures:
Reserves held total
Required
Excess
Borrowings from Federal Reserve banks
Free reserves

43 770
528,124
403 556
221,093
182,463
124,568

38194
545,136
408199
236,250
171,949
136,937

51,457
28J67
11 ^223
11,467

52,407
28^664
11,108
12,635

38 384
537,791
395,120
223.948
171,172
142,671

37 767
545,940
406,624
235,243
171,381
139.316

37 733
544,077
404 024
227,307
176,717
140,053

37 090
541,260
402 192
229,550
172,642
139,068

52,242
28 775
11,398
12 069

52,366
28815
11,505
12,047

353,061

367,901

332,729

344,466

347,656

343,638

364,084

346,817

355,187

367,901

357,552

362,126

368,587

368,742

371,520

394,328

289,394

312,234

277,354

282,069

288,180

303,724

288,917

301,688

312,234

302,531

307,615

312,037

311,133

315,024

256

244

609

80

35

675

35

57

753

84

129

275,969
11,060

282,153
11,059

296,397
11,059

282,877
11,060

295,952
11,059

302,474
11,056

296,977
11,055

301,490
11,055

305,217
11,055

305,381
11,055

309,841
11,053

335,869
1,534
328,199
11,057

218

675

150

281,831
11,059

302,474
11,056

271,052
11,057

283,729
1,359
276,883
11,060

353,061

367,901

332,729

344,466

347,656

343,638

364,084

346,817

355,187

367,901

357,552

362,126

368,587

368,742

371,520

394,328

49,783
29,413
287,906

40,148
32,079
314,208

29,527
23,503
289,684

36,839
22,740
290,772

40,270
25,302
294,107

36,206
29,422
295,876

53,094
27,665
297,609

34,484
29,339
300,010

37,841
30,349
306,863

40,148
32,079
314,208

37,632
27,533
306,111

39,034
33,085
309,080

41,917
34,533
312,263

38,365
30,579
315,270

37,279
31,000
320,112

56,693
27,724
323,253

55 532
54,553

56 540
55,385
1,155

48 825
47,825
1,000

49,496
48,584

49 823
48,857

50,162
49,227

51521
50,527

56,004
54,744
1,260

53 882
52,778
1,104

54,296
53,083
1,213

56 541
55,445
1,096

'56,101
'55,104
'996

155
845

994
287
707

56,540
55,385
1,155

124

935
251
684

54 666
53,624
1,043

143
931

104
939

124

165

45

91

73

121

1,032

965
284
681

53136
52,062
1,074

57,238
56,325

913
229
684

1,032

1,096

1,059

1,122

1,023

'875

913
181
732

979
192
788

Large commercial banks reporting to Federal Reserve
System, last Wed. of mo.:
ueposus.
Demand, total #
Individuals, partnerships, and corporations
States and political subdivisions
U S Government
Depository institutions in US

255,000
204,158
8,845
2158
23,508

301,829
243,168
9,974
3 434
25,795

247,411
194,793
8,031
1 411
24,959

235,901
187,252
8,985
2,162
21,221

240,649
194,223
7,747
1,790
20,731

240,184
193,149
7,784
1,749
20,546

265.732
215,316
8,484
2 359
21,839

255,487
206,700
8,245
1471
22,557

276,041
222,024
9,866
2,665
25,750

301,829
243,168
9,974
3,434
25,795

253,220
203,509
9,487
2,077
22,108

253,165
204,865
8,917
2,388
21,429

268,799
221,791
8,899
2,345
20,470

272,060
220,655
9,217
2 736
23,057

269,154
218,244
8,924
2,162
22,006

290,922
240,744
9,023
2,461
21,471

Transaction balances other than demand
deposits
Nontransaction balances, total
Individuals, partnerships, and corporations

101,757
788,004
758,036

120,816
728,182
703,912

101,775
767,467
735,992

100,711
758,296
729,710

102,188
754,062
726,714

103,318
749,281
721,372

106,316
739,351
713,747

110,515
736,595
710,088

113,744
734,304
707,478

120,816
728,182
703,912

114,177
724,254
699,468

114,443
723,700
697,876

119,190
714,834
692,331

114,974
714,458
689,962

116,411
716,874
690,535

118,539
705,178
684,514

1,027,027
294,246
14,817
23,123
402,887
17,876
274,078

1,007,149
279,851
15,636
21,630
404,188
14,823
271,021

999,071
283,940
14,034
21,372
400.688
16,972
262.065

996,078
280.193
14,198
20,671
399,491
16.380
265,145

984,175
276,467
14,620
20,185
397,707
15,719
259,477

983,304
274,996
15,736
20,116
395,266
15,606
261,584

936,072
278.594
15,932
21,665
396,927
15,631
207,323

989,342
276,773
16,261
21,519
398.901
15,239
260,649

995,217 1,007,149
280,808
279,851
16,323
15,636
22,234
21,630
399,784
404,188
15,000
14,823
261,068
271,021

990,412
276,984
14,479
19,899
398,451
14,402
266,197

988,383
276,776
17,157
18,141
394,593
14,260
267,456

986,435
277,472
15,633
19,112
395,060
14,035
265,123

989,290
275,683
15,632
19,619
395,675
13,794
268,887

993,984 1,007,754
275.882
276.629
16.556
19,250
20,361
20,791
396.338
401,276
14,053
13,695
270,794
276,113

282,554

324.790

292.835

298,786

302,190

315,333

378,429

321,659

327,916

324,790

324,481

331,550

340.413

344,398

340,363

343,437

225.344
206,837
57,210

269.839
251,345
54.951

239,486
218.174
53.349

245,996
226.889
52.790

248,189
229,185
54,001

259,952
240,364
55,381

267,891
246,763
55,005

266,417
244.183
55.242

273,053
247,955
54,863

269,839
251.345
54.951

268,574
247,999
55,907

275,642
255.136
55,908

283,361
264,341
57.052

288,366
264,465
56.032

284,785
266.728
55.578

287,113
270,092
56.324

Loans and leases(adjusted),total §
Commercial and industrial
,
For purchasing and carrying securities
To nonbank depository and other financial
Real estate loans .,
To States and political subdivisions
Other loans
Investments, total
U.S. Treasury and government agency
securities, total
Investment account
Other securities
See footnotes at end of tables.




S-14 • July 1993

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
Shown in BUSINESS STATISTICS, 1963-91

Annual

1993

1991

1992

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

6. FINANCE-Continued
BANKING-Continued
[Billions of dollars]
Commercial bank credit, seas, adj.: §
Total loans and securities 0
U S Government securities
Other securities
Total loans and leases 0

r

2,838.7
562.6
1794
2,096.6

2,943.2
659.6
176.4
'2,100.2

2,875.3
600.2
176.9
2,098.2

2,882.8
610.7
175.8
2,096.2

2,886.9
619.2
177.9
2,089.8

2,902.2
632.6
178.2
2,091.4

2,917.4
640.6
178.2
2,098.6

2,926.0
647.3
178.8
2,099.8

2,932.4
651.4
177.3
2,103.8

2,937.6
657.1
176.0
'2,104.6

'2,933.4
656.9
174.0
'2,102.5

'2,937.7
667.3
'175.3
'2,095.1

2,950.8
'681.6
177.0
'2,092.3

'2,960.8
'691 5
'1777
'2,091.5

2,982.9
694.3
178.4
2,110.3

3,005.9
704.1
177.7
2,124.0

Prime rate charged by banks on short-term
business loans

8.46

6.25

6.50

6.50

6.02

6.00

6.00

6.00

6.00

600

6.00

6.00

6.00

6.00

6.00

6.00

Discount rate (New York Federal Reserve
Bank) @

5.45

3.25

3.50

3.50

3.02

3.00

3.00

3.00

3.00

3.00

3.00

3.00

3.00

3.00

3.00

3.00

9.01
9.04

7.98
7.84

8.30
8.20

8.15
8.04

7.81
7.78

7.72
7.58

7.68
7.44

7.65
7.40

7.81
7.49

7.65
7.53

7.57
7.49

7.52
7.28

7.22
7.17

7.26
7.06

7.14
7.08

Open market rates, New York City:
Bankers' acceptances, 3-month
Commercial paper 6-month $
Finance co. paper placed directly, 6-mo

5.70
5.85
5.60

3.62
3.80
3.63

3.76
3 97
3.77

3.80
3.99
3.80

3.32
3 53
3.35

3.28
3.44
3.29

3.10
3.11

3.19
3 33
3.23

3.51
3 67
3.56

3.44
3 70
3.52

3.14
3 35
3.29

3.06
3 27
3.21

3.07
3 24
3.14

3.05
3.19
3.07

3.06
3.20
3.07

3.16
3 38
3.16

Yield on U.S. Gov. securities (taxable):
3-month bills (rate on new issue)

5.420

3.450

3.660

3.700

3.280

3.140

2.970

2.840

3.140

3.250

3.060

2.950

2.970

2.890

2.960

3.100

749,052

756,944

725,317

727,478

726,917

731,954

734,884

734,766

737,651

756,944

749,153

746,914

744,713

'748,955

748,375

340 713
121 937
92,681
39,832
45,965
4,362
103,562

331,869
117,127
97,641
42,079
43,461
4,365
120,402

327,072
116168
91,605
35,731
42,202
4,193
108,347

326 502
116 661
91,995
35,415
41,768
4,360
110,776

326,849
117,024
92,248
34,646
41,813
4,506
109,831

327,170
117,230
93,360
35,943
41,932
4,542
111,777

327,437
116,669
94,644
35,925
41,317
4,499
114,393

326,472
116,359
95,517
36,441
42,031
4,452
113,494

325,149
116,558
96,092
36,678
42,746
4,365
116,063

331,869
117,127
97,641
42,079
43,461
4,365
120,402

330,355
116,009
98,261
40,057
43,428
4,366
116,677

330,060
112,686
98,785
38,462
43,516
4,148
119,257

329,764
111,854
99,778
38,030
43,255
4,080
117,952

'331,649
'112,523
101,534
38,218
'43,451
4,280
117,300

333,314
109,251
102,967
38,681
43,785
4,486
115,891

261 219
256,876

259,964
267,949

258 700
244,236

257 973
246,596

258 457
246,332

260,564
248,386

262,042
249,421

260,201
249,983

259,148
252,877

259,964
267,949

257,744
261,217

259,344
258,430

259,089
257,544

'260,224
'259,015

262,407
260,506

228,080

' 3 229,716

[Percent]
Money and interest rates:

Federal intermediate credit bank loans
Home mortgage rates (conventional 1st
mortgages):
New home purchase (U.S. avg.)
Existing home purchase (U.S. avg.)

326

CONSUMER INSTALLMENT CREDIT t
[Millions of dollars]
Not seasonally adjusted:
Total outstanding (end of period) #
By major holder:
Commercial banks
Finance companies
Credit unions
Retailers
Savings institutions
Gasoline companies
Pools of securitized assets
By major credit type:
Automobile
Revolving
Mobile home
Other

3

()
229,031

230,957

Seasonally adjusted:
Total outstanding (end of period) #
By major credit type:
Automobile
Revolving
Mobile home
Other

3

222,381

3

222,909

3

222,128

3

223,005

3

223,422

3

224,581

3

225,626

3

229,031

3

230,192

3

229,141

3

3

225,462

730,612

730,866

730,496

731,023

733,023

734,195

736,023

741,093

744,196

748,765

751,727

'754,719

753,917

259,844
247,205

257,989
248,795

258,259
248,980

258,827
249,384

259,433
250,456

258,208
251,806

258,860
252,086

259,627
254,299

258,463
256,435

260,945
259,378

261,449
260,990

263,552
263,642

229,288

-1,124

254

-370

527

2,000

1,172

1,828

5,070

3,103

4,569

2,962

'2,992

-802

-902

3

Total net change (during period) #
By major credit type:
Automobile
Revolving
Mobile home
Other

'261,826
'262,700
(3)
3
' 230,193

-1,855
1,590

270
185

568
404

606

652
280

767

-1,164
2,136

2,482
2,943

504

'377
'1,710

1,726

1,072

-1,225
1,350

-445

'^323

223,562

218
3

-440

3

224,081

3

519

3

223,257

3

-824

3

222,812

3

3

223,135

3

224,181

3

3

225,077

1,046

^896

3

227,167

2,213
3

2,090

3

229,299

3

2,132

3

228,443

3

-856

3

1,612
3

845

'3905

3

226,723

942
3

-3,470

FEDERAL GOVERNMENT FINANCE
[Millions of dollars]
Federal receipts and outlays:
Receipts (net)
Outlays (net)
Total surplus or deficit (-)

1

1

Federal financing, total
Borrowing from the public
Other
Gross amount of debt outstanding
Held by the public

1,090,513
1,380,657
-290,144

1 054 265
'1,323,757
1
-269,492
1

1
1

269,492
293,239
1
25,303

3 489,997
2,628,699

62,189
108,963
-46,774

120,883
117,098
3,785

79,056
122,204
-43,148

78,106
102,810
-24,704

118,190
112,729
5,462

76,832
125,627
-48,795

74,633
107,361
-32,728

113,690
152,637
-38,945

112,718
82,903
29,815

66,138
113,732
-47,594

83,453
128,030
•^4,577

132,122
124,034
8,088

70,758
107,716
-36,957

128,591
117,495
11,096

290,144
311,082
1
20,730

46,774
33,840
-13.095

-3,785
22,318
26,101

43,148
28,290
-16,307

24,704
38,841
14,139

-5,461
9,853
15,253

48,795
-1,552
-50,417

32,728
61,969
29,239

38,946
21,078
-17,867

-29,815
-8,355
21,457

47,594
30,689
-16,905

44,577
37,727
-6,850

-8,088
5,464
13,552

36,957
30,832
-6,125

-11,096
24,757
35,853

1

"4,002,815 3,865,111 3,918,787 3,942,569 3,983,735 4,002,815 4,006,113 4,071,464 4,115,794
2,998,776 2,900,925 2,923,243 2,950,083 2,988,923 2,998,776 2,997,224 3,059,193 3,080,271

1

4,106,390 4,136,520 4,170,654
3,071,916 3,102,385 3,140,112

4,188,979 4,232,389 4,288,539
3,145,575 3,176,408 3,201,165

Federal receipts by source and outlays by
agency:
Receipts (net) total
Individual income taxes (net)
Corporation income taxes (net)
Social insurance taxes and contributions
(net)
Other
Outlays (net) total
Agriculture Department
Defense Department military
Health and Human Services Department ....
Treasury Department
National Aeronautics and Space
Administration
Veterans Affairs Department

1

1,054,265
1
467,649
1
98,086

1,090,513
1
473,594
1
102,240

62,189
12,012
2,691

120,883
53,072
20,784

79,056
35,098
2,732

78,106
34,715
1,579

118,190
55,496
19,896

76,832
37,288
2,096

74,633
33,099
1,478

113,690
51,172
22,950

112,718
73,704
3,212

66,138
23,947

792

83,453
27,935
12,724

132,122
56,137
17,795

70,758
17,919
2,376

128,591
56,463
24,949

'396 010
1
97,581

'413,670
'101,650

40,362
7,179

38,380
8,672

31,722
9,522

33,139
8,782

33,322
9,629

29,594
7,854

32,900
7,157

31,918
7,718

29,416
5,505

34,251
7,206

33,652
9,140

49,176
9,014

42,277
8,187

38,405
8,775

1 323 757
1
54,120
' 299 196
1
483,936
1
276,887

1 380,657
1
56,585
1
286,631
1
539,761
1
292,990

108,963
5,007
23,379
44,316
22,801

117,098
3,912
24,868
49,575
49,230

122,204
3,595
29,180
48,176
17,536

102,810
3,266
20,538
43,333
18,403

112,729
3,922
24,902
46,703
16,536

125,627
7,051
26,233
48,427
18,116

107,361
5,624
19,949
43,055
21,605

152,637
6,645
28,946
73,835
52,215

82,903
4,516
18,941
20,629
18,636

113,732
4,389
22,003
47,245
20,965

128,030
8,163
24,391
49,520
20,235

124,034
6,172
26,036
51,313
19,358

107,716
5,077
19,703
45,661
23.932

117,495
4,429
23,695
53,422
51,653

13,962
33,734

1,133
2.686

1,151
2,514

1,179
4,010

1,076
1,361

1,149
3,201

1,098
4,061

1,317
1,717

1,266
4,125

1,092
1,617

1,008
2,626

1,344
4,067

1,249
4,307

1,080

782

1,154
2,860

11 057
362.04

11 056
344.50

11,057
337.24

11.059
340.81

11,059
353.05

11 059
342.96

11,059
345.55

11,060
344.38

11,059
335.08

11,056
334.66

11,055
329.01

11,055
329.39

11,054
329.01

11,054
341.91

366.72

371.89

4.040

3.938

4.070

4.060

3.950

3.800

3.760

3.740

3.760

3.720

3.680

3.650

3.690

3.960

4.470

4.380

1

1

13,878
'31,214

1
1

GOLD AND SILVER:
Gold:
Monetary stock, U.S. (end of period), mil. $
Price at New York, dol. per troy oz. -ft
Silver:

Price at New York. dol. per troyoz.ii
See footnotes at end of tables.




July 1993 •

SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1963-91

1992

Annual

May

1992

1991

July

June

Aug.

S-15

1993
Sept.

Nov. I

Oct.

Dec.

Jan.

Mar.

Feb.

Apr. |

May

June

6. FINANCE-Continued
MONETARY STATISTICS
[Billions of dollars]
Currency in circulation (end of period)
Money stock measures and components (averages of
daily figures):
Measures (not seasonally adjusted):
M1

M2
M3
L (M3 plus other liquid assets)
Components (not seasonally adjusted):
Currency
Demand deposits
Other checkable deposits ±±
Overnight RP's and Eurodollars 0
General purpose and broker/dealer money
market funds
Money market deposit accounts
Savings deposits
Small time deposits (g>
Large time deposits @

334.7

307.7

860.0
3,406.9
4*1587
4,982.6
259.5
280.2
312.8
69.8

317.9

310.9

334.7

332.8

966.5
3,474.C
4177 4
'5,019.3

943.9
3,452.5
4J67.1
4,988.0

951.9
3,457.2
4,165.0
5,001.9

962.5
3,461.C
4! 163.6
4,996.3

970.4
3,466.8
4178 5
5,015.9

982.8
3,467.8
4,171.5
5,026.7

1,000.9
3,485.7
4170 0
- 5^029.7

1,021.5
3,500.6
4*183 {
- 5,063.7

1,045.8
- 3,511.1
- 4178 5
"5.068.1

1,040.2
3,492.7
4143 6
-5,034.8

-1,022.2
-3,469.'
-4132*
"5,013.3

1,030.8
-3,479.7
-4*141 0
-5,024.2

1,058.4
3,498.1
'4*161."
-5^045.2

1,057.9
r
3,490.'
-4*1581
5^043.9

1,073.1
3,507.7
4] 162.3

279.6
319.3
359.8
74.3

275.7
308.3
352.5
69.5

277.2
311.4
355.5
72.5

280.8
317 7
355.9
72.8

282.9
3198
359.2
76.2

284.6
326.1
363.6
73.8

287.0
336 7
368.8
75.0

290.0
3439
379.7
75.1

295.0
3553
387.7
73.8

293.6
3462
392.7
72.3

295.3
334.3
384.9
72.9

297.9
-336.'
-388.8
73.2

-301.4
350.7
-398.6
-71.0

304.4
352.1
393.5
-68.0

307.5
359.6
397.9
70.5

-337.9

-334.8

(')

(')

r

365.0

355.1

979.6
1,132.4
462.7

1,130.3
950.9
387.3

352.9
1

345.8

M 146 7
927.2
379.7

952.6
3,462.1
4,170.1
5,014.8

963.3
3,463.6
4,169.0
5,012.5

276 6
312.3
355.9
•1 126 0
955.7
389.3

279 5
317.5
358.6
1
1 134 5
941.5
382.5

275.1
314.7
354.7
1
1,119.6
969.6
395.9

L (M3 plus other liquid assets)
Components (seasonally adjusted):
Currency .
Demand deposits
Other checkable deposits i*
Savings deposits
Small time deposits @
Large time deposits @

M 1305
952.4
391.3

952.2
3,467.5
4,179.8
5,011.0

Measures (seasonally adjusted):
M1
M2

341.4

346.2

1 138 2
-941.6
382.1

349.9

(')

(')

1,120.6
965.6
398.2

1

(')

1

i1)

343.4

(')

341.9

(')

340.0

(')

339.2

0

339.8

342.2

(')

(')

1 156 0
913.8
374.2

1

975.5
3,472.4
"4,178.7
5,025.9

990.1
3,480.2
4,183.0
5,037.4

1,005.9
3,491.4
4 180 0
- 5,040.5

1,019.1
3,498.0
4,178.5
- 5,050.9

1,026.6
r
3,496.9
-4,166.4
r
5,043.6

1,033.3
-3,486.9
-4,141.0
-5,018.2

1,033.1
-3,475.4
-4,135.4
-5,013.0

-1,035.3
-3,472.9
-4,131.0
-5,010.6

282 4
322.5
362.8
M 145 7
926.9
378.1

286 3
329.0
366.7
1
1,158.9
912.7
373.7

288.0
336.0
373.7
1
1,170.5
896.5
367.0

289.8
339.5
381.6
1
1,180.3
881.7
361.3

292.3
340.9
385.2
1
1,186.0
-870.1
357.5

r
-294 8
296 9
341.9
341.9
386.4
388.6
1
•1,184.4 - 1,182.4
-855.1
860.9
350.7
346.3

299 0
342.0
-386.3
1
1,178.8
-850.3
340.5

1,167.9
898.6
366.0

1

1,179.4
882.9
361.2

1

1,180.0
'871.4
356.2

'1,177.1 - ' 1,178.3 - 1 1,184.4
-856.2
-849.1
864.0
345.7
341.5
348.3

1

1,189.1 " ' 1,195.4
-841.8
-834.0
-345.0
-348.0

1,043.2
-3,474.6
-4,142.1
-5,027.3

-1,067.2
3,505.7
-4,171.6
5,069.1

333.0
1

(')

1 204 4
826.6
344.0
1,073.7
3,512.1
4,167.1

301 4
347.3
-386.3
1,181.6 - '
-843.8
-346.0

304 0
306 8
360.7
359.2
-395.7
398.2
1 193 7 '1,199.3
-837.8
829.8
342.1
-345.9

29,674
-1,163

21,749
4,998

28,011
1,412

27,871
11,004

1

PROFITS AND DIVIDENDS (QTRLY.)
[Millions of dollars]
Manufacturing corps. (Bureau of the Census):
Net profits after taxes all manufacturing
Food and kindred products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Stone, clay, and glass products
Primary nonferrous metal
Primary iron and steel
.. .
Fabricated metal products
Machinery
Electrical and electronic equipment
Transportation equipment (except motor vehicles
and equipment)
Motor vehicles and equipment
All other manufacturing industries
Dividends paid (cash), all manufacturing

67 965
19,639

833
2,164
20,558
10,868
-1,602

28 734
4,997

10 794
4,305

94,160
20,392
2,103
2,572
23 252
9,577

29 889
6,012

568
942

570
726

669
128

6 426
2,386

6 404
2,352

204

986

1 036

-1,439
3,359
-2,740
4,706

32

524
462
248

534
482
577

3 763
2,578
-319
-309
-650

4,498
-3,713
9,840

1,671
3,016

1,572
-287
2,815

-5,941
2173

423

86

441

- 1 142

-1,166

-923

15,553

15,507

2 694
- 7 607
15,404

876

60,222

195

SECURITIES ISSUED
[Millions of dollars]
Securities and Exchange Commission
Estimated gross proceeds, total
By type of security
Bonds and notes, corporate
Common stock
Preferred stock
By type of issuer
Corporate, total #
Manufacturing
Extractive
Public utility
Transportation
Communication
Financial and real estate
State and municipal issues (Bond Buyer):
Long-term
Short-term

r

172,576
43,809

235,026
39,913

18,231

27,672
8,557

17,596
2,714

21,121
3,363

19,314
12,874

22,771

16,787

969

845

793

22,669
1,027

-18,466
-1,633

-18,985
-1,769

68.8

73.1

71.7

73.7

75.8

76.1

74.3

72.9

73.6

74.6

75.2

78.2

80.4

79.1

78.7

79.6

12,698.11

11,629.01

840.52

904.49

999.56

867.62

859.79

981.83

756.31

836.16

947.76

890.82

1,022.47

1.002.59

827.90

766.80

SECURITY MARKETS
[Millions of dollars, unless otherwise indicated]
Stock Market Customer Financing
Margin credit at broker-dealers, end of year or month
:
ree credit balances at brokers, end of year or
Margin-account
Cash-account
Bonds
Prices:
Standard & Poor's Corporation, domestic municipal
(15 bonds), dol. per $100 bond
Sales:
New York Stock Exchange, exclusive of some
stopped sales, face value, total
See footnotes at end of tables.




b-16

• July 1993

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1963-91

SURVEY OF CURRENT BUSINESS
Annual
1991

1992
1992

May |

June

July

Aug.

1993
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

|

Apr.

Mar.

May |

June

6. FINANCE-Continued
Bonds—Continued
[Percent]
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa
A
Baa

9.23

8.55

8.71

8.63

8.29

8.26

8.51

8.35

8.24

8.01

7.83

7.76

7.78

7.66

8.77
9.05
9.30
9.80

8.14
8.46
8.62

8.28
8.63
8.81
9.13

8.22
8.56
8.70
9.05

8.07
8.37
8.49
8.84

7.95
8.21
8.34
8.65

7.92
8.17
8.31
8.62

7.99
8.32
8.49
8.84

8.10
8.40
8.58
8.96

7.98
8.24
8.37
8.81

7.91
8.11
8.26
8.67

7.71
7.90
8.03
8.39

7.58
7.72
7.86
8.15

7.46
7.62
7.80
8.14

7.43
7.61
7.80
8.21

7.33
7.51
7.74
8.07

9.25
9.21

8.52
8.57

8.70
8.72

8.61
8.64

8.42
8.46

8.23
8.34

8.19
8.32

8.38
8.44

8.49
8.53

8.34
8.36

8.24
8.23

8.01
8.00

7.80
7.85

7.74
7.76

7.77
7.78

7.64
7.68

Domestic municipal:
Bond Buyer (20 bonds)
Standard & Poor's Corp. (15 bonds) .

6.90
7.45

6.45
6.41

6.58
6.57

6.42
6.50

5.89
6.12

6.31
6.08

6.33
6.24

6.62
6.43

6.26
6.35

6.17
6.24

6.10
6.18

5.60
5.87

5.78
5.65

5.75
5.78

5.73
5.81

5.57
5.73

U.S. Treasury bonds, taxable ±

8.16

7.52

7.80

7.72

7.40

7.19

7.08

7.26

7.43

6.65

6.64

6.68

6.55

1,048.27

1,169.86
3,284.29
214.41
1,349.63

1,195.56
3,376.78
213.15
1,380.45

1,174.92

1,170.50

1,154.13

2,929.32
210.32
1,170.22

1,138.91
3,198.69
217.15
1,286.16

1,170.48
3,238.49
217.72
1,375.81

1,199.25
3,303.15

376.17
445.81
300.66
544.04
141.95
288.54
248.19

415.74
490.57
312.12
625.18
149.21
341.74
315.51

29.69
90.36
114.67
379.58

N.Y. Stock Exchange common stock indexes,
12/31/65=50:
Composite
.
Industrial
Transportation
Utility
Finance
NASDAQ over-the-counter price indexes:
Composite, 2/5/71=100
Industrial
Insurance
Bank
NASDAQ/NMS composite, 7/10/84=100 .
Industrial

By group:
Industrials
Public utilities .
Railroads

7.17

Stocks
Prices:
Dow Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks)
Standard & Poor's Corporation, 1941-43=10
unless otherwise indicated. §
Combined index (500 Stocks)
Industrial, total (400 Stocks) #
Capital goods
Consumer goods
Utilities (40 Stocks)
Transportation (20 Stocks), 1982=100
Railroads
Financial (40 Stocks), 1970=10
(subcategories in 1941-43=10)
Money center banks
Major regional banks
Property-Casualty Insurance

Yields (Standard & Poor's Corp.), percent
Composite (500 stocks) 0
Industrials (400 stocks)
Utilities (40 stocks)
Transportation (20 stocks)
Financial (40 stocks)
Preferred stocks, 10 high-grade
Sales:
Total on all registered exchanges (SEC):
Market value, mil. $
Shares sold, millions
On New York Stock Exchange:
Market value, mil. $
Shares sold (cleared or settled), millions .
New York Stock Exchange:
Exclusive of odd-lot stock sales (sales
effected), millions
NASDAQ over-the-counter:
Market value, mil. $
Shares sold, millions
Shares listed, NYSE, end of period:
Market value, all listed shares, bit. $ .
Number of shares listed, millions

1,430.12

221.97
1,488.05

1,250.36
3,367.26
234.23
1,533.16

422.84
496.09
306.09
640.65
152.12
351.64
330.89

435.64
509.50
311.24
655.71
157.18
363.35
343.65

435.23
504.96
312.36
636.16
159.79
374.27
354.77

441.70
508.91
318.04
628.27
166.41
379.57
366.03

36.13
111.21
149.35
460.56

38.03
118.66
158.58
468.44

39.98
123.84
165.85
482.75

41.34
130.73
172.06
481.40

230.12
285.76
191.64
102.26
178.27

226.97
279.69
192.30
101.62
181.35

232.83
287.30
204.78
101.13
189.27

239.47
294.86
212.34
103.84
196.86

569.00
603.07
678.01
461.64
251.98
241.69

580.68
621.06
685.03
456.88
257.35
249.13

585.01
624.45
714.82
462.12
259.31
250.49

630.86
680.98
734.82
487.91
279.99
273.60

3.00
2.65
5.58
2.01
2.89
7.47

2.97
2.62
5.47
2.17
2.94
7.21

3.00
2.66
5.49
2.16
2.98
7.09

3.07
2.74
5.52
2.12
2.91
7.22

164,313
5,080

163,921
5,155

143.874
4.645

149,984
5,500

143,429
4,240

142,447
4,299

124,095
3,817

130,809
4,710

1,290.45 1,287.87 1,285.19
3,423.62 3,478.17 3,513.81
242.05
237.81
241.47

1,271.64
3,440.73
239.97
1,541.53

212.46
1,333.28

219.07
1,303.10

1,254.65

1,156.92
3,293.92
220.03
1,275.19

414.81
490.72
319.45
618.26
147.25
356.62
335.10

408.27
481.96
312.12
598.89
146.79
342.07
322.35

415.05
487.16
309.35
617.31
153.70
334.44
315.56

417.93
490.88
305.32
627.14
149.97
321.77
305.61

418.48
493.56
307.68
627.04
155.36
323.19
304.24

412.50
483.33
300.35
614.96
154.28
327.46
310.25

35.69
113.31
150.41
419.61

35.17
117.36
154.88
383.81

34.90
115.36
150.34
390.63

36.18
118.86
153.07
415.77

35.78
112.94
148.87
417.50

35.22
109.70
145.81
424.70

205.48
257.09
173.97
92.26
150.18

229.00
284.61
201.09
99.45
179.24

228.54
285.16
207.87
98.23
175.89

224.67
279.53
202.02
97.22
174.82

228.16
281.90
198.36
101.17
180.92

230.07
284.44
191.30
103.41
180.46

491.56
549.48
535.65
319.34
217.09
218.25

599.49
655.04
659.78
438.22
265.46
263.85

581.47
630.97
614.90
428.79
257.43
252.57

566.66
608.48
615.17
436.01
250.86
243.57

568.72
604.99
642.64
456.84
251.82
242.32

3.24
2.82
5.95
2.30

2.98
2.63
5.72
1.99
2.89
7.46

2.99
2.63
5.80
1.87
2.94
7.61

3.06
2.69
5.84
1.97
3.00
7.53

1,776.275
58,031

2,033,200
65,501

160,568
4,802

1,531,813
47,674

1,757,494
53,344

138,059
3,926

3,337.79 3,329.40 3,307.45
220.19

220.17

1,210.92

3,277.71

1,619.79

1,583.39

1,533.86

450.16
517.24
323.03
630.61
170.48
376.22
365.41

443.08
505.00
321.79
595.41
172.27
390.85
376.47

445.25
513.68
327.22
608.31
167.52
386.40
372.27

448.06
515.73
330.12
602.13
171.65
374.77
367.92

42.88
136.32
178.34
504.67

44.51
144.73
188.41
503.89

44.55
144.11
188.45
504.83

42.82
137.97
176.61
490.10

43.22
138.76
177.57
482.50

239.67
292.07
221.00
105.51
203.38

243.41
294.40
226.96
109.44
209.92

248.11
298.75
229.41
225.06
217.01

244.72
292.16
237.97
227.58
216.02

246.01
297.83
237.79
222.41
209.40

247.16
298.78
234.30
226.53
209.74

661.28
710.38
771.93
518.84
293.59
285.56

691.13
740.27
806.19
556.01
306.61
297.27

681.71
716.02
840.17
596.89
302.11
287.11

685.30
709.22
851.63
618.87
303.66
284.30

665.33
681.19
845.66
624.55
294.34
272.48

686.45
715.73
836.89
600.22
303.62
286.31

695.38
725.04
835.49
594.22
307.35
289.80

2.98
2.65
5.60
1.98
2.80
7.43

2.90
2.57
5.44
1.91
2.69
7.45

2.88
2.57
5.37
1.86
2.68
7.35

2.81
2.50
5.15
1.75
2.58
7.37

2.76
2.48
4.99
1.76
2.51
6.70

2.82
2.54
4.98
1.69
2.54
6.69

6.78

6.97

171,923
5,534

155,076
5,044

187.494
6,258

187,356
6,027

211,249
6,628

-"224,039
r
6,972

'229,938
'"7,177

201,835
6,526

149,347
4,588

133,852
4,162

160,620
5,070

162,394
4,964

183,872
5,474

197,791
5,863

201,928
6,046

175,154
5,381

45,267

51,376

3,666

4,296

4,274

3,647

4,019

4,469

4,154

5,311

5,466

5,772

5,839

5,102

5,531

693,854
41,264

891.785
48,453

57,296
3,126

64,635
3,591

63,154
3,597

53,571
3,083

66,871
3,711

75,795
4,227

80,749
4,407

89,349
4,951

107,993
5,188

107,865
4,976

104,714
5,155

101,843
4,889

103,225
5,108

105,820
5,374

3,712.84
99,622

4,035.00
115,839

3,782.33
107,148

3,712.82
110,121

3,870.96
111,389

3,806.74
112,519

3,840.63
113,450

3,870.50
114,047

3,976.01
114,580

4,035.00
115,839

4,091.01
117,605

4,137.00
119,524

4,249.00
120.679

4,151.06
121,275

4,246.01
122,645

4,291.00
124,759

39.373.6
38,478.7

39,769.5
38,953.0

7. FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
[Millions of dollars]
Exports (mdse.), incl. reexports, total @ .
Seasonally adjusted
Western Europe
European Community
Belgium and Luxembourg
France
Federal Republic of Germany
Italy
Netherlands
United Kingdom
Eastern Europe
Former Soviet Republics
See footnotes at end of tables.




421,730.0

448.163.6

36,736.6
35,973.5

39,094.3
38,040.1

35,979.4
37,430.9

34,837.8
36,370.0

36,810.9
37,661.3

40,114.5
38,885.2

37,670.2
37,795.9

38,536.8
39,177.9

35,921.9
37,504.5

36,004.1
36,928.1

41,894.6
38,894.5

r
r

118,723.3
103,208.5
10,790.8
15,365.4
21,316.5
8,578.5
13,528.1
22.063.4

116,983.3
102,845.0
10.050.4
14.575.0
21.235.8
8.697.8
13.740.2
22.808.1

9,648.9
8.523.7
864.6
1,213.9
1,824.3
762.2
1.020.6
1,918.4

9,484.5
8,215.4
824.3
1.151.8
1.614.7
838.0
1.050.8
1.815.2

8,744.0
7,664.0
727.9
1.012.7
1,656.5
697.9
983.0
1.655.5

8,678.7
7,660.9
832.3
1,009.2
1,626.0
727.2
919.5
1,652.1

9,393.0
8,278.6
932.7
1,252.6
1,634.3
686.9
1.071.7
1,735.1

10,377.7
9,194.5
888.8
1.219.4
1,952.1
641.8
1.296.2
2,213.2

9,195.5
8,031.0
802.4
1,095.7
1,626.5
596.8
1,124.7
1,879.8

9,751.3
8,382.5
859.2
1,195.4
1,751.0
648.1
1.240.5
1,912.5

9,756.2
8,640.5
758.5
1,266.0
1,704.9
569.8
1,150.0
2,296.3

9,655.5
8,436.8
750.2
1,324.2
1,615.9
594.7
1,189.4
2,086.0

10,839.7
9,594.7
842.9
1,350.6
1,980.8
573.0
1,260.6
2.695.2

9,915.3
8,017.6
673.8
1,039.2
1,633.1
679.9
1,130.1
2,044.6

9,624.4
7,816.1
726.1
1,232.2
1,643.5
557.5
1.051.6
1.865.1

4,785.5
3,577.6

5,497.5
3,625.5

320.0
220.0

418.9
290.5

533.7
330.9

448.0
334.9

396.3
247.6

493.7
329.0

628.5
431.8

513.8
218.9

346.3
209.7

363.4
193.7

443.6
256.6

726.9
382.0

572.5
399.6

July 1993 •

SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1963-91

Annual
1991

1992
1992

May

June

July

Aug.

|

1993
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

|

May

7. FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS-Continued
[Millions of dollars]
Exports (mdse.), incl. reexports—Continued
Western Hemisphere:
Canada 0
Brazil
Mexico
Venezuela

85,102.5
6,154.1
33,275.6
4,668.:

90,632.2
5,740.1
40,597.5
5,438.1

7,666.0
430.7
3,386.3
454.8

8,397.
594.2
3,496.0
497.5

Asia:
China
Hong Kong
Japan
Republic of Korea
Saudi Arabia
Singapore
Taiwan

6,286.8
8,140.5
48,146.5
15,518.6,572.2
8,807.8
13,191.1

7,469.6
9,068.7
47,763.9
14,630.1
7,163.4
9,623.4
15,204.8

613.
704.2
3,666.1
1,288.2
535.9
792.;
1,298.0

696.8
830.8
4,163.8
1,357.0
729.1
1,061.4
1,304.6

6,879,
426.

7,659.8
491.9
3,404.0
437.8

7,043.3
730.8
3,360.
360.0

6,822.0
435.3
3,189.0
413.6

7,638.5
411.9
3,304.8
405.'

9,392.3
471.5
3,758.2
410.

3,619.0
453.3

743.5
883.
4,123.8
1,187.

694.2

879.6
899.
3,964.5

613.1
747.1
3,713.1
1,203.7
551.6
941.8
1,301.9

696.2

622 5
879,
4,404.5

731.1
869.8
3,685.

498.
709.
1,072.2

489.1
741
3,840.0
1,068.9
557.5
777.4
1,242.0

1,132.3
681.0

906.3

1,256.2
632.2
823.:

1,426.0

1,325.1

106.5

73.0
352.3
820.6
2,056.2
37,989.7

7,095.6
384.8
3,153.9
493.7

437.5
864.;
4,181.0
1,210.6

717.7
682.1
4,015.1,033.2

492.9
808.0
1,099.9

7,839.8
457.3

3,561.5
486.

Africa:
Nigeria
Republic of South Africa

1,000.9.

97.5

89.6

35.8

2,086.

2,425.0

163.0

195.3

253.2

225.3

210.3

Australia

8,416.2

8,912.5

798.7

825.4

674.3

642.8

881.0

OPEC

832.9

591.
949.
1,462.9

19,083.5

Exports of U.S. merchandise, total @
By commodity groups and principal
commodities:
Agricultural products, total
Nonagricultural products, total
Food and live animals*
Beverages and tobacco
Crude materials, inedible, exc. fuels #
Mineral fuels, lubricants, etc. #
Oils and fats, animal and vegetable
Chemicals
Manufactured goods class, chiefly by
material
Miscellaneous manufactured articles
Machinery and transport equipment, total ,
Motor vehicles and parts

21,926.8

1,662.4

1,656.9

1,801.2

400,839.1

425,614.3

34,883.;

37,155.8

34,232.6

33,198.5

34,909.9

38.462.
362,379.8
29,555.0
6,750.3
25,462.0

42,078.2
382,989.2
32,864.2

3,154.9
34,120.1
2,579.1
580.9
1,968.4
959.7
122.1
4,006.9

3,189.8
30,571.0
2,842.
572.7
2,004.3
1,015.1

3,021.0
29,894.1
2,647.6
622.

4,097.
33,892.2

122.9
3,700.3

1,954.;
867.5
126.1
3,512.5

3,310.9
31,954.6
2,713.0
574.2
2,063.8
864.8
136,
3,714.7

1,777.2

1,971

r

8,031.7
480.2
3,447.1
499.6

3,476.6
491.8

834.9
3,813.0
1,089.9
438."

1,242.
630.4

709.2

994.3

1,663.0

1,385.5

714.5
3,892.1
1,119.0
506.
889.
1,071.1

8,777.
481.5
3,507.3

395.6
576.2
1,018.6
4,058.9
1,170.0
579.2

933.5
1,476.7

114.6

94.0

75.8

81.

107.7

59.0

196.3

172.6

203,

170.8

177.5

159.4

797.7

986.7

579.4

637.6

738.1

649.3

724/

1,607.3

1,825.3

1,607.1

1,507.0

1,838.4

35,850.8

36,449.5

34,113.3

34,131.0

39,663.3

3,721.6
32,769.5
2,761.1
640.6
2,147.7
1,077.2
106.3
3,396.8

3,614.0
30,387.2
2,565.4
500.0
2,180.0
935.8
112.3
3,690.0

3,752.6
30,587.

3,796.9
35,973.5

2,760.2
535.

2,353.9
839.7
142.8
3,818.6

3,810.8
32,040.0
2,808.9
727.4
2,191.9
946.3
110.3
3,314.0

1,660.2

1,683.0

37,342/

37,598.5

2,219.1
789.1
134.6
3,550.5

2,955.5
512.4
2,333.3
768.0
138.5
4,013.4

3,568.3
33,678.3
2,797.1
520.3
2,047/
834.9
104.8
3,751.5

3,296.3
34,302.
2,653.6
519.3
1,967.9
944.4
115.
3,983.8

3,054.9
4,253.1
18,021.6
3,396.6

3,105.6
4,342.
17,968.7
3,364.6

47,801.6
'48,660.

46,302.1
47,318.6

9,465.8
7,970.3
424.0

9,292.4

12,033.2
1,147.1
42,966.7

7,063.5
25,367.4
11,122.3
1,447.3
43,956.2

35,566.0
43,162.2
187,359.9
28,175.1

36,301.9
48,001.2
200,933.5
32,253.1

3,058.6
3,973.2
16,350.8
2,951.;

3,129.!
4,222.5
18,315.0
2,963.3

2,879.1
3,793.2
15.224.0
2,148.4

2,992.
3,744.2
15,054.3
2,261.3

3,155.
4,068.4
16,733.8
2,593.4

3,180.4
4,444.3
17,755.3
2,756.6

3,032.9
4,054.6
16,783.3
3,136.9

2,801.6
3,884.7
18,061.5
3,070.4

2,892.4
3,833.5
15,447.1
2,365.

2,913.5
3,840.8
16,205.
2,945

488,453.0

532,664.8

42,145.6
43,645.1

45,811.8
44,889.0

45.872.4
44,937.8

45,055.4
45,054.0

46,503.4
45,967.9

49,820.4
46,118.6

46,314.4
45,632.8

45.812.8
46,143.1

41,909.
44,832.;

50,780.9
49,347.3

102,596.5
86,480.9
4,138.7
13,372.1
26,229.3
11,787.4
4,827.0
18,519.6

110,794.3
94,050.1
4,705.8
14,810.3
28,828.8
12,300.1
5,287.2
20,151.7

8,682.5
7,303.3
375.5
1,044.0
2,285.2
913.6
481.0
1,599.9

9,574.4
8,126.7
404.5
1,317.0
2,333.0
1,168.2

8,757.3
7,588.1
294.5
1,096.6
2,343.6
1.169.3
431.9

9,137.8
7,720.3
415.8
1,276.0
2,332.6
852.3
465.5
1,752.2

10,350.0

9,833.5

8,453.3
492.8
1,289.6
2,439.3
1,210.5
519.3

8,320.3
435.9

10,058.9
8.577.8
414.3
1,376.2
2,742.9
1.047.0
445.6
1,787.0

42,035.0
45,176.
8,022.3
6,892.7
422.
1,033.9
1,959.8
918.
420.3
1,498.2

1,809.8
812.9

1,981.0
817.2

125.2
42.1

156.6
58.0

Western Hemisphere:
Canada
Brazil
Mexico
Venezuela

91.141.1
6,726.8
31,194.3
8,228.4

98,497.2
7,610.7
35,184.0
8,167.5

8,502.4
682.6
2,951.9
593.5

8,814.9
701.3

Asia:
China
Hong Kong
Japan
Republic of Korea .
Saudi Arabia
Singapore
Taiwan

18,975.8
9,286.4
91,582.7
17,024.5
10,978.2
9,976.3
23,036.3

25,675.6
9,799.3
96,542.5
16,690.6
10,366.9
11,317.5
24,601.1

1,837.2
719.5

2,024.6

2.165.3
846.2
7,548.9
1,429.0
1,071.3
1,029.3
2,108.0

Africa:
Nigeria
Republic of South Africa ..

5.360.1
1,733.3

5,073.7
1,723.0

538.3
137.2

Australia

4.010.0

3,677,7

32,960.6

21,952.3
4,822.6
13,079.0
54,342.7
856.7
24,168.7

54,693.7
1,073.6
27,684.3

57,418.9
83,389.6
210,786.5
67,525.4

60,371.2
95,009.2
231,336.3
71,249.6

-66.723.0

-62.11
392.53
454.65

r

3,334.5
4,517.2
19.449.
3,489.8

3,054.2
730.6

8,773.8
562.7

238.1

3,084.1
31,565.
2,405.2
564.5
1.915.9
946.6
118.
3,873.0

VALUE OF IMPORTS
[Millions of dollars]
General imports, total @
Seasonally adjusted
Western Europe
European Community
Belgium and Luxembourg
France
Federal Republic of Germany
Italy
Netherlands
United Kingdom
Eastern Europe
Former Soviet Republics

OPEC
By commodity groups and principal
commodities:
Petroleum and products
Nonpetroleum products
Food and live animals*
Beverages and tobacco
Crude materials, inedible, exc. fuels # .,
Mineral fuels, lubricants, etc
Oils and fats, animal and vegetable
Chemicals
Manufactured goods class, chiefly by
material
Miscellaneous manufactured articles ...
Machinery and transport equipment
Motor vehicles and parts

442.1
1,773.9

3,161.8
683.9

1,765.9
207.9
94.2
7,228.0
615.5
2,849.3
737.1

8,240.;
7,019.6
387.
1,121.5
2,203.0
863.5
383.6
1,492.5

10,402.5

166.2
63.7

178.2
93.6

248.9
138.8

7,862.4
548.2
2,811.4
679.2

8,544.3
366.7
2,989.0
604.1

10,053.7
638.0

2,083.7
678.0

8,020.6
1,160.1
705.3
822.9
1,663.0

9,667.3

2,030.6

2,189.5
790.4
7,616.3
1,365.7
880.7
851.1
1,972.0

1,867.2
560.4

9,058.2
1,299.0
877.1
1,052.4
2,033.1

1,403.1
775.4
1,115.8
2,114.3

163.1
74.7

184.7

96.9

8,783.5
492.1
1,326.2
2,762.1
1.012.1
535.8
1,924.7
159.1
58.8

7,816.8
652.9

8,580.6
564.0
3,033.5
821.9

9,011.4
584.0
3,392.8
853.7

8,378.8
774.8
3,021.3
759.7

2,765.2
924.4
8,277.9

2,314.6
878.3
8,579.7
1,345.0
841.7
1,084.8

1,641.5

2,978.3
685.3

1,236.9
2,678.4
1,147.0
424.5
1,706.0
153.7
61.0

206.9
81.2

8.221.6
579.8
2,814.5
771.6

2,039.9
793.7

8,735.1
448.3
1,357.3
2.588.6
1,179.7

496.7
1,937.1

3,459.1

1,645.6
955.6
893.1
2,209.8

2,598.7
903.1
7,745.9
1,476.5
859.8
994.3
2,205.9

1,424.7
907.8

2,740.7
1,051.6
9,081.5
1,549.3
866.2

1,066.8
2,153.4

984.6
2,224.4

573.6
176.6

573.3
145.6

506.7
144.5

332.9
155.2

539.6
144.7

452.2
146.9

352.4
153.6

455.5
140.2

412.5
119.6

537.9
165.1

289.2

326.8

315.5

309.0

272.9

272.4

324.8

288.8

212.3

246.8

32,952.8

2,617.5

3,075.6

3,128.1

2,924.8

2,898.5

3,143.4

2,913.5

2,863.9

337.1
2,722.3

2,465.5

2,876.8

22,645.5
5,380.5
13,967.9

1,834.3

1,774.0

1,777.1
374.7
1,174.0

2,112.2
502.5
1,452.8

4,069.6

4,909.5
87.3

2,329.2

393.1
1,177.5
5,043.7
81.3
2,312.8

1,947.7
482.5
1,230.1
5,216.6
105.8
2,418.0

1,977.0

1,234.1
4,835.0
116.8
2,244.3

1,836.9
433.6
1,131.1

2,134.9

1,797.2
552.6
1,145.9
5,170.8
74.5
2,326.3

1,706.2
499.4

4,467.9
74.4

1,930.0
614.7
1,188.3
4,980.0
102.7

5,060.4
7,026.5
18,342.6
5,973.7

5,142.9
8,139.2
19.594.4
5.829.4

5,330.3
9,171.9
18,508.9
4,951.9

5,063.6
8,693.7
18,681.0
5,144.1

5,168.7
9,008.2
20,067.7
5,926.5

-84,501.2

-5,408.9
-7,671.6

-6.717.5
-6,848.9

-9.893.0 -10.217.5
-7.506.9 -8,684.0

-80.45
423.31
503.77

-7.74
33.83
41.58

-6.46
35.89
42.35

7,161.2
1,335.8
811.2
848.1

465.6
1,163.2

2,491.4
942.5

8,114.2

1,122.3
4,626.2
98.1
2,551.0

1,929.4
317.0
1,218.3
4,642.1
80.6
2,253.0

75.1
2,130.2

5,412.9 5,098.3 4,849.7
9,466.8 8,126.0 7,671.2
21,653.9 20,653.9 20,924.4
6.756.6 6,668.3
6,584.3

5,016.9
7,309.6
17,814.6
5,443.3

4,621.3
7,189.9
19,062.4
6,384.1

4,902.9
109.8
2,265.2

441.5

r

1,268.9
2,331.2

975.5
440.0

7,857.9

434.9
1,198.1

2.341.
956.9
432.0

1,874.9
277.3
156.4

1,854.6

9,642.0
613.7
3,355.2
715.8

9,605.4
589.8
3,257.4
692.3

2,223.5
662.4
9,181.0
1,354.5
832.7
923.2
2,005.5

2,374.6
733.0
7,810.9

677.6
166.4
250.6
3,073.0

461.9

1,890.8

493.0

263.6
152.3

1,412.1
755.2
985.3
1,984.7

156.9
255.1

2,720.9

1,890.8
478.6
1,208.4
4,968.5
81.8

2,619.2

1,317.9
5,191.4
81.4
2,557.6

2,398.9

5,759.1
8,403.1
23,048.5
7.425.4

5,410.0
7,662.9
21,746.3
7,202.1

5.309.0
7,611.1
20,401.6
6,463.7

-5.905.2 -8.886.3
-7,904.1

'-8,428.0

-6.532.6

-10.39
37.13
47.52

-10.24
r
36.65
r
46.90

-8.32
37.16
45.48

MERCHANDISE TRADE BALANCE
[Millions of dollars]
Trade balance:
Not seasonally adjusted
Seasonally adjusted

-9,692.4 -9,705.8
-8,306.6 -7,233.4

-8,644.2
-7,836.9

-7.275.9
-6.965.2

-6,113.1
-7,671.7

-6.38
36.92
43.30

-7.25
36.06
43.31

-6.85
37.41
44.26

-7.86
36.01
43.87

[Billions of 1987 dollars]
Seasonally adjusted:
Trade balance
Exports
Imports
See footnotes at end of tables.




-6.98
35.45
42.43

-8.11
34.44
42.55

S-17

-7.67
35.64
43.31

-8.36
35.19
43.55

June

o-lo

• July 1993

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1963-91

Annual
1991

|

1992
1992

May

June

July

Aug.

1993
Sept.

Oct.

Nov.

Dec.

Jan.

|

Feb.

Mar.

Apr.

May

101.7
'98.9
102.2

101.4
96.0
102.3

101.0
'82.7
103.2

100.6
79.7
103.2

June

7. FOREIGN TRADE OF THE UNITED STATES-Continued
Export and Import Price Indexes @
[1990=100]
All exports
Agricultural exports
Nonagricultural exports

101.0
98.5
101.4

101.2
97.9
101.8

101.1
97.5
101.7

101.4
97.9
102.0

All imports
Petroleum imports
Nonpetroleum imports

100.1
80.8
102.6

99.7
78.6
102.3

100.2
81.2
102.5

100.7
82.9
102.8

Waterborne trade:
Exports (incl. reexports):
Shipping weight, thous. metric tons
Value, mil. $

31,578
13,657

31.436
13,632

30,126
15,210

30.612
14,103

General imports:
Shipping weight, thous. metric tons
Value, mil. $

41,918
23,570

35,343
21,636

'45,443
26,468

36.19
57.4
4,609

33.38
58.4
4,353

40.10
63.5
5,171

25.62
395
135

24.51
398
123

29.43
457
138

10.57
423
36

8.87
460
34

10.67
526
40

651

630

732

215.7

212.3

209.4

r

Shipping Weight and Value

8. TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers
Certificated route carriers:
Passenger-miles (revenue), billions
Passenger-load factor, percent
Ton-miles (revenue), total, millions

49.06
72.6
6,004

51.32
75.7
6,207

40.31
63.8
5,130

39.09
61.8
5,111

35.75
59.3
4,696

37.82
59.9
4,976

Domestic operations:
Passenger-miles (revenue), billions
Cargo ton-miles millions
Mail ton-miles millions
Operating revenues (quarterly), mil. $ §
Operating expenses (quarterly), mil. $ §
Net income after taxes (quarterly), mil. $ §
International operations:
Passenger-miles (revenue), billions
Carao ton-miles millions
Operating revenues (quarterly), mil. $ §
Operating expenses (quarterly), mil. $ §
Npt income aftpr taxes fauarterM mil $ 8

478.08
63.6
60,862

75.158
57,092
5,509
957
76,943
-1,992

78,119
59,811
5,919
1,174
80,492
-3,041

332.57
4,946
1,412

347.50
5,191
1,568

56,230
56,758
-1,278

57.629
58,725
-2,003

115.39
5,279
493

130.58
5,798
496

18,928
20,185
714

20,490
21,767
1 038

8,643

'8,556

100
22,091

100
24,180

100
6 037

100
6,270

314

Operating revenues (quarterly], mil. $ §
Passenger revenues, mil. $ ..„
Caroo revenues mil $
Mail revenues, mil. $
Operating expenses (quarterly), mil. $ §
Net income after taxes (quarterly), mil. $ §

38.55
61.7
4,929

44.53
69.1
5,550

447.95
62.6
56,925

446

165

169

13

178

207

49

49

54

182.0

201.4

27,845
26,949
94

28,349
27,508
90

7 001
6 795
24

7 092
6,888
22

7,240
7 025
21

7,027
6,825
21

28,062
-38
-92

25,316
1,960
2,060

6,664
265
162

6,367
507
411

6,156
601
892

6,123
558
618

1,039.8

1,064.0

258.8

266.6

274.2

264.0

'83.7

109.3

110.0

110.6

110.6

20 704
16,013
1,492
279
20,784
-108

19,301
14 764
1,450
280
19,894
-689
27.84
435
122

32.47
440
117

35.91
440
122

37.30
434
119

12.06
502
38

28.05
475
139

26.24
422
126

13.15
498
39

14.02
483
39

11.53
492
37

11.03
545
43

9.51
526
46

10.18
490
62
4 793
5,378
-502

6 021
5,932
184

5 048
5,338
-184

27.64
448
195
14,342
15.026
1 144

14,683
14,851
-292

14,253
14.556
505
10.71
480
38

28.79
446
123

19135
14 433
1,578
333
20 404
- 1 646

Urban Transit Industry
Passengers carried, total, millions
Motor Carriers
Carriers of property, large, class 1, qtrly.:
Number of reporting carriers, number
Operating revenues, total, mil. $
Net income, after extraordinary and prior period
Tonnage hauled (revenue), common and contract
carrier service, mil. tons
Freight carried—volume indexes, class 1 and II
intercity truck tonnage (ATA):
Common carriers of general freight, seas, adj.,
1967-100

714

202.5

712

203.9

'698

206.5

'720

202.0

'759

200.3

759

695

698

100
6,333

200.0

203.5

209.0

215.4

'208.9

Class 1 Railroads ±
Financial operations, quarterly (AAR), excluding
Amtrak:
Operating revenues, total, mil. $ #
Frpinht mil fl
Passenger, excl. Amtrak, mil. $
Operating expenses mil $

Net railway operating income, mil. $
Traffic:
Revenue ton-miles, qtrly. (AAR). billions
Producer Price Index, line haul operations, 121
34-100

110.0

110.0

109.8

109.9

109.9

110.1

110.1

110.3

110.5

'110.5

1

106.9

'82.9

110.6

110.7

Travel
Lodging industry:
Restaurant sales index, same month 1967=100
Hotels' Averaae room sale dollars 0
Rooms occuoisd % of tofal
Motor hotels: Average room sale, dollars 0
Rooms occuDied % of total
Economy hotels: Average room sale, dollars 0
Rooms occunisd % of total
Foreign travel:
U.S. citizens: Arrivals (quarterly), thousands
DeDartures (ouarterlv) thousands
Aliens: Arrivals (quarterly), thousands
Departures (quarterly), thousands
Passports issued, thousands

17.839
17 579
17.625
15,708
3,376

3.282

313

367

308

243

224

207

196

214

258

342

460

424

402

457

National parks, recreation visits, thousands ##

56,750

'57,886

'5,165

'7,779

'10,432

'10,296

'6,708

'4,936

'2,062

'1,564

1,556

'1,623

'2,198

'3,215

'4.816

7,314

See footnotes at end of tables.




July 1993 •

SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1963-91

Annual
1991

1993

1992
1992

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

8. TRANSPORTATION AND COMMUNICATION-Continued
COMMUNICATION
Telephone carriers:
Operating revenues, mil. $ #
Station revenues, mil $
Tolls, message, mil. $
Operating expenses (excluding ta<es), mil $
Net operating income (after taxesi, mil $
Access lines, millions

9. CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
[Thousands of short tons, unless otherwise indicated]
Production:
Aluminum sulfate, commercial (17% AI:O3)
Chlorine gas (100% Cl2)
Hydrochloric acid (100% HCI)
Phosphorus, elemental
Sodium hydroxide (100% NaOH)
Sodium silicate, anhydrous
Sodium sulfate (100% Na2S04)
Sodium tripolyphosphate (100% Na5P,Olo)
Titanium dioxide (composite and pure)

1,185
11,421
3,301
306
11 713
870
794
462
1,095

Sulfur, native (Frasch) and recovered:
Production, thous. metric tons
Stocks (producers') end of period, thous. metric
tons

812
11,141
2,876
281
12012
900
672
1,263

287
2,830
698
61
3 051
224
155

276
2 733
739
70
2,953
225
186
324

249
2,870
774
73
3,070
228
162

327

9,515

9,370

801

798

804

1,195

809

1,036

1,017

916

321

765

724

824

741

792

767

845

765

807

812

809

765

Inorganic Fertilizer Materials
[Thousands of short tons, unless otherwise indicated]
Production:
Ammonia, synthetic anhydrous
Ammonium nitrate, original solution
Ammonium sulfate
Nitric acid (100% HNO3)
Nitrogen solutions (100% N)
Phosphoric acid (100% P2O5)
Sulfuric acid (100% H2SO<)

17,167
7,777
2,243
7,925
3,208
12,056
43,350

17,975
7,667
2,361
8,041 : : : : : : : : :
3,452
12,679
44,399

Superphosphate and other phosphatic fertilizers
(gross weight):
Production
Stocks, end of period
Potash, sales (K2O)

19,418
701
5,460

20,039
849
5,866

5,603
152,183
758,823
472,215

5,321
163,002
810,287
511,949

3
19.4
126.1
'2,913.7
298.1
1
3,925.3
1
396.3

1
134.5
'3,164.8
333.1
' 3,958.9
1
407.4

848

4,262
1,866
592
1,968
809
3,154
11,022

4 607
1 950
611
2,039
927
3140
10,869

5,092
635
261

278

602

4 862
665
380

4,518
1,915
589
2 015
857
3,215
11,399

438

229

5,076
849
439

504

544

511

Imports:
Ammonium nitrate, thous. metric tons
Ammonium sulfate, thous. metric tons
Potassium chloride, thous. metric tons
Sodium nitrate thous metric ton')
Industrial Gases
[Millions of cubic feet]
Production:
Acetylene
Hydrogen (high and low purity)
Nitrogen (high and low purity)
Oxygen (high and low purity)

1 324
42,356
206,177
132100

1,283
39,241
200,879
125,852

1,381
42 793
206,860
132 613

Organic Chemicals; §
[Thousands of metric tons, unless otherwise indicated]
Production:
Acetylsalicylic acid (aspirin)
Ethyl acetate
Formaldehyde (37% HCHO)
Glycerin, refined, all grades, mil Ib 0
Methanol, synthetic
Phthalic anhydride

1

23.6

33.2
782.7
28.2
968.2
95.3

31.9

27.2

33.5
806 2
27.5
948.1
112.0

32.0

26.7

ALCOHOL
Ethyl alcohol and spirits:
Production mil tax gal
Stocks, end of period, mil. tax gal.
Denatured alcohol:
Production, mil wine gal.
Consumption (withdrawals), mil. wine gal
For fuel use, mil. wine gal
Stocks, end of period, mil. wine gal.
See footnotes at end of tables.




S-19

1,198.8
37.4

112.6
24.0

109.6
37.3

113.4
40.9

80.4
35.3

113.1
33.7

115.0
30.7

111.2
34.5

664.9
702.7
354.6
8.8

33.7
30.8
13.7
19.9

31.8
97.1
19.1
15.2

64.9
55.4
25.4
24.3

59.7
39.0
29.5
26.8

68.1
72.0
43.8
22.4

71.7
63.8
35.5
24.7

53.1
58.2
31.1
25.4

34.1
787.5
24.3
1,043.1
97.8

17.2
807 7
895.0
95.2

788

May

June

S-20 • July 1993

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
shown in BUSINESS STATISTICS, 1963-91

Annual

1992

1991

1992

May

June

July

Aug.

1993
Sept.

Nov.

Oct.

Dec.

Jan.

Feb.

Mar.

9. CHEMICALS AND ALLIED PRODUCTS-Continued
PLASTICS AND RESIN MATERIALS
[Thousands of metric tons]
Production:
Phenolic resins
Polyethylene and copolymers
Polypropylene
Polystyrene and copolymers
Polyvinyl chloride and copolymers

1,200.6
7.514.0
3,397.2
3.310.5
1
3.977.4

1

1

1

1

7.445.2
3,562.3

1,865.4
901.8

1877 2
914.3

1 8165
881.9

1,822.0
787.0

5J87.7

"T3817

1 376 9

1 144 6

1,221.9

12,339.8
4,987.7
4,343.0
3,009.3

3,427.0
1,483.4
1,131.5
812.1

3,278.1
1,363.2
1,093.0
821.9

2,803.2
1,022.4
1,059.1
721.6

PAINTS, VARNISH, AND LACQUER
[Millions of dollars]
Total shipments
Architectural coatings
Product coatings (OEM)
Special purpose coatings

11,707.3
4,881.9
3,976.7
2.848.8

10. ELECTRIC POWER AND GAS
ELECTRIC POWER
[Millions of kilowatt-hours, unless otherwise
indicated]
Production:
Electric utilities, total
By fuels
By waterpower

2,825,023
2,549,504
275,519

2,797,219
2,557,659
239,559

Sales to ultimate customers, total (Edison Electric
Institute)
Commercial §
Industrials
Railways and railroads
Residential or domestic
Street and highway lighting
Other public authorities
Interdepartmental

2,733,242
755,073
929,549
5,250
948,922
15,278
76.573
2,598

2,742,097
757,700
934,636
5,245
948,840
15,361
77,690
2,625

644,856
183,074
235,065
1,258
202,547
3,607
18,702
603

744,804
210,989
246,307
1,263
261,505
3,586
20,543
612

671,401
185,446
233,667
1,300
226,291
4,139
19,982
575

689,495
184,066
225,159
1,390
254,603
4,057
19,734
485

184,869

185,782

43,675

53,422

44,896

45,511

56,052
51,449
4,382
170
52
1,900
855
405
381
208
51
8,635
4,973
1,979
1,102
432
149

55,663
51,132
4,314
167
50
1.352
408
263
342
294
46
6,099
2,901
1,291
1,053
733
121

Revenue from sales to ultimate customers (Edison
Electric Institute), mil. $

220,355
198,070
22,285

236,842
214,143
22,698

266,148
246,436
19,711

255,203
237,142
18,062

234,760
217,923
16,838

221,289
204,914
16,375

221,263 244,126
201,970 220,317
19,294 23,808

245,797
221,323
24,474

GAS
Total utility gas, quarterly (American Gas
Association):
Customers, end of period, total, thousands @ ...
Residential
Commercial
Industrial < >
g
Other
Sales to customers, total, tril. Btu
Residential
Commercial
Industrial
Electric generation
Other
Revenue from sales to customers, total, mil. $ ..
Residential
Commercial
Industrial
Electric generation

Other

55,442
50,883
4,340
171
49'
9,937
4,639
2,241
1.754
1,122'
181
45,316
26,060
10,802
5,372
2,537
545

11. FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production, mil. bbl
Taxable withdrawals, mil. bbl.
Stocks, end of period, mil. bbl
Distilled spirits (total):
Production, mil. tax gal.
Consumption, apparent, for beverage
purposes, mil. wine gal.
Stocks, end of period, mil. tax gal.
Imports, mil. proof liters
Whisky:
Production, mil. tax gal.
Stocks, end of period, mil. tax gal.
Imports mil proof liters
Wines and distilling materials:
Effervescent wines:
Production, mil. wine gal.
Taxable withdrawals, mil. wine gal.
Stocks, end of period, mil. wine gal
Imports mil liters
Still wines:
Production, mil. wine gal.
Taxable withdrawals, m/7. wine gal
Stocks, end of period, mil. wine gal.
Imports mil liters
Distilling materials produced at wineries, mil.
wine gal

See footnotes at end of tables.




18.89
16.46
15.45

202.19
180.99
12.64

18.95
17.47
15.38

18.34
16.83
14.99

17.55
16.04
14.50

15.66
14.79
13.40

16.15
14.23
13.41

14.43
13.12
13.07

7.18

7.07

3.64

33.99

7.24

13.36

9.60

27.92
391.96

30.30
441.87

29.11
166.45

27.44

28.20
365.72

29.79
421.08

34.25
413.37

71.12
341.87

4.70
331.59

4.48
377.14

2.10
109.07

1.55
379.44

3.10
308.99

5.90
359.99

6.03
353.37

22.76
23.80
16.09

1.04
1.53
17.77

1.21
1.36
17.76

2.38
1.41
17.69

2.46
1.77
15.82

2.26
2.21
18.58

3.70
4.27
18.51

2.44
4.24
15.62

394.39
376.41
580.09

5.02
32.35
503.61

6.41
30.83
400.75

4.64
29.35
391.38

44.89
28.62
411.02

140.10
32.15
521.01

80.69
30.84
568.32

28.16
32.23
559.22

110.73

3.36

3.42

9.17

18.05

27.39

12.20

9.71

108.75
346.30
402.10

351.68

426.66

40.46

23.08

224.663
204,920
19,743

234,630
211,047
23,583

Apr.

May

June

July 1993 •

SURVEY OF CURRENT BUSINESS
Annual

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

1992

1991

STATISTICS. 1963-91

May

1992

June

July

Aug.

S-21

1993
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

11. FOOD AND KINDRED PRODUCTS; TOBACCO-Continued
DAIRY PRODUCTS
Butter:
Production (factory), mil. Ib
Stocks, cold storage, end of period, mil. Ib
Producer Price Index, 1962=100

1,335.8
539.4
69.5

1,365.0
447.7
59.2

118.2
712.6
60.4

103.0
747.0
55.9

98.0
755.8
56.0

86.7
705.7
56.0

96.6
608.5
58.1

101.6
541.7
58.3

98.3
487.6
58.1

119.8
447.7
58.0

144.4
495.4
53.8

138.9
497.0
'53.8

139.1
525.0
54.0

124.2
565.2
55.0

115.1
'582.3
55.1

578.7
56.5

6,054.9
2,804.9
415.3
317.8

6,488.2
2,936.5
462.0
341.1

552.2
262.0
455.9
340.3

549.8
261.3
465.2
343.4

541.8
254.9
496.2
369.1

533.6
240.2
488.0
364.2

528.4
224.7
470.9
349.8

558.1
237.9
449.7
328.0

547.5
230.6
441.1
319.2

571.6
259.6
462.0
341.1

509.1
247.8
476.1
346.8

488.9
222.9
451.9
327.5

543.9
236.1
460.0
326.7

552.6
254.8
454.5
322.9

568.5
277.7
'480.5
'348.7

387.9

543.1

583.0

51.7

55.3

52.6

45.9

44.9

55.8

47.6

42.9

45.4

37.4

49.8

46.4

45.9

34.7

41.5

73.8

82.6

82.9

86.8

77.8

65.6

68.7

41.5

53.0

64.6

69.4

72.8

81.1

125,683
90,451
12.26

128,300
93,781
13.10

11,280
8,376
12.90

10,897
8,235
13.20

10,900
8,080
13.40

10,673
7,585
13.50

10,263
7,231
13.50

10,532
7,533
13.40

10,184
7,106
13.10

10,659
7,564
12.80

10,760
7,802
12.02

9,965
7,682
12.30

11.087
8,357
12.20

10,956
8,251
12.60

' 11.443

106.8
877.5

168.4
872.1

13.7
89.7

17.4
84.8

15.6
73.4

13.5
59.9

13.2
50.5

15.8
53.3

12.8
55.7

21.1
79.2

13.0
76.5

13.0
83.6

14.7
69.1

11.7
90.7

14.3
103.6

85
61.0

9.1
77.4

9.2
76.3

10.9
98.4

12.4
112.5

7.9
113.6

6.7
95.6

8.9
81.9

9.8
79.9

9.1
77.4

6.3
70.3

7.2
70.4

8.5
77.1

8.2
86.1

5.3
112.6

.893

1.030

1.071

1.092

1.132

1.146

1.039

1.023

1.040

1.029

1.053

1.087

1.091

1.079

1.092

Cheese:
Production (factory), total, mil. Ib
American, whole milk, mil. Ib.
Stocks, cold storage, end of period, mil. Ib
American, whole milk, mil. Ib.
Imports, thous metric 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,
mil. Ib
Exports, thous. metric tons
Fluid milk:
Production on farms, m/7. Ib. t
Utilization in manufactured dairy products, mil. Ib. ..
Price, wholesale, U.S. average, $ per 100 Ib
Dry milk:
Production:
Dry whole milk, mil Ib .
Nonfat dry milk (human food), mil. Ib.
Stocks, manufacturers', end of period:
Dry whole milk, mil. Ib. .
Nonfat dry milk (human food), mil. Ib
Exports, whole and nonfat (human food), thous.
metric tons
Price, manufacturers' average selling, nonfat dry
milk (human food), $ per Ib

11.008
"T13.20

GRAIN AND GRAIN PRODUCTS
Exports (barley corn oats rye wheat) mil bu
Barley:
Production (crop estimate), mil. metric tons
Stocks (domestic), end of period, total, mil. metric
tons
On farms, mil. metric tons
Off farms, mil. metric tons
Exports, including malt, thous. metric tons§
Producer Price Index, No. 2 feed, Minneapolis,
1982-100
Corn:
Production (crop estimate, grain only), mil. metric
tons
Stocks (domestic), end of period, total, mil. metric
tons
On farms, mil. metric tons
Off farms, mil. metric tons
Exports, including meal and flour, mil. metric tons .
Producer Price Index, No. 2, Chicago, 1982=100 ...
Oats:
Production (crop estimate), mil. metric tons
Stocks (domestic), end of period, total, mil. metric
tons
On farms, mil. metric tons
Off farms mil metric tons
Exports, including oatmeal, metric tons
Producer Price Index, No. 2, Minneapolis,
1982=100
Rice:
Production (crop estimate), mil. metric tons
Southern States mills:
Receiots rouoh from Droducers mil Ib
Shipments from mills, milled rice, mil. Ib
Stocks, domestic, rough and cleaned (cleaned
basis), end of period, mil. Ib
Exoorte thous metric tons
Producer Price Index, medium grain, milled,
1982=100

10.110

2

9.936

6

6

7.586
4.319
3.268

7.150
6
4.274
6
2.876

189.86

2

166.15
6
109.09
6
57.07

6

2

6

See footnotes at end of tables.




2.800
.983
•M.817

117.4

7.546
4.319
3.227

9.110
5.683
3.427

4

114.8

115.1

107.9

110.9

111.6

108.6

4

'5.311
2.675
'2.636

107.6

107.9

109.3

4
4

110.2

110.7

3.303
1.485
1.817

107.8

104.9

240.78

200.71
6
145.72
6
54.99

3
3
3

3.534

2

5

1.854
5
.885
5
.968

200.83
145.72
55.11

27.95
15.38
•12.57
1

107.0

96.4

88.3

89.0

83.8

82.0

3

'144.23
92.21
'52.03
85.6

85.7

84.1

3
3

86.7

927

94.22
56.30
37.92
90.8

84.5

4.276

2.485
5
1.341
5
1.144

1

69.56
38.55
31.02
104.6

96.0

97.0
2

4

112.9

108.3

5

7.142

5

88.8

490
475
970

101.3

90.3

83.1

87.4

90.7

91.3

88.9

85.7

89.8

88.4

80.3

101.1

104.9

104.9

105.5

98.7

93.5

92.5

89.4

88.2

87.7

88.4

82.1

87.9

766

100.7

79.1

552
534

104.1

105.7
2

.248

83.5

.304
74.7

2

53.92
16.56
37.36
'67.38

2

2

2

6

6

39.29
6
15.37
6
23.91

2

1.642
5
.960
5
.682

8.123

1,904

110.2

88.2

1,112

86.4
2

10 150
6,614

2

5

1.854
5
.885
5
.968

514
513

70.4
2

Rye:
Production (crop estimate), mil. metric tons
Producer Price index, No. 2, Minneapolis,
1982=100
Wheat:
Production (crop estimate), total, mil. metric tons ...
Spring wheat, mil. metric tons
Winter wheat, mil. metric tons
Distribution, quarterly, mil. metric tons@
Stocks (domestic), end of period, total, mil. metric
tons
On farms, mil. metric tons
Off farms, mil. metric tons
Fxoorta total includino flour mil metric tons
Wheat only, mil. bu

f>
6

66.92
23.20
43.72
64.63

43.24
r>
18.29
6
24.95

1453

1173
4

12.84
4
3.94
4
8.91

87.9

57 36
26 65
30 70

15.34

43.29
18.29
25.00

'28.40
'10.23
'18.16

82.0

14.46
4

14.40
4
5 00
4
9.39

b-22

• July 1993

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1963-91

Annual
1991

1992
1992

11.

May

June

July

Aug.

1993
Sept.

Oct.

Nov. I

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

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.),

1982=100

78.1

Hard red spring, No. 1, ord. protein (Minn.),
1982=100
Wheat flour:
Production:
Flour, thous. sacks (100 Ib.)
Millfeed, thous. sh. tons
Grindings of wheat, thous. bu
Stocks held by mills, end of period, thous. sacks
(1001b.)
Exports, thous. metric tons
Producer Price Index, 6/83=100

97.3

97.8

104.0

88.9

81.2

88.4

91.6

93.1

96.1

97.5

94.2

91.8

92.2

87.2

85.2

82.1

107.3

111.7

118.1

100.3

94.9 i

103.9

104.8

106.4

102.7

108.0

103.0

104.1

104.9

102.9

102.0

362,311
6,436

365,491
6,537

29,152

29,112

30,415

33,468
601
75,864,

31,122
548

33,815
595
76,465

31,732
566
70,702

28,752
518
64,350

808,966

521
65,859

551
68695

822,391

521
65,806

5,660

5,662

945

107.4

24,982

26,492

70.514

5,662

6,083

109.2

111.0

6,120
104.9

104.3

107.5

'104.1

POULTRY AND EGGS
Poultry:
Slaughter, mil. Ib
Stocks, cold storage (frozen), end of period, total,

mil.lb

2,328

2,287

1,015
662

1,096
734

perlb
Eggs:
Production on farms, mil. cases §
Stocks, cold storage, end of period:
Shell, thous. cases §
Frozen, mil. Ib
Price, wholesale, large (delivered; Chicago), $ per
doz

579
264

651
272

808
487

.295

Turkeys, mil. Ib
Price, in Georgia producing area, live broilers, $

.305

.305

192.2

195.9

16.4

920
580

1.032J
684

2,260

2,351
1,073
715

678
321

.330
15.8

16.4

16.4|

16.0

16.7

16.4

2,207

2,029

2,328

'2,311

651
272

694
315

736
360

734
359

825
424

.305

2,166

.300

.305

.310

16.9

16.6

15.1

16.8

2,214
r

866
474

968
558

.330

.355

.350

16.3

16.7

r

6
15
.520

.714

.560

.530

579

.649

.582

.657

.775

7
14

.709

LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves, thous. animals
Cattle, thous. animals
Prices, wholesale:
Beef steers, $ per 100 Ib.
Steers, stocker and feeder, $ per 100 Ib.
Calves, vealers (So. St. Paul), dollars
Hogs:
Slaughter (federally inspected), thous. animals
Prices:
Wholesale, average, all weights (Sioux City), $
per 100 Ib
Hog-corn price ratio (bu. of corn equal in value
to 100 Ib. live hog)
Sheep and lambs:
Slaughter (federally inspected), thous. animals
Price, wholesale, lambs, avg. (San Angelo, TX),
$ per 1001b.*

1,398
31,887

1,336
32,094

103
2,688

105
2,863

106
2,802

107
2,721

107
2,748

111
2,793

109
2,490

121
2,632

101
2,601

97
2,411

116
2,712

96
2,623

85,952

92,613

6,897

7,166

7,461

7,494

8,217

8,599

7,796

8,142

7,649

6,921

7,958

7,840

21.4

20.0

18.1

18.8

19.1

20.4

19.4

39.9

20.7

21.2

20.5

22.1

22.3

21.1

5,504

5,290

374

419

427

400

470

452

413

460

381

384

476

461

39,584
662

40,796
615

3,236

3,423
665

3,442
646

3,407
596

3,560
613

3,656
638

3,288
627

3,435
615

3,306
649

3,013
652

3,397
652

3,299
698

666

23,223
292

23,267
278

1,925
310

2,064
306

2,039
300

2,004
295

2,019
281

2,039
298

1,807
282

1,881
278

1,845
292

1,698
285

1,884
299

1,804
287

275

362
6

343

16,000
311

17,185
315

1,287
345

1,332
319

1,375
307

1,378
267

1,511
297

1,588
307

1,455
317

1,524
315

1,435
329

1,290
342

1,481
329

1,465
378

'373

355

114.6

108.3

104.3

105.4

108.4

107.3

108.9

112.9

115.1

116.9

109.7

109.6

110.6

109.7

108.5

108.3

92.0

82.2

70.3

380

396

305

332

375

390

386

24.2

MEATS
Total meats (excluding lard):
Production, mil. Ib
Stocks, cold storage, end of period, mil. Ib
Exports (meats and meat preparations), thous.
metric tons
Imports (meats and meat preparations), thous.
metric tons
Beef and veal:
Production, total, mil. Ib
Stocks, cold storage, end of period, mil. Ib.
Exports, thous. metric tons
Imports, thous. metric tons
Price, wholesale, beef, fresh steer carcasses,
choice (600-700 lbs.)(Central U.S.), $ per Ib
Lamb and mutton:
Production, total, mil. Ib
Stocks, cold storage, end of period, mil. Ib
Pork (excluding lard):
Production, total, mil. Ib
Stocks, cold storage, end of period, mil. Ib
Exports, thous. metric tons
Imports, thous. metric tons
Prices:
Producer Price Index, hams and picnics, except
canned, 12188=100 *
Fresh loins, 8-14 Ib. average, wholesale
(Omaha), $perlb.*

29

MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans, imports (including shells),
thous. metric tons
Coffee:
Imports, total, metric tons
From Brazil, metric tons
U.S. Import Price Index, 1990=100
Fish:
Stocks, cold storage, end of period, mil. Ib.
See footnotes at end of tables.




89.4

89.4
384

396

81.0
3611

320

316

323

SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes; below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1963-91

Annual
1991

July 1993

1992
1992

May

June

July

Aug.

•

S-23

1993
Sept.

Oct.

Nov.

Dec.

Jan.

111.1
119.0

109.6
118.0

Feb. |

Mar.

Apr.

May

Juna

113.9
118.7

111.1
118.5

112.4
1174

168.8

170.7

168.1

148.2
127.9
123.6

148.2
127.9
123.6

11. FOOD AND KINDRED PRODUCTS; TOBACCO-Continued
MISCELLANEOUS FOOD PRODUCTS-Continued
Sugar:
Exports, raw and refined, metric tons
Imports, raw and refined, thous. metric tons
Producer Price Indexes
Raw (cane), 1982=100
Refined, 1982=100 .

113.7
121.6

112.1
119.8

111.4
119.9

110.6
120.0

111.0
120.0

111.7
120.4

112.7
119.6

113.6
119.2

112.8
119.2

' 109.7
'117.6

1121
118.3

Tea, imports, metric tons
TOBACCO
Leaf:
Production (crop estimate), mil. Ib
Stocks, dealers' and manufacturers', end of period,
mil. Ib
Exports, incl. scrap and stems, metric tons
Imports, incl. scrap and stems, metric tons
Manufactured products:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt, millions
Taxable, millions
Cigars (large), taxable, millions
Exports, cigarettes, millions

1,664

1

1,684

3,744

3,740

193,778
516,338
2,133

199,238
510,494
2,107

3,276

13,896
39,012
165

17,461
51,667
217

3,740

3,565

15,071
38,331
168

22,490
43,718
185

21,738
42,972
194

24,306
44,712
178

19,519
44,221
190

19,195
38,419
172

165.1

164.0

16&1

3,678

12. LEATHER AND PRODUCTS
LEATHER
Exports:
Upper and lining leather thous sq ft
Producer Price Index, leather, 1982=100

168.4

163.7

167,386

167,803

3

116,310
42,963
8,113
2,449

116,314
43,329
8,160
1,889

3

141.0
124.0
115.2

145.0
126.4
121.2

163.9

164.0

164.7

163.7

164.8

166.6

169.0

168.9

LEATHER MANUFACTURES
Footwear:
Production, total, thous. pairs
Shoes, sandals, and play shoes, except athletic,
thous pairs
. .
Slippers, thous. pairs
Athletic, thous. pairs
Other footwear, thous. pairs

44 401

29,006
3
10,129
3
2,053
3
577

40,221

42,223

29,320
13,079
2 002
457

41,188

28,173
9,691
2,357
361

31,006
8,701
2,516
454

Exports thous pairs
Producer Price Indexes:
Men's leather upper, dress and casual,
1982=100
Women's leather upper, 1982=100
Women's plastic upper, 1982-100

143.7
126.4
120.4

143.7
126.6
121.5

145.2
126.5
121.5

146.1
126.7
121.5

146.1
126.9
122.9

145.1
126.5
122.9

145.2
126.5
123.5

147.2
127.0
123.5

147.5
127.4
123.5

'146.9
127.8
123.9

147.7
127.9
123.9

147.7
127.8
124.0

13. LUMBER AND PRODUCTS
LUMBER-ALL TYPES #
[Millions of board feet, unless otherwise indicated]
National Forest Products Association:
Production total
Hardwoods
Softwoods
Shipments, total
Hardwoods
Softwoods
Stocks (gross) mill end of period total
Hardwoods
Softwoods
ExDorts total sawmill oroducts
mports total sawmill products thous cubic meters

43,976
10,213
33,763

45,444
11,210
34,234

3,632
931
2,701

3,911
960
2,951

3,882
996
2,886

3,746
959
2,787

3,736
947
2,789

4,048
998
3,050

3,617
907
2,710

3,425
905
2,520

3,486
820
2,666

3,608
869
2,739

'3,904
1,057
'2,847

3,689
968
2,721

43,860
9.844
34,016

45.703
11,005
34,698

3,565
869
2,696

3,936
899
3,037

3,884
921
2,963

3,878
910
2,968

3,692
908
2,784

4,147
1,039
3,108

3,745
933
2,812

3,491
917
2,574

3,511
847
2,664

3,602
841
2,762

'3.785
993
'2,792

3,499
939
2,560

4"616

4,206

4,731

4,678

4,606

4,418

4,419

4,365

4,263

4,206

4,211

4,187

4,240

4,407

8,009
504
7 908
7,957
723

7,921
579
7,810
7,850
690

617
465
644
694
669

739
532
659
676
745

599
492
642
639
748

646
461
630
677
701

675
496
654
640
715

718
523
703
691
111

608
506
629
625
731

677
579
563
604
690

541
525
601
594
696

601
499
637
627
706

754
560
737
693
750

622
517
684
665
769

475
416
623
576
816

139.6

169.5

167.8

161.8

167.0

170.9

176.6

177.5

186.3

201.6

'230.3

250.3

265.9

247.2

SOFTWOODS
[Millions of board feet, unless otherwise indicated]
Douglas fir:
Orders, new
Orders, unfilled, end of period
Production
Shipments
Stocks (gross) mill end of period
Exports, total sawmill products, thous cubic meters
Sawed timber, thous. cubic meters
Boards, planks, scantlings, etc., thous. cubic
meters
Producer Price Index, Douglas fir, dressed,
1982=100
See footnotes at end of tables.




172.1

230.5

O - z 4 • July 1993

SURVEY OF CURRENT BUSINESS
Annual

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1963-91

1991

1993

1992
1992

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

957
1.076

Jan.

Feb.

Mar..

May

Apr.

June

13. LUMBER AND PRODUCTS-Continued
SOFTWOODS-Continued
[Millions of board feet, unless otherwise indicated]
Southern pine:
Orders, new
Orders, unfilled, end of period
Production
Shipments
Stocks (gross), mill and concentration yards, end of
period
Exports, total sawmill products, cubic meters
Producer Price Index, southern pine, dressed,
1982=100

14,370
957

12,287
571
12,367
12,415

1.035
684
1,067
1.024

1,264
741

1,376
800

13,812
14,041

1,170
1,205

1,228
1,315

2,134

1,931

2,158

2,125

2,043

1.397

1,193

948
708
1,143
1,109

1,251

1,241
931
1,108
1,152

1,959

1,990

1,957

1,913

1,249
859
1,115

839
1,215

962
906

1,055

1,025
852
1,115
1,137

1,345
1,023
1,169
1,158

"1,151
"1,128

1,045
941

1,931

1,911

1,920

1,941

2,050

155.1

-165.5

184.0

184.2

171.5

699
532

629
451
706
710

576
412
619
586
1,090

1.076

111.0

130.6

134.2

126.4

123.5

127.9

136.3

129.9

131.4

Western pine:
Orders, new
Orders, unfilled, end of period
Production
Shipments
Stocks (gross), mill, end of period

9,535
493
9,510
9,525
1,196

9,385
504
9,244
9,374
1,064

746
441
790
774
1,274

891
471
832
863
1,200

690
442
743
719
1,224

520
765
810
1,179

737
482
746
775
1,150

499
858
876
1,132

782
502
730
779
1,083

675
504
653
672
1,064

766
562
707
708
1,063

729
1,028

1,024

687
422
747
715
1,056

Producer Price Index, other softwood, dressed,
1982=100

130.0

157.3

167.9

159.6

153.8

147.7

150.4

148.8

153.7

168.0

181.4

' 209.4

232.8

230.1

211.1

191.6

15.8
199.9
7.7

22.4
222.5
5.5

14.7
16.5
8.2

M4.7
18.5
'7.0

14.7
17.3
7.0

14.1
20.1
7.5

15.8
21.1
6.3

16.7
19.5
5.7

21.2
17.4
5.6

22.4
18.9
5.5

22.9
18.4
5.3

21.2
17.7
4.1

21.7
21.2
4.1

21.7
18.2
3.4

21.3
18.1
4.1

17.2
21.1
4.2

348
909
2

354
716
4

335
851
3

359
818
7

416
742

320
773

1,535
103
94

838
130
26

1,380
133
120

1,186
107
127

1.46"
109
24

157.8

HARDWOOD FLOORING
[Millions of board feet]
Oak:
Orders, unfilled, end of period
Shipments
Stocks (gross), mill, end of period

14. METALS AND MANUFACTURES
IRON AND STEEL
[Thousands of short tons]
Exports:
Steel mill products
Scrap
Pig iron

6,346
10,301
17

Imports:
Steel mill products
Scrap
Pig iron

15,741
1,183
479

16,974

369
969
2

376
775
2

297
937
1

336
645
2

332
987
3

341
956
3

355
817

1,408
545

1.425
165
21

1,394
90
61

1,390
90
37

1,438
144
56

1,383
124
25

1,386
144
67

1,614
127
72

1,364
120
40

21,300
35,773
57,828
4,250

21,167
40,219
63,764
3,910

1,704
3,415
5,432
4,170

1,825
3,493
5,371
4,188

1,761
3,215
5,059
4,187

1,731
3,320
5,211
4,132

1,734
3,451
5,273
4,192

1,707
3,666
5,468
4,079

1,539
3,437
5,277
4,002

1,667
3,424
5,286
3,910

91.79

84.67

85.90

83.72

83.66

83.95

84.32

83.00

82.67

85.49

96.91

104.80

104.98

101.76

102.49

55,516
54,967
13,335

55,513
56,529
12,503

5,133
6,056
1,564

4,624
5,941
1,453

4,771
6,049
1,282

4,630
6,186
1,175

4,993
4,859
1,335

4,538
5,291
1,583

4,180
5,069
1,130

4,276
4,890
717

4,391

4,171

2,170
639

1,222
684

4,559
2,618
446

4,673
5,593

5,289
6,556

65,133
63,658
4,045
25,445

66,711
68,552
5,057
22,856
3,783
16,092
2,981

6,997
5,823
540
21,501
10,236
9,161
2,104

7,565
5,588

7,273
5,669
628
23,046

6,225
5,414
493
22,735
5,976
15,040
2,923

6,453
5,763
555
23,190
5,227
15,731

5.913
22
"18,995
10,927
8,175
1,537

6,088
5,778
420

21,539
6,075
13,154
2,310

2,122
5,570
2
20,824
9,030
9,707
2,087

2,938

9,896
7,081
2,019

8,632

2,938

5,827
5,572
383
23,433
4,344
15,985
3,104

5,813
5,776
440
22,856

2,514

6,765
5,672
526
21,721
6,438
13,925
2,834

3,013

708
22,492
9,027
11,157
2,308

52,224
51,103
217

4,444
4,307
222

4,232
4,162
211

4,347
4,255
216

4,299
4,258
224

4,065
4,063
220

5,329
4,056
226

4,268
4,482
216

4,306
4,466
217

4,503

4,503

4,454

4,328

4,555

214
" 7,398
"5,497

7,832
5,935

'262
"139

258
128

4,289
10,142
36

1

Iron and Steel Scrap
[Thousands of metric tons, unless otherwise indicated]
Production
Receipts, net
Consumption
Stocks, end of period
Composite price, No. 1 heavy melting scrap:
American Metal Market, $ per metric ton
Ore
[Thousands of metric tons]
Iron ore (operations in all U.S. districts):
Mine production
Shipments from mines
Imports
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
Consumption at iron and steel plants
.'
Exports (domestic)
Stocks, total, end of period
At mines
At furnace yards
At U.S. docks

4,853
17,611
2,981

7,763
12,769

3,783
16,092
2,981

5,951
240

782

Manganese (manganese content), general imports
Pig Iron and Iron Products
[Thousands of short tons, unless otherwise indicated]
Pig iron:
Production (including production of ferroalloys)
Consumption, thous. metric tons
Stocks, end of period, thous. metric tons
Castings, gray and ductile iron:
Shipments, total
For sale
Castings, malleable iron:
Shipments, total

For sale
See footnotes at end of tables.




48,503
44,638

July 1993 •

SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1963-91

Annual
1991

1992
1992

May

June

July

Aug.

S-25

1993
Sept.

Oct. |

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

14. METALS AND MANUFACTURES-Continued
Steel, Raw and Semifinished
[Thousands of short tons, unless otherwise specified]
Steel (raw):
Production
Rate of capability utilization, percent

7,968
83.5

7,584
82.1

76,625

6,751

7,105

6,305
5,518
6,579

563

571
470
588
47

12,219
5,229
4,781
1,147

1,062
579
354
124

563
450
414
36
1,155
637
380
132
382
79
392
3,390
1,079
1,082

7,526
78/

7,249
78.3

7,742

7,449
80.4

7,438
77.7

7,942
81.6

7,942
84.8

8,148
87.0

7,926
87.4

8,278

6,786

7,545
78.9

6,934

7,090

6,512

6,572

6,976

6,867

7,886

7,344

7,301

580
472
575
32
1,106
518
416
113
335
73

555
504
578
31

533
539
611
29
1,151
617
403
126

548
470
541
42
1,070
554
407
105
352
50
328
3,171
1,125

570
467
591
56
1,144
628
388
123
370
65
326
3,387
1,081
1,078

552
468
581
58
1,170
619
426
120
365
71
312
3,290
1,094
965

636
496
694

1,144
606
409
123

513
478
546
30
1,043
533
391
113
361
57
301
3,182
1,079
998

618
445
663
57
1,152
654
364
127
391
82
340
3,596
1,160
1,062

617
468
616
67
1,184
628
424
126
365
70

87,896
74.2

92,949
82.2

'957
'864

896

78,868
6,872
5,722
6,938
486

Bars and tool steel, total
Bars: Hot rolled (including light shapes)
Bars: Reinforcing
Bars: Cold finished

13,214
6,902
4,934
1,326

Pipe and tubing
Wire-drawn and/or rolled
Tin mill products
Sheets and strip (including electrical), total
Sheets: Hot rolled
Sheets: Cold rolled

4,488
864
4,040
36,244
12,987
11,356

3,645
815

364
75

3,927
39,521
13,211
12,760

351
3,221
1,042
1,035

17,485
6,814
2,261
9,445
837
1.648
4,278
36,100

16,669
7,172
2,466
10,697
890
1,646
3,968
35,130

12.9
7.5
5.4

12.6
7.2
5.3

13.1
7.5
5.6

12.7
7.4
5.3

12.9
7.3
5.6

12.9
7.3
5.6

5.9

5.9

5.9

5.8

6.0

5.4

4,121
2,210

4,042
2,284

342
203

330
190

339
190

340
189

1,024.7
256.5

1,155.4
305.8

96.3
26.0

87.8
26.0

82.4
30.0

792.8
508.7

603.1
553.8

33.6
49.9

39.8
52.4

.5946

.5752

15,298
11,667
7,501
1,905

16,064
12,547
8,009

3,913

Steel castings:
Shipments, total
For sale, total
Steel Mill Products
[Thousands of short tons]
Steel products, net shipments:
Total (all grades)
Byproduct:
Semifinished products
Structural shapes (heavy), steel piling
Plates
Rails and accessories

By market (quarterly):
Service centers and distributors
Construction, incl. maintenance
Contractors' products
Automotive
Rail transportation
Machinery, industrial equipment, tools
Containers, packaging, ship, materials
Other

555
478
637
36
1,139
581
437
115
338
78
344
3,087
1,017
1,007

354
3,259
1,090
1,029

4,872
1,897
607
2,901
250
433
1,100
8,965

340
71

381
71

323
3,388
1,140
1,127

313
3,461
1,128
1,108

190
413
1,038
8,747

2

337
3,576
1,102
1,057
2

5,301
1,786
578
3,047
262
454
1,026
9,070

4,918
1,780
613
2,608
200
386
889
8,559

1,714
1,798
633
2,532

1,203
658
398
142
398
82
374
3,928
1,306
1,168

1,768
2
648
2
203
2
1,040
2
90
2
164
2
346
2
3,013

1,753
2
677
2
210
2
1,060
2
98
2
150
2
354
2
2,854

[Millions of short tons]
Producing steel mills, inventory, end of period:
Total
Steel in process
:
Finished steel
Steel service centers (warehouses), inventory, end of
period

12.5
7.0
5.5

12.5
7.1
5.4

12.6
7.2
5.3

12.7
7.4
5.3

12.8
7.5
5.3

'12.2
7.1
5.1

12.0
7.0
5.2

12.0
6.9
5.1

5.8

5.8

5.9

5.9

5.9

5.8

5.8

6.0

330
191

343
197

355
176

347
171

335
171

292
166

323
184

103.4
25.9

94.3
25.9

108.4
25.9

100.5
26.0

96.8
25.9

120.8
30.6

123.9
24.7

50.0

50.3
46.9

40.4
46.4

82.1
45.5

50.5
41.2

73.5
28.4

54.8
46.4

38.6
43.2

.5842

.5982

.5965

.5815

.5373

.5276

.5553

.5613

.5550

.5353

.5184

.5225

1,277
1,085
703

1,339
1,075
682

1,330
1,073
693

1,333

1,361
1,061
678

1,453

1,030

1,333
978
628

1,360
944
614

1,302
964
587

1,314
978
601

1,496
'1,125
690

'1,330
'1,103

1,282
1,066
660

52,298

4,487

4,484

4,335

4,378

4,339

4,265

4,133

4,360

4,265

'4,371

'4,458

1,631.1

1,760.5

1,577.4
417.8

1,720.6
1,197.6
523.0
433.2

151.3
134.5
91.2
43.3
36.7

149.1
139.0
93.5
45.5
39.4

155.2
153.4
106.5
46.9
27.8

152.0
145.2
101.9
43.2
35.4

152.0
149.1
105.0
44.1
39.8

151.5
151.5
102.4
44.4
40.0

150.0
145.8
102.4
43.4
34.3

154.2
155.4
108.9
46.5
35.8

134.5
140.2
103.0
37.2
38.1

132.4
128.1
87.1
41.0
45.9

'147.8
157.2
110.3
'46.0
38.9

150.6
153.3
107.7
46.0
37.8

442.0
288.6

509.6
289.1

37.6
25.3

46.2
26.1

45.0
24.7

37.6
25.3

All
24.0

32.5
19.6

32.4
20.3

44.2
20.8

31.7
21.8

40.5
25.6

44.0
28.2

679.7
263.2

556.8
176.9

2,058
132

2,183
204

30.5
11.7
189
116

43.2
12.0
199
115

38.4
9.3
173
132

48.1
13.0
163
154

51.2
13.6
188
165

42.7
24,1
189
166

66.3
14.1
167
172

64.4
16.1
158
204

38.3
14.0
192
203

45.9
24.9
'184
'195

59.4
23.6
'208
'190

191
203

1.0933

1.0742

1.0493

1.0910

1.1865

1.1714

1.1250

1.0515

1.0139

1.0354

1.0540

1.0365

1.0050

.9342

12.6
7.0
5.6

NONFERROUS METALS AND PRODUCTS
[Thousands of metric tons, unless otherwise specified]
Aluminum:
Production, primary (dom. and foreign ores)
Recovery from scrap
Imports:
Metal and alloys, crude
Plates, sheets, bars, etc
Exports:
Metal and alloys, crude
Plates, sheets, bars, etc
Price, U.S. market, 99.7% purity, monthly average,

$perlb.
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.), mil. Ib
Mill products, total, mil. Ib
Sheet and plate, mil. Ib.
Castings, mil. Ib
Inventories, total (ingot, mill products, and scrap),
end of period, mil. Ib
Copper:
Production:
Mine, recoverable copper
Refined from primary materials
Electrolytically refined @
Electrowon
Refined from scrap
Imports, unmanufactured
Refined, unrefined, scrap (copper cont.)
Refined
Exports:
Refined and scrap
Refined
Consumption, refined (reported by mills, etc.)
Stocks, refined, end of period
Price, avg. U.S. producer cathode, delivered, $ per
/b.§
See footnotes at end of tables.




1,136.2

441.2

649

.5378

S-26 • July 1993

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1963-91

1992

Annual
1991

1992

My
a

June

July

Aug.

1993
Sept.

Oct. I

Nov.

Dec.

Jan.

Feb. |

33.3
71.1
14.8
' 108.9

Apr.

Mar.

May

June

30.5
78.6
107.8

14. METALS AND MANUFACTURES-Continued
NONFERROUS METALS AND PRODUCTSContinued
[Thousands of metric tons, unless otherwise specified]
Copper-base mill and foundry products, shipments
(quarterly total):
Brass mill products, mil. Ib
Copper wire mill products (copper content), mil. Ib.
Brass and bronze foundry products, mil. Ib
Lead:
Production:
Mine, recoverable lead
Recovered from scrap (lead content)
Imports, ore (lead content)
Consumption, total
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content), ABMS
Refiners' (primary),' refined and antimonial (lead
content)
Consumers' (lead content) 0
Scrap (lead-base, purchased), all smelters
(gross weight)
Price, common grade, delivered, $ per Ib. @@
Tin:
Imports (for consumption):
Ore (tin content), metric tons
Metal, unwrought, unalloyed, metric tons
Recovery from scrap, total (tin content), metric tons
As metal, metric tons
Consumption, total, metric tons
Primary, metric tons
Exports (metal), metric tons
Stocks, pig (industrial), end of period, metric tons ..
Price, Straits quality (delivered), $ per Ib

1

465.9
883.7
128.9
1,246.3

393.7
887.8
196.0
1,210.8

64.2
9.1
72.0

20.5
65.0

16.8
.3348

15.9
.3510

29,102
12,949
234
49,000
36,900

27,314
6,099
208
43,900
33,400

970
3,024
3.6285

32.4
72.3
16.3
103.5

33.8
71.1
15.6
94.8

65.5

67.9

28.9
62.6

26.5
63.3

13.3
.3427

31.7
74.3
17.1
92.9

32.5
77.5
18.7
106.6

33.3
79.6
19.9
105.4

30.8
76.9
22.0
98.2

69.7

67.8

68.3

69.4

64.0

64.2

61.8

60.9

26.6
68.6

22.3
65.6

17.7
65.3

15.0
61.6

14.8
63.2

20.5
65.0

28.1
"66.7

33.3
65.8

13.1
.3453

16.5
.3633

17.3
.3869

19.2
.3849

18.9
.3591

15.1
.3307

17.0
.3247

13.6
.3215

3,319
562
17
3,800
2,800
186
2,651
4.3167

2,896
470
17
3,800
2,800
121
3,111
4.5323

3,058
551
18
3,500
2,800
144
3,321
4.4188

1,625
529
17
3,600
2,900
199
3,454
4.3420

1,512
519
18

1,889
37,603
4.0236

1,877
543
17
3,700
2,700
113
2,901
4.0270

3,600
2,900
179
3,654
3.9800

1,790
504
17
3,400
2,700
101
3,178
3.8000

1,977
472
17
3,300
2,600
110
3,221
3.8100

517.8

520.1

40.7

40.4

46.2

49.1

47.6

36.2

40.4

45.4
549.1

44.6
644.7

2.3
50.3

2.0
39.7

4.7
52.2

6.8
55.7

2.5
53.1

2.1
58.4

2.6
58.4

2.4
252.8

2.4
253.2

.2
21.1

.2
21.1

.2
21.1

.2
21.1

.2
21.1

194.4
902.0
5.5

209.5
1,030.0
6.0

17.3
76.0
.6

17.7
76.9

16.5
83.0
.6

17.4
84.5
.5

18.1
87.0
.5

4.6
38.9
.5277

7.3
38.5
.5838

5.7
39.5
.6317

4.8
45.4
.6375

4.5
36.9
.6239

4.5
39.5
.6495

3.8
37.5
.6537

404.0
87.9
133.3

319.6
59.1
79.5

135.1

152.9

153.2

186.1

138.6

141.3

143.4

154.7

146.4

142.2

160.1

135.0

179.3

107.5

116.1

112.8

118.1

125.1

128.2

119.7

112.3

114.3

117.8

116.7

115.9

119.0

.9552

.9852

.9648

1.0221

.9408

.9708

1.0024

1.0526

195.9

199.8

199.5

199.8

199.5

199.3

199.4

199.2

199.8

200.5

201.0

201.4

87.9
99.3

91.9
101.3

89.5
95.9

96.7
105.0

90.9
104.0

90.0
98.5

96.7
101.5

99.2
106.3

86.5
95.3

88.9
103.5

92.7
103.8

96.4
109.1

112.8
127.5

102.3
112.3

99.1
107.0

1,893.95
1,549.20
1,871.80
1,595.35
1,186.2

1,756.35
1,531.75
1,917.80
1,605.05
1,024.7

109.35
96.50
124.40
100.30
1,212.2

145.50
124.75
161.15
139.80
1,196.6

154.60
142.70
133.10
110.10
1,218.1

91.50
74.80
131.70
107.25
1,177.9

204.70
163.90
199.70
165.70
1,182.9

119.00
102.20
142.40
117.25
1,159.5

122.30
112.15
137.45
120.55
1,144.4

240.85
123.25
269.50
208.60
1,024.7

127.10
106.40
166.90
146.65
984.9

211.90
"198.55
181.45
150.30
1,015.4

242.80
223.00
223.10
199.40
1,035.1

"251.60
" 246.00
"190.40
"169.50
"1.096.3

265.40
260.60
156.90
138.70
1,204.8

748.15
546.35
801.65
624.60
250.9

725.90

49.80
37.60
45.10
33.40
263.8

65.95
50.20
78.30
62.80
251.5

50.75
37.40
50.90
44.10
251.3

68.75
60.85
39.75
33.15
280.3

71.15
61.60
54.30
49.10
297.2

87.75
81.65
55.25
40.90
329.7

39.00
30.95
74.35
68.30
294.3

56.35
48.65
52.00
43.75
298.7

48.45
34.65
82.00
72.85
265.1

70.75
47.80
" 64.50
"46.65
271.4

89.30
80.80
94.75
84.05
265.9

" 96.70
64.35
r
63.25
"51.10
"299.4

51.90
40.65
79.85
59.00
271.4

Zinc:
Mine prod., recoverable zinc
Imports:
Ores (zinc content)
Metal (slab, blocks)
Consumption (recoverable zinc content):

Ores
Scrap, all types
Slab zinc:
Production, total ±
Consumption, fabricators
Exports
Stocks, end of period:
Producers', at smelter (ABMS)
Consumers'
Price, high grade, $ per Ib

31.5
73.3
15.7
96.0

32.5
77.7
14.3
104.8

1

4

3

61.0

66.7

14.4
.3152

.3141

.3156

2,089
524

1,850
545

2,913
425

3,400
2,700
233
3,368
3.9000

3,500
2,700
164
3,429
3.8400

3,600
" 2,900
234
"3,607
3.7800

42.2

48.0

M2.5

1.6
48.5

4.6
49.3

3.7
51.9

.2
21.1

.2
21.1

.2
21.1

.2
21.1

.2
21.1

18.6
93.0
.5

16.9
80.6
.5

17.4
80.0
.5

17.4
84.0
.6

16.8
'•88.0
.5

18.5
105.0

4.4
36.0
.5596

4.9
37.6
.5000

7.3
38.5
.5012

7.1
37.7
.5052

5.4
'41.8
.5090

4.5
37.1
.4726

66.9

68.3

422
3,600
2,900
3,702
3.7400

3.7400

46.4

17.2

4.7

5.4

.4811

MACHINERY AND EQUIPMENT
[Millions of dollars, unless otherwise specified]
Industrial heating equipment, new orders (domestic),
qtrly#
Electric processing heating equipment
Fuel-fired processing heating equipment
Materials handling equipment, dollar value bookings
index, 1982=100
Industrial supplies, machinery, and equipment:
New orders index, seas, adj., 1987=100
Industrial suppliers distribution:
Sales index, not seas, adj., 1990=1.00
Inflation index, not seas. adj. (tools, material
handling equipment, valves, fittings, abrasives,
fasteners, metal products, etc.), 1977=100
Fluid power products shipments indexes:
Hydraulic products, 1990=100
Pneumatic products, 1990=100
Machine tools:
Metal cutting type tools:
Orders, new (net), total
Domestic
Shipments, total
Domestic
Order backlog, end of period
Metal forming type tools:
Orders, new (net), total
Domestic
Shipments, total
Domestic
Order backlog, end of period
See footnotes at end of tables.




678.15
547.10
298.7

68.5
14.1
11.4

86.5
15.8
26.7

91.3
15.7
28.3

21.0
22.6

.9751

117.8

1.1370

r

109.0
120.3

SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, i%3-9i

1992

Annual
1991

July 1993

1992

May

June

July

Aug.

•

S-27

1993
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

14. METALS AND MANUFACTURES-Continued
MACHINERY AND EQUIPMENT-Continued
Tractors used in construction, shipments, qtrly:
Tracklaying (ex. shovel loaders), units
Tracklaying (ex. shovel loaders), mil. $
Wheel (contractors' off-highway), units
Wheel (contractors' off-highway), ml $
Shovel loaders, units
Shovel loaders, mil. $

7,423
988.7
2,609
244.5
56,094
1,854.5

ELECTRICAL EQUIPMENT
[Thousands]
Batteries (auto.-type replacement), shipments
Radio sets, factory sales, domestic market U
Television sets (incl. combination models), production,
total market +?
Household major appliances, industry shipments #
Air conditioners (room)
Dishwashers
Disposers (food waste)
Microwave ovens/ranges
Ranges
Refrigerators
Freezers
Washers
Dryers, including gas
Vacuum cleaners (qtrly.)

66,585
18,530

65,347
21,552

4,770
1,344

5,557
1,524

5,526
1,783

6,099
1,929

6,696
2,813

6,731
2,556

6,052
2,100

5,677
1,624

4,451
1,440

4,773
1,384

6,224
1,632

5,165
1,393

4,973
1,353

19,649
40,997
2,807
3,571
4,002
7,234
3,309
7,273
1,414
6,197
4,313
10,970

21.304
44,306
2,839
3,820
4,196
8,390
3,576
7,760
1,677
6,514
4,719
11,681

1,619
3,846
557
293
304
650
270
657
132
495
356

1,869
4,035
380
321
416
628
301
788
176
553
388
2,702

1,402
3,671
243
300
311
620
281
813
205
486
340

1,933
3,664
106
310
389
736
289
660
166
575
394

2,448
3,855
5
329
458
787
305
716
135
625
449
2,894

2,046
3,837
24
346
331
903
346
691
160
582
434

1,902
3,448
22
359
295
754
335
595
138
534
399

1,932
3,618
104
370
401
627
343
643
136
540
425
3,172

1,673
3,021
134
285
342
499
259
449
78
516
413

1,632
3,392
236
307
333
559
276
529
121
534
406

2,109
4,873
478
378
428
709
338
636
130
675
494
3,365

1,537
3,648
453
317
320
495
305
615
119
506
379

1,599
3,561
440
304
273
473
278
643
112
527
362

2,119
4,306
536
335
424
553
322
830
158
608
415

2,057
2,401
3,936

2,107
2,617
4,241

142
209
335

166
224
339

176
204
308

195
193
316

224
224
338

236
257
370

180
250
374

162
267
418

165
180
383

158
198
375

158
247
418

149
214
367

173
195
328

226

GAS EQUIPMENT (RESIDENTIAL)
[Thousands]
Furnaces, warm air, shipments
Ranges, total, shipments .
Water heaters (storage), automatic, shipments

15. PETROLEUM, <
:OAL, AND PRODUCTS
COAL
[Thousands of short tons, unless otherwise specified]
Anthracite:
Production
Exports, thous. metric tons
Producer Price Index, 1982=100

3,445

3,542

274

287

305

337

311

322

321

306

174

170

185

191

334

392

105"6

105.8

105.2

105.2

105.4

105.5

106.0

106.0

105.7

105.8

105.8

105.8

105.8

105.8

105.4

105.4

992 539

996 708

80 210

79 981

80 768

84 401

83,555

86 265

80 240

83 021

79 361

75 340

83 762

80,822

75,124

82,607

97.1

94.9

94.9

95.9

95.2

95.0

95.0

95.6

94.7

96.4

95.5

94.8

95.1

94.7

94.0

93.7

24,046
41,493

23,410
43,599

£692

5,850
3,737

3,866

3,656

5,837
3,569

3J533

3,540

5,831
3,877

3,708

3,445

3,826

3,643

2,107
1,856
252
1 953

1,883
1,616
267
1 925

2,354

2 027
1 755
271
2,267

2,212

2,170

2,055
1,784
271
2,289

1,796

1,865

1,883
1,616
267
1,925

£o99

2,119

2,142

2,106

Crude petroleum:
Producer Price Index, 1982=100
Gross input to crude oil distillation units
Refinerv ODeratino ratio % of caoacitv

• 61.9
4,930.4
86

58.0
4,978.0
88

59.2
429.4
89

64.3
428.6
92

61.9
439.5
92

60.5
423.1
89

63.1
416.6
91

63.4
423.2
89

58.5
413.9
90

53.8
415.4
88

52.0
408.5
87

'56.1
368.5
87

58.1
419.6
89

57.6
413.2
91

58.0

53.0

All oils, supply, demand, and stocks:
New SUDDIV total 0
Production:
Crude petroleum
Natural gas plant liquids

6129 8

61791

519 9

507 4

540 6

525 0

510 5

543 4

505 4

522 6

533 8

472 3

537 4

521 6

2,707.0
639.2

2,624.7
668.0

222.2
55.2

215.0
54.0

221.1
56.7

214.6
54.4

210.9
54.4

220.9
58.9

210.7
58.5

220.2
59.4

217.2
69.7

194.8
55.7

216.3
63.0

206.9
60.2

2,275.6
508.0
-3.7
6 465 7

2,406.8
479.8
-24.9
6 581 3

201.6
40.9
19.4
538 5

199.6
38.8
.7
5381

228.3
34.5
16.6
560 2

215.6
40.4
1.1
549 2

203.3
42.0
14.8
531 6

222.5
41.1
4.7
568 8

196.8
39.3
-4.5
542 6

199.4
43.6
-43.8
5941

211.3
35.6
19.6
541 1

187.3
34.4
-16.2
5157

218.6
39.5
-11.6
577 8

214.1
40.3
27.7
5321

42.4
322.8

32.5
314.8

3.3
24.2

3.2
25.5

1.7
27.1

4.1
20.3

2.0
23.3

3.3
24.7

3.3
26.5

3.4
35.0

4.0
25.5

4.6
18.9

4.3
23.2

2.2
26.0

Bituminous and lignite:
Production
Consumption, total
Electric power utilities
Industrial, total
Coke plants (oven and beehive)
Residential and commercial
Stocks, end of period, total
Electric power utilities
Industrial, total
Oven-coke plants
Exports excluding lignite, thous metnc tons
Producer Price Index, 1982=100

772,315

158,004

r

COKE
[Thousands of short tons, unless otherwise specified]
Production:
Beehive and oven (byproduct)
Petroleum coke §
Stocks, end of period:
Oven-coke plants, total
At furnace plants
At merchant plants
Petroleum coke
Exports thou metric tons
PETROLEUM AND PRODUCTS
[Millions of barrels, unless otherwise specified]

Crude and unfinished oils
Refined products
Change in stocks, all oils
Product demand total
Exports:
Crude petroleum
Refined products
See footnotes at end of tables.




b-Zo

• July 1993

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1963-91

Annual
1991

1992
1992

May

June

July

Aug.

1993
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

|

Mar.

Apr.

May

June

15. PETROLEUM, COAL, AND PRODUCTS-Continued
PETROLEUM AND PRODUCTS-Continued
[Millions of barrels, unless otherwise specified]
All oils, supply, demand, and stocks—Continued
Domestic product demand, total #
Gasoline
Kerosene
Distillate fuel oil
Residual fuel oil
Jet fuel
Lubricants
Asphalt
Liquefied petroleum gases
Stocks, end of period, total
Crude petroleum
Strategic petroleum reserve
Unfinished oils, natural gasoline, etc
Refined products
Refined petroleum products:
Gasoline (incl. aviation):
Production
Stocks, end of period
Prices, regular grade (excl. aviation):
Producer Price Index, 1982=100
Retail, U.S. city average (BLS):
Leaded, $ per gal.
Unleaded, $ per gal.
Aviation gasoline:
Production
Stocks, end of period
Kerosene:
Production
Stocks, end of period
Producer Price Index (light distillate), 1982=100
Distillate fuel oil:
Production
Imports
Stocks, end of period
Producer Price Index (middle distillate),
1982=100
Residual fuel oil:
Production
Imports
Stocks, end of period
Producer Price Index, 1982=100
Jet fuel:
Production
Stocks, end of period
Lubricants:
Production
Stocks, end of period
Asphalt:
Production
Stocks, end of period
Liquefied petroleum gases:
Production, total
At gas processing plants (L.P.G.)
At refineries (L.R.G.)
Stocks (at plants and refineries)

492.2
199.9
2.6

550.3
230.1
106.7
33.0
46.3
5.1

59.4

102.4
31.6
41.7
4.0
6.5
54.0

8.6
59.2

503.9
222.6
M.O
92.1
32.1
41.8
4.7
12.2
44.8

1,592.0
892.9
574.7
150.3
549.1

1,611.4
901.0
575.3
162.9
547.5

1,595.1
907.1
575.8
162.8
525.2

1,583.6
914.7
577.6
166.7
502.1

1,611.3
930.8
581.7
166.5
514.0

220.1
178.2

230.3
179.1

222.7
197.0

199.4
201.7

211.0

211.1
184.7

76.1

75.3

69.8

66.7

-66.3

67.2

69.3

1.136

166.1
642.3

85.3
31.6
41.7
5.7
15.8
44.4

509.3
224.7
.3
80.4
30.3
43.1
4.8
20.8
46.7

531.4
237.5
1.7
84.0
30.6
44.4
4.5
20.3
47.8

1,617.0
893.
568.5
147.1
576.7

1,592.0
892.9
574.7
150.3
549.1

1,602.4
912.0
568.5
152.7
537.7

1,603.1
894.6
569.5
156.9
551.6

1,619.7
902.2
569.5
156.0
561.5

1,620.8
898.3
570.1
154.8
557.7

1,635.6
893.5
571.4
163.0
579.1

1,640.3
906.2
573.6
162.0
572.1

1,635.8
899.4
574.0
158.3
578.1

2,554.0
183.3

2,591.0
179.1

220.7
187.4

216.7
189.5

223.9
182.0

212.2
168.2

212.9
170.0

223.6
168.7

78.8

75.8

6,234.0
2,667.9
16.0

511.0

537.1
53.4

1,090.3
400.6
532.1
54.5

162.2
616.3

6,100.6
2,631.7
16.9
1,066.1
422.6

69.2

227.9
.6

73.3

()

524.8

229.7
.5
83.9
29.2
49.1
4.4
21.8
46.7

506.3
221.1
.6
87.2
26.6
43.2
4.6
20.8
48.6

540.9
228.0
1.0

94.7
34.4
45.9
4.4
18.1
58.8

512.7

555.8

511.6

213.5

229.9

1.0
87.9
31.2
45.8
4.2
11.1

1.2
102.8
40.7
48.1
3.6
7.1
67.7

209.4
2.0

62.9

1.140

1.127

1.136

1.175

1.158

1.158

1.154

1.159

8.0
1.6

7.9
1.6

.8
1.6

.7
1.4

.9
1.6

.9
1.6

1.7

.5
1.7

.4
1.6

.6
4.1
63.5

1.3
3.9
66.5

.9
5.2
64.2

1.1
5.8
64.2

1.6
6.0
65.8

1.8
6.2
63.1

89.8
4.7

100.8
8.2
136.8

97.2

7.1
122.8

89.5
7.1
127.8

103.0
31.6
45.4
4.6
4.5

1.6

1.108

1.6

.5
1.9

.7
1.8

.6
1.8

1.6
5.7
60.1

2.3
5.3
59.0

1.8
4.5
-59.7

1.5
4.6
60.5

.7
3.9
59.1

7.1
146.3

7.1
140.6

90.2
5.6
130.2

78.8
6.3
109.4

90.5
7.3
97.5

90.3
6.3
98.3

14.8
5.7
61.2

3.8
61.2

1,081.0
74.8
143.5

1,088.4
79.2
140.6

90.9
5.6
96.4

104.5

95.1
5.3
114.6

65.2

61.6

62.1

65.4

64.6

63.3

65.6

68.2

64.2

59.4

59.0

60.4

63.3

341.1
165.4
49.9
49.1

326.7
137.2
42.6
45.9

29.9
10.2
41.2
43.7

26.8
10.0
40.9
46.8

26.0
8.7
39.7
45.5

25.3
10.7
43.6
49.2

24.3
10.5
47.3
53.7

25.4
11.6
45.0
49.5

26.9
12.3
46.5
53.6

26.7
14.9
42.6
56.2

25.4
11.9
44.2
49.6

23.5
9.1
42.1
51.6

25.4
10.9
40.7
48.0

26.6
11.3
41.4
54.1

525.0
48.8

512.0
43.1

43.2
45.2

41.2
44.6

45.7
46.4

45.6
45.4

43.4
47.8

43.6
47.4

43.7
46.2

45.3
43.1

44.5
41.0

40.4
42.3

45.3
41.4

41.7
41.3

57.0
12.3

57.5
13.3

4.5
11.1

4.4
10.6

10.9

5.1
11.6

4.7
11.8

4.8
12.0

4.7
12.3

4.9
13.3

4.8
13.5

4.5
13.7

5.1
13.4

4.6
13.0

156.8
22.3

153.0
17.7

14.1
31.9

15.7
27.5

16.41
24.2

16.5
19.5

16.9
16.3

14.6
13.4

11.6
14.8

9.2
17.7

22.1

8.6
25.3

11.6
29.1

12.4
30.9

683.1
487.5
195.6
92.3

738.7
499.7
222.2
88.7

65.3
42.2
23.1
99.7

63.1
40.8
22.2
109.7

64.8
41.51
23.3
120.4

62.5
40.3
22.2
131.8

56.6
39.6
17.0
132.9

85.4
42.7
16.0
125.4

55.6
42.5
13.1
109.2

57.3
44.0
13.4
88.7

57.0
43.7
13.3
75.0

53.6
40.3
13.3
66.3

40.7
45.6
19.7
66.6

43.6
43.6
21.0
80.6

8,796
8,882
5,069

r

PULPWOOD
[Thousands of cords (128 cu. ft.)]

96,659
98,242
5,688

103,373
104,598
5,314

8,331
8,693
5,594

8,711
8,861
5,484

9,048
9,209
5,373

8.765
8,924
5,358

8,924
8,781
5,551

9.188
8,992
6,056

8,221
8,720
5,667

8,980
9,280
5,314

8,697
9,076
4,948

8,865
8,850
5,372

8,761
8,790
5,181

22,845
1,113

25,355
1,057

2,076
1,056

2,095
1,090

2,057
1,112

2,118
1,078

2,132

2,181
1,110

2,182
1,031

2,139
1,147

2,294
1,046

2,092
1,010

2,321
1,055

63,636
1,370
51,768
6,404
4,094

65,342
1,383
53,358
6,501
4,100

5,320
110

5,417
127

5,419
129
4,408
543
339

5,409
89

4,350
531
337

4,415
573
332

5,310
127
4,268
583
333

5,458
102
4,468
548
340

5,684
129

4,433
521
335

5,711
115
4,676
558
363

5,318
101

4,343
521
347

4,635
563
357

5,044
109
4,129
495
311

5,410
124
4,435
518
334

219
518
451

236
480
438

240
570
385

230
507
423

225
596
399

245
676
388

228

710
374

220
727
366

214
850

194
882
407

218
922
419

194
938
406

205
862
450

WASTE PAPER
[Thousands of short tons]
Consumption
Inventories, end of period

1,131

WOODPULP
[Thousands of short tons]
Production:
Total
Dissolving pulp
Paper grades chemical pulp
Groundwood and thermo-mechanical
Semi-chemical
Inventories, end of period:
Producers' own use
Producers' market
Consumers' purchased
[Thousands of metric tons]
Exports, all grades, total
Dissolving and special alpha
All other
Imports, all grades, total
Dissolving and special alpha
All other
See footnotes at end of tables.




60.6

59.9

63.3

16. PULP, PAPER, AND PAPER PRODUCTS

Receipts
Consumption
Inventories, end of period

71.6

1.130

.5
1.7

14.0
5.8
65.9

4.9 J

69.6

61.4

53.1

51.6

July 1993 •

SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS STATISTICS, 1963-91

1992

Annual
1991

May

1992

June

July

Aug.

S-29

1993
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

16. PULP, PAPER, AND PAPER PRODUCTS-Continued
PAPER AND PAPER PRODUCTS
[Thousands of short tons, unless otherwise specified]
Paper and board:
Production (API):
Total
Paper
Paperboard

79,499
39,082
40,416

riooucer rnce moexes.
Paperboard, 1982=100
Building paper and board, 1982=100
Selected types of paper (API):
Groundwood paper:
Orders, new
Orders, unfilled, end of period
Shipments
Coated papers:
Orders, new
Orders, unfilled, end of period
Shipments

82,376
40 407
41,968

6,706
3,201
3,505

6,821
3,295
3,526

6,941
3 403
3,538

6,950
3,457
3^492

6,950
3415
3/160

7,007
3 519
3A89

6,793
3 324
3>69

6,905
3318
3,587

7,092
3 452
3^640

6,541
3206
3335

7,195
3 546
3^649

'6,918
' 3 460

3J458

6,960
3 388
3',572

130.2
111.8

134.3
119.6

134.3
119.1

134.3
118.9

134.2
118.8

134.6
120.0

135.9
123.7

135.7
123.5

133.9
121.8

133 6
121.7

133.0
124.9

r
131,6
'129.0

131.7
133.5

131.1
136.3

129.9
134.2

1 717

1,690

140
229
124

131
257
123

155
274
140

150
263
139

166
316
129

164
350
144

113
161
150

128
167
139

168
178
150

125
165
134

147
156
153

'175
'188

159
208
143

220

167

1,716

1,642

7,342

7,881

145

129.3
132.0

591

881
7,851

642
664
625

640
665
655

666
707
668

686
696
661

653
686
685

702
733
685

601
832
662

665
881
662

658
839
648

622
879
603

670
855
687

'719
'925

7,358

649

692
926
683

11,497
11,504

11,994
11,874

906
926

991
957

1,090
1,032

1,040
1,032

993

1,033
1,038

886
920

1,036

969

1,086
1,032

'959

1,022

959

' 1,061
1,035

'1,111
1,068

963
972

.

2,280

2,380

Tissue paper, production ....

5,669

5,784

193
480

193
470

189
456

202
497

189
493

198
497

210
493

178
482

192
495

185
467

207
531

190
482

173
508

8,976
8,728

8,932
9,145

695
766
507

692
754
445

752
724
472

741
785
429

842
874
397

794
786
405

790
844
351

'809

'402

743
734
410

829
844

351

783
815
578

810
760

593

'395

'436

812
832
416

6,206
6,152

6,425
6,464

98

59

513
516
59
963
917

1,002

501
509
60
916

541
528
72

1,087

886

864

530
537
59
990
938

558
548
68
942

938

542
545
62
953
921

538
539
60

11,634

552
565
65
976
955

536
544
65

816

519
526
78
941
865

570
556
73

11,380

530
539
85
980
850

'•9,303

'8,938

'935
'9,271

'1,007
'8,941

8,790

120.9

109.9

108.3

106.6

106.6

106.7

109.5

109.2

110.6

109.6

110.4

'111.2

113.7

113,5

112.8

112.8

320,106

332,648

26,856

'•28,652

28,886

27,898

27,956

30,517

25,532

25,530

28,119

26,333

29,913

30,372

27,950

29,302

Uncoated free sheet:
Orders, new
Shipments
Unbleached kraft papers:
Shipments

[Thousands of metric tons, unless otherwise specified]
Newsprint:
Canada:
Production
Shipments from mills
Inventory, end of period
United States:
Production
Shipments from mills
Inventory, end of period
Estimated consumption, all users <
>
Publishers' stocks, end of period #
Imports
Producer Price Index, standard newsprint,
1982=100
Paper products:
Shipping containers, corrugated and solid fiber
shipments, mil. sq. ft. surf, area

768

535
514
93
949

17. RUBBER AND RUBBER PRODUCTS
RUBBER
[Thousands of metric tons, unless otherwise specified]
Natural rubber
Consumption
Stocks, end of period
Imports, incl latex and guayule
U.S. Import Price Index, 1985=100

107 3

105 6

108 3

1012

106 0

202,390
256,875
48,582
188,303
18,998

230,250
273,539
53,436
199,543
20,543

18,874
23,492
5,039
16,841
1,612

19,380
24,170
4,723
17,662
1,784

17,273
21,910
3,282
16,964
1,665

20,306
23,472
4,507
17,171
1,795

19,975
24,589
4,518
18,152
1,919

21,602
25,514
5,158
18,580
1,778

18,384
22,596
4,503
16,517
1,577

17,501
21,162
4,154
15,459
1,549

20,037
20,009
4,716
13,618
1,675

19,872
21,235
5,014
14,457
1,854

21,900
25,547
5,924
17,825
1,799

20,464
23,232
5,229
16,149
1,854

20,348
23,213
5,315
16,188
1,710

35,533

40,392

40,576

40,201

39,918

40,654

39,789

40,090

39,916

40,392

43,859

45,993

46,795

48.337

49,414

Synthetic rubber
Production
Consumption
Stocks, end of period
Exports (Bureau of Census)
TIRES AND TUBES
[Thousands]
Pneumatic casings:
Production
Shipments, total
Original equipment
Replacement equipment
Exports
Stocks, end of period
Exports (Bureau of Census)
Inner tubes:
Exports (Bureau of Census)
See footnotes at end of tables.




S-30 • July 1993

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as
Shown in BUSINESS STATISTICS, 1963-91

Annual

1992
1992

1991

May |

June

July

Aug.

1993
Sept.

Oct.

Nov.

Dec.

32,259

28,216

Jan.

Mar.

Feb.

Apr.

May

June

18. STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement, thous. bbl

'415,203

1

440,666

40,482

44,625

43,913

43,700

44,239

47,001

21,474

22,882

30,587

120.1

"120.8

120.9

121.8

122.2

1,147
1,298

1,513
1,335

'3976
9,762
9,762
1,365
7,725
672

'778
8,512
8,512
1,248
6,575
689

'792
'7,320
'7,320
'1,049
'5,570
'701

CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face), mil. standard
brick
Structural tile, except facing, thous. sh. tons
Sewer pipe and fittings, vitrified, thous. sh. tons ...
Floor and wall tile and accessories, glazed and
unglazed, mil. sq. ft.

5.404.8

5,847.7
(2)
152.8

1,554.5

1,667.5

195.6

38.2

38.6

36.8

429.8

471.7

118.1

122.9

116.5

116.2

118.0

1,350,658

1,528,698

281,111
277,657

287,737
284,274

23,986
25,188

24,730
26,269

25,138
26,181

25,247
25,056

23,477
57,141
84,304
24,038

26,939
54,414
88,805
26,054

2,292
5,259
7,936
2,301

2,668
5,592
7,851
2,616

2,506
5,231
8,426
2,419

74,683

73,346

6,190

6,364

12,816
1,198
44,058

13,144
1,572
45,914

1.113
48,145

1,030
148
46,215

14,760
14,688

1
15,853
'15,981

1,164
1,201

7,917

745

5,469

446

'20,177
11
452
247
12,730
5,186
85

1,466
1
31
31
914
370
7
66
47

Producer Price Index, brick and structural clay tile,
12/84=100

117.8

118.3

118.6

118.5

1,432.0

118.9

119.0

23,313
24,206

25,041
24,146

22,559
20,823

2,924
4,757
7,506
2,459

2,649
4,617
7,279
2,022

2,420
4,245
7,523
2,040

1,575
3,652
6,719
1,945

1,604
3.598
7,304
1,845

6,531

6,098

6,511

6,775

5,817

5,491

915
153
45,297

1,149
163
45,407

1,003
125
44,327

1,031
112
45,069

1,018
97
46,646

1,035
102
45,914

1.320
1,321

1,404
1,423

1,390
1,395

1,411
1,399

1,502
1,461

1,411
1,289

1,230
1,181

948

675

562

605

592

525

515

481

456

490

1,706
1
39
37
1,062
435
7
70
54

1,908
1
45
40
1,204
480
7
72
58

1,661
1
38
38
1,032
415
7
80
51

1,603
1
39
19
1,028
388
7
72
50

1,550
1
35

12,599

14,945

122.5

20.343
20,979

119.0

GLASS AND GLASS PRODUCTS
[Thousand gross, unless otherwise specified}
Flat glass, mfrs.1 shipments, thous. $
Glass containers:
Production
Shipments, total
Narrow-neck containers:
Food
Beverage
Beer
Liquor and wine
Wide-mouth containers:
Food and dairy products
Narrow-neck and wide-mouth containers:
Medicinal and toilet
Chemical, household, and industrial
Stocks, end of period

391,358

97

390,868

368,092

GYPSUM AND PRODUCTS
[Thousands of short tons]
Production:
Crude gypsum (exc. byproduct)
Calcined

1
1

1

Imports, crude gypsum
Sales of gypsum products:
Uncalcined
.
•

'5,272

Calcined:
Industrial plasters
Building plasters, total (incl. Keene's cement)

1

749

597

485

659
344

332

1,600
1
37
18
1,027
390

1,773
1

6
71
52

6
71

8

[Millions of square feet]
Board products, total
Lath
Veneer base
Gypsum sheathing
Regular gypsum board
Type X gypsum board
Predecorated wallboard
5
/ie mobile home board
Water/moisture resistant board

7,634

1

18,317
12
396
227
11,286
5,033
85
670
608

829
637

1,806
1

39
40
1,147
437
8
78
55

1,826
1
40
41
1,150
445

19
979
400
7
61
50

42
19
1,139
436

58

19. TEXTILE PRODUCTS
FABRIC
[Millions of linear yards]
Woven fabric, finishing plants:
Production (finished fabric)
Cotton
Manmade fiber and silk fabrics
Inventories held at end of period
Cotton
Manmade fiber and silk fabrics
Backlog of finishing orders
Cotton
Manmade fiber and silk fabrics
COTTON AND MANUFACTURES
[Thousands of running bales, unless otherwise
specified]
Cotton (excluding linters):
Production:
Ginnings 0
Crop estimate, thous. net weight bales §
Consumption
Stocks in the United States, total, end of period #
Domestic cotton, total
On farms and in transit
Public storage and compresses
Consuming establishments
See footnotes at end of tables.




17,146
17,614
'

6

8,695
13,579
13,579
1,924
11,075
580

14

15,786
16,218
^9,614
13,875
13,875
2,032
11,252
591

752
5.953
5,953
268
5,057
628

3

885
4.504
4,504
140
3,723
641

682
3,552
3,552
83
2,806
663

451
''776
18,282
18,282
15,426
2,227
629

1,674
3

' 950
16,958
16,958
14,016
2,395
547

7,595
'799
16,166
16,166
9,124
6,535
507

'756
15,153
15,153
4,627
10,015
511

3

' 792
13,875
13.875
2.032
11,252
591

15,546
'788
12,623
12,623
1,892
10,114
617

'796
11,360
11,360
1,622
9,108
630

3

960
5,987
5.987
819
4,477
691

SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

STATISTICS, 1963-91

1992

Annual
1991

July 1993

1992

May

June

July

Aug.

•

S-31

1993
Sept.

Oct.

Nov.

Dec.

Jan.

Mar.

Feb.

Apr.

May

June

19. TEXTILE PRODUCTS-Continued
COTTON AND MANUFACTURES-Continued
Cotton (excluding linters)—Continued
Exports, thous. running bales
Imports, thous. net weight bales
Price(farm), American upland, cents per Ib. 0
Price, Strict Low Middling, Grade 41, staple 34
(11/i6"), average 10 markets, cents per Ib
Spindle activity (cotton system spindles):
Active spindles, last working day, total, millions
Consuming 100 percent cotton, millions
Spindle hours operated, all fibers, total, billions
Average per working day, billions
Consuming 100 percent cotton, billions
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, thous. net weight
bales §

2

56.8

6

53.5

53.2

58.0

56.3

53

53.1

53.6

52.5

54.4

52.8

53.7

55.5

54.3

'53.2

53.1

56.7

7

54.1

55.4

58.8

60.9

57.6

53.5

49.5

50.0

51.8

53.7

55.4

56.4

56.2

56.4

54.4

9.:
3.7
60.4
.231
24.3

3.5
59.6
.225
24.8

3.8
4.8
.240
2.0

8.6
3.
5.6
4
.226
4
2.3

3.
4.;
.21;
1.8

3.
4.6
.231
2.0

3.6
5.5
4
.220
4
2.3

8.4
3.5
4.6
.23;
2.0

3.5
4.3
.214
1.8

3.5
4.5
1
.181
4
1.9

3.4
43
.216
1.8

3.4
4.4
'.222
1.8

8.1
3.4
5.4
" 4 .217
4
2.3

8.1
3.4
4.
".213
1.8

8.0
3.3
4.4
'.219
1.8

8.0
3.3
5.1
4
.206
4
2.1

4,404

4,600

116.0

115.7

115.7

3

Producer Price Index, gray cotton broadwovens,
1982=100

4

1,172

4

1,130

117.3

116.8

4

117.3

117.2

4

1,158

1,144

117.2

4

117.0

115.0

'116.8

MANMADE FIBERS AND MANUFACTURES
[Millions of pounds]
Fiber production, qtrly:
Cellulosic filament yarn
Rayon staple, including tow
Noncellulosic, except textile glass:
Yarn and monofilaments
Staple, incl. tow
Textile glass fiber

213.2
273.3

219.8
275.1

60.5
70.5

54.7
68.4

52.0
69.6

52.9
67.9

4,282.3
3,984.1

4,448.8
4,123.9

1,119.8
1,045.5

1,135.3
1,026.6

1,129.7
1,043.1

1,110.1
1,018.4

Fiber stocks, producers', end of period:
Cellulosic filament yarn
Rayon staple, including tow
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
Staple, incl. tow

10.4
27.0

12.2
34.5

12.2
33.4

13.1
29.8

12.2
34.5

12.5
23.0

351.1
333.7

309.3
333.3

310.8
336.2

316.0
326.4

309.3
333.3

293.1
353.8

Manmade fiber and silk broadwoven fabrics:
Producer Price Index, gray synthetic broadwovens,
1982=100

115.5

120.9

122.0

137.2
14.4

136.1
14.7

86.5
18.2
68.2

89.3
23.8
65.5

35.1
3.6
6.2
2.0
4.2

1.58

1.81

1.99

1.93

1.88

1.88

1.73

1.55

1.55

1.45

1.35

1.20

1.14

1.19

1.24

2.42

2.42

2.68

2.56

2.24

2.20

2.02

2.05

2.03

1.96

1.86

1.80

1.68

1.89

1.79

169.6

176.3

1,255.7

1,356.6

" 9 18,565
"161,320!
' 10,404
' 93,093

19,316
"157,898
'9,432
"91,701

'315,314
" 37,894

"349,542
' 37,944

122.6

122.0

121.7

120.8

119.4

119.9

119.6

"119.1

118.9

120.0

118.4

WOOL AND MANUFACTURES
[Millions of pounds, unless otherwise specified]
Wool consumption, mill (clean basis):
Apparel class
Carpet class
Wool imports, clean yield f
Unimproved and other grades not finer than 46's ..
48's and finer
Wool prices, raw, shorn, clean basis:
Domestic—Graded territory, 64's, staple 2%" and
up, delivered to U.S. mills, $ per Ib
Australian, 64's, Type 63, duty-paid, price at
Australian Wool Corp., Charleston, SC, $ per Ib.
Wool broadwoven goods, exc. felts:
Production (qtrly.), mil. sq. yd.

33.6
3.1
3.9
1.7
2.1

35.2
4.9

31.1
3.4
7.8
2.5
5.2

11.0
2.5
7.9

48.4

39.5

FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other),
shipments, quarterly, mil. sq. yd

347.2

334.9

'42,106
"2,796
'23,380

'35,753
'2,040
'22,639

'34,440
'2,172
"20,309

'88,268
'9,435

'98,635
'9,589

"82,073
'8,752

APPAREL
[Thousands, unless otherwise indicated]
Women's, misses', juniors' apparel cuttings, qtrly:
Coats
Dresses
Suits (incl. pant suits, jumpsuits)
Skirts
Slacks, jeans, dungarees, and jean-cut casual
slacks
Blouses, thou. doz
See footnotes at end of tables.




()
44,636
()
22,615
1O

75,512
10,971

b-OZ

•

July 1993

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1991 and methodological notes are as shown
in BUSINESS

1992

Annual
1991

STATISTICS, 1963-91

1992

May

June

July |

Aug.

1993
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

19. TEXTILE PRODUCTS-Continued
APPAREL-Continued
[Thousands, unless otherwise indicated]
Men's apparel cuttings, qtrly:
Suits
Coats (separate), dress and sport
Trousers, slacks, jeans, pants, etc
Shirts, dress and sport, thous. doz
Hosiery, shipments, thous. doz. prs

- 9.506
- 13,683
'499,984
"91,868
326,378

r

r

r
2.428
-3,188
"127,446
-26,947
85,160

10,032
- 13,422

524,090

-108,557
320,494

4

-2,506
-3.074

-2,420
-3,587
-141,402
-27,319
79,367

2,372
3,514
110,580
26,284
77,879

-131,496
-26,615
78,989

20. TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
[Millions of dollars]
3

Orders, new (net), total
U.S Government
Prime contract
.

3

132,644
3
66 668
129,924

Sales (net), receipts, or billings, total
U.S. Government

3

134,578
3
66,710

Backlog of orders, end of period #
U S Government
Aircraft (complete) and parts
Engines (aircraft) and parts
Missiles, space vehicle systems, engines,
propulsion units and parts
Other related operations (conversions,
modifications), products, services

3

247,597
3
84,827
147,551
3
24,734

3

3

Aircraft (complete):
Shipments
.
Exports commercial

32,981

3

14,575

22,629

23,580

1,474

1,569

1,672

1,699

1,533

2,037

1,781

2,374

1,481

5.407
4.874
8.388
6.137
2.251

5.684
5,164
8,384
6,277
2,109

548
489
747
565
182
8.4
6.3
2.1

572
523
838
635
203
8.9
6.7
2.2

362
334
749
573
176
8.3
6.4
1.9

418
388
660
483
177
8.0
6.0
2.0

474
436
688
516
173
8.3
6.3
2.0

529
479
709
537
172
8.3
6.3
2.0

458
412
615
465
150
8.2
6.2
2.0

464
417
677
502
176
8.7
6.7
2.0

440
410
575
436
139
8.6
6.6
2.0

479
-455
606
466
140
8.0
6.0
2.0

596
538
749
582
168
8.3
6.3
1.9

-539
-492
783
607
176
8.9
6.8
2.1

545
493
827
640
188
9.1
6.9
2.2
1,465
-1,608
2.8

MOTOR VEHICLES (NEW)
[Thousands, unless otherwise specified]
Passenger cars:
Factory sales (from U.S. plants):
Total
Domestic
Retail sales, total, not seas, adj
Domestics §
Imports §
Total seas. adj. at annual rate, millions
Domestics millions §
.
Imports millions §
Retail inventories, domestics, end of period: §
Not seasonally adjusted
Seasonally adjusted
Inventory-retail sales ratio, domestics

.

ExDorts (Bureau of Census^ total
To Canada
Imports (ITC) complete units
From Canada total
Registrations 0, total new vehicles
Imports, including domestically sponsored
Trucks and buses:
Factory sales (from U.S. plants):
Total
Domestic
Retail sales:
Total, not seasonally adjusted *
0-10,000 lbs. GVW, domestics
0-10,000 lbs. GVW, imports *
10,001 lbs. GVW and o v e r t
Total seasonally adjusted *
0-10 000 lbs GVW domestics
0-10 000 lbs GVW imports*
10,001 lbs GVW and o v e r t
Retail inventories, domestics, end of period:
Not seasonally adjusted
Seasonally adjusted @
Exports (BuCensus)
Imports (BuCensus), including separate chassis
and bodies
Registrations 0, new vehicles, excluding buses not
produced on truck chassis
Truck trailers and chassis, complete (excludes
detachables), shipments, number
Van type number
Trailer bodies (detachable), sold separately, number..
Trailer chassis (detachable), sold separately, number.

1.283
1,301
2.5

1,276
1,381
2.6

1,345
1,335
2.6

1,341
1,326
2.4

1,151
1,350
2.5

1,166
1,423
2.9

1,243
1,379
2.6

1,215
1,342
2.6

1,249
1,346
2.5

1,276
1,381
2.5

1,300
1.379
2.5

1.396
1,488
3.0

1,491
1,569
3.0

1,483
-1,612
2.8

3,736.5
1.196.0

3,574.7
1,200.4

293.1
111.3

290.4
122.1

260.4
71.6

257.0
82.4

289.0
102.7

324.3
99.2

325.8
98.2

326.7
103.2

268.6
86.9

308.5
110.6

355.8
139.7

8,054
3,105

692
257

837
312

754
287

611
261

711
293

642
249

593
221

639
237

618
233

548
197

3.375
3,038

4,042
3,683

365
331

368
334

232
212

330
306

344
319

411
373

352
317

364
323

342
321

381
350

467
428

416
375

413
374

4,156.0
3.594.6
319.2
242.2

4,737.5
4,232.7
229.9
274.7

424.4
381.0
21.3
22.1
397.5
355.0
20.4
22.1

459.3
415.9
19.4
23.9
411.9
370.7
19.0
22.2

410.4
365.4
20.8
24.2
368.2
326.7
19.1
22.4

406.8
366.8
17.7
22.2
405.8
368.6
14.5
22.7

408.4
367.3
17.4
23.7
389.3
348.4
17.2
23.7

424.3
379.9
17.6
26.8
457.8
415.1
17.4
25.3

374.8
338.3
16.0
20.5
424.3
381.3
18.7
24.2

394.7
351.4
18.1
25.2
405.1
363.8
17.5
23.9

341.8
306.9
14.8
20.1
422.5
380.3
18.5
23.7

371.6
333.2
16.5
21.9
429.3
383.9
20.3
25.1

481.5
433.1
18.9
29.5
429.3
384.8
17.6
26.9

492.1
444.8
16.7
30.6
469.3
424.8
16.5
28.0

516.2
471.7
16.4
28.1
468.2
424.5
15.9
27.9

985.5
1,008.5

1,086.5
1,111.3

1,169.5
1,126.1

1,140.1
1,090.4

1,000.6
1,073.5

994.6
1,067.4

996.0
1,058.2

1,047.1
1,046.4

1,081.0
1,046.5

1,086.5
1,111.3

1,154.9
1,138.1

1,237.9
1,210.0

1,304.3
1,253.9

1,276.6
1,253.7

1,236.7
1,191.3

4.345

-4,799

-414

482

436

389

446

392

384

407

385

353

434

467

459

122,477
84,626

175,045
135,708

15,174
11,859

16,060
12,468

13,731
10,423

15,887
12,467

15,684
12,262

16,373
13,197

14,026
11,018

14,168
11,032

14,457
11,226

14,328
10,993

17,506
13,653

15,959
11,819

24,491

22,817

1,836

1,729

1,423

1,429

1,644

1,436

1,724

2,239

1,895.

2,865

3,504

3,008

24,674
24.674
22,682
22,682
9,215
9,215

25,761
25,761
31,181
31,181
14,635
14.635-

[Number, unless otherwise specified]

Freight cars (revenue), class I railroads (AAR): £
Number owned end of period thousands
Capacity (carrying), total, end of month, mil. tons ..
Average per car tons
See footnotes at end of tables.




1,453
1,554
2.6

710
248

8,234
3,295

654
225

RAILROAD EQUIPMENT

Freight cars (new), for domestic use; all railroads and
private car lines (excludes rebuilt and export cars):
Shipments
Equipment manufacturers
New orders
Equipment manufacturers
Unfilled orders end of period
Equipment manufacturers

7.1
"2.0

356.1
140.7
700
238

'852
671
'180

5,962
5.962
8.354
8.354
15.367
15.367,

7,509
7,509
4,620
4 620
12,479
12,479

7,630
7,630
-9,786
- 9 786
14,635
14.635

8,145
8,145
11,928
11 928
18 418
18418

1,207.6
1,155.4

July 1993 •

SURVEY OF CURRENT BUSINESS

S-33

FOOTNOTES FOR PAGES S-l THROUGH S-32
Genera! notes for all pages:
r Revised,
p Preliminary,
e Estimated,
c Corrected.
© Copyrighted.

Page S-1
f Revised series. See Tables 2.8-2.11 in the July 1992 SURVEY for revised estimates for 1989-91.
Also see the article on the comprehensive revision of the national income and product accounts that
appears in the December 1991 issue of the SURVEY.
X 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.
0 Effective May 1993 SURVEY, the industrial production indexes have been revised back to 1986,
and are available upon request.

Page S-2
1. Based on data not seasonally adjusted.
0 See note "<0>"forp. S-1.
# Includes data not shown separately.
§ Revised series. Estimates in constant 1987 dollars will soon be available back to 1967.

Page S-3
§ Revised series. Estimates in constant 1987 dollars will soon be available back to 1967.
# Includes data for items not shown separately.
| Effective with the July 1993 SURVEY, data from the survey of "Manufacturers' Shipments, Inventories, and Orders" have been revised to reflect corrections to data, benchmarking the data to the 1991
Annual Survey of Manufactures, recalculation of new orders, and updating the seasonal adjustment
factors.

Address requests for data to:
Business Statistics Branch
Business Outlook Division (BE-52)
Bureau of Economic Analysis
U.S. Department of Commerce
Washington, DC 20230
202-606-5367

§§ Effective March 1992 SURVEY, the Construction Contracts Valuation Index has a new base year
of 1987. Data have been revised back to 1983 and are available upon request.
<> Written permission was granted by the owner of the copyright, American Appraisal Associates,
0
Inc., P.O. Box 664, Milwaukee, Wisconsin 53201-0664 prior to its reproduction in this publication.

Page S-8
1. Beginning with Feb. 1989 data, associations in conservatorship are excluded.
0 Home mortgage rates are under money and interest rates on p. S-14.
§ Data include guaranteed direct loans sold.
# Includes data for items not shown separately.
@ Data are for closed mortgage loans of thrift institutions insured by the Savings Association
Insurance Fund (SAIF)—FSLIC-insured institutions prior to Sept. 1989.
t Effective June 1993 SURVEY, estimates of wholesale sales have been revised back to January
1988 and wholesale inventories have been revised back to January 1989. Revised data and a summary
of changes appear in the report Combined Annual and Revised Monthly Wholesale Trade, January
1986 Through December 1992, BW/92-RV, available from the Bureau of the Census, Washington, DC
20233.
X Effective March 1993 SURVEY, retail trade data have been revised. Estimates of retail sales have
been revised back to January 1987 and inventories have been revised back to January 1988. Revised
data and a summary of changes appear in the report Combined Annual and Revised Monthly Retail
Trade, January 1983 Through December 1992, BR/92-RV, available from the Bureau of the Census,
Washington, DC 20233.

Page S-9

Page S-4
# Includes data for items not shown separately.
X 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.
f See note "f" for p. S-3.

Page S-5
@ Compiled by Dun & Bradstreot, Inc.
# Includes data for items not shown separately.
§ Ratio of prices received to prices paid (parity index).
X See note "X" for p. S-4.
| 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.
I t See note T tor p. S-3.

Page S-6
1. Based on data not seasonally adjusted.
§ For producer price indexes of individual commodities, see respective commodities in the Industry
section beginning p. S-19. All indexes subject to revision four months after original publication.
# Includes data for items not shown separately.
X Effective with the Feb. 1993 SURVEY, data have been revised back to Jan. 1988 and are available
upon request.

Page S-7
1. Computed from cumulative valuation total.
2. Index as July 1,1993: building, 449.6; construction, 488.9.
X Effective July 1993 SURVEY, data have been revised from 1988 forward. Effective July 1991
SURVEY, data were revised back to 1986. Effective July 1990 SURVEY, data were revised back to 1985.
Revised data are available from the Construction Statistics Division at the Bureau of the Census,
Washington, DC 20233.
# Includes data for items not shown separately.
§ Data for Mar., May, Aug., and Nov. 1990, and Jan., May, Aug., and Oct. 1991 are for five weeks;
other months four weeks.
# The fixed-weighted price index is a weighted average of the individual price index series used
to deflate the Value of New Construction Put in Place (VIP) series. In calculating the index, the
weights (the composition of current dollar VIP in 1987 by category of construction) are held constant.
Consequently, the index reflects only changes in prices. The implicit price deflator is a derived ratio of
total current to constant dollar VIP (multiplied by 100). It is the average of the individual price indexes
used in the deflation of VIP, but the prices are weighted by the composition of VIP each period. As a
result, the implicit price deflator reflects not only changes in prices, but also changes in the composition
of VIP, and its use as a measure of price change is discouraged. Effective July 1992 SURVEY, data
have been revised back to 1989.




# Includes data for items not shown separately.
<> Effective with the Jan. 1993 SURVEY, the seasonally adjusted labor force series have been revised
0
back to Jan. 1988. The Jan. 1993 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 1988-92 revision period will appear in the
Feb. 1993 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
<> See note "O" for p. S-9.
X The unemployment rates are the number of unemployed in each group as a percent of the civilian
labor force in that group.
§ Effective with the June 1993 SURVEY, the unadjusted and seasonally adjusted employment series,
and seasonally adjusted average weekly hours and average hourly earnings have been revised back
to April 1981. The unadjusted weekly hours and hourly earnings have been revised back to April 1991
effective with the June 1993 SURVEY, and April 1990 effective with the June 1992 SURVEY. In addition,
the seasonally adjusted aggregate employee-hours have been revised back to January 1972 effective
with the June 1993 SURVEY. Besides the usual benchmark revision, historical corrections were made
to the series for April 1981 through February 1991 based on the large benchmark revision of March
1991. These revisions adjust for the overcounts in the administrative data used to establish benchmark
levels. The June 1993 issue of Employment and Earnings contains an article that discusses the effects
of benchmark and post-benchmark revisions and the one-time historical corrections. All of the revised
historical series will be published in a BLS bulletin which is expected to be issued in July.

Page S-11
§ See note "§" for p. S-10.
X 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.
0 Production and nonsupervisory workers.

Page S-12
§ See note "o" for p. S-10.
O Production and nonsupervisory workers.
X Earnings in 1982 dollars reflect changes in purchasing power since 1982 by dividing by Consumer
Price Index. Effective Feb. 1993 issue of the SURVEY, this series has been revised back to 1988 to
reflect new seasonal factors for the CPI-W. Revised data are available upon request.
§§ Wages as of July 1,1993: Common, $20.03; Skilled, $26.20.
t Excludes farm, household, and Federal workers.

S-34 • July 1993

SURVEY OF CURRENT BUSINESS
Page S-13

# Includes data for items not shown separately.
§ 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).
I Covers the 50 States and the District of Columbia. Puerto Rico and the Virgin Islands are
excluded effective with Mar. 1993 SURVEY. Data in earlier SURVEYS incorrectly included both. 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).

Page S-14
1. Data are for fiscal years ending Sept. 30 and may include revisions not distributed to the months.
2. Weighted by number of loans.
3. Outstanding loans for mobile homes are included with other credit.
§ Effective June 1992 SURVEY, data have been revised to reflect new benchmark and seasonal
adjustments and are available from the Banking and Money Market Statistics Section of the Division
of Monetary Affairs at the Federal Reserve Board, Washington, DC 20551.
# Includes data for items not shown separately.
<> Excludes loans to commercial banks in the U.S.
X Rates on the commercial paper placed for firms whose bond rating is Aa or the equivalent.
U Courtesy of Metals Week.
@ Average effective rate
| Effective May 1993 SURVEY, the consumer installment credit series have been revised back to
1989 to incorporate new information and updated seasonal adjustment factors. These revisions are
available from the Mortgage and Consumer Finance Section, Mail Stop 93 at the Federal Reserve
Board, Washington, DC 20551.

Page S-15
1. Money market deposit accounts are included with savings deposits.
XX Includes ATS and NOW balances at all depository institutions, credit union share draft balances,
and demand deposits at thrift institutions.
0 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.

Page S-16
@ 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.
§ Number of issues represents number currently used; the change in number does not affect the
continuity of the series.
X For bonds due or callable in 10 years or more.
# Includes data for items not shown separately.
0 The March through August 1991 issues of the SURVEY showed month-end yields for 1991 rather
than monthly averages.

Page S-17
@ See note "@" for p. S-16.
# Includes data not shown separately.
0 Data include undocumented exports to Canada, which are based on official Canadian import
totals.

Page S-18
1. For month shown.
@ Effective with the March 1993 SURVEY, the export and import price indexes are on a 1990=100
base. Beginning with indexes for Jan. 1993,1990 trade weights are used.
# Includes data for items not shown separately.
§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled service.
1 The threshold for Class I railroad status is adjusted annually by the Interstate Commerce
Commission to compensate for inflation.
0 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.

PageS-19
1. Reported annual total; monthly or quarterly revisions are not available.
2. Figure suppressed because it did not meet Census publication standards.
3. Data are partially estimated for first three quarters of 1991 and are not available. Value for
4th quarter 1991 is based on partially estimated production data. Data for 1992 were not published
because they would have disclosed individual company operations.
4. Data withheld to avoid disclosing figures for individual companies.
# 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 1991 are reported quarterly.
0




Page S-20
1. Reported annual total; monthly or quarterly revisions are not available.
§ Data are not wholly comparable from year to year because of changes in classification.
@ Includes less than 500 electric generation customers not shown separately.

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.
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. 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.
6. Stocks as of Dec. 1.
§ Excludes pearl barley.
@ Quarterly data represent the 3-month periods Dec-Feb., Mar-May, June-Aug., and Sept.-Nov.
Annual data represent Dec.-Nov.
f Coverage for 21 selected States, representing approximately 85 percent of U.S. production.

Page S-22
§ Cases of 30 dozen.
* Series first shown in the Jan. 1991 SURVEY.

Page S-23
1. Crop estimate for the year.
2. Reported annual total; revisions not distributed to the months.
3. Effective with January 1993 SURVEY, data have been revised back to 1990, and are available
upon request.
# Totals include data for items not shown separately.

Page S-25
1. For month shown.
@ Includes domestic and foreign ores.
§ Source: Metals Week.

Page S-26
1. Reported annual total; monthly revisions are not available.
2. Less than 50 tons.
3. Break in comparability beginning Jan. 1,1991, because of a change in the Metals VVee/c pricing
series for zinc.
4. Monthly data not available for 1990 and 1991.
0 Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.
X Source for monthly data: American Bureau of Metal Statistics. Source for annual data: Bureau
of Mines.
# Includes data not shown separately.
@@ Price represents North American Mean.

Page S-27
# Includes data for items not shown separately.
§ Includes nonmarketable catalyst coke.
0 Includes small amounts of "other hydrocarbons and alcohol new supply (field production)," not
shown separately.
XX March, June, September, and December are five-week months. All others consist o ; four weeks.

Page S-28
1. Reported annual total; revisions not allocated to the months.
2. Beginning May 1991, the leaded gasoline price is not statistically valid for publication.
# Includes data for items not shown separately.

Page S-29
1. Series has been discontinued.
0 Source: American Paper Institute. Total U.S. estimated consumption by all newspaper users.
# Compiled by the American Newspaper Publishers Association.

Page S-30
1. Reported annual total; revisions not allocated to the months.
2. Figure suppressed because it did not meet Census publication standards.
3. Data cover five weeks; other months, four weeks.
4. Beginning Jan. 1989, sales of industrial plasters are included with building plasters.
5. Total for crop year, 1990/1991.
6. Average for calendar year.
# Includes data for items not shown separately.
0 Cumulative ginnings to the end of month indicated.
§ Bales of 480 lbs.

SURVEY OF CURRENT BUSINESS

Page S-31
1. Annual total includes revisions not distributed to the months.
2. Weighted average for crop year, Aug. 1-Jul. 31.
3. Spot market average for crop year, Aug. 1-Jul. 31.
4. For five weeks; other months, four weeks.
5. No price because the Australian market was shut down for the month of July.
6. Weighted average for Aug. 1992-March 1993.
7. Based on the average of Aug. 1992-June 1993.
8. Data withheld to avoid disclosing figures for individual companies.
9. Excludes "down and feather filled coats, jackets, and vests".
10. Excludes "sweatpants".
£> 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).
§ Bales of 480 lbs.
j The total may include some miscellaneous woo! imports.

Page S-32
1. Annual total includes revisions not distributed to the months.




July 1993 •

S-35

2. Production of new vehicles (thous. of units) for May 1993: passenger cars, 548; trucks and
buses, 422.
3. Data are reported on an annual basis only.
4. Beginning in 1992, data are available only on a quarterly-basis.
5. Beginning Jan. 1989, shipments of trailer bodies are included with trailer chassis to avoid
disclosure of data from individual firms.
6. Effective with the Dec. 1991 SURVEY, data have been revised back to 1988 and are available
upon request.
7. Data withheld to avoid disclosing figures for individual companies.
# 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
C
available, month-to-month comparisons are not strictly valid.
* Effective with the July 1992 SURVEY, seasonally adjusted retail sales for trucks and buses have
been revised back to 1989, and are available upon request.
| Includes some imported trucks over 10,000 lbs. GVW.
X Excludes railroad-owned private refrigerator cars and private line cars.
@ Effective with the Mar. 1993 SURVEY, seasonally adjusted retail inventories for trucks and buses
have been revised back to 1966, and are available upon request.

S-36 • July 1993

SURVEY OF CURRENT BUSINESS

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

1-5
5,6
7,8
8,9
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, clay, 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

33-35

Individual Series
Advertising
Aerospace vehicles
Agricultural loans
Air carrier operations
Air conditioners (room)
Aircraft and parts
Alcohol, denatured and ethyl
Alcoholic beverages
Aluminum
Apparel
Asphalt
Automobiles, etc
Banking
Barley
Battery shipments.
Beef and veal
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

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
13,14
21
27
22
8, 17, 20
3-5
15,16
26
30
2,4, 5
7
7
5
2, 3
21

Carpets
31
Cattle and calves
22
Cement
30
Chain-store sales, firms with 11 or more stores
9
Cheese
21
Chemicals
2-4,10-12,15,17,19, 20
Cigarettes and cigars
23
Clay products
2-4, 30
Clothing (see apparei)
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
Crudeoil
3,27
Currency in circulation
15
Dairy products
Debt, U.S. Government
Deflator, PCE
Department stores, sales, inventories
Deposits, bank
Dishwashers and disposers




5, 21
14
1
9
13,15
27

Disposition of personal income
Distilled spirits
Dividend payments
Drugstores, sales
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)

1
20
1,15
8,9
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
Flour, wheat
22
Fluid power products
26
Food products
2-6, 8,10-12,15, 17, 20-23
Foreign trade (see also individual commodities)
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
Help-wanted advertising index
Hides and skins
Hogs
Home loan banks, outstanding advances
Home mortgages
Hotels, motor hotels, and economy hotels
Hours, average weekly
Housefumishings
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

2, 6, 20
28
30
19
14
5, 21, 22
9
30
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

Labor force
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 vehicles
2-4, 6, 8, 9,15,17, 32
National parks, visits

18

Newsprint
New York Stock Exchange, selected data
Nonferrous metals
Oats
Oils and fats
Orders, new and unfilled, manufacturers'
Outlays, U.S. Government

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 (incl. 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, clay, glass products
Sugar
Sulfur
Sulfuricacid
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
Truck trailers
Trucks

8, 27
12,16,18,32
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
14
2,6,7,15,16,20
27
9
5

Wages and salaries
Washers and dryers
Water heaters
Wheat and wheat flour
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc

1,12
27
27
21,22
2,3,5, 8,10-12
28
31
26