Full text of Survey of Current Business : June 1954
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JUNE
U. S. DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
1954
SURVEY
OF C U R R E N T
BUSINESS
No. 6
J U N E 1954
D E P A R T M E N T OF C O M M E R C E
FIELD SERVICE
Albuquerque, N. Mes.
204 S. 10th St.
Los Angeles 15, Calif.
1031 S. Broadway
Atlanta 5, Ga.
50 Seventh St. NE.
Memphis 3, Tenn.
229 Federal Bidy.
Boston 9, Mass*.
U. S. Post Office and
Courthouse Bldg.
Miami 32, Fla.
36 NE. First St.
Buffalo 3, N. Y.
117 ESlicott St.
PAGE
THE BUSINESS SITUATION .
1
Cheyenne, Wyo.
307 Federal Office Bldg.
Business Capital Investment in Third
Quarter of 1954
Charles ton 4, S, C.
Area 2,
Sergeant Jasper Bldg.
6
Chicago 1, III.
226 W. Jackson Bird.
U. S. Balance of Payments
Reflect Economic Improvement Abroad . .
if
if
8
if
SPECIAL ARTICLES
Cincinnati 2, Ohio
755 U. S. Post Office
and Custom House
Cleveland 14, Ohio
1100 Chester Ave.
Sales—Inventory Position of Retailers . , . . 12
Manufacturers' Orders and
Inventory Position
*
. . . , ,
*
17
if
MONTHLY BUSINESS STATISTICS . . S-l to S-40
New or Revised Statistical Series
Statistical Index
24
. . . . . . . Inside back cover
Published by the U. S. Department of Commerce, SINCLAIR WEEKS,
Secretary. Office of Business Economics, M. JOSEPH MEEHAN,
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Minneapolis 2, Minn.
607 Marquette Are.
New Orleans 12, La.
333 St. Charles Ave
New York 13, N. Y.
346 Broadway
Philadelphia 7, Pa.
1015 Chestnut St.
Phoenix, Ariz.
137 N. Second Ave.
Pittsburgh 22, Pa.
717 Liberty Ave,
Portland 4, Oreg.
520 SW. Morrison St.
Dallas 2, Tex.
1114 Commerce St,
Reno, Nev.
1479 Wells Ave.
Denver 2, Colo.
142 JNew Custom House
Richmond, Va.
400 East Main St.
Detroit 26, Mich.
230 W. Fort St.
St. Louis 1, Mo.
1114 Market St.
El Paso, Tex.
Chamber of Commerce
Bldg.
Salt Lake City 1, Utah
109 W. Second St. So.
Houston, Tex.
430 Lamar St.
San Francisco 11, Calif.
555 Battery St.
Jacksonville 1, Fla.
311 W. Monroe St.
Savannah, Ga.
125-29 Bull St.
Kansas City 6, Mo,
911 Walnut St.
Seattle 4, Wash.
909 First Ave.
For local telephone listing, consult section
devoted to 17. S. Government
JUNE 1954
By the Office of Business Economics
ENERAL business activity continues to be characterized
Gi
by mixed trends, with most industries following usual
r
seasonal patterns. Sales by retailers and manufacturers
have averaged slightly above their winter lows, and this
helped to further the liquidation of inventories. Seasonal
advances in total employment reduced the number of the
unemployed by 400,000 from March to May, but on a
seasonally adjusted basis nonagricultural employment continued its gradual downdrift. However, with the checking
of the decline in industrial production which had extended
from August through March, average hours worked by employees in manufacturing industries were lengthened a little
in May.
Personal income in April was at a $282 billion seasonally
adjusted annual rate, $1 billion below February and March.
Durable goods industry payrolls and farm income accounted
for the April decline. Despite the persistence of fractional
reductions since last summer, total personal income in April
was only 2 percent below last July's peak, as gains in transfer
payments and other income types have partly offset a
moderately greater reduction in wage and salary income.
The small loss in personal income has been approximately
matched by tax cuts and the steady rate of after-tax income
has lent stability to consumer spending, a sustaining force
to economic activity as a whole, throughout the past year.
Construction activity continues to register increases over
1953, which was the most active year on record. For the first
5 months of 1954 new construction was about 2 percent
above the like period last year; for May alone the gain was
4 percent. The feature of the industry's boom has been the
rising tempo of private construction, but public construction,
after lagging earlier in the year, by May was showing an equal
percentage gain from the corresponding 1953 period.
Private residential and nonresidential construction are up
from 1953, with the annual rate of housing starts—nearly
1.2 million—attesting to strength of residential activity in
Business Indicators
PERSONAL INCOME*
325
WHOLESALE
PRICES
INDUSTRIAL STOCK PRICES (420)
300
ANNUAL RATE
| 300
STAND.-POOR
250
^ 275
200
01
1
g 250
150
225
100
MANUFACTURERS' SALES*
16
I '»
NEW CONSTRUCTION ACTIVITY *
TOTAL
DURABLES
\
30
12
\
10
15
8
.
1953
1954
* SEASONALLY ADJUSTED
OFFICE OF BUSINESS ECONOMICS, U. S. D. C.,'
301095°—54
1
1952
1953
*\
NONMANUFACTURING
20
PRIVATE RESIDENTIAL
(NONFARM)
(952
NONAGRiCULTURAL EMPLOYMENT*
35
B.L.S. ond B.D.S.A,
1954
MANUFACTURING
10 ^\\\\\\\ l i f i i j 1 1 1 1 i i i i I i i i i
1952
1953
1954
SURVEY OF CURRENT BUSINESS
the near term. Commercial building has been especially
prominent in the active status of nonresidential building.
Public utility construction still maintains a little higher
rate of activity than in 1953 but farm construction is considerably lower.
In the field of public construction, educational and other
nonresidential building continues to run well ahead of last
year. Highway, sewer and water and other public service
enterprises also maintain a wide margin over 1953 both for
May and the first 5 months. Public residential building,
military, and conservation-development construction, on
the other hand, show substantial declines.
Total fixed investment by nonfarm business firms is not
quite so strong as their construction programs since reductions have occurred in equipment purchases. However, as
reported in a later section of this issue, plant and equipment
expenditures continue only a little below last year's record
rates.
Price movements continue to be small. Consumer prices
as measured by the Bureau of Labor Statistics index declined
from 114.8 (1947-49-100) in March to 114.6 in April as a
result of lower quotations for goods and services subject to7
the reduced excise tax rates. Most of the manufacturers
excise tax reductions on refrigerators, stoves, and other household appliances were passed on to customers, resulting in
average price cuts of 3 percent at retail. The tax cut was
followed by a decrease of nearly 4 percent in telephone rates,
and other items were also affected. Fuel prices were seasonally lower and apparel continued its gradual decline.
Much of the tax reduction was offset, however, by higher
prices for food, rent, medical care and other personal services.
The food index moved up 0.3 percent from the March figure
and stood almost 1 percent above average prices of a }7ear
earlier. Rent edged up 0.2 percent and measured 5 percent
above April last year. The entire consumer price index for
April, although 0.5 percent below January, was 1 percent
above April 1953.
STEEL PRODUCTION AND
SHIPMENTS
The decline in demand for the national product since
mid-1953 has been largely confined to durable goods. The
major categories—consumer, producer and defense durables—
were all affected. Although the decline in demand for the
aggregate of final products has been moderate, for primary
metals, which constitute the chief materials used by the
durable goods processing industries, it has been more
pronounced.
As a regular feature of periods of economic adjustment, a
decline in the final demand for durable goods travels back
along the industrial sequence and reaches the steel industry
in magnified degree. In this respect, the current adjustment
has run true to form. With consumer expenditures for
durable goods in the first quarter of 1954 down 8 percent
from the 1953 high and expenditures for producers' durable
equipment off 7 percent, government takings down moderately and construction higher, steel ingot production was
23 percent lower.
The steel operating rate in the first 5 months of the year
ranged between 68 and 75 percent of capacity on a monthly
basis and averaged 71 percent of the 124.3 million net tons
capacity in place on January first. Output of 36.8 million
short tons of ingots, equivalent to an annual volume of 89
million tons, was 24 percent below that of the corresponding
period of 1953. The steel industry expanded its capacity
rapidly after the Korean outbreak, 25 million ingot tons
having been added since January 1, 1950.
June 1954
Inventory liquidation
Steel consumption has declined considerably less than steel
output and steel inventories have been reduced. Data
measuring the actual consumption of steel by the processingindustries are not available, but there are indications that
consumption is currently at least as high as in 1952. Fabricated metals production, for example, as measured by the
Federal Reserve index, averaged 150 (1947-49=100) in the
January-April period as against 146 for the year 1952 while
new construction activity averaged $29.5 billion in constant
1947-49 dollars at seasonally adjusted annual rate as compared with $27.4 billion in 1952. These activities, along
with petroleum well drilling, which in the 1954 first quarter
was at a rate about one-fourth higher than in 1952, account
for the big bulk of steel consumption.
In 1952, with output held down to 93 million net tons by
the steel shutdown, there was some drawing down of steel
inventories—indicating that steel consumption was higher
than 93 million tons. Hence, if, as previously suggested,
current consumption so far this year is about equal to consumption in 1952, then output at the annual rate of 89
million tons during the January—May period points to
inventory reduction.
Table 1.—Shipments of Stc?el Products by Market Classifications
[Thousands of short tons; monthly average]
III
TV
1954 ! 1st quarter
1954 as peri cent of 1st
I
quarter 1951
1 031 •
9£
9^
8*
82
1953
I
Construction
Containers
Exports
Rail transportation
.
Machinery and equipment excluding agricultural machinery
Automotive
._ .
Agricultural machinery, including
tractors. -_
Consumer durable goods, other than
automobiles
Direct military, including ordnance,
shipbuilding, aircraft, and AEC L
All other 2
Montlily average .
II
1 045
1 076
1 112
1 181
560
231
399
508
183
373
427
247
409
415
508
221
334
763
942
673
1, 022
8C
78
844
831
765
1,296
1,413
1, 250
127
108
95
81
91
72
178
187
158
159
121
6£
315
2, 037
341
1,954
311
1,742
275
1,625
176
1,382
5€
6£
7,019
7, 100
6,497
6, 101
5,559 1
|
78
1. Substantial amounts of steel for defense production ore included in shipments to other
heavy goods industries.
2. Largely steel for warehouses and distributors.
Source: American Iron and Steel Institute.
The inference is supported by study of durable goods
manufacturers' inventories of purchased materials in which
steel products are the largest component. At the 1952
year end, after allowance for the sharp rise of materials
prices that followed the end of the steel strike, purchased
materials inventories held by durable goods manufacturers
were appreciably lower than at the beginning of the year with
those held by metal fabricating industries declining relatively
a little more. Over the same period, combined stocks of
goods finished and in process increased substantially.
During the current period, from September 30, 1953,
to April 30, 1954, purchased materials inventories held by
manufacturers of durable goods contracted by 16 percent
in book value and again, those held by metal fabricating industries shrunk a little more than that; stocks of finished
goods combined with those in process expanded moderately.
Output below last year
Shipments of finished steel during the January-March
quarter this year were one-fifth lower than in the correspond-
June
SURVEY OF CURRENT BUSINESS
1954
ing 1953 quarter (see table). For the same two periods,
however, fabricated metals production as measured by the
Federal Reserve index declined one-tenth while construction
activity, which accounts for most of the remainder of steel
consumption, was slightly higher in terms of constant dollar
expenditures. New petroleum wells completed in the first
quarter 1954 were nearly one-third above the 1953 opening
quarter.
The larger decline of finished steel shipments relative to
activity in most consuming industries is ascribable to the
fact that in the 1953 period steel was being added to stocks
on hand while this year stocks were being reduced. In the
automotive industry, for instance, receipts of finished steel
from mills in January-March 1954 were one-fifth less than
the same period a year ago while output of cars and trucks
was down 7 percent. Between the same periods, shipments
of finished steel to the machinery industr}^ were down by
one-fifth while the Federal Reserve index of machinery production was one-eighth lower. It should be noted, however,
that the above figures measuring shipments of steel from
mills to fabricating industries do not include any steel purchases the fabricating industries may make from jobbers and
warehouses, while on the output side the data mentioned do
not include output, which may have been sharply cut back,
of materiel the fabricating industries may make for the
armed forces.
centrated in manufacturing, April employment in manufacturing establishments was 12 percent—1.8 million workers—above April 1950. In nonmanufacturing industries,
employment increased more than 9 percent, providing 2.7
million additional jobs.
Among these nonmanufacturing groups, the rate of growth
has varied widely. Thus, construction, and communications
and public utilities other than transportation increased their
employment at about twice the all-industry average rate or
more than 20 percent over the 4-year span. Finance, real
estate and insurance added almost 17 percent to its work
force. The largest nonmanufacturing group—trade—was
up 10 percent and provided 0.7 million new jobs.
Secular movements affecting the railroads and coal mines
have resulted in a loss of employees in mining and transportation.
Percent Changes in Nonagricultural
Employment for Major Labor
Market Areas
MAR. 1952- M A R . 1954
MAR, 1953- MAR, 1 9 5 4
Construction and containers strongest
Strongest demand among steel consumers as compared to
a year ago is coming from the construction industry and
container manufacturers. During this year's first quarter,
shipments of finished steel to the construction industry were
within 1 percent of last year's volume for the same period.
Steel shipped to the container industry lagged only 2 percent behind the total for the 1953 first quarter; can manufacturers took about 3 percent more steel than in the 1953
period but producers of barrels and drums took 4 percent
less. No data are available as to the additional steel purchased by these industries from jobbers and warehouses.
Foreign demand for steel has declined with shipments for
export off 11 percent. As already mentioned, steel takings
by the automotive and machinery industries were off to the
same extent as the all-industry average—one-fifth. Receipts
of steel by makers of agricultural machinery showed a larger
drop than for either electric or nonelectric industrial machinery.
Rail transportation demand held up a little better than
average. The use of steel for maintenance of way and
equipment remained steady but steel going into new rolling
stock declined more than one-third as the output of cars and
locomotives was heavily cut back. The largest cut in steel
receipts by any major consuming group was recorded by
steel destined largely for direct defense purposes including
ordnance, shipbuilding, aircraft and AEC; shipments of this
type were 44 percent below the 1953 amount.
RECENT EMPLOYMENT
TRENDS
Despite the reduction of 1.5 million over the past year in
nonagricultural employees the total was almost 4.5 million
workers more than four years ago, shortly before the invasion of South Korea.
Developments of the past year have tended toward
removal of some of the marked departures from the previous
industrial distribution of employment which developed during the period of rapid defense expansion. Thus, although
the contraction of employment since last July has been con
-5
AREAS
PERCENT CHANGES
0
+5
tiO
I
Los A n g e l e s
Detroit
New York
Philadelphia
Baltimore
Cleveland
Chicago
St. Louis
Boston
Newark
San Francisco
Pittsburgh
Washington
J
BASIC DATA: B.ELS.
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
54-25-3
SURVEY OF CURRENT BUSINESS
June
Nonagricultural employment was rising rapidly in 1950
and the first half of 1951. The uptrend slackened by the last
half of 1951 and employment remained on a high plateau
until the last half of 1952 when it again advanced sharply,
then more slowly until mid-1953. Since then the decline has
been continuous in seasonally adjusted terms but the sharpest
losses were felt during the last quarter of 1953 (October 15January 15, 1954) when empWment dropped by 1.1 million
workers. April nonagricultural employment was almost
exactly the same as that two years earlier.
reduction in hours, resulting in part-time work and the loss
of premium pay for overtime, has also been very significant.
The greater reduction in manhours is shown in the following table:
Recent downtrend in employment
Widely disparate trends took place in manufacturing during the past year. The number of production workers declined about 11 percent, more than all wage and salary workers because the number of nonassembly employees and
salaried personnel increased slightly. Durable goods industries reduced production workers by 14 percent; nondurable by 6 percent. Thus, the two major manufacturing
segments, driven far apart in employment during the rapid
buildup of defense production, were apparently assuming a
more normal relationship.
From July 1953, when nonagricultural employment
reached its seasonally adjusted peak, the reduction has been
almost 1.9 million. At first employment declined only in a
few manufacturing industries although reduction in working
hours had been noted in most lines earlier in the year. During the third quarter, seasonahV adjusted manufacturing employment fell about 400 thousand, while nonmanufacturing
continued to increase.
In the last quarter the contraction in employment spread
to practically all segments of manufacturing and also affected
the nonmanufacturing industries; each group lost over a
half a million employees. In the first four months of 1954,
the rate of decline was smaller and now was again largely
concentrated in manufacturing, although railroads and mining also showed further loss.
Table 2.—Production Workers in Major Manufacturing Industries,
April 1954, and Percent Change From Selected Dates
Percent c hange to . .pril 1954
from—-
1954
Ordnance
Lumber
Furniture
Stone, clay, glass
Primary metals _
-
Fabricated metals
Machinerv
- -Electrical machinery
Transportation equipment
Instruments
Miscellaneous
Nondurable goods
Food
Tobacco
Textile-mills
Apparel
Paper
__
Printing
Chemicals
Petroleum and coal products
Rubber products
. .__
Leather products
- _ _
-
-
April
1950
April
1953
January
1954
-2.8
12, 705
8.0
-9.8
7,277
16.6
-12.8
-4.3
133
646
282
429
990
533. 3
—8.8
— 10.2
2. 1
-.3
-27.7
— 10.0
— 14 5
-7.5
-14.0
-24.9
2.5
-2.4
826
10.9
-12.6
-4.5
1,180
810
1,377
222
382
18.0
30.4
54.4
29.8
6.7
-12.0
— 14.9
-14.0
—8. 6
-8.0
-4. 1
-4.4
-6. 3
— 5.9
-1.0
5,428
-1.6
-5.5
-.6
1,117
94
982
1,050
434
-2.2
-15.8
.8
8.2
-2.4
1 1
— 11.5
-5.7
-.3
-3 1
— .5
-1. 1
—.5
516
529
180
199
327
7.3
8.2
4.0
5.9
-4.4
Source: Board of Governors of the Federal Reserve System.
C hu nee
Number
i employed
1 in 1954 i
Industry
1950-54
Manufacturing
. .
______
Retail trade.
Finance
Service
Federal government
State and local
Percent
Number
P ^rcent
.
47,925
4,478
10.3
1,488
-3.0
_
15,965
1,753
12.3 i
- 1,344
-7.8
31, 960
2,725
9.3 |
-144
747
2,512
2 685
1.321
2 773
-172
426
223
272
-18.7 !
20.4
-.1
20.3 '
10.9 |
-98 '
3
-208 i
17
-11.6
.1
7 2
1. 3
1.0
7,649
2 073
5, 501
2, 168
4 531
697
295
448
249
389
10.0
16.6
8.9
13.0
9.4
25
64
18
-158
166 i
.3
3. 2
.3
-6.8
3.8
Nonmanufacturing
Mining
_
Construct ion __ _ _ _ _
Transportation .
Other public utilities
Wholesale trade
1953-54
__.
!
1
!
j
i
\
i
i
1. Preliminary.
Source: Bureau of Labor Statistics, U. S. Department of Labor.
[Seasonally adjusted; number employed in thousands]
Manufacturing
[Data for April of each year; number employed in thousands]
Total
Declines were sharpest in those manufacturing lines which
had shown the most rapid expansion during the previous
three years. Production worker employment moved downward in most manufacturing industries during the past year,
but most industries remained above 1950; only textiles and
furniture were as much as 10 percent below April 1950 (see
table). From the standpoint of labor income, the recent
Durable goods
Table 3. — Employees in Nonagricultural Establishments, 1950—54
Number
Trends within manufacturing
Number
employed
in April
Percent Change in Production Employment, Hours and Manhours
May 1953-May 1954
Employment Hours
^ManhouTs
34
139
Manufacturing
-10. 6
Durable goods
-13. 5
-3.6
-16,'3
Nondurable goods
-6.3
-2.8
-8.9
—.7
,0
— 5.9
-4.8
- 12. 3
—8.4
-5.2
Between April 1953 and April 1954 six metalworking
industries which had added almost 2 million workers between
April 1950 and April 1953—ordnance, primary metals,
fabricated metals, machinery, electrical machinery, and
transportation equipment—dropped more than 850 thousand
production workers. Falling sales resulted in layoffs in
farm machinery plants earlier in 1953.
Within the transportation equipment group, there were
also varying trends during the last year. Production workers
in aircraft increased 2 percent, although a more than offsetting decline in weekly working hours took place. In the
automobile industry which has been doing a large volume of
defense work, there were 21 percent fewer workers (March
1954 latest data), while hours were cut by 6 percent. Employment reductions also occurred in shipbuilding and railroad equipment. Among the nondurables, employment in
April 1954 was slightly higher, and employment losses in
most other major industries were moderate. Textiles and
rubber, however, reported declines approximating 12 percent.
.4
— 1. 1
Regional Employment
-2.5
— 1.5
The decrease in nonagricultural employment over the past
year apparently has not greatly affected the relative employment trend among broad geographical regions. Although
SUEVEY OF CURRENT BUSINESS
June 19H4
all regions ] experienced some loss in nonfarm jobs since last
March, reductions in the Far West, Southeast and Southwest
were relatively lightest and these areas continued to gain in
the proportion of total employment. Employment in centers of heavy industry within the Central region which had
gained during the preceding year, slipped somewhat more
Table 4.—Nonagricultural Wage and Salary Workers, Number and
Percent of Total by Regions, for March 1950, 1953, 1954
Thousands of persons \
Percent distribution
1950
1950
1953
1954
1953
1954
New P'ngland
3, 173
3, 514
3, 403
7.5
7.2
7.1
Middle East
12 258
13 533
13 107
28 7
27 6 ^
27 4
15 8
Southeast
6 523
7 629
7 528
15 3
15 5 '
Southwest
2 588
3 137
3 115
61
64
65
12, 159
14 119
13 544
28 6
28 8 i
28.4
Central
Xorthwest
1,777
2,075
2,032
4 2
4 2
4.3
Far West
4 107
5 062
5 015
9 6
10 3
10 5
42, 585
49, 059
47, 773
100.0
100.0 i
100.0
Continental I). S. L.-
1. Total for States differs slightly from published data for continental United States.
Source: Bureau of Labor Statistics, U. S. Department of Labor, except March 1954 employment was partly estimated by the Office of Business Economics.
Areas of stability during past year
Among other important production and employment centers, 14 which employed 100,000 workers or more reported
increased employment since April 1953; Miami, Rochester,
Dallas, Seattle, Atlanta, Flint, Tampa-St. Petersburg,
Jacksonville, Knoxville, Hartford, San Bernardino-Riverside,
Perth Amboy, Tulsa, and Omaha. In 11 of these local manufacturing emplo37ment either gained or held firm.
The three major centers of Florida undoubtedly reflect
that State's recent rapid population and industrial growth.
Expanding aircraft establishments aided the relative prosperity of Seattle, Hartford, and San Bernardino-Riverside.
Continued strength of the oil industry was reflected by Tulsa
and Perth Amboy. In Flint, the strength of automobile
employment contrasts sharply with the depressed employment level in some other automotive centers. Rochester's
major industries—photographic equipment, optical goods,
and men's clothing—provided a stable combination.
Areas of sharp employment decrease
In addition to the 3 very large areas already noted, areas
with 100,000 or more workers which experienced employment
reductions of 8 percent or more were Canton and Toledo,
Ohio; Providence, R. I.; and San Antonio, Texas.
Table 5.—Major United States Labor Market Areas
than in other regions, as to a lesser extent, did employment
in the older industrial areas like the Middle East and New
England.
Local Area Changes
While employment changes have not differed markedly
among broad regions, the experience of local areas has been
much more varied, especially as among the smaller areas.
Most of the largest American metropolitan areas or labor
markets are diverse, and not dependent on a single industry
for economic well-being.
Among the 13 labor markets which employed 500 thousand
or more nonagricultural wage and salary workers in March
1954, employment declines of 2 to 4 percent over the past
year were reported by 8 changes differing little from the
national average of 3 percent. Los Angeles reported no
change and the New York and Baltimore areas minor losses.
Washington, Pittsburgh, and Detroit experienced pronounced
declines.
The major industry of Los Angeles, aircraft, expanded in
1953, and the basic economic factors which are responsible
for the area's remarkable growth continued. Manufacturing
employment in Los Angeles slipped less than 2 percent
during the past year, less than any other area employing
500,000 or more. For the New York area, the service and
distributive industries remained stable. Baltimore is an
area of diverse manufacture, distribution, and port activities.
The three large areas which lost most heavily in employment
were all centers of specialized activity; Detroit, automobile
and defense work; Pittsburgh, steel; and Washington,
Federal Government.
The Detroit area lost 8.5 percent of its total employment
and 16 percent of its manufacturing employees. Decreasing
employment in some automobile plants and cancellations or
completion of defense contracts were the major factors.
Steel, machinery and electrical machinery declines were
chief causes of the 10 percent drop in manufacturing jobs in
the Pittsburgh area.
Trends in the 13 largest labor markets between March
1953 and March 1954 are indicated in table 5.
Percent change, March
Total non1953-54
agricultural Percent in
employmanufacturing
ment
Nonagri- Manufac(thousands)
turing
culture
Area
4.016
2,270
1,817
29
40
35
-1
-3
None
-6
-7o
1, 361
1, 243
926
45
52
34
-3
-2
-8
-16
-5
Newark
St Louis
Cleveland
737
703
652
47
40
48
-3
-4
-3
-4
Pittsburgh
. __
San Francisco
Washington
_ _
Baltimore
775
851
593
551
44
23
4
35
-7
-3
-6
-1
-10
-5
-3
—6
13 large areas
16, 495
36
o
United States
47, 800
34
New York
Chicago
Los Angeles
. ._ _
Philadelphia
Detroit
Boston
_
_ __ . . -
_ . ..
0
—7
—7
Source: Bureau of Employment Security.
Table 6.—Smaller Areas Showing Marked Employment Increases
or Decreases March 1953-54
Areas of employment increase
Areas of employment decline
Percent increase
Percent decrease
Area
Nonagri- Manufacturing
cultui e
Area
N onagri- Manufaccultute
turing
Kenosha
Evansville
Lawrence
-27
-18
-15
-34
-30
-24
San Jose
El Paso
Portland, Maine
3.5
2.0
2.0
8.1
3.7
1.6
\ltoona
Aiken- Augusta
Muskegon
— 15
-15
-14
—30
12
-20
Atlantic City
Asheville
Austin
1.9
1.4
1.2
10.2
2.2
2.7
Battle Creek
South Bend
Joliet
-14
-13
-13
-19
-19
-17
Phoenix _ _
Charlotte
Winston-Salem
1.0
.7
.7
-1.9
—2.0
-1.7
Davenport-MolineRock Island
-13
-17
Corpus Christi _ Little Rock
.6
.1
8.6
-.4
Source: Bureau of Employment Security.
3. The States comprising these regions are indicated in the August 1953 issue of the Survey.
Q
(Continued on p. 24)
.
SURVEY OF CURRENT BUSINESS
6
June 1954
Business Capital Investment
in Third Quarter of 1954
THE LATEST survey of plant and equipment expenditures
indicates a continuing high rate of capital outlays through
the third quarter of this year. According to reports received
in May by the Office of Business Economics and the Securities and Exchange Commission, business plans outlays at
seasonally adjusted annual rates of $26.9 billion and $26.8
billion in the second and third quarters, as compared with
$27.5 billion in the first quarter.
The indicated annual rate of $27.1 billion for the first
three quarters of 1954 approximates the $27.2 billion projected total for the year 1954 revealed by the annual survey
reported earlier this year. This year's rate of capital outlays is within 5 percent of the record $28.4 total put in place
in 1953.
The survey finds that, after adjustment for seasonal influ-
ences, the moderate decline from the end of 1953 centers
primarily in manufacturing and transportation. Thes«.
industries show successively lower expenditures in each of
the first three quarters of this year. Public utilities, mining
and commercial companies reduced expenditures slightly in
the first quarter of this year but plans for the second and
third quarters indicate increases in their rate of capital
outlays.
Manufacturing outlays lower
In the aggregate, manufacturing companies are expecting
a moderate reduction in their capital budgets in the second
and third quarters. Plans reported in the latest survey call
for seasonally adjusted annual rates of expenditure of $11.4
Table 7.—Expenditures on New Plant and Equipment by United States Business,1 1951—54
[Millions of dollars]
1951
1952
1953
Jan.Mar.
Manufacturing
Durable-goods industries.
_
_
._ _
Primary iron and steel
.
__
Primary nonferrous metals
Electrical machinery and equipment
Machinery except electrical
_ _ . _
. __
.
_. _
- - - - - - - -
Motor vehicles and equipment ._
Transportation equipment excluding motor vehicles
Stone, clay and glass3products
Other durable goods
.......
..
.
. _. .
Mining
...
.
-
___
-
-
_ _ _
Apr.-2
JulySept. 2."
June
12, 276
2,747
3, 192
2, 945
3, 392
2,641
3,001
2 779
5,614
5,821
1, 331
1,486
1,376
1,628
1,224
1,414
1 279
..
1,198
310
373
683
1,511
512
386
701
1,340
456
481
803
326
112
88
183
369
120
119
215
322
109
116
191
323
115
158
214
210
77
94
162
252
87
123
197
240
78
114
172
-_
851
219
397
1,136
855
211 > 1, 168
339
330
1,107
1, 233
230
75
317
252
88
322
275
84
278
411
92
316
322
75
283
394
83
278
360
83
232
5,684
6,018
6,455
1,416
1,707
1,569
1,764
1, 417
1, 587
1,499
853
531
420
1,247
2,102
150
382
769
434
364
1,386
818
351
431
1, 559
196
96
86
353
540
34
111
237
96
103
417
709
43
101
189
77
117
376
695
37
79
196
82
125
414
818
44
85
205
75
110
337
549
32
109
220
72
114
351
694
33
103
188
62
92
322
713
32
91
252
- - _.
.. ..
__ .
.. . _ . - -
Jan.Mar.
11,632
..
--
. . _ ..
- -
Oct.Dec.
5,168
. ...
...
-
. ... _
...
JulySept.
10, 852
.
..
- -
Nondurable-goods industries
Food and beverages
Textile-mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber products
Other nondurable goods 4
_
__
June
Apr.-
.. ._. - _ .
. - . - _ _
.. .
2,535
154
377
2,762
158
376
929
985
1,011
225
234
265
288
223
262
1,474
1,396
1,312
313
359
300
341
248
248
179
1,490
1,500
1,464
337
366
386
376
360
343
316
Public utilities
3,664
3,887
4,548
925
1,158
1,219
1,246
910
1,167
1 178
Commercial and other "
7,235
7,094
7,778
1,792
1,979
1,984
2,023
1,859
2,014
1 982
25, 644
26, 493
28,391
6,339
7,289
7,098
7,666
6,240
7,034
6,68f
12. 35
12.26
11.42
11. 02
1.04
Railroad
Transportation, other than rail
.
.
- --
All industries
Seasonally adjusted at annual rates
[Billions of dollars]
Manufacturing
Mining
Railroad
Transportation other than rail
P ublic utilities
Commercial and other 5
All industries
....
-
-
..
- -
--
- ..
-- - -
1. Data exclude expenditures of agricultural business and outlays charged to current account.
2. Estimates based on anticipated capital expenditures as reported by business in May
1954. Seasonally adjusted data for these quarters are also adjusted when necessary for systematic tendencies in anticipatory data.
3. Includes fabricated metal products, lumber products, furniture and fixtures, instruments,
ordnance, and miscellaneous manufactures.
1.34
1.38
4.64
7.92
12.30
1.06
1.30
1.59
4.72
7.94
12.22
1. 10
1.26
1.52
4.46
8.00
11.87
1.34
1.38
4.40
7.42
1.06
1.47
4.29
7.84
1.27
4.44
7.98
1.30
4.53
8.20
27.84
28.48
28.92
28.56
27.48
26.94
26.79
.96
.93
.95
.98
.86
.70
4. Includes apparel and related products, tobacco, leather and leather products, and printing
and publishing.
5. Includes trade, service, finance, communication, and construction.
Source: U. S. Department of Commerce, Office of Business Economics, and Securities and
Exchange Commission,
June 1954
SUEVEY OF CURRENT BUSINESS
billion and $11.0 billion in these two quarters, as compared
with a rate of $11.9 billion in the first three months of 1954.
There is no indication from the latest survey that manufacturers have introduced any significant revisions in their
annual projections for 1954 made earlier this year. Seasonally adjusted investment in the first three quarters is now
expected to run about 7 percent below the 1953 average;
last March business projected the same relative decline for
the full year 1954. Although actual spending in the first
quarter was somewhat higher than planned at that time,
second quarter programs have been scaled down. On
balance, it appears that programs of durable goods producers
are running a little higher than anticipated in March, while
programs of nondurable goods manufacturers are a bit
lower.
Compared to 1953, considerable variation in planned
spending rates is indicated among individual manufacturing
industries, as can be seen in the bottom panel of the chart.
In recent months investment plans of automobile manufacturers have undergone a substantial upward revision from
their very high earlier programs; for the first three quarters
of this year capital outlays are expected to be about half
again as large as they were in the same period last year.
Electrical machinery, petroleum, paper and producers of
miscellaneous nondurable goods are projecting small increases
in capital outlays over the previous year, although in the
case of petroleum companies the rise is not quite so large as
anticipated earlier. Food and stone, clay and glass companies, which had earlier expected to reduce outlays from
1953, now anticipate maintenance of last year's rates.
Chemicals and other machinery companies still expect
cutbacks from 1953. Primary metals and textile producers
, continue to show substantial declines from a year ago.
Rails pare capital budgets
Other nonmanufacturing
Spending rates by commercial companies are expected to
increase in the second and third quarters above the first
quarter seasonally adjusted annual rate of $7.8 billion.
The average of the first three quarters is approximately $8.0
billion, up 3 percent over the 1953 average and about the
Plant and Equipment Expenditures
have declined slightly since last year . . .
PUBLIC UTILITIES 8 COMMERCIAL
40
TRANSPORTATION
MANUFACTURING 8 MINING
30
20
10
with wide variation among manufacturing industries
PERCENT C H A N G E ,
Railroad companies have cut back their investment
programs even more than they had previously indicated.
Actual investment in the first quarter and preliminary
estimates for the current quarter at seasonally adjusted
annual rates of $1.1 billion and $0.9 billion are about 5 percent
lower than projected—and more than 25 percent below
outlays in the first half of last year. A further drop to a rate
of $0.7 billion is being programed for the third quarter of
this year. The decline in economic activity has cut freight
revenues sharply, and railroad net income so far this year
has been running far below year-ago rates. This development, coupled with the near-completion of equipment
expansion programs, has resulted in sizable reductions in
equipment purchases and more moderate decreases in outlays for roads and structures.
1954'
1953
QUARTERLY TOTALS, SEASONALLY A D J U S T E D , A T A N N U A L RATES
-30
I
-20
I
1st 9 Mos. 1953
-10
I
0
to 1st 9 Mos. 1954
-HO
+20
+30
ALL MANUFACTURING
MOTOR VEHICLES ft EQUIPMENT
OTHER N O N D U R A B L E S
PAPER
ELECTRICAL
MACHINERY
PETROLEUM 8 COAL PRODUCTS
FOOD 8 BEVERAGES
STONE, CLAY 8 GLASS
TRANSPORTATION EQUIPMENT
MACHINERY, EXCL.
ELECTRICAL
CHEMICALS
OTHER DURABLES
RUBBER
Utility investment high
Public utilities are planning to increase capital expenditures to an annual rate of over $4.5 billion in the third
quarter, as compared with first and second quarter rates of
$4.3 and $4.4 billion, respectively. Actual first quarter
and estimated second quarter spending indicate very little
change from previous plans.
The seasonally adjusted investment figures for the first
three quarters of this year average about 3 percent below
1953. According to present plans, investment by the
electric utilities this year should approximate last year's
record rate. On the basis of the programs for the first
three quarters of this year, outlays by the gas companies
may be reduced by about 10 percent from last year.
TEXTILES
PRIMARY NONFERROUS METALS
PRIMARY IRON 8 STEEL
I
SECOND AND THIRD QUARTERS
ANTICIPATED.
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
I
I
DATA: O.B.E.8 S.E.C.
54 - 2 5 -2
same as the earlier annual anticipation for the full year
1954. Mining companies also indicate a rising trend in
capital outlays through the third quarter. In nonrail transportation a leveling out in investment programs is apparent
in the summer months after a steady decline from the third
quarter of 1953. Oil pipeline companies and airlines show
the greatest strength in this area.
SURVEY OF CURRENT BUSINESS
8
June 1054
U. S. Balance of Payments Reflects
Economic Improvement Abroad
DURING THE first quarter of 1954, foreign gold and dollar
assets increased another half billion dollars through transactions with the United States, continuing their uninterrupted growth since the second quarter of 1952. With
further economic improvements abroad, several foreign
countries relaxed their restrictions of purchases in the
United States, and made special repayments of debts.
While there has been some decline in domestic business
activity from last year's peak which has affected our foreign
trade, several factors contributed to the maintenance of a
relatively high volume of economic interchange between the
United States arid foreign countries.
The small decline in United States demand for imported
raw materials was compensated by the rising demand abroad,
with the result that prices of internationally traded raw
materials have remained relatively stable since the middle of
last year. In fact, because of the price rises for coffee and
cocoa, the average unit values of all United States imports
during the first quarter of 1954 were slightly higher than
during the second quarter of 1953.
Increased production abroad, particularly of basic agricultural products and fuels, had substantially reduced foreign
dependence upon supplies from the United States.
The change in domestic business activity was quickly reflected in changes in interest rates, and, together with a
rising confidence in certain foreign currencies, resulted in
a substantial increase in the outflow of private capital from
the United States.
The demand for dollars as international working capital
and reserve against adverse developments has declined as
more goods became available against payment in other
currencies, and as restrictions on the use of sterling and
several other European currencies for transactions among
foreign countries were practically eliminated. Holdings of
these currencies could be added, therefore, to effective foreign
reserves, thus reducing the dependence of the rest of the
world upon the flow of dollars and economic developments
in the United States.
Special factors in the first quarter
Balance-of-payments data for the first quarter of the
current year were somewhat distorted by the effects of the
disruption of shipping activities in the port of Ne;vv York
during March. Merchandise exports, excluding shipments
of military end items under aid programs, declined from
$996 million in February to $919 million in March, but
rose again in April to $1,254 million.
Imports were probably also affected, although the March
figure exceeded that for February. The April data
indicate an import value of $957 million, about $100
million higher than in March. A part of the April rise, both
for exports and imports, consisted of delayed shipments and
for analyzing international trade developments should be
added to the first quarter figures. Such adjustments would
raise the export values during the first quarter possibly by
$150 million, and import values by $40-$50 million. Since
details for April on the composition or the country breakdown
of merchandise trade were not available in time for this
NOTE—REVISIONS OF BALANCE OF PAYMENTS DATA FOR 1946 TO 1953
WILL BE PUBLISHED IN THE JULY ISSUE OF THE SURVEY OF CURRENT
BUSINESS.
publication, and since it is not certain that payments were
made for the delayed shipments, these adjustments could
not be taken into account in the estimates of the first-quarter
balance of payments.
Foreign reserves increased
Compared with the previous quarter, the rise in foreign
gold and dollar assets through transactions with the United
States was $125 million higher. In addition, France was
able to repay $70 million on a Government loan, although the
payment was not due until next year. This rise in foreign
gold and dollar accumulations largely reflects seasonal factors
in the balance of payments, however. Most important
among these are the $140 million annual payment of interest
and principal on the British loan, and seasonally larger incomes on private investments which reduced dollar accumulations during the fourth quarter. Merchandise exports are
also usually higher in the late fall. Although foreign countries as a group continued to gain in financial strength at
about the same rate as during the last quarter of 1953, there
were increasing differences among them.
Foreign dollar receipts smaller
Foreign dollar receipts during the first quarter were about
$300 million less than during the previous 3-month period—
or, if delayed imports were taken into account, the difference
would be reduced to perhaps $250 million. Nearly $200
million of the decline stemmed from lower net disbursements
on Government grants (excluding those in the form of military end items) and long- and short-term investments.
The outflow of private capital increased, however, mostly
as a result of new bond issues by Canada and the International Bank. These bond sales were stimulated in the late
months of last year and the early part of theT current year by
the reduction in domestic interest rates w hile foreign rates
were relatively steady. There were also major short-term
bank loans to Germany and Turkey, which were, however,
offset by repayments of short-term private claims on other
European and on Latin American countries.
Merchandise imports have leveled off following the decline
during the second half of last year. The higher payments
for coffee and cocoa compensated for lower imports of iron
and steel mill products, industrial machinery and other
items for which demand has fallen. Imports of copper,
aluminum, and other rionferrous metals and ferroalloys,
however, were well maintained from the previous quarter.
The major element in the decline in payments for goods and
services was the1 smaller militaiy expenditures, which mainly
affected Japan.
Exports of goods and services (excluding military transfers
under aid programs) were about $470 million smaller than
during the previous quarter. If the delayed shipments were
added to the first quarter exports, the difference would be
reduced to about $320 million. Exports of manufactured
goods were apparently well sustained after allowing for
normal seasonal variations. Even according to the smaller
published figures, the decline in exports of machinery was in
part offset by a rise in shipments of automobiles and parts.
The major decline from the previous quarter was in grains
1. Transactions in Japanese currency obtained by the Armed Forces from the Japanese
Government without payment were eliminated from balance of payments data.
June 1954
SURVEY OF CURRENT BUSINESS
and other agricultural products, which was in part offset by
higher shipments of cotton.
Compared with the first quarter of last year, the balance
of payments during the first quarter of 1954 shows that, for
the rest of the world as a whole, the decline in the accumulation of gold and dollars by about one-quarter of 1 billion
dollars coincided with a similar decline in net disbursements
on Government grants, loans and short term assets. Imports of goods and services fell off more than exports, but the
rise in the export balance (excluding military end items transferred under aid programs) from about $100 million in the
first quarter of 1953 to about $170 million in the first quarter
of 1954 was more than offset by the larger outflow of private
United States capital. About one-third of the decline in
total imports from the first quarter of 1953 to the first quarter
of the current year was accounted for by smaller additions
of strategic materials to the Government stockpile. Although military expenditures partly compensated for the
decline in merchandise imports, the major factor in limiting
the rise in the export balance was the reduced demand for
United States merchandise.
Rising strength of Western Europe
The net gain in gold and dollars by continental Western
Europe as reflected in the United States balance of payments was about $90 million more than during the first
quarter of last year. In addition, repa3^ments of special
loans by France exceeded those of last year by $40 million,
and the United States reduced its holdings of certain European currencies by about $30 million, most of which was
obtained in previous periods as the United States portion
of counterpart funds to Government aid disbursements.
Net Government grants to Continental Europe included
for the first time about $30 million of special aid to France
to meet the costs of the war in Indochina.
The increased strength in the financial position of continental Western Europe was in part due to the rise in United
States military expenditures by about $100 million, which
approximately offset the decline in U. S. merchandise imports.
Another factor contributing to the rise in gold and dollar
reserves by continental Western Europe were the net dollar
earnings by the French, Belgian, and Portuguese dependencies resulting from considerably larger receipts from sales of
cocoa and coffee to the United States while purchases of these
dependencies here declined.
Balance with sterling area maintained
United States transactions with the sterling area resulted
in a decline in net payments by the United States from about
$210 million in the first quarter of last year to $115 million
in the first quarter of this year. Net sterling area receipts of
gold and dollars from transactions with other countries were
also smaller.
Beginning with February of this year, official sterling area
reserves rose, at an accelerating rate, however, a development
which lasted at least through May. The rise reflects largely
the increased usefulness of sterling for settling international
transactions and for trading on British commodity exchanges
as well as on the recently opened gold market.
The change in net dollar receipts b}^ the sterling area from
the United States from the first quarter of last year was due
to a decline in United States Government grants (mainly due
to the completion of grant-financed wheat shipments to
Pakistan) and a shift in the movement of United States
capital from a net outflow of $40 million to a small inflow.
Transactions in goods and services resulted in an increase
in the United States payment balance from the first quarter
301095°—54
9
of 1953 to the first quarter of the current year, although
imports of merchandise from the sterling area dropped by
about 20 percent, approximately twice the percentage rate
of the decline in total merchandise imports. United States
exports were mostly affected by reduced requirements by
the United Kingdom, India, and Pakistan, for grains, and by
a decline in the delivery of machine tools to the United
Kingdom, most of which were financed under aid programs
to increase production of military equipment.
Divergent trends in Latin America
Merchandise exports to the Latin American Republics as
a whole were nearly the same as during the first quarter of
1953. Imports were slightly smaller. The rise in payments
for coffee and cocoa did not quite compensate for the decline
in import values of nonferrous metals and wool. Coffee and
cocoa imports during the first quarter did not yet fully reflect
the recent rise in prices; a further rise in import values of
these commodities is to be expected, therefore. The average
value for coffee during the first quarter was 57 cents per pound
and in March 62 cents, as compared with recent spot f. o. b.
prices of about 85 cents. Cocoa (currently quoted at 65
cents per pound) was imported during the first quarter at an
average value of 40 cents and during March at 44 cents.
The differences in market conditions for some industrial
raw materials and for coffee and cocoa were reflected in the
transactions with individual countries. Imports from Brazil, Colombia, some of the Central American Republics and
Venezuela rose, while those from Argentina, Bolivia, Chile,
Mexico, and Uruguay fell.
Exports to Brazil have recovered slightly as the backlog
of commercial debts by that country was reduced and a
larger part of current exchange earnings could be allocated to
imports. There was a rise in exports to the Central American
Republics, but sales to Colombia were hardly higher than
a year earlier and somewhat smaller than during the remainder of 1953. Colombia, however, reduced its commercial
debts to the United States and increased its dollar assets.
Exports to Chile and Peru, whose economies are dependent
upon earnings from the sale of metals, were considerably
smaller than a year earlier. Exports to Argentina and
Mexico improved, as business conditions in these countries
recovered from a period of slight readjustments during 1953.
Rising inventories of imported products last year and
some increase in imports of manufactured goods from other
countries during the current year were apparently responsible
for the lower U. S. exports to Cuba and Venezuela.
Decline in trade with Canada
The similarity of business developments in Canada and
the United States affected both United States exports and
imports of goods and services. Merchandise exports, however, were about $100 million less than in the first quarter of
1953, while imports declined by $50 million. The export
decline affected mainly military equipment, tractors, construction and excavating equipment, rolling mill products,
electrical machinery, machine tools, and, to a lesser extent,
such consumer goods as textiles. Exports of automobiles
and parts for assembly were almost as high as a year earlier.
The decline in exports of petroleum to about 60 percent of
the value during the first quarter of last year was partly
caused by the completion of new Canadian producing and
transport facilities.
Imports from Canada—nearly half of which consist of
newsprint, pulp, and other wood products—were less affected by domestic business adjustments, particularly as
residential construction, which is the principal market for
Canadian lumber, was well maintained. The decline was
SURVEY OF CURRENT BUSINESS
10
concentrated in imports of grains, agricultural machinery,
copper and aluminum, and steel mill products.
The rising spread between the Canadian and United States
interest rate continued from the middle of last year until
March of this year and led to a rise in new Canadian issues in
the United States. Most of the new bonds are obligations of
provincial and local governments reflecting a need for new
funds which also parallels that in the United States.
June 1954
Largely as a result of these new bond issues, the Canadian
holdings of short-term assets in the United States increased
by about $70 million.
Reserve losses by Japan
In contrast to the change in the European and Western
Hemisphere countries, there was a deterioration in Japan.
During the first quarter of the current year Japan lost about
Table 8.—Balance of Payments of the United States, by Area—
[Millions of dollars]
All areas
1953
1
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Exports of goods and services, total
Military
transfers under aid programs, total,
net.2
Supplies
Services, including freight
Other goods and services, total
Merchandise, adjusted
..
Transportation _. _.
Travel
Miscellaneous services:
Private
Government
Income on investments:
Private
- ..
G o vernment
__
..
Merchandise, adjusted (excluding military expenditures) .
Transportation _
Travel
Miscellaneous services:
Private
Government (excluding military expenditures) .
Militarv expenditures
Income on investments:
Private
1953
IV
I*
I
IV
IP
5,388
5,194
4,747
2,051
1,848
1,678
1,282
802
826
1,222
60
762
40
784
42
4, 106
3,034
301
112
4,391
3,194
299
112
173
46
I
1,046
758
122
9
1,185
817
124
8
1,018
713
120
10
165
125
11
1
172
125
9
1
146
106
8
1
176
40
180
43
70
20
70
21
72
19
4
4
4
409
31
449
121
413
45
42
24
38
107
50
34
24
32
1
27
(*)
4,003
3,948
3,753
1,079
1,242
1,085
296
286
298
11
9
2,796
2,597
2,512
550
567
447
231
234
239
10
8
8
264
143
254
156
248
146
131
27
124
48
122
31
8
17
8
10
71
71
64
53
75
51
55
27
53
22
53
20
547
700
618
219
356
342
91
20
101
23
80
23
62
8
61
11
60
10
1,385
1,246
994
-952
-987
Private, net, total
Direct investments
Portfolio
Short-term
33
34
35
36
Government, net, total
Long-term capital outflow
Repayments
37
38
39
40
41
42
Foreign capital, [net, outflow of funds ( — )J, totaL _
Long-term investments:
Direct and portfolio (excluding U . S . Government securities) .
Transactions in U. S. Go vernment securities.
Short-term liabilities to foreign banks and official
institutions.
Other short-term liabilities
Gold sales [purchases ( — )]
43
Foreign capital and gold, total
44
Transfer of funds between foreign areas [receipts
from other areas (— )] and errors and omissions,
net.
-117
-108
*?8?
-471
-35
802
-406
-33
826
— 396
-30
-206
-250
-219
-194
-35
10
-226
-139
-90
2
13
-65
95
— 17
-24
-170
150
-4
155
263
-120
Short-tf^TTn (not)
T
-57
-63
-55
1 006
309
—7
862
— 291
—6
-660
— 266
-6
-181
67
102
-332
-137
-221
26
21
-35
19
37
2
-1
54
-51
151
-54
153
52
46
-20
73
462
0
IV
978
(*)
(*)
(*)
(")
2
36
1
1
(»)
18
2
2
31
30
1
22
(*)
23
1
4
1
74
(*)
101
(*)
86
(«)
8
707
773
643
578
607
527
(«)
22
26
24
43
21
25
(,)
6
1
4
0
7
1
(*)
46
55
41
23
5
36
17
4
(*)
(*)
(*)
(*)
(*)
(*)
(*)
1
(*)
(*)
1
1
(*)
-114
-131
941
727
25
64
1
C)
-5
-4
-5
-4
-152
—5
-1
978
799
23
60
(*)
(«>
1
0
-i
271
167
244
-3
-11
~7
-3
-4
-3
i
0
j
-1
-6
-5
(*)
(*)
(*)
153
-26
(*)
14
-12
35
-9
-23
-21
1
-3
-2
—1
0
-1
0
2
1
1
99
-18
123
-6
139
-18
123
34
-3
-2
3
-1
-1
1
-4
5
(*)
«
223
325
8
-20
-11
(*)
10
(*)
-17
2
(*)
(«)
3
4
887
693
24
56
-8
!
(*)
887
7
5
9
8
(*)
I*
940
1
i
3
2
1954
-3
(*)
1
1
1
(*)
-2
-142
-206
-166
-141
-93 i -57
-74 !
-86
1 i
2
-215
-61
-147
-7
1
1
1
-2
-2 i
(-)
(*)
-8
2
-12
2
-8
-86
w
(*)
(*)
-2
-168
1
1
__
(*)
;
-2 i
1
1
-1
-1
(•)
(*)
9
-1
10
82
64
i
63
39
12
46
32
19
26
26
-15
202
16
356
-89
(*)
211
13
288
40
37
78
44
-20
5
603
130
56
505
121
758
393
518
505
344
-29
-31
29
-145
-100
v1 Preliminary
Less than $500,000.
1 . Exports of goods and services to the sterling area have been adjusted to exclude exports of
military-end-use items financed through grants under the military-aid programs and to include in
7
9
3
3,921
2,846
284
110
Unilateral transfers [net, to foreign countries (— )],
total
-1,908 - 1, 358 -1,360 -1,399
29
30
31
32
146
I
I»
625
35
23
United States capital [net, outflow of funds ( — )],
total
172
IV
I
627
35
593
28
IP
1953
1954
1953
961
45
606
•
IV
165
972
Private remittances
Government:
Military supplies and services 2
Other grants
Pensions and other transfers
1954
660
1,006
Balance on goods and services
25
26
Canada
j
662
G o vp/rn m e,n t
-
1954
1953
I
_.
Imports of goods and services, total
1954
22
24
Eastern Europe
Item
Line
2
Dependencies
Western Europe
—1
i
63
388 !
-147
~2
i
16
(*
—1
-11
1
-8
(0
(*)
o
66
10
1
9
-10
-11
153
128
165
1
i
i
(')
!
10 |
-8
18 !
2
-11
5
-89 ;
1
-1
-7
-22
76
3
19
29
49
-1 1
-1
81
63
-106
-100
:
merchandise for the total sterling area— but not for the United Kingdom and other component areas— "Special category" exports sold for cash. For the definition of "Special category"
goods, see Foreign Trade Statistics Notes for February 1953, published by the Bureau of the
Census.
SURVEY OF CURRENT BUSINESS
June 1954
$150 million in dollar reserves as compared with a gain of
$90 million a year earlier.
Merchandise exports to Japan from the United States
increased by $90 million over the first quarter of 1953, while
United States imports declined by $10 million and military
expenditures by about $60 million. In addition, a substantial part of the remaining military expenditures were paid in
Japanese currency purchased during previous periods.
11
The rise in Japan's imports from the United States included
higher shipments of foodstuffs, but consisted mostly of
industrial raw materials and equipment required by the
rapidly expanding industrial production of the country.
Cotton purchases were financed by private bank loans
guaranteed by the Export-Import Bank, aggregating $60
million, of which $34 million were utilized during the first
quarter.
First and Fourth Quarters 1953 and First Quarter 1954
[Millions of dollars]
Sterling area 1
juatin American
republics
International
institutions
All other countries
1954
1953
IV
I
1954
1953
IP
I
IV
1,036
IP
1954
1953
IV
I
17
1,045
1,177
1,129
1,035
972
6
7
11
270
134
155
6
6
1
10
1
255
15
130
4
149
6
1,039
719
82
34
1,170
826
83
32
1,025
710
80
35
859
631
63
8
902
691
58
7
817
614
52
8
17
41
6
42
6
42
6
23
20
25
12
26
14
154
3
172
9
146
6
110
4
105
4
1,152
924
1,103
753
983
783
934
444
67
66
61
51
62
66
4
18
4
17
10
3
1
21
1954
IV
I
IP
13
1953
644
730
Other Western
Europe
United Kingdom
Total
IP
I
559
1954
1953
271
I
IP
IV
358
1953
254
Line
11
I
IP
18
9
730
437
56
7
559
353
51
7
271
164
34
3
358
165
33
3
254
135
31
3
12
11
11
63
8
54
6
58
6
40
4
41
4
45
3
99
4
5
1
5
76
75
94
84
27
23
89
37
712
611
5
686
619
609
310
311
308
9
9
398
357
448
392
358
134
129
112
4
3
36
7
37
4
36
6
57
23
53
18
50
24
45
5
42
7
39
6
1
1
1
12
16
6
20
3
12
3
11
1
47
8
45
6
45
6
44
3
44
2
45
2
0
0
4
9
236
254
68
71
89
45
53
68
4
4
2
2
2
2
2
2
2
2
31
3
34
3
32
2
31
3
33
3
107
253
-67
376
323
111
-50
-39
47
-54
2
9
-1
-23
-28
-35
-438
-72
-98
-59
-54
-3
-3
-3
-11
-14
-12
-43
-31
-9
Q
-8
2
-3
-3
-6
-5
_i
-7
-6
-1
-11
-10
-2
-270
-100
-25
-134
-144
-23
-155
-107
-20
-37
-31
-10
-100
-2
-90
-1
-53
-1
-88
-1
-49
-1
-45
-1
-1
-25
-51
9
-64
-86
-51
9
-74
-90
-40
-15
7
-12
24
30
-14
-12
7
-9
50
-30
15
65
21
-32
10
43
-62
-30
-30
-2
9
-74
-90
-33
3
-16
-62
-50
1
-13
9
-74
(*)
-90
-22
-30
14
-6
-44
-31
21
-34
12
-18
21
9
-5
(*)
3
-8
-21
-2
13
-32
23
-1
13
11
-11
-18
8
-1
-101
-120
19
00
-12
-21
9
00
-18
-23
13
-8
-24
-27
2
1
11
-13
6
18
-18
-12
(*)
-6
30
-18
54
-6
-5
-10
2
3
-6
45
7
(*)
1
53
-8
7
(•)
78
-62
101
117
-90
-73
-35
96
5
-1
6
-3
1
1
2
79
2
78
185
4
-88
1
i
-72
1
14
-119
36
-73
-11
147
37
24
69
-7
-1
1
95
-2
-10
1
3
9
-1
-5
320
173
-64
91
118
-87
-64
-35
137
49
353
2
8
182
69
51
-41
35
(*)
-18
-111
00
4
2
5
196
2
3
4
4
33
2
361
12
9
16
-42
-37
-31
-10
-126
-24
-33
-110
-19
00
-18
76
250
IP
231
193
1
2
11
10
1
(«)
81
49
4
1
90
51
4
1
76
42
4
1
250
187
21
3
231
174
18
3
193
140
16
3
5
6
7
8
3
3
3
• 10
4
10
2
10
3
9
10
23
30
00
26
25
22
3
21
00
11
12
10
181
157
146
185
149
145
13
3
147
125
113
163
135
130
14
1
4
15
4
9
4
16
7
3
6
1
6
2
15
16
1
1
2
4
1
2
3
17
18
10
11
6
4
4
18
15
1
9
9
00
(*)
(*)
2
00
(X)
6
13
1
1
00
(*)
00
138
00
(•)
-67
-70
65
82
48
22
-5
-3
-4
-19
-44
-11
23
-5
-3
-4
-7
-4
-3
24
-12
-41
-100
00
(*)
(,)
-3
(*)
(
?
-4
o
4
-36
-18
28
-31
-30
-1
-1
-2
-3
1
13
(*)
11
2
-23
-28
7
2
-9
-14
7
29
30
31
32
-3
0
i
1
-9
-11
-13
-15
2
2
-9
-9
•1
—1
33
34
35
36
-3
+28
9
-16
37
00
38
39
40
41
-3
-2
-1
-3
-1
-4
1
00
0
-1
54
33
2
28
22
17
28
22
17
-1
52
7
-51
2
-174
17
54
7
-83
2
-188
18
77
3
oo-3
49
-9
8
53
-4
3
-3
-3
— 160
96
173
19
(X)
-145
-159
-168
320
(*)
325
-168
-176
154
115
115
-37
1
-5
7
25
26
27
-32
-1
(*)
19
20
21
(3)
2. Includes loans and returns of military equipment.
3. Military supplies and services transferred under aid programs are not shown separately
for the sterling area.
90
IV
3
4
644
440
60
7
-315
81
I
IP
(3)
21
5
-332
IV
1954
1953
1954
(3)
13
1
00
1953
1954
IV
All other countries
Dependencies
(*)
00
29
11
-1
-20
—1
-2
5
1
00
00
00
1
-1
-3
27
9
-16
43
136
75
79
-77
-11
-3
44
-1
C)
42
NOTE.—Net foreign investment equals balance on goods, services, and unilateral transfers
for "all areas": 1953: I, -523; IV, -112; 1954: I, -366.
Source: U. S. Department of Commerce, Office of Business Economics.
by Clement Winston
Sales-Inventory Position
of Retailers
OALEvS at retail stores have moved at a fairly steady rate
so far in 1954, averaging for the first 4 months of the year
2 percent below the dollar sales of the same months of 1953.
Consumer income after taxes, higher than in the early months
of 1953, has been a major factor in this relatively favorable
showing. However, the comparative weakness which has
characterized durable goods sales has reflected a less urgent
demand for large unit expenditure items, such as automobiles,
and a lessened willingness on the part of individuals to incur
installment debt.
After allowance for differences due to trading days, Easter
and other seasonal factors, April sales were higher than any
of the earlier months this year. Average sales for the first
4 months of the ^ear were at an annual rate of over $167
billion, about the same as in the fourth quarter of 1953—•
though about 3 percent below sales in the first 4 months a
year ago.
Retail commodity prices have, on the average, been quite
steady, with the current price index about the same as a
year ago and within 1 percent of the high point last summer.
It thus appears that the physical volume of goods passing
through retail channels has been rather stable over the past
year or so and is currently at a near-record rate. As pointed
out later in this review, however, there have been substantial
changes by commodities and by geographical areas.
Large changes in durables
Movements in total retail sales in the past year and a half
are to a large extent reflections of the behavior of the durable
goods market. During the year 1953 the trend of durable
sales was generally downward with fourth quarter sales, on a
seasonally adjusted basis, off about 5 percent from the high
in the first quarter. Aggregate durable sales fell further in
January 1954 to almost 15 percent below the rate in the first
quarter of 1953. From this low point, however, durable
sales picked up and, in mid-spring, had regained about onehalf of the previous decline.
Seasonally adjusted nondurable-goods sales, on the other
hand, have been well maintained in the 1953-54 period, with
sales deviating only 4 percent from the highest to the lowest
month. Sales for the first 4 months of this year have shown
relatively small monthly changes on the average. Total
nondurable sales and those of most major nondurable-goods
groups were also little different saleswise from the corresponding months a year ago.
Recent inventory developments
Retailers of automobiles and other durable goods by spring
of 1953 had replenished stocks depleted during the 1952 steel
strike, and inventories at that time were adequate for the
NOTE.—MR. WINSTON IS A MEMBER OF THE BUSINESS STRUCTURE
DIVISION, OFFICE OF BUSINESS ECONOMICS.
12
I Retailers' Sales and Stock-Sales Ratios
•
Spring business erased part of the earlier
decline in durable sales
• Nondurables continued stable
1
1
1
i
•p
ii
i
iii
§
\20
o
i
w
1
IP
1
no
NONDURABLE- GOODS
STORES
—
to
\
—
100
cr
</>
x"
S
^^^*^\s^
^ \
90 -
ALL RETAIL
STORES
2
DURABLE- GOODS STORES
\
70
\
\
\
\
\
\
\
\
\
\
\
\
\
\
\
\
\
\
\
\
\
\
• Stock-sales ratios for durable-goods stores
are still above a year ago
• Nondurables have shown little change
2.6
STOCK- SALES RATIOS
2.4 -
DURABLE-GOODS
5^?/?£-S
2,2
f
/*
\
}^J ^
r"'
2.0
\ /
V
0
K
<r
1.8 —
_,
ALL RETAIL STORES
\
^^
1.6 —
^^^^^^^^ '
__.
x^X"~"*^
NONDURABLE- GOODS STORES
1.4
1
1
p
1
p
/"
\
/
\/ x
\
80
ii
Pi
P
i
§
p
I
SALES
m9\
1.2
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
i
1953
i
1
i
!
i
1
!
1954
SEASONALLY ADJUSTED
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
54-25-4
P^^^H^^^^^^M^^^^^^IMl^^^^^^M^^^t^^^^^^^l
June 19H4
SURVEY OF CUBEENT BUSINESS
going rate of sales. Stocks continued to rise through the
late spring and summer and, with the easing of sales, led to
a reduction in the flow of business to manufacturers.
As retailers took positive action to reduce stocks, inventories rose only moderately during the 1953 third quarter
and were reduced in the final quarter. There was little
net change in book values in the first four months of this
year, with a further decline in durable stocks other than
automobiles, partly offset by a rise in nondurable goods.
While the change from accumulation to liquidation of
inventories in retailing and elsewhere had an important
impact on output and employment, the actual reduction in
retail stocks was not large. The seasonally adjusted total
of retailers' stocks moved from $22.9 billion at the end of
last September to $22.6 billion this past April. There appeared to be a tendency on the part of many retailers to
deplete the more heavily overstocked items through sales
promotions, and to follow a policy of reordering only those
items necessary to meet immediate demand.
Despite the downward movement of stocks toward the
year-end the ratio of stocks to sales had moved from 1.5
months of sales in January 1953 to 1.6 months at the year
end. This ratio has held quite stable thus far this year.
The ratio of stocks to sales currently is only slightly lower
than in 1951 and above any other year since 1939, with the
exception of 1942, when during the early months of the war
retailers rushed to stock up on prospectively scarce items.
With the modest spring improvement in sales there appears
to be no tendency at the moment to reduce retail inventories.
In large part, it was the change in durable goods sales that
caused the 1953 rise in the overall stock-sales ratio. For
nondurables, the stock-sales position has remained virtually
unchanged in the recent period holding closely at about 1.3
months of sales. For the durables, on the other hand, the
ratio moved up rather rapidly throughout 1953 to reach a
high of 2.4 in January of this year, the low point in sales.
With the book value of stocks held by retailers of durables
reduced moderately in recent months, the steady rise in
sales has lowered the stock-sales ratio in April to 2.1, about
the same as a year ago.
13
dealer services have continued at a high rate and have helped
to keep total sales of motor vehicle dealers close to year-ago
levels.
Credit buying has been a significantly reduced influence
in purchases from auto dealers so far this year. Whereas
automobile loans made a year ago represented almost 45
percent of total dollar sales of dealers, in the most recent
period such credit sales dropped to less than 40 percent of the
total. This development reflects in part the changed composition of dealer sales, as the increased relative importance
of used cars and service receipts involved less need for credit,
but it also mirrors the uncertainties associated with the substantial drop in industrial employment.
Number of New Passenger Cars
Sold at Retail
> Spring sales show seasonal rise
* January-May total 9 percent below 1953
INDEX, 1951 = 100
150
1951
125
A.-"'
X.
/f\
yy?r*—
-^ // \ ^—..
100
75
50
Automobiles dominate sales totals
Since the automotive group accounts for more than half
of the total sales of all durable-goods stores, it is clearly a
major influence upon the pattern of total durable goods sales.
The importance of these sales not only on the durables but
on the entire sales picture may be seen by noting that seasonally adjusted retail sales excluding those by motor vehicle
dealers in January of this year were only 2 percent below the
1953 first half, compared with the 5 percent drop in the
aggregate inclusive of autos. Noriautomotive retail sales in
April were about at year-ago rates.
Sales of automotive dealers, on the other hand, fell sharply
in the latter part of 1953 and by January of this year were
nearly one-sixth below the previous year. From this low
point sales picked up substantially and by spring were within
2 percent of the year-ago rate.
This improvement in sales position was more a reflection
of used car sales trends and servicing activity of dealers than
of developments in the new car markets. New car sales
have shown significant recovery from the January low point,
but have been consistently below the year-ago position. For
the first five months of 1954, the number of new car sales
was about 9 percent below the previous year.
On the other hand, the used car market has been relatively
good in recent months. Sales volume improved from a year
ago, while the average prices of used cars which had been
declining for about a year, reached a low point in February
and have since indicated firming tendencies. Receipts for
J
25
J
F
I
I
M
A
M
J
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
I
J
I
I
I
0
I
N
D
BASIC DATA: B. D.S-A.
54-25-5
Automobiles had a special position in the recent inventory picture. Following the abnormally low point caused
by the 1952 steel stoppage, retail passenger car stocks rose
sharply through last September, and then were reduced
moderately during the 1954 model changeovers. The rise
was resumed in early 1954. This pattern in automobile
stocks along with pronounced changes in sales has resulted
in wide fluctuations in stock sales ratios.
In February a year ago, low stocks combined with high
sales resulted in a stock sales ratio of 1.1 months of sales.
With sales declining and stocks generally higher the ratio
had risen to 1.7 in January of this year. Dealers' stocks
remained steady during the late winter and early spring
months, and with sales increased, the inventory position
of motor vehicle dealers was also somewhat improved.
Currently, the stock-sales ratio represents 1.4 months of
sales, about equal to the average for the last half of 1953.
The sales and inventory positions of other major durable
oods groups have been subject to much more moderate
actuations in the recent past. Furniture and appliance
f
14
SUEVEY OF CUEEENT BUSINESS
store sales declined about 4 percent from the first to the
second halves of 1953, but so far this year seem to have
almost entirely recovered. Inventories held by this group
of stores have been held virtually constant since early 1951.
While the stock-sales ratio is about the same as a year ago,
it is higher than in the opening months of 1951.
June 1954
1953
1954
I
I
a major factor in the growth of integrated suburban shopping
centers in which giant supermarkets are points of focal
interest. A good part of the relative gain by these stores
has reflected diversification of sales items with "rack"
merchandising ranging from magazines and Pharmaceuticals
to phonograph records and durable housewares. Existing
stores have also been remodeled or moved to larger quarters.
The basic underlying factor in the postwar expansion of
food store sales has been the high and rising incomes of
consumers. Since 1946—and after an apparent upward
shift from prewar in food expenditures relative to income—
outlays for food have increased by more than 50 percent,
approximately the same relative increase as in disposable
personal income over the same period. Total spending on
food currently takes slightly more than one-fourth of disposable income—before the war the proportion was typically
somewhat less than one-fourth.
172, 362 172, 466 170, 098 168, 306 167, 227
62, 060 61, 526 59, 526 58, 642 56, 761
70.2
25.3
66.3
22.3
Other nondurables show mixed trends
Nondurable-goods stores.
110, 302 110, 939 110,571 109, 664 110, 466
Automotive group
- 33, 966 34, 175 32, 526 32, 578 30, 761
Furniture and appliance
group
__
-__ .
9,233 9,001 8,948 9,296
9,410
Lumber, building, hardware group
10, 552 10, 242 10, 608 10, 275
9,723
45.0
13.8
44.0
11.9
3.8
3.7
4.3
3.9
Many of the other nondurable goods groups have also
exhibited continuing high sales over the recent period. Sales
at eating and drinking places have been well maintained.
Gasoline service stations have shown a steady upward trend
in sales, which reflects in part the continuing increase in the
number of motor vehicles on the road. Sales in these
establishments are currently about one-tenth above a year
ago.
Apparel was one of the nondurable groups showing a good
deal of weakness in the latter part of 1953, and such sales
have been low relative to income in the past year. In the
last 6 months of 1953 seasonally adjusted sales of apparel
stores were about 8 percent below the first half of the year.
However, there was some recovery at the year end. The
average for the first 4 months of the year was 5 percent below
the year ago figure.
Table 1.—Retail Store Sales and Sales-Income Ratios
Sales at seasonally adjusted annual rates
[Millions of dollars]
1953
'
All retail stores
Durable-goods stores
II
1954
III
IV
Jan.Apr,
Sales as percent
of disposable
personal income
Apparel group Drug and proprietary
stores _ _ _
10, 760
10, 794
10, 034
9,692
10, 220
4.4
4. 1
4,894
4,842
4,682
4,742
5,015
2.0
2.0
Eating and drinking places.
Food group
Gasoline service stations
General merchandise group.
13, 050
40, 487
10, 256
18, 741
13,018
13, 169
41, 164
10, 528
19, 115
12, 758
40, 828
10, 960
18, 912
12, 956
40, 523
5.3
16.5
4.2
7.6
5.1
16.2
40, 671
10, 307
19, 151
11,117
18, 384
ti
Source: U. S. Department of Commerce, Office of Business Economics and Bureau of the
Census.
Sales by the lumber, building, and hardware group fell off
at the close of 1953 and dropped further this year. For the
first 4 months on a seasonally adjusted basis they were 7
percent below the average for the first half of 1953.
Inventories at lumber-hardware stores remained relatively
constant throughout 1953 but stocks were gradually worked
off in the opening months of this year. As the spring building season got underway the stock-sales ratio was about equal
to a year ago.
Grocery store sales high
Grocery stores have contributed importantly to keepingaggregate retail sales at a high rate. These stores, as a
group, account for almost one-third of nondurable goods
store sales and about one-fifth of total retail sales.
In the first four months of this year grocery store sales
were 3 percent higher than a year ago. This increase contrasts with all other soft-goods stores which, combined, were
off slightly from early 1953 rates. On the average, food
prices have changed very little over the past year and a half,
indicating that the physical volume of grocery store purchases is somewhat above the high rate in early 1953 and
about the same as in the latter part of that year.
A major share of the dollar gain shown in recent years for
grocery stores has accrued to the larger chains. Sales of
grocery chains with 11 or more outlets, which now amount
to 38 percent of total grocery store sales, accounted for the
major part of the sales increase in this field over the past
year.
The recent gain in the relative importance of grocery
chains reflects a continuation of the long-term trend to chain
operation in this field which was interrupted briefly during
the war years. It may be noted that nonfood chains generally did not increase their proportion of total sales over the
past few years. Faster and easier transportation, made
possible primarily by greater use of the automobile, has been
Sales and income
An important factor in the retail sales position in the
recent period has been the maintenance of consumers7 disposable income. Although total personal income has declined, the reduction in income taxes tended to keep first
quarter disposable personal income steady. Since sales in
this period had edged downward, the ratios of sales at retail
stores to disposable income declined further—from over 67
percent in the fourth quarter to a little over 66 percent in
the first. This is down from an average of 69 percent in
1953 and 70 percent in 1951 and 1952, though still above the
ratios reached in years prior to World War II.
The more recent changes in the ratio were confined mostly
to the durable goods category. The rate for all durable
goods stores fell from 25 percent in the first quarter of last
year to 23% percent in the fourth quarter and to about 22%
percent in the first 3 months of 1954. The proportion of
disposable income spent at nondurable goods stores, at 44
percent in the first quarter of this year, was unchanged from
the fourth quarter and 2 percent lower than in the year-ago
quarter.
The lower figure for the durables reflected mainly the
changes in automobile sales. For the remaining groups of
durables, declines of much more moderate proportions have
occurred in the last year.
In the automotive group, first quarter 1954 sales were
equal to about 12 percent of disposable personal income as
compared with almost 14 percent in the first 3 months of last
year. The rate at the present time, however, is still half
again as high as it was in prosperous years prior to World
War II.
SURVEY OF CURRENT BUSINESS
June 1954
Sales of nondurable goods stores as a whole are currently
at about the same position relative to income as they were
in the years immediately prior to World War II. The only
groups showing a rate significantly different are food—
which is higher—and apparel and general merchandise which
are lower than prewar. In the recent period, most lines of
trade have shown relatively small changes in their salesincome ratios—with groceries, drugs, and gasoline service
stations the only major groups showing increases from early
1953.
Department Store Trends
Department store sales are of special interest in any
analysis of retail distribution. They deal in a great many
diversified lines and are important sources for most commodities other than automobiles, lumber and building materials, food, and gasoline. The information available from
the Board of Governors of the Federal Reserve System on
department stores is much more detailed than that on other
types of stores—making possible cross section analyses not
available for broader areas of trade.
Total sales of department stores declined by about 2 percent in the second half of 1953 and fell off about the same
amount, on the average, in the first 5 months of this year.
March was a low point with sales down nearly 9 percent from
a year ago, after adjustment for the incidence of Easter
which came on April 18 this year and on April 5 last year.
April sales fared better, however, with seasonally adjusted
figures for the month up about 5 percent from March and
about the same as a year ago. Good weather conditions
undoubtedly were an influence in the April rise, since the
entire country shared in a generally mild Easter period. Department store sales in May held at the April rate on a seasonally adjusted basis. April-May sales are a high point
thus far for the year 1954, though below the high of last year.
It is still too early to assess the effect on retail sales of
lower excise taxes. At the time of writing, data usable for
this purpose are available only for a few departments of
department stores for the month of April.
Jewelry and silverware experienced a significant change
in the pattern of sales for April. Sales for this department,
which had exceeded the previous year through most of the
months of 1953, fell below in the important month of December by 4 percent. The decline deepened in the first quarter
of this year with March sales about 11 percent below a year
ago. In April, sales exceeded the previous year by 13 percent.
The effect of Easter on sales in the silverware and jewelry
department is probably small. March sales were undoubtedly lower due to anticipation of a tax reduction, and it yet
remains to be seen whether the April increase represented
deferred purchases or an actual stimulation in demand. The
effect of the reduction in excise taxes was also noticeable in
other departments handling taxable items—although in
such departments as furs and handbags and small leather
goods it is difficult to isolate the tax effect from that of the
changing Easter date.
New orders turn up
Department Store Sales
By Federal Reserve Districts
I
15
PERCENT INCREASE
10
15
I
20
25
4- Jcm.-Apr. 1950 to Jon- Apr. 1953
UNITED STATES
Jan.-Apr. 1950 to .
Jan.-Apr. 1954
San Francisco
Atlanta
Dallas
Richmond
Cleveland
Kansas City
New orders placed by department stores, which for some
months have been running above those for the previous
year, were quickly curtailed in mid-1953 in response to the
easing in sales and rising inventories. By January of this
year, new orders were about a sixth below those placed in
January a year ago. Despite the decline in sales, this
policy resulted in reducing inventories about 10 percent
between August and February, on a seasonally adjusted
basis. By the end of last year, the value of stocks had
returned to year ago rates.
Sales strengthened somewhat in February and new
orders picked up. In March and April new orders were
about equal to those placed a year ago.
Outstanding orders exhibited a similar pattern of behavior. Their total in 1953 ranged above the corresponding
months of 1952 until the middle of the year, and then dropped
below. In January of this year outstanding orders were
nearly a fifth below the previous year. By April, however,
they were about one-seventh below the same month last year.
Sales by departments
Chicago
St. Louis
Philadelphia
Boston
Minneapolis
New York*
~ SAME CHANGE FOR BOTH PERIODS.
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
B A S I C DATA: FR.B.
54-25-6
The sales behavior exhibited by the individual departments of department stores is generally not significantly
different from that previously indicated for retail stores
handling related commodities. In general there was evidence
of a decline that began during 1953 with indication of some
leveling off or a slight improvement in the most recent
months.
The homefurnishings department, which includes such
items as furniture and bedding, durable housewares, major
household appliances, and radio and television showed a sales
trend somewhat similar to that of furniture and appliance
stores.
For these departments as for the furniture and appliance
stores, sales in the first 8 months of 1953 were greater than in
the corresponding period of the previous year, and fell below
thereafter. The indicated decline was greater in the case of
SUEVEY OF CURRENT BUSINESS
16
the homefurnishings department at department stores than
for the furniture and appliance stores. In addition, more
signs of recovery are currently shown for the furniture and
appliance stores than for these departments. To a large
extent, the latter divergence is due to appliance sales; there is
little difference in the recent sales trends in furniture between
department stores and furniture stores.
Some of the differences in sales experience are due to the
varying distribution of commodities at the two kinds of
stores. It is therefore of interest to examine several of the
groups included under the general head of furniture and
furnishings.
Radio, television and music sales
In these lines, sales in 1953 were well below those in 1952
in almost every month of the year, with total 1953 sales down
nearly a tenth from the previous year. Stocks increased
through most of the year so that the stock-sales ratio advanced considerably. A reduction in stocks began late in
1953 and has continued into the early months of this year.
In the last few months, however, the sales of the radio and
television departments have picked up. A somewhat larger
rise in sales was registered at appliance and radio stores in
these 2 months.
Major household appliances
Sales of major appliances dropped below the previous year
early in the second quarter of 1953. Since then, however,
they have followed the previous year pattern rather closely,
thus suggesting changes primarily seasonal in nature. Sales
at appliance and radio stores, as indicated, showed more
improvement in recent months but there is no commodity
break available for comparison.
Table 2.—Percentage Changes in Department Store Sales, by
Districts
Jan. -Apr. 1950 Jan.-Apr. 1953 Jan.-Apr. 1950
to
to
to
Jan. -Apr. 1953 Jan.-Apr. 1954 Jan.-Apr. 1954
United States
Boston
Now York
Philadelphia
__
Cleveland
Atlanta...
Richmond
..
Chicago
Minneapolis— .
Kansas City__
St. Louis
Dallas
--.
San Francisco
.
14
-4
10
. . .
7
5
11
—1
0
—3
6
5
8
_ __„
14
20
20
— 10
_2
—4
3
18
15
13
6
14
-2
—4
9
4
9
_.
_-.
-.
12
20
20
—2
-6
10
13
11
Source: Board of Governors of the Federal Reserve System.
Stocks in this department had been steadily reduced
throughout 1953, declining by about 10 percent for the 37ear,
and have been held steady so far this year. The year-to-year
reduction in stocks paralleled the decline in sales, so that
the stock-sales ratio was unchanged from a year ago.
Furniture and bedding
During 1953, furniture and bedding sales exceeded the
corresponding months of 1952 through September and held
close in the fall. These sales last December fell about 8
percent below a year ago and have remained at this rate since
the turn of the year.
Stocks were increased somewhat through most of 1953.
Only early this year did there appear evidence of some stock
reduction in this department.
June
Men's and ivomen's wear
In both, the sales experience is slightly different from that
indicated in sales at men's and women's apparel stores.
There had been a decline in sales at apparel stores in the
last half of 1953 with the recovery that started at year's
end bringing total sales in 1954 close to year ago figures.
At department stores, sales of these 2 important departments stayed close to the year ago position throughout 1953
and also thus far in 1954. There appears to be no evidence
of any change in the pattern of sales in 1954 from 1953 if
allowance is made for the offset of the varying date of Easter.
Stocks of men's and women's wear at department stores rose
in 1953. Only slight stock reductions are evident thus far
this year, and the current stock-sales ratios are higher than
a year ago.
Regional variation in sales
Department stores not only are important distributors of
a wide variety of commodities but also are located in large
cities and suburban areas throughout the country. The
pattern of department store sales thus gives some indication
of the regional variation in retail activity in a fairly wide
composite of products.
A comparison of the changing sales sines 1950 by regions
is given in the accompanying table and chart. Taking first
the period from immediately pre-Korea to early 1953, it
would appear in general that States in the West and South
have fared much better than average in the national sales
picture, which for all department stores involved an increase
of about 14 percent. As can be seen in the chart, sales in
the San Francisco, Dallas, Atlanta and Richmond districts
rose one-fifth during this period.
Four districts in the mid-west had relative sales increases
clustered around the national average. Only the north and
eastern districts—New York, Philadelphia, Boston and
Minneapolis lagged below the overall trend for department
stores with increases ranging from 5 percent in the New
York area to 11 percent in the Philadelphia area.
Department store sales in the first 4 months of this year
fell 4 percent from the corresponding period of 1953, but
were still 10 percent above early 1950. With some notable
exceptions, it would appear that, those areas which underwent the largest increases in sales in the 1950-53 period
also tended to experience the greater declines in sales over
the past year, while lesser reductions occurred in regions
with more moderate post-Korean expansions.
Thus the San Francisco district with one of the largest
early
gains also showed one of the larger declines this past
\7ear. On the other hand, the New York and Boston area
department stores maintained their sales fairly well from
early 1953 to early 1954.
In general, it may be noted that the districts which fell
relatively more than the United States average, namely the
Cleveland, San Francisco, Dallas, Richmond, and Kansas
City districts, are those in which there is concentration of
heavy industrial activity and/or considerable reliance on
farm income.
The Cleveland district, which includes cities such as
Pittsburgh, Cleveland, Toledo, and Cincinnati, is strongly
influenced by the volume of operations in steel, machinery,
and metal fabricating plants. Because these industries were
particularly active through the first half of 1953, employment
was high in this district. In the latter part of last year and
the early months of this year, activity in many heavy industries fell well below capacity. The most recent reports
on sales from this district do not show participation in the
overall sales increase in recent months.
(Continued on p. 23)
by Genevieve B. Wimsatt
Manufacturers' Orders and
Inventory Position
brought some improvement in manufacturing
activity. Incoming new business and the volume of shipments
were both showing modest recovery after months of decline.
Shipments remained above production as the reduction in
inventories continued. Business stayed below the peak
rates of a year ago with the differential greater for new orders
than for deliveries. Backlogs of unfilled orders on manufacturers 7 books have continued to decline.
The adjustments in economic activity since the high in
national output last summer have been most pronounced
in manufacturing, which accounts for about a third of total
employment and total national income. Factory employment has declined 11 percent from a year ago and the downward movement extended into May. The decline in factory
emplo3^ment centered in the durable-goods
industries where
the number of workers in Ma}7 was 14 percent below May
1953. In the nondurable-goods industries, the number of
wage earners was within 6 percent of last May.
Companies in heavy-goods industries had earlier experienced a large expansion in response to the rapid step-up
of defense production and the concomitant increase in
demand for consumers' and producers' durable goods.
Output turned down last summer in response to reduced
spending for military and consumer durables. The decline
in demand became progressively larger through the first
quarter of this year. In addition, expenditures for producers'
durable equipment also eased moderately after the third
quarter of 1953. With inventory shifts accentuating the
movement, the production of durable goods has declined
about one-eighth since last summer.
Events of the past year have also had some effects on the
output of nondurable-goods manufacturers. The demand
for soft goods, however, has been better maintained, and
the decline in output by the nondurable-goods industries
has been more moderate than in durables.
The shifts in demand had an initial impact on the volume
of orders placed for manufactured products. This led to
a review of production schedules and the volume and
composition of their inventories. Although output was
cut back, sales initially fell more, so that inventories rose
through early fall. Liquidation started in October and
has continued—at least in durable-goods areas—into May.
Trends in Sales and New Orders
Since the middle of last year, there has been a contraction
in the flow of manufacturers' goods to customers. The
seasonally adjusted rate of deliveries this spring was 8 percent under the July record—a lesser decline than in production due to the drawing down of inventories. The trend
in factory shipments was downward through February of this
year, but since then deliveries have edged up.
The decline in sales—as in employment—has been centered largely in the durable-goods industries. Late spring
NOTE.—MISS WIMSATT IS A MEMBER OF THE BUSINESS STRUCTURE
DIVISION, OFFICE OF BUSINESS ECONOMICS.
sales of these producers were off by one-seventh, while the
aggregate value of shipments by the soft-goods industries
was about equal to those in midsummer 1953. The spring
months brought a halt to the downtrend in deliveries of
durable goods. Moderate pickups in sales of motor vehicle
and electrical equipment companies have been the prime
factors in the 2 percent increase in shipments for the group
as a whole since February.
Within the framework of the general downward movement
in durable-goods sales since last year, there has been a wide
diversity of experience among industry groups and among
individual firms. Some of the variations in industry patterns will be highlighted later. A tally of the sales position
of a representative group of manufacturing companies during the first four months of this year compared with the corresponding period a year ago indicates that thirty percent
of the firms in durable goods had higher shipments this year,
with more than one-half of these companies reporting increases of 10 percent or more. However, more than half
of the durable-goods companies studied, experienced sales
declines of more than 10 percent.
The relatively more favorable experience of nondurablegoods producers during this period is shown in the following
table:
Manufacturers' Sales: Percent Change Jan.—Apr. 1953 to Jan.-Apr.
1954
Change in sales
Increase of 10 percent or more__.
Increase of less than 10 percent..
Decrease of less than 10 percent.
Decrease of 10 percent or more_.
Durable Nondurable
goods
goods
Percent of firms
17
12
16
55
22
24
24
30
Percent change in sales
All firms_
-12
0
The diversity between the groups was also noticeable
among the component industries—with one-third or more of
the firms in each major durable-goods industry reporting
sales declines of 10 percent or more.
Movement of new orders
New orders provide one measure of the current and future
demand for manufacturers 7 products. This series usually
leads the sales series in business turning points, although for
many companies orders are filled from stock, so that new
orders are equivalent to sales. Such latter cases tend to
obscure the lead of new orders over sales when the data are
aggregated for groups of companies. Furthermore, the
interpretation of the new orders-sales position must be
considered in relation to the volume and trend of unfilled
orders. Where unfilled orders-sales ratios are high, and
unfilled orders increasing, a declining new orders trend need
not necessarily presage an imminent drop in shipments.
Three points stand out in a comparison of the trends in
sales and orders during the 1953-54 period. First, new
17
SURVEY OF CURRENT BUSINESS
18
orders began their decline about 2 months sooner than sales;
second, new orders declined relatively more than sales, and
finally, orders moved up 1 month earlier than sales.
The value of new orders reached a peak in May of last
year in contrast with a July peak for sales. Incoming business was at a low this January—some one-fifth lower than
last May, while the sales low this February was 11 percent
below the 1953 high.
The impact of the reduced demand for durable goods was
especially noticeable in the orders data. For this group,
new orders dropped more than a third in contrast with a
one-sixth decline in sales. New orders for nondurable goods
fell 5 percent in this period. The moderate spring pickup
however, has been a little stronger for heavy-goods producers.
Orders for durable goods rose in February and March, and
showed little change in April. Since February, shipments
by durable-goods producers have been stable to slightly
higher.
June 19fv4
Adequate statistical series on gross new orders and cancellations are not available separately due to the relatively
small number of companies maintaining canceled orders
records. In the absence of such information, a special tabulation for 1953 and the first 4 months of 1954 was made of
orders—gross, canceled, and net—of a sample of 400 com-1
panies in all durable-goods industries, except motor vehicles.
Net new orders of this sample of companies comprised one-
Durable-Goods Manufacturers
16
16
NEW ORDERS
^(LEFTSCALE)
12
12
Backlog of orders
The effects on backlogs of changes in new orders and sales
are shown in the chart. During the first three quarters of
1952, new orders received each month by durable-goods
producers were larger than the value of deliveries, with
consequent additions to backlogs. From then on orders
have been below shipments. The consequent reduction in
backlogs is measured in the chart by the areas between the
two lines. For the heavy-goods producers, unfilled orders
currently represent more than 4 months of durable-goods
shipments, as compared to over 6 months in September
1952, and about 2% months in June 1950.
Within the durable-goods group considerable differences
appear in the size of unfilled orders-sales ratios among
industries and even among companies within a given inTable 1.—Durable-Goods Manufacturers'
Unfilled Order-Sales
l
RATIO OF UNFILLED ORDERS TO SALES
(RIGHT SCALE)
1J 0
1952
1953
1954
NOTE: NEW ORDERS AND SALES ARE SEASONALLY ADJUSTED;
UNFILLED ORDERS ARE END OF MONTH.
OFFICE OF BUSINESS ECONOMICS. U. S- O. C.
Ratios
1950
II
All durable-goods
dustries
in-
19 54
19 53
I
II
III
IV
I
April
2.60
5.68
5.30
4.96
4.69
4.46
4 31
Primary metals
Fabricated metals
2.79
2.90
3.38
5.09
3.12
4.43
2.79
4.45
2.78
4. 14
2.67
3.44
2 55
3 18
Electrical machinery. ._ _ . _ .
Machinery (excluding electrical)
3.98
8.83
8.55
7.93
7.62
7.20
6.88
2.79
4.87
4. 55
4.28
4.07
3 62
3 55
Transportation equipment (including motor vehicles)
2.50
9.31
8.67
7.95
7.62
7.28
7.15
Other durables
1.70
2.47
2.29
2.27
1.80
1.83
1.74
1. Unfilled orders end of period to average seasonally adjusted sales during period.
Source: U. S. Department of Commerce, Office of Business Economics.
dustry. The highest ratios, both for the group and for
individual firms, are in aircraft manufacturing. For durable
goods other than aircraft, the ratio is a little over 3 months,
or about the same as in 1941 and 1948—although lower
than a year ago.
Gross new orders and cancellations
The orders figures in the chart measure the net new business placed with manufacturers—that is, gross new orders
less cancellations. In a period of declining defense spending,
military contract cancellations may obscure diverse trends
in other segments of manufacturing since the data do not
permit segregation of this information.
fifth of the total orders in these industries. The results
obtained are to be interpreted as only indicative of trend
since the group comprises a subsample of the total companies reporting sales and orders data.
The results of the tabulation show a substantial growth
in canceled orders for durable goods since the spring of
1953, reaching a peak at the end of the third quarter of
last year. The volume then receded somewhat in the final
quarter of 1953, but advanced this winter. Recent months
brought an easing in cancellations and the March-April
average was little different from a year ago.
The course of gross new orders in 1953 was generally downward through the early months of this year. Gross new
orders have recovered some ground since then although, still
below year-ago rates. As a consequence, concellations as a
proportion of gross new orders are also above last year.
During the first two quarters of 1953—a period of high
activity—the proportion averaged about 7 percent. Cancellations of durable goods represented over 15 percent of
gross new orders in the third quarter, and then averaged a
little over 10 percent during the fourth quarter. The ratio
rose somewhat this winter, but dropped back to less than
10 percent in March and April.
From the patterns in the gross new orders and cancellations data, it is apparent that both series contributed to the
decline in net new orders over the past year. The rescheduling inherent in changed military programs since mid-1953
gave rise to sizable revocations and changes in terms of con1. Some important motor vehicle producers report unfilled orders on defense accounts
only.
SURVEY OF CURRENT BUSINESS
June 1954
Table 2.—Manufacturers' Inventory-Sales Ratios
[Adjusted for seasonal variations]
AH manufacturing industries
Durable-goods industries
19 54
1948
1950
1953
I
I
I
I
1.69
1.75
1.78
1.93
1.86
April
1.94
1.94
1.94
2.30
2.22
Primary metals
Fabricated metals
Electrical machinery
1.51
1.69
2.52
1.64
1.95
2.13
1.44
2.03
2.29
2.14
2.55
2.51
2.06
2.38
2.36
Machinery (excluding electrical)
Motor vehicles and equipment
Transportation equipment (excluding motor
vehicles)
2.57
1.68
2.77
1.44
2.55
1.38
2.81
1.68
2.74
1.58
3.47
2.53
2,70
2.88
2.92
1.50
1.60
1.62
1.60
1.54
Food and kindred products
Textile-mill products
Apparel
Leather and products
1.04
1.84
1.43
1.73
1.02
2.07
1.63
1.96
1.04
2.30
2.08
1.96
.95
2.39
2.22
2.10
.90
2.29
1.98
2.04
Paper and allied products.
Chemicals and allied products
Petroleum and coal products _ _
Rubber products
1.43
1.86
1.16
2.17
1.35
1.70
1.50
2.20
1.51
1.77
1.27
1.97
1.50
1.90
1.25
2.35
1.45
1.76
1.27
2.19
Nondurable-goods industries
___ _
Source: U. S. Department of Commerce, Office of Business Economics.
tracts. Businessmen not only were cutting back or canceling
orders already placed but were cautious about additional
commitments.
The effects are reflected in the experience of nonautomotive transportation equipment companies in the sample
studied. This group, which has the largest backlog of
defense orders, had one of the highest average ratios of
canceled orders to gross new business. The value of cancellations received by transportation equipment producers
in March and April was considerably below January and
February, but above year-ago rates.
Definitive comparisons between industries in the severity
of impact of cancellations cannot be made. However, all
the major metals producing and fabricating groups
apparently saw their peak rates of orders cancellation in the
third quarter of 1953. On the other hand, in the furniture
and stone, clay and glass industries—where defense work is
very small—the high in cancellations occurred in the final
quarter of last year.
Primary metal producers reported an average ratio of
cancellations to gross orders in the last year almost as high
as for the transportation equipment group. While the average
for the latter was raised by two exceptionally high months—
September and February—that for primary metals was
substantial in most months. The practice of placing duplicate orders with several mills dwindled and, as metal
supplies became plentiful and demand for metal products
eased, needs for basic materials were increasingly met by the
drawing down of inventories.
Electrical machinery manufacturers reported the lowest
rate of cancellations to gross new business of any group.
Their highest rate occurred in February of this year, largely
because of terminations and changes in military contracts.
An important factor in the generally strong position in this
industry has been the continuing high capital outlays by
electric power companies.
Inventory Developments
The seasonally adjusted value of manufacturers' inventories reached a peak of $47 billion at the end of last September. While book values continued to rise in the third
quarter, the rate of increase rapidly diminished in this
period. (See chart.) By the fourth quarter the correction
19
had resulted in a moderate liquidation, and the inventory
trend has continued downward since the first of the year.
In the 7 months from the end of September to the end of
April, inventory values dropped by $2 billion—practically
all in durables. At the end of April, seasonally adjusted
durable-goods inventories totaled $25.4 billion, down 6
percent from early fall and about $100 million above April
of last year. At $19.9 billion, nondurable-goods inventories
were unchanged from a year ago, and 1 percent below
September.
Stock-sales ratios
As a result of the recent sizable changes in sales and inventories, the stock-sales ratios in durable-goods industries
have shown considerable movement over the past year.
April inventories at 2.2 months of sales were about onesixth higher relative to sales than in April of 1953 and little
different from the fall position. As a frame of reference,
durable-goods stock-sales ratios were somewhat over 1.8
in April 1950, and just under 2 months in April 1948. The
April 1954 ratios of all major durable-goods industry groups
were above the corresponding periods of 1950 and 1953.
This was particularly true in primary and fabricated metals,
and moderately so in both the electrical and nonelectrical
machinery groups.
Changes in Manufacturers' Inventories
Durable-goods stocks were reduced substantially
in the first quarter
Liquidation continued through April
Changes in nondurable-goods inventories have
been quite small for more than two years
i.o
NONDURABLE-GOODS INDUSTRIES
- .5
1952
1953
1954
QUARTERLY CHANGES IN BOOK VALUES,
SEASONALLY ADJUSTED
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
20
SURVEY OF CURRENT BUSINESS
The current stock-sales ratio in nondurable goods manufacturing is lower than in the past fall and winter and about
the same as in the spring of 1950 and 1953. By industries,
current ratios in textiles and rubber are appreciably above
1950 and 1953, while food ratios are lower.
A somewhat similar picture emerges when the current values
of manufacturers' inventories are evaluated in terms of their
average historical relationship to sales. In this comparison
sales are lagged about 6 months—since past experience
indicates that on the average a change in the sales trend is
reflected some 6 months later in a similar change in the course
of inventories. Last year, sales were at highs in May and
again in July; inventories peaked in September.
Inventories by stage of fabrication
The amount of investment or disinvestment in inventories,
in a period of changing business conditions, is the result of
differing and sometimes opposing or offsetting movements in
various categories of stocks. Some light is thrown on such
movements
when inventories are classified by stage of fabrication.2 A useful breakdown from the point of view of the
individual manufacturer is a three-way classification: Finished goods or stocks ready for shipment, goods
in process,
and raw or purchased materials and supplies.3 When finished goods are aggregated for a group of manufacturers,
some commodities are included which will undergo further
processing after they are sold, but all have the common
characteristic of being ready for sale by the owning firm at
the time of the classification.
The optimum amount of finished goods to be held by a
company is usually the minimum with which orders can be
efficiently met. They are usually expanded with rising sales,
though less than proportionately. When sales are declining,
increases in shipping stocks are usually indicative of involuntary additions to inventories.
Goods in process usually fluctuate with current production,
while the purchased materials category is generally geared
to planned future output—although other factors such as
price and supply expectations are important in policy decisions. Both of these categories of inventories also may
contain unintended elements of increase in a period of contracting business—because of failure of anticipated sales to
materialize and unexpected orders cancellations by customers,
as well as inability to cancel all undesired orders outstanding
with suppliers. Adjustments are usually made more quickly
in these groups, however, and data available back to 1939
indicate that the purchased materials category has the
shortest sales lag, goods in process the next shortest, and
finished goods the longest.
Purchased materials and in-process stocks
The sharp buildup of stocks of purchased and raw materials
in the initial stages of the defense program was evident in
1950 and 1951 when this category accounted for 40 percent
of the $14 billion book value increase in those years. In
1950 the rise was about equally divided between durableand nondurable-goods producers, but in the next year softgoods manufacturers eased their additions to working stocks.
During 1952 there was a small liquidation in purchased
materials, centering in nondurable goods.
The buildup by durable-goods producers continued
in 1952, but this increase was offset as a result of the
2. Recently revised data in the statistical series on manufacturers inventories classified by
stage of fabrication are shown in table 3 from 1950 to 1954. Data for prior years have been
published in the SURVEY OF CURRENT BUSINESS: 1939-47 in the May 1953 issue; 1948 in the
March 1952 issue; and 1949 in the March 1953 issue. These figures are not adjusted for seasonal
variation, so that month-to-month comparisons within a year may lead to some distortion in
estimating underlying movements.
3. A classification using similar terminology is sometimes made of all commodities in the
productive process. In this system finished goods refers only to goods ready for the final consumer; raw materials those upon which there has been no processing.
June 1954
2-month stoppage in steel output. Last year there was
little change in this category as very moderate liquidation
by nondurable-goods industries was almost offset by the
slight accumulation in the heavy-goods area. During the
first 4 months of this year, larger than seasonal liquidation
continued in both durable- and nondurable-goods industries.
The decline was nearly twice as large as in the first 4 months
of last year.
Accumulation in the goods-in-process category did not
reach its peak until 1951 and was about the same in 1952
as in 1950. Practically all of this increase was in durablegoods industries, as goods in process constitute a very smaL
part of soft-goods producers' inventories. These working
stocks continued to increase during the first half of 1953,
but showed a net liquidation as output was reduced in the
second half. Goods in process have shown little change
so far this year and are currently somewhat below the spring
of 1953.
Stocks of finished goods
Shipping stocks showed little change in 1950, but sharply
increased in 1951 for both durable and nondurable goods.
This resulted in part from the need to replenish stocks after
the buying waves in late 1950 and to accommodate the rising
volume of demand. Sales of consumer goods, however,
slowed in early 1951 and involuntary accumulations of many
types of consumer commodities resulted.
The rise for the year was about equally divided between
durable- and nondurable-goods industries. The next year—
1952—brought relative stability to finished-goods stocks,
with little change occurring in either soft or hard goods.
Again in 1953, finished-goods stocks rose sharply. Continued accumulation by the durable-goods industries during
the first 4 months of this year has been about offset by
liquidation in the nondurables.
The relation of each of these categories to current sales
may be compared with that in the high volume peacetime
year of 1948. Purchased materials held by durable-goods
producers have been lower relative to shipments than in 1948
for nearly all of the period since the beginning of 1950.
Currently the value of purchased materials inventories is
about a fourth higher than in 1948 while sales are about half
again as large. The lower ratios in 1951 and 1952 were in
part due to restrictions imposed under Government allocation of basic materials while a factor in the recent situation is
that raw materials prices now are lower relative to prices of
manufactured goods than they were in 1948.
The situation is quite different with respect to the other
categories of durable-goods stocks—goods in process and
finished goods. Since the middle of 1951 they have been
substantially above their 1948 relationship to sales. Currently their value is about twice that of 1948 compared to
the 50 percent increase in sales. In large part, the explanation for the considerably higher volume of goods-in-process
inventories lies in the substantial volume of durable-good^
inventories which are now earmarked for defense contracts.
Many hard goods for military usage have very long production periods and hence remain in goods in process for a
considerable time. While the book value of goods-in-process
inventories of durable-goods producers is little changed from
a year ago, the decline in sales has resulted i i a currently
higher ratio of these stocks to sales.
Stocks of finished goods were considerably higher relative
to sales than in 1948 from the middle of 1951 to the third
quarter of 1952. The ratio then fell, but again in the middle
of 1953 finished goods stocks began to exceed the 1948
relationship to sales.
The situation in nondurable-goods industries relative to
1948 is similar to that described for durable goods—except
SURVEY OF CURRENT BUSINESS
June 1954
21
Manufacturers' Inventories and Inventory-Sales Ratios
DURABLE-GOODS
TRANSPORTATION EQUIPMENT,
EXCEPT MOTOR VEHICLES
MOTOR VEHICLES
a EQUIPMENT
ELECTRICAL MACHINERY
a EQUIPMENT
PRIMARY METALS
INDUSTRIES
4.0
-x
<»
§ 3.5
I 3.0
ctj 1
'£: ^ 2.5
P
S *••»
2.0
I
1.5
1
'feS
3
2
I! ,
NONDURABLE-GOODS
FOOD 8 KINDRED
PRODUCTS
INDUSTRIES
PETROLEUM a
COAL PRODUCTS
CHEMICALS a
ALLIED PRODUCTS
TEXTILE-MILL
PRODUCTS
4.0
3.5
3.0
2.5
2.0
«
1.5
3
2
\
0
1952
1953
54
1952
S
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
E
A
S
1953
O
N
A
1952
54
L
L
Y
A
D
1953
J
U
S
54
T
E
1952
1953
54
D
54-25*9
SURVEY OF CURRENT BUSINESS
22
that deviations from the ratios in the earlier year are considerably smaller. Finished-goods inventories are now
higher relative to sales than in 1948, and purchased materials
are somewhat lower. Goods in process which are relatively
small in the soft-goods industries bear about the same
relationship to sales as in 1948.
June 1054
little higher in relation to shipments than last year, while
purchased material inventories were a little lower. Each of
these stock categories is equivalent in value to about seventenths of 1 months sales. Goods in process were less than
one-fourth of monthly sales and have shown little movement
over the year.
Summary of position
Review of Industry Trends
Changes over the past year in stock-sales ratios may be
summarized as follows:
Currently, shipping stocks of durable-goods producers
represent about three-fourths of a month's shipments. The
proportion is about half again as large as in the first 4 months
of last year. Goods in process are equivalent to about ninetenths of current monthly sales and are only moderately
above the ratio a year ago. Purchased and raw materials
are about 60 percent of monthly sales, or just above the ratio
for the opening months of 1953.
Stock-sales ratios for nondurable-goods producers are
little different from last year, and the movements over the
year were more moderate. Shipping stocks this year were a
The difference between the sales-orders-inventory patterns of durable and of non-durable-goods producers in th''
recent period of adjustment has been highlighted in previous
sections. Industries in each group have varied from the
general pattern with the deviations in the durable-goods
sector being largely in degree while in nondurable goods
some industries have moved in a direction opposite from
the general trend.
In the durable-goods industries all of the major groups
except furniture, where there was little change, have experienced sales declines from last summer's highs. The least
contraction in sales occurred in the transportation equipment and machinery areas. The most sizable declines
Table 3.—Manufacturers' Inventories by Stage of Fabrication
[Millions of dollars; not adjusted for seasonal variation]
All manufacturing
Non-durable-goods industries
Durable-goods industries
Year and month
Total
inventory
Purchased
material
Goods in
process
1949: December,.
29, 038
11,421
6,681
1950: January. _ _
February..
March
April
May
June
29, 259
29, 220
29
306
9
9 354
29, 574
29, 836
11,319
11, 223
11,123
10, 989
11,023
11, 157
6. 898
6, 981
7,112
7,216
7,290
7,318
July
August
September
October
November
December
29, 765
29, 862
30, 735
31, 60;
33,146
34, 534
11,458
11,861
12.542
13,142
13,954 i
14,928
7, 468
7, 558
7,759
35, 625
36,196
37, 074
1951: January
February
March
April
M ay
June
1952: J anuary
February
March,
April
May
June
July
August
September.
October
November.
December. _
1953: January. __
February..
March
April
May
June
July
August
September.
October
November.
December,.
1954: January
February..
March
April
10.936
13, 956
4 721
4,650
4,585
15, 082
6.700
2. 031
6,351
11.042
11,016
11.071
11,149
11,261
11,361
14,011
14,113
14,219
14.344
14, 558
1 4, 735
4.671
4, 651
4, 589
4, 570
4, 687
4.880
4,703
4,774
4,847
15,248
4. 955
5, 062
5, 033
4. 637
4, 688
4, 783
4,819
4.809
4,822
6, 648
6, 572
6, 534
6, 419
6, 336
6, 277
2, 195
2,207
2, 265
2.261
2,228
2.285
6, 405
6. 328
6.28g
6, 330
6,452
6. 539
14.680
14,643
14,928
15,303
16, 044
16, 768
5, 065
5, 211
5, 423
5, 084
5,165
5, 341
5, 554
5 893
6,256
4, 249
4.494
4, 590
15.085
15,219
15,807
16. 304
17,102
17,766
6, 393
6, 650
7,119
7,588
2,384
2. 393
2, 11 8
5,500
5,657 i
5,922 |
4, 531
4. 267
4, 164
7, 938
8,112
8,374
10,839
10, 443
10,434
10, 527
11,080
11.232 i
8,061
8, 672
6.308
6,176
6,270
n
6, o-o
278
6, 586
6,642
8,861
9,102
9. 455
9, 834
9, 951
10,004
11,477 i
11,597 !
11,782 i
12,299 !
13,070 |
13,699 i
17,379
17,808
18,219
18, 803
19, 496
20,107
6, 258
6. 279
6. 309
6, 345
6. 542
6, 866
6, 803
40. 032
15,287 i
15,497 j
15,837 |
16,095 !
16.123 |
16,329 |
4, 759
4,977
5 107
5, 365
•", 728
6, 007
18. 246
18,388
18,855
19. 425
19,648
19,925
9,029
9, 218
9, 528
9, 750
9.581
9, 463
6, 718
6, 620
6. 675
6. 934
7, 342
7, 692
40,902
41,428
41,714
42, 055
42, 425
43,123
16,532 !
16,601 I
16,455 I
16,825 I
16,841 i
17,016 |
10,042
10,061
10,342
10,493
10.718
11,020
14,328 i
14,766 !
14,917 i
14. 747 I
14.866 i
15,087 ;
20, 653
21,128
21, 500
21,823
22,130
22, 689
7,088
7, 21 1
7.279
7, 458
7,544 I
7,598
7^895 1
8,092 |
8,380 !
6.216
6, 435
6,508
6,470
6,494
6,711
20. 249
20. 300
20,214
20, 242
20 295
20, 434
9, 414
9,390
9,176
9. 367
9, 297
9,418
8, 11 2
8,331
8,409
8,277
8, 372
8, 376
43,520
43, 730
43,918
43, 790
43,671
43, 305
16,814 j
16,692 i
16,493 !
16.186 i
16,084 '
15,840 j
11,372
11.703
11,964
12,063
12,073
11,914
15,334
15, 335
15, 461
15,541
15,514
15,551
23.015
23,325
23, 598
23,735
23,906
23, 551
7,503 i
7,448 I
7,372 I
7,205 \
7,216 !
7,115 |
8,602 I
8 908 i
9, 138 I
9,305 !
9,401 i
9,291 '
6,910
6,969
7, 088
20, 505
20, 405
20, 320
20, 055
19, 765
19, 754
9,311
9, 244
9,121
8,981
8,868
8 725
8,424
8, 366
8,373
8,316
8, 225
8,406
42, 995
43, 003
43, 072
43,255
43,591
44, 442
15,766
15, 667
15, 792
15, 970
16, 243
16 549
11,898
12,132
12,264
12, 442
12,267
12,633
15,331
15,204
15,016
14, 843
15. 081
15, 260
23,113
23,183
23, 244
23, 487
23. 643
24. 367
7,047 !
7,099 !
7, 182 |
7,345 !
7,467 |
7,543 j
9,192
9,392
9,477
9, 587
9, 504
9, 954
6,874
6, 692
6, 585
6, 555
6,672
6,870
19, 882
19,820
19, 828
19, 768
19,948
20, 075
8,719
8 568
8,610
8,625
8,776
9,006
8,457
8,512
8,431
8,288
8, 409 ,
8,390
44, 691
44, 858
45,158
45,362
45,884
46,334
16, 206
16,087
16,049
15.838
15, 957
16, 096
12, 961
13, 258
13,545
13,712
13,692
13,762
15,524
15,513
15,564
15,812
16, 235
16,476
24, 600
24,847
25, 298
25, 608
26, 093
26, 339
7,335
7. 263
7,232
7,202
7,506
7,697
10,116
10, 324
10,654
10,756
10, 730
10, 719
7,149
7,260
7,412
7,650
7,857
7,923
20,091
20,011
19, 860
19, 754
19, 791
19, 995
8.871
8,824
8,817
8,636
8, 451
8, 399
8,375
8,253
8,152
8,162
8,378
8, 553
46. 436
46, 489
46,646
46, 529
46, 532
46.947
16, 241
16, 244
16, 425
16,402
16.377
16,419
13, 698
13, 645
13,551
13,351
13,149
13,304
26, 463
26. 564
26, 612
26, 598
26, 549
26. 697
7,895 j
7,746 |
10,713
10,738
10, 723
10,565
10,473
10, 554
7,855
7,798
7, 893
8,057
8,181
8, 397
19,973
19,925
20, 034
19,931
19, 983
20, 250
8.346
8,216
8,429
8,426 j
8.482
8, 673
8,642
8,802
8, 777
8,719
8,825
8, 827
46, 772
46,355
45,959
45, 479
16,023
15, 783
15,3<1
14,935
13,512
13,285
13,311
13,309
16,497
16, 600
16,670
16,776
17,006
17,224 '
I
17,237
17, 287
17,277
17,235
26, 598
26, 235
26, 042
25, 726
7, 476
7,247
6,943
6,728
10, 676
10, 436
10,473
10,454
8,446
8, 552
8,626
8, 544
20,174
20,120
19,917
19, 753
8, 547
8,536
8,408
8,207
8,791
8, 735
8,651
8, 691
39.144
I
!
i
!
!
I
Source: U. S. Department of Commerce, Office of Business Economics.
Finished
goods
Goods in
process
38, 228
July
A ugust
September„ _
October
November
December
Goods in
process
Purchased
material
6,362 !
6.552 j
7,093
7,226
7,234 |
7,349 !
7,482 j
Finished
goods
Total
inventory
Purchased
material
Total
inventory
Finished
goods
15. 107
15, 087
15,010
1 5, 01 6
15, 101
0
AO0
June 1954
SURVEY OF CURRENT BUSINESS
have been in the sales of basic materials producers—primary
metals, both ferrous and nonferrous, and lumber.
Sales of producers of transportation equipment other
than motor vehicles have declined about 10 percent from
their last July rate. In contrast to the general liquidation
of durable-goods inventories since last fall, these companies'
inventories have shown little change. While the stocksales ratio for this group was reduced a little in early spring
it is currently at a near-record rate of 3 months of sales.
The inventory adjustment by motor vehicle producers, on
\he other hand, has been substantial—amounting to about
10 percent since last September. Late-spring shipments of
this industry were 15 percent under last year's high. The
stock-sales ratio has been reduced in recent months dropping
to 1% months of sales, compared with 1% months a year ago.
Sales by both electrical and nonelectrical machinery
producers have declined about 8 percent from mid-1953.
Both groups have liquidated some 10 percent of their stock
since the September peak, bringing stock-sales ratios in
recent months almost back to their year-ago rates of a little
over two months. Orders backlogs have been reduced
relatively less in electrical equipment than in other machinery industries. As of April of this year, the ratio of unfilled
orders to sales for electrical equipment was nearly 7 months
as against 9 months last April. Backlogs of orders held by
nonelectrical producers this spring amounted to 3% months
of sales, as compared with nearly 5 months of sales a year ago.
Since last summer, sales of primary metal producers have
dropped one-third, while their new orders have fallen almost
two-fifths—with even greater relative reductions in steel.
Unfilled orders held by this group represented a little over
2% months of sales as of the end of April—a ratio about onefifth lower than a year ago.
Some inventory liquidation was accomplished during the
fourth quarter, but there was very little change in the book
values of inventories of the primary metals group during the
first 3 months of this year. April brought a substantial
decline, centered largely in the steel industry. At the beginning of May, stocks amounted to 2 months of sales, vvell
above the ratio a year ago.
23
Nondurable industries divergent
The relative stability shown by the nondurable-goods industries in the past year has resulted from moderate and offsetting movements in the component industries. Sales for
the food group have moved up about 2 percent since last
summer and are now above the year-ago total. The increases
occurred in all food-processing industries other than meat
packing—where there was little change. In line with the
rise in total food sales, inventories have been increased, with
the accumulation again centering in areas other than meat.
Inventory-sales ratios rose during the fall and winter but
declined in March and April.
The same pattern—sales increases and inventory accumulation—but in more moderate degree, has been shown by
beverage producers. Other consumer goods industries such
as apparel and leather products showed the more typical
course of decline in sales followed subsequently by inventory
liquidation.
The sales decline in textiles, 12 percent from the high last
May, was among the sharpest in the nondurable-goods industries. Inventory liquidation by textile companies began last
July—somewhat earlier than in other areas; sales had also
turned down somewhat earlier than in other soft-goods industries. Textile inventories now represent about 2% months of
sales—and have increased more relative to sales than have
most other major nondurable sectors.
The chemical group has shown considerable sales strength
in recent months, with shipments in April at about equal to
the July 1953 high. Inventory liquidation has been moderate.
Due primarily to the sales gain this spring, the inventorysales ratio has declined substantially during the last few
months of this year and is now back to the year-ago rate.
Sales of rubber producers have dropped almost 15 percent
from their 1953 high, and stocks have been reduced relatively
about as much. Petroleum sales have shown about a 2 percent decrease from midsummer, while more recent inventory
adjustments have brought stock-sales ratios in line with
year-ago rates.
Sales - Inventory Position of Retailers
(Continued from p. 16)
The decline in sales from a year ago in the Kansas City,
Atlanta, Richmond, and Dallas districts may be influenced
by the decrease in farm income. For the United States as
a whole, cash receipts from farm marketings in the first
quarter of this year were down about 3 percent from a year
ago, due largely to a 9-percent reduction in crop receipts.
The regions which have fared somewhat better in department store sales than the average for the country as a whole
over the past year—although somewhat poorer over the
entire postwar period—are in the northern and eastern parts
of the country in which farming and very heavy industry
play a lesser role. The fact that in the recent period at
least, these regions have experienced somewhat lower relative
sales declines may reflect the greater incidence of light
industry in these areas—industries whose output has been
better maintained in recent months.
Regional data are also available on automobiles, an important product not sold through department stores. New
passenger-car registrations for the Nation as a whole were
down approximately 5 percent from January-April 1953
to January-April 1954. Two districts—San Francisco
and Cleveland—which fared less well than the national
average in the change in department-store sales, also showed
larger declines than the national total for new-car registrations. Two other districts—Kansas and Richmond—while
roughly paralleling the national trends in departmentstore sales, underwent larger percentage declines in registrations. At the other extreme, in three districts which bettered
the national trend in department-store sales—Boston, New
York, and Atlanta—new-car sales were close to a year ago,
with States in the Atlanta district showing a pickup in
registrations this year as compared with a year ago.
flew or Kevi&ed S T A T I S T I C A L S E R I E S
Consumer Credit: Revised Data for Page S—16 1
[Millions of dollars]
1952
Item
January
Total short- and intermediate-term consumer credit,
month
-.
mil.
Instalment credit, total
Automobile paper
__
Other consumer-goods paper
_
Repair and modernization loans
Personal loans
_.
..
- .
By type of holder:
Financial institutions, total
Commercial banks
_
_
Sales-finance companies
Credit unions
_
.
Other
Retail outlets total
Department stores
Furniture stores
Automobile dealers
Other _
-
-
._
Noninstalment credit, total
Single-payment loans Charge accounts
Service credit
_ _ _ -_
By type of holder:
Financial institutions, total. ._
Commercial banks
Retail outlets
Service credit
. _ . .
._
_
_.
end of
of dol
do
do
do-_
do
do
February
March
April
May
June
July
August
September
October
ber
November
December
20, 945
14 660
6,146
4,175
1,079
3,260
20. 690
14 566
6, 111
4,092
1,078
3,285
20, 661
14 566
6, 085
4,062
1,079
3,340
21, 009
14 753
6, 180
4,075
1, 100
3,398
21, 796
15,341
6,531
4,201
1,142
3,467
22. 554
16, 073
6,965
4.360
1,185
3,563
22, 867
16, 509
7,193
4,469
1,229
3,618
23, 135
1 6, 769
7,264
4,570
1.268
3.667
23, 520
17, 090
7,380
4,699
1,312
3,699
24, 147
17,611
7,630
4,895
1,362
3,724
24,611
17 961
7,856
4,962
1,393
3,750
25, 827
18 684
8,099
5, 328
1,406
3, 851
do
do
do
do
do
12 008
5,769
3 703
11 979
5,769
3 661
12 005
5,807
3 623
12 184
5,898
3 662
12, 690
6,143
3 853
13 342
6,458
4 111
696
729
13 960
6,793
4 294
14 210
6,945
4 362
667
13 740
6,648
4 263
14 615
7, 158
4 523
14 948
7,310
4 670
15 410
7,524
4 833
1 902
1 909
1 924
1 957
1,998
2 044
2 077
2 099
2 112
2 126
2 150
2 216
do
do
do
dodo
2 652
2 587
2 561
2 569
2, 651
2 731
2 769
2 809
2 880
1,000
2 996
1,053
3 013
1,033
3 274
1, 117
634
877
726
248
801
640
866
707
243
771
651
873
692
239
757
. 759
907
714
253
777
879
691
240
933
736
270
792
752
940
749
278
802
774
959
762
279
809
791
774
282
824
808
795
291
857
818
809
299
872
837
866
308
983
do
-.do
do
do
6 285
1,939
2 749
1,597
6, 124
1,983
2 494
1,647
6,095
2,004
2,414
1,677
6,256
2,013
2 541
1,702
6.455
2,062
2,666
1,727
6.481
2,060
2.671
1,750
6 358
2, 025
2 585
1,748
6,366
2,024
2 590
1,752
6,430
2,029
2,650
1,751
6,536
2,025
2 789
1,722
6,650
2,100
2 839
1,711
7, 143
2,094
3 342
1,707
.do
do
do
do
1,939
1,717
2 749
1,597
1,983
1,742
2 494
1,647
2.004
1,758
2 414
1,677
2,013
1,769
2 541
1,702
2,062
1,777
2 666
1,727
2,060
1,798
2 671
1,750
2,025
1.791
2 585
1,748
2,024
1,789
2 590
1,752
2,029
1,789
2 650
1,751
2,025
1,796
2 789
1,722
2,100
1,814
2 839
1,711
2, 094
1,844
3 342
1,707
1. Compiled by the Board of Governors of the Federal Reserve System. Data have been revised to incorporate more comprehensive information that has become available since the preparation of the original estimates. No changes have been made in the figures for sales-finance companies.
The Business Situatian
(Continued from p. 5)
Among the smaller areas—those with less than 100,000
workers—divergences in employment experience have been
more pronounced as strong dependence upon one or two
industries is not uncommon. Fairly substantial increases
or decreases have occurred. Among the 74 Continental
United States labor market areas with less than 100,000
workers covered by the Bureau of Employment Security,
nonagricultural employment declines of 11 percent or more
were reported in 9. All but two, Lawrence, Mass., and
Altoona, Pa., were in the Great Lakes area. All remaining
eight are centers of metalworking and they are primarily
producers of consumers' durables, automobiles, refrigerators,
or parts. In most of these areas reduction of work on Government contract has been a contributing factor to employment
decline, in one, Joliet, it has been the major factor. On the
other hand, Lawrence and Altoona represent problems of
long-term adjustment, aggravated by the recent downturn.
24
Some smaller areas increase
Of the 74 smaller areas employing under 100,000 reported
by the Bureau of Employment Security, 11 increased their
employment during the past year. In 7 of these, jobs in
manufacturing also increased; in 3 areas, San Jose, Atlantic
City, and Corpus Christi, by 8 percent or more. Most of
these areas are in the south and west, and a number are
resort areas. In Aiken-Augusta, Mobile, and Chattanooga,
large increases in manufacturing were offset by construction
declines as factory operations began in newly built plants.
Because of their earlier employment history and a number
of other factors the areas of recent employment decline do
not necessarily have the heaviest unemployment nor do areas
reporting employment increases necessarily have the lowest
unemployment rates. There is, however, considerable correspondence between recent loss of employment and unemployment rates.
tl/lontklua
BUSINESS STATISTICS
JL HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1953 Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $1.50) contains monthly data for the years 1949 to 1952, and monthly averages for earlier years
back to 1935 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1949. Series
added or revised since publication of the 1953 Supplement are indicated by an asterisk (*) and a dagger (f), respectively, the accompanying footA
ote indicating where historical data and a descriptive note may be found. The terms "unadjusted" and "adjusted" used to designate index
numbers and dollar values refer to adjustment of monthly figures for seasonal variation.
Data from private sources are
Statistics originating in Government agencies are not copyrighted and may be reprinted freely,
provided through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
1954
1953
April
May
July
June
August
Septem- October
ber
November
Decem- January
ber
February
March
April
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates:
National income total
bil of dol
Compensation of employees total
do
Wages and salaries total
do
Private
do
Military
do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' and rental income, totaled do
Business and professional^
do
Farm
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment total
bil of dol
Corporate profits before tax total
do
Corporate profits tax liability
do
Corporate profits after tax
__ . d o
Inventory valuation adjustment
do
Net interest
do
Personal consumption expenditures, total do
Durable goods
_. _ _._
-do
Nondurable goods
do
Services
do
Gross private domestic investment, total
bil of dol
New construction
do
Producers' durable equipment
do
Change in business inventories
do
Net foreign investment .
do
Government purchases of goods and services,
total
bil of dol
Federal (less Government sales)
do
National security9
do
State and local
do
Personal income, total.
_
do
Less: Personal tax and nontax payments ..do
Equals: Disposable personal income
do
Personal saving §
do
PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:
Total personal income-. bil. of dol
Wage and salary disbursements, total
do
Commodity-producing industries
do
Distributive industries
do
Service industries
do
Government
do
Wage and salary receipts, total.
__,do
Other labor income ..
do
Proprietors' and rental income _ _
do
Personal interest income and dividends. -do
Transfer payments
do
Less personal contributions for social insurance
bil. of dol—
Total nonagricultural income
_.do
7
0
0
5
6
9
0
7
0
3
4
308.1
210 4
200.6
166 9
10.5
23 1
9.8
49.1
26 9
11.6
10 6
300 8
207 7
198 0
164 4
10 3
23 3
9.8
50 0
26 9
12 2
10 8
205.1
194.7
161. 2
10.0
23.5
10.4
49.9
26.7
12.3
10.9
45 2
45 9
25 0
20.8
— 6
7 7
40.7
43 3
23.6
19.6
—2 6
7.9
35 0
34 0
18 6
15 4
10
81
—.1
8.1
371 4
230 4
30.7
122 1
77 6
369 5
231.0
30.4
121.3
79 2
363 5
230 0
29 1
120 4
80 5
357. 8
229.8
28.2
120.4
81.3
58.5
25 3
26 9
6 3
—2.5
55.2
24.9
27.1
3. 1
-2,1
48 8
25 3
26 5
—3 0
10
46.8
26.4
25.2
-4.8
-1.0
85 0
60 5
53 5
24.6
85.5
60.4
52.1
25.2
85
59
50
26
7
5
0
3
82.2
55.1
46.9
27.1
284 4
36.7
247 7
17 2
286.8
37.0
249.8
18 8
285
36
24Q
19
9
6
3
3
283.2
33.4
249.8
20 0
310
208
198
164
10
22
10
49
27
12
10
282.7
196.6
88.8
51.0
23.4
33.4
192.8
5.1
49.4
22.0
13 6
284.7
198.0
89.3
51.7
23.5
33.5
194.2
5.1
50.0
22.1
13 5
286.3
199.5
89.8
52.2
23.9
33 6
195.6
5.1
50 1
22.3
13 5
287 5
201.2
90.6
52.9
24 2
33 5
197.3
51
49 5
22.4
13 5
287.0
201.0
90.2
52.9
24.1
33 8
197.1
5.1
48.9
22.5
13 6
286.3
199.9
89.3
52.7
24.1
33.8
196.0
5.1
49.0
22.7
13 6
287 2
199.3
88.7
52 7
24 2
33 7
195.6
51
49 5
22.8
14 5
285.9
198.3
87.7
52.9
24 1
33 6
194.5
51
50 0
22.7
13 8
284 6
196.3
86 4
52 2
24 2
33 5
192.5
51
50 3
22.7
14 3
283 7
195.7
85.4
52 6
24 1
33 6
191.2
51
50 0
23.0
14 7
283.0
194.7
84.9
52.2
24.1
33 5
190.2
5.1
50 0
23.0
15 0
'282 9
* 194. 1
'84.4
r
52 1
24 3
r 33 3
' 189. 6
5 2
r 49 5
23.1
15 7
282 0
193.4
83 8
51 9
24 4
33 3
189.1
5 2
49 i
23.1
15 8
4.0
4.0
4.2
4.2
4. 1
4.0
4.0
4.0
4.1
4.8
4.8
4.7
4.6
265.5
267.2
268.8
270.6
270.7
270.0
270.5
269.0
267.2
266.4
266.0
' 266. 2
266.1
NEW PLANT AND EQUIPMENT
EXPENDITURES
1T
All industries, quarterly totalj.
mil. of dol
7,289
7 098
7 666
6 ^10
Manufacturing
do
3, 192
2,945
3, 392
' 2,
641
r
Miningdo
234
265
223
288
Railroads
__
..do
359
300
341
' 248
Transportation, other than rail
do
366
386
376
r giQ
Public utilities
—do....
1,158
1,219
1 246
Commercial and other
do
1
1,979
1,984
2,023
'1,859
' Revised.
1 Estimates for the 2d and 3d quarters of 1954, based on anticipated capital expenditures of business, appear on p. 6 of this issue of the SURVEY.
cf Includes inventory valuation adjustment.
9Government sales are not deducted.
§Personal saving is excess of disposable income over personal consumption expenditures shown
as a component of gross national product above.
{Revisions for 1952 appear on p. 10 of the March 1954 SURVEY.
T
3f]Q
S-l
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
June 10M
1954
1953
April
May
June
July
August
September
October
November
December
January
February
March
April
GENERAL BUSINESS INDICATORS—Continued
FARM INCOME AND MARKETINGS*
Cash receipts from farming, including Government
payments, total
mil. of doL.
Farm marketings and CCO loans, total
do
Crops
do
Livestock and products, total
do
Dairy products
do
Meat animals
do
Poultry and eggs
do
Indexes of cash receipts from marketings and CCC
loans, unadjusted:
All commodities
1935-39=100
Crops
do
Livestock and products
do
Indexes of volume of farm marketings, unadjusted:
All commodities
..1935-39= 100. _
Crops
do
Livestock and products
do
INDUSTRIAL PRODUCTION
Federal Reserve Index of Physical Volume^
Unadjusted combined indexf
1947-49=100
2,020
1,983
2,009
1,975
2,156
2,130
2,404
2,390
690
996
572
513
1,411
1,462
365
721
306
1,440
1,394
407
708
318
402
714
295
2,461
2,453
1 060
1 393
386
682
302
364
695
320
334
768
330
336
812
355
334
858
366
336
739
331
299
202
371
298
181
385
321
243
379
361
352
367
370
375
367
477
607
381
557
767
401
519
659
414
449
548
375
124
76
124
71
137
94
164
192
231
169
153
148
156
154
160
226
289
178
198
158
164
203
227
157
179
186
162
3.169
3 164
1 718
1 446
3,700
3 693
2 169
1 524
3,443
3 439
1 865
1 574
2, 986
2 974
1 550
1 424
' 2. 622
r
2 604
r
1 195
r
1,409
r
329
r 1, 960
r
269
1 946
r 543
1 303
r
313
r
703
T
267
T 393
r 294
r 422
r
r 227
371
T 343
160
167
155
'123
T
r
r
790
r
r
96
r 143
r
T
r
2, 014
1, 990
r
538
1, 452
342
'•SIS
r
279
300
r
r
P 26,-f
190
382
v 284
f 175
"365
127
78
164
r-120
p 67
P 161
r
T
p 1,914
p 1,881
p 494
p 1.387
P 345
P i~
136
136
136
129
136
135
136
130
124
124
126
125
128
do
do
do
- do . _
do
do
do
__do _ _
do
__do
139
159
141
146
147
138
157
142
148
143
138
155
138
143
144
130
147
124
137
143
137
153
130
138
141
' 137
125
140
110
114
145
170
139
168
139
126
140
113
115
145
161
135
166
140
164
137
128
141
113
114
147
125
137
108
105
173
139
13°
146
122
129
146
127
151
127
134
147
138
154
129
136
147
167
150
199
163
148
192
159
146
184
167
137
157
137
197
158
137
200
155
126
155
124
148
138
168
158
130
155
123
161
138
205
154
135
191
149
137
172
146
147
134
172
Transportation equipment
do
Autos _ _ _
_ __do
Trucks
do
Aircraft and parts
- __do
Instruments and related products
do
Furniture and
fixtures
._ _-do
Lumber and products
do
Stone, clay, and glass products __ __.do
Glass and pottery products
do
Miscellaneous manufactures
do _ _
198
170
142
452
194
162
124
452
193
166
106
452
190
161
118
461
189
153
127
473
182
134
115
480
155
121
189
151
106
481
156
118
157
117
174
107
98
483
153
116
155
115
126
134
126
140
122
135
125
139
151
113
173
107
95
463
122
136
123
140
122
137
123
143
121
136
122
144
156
116
112
132
113
133
156
114
114
134
122
145
do
_ do
_.do ...
do
do ___
_do
do
do
do
do
118
99
98
111
98
105
102
104
109
111
119
102
101
103
100
110
102
107
112
115
121
108
105
105
103
119
107
110
111
114
113
112
110
98
102
121
107
94
93
95
121
118
118
102
101
118
108
117
107
110
122
124
127
111
102
113
108
111
102
105
122
120
121
123
do
do. _ _
do
do.. _
do
do
do
do
do
_.do
107
104
136
134
123
150
159
127
131
140
110
102
132
131
122
148
159
129
132
137
117
97
134
133
120
146
161
131
136
131
102
91
120
117
114
141
157
132
137
114
115
103
135
133
116
143
157
135
138
122
do
do
do
do
do
115
74
133
119
123
118
81
131
139
125
120
81
134
142
130
117
69
135
138
130
do
136
137
136
do
do ...
.do
do
do
do
do
do
138
155
136
169
138
164
147
195
139
156
139
169
139
162
146
194
Transportation equipment _. _ -_.do
Instruments and related products
do
Furniture and
fixtures
do ...
Lumber and products
do
Stone, clay, and glass products. _ _ _.do
Miscellaneous manufactures
do
190
Manufactures
Durable manufactures
Primary metals
Steel
Primary nonferrous metals
Metal fabricating (incl. ordnance)
Fabricated metal products
Machinery
Nonelectrical machinery
Electrical machinery
__
Nondurable manufactures
Food and beverage manufactures
Food manufactures
Meat products
Bakery products
Beverages. _
Alcoholic beverages
Tobacco manufactures
Textile-mill products _
___
Cotton and synthetic fabrics
Apparel and allied products
Leather and products
Paper and allied products
Pulp and paper..
Printing and publishing
Chemicals and allied products
Industrial chemicals
Petroleum and coal products
Petroleum refining..
Rubber products _
Minerals .
..
Coal
Crude oil and natural gas
Metal mining
Stone and earth minerals
.
._
..
Adjusted, combined indexf
Manufactures
Durable manufactures.
Primary metals _
Metal fabricating (incl. ordnance)
Fabricated metal products
Machinery
__
Nonelectrical machinery
Electrical machinery
r
132
172
' 139
r
108
106
147
r
153
121
145
132
•• 172
180
142
135
103
483
181
138
103
489
155
112
148
106
147
107
99
128
116
138
r 104
122
115
128
116
126
121
133
110
99
102
125
97
84
80
92
87
90
111
97
101
126
95
82
78
98
91
97
114
96
98
112
97
89
86
96
95
100
r H5
116
118
116
100
101
118
111
114
135
99
99
100
111
96
102
106
94
135
130
122
145
151
133
136
122
107
97
140
138
126
151
151
131
135
127
100
89
135
133
126
150
149
131
137
120
98
87
119
117
122
146
147
128
137
111
r 104
111
102
133
132
118
150
110
100
135
133
121
122
85
135
140
133
122
84
136
139
131
118
84
131
122
132
113
76
131
95
126
111
71
133
74
122
111
74
134
74
108
137
136
133
132
129
126
125
138
154
137
168
139
161
144
194
139
157
136
171
142
164
145
200
138
157
137
171
140
165
145
203
135
152
130
166
135
161
141
200
134
151
128
166
134
159
141
193
131
146
122
159
130
152
136
184
127
142
113
156
126
146
133
172
127
»• 140
111
T
154
126
143
130
169
126
139
109
151
123
141
130
163
192
188
196
191
186
189
183
156
123
157
122
156
121
156
119
155
114
182
r
153
124
180
120
134
141
119
135
143
114
134
145
119
135
143
116
135
146
114
134
140
154
113
155
109
117
133
140
154
106
178
148
105
115
132
138
110
129
136
115
125
130
147
103
123
139
128
148
11)1
»• 181
94
r 126
r
128
116
146
145
125
134
114
r
150
r
101
r
485
••145
106
117
128
r 122
131
98
98
115
r
96
99
99
101
94
mo
r 150
T 150
* 148
150
119
141
128
166
179
151
101
478
140
102
119
128
11*
lr
113
98
96
106
96
103
100
93
99
102
94
T 135
* 133
122
147
» 150
121
118
129
118
r 126
110
68
135
r 109
f 110
61
58
138
r 76
r 73
* 83
113
114
117
r 125
123
123
124
135
163
125
134
104
146
]]F
]'
126
163
171
172
144
104
139
104
] 13
126
136
114
120
130
132
r
T
T 136
r 103
147
120
r 138
T 125
r
116
131
r 130
115
128
1 26
r H4
121
119
121
121
123
117
Nondurable manufactures ..
do _
117
112
115
113
113
115
108
108
109
109
108
Food and beverage manufactures ... _ do
108
106
103
108
105
106
107
106
104
104
108
107
103
103
Tobacco manufactures
do
106
112
108
98
100
103
r 90
113
104
111
109
100
108
Textile-mill products
do
98
95
90
90
91
9°
T
109
116
104
114
117
115
Apparel and allied products
_ _ do
107
101
101
103
100
103
111
104
104
97
99
108
91
Leather and products
_.do
93
91
(U
94
93
94
93
r
Revised.
» Preliminary.
^Revisions for 1951 and 1952, incorporating more complete data, appear on p. 24 of the April 1954 SURVEY.
fRevised series. The index has been improved in this revision by (1) incorporation of a number of new series; (2) revision of weights, seasonal adjustment factors, and working-day allowances; (3) adoption of a more recent comparison base period; (4) use of improved industrial classifications, and (5) development of an independent set of annual indexes from the more comprehensive data available at yearly intervals. For a detailed description of the revision and monthly and annual data beginning 1947, see the December 1953 issue of the FEDERAL RESERVE
BULLETIN.
SURVEY OF CURRENT BUSINESS
June 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-3
1954
1953
April
May
June
July
August
September
October
November
December
January
February
March
April
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION—Continued
Federal Reserve Index of Physical- Volume 9— Con.
Adjusted — Continued
Manufactures— Continued
Nondurable manufactures — Continued
Paper and allied products
1947-49=100
Printing and publishing
do
Chemicals and allied products
do Petroleum and coal products
do
Rubber products
do
Minerals
Coal
Crude oil and natural gas
Metal mining
Stone and earth minerals
. do
do
__do._
do
do
134
120
148
131
137
134
121
151
131
139
134
121
150
131
130
134
121
152
132
130
133
121
148
132
127
135
121
147
131
121
132
123
146
129
120
132
121
145
129
118
125
120
145
128
116
115
75
133
118
124
117
85
131
118
122
119
86
134
117
125
120
87
135
116
125
119
86
135
117
124
118
81
136
117
123
114
76
131
108
124
111
70
131
103
125
113
69
133
101
127
113
70
134
r iQ3
119
50,186
49, 395
25, 816
13, 148
12, 668
9,155
3, 103
50, 003
25, 882
13, 166
12, 716
50, 398
26 366
13, 410
12, 956
48, 138
25. 067
12, 730
12, 337
9,309
3,153
6,410
14 469
5 102
9, 367
14, 073
4,914
9,159
13 982
4 865
9 117
48, 284
25 010
12, 376
12 634
9 234
2 982
6 252
14 040
5 029
9 Oil
47 518
24 256
ll' 867
12 389
9 158
2 994
6 164
14 104
5 005
9' 099
47 909
24 126
11 576
12 550
9 151
3 Oil
6 140
13 932
4 626
9 306
46, 450
23 902
11, 580
12 322
3,160
48 652
25 379
12. 698
12 681
9 291
3 051
81, 116
46 485
26, 392
20 093
11, 888
6 223
5 665
22 743
10, 730
12 013
81, 586
46, 888
26, 788
20. 100
11, 923
6 259
5 664
22, 775
10, 624
12, 151
82
47
26
20
11
6
5
22
10
12
000
087
958
129
989
245
744
924
921
003
81 805,
47 044
26 987
20 057
12, 041
6 278
5 763
22 720
11,844
5 551
22, 455
10, 526
11, 929
80, 167
46, 160
26, 048
20, 112
11, 713
6 007
5 706
22 294
10, 472
11 822
11 993
81
46
26
19
11
6
5
22
10
11
26, 296
13, 703
12, 593
25, 468
13, 178
12, 290
26, 058
13. 586
12 472
12, 383
24,700
12,317
25, 276
12, 484
12, 792
26 163
12, 917
13 246
26 845
13, 223
13 622
26, 358
13, 398
25, 816
13, 148
2,211
1,257
1,437
2,156
26 366
13. 410
2 335
1,309
1,462
2,125
2 381
1,032
334
815
611
416
590
25, 067
12, 730
2,154
1,190
1,438
998
369
772
586
404
608
25 882
13 166
2 222
1,311
1,486
2,164
2 190
1,006
365
767
627
395
633
25 379
12 698
2 084
1 219
1,536
2 163
2 023
1,008
370
726
607
355
607
12 668
3,631
565
305
1,283
943
256
724
819
1,672
12 716
3 594
551
310
1,181
843
286
741
809
1,697
12 %6
3 796
570
301
1,181
869
328
766
740
1,720
12 337
12 681
3 836
662
315
1, 031
854
266
752
707
1, 640
r
126
120
143
124
r 112
129
119
' 146
126
110
r 131
l!9
r
!46
r
!22
r
l!3
r
113
68
135
T
133
120
146
122
113
r
P in
58
v I3g
v 82
118
l!2
62
!36
96
124
101
r 124
BUSINESS SALES AND INVENTORIES?
M a n u f a c t u r i n g a n d t r a d e s a l e s (adjusted) , totalf
mil. of doL Manufacturing, total f
do
Durable-goods industries
do
Nondurable-goods industries
do
Wholesale trade, totalt
do
Durable-goods establishments
do
N ondurable-goods establishments . .
do .
Retail trade total
- - do ..
Durable-goods stores
do
Nondurable-goods stores
do . Manufacturing
and trade inventories, book value, end
of month (adjusted) totalt
mil. ofdol
Manufacturing total t
do
Durable-goods industries
do
Nondurable-goods industries
do
Wholesale trade, total f
-do
Durable-goods establishments
do
Nondurable-goods establishments
do
Retail trade totalt
do
Durable-goods stores
do
Nondurable-goods stores
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Sales:f
Value (unadjusted), total
mil. ofdol
Durable-goods industries
do
Nondurable-goods industries
_ do
Value (adjusted), total
do
Durable-goods industries, total
. . ..do
Primary metal
do
Fabricated metal products ._
do
Electrical machinery and equipment- .-do
Machinery, except electrical
do__ .
Motor vehicles and equipment
do
Transportation equipment, n. e. s
do
Furniture and
fixtures
do
Lumber products, except furniture--, do
Stone, clay, and glass products
do
Professional and scientific instruments - do
Other industries, including ordnance-. .do
Nondurable-goods industries, total
Food arid kindred oroducts
Beverages
._
Tobacco manufactures
Textile-mill products _
Apparel and related products
Leather and leather products
Paper and allied products
Printing and publishing . _.
Chemicals and allied products
Petroleum and coal products
Rubber products^ _.
Inventories, end of month :f
Book value (unadjusted), total
Durable-goods industries
Nondurable-goods industries.
By stages of fabrication:!
Purchased materials
Goods in process
__ .
Finished goods
_
.
_
_,
26, 358
13, 398
12, 960
9,548
3,204
6,344
6,052
14, 280
5,124
9,156
14, 424
5,154
78,996
79, 678
45, 673
25, 681
19, 992
11, 550
45, 164
25, 328
19, 836
11,445
5,951
5,494
22, 387
10, 543
2,275
1,351
1,387
2,227
2, 431
997
367
763
585
392
623
9,270
5,999
2,350
9,709
6,549
14, 412
5, 103
9,563
8,998
3,092
5,906
2,099
2,210
1,031
380
776
582
326
544
r 47 094
r 24 064
13 622
4 436
9 186
46 714
23 620
ll' 278
12' 342
9' 122
2 894
6 228
13' 972
4 745
9 228
81 072
46 722
26 752
19 970
11 689
5 900
5' 7^9
22* 661
10 668
11 993
80 688
46 382
26 526
19 856
11 785
5 866
5' 919
22 521
10 688
11 833
80
46
26
19
11
5
6
22
10
11
390
115
168
947
854
841
013
421
584
837
r gO 091
12 077
i 9 970
23 792
ll' 499
12 293
23 929
11 615
12 314
23 062
10 870
12 192
22 970
10 968
12? 002
r 25 300
r 12 208
r 13 092
94 4^*?
25 010
12 376
1 985
1 139
1,391
2 039
2 095
1,140
364
715
575
353
580
24 256
11 867
1 874
1 150
1,324
2 068
1 918
925
334
723
583
402
566
24 126
11 576
1 645
23 620
ll' 278
I con
1 132
1,269
1 968
1 962
942
309
659
573
348
536
r 94 Ofi4,
T
11 385
1,349
1 902
2 046
947
345
731
540
423
572
23 902
11 580
1 609
1 176
1,328
1 959
2 101
1,005
325
659
517
364
537
12 389
3 771
635
33°
1 006
835
251
709
778
1 606
2 113
346
o CgQ
1 9 *}99
q QAO
416
12 634
3 890
666
304
1 038
910
243
738
745
1 643
2 062
395
6,240
10,727
276
909
975
934
930
127
803
437
574
863
do
do
do
do
do-..
do
do
do
do.__
do ..
do
do
1 2, 960
do
do
do ..
45, 362
25, 608
19, 754
45, 884
26 093
19, 791
46, 334
26 339
19, 995
46 436
26 463
19,973
46, 489
26 564
19, 925
46 646
26 612
20 034
46 599
26 598
19 931
46 532
26 544
19 983
do
do
do
15, 838
15 957
13, 692
16 235
16 096
13 762
16 476
16 241
13 698
16 497
16 244
13 645
16 600
16 495
13 551
16 670
16 402
13 351
16 776
16 377
13 149
17 006
3,826
563
318
1,231
912
281
739
794
1, 734
2.118
444
13,712
15,812
2,048
422
2,268
436
2,237
448
3,645
617
314
1,098
891
264
735
676
1,608
2,081
409
2,202
l'o76
' 572
304
1 040
873
267
701
774
1 601
2 186
369
8,926
2 859
6,067
626
292
992
857
259
I
r 9' 130
2 g70
r g 260
r 13 900
r 4 g5g
9 042
r 45 774
r 25 900
r 19 g74
r 11 754
r 5 7QQ
639
367
484
883
024
g22
202
248
882
ggp
79 613
4K 909
25
19
11
5
439
853
635
731
r f\ Q^^
T 22 563
r 10 4gg
22 686
10 408
11 801
19
(\Kf)
1 ' Pi9S
1 173
1,355
1 941
1
1 1 Q1
1,351
Q01
••931
r q-i 7
r ggg
r K.AQ
'353
••549
928
fiS4
367
521
12,883
/3 O1
KAQ
9Q1
nqc
r 1 Ofift
974
832
1 590
o 1 on
351
46 947
20 250
r 12 679
47
24
11
12
9
2
6
14
4
9
con
748
1 569
2 149
348
388
1 3 °.(I4
45, 479
25, 726
19. 753
26, 235
T
26, 042
15, 783
T
15, 371
T
17, 277
13, 309
17, 235
' 45, 774
' 25, 900
45, 292
25, 439
90 1 74
Book value (adjusted), total
do
45, 164
45, 673
46, 160
46, 485
46, 888
47, 087
47, 044
46, 909
46, 722
46, 382
Durable-goods industries, total
do
25, 328
25, 681
26, 048
26, 392
26, 788
26. 958
26, 987
26, 975
26, 752
26, 526
0 AC) K
Primary metal
do
3,242
3,308
3 318
3 382
3 456
3 513
3 507
3 488
Fabricated metal products
do
2, 580
2,607
2,717
2,815
2,914
2, 962
3,038
3,145
3,131
3,012
3,219
Electrical machinery and equipment ._. do
3, 266
3,305
3, 366
3,424
3,425
3,484
3,489
3, 440
3,342
Machinery, except electrical
do
5,525
5,524
5,555
5, 628
5,690
5,667
5, 665
5, 735
5,647
5,551
0 OQ£
Motor vehicles and equipment
do
3,229
3 348
3 420
3 476
3 435
3 498
3 445
3 377
Transportation equipment, n. e. s
do
2, 642
2, 651
2,707
2,728
2,720
2, 751
2, 702
2,700
2,769
2,784
Furniture and
fixtures
do
641
660
681
697
681
674
679
670
Lumber products, except furniture
do
1,041
1.031
1, 049
1,068
1,096
1,123
1,121
1,090
1,033
1,022
Stone, clay, and glass products
do
867
881
883
ftQfl
879
875
884
901
878
Professional and scientific instruments .do
851
857
866
875
853
878
881
882
882
895
Other industries, including ordnance. _ _ do
1, 538
1, 501
1, 539
1,581
1, 549
1, 564
1, 583
1,521
1,497
1,482
r
Revised.
* Preliminary.
9 See note marked "t" on p. S-2.
§The term "business" here includes only manufacturing and trade. Business inventories as shown on p. S-l cover data for all types of producers, both farm
data for manufacturing are shown on this page; those for retail and wholesale trade, on pp. 8-8, S-9, and 8-10.
1953 are available upon re( uest
data published in
g^^s8!^
l
(most of t
JRevised data for December 1949-March 1953 appear on p. 22 of this issue of the SURVEY.
3
r 11 335
46, 115
26, 168
3,354
2,948
3,326
2,917
3,248
5,512
3, 380
5,416
3, 296
2,732
2,753
T
1,015
r
883
1,445
r
665
1,r 025
906
'874
1, 446
14,935
3,224
2,829
3, 185
5, 326
3, 230
2,713
654
1,036
913
884
1,445
and nonfarm Unadiusted
uomarm. u naajustea
the 1953 issue of BUSINESS
SUKVEY OF CUEEENT BUSINESS
S-4
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
June 1954
1954
1953
April
May
June
July
August
September
October
November
December
January
February
March
April
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS—Continued
Inventories, end of month f — Continued
Book value (adjusted), total— Continued
Nondurable-goods industries, total . -mil . of dol- . 19, 836
3,522
Food and kindred products
.-do
1,232
Beverages
-do
1,817
Tobacco manufactures
do
2,614
Textile-mill products
do
1,834
A.pparel and related products
do
550
Leather and leather products
. do
1,051
Paper and allied products
do
743
Printing and publishing
_ _ do
2,975
Chemicals and allied products
do
2,624
Petroleum and coal products
do
874
Rubber products
do
19, 992
3,493
1,212
1,818
2,631
1,890
578
1,060
745
3,007
2,670
888
20, 112
3,489
1,222
1,811
2,693
1.906
584
1,048
750
3,065
2,630
914
20, 093
3,433
1,242
1,804
2,666
1,866
568
1,030
755
3,108
2,696
925
20,100
3,411
1,186
1,839
2,646
1,876
562
1,024
773
3,142
2,744
897
20, 129
3,445
1,139
1,834
2,612
1,907
574
1,038
772
3,169
2,731
908
20, 057
3,468
1,142
1 811
2,614
1 862
577
1,044
768
3,140
2,750
881
19, 934
3,511
1,129
1 789
2.543
1 845
570
1,050
776
3,107
2,747
867
19, 970
3,525
1,155
1,812
2,513
1,901
582
1,044
752
3,093
2,725
868
19,856
3,524
1,162
1 842
2,464
1 872
581
1 034
769
3 067
2,697
844
19, 947
3,589
1, 161
1,840
2,455
1,863
573
1,048
762
3,080
2,719
857
'r19, 874
3, 598
1,196
r i 833
r 2 442
r i 791
r
573
New orders, net:f
Unadjusted total
Durable-goods industries _ _
Nondurable-goods industries
25, 479
12, 959
12, 520
24, 564
12, 176
12, 388
25, 654
12, 985
12, 669
23, 832
11,588
12, 244
22, 672
10, 133
12, 539
23, 235
10,090
13, 145
23, 282
9,830
13,452
20, 955
8,930
12, 025
21,448
9,347
12, 101
20 882
8,687
12, 195
21, 526
9,495
12, 031
23 857
10 779
13, 078
22 988
10 413
12, 575
25, 682
12, 702
2,093
1,131
1,697
2,184
25, 883
13, 101
2,167
1,210
1,480
2,042
25, 152
12, 392
2,390
1,012
1,303
2,084
24, 525
11, 600
1,957
1,073
1,582
1,752
22, 339
10, 139
1, 751
1,214
1,134
1,676
22, 661
10, 110
1,635
1,041
1,082
1,843
22, 163
9,677
1,500
843
1,039
1,798
21, 594
9,631
1,666
1,089
886
1,800
22, 026
9,567
1, 450
1 045
949
1,613
20, 749
8,475
1,205
746
987
1 378
22,016
9, 629
1,278
932
1,264
1 599
22 859
' 10, 206
T 956
r 948
T i 677
23 058
10, 138
1 350
891
1 132
1 775
2,776
2,821
12, 980
3,064
9,916 *
3,545
2,657
12, 782
3,196
9, 586
2,875
2,728
12,760
3,061
9,699
2,347
2,889
12, 925
2,983
9,942
1,882
2,482
12, 200
2,636
9,564
2,114
2,395
12, 551
2,626
9,925
2,127
2,370
12, 486
2,617
9,869
2,084
2,106
11, 963
2,318
9,645
2,289
2, 221
12, 459
2,691
9,768
2,198
1,961
12 274
2,631
9,643
2,255
2, 301
12 387
2,862
9,525
'r 2, 922
2, 434
r 12 653
r 2 830
' 9, 823
2,664
2. 326
12 920
2 883
10,037
74, 896
71, 698
7,230
6,218
12, 266
10, 389
73, 992
70, 696
7,020
6, 100
12, 251
10, 140
73, 588
70, 095
6,977
5,790
12, 286
9,928
72, 720
69, 366
6,910
5,728
12, 520
9,793
70, 116
67, 015
6,562
5,609
12, 204
9,512
67, 188
64, 188
6,103
5,517
11,718
9,118
63, 626
60, 796
5,640
5,052
11,279
8,785
60, 789
58, 227
5, 355
4,798
10, 687
8, 545
58, 308
55, 959
5,108
4,643
10,317
8, 156
56, 128
53 776
4,729
4 435
10, 059
7 770
54, 684
52 303
4,448
4 201
9,962
7 435
' 53, 241
r 5Q 874
r 4 202
r 3 994
r
9, 489
r 7 io83
51,776
49 486
3 975
3 787
9,300
6 898
29,037
6,558
3,198
28, 823
6,362
3,296
28, 803
6,311
3.493
27, 767
6,648
3,354
26, 559
6,569
3,101
25, 658
6,074
3,000
24, 338
5,702
2,830
23, 726
5,116
2,562
23. 044
4,691
2,349
22, 322
4,461
2 352
21,740
4,517
2 381
r 21 658
r
4, 448
T 2 367
21 227
4,299
2 290
do
_do
do .
Adjusted total
-do .__
Durable-goods industries, total
do
Primary metal
-- - do
Fabricated metal products
do
Electrical machinery and equipment do
Machinery except electrical
do
Transportation equipment, including motor
vehicles and parts
mil. of dol_Other industries, including ordnance-., do
Nondurable-goods industries, total
do
Industries with unfilled orders 9 . do . _ .
Industries without unfilled ordersl
do
Unfilled orders, end of month (unadj.), totalf.do
Durable-goods industries, total _
do
Primary metal
do
Fabricated metal products
do
Electrical machinery and equipment
do
Machinery except electrical _
do._ _
Transportation equipment, including motor
vehicles and parts
mil. of dol
Other industries, including ordnance
do
Nondurable-goods industries, total 9
do
19r 853
3,558
1 184
1 87S
2 422
1 765
588
1 055
765
3 051
2,741
r I
050
r
767
T 3 072
r
2, 703
r 849
r \ 269
BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURNOVER
Operating businesses, end of period, totalt
Contract construction
Manufacturing
Service industries
Retail trade
Wholesale trade
All other
thous_
do
do
do
do
do
do
4, 205. 7
432.3
326.6
741.9
1, 859. 2
285.0
560.7
v 4, 188. 3
v 430 5
p321 5
v 740. 4
p 1, 855 3
p 281. 9
"558 7
Now businesses semiannual total f
Contract construction
Manufacturing
Service industries
Retail trade
Wholesale trade
_
All other
do
do
do
do
do
_do
do..
199.3
40.4
16.0
29.6
77.4
11.9
24.0
141 9
23 9
10.4
23 1
58 1
8.6
17.1
do.. do
do
do
-do
do
do
172.4
25 8
16 3
26 7
71.1
9 8
22 7
do.. .
206. 0
-
Discontinued businesses, semiannual total f
Contract construction
Manufacturing
Service industries
Retail trade
..
-. -Wholesale trade
All other
Business transfers, semiannual total f _
.
v 158
p 25
P 15
p 24
p62
P 11
v 19
.
j
6
7
5
6
0
7
1
151 2
BUSINESS INCORPORATIONS^
New incorporations (48 States)..
number..
9,507
8,968
8,926
8,703
7,487
7,433
8,267
7,269
8,915
9 543
8 533
10 514
10 272
693
48
86
140
344
75
697
66
70
143
344
74
817
74
99
145
419
80
724
43
64
164
380
73
700
49
92
148
340
71
686
31
89
145
336
85
840
75
89
188
404
84
815
66
97
175
389
88
813
64
89
193
382
85
867
60
86
192
450
79
Q26
74
109
207
449
87
1 102
87
143
148
551
123
975
66
92
200
535
82
27, 520
1,765
3,748
10, 585
8,497
2,925
32, 789
3,536
2,511
13, 981
6,909
5,852
32, 379
1,759
3,200
11, 179
12 464
3,777
39, 830
1,210
2,789
17, 139
11 282
7,410
28, 529
1,077
3,868
10, 267
10, 275
3,042
33,817
1,286
4,451
13, 676
9 790
4,614
37, 076
3,848
4,366
14,956
9 671
4,235
36, 795
2,687
4,621
13 568
11 083
4 836
43, 754
1 871
4 154
23 731
9 757
4 241
29, 592
3 134
3 166
11 431
8 623
3 238
47, 774
4 341
4 082
23 043
11 770
4 538
57, 280
3 506
7 255
15 359
26 043
5 117
42, 512
1 648
3 692
20 56H
12 030
4 574
INDU STRIA L AND COMMERCIAL
FAILUREScf
Failures, total
.
Commercial service
Construction
Manufacturing and mining
Retail trade
_
Wholesale trade
_
Liabilities, total—.
Commercial service
_. __ Construction
Manufacturing and mining _ _
Retail trade
Wholesale trade
- .
number _
do
do
do
do
do
thous. of dol..
do
do
do
do
do
»• Revised.
*> Preliminary.
fRevised series. For manufacturers' inventories and orders, see corresponding note on p. S-3. Beginning 1953, data for operating businesses and business
turnover will be published on a semiannual basis; revised annual data for number of operating businesses (1929-52), new and discontinued businesses (1940-52), business transfers (1944-52),
semiannual data for operating businesses (second half 1944-52) by industry, and revisions for first three quarters of 1952 for all series as above (except transfers) are shown in the January 1954,
SURVEY.
9 Includes textiles, leather, paper, and printing and publishing industries; unfilled orders for other nondurable-goods industries are zero.
JFor these industries (food, beverages, tobacco, apparel, petroleum, chemicals, and rubber), sales are considered equal to new orders.
cTData are from Dun & Bradstreet, Inc.
SUEVEY OF CUKRENT BUSINESS
Juwe 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
8-5
1953
April
May
June
July
August
1954
September
October
November
December
January
249
229
249
234
254
238
259
240
233
207
420
254
222
236
208
443
258
210
February
March
April
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products!
1910-14=100..
Crops
--do
Food grains
do
Feed grains and hay
do
Tobacco
do
Cotton
.. do
Fruit
do
Commercial vegetables, fresh market
do
Oil-bearing crops
do
Livestock and products
Meat animals
Dairy products
Poultry and eggs
. . -
.-do
do
do
do
Prices paid:
All commodities and services
do.
Family living items
.
-do
Production items
do
All commodities and services, interest, taxes, and
wage ratest
1910-14 — 100
259
246
244
213
424
267
207
233
289
270
299
263
219
263
247
242
212
426
269
206
259
286
277
317
256
218
257
246
222
204
425
267
219
298
280
267
300
255
213
260
237
255
232
218
204
426
270
193
215
205
430
278
185
252
268
207
263
280
319
276
305
261
223
265
229
257
235
219
207
452
280
204
191
251
276
299
275
230
223
194
439
275
189
229
195
433
269
205
230
205
427
260
237
256
239
258
237
238
208
443
263
212
257
240
234
208
443
267
217
225
283
198
255
218
263
224
269
271
268
233
269
246
275
266
273
263
267
269
285
277
315
271
316
288
224
282
218
277
309
257
188
271
333
^37
178
282
234
274
213
267
208
263
269
257
'263
'256
270
260
271
248
261
271
250
262
273
249
259
270
247
258
270
246
259
270
248
260
270
250
263
271
254
264
271
255
264
272
255
273
9
5ti
276
277
278
282
282
283
283
92
91
90
91
9f,5
280
280
277
279
279
277
do ...
92
94
93
93
91
63
90
90
91
All commodities (U. S. Department of Commerce
index)
1935-39=100--
207.9
208.2
209,7
210.1
210. 1
210.3
210 0
208 9
209.1
209 5
208 9
208.3
208.1
Consumer price index (U.S. Department of Labor) :
All items
1 947-49 =100_Appar^l
do. __
Food
^°
Dairy products
..
.. -do
Fruits and vegetables
.-do
Meats poultry and
fish
. do. .-
113.7
104.6
111.5
109.0
115.0
106.8
114.0
104.7
112.1
107.8
115.2
109.2
114.5
104.6
113.7
107.5
121.7
111.3
114.7
104.4
113.8
108. 3
118.2
112.0
115.0
104 3
114. 1
109 1
112.7
114 1
115 2
105 3
113 8
109 6
106.6
113 5
115 4
105 5
113 6
110 1
107.7
111 1
115 0
105 5
112 0
HO 5
107.4
107 0
114 9
105 3
112 3
110 3
109.2
107 8
115 2
104 9
113 1
109 7
110.8
110 2
115 0
104 7
112 6
109 0
108.0
109 7
114 8
104 3
112 1
108 0
107.8
109 5
i 114.6
104 1
112. 4
104 6
110.0
110 5
117.0
106.5
107.8
122.1
120.2
112.5
107.9
129.4
117.9
117.1
106.6
107.6
123.0
120.7
112.8
108.0
129.4
118.0
117.4
106.4
108 0
123.3
121.1
112.6
107.8
129.4
118.2
117.8
106.4
108 1
123.8
121.5
112.6
107.4
129.7
118.3
118 0
106.9
107 4
125 1
121.8
112 7
107 6
130 6
118 4
118 4
106.9
108 1
126 0
122 6
112 9
107 8
130 7
118 5
118 7
107.0
108 1
126 8
122 8
113 2
108 6
130 7
119 7
118 9
107.3
108 3
127 3
123 3
113 4
108 9
130 1
120 2
118 9
107.2
108 1
127 6
123 6
113 6
108 9
128 9
120 3
118 8
107.1
107 2
127 8
123 7
113 7
108 7
130 5
120 3
118 9
107.5
107 2
127 9
124 1
113 9
108 0
129 4
120 2
119 0
107.6
107 2
128 0
124 4
114 1
108 2
129 0
120 1
118 5
107. 6
106 1
128.2
124 9
112 9
106 5
129 1
120 2
r no 5
111 0
Parity ratio 9 1
-
-
RETAIL PRICES
Housing
Gas and electricity
Housefurnishings
Rent
Medical care
Personal care
Reading and recreation
Transportation
_._ .
Other goods and services
do
do
do
do.
-do
do
do
do
do
WHOLESALE PRICESd1
U. S. Department of Labor indexes:
All commodities
1947-49=100
109.4
109.8
109.5
110.9
110 6
111 0
110 2
109 8
110 1
110 9
110 5
Farm products
__
__ _do_ __
Fruits and vegetables, fresh and dried--do
Grains
- -- -- do
Livestock and live poultry ._
do
97.3
106.9
93.8
87.5
97.8
105.4
93.4
91.7
95.4
109.9
84.2
86.8
97.9
94.7
85.4
95.9
96 4
98.0
86 5
88.1
98 1
96.0
88 3
90 6
95 3
94.2
87 9
82 0
93 7
94.2
89 3
78 4
94 4
89.8
90 6
83 9
97 8
91.2
91 3
91 8
97 7
89.7
91 6
91.3
Foods, processed.
—
do
Cereal and bakery products
do
Dairy products and ice cream
do
Fruits and vegetables, canned and frozen
1947-49 = 100. _
Meats poultry and
fish
do
103.2
109.2
108.5
104.3
109.0
107.9
103.3
107.9
107.7
105.5
108.5
110.0
104.8
108.4
110 7
106.6
110.8
IV 3
104.7
112.0
112 7
103.8
112.6
113 9
104.3
112.2
111 3
106.2
112.4
109 4
104.8
112.7
107 4
104.4
89.2
104.0
93.8
103.7
91.6
105.0
97 0
104.7
93 6
104.7
97 4
104.9
88 9
104.7
86 2
103.9
89 7
103.8
96 4
Commodities other than farm products and
foods
1947-49=100
Chemicals and allied products
. do
Chemicals, industrial ... . ...
do.. .
Drugs, Pharmaceuticals, cosmetics. .. do
Fats and oils inedible
do
Fertilizer materials
do. _
Prepared paint ©
.
do
113.2
105.5
117.0
93.0
55.9
113.2
110.5
113.6
105.5
118.0
93.1
49.9
112.9
HO. 8
113.9
105.6
119.2
93.1
46.6
110.6
110.8
114 8
106.2
120.2
93.6
46.7
113.8
110.7
114 9
106 3
120.2
93.5
46 9
113.8
110.7
114 7
106 7
120 0
93.5
51 1
113 0
111 0
114 6
106 7
119 5
93.5
53 3
112 9
112 1
114 5
107 2
119 2
93.5
58 0
112 9
112 7
114 6
107 1
118.6
93.8
58 6
113.9
112 7
r
98 4
89.6
93 0
92 4
99 4
97.4
92 9
94 9
r 106 1
105.3
112.6
105. 9
113.2
•103 0
103.0
92 9
103.0
92 8
103.3
94 3
114 6
107 2
118 4
93.9
61 2
114 0
112 8
114 4
107 5
118.4
93.9
63 5
114.0
112 8
r H4 2
107 4
117 9
93.9
60 5
114 0
112 8
114 5
107 2
117 4
94.0
59 g
114. 1
112 8
Fuel, power, and lighting materials
do
Coal
do
Electricity
do
Gas
..
do
Petroleum and products .
do
Furniture and other household durables
1947-49 = 100.Appliances, household. ._ _
do
Furniture, household
do
Radios
do
Television sets
._
do
107.4
111.2
98.0
109.5
109.3
107.1
110.8
97.4
108.2
109.4
108.3
111.2
98 5
108.2
111.1
111.1
111.8
98 5
106. 1
116.8
111.0
Jll 7
99 1
105.7
116.5
110.9
112 3
98 0
106 0
116.5
111.2
112 5
98 5
106 6
116.6
111.2
112 5
99 6
106 3
116.3
111.1
112 5
100 7
109 6
114.9
110.8
111 9
100 7
111 8
114.2
110.5
110 9
101 3
113 5
113.5
' 109. 2
107 9
r 102 9
T
111 5
111.5
108.6
104 1
101 8
112 3
112. 1
113. 9
108.0
113.8
94.9
74.9
114.1
108.1
114.0
94.9
74.9
114.3
108.1
114.1
95.4
75.0
114.7
108.8
113.8
95.0
74.3
114.8
108.9
113.8
95.0
74.0
114.9
109 1
114.2
94 8
74 2
114.8
109 0
114.2
94 8
74 2
114.9
109 0
114.1
94.3
74 2
115.0
109 1
114.1
94.3
74 0
115.2
109 6
114.2
96 1
73 5
115.1
109 7
113.9
96 1
73 8
r
115. 0
r 109 5
r
113. 7
95 7
73 §
115.6
109 9
113. 6
95 7
73 8
Hides, skins, and leather products
Footwear .
Hides and skins..
_
Leather
.
Lumber and wood products
Lumber
97.9
111.5
66.4
92. 7
122.2
121.5
100.4
111.5
74.8
97.3
121.8
121 0
101.0
111.7
76.3
98.0
121. 5
120 7
100.0
111. 7
73.4
96. 1
121.1
120 2
99.9
111.8
74.6
95 0
120.4
119 3
99.7
111 8
74.2
94 5
119.2
118 3
97 1
111 7
64.4
90 4
118.1
117 2
97.1
111 8
64.3
90 4
117.3
116 3
95. 6
111 8
57.7
88 7
117.4
116 4
95.3
111 9
56.8
88 1
117.0
115 9
94.9
111 9
55.4
87 4
116.8
115 5
do. __
do
do
do
do
do
r
94 7
111 9
56.0
86 3
116. 7
115 6
r
r
94 »>
' 111 9
56. 5
86 0
116.2
115 3
fr 124 5
124 4
123.7
122.4
Machinery and motive products
do
123.4
122.0
122.9
124 2
124 0
124 5
124 4
124 3
124 1
Agricultural machinery and equip do _
122.4
122 3
122.7
122.6
122.3
123 0
122.5
122.3
122 7
122 5
122 4
122.3
122 3
r
Construction machinery and equip,. do
130.8
129.1
129.4
128.6
130.9
131.2
131.5
130.5
131.1
131. 7
131.6
131.0
131.1
124.8
124. 2
Electrical machinery and equipment-do
126. 8
121.3
122.6
126.8
126. 6
126.2
125.6
126.8
126.8
126. 5
126.5
Motor vehicles
do
118.5
118.6
118.9
118.9
118.6
118.6
118.6
118.6
118.9
118.9
118.9
118.5
118.5
' Revised.
1 Index on base previously used (1935-39=100) is 191.6.
§ Revised beginning 1910 to incorporate revisions in the component price series and to reflect changes in the basic weights; revised annual data for 1910-53 for prices received appear on p. 23
of the April 1954 SURVEY. May 1954 indexes: All farm products, 258; crops, 249; food grains, 227; feed grains and hay, 207; tobacco, 446; cotton, 272; fruit,215; commercial vegetables, 279;
oil-bearing crops, 286; livestock and products, 267; meat animals, 331; dairy products, 230; poultry and eggs, 168.
{Revisions for 1937-53 for prices paid and 1910-53 for parity ratio appear
on p. 24 of the April 1954 SURVEY.
9 Ratio of prices received to prices paid (including interest, taxes, and wage rates).
o^For actual wholesale prices of individual commodities, see respective commodities.
©Wholesale price index for paint and paint materials, published in issues of the SURVEY prior to March 1954, has been discontinued.
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
June 1954
1
1953
April
1
1
May
June
July
August
September
October
November
D
1954
f^-| January
Fe
U
a^ -
April
March
COMMODITY PRICES—Continued
WHOLESALE PR 1C EScf— Continued
U. S. Department of Labor indexes:— Con.
Commodities other than farm prod., etc.— Con.
Metals and metal products
1947-49=100..
Heating equipment
do
Iron and ^teel
do
Nonferrous metals
do
Nonmetallic minerals, structural
do
Clay products
do
Concrete products
do
Gypsum products
do
Pulp paper, and allied products
Paper
_ _ _
Rubber and products
Tires and tubes
Textile products and apparel
Apparel
Cotton products
_
Silk products
Synthetic textiles
Wool products
do
do
do
do
.. do
do
do
do
do
-- do.
Tobacco mfrs. and bottled beverages
do
Beverages alcoholic
do
Cigarettes
-- do
125.0
113.8
127.7
128.2
116.9
124.6
114.2
122.1
125. 7
114.4
128.9
126.6
117.2
124.7
115.5
122.1
126.9
114.6
130.9
127.6
118.1
125.1
115.5
122.1
129.3
115. 1
135 7
126.4
119.4
131. 1
115.6
122.1
129. 4
115 6
136 2
124 5
119.6
131 4
116.1
122. 1
128.5
115 8
134 6
122 8
120.7
132 0
117.4
122 1
127.9
115 8
133 4
122 1
120.7
132 0
117.4
122 1
127.9
115 8
133 6
122 3
120.8
132 1
117.4
122.1
127.5
115 5
132 8
122 1
120.8
132 1
117 2
122 1
127.2
115 3
132 0
121 5
120.9
131 9
117 2
122 1
126.2
114 8
131 0
119 8
121.0
131 9
117 6
122 1
115.3
124.9
124.8
126.3
97.4
99.9
92.9
131. 6
88.0
111.3
115.4
124.9
125. 4
126.3
97.6
99.9
93.3
133.0
87.4
112.0
115.8
124.7
125.0
126.3
97.4
99.4
93.4
134.7
87.5
111.6
115.8
125.1
124.6
126.4
97.5
99 3
94.1
134.7
87 5
111. 7
116.2
125.9
123.5
125 1
97.5
99 3
94.1
134 7
86 7
111 8
116 9
126.5
124 0
126 4
96 9
98 5
93.7
134 7
86 7
111 2
117 5
126.6
124 2
130 1
96 5
98 7
92.4
135 8
85 9
111 6
117.3
126.8
124.3
130 1
96.2
98 7
91.6
136 5
85 2
111 5
117 1
126.8
124 8
130 1
95 8
97 9
90 9
139 3
85 5
112 1
117 0
126.8
124 8
130 3
96 1
99 1
90 4
142 1
85 4
111 0
117 1
126.8
124 6
130 3
95 3
98 8
88 8
135 8
85 4
109 0
114.8
110.0
124,0
114.8
110.0
124.0
114.9
110.0
124.0
115.6
110 0
124.0
115. 6
110 0
124 0
116 2
111 2
124 0
118 1
114 9
124 0
118.1
114 9
124.0
118 1
114 9
124 0
118 2
115 0
124 0
118 0
114 6
124 0
91.4
88.0
89.7
91.1
87.7
89.2
91.3
87.3
88.0
90.2
87.2
87.9
90.4
87.0
87.6
90.1
86 8
87.9
90.7
86 7
88.0
91.1
87 0
89.3
90.8
87 0
89 0
90 2
86 8
88 4
90 5
87 0
88 8
' 2 440
' 2 348
126.3
114 4
130 6
r 121 2
121.0
132 0
' 117 3
122 1
116 6
126.8
124 9
130 3
r
94 7
116 3
126.8
125 0
129 3
94 4
98 2
88 5
132 3
84 6
106 3
r gg 6
88 5
135 1
84 9
r 106 4
r
126. 8
114 5
131 1
123 4
120.8
132 0
117. 3
122 1
117 9
114 6
124 0
121 5
114 6
124 0
' 90 5
87 1
89 2
1
90 1
i 87 3
i 89 0
PURCHASING POWER OF THE DOLLAR
As measured by—
Wholesale prices
Consumer prices
Retail food prices
1947-49=100..
do
do
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY J
New construction total
mil. ofdol
Private, total
Residential (nonfarm)
New dwelling units
Additions and alterations
Nonresidential building, except
utility total
Industrial
Commercial
Farm construction
Public utility
._
.. do
do
- do
do
farm and public
mil of dol
_ _ .
do
do
_ . _ _ do
.-do
Public, total
Residential
Nonresidential building
Military and naval
Highway
Conservation and development
Other types
-
do
do
do
do
. do
do
-. do
_
' 2, 787
' 2, 960
' 3, 224
' 3, 325
' 3, 345
' 1, 896
964
850
94
' 2, 013
1,012
885
105
' 2, 187
1, 123
990
110
' 2, 218
1, 126
990
112
' 2, 223 ' 2 200 ' 2 154 ' 2 077
' 1 114 ' 1 093 ' 1 076 ' 1 034
'915
980
' 965
' 950
94
101
110
103
427
192
114
' 140
'356
'451
' 191
' 129
'161
'377
'479
'185
152
'174
'398
'891
49
'372
'111
' 195
'947
50
371
'113
'243
75
'95
' 1, 037
' 51
'377
' 122
'310
'78
'99
r 74
'90
' 3 362
'489
176
' 165
' 182
'408
493
174
169
' 185
'420
' 505
177
' 175
' 170
'422
' 1, 107
46
373
' 122
'382
' 77
' 107
' 1, 122
44
'376
' 120
'395
' 74
' 113
' 1, 162
46
'380
' 118
'428
' 73
' 117
'3 236
' 3 024
' 2 712
r 2 568
2 808
714 ' 1 643 r 1 791
' 1 917 ' 1
r
'951
816
' 758
850
' 730
'675
' 770
r 71
78
' 63
' 61
1 930
972
855
93
511
177
179
'140
'417
523
177
192
' 118
'393
' 507
' 177
182
' 103
'347
486
179
164
' 102
'303
'474
' 176
' 157
' 106
'298
469
173
154
' 114
338
465
169
152
127
358
1,082
46
'374
' 101
'379
' 70
'112
'947
' 353
'96
'286
'66
' 103
'795
39
'350
' 78
' 174
' 61
'93
'726
' 36
'354
' 65
' 130
51
'90
' 705
' 35
'347
' 61
' 125
' 46
'91
r 777
34
' 367
' 61
160
53
' 102
878
32
383
67
230
59
107
CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.):
40, 069
52, 544
55, 435
53, 304
55, 659
41, 379
35, 777
38, 361
46, 564
65, 521
50, 049
40, 787
42, 586
Total projects
number..
Total valuation
_
thous. of doL 1, 741, 542 1, 606, 091 1, 115, 509 1, 793, 342 1,414,408 1, 741, 673 1, 892. 388 1,394,050 1, 299, 764 1,151.987 1, 221, 260 1, 527, 517 1, 691, 868
372, 004
610, 348
672, 838
553, 760
484, 191 • 476, 550
478,814
532, 064
363, 087
724, 682
435, 799
689, 264
483, 160
Public ownership
- do
743, 505 1, 182, 994
1, 068, 704 1, 052, 331
788, 900
882, 344 1,016,991 1, 203, 124
820, 950
785, 461 1, 043, 326 1,215,318
910, 890
Private ownership
do
Nonresidential buildings:
Projects
Floor area
Valuation
Residential buildings:
Projects
Floor area
Valuation..
Public works:
Projects
Valuation
Utilities:
Projects
Valuation
-- number..
thous. of sq. ft
thous. of dol
5,416
44, 455
680, 330
5,728
45, 640
582, 061
5,020
35, 185
459, 230
6,209
57, 374
764, 393
5,267
40, 292
545, 851
4,675
38, 407
783, 266
5,316
52, 435
758, 130
4,199
40, 368
611,857
3,804
36, 450
540, 338
3,661
33, 937
473, 077
3, 871
32, 259
468, 712
4,936 i
41, 561
532, 060 ;
5, 406
45, 971
605, 427
number..
thous. of sq. ft
thous. of dol._
47, 761
70, 602
673, 887
44, 317
66, 655
637, 721
32, 745
49, 797
463, 084
44, 227
70, 206
653, 407
38, 554
53, 242
507, 560
35, 712
52, 470
507, 430
42, 610
65, 908
634, 582
35, 668
50, 247
484, 168
30, 492
46, 614
433, 500
33, 442
48, 156
462, 482
35, 621
52, 706
508, 773
48, 718 I
69, 631
667, 737
57, 531
80, 422
796, 133
.number..
thous. of dol._
1,849
293, 569
2,094
288, 783
1,874
138, 257
2,336
269, 600
2,335
304, 917
1,796
269, 625
1,693
270, 064
1,177
239, 827
1,153
226, 634
951
134, 304
1,007
191, 855
1,623
209, 986
2,040
219, 400
!
number..
thous. of dol__
409
93, 756
405
97, 526
430
54, 938
532
105, 942
408
56, 080
403
181,352
430
229, 612
335
58, 198
328
99, 292
307
82, 124
288
51, 920
382
117, 734 !
544
70, 908
Value of contract awards (F. R. indexes):
Total unadjusted
_._
1947-49=100..
Residential unadjusted
do
Total adjusted
do
Residential adjusted
- do
205
210
179
179
195
194
161
164
197
192
169
174
189
178
172
175
216
183
205
1S4
221
181
218
180
220
178
230
183
201
170
224
176
168
151
208
177
161
154
195
185
171
180
196
201
' 194
'216
' 191
'205
216
250
191
213
794,315 1, 510, 921
766, 320
766, 601
Engineering construction:
Contract awards (ENR)§
-
thous. ofdol.. 1,460,244 1, 083, 795 1, 318, 070 1, 262, 992 1,111,213 1,116,572 1, 469, 252
Highway concrete pavement contract awards :O
Total..
thous. of sq. yd__
2
6,605
3,258
4,726
148
100
1 748
2
1,774
4, 336
1,852
Roads
-do
2
2,121
1.384
1.125
Streets and allevs
__
do
l
' Revised.
Indexes on base formerly used (1935-39=100) are as follows: Measured by—wholesale prices, 47.1; consumer prices, 52.2; retail food, 44.0.
awarded in prior months but not reported.
d*For actual wholesale prices of individual commodities, see respective commodities.
J Re visions for 1950-March 1953 will be shown later.
§Data for April, July, October, and December 1953 and April 1954 are for 5 weeks; other months, 4 weeks.
©Data for April, July, and September 1953 and March 1954 are for 5 weeks; other months, 4 weeks.
9,537
1,675
4,590
3,273
8,333
413
5,237
2,682
5, 698
278
3, 315
2,105
8,658
973
4,232
3,453
7,810
1, 056
3,798
2,956
7,187
1,102
4,066
2,019
6,094
822
3,691
1,582
2
933, 637 1, 439, 441
6,075
4,036
7, 791
1 078
1 299
1 211
2,347 ;
1,007
4 005
1.729
2.649
2. 575
Data include some contracts
SURVEY OF CURRENT BUSINESS
June 1954
S-7
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April
May
June
July
August
September
October
November
December
January
February
March
April
CONSTRUCTION AND REAL ESTATE—Continued
NEW DWELLING UNITS AND URBAN
BUILDING
New permanent nonfarm dwelling units started
(U.S. Department of Labor)
number. . 111, 400
Urban building authorized (U. S. Dept. of Labor):
60, 196
New urban dwelling units, totalt
number. _
57, 222
Privately financed, totalj
do
46,
074
Units in 1-family structures!
do
3,524
Units in 2-family structures!
do
7,624
Units in multifamily structures!
do__ _
2,974
Publicly financed total
do
Indexes of urban building authorized:
133.7
Number of new dwelling units
1947-49= 100
183.4
Valuation of building total
do
181.4
New residential building
_do
200 9
151.2
Additions alterations and repairs
do
90, 100
81, 500
65, 800
66, 000
73, 000
97, 000
i 110,000
46, 149
42, 900
33, 626
2,399
6,875
3,249
43, 381
43, 143
34, 536
2,676
5,931
238
35, 707
34, 150
27, 807
2,098
4, 245
1,557
32, 753
31, 987
24, 156
2,028
5,803
766
33, 669
31, 855
23, 185
1,489
7,181
1,814
38, 916
37, 784
29, 705
1,882
6,197
1,132
'55,546
53, 595
43, 349
2,488
7, 758
r
1,951
57, 773
56, 807
47, 082
2,526
7,199
99.6
144.9
141.0
154 4
137.9
100 9
144.7
143.3
144 7
149 6
94 8
141.8
133.8
156 6
138 0
78 5
121.5
109.7
145 8
109 7
71.7
109.9
96.2
137 7
97 4
73.6
108.4
95.2
132 2
93. 1
84.2
115.1
113.7
122.3
103.9
119.5
159/5
165. 4
163.3
128.5
123.1
123.1
123.1
392
122.8
122.9
123.0
392
' 121. 9
' 121.0
' 121. 3
393
121.2
573
616
592
526
568
411
580
639
601
526
574
411
583
639
601
526
574
416
583
639
601
521
574
417
584
640
604
524
572
418
585
641
609
525
576
418
585
641
609
525
576
418
584
641
623
522
576
422
585
641
624
522
576
420
586
641
624
529
579
420
585
639
623
530
577
249.2
247.4
255.5
251.3
249.6
257.1
254.2
252.2
259.0
254. 9
253.0
258.7
255.8
253.5
258 3
255.6
253.2
257 3
256.0
253 7
257 4
256. 3
253 8
257 1
254.9
251 9
255 2
254.3
250.9
253 7
254.0
250.7
253 7
254.2
250 2
252 8
253.2
249.5
251.3
256.6
233.3
255.2
251.0
252.3
257.4
234.2
257.5
254.7
254.0
259.2
239.1
260.5
257.4
255.8
261.2
241.2
261.0
257.8
256.0
260.0
241.6
262.0
258.7
256.0
259 0
242.3
261.9
258.6
255. 2
257 6
242. 5
262 2
258. 9
255 3
257 8
242 8
262
259
255
257
243
5
1
1
2
0
261 4
257.9
2f-3 5
254 7
241 9
260.4
257. 3
252.5
252 5
241.3
260.2
257.2
252 5
252 7
241.2
261 0
257.4
251 9
251 5
241 2
255.1
251.4
256.0
252.0
257.4
253.5
259.4
255.4
259.0
254.6
258 8
254.1
257 8
252 9
257 9
253 0
257 7
252 6
255 7
250 5
254 2
248 3
254 2
248 9
253 4
247 4
126.1
130.2
126.1
131.1
128.7
133. 5
129.2
135.2
129.0
134.9
129.0
135 0
129.0
135 1
128 9
135 0
129 2
135 5
129 4
135 7
129 3
135 5
129 5
135 8
129 7
136 6
108, 300
104, 600
96, 700
93, 200
55,199
52, 742
42, 478
3,296
6,968
2,457
54, 064
51, 732
41, 362
2,635
7,735
2,332
47, 267
46, 697
37, 015
2,906
6,776
570
45, 621
44, 539
35, 689
2,254
6,596
1,082
120.7
164.4
164.4
172.5
145.9
118 0
160.0
160.3
159 8
159.5
103.3
159.7
144.9
184 5
158.0
120.8
121.1
122.1
385
572
614
587
525
564
401
572
616
592
524
568
402
247.7
246.2
254.6
95, 100
966
CONSTRUCTION COST INDEXES
Department of Commerce composite! 1947-49 =100. _
Aberthuw (industrial building)
1914=100
American Appraisal Co., The:
Average 30 cities
1913 =100- .
Atlanta
do
New York
do
San Francisco
do
St Louis
do
Associated General Contractors (all types). .do
E. H. Boeckh and Associates:!
Average, 20 cities:
Apartments, hotels, and office buildings:
Brick and concrete. _U. S. avg. 1926-29= 100. .
Brick and steel
do. _ _
Brick and wood
do
Commercial and factory buildings:
Brick and concrete
- do
Brick and steel
do
Brick and wood
do
Frame
do
Steel
do
Residences:
Brick
do
Frame
do
Engineering News- Record :cf
Building
1947-49=100-.
Construction
-- - do
Bu. of Public Roads— Highway construction:
Composite, standard mile
1946= 100. .
133.2
133.9
131 8
422
127.7
CONSTRUCTION MATERIALS
Production of selected construction materials, index:
Unadjusted
1939=100-Adjusted
-do
172.2
173.2
167.3
158.1
176.1
164.6
174.0
163.5
177.5
156 8
178 6
166 1
185 7
167 6
160 1
161 6
147 1
166 4
138 0
161 6
r 144 7
T 175 4
v 169 3
v 179 2
154, 255
268, 144
161, 872
225, 681
REAL ESTATE
Home mortgages insured or guaranteed by—
187, 078
185, 610
193, 071
203, 130
Fed. Hous. Adm.: Face amount. -_thous. of dol__ 201, 159
193, 538
185, 545
172, 353
183, 443
173, 057
215, 950
235, 113
241, 928
Vet. Adm.: Face amount
do
229, 347
247, 905
291, 656
309, 429
284, 905
247, 561
252, 433
Federal Home Loan Banks, outstanding advances
644
626
718
to member institutions
mil. of dol
746
700
819
801
952
751
865
New mortgage loans of all savings and loan associa690, 277
733, 216
706, 631
757, 569
tions, estimated total
.thous. of dol._ 677, 941
688, 142
684 245
494 859
585 915
583 538
By purpose of loan:
231, 676
225, 896
241, 284
217, 925
Home construction
do
236, 513
218 785
208 137
190 304
151 935
187 422
288, 443
295, 337
327, 046
355 316
Home purchase
do
339 956
318 359
328 453
265 424
217 119
258 641
58, 627
60, 425
59 961
Refinancing
do
4.8 *}94
51 969
58 476
52' 094
50 671
45 705
47 548
26, 062
27, 643
Repairs and reconditioning _
... do
27, 307
27 059
27 438
27 043
27 204
19 454
19 672
15 992
77, 115
76, 994
77, 618
All other purposes
.
do_
69, 343
80 221
71 845
69 780
62 265
65 028
69 479
New nonfarm mortgages recorded ($20,000 and
under) estimated total
thous of dol 1, 708, 623 1, 698, 634 1, 769, 259 1 797 760 1 709 392 1 728 508 1 745 841 1 548 645 1 622 326 1 372 242
14.0
12.8
13.0
14.8
Nonfarm foreclosures, adjusted index-1935-39=100-14.2
14.2
13.1
13.6
14.7
67, 362
64,239
67, 644
107 713
Fire losses
thous of dol
74 938
68 613
68 551
68 064
83 440
86 493
152, 886
249, 213
677
630
613
539 359
710 130
731 533
176 074
219 846
M ' Q^Q
19 314
69 166
245 604
288 212
1 49^ 1 Q1*
70
256 844
OQ7' OQC
fifi 007
25 602
84 315
1
7QO
OC
I <JC>
85 444
r -I Q
QOO
84 821
161
166
136
152
130
64
224
165
166
133
159
140
66
224
DOMESTIC TRADE
ADVERTISING
Printers' Ink advertising index, adjusted:!
Combined index
.1947-49=100
Business papers
do
Magazines. _ _ . _
.
do
Newspapers.
do
Outdoor _ _
._ -.
do
Radio (network)
do
Television (network) 9
. . .1950-52=100
158
161
135
'155
135
69
172
161
162
136
158
138
66
181
162
161
139
157
134
68
187
167
159
133
160
142
77
226
155
164
121
156
136
73
187
164
164
132
167
136
71
185
166
162
140
162
140
66
206
167
183
137
160
145
67
211
162
168
135
164
153
69
216
164
165
138
162
144
64
225
165
163
134
160
138
60
240
Tide advertising index, unadjusted.. .1947-49=100-.
' 168. 0
174.6
158.6
126.6
124.8
161.8
188.8
146.4
183.3
130.3
146.7
172.8
180.0
r
Revised.
v Preliminary.
1 Data for May 1954, 106,000.
{Revisions for dwelling units authorized for January-July 1952 will be shown later. Minor revisions back to 1915 for the Department of Commerce construction cost index are shown in
the May 1953 Construction and Building Materials Statistical Supplement.
§ Copyrighted data; see last paragraph of headnote, p. S-l.
cf Data reported at the beginning of each month are shown here for the previous month.
t Revised series. Data reflect the adoption of a more recent comparison base (except for television) and adjustments of the radio and television components to cover only the network
portion of these media. Revisions prior to January 1953 will be shown later.
9 Notice that the base for television differs from that of other media.
SURVEY OF CUEKENT BUSINESS
S-8
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
June 1954
1954
1953
April
May
June
July
August
September
October
November
December
January
February
March
April
DOMESTIC TRADE—Continued
ADVERTISING—Continued
Radio advertising:
Cost of facilities, total..
thous. of dol-_
Automotive, incl. accessories
do
Drugs and toiletries
do
Electrical household equipment
_ _ _ do
Financial and insurance
do
Foods, soft drinks, confectionery
_ - do
Gasoline and oil
do
Soaps, cleansers, etc
do
Smoking materials
do All others
do
Magazine advertising:^
Cost total
Apparel and accessories
Automotive, incl accessories
Building materials
Drugs and toiletries
Foods soft drinks confectionery
Beer wine, liquors
Household equipment and supplies
Household furnishings
Industrial materials
Soaps cleansers etc
Smoking materials
All other
Linage total
--
-
223
3,607
402
1,331
1,415
2,079
14, 107
511
4,288
377
236
3,550
372
1, 238
1,420
2,115
13, 247
557
4,129
433
238
3,047
386
1,372
1,370
1,715
12,226
607
3,684
435
226
2,985
412
1,335
992
1,550
11, 707
679
3,363
366
290
2,690
396
1, 304
876
1,742
12,145
739
3,466
408
291
2,666
345
1,368
929
1,933
13, 829
979
3,901
310
287
3,101
338
1,429
1,271
2,214
13, 667
1,034
3 658
249
222
2,988
461
1. 399
1,331
2,324
14, 185
896
3,935
284
255
3,256
539
1,482
1,353
2,185
do
do
do _ _
do
do
do
do
r 65, 912
' 4, 598
' 6, 131
' 3, 942
' 6, 428
'r 8, 271
2, 667
67, 606
5,536
6,400
4,340
6,572
7, 831
2,630
57, 876
3,771
5,894
3,498
7,150
8,016
2,452
37, 505
932
4,265
1,832
5,744
6, 179
1,809
42, 740
4,300
4,977
1,881
5,429
6,056
1,402
60, 152
7,110
4,484
3,428
6,419
7,433
2,062
72, 670
5,856
5,770
3,604
7,915
10,010
3,126
69, 846
5 071
5.405
2 193
7, 555
9,599
3,888
47, 531
3,725
2,617
1,094
5, 109
7. 035
4,165
38, 847
1 971
4,657
1,741
4,920
6,400
1,287
do
do
do
do
do
do .
«• 5, 612
r 4, 290
' 3, 921
'r 1, 720
1, 269
' 17, 063
5,561
3,791
3,996
1,940
1,700
17, 308
4,570
2,087
3,891
1,615
1,677
13, 252
2,117
647
2,607
1,073
1,191
9,109
1,592
1, 501
2,986
1, 165
1.379
10, 071
3, 788
3,077
3, 678
1,300
1,581
15, 793
4,985
4,596
4,640
1,661
1,754
18, 753
3,874
3,826
4 999
1,446
1,603
20, 386
2,975
1,904
3,277
618
1,702
13,310
4,699
4,445
3,360
3,205
4,136
4,965
5,230
4,406
233, 487
58, 194
175, 292
12, 535
2,910
35, 090
121, 758
244, 446
62, 385
182, 061
13, 493
2,549
36, 191
129, 828
215, 965
56, 330
159, 635
13, 550
2,691
31,171
112, 223
187,997
53, 368
134, 629
11,581
3,074
24,531
95, 442
198,647
56, 553
142, 095
11,417
2,021
23, 034
105, 623
219, 558
54, 175
165, 383
11,910
2,515
31, 684
119, 275
244, 370
55, 833
188, 537
14,312
2,776
39, 186
132, 263
6,946
128, 270
6,385
117, 261
6,657
126, 017
6,299
119, 269
5,856
117, 247
6,281
122, 917
6,556
119,218
thous. of lines. _
Newspaper advertising:
Linage total (52 cities) Classified
Display total
Automotive
-Financial
General
_ __ _
--
Retail
14, 218
508
4,268
385
do
do
do ._
-do
do_ do
-do
1,428
1,161
2, 286
12, 258
785
3,413
297
242
2,64^
441
1,358
808
2,266
52, 302
3 274
4,726
2 351
6,422
9 073
2,037
64, 830
5, 013
6,237
3,516
6, 825
9,905
2,490
66, 705
6,004
5, 769
4,224
6,803
8,499
2,743
854
1,169
2,638
896
1,211
11,102
2,398
1,709
3 190
1, 137
1 431
14, 553
4,217
2 742
3,818
1,594
1,943
16, 530
4,586
3,624
4,082
1, 615
1,564
17, 192
3,161
3,655
4, 131
4,754
4,551
241, 346
50, 718
190, 629
12, 579
2.789
37, 773
137, 488
224, 299
43, 297
181,001
10, 048
2,897
27, 608
140, 449
182, 932
46, 054
136, 878
10, 192
4,071
22, 626
99, 989
180, 732
44, 499
136, 233
9,240
2 457
26, 573
97, 963
216,155
50, 024
166,131
11,336
3,099
34, 084
117,611
233, 264
51, 778
181, 486
14, 147
3,065
33, 979
130, 295
5,995
113, 791
6,669
125, 106
6,112
116, 272
6,501
7,199
7,180
' 13, 286 '12,205
T
••774
781
r
r
3 393
3 710
253
251
238
235
' 3,
012 r o 7QS
T
509
640
r
r
1. 263
1, 2^3
1,183
1,068
T
r
2, 214
1,914
'r 13, 895
1,063
r
3 713
278
254
r
3, 136
r
r
r
577
POSTAL BUSINESS
Money orders issued (50 cities):
Domestic:
Number
- Value
thousands..
thous. of dol -
PERSONAL CONSUMPTION
EXPENDITURES
Seasonally adjusted quarterly totals at annual rates:
Furniture and household equipment
do
230.4
231.0
230 0
229.8
30.7
14 3
12.1
4 4
30.4
13.8
12.3
4.3
29
12
11
4
1
9
9
3
28.2
12.1
11.9
4.2
121.3
19.9
74.5
6.5
2.2
5.2
12.9
120
19
73
6
4
8
8
7
51
12 9
120.4
19.7
74.0
6.8
2.0
5.0
12,8
80 5
11 9
27 0
4 4
4.6
6 4
26 3
81.3
11.8
27.3
4.4
4.6
6.4
26.6
Food and alcoholic beverages
Gasoline and oil
Semidurable housefurnishings
do
do
do
Other nondurable goods
do
122. 1
20 9
74. 5
6 3
21
5 4
13.0
do
do
do
do
do
do
do
77 6
11. 5
25 8
4 3
4.4
6 3
25 4
Nondurable goods total
Services total
Household operation
Housing
Personal services
Recreation
Transportation
Other services
do
79.2
11.8
26.4
4.3
4.5
6.4
25.8
_
_ -.
9 1
-_.
RETAIL TRADE
All retail stores:
Estimated sales (unadjusted), totaL_mil. of dol._
Durable-goods stores _ _ _
do
Automotive group
do
Motor-vehicle, other automotive dealers
mil. of doL .
Tire, battery, accessory dealers
do
Furniture and appliance group _
do _
Furniture, homefurnishings stores
do
Household-appliance, radio stores
do
14, 167
5,139
2,919
14, 665
5,400
3,093
14, 578
5,480
3 033
14, 385
5,378
3 068
14, 176
5, 189
2 838
14,082
5,003
2 737
14, 951
5,319
2,926
13, 955
4 742
2 531
16, 444
4,944
2,279
12, 339
3, 861
2 124
12,065
4,070
2,254
2,764
155
676
397
280
2,929
163
752
455
297
2,862
171
796
453
343
2,910
158
741
411
330
2,690
148
785
435
350
2,594
143
724
389
334
2,770
156
830
475
355
2,388
143
813
465
348
2,099
180
1,000
535
465
2,014
110
670
364
307
2,142
112
652
362
290
868
649
219
897
662
234
965
733
232
961
725
236
964
736
228
943
712
231
968
711
256
862
623
239
861
564
297
627
462
165
9,264
9,027
8,987
9,080
9.007
9,097
Nondurable-goods stores _
do
866
699
840
888
708
873
Apparel group
do
184
149
188
133
156
198
Men's and boys' wear stores
-do _
362
375
276
324
342
277
Women's apparel, accessory stores. . .do
173
151
161
192
170
172
Family and other apparel stores
do
129
149
131
167
155
161
Shoe stores
_do
392
383
377
397
396
390
Drug and proprietary stores
do
1, 024
1,085
1,188
1,147
1,093
1,181
Eatin? and drinking places
do
' Revised.
* Preliminary.
| Unpublished revisions for magazine advertising for January 1952-February 1953 will be shown later.
9,632
902
177
361
205
158
394
1,134
9,213
866
196
340
194
137
384
1,051
11, 500
1,364
352
524
291
196
516
1,096
8,478
678
160
271
132
115
407
988
Lumber, building, hardware group
do
Lumber, building-materials dealers _ . do
Hardware stores
do
r
13, 540
4, 768
2, 771
r
r
r
p 14, 276
p 4 963
v 2 841
2, 644
127
690
398
292
P 2, 699
143
695
407
288
654
482
172
738
542
196
808
587
221
7,996
604
134
250
116
103
394
962
8,772
715
152
297
143
124
401
1,004
9,313
949
198
379
188
185
398
1,035
SURVEY OF CTJKRENT BUSINESS
June 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-9
1954
1953
April
May
June
July
August
September
October
November
Decem- January
ber
February
March
April
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
All retail stores— Continued
Estimated sales (unadjusted) — Continued
Nondurable-goods stores— Continued
Food group
mil. of dol
Grocery stores
do
Gasoline service stations
do
3,395
2,742
826
3,485
2,858
888
3,377
2,781
916
3,478
2, 897
971
3,425
2,858
960
3,350
2, 783
908
3,567
2,997
914
3,291
2,740
898
3,618
3 018
914
3,357
2 837
855
3 112
2 607
800
3 340
2 799
870
3,374
2 818
903
General-merchandise group do
Department stores, excl. mail-order _ _ _ do
Mail-order (catalog sales)
._ ..do
Variety stores
do
Other general-merchandise stores
do
Liquor stores
do
1,479
829
98
245
306
249
1,536
879
98
235
324
261
1, 542
855
104
241
343
247
1,346
708
87
233
318
268
1,460
774
100
242
344
269
1,551
844
110
240
357
275
1,714
934
112
264
403
298
1, 753
963
140
257
394
294
2,748
1,477
181
526
564
462
1,167
624
75
176
292
269
1, 142
599
82
188
273
256
1,330
724
94
198
314
266
1,567
863
94
249
361
266
Estimated sales (adjusted), total
do
Durable-goods stores
do
Automotive group
_do_ _ _
Motor-vehicles, other automotive
dealers
mil . of dol
Tire, battery, accessory dealers . ..do
Furniture and appliance group
do
Furniture, homefurnishings stores do
Household-appliance, radio stores
do
14, 280
5.124
2,856
14, 424
5,154
2,871
14,412
5,103
2,816
14, 469
5, 102
2,836
14,073
4,914
2,629
13, 982
4,865
2,667
14,040
5,029
2,859
14, 104
5,005
2,776
13, 932
4 626
2,509
13 622
4 436
2 285
13 972
4 745
2 502
13 900
r 4 858
2 738
p 14 248
p 4 882
v 2 728
2, 695
161
744
424
320
2,712
159
778
448
330
2,663
153
786
441
344
2, 694
142
768
426
342
2,490
139
771
416
355
2,530
137
712
380
332
2,718
141
746
429
317
2,630
147
754
432
322
2,365
144
738
418
320
2, 148
137
784
443
341
2 349
153
779
453
326
861
652
209
852
634
218
848
633
215
872
637
235
900
671
229
880
657
223
856
618
238
893
657
236
820
597
223
827
599
228
_do
do
do
do
do__ _
do
9, 156
865
199
348
185
132
9,270
915
204
375
189
147
9,309
919
195
382
193
149
9,367
900
196
357
196
152
9,159
812
168
320
193
131
9,117
796
168
310
175
144
9,011
768
155
299
169
146
9,099
787
167
314
163
143
9,306
868
188
354
167
158
do ._
do
do
do
do
405
1,082
3,407
2,773
855
404
1,086
3,367
2, 759
854
402
1,086
3,394
2,785
868
393
1,115
3,434
2,860
874
391
1,100
3,413
2, 834
880
387
1, 077
3,444
2, 843
877
383
1.070
3,400
2,842
897
394
1,054
3, 375
2,838
910
1,526
835
107
254
329
271
1,628
902
118
265
343
268
1,634
898
116
264
357
275
1, 636
874
119
286
356
283
1,595
868
109
264
353
279
1,548
832
103
262
352
285
1,528
840
96
249
343
274
do
do
do
23, 161
11, 228
11,933
22, 760
11,028
11, 732
22, 141
10, 737
11, 404
22, 112
10, 706
11,406
22, 448
10, 547
11,901
23, 023
10, 615
12,408
Adjusted, total
do
Durable-goods stores
do
Automotive group
do
Furniture and appliance group
do
Lumber, building, hardware group. _. do
22, 387
10, 543
3, 569
2,048
2,567
22, 455
10, 526
3,528
2,070
2,572
22, 294
10, 472
3,573
1,980
2,574
22, 743
10, 730
3,810
1,981
2,555
22, 775
10, 624
3 737
1,987
2,531
Lumber, building, hardware group
do
Lumber, building-materials dealers. .-do
Hardware stores
_ _ _ do
Nondurable-goods stores
Apparel group
Men's and bovs' wear stores
Women's apparel, accessory stores
Family and other apparel stores
Shoe stores
_
Drug and proprietary stores
Eating and drinking places
Food group
_
Grocery stores
Gasoline service stations
General-merchandise group
_do
Department stores, excl. mail-order. _do
Mail-order (catalog sales)
do
Variety stores
. do
Other general-merchandise stores
do
Liquor stores
do
Estimated inventories:!
Unadjusted, total
Durable-goods stores
Nondurable-goods stores
_
__
r
T
r
2, 595
143
758
433
326
» 2, 582
146
777
440
337
849
619
230
784
570
214
781
566
215
9, 186
845
187
339
163
156
9 228
878
199
341
177
162
9,042
807
196
308
164
140
9,366
876
200
340
182
153
408
1 064
3,432
2 890
933
430
1 066
3 378
2 857
936
416
1 099
3 396
2 831
916
410
1 049
3 362
2 831
915
416
1 015
3, 372
2 841
938
1,571
857
106
252
356
278
1,629
870
118
260
381
308
1 505
823
96
236
349
316
1 528
822
100
250
357
297
1 490
806
98
226
360
289
1,606
857
104
250
394
292
23, 584
10, 589
12, 995
23, 628
10, 459
13, 169
21,208
9 876
11 332
21 369
10 233
11 136
22 046
10 476
11 570
r
23 321
12 408
23 347
11 076
12 271
22, 924
10, 921
3,937
2,038
2,520
22, 720
10. 727
3,875
2.028
2,424
22, 437
10, 574
3,768
1,994
2,419
22 661
10 668
3 748
2,039
2,495
22 521
10 688
3 895
1,984
2, 437
22 421
10 584
3 868
1, 994
2,351
r 22 563
r 10 486
r 3 807
2,013
2,313
22 686
10 408
3 773
1,992
2,315
11 837
2 612
2 416
3,' 668
12 077
2 726
2 437
3,732
12 278
2 8n
2 578
3,665
2 429
155
14
58
48
59
54
i 2 639
212
18
81
73
6°
54
27
P 04
737
346
84
r 10 913
Nondurable-goods stores
Apparel group
Food group
General-merchand ise group
do
do
do
do
11,844
2,528
2,258
3,851
11, 929
2,487
2,317
3,851
11,822
2,506
2,235
3,824
12, 013
2, 628
2,214
3,923
12, 151
2 593
2, 352
3,897
12,003
2,573
2,324
3,842
11, 993
2,573
2,314
3,857
11,863
2 527
2,289
3,823
11 993
2 521
2 344
3,858
11 833
2 594
2 394
3,673
Firms with 11 or more stores:
Estimated sales (unadjusted), total
Apparel group . _
Men's and boys' wear stores
Women's apparel, accessory stores ...
Shoe stores _
Drug and proprietary stores
Eating and drinking places ..
Furniture, homefurnishings stores
do
do
do
do.
do
do
do
do
2,546
180
17
70
60
60
56
24
2,604
180
17
72
58
62
58
30
2,576
178
17
68
62
62
59
26
2,460
142
11
59
49
63
61
24
2 501
138
10
59
46
62
59
27
2,524
171
13
65
59
60
60
25
2,760
188
18
73
57
64
59
30
2 587
176
20
69
48
60
53
32
3 457
287
35
113
81
88
57
33
2 240
120
12
45
37
60
50
2*?
718
338
747
376
750
362
652
306
705
325
726
335
798
372
801
352
1 282
509
*)01
990
104
183
1,013
62
54
102
177
1,050
63
56
108
184
1,015
68
60
92
172
1, 038
67
57
107
182
1 035
68
55
107
183
1 014
71
47
121
202
1 132
70
53
121
199
1 001
58
49
194
410
1 129
50
72
76
133
1 44
41
37
47
39
54
43
108
198
1 080
60
50
2,579
171
17
69
51
63
56
26
2,586
177
18
70
57
64
57
30
2,618
174
17
69
56
64
59
26
2,635
184
18
73
61
64
60
26
KXO
r 9 ^8^
r 9 P184
i 2 610
64
fi7
r R9
if
69
62
61
64
f>O
qn
29
General-merchandise group
do
Department stores
do
Dry-goods, other general-merchandise
stores
mil. of dol. .
Variety stores
do
Grocery stores
do
Lumber, building-materials dealers
do
Tire, battery, accessory stores
do
Estimated sales (adjusted), total
do
Apparel group . .
do
Men's and boys' wear stores . . . do
Women's apparel, accessory stores
do_
Shoe stores
do
Drug and proprietary stores
...do
Eating and drinking places ._
do
Furniture, homefurnishings stores. _
do.
2 572
169
16
69
55
63
57
26
2 562
165
15
63
55
63
59
25
2 532
168
15
65
54
63
57
27
2 569
173
17
68
^1
63
55
30
9
2 60
188
2()
75
9
2 150
' 113
10
45
qf>
57
49
OR
ci o
71
q1
nor-
eft
63
54
23
62
r^
9Q
ec
, 71 j793
745
OQO
General-merchandise group
do
795
782
778
7QA
735
716
698
760
O1 Q
Department stores ...
do
343
377
356
359
321
328
317
317
330
Dry-goods, other general-merchandise
r
r
112
stores
mil of dol
10Q
108
112
104
109
105
103
014
105
105
Variety stores.
do
190
200
201
208
198
199
190
196
203
Grocery stores.
_
do
1,018
992
1 030
1 045
1 044
1 066
1 059
1 060
64
Lumber, building-materials dealers
do
60
61
61
62
56
53
57
59
56
61
61
60
Tire, battery, accessory stores.
...do
58
54
54
47
50
47
51
52
50
51
52
••49
51
r
Revised.
v Preliminary.
» Excludes motor vehicle dealers' sales; such data are also excluded from this series for months prior to April 1954 (sales for April, unadj., $21 million;
adj., $20 million).
t Revised series. See corresponding note on p. S-3.
SUKVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
June 1954
1954
1953
April
May
June
July
August
September
October
November
December
January
February
March
April
DOMESTIC TRADE— Continued
RETAIL TRADE—Continued
Department stores:
Accounts receivable, end of month:
122
Charge accounts
_
1947-49=100
220
Instalment accounts
do
Ratio of collections to accounts receivable:
46
Charge accounts
percent-14
Instalment accounts 9
do
Sales by type of payment:
47
Cash sales _ _ _
_
percent of total sales. _
43
Charge account sales
do
10
Instalment sales
do
104
Sales unadjusted total U S t
1947-49=100
117
Atlanta
do _ _ .
101
Boston __
do
104
Chicago
- do
103
Cleveland
_ _
...
do
117
Dallas
do
106
Kansas City
do
97
Minneapolis
do
95
New York
-- do
103
Philadelphia
do
'114
Richmond
do
105
St Louis
do.105
San Francisco
do
110
Sales, adjusted, total U. S.J-- --do
118
Atlanta
do
106
Boston
---do
110
Chicago
do
105
Cleveland
-- -do__
124
Dallas
do
112
Kansas City
do
99
Minneapolis
do
102
New York
do
'112
Philadelphia
- do
r
120
Richmond
do
111
St Louis
-- --- do_
116
San Francisco
do
Stocks, total U. S., end of month:t
132
Unadjusted
do
125
Adjusted
-do
Mail-order and store sales:
Total sales, 2 companies-thous. of dol_. 345, 223
90, 564
Montgomery Ward & Co
do
254, 659
Sears Roebuck & Co
do
Rural sales of general merchandise:
293. 6
Total U S unadjusted
1935-39=100
265.8
East
- - _do
313. 3
South
do
274.9
Middle West
.. .. -do...
340.2
Far West
do
313.3
Total U. S., adjusted
do
285. 8
East
do
348.9
South
.
do
287.6
Middle West
..
do ..
371.8
Far West
do
WHOLESALE TRADE
9,270
Sales, estimated (unadj .), totalf..mil. of dol._
3,288
Durable-goods establishments
do
5,982
Nondurable-goods establishments
do
11,493
Inventories, estimated (unadj.), total t
do
6,264
Durable-goods establishments
do
5,229
Nondurable-goods establishments
- -do. . - .
124
220
123
219
114
214
113
218
125
222
132
229
146
238
194
259
159
252
138
243
127
236
131
236
46
14
47
14
46
13
45
14
46
14
48
14
47
14
46
14
45
13
43
14
48
15
45
14
47
43
10
115
131
106
114
115
127
115
107
101
118
127
118
117
117
134
106
114
115
131
115
107
104
119
128
118
124
47
43
10
108
114
103
110
111
118
111
98
99
105
112
110
112
115
128
103
112
118
134
118
106
102
110
119
122
121
47
42
11
89
102
76
89
89
104
91
84
75
83
96
86
101
113
127
106
110
114
124
111
105
104
117
120
107
117
47
42
11
98
114
79
98
104
116
104
97
75
92
97
100
109
112
130
99
109
120
127
112
102
99
116
114
110
113
46
44
10
112
122
112
113
114
119
109
110
102
108
121
109
111
107
119
105
106
109
112
103
100
98
104
114
102
110
46
43
11
115
130
107
112
115
128
114
118
110
114
122
119
111
110
128
107
109
110
122
108
103
104
106
117
108
111
46
44
10
136
146
129
137
142
144
129
121
129
142
144
136
131
113
128
107
113
115
127
112
105
102
108
118
114
112
48
43
9
192
219
194
188
187
209
189
171
178
188
211
185
195
112
127
108
115
112
125
114
107
101
108
121
113
109
47
42
11
83
94
83
82
80
94
83
75
81
80
80
83
85
107
122
105
106
104
119
110
101
106
109
108
108
46
43
11
86
101
81
83
80
98
86
83
83
84
89
88
86
109
123
109
107
104
121
109
108
102
111
117
112
107
46
43
11
89
110
86
86
82
102
90
79
85
91
97
92
88
105
117
102
101
92
115
103
95
99
106
' 118
108
111
46
44
10
v 109
p 129
p 108
v 109
P105
p 119
p 110
p 101
p 101
p 109
p 123
p 112
p 107
p 110
p 127
p 105
p 111
p 104
P120
p 113
p 100
P 102
pl09
p 122
P 114
Pill
132
127
123
128
121
130
126
131
132
128
141
128
142
127
109
123
108
120
114
119
126
121
pl27
P 120
384, 048
95, 059
288, 989
380, 397
92, 804
287, 593
316, 298
78, 977
237, 320
339, 713
89, 164
250, 549
351, 988
91, 513
260, 475
377, 007
99, 860
277, 147
373, 870
98, 349
275, 521
511, 657
138, 930
372, 727
231,649
52, 587
179, 062
228, 687
53, 131
175, 556
278, 044
67, 406
210, 638
333, 209
83, 562
249, 647
308.3
294.1
320.3
292.9
339. 7
343. 7
327. 5
386.4
330.6
379.1
316.8
281.7
334.8
309.9
369.1
355.2
313.0
385.3
338. 3
394.8
262. 6
228.4
269.1
250.9
349.5
353.9
322.6
374.3
335.9
428.3
312.7
278.3
330.8
291.8
391.4
339. 2
317.3
368.4
315.1
400.0
335.3
295. 9
358.6
315.0
403.7
308.7
293.8
323.6
292.8
356.0
333.5
311.5
377.7
320.5
396.8
288.5
270.9
300.2
277.5
353.0
427.3
434.6
468.2
400.8
461.7
324. 7
305. 6
339.8
305. 0
368.2
541.0
487.5
560.9
520.4
648. 6
353. 4
314.5
386.0
341.9
407.2
235.7
212.2
251. 1
225.4
275.4
310.0
2/9.2
326.1
296.6
377.2
252.3
222.7
269.2
234.1
284.3
307. 6
281.9
324.3
296.3
364. 5
260.7
237. 2
287.2
244.6
299.4
r
299. 6
' 266. 5
' 330. 1
' 281. 2
' 374. 2
9,014
3,079
5,935
11,433
6,259
5,174
9,917
3,223
6,694
11,453
6,127
5, 326
10, 186
3, 150
7, 036
11,607
6, 107
5,500
9, 386
3,096
6,290
11, 750
6,094
5, 656
9,759
3,296
6,463
12,013
6,077
5,936
9,907
3, 344
6,563
12,214
6,044
6,170
9,231
2,973
6,258
12, 153
5,902
6, 251
9,152
2,959
6,193
11, 697
5, 678
6,019
8,022
2,425
5,597
11,937
5,863
6,074
8,103
2,628
5,475
11,914
5,947
5, 967
9, 135
2,928
6, 207
Ml,
843
r
6, 053
' 5, 790
r 104
T
r
293.3
254.6
314.3
274.6
344.4
322.3
268. 0
349.2
295.2
378. 5
8,738
2,902
5,836
11, 599
6,025
5,574
EMPLOYMENT AND POPULATION
1953
April
May
June
July
August
1954
Septem- October Novem- DecemJanuary
ber
ber
ber
February
March
April
May
POPULATION
Population, continental United States:
Total, incl. Armed Forces overseas ©
thousands. _ 159, 017 159, 202 159,410 159, 629 159, 889 160, 154 160, 408 160, 654 160, 873 161, 100 161,331
161, 969
161, 542
161, 763
EMPLOYMENT
Noninstitutional population, estimated number 14
114,828 114, 931 115, 032 115, 132 115, 232 1 115, 342 115,449 115, 544 115, 634 115 738 115 819
years old and over, total d"§
thousands
115 914
115 987
116 083
Total labor force, including Armed Forces :§
(New sample) do
66 292
67 139
67 438
67 218
67 786
68, 238 i 67, 127
68, 290
(Old sample) ._ do
66, 954
66, 106
66, 338
68, 258
66, 874
65, 589
66, ~4~97
66, 905
Civilian labor force, total (New sample) do_.
62, 840
63 725
63 825
64 063
64 425
62, 810
64, 734
62, 964
64, 668
64, 648 i 63, 552
63, 404
(Old sample) _ do
63, 353
62, 614
62, 137
63, 491
Employed (New sample)
do
59, 753
60 055
60 100
60 598
61 119
(Old sample)
do
63, 408 i 62, 306
61, 228
61, 658
63, 172
63, 120
62, 242
61, 925
60, 764
59, 778
60, 106
Agricultural employment:
(New sample) do
5 284
5 704
6 822
5 875
6 076
6, 390
7, 926
7,274
i 7, 262
7, 159
6,651
6,070
(Old sample)
do
5,438
5,345
7,628
5 626
Nonagricultural employment:
(New sample) do
54, 469
54, 351
54 225
54 522
54 297
55, 246
56, 134 i 55, 044
55, 083
55, 274
55, 326
55, 158
( Old sample) _ - do
55, 268
55, 492
54, 433
54, 480
1,321
2 313
Unemployed (New sample) §
do
1,240
1,301
1 699
3 725
3 087
3 671
3 465
3 305
i /, 246
1,428
(Old sample)
.
_do-._
1,306
1,850
1,582
1,562
1,548
1,240
/, 16'2
2,359
3,385
Not in labor force (New sample)
do
49 447
48 549
48 679
48 297
48 696
(Old sample}
__ -do. _ 48, 490
48, 495
48, 671
49, 528
48,915
50, 149
46, 742
46, 874
— — _
46, 994 i 48, 215
48, 434
r
Revised.
v Preliminary.
1 See note marked "c?1" for this page.
9 Revised beginnning 1953; not strictly comparable with earlier data,
JData for 1946-53 have been revised t o
reflect changes in seasonal factors and other minor changes. Unpublished revisions (prior to July 1952) will be shown later.
fRevised series! See corresponding note on p. S-3.
©Minor changes have been made for May 1950-October 1951. Revisions for November 1951-December 1952 appear at bottom of p. S-10 in the March 1954 SURVEY.
cTBegirming in January 1953, materials from the 1950 Census have been used in estimating the labor force statistics. Accordingly, the figures prior to January 1953 are not entirely comparable with those for subsequent months. In September 1953, a further revision in the estimating procedure was introduced which raised the level of agricultural employment by roughly
200,000 (and conversely lowered the level of nonagricultural employment by approximately 200,000). See note at bottom of p. S-10, February 1954 SURVEY, for rough adjustment factors for use
in comparing the 1953 estimates with earlier data.
§Beginning with data for January 1954, the Bureau of the Census has released preliminary estimates of the labor force based on a new sample. The new sample, like the old, consists of
25,000 households, but is more widely distributed in 230 areas covering 450 counties (the old sample comprises 68 areas in 123 counties). Since it is believed that the 230-area sample yields
more accurate results, collection of data based on the old sample was discontinued after February 1954. Tentative adjustments for unemployment for the period September-December 1953
are shown for rough comparison with data beginning January 1954.
SURVEY OF CURRENT BUSINESS
June 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-ll
1<>54
1953
April
May
June
July
August
September
October
November
December
January
February
March
April
p 47, 925
P 15 %5
p 9, 226
p 6 739
p 747
p 99
EMPLOYMENT AND POPULATION—Continued
EM PLO Y M ENT— Continued
Employees in nonagricultural establishments: 9
Total, unadjusted (U. S. Dept. of Labor)
thousands ._
Manufacturing
do
Durable-goods industries
do
Nondurable-goods industries
- do
Mining, total
do
Metal
do
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production
thousands ._
Nonmetallic mining and quarrying . do
Contract construction
do _.
Transportation and public utilities-.
do
Interstate railroads
do
Local railways and buslines
do
Telephone
_
do.
Telegraph _ _.
_. do
Gas and electric utilities.
do
Wholesale and retail trade
__ _
do
Wholesale trade
do
Retail trade
do
General-merchandise stores
do
Food and liquor stores
do
Automotive and accessories dealers. _ -do
Finance insurance, and real estate
do
Service and miscellaneous
do
Hotels and lodging places
do
Laundries
_
.
do
Cleaning and dyeing plants
do
Government
do
Total, adjusted (Federal Reserve).
Manufacturing
Mining
Contract construction
Transportation and public utilities
Wholesale and retail trade
Finance, insurance, and real estate
Service and miscellaneous
Government
do_.
do
__ do
do
do
do
do
do
do
Production workers in manufacturing industries: 9
Total (U S Dept. of Labor)
thousands
Durable-goods industries
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
thousands. _
Sawmills and planing mills
..do..
Furniture and fixtures .
do
Stone, clay, and glass products
do_.
Glass and glassware, pressed or blown
thousands. _
Primary metal industries
_ _
do.
Blast furnaces, steel works, and rolling
mills
thousands..
Primary smelting and refining of nonferrous metals
thousands..
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
thousands..
Heating apparatus (except electrical) and
plumbers' supplies
thousands. _
Electrical machinery
do
Transportation equipment . .
do
Automobiles
do
Aircraft and parts
do._
Ship and boat building and repairs. . .do
Railroad equipment
do
Instruments and related products
do
Miscellaneous mfg. industries. . __
do.
Nondurable-goods industries
Food and kindred products
Meat products
Dairy products
Canning and preserving
Bakery products
_
__
do
do
do
do
...do
do
Tobacco manufactures
..do ...
Textile-mill products
_
do
Broad-woven fabric mills
do.
Knitting mills
do
Apparel and other finished textile products
thousands
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
_
_
thousands
Women's outerwear
do
Pulp, paper, and paperboard mills, .do
Printing, publishing, and allied industries
thousands. _
Newspapers
do
Commercial printing
do
49,413
17, 309
10, 283
7,026
845
105
51
294
49, 531
17, 283
10, 269
7,014
842
105
56
285
49. 904
17, 416
10, 301
7, 115
846
107
54
284
49, 716
17, 336
10, 190
7,146
836
106
49
275
49, 962
17, 537
10, 192
7,345
844
105
50
276
50, 200
17 510
10, 145
7 365
839
105
50
276
50, 180
17 301
10, 072
7 229
826
105
49
269
49, 851
16 988
9,897
7 091
'829
105
49
271
50, 197
16 765
9,773
6 992
822
106
49
266
48, 147
16 434
9,591
6 843
805
104
46
261
47, 880
16 322
9,480
6 842
790
103
45
252
p 47, 800
P 16 220
p 9, 376
P 6 844
P 770
290
105
2,509
4,197
1,376
128
688
44
547
290
106
2,607
4,233
1,387
128
703
45
549
295
107
2,711
4, 260
1,400
129
706
45
557
298
107
2,768
4,283
1,410
128
716
44
564
303
109
2 825
4,274
1 407
127
710
43
566
298
109
2 866
4,265
1 394
126
704
43
560
295
108
2 889
4 257
1 383
128
706
44
556
297
106
2 789
4 216
1 354
128
705
43
556
298
104
2 632
4 187
1 329
127
704
43
556
295
99
2 349
4 069
1 266
127
701
42
555
291
98
2 356
4 039
1 244
126
701
41
554
P293
p 99
p 2 403
p 3 990
P 1 215
P 126
p 700
P 41
P 555
10 370
2 746
7 624
1 381
1, 383
797
2 009
5 483
498
337
170
6,691
10 405
2 747
7, 658
1,390
1,384
805
2 014
5 534
508
342
172
6,613
10 473
2 765
7 708
1 386
1,391
815
2 037
5 576
539
347
174
6 585
10 414
2 773
7 641
1 334
1,386
820
2 067
5 607
596
347
168
6 405
10 392
2 770
7 622
1 340
1,376
825
2 067
5 601
'596
343
163
6 422
10 523
2 774
7 749
1 403
1, 386
823
2 041
5 566
525
338
167
6 590
10 669
2 808
7 861
1 476
1,405
827
2 040
5 506
490
338
170
6 692
10 828
o 831
7' 997
1 581
1,415
830
2 034
5 467
477
337
170
6 700
11 361
10 421
7 A97
10 310
2 792
7 518
1 305
1,406
818
2 044
K oon
474
330
163
6 639
P 10 286
8 531
1 960
1,429
839
2 040
49 717
17 466
849
2 614
4 219
10 459
1,999
5 483
6 628
49 781
17 531
844
2 581
4 236
10 524
2,004
5,479
6 582
49 970
17 575
842
2 607
4 228
10 579
2,017
5 494
6 628
49 999
17 569
828
2 oil
4 237
10 584
2,036
5 524
6 610
49 837
17 397
834
2 616
4 225
10 548
2,047
5 518
6 652
49 699
17 235
832
2 679
4 243
10 562
2, 051
5 484
6 613
49 729
17 064
822
16 870
1 A ASA
13 939
8* 341
184
13? 8°0
8 311
191
13 985
8 326
' 194
13 875
8 194
' 199
14 070
8 195
194
14 061
1 ^ 8^9
8
4 ' 99^
2,061
5 506
6 671
2, 055
5 494
6 c\ao
1 A1
1 Q^
713
•it 'i
707
721
740
727
731
721
328
464
3°2
462
317
467
314
458
315
466
31 5
467
465
86
1 151
86
1 146
87
1 153
82
1 143
85
1 138
86
1 129
1 119
86
2
467
oqo
165
' 898
2 708
2 725
4 264
10* 616
194
475
335
167
6 955
1 369
1, 401
825
AOO
695
OAO
86
P 41
P 237
P 215
p 100
P 2 519
P 4 006
r> 9* 778
P 7 508
p 1 306
P 1, 402
P811
P 1 396
P 1,410
P807
p 9 0^7
P 475
p 3^8
P 165
r> A AA7
•n f\
CQQ
OA1
2
? A47
A8A
2, 050
5 4^0
2,054
r 407
2, 054
5 490
p 2, 057
P 5 489
p 2, 063
7, 791
13,002
7,616
177
7, 520
P 7, 424
p 12, 561
P 7, 274
p 133
617
344
293
627
343
P 636
P 346
P636
77
1,049
78
p 78
P 1,012
522
511
P 504
48
49
p 48
654
_ —
83
o, 50 1
p 281
p 990
950
949
953
934
942
939
924
902
875
874
864
P852
p830
111
1,348
952
1 601
816
569
140
110
1, 335
946
1 580
800
569
136
110
1, 330
937
1 573
787
572
137
107
1,295
918
1 559
779
575
135
108
1,268
108
1,262
107
1,254
1
97
1,238
883
1,487
91
1,220
839
1,435
P92
p 1, 206
P 830
P 1, 409
P 1, 186
p 810
p 1, 377
A8fi
7H7
92
1,230
855
1,470
244
413
244
414
245
417
242
405
1 547
' 758
584
132
63
240
422
102
1,240
913
128
59
126
60
407
125
59
237
386
122
55
233
393
p 120
P54
p 223
p 388
p 223
P 380
5,598
1 035
244
5,579
1 060
5, 659
1 108
5,681
1 202
5,875
5,900
5,764
157
180
127
83
1 108
51 1
90
179
183
127
88
1 113
514
90
264
183
134
84
89
343
181
138
105
84
372
182
135
112
79
253
182
130
109
5, 386
1,024
256
73
132
173
115
97
997
466
190
5,386
1,009
250
74
125
175
112
90
995
463
194
P 5, 389
p 1, 008
P246
P 77
P 126
P 173
p 115
p84
P991
P 461
p 193
P 3, 287
P 1,012
144
178
122
83
1 110
510
5,528
1,083
267
74
149
177
120
104
1,028
477
199
P 1, 034
991
1 097
I
noc
C9O
721
596
132
62
242
715
592
128
62
949
216
211
5,624
1, 149
273
76
184
180
125
101
1,046
485
204
125
1, 103
124
1,085
121
1,084
121
1,062
119
1,088
122
P 1, 102
P 121
285
447
450
448
446
275
331
442
268
333
438
219
271
344
437
218
P 276
p 349
P436
P 91 a
510
144
164
550
229
521
525
522
168
555
226
170
552
222
169
548
220
525
148
173
540
217
514
142
171
540
214
514
143
169
536
207
P514
P 144
P 168
P540
P205
507
120
1 073
121
123
114
125
292
313
437
291
294
437
290
305
443
279
310
439
508
144
166
562
221
509
146
166
553
223
512
146
167
550
227
507
144
165
546
227
o«>n
-._ _ „
v
P84
982
P434
T513
P529
Industrial organic chemicals.
..do
p Preliminary.
9 Data for employment and hours and earnings have been revised inL this issue of the SURVEY to adjust to the first quarter 1953 benchmark. Revised data beginning 1951 will be available
within the next several weeks upon request to the Division of Manpower amd Employment Statistics, Bureau of Labor Statistics, U. S. Department of Labor.
SURVEY OF CURRENT BUSINESS
S-12
June 1954
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April
May
June
July
August
September
October
November
December
January
February
March
April
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT—Continued
Production workers in mfg. industries 9— Con.
Total (U. S. Dept. of Labor)— Continued
Nondurable-goods industries— Continued
Products of petroleum and coal
thousands. .
Petroleum refining
--do
Rubber products
..do
Leather and leather products
do
Manufacturing production-worker employment
index, unadjusted (U. S. Dept. of Labor)^9 __
Manufacturing production-worker employment
index, adjusted (Federal Reserve) 9 .1947-49=100..
187
143
226
96
353
231
187
142
226
96
342
225
189
143
227
96
350
229
190
144
219
94
343
223
191
145
221
93
349
227
188
143
221
93
341
220
185
141
216
90
334
213
184
141
210
87
334
215
181
139
209
87
332
219
178
138
206
86
332
222
178
138
203
85
339
225
P138
P200
p85
P338
P227
112.7
112.3
113.1
112.2
113.8
113.7
112.0
109. 4
107. 7
105.1
104.3
p 103. 6
P 101.6
113.9
114.2
114.3
114.1
112.7
111.5
110.2
108.4
107. 0
105.6
104.6
p 103. 9
p 102.7
2, 179. 4
210.5
2.177.0
209.6
2, 157. 9
207.7
2, 149. 0
207.3
>• 2, 147. 3
207.2
P 2. 141.6
^206.9
Miscellaneous employment data:
Federal civilian employees (executive branch) :cf
United States continental
thousands. . 2, 299. 5
225.9
Washington' D. C., metropolitan area. -do
Railway employees (class I steam railways) :
1,239
Total
thousands. .
Indexes:
118.1
Unadjusted
- -1935-39 =100. _
120.0
Adjusted
do
^178
P198
P324
2, 277. 7
222.8
2, 277. 2
222.1
2, 255. 1
218.6
2,231.9
215.4
1,251
1,263
1,274
1,271
1,258
1.248
1,222
1,190
1,139
1,114
119.3
119.8
120.4
118.8
121.5
118.9
121.2
118.7
120.0
117.1
119.0
115.2
116. 4
115.4
113.2
115.0
108.6
112.9
' 106. 2
r 108. 9
P 103. 7
v 106. 4
P 103. 0
p 104. 6
152.0
151.9
153.9
151.1
154.0
153.4
152.6
148.0
147.2
140.8
140.5
v 138. 4
P 134. 7
40.8
41.7
40.7
40.7
41.5
41.4
40.7
41.4
41.3
40.3
40.8
41.2
40.5
41.1
40.9
39.9
40.6
41.0
40.3
41.0
40.9
40.0
40.6
39.9
40.2
40.8
40.9
39.4
40.1
40.0
39.6
40.2
40.0
P39.5
p40. 0
p40. 2
P39.0
P39.7
p40. 5
40.9
40.8
41.4
40.7
40.8
40.1
40.8
40.0
40.2
41.3
41.1
39.7
41.2
41.0
41.2
39.8
41.3
40.9
41.1
39.8
41.0
40.5
40.4
39.3
40.2
41.1
41.2
39.7
40.3
40.7
40.6
39.4
39.8
40.7
40.7
39.4
39.8
39.4
39.2
39.6
39.7
39.0
39.3
40.1
40.2
40.1
40.4
39.6
38.6
P40.0
P40. 5
P40. 2
p40. 5
?39. 6
P38.1
P39.4
P40. 6
38.9
37.8
p37. 1
2, 204. 6
213.0
1 2, 454. 6
i 212. 9
' 1, 089
1,079
PAYROLLS
Manufacturing production-worker payroll index,
unadjusted (U. S. Dept. of Labor) 91947-49=100..
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor): 9
All manufacturing industries
._ ..hours..
Durable-goods industries
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
hours .
Furniture and
fixtures
do
Stone, clay and glass products
do
Glass and glassware, pressed or blown-do
Primary metal industries
-do
Blast furnaces, steel works, and rolling
mills
hours
Primary smelting and refining of nonferrous
metals
hours
Fabricated metal prod, (except ordnance, machinery, transportation equipment) -hours _.
Heating apparatus (except electrical) and
plumbers' supplies
.hours..
Machinery (except electrical)
do
Electrical machinery
_
do_
Transportation equipment.- ..
do
Automobiles
do
Aircraft and parts
do
Ship and boat building and repairs- -do
Railroad equipment
do
Instruments and related products.
do_.
Miscellaneous mfg industries
do
Nondurable-goods industries. _ .
Food and kindred products
Meat products
Dairy products
Canning and preserving
Bakery products
Beverages
Tobacco manufactures _
Textile-mill products ..
Broad-woven fabric mills
Knitting mills
_
do..
do
do
do
do
do
do
do
do.do
do
41.0
41.0
40.0
41.3
39.9
40.8
39.0
40.9
41.7
40.6
P39.9
42.3
42.1
42.0
41.3
41.4
40.7
41.3
41.0
41.5
40.7
40.6
MO. 4
40.7
42.9
41.3
41.6
41.9
42.0
39.7
40.1
41.2
41.3
40.5
42.6
40.8
41.3
41.5
41.7
39.6
39.5
41.6
40.9
40.1
42.3
40.8
41.1
41.5
41.2
39.4
40.0
41.5
40.9
40.1
41.7
40.1
40.8
40.7
41.5
39.5
38.8
40.6
39.7
40.0
4.1.9
40.7
41.2
41.2
41.8
39.4
38.5
41.1
40.6
39.0
41.7
40.5
40.3
39.9
41.4
38.1
39.0
41.2
40. 1
40.3
42.0
40.4
40.9
40.8
41.6
38.5
39.5
41.4
41.0
39.3
41.6
40.3
40.4
40. 1
41.6
37.8
38.7
41.3
40.7
39.8
42.0
40.2
40.7
40.1
41.8
39.6
39.6
41.3
40.7
38.6
41.2
39.3
40.5
41.0
40.6
38.0
39.2
39.9
39.4
39.3
41.3
39.9
40.2
39.5
41.2
39.0
39.5
40.4
40.1
P39.2
Ml. 2
P39.7
P40.0
P39.3
P40. 9
P39. 4
P39. 5
MO. 1
P39.9
39.5
40.3
39.9
43.2
36.6
41.2
40.6
37.2
39.3
39.7
37.3
39.5
41.0
40.6
44.0
37.6
41.3
41.6
36.9
39.4
40. 1
37.2
39.7
41.6
41.5
44.7
38.1
41.9
42.6
37.0
39.5
39.9
37.4
39.6
41.7
40.7
44.7
40.3
41.6
43. 1
37.4
39.1
39.5
37.2
39.6
41.3
40.6
44.2
40. 1
41.4
41.9
38.9
39.0
39.2
37.7
39.0
41.9
41.4
44.2
41.3
41.8
41.7
39.1
37.7
37.9
36.0
39.3
41.5
42.1
43.2
40.1
41.3
40.7
39.4
38.2
38.3
37.6
39.1
41.4
43.2
43.0
37.0
41.0
39.9
38.3
38.2
38.5
37.2
39.3
41.3
41.6
43.5
37.9
41.0
40. 1
39.3
38.4
38.6
37.1
38.5
40.9
41.5
43.1
37.7
40.8
39.3
36.2
37.4
37.5
36.1
38.8
40.5
39.7
43.3
37.5
41.0
40.0
35.9
38.0
37.9
37.0
P38.8
P40.3
p 39. 6
P43.0
p36. 7
P40.8
P 40.4
P 35. 9
p38. 0
p37. 9
p 36. 9
p39. 7
P38.3
,3,9
P40.6
^39. 1
P40.3
^39.6
P38.8
P38.1
P40.2
P37.3
P37.0
Apparel and other finished textile products
34.9
35.6
37.0
36.5
36.4
36.6
36.1
35.9
36.1
36.0
34.8
P36.2
P34.4
hours ._
35.4
36.2
35.7
37.6
36.9
37.4
37.7
36.8
36.6
34.9
36.0
P35.2
Men's and boys' suits and coats.
_do
Men's and boys' furnishings and work
37.8
36.1
35.8
37.3
37.4
36.9
37.3
36.7
35.7
34.4
35.9
P36.0
clothing
hours. _
32.5
34.3
36.0
35.2
34. 6
34.1
34.7
35.3
35.5
34.5
35.7
P 35. 9
Women's outerwear
do
42.7
42.9
43.0
43.2
43.0
43.0
43.3
42.8
41.9
41.9
43.1
p42. 0
P41.6
Paper and allied products
do
43.4
43.3
P43. 3
Pulp, paper, and paperboard mills do
Printing, publishing, and allied industries
38.9
38.8
38.9
39.0
38.8
38.7
38.9
39.0
39.3
38.4
38.2
p 38. 6
P38.4
hours..
36.4
36.5
36.2
36.3
36.3
37.4
Newspapers
_
do
36.7
36. 0
36. 0
35.6
35.6
p 35. 9
40.2
40.2
40.1
40. 1
40.0
40.0
40. 0
40.1
40. 5
Commercial printing
do
39.9
39.3
P39.7
41.4
41.3
41.5
41.1
41.4
41.2
41.0
41.5
41.1
41.3
41.1
Chemicals and allied products
do
Ml. 1
Ml. 1
40.4
40.8
40.8
41.0
40.9
41.0
40.6
40.1
40.7
40.5
40.4
Industrial organic chemicals
do
p40. 2
41.2
40.8
40.5
40.8
41.1
40.8
41.4
Products of petroleum and coal
do
41. 1
40.7
40.5
40.3
P 40. 2
p40. 4
40. 7
40.7
40.3
40.6
40.5
41.2
40.6
40.3
Petroleum refining
do
40.7
40.5
40.2
p 40. 2
39.4
39.0
39. 1
40.3
40.7
40.5
39.8
39.2
Rubber products
do
41.1
38.7
38.9
p 38. 5
p37. 6
38.5
39.1
37.8
40.7
40.4
40.2
37.8
40.0
37.3
37.5
37.4
Tires and inner tubes
do
p 36.8
35.5
37.8
37.4
38.2
38.1
37.8
36. 0
36. 1
37.7
37.6
Leather and leather products. ..
do-_
38.0
P37.8 i
P 36. 0
34.4
34.7
37.2
36.7
34.6
Footwear (exceot rubber)
do__ .
37.8
37.9
37.3
37.2
37.4
37.9
P 37. 5
T
1
Revised.
p Preliminary.
Includes temporary Post Office employees hired during Christmas season; there were about 289,000 such employers in all areas.
9 See corresponding note on p. S-ll
S-ll.
c^Data beginning January 1953 have been revised to exclude the employees of the General Accounting Office and Government Printing Office. At the end of January 1954, employment in
these
3e age
agencies was as follows: Continental United States—GAO, 5,800; GPO, 7,100; Wash., D. C.—GAO, 4,300; GPO, 6,900.
SURVEY OF CURRENT BUSINESS
June 1954
Unless other-wise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-13
1954
1953
April
May
June
July
August
September
October
November
December
January
February
March
April
EMPLOYMENT AND POPULATION—Continued
LABOR CONDITIONS— Continued
Average weekly hours per worker, etc. — Continued
Nonmanufacturing industries: 9
Mining:
Metal
.hours..
Anthracite
do.. .
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
hours ..
Nonmetallic mining and quarrying
do
Contract construction _
__
do_ __
Nonbuilding construction
do
Building construction
.
-do
Transportation and public utilities:
Local railways and bus lines J
do
Telephone
do
Telegraph
do
Gas and electric utilities
do
Wholesale and retail trade:
Wholesale trade
do
Retail trade (except eating and drinking
places)
hours
General-merchandise stores
do_. _
Food and liquor stores
do
Automotive and accessories dealers do
Service and miscellaneous:
Hotels year-round
do
Laundries
do
Cleaning and dyeing plants
do
43.2
25.3
32.1
43.8
31.0
34.4
43.6
36.8
36.5
42.7
34.1
34.4
43.9
25.2
37.3
44.0
28 5
34.6
43.2
29 6
36.2
43.2
25.6
32.6
44.0
26.2
33.3
43.6
28.6
33.2
41.7
29 7
32.0
»41.1
p25 0
P30.2
40.8
44.8
37.3
39.0
36.9
41.2
45.2
37.9
40.0
37.3
40.1
45.7
38.6
41.8
37.8
41.4
45.4
38.1
41.7
37.1
41.7
45.9
38.6
42.5
37.6
40.7
45 0
36.9
39 9
36.1
40.3
45 9
38.6
42 2
37.7
41.4
44.5
37.2
39.4
36.7
40.2
44 0
36.8
39. 1
36.3
40.7
41.0
34.3
36.0
33.9
40.3
42 9
36.7
39 8
36.0
MO. 1
P42 9
P37. 1
p 39 7
P 36.5
45.7
38.3
41.6
41.1
46.2
38.7
42.4
41.2
46.1
39.0
42.0
41.5
45.3
39.0
42.0
41.7
45.0
38.7
42.0
41.5
44
39
42
41
9
4
1
8
44 3
38 6
41 6
41.5
44 1
38.8
41 2
41.7
44 5
38.5
41 1
41.6
44 4
38.2
40 9
41.3
43 4
38 0
41 4
41. 1
P 43
p 38
p 41
p 41
i
2
2
1
40.3
40.3
40 4
40.5
40 4
40 4
40 6
40 5
40 7
40 2
40 2
P 40 2
39.1
34.8
38.8
44.9
39.0
34.7
38.7
45.0
39.4
35.4
39.3
44.9
39.9
36. 1
39.9
44.9
39.8
35.8
40.0
44.6
39 1
34.8
39.2
44 3
38 9
34 6
38.3
44 6
38 8
34. 5
38.3
44.5
39 2
36.3
38.6
44.4
39 0
34.9
38.3
44 2
39 1
35 0
38.2
44 4
P 39 1
p 35 2
p38. 1
p44 5
42.5
40.8
40.5
42.1
41.5
41.9
42.0
40.9
41.3
42.2
40.1
39.2
42.3
39.9
38.9
42 0
40.2
40 0
42.3
40.1
40.1
42.2
40.0
39.3
41.9
40.6
39.9
41.8
39.7
38.2
42.0
39.8
38.6
P42 2
•p 39.8
J>39 4
596
313
567
258
534
293
484
238
420
119
379
175
281
100
145
76
250
80
200
50
225
100
869
406
3, 770
42
875
448
4,530
48
841
491
3,880
39
763
393
2,880
32
721
211
1 700
19
658
240
1 650
17
502
175
1 570
18
354
173
1 880
20
400
150
1 000
12
350
100
750
09
375
150
1 300
14
577
612
574
572
605
544
433
378
353
333
391
428
780
889
'803
833
••980
861
817
779
''918
840
1,241
1,115
1 616
1,509
1 749
' 2, 034
1 340
•• 2, 170
1 392
2,175
1 442
2,182
772
72, 144
734
72,033
675
69, 175
651
65, 300
656
66, 104
809
78, 979
1 124
120, 780
1 592
158, 418
1 864
179, 284
1 953
215, 650
1 894
200, 837
13
25
31
3, 141
17
25
29
3, 086
18
27
30
3,322
5.1
4.2
.4
.9
2.6
.3
4.1
4 3
.4
1.1
2.5
.3
Industrial disputes (strikes and lock -outs):
Beginning in month:
560
Work stoppages
number. .
312
Workers involved
- thousands _.
In effect during month:
798
Work stoppages
number..
413
Workers involved
thousands. .
Man-days idle during month
_ _do
2,690
29
Percent of available working time
- U. S. Employment Service placement" activities:
Nonagr icultural placements
thousands . .
553
Unemployment compensation, State laws (Bureau
of Employment Security):
Initial claims t
-. .thousands. . M 835
Insured unemployment, weekly average*.. -do
961
Benefit payments:
Beneficiaries weekly average ._ ._
do
840
Amount of payments
thous. of dol_.
82, 990
Veterans' unemployment allowances: a"
r
!4
Initial claims
thousands. .
Insured unemployment, weekly average — do
29
rl
37
Beneficiaries weekly average
do
Amount of payments
thous. of dol._ «• i 3, 887
Labor turnover in manufacturing establishments:
Accession rate... .monthly rate per 100 employees. .
4.3
Separation rate, total
do
4.3
.4
Discharge
-.
do
Lay-off
- do.
.9
Quit
do
2.7
Military and miscellaneous
do
.3
T
r
r
r
r
4.1
4.4
.4
1.0
2.7
.3
r
r
795
816
679
64, 579
r
r
T
r
r
450
200
1 200
13
16
27
32
3, 234
r 15
r 17
24
29
'3,041
r 25
2,600
23
24
31
32
3,096
33
45
47
5,043
39
64
69
6,599
35
78
89
8,085
38
87
103
10, 840
30
82
101
10, 157
4.3
4 8
.4
1 3
2.9
3
4.0
5 2
4
15
31
3
3.3
4 5
4
18
2 1
3
2.7
4 2
3
2 3
15
3
2.1
4 0
2
2 5
11
2
2.8
4 3
2
2 8
11
3
2.5
35
2
2 2
10
2
2.8
r37
P2.4
r
r
r
300
130
r
2
2 3
10
2
P 3 9
P
P2
P1
v
2
4
1
2
WAGES
Average weekly gross earnings (U. S. Department
of Labor) : 9
•p 70 7]
72 14
All manufacturing industries
dollars..
71.40
71. 63
71 33
72 04
71 969
71 42
71 60
72 36
70 92
71 28
P 70 20
Durable-goods industries
do
76 70
77 19
77 42
77 56
77 14
77 7
77 90
76 73
76 59
77 52
76 38
P 76 00
P 75 43
Ordnance and accessories
do
77.87
78. 25
76.52
78.12
78.88
79.13
78.94
76.21
78.94
77.60
78.40
P 78. 79
p 79. 79
Lumber and wood products (except furniture)
dollars ..
67.16
65.85
66.50
68.31
66. 91
66.97
67.32
65. 20
64.32
62.65
63.76
P 64. 00
P 64. 31
Sawmills and planing mills
do
62 72
63 92
P 64 80
go ig
Furniture and
fixtures
do
63 19
62 73
61 05
p fi~\ A.R
62 99
62 73
62 78
64 12
63 49
63 90
61 78
P 62 71
Stone, clay, and glass products
_ao_
69.87
70 45
70 58
70 11
71 10
72 10
71 10
71 05
71 ?3
69 48
70 70
P 70 47
P 71 05
Glass and glassware, pressed or blown
dollars-.
67.08
68.40
67.89
68.46
68.46
69. 08
69.17
68.64
70.13
69.34
70.09
P 70. 49
Primary metal industries
do
v 7C 1 1
83 22
85 07
83 43
84 25
85 98
85 63
83 82
82 78
82 78
81 74
79 52
Blast furnaces, steel works, and rolling mills
dollars ..
84 80
81 27
P 79 39
Primary smelting and refining of nonferrous
metals
1
dollars
83 40
79 98
P 78 20
Fabricated metal prod, (except ordnance, machinery, and trans, equip.)
dollars..
77.41
76.41
77.28
77.04
76.59
75.70
77.23
76.92
76.67
78.02
76.33
P 75. 95
P75.01
Heating apparatus (except electrical) and
plumbers' supplies
dollars..
73.71
72.98
72. 98
74.48
72.80
71. 76
72.31
74.56
73. 63
71.80
73. 10
P 72. 91
Machinery (except electrical)
do
P g2 40
p gi 20
81 73
83 66
83 07
82 57
82 12
82 49
83 58
82 78
82 40
84 42
82 60
Electrical machinery
do
71.86
70.58
71.81
70.99
72.09
71.63
71.91
72.14
70.74
72.36
72.22
P 71. 46
p 70. 77
p
g4
QQ
Transportation equipment
do
p 84. O'-l
85 70
84 86
84 67
85 08
84 23
85 70
85 89
84 84
85 88
85 86
84 82
Automobiles
_
do
87. 15
88.83
87 91
89 23
86 58
88 58
87 02
88 13
87 42
89 79
85 72
p 84 10
Aircraft and parts
do
82 57
82 59
83 16
P §4 25
81 99
83 21
83 60
84 03
84 03
85 27
83 23
85 28
Ship and boat building and repairs_..do__
P gi 95
80. 59
80.98
79.59
81. 16
80.39
78 87
79.70
78.62
82 37
78 66
81 12
77 99
Railroad equipment
._
do
p g2 5K
79 79
81 40
80 73
81 20
78 16
81 77
80 11
82 32
82 76
82 95
Instruments and related products. .. do.
72 51
71 86
73 87
73 63
p j<2 07
73 16
74 16
P 72 18
74 93
74 75
72 22
75 17
73 12
Miscellaneous mf g . industries
do
64.21
63.80
64.43
61.93
63.' 36
63. 74
65. 19
65.12
65^53
63.' 43
64. 16 1 P 64. 24
P 62. 47
1
Revisions for January-March 1953 (thous): State laws—initial claims, 1,040; 737; 787; veterans' program—weekly avg. beneficiaries, 31; 38; 42; amount of payments (thous. dol.), 3,270; 3,666;
r
Revised.
P Preliminary.
9 See corresponding note on p. S-ll.
t Revised to include only privately operated lines; data shown in the March 1954 SURVEY and earlier issues cover both privately operated and government-operated lines.
t He vised series. Beginning with the February 1954 SURVEY, data have been revised to exclude transitional claims and, therefore, more closely represent instances of new unemployment.
*Xew series. Compiled by the U. S. Department of Labor, Bureau of Employment Security. Data for insured unemployment for continental U. S. (excluding Alaska) have been substituted for the series on number of continued claims filed. The insured unemployment series is derived by adjusting the number of weeks of unemployment for the lag between the week of
unemployment and the time the claim is filed, so that the adjusted series refers to the week in which unemployment actually occurred. The monthly figures are averages of weekly data adjusted for split weeks in the month on the basis of a 5-day week. Weekly averages for 1952 appear in the February 1954 SURVEY.
c? Beginning with the February 1954 SURVEY data for veterans'unemployment allowances cover only unemployment compensation benefits under the Veterans Readjustment Assistance
Act of 1952. The figures for initial claims exclude transitional claims; the insured unemployment figures exclude claims from veterans which were filed to supplement benefits under State or
railroad unemployment-insurance programs to eliminate duplicate counts in the State data shown above; the number of beneficiaries and the amount of payments include all veterans whether
Digitized
forthe
FRASER
or not
payments supplement benefits under either State or railroad insurance programs.
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
June 1054
1953
April
May
June
July
August
1954
September
October
November
December
January
February
March
April
EMPLOYMENT AND POPULATION— Continued
WAGES—Continued
Average weekly gross earnings, etc. 9 —Continued
All manufacturing industries — Continued
Nondurable-goods industries
dollars. _
Food and kindred products
do
Meat products
do_-_
Dairy products
do
Canning and preserving
do
Beverages
do.
Tobacco manufactures
do
Textile-mill products
do
Broad-woven fabric mills
___do
Knitting mills
do
Apparel and other finished textile products
dollars ..
Men's and boys' suits and coats
do _
Men's and boys' furnishings and work
clothing
dollars
Women's outerwear
do
Paper and allied products
do___
Pulp, paper, and paperboard mills _ . -do
Printing, publishing, and allied Industries
dollars..
Newspapers
do
Commercial printing
do
Chemicals and allied products
do .
Industrial organic chemicals
do
Products of petroleum and coal
do _
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products
do
Footwear (except rubber)
do
Nonmanufacturing Industries:
Mining:
Metal
- - do._.
Anthracite
do .
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars ._
Nonmetallic mining and Quarrying
do
Contract construction
do
Nonbuilding construction
do
Building construction
do
Transportation and public utilities:
62.81
64.48
70.62
66.10
51.61
63.45
73.49
47.62
53.84
53.20
48.49
63.20
66.01
71. 86
67.32
52. 26
64.02
76. 54
47.23
53.98
53.73
48.36
63. 52
66. 56
74.29
68.39
51.44
65.36
79.66
46.99
53.72
53.47
48.25
63.76
66.72
72.85
69.73
54. 00
65.73
80.60
47.87
53.18
52.93
47.99
63.76
65. 25
72.67
68.51
54.14
65. 41
79.19
47.46
53.04
52.14
48.63
63.57
67.04
76. 18
69.84
55.34
66.88
80.90
46.92
51.65
50.79
46.80
63.67
67.23
77.89
68.26
54. 54
65. 67
77.33
48.07
52.33
50.94
49.26
63.73
68.31
82. 51
67.94
49.95
65.60
75. 41
47.49
52.33
51.21
48.73
64.45
68.15
76.54
68.73
53.44
66.42
75.39
49.13
52.61
51.34
48.60
63.53
68.71
76.78
69.39
55.04
66.10
75.06
45.97
50.86
49.13
47.65
64.02
67.64
73.05
69.71
54. 38
66.42
76.80
46.31
52. 06
50.03
48.84
p 64. 02
v 67. 70
p 72. 86
p 68. 80
P 53. 95
v 66. 10
p 78. 38
p 47. 39
P 52. 06
P 50. 03
p 49. 08
p 62. 87
p 67. 54
47.73
56.78
47.09
56.93
48.05
58.67
47.88
57.41
49.78
60.59
47.12
57.35
48.74
58.64
48.06
57.48
48.82
58.19
47.68
55.84
49.46
57.96
p 49. 59
p 56. 67
v 45. 41
41.58
51.84
71.81
41.03
50.34
71.81
41.51
50.66
72.41
40.96
52.59
73.44
41.78
54.72
73.61
40.79
49.40
73.87
41.84
51. 83
73.53
40.81
50. 76
73.36
40.70
53.61
73.62
39.56
52.44
72. 07
78.55
41.29
54.62
72.07
78. 37
Ml. 04
p54. 57
P 72. 66 ~ ~ p ~ 7 L 5 5 ~
P 78. 81
85.19
91.36
84.02
74.70
79.15
88.29
91.88
79. 32
91.58
51.79
49.10
85.41
92.85
83.81
75.35
79.54
89.60
92.57
78.59
91.30
51.61
48.81
85.36
92.35
84.00
75.58
80.16
88.54
91.94
78.55
89.20
52.33
49.90
84.75
90.36
83.60
76.63
81.59
92.32
96.00
78 98
90.45
51.82
49.65
85.58
90.36
83.81
76.26
80.79
92.06
95.00
77.21
87.58
51.79
49.24
87.14
93.03
84.80
77.83
83.64
94. 35
97.68
74.88
83.54
48.99
45. 41
86.58
92.93
85.63
76.04
80.60
91.80
94. 71
75. 07
83.16
49.68
45.67
86.14
92.57
85. 41
76.82
81.20
92.21
96.46
75. 65
85.09
49.82
45.80
88.43
96.87
86.67
77.61
81.81
91.98
96. 05
75.66
82.43
52.03
49.10
86.02
90.07
85.79
76.86
81.41
91.53
95. 58
75.08
82.88
51.89
49. 37
85.95
90.42
84. 50
76.86
81.20
90.68
94.47
75.47
83.03
52. 44
50.41
p 86. 85
P91.55
p 85. 36
p 76. 86
P81.20
p 90. 45
P 94. 47
p74. 31
P81.33
P 52. 16
P 49. 88
84.67
61. 99
79.61
86.29
77.19
84.97
86.76
91.63
91.25
88.82
83.89
84.97
92.19
61.49
92.88
94.16
70.40
86.15
90.29
73.41
89.78
90.72
63.49
81.17
92.40
64.71
82.25
92.00
70.93
82.34
85.49
74.84
79.04
p 83. 84
p 62. 00
p 74. 59
88.13
74.37
89.15
85.02
90.04
88.99
75.94
90.58
87.60
91.01
87.02
76.78
92.25
91. 54
92. 23
92.74
77.63
91.82
92.57
91.64
93.83
79.41
94.18
96. 05
93. 62
92.39
79.20
90.77
90.97
90.97
90.27
80.33
96.11
97.48
95. 76
94.39
76.99
93.00
91.01
93.59
90.45
76.12
92.37
89.93
93.29
92.80
70.93
87.12
83.88
87.46
91.08
73.79
92.85
91.14
93.24
p 90. 63
p 73. 36
P 93. 49
P 90. 52
p 94. 17
78.08
64.63
75.90
79. 52
78.37
65.13
75.60
80.22
77.92
64. 35
74.76
81.32
77.40
64.24
74.76
81.34
78.13
68.16
77.46
82.76
77.53
66.01
74.05
82.17
77.18
67.90
73.34
82.98
77.43
65.84
73.16
82. 37
78.59
65.70
72.80
81.77
77.25
65.74
73.69
80.97
p 76.
p 65.
p 73.
P 80.
70. 93
71.10
72.09
71.91
72.72
72.67
72.50
73.26
72.76
72.36
P 72. 36
54.21
38 52
58^ 05
74.70
55.16
39. 65
58. 95
74.98
56. 26
40.07
60. 25
74.98
56.12
39.74
60. 40
74.48
55.52
38.98
60.37
73. 10
55.24
38.75
59. 37
74.48
55.10
38.64
59.75
74.32
54.49
39.93
59. 83
72.37
55. 77
40.14
59.75
71.60
55. 91
39. 90
59. 59
72.82
p 55. 91
P 40. 13
p 59. 44
p 72. 98
76.78
63.20
Telephone
- - do_.
73.63
Telegraph
do
78.50
Gas and electric utilities
do._ Wholesale and retail trade:
70.53
Wholesale trade
do
Retail trade (except eating and drinking
53. 96
places)
dollars-.
37.93
Oeneral -merchandise stores
do
57. 81
Food and liquor stores
do
74.09
Automotive and accessories dealers. . -do
Finance, insurance, and real estate:
54.47
Banks and trust companies
do
Service and miscellaneous:
37.83
Hotels year-round
do
39.58
"Laundries
do
45.36
Cleaning and dyeing plants
do
Average hourly gross earnings (TJ. 8. Department,
of Labor): 9
1.75
All manufacturing industries
__ dollars
1.86
Durable-goods industries
do
1.88
Ordnance and accessories
do
Lumber and wood products (except furni1.61
ture)
.
dollars-Sawmills and planing mills
do
1.53
Furniture and
fixtures
do
1.70
Stone clay and glass products
do
Glass and glassware pressed or blown
dollars-.
1.71
2.02
Primary metal industries
do
Blastfurnaces, steel works, and rolling mills
dollarsPrimary smelting and refining of nori ferrous
metals
dollars
Fabricated metal prod, (except ordnance,
machinery, transportation equipment)
dollars -.
1.83
Heating apparatus (except electrical) and
plumbers' supplies
dollars. .
1.83
Machinery (except electrical)
do
1.95
Electrical machinery
do
1.74
Transportation equipment
do. .
2.06
Automobiles
do
2.12
Aircraft and parts
do
1.98
Ship and boat building and repairs do
2. 03
Railroad equipment
do
2.03
1.76
Instruments and related products. _. . do. _
1.56
Miscellaneous mfg. industries..
do
1.59
Nondurable-goods industries _
do
1.60
Food and kindred products
do
Meat products.
do
1.77
Dairy products
do
1.53
Canning and preserving. .
do
1.41
Bakery products
do
1.54
1.81
Beverages
.
do
r
Revised.
f Preliminary
9 See corresponding note on p. S-ll.
JRevised series. See note marked "}" at bottom of p. S-13.
p 49. 98
p 50. 32
p 86. 40
p 77. 27
P91.30
~V73.~32~
p 50. 04
72
70
75
97
j
54. 65
54. 28
54.90
55.00
55.03
55. 36
55.33
55.68
56.51
56.79 j
P 56. 39
37. 89
40.67
48.19
38.22
40. 08
47.08
38. 40
39.30
44.69
38.49
39. 10
44.35
39.06
39.80
46.40
39.76
39.70
46.92
39.67
40.00
45.98
39.81
40.60
46.68
39.71
39.70
45.08
39.90
39.80
45.55
p 39. 67
p 39. 80
p 46. 49
1.76
1.86
1.89
L87
1.91
1.77
1.88
1.89
1.77
1.88
1.91
1.79
1.90
1.93
1.79
1.90
1.93
1.79
1.89
1.91
1.80
1.90
1.93
.80
.91
.94
1.80
1.90 i
1.96 !
Pl.79
P 1. 90
M.96
1.63
1.65
1.65
1.64
1.67
1.65
1.63
1.60
1.53
1.71
1.53
1.71
1.53
1.73
1.54
1.73
1.55
1.76
1.56
1 75
1.56
1.75
1.57
1.75
.59
.60
.56
. 75
1.59 1
1.59
1.55
1.75 |
pl.60
P 1. 60
P 1. 56
P 1. 74
1.72
2.02
1.71
2.04
1.72
2.08
1.72
2.08
1.76
2.13
1.74
2.08
1.78
2.08
1.76
2.08
1.76
2.08
1.77 !
2.06
P 1. 78
P 2.05 j
2.18
2.15
P 2. 14
2.00
1.97 i
j
P 1. 96
1.83
1.84
1.85
1.85
1.86
1.82
1.95
1.74
2.05
2.10
1.98
2.03
2.02
1.77
1.57
1. 60
1.61
1.77
I . .53
1 . 89 ;
1. 55
1.84
1.82
1.95
1.76
2.07
2.15
1.99
2.02
2.03
1.78
1.56
.60
.60
.79
.53
.35
1.56
1.87
1.82
1.96
1.76
2.08
2.16
1.99
2.05
2.01
1.77
1.56
1.61
1.60
1.79
1.56
1.34
1.58
1.87
1.82
1.96
1.76
2.08
2. 15
2.00
2.06
2.03
1.78
1.57
1.61
1.58 j
1.79 \
1.55 1
1.35
1.58
1.89
1.84
1.98
1.78
2.09
2.17
2.01
2.07
2.07
1.80
1.58
1.63
1.60
1.84
1.58
1.34
1. 60
1.94
i
:
p 1.80
p 1.90
Pl.97
p 1.62
p 1. 56
p 1. 75
P 2. 05
1.87
1.87
1.88
1.89
1.88 |
P 1.88
p 1. 88
1.85
1.99
1.78
2.10
2.16
2.02
2.07
2.07
.81
.59
1.62
.62
.85
.58
.36
1.59
1.90
1.84
1.99
1.79
2.10
2.17
2.02
2.08
2.07
1.81
1.60
1.63
1.65
1.91
1.58
1.35
1. 60
1.89 '
1.85
2.01
1. 80
2.11
2.18
2.04
2.08
2.09
1.82
1.61
1.64
1.65
1.84
1.58
1.41
1.62
1.88
1.86
2.00
1.80
2.12
2.19
2.05
2.07
2.10
1.81
1.61
1.65
1.68
1.85
1. 61
1.46
1.62
1.91
1.86
2.00
1.81
2.11
2.17
2.07
2.08
2. 10
1.81
1.60
1.65
1.67
1.84
1.61
1.45
1.62
1.92
P i . 86
p 2. 00
P 1.8)
P2.00
j
p 2. 10
i
\
1
1
i
*2. 14
2. 06 !
P 2. 08
P 2. 09
P 1. 80
v 1.61
P 1. 65
P 1. 68 !
p 1.84
p 1.60
P 1.47
p 1.62
P L 94
pl.81
p 2. 09
~~Vl.82~
1-1.61
pl.65
* 1. 68
SUKVEY OF CURKENT BUSINESS
June 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-15
1954
1953
April
May
June
July
August
September
October
November
December
January
February
March
April
EMPLOYMENT AND POPULATION—Continued
WAGES— Continued
Average hourly gross earnings, etc. 9— Continued
All manufacturing industries— Continued
Nondurable-goods industries— Continued
Tobacco manufactures
dollars.
Textile-mill products
_ _ d o _ ._
Broad-woven fabric mills
do
Knitting mills
- - - -do
Apparel and other finished textile products
dollars _.
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
dollars
Women's outerwear
do
Paper and allied products
_
do
Pulp paper and paperboard mills do
Printing, publishing, and allied industries
dollars _ _
Newspapers
. do
Commercial printing
do
Chemicals and allied products _
do
Industrial organic chemicals
do. Products of petroleum and coal. . _ _ . .do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
- do
Leather and leather products
do
Footwear (except rubber)
do
Nonmanufacturing industries:
Mining:
Metal
-- do
Anthracite
do
Bituminous coal
..do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars Nonmetallic mining and quarrying
do.-.
Contract construction
do
Nonbuilding construction
.
do
Building construction
do
Transportation and public utilities:
Local railways and bus lines t
do
Telephone
do
Telegraph
do
Gas and electric utilities
do
Wholesale and retail trade:
Wholesale trade
do____
Retail trade (except eating and drinking
places) _
dollarsGeneral-merchandise stores
do
Food and liquor stores
do
Automotive and accessories dealers _ - do
Service and miscellaneous:
Hotels year-round
do
Laundries
do_ _
Cleaning and dyeing plants.
do
Miscellaneous wage data:
Construction wage rates (ENR):§
Common labor
dol. per hr _
Skilled labor
do...
Farm wage rates, without board or room (quarterly)
-. dol. per hr
Railway wages (average, class I)
- do
Road-building wages, common labor
do
1.28
1.37
1.34
1.30
1.28
1.37
1.34
1.30
1.27
1.36
1.34
1.29
1.28
1.36
1.34
1.29
1.22
1.36
1.33
1.29
1 20
1.37
1.34
1 30
1 22
1 37
1.33
1 31
1 24
1 37
1.33
1 31
1 25
1.37
1.33
1.31
1 27
1 36
1.31
1 32
1 29
1 37
1.32
1 32
* 1.32
TO 1.37
pl.32
pl.33
p 1.34
p 1. 36
1.29
1.51
1.29
1.51
1.32
1.59
1.33
1.56
1.36
1.62
1.35
1 62
.35
62
1.35
1 61
1.36
1.59
1.37
1 60
.37
61
p 1.37
p 1.61
pl.32
1.10
1.44
1.67
1.10
1.43
1.67
1.11
1.46
1.68
1.11
1.52
1.70
1.12
1.55
1.70
1 13
1 52
1.73
.14
52
.71
1 14
1 48
1.71
1.14
1 51
1.72
1 15
1 52
1.72
1 81
15
53
.72
81
p
p
v
p
pl.72
2.19
2. 51
2.09
1.80
1.94
2.19
2.53
2.09
1.82
1.94
2.20
2.53
2.10
1.83
1.96
2.19
2.51
2.09
1.86
1.99
2.20
2.51
2.09
1.86
1.99
2.24
2.57
2 12
1.88
2 05
2.22
2.56
2 13
1.85
2 01
2.22
2 55
2 13
1 86
2 01
2.25
2.59
2 14
1.87
2 01
2.24
2 53
2 15
1 87
2 01
2.25
2 54
2 15
1 87
2 01
p 2 . 25
P 2. 55
p 2 15
P 1.87
p 2 02
P2.25
2.18
2.28
1.93
2.25
1. 37
1 32
2.18
2.28
1.95
2.26
1.38
1 33
2.17
2.27
1.93
2.23
1.37
1 32
2.23
2.33
1 95
2.25
1 36
1 31
2.24
2 34
1 94
2 24
1 37
1 32
2 29
2 40
1 92
2 21
1 38
1 32
2 25
2 35
1 92
2 20
1 38
I 32
2
2
1
2
1
1
2
2
1
2
1
1
2
2
1
2
1
1
26
36
94
21
38
32
2 25
2 35
1 94
2 22
1 38
1 33
P 2 25
p 2 35
p 1 93
p 2 21
P 1 38
p 1 33
p 2.26
1.96
2.45
2.48
1.97
2.49
2.47
1.99
2.49
2.50
2.08
2.46
2.47
2 10
2.44
2 49
2 14
2 47
2 49
2 09
2 48
2 48
2 10
2 48
2 49
2 10
2 47
2 47
2 11
2 48
2 48
2 05
2 52
2 47
p 2 04
p 2 48
v 2 47
2.16
1.66
2.39
2.18
2.44
2.16
1.68
2.39
2.19
2.44
2.17
1.68
2.39
2.19
2.44
2.24
1.71
2.41
2.22
2.47
2.25
1.73
2 44
2.26
2 49
2.27
1 76
2 46
2 28
2 52
2.24
1 75
2 49
2 31
2 54
2
1
2
2
2
28
73
50
31
55
2
1
2
2
2
25
73
51
30
57
2
1
2
2
2
28
73
54
33
58
2 26
1 72
2 53
2 29
2 59
p 2.26
p 1 71
p 2 52
p 2 28
p 2 58
1.68
1.65
1.77
1.91
1.69
1.67
1.79
1.93
1.70
1.67
1.80
1.93
1.72
1.65
1.78
1 95
1.72
1.66
1 78
1 96
1 74
1 73
1 84
1 98
1
1
1
1
1
1
1
1
75
75
78
99
1 74
1 71
1 78
1 98
1
1
1
1
77
72
78
98
1 78
1 73
1 78
1 97
P
p
P
p
1.75
1.76
1.76
1.78
1 78
1 80
1 79
1 79
1 80
1 81
1 80
p
1 80
1.38
1.09
1.49
1.65
1.39
1.11
1.50
1.66
1.40
1.12
1.50
1.67
1.41
1. 11
1.51
1.67
1.41
1. 11
1 51
1.67
1.42
1 12
1 54
1.65
1 42
1 12
1 55
1.67
1
1
1
1
1
1
1
1
39
10
55
63
1 43
1 15
1 56
1 62
1 43
1 14
1 56
1 64
p
p
p
p
1 43
1 14
1 56
1.64
.89
.97
1.12
.90
.98
1.15
.91
.98
1.14
.91
.98
1.14
91
.98
1. 14
93
99
1 16
94
99
1 17
94
1 00
1 17
95
1 00
1 17
95
1 00
1 18
95
1 00
1 18
94
1 00
1 18
1.824
2. 950
1.824
2. 955
1.852
2.979
1.877
3.021
1.921
3 062
1 921
3 073
1 927
3 085
1 933
3 086
1 933
3 086
1 944
3 095
1 944
3 095
1 944
3 100
.85
1.862
1. 40
1.877
1.867
.89
1.861
1.52
1.877
1 883
1 895
1 57
1 928
1 908
90
1 943
1 61
1 961
1 902
517
534
582
574
552
586
620
545
701
580
720
623
672
360
619
356
647
2,271
1 228
1,212
16
350
693
335
734
75
71
78
98
26
37
92
21
38
32
42
12
56
67
26
36
93
21
38
32
1. 14
1 52
1.73
1 82
1
1
1
1
P 1.88
p 1 95
P 1 39
78
72
79
97
1 947
3 100
84
1 46
FINANCE
BANKING
Acceptances and commercial paper outstanding:
Bankers' acceptances
mil. of dol
Commercial paper. _ _
..do
Agricultural loans outstanding of agencies supervised by the Farm Credit Administration:
Total
mil. of dol_ .
Farm mortgage loans, total
do
Federal land banks- - ._
do
Land Bank Commissioner.
do_. _
Loans to cooperatives
do
Short-term credit
_
do.
Bank debits, total (345 centers) f
New York City
6 other centers cf
-
do
do
do
455
464
417
441
428
408
333
794
313
825
2,330
1,156
1,136
20
320
855
145,567
52, 038
32, 742
141,981
50, 255
32, 283
153,846
56, 623
33, 807
435
429
478
451
515
475
319
866
312
854
2,310
1,177
1 157
19
331
802
372
714
378
651
2,189
1 197
1 180
17
373
620
147, 957
51, 799
32, 683
134, 38fi
45, 516
29, 958
147, 699
54, 888
31, 422
149, 606
54, 152
31, 778
140. 992
50, 470
30, 477
168, 596
65. 367
35, 557
154, 289
62, 306
30, 806
141, 933
56,115
29, 341
171, 260
67, 913
36, 666
154,661
60, 479
33, 152
49, 994
25, 958
343
24, 989
20, 993
49, 994
20, 623
19,278 !
476 !
25, 983
45.0
51. 130
26, 252
329
25, 235
20, 933
51, 130
20.815
19, 309
493
26, 033
44.7
50, 969
26, 550
413
25, 348
20,897
50, 969
21,030
19, 460
634
26, 134
44.3
51. 150
26, 133
369
25, 095
21,348
51. 150
20. 669
19, 434
347
26, 455
45.3
52,315
26, 880
28
25, 91 6
21, 354
52, 31 5
21, 422
20, 160
763
26, 558
44.5
50, 509
25, 437
156
24, 639
21,274
50, 509
20, 688
19, 384
368
25, 885
45.7
50. 692
25J 688
350
24, 509
21,270
50, 692
20, 934
19,412
591
25, 757
45.6
50, 704
25, 316
147
24, 632
21, 278
50', 704
20, 773
19, 194
505
25, 487
46.0
50, 089
25, 382
172
24, 632
21,283
50, 089
20. 898
19. 528
P664
25, 472
45.9
Federal Reserve banks, condition, end of month:
Assets, total- .
mil. of dol
50, 389
50, 558
50, 243
50, 466
Reserve bank credit outstanding, total, -do
25, 589
25, 546
25, 414
26, 176
Discounts and advances
__
do
732
1,014
64
644
United States Government securities. .do
23, 880
24V 246
24, 746
24, 964
Gold certificate reserves
do
21, 356
21, 383
21, 286
21, 085
Liabilities, total
do
50, 389
50, 558
50, 243
50, 466
Deposits, total __ _ . _ _ _
_
do
21, 055
20, 976
21, 068
20, 396
Member-bank reserve balances
do. .
19, 740
20. 069
19,561 : 19, 607
Excess reserves (estimated)
do
351
806
102 •
590
Federal Reserve notes in circulation
do
25,598 , 25, 671
25, 831
25, 872
45.8
Reserve ratio
percent..
45.8 i
46.0
44.9
r
Revised.
» Preliminary.
§ See corresponding note on p. S-ll.
J Revised series. See note marked "J" at botto m of p. S- 13.
§ Rates as of May 1, 1954: Common labor, $1.964; skilled 1abor, $3.112.
t Re vised series. Bank debits have been revised to include additional centers amI to represe nt
c? Includes Boston, Philadelphia, Chicago, Detrc it, San Fnmcisco, an I Los Ange les.
535
debits t 3 demand ieposits.
Data back to Januarjr 1943 will be shown 1 ater.
SURVEY OF CUEEENT BUSINESS
S-16
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
June 1954
1954
1953
April
May
June
July
August
September
October
November
December
January
February
March
April
FINANCE—Continued
I
BANKING—Continued
Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month :f
Deposits:
Demand, adjusted
mil. of dol_.
Demand, except interbank:
Individuals, partnerships, and corporations
mil of dol States and political subdivisions
do
United States Government
do
Time except interbank total
do
Individuals, partnerships, and corporations
mil of dol
States and political subdivisions
do
Interbank (demand and time)
do
Investments, total
do _ _
U. S. Government obligations, direct and
guaranteed total
mil of dol
Bills
do
Certificates
- do
Bonds and guaranteed obligations
do
Notes
do
Other securities
do
Loans (net), total
do
Commercial, industrial, and agricultural --do
To brokers and dealers in securities _
do Other loans for purchasing or carrying securities __
_
mil. ofdoL.
Real-estate loans
do
Loans of banks
do
Other loans
do
Money and interest rates :d"
Bank rates on business loans:
54,176
53,708
52, 820
53,395
53, 059
52, 814
54, 692
54, 376
56, 217
55, 588
53, 913
51, 812
54,108
54, 608
4,241
1,426
17, 792
54, 185
4,041
1,356
17, 917
54, 263
3,975
2,469
18, 068
54, 082
3,736
5,292
18, 085
53, 699
3,834
4,639
18, 093
54, 639
3,711
4,434
18, 253
55, 965
3,612
2,346
18, 426
55, 727
3,685
3,410
18, 383
57,817
3,963
2,594
18, 718
55,831
4,093
2,275
18, 779
54,791
3,908
2,424
18, 917
52, 824
4,232
3,838
19, 050
54, 488
4,308
2,671
19, 124
16, 799
803
11, 382
36, 864
16, 901
829
11, 734
36, 542
17, 052
826
12, 359
36, 896
17, 074
822
11, 568
40, 225
17, 083
823
12, 056
39, 318
17, 259
804
12, 452
39, 196
17, 374
865
12, 773
39,244
17,311
882
13,062
40, 254
17, 596
932
13, 860
40,282
17, 619
970
12, 948
40, 697
17, 734
994
12, 983
40, 133
17, 771
1,087
13,017
38, 738
17, 854
1,078
12, 794
40, 177
29, 249
1,583
2,038
19, 857
5,771
7,615
39, 437
23, 133
1,540
29,144
2,043
1,850
19, 599
5,652
7,398
39, 439
22, 690
1,547
29, 501
2,514
2,090
19, 356
5,541
7,395
39, 649
22, 585
1,719
32, 705
2,855
4,985
19, 425
5, 440
7,520
39, 381
22, 643
1,830
31, 797
2,289
4, 705
19, 436
5,367
7,521
40, 067
22, 965
1,850
31, 663
2,317
5,522
17, 250
6,574
7,533
39, 705
23, 103
1,763
31,795
2,388
5,502
17, 251
6,654
7, 449
40, 294
23, 301
1, 663
32, 792
2,394
5,399
18, 541
6,458
7,462
40, 268
23, 134
1,877
32, 800
2,569
5, 303
18, 517
6,411
7,482
41, 020
23, 380
2,248
32, 989
2,517
4,764
18, 952
6,756
7,708
39, 963
22, 638
2,180
32,292
2,084
4,097
21, 313
4,798
7,841
39, 401
22,407
1,907
30, 850
2,076
2,737
21, 388
4,649
7,888
39,317
22, 763
1,758
32, 160
2,987
3,045
21, 598
4,530
8,017
38, 941
22, 183
1,744
789
6,214
611
7,760
779
6,257
930
7,847
755
6,302
948
7,960
763
6,326
446
7,992
732
6,365
762
8,016
726
6,397
402
7,935
724
6,438
806
7,983
748
6,449
703
7,978
868
6,481
646
8,019
826
6,486
541
7,924
811
6,478
679
7,754
847
6,522
241
7,825
849
6, 553
500
7,753
2.00
2.72
4.17
2.66
2.72
4.17
3.73
3.52
3.71
4.05
2.00
2.74
4.17
2.00
2.79
4.17
2.00
2.86
4.17
3.74
3.52
3.71
4.10
2.00
2.93
4.17
2.00
2.97
4.17
2.00
2.97
4.17
3 76
3 51
3 79
4.10
2.00
2.97
4.17
2.00
2.97
4.17
1.75
2.56
4.17
3 72
3 50
3 74
4 03
1.75
2.50
4.17
1.50
2.50
4.17
1.88
2.44
2.90
2.80
1.88
2.68
3.22
3.10
1.88
2.75
3.25
3.13
1.88
2.75
3.25
3.13
1.88
2.75
3.25
3.13
1.88
2.74
3.25
3.13
1.88
2.55
3.25
3.13
1.88
2.32
3.25
3.13
1.88
2.25
3.25
3.13
1.88
2.13
3.25
3.13
1.69
2.00
3.25
3.13
1.48
2.00
3.13
2.98
1.25
1.77
3.00
2.88
2.177
2.61
2.200
2.86
2.231
2.92
2.101
2.72
2.088
2.77
1.876
2.69
1.402
2.36
1.427
2.36
1.630
2.22
1.214
2.04
.984
1.84
1.053
1.80
1.011
1.71
13, 626
2,496
13, 702
2,477
13, 841
2,458
13,881
2,438
13, 920
2,419
14,014
2,402
14, 056
2,388
14, 141
2,374
14, 341
2,360
14, 442
' 2, 343
14, 500
» 2, 326
14, 651
*2, 311
14, 694
*2, 291
mil. of doL.
do
do
do
_ __do
do
26, 455
19, 767
9,111
5,217
1,435
4,004
27, 056
20, 213
9,432
5,272
1,462
4,047
27, 411
20, 635
9,692
5,333
1,493
4,117
27, 581
21, 004
9,973
5,351
1,516
4,164
27, 810
21,218
10, 136
5,362
1,534
4,186
27, 979
21,347
10, 232
5, 352
1,562
4,201
28, 166
21, 486
10, 337
5,366
1,585
4,198
28, 252
21, 586
10,358
5,406
1,604
4,218
28, 896
21, 807
10, 289
5,605
1,606
4,307
28, 125
21, 444
10, 084
5,495
1,587
4,278
27, 478
21, 151
9,915
5,377
1,570
4,289
27,151
20,900
9,800
5,220
1,554
4,326
27, 330
20,909
9,798
5,188
1,554
4,369
do
do
!
do
do
do
do. _ _
_
do
do
do_ _ _
. d o
16, 800
8,286
5,312
906
2,296
2,967
925
807
348
887
17, 222
8,491
5,480
928
2. 323
2, 991
933
809
362
887
17, 621
8,675
5,633
962
2,351
3,014
937
812
373
892
18, 000
8,818
5,816
988
2,378
3,004
923
812
386
883
18, 205
8,879
5,924
1,009
2,393
3, 013
931
813
396
873
18, 328
8,893
6,005
1,029
2,401
3,019
943
811
399
866
18, 439
8,908
6,093
1,041
2,397
3,047
957
812
406
872
18, 495
8,881
6.147
1,050
2.417
3,091
983
826
408
874
18, 534
8,856
6,147
1,064
2,467
3,273
1,068
866
407
932
18, 276
8.723
6,062
1,043
2,448
3,168
1,031
836
400
901
17, 999
8,534
5,974
1,055
2,436
3, 152
1,094
814
393
851
17,845
8,452
5,892
1,074
2,427
3,055
1,056
795
388
816
17,859
8,417
5,901
1 096
2,445
3,050
1,058
789
388
815
6, 680
6, 577
6,776
6,688
6,632
6,843
6,666
7,089
6,681
6,592
Noninstalment credit, total t
do_ ..
2,131
2,079
2,294
2,197
2,246
2,083
2,130
2,100
2 127
2,131
Single-payment loans
_
do
2,811
2,705
2,781
2,763
2,682
3,249
2,716
2,893
2,668
2,840
Charge accounts
do
1,793
1,798
1,705
1,786
1,786
1,726
1,793
1,760
1,713
1,738
Service credit
._ __ . _._ do
By type of holder:
2,131
2,079
2,197
2,246
2,294
2,083
2,100
2, 130
2,131
2,127
Financial institutions
do. __
2,811
2,781
2,705
2,716
2,763
2,682
2,840
3,249
2,893
2,668
Retail outlets
do
1,793
1,705
1,798
1,760
1,726
1,713
1,786
1,793
1,786
1,738
Service credit
_- . _ do
Instalment credit extended and repaid: 9
Unadjusted:
2,297
2,389
2,602
1,869
2,486
2,598
2,436
2,605
2,670
2,580
Extended, total
_ _
_ _ _ _ _ _
_do _ _
1,121
974
1,089
1,226
947
750
1,126
1,258
1,218
1,219
Automobile paper
do
646
824
622
668
625
619
517
687
658
648
Other consumer-goods paper
_ do
677
697
691
754
602
827
675
764
699
704
All other
do
2,197
2,232
2,347
2,260
2,233
2,222
2,134
2,377
2,229
2,248
Repaid total
do
1,016
955
953
1,016
993
945
963
959
946
897
Automobile paper..
_ _ do _ .
606
654
604
625
627
635
608
626
603
648
Other consumer-goods paper
do
684
677
651
632
638
650
736
634
663
635
All other
--do _
Adjusted:
2,441
2,393
2,331
2,211
2,409
2,
546
2,358
2,498
2,485
2,458
Extended, total
_ __
do
872
1,080
1,035
1,102
1,117
1,044
1,142
1,117
1,090
1,168
Automobile paper__ - d o __
631
661
589
662
621
593
600
672
649
675
Other consumer-goods paper
do
730
687
694
678
703
707
719
693
696
703
All other
_ do
2,294
2,249
2,283
2,184
2,301
2,252
2,183
2,232
2,273
2,195
Repaid, total
do
921
963
1,006
1,015
962
977
967
939
917
955
Automobile paper
__ _ . _ _ __
do _
619
604
633
643
633
609
632
622
610
636
Other consumer-goods paper
_ .-do
669
664
657
653
663
653
634
645
688
657
All other
-_-do .
r
Revised.
*> Preliminary.
t Re vised beginning 1952 to expand the coverage of the series by making a net addition of 8 banks. Revisions for January-May 1952 will be shown later.
cf For bond yields see p. S-19.
JData beginning 1952 have been revised in accordance with recent benchmark materials; revisions for 1952 appear on p. 24 of this issue of the SURVEY.
9 For a description of these new data and for figures prior to February 1953, see the January and March 1954 issues of the FEDERAL RESERVE BULLETIN.
6,327
2,054
2,550
1,723
6,251
2,073
2,438
1,740
6,421
2,105
2,566
1,750
2,054
2,550
1,723
2,073
2,438
1,740
2,105
2,566
1,750
1,864
776
470
618
2,157
945
588
624
2,285
985
540
760
2 536
1,100
697
739
2,315
998
594
723
2, 306
1,000
626
680
2,243
919
586
738
2,320
1,028
612
680
2,200
924
566
710
2 412
1,042
667
703
2,272
926
621
725
2,308
1,009
610
689
New York Citv
do
11
th
c\
t
iti
c\
Discount rate (N. Y. F. R. Bank).
do
Federal intermediate credit bank loans
do
Federal land bank loans
___ ...do
Open market rates, New York City:
Acceptances, prime, bankers', 90 days
do
Commercial paper, prime, 4-6 months - do
Call loans, renewal (N. Y. S. E.)
do
Time loans, 90 days (N. Y. S. E.)
do
Yield on U. S. Govt. securities:
3-month bills
do
3-5 year taxable issues
do
Savings deposits, balance to credit of depositors:
New York State savings banks
mil. of doL_
U. S. postal savings
__do
CONSUMER
CREDIT (Short- and Intermediate-Term)
Total outstanding, end of month
Instalment credit total J
Automobile paper
Other consumer-goods pappr
Repair and modernization loans
Personal loans
By type of holder:
Financial institutions, total
Commercial banks
Sales-finance companies
Credit unions
Other
_
Retail outlets, total
_
Department stores
Furniture stores
Automobile dealers
Other
_
SURVEY OF CURRENT BUSINESS
June 1054
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-17
1954
1953
April
June
May
July
August
September
October
November
2 894
2 645
5 144
4 605
December
January
February
March
April
FINANCE—Continued
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures: §
Receipts total
Receipts, net 9
Customs
Income and employment taxes
Miscellaneous internal revenue
\11 other receipts
mil of dol
do
-_ do
do _ _
do
do
Expenditures, total 9
do
Interest on public debt
do
Veterans Administration
do
National defense and related activities _ do
All other expenditures
do
Public debt and guaranteed obligations:
Gross debt (direct), end of month, total
do
Interest bearing, total
do
Public issues
do
Special issues
do
Noninterest bearing
do.
Obligations guaranteed by U. S. Government,
end of month
. mil. of dol
U. S. Savings bonds:
Amount outstanding, end of month
do
Sales series E through K
do
Redemptions
- - do
Government corporations and credit agencies:
Assets except interagencv, total
mil. of dol
Loans receivable, total (less reserves) _ -- do
To aid agriculture
do
To aid home owners
do
Foreign loans
__ _ _ __
do
All other
dc
Commodities, supplies, and materials
do
U. S. Government securities _ .._
-do
Other securities and investments
do
Land, structures, and equipment
do
All other assets
do
Liabilities, except interagencv, total
Bonds, notes, and debentures Other liabilities
Privately owned interest
U S Government interest
.
4,044
2, 849
54
3,021
880
90
6,362
372
351
3,891
1,749
264, 590
262, 550
223, 077
39, 474
2,040
5,140
4,380
51
3,998
922
169
6, 241
179
350
10, 323
9,744
51
9,179
939
155
7,988
1,882
3,619
3. 293
52
2, 395
937
235
6 052
349
237
369
3,746
1,966
4,056
1,701
3,890
1. 556
266, 520
264, 445
224, 735
39, 710
2,075
266, 071
263, 946
223, 408
40 538
2, 125
272, 669
270, 603
230, 009
40 594
2,066
5, 153
4 475
47
4,011
955
140
5 948
206
351
0 402
5, 988
50
5,218
981
152
6 066
51
47
1,698
1,019
3 947
125
968
182
5 462
5 333
560
327
3,519
1 873
354
340
3,787
1 392
3,647
1 121
273, 206
271, 145
230, 157
40 988
2 061
272, 937
270, 744
229 785
40 958
2 193
273, 386
271, 291
230 403
40 888
2 095
164
349
5 403
5 132
48
4 619
4 458
39
4 133
3 538
6 336
1 294
5 058
919
304
749
293
3,540
1 280
376
245
343
3 465
1 201
3 001
1 468
275, 209
273 128
232 115
41 013
2 081
275, 168
272 881
231 684
41 197
2 287
274, 849
272 632
231 623
41 009
2 216
i 6 468
5 444
41
5? 408
860
159
i 4 7Q7
372
345
3 568
423
274, 782
272 536
231 466
41
fWA
2 246
13 013
11 434
44
11 865
954
149
5 555
588
340
3 830 |
797
270, 235
267 823
226 821
41 002
2 412
3 956
2, 751
52
2, 865
860
179
5 296
350
383
4, 563
271,047
268, S55
227 806
41 04Q
2 192
52
52
52
63
63
64
66
74
76
75
77
77
80
58, 509
382
426
58,014
371
57, 977
370
57, 962
402
57, 940
371
57, 882
368
57, 860
384
57, 889
368
57, 934
423
57,918
561
57, 960
704
560
58, 050
602
598
58, 106
511
538
968
do
do
...do
do
do__._
542
541
480
514
36, 153
17,637
4, 997
2,914
7,798
2,154
2,201
2, 588
3,430
7,867
2,430
37, 141
18, 502
5,512
2 986
8,010
2,246
2, 259
2,586
3,429
7,911
2,454
3, 162
1,182
1,979
3 381
1,306
2 075
415
489
438
514
C1 K
424
32, 576
33 335
LIFE INSURANCE
Assets, admitted :
All companies (Institute of Life Insurance), estimated total
..mil. of dol._
Securities and mortgages
do
49 companies (Life Insurance Association of America) total
mil of dol
Bonds and stocks, book value, total .. do
Govt. (domestic and foreign), total
do
U S Government
do
Public utility
do
Railroad
do
Other
do
74, 686
67, 035
75, 063
67, 330
75, 403
67, 698
75, 855
68, 105
76, 244
68, 337
76, 612
68 709
77, 121
69, 124
77, 552
69 478
78, 201
69 992
78, 866
70, 544
79, 251
70, 884
79, 649
71, 238
80, 144
71 645
r 65, 691
Ml, 013
10. 816
8,734
11. 708
3,412
' 15, 076
65, 997
41, 123
10, 692
8,726
11, 760
3,412
15, 259
66, 262
41, 277
10, 602
8,676
11, 827
3,412
15,436
66, 621
41,451
10, 564
8,634
11,897
3,418
15, 572
66 944
41, 531
10, 565
8,634
11, 952
3, 423
15 591
67 294
41, 739
10, 527
8, 585
12 043
?,429
15 740
67 685
41, 976
10, 517
8,566
12 132
3,451
15 875
68 046
42 120
10, 476
8 480
12 213
3,461
15 971
68 587
42 317
10 435
8 427
12 295
3 484
16 102
68 989
42, 607
10, 509
8,407
12 325
3,505
16 267
69, 337
42, 801
10, 541
8,414
12, 447
3, 507
16, 307
69, 652
42, 942
10, 461
8,306
12, 548
3,499
16, 433
70 024
43 087
10,464
8 287
12 621
3 520
16 482
790
759
'710
793
726
707
789
776
Cash
_ __
_
do
776
777
889
911
799
19, 689
18, 182
18, 306
19, 525
18, 619
18, 444
18, 716
Mortgage loans, total
__
do
18 950
19 098
18 818
19 410
19 321
19 885
1,584
' 1, 563
1,697
1,615
1,685
1 599
Farm
do
1 648
1 628
1 638
1 654
1 674
]' 714
1 666
17, 992
16, 618
16, 722
17,004
16,845
17, 840
17 302
17, 087
Other
.. . do
17 180
17 444
17 736
18 171
17' 655
2, 351
' 2, 340
2,480
2,374
2,365
Policy loans and premium notes..
do
2,413
2,387
2,460
2,402
2,425
2 494
2 447
2 436
1,694
1,792
1,687
1,702
1,707
Real-estate holdings
do
1,726
1,778
1
732
1,745
1
752
1
769
1 801
1 740
T
1,959
1,763
1, 759
1,743
1,767
Other admitted assets
do
1 827
1 824
1 795
1,980
1 875
1 959
1 868
1 862
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance) :
3,136
3,269
2,934
3,427
2,784
3,243
2,772
2,880
2,867
3,055
Value, estimated total t - mil. of dol
3 782
2 594
3 187
518
677
513
504
477
600
477
437
407
550
Group and wholesale t
do
1 105
489
450
543
499
584
608
543
526
537
519
562
549
Industrial t
-1
do
554
' 477
432
1,958
2,049
2,330
2,010
2 100
1 837
Ordinary, total c?
do
1 776
1 911
1 956
1,810
2 144
2 200
1 712
131
137
155
126
124
138
New England
_.
. do
116
110
128
'l28
144
137
122
483
538
487
484
460
395
439
Middle Atlantic
do
371
431
450
515
490
418
444
427
436
505
449
East North Central
do
383
398
402
424
426
4^2
467
375
165
171
172
172
201
West North Central.
do
160
155
151
153
156
177
189
143
241
237
233
247
261
219
222
South Atlantic
._
do
237
195
233
250
263
180
82
91
83
85
96
East South Central
do
78
84
85
83
75
90
88
72
178
191
195
176
216
170
West South Central..
do
164
170
177
168
197
201r
153
72
75
73
72
68
84
Mountain
do
69
67
68
60
86
7)
59
247
226
237
242
232
274
Pacific
...
do
234
221
209
222
197
260
191
Institute of Life Insurance:
Payments to policyholders and beneficiaries, esti345, 385
mated total
thous. of dol._ 365, 145 355, 232 383, 861 361, 977
359, 570
383, 180
374, 908
461, 416
352. 150
481, 224
408, 692
437, 531
164, 114
158, 288
169, 925
162 438
157, 326
Death benefits
do
167 530
196 916
155 700
906
152 387
191 711
171 065
m 7Qfi 163
36, 314
37, 168
39, 094
36, 873
35,611
49
479
Matured endowments
do
40, 792
37 155
39 862
40
856
49 345
45 376
50 744
1 r»' f)4cy
8, 834
8,733
8,867
9 265
7 982
Disability pavments
_
do
8 683
8 678
10 241
8 717
8 573
9 495
9 573
35, 049
35, 339
34, 018
33,904
33, 908
Annuity payments
__ _.
do
33 477
33, 732
38 682
35 971
35 062
4Q 11^
37 426
36 458
57, 485
58, 826
60, 133
Surrender values
do
55 733
57 780
54 548
60 153
58 376
79 293
64 579
62 825
72 312
on icn
58, 118
61, 975
Policy dividends _ . _
_.
do
61, 713
71, 958
54, 829
8l' 787
60 515
86 805
63 686
56 837
128 668
73 908
Life Insurance Association of America::}:
r
669, 865
633, 799
574, 765
584, 707
619, 800
Premium income (39 cos.), total _
do
581,965
640
679
602
574
627
683
639
410
722
082
942
298
619
537
r
73 494
79 316
78, 104
76, 383
Accident and health
do
88 698
81, 653
76 143
83 104
84 481
82 273
87 704
96 825
90 *>69
r
74, 863
91,674
61,039
65,634
Annuities
_ _
do
204
911
101
219
72
779
70
363
83
589
80
719
86
309
89
843
80
333
r
48, 224
53, 122
77 237
Group
do
60 744
56 386
55 502
53 064
56 284
52 442
57 444
71 221
66 055
56 866
Industrial _. _
__ do
68, 094
83, 828
68, 740
69,080
69 463
81 955
69 001
90 155
67 571
70 623
85 132
77 031
118 852
' 312. 245 314.063
356.403
347. 339
318. 226
329. 168
450. 489
315. 581
312.556
316. 649
342. 761
393. 348
324. 205
Ordinary
do
r
Revised.
i See note marked "§."
§ErIective with February 1954, data are reported on a budgetary basis; they are not entirely comparable with earlier data which are as originally shown in the daily Treasury Statement.
9 Beginning July 1953, appropriations of receipts to the Railroad Retirement Account are deducted from budget receipts and therefore are excluded from budget expenditures.
^Revised data for January-July 1952 for new paid-for insurance written are shown on p. S-17 of the October 1953 SURVEY; revisions for 1951-52 for premium income will be shown later,
d* Data for 1953 for total ordinary insurance written include revisions not distributed by regions.
SUEVEY OF CUEEENT BUSINESS
S-18
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
June 1954
1954
1953
April
May
June
July
August
September
October
November
December
January
February
March
April
21, 969
37, 500
1,088
3,517
FINANCE—Continued
MONETARY STATISTICS
Gold and silver:
Gold:
22, 562
Monetary stock U S
mil. ofdol..
Net release from earmark §
thous. of dol_. -16,800
2,704
Exports
-. .do
9, 685
Imports
do
64, 200
Production reported monthly total
do
38, 900
Africa
do
12, 900
Canada
_
_.
do
5,200
United States
- - -do
Silver:
883
Exports
_
do
6,285
Imports
do__
.853
Price at New York.
dol. perfineo z _ _
Production:
3,077
Canada
thous. of fine oz
1,984
Mexico
_ _
do
3,018
United States
do
Money supply:
29, 843
Currency in circulation
_ _
mil. of dol
199, 100
Deposits and currency, total
do
2,400
Foreign banks deposits, net
_
_
do__
4,600
U S Government balances
do
192, 200
Deposits (adjusted) and currency, total- .do
98, 000
Demand deposits, adjusted
do
67, 200
Time deposits
.
do. .
27, 000
Currency outside banks
„ . . do
Turnover of demand deposits except interbank and
U. S. Government, annual ratert
35.4
New York City
...ratio of debits to deposits..
26.7
18.4
338 other reporting centers
do
22, 537
22, 463
22, 277
-48, 900 -68, 500 -171,700
1,835
3,654
2,747
1,874
1,690
2,255
65, 500
64, 700
67,000
39, 400
38, 800
40, 600
12, 900
12, 900
12, 700
6,100
6,000
6,800
22, 178
-78,800
1,881
1, 754
66, 000
40, 400
11, 500
6,200
22, 128
-55,000
10, 100
10, 039
65, 700
39, 800
11, 700
6,200
22, 077
—72, 500
3,752
4,306
22, 028
-35, 100
2,668
2,114
22, 030
-21, 200
3,526
2,081
21, 956
-43, 300
7,074
1,555
21,958
—9, 900
303
1 , 930
21, 965
-2,000
389
9,397
40, 500
10,000
6,800
39,900
9,500
6,200
40, 300
9,600
6,100
40, 800
10, 300
5, 100
10, 900
4,900
5,400
307
6,548
.853
324
6,243
.853
403
11, 873
.853
253
6,497
.853
198
5,091
.853
282
3,870
.853
314
4, 412
.853
128
5,618
.853
182
6, 326
.853
2, 354
3,063
2, 525
2,029
2,752
2,652
2,067
6,045
2,301
2,098
2,514
3,558
2,143
5,077
2,511
2, 244
6,678
3,751
2,414
4,065
3,372
1,896
4,203
3,163
2,151
230
5,364
.853
3,578
11, 296
.853
2,520
4,850
2,823
2,539
2,605
1,909
29, 951
199, 100
2,400
4,600
192, 100
97, 500
67, 600
27, 000
30, 125
200, 360
2,467
5,333
192, 560
96, 898
68, 293
27, 369
30, 120
205, 100
2,500
9,600
193, 000
97, 400
68, 400
27,200
30, 248
204, 800
2,400
9,000
193, 400
97, 500
68, 700
27, 300
30, 275
204, 900
2,500
8,100
194, 300
97, 700
69, 100
27, 500
35.6
26.2
18.8
38.9
26.5
19.2
36.0
25.7
19.2
32.2
23.6
17.8
40 2
25.9
19.3
r
r
30, 807
30, 398
205, 500 ' 207, 100
<• 2, 700
' 2,600
7,000
5, 700
197, 400
197, 300
100, 200
100, 300
69. 300
69,600
27, 900
27, 400
35.8
23.9
18.4
38.4
26.4
20.2
r
3,775
30, 781
29, 981
29,904
29, 707
' 209, 175 p 207, 100 P 206, 200 p 205, 200
' 2, 694 P 2, 800
P 2, 900
P 3, 000
r
5, 564
p 4, 400
p 5, 800
v 6, 900
r
200, 917 p 199, 800 P 197, 400 p 195,200
* r 102, 451 p 102, 300
p 99, 600
P 96, 700
70, 375
P 70, 600 p 71, 000
p 71, 700
' 28, 091 P 26, 900 P 26, 900 p 26, 900
43.1
26.8
19.7
42.7
24.1
'18.6
r
42.7
25.5
19.1
44.6
'29.2
19.5
190
4,843
.853
3,643
29,
p 206,
p 3,
p 5,
P 197,
p 98,
P 72,
p 26,
735
200
100
800
300
600
000
700
41.3
27.7
19.0
PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Fed. Trade and SEC) :*
Net profit after taxes, all industries mil. of dol _
Food and kindred products.
do
Textile -mill products
do _ _ .
Lumber and wood products (except furniture)
mil. of dol
Paper and allied products
_* do
Chemicals and allied products
do
Petroleum refining
_ _ __
do
Stone, clay, and glass products.
..do
Primary nonferrous metal
do
Primary iron and steel - _ _
do
Fabricated metal products (except ordnance,
machinery, and transportation equipment)
mil of dol
Machinery (except electrical)
do
Electrical machinery
do
Transportation equipment (except motor vehicles etc )
mil of dol
Motor vehicles and parts
do
All other manufacturing industries
do
Dividends paid (cash) all industries
do
Electric utilities, net profit after taxes (Fed. Res.)
mil of dol
Railways and telephone cos. (see p. S-23).
3,031
219
83
2,871
275
77
61
113
284
520
127
124
243
47
116
252
545
121
104
236
140
278
165
142
159
103
184
163
85
272
316
1 287
68
236
282
1 244
80
233
218
1,796
246
233
'219
2 591
190
33
24
105
238
624
80
109
205
"88
SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
capital and refunding)
mil of dol
Domestic total
Corporate
do
do
1,041
942
927
588
15
323
15
99
99
11
65
24
1,538
1,323
1,287
597
45
645
36
215
215
16
198
2
1,626
1,491
1,465
1,057
16
393
25
135
135
37
79
19
1,210
1,142
1,141
584
30
527
1
69
69
644
497
495
239
0
255
3
146
146
3
140
4
i 1, 442
U,344
1,266
705
99
462
8
98
98
2
94
2
1,111
1,033
974
421
76
477
59
78
78
7
67
3
898
783
762
358
0
404
22
115
115
24
88
2
2,324
2,219
2,161
1,388
0
773
58
106
106
36
62
8
i 1, 117
1977
835
441
0
393
44
140
140
20
115
4
Municipal State etc
do
Foreign
do
Refunding total
do
Domestic total
do
Corporate
do
56
Federal agencies
do
2
Municipal State etc
do
Securities and Exchange Commission:}:
1,954
1,913
1,386
1,655
4,613
2, 736
3,066
1,676
1,928
2,291
3, 506
1,453
2,599
Estimated gross proceeds total
do
By type of security:
1,699
1,736
1,545
1,297
2,642
4,367
2,064
1,381
2,877
1,517
1,815
3.400
2.507
Bonds and notes, total
do
366
513
428
462
468
656
1,385
263
977
353
407
375
676
Corporate
do
63
144
110
90
164
156
125
48
69
51
65
82
210
Common stock..
do
27
69
108
20
33
43
82
18
35
37
7
31
44
Preferred stock
_
do
By type of issuer:
456
571
726
647
1,478
336
1,166
714
815
768
603
459
520
Corporate total
-do
136
53
119
423
111
110
48
287
315
134
135
57
101
Manufacturing
do
34
32
20
29
38
3
38
32
41
19
7
21
5
IVTining
do__
279
272
333
367
228
399
202
98
214
339
246
362
249
Public utility
do
48
16
31
30
23
9
25
15
60
6
10
25
10
Railroad
do
24
27
7
31
38
14
611
13
31
7
6
21
90
Communication
. .
do
54
12
52
43
416
96
48
90
81
124
162
246
45
Real estate and
financial
do
1,083
1,186
1,308
861
1,258
930
1,831
1,408
3,899
1,689
1,117
3,047
1,900
Noncorporate, total
.do.
511
561
423
515
602
853
884
1.454
491
3,244
1,070
1,320
2,610
U. S. Government
..do
414
522
726
349
399
411
522
443
476
483
260
650
777
State and municipal
do
r
Revised.
» Preliminary.
* Includes International Bank securities not shown separately.
§Or increase in earmarked gold (—).
fRevised series. Data reflect change in number of reporting banks and centers; figures back to January 1943 will be shown later.
9 Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
*New series. Compiled jointly by the Federal Trade and Securities and Exchange Commissions. Data are estimated totals based on reports from all manufacturing corporations registered
with SEC, all nonregistered manufacturing corporations with total assets of $5,000,000 and over at the end of 1949, and a sample of nonregistered manufacturing corporations with total assets
of less than $5,000,000 at the end of 1949. Comparable data beginning with the first quarter of 1951 are available upon request.
^Revisions for 1952-February 1953 will be shown later.
SURVEY OF CURRENT BUSINESS
.Tune 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-19
1954
1953
April
May
July
June
September
August
October
November
December
January
February
March
April
FINANCE—Continued
SECURITIES ISSUED—-Continued
Securities and Exchange Commission}:— Continued
New corporate security issues:
Estimated net proceeds, total
mil. of doL_
Proposed uses of proceeds:
New money, total
-do
Plant and equipment
do__ Working capital
do
Retirement of securities
do
Other purposes
do
Proposed uses by major groups:
Manufacturing, total
do
New money
do
Retirement of securities
__do
Mining total
do
New money
- - do
Retirement of securities
do
Public utility, total
.--do
Now money
do
Retirement of securities
do
Railroad total
do .
New money
,
do
Retirement of securities
do_
Communication, total
do_ _
New money
do
Retirement of securities
do
Real estate and financial, total
do
New money
do
Retirement of securities
do
State and municipal issues (Bond Buyer) :
Long-term
thous. ofdol
Short-term
do
802
697
1,147
510
330
757
590
451
1,464
563
448
713
635
748
525
223
23
32
591
463
127
22
85
1,034
597
437
24
89
459
364
95
27
24
270
161
109
5
55
691
423
268
4
62
550
430
120
1°
28
406
301
105
22
23
1 413
1,111
303
26
25
531
485
46
18
13
410
338
72
9
29
590
473
117
53
70
480
3*2
98
139
15
309
300
7
3
3
0
223
199
8
24
24
0
13
12
0
162
151
109
68
19
36
32
283
211
7
31
30
133
108
17
19
18
46
33
2
6
5
56
50
2
38
r
37
99
331
300
17
23
23
0
37
37
209
206
1
9
9
0
20
15
2
43
32
3
(i)
123
92
(i)
356
334
5
6
6
0
13
11
245
225
16
10
10
0
5
5
0
45
44
418
400
9
37
34
1
200
184
8
59
59
0
608
608
134
111
16
32
29
1
276
275
(i)
48
48
0
26
25
0)
12
U
52
46
391
348
(i)
15
15
0
132
93
1
5
3
0
242
227
1
24
24
0
89
88
(i)
243
239
107
95
0
29
28
0
362
306
46
16
14
2
30
22
0
88
54
0
117
99
15
30
16
12
328
254
74
31
19
12
24
24
0)
6
1
94
91
(')
o
o
412
406
0
o
(i)
97
86
o
9
9
o
30
29
(n
6
18
17
o
o
9
80
74
3
260, 063
366 327
475, 595
251, 039
482, 876
294, 113
410,562
o
47
40
1
o
(i)
18
17
o
269
258
o
30
23
7
7
7
0
51
40
0
o
r
o
53
18
25
399, 429
304 473
414,306
190 858
777. 141
218 734
438, 195
569, 850
' 266, 676
725 558
249 413
262
318
268
371
210
310
158
250
136
244
160
369
183
413
1,624
674
1,070
1, 641
672
1 098
1 654
682
1 127
297
1 694
709
1 170
1 690
741
1 108
1 688
768
1 062
1,716
787
1, 054
1 786
819
1 094
95 58
95 96
74 79
96.74
97 18
75 25
97 59
98 03
75 70
97 30
97 72
75 78
98 32
98 74
76 30
99 32
99 74
77 17
100 28
100 68
77 49
100 64
101 04
78 34
101 00
101 4!
78 17
110.7
115. 1
92 98
111.4
116 9
92 89
110.9
116.9
93 40
112.5
119 7
95 28
113.6
121 4
94 gg
113.5
122 3
95 85
114.6
123 6
97 42
116.5
125 4
98 62
117.9
125 6
99 87
118.1
123 9
100 36
69, 942
83 260
56, 270
64 949
46, 982
54 677
53, 136
61 895
62, 397
77 035
48, 741
56 894
87, 702
97 078
79, 128
91 677
80, 038
91 416
83, 039
92 499
74, 769
83 764
60, 227
69 753
68 208
80 340
54, 572
62 723
45 364
52 327
51 954
60 238
60 529
74 607
47 433
55 102
86 220
94 863
77 099
88 276
78 470
88 486
81 229
89 996
72 f)01
8 ! 1Q°
62 085
34
62, 051
68 751
0
68, 751
60, 659
8 024
55 874
0
55, 874
48, 477
47 574
64 037
8
64, 029
57 153
6 727
59 g22
Q
59, 622
53 034
6 499
69 272
1
69, 271
(}9 126
6 861
86, 352
72 247
13 970
75 856
fj
75, 850
62 595
13 109
79 181
0
79, 181
65 421
13 691
75 16*5
7,293
56 308
0
56, 308
49 468
6 795
86 352
47, 574
41 087
6 455
98, 562
96, 662
1,429
103, 251
100, 853
1,899
98, 985
97, 094
1,421
104, 830
102, 432
1,898
99, 454
97, 576
1,411
104 357
100, 279
100,010
96, 506
94 549
1 406
99 184
96 754
1 856
99, 828
97 871
1 406
101 539
99 122
1 84°
99 162
1 421
101 936
99 4199
1 84
107, 646
105 557
1 424
107 346
104 843
1 838
107, 976
105 867
1 441
107 286
104 782
1 839
106 255
1 140
1 07 288
104 781
1 843
3.40
3.53
3 1°
3 23
3 29
3 44
3.65
3
3
3
3
348, 859
144, 986
650, 210
228, 600
443, 040
151,384
521, 899
172, 444
185
259
183
281
307
586
254
610
237
689
243
476
1,594
738
1,068
1,671
673
1,193
282
1,684
653
1,216
1,664
651
1,161
1 682
641
1 182
95.46
95.84
94.42
94.79
74 88
95 30
95 69
74 62
95.82
75 27
96 22
74 44
93.25
111.7
121.5
109.8
119.4
91.59
108.8
115. 1
91 56
71,709
61,993
72 496
69, 691
76, 976
0
76, 976
64, 778
12, 002
54,611
7,372
COMMODITY MARKETS
Volume of trading in grain futures:
Corn
mil. ofbu
Wheat
- .-do ._SECURITY MARKETS
Brokers' Balances (N. Y. S. E. Members
Carrying Margin Accounts)
Cash on hand and in banks
Customers' debit balances (net)
Customers' free credit balances
Money borrowed
_
.
mil. of doLdo
do_. .
do
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.),
total§
dollars
"Domestic
_
do
Foreign
do
Standard and Poor's Corporation:
Industrial, utility, and railroad (A1+ issues):
Composite (17 bonds)
dol. per $100 bond__
Domestic municipal (15 bonds)
-do .
V 8 Treasury bonds, taxable
do
Sales:
Total, excluding U. S. Government bonds:
All registered exchanges:
Market value
thous. of dol_.
Face value
__ _
do
New York Stock Exchange:
Market value
.do.__
Face value
do
New York Stock Exchange, exclusive of stopped
sales, face value, total§
thous of dol
U S Government
do
Other than U. S. Government, total§.. do
Domestic
- - do ...
Foreign
do
Value, issues listed on N. Y. S. E.:
Market value, total, all issues§ ....mil. of dol._
Domestic
do
Foreign
-do
Face value, total, all issues§
do
Domestic.
..
do
Foreign
- _ - . do ...
Yields:
Domestic corporate (Moody's)
percent
By ratings:
Aaa
Aa
A
Baa
_ _ _ _ _
do
do
do
do
88, 128
83,115
34
41
58
78
o
101,246
1, 390
104 651
102, 284
1 ,867
98 142
1 395
104 634
102 269
1 865
93, 472
91, 599
1 400
96 620
94 259
1 861
94, 572
92 613
1 406
96 904
94 471
1 858
3 61
3.55
3 51
3 54
3 45
3 38
3 39
3 34
3 23
3 14
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3 11
3 27
3 40
3' 75
3
3
3
3
13
9
8
40
74
3 06
2 95
2 86
9 or
"} 99
3 19
3 35
3 71
3 25
3 61
3 16
3 51
•> i r.
•1 / I T
3 27
3 38
3 51
3 28
3 37
3 52
3 9'i
3 31
3 47
2.60
2.62
9 85
2.58
2. 59
101,966
1,891
40
50
67
86
98,419
28
42
62
86
24
39
56
85
99
43
56
88
16
33
4
7
82
By groups:
Industrial
do
3 27
3 39
3 42
3 48
3 39
3 33
3 37
3 54
Public utility. ...
do
3 44
3 57
3 56
3 62
3 58
3 46
Railroad
do
3 51
3 63
3 67
3 73
3 56
3 65
3 61
Domestic municipal:
Bond Buyer (20 bonds)
do___
2.68
2.81
2.92
3.04
2.92
2.82
2.69
Standard and Poor's Corp. (15 bonds) . _ _do
2.63
2.73
2 99
2.99
2.89
2.72
2.88
9 07
U. S. Treasurv bonds, taxable.
do
9. 83
2^99
3. on
2.97
3.09
3. 09
T
Revised.
*> Preliminary
i Less than $500,000.
fRevisions for 1952—February 1953 will be shown later.
§Sales and value figures include bonds of the International Bank for Reconstruction and Development not shown separately;
all listed bonds.
o
r
9 70
2.46
2.50
9 AS
9. 1 9
3 23
0
108,356
'j o'>
0 r>r
14
3
Oc
2.39
2.39
9 fin
2.44
2.38
2. 49
2.47
*> K l
these bonds are included also in computing& average
3 price of
*
*
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
June 1054
1954
1953
April
May
June
July
August
September
October
November
December
January
February
March
April
FINANCE—Continued
SECURITY MARKETS—Continued
Stocks
Cash dividend payments publicly reported:
Total dividend payments. .
_ mil.ofdol Finance
do
Manufacturing
do
Mining
do
Public utilities:
Communications
do
Heat light, and power
do
Railroad
do
Trade
--do
Miscellaneous
do
Dividend rates, prices, yields, and earnings,
common stocks (Moody 's):
Dividends per share, annual rate (200 stocks)
dollars ..
Industrial (125 stocks)
_do
Public utility (24 stocks)
do
Railroad (25 stocks)
do
Bank (15 stocks)
do _
Insurance (10 stocks)
_ _
_do
561. 2
103. 5
190.1
7.3
221.5
49.0
100.4
2.6
1, 234. 7
87.6
802.2
87.3
576. 0
137.0
200.6
5.6
220.9
52.0
88.0
2.5
1, 235. 3
86.4
796.1
86.2
553.3
100.1
205 9
6.9
232.4
52. 5
102 0
2 5
1,715.2
170.6
1 081.7
141.3
689.5
134.7
239. 8
8.3
244.1
68.9
84 2
1.9
1, 274. 5
78.7
833. 1
93.9
588.3
108.0
212 5
6.8
105 0
67 9
30.6
50.1
r
67
10
51.8
3.1
7.6
60
36.2
94.6
56.4
49.0
21 4
104.3
66.3
14.1
39.2
8 9
1 0
55. 4
10.0
7.6
4 4
51.8
94.7
49.3
50.8
19 9
104 0
65.9
17.4
41.8
11 3
1.1
57.0
2.9
7.8
6.4
43.7
100.3
87.4
48.8
41.4
104 4
68.0
32.3
92.3
96
11
56.9
10. 1
17.0
4 0
39.4
102. 3
60.0
43.8
23.2
107 6
70.2
24.7
51.3
7.2
3.97
4.17
1.96
3.01
2 82
3.09
3.98
4.17
1.98
3.01
2.82
3.09
3.97
4.16
2.01
3.03
2.82
3.09
3.98
4.15
2.01
3.09
2 82
3.10
3.99
4.16
2.07
3.11
2 82
3.10
3.98
4.15
2.07
3.11
2 82
3.10
4.06
4.25
2.07
3.13
2.83
3.12
4.08
4.26
2.09
3.21
2.87
3.16
4.08
4.27
2. 00
3.21
2.97
3.26
4.11
4.30
2.09
3.25
3.01
3.26
4.14
4.34
2 11
3.24
3 01
3.28
4.14
4.34
2 13
3.11
3.01
3.37
4.18
4.41
2 13
3.11
3.01
3.37
72.35
75.56
36 96
48.48
72.24
75.45
37 08
48.97
71.14
74.28
36.02
48.40
72.87
76.24
36.81
49.03
69.34
71.85
37. 16
44.39
69.51
72.09
37.20
43.61
72.59
75. 90
38.59
45.18
73.79
76.97
39.70
45.56
73. 50
77. 06
39.61
43.18
77.11
81.37
40.87
46.58
77.85
81.98
41 42
46.80
80.56
85.53
42. 56
46.40
84.67
90. 76
42 91
47. 16
Yield (200 stocks)
..percent-5.49
Industrial (125 stocks) _
do
5.52
Public utility (24 stocks)
do
5 30
Railroad (25 stocks)
do
6.21
Bank (15 stocks)
do
4.49
Insurance (10 stocks) _ _ _
_
do
3 41
Earnings per share (at annual rate), quarterly:
Industrial (125 stocks)
dollars
Public utility (24 stocks)
do
Railroad (25 stocks)
do
Dividend yields, preferred stocks, 11 high-grade
(Standard and Poor's Corp.)
percent
4.33
Prices:
Dow -Jones & Co., Inc. (65 stocks) _dol. per share. - 107. 52
Industrial (30 stocks) .._
do
275. 28
Public utility (15 stocks)
do
51.59
Railroad (20 stocks)
do
104. 05
Standard and Poor's Corporation:
Industrial, public utility, and railroad:§
Combined index (480 stocks). .-1935-39=100. _
190.0
Industrial, total (420 stocks)
do
205.5
Capital goods (129 stocks)
do
191.8
Consumers' goods (195 stocks)
do
177.8
Public utility (40 stocks)
do
121.5
Railroad (20 stocks)..
do
173.3
Banks, N. Y. C. (16 stocks)
do
122.3
Fire and marine insurance (17 stocks) . do
216.0
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
_.mil. of doL.
1,783
Shares sold
thousands
83, 729
On New York Stock Exchange:
Market value
mil. of dol
1,541
Shares sold..
.-thousands..
64,111
Exclusive of odd lot and stopped sales
(N. Y. Times) .
thousands
34, 370
Shares listed, New York Stock Exchange:
114,862
Market value, all listed shares
mil. of dol
2,840
Number of shares listed
. millions. _
5.51
5.53
5 34
6.15
4.60
3 41
5.58
5.60
5 58
6.26
4.64
3.50
5.46
5.44
5.46
6.30
4.59
3.40
5.75
5.79
5 57
7.01
4.55
3.46
5.73
5.76
5.56
7.13
4.53
3.40
5.59
5.60
5 36
6.93
4.45
3.35
5.53
5.53
5.26
7.05
4.28
3.32
5.55
5.54
5.28
7.43
4.61
3.26
5.33
5.28
5 11
6.98
4.72
3.20
5.32
5 29
5 09
6.92
4.77
3.08
5.14
5.07
5.00
6.70
4.81
3.17
4.94
4 86
4 %
6.59
4.66
3 08
Price per share, end of month (200 stocks) -_do
Industrial (125 stocks) ._
.
do
Public utility (24 stocks)
do
Railroad (25 stocks)
do._
T
8.08
2.78
8.76
7 76
2 85
8.49
7 76
2 79
8 31
' 7 75
2.82
'3. 14
4.38
4.47
4.37
4.30
4.30
4.19
4. 15
4.20
4.15
4.08
4.04
4 02
108. 07
276. 84
50.97
105. 58
104. 42
266 88
48.66
103 09
106. 08
270. 32
49.03
105. 68
106. 21
272. 21
50. 40
103.12
100. 98
261.90
49.16
94.46
103. 58
270. 73
50.53
95.44
105. 82
277 10
51. 57
97 23
106. 74
281.15
52.54
96.37
103. 86
286.64
53. 33
98.17
111. 55
292. 13
54.39
102. 44
113.11
299. 15
55.64
101. 38
115.94
310 92
56.39
102 01
189.6
205.2
192.3
177.6
120.8
174.2
121.3
214.1
182.8
197.5
183.7
170.7
117.2
169.3
115.3
205.1
185. 5200.1
185. 9
171.7
119.2
173.7
117.6
208.5
187.3
202.1
188.1
172.8
121.1
170.2
121.4
215.7
179.2
192.6
180.2
165.4
119.6
156.1
119.6
209.7
183.4
197.2
186.7
168.8
122.2
156.7
122.6
215.5
187.5
202.3
192.2
171.0
123.6
158.5
124.8
225.6
190.7
206.2
197.0
172.9
125.2
156.9
124.3
229.4
195.4
211.9
201.0
177.0
126.7
159.5
122.8
238.0
199.6
216.5
204.8
178.1
128.8
165.8
121.7
243.7
204.9
222.9
211.7
180.5
131.0
165.4
120.7
248.1
212.7
233 1
225 3
184 6
132.5
163 7
121.8
249 1
1,325
58, 380
1,290
63 844
1,073
42, 528
1,119
42, 437
1,248
53, 392
1,170
50,610
1,188
52, 290
1,568
65, 081
1,533
64. 873
1,700
60, 104
2,043
75 234
2 173
84 949
1,129
43, 936
1,106
49, 757
903
28, 809
946
29, 841
1,068
38,011
995
36, 557
1,010
37, 872
1,344
45, 458
1,296
47, 313
1,458
43, 482
1,751
52, 932
1 879
62 793
25, 767
26, 075
22, 234
23, 893
27, 172
25, 728
26, 684
36, 159
33, 375
33, 295
44, 132
43 867
115,371
2,862
113,306
2,878
115.886
2,882
110, 750
2,889
1 10, 479
2,892
115, 428
2,902
117,478
2,918
117,257
2,927
123, 190
2,931
124, 906
2,937
129, 122
2,943
134 586
2 967
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS (QUARTER LY)J
Exports of goods and services, total
Merchandise, adjusted
Income on investments abroad.
Other services—
mil. of dol._
do
do
do
Imports of goods and services, total
Merchandise, adjusted
Income on foreign investments in U. S
Other services
_do_. .
do
do ..
do
5, 750
4,508
450
792
4,929
4,313
3,125
112
1,076
4.286
3,717
439
773
2,916
101
' 5, 194
3, 956
570
'668
4,747
3,630
' 3. 948
' 3, 297
3, 753
3, 130
1,269
r
124
527
458
659
103
520
Balance on goods and services..
do
+1, 437
+643
'+1,246
+994
Unilateral transfers (net), total.
Private
._ .
Government
do
do
do
-2,064
-1,354
-1,358
— 1 360
— 122
— 128
—117
-1,943
-1,226
—1,241
+67
108
— 1 252
U. S. long- and short-term capital (net), total. do
Private
do
Government
do
+100
-34
-201
— 23
-178
«• —250
r —226
' —24
332
+151
Foreign long- and short-term capital (net)
+270
+445
+263
+462
+128
+302
+130
456
do
Increase (— ) or decrease (+) in U. S. gold stock
mil. of dol. _
— 181
Errors and omissions
do
+162
+165
-31
4-29
r
Revised.
* Preliminary.
§ Number of stocks represents number currently used; the change in the number does not affect the continuity of series, t Revisions for the first 2 quarters of 1*952 appear on p. 12 of the
September 1953 SURVEY; those for the first quarter of 1953, on pp. 10-11 of this issue of the SURVEY. Revisions for second and third quarters of 1953 will be shown later.
SURVEY OF CUERENT BUSINESS
June 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-21
1954
1953
April
May
June
July
August
September
October
November
December
January
February
March
April
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE
Indexes
Exports of U. S. merchandise :cf
Quantity
1936-38= 100. _
Value
do
Unit value
-- do
Imports for consumption:^
Quantity
do
Value
do__ .
Unit value
do
Agricultural products, quantity:
Exports, U. S. merchandise, total:
Unadjusted
1924-29=100..
Adjusted
do__ Total, excluding cotton:
Unadjusted
do
Adjusted
do
Imports for consumption:
Unadjusted
do
Adjusted
do
279
567
203
291
591
203
280
564
201
274
553
202
237
482
203
249
511
205
248
508
204
248
506
204
270
550
203
218
443
203
238
479
'202
225
457
203
175
486
278
158
434
275
164
451
275
158
435
275
147
407
278
162
453
279
145
401
277
149
409
275
159
437
276
149
411
276
144
398
277
153
426
279
82
102
77
99
70
96
73
99
73
89
81
67
78
59
87
70
90
73
72
69
82
94
89
97
130
156
113
134
105
131
126
157
115
120
130
107
122
98
135
116
123
108
100
99
107
125
114
123
126
119
104
106
105
113
100
111
91
99
116
119
87
86
99
101
107
106
103
100
95
94
101
90
6,292
8,942
6,704
9, 282
7,096
9,366
7,018
8,994
6,889
8,590
6,581
9,187
6,408
8,688
5,776
8,830
4,887
' 9, 148
3, 751
8,428
Shipping Weight
Water-borne trade:
Exports, incl. reexports©
General imports
thous. of long tons..
- -do
Valued*
Exports, including reexports, totall
mil. of doL.
By geographic regions:A
Africa
thous. of dol .
Asia and Oceania
_ - -- do
Europe
_
do
Northern North America
_.
do
Southern North America _
do
South America
- do.
Total exports by leading countries:A
Africa:
Fgypt
do
Union of South Africa
_
_
do
Asia and Oceania:
\ustralia, including New Guinea
do
British Malaya do
ChinaO
do
India and Pakistan
__ -- do
Japan
do
Indonesia
do
Republic of the Philippines
do
Europe:
France
- do
Germany
do
Italy
-- do
Union of Soviet Socialist Republics _. do
United Kingdom
do
North and South America:
Canada
- do
Latin American Republics, total
do
Argentina
_ do
Brazil
do
Chile
do
Colombia
do
Cuba
d°
Mexico
- do
Venezuela
do
Exports of U. S. merchandise, totalt-.mil. of dol._
By economic classes:
Crude materialsthous. of doL_
Crude foodstuffs
_. _
do
Manufactured foodstuffs and beverages. .do
Semimanufactures 9
do
Finished manufactures 9 --_
_ _ do
By principal commodities:
Agricultural products, total
do
Cotton, unmanufactured do
Fruits, vegetables, and preparations
do
Grains and preparations
do
Packing-house products _
_
do
Tobacco and manufactures
do
Nonagricultural products, total
Automobiles, parts, and accessories
Chemicals and related products§
Coal and related fuels
Iron and steel-mill productsMachinery, total §
_
Agricultural
Tractors, parts, and accessories
Electrical§._
Metalworking§
_.
_
Other industrial
do
do
do
do
do
do
do
do
do
do _
do
1,393
1,451
1,383
1,357
1,184
1,254
1,251
1,244
1,349
1, 091
1,180
'1,123
44, 430
171,016
250, 396
283, 755
133,384
122, 874
44, 791
180, 098
247, 821
294, 820
136,871
132, 007
36, 880
157, 069
220, 125
291, 063
129, 328
129, 102
44, 413
173, 574
197, 874
244, 942
125, 598
114,647
42, 128
165, 318
190, 346
233, 453
108, 546
123, 362
50, 689
191, 936
239,015
238, 492
136, 806
132, 871
32, 386
171, 760
243, 996
246, 993
142, 480
129,313
37, 917
198, 150
246, 392
224, 566
130, 196
133, 791
39, 953
231, 508
296, 108
210, 795
146, 649
152, 227
36, 195
169,867
218,351
199, 403
131, 036
116,841
40, 384
197, 658
245, 441
207, 846
129, 771
123, 924
28, 815
174, 333
222, 037
244, 985
115,000
96,228
4,454
18, 194
3,958
18,365
4,000
16, 504
8,234
18,351
10, 191
14, 430
4,428
17,036
3,280
13, 586
4,224
13,412
2, 692
16,053
2, 545
18, 083
2,724
19, 390
4,028
12, 147
8,392
3,264
0
10, 806
50, 870
8,699
29, 375
11,086
2, 560
0
12, 898
50, 330
6, 280
39, 177
7,507
2,205
0
14, 801
44, 953
9,266
33,715
9,248
2,982
0
24, 185
47, 200
10, 246
27, 767
7,121
2,530
0
19, 549
51,956
11,827
20, 862
13, 657
2,417
0
27, 976
61,092
8, 327
30, 603
9,277
2,065
0
21, 969
62, 760
7, 533
28, 803
19,015
2,542
0
24, 072
75, 263
8, 156
23, 610
18,394
2,996
0
19, 845
83, 229
8,131
33, 300
8,710
1,576
0
10,019
75, 879
6,876
20, 551
13, 046
2,691
0
17, 369
83, 167
7,112
25, 808
11, 685
1, 926
0
13, 293
72 885
5.943
25, 857
26, 685
26, 514
28, 638
0)
53, 552
39, 882
29, 482
27, 844
3
44,112
27, 867
25, 474
23, 869
4
39, 423
18,351
24, 764
16, 977
5
32, 144
18, 705
23, 266
16, 555
0
34, 364
31,477
26, 890
22, 142
0
60, 461
29, 889
40, 023
16,368
1
50, 781
23, 772
33, 368
24, 101
2
50, 003
30, 837
37, 905
27, 685
1
61,665
22, 920
31, 759
22, 145
0
44, 560
27, 649
39, 292
21, 625
3
49, 820
20, 329
44, 769
15, 627
2
39, 828
283, 753
237, 722
5,942
23, 824
6, 506
24, 259
30, 827
52, 021
43, 745
1,381
294, 813
* 253, 365
8,214
24, 428
7,118
26, 844
34,315
48, 045
46, 998
1,441
291,035
244, 344
14, 177
24, 619
7,227
24, 438
32, 025
53, 408
42, 297
1,375
244, 934
226, 247
6,499
20, 265
6,637
22, 994
37, 276
52, 481
41, 429
1,349
233, 442
220, 505
9,924
23, 847
7,244
24, 301
27, 585
48, 258
40, 061
1,175
238. 472
256, 548
12,512
29, 088
8,528
24, 571
38, 108
54, 668
37, 446
1,245
246, 985
257, 574
6,617
21, 686
11,471
25, 560
37,157
65, 339
46, 411
1,238
224, 532
250, 198
10,812
24, 792
9,583
24, 841
36,154
54, 172
44, 763
1,234
210, 788
283,025
11,498
33, 387
12, 933
27, 887
39, 008
63,087
47, 883
1,340
199, 399
235, 987
9, 527
25, 030
5,241
21,221
33, 185
53,159
39, 202
1,079
207, 840
242, 599
7,748
31,347
4,580
22, 743
34, 305
56, 622
41, 001
1,168
244, 982
202, 407
4,594
23, 900
5,050
17, 312
28, 386
57, 758
34, 652
1,114
132, 865
82, 535
53, 798
113.056
998, 878
139, 458
75,511
55, 875
113, 759
1,056,508
127, 507
68, 621
53, 970
112,146
1,012,917
96, 978
82, 121
60, 573
110,630
998, 506
120, 432
73, 443
50, 676
105, 998
824, 689
145, 424
82, 105
55, 525
123, 970
837, 978
152, 414
70, 148
60, 607
129, 479
825, 435
159,762
69, 739
76, 108
127, 476
800, 689
186, 780
55, 534
68,016
154, 668
874, 642
133, 430
44, 835
54, 783
131, 682
714, 482
134, 323
53, 436
63, 030
141, 730
775, 785
137, 969
55, 716
64, 984
133, 096
722, 730
223, 971
38, 396
17, 853
89, 683
15, 561
38, 129
221, 811
48, 278
22, 572
77, 033
15,038
30, 657
197, 227
41, 340
23, 677
70, 335
14,463
24, 930
196, 812
21, 175
20, 617
90, 883
14, 795
19, 327
196, 970
35, 154
19, 726
73, 083
14, 735
25, 696
245, 254
37, 165
20, 044
88, 178
15, 525
52, 876
242, 957
40, 168
22, 243
77, 878
17, 297
41, 531
280, 338
44, 570
20, 031
85, 747
20, 174
40, 868
301, 461
68, 347
18, 294
70, 227
22, 167
52, 532
204, 987
54, 136
15, 755
55, 895
15, 950
26, 710
235, 570
71,415
19, 169
66, 052
20, 005
16, 451
243, 765
80, 369
22, 105
59, 301
15, 060
17, 826
1,157,161
162, 186
68, 453
29, 329
43, 456
1,219,300
142, 195
71, 700
33, 831
45, 817
1,177,935 1,151,996
134, 401
112, 876
70, 433
65, 670
35, 556
33, 107
41, 827
36, 335
978, 267
97, 538
62, 010
36, 438
33, 229
999, 749
99, 481
77, 759
35, 593
36, 227
995,125
88, 891
70, 601
35, 164
38, 481
953, 437 1,038,179
82, 773
94, 660
69, 931
82, 305
27, 837
18, 483
44,615
39, 424
874, 224
100, 614
64, 245
18, 261
39, 822
932, 734
113, 927
73, 166
15, 669
39, 077
870, 730
102, 837
66, 613
15, 521
35, 991
274, 300
15, 201
33, 468
76, 058
24, 935
114, 926
278, 619
16, 278
32, 954
76, 254
26, 605
115,931
214, 577
12,411
23, 922
58, 240
16, 619
96, 106
238, 343
11,367
27, 081
62, 069
21,519
105, 424
221, 589
7,416
24, 828
64, 098
19, 868
94, 783
213, 727
6,682
24, 479
58, 717
18, 125
95, 010
192, 899
8,846
20, 027
56, 513
16, 235
82, 577
217, 501
11, 107
24, 829
56, 890
20, 699
94, 039
198, 970
13, 170
24, 211
51,613
11,859
90, 927
r
266, 214
14, 705
32, 890
74, 312
23, 165
111, 680
238, 612
14, 032
26, 756
62, 529
22, 777
103, 624
248, 795
7,831
27, 993
65, 096
23, 064
112, 997
1,421
67, 092
Petroleum and products
.do
56, 083
56, 958
55, 787
54, 461
55, 009
53, 910
58, 430
61, 315
51, 575
51,614
45, 500
53, 852
Textiles and manufactures
do
58, 193
52, 234
47, 771
45, 007
56, 302
55, 935
53, 218
55, 214
47, 532
52,312
43. 961
!
' Revised. Less than $500. <f Revisions for 1952 and January 1953 will be shown later,
©Excludes "special category" shipments and all commodities exported under foreign-aid programs as Department of Defense controlled cargo.
' "
- - . - ments are as follows (mil. dol.): ' • * - - - - •
AExcludes shipments under
_
..._„_.„
reported as "special category type 1" are included with finished manufactures.
§Excludes "special category type 1" exports.
SURVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
June 1054
1954
1953
May
April
June
July
August
September
October
November
December
January
February
March
April
857, 214
957, 200
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE—Continued
Value cf —Continued
General imports , total
thous . o f dol . - 1,012,629
By geographic regions:
61,418
Africa - _.
_
_ _ ..
do.-.
177,538
Asia and Oceania
do
207, 871
Europe _ _ _ _ _ _ do
212, 401
Northern North America
..do
147, 705
Southern North America do
205. 696
South America
do- By leading countries:
Africa:
4,389
Egypt
do
7,299
Union of South Africa
- _
do.__Asia and Oceania:
14,161
Australia, including New Guinea
do
23, 461
British Malaya _
do. .
1,196
ChinaO
do
26, 082
India and Pakistan.
do
22,
331
Japan
do
19,347
Indonesia
do
23,937
Republic of the Philippines
do
Europe:
18,863
France
_ __
_ _
.
do_ _
26, 225
Germany
do
12, 123
Italy
- _ -- -_ _ _
do
1,128
Union of Soviet Socialist Republics
do
46, 934
United Kingdom
_
do
North and South America:
212, 370
Canada
do
337, 822
Latin American Republics, total.. __ do
18,549
Argentina
do
59, 677
Brazil
do. 27, 304
Chile
do
43, 764
Colombia _ _ _ _ _
_
do
50, 040
Cuba
do
39, 630
Mexico __ __ _ _ _- _ _do
33, 573
Venezuela
do
997, 483
Imports for consumption, total _ _ _ _ _ _ do
By economic classes:
223, 683
Crude materials
do.
215,927
Crude foodstuffs
.
__
do
1 04, 224
Manufactured foodstuffs and beverages . do
260, 106
Semimanufactures
__ do
193, 543
Finished manufactures
doBy principal commodities:
422, 266
Agricultural products, total.
do
17,662
Cocoa or cacao beans, incl. shells _
do
148, 646
Coffee
do
8,765
Hides and skins _
_ -- -- _ _ _ do
33, 938
Rubber, crude, including guayule
do
44, 531
Sugar
_
do
29, 572
Wool and mohair unmanufactured
dc
Non agricultural products, total
_. _ do . 575,217
6,915
Furs and manufactures
do.
Nonferrous ores, metals, and manufactures,
total
thous. of dol . 127,089
46, 652
Copper incl ore and manufactures do
24,139
Tin, including ore
_ _ ..
do
23, 677
Paper base stocks
do
51,661
Newsprint
_
_
do
56, 802
Petroleum and products
do
r
r
901, 638
933, 005
907, 623
841,048
925, 328
913, 167
848, 948
907, 692
833, 003
' 809, 724
50, 510
163, 742
194,917
209, 972
103, 905
178,492
44, 781
174, 560
200,184
222, 638
102, 227
188, 614
43, 010
145,452
204,181
204, 113
102,930
207, 936
44, 568
144, 884
178,909
204, 332
94, 714
173,642
44, 537
154,099
202, 287
204, 330
80, 389
239, 686
48, 269
139,020
197, 997
201, 636
60, 378
165, 871
50, 059
134, 647
196,115
207, 908
72,240
187, 978
59, 790
126,544
184, 572
211,715
104, 949
220, 122
55, 750
124,751
159,916
161, 137
129,787
201 , 663
60, 948
118 915
155, 743
172, 593
133, 550
167, 977
49, 774
119 609
147, 645
203, 182
143, 987
193, 022
2,497
6,499
1,262
7,786
1,589
6,361
786
7,273
1,632
7,099
606
6,918
975
7,637
1,149
8,248
1,433
6,613
1,178
6,846
3 037
9,170
11,285
20,211
499
22,011
21,137
18,023
25, 934
12, 527
18, 978
265
22, 579
22, 552
22, 056
34, 521
8,561
15,332
601
19, 421
23, 727
20, 974
24,654
13. 020
14,854
1,538
15,559
26, 491
14,912
22,287
8,828
14, 669
537
18,891
23, 489
20, 228
27, 353
7,523
14, 884
1 291
21,353
21,917
14, 597
20,157
12, 436
13, 307
361
20, 085
21,557
14, 291
19, 493
12, 105
13,898
917
19,903
17,867
13,169
17, 759
12, 273
11,484
r
633
20,375
17, 693
12,577
18, 535
8,361
10,r 523
435
20, 932
15, 563
12, 369
19, 338
4,989
11, 476
374
21,491
16, 178
10,714
19, 393
14,417
22, 936
13, 209
876
45, 629
17, 885
25, 483
11, 549
1,128
44, 395
20, 471
24, 388
15,725
1,134
54,076
13, 963
22, 889
11,470
585
44, 527
14, 385
25 169
12, 161
594
48,132
14, 292
25 411
14, 701
929
44, 790
14, 984
22 892
18,142
624
42, 512
12, 626
20 939
13, 336
577
40, 769
11,008
21 511
8,776
711
36,911
10,901
17 965
11 655
717
37, 464
10 278
18 983
10 711
854
37, 861
209, 961
267, 151
14, 577
43, 197
27, 170
35, 066
40, 252
26, 993
37, 177
890, 946
222, 472
274, 424
16,088
48, 619
30, 403
33, 927
39, 632
28,840
34, 216
923, 982
203, 938
294, 529
27, 731
56, 775
20, 278
41,713
40, 680
26, 207
35,643
892,610
204,159
253, 655
9,959
48, 030
17,178
42, 827
45, 095
23, 263
35, 791
835, 452
203, 842
305, 023
11,173
100, 594
11,744
52, 658
37, 530
18,442
41,035
928, 1 30
201 441
212, 168
11 426
56, 969
13, 511
27, 286
19,641
19,619
35, 845
822,015
207 660
239, 125
7 513
79, 480
6,892
35, 061
17,528
21 , 1 01
35, 564
838, 233
211 639
301,367
6 333
91,144
8,099
51,134
22, 429
27,187
42, 225
895, 958
161 075
309, 645
5 103
80,984
13,832
37, 954
33, 624
31,695
42, 639
842, 609
172 540
277, 769
7 410
49 765
13, 782
39 911
36 710
34 023
38 067
816 706
203 150
317, 260
10 447
6l' 501
14, 183
41,881
43 656
40 354
47 129
873, 400
219, 157
150,638
99, 382
239, 032
182, 732
228, 003
148, 033
104, 735
259, 436
183, 776
216, 033
157, 752
101,381
231,868
185, 576
202, 744
146,711
95, 351
221,208
169, 438
226,108
208, 542
99,423
211,458
182, 598
210, 097
141,224
81,572
199, 990
189, 132
197, 488
193, 546
79, 388
185,154
182,657
203, 527
247, 291
75, 445
186,412
183, 282
206, 580
232, 843
81,626
174, 988
146. 572
196 282
202 984
88, 067
166 544
162 829
208 531
208 506
97, 908
182, 716
175 740
331,406
17,390
87, 985
8,110
29, 106
42, 786
24, 240
559, 540
5,529
328, 394
17,282
88,413
9,162
30,217
49, 070
22, 191
595, 587
6,468
327, 435
13, 754
102, 509
6,405
26, 445
43, 058
27,815
565,175
5,506
302, 521
9,343
92, 939
6, 502
21,683
r
43, 779
19, 485
532, 931
5,596
382, 231
7,551
155 948
6,667
27, 375
40, 400
21 904
545, 898
5,186
272, 174
6,250
90 356
4,226
21,881
20, 588
20 546
549, 842
3,917
321, 877
5,849
131 057
4,103
23,177
15,937
16 908
516,357
3,081
372, 263
23, 929
174,929
3, 775
19,704
16,916
14 580
523, 695
7,924
371, 131
35 681
162 458
3,474
18, 678
32, 006
19 404
471,478
6 844
339, 756
25 102
140 745
3 132
17, 080
36 852
14 636
476 951
7 540
361,964
11 940
158 351
4 215
18,855
45 467
18 975
511 436
5 023
118,926
44, 439
22, 275
25, 003
48, 600
62. 516
136, 928
51,172
22, 989
27, 082
50, 828
61,049
113, 520
41,501
19,384
22, 824
48,314
59, 457
99,185
31,009
17,584
27, 802
51,934
58, 201
105,522
35, 075
14,997
25, 755
48, 1 22
67, 861
97,177
31 509
17, 840
26 606
52,514
64 157
87, 639
19 236
16,215
24, 712
49, 444
67, 400
88, 697
19, 305
18, 737
23, 384
53, 630
76 506
91,097
20 899
18,911
20 657
42, 423
70 314
88, 875
r 32 246
12 629
24 873
46 515
66 982
96, 889
26 202
13 665
24 920
53 567
74 328
r
r
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Airlines
Operations on scheduled airlines:
42, 004
41, 782
37, 681
39, 550
39, 517
40, 238
40, 935
37, 765
37 345
41 402
39, 361
39, 035
Miles flown, revenue
thousands-14, 065
13, 426
13, 650
14 485
14, 768
16, 380
13, 992
14, 033
16, 945
13, 494
Express and freight ton-miles
flown
do.
12 880
14 735
6,641
5,352
5,829
5,874
5,400
6 313
6 134
5 557
8 834
6 816
6 093
Mail ton-miles
flown
do
6 070
2,354
2,409
2,321
2,238
2,385
2,015
2,334
2, 265
2,256
2,083
2,023
Passengers carried, revenue
do. _
2 038
Passenger-miles flown, revenue _ __
do- _- 1, 206, 462 1, 218, 245 1, 320, 710 1,305,097 1, 332, 565 1,261,366 1, 225, 997 1,064,211 1, 166, 586 1,175 797 1 116 969 1, 256, 754
Express Operations
33, 121
31, 032
31, 162
29, 890
33, 728
34, 161
30, 626
38, 974
32, 613
27 425
Transportation revenues _
thous. of dol
33 063
27 850
9 502
10,536
13, 527
11 918
11,410
12, 166
14, 438
15 157
12 845
Express privilege payments
do
16 557
8 768
13 977
Local Transit Lines
12. 9386
13. 0657
12.8941
12. 9767
13. 1843
13. 0127
12. 7818
12. 8008
12. 8432
13. 2203
13 2521
13. 3559
Fares, average cash ratef
cents.
831
885
944
972
878
865
946
927
862
977
Passengers carried revenue
millions
905
803
132,
900
127,
700
129,
200
120,
500
121,
500
142,
200
118,
300
126,
600
121,
100
125, 200
Operating revenues
- _
thous. of dol119 800
130 400
Class I Motor Carriers (Intercity)
Carriers of property (quarterly totals) :§
1,062
1 053
1,057
Number of reporting carriers
598, 137
609, 769
598, 401
Operating revenues, total
__
thous. of dol
574 547
574, 343
605 884
Expenses total
do
33,563
32, 727
31, 867
Revenue freight carried
thous. of tons
13 5559
874
Carriers of passengers (quarterly totals):
168
166
165
Number of reporting carriers _
102, 976
115, 868
93 969
Operating re venues total
thous of dol
89, 974
95 247
90 005
Expenses total
do
91, 406
92, 853
Revenue passengers carried
_ .thousands .
84, 726
' Revised.
* Preliminary.
cfRevisions for 1952 and January 1953 will be shown later.
©Including Manchuria beginning January 1952.
§It should be noted that data for 1938-44 shown in BUSINESS STATISTICS (1953 edition) are not comparable with subsequent data in that volume and in the SURVEY beginning with the
October 1953 issue. The data through 1944 cover reporting intercity common carriers of all types of commodities, whereas later data are for carriers of general commodities only (i. e., they
exclude carriers of special commodities and intercity contract carriers). Data for 1945 for carriers of all types, comparable with earlier data, are as follows: Number of reporting carriers, 1.408;
operating revenues, $185,132,000; expenses, $184,708,000; revenue freight carried, 25,839,000 tons.
fData have been revised (beginning August 1945) to include fares charged by transit companies operating in cities having a 1950 population of 25,000 or over; revisions prior to August 1952
will be shown later.
SUKVEY OF CUREENT BUSINESS
June 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
1954
1953
April
May
July
June
TRANSPORTATION
TRANSPORTATION—Continued
Class I Steam Railways
Freight carloadings (A. A. R.):^
Total cars
thousands
Coal
do
Coke
do
Forest products
do
Grain and grain products
do
Livestock..
.
.
..do
Ore
do
Merchandise, 1. c. 1 _ _ _
.
do
Miscellaneous
do
Freight carloadings (Federal Reserve indexes):
Total, unadjusted
1935-39=100
Coal
do
Coke
do . .
Forest products
do
Grain and grain products
do
Livestock..
_.
do
Ore
do
Merchandise, 1. c. 1 . .
do
Miscellaneous
do
S-23
August
September
October
November
December
January
February
March
April
AND COMMUNICATIONS—Continued
2,957
455
55
179
166
32
245
281
3,204
540
56
186
219
29
369
268
1,537
2,964
397
50
172
236
25
378
257
1,450
4.022
678
64
238
254
38
473
347
1,930
3,153
1,544
3,883
626
71
217
215
41
438
346
1,929
127
96
175
144
117
58
231
44
146
132
106
182
143
124
58
315
45
148
133
105
176
151
158
52
328
43
146
128
94
162
147
166
46
341
42
141
134
112
162
153
142
55
331
44
146
129
Total, adjusted
__
do
96
Coal
do
178
Coke
.
_
do
144
Forest products
do
133
Grain and grain products
-do
66
Livestock
do
237
Ore .
.
...do ...
44
Merchandise, 1 c. 1
do
148
Miscellaneous
_
do
Freight-car surplus and shortage, daily average:
58, 597
Car surplus, total
number..
5,584
Boxcars
_
._ .
do
43, 375
Gondolas and open hoppers..
do
1,501
Car shortage, total _
_
do.
602
Box cars
do
341
Gondolas and open hoppers
do
Financial operations:
Operating revenues total
thous. of dol ••1905,623
Freight
_ .
do __ ( i 765, 794
67, 093
Passenger
do
••2673,719
Operating expenses
. do
Tax accruals, joint facility and equipment rents
thous. of dol. .. •• 130, 395
101, 509
Net railway operating income--.
...do
77, 241
Net income t
do ..
Operating results:
52, 570
Freight carried 1 mile
mil of ton-miles
1.523
Revenue per ton-mile
.
cents
2,499
Passengers carried 1 mile, revenue
millions .
130
106
183
137
141
65
237
45
146
128
105
179
145
155
60
212
43
142
123
94
167
146
138
60
213
42
139
40, 222
12, 461
16, 278
2,269
1,385
527
25, 302
7,511
7,400
4,129
3,111
673
901, 634
763, 046
66, 880
680, 508
2,797
485
47
168
188
47
179
259
1,423
2,413
1,526
4,024
668
63
222
279
76
377
359
1,980
137
114
162
148
147
78
324
45
150
135
110
160
144
157
108
263
45
149
124
104
155
142
137
86
160
43
140
130
112
169
145
131
58
221
44
145
126
114
164
137
131
59
216
43
139
126
110
163
136
157
70
172
44
137
32, 717
2,315
23, 982
3.934
3,400
246
21,134
2,761
9,715
2,486
1,769
525
11, 074
1,710
1,202
3,546
2,530
924, 362
776, 260
75, 342
688, 949
925, 949
773, 517
79, 704
701, 399
125, 733
95, 393
74, 420
135, 740
99, 673
79, 232
56,296
1.429
2,490
9,238
6,036
3,202
2,462
421
37
158
173
24
63
253
1,332
2 412
1,279
2,967
584
49
175
208
37
80
286
1,548
1,325
2,445
378
31
157
162
31
79
253
1,356
108
97
142
120
112
56
62
38
124
108
100
126
122
124
56
58
38
122
107
87
116
128
122
43
55
40
126
105
78
105
126
117
51
51
41
125
108
79
96
127
118
55
88
40
128
122
104
155
145
140
69
172
42
134
117
97
135
135
119
58
201
40
132
120
100
120
136
124
58
231
39
133
117
87
109
133
124
54
222
41
134
112
78
104
126
41
132
110
79
98
127
134
62
91
39
130
7,173
730
1,609
4,346
3,326
25, 326
3,381
16, 656
1,388
1, 125
85, 062
17,637
56, 383
153
126, 957
33, 501
79, 358
366
130, 775
21,318
98, 605
200
915
167
119
15
136, 335
22,908
100, 848
261
953
247
20
112, 442
22, 045
78, 680
465
330
22
181
6
245
0
924, 754
773, 524
76, 799
689, 467
904, 263
763, 094
66, 111
673, 210
934, 304
794, 329
62, 747
693, 896
832, 363
702, 006
61, 766
657, 496
815,400
661, 347
74, 531
697, 038
749, 826
617,122
69, 994
626, 806
722, 334
602, 716
57, 437
586, 934
802 534
674, 217
58, 546
629, 993
765 963
637, 994
59, 645
611,773
130, 122
94, 428
71,988
133, 651
101, 636
81, 526
131,112
99, 942
80, 493
133, 076
107,331
87, 679
96, 310
78, 526
58, 960
40, 445
77,917
72, 108
90, 446
32, 574
17, 594
90, 983
44, 418
21,545
102,912
69, 628
48, 864
94, 149
60, 041
55, 194
1.474
2,830
53, 746
1.509
3,106
57, 490
1.416
2,965
54,039
1.470
2,514
57, 276
1.453
2,367
49, 763
1.466
2,297
45, 166
1.520
2,770
46, 107
1.411
2,635
43, 047
1. 459
2,129
46 190
1.509
2,191
9,895
6,613
3,282
9,574
6,695
2,879
9,943
6,755
3,188
9,552
6,702
2,850
9,793
6,699
3,093
9,388
6,488
2,900
8,654
5,776
2,878
8,069
5, 657
2,412
3,182
1,256
3,153
1,064
3,265
1,045
3,236
1,029
3,265
1,056
2,934
1,004
3,115
1,058
3,104
3,587
1, 020
3,159
952
969
2,901
111
3, 533
946
3,409
977
7.14
78
264
6.51
77
274
7.04
77
270
6.71
71
239
7.44
73
250
7.26
7.49
7.53
6.75
6.96
80
7.04
262
71
60
6.75
7.43
76
256
231
242
75
74
243
247
232
73
251
69,358
86, 172
46, 568
32, 979
57, 560
599
69, 711
85, 632
48, 792
36, 071
53, 901
1,030
83, 504
112, 186
50, 154
39, 496
44, 057
2,439
101, 430
119,703
55, 838
43, 029
36, 929
4,004
123, 344
91, 919
56, 963
42, 878
26, 472
4,040
116,023
69, 703
62, 355
41, 839
23, 999
2,005
83, 717
56, 746
52, 454
35, 906
21, 103
1,102
67,611
50, 160
44, 460
31, 127
18, 351
64, 038
55, 462
43, 379
35, 332
21, 398
59, 348
64, 303
41, 127
26, 556
29, 069
296
286
76,011
76 910
44 005
30, 565
53, 990
58, 430
434
62, 290
68 680
34 617
24, 835
34, 695
364
395
696
9,132
656
8,622
693
9,120
656
8,652
627
8,268
614
8,076
644
8,447
593
7,760
612
783
8,010
K), 278
620
621
8,151
8,160
380 115
225, 848
125, 153
385, 809
228, 180
128, 219
386 901
228, 995
128, 304
388 856
227, 324
131, 298
383, 186
225, 723
126, 940
385, 576
228, 827
125, 827
399 936
234, 531
133, 915
395 803
235 545
128, 289
410, 793
240, 455
137,870
399, 014
238, 752
127, 521
388 373
235 457
120 348
410 977
241 184
136 479
262, 177
47, 354
42, 670
278, 219
47, 103
42, 850
267, 821
47, 586
42 956
279, 484
43, 386
43 105
266, 141
46, 779
43, 234
272, 718
44, 997
43, 387
276, 315
50, 474
43, 582
271,313
50 842
43 750
289, 333
52, 273
43, 963
271, 649
50,381
43 915
264 804
48 323
44 040
287 136
48 277
44 188
17, 710
15, 187
1,734
17, 977
15, 835
1,346
18, 401
15, 802
1,820
17,617
16, 332
528
17, 221
15, 709
17, 233
15, 477
1,070
17, 340
15, 543
1, 157
15 872
14, 570
17,991
15,721
1,668
15, 795
14,818
164
15 255
13 873
816
593
17 525
15 074
1 628
2,276
1,846
229
2,257
1,855
194
2,315
1,777
333
2,344
1,946
180
2,370
1,803
355
2,574
1,820
522
2,609
1,951
428
2,487
1,836
442
2,892
1,946
704
2,480
1,862
390
2 485
1 839
2 860
1 876
433
731
2,545
2,106
299
2,480
2,100
249
2,550
2,130
288
2,533
2,174
232
2,420
2,139
164
2,471
2,092
2, 586
2,168
2 403
2,097
2,711
2,381
2 435
2,166
2 346
2 069
249
301
194
226
134
2 647
2 211
144
311
532
49
176
198
40
361
271
451
43
150
155
32
68
236
383
34
156
166
28
58
261
111
64
177
Waterway Traffic
Clearances, vessels in foreign trade:
Total U S ports
thous of net tons
Foreign
do
United States
do
Panama Canal:
Total
. .
thous. of long tons
In United States vessels
_ _„
do
Travel
Hotels: ."
Average sale per occupied room
dollarsRooms occupied
. percent of total
Restaurant sales index same month 1929=100..
Foreign travel:
U S citizens* Arrivals
number
Departures
do
Aliens* Arrivals*
do
Departures*
do
Passports issued . _ . _
... d o
National parks, visitors
thousands
Pullman Co.:
Revenue passenger-miles
millions
Passenger revenues
thous of dol
COMMUNICATIONS
Telephone carriers: 9
Station revenues
Tolls, message
Operating expenses, before taxes
Net operating income
Phones in service end of month
do
do
do
do
thousands
Telegraph, cable, and radiotelegraph carriers:
Wire-telegraph:
Operating revenues
thous of dol
Operating expenses, incl. depreciation
do
Net operating revenues
do
Ocean -cable:
Operating revenues
do
Operating expenses, incl. depreciation
do
Net operating revenues
do
Radiotelegraph:
Operating revenues
do
Operating expenses, incl. depreciation _ _ do
Net operating revenues
do
r
689
72
654
2
Revised.
* Revisions for March 1953: Operating revenues—total, $919,629,000; freight, $779,591,000.
April data include operating expenses amounting to $2,400,000 which are applicable to the months of December 1952-March 1953.
{Revised data for March 1953, $71,992,000.
d*Data for May, August, and October 1953 and January 1954 are for 5 weeks; other months,
4 weeks.
*New series. Compiled by the U. S. Department of Justice, Immigration and Naturalization Service. Data relate to the arrivals and departures of aliens, by sea and by air, between ports
of the United States and noncontiguous foreign territory. These statistics do not include border crossers, seamen, military personnel, traffic between continental United States and insular
possessions,
and cruise travelers. Data prior to 1953 will be shown later. (Old series covered emigrant and immigrant aliens only.)
9 Data beginning January 1954 cover 38 companies (those having an annual gross operating revenue of $1,000,000 or more). However, the smaller number of companies continues to account
http://fraser.stlouisfed.org/
or over 90 percent of the annual gross operating revenues of the industry.
Federal Reserve Bank of St. Louis
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
June 1954
1954
1953
April
May
June
July
August
September
October
November
December
February
January
March
April
194, 886
0)
61 201
48 238
227, 830
199, 907
0)
65 499
48 269
227, 040
209, 972
0)
65 321
45 521
227, 955
206, 358
(0
53 554
46 564
206, 337
237, 535
(i)
65 072
50 648
234, 640
232, 246
(i)
60 295
58 994
231,35:
62 396
1, 084
155, 156
1,863
264, 625
61 351
1,539
148, 261
1 742
263 010
424 112
8 525
278 210
404 856
10 507
276 481
58, 458
49, 144
70, 787
64, 569
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:!
Ammonia, synthetic anhydrous (commercial)
short tons. . 188, 173
276
Calcium arsenate (commercial)
do
68,391
Calcium carbide (commercial)
do
51,
823
Carbon dioxide liouid gas and solid
do
235, 596
Chlorine, gas...'
_.
do
192, 424
216
69, 703
66, 194
241, 177
65, 270
65, 890
Hydrochloric acid (100% HC1)
do
1,444
964
Lead arsenate (acid and basic)
do
134, 352
141, 444
Nitric acid (100% HNOs)
do
2.182
2,197
Oxygen (high purity)
mil of cu. ft
210, 153
218, 427
Phosphoric acid (50% HsPOf)
short tons
Soda ash, ammonia-soda process (98-100%
432, 747
438, 427
Na2COs)
short tons
9,234
10, 534
Sodium bichromate and chromate
do
278, 970
288, 216
Sodium hydroxide (100% NaOH)
do
Sodium silicate, soluble silicate glass (anhydrous)
57, 708
54, 037
short tons__
Sodium sulfate, Glauber's salt and crude salt cake
79, 776
78, 422
short tons..
Sulfuric acid:
1, 206, 913 1, 257, 882
Production (100% H2SO4)
do
Price, wholesale, 66°, tanks, at works
20.00
20.00
dol. per short ton..
Organic chemicals:
Acetic acid (synthetic and natural), production
40, 688
42, 105
thous. of Ib
67, 380
71, 065
Acetic anhydride, production
do
1.342
1,278
Acetvlsalicylic acid (aspirin), production do
Alcohol, ethyl:
r
44, 685 r 43, 399
Production
thous. of proof gal
74, 492
78, 581
Stocks, total
_dc
In industrial alcohol bonded warehouses
55, 022
54, 872
thous. of proof gal..
19, 470
23, 709
In denaturing plants
__ -do
r
34, 422
35, 640
TJsed for denaturation
do
r
2, 115
2,030
Withdrawn tax-paid
do
Alcohol, denatured:
'T 18, 496 r 19, 231
Production
__. thcus. of wine gal
23, 132
21, 845
Consumption (withdrawals)
do
r
r
8 814
10, 253
Stocks
do
12,386
14,015
Creosote oil, production
thous. of giL.
6,004
7,. 423
Ethyl acetate (85%). production
thous. o f l b . .
Glycerin, refined (100% basis) :
High gravity and yellow distilled:
7,380
6 993
Production
do
7,092
6,787
Consumption
do
15,912
15, 660
Stocks
do
Chemically pure:
13, 276
14, 331
Production
do
7,897
7,698
Consumption
do__ _
24, 049
21, 323
Stocks
do
Methanol, production:
192
204
Natural (100%) t
thous. of gal
12, 469
12, 553
Synthetic (100%)
do
17, 519
18, 181
Phthalic anhydride, production
thous. of lb_.
185, 194
n)
65 371
77 859
235, 153
185, 515
0)
69 603
83 907
241, 110
193, 932
(i)
66 498
82 948
238, 619
195, 484
(\\
64 860
73 793
228, 826
198, 556
o
65 562
58 615
239, 360
63 342
62 463
63 425
64 936
66 494
134, 227
2 035
198, 325
140 268
1 QQ2
195 728
144, 624
2 125
214 732
145 824
2 034
202 463
159 421
2 114
222 797
64 029
(i)
157 485
1 933
204 545
62 806
278
164 122
1 891
196 946
62 362
1 026
161 134
1 908
248 636
57 666
1,063
152,456
r
1 765
234 740
390 988
11,414
277 495
408 351
10 177
282 175
414 642
10 273
274 676
395 8Q6
8 363
260 747
408 829
8 580
276 413
394 01 5
7 954
262 119
378 658
7 752
260 651
371 6^2
8 126
967 083
370 311
7 810
240 529
44, 433
41,270
44, 436
48, 050
64, 740
52, 489
43, 957
46, 608
49, 184
78, 818
75, 609
77, 869
78, 067
81,479
79, 857
72, 868
71, 468
70, 615
(i)
822
0
1 163,791 1 155 529 1,131,309
o
(i)
1 115 524 1,210,900
ft
1 207 586 1 166 96
T
r
1 182 419 1 092 447 1 223 9361 189 694
22.35
22.35
22. 35
22.35
22.35
22.35
22.35
22.35
22.35
22.35
40, 219
74, 568
1,117
48 871
82 359
959
44, 546
75, 406
1,111
40 595
72 051
1 071
36, 579
62, 567
1,298
36 515
49' 075
1 056
39 760
51 786
987
38 979
51 863
28 804
47 823
r I
r 1 213
39,012
48, 469
1,192
40, 645
72, 518
39 034
75 501
31 934
71,878
28 995
65 274
29, 033
58, 565
30 245
56 514
26 312
54 152
27 II 9
51 403
53,812
18, 706
r 37 475
2 206
53, 731
21,770
36 557
2 106
50,364
21,514
35 ?46
1 944
47, 978
17, 296
33 538
2 91 o
41, 108
17, 457
34 685
1 538
38, 322
18, 192
35, 762
18, 390
97 SSO
Qfi9
33, 204
18,199
28 122
982
19 649
a 20 890
o 5 575
11,448
7,343
19, 058
17 861
6 803
13, 683
4,995
18 083
18 317
6 552
12, 272
7,356
18, 781
17, 109
8 230
12,114
6,478
17 057
15 149
17 451
6 412
11, 485
5,859
15 213
16 210
5 421
10, 208
5, 909
7 653
6 265
17 999
r
) 181
6 037
16 5^1
5 235
6 400
15 834
1 fi con
7 783
6 498
6 103
6 883
15 384
5 7QQ
5 630
12 234
0 021
25 774
10 747
8* 536
25 580
12 797
8,899
25 813
11 322
8 877
24 605
15 966
9 618
26 142
r
r
20, 126
r 23 311
6 844
13, 570
8,200
a
189
12, 683
18, 059
146
165
139
14 326
2o[ 375
13, 861
19, 659
13 603
18* 459
203
o-i coo.
1fi ^80
13, 533
5,165
7 1 °.*\
1 °,fi
6
17 9^Q
105
32, 594
46, 976
35 465
44 347
28, 138
19, 452
26, 183
20, 794
33 664
978
24, 978
19, 368
33 676
644
14 171
18, 176
17 206
7 637
14, 792
6,000
18 172
18, 43P
7, 37?
6 325
5 820
6 804
5 576
19 084
5 013
6 340
18 823
14 099
9 647
28 941
13 113
9 229
29 259
172
14 580
20, 277
-
nQ
orvo
ceo
IR, i 42
8 718
Oc
-I A A
97 RRQ
2 743
8 706
28 645
13 Q74
18 848
173
165
14 151
19' 133
164
12 459
21 409
429
471
029
173
967
2362
248 717
7 023
223 316
6 831
2399
302 167
38 206
252 284
7 325
2
512
211 68^
180 810
4 590
253 288
214, 608
65 277
13 062
11 271
126
13 941
16, 235
v 22. 35
9,852
3,018
1
r 19 215
FERTILIZERS
Consumption (12 States)§
thous. of short tons..
Exports, totalj
short tons
Nitrogenous materials
do
Phosphate materials}!
do
Potash materials
._ __ _
-do
1,863
227, 068
14, 628
201, 527
6,734
230, 296
5,650
214, 016
6,101
311 892
7 367
295 012
5,463
272
6
254
5
139
425
^57
507
2
228
296, 632
5 484
277, 369
6,913
2
304
237 215
5 063
212 130
7 958
Imports, totalt
-do
Nitrogenous materials, total..
do
Nitrate of soda
do
Phosphate materials! do
Potash materials
_ -do._
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
port warehouses
dol per short ton
Potash deliveries
_. _ - _
short tons
Superphosphate (100% A.P.AOd1
Production
_ _ short tons
Stocks end of month
do
422, 303
335, 003
88, 419
11, 527
40, 955
300, 172
239, 833
92 119
5,080
13, 819
244 935
200, 676
86 555
10 978
10 423
168 940
132, 082
19 489
8 434
14 686
166, 587
133, 866
22,949
8,694
9,288
179 010
139, 272
7 561
7 813
10 732
207 352
142, 088
152 784
112,153
19 907
21 597
8 783
18 320
183 504
143, 369
45 769
9 553
20 864
57.00
183, 982
57 00
142, 816
57 00
108 479
57 00
130 815
57 00
133, 370
53 00
132 2°8
53 00
117 982
53 00
123 839
53 00
125 933
53 00
155 234
215, 197
163, 678
196, 945
181 727
164 600
214 636
151 444
231 501
160, 579
243, 112
160 518
247 530
168 338
245 537
157 845
168 768
281 348
183 643
306 774
910
426
2
307
15
274
6
o
on 009
9f>9 701
2
1 111
6 519
207, 263
196 283
' 1, 772
273 388
16 766
242 731
10 444
338 283
259, 781
89 083
3 725
33 633
53 00
261 059
r 227 694
r 234 936
p
g3 QQ
221 146
214 269
I Q K oin
NAVAL STORES
Rosin (gum and wood) :
Production, semiannual total
drums (520 Ib.)
Stocks, end of period
do
Price, gum, wholesale, "WG" grade (N. Y.), bulk
dol. perlOOlb..
Turpentine (gum and wood) :
Production, semiannual total
bbl. (50 gal.)
Stocks, end of period
do
Price, gum, wholesale (N. Y.)dol. per gal. _
3 772, 130
3 860, 090
8.60
927 010
911, 120
8.60
8.35
8.45
8.60
8.70
817 950
828, 080
8.75
8.85
9.00
9.00
9.00
9.00
"8.75
3 233, 940
297 270
240 580
3 229, 150
213 770
196 910
.60
.60
.59
.59
'.59
.59
.59
.59
.61
.61
.60
.60
».6Q
*• Revised.
» Preliminary.
i Not available for publication.
2 Data for 10 States, excluding Indiana and Missouri.
3 Revised data for March 1953.
tRevisions for 1952 (also 1951 for ammonia and hydrochloric acid) will be shown later.
SStates represented are: North Carolina, South Carolina, Georgia, Florida, Alabama, Tennessee, Arkansas, Louisiana, Texas, Oklahoma; prior to August 1953, also Indiana and Missouri.
According to quarterly reports from Virginia and semiannual reports from Kentucky, consumption in those States is as follows (thous. short tons): Virginia—1952—July-September, 90; OctoberDecember,
100; 1953—January-March, 319; April-June, 322; July-September, 79; October-December, 80; 1954—January-March, 305; Kentucky—1952—July-December, 225; 1953—January-June,
AC/*
453.
cfPrior to the October 1953 SURVEF, data were shown in short tons of 18% A. P. A. (available phosphoric acid).
» Revisions for July 1952 (units above): Production, 19,047; consumption, 17,456; stocks, 9,126.
SURVEY OF CURRENT BUSINESS
June 1954
S-25
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April
May
June
July
1954
August
September
October | Nobveerm'
Deeember
February
January
March
April
CHEMICALS AND ALLIED PRODUCTS—Continued
MISCELLANEOUS
Explosives (industrial), shipments:
Black blasting powder
thous. of lb_.
High explosives
do
Sulfur:
Production
thous. of long tons__
Stocks
do
634
63, 170
553
64, 562
503
64, 765
579
61,167
754
68, 135
918
('.7, 850
1,000
70, 924
971
62 886
480
3,001
455
2,867
419
2,920
424
2,960
451
3,037
416
431
3,057
469
3, 059
3 023
3 022
437
3 090
3 170
331, 952
125,007
443, 138
311,131
126, 654
431, 798
300, 366
116,414
413,191
291, 364
101,330
380, 414
276, 369
107, 346
318, 383
282, 060
121, 630
280, 903
334, 269
135, 312
249, 836
367, 294
129, 469
252 586
362, 958
128 535
264 848
354, 916
124, 832
269 246
309, 854
123 883
257 901
52, 056
34, 996
105, 854
52, 336
33, 926
105, 053
50, 838
32, 625
99, 715
46,140
23, 966
106, 866
45, 152
31,879
103, 388
43, 702
30, 324
102, 327
47, 945
36, 705
91, 557
51 774
35, 930
86,410
48 359
29 443
81.970
49 251
27, 084
83, 322
47 667
29 878
74, 698
1,844
11,443
47, 180
8, 000
12, 989
46, 731
18, 087
10, 672
46, 797
27, 357
11,148
51, 287
28, 839
10, 246
74, 408
30, 052
12,035
90, 397
15,939
12, 762
92, 126
2 933
11,138
79 383
5 296
9 302
72 711
840
9,070
68 768
457
525
415
458
369
446
322
378
379
426
451
476
618
559
581
569
599
536
1,074
1,044
1,052
1,072
1,077
912
925
959
1,095
943
1,052
1,050
1,083
997
1,148
15, 467
60, 054
2,481
57, 573
18, 942
44, 941
2,336
42, 604
15, 915
89, 294
2,644
36, 650
19, 163
34, 838
1,194
33, 644
24, 499
30,146
2,826
27. 320
18, 622
32, 396
2, 193
30. 203
34, 728
33, 438
2,028
31,410
31,031
17, 729
38, 517
25, 546
18, 786
18, 883
29, 421
14,416
25, 243
23, 958
15, 997
22, 263
28. 337
72, 839
29, 498
17,895
37, 371
39, 520
26, 942
32,318
26, 959
37, 590
29, 970
31,280
26, 372
35, 997
31, 411
41, 591
23, 201
43, 527
23, 063
45, 273
27, 053
39,125
22, 478
41,411
8,809
19,011
38, 685
8,759
9, 896
41,113
7,723
7,079
28
377
614
14
266
361
181,730
178,690
129, 515
i 140, 897
133, 124
115, 605
159, 289
92, 053
18, 144
881, 275
.233
941
54 756
931
55 918
472
3 239
445
3 190
325, 236
133,470
268 342
310. 169
118 886
262 682
46 502
31 977
72, 430
47 681
2S 431
64, 371
371
9 171
46 297
358
10,697
41 170
2 066
13 768
37 ')E>3
595
537
545
523
542
556
475
591
1 256
1 025
1,323
T 995
1 337
r
985
1 329
911
1 300
57, 676
38, 229
8 186
30, 043
80 988
44 439
7 453
36. 986
41,846
29, 458
3 816
25, 642
83
21
2
18
113
315
746
569
119 801
04 502
1 368
23, 134
33, 743
16, 198
29, 423
27 497
13 272
25, 371
27 066
12 504
27 274
30 074
15 715
34, 128
23 030
15
130
9
6 475
29 646
12 569
26 231
27 480
8 181
37, 129
31, 763
43, 066
28, 843
35, 028
25 938
35 294
26 569
38 337
27 982
99 498
26 618
38 415
37 407
35 863
32 939
45, 597
27,318
47, 498
29. 108
46, 845
27, 356
42 548
23, 010
42 673
22 369
43 428
22 544
45 550
27 788
57 539
33 455
50 243
30' 309
41, 803
8,732
8,013
37. 393
9,019
11, 774
46, 250
9, 540
10, 975
53, 116
11, 260
12, 258
54, 809
13, 650
17 550
66 970
13 843
15 868
69 403
16 249
13 625
60 680
10 691
6 709
49 372
10 625
7 O1)!
45 345
8 884
44
208
197
113
155
155
276
182
250
1, 323
1,860
1 397
1, 064
2, 146
2 780
2 865
2 390
113
624
1 879
50
*)98
1 339
28
470
891
99, 667
122, 619
75, 673
i 91, 549
371, 321
361, 549
163, 838 i 163 022
340 919
i 109 700
334 973
i 109 229
294 423
i 146 Q87
278 124
i 167 313
219 851
i 177 739
95, 387
84, 671
74, 529
56, 418
55, 418
42, 451
57. 397
37 830
157, 634
89 090
251, 701
134 001
232 230
148 742
234 465
183 105
207 447
184 165
200 632
184 799
161 955
129 705
119,424
79, 258
17,430
916, 453
.233
96, 142
75, 610
19, 744
935, 273
.233
67, 740
68. 663
15, 664
928, 561
.220
59, 998
83 622
16. 724
918, 585
.206
97, 992
S9 270
18, 144
927, 026
. 190
179, 751
221 226
133 253
151 Oil
29, 477
30' 204
966, 498 1,016 037
.204
.211
183 279
131 421
35 314
152 554 1
.201
188 791
141 894
34 600
177? 790 1
.193
197
167
38
166
178 107
176 259
38 113
140 31 5
P. 214
1.061
52 752
1,027
54 621
370
438
1,035
55 303
FATS, OILS, OILSEEDS, AND
BYPRODUCTS
Animal fats, greases, and oils:
Animal fats:
Productiont
thous.of lb__
Consumption, factory
do
Stocks end of month
do
Greases:
Production
do
Consumption, factory
do.
Stocks, end of month
do
Fish oils:
Product ion J
do _ .
Consumption, factory
_ _ _ _ _ _ _ _ _ do
Stocks end of month
do
Vegetable oils, oilseeds, and byproducts:
Vegetable oils, total:
Production crude t
mil. c f l b
Consumption crude, factoryt
do_ _
Stocks, end of month:J
Crude
do_._
Refined
do
Exports
thous. of lb_.Imports totalt
- do
Paint oils
do _ _
All other vegetable oilsj
do . _ _
Copra:
Consumption factory
short tons
Stocks end of month
do
Imports
do
Coconut or copra oil:
Production:
Crude
thous. of lb_
Refined
do
Consumption, factory:
Crude
do
Refined
do.
Stocks, end of month:
Crude
do
Refined
»-_.do
Imports
do
Cottonseed :t
Receipts at mills .
-thous. of short tons. _
Consumption (crush)
do
Stocks at mills, end of month
do
Cottonseed cake and meal:J
Production
.
_._
short tons _
Stocks at mills, end of month §
do
Cottonseed oil, crude:t
Production
thous. of lb_
Stocks end of month
do
Cottonseed oil, refined:
Production t
- - - - do
Consumption factoryt
do
In margarine!
do
Stocks, end of month§J _
do
Price, wholesale, drums (N. Y.)___dol. per lb__
Flaxseed:
Production (crop estimate)
thous. of b u _ _
Oil mills:
Consumption
_ ___.
_ _ _ . d o - ._
Stocks, end of month
do
Price, wholesale, No. 1 (Minn.)
dol. per bu__
Linseed oil, raw:
Production
__thous. of lb_
Consumption, factory
do
Stocks at factory, end of month
do
Price, wholesale (Minneapolis)
dol. per l b _ _
Soybeans:
Production (crop estimate)
thous. of bu__
Consumption, factory
do
Stocks, end of month
do
Soybean oil:
Production:
Crude
thous. ot It)
Refined .
__ _
do
Consumption, factory, refined!
do
Stocks, end of month:
Crude
do
Refined J
do
Price, wholesale, refined (N. Y . ) _ _ _ d o l . per l b _ _
985
1
970
1
86, 379
69, 948
778
510
1
241, 458
112, 687
1
249 924
143 804
200 423
135 286
30 952
1 109 455 1
. 206
2
1,680
2,136
3.84
1,221
2, 063
3.76
1,609
1,449
3.65
1,311
2, 064
3. 50
2,200
1 738
3.56
34, 663
42, 864
626, 180
.152
24, 497
42, 697
599, 768
.150
31, 975
41,131
588, 812
.145
26, 764
45, 511
575, 613
.138
19, 201
44, 764
20, 670
34, 380
17, 291
26, 905
208, 414
198, 287
182, 488
226, 293
175, 291
162, 942
156, 951
103, 952
.208
190, 873
100, 864
.208
2 731
4 7^8
4. 02
2 687
4 173
4.00
2 519
3 183
3.89
57, 003
42 043
556, 874
. 160
39 685
3o 747
531.901
.160
54 974
3r> 655
517, 554
.153
59 087
42 980
481,025
.148
50 439
32 012
464, 289
.140
15, 652
16, 631
21, 284
61, 401
20, 284
61, 710
262 341
20, 758
58, 531
20, 778
54, 485
208 660
200 180
191, 992
173 756
9 9
1 ' 568
218, 495
229 966
214 418
218, 608
219 304
192 662
188, 028
296 320
172 446
163, 834
161 242
82, 103
.166
105 352
69, 052
.170
87 907
62^ 353
.188
88 437
74, 423
.196
12° 091
80, 822
.197
2,849
4 720
3.88
43, 904
49, 644
562, 033
.142
48 842
4n 690
558, 139
. 156
16, 338
18, 865
18, 684
7, 613
190 086
185, 566
166, 319
179 503
155,987
155, 641
166, 767
106, 456
.208
176 495
93, 779
.208
'Revised.
» Preliminary.
'• See note marked "§".
December 1 estimate.
tRevisions for 1952 will be shown later.
§Includes stocks owned by the Commodity Credit Corporation (beginning May 1953 for cake and meal and beginning 1952 for refined oil).
063
032
165
643 1
203
36 813
2 157
5 164
3.93
2 452
1 943
3.85
2
2
237
712
810
718
763
r
r
o Ofjfi
r o
393
3.93
44 4] 9
1 954
1 '359
3.92
466, 099
r
. 145
38 784
37' 349
438, 266
P. 142
18,873
56. 948
1 9, 252
52, 297
42, 876
228 433
191 788
174,010
208 706
186 529
181, 253
91 1 '479
142 947
99, 466
.192
138 111
95, 000
. 185
1 AH Q ^S
T 'J(\
r
'Jf.O
17.649
1 88 570
183,214
98, 46(5
r
. 194
187, 039
98, 418
P . 204
SUEVEY OF CURRENT BUSINESS
S-26
June 1954
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April
May
June
August
July
September
October
November
December
January
February
March
April
124, 242
26, 516
116, 538
23, 867
118,586
21, 219
CHEMICALS AND ALLIED PRODUCTS—Continued
FATS, OILS, ETC.—Continued
Vegetable oils, oilseeds, and byproducts— Con.
Margarine:
Production cf
thous. oflb
Stocks (factory and warehouse) o"
do
Price, wholesale, vegetable, colored, delivered
(eastern U. S.)
dol. perlb._
Shortening:
Production
..thous. oflb.
Stocks end of month
do
93,279
23, 105
89,896
20, 817
103, 203
20, 246
89, 753
23, 366
96, 053
18, 372
114 574
19, 350
136 217
16, 382
107 419
22 021
107 291
21 779
131 959
23, 393
.274
.264
.264
.283
.283
.283
.273
.273
» . 273
178, 279
88,576
180, 323
83, 881
117,808
46, 792
71, 016
124, 765
46,798
77, 967
.284
.284
.274
.274
141, 998
108, 894
118, 229
127,912
106, 815
126, 538
105, 858
113, 700
130, 906
100, 911
152, 322
89, 440
172, 988
84 703
191, 747
75 793
139, 943
93 926
132, 504
92, 000
155, 909
93, 443
thous of dol
do
. do
129, 534
52,035
77, 499
131,004
52,352
78, 652
133, 275
50, 970
82, 305
124,953
48, 641
76,312
121, 687
47, 970
73, 717
119 213
45, 793
73, 420
116 432
46 734
69, 698
98 539
40 709
57,830
92 557
40 217
52. 340
104 632
39 877
64, 755
100 013
39, 915
60, 098
SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:
Cellulose acetate and mixed ester plastics:
Sheets rods and tubes
thous of Ib
Molding and extrusion materials
do
Nitrocellulose sheets rods and tubes
do
Other cellulose plastics
do
3,184
7,044
659
602
3,243
6,073
662
683
3 590
6,770
691
594
2 718
5 349
522
476
2 848
6 259
597
449
3 387
7 393
644
427
3 664
7 478
650
441
2 999
5 803
633
401
3 483
6* 226
631
486
2 747
5 367
563
412
2 816
5 168
598
486
Phenolic and other tar acid resins
.. do__
Polystyrene
do
Urea and melamine resins _ _
__
do
Vinvl resins
do
Alkvd resins
do
Rosin modifications
do
Miscellaneous resins
_ __
do
41, 551
35, 764
18, 498
46, 295
34, 274
8,882
22, 458
38,299
39, 374
19, 856
46, 790
32, 980
8,700
23, 204
37, 633
36, 013
19, 442
44, 884
32, 600
8,480
23, 870
32, 362
32 399
13, 745
40 392
31, 420
10 555
19. 176
35, 299
38 672
16, 347
43 592
28,809
9 899
19, 268
38 266
32 807
17 010
40 381
28 548
8 375
22 055
35 895
28 717
17 635
41 170
31*922
10 161
24 970
PAINTS, VARNISH, AND LACQUER §
Factory shipments total
Industrial sales
Trade sales
_.
32
25
17
39
27
9
26
348
760
839
129
693
627
351
30 265
25 908
16' 955
37 357
30 673
9 543
26* 099
30 842
30 Q4i
17* 646
40 636
28 475
9 661
24 535
r 29
33
10
39
28
11
25
987
376
148
810
587
215
134
T
r
r
3 301
6 257
66?
524
35
37
19
46
32
10
26
652
252
958
303
774
866
381
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total i
mil. of kw.-hr__
Electric utilities, total
do
By fuels
do
By water power
do
Privately and publicly owned utilities
mil. of kw.-hr..
Other producers
do
Industrial establishments, total
do
By fuels
do
By water power _
do. ._
Sales to ultimate customers, total (Edison Electric
Institute)! 9
mil. of kw.-hr_.
Commercial arid industrial:
Small light and power
do.
Large light and power
do
Railways and railroads
do
Residential or domestic
do._ _
Rural (distinct rural rates) -.
-do
Street and highway lighting
. do
Other public authorities
do
Interdepartmental
do
Revenue from sales to ultimate customers (Edison
Electric Institute) % 9
thous. of dol
1 r
41, 510
35, 627
25, 923
9, 705
41, 995
35, 982
25, 695
10,288
42, 733
36, 827
27 732
9,095
43, 927
38 030
29 276
8 755
44, 497
38 497
30 043
8 454
42,
37
29
7
923
038
449
589
43, 751
37 614
30 477
7 137
42,
36
29
6
317
378
471
907
45, 052
39 062
30 395
8 668
45, 478
39 423
30 524
8 899
40, 887
35 211
26 647
8 564
45, 166
38 918
28 998
9 921
42, 857
36 835
26 925
9 910
30, 239
5 388
5, 882
5 426
456
30, 294
5 688
6, 013
5 578
435
31,317
5 510
5,905
5 511
395
32, 209
5 891
5,897
5 563
334
32, 331
6 166
6,000
5 718
282
31,285
5 752
5, 886
5 611
°75
32, 252
5 361
6, 137
5 853
*284
31, 199
5 179
5, 939
5 658
280
33, 480
5 582
5, 990
5 624
366
33, 227
6 196
6, 055
5 664
391
29, 478
5 724
5,676
5 *>Q1
385
32, 719
6 199
6,247
5 781
467
30, 913
5 923
6,021
5 073
448
31,919
33, 040
34, 235
33, 112
33, 032
5 785
15 668
401
8 248
645
367
5 997
15 765
445
9 104
6 104
15 668
459
10 163
r 5^4
019
395
787
47
5 902
15 294
399
9 719
*006
359
792
48
5 794
15 734
439
9 239
663
342
768
53
611 624
596 954
589 223
r
31, 515
r
r
1r
5, 391
15. 761
436
r
8,r 004
850
r
287
r
735
51
553.006
r
31. 165
r
r
r
5, 459
15,r 869
413
r
7, 566
''806
r
269
r 730
53
547, 618
31, 503
r
r
r
5 719
16, 131
394
r
7,r 389
800
r
251
r 754
55
553 129
r
31, 989
r
r
T
6 068
15, 981
380
7,479
1 006
259
T 704
52
r 5(52 032
33, 001
6 ''53
16. 553
371
7, 546
1 180
284
32, 735
56
6 191
16* 286
369
7 651
1 120
309
r
757
52
573 051
r 575 288
T
r 758
T
r
r
r
T
32, 350
5 917
16 178
393
7 833
870
345
r
r
r 7^8
r 7f,2
46
43
394
778
43
r 579 424
r 571 990
589 "05
GAS
Manufactured and mixed gas (quarterly):!
Customers, end of quarter, total
thousands _
Residential (incl. house-heating)
do.
Industrial and commercial
.do..
Sales to consumers, total
mil. of therms.Residential.
.
.. do. .
Industrial and commercial
do
Revenue from sales to consumers, total
thous. of doL.
Residential (incl. house-heating).
do..
Industrial and commercial. . _ _
_ --do-Natural gas (quarterly) :\
Cuplomers, end of quarter, total
thousands .
Residential (incl. house-heating)
do
Industrial and commercial
do
Sales to consumers, total
mil. of therms..
Residential (incl. house-heating)
do
Industrial and commercial
do
Revenue from sales to consumers, total
thous. of dol. .
Residential (incl. house-heating)
do
Industrial and commercial
do
T
6,508
6,049
455
813
485
319
6 434
5 982
450
539
263
268
6 113
5 668
442
759
463
287
111,643
78, 965
31 899
80, 574
54, 049
25 939
107, 700
76, 534
30 416
19, 721
18, 138
1,562
12, 606
3,510
8,541
19, 849
18, 310
1 518
10 502
1.435
8 405
20, 667
19 003
1 640
14 099
4,021
9 114
524, 442
280, 128
232, 779
371, 928
148 604
210, 248
597 998
325 396
255 373
Revised.
*> Preliminary.
1 See note marked " 9 ".
cfRevisions for production (September 1951-September 1952) and for stocks (December 1951-September 1952) will be shown later.
§ Revisions for 1952 appear in the September 1953 SURVEY; those for 1951 will be shown later.
SUKVEY OF CUKKENT BUSINESS
June 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-27
1954
1953
April
June
May
August
July
September
October
November
December
January
5,954
6 176
9,223
5,797
5 162
9,498
February
March
April
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
Production
thous. of bbl__ 'r 8, 172
7, 200
Tax-paid withdrawals
do
10, 721
Stocks, end of month
_
do
Distilled spirits:
12, 116
Production.
_
__thous. of tax gal..
Consumption, apparent, for beverage purposes
thous. of wine gal. . r 15,277
Tax-paid withdrawals
thous. of tax gal-- r 10, 936
886, 502
Stocks, end of month
do
1,469
Imports
thous. of proof gal _
Whisky:
Production
_.
thous . of tax gal _ . r 8,053
Tax-paid withdrawals
- - do_. T 5, 916
731, 665
Stocks, end of month
..
do
1,337
Imports
thous. of proof gal. _
Rectified spirits and wines, production, total c? §
thous. of proof gal— ' 7, 692
6,500
Whisky
.
do
Wines and distilling materials:
Sparkling wines:
249
Production cf
thous. of wine gal
86
Tax-paid withdrawals^1
do
1, 343
Stocks, end of month cf
-- do
39
Imports
- do
Still wines:
1,097
Production cf
.
do
11, 739
Tax-paid withdrawals d"
do
r
179, 568
Stocks end of month cf
do
486
Imports
do
1,561
Distilling materials produced at wineries... do.-..
7,791
7, 119
10, 902
r
r
r
r
7,232
r
5 612
730, 838
1,504
r
7,990
r
6, 708
9,905
9,210
11, 104
9,458
8,905
11, 005
8,339
8,757
10, 013
7,606
6 941
10, 091
5,649
5 644
9 830
14.405
7,282
15,375
28, 896
19,754
15, 930
13, 120
16, 387
14,636
14, 024
9,371
873, 616
1,490
16, 341
12,633
867, 166
2,159
18, 731
17, 257
861, 353
2,967
19, 465
16 690
857,234
2 743
22,805
10 479
859, 297
2 207
12, 528
8 650
861, 381
1 336
r
12, 671
10 156
862 917
1 456
15, 736
12 718
864 231
1 529
12 403
864, 016
7,674
5,499
730, 919
1,465
5,680
4,793
729, 729
1,415
3,974
5,241
725, 979
1,350
7,263
7 301
722, 169
1,970
10, 094
9 406
718, 330
2,773
9
9
715
2
435
102
087
524
9,270
5 982
716, 439
1,990
8 301
4 878
717' 441
1 218
9 020
5 315
718 413
1,328
10 029
6 272
718 516
1,395
9 862
5 998
718 726
6,902
5,636
6,248
5,171
8,930
7,740
11, 470
9,964
10, 668
9,455
6,885
5,850
5,533
4 634
5,745
4,834
7,400
6 349
6,605
5 823
r
'
8, 051
r
6, 733
82
67
112
95
148
97
1,427
1,435
46
31
1,448
1,221
r
10, 940
T
169, 665
1,126
9,804
158, 739
876
409
534
7,949
7 Oil
10 680
9,632
151
101
44
7,918
6 607
10 406
14, 306
9,735
878, 764
1,521
11,469
1, 385
r
5,909
5 434
9 605
14,685
r
10, 838
r
881, 81 3
1,594
11,812
16, 138
r
10, 774
r
884, 310
1,636
'
8, 767
r
8, 097
11, 058
30
106
131
96
174
1,416
1,320
1 186
1,052
88
121
17,237
10, 979
149, 723
64, 847
12, 819
206,868
20 755
12, 440
214 956
4 148
12, 966
202 631
45
64
76
197
81
198
99
84
233
69
147
81
1 217
1 272
1 286
1 398
9,120
10, 038
193 413 r 179 769
1 477
12, 353
170 754
1 060
27
23
28
7,098
152,280
453
674
1,679
8,576
143, 810
1,839
4,020
44,669
128, 626
35, 234
4,971
313
322
1,670
1,556
2,128
142, 295
r 346 542
.651
141,305
374 679
.583
115 555
86, 575
450, 299
r 426 049
4 163
126 930
97,400
478, 901
452 030
409
325
425
500
699
707
404
DAIRY PRODUCTS
Butter, creamery:
Production (factory) J_ ._
_
thous. of lb__
Stocks, cold storage, end ol month .
do
Price, wholesale, 92-score (New York) _ _dol. per lb. .
Cheese:
Production (factory), total tthous. of lb
American, whole mllkj
do
Stocks, cold storage, end of month, total... do
American, whole milk
. do
Imports
_;
do
Price, wholesale, American, single daisies (Chicago)
_
dol. perlb
Condensed and evaporated milk:
Production , case goods :J
C ondensed (sweetened ) -._ .
thous . of lb _ _
Evaporated (unsweetened)
do.
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened)
thous. of lb__
Evaporated (unsweetened)
do
Exports:
Condensed (sweetened)
. do
Evaporated (unsweetened)
do
Price, wholesale, U. S. average:
Evaporated (unsweetened)
dol. per case..
Fluid milk:
Productiont mil. oflb _
Utilization in mfd. dairy products
do
Price, dealers', standard grade... -dol. per 100 lb_.
Dry milk:
Production.^
Dry whole milk.
thous. oflb..
Nonfat dry milk solids (human food)
do
Stocks, manufacturers', end of month:
Dry whole milk _
_
do
Nonfat dry milk solids (human food)
do
Exports:
Dry whole milk _ . _ __
do
Nonfat dry milk solids (human food)
do
Price, wholesale, nonfat dry milk solids (human
food), U. S. average
dol. per lb..
133, 995
149, 876
.659
156, 550
193, 609
!658
157, 010
257, 447
.656
138,085
309, 894
.656
119, 645
334, 853
.661
96, 730
323, 077
.670
92, 375
311, 574
.682
90,765
290 598
.676
108, 240
281 702
.666
118, 465
294 047
.659
115, 910
304 233
'.658
118, 535
92, 625
262, 606
231, 524
4,503
149, 075
118, 645
313, 276
279, 886
4,944
151,415
121, 645
373, 855
339, 812
4,183
128, 460
102, 000
420, 281
385, 445
2,121
114, 330
88,730
445, 575
410, 733
2,824
97, 500
72, 450
460, 488
426 383
5,540
87, 775
61,505
448, 787
416 095
3,602
82 390
56,230
432, 325
400 983
7' 186
91 175
63. 225
432, 008
401 168
5' 860
98 735
72, 135
427, 464
397 990
2 233
97 190
70, 810
424, 657
396 344
3 162
.407
.408
.406
.405
.405
.407
.424
.427
415
403
393
383
375
4,425
243. 500
5,285
323,000
3,775
327,900
2,710
262, 400
2,390
228, 500
2,300
170 000
3,000
162 200
3 175
152 500
1 800
155 700
2 350
163 600
1 875
156 900
2 150
194 900
2 480
243 100
7,849
262, 601
8.688
365, 232
9,579
475, 333
7,041
511,683
6. 066
524, 007
5,123
481, 196
5,248
410, 255
6,047
339, 808
4,897
262, 913
4,753
192, 760
4,784
127, 681
4,997
102,638
5,353
127, 497
1,969
8,827
2,718
13, 439
539
14, 848
2,916
11, 957
937
10,449
1,085
13,997
658
11,337
128
14, 427
747
6,119
46
8,215
62
13, 228
56
11, 397
r
5.96
5.92
5.79
5.76
5.81
5.79
5.80
5.85
5.82
5.76
5.73
5.69
5.44
10, 910
4,522
5.05
12, 637
5, 435
4.92
12,449
5,492
4.87
11,603
4,742
4.99
10, 624
4,146
5.05
9,306
3,374
5.15
8 878
3,174
5.20
8 359
3,062
5.23
8 907
3, 505
5.18
9 172
3,796
5.11
8 980
3,711
5.03
10 713
4,514
4.96
11 345
4,746
4.76
8,750
129, 600
9,450
154, 750
9,375
144, 300
10, 050
114,750
10, 050
91,900
8,620
67, 050
9,000
65,150
8,420
68,290
7,970
94, 250
6,360
103, 350
6,165
102, 300
6,175
131, 650
10, 525
138,350
13, 402
129,097
14,907
154, 021
14,423
156, 892
13,560
131, 826
14,110
114, 632
11 512
84, 421
11 716
67, 925
11 316
67, 893
10 220
74, 094
9 602
81, 056
8 510
88, 377
7 g29
85, 449
8 692
83,435
3,824
8,073
3, 394
7,832
2,920
5,131
4,378
14, 323
6 105
7,801
3 648
3,676
3 014
4,854
3 004
15, 357
4 844
7,004
1 584
18, 674
2 671
15, 802
20, 107
.153
.149
.147
.146
.146
.147
.148
.152
.153
.152
.151
.149
2,290
3,278
1,535
1,377
655
279
306
128
180
706
r 3 717
29,444
r 2 567
25, 331
i 92 584
r 2 796
19, 894
14, 943
Citrus fruits, carlot shipments
no. of carloads..
11, 346
Frozen fruits, stocks, cold storage, end of month
thous. of lb._ 441,235
Frozen vegetables, stocks, cold storage, end of
month
..thous. oflb.. 384, 285
Potatoes, white:
Production (crop estimate)
thous. of bu._
Shipments, carlot
no of carloads
19 499
Price, wholesale, U. S. No. 1 (New York)
dol. per 100 lb..
4.013
1
' Bevised.
» Preliminary.
December 1 estimate.
12, 371
12,383
' 12, 595
456, 980
361, 217
2 QOfi
.146
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu._
Shipments, carlot _
no. of carloads
Stocks, cold storage, end of month. _thous. of bu._
509
7,887
' 8, 982
6,582
6,948
5, 890
' 6, 851
487, 259
568, 132
602,001
580, 867
581, 706
571, 762
384, 292
468, 377
573, 601
688,353
737, 427
722, 109
r
19 171
25 201
15 744
11 860
15 797
r 1 7 Rfifi
r 14. 7KC
4.085
2.917
2.230
3.165
3.060
3.325
3.313
uiavraio \>t uijf ioo^-J.»xar. A»uoy, / ,»OA, O,'*»i, J.1.»WO, 1O,OO1, 1^,010, JU,/UU, J.U,O^O, y,WOZ, 12,190, SLOCKS ^JUly lyOZ-lvia
9 ^^7
9 1 1Q """**•-""-T
10,679
6, 095
~ ~ ~ ~"
3, 256
10, 145
9,270
' 10, 655
11,129
568,905
593, 592
635, 626
r
605, 956
601,984
704, 586
630,201
562, 581
r
510, 944
459,968
i 373 711
_—
20, 402
18, 870
2.981
2.981
3.050
r
23, 925
r
3. 081
19,836
'3.502
distilling materials produced at wineries-—(1952) July, 1,723; Aug., 6,930; Nov., 55,637; Dec., 17,327; Feb. 1953, 785.
§Data beginning July 1953 exclude production of wines and vermouth; for July 1952-June 1953 such production totaled 88,000 gallons.
.{Revisions prior to December 1952 are available upon request as follows: Beginning 1951 for cheese, condensed milk, and nonfat dry milk solids; beginning 1952 for butter evaporated
milk, and dry whole milk. Revisions for January-December 1952 for fluid milk production are shown in corresponding note in the March 1954 SURVEY.
vapuntwu
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
June 10.14
1953
April
May
June
July
August
1954
September
October
November
February
December
January
31, 072
25, 483
19, 855
24, 986
23, 469
i 241,015
8,860
March
April
FOODSTUFFS AND TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal
thous. ofbu..
Barley:
Production (crop estimate)
do
Receipts, principal markets
do
Stocks, domestic, end of month:
Commercial
do
Exports including malt
do
Prices, wholesale (Minneapolis):
No 2 malting
-- dol. per bu__
No 3 straight
do
Corn:
Production (crop estimate)
mil of bu
Grindings wet process
thous ofbu
Receipts principal markets
do
Stocks, domestic, end of month:
Commercial
do
On firms
mil ofbu
Exports including meal
thous. of bu
Prices, wholesaleNo 3 white (Chicago)
__
dol. per bu..
No 3 yellow (Chicago)
do
Weighted average, 5 markets, all grades — do
38, 366
30, 837
33, 838
37, 322
31, 996
35, 075
30, 780
8,161
7,479
6,527
8,037
25, 503
15, 698
11,510
8,235
7,555
5,960
9,070
12, 188
12, 222
1,064
960
2,209
14, 631
148, 842
2,478
12, 609
1,096
6,949
25, 567
1,018
3,865
1.538
1.446
1.531
1.387
1.440
1.265
1.420
1.236
1.511
1.374
1.479
1.344
11, 406
19, 601
11, 134
20, 621
11, 033
24,690
9,772
24, 231
10, 629
25, Oil
29,840
21, 740
9,459
12,512
15, 774
995.3
11, 939
10, 218
8,833
ti, 381
1.573
1.557
1.600
1.578
1.546
1.522
4,714
4,854
11, 740
10, 828
286
.782
8,613
12, 386
8. 566
7,594
11, 085
10,277
416
422
8,833
74 883
526
7,119
2,175
12,659
107 770
951
1.516
1.417
1.515
1.438
1.513
1.436
1.520
1.474
1.509
1.441
1.483
1.374
1.505
1.396
10, 769
25, 234
12, 438
52, 068
10,515
48, 836
i 3, 177
10, 240
18, 424
10, 021
21, 389
10, 232
25. 032
11,466
24, 741
11,127
22, 798
9,365
329. 6
10, 469
23, 072
45, 703
35, 338
13, 146
6,860
8,045
33, 786
1 , 468. 8
7,703
21, 704
13, 512
43. 106
2, 138. 5
10. 808
38, 221
8,741
P)
1.579
1.511
P)
1. 603
1.550
1.618
1.658
1. 568
1.561
1.461
1.443
1.491
1.448
1.439
1.563
1.530
1. 553
1.521
1. 655
1.553
1.495
0)
1. 560
1. 502
0)
1. 571
1.504
7,780
17, 033
24, 375
8,784
5,908
6,187
i 1,216
8, 131
18, 348
22,945
18, 453
452
327
27, 122
984, 324
305
22, 908
328
11, 958
2 220, 067
327
296
310
.772
.752
.760
.770
.743
.752
.742
2
2
Oats:
Receipts principal markets
_ _. thous. ofbu..
Stocks, domestic, end of month:
Commercial
- -- ..do
Exports including oatmeal
do
Price, wholesale, No. 3, white (Chicago)
dol. per bu..
Rice:
Production (crop estimate)
thous. of baers9-California:
Receipts domestic rough
thous. of lb
Shipments from mills milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of month
_ _. _
thous. of lb..
Southern States (Ark., La., Tenn., Tex.):
Receipts, rough, at mills
.--thous. of lb..
Shipments from mills milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis) end of month
thous. of lb
E xports
do
Price, wholesale, head", clean (N. O.).dol. perlb..
Rye:
Production (crop estimate)
_. -thous. of bu._
Receipts principal markets
do
Stocks commercial domestic, end of month do__
Price, wholesale, No. 2 (Minn.)
dol. per bu..
Wheat:
Production (crop estimate), total
On farms
Exports total including
Wheat only
_
-_
flour
--
do
do
do
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
dol. per b u _ _
No. 2, hard winter (Kansas City).
do_.
No 2, red winter (St Louis)
do
Weighted avg., 6 markets, all grades
do
4,660
4, 886
4,602
15, 066
13, 406
4,750
136
192
8, 648
450, 335
363
.794
.814
.788
.781
.792
149, 459
125, 900
135, 181
104, 782
118. 669
78, 605
84, 516
66,150
1
72, 663
76, 436
96, 375
63, 242
78, 020
55, 941
79, 454
49, 364
48, 063
48, 982
44, 537
49, 517
6,282
8,169
106, 741
9,937
147, 581
15, 567
131, 382
6,261
84, 077
450, 783
127, 449
370, 233
113, 180
.124
235, 052
62, 057
.124
111, 633
63, 625
.124
29, 640
125, 925
.124
188, 443
56,803
.093
1,488
3,373
1. 614
1,201
3,627
1.516
502
3,630
1.388
1. 136
3,755
1.268
1,916
4,288
1. 249
13.815
54, 191
154,646
122, 947
25, 917
27, 035
79, 993
r 280, 246
268, 135
251, 841
211, 909
205, 929
239, 783
2 562, 535
2 239, 330
28, 151
24, 725
19, 934
16, 149
2 183, 328
2 58, 408
2 73, 105
17, 554
13, 371
2.529
2.387
2. 270
2. 529
2.558
2.355
2. 145
2.530
2.492
2.036
1.793
2.265
52, 529
129, 132
79, 990
13, 388
4,953
194, 685
54, 068
9,373
83, 259
72, 152
86, 161
65, 802
55, 934
59, 246
54, 741
950, 658 1, 227, 523
315, 693
212, 755
520, 281
250, 994
180, 844
204, 667
171, 225
243, 252
133. 848
169, 918
84, 161
161,955
36, 832
100, 069
572, 192 1,040,286 1,112,950 1, 000, 652
207,046
153,150
245, 765
113, 178
.094
.094
.093
.085
859, 670
189, 258
.094
770, 187
200, 503
.093
654, 571
155, 677
.093
573, 654
i 17, 998
1,713
11,028
1.287
292
11, 002
1.313
433
10, 309
1.249
231
9,811
1. 151
20,715
20, 883
r 22, 028
205, 870
368, 888
366, 412
328, 623
320, 777
354, 795
1, 128, 300
316, 458
2,663
6,240
1.156
924
5, 923
1.226
4,877
6,008
1.249
mil. of bu__
Winter wheat
do
Receipts, principal markets
thous. of bu.._
1) isappearance
do
Stocks, end of month:
Canada (Canadian wheat)
do
United States domestic totaled
do
Commercial
- do
Interior mills, elevators, and warehouses
thous. ofbu ..
4, 542
18, 295
778,541
462
i 1, 168. 5
i 291. 0
i 877. 5
18, 403
' 209, 412
103, 118
38, 907
40, 988
189. 883
32, 871
31, 822
267, 564
287, 303
339, 156
351, 632
305, 420
1,541 569
359, 213
324, 932
342, 428
352, 932
344, 218
377, 855
1, 333, 255
333, 815
26, 529
23,081
20,719
18,911
458 641
134 477
563. 569
21. 824
19, 066
13, 107
9,524
15, 441
12, 112
424, 292
123, 467
424, 057
13, 262
9,679
2.443
2, 086
1.808
2.202
2.474
2.175
1.822
2.439
2.514
2.217
1.899
2.533
2.621
2.288
1.882
2.562
2.623
2.337
2. 015
2.578
2.601
2.375
2.051
2.596
"r 12, m
-9,610
~~~I6~327~
13, 824
379, 232
104,778
297, 873
14, 877
11, 677
2.577
2.379
2.194
2.537
2.576
2.393
2.226
2.570
2.602
2.417
2.327
2. 545
p. 091
* 19, 818
667
8,953
1.116
* 701. 1
19, 660
348, 139
295, 060
2.620
2.447
2.210
2.589
Wheat flour:
Production:
17, 361
18, 064
17, 721
17, 377
18, 962
18, 747
18, 871
17, 972
18, 355
17, 217
18, 204
20, 799
Flour
thous. of sacks (100 lb.)
19, 469
73.5
81.7
88.6
75.6
76.6
78.8
77.6
77.0
81.1
83.8
88.2
73.5
86.7
Operations percent of capacity
344, 61 1 376, 594
342, 515
357, 154
348, 002
380, 153
371, 608
362, 741
339, 250
394, 122
366, 297
365, 199
424, 380
Offal
- short tons
40, 222
40, 168
'40, 969
43, 971
43, 729
43, 410
41, 833
42, 571
41, 836
39, 874
42, 263
45, 393
48, 501
Grindings of wheat
thous ofbu
Stocks held by mills, end of quarter
4,093
4,470
4,476
4,589
thous. of sacks (1001b.)._
1,074
1,471
1,480
1,624
1,195
1,795
1,184
1,538
776
Exports.
.
do
1,373
1, 429
1, 537
Prices, wholesale:
Spring, short patents (Minneapolis)
r
5.935
5.980
5. 925
5. 550
6. 390
6. 335
dol. per sack (100 lb.)..
6.100
6. 250
6.500
6.355
6. 470
P6.398
f 6. 355
5.675
5.675
5.150 i
6.095
5. 275
6. 060
Winter, hard, short patents (Kansas City)_do
5.855
5.935
5.525
5. 950
6.120
» 6. 032
6. 055
T
Revised.
»
Preliminary.
-1
December
1
estimate.
2
3
4
Old crop only; new grain not reported until beginning of new crop year (July lor barley, oats, and wheat: October for corn).
No quotation.
May 1 estimate.
9Bags of 100 lb.; prior to the October 1953 SURVEY, data were shown in thous. of bu. of 45 lb.
cf The total includes wheat owned by the Commodity Credit Corporation and stored off farms in its own steel and wooden bins; such data are not included in the breakdown of stocks.
SURVEY OF CURRENT BUSINESS
June 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-29
1953
April
May
June
July
August
1954
Se
!
^erm~
October
November
December
January
February
March
Apri4
FOODSTUFFS AND TOBACCO— Continued
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
- - thous. of animals. .
Cattle
- do
Receipts principal markets
do
do
r Shipments feeder, to 9 corn-belt States
Prices, wholesale:
Beef steers (Chicago)
dol. per 1001b-_
Steers, stocker and feeder (Kansas City) --do
Calves vealers (Chicago)
do
Hogs:
Slaughter (federally inspected)
thous. of animals. .
Receipts principal markets
do
Prices:
Wholesale, average, all grades (Chicago)
dol. per lOOlb..
Hog-corn price ratio
bu. of corn equal in value to 100 Ib. of live hogSheep and lambs:
Slaughter (federally inspected)
thous. of animals. _
Receipts principal markets
do
Shipments, feeder, to 9 corn-belt States
do
Prices, wholesale:
Lambs, average (Chicago)
dol. per 100 l b _ Lambs, feeder, good and choice (Omaha) -.do
541
1,371
2,019
161
504
1,345
2,055
160
586
1,450
2 440
184
616
1,498
2 258
211
602
1,494
2 559
265
687
1, 644
2 770
446
776
1 782
3 095
' 773
658
1 609
9 997
643
634
1 653
9 342
286
546
1 541
9 245
206
518
1 302
1 844
184
660
1 51!
2 320
220
598
1, 417
2 040
*>17
21. 50
19.91
25 50
21.83
19.80
27 50
21.73
15.22
19 50
24.26
16.75
23 00
24.79
15.78
23 50
25.41
15.07
21 00
25. 35
15. 74
22 50
24.83
17.56
22 00
23. 65
17. 63
22 50
23.93
19.83
27 00
22.96
20.02
28 00
22. 88
19.81
26 00
23. 77
20. 62
P 26 00
4,325
2,358
3,643
2,031
3,607
2,119
3,276
1,837
3,396
1 867
4, 059
2 169
4,994
2 665
5.540
2 950
5, 194
2 721
4,712
2 503
3,883
9 098
4, 554
2 450
3, 853
9 068
21.88
23. 54
23.24
23.29
22.97
24.18
21.54
20.80
23. 69
24.82
25.45
25. 63
26.75
'14.4
15.5
15.5
16.5
15.9
15.9
15.9
15.0
16.2
17.3
17.7
17.2
18.3
1, 100
1,115
99
1,015
1 147
131
1,055
1,108
102
1,108
1, 159
136
1, 158
1,483
291
1,366
1 822
547
1,529
2 026
754
1,159
1 412
'292
1,227
1 182
185
1,241
1 190
197
1,090
1 03^
175
1,149
1 128
188
1, 096
1 203
202
24.00
25.12
0)
25.50
C1)
25. 38
17.94
23.38
17.78
19.25
15.57
19.00
16.41
19. 25
18.22
19.25
18.00
20. 62
19.14
21.25
20.26
24. 25
21.44
27. 75
22. 31
1,649
1,537
1,617
1, 579
1,525
1, 675
1, 913
1, 941
1,952
1 . 836
1,517
1,772
1,609
929
55
818
50
749
46
638
50
532
50
460
40
460
36
593
59
716
60
761
45
755
57
»"732
33
697
826, 083
234 891
1 794
812, 729
210 274
1 965
859, 894
190 408
2,848
877, 290
163 626
3,073
860, 476
153 672
2,973
925, 007
159 376
2 273
994, 342
183 864
9 942
897, 620
215 352
13 685
939, 793
3 040
895. 446
886, 182
828, 596
MEATS
Total meats (including lard):
Production (inspected slaughter)
mil. of lb_Stocks (excluding lard), cold storage, end of month
mil.oflb.Exports
do
Beef and veal:
Production (inspected slaughter)
thous. of lb._
Stocks co^d storage end of month
do
Exports
do _ Price, wholesale, beef, fresh, steer carcasses, choice
((-,00-700 Ibs ) (New York)
dol. per lb_Lamb and mutton:
Production (inspected slaughter)
thous. of lb-_
Stocks cold storage end of month
do
Pork, including lard, production (inspected
slaughter)
thous. of lbPork, excluding lard:
Production (inspected slaughter)
do
Stocks cold storage end of month
do
Exports
-do
Prices, wholesale:
Hams, smoked composite-.dol. per lb_Fresh loins, 8-12 Ib. average (New York) .do
Lard:
Production (inspected slaughter)
thous. of l b _ _
Stocks, dry and cold storage, end of monthf-do.-.Exports
- - _ _
do
Price, wholesale, refined (Chicago) ..dol. per lb._
761, 153
917 8Q1
91 Q O09
r JgQ 3f',O
1 067
5 848
840
m
9KQ
.382
385
.387
.426
.432
451
431
424
431
396
392
OQg
52, 458
17 493
46, 755
14 720
44, 558
13 461
47, 324
10, 410
49, 401
9,460
57. 474
10 113
64, 856
10 762
51, 566
11 151
57, 079
12 232
59, 522
Udfin
53, 274
i n sns
55, 672
r 9 445
52, 190
770, 875
677, 203
712, 978
654, 193
614, 699
692, 034
853, 449
991,497
954 712
881 313
702 169
830 303
797 §39
570, 190
538 025
5,210
502, 422
459 755
6,392
533, 230
414 227
6,768
489, 360
350, 825
6, 694
469,818
265, 981
5,865
531, 761
200 597
5, 176
6481 9115
18 79
4 843
743 793
266 170
4*419
526 049
c47 onn
4 407
628 446
T 4jg 283
3 83?
.592
.523
.619
.567
.650
.576
.683
.597
.675
.570
.623
.513
.638
.541
. 660
.540
146, 255
225, 936
40, 675
. 135
128, 166
200, 621
33, 841
.150
130, 863
169,311
28, 908
.140
120, 175
109,342
33, 193
.163
105, 809
55, 637
34, 505
. 183
116,615
42, 439
24,412
. 233
40 934
140, 371
44 435
123, 485
46 431
117,876
46 075
112,460
46 364
127, 340
56 985
176, 385
710 666
326 098
7 708
.558
. 452
. 657
.509
149, 478
45. 205
19 402
.205
180.413
51, 462
32 857
.193
178, 155
74, 322
38 187
.205
6Q 572
259' 085
79 448
287 153
65 890
275 887
. 544
.516
6 58 66 9
5 1 3fi
. 673
. 550
41 "3* ^07
131, 394
74, 024
.213
147, 106
78, 945
93 3^9
.208
41 189
r 9^7 45g
39, 205
9A1 P>Q9
162,245
75, 525
128, 867
72, 920
.208
oo fifl7
P. 671
.574
OQ CCQ
P. 233
POULTRY AND EGGS
Poultry:
Receipts 5 markets
thous of Ib
Stocks, cold storage, end of month ..do.. _
Price, wholesale, live fowls, heavy type, No. 1
(Chicago) -.
.-dol. per Ib
Eggs:
Production, farm. _ .
millions-Dried egg production -- thous. of lbStocks, cold storage, end of month:
Shell
thous. of cases
Frozen
.-.
-thous. o f l b
Price, wholesale, extras, large (Chicago)
dol. per doz. .
.345
.325
.245
.275
.255
.255
.235
230
250
6, 068
2, 181
5, 846
2,499
5,032
1,903
4,624
2,092
4,329
1,979
4,190
1,441
4 600
1 114
4 784
1 310
5 239
1 242
816
98, 978
1 431
132, 294
1 513
159, 755
1 199
152,835
827
133, 427
494
109, 869
288
86 867
61 014
89
42 030
75
.497
.486
.517
.531
.587
.624
.613
. 543
.479
.472
.450
.403
.380
77, 096
63, 522
56, 041
48, 895
63, 932
104, 262
1 10. 496
109, 988
92,911
85, 262
79, 619
83, 931
74, 768
27, 425
.339
28, 493
.334
26, 164
.346
20, 859
.385
13, 574
.386
10, 587
.403
8, 504
.400
8,026
.449
30, 242
.468
43, 394
.542
27 028
.535
11r 905
. 578
p. 619
999
526
634
2,152
860
411
511
1,256
1,149
685
666
1,278
860
361
531
1,470
1,286
744
582
1,320
1,870
1r 122
812
2,130
1,544
873
628
1,261
1.814
1 164
778
1,848
1, 725
1 055
723
2,489
1,219
662
1 009
2,275
962
539
829
1 913
1, 409
795
1,060
485
.573
.553
.560
.593
.615
.615
.600
.613
.725
.760
.858
34,911
109. 189
47, 314
113.581
75, 903
142. 655
75, 392
169, 686
60, 155
176, 680
45, 034
174. 640
38, 692
176. 047
23, 950
1 76. 249
17, 456
1 54. 570
28, 128
13S dR8
41, 267
5
980
300
4.7ft
6 605
3 140
r Qi 940
718
MISCELLANEOUS FOOD PRODUCTS
Confectionery, manufacturers' salest- -thous. of doL_
Cocoa:
Imports
long tons. Price, wholesale, Accra (New York) --dol. per lb_.
Coffee:
Clearances from Brazil, total
thous. of bags..
To United States.
do
Visible supoly, United States
-do
Imports
do
Price, wholesale, Santos, No. 4 (New York)
dol. per lb._
Fish:
Landings, fresh fish, 5 ports
thous. of lb._
Stocks, cold storage, end of month
__do
T
. 585
34, 244
179. 370
T j 940
p. 870
1 1 9 9SQ
Revised.
*> Preliminary.
1 No quotation.
t Revised series. Compiled by the U. S. Department of Commerce, Bureau of the Census, representing factory and warehouse stocks of rendered and refined lard; data prior to June 1952
will be shown later.
t Re visions for 1952 are shown in the August 1953 SURVEY.
SUEVEY OF CURRENT BUSINESS
S-30
June 1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April
May
June
July
August
1954
September
October
November
December
January
February
March
April
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS—Con.
Sugar:
»
Cuban stocks, raw, end of month
thous. of Spanish tons..
United States:
Deliveries and supply (raw basis) :
Production and receipts:
Production
short tons
Entries from off-shore
do
Hawaii and Puerto Rico
do
4,676
4,364
3,908
3,218
2,658
3,078
2,083
1,737
1,607
2,437
3,316
4,341
59, 948
854, 355
248. 129
12, 283
530, 430
235, 756
51, 262
628, 878
180, 490
26 860
607, 226
234 674
37, 059
614, 988
182, 958
117 506
563 878
237 561
643 637
461 177
238 494
812 373
254 321
97 620
473 347
117 126
61 688
137 932
320 741
52 886
57 480
507 709
108 657
r 27 365
522 494
147 957
762 870
287 257
592, 655
591, 073
1,682
599, 440
597, 627
1, 813
790, 640
779, 785
10, 855
886 890
885, 1 68
1 722
778, 556
777, 391
1,165
844 285
842, 829
1 456
641 490
639 991
1 499
580 278
574 693
5 585
801 571
800 569
1 002
503 522
501 513
2 009
557 664
554 289
2 375
r 822 900
r 821 930
1,392
685
1,423
9,095
1,312
14.326
1,103
11,473
966
21, 879
851
526
1, 186
303
1,691
3 897
1,693
' 596
1,668
631
1,612
745
»• 1, 479
276
341, 705
274, 851
62, 594
328, 791
93, 039
390, 371
221, 650
162, 388
339, 220
238 565
91,880
330, 805
266, 009
64, 421
321, 374
201 899
92, 486
180,291
118 650
56, 920
140, 910
86 401
45 512
157 648
118 711
38 640
275 725
938 950
36 267
305 487
236 902
66 165
363 956
289 575
81 336
55, 961
48 433
54, 782
46; 720
40, 271
40, 226
38, 937
37 178
47, 760
44, 598
27, 116
26 437
2,057
250
4 220
301
20 151
13 694
35 595
29 570
54 938
50 062
dol. per Ib
.064
.064
.064
064
.064
.064
064
061
060
060
061
063
P 062
dol. per 5 Ib
dol. per Ib
thous. of Ib
.495
.086
11 141
.495
.086
7,943
.495
.086
9,215
498
.500
.087
7,766
.502
.087
10, 364
503
500
085
497
AQ7
498
499
086
v 086
Deliveries total
do_
For domestic consumption
- do
For export
do__
Stocks, raw and refined, end of month
thous. of short tons, .
Exports
short tons
Im ports :cf
Raw sugar, total
- do
From Cuba
do
From Philippine Islands
_do_. .
Refined sugar, total
From Cuba
Prices (New York) :
Raw wholesale
Refined:
Retail 9
Wholesale
-.
Tea imports
-->
' 4, 619
.- ._
do
do
TOBACCO
Leaf:
Production (crop estimate)
mil. o f l b _
Stocks, dealers' and manufacturers', end of quarter total
mil. oflb
Domestic:
Cigar leaf
do
Air-cured, fire-cured, flue-cured, and miscellaneous domestic
.. _.
mil. oflb
Foreign grown:
Cigar leaf
-do
Cigarette tobacco
_. __
do_
Exports, including scrap and stems
thous. of l b _ _
Imports including scrap and stems.
do
Manufactured products:
Production, manufactured tobacco, total- .. do
Chewing plug and twist
do
Smoking
-do
Snuff
do
Consumption (withdrawals) :
Cigarettes (small):
Tax-free
-.million^
Tax-paid
-do _
Cigars (large), tax-paid!
thousands..
Manufactured tobacco and snuff, tax-paid §
thous. of lb__
Exports cigarettes
_
_.
millions
Price, wholesale, cigarettes, manufacturer to
wholesaler and jobber, f. o. b. destination
dol. per thous..
T
r
225, 582
.086
7 506
.087
9 491
132
'085
8 760
6 851
r ]
' 4, 036
085
10 004
970
' 085
11 580
573 526
570 685
2 841
1,668
503
10 783
2, 057
4, 225
513
4 539
'368
340
319
379
3,472
3, 703
3 995
3 967
18
178
18
163
18
181
18
183
50, 103
7,961
35, 903
8,788
33, 263
9,578
24, 649
7,662
32, 121
9, 268
68. 694
10 475
56, 183
9 269
52, 327
8 549
68, 538
7 582
30. 390
8 125
19,019
7 875
21, 715
q 133
18,326
6, 935
8.064
3,328
17,806
7.246
7,494
3, 066
18,170
7 347
7. 430
3, 393
15,999
7 194
6,301
2, 504
17,814
6 879
7,569
3, 367
18, 833
7 239
8,302
3, 281
19,273
7 473
8,424
3, 376
16, 170
6 808
6 307
3 055
14. 735
5 978
5 373
3 384
1 5. 502
6 796
5 549
3 157
15,561
6 389
6 079
3 093
18, 476
6 865
7 °00
3 71 1
2,703
31,607
477, 520
2,658
30, 587
507, 629
3, 130
33, 304
501,499
3,339
29 914
463, 787
2,770
34, 658
497, 670
3, 585
33, 598
518, 748
2,813
34 860
540, 124
3, 53 5
30 338
547, 704
3, 534
29 141
443, 532
2 700
28 858
401,693
r 2 638
26 676
406, 5(50
17, 887
1, 331
17, 488
1,482
17,812
1.119
1 5, 862
1,321
17, 539
1,158
18, 103
1,535
18, 580
1 178
15, 825
1 241
15, 213
1 416
14, 997
1 274
14,688
1 183
IS, 079
] 254
3. 938
3.938
3. 938
3.938
3. 938
3. 938
3.938
3. 938
3.938
3. 938
3. 938
3.938
9, 372
54
50
1,839
2, 158
2 865
32 295 v 2 31 099
476,514 P 2 481, 645
v 2 17, 675
3.938
LEATHER AND PRODUCTS
HIDES AND SKINS
Imports, total hides and skins
thous. oi lb__
Calf and kip skins
thous. of pieces, _
Cattle hides
-do
Goat and kid skins _ _. . _
_do
Sheep and lamb skins _
_. - d o _ _ _
Prices, wholesale (Chicago) :
Calfskins, packer, heavy, 9^/15 lbs._ dol. per lb._
Hides, steer, heavy, native, over 531bs
do
18, 407
123
31
3,055
4. 466
. 513
.138
18, 166
253
21
3,032
3, 826
. 613
.153
20, 258
268
47
2,731
4.240
15,807
187
91
3, 168
1,893
13, 646
188
26
2.121
2,760
15.353
150
41
2,666
2,680
10. 934
208
40
1,726
1. 157
9,454
47
23
2,364
1,230
8,770
81
36
2,034
1,033
8. 232
123
20
2, 051
1 , 087
7,436
59
77
1,550
898
.625
.150
.513
.158
.513
.170
.500
.170
.400
.148
.468
.153
.438
.123
.413
.120
.413
.103
LEATHER
Production:
827
849
Calf and kip
.
thous. of skins
871
685
790
804
839
724
846
801
791
r
r
r
r
1, 999
Cattle hidet
thous. of hides..
2, 140
2,117
1,815
1, 978
2, 079
"1,894
1, 904
1, 953
1,978
2,015
r
r
r
r
T
r
r
2,
924
Goat and kid t
thous. of skins. _ rT 2, 981
3,
122
2,
821
2,354
2,
566
2,262
2,
240
2,
101
2,
350
2,330
r
r
r
r
r
r
r
r
r
Sheep and Iambi _.
.do
2, 656
2, 468
2, 563
2, 139
2, 590
2, 439
2, 407
1,669
2, 189
1, 870
'1,820
Exports:
Sole leather:
Bends, backs, and sides
thous. o l l b
23
65
24
23
52
67
51
21
26
57
Offal, including belting offal
do
55
21
53
75
73
56
63
29
68
39
23
Upper leather
thous. of sq. ft..
4, 002
3, 959
2,840
3, 383
3,492
2,825
2,996
2,929
3,159
3, 160
3.438
Prices, wholesale:
Sole, bends, light, f. o. b. tannery
dol. p e r l b _ _
.725
.720
.690
.690
.680
.690
.670
.675
.665
.660
.655
Upper, chrome calf, B and C grades, f. o. b. tan1.042
1.125
1.127
1.082
1.042
1.007
1.002
nery
dol. per sq. ft..
.998
. 985
.998
.948
r
Revised.
*> Preliminary.
1
2
December 1 estimate.
Based on stamps sold to manufacturers.
cf1 Revisions for 1952 are shown in the April 1954 SURVEY.
9 Data for January-June 1953 represent price for New York and Newark; thereafter, for New York and Northeastern New Jersey.
§ Revised to represent data based on number of stamps used by manufacturers: revisions prior to May 1952 will be shown later.
{Revisions for January-March 1953: Cattle hides (thous. hides)—2,128; 2,014; 2,024; goat and kid (thous. skins)—2,805; 2,712; 3.178; sheep and lamb (thous. skins)— 2,240:
r
.413
-108
p . 413
p. 108
762
2, 118
2. 732
2,219
27
29
2, 733
.660
' . 660
.950
r , 943
2,399: 2,354.
SURVEY OF CUREENT BUSINESS
June 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-31
1954
1953
April
May
June
July
August
September
October
November
December
January
February
March
r
April
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers:
' 45, 268
Production total
thous of pairs
By types of uppers:
35, 837
\llleather
___do
9,431
Part leather and nonleather
do
Shoes, sandals, and play shoes, except athletic,
total
thous. of pairs. _ ' 40, 493
By kinds:
8,979
Men's
- do_ _ _
1,474
Youths' and boys'
do_
Women's
-- do__ _ '21,065
5, 436
Misse*?' and children's
do . .
3,539
Infants' and babies'
_
do
4,271
Slippers for housewear
do
279
Athletic
.
do
225
Other footwear
do
353
Exports
-. - do
Prices, wholesale, f. o. b. factory:
Men's and boys' oxfords, dress, cattle hide
110.3
upper Goodyear welt
1947-49=100
Women's oxfords (nurses'), side upper, Good117.1
year welt
1947-49=100...
110.7
Women's and misses' pumps, suede split, .do
41, 858
40, 824
40 297
42 804
39 902
40 121
33 522
38 200
r 40 098
r 41 328
47 170
42 306
31, 987
6 213
33 333
6 760
33 873
7 486
'r 37, 944
9, 226
33, 109
9 197
r 43, 357
38, 336
36, 979
35, 790
34, 972
36, 539
33, 376
33,183
28,011
34, 389
37, 460
38, 391
8, 532
1, 574
18, 490
5,139
3,247
4,375
8,136
1,595
18, 161
5,077
2,821
4, 533
7,560
1,637
18, 687
4,603
2,485
4,790
269
266
313
7,963
1,696
19, 077
5, 107
2,696
5,697
296
272
421
7,670
1 457
16, 602
4 883
2,764
5 981
283
262
446
8,006
1 390
15, 690
5 130
2, 967
6 407
273
258
419
6 801
1 124
12 921
4 363
2 802
5 039
'262
8 087
1 362
16 490
5 3^6
3 064
3 305
7 851
1 470
19 472
5 465
3 202
2 123
239
7,625
1 455
20 717
5 439
3 162
2 419
247
239
411
280
224
348
258
243
253
210
330
290
216
251
r 276
8 367
1 711
23, 947
5 713
3 619
' 3 263
' 266
284
370
r 271
7 857
1 543
21 096
4 756
3 084
3 376
275
319
110. 3
110.3
110.3
110.3
110.3
110 3
110 3
110 3
110 3
110 3
110 3
110 3
117.5
110.7
118.1
110.7
118.1
110.7
118.1
110.7
118.1
110.7
118. 1
1.10. 7
117.5
112.3
117.5
112.3
117 5
112.3
117.5
112.3
117.5
112.3
117.5
112.3
70 262
233 515
LUMBER AND MANUFACTURES
LUMBER— A L L TYPES
Exports total sawmill products
M bd. ft
Imports, total sawmill products
_.
do
National Lumber Manufacturers Association:©
Production total
mil bd ft
Hardwoods
do_. _
Softwoods
do
Shipments, total
- do
Hardwoods
do
Softwoods
- do
Stocks, gross (mill and concentration yards), end
of month total
mil bd ft
Hardwoods
do
Softwoods
. do
SOFTWOODS
Douglas fir:0
Orders, new
- do
Orders, unfilled, end of month
do. _
Production
do
Shipments _
do
Stocks, gross, mill, end of month
do
Exports, total sawmill products^
M bd. ft..
Sawed timberj
do
Boards, planks, scantlings, etct -do
Prices, wholesale:
Dimension, No. 1 common, 2" x 4", R. L.
dol. perMbd. ft..
Flooring, B and better, F. G., 1" x 4", R. L.
dol. per M bd. ft..
Southern pine:©
Orders, new.
mil. bd. t't.
Orders, unfilled, end of month
do Production
do
Shipments _ _.
_ _ . ._ ... .._ _. _ do
Stocks, gross (mill and concentration yards), end
of month _
... .
mil. bd. ft
Exports, total sawmill products
M bd ft
Sawed timber _
__
_
do
Boards, planks, scantlings, etc
do
Prices, wholesale, composite:
Boards, No. 2 and better. 1" x 6" x R. L.
dol. per M bd. ft..
Flooring. B and better, F. G., 1" x 4" x S/L
dol. per M bd. it..
Western pine:©
Orders, new
mil. bd. ;'t__
Orders, unfilled, end of month
do
Production
. _. .
do
Shipments
do
Stocks, gross, mill, end of month
do
Price, wholesale, Ponderosa, boards, No. 3 common, I" x 8"
dol. per M bd. ft
58, 631
219, 381
53, 192
242, 183
53, 765
270. 350
53 037
253, 021
54 245
246, 389
52 777
253 650
50 919
243 520
48 733
220' 063
54 109
197 952
43 657
135 528
74 200
211 621
3,511
3,271
3 437
3 351
3 429
3 486
3 540
3 078
2 875
2 749
2.815
3,423
2 676
3,228
2 664
3 238
2 696
3 230
2 748
3 252
2 360
2 875
9 9Q7
2 602
2 251
2 079
2 901
680
2 221
2 808
612
2 196
3 35S
' 690
2 668
3 3^3
2 603
2 706
550
2 156
2 106
2 604
2 754
3 310
660
2 649
3 3H7
603
9 784
806
2,826
545
2,726
3,385
704
2,681
7,799
2,801
4.998
7 686
2,642
5,044
1,042
824
895
891
873
999
660
2,851
3,632
963
948
988
980
30, 276
14, 691
15, 585
29, 067
16, 245
12, 822
622
675
688
2,735
765
790
792
718
643
638
2,581
661
2,577
7 700
2, 576
5,124
7 823
2 604
5,219
8 034
2 708
5, 326
8? 290
2 871
5 419
8 577
3' 012
5 565
8 782
3 107
5 675
8 950
3 194
5 756
9 132
3 311
5 821
9 221
3 379
5 842
9 227
3 470
5 757
q 183
3 528
5 655
857
839
889
899
989
18,068
826
878
762
774
977
707
786
780
790
987
795
746
828
822
992
826
715
830
848
974
753
717
758
742
991
798
750
7P)3
757
987
28 161
10 619
17 542
813
777
763
779
863
8P'5
791
778
1 Oil
39 60°)
19 937
19 672
1 033
*865
944
763
941
1 037
898
647
21, 390
12, 528
8,862
7, 138
10, 920
17, 968
7,499
10, 469
627
24, 986
12 993
11, 993
650
24, 422
11 842
12 580
624
21 451
10 505
11 615
526
1
21
8
12
002
440
490
950
82. 845
79. 009
78. 064
77. 252
76. 972
75. 187
74. 347
73. 122
73. 409
73. 395
73. 941
127. 049
126. 396
126. 396
126. 085
126. 085
125. 930
125. 113
123. 978
125. 612
124.950
125. 922
714
673
693
660
623
531
202
651
559
201
684
596
595
680
251
803
739
709
383
830
776
376
754
746
344
767
741
306
764
752
1,709
5,123
1,139
3, 984
1,717
5,262
1,335
3,927
1,743
5,590
1, 126
4,464
1,755
7 981
2,619
5,362
1,770
8 549
287
707
692
269
707
711
237
767
692
810
7,739
1 766
3 952
1 105
2,847
1 841
4 662
1*005
3,657
230
673
630
1 8^4
4 901
l' 098
3,803
5, 060
2 064
3 986
1 268
2.718
1 976
5 700
640
79. 439
78. 748
78. 227
77. 614
77. 703
76. 545
76. 549
75. 665
74. 359
72. 092
156. 604
157.829
157. 523
157. 523
157. 217
156. 298
155. 685
155.379
155. 379
657
410
649
371
714
400
664
355
678
342
722
380
491
547
049
472
366
<?oo
o-i 7
1, 481
1 499
1 557
1 633
' 711
1 704
1 781
1 856
1 OOK
85.00
85.04
84.92
83 26
81 10
76 11
70 84
70 04
351,913
344 257
107, 562
334, 309
335 972
106, 057
345, 269
341 083
110, 662
746
688
761
685
782
767
691
759
6S4
1 5 2So
25 632
' 75. 054
74. 791
125. 922
125. 809
74°
257
693
238
7A1
736
630
156. 604
684
666
1 013
' %1
40 91 7
2 ] 46
2 121
6 380
l' 528
4, 852
80. 487
628
419
963
RR7
158. 748
659
657
5°9
923
4,589
r
72. 271
712
2 i4s
- -_ .
71. 042
' 154. 154 P 152. 844
512
662
1 8<->2
1 77/-i
1, 710
71 71
70 90
673
395
AA.'J
70 65
SOFTWOOD PLYWOOD?
Production
thous. of sq. ft., H" equivalent..
Shipments
do
Stocks, end of month .
. _.
do
281, 542
78 267
113,512
9
i 254, 756
i 2F)3 6*^5
i 113, 871
HARDWOOD FLOORING
Maple, beech, and birch:
Orders, new
Orders, unfilled, end of month
Production
Shipments _
Stocks, mill, end of month
_M bd. ft..
5,075
4,150
4,275
5,250
4,400
3,300
3,975
3,575
5, 150
3, 850
4,200
4, 550
4,350
do
10, 350
10, 450
9.800
10, 050
9,500
8,450
8,100
7,850
9,250
9,300
9,450
10,000
10,450
do
A
~fKf)
3 875
3 500
3 100
4 150
3 950
4 100
3 77K
4,600
3,950
do
4 125
4 050
5 150
4 350
4 300
3 cc;n
3, 750
3, 650
3,825
3,900
3, 950
do
10,600
10, 100
8,950
8,025
7,650
7,650
8,500
8,675
9,
300
9,750
9,850
10,
500
10,
650
1
Series discontinued with August data.
0Revised monthly data (for production, shipments, and stocks; also orders, except for all types of lumber) are available upon request as follows- January 1950-February 1953 for lumber
(all types); January 1952-February 1953 for Douglas fir; January-December 1951 for Southern pine; January 1950-February 1953 for Western pine
{Revision
is for 1952 for exports of sawmill
products will be shown later; those for 1952 for softwood plywood appear in the August 1953 SURVEY.
SURVEY OF CURRENT BUSINESS
S-32
June 1954
19 54
1953
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April
May
June
July
August
September
October
November
February
December
January
68, 178
46, 584
76, 703
73, 924
55, 391
70, 910
47, 688
81, 218
71 221
64, 149
80, 206
54, 743
77, 282
73, 151
68, 289
89, 079
68, 085
75, 518
75, 737
68, 070
99, 618
76, 534
89, 459
89, 853
66, 173
315,967
103, 464
86, 837
1,355
March
April
LUMBER AND MANUFACTURES—Continued
HARDWOOD FLOORING— Continued
OakOrders, new
Orders unfilled end of month
Production
-
_ _ M bd. f t _ .
do
do
Stocks mill end of month
do
84, 222
86, 584
84, 371
88, 359
55, 268
65, 466
77, 419
77, 825
80, 635
52, 458
62, 004
62, 965
79, 466
79, 821
52. 083
73,043
60. 034
81. 390
83. 100
50. 373
74, 238
54, 735
78, 243
79, 537
49, 079
73, 874
52, 885
81,474
79, 581
50, 971
76, 085
50, 082
86,213
84, 572
52, 612
84, 824
74, 554
90, 062
90, 926
62, 495
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfrs.):
Fxports total 9
short tons
Scrap
do~ . - Imports total o
do
Scrap
do
293. 137
17, 417
266, 254
11,255
306, 737
17, 699
261, 581
3, 138
285, 050
19,416
271.910
15,032
251,365
15, 988
318.519
22, 083
235, 664
37. 475
272, 106
18, 669
243, 571
25, 477
241, 726
14, 438
270, 433
30, 041
210 830
7,104
277, 137
36, 065
190 054
9,897
326, 635
51, 953
144 488
2,294
311,926
59, 408
86, 632
1,325
300, 433
66, 790
70, 461
2,016
7, 091
3,825
3, 266
6,974
6, 694
6, 959
3,801
3,157
7, 050
6, 603
6, 451
3, 688
2, 763
6. 665
6, 395
6, 368
3,594
2. 775
6,204
6, 560
6, 644
3, 675
2 969
6.314
6,893
6,174
3,607
2.567
6, 043
7,033
6, 057
3, 693
2, 364
6, 304
6,780
5,700
3,472
2,228
5,672
6,816
5, 588
3,472
2, 116
5, 253
7,152
4, 974
3,241
1,733
5,123
7,004
4, 806
3,040
1, 767
4,912
6,940
' 1, 921
9,971
10, 486
9 516
14, 287
15,002
8 851
15,368
15,663
8, 556
15,719
16, 534
7,739
15, 473
16, 284
6 943
15, 143
15, 457
6 614
12, 290
13,512
5 396
6,392
6, 998
4 goo
3, 183
2, 099
5 877
3,068
1,749
7 041
2,982
1, 653
8,399
3, 117
1,597
9 920
8,404
7 764
21, 572
18, 816
2,757
780
13. 597
8 358
26, 247
23, 198
3,049
966
13. 745
8 056
32, 070
28, 526
3,544
1,125
14, 497
8 239
38, 829
34, 443
4.386
' 1,148
15,237
8 150
45, 579
39, 988
5,591
1,109
13,214
7 699
51,767
44, 612
7,155
1,137
11.538
8 131
55, 699
47,419
8, 280
1,085
5, 300
7 5^2
54, 981
46, 896
8, 085
965
0
7 092
48,815
41, 145
7 671
948
0
6 996
41,974
34, 797
7,178
836
0
5 787
36, 386
29, 661
6, 725
795
95
103
134
127
89
90
134
71
112
110
92
74
1,306
1,277
683
1,272
1,186
642
1, 246
1, 196
648
1,233
1,056
573
1,223
1,069
589
1, 170
1, 106
612
1 076
1,142
650
977
1,004
564
955
1,032
553
872
932
488
865
936
492
842
1,047
553
174, 514
95, 923
57, 757
160. 387
82, 050
48,011
151,016
86, 514
50, 819
137, 251
77,111
45,413
120,801
73, 855
45, 415
114, 523
74, 333
45, 466
104 046
73, 473
45, 515
93, 156
63, 435
37, 500
95 612
72, 126
39, 657
85 565
70, 288
38, 266
81, 579
69, 078
37, 792
74,219
84, 342
47, 125
6,231
6,236
6,587
6,546
6,373
6,251
6,516
6,249
6,472
6, 353
6,202
6,024
6,498
6,421
6,063
5,963
5,779
5 703
5.580
5. 525
4,811
4,809
4, 959
4,892
4,503
v 4, 519
1,876
1,887
1,977
2,298
2,368
2,511
2,527
2,660
2,800
2,764
2,829
' 2, 858
v 2, 841
54. 73
54.50
55.00
54.73
54.50
55.00
54. 80
54.50
55.00
56 22
56. 00
56. 50
56.23
56.00
56.50
56.10
56. 00
56.50
56. 03
56.00
56.50
56. 03
66. 00
56.50
56.03
56.00
56.50
56 03
56 00
56. 50
56.03
56. 00
56. 50
56. 03
56. 00
56. 50
56. 03
p 56. 00
v 56. 50
141,340
107,941
25, 026
135,303
102, 880
24, 108
140, 702
106, 788
25, 354
114,088
84, 945
17,784
123 281
91,017
18, 685
122, 758
93, 577
20, 058
116, 520
88, 699
17, 756
122,310
92 271
15. 502
)74, 1 53
150,512
110,926
i 39, 586
882, 034
153. 173
110,305
42, 868
797, 523
155, 772
112,803
42, 969
740 127
143,239
103, 1 13
40, 126
650, 533
142, 603
98, 915
43, 688
637, 896
138, 926
101, 523
37, 403
539, 194
126, 888
94, 164
32, 724
488, 780
130, 224
95, 529
34, 695
9,406
94
8,883
92
9, 463
95
8, 690
90
7, 946
80
7,951
75
7,083
74
7, 290
69
Iron and Steel Scrap
Production and receipts, total*, thous. of short tons..
Home scrap produced*
- - - - do_ Purchased scrap received (net)*
do
Consumption total
- do
Stocks consumers' end of month
do
5, 103
3, 181
'5, 194
'6,811
v
p
v
p
p
4, 947
2, 992
1,956
5, 187
6, 625
Ore
Iron ore:
All districts:
Mine production
Shipments
thous of long tons
do
Lake Superior district:
Shipments from upper lake ports
Stocks, end of month, total
At furnaces
On Lake Erie docks
Imports
Manganese ore, imports (manganese content)
do
do
do
do
do
5
30,
24,
6,
0
93^
587
553
035
844
1, 525
5,287
26, 142
20, 690
5, 452
Pig Iron and Iron Manufactures
Castings, gray iron:
Orders unfilled for sale
thous of short tons
Shipments total
do
For sale
do
Castings, malleable iron:
Orders unfilled for sale
short tons
Shipments, total
-do
For sale
do
Pig iron:
Production
thous. of short tons.
Consumption
- do
Stocks (consumers' and suppliers'), end of month
thous. of short tons,_
Prices, wholesale:
Composite
dol. per long ton
Basic (furnace)
do
Foundry, No, 2, f. o. b. Neville Island-. do
Steel, Crude and Semimanufactures
Steel castings:
139, 577
165, 649
164, 665
179, 615
Shipments total
short tons
105, 687
125, 984
126,380
140, 051
For sale, total
do
22, 925
29, 552
30, 381
34, 035
Railway specialties
do
Steel forgings:
1, 081, 838 1, 239. 057 1, 135.343 1,080,582
Orders unfilled for sale
do
191, 189
185, 323
155,288
196, 441
Shipments, for sale, total
_ _ . do
112,848
134, 686
132, 580
140,510
Drop and upset
do
52, 743
42, 440
56, 503
55, 931
Press and open hammer
,_
do
Steel ingots and steel for castings:
9,404
9, 276
9, 546
9,997
Production
thous. of short tons
93
100
97
99
Percent of capacity!
Prices, wholesale:
.0524
. 0501
.0513
.0498
Composite finished steel
dol. per Ib
Steel billets, rerolling, f. o. b. mill
2
2
2 72. 00
62. 00
69. 00
59,00
dol. per short ton..
2
2
2 . 0438
. 0413
.0413
.0420
Structural steel, f. o. b. mill
dol. per l b _ _
Steel scrap, heavy melting (Pittsburgh)
39. 50
14. 50
44,00
40.50
dol. per lone ton..
1 c
1
1
.0524
. 0524
.0524
2 72. 00
. 0438
2 72. 00
2 . 0438
2 72. 00
2. 0438
45.50
40.50
36.50
2
. 0524
2
72. 00
. 0438
2
36. 50
. 0524
2
2
72. 00
. 0438
33. 50
. 0524
.0524
2
72. 00
. 0438
2
30. 50
2
72. 00
. 0437
2
28.50
2
2
6,971
68
.0524
.0524
72. 00
. 0437
p 2 72. 00
p 2 . 0437
25.50
p 26. 50
Steel, Manufactured Products
Barrels and drums, steel, heavy types:
4, 393
4, 459
3,901
4,052
3,538
4,804
3, 141
3, 066
4,013
3,748
3, 404
3,238
3,231
Orders, unfilled, end of mouth
thousands
1,975
2,101
1, 681
2,054
2,026
1,848
2,068
2,086
1,600
1 950
1,950
2,003
1 892
Shipments
do
90
71
68
117
123
78
73
94
88
90
81
' 90
67
Stocks, end of month.— ._
do
r
!
Revised.
p Preliminary.
Data beginning August 1953 represent
estimated industry totals based on forge shops whose shipments in 1947 accounted for over 90 percent of total ship2
ments; earlier data are estimated totals based on a different sample.
Data beginning May 1953 represent quotations for a substituted series.
9 Revisions for 1952 are shown in the April 1954 SURVEY.
*New series; compiled by the U. S. Department of Interior, Bureau of Mines. Data prior to 1953 are not available for publication.
|For 1954, percent of capacity is calculated on annual capacity as of January 1, 1954, of 124,330,410 tons of steel; 1953 data are based on capacity as of January 1, 1953, of 117,547,470 tons.
SURREY OF CURRENT BUSINESS
June 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
1953
April
May
June
July
August
195 4
September
October
November
December
January
February
March
April
METALS AND MANUFACTURES—Continued
IRON AND STEEL—Continued
Steel, Manufactured Products— Continued
Cans, metal, shipments (in terms of steel consumed),
total
short tons-.
Food
_
. do .Nonfood
do
Shipments for sale
__
do
Commercial closures, production
millions
Crowns production
thousand gross
Steel products, net shipments:
Total
thotis of short tons
Bars* Hot rolled, all grades
do
Reinforcing
do
Semimanufactures
do
Pipe and tubes
do
Plates
. .. do
Rails
do
Sheets
..
do
Strip' Cold rolled
do
Hot rolled
.
do__
Structural shapes, heavy.
_
do
Tin plate and terneplate
do
Wire and wire products
_.do
304, 638
174, 879
129, 759
255, 795
1,338
27, 772
305, 205
177,976
127, 229
259, 822
1, 307
29, 317
357, 767
220, 481
137, 286
311,575
1,348
31, 605
446, 772
299, 306
147, 466
407, 362
1,281
30, 752
506,215
360, 564
145, 651
457, 387
1,259
29, 155
484, 561
346, 645
137, 916
432, 830
1,226
27, 244
368,917
239, 111
129, 806
329, 545
1,283
24, 746
314, 408
190, 280
124, 128
280, 289
1,097
22, 378
192,403
123,416
68, 987
155.000
1.137
21, 972
264, 708
161,320
103,388
224, 580
1,089
24, 581
260. 053
157,880
102. 173
225, 597
1,207
26, 572
291,063
164, 139
126, 924
251, 751
1,410
31,680
7,162
414
442
447
7,209
873
159
352
828
698
161
2,003
187
214
417
459
449
6 950
843
157
329
847
614
162
1,924
190
210
397
441
426
6 583
794
166
295
801
587
156
1.957
151
161
414
405
328
6 499
750
148
252
778
586
150
1,921
188
195
391
390
378
6 401
723
163
232
833
586
162
1,864
191
192
393
340
349
6 727
758
161
232
864
644
164
2, 003
194
180
442
361
329
5 904
633
140
190
728
609
182
1,768
169
151
443
303
270
5 685
586
125
190
714
633
185
1, 674
140
116
481
266
264
5 728
569
111
169
664
572
178
1,738
123
127
473
411
292
5 365
549
113
165
664
529
178
1.519
113
116
438
393
314
5 584
546
125
161
748
544
166
1,496
112
120
437
475
300
102, 071
355, 895
105, 464
345, 619
104, 152
427, 849
109, 285
390, 184
110, 545
442, 171
109, 333
402, 340
108,219
363, 945
105, 636
400, 077
110,291
434, 958
116.247
438, 392
110, 483
462, 577
122, 339
474, 966
120, 434
838
155
357
880
650
150
2,007
194
206
1,386
31,285
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production primary
short tons
ImDorts bauxite
Ions tons
Price, wholesale, scrap castings (N. Y.)
dol. perlb..
Aluminum fabricated products, shipments,
total
. -_ mil. O f l b _ .
Cast-in
ffs
do
Wrought products, tota!0
do
Plate and sheet©
do
Brass sheets, wholesale price, mill
dol. perlb..
Copper:
Production:
Mine production, recoverable copper
short tons..
Crude (mine or smelter, including custom intake)
short tons
Refined
.
do .
Deliveries, refined, domestic
...do
Stocks, refined, end of month
do
Fxports refined and manufactured
do
Unrefined including scrap 9
do
Refined 9
do
Price, wholesale, electrolytic (N. Y.)-dol. perlb_.
Lead:
Ore (lead content):
Mine production
.
short tons.
Receipts by smelters, domestic ore
do
Refined (primary refineries) :
Production
_.
do
Shipments (domestic)
do
Stocks end of month
__
do
Price, wholesale, pig, desilverized (N. Y.)
dol. per lb__
Imports, total, except mfrs. (lead content) 9
short tons
Tin:
Production, pig§
long tons
Consumption, pig, total§
do
Primary§
do
Stocks, pig, end of month, total§
do
Government §
do
Industrial §
do
Imports:
Ore (tin content)
do
Bars blocks pig" etc
do
Price, wholesale, Straits (N. Y.)
dol. per lb__
Zinc:
Mine production of recoverable zinc short tons..
Slab zinc:
Production .
_
do
Shipments, total
do
Domestic
_.
do
Stocks end of month
do
Price, wholesale, prime Western (St. Louis)
dol. per lb._
Imports total (zinc content^
short tons
For smelting, refining, and export 9
do
For domestic consumption:
Ore (zinc content) 9
__do
Blocks, pigs, etc
do
.0924
.0838
.0936
.1000
.0900
.0900
.0825
. 0996
.1033
.0892
.0875
. 0892
.1037
281. 6
61.6
220.0
129.2
.429
267.3
57.6
209.7
123.6
.429
262.4
56.8
205.6
121.2
.429
254. 4
51.7
202.8
123.4
.429
241.9
50.9
191. 0
117.8
.429
237.8
53.7
184.1
111.8
.417
241.5
55. 4
186.1
113.6
.417
200. 3
51.4
148.9
89.4
.417
201.2
52.0
149.2
91.2
.417
205. 4
51.4
153.9
84.3
.417
196. 5
51.2
145. 3
80. 5
.417
226. 2
56. 2
170.0
93.0
.417
174.2
96.9
P. 417
79, 706
80, 850
73, 635
76, 492
75, 581
75, 442
80, 005
75, 165
77, 019
74, 697
65, 299
r 71, 289
67, 765
93, 197 ' 84, 948
117, 929
127, 294
146, 215
139, 300
52, 762
58,126
8,669
7,278
67, 662
80, 943
32, 059
39, 993
40, 950
35, 6U3
.2968
.2969
88, 063
122, 036
104, 481
77, 100
13, 317
66, 200
48,201
17, 999
. 2969
84, 953
108, 974
106, 985
78, 825
18, OH4
48, 348
32, 087
16,261
. 2961
86, 748
114. 760
104, 886
72, 907
18, 249
57, 676
48, 261
9,415
.2962
92, 435
126, 138
110,519
84, 303
18, 870
51 095
35, 351
15, 744
.2960
85, 724
119, 230
100, 908
93, 274
15, 827
32,414
26,011
6, 403
. 2965
88, 732
123, 296
112,244
89, 193
26, 416
32, 261
19,116
13, 145
. 2967
84,216
111,553
77, 091
108, 121
30, 472
34, 790
20, 533
14,257
.2967
74, 428
103, 496
89,017
118,417
25, 499
55,617
41. 155
14, 462
.2967
95, 890
113, 782
142, 382
48, 382
6, 551
70, 191
39, 309
30, 882
.2990
31,052
31, 557
29, 045
28, 793
28, 349
30, 753
26, 364
27, 339
26, 083
27, 709
26, 474
27, 637
26, 652
27, 934
24, 671
26, 904
27,107
28,812
24, 695
26, 202
27, 443
29, 342
46, 729
39, 487
69, 608
43, 187
48, 914
63, 879
36, 880
44, 140
56, 569
40, 210
35, 652
61,017
38, 022
40, 836
58. 103
42, 154
41, 598
58, 490
44, 741
44, 987
58, 236
52, 562
43, 234
67, 494
48, 687
35, 007
81, 152
48,518
37, 108
92, 496
42, 046
36, 551
97, 981
.1268
.1275
.1341
.1368
.1400
.1374
.1350
.1350
. 1350
. 1326
' 81, 100
117,546
95, 795
125,759
19, 043
43,214
31.961
11, 253
. 2909
r
77, 063
112,617
104. 829
124,523
. 2970
29,316
31,520
26, 660
28, 508
50, 808
47. 837
100, 927
46, 730
47,161
100, 441
.1282
.1294
.1390
51,708
42, 815
43, 612
45, 891
30, 796
41, 234
22. 039
34, 107
39, 873
30, 570
43, 043
46, 957
3,968
7,680
5,192
16, 029
4,402
11, 627
3, 286
7,562
4,985
13, 592
2, 135
11,457
3,245
7,508
4,989
13, 391
1, 935
11, 456
3, 151
6, 580
4,329
16, 932
4, 935
11, 997
2,798
6, 619
4,257
20, 340
7, 536
12, 804
2. 962
6, 855
4, 276
23, 466
10, 436
13. 030
3,011
6,519
4,001
26. 164
13,086
13,078
2,964
5, 826
3,698
28, 460
15, 717
12, 743
2, 986
6,182
3.822
32, 928
18,467
14,461
2, 957
6. 260
4, 060
35. 674
22, 767
12, 907
3,232
6. 350
4, 230
39, 389
26, 646
12,743
3. 804
7, 190
4. 720
38, 204
26, 650
11,554
1,915
7,229
1.0111
2,017
6, 739
.9746
4, 230
5, 495
.9295
2, 798
5,821
.8163
1,214
6, 992
. 8068
1, 910
5, 372
. 8231
2, 376
6,388
. 8085
3,329
5, 067
.8319
3,648
5. 802
.8461
2,781
6, 176
.8483
2.417
3,987
. 8504
1 , 346
5. 383
.9188
51, 103
47, 790
46, 365
42, 305
40, 965
39, 188
38, 771
36, 460
37, 745
38, 852
38, 122
' 41, 252
80, 459
86, 043
78, 211
94, 280
82, 422
84, 250
75, 648
92, 452
81,617
76, 784
72,612
97, 285
80, 825
74, 204
69, 498
103, 906
83, 241
69, 250
65, 450
117,897
81.211
57, 547
55, 167
141, 561
84, 031
67, 175
65, 470
158,417
75, 891
68, 685
63, 617
165, 623
79,116
63, 896
55, 487
180, 843
78, 561
60, 692
54, 865
198, 712
68, 020
66, 738
57, 781
199,994
71,186
70, 080
66, 929
201,100
70, 258
70,618
67, 152
200, 740
.1100
51, 857
. 1100
75, 808
338
.1100
102, 632
143
.1100
66. 834
182
. 1098
54, 950
49
. 1018
53, 446
124
.1000
61, 532
325
.1000
48, 538
2, 831
.1000
73. 246
4,454
. 0976
66. 323
2, 455
. 0938
63. 908
6, 704
. 0964
77. 774
1,264
. 1025
94 78^
47, 708
97 7fi9
64, 206
41, 600
38, 882
42, 062
U 9RO
51, 095
36,198
9 CAQ
58. 352
10 440
52,419
11 449
48, 525
8 67^
61,332
15 1"8
do
1,740
5,310
1,821
6,745
2,477
9 085
2,591
8, 404
3, 345
7,909
3,336
7. 152
3,840
6,327
2,782
5, 980
2, 095
5, 957
2,041
6,126
1.896
6, 292
1, 732
6. 906
number..
do
53, 904
78, 784
64, 173
86, 387
74, 416
86, 635
79, 735
81. 190
95, 622
77, 821
100, 955
67, 613
103, 493
71.687
62,010
65, 238
44. 631
76, 858
44, 966
75, 110
43. 174
'71,251
47, 370
78, 671
473
26, 601
QO HO1!?
f)f
rvco
1 fi 01 Q
.9612
39, 009
HEATING APPARATUS, EXCEPT
ELECTRIC
Radiators and con vectors, cast iron:cf
Shipments
thous of sq ft
Stocks end of month
Oil burners: t
Shipments
Stocks, end of month
r
r
Revised.
v Preliminary.
0 Data beginning January 1954 are based on a more comprehensive survey. Comparable figures for December 1953 (mil. lb.): Total wrought products, 150.7; plate and sheet, 90.9.
9 Revisions for 1952 imports are shown in the April 1954 SURVEY.
§ Substituted series. Compiled by the 17. <S. Department of Interior, Bureau of Mines; monthly data for 1951 and 1952 appear on p. 24 of the March 1954 SURVEY. Government stocks
represent those available for industrial use.
cfData beginning June 1953 are compiled by The Institute of Boiler and Radiator Manufacturers and represent substantially complete coverage
of shipments of cast iron radiators and convectors.
^Revisions for January-July 1952 are shown in a footnote on p. S-33 of the January 1951 SURVEY.
SUKVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
June 1954
1953
May
April
June
July
August
1951
September
October
November
December
January
February
March
April
METALS AND MANUFACTURES—Continued
HEATING APPARATUScf—Continued
Stoves and ranges, domestic cooking, excl. electric:
Shipments, total
number
Coal and wood
do
Gas (incl. bungalow and combination) _ _ _ d o
Kerosene, gasoline and fuel oil
do
Stoves domestic heating shipments total
do
Coal and wood
do
Gas
do
Kerosene gasoline and fuel oil
do
Warm-air furnaces (forced-air and gravity air-flow),
shipments total
number
Gas
do
Oil
do
Solid fuel
do
Water heaters gas shipments*
do
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly:
Blowers and fans, new orders
thous. of dol__
Unit heater group, new orders
do
Foundry equipment (new), new orders, netj
mo. avg. shipments, 1947-49= 100. _
Furnaces, industrial, new orders, net:
Electric processing
thous. of dol
Fuel-fired (except for hot rolling steel)
do
Machine tools (metal- cutting types):
New orders
mo. avg. shipmsnts, 1945-47=100__
Shipments
do
Pumps, steam, power, centrifugal and rotary, new
orders
_thous. of dol
Tractors (except garden), quarterly:*
Shipments totalO
do
Wheel type (excl. contractors' off-highway)
thous of dol
Track laving
do
238, 851
7,420
220, 939
10, 492
137, 623
20,782
72, 366
44, 475
197, 483
5,075
181, 682
10, 726
154 965
25, 503
78,136
51, 326
179, 651
5. 435
167, 070
7,146
216, 485
27, 617
116, 059
72, 809
171,491
5,796
159, 515
6,180
297 809
47, 056
153, 104
97, 649
203, 752
7,006
187,515
9,231
396 268
51, 841
221, 532
122, 895
227, 248
9,636
209, 249
8,363
479, 103
67, 332
239, 419
172, 352
222, 942
7,543
205, 038
10, 361
401 695
55, 517
223, 002
123, 176
176, 297
6.876
159, 270
10, 1 51
244, 688
27, 610
157, 005
60, 073
150, 392
5, 516
134, 904
9,972
97 479
11,028
58, 326
28, 125
151,397
4, 683
137, 768
8 946
88 689
4 471
40, 791
43 427
67, 543
37, 260
26, 812
3,471
211, 405
70, 814
37, 755
28, 297
4 762
185, 873
92, 294
49, 314
36, 296
6,684
172, 243
90, 953
46, 939
38, 318
5 696
170, 356
109, 172
54, 014
47, 210
7,948
159, 730
126, 181
59, 736
56, 280
10, 165
171, 779
121,467
58, 374
53, 203
9 890
185, 388
86, 578
43. 137
37, 895
5, 546
148, 855
64, 285
33, 495
27, 984
2 80f>
135, 054
57, 192
30, 927
23, 862
2 403
161, 152
41, 863
16,912
52, 711
14, 831
T
168, 062
6 110
«• 153, 515
8,437
74 542
6 117
33, 364
35 061
r
57, 217
30, 505
24 267
2 445
171,490
p
203, 570
5,627
188, 521
9,422
92 979
6, 746
44,231
42, 002
69, 280
39, 870
26, 827
2 583
184. 043
48, 591
13, 661
43, 197
16, 699
' 112.0
' 182. 7
M56.8
M59.2
" 236. 3
127.7
"57.2
••150.0
••161.2
173.8
99.9
82.7
125. 3
1,796
3,017
1,799
2,609
2,095
2,550
2,241
1,983
1,711
5,454
834
3,003
1,531
1,868
1,166
1,690
909
1,624
1, 356
1,832
994
1,686
2,042
1, 119
1, 262
1,711
276.8
372.7
246.4
356.0
273.4
342. 2
247.3
267.6
286.9
299*6
223.7
328.3
198.7
348.4
146. 6
320.2
149.8
301.4
173. 5
319.4
159.8
323.1
r 169. 6
p 142. 6
" 302. 6
7,758
4, 629
5,690
5,533
4,886
4, 845
5,097
4,634
4, 645
4,057
r
327. 2
285, 078
206, 541
149, 094
173 955
175 667
93, 086
112, 025
84,615
76 524
66, 201
105 302
60. 207
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), ship2,004
1,245
1,455
ments
thousands
Domestic electrical appliances, sales billed:
88.3
95.7
80.5
Refrigerators indexf
1947-49—100
268, 548
197, 506
252, 404
Vacuum cleaners, standard type. __
number
313,
005
294,
960
295,
393
Washers
do
1, 158, 936 1, 108, 991 11,163,831
Radio sets, productions. _ .
-do
Television sets (incl. combination), production§
481, 936 i 524, 479
number. . 567, 878
Insulating materials and related products:
Insulating materials, sales billed, indexf
174.4
189.1
173.9
1947-49=100
Fiber products:
Laminated fiber products, shipments©
11, 322
10, 299
10, 268
thous. of dol_ _
Vulcanized fiber:
4,701
4,673
4,452
Consumption of fiber paper
thous. of Ib
Shipments of vulcanized products
1,882
1,870
1,999
thous. of dol_ _
28,551
25, 519
23, 646
Steel conduit (rigid), shipments*
thous of feet
Motors and generators, quarterly:
186.3
New orders indext
1947 49—100
Polyphase induction motors, 1-200 hp:1
46, 319
New orders
thous of dol
45, 863
Billings
do
Direct current motors and generators, 1-200 hp: 1
8,821
New orders
thous of dol
10, 064
Billings
do
2,852
2. 173
1,890
1,788
1,422
87.4
159, 446
233, 191
674, 459
62.2
46.4
35. 2
62.6
227, 253
216, 227
249, 383
188, 536
349, 342
244, 144
319,066
296, 589
991, 637 »1.21 6,525 1, 052, 493 1,065,785
53.1
190, 773
200, 034
95 0
221, 233
256, 596
871. 981
91.0
199, 035
306, 639
769, 232
316, 289
603, 760
i 770, 085
680, 433
561, 237
i 449, 787
420, 571
149.8
152.8
152. 6
154. 4
129.6
133.1
124.0
120.0
2, 528
2,707
2,825
T
r
1, 194
1,150
89 0
276, 464
317,939
i 940, 352
220, 849
272, 593
745, 235
426, 933 i 599, 606
457, 608
136 0
8,872
8,505
9,222
9,591
8,879
8,894
8,345
8, 160
9, 598
4,033
4,197
4,287
4,287
3,591
3,571
3, 346
3, 370
3 850
1,645
34, 048
1,720
16, 871
1, 653
17,057
1,716
18, 043
1, 367
17, 488
1, 405
17, 7.50
1,421
16,133
1,451
17, 230
1,535
20 306
171.3
144.6
42, 088
41, 186
36,341
37,804
7,917
9, 521
7,883
11,490
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
thous"- of short tons
Stocks in producers' storage yards, end of month
thous. of short tons__
Exports __
_
do
Prices:
Retail, composite 9
dol. per short ton
Wholesale, chestnut, f. o. b. car at mine. -do
Bituminous :c?
Production
thous. of short tons
Industrial consumption and retail deliveries,total
thous. of short tons..
Industrial consumption, total. __ __
do_
Beehive coke ovens
do
Oven-coke plants
_
do
Cement mills
do
Electric-power utilities .
do
Railways (class I)
do
Steel and rolling mills.
_
do
Other industrial
do
Retail deliveries
do
T
T
1,987
2,783
2,886
2,475
2,378
2, 650
2,904
2,315
2,370
2,632
2,354
2, 204
1,958
1,611
91
1,608
271
1,654
323
1,726
220
1,759
254
1,786
324
1,870
365
1,929
247
1,916
159
1,726
246
1,656
193
1,384
130
1,340
26.95
14. 619
25.53
14. 619
25.53
14. 944
26.16
15. 319
26.16
15. 550
26.19
15. 756
26.23
15.508
26.34
15. 533
26.34
15.533
26.36
15. 533
26 36
15. 533
26 36
15. 533
26 05
p 12. 852
37, 135
37, 350
38, 632
34, 954
40, 265
40, 994
40, 583
35, 465
37, 082
34 055
29 657
31 456
28 050
34, 375
30. 058
31, 960
29, 236
31, 561
28.720
32, 476
29. 274
33. 492
29. 473
34, 298
28. 973
36, 650
30, 942
35, 769
30, 398
39, 057
31,914
39, 772
31,436
32, 962
26, 560
34, 134
27 969
27, 959
24 488
6,901
7,298
6 658
8, 798
1 610
9 614
1 601
'532
8 189
6.165
8 438
1 347
799
8,583
664
8,618
2,413
559
8,422
4,317
853
8,993
692
8,293
2, 334
474
7,597
2,724
783
8,725
668
8, 758
2,168
454
7,164
2,841
641
9,035
686
9,287
2,191
449
6,985
3,202
644
8,946
682
9,390
2,227
424
7,160
4,019
585
8, 553
668
9,409
2,134
421
7, 203
5, 325
585
8,767
701
9,917
2,239
469
8,262
5,708
491
8, 352
686
9,865
2.096
481
8,427
5,371
476
8,298
737
258
8, 050
735
10, 571
2 092
10, 620
1,939
555
566
9,185
7,143
9,268
8, 336
106
624
476
8 045
6,402
r
59
676
57
625
411
6 952
3.471
l
Revised.
*> Preliminary.
Represents 5 weeks' production.
cf Revisions for January-July 1952 for heating apparatus and January-September 1952 for bituminous coal will be shown later.
*New series. Water-heater shipments are compiled by the Gas Appliance Manufacturers' Association beginning June 1953 and by the U". S. Department of Commerce, Bureau of the Census,
for earlier months; data represent total shipments of gas water heaters based on reports from manufacturers representing 98 percent of the total industry; monthly data prior to August 1952 will
be shown later. Tractor shipments are compiled by the U. S. Department of Commerce, Bureau of the Census, from quarterly reports received from active manufacturers of complete tractors;
data represent total shipments reported by all producers of the specified types of tractors; (annual totals beginning 1922 are available upon request; data for the first three quarters of 1952 are
shown iii the January 1954 SURVEY). For description of new series for steel conduit, see note at bottom of p. S-35.
{Revised to reflect use of new base period.
©Includes contractors' off-highway wheel-type tractors.
fRevised series, reflecting use of new base period; data prior to August 1952 will be shown later.
§ Radio production comprises home, portable battery, automobile, and clock models; television sets include combination models. Data for June, September and December 1953 and
March 1954 coyer 5 weeks; other months, 4 weeks. 0Data for January-October 1953 cover 17 companies, November-December, 18, and beginning January 1954, 19 companies.
tData beginning 3d quarter 1953 for polyphase induction motors cover 33 companies, for direct current, 27 companies; earlier data shown cover 34 and 28 companies, respectively.
9 Revised to represent weighted average price of anthracite stove based on quotations in 6 cities as follows: Baltimore, Boston, Laconia (N. H.), Madison (Wis.), Middletowa (Conn.),
and New York.
SURVEY OF CURRENT BUSINESS
June 1954
S-35
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April
May
June
August
July
September
October
November
December
January
February
March
April
PETROLEUM, COAL, AND PRODUCTS—Continued
COA L—Continued
B ituminous — C ontinued
Consumption on vessels (bunker fuel)
thous. of short tons-.
Stocks, industrial and retail dealers', end of
month, total
thous. of short tons_Industrial total
Oven-coke plants
Cement mills
Electric-power utilities
Railways (class I )
Steel and rolling mills
Other industrial
do
do _
do
do__
_ _ _ _ _ d o __
do
do
Retail dealers
do
Exports
do
Prices:
Retail, composite!
dol, per short ton_
Wholesale:
Mine run, f o. b. car at mine
do
Prepared sizes, f. o. b. car at mine
do___
COKE
Production:
Beehive
thous. of short tons..
Oven (byproduct)
do
Petroleum coke
do
Stocks, end of month:
Byproduct plants, total
_
do
At furnace plants
.
do
At merchant plants
do
Petroleum coke
do
Exports
do
Price, beehive, Connellsville (furnace)
dol. per short ton_.
73
79
73
72
73
66
66
54
19
5
4
5
29
70, 531
72, 912
76, 026
74, 752
77, 997
81, 005
82, 719
82, 381
80, 614
75, 741
75, 194
72, 033
70, 595
69, 473
13, 408
1, 057
34, 649
71, 660
13, 897
1, 106
35, 880
2,571
74, 475
14, 545
1 226
36, 955
2,774
73, 153
13 221
1,197
37, 767
2, 576
76, 387
14, 698
1,341
38, 758
2,533
79 372
15,910
1 454
39 713
2, 639
81 009
16 609
1 505
40 468
2, 605
1 028
18, 794
80 642
16 720
1 541
40 4«7
2,562
1,008
18, 324
79 075
16 486
1 461
39 770
2, 570
74 531
14,885
1 290
38 090
2,432
74 029
14, 730
1 173
37, 969
2, 350
71 146
13, 887
1 OP>8
69 611
977
931
887
17,811
16, 903
16, 920
2,571
922
935
961
918
919
956
16, 866
17, 271
18, 014
17, 474
18,138
18, 700
37 468
2,167
830
15, 726
1,058
1, 252
1, 551
1,599
1,610
1 633
1 710
1 739
1 539
1 210
1 165
887
3, 150
3,437
3,516
3,441
3,709
3 432
3 377
2 712
1 720
1 414
1 294
1 449
11 95
14. 75
14.71
14.81
14.84
14.99
15.07
15. 10
15.12
15. 14
15.13
5. 831
6.446
5.810
6.428
5.796
6.491
5.796
6.572
5.698
6. 665
5.698
6.721
5.724
6.811
5. 716
6.811
5 716
6.807
5 681
6.837
5.607
6.787
512
6,032
543
6,282
498
6,127
408
6,340
409
6,311
373
6,181
298
5,795
166
5,634
65
4,824
370
350
374
384
371
6,033
314
5,894
341
377
364
380
386
387
325
2,009
1,541
2,135
1,606
2,129
1,572
2,221
1,529
2,376
1,598
2,475
1,624
2,513
1,630
2, 658
1,698
467
154
52
529
190
53
557
155
53
692
141
39
778
154
48
850
157
39
883
121
40
959
137
34
2 727
1,682
1 045
2 787
1,715
1,049
172
29
209
36
2 744
1, 649
1 096
' 222
14.75
14.75
14.75
14.75
14.75
14.75
14.75
14.75
14. 75
14.75
2, 059
193, 389
2,378
198 086
1,973
197 837
2, 468
204 701
2,128
204, 059
94
2 134
188 315
2 253
193 378
93
203, 425
94
95
2,290
196 717
2 487
194 108
91
212, 433
93
220, 197
222, 048
91
92
217, 074
93
210, 686
213,017
209, 599
215, 892
215, 366
280, 487
71, 181
191, 494
17, 812
280, 308
71,011
191, 556
17, 741
283, 715
73, 527
191, 879
18, 309
284, 976
74, 269
192, 450
18, 257
285, 352
73, 982
192, 366
19, 004
289 614
73, 991
197 175
18, 448
287 541
72, 959
195 972
18, 610
283 021
71, 634
192 585
18 802
276
72
185
18
676
738
165
773
270 811
70, 661
180 876
19 274
2,833
18, 516
2.570
1,611
20, 709
2.570
1,824
21, 559
2.820
1,2?2
19, 287
2.820
1,321
19, 125
2.820
1,109
21, 876
2.820
1,178
19, 190
2.820
1, 052
17 919
2.820
1, 378
19, 841
2. 820
1,588
17 932
2.820
17 643
2. 820
42, 730
36, 572
43, 393
37, 120
43, 860
37, 151
44, 682
37, 942
44, 539
37,894
43 433
36 098
45 331
36 716
43 901
36 684
44 663
38 652
i 45 474
39 398
i 43 256
34 754
i 45 204
36* 222
38, 533
47, 192
28, 574
44, 729
30, 389
43, 045
25, 140
41 330
26, 435
41, 362
34, 597
42 697
34 379
44 349
44 061
47 280
64 013
54 092
i 74 809
54 976
i 52 840
46 978
i 54 222
48 909
7,152
1,757
7,075
6,087
1,735
7,090
6,116
1, 938
6,747
6,347
2,008
6,720
6,552
1,811
6,578
6 155
1,671
6 746
6 778
1,745
6 259
6 908
1,428
6 095
7 618
1 237
6 612
8 285
1 031
6 031
5 699
5 494
6 456
815
5 985
61, 349
39, 572
73, 706
41, 795
84, 504
43, 801
102, 394
47, 966
119, 542
5C, 007
126 709
50,516
135 409
50,820
133 381
51, 267
111 944
49 370
i 81 044
47, 474
i 70 390
47 119
i 60 270
44 249
2,949
1,972
2, 597
1,591
2,721
1,646
2,143
1,400
1 460
1,728
2 031
1,659
2 386
2 088
2 156
1 G12
2 362
1 514
1 616
1 365
1 275
1 756
1 516
2 110
.098
.850
.093
.850
.093
.950
.093
1.050
.093
1.100
.093
1.100
.098
1.200
.100
1.350
.095
1. 450
.095
1.500
.100
1. 45C
.097
1.200
10, 825
8,256
20, 335
10, 132
5,603
24, 307
9,795
5 467
27, 659
9,945
5 982
31,143
9,940
4 945
35, 711
9,897
7 802
37 280
11,007
9 725
38 161
10, 624
11 947
36 271
11,704
18 229
29 070
i 12, 086
i is 287
i 22 013
i 11 542
i 12 682
i 20 183
i 10 943
i 10 9QO
i 17 533
564
12,856
1 071
37, 504
2,049
798
15, 333
984
15.12
14.99
5. 481
6. 429
v 5 454
p 6. 272
37
5, 110
395
35
4, 658
2 860
1, 579
1.281
26
2, 71 9
1, 525
1, 194
269
29
14. 75
14. 75
14.75
2 599
193 453
2 169
178 603
91
91
197, 914
2 563
201 702
88
214, 620
266
70
177
18
271
73
180
18
r
r
PETROLEUM AND PRODUCTS
Crude petroleum:
Wells completed J
number
Production^
thous. of bbl
Refinery operations
percent of capacity
Consumption (runs to stills) _ _
thous. of bbl
Stocks, end of month:
Gasoline-bearing in U S , total
do
At refineries
- do
\t tank farms and in pipelines
do
On leases
_
do
Exports _
_.
do
Imports
do__
Price (Oklahoma-Kansas) at wells . -dol. per bbL_
Refined petroleum products:
Fuel oil:
Production:
Distillate fuel oilj
thous of bbl
Residual fuel oilj
do
Domestic demand:
Distillate fuel oil J
_.
do
Residual fuel oilj
do
Consumption by type of consumer:
Electric-power plants
do
Railways (class I)
_ _
do
Vessels (bunker oil)
do
Stocks, end of month:
Distillate fuel oil
. .. _
do
Residual fuel oil
__
do
Exports:
Distillate fuel oil
do
Residual fuel oil
_ ._
do _
Prices, wholesale:
Distillate (New York Harbor, No. 2 fuel)
dol. per gaL_
Residual (Okla., No. 6 fuel)
dol. per bbl__
Kerosene:
Production . _ thous. of bbl_.
Domestic demand J
do
Stocks, end of month
_ _ do
Exports
do
Price, wholesale, bulk lots (New York Harbor)
dol. per gal_.
Lubricants:
Production
thous. of bbl
Domestic dernandj
do
Stocks, refinery, end of month
do_
Exports
do
Price, wholesale, bright stock (midcontinent,
f. o. b. Tulsa)
dol. per gaL_
918
916
242
760
795
873
867
068
304
495
873
21 683
2.820
857
500
904
404
384
469
325
469
623
418
609
.108
.103
.103
.103
.103
.103
.108
. 110
. 105
.105
.110
.107
4,271
3,625
10,801
4,293
3,470
10, 611
1,020
4,321
3,905
9,879
1 105
4,627
3 646
9,684
1 068
4, 562
3 563
9 700
924
4,647
3 384
9,726
1 190
4 553
3 211
9 846
1 184
4 572
3 041
10 070
1 193
4,408
2 994
10 472
919
4, 572
3,444
10, 873
1,012
4,221
2 720
10 646
1 282
4 376
3 579
10 385
1 002
.205
.205
.195
.225
.205
.205
.205
.205
.195
.190
965
v 2. 820
6 381
p. 095
p 1.150
p. 105
.190
.190
p. 180
l
Revised.
v Preliminary.
Beginning January 1954, jet fuel (formerly included with gasoline, kerosene, and distillate fuel oil) is excluded. Jet fuel for March 1954 (thous. bbl.):
Production—from gasoline, 2,822; from kerosene, 798; from distillate, 277; domestic demand, 3,717; stocks, 2,777.
t Revised series. Dgta represent weighted averages based on quotations in 26 cities for all sizes of bituminous coal.
JRevisions for 1952 appear 011 p. S-35 of the February and March 1954 issues of the SURVEY.
NOTE FOR STEEL CONDUIT SERIES, p. S-34. * New series. Compiled by the National Electrical Manufacturers Association from reports of 11 manufacturers representing
approximately from 70 to 80 percent of the industry. The figures comprise shipments of galvanized and black enameled rigid steel conduit and cover both the domestic and export market,
including sales from consigned stock.
r
SURVEY OF CURRENT BUSINESS
S-36
June 10." 4
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
April
May
June
July
August
19 54
September
October
No™n.
December
January
^™-
March
ApriJ
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Motor fuel:
Gasoline (including aviation):
Production, totalt
thous. of bbl- . 101. 389
Gasoline and naphtha from crude oilj
90, 359
thous. of bbl 8,088
Natural gasoline used at refineries
do
2,942
Natural gasoline sold to jobbers^
do
102,
044
Domestic demandj
do
Stocks, end of month:
148, 924
Finished gasoline
do
84, 695
At refineries
- - - -do- 9,108
Unfinished gasoline
do
8, 849
Natural gasoline and allied products, -do
3,239
Exports
do.
Prices, gasoline:
Wholesale, refinery (Oklahoma, group 3)
.104
dol. per gal..
.129
Wholesale, regular grade (N. Y.)
do .206
Retail, service stations, 50 cities
do
Aviation gasoline:
7, 263
Production total
thous. of bbl
6, 065
100-octane and above
do
9 601
Stocks total
- -. do
4,910
100-octane and above
doAsphalt:©
5 330
Production
do
10,473
Stocks, refinery, end of month
do -..
Wax:Q
424
Production
do
Stocks, refinerv, end of month ._ _ _ .-do - 503
Asphalt products, shipments:
5, 246
Asphalt roofing, total
thous. of squares.
Roll roofing and cap sheet:
1,074
Smooth-surfaced
do
1, 113
Mineral-surfaced
- do
3,058
Shinsles all types
do
123
Asphalt sidings
--do
72. 828
Saturated feltscf
short tons
107, 243
106, 943
114,123
114,321
107, 729
109, 061
108, 623
112,473
i 106.373
i 97, 330
96, 091
8, 255
2,897
105,918
95, 051
8,948
2,944
114,703
101,563
9,511
3,049
112, 960
101, 833
9,502
2, 986
109, 124
95, 644
9,991
2,094
106, 158
96, 166
10, 380
2 515
106,037
95. 722
10.145
2 756
99 210
99, 525
9. 873
3 075
100' 925
i 94, 336
9, 633
2, 404
i 89, 852
i 85, 244
8,987
3 099
1
86, 206
147,371
82, 322
9,044
10, 359
2,185
137. 863
78 429
8, 333
11,054
2.018
135, 724
75, 545
8, 1 92
11,253
2,762
137,972
77, 262
8,078
11, 959
2 509
136, 192
76, 698
7 992
12. 636
3 013
136 398
74, 930
8 097
13, 193
2 018
142 472
78, 021
8 275
12, 223
2 560
151 129
86, 761
8 S90
10.428
2 411
i 163 532
i 97, 997
8 172
10, 334
2 083
i 172 207
1
106, 821
7 743
10, 575
2 348
.104
.129
.206
.104
.129
.221
.114
.142
. 222
.114
.142
.220
.114
. 142
.220
.114
.142
.218
.113
142
.221
.111
141
.220
.111
137
.218
' .108
. 135
.216
7, 907
6,748
9, 828
5, 348
7,811
6 830
9, 1 63
4, 900
7,793
6 568
9, 51 6
5 253
8, 153
7 013
9,94i
5 700
7,894
6 655
10,099
5 640
7, 337
5 994
10 678
5 965
6 451
10, S34
7 680
9. 586
8 243
8,429
8 366
7, 094
7 689
5,709
439
510
441
506
398
503
397
524
420
5!Q
5,474
5, 276
5,590
6.412
5. 939
1,042
1, 232
3,201
113
70, 807
1,031
1, 143
3. 102
102
64, 994
1 223
1. 182
3 185
1 426
1 . 38 1
3 605
148
81 386
1 278
1 373
3 289
158
71 550
67 690
1
104, 612
1
1
91, 851
9,240
3 521
101 549
i 173 060
104, 344
8 237
11,447
1 333
1
. 108
135
.216
v. 108
•p 135
f. 214
074
120
162
856
7 fi7B
6 230
10 172
5 498
7 081
5, 541
5 181
6 244
3 888
7 314
3 447
8*370
3 956
9. 589
4 895
10 970
436
530
434
558
420
538
442
598
420
619
478
644
5.811
4,126
2,698
2,565
2, 846
3. 82 -i
4.923
1 259
1 394
3 158
185
76 120
911
1 030
2 185
138
60 241
596
661
1 441
107
48 872
573
673
1 319
89
47 Q89
637
670
1 540
94
93 417
r 805
1 00 1
1 Oil
2 907
113
55 865
7
6
10
5
7
6
10
5
245
156
773
759
6
5
11
5
991
580
099
380
7
6
11
5
T
359
290
486
719
843
r 9 174
116
r 55 7gQ
PULP, PAPER, AND PRINTING
PULPWOOD AND WASTE PAPER
Pulp wood:
Receipts
thous. of cords (128 cu. ft.)- Consumption
do
Stocks, end of month
do
Waste paper:
Receipts
short tons-Consumption
_
_ _.
do-Stocks end of month
do--
1,987
2 375
5, 598
1, 875
2 406
5,063
2, 259
2 370
4,947
2,436
2 176
5, 205
2,697
2 470
5. 433
2,494
2 306
5,628
2, 522
2 *i48
5,' 601
2,367
9 380
5, 582
2, 220
2 157
5,639
2,393
9 387
5, 639
2, 388
9 1Q1
2,292
2 473
5, 672
1,994
2 3"->
5, 280
762,156
750, 702
484 184
723, 385
732, 924
473 084
718,942
734, 350
456 525
656, 745
633 3?0
480 559
705, 640
743 467
441 216
732, 704
748 809
424 945
772, 202
754 254
442 481
682, 394
667 762
452 079
646. 134
620 455
478 86 1
(>20, 21 7
648 °()6
454 94^
628, 731
639 813
443 016
719, 354
716 05°
447 363
f>8f>, 075
668 019
461 833
1,518
57 914
812,940
201 416
35 828
209 324
99, 650
1,483
63 469
800, 485
188 431
35 639
199 893
98, 260
1, 352
45 587
724 651
168 730
31 325
190 159
97, 351
1, 546
68 163
844 347
192 556
37 544
205 005
92. 031
1,434
64 270
775' 9930
183 00
35 531
186? 093
89, 092
1,573
51 716
868 864
204 710
38 485
202 922
96, 853
1,504
63 116
830 754
191 913
35 442
189 449
91,576
1,337
45 01 6
720 957
184 f>93
34 343
191 255
82, 766
1,487
59 370
808 709
201 SQ3
38 590
201 614
82, 246
1,362
735 303
182 71 5
35 213
1, 541
63 338
832
420
9
to' 086
40* 182
7Q2 QIQ
IQQ* 339
76. 057
80, 987
86. 613
173,013
41 965
42 354
1 348
37 271
175, 179
36 343
42 988
1 497
35 187
154,215
36 725
38 319
l' 582
32* 595
163. 100
42 459
37 636
1 874
31 204
153,
40
28
2
27
145,
43
28
3
25
601
100
028
208
849
156, 634
43? 766
29 492
3 298
25 980
148, 6299
41 25
32 808
155, 081
42 188
33 457
3' ^54
159, 946
44 °48
164, 003
161,744
oo' ^oc
on t\'rc
8,672
191,660
20. 461
83 397
61 457
2 429
23, 462
11.885
198, 103
23, 614
84 371
61 293
2 604
25, 572
13, 285
160, 774
23, 848
63 381
48 628
2 499
21 853
9, 236
186. 924
22, 303
79 701
62 304
2' 594
19 380
11,712
179, 473
22,911
68 156
60 714
3' 259
23 417
17, 958
183, 914
24, 125
68 156
57 870
3 726
26 765
17,162
174, 942
23, 603
62 278
60 768
3 3°8
23 086
28, 965
177, 164
17, 232
76 627
57 QQO
3 297
20 869
14,291
144, 406
16,210
/-' ? r i
3 048
16* 386
19, 675
171,833
18, 302
WOOD PULP
Production:
Total, all grades
tLous. of short tons-'1,471
51 686
Dissolving and special alpha
short tons
Sulphate (paper grades)
do
783, 586
200, 232
Sulphite (paper grades)
do
33, 71 7
Soda
- do
r
Groundwood
do
206 147
Defibrated, exploded, etc
do
99, 431
Stocks, own pulp at pulp mills, end of month:
Total, all grades
short tons.- 164, 671
41 427
Sulphate (paper grades)
do
40 609
Sulphite (paper grades)
do
1 711
Soda
do
34 740
Groundwood
do
Exports, all grades, total.
Imports, all grades, total cf
Dissolving and special alpha
Sulphatecf
-Sulphite (paper grades)
Soda
_
_
Groundwood _-
__
_
do
do
do
- do-do
do
do
12, 646
175, 608
21, 523
60, 073
62 540
3,030
16, 694
880
615
206
677
555
OT OHO
fil R^tT
'} -
\A OOQ
CA 1
26, 896
178,770
20, 451
9 Q1 9
21 309
1,472
rp -nil
1 Q 3m
-
PAPER AND PAPER PRODUCTS
All paper and paperboard mills:
Paper and paperboard production, total
thous. of short tons_.
2,263
' 2, 269
2, 263
2,042
2,298
2,225
2,409
2,186
2.023
2,164
Paper (inch building paper)
do-1 084
1 067
1 085
1 Ofifi
981
1 082
1 065
1 158
1 046
1 012
r 1 059
1 052
Paperboard
do
Q1 R
1 071
941
1 100
1 053
1 134
1 031
125
Building board
do
126
mi
' 10.Q
QK
107
llfi
120 1
117
125
r
Revised.
* Preliminary.
i See corresponding note on p. 8-35.
^Revisions for 1952 (old basis) appear on p. S-36 of the February 1954 SURVEY; revisions for 1952 (comparable with data for 1953) will be shown later
OAsphalt—5.5 bbl. = l short ton; wax—1 bbl. = 2801b.
(^Revisions for 1951 for saturated felts and 1952 for wood-pulp imports will be shown later.
2,043
i r\K
r
2, 303
1, 041
1 OC
2.184
SURVEY OF CURRENT BUSINESS
Jane 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-37
1954
1953
April
May
June
July
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
ary
March
April
PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCTS— Con.
Paper, excl. building paper, newsprint, and paperboard (American Paper and Pulp Association) :J
Orders, new
short tons__
Orders, unfilled, end of month
do
Production
do
856, 801
853, 842
881, 403
869, Oil
456, 707
856, 552
837, 262
872, 696
873, 123
456, 255
857, 394
841, 175
852, 103
853, 480
490, 105
Stocks, end of month
do
Fine paper:
103, 939
106, 914
Orders new
do _._ 111, 120
49, 915
44. 030
44, 180
Orders, unfilled, end of month
do
111,896
108, 556
112,
343
Production
do
109. 255
109, 820
106, 764
Shipments
do
111, 740
114, 265
116, 057
Stocks end of month
do
Printing paper:
294,
237
297,
385
308,
394
Orders new
do
518, 375
515, 610
524, 410
Orders unfilled, end of month
do
305,
703
302,
870
298,215
Production
do
303, 514
300, 510
299, 593
Shipments
-- do
151, 165
151,800
153, 525
Stocks end of month
do
Price, wholesale, book paper, "A" grade, Eng13.55
13.72
13.55
lish finish, white, f. o. b. milL.dol. per 100 lb_.
Coarse paper:
278, 359
290, 418
272, 040
Orders new
short tons
173, 820
168, 430
164, 575
Orders unfilled end of month
do
287, 262
292, 593
279, 036
Production
do
286, 865
295, 808
275, 893
Shipments
do
125, 025
121,810
124, 950
Stocks, end of month
do
Newsprint:
Canada (incl. Newfoundland):
480, 239
480. 316
463, 193
Production
_
do
498, 889
467, 656
486, 389
Shipments from mills
do
183, 273
195, 856
172, 660
Stocks, at mills, end of month
.do
United States:
429, 562
408, 874
381, 186
Consumption by publishers
do
92, 405
88, 194
90, 727
Production
- do
89, 004
91, 168
89, 640
Shipments from mills.
_ do
Stocks, end of month:
7,887
9,124
10, 211
At mills
--- --do
515, 063
483, 059
484, 762
At publishers
do
91, 272
69, 684
76, 270
In transit to publishers
do._
436, 024
405, 424
428 210
Imports
do
Price, rolls, contract, delivered to principal
125. 25
125. 25
125. 25
ports
dol. per short ton
jpaperboard (National Paperboard Association) :
Orders new
short tons 1, 101, 800 1, 040, 100 1, 152, 100
459, 800
539, 000
567, 000
Orders, unfilled, end of month
do
1, 071, 200 1, 073, 400 1, 092, 000
Production, total
_
do
95
96
Percent of activity
Paper products:
Shipping containers, corrugated and solid fiber,
7, 013
6,889
7,119
shipments!
mil sq.ft surface area
Folding paper boxes, valur:
169.4
162.5
174.6
New orders
1947-49 = 100
153.4
152.7
155.6
Shipments
do
r
852, 229
898, 245
785, 661
795, 157
480, 613
861,
886,
868,
867,
481,
210
394
688
756
655
871,848
910, 040
854, 827
848, 200
487, 000
917,
889,
936,
937,
483,
863
245
711
805
750
801, 866
832,041
857, 709
847, 182
487, 486
818, 131
816, 267
838, 559
834, 170
489, 678
875, 002 ' 800, 817 r 933, 425
815, 444
796, 945 r 587, 437
883, 841 r 832, 975 ••922,617
r 884, 315 ' 817, 427 f r 915, 262
410, 644
r 492. 626
509, 470
845, 000
547, 295
878, 000
884, 000
409, 100
110,098
60, 575
91, 846
93, 699
114, 204
104, 843
57, 398
108, 168
108, 020
114, 352
100, 159
52, 020
108, 598
105, 535
117, 057
109, 887
44,211
115.846
116 817
116, 437
95, 228
40, 233
106, 106
100, 050
122, 523
96,009 ' 102, 345 r 100, 984 r 113, 017
32, 152
«• 31, 150 1^57,016
36, 091
104, 122 r 103, 041 'r 102, 297 r 115, 527
106, 930
101, 987 1 115, 000
100, 360
r 93. 775
118. 500
120, 539
124, 114
109, 000
55, 000
111,000
111,000
97, 000
310,
552,
280,
282,
150,
280, 988
527, 024
308, 446
301, 142
157, 512
314, 921
549, 458
294, 782
292, 487
159 705
311. 553
545, 979
321 420
315,040
166 074
274, 906
508, 340
296, 073
299,811
160. 641
302, 577
520, 260
289, 628
290, 655
159, 614
* 298, 488 r 265, 291 r 342, 570
495, 000 i" 294, 545
514, 535
306, 062 r 283, 994 ••321,965
304, 212 f 279, 074 ' 322, 824
167, 000 l r 105, 560
161, 464
282,000
260,000
309, 000
316, 000
159. 000
681
480
905
611
094
13.80
13.80
p 13. 80
r 293, 628 ' 272, 375 r 294, 795
167, 000 ^ 123, 335
167, 962
' 297, 093 rT 278, 203 '301,230
r
271, 865 r 300, 980
290 916
139, 300 i r 89, 200
133, 303
279, 000
1 19, 000
280, 000
283, 009
87, 000
476, 151
452 470
134, 925
457, 927
437 780
155. 072
515, 482
481 487
189, 067
500, 199
503, 292
185,974
388, 237
89 656
90, 240
363, 057
96 284
95 132
345, 642
88 197
86, 219
400,311
98 115
100 585
414, 877
89, 839
88, 968
8
477
73
448
9
470
88
356
11
488
96
391
8
495
85
454
686
871
178
*>97
9,557
484, 226
81, 181
125 75
125 75
13. 80
13.80
270, 964
178, 095
256, 249
257, 445
123, 757
308,
198,
286,
287,
122,
039
355
756
776
735
288, 155
205, 682
283, 163
280, 828
125, 070
313 043
201 230
313 984
317 495
122, 559
268, 476
185 543
290, 817
284 222
129, 100
260, 949
165 249
279, 291
281 243
127, 122
491,254
494 212
169, 702
484, 507
498, 506
155, 703
467, 431
482 598
140, 536
510 772
,506 544
144, 764
473 176
491 450
126, 490
473 325
488 571
111, 244
340, 044
88, 121
90, 755
359, 133
90, 824
92, 295
385, 386
85 966
85, 824
429, 509
97 112
96 288
427 904
92 385
90 847
7,577
514 320
81 719
404 365
6,106
539 622
91 010
436 879
6
548
77
402
7
514
80
437
8
464
87
412
125 75
125 75
13.80
13.80
248
537
414
053
125 75
13.80
072
419
803
857
610
899
468
584
r
026
800
969
251
13.80
178
536
739
455
125 75
125 75
973 300 1 105 200 1 139 300 1 078 600 1 021 400 1 Oil 200
522, 500
467, 400
392 400
590 800 ' 423* 700
374 400
939 700 1 122 400 1 069 600 1 170 700 1 051 000
992 200
81
94
98
97
79
94
885 400
330 800
937 700
89
125 75
125 75
13. 80
156
503
457
503
125 75
997, 400
921 700 1 140 400
321 000
424 900 ' 369, 100
926 800 1 064 400 1 014 600
88
89
90
6 541
7 152
7 518
7 382
6 730
6 356
5 815
5 966
7 153
6 952
162 6
143.9
176 9
158 4
160 5
169 2
179 7
177 7
149 5
152 8
156 4
154 1
174 0
161 9
182 3
166 0
214 7
183 0
198 6
180 2
736
568
168
1,014
800
214
844
738
1
06
1,323
1 132
191
1,079
867
212
974
789
185
826
650
176
878
707
1,102
855
1,101
894
94 ^
9ft7
43 251
112 677
49 743
42 400
112 316
45 947
46 960
119' «79
47 140
•J 1 c' OOQ
42 645
47 7^1
.209
.204
.200
>•. 203
070
57 299
rq occ
PRINTING
Book publication, total
New books
New editions
number of editions..
do
do
852
701
151
1,359
1,069
290
993
815
178
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
_
long tons
Stocks, end of month
_ _.
do
Imports, including latex and guayulej-. _ _ d o
Price, wholesale, smoked sheets (New York)
dol. per lb_.
Chemical (synthetic):
Production
long tons
Consumption _
do
Stocks, end of month-.
do ...
Exports
_.
do
Reclaimed rubber:
Production
do
Consumption ...
do
Stocks, end of month
__
do
49, 375
108, 892
60, 578
46 889
113 532
56, 126
48 224
112 959
61, 423
43 929
118 825
54, 661
43 732
119 33°
44, 156
45 225
121 618
58,' 625
46 744
114 191
46 729
.244
.250
.245
.239
.234
.235
.200
82, 952
77, 221
122, 041
1,500
85 302
72 234
132, 109
2 299
80 227
71 751
143 789
1 781
60
58
167
2
677
652
625
244
57 170
58 ^15
166 7°4
1 712
28 714
26, 483
31 263
26 839
25 213
31 763
00
OCfl
9 26°
8 913
3, 798
5, 001
115
16 872
112
7, 544
6 760
12 155
80
79
61
159
1
360
299
486
923
68 299
59 241
169 152
1 996
26 315
24 637
39' 791
23 001
93 414
31 506
22 r>32
22 666
30 318
8 987
8 942
3,200
5, 604
139
16 973
135
8 572
9 279
3,537
5, 601
142
16 259
137
8 173
9 555
3,616
5,793
146
14 883
137
8 798
3, 130
5,523
145
13 550
142
6,940
6 586
12 592
80
7,035
6 907
12 811
59
6,395
7 302
12 097
65
22 409
30 147
.206
57 221
RQ
Kf\
n9* fi70
166 523
o' 359
175 845
2 ' fi8S
46 897
r rj3 7QQ
r 1 1 9 S9Q
r 1
PQA
.214
170
180 839
-too A or.
1 °.Q7
r
23, 305
21, 612
r
32, 148
31, 796
6, 308
2,634
3,557
117
15, 709
7,981
7,629
3,163
4,350
116
16, 077
80
8,065
8,243
3, 131
4,935
176
15, 906
5,896
5, 617
10, 448
61
6,399
6,013
10, 869
49
6,266
6,001
11,234
21 944
on fit)9
TIRES AND TUBES
Pneumatic casings:
Production
.
_
thousands
Shipments, total _.
do
Original equipment
do
Replacement equipment.
_
.do
Export
do
Stocks, end of month
.
uo
Exports,.
_
do
Inner tubes:
Production
_.do
Shipments
_.
do
Stocks, end of month
do
Exports
_
.
do
' Revised.
* Preliminary.
1954 SURVEY*18
1947 53 f r PaP
~
°
'
7 41 fi
5,679
6 529
10 226
C7
7 1 48
7 494
7 fift/i
2, 837
4, 438
3,155
4,246
172
1 40
1 *?
987
6, 481
7 ^7<;?
2,221
2,729
1 °i AA(\
2,620
2, 903
7, 042
2,891
3,993
158
137
132
-107
5,656
5,752
4,738
4,533
5, 395
11 288
1 0 QO4.
68
50
c 7on
OQ
1 Revised basis: not comparable with earlier data.
D Iater th Se f r January
' ° °
1952-February 1953 for shipping containers and for various months in 1952 for rubber imports appear in the May
SUKVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through
1952 arid descriptive notes are shown in the
1953 Statistical Supplement to the Survey
June 1954
1953
April
May
June
July
August
1954
September
October
November
December
January
F
^7U"
March
April
STONE, CLAY , AND GLASS PRODUCTS
ABRASIVE PRODUCTS
178, 323
183, 075
172, 177
160, 350
186, 236
202, 356
167, 782
187, 434
' 166, 452
158, 930
179, 223
163,553
21, 802
93
20, 891
24, 773
9,715
23, 399
97
22, 924
25, 247
9,401
22, 698
97
26, 400
21, 542
8,832
24. 134
100
26, 480
19,204
7, 829
24, 289
101
27,092
16, 445
6,652
23, 795
102
27, 433
12, 859
5, 001
24, 738
103
27, 556
10,049
4, 109
22, 529
97
19, 494
13,083
4,022
20,243
84
14, 130
19,231
5,349
17, 769
74
11,143
25, 869
8,240
16, 895
78
15, 202
27, 562
10, 091
20, 084
83
18, 740
T
28, 903
r
11,918
21,709
§
23, 56?
27, 045
11,790
485, 905
499, 936
496, 994
533 073
544, 733
521, 922
540, 237
526 67^
517. 921
531, 172
533, 562
538, 051
548, 073
490 055
469. 095
450 729
376, 469
377 536
294, 766
376, 203
382. 387
473 662
460. 448
Coated abrasive paper and cloth, shipments . ream? . . 206, 348
PORTLAND CEMENT
Production
Percent of canacitv
Shipments
~
Stocks finished end of month
Stocks, clinker, end of month
thous. of bbL.
thous. of bbl do
-do
r
CLAY PRODUCTS
Brick, unglazed:
Production!
thous of standard brick
Shipments^
do
Price, wholesale, common, composite, f. o. b.
plant - _ dol. per thous _ Clay sewer pipe, vitrified :J
Production
^hort tons
Shipments
_.. ._ -.do
Structural tile, unglazed :t
Production
--- do
495, 613
27. 789
27. 791
27. 839
27 957
27.957
28. 100
28, 100
28. 147
28. 147
28. 033
28. 033
28. 033
142, 147
135,874
139, 598
131,359
145 562
140, 039
136 631
145,519
144, 989
147, 954
144S 393
154,601
I3.r» 081
124,716
131 519
95, 572
118 054
84, 965
123, 951
100, 596
145 251
129, 280
80, 799
80, 474
78, 329
83, 583
80, 701
85 l!<i
84, 175
83, 281
139 095
148, 165
'
83, 177
76 567
82, 428
75, 654
85, 245
81, 884
81,631
73 528
75, 027
61 939
07.871
55 146
72, 370
64, 521
81,025
77 972
10,475
11.1Q(£4
10 6 )
11,084
10 421
10,805
10 018
11,759
10 847
10, 445
H) 781
11,332
10 448
9, 857
9 060
9, 110
9 533
10, 009
8 890
9.748
8 455
11,200
11 923
P 28. 150
GLASS PRODUCTS
Glass containers:
Production
thous. of cross
General-use food:
Wide-mouth food (inel. packers' tumblers,
jelly glasses, and fruit jars) thous. of cross.,
Beverage (returnable and nonreturnable)
thous. of gross _.
Bee*" bottles
do_.
Liquor and wine
._ . _ _ do.
Medicinal and toilet
do._
Chemical, household and industrial
do
Dairy products
- do-.
Stocks end of month
doOther glassware, machine-made:
Tumblers:
Production.
thous, of dozens _ .
Shipments
do
Stocks
-- -do_- Table, kitchen, and householdware, shipments
thous. of dozens. .
Q 49=",
10,460
9 034
1, 030
1 314
945
844
1 116
1 688
1 057
754
745
805
779
1 364
1,144
2, 315
2, 922
2. 850
2,772
3,401
2. 992
3, 017
2, 581
2. 650
2,842
2, 593
3,392
2, 519
' 1 , 034
9(57
f
934
] , 942
971
233
9,749
1,149
1,111
1.070
2. 047
' 860
"• 215
9 915
1,317
1, 181
1,024
1,904
915
226
10 237
1 393
924
1 889
833
24°
10 651
716
1, 274
929
2 137
972
302
11 203
440
1,104
1, 128
2, 153
943
334
10, 540
511
908
1,471
2, 232
942
310
11 005
703
553
1 343
2 120
733
272
11 401
1.138
703
1,003
2, 13u
731
433
10 701
346
514
937
2 262
878
234
11,520
350
649
913
2, 175
930
166
12 563
600
916
1,358
3 013
1,096
184
11 991
774
792
910
1,809
893
193
13,099
6, 029
5 880
10, 582
6. 049
5 951
10, 705
5, 296
4 800
11 089
3, 861
4 931
9 953
5, 705
5 389
10' 107
4,810
4,785
10, 075
5, 450
5 716
10, 267
4, 635
3 986
10 716
4.124
3 914
10 184
5, 180
4 399
10 356
5, 355
5 064
9,980
6,067
5 654
10 272
6,075
6 152
9,852
3,549
3, 533
2,741
2,739
3,252
3,793
3,725
3,015
2,444
2,750
3,122
3, 802
3, 148
13, 126
14, 274
12,623
GYPSUM AND PRODUCTS
Crude gypsum, quarterly total:
Imports- . _
thous. of short tons...
Production
_
do .
Calcined, production, quarterly total
-do .Gypsum products sold or used, quarterly total:
tin calcined
short tons, .
Calcined:
For building uses:
Base-coat plasters
do
Keene's cement
- - do
All other building plisters
__do _ _
Lath
thous. of sq. ft
Tile
do
Wallboardd"
do
Industrial plasters
short tons
822
1,887
1, 798
1,190
2, 108
1,867
737
2,051
1,789
566, 785
601, 383
604 771
432, 369
13 401
196 988
593 756
7,181
942, 793
66 893
473, 536
12, 081
231,835
660, 025
7,301
908 056
59 866
409
10
219
602
7
952
61
354
588
538
035
437
870
008
TEXTILE PRODUCTS
CLOTHING
Hosiery, shipments
thous. of dozen pairs.Men's apparel, cuttings:* \
Tailored garments:
Suits
thous. of units
Overcoats and topcoats
- - - - ..do
Trousers (separate), dress and sport
do
Shirts (woven fabrics), dress and sport
thous. of doz__
Work clothing:
Dungarees and waistband overalls
__do
Shirts
do
12,839
11, 184
12, 317
12,031
14, 105
14, 983
i 2, 220
1521
1
5, 662
1,844
559
4,897
1,773
614
4,398
i 1, 285
i 456
iS, 370
1,713
652
3,829
1,511
562
3,725
1
i 2, 274
1,783
1,655
* 1, 493
1,462
1,590
1444
M96
369
398
397
390
1376
J
357
371
419
396
394
15, 117
13, 555
11, 924
12, 675
1,891
1576
i 4S 482
1,566
347
3,682
1 1, 834
1285
i 3, 852
2
1, 840
2256
2 4, 512
1,732
276
4,848
' 1- 1,J 810
295
' 1 5, 520
1,412
32P
4,801
1
1,491
1
1, 526
21,520
1,668
1 1, 850
1,692
1234
1339
2256
2372
348
392
1355
1445
384
360
1, 805
1
440
1414
278
336
Women's, misses', juniors' outerwear, cuttings
(quarterly through 1953):*
Coats.. _ _ _
__ . _ _ thouL- . of units .
3,731
6,508
5,711
2,442
2 2, 200
3,187
1,542
Dresses
_. .
- ._ .-. ... -do ..
53, 331
73, 107
53, 358 2 219, 332
20, 356
26, 870
26, 720
2 941
Suits
do
2, 546
2,987
1,639
1,774
1,843
747
2
2,874
Waists, blouses, and shirts.—
-thous. of doz_.
3,068
3,071
1. 152
1,249
1.432
1.277
r
Revised.
v Preliminary.
1 Data cover a 5-week period.
2 gee note marked "*" for change in sample coverage beginning January 1954.
J Revisions for 1952 are shown in the August 1953 SURVEY.
cTIncludes laminated board, reported as component board.
^Data for Apri], July, October, and December 1953 and March
1954 cover 5-week periods and for other months, 4 weeks.
*New series. Compiled by the U. S. Department of Commerce, Bureau of the Census. Data are estimated industry totals derived as follows: Men's apparel—estimates beginning January 1954
are based on a monthly sample survey of manufacturers, accounting for approximately 75 percent of the total 1952 production; data prior to 1954 are based on a sample covering establishments
that accounted for about 90 percent of the total 1951 cuttings of these items. Women's outerwear—based, on reports from establishments classified in the women's principal outerwear industries
for the specified items; monthly data beginning January 1954 are estimated from reports of producers that account for appoximately 75 percent of total output; quarterly estimates prior to 1954
were based on reports from 2,500 establishments accounting for about 90 percent of total shipments in 1951. Cuttings for 1950 and 1951 will be shown later; data for 1952 (except men's
dungarees, etc.) are shown at bottom of p. S-38 of the December 1953 SURVEY. Cuttings of men's dungarees and waistband overalls for January-December 1952 and January 1954 appear in the
April 1954 SURVEY.
SUEVEY OF CURKENT BUSINESS
June 19f>4
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-39
1954
1953
April
May
June
July
August
September
October
November
December
January
14 323
15 151
1 16 140
February
March
April
TEXTILE PRODUCTS—Continued
COTTON
Cotton (exclusive of linters):
Production:
(Winnings §
thous of running bales
Crop estimate, equivalent 500-lb. bales
thous of bales
3 909, 240
Consumption^
bales
Stocks in the United States, end of month,
8,122
totalt
- thous. of bales
8,027
Domestic cotton, total
do.
716
On farms and in transit
do
5, 491
Public storage and compresses
_
do
1,820
Consuming establishments
do
95
Foreign cotton total
do
Exnorts
_ _ _ _
.. bales.. 208, 208
33, 122
Imports o
do
31.5
Prices (farm), American upland
cents per l b _ _
Prices, wholesale, middling, I ! ) i 6 f r , average, 10
33. 0
markets _
_ _ .cents per Ib...
Cotton linters:!
3128
Consumption
thous. of bales. _
3 119
Production
do
r
1, 129
Stocks end of month . _
_ _
do_
349
1 166
5 547
10 788
2
16 317
2
3
3
3
16 465
845, 036
748, 049
740, 864
3 742. 064
725, 849
702, 425
872 128
684 990
757 152
678, 827
684 367
7, 134
7, 039
682
4, 638
1,719
95
260, 905
15, 938
31.7
6,189
6,094
493
3, 996
1, 605
95
220, 226
11, 430
31.5
5,605
5 510
259
3, 808
1,443
94
114, 730
8, 375
31.9
19, 284
19 204
14 329
3 682
1, 193
84
193, 304
9,130
32.8
19,800
19, 720
12 650
5,815
1,254
80
199, 809
20, 209
33.1
18 723
18 640
7 810
9 368
1, 462
83
217,307
7 776
32.5
17, 808
17 733
5 002
11 186
1, 545
75
242, 848
8 510
31.8
16 690
16 625
3 056
11 925
1,644
65
375 035
11 070
30.7
15, 733
15 672
1 Q13
12 058
1,701
61
296, 651
6 503
30.1
14, 682
14 619
1 369
11 462
1,788
63
385 420
12 866
30.4
13, 498
13 433
1 169
10 495
1,769
66
429, 659
16 258
31.1
12 280
12 205
824
9 698
1, 683
75
33.4
33.2
33. 4
33.0
32.8
32.7
32.7
32 (\
33.2
34 0
34.2
34 2
131
83
1,063
123
66
1, 050
3103
3 49
987
121
60
986
122
172
1,081
3124
y 247
1 177
111
240
1 297
3111
1 376
113
222
1 428
95
1()7
1 457
399
3
189
1 542
105
150
1 590
55, 304
6,887
62, 247
6.311
2, 61 0
57, 382
4,924
47? 359
4, 399
45, 355
4, 594
2,418
54, 916
6, 267
47 444
4 651
46 093
7 193
2 540
49 493
6 306
45 5f>0
4 777
50 457
4 649
44 578
3 988
32 01
38.8
18.4
16, 9
31. 98
38.8
18.4
17.3
32 82
38.2
18.5
18.0
32 56
38.2
18.3
18.0
32 97
38.2
18.3
18.0
32 74
37. 2
17.9
18.0
;j ] 44
36.9
17 5
17.8
9Q r,9
99 13
34 9
15 9
17. 5
2R %
34 9
16 0
17.3
27 1°
34 o
15 8
16.8
9
36 9
16 5
17.5
6 84
34 9
15 4
' 16.8
26 75
p 34 9
p 15 4
»16.6
.670
. 978
. 660
4.972
4
. 630
93^
.630
4 927
.625
4 921
630
4 921
.632
4 921
p 6V0
-p 921
21, 252
19 990
9,232
-174
8 719
129 1
20, 933r
19 69 )
3 10,' 246
436
s 9 683
3 iig 8
20. 897
19 Q52
9,145
457
8 631
124 7
20, 888
19 656
9, 231
469
8 697
128 1
20, 872
19 626
11, 454
458
3 10 799
3 125 3
20,715
660 209
33.6
COTTON MANUFACTURES
Cotton cloth:
Cotton broad-woven goods over 12 inches in width,
production, quarterly cf
mil ot linear vards
Exports
_
thous. of sq. yd
Imports?
do
Prices, wholesale:
Mill margins
cents per Ib
Denim, 28-inch
..
cents per vd
Print cloth, 39-inch, 68 x 72
do
Sheeting, in gray, 40-inch, 48 x 44-48
do
Cotton yarn, natural stock, on cones or tubes:
Prices wholesale, f o b mill*
20/2 carded, weaving
._ dol.perlb
36/2 combed knitHng
do
Spindle activity (cotton system spindles) :1
Active spindles, last working day, total thous..
Consuming 100 percent cotton
do
Spindle hours operated, all fibers, totaLmil. of h r _ _
Average per working dav
__ .
do
Consuming 100 percent cotton
do
Operations as percent of capacity
_.
. 679
995
.690
1.002
4
.675
.984
4
.655
. 964
4
643
955
4
21, 259
1 9, 926
s 12, 353
501
3
11, 608
3
136. 7
21, 377
20, 013
10, 133
507
9,489
138.6
21, 201
19 824
9, 938
497
9, 330
136.1
21,344
20, 007
310,126
405
3
9, 484
3
110.9
21,391
20 003
9. 857
493
9,279
134.8
21, 322
20 039
9,582
491
9,044
133.9
78.3
24.1
81.5
26.6
80.3
27.0
78.8
27.0
72.0
23 8
63.6
22 8
64 6
26 0
62 9
25 5
53 9
21 9
55 9
24 3
55 5
24 1
60 8
29 1
(\(\ A
60.3
22.9
11,351
57.9
26.1
6,069
56.8
30.1
7,241
59. 6
32.9
7, 557
65. 1
37.0
5,733
72 1
35.8
3, 355
74 3
34 0
2,006
71 3
29 9
2,277
77 2
32 7
1 775
78 6
33 1
1 215
75 8
30 9
1 691
75 4
28 3
9 264
70 n
28 3
.780
.366
.780
.336
.780
.336
.780
.336
.780
.336
.780
.336
.780
.336
.780
336
.780
336
.780
336
.780
336
.780
336
p. 780
21,244
19 953
3 11, '853
479
3
11
192
3
130 6
3
1Q 4.^7
8, 991
457
8 475
125 3
RAYON AND ACETATE AND MFRS.
Filament yarn and staple:
Shipments, domestic, producers':
Filament yarn
.
mil. of Ib
Staple (incl tow)
do
Stocks, producers', end of month:
Filament yarn
do_._
Staple (incl tow)
do
Imports
_..
thous. of lb__
Prices, wholesale:
Yarn, viscose, 150 denier, filament, f. o. b. shipping point
dol. per lb_.
Staple viscose, Ity denier
... _ _..do
Rayon and acetate broad-woven goods, production,
quarterly d"
.
thous. of linear vards. _
SILK
Silk, raw:
Imports
-thous. of Ib
Price, wholesale, white, Japanese, 20/22 denier,
87% (A A), f. o. b. warehouse
dol. perlb..
513, 367
98 Q
P
fZR
6 431 427
473, 469
573
666
593
698
814
643
695
414
521
465
449
366
5.05
5.12
5.21
5.21
5.20
5.18
5.23
5.27
5.43
5.58
5,39
-•5.23
p 5. 07
31, 396
9,736
25 093
14, 956
31, 272
10, 308
21 994
15, 141
3 332, 225
7, 770
30 622
13, 463
29, 876
10, 556
19 169
10, 780
27, 736
9 940
22 761
13, 267
3 29, 645
3 11 730
20 774
11,237
18, 968
8 992
16 322
8,' 094
33 20, 913
10 723
12 889
8,182
IS, 653
9 840
17 135
6,126
19, 737 »•r 3 24, 520
9 788 3 1 1 738
14 277
3, 925
7,372
21, 678
1.752
1.194
1.748
1 199
1.725
1 189
1.725
1 174
1.725
1 200
1.725
1 200
1.725
1 204
1.725
1 205
1.725
1 205
WOOL
Consumption, mill (clean basis) :1t
Apparel class
thous. of lb_. 3 36, 490
3 14, 320
Carpet class
__
._ . _ _ _ _ _ _ d o
29, 791
Imports, clean content 9 -do
Apparel class (dutiable), clean content*
do
19, 489
Prices, wholesale, raw, Boston:
Territory, 64s, 70s, 80s, clean basis
dol. per lb_.
1.737
Bn>ht fleece, 56s-58s, clean basis
do.
1.201
Australian, 64s, 70s, good topmaking, clean basis,
6
1. 775
in bond
dol. per lb__
6
6
6
5
r
1.725
1 196
1. 675
1.688
6
1. 775
1. 775
1.778
« 1. 780
1. 780
* 1. 780
1. 780
« 1. 775
1. 779
5 1. 775
« 1. 725
1.725
r
4
p Preliminary.
Revised.
' Ginmngs
to
Jan.
16.
2
Total
gmmngs
of
1953
crop.
3
Data
cover
a
5-week
period.
Specifications changed • quotations begin6
6
ning June 1953 not comparable with earlier data.
Nominal price.
Data cover a 14-week period; other data are for 13 weeks
*> > H
b
§Total ginnings to end of month indicated.
IData for April, July, October, and December 1953 and March 1954 cover 5-week periods and for other months, 4 weeks; stocks and number of active spindles are for end of period covered
9 Revisions for 1952 appear in corresponding note in April 1954 SURVEY.
wvtat, •
*New series. Imports of wool are compiled by the 17. S. Department oj Commerce, Bureau of the Census; dutiable wool covers essentially the apparel class; data prior to April 1952 will be
shown later.
tRevisions for 1952 are shown in the August 1953 SURVEY.
cf Revisions for broad-woven goods for first and second quarters of 1952 are shown in the October 1953 SURVEY
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated, statistics through
1952 arid descriptive notes are shown in the
1953 Statistical Supplement to the Survey
June 1954
1953
April
May
j
i
June
July
19 54
August
September
October
November
December
January
2.098
2.098
2.073
2.037
2.025
p 2. 037
112.1
102.6
February
March
April
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, Bradford system wholesale price
dol per Ib
Woolen and worsted woven goods, except woven
felts :J
Production quarterlv total
thous o f l i n . y d
Apparel fabrics total
do
Government orders
do
Other than Government orders, total do
Women's and children's
2.134
2.146
2.170
1
do
Prices, wholesale, suiting, f. o. b. mill:
Flannel, 12-13 oz./yd,, 57",W_- _ .1947-49= 100. .
Gabardine, 10^i-12 H oz./yd., 56"/58"---do-~
1
113.9
105. 8
113.9
105. 3
2.110
84, 375
71, 746
3,655
68, 091
29 404
38, 687
1? 629
8, 133
4 496
93, 123
79, 841
4,216
75, 625
39, 694
35 931
1 3. 282 i
do
Blanketing
2.122
2.158
2.170
7,739
5. 543
113.9
105.3
113.9
105. 3
112.9
103.6
72 485
63, 606
4,320
59, 286
28, 389
30 897
8 879
6,236
2,643
112.9
103.6
112.9
103.6
112.9
103.6
112.9
103.6
112.9
103. 6
111.0
r 112.1
103. 6
' 103. 6
TRANSPORTATION EQUIPMENT
AIRCRAFT
number -do.- -
402
112
417
119
339
104
402
154
350
138
359
92
235
146
275
137
250
105
278
92
240
65
312
100
359
- number
dodo
do
do
do
do - _
723, 532
145
141
596, 633
577, 971
126, 754
114, 787
643, 487
367
339
549, 677
531, 544
93, 443
82, 433
661,992
705, 132
376
368
599, 134
581, 870
105. 622
92, 788
615, 382
447
407
573, 688
348
344
475, 289
465, 737
98, 051
86, 919
620, 562
519
496
528, 088
516, 257
91, 955
79, 541
452, 487
371
288
378, 406
369, 994
73, 710
64, 781
482, 920
424
393
387, 844
371, 844
94, 652
80, 224
551 130
401
361
454 562
435, 139
633 002
631 769
83, 563
534, 143
326
320
446, 676
425, 392
87, 141
72, 468
28, 675
16, 704
11,971
28,511
16,455
12,056
22, 661
22, 881
10, 455
12, 426
19, 823
8,951
10, 872
23, 557
10 040
21 578
10 884
10 694
29 700
16 448
13 252
31, 433
18 195
13, 238
21 780
12 177
9' 603
r
r
Civil aircraft, shipments
Exports 9
MOTOR VEHICLES
Factor v sales total
Coaches total
Domestic
Passenger cars total
Domestic
__
Trucks, total
Domestic
Export^ total 9
Passenger cars 9
Trucks and busses 9
-
--
--
--
do
do
do
-
Truck trailers production total
Complete trailers^
Vans -.
411 other cf
Trailer chassis
Registrations:
New passenger cars
New commercial cars
--
-
do
do _ _
do
do
do
-
-
dodo
8,811
8,479
r 9, 715
380
359
587, 549
570, 826
74, 063
66, 063
14,397
8, 264
T
9 360
r 9 275
* 2, 793
' 6. 482
r
355
3, 009
' 9, 390
r
3, 180
4,570
r 6, 210
332
••325
528, 110
91 127
540, 575
86 366
6,968
4,768
4,737
2,200
4,313
3, 959
2, 767
3,574
707
707
37
37
r
513,457
501,055
101,478
89,911
23, 585
13, 544
24, 656
10.041
12, 794
9,201
' 8. 883
r
2, 538
'• 6. 345
* 318
11,862
r
T
r
r
9,616
9.413
2, 641
6. 772
T
203
r
9. 809
'9,612
* 2, 294
r
7, 318
r
197
13,517
8, 304
8, 133
2 610
r
5, 523
T
171
7 796
'• 7. 603
•• 2, 539
r
5 064
r
193
450 311
72 596
r
r
542, 193
77. 199
533, 783
76, 161
502 430
76 673
453, 806
78 319
504 697
82 661
7, 066
4, 029
3. 037
7,096
4,823
4,376
2,273
6,001
3 718
3, 574
2 283
6, 666
4 305
3, 675
? 361
8, 963
5 636
5, 631
3 327
692
692
27
27
843
688
26
26
822
667
37
37
780
625
42
42
759
600
34
34
1,765
1 767
1, 767
1, 769
1 771
88
5.0
54, 333
30, 141
24, 192
89
5.0
50, 71 7
29, 351
21, 366
91
5.2
45, 804
26, 880
18, 924
92
5.2
17,211
92
5 2
40 224
21 497
18, 727
1,656
11.5
1,547
11.1
1,437
10.6
1,315
10.0
861
675
564
40
45
39
732
690
42
677
640
37
945
902
43
r
r
T
5
5
2
2
r
96,167
592
196
316
880
396
4
4
1
2
724
585
899
686
139
4
4
1
2
667
502
767
735
165
9Qfj
288C|
531 5^
510 024
101, 177
85 154
5 000
4 741
l' 879
2 86°
379
348
534 667
515,192
96, 723
79, 439
4 746
4 535
1 865
o 670
259
211
413 °37
68 659
340 698
60 694
369 592
60 843
480 731
72 583
508 247
75 529
574
173
912
401
4 752
3 169
2 873
1 583
5 101
3' 815
3 658
1 286
4,041
3 014
4 826
3 796
3 793
1 030
4 195
3 138
2 981
1 057
715
560
46
42
736
422
44
44
712
398
27
26
686
384
29
17
690
405
40
22
636
374
572
330
1 772
1 775
1 777
1 777
1 775
1 773
1 771
94
5 3
37 554
20 651
16, 903
90
5 1
33 159
15 405
17, 754
92
5 2
30 703
13 911
16 792
88
4 9
27 678
12 256
15 422
PI
5 1
23 537
9 153
14 384
94
5 3
20 548
6 784
13 764
98
5 6
16 896
4 068
12 828
104
58
13 964
2 132
ll'832
1,336
10 4
1, 216
9 7
1, 223
10 0
1,222
10 2
1,232
10 5
1,215
10 6
1,210
10 8
1,222
11 2
1,169
11 1
511
405
545
628
659
571
486
521
365
300
61
46
48
37
63
46
37
33
26
673
591
82
626
576
50
797
735
62
877
845
32
677
632
45
673
630
43
523
485
38
467
437
30
473
448
95
RAILWAY EQUIPMENT
American Railway Car Institute:
Freight cars:
Shipments total
- ...
number
Equipment manufacturers, total
do
Domestic
-- - do
Railroad shops domestic
do
Passenger cars, equipment manufacturers:®
Orders, unfilled, end of month, total*
do
Domestic
do
Shipments, total
- ._
.do -~
Domestic
do
Association of American Railroads:
Freight cars (class I), end of month:§
Number owned
thousands
Undergoing or awaiting classified repairs
thousands..
Percent of total ownership _.
Orders unfilled
number
Equipment manufacturers
do
Railroad shops
do.Locomotives (class I), end of month:
Steam, undergoing or awaiting classified repairs
number-Percent of total on line
Diesel-electric and electric: Orders, unfilled
number of power units. _
Exports of locomotives, totaH___
do
7, 080
40,119
22, 908
6
4
3
2
1 776
2,947
1 027
59
36
64
44
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
Shipments, total
Domestic
Export
__nuniber_.
do
do-
-
366
344
22
r
revised.
v Preliminary.
i Revisions for January-March 1953 (number); Trailers, total, 5,863; 6,017; 6,748; complete trailers, total, 5,641; 5,732; 6,439; vans, 2.601; 2 601* 2 847' other
complete trailers, 3,040: 3,131; 3,592; trailer chasis, 222; 285; 309.
' '
i Re visions for 1952 are shown in the August 1953 SURVEY.
9 Data exclude all military-type exports. Scattered monthly revisions for 1952 for motor vehicles will be shown later.
d*Revised beginning 1952 to include production of converter dollies; data as revised are comparable with figures through 1951 shown in the 1953 issue of BUSINESS STATISTICS. Revisions
for January-September 1952 are shown in the December 1953 SURVEY.
©Excludes railroad shops except when noted.
*New series; monthly data prior to 1953 will be shown later.
§ Not including railroad-owned private refrigerator cars.
^[Revised exports for May 1952, 41 locomotives.
U. S. G O V E R N M E N T P R I N T I N G O F F I C E : 1954
•INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
Abrasive paper and cloth (coated)
38
Acids.
_______
24
Advertising
7, 8
Agricultural employment
__
___
10
Agricultural loans and foreign trade. _ _ . _ _ 15, 21, 22
Aircraft
_ _ _ _ _ _ _ _ _ 2, 11, 12,13, 14,40
Airline operations
___ _
22
Alcohol, denatured and ethyl
24
Alcoholic beverages _ _ . . . _ 2, 6, 8, 27
Aluminum
33
Animal fats, greases, and oils
--25
Anthracite
11, 13, 14, 15,34
Apparel, wearing.... 2, 3, 4, 5, 6, 8, 9, 11, 12, 14, 15, 38
Asphalt and asphalt products
36
Automobiles
. 2, 3, 8, 9, 11, 12, 13, 14, 16, 18, 21,40
Bakery products
.
....
2, 11, 12,13
Balance of payments
20
Banking
15,16
Barley
28
Barrels and drums
32
Battery shipments
34
Beef and veal
____---__29
Beverages
_ _ _ _ _ _ 2, 3, 4, 6, 8, 11, 12, 14, 27
Bituminous coal_ _ _ _ _ _ _ _ _ _ - . _ . 11, 13, 14, 15,34,35
Blast furnaces, steel works, etc
_ . _ 11, 12, 13, 14
Blowers and fans
34
Bonds, issues, prices, sales, yields
19
Book publication
.
37
Brass
33
Brick
38
Brokers' loans and balances _ _ _ _ _
.. .
16, 19
Building costs
___ _
7
Building and construction materials _ _ _ _ _ _ — - 7, 8, 9
Business sales and inventories _ _ .
3
Businesses operating and business turnover—
4
Butter
.
27
Cans (metal), closures, crowns.
33
Carloadings_
23
Cattle and calves.
—
29
Cement and concrete products.,
6, 38
Cereals and bakery products
5, 11, 12, 14
Chain-store sales (11 stores and over only).-.
9
Cheese
...
.
-27
Chemicals
2, 3,4, 5, 11, 12, 14, 15, 18, 21, 24
Cigars and cigarettes
_
6, 30
Civilian employees, Federal___
,_
12
Clay products (see also Stone, clay, etc)
2, 6, 38
Clothing (see also Apparel)
_._
5,38
Coal __
2,3,11,13,14,15,21,23,34,35
Cocoa
-- 22,29
Coffee
_
22, 29
Coke
23,35
Commercial and industrial failures
4
Communications. _._.
11, 13, 14, 15, 18, 19, 20, 23
Confectionery, sales
29
Construction:
Contracts awarded
6
Costs
7
Dwelling units
7
Employment, earnings, hours, wage rates- _
11,
12, 13, 14,15
Highway
6, 7, 12
New construction, dollar value
,_ _
6
Consumer credit
16
Consumer expenditures
__ _
1,8
Consumer price index
5
Copper.
_
22,33
Copra and coconut oil
25
Corn
..__
-... 19,28
Cost-of-living index (see Consumer price
index)
.
,_ _.
,
S
Cotton, raw and manufactures _ _ _ _ _ _ _ 2, 5, 6, 21, 39
Cottonseed, cake and meal, oil_ _ _ _ _
25
Credit, short- and intermediate-term
16
Crops
2,5,25,27,28,30,39
Crude oil and natural gas
. _.
2, 3
Currency in circulation
18
Dairy products
Debits, bank
Debt, United States Government
Department stores
Deposits, bank
Disputes, industrial
Distilled spirits
Dividend payments and rates
Drug-store sales
Dwelling units
5, 11, 12, 14, 27
_
15
17
9, 10, 16
15, 16, 18
13
27
1,18, 20
8, 9
7
Earnings, weekly and hourly
„ 13, 14, 15
Eggs and poultry
...
_ _ _ 2,5,29
Electric power
5, 26
Electrical machinery and equipment
_„_
2,
3, 4, 5, 8, 11, 12, 13, 14, 18, 21, 34
Employment estimates and indexes
10,11,12
Employment Service activities. _ _ _
13
Engineering construction
6
Expenditures, United States Government
16
Explosives
__
25
Exports (see also individual commodities)
20, 21
Express operations
,
22
Failures, industrial and commercial
Farm income, marketings, and prices
Farm wages
Fats and oils, greases
.
Federal Government
finance._
Federal Reserve banks, condition of
Federal Reserve reporting member banks
Fertilizers _„
Fiber products.-.
Fire losses
Fish oils and
fish
Flaxseed
Flcoring
Flour, wheat
4
2, 5
15
5, 25, 26
17
15
16
5, 24
34
7
25, 29
25
_ _ 31, 3 2
28
Pages marked S
._. .
2,
3, 4, 5, 8, 9, 11, 12, 14, 18, 27, 28, 29, 30
Foreclosures, real estate- _ _ _ _ _ _ _ _ _.
__ _
7
Foreign trade indexes, shipping weight, value
by regions, countries, economic classes, and
commodity groups _ _
_ 21, 22
Foundry equipment-__ _ .
..
34
Freight carloadings
,_ _ _
23
Freight cars (equipment).
40
Freight-car surplus and shortage _
23
Fruits and vegetables.
,_
5, 21, 27
Fuel oil
.
35
Fuels-___
5,34,35
Furs.
. 22
Furnaces
34
Furniture
„ 2,3,5,8,9, 11, 12, 13, 14, 16
Gas, prices, customers, sales, revenues,
5, 26
Gasoline.
8,9,36
Glass products (see also Stone, clay, etc.)- - - - 2, 38
Generators and motors
______________
34
Glycerin _
24
Gold
____________
18
Grains and products,..
. _ „ _ 5, 19, 21, 23, 28
Grocery stores _ „_,,..,._
9
Gross national product
1
Gypsum and products
6, 38
Heating apparatus. _ _ _ _ _ _ _ _ _ 6, 11, 12, 13, 14, 33, 34
Hides and skins
____'
5,22,30
Highways and roads _ _
,_____.
. 6, 7, 12, 15
Hogs__. _ _ _ _ _ _ _ _ _ _ _ _
29
Home Loan banks, loans outstanding.
,
7
Home mortgages . _ _
.
7
Hosiery.
____
__ __
38
Hotels
.__.
11,13, 14, 15,23
Hours of work per week. _ _ _ _ _ _ . ,
12,13
Housefurnishings
.
.... 5, 8, 9
Household appliances and radios. _ .
5, 8, 9, 34
Imports (see also individual commodities), 20, 21, 22
Income, personal.
1
Income-tax receipts
16
Incorporations, business, new. _
4
Industrial production indexes ,
_
2,3
Instalment credit. _
16
Instalment sales, department stores
10
Instruments and related products
2, 11, 12, 13, 14
Insulating materials
,
34
Insurance, life.
17
Interest and money rates
_
16
International transactions of the U. S
20, 21, 22
Inventories, manufacturers* and trade. _ _ _ 3, 4, 9, 10
Iron and steel, crude and manufactures
__
2,
6, 18, 21,32,33
35
Kerosene
,
_
Food products
Labor disputes, turnover.
13
10
Labor force. Lamb and mutton
29
Lard
......
29
Lead.
----33
Leather and products— _ _ 2, 3, 4, 5, 12, 14, 15, 30, 31
Linseed oil
25
Livestock
2, 5, 23, 29
Loans, real estate, agricultural, bank, brokers'
(see also Consumer Credit)..
7, 15, 16, 17, 19
Locomotives. _ .
__ _
40
Lubricants
.—
,____
35
Lumber and products
2,
3, 5, 8, 9, 11, 12, 13, 14, 18, 31, 32
Machine activity, cotton
39
Machine tools
_
_
.. _ _
34
Machinery
2,3,4,5, 11, 12, 13, 14, 18, 21,34
Magazine advertising.
.
8
Mail-order houses, sales
.
, _.
9, 10
Manufacturers' sales, inventories, orders. .
3, 4
Manufacturing production indexes
2,3
Manufacturing production workers, employment, payrolls, hours, wages.
11, 12, 13, 14, 15
Meats and meat p a c k i n g . _ _ _ _ _ _ _ _ 2, 5, 11, 12, 14, 29
Medical and personal care
„
. __ _
5
Metals
2,3,4,6, 11, 12, 13, 14, 15, 18,32,33
Methanol __
__
._
24
Milk
__
27
Minerals and m i n i n g - . . _ _ _ _ _ _ _ 2,3, 11, 13, 14, 15, 20
Monetary statistics
.
18
Money orders
8
Money supply
18
Mortgage loans
. _ _ 7, 15, 16, 17
Motor carriers.
22
Motor fuel_
.
36
Motor vehicles.
3, 5, 8, 9, 18, 40
Motors, electrical..
_
— _.
34
National income and product
1
National parks, visitors
23
Newspaper advertising „ — .
8
Newsprint
22,37
New York Stock Exchange, selected data
19, 20
Nonferrous metals—
2, 6, 11, 12, 13, 14, 18, 22, 33
Noninstalment credit
16
Oats
_
__.,28
Oil burners
33
Oils and fats, greases
„
. 5, 25, 26
Oleomargarine
_
26
Operating businesses and business turnover _ _
4
Orders, new and unfilled, manufacturers'
4
Paint and paint materials
5, 26
Panama Canal traffic
23
Paper and pulp2,4,6,11,12,14,15,22,36,37
Paper and products
.__
2,
3,4,6,11,12, 14,15,18,36,37
Passports issued
23
Payrolls, indexes
12
Personal consumption expenditures
1,8
Personal income
1
Pages marked S
Personal saving and disposable income..
1
Petroleum and products
2,
3, 4, 5, 11, 12, 13, 14, 15, 18, 21, 22, 35, 36
Pig iron
32
Plant and equipment expenditures
1
Plastics and resin materials.
26
Plywood
,___
__
31
Population
_ _
_
10
Pork _ _
29
Postal savings
16
Poultry and eggs..
2, 5, 29
Prices (see also individual commodities):
Consumer price index
5
Received and paid by farmers
5
Retail price indexes
__
5
Wholesale price indexes
.__ _
5,6
Printing and publishing.
2, 3, 4, 11, 12, 14, 15,37
Profits, corporation
1, 18
Public utilities... 1, 6, 11, 13, 14, 15, 17, 18, 19, 20, 26
Pullman Company
_ -.
. _23
Pulpwood.
36
Pumps
,_
34
Purchasing power of the dollar
6
Radio and television
5, 7, 8, 34
Railroads, employment, wages, financial statistics, operations, equipment
11,
12, 13, 14, 15, 17, 18, 19, 20, 22, 23, 40
Railways (local) and bus lines.
._ 11,13, 14, 15
Rayon and rayon manufactures
_
39
Real estate
7, 16, 17, 19
Receipts, United States Government
16
Recreation
_
5
Refrigerators, electrical
34
Rents (housing), index
5
Retail trade, all retail stores, chain stores (11
stores and over only), general merchandise,
department stores
3, 4, 8, 9, 10, 11, 13, 14, IS
Rice
28
Roofing and siding, asphalt
36
Rosin and turpentine
24
Rubber, natural, synthetic, and reclaimed
tires and tubes
.___
6, 22, 37
Rubber products industry, production index,
sales, inventories, employment, payrolls,
hours, earnings
2,3,4, 12, 14, 15
Rural sales
10
Rye
28
Saving, personal
__
1
Savings deposits
16
Securities issued
18, 19
Services
4, 5, 8, 11, 13, 14, 15
Sewer pipe, clay
38
Sheep and lambs
29
Ship and boat building
_ _ 11, 12, 13, 14
Shoes and other footwear
8, 9, 12, 14, 15, 31
Shortening
26
Silk, imports, prices
6, 39
Silver
18
Soybeans and soybean oil_ _ ,
25
Spindle activity, cotton
39
Steel ingots and steel manufactures (see also
Iron and steel)
2, 32, 33
Steel scrap..
32
Stocks, department stores (see also Inventories)
.
10
Stocks, dividends, listings, prices, sales, yields.
20
Stone and earth minerals
2,3
Stone, clay, and glass products
2,
3, 11,12,13,14, 18,38
Stoves
34
Sugar.
22,30
Sulfur
25
Sulfuric acid
24
Superphosphate
24
Tea
30
Telephone, telegraph, cable, and radio-telegraph carriers11, 13, 14, 15, 18, 19, 20, 23
Television
7,34
Textiles
2, 3, 4, 6, 11, 12, 14, 15, 18, 21, 38, 39, 40
Tile
33
Tin__
___
22,33
Tires and inner tubes
_ . 6, 12, 14, 15,37
Tobacco
2, 3, 4, 5, 6, 8, 11, 12, 14, 15, 21, 30
Tools, machine.
_
34
Tractors
34
Trade, retail and wholesale. 3, 4, 8, 9, 10, 11, 13, 14, 15
Transit lines, local
__.
22
Transportation, commodity and passenger. 5, 22, 23
Transportation equipment. _.
2,
3,4,11,12,13,14,18,40
Travel.23
Truck trailers
40
Trucks
40
Turpentine and rosin
24
Unemployment and compensation
10,13
United States Government bonds
_ . 16, 17, 18, 19
United States Government
finance
16, 17
Utilities1, 5, 6, 11, 13, 14, 15, 17, 18, 19, 20, 26
Vacuum cleaners
-—.
34
Variety stores
9
Vegetable oils—
25, 26
Vegetables and fruits..--.-.-.
2, 5, 21, 27
Vessels cleared in foreign trade
23
Veterans' unemployment allowances
13
Wages, factory and miscellaneous
13, 14, 15
Washers. . . _ _
--34
Water heaters
_-_
34
Wax
—-36
Wheat and wheat
flour
. _ . _ _ . _ 19, 28
Wholesale price indexes
5,6
Wholesale trade
3, 4, 10, 11, 13, 14, 15
Wood pulp
36
Wool and wool manufactures. _
-_ _ 6, 22, 39, 40
Zinc ._
.
33
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